Wealth and Wisdom: Week of April 11, 2022
As evidence of inflation continues to mount, the Federal Reserve is again stepping up its efforts to combat it. The plan now seems to be two-fold: (1) a series of small interest-rate increases through the end of 2022 at least; and (2) shrinking the Fed’s balance sheet by not fully reinvesting the proceeds of maturing bonds it owns.
In plain English, the central bank wants to end the easy-money policy that has been stimulating the economy and helping spark inflation. The risk is that if the Fed doesn’t stick the “soft landing”, we could be in for an economic downturn.
Recession this year?
Four out of five Americans now believe the nation’s economy will stop growing by the end of 2022. (Reading time: 3 minutes)
Help for rising tuition payments
Explore these tax deductions and credits that might help offset the soaring cost of a college education. (Reading time: 3 minutes)
What you should know about those college rankings
15 things you might not realize about the U.S. News & World Report’s college-ranking system. (Reading time: 6 minutes)
Save for retirement or emergencies?
The answer, of course, is both. But the general rule is to focus on your immediate needs first. (Reading time: 3 minutes)
Raising Social Security’s full retirement age
The age at which you qualify for full Social Security benefits is heading for 67 – and some people think it needs to go higher. (Reading time: 3 minutes)
Finding work after retirement
Here are 10 job-search websites and apps – complete with links – if you’re ready to get back into the workforce. (Reading time: 4 minutes)
An odd way to ‘diversify’ your portfolio
Does it ever make sense to have more than one financial advisor? (Reading time: 4 minutes)
Investor, know thyself
You can get investment wisdom from a lot of sources – but in the end, there’s one person you really need to know. (Reading time: 3 minutes)
More wisdom on investor behavior
Investing gets a lot easier once you realize that the biggest challenge you face is looking at you in the mirror. (Reading time: 5 minutes)
Mike’s Pro Tip of the Week
If you need help affording the rising cost of prescription drugs and medical devices, check out NeedyMeds – a patient assistance program that offers free information on medication and healthcare cost-savings programs, including medical and dental clinics.
Words to the Wise
“There is all the difference in the world between having something to say and having to say something.”
– John Dewey
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