Wealth and Wisdom: Week of April 18, 2022

We’re still getting more discouraging news on inflation. Consumer prices rose 8.5% in March, the fastest annual gain since 1981 and higher than experts were predicting. If there’s a silver lining, it’s that core inflation – which excludes volatile food and energy items – rose less than expected.

Paychecks are getting bigger, too, but incomes are rising more slowly than prices, which means inflation is eating away at our standard of living. It’s also making it tougher for folks to save and invest for retirement and other goals.

Americans are behind on retirement saving

If you have more than $65,000 saved for retirement, you’re doing better than most. (Reading time: 5 minutes)

Is working longer the answer?

We’re living longer, healthier, more active lives. So why does it still make sense to retire at 65? (Reading time: 3 minutes)

Women face special challenges

Here are 20 challenges women face when it comes to planning retirement – and 11 ways to improve their chances. (Reading time: 3 minutes)

Transferring wealth with a Roth IRA

Roth IRAs have special advantages that make them an efficient vehicle for leaving money to your heirs. (Reading time: 3 minutes)

New caps on QCDs

If you make deductible IRA contributions after age 70½, your qualified charitable distributions may now be limited. (Reading time: 3 minutes)

8 things to know about Social Security

For example, did you know that you can change your mind after you start your benefits – and ask for a do-over? (Reading time: 5 minutes)

Cyber tip: Scanning QR codes

The FBI is out with a new warning: Be careful the next time you scan one of these ubiquitous, funny-looking symbols. (Reading time: 2 minutes)

Computers are good for many things…

…creating do-it-yourself financial plans is not one of them. (Reading time: 5 minutes)

‘The Dog and the Frisbee’

Any dog can tell you that simple rules are often the best approach to complex problems – and that goes for investing as well. (Reading time: 3 minutes)

Mike’s Pro Tip of the Week

I am a confessed maniac when it comes to getting a good start in the morning. At worst, it can make a bad day better – and at best, it can make a good day feel like coasting downhill. Here are 5 morning rituals to boost your productivity at work.

Words to the Wise

“Many of life’s failures are people who did not realize how close they were to success when they gave up.”
Thomas Edison

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