Wealth and Wisdom: Week of April 25, 2022

And the hits just keep on coming. As we wait for any sign that inflation might be easing, we learn that producer prices – those at the wholesale level – were up in March by 11.2% over a year ago, the fastest increase on record.

Rising prices might be partly responsible for many people who recently came to think of working as optional – including some early retirees – to head back into the labor force to pay for their rising cost of living.

Wealth and Wisdom will not appear next week. After a short break, I plan to be back with you on my bride’s birthday, Monday, May 9.

On second thought

Many of the 47 million Americans who quit their jobs during the so-called “Great Resignation” last year wish they hadn’t. (Reading time: 2 minutes)

Why it’s so hard to buy a home right now

Prices are soaring, and mortgage rates are over 5%. Then there’s the down-payment, limited inventory – and bidding wars. (Reading time: 4 minutes)

Another big Social Security COLA?

This year’s payments are already 5.9% higher than last year’s – a record increase – but 2023 could bring an even higher inflation adjustment. (Reading time: 3 minutes)

Hedging inflation with I-bonds

The recent inflation surge is making this type of government savings bond very attractive lately – but there are pros and cons. (Reading time: 3 minutes)

Should you consider a credit card balance transfer?

If you’re deep in debt, rising interest rates won’t help you dig out – but this strategy might buy you some time. (Reading time: 8 minutes)

Retirement a la YouTube

The internet is full of do-it-yourself “experts”. Would you trust your retirement to them? (Reading time: 4 minutes)

This trend isn’t helping

Buy Now Pay Later (BNPL) plans allow you to buy things today and pay for them with a series of interest-free payments. What could go wrong? (Reading time: 3 minutes)

The long-term care dilemma

When you’re finally ready to sit down and figure out how to cover the cost of long-term care, this expansive article might be a good place to start. (Reading time: 9 minutes)

I wouldn’t bet against us

Don’t buy into the popular myth that America is in decline. (Reading time: 4 minutes)

Mike’s Pro Tip of the Week

If you want the best value on just about anything you buy, avoid the cheapest option and buy the one a step or two above it. Whether it’s a bottle of wine in your favorite restaurant or a washing machine at an appliance discounter, what you save in price you’ll often pay for in quality.

Word to the Wise

“You can always count on Americans to do the right thing – after they’ve tried everything else.”
– Winston Churchill

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