Wealth and Wisdom: Week of June 3, 2024

I’m told we still have some seats available for this coming Saturday’s Help Me Retire workshop, entitled “Investing for the Rest of Your Life.” I’ll teach you the investment strategy we have used with our clients to help them maintain wealth throughout retirement – and I’ll show you why several of today’s most popular strategies aren’t working as well as advertised. If you are planning to retire soon – or maybe you just did – you don’t want to miss this.

You’ve probably received an email invitation already, but to grab one of our remaining seats, you can sign up here – and we’ll get back to you right away with details.

This week’s Wealth and Wisdom is dedicated to new college graduates, who are embarking on a lifelong journey full of surprises, joys, and challenges. I hope we can be a good partner and helpful guide in the years ahead. Congratulations!

Advice for new college grads

Do this one thing for your entire career – and you could find that building enormous wealth is easier than you think. (Reading time: 3 minutes)

4 strategies to build wealth

It actually does take money to make money. Here are some ways to find the money get your investment program started. (Reading time: 4 minutes)

Is there such a thing as ‘good’ debt?

Living beyond your means could doom you from the start – but when done the right way, borrowing money can help you reach your goals faster. (Reading time: 3 minutes)

The math behind pre-paying your mortgage

While your assets are compounding, the same concept in reverse can help you extinguish debt – moving your closer to True Wealth. (Reading time: 4 minutes)

Will Social Security be there for you?

Believe it or not, there are lots of ways to fix Social Security before it’s too late. But it will require courage and sanity on the part of our lawmakers. (Reading time: 7 minutes)

Social Security by the numbers

Here are three graphic illustrations of what’s likely to happen if those lawmakers don’t act. (Reading time: 3 minutes)

529 plans are more versatile now

They still call them 529 college savings plans – but recent legislation opened up the ways these tax-advantaged accounts can be used. (Reading time: 2 minutes)

5 common IRA mistake and how to fix them

Did you make any of these IRA boo-boos at tax time? The sooner you address them, the less painful it will be. (Reading time: 3 minutes)

And speaking of complicated…

The rules for required minimum distributions (RMDs) have changed again. Here’s what you need to know for 2024. (Reading time: 4 minutes)

Throwing good money after bad

Don’t keeping following the same financial path just because changing course will cost you money. That’s called the “sunk-cost fallacy.” (Reading time: 5 minutes)

Words to the Wise

“We should be taught not to wait for inspiration to start a thing. Action always generates inspiration. Inspiration seldom generates action.”

– Frank Tibolt

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