Wealth and Wisdom: Week of January 27, 2025
- Mike Brown
- Jan 27
- 5 min read
Things are changing at a rapid pace since the inauguration, changes that could soon impact you financially and otherwise.
One thing that probably hasn’t changed: the date you plan to retire, which should have less to do with who’s in the White House and more to do with how you want to live the rest of your life. If retiring soon is a serious goal for you, let me make you aware of two resources that can help.
The first is our educational website: Help Me Retire, where you’ll find my podcast, regular blog posts, and a suite of tools all designed to help you make smarter decisions about retirement.
The second resource is a three-night class I’ve been asked to teach at St. Louis Community College’s Meramec campus entitled “How to Retire: A 7-Step Process.” I’m told we still have room in the first session that starts on February 12 but the registration deadline is Wednesday, February 5.
If that doesn’t work for you, I’ll be teaching the class again in June. You can learn more and sign up for either session at the college’s registration site, but make sure you beat the February 5 deadline if you want to get into the first one.
After bottoming out in mid-September, bond yields have been on the rise. There are at least four ways that might cost you money. (Reading time: 4 minutes)
Policymakers lowered interest rates three times last year – but stubborn inflation and a strengthening labor market might mean no cuts in 2024. (Reading time: 3 minutes)
There’s talk of extending Social Security’s full retirement age (FRA) from the current 67 to 69 in order to shore up the system. (Reading time: 5 minutes)
The IRS has posted a six-step plan it says will make tax filing easier this year – along with several other helpful resources. (Reading time: 1 minute)
From capital gains to IRA withdrawals, investment income can get taxed in a number of different ways. (Reading time: 6 minutes)
One in five Americans say they’re spending too much money without thinking about it. If that’s you, here are three ways to slow it down. (Reading time: 3 minutes)
If this is the year you get serious about building wealth, start today – and use this 6-step process to start building some momentum. (Reading time: 7 minutes)
If you get paid every two weeks, take advantage of the two months when you’ll receive an “extra” paycheck – and put that money to good use. (Reading time: 3 minutes)
Understanding market history can make you a better investor – but it probably won’t help you forecast returns over the short run. (Reading time: 2 minutes)
Most of us want to stay put as we get older – and if you plan and make some necessary changes, it can be done. (Reading time: 4 minutes)
Words to the Wise
“Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”
– Steve Jobs
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