Persistent inflation is posing some serious challenges to folks just trying to get by. New data show Americans are saving less – a lot less – these days, while borrowing more to make ends meet. If you are feeling the squeeze, you have two basic options. You can try to increase your income – through your current job, a side hustle, or getting more cash flow from your investments – or you can look for ways to hold back the tide of rising prices with your spending. Personally, I

If you’ve got a young one at home looking for a summer job, it’s not looking good right now. Outplacement firm Challenger, Gray & Christmas predict this will be the worst summer for teen employment – since 1948. Why? The businesses that typically take on part-time summer help – resorts, hotels, amusement parks, for example – are being hit hard by inflation and soaring fuel prices, just like the rest of us. Rising prices are cramping the lifestyles of retired Americans as well

When to claim Social Security is one of the biggest retirement decisions you’ll make—and one of the most misunderstood. Many people default to a simple rule of thumb: take it early if you need it, wait if you don’t. There’s some truth to that, but the real answer usually involves a little more thinking. I like to frame the decision a different way: What job do you need Social Security to do for you? Do you need income now? Are you trying to protect yourself from outliving you

It’s become a recurring theme lately: How can the markets be doing so well when the world seems to grow crazier every day? And the answer continues to be – earnings. Markets are made up of companies. Companies are in the business of generating profits for their shareholders. And the extent to which they succeed is ultimately reflected in their share prices. The more money a company (and collectively, the market) earns, the more valuable it becomes. It’s as simple as that. Rec

Volatility is not the same as risk Show notes: Up one day and down the next... stocks can be volatile... But does that make them... risky? THAT depends on how you define risk... and a lot of people are thinking about risk... all wrong... Today... I’m going to show you how market volatility can actually help you BUILD wealth... And if you’re retired... and trying to make your money LAST... I’ll show you how to build an investment portfolio that can help you sleep better at nig

Inflation is now running at a 3.8% pace, the fastest increase in three years. That’s alarming enough, but a peek beneath the surface of last week’s report shows even more reason for concern. Consumer prices grew faster than wages in April – the first time that’s happened in three years – and it shows that Americans are falling behind. Most of the inflation spike is tied directly to energy costs, up 18% over last year. We’re paying 28% more to drive than we did last April, and

If you’ve ever looked at a Roth IRA conversion and thought, “So I’m choosing to pay taxes now… so I can potentially pay less later?” – you’re exactly right. But that’s not the whole story. Here’s the part many people miss: retirement isn’t the end of tax planning. In many ways, it’s when tax planning becomes more important – because once you retire, you often gain more control over your income. You can decide when to start Social Security, when to turn on a pension, when to r

America’s economy is the largest in the world. The companies that power that economy – and lead the world in innovation – are growing at impressive rates. The dollar continues to hold its position as the global reserve currency. U.S. Treasury securities are still classified as risk-free investments. Many of the things Americans think of as daily necessities are considered luxuries in most of the rest of the world. But increasingly, the federal government is relying on borrowe

Deciding when to take Social Security Show notes: It’s the question every retiree faces... when’s the best time to claim Social Security benefits? I’ve got five questions for you today... that could help you make a smarter decision... on this episode of... The Help Me Retire Podcast... This is the Help Me Retire Podcast… with your host… Mike Brown… Senior Wealth Advisor with Raymond James Financial Services… and head of Brown Family Wealth Advisors… Mike is the best-selling a

Most retirees don’t set out to overpay taxes. It just happens – quietly, year after year – because nobody ever taught them how retirement taxes really work. In retirement, taxes stop being something that “happens to you” and become something you can influence. Why? Because you’re no longer collecting a single paycheck with withholding handled behind the scenes. You’re now the CFO of your own income. You decide when to take Social Security, how much to withdraw from IRAs, whet

Financial markets appear to be trading on the headlines lately, and many investors have trouble understanding why stocks are performing reasonably well – the S&P 500 is back in the black year-to-date – while the rest of the world seems be spinning out of control. But look under the surface and you’ll see that what drives markets over time is how much money the underlying companies are making. Earnings, and the rate at which those earnings are growing at U.S. companies, are ac

If you’ve ever opened the mailbox (or inbox) and thought, “Where am I supposed to put all of this?” you are not alone. Bank statements, 401(k) notices, insurance updates, “important” credit card letters, old tax returns, legal documents, passwords on sticky notes – before long, it becomes more than paper clutter. It becomes mental clutter. And here’s the frustrating part: when your financial life feels disorganized, every decision feels heavier than it should. You hesitate,

Years ago, when I was just getting started and had barely a dollar to my name, someone explained to me that early in your career, it takes ten units of effort to produce one unit of results – which feels like rolling a boulder uphill. But if you stick with it long enough, you eventually reach the point where one unit of effort produces ten units of results, and that boulder starts rolling down the other side. That’s exactly how building wealth from scratch works. It’s slow…

I’ll be away this week attending to some family business, so Wealth and Wisdom will resume on Monday, April 20. I’m including some beefier topics this week to help you bide the time. It’s even harder than usual to make sense of the financial markets these days. It’s hard to tell whether we’re on the precipice of a financial cliff or the cusp of a new era of innovation and economic growth. That growing uncertainty – and the volatility it’s creating in the financial markets –

Years ago, retirement was simpler. Many people went to work and then, when they retired, they collected a pension and Social Security benefits. Not much planning was needed. Today, things are different. Retirees are mostly on their own and responsible for making more of the critical decisions that will determine how successful they are in retirement. This month Mike discussed RMDs, rollovers, and other strategies to help minimize taxes on your retirement savings. Be a part of

If war, oil prices, or politics make you change your investment plan, I would argue you don’t really have a plan to begin with. If you make investment decisions by reacting to what’s in the news, you’ll always be behind and disappointed. And if you base your decisions based on predictions of the future – yours or anyone else’s – you’ll likely be wrong at least half the time. My suggestion : Study the lessons history teaches investors wise enough to heed them. Find a simple,

The "Golden Window" for Roth Conversions Show notes: I call it the “golden window” for Roth IRA conversions... are you in it? And if so... how can you take advantage of this golden opportunity? On this episode of The Help Me Retire Podcast... This is the Help Me Retire Podcast… with your host… Mike Brown… Senior Wealth Advisor with Raymond James Financial Services… and head of Brown Family Wealth Advisors… Mike is the best-selling author of Your Way to True Wealth: How to Ma

If you’ve been holding your breath for another cut in interest rates, it’s probably time to let go. For five long years now, the Federal Reserve has been waiting for inflation to drop below its target of 2% – only to be continually disappointed. The Fed’s easy money policy in response to the Covid pandemic sparked a huge surge in consumer prices. Then, just as inflation was beginning to ease, Russia invaded Ukraine. Last year brought President Trump’s global tariffs. Now the

The crisis-of-the-moment – unless of course it’s changed again since I wrote this sentence – is oil. The Iran war is causing a major disruption in the flow of oil around the world, driving up the price of crude, gasoline, and jet fuel. In the best case, we can expect a lot more uncertainty until the conflict gets resolved – and let’s not forget that the U.S. is much less vulnerable to oil shortages today thanks to increased domestic production and technology. But until thing

The U.S. has attacked Iran and Venezuela this year. Would it be smart to invest in oil companies? The tariffs aren’t going away. Is it time to switch to international stocks? No one knows what will happen in the November elections. Should I sell everything now and just wait it out? There’s nothing like scary headlines to make you second-guess your investment strategy. There’s also nothing wrong with being concerned – even afraid – of what’s going on the world these days. What