Wealth and Wisdom: Week of June 8, 2026
- Jun 8
- 4 min read
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 would start on the spending side, and Item #7 below will get you headed in the right direction.
And if you’re retired and looking for ways to control your spending, stay tuned for my two upcoming Help Me Retire Podcast episodes, #36 and #37, in the next few weeks for more specific ideas and strategies.
The personal savings rate has been cut in half since this time last year – largely because we’re paying so much more for essentials now. (Reading time: 2 minutes)
Moving to a state with no income tax sounds appealing, especially to retirees – but you could wind up paying even more in other ways. (Reading time: 6 minutes)
The program officially rolls out on July 4, but parents looking to save money for their kids can use this new app now to be ready. (Reading time: 3 minutes)
Critics believe Trump Accounts are the first step toward creating personal retirement savings accounts that could one day replace Social Security as we know it. (Reading time: 4 minutes)
The bad news: nursing home costs continue to rise rapidly nationwide. The good news: be glad you don’t live in Alaska. (Reading time: 3 minutes)
Families will be able to save up to $9,000 in health savings accounts next year – and enjoy triple tax advantages for doing so. (Reading time: 3 minutes)
It turns out that having millions of dollars doesn’t solve all of life’s problem after all – unless it helps give your life purpose. (Reading time: 3 minutes)
Side note: If you want a deeper dive on this subject, I just finished Morgan Housel’s excellent book, The Art of Spending Money and highly recommend it to you.
Consider these strategies to make sure your money is going where you want it to. (Reading time: 5 minutes)
You might be able to make someone’s life better and lower your own future tax bill at the same time. (Reading time: 7 minutes)
A one-minute primer on what to expect if you lose a spouse. (Reading time: 1 minute)
Words to the Wise
“The only way to build wealth is to have a gap between your ego and your income.”
– Morgan Housel, author
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