Wealth and Wisdom: Week of October 12, 2026
Some things to consider doing between now and the rapidly approaching year end:
If you are retired: 1) make an estimate of your 2026 taxable income; 2) see how close this number is to your next-highest income tax bracket, as well as the next IRMAA surcharge if you’re on Medicare; 3) think twice about taking big IRA distributions between now and December 31, which includes Roth IRA conversions.
Need the numbers? We can email you a 2026 Key Financial Data sheet with what you need: Request one here.
If you are still working: 1) make an estimate of your 2026 taxable income; 2) see how far away you are from the next-highest income tax bracket; 3) if there’s still some headroom, consider “filling the bracket” with a Roth IRA conversion if it makes sense for your situation; 4) if you’re too close to the next bracket, see if you can kick up your traditional 401(k) contribution rate, and adjust your tax withholding if necessary before the end of the year.
This week’s not-so-fun fact: What percentage of your annual disposable income is going toward interest on money you’ve borrowed (mortgage, car loans, credit cards, etc.). For the average American it’s about 2.5% (Federal Reserve Bank of St. Louis).
Compare that with what you’re paying in federal income taxes, where more than 36 cents of every dollar you pay goes toward paying annual interest alone on the $40 trillion federal debt – which has increased by another $4 million since you started reading Wealth and Wisdom approximately one minute ago.
Cybercrooks are using artificial intelligence to look, sound, and act like people you know and trust. (Reading time: 3 minutes)
It’s one thing to be asked to tip when service has been bad or non-existent – but sneaking one onto your bill without even asking is crossing the line. (Reading time: 5 minutes)
Whether you choose to work beyond normal retirement age – or have to – there are some compelling reasons to stay on the job. (Reading time: 2 minutes)
If you need to see immediate gratification when pursuing your goal of getting out of debt, try this approach. (Reading time: 6 minutes)
Student loan debt has psychological as well as financial costs. Here are three ways to handle them. (Reading time: 4 minutes)
You might be surprised how much you can lower the amount you owe – if you know how to ask. This 6-step process will show you. (Reading time: 6 minutes)
It’s time to decide how to take RMDs before the year-end deadline. It’s also time to come up with a strategy that goes beyond year to year. (Reading time: 5 minutes)
The man who came up with the popular “four-percent rule” for retirement income has updated his findings. But if it’s a rule, why do they keep changing it? (Reading time: 5 minutes)
Your odds of needing long-term care at some point in your life are probably higher than you think. (Reading time: 5 minutes)
How effective can a comprehensive estate plan be if you never get around to implementing it? (Reading time: 5 minutes)
Words to the Wise
“A calm and modest life brings more happiness than the pursuit of success combined with constant restlessness.”
– Albert Einstein
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