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| Subscribe to The Daily Money newsletter. Come for our roundup of each day's top stories from USA TODAY Money. Stay for the pop-culture references and financial news-inspired playlist. |
| Happy Thursday, Daily Money readers. It's Jayme Deerwester again. I come bearing the name reveal for that new fur child I was telling you about yesterday. She shall henceforth be known as Rojas, after my favorite "Ted Lasso" character . I picked it so I can sing "Na na na na, Rojas! Doggie Rojas!" whenever she enters the room. Also, because puppy playtime is life. |
🗞 News you should know 🗞 |
| Starting Friday, Feb. 18, an annual membership for new members of Amazon Prime will go up $20 from $119 to $139 and the monthly fee will go up $2 from $12.99 to $14.99, the company said in early February. |
| For current Prime members, the new price will apply after March 25 on the date of their next renewal. But what if your renewal is after that date? Is it possible to avoid the increase? |
| Time to treat yourself or a friend. Go to Amazon's website and visit the page for giving Prime as a gift before Friday, Feb. 18. Choose between a one-year membership for $119 or a 3-month plan for $39. |
| Pick your annual membership, and add it to the cart. After you proceed to checkout, type in the recipient's email address (which could be yours if you're getting it for yourself), and the delivery date. Save the gift option, then follow the instructions on screen. Amazon also says if you put in your email address, you have the option of forwarding the gift subscription yourself. |
🚨 More stories you shouldn't miss 🚨 |
| NO LONGER THE 'MASK POLICE': End of mandates brings relief for (some) business owners. |
| DISNEY PARKS RELAX MASK RULES: Starting Thursday, vaccinated guests only need to wear them in a few places. |
| HAVE SERVICE DOG, WILL TRAVEL. Here's how an experienced traveler does it. |
| HOW MUCH DOES A VIRGIN GALACTIC SEAT COST? $450,000. Here's what each trip includes. |
| WALMART EARNINGS 2022: Retailer boosts profits, sales amid inflation. |
💡Daily insight 💡 |
| With the rate of inflation having risen to 7.5%, highest in 40 years, is it best to stay the course or to bail out in search of higher returns with other investments? |
| Based on research, certified financial planner Ray LeVitre believes he has the answer. |
| LeVitre, who founded the Net Worth Advisory Group in Sandy, Utah, took a close look at bursts of inflation over nearly a century. Most of those periods came and went within a couple of years, often followed by solid rebounds. |
| To anyone holding stocks, the onset of the inflationary spiral was devastating to portfolios. Investing $10,000 entirely in a mix of stocks — from large cap growth to small cap value – in 1972 would have shrunk by $3,935, nearly 40%, within two years, LeVitre's analysis shows. |
| Investing $10,000 entirely in a mix of bonds – no stocks or cash – would have resulted in falling $1,275 behind inflation. And going entirely to short-term instruments by buying only Treasury bills also came close to beating inflation. |
| Investing in a 50-50 mix of stocks and bonds, however, would have provided investors with the asset mix necessary to beat inflation, LeVitre said. During the 1970s, those investors would have managed to have come out $209 ahead. |
💵 Tax hacks 💵 |
| If you're dreading the idea of filing this year's tax return, you're probably in good company. But here are three tactics you can employ to make the process of filing your taxes easier. |
| Look at last year's tax return before you get started. Use that return to see what deductions you claimed and what information you submitted to the IRS. From there, you can make a list of the documents you'll need to complete your taxes this year. |
| File your taxes electronically. Today's software programs are set up to catch math errors and potentially flag other mistakes that could cause your return to get rejected or audited. |
| Get a second pair of eyes on your return before submitting it. This doesn't mean you have to pay a professional to help you with your taxes. Rather, enlist the help of your spouse, a family member, or a trusted friend to proofread your return before sending it in. |
🎶 Mood music 🎶 |
| This week's news about Virgin Galactic fares inspired me to use the David Bowie classic "Space Oddity." For here am I sitting in my tin can, far above the world. Planet Earth is blue And there's nothing I can do." And as a bonus, here's one of his his favorite covers , performed at the International Space Station by Canadian astronaut Chris Hadfield. |
| LISTEN WHILE YOU WORK: Remember, you can listen to this song and every track I've quoted in the newsletter in the Daily Money Mood Music playlist on Spotify. |
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