HerMoney with Jean Chatzky

Latest Episodes:

Ep 441: The New Rules For Retirement Sep 18, 2024

Show notes

A few months ago, AARP released a survey that found that one in five Americans over 50 reported having no retirement savings, and over half don’t think they'll have enough money to keep them going in retirement. While many of us used to have pension plans to keep us afloat in retirement, now the vast majority of us rely heavily on Social Security and 401(k)’s.

Our system and our life expectancy are just different now…which means we need to plan differently. (And yes, this means we need to actually make a plan.) Christine Benz, author of How To Retire: 20 Lessons For A Happy, Successful, And Wealthy Retirement, shares her top strategies for planning the retirement of your dreams.

Join our free budgeting webinar on October 15th at 7 PM ET! https://us02web.zoom.us/webinar/register/WN_GXkmVlwFRVGfi39jim9xZQ#/registration

Chapters:

00:00 The Retirement Crisis

02:00 Planning for Longer Lives

04:01 The Shift in Retirement System

06:50 Challenges of Retirement

10:01 Cognitive Decline and Long-Term Care

13:46 The Bucket Approach to Retirement

22:14 How To Calculate Retirement Needs

26:24 The Impact of Taxes on Retirement

29:04 Non-Financial Aspects of Retirement

For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom and learn more at investingfixx.com.

Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here.

The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney.

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A “CD Tsunami” Is Coming: Are You Ready? Sep 16, 2024

Show notes

CDs (Certificates of Deposit) often get dismissed as "your parent's savings plan"—safe but, let's be honest, a little boring. But in today's high-interest-rate environment, they're making a strong comeback as a smart choice for short- and medium-term savings. With inflation cooling and the Fed expected to cut rates soon, these great rates won’t last forever.

Joining us today is banking veteran and CEO of CD Valet, John Blizzard, to break down what CDs are, who should consider them, and whether now is the perfect time to invest.

Chapters:

00:00 Introduction

03:14 How To Find the Best CD Rates

05:21 Retail CDs vs. Broker CDs

09:12 Locking in High CD Rates in a Decreasing Interest Rate Environment

11:24 CDs: A Savings Option for Savvy Savers, Retirees, and Event Savers

13:26 Shopping Around and Being Aware of CD Rollover Options

16:24 Considering Digital Capabilities When Opening a CD

Have a question for us? Write to us at mailbag@hermoney.com. While you’re at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom and learn more at investingfixx.com.

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Mailbag: How to decide if you need an annuity and when to close those high-interest credit cards Sep 13, 2024

Show notes

In this double-feature Mailbag, Jean talks to Kathryn and Audrey. Kathryn is a little over a decade from retirement and recently started a new job. In her new role, she'll be eligible to receive a pension when she retires. She's wondering if, in addition, an annuity makes sense for her.

Our next call is from Audrey who’s working on rebuilding her credit after not being employed for a little while. She’s wondering if now is the right time to close the credit cards she opened up that have monthly fees.

Chapters:

1:00 Mailbag Question 1: Do I need an annuity?

5:00 Investing and Planning for Retirement

9:00 Planning for Future Expenses

14:00 Mailbag Question 2: Is now the right time to close credit cards with monthly fees?

19:00 Building up an Emergency Fund

21:00 Goals for Financial Independence

Have a personal-finance question for us or want to jump on a call with Jean so you can get all of your follow-up questions answered? Write in at mailbag@hermoney.com.

Use promo code HERMONEY at the link below to get an exclusive 60% off an annual plan at https://incogni.com/hermoney.

Grab the exclusive NordVPN deal ➼ https://nordvpn.com/hermoney and get extra subscription time. Try it risk-free now with a 30-day money-back guarantee. Thanks to NordVPN for sponsoring our show.

Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com.

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Ep 440: Easy, Effective, and Inexpensive: How To Simplify Your Beauty Routine and Save Money Sep 11, 2024

Show notes

From lip butter to Botox, people today are shelling out a lot of money on beauty products and procedures. According to The Aesthetic Society, people in the U.S. spent $11.8 billion on aesthetic procedures in 2022. When it comes to beauty products, one report from Lending Tree shows the average American spends $1,754 annually, with younger generations budgeting even more for beauty (thanks, TikTok).

But do we really need to spend big bucks on beauty products and procedures to look our best? Val Monroe, the former longtime beauty director at O Magazine and writer behind the popular Substack How Not To F*ck Up Your Face, says it’s time to get back to basics.She joins us to talk about her simple skincare routine and whether you really need that new product you’re eyeing.

Chapters:

00:00 Introduction and the Shift in Beauty Conversations

03:21 The Importance of a Simple Beauty Routine

17:04 Exploring the Use of Botox and Fillers

27:24 Embracing Self-Acceptance

31:12 Making Informed Beauty Purchases Using the Five W's

32:00 Transition to Mailbag Segment

34:00 Mailbag Question 1: How much skincare do I really need?

38:00 Mailbag Question 2: What is the correct order for skincare products?

40:00 Mailbag Question 3: How long does it take to see results?

Use promo code HERMONEY at the link below to get an exclusive 60% off an annual plan at https://incogni.com/hermoney.

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HerMoney Classic: The Psychology Behind Our Shopping Habits Sep 06, 2024

Show notes

Did you spend too much this Labor Day weekend? Yeah...us too. Marketers are smart and they're only getting smarter. These days, there is so much targeted marketing based on what we like on Instagram, what we're watching on TikTok, or even (more creepy) the conversations we’re having with friends. Sometimes it can be really difficult not to just click buy when the recommendations are SO spot on.

So, how do we resist? And how do we know when it's really the best time to buy the mattress, or the TV, or the couch, or whatever is featured in that back-to-school special? Mindy Weinstein, marketing and psychology expert, and author of: “The Power of Scarcity, Leveraging Urgency and Demand to Influence Customer Decisions,” says it's all about figuring out if you actually need that thing or if you're a target of what she calls scarcity marketing.

Takeaways:

Scarcity is a powerful marketing tool that taps into our primal instincts and influences our decision-making process.
Scarcity triggers a sense of urgency and fear of missing out (FOMO), leading to impulsive purchases.
There are four types of scarcity: demand-related scarcity, supply-related scarcity, limited edition scarcity, and time-related scarcity.
Scarcity can be used by individuals to improve their personal and professional lives.
Understanding the tactics of scarcity marketing can help make smarter financial decisions.

Chapters:

00:00 The Power of Scarcity

03:19 The Science Behind Scarcity in Our Brains

09:11 Four Types of Scarcity

23:31 The Influence of Scarcity in the Economy

25:00 Transition to Mailbag Segment

26:00 Mailbag Question 1: What are the pros and cons of maintaining a long-term care policy?

32:00 Mailbag Question 2: Should I leave my full-time job and take on multiple part-time jobs?

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Ep 439: When Department Stores Were The Most Glamorous Place To Be Sep 04, 2024

Show notes

Close your eyes for a second and step back to the 1940s. Specifically, New York City in the 1940s. You’re walking down the crowded street with a certain pep in your step because guess what? You’re headed to your favorite department store, Lord & Taylor.

Department stores were not only the places where women shopped but also the places where women had power — power they did not have elsewhere at the time. Julie Satow joins us to talk about her new book: “When Women Ran Fifth Avenue: Glamour and Power at the Dawn of American Fashion,” and how women working in department stores in the early 1900s carved new paths for what it means to be a woman at work today.

Chapters:

00:00 Department Stores in the early 1900s

6:00 How Department Stores Empowered Women

14:17 Challenges Working Women Faced

23:36 Inspiration for Women Today

30:00 Transition to Mailbag Segment

32:00 Mailbag Question 1: Where do I put the money my kids made this summer?

37:00 Mailbag Question 2: Will closing my business credit card hurt my credit?

Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com.

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Mailbag: I'm a 39-year-old single woman, how much house can I afford? Aug 30, 2024

Show notes

In this Mailbag, Jean talks to Ally, a 39-year-old single woman who bought a house in 2020 when rates were low and is wondering if now is the right time to upgrade and whether or not to keep her current home as a rental property.

Have a personal-finance question for us or want to jump on a call with Jean so you can get all of your follow-up questions answered? Write in at mailbag@hermoney.com.

Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Ep 438: The Lies Women Are Told At Work (And Why We Shouldn’t Believe Them) Aug 28, 2024

Show notes

Very classy, very demure, very mindful…that’s how the new TikTok trend that recently went viral from creator Jools Lebron says we should be in the workplace. We should be presentable, wear minimal, clean makeup, and not take up too much space. In other words, we should be bringing a muted version of ourselves to the workplace.

Bonnie Hammer, Vice Chairman of NBC Universal and author of: “15 Lies Women Are Told At Work: The Truth We Need To Succeed” has a different take. She says work doesn’t have to be the place where we leave our “fun” real selves behind, not anymore. Listen in to hear the other outdated lies Bonnie says are holding us back at work and the truths we need to succeed.

Chapters:

00:00 Introduction

2:55 Embracing Fun and Authenticity in the Workplace

04:33 Following Opportunities Instead of Chasing Dreams

08:14 Differentiating Personal Worth and Professional Worth

13:54 Embracing Stereotypically Female Characteristics as Strengths

19:52 Supporting and Uplifting Women in the Workplace

29:54 Embracing Change and Paying It Forward

35:00 Transition to Mailbag Segment

38:00 Mailbag Question 1: Pre-retirement, should I pay off my home or put more money into an annuity?

43:00 Mailbag Question 2: I want to retire when I’m 56, do I have enough saved?

Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com.

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4 Things You Should Do Right Now To Protect Your Data Online Aug 26, 2024

Show notes

Last week, 2.9 billion records of personal data were for sale, from people in the US, Canada, and Britain, stolen from a company that does background checks called National Public Data. This data breach included the holy grail, Social Security numbers.

This is just one of the thousands of data breaches that have happened so far this year and a continuation of a growing pattern. Kim Komando joins us to share the 4 simple steps you can take right now to protect your data online.

Chapters:

00:00 The Impact of Data Breaches

02:34 How To Check if Your Data Is Part of a Breach

09:42 Opting Out of Data Broker Sites

13:15 Paid Services For Removing Personal Information

17:36 Password Etiquette

21:53 Privacy Risks of Smart Devices

24:05 Key Takeaways and Staying Informed

Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom and learn more at investingfixx.com.

Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com.

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Annika Sorenstam On Finding Success, On and Off the Green Aug 23, 2024

Show notes

Annika Sorenstam is one of the best female pro golfers that the world has ever seen.

She also is a woman, like many of us, who started out with very little money, made some, and had to learn first how to budget it, and then how to invest it. She shares how she manages her money and advocates for other female professional golfers, on and off the green.

Chapters:

00:00 The Parallels Between Sports and Personal Finance

03:19 Discipline and Preparation for Success

07:41 Applying Discipline to Financial Life

10:33 Savings and Investment Strategies

18:16 Off-Course Development for Young Women in Golf

26:27 Transitioning from Sports to Life After

35:33 The Benefits of Playing Golf

Takeaways:

Discipline, preparation, and building on small habits over time are key to achieving success in both sports and personal finance.
Having sponsors like Gainbridge is crucial for supporting initiatives that empower women in sports.
Learning the game of golf has numerous benefits, including inclusivity, physical and mental challenges, and social connections.

Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com.

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