HerMoney with Jean Chatzky

Latest Episodes:

Ep 437: Revamp Your LinkedIn and Get Hired in a Wacky Job Market Aug 21, 2024

Show notes

However you feel about LinkedIn, there’s no denying that having a profile is important. According to Forbes, LinkedIn is an essential platform to not only establish a professional online presence but also to showcase your skills and accomplishments.

Hala Taha, top LinkedIn influencer and host of the Young and Profiting podcast says that having a LinkedIn that gets you noticed is so much more than uploading your resume and a nice headshot. She shares how to use LinkedIn effectively to build your personal brand and get noticed by recruiters and hiring managers.

Takeaways:

Having an up-to-date LinkedIn profile is important for standing out to recruiters and making a positive impression.
Being a content creator on LinkedIn can help you establish your personal brand and grow your following.
Using keywords strategically in your profile can improve your visibility and make it easier for recruiters to find you.
LinkedIn is a valuable platform for finding clients and job opportunities.

Chapters:

00:00 Introduction

05:00 Hala’s Early Career & Setbacks

11:00 How Hala Built YAP Media

15:00 Building A Personal Brand on LinkedIn

27:00 Strategies For Landing A Job Using LinkedIn

30:00 Transition To Mailbag Segment

37:00 Mailbag Question 1: How do I make sure I’m being compensated fairly?

43:00 Mailbag Question 2: Is it wise to annuitize part of my 403b?

Further Listening: How To Rock Your LinkedIn Profile

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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Mailbag: My friends are about to inherit money, how do I talk to them about using it wisely? Aug 16, 2024

Show notes

In this Mailbag, Jean talks to Allie, who is looking for advice on how to help her friends who are about to inherit a significant amount of money. She wants them to make smart financial decisions and overcome their struggles managing money in the past.

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.

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.

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 436: Kick It: How To Push Limits To Tackle Your Physical and Fiscal Goals Aug 14, 2024

Show notes

Learning something new can be daunting, especially as you get older. But here’s the thing, the sooner you master a new skill, whether it be how to invest in the stock market, manage your debt, or take on a new sport — the closer you are to mastering it.

Gwendolyn Bounds, author of “Not Too Late: The Power of Pushing Limits At Any Age,” wants you to ignore that nagging voice at the back of your head that says that you don’t know enough to get started and just take the first step. She did that when she took on Spartan Racing at age 47 and today, we’re talking about the parallels between striving for financial and physical goals at any age.

Takeaways:

Setting big goals, whether they be physical or financial, and breaking them down into smaller steps is the key to achieving personal growth.
Overcoming financial and physical challenges requires perseverance and a willingness to push yourself beyond your comfort zones.
Financial and physical challenges share similar processes of setting goals, learning new steps, getting out of your comfort zone, and seeing incremental improvements add up.

Chapters:

00:00 Introduction

03:04 The Power of Learning New Skills in Middle-Age

06:39 Embracing New Challenges, Spartan Racing

12:17 Similarities Between Personal Finance and Exercise

19:13 Overcoming Fear

23:54 Finding Patience in Plateaus and Setbacks

33:18 The Connection Between Financial and Physical Well-being

35:46 Transition to Mailbag

39.30 Mailbag Q 1: Should I take out a reverse mortgage?

43.51 Mailbag Q 2: Should I invest my HSA money?

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.

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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HerMoney Classic: Stop! When Doing Less Is The Right Money Move Aug 09, 2024

Show notes

When we start losing our hard-earned money in the market, we want to put a stop to it. We want to take action. But statistically, we know that investors who stay the course do better over time than those who try to time the markets.

Jinny Uppal, author of “IN/ACTION: Rethinking the Path to Results," dishes on why we should stop listening to the voice in our head that tempts us to a default action path. "The belief that ‘I am the one who can control the outcome with my action,’ makes us take more action than is necessary," she says. In Mailbag, we advise a divorced listener on setting up a trust for her son.

Takeaways:

Why strategic inaction might be your best move during times of instability in the market.
Personal signals that indicate when to take action or pause.
Why we associate action with results and how that could lead us astray.
It’s important to take informed actions based on thoughtful consideration.

Chapters:

0:00 Intro

3:30 The Importance of Thoughtful Pauses

5:57 When To Take Action and When To Pause

7:40 Recognizing Signals of Stress

10:19 Investment Recommendations

22:55 Right Action vs. Inaction

33:56 Mailbag: Setting Up a Trust and Estate Planning

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Ep 435: The True Cost of Motherhood in America Aug 07, 2024

Show notes

Today is Mom’s Equal Pay Day so we’re talking about the reality of motherhood in America today, no not the reality we see on social media where momfluencers make pregnancy to childbirth, to raising multiple kids seem like a breeze…we’re talking about what it’s really like to have kids in a country that doesn’t make it easy for us.

Jessica Grose, author of, “Screaming on the Inside: The Unsustainability of American Motherhood,” said she did everything right before she had kids, she was married, had a successful, thriving career, and was debt-free, but she still wasn’t ready for the reality of motherhood, and doesn’t think any of us are. We go over what every woman should do before welcoming a new addition to set themselves up for success.

Takeaways:

Having children in America can have negative financial and career implications.
Cultural norms around motherhood in the United States are contradictory and place unrealistic expectations on mothers.
Governmental solutions such as paid family leave and affordable childcare are needed to support working parents.
Parents should support each other and ask for help when needed, and society should be more understanding and less judgmental of parents in public spaces.

Chapters:

0:00 Challenges of Motherhood in America

11:16 Changing Expectations of Motherhood

15:33 Paid Family Leave and Solutions

22:32 Childcare Costs and Inflation

24:22 Advice for Parents Considering New Jobs

27:33 Transition to Mailbag Segment

33:30 Mailbag Question 1: Managing a $2 Million Inheritance

38:26 Mailbag Question 2: Splitting Finances with A Live-In Partner

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What To Do With Your Investments In a Down Market with Jean Chatzky and Karen Finerman Aug 06, 2024

Show notes

In this special episode, Jean Chatzky is joined by professional investor and cohost of our InvestingFixx club, Karen Finerman. They’re talking about what the heck is going on with the stock market right now.

With tech stocks plummeting and recession fears looming, Jean and Karen emphasize the cyclical nature of markets and the importance of staying calm in a downturn. They share their extensive experience with market fluctuations and offer practical advice on managing your investments during turbulent times.

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

Takeaways:

Don't panic and fall for herd mentality during market fluctuations.
Review your holdings and look for opportunities during market downturns.
Control risk by avoiding leverage and being in charge of your positions.
Consider making IRA contributions and buying stocks on sale during market drops.

Chapters:

0:00 Intro

7:11 Market Reaction to Bad Jobs Report

8:24 Concerns About Achieving A Soft Landing

10:57 Challenges with the Yen

13:10 Warren Buffett's Apple Stake

15:15 Comparison to the Market Crash in 1987

18:43 Advice on Market Volatility

23:53 Risk Management in Trading

27:25 Investing Strategy During Market Downturns

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Mailbag: How To Have Your Toughest Money Conversations Aug 02, 2024

Show notes

You asked, we answered! In this Mailbag, Jean is joined by Celeste Headlee, author of, “We Need To Talk: How To Have Conversations That Matter” to talk through how to approach your toughest money conversations.

They tackle your questions on everything from preparing kids for navigating their own finances in college to addressing salary disparities at work. Celeste shares practical advice from her own life, including budgeting tips for teens and strategies on how to approach a raise conversation with your employer.

Have a question for us or want to jump on a call with Jean? Write in at mailbag@hermoney.com.

Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe!

Takeaways:

Break financial conversations into smaller parts to make them more manageable and focused.
Involve children in budgeting and decision-making to help them understand the cost of living and the value of money.
Salary transparency is important for achieving pay equity, but it's not necessary to disclose salary information to coworkers or family members.
Consider the context and purpose of financial conversations before sharing.

Chapters:

0:00 Introduction

1:00 Tough Money Convo 1: How To Talk College Financials With Your Kid

6:25 Tough Money Convo 2: Coworkers Payscale and Asking For A Raise

10:00 Tough Money Convo 3: How To Respond When Family Asks About Salary

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Ep 434: Taking Vacations Is Good For Your Career (Really) Jul 31, 2024

Show notes

We’re smack dab in the middle of one of the hottest summers on record and although the heat can make many of us go a little crazy, it also forces us to slow down a lot, spend some time by the pool or the beach (or in the comfort of your living room with the AC on full blast) and embrace boredom more.

Celeste Headlee, author of, “Do Nothing: How to Break Away from Overworking, Overdoing, and Underliving,” joins us to talk about why taking all of your vacation days is good for your career and how to really disconnect when you’ve turned on your OOO.

Takeaways:

Embracing boredom and taking time for rest and relaxation can lead to better ideas and improved creativity.
Taking vacations is essential for overall well-being and can lead to career success.
Finding the best times for focused work and understanding our own productivity patterns can improve efficiency and work-life balance.
Younger generations are rejecting toxic work culture and prioritizing work-life balance and well-being.
Defining personal goals and focusing on end goals rather than means goals can lead to greater happiness and fulfillment.
It's important to reevaluate priorities and find a healthy balance between work, rest, and personal fulfillment.

Chapters:

0:00 Introduction

2:35 Embracing Boredom for Creativity

7:17 Importance of Taking Vacation Time

13:15 The Three-Pronged Influence on Work Guilt

19:18 Gen Z's Preference for Analog Solutions

22:14 Intrinsic vs. Extrinsic Motivation

26:58 Transition to Mailbag Segment

29:37 Retirement Investments

32:10 Pre-Retirement Financial Checkup

34:45 High Yield Savings Accounts

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!

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Mailbag: Should I change my asset allocation as I approach retirement? Jul 26, 2024

Show notes

In this Mailbag, Jean talks to Cecilia, a 58-year-old listener, about asset allocation and portfolio management as she approaches retirement. She has a defined benefit pension and government benefits, but also wants to draw down on her portfolio for the first few years of retirement.

They explore the need to adjust asset allocation, the role of fixed income in your portfolio, and the importance of building a cash cushion for the initial years of retirement.

Have a question for us or want to jump on a call with Jean? Write in at mailbag@hermoney.com.

Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe!

Takeaways:

Consider adjusting asset allocation as you approach retirement, taking into account fixed income sources such as pensions.
Build a cash cushion to cover the initial years of retirement, reducing the need to sell investments at a loss during market downturns.
Consult with a financial advisor to create a comprehensive retirement plan, including strategies for cash flow management and mortgage payoff.
Evaluate the benefits of individual bonds versus bond funds, considering the potential volatility of bond funds and the security of principal with individual bonds.

Chapters:

0:00 Introduction

2:11 Asset Allocation and Retirement Planning

5:13 Cash Cushion for the Initial Years of Retirement

8:02 Consulting with a Financial Advisor

11:00 Mortgage Payoff Strategies in Retirement

12:57 Individual Bonds vs. Bond Funds

15:00 Conclusion

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Ep 433: Are Annuities A Good Investment? What They Are And Why Women Should Consider Them Jul 24, 2024

Show notes

When we think about our financial fears, one tops the list: Running out of money before we run out of time. According to the Center for Retirement Research at Boston College, half of all US households are at risk of not having enough income to maintain their standards of living in retirement.

The bottom line is that Americans have a problem and we know it. The good news is that we have the ability to fix this problem in our own individual lives, with tools we already have access to today. They’re called annuities, and more people are interested in, and buying annuities, than in years past.

Minji Ro, Chief Strategy Officer at Gainbridge, and Jason Fichtner, Chief Economist at the Bipartisan Policy Center join us to talk about what annuities are, why economists like them, and the advantages of considering them as part of your retirement portfolio.

Chapters:

0:00 Intro

4:04 Defining Annuities: What They Are

12:06 The Shift in Retirement Income Strategies Over Time

14:01 The Three Major Types of Annuities: Fixed annuities, Fixed Indexed Annuities, and Variable Annuities

21:23 Transitioning Mindset: From Saving and Accumulating To Spending And Securing Protected Income

24:28 Annuities and Managing Longevity Risks As Women

30:00 Transition to Mailbag Segment

33:23 Retirement For Highly Compensated Employees

41:34 When To Get A Second Opinion From A Financial Planner

Takeaways:

Annuities can provide a guaranteed stream of income during retirement.
There are three main types of annuities: fixed, fixed index, and variable.
Economists like annuities because they offload risk and provide income protection.
There is a behavioral barrier to annuitization, but changing the framing and understanding the benefits can help overcome it.
Women, who earn less and live longer, should consider annuities to manage longevity risk.

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!

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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