This week, we’re tackling your retirement questions, with certified financial planner Rose Niang. We talk about selling property vs. becoming a landlord, relocating to a cheaper part of the country, how to save when you’re starting late, and a Roth 403b vs. a Roth IRA. If you have a question you’d like Jean to tackle on an upcoming episode, please reach out to us at mailbag@hermoney.com.
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Bonus Mailbag #36: Retirement 101

Anyone who tells you women don’t need financial advice specifically for them is wrong. Women, whether they’re the caretakers, the breadwinners, or both, face a unique set of financial challenges. That’s where HerMoney comes in. In her frank, often funny, but always compassionate way, Jean Chatzky takes every audience of women through the steps they need to take today to live comfortably (and worry-free) tomorrow, offering the latest research, expert tips and personal advice. Want more money news when you need it? Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at HerMoney.com/subscribe!

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Navigating money issues with your family is hard. Navigating money issues with your family is even harder when you’re a first-generation American. First-generation children of immigrants face unique cultural and emotional barriers and often find themselves at the intersection of building a financial life for themselves and supporting their parents financially. 
Gigi Gonzalez found herself facing this dilemma when she got serious about her finances and realized the information she was reading didn’t align with her lived experience or her values. So, she started posting about it on TikTok. Eventually, she quit her job in finance to become a full-time content creator. She offers her best advice on what to do when your personal finance goals clash with your family's money expectations. 
In Mailbag, we talk about the best investment options for a young kid, and a listener who doesn’t have much saved for retirement is wondering if she should take out a loan to pay her mortgage. In our news of the week, we cover the new magic number for retirement, the best time to sell your house this year, and what to do if you still owe the IRS money.
Takeaways:

TikTok can be a powerful platform for spreading financial literacy and building a personal brand.

First-generation Americans face unique challenges in wealth building due to cultural expectations and a lack of financial education.

Setting money boundaries with family can be challenging but necessary for financial well-being.

It is important to find a balance between paying off debt and investing.


Chapters:
00:00:00 - Introduction and Financial News Update
00:06:07 - Gigi's Financial Education Journey
00:09:04 - Transition from Finance Job to Content Creator
00:11:43 - Challenges as a First-Generation American
00:15:24 - Setting Financial Boundaries with Family
00:23:55 - Improving Financial Habits in Marriage
00:26:01 - Investing While in Debt
00:27:49 - Mailbag Segment
00:29:59 - Listener Question on Investing for Child's Future
00:33:54 - Listener Question on Managing Finances Pre-Retirement

Buy Cultura and Cash: https://www.thefirstgenmentor.com/my-book

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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.
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 419: What Your Culture Says About The Way You Manage Money

Think, for a second, about all of the things you do before you head to the gym or go out for a run. Do you wear special running shoes? How do you tie them? Do you give yourself a pep talk on days when you’re just not feeling it? Is there a certain playlist you always listen to? 
Dr. Mike Norton, author of: “The Ritual Effect: From Habit to Ritual, Harness The Surprising Power of Everyday Actions,” says while working out at a certain time of day may be a habit, all of these little things we do to get ready are rituals, and paying more attention to them can transform our lives (financially or otherwise).

Takeaways:

The connection between rituals and financial habits.

The difference between a ritual and a habit, with rituals adding emotion and meaning to actions.

How to avoid taking ritualistic behavior too far.

Insights on how rituals can help high performers manage stress.

How to introduce rituals into the workplace without seeming forced or silly.



Chapters:
00:00:00: Introduction and News Segment
00:05:43: Interview with Michael Norton Begins
00:07:38: Connection Between Financial Habits and Rituals
00:10:16: The Emotional Aspect of Rituals vs. Habits
00:12:13: Defining Rituals and Their Impact
00:13:45: When Rituals Become Excessive
00:18:06: Rituals of High Performers
00:19:54: Using Rituals to Prepare for Stressful Situations
00:22:41: Workplace Rituals and Meaningful Work
00:25:24: Where to Take the Ritual Quiz and Find More Information

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

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.
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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Make the Mundane Meaningful With Mike Norton

Money touches everything in our lives — including our health. And women know there’s one topic that has long been ignored in American society, to the detriment of millions of women: menopause. 
It’s a big deal. By 2030, 1 billion women worldwide will have entered (or will be about to enter) menopause and on average, medical costs for menopausal women ages 45 to 54 are 47% higher than they are for women of the same age who don’t exhibit menopause symptoms. Dr. Lisa Mosconi discusses her new book: “The Menopause Brain,” and explains how the transition impacts our brains and our lives. 
In Mailbag, HerMoney Editor-in-Chief Kathryn Tuggle is back to answer some down-to-the-wire tax time questions: A listener asks how she should prioritize paying the IRS vs. a credit card bill, and we hear from someone who’s having trouble getting a W2 for her daughter’s summer job. In our news of the week, why we still feel so bad about the economy and how stars mentioning a brand can move the needle on Wall Street. 

Takeaways:

Menopause is a neuroendocrine transition state that impacts the brain as much as it does the ovaries.

Neurological symptoms during menopause, such as hot flashes and memory lapses, are a result of the brain's response to hormonal changes.

Finding the right healthcare provider who is knowledgeable about menopause is crucial for receiving appropriate care.

Workplaces should implement changes to support women going through menopause, such as flexible schedules and a culture of understanding and inclusiveness.

Menopause can be a time of personal growth and new beginnings, and women should prioritize self-care and mental well-being during this stage of life.


Chapters:
00:00:00: Introduction and News of the Week
00:06:24: What is Menopause, Really?
00:08:25: Neurological Symptoms of Menopause
00:13:50: The Reshaping and Rewiring of the Brain During Menopause
00:18:36: Life Contentment and Menopause
00:20:22: Financial Costs of Menopause
00:25:57: Navigating Menopause in the Workplace
00:28:36: Second Adulthood and "Menno-Start"
00:31:31: Mailbag Segment Begins
00:35:15: Discussion on Tax Debt vs. Credit Card Debt
00:39:12: Filing Taxes Without a W-2 and Roth IRA Concerns

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

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.
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 418: The Menopause Brain with Dr. Lisa Mosconi

How much of your money do you spend on the clothes in your closet? Now what about your time? In other words, how much time do you spend staring into the abyss of your wardrobe? One study says that over the course of her lifetime, a woman will spend a full year in front of her closet from age 16 to 60, just deciding what to wear. And this doesn’t include all of the other time we’re supposed to spend making our closets more manageable and our wardrobes more streamlined. 
Kim France says it’s time to ditch ALL the rules, and start organizing our closets with more intention. She explains how we can prioritize the fashion rules that work for us, so we can stop staring into a full closet feeling like we have nothing to wear. 
Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe!

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.
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.
Takeaways:

Learn how to curate a wardrobe that resonates with who you are, not just what's in vogue.

Discover why Kim challenges the conventional wisdom of wardrobe purging.

Comfort is king in Kim's fashion rulebook. She shares how prioritizing comfort can lead to a more authentic and enjoyable dressing experience, and why it's okay to let go of those "excitement pieces" that don't feel right anymore.


Chapters:
00:00:00: News you can use
00:06:33: Kim France's Entry into Fashion and Philosophy on Getting Dressed
00:08:12: The Evolution of Kim's Fashion Philosophy
00:09:23: Evaluating Worthwhile Clothing Investments
00:14:05: The Process and Goal of Editing Your Closet
00:22:31: The Importance of Comfort in Fashion Choices
00:24:03: Kim France's Future Ambitions and Lifestyle Goals

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.
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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Budgeting For Your Closet

Have you ever gotten a message on Facebook that looks something like this? “HEY GIRL, I HAVEN’T SEEN YOU IN A WHILE, YOU LOOK AMAAAAZING. DO YOU WANT TO LOOK EVEN BETTER AT YOUR NEXT EVENT? BUY MY MASCARA AND I’LL THROW IN A FREE GIFT. BUT HURRY, SALE ENDS AT MIDNIGHT.” Yeah…those messages. 
While it may be easy to brush these off, roll our eyes, and hit delete, a surprising number of women in America are caught up in these businesses, known as multi-level marketing schemes, or MLMs. In today's episode, Jean talks to Jane Marie, author of Selling the Dream: The Billion Dollar Industry Bankrupting Americans about why MLMs target women specifically, the signs to look out for to know if you’re being targeted by one, and what to do next if you’ve already lost money.
In Mailbag, a listener asks how to find the best low-cost brokerage account, and we do the math on whether ‘becoming a millionaire by retirement’ is feasible for everyone. In our news of the week, we talk about Donald Trump’s new stock, the end of swipe fees on Visa and Mastercard, and the passing of behavioral economist Daniel Kahneman.
Takeaways:

MLMs often target women, offering them the opportunity to work on their own schedule and make money from home. However, the vast majority of participants in MLMs make little to no money and end up losing money.

The Federal Trade Commission (FTC) is responsible for regulating MLMs, but their resources are limited, and MLMs often fly under their radar. It is important for individuals to report their negative experiences with MLMs to the FTC.

MLMs continue to evolve and adapt, with new schemes constantly emerging. It is crucial for individuals to be vigilant and skeptical of any business opportunity that involves recruiting others and promises easy money.

Chapters:
00:00:00: Introduction to the podcast and the topic of MLMs 
00:10:03: Introduction of guest Jane Marie 
00:15:23: The nature of MLMs today
00:18:49: The appeal of MLMs to individuals 
00:21:17: The cycle of investment and loss in MLMs 
00:23:59: The reality of income in MLMs 
00:25:49: Why MLMs target women 
00:30:51: The role of the FTC in regulating MLMs 
00:32:51: Current trends and "flavors of the month" in MLMs 
00:34:37: Jane Marie's hopes for the impact of her book "Selling the Dream"
00:37:13: Mailbag 

Join us! Snag all the latest episodes, savvy budgeting tips, investing advice and even giveaways via the HerMoney Newsletter at Hermoney.com/subscribe!

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.
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

Bonus Mailbag #36: Retirement 101

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