These personal stories from 5 fee-only wealth managers in Washington, DC show that there isn't one correct way to invest your family's money.

Welcome to Financially Well, the finance podcast for Millennials.

Parents often ask, "Is it too late?"

For example, "My child is already three and I've heard that the first three years are the most important. Is it too late?"

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, discusses why, in both parenting and personal finance, you can "recover, rebuild, and begin again."

You may regret a few of your past financial choices. But it's rarely too late to change. And when it comes to retirement, you may want to start with a Roth conversion.

Welcome to Financially Well, the finance podcast for Millennials.

Money is a tool. A means to an end.

And this includes an inheritance. The only difference is that those dollars may carry more emotional weight for you.

As the book Die With Zero frames it, "Having money helps you to achieve the goal of enjoying your life." Whether it involves a big house for your family or something else entirely.

And isn't this what your loved one would want from the inheritance that she or he gives you?

Many companies rely on complexity to make money. Because complexity enables them to misprice their offerings.

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, discusses in this episode how complexity also exists in personal finance.

Complex personal finance products, like whole life insurance, work for some people. But only for certain customers and under certain conditions.

With money, simple and straightforward is often the better approach for most people.

Welcome to Financially Well, the finance podcast for Millennials.

What do my best finance podcasts for Millennials picks have in common? During my research, I looked for the following three criteria:

1. Empathy
2. Clarity
3. Sustainability

With that in mind, here are what I consider to be the 5 best finance podcast for Millennials in 2025.

At one point, the U.S. stock market was up 27.49% in 2024. But you've probably never heard of the year's best-performing companies.

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, discusses why effective investing doesn't require you to know these companies.

When you invest in "passive" index funds, you're not here for entertainment. Instead, you're playing to win the game through the smartest route possible.

Welcome to Financially Well, the finance podcast for Millennials.

Without an estate plan, probate can tie up your money for anywhere from three months to five years.

Your family is too valuable to you to settle for that outcome.

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, discusses how a professional will, trust, and medical directives can fit your unique circumstances.

The right estate plan ensures that you leave a financial legacy that will reflect you.

Welcome to Financially Well, the finance podcast for Millennials.

Research suggests that, when you invest in a 401(k), the tax break earns you an extra 0.73% each year. But you also lock up that money until you're 59 and a half.

Is that risk worth the benefit to you?

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, discusses how we evaluate financial benefits and risks.

We need to keep the big picture in mind. The connection between financial flexibility and living the life we want is strong. We can't dismiss that benefit.

Welcome to Financially Well, the finance podcast for Millennials.

Over a 10-year period through 2022, the average investment fund returned 7.7%. But the average person invested in those funds earned only 6%.

Why?

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, explains that the difference between your investment return and your index fund's return comes down to timing.

And what if your investment mistakes merely reflect where else your mind was that day?

Welcome to Financially Well, the finance podcast for Millennials.

Compelling options to save for retirement, including the mega backdoor Roth, exist. But only if you have access.

Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, talks about how the opportunity to save $69,000 in a tax-advantaged account is no small thing.

You should be adamant that you get access.

Welcome to Financially Well, the finance podcast for Millennials.