Financially Well

How much interest does your savings currently earn in your bank account? What type of terms would you accept for a 7% return on that money?

Welcome to the millennial finance podcast Financially Well. In this episode, Kevin Mahoney, CFP® will consider whether Series I savings bonds are the best investment opportunity right now for Millennials with extra savings. In particular, he'll tell you what I bonds are and how you can evaluate whether they make sense for your finances.

Kevin, who specializes in financial planning for Millennials, regularly hears from peers who want to "make their money work" for them. I bonds are trendy right now as a form of inflation protection, but how does this investment choice fit within your portfolio and overall objectives? I bonds will make sense for some savers. Are you one of those people, though?

Did you know that HSAs, or health savings accounts, offer better tax benefits than most investment accounts? Yet, uncertainty about the details has led many Millennials to question why an HSA is worth it for them.

Welcome to the millennial finance podcast Financially Well. In this episode, Kevin Mahoney, CFP® will discuss why an HSA is worth it for many Millennials who want to grow their wealth. And he'll talk about how you can minimize any concerns you may have about investing in a health-specific account.

Kevin, who specializes in financial planning for Millennials, regularly hears from peers who wonder whether they should add yet another account to their personal finance to-do list. As Morningstar journalist Christine Benz writes, though, you have "two key ways to get your money out sooner without negating the tax benefits of the HSA."

When you're thinking about your financial decisions, what questions do you ask yourself? Do you focus on what you can control (your savings rate) or unpredictable variables (the inflation rate)?

This is the millennial finance podcast Financially Well. In this episode, Kevin Mahoney, CFP® will talk about how rising inflation might impact Millennials in the years ahead. Specifically, he'll explore why inflation may matter to you.

Kevin, who specializes in financial planning for Millennials, hopes you'll ultimately understand that, in many circumstances, you're best off focusing on what you can control about your money.

If you've ever researched "financial planning," you've probably come across an article such as Nerd Wallet's "10 Questions to Ask a Financial Advisor." These articles are very useful, especially for anyone who has never worked with a financial advisor. But these questions also reflect the minimum that you should consider when seeking out a financial plan. The best questions to ask a financial advisor should specifically address your money emotions and the life you want.

Do you remember the last time you felt stressed about money? Is it possible that your ability to understand the source of that stress may be more important than other aspects of your personal finances?

This is the millennial finance podcast Financially Well. In this episode, Kevin Mahoney, CFP® will talk about why so many people feel stressed about money. In particular, he'll discuss how we can use this awareness about our money feelings to improve our financial behavior and minimize our financial stress.

Kevin, who specializes in financial planning for Millennials, wants his peers to understand why the beliefs that we hold about money often make our personal finances feel so daunting, regardless of the reality.

Emergency savings incentives at work are a positive step forward for employee financial wellness, right? How should Millennials incorporate this trendy benefit into their personal finance decisions?

This is the millennial finance podcast Financially Well. In this episode, I'll discuss why companies increasingly offer emergency savings accounts to their Millennial employees. In particular, Kevin Mahoney, CFP® will discuss how to incorporate this new employee financial wellness benefit into your financial decisions.

Kevin, who specializes in financial planning for Millennials, regularly hears from his peers about their struggles to build and manage emergency savings accounts. As Wall Street Journal reporter Anne Tergesen writes, some employers have started to offer such accounts -- along with savings incentives -- as a financial wellness benefit. Millennials may benefit from this nudge to save, but they also should remain focused on the decisions that will most impact their finances over the long term.

What does it mean to automate your finances? Why and how might Millennials adopt this strategy to boost their chances for financial success?

This is the millennial finance podcast Financially Well. In this episode, we'll share tips from the field of behavioral finance. In particular, Kevin Mahoney, CFP® will discuss how to automate your finances. Kevin, who specializes in financial planning for Millennials, regularly hears about new financial tech, tasks, and ideas that his peers want to add to their lives. But author Bob Seawright (who writes The Better Letter), argued for a different approach in a recent Substack newsletter called, "Addition by Subtraction." Seawright shows how, in the case of money, doing less often leads to better outcomes.

Are you on track for retirement and your other long-term financial goals? How can you manage your money better in 2021 and the years ahead?

This is Financially Well, the millennial finance podcast, where we'll help you to understand today how to make your money work for you. In particular, Kevin Mahoney, CFP® will discuss the role that time plays in investment success. Kevin, who specializes in financial planning for Millennials, regularly hears that people aren't sure how to use their savings more productively. In a recent article called, "Go Big, Then Stop," author Nick Maggiulli (Of Dollars and Data) looks at both math and behavior to show why the sooner you can make your money work for you, the better.

Are Millennials running out of time to build wealth? How much wealth do most Millennials actually have?

This Millennial finance podcast episode explores how we define wealth. Many people would consider someone with a high salary or large investment account "wealthy." But as author Morgan Housel argues in his recent article, "The Highest Forms of Wealth," we might want to think about wealth in terms of time and freedom from financial stress. In fact, Financially Well host Kevin Mahoney, CFP® has seen, in his work on financial planning for Millennials, how redefining "wealth" can change how his peers approach their personal finance decisions.