Money Talks! with Lynn Kitchen

How Would Barbie Invest Her Movie Money Now?
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Barbie has always been a role model for girls around the world. Throughout her lifetime, Barbie has excelled at more than 200 professions, from astronaut to firefighter to rapper…. Barbie has shown that girls can dream big and aspire to be whatever they want to be.

Along the way, Barbie learned early to become SMART by investing her own money.

As a fictional hero, we can speculate that Barbie also became an ACE MONEY MANAGER parlaying her earnings into a lifetime fortune, living her biggest dreams, and being listed in Forbes as the world’s most successful woman investor, ever, in league with Warren Buffet!

 It wasn’t easy at first. Born in March 1959, Barbie had early successes, however, with such high wardrobe and travel expenses, Barbie had to scrimp and save every extra penny to fill her pink piggy bank.

 But one day she made an amazing discovery. She found out about “The Magic of Compound Interest” and learned that by saving just $100 every month at 4% interest starting at age 20, she would have over $150,000 by the time she was 65. She began doing just that faithfully.

 Barbie then decided to use her brand’s success story to maximize her investing success too. Starting with the “Rule of 72”, she learned she could DOUBLE her money every 7 years IF she made “Quality” investments with consistent, persistent growth rates of 10% annually.

Understanding Investment Basics

This is crucial for anyone looking to invest their money. Before investing, it is important to have a clear understanding of the stock market, bonds, mutual funds, and other investment options. It’s also important to learn how to “pay yourself first” by contributing the maximum allowable amounts into retirement vehicles that grow tax-free, like IRA’s, Roth IRA’s, 401K Plans, or other tax-advantaged accounts.

 Barbie’s brand success story can provide some insight into investing. Barbie’s parent company, Mattel (MAT) has been selling toys for over 75 years and has had volatile ups and downs. Although Barbie’s success has helped Mattel’s stock rise over the years, the valuation of the company went sideways for nearly 30 years at an adjusted $2 per share until the year 2000 when it reached $45 per share during the “dot-com boom” years.

Barbie’s long-term holding strategy paid off! That was a 2250% gain on Barbie’s original investment of Mattel, however, the stock swiftly collapsed back to $5 before swinging back up to $45 in 2015. Currently selling at $20 per share, Barbie has certainly been on a roller coaster ride in Mattel. Although the worldwide blockbuster hit movie should add significant revenues and profits for Mattel (and for Barbie) this “volatility” led to Barbie’s next big discovery!

Importance of Diversification

Diversification is an important concept in investing. It involves spreading your money across different types of investments, such as stocks, bonds, and real estate. This helps to reduce the volatility and the risk of losing money if one investment performs poorly.

Barbie began to create a diversified portfolio, starting with low-fee index funds, like the Dow 30, the S&P 500, the Nasdaq 100, and others. She... read more

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Personalized Q&A, plus what you learn here helps you make smarter money decisions for a LIFETIME.

Attending Lynn Kitchens Money Talks for Women Workshop is Crucial; Season 2 Ep 112 Lynn Kitchen Money Talks Podcast

Attending Lynn Kitchen's Money Talks for Women Workshop can be a transformative experience for women wanting to control their finances and build a secure financial future. The workshop is designed to give women the knowledge, tools, and resources they need to make informed financial decisions, achieve financial independence, and fund their dreams.

Lynn Kitchen is a financial coach, consultant, and leadership expert with over 34 years of experience as an executive financial advisor. She has been "tapped on the shoulder" to share her expertise and help more women gain financial freedom. Her focus is on financial literacy, money empowerment, and the future success of women. The Money Talks for Women Workshop is an extension of her mission to help women maximize their potential and achieve their financial goals.

By attending the Money Talks for Women Workshop, women can better understand their finances, learn how to manage their money effectively and develop a plan to achieve their financial goals. They can also connect with other like-minded women and build a supportive community to help them stay on track and succeed in their personal and professional lives.

Understanding Lynn Kitchen's Money Talks for Women Workshop

Lynn Kitchen's Money Talks for Women Workshop is a comprehensive financial clinic designed specifically for women wanting to control their finances. The workshop is a three-day online event covering various topics, including budgeting, debt management, investing, and retirement planning.

The Money Talks for Women Workshop is designed for women of all ages and financial backgrounds. Whether you are just starting your career or are nearing retirement, the workshop provides valuable insights and strategies to help you achieve your financial goals.

Overall, Lynn Kitchen's Money Talks for Women Workshop is a valuable resource for women wanting to control their finances and achieve financial independence. With Lynn's expert guidance and practical advice, participants will gain the knowledge and confidence they need to build a secure financial future.

The Importance of Financial Literacy

Financial literacy is the knowledge and skills required to make informed financial decisions. It is essential to personal financial management, budgeting, and investing. With financial literacy, people may be able to manage their finances effectively, leading to financial stress, debt, and other financial difficulties.

Financial literacy is particularly important for women who face unique financial challenges. Women tend to earn less than men, take more time off work to care for children or elderly relatives, and live longer, all of which can affect their financial security. According to a National Financial Educators Council study, women scored lower than men on financial literacy tests, highlighting the need for financial education targeted toward women.

Attending Lynn Kitchens Money Talks for Women Workshop can help women improve their financial literacy and gain the knowledge and skills needed to make informed financial decisions.


Read More: https://lynnekitchen.com/achieve-financial-freedom/

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Personalized Q&A, plus what you learn here helps you make smarter money decisions for a LIFETIME.

WHAT'S DEBT GOT TO DO WITH IT? Season 2 Ep. 111 Money Talks with Lynn Kitchen

5 Steps to Deleverage Your Life for 50-year-olds.

Deleveraging and eliminating debt is a crucial financial tool to help 50-somethings achieve their long-term financial goals. It is the process of reducing the debt in an individual's finances. Doing so can improve their financial stability, reduce their risk of defaulting on loans, and increase their credit score. Because if that is a problem that worries you, especially if you're in your 50s and getting ready for retirement within a decade. It would be best if you did something now to heal the debt to Deleverage your life so that you can shift your energy into creating and building long-term wealth.
Understanding Deleveraging is the first step toward successfully implementing this financial tool. It is essential to know the difference between leverage and deleverage. Leverage is the use of borrowed money to invest in assets that have the potential to generate higher returns than the cost of borrowing. On the other hand, deleveraging reduces debt to decrease the risk of default and improve financial stability.
The Importance of Deleveraging in Your 50s cannot be overstated. It is a critical time in an individual's life when they prepare for retirement and need to ensure enough savings to last them a lifetime. By reducing debt and increasing savings, 50-somethings can secure their financial future and enjoy a stress-free retirement.

Key Takeaways

• Deleveraging reduces debt to improve financial stability and reduce the risk of defaulting on loans.
• Understanding the difference between leverage and deleverage is crucial for successfully implementing this financial tool.
• Deleveraging is particularly important for 50-somethings preparing for retirement and needing to secure their financial future.

Understanding Deleveraging/Debt

Debt is a problem because it deflates our confidence. It diverts us from our real wealth goals because we're constantly attending to our debt problems. It takes away from our future savings. And it just plain costs us time and money. If this is a problem that you're facing, you're not alone. Look at this; the United States has a record debt load of 31 trillion. But that's not just the United States; it's a global problem; the global debt crisis is up to 300 trillion, and we can hardly even get our minds around that. Let's bring it home. The United States households reached 17 trillion this year, 2023. They say the average debt per household is about $95,000. Now, some of you may have less than that. But I'm here to help you understand this because many of you have more than that.

Deleveraging can be accomplished in a number of ways, including:
Paying off debt: This involves making extra payments towards outstanding debts, such as credit card balances, loans, and mortgages. By paying off debts faster, individuals can reduce the interest they pay overtime and improve their credit scores.

Read more: https://lynnekitchen.com/whats-debt-got-to-do-with-it/

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Personalized Q&A, plus what you learn here helps you make smarter money decisions for a LIFETIME.

Newsflash headlines in the media, women have significantly less saved in their 401 K's than men, and what to do about it?  Well, are you surprised?  Of course not.  We know there's a gender gap when it comes to money.  We know because we've been experiencing it.   But the real question is, what can we do about it?  And the answer is plenty,

I'm a money mentor and an investment consultant passionate about helping women and couples achieve their dreams of financial security and wealth to have the best life possible.    But many women and couples have challenges.  They're overwhelmed, or at least they tell me they are overwhelmed by markets; they feel inadequate.  They experience so much money anxiety; they even have arguments over money.  And ultimately, that doom and gloom feeling that it's just too big and maybe even too late.  Well, if you think that way, you are in the right place because that's why I teach financial workshops, and money mentoring programs, bringing my expertise from being a professional money manager for over 34 years, owning and operating not one but two investment advisory firms.  Along the way, I have helped countless individuals, couples and families transform their lives by creating lasting real wealth.  And everyone has the power to do this when they know how. 

It's no big surprise to anyone that there is a wealth gap between men and women.  It showed up in a recent study published by Bank of America with jarring headlines.  Women have significantly saved less in their 401 Ks than men, and what to do about it?  Well, of course, that's no big surprise.   What is a surprise is just how much less.   The study shows that women have saved 50% Less.  That's one-half the amount that men have saved.    That's big enough to put us on notice, ladies, that we may need to start socking away additional money to prepare for retirement.  This Bank of America study was released called the 2023 financial life benefits Impact Report.   Bank of America reviewed its retirement plan accounts nationwide.  They serve more than 25,000 companies and over 6 million employees.  This is a broad-based study.

Read and Watch More in our Blog Post

I invite you to reserve your seat at my next free online money workshop.  It's coming to the end of July.  But you do need to register and save your seat now because there will only be room for a certain number of people.  It's free to you.  It's virtual; it's online; simply sign up, put your reservation in now.  Don't forget, you can invite your girlfriends and colleagues, send them the link, and invite them to attend with you because it's much more fun to do this with someone else.  
Zoom Link to sign up for Free Money Mastery Workshop: https://bit.ly/3PFLUV9

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Welcome to Money Talks. My name is Lynn Kitchen. And I’m a money mentor and an investment consultant passionate about helping women and couples achieve their dreams for financial security and wealth so they can live the best and happiest life.

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 I believe that inside, every woman is an ace money manager; you don’t realize it yet. You don’t believe in yourself yet. Many women feel overwhelmed when it comes to investments. They think it’s too hard. One of my clients said, “I’m drowning in data and information overload, and it makes me so scared, I can’t even move.” If you feel that way, you are in the right place because that’s why I am teaching financial workshops for money mentoring programs, bringing my expertise from being a professional money manager for over 34 years and managing not one but two investment advisory firms along the way. I’ve helped countless individuals, couples, and families transform their lives and create lasting legacies By strategically helping them invest correctly. And everyone has the power to do this when they know how.

Today, I’m asking this question, what’s your problem? What’s your problem? What’s the big problem that’s holding you back? Are you feeling dissatisfied with the way that your economic life is going? Well, if you are, you are not alone; I came across a very interesting recent Gallup poll that measures how satisfied or dissatisfied Americans are with how things are going in the United States. And it shows that the United States’ mood of Americans is quite glum. They say that only 18% are feeling satisfied. Well, that means that there is another 82% of us that are feeling totally unsatisfied.

Next question: what do you think is the most important problem facing this country today?

Here is a chart showing all the Most Important Problems as ranked by a Gallup Poll Survey in May 2023. The first one was chosen as the most important problem facing the United States today was the Government. The second one they claimed was the economy.

See Chart

The top two Important Problems were most interesting to me. Eight out of Ten people are dissatisfied with their life in the United States. And most of them are pointing to the government and the economy. You’re probably wondering and grappling with new things that bother you, like high-interest rates, higher inflation, and recession. It is enough to make people feel they have no control over the situation. But what if it’s a signal and a sign that you feel like you lack control of your own economy?

 Gallup poll has been doing surveys since 1979. As professional money managers, these Gallup polls are vital for us because we call them sentiment indicators, which is the sentiment of investors as a whole, and we do pay attention to these.

 Economic Ratings Steady at Lower Level Americans’ confidence in the U.S. economy also remains depressed, with Gallup’s Economic Confidence Index essentially unchanged at -43 in May after dropping in April.

See Chart and more...

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In this episode, Friday Live with Lynn Kitchen "Let's Talk Money" S2 Ep108

Is Real Estate a Good Investment For Women Over 50?

Real estate is a property that comprises land plus the buildings or other structures that rest on it. This can include homes, apartment buildings, commercial properties, and more.

The best investment properties tend to increase in value over time. However, real estate investments don’t always make a profit. It can be challenging and risky to invest in real estate.

Read more on buying a home, renting a home, Investing in Real Estate, and more... https://lynnekitchen.com/investing-in-real-estate-lynn-kitchen/

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Personalized Q&A, plus what you learn here helps you make smarter money decisions for a LIFETIME.

In this episode live with Lynn on Fridays "Let's Talk Money"

Money Worries: Do You Have Them?

I experienced firsthand how much women worry about money during my first career as a professional investment advisor. 

As part of my “getting to know you” questions, I would often ask new clients what their biggest money fear was.  It was always interesting to me that the most common response from women, even those with substantial wealth, was the fear that they would outlive their money.

Not having enough money to sustain a long lifespan was the #1 worry. 

Recently, I found a Gallup Survey from 2000 that corroborated this and I think it applies to 2023.  It validates the work I am doing at “Money Talks For Women” to support women to become more money savvy.

Women's Most Pressing Concerns

The survey asked American women the following question: "Thinking about your own life -- what is the biggest challenge you personally face in your daily life today?"**
The results show that women have a wide variety of issues that challenge them as they go about their daily lives, but that several -- particularly economic issues and family concerns -- dominate. Additionally, these concerns vary significantly, particularly by age and life situation. 

The Top Seven Concerns Are:

• Money: 26% of women are faced most directly by economic concerns today, including such things as the cost of living, meeting financial needs, and high taxes
• Family: 22% of women's most pressing concern is their family
• Health: 15% of women's most pressing daily concern is their health
• Time and Stress: 14% of women are most concerned about stress, managing their time, getting things done, and balancing their lives
• Job and Career: 8% of women are most concerned about their job and career
• Education: 7% of women are most concerned about education and schooling -- both for themselves and their children
• Equality and Equal Rights: 4% of women are most concerned about equality, equal opportunity and discrimination.

Perhaps not surprisingly, the family is of greatest concern to women with children, while stress and time management are most likely to be mentioned by women who work outside the home, whether or not they have children. 

Concerns over one's job and career are generally equally likely to be mentioned by working women whether or not they have children. Health concerns are most important to women who neither work nor have children, primarily because they tend to be older.

Chart: Most Pressing Personal Concern by Life Situation

More...

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Wealth management for women is essential now more than ever.
 
https://lynnekitchen.com/wealth-management-for-women/

A growing number of women want and need to take charge of their own finances. They want a successful financial journey for a lifetime of wealth, including saving for retirement, putting their family’s finances in order, or helping children manage their financial futures.

It is common for women to rely on advisors to help them navigate complex wealth issues, which are critical to ensuring their financial futures are well-protected and secure. Yet women need to understand more about finances so they can be less dependent on “experts” and more empowered to think critically.

Historically, there still exist many barriers for women to build and maintain real wealth. Pay differences, career breaks, and a need to work flexibly for childcare can all inhibit their ability to accumulate or preserve assets. Bias in the workplace and lack of advancement opportunities are impediments.

 Women also tend to have different needs and priorities when it comes to wealth management and require a different type of service than men. For instance, they often need to define specific objectives and then design an investment portfolio that helps them achieve those goals.

 The key to success is educating women about the importance of wealth management and investing so they can make informed decisions that align with their unique circumstances and needs. The best way to start is finding a Money Mentor who not only understands financial planning and wealth management but specifically as it applies to women.

 Investing is integral to building wealth, but it’s easy to get overwhelmed by all the available options. By defining your goals and creating a plan that supports them, you can gain the confidence to save and invest for the long term.

To do this, it’s important to have a purpose-driven advisory process that helps you clearly identify your objectives and create a portfolio designed for you.
 
This allows you to focus on what matters most to you while leaving your financial adviser with the tools they need to deliver advice that is appropriate for you.

What about Longevity?
When it comes to wealth management, longevity is a key consideration. Not only does longevity impact an individual’s current lifestyle, but it also affects how much they’ll be able to save in retirement. Women tend to have a longer life expectancy than men. It is vital that they can enjoy that long life with Financial Freedom.

More... https://lynnekitchen.com/wealth-management-for-women/

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How Do Women Define Financial Freedom?
https://lynnekitchen.com/how-do-women...

The word financial freedom is often used to describe having enough money in the bank to live a lifestyle you desire. For some, that may include a house, vacations and retirement savings. For others, it may be the ability to work when and how you want.

Financial independence is the ability to support oneself without relying on others. The idea of being financially independent can be intimidating for some, but it’s a crucial step for everyone to take.

Women define financial freedom differently, but they all have the same goal in mind: to have the money they need to live the life they want, ideally on their own terms. It’s all about knowing what you own and owing, living below your means, saving and investing and planning for your future goals.

For many, this might mean buying their dream home, sending their children to college or traveling the world. It might also mean paying off debt, saving for retirement and establishing contingency funds in case of emergencies.

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Watch now and enjoy this episode of Lynn’s live weekly podcast “Let’s Talk Money” learn, laugh, ask questions, find out about financial clinics, and more

In this Episode, Lynn Highlights What the Best Income Generating Investments are.

Details: https://lynnekitchen.com/friday-live-with-lynn-kitchen-lets-talk-money-season-2-episode-104/

She covers so much, you really want to watch or listen to this episode.

Whether you are planning on building a retirement income or simply looking to supplement your income, you may want to consider investing in one of the following income-generating investments. These investments are proven to generate significant returns.

Dividend stocks

Investing in dividend stocks can be a good way to add extra income to your investment portfolio. They offer a great way to supplement income during recessions or during times of high inflation. It is important to consider companies with a track record of regular dividend hikes. 

The best dividend stocks are ones that have been increasing their dividends for decades.

Bonds

Historically, bonds have been a great way to earn income. They offer a reliable, steady income, and they can be a good hedge against volatility in the stock market.

Bonds can also have a risk of default. However, if you invest in high-quality bonds, the risk of default is lessened.

 Bonds are also an effective way to diversify your portfolio. They allow you to buy and sell bonds on a daily basis, and you can invest in additional bonds at any time. 

REITs

REITs are a great option if you’re interested in investing in real estate for passive income or want to diversify your portfolio. These types of investments are tax-advantaged and have above-average dividend yields. They are also relatively inexpensive to buy, making them a good choice for income investors.

Annuities

Despite all the buzz, annuities are not necessarily the best investment for every investor. Several factors will influence your decision. Your age, risk tolerance and personal investment goals will play a role.

 Annuities can provide an attractive addition to a balanced investment portfolio. They provide a guaranteed lifetime income, tax deferral and a death benefit. But there are trade-offs, as well.

link to the blog: https://lynnekitchen.com/10-best-investments/

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