The Gerri Willis Podcast

Hello, I'm Gerri Willis and welcome to Rich Is Not A Four Letter Word, the podcast for your wallet. One word to focus on today - volatility. That's what the stock market has been all about and what traders down on Wall Street are talking about. I spoke to one of them on the floor of the New York Stock Exchange, Stephen Guilfoyle, also known as Sarge, about what to make of the extreme ups and downs plaguing the market now. Here's what he told me. Here are the takeaways: When the volatility becomes extreme - take a breath and step back. The truth is, this volatility is making traders with lots of experience nervous. The market these days moves more quickly and in larger waves than ever before largely because of computerized trading and algorithmic trading. Also, we are at higher levels in the market - so a 100 point swing isn't as big a deal as it used to be. Algorithmic trading is not your friend. Guilfoyle says that this type of trading, automated and pre-programmed, aims to make money by anticipating what small investors will do. If the large moves both up and down have you unnerved, he suggests looking at dividend paying stocks because even if your stock plummets, you'll still get a quarterly payment, a distribution that can make the pain of a lower stock price a little less hurtful. Guilfoyle says don't bet against tech yet. He says that sectors like semiconductors and cloud computing will continue to grow. Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis. Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

October is Breast Cancer Awareness Month. Fox Business Network’s Gerri Willis joined “The Story with Martha MacCallum” last night and opened up about her battle with lobular breast cancer, a type of cancer that represents just 10 to 15 percent of breast cancer cases. After being diagnosed in April 2016, Gerri underwent a mastectomy and chemotherapy treatments, but it took her a little while to fully come to terms with her diagnosis. Now, cancer-free, Gerri shares how she is happier than ever. Listen to more about Gerri’s inspiring journey below:

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Hi, I’m Gerri Willis from the Fox Business Network and host of the podcast, Rich Is Not a Four-Letter Word. Today, we’re talking to Jonathan Stein, the founder and CEO of Betterment, an online service that automates investing. Some folks call Jonathan’s business a robo-advisor. But as you are about to find out, his business does much more than that.Here are the takeaways:

Betterment automates investing using an online interface that allows investors to make their own choices. This new age brokerage has no account minimums and charges a quarter of a basis point in fees. In other words, if you kept $100 at Betterment, you’d be charged a quarter for the privilege.

These days, though, Betterment is doing more than just offering low costs, providing users with financial advice developed for their specific situation from certified financial planners.

The key to Betterment’s business model is that it removes the conflict that was at the heart of many of the brokers’ businesses. Advisors were paid commissions for selling product, setting up a situation where commissions could drive advice. Stein says he has solved that problem by putting advisors on salary, freeing them up to recommend whatever makes sense to customers.

Stein says that too many Americans are still shy of investing in the wake of the financial crisis ten years ago. In a survey conducted by betterment, two-thirds of folks said they were investing less now than before the crash. In the interim, stocks have embarked on the longest-running bull market in history and those that stayed home, well, they’ve missed out.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

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Millennials coming to the rescue of the great institution of marriage — thanks to younger couples getting married later, say experts — the nation’s divorce rate is on the decline, dropping by 18 percent between 2008 and 2016.

The researcher Philip Cohen says millennial marriages are more stable because their lives are in greater order when they tie the knot.

“We see people getting married at older ages, people getting married with college degrees already. They are less likely to be already divorced or have children when they get married, both of which are risk factors for divorce.”Here are the takeaways:

The University of Maryland study shows that a 35-year-old millennial today is more likely to hit his or her fifth wedding anniversary than a 35-year-old gen x-er was in 2008.

The researcher Philip Cohen says millennial marriages are more stable because their lives are in greater order when they tie the knot.

“We see people getting married at older ages, people getting married with college degrees already. They are less likely to be already divorced or have children when they get married, both of which are risk factors for divorce.”

The divorce rate could decline even more in future years as marriages become more selective, rarer and more stable. Recent divorce rate increases have been fueled by the “gray divorce boom” among baby boom

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

If you enjoyed this podcast, leave a review!

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She’s the host of “The Daily Briefing” with Dana Perino, a co-host of “The Five” and mom of Jasper – Dana Perino – is an inspiration to many Americans because of her hard work and smarts. And, yet, as a former White House press secretary – she famously worked for George W. Bush – she’s not someone you think of as being interested in money. That’s all wrong. Dana has thought a lot about money and faced her own financial anxieties.Here are the takeaways:

One of Dana’s earliest money memories is associated with her mom, a frugal woman, who bought a large “D” applique to sew on young Dana’s pants pocket so the grade-schooler could have a pair of “designer jeans.” Her parents both schooled Dana in keeping her spending under control. And, she saw women in her own family wrestle with financial issues. When her grandfather died, leaving behind her grandmother to cope alone, she didn’t even know how to write a check.

By the time Dana was a young adult, her anxiety was such that she would stay three car payments ahead – just in case. That attitude would cause friction with her husband, Peter, who would time payments for the last possible minute before the deadline.

The early years in Dana’s marriage weren’t easy financially. They moved to the West Coast with nothing but a dog. She remembers consulting her husband about whether they could afford a dinner out.

These days, Dana allows her husband to handle money matters, turning over the checkbook to Peter. That, she says, allows her to focus on her job and hectic schedule. It’s an arrangement that seems to work well for both of them. But even today, Dana still talks about her concern about financial anxiety – especially among recent college grads and young families.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

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Women face unique financial challenges that men will likely never encounter. Consider that at retirement women have a third less in retirement savings than their male counterparts. That’s typically because women earn less and work less over their lifetime compared to men. In the 20th edition of “Smart Women Finish Rich,” author and Co-Founder of AE Wealth Management, David Bach sounds the alarm for women to alert them to this issue and incentivize them to make changes.Here are the takeaways:

80 percent of men die married; 80 percent of women die widowed. The average age that women are widowed is 59. That means women need to be better prepared financially for life on their own in old age.

First steps first, couples need to share their financial information. Men need to let them know about any and all 401(k) plans, insurance policies, bank accounts. That information will be critical for women who may be on their own for the first time in their lives.

Now’s the time to be conservative. Stocks (if you reinvest dividends) are up 400 percent since the end of the financial crisis in 2009.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

If you enjoyed this podcast, leave a review!

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Sunday, Sept. 9, 2018, is Komen NYC’s 28th Run for the Cure! This year Fox News and Fox Business Networks will field their biggest team ever to run/walk the race and bring awareness to the issue of breast cancer. One in eight women in this country will be diagnosed with breast cancer in their lifetime. Two years ago, it was my turn. I was diagnosed with stage three lobular breast cancer. Fortunately, I had incredible caregivers and support from my families at home and at Fox. Not everyone does. Komen is there to fill the gap.

Join us if you are in New York at the race Sunday.

You can register as late as race day. If you aren’t in the area and want to participate, contribute at www.komennyc.org/fox.Together let’s make Komen’s objective a reality: No one should die of breast cancer.

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Last month the bull market officially became the oldest ever as it surpassed 3,453 days. But it raises the question, are you too late to the party to invest now? Are stocks too expensive? And of course, where should you put your money now? Those are some of the questions I put to Jack Otter, Associate Publisher of Barron’s and a long-time personal finance expert.Here are the takeaways:

Yes, the market is up 320 percent from its lows, and that’s a concern for Otter, who reminds small investors that the market can stay irrational longer than the individual can stay solvent.

What do you do if you’re worried that a sell-off is imminent? He says a well-balanced, diversified portfolio is the best defense. That means an allocation of assets appropriate for your age. In other words, the closer you are to retirement, the more your portfolio should be away from high octane investments like technology and other growth stocks.

Like a lot of avid market watchers, Otter believes that it’s time to consider moving beyond the so-called fang stocks, big cap, high growth companies like Facebook and Netflix. Although, he says, a handful of these still have room to run because they aren’t that expensive compared to their earnings streams.

Finally, Otter recommends two sectors for consideration – healthcare and commodities – as good options for investors worried about the inevitable fall market choppiness.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

If you enjoyed this podcast, leave a review!

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If you are looking for a job with high pay, Glassdoor has your number. The employment website Glassdoor ranked job titles by average base salary. For a job to be considered it had to receive at least 100 salary reports. The company used a statistical algorithm to standardize base pay numbers, controlling for factors like location and seniority.Here are the takeaways:

It’s all about healthcare and especially technology. Out of the top 25 jobs listed 13 were in technology, two more than last year.

To be sure, some of these jobs require years of training, but many of these career paths are set to reward workers for years to come.

Weigh the pay against the costs of education to be in that field. Physicians may earn a median salary of $195,000, but they typically are in school for eight years, internships add to the length of that education experience. Pharmacists and pharmacy managers earn top pay and their educational requirements are far less.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

If you enjoyed this podcast, leave a review!

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With growth spiking above four percent for the second quarter, it’s hard to argue that the economy is on fire and it’s a great time to be looking for a job or starting a new business. But there are dangers even in this upbeat economy. In fact, a recent Federal Reserve report shows consumer debt will hit $4 trillion by the end of the year and that 26 percent of Americans owe more than a quarter of their income to this debt. So, I spoke with Greg McBride, chief financial analyst with Bankrate.com, about what consumers should be watching out for and what they should be doing now to boost their bottom line.Here are the takeaways

1)   Wages may finally be moving higher but they are not keeping up with inflation. No doubt about it, even if you’ve seen an improvement in your pay, you may still feel like you’re making no headway against higher prices for everything from housing to groceries.

2)   Moreover, higher interest rates on variable loans, even credit cards, are “water torture” for consumers and McBride says consumers can expect rates to continue rising as the Federal Reserve boosts rates this fall.

3)   McBride sounds a warning on taking out long-term auto loans. He says that loans for cars and trucks that stretch seven and even eight years can lead to financial troubles as the value of that asset depreciates more quickly than consumers pay down the loan.

4)   With rates rising as the economy expands, McBride recommends “making hay while the sun shines” by paying off variable rate debt and expanding emergency and retirement savings.

Take a listen to the podcast! Follow me on Twitter @gerriwillisFBN and on Facebook, where my handle is GerriWillis. You can also find me on Instagram at Gerri_Willis.

Bottom line, I want to hear from you! What money issues do you want to explore? Tell me and we will get it on the podcast. Have a great day and remember, Rich is NOT a Four-Letter Word!

If you enjoyed this podcast, leave a review!

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