The Gerri Willis Podcast

Not all banks are created equal. If you’ve shopped banks at all to find the best deals, you know the offerings can be very different depending on where you go. Fortunately, the personal finance magazine, Kiplinger’s, has taken a deep dive into the nation’s banks to determine which institutions make sense for you. Miriam Cross, staff writer for the magazine, helped comb through the data and research to decide which banks are the best fit for different categories of consumers, from retirees to millennials.Here are the takeaways

1)    If you’re a millennial, Kiplinger’s chose Ally Bank for the second year in a row as the best option, because it requires no minimum deposit to open an account and no maintenance fees. It’s rates on even low balances are attractive compared to competitors.

2)    For small business owners who need convenience and easy access to nearby branches, Kiplinger’s recommends TDBank. For those whose personal and business account balances total at least $1,500, monthly fees of $25 are waived for their Business Convenience Checking Plus accounts. Plus, they get a combined 500 free checks or electronic transactions deposited and paid per month.

3)    High net worth families demand a lot from their bank and Kiplinger’s says Citibank delivers. Minimum account balance requirements are $200,000, but customers that do that get unlimited reimbursement of out of network fees, free standard checks, incoming wire transfers and money orders. International travelers with the Citigold account will appreciate the free next-day delivery of foreign currencies to your home.

4)    USBank is Kiplingers’ choice for retirees, delivering no monthly fee for premium checking for their customers 65 and older, free paper statements and copies of checks, and no charges for the use of out of network ATMs.

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 enjoy this podcast, leave a review!

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Greetings Rich is NOT a Four Letter Word podcast fans! This week, we’re doing things a little bit differently. If you follow me on Facebook or twitter, you know that I haven’t been shy about sharing the story of my struggle with breast cancer. Two years ago, I was shocked when I was diagnosed with stage three Lobular cancer. For the nine months that followed battling that disease would be my life’s focus.

I’ve heard from many of you who have friends or family in treatment and from many who have beat the disease – I dedicate this podcast to YOU. You can’t have any idea how much your support through those nine months meant to me. Just hearing about other people’s success stories inspired me to fight on. And, ultimately, I began to learn so much more about myself and others. Cancer taught me to be more open, to appreciate all that I have. Life’s gifts come in surprising packages and cancer, for me, was one.

This month, the people at Komen Greater New York gave me their Impact Award at a luncheon in New York – a gift that bowled me over. The Susan G. Komen Foudnation has raised a total of three billion dollars to find a cure for breast cancer and to help women to get diagnosed and fight the disease.

In this podcast, I’m sharing the speech I delivered. First you’ll hear me thank Fox for standing by me during my treatment and recovery. And, then I tell my story of battling the disease. Listen.

I always want to hear from you. Share your stories and give me your thoughts. Follow me on twitter @gerriwillisfbn and on facebook, where my handle is gerriwillifbn.

If you have an idea for the regular money-focused podcast, then tell me. We will get it on! Have a great day and remember, Rich is NOT a Four Letter Word!

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Fox and Friend’s Ainsley Earhardt is not just a talented journalist; she’s also not afraid to talk about her faith in public. In her new book, “The Light Within Me,” Ainsley details her journey as a Christian and how faith plays a significant role in her life on air and off. The story starts in South Carolina where she grew up and documents how her successes have been shaped by family and faith. Ainsley shared with me her attitudes about that faith, but also about money, debt and financial success. For me, it was Ainsley’s grace and persistence that most stood out as she sought to climb the television career ladder while maintaining her personal integrity.Here are the takeaways

Ainsley describes the very moment that she decided she would become a more devout Christian. As she says, “I met Jesus at a fraternity party.” While she doesn’t want to force her religion on listeners, she says, she does want to share the story of her own journey.

Growing up in South Carolina, Ainsley’s best example on how to manage her life and her money came from her father, who taught her by example by making double payments on the mortgage, paying cash for cars and by rarely using his credit card.

Keeping debt at bay proved difficult when she came to New York to work for Fox. Facing higher living costs and legal fees from a divorce, Ainsley’s debts mounted. Her credit card bill totaled $20,000. By following a strict plan to pay down that debt, she got rid of that burden in just three years.

Now, Ainsley is pondering how to raise a money-responsible child. Her daughter, Hayden, she says, will be discouraged from stressing about money, but will have a choice: enroll in sports or get a job.

Follow me on twitter @gerriwillisfbn and on Facebook, where my handle is 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 enjoy this podcast, leave a review!

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Military families face an enormous number of challenges when it comes to their finances. And, few decisions will be as important as whether they opt for a new retirement plan that is equal parts pension and matching contributions or stick with the old-fashioned pension arrangement. The option is offered to those who joined the military from 2006 to late 2017. My guest Kim Lankford isn’t just a columnist for Kiplinger, she’s also a military spouse who has first-hand experience as dealing with military financial issues.

Here are the takeaways:

1.)    If you are a member of this special group who joined the military from 2006 to late 2017, Kim says the best way to decide which option to pick is to consider how long you plan to stay in the military. If you are staying less than 20 years, you’d be well served to opt for the blended plan. Otherwise, you may find yourself walking away from service with no retirement benefits.

2.)    Don’t miss out on the freebies. Take advantage of the Thrift Savings Plan, a low-cost retirement savings option that is similar to a 401(k). Low-cost life insurance is also available for military members. Kim says her family plans to take advantage of a program that allows the transfer GI Bill benefits to a family member, a spouse or a child.

3.)    Avoid the scams! Watch out for people who prey on our military because of they have a regular income and few contacts in local communities. Kim suggests checking lists of problem companies at base offices to make sure you don’t do business with an organization that has a record of troubles with our military men and women.

Take a listen to the podcast and for more information, check out Kim’s new publication, Kiplinger’s Financial Field Manual: A Personal Finance Guide for Miltary Families. The guide is chockablock full of relevant and detailed information and FREE! Yes, I said, free! Here’s the link.

Follow me on twitter @gerriwillisfbn and on Facebook, where my handle is 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 enjoy this podcast, leave a review!

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Now that the Great Recession is in our rearview mirror, financial stability for the nation’s households is improving, right? Nope, in fact, it’s going the other way. Household debt is growing at its fastest clip in 11 years. We are awash in debt, again.

Dave Ramsey, personal money management expert, author of the best selling book “The Total Money Makeover” and popular national radio personality, has some advice on that topic. Having built a $4 million real estate portfolio by age 26 only to lose it four years later and file for bankruptcy, Ramsay has made it his mission to help people get out of debt and on sound financial footing. In this podcast, Ramsey describes the mindset it takes to overcome personal debt and shows you how to conquer the toughest financial hurdles families face. His words are not just illuminating, but inspiring. I listened to this podcast twice just to make sure I took it all in!

Here are the takeaways:

1.) Coming back from high levels of debt, what Ramsey calls a “Depression-era moment,” is possible. He says the trick is to learn your lesson and change your behavior. “Debt doesn’t take you anywhere, it exposes your stupidity,” he says.

2.) Cutting debt gives you the personal freedom to live a life that is more principle driven and less tactically driven. And, even what may seem like small financial decisions can have big impacts on your bottom line. As an example, he says the average American makes a $504 monthly car payment. Were that money to be invested instead in a growth mutual fund for 40 years, those car payments would amount to $5.8 million at retirement.

3.) Parents don’t have to choose between their retirement and funding their child’s education if they choose to keep debt at bay. However, if they are forced to pick one thing to fund, Ramsey says choose your retirement. “Fifty-two percent of kids will graduate from college, but 100 percent of us will retire,” he says.

4.) Buying your own home is a good investment. Fully a third of a typical millionaire’s net worth is their house, and if you retire with your home paid off, you’ve stabilized your biggest monthly cost.

There are many more takeaways in this important podcast and even more inspiration from Dave. Take a listen!

Follow me on twitter @gerriwillisfbn and on Facebook, where my handle is @GerriWillisFBN.

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 enjoy this podcast, leave a review on Apple Podcasts!

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Are you ready for retirement? Chris Hogan, author of the best-selling book “Retire Inspired,” and a member of the Ramsey Solutions team is passionate about inspiring people to achieve their best retirement. The challenges are huge. According to a recent survey by GoBankingRates, fully a third of Americans have no savings for retirement at all and 23 percent have saved less than 10 percent. Hogan says if you haven’t gotten started, it’s time to get serious about retirement. The good news? Hogan says it’s never too late to get started.

Here are the takeaways:

#1) First things first, you can’t count on Social Security. According to Hogan, “Government’s not going to save the day, we have to pave the way.” In other words, start thinking about how you can be more self-sufficient in retirement just in case our elected officials in Washington decide to change Social Security funding or taxes related to retirement savings.

#2) If the idea of making investment choices on your own sends a chill up your spine, no problem. Just as you wouldn’t operate on yourself, so you should think about hiring a pro to manage your retirement money, he says. As a general rule of thumb, he suggests that investment fees should be less than one percent.

#3) Wondering what your target should be? How much to save? Hogan suggests checking out his retirement calculator at his website, www.chrishogan360.com.

Looking for some fresh inspiration to getting to your retirement goals? Chris Hogan’s got your back.  Take a listen!

Follow me on twitter @gerriwillisfbn and on Facebook, where my handle is 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 enjoy this podcast, leave a review!

 

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This is a special breaking news edition of my podcast. The topic: Facebook. This week the company's CEO Mark Zuckerberg apologized for allowing the personal information of 50 million Facebook users to get into the hands of political consultancy, Cambridge Analytica. To be sure, this isn't a breach like we've become accustomed to hearing about from so many American companies. When companies like Equifax were breached every single FINANCIAL detail about your life was stolen. The personal data Facebook holds about you generally is more benign -- details of your active sessions, your friend network and check ins - things like that. Still, the #deletefacebook movement is gaining momentum, and consumers generally are deciding they want to be more careful about what they do and do not share publicly. Frankly, I can't blame you. So join me and my guest Pete Pachal, long-time tech expert and editor at Mashable, for a conversation about what you need to know about Facebook. Here are three takeaways from Pete and my own research into Facebook. No. 1: If you really are ready to pull the plug, understand that it's not so easy to erase your account at the social media giant. Facebook itself says it will take 90 days for them to delete your account, and even then some material will remain behind. If this is what you want to do, go to the delete account page here https://www.facebook.com/help/delete_account and follow the directions. Also, consider downloading your personal archive before you pull the plug. No. 2: Know the difference between deleting and deactivating your account. Delete means just that, but deactivating your account will simply put it on hiatus. You can come back in and reactivate your account anytime. No. 3: One action that makes sense for all Facebook users is reviewing the apps you've given access to on Facebook. You can do this in settings where you'll find information on what access is available to the app and what information they are getting about you. Keep in mind, you'll have to reach out to the app developers themselves to get rid of data they've collected in the past. If you've been on Facebook for awhile, you may be surprised to learn just how many apps you've enabled.

Watching the stock market and wondering if it's time for a plunge into the world of equities? Before you make the leap, you'll want to listen to Charles Payne, FBN's host of Making Money, and one of the most knowledgeable people I know about the stock market. Charles has committed himself to understanding the underlying trends that motivate professional investors and developed his own methodology for vetting stocks that he shares in this podcast. Want to know what sectors interest Charles? Or, how he analyzes the earnings potential for stocks? Or even what he's buying right now? Listen to this podcast! This is the primer you'll wish you had always had! Here are a handful of the many takeaways: Before you start looking at individual stocks, spend some time researching the macroeconomic environment. Where is money being made? What kinds of products are getting traction? Charles likes the goods-producing sector. Companies he talks about in this podcast include Caterpillar, Boeing, but also retailers like Costco, T.J.Maxx and, of course, Amazon. The key, he says, is finding companies with the ability to raise prices for their goods, a factor that commands investor loyalty. Finally, the best stock ideas might be right in front of you, according to Charles, who bought Burlington Stores after his mom introduced him to the store. "It's a stock I loved, because my mom took me there," he says. You'll learn a lot by tuning into this one! Enjoy my conversation with Charles Payne! Follow me on twitter @gerriwillisfbn and on Facebook, where my handle is 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 enjoy this podcast, please leave a review!

Getting the best college education for the price for your son or daughter is no easy prospect. With private tuition averaging $33,480 annually and state schools topping out at $9,600 a year, it makes sense to think carefully about what you are buying and how much you will pay for it. For some, it means considering whether a four-year college degree makes sense, for others the question is where they go to get that degree. Two people helped me with this podcast, the super smart Rob Franek, Princeton Review editor in chief, and Ethan Klein, who recently graduated from high school and recently had to make all these tough decisions. Getting value for money when it comes to paying for college is possible, but it takes some work. Fortunately, Rob and Ethan can help. Take a listen! Here are the takeaways: #1) It's never too early to start readying your soon-to-be college frosh for finding the school that is the right fit in terms of career services, financially and even personally. Most prospects will apply to seven to nine schools. #2) As a rule of thumb, you'll want to make sure that the amount of debt that your son or daughter graduates with is no more than a full year's starting salary in their chosen vocation. You'll want to run these numbers before they enroll in college. #3) Think of published tuition prices as the starting point in a negotiation. Only a third of students pay full tuition costs.   Follow me on twitter @gerriwillisfbn and on facebook, where my handle is 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 enjoy this podcast, leave a review!

Want to compare healthcare prices and shop around for the best deal? Dr. Jeff Rice, the founder of HealthcareBluebook.com, has your back. His website helps you find identify a fair price for procedures, tests and routine care in your area. He started the service after pricing a foot surgery for his own son. He was quoted a price of $37,000 by one institution and $1,500 by another. Infuriated, he set about demystifying a system in which prices routinely range tenfold for the same level of care and quality. Listen on Apple Podcasts Here are the takeaways: #1) As many as two-thirds of patients aren't given a fair price on care, but unfortunately they never know they are overpriced because they never shop around. #2) It's critical if you are going to protest a price or negotiate for a lower one, that you approach the hospital or provider before your care is given. It's possible to have that negotiation later, but more difficult, he says. #3) Go to the hospital or care provider's finance department to negotiate. Most hospitals have a system in place to explain bills and negotiate discounts. Dr. Jeff will give you the confidence you need to hold healthcare providers feet to the fire when it comes to prices. Follow me on twitter @gerriwillisfbn and on facebook, where my handle is 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 enjoy this podcast, leave a review!