The Money School

As you know Money Rehab is a no-jargon zone. But the fact is, some financial jargon makes bad money moves sound like good ones (overdraft protection, anyone)? Today, Nicole demystifies these terms with Joe Saul-Sehy, host of The Stacking Benjamins Show.

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Ugh. You’re in a work lull. A rut. And you think the best way to get out of said rut is to go back to school. Sounds familiar, right? Want a financial expert’s opinion? Nicole’s got you covered!

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Forget the old, tired back to school shopping hacks you hear every year— today, Nicole is sharing five tips that will change the way you shop this season.

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Today, Nicole debunks the most viral myths about inheritance and gift taxes, and walks you through exactly how these taxes work, when they actually kick in, and the totally legal strategies wealthy families use to pass on as much as possible to their heirs.

Nicole breaks down the difference between gift tax, estate tax, and inheritance tax; explains the $19,000 annual gift exclusion and the $15 million lifetime exemption; and covers the states that will still come after you even when the IRS won't. Then she gets into the tools the ultra-wealthy use, like irrevocable trusts and Family Limited Partnerships, to legally minimize what they owe. Plus, she shares one simple, free move that anyone can make right now to protect their family's inheritance… no lawyer required.

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With the rise and legalization of sports betting platforms, gambling has never been easier— and compulsive gambling has never had a lower barrier to entry. Today, Nicole talks to a Money Rehabber who has had many highs and devastating lows over a decades-long career of gambling. Today, he shares how he’s building a healthier relationship with money, and they make a financial plan that helps him pave the way for a better financial future.

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A recent study done by Credit Karma found that nearly one-third of Americans grapple with money dysmorphia— a state of distorted perception of one's financial health, caused by the relentless comparison with depictions of wealth online. Today, Nicole unpacks the biggest source of this condition and how we can cure it ourselves.

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If you leave a job, you're probably focused on your next move, not tracking down that old 401(k). But those old 401(k)s are your money. And if you don’t find them, manage them, or move them where they can grow smarter and harder for you, you’re leaving cash on the table.

Today, Nicole walks you through exactly how to track down a lost 401(k) and roll it over into a new retirement account — with all the details, step-by-step, so you don’t make expensive mistakes.

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Today, Nicole unpacks the exact accounts she opened for her daughter, the math that makes starting early almost unfair, and the money script she's determined to rewrite for the next generation. Whether you have a newborn, a teenager, or you're realizing you wish someone had done this for you, this episode is a blueprint.

Nicole breaks down how a 529 plan is far more flexible than most parents realize, why a custodial brokerage account is less about returns and more about teaching kids that money grows quietly in the background, and why a retirement account for a one-year-old is not as insane as it sounds — it's one of the most powerful financial moves a parent can make. 

Check out Nicole's financial literacy course⁠ The Money School⁠

Find a⁠ Financial Advisor or Financial Coach⁠ from Nicole's company Private Wealth Collective

Watch video clips from the pod on⁠ Money Rehab's Instagram⁠ and⁠ Nicole Lapin's Instagram⁠

Here's what Nicole covers today:

00:00 Are You Ready for Some Money Rehab?

01:13 529 Plans: More Flexible Than You Think

02:02 The Math on Starting Early vs. Waiting

02:51 Super Funding: The IRS Loophole Most Parents Miss

03:31 Lump Sum vs. Monthly: The Numbers That Will Shock You

04:00 How to Shop for the Best 529 Plan

04:17 Custodial Brokerage Accounts Explained

05:00 The Financial Aid Trade-Off

05:41 Why Nicole Really Opened This Account for Her Daughter

05:56 The Custodial Roth IRA (Yes, for a 1-Year-Old)

07:00 The Number That Changes Everything

08:00 Roth IRAs and Financial Aid: The Cleaner Vehicle

08:21 Rewriting the Money Script

09:00 Tip You Can Take Straight to the Bank

All investing involves risk, including loss of principal. This episode is for informational purposes only and does not constitute financial, investment, or legal advice. Always consult a licensed professional before making financial decisions.

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Interest rates and home prices are high— that's old news. But there's a new factor that's making real estate more expensive... and there's nothing the Fed can do to stop it. Today, Nicole explains the new variable driving up the cost of homeownership, and what you can do to make it more affordable.

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There's a chance that inflation may rise at the top of next year. To prep, Nicole shares four inflation-proof investments to help your portfolio.

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