Women on the Verge of a Financial Breakthrough

Emergency savings accounts are super important, right?

Sara agrees, but worries too many people over-emphasize their rainy day fund and under-emphasize their retirement savings.

She tells us how to hit the balance between the two, and warns that we might have to start investing before we're psychologically ready. It's scary!

Caitlin attempts a metaphor involving Wall Street "experts" and seating arrangements on a roller coaster, and asks Sara if maybe this investing thing is just too much for us to ask of ourselves.

Sara wonders why she has a co-host on an investing podcast that still hasn't gotten with the program.

This week, the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is figuring out how much she *really* needs in an emergency fund.

Ask us your dumb investing and finance questions on our website!

Transcripts for this episode on our website.

Music by Bad Bad Hats and Devmo.

WOTVFB listener Carin asks: What do I do with all of the retirement accounts I've accumulated from past jobs?

Sara tells us the one thing we have to do with those accounts (spoiler alert: it's not consolidating them!) and what part we don't have to freak out about.

Caitlin gets validation for her investing strategy of never checking on the market, and Sara wonders who the hell will ever listen to our podcast since our advice is so boring. Set it and really forget it??

This week, the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is taking a peak at just exactly what's inside of those forgotten retirement accounts.

Ask us your dumb investing and finance questions on our website!

Transcripts for this episode also available on our website

This episode was edited by Jes Rowe. Music by Bad Bad Hats and Devmo.

What's my number? How much money do I need to put into my retirement account between now and when I stop working?

Sara and Caitlin walk through an online retirement calculator to show how to figure that number out, without freaking out. You might need a chocolate milkshake for this one.

The good news is that we share the many factors that you can play with to get closer and closer to the amount you'll need to live on later on.

This week, the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is going online and trying out a retirement calculator. This is the Schwab one we use in this episode.

Ask us your dumb investing and finance questions on our website.

This episode was edited by Jes Rowe. Music by Bad Bad Hats and Devmo.

How do I actually "get into the market"? Sara tells us how to literally start investing by sharing the first three steps. They're so simple that ANYONE can do them.

She pleads with us to stop trying to make perfect decisions with all of the available knowledge - just freaking open an account and get started. Promise that you can refine and update your strategy as you go.

We also talk about the hazards of treating investing like a game and getting caught up in quick trades.

We're in it for the long haul, right? So let's set up a system that works for us, instead of working for a system that can very easily fail.

This week, the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is opening a freaking account by using the three simple steps.

Ask us your dumb investing and finance questions on our website. Transcripts for this episode also available.

This episode was edited by Jes Rowe and Kelly West. Music by Bad Bad Hats and Devmo.

When does it make sense for a "normal" person to check in with a financial advisor? Do you have to be a millionaire or can you be an aspiring thousandaire? And how do you know what questions to ask and if you'll be tricked into shady investments?

So many questions, and Sara has so many answers that lead to finding someone you can trust, even if it's just for one meeting to get on track.

Do you know that you can choose a financial advisor based on whether they have a sense of humor? Well, sort of. But you definitely have to like them.

And we learn that a custodian isn't just a school staff member.

This week the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is practice the two questions Sara says we need to ask our financial advisors.

Ask us your dumb investing and finance questions on our website: womenontheverge.com

Transcripts for this episode available on our website!

This episode was edited by Jes Rowe. Music by Bad Bad Hats and Devmo.

It's so tempting to keep our money in things we can touch like cash or gold - we can use them in an emergency so they're safer, right?

Sara says we need to think twice about what "safe" means and details the surprisingly complicated logistics of going all out for gold.

Caitlin has to interrupt recording to manage a rental and Sara points out that an investment account never calls you on a Saturday to complain about a leaky faucet.

We talk about how to make that leap of faith from investing in seemingly low risk but tangible things, to the much more abstract stock market, that can actually build our financial future.

This week the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future involves very simple steps to get a handle on your financial portrait.

Ask us your dumb investing and finance questions on our website: womenontheverge.com

This episode was edited by Jes Rowe. Music by Bad Bad Hats and Devmo.

We're circling back to the basics: stocks, bonds, index funds and tuxedos. Watch out for a lot of grocery shopping metaphors because it turns out the stock market is an *actual* market with shares on the shelves instead of cereal boxes.

We talk about the secret to not having to learn anything about individual stocks but still invest and how Monopoly isn't the *worst* way to learn a thing or two about bonds.

Oh! And Sara explains the moneyed depths of the ultra secret bond market (who knew??).

This week the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future involves looking in your money mirror and taking notes on what you see.

Ask us your dumb investing and finance questions on our website: womenontheverge.com

This episode was edited by Jes Rowe. Music by Bad Bad Hats and Devmo.

This investing for beginners party is more interesting than you thought, right? Well, just wait til Sara hits you with advice normal people can use from fancy-pants investing guy Warren Buffett.

Also, Caitlin asks who the hell he is and why he's so famous anyway.

And it wouldn't be a Women on the Verge of a Financial Breakthrough party if we didn't circle back to shame, regret and embarrassment about our (Caitlin's) financial past!

But if all of that doesn't entice you, there's a surprise ETHICAL NON-MONOGAMY plot twist in there when you least expect it! See? Finance is fun!

This week the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is super easy and will make you feel very smart.

Ask us your dumb investing and finance questions on our website: womenontheverge.com

This episode was edited by Kim Shelton and Jes Rowe. Music by Bad Bad Hats and Devmo.

The "Let's learn about finance and investing!" party is still going over here at Women on the Verge of a Financial Breakthrough!

This time, Caitlin and Sara talk about what the hell people are talking about when they tell us to "save" money, how starting small is totally awesome, as long as you're starting at all. Also, Sara gets out her (imaginary) megaphone to tell Women on the Verge that COMPOUNDING INTEREST is the MOST IMPORTANT concept you need to understand about building your financial future. You're welcome.

Don't forget - at the end they share the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future. Ask us your dumb investing and finance questions on our website: womenontheverge.com

This episode was edited by Kim Shelton and Kelly West. 

Music by Bad Bad Hats and Devmo.

Talking about money can be awkward, fill us with shame, regret and even panic.

So why do it?

In this episode Sara and Caitlin talk about what it means to leave that baggage behind and focus on the future, no matter where you're at now. Also, Caitlin reveals the depths of her investing ignorance and Sara explains some basic terms and tells us how to survive a stock market storm at sea. (A metaphor that makes sense when you hear it. Maybe.) And again, get ready for the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future. Ask us your dumb investing and finance questions on our website:  womenontheverge.com

This episode was edited by Kim Shelton and Kelly West. Music by Bad Bad Hats and Devmo.