Money Talks News: The Podcast

Today’s podcast is a replay of a popular show we did a few months back. So if you didn’t hear it the first time, or want to hear it again, now’s your chance. Thanks for listening to Money Talks News…the podcast! Let's start with a question: Do you have enough in your retirement account? According to a recent report from Vanguard , the average American has around $140,000 saved for retirement. For...

This has been a very odd year. Lots of pundits were predicting a bad stock market for the first part of this year as inflation and high interest rates pushed the economy into a recession. Nope. At the end of July, the S&P 500 was up nearly 20%, and the tech-heavy NASDAQ was up 30%. Another thing the pundits advised: The Fed would stop raising interest rates by mid-year. Some "experts" even tho...

If you're an avid investor…or even if you're not…at one time or another you've probably considered investing in individual stocks. I've been doing it for 40 years, and over that time have made well over a million dollars investing in the stocks of individual companies. But stock picking isn't for everyone, and it comes with risks. Even the best stock pickers periodically lose money. The trick is t...

Did you know that most wealthy people don't drive luxury cars ? It's not all Lamborghinis and Bentleys. For many, the most likely cars are Toyotas, Hondas and Fords. You might be surprised at other millionaire habits more frugal than you'd expect. In this podcast, we're going to talk about the habits of millionaires, because understanding what millionaires do can help you follow in their footsteps...

Are you familiar with Roth IRAs? If you're not, you should be, because Roth IRAs are a great way to get tax-free income after you retire. There is a potential fly in the ointment, however. Namely, not everyone qualifies for a Roth. If you make too much money, Uncle Sam says you can't use em. But there's a way around that rule: Fund a regular retirement account, then roll it over to a Roth. It's ca...

In this episode, we're talking about protecting your kid's identity and building their credit. You might be surprised to learn that  1 in 50 children is affected by child identity fraud , costing consumers nearly $1 billion per year. So, how do you make sure your child isn't the one whose identity is stolen? Glad you asked, because that's the question we're going to answer today. Host  Stacy Johns...

In this episode of the Money Talks News podcast, we're talking about how organizing your money can make you richer and how to get there with the least possible pain. This will probably come as no surprise, but according to a recent survey, only 23% of Americans have a formal financial plan . And you can probably guess why: 76 percent of those without a plan say they feel overwhelmed by the thought...

You probably have long-term money goals: You know, the money you're saving for something that's years, even decades away, like retirement savings. But you also want money for things that are just weeks or months away, like creating an emergency fund or saving for a vacation. The trick is finding the right balance, so you can hit both your short and long-term targets. And that's what we're going to...

In this episode we're talking about the dangers of debt in a rising rate environment, and how to deal with it. The Federal Reserve has now raised interest rates nine times in the last year. The idea of higher rates is to put the brakes on the economy in order to slow inflation. All good, until someone gets hurt. And who gets hurt by higher rates? Consumers who need to borrow, that's who. Higher ra...

In this episode, we're tackling a real-life retirement situation. Maybe you've experienced it yourself. You open your statement, and there it is: a shrinking balance. Maybe it's because the stock market has fallen. Or interest rates have risen, and your bond fund is losing ground. Either way, what happens when you feel like you're losing a huge chunk of your nest egg? What can you do? Just sit the...

In this episode, we're talking about the Midas metal. Gold has long been known as a store of value and a hedge against both inflation and global uncertainty. This is why it's also a part of many well-diversified savings strategies, including retirement accounts. Yes, you can actually hold gold in your IRA —as long as you follow the rules. But should you own gold at all? And if so, is it appropriat...

You probably remember the Bernie Madoff saga : His famous Ponzi scheme destroyed the life savings of hundreds of sophisticated investors and money managers. Billions vanished into thin air. So, how do smart people end up in these situations? More to the point, how can you avoid being the victim of a scam? There are red flags that you should recognize and today we're going to talk about them. As us...

There are almost 22 million people with a net worth of at least $1 million in the United States. That's a lot of millionaires! Many of these millionaires aren't flashy. They got rich over long periods of time by owning a home or years of investing. But what if you want to speed up the process? How can you become a millionaire BEFORE you retire? That's what this week's podcast is about: discussing...

According to the latest report from Vanguard , looking at the average amount of money saved for retirement, there's a good chance you might not be on track for comfort in your golden years. The average 45-year-old has less than $180,000 saved for retirement. But how do you change that? How do you even figure out when you have enough to retire? This week's guest is going to help you figure out your...

If you're on a steady salary, creating a spending plan is straightforward, because you know both what's coming in and what's going out every month. **** But what if you don't have a stable salary? What if you're one of the millions of Americans who do side work or own a business or get paid commission? For you, a variable income is just part of the deal. Then there are people who depend on tips, l...

So let me ask you: Got debt? If so, you're not alone. According to the Consumer Financial Protection Bureau, 28% of consumers have an account in collections . Think about that. More than one if four of us are getting hounded on a past-due bill! Maybe you're not to that point yet, but you can probably relate to the feeling of the bills piling up. Or maybe you're wondering how you'll pay off your pa...

About 30% of people have experienced financial infidelit y: things like: Keeping purchases secret: 31.4%. Hiding debts or accounts: 28.7%. Lying about income: 22.6%. Draining money from savings: 10.4%. Lending money without consent: 6.9%. All bad stuff, right? Even worse, financial infidelity can be a sign of other relationship issues. So, how do you avoid this stuff…or if you're already doing it,...

Are you familiar with it the SECURE Act, and its update, SECURE 2.0? If you're not, maybe you should be. It was recently signed into law, and while it may sound boring, as we're about to explain, there are provisions in this bill that could make you richer. So, let's take a minute and see what's in this thing. In this week's podcast, host  Stacy Johnson  is joined by financial journalist  Miranda...

According to at least one survey, as many as 80% of Americans prepare a budget . Even if you don't believe that statistic, it's probably safe to say that 80% of Americans have at least thought about having a budget. So, why don't they actually do it? You probably already know the answer: Because budgets are hard to stick to. And why is so hard to stick to a spending plan? Because they feel so rest...

Last year was terrible for stocks, with the Dow, S&P and tech-heavy Nasdaq all posting double-digit losses. And that showed up in retirement accounts. According to Fidelity, In the third quarter of 2022, 401(k) balances were 23 percent lower than the year before. That's a lot of loss. This makes for stressful savers, especially those nearing retirement. So, what's an investor to do? Let's find...

We've all heard the dismal statistics. Most people who set New Year's resolutions abandon them by February. What gives? Why is it so hard to follow through on our goals? And most important: What can we do to succeed? Let's find out. In this week's podcast, host Stacy Johnson  is joined by financial journalist  Miranda Marquit . Listening in and sometimes contributing is producer  Aaron Freeman . T...

Side hustles are increasingly a part of life, even if you're just trying to survive. In 2022, 45% of Americans said they had a side hustle , with an average monthly income of $483. While that might not seem like much, it's possible to use your side hustle as the basis for building financial freedom. In this podcast, we're going to meet someone who did just that. As usual, host  Stacy Johnson  is j...

Well, here we are: a brand new year! Chances are, you're one of the 81% of Americans with a financial new year's resolution . The most common financial resolution this year? Like many other years, it's paying off debt. But how do you make it happen? Obviously, with a plan. So, let's make one! As usual, host  Stacy Johnson  is joined by financial journalist  Miranda Marquit . Listening in and somet...

Episode 175 webpage. It's been a wild year. Crypto has fallen 70%. The stock market has been horrible. Bonds have had the worst year since 1700s! And we've watched inflation hit levels not seen since Reagan was in the White House. What does this mean as we move into a new year? Today, we're going to take a look at some of the biggest money stories of 2022 — and how they might impact your pocketboo...

Episode 174 webpage with links . Here we go again: A brand new year is right around the corner. And even if you're not among the 68% of people that make financial New Year's resolutions , you should still look ahead and plan some money moves for the new year. At least, if one of your goals is to get richer. As usual, host  Stacy Johnson  is joined by financial journalist  Miranda Marquit . This we...