Hi guys, and welcome to the Money podcast! When I was born back in 1955, the median house price was around $11,000. Today, it's about $330,000. When I got my learner's license in 1970, the median price of a new car was $3,500. Today? $41,000. When my father was born, the average annual household income was $3,300. Today it's about $70,000. These are all examples of inflation; the erosion of the purchasing power of the dollar. Ignore it at your peril, especially if you're anywhere near retirement age, since these are the years your income will likely rise less than prices will. We tend to think of inflation as consistent, but it's not. Sometimes inflation is low; sometimes prices actually drop year to year. But these days, inflation is rising faster than it has in years; in some cases, decades. So, what's an investor to do? That's what this week's "Money!" podcast is about. We're going to try to figure out if the inflation we're now experiencing is transitory, or if it's here to stay. And if we are entering a period of high inflation, we're going to talk about what you can do to fight back. As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman. Want more information? Check out these resources: Inflation Fears Are Surging — Should You Be Scared, Too? 8 Things Still Getting Hammered by Inflation 15 Ways You Can Deflate Inflation S. Cities With the Highest Rates of Inflation in 2021 Could Commodities Hold the Cure for Inflation? Should You Be Worried About Inflation Risk? 12 Smart Ways to Fight Price Inflation Wall Street Journal: Higher Inflation Is Here to Stay for Years, Economists Forecast The Hill: Is the current inflation spike really transitory? Bloomberg: Inflation Is Here. The Big Debate Is, Will It Stay? MarketWatch: Inflation is here to stay and may top 4% this year, says professor with a peerless record of predictions CNBC: Here's why businessman Ken Langone thinks the Fed is wrong and inflation is here to stay Kiplinger: Inflation Cools But Pressures Lurk Bloomberg: S. Inflation Forecasts Keep Rising as Supply Constraints Loom Bloomberg: Read the Runes. Inflation Is Showing Some Staying Power Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Money

Inflation May Be Here to Stay: Here's How to Beat It

Nearly every day, there's news that affects you and your money. From politics and taxes to markets and interest rates, things are happening that affect your savings and your future -- so many things, in fact, it's hard to keep up with them all. Problem solved. We track everything that's happening every day. And every couple of weeks, we condense it all and report everything you need to know in a special edition of the "Money!" podcast. In addition to recapping the news, we check in on our personal investments, and discuss ideas and suggestions to make you smarter and richer, all without boring you to death in the process. As usual, my co-host is financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman. Want more information? Check out these resources: Wall Street Journal: Covid-19 Deaths in U.S. Level Off as Delta Variant Surge Eases New York Times: Inflation Warning Signs Flash Red, Posing Challenge for Washington Bloomberg: Silicon's 300% Surge Throws Another Price Shock at the World Wall Street Journal: Xi Jinping Aims to Rein In Chinese Capitalism, Hew to Mao's Socialist Vision Wall Street Journal: Mortgage Payments Are Getting More and More Unaffordable Bloomberg:  Christmas at Risk as Supply Chain ‘Disaster' Only Gets Worse Wall Street Journal: Is the Stock Market Open at 3 a.m.? This Startup Says It Should Be New York Times: Stock, Bond and Real Estate Prices Are All Uncomfortably High CNBC: Strong wage gains cast doubt that inflation is going away anytime soon Wall Street Journal: Sharp Rise Brings Treasury Yields Near Spring Highs Barron's: The Dollar Is Rising. Here's How to Play It. New York Times: Global Deal to End Tax Havens Moves Ahead as Nations Back 15% Rate New York Times: There Is Shadow Inflation Taking Place All Around Us The Balance: Survey: Stock Market Poised for More Declines This Year CNBC: IMF cuts its global growth forecast, citing supply disruptions and the pandemic To see Stacy's stocks, click here Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Money News You'll Really Use: Mid-October 2021

President Biden said no one making under $400,000 will see their federal taxes go up. That's a lie... In fact, under his plan, an average family who earns over $50,000 will see a tax increase. That was a quote from Republican House Minority Leader Kevin McCarthy on September 30 while discussing the Biden $3.5 trillion Build Back Better plan now being debated in congress. Here's a quote from President Biden: I give you my word as a Biden: If you make under $400,000 a year, I'll never raise your taxes one cent. But, I'm going to make those at the top start to pay their share in taxes. One of these guys is lying. But as they say, "There are three types of lies -- lies, damn lies, and statistics." While facts are always facts, when things get complex, politicians tend to manipulate statistics to fit their desired outcome. Nonetheless, one of these guys is more right than the other one. Should the proposal pass, either taxes are going to go up for the middle class, or they're not. That's what this week's "Money!" podcast is about: cutting through the rhetoric and finding out exactly what Biden's Build Back Better social spending plan promises to do, who it will affect and who's really going to be on the hook to pay for it. As you listen, keep in mind this is a moving target. The bill is likely to have major changes and spending reductions before it passes, if it passes at all. But if nothing else, we thought it would make for a fascinating glimpse at how something as seemingly simple as how policies are paid for is often anything but. As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman. Want more information? Check out these resources: GOP: Analysis: Biden Tax Hikes Hit Middle Class Associated Press: What’s the price of Biden’s plan? Democrats drive for zero Heritage Foundation (Conservative Think Tank): Will Biden’s Spending Bill Hike Taxes on Those Making Less Than $400,000? Heritage Foundation: 8 Things You Need to Know About Democrats’ Tax Increase Bill Tax Foundation (right-leaning): Placing the House Build Back Better Act Tax Increases in Historical Context Tax Foundation (right-leaning) Build Back Better Act: Details & Analysis of the $3.5 Trillion Budget Reconciliation Bill Center for American Progress (Liberal) The House Ways and Means Build Back Better Bill Is a First Step Toward a Fairer Tax Code The White House: The Build Back Better Agenda KPMG: Legislative update: House Budget Committee’s report on “Build Back Better Act” Washington Post: With big tax push, Democrats aim to tackle enormous gains of top 1 percent Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Chris Orestis, Retirement Genius: RetirementGenius.com Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Will the Biden Social Spending Plan Raise Middle Class Taxes?

When it comes to investing, this apple fell far from the family tree. I became a Wall Street investment adviser, otherwise known as a stockbroker, in 1981 and have been an avid stock investor ever since. My parents, on the other hand, didn't own a single share of stock until their late 50s, and only then because my mother inherited a utility stock from her aunt. You can't blame them. My parents were survivors of the Great Depression, a time in history when stocks fell nearly 90% and some bank depositors lost it all. So it's natural they'd be more Treasury bills than stock investors. To them, the stock market was more a casino than a place for your life savings. It also helped that in their day, they didn't really need Wall Street, since they could easily earn 8% or more in risk-free T-bills or CDs. These days, with savings rates hovering near zero, many of us have been practically forced into stocks. But even for true believers like myself, we can't put all our eggs into a volatile basket. So it's important to be aware of other potential investments. And there are a ton of them: by my count, more than 20. Not all great ideas, of course, but it pays to be aware of your options. And that's what this week's "Money!" podcast is about: investments that don't involve stocks. So if you're like me and are reaching the upper boundaries of what you'll comfortably keep in stocks, or you're like my parents and want nothing to do with them in the first place, this is your podcast. As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman. Want more information? Check out these resources: How to Get Started Investing With $500 or Less 7 Ways to Slay Your Fear of the Stock Market 13 Dumb Investing Moves — and How to Avoid Them GoBankingRates: 13 Ways To Invest That Don't Involve the Stock Market Huffington Post: 10 Ways to Invest That Don't Involve the Stock Market Investopedia: 5 Alternative Investments for 2021 HowStuffWorks: 10 Reasonably Safe Alternative Investments Forbes: Think The Stock Market Is Expensive? Here Are 14 ‘Alternative' Investment Ideas The Balance: Best Investment Alternatives to Stocks Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

20 Ways to Invest That Don't Involve the Stock Market

Nearly every day, there's news that affects you and your money. From politics and taxes to markets and interest rates, things are happening that affect your savings and your future -- so many things, in fact, it's hard to keep up with them all. Problem solved. We track everything that's happening every day. And every couple of weeks, we condense it all and report everything you need to know in a special edition of the "Money!" podcast. In addition to recapping the news, we check in on our personal investments, and discuss ideas and suggestions to make you smarter and richer, all without boring you to death in the process. As usual, my co-host is financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman. Want more information? Check out these resources: CNBC: The stock market is undergoing a slow motion deterioration with pockets of shares down 20% or more Wall Street Journal: How Facebook Hobbled Mark Zuckerberg's Bid to Get America Vaccinated Barron's: Stocks Notch Worst Day in Months on Evergrande Fears Wall Street Journal: Xi Jinping Aims to Rein In Chinese Capitalism, Hew to Mao's Socialist Vision New York Times: Federal Reserve Signals a Shift Away From Pandemic Support Barron's: Here's How a Government Shutdown Would Disrupt Washington and Beyond Wall Street Journal: Hot U.S. Housing Market Cooled Some in August Bloomberg: U.S. House to Consider Bill to Ease Cannabis Banking Wall Street Journal: Dentists' Group Fights Plan to Cover Dental Benefits Under Medicare Wall Street Journal: Individuals Embrace Options Trading, Turbocharging Stock Markets Bloomberg: Brent Crude Declines After Topping $80 as U.S. Equities Sink Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Subscribe to the Money Talks News newsletter Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Money News You'll Really Use: End of September 2021

For many aging Americans, Social Security is critical. Social Security makes up at least 50% of the income for half of couples 65+ and is the sole source of income for about 20%. Imagine being one of those recipients, then reading articles with titles like Social Security Trust Funds Now Projected to Run Out of Money Sooner Than Expected, or Social Security Will Be Insolvent by 2033. or Social Security Could Be Insolvent Within 8 Years.  If you depend on Social Security to survive, this is scary stuff. But if you're worried about the viability of Social Security, here's something that might offer comfort: These same types of stories have been going around since I first became an investment adviser 40 years ago. Why do they periodically repeat? First, because there's some truth to them: Social Security does face funding challenges. But I suspect it's also at least partly because scary headlines sell stories. Still, Social Security funding issues aren't imaginary, and changes will almost certainly have to occur if the system is to remain viable. But what could those changes entail? More important, how can you best position yourself to maximize monthly checks when your time comes? Want more information? Check out these resources: 9 Social Security Terms Everyone Should Know Retirees Have a New Top Financial Fear in 2021 6 Money Mistakes That Will Wreck Your Retirement Don't Get Scared Into This Social Security Mistake 6 Groups Who Cannot Rely on Social Security Benefits A Simple Way to Maximize Your Social Security 12 Ways to Maximize Your Social Security Checks CNBC: Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says Motley Fool: How Safe Is My Social Security? Investopedia: How Secure Is Social Security? AARP: How much longer will Social Security be around? Kiplinger: Relax, Your Social Security Benefits Are Safe Subscribe to the Money Talks News newsletter Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

How Secure is Social Security?

While nothing in life is certain -- well, except death and taxes -- as you enter your retirement years, you'll face more uncertainty than ever before. While retirement's a time to relax, before you get there you'll be faced with risks that could derail your plans. What if you outlive your money? What if you come down with a debilitating, and expensive, illness? Will your income keep pace with inflation? Will you have enough to live the life you want? If you choose or need to work, will you physically be able to? What if taxes go up? What if Social Security goes down? Will you have enough to pay for a nursing home? Unless you're very rich, these risks could threaten a comfortable retirement and impact the amount of money you'll need. So a large part of retirement planning is about confronting risks: considering potential problems in advance and preparing as best you can, mentally, physically and financially. And that's what this week's "Money!" podcast is about. We're going to talk about the biggest retirement risks and how to prepare for them. Because while it's true that the only thing in life that's certain is uncertainty, it's also true that forewarned is forearmed. Want more information? Check out these resources: Vanguard: 5 risks you face in retirement Investopedia: Common Post-Retirement Risks You Should Know Forbes: How to Beat the Three Greatest Retirement Risks Subscribe to the Money Talks News newsletter Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

The Biggest Risks You'll Face in Retirement and How to Prepare

Nearly every day, there's news that affects you and your money. From politics and taxes to markets and interest rates, things are happening that affect your savings and your future -- so many things, in fact, it's hard to keep up with them all. Problem solved. We track everything that's happening every day. And every couple of weeks, we condense it all and report everything you need to know in a special edition of the "Money!" podcast. In addition to recapping the news, we check in on our personal investments, and discuss ideas and suggestions to make you smarter and richer, all without boring you to death in the process. Want more information? Check out these resources: USA Today: Home prices spiked 18% in July. Should you put off buying for the time being? Barron's: 2 Good Reasons the Stock Market Isn't Ready to Blow Up Yet Barron's: Stocks Are Mixed After Weak Jobs News Bloomberg: Goldman Cuts U.S. Growth Forecast as Consumer Sees ‘Harder Path' Wall Street Journal: Aluminum Hits Decade High After Guinea Coup Imperils Bauxite Supplies Bloomberg: Investment Banks Turn Sour on U.S. Equity Outlook Wall Street Journal: White House Unveils Plan to Cut Prescription-Drug Prices Bloomberg: Inequality Has Cost the U.S. Nearly $23 Trillion Since 1990 Bloomberg: More Strategists Say a Storm Is Brewing in the U.S. Stock Market Wall Street Journal: U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn New York Times: House Democrats Outline Tax Increases for Wealthy Businesses and Individuals CNBC: Consumer prices post smaller than expected increase in August CNBC: Fewer deals and shipping delays: Here are some early predictions for the holiday season Bloomberg: SEC Gives Whistle-Blower $110 Million in Second-Biggest Payout Subscribe to the Money Talks News newsletter Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Money News You'll Really Use: Mid-September 2021

When I worked as a Wall Street investment adviser back in the 80s, there was basically only one way we got paid: commissions. When I bought or sold shares of stock, the client paid about 1% of the value of the trade. When I sold an annuity, I got paid 4%. When I sold a mutual fund, the commission was anywhere from 2 to 7%. So back then, advisers made a living by taking a slice out of whatever money you invest. And for many, that's still true today. That system, however, isn't the best. For one thing, advisers get paid more for some investments than others, which can influence their advice. Another issue: While the best way to manage money is often to sit tight and do nothing, your adviser can't pay their mortgage unless your money is moving. It was flaws like these, along with the desire to create a steady, predictable adviser income, that years ago led to a new model: Instead of charging per transaction, charging a set percentage, typically around 1%, of the assets under management. Got a hundred grand? Pay $1,000 a year. A million? 10 thousand. But that system isn't ideal either. For example, does managing a million really require 10 times the effort of managing $100,000? And if the stock market doubles, does that warrant a 100% raise for your adviser? A final way of paying for advice has also gained in popularity: paying by the hour, just as you do with an accountant or lawyer. The problem? As with an accountant or lawyer, hourly rates can be high. So, what's an investor to do? Want more information? Check out these resources: Ask Stacy: Do I Need a Financial Adviser, or Can I Manage My Money Myself? 6 Signs Your Financial Advisor Could Be Ripping You Off 5 Questions to Ask Before Hiring a Financial Adviser How to Find the Right Financial Adviser US News: What to Know About Advisor Fees and Costs US News: How to Find a Financial Advisor if You're Not Rich SmartAsset: How Much Does a Financial Advisor Cost? Investopedia: How to Cut Financial Advisor Expenses Dave Ramsey: How Does a Financial Advisor Get Paid? Should You Use One? Money Under 30: When Is It Time To Hire A Financial Advisor? Forbes: Do I Need A Financial Advisor Or Should I Do It Myself? Here's When It's Worth It To Get A Financial Advisor. The Balance: How to Evaluate the Cost of Hiring a Financial Planner Nerdwallet: How Much Does a Financial Advisor Cost? The Balance: Is It Worth the Money to Hire a Financial Advisor? Money Talks News' savings account search tool Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Wealthramp: Pam Kruger's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

How Much Should You Pay for Investment Advice?

When my parents retired, they had no issues when it came to retirement income. In addition to Social Security, they both had retirement plans that offered a guaranteed monthly income for life. They also had investments, but they were the icing; the cake was those monthly checks. They didn't need to dip into their savings, because their income was more than enough to live on. It even adjusted for inflation. While these types of retirement plans still exist, they're getting more and more rare. Take me, for instance: Soon I'll be eligible for Social Security, but it won't be nearly enough to support my lifestyle. And unlike my parents, I won't be getting any additional monthly checks. So my savings aren't the icing; they're the cake. It's up to me to figure out how to convert my savings into monthly checks, and up to me to make sure it will be enough to last a lifetime. According to some researchers, retirees who have a predictable retirement income are happier than those who don't. Makes sense: Worrying about running out of money doesn't sound like a barrel of monkeys. Solution? For many approaching retirement without a guaranteed income, it's an annuity: an insurance contract that converts a lump sum of cash into a monthly income for life. But while annuities seem like the ideal solution to the retirement income problem, it's not all wine and roses. While ideal for some, they're not a perfect solution for all. Want more information? Check out these resources: 4 Reasons to Buy an Annuity — and 4 Reasons to Walk Away Ask Stacy: Should I buy an Annuity for Retirement Income? Your Top 5 Retirement Questions, Answered 6 Ways to Guarantee Yourself a Steady Retirement Income 7 Ways Retirees Can Fatten Their Bottom Line Investopedia: Retirement Annuities: Know the Pros and Cons Credit Karma: Annuities: Pros and Cons Motley Fool: The Pros and Cons of Annuities CNBC: Annuities: More cons than pros? Motley Fool: Are Annuities a Good Investment? US News: 16 Things You Need to Know Now About Annuities Money Talks News' savings account search tool Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Should You Buy an Annuity? The Pros and Cons

Imagine the internet coming to life. Instead of words on a screen, it's a 3 dimensional world. You don't read it or watch it. You step into it. You become an avatar -- a three dimensional graphical representation of yourself -- and interact with others in a virtual world. That's the metaverse, and it may be coming sooner than you think. If you've used a virtual reality headset to play a game, you've experienced some of what the metaverse has to offer. It's a 3-dimensional experience. You can look in any direction; you're not watching a game, you're inside the game. Now imagine extending that virtual reality experience into non-gaming situations. Shopping at a mall. Meeting with clients or customers. Hanging out with friends and family. Going to a concert, bar or baseball game. Sitting across the desk from me while I do my podcast. In short, the metaverse is a convergence of our physical and digital lives. Want to know more? Good, because that's what this week's "Money!" podcast is about. We're going to talk about this upcoming leap in technology that may rival cell phones and the Internet in terms of its impact on the world. More important, we'll talk about ways you can profit from what's ahead. Want more information? Check out these resources: Washington Post: The metaverse is the future of our reality. Bloomberg (video): Step Into the Metaverse Washington Post: The ‘Metaverse' is growing. And now you can directly invest in it Matthewball.vc: A Metaverse Primer Venturebeat.com: The Metaverse ETF will let you invest in stocks that are the internet's future Washington Post: Silicon Valley is racing to build the next version of the Internet. Fortnite might get there first US News: The 7 Best Metaverse Stocks to Buy Forbes: Making Money In The Metaverse Money Talks News' savings account search tool Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Welcome to the Metaverse

Nearly every day, there's news that affects you and your money. From politics and taxes to markets and interest rates, things are happening that affect your savings and your future -- so many things, in fact, it's hard to keep up with them all. Problem solved. We track everything that's happening every day. And every couple of weeks, we condense it all and report everything you need to know in a special edition of the "Money!" podcast. In addition to recapping the news, we check in on our personal investments, and discuss ideas and suggestions to make you smarter and richer, all without boring you to death in the process. Want more information? Check out these resources: Barron's: Cathie Wood Says Michael Burry Doesn't Understand the Innovation Space Barron's: Forget $100 Oil. Here's What to Watch in Energy Now. Wall Street Journal: Jerome Powell Says It's Unclear What Covid-19 Surge Means for Economy Axios: Why you should be ordering holiday gifts now Axios: Small business struggles Bloomberg: China Dip Buyers Finally Reach ‘Breaking Point' After 56% Loss Bloomberg: Bank-Averse Taliban Leave U.S. Struggling for Financial Edge Wall Street Journal: T-Mobile Hack Exposed Details of More Than 40 Million People Wall Street Journal: Ford Wants More Buyers to Order Online and Wait, Rather Than Pick Off the Lot Barron's: Retail Earnings Are Rolling In. Sales Are Up, and So Are Hopes. Bloomberg: Waymo Is 99% of the Way to Self-Driving Cars. The Last 1% Is the Hardest Barron's: Delta Covid Variant Won't Derail Economy, Fed's Bullard Says New York Times: Cutoff of Jobless Benefits Is Found to Get Few Back to Work Wall Street Journal: FDA Gives Pfizer-BioNTech Covid-19 Vaccine Full Approval Barron's: Big Tech Is in a Perilous Moment. The Stocks Are Unstoppable. Wall Street Journal: U.S. Crops Wither Under Scorching Heat Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Market Update: Money News You can Use End of August, 2021

When I was 17, the day after I graduated from high school I left my home in Atlanta and along with my friend Andy, hitchhiked across the United States. A couple of months later, we ended up in San Francisco with about $5 between us. As the money started to dwindle, we went from eating peanut butter and jelly sandwiches to just peanut butter sandwiches to just bread and finally to not much of anything. On our way back home, I remember getting a ride from a guy in an 18 wheeler hauling potatoes. As we got out of the truck around dawn in Amarillo, Texas, I asked the driver if I could take a potato. Standing there by the side of the road trying to find another east-bound ride, Andy and I tried to eat that raw potato like an apple. If you're ever tempted to try eating a raw potato, here's some advice: don't. Running out of money when you're a 17-year-old vagabond is one thing. Running out when you're retired and too old to make more is something else entirely. Which is why it's no surprise that running out of money before running out of time is the single greatest fear of those approaching retirement. In fact, according to one survey, for some retirees, outliving your savings is a greater fear than death. The problem as we approach retirement is that there are critical variables we can't control: How our investments will perform, how much money we'll need (what if I end up in a nursing home?) and the biggie: how long we'll live. Since we can't know the answer to these and other questions, unless you're very rich, you can't be sure your savings will outlive you. What's an investor to do? That's what this week's "Money!" podcast is about. We're going to talk about growing your nest-egg, but just as important, reducing your anxiety over it. After listening to this show, you're going to feel better about your odds of entering your golden years better prepared than you expected. Want more information? Check out these resources: What Happens If I Really Do Run Out of Money in Retirement? Why Your Retirement Will Be Nothing Like You Planned Why Women Are More Likely to Retire Poor Than Men (And What They Can Do About It) Your Top 5 Retirement Questions, Answered Kiplinger: 3 Strategies to Avoid Running Out of Money in Retirement CNN: 6 steps to avoid running out of money in retirement Lifehack: 7 Practical Ways to Avoid Running Out of Money in Retirement Motley Fool: 5 Strategies to Help You Avoid Running Out of Money in Retirement Ramsey: Are You In Danger of Running Out of Money in Retirement? US News: How to Avoid Running Out of Money in Retirement CNBC: 3 steps to avoid running out of money in retirement Forbes: How To Avoid Running Out Of Money During Retirement Money Talks News' savings account search tool Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

How to Avoid Running Out of Money in Retirement

It was February 27, 2014. I was doing a TV news story on something relatively new in the investment world: Bitcoin. After briefly explaining digital currencies, I wanted to show exactly how one goes about investing in them. So I had my videographer take some video of my computer screen while I purchased a half a Bitcoin in real time. My investment? $289.47. Months, then years, went by, and I forgot about the money I'd put in Bitcoin. Then, about 4 years later, Bitcoin was making headlines as it surpassed $10,000 in value. And that's when it hit me: I own some of that! So I went online, sold about half of the Bitcoin I owned. And since I was playing with the house's money, I used the proceeds to buy some of the second most popular digital currency, Etherium, which at the time was going for about $800. Fast-forward to today, and my crypto investments are worth around $45,000. My current crypto balance isn't all from my original $289 investment: I've invested additional money along the way. Still, this is a textbook example of a blind squirrel finding a golden acorn. And I'm not the only one. There are lots of similar stories, many infinitely more spectacular. I'll bet it's these type of stories, more than anything else, that are driving the crypto craze. That, and the insane volatility in the digital asset space. Just this year, Bitcoin started at around $30,000 per coin, got as high as $65,000, fell back to $30,000 and now have climbed back to $45,000. That means it's doubled, then lost half its value, then gained back 30%, all within 7 months. And because of all this price movement, are digital assets really worth investing in? How can something be a medium of exchange, like a currency, or a store of value, like gold, when it's this volatile? If nothing else, however, it's fascinating. That's why I wanted to learn about it and why I want you to understand it as well. That's what this week's "Money!" podcast is about. We're going to give you the skinny on what digital currencies are all about, how to invest, and a little advice on whether you should. Want more information? Check out these resources: Why Most Financial Advisors Won't Recommend Bitcoin Is It Too Late to Buy Bitcoin? Wall Street Journal: Want to Dip a Toe Into Bitcoin? Here's How to Invest in Cryptocurrency Barron's: Should Investors Buy Cryptocurrencies? The Barron's Roundtable Weighs In Time: You Have Cryptocurrency Questions. We Have Answers Forbes: Cryptocurrency 101: All You Really Need To Know Motley Fool: 5 Things to Know Before You Buy Bitcoin Investopedia: What You Must Know Before Investing in Cryptocurrency Money Talks News' savings account search tool Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Ready to Try Crypto Currencies? Here's Everything You Need to Know

Nearly every day, there's news that affects you and your money. From politics and taxes to markets and interest rates, things are happening that affect your savings and your future -- so many things, in fact, it's hard to keep up with them all. Problem solved. We track everything that's happening every day. And every couple of weeks, we condense it all and report everything you need to know in a special edition of the "Money!" podcast. In addition to recapping the news, we check in on our personal investments, and discuss ideas and suggestions to make you smarter and richer, all without boring you to death in the process. Want more information? Check out these resources: Associated Press: It's in -- and it's big: Senators produce $1T infrastructure bill Wall Street Journal: Tech Startup Financing Hits Records as Giant Funds Dwarf Venture Capitalists Wall Street Journal: Covid-19 Vaccine Mandates Split Corporate America Bloomberg: Millennials Should Beware of Rising Payment Apps Bloomberg: U.S. Job Growth Tops Forecast With Biggest Gain in Nearly a Year New York Times: A Hotter Future Is Certain, Climate Panel Warns. But How Hot Is Up to Us. Wall Street Journal: Senate Democrats Outline $3.5 Trillion Antipoverty, Climate Plan New York Times: Senate Passes $1 Trillion Infrastructure Bill, Handing Biden a Bipartisan Win Barron's: Inflation Cooled, a Little, in July. It's Still a Problem. Wall Street Journal: Mountain Dew Collaborates With PepsiCo, Boston Beer on a Boozy Version Wall Street Journal: How to Get Smarter: Start With the Brain Itself Money Talks News' savings account search tool Subscribe to the Money Talks News newsletter Take our course The Only Retirement Guide You'll Ever Need Take our course Money Made Simple Miranda Marquit's website Become a member: https://www.moneytalksnews.com/members/ See omnystudio.com/listener for privacy information.

Money News You'll Really Use: Mid-August 2021

Stacy Johnson&#39;s "Money." A podcast where we talk about all things money. How to get it, how to keep it, how to grow it, and what it&#39;s all going to mean to you and your life.

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