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What Money Advice Would You Give Your 22-Year-Old Self?
That’s the question we asked the women in our HerMoney Facebook group.
We’re the first to admit to our own youthful money blunders — like being more excited about getting personalized Looney Tunes checks than the prospect of compound interest. And Jean’s advice for younger Jean?: "I wish my 22-year-old self knew that it’s not so hard to save and plan for your future … I thought there was a secret behind a wall that wasn’t meant for me."
Here’s what the HerMoney tribe would tell our younger selves to do differently when it comes to budgeting (make a list of what truly makes you happy), retirement (don’t EVER cash out a retirement fund), saving, first apartments and first jobs.
P.S.: Join us in the HerMoney Facebook group to reminisce and pay it forward! Share what you’ve learned from experiences with our younger members.
Plus:
Selling a Home, Moving, Renovations, Downsizing and More
Real estate involves a lot of big-dollar, big-emotion decisions. The confusing combination is why so many of us make decisions with our hearts instead of the financial part of our brains.
This episode of the HerMoney Podcast* addresses both practical and emotional aspects of selling, moving, downsizing, renovating and renting. Jean is joined by Caroline Carter, founder and CEO of Done in a Day, a Washington, D.C.-based home transition and move management company and author of the "Smart Moves: How To Save Time And Money While Transitioning Your Home And Life."
Also, in this week’s Mailbag, Jean advises a mom who is concerned about saving for her son’s college education, a woman who’s considering putting all her investments into a target date fund and listener worries about market timing with looming recession fears.
Tax Tips for Women if you Went Through Some Stuff in 2019
If you went through anything out of the ordinary in the past 12 months, chances are it’s going to leave a mark on your tax return. We’re talking … getting married, divorced, starting a side hustle, giving birth, getting sick, getting older.
As you prepare to file (due date: April 15, 2020!), keep this rundown of tax tips handy.
Confession: I Doubled My Money and Now I’m Sold on Investing
"I don’t know what I was expecting, but it wasn’t this. While I wasn’t paying any attention (solid move, it turns out) my $5,000 savings more than doubled."
That’s a direct quote from Jean’s assistant, Becca Cohen. And it’s music to our ears!
Becca’s experience — here’s her firsthand account of turning $5,000 in savings into $10,608 — isn’t an anomaly. It’s the story of anyone who has set aside money in a diversified mutual fund and let the market and compound interest do its thing. It can also be your story, as long as you keep in mind:
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*This is a sponsored podcast, and it’s a part of a paid campaign with Fidelity Investments, which means we were compensated for this piece of educational content. Thanks!
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