The Money with Katie Show

At her career’s height, Lacy was earning more than a million dollars per year (!) as an executive at a major bank. Then, one early morning, Lacy woke up and realized she was unable to hear anything in her left ear, experiencing something called sudden sensorineural hearing loss. She feared the worst: Her career, as she knew it, was over.

Fortunately, Lacy had purchased a valuable insurance policy a decade earlier. And you don’t have to be pulling down seven figures like Lacy to benefit in the same way.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/disability-insurance.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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In this week’s Rich Girl Roundup, Cassie asks what financial considerations she should discuss with her long-term partner and co-parent. Katie and Henah review the financial advantages of legally marrying, and how to potentially work those benefits into a different type of legal agreement. They are not certified financial or legal professionals; please do your own due diligence.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/unmarried-finances.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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In our "money dysmorphia" episode, a theme emerged that I wanted to revisit: Money anxiety increasing with income, not decreasing. While most of us are probably familiar with the law of diminishing marginal returns and accept that after a certain point, money won’t make us any happier, the idea that money could make us actively unhappier is pretty antithetical to the entire capitalist enterprise.

So to get the inside track, we invited Clay Cockrell, a therapist for the ultra high-net worth, to talk through some theories about why someone might experience enhanced anxiety as they ascend the income ladder—and what it might mean you need to do next.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/more-money-more-anxiety.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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In this week's Rich Girl Roundup, Rich Girl Kelly S. asks, "Any resources for using a job offer to leverage more money in your current position? Is this a thing?" Katie and Henah share some suggestions, considerations, and a template for how to approach the conversation.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/negotiate-current-job.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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If you’ve ever found yourself feeling skeptical about capitalism (or the idea that its current iteration is the best and only economic system worthy of our attention), this episode is for you. 

My guest, Grace Blakeley, recently published a book called Vulture Capitalism in which she tees up what we fundamentally misunderstand about capitalism and knocks down the many half-truths that enable the status quo's most powerful narratives.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/capitalism.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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"I'm going to retire early, but my husband isn't. How do we approach our separate finances in early retirement?" asks a listener who's still interested in taking advantage of financial independence tax loopholes.

Reminder: We are not certified financial professionals, and this is not financial advice—please work with a CFP and CPA.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/different-fi-timelines.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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See why we’ve been named one of the top personal finance podcasts by US News and have nearly 10 million downloads, and check out The Money with Katie Show wherever you get your podcasts.

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For the first time ever, we're updating an episode we did back in 2022, all about money management systems. I’m detailing the two-track approach I recommend to hit your financial goals with minimal stress, because by taking advantage of the two big As—Automation and Amortization—you can put your financial life on the third A (Autopilot). (Sorry, I’ll stop.)

I am not a licensed financial professional, so please do your own due dil.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/money-management.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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One listener reached out to ask, "If I know I'm getting an inheritance, how can I ask my parents for it earlier? It'll go further now in my 30s than later." We address if that's the best move, considerations to keep in mind, and ways to thoughtfully position the ask.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/early-inheritance.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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We unquestioningly repeat the knowledge that index funds are the easiest way to “passively” build wealth. But what happens when too many investors go passive? Is this the most “benevolent bubble” in history? (Fair warning: That description is hyperbolic.) In this week’s solo expedition, I attempt to make sense of these claims—and what it would mean if they’re true.

(I am not a licensed financial professional, I’m just a podcaster with internet access, so please do your own due dil.)

Find a transcript—as well as the research and sources used to produce this episode—at:

https://moneywithkatie.com/index-funds

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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Traditional retirement advice often suggests balancing stocks and bonds as you near retirement—but as two Rich Girls pointed out, bonds seemingly don’t have great returns. So are they still worthwhile? And if so, should you buy them? Plus, we respond to some critical feedback we received.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/bonds.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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If we’re talking about negotiating for higher income without talking about labor organizing, we’re outright ignoring one of the most powerful determinants of how people are paid.

This week on the show, you’ll hear from two people: an anonymous 20-year veteran of publicly traded, multinational corporate human relations who believes the “at-will employment” structure in the US is the core of our systemic insecurity, as well as renowned labor journalist Hamilton Nolan, who advocates tirelessly for union density as the best way forward. 

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/unions.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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Listener Andrea shared a story that inspired this week's RGR: "I can't stop thinking about how my mom got screwed in a divorce and now has no retirement savings—she was a stay-at-home parent, and my father got all the assets in the divorce." We explore how to quantify and understand unpaid labor in the household, what stay-at-home parents can do to protect themselves, and other perspectives around gender norms and cultural beliefs.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/unpaid-labor.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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I wanted to share the three numbers that I believe have the most impact on your life, so I invited Brad Barrett of the Choose FI podcast joins me to give his real-time reactions. But, more importantly, the real takeaway we landed on is that every conversation purportedly about money is actually about what it means to live a good life. This is not financial advice; please do your own due diligence.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/top-3.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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One listener writes in, "I have my HYSA, my 401(k) plus employer match, a Roth IRA, and now am saving for a down payment. I'm worried I'm lopsided and over-saved for retirement." But is she actually saving too much? Hear Katie's hot take. (Reminder: We are not licensed financial professionals, and this is not financial advice. Please do your own due diligence.)

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/oversaving.

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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We had JL Collins, the Godfather of Financial Independence, on the show earlier this year, and there was one question we seemed to disagree on: Are the dollars and cents of life actually harder today than they used to be, or does it just feel that way?

This prompted a listener to ask for a deeper dive: The official Boomer vs. Zoomer cage match of economic strife to understand, all else held equal, how the financial worlds these generations grew up in are different (and, more intriguing, the striking ways in which they’ve never been more alike). Today’s episode is a then-and-now comparison into housing, education, wages, inflation, and investing—and I think it’s going to surprise you.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/gen-z-boomers.

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The FI/RE movement has picked up a lot of steam in recent years, but as one listener asks, how does that impact consumerism—and more broadly, can everyone to retire early?

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/fire.

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Some of you recently shared articles about the so-called “birth rate panic,” pointing out that the intersection of economic policy with people’s decision to have children felt a little…off. So, I decided to dig into the coverage, some of the gaps I see, the cultural scapegoats, and of course, the bigger issue of treating our economy like a global MLM.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/birth-rates.

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Many of you have asked: “How the heck do I make it work on a single income? What can I possibly do?” We’ll look at the levers you can pull (one in particular) and the context of how we got to this point. Plus, we respond to some of the feedback we received from our recent life insurance episode.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/single-income

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Depending on the source, the average American buys between 1 and 1.3 new pieces of clothing every single week—and consumption is at an all-time high. So, why aren’t we tired of cheap shit yet and how can we better understand our psychological obsessions with spending? Well, we’re diving into it with sustainability expert and author of Consumed, Aja Barber.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/overconsumption.

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On this week’s special Rich Girl Roundtable with Berna Anat: Traditional financial advice isn’t “one size fits all,” and that’s especially true for first-gen Americans who face unique challenges around building wealth and supporting family. How are the rules different for this demographic, and how can we make conversations around money more inclusive?

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/first-gen-finances.

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Life insurance is a notoriously scammy industry, made more confusing by the fact that there are legitimate forms of life insurance that aren’t a total waste of money. So which ones are legit, and which ones should you avoid?

Reminder: I am not a certified financial professional and this is not financial advice; please do your own due diligence.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/life-insurance.

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It's possible you might already have enough saved up for retirement, thanks to the power of compounding—a phenomenon in the FIRE community known as Coast FI. We cover how to calculate that number, if it's a reliable safety net, and what else to keep in mind.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/coast-fi.

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A few weeks ago, I asked you all if the concept of "disordered financial behavior" resonated with you—and the response was overwhelming. And while a large faction of millennials and Gen Z deal with money dysmorphia—or as I'm inclined to call it, money disorientation—I'm not sure if the traditional blame on social media is the real cause. So how are we developing money dysmorphia, and how can we learn to deal with it?

Transcripts, show notes, production credits, and resources can be found at: https://moneywithkatie.com/money-dysmorphia.

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In this week's Rich Girl Roundup, Katie and Henah answer the one prompt they often receive as two childless women: "Please run the numbers on childcare." Tune in to hear them run through the average budget and costs to set aside for various forms of childcare, as well as Katie's impassioned diatribe about the state of care work in the US.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/childcare.

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Millennials are taking matters into their own hands with the dueling crises of housing unaffordability and loneliness…by buying houses together. Brilliant move or total mess? We’ve got the inside scoop on both outcomes.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/buying-home-with-friends.

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In this week's Rich Girl Roundup, we answer the age-old question: Should I prioritize putting money towards X or Y? Rich Girl Natalie shares the choice she's grappling with: Pay off a mortgage faster or focus on saving for retirement? We walk through the calculations and considerations to ask yourself to make your money work hardest.

Reminder: This is not financial advice; we are not licensed financial professionals. Please do your own due diligence.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/priorities.

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We got a “tip” back in March (all right, fine, it was Henah’s friend) that a major US employer with hundreds of billions of dollars in revenue might be quietly “resetting” their workforce’s wages.

But upon further digging, we weren’t able to find much—so we asked all of you instead, and found an interesting trend unfolding quietly across industries. Check out this original Money with Katie ~investigation~.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/great-salary-reset.

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In this week's Rich Girl Roundup, Rich Girl Carolynn responds to our most recent full episode on cognitive dissonance asking if access to large amounts of credit is inadvertently keeping everyone complacent, rather than fighting against wealth inequality. We dig into this potential response as well as other reasons Americans feel powerless in our economic circumstances today.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/inequality.

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While we’re technically in a bye week, we’re releasing a bonus episode with an unreleased portion of my conversation from last week with Caroline Burke. We cover a lot of ground, but mostly, we discuss her thoughts on the tradwife phenomenon, pop culture, and consumerism’s influence on modern motherhood.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/tradwives.

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I recently wrote an article reflecting on the fact that an awareness of the systems you exist within can empower you to make even savvier individual decisions for yourself. But sometimes, when you’re carving out a safe, secure, full life under capitalism, the thing that’s better for you makes things worse for others. So it leads me to this question: How do we have a good relationship with money in an uncertain world, and how do we stay true to our ethical code while taking care of ourselves and our futures?

I wanted to invite two people I admire—feminist writer Caroline Burke and author, artist, and bookkeeper Paco de Leon—to talk about it more. 

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/cognitive-dissonance-wealth.

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For this week's Rich Girl Roundup: After a few Rich Gals wrote in looking for an update on our Hot Girl Hamster Wheel episode, we decided to sit down again and talk through how we’ve adapted our routines since seeing through the glossy, Sephora-sponsored matrix. How have we adjusted our own routines and spending over the last two years?

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/hot-girl-hamster-wheel-2024.

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You might be saving too much for retirement, if you aren't factoring in Social Security. But Social Security is the subject of a lot of pessimism, with many claiming "It'll run out by 2035!" The problem with this sentiment? It’s actually misleading.

So what are the implications for your future, and more importantly, your financial independence number? We'll dive into the future of Social Security, how it works, and whether you’d be better off taking home those wages and investing them yourself—and you'll probably leave you feeling really good about your own progress. 

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/retirement-social-security.

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For this week's Rich Girl Roundup, Rich Humans McKynna and Jake wanted to know: "Will the election impact our finances? How much does the president actually affect our money?" So we're attempting to talk it out in the most nonpartisan way possible, and digging into some of the listener feedback we received after our episode on private equity.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/election.

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There’s an expectation on women that we should be constantly striving to “have it all.” But as the pandemic laid bare, “having it all” usually just means “doing it all,” and doing it all...just doesn't work. 

Samhita Mukhopadhyay, former Executive Editor of Teen Vogue and author of The Myth of Making It: A Workplace Reckoning, joins me this week for an honest conversation about where we go from here—and what type of reckoning our workplaces and family lives face as women respond to structures that no longer make (never made?) sense.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/having-it-all.

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On this week's Rich Girl Roundup: If you're dealing with chronic illness or mental health issues, how do you strike the best balance between work and health? What kinds of flexibility or accommodations can you ask (and advocate) for?

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/health-work.

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We’ve all been there, roped into working with our uncle’s best friend’s financial advisor who charges a 1.5% fee for some inscrutable but seemingly important service. What do you do when you think it might be time to sever ties? And how do you reconstruct your financial life after breaking up?

Reminder: We are not licensed financial professionals; this is not financial advice. Please do your own due diligence.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/financial-advisor-breakup.

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On this week's Rich Girl Roundup: How do you navigate the world of dating as an aspiring Rich Person? When's the right time to bring it up? How do we make checking in about money "fun"?

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/dating

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You might be familiar with the phrase, "In this economy?" But it turns out, there might be more than one "economy" out there. There's a deep disconnect between what we hear about in the headlines ("The economy is great!") and our day-to-day experiences affected by wage stagnation, inflation, and high interest rates. We dig into it with the help of Mark Zandi, the chief economist at Moody's Analytics, as well as Judd Cramer, from the Harvard department of economics.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/economy-headlines.

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On this week's Rich Girl Roundup: "How do I overcome comfort spending?" and "How can I control stress shopping online?" We dive into some tactical strategies to curb overspending, why it's so prevalent nowadays, and the deeper psychology behind the urge to spend.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/impulse-spending.

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The idea that there’s someone out there who can “help you fulfill your dreams” and “reach your highest potential” is an enticing promise—but do they really know how the “secret” to living your best life? Are life coaches a legitimate investment or a quasi-pyramid scheme?

Well, I hired one to find out—and she’ll be joining me today along with Jane Marie of the popular podcast, The Dream.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/life-coaches.

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On this week's Rich Girl Roundup: You can't go online these days without coming across an offer to "buy my e-book" promising "everything you need to know to get rich." Where does this particular manifestation of "get rich quick" culture come from, and why do we most often see it with stay-at-home parents?

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/ebook-culture

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ESG (or “environmental, social, and governance”) investing has been one of the hottest financial trends in recent years. It promises something that sounds too good to be true: You can invest in a way that aligns with your moral compass, and you don’t have to sacrifice returns to do it. But…can you?

We’re joined by Alex Edmans, a professor of finance at London Business School and expert in the field, to help us cut through the greenwashing.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/sustainable-investing.

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On this week's Rich Girl Roundup: How can you spend and save in a way that lets you maximize your daily experience and keeps you on track with your money goals? Katie and Henah chat through balancing both short-term and delayed gratification, how to optimize for your life dreams, and when extreme stints in saving or paying down debt are worth it.

Rich Girl Roundup is Money with Katie's weekly segment where Katie and her Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/living-today-future.

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If you feel like everything from your vet bills to your favorite grocery store chains are getting worse at the exact same moment they’re becoming more expensive, there might be a singular explanation: private equity.

I dive in with guest Brendan Ballou, author of Plunder: Private Equity’s Plan to Pillage America and former special counsel for private equity in the Justice Department—baby's first federal investigation!

Disclosure: Brendan Ballou’s views are his own, not the views of his employer.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/private-equity

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Bachelorette parties have morphed into weekend-long celebrations, potentially costing upwards of several thousands dollars a pop. And when you’re in your 20s and 30s, you might find yourself heading to multiple bachelorettes and weddings a year—so what’s an aspiring #RichGirl to do? And how did it culturally become A Thing?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/bachelorette-parties.

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I’ve long entertained a logistically untenable fantasy of picking up and moving my life to Copenhagen for a season. Today, we explore what it takes to make a temporary or permanent international move.

We have two guests, CPA Katelynn Minott of Bright!Tax as well as Chartered Wealth Manager Alex Ingrim of Chase Buchanan USA, who walk us through taxes, retirement accounts, cultural, and ethical considerations of living abroad.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/living-abroad

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Rich Girl BT wrote in saying, "We talk more money with friends—but once they know the salary, they'll hold it against you. For example, they'll say, 'You can afford $750 for two nights at my wedding.' But I don't want to spend that." So, how do we navigate these situations in an attempt to be more transparent about finances?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

*Instrumental theme credit from Justin Canton.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, additional production credits, and more can be found at: https://moneywithkatie.com/money-conversations-friends.

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The world of status symbols and all their various manifestations (“quiet luxury,” “stealth wealth,” and even conspicuous dressing down as a backhanded sign of prestige) has operated in a more or less predictable way over the course of history—until now.

Amy X. Wang, whose reporting for the New York Times uncovered a replica black market that’s exploded in popularity in recent years, joins me to discuss.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/luxury-black-market.

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“Tax drag” can hold your money back from reaching its fullest potential—what is it, how does it work, and what do the outcomes look like? Plus, we share a wild money story involving $90,000 of debt. Have a money story of your own? Email us at [email protected], and we’ll anonymously share it.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/tax-drag.

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Writer Elise Loehnen (“On Our Best Behavior”) joined me to explore how our money stories make us spend, work, and live. Distinct cultural scripts shape our relationship with money, like “sloth” and “greed” or the idea that “a man should be a provider.” Even if you’re not consciously abiding by this societal shorthand, Elise says, it probably influences your attitudes.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/money-stories-culture.

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We're always told how expensive children are once you have them—but how do you prepare for them financially before they're here? How should you adapt or shift your budget when it comes to doctor's visits, insurance policies, TTC tools, and more?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/cost-of-children

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You know them, you love them, and you probably own them—but do you understand them? By “them,” I mean exchange-traded funds, or “ETFs.”

We’re digging deep into these magical little devices (everything from fee structures, to diversification, to how “bond ETFs” might be a great replacement for your complex bond configurations). We’re joined by Samara Cohen, Chief Investment Officer of ETF and Index Investments at BlackRock—one of the largest providers of ETFs in the game—to see how she’s thinking about ETFs in 2024.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/investing-etfs

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A recent Bloomberg Opinion piece said, "Your 401(k) will be gone in a decade," sounding off alarm bells in the MWK community. Is it true, and if so, what does it really entail?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/401k-future.

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If you've ever waded into personal finance content, you’re probably familiar with lifestyle creep. It gets a lot of airtime because it’s a natural financial experience: to spend more as you earn more. But because there's no positive equivalent about intentionally upgrading your lifestyle, all enhancements are cast through this "to-be-avoided-at-any-costs" lens.

Fortunately for us, my evolution on the subject has been entombed for eternity on the internet. I dug through five years' worth of posts for this episode…and I share the equation that helped me determine "how much" creep is encouraged.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/lifestyle-creep-episode.

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We've got some range for you today: Dissecting the recommendation to spend 30% on your housing (and if it's outdated), stories of folks receiving inheritances and homes from their parents, and a social experiment on gender and appearance.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/30-housing-rule.

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If the entire US economy were worth $1,000, a few of those dollars would be driven by music and movies. Of those few dollars, just three people (of whom one is imaginary) were at the helm in 2023, driving 30 cents of it on their own: Barbie, Beyoncé, and Taylor, who together generated around $10 billion in economic value last year. 

But despite this strong showing, women's media is still consistently belittled. Author, culture commentator, and host of the popular Be There in Five podcast, Kate Kennedy joins me to unpack the ways society often delegitimizes women's interests, how pop culture shapes actual culture, and the (financial) power of women's storytelling.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/womens-economic-power

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If your loved one keeps making bad money decisions, should you intervene? And if so, what’s the best way to approach it?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/money-intervention.

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Most of our listeners probably know they should be involved in the ~marital finances.~ But very few people, it seems, understand how signing a marriage contract legally changes their financial rights (I know I didn't back when I got married!).

Whether you’re single and considering marriage one day, already happily married, or experiencing divorce, this episode is a must-listen. Content warning: This episode includes stories of intimate partner violence as well as financial abuse.

This is not financial or legal advice—please do your own due diligence, as laws vary by state.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/marriage-financial-rights.

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Rich Guy Gavin asks, "Is the 15-year mortgage worth it?" Plus, given how few people can afford them nowadays, Katie and Henah chat through if the 15-year mortgage is dead. We run the numbers, the factors to consider, and some workarounds to make the 30-year mortgage more appealing.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/rgr-15-year-mortgage.

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The Simple Path to Wealth by JL Collins is financial independence canon. The premise boils down to elegant simplicity: Spend 50% of your income and invest the other 50% in one specific index fund, VTSAX. We ask the Godfather of FI about it all—covering everything from his reliance on VTSAX and the American economy, to managing market crashes, to the debate over homeownership.

Reminder: This is not financial advice; please talk to a certified financial professional and do your own due diligence.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/simple-path-to-wealth-jl-collins

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Rich Girl Liz H. wanted to know: "How do I know if I'm too 'liquid?'" Chances are, you probably do have too much in your emergency fund—Katie and Henah chat through mental blocks and reframes to consider, when you might want to save more, and what Katie personally keeps in her own accounts.

Reminder: This is not financial advice; we are not certified financial professionals—please do your own due diligence.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits, and more can be found at: https://moneywithkatie.com/rgr-too-much-cash.

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Low-wage work is more prevalent in the US than any other high-income nation—and we've essentially seen 50 years of stasis in anti-poverty efforts. After reading four different books about why the US has such a difficult time minimizing poverty despite having relative abundance, we deep dive into the main issues that keep the poor in place. We also talk about ways to solve for poverty, like readdressing policy, improving allocations for spending, and more.

Transcripts, show notes, production credits, and more can be found at https://moneywithkatie.com/poverty-in-the-us.

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An Austrian heiress made headlines when she announced she would let 50 strangers decide what to do with $27M USD of her inheritance. Katie and Henah discuss the potential impact of this kind of social experiment, how the lack of inheritance and estate taxes disproportionately support inequality, and why "generational stability" might be worth striving for more than "generational wealth."

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at: https://moneywithkatie.com/austrian-heiress-experiment

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The abuse of prescription drugs on college campuses has skyrocketed in the last 10 years—and by extension, so too has the intricate ecosystem of college-aged dealers and distribution networks. So today, we're covering a multimillion-dollar fraternity drug ring scandal at the College of Charleston with the investigative journalist, Max Marshall, who covered it in his book, Among the Bros. We talk about power, privilege, and the near-total lack of consequences in this story — and how it serves as a bit of an allegory for the real world.

Need a primer on the various names involved in this story?

• Mikey Schmidt, the main drug plug for the fraternity with connections to cartels in Atlanta, and the contact for the fraternity's distribution networks and runners
• Rob Liljeberg, a former Eagle Scout who went on to become the president of the Kappa Alpha fraternity
• Zach Kligman, also known as the "Charleston Kingpin," who would help traffic the drugs into Charleston
• Patrick Moffly, a socialite, beloved party boy, and son of a big-time real estate developer and a Congressional candidate. Moffly helped create and sell the drugs sold through the fraternity.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/fraternity-drug-ring.

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What can you write off from your side hustle? Should your business be an S Corp? What's the best retirement account for self-employed folks? We cover it all, once again with the help of CPA & CFP Tim Steffen of Baird Wealth.

Reminder: This is not financial advice; please do your own due diligence with a licensed professional.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at https://moneywithkatie.com/business-writeoffs.

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Tune in to this episode of BOSSY, the other podcast I host with entrepreneur Tara Reed, of Apps Without Code. This is a show we started at the end of 2023 to expand our surface area beyond just personal finance to entrepreneurship and career-focused conversations—you can hear new episodes every Thursday.

This episode is our conversation about pivoting out of business slumps—aka, you've been trying something for awhile and it's just...not working. What do you do? What are your options? How do you get unstuck?

Listen to BOSSY wherever you get your podcasts or on YouTube.

Transcripts, show resources, production credits, and more can be found at: https://moneywithkatie.com/bossy-money-entrepreneurship.

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I’m going out on a limb today to say: No, I don't think “high interest rates” are the problem in today’s housing market.

The “high interest rate” might be a bit of a red herring. So today, we’ll talk about how the current situation stacks up to years past, the strange upsides of higher interest rates, and the decision to rent or buy in 2024.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/rent-buy-2024

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Many of you wanted to know: What deductions can I look into to lower my tax burden if I’m not a business owner? We’re bringing back Tim Steffen, a CFA, CFP, and CPWA at Baird Wealth, for another Rich Girl Roundtable.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at https://moneywithkatie.com/tax-deductions-non-business.

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The decision to negotiate even once creates an economic ripple effect in your life that researchers found means retirement up to eight years sooner.

Start hair-spraying your combovers, people, because we’re talking about #TheArtOfTheDeal with this negotiation masterclass, featuring expert Kathryn Valentine of Worthmore Strategies.

Transcripts, resources, production credits, and more can be found at: https://moneywithkatie.com/negotiation.

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Trying to plan a group trip with friends who make wildly different incomes? We got you—here are Katie and Henah's best tips for balancing fun and financials.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at https://moneywithkatie.com/planning-group-travel.

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Comparison is human nature, so trying to prevent yourself from noticing all the success portrayed in your feeds and social circles is an uphill battle. Instead, learning how to compare productively works with your nature, not against it. And where better to start than with #RichGirlNation? See what hundreds of you submitted about your incomes, budgets, and net worths—and what surprised us most.

Transcripts, show notes, resources, and more can be found at: https://moneywithkatie.com/rich-girl-nation-stats.

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Dozens of you asked: Is it time to graduate from tax programs like TurboTax to a CPA? We bring in Tim Steffen, a CFP, CPA, and CPWA at Baird Wealth, for another Rich Girl Roundtable. We'll walk through whether you need a CPA or not, when to look for one, and what to know about fees.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at https://moneywithkatie.com/time-for-a-cpa.

Reminder: This is not financial advice; please do your own due diligence.

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In September 2022, I made the decision to quit drinking alcohol altogether. Now, I'm looking back at the last 15 months, the role alcohol plays in our GDP and personal finances, and all the unintended positive benefits I’ve stumbled upon since switching out my New Belgium Fat Tire for Athletic Brewing’s N/A IPA.

Transcripts, show notes, resources, and more can be found at: https://moneywithkatie.com/reflection-one-year-sober.

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Rich Girl Elyssa asks, "What should I do with a year-end bonus?" Katie and Henah chat through the two buckets of bonuses: expected (as part of your total compensation) or unexpected (when you've gone above and beyond)—and how they'd handle each.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at https://moneywithkatie.com/rich-girl-roundup-what-to-do-bonus.

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When is it time to start working with a financial professional? Do you ever need to hire one? And, maybe more importantly, what are telltale signs of a good (or bad) one? This week’s episode breaks it down so you can make sense of the decision—featuring not one, but two financial pros who hold the esteemed CFP® certification: Shelby Ferstl and Eric Jones.

🤑 Interested in working with a potential Money with Katie-aligned financial professional? Fill out this form here.

Transcripts, show notes, resources, and more can be found at: https://moneywithkatie.com/when-its-time-to-work-with-a-financial-professional.

—

The information presented is solely for informational purposes. The information, statements, comments, views, and opinions expressed in this podcast do not constitute and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action. The views or opinions expressed in the podcast are my views, or Shelby’s personal views, and do not reflect the opinions and beliefs of the podcast, its affiliates, my employer, or Shelby’s employer, or any other person.The podcast does not undertake any duty to publicly or otherwise update or revise any disseminated information.

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Rich Girl Sierra S. asks, "Is it worth paying a roboadvisor fee to get the benefits they offer, especially if you don't want to put the effort in?" Katie and Henah share a refresher on what roboadvisors are, what fees are worth it, and the benefits of using them.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at: https://moneywithkatie.com/rich-girl-roundup-roboadvisor-fees.

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We all love trying to better ourselves, but sometimes that drive can come at the expense of contentment. Is it possible to be both ambitious and satisfied? After a certain point, the pursuit of additional financial resources is not about money at all, but what it might symbolize.

This week’s episode is part-vulnerable exploration of my own hang-ups, part-manifesto for finding contentment in the midst of your ambition.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/how-to-define-enough.

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There are so many benefits to booking travel in advance: psychologically, logistically, and financially. What's the best way to do so, and how can we book our travel to get the best bang for our buck?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at: https://moneywithkatie.com/rich-girl-roundup-travel-tips.

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Let's talk about the many hacks for HENRYs and HENRIETTAs to move from high incomes into high net worths. We'll go over some of the best tax-advantaged vehicles for high earners, alternative investment callouts, and hear from Chris Hutchins of All the Hacks (https://www.allthehacks.com/) on little-known hacks to leverage in order to supercharge your wealth.

As a reminder, we are not licensed financial professionals and this is not financial advice. Please do your own due diligence.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/high-earner-not-rich-yet-henry-hacks.

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As of May 2023, more than a trillion dollars worth of 401(k) assets were left behind by former employees. Here's how you can easily roll over your 401(k), why you should, and the rare instances where it might make sense to track it but leave it as is.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at: https://moneywithkatie.com/rich-girl-roundup-401k-rollover.

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“Miss Gatti, are you traveling?” was the phrase that began one of the most stressful financial sagas of my life. Because as I'd come to learn, I’d become the victim of an elaborate “middleman” scam. Here's the play-by-play of what went down, and what I learned along the way. This week’s episode is a fun jolt of schadenfreude at my expense, so listen if you’d like to laugh while you learn.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/identity-theft-scam.

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Rich Girl Jen W. asked: "How can I host friends on a budget?" Katie and Henah share their best tips on everything from the guest list and invites to decor and food planning—all while minimizing costs and maximizing the experience.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcript, show resources, production credits and more can be found at: https://moneywithkatie.com/rich-girl-roundup-easy-ways-host-on-budget.

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I'm not superstitious, but I am a little stitious—thanks to the goal-setting exercises we're doing in today's episode. I started doing this process in 2021, and so many of my past, hyper-specific visions have come freakishly true that it’s now a borderline sacred process to me. 

We’ll start with the big picture “alignment” questions, and then shift into the annual quantitative assessment I do for our financial picture. If you've been feeling stuck or cloudy in your life, this process might provide the clarity and direction you’ve been looking for. 

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/set-financial-life-goals-for-next-year.

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More than 50% of American adults surveyed by The Motley Fool used "Buy Now, Pay Later" in 2021 and 2022—it's a common short-term financing option to make bigger purchases. So when should you use it, and when is it worth avoiding?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, show resources, production credits, and more can be found at https://moneywithkatie.com/rich-girl-roundup-buy-now-pay-later.

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America has defaulted to the 40-hour workweek for nearly 90 years. But why do US employees work more than any other industrialized nation? Is it the #LoveOfTheGrind…or something else? And, could less work and more vacation allow for the same level of productivity?

We're joined by economist Daniel Hamermesh from the National Bureau of Economic Research to analyze some theories as well as possible solutions for shifting our approach to work.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/america-time-off-vacations-9-5-future.

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If you've got a W-2 job and earn 1099 income, there are some worthwhile opportunities to consider in order to lower your burden this #taxszn. Save your hard-earned dollars with these hacks.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: While we love diving into investing- and tax law-related data, we are not financial professionals. Please do your own due diligence.

Transcripts, show resources, production credits, and more can be found at: https://moneywithkatie.com/rich-girl-roundup-debt-deep-dive.

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If you’re a regular listener, you probably know that we already did an “ultimate” Traditional vs. Roth 401(k) episode this year. “Katie,” you might be saying, “Do you mean to tell me that the ultimate strategy was…*gasp* wrong?”

We put my strategy to the test with Eric Jones, CFP® with the Hook Jones Group at Baird Private Wealth Management, to find out.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/cfp-ultimate-traditional-vs-roth-strategy.

—

Reminder: We are not licensed financial professionals, and this is not financial advice. Please do your own due diligence.

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Credit cards, lines of credit, student loans—debt is a normal part of life. How should we prioritize our debt(s), and what’s the best way to pay them off?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, show resources, production credits, and more can be found at: https://moneywithkatie.com/rich-girl-roundup-debt-deep-dive.

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When I first learned about personal finance, I was all about FI/RE (financial independence, retire early). But then came along financial freedom. But how are they different, and what has that nuance unlocked?

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/financial-freedom-closer-than-you-think.

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If you could supercharge your kid’s future with thousands of dollars, would you? We share one investing hack that can make that happen—the Custodial Roth IRA.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, resources, production credits, and more can be found at https://moneywithkatie.com/rich-girl-roundup-investing-hack-kids.

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Join us for this investigative deep dive into the state of public educator salaries in the US. Does it pay to be a teacher? Or is there merit to the argument that teachers aren't underpaid? And how can we actually fix the issues of wage stagnation and prestige in education? We heard from more than half a dozen #RichGirlNation educators who shared the inside scoop on their own experiences.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/how-underpaying-teachers-became-the-norm-and-how-to-fix-it.

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If Katie could only recommend 3 books to the Rich Girl audience, which would she share? Katie and Henah talk through each of her top recs (as well as some honorable mentions) and how they've changed her approach to personal finance.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/rich-girl-roundup-katies-book-recommendations.

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Live for free! Okay, maybe not free—but house-hacking, or buying a property that you plan to live in and rent out for income, is a potential solution if you’re feeling financially stuck as an aspiring homeowner.

We go way deeper on the subject than ever before, with help from David Greene of the BiggerPockets real estate podcast (https://www.biggerpockets.com/podcasts/real-estate). We cover: Who house-hacking is for (and maybe who it's not), whether to self-manage or outsource, and the paradox of appreciation vs. cash flow.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/house-hacking-the-best-path-to-homeownership.

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What is Money with Katie behind the scenes really like? We compiled all your submitted questions from Instagram, and Katie and Henah share the inside scoop on everything from revenue and sponsorships, to how they pick and write episodes.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/rich-girl-roundup-behind-the-scenes-of-mwk.

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“Sugar dating” is a resurgent phenomenon on social media right now, and rumors coming out of the dating app Tinder speculate that a new offering aims to compete with the preeminent sugar dating site, Seeking.com (formerly Seeking Arrangements). We’re diving into this world with the help of award-winning BBC investigative journalist Tiffany Sweeney.

As a content warning, there are mentions of both sex and mental health throughout this episode.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/the-resurgence-of-sugar-baby-culture.

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Should you combine all your finances upon marriage? Is there a case for keeping them apart? We brought in the expert, CFP and Certified Financial Therapist Bill Nelson (https://pacesetterplanning.com/), to share what he most commonly sees and why you might be better off combining.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/rich-girl-roundup-money-marriage-risks-of-combined-finances-and-separate.

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Everyone says the first five years of your kid’s life will be the most expensive. But do things really get easier? Well, kind of. Financial expert and mother of two, Farnoosh Torabi (@farnooshtorabi), brought some practical advice to the show this week for people who know they want to be parents, but I think it also applies more broadly to setting yourself up to get what you want out of life.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/how-kids-impact-fi.

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Rich Girl Allyson T. asks, "What effect does shopping small businesses have on our wallets? What about the small business owner’s wallet? And how does that compare to us buying the same thing at Walmart or on Amazon?" Katie and Henah chat through the landscape of small businesses today, what the "gray area" is when it comes to corporations, and how we can make the most impact with our dollars.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Transcripts, resources, show credits, and more can be found at https://moneywithkatie.com/rich-girl-roundup-does-shopping-at-small-business-really-matter.

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Today, we’re making the personal and professional case for some extended time off. Who needs a sabbatical, and most importantly, how do you take one? We cover the logistics, finances, and psychology behind stepping away from work—along with three interviews: Jen Fisher, the Human Sustainability Leader from Deloitte, Progress Coach Jillian Johnsrud, and Rich Girl Rachael Levine (@trippingmillennial) who took a sabbatical of her own.

Join the waitlist for a discount on the 2024 Wealth Planner: https://www.morningbrew.com/money-with-katie/subscribe/mwk-wealth-planner-2024

Transcripts can be found at https://podcast.moneywithkatie.com

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While I love diving into investing- and tax law-related data, I am not a financial professional. I have no formal financial education. I am not a financial advisor, portfolio manager, or accountant. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

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Rich Girl Meredith asks, "I’m interested in taking the plunge and starting a side hustle, but it seems like there are so many upfront costs. How much is reasonable to spend before I even know if I’ll make any money?" Katie and Henah consider the most important costs to invest in first, what can wait, and how to take a calculated bet on yourself.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Join the waitlist for a discount on the 2024 Wealth Planner: https://www.morningbrew.com/money-with-katie/subscribe/mwk-wealth-planner-2024

Reminder: While we love diving into investing- and tax law-related data, we are not financial professionals. We have no formal financial education. We are not financial advisors, portfolio managers, or accountants. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

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2023 has been a year of soaring prices and rising inflation rates. In tough markets like today’s, fixed-income maturities can help provide stability and growth. We review traditional income strategies—such as bonds, deferred fixed annuities, and CDs—as well as new innovations in the space, like fractional CDs.

About Fresh Invest: From market shifts to emerging asset classes, Fresh Invest breaks down the current financial climate, what it means to you as an investor, and actionable steps you can take to manage your money and set yourself up for a solid financial future. Join Morning Brew co-founder and executive chairman Alex Lieberman on his weekly deep dive with Fidelity guests.

Custom music by Davis Jones.

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I recently read an r/personalfinance post about someone's financial position: "I have $5,000 in a 401(k), about $10,000 in my Robinhood, $15,000 in Chase, and $1,000 in stocks, and some cash. Am I on the right track?"

While this mental model is logically reasonable (where you're physically putting the money vs. the vehicles themselves), it reminded me how powerful it can be to think about the structure of your finances accurately. I dive into a few tools, tactics, and lenses at which we can assess and optimize our financial ecosystem—and how we can supercharge our wealth for the long-term.

Transcripts can be found at https://podcast.moneywithkatie.com

While I love diving into investing- and tax law-related data, I am not a financial professional. I have no formal financial education. I am not a financial advisor, portfolio manager, or accountant. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns.  Money with Katie, LLC.

—

Mentioned in the Episode

• Building a Spending Plan: https://podcast.moneywithkatie.com/everythings-an-investment-building-your-epic-spending-plan/
• How to Set Up Money Management Systems: https://podcast.moneywithkatie.com/how-to-set-up-money-management-systems-for-short-term-long-term-goals/
• I Invested in My First Startup: https://podcast.moneywithkatie.com/i-invested-in-my-first-startup-and-it-was-terrifying/
• Investing Outside Your Retirement Accounts: https://podcast.moneywithkatie.com/investing-outside-your-retirement-accounts/
• How to Build a Diversified Stock Portfolio: https://podcast.moneywithkatie.com/how-to-construct-a-diversified-stock-portfolio-of-major-index-funds/

—

Follow Along at Money with Katie: https://moneywithkatie.com/

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Rich Girl Laura V. asks, "How would you recommend strategically investing for retirement if you don’t have access to an employer sponsored account or an HSA?" Katie and Henah walk through your other investment options along with some suggestions to help encourage employers to offer access to retirement plans.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: While we love diving into investing- and tax law-related data, we are not financial professionals. We have no formal financial education. We are not financial advisors, portfolio managers, or accountants. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

—

Mentioned in the Episode:

• 401(k) contribution limits vs. the IRA contribution limits in 2023: https://www.irs.gov/newsroom/401k-limit-increases-to-22500-for-2023-ira-limit-rises-to-6500
• The Solo 401(k) and SEP IRA: https://moneywithkatie.com/blog/tax-advantaged-retirement-investing-for-the-self-employed-sep-iras-and-solo-401ks
• Gusto study on offering retirement benefits: https://gusto.com/company-news/one-secret-to-retaining-top-talent-offering-retirement-benefits
• WTW survey on retirement benefits: https://www.wtwco.com/en-us/news/2022/04/health-and-retirement-benefits-jump-as-key-reasons-employees-join-or-stay-with-employer
• State-mandated retirement plans: https://www.adp.com/resources/articles-and-insights/articles/s/state-mandated-retirement-plans.aspx

—

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Women and men can have very different lived experiences when it comes to money. We talk through what some of these differences are, discuss how they impact financial planning, and explore investing strategies that support women’s unique financial goals.

About Fresh Invest: From market shifts to emerging asset classes, Fresh Invest breaks down the current financial climate, what it means to you as an investor, and actionable steps you can take to manage your money and set yourself up for a solid financial future. Join Morning Brew co-founder and executive chairman Alex Lieberman on his weekly deep dive with Fidelity guests.

Custom music by Davis Jones.

Learn more about your ad choices. Visit megaphone.fm/adchoices

In 2021, high school boys on TikTok were pumping meme coins and discovering (then misapplying) the concept of exponential compounding. Today, with the benefit of hindsight, we can learn a lot about what crypto's rapid rise and fall might mean about money.

Plus, we’re going down the rabbit hole of the competing theories about what money really is: Why do we all agree it has value? What happens if the government keeps making more of it, and is crypto the wrong solution for the right problem?

Transcripts can be found at podcast.moneywithkatie.com

While I love diving into investing- and tax law-related data, I am not a financial professional. I have no formal financial education. I am not a financial advisor, portfolio manager, or accountant. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns.  Money with Katie, LLC.

—

Mentioned in the Episode

• The Future of Cryptocurrency, via The Economist: https://www.youtube.com/watch?v=5-rCKo4CBgM&ab_channel=TheEconomist
• Narrative Economics by Robert Shiller: https://bookshop.org/a/90396/9780691210261
• Mike Green of Simplify Asset Management: https://investresolve.com/podcasts/mike-green-the-fourth-turning-and-reimagining-the-american-dream/
• Stephanie Kelton's TED Talk on the Big Myth of Government Deficits: https://www.youtube.com/watch?v=FATQ0Yf0Fhc

—

Follow Along at Money with Katie: https://moneywithkatie.com/

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After purchasing a home, listener Ryan says they now regret it and miss the cash cushion they used to have. What can they do now? Katie and Henah run through the various scenarios—and how universal the feeling of "buyer's remorse" can be, even with housing.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: While we love diving into investing- and tax law-related data, we are not financial professionals. We have no formal financial education. We are not financial advisors, portfolio managers, or accountants. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

—

Mentioned in the Episode:

• The Right of Rescission: https://www.consumerfinance.gov/ask-cfpb/how-long-do-i-have-to-rescind-when-does-the-right-of-rescission-start-en-187
• Anne Helen Petersen's How Your House Makes You Miserable: https://annehelen.substack.com/p/how-your-house-makes-you-miserable
• How Rent vs. Buy Shifted in 2023: https://podcast.moneywithkatie.com/how-rent-vs-buy-shifted-in-2023/

—

Read Money with Katie: https://moneywithkatie.com/

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I invested in a startup for the first time as an angel investor, and, honestly, the process was…strange. While public market investing feels comfortable and “safe,” private investments feel like pulling the lever on a slot machine with a few thousand bucks on the line.

We're taking Rich Girl Nation behind the scenes of the process, with three guests this week. I'm joined by Arman Hezarkhani, the founder & CEO of Parthean (https://www.parthean.com/) about my investment and what I did wrong. I also chatted with Steph Mui, the founder & CEO of PIN (https://www.getpin.xyz/) and Erica Wenger, founder of Park Rangers Capital (https://www.parkrangerscap.com/).

Transcripts can be found at https://podcast.moneywithkatie.com/.

Reminder: While I love diving into investing- and tax law-related data, I am not a financial professional. I have no formal financial education. I am not a financial advisor, portfolio manager, or accountant. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

—

Mentioned in the Episode

• Defining an "accredited investor" & how to invest as a non-accredited investor: https://www.upcounsel.com/how-to-invest-without-being-an-accredited-investor
• Questions if you're thinking of investing in startups: https://www.forbes.com/advisor/investing/invest-in-startups/

—

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There's a lot of financial advice out there about what to do in your 20s—but what about your 30s? We also chat through a few pieces of feedback from last week's Rich Girl Roundup on taxes.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: While we love diving into investing- and tax law-related data, we are not financial professionals. We have no formal financial education. We are not financial advisors, portfolio managers, or accountants. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

—

Mentioned in the Episode:

• Last week's Rich Girl Roundup on owing vs. getting a refund with taxes: https://podcast.moneywithkatie.com/rich-girl-roundup-are-you-on-track-to-owe-get-a-refund-or-break-even/
• Chelsea Fagan's TikTok about your 30s: https://www.tiktok.com/@faganchelsea/video/7207116547679194373?lang=en
• Does the Perfect "Save Rate" Exist? https://podcast.moneywithkatie.com/does-the-perfect-save-rate-exist-i-figured-it-out/
• 
  

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Today we're venturing into the world of taxable investing—aka flexible money you can access at any time. How do we balance building wealth here along with our tax-advantaged accounts like a 401(k) or an IRA? Who should be making this a priority? And how does it actually work? Let's dive in.

Reminder: While I love diving into investing- and tax law-related data, I am not a financial professional. I have no formal financial education. I am not a financial advisor, portfolio manager, or accountant. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns.  Money with Katie, LLC.

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• How to Set Yourself Up to Pay No Money in Retirement: https://podcast.moneywithkatie.com/deep-dive-set-yourself-up-to-pay-no-penalties-or-taxes-in-early-retirement/
• How Your Investments are Taxed: https://moneywithkatie.com/blog/how-your-investments-are-taxed

—

Follow Along at Money with Katie: https://moneywithkatie.com/

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Would you rather owe the IRS come tax szn or get a fat refund? There are pros and cons to both, which Katie and Henah walk through—as well as the best way to break even and some tips on properly filling out tax forms.

Listener Note: Katie misspoke in the episode when she said schedule K income and meant to say schedule C income—we hope this helps clarify!

—

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Reminder: While we love diving into investing- and tax law-related data, we are not financial professionals. We have no formal financial education. We are not financial advisors, portfolio managers, or accountants. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns. Money with Katie, LLC.

—

Mentioned in the Episode:

• Money with Katie Tax-Smart Investing Bundle: https://education.morningbrew.com/tax-smart-bundle
• SmartAsset's Federal Income Tax Calculator: https://smartasset.com/taxes/income-taxes
• ChooseFI with the FI Tax Guy, on using your previous tax return to financially plan: https://www.choosefi.com/transform-your-tax-return-into-a-springboard-for-financial-planning-ep-332/

—

Read Money with Katie: https://moneywithkatie.com/

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Why does the wage gap persist, despite both legislation and a cultural shift that encourages women to participate in the workforce with the fervor of a thousand exploding suns? The gap has barely budged over the last decade or two, stagnating somewhere in the low 80% range.

I had to crawl into some objectionable online spaces that are expressly “anti-women” to find out (so you don’t have to!)…and the consensus I found there was dizzying.

I'm also joined by Ellevest's CEO Sallie Krawcheck—and, I have to say, this conversation is a must-listen.

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• Economic historian Claudia Goldin's work: https://podcasts.apple.com/us/podcast/women-at-work/id1336174427?i=1000403279400
• US Bureau of Labor Statistics data on the wage gap: https://www.bls.gov/opub/ted/2022/median-earnings-for-women-in-2021-were-83-1-percent-of-the-median-for-men.htm
• BLS "time use studies": https://www.bls.gov/news.release/pdf/atus.pdf
• Harvard study on the dynamics of the gender wage gap: https://scholar.harvard.edu/files/goldin/files/dynamics_of_the_gender_gap_for_young_professionals_in_the_financial_and_corporate_sectors.pdf
• US News ranking and methodology for countries and gender equality: https://www.usnews.com/news/best-countries/articles/methodology
• Parental leave data from the Organization for Economic Cooperation & Development: https://www.oecd.org/els/soc/PF2_1_Parental_leave_systems.pdf
• BLS employment characteristics from 2022: https://www.bls.gov/news.release/pdf/famee.pdf
• Pew Research on stay-at-home parents in the 1970s: https://www.pewresearch.org/social-trends/2014/04/08/after-decades-of-decline-a-rise-in-stay-at-home-mothers/
• Cosmopolitan essay from Laura Kipnis on why maternal instincts are BS: https://www.cosmopolitan.com/sex-love/a37568/why-maternal-instincts-are-bs/
• 
  

—

Follow Along at Money with Katie: https://moneywithkatie.com/

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One aspiring Rich Girl asked what to keep in mind for long-distance moving—and since Katie and Henah both moved 1,000+ miles in July, they deep-dive into the best tips to keep in mind, "gotchas" to look out for, and their own experiences down to the cost. (Plus, why a relo package or sign-on bonus is a must!)

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• The emotional burden of moving: https://www.instagram.com/p/CvXU5rgsj7j/
• Zillow rep shares why off-peak moving can be better: https://podcast.moneywithkatie.com/how-rent-vs-buy-shifted-in-2023/

—

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There are a few key phrases, online tools, and strategies that are key to unlocking this intentionally opaque industry—so we're going to cover it all today. In a marketplace where some hospitals charge 30x their costs and the insurance company “discounts” do little to help, taking matters into your own hands is often your best bet. 

I'm joined by two medical billing pros, Braden Pan, CEO of Resolve Medical Bills (https://www.resolvemedicalbills.com/) and Jeanne Pinder of ClearHealthCosts (https://clearhealthcosts.com/). Email Jeanne with billing questions at [email protected].

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• Navigating the US Healthcare System Without Getting Financially F***ed: https://podcast.moneywithkatie.com/navigating-the-us-healthcare-system-without-getting-financially-fed/
• Expensive Open Enrollment Mistakes to Avoid: https://podcast.moneywithkatie.com/expensive-open-enrollment-mistakes-to-avoid-making-the-best-of-a-bad-system/
• Getting the most out of your HSA: https://moneywithkatie.com/blog/category/HSAs
• Budgeting for Healthcare in the US: https://moneywithkatie.com/blog/how-im-budgeting-for-healthcare-in-the-united-states-in-the-least-frustrating-way
• The Guide to Lowering Medical Bills from Resolve: https://uploads-ssl.webflow.com/63fe3236566164b208408804/6424c340f953dcf5597b92fa_Resolve_Understanding-Your-Medical-Bills.pdf
• Medical billing errors from Becker's Hospital Review: https://www.beckershospitalreview.com/finance/medical-billing-errors-growing-says-medical-billing-advocates-of-america.html
• Find-A-Code NCCI Edits Validator: https://www.findacode.com/tools/ncci-check.php

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The moratorium on student loan payments will expire starting September 1st, but there's also a new program to be aware of called SAVE. Katie and Henah chat through the new requirements for lower payments, if you should pay off loans more quickly, and a potential hack to get your loans dismissed.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

*We are not licensed financial professionals and this is not financial advice.

—

Mentioned in the Episode:

• SAVE Plan Announcement: https://studentaid.gov/announcements-events/save-plan
• Federal Student Aid Webpage: https://studentaid.gov/
• White House Webpage: https://www.whitehouse.gov/
• Brian's Twitter Thread: https://twitter.com/brianmanookian/status/1674963884703088642

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Today's episode throws it back to a concept I first wrote about several years ago: The Hot Girl Hamster Wheel. It refers to the expensive maintenance that “traditional female beauty ideals” prescribe: haircuts, manis/pedis, spray tans...the list goes on. But why is this never covered in personal finance sector, despite how much these costs add up?

We dig into the numbers, the effects beauty has on our self-esteem and the world around us, and how to do a Hot Girl Detox to reclaim your time (and wallet). I'm joined by Jessica DeFino, a beauty culture critic, author of The Unpublishable (https://jessicadefino.substack.com/), and journalist who's been called "the woman the beauty industry fears."

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• How 'Empowerment' Became Something for Women to Buy by Jia Tolentino, from The New York Times: https://www.nytimes.com/2016/04/17/magazine/how-empowerment-became-something-for-women-to-buy.html
• The average American woman spends $3,756 on her beauty and personal care regimen: https://swnsdigital.com/us/2017/06/women-spend-a-quarter-of-a-million-dollars-on-their-appearance-in-a-lifetime/
• Self-Care Culture is Making Us Broke, with Chelsea Fagan: https://podcast.moneywithkatie.com/self-care-culture-is-making-us-broke-with-chelsea-fagan/
• Studies on "Pretty Privilege": https://scholarworks.smith.edu/cgi/viewcontent.cgi?article=1822&context=theses
• The Age of Instagram Face by Jia Tolentino in The New Yorker: https://www.newyorker.com/culture/decade-in-review/the-age-of-instagram-face

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One reader notes: Back in the 80s and 90s, marketing reached us via malls and television. But today, it's as easy as opening up your phone and having access to 1-click shipping. How has targeted marketing changed our approach to spending, and where can we draw the line?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• Federal Trade Commission's Brief on the Economics of Targeted Advertising: https://www.ftc.gov/system/files/documents/reports/brief-primer-economics-targeted-advertising/economic_issues_paper_-_economics_of_targeted_advertising.pdf
• What is Influencer Marketing & How Does It Target Children? https://www.frontiersin.org/articles/10.3389/fpsyg.2019.02685/full
• Instagram post on financial discipline: https://www.instagram.com/p/CukWobWR9pb/?img_index=1
• Why I'm No Longer Listening to Influencer Suggestions: https://www.thegoodtrade.com/features/social-media-influencers-trust/

—

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We recently did a Rich Girl Roundup on how to talk money with aging parents, and the response for a deep-dive was overwhelming. So, we rounded up the most common questions and brought back Kim Davis from the Bahnsen Group to walk us through everything we need to know for our parents' golden years.

We're pulling together a comprehensive checklist to walk through with your loved ones, and we'll share it in next week's newsletter. Subscribe now so you don't miss it: https://www.morningbrew.com/money-with-katie/subscribe.

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• Rich Girl Roundup: How to Talk Money with Aging Parents: https://podcast.moneywithkatie.com/rich-girl-roundup-how-to-talk-money-with-aging-parents/
• Kim Davis on The Money with Katie Show on Prenups: https://podcast.moneywithkatie.com/to-prenup-or-not-to-prenup-with-the-fiscal-feminist-kim-davis/
• Hybrid Long-Term Care Insurance Policies: https://www.brighthousefinancial.com/education/healthcare-planning-for-retirement/what-is-hybrid-long-term-care-insurance/
• Inflation Riders on Long-Term Care Insurance: https://www.insure.com/long-termcare/inflation-riders.html
• Buying Long-Term Care Insurance in Someone Else's Name: https://www.annuityexpertadvice.com/long-term-care-insurance-for-parents/
• What's Not Covered by Medicare: https://www.medicare.gov/what-medicare-covers/whats-not-covered-by-part-a-part-b
• How to Qualify for Medicaid: https://www.nolo.com/legal-encyclopedia/when-will-medicaid-pay-nursing-home-assisted-living.html
• Will vs. Trust: https://www.investopedia.com/articles/personal-finance/051315/will-vs-trust-difference-between-two.asp
• Guardianship of Younger Children: https://sapientlawgroup.com/estate-planning-attorney-pasadena/designation-of-guardian/
• CCRCs & Senior Living: https://www.continuingcarecommunities.org/assisted-living/california/

—

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Got friends or family interested in investing but don't know where to start or are scared of the risk? Katie and Henah chat through the hesitations they each experienced on their investing journeys, how their own friends empowered them to start, and how they mitigated risk as much as possible.

And a reminder, as always: This is not financial advice, and past performance is not indicative of future returns.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on our Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• How Money Anxiety Can Help Build Wealth: https://podcast.moneywithkatie.com/how-your-money-anxiety-might-actually-help-build-wealth/
• S&P Has Never Lost Money Over 30-Year Periods: https://fourpillarfreedom.com/heres-how-the-sp-500-has-performed-since-1928
• Rationality by Steven Pinker: https://bookshop.org/a/90396/9780525562016
• The Starter Home Myth: https://www.youtube.com/watch?v=hZl_UpgMsPs

—

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The biggest money question we have is usually: How do I enjoy my life now and plan for enjoying it later? If we go too far in either direction, we're sacrificing the quality of our lives at one point or another.

So does the “perfect” save rate exist that optimizes for both now and the future? And if so, what is the ideal percentage of our income to save that would work for most people, most of the time? Here's the number I landed at, and why.

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• Save Rate Spreadsheet [Make a copy!]: https://docs.google.com/spreadsheets/d/1rTlDhv2GGRUczBF_1W0PX_OCxKFNR9ZZp78EKpP2KTc/edit?usp=sharing
• Why Hitting "Half FI" is More Like 75%: https://moneywithkatie.com/blog/why-hitting-half-fi-is-more-like-75
• Money with Katie Wealth Planner with the Financial Independence Calculator: https://moneywithkatie.com/new-2023-wealth-planner

—

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You're out with friends and only order a $10 salad and water. Meanwhile, they each get expensive entrees and drinks. What's the least awkward way to split the bill? And how can we avoid this situation from happening over and over again?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

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The only thing worse than a post-pandemic rental market? A post-pandemic buyer’s market. I sat down with Zillow’s Head of Rentals Communication to talk about how the rental market has evolved over the last three years, and the one variable that might just make buying your home right now worth it. Plus, I share the numbers and rationale behind our own decision to continue renting near Sacramento, California.

What are your considerations when picking a place to live? How are you making the rent vs. buy decision in 2023? Email us at [email protected].

Transcripts can be found at podcast.moneywithkatie.com

—

Mentioned in the Episode

• Rent vs. Buy in a High Interest Rate Environment: https://podcast.moneywithkatie.com/the-rent-vs-buy-decision-in-2022s-interest-rate-environment-and-lofty-market/
• Housing Affordability is at an Historic Low: https://thehill.com/business/3881539-housing-affordability-hits-historic-low/
• Average Closing Costs, per Rocket Mortgage: https://www.rocketmortgage.com/learn/closing-costs
• Average 30-Year Fixed Rate (updated daily): https://www.bankrate.com/mortgages/mortgage-rates/

—

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Does "ethical landlordship" exist, and if so, what does it look like? What are the bigger questions or factors at play here, including the issues with short- vs. long-term rentals, housing policy, and achieving economies of scale?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• 1/5 of homes going to investors: https://www.axios.com/2022/02/18/investors-homes-wealth-families
• The hole in Henah's ceiling: https://ibb.co/f444DJF
• When NYC had more Airbnbs than apartments available: https://www.curbed.com/2022/05/new-york-more-airbnb-listings-apartments-rentals.html
• The Homeownership Society was a Mistake by Jerusalem Demsas: https://www.theatlantic.com/newsletters/archive/2022/12/homeownership-real-estate-investment-renting/672511/
• How San Francisco Makes it Insanely Hard to Build Housing: https://sfstandard.com/2022/09/13/how-san-francisco-makes-it-insanely-hard-to-build-housing/
• Los Angeles' residential segregation: https://www.latimes.com/opinion/story/2021-09-10/racial-covenants-los-angeles-pioneered

—

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If we have access to more convenience than ever before, why does life still feel so frenetic and busy? Achieving a more leisurely pace (and indulgent lifestyle) comes down to a few key choices, it turns out—and fortunately, they don’t need to be expensive.

I chat about romanticizing your life and the European approach to leisure with our guest, Melissa Jean-Baptiste of Millennial in Debt (@millennialindebt), and cover some ways to approach slow living in three key areas of our lives that offer the biggest ROI for happiness.

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Melissa Jean-Baptiste's book, So This Is Why I'm Broke: https://sothisiswhyimbroke.com/
• Kylie Jenner purchasing a Cartier is the same as me proportionally buying a cold brew: https://www.instagram.com/p/CiIF_g3O8Fe/
• Finding & Funding a Good Life, from PWL Capital: https://www.pwlcapital.com/wp-content/uploads/2022/05/2022-04-25_PWL_WP_Felix_Finding_and_Funding_Good_Life_NoImages-2.pdf
• How beautiful spaces affect our health: https://resources.wellcertified.com/articles/why-beautiful-spaces-make-us-healthier/
• The health benefits of living in or near nature: https://www.takingcharge.csh.umn.edu/how-does-nature-impact-our-wellbeing
• Eating in groups makes your food taste better: https://www.foodnavigator.com/Article/2016/02/29/Eating-in-groups-makes-food-taste-better-study-believes

—

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Listener Jamie F. posed the question: "What is deservingness? How does the idea of having 'earned it' play into our perceptions of other people's wealth versus those who we deem unworthy of their success?"

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode

• Nick Maggiulli on luck and investment results: https://ofdollarsanddata.com/bad-investment-results-your-birth-year-may-be-to-blame/

—

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Ignore the advice to buy and hold at your own peril. This research-rich deep dive unpacks the ways in which your biggest investing hurdle…is yourself (and 3 tangible tactics for overcoming!).

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Money with Katie on how the average 10% might not happen in the future due to overpriced assets: https://moneywithkatie.com/blog/why-do-people-say-stocks-are-overvalued-right-now
• Dalbar's Quantitative Analysis of Investor Behavior: https://wealthwatchadvisors.com/wp-content/uploads/2020/03/QAIB_PremiumEdition2020_WWA.pdf
• Money with Katie 2023 Wealth Planner: https://moneywithkatie.com/new-2023-wealth-planner
• How to Diversify Outside of the Total Stock Market: https://podcast.moneywithkatie.com/how-to-construct-a-diversified-stock-portfolio-of-major-index-funds/
• Why You Shouldn't Try to Time The Market: https://moneywithkatie.com/blog/why-you-shouldnt-try-to-time-the-market
• JP Morgan Asset Management Analysis Graph on Impact of Being Out of the Market: https://am.jpmorgan.com/us/en/asset-management/adv/insights/retirement-insights/guide-to-retirement/guide-to-retirement-slides/guide-to-retirement-investing/gtr-impact/

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How do I transition my long-term brokerage account to a shorter-term savings goal, like a house? That’s the question we’re unpacking on this week’s episode of Rich Girl Roundup. I even called in the big guns (a friend who happens to be a CFP and wealth manager) to weigh in.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

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One in six people globally is affected by infertility—and that means getting pregnant can be expensive. Today, we'll talk about the different types of fertility treatments available like IUI and IVF, how to budget for those costs, and some of the ethical implications of the topic at large.

We'll also be joined by Arielle Bogorad, the SVP of Employer Market Strategy at Progyny, an organization offering comprehensive fertility and family building benefits to more than 5M people across the United States. She'll share more on how to navigate the US healthcare system, what to ask your insurance providers, and how we can advocate for inclusive coverage at a policy level.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• 1 in 6 people affected by infertility globally: https://www.who.int/news/item/04-04-2023-1-in-6-people-globally-affected-by-infertility
• Fertility treatment coverage in 2023: https://www.kff.org/womens-health-policy/issue-brief/coverage-and-use-of-fertility-services-in-the-u-s/
• 80% of patients who've undergone fertility treatments say it's negatively impacted their finances: https://www.lendingtree.com/personal/fertility-treatments-survey
• 2011 survey on fertility treatment costs: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3043157/
• The cost of IUI, per FertilityIQ: https://www.fertilityiq.com/iui-or-artificial-insemination/the-cost-of-iui#components-of-iui-cycle-cost
• The costs of fertility treatments today, per Forbes Health: https://www.forbes.com/health/family/how-much-does-ivf-cost/
• Stats on adoption from the Department of Health and Human Services: https://www.ccainstitute.org/resources/fact-sheets
• The costs of adoption, per Nerdwallet: https://www.nerdwallet.com/article/finance/adoption-cost
• Resolve.org from the National Infertility Association: https://resolve.org/take-action/our-issues/
• Fertility treatment grants: https://resolve.org/learn/financial-resources-for-family-building/fertility-treatment-scholarships-and-grants/
• IVF lotteries: https://www.verywellfamily.com/how-to-enter-an-ivf-contest-or-lottery-1960052
• Family building loans and financing plans: https://resolve.org/learn/financial-resources-for-family-building/financing-programs-for-fertility-treatment/
• Shared risk IVF clinics: https://bundlfertility.com/blog/how-shared-risk-ivf-makes-fertility-care-affordable/
• Aura Finance x Noula event on fertility and pregnancy: https://www.youtube.com/watch?v=6GugaVKAwg0
• Setting up for medium-term goals: https://podcast.moneywithkatie.com/how-to-set-up-money-management-systems-for-short-term-long-term-goals/

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We spend nearly a third of our days at work, and our benefits there—like access to retirement accounts and time off—affect our personal lives, too. What are the most valuable and worthwhile benefits? Henah and Katie chat through their beef with unlimited PTO as well as their perspectives on living-wage salaries, profit sharing plans, and on-site childcare.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

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Mr. Beast might make $50M a year...but how much does the average influencer earn? Which platform lends itself most readily to monetization? And how have some influencers scaled to eight-figure, long-lasting businesses—like our guest, Thomas Frank with 3M subscribers—while others flame out in 18 months? We answer all of these juicy questions and dive into the hard numbers.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Thomas Frank on YouTube: https://www.youtube.com/channel/UCG-KntY7aVnIGXYEBQvmBAQ
• The value of the creator economy: https://influencermarketinghub.com/ebooks/Creator_Economy_-_Creator%20Earnings_Benchmark_2021.pdf
• 1 in 4 Gen Zers plan to become content creators: https://thehill.com/changing-america/enrichment/arts-culture/3614182-1-in-4-gen-z-ers-plan-to-become-social-media-influencers/
• Neal Schaffer on The Age of Influence: https://nealschaffer.com/influencer-marketing-statistics/
• 89% of advertisers found influencer marketing to be at least as effective as other methods: https://www.smartinsights.com/online-pr/influencer-marketing-effectiveness/
• Blogilates case study: https://www.instagram.com/blogilates/?hl=en
• Mr. Beast case study: https://www.thoughtleaders.io/blog/how-much-does-mrbeast-spend-a-month
• Nick Huber case study: https://www.mfmpod.com/127-with-nick-huber-building-a-10m-self-storage-business-and-the-opportunities-in-sweaty-startups/
• Melissa Wood Tepperberg case study: https://www.hbs.edu/faculty/Pages/item.aspx?num=60307
• Thomas Frank's creator resources: https://creator.thomasjfrank.com/

—

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What even is a pension? How can it affect my savings goals for retirement? And is it really guaranteed?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• Last week's RGR on CDs: https://link.chtbl.com/7ClqMm2w
• The 10 Biggest Failed Pension Plans: https://money.usnews.com/money/blogs/planning-to-retire/2010/08/23/the-10-biggest-failed-pension-plans
• A 2023 example of failed pension plans: https://www.usnews.com/news/business/articles/2023-03-21/public-pension-plan-losses-from-bank-failures-were-minor

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Yes, I did spend that much money on my dog, Georgia aka Beans. But before you jump to conclusions, it was one of those medical “one thing after another” descents into the pits of budgetary (and emotional) hell. Would pet insurance have helped? The short answer is…kind of, but it’s complicated. 

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Pet insurance stats from MarketWatch: https://www.marketwatch.com/guides/insurance-services/pet-insurance-facts-and-statistics
• How much does pet insurance cost by breed, from MarketWatch: https://www.marketwatch.com/guides/insurance-services/pet-insurance-cost/
• Average pet insurance claim: https://www.benefitspro.com/2018/05/02/5-most-common-and-5-most-expensive-pet-insurance-claims

—

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To CD, or not to CD…that is the question Henah and I are breaking down this week. When yields are 5% (or higher!) in safe financial instruments like certificates of deposit, what’s the case against fleeing to safety? (Hint: The NASDAQ is up 27% YTD, and the S&P 500 is popping off at nearly 12% YTD.)

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• Why I Bonds Can Be A Distraction: https://www.youtube.com/watch?v=3LevWqIdvig

—

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As a society, we now pit "anti-work" against "grindset mentality"—but we might actually be in a stage of self-defeating overcorrections at this point, including questionable trends like TradLife and Stay at Home Girlfriend Tok.

In this week's episode, we cover the pros and cons of both hustle culture and quiet quitting, how employee stock ownership programs might help, and what a better balance between the two might be.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, CFA Institute: https://www.cfainstitute.org/en/programs/cfa

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Learn more about Betterment: http://www.betterment.com/moneywithkatie

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Range by David Epstein: https://bookshop.org/a/90396/9780735214507
• "The Secret to Conventional Success We Don't Talk About": https://moneywithkatie.com/blog/conventional-success-secrets
• "On Meaningless Careers" by Jack Raines: https://www.youngmoney.co/p/meaningless-careers
• "Gen Z Does Not Dream of Labor" from Vox: https://www.vox.com/the-highlight/22977663/gen-z-antiwork-capitalism
• Wealth inequality in the 2010s: https://news.yahoo.com/super-richs-wealth-concentration-surpasses-gilded-age-levels-210802327.html
• Laura Pitcher in Vice: https://i-d.vice.com/en/article/93a3we/slow-living-tiktok-trend
• Zoe Hu in Dissent Magazine: https://www.dissentmagazine.org/article/the-agoraphobic-fantasy-of-tradlife
• Chelsea Fagan on "Quiet Quitting": https://www.youtube.com/watch?v=oh9CRz2dk-Q&ab_channel=TheFinancialDiet
• Haley Nahman on Not Caring About Your Work: https://haleynahman.substack.com/p/145-not-caring-about-your-job-freedom
• Kim Jordan of New Belgium Brewing and their employee stock ownership program: https://www.inc.com/magazine/202009/graham-winfrey/new-belgium-brewing-kim-jordan-esop-b-corp-acquisition-exit.html

—

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One listener writes in that her retirement accounts haven't really grown over the past few years—so what's a Rich Girl to do?

Katie and Henah chat through the last several years of returns and the economy, what to watch out for, and actions to consider for better results.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• Portfolio Visualizer: https://www.portfoliovisualizer.com/

—

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How can money make your life better? More fulfilling? Happier?

To answer the question, I invited a very special guest on the show: the one and only Ramit Sethi, of How to Get Rich of Netflix fame. (And, of course, his bestseller, I Will Teach You to be Rich.)

We discuss everything from business to personal finance philosophy to why he’s not afraid to be outspoken online. Plus, he shares helpful tips on seeing money as an opportunity, how to spend and not just save, and more. I love all my guests, but…this interview is up there for me.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Learn more about the CFA Institute: https://www.cfainstitute.org/en/programs/cfa

Learn more about Betterment: http://www.betterment.com/moneywithkatie

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• I Will Teach You to be Rich: https://bookshop.org/a/90396/9781523505746
• How to Get Rich on Netflix: https://www.netflix.com/title/81410436

—

Follow Along at Money with Katie: https://moneywithkatie.com/

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Our episode on the myth self-made millionaires (linked below) stirred up quite the conversation online—Katie and Henah chat through a few listener critiques that were sent in response. What do you think?

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

—

Mentioned in the Episode:

• "Are Most Millionaires Actually Self-Made?": https://link.chtbl.com/4Cx-Hbo_
• Why Are We Obsessed with Rich People Who Drive Old Cars? https://moneywithkatie.com/blog/why-are-we-obsessed-with-rich-people-with-old-cars

—

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Today, we're breaking down every. single. aspect. worth considering when you’re deciding between Traditional and Roth contributions in your 401(k), because making the “right choice” can mean a difference of hundreds of thousands of dollars in a few decades.

So, what’s a Rich Girl to do when faced with a slew of retirement plan options and a dream? By the end of this episode, you’ll feel confident in your choice.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Learn more about the CFA Institute: https://www.cfainstitute.org/en/programs/cfa

Learn more about Betterment: http://www.betterment.com/moneywithkatie

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• How to Pay No Taxes in Early Retirement: https://link.chtbl.com/9nugZS3C
• Traditional vs. Roth breakdown: https://docs.google.com/spreadsheets/d/1pDXtuOBV5o_hyxVvlIzienhKbuE0ajGaj8mvPWGBOGM/edit#gid=0

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Sometimes we all need a little nudge to make the best financial decisions for ourselves. In this week's episode, Henah recounts how Katie helped her max out her 401(k) contributions, overcome her psychological hangups about "making less per paycheck," and how she's feeling about it now.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

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Rich Girl Taylor Kay Phillips is spilling all the tea on the Hollywood writers' strike—and giving us the inside scoop on a career in writing for television. We also cover the broader implications of negotiating for a fair wage, including a few tactics to try when you're exploring a dream job.

For more negotiation tips:

• Check out this week's blog post for tactics specific to salaried workers: https://moneywithkatie.com/blog/salary-negotiation-tactics-for-increasing-income
• Check out this week's YouTube video, where we unpack the tactics mentioned in this episode in more detail: https://www.youtube.com/watch?v=FQDcsgLCfUg

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Learn more about our sponsor, Betterment: http://www.betterment.com/moneywithkatie

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• The Writers' Strike Deadline Is Here, from The Town with Matthew Belloni: https://podcasts.apple.com/us/podcast/the-town-with-matthew-belloni/id1612131897?i=1000611351559
• The 2007 writers' strike and the economic impact: https://www.vox.com/culture/23696617/writers-strike-wga-2023-explained-residuals-streaming-ai
• Zendaya's salary negotiation for Euphoria: https://www.gq.com/story/zendaya-euphoria-season-3-one-million-dollars-per-episode-salary

—

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Join us this week for a frank discussion about the things we wish we wouldn't have bought—and the stuff we wish we would've spent more on.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

-

Mentioned in the Episode

• The Money with Katie Show: Is Pet Insurance Worth it?: https://youtu.be/co9b8Vh_Rfs
• How to Travel for Free in 2023: https://podcast.moneywithkatie.com/how-to-travel-for-free-in-2023/

-

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I’m so proud of the work the team did to develop and produce this episode. Typical personal finance advice works particularly well for people in a certain position (with good salaries, education, or inheritances), but it’s mostly useless if you’re not earning enough to make ends meet. To make matters more complex, the way some government assistance programs currently work can paradoxically make it harder to get ahead in the long term.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Learn more about The CFA Institute: https://www.cfainstitute.org/en/programs/cfa

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Oxfam America Study on the Low-Wage Workforce: https://www.brookings.edu/research/meet-the-low-wage-workforce/
• Women’s workforce participation: https://www.brookings.edu/wp-content/uploads/2022/03/SP22_BPEA_Goldin_conf-draft.pdf
• 97% of US Child Care workers are women: https://finance.yahoo.com/news/child-care-challenges-women-workforce-131402101.html
• Center for American Progress on Childcare Deserts: https://childcaredeserts.org/2018/
• Video Clip from Netflix series Maid: https://youtu.be/vM30cS-NZZU
• Julie’s Family Learning Program: https://www.juliesfamily.org/our-founding-history/
• Multnomah County Preschool for All Program: https://www.multco.us/finance/multnomah-county-preschool-all-personal-income-tax#
• The Oregonian on the importance of attending pre kindergarten: https://www.oregonlive.com/education/2022/12/free-preschool-delayed-for-thousands-of-oregon-children-due-in-part-to-staffing-shortages.html
• Full Department of Treasury Report on Childcare: https://home.treasury.gov/system/files/136/The-Economics-of-Childcare-Supply-09-14-final.pdf

—

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What advice would we go back and tell ourselves in our early 20s, and how has our perspective on money changed as we approach our 30s? Katie and Henah chat through 10 tips they'd share, from intimately understanding your spending to prioritizing experiences to saving for childcare costs long-term.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

-

Mentioned in the Episode

• The importance of starting to save early for retirement: https://moneywithkatie.com/blog/more-money-retirement-financial-literacy
• Consumption theory: https://www.britannica.com/topic/consumption/Consumption-theory

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CARDS MENTIONED IN THIS EPISODE, IN ORDER: http://www.moneywithkatie.com/2023travel

If you’ve ever wanted to take a more intentional approach to your credit cards and travel (or just tune up an existing approach!), this week’s episode is a must-listen. 

File “travel rewards” under the “sounds too good to be true but isn’t” category, with the major caveat that it’s a little like playing with fire: As long as your spending habits aren’t flammable, you stand to gain a lot.

We called in travel rewards pro Benét Wilson—former Senior Cards Editor at The Points Guy and freelance aviation journalist—to weigh in and pressure-test our Money with Katie strategy, because this landscape is always changing—and the episode made me realize there’s at least one hotel card I need to consider adding to my wallet lineup.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Learn more about The CFA Institute: https://www.cfainstitute.org/en/programs/cfa

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Money with Katie's 2023 Travel Rewards Strategy: http://www.moneywithkatie.com/2023travel
• How to Travel For Free 101 Series: https://www.morningbrew.com/money-with-katie/subscribe/travel-rewards-101
• The Points Guy's 10 Commandments of Credit Card Rewards: https://thepointsguy.com/guide/ten-credit-card-commandments/amp/
• Rich Girl Roundup on how credit works: https://link.chtbl.com/QXmxdYU_
• How TPG staffers track their credit card miles/points: https://thepointsguy.com/guide/tpg-strategies-track-points-miles-cards/amp/
• Chase 5/24 rule: https://thepointsguy.com/guide/ultimate-guide-chase-5-24-rule/
• Chase Sapphire sign-up bonus: https://financebuzz.com/chase-sapphire-48-month-rule
• How to redeem points: https://thepointsguy.com/credit-cards/airlines/beginners/
• Cash or points for travel? Here's how to decide: https://moneywithkatie.com/blog/cash-or-points-for-travel
• The Points Guy calculator: https://thepointsguy.com/calculator/
• Chase transfer partners (as of April 2023): https://www.nerdwallet.com/article/travel/chase-transfer-partners-guide
• American Express transfer partners (as of April 2023): https://thepointsguy.com/guide/membership-rewards-partner-guide/

—

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Whether you receive an inheritance or win the lottery, they can both be treated like receiving new income. Katie and Henah chat through what they would do with a big lump sum, including paying off debts, investing in experiences and companies, and if Katie would continue to rent. 👀

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

-

Mentioned in the Episode

• Inheritance taxes: https://turbotax.intuit.com/tax-tips/estates/what-are-inheritance-taxes/L93IUc3sC
• Estate taxes: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
• Treading lightly on unexpected income: https://podcast.moneywithkatie.com/how-to-deal-with-unexpected-expenses/

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“Dude, why is being alive so expensive?”—an actual sentence I said aloud to Henah back in January when my dog needed surgery, my husband and I got a giant tax bill, Henah’s travel insurance wouldn’t come through, and a formerly in-network doctor informed her she owed them a large sum since they were now (surprise!) out-of-network. (USA! USA!)

One of the rudest awakenings of adulthood is the realization that simply paying for the boring stuff eats up a lot of your income, which can be incredibly demoralizing when you’re trying to make progress.

So which tactics (both financial and psychological) can help you plan for the mundane or unexpected? Will this ever stop, or do your financial problems just scale proportionally with your net worth?

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off.

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Money with Katie blog, "Being Poor is Expensive": https://moneywithkatie.com/blog/the-paradox-of-riches-being-poor-is-expensive
• Preventive care services in the US: https://www.healthcare.gov/coverage/preventive-care-benefits/

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A listener asks, "How can I plan for my parents' later years in life, and how can I start that conversation?" Katie and Henah reflect on conversations they've had with their own families, what to do (hint: prep a life audit!), and caveats to consider. (And, if you want us to go into this topic more in-depth, email us at [email protected]!)

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

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Mentioned in the Episode

• 92% of Americans say it's important to discuss wishes for end-of-life care, but only 32% of had the conversation, per The Conversation Project: https://theconversationproject.org/about/
• Where to start with end-of-life planning with loved ones: https://www.vox.com/even-better/23378958/end-of-life-planning-elders-parents-grandparents-loved-ones

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When Amazon Prime dropped the LuLaRich documentary in 2021, it was one of the first times the population at large got to peek behind the curtain at one of the largest multilevel marketing companies in the world—and boy, did it take internet voyeurs by storm.

The timing of (and snark generated by) such an explosive exposé was especially interesting, given the other pyramid scheme-y thing playing out in 2022: NFTs, shitcoins, and meme stocks.

It feels like we should’ve learned our collective lesson by now—but are the get-rich-quick schemes that plague our DMs and Twitter feeds evolving faster than we are? What’s a Boss Babe to do?

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off.

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• Amanda Montell's Cultish: https://bookshop.org/a/90396/9780062993151
• LuLaRich: https://www.amazon.com/LuLaRich-Season-1/dp/B09CFXPNSX
• LuLaRich trailer: https://www.youtube.com/watch?v=mIkcrQzTr8w&ab_channel=AmazonPrimeVideoUK
• How LuLaRoe worked: https://www.youtube.com/watch?v=4411N0nAELY&ab_channel=AmazonPrimeVideoUK
• The Sam Dee on YouTube, sharing their experience as a LuLaRoe retailer: https://www.youtube.com/watch?v=u-TO2-d10S0&ab_channel=TheSamDee
• The Dream podcast: https://podcasts.apple.com/us/podcast/s1-e1-wanna-swim-in-cash/id1435743296?i=1000420324159
• The Airplane Game from the 1980s: https://apnews.com/article/7894d03521da555b7ea45e6f78323fbb
• "Blessing Loom" scam alert: https://www.bbb.org/article/news-releases/22255-bbb-scam-alert-easy-money-blessing-loom-nope-pyramid-scheme
• Benjamin M. Friedman's Religion and the Rise of Capitalism: https://bookshop.org/a/90396/9780593311097
• Protestant ethic, per the Encyclopedia Britannica: https://www.britannica.com/topic/Protestant-ethic
• James Jani on YouTube, sharing about the prosperity gospel: https://www.youtube.com/watch?v=hTfKpAWkgJY&t=771s&ab_channel=JamesJani

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Understanding credit can be tricky—but it's an invaluable part of our financial toolboxes since it affects our ability to buy a home, access loans, etc. Katie and Henah break down the history of credit, how it works, tips to keep in mind while building your credit score, and more.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

-

Mentioned in the Episode

• Consumer Finance statistic on 26M Americans being credit invisible: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-finds-26-million-consumers-are-credit-invisible/
• How Your Credit is Calculated: https://www.equifax.com/personal/education/credit/score/how-is-credit-score-calculated/
• Annual Credit Report: https://www.annualcreditreport.com/index.action
• Credit Karma: https://creditkarma.com/
• How to Save for Your Child's Future: https://link.chtbl.com/u7JzWqOz

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Bill Bengen, who established the 4% safe maximum withdrawal rate (the rule on which most of financial planning relies), is a straight shooter, and his perspective on whether or not we’re currently in uncharted waters surprised me.

But fear not—there’s a little-discussed element of planning for early (as well as regular!) retirement that might be our saving grace. We’ll unpack that, too.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• The 4% Rule by Bill Bengen: https://www.retailinvestor.org/pdf/Bengen1.pdf
• Our previous episode on the 4% Rule: https://podcast.moneywithkatie.com/the-most-dangerous-misconceptions-about-the-4-safe-withdrawal-rate/

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Whether it's for tuition expenses or weekly allowances, Katie and Henah chat through short-, middle-, and long-term strategies on saving for your children's future, including the 529, Roth IRA, and UGMA/UTMA for minors.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

-

Mentioned in the Episode

• Previous RGR on Teaching Kids About Money: https://youtu.be/Y2Y-cOAKBuM
• Best Debit & Credit Cards for Kids (updated monthly): https://www.businessinsider.com/personal-finance/best-debit-card-for-kids
• The 529 (Qualified Tuition Programs): https://www.irs.gov/taxtopics/tc313
• UTMA & UGMA for Minors: https://www.nerdwallet.com/article/investing/utma-ugma

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“Luck” is where opportunity meets preparation, right? Fantastic financial outcomes are the culmination of a lot of factors coalescing in a very specific way, but we tend to only focus on one: effort.

So much American lore (and by extension, American…personal finance advice?) is constructed on the foundation of the self-made meritocracy. 

One such “statistic” that often gets touted in these conversations: Somewhere in the ballpark of 88% of US millionaires are “self-made.” But where does that figure come from? How was it determined? And where do its implications fall dangerously short?

We chat with Shannon McNamara, host of the Fluently Forward podcast, all about it.

Learn more about our sponsor, Vin Social: https://www.vinsocial.vip

Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie

Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• The Fluently Forward podcast: https://podcasts.apple.com/mk/podcast/fluentlyforward/id1589952385
• Here's How 9 Billionaires Start Their Mornings, per Insider: https://www.businessinsider.com/billionaire-morning-routine-mornings-oprah-zuckerberg-bezos-musk-buffett-gates-2019-1
• A History of Hating the Rich for the Saturday Evening Post: https://www.saturdayeveningpost.com/2020/02/a-history-of-hating-the-rich/
• "88% of all millionaires are self-made," per US News: https://money.usnews.com/money/blogs/on-retirement/articles/7-myths-about-millionaires
• 2017 Fidelity Investments Study: https://institutional.fidelity.com/app/proxy/content?literatureURL=/9884619.PDF
• The National Study of Millionaires from Ramsey Solutions: https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research
• US Bureau of Labor Statistics on inheritances: https://www.bls.gov/osmr/research-papers/2011/pdf/ec110030.pdf
• Hailey Baldwin Bieber on the Forbes 30 Under 30: https://people.com/style/hailey-bieber-lands-cover-of-forbes-30-under-30/
• Kendall Jenner on work: https://www.refinery29.com/en-us/2018/08/207820/kendall-jenner-modeling-comments-response
• Kendall Jenner on "having to fly all over Europe:" https://www.the-sun.com/entertainment/6416481/kendall-jenner-kardashian-out-touch-delusional-modeling-career/
• Elon Musk on now-deleted Forbes article on his father's emerald mine: https://web.archive.org/web/20140802011449/http://www.forbes.com/sites/jimclash/2014/07/28/elon-musk-tells-me-his-secret-of-success-hint-it-aint-about-the-money/
• 90% of millionaires are male: https://www.verdict.co.uk/90-percent-millionaires-male/
• 8 Ways Rich People View the World Differently: https://www.cnbc.com/2016/10/11/8-ways-rich-people-view-the-world-differently-than-the-average-person.html

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One reader asks when is going to "off-brand" providers worth it (i.e., switching to Mint Mobile from a legacy provider, as Katie has). Katie and Henah chat through what to look for instead, what's worth keeping "on brand" for, and their own real life examples (Louis Vuitton vs. Coach, All Clad vs. DTC cookware brands, etc.).

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

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In a hyper-individualistic culture, it can feel like all the important parts of your life are at odds with one another: You may want to socialize regularly, spend time with family, save money, crush it at work, and exercise frequently, but as that one quippy girlboss coffee mug slogan reminds us: There are only 24 hours in the day (and something about Beyoncé). 

What’s an ambitious person to do, especially when the overwhelm of big goals makes you want to throw in the towel, melt into a Netflix puddle, and nap? There’s only one sustainable solution: integration.

Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• New Year Annual Review: https://docs.google.com/document/d/1K2P_yL1Ah976P7MLicb55wgY2DY-39jP3Lvp810H6HQ/edit
• Nat Eliason on De-Atomization: https://blog.nateliason.com/p/de-atomization-is-the-secret-to-happiness
• Statistic on Single-Person Households in the US: https://www.statista.com/statistics/242022/number-of-single-person-households-in-the-us/

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Katie's husband Thomas has been an active-duty US Air Force JAG since 2021, and we've received many questions over the years about military benefits and finances. Here's the TL;DR on the perks of being active-duty military or a dependent based on Katie's personal experience, from accessing VA loans to basic allowances for housing.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Learn more about our sponsor, Betterment: https://betterment.com/moneywithkatie

-

Mentioned in the Episode

• Military Benefits for Active Duty and Veterans: https://www.benefits.gov/categories/Military%3A%20Active%20Duty%20and%20Veterans
• VA Loan: https://www.va.gov/housing-assistance/home-loans/eligibility
• VA Home Loan Process Checklist (Page 9): https://www.benefits.va.gov/HOMELOANS/documents/docs/VA_Buyers_Guide.pdf
• The Reluctant Landlord: https://www.reluctantlandlord.net/
• Military Pay & Pensions: https://www.usa.gov/military-pay
• Thrift Savings Plan: https://www.dfas.mil/civilianemployees/employeebenefits/TSP/
• Basic Allowances & Military Income: https://militarypay.defense.gov/pay/
• Military Taxes & Residency: hrblock.com/tax-center/lifestyle/military/military-taxes-and-residency/
• Military Health Insurance (TRICARE): https://www.tricare.mil/
• Credit Card Benefits: https://www.americanexpress.com/us/help-support/service-members-civil-relief/

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If you think you may be affected by a potential recession or upcoming layoff, we’re running through the best tips on navigating this uncertainty—from figuring out your cash “runway” to understanding your rights as an employee.

Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.

Learn more about our sponsor, Betterment: https://betterment.com/moneywithkatie

Learn more about our sponsor, HOKA, and shop now for the HOKA Clifton 9: https://www.hoka.com/en/us/

-

Mentioned in the Episode

• Financial Steps to Take If You Fear You May Lose Your Job: https://moneywithkatie.com/blog/prepare-for-losing-job-how-to
• Severance negotiation: https://www.fastcompany.com/90723978/you-have-more-power-than-you-think-when-negotiating-a-severance-package
• Financial karma and constructive paranoia: https://podcast.moneywithkatie.com/financial-karma-and-the-fall-of-the-fintwit-bro-empire-must-see-lessons-about-constructive-paranoia/

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It’s estimated that one in every four American 20-year-olds today will experience a disability before they turn 67, but a whopping 65% of workers in the private sector don’t carry long-term disability insurance (per our pals at the Social Security Administration). 

This week, I’m joined by two Rich Girls who are sharing their stories about the little-known financial implications of experiencing a disability unexpectedly—and early in life.

Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie

Transcripts can be found at podcast.moneywithkatie.com.

—

Mentioned in the Episode

• The Inclusive Traveler Instagram: https://www.instagram.com/theinclusivetraveler/
• 1 in 4 adults in the US live with a disability: https://www.cdc.gov/ncbddd/disabilityandhealth/infographic-disability-impacts-all.html
• Healthcare blog posts on Money with Katie: https://moneywithkatie.com/blog/category/healthcare

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