Everyday Wealth

When most people think of retirement, they think of slowing down. But it doesn’t have to be this way. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean talks with Michael Clinton, author of ROAR: into the second half of your life (Before It’s Too Late), about how to re-imagine retirement and make the most of it. Later in the episode, wealth planner Isabel Barrow joins the show to discuss what to consider when you change jobs later in life. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky receives cash compensation for acting as host of the Everyday Wealth radio show and podcast and for related activities and therefore has an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show).See omnystudio.com/listener for privacy information.

Retirement security has long been a top concern for this country. This past December, Congress passed the SECURE 2.0 Act, which contains a number of ways for Americans to save more for their retirement. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean is joined by wealth planner Andy Smith and Dr. Wei Hu, vice president of financial research for Edelman Financial Engines, to discuss retirement security opportunities and how they may help you save more for retirement, wait longer to take distributions, and even possibly utilize some tax-smart strategies. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky receives cash compensation for acting as host of the Everyday Wealth radio show and podcast and for related activities and therefore has an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). The information regarding estate planning should not be construed as tax or legal advice and is for general informational purposes only. Neither Edelman Financial Engines nor its affiliates sell insurance products or offer tax or legal advice. Interested parties are strongly encouraged to include your qualified insurance, tax and/or legal professionals in these discussions and decisions to help determine the best options for your particular circumstances. Edelman Financial Engines affiliates may receive insurance-related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties.See omnystudio.com/listener for privacy information.

As markets continue their bumpy ride, some investors are looking to make back losses during the potential upswings – possibly taking on some excessive risk. In this episode of Everyday Wealth™, Jean Chatzky is joined by wealth planner Andy Smith to discuss the differences between speculation and investing, and how a wealth planner can help mitigate your risks. They also discuss whether it’s better to lease or buy a car in the current economy, and later in the episode, Dr. Wei Hu, vice president of financial research at Edelman Financial Engines, joins Jean and Andy for Investing Sense, where they talk about mental reference points that impact investing. Originally posted 08-20-22 This show is pre-recorded, and any callers are prescreened. Ms. Chatzky receives cash compensation for acting as host of the Everyday Wealth radio show and podcast and for related activities and therefore has an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results. Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low-price levels. An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. See omnystudio.com/listener for privacy information.

As home prices and interest rates traveled through the roof this past year, many people want to know where the real estate housing market is headed next. This week on Edelman Financial Engines’ Everyday Wealth™, Jean is joined by economist Mark Zandi from Moody’s Analytics to do a deep dive on the housing market and to discuss what it will take for homebuying to feel manageable again. Later in the episode, Edelman Financial Engines wealth planner John McCafferty joins the conversation to talk about what a homebuyer should consider doing now and if renting might be a better idea. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky receives cash compensation for acting as host of the Everyday Wealth radio show and podcast and for related activities and therefore has an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show).See omnystudio.com/listener for privacy information.

When you’re starting a small business or a side gig, there are many important factors to consider in order to help make it a success. This week on Edelman Financial Engines’ Everyday Wealth™, Jean is joined by Edelman Financial Engines wealth planner Andy Smith as she shares her journey from side gigs to becoming a small-business owner and what she learned along the way. Later in the episode, Rich Lahijani a director, tax advisory and planning at Edelman Financial Engines, joins the conversation to talk about tax considerations, including what you typically can and can’t write off when you’re starting a small business or side gig. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky receives cash compensation for acting as host of the Everyday Wealth radio show and podcast and for related activities and therefore has an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to include your qualified tax and/or legal professionals in these discussions and decisions to help determine the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

It’s a new year, which also means it’s time for New Year’s resolutions and according to a recent survey, for 66% of Americans, the resolutions they made were financial. This week on Edelman Financial Engines’ Everyday Wealth™, Jean is joined by Sarah Newcomb, director of financial psychology at Morningstar, to talk about making financial New Year’s resolutions and how to stay on track when your will is tested. Later in the episode, Edelman Financial Engines wealth planner Isabel Barrow joins Jean to provide some key areas that you may want to focus on that can help you with building wealth in this new year. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky receives cash compensation for acting as host of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to include your qualified tax and/or legal professionals in these discussions and decisions to help determine the best options for your particular circumstances. See omnystudio.com/listener for privacy information.

In this episode of Edelman Financial Engines' Everyday Wealth, Soledad O’Brien and Jean Chatzky are joined by Nora Super, the executive director of the Milken Institute Center for the Future of Aging, to discuss the link between healthy longevity and financial wellness. Later in the episode, Edelman Financial Engines wealth planner Jason Cowans joins Jean and Soledad to continue the theme of aging, with discussions on planning for future health-care costs and living trusts. Originally posted 4-8-22 This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal professionals regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

For most people, 2022 has been a perfect storm of high inflation, aggressive rate hikes, volatile markets, worries of recession… and just about everything else that makes investors run for the hills. This week on Edelman Financial Engines’ Everyday Wealth™, Soledad, Jean and wealth planner Andy Smith will put the markets into context, and – hopefully – provide a bit of perspective about what we’re experiencing right now in the economy. Later in the episode, the hosts discuss two types of investors – those who chase returns and those who work toward a clear set of goals, and why one typically leads to better outcomes. They’ll also explore what to do at different stages and phases of life to help protect your wealth. Originally posted 11-12-22 This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal professionals regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

With so many priorities competing for our attention, it’s easy to overlook opportunities that come up this time of the year that can help with your financial plan. This week on Edelman Financial Engines’ Everyday Wealth™, wealth planner Jason Cowans joins Jean and Soledad to review a few important financial steps you can consider taking before ringing in the new year. Also in this episode, when a loved one passes away, financial decisions can often make the grieving process even more challenging. The hosts discuss the emotional and financial aspects of losing someone you love, and steps you can take to help make the process a little easier. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines (EFE) and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither EFE nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to include your qualified tax and/or legal professionals in these discussions and decisions to help determine the best options for your particular circumstances. With regard to your employer-sponsored benefits, please refer to your company plan documents for the information that pertains to your situation. Neither EFE nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to include your qualified tax and/or legal professionals in these discussions and decisions to help determine the best options for your situation. Neither EFE nor any of its planners sell insurance products. EFE affiliates may receive insurance-related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties. You are encouraged to include your insurance agent or broker in these discussions and decisions to help determine the best options for you situation.See omnystudio.com/listener for privacy information.

We’re quickly approaching the holiday season, which means time for family, friends, shopping … and scams. According to the FBI, every year, thousands of people become victims of holiday scams, which can rob you of hard-earned money, personal information and your festive mood. This week on Edelman Financial Engines’ Everyday Wealth™, Jean, Soledad and wealth planner John McCafferty talk about the different scams to be aware of and how to help protect yourself against them. Later in the episode, since it’s near year-end and many people have questions about minimizing potential tax liability, the hosts and wealth planner Isabel Barrow take a call from listener Bernie, who has a question about using a Qualified Charitable Donation to his alma mater. Then, it’s the season for gift giving, and Soledad, Jean and Edelman Financial Engines planner Jason Cowans discuss how your holiday purchases can serve a bigger purpose – specifically, with gifts that support charities or help a loved one with important financial goals. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to include your qualified tax and/or legal professionals in these discussions and decisions to help determine the best options for your particular circumstances. Hypothetical illustrations described are meant to demonstrate the principle of compound interest and are not representative of past or future results of any specific investment vehicle.See omnystudio.com/listener for privacy information.

According to a recent industry survey, Americans today think they’ll need roughly $1.25 million to retire comfortably. But the average amount of savings in retirement accounts has actually dropped by 11% over the same time frame. So how much do you need to retire? This week on Edelman Financial Engines’ Everyday Wealth™, Jean, Soledad and wealth planner Rose Niang discuss why chasing a number is never a good idea and how a planner can help you figure out what’s best for you. Later in the episode, the hosts talk about caring for an aging parent and the benefit of having a trusted advisor to help you navigate the difficult conversations that the scenario brings. Then, Jean, Soledad and Rose dive into the unique set of financial challenges facing couples who are cohabiting but not married. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Neither Financial Engines nor its advisors sell insurance products. Edelman Financial Engines affiliates may receive insurance-related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties. You are encouraged to review this information with your insurance agent or broker to determine the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

According to recent studies, the majority of millionaires in the U.S. are self-made. They didn’t inherit their money, they earned it, and most are the first generation in their family to do so. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean, Soledad, and wealth planner Brian Leslie discuss the unique challenges of first-generation wealth and how you can pass on the traits that helped build it to future generations. Later, many people retired during the pandemic and are now regretting their decision because they didn’t take into account how the down markets, inflation, and higher interest rates would affect their retirement plans. Now some are thinking about taking their social security early. The hosts break down why that could be a costly mistake. Finally, Dr. Wei Hu, vice president of financial research at Edelman Financial Engines, joins the hosts for Investing Sense, to talk about what hindsight bias is and how it could be affecting your assessment of your investments. Originally posted 10-8-22 and 10-15-22 This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. This audio contains a hypothetical illustration meant to demonstrate the principle of compound interest and is not representative of past or future returns of any specific investment vehicle. They do not include consideration of the investment fees or expenses, time value of money, inflation, fluctuations in principal or taxes.See omnystudio.com/listener for privacy information.

There’s a lot of hype in the news about 2023 and the economic turmoil we may be facing. However, another way to think about it is that we actually may be on the path to normalization. This week on Edelman Financial Engines’ Everyday Wealth™, Jean, Soledad, and wealth planner John McCafferty will discuss the economic forces that are impacting all of us right now, and shed some light on why it may not be as ominous as we think. Later in the episode, Christopher Jones, chief investment officer for Edelman Financial Engines, joins the hosts to discuss how EFE factors in market swings when constructing its portfolios – which can help clients through these periods of uncertainty. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low price levels. Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.

For most people, 2022 has been a perfect storm of high inflation, aggressive rate hikes, volatile markets, worries of recession… and just about everything else that makes investors run for the hills. This week on Edelman Financial Engines’ Everyday Wealth™, Soledad, Jean and wealth planner Andy Smith will put the markets into context, and – hopefully – provide a bit of perspective about what we’re experiencing right now in the economy. Later in the episode, the hosts discuss two types of investors – those who chase returns and those who work toward a clear set of goals, and why one typically leads to better outcomes. They’ll also explore what to do at different stages and phases of life to help protect your wealth. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. Neither Edelman Financial Engines nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

When you’re approaching retirement, you have to make many decisions that will affect your finances – either positively or negatively. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean and wealth planner Isabel Barrow discuss some of the most important decisions that could cost you if you don’t plan for them, including what to do with your mortgage, and what to consider before traveling . Later, the end of the year is coming and so are opportunities to harvest some of your losses to help save you money on taxes. Jean and Isabel talk about what tax-loss harvesting is and how it may help you. Originally posted 10-1-22 This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. This show contains a hypothetical illustration and is not representative of the past or future results of any specific investment vehicle. Past performance does not guarantee future results See omnystudio.com/listener for privacy information.

Record inflation, aggressive rate hikes and a gloomy financial forecast for 2023 – not much seems to be going right in today’s economic climate. So what effect do these financial headwinds have on our own “personal economies”? This week on Edelman Financial Engines’ Everyday Wealth™, Soledad, Jean and wealth planner Isabel Barrow will be talking about why you should consider sticking with a diversified portfolio through unsettling times. Later in the episode, with midterms around the corner and the markets weighing heavily on our minds, investors may be wondering if they should be adjusting their portfolios to prepare for election results. The hosts discuss the historical impacts of the elections on the markets and what to do and not do to help protect your wealth. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). An index is a portfolio of specific securities (such as the S&P 500, Dow Jones Industrial Average and Nasdaq composite), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. This is a hypothetical illustration and is not representative of the past or future results of any specific investment vehicle. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

During Medicare enrollment, there are many decisions to make that could cost you a lot if you don’t choose wisely. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean, Soledad and wealth planner Rose Niang explain the intricacies of Medicare plans and what you need to know to help you make the best decisions. Later in the episode, charitable giving is good for charities and it also could be good for your personal economy. The hosts discuss giving in a tax-efficient way and how a donor-advised fund can help. This show is prerecorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). This material was prepared for informational and/or educational purposes only. Although the information has been gathered from sources believed to be reliable, we do not guarantee its accuracy or completeness. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. See omnystudio.com/listener for privacy information.

There are plenty of ways that inflation may have a negative impact on our finances, but there may be a silver lining. In this episode of Edelman Financial Engines' Everyday Wealth™, Jean, Soledad and Edelman Financial Engines wealth planner Isabel Barrow break down what may be some positive news when it comes time to pay your taxes. Next, the hosts tackle the challenges of leaving a legacy from first generation wealth – from how to know if you have enough to where to start once you do. Later, Dr. Wei Hu, vice president of financial research at Edelman Financial Engines, joins Soledad, Jean and Isabel for Investing Sense, to talk about what hindsight bias is and how it could be affecting your assessment of your investments. This show is prerecorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and, therefore, have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. This show contains a hypothetical illustration meant to demonstrate the principle of compound interest and is not representative of past or future returns of any specific investment vehicle. They do not include consideration of the investment fees or expenses, time value of money, inflation, fluctuations in principal or taxes.See omnystudio.com/listener for privacy information.

According to recent studies, the majority of millionaires in the U.S. are self-made. They didn’t inherit their money, they did it the hard way. They earned it, and most are the first generation in their family to do so. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean, Soledad, and wealth planner Brian Leslie discuss the unique challenges of first-generation wealth and how you can pass on the traits that helped build it to future generations. Later, many people retired during the pandemic and are now regretting their decision because they didn’t take into account how the down markets, inflation, and higher interest rates would affect their retirement plans. Now some are thinking about taking their social security early. Brian, Jean and Soledad break down why that could be a costly mistake. Finally, you’ll get a sneak peek into Edelman Financial Engines’ new webinar “The Elections and Your Portfolio, Separating Fact From Fiction” on Tuesday, Oct. 11 at 2 p.m. or 8 p.m. ET. You'll learn what more than 70 years of data can tell us about elections and the stock market, and how a simple yet powerful investment strategy can help you in any economic environment. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. This is a hypothetical illustration meant to demonstrate the principle of compound interest and is not representative of past or future returns of any specific investment vehicle. They do not include consideration of the investment fees or expenses, time value of money, inflation, fluctuations in principal or taxes.See omnystudio.com/listener for privacy information.

When you’re approaching retirement, you have to make many decisions that will affect your finances – either positively or negatively. In this episode of Edelman Financial Engines’ Everyday Wealth™, Jean and wealth planner Isabel Barrow discuss some of the most important decisions that could cost you if you don’t plan for them, including what to do with your mortgage, and what to consider before traveling . Later, the end of the year is coming and so are opportunities to harvest some of your losses to help save you money on taxes. Jean and Isabel talk about what tax-loss harvesting is and how it may help you. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. This is a hypothetical illustration and is not representative of the past or future results of any specific investment vehicle. Past performance does not guarantee future resultsSee omnystudio.com/listener for privacy information.

Even in the toughest financial times, you can get a windfall of money and have no idea what to do with it. In this episode of Edelman Financial Engines’ Everyday Wealth™, Soledad, Jean and wealth planner Jason Cowans talk about what to do if you’re one of those lucky people who come into sudden wealth – either through an inheritance, a divorce or lawsuit settlements, or even the lottery – to help make the most of your money. This show is pre-recorded, and any callers are prescreened. Main Radio Page: Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

To avoid layoffs, some companies are choosing to offer early retirement packages to some employees. In this highlight, Soledad, Jean, and Edelman Financial Engines wealth planner John McCafferty discuss what a good early retirement package can include, and what to consider if you’re offered one. See omnystudio.com/listener for privacy information.

With open enrollment season right around the corner, Jean, Soledad, and Edelman Financial Engines wealth planner John McCafferty discuss considerations to make when it comes to long-term and short-term disability, life insurance and 401K contributions. Neither Edelman Financial Engines nor any of its affiliates, or their advisors, sell insurance products. EFE’s affiliates may receive insurance related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

Edelman Financial Engines wealth planner John McCafferty walks Jean and Soledad through what should be on your year end financial review checklist including your current financial plan, risk tolerance, and questions to ask your financial advisor about your portfolio. Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.

Recession, inflation, rising interest rates. Wondering what today's economic challenges mean for you? In this highlight, you’ll get a sneak peek into Edelman Financial Engines’ new webinar, “The Economic Storm of 2022 and Your Wealth,” a round-table discussion hosted by Jean Chatzky and featuring wealth planners from Edelman Financial Engines, happening on September 20 at 2 p.m. or 8 p.m. ET. You’ll get timely insights into today’s market situation – and learn steps to consider now. You can register at PlanEFE.com with no cost or obligation. Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.

As fall approaches, many people are feeling the need to do something before the end of the year, both personally and financially. This week on Edelman Financial Engines’ Everyday WealthTM, Jean, Soledad and Edelman Financial Engines’ planner John McCafferty discuss the opportunities you don’t want to miss out on on your financial planning checklist heading into the final stretch of the year including your year end financial review, open enrollment, 401k contributions, and what to do if you’re offered an early retirement package. Later in the episode, there’s a sneak peek of Edelman Financial Engines’ upcoming webinar “The Economic Storm of 2022 and Your Wealth” hosted by Jean Chatzky, where you’ll get timely insights into today's market situation. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results. Neither Edelman Financial Engines nor any of its affiliates, or their advisors, sell insurance products. EFE’s affiliates may receive insurance related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

If you’re thinking about renting your house on Airbnb, there are a few things to consider. Edelman Financial Engines wealth planner Rose Niang, Jean and Soledad break down what you need to know before you decide.See omnystudio.com/listener for privacy information.

Soledad, Jean, and Edelman Financial Engines wealth planner Rose Niang discuss the correlation between home prices and inflation and whether or not it's a good time to buy a second home. See omnystudio.com/listener for privacy information.

Are you one of the lucky people who has a pension? If you are, and you retire now, should you take a lump sum or monthly payments? And why do time and interest rates play such a critical role in this decision? In this segment, Soledad, Jean, and Edelman Financial Engines wealth planner Rose Niang explore what you need to know when it comes to pensions.See omnystudio.com/listener for privacy information.

In this highlight, Jean, Soledad, and Edelman Financial Engines wealth planner Rose Niang talk about the big pinch of increased financing costs amid high interest rates, higher prices that consumers may feel on big ticket items due to inflation, home improvements, and what to consider before making a purchase. See omnystudio.com/listener for privacy information.

Jean, Soledad, and Edelman Financial Engines wealth planner Rose Niang discuss what happens when interest rates rise and what the possible upsides are, including potential extra money for savers and social security recipients.See omnystudio.com/listener for privacy information.

The fed continues to work on lowering inflation rates, using interest rate hikes as a method for cooling the economy. As a result, markets tumbled. Now analysts and investors are trying to predict the size of the next Fed hike coming later in September, and the market will move day to day as it tries to price in those potential hikes. This week on Edelman Financial Engines’ Everyday WealthTM, Jean, Soledad, and Edelman Financial Engines wealth planner Rose Niang will be discussing why we should be interested in rising interest rates and what the upsides are, if any. They’ll also discuss lump sum pensions, when to buy big ticket items, and whether or not buying a second home can help hedge against inflation. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show).See omnystudio.com/listener for privacy information.

Jean and Soledad, joined by Edelman Financial Engines wealth planner Isabel Barrow, discuss perception vs reality when it comes to retiring in a bear market and how attaching a number to your retirement plan may not be the best approach. Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.

Edelman Financial Engines wealth planner Isabel Barrow breaks down the meaning behind sequence of return risk for Jean and Soledad and explains what role it plays for retirees when it comes to withdrawal strategies. Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.

Soledad, Jean, and Edelman Financial Engines wealth planner Isabel Barrow answer a listener’s questions about required minimum distributions (RMDs) and discuss strategies that a planner can help you put into action during a bear market Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results. Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low-price levels.See omnystudio.com/listener for privacy information.

Jean and Soledad, joined by Edelman Financial Engines wealth planner Isabel Barrow, explore the pros and cons of different withdrawal strategies and how a wealth planner could help you determine which fit your personal economy. Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results. Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low-price levels.See omnystudio.com/listener for privacy information.

Given the current state of the economy, with high inflation, market volatility, and overall financial stress, many retirees are reconsidering their retirement out of fear that they may outlive their wealth. In this encore presentation of Everyday Wealth™ from July 30, 2022, Jean and Soledad are joined by Edelman Financial Engines wealth planner Isabel Barrow to discuss how retirement is changing and what considerations to make when retiring in a bear market, including partial retirement, withdrawal strategies, and more. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results. Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low-price levels.See omnystudio.com/listener for privacy information.

Soledad, Jean, and Edelman Financial Engines wealth planner Jason Cowans answer a listener’s questions about required minimum distributions and discuss what approach may help mitigate long-term risks. See omnystudio.com/listener for privacy information.

A lot of times we think we've got everything mapped out and we have a plan and the plan's going along just fine and then all of a sudden, something happens – like a health scare – and it completely changes everything. In this segment, Jean, Soledad, and Edelman Financial Engines wealth planner Jason Cowans talk about how to reevaluate your financial plan to help you make sure you’re prepared for the worst. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

Changing jobs in your 40s and 50s can present certain financial complications that can be worth big money depending on your situation. Edelman Financial Engines wealth planner Jason Cowans discusses with Jean and Soledad what makes taking a new job a good or bad decision financially in the long term and what you should know before accepting a new position. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

A new baby in the family means new financial considerations. Jean, Soledad and Edelman Financial Engines wealth planner Jason Cowans discuss what new grandparents should consider when thinking about how to gift money to their new grandchild.See omnystudio.com/listener for privacy information.

Many times in life, people have a sound financial plan – and then BOOM – something unexpectedly disrupts it. From positive experiences like the birth of a new child or changing jobs later in life, to the not so positive ones, like unexpected health scares, these are the times where having your financial house in order matters most. This week on Edelman Financial Engines’ Everyday Wealth™, Soledad, Jean and Edelman Financial Engines wealth planner Jason Cowans walk through these moments and demonstrate how a wealth planner can help you better prepare for the unexpected. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.See omnystudio.com/listener for privacy information.

If you leased your car within the past three years, Jean shares a hack that could make you some money.See omnystudio.com/listener for privacy information.

In our monthly segment, Investing Sense, Dr. Wei Hu, vice president of financial research for Edelman Financial Engines, joins Jean and wealth planner Andy Smith to discuss how reference points can lead to bad investing decisions and what to do to help prevent that from happening. Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low-price levels. An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. See omnystudio.com/listener for privacy information.

With sky-high car prices, Jean and Edelman Financial Engines wealth planner Andy Smith discuss whether it’s more cost effective to buy or lease a car in the current economy and the pros and cons of both. Jean also shares her favorite car hack for leased cars.See omnystudio.com/listener for privacy information.

Edelman Financial Engines wealth planner Andy Smith joins Jean to explain why speculation can lead to risky investments and if there’s ever a time when speculation can be used in goals-based investing. Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.

Jean and Edelman Financial Engines wealth planner Andy Smith break down the two different types of investors, and what risks may or may not be worth taking in light of the recent market rebound and continued volatility. See omnystudio.com/listener for privacy information.

As markets continue their bumpy ride, some investors are looking to make back losses during the potential upswings – possibly taking on some excessive risk. In this episode of Everyday Wealth™, Jean Chatzky is joined by wealth planner Andy Smith to discuss the differences between speculation and investing, and how a wealth planner can help mitigate your risks. They also discuss whether it’s better to lease or buy a car in the current economy, and later in the episode, Dr. Wei Hu, vice president of financial research at Edelman Financial Engines, joins Jean and Andy for Investing Sense, where they talk about mental reference points that impact investing. This show is pre-recorded, and any callers are prescreened. Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show). Investing strategies, such as asset allocation, diversification or rebalancing, do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. All investments have inherent risks, including loss of principal. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Past performance does not guarantee future results. Dollar Cost Averaging does not assure a profit or protect against a loss in a declining market. For the strategy to be effective, you must continue to purchase shares in both up and down markets. As such, an investor needs to consider his/her financial ability to continuously invest through periods of low-price levels. An index is a portfolio of specific securities (common examples are the S&P, DJIA, NASDAQ), the performance of which is often used as a benchmark in judging the relative performance of certain asset classes. Indexes are unmanaged portfolios and investors cannot invest directly in an index. Past performance does not guarantee future results. See omnystudio.com/listener for privacy information.

If your child is going off to college for the first time, there are many things that you have to send with them, including financial documents. Erin Smith, director of estate planning with Edelman Financial Engines, joins Soledad and Jean to explain what those documents are, and why they’re so important. Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Edelman Financial Engines estate planning specialists cannot provide guidance on service-related items, help with account paperwork or give guidance on custodian processes.See omnystudio.com/listener for privacy information.

Whether we’re in a recession-ish now or we will be in the future, it’s important to be prepared. Wiliam Lee, chief economist from the Milken Institute, tells Jean and Soledad what consumers and investors can do to help protect their wealth. Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.See omnystudio.com/listener for privacy information.