Season 2

COVID-19, Money Advice for the Pandemic

Episode Notes

The Coronavirus pandemic has created an unprecedented global healthcare, economic and personal financial crisis. The risks are magnified for those approaching retirement, who face a higher risk of infection, loss of income, and a steep drop in the value of their retirement savings. In this special edition of Friends Talk Money, Richard, Pam and Terry serve up advice and insights about what’s going on with stimulus checks, and how to stay solvent and avoid making bad decisions during these trying times.

Resources

 

  • To track your stimulus payment: Link
  • Stimulus Checks and Care Act Changes — Everything You Need to Know: Link
  • To find a fiduciary fee-only financial advisor: Link
  • For getting health insurance after a job loss: Link

NextAvenue articles

 

  • 3 Ways the COVID-19 Stimulus Law May Help Your Financial Problems: Link
  • Ways to Bolster Your Finances Due to the Coronavirus: Link
  • How to Get Health Insurance After a Job Loss: Link

Recent Podcasts

Season 7
Why Women are Leading Sustainable Investing

Show Episode Notes

In this episode, Pam, Terry and Richard discuss the pros and cons of socially responsible investing, whose increasing popularity is being driven mainly by women. In particular, they examine whether women sacrifice returns by investing in stocks or ESG funds that align with their personal values. The answer may surprise you.

For further research:

Janine Firpo, Activate Your Money: Invest to Grow Your Wealth and Build a Better World

Season 7
5 Tips for 401(k) Rollovers

Show Episode Notes

Directly rolling over a 401(k) plan to an IRA with a custodian like Fidelity, Schwab or Vanguard is something most people should do as soon as possible after they retire. Why? Because most 401(k) plan investment options are designed for people saving for retirement, rather than for those who need their nest egg to generate income to help pay for everyday expenses. Rollover IRAs offer access to a wider variety of investment options, many of which may have lower expenses than the funds in your 401(k) account. But since you may need money in your IRA to last 20 years or more, you may not feel confident making your own investment decisions. A low-cost robo-advisor can automatically invest your rollover IRA money but won’t be able to answer your questions or address your concerns. That’s why it may be worth paying more for the services of a fee-only fiduciary financial advisor. They not only can manage your investments but can come up with a comprehensive plan to address the financial opportunities and challenges you may face during retirement. 

For further research: 

Show Episode Notes

Podcast Hosts

Pam Krueger

Pam Krueger

Terry Savage

Terry Savage

Richard-Eisenberg

Richard Eisenberg

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