Money Girl

1039. Laura answers a listener’s question about managing multiple 401(k)s with her current and previous employers. Find out the pros and cons of holding old retirement plans, how to streamline your strategy, and simultaneously reach other financial goals, like homeownership.Key takeawaysConsolidating old retirement plans into one low-cost IRA or your current employer’s plan simplifies your asset allocation and protects your retirement growth from redundant account fees.Always request a direct trustee-to-trustee rollover when moving funds between retirement accounts to eliminate the risk of missing the strict 60-day deadline.Workplace retirement plans offer federal protection against creditors with no dollar limit. IRAs are protected by state-specific laws, making plan-to-plan rollovers an attractive choice for those prioritizing maximum creditor protection. First-time homebuyers can withdraw up to $10,000 penalty-free (but not tax-free) from an IRA ($20,000 for qualifying married couples) for a primary residence.Early retirement withdrawals for a home down payment should generally be secondary to building a dedicated home down payment savings fund.Discover more from Money Girl!FacebookMoney Girl NewsletterThe Money Stack NewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

1038. Are you thinking about buying your first home but feeling overwhelmed by interest rates, upfront costs, and hiring a real estate agent? Host Laura Adams walks you through 9 tips every first-time homebuyer must know to protect their finances and land the right deal.Key Takeaways:How subtle changes in your credit score can save (or cost) you tens of thousands in today's rate environment.Most mortgage underwriters look for a maximum debt-to-income ratio of 45% to 50%, which includes your existing debts plus the new estimated housing payment.Hidden homeownership expenses—from surging insurance premiums to HOA fees.You should budget 2% to 5% extra for closing costs beyond your down payment to cover loan origination, appraisals, taxes, insurance reserves, and title fees.Why you need an additional 5% of a home’s purchase price saved on top of your down payment.A prequalification provides a loose baseline for house hunting, but you need a verified preapproval before making official offers on properties.Contract contingencies, such as financing, appraisal, and home inspections, safeguard your earnest money deposit if unmanageable structural defects arise.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

On a road trip, tackling a summer cleanup, or just catching up on podcasts? QDT has you covered with Summer Saturday encores from your favorite shows. See the full Summer Saturday lineup on Spotify and enjoy this episode, which first aired in June 2022.Find out five ways to save and invest for your child's future and how it should fit into your big financial picture.Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.Links:https://www.quickanddirtytips.com/https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.facebook.com/MoneyGirlQDThttps://lauradadams.com/ 

795. Laura answers a listener question about how to invest in a brokerage account, including the rules you need to know and the best strategy for diversification.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

1037. What actually happens legally and financially when you say "I do"? Laura Adams interviews veteran New York City divorce trial lawyer Jim Sexton about the often misunderstood world of matrimonial law. Whether you are happily single, engaged, or decades into a marriage, Jim’s advice will completely change how you view love, risk, and asset management.Key takeaways:Be aware that if you don't create your own prenuptial agreement, the state’s default laws will apply at the time of a divorce.Keeping a baseline of financial privacy and separate funds alongside a joint account can clarify your intentions in a divorce. When dating, pay attention to someone’s risk tolerance so you understand how they feel about debt, gambling, or anything that could stress a family.Even in the most trustworthy relationships, completely relying on a spouse to manage money is dangerous because an unexpected crisis could arise.The secret to successful long-term relationships isn't flashy; it’s a series of small, consistent habits like regular check-ins, communication, and proactive financial transparency that prevent misery before it starts.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

Summer Saturdays: Best of QDT Encore Episode: This episode originally aired in June 2022.733. Ever wonder if using a balance transfer credit card could help you get out of debt faster? Laura interviews Mary Gameng, MBA and Credit Card Specialist with Citizens, and answers a listener question. Here are a few topics Mary and Laura talk about on this week's show:How many Americans have credit card debt and how much.Steps to create a debt pay-off plan.Ways using a balance transfer card can improve your finances.How card issuers evaluate you when applying for a transfer card.Whether using a transfer card can hurt your credit.Shopping tips for finding the best balance transfer card offer.Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.Money Girl is a part of Quick and Dirty Tips.

1036. Is Social Security in trouble, or is it just a lot of political noise? Laura answers a listener’s question about what the changes to the retirement fund mean for your financial future. You’ll learn the new tax caps that employees and the self-employed must pay and how to protect your retirement safety net.Key takeawaysAccording to the latest 2026 Trustees Report, the Social Security retirement fund is now projected to face a shortfall by 2032, sooner than previous estimates.The Social Security wage base has increased to $184,500 for 2026. High earners will pay a maximum of $11,439 as employees, while the self-employed face a maximum cap of $22,878.Retirement benefits for Social Security participants are based on your highest 35 years of earnings.While you can claim benefits as early as age 62, doing so permanently reduces your benefits by about 30%. Delaying benefits past your Full Retirement Age (FRA) pays 8% more per year until age 70.Social Security benefits may be taxable if your "combined income" (AGI + tax-exempt interest + 50% of benefits) exceeds modest thresholds.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

1035. Host Laura Adams sits down with Plannie founder Annie Lee to expose the most common financial pitfalls couples make. Annie breaks down the "macro approach" to wedding design, explaining how to test-drive a planner and focus your budget for a luxury feel at a fraction of the cost. Key takeaways:Why overinvesting in a wedding venue is the most common budget mistake.How to focus on event expenses that are impactful and instantly set the mood for guests.Why locking in the lowest number of guests on catering and venue contracts is wise.Leave a buffer in your budget for overlooked expenses, such as administrative fees, taxes, and tips, which can drive your final bill up by 30%.How Plannie’s hourly expert consultants can help tackle budget creation, contract reviews, day-of timeline coordination, and much more.Working with a Plannie consultant on one or two small hourly assignments (like a venue search or budget review) to test their communication, speed, and compatibility is wise before making a full commitment to work together.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.

1034. Watching the young adults in your life navigate their first "real" job is an exciting milestone—but it can also be stressful if you notice them carrying credit card debt or skipping out on savings. Laura answers a heartfelt question on this topic with five non-judgmental strategies to guide a young person toward financial success without sounding overbearing. Key takeawaysTo help a young adult improve their personal finances, trade lectures for personal storytelling, like sharing your money blunders.Ensure a first-time Gen Z earner understands that paying only the minimum on high-interest debt is a trap that escalates the cost of original purchases.Frame credit cards as sophisticated financial tools with excellent benefits that need to be handled carefully, such as with automated payments to avoid interest.Investing when you’re young allows you to build wealth for less out-of-pocket than waiting until you earn more. Not maximizing an employer’s retirement match is like turning down a salary raise for no extra work.Ask open-ended questions about a young adult’s lifestyle goals, workplace benefits, and day-to-day spending shocks rather than telling them how to budget.Discover more from Money Girl!FacebookNewsletterTranscripts available at QuickandDirtyTips.com.Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.