Money Girl

1017. If you think that you must have a cushy job to access a retirement plan, you’re mistaken. There are excellent retirement accounts for the self-employed or those running a small business. Laura reviews the rules, pros, and cons of different retirement plans you might choose based on your income, business size, and financial goals.
Key Takeaways:
Whether your employer doesn’t offer a retirement plan or you’re self-employed, you can save for retirement using one or more tax-advantaged accounts.
Anyone with earned income qualifies for a traditional IRA, making it an excellent option for investing on a pre-tax basis.
If you have earned income that’s less than an annual threshold, you qualify for a Roth IRA, which gives you tax-free income in retirement.
If you have income from a business with no employees, other than a spouse, you qualify for a solo 401(k), which offers the highest contribution limits.
If you have income from a business with or without employees, you qualify for a SEP-IRA.

Upcoming Wedding Series: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: [email protected] or leave a voicemail: (302) 364-0308.

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1016. Are you concerned about affording the future cost of long-term care (LTC), especially with inflation and rising healthcare costs? Laura answers a listener’s question about buying LTC insurance or investing for retirement. You’ll learn how different LTC products and services work and their pros and cons for those with different budgets and goals.

Key takeaways:
Traditional long-term care insurance is best for people in relatively good health with sufficient assets and retirement savings to protect, but you don’t get payments back if you never need covered care.
Various hybrid products, such as life insurance and annuities, can include LTC benefits and accrue value you can pass to your heirs, but at a higher cost than traditional LTC insurance.
Using personal savings or home equity may be an option to pay for LTC if you have a high net worth and are comfortable self-insuring.
Medicaid is the largest single payer of nursing home care in the U.S. for those with low assets, such as a net worth below $2,000, or other eligibility requirements.
Veterans may be eligible for specific LTC benefits that provide a monthly stipend for care at home or in a facility.

Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: [email protected] or leave a voicemail: (302) 364-0308.

Money Girl is a Quick and Dirty Tips Podcast, hosted by Laura Adams.
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Email: [email protected] or leave a voicemail: (302) 364-0308 with your question or comment!
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1015.Are you guilty of leaving "orphan" retirement accounts behind at old jobs? In 2026, failing to manage these funds leads to fiscal drag and unnecessary fees. In this episode, Laura shares essential money management tips to help you rescue your old 401(k) or 403(b) and stop leaving money on the table.
We cover the 2026 technical shifts you need to know, including the SECURE 2.0 Act "force-out" rules and how to practice financial gymnastics to keep your investments growing tax-free. Whether you’re moving to a new employer or joining the creator economy with a side hustle, you’ll learn the four best options for your old accounts—and the $30,000 mistake you must avoid.

Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: [email protected] or leave a voicemail: (302) 364-0308.
Money Girl is a Quick and Dirty Tips Podcast hosted by Laura Adams.
Discover more from Money Girl!
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Transcripts available at QuickandDirtyTips.com.
Hosted on Acast. See acast.com/privacy for more information.

1014.Feeling uneasy about a potential recession or job loss? In this episode of the Money Girl personal finance podcast, Laura explains how to navigate economic uncertainty using mindful spending. Learn why technical literacy and a rebalanced portfolio are your best defenses against a shaky market.
Laura answers a critical listener question: Should you prioritize paying down high-interest debt or building a larger emergency fund?

Key takeaways for financial security
Strengthen your income: Why a side hustle is the ultimate hedge against unemployment.
Strategic spending: Why delaying real estate or car purchases helps you wait for the 2026 "buying window."
Emergency savings: The rule for keeping cash safe and liquid in a high-yield account.
Debt management: How to prioritize liabilities to reduce financial pressure.
Wealth building: Why market volatility is the best time for investing through dollar-cost averaging.
Stay empowered & secure by recession-proofing your finances today.

Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: [email protected] or leave a voicemail: (302) 364-0308.
Money Girl is a Quick and Dirty Tips Podcast hosted by Laura Adams.
Discover more from Money Girl!
Facebook
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Transcripts available at QuickandDirtyTips.com.
Hosted on Acast. See acast.com/privacy for more information.

1013. Laura interviews personal finance powerhouse Farnoosh Torabi to celebrate the upcoming Financial Independence Awareness Day. Farnoosh shares her journey from a cash-strapped journalist to a leading financial educator, offering a candid look at how she turned her "extra" ideas into a multi-book career and the top-rated So Money podcast.

Key Takeaways:
Financial independence is how you define it, such as having savings and security to be selective about how you spend your time.
Look for ways to “recycle” efforts into multiple revenue streams or valuable portfolio pieces.
How a great mentor can help you see your own potential.
Why we shouldn’t discount fear and can use it to make better financial decisions.
Acknowledging that doing work and teaching others how to do it can be a secret to more professional autonomy and success.
Memorable quote: "Money's like a hammer—it's a tool. You can use it to fix things, or you can use it to wreck things."

Upcoming Wedding Series Coming Up: We want your questions about wedding finances! Whether you're the bride, groom, or a guest, send us your questions about budgeting for the big day. Email: [email protected] or leave a voicemail: (302) 364-0308.

Money Girl is a Quick and Dirty Tips Podcast hosted by Laura Adams.

Discover more from Money Girl!
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Transcripts available at QuickandDirtyTips.com.
Hosted on Acast. See acast.com/privacy for more information.