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.

The podcast discusses the challenges of 2022 in investing, different types of investors, the impact of social media on investment decisions, and the importance of long-term financial planning. It explores market volatility, the dangers of irrational exuberance, and offers advice on retirement planning and seeking professional guidance.

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.

Learn about the intricacies of Medicare enrollment decisions and the importance of making informed choices. Discover how charitable giving can benefit both charities and your personal finances, along with tax-efficient strategies like donor-advised funds. Dive into the world of strategic charitable giving and estate planning for a lasting philanthropic legacy.

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.