Everyday Wealth

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.