NerdWallet's Smart Money Podcast

Credit tips: credit utilization and becoming an authorized user. Checking credit report for accuracy. 529 plans and financial aid. Managing money on a monthly pay schedule. Comparing 403b retirement plan to alternative options.

Insurance Nerd Ryan Brady and John Ryan, founder and CEO of Ryan Insurance Strategy Consultants, discuss life insurance, disability insurance, workplace benefits, income protection, AD&D insurance, short-term and long-term disability coverage, employer-provided disability insurance, workers' compensation, and Social Security, emphasizing the importance of selecting the right insurance policy to protect income and taking action to safeguard oneself and loved ones.

The Nerds discuss UAW strike, GDP growth, debit card fees, and AI executive order. They invite Je from Zillow to talk about the impact of rising interest rates on renting vs. buying a home. They explore factors like housing inventory and challenges faced by first-time homebuyers.

Hosts share personal financial horror stories. Discuss options for paying off credit card debt, including credit card hardship programs, balance transfer cards, personal loans, and bankruptcy. Emphasize the importance of assessing overall financial situation and seeking professional guidance.

Expert Nerds discuss the complexities of open enrollment, including assessing healthcare plans and costs. They dive into specific terminology and scenarios, explaining deductibles, premiums, HMOs, PPOs, HDHPs, HSAs, and FSAs. They also discuss selecting optimal health insurance, budgeting for healthcare, and comparing the benefits of FSAs and HSAs. The hosts emphasize the importance of considering healthcare needs and financial situation when choosing a plan. They highlight the advantages of FSAs and HSAs and provide advice for comparing and choosing between options.

Learn practical financial tips to save on rising commuting costs as workers increasingly return to the office. Topics discussed include the Federal Reserve's influence on interest rates, the latest Commerce Department report on retail sales, the Mercer CFA Institute’s Global Pension Index ranking of retirement systems, the IRS's pilot program for free tax preparation software, and the escalating costs of commuting to work such as car ownership, gas prices, and the used car market. Practical strategies for keeping costs down are also shared.

Topics covered include budgeting for conventions and hobbies, money-saving strategies for car and home insurance, insights from a comic book writer on attending conventions, types of car insurance, and an overview of home insurance coverage and options.

The podcast explores the financial and legal challenges in LGBTQ+ health care, including the costs and effectiveness of HIV prevention medications. It also delves into the high expenses of gender-affirming care, from therapy sessions to surgeries, and provides resources and financial strategies to manage these costs.

In this podcast, they discuss recent developments in junk fees and the government's efforts to eliminate them. They also analyze core inflation and the return of adjustable rate mortgages in the housing market. The importance of a new House Speaker and the issues with the healthcare system are also discussed. The podcast highlights the government's actions to tackle junk fees and the personal experiences of encountering hidden fees. Finally, they explore President Biden's efforts to crack down on junk fees and his economic agenda, known as Bidenomics.

Learn how to plan for the golden years with a deep dive into long-term care, Social Security, Medicare and estate planning.3:23 Long-Term Care Insurance: Kate Ashford, a certified senior advisor specializing in Medicare and retirement topics, discusses the intricacies of long-term care insurance, including exactly what Medicare covers in terms of long-term care costs. Kate also discusses alternative options to long-term care insurance such as hybrid policies that combine permanent life insurance with a long-term care rider.8:30 Social Security: Liz Weston, a certified financial planner and senior writer on the core personal finance team, offers insights into the misconceptions and complexities surrounding Social Security. Liz discusses the big benefits of delaying Social Security claims to maximize benefits, addresses the idea of Social Security going bankrupt, and explains the difference between the decision to stop working and the decision to apply for Social Security. Liz also breaks down what happens to Social Security benefits when one member of a married couple dies.15:47 Medicare: Alex Rosenberg, a lead writer specializing in Medicare and information technology, provides a comprehensive understanding of Medicare, a federal health insurance program primarily for individuals aged 65 and over. Alex explains the different parts of Medicare, including Part A (hospital insurance), Part B (outpatient care), and Part D (prescription drugs), and their associated costs and coverage. Alex also discusses the pros and cons of the two ways of getting Medicare coverage and stresses the importance of knowing when to sign up, choosing the appropriate coverage, preparing for premiums, and planning for non-covered healthcare needs.24:02 Estate Planning: Dalia Ramirez, a lead writer specializing in estate planning, explores the critical aspects of end-of-life planning and estate management. Dalia talks about the necessary tools for estate planning, such as wills, trusts, beneficiary designated accounts, and property deeds, and delves into the significance of healthcare and medical pre-planning, which includes power of attorney designation and living wills. Dalia also discusses the importance of having a plan in place for emergency scenarios and the roles you might serve for a loved one, such as being a power of attorney for medical decisions or a beneficiary of their property. 33:26 Q&A: The Nerds wrap up by explaining whether it’s possible to qualify for both Medicaid and Medicare, broad guidelines for coordinating the many responsibilities siblings may share when it comes to taking care of aging parents, and how often a will should be revisited after it’s created.In their conversation, the Nerds discuss: end-of-life planning, the 30/60 talk, the 40/70 talk, long-term care insurance, Social Security benefits, Medicare Advantage, Medicaid, estate planning, health insurance, retirement planning, wills, trusts, power of attorney designation, living wills, emergency planning, family caregiving, managing medical and financial responsibilities, long-term financial decisions, healthcare pre-planning, beneficiary designations, and property deeds.To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices