Ep 525: The Best Money Advice of All Time (According to the Experts)

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 29 April 2026

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

What's the best financial advice you've ever received? Not the trendiest tip or the hottest stock pick; what’s the wisdom that actually holds up over a lifetime? That's exactly the question Diane Harris, Deputy Editor of Kiplinger, put to 35 of the most trusted voices in personal finance…and the answers are as practical as they are profound. In this episode, you'll learn: Why "spend less than you make" is still the foundation of everything, and what Jean says happens when you don't Peter Lynch's "elevator pitch" test for any stock you own (and why most people fail it) Teresa Ghilarducci's one-date-a-year rule for protecting yourself from panic-selling Why Christine Benz says paying off your mortgage early makes sense, even if the math says otherwise Diane’s number one personal finance tip she learned from taking care of her mother Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Have you ever wondered why songs on the radio are popular?
0:04.1	Why does certain movies get made, even though the premise seems completely random?
0:08.8	Why are concert tickets costing you $3,000, but nobody makes any money touring?
0:13.5	Well, on my podcast, breaking down the biz, we answer all those questions and more.
0:18.6	I'm Seth Schachner.
0:19.8	I have over two decades of experience
0:21.5	in the entertainment and the music industry and every week I talk to insiders that lend insight
0:26.2	and expertise on the media you know and love, past, present, and future. Subscribe now on your
0:31.5	favorite podcasting platform or watch us on YouTube so you never miss a beat. Let's make sense
0:36.6	of this industry together.
0:41.5	The top advice that I gave was just to always have a plan B. Life is going to do a number on you
0:49.0	at some point, probably at several points, even if you do everything with your money the right way, right?
0:54.9	So you're going to be thrown something, you're going to be laid off, someone is going to be ill.
0:59.8	An adult child will need your help when you're on the verge of retirement.
1:05.4	And so you always want to think about what could happen and have a plan.
1:12.8	It's not about just an emergency fund.
1:18.2	An emergency fund is good, but it's really thinking about what could happen and having a mental plan for it.
1:21.8	Hey, everyone. Welcome to Hermione. I'm Gene Chatsky. And I have a question for you. Out of all the financial advice that's out
1:31.3	there and there is so much of it, what actually holds up? We live in this age of information overload.
1:40.9	You can get a money tip from TikTok, from substack, from a podcast, yes, that's us,
1:46.5	from your 401k provider or your Aunt Phyllis at Thanksgiving. And your Aunt Phyllis
1:52.7	might actually be who you trust the most because a recent Gallup survey found that Americans
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