How to Build Wealth Right Now and How Couples Can Align on Financial Goals

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 31 March 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Learn the truth behind myths about building wealth, plus hear from a couple looking to align on financial goals and values. Can you build wealth without starting a business? How can couples figure out what to do with extra money in their budget? Hosts Sean Pyles and Elizabeth Ayoola share their “money hot takes” and then talk to a married couple about how they can better align on financial priorities. Sean and Elizabeth kick off the episode with their thoughts on how to become a millionaire without needing to own your own business, and why they believe consistent investing from a 9-to-5 job can help you grow your wealth. Plus are Roth IRAs overrated? They might be when compared to Roth 401(k)s. Then, listeners Naomi and Andrew join Sean and Elizabeth to discuss how couples can align on their financial goals. They talk through how to define shared values, balance short- and long-term priorities, and decide how to use some new room in their budget wisely, including strategies for emergency funds, retirement, and kids’ future savings. NerdWallet's list of the best savings accounts: https://www.nerdwallet.com/best/banking/savings-accounts Get matched with a financial advisor by using NerdWallet Advisors Match: https://www.nerdwallet.com/best/investing/financial-advisors NerdWallet’s investment calculator will calculate how much your investments will grow based on your planned contributions, timeline, rate of return and compounding frequency: https://www.nerdwallet.com/calculator/investment-calculator Are you on track to save enough for retirement? Use NerdWallet’s calculator to check your progress, see how much retirement income you'll have and estimate how much more you should save: https://www.nerdwallet.com/calculator/retirement-calculator In their conversation, the Nerds discuss: how to build wealth without a business, investing from a 9 to 5 job, becoming a millionaire from salary, Roth IRA vs Roth 401k, Roth IRA contribution limits, backdoor Roth IRA, Roth 401k benefits, emergency fund recommendations, short term financial goals, good debt vs bad debt, paying off debt as a couple, managing money in a marriage, budgeting as a couple, aligning financial goals with a partner, daycare budget reallocation, how to prioritize financial goals, saving for a home addition, using home equity loan, 529 plan alternatives, taxable brokerage for kids, feeling behind on retirement, retirement planning anxiety, compound interest retirement, how to save for multiple goals, financial planning for couples, building credit as a couple, margin in budget meaning, shared financial values, and daycare cost savings. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Elizabeth, are you ready to keep it real?
0:02.1	Like, really real?
0:03.8	So real that people might be shocked by what you're saying?
0:06.3	I think that's my default, Sean.
0:08.1	As a recovering oversharer, I am well-versed in realness.
0:11.9	You know, I think that's why we get along so well.
0:14.2	Well, this episode, we're doing another round of money hot takes,
0:17.6	where we lay out the nerdy truths about money that people might not be ready to hear, but it's our job to do it anyway.
0:23.6	So, buckle up.
0:28.7	Welcome to Nerd Wallet's Smart Money Podcast, where you send us your money questions, and we answer them with the help of our genius nerds.
0:35.4	I'm Sean Piles.
0:36.5	And I'm Elizabeth Ayola. This episode, we talk
0:40.0	with a married couple about how they manage their finances together, even when they don't agree on
0:46.0	what they want to do with their money. But first, you heard us up top. It's time for another round
0:50.8	of money hot takes. If you are new here, this is how it works. Elizabeth and I have
0:55.4	a hundred seconds on the clock to rail against something in the personal finance space that we
0:59.9	are annoyed by or simply don't like, because there's a lot of misinformation or just misguided
1:05.4	stuff that happens around money, and it's our solemn, nerdy duty to impose our perspective on
1:10.6	listeners every so often.
1:12.0	Elizabeth, this is your very first money hot take segment, so you have the honor of going first.
1:18.0	Are you ready?
1:18.8	I stay ready, Sean.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from NerdWallet Personal Finance, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NerdWallet Personal Finance and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.