How to Put $200K to Work and The Truth About Generational Spending

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Investing, Education, Business, How To

4.3 • 892 Ratings

🗓️ 28 May 2026

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn what generational spending data reveals and what to do when fear is keeping $200K in savings from growing. What do the stereotypes about each generation's finances actually get wrong? Sean Pyles, CFP®, and Elizabeth Ayoola kick off the episode with senior news writer Anna Helhoski and NerdWallet data writer Kurt Woock, who breaks down a new study analyzing federal Consumer Expenditure Survey data spanning decades of American spending. They explore why housing costs follow a U-shaped curve that could hit hardest in retirement — not just in young adulthood — why the real expense of owning a car isn't the car payment, and how healthcare spending could triple as a share of your income in your later years, just as earnings begin to decline. When is having $200,000 in savings actually working against you? Sean and Elizabeth welcome Kat from Virginia, who has maxed out her 401(k), opened 529 accounts for her kids, and accumulated $200,000 in cash — but is too anxious to touch any of that cash. Joined by Ryan Sterling, CEO of NerdWallet Wealth Partners, they dig into how financial anxiety develops, how to determine the right size for your emergency fund, and what steps could help you move from hoarding cash to building real long-term wealth. NerdWallet Wealth Partners, LLC is an affiliate of NerdWallet Inc. NerdWallet Wealth Partners is a fiduciary online financial advisor, offering low-cost, comprehensive financial advice and investment management. Learn more at nerdwalletwealthpartners.com/smart Data: Massive Survey Shows How Generations Spend Money https://www.nerdwallet.com/finance/studies/generational-spending-CES Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header 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

Transcript

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0:00.0	Hey Elizabeth, we have to talk about the newsletter.
0:04.0	What newsletter are you talking about, Sean? You mean the new, free, smart money email newsletter?
0:08.6	Yes, and I have to say it is so good.
0:11.4	It really is. It has clips, episode roundups, and behind the scenes takes from me, you, and our producer, the stuff that makes you feel like you're really part of the show.
0:20.4	And listeners, for the record, you actually are part of the show.
0:23.7	I'm going to be sharing personal stuff.
0:25.4	You know, I love sharing my business, and I'm going to be sharing parenting tips from an eight-year-old and a single mom perspective.
0:31.5	And I am loading up the newsletter with my favorite gardening tips and lots of cute photos from my garden, including my pets,
0:38.4	just napping among my flower beds. It's kind of adorable. And the best part is that this newsletter
0:43.8	is totally free. So head to nerdwollet.com slash podcast to sign up. For the record, that's
0:49.4	nerdwollet.com slash podcast. Come hang out with us. We've all heard the different generational stereotypes, but
0:56.7	what if they're all wrong and the data tells us a different story? Today, we're sharing
1:01.4	insights about how each generation is spending. Welcome to Nerd Wallet's Smart Money Podcast, where you
1:08.9	send us your money questions and we answer them with the help of our genius nerds.
1:12.7	I'm Sean Piles.
1:13.7	And I'm Elizabeth Ayola.
1:15.7	First, our weekly money news roundup, where we break down the latest in the world of finance to help you be smarter with your money.
1:22.3	Our news colleague, Anna Halhouski, is back to talk about the financial habits dividing and connecting generations.
1:29.7	Hey, Anna.
1:30.6	Hey, Elizabeth and Sean.
1:31.7	Yeah, every generation gets some kind of spending cliche attached to it, right?
1:35.8	Millennials like me spent their 20s hearing about how we spent all of our money on avocado
	...

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