Mailbag: How to decide if you need an annuity and when to close those high-interest credit cards

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 13 September 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this double-feature Mailbag, Jean talks to Kathryn and Audrey. Kathryn is a little over a decade from retirement and recently started a new job. In her new role, she'll be eligible to receive a pension when she retires. She's wondering if, in addition, an annuity makes sense for her. Our next call is from Audrey who’s working on rebuilding her credit after not being employed for a little while. She’s wondering if now is the right time to close the credit cards she opened up that have monthly fees. Chapters: 1:00 Mailbag Question 1: Do I need an annuity? 5:00 Investing and Planning for Retirement 9:00 Planning for Future Expenses 14:00 Mailbag Question 2: Is now the right time to close credit cards with monthly fees? 19:00 Building up an Emergency Fund 21:00 Goals for Financial Independence Have a personal-finance question for us or want to jump on a call with Jean so you can get all of your follow-up questions answered? Write in at [email protected]. For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom and learn more at investingfixx.com. Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here. The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Use promo code HERMONEY at the link below to get an exclusive 60% off an annual plan at https://incogni.com/hermoney. Grab the exclusive NordVPN deal ➼ https://nordvpn.com/earninvest and get extra subscription time. Try it risk-free now with a 30-day money-back guarantee. Thanks to NordVPN for sponsoring our show. Please contact [email protected] if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an airwave media podcast.
0:06.0	Her money is proudly sponsored by Edelman Financial Engines.
0:09.0	When we look ahead to retirement, one big question, big is are you doing everything you can to maximize
0:17.3	your Social Security benefits and save for the future?
0:21.2	It's time to make sure your plan is rock solid.
0:24.0	Visit plan E.F.com slash Her Money to learn more about specific ways to do just that
0:30.0	with a complimentary wealth checkup.
0:33.0	I am so passionate about data protection online,
0:36.0	and let's be honest, so worried that I recently released an episode all about it.
0:42.0	I also dedicated a session of our Investing Fix Investing Club for
0:47.4	Women for the topic. That's because data breaches are happening all the time.
0:52.7	They are unfortunately becoming more and more common,
0:56.1	and protecting your data means protecting your money.
1:00.3	While I use social media a lot for work and I do share a lot online, I also try to keep my personal life private and my personal social media account locked.
1:12.0	That's because every day your personal information is being
1:15.3	sold or published online without you even knowing about it. But the good news is that
1:20.5	you have the right to protect your privacy and request that data brokers delete the information they hold about you.
1:27.0	The bad news is, it would take you years to do it manually and you'd need to repeat the process every few months because these data brokers just continue collecting your data and creating new records.
1:40.0	It is so frustrating. That's where incogni comes in.
1:43.2	Incogni reaches out to data brokers on your behalf
1:46.4	and deals with any objections from their side.
1:49.2	Try Incogni today for 60% off an annual plan. promo code her money at incogni.com slash
	...

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