Refresh Your Fall Finances: A Money Check-Up and Investment Diversification Deep Dive

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 16 September 2024

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Get fall-ready with budgeting tips and strategies for diversifying your investment portfolio to achieve financial goals. How can you reset your finances for fall and prepare for the holiday season? Can you grow an undiversified investment portfolio by $28,000 over seven years without additional contributions? Hosts Sean Pyles and Sara Rathner discuss seasonal budgeting and investment diversification to help you understand how to effectively manage your money during the fall season and optimize your investment strategies for long-term growth. They begin with a discussion of preparing your finances for fall, with tips and tricks on reviewing your summer spending, adjusting savings goals for the holidays, and early holiday planning. Then, Smart Money cohost Elizabeth Ayoola joins Sean and Sara to help answer a listener’s question about how they can diversify their investment portfolio to reach a savings goal of $28,000 over four years. They discuss the importance of mitigating risks through diversification, real-life cautionary tales of emotional attachment to investments, and the complexities of assessing stock performance. Use NerdWallet’s free investment calculator to estimate how much your investments or savings will compound over time, based on factors like how much you plan to save or invest, your initial deposit and your expected rate of return: https://www.nerdwallet.com/calculator/investment-calculator In their conversation, the Nerds discuss: fall financial strategies, smart portfolio management, resetting your finances, mastering investment diversification, smart investing tips, fall financial check-up, portfolio diversification, preparing your wallet for autumn, investing wisely, seasonal budgeting, creating a balanced portfolio, assessing financial goals, holiday season financial planning, estimating investment growth, long-term portfolio growth, familiarity bias, emotional attachment to investments, stock performance assessment, avoiding investment pitfalls, financial success, fall budgeting tips, early holiday planning, holiday travel arrangements, financial stability, open enrollment, healthcare options, beneficiary designations, and retirement accounts. 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	Hey Sean, are you ready for fall? I am so ready for fall, Sarah. I have lived in the Pacific
0:06.0	Northwest long enough where after just a few weeks really of sun and heat, I begin to miss the
0:11.8	coziness of rain and cloud cover. Plus, the pumpkins in my garden are looking more and more
0:16.9	like jack-o-lantern fodder by the day. So I say bring on the fall. Yeah, I'm with you. I am
0:21.9	so over just the back-to-back heat waves that we've been experiencing where I live. I just want to
0:27.4	wear a light jacket anytime I go outside. I think I look better in it. Yeah, it sounds nice.
0:31.9	Well, listener, whether you're grasping onto the last bits of summer or you're already drinking pumpkin spice
0:37.7	lattes, even though it's still about 85 degrees where you live. This episode will give you
0:41.7	some tips to prepare your finances for the coziest season of them all.
0:49.2	Welcome to NerdWallet's Smart Money Podcast. I'm Sean Piles. And I'm Sarah Rathner. This episode, Sean and I
0:55.3	are joined later by our co-host, Elizabeth Ayola, to answer a listener's question about how they can
1:00.4	hit their investment goals with a pretty undiversified portfolio. But first, Sarah and I have three
1:06.9	fabulous financial tips for fall. We'll help you pick up the pieces if your finances got a little scattered over the summer
1:13.6	and get you on track to finish the year strong.
1:16.7	This is a great time for a financial reset because summer can be so expensive.
1:21.8	So what should folks do first to prep their finances for the new season?
1:26.0	I would say folks can start by reestablishing
1:28.5	your baseline because it can be easy to get a little lax with your finances and budgeting over the
1:35.0	summer. But now that vacations and summer events are winding down, take stock of what you did
1:40.0	financially this past season. Pull up your budgeting app or a spreadsheet or even your bank and credit card statements
1:46.1	and review what you did with your money.
1:48.8	I realize this can be an anxiety-inducing exercise for some people.
	...

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.