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NerdWallet's Smart Money Podcast

‘The Color of Wealth’: Investing for Your Family's Future

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2665 Ratings

🗓️ 16 February 2023

⏱️ 27 minutes

🧾️ Download transcript

Summary

There are many ways for Black women and mothers to invest to build wealth for their families. Choosing the one that fits best can be a challenge, especially when you have competing priorities. In this episode, we explore different methods to invest, including various retirement accounts and 529 college savings accounts, and how to decide whether to save for yourself or your children when money is tight. 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

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0:00.0

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0:27.1

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0:46.6

Welcome to the NerdWallet Smart Money podcast, where we typically answer your personal finance questions and help you feel a little smarter about what you do with your money, and Sean Piles.

0:55.3

This episode, we are continuing our series called The Color of Wealth, where personal finance nerd Elizabeth Ayula talks with money experts about how black women can build wealth, including the challenges they face and how to balance motherhood and money goals. Welcome back to

1:01.2

smart money, Elizabeth. Thank you for the warm welcome, Sean. I'm happy to be here. Who are you talking

1:06.8

with this episode? Well, today I am speaking with Bola Socumbi, who happens to be the founder and

1:13.4

CEO of Clever Girl Finance, which is a financial education platform that provides women with

1:19.2

financial guidance that will hopefully steer them towards financial independence. Bola also happens to be

1:25.4

a certified financial education instructor and a four-time best-selling author of the Clever Girl Finance Book series and choosing to prosper.

1:34.4

So today, Bala and I are going to explore strategies that black moms can use when it comes to building wealth for themselves or for their kids as well.

1:42.8

Great. I also want to mention that Bola was on the very first episode of our nerdy book club series.

1:48.4

If folks have not checked that out, we'll have a link to it in this episode's show notes post.

1:52.7

You can find that at nerdbawl.com slash podcast. Also, I wanted to give our listeners a heads up that

1:58.2

for this interview, Bola talked with us from her office,

...

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