the 411k

103. Stock Market Check In

money mindsets, Podcast

Liz Young is SoFi’s Head of Investment Strategy, responsible for providing economic and market insights to a variety of audiences. Prior to joining SoFi, Liz was the Director of Market Strategy at BNY Mellon Investment Management where she formulated and delivered views on macroeconomic themes and their effects on capital markets. She is a CFA Charterholder, and member of the CFA Institute and CFA Society of New York. Liz is also the host of The Important Part: Investing With Liz Young, a podcast from SoFi, which takes listeners through today’s top-of-mind themes in investing and breaks them down into digestible and actionable pieces. 

Liz joins The 411k to talk about the current state of the market given inflation, Fed rate changes, and a looming recession. She also talks about the importance of taking healthy risks when it comes to investing because often, the best way to learn is to try, fail, and try again.

Here are some of the statistics we shared in this episode:

28% of women feel confident about investing some of their money

74% of retail investors say they would likely invest more if they had more opportunities to learn about investing

40% of non-investors chose not to invest because they did not know how to do so or found it too confusing

50% of women believe investing is a high-risk endeavor

Women in the U.S. believe they need $6,000 of disposable income each month or $72,000 per year before they can begin investing.

100. Reclaiming Confidence with Nicole Kalil

career development, Podcast

Nicole Kalil is a confidence sherpa, an in-demand speaker, leadership strategist, respected coach, and host of the “This Is Woman’s Work” Podcast. A fugitive of the C-suite at a Fortune 100 company, she has coached hundreds of women in business, which has given her insight as to what – structurally, systemically and socially – is and isn’t serving women and leaders within an organization.

Nicole joins The 411k to discuss her new book “Validation is for Parking” which is all about confidence! We really enjoyed this shame-free discussion about confidence – what it is, what it isn’t, and how to build it – and we hope you will to.

099. A Year in Review

Podcast

Another one bites the dust! Katie and Katherine discuss the life events and big financial moves that we’ve made over the last year. As a reminder, we are not know-it-all experts. We are living and learning as we go. In this episode, we share some successes, some strange turns, and a few mistakes that got us through this year.

095. Like Mother, Like Daughter

Podcast

Rachel and Rebecca Pino are a mother and daughter duo providing women with sound financial advice. Rachel (the mom of the duo) runs her family’s financial firm as CFO. Raising Rebecca, she instilled financial advice in her daughter. In between sharing family money stories, Rebecca and Rachel teach us how to shop for a financial planner and what mistakes to avoid when it comes to retirement planning.

For more information about financial planning for retirement, check out our blog with Money Her Way.

094. Sinking Funds

Podcast, WTF is
Millennial money coach, Farrah Turcotte, joins The 411k to talk sinking funds. She shared her strategies for keeping her budgets in check while still offering herself the grace to make mistakes. From every day spending to big life event type expenses, Farrah teaches us how planning ahead and using sinking funds can help us take control of our finances.

092. First Hustle Then Brunch

Entrepreneurship, Podcast
Jazzy Thatch, founder of First Hustle Then Brunch, joins The 411k to talk about side hustles. We have a lot of questions about hustle culture including where to start and how to balance it all. Jazzy has tried a lot of different jobs so she shares from personal experience what works and what doesn’t.

090. Money & Happiness

money mindsets, Podcast

We talk a lot on the show about how emotional money can be and we hear a lot about money shame, guilt, and grief. But today we want to talk about happiness! Melissa Leong, author of Happy Go Money, joins The 411k to talk about how happiness and money are intertwined.

Melissa challenges Katie, Katherine and the audience to answer two questions…

(1) On a scale of 1 to 10, how happy are you right now? (10 being the happiest)

(2) How much money would you need to become a 10?

Tune in to hear what research shows about these questions!

073. Scrappy Investing with Amanda Holden

Podcast, WTF is

Amanda Holden, aka Dumpster Doggy, joins The 411k to get real about investing. Starting at 21, everyone is telling you to start putting money into a retirement account. Yes, we know that we are in a retirement crisis but there is so much more that we can learn about how to make our investments work for us. Amanda makes money fun and relatable so tune in to learn more about how to better understand how investing works.

069. Negotiating the Job Offer

career development, Podcast

Danielle Evans, aka Dollars with Dani, joins us to share her wisdom on how to research market salaries and negotiate a job offer to get what you want. The job market is hot right now and economists are calling this period The Great Resignation. With people transitioning jobs in record numbers, it is critical to know how to negotiate for appropriate compensation. Don’t miss these tips from an HR insider and money coach!

049. An Abundance Mindset with Leisa Peterson

money mindsets, Podcast

We are so grateful to have Leisa Peterson join us to talk about scarcity and abundance. No matter how much money we end up earning, saving or investing, deep inside we can still hold on to a sense of lack and deficiency about who we think we are. Leisa Peterson shares some insight into her 7 Step Prosperity Ladder to help us develop an abundance mindset. Check out this episode as well as her book, The Mindful Millionaire, to learn more!

048. Her Two Cents with Charlotte Cowles

Podcast

Charlotte Cowles writes My Two Cents, a weekly column about money, for New York Magazine’s The Cut. She joins us to talk about her transition from a stable job with benefits and a salary to working for herself as a freelance writer. Tune in to learn more about how she is offering comfort and advice to those who write to her during the pandemic and it’s constant instability.

037. Healthy Financials and Healthy Births

Podcast

GUEST: OLIVIA FRIEL

Olivia Friel is a mama, birth and postpartum doula, and a holistic pregnancy consultant. She is the founder of Healthy Balanced Birth, a platform for expectant mothers, partners, new parents, and birth professionals. She provides her clients with information about pregnancy, birth, postpartum, and parenthood that is specifically catered to their individual needs. She is also the voice behind the Healthy Balanced Birth and Beyond Podcast – a safe space dedicated to sharing stories and resources about everything within the birth space, specifically topics that are not talked about enough. 

KEY TAKEAWAYS:

Note: These numbers are averages as of August 2020 and vary by state and hospital.

Having a baby in Massachusetts on averages costs:

Vaginal birth with insurance: $7,741.64
Vaginal birth without insurance: $14,549.03

C-section with insurance: $11,012.54
C-section without insurance: $19,879.60

Hospitals generally charge more! On average, hospitals charge $15,000 for vaginal delivery and $30,000 for a c-section!

Home births range from $1,500 to $3,000 paid directly to the midwife.

On average, other expenses including supplies, labs and doula can add on an additional $2,000. An epidural costs on average $2,100.

Prenatal Testing such as ultasounds cost on average $280. CVS testing for abnormalities and chorionic villus sampling can cost $1,300 to $4,800. For high risk pregnancies, amniocentesis can cost $1,000 to $7,200.

014. Playing Fair with Eve Rodsky

Podcast, Relationships

Economic inequality is out of control. We live in a world where the most essential work in the household and family is unpaid and underpaid work done primarily by women and girls. The annual monetary value of unpaid care work for women aged 15 and over globally is $10.8 trillion.

Eve Rodsky’s book Fair Play encourages shared responsibility of the invisible work at home. Check out our episode with Eve to learn more about how Fair Play can rebalancing the emotional workload and create a more equitable balance of care with your partner.

There are NO studies supporting the notion that women are inherently better multi-taskers or have better executive brain function, and yet this message is pervasive among women. We all have 24 hours in a day and my time is equal to yours. In Fair Play, Eve Rodsky devotes an entire chapter to unpacking “toxic time messages” and gives suggestions for reframing these messages. It’s time to invite men to the table in a collaborative way into a system with context and clearly defined expectations.

Fair is not necessarily equal. The emphasis on “50/50” can lead to  resentment and disappointment when things are not “equal.” Fair Play is focused on fairness — not tit-for-tat scorekeeping. Most couples care far less whether tasks are split 50/50 in the household, and far more on whether their partner performs full Conception, Planning, and Execution of those responsibilities that they hold with competence and care.

Conception: “You notice that you’re low on mustard, and in your mind you know that your partner really loves mustard on a hot dog.”

Planning: “Then, because you notice that the mustard is low, you pick up a pen, and place mustard on your grocery list.” 

Execution: “Then, someone has to get their ass to the grocery store and pick up the mustard.”

Don’t hesitate to take on a new responsibility! Hand over the Dishes card and take on the role as Money Manager! There are so many resources available for women to learn what they need to take on this role in their relationship. The Money Manager card tends to be the one that men take and it tends to have a lot of control and power associated with it. Switch it up ladies! More and more studies have shown that millennial women still defer to their partner to own the money management in the relationship. However it is critical for women empowerment to have women actively participate in the economic markets. You can do more than manage the household budget and pay the bills. Talk to your financial advisor. Learn about investing. Prepare yourself for retirement. We challenge you to take on the Money Manager role in your relationship. 

Finally, we must reclaim our time. It may seem like a fairy tale to carve out time for your passions. Whether that’s getting back to playing piano again or researching the business idea that you’ve back-burnered, EVERYONE has permission to be interesting and interested! Be more than the role of parent, spouse and worker. Many women feel like they don’t have time to go to the dentist, let alone find time for self care… BUT you can. Eve Rodsky calls this “Unicorn Space” and through her research, she found over and over again that women and men were reporting true joy when they claimed their Unicorn Space without guilt and shame. And it is not reserved for the rich.

Check out our episode with Eve Rodsky to learn more about her book Fair Play and how to start reclaiming your time.