As a society, we now pit "anti-work" against "grindset mentality"—but we might actually be in a stage of self-defeating overcorrections at this point, including questionable trends like TradLife and Stay at Home Girlfriend Tok. In this week's episode, we cover the pros and cons of both hustle culture and quiet quitting, how employee stock ownership programs might help, and what a better balance between the two might be. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, CFA Institute: https://www.cfainstitute.org/en/programs/cfa Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about Betterment: http://www.betterment.com/moneywithkatie Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Range by David Epstein: https://bookshop.org/a/90396/9780735214507 "The Secret to Conventional Success We Don't Talk About": https://moneywithkatie.com/blog/conventional-success-secrets "On Meaningless Careers" by Jack Raines: https://www.youngmoney.co/p/meaningless-careers "Gen Z Does Not Dream of Labor" from Vox: https://www.vox.com/the-highlight/22977663/gen-z-antiwork-capitalism Wealth inequality in the 2010s: https://news.yahoo.com/super-richs-wealth-concentration-surpasses-gilded-age-levels-210802327.html Laura Pitcher in Vice: https://i-d.vice.com/en/article/93a3we/slow-living-tiktok-trend Zoe Hu in Dissent Magazine: https://www.dissentmagazine.org/article/the-agoraphobic-fantasy-of-tradlife Chelsea Fagan on "Quiet Quitting": https://www.youtube.com/watch?v=oh9CRz2dk-Q&ab_channel=TheFinancialDiet Haley Nahman on Not Caring About Your Work: https://haleynahman.substack.com/p/145-not-caring-about-your-job-freedom Kim Jordan of New Belgium Brewing and their employee stock ownership program: https://www.inc.com/magazine/202009/graham-winfrey/new-belgium-brewing-kim-jordan-esop-b-corp-acquisition-exit.html — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

One listener writes in that her retirement accounts haven't really grown over the past few years—so what's a Rich Girl to do? Katie and Henah chat through the last several years of returns and the economy, what to watch out for, and actions to consider for better results. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. — Mentioned in the Episode: Portfolio Visualizer: https://www.portfoliovisualizer.com/ — Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

How can money make your life better? More fulfilling? Happier? To answer the question, I invited a very special guest on the show: the one and only Ramit Sethi, of How to Get Rich of Netflix fame. (And, of course, his bestseller, I Will Teach You to be Rich.) We discuss everything from business to personal finance philosophy to why he’s not afraid to be outspoken online. Plus, he shares helpful tips on seeing money as an opportunity, how to spend and not just save, and more. I love all my guests, but…this interview is up there for me. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about the CFA Institute: https://www.cfainstitute.org/en/programs/cfa Learn more about Betterment: http://www.betterment.com/moneywithkatie Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode I Will Teach You to be Rich: https://bookshop.org/a/90396/9781523505746 How to Get Rich on Netflix: https://www.netflix.com/title/81410436 — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

Our episode on the myth self-made millionaires (linked below) stirred up quite the conversation online—Katie and Henah chat through a few listener critiques that were sent in response. What do you think? Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. — Mentioned in the Episode: "Are Most Millionaires Actually Self-Made?": https://link.chtbl.com/4Cx-Hbo_ Why Are We Obsessed with Rich People Who Drive Old Cars? https://moneywithkatie.com/blog/why-are-we-obsessed-with-rich-people-with-old-cars — Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

Today, we're breaking down every. single. aspect. worth considering when you’re deciding between Traditional and Roth contributions in your 401(k), because making the “right choice” can mean a difference of hundreds of thousands of dollars in a few decades. So, what’s a Rich Girl to do when faced with a slew of retirement plan options and a dream? By the end of this episode, you’ll feel confident in your choice. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about the CFA Institute: https://www.cfainstitute.org/en/programs/cfa Learn more about Betterment: http://www.betterment.com/moneywithkatie Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode How to Pay No Taxes in Early Retirement: https://link.chtbl.com/9nugZS3C Traditional vs. Roth breakdown: https://docs.google.com/spreadsheets/d/1pDXtuOBV5o_hyxVvlIzienhKbuE0ajGaj8mvPWGBOGM/edit#gid=0 — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

Sometimes we all need a little nudge to make the best financial decisions for ourselves. In this week's episode, Henah recounts how Katie helped her max out her 401(k) contributions, overcome her psychological hangups about "making less per paycheck," and how she's feeling about it now. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

Rich Girl Taylor Kay Phillips is spilling all the tea on the Hollywood writers' strike—and giving us the inside scoop on a career in writing for television. We also cover the broader implications of negotiating for a fair wage, including a few tactics to try when you're exploring a dream job. For more negotiation tips: Check out this week's blog post for tactics specific to salaried workers: https://moneywithkatie.com/blog/salary-negotiation-tactics-for-increasing-income Check out this week's YouTube video, where we unpack the tactics mentioned in this episode in more detail: https://www.youtube.com/watch?v=FQDcsgLCfUg Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about our sponsor, Betterment: http://www.betterment.com/moneywithkatie Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode The Writers' Strike Deadline Is Here, from The Town with Matthew Belloni: https://podcasts.apple.com/us/podcast/the-town-with-matthew-belloni/id1612131897?i=1000611351559 The 2007 writers' strike and the economic impact: https://www.vox.com/culture/23696617/writers-strike-wga-2023-explained-residuals-streaming-ai Zendaya's salary negotiation for Euphoria: https://www.gq.com/story/zendaya-euphoria-season-3-one-million-dollars-per-episode-salary — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

Join us this week for a frank discussion about the things we wish we wouldn't have bought—and the stuff we wish we would've spent more on. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode The Money with Katie Show: Is Pet Insurance Worth it?: https://youtu.be/co9b8Vh_Rfs How to Travel for Free in 2023: https://podcast.moneywithkatie.com/how-to-travel-for-free-in-2023/ - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

I’m so proud of the work the team did to develop and produce this episode. Typical personal finance advice works particularly well for people in a certain position (with good salaries, education, or inheritances), but it’s mostly useless if you’re not earning enough to make ends meet. To make matters more complex, the way some government assistance programs currently work can paradoxically make it harder to get ahead in the long term. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about The CFA Institute: https://www.cfainstitute.org/en/programs/cfa Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Oxfam America Study on the Low-Wage Workforce: https://www.brookings.edu/research/meet-the-low-wage-workforce/ Women’s workforce participation: https://www.brookings.edu/wp-content/uploads/2022/03/SP22_BPEA_Goldin_conf-draft.pdf 97% of US Child Care workers are women: https://finance.yahoo.com/news/child-care-challenges-women-workforce-131402101.html Center for American Progress on Childcare Deserts: https://childcaredeserts.org/2018/ Video Clip from Netflix series Maid: https://youtu.be/vM30cS-NZZU Julie’s Family Learning Program: https://www.juliesfamily.org/our-founding-history/ Multnomah County Preschool for All Program: https://www.multco.us/finance/multnomah-county-preschool-all-personal-income-tax# The Oregonian on the importance of attending pre kindergarten: https://www.oregonlive.com/education/2022/12/free-preschool-delayed-for-thousands-of-oregon-children-due-in-part-to-staffing-shortages.html Full Department of Treasury Report on Childcare: https://home.treasury.gov/system/files/136/The-Economics-of-Childcare-Supply-09-14-final.pdf — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

What advice would we go back and tell ourselves in our early 20s, and how has our perspective on money changed as we approach our 30s? Katie and Henah chat through 10 tips they'd share, from intimately understanding your spending to prioritizing experiences to saving for childcare costs long-term. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode The importance of starting to save early for retirement: https://moneywithkatie.com/blog/more-money-retirement-financial-literacy Consumption theory: https://www.britannica.com/topic/consumption/Consumption-theory - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

CARDS MENTIONED IN THIS EPISODE, IN ORDER: http://www.moneywithkatie.com/2023travel If you’ve ever wanted to take a more intentional approach to your credit cards and travel (or just tune up an existing approach!), this week’s episode is a must-listen.  File “travel rewards” under the “sounds too good to be true but isn’t” category, with the major caveat that it’s a little like playing with fire: As long as your spending habits aren’t flammable, you stand to gain a lot. We called in travel rewards pro Benét Wilson—former Senior Cards Editor at The Points Guy and freelance aviation journalist—to weigh in and pressure-test our Money with Katie strategy, because this landscape is always changing—and the episode made me realize there’s at least one hotel card I need to consider adding to my wallet lineup. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Learn more about The CFA Institute: https://www.cfainstitute.org/en/programs/cfa Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Money with Katie's 2023 Travel Rewards Strategy: http://www.moneywithkatie.com/2023travel How to Travel For Free 101 Series: https://www.morningbrew.com/money-with-katie/subscribe/travel-rewards-101 The Points Guy's 10 Commandments of Credit Card Rewards: https://thepointsguy.com/guide/ten-credit-card-commandments/amp/ Rich Girl Roundup on how credit works: https://link.chtbl.com/QXmxdYU_ How TPG staffers track their credit card miles/points: https://thepointsguy.com/guide/tpg-strategies-track-points-miles-cards/amp/ Chase 5/24 rule: https://thepointsguy.com/guide/ultimate-guide-chase-5-24-rule/ Chase Sapphire sign-up bonus: https://financebuzz.com/chase-sapphire-48-month-rule How to redeem points: https://thepointsguy.com/credit-cards/airlines/beginners/ Cash or points for travel? Here's how to decide: https://moneywithkatie.com/blog/cash-or-points-for-travel The Points Guy calculator: https://thepointsguy.com/calculator/ Chase transfer partners (as of April 2023): https://www.nerdwallet.com/article/travel/chase-transfer-partners-guide American Express transfer partners (as of April 2023): https://thepointsguy.com/guide/membership-rewards-partner-guide/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

Whether you receive an inheritance or win the lottery, they can both be treated like receiving new income. Katie and Henah chat through what they would do with a big lump sum, including paying off debts, investing in experiences and companies, and if Katie would continue to rent. 👀 Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode Inheritance taxes: https://turbotax.intuit.com/tax-tips/estates/what-are-inheritance-taxes/L93IUc3sC Estate taxes: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax Treading lightly on unexpected income: https://podcast.moneywithkatie.com/how-to-deal-with-unexpected-expenses/ - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

“Dude, why is being alive so expensive?”—an actual sentence I said aloud to Henah back in January when my dog needed surgery, my husband and I got a giant tax bill, Henah’s travel insurance wouldn’t come through, and a formerly in-network doctor informed her she owed them a large sum since they were now (surprise!) out-of-network. (USA! USA!) One of the rudest awakenings of adulthood is the realization that simply paying for the boring stuff eats up a lot of your income, which can be incredibly demoralizing when you’re trying to make progress. So which tactics (both financial and psychological) can help you plan for the mundane or unexpected? Will this ever stop, or do your financial problems just scale proportionally with your net worth? Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off. Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Money with Katie blog, "Being Poor is Expensive": https://moneywithkatie.com/blog/the-paradox-of-riches-being-poor-is-expensive Preventive care services in the US: https://www.healthcare.gov/coverage/preventive-care-benefits/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

A listener asks, "How can I plan for my parents' later years in life, and how can I start that conversation?" Katie and Henah reflect on conversations they've had with their own families, what to do (hint: prep a life audit!), and caveats to consider. (And, if you want us to go into this topic more in-depth, email us at moneywithkatie@morningbrew.com!) Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode 92% of Americans say it's important to discuss wishes for end-of-life care, but only 32% of had the conversation, per The Conversation Project: https://theconversationproject.org/about/ Where to start with end-of-life planning with loved ones: https://www.vox.com/even-better/23378958/end-of-life-planning-elders-parents-grandparents-loved-ones - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

When Amazon Prime dropped the LuLaRich documentary in 2021, it was one of the first times the population at large got to peek behind the curtain at one of the largest multilevel marketing companies in the world—and boy, did it take internet voyeurs by storm. The timing of (and snark generated by) such an explosive exposé was especially interesting, given the other pyramid scheme-y thing playing out in 2022: NFTs, shitcoins, and meme stocks. It feels like we should’ve learned our collective lesson by now—but are the get-rich-quick schemes that plague our DMs and Twitter feeds evolving faster than we are? What’s a Boss Babe to do? Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off. Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode Amanda Montell's Cultish: https://bookshop.org/a/90396/9780062993151 LuLaRich: https://www.amazon.com/LuLaRich-Season-1/dp/B09CFXPNSX LuLaRich trailer: https://www.youtube.com/watch?v=mIkcrQzTr8w&ab_channel=AmazonPrimeVideoUK How LuLaRoe worked: https://www.youtube.com/watch?v=4411N0nAELY&ab_channel=AmazonPrimeVideoUK The Sam Dee on YouTube, sharing their experience as a LuLaRoe retailer: https://www.youtube.com/watch?v=u-TO2-d10S0&ab_channel=TheSamDee The Dream podcast: https://podcasts.apple.com/us/podcast/s1-e1-wanna-swim-in-cash/id1435743296?i=1000420324159 The Airplane Game from the 1980s: https://apnews.com/article/7894d03521da555b7ea45e6f78323fbb "Blessing Loom" scam alert: https://www.bbb.org/article/news-releases/22255-bbb-scam-alert-easy-money-blessing-loom-nope-pyramid-scheme Benjamin M. Friedman's Religion and the Rise of Capitalism: https://bookshop.org/a/90396/9780593311097 Protestant ethic, per the Encyclopedia Britannica: https://www.britannica.com/topic/Protestant-ethic James Jani on YouTube, sharing about the prosperity gospel: https://www.youtube.com/watch?v=hTfKpAWkgJY&t=771s&ab_channel=JamesJani — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

Understanding credit can be tricky—but it's an invaluable part of our financial toolboxes since it affects our ability to buy a home, access loans, etc. Katie and Henah break down the history of credit, how it works, tips to keep in mind while building your credit score, and more. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode Consumer Finance statistic on 26M Americans being credit invisible: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-finds-26-million-consumers-are-credit-invisible/ How Your Credit is Calculated: https://www.equifax.com/personal/education/credit/score/how-is-credit-score-calculated/ Annual Credit Report: https://www.annualcreditreport.com/index.action Credit Karma: https://creditkarma.com/ How to Save for Your Child's Future: https://link.chtbl.com/u7JzWqOz - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

Bill Bengen, who established the 4% safe maximum withdrawal rate (the rule on which most of financial planning relies), is a straight shooter, and his perspective on whether or not we’re currently in uncharted waters surprised me. But fear not—there’s a little-discussed element of planning for early (as well as regular!) retirement that might be our saving grace. We’ll unpack that, too. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode The 4% Rule by Bill Bengen: https://www.retailinvestor.org/pdf/Bengen1.pdf Our previous episode on the 4% Rule: https://podcast.moneywithkatie.com/the-most-dangerous-misconceptions-about-the-4-safe-withdrawal-rate/ — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

Whether it's for tuition expenses or weekly allowances, Katie and Henah chat through short-, middle-, and long-term strategies on saving for your children's future, including the 529, Roth IRA, and UGMA/UTMA for minors. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode Previous RGR on Teaching Kids About Money: https://youtu.be/Y2Y-cOAKBuM Best Debit & Credit Cards for Kids (updated monthly): https://www.businessinsider.com/personal-finance/best-debit-card-for-kids The 529 (Qualified Tuition Programs): https://www.irs.gov/taxtopics/tc313 UTMA & UGMA for Minors: https://www.nerdwallet.com/article/investing/utma-ugma - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie

“Luck” is where opportunity meets preparation, right? Fantastic financial outcomes are the culmination of a lot of factors coalescing in a very specific way, but we tend to only focus on one: effort. So much American lore (and by extension, American…personal finance advice?) is constructed on the foundation of the self-made meritocracy.  One such “statistic” that often gets touted in these conversations: Somewhere in the ballpark of 88% of US millionaires are “self-made.” But where does that figure come from? How was it determined? And where do its implications fall dangerously short? We chat with Shannon McNamara, host of the Fluently Forward podcast, all about it. Learn more about our sponsor, Vin Social: https://www.vinsocial.vip Learn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatie Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Transcripts can be found at podcast.moneywithkatie.com. — Mentioned in the Episode The Fluently Forward podcast: https://podcasts.apple.com/mk/podcast/fluentlyforward/id1589952385 Here's How 9 Billionaires Start Their Mornings, per Insider: https://www.businessinsider.com/billionaire-morning-routine-mornings-oprah-zuckerberg-bezos-musk-buffett-gates-2019-1 A History of Hating the Rich for the Saturday Evening Post: https://www.saturdayeveningpost.com/2020/02/a-history-of-hating-the-rich/ "88% of all millionaires are self-made," per US News: https://money.usnews.com/money/blogs/on-retirement/articles/7-myths-about-millionaires 2017 Fidelity Investments Study: https://institutional.fidelity.com/app/proxy/content?literatureURL=/9884619.PDF The National Study of Millionaires from Ramsey Solutions: https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research US Bureau of Labor Statistics on inheritances: https://www.bls.gov/osmr/research-papers/2011/pdf/ec110030.pdf Hailey Baldwin Bieber on the Forbes 30 Under 30: https://people.com/style/hailey-bieber-lands-cover-of-forbes-30-under-30/ Kendall Jenner on work: https://www.refinery29.com/en-us/2018/08/207820/kendall-jenner-modeling-comments-response Kendall Jenner on "having to fly all over Europe:" https://www.the-sun.com/entertainment/6416481/kendall-jenner-kardashian-out-touch-delusional-modeling-career/ Elon Musk on now-deleted Forbes article on his father's emerald mine: https://web.archive.org/web/20140802011449/http://www.forbes.com/sites/jimclash/2014/07/28/elon-musk-tells-me-his-secret-of-success-hint-it-aint-about-the-money/ 90% of millionaires are male: https://www.verdict.co.uk/90-percent-millionaires-male/ 8 Ways Rich People View the World Differently: https://www.cnbc.com/2016/10/11/8-ways-rich-people-view-the-world-differently-than-the-average-person.html — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew

One reader asks when is going to "off-brand" providers worth it (i.e., switching to Mint Mobile from a legacy provider, as Katie has). Katie and Henah chat through what to look for instead, what's worth keeping "on brand" for, and their own real life examples (Louis Vuitton vs. Coach, All Clad vs. DTC cookware brands, etc.). Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie