NerdWallet's Smart Money Podcast

Learn how to budget for dropping to one income with a baby on the way. Plus: what's really happening to the 50+ workforce? What's driving the labor force participation rate to a 50-year low — and what does it mean for the more than one million Americans aged 54 and up who are still looking for work? Sean Pyles, CFP®, and Elizabeth Ayoola are joined by news colleague Rick VanderKnyff and Gary A. Officer, president and CEO of CWI Works, to dig into the real challenges facing older workers today. They cover why age discrimination costs the U.S. economy an estimated $850 billion a year, how AI anxiety is hitting older workers in physically demanding jobs hardest, why the barriers to re-entering the workforce after retirement are steeper than most people realize, and what a 27% long-term unemployment rate among older Americans says about who the job market is actually built for. When you're expecting your first baby and planning to leave the workforce, how do you know your finances are truly ready for the shift to one income? Sean and Elizabeth sit down with listener Paige, who has over a year of expenses saved and around $100,000 in retirement funds but is still anxious about the jump. They tackle the specific decisions she's wrestling with: what to do about retirement contributions when one partner stops working, which expenses could be safely cut before baby arrives, whether her current life insurance coverage is adequate for a growing family, and how to build a realistic picture of what her budget could look like once the paycheck disappears this fall. Use NerdWallet's 50/30/20 budget calculator to see how your needs, wants, and savings stack up: https://www.nerdwallet.com/finance/learn/nerdwallet-budget-calculator  Estimate how much life insurance your family could need with NerdWallet's calculator: https://www.nerdwallet.com/insurance/life/learn/how-much-life-insurance-do-i-need  Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hear money lessons from NerdWallet moms and learn how to budget for healthcare on a high-deductible plan. What does motherhood teach you about money? In honor of Mother's Day, hosts Sean Pyles, CFP®, and Elizabeth Ayoola gather money lessons from NerdWallet moms — including Erin El Issa, Amanda Barroso, Kate Ashford, and Pamela de la Fuente — as well as from Sean's mom, Jeanne. They explore the pressure to keep up with influencers and other parents, the costly belief that core childhood memories can be bought, the role allowances play in helping kids feel the weight of their own money, and what becoming a parent reveals about long-term saving. How do you budget for healthcare when your employer switches you to a high-deductible plan and bills are coming in faster than you can build up your HSA? Sean and Elizabeth are joined by personal finance writer Kate Ashford to answer a question from a listener whose routine doctor visit ballooned from a $30 quote to nearly $500 out of pocket. They dig into the triple tax advantages of HSAs, the math behind comparing high-deductible and traditional coverage, why the first year on an HDHP can feel especially brutal, and what to do when medical expenses outpace your savings. Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices