Author: Laura Adams, MBA
Laura Adams, MBA
Laura Adams was named one of Empower's "Top 50 Women in Personal Finance" in 2018. She's one of the nation’s leading personal finance and small business authorities who works as an on-camera spokesperson, voice-over talent, and multimedia creator. She’s written multiple books, and the latest title, Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers, was an Amazon #1 New Release. As an award-winning author and host of the top-rated Money Girl podcast since 2008, millions of readers, listeners, and loyal fans benefit from her practical advice. Laura is a trusted source of practical financial advice for the national media, including TV, radio, digital, and print outlets. She’s been featured on most major network news outlets, Bloomberg, NPR, The New York Times, The Wall Street Journal, The Washington Post, Money, Time, Kiplinger’s, USA Today, US News, Forbes, Fortune, Consumer Reports, MSN, and many more. Her mission is to empower consumers to live healthy and prosperous lives by making the most of what they have, planning for the future, and making smart money decisions every day. Laura received an MBA from the University of Florida. She lives in Vero Beach, Florida, with her husband. Visit LauraDAdams.com to learn more.
If you want to become wealthy, an essential habit you should create is regularly investing a portion of your income in a tax-advantaged retirement account. You may have an excellent option at work, like a 401(k) or 403(b). If not, there are individual retirement accounts or IRAs and self-employed retirement plans you can open and contribute to on your own. The years you have to invest money for the future is called the accumulation phase. But at some point you’ll want to take money out, or be forced to take it out, in some cases, which is the withdrawal phase…
Being a homeowner has its pros and cons. It can help or hurt your finances depending on your location, mortgage debt, property taxes, insurability, and goals. The joys include having a place to call your own and the chance to build equity. According to a 2024 report, the average homeowner has just under $300,000 in home equity, with $193,000 available to be tapped, the highest amount on record. If you’re a homeowner watching your equity grow, you might wonder if you should dip into it with a home equity line of credit or HELOC. This post will review what a…
A listener named Wasittha asked me the following question: “I’ve been trying to max out my IRA and 401(k). However, I’ll be unemployed next year for a while–hopefully not for too long. Since I started my own business early this year, can I invest in a SEP-IRA instead of a 401(k), and how much? Please explain SEP-IRAs since I’m new to being my own boss and have only earned a few thousand dollars. Thank you very much, and keep doing what you are doing! I tell everyone about you, and we love hearing your voice on the podcast!” Thanks for…
If you’re a homeowner or want to be one someday, there will likely be a time you want or need to sell your real estate. So, it’s essential to understand various ways to sell a home and their costs, so you do it as profitably as possible. Today’s topic was inspired by a recent question from Scott in Florida, who says: “I live in an old house on the Gulf Coast that needs a lot of repairs, like a new roof, windows, and upgrades to the kitchen and bathrooms. I’ve paid for many updates over the years but can’t afford…
If you’ve ever been envious of someone getting free money in their retirement account from an employer that “matches” contributions, you might be interested in how to qualify for matching without an employer! Even if you get employer matching, an IRA match is a nice extra benefit to boost your retirement account. This post will explain how individual retirement account (IRA) matching works and where to find an IRA that offers it. So, stay with me if you like the idea of getting free money to grow your retirement nest egg! What is an IRA match? An IRA match is…
Today’s topic comes from Scott, who says: “I’ve contributed to my 401(k) for many years and have a decent balance. I’m unsure if I should keep investing the same amount each year or make some sacrifices and contribute more. My question is, how do I know if I’m saving enough for retirement?” Scott, thanks for your question! Knowing if you’re on a path to financial success is critical for staying motivated and making wise decisions. This post will review ways to understand how much you need to save for retirement and if you’re on track to achieve it. How much…
If you’re like me, you love the idea of having tax-free income in retirement. The primary way to do that is by investing in Roth retirement accounts. Having more money in a Roth is terrific because the account growth is never taxed, if you follow some basic rules. However, the problem is that Roth IRAs have income limits prohibiting high earners from contributing. But there are some easy options and workarounds to consider. This post will review Roth benefits and four ways to boost your Roth investments regardless of income. What is a Roth IRA? Unlike a pre-tax, traditional IRA,…
Hi again! As you know, on the Money Girl podcast I answer your burning money questions! Today’s topic comes from Mary, who says: “I know that I need to invest for the future but really don’t know where to start. My job doesn’t offer a retirement plan. Can you give tips for how a complete novice can start investing without taking a lot of risk?” Mary, I appreciate your question because investing can initially seem complicated and risky. But I promise it’s easy to start slowly and without taking too much risk. This post will review the steps anyone can…
Philanthropy for everyone Most of us would like to give more to causes we care about, whether animal welfare, the environment, or curing a disease. However, you may have issues holding you back from giving, like your budget, finding the right charitable organizations, or understanding how to maximize charitable tax breaks. On the Money Girl podcast, episode 862 this week, I’m excited to be joined by two special guests from The Center for Effective Philanthropy (CEP). The first is Phil Buchanan, President of CEP and a passionate advocate for the importance of philanthropy. He’s an award-winning author of Giving Done…
Whether your bank account balance was low, you forgot to make a payment, or the mail arrived late, missing a due date on a credit card or loan feels terrible. If you don’t take quick action, a late payment can negatively affect your finances for years to come. This post will explain what happens when you make a late payment, how your credit gets affected, and tips to minimize potential damage. Plus, I’ll answer a question from a long-time Money Girl Podcast listener named Daniel S., who’s trying to help his daughter boost her credit after missing several payments. How…