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.
 We have two great retirement questions today. The first comes from Kevin, who says, “My wife and I have loved your podcasts for years and are taking every possible step to build our financial futures. We’re in our early thirties and max out our Roth 401(k)s by contributing 25% of our paychecks. If we struggle to maintain savings for emergencies and a new car, do you think we’re investing too much?” The second question is from Michael M., who says, “I have been listening for many years, and you deliver good advice in a very understandable way. I have a…
The time value of money, or TVM, is a fundamental concept that affects your financial planning and investment success. Whether you’re considering borrowing, saving, or investing, understanding TVM helps you make better money decisions. This post will review the time value of money, why it matters, and how to calculate your investment returns. What is the time value of money (TVM)? The time value of money is the concept that a dollar today is worth more than a dollar tomorrow. For instance, if you’re paid $1,000 now, it’s more valuable than getting paid $1,000 in a year. That’s because you…
If you’re like many people, you’d jump at the chance to retire early with plenty of time and money to pursue the lifestyle of your dreams. While accumulating enough wealth by 65 or 70 to last your lifetime is challenging, early retirement is an incredibly ambitious goal. This post will review the FIRE movement, which stands for financial independence, retire early. You’ll learn several strategies to become financially free and pursue your unique retirement dreams. Check out episode 827 where Laura reviews five options for managing your retirement account with an ex-employer. Listen in the player below:  What is FIRE…
If you plan to see your primary residence, will you have to pay taxes on your home sale? What are capital gains and losses? First, let’s review capital gains and how they relate to home selling. You probably know that you pay ordinary income tax when you earn money from a job or interest on a bank account. Additionally, when you sell certain assets and have a profit, you must pay capital gains tax. You have a capital gain when you sell a capital asset, such as stocks, mutual funds, exchange-traded funds, or real estate, for more than it costs.…
Whether you’re new to investing or have been at it for decades, following some tried and true rules can give you more confidence, reduce risk, and make you more successful. This post will review ten investing rules you should know and use to achieve your financial goals. 10 Rules for Successful Investing You Should Know Use these rules to build more wealth through successful investing strategies and principles. Know your financial big picture. Before you fork over money for an investment, you must understand your financial situation and how investing should (or shouldn’t) fit into it. For instance, do you…
Whether you’re a Bitcoin enthusiast, believe it’s a scam, or aren’t sure what to think about cryptocurrency, it’s wise to learn more about it. The idea of cryptocurrency has existed for about 40 years, but it became a reality in 2009 when the first Bitcoin was created. This post will review Bitcoin’s history, an upcoming event known as a halving, and why the cryptocurrency is controversial. What is the history of Bitcoin? We’ve talked about Bitcoin for beginners on the Money Girl podcast, but here are some highlights in Bitcoin’s history: In 1983, David Chaum, an American cryptographer known as…
A Money Girl listener named Eric says, “I really appreciate listening to your show and all the great information you give. I have a question regarding contributions to my Roth IRA. Some argue it’s best to make equal monthly contributions to take advantage of dollar-cost averaging. Does it make a difference whether I contribute to my Roth IRA monthly or do one lump contribution yearly when I have the money to max out the account?” Thanks for your great question, Eric! This post will answer it by reviewing what dollar-cost averaging (DCA) is, its pros and cons, and how it…
A Money Girl listener says, “Hi Laura, my name is Hannah, and I’m from the great state of Maine. I was wondering if you could talk about high-yield savings accounts, what to use them for, and if you have any personal recommendations?” Jane F. says, “Hello Laura, I’m a new listener to your podcast and truly enjoy your shows. I have $5,000 to invest for short-term gains, like five years, and CDs are the only investments I know of. Can you advise on other investment options I should explore?” Thank you for those great questions, Hannah and Jane! This post…
From expensive over-the-counter medications to prescription drugs to high copayments when you see the doctor, healthcare costs can take a massive bite out of your budget. Fortunately, there are ways to cut those expenses using various tax-advantaged plans and medical savings accounts. This post will review a terrific benefit an employer of any size can offer: a health reimbursement arrangement (HRA), also called a health reimbursement account. I’ll explain how HRAs work, how they’re different from other options like an FSA and HSA, and how I use one to cut the cost of healthcare and save more money. What is…
Regularly investing using one or more tax-advantaged retirement accounts is wise if you want a financially comfortable retirement. I’m a big fan of individual retirement accounts or IRAs because they’re available to just about anyone, regardless of age. You could be a teenager with a job, an employee of a small company that doesn’t offer a retirement plan or even an unemployed spouse of a breadwinner and still qualify for an IRA. Is it better to have a traditional IRA or ROTH IRA? However, understanding the differences between a traditional and a Roth IRA and which one is right for…