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.
Creating your own definition of success and being proactive about reaching it is a surefire way to accomplish more with your money. 13 Things You Must Do for More Financial Success No matter your money goals, use these 13 tips to build more wealth and financial stability. Protect your ability to earn an income. Protecting your income or creating additional sources of income is probably the best thing you can do for more financial success. Not only does an extra income stream help you pay the bills and eliminate debt faster, but it allows you to stay safe if one…
What is a 401(k)? A 401(k) is a popular type of tax-advantaged retirement plan that an employer can offer. And if you’re self-employed, you may choose a similar account called a solo 401(k). They allow you to contribute a portion of your paycheck or self-employment income and select investment options, such as mutual funds and exchange-traded funds (ETFs), to accelerate your account growth. With either type of 401(k), you can usually choose a traditional or Roth account. Traditional accounts give you an immediate benefit with tax-deductible contributions, which reduce your annual taxable income and tax liability. You defer paying income…
How do you make the most of an HSA? Jack G. says, “Hi, Laura. I recently enjoyed your finance podcasts on HSAs–thank you! I heard about a unique HSA feature allowing me to buy qualified items, save receipts, and reimburse myself later, potentially growing my HSA dollars tax-free. Could you confirm or elaborate on this?” Jack, thank you for the great question! I’m sure other Money Girl listeners and readers would like to know more about optimizing a health savings account or HSA. I’ll answer your question, review which health plans qualify for an HSA, and discuss strategies to maximize…
If you have a workplace benefits package, some of your perks may come with a “vesting schedule” or “vesting period.” It’s critical to understand how vesting works and consider it before deciding to leave your job. This post will explain different types of vesting and answer frequently asked questions, so you get the most from your benefits at work. What does it mean to be vested with a company? Vesting is a legal term that means you have the right to something, such as a payment or benefit. It’s typically used in retirement plan language to set a timeline for…
In a recent episode of my personal finance podcast, Money Girl I was joined by a special guest, Adam Levin. He’s a consumer affairs advocate and nationally recognized expert on cybersecurity, identity theft, fraud, and personal finance. He’s the author of Swiped, How to Protect Yourself in a World Full of Scammers, Fishers, and Identity Thieves. And he’s the host of the podcast, What the Hack with Adam Levin. Protecting your personal finance As you’ll hear in the interview, Adam’s mission is educating consumers, businesses, and government agencies about security issues. He graduated from Stanford and the University of Michigan…
Chris C. says, “I’ve used Mint to track my finances for years based on many recommendations you made on the podcast. With the announcement that Mint will be migrating to CreditKarma, I wonder if you have any recommendations for alternatives or think it will be a solid replacement. Thanks for all the knowledge and information you share weekly!” Thank you for your excellent question and for being a long-time listener to the Money Girl podcast, Chris! I know many people have been disappointed by the news that Mint will be discontinued in 2024. It was founded in 2006 as one…
What is a health savings account (HSA)? An HSA is a savings account for the sole purpose of paying allowable healthcare expenses. But to qualify, you must have a particular type of health insurance, which I’ll cover in a moment. An HSA is my favorite tax-advantaged account because you can use it to pay qualified healthcare expenses on a pre-tax basis. However, you can also spend it on non-qualified expenses, like everyday bills or a vacation, after your 65th birthday. It’s a clever, legal way to pay less tax, save more, and invest for the future. But HSAs have strict…
“Hi Laura, this is Amy from Alaska, and I’m considering an online bank to open a savings account with higher interest rates than I’m currently getting at my local bank. Can you provide some pros and cons and tips for choosing an online bank?” Thanks for your question, Amy! I love that you’re thinking about making your money work harder for you. In this article, I’ll review what you should know about using a high-yield savings account (HYSA), including tips for choosing the best one and how to get the most from an online bank. What is a high-yield savings…
Saving for retirement is the granddaddy of all financial goals because it requires a considerable nest egg. But knowing how much you really need to retire is more like an art than a science. It’s similar to planning a big party when you don’t know when or where it will be, how many people will show up, or how long it will last! In other words, retirement planning has many variables and no one-size-fits-all answer for how much you should save. But I’ll make it super simple in this article by explaining different sources of retirement income and how much…
An anonymous caller left me a message recently saying, “Hi Laura, I’m new to the podcast, have not started investing yet, and age 36. So, I know that I’m late to the investing party, but I want to start now by opening a brokerage account. I’ve been trying to figure out the best option and hope you can create an episode about that.” In this article, I’ll talk about the best time to start investing and help you know how you should invest by reviewing eight considerations for investing in a brokerage account. We’ll cover tips for choosing a firm,…