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Breaking The Silence Around ‘The M Factor’
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Emmy award-winning TV journalist, Tamsen Fadal, remembers having her first hot flash on air while anchoring the evening news in New York City. "I just felt this inferno inside," Fadal says. "One of my coworkers was aware enough at the time to get me off the set and when I was in the bathroom, I just dropped down to the floor. It was the first time I'd never finished a newscast."
The experience led her to start sharing the realities of aging in the workplace, including the details of her menopause journey on Instagram. Fadal quickly racked up over a million followers who could relate, and, eventually, stepped away from the anchor desk and into a full-time career talking all things midlife and menopause.
"When I [first] started talking about it, I didn't know what was going to resonate quite so strongly. It was that important to me to do this and take that chance," Fadal says. "Was it scary? A hundred percent. But it's been almost a year now to the day that I left and I'm so happy with the decision I made."
Before the launch of her PBS documentary The M Factor: Shredding the Silence on Menopause, (out tomorrow!) Fadal joined the HerMoney Podcast* to talk about menopause, midlife and thriving in the workplace as we age. Hear about what she’s letting go of now that she’s in her 50s and the misconceptions we need to push back on about midlife.
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| The HerMoney Podcast is made possible by Edelman Financial Engines.
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This Week In Your Wallet
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Jury duty, the DMV and return shipping. Just a few of life’s little annoyances, but people say one of them is the worst. "These days, 77% of shoppers check the return policy before making a purchase, according to a September survey of 1,500 adults by GoDaddy," reports CNBC. "Nearly a third, 30%, of consumers said paying for return shipping was more annoying than jury duty and going to the Department of Motor Vehicles." According to the return solutions company Optoro, the average return costs an online shopper around $7.
Switching jobs? It could cost you when it comes to your 401(k). "The majority of people who change jobs wind up putting less of their pay into their 401(k)s, often without realizing it, according to new research from Vanguard Group," as The Wall Street Journal reports. "That is because many job switchers either forget to sign up for the 401(k) plan, or get auto-enrolled at a lower savings rate." Ouch. According to Vanguard, over a four-decade career, those who job hop could miss out on $300,000 in retirement wealth, compared to those who stay put.
We’re less than three weeks away from the presidential election. As we get closer to November 5, child care costs have emerged as the "kitchen table issue" for parents. "Driven by a national shortage of workers and facilities, the costs of day care and preschool are rising at nearly twice the pace of inflation, devastating household finances for low- and middle-income families," as USA Today reports. A different report shows the cost for two children is pricier than the average rent in all 50 states—and the average mortgage payments in 45 states. "Nearly 9 in 10 parents surveyed by Care.com said a political candidate’s position on child care access and affordability would help determine their vote," notes USA Today.
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Things That Save You Money
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We don’t know Jack-o-lantern about making your carved pumpkin last, but there are experts who do, and they’re dishing all the ghouly details to The New York Times. One tip? Cut a hole in the bottom of your pumpkin, not the top. "If you cut through the top, after a day or two, that lid tends to fall right through the hole you’ve made. Then it’s only a matter of time before the pumpkin is completely gone," explains Chris Soria, a pro pumpkin carver.
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Cooler weather is here. Higher home heating bills aren’t far behind. Save money on yours by changing the direction of your ceiling fans. Experts say in winter, it should be moving counterclockwise to pull cold air up and push hot air down.
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There’s nothing better than a good book. Correction, there’s nothing better than a free good book. Use the Libby app to access free ebooks, audiobooks and magazines from your library.
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Ask Jean
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Today’s question comes from Annie. She writes: What's the difference between a home equity loan and a home equity line of credit?
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Thanks for your question, Annie! A home equity loan and a home equity line of credit (HELOC) are similar in that they allow you to borrow against the equity of your home. They are different in a number of key ways. Let’s break it down.
A home equity loan is a one-time, lump sum that you borrow based on your home’s equity — or, in other words, the difference between what your home is worth and what you owe on your mortgage. You pay the loan back over a set time period (typically 5 to 30 years), with a fixed rate and fixed monthly payments. Home equity loans are commonly used by people who need cash for a large, one-time payment (for example, a home renovation), or to consolidate their debt.
On the other hand, a HELOC works more like a credit card. A financial institution will approve you for a certain amount of credit, based on your home’s equity. You can utilize the funds, as needed, during what’s referred to as the "draw period." The draw period typically lasts 5-10 years. During this time, you’re usually only obligated to pay the interest on what you borrow. When the draw period comes to an end, you’ll start repaying what you borrowed, plus any outstanding interest. A note about interest, too — interest rates with HELOCs are typically variable, not fixed. HELOCs are best for those who need ongoing access to funds, money to pay for recurring expenses, or to cover a project that is spread out over time.
A word of warning to those looking to tap into a HELOC or home equity loan. Both options use your home as collateral. If you don’t repay the loan, your lender could foreclose on your property.
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Submit your questions to Jean here.
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More For You To ♥
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💸 Know where every dollar is going in four weeks. Jean Chatzky’s proven methodology for spending less, saving more and gaining more control over your money is now available in a new 4-week program. Work 1:1 with a financial coach and a group of like-minded women here.
📅 Studies show it can take anywhere from 18 to 254 days to make a habit stick. Whether your long-term goal is to save more money or to participate in a marathon, forming lasting habits that take us closer to the finish line is challenging but not impossible. Here’s how.
🍂 Style that adapts to every stage of life. Embrace your evolving style needs with Armoire’s flexible clothing options. From maternity to menopause, find pieces that fit your journey. Get up to 50% off your first month plus two free bonus items here.**
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We maintain a strict editorial policy and a judgment-free zone for our community. We strive to remain transparent in everything we do. Website posts and newsletters may contain advertisements, links and mentions of products from our partners. Learn more about how we make money.
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*The HerMoney podcast is proudly sponsored by Edelman Financial Engines. Unlock your wealth potential with our sophisticated wealth planning. Continue your journey at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines – Modern wealth planning. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM3807168.
HerMoney is not a client, agent, representative or affiliate of EFE.Edelman Financial Engines ("EFE") is a sponsor of the "HerMoney with Jean Chatzky Podcast," created by HerMoney Media. Inc. ("HerMoney") and provides cash compensation to HerMoney Media. HerMoney receives a sponsorship fee from Edelman Financial Engines depending on the number of podcast downloads, as measured by the end of the calendar year. The sponsorship fee is paid on a quarterly basis each year. In turn, HerMoney also provides promotional deliverables regarding EFE on the HerMoney podcast, newsletter, and social media channels. Due to this sponsorship arrangement, HerMoney has an incentive to endorse EFE and its services.
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**This is a sponsored post
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