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| Stat Of The Day |
| $18.6 Billion |
That’s how much Americans planning to watch Super Bowl LIX are expected to spend on everything from snacks to game-day gear, according to the National Retail Federation. It breaks down to about $91 per person. Don’t fumble your budget (ha!) and scroll on for tips on how to save. |
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| The True Cost Of Menopause |
Menopause isn’t just a life stage — it’s a financial issue. Research from SimplyHealth found nearly a quarter of women have considered quitting their jobs due to the impact of menopause or menstrual symptoms at work.
It’s also a financial issue in the sense that everywhere you look, companies are pushing beauty products, supplements and viral concoctions that are supposed to minimize menopause symptoms. It’s what The New York Times called the "menopause gold rush."
Jill Herzig, Chief Brand Officer and co-founder of Midi Health, recently joined the HerMoney podcast to discuss how menopause impacts women’s careers, finances, and overall well-being. She says these quick fixes, for the most part, are a waste of money.
"If you’re trying to evaluate [a product], you want to make sure that you’re not looking at what is essentially a beauty company," suggests Herzig. "Applying beauty products will not help you with menopause symptoms. Moisturizer is not going to change hot flashes or insomnia or any of the 50-plus symptoms."
What is worth spending money on? Healthcare, says Herzig who dove deep into the topic of hormone replacement therapy. "That is what you need to get through perimenopause and menopause in a truly supported way." |
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| This Week In Your Wallet |
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President Trump’s tariffs on Chinese goods have officially gone into effect – and the country is firing back with tariffs of its own. What does it mean for you? Higher prices on things like computers, cell phones and other consumer electronics, as well as footwear, as CNN reports. "Prices probably won’t rise immediately on stuff coming into the United States from China — goods have been warehoused without the additional 10% tariff for quite some time," reports CNN. "But as inventories clear out and new Chinese items come ashore, American consumers will start to bear the burden."
Facing a ‘failure to launch’ scenario? Listen up. A recent report shows just 45% of young adults are completely financially independent from their parents. If you need advice on nudging your children in that direction, we’ve got you. According to experts, it’s best to do so gradually. For example, if your child still lives with you, review the household budget with them to see how they can contribute (for example, buying groceries, or helping out with utility bills). "Identify ways that are realistic for them to contribute — not just to reduce your own expenses, but most importantly, to get them used to being responsible for a monthly household expense," writes Sarah Pierce for HerMoney. PS, want to take it to the next level? We have a special session of FinanceFixx, HerMoney’s financial coaching program, coming up on March 11 that’s JUST for young adults.
The IRS estimates that 1 in 5 eligible taxpayers don’t take advantage of *this* tax credit worth thousands. "The earned income tax credit, or EITC, is a tax break for low- to moderate-income workers," reports CNBC. "In 2023, eligible taxpayers received an average credit of $2,743, according to the IRS." IRS officials say many eligible taxpayers don’t claim the credit because they "don’t know about it, or don’t realize they qualify." Find out if you do, here. |
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| Things That Save You Money |
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| How To Listen To An Investor Conference Call |
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If you’re new to the markets, listening in on an investor conference call for a company you hold stock in might feel like eavesdropping. But, it’s not – instead, it’s an important part of staying in the know about how the company is doing, and what they have planned for the future.
In this week’s session of InvestingFixx, HerMoney’s investing club for women, Karen Finerman shared her advice for getting the most out of any investor conference call you listen in on.
One of her tips? Pay close attention to the Q&A at the end of the call. "This is just as, or sometimes more important, than the CEO comments," says Karen. "This is when analysts from Wall Street firms who cover the stock get to ask the questions they most care about. The answers help them form their recommendations. It takes some practice, but it is very important to get a feel for how the company interacts with Wall Street." |
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| Ask Jean |
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| Q: |
Today’s question comes from Poonam. She writes: My 2024 1099R shows I contributed $6,500 towards my Roth IRA. I am confused…can I contribute another $6,500 now before we file taxes, assuming that will be for 2025? |
| A: |
Thanks for your question. The Roth IRA is one of the best vehicles for saving for your future. That’s because the Roth is funded with after-tax dollars, making withdrawals in retirement completely tax-free.
Now, on to your question. It sounds as though you’re a bit confused about the timing of when you can make contributions. For 2024, the annual contribution limit for Roth IRAs is $7,000 or $8,000 if you’re above the age of 50. What you’re seeing on your 1099R is your contribution for 2024.
You can, however, go ahead and fund your Roth IRA for 2025. This can be done at any point during the year, up until the tax filing deadline. So, for 2025, you’d be able to make contributions until April 15, 2026 (unless something were to change that deadline). |
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Submit your questions to Jean here.
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