🧐 Are You Feeling Risky?

Are You Feeling Risky?

When you think about taking risks with your money, how does it make you feel? In other words, what’s your appetite for risk in the market? It’s a topic we’ve discussed often in HerMoney’s InvestingFixx club, but a recent study has put the question into perspective in a new way. According to data from Vanguard, nearly 25% of investors in taxable brokerage accounts aged 75 to 84 and 20% of investors over the age of 85 have nearly all their money in stocks. Read that again. Nearly all their money in stocks. This flies in the face of the conventional advice that individuals in retirement should keep no more than 50% of their portfolio in stocks, sometimes even less, depending on their risk tolerance. (The logic here is that as we age and edge closer to retirement, we should start shifting our money into “safer” investments so there’s less risk of loss if the market takes a tumble right before we need it.) But what does this study really show about the risk we’re taking — and what happened to the classic formula? We break it all down this week and take a look at when you should be rebalancing your portfolio, and what the “perfect” balance for your age and risk tolerance really is. (Hint: you’ve got to look at the risk your entire household is taking, not just the risk in a single 401(k) or brokerage account.)

What have you done this week to relax, or to tune in with your higher purpose? Perhaps a yoga class or a meditation session — or maybe you tried both! The yoga industry is everywhere these days, with more than 41,000 yoga studios in the United States. And the largest studio brand is CorePower Yoga, which boasts more than 200 studios nationwide. (If you haven’t taken one of their sweaty, groovy classes yet, we highly recommend it!) Since January 2020, Niki Leondakis has served as CorePower’s CEO and has successfully led the yoga chain to new heights. (Eagle pose, anyone?)This week, she sits down with Karen Finerman for a new episode of the How She Does It podcast to discuss how she leads from the center and finds her zen, even during stressful times. Listen to hear more about how yoga transformed Niki’s life, the way she takes ownership of mistakes as a leader, and her vision for the future of CorePower. P.S. If you’re loving the show, let us know by subscribing and leaving a review!

Are Travel Rewards Credit Cards Really Worth Having?

What’s in your wallet these days? Whether you canceled your travel cards in 2020 or you’re new to rewards cards altogether, it’s a good time to figure out the right card for you. But before you sign up, you’ll want to consider whether any travel rewards being offered are actually worth it. Start by looking at your own calendar — how much are you planning to travel? Over the last few few years, so much about the way we travel has changed. Thankfully, many airlines have changed inflexible policies that were once written in stone. (For example, Delta Airlines and American Airlines have permanently eliminated many of their change and cancellation fees, which we love.) And we’re now traveling more than we did pre-covid. But before you commit to a shiny new piece of plastic in your wallet, you’ve gotta look at annual fees, specifics on the rewards offered, and whether or not you might be better off with a card that offers cash-back instead of travel rewards. Here’s a look at everything to consider, including implications for your credit score — happy travels!

Bulking Up Your Pantry… And Your Wallet

It seems counterintuitive to say that when we want to save money, we should buy more… but we usually spend more per serving (or, technically, per ounce) when we buy smaller portions — and in moments when we realize we’ve run out of something, we’re rarely able to take advantage of sales. This week, HerMoney’s Aly Walansky breaks down why you should buy foods in bulk, and how to save on groceries right now. Specifically, we look at the top 10 best foods to buy in bulk, and some of them may surprise you. For example, bread can be stored in the freezer. And don’t be intimidated by those enormous packages of chicken breasts at Costco — portion them out individually into packs of two, then pop them into zip lock bags and label, date and freeze. They’ll keep for a year. Also on the list for the freezer: cheese (hard cheese, like parmesan) butter and nuts. Here’s the complete list of everything that’s worth snagging a deal on and saving for later.

The Budget Kitchen Renovations Of Your Dreams

What do you like to do after a long and stressful day? Relax with a glass of wine? Enjoy a nice dinner? Sounds amazing. And where do we usually embrace all this must-deserved chill out time? It all starts in the kitchen. And because we want our homes to be our sanctuary, we want to do it in the most beautiful kitchen possible…But there’s a catch: renovating a kitchen is an incredibly stressful — and expensive! — decision. Do you want quartz countertops? Painted cabinets or bare wood? Induction cooktop or gas burners? The list of questions goes on and on, and perhaps at the top of it is the biggest one: How do I do kitchen renovations on a budget? Thankfully, we have a bit of welcome news…Sophie Donelson says you don’t have to do everything in order to create the perfect kitchen for you. In her book, “Uncommon Kitchens,” she dives into the little changes that stand to make the biggest difference in our homes — and this week she shares them all with HerMoney CEO Jean Chatzky on the HerMoney Podcast*. (Hint: Expensive new countertops might not be the answer!)

Finding Your Bliss: Retirement Edition

What does it mean to live a happy life? For the past 85 years, there’s been an ongoing scientific study dedicated to giving us data on what works, what doesn’t, and what we can all do to make our lives a little brighter on a daily basis. Robert Waldinger, the director of this very study at Harvard, talked us through the things that can help build happiness toward the second half of life — and the ones that can’t — on this Your Money Map with Alliance for Lifetime Income. Things like meaningful relationships, your health, money, age and warm puppies all play important roles in the formula for happiness. Here’s what we learned.**

More For You To ❤️

“What do you mean my dog isn’t a person?!” 🐶💕 Our four-legged children are family to us, that’s why we asked veterinarians to share their best tips on how to help our pets stay healthier for longer—in partnership with Healthy Paws Pet Insurance.**

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Share The Love With Your BFF! August 6th Is National Friendship Day. So, in honor of you and your BFFs, meet The Friendletter -- a newsletter from our pals over at Frugal Friends that's helping savvy women just like you save more money and feel better about your spending...Think of it like a text from your bestie in your inbox three times a week. Get the Friendletter now for saving + budgeting tips, practical strategies to control your spending, and so much more.

Have a great week,

The HerMoney Team

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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. AM3020937.

**This is a sponsored post.

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.

BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates (together “BlackRock”). The information provided in this communication is solely for educational purposes and should not be construed as advice or an investment recommendation. Any opinions expressed do not necessarily represent the views of BlackRock. BlackRock is not affiliated with HerMoney.