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| Stat Of The Day |
| $29,419 |
Call it the other Parent Trap. New data shows the annual cost to raise a child has jumped 35.7% since 2023 to an average of $29,419. The biggest budget buster? Childcare, which now costs the average family $17,836 per year. |
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| This Week In Your Wallet |
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If you’ve been looking at your 401(k) portfolio with one eye closed, glass of wine in hand…you aren’t alone. But should you let the market madness stop you from funding your retirement accounts? Experts say no. "If you keep saving and investing for retirement now, you'll give yourself more time to enjoy the benefits of an eventual market recovery," writes Maurie Backman for USA Today. If you’re closer to retirement, you’ll want to tweak your strategy to protect against near-term downturns. "That means having one year's worth of living expenses in cash. That way, if you need to ride out a longer wave of volatility, you'll be able to leave your portfolio untouched without locking in losses," adds Backman.
Yes, there’s a pause on some of President Trump’s tariffs, but those impacting vehicles are still happening. And, even if a new car isn’t in your future, they could still cost you, as The Wall Street Journal reports. According to analysts, tariffs on cars and auto parts will drive up the cost of insurance and repairs. "The prices of parts that are commonly damaged in collisions, such as hoods, fenders and lights, stand to rise further starting about three months from now," the WSJ notes. If your car is in need of repairs, experts say to get the work done ASAP before parts become more expensive and less available.
Preparing to tie the knot is an exciting – and stressful – time. But should you marry someone with no money (or who is struggling financially)? As Rachel Cautero writes for HerMoney, it shouldn’t hold you back, but there are steps you need to take before you make things official. Start by having a candid conversation about finances and putting it all on the table – that includes taking a look at each other’s credit reports. "Any joint account you open will [trigger] a credit report check for both you and your spouse," says Carla Dearing, a financial expert and CEO of Velo. "If your spouse’s credit is too poor to use for a home or car loan, you may be tempted to take on those financial responsibilities on your own." Note, if you use your own credit for a major expense during your marriage and then divorce down the road, your spouse would still likely be responsible for helping to repay the loan, as it would be considered "marital debt." Experts say a postnup, if drafted properly, can help guarantee that happens. |
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| Could Dividend Investing = Financial Peace Of Mind? |
If you’re feeling uneasy about where your money is sitting right now, you’re not alone. That’s why this week, we’re diving into a strategy that’s all about dependable income and peace of mind: dividend investing.
Jenny Harrington is an expert investor and author of Dividend Investing: Dependable Income to Navigate All Market Environments. She joined the HerMoney Podcast to explain how building a portfolio of dividend income stocks can offer dependable, consistent income and, most importantly, stability in an uncertain economy.
As Harrington explains, dividend investing falls into two categories. First, there’s dividend growth investing, which focuses on investing in companies that consistently increase their dividends. For example, you could invest in companies like Microsoft or Apple, which pay a very tiny dividend, around 0.01 or 0.02%.
On the other hand, there’s dividend income investing, which is Harrington’s specialty. "Dividend income investing is where you can create a portfolio, and the dividend income that the stocks pay out creates a substantial income stream," she explains. "So if you invest in a stock that has a price of $100 and it has a 5% dividend yield, then it's giving you $5 a year of income. And the dividend is consistent, so the share price can go up, down, and sideways, but the dividend is consistent, particularly in U.S. stocks."
For more on how to know if dividend investing is right for you and tips for using the strategy to build retirement income, head here. |
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| Ask Jean |
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| Q: |
Today’s question comes from Kristy. She writes: I have a financial planner who manages my Roth IRA and investment accounts. I have two other financial planners who are tied to my employer-sponsored retirement plans. They are all fiduciaries, but should I hire a financial planner who isn't tied to any of my accounts for an outside perspective? |
| A: |
Getting help with managing your money can be incredibly beneficial. That said, it’s important to get the right kind of expertise. To answer your question we tapped Kara Stevens, founder and CEO of The Frugal Feminista and author of Heal Your Relationship with Money for her perspective. Here’s what she had to say:
From what you’ve shared, it sounds like you already have several fiduciaries managing different parts of your financial life—which is a great start. But I also hear you’re wondering if bringing in someone outside of your current setup might offer more perspective.
While I can’t offer advice without knowing the full scope of your financial situation, I can share a few common scenarios that might help you think through your next step:
Scenario 1: Account-specific planning: If your current advisors are focused solely on your Roth IRA or employer-sponsored plans, they may not be seeing your full financial picture. Things like cash flow, debt management, insurance, estate planning, or values-aligned investing might be left off the table. An outside planner can often provide more holistic guidance.
Scenario 2: Conflicting or siloed advice: If your advisors aren’t communicating with each other, you may run into overlaps or conflicting strategies. A separate planner—untied to any one account—can help you coordinate across your entire financial life and clarify your overall direction.
Scenario 3: You’re looking for a second opinion: Sometimes, even when working with fiduciaries, clients want a second set of eyes. (It’s kind of like getting a second opinion from a doctor.) This can be especially helpful if your current advisors are limited by employer rules or investment platforms. A third-party perspective can help you explore alternative strategies or uncover areas that haven’t been addressed.
A gentle note: Are we conflating roles? It’s worth reflecting on whether "financial planner" and "financial advisor" are being used interchangeably here. Many professionals wear both titles—but their scope can vary. Some focus on investment management only, while others help you design a broader, values-aligned financial life.
So before hiring another fiduciary, you might consider whether what you really need is someone who approaches your wealth strategy from a different angle entirely. For example, getting the perspective of a tax-focused professional like a Certified Public Accountant or an Enrolled Agent could help as well. |
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| Things That Save You Money |
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| More For You To ♥ |
🎙 From caregiving duties to longevity, there are a number of factors that impact how women invest for the future. HerMoney CEO Jean Chatzky joined Morningstar’s The Long View podcast to break down what women need to do differently with their money. Take a listen.
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