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This Week In Your Wallet
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Could channeling Ted Lasso boost your retirement plan? Experts say yes. While most advice focuses on numbers, research shows a dose of Lasso-like optimism may put you on a better financial footing for the years ahead. "Optimists are 118% more likely to feel ready to live to age 100 and 53% more likely to convert retirement savings into at least $1,000 in monthly income through products such as annuities," reports Kiplinger.
Attention, families. FAFSA season is officially here. The 2026-27 Free Application for Federal Student Aid just dropped and the sooner you file, the better your odds are at receiving more aid, CNBC reports. "Filing early also means students and families may receive financial aid offers from schools earlier, which can help them make more informed decisions about planning and paying for college," says Rick Castellano, a spokesperson for Sallie Mae.
44% of women say they need life insurance, or if they already have coverage, admit they should have more. Are you one of them? We’re breaking down everything you need to know – from how much coverage to get to when to buy it. "Everyone’s situation is different — and your insurance needs are likely to change over time," writes Howard Gensler for HerMoney. "Before you have others depending on your income, you don’t need it at all. Once you have dependents — for example, if you have a young family and budget constraints — a term policy may be the best option for you, because it’s the most affordable."
🛟 If life throws you a curveball, you’ll want your loved ones protected with a solid financial cushion. That’s where life insurance comes in. It’s one of the smartest ways to take care of your family’s future. And the good news? Policies can start at just $7 a month.
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Ask Jean
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| Q: |
I’m trying to purge, and wondered if it’s okay to discard my original home purchase closing documents if I’ve refinanced.
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| A: |
We get the urge to purge this time of year, too. But before you get too shred-happy, take a beat. You’ll want to hold onto that closing document. Desiree Kaul, CFP and owner of Kaul Financial Solutions, explains why. She says:
I would recommend keeping any home purchase closing documents for at least 7 years, especially if the person itemizes on their taxes.
Any points paid at closing and other acquisition costs may have reduced their overall tax bill for the year they first purchased the home. Keeping the documents for at least 7 years could be helpful if the client were to have an audit from the IRS.
I would also recommend keeping a record of the original home purchase costs [as well as records of any money spent on improvements] in the eventuality that the client may sell the home someday. This record will help [support] the client's cost basis in the home and reduce potential capital gains if the home is ever sold.
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Submit your questions to Jean here.
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A Lesson In Values-Aligned Investing
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Investing grows your money – but what if it could also support causes you care about?
That’s the idea behind what’s known as "values-aligned investing." At our latest InvestingFixx meetup, we welcomed Janine Firpo, co-founder of Invest For Better, who’s helping women use their investments to drive social good.
Firpo explains that every investment – even where you park your cash – has an impact.
"If you’re not paying attention, then chances are you're supporting things that you don't really care about, or things that you might be even marching in the streets, to oppose," she shares. "It's really important to know what your money is doing and the kind of impact it's having."
Ready to take a deeper dive? Join InvestingFixx and catch the replay here.
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Things That Make You Money
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Chelsea Sodaro’s Historic Win – And The Story You Didn’t See
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"I honestly believe that if I had had access to better support right after my daughter was born…maybe it wouldn’t have gone on for two years until I found myself in a very serious crisis," Chelsea Sodaro, American triathlete
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Chelsea Sodaro made history at the 2022 Ironman World Championship in Kona, Hawaii, finishing in just under 8:34 – only 18 months after giving birth to her daughter. She became just the second mother ever to win at Kona.
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But behind the triumph, Sodaro was battling postpartum anxiety and depression. "I honestly believe that if I had had access to better support right after my daughter was born, to help me navigate all of our breastfeeding struggles, to help me navigate these early signs of postpartum anxiety or easier access to mental health resources, maybe it wouldn’t have gone on for two years until I found myself in a very serious crisis," Sodaro shares on the latest episode of How She Does It.
Now, as she prepares for the 2025 championship, Sodaro is using her platform to make her sport – and the world – more welcoming for mothers. This year, she’s launching her inaugural "Unlocking Yes" event, benefiting For All Mothers+, a nonprofit working to support women athletes in motherhood through grants, advocating for policy changes, and more.
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