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| Are We Due For Another Dot-Com Crash? |
The S&P 500 is on pace for a fourth straight year of double-digit gains, something that’s happened only once before since 1928. That last time was the late ‘90s…then came the dot-com crash.
So, are we due for a repeat? On the HerMoney Podcast, Jean sat down with Karen Finerman, co-founder and CEO of Metropolitan Capital Advisors and a longtime Fast Money panelist, to find out. Finerman has managed money through booms and busts – the dot-com crash, 2008, all of it – so when she talks about this moment, she’s not speaking theoretically.
Her take? It isn’t just a blip. Companies are growing without hiring, pouring billions into AI, and funneling gains to shareholders instead of workers. Looking ahead, Finerman’s message to women is to stay invested, diversify beyond the AI trade, and, whatever you do, don’t borrow money to chase the rally.
Her approach is always that slow and steady wins the race: Keep your money in the market, in good times and bad. "I’m going to be long when it’s great. I promise you I will still be long when it’s terrible," she said. "Doesn’t feel good, but I just try not to focus on that kind of thing." |
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| This Week In Your Wallet |
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Should the government pay you to parent? The Trump administration is reportedly drafting a proposal that would give married couples with a stay-at-home spouse up to $9,000 annually in childcare assistance – for caring for their own kids at home. As The New York Times reports, it’s aimed at easing costs for families, but critics warn it could backfire. "The move could end up redirecting money away from working parents and their child care providers, causing some to raise their rates or even close, critics said, potentially worsening what many experts say is a child care crisis in the country," the NYT notes.
For the first time in over three years, the Federal Reserve is hiking interest rates. On Wednesday, officials announced they would raise the benchmark rate by a quarter percentage point, lifting the federal funds rate to a target range of 3.75%-4% in a unanimous vote. The move comes as policymakers seek to bring down inflation, which has been stuck well above the Fed's 2% target that now isn't expected to be met until 2029. As for what’s to come next, a majority of Fed officials believe there will be one more hike before 2026 wraps up.
Pensions are making a comeback. Once considered a "workplace relic," they’re being revived by a growing number of companies – including IBM, JBS Foods and Northwell Health, among others – to win contract negotiations with labor unions or attract talent in competitive fields, The Wall Street Journal reports. Many employers offering the benefit are using cash balance pensions. "With this version of pensions, employers credit employee accounts with a preset percentage of pay annually and promise a return that’s often tied to Treasury yields," reports the WSJ. "Many newer plans instead give workers market-linked returns, similar to a 401(k). That shifts most of the investment risk to employees." |
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| Things That Make You Money |
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Found some extra cash? Before it disappears back into your checking account, it might be worth a conversation about where it should actually go.
Willow matches women with vetted fiduciary advisors for wealth-building, financial planning, and everything in between – built for an industry that's historically overlooked you.
Join Willow on September 29 at 12 PM ET for an Empowering HER Finances webinar to check in on your finances, revisit your priorities, and take practical steps toward the financial future you want. Plus, you’ll get access to Willow’s September Money Reset Checklist to help put what you learn into action.
RSVP for Empowering HER Finances → |
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| Ask Jean |
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| Q: |
"I’m a single woman, age 58, with no spouse and no children. Currently, my mom, who is in her 80s, is my trusted contact, durable power of attorney, etc., which is not sustainable. I need to identify someone else to take that role, but I don't have family or friends I feel comfortable asking. What advice do you have for someone like me?" |
| A: |
For many people, a friend or family member is in the best position to serve as a trusted contact and fiduciary – but if you don't have children, or don't feel comfortable asking those closest to you, you're not alone. Don't let the awkwardness stop you, though. "My experience (both personal and professional) is that many people want to be helpful. It is only a 'burden' if the documents are poorly drafted," says Erin Gilmore Smith, Head of Estate Planning at Edelman Financial Engines.
If you truly don't have anyone in your life who fits the bill, professional fiduciaries – such as trust companies – can serve as your power of attorney, and some will even act as a healthcare agent. If the fiduciary you choose is an individual, such as an attorney or licensed professional, Gilmore Smith suggests asking about their succession plan – for example, is there someone who would take over the practice if the professional retires? And of course, always ask about rates.
A professional fiduciary may end up just being a Band-Aid solution, though. "Being only 58 years old, the odds are that a fiduciary wouldn't be necessary for many years, absent a terrible situation," Gilmore Smith says. "The reader might consider naming a professional fiduciary now, while she spends time building a circle of trusted friends."
If you do find someone in your circle (Gilmore Smith suggests houses of worship as a good place to start looking), make sure they have the capacity and skills to manage your finances if you're unable to. Gilmore Smith suggests asking yourself: "Is this person fiscally responsible and organized? Do they have the bandwidth to take over your finances in the event that something were to happen to you?"
On the healthcare side, availability matters just as much as willingness. Could this person take a call from the ER at 2 AM? Are they comfortable carrying out your end-of-life wishes if it comes to that? These are worth thinking through before you ask. And if you do go the professional route for healthcare decisions, ask about cost and succession plan here too – plus whether the professional will consult with family members, if you'd want them to. |
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