Money Girl

1064. What should you do with your retirement contributions when a layoff looms in your mid-50s? Host Laura Adams tackles a listener’s question about building a cash cushion without sacrificing growth for retirement. Whether you're navigating late-career volatility or job insecurity as a younger worker, these tips will help protect your financial future.
Key Takeaways
Even with a looming layoff, try to contribute at least enough to capture your full employer match to a retirement account, giving you a guaranteed 100% return.
For emergency funds you may need within the next year, prioritize savings in an FDIC-insured high-yield savings account.
Leaving your job in or after the calendar year you reach age 55 waives the 10% early withdrawal penalty on your current employer's retirement plan.
Distributions from traditional retirement accounts remain subject to ordinary income tax no matter your age.
While the rule of 55 eliminates the 10% penalty, you must have owned a Roth plan for at least five years for the pre-tax earnings to be tax-free.
Sole earners supporting family members should have at least six months of essential living expenses saved as a cash reserve.
Older job seekers should modernize resumes by trimming them to the last 10 to 15 years of experience, removing graduation dates, highlighting quantifiable business results, and showcasing proficiency in enterprise platforms, popular tools, and AI workflows.

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Transcripts available at QuickandDirtyTips.com.
Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.
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780. Did you know a solid credit score can save you tens of thousands of dollars on a mortgage, slash your auto insurance premiums, and even help you land an apartment or a job? Excellent credit isn't just for frequent borrowers—it’s an essential foundation for everyday wealth building.
In this episode, Laura breaks down nine actionable, savvy strategies to build, repair, and maintain top-tier credit scores. You’ll learn:
The hidden perks of high credit: How your score affects utilities, rentals, and insurance rates—even if you never borrow money.
The credit utilization trap: Why closing paid-off credit cards can unexpectedly hurt your score.
Common myths debunked: The truth about carrying a balance and why being completely debt-free might leave you with a "thin" credit profile.
Starting from square one: How to leverage secured credit cards and authorized user status to establish credit safely.
How your score stacks up: A look at average credit scores across the country and the factors scoring models weigh the most.
Whether you're building credit for the first time or looking to jump from good to excellent, these practical habits will set you up for long-term financial success.

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Transcripts available at QuickandDirtyTips.com.
Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.
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1063. Stepping away from the workforce to care for family is meaningful work. But relying on a single paycheck can leave parents vulnerable. Host Laura Adams answers a listener’s question about transitioning to a one-income household. Whether you’re married or are domestic partners, you’ll learn strategies to create a strong financial safety net.

Key Takeaways
Because a one-income family faces more financial risk, it’s important to build a liquid emergency cushion of at least six months of living expenses in an FDIC-insured high-yield savings account.
Life insurance shouldn't just replace the earner’s paycheck; having a term life policy on the stay-at-home parent protects against the annual expense of childcare.
Legally married couples filing taxes jointly can fund a spousal IRA up to annual limits for the non-working spouse.
A working partner can gift funds for a non-working partner using a brokerage account in their name.
A last will and testament (which names legal guardians for minor children), power of attorney, health care proxy, and living will ensure key decisions about your family’s future stay in your control.
Accounts with named beneficiaries, like 401(k)s, IRAs, and life insurance policies, bypass probate and transfer directly to the named individual, making regular beneficiary audits critical after marriage, divorce, or childbirth.

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Transcripts available at QuickandDirtyTips.com.
Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.
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1062. Are massive credit card sign-up bonuses (SUBs) really worth chasing? Or do they actually hurt your credit? Host Laura Adams explains the real impact of opening credit cards for sign-up bonuses, closing accounts shortly after, and managing multiple cards. You’ll learn six strategies to maximize card rewards, control your credit utilization, and protect your credit scores.

Key Takeaways
Only chase a high-value sign-up bonus if you can reach the spending threshold with routine, planned purchases. Buying unnecessary items or carrying a balance with high interest charges wipes out the rewards.
Applying for a card results in a temporary hard inquiry check, but adding a new credit line increases your total available credit, which lowers your overall credit utilization ratio and boosts your scores over time.
Canceling a card shortly after earning and spending a bonus can cause your credit utilization ratio to spike.
If you want to cancel a card with a high annual fee, consider downgrading to a less expensive one in the same card family to keep your credit limit intact.
Inactive cards can be closed by issuers, or they can cut your credit limit. You can keep cards active with a small recurring charge or an occasional charge to preserve your credit.
Episode 1040: Keep your cards active

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Transcripts available at QuickandDirtyTips.com.
Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.
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1061. Worried about locking your money away in a retirement account? Host Laura Adams answers a question about choosing investments without losing sleep over liquidity. You’ll learn the pros and cons of taxable brokerage accounts versus retirement accounts, the surprising Roth IRA "loophole" for penalty-free withdrawals, and a simple strategy for choosing diversified investments.
Key Takeaways
Taxable brokerage accounts offer complete liquidity with no withdrawal penalties or deposit caps, but require paying annual taxes on dividends and capital gains. Retirement accounts offer tax savings, but carry strict annual limits and early withdrawal restrictions.
Roth IRA contributions can be withdrawn at any time, for any reason, with no tax or penalty, giving you a built-in safety net.
Stick to broad-market index ETFs (like S&P 500 or Total Stock Market funds), which are diversified and rarely generate unexpected annual tax liabilities.
Build an emergency fund as a top financial priority, then maximize any free matching for a workplace retirement plan, and then fund a Roth IRA.
Consider using a taxable brokerage account for non-retirement or mid-term financial goals.
Investing consistently is key to building wealth with the least effort possible.

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Transcripts available at QuickandDirtyTips.com.
Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.
Hosted on Acast. See acast.com/privacy for more information.