NerdWallet's Smart Money Podcast

• Can AI Really Manage Your Money? Plus: The Truth About Roth Conversions

  Learn how AI can help you budget, invest, and build financial knowledge. Then, get expert insights on Roth conversions. How can AI help you manage your money? What do you need to know about Roth conversions? Hosts Sean Pyles and Elizabeth Ayoola discuss the rise of AI-powered financial tools and break down the pros and cons of using AI for budgeting, financial education, and investing research. They explore how generative AI, budgeting apps, and robo-advisors can assist with personal finance tasks but also highlight potential risks that come with using the technology, like misinformation and algorithmic bias. Then, investing Nerd Sam Taube joins Sean and Elizabeth to discuss Roth conversions, including how they work, when they make sense, and what tax implications to consider. They cover how to estimate taxes on a conversion, the impact of the pro-rata rule on backdoor Roth IRAs, and strategies to avoid tax complications. Whether you’re curious about AI-driven financial tools or weighing a Roth conversion, this episode provides the insights you need to make smarter money decisions. What Is a Robo-Advisor and Is One Right for You? https://www.nerdwallet.com/article/investing/what-is-a-robo-advisor  Federal Income Tax Calculator and Refund Estimator 2024-2025 https://www.nerdwallet.com/calculator/tax-calculator  NerdWallet’s roundup of the best financial advisors: https://www.nerdwallet.com/best/investing/financial-advisors  In their conversation, the Nerds discuss: how to use AI for budgeting, AI investing tools, robo-advisors, AI for financial planning, AI stock research, how to use ChatGPT for money management, generative AI and finance, Roth conversion taxes, Roth IRA conversion rules, Roth IRA tax implications, backdoor Roth IRA, pro rata rule Roth conversion, traditional IRA vs Roth IRA, Roth conversion strategy, Roth conversion tax brackets, when to do a Roth conversion, backdoor Roth IRA step by step, Roth IRA withdrawal rules, best robo-advisors, AI stock picking, AI for retirement planning, how to avoid taxes on Roth conversion, investing with AI, and AI vs human financial advisors. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend.

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• How Tariffs Could Impact Your Retirement and What to Know for 2025 Taxes

  Learn how to respond to market volatility, the risks of private credit investing, and key tax updates for 2025. Should you adjust your 401(k) amid uncertain market conditions? How do you decide between the standard deduction and itemizing on your taxes? Hosts Sean Pyles and Elizabeth Ayoola discuss stock market volatility and tax season essentials to help you make smarter financial choices. NerdWallet senior news writer Anna Helhoski and investing writer Sam Taube, join Sean and Elizabeth to discuss recent stock market swings, covering how new tariffs on major trade partners are affecting the economy. They provide insights into why markets react to policy changes, the risks of panic-selling investments, and strategies for how you can maintain a steady financial course through uncertain or turbulent times.  Then, NerdWallet tax writer Bella Avila joins Sean and Elizabeth to answer listeners’ burning tax questions, including explaining key filing deadlines, recent tax bracket changes, and when it makes sense to itemize deductions instead of taking the standard deduction. NerdWallet’s federal income tax calculator: https://www.nerdwallet.com/calculator/tax-calculator  Use NerdWallet’s dividend calculator to estimate your long-term returns and tax liability on a dividend stock, assuming dividends are reinvested: https://www.nerdwallet.com/calculator/dividend-calculator  Learn about qualified and nonqualified dividend tax rates: https://www.nerdwallet.com/article/taxes/dividend-tax-rate  In their conversation, the Nerds discuss: stock market volatility, private credit investing, how to invest in private credit, retirement account changes, investing during a downturn, tax season 2025, tax deadline 2025, tax filing tips, tax brackets 2025, standard deduction vs itemized deduction, IRS Free File, Direct File IRS, how to file taxes for free, Roth IRA contribution limits, how dividends affect Roth IRA, reinvested dividends and taxes, backdoor Roth IRA, qualified vs ordinary dividends, investment risk tolerance, impact of tariffs on stock market, shadow banking, alternative investments, investing in private credit, tax changes for 2025, how to estimate tax payments, how to avoid tax penalties, and e-filing vs paper filing. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend.

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• How to Get Your Finances Ready for a Crisis and Tackle Debt Smarter

  Learn how to prepare financially for uncertain times and balance debt payoff with saving for emergencies and retirement. How much emergency cash should you keep on hand? Should you focus on paying off debt or saving for retirement first? Hosts Sean Pyles and Elizabeth Ayoola discuss financial preparedness and debt payoff strategies to help you feel more financially secure. They begin with a discussion on personal and financial resilience, covering tips on keeping emergency cash, building a support network, and taking proactive financial actions. Then, Sean and Elizabeth talk with listener Michaela, a 24-year-old paralegal, about balancing debt repayment with savings and investing. They explore the debt snowball vs. debt avalanche methods, how much to save for emergencies, and why starting retirement savings early — even while in debt — can pay off in the long run. NerdWallet’s guide to how to prepare for your next emergency: https://www.nerdwallet.com/article/finance/how-to-prepare-for-your-next-emergency  How to open a Roth IRA: https://www.nerdwallet.com/article/investing/how-and-where-to-open-a-roth-ira  In their conversation, the Nerds discuss: emergency cash savings, how much cash to keep at home, personal finance preparedness, financial resilience, budgeting for emergencies, how to build an emergency fund, debt snowball vs. debt avalanche, should I pay off debt or save, how to start investing in your 20s, best budgeting methods, 50/30/20 budget, zero-based budgeting, how to save for retirement early, Roth IRA vs. 401(k), why you need an emergency fund, financial security tips, community and financial support, mutual aid groups, debt repayment strategies, credit card debt payoff, investing while in debt, how to budget better, personal loan repayment, car loan interest rates, financial planning for young professionals, cash vs. credit in an emergency, preparing for a crisis financially, high-interest debt payoff, how to avoid debt traps, savings vs. debt payoff balance, and financial habits to build in your 20s. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend.

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• Egg Prices, Greenwashing, and Smarter Ways to Invest

  Learn what’s causing egg prices to rise so dramatically, then explore ethical investing and how to manage savings wisely. Are ESG investments really as ethical as they claim to be? What’s the smartest way to put extra savings to work? Hosts Sean Pyles and Elizabeth Ayoola discuss ethical investing and savings strategies to help you make informed financial decisions. They begin with a discussion of the rising cost of eggs with NerdWallet senior news writer Anna Helhoski, who explores the surprising reasons behind skyrocketing prices. They break down how the ongoing avian flu crisis, supply chain disruptions, and shifting farming regulations are affecting egg availability and pricing, as well as why some cage-free eggs are now cheaper than conventional ones and what consumers can do to save on groceries. Then, Smart Money listener Maddie joins Sean and Elizabeth to discuss how to balance savings and investments. They cover how much to keep in a high-yield savings account, whether investing is a good alternative to paying off student loans, and how to plan for future financial goals like college savings. User NerdWallet’s free calculator to understand how much life insurance you need: https://www.nerdwallet.com/article/insurance/how-much-life-insurance-do-i-need  In their conversation, the Nerds discuss: ethical investing, ESG investing, socially responsible investing, greenwashing in investing, best ESG funds, how to invest ethically, socially conscious investing, investment funds for social good, sustainable investing, high-yield savings, savings vs investing, financial security, best high-yield savings accounts, student loans vs investing, public service loan forgiveness, financial literacy, emergency fund, how much to keep in savings, Roth IRA vs 529, college savings plans, best 529 accounts, investing for the future, financial independence, socially responsible funds, investment strategies, passive investing, long-term investing, financial planning, personal finance tips, how to manage savings, how to start investing. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend.

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• Behavioral Finance Mistakes That Hurt Your Portfolio and What “Good” Returns Look Like

  Learn how behavioral biases impact your investments and what a “good” return from your portfolio looks like. How do behavioral biases affect your investing decisions? What kind of returns should you expect from your investments? Hosts Sean Pyles and Elizabeth Ayoola discuss common psychological traps investors fall into and how to set realistic expectations for long-term portfolio growth. They begin by speaking with Behavioral Financial Advisor Yohance Harrison, founder of Money Script Wealth Management, about behavioral finance, with insights on anchoring bias, recency bias, and how emotional decision-making can hurt your investments. They also discuss strategies to counteract these biases, how long-term planning can override emotional investing, why patience is key to market success, and how robo-advisors can help you stick to your plan. Then, investing Nerd Sam Taube joins Sean and Elizabeth to answer a listener’s question about whether their investment returns are on track. They discuss what a "good" return looks like, how different types of mutual funds impact performance, and when to consider adjusting your investment strategy.  7 Best Mutual Funds for February 2025 and How to Invest: https://www.nerdwallet.com/article/investing/how-to-invest-in-mutual-funds  In their conversation, the Nerds discuss: behavioral finance, investment biases, anchoring bias, recency bias, emotional investing, stock market psychology, long-term investing, short-term investing, market volatility, mutual fund returns, index fund returns, S&P 500 average return, risk tolerance, investment performance, robo-advisors, automated investing, when to sell stocks, how to manage investments, financial anxiety and investing, how to pick mutual funds, investment education, investment portfolio strategy, when to rebalance your portfolio, how to diversify investments, investment growth expectations, financial planning, how to avoid bad investments, investment risk management, and active vs passive investing. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend.

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