DeepSummary
In this episode, Tori answers listener-submitted questions about various financial topics. One caller asks about what to do with a large amount of cash after selling a property they had invested in during 2020. Tori advises following a financial gameplan - building up an emergency fund, paying off credit card debt if any, then investing the rest for retirement or paying down lower-cost debt like a mortgage. However, she cautions the caller to ensure paying down the mortgage actually reduces monthly expenses rather than just shortening the loan term.
Another caller is moving to Australia for 2-4 years and has sold their house, leaving them with a couple hundred thousand dollars they plan to use for a future home purchase upon return. Tori recommends putting the money in a high-yield savings account or CD since the time horizon is less than 7-10 years, where stocks would be too risky.
The episode includes a call from a listener whose partner is upset that she signed up for Tori's investing course for women rather than learning from him. Tori provides advice on having an open conversation to understand his feelings while reinforcing the importance of women learning investing from other women.
Key Episodes Takeaways
- Follow a financial gameplan when receiving a windfall: build emergency fund, pay off debts, invest for long-term.
- For short-term (<7-10 year) goals, use high-yield savings or CDs rather than riskier investments.
- Have open conversations with partners to understand feelings when pursuing independent financial education.
- Inherited IRAs require specialized guidance to avoid excessive taxes.
- Learning about investing from women-only spaces can be empowering for women.
- Gender roles negatively impact both women and men in different ways.
- A fee-only financial advisor can provide tailored guidance for complex situations.
- Asset sales and inheritances require proactive tax planning.
Top Episodes Quotes
- “It is so incredibly powerful and important to learn about something that has been forever gatekeeped, forever masculine.“ by Tori Dunlap
- “Gender roles fuck men up just as much as they fuck us up as women.“ by Tori Dunlap
- “I don't know how to go about taking out the money or moving the money to a different account without triggering high tax events.“ by Caller
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Episode Information
Financial Feminist
Her First $100K
6/20/24