In this episode, the focus is on women because they need to accumulate more wealth over their lifetimes than men. Why? Women live eight years longer on average, declare bankruptcy more often and don’t invest as much as men. You’ll meet Jill and Julie, two women who love to spend and get advice from financial expert Jennifer Openshaw on how to turn their financial lives around.
Do you know your net worth? Do you know why you should care? Investing 101 teaches us why we need to clean out our investment clutter and review what we already own so we don’t just keep buying funds that own the same stocks over and over. The overlap does not diversify our portfolios, and we‘re paying to own different funds that invest in the same securities. Don’t bite off more than you can chew: If you don’t have time to track 10 mutual funds, then own as many as you have time to review — and make sure you are diversified.
In Scam Alert, Martin Mathosian of Florida’s Fraud Investigation Department warns about three very common types of scams that the people of Florida have to watch out for.
