Dollars & Sense with Michelle Singletary

Marian is retired and enjoying the life she worked so hard to build. But as she watches her friends age and lose their independence, she can't stop wondering what her own version of that might look like — or how to pay for it. Michelle and Marian talk through her retirement "buckets," explore the possibilities of long term care, and whether she’s really prepared for what lies ahead. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. 00:00 Welcome to Dollars & Sense with Michelle Singletary 02:08 Meet Marian 03:31 Losing Her Husband and Estate Planning 04:56 Selling the Business During the Pandemic 06:20 Inheriting an IRA and Explaining RMDs 07:52 Social Security and Consolidating Investments 12:25 Breaking Down Marian's Current Financial Plan 15:35 The Bucket Approach 17:48 Long-Term Growth and Coverage 19:09 Grieving the Business You Built 21:13 Aging Without Kids: Who Will Look After You? 27:08 The Chapter In Between 28:12 Staying Put vs. Pivoting: Six Steps to Smart Decisions 35:15 Giving Yourself Permission to Spend 38:28 Final Thoughts: Why an Objective Third Party Matters Hosted on Acast. See acast.com/privacy for more information.

When Lauren’s daughter wanted to go to college, there was no question–she was going to be allowed to go wherever she wanted. For Lauren—who is a teacher—a good education was worth the price. But after helping their daughter through college and graduate school, Lauren and her husband are staring down nearly $92,000 in Parent Plus Loans and wondering what that debt means for their future. Michelle sits down with Lauren to figure out how the couple should tackle their loans, where they can cut back, and whether they can help their daughter with some of her own student loans. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. 00:00 Welcome to Dollars & Sense with Michelle Singletary 01:00 Meet Lauren: A Mom Facing $92K in Debt 04:33 Paying for College While Managing Life's Expenses 06:26 Was Out-of-State College Worth the Debt? 10:33 Why Her Daughter's Education Was Worth the Sacrifice 14:05 The Money Conversations Parents Avoid 15:21 Debt Dash: Breaking Down the Numbers 20:00 Credit Cards, Eating Out, and Hidden Expenses 23:47 Michelle's Debt Payoff Plan: Start Small 27:07 Understanding Parent PLUS Loan Repayment Options 31:27 Teaching Your Kids to Talk About Money 37:13 Helping Your Adult Child Become Debt-Free 40:39 Lauren's Financial Action Plan Hosted on Acast. See acast.com/privacy for more information.

How do I make sense of my money? This isn’t an easy question to answer, and it’s not one you have to answer alone. On Dollars & Sense with Michelle Singletary, the Washington Post personal finance columnist Michelle Singletary gets candid about the financial decisions that shape our lives. Michelle talks with everyday people, experts, and public figures to help make sense of your dollars. Tune in every Tuesday for Michelle’s advice on questions directly from listeners. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. Hosted on Acast. See acast.com/privacy for more information.