Season 1, Episode 11: How much do I need in my emergency savings account?
Figuring out how to get the right balance between saving for now and investing for later, why it matters, and what set it and forget it means when you have your money in the market
Emergency savings accounts are super important, right?
Sara agrees, but worries too many people over-emphasize their rainy day fund and under-emphasize their retirement savings. She tells us how to hit the balance between the two, and warns that we might have to start investing before we're psychologically ready. It's scary!
Caitlin attempts a metaphor involving Wall Street "experts" and seating arrangements on a roller coaster, and asks Sara if maybe this investing thing is just too much for us to ask of ourselves.
Sara wonders why she has a co-host on an investing podcast that still hasn't gotten with the program.
This week, the one thing Women on the Verge of a Financial Breakthrough can do TODAY to take the first, or next, step towards building a strong financial future is figuring out how much she *really* needs in an emergency fund.
Ask us your dumb investing and finance questions on the Ask Us! page.
Music by Bad Bad Hats and Devmo.
Transcripts for Episode 11: How much do I need in my emergency savings account?
Music intro by Bad Bad Hats
Caitlin Welcome to Women on the Verge of a Financial Breakthrough, a podcast, where we're going to figure out finance one dumb question at a time. I'm Caitlin Meredith, a mediator and coach based in the Bay Area, and
Sara I'm Sara Glakas. I'm an investor, advisor and the founder of Black Barn Financial and the Austin Women's Investing Group, which can be found on Meetup.
Caitlin So when I met Sara, I think the pinnacle of my financial success at that point had was a summer where I worked as a waitress and I put all of my tips and a shoebox for the whole summer. I didn't spend any of them till the end. And it was like $1,500 in ones rolled up in that shoe box. And I kind of thought I'd never, it would never get better than that. And then I took Sara's investing for beginners class, and I realized that the shoe box dream, I had to grow out of that and have a different idea about what building a financial future would be. So we made this podcast so you can get some out-of-the-shoe-box ideas, too. So welcome.
Music transition by Bad Bad Hats
Caitlin OK. Sara, I have a question for you.
Sara I'm ready.
Caitlin And I love asking you about this because I love it when people have strong opinions about stuff I don't care about, it's just a relief that I don't have to fight all the battles. So here we go. Sara, what do you think about high yield savings accounts?
Sara Oh my gosh, we've had this conversation so many times, haven't we? About high yield savings accounts? OK, so I love the idea of the high yield savings account. If you have some cash sitting aside and you have nothing better to do with it, then you should try to put it in a high yield savings account. But I do think that by and large, there's an overemphasis on kind of this idea of people building up their high yield savings account and spending so much bandwidth and so much time and effort to build up a cash savings account that in this interest rate environment probably only earns 0.5 percent, maybe one percent maybe gets up to one and a half percent. And that's just frustrating,
Caitlin Yeah, I just have to say this is the most mild response she's ever had to me about a high interest savings account. So she's really keeping it low key right now.
Sara Oh my gosh, I feel like you should do an impersonation of me in our previous
Caitlin The anger, the anger translator like who has time for these high yield savings accounts. But first, I wanted to talk about like what one is. So a high yield savings account is where, a savings account, so you put your cash in it and it has a usually a much smaller interest rate than any other way You could make money by putting in it. So it feels good because you're getting this free money, but by a smaller interest rate. In other chapters of our financial existence has been like two percent. I mean, what do you think the highest interest rate you've ever seen for a high yield savings account has been?
Sara Yeah. Recently, I think at the end of 2018, maybe high yield savings accounts got to something like 1.75 or 2%, but only for a few months. Not for very long,
Caitlin Though it was an amazing, it was a heady period those two months. So for people like me, it feels amazing, like here's $2,000 that I've managed to save up, and I can put it, it's like cheating the system. Instead of a regular savings account, you find a high yield when you Google. What's what are the interest rates right now for savings account? You find an online bank and you put your money in there and then like next year, you have 17 extra dollars in that account, and it just feels like this is how you get rich. Apparently, that is not Sara's approach. And so I think it gets back to this idea for people or women in general that feel like what we can touch and have access to and that makes sense. A savings account is already really familiar to us, and it feels safe. We can get the money if we need it with this added little perk that we make money from it, even though it's very low. So when you compare putting that $2000 in a high yield savings account and making at the best of times, 1.7% interest, but now it's like .02% or something, so like really pennies that you would be earning. You have to look at it a little bit differently and then compare what would that $2000 do in a different kind of account that could have a higher interest rate. So your frustration is that all of this time and energy that is spent on them would be better used to thinking about which index fund to put that $2000 in.
Sara Yeah, I mean, I think that the amount of hours that investors that they put into finding the high yield savings account and then filling out of the paperwork to move their money from this bank to that bank. I mean, it starts adding up. And when I think about just that amount of time for that extra $17 or whatever that you know that you mentioned when you translate all of that work to that, the number of dollars that you make going from a regular savings account to a high yield savings account unless you have a million dollars, the number of dollars that you make is very, very small and you just spent a lot of time making that decision and doing all of that research. Whereas I think that if instead of spending all of that time and all of that bandwidth becoming an expert on high yield savings accounts, if you start pivoting a little bit to, is there a better long term option for this money in the first place? Maybe it shouldn't be in savings. Maybe it should go into a Roth IRA that's invested in an index fund. Or maybe I can make an additional contribution to my 401k that I think that those decisions are, the time is better spent when you really zoom out and take a look at your financial plan in general over the long term.
Caitlin I think this gets back to this real nervousness that I have, and probably especially because I'm freelance and so I don't have the regular paycheck is like how much cash on hand I need to have at any given time versus like throwing everything in the market. And I'm curious like that is what it comes back to for me every time other than like being afraid of what happens in the market and that just being a scary, intimidating world where I don't understand it. So like putting my money there feels like a huge gamble, whereas a savings account feels secure and known and familiar. But also just like how am I supposed to figure out how much I can afford to put in an investment account where I don't touch that money for 20 years, 30 years, whatever versus what I need to have my hands on? What question am I actually asking you right now? I can't figure it out.
Sara Yeah, I think the question is how many months of living expenses do you need to set aside in a high yield savings account so that if there's an emergency and for most people, the emergency, it's losing your job or losing your income if there is an emergency and you lose your income. How long can you pay the bills? That's really the question, right, so it's based on what you know about your work situation. What's a worst case scenario from an income perspective?
Caitlin Yeah.
Sara That's different for everybody. Right, it's different if you're a W-2 worker, it's different if you work for the government or if you're a teacher or if you're a freelancer or you're an Uber driver, right? Like all of those people have different income expectations. So I think you have to think through the variability of your income and if you have a highly variable income situation, you probably need more set aside in a high yield savings account. And if you worked for the state or are a teacher and you're pretty sure you're not going to get laid off, then you have pretty low variability in your expectations. And so you probably don't need as much set aside in a savings account.
Caitlin So is the rule of thumb like six months of savings, like what's the gold standard of having like cash you can access without penalty to maintain your lifestyle if the shit hits the fan?
Sara Yeah, I think that people usually tell me or ask me as to whether it's six months of salary. And I tend to think, I mean, I
Caitlin Jesus. Who can save up six months of their salary?
Sara I know. I mean, so what happens if you get stuck on this particular goal? And the way that you view your financial picture, you think, OK? Step one, save six months of salary in a high yield savings account. How long is it going to take you to do that?
Caitlin Yeah, and I won't be doing anything else.
Sara Right? So this is where the fetish of the high yield savings account starts to grate on my nerves because
Caitlin It's a fetish now.
Sara It's a fetish. Maybe that wasn't the right word to use, but this is, now, now I'm starting to get mad.
Caitlin I'll keep picking at her, listeners.
Sara That if you have this somewhat arbitrary goal that you're working towards because of a rule of thumb and you get no help from this high yield savings account. It's not, there's no chance it's really going to earn you any helpful amount of money, no matter how long you're doing it. If you get stuck on that step one of I have to have X number of dollars in my high yield savings account and the months are going by and the years are going by, and you're not putting any of that extra savings into something that does have a chance of compounding over long periods of time. You're not really getting ahead. You are, and I don't want to totally pooh pooh the savings account. I love the savings account. It is really, it's vital during times of lost income,
Caitlin Especially the pandemic taught us all that we needed a cushion that we just couldn't imagine before.
Sara Absolutely. Where I get frustrated is seeing people get stuck and not being able to get past that that goal, because that goal for a lot of people is so, so difficult to get to the six months of salary. I tend to think like, OK, go back to what is your budget? How much money do you need to pay the bills so your expenses are actually more important than your salary? Maybe you need to start with two to three months of living expenses in a high yield savings account and then at that point, all of that extra saving that you're doing, maybe you can split it between the savings account on your way to six months of expenses, not salary. And then you can put start putting some amount in a retirement account and giving it a chance to really grow over 10 years or 15 years or 20 years, but not just sticking to that one goal of the emergency fund until it's 100 percent achieved.
Caitlin Yeah, I think there's something so confusing to me about that part, about sequencing. Like what sequencing? Like step one, step two, step three, and what's, like, you need to do all of these steps at the exact same time and then calibrate, like, what do you put in savings? There's going to be a bunch of buckets that your money needs to go in that isn't for your immediate savings. It could be college savings for your kid, which we'll talk about in a future episode. It's your retirement. It's emergency savings. And there's something intuitive about like, fill up this bucket and then you can work on the next bucket. And I think that's not the right approach, but it still feels scary. That idea of doing both at the same time, like if my emergency savings aren't where they need to be, am I really in a position to put a few dollars in my retirement account or not?
Sara Yeah, I can see how that's scary. I think that, like with that piece, the investing piece. More people need to start before they're ready. I mean, we talked about compounding right and the power of compounding over time, and that the most important element is time. So the more time you're not doing it, the less powerful the effect. But that is really scary because I mean, there's all sorts of reasons that you would want to make sure that you didn't leave yourself at risk by not having enough in the savings account, right? Because you wouldn't want to be that person that got laid off and you only have five months of living expenses in your emergency fund if you actually needed six. And that was the event that you sent your family into financial ruin. Right, right. That's the worst case scenario that people go to, but they don't do the calculations for another really, really bad case scenario, which is that by the time you start investing, you don't have time to grow your money as large as you need it to be by the time you retire.
Caitlin So it seems like that there will be rules of thumb and you say like, I'm working towards these two goals at the same time. One is to get my emergency savings up to three months of salary plus expenses. The other goal happening at the same time is to start building my or continue building or whatever your retirement accounts or your investment accounts. And so then it's easier to think in big numbers. So if I have $100 extra a month in the beginning, it makes sense to put the 70 in the high yield savings account to build up that reserve for the like, now, now, now, emergency and that I put the 30 and the investment account for the later in later emergencies, and that over time it can go to 50 50 and then start down the other. That you could kind of chart it in that way. Is that is that what we're talking about?
Sara Yeah. I mean, do you remember when we did that episode on compounding?
Caitlin Yeah. It scared the shit out of me. Yeah, yeah.
Sara It's scary, right? Nobody likes doing those calculations, except me, right? So like, you can come up with the answer to these questions if you think of three basic goals for your money. One, be safe for the short term. Two, grow enough for the middle term, which for a lot of people is college for their kids or get ready for retirement. You can do those time value of money calculations to see which goal is farthest away. By that, I mean. Which goal do you need to focus on to get it back on track? And then prioritize that for all of the savings that you have now, right, you can find out like, Oh, I'm I'm OK on my high yield savings account, but I am really behind on my retirement savings. Now I need to take my monthly savings and put more of it towards the retirement account because I'm actually behind. I'm behind the eight ball on that goal or I haven't even started the 529 yet. I really want to. I need to stop saving so much in the savings account and start putting it somewhere else or vice versa. Like, I'm actually right on track for the retirement account, but I'm feeling in the short term, I'm a little exposed. I'm feeling a little nervous about the short term. I mean, what if for a month or two you can turn off your retirement savings and put all of that money in in your precious high yield savings account and find that short term peace of mind? It's really hard to make these decisions based on rules of thumb. You have to do the calculations to know where you are, which goal are you on track for and which goals are you ahead of the game? And which ones are you behind the game? And I think that's where most people kind of they don't know how to run the numbers. They don't know who to ask. They don't have someone to run the numbers for them. So it really feels like you're flying blind when you're trying to allocate, you know, like I have hundred dollars left at the end of the month. Where does it go? You can find the answer to it by doing those time value money calculations.
Caitlin Yeah. And when you think about like full austerity, you can think about that for immediate needs like, Oh my god, I lost my job. Like, no more Starbucks, cut the cable, cut the credit card. Like, we have a very strong cultural societal script for when this shit hits the fan and the in real time now, like no excess, you know, rice and beans for dinner. We we kind of know what that looks like. But doing the same steps for some future goal feels very threatening to me, like the degree to which I need to really make some big sacrifices in my daily life right now for this imaginary financial future 30 years down the line is super confusing. Like it should feel as real to me because it's me. Hi, it's me again in 30 years. I'll still, you know, want my high end hot cocoa or whatever it is, but the degree to which you cut to make those retirement goals, I think, is just less clear. There's less of a script for that for most of us. What do you think?
Sara Yeah, that's absolutely true. I mean, I'm pretty sure that studies have been done on that exact exact phenomenon that we just have. We would rather have something in the present than prepare for something that we're going to need in the future. We're just not, our brains aren't good at it.
Caitlin It's a very old story.
Sara Yeah, I mean, but I think I mean, for me, the numbers tell the story and hopefully not in a super scary way. Right. But the numbers can tell the story just to help you make more optimized decisions in the day to day. And some of those decisions can be automated, right? Like if you run the calculations and it turns out you're a little bit behind in your retirement savings. If you can log into your work for a 10K and up your contributions by $200 dollars a month to get yourself back on track. Those are like relatively simple steps to take that once you have the information, a lot of people can make the adjustments and I think feel really good about making the adjustments in order to get some piece of their financial picture back on track. And then it doesn't have to feel like so much sacrifice or its sacrifice for like, not totally known, but a known outcome like, OK, we definitely want to make sure that we're financially secure 30 years from now. So we're able to make the sacrifice now in order to get that because it is actually really important to us and we're willing to do it.
Caitlin So on the one hand, we're supposed to put this money into an investment account and feel really good about ourselves for taking care of ourselves 30 years down the road, 20 years down the road, wherever you are, 50 years down the road, young people, but on the other, we're not supposed to look at those numbers. You know, like what's so nice about a savings account is that number stays the same. So you put $5,000 in your savings account and it's like strong at that five, you know, 5,017, 5,018 every year, up a little bit. But like, that's a strong number you have. Like, I did this and it turned out to be that. Well, what we're trying to get people to take is this leap of faith to say, I'm going to cut out hundreds of dollars of my monthly budget money that I could be spending on, you know, shoes and lattes, and put it in a retirement account. The total balance of which I have to ignore for 30 years. It's not very satisfying because I mean, obviously when there's upturns, it feels amazing. But over 30 years there's going to be a lot of downturns too. And so it's just the leap of faith on top of the leap of faith to just be in the stock market. Is it too much for our little human brains to take on those of us in the middle here that aren't completely on the margin, but also are nowhere near the one percent or whatever like? That's a lot for us to abstractly take in and value.
Sara Yeah, I mean, but that's what the podcast is for, right? You tell me, I mean, what can we do to make it less scary or.
Caitlin What can we do to convince the co-host that it's really worth investing?
Sara I know. I mean it. It has to be.
Caitlin Poor Sara.
Sara It has to be done. There are so many people who haven't taken any of the steps to make sure they're going to be financially, financially secure in the future. And that's I mean, that's what this whole exercise is for is like, can all of those people who've been too scared to take the next step or have it known how to take the next step? How can you convince people this is important? I mean, is it important? Maybe I'm like, maybe I'm making my own assumption. Like, Is it important?
Caitlin No, it's super important. And you know, we just when we think about wherever you are in your generation and if your parents, their financial situation, what your kids are going to be in like these have huge consequences for all of us. If our parents haven't been able to save for retirement for whatever reason, those are consequences that will be felt in our lives. And if we don't, it'll be felt in our lives and also in our children's lives if we have children. So it's super important. I I don't I'm sorry, I'm not introducing the topic like, should we really care about this or not? But I can't believe here we've been friends for years. I've taken your class. I believe all what you're saying, and yet I'm still having these internal battles. And so it's just revealing to me the extent of the resistance. And it's partly the fear. It's partly lack of imagination that sort of like the here and now always look at the priority and just keeping motivated with . A of what you're building without being able to see it. You know, you build a house. You see the house, you know, each timber that gets added, you can see it. And this is building something that's just has to be your faith that you're doing the right thing. Understanding the system and that you will get the rewards from that.
Sara Yeah, I mean, because you're right that there is a cost to it, you're giving something up today to have hopefully something more in the future. Right. And that is a real cost. But you know, it's it's easy for someone like me to just gloss over like, well, if you need to save money, just save the money. You just figure out what to not spend it on and then you save it and you invest it. And then it magically turns into this much in 30 years and we can do that calculation. So I think you're I mean, I think you're right. If you're not as confident or if you're being asked to do this on faith and you'd like anything else you're asked to do on faith. Most people are going to have a really hard time doing that. That's really challenging for almost anyone to do something on faith. Especially something that's new or that they don't have a background, where or where they've seen other people also do something on faith and not have it work out. And those are things that just really stick with you.
Caitlin Well, it's what I appreciate so much about your explanation for compounding interest. I mean, for me, going back to that concept and, you know, for me, for anybody that knows anything about this stuff, and I hope I do, at least after doing that episode is like, Oh, right, that like, what do you think of keep your eye on the ball? That's the ball. You got to keep your eye on, the time value of money and that what's happening now, that sort of exponential reward, the cycle that I need to be participating in to benefit from. That's where the ball is for me. And yet it's something that I have to actively remind myself of. I don't feel it in my bones. It is a very intellectual process. And I wonder if you feel it in your bones.
Sara The compounding?
Caitlin Yeah,.
Sara Yeah, I do, but people often ask how I can do what I do because so much of it is stock market focused. Like for myself personally in my own personal financial plan, I don't think about or register stock market volatility in the short term, because I'm really clear as to where I'm going and I don't need to know how I'm going to get there. I don't need to know the exact route, but I do have faith that somehow we'll get from point A to point B.
Caitlin Well, I want to understand this, you are talking about you don't know the route that will take the path it'll take, but like the the system you've set up for yourself personally, for saving for retirement, you have faith in that you what you build, there will be a building there at the end. You will get to live in comfortably within your means forever. But when you said you weren't sure the path, I thought it meant which stocks you would invest in and change your mind about the fund there or there. But really, what you meant was how that line on the graph for the market's ups and downs could show up a million different ways. But what your confidence is is that the overall picture is that over that period of time, it'll get you where you need to go.
Sara Yes. I mean, people say they're in it for the long run and also they want to know which direction the market's going to go next year. Well, yeah, I mean, we want to be out of stocks when the market goes down, but we want to be in when it goes up. So can we just do that? Can that be our strategy?
Caitlin I mean, can we do an episode on how to do that? That would be amazing. That's not that's how it works. But by definition, this system
Sara all the time that happens all the time, right? And there's just, I think, out there, I don't know, just some sort of, an idea that someone knows the answer. Someone knows enough where like Bernie Madoff, you just get your 12 percent per year without any downside. Right. And that's what I want is the 12 percent per year without any downside. It's like, Yeah, that's that's what everybody wants, but it doesn't exist. And that part, I think it's really, really difficult for people to come to grips with.
Caitlin But Sara, when you first described that to me, like after taking your class, it was actually the most liberated I have felt about the whole investment advisor industry of which you are part and I don't put you in this club. But like it was so freeing. Like, those idiots don't know anything more than I could like. It's literally impossible for them to predict the market moves. So like, wow, like the emperor has no clothes. And so I'm as good of a judge in that no one could be a judge at all. And so like, fuck it, like, go in. There's no waiting for the right reading or the right podcast or the right anything. It's like you participate and you put your money in and you do the smart thing about where index funds versus individual stocks and you're on the ride, you're next to the Wall Street stock analyst on the roller coaster. Like you guys actually have the same seats. He doesn't have any. He's not like in a forward carriage where he's going to tell you, like, Oh, there's a drop coming, you're sitting in the front together. Yeah. And that actually opened the whole world up to me. It's funny, like the idea that nobody could be a real expert, except you. You're the exception. Just kidding. She doesn't market herself that way, but it's like, Oh, really, any of us can do this. We just have to have the money in the market and not like, there's so much arrogance that comes along with people that are advising and who say they do have insider secrets. And essentially they're paid to just, like, be confident, but not be true.
Sara Right, right. Yeah. Now I feel like there is value, either developing the skill or looping in a professional to have someone to talk to you about why whatever happens is happening in the market isn't as bad as you think it is, right, because like a lot of people, I think attribute risk to different events. And they don't hide it.
Caitlin So you guys, I think Sara was just describing the text stream I sent to her during the pandemic. I had let him be like, Oh my God, but this is the real one, right? Like this jump ship, right? It's now, like this. So I think she was just in a very diplomatic way, talking about one of her crazy friends, texting her every time she read a headline and was like imminent economic collapse. Please advise. You know, and talking me and probably every single other person she know down to like, No, you guys, this is what I've been talking about, the whole thing. Like, actually, nothing has changed, which is just unbelievable. And you have a very hard job, and I'm so glad you're the person I get to talk to about this stuff.
Sara I love getting your text messages, too. I love I love hearing what the people are thinking about, what they're worrying about. I never get text messages about like people being really excited about something in the stock market, so people do not copy me on those messages.
Caitlin You're not our good news, girl.
Sara I'm not. I know I wish I was. But so if you have any, anything good to send me. Like, oh, hey, this technology is really promising. I think that everything's going to be fine.
Caitlin Oh hey. She wants insider tips. That's what this is all about. She's going to rate the market OK and upcoming episode. There's so much to unpack from this one. Definitely college savings accounts. What? Sara has some very interesting ideas on that realm, and I'll think of a bunch of others. So thank you so much, Sara. Oh, thank you, Caitlin.
Music transition by Bad Bad Hats
Caitlin OK, so Sara, what's one thing a woman on the verge of a financial breakthrough can do today to start pushing forward her financial future?
Sara I can't believe I'm about to say this, but since in this episode, we talked about the emergency fund. I'm just going to talk about the emergency fund for a second. So I think in a previous episode, we talked about figuring out what your actual budget is, right? Again, like something I really personally dislike is putting together a budget, sticking to a budget, knowing what the budget is, but it is very important. So since you have already done that, you can take that monthly budget number and then multiply it by, let's say, three months if you're in a relatively stable industry. Six months, if you're in a mostly stable industry or nine months if you are in a very volatile industry.
Caitlin Oh god. All right. Listening neutrally.
Sara So it's your budget times, either three or six or nine, that now can become your target for your emergency savings, which you can put in your high yield savings account.
Caitlin Yes.
Sara But I would also say that once you have that number and you're working towards it. Once you get to let's call it like 50 or 75 percent funded, take down the amount that you're putting into the emergency fund and start diverting it into bulking up either a 529 plan or something earmarked for college or something earmarked for retirement so that you don't get stuck trying to get to 100 percent funded. A savings account that while you are doing that, at some point you start. Parallel path. Those two goals and using money not only to take care of your short term self, which is very important, but you also start making time and making room in the budget to fund for your long term retirement needs.
Caitlin It's such a useful way to think about it, and I really I feel like we can't overemphasize enough the value of even $25 a month and a retirement or an investment account like to not just wait to start till you can do something contribute something that feels super significant, like in the hundreds or something that starting as small as you can even if you're still building up your emergency savings for that first three months or whatever that you can still just even $25 that it feels important both symbolically and financially to be doing those at the same time.
Sara Yeah, that's right.
Caitlin And I cannot believe you just advised people to have a high yield savings account just like you got layers, Sara, you got layers.
Sara I know, I know that it's it's good for all of us to have it. It's just a really boring part of the financial plan. And so I like to skip the boring parts and go straight to the exciting parts. Yeah, but it is important to have to have that, that safety net that you built for yourself. So I'm not officially pooh poohing it. I'm just saying don't over emphasize the safety net because your long term investing plan is super important, too.
Caitlin Yeah. Yeah. OK. Thank you so much, Sara.
Sara Thank you. Bye.
Music transition by Bad Bad Hats
Sara Hey. Do you have any dumb questions about finance or investing? Send them to us at our web site womenontheverge.com
Caitlin Hey, so many thank yous to Kelly West, a woman on the verge in her own right who took the amazing photos for our album art and website helped with our website design, music, audio editing, cheerleading, mental health, everything. Emily Kleinsorge, our stylist that did our hair and makeup for our photos from Lucy Skyrocket. Lauren Gross and Taylor Gross, who helped us with our graphic design. And
Sara and our music is by Bad Bad Hats and Devmo.
Caitlin If your partner is making you ask for money, giving you an allowance, taking your money or not letting you know about or have access to family income. This could be economic abuse.
Sara Learn more at thehotline.org or call one 800 799 safe.
Caitlin So Sara because you're a financial professional, when you have to read a disclaimer for this podcast,
Sara I would actually really love it if you could read the disclaimer and your best legal voice.
Caitlin OK. Doing it. This podcast contains general information that is not suitable for everyone. The information contained herein should not be construed as personalized investment advice. Past performance is no guarantee of future results. There is no guarantee that the views and opinions expressed in this podcast will come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security.
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