Season 1, Episode 8: Like, literally, how do I start investing?
Opening an investment account, with help, and thinking twice about stock trading apps like Robinhood
How do I actually "get into the market"?
Sara tells us how to literally start investing by sharing the first three steps. They're so simple that ANYONE can do them.
She pleads with us to stop trying to make perfect decisions with all of the available knowledge - just freaking open an account and get started. Promise that you can refine and update your strategy as you go.
We also talk about the hazards of treating investing like a game and getting caught up in quick trades through apps like Robinhood. We're in it for the long haul, right? So let's set up a system that works for us, instead of working for a system that can very easily fail.
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 opening a freaking account by using the three simple steps.
Ask us your dumb investing and finance questions on our contact page!
This episode was edited by Jes Rowe and Kelly West.
Music by Bad Bad Hats and Devmo.
Transcripts for Episode 8: Like, literally, how do I start investing?
Music intro by Bad Bad Hats
Caitlin Welcome to Women on the Verge of a Financial Breakthrough where we are going to figure out finance one dumb question at a time. I'm the dummy, Caitlin Meredith, and
Sara I'm Sara Glakas, investor advisor and founder of Black Barn Financial and the Austin Women's Investing Group, which can be found on Meetup.
Caitlin So I first met Sara when I signed up for an Investing for Beginners class at U.T., and at that time I had two retirement accounts, one from a nonprofit job and one from a government job that I hadn't looked at or thought about in 10 years. And I had no idea how I would actually ever even know anything about them again. It felt like it was like a shoe box buried in a backyard of a house I had lived in years before, and that it was essentially unknowable what those accounts were, what they had on them, and how I would ever access the password, the money or even the name of the institution that held them. Taking her class gave me the courage to start investigating. Eventually, I found them, and this podcast is another attempt to find all those buried shoeboxes in backyards that are holding the potential to our financial futures. So welcome.
Music transition by Bad Bad Hats
Caitlin So we're talking all about like, what is a stock and how important it is to invest and why women should participate, but literally Sara like on the most basic, literal level. How the fuck do you start investing? Like, not just like, yeah, you get in the market and you whatever. Literally sitting at your table. What do you do?
Sara OK, so the very first step is you need to open an account somewhere. So opening the account is important. The account is what is going to hold your investments. So for a lot of people, maybe the majority of people, you probably have access to a retirement account through your employer if you are a W-2 employee, so you might have a 401k that you have access to. You might have a 403 B.
Caitlin That's for nonprofits, right?
Sara That's right. And the actual name of it or the numbers doesn't matter.
Caitlin OK.
Sara The idea is that you just call H.R. or call payroll or go to the website that they email you and you open this account through your employer. So that, for most people, is the very simplest way to start investing, OK?
Caitlin And you might already be investing because you just like said yes, yes, yes, or you didn't say no to them opening a retirement account for you.
Sara OK, yes, that's what happened to you, right?
Caitlin Yeah. Every job I had that had one, I would get in on the system, but then I never followed anything after that. So it was just like the least amount of energy and effort I could put in for them to stop asking me questions. And never to be seen again. OK. But for others of us who do not have a W-2 and don't have a quote unquote real job like that, oh, where do we start?
Sara For all of you podcasters out there, it's like if you don't have access to a 401k or something like that through your employer, you're going to want to open some sort of individual account. So I don't want to get too bogged down into the features and benefits and strings attached to each type of account. Is that OK?
Caitlin I really like a good bog down because then it excuses me from actually acting because there's like way too many details to consider to be able to, like, go forward.
Sara That's what I'm trying to avoid here. So if you don't have a 401k at work, you're going to want to call someone. So you're going to want to call a company, someone like Vanguard or Schwab or Fidelity or TD Ameritrade, which is actually about to become Schwab, Betterment, Wealthfront, ETRADE and just listing a whole bunch of them because this part actually doesn't matter that much. OK. And you're going to want to open an account that's attached to you personally. So your Social Security number, this might be an individual retirement account or an IRA. It might be a Roth IRA or a traditional IRA. Hold on before you get to the IRA question.
Caitlin OK.
Sara You can also just open an individual brokerage account in your name. That's not a retirement account.
Caitlin OK, stop you there, brokerage. What does brokerage mean?
Sara Yeah. So when we talk about a brokerage house or a broker dealer, these are the companies that are set up where their business is allowing you to transact buying and selling something. So think about a real estate broker.
Caitlin Yeah, a broker. I can see that. OK, yeah.
Sara Yeah. A real estate broker facilitates the transaction between the buyer of the house and the seller of the house, right? There's lots of paperwork and rules and things to be a broker. And so these brokerage houses or mutual fund companies or investment companies are set up to basically handle the paperwork and be the custodian of your account.
Caitlin So they're the middleman or middle woman, middle people between
Sara I'm going to say middle human, but that didn't work
Caitlin between us and the stock market.
Sara Yes. So if you call one of those companies and honestly, just pick one. Just pick one and call them whatever your favorite is or whatever company you already have an account with, or someone that you know and trust has an account with, call their customer service line and kind of explain your situation because all of those customer service reps. First of all, all of these companies want you to work with them, so they will give you lots and lots of information for free and walk you through all the ins and outs of opening an account with their firm. But you had experience with this.
Caitlin I was just going to say I can offer a testimonial here. I'm trying to remember why I called Vanguard, I'm sure someone had told me like they have more low fee, I was attracted by the idea of saving money, which is kind of funny since I had none. The numbers are very low, but I did that. I literally called the number and was like, Look, I had a 401k from a job. Ten years ago, I had a 403 B, I guess, but I don't think I'm allowed to contribute any like, what can I do now? I get 1099s, how can I give you guys money and you make more for me? What is the account for me? And they told me all of my options. They were ridiculously educated customer service representatives. I have to say
Sara Yes, and we don't get anything from any of these companies, yet. Right? For women on financial breakthrough.
Caitlin Hi Vanguard!
Sara I know. So not yet. But maybe one day we'll have sponsorships. But like all of the especially the big brokerage houses, the big investment companies, again, they are competing for your dollars. So they do spend a lot of training hours and time and money training the customer service reps to be as helpful to you as possible. So if you just call them and say, Hey, this is my income, these are the accounts I already have, or if you're truly starting from scratch and you have never opened a single account in your entire life, they'll be able to guide you towards the account that they think would work for you in your situation at that moment in time.
Caitlin And I just want to make it clear like that information they gave me, and I'm assuming this would be true for anyone telling me that I qualify for like a solo 401k or whatever it was when I called that information that any of them would give me. It's not just like, Oh, you get this kind of account if you call this company, those are company agnostic. That's literally by law what I qualify for, the information they're giving me, not just like a special cell phone deal that they give me and the other company, I'll have to like figure out which is a better deal between the two companies, right?
Sara That's right. They're just reading you the IRS rules back to you, the IRS. There are lots of rules about what type of account you can put money into, how you take the money back out of that account. So especially for things like IRAs, 401Ks, any retirement account, there arerules that are set up in advance that you could go learn more about on the IRS website. We will probably cover it in a future episode. But, you know, I don't want to get too bogged down. We're still on step one right of how to literally start investing, and we're still talking about opening an account, I think from my perspective. I've seen so many people like run into these roadblocks of wanting to open the perfect account right off the bat and do everything perfectly like you kind of mentioned before. It's a good excuse to stop moving forward. Yeah, when at least from what I've seen in the hundreds or thousands of people that I've talked to, this is not a catastrophic mistake you're about to make by opening a Roth IRA instead of a traditional IRA or a brokerage account instead of a solo 401k. It's like everyone can open an individual brokerage account. It's not a retirement account. Anyone can open that. So that could theoretically be the default that's available to everybody listening. You know who is of the age of majority, right? You have to be able to sign a contract, but don't get too bogged down in the details. Just open the account because then the second step.
Caitlin Wait, Sara's take home from step one is just open a freaking account. It does
Sara Just not pick something.
Caitlin Not matter which kind it is
Sara If you are literally starting. If you are just trying to start, just open a goddamn account, just open something,
Caitlin OK, and let, but just I have so many worries when you say that because I'll do it wrong the first time. Can I change in six months?
Sara You might be able to change the account, or you might be able to just open a new account that you like even better. Right?
Caitlin Because I was just thinking about that, I think I did start with one and then later found out through more people I talked to, actually for your situation. So I just opened another type of account and started putting money in that one. I didn't have to close the other one. The other one didn't blow up and bite me in the ass. So there's no downside to opening one. And then later, six months being like, Hey, actually, I'm going to do this one. And it could be instead of or in addition to the one that you start today, right?
Sara If you're worried about things like income limits again back to what you said, call the customer service line and or get on the IRS website and read up on the strings that are attached to different retirement accounts. But there is a retirement account out there that you're eligible to contribute to if you earn money. And if you don't earn money and or you don't want to open a retirement account, specifically, just open a regular individual or joint brokerage account. Okay, so now we've opened an account. Right? Step one.
Caitlin Done. OK.
Sara So step two. Now put money in the account that you have opened.
Caitlin OK.
Sara So these are usually called contributions or deposits, right? So you have to take dollars from somewhere else and put them in this new account that you have opened. Right? You can send it by a.c.h. You can write a check if it's an employer sponsored plan like a 401K, you defer part of your paycheck, so they just take it out for you. OK, but you need to get some good old fashioned U.S. dollars into the account.
Caitlin OK, now I'm getting nervous that I don't have enough money to start this. Like that sounds like buying a house like I need a down payment that was thousands of dollars. Like what is the bare minimum amount of money that I would have to have available to start one of these accounts?
Sara That is a really good question. I mean, but I will say over the last few years, most brokerages have reduced the costs of these types of accounts by so much that you could legitimately start with $50 or $100.
Caitlin So if I had it in my head that I had to already have thousands of dollars to start investing, that's totally wrong. I can start today with my $100 and yet another question to ask the customer service person, How much money do I have to have to start one of your accounts?
Sara Exactly. Because most of these places, if you have $50 in your account, you will be able to buy something in step three, which is choose some investments that you want to buy. So if you have $50 or $100 or a $1000 or a million dollars. Step three now is to take those dollars and use them to buy some type of investment. Right. We're trying to buy something that we expect to increase in value over time. And so we can do that by buying individual stocks, which if you are just starting out. Just don't go down that route. It's a total pain. You can learn more about that later. The way that most people start, so the investment that most people choose when they buy something, most people start with something called the target date fund. And what a target date fund is. And all of these companies that we talked about before have target date funds. It's a special mutual fund that the companies have put together based on what year you think you will retire. So if you are relatively young and or you have a relatively long career ahead of you, maybe you're not going to retire until 20, 55 or 20 65. Those target date funds will be more aggressive, meaning more in stocks. If you're getting closer and closer to retirement, maybe you would pick a target date 2030 fund or 2035 fund as you get closer and closer to the date that you think you're going to retire. Those funds automatically get they sell some of the stocks and buy more stable investments like bonds and even cash.
Caitlin But the main point is you don't have to make any decision. They've already put together this gift basket that has, you know, some of the cheeses, some of the chocolate, nuts, a little bit of fruit. It's all so you don't have to decide for yourself. They've done it and they've done it for someone like you, at least at your age. And so you don't have to sit there like me being like, I don't know, I heard like stocks are good. They've done it. Just choose it. And then later, like everything else in this game, you can refine it later when you find out more. But if you're starting today, that's what happens.
Sara Yes, the target date funds are great set it and forget it decisions. I think I'm going to retire on or about 2040. I'm just going to invest in this Vanguard Target Retirement 2040 fund.
Caitlin And if next year you decide no way, I'm working an extra 10 years when you start buying more stocks, you can buy the fund for 10 years later. Totally. Nothing is fixed. No decision you make today when you call them. It's forever. It's all changeable.
Sara Yes, it's all changeable, so it's nothing to get bogged down in. But, you know, because we talk so much about time value of money, it is important to start doing this as soon as you can, right? Because that 2040 fund or 2050 fund or 2030 fund, whatever it is, you know, should start increasing in value. Maybe not necessarily tomorrow, right? Maybe not six months from now, but hopefully a year from now and hopefully five years from now. And there's a really, really good chance 10 years from now and 20 years from now. But you have to get the clock ticking right now. You can't put this off and spend in a year or five years researching the perfect investment. You are losing the most valuable part of your investing experience, which is your time. So you just have to make these decisions and move on with life.
Caitlin Well, I was going to have you make the really insistent point because I do think for me, I thought I'd have to have saved up some critical amount of money and then be like, I'm going to the market, I'm going to buy some stocks. And I think in my head now, what I figured out is if I did $100 a month now, that would be better than waiting a year and investing $1,200 in the market. And that doesn't make intuitive sense, but I think what I've learned from you is that's actually better investing.
Sara It's a better way to invest if it might not be better over the next 12 months. But if you invest that way, putting $100 a month in every month starting now, it eventually will be the right financial decision. Instead of sacrificing all of those months that people sacrifice or all those years that people sacrifice to trying to create, like the most perfect and most tax efficient and most inexpensive and most beautifully diversified portfolio like that is just a trap that people fall into. It's like checking all of these other boxes that do not make as big of a difference. They don't move the needle as much as just starting and getting that money invested and getting it growing.
Caitlin And you just said another word. I want you to explain tax efficient. I feel like only investment advisor and CPAs use that word tax efficient, and the rest of us have another way of saying it, and I need you to connect the two.
Sara How do other people say it?
Caitlin We don't want to pay taxes. We want to find the the way to pay the least amount of taxes. I believe in taxes, by the way, but I just feel like the rest of us are like, Oh yeah, you, you can get a tax break on this, and you guys have to say it in this very deliberate way that has to not sound like tax evasion. And instead, you have come up with tax efficiency, which really means paying the least amount of taxes possible.
Sara Right, right. So as you go through your investing journey, you will figure these parts out. You know what accounts you contribute to, what types of tax benefits you get for contributing to, which accounts what the rules are for making distributions. But this idea of tax efficiency is it to me, it's it's a lesson you learn down the road when you have a bunch of money that you want to be more efficient with if you are just starting out right? And this episode is like, literally, how do I start? It's like you do not have any tax problems right now because you don't have any money.
Caitlin By definition,
Sara You have no capital gains, right? Which is awesome. No capital gains tax because you don't have any investments. So just stop, right? Just stop. And as you go on your investing journey, right, as you grow more and more wealth, you will loop people in like me or like your CPA who will help you become more tax efficient and or you're going to learn it yourself as you go.
Caitlin So, so you're like, you should be so lucky to have tax problems. That's what we want for you.
Sara Exactly. Once you have some sort of critical mass, then you're going to have to worry about taxes. But but being tax efficient does not lead to wealth. I think that's actually like a myth that's I don't really pervasive in this industry. It's like,
Caitlin Well, rich people seem so good at not paying taxes, so we equate the two.
Sara They did not get rich by being tax efficient. They got rich some other way, and now they are very tax efficient because they're bringing in all of these experts to understand the tax code. But for people starting out like, yes, you want to, you want to keep as many dollars in your account as you possibly can. But if.
Caitlin In a legal way,.
Sara In a legal way, but if you are literally starting like this question, you know, is is asking, how do I literally start? The tax part is such a small percentage that it doesn't matter. Right, it's just not something to spend a lot of time on.
Caitlin I love that you're saying this because I feel like you get so when it's combined with retirement accounts, that's like all people talk about with retirement accounts is like tax savings, like, I don't get taxed on that income, so I want to max it out and that it loses the larger picture, which is you're investing to make that money. Not so you save on your income taxes that year.
Sara Yeah, I mean, I think it of like again, like eventually, like all of these things will start working with each other as your income goes up and your net worth goes up and the value of your accounts goes up. Like, there is just time down the road to worry about taxes. But if you do not have a six-figure income and or high six figures in assets already like your main job is to save the money, put it in the account and invest it. OK, that's it. Those three things. Open an account, put money in the account, invest the money and then just leave it there and loop people in on the tax efficiency side when when you start having taxes that need to be managed. If you do, if you don't have any wealth, you do not have taxes to be managed.
Caitlin So don't frontload the tax part. Don't worry about getting in the market, starting an investment and not just the investment money that you're actually putting in, but the habit. The habit like because it's not a one off thing. I mean, it was for me forever. But like now, in theory, it's a habit. And so you're doing it all the time or on a regular schedule. And so it's getting the habit started now, like starting to floss every night today and not waiting until your dentist says there's a crisis.
Sara Yeah, because we talked about this and one of the other episodes, right? The idea that as you, you're going through this journey, going down this path, you start becoming aware of other financial things, right? Like term start sticking. And so like once you start flexing these muscles and building these habits, you'll be able to come back around next year or the year after or whenever and say, Oh, OK, instead of putting money in that brokerage account, which I just started because I had to start somewhere. Now I'm going to open a Roth IRA because I understand the tax benefits that I could get in the future by putting money in there today, letting it grow and investing it really well for the next 30 or 40 years. And then all of that money in 30 or 40 years is going to come out tax free, right? So eventually, if that doesn't make sense to you, right, this very second. Yeah, that doesn't mean you shouldn't start, right? You can you can deal with that later.
Caitlin Yeah, yeah. I like that. The starting first is the number one, and it's one of those. It feels like there are things that in order to start, you need to know everything about it. And with investing, it's actually the opposite. You start and then you learn and you actually have like skin in the game. So you're you're excited to learn about it. I know, but I feel like a lot of people in the past year have started. But in this really specific way, which is through Robinhood and like aunts, are giving their nieces $100 to invest in Robinhood. Is that the same thing as what we're saying today, like by opening a brokerage account?
Sara I mean, I'm so torn on this, right? Like, I feel like part of me really loves the democratization of investing, which I think Robinhood has really done. They've made it super easy to open an account on your phone, put money in there and then start investing if that's what you want to call it, right? But then on the other side, where I think it's dangerous for a lot of people is the gamification of this process.
Caitlin They set it up like a video game, right?
Sara Right. You get like, know, you get prompts and you get what? Like the confetti shooting all over your screen when you buy something right, like you didn't, you just bought something you didn't. It didn't. You don't. I don't know if you get the confetti if you make a lot of money, do you get the confetti? If you lose a lot of money like that part? But if you buy something, you get this feedback right away and the confetti shooting all over the place. And I think it also incentivizes people to buy stocks or ETFs or funds that they don't know anything about. It's really easy to be like, Oh hey, Caitlin, what do you have in your Robinhood account? Oh, some sort of random assortment of, you know, companies that you don't know anything about and you kind of compare lists. And I think that that part is not really what you and I are talking about here because there are there are ways that traders make money in the short term, but it's really specialized skill that most of us do not have. And I think there are lots and lots of people out there who think because they bought the dip in March of 2020 and experienced this rally that we've had since then, that they are skilled investors and skilled traders who should be jumping in and out of stocks. And I think that it's not that easy and that those people are going to feel a little bit lost when they discover that it's not that easy to read a Reddit thread and just jump in when everybody else is jumping in. So again, like I think there are pros and cons, but that Robinhood trading piece that has really become really popular is not what we're talking about here. We're talking about something that you invest in for the long run. I know it sounds so boring, right? It it is boring. That's kind of the point. So I would say, like if you start with one of these target date funds or some sort of diversified mutual fund or exchange traded fund and you know, for fun, have a little Robinhood thing on the side.
Caitlin I was just going to say that can be your, you know, it's like your fun money. I know you use it for that.
Sara I know. I think it's, you know, it's good for some people to have some fun money. I think of, like all of my dollars as like working dollars. Yeah. None of them are for fun. They're all only for, you know, growth and like hard core investing. So like that. That's my own personal.
Caitlin I get that. But I can also imagine, like a mom whose teenage son who has like been really animated by, you know, the 100 bucks that he got on Robinhood, that he turned into 500. I get that it warps his view of how investing really works and how building a financial future really works. So there has to be that foundation to it, too. So the ideal world is you have the real investing work going on, but that maybe there's other things you learn about and you think of that money that your kid is using to, well, kid, can kids be in it?
Sara Yeah, I mean, they can. I think, you know, especially if their parents open accounts for them. Like, I think there are kids with accounts, but even like college kids, right, who are older than 18 and have accounts, I would say with Robinhood, there are pros and cons if you are trading stocks on an app or something like Robinhood or even trading stocks in one of these brokerage accounts over here that we talked about, be super, super careful about confusing luck with skill.
Caitlin Yeah, I I think that so especially in the past year, like we're living in unprecedented times and so you nobody can gauge, even the most skilled investors, can't gauge how clever they are right now.
Sara Right. I'm going to put that like in the short term trading category. You know, there was a woman on the Austin Women's Investing Group Facebook page where I think I was like quibbling about this difference between investing and trading. And one of the comments was, Well, what's the difference if you're making money? You know, which I. Can see her point. Right? That, oh, if if you're making money, then why does it matter which way you made money, but also just because this is such a new phenomenon really like since March of 2020 is when all of these things started happening and the GameStop phenomenon really came on in February of 2021. This is all very new. There are lots of new traders out there again who I think are confusing luck with skill. And so just I just invite people to be careful. You don't have to be so careful that you're not out there taking risks in the world. But.
Caitlin Right.
Sara But keep it in perspective.
Another thing I like about what you're saying, too, is that we're also telling people like people like me that get so bogged down in decision making. Robinhood is just another place where I'd feel like, Oh my God, I have to pick the right stocks. I have to do the right thing. So I actually might not get invested at all because I'd be so worried about making the right choices. And if I lost right from the beginning, I'd just be like, Oh, investing is too scary. And so I think it speaks directly to our idea that like, you don't have to pick individual stocks, you are not getting a master's degree to be able to qualify to invest. The most important thing is to invest in something very boring, and that's for the long term. And that these endless choices that Robinhood might present with you with like a quick buck also just put the pressure on you to always be learning and keeping up with what stocks that you would buy into and that you might be able to do for two months, but not for the long haul. Like eventually your job, your family, your something else is going to take your priority and your attention. So you need to pick investments that will do that work even when you're not paying attention.
Sara That is an excellent point. I love that because I think what we're talking about here is setting up a system that works in the background without you needing to do anything else. You just need to open an account, start putting money in the account and have that money invested in something very simple, like a target date fund. And then just go about your day doing other non investing related things like go see a movie, right?
Caitlin Actual fun.
Sara Like, Yeah, go to Barton Springs, whatever, right? You don't need to have the app on your phone, dinging you when price targets are hit and all of the stocks on your watchlist, right? Buy, sell, buy, sell. It's like this is a system that works in the background. It's not a second job. It's just like a wealth building machine that is like quietly working in the background of your life.
Caitlin Another pushback I have against it is that it sets up certain people as the experts. So I've never been on Reddit and but I imagine a bunch of men with opinions that may or may not be earned in life or professional experience, and that it's like a competition to be the smartest person in the room. And those are the people that win at investing. And I think what we're really trying to debunk is that that's no one can predict this stuff. So you can still benefit from the market by picking one of these index funds, the target retirement funds, without having to feel like the smartest smarty pants in the whole world. And in fact, like those people, you don't hear about their huge losses. Yeah, you hear about their big, amazing windfall, right?
Sara You never hear about people's losses. And I feel like I'm a little bit lucky in this regard because I get to see people's losses on their brokerage account statements. When they come in to see me, I'll be like, What's this whole thing that's marked at zero dollars, right? And it's always like, Oh, that's a stock that my coworker told me about five years ago, and I decided to just put some money into it. And then it started going down and I held on thinking it would come back. And now it's marked at zero. Like that is how you you lose all of your money, right? Like it went from whatever you bought it for went all the way down to zero. That doesn't happen all the time, but I do get to see that on people. Statements in the story is always the same. The story is never, I really researched this company and thought it had really good prospects, and I just, you made a bad call. It's always like this guy I went golfing with told me about this company. And so I just decided to put some money
Caitlin into the Reddit hole down and read it.
Sara Yeah.
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Caitlin OK, Sara, what is with all this information, what's one thing a woman on the verge can do to really kick start her financial future, given all of this today?
Sara Yes, after all this, the one thing that you can do if you are at the beginning and are really starting is you can call one of these companies and talk to them. Explain your situation.
Caitlin Will you list the companies again?
Sara Yes, the ones I have just top of mind and this isn't an exhaustive list. So don't, you know, send angry emails. Vanguard, Fidelity, Charles Schwab, TD Ameritrade, something like Betterment or Wealthfront. ETRADE, there are a handful of other ones, but those are the main ones out there. Call them, call their customer service line and say, This is my financial situation. I make this much money. I have this much in assets. This is how much I think I can put into these accounts every year and get the customer service person's recommendation on which account you should open. And then is this a second thing. This isn't one thing. This is this the second part of this. Open the account.
Caitlin And if you work for a company, you get a W-2, call HR. The equivalent would be for those people call H.R., what's the retirement account deal? And just like, get the information.
Sara And then sign up for it.
Caitlin Oh, yeah, right. And then sit and think about it for a year like me and then just decide it's all too much.
Yeah. So this is it should be one thing. It's like one and a half things. It's like, call them and then open the account that they recommend to you.
Caitlin Perfect. OK, Sara, thank you so much.
Sara This is so fun. Bye 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 website womenontheverge.com
Caitlin Hey, so many thank you's 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 our music is by Bad Bad Hats and Devmo.
Caitlin This episode was edited by Kelly West and Jes Rowe.
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.
Caitlin Learn more at thehotline.org or call one 800 799 safe.
Caitlin So Sara, because you're a financial professional, we 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.
Music outro by Devmo
Devmo I know the first thing you notice is that I'm covered in gold, the flick of the wrist it could turn a hot bitch cold, to get what you want in life girl you gotta be bold. Now Imma die rich, and I know...