Oh My Dollar!

  Sometimes the most frustrating part of money is that building wealth is a marathon, not a sprint. We talk about the “hard middle” of working towards a big goal- where you’re making progress but it seems slow, and the end payoff seems far off. So we ask some people around the XRAY FM studio about how they worked on their goals.

Many people think that if they’ve achieved a great credit score, they’re done, they have it all figured out and they’re financially well. That’s simply not true – a credit score is not a measure of financial well being. Lillian talks about the myths around credit scores – and what it really does. We also talk a little about why credit scores exist (initially, to make banking system less racist and sexist.)

Special guest John Vergin joins us for an episode of what a 40-year career of hustle as a working performing artist looks like without getting famous. John dropped out of college and never held a so-called “real job” but balancing his creative work as a singer, composer, pianist, teacher, theatre music director, he’s always had a roof over his head (and is just 1.5 months from paying off his mortgage) and a stylish life. He talks about avoiding debt, being happy with what you have, and the value of building personal networks.

Everything you need to know about saving for retirement in your 20’s and 30’s   Lillian answers all the questions you’ve been too scared or too lazy to ask about investing for retirement. She covers 401ks & IRAs, explains how you choose what to invest, and what you should avoid – including discussing socially responsible investing. Within 30 minutes, you’ll be ready to click the “buy” button on your portfolio.   Things mentioned in this show: Vanguard.com (low-expenses IRAs & funds) The Stock Series by J L Collins (a more in-depth, but entertaining, series of blog posts covering index investing theory) Oh My Dollar!’s next Money Bootcamp at Broadspace    

You know those nagging little financial tasks? The ones you procrastinate on? We talk about conquering those tasks that cost you money (including Lillian’s current procrastination on her money) – and hear a bunch of listener stories of times they procrastinated and it hurt them in the wallet.

A top money concern for many under the new administration is health insurance. Our special guest Ben Mcewan, helps answer your questions about health insurance in the Age of Trump: will the marketplace plans go away? Should you get off medicaid/OHP onto a marketplace plan? Will the subsidies stick around? Will health insurance get cheaper under Trump for small businesses? [Producer Will Romey, Music by Aaron Parecki]

Lillian talks about some New Year’s resolutions to set for your money, and how to make them easier PLUS she discusses how to choose a rewards credit card. [Producer Will Romey, Music Aaron Parecki) Aired on KRXY Portland

Today we talk about those things that might be emergencies – but are expected emergencies – and how to prepare for them. And how you can avoid using your emergency fund (if you have one yet!) on things you can reasonably expect to happen.

In our first episode of Oh My Dollar! Lillian talks about living off last month’s income and answers questions from from Lucy (Portland, OR) a comic artist who asks how to plan to budget on variable income and Emily (Portland, OR) a small business owner who wants to know if she should pay off her credit cards, student loans, or taxes first. Have a question you want answered? Shoot an email to question@ohmydollar.com.