2:00

to one that we loved seeing,

2:02

work-life balance taking center stage with more

2:05

emphasis put on working the hours you're

2:07

paid to work and doing the job

2:09

you're paid to do, not too much

2:11

more and not too much less. The

2:14

hustle culture mentality that made so many

2:16

of us feel like we needed to

2:18

work 10 or 12-hour days seems to

2:20

be fading a bit, at least for

2:22

now. And with it comes a wave

2:25

of employees being a little more thoughtful

2:27

about the time and the energy they

2:29

spend working so they don't end

2:31

up burning out. It's so

2:33

important, especially for women since we

2:36

know we've got more of the

2:38

burden of things at home, child

2:40

care, caring for our older parents

2:43

and yes, sadly, housework. And

2:45

then there is a trend that made me want

2:47

to pull my hair out. Girl

2:50

Math, which we talked about on

2:52

an earlier show with Math Whiz

2:55

Danica McKellar. Business Insider recently wrote

2:57

an article that called out girl

2:59

math for holding women back from

3:01

growing wealth. And I got to

3:04

say, I think they have a

3:06

point. When we dumb down these

3:08

topics, it becomes a self-fulfilling prophecy.

3:11

As the Insider article said, stereotyping

3:14

women as having poor math

3:17

skills has a direct correlation

3:19

with an unwillingness to engage

3:21

with finances. A 2021

3:24

study in the Journal of

3:26

Economic Behavior and Organization suggests

3:28

that the stereotype that women

3:30

are less financially literate increases

3:33

their anxiety around money.

3:36

So let's just put that

3:38

stereotype to rest. Finally, in

3:41

the fashion world, sustainable fashion and shopping

3:43

at thrift stores, they just got

3:45

huge. They went bananas

3:47

this year. We are starting

3:49

to see evidence that Gen

3:51

Z shoppers are over fast

3:53

fashion and way over sketchy

3:55

labor practices. Instead, they

3:57

want curated thrift store finds. is

6:00

what you nodded to, which is this

6:02

idea of the girl everything. So

6:05

yes, this was the year of

6:07

girl mass, but it was also

6:09

the year of girl dinner,

6:11

which if you're not familiar

6:13

is when apparently you like cut up

6:15

a bunch of nuts and berries and

6:18

put it on a plate and call

6:20

it dinner or tomato girl summer, which

6:22

was when women were wearing gingham dresses

6:24

and carrying market bags filled with escarole,

6:27

which is lovely, but does it have

6:29

to be called tomato girl summer? It

6:32

just felt very infantilizing this

6:34

fall. We're actually going into something

6:36

that people have deemed gingerbread girl

6:38

fall. So I'm done with

6:40

all the girl things for the new year.

6:43

Amen to women, right? Which let's,

6:45

let's raise up the woman in

6:48

2024. And yeah,

6:50

I got to acknowledge, I mean, girl dinner is

6:52

not something that I could ever get behind, although

6:54

I am guilty of every

6:56

once in a while calling a pocket

6:58

of Pop-Tarts dinner or a bowl of

7:00

cereal dinner. But I prefer to just

7:02

think of that as breakfast for dinner.

7:05

And to me, it's, it's a luxury.

7:07

Pop-Tarts are the unsung

7:10

heroes of many a meal. All

7:12

right, let's dig into the trends that are

7:14

coming our way for 2024. We're

7:17

a money show, but we spend money

7:20

on all of these trends. You know,

7:22

if you buy into these trends, these

7:24

become pocketbook items. They become wallet items.

7:27

And that's why we're giving them some

7:29

airspace here. And let's start, Jillian, with

7:31

fitness trends. I know ever

7:34

since the pandemic, high

7:36

intensity, not to mention

7:39

boutique cardio classes faded

7:41

a little bit and

7:44

the thoughtful, slower at

7:46

home movement came on

7:48

really strong. But an

7:52

F-45 just opened around the corner from

7:54

where I live. I seem

7:56

to see a lot of these boutiques popping back

7:58

up. Where do you see? fitness

8:00

falling in 2024? Yeah

8:03

I definitely think you're right that

8:05

there's this move away from the

8:07

high pressure, high intensity workout. One

8:10

of the biggest trends we're seeing

8:12

started Where Else on TikTok. It's

8:14

called Cozy Cardio and

8:16

like you mentioned it's the idea that working

8:19

out doesn't have to be so

8:21

high intensity. It doesn't have to be

8:23

Orange Theory or CrossFit. It can be

8:26

as simple as lighting some candles and

8:28

doing your favorite yoga video in your

8:30

living room or walking on your walking

8:33

pad and watching a movie that kind of

8:35

thing. So obviously this isn't

8:37

as rigorous and doesn't have the

8:39

same calorie burning or cardiovascular benefits

8:42

of a more intense workout but

8:44

the general idea is that something

8:47

is better than nothing right and

8:49

this kind of casual approach is more inclusive

8:51

to people who might have felt left out

8:53

of exercise in the past or might have

8:55

felt they didn't have time to do it

8:58

and I do think this mindset

9:00

is going to be really pervasive.

9:02

There's been a handful of recent

9:04

studies that have shown that even

9:06

very modest exercise think running a

9:09

single mile a few times a week

9:11

or walking even just 4,000 steps per

9:13

day have major health benefits in terms

9:16

of improving longevity and reducing your risk

9:18

of heart disease and a

9:20

lot of these benefits you really see on

9:22

the front end like doing

9:24

a little bit of exercise versus

9:27

nothing vastly improves your your longevity

9:30

going from running two

9:32

miles a week to running 15 miles a

9:34

week you don't see that kind of jump

9:37

so it's really the doing something mindset and

9:40

I think this sort of speaks to

9:42

a greater trend in the new year

9:44

which is giving yourself leeway. There's something

9:46

in between constantly and

9:48

I'm putting quote marks here crushing

9:50

it and just being

9:52

a total sloth. I

10:01

can run a 10 minute mile, I

10:04

can go a really, really long time.

10:06

I can't go super fast, but

10:08

I can just sort of keep going."

10:11

And he found that when he

10:14

started to put multiple miles together,

10:16

he got injured. And so

10:18

he's on this kick where he's walking a

10:21

minute and then running two, and then

10:23

walking a minute and running two. I

10:25

guess it's a thing. They call it

10:27

interval running. I did

10:29

his little program with him this

10:31

morning, and I gotta say, I kind

10:33

of liked it, right? I mean, it

10:36

was nice to take those little breaks

10:38

and slow it down a little bit.

10:40

And I didn't feel as if I

10:43

was under-exercised when I finished. I felt

10:45

like I had had a nice conversation,

10:48

I got my miles in,

10:50

and it was a new way to

10:52

approach it. And I like that he

10:55

was easier on himself and figured out

10:57

a way to make running work for

10:59

him when just

11:01

going, going, going simply

11:03

did not. We pulled

11:06

a recent survey from My Protein

11:08

that found that the average American

11:10

spends $155 a month on fitness. Are

11:15

you noticing people spending more on

11:17

gyms or more on at-home setups?

11:19

Where is the Peloton mindset these

11:21

days? I almost think there

11:23

are two camps of people. There's

11:26

people who came out of the pandemic

11:28

thinking fitness is so

11:31

important to me and having the flexibility

11:33

to do it wherever, whenever,

11:35

on my own time is

11:37

really important. After learning

11:39

that we can do so much from

11:41

home, I think for a lot of

11:43

people, there's this inability to see going

11:45

back to commuting 20 minutes to a

11:47

gym in each direction. So we are

11:49

seeing a lot of sales of at-home

11:51

fitness equipment soaring. I was just talking

11:53

to our fitness editor about this and

11:55

she said there's all these crazy new

11:57

devices. Peloton just released a new device.

12:00

rowing machine that has the same videos

12:02

that you know from the bikes. There's

12:05

a company called Frame that just released

12:07

a new reformer machine for Pilates which

12:09

again is digitally connected so you can

12:11

work with instructors and feel like you're

12:14

in a Pilates studio but from home.

12:16

So I think there's definitely people who

12:18

are investing money in at-home

12:21

setups. On the other hand I

12:23

think there are people and I

12:25

definitely fall into this camp who

12:27

have drastically cut back their spending

12:29

on fitness. My fitness routine

12:31

is strictly running and the $30 yoga

12:34

mat that I own and I alternate between

12:36

floor workouts and running and I

12:38

think that again after the pandemic a lot of people

12:40

realized that they could bring the gym

12:43

into their own home at a

12:45

lower price point. And on their

12:47

own schedule. Exactly. I mean that's the thing

12:49

about running that has always worked for me.

12:51

I can do it wherever I am. I

12:54

don't have to wait for a class. I

12:57

don't have to wait for another person although I

12:59

do like running with another person but

13:01

it always as long as you have

13:03

the drive to make it fit into your

13:05

schedule. The same is true of walking or

13:07

biking or any of these things then you

13:09

can make it happen and making it happen

13:11

of course I think is the most important

13:13

thing. Let's talk about fashion. I

13:16

mean there are people maybe older

13:18

people like me who've been

13:21

a little horrified to see

13:23

low-rise jeans come back

13:25

into fashion and delighted to

13:27

see uncomfortable skinny jeans make

13:29

their way out. Is the

13:31

90s resurgence here to stay

13:34

and do you think people are really

13:36

saving a decent amount by buying clothes

13:38

at thrift stores? Well first of all

13:40

I'm right there with you with low-rise

13:42

jeans. May they never ever come back

13:44

again from our lips to God's ears.

13:47

In terms of the 90s and

13:50

in terms of people saving either

13:53

on fewer things or on repurposed

13:55

things I do think that both of

13:57

those are real trends. I don't know that we

13:59

can officially sell celebrate the end of fast fashion

14:01

or clothing hauls, but I do think that 2024

14:03

fashion will be

14:05

all about fewer, better things.

14:09

The 90s look that we're looking to

14:11

at Pure Wow is less of a

14:13

grungy or flannel shirt kind of

14:16

90s and more of a subtler

14:18

90s vibe, less Winona Ryder, more

14:20

season one Rachel Green from Friends.

14:23

We're calling it 90s minimalism and

14:25

it's sort of interesting to see it

14:28

on the heels of quiet luxury, which

14:30

you'll remember was the fashion trend of

14:33

this past year, very spurred by succession

14:35

and that kind of

14:37

neutral, extremely expensive, high quality

14:40

minimalist look. 90s

14:42

minimalism has some similarities in

14:45

that it's all about high end capsule

14:47

collections, but the look is a little

14:49

more casual. Think jersey maxi

14:52

skirts or turtleneck sweaters, medium wash

14:54

straight leg jeans, that kind of

14:56

thing. We've seen

14:58

this look take hold at the runway for a

15:00

while now, but we're also just sort

15:03

of seeing it pop back into the

15:05

zeitgeist period. I'm not sure

15:07

if you saw, there was a fabulous

15:09

article recently in the Times by Vanessa

15:11

Friedman about Carolyn Bessette Kennedy. I saw

15:13

it. Yeah, wasn't it great? It was

15:15

fantastic. She called Kennedy a ghost

15:17

influencer, which I loved that term. This

15:21

kind of 90s understated style

15:23

was at the core. There

15:25

was a lot that was interesting about the article, but one thing

15:28

I really glommed on to was

15:30

the idea that Kennedy had only about 40

15:32

pieces in her closet. You think of her

15:35

as so chic, but she was rewearing the

15:37

same things again and again, and she really

15:39

used those things. There's this iconic

15:41

photo of her in a subway

15:44

station, which first of all is great. I love

15:46

the idea of Carolyn Kennedy taking the subway, but

15:48

she's got her Birkin bag with her and she's

15:50

got her Birkin bag sitting on the floor of

15:53

the subway station. I

15:55

think that not that I'm telling

15:57

anybody to go out and buy a Birkin and not that if and

16:00

maybe don't put it on the subway floor, but the

16:02

idea that we're going to be having fewer things,

16:05

higher quality things, and we're going to use them.

16:07

We're going to wear them again and again, and

16:09

we're going to – we're

16:11

not going to be so precious with our

16:13

clothing is something that I do expect to

16:15

take hold in the new

16:17

year. So, yes, this absolutely goes in

16:19

tune with vintage shopping and with a

16:21

less is more approach. I

16:24

read that article too. I loved the pictures.

16:26

I mean, for those of you who are

16:28

a little younger and

16:30

haven't seen the images

16:33

of Carolyn Bissette Kennedy

16:35

and what a loss at such a young

16:38

age, both her and her

16:40

husband and her sister, she's

16:42

timeless. There are pictures of her

16:45

in a camel pencil

16:47

skirt that looks very

16:49

much like a pencil skirt that I've owned

16:51

for 10 years because it is

16:54

one of those things that you wear again

16:56

and again and again. The other

16:59

thing, and I don't know if this is

17:01

actually a trend, Jillian, if people are looking

17:03

at me today, you see I'm wearing a

17:05

denim blazer, which is one of the new

17:07

items that I bought for this season. I'm

17:09

wearing it like all the time,

17:12

all the time, and other denim

17:14

pieces too, denim dresses, denim beyond

17:16

blue jeans. Are you seeing a

17:18

lot of that? Yeah, I mean,

17:21

I think that, listen, denim is

17:23

timeless. It's never going to go

17:25

out of style, but I think

17:27

it's absolutely very of

17:29

the moment right now. Mixing denim

17:31

is of the moment right now. What you're doing,

17:33

which is rewearing the same piece again and again,

17:35

we had years where I

17:37

think because of social media, a lot

17:40

of women felt ashamed to be seen

17:42

in the same thing over and over,

17:44

hence the rise in rental or subscription

17:46

services for fashion. I really

17:48

think and hope we're coming back to a place where

17:50

when you get a fantastic denim blazer, you can wear

17:52

it three times a week and feel confident about that.

17:55

I will feel confident about it, and now more

17:58

confident about it since you told me that It's

18:00

okay, because that's exactly what I'm doing. You

18:03

mentioned clothing hauls. Are they

18:05

really on the way out? Please say yes. I

18:08

wanna say yes. I have to

18:10

think so. They were so overdone in the

18:12

past year or so. So I'm saying yes.

18:15

Okay, all right. And for those people who

18:17

don't know what they are? I mean, it's

18:19

the idea that people are going into stores

18:21

and just bringing back a ton of clothing

18:23

and trying it on for their audience. Yeah,

18:26

yeah. Let's be over. Let's be

18:28

over that. We are at the

18:30

tail end now of months spent

18:32

hosting family, cooking

18:35

for the holidays and buying lots

18:38

of gifts. Inflation has hit

18:40

our pocketbooks really, really hard,

18:44

which is why I love that I'm seeing

18:46

a trend of little luxuries.

18:49

I think that that is a great

18:51

way for people to treat themselves and

18:53

treat the people that they love without

18:55

blowing their budgets, taking a beauty advent

18:57

calendar and just splitting it up and

19:00

giving all the little pieces away. Is

19:02

that the sort of thing that you're

19:04

seeing as well? Yeah, I

19:06

mean, I think in the wake of

19:08

the pandemic and just all this inflation,

19:10

it makes sense that people wanna treat

19:12

themselves in small, not so giant splurgy

19:14

ways, generally under $100 ways. And

19:18

I think that maybe

19:20

in the past there's been some stigma around this.

19:22

I actually think that the last time I went

19:24

on your show, we talked about how you can

19:26

cut out these little splurges. This adds up over

19:29

time, which of course is still true, but

19:31

we're in a different economy now. We're

19:33

in a different world, not to take

19:36

a depressing turn, but I read a

19:38

study recently that a third of Gen

19:40

Z adults don't think they'll ever be

19:42

able to afford a home. So

19:46

for people who have some

19:48

disposable income but don't necessarily

19:50

see a world where they can

19:53

even save up for some of these,

19:55

quote, big life things, I think it

19:57

makes a lot of sense that indulging...

20:00

in small, very much in

20:02

their budget luxury

20:04

items feels special. The

20:06

idea that you can get a really

20:08

lovely candle and make your bathroom feel

20:11

luxury even if you can't afford an apartment

20:13

upgrade. The idea that you can get just

20:16

delicious caviar to have on hand for when

20:18

a friend comes over. Personally,

20:20

I have decided I always need to

20:22

have fancy olive oil that I'm proud

20:24

to display on my countertop. So I

20:27

think things like that have

20:29

been trending and will continue to trend in

20:31

the new year for sure. For my stepdaughter,

20:34

it's amazing coffee that she brews

20:36

at home. She bought an expensive

20:38

coffee maker and that's her little

20:40

luxury and she has it every

20:42

single day and it's really, it's

20:45

important to her. It helps her start her

20:47

day off on the right note. And

20:49

I support that. I think figuring out

20:52

what those luxuries are for you makes

20:54

complete and total sense. Jillian, we're going

20:56

to take a quick break. So stay

20:58

with us for just a couple of

21:00

seconds before we go to break though.

21:03

I hope that you've had a chance to

21:05

listen to our new podcast. It's called How

21:08

She Does It. We recently

21:10

had Suttinder Sinkasady on the

21:12

show chatting about why taking

21:14

lux in her career has

21:16

paid off in a big

21:18

way. For those

21:20

of you who don't know

21:22

her, she's the CEO of

21:24

Xero. She's a serial entrepreneur

21:26

and she recently sold her

21:28

third, yes, third startup, a

21:30

business called Boardlist, which matches

21:32

first time board ready executives

21:35

with companies looking for

21:37

diverse board talent. Check

21:39

it out. We'll be back in

21:42

a sec. Her money is proudly sponsored

21:44

by Edelman Financial Engines. You're

21:46

saving, you're investing and you're ready

21:49

to embrace a bright financial future.

21:52

When was the last time you took a look at

21:54

your budget? It may be

21:56

time for you to prioritize different saving

21:58

strategies and what they do. mean for

22:01

your overall financial future because knowing exactly

22:03

how your budget is allocated can make

22:05

all the difference when it comes to

22:07

your financial health and wellness. Learn

22:10

more at planese.com/HerMoney and

22:13

schedule your complimentary wealth

22:15

checkup today. And

22:21

we are back with Jillian

22:23

Quint, Editor-in-Chief at Pure Wow.

22:26

So we are, as I mentioned at

22:28

the top of the show and as

22:30

our listeners know, we are a money

22:33

show. What are

22:35

you seeing in the workplace

22:37

or regarding our personal finances

22:40

as trends are going, Jillian?

22:43

Well, we are definitely not an investing publication,

22:45

so I will leave it to you to

22:47

make the actual money suggestions. But

22:49

one trend we have been noticing picking

22:51

up steam is the idea of sustainable

22:54

investing. At the top of the show,

22:56

you mentioned sustainability in general as a

22:58

trend you're seeing and I really couldn't

23:00

agree more. In the

23:02

investing space, we're seeing that companies

23:05

that make a positive environmental and

23:07

social impact are really important to

23:09

investors. There was a recent

23:11

Gallup poll that said that 63% of

23:14

investors are looking to invest in companies that

23:16

align with their beliefs. And per

23:18

that study, the numbers were even

23:20

higher when you looked at women exclusively. So

23:23

we definitely are seeing companies

23:25

like Coca-Cola that are outlining

23:27

their sustainability efforts from

23:30

the get-go for Coca-Cola. It's a

23:32

commitment to 100% recyclable materials, regenerative

23:34

water use across their facilities, that

23:37

type of thing. And

23:39

as a result, investors are taking

23:41

note and putting their

23:43

money in these places accordingly. But

23:46

even outside of stock portfolios, we're

23:48

seeing sustainability as a huge priority

23:51

for our audience in terms of

23:53

where they're spending their money, whether

23:56

it's shopping for beauty products at Credo,

23:58

which is kind of the same thing.

24:00

sustainable Sephora, thanks to its comprehensive

24:02

recycling program and high standards for

24:04

safe ingredients. Or maybe

24:07

they're choosing hand soap from

24:09

Blue Land, which offers refillable

24:11

plastic-free cleaning products. Basically, our

24:14

readers are looking to put their money where

24:16

their mouth is, and we've had a lot

24:18

of reader response to articles we've

24:20

done about sustainable products and a lot of

24:22

requests to do more of them. Yeah,

24:25

we're seeing it too. One of

24:27

our programs is called Investing Fix.

24:29

It's an investing club for women.

24:32

Karen Finerman, who is my

24:35

partner in crime in this effort, she's

24:37

a CNBC panelist on fast money

24:40

and a professional investor. She and

24:42

I are teaching investing

24:44

to 300-ish women

24:46

on Zoom every other Monday

24:48

night. And we got a

24:50

lot of requests to bring

24:52

ESG, or sustainable investing, into

24:55

the portfolio. And so we

24:57

did a couple of weeks

24:59

of education on sustainable investing

25:01

and teed up some sustainable

25:03

investments. And the members voted

25:05

to add an

25:07

ESG that is in the

25:09

sustainable investing space to our

25:12

portfolio. For anybody who's listening,

25:14

if this sounds like something that you're interested

25:16

in, Investing Fix is

25:18

a program that you can join. And

25:21

you can check it out on

25:23

our website, hermoney.com, or you can

25:25

go to investingfix.com for more information.

25:27

And we spell Fix by the way with two

25:29

X's just to make it complicated. But

25:31

we have an awful lot of fun. You

25:34

mentioned sustainable beauty. We had a

25:36

great conversation, Jillian, earlier this year

25:39

with Elise Hugh about her new

25:41

book and about the really high

25:44

costs that women are paying to

25:46

maintain their looks, to

25:48

live up to ideal

25:50

standards of beauty. And we talked

25:52

about her hopes that we can

25:54

all start to feel more comfortable

25:57

in our skins. One thing

25:59

that I've noticed. It seems like

26:01

the beauty industry is becoming more accepting

26:03

of laws that people are wearing pimple

26:05

patches. They might be saved like stars,

26:08

but they're pimple patches in public. With

26:10

that know same is the sort of

26:12

thing and and continue to grow in

26:15

Twenty Twenty four. So I so want

26:17

to tell you that the beauty industry

26:19

is becoming more accepting of women's actual

26:22

body as I think we've made some

26:24

fried strides in terms of body positivity

26:26

in inclusivity. But on the other hand,

26:29

you of course, See the rise

26:31

of something like of them back

26:33

or the fact that beauty is

26:35

to system massive multi billion dollar

26:37

industry that's just not going away.

26:39

But I do think. That

26:42

a lot of the. Quote issues

26:44

that were historically tab do

26:46

are now being addressed. More.

26:48

Openly and in a way that

26:51

makes room for more voices. As

26:53

he said so, the idea for

26:55

example, that traditional sunscreens doesn't blend

26:57

into all skin tones. It seems

26:59

sort of appalling that it's Twenty

27:01

Twenty Three and we're just starting

27:03

to have this conversation. But brands

27:05

are actually developing formulas. The to

27:07

the or the fact that not

27:10

all people using beauty products even

27:12

identify as women's These are things

27:14

that the beauty industry is finally

27:16

starting to take note. As I'm

27:18

thinking specifically. Of one of the biggest

27:20

trends were seeing for the New Year

27:22

in the Beauty Space, which is this

27:25

newfound focus on men, A Pause and

27:27

the beauty needs of women in their

27:29

forties, fifties and beyond. It would be

27:31

hard not to credit a lot of

27:33

this to the celebrities behind it. I'm

27:36

sure everybody here is thinking of when

27:38

it's cultural. Right now, she's been very

27:40

vocal about her own men. A Pause

27:42

Hosted a Menopause Summit in California. We

27:44

also have Naomi Watts who has been.

27:47

a big proselytizer for the

27:49

subject see launched a line

27:51

of products called stripe which

27:53

is all products devoted to

27:55

issues that come up at

27:57

this time of life so

27:59

specifically targeting dryness, vaginal gels,

28:01

that kind of thing. But

28:04

there's also just been a spate of

28:06

companies in general in the beauty space

28:09

and beyond targeting this demographic in

28:11

a very overt way. They're not hiding it. There's

28:13

a hair care line called Better

28:15

Not Younger that addresses issues

28:18

like brassiness and thinning hair

28:20

that tend to happen in aging

28:22

hair or there's this fabulous glasses

28:25

company called Caddis that

28:27

is, I'm sure you've seen them,

28:29

they're really really cool glasses that

28:31

are reading glasses. The models actually

28:33

look old enough to be wearing

28:35

reading glasses and they are very

28:37

clearly for Gen X boomer demographic.

28:40

I'd love to see all of this.

28:42

I had my own saga with hot

28:44

flashes as I was going through menopause

28:46

and at the time there was not

28:48

a ton of conversation about it and

28:51

it's so nice to see people

28:53

being open and willing to

28:55

discuss it as we are

28:57

so many other things these

28:59

days. So this is one of the trends that I

29:01

really really applaud. Before

29:04

I let you go Jillian, what else

29:06

are you looking forward to covering in

29:08

2024? What's

29:10

coming up next that we should keep our

29:13

eyes out for at PureWow? Well

29:15

the fun thing is you never know what's gonna pop up

29:17

especially with the the quickness

29:20

of the internet and social media. A

29:22

trend can start on a

29:24

Saturday and by Tuesday it's huge so I'm

29:26

excited for everything that's gonna blow up. Seeing

29:28

these trends deciding if they're worth adhering to

29:31

or if we're just gonna like let them

29:33

pass us by. One trend

29:35

that our travel editor just shared with

29:37

me that I think is so cool

29:39

that I keep talking about is this

29:42

trend of astro tourism which she swears

29:44

is gonna be huge this year. So

29:46

astro tourism is traveling for the sole

29:48

purpose of seeing unobstructed

29:51

unpolluted skies. So

29:53

we're seeing all these hotels

29:55

now that are offering stargazing

29:57

packages or experiences And

29:59

both domestic. That an international places

30:01

like Colorado or New Zealand where

30:03

they're on lands that are officially

30:05

recognized international dark Sky reserves which

30:08

I didn't know with the thanks

30:10

but is apparently a designation you

30:12

can apply for and we're also

30:14

seeing Tourism Board. Campaign

30:16

for new legislation that

30:19

prohibits. Certain. Light pollution

30:21

that kind of thing in order

30:23

to bring in more tourists for

30:25

this express purpose. So I just

30:27

love this as as the cool

30:29

intersection of environmentalism and. Just kind

30:31

of this return to the experiential that we seen

30:33

posts coven. This is fantastic when

30:35

you set the word. I really thought

30:38

I was gonna have to get no

30:40

rocket. I'm so glad that I don't

30:42

but I'm gonna. I'm absolutely gonna check

30:44

this out. I have a friend we've

30:46

been talking about trying to get till

30:48

Alaska Leader in the summer and I

30:50

bet there is some amazing astern tourism

30:52

their cell. I'll look forward to that.

30:55

Gillian thank you so much for all

30:57

of this for being with us, for

30:59

talking about what we can expect and

31:01

in funny Twenty four Happy Early New

31:03

Year to you. Thank. You so

31:05

much it's been so fan happy to come

31:07

text chat trends anytime. Thank. You

31:09

and will be back with Julia and your

31:12

mail bag. This

31:14

episode is brought to you by

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all your holiday traditions. Kroger fresh

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for everyone! And

32:15

we are bad for mail

32:18

bag with my daughter Julia

32:20

Chatzky. So when we're looking

32:22

ahead it trends for twenty

32:24

twenty four. What trends have

32:26

you been noticing lately? Gillian

32:28

was talking about Strawberry Girl

32:31

and things I've never heard

32:33

of. I feel like kinda

32:35

fish was really on the up and up

32:37

this year. It'll be interesting to see. How

32:40

the seafood market sort of

32:43

further develop say think like

32:45

sustainability and seafood will be

32:47

interesting. That. Been talking about that

32:49

quite a bit at work. I also

32:51

think sense are going to have a moment.

32:53

We're seeing Brand do different things as

32:55

send some doc a Brand just came

32:57

out with like an espresso martini. Perfume.

33:00

Sorta thing. Like I just think sense

33:03

lot of hotels. Are coming out with more and

33:05

more of bears. Sense and Ascend Experience

33:07

Sell. Those are my sort of

33:09

trends and I'm talking that it

33:11

works. Oh, and those are

33:13

ones Gillian didn't even get into. I

33:15

like some good tin ces me to.

33:17

It's a lot fancier than Bumble Bee

33:19

in a camp, so we get into

33:21

our questions. Let's do it. Our.

33:24

First question comes to Aspen Lorene,

33:26

She writes hygiene. I'm reaching out

33:28

because I saw your newsletter on

33:31

the biggest personal finance issue were

33:33

ready to tackle. So here it

33:35

goes. Recently, I had a company

33:38

with which I had a long

33:40

term care policy automatically withdraw six

33:42

thousand dollars annual premium from my

33:45

bank account on the zeroing out

33:47

and too long term care policies.

33:49

The other premium is taken from

33:52

the benefits of the insurance policy.

33:54

I have with the company. Together.

33:56

i have long term care policies

33:58

with the total annual premium of

34:00

approximately $11,000. I'm 81 years old and I'm

34:02

in very good health. What

34:07

is a reasonable premium for me

34:09

to pay for long-term care insurance?

34:11

Thank you. Oh boy, Noreen,

34:13

this is a big ball of wax and

34:16

in part it's a big ball of wax

34:18

because there's a lot going on here, Noreen,

34:20

both with you and with the long-term care

34:22

market. So I'm going to answer your

34:26

questions as best I can with

34:28

the information that you gave me.

34:31

The first thing that made

34:33

my eyebrows go up is

34:35

that you said the long-term

34:37

care policy automatically withdrew

34:40

the premium from your bank

34:42

account almost zeroing it out.

34:44

Now they only have the ability

34:46

to do that if at some

34:49

point you gave them

34:51

permission to do that. If

34:53

this is something that you no longer

34:56

want them to do, I want

34:58

you to get on the phone to

35:00

that long-term care company and I

35:02

want you to tell them that instead

35:05

you want to receive a bill and

35:07

then you will pay that bill but

35:09

you no longer want them automatically debiting

35:12

your account. You can also reach out

35:14

to your bank and

35:16

you can ask your bank how

35:18

you prevent that automatic debiting from

35:20

happening because again you don't

35:22

want the large premium on this policy

35:25

to put you in a position

35:27

where you overdraw. When

35:30

you say you've got a total annual

35:32

premium of $11,000, my question is what

35:34

are you getting for that amount? What kind

35:37

of long-term

35:41

care insurance is this? Is

35:45

this a pure long-term care policy?

35:47

Is it a policy with

35:49

a return of premium rider of

35:51

any sort? Is it a hybrid

35:54

life insurance long-term care policy? And

35:56

what are you getting for

35:58

the money? that you're

36:00

paying. What's

36:02

happened recently in the long-term care

36:05

market is that, especially in

36:07

pure play long-term care policies,

36:10

there have been a lot

36:12

of premium increases. And

36:16

if you are feeling that you are

36:18

not going to be able to

36:20

continue to pay these premiums,

36:23

and your coverage will at some

36:25

point lapse, you should

36:27

be talking to the insurance policy

36:29

about if there are changes that

36:31

you can make in

36:33

the amount of coverage that you're receiving that

36:36

will bring the cost down.

36:40

I don't want you to do this alone.

36:44

I want to make sure

36:46

that you get some real

36:48

expert advice because as

36:50

you get older and the

36:52

likelihood of needing care grows,

36:56

having a good long-term care

36:58

policy is something that

37:00

may be really, really vital

37:03

to you. So

37:05

what I'd like to do is look

37:07

into this one a little bit further

37:09

for you. I'm going to

37:11

ask my producer, Haley, to reach back out to

37:13

you and to set up a phone call. I'd

37:15

like to look at what you've got, and

37:18

I'd like to put you in touch with

37:20

a long-term care expert who can help

37:22

us figure out if what

37:25

you're paying is worth what you're

37:27

getting, and then we can take

37:29

it from there and we can report back to

37:31

everyone. But this is not one

37:33

of those questions that I feel comfortable answering

37:35

right off the cuff. We love

37:37

an honest lady. Jules, this is

37:39

people's money. It's

37:42

her money. It's her livelihood. It's her care.

37:45

And sometimes you just need a little bit

37:47

more information. So let's put a pin in

37:49

that one and take another question. All

37:52

right. Our next question comes to us from

37:54

Alana. She writes, Aloha,

37:57

Jean. I watched you in my early

37:59

20s. 20s when I used to watch the

38:01

Today Show. Nowadays, I hardly

38:04

watch anything except for a comedy

38:06

sitcom here and there. I'm so

38:08

glad you have a podcast now and I

38:10

can simply listen to your advice, but I

38:12

need to get actions going on my next

38:14

steps to be financially comfortable. I'm

38:17

turning 40 next month, been a homemaker

38:19

for 10 years and homeschooling my four

38:21

children at home, ages 9 and under.

38:23

I don't have any concrete plans

38:26

for working out of my home, but I

38:28

do want to start work from home in

38:30

the next few years when my youngest is

38:32

a bit older. Currently, I have a

38:34

little over $18,000 in a Roth IRA retirement 2050 fund. It's gone

38:40

down about $2k since I last checked a few

38:42

months ago. How can I build this

38:44

so that I'm taking care of in my

38:46

retirement years? Where do I start

38:48

and continue? Shall I look into

38:51

investing in other funds? Can I open

38:53

a CD with a retirement account? Isn't

38:56

there a spousal contribution approach since

38:58

my husband is the one working? I heard

39:01

about I series bonds. I

39:03

need guidance. I greatly appreciate your

39:05

help. Much mahalo, Alana.

39:09

Thanks for the nice words, Alana,

39:11

and thank you so much for

39:13

listening. Look, I think that you

39:15

are on the right track. I

39:18

wouldn't worry too much about

39:20

the fact that the amount of

39:22

money that you've got in this

39:24

2050 fund, which

39:26

is a target date fund or a

39:29

life cycle fund that is invested

39:31

along with your age and your risk

39:33

tolerance, I wouldn't worry so much about the fact

39:35

that it's gone down a little bit since you

39:37

last looked at it. Markets go

39:40

up and markets go down. It's

39:43

time in the market that

39:45

matters, not time in the market that

39:47

matters. I don't want you to pull

39:49

that money out just because it's down

39:52

and try to invest it somewhere better.

39:54

This is very likely a good

39:56

place for it to be. What

39:58

you need to be doing is... adding

40:00

to it on a regular basis. And

40:03

the spousal

40:08

contribution approach that you

40:10

talked about. Every

40:12

person who has a working

40:14

spouse has the ability

40:17

to make a contribution

40:19

in their own name to

40:22

an IRA or

40:24

a Roth IRA. When we call

40:27

this a spousal IRA, you are

40:29

eligible to contribute

40:31

the same amount of money to a

40:33

spousal IRA that somebody in the workplace

40:36

could contribute to a regular or a

40:38

Roth IRA and that amount is $6,500

40:43

a year. So divide that 6,500 by

40:45

12 that equals $542 a month and put

40:47

yourself on a

40:55

plan where every single month you are

40:57

contributing $542 to that plan. Now is

41:03

that enough for retirement

41:05

is making a $6,500 contribution

41:08

going to be enough to carry you

41:10

along forever? It really depends

41:13

on your other assets. It

41:15

depends on what your husband's

41:17

got, your spouse has at work.

41:19

It depends on if there's a

41:21

pension in the family. It depends

41:23

on how much you

41:26

are able to pay down

41:28

when it comes to your home. But

41:30

it's a really, really good place to

41:32

start. And then when you start working

41:34

from home, I want you

41:36

to look into ways to make a

41:39

bigger contribution. If you are

41:41

working for a company that offers a retirement

41:43

plan, you're going to want to grab all

41:45

the matching dollars. You're going to want to

41:48

make a bigger contribution. You're going to want

41:50

to get yourself on a plan so that

41:53

when you and your husband finally do

41:55

decide that you're ready to retire, You

41:58

have set aside about. Ten times

42:00

your current income. For. Retirement:

42:03

When combined with social security

42:05

that amount of money, it's

42:07

generally as enough to still

42:10

ask about eighty percent of

42:12

your pre retirement income and

42:14

most. People find. And

42:16

that is definitely an ass. So those

42:18

are the two things that I would

42:20

focus on. Thank you for writing to

42:23

us. From Hawaii and.

42:25

Thank. You for listening to the cell And

42:27

thank you Julia. Yeah, thank you. Thank

42:30

for having may. Been. A funny

42:32

air. It has and if you

42:34

have any other money related questions Juliet

42:36

and I would love to hear from

42:38

you you can send them are way

42:40

by emailing mailbag. At Her money.com.

42:43

And now we're gonna take a quick but. It's

42:47

time to say goodbye to hold

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43:16

Are back with your money tip

43:18

of the week if you are

43:20

finding it more expensive than ever

43:23

to travel with your kids these

43:25

days during their school breaks, it

43:27

is not surprising. Given I'd travel

43:29

costs and inflation strain on household

43:31

budgets, it can be tempting to

43:33

pull your little one from the

43:35

classrooms. It's take advantage of off

43:37

peak deals. While educators say skipping

43:40

school to travel could put kids

43:42

at a disadvantage, some parents say

43:44

there are major upsides. Not only.

43:46

with off peak pricing being better

43:48

but with the type of learning

43:50

their children are doing many parents

43:52

find that giving their children the

43:54

chance to experience other cultures and

43:56

see the world is just as

43:58

important as what they learn in school.

44:00

When deciding whether or not you should pull your

44:03

kids out of school to travel, the first thing

44:05

you want to consider is their age.

44:07

It's a lot easier with

44:09

younger children who have fewer

44:11

academic extracurricular and social demands. And

44:14

make sure you're giving the school ample notice

44:16

and time to prepare things ahead of time

44:18

for the days your child is gone. For

44:21

more timely money tips like this one,

44:23

subscribe to the Her Money newsletter at

44:25

hermoney.com slash subscribe.

44:28

Thanks for joining me today on Her Money

44:30

and thank you so much to Jillian Queen

44:32

to peer wow for chatting about the trends

44:35

she's most excited to

44:37

see in 2024. If you like what

44:39

you hear, please subscribe to our show at Apple

44:41

Podcast. Leave us a review. We love hearing

44:43

what you think. We'd like to thank

44:46

our sponsor, Edelman Financial Engines. Her Money

44:48

is produced by Haley Pascoliti. This

44:50

show is mixed and mastered by CDM

44:52

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45:01

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45:04

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45:06

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45:13

You can find us and other

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45:17

for joining us and we'll talk soon.