Financial Fitness for Big Moves: Achieving Your Goals Without Sacrificing Security (Video Episode)

A certified financial planner offers a listener actionable advice to help him save for a big move while maintaining financial stability. NerdWallet Advisors is no longer accepting new clients, and will be closing its financial planning business as of December 20th, 2024. How much should you save before you move to a new city? How can you reach your savings goals while also spending on your lifestyle? Recording in-person from a studio in Chicago, host Sean Pyles sits down with Magda Doemeny, a certified financial planner with NerdWallet Advisors, to host an actual financial planning session with a listener. Jim, a 36-year-old nonprofit worker, joins them to share his aspirations of moving to a higher cost-of-living area without a job lined up. Magda advises him on how much money in living expenses he should consider saving before making the move, the practicality of high-yield savings accounts, and the benefits and limitations of using a Roth IRA for a down payment, among other practical strategies for reaching his goals while maintaining financial stability. NerdWallet Advisory LLC, dba NerdWallet Advisors, is an SEC-registered investment advisor and wholly owned subsidiary of NerdWallet Inc. The advice provided in this episode of Smart Money was for illustrative purposes only and not intended as financial or investment advice specific to your personal facts or circumstances. In their conversation, you’ll hear about: smart financial planning, major life transitions, certified financial planners, financial stability, dream relocation, higher cost of living, Roth IRA for a down payment, high-yield savings accounts, budgeting tips, saving for relocation, emergency savings, long-term financial health, actionable financial strategies, transportation costs, retirement savings adjustments, financial goals, balancing life changes, moving to San Diego, cost of living, clear financial goals, financial risks, increasing income, trimming expenses, side gigs, prioritizing savings goals, healthcare coverage costs, affordable financial planning, financial plan, setting financial goals, car purchase planning, and moving expenses. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

Om Podcasten

NerdWallet’s trusted finance journalists answer real-world money questions to help you make smarter financial decisions with confidence. Each episode dives deep into topics like budgeting, saving, investing, home buying, and credit cards, cutting through misinformation to bring you clear, actionable advice backed by thorough research. By the end of every episode, you’ll have the latest financial insights and the tools you’ll need to manage your money wisely, build wealth, and plan for life’s milestones. And if you have questions for the Nerds, you can leave them a voicemail at 901-730-6373. Join hosts Sean Pyles, CFP®, Elizabeth Ayoola, and other expert Nerds as they answer your biggest money questions and share strategies to help you build wealth and reach your financial goals, including: – Investing: Advanced investment strategies, integrating ETFs and mutual funds into a diversified portfolio, tax-efficient retirement planning, understanding Roth IRA conversions, and navigating robo-advisors. – Credit Cards: Top credit cards for travel rewards and luxury perks, balance transfer strategies, maximizing credit card points, and optimizing credit card usage to boost your credit score. – Personal Finance: Advanced budgeting tips, building generational wealth, creating effective savings plans, managing high-income expenses, and developing a strong money growth mindset. – Home: Smart strategies for homebuying in competitive markets, leveraging home equity loans and HELOCs, refinancing for long-term savings, first-time homebuying tips, and budgeting for major home improvements. If you’re searching for the best personal finance podcasts or want practical knowledge to make smarter money decisions, then follow NerdWallet’s Smart Money Podcast. You’ll love NerdWallet’s Smart Money Podcast if you like podcasts like: Planet Money, The Personal Finance Podcast, DIY Money, Afford Anything, How to Money, The Ramsey Show, Money Rehab with Nicole Lapin, NPR’s Life Kit: Money, Popcorn Finance, Money Girl,Money Guy Show, Everyone’s Talkin’ Money, So Money with Farnoosh Tarabi, The Money with Katie Show, All the Hacks with Chris Hutchins, The Stacking Benjamins Show, MoneyWatch with Jill Schlesinger, or Your Money, Your Wealth. NerdWallet Compare, Inc. NMLS ID# 1617539 NMLS Consumer Access: http://www.nmlsconsumeraccess.org/