What to do When Groceries Cost More and Retirement Feels Out of Reach

Learn why tariffs are driving up prices and how you can still save money. Plus, how to catch up on retirement savings if you started late. How will new tariffs impact your grocery bill and big-ticket purchases? Is early retirement an option if you’re behind on retirement savings? Hosts Sean Pyles and Elizabeth Ayoola discuss rising costs due to tariffs and strategies for catching up on retirement savings. They’re joined by NerdWallet senior news writer Anna Helhoski, who leads a conversation with personal finance writers Kim Palmer and Amanda Barroso about the latest trade developments and their effects on consumer prices. They begin with a discussion on tariffs, explaining which everyday items — like groceries, gas, and electronics — are likely to get more expensive, how these price hikes trickle down to domestic goods, and why panic-buying may not be the best response.  Then, Amy, a listener in Wisconsin, joins Sean and Elizabeth to discuss retirement planning after starting savings later in life. They explore realistic ways to build a retirement nest egg, including catch-up contributions, rethinking lifestyle costs, and alternative approaches to the FIRE movement — AKA financial independence, retire early.  Here’s how to find out how much you should save for retirement: https://www.nerdwallet.com/article/investing/how-much-to-save-for-retirement User NerdWallet’s retirement calculator to find out if you’re on track to save enough for retirement: https://www.nerdwallet.com/calculator/retirement-calculator  Learn about the FIRE movement (financial independence, retire early): https://www.nerdwallet.com/article/investing/financial-independence-retire-early  In their conversation, the Nerds discuss: tariffs 2025, grocery prices rising, grocery price inflation, how tariffs affect prices, consumer goods tariffs, grocery savings tips, meal planning apps, best grocery list apps, grocery price hikes, food inflation 2024, how to save on groceries, price increase on imported goods, China tariffs, Mexico tariffs, Canada tariffs, retirement savings strategies, how to catch up on retirement savings, Barista FIRE, early retirement strategies, how to invest for retirement, retirement savings at 50, compound interest retirement, financial planner retirement, Roth IRA vs 401k, employer 401k match, best investments for retirement, late starter retirement plan, retirement planning mistakes, financial independence, cost of living in retirement, how to retire abroad, and expat retirement planning. 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/