The Money School

When the stock market tanks, what should you do? Buy! We know this is counterintuitive: if the market is tanking, why would you want to double down and buy more? It feels like running into a burning house, right? Today, Nicole breaks it down.

Today, Nicole talks to  Money Rehabber Chelsey, who wants to know whether she should sell her dream home to give herself more financial freedom. Nicole talks Chelsey through whether she's overextending herself financially with a pricey mortgage... and spoiler alert: they have a major breakthrough.

Today, Nicole breaks down all stock market lingo you need to decode investments —like market cap, and P/E ratio—and shows you how they actually work in real-life trading, using a deep dive into a real example of a stock that got... weird. You'll learn how to spot a stock’s highs, lows, and everything in between… plus why relying on just one type of analysis (technical OR fundamental) is like trying to fly a plane with one wing.

This episode checks all of the boxes. Want the secret sauce to being a bigger player at your company? Check. Are you thinking about starting your own thing and want the formula to determine whether you can leave your job behind? Check. Are you raising kiddos and want help teaching them the value of a dollar? Check, check and check. The reason this episode has everything is because it features the incredible and wise entrepreneur Nicole Walters. And when the Nicoles get together, they leave no stone unturned.

We know you probably love getting your tax refund, but news flash: you shouldn’t. Today, Nicole explains.

Today on The Money School, Nicole tackles one of the most powerful — and most misunderstood — plays in retirement planning: the Roth conversion. Moving money from a traditional IRA to a Roth IRA can save you a staggering amount in taxes over the course of your retirement, but get it wrong and you're stuck with an unnecessary tax bill you can't undo. Nicole breaks down exactly what a Roth conversion is, who it makes the most sense for, and the specific scenarios where the math is overwhelmingly in your favor. She walks through how to actually execute one on Fidelity, Schwab, and Vanguard step by step, and explains the IRS rules that trip people up — including the pro-rata rule, the five-year holding clock, and why conversions are now permanent with no take-backs. Then Nicole gets into the strategies high earners need to know: the backdoor Roth, the mega backdoor Roth, and why 2026 is an especially strategic window to act given the tax brackets locked in by the One Big Beautiful Bill Act.

Nicole gives a listener advice on what to do about taxes if you filed for unemployment last year, and debunks Dave Ramsey’s statements that people collecting the stimulus check are "screwed." Nicole says: You are not screwed. From This Episode: Report your unemployment benefits on your Federal Tax Return, which will say “Form 1040”. You’ll need Form 1099-G, which you should have received from your state. You can see how much you received in unemployment benefits in Box 1. You’ll need to report this amount on your tax return on line 7, Schedule 1.  You also have to report any taxes that were withheld from your unemployment benefits… to find that number, look at that trusty Form 1099-G again… the amount of taxes that were withheld from your unemployment benefits is in box 4. You report that amount on line 25b of your tax return. If you have an income of $72,000 or less, you can file for free using the IRS Free File program. If you’re a veteran, check out MilTax for free filing options. Find out more about VITA ⁠here⁠. VITA is an organization that offers free tax coaching to folks in low-mid income brackets, as well as persons with disabilities, the elderly and individuals with limited English proficiency who need assistance in preparing their taxes.

529 plans have been around for decades, but recent legislation just made them significantly more powerful — and most families still aren't taking full advantage. Today, Nicole breaks down everything you need to know about 529 plans: how the tax-free growth works, what qualifies as an expense now (spoiler: it's way more than just college tuition), and the strategic moves that can turn a single contribution into a six-figure education fund. Nicole walks through the major changes under the One Big Beautiful Bill Act — including doubled K-12 withdrawal limits, expanded expense categories like tutoring and career training, and why the 529 is no longer just a "college fund." She also explains the game-changing 529-to-Roth IRA rollover that eliminates the biggest fear families have about overfunding, the superfunding strategy that lets you front-load up to $95,000 in a single year, and the common mistakes that cost families thousands in missed growth.

he financial media wants you to believe you need to be a stock-picking genius to build wealth. You don't. Today, Nicole breaks down the boring-but-proven investment strategies that have consistently built wealth over decades — and explains why most of what you see on social media about investing is designed to mislead you. Nicole walks through the real math behind dollar-cost averaging (spoiler: $300 a month can become $678,000), why your S&P 500 index fund might not be as diversified as you think, and the exact order of operations for your 401(k), Roth IRA, and brokerage accounts. She also flags the silent mistakes that erode long-term returns — including one habit that feels responsible but actually makes you a worse investor.

Think you need a fat paycheck before you can start investing? That's one of the most expensive myths in personal finance — and today, Nicole breaks down exactly why.She walks through the real data: 38% of American households own zero stocks, and the number one reason people give is believing they don't have enough money. But in 2026, the minimum to start investing at most major platforms is literally one dollar. Nicole explains the structural changes that demolished the old barriers — fractional shares, zero-commission trading, and robo-advisors — and lays out a step-by-step plan for going from zero to building real wealth on any income.Then Nicole gets into the math that should change how you think about money forever: what $100 a month actually turns into over 30 years, why dollar-cost averaging beats trying to time the market, and the most common mistakes new investors make that silently cost them thousands.

You've seen the headlines about rate cuts, rate pauses, and Fed chair nominations — but what does any of that actually mean for your wallet? In this episode Nicole breaks down how the Federal Reserve works, what the latest rate decisions mean for your credit cards, mortgage, and savings accounts, and what the upcoming leadership transition from Jerome Powell to Kevin Warsh could mean for your money. Plus, she shares a "spread lock" CD ladder strategy you can use right now to lock in today's high savings rates before they disappear.

Have you ever looked at a stock and thought, "I want to buy that… but where do I even start?" In this episode Nicole walks you through the entire process from A to Z — from opening a brokerage account to researching and picking a stock, understanding the difference between order types, and knowing exactly what happens when you hit that buy button. Whether you're placing your very first trade or just need a refresher, by the end of this video you'll have everything you need to buy a stock with confidence.

Want to invest like the best? Today, Nicole shares tips from three of the greatest investors of our time: Ray Dalio, Warren Buffett, and Michael Burry. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Have you ever wondered how Warren Buffett came up with his investment strategy? Today, Nicole pulls back the curtain. In this episode, Nicole breaks down how the investing pros create their investing theses, how they stress-test their own ideas, and three famous real-world examples that paid off. Then, Nicole will explain how you can create your own strategy— and how to easily execute on it... today.

No cash? No problem! Today, Nicole explains the money moves that can help you make an all-cash offer on a home... even if you don't have the $! This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

If you get a raise, or take a distribution on a huge stock, or win the lottery, the first thing you do is celebrate. Obviously. The next thing you do is ask yourself: what do I do now? Or, better yet: what do I do now that will make this money grow into more money? That's what today’s Money Rehabber is asking herself, and Nicole helps her find answers.

Is renting really throwing money away? That is just one of the hot real estate topics Nicole gets into today with Paul Mark Morris— real estate expert and host of the podcast ⁠Radical Wealth Plan⁠. Nicole and Paul talk about whether now is a good time to buy, Paul's three rules of real estate and whether 1031 exchanges are as cool as they seem on TikTok. Plus, Paul also gives a masterclass in the art and science of closing a sale.

Today, Nicole cracks the code to the million-dollar question. Literally. How much do you need to invest—and when—to retire with $1 million in the bank?

What happens if you contribute more to a Roth IRA than you’re allowed??? Asking for a friend. Today, Nicole spares a listener from fees galore.

Some retirement options (like 401ks) can only be funded with contributions from income. So where does that leave full-time parents and homemakers? Luckily, there is a solution. Nicole breaks down the retirement option every spouse not earning income needs to know, and even how to include it in a prenup.

That's right: Lorilyn Wilson is our new favorite CPA who makes taxes *actually* kinda fun. Nicole holds nothing back and asks all the burning tax questions people are normally too scared to ask: How can I get the most back on my tax refund? Are there any new tax credits this year I can benefit from? If I'm a business owner, can I deduct my clothes? If I mess up my tax return... will I go to jail? It's going down! Learn more about Lorilyn here: https://www.linkedin.com/in/lorilynacrum/

In 2023. 66% of Americans say that they plan on making a financial New Year's Resolution. But way too often, our resolutions set us up to fail. Here are five New Year's Resolutions that actually work.

Money Rehabber Mary reached out to Nicole with some questions on how her son, Sean, should use his savings to buy a car. Then, Ida hit, Sean was evacuated, and had to use his entire emergency fund. Nicole invited Mary and Sean on the show to talk about what to do next.

'Tis the holiday season and it’s… expensive. There are gifts to buy, family to see, and parties to attend. If you’re lucky, it’s an embarrassment of riches… that can also leave you totally broke. Today, Nicole gives you some fresh tips for saving money during the holidays.

Happy Open Enrollment, Money Schoolers! When you pick your health insurance plan, you're likely going to encounter FSAs or HSAs. Today, Nicole explains the difference between the two— and how to get the most out of both of them.

In today's Change Maker episode, Nicole sits down with Elaine Welteroth— award-winning journalist, a TV host, the former editor in chief of Teen Vogue, the author of the New York Times bestseller "More Than Enough," and overall wonderful gem of a human. This conversation is jam-packed with stories we can all learn from: how Elaine's stoop wedding helped her and her hubs snag their dream house, how she took the leap to working for herself, and how she went from a scarcity mindset to an abundance mindset (spoiler alert: it involves bubblegum and vintage cars).

For decades, the private equity world has been a velvet-roped party — only open to billionaires, pensions, and endowments. But that might be changing. This month, a new executive order made it easier for private equity (and other high-growth, high-risk assets) to land in your 401(k). On the surface, it looks like access. But Nicole breaks down what’s really going on behind the scenes… and why private equity is suddenly rolling out the red carpet for retail investors like you. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Nicole covers exactly how much should go toward your essential spending, what the heck you have to put toward retirement, and how much you get to spend on the fun stuff: vacations and bottomless-mimosa brunches.

Does talking about money stress you out? You’re not alone. Today’s Money Rehabber feels like his financial health would benefit from open communication about money with his friends and family… but [s/he] just can’t start the conversation. Today, Nicole helps him practice those conversations so that the real deal is easier.

Stocks get all the attention, but bonds? They deserve some love too. If the latest market swings have you feeling a little queasy, bonds can help balance your portfolio and create a steady stream of passive income. In today’s episode, Nicole sits down with a Money Rehabber who wants to start investing in bonds but isn’t sure where to begin. Nicole breaks down bond basics, key terms, and how to build a bond strategy that works for you.

You may have seen the news last week that the consumer confidence index fell by 7 points this month, marking the largest drop since August 2021. Translation? People are getting nervous about a recession. But here’s the thing—you don’t have to panic just because the economy is. Even if you’re skeptical about the marco-economy, you can create confidence in your own micro-economy by taking the reins of your investments. So today, Nicole is showing you four asset allocation strategies designed to help you weather any financial environment. In other words: four recipes for a portfolio that provides growth in good economic times, and stability in tough economic times.

How to Use Individual Retirement Accounts (IRAs) Like a Pro More than half of Americans feel behind on retirement savings, but the good news is, it’s never too late to level up your strategy. Today, Nicole walks you through Individual Retirement Accounts (IRAs): what they are, how they work, and how they can help you build real wealth for retirement. She unpacks the key differences between Traditional and Roth IRAs, how to choose the right one (or both!), and what tax implications to keep in mind. Plus, Nicole shares a workaround for high earners and shows you how to open your own IRA today. Whether you're just starting out or optimizing your retirement game plan, this episode has something for you. Ready? ⁠Open an IRA today⁠. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Today’s episode is one of the most powerful we’ve ever done on Money Rehab. Nicole sits down with a listener named Erin, who reached out after being diagnosed with stage 4 breast cancer. Her message was simple, yet profound: “I need to get my finances in order to make sure my loved ones are taken care of.” What follows is a raw, courageous conversation about life, money, and legacy. Erin shares her fears, her love for her family, and the steps she’s taking to give them financial peace of mind. Nicole brings in attorney Veronica Escobar to walk through the essentials of estate planning—from wills and trusts, to power of attorney and beyond. This is not just a conversation about preparing for death. It’s about taking control, even in moments when everything feels uncertain. It’s about how we can use money as a tool to protect the people we love. This episode is for anyone who wants to plan ahead, not out of fear, but out of love. It’s an emotional listen, but an essential one. Tomorrow’s episode will be a follow-up, where Nicole answers Erin’s questions about saving for medical care. But today, we focus on what Erin wanted most: peace of mind for her family. Check out the company Nicole connected Erin with for estate planning, Trust and Will, ⁠here⁠  Learn more about Veronica Escobar’s work and practice ⁠here⁠ This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

PE is obsessed with this one sector right now: boring businesses. We're talking plumbing, pest control, cleaning companies— you know the ones. But this isn't just a move for PE investors; you can do it too. Nicole explains.

If your money is just sitting around in a savings account, chances are it could be working harder for you somewhere else. This is the exact situation facing the Money Rehabber Nicole talks to today. When they go a level deeper, Nicole discovers how anxiety around investing is also at play. If you’re feeling skittish around investing or just feel like your money could be doing more, this is for you!

With margin borrowing, you can give your investments a boost— but if you're not careful, you could also lose more than you gain. Nicole explains the concept, and whether it's a money move you should make.

Today, Nicole unpacks private equity (PE) by sharing how it works, who the big players are, and gives you the scoop on the deals that went really right and really wrong.

You could be invested in crypto, and not even know it. Nicole explains how this could happen, and what to do if you're secretly invested in this volatile asset.

Picture this: you have a job at a company with 401(k) benefits and then... you quit (or the job quits you). The good news is that money is still yours. But the retirement fairy won't just come and leave your 401(k) under your pillow. Nicole outlines the steps you need to take after leaving a job to make sure that your 401(k) is still working for you.

An estimated 160 million Americans are planning to travel for the holidays. If you're one of them, here are five ways you can save on one of the busiest— and most expensive— travel times of the year.

Money can’t buy you love… but it sure can cost you a relationship, because financial conflict is a huge source of tension for many couples. Today, Nicole is joined by entrepreneur and author Jason Tartick about how to not let money ruin a relationship. Plus, Jason talks about his experience being scammed, which companies he’s bullish and bearish on, and what Elon Musk is like at a party. Find Jason's latest book, Talk Money To Me: The 8 Essential Financial Questions to Discuss With Your Partner, here: https://www.jasontartick.com/talk-money-to-me

Today’s caller is living the freelance dream—flexible schedule, creative freedom, but… zero employer retirement benefits. If you’re self-employed and wondering how the heck you’re supposed to save for retirement without a 401(k), this episode is for you. Nicole breaks down the best retirement accounts for freelancers, how to reverse-engineer your savings plan, and how to turn “irregular income” into “regular savings.” Because yes, you can have a dreamy retirement, even without a W-2.

Confidence in the U.S. is shaky right now—and with ongoing tariff drama and mixed economic signals, it’s no surprise investors are feeling uneasy. But here’s the thing: the U.S. is not your only option. Today, Nicole explains why looking beyond U.S. borders could be the smartest move for your portfolio right now. From “blue-chip” countries like Japan and Germany to emerging markets like India and Mexico, Nicole breaks down the best global investment plays, how to access them (spoiler: ETFs are your friend), and the tax traps to avoid. Diversification isn’t just smart—it’s essential.

Money School Students want to know: can you negotiate your rent after signing a lease? Be a fly on the wall as Nicole negotiates her rent with her landlord! Can Nicole get a better deal? You’ll have to tune in to find out!

Wannabe first-time homebuyers: How are you doing? Are you hanging in? If you are having a hard time, you are certainly not alone; it is not a simple time to buy a home. So this episode is all about helping you develop a game plan that is right for you. To help break this down, Nicole is joined by Scott Trench, real estate investor and CEO of BiggerPockets - a platform that offers various stellar resources and content for real estate investors.  Scott and Nicole talk about strategies to find a good house, whether your first home should be an investment property, and whether you should even buy a house at all.

As Nicole always says: when it comes to your money, it's not what you make, but what you keep, that matters. Today, Pamela Maass-Garrett (the brilliant lawyer behind the Law Mother firm and viral Instagram account) teaches you how to keep more of your money with simple financial protection strategies. Check out Pamela's book Legally Ever After here: https://www.lawmotherco.com/lea-fbook

You’ve heard the old investing advice: “buy low, sell high.” But what if we told you that selling isn’t the only way to make money from your investments? Today, Nicole breaks down three easy, low-maintenance ways to generate income: bonds, high-yield cash accounts, and dividend stocks. Whether you’re looking to diversify your portfolio or just want your money working for you while you do literally anything else, this episode has you covered. To start exploring your passive income options today, go to ⁠public.com/moneyrehab⁠ All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Treasury accounts offering 6 months T-Bills are offered by Jiko Securities, Inc.,member FINRA & SIPC. Securities in your account are protected up to $500,000. For details: ⁠www.sipc.org⁠. Banking services and the Bank Accounts are provided by Jiko Bank, a division of Mid- Central National Bank. For U.S. Investments in T-bills: Not FDIC Insured; No Bank Guarantee; May Lose Value. Treasuries risk disclosures, see ⁠https://jiko.io/docs/treasuries_risk_disclosure.pdf⁠. See ⁠public.com/#disclosures-main⁠  Advisory services for Treasury Accounts are provided by Public Advisors, an SEC-registered investment adviser. Public Advisors and Public Investing are affiliates and both charge a fee for their respective services. For more details, see Public Advisors’ Form CRS, Form ADV Part 2A, Fee Schedule, and Treasury Account page. *4.1% APY as of 2/4/25. APY is variable and subject to change.

Today Nicole answers the #1 question she's been getting lately: what do I do with my money when the economy gets shaky? Nicole shares the investments that have historically stood the test of time during recessions, and even thrived in high-inflation environments

Consumer confidence in the U.S. is shaky right now—and with ongoing tariff drama and mixed economic signals, it’s no surprise investors are feeling uneasy. But here’s the thing: the U.S. is not your only option. Today, Nicole explains why looking beyond U.S. borders could be the smartest move for your portfolio right now. From “blue-chip” countries like Japan and Germany to emerging markets like India and Mexico, Nicole breaks down the best global investment plays, how to access them (spoiler: ETFs are your friend), and the tax traps to avoid. Diversification isn’t just smart—it’s essential.

There's a chance that inflation may rise at the top of next year. To prep, Nicole shares four inflation-proof investments to help your portfolio.