everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place welcome to the saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton a little welcome to the saving with Steve shall we talk about the ins-and-outs of money pretty much everything under the sun to release the you having a happier healthy relationship with money hey I want to thank you for joining us today I hope you all had a wonderful happy new years has been a great New Year's for us we just hit the 900,000 listener marks<br> very very happy with that so you know what let's start at the start of the new year right we got the perfect guest and we have Nancy tengler she's the author of a woman's guide to successful investing order be talking to Nancy about empowering women to control their financial future to be talking about things like that while rules investment 12 rules for female investing money advice or 20-somethings just starting your career hey if you're 10 years from retirement hit you want to listen here and we got a whole lot more so with that let me tell you a little bit about Nancy Nancy tanglers career she's been a manager for over 40 years she's currently the CEO and chief investment officer of laughter tangler Investments nasty she's so passionate about and an advocate for women's financial literacy C leads the firm's women and wealth initiative Nancy's actually a sought-after TV print Financial commentator as well as the local National media Outlets they all like Nancy because she knows what to talk about more importantly she knows<br> the talk of more Portland she has a wonderful voice so Nancy walking to the show thank you for being with us today thanks so much is they've been asking for somebody just like you and I think you fit the bill now let's just get started with the 12 rules for female investors I think that's really great place to start so I'm going to let you go ahead and just knock him down and it's so interesting because women identify as favors they self-identify as good Savers but they think investing is gambling or magic or Sports and so what I'm trying to do is demystify all of the language and those Notions for women because the research shows present company excluded that we make better investors than men and there's they're used to only when I wrote the first edition there was only one study but now there's a there's multiple and it's obviously some of the greatest investors are men but<br> it wasn't things that we do is we spend a lot of time doing research or willing to change our minds and we're on where I'm focused on beating some arbitrary Benchmark so the first rule I talk about with women because the risk of ours is that the biggest risk to your two women's portfolios is that they often do not take enough risk and that that can't be underscored enough because taking risk is how you make money and you take risk when you get in your car you take risks when you get on a plane you take risk when you buy a house but somehow it feels scarier when you're buying stocks cuz you can look at the price movement every second and so one of the things I counsel women is is to take a long-term approach but should definitely take breast<br> that's wonderful I actually understand that from my wife perspective and she's always worried about what happened this and you know the problem with the news is every time you see something bad about stocks it's usually because something went down or somebody did this or somebody did that or you know the whole shot so I did just perpetuates that so I understand that so what's next last rules it's on number 10 high Investment Management fees are Enemy Number One for women seeking to accumulate wealth remember fees are the single biggest threat to your portfolio why is that because they compound overtime and so a lot of people will tell me that they have a financial advisor and he's only charging them acts but what they don't understand is that there is also there are also paying fees on the funds or the mutual funds or the ETFs that that they're being put into and sometimes the advisor is getting a portion of that fee it's not a kickback it's a pain<br> antonym for putting clients in that fun so you can you can look at your portfolio and think you're only paying 1.25% and you could really be playing paying closer to 2 % that margin that differential in fees is it the traction from Total return I call it the biggest eroder of Total return and I don't even think that's a word but I think everybody knows what I mean I'm so I really caution women to ask that question and and not to be shy about it because if I searched don't talk about it<br> I also encourage them to have somebody show them I think that's wonderful because so many people were there female or male they just don't realize what they're actually paying and see this you know what you know about variable annuities in the underlying 12 V 1 fees and all that kind of stuff so some people think I got this great thing but they don't realize they're paying 23 4% and it's nuts ain't nothing very very shocked and what's next I said that's outstanding I think one of the things that people need to learn in the market and by the way you're absolutely right these rules are not just for women I have a lot of men that read the book so the first edition the cover was pink and we made this one blows so everyone everyone can enjoy a lasting rule number six and actually 5 and 6 I think we're critical B 6 is the stock market is a tug-of-war between fear and greed buying from fearful Sellers and selling too greedy by<br> is optimal but the Savvy women will require a woman will require more than just good instincts to do so you have to develop a discipline employee evaluation tools we discussed in the book and do your research so I give a lot of case study examples of stuff that I bought early or socks that I bought and went down and then what's happened since then or case studies on individual Securities we looked at in the first edition one of the early examples are given the book at Starbucks which I bought in April of 2007 and you know even though I wrote the book I don't really remember all the fine points but I actually bought it in April 2007 as Charles Charles Schulz came back to the Howard Schultz came back to the firm sorry and and it went up immediately and that's always risky cuz you think you're super smart but then we had the grates and answer crisis in the stock went from 30 where I bought it up to 40<br> and down to something like $6 a share of $7 a share and the best thing would have been if I would have bought more but because you remember that everybody's portfolios were melting I just threw my statements in the in a drawer because I didn't want to do the wrong thing good news is I didn't sell it and I'm up 14% annually since that time even after the stock went down dramatically and I didn't buy more I'm at 14% annually and the snp's of eight and a half and that was through the end of last year so I'm sorry 2022 and early 2023 so if you're buying great companies and I call them stocks you can own for a lifetime you need to have the courage and the conviction to be able to add to those name when the market goes off the rails a little bit I actually grew that actually when the market does go off the rails a little bit it's also a great buying opportunity there's nothing like getting something for a discount<br> think about it something that was 40 you're getting 48 it's less than 80% off right that's great can you identify a great company you know about Microsoft which I actually bought my first position was in 2003 but then I added to it significantly after they added a dividend and you know that's stalking my portfolio is his up 1500 + 70% or 15.3% per year. You do need time to go by but you also just need patience and that's why I advised you know women and and they're pretty good at this don't look at it everyday do your research stand by the conviction unless something significantly changes that the company was wonderful advice what's next<br> rule number five<br> rule number four I think it's super important don't run with the fast crowd establish a discipline it's all about discipline that meets your objective never chase Total return and never never never buy stock in a company you do not understand or does not meet your risk and investing injectors and I think that's probably the worst thing about the financial news media's you have people on them that are they're advocating stocks and they're not thinking about what your personal risk profile is or what your needs are from an A diversification standpoint so I I think you can get great ideas from from from you know the national news media but then you have to do your own research and I give a series of examples when I didn't do that and what it cost me I have a chapter on big mistakes and what to learn from him and thinks you know so that's important I do think at the end of that chapter people say well I'm I listening to her<br> I've already made all the mistakes for you so just listen to what I'm telling you because I've done it personally but that's this very true and you know what there's been studies done on people like Jim Cramer hey you know when the bye bye bye but you know when the sale sale sale in the next thing you know that he lost money money money or you hear about lost three talking about how the feds going to be doing this in this in there going to be blowing interest rate and they're talking about things that are counterintuitive to what the fat actually does so how does that help you understand that media peace it's just you know making decisions on what the media says it doesn't really work so I agreed that so you know if we're going to have to take a break real quick everybody stick with us we'll be right back with more Nancy whiskey more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the in an ounce of money those financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton a little welcome back to the same with Steve shall we talk about the ins-and-outs of money I'm going to thank you all for joining us all the replays are available at staying with me. You asked if you're enjoying the stories of helpful information insides and saving receiver encourage you to subscribe to your YouTube channel never missed a show check out her you know what our feeling is that you can help radio B vyas radio talk radio in New York City e360 TV Las Vegas TV network all those networks are dedicated to empowering you to solve problems uplift your spirit live a life of personal financial Freedom now let's get back to Nancy I know I read that really really fast sorry guys but I want to get back to Nancy here we've been talking about the 12 rules for female investing now we're going to be moving on to some advice for young girls that<br> in their twenties are just starting their career career best but indeed currently you can open a brokerage account with $0 you can buy fractional shares in a in a stock so if you like Chipotle in but you don't like the price cuz the 1500 $2,000 I don't even remember anymore you can buy one one-hundredth of a share and that actually is a way to really build wealth over time I think one of the things that I learned when I was writing the first edition is that the average age of a divorce for a woman in the United States is h30 so you don't get married and think how I'm going to get divorced in 10 years but you should be engaging in and participating in whether you're single or married in the process of managing the family wealth or you at the very least you're unwell you contribute to your 401k cuz you usually get<br> matching app free money and and you really just focused on it if you can't don't have enough money to buy stocks I have a chapter on how to buy exchange-traded funds and what you should be thinking about those at least unlike mutual funds tend to have very low levels fees we launched our own it has a little bit of a higher because it's actively managed b t glr its portfolio of actively managed dividend growth stocks and one of the things that I didn't read on the I'm just going to say this quickly Steve on the intelligent rules with a 3-1 in for good measure and it is so that's number 13 I guess buy stocks like you buy toilet paper ogas on price and yield and I think if women think about that the compounding of the dividend just like fees compound dividends that grow and are paid every quarter compounded contribute materially to Total return some some research reports show 50% contribution from dividends it just depends on the. Measure so you really want to<br> think about that when you're buying stocks it's a great analogy to look at just like you're buying toilet paper for how much you pay that's okay and then you know what the I think that's a really important statement because the reality is if you're saving for retirement and I can make it a sport because my guy but it is a it's an accumulation game American Legion Lane overtime if the market goes down by more because it'll be larger down the road so that's very very well that's a wonderful okay so here's the biggie 55 10 years ago for a retired hate what advice do you have there so I have to get that question am I too old to start investing in so I have a case study of a woman named Stephanie moved didn't start until she was on a fixed income investment early days with her husband and then he died she retired and she died with five and a half million dollars now she did live to be 100 so we are all going to do that<br> it is never too late and I have decided to study in the book that looks at 3 strategist and you'll probably know who all these people are but melchior Bogle and and Quinn and that scene Brian Quinn and they each that like allocation 40 years from retirement 3010 and then less than 10 years and I think what people think is that when they retire that's the end of the game but I always described it retirement is 20 years of unemployment so you still want to be taking risk the best-performing portfolio was Jane Bryant Quinn and she had 80% allocation with less than 10 years to go to retirement now I'm I should be retired and I have 95% of my portfolio in equities not everyone has my risk tolerance but I I really encourage people to think about not so I don't like target-date funds the day you retire is not the day you're going to need all the money you're going to need it later and so you want it to continue to grow into retirement<br> that's wonderful that's wonderful okay now the next topic is a big one 95% of women are set to become primary Financial December decision-makers<br> let's hope everybody understand that and what are the key insights you can offer to empower women you know with essential Financial knowledge and things like that what were they really need to know cuz that's really important yeah and so the average age of a widow in the United States is 59 and a half I was 59 when my husband passed away and I'm going to tell you that is not a good time to be learning how to invest money the money spells which is usually the husband unfortunately and that doesn't seem to be changing of Millennials are not engaging even as much as baby boomer women did it it's not a good time to establish a relationship with your financial advisor two-thirds of women end up firing their financial advisor within the first year as expensive as disruptive it leads to sometimes multiple financial advisors in the future so would Ike I really encourage women to engage in the process well before they need to understand it but if they don't then that that is the reason I wrote the book<br> and I I hear from women all the time that just knowing the terminology made their financial advisors respect the more I have a quick anecdote I left the business when my kids were in middle school and high school and I went back to graduate school but I was home and I didn't want to have to manage the money so my husband and I interviewed advisors I was the CIO of one of the largest Investment Management firms in San Francisco in town and every one of the people that we interviewed with and through the entire interview they would say so what doug tell me what's your wrist profile do you say I don't know what do you think it is Nancy and we did this the whole meeting and they knew me as a as a colleague in a professional women tend to excuse himself from the conversation but they're also excused from the table Often by the people there working with so I would encourage them to ask questions it's your money and you have every right to know everything your advisers doing we talked to our clients for example before we do stuff not because we need their approval because we want them to know what we're doing and we<br> how to make sure their objectives are still the same so you have to find an adviser with whom you can work and trust and that if if I tell him in anything that is the single most important these you're not going to do it yourself find someone who respects you and is going to treat you with enough that the service-level you deserve I totally agree with that there is interesting my mom's 87 it wasn't until my dad was 84 and head of his first surgery and only surgery of his life that she says oh my God I need to learn this stuff we're doing this so it is it's really very interesting don't wait until your spouse has health issues in what if you're in your forties or fifties please the more it the better educated you are the more confident you are the lowest ability for somebody take advantage you is the holeshot I I just totally agree with that if there's a final thought of the day forum<br> women what would it be Nancy that we have the skillset so if you think about it women tend to do most of the purchases in the research for the purchases in their home week we have the skills that Aunt it to look at companies and there's so much I've whole chapter on free websites where you can go and get data I used to spend millions of dollars on a year so I would encourage I guess my thought is we have the skillset the research shows we make great investors and and we should begin even if you have a financial advisor you should have your own account that you're buying Securities and I encourage my clients to do that makes them better clients makes me of that hurt investment manager so that that would be my final thought it's not beyond your grasp Peter the Great Peter Lynch said if you pass 5th grade math you can do this and by what you know<br> I understand it down to it that's a biggie Nancy I want to thank you for joining us today hate how can people get in contact with you your firm get financial advice from you what would be the best way and please talk about your your Women's Wellness initiative will probably have a small subscription fee just so we can get disseminating information board we're not doing this it's a not-for-profit we're not doing it to make money I want women to have access to 2 free videos free commentary that we have for women on the website I don't think is up yet but you can go to our website which is a Laffer Laffer tangler gengler.com and we have a button there if you feel like buying the book you can there's another button it'll take you two are ETF website but there is also an ability to make appointment<br> and please do reach out to me I may not be able to be available for everyone but I wrote this book in a snowstorm I was snowed in Lake Tahoe the second edition which is much harder to write in the first edition not because you make money writing a book but because I want women to have the tools I've been there it's you know hopefully you won't won't be one of the statistics but it's not a good time to be learning investing you got enough other things to be dealing with a if your spouse has passed away but I had a tumor the clock in my colon and I went to an emergency surgery and if I had if I got in 4 hours later I wouldn't be here right now so it's one of those things my wife could be in a position that each and every person that's listening I could have been so I very much encouraged the education the more education you get the more confident you are the better decisions you are and life just gets a lot easier.<br> the monkey on your back wearing bad Nancy thank you so much for joining us today this is just wonderful by the way we will have on our website link to get Nancy's book a link to connect with laughter and tangler and again hope you all have a wonderful New Year Nancy thanks again for doing this and I appreciate that you have fun everybody stick with us we'll be right back with more whiskey more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the in an ounce of money does Financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money so if you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton hey welcome back to the wasn't Nancy Taylor wonderful wonderful advice to help Empower women for their financial Futures that you control that I think that's great what I'd like to talk to you cuz right after the New Year hey that Holly that hanger you know how do we make it go away all first of all many people out there even if they had a plan they put too much on the credit card in another week and a half we're going to see that bill come do oh my gosh what do we do how do we reduce our debt how do we deal with this debt hangover okay number 1 Let's Start by listing all of your bills game very straightforward I'm going to talk to you about Avalanche and the snowball method for dealing and reducing your debt<br> what you want to list all get your list of all your credit cards I don't care but your mortgage your your your car payment and your credit cards I want you to listen to buy largest bounce to the smallest bounds I want you list the payment date the minimum payment and and then you want to look at it and say okay<br> if I'm going to take the snowball method okay I'm going to pay off the smallest one first and how am I going to do that what you're going to do is you're going to pay you minimum payment and all the other credit cards in your the debt that you owe and pay as much as you can on the smallest one one says smallest One is paid off and then you take the amount that you're paying on the smallest one and added to the minimum payment of the next one and keep paying that one until it gets paid off and then you're going to take what you're paying their and added to the next one you can see this call the snowball method or if you want to take the Avalanche message to Alan Smith it typically goes with the one that has the highest interest rate or the highest balance if you got a home or car that might not be the one you want to take, but if it's a credit card with the highest balance as much as you can as well as the minimum age that gets paid off<br> move on to the next one in the Avalanche it all down and it gets taken care of how are you going to find the extra money to waste one you could take a look at what your spending Carly look how you do it for example if you got cable TV in your pain 415 streaming sites cut it down to two or three save yourself a bunch of money if you're still paying for cable and you're paying $300 a month look at getting internet today internet services plus Ally TV you can get AT&T live Hulu live and get all your life channels and you also have Hulu and then you can have a couple streaming channels we did that saves us $200 a month we looked at our cell phone provider hey you have that contract there are mint mobile and many others that have a lower cost than going with the big four when it comes to the cell phone bills hey we saved another $50 a month that way when we started looking at shopping we<br> bought the actual vegetables as opposed to packaged vegetables are packaged salad made her own stuff and then we looked at as opposed to buying can or prepared stuff we used natural meat so on and so forth we were able to save another $150 off our bill okay people will take on extra gigs like uber Lyft they will take on I have one client that has is now working as a tutor for foreign students making $40 an hour<br> so when he's working 20 hours a week he makes $800 a week<br> as a tutor and that $800 goes towards paying down his dad you could do many things to reduce or eliminate that debt quickly the key here to remember Is this Burning an interest on your money is better than paying interest on your money the quicker you can get to the point where you're earning interest on your money the better off you will be because then you could take that extra money and start putting forward to retirement party in towards your house putting it towards making your life better easier down the road so I want to thank you all for joining us today was wonderful to have information on a website to go to their website to be able to get her book and I want to thank you all for doing this day I hope you have a wonderful wonderful New Year here in 2024 look forward to talk to you next week on stage whiskey by by<br> thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton<br>