NerdWallet's Smart Money Podcast

Learn how condo and HOA fees change the math on renting vs. home ownership, and how to resist a pricey tech upgrade. Is buying a home with a hefty condo or HOA fee worth the money compared with renting? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola talk with Ryan Sterling, CEO of NerdWallet Wealth Partners, about a listener trying to factor condo fees into the rent vs. buy decision. You’ll hear why the idea that renting is “throwing money away” overlooks the costs homeowners might not get back, how long it could take for buying to break even at different mortgage rates, and why the payoff of owning a home can be as much about emotions as finances. Then, how do you talk yourself out of a big purchase you don’t really need? Sean and Elizabeth weigh the pull of Apple’s new $2,000 folding phone and a high-end smartwatch, why monthly installment plans and phone leasing can make pricey tech feel cheaper than it is, and how to tell whether a splurge lines up with your values. Your financial decisions deserve a real partner. Learn more about NerdWallet Wealth Partners here: https://nerdwalletwealthpartners.com/ Thinking of buying a property? Know the real cost first with NerdWallet’s Rent vs. Buy Calculator here: https://www.nerdwallet.com/mortgages/calculators/rent-vs-buy-calculator Enter for a chance to win a $250 Amazon gift card — and help us improve our show — by taking our listener survey! Find the survey and official sweepstakes rules here: https://docs.google.com/forms/d/e/1FAIpQLSettbeI0yDf8tLt_Q772StVJoWs_Gm-pWa-gSn2fdWEc0XcOw/viewform?usp=sharing&ouid=102666646608198254961 Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/ Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn how to escape a timeshare contract, plus what kind of help exists if you want to buy a home. How do you get out of a timeshare you no longer want? Elizabeth Ayoola talks with travel Nerd Craig Joseph about a listener whose parents are paying yearly fees on an Orlando property they can barely use anymore. You'll hear why these timeshare contracts are so hard to unwind, what maintenance fees tend to run, and why there's often no cap on how fast they climb. Then, can you really get free money to buy a house? Sean Pyles, CFP®, Elizabeth Ayoola and senior news writer Anna Helhoski are joined by mortgage Nerds Abby Badach Doyle and Kate Wood to discuss how down payment and closing cost assistance works, and how to tell a good deal from an expensive one. They get into where the thousands of programs come from, how a grant differs from a forgivable loan or a second mortgage, and one place homebuying help is starting to appear that you might not expect. Want to get rid of your timeshare? Read this before you hire someone to help: https://consumer.ftc.gov/consumer-alerts/2022/11/want-get-rid-your-timeshare-read-you-hire-someone-help Links mentioned in this episode: How Timeshare Presentations Earn Me Cheap Travel: https://www.nerdwallet.com/travel/learn/how-timeshare-presentations-earn-me-cheap-travel Are Timeshares Worth It? Possibly, if You Buy Smart: https://www.nerdwallet.com/travel/learn/are-timeshares-worth-it Want to get rid of your timeshare? Read this before you hire someone to help: https://consumer.ftc.gov/consumer-alerts/2022/11/want-get-rid-your-timeshare-read-you-hire-someone-help Enter for a chance to win a $250 Amazon gift card — and help us improve our show — by taking our listener survey! Find the survey and official sweepstakes rules here: https://docs.google.com/forms/d/e/1FAIpQLSettbeI0yDf8tLt_Q772StVJoWs_Gm-pWa-gSn2fdWEc0XcOw/viewform?usp=sharing&ouid=102666646608198254961 Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/ Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn what to weigh before investing in real estate syndications, including costs, risks and REIT alternatives. Should you diversify into real estate, and is real estate syndication the right way to do it? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola talk with NerdWallet investing writer Sam Taube about what real estate syndication actually involves, the different ways to get in — from online crowdfunding platforms to launching your own deal — and the questions worth asking a sponsor before committing any money. They cover how much capital it typically takes, how long that money could be tied up, and why accredited-investor rules can lock out everyday investors. Sean and Elizabeth also weigh the potential tax benefits against the risks, including past scandals at some online platforms, and talk through simpler alternatives like real estate investment trust (REIT) ETFs for anyone who decides a private syndication is more risk and paperwork than it's worth. They wrap up with a candid conversation about financial anxiety on social media and why it's still worth saving even when money feels tight. Check out NerdWallet's roundup of real estate crowdfunding platforms: https://www.nerdwallet.com/investing/best/real-estate-crowdfunding-platforms Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

When a parent sends their retirement savings to someone they met online, learn how to help them recover – without letting it happen again. What do you do when a parent has spent most of their retirement savings on a romantic partner they’ve never met? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola help from a listener whose father, in his 70s, drained his retirement accounts and ran up massive credit card debt paying someone he met on OnlyFans. Sean shares what happened when his own father lost $150,000 to a crypto scheme while isolated during the pandemic, and Elizabeth talks about being scammed herself and her mother handing money to a stranger promising crypto returns. They get into the shame that keeps victims silent, the chat agencies that mean the person answering may not be the person in the photos, the red flags that show up before money moves, and why a parent who’s lonely is a target long before they’re a victim. Plus, we talk with an economics professor about the Federal Reserve’s decision this week to hike a key interest rate, and what it could mean for your loans and savings accounts. If you’re worried a parent is being scammed, you can access free guidance at the AARP Fraud Watch Network Helpline. Enter for a chance to win a $250 Amazon gift card — and help us improve our show — by taking our listener survey! Find the survey and official sweepstakes rules here: https://docs.google.com/forms/d/e/1FAIpQLSettbeI0yDf8tLt_Q772StVJoWs_Gm-pWa-gSn2fdWEc0XcOw/viewform?usp=sharing&ouid=102666646608198254961 Subscribe to our podcast’s free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/ Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money’s YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is indexed universal life insurance “recession-proof?” Learn how it really works and whether it belongs in your retirement plan. Hosts Sean Pyles, CFP®, and Elizabeth Ayoola speak with NerdWallet insurance writer Elizabeth Aldrich about what IUL actually is. Aldrich breaks down the zero-percent floor that sounds like guaranteed protection (but doesn't mean you can't lose money), the truth behind the "better than a 401(k)" and "tax-free retirement" claims circulating online, and the narrow circumstances where an IUL might actually make sense. Read Lizzie's NerdWallet article on why “recession-proof” insurance is trending: https://www.nerdwallet.com/insurance/life/news/indexed-universal-life-insurance-trending Enter for a chance to win a $250 Amazon gift card — and help us improve our show — by taking our listener survey! Find the survey and official sweepstakes rules here: https://docs.google.com/forms/d/e/1FAIpQLSettbeI0yDf8tLt_Q772StVJoWs_Gm-pWa-gSn2fdWEc0XcOw/viewform?usp=sharing&ouid=102666646608198254961 Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices