Advertise on podcast: Dollars & Sense with Michelle Singletary

When Lauryn Williams became a professional athlete at just 20 years old, she started earning big money. She went on to win four Olympic medals but found herself in several bad financial situations. Without a strong foundation in personal finance, she relied on financial advisors who didn’t have her best interests at heart. After experiencing the fallout of poor guidance, Lauryn realized she had to take control of her own financial future. Now, she’s helping others do the same. This week, Lauryn tells Michelle about her journey from becoming the first American woman to medal in both the Summer and Winter Olympics, to building a second career as a Certified Financial Planner. Together, they discussed the costly mistakes athletes and young professionals often make and how to avoid a “dud” when looking for a financial advisor. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. 00:00 Welcome to Dollars & Sense with Michelle Singletary 01:29 Meet Lauryn Williams: From College Athlete to Olympian 03:09 The Financial Reality of Becoming a Pro Athlete 04:56 Early Money Mistakes and Hiring the Wrong Advisor 06:08 The Two-Mortgage Mistake and the Real Estate Crash 09:37 Navigating Sponsorship Contracts and Financial Anxiety 12:27 The Lack of Financial Coaching in Professional Sports 16:46 What Is a Fiduciary and Why Do You Need One? 19:12 Pivoting From Athletics to Financial Planning 23:54 Relocating to Colombia for a Better Cost of Living 26:45 Overcoming Financial Shame and a $150,000 Mistake 29:39 Navigating the Finance Industry as a Black Woman 31:10 Budgeting and the Pressure of Keeping Up With the Joneses 34:50 The Ultimate Freedom of Paying Cash for a House 38:28 Tackling Student Loans and Defining Financial Security 39:59 Feeling Green: Balancing Cash Flow and Retirement Contributions Hosted on Acast. See acast.com/privacy for more information.

Marian is retired and enjoying the life she worked so hard to build. But as she watches her friends age and lose their independence, she can't stop wondering what her own version of that might look like — or how to pay for it. Michelle and Marian talk through her retirement "buckets," explore the possibilities of long term care, and whether she’s really prepared for what lies ahead. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. 00:00 Welcome to Dollars & Sense with Michelle Singletary 02:08 Meet Marian 03:31 Losing Her Husband and Estate Planning 04:56 Selling the Business During the Pandemic 06:20 Inheriting an IRA and Explaining RMDs 07:52 Social Security and Consolidating Investments 12:25 Breaking Down Marian's Current Financial Plan 15:35 The Bucket Approach 17:48 Long-Term Growth and Coverage 19:09 Grieving the Business You Built 21:13 Aging Without Kids: Who Will Look After You? 27:08 The Chapter In Between 28:12 Staying Put vs. Pivoting: Six Steps to Smart Decisions 35:15 Giving Yourself Permission to Spend 38:28 Final Thoughts: Why an Objective Third Party Matters Hosted on Acast. See acast.com/privacy for more information.

When Lauren’s daughter wanted to go to college, there was no question–she was going to be allowed to go wherever she wanted. For Lauren—who is a teacher—a good education was worth the price. But after helping their daughter through college and graduate school, Lauren and her husband are staring down nearly $92,000 in Parent Plus Loans and wondering what that debt means for their future. Michelle sits down with Lauren to figure out how the couple should tackle their loans, where they can cut back, and whether they can help their daughter with some of her own student loans. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. 00:00 Welcome to Dollars & Sense with Michelle Singletary 01:00 Meet Lauren: A Mom Facing $92K in Debt 04:33 Paying for College While Managing Life's Expenses 06:26 Was Out-of-State College Worth the Debt? 10:33 Why Her Daughter's Education Was Worth the Sacrifice 14:05 The Money Conversations Parents Avoid 15:21 Debt Dash: Breaking Down the Numbers 20:00 Credit Cards, Eating Out, and Hidden Expenses 23:47 Michelle's Debt Payoff Plan: Start Small 27:07 Understanding Parent PLUS Loan Repayment Options 31:27 Teaching Your Kids to Talk About Money 37:13 Helping Your Adult Child Become Debt-Free 40:39 Lauren's Financial Action Plan Hosted on Acast. See acast.com/privacy for more information.

How do I make sense of my money? This isn’t an easy question to answer, and it’s not one you have to answer alone. On Dollars & Sense with Michelle Singletary, the Washington Post personal finance columnist Michelle Singletary gets candid about the financial decisions that shape our lives. Michelle talks with everyday people, experts, and public figures to help make sense of your dollars. Tune in every Tuesday for Michelle’s advice on questions directly from listeners. Want Michelle to answer your money question? Email [email protected] for a chance to be on the show. Hosted on Acast. See acast.com/privacy for more information.