Financial Literacy for All Ages: Nancy Lloyd’s Advice on Budgeting and Retirement Planning


Nancy Lloyd is a personal finance icon. Her career includes working/writing for/commenting for/ appearing on the LA Times, New York Times, NPR’s Personal Finance Commentator, The Washington Post, ABC News, GMA, Good Housekeeping, Family Circle, Cosmopolitan, Parade. Former Federal Reserve Board Economist, IBM Systems Engineer, Financial Analyst.

In this Episode: I talk with Nancy Lloyd, a highly respected economics and technology reporter, and a leading figure in personal finance journalism. With an impressive career trajectory that includes notable stints at the Federal Reserve, Mathematica, and IBM, Nancy has become a trusted voice in demystifying complex financial concepts. Her book, "Simple Money Solutions," was recognized as one of Amazon's ten best business and money books of the year, further solidifying her reputation as an authority in personal finance and financial literacy.

Topics Covered:

  • The Importance of Financial Literacy

  • Effective Grocery Shopping and Coupon Use

  • Thoughtful Spending and Budgeting Habits

  • Investing for the Future and Social Security Misconceptions

Time Stamps:

  • 00:00 Nancy's work spans finance, consumer advocacy, environment.

  • 10:20 Wall Street's risky portfolio focus in retirement.

  • 12:58 People should consider impacts of retirement decisions.

  • 16:50 Social Security benefits rise until age 70.

  • 20:17 IBM worker shares successful housing investment strategy.

  • 24:18 Cheaper housing, tax benefits, commuting savings emphasized.

  • 28:10 Elderly struggle with shopping services, youth uninformed.

  • 31:02 Understanding cost-saving shopping strategies through coupons and efficiency.

  • 34:29 Cut the caffeine, save money, start investing.

  • 37:49 Multimillionaires had trouble with early online bill paying.

  • 41:50 Balancing work, education, and financial benefits.

  • 43:34 Financial advice: educate, avoid fees, understand.

  • 46:39 Financial literacy programs lack independent oversight and effectiveness.

This episode offers invaluable insights for anyone seeking to improve their financial knowledge and make more informed, strategic financial decisions.

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Related: Are Economists Smarter?