Elizabeth Ayoola

And then it sounds like you're in a good spot in terms of your cadence for saving for retirement, but I will quickly say that Some employers, if you have a balance, maybe a $5,000 or less will involuntarily cash out your account. That happened to me. So you're the only one who made a little, you know, retirement oopsie.

And then it sounds like you're in a good spot in terms of your cadence for saving for retirement, but I will quickly say that Some employers, if you have a balance, maybe a $5,000 or less will involuntarily cash out your account. That happened to me. So you're the only one who made a little, you know, retirement oopsie.

So that happened to me once when I left the job and I thought it was free money and I spent it. So that is something you definitely don't want to do if you are going to cash out or if you do get a check in the mail. You want to make sure that you roll that over into an IRA ideally.

So that happened to me once when I left the job and I thought it was free money and I spent it. So that is something you definitely don't want to do if you are going to cash out or if you do get a check in the mail. You want to make sure that you roll that over into an IRA ideally.

So that happened to me once when I left the job and I thought it was free money and I spent it. So that is something you definitely don't want to do if you are going to cash out or if you do get a check in the mail. You want to make sure that you roll that over into an IRA ideally.

Come back on Thursday to hear the latest financial news and what it means for your bottom line. Follow Smart Money on your favorite podcast app, including Spotify, Apple Podcasts, and iHeart Radio to automatically download new episodes. And if you're listening to us on Spotify, leave us a comment right on the platform to let us know what you thought of this episode.

Come back on Thursday to hear the latest financial news and what it means for your bottom line. Follow Smart Money on your favorite podcast app, including Spotify, Apple Podcasts, and iHeart Radio to automatically download new episodes. And if you're listening to us on Spotify, leave us a comment right on the platform to let us know what you thought of this episode.

Come back on Thursday to hear the latest financial news and what it means for your bottom line. Follow Smart Money on your favorite podcast app, including Spotify, Apple Podcasts, and iHeart Radio to automatically download new episodes. And if you're listening to us on Spotify, leave us a comment right on the platform to let us know what you thought of this episode.

Well, I'm hoping my insurance covers most of it since I give them my hard-earned money every month. But whatever is left, I'm paying for it with my emergency savings, investment accounts, and a hope and a prayer.

Well, I'm hoping my insurance covers most of it since I give them my hard-earned money every month. But whatever is left, I'm paying for it with my emergency savings, investment accounts, and a hope and a prayer.

Well, I'm hoping my insurance covers most of it since I give them my hard-earned money every month. But whatever is left, I'm paying for it with my emergency savings, investment accounts, and a hope and a prayer.

And I'm Elizabeth Ayola.

And I'm Elizabeth Ayola.

And I'm Elizabeth Ayola.

Today, we're digging into what's going on with the economy at large right now. The latest GDP numbers are showing that the economy actually shrunk in the first quarter of 2025. And we've been hearing from listeners with questions about whether we're on the cusp of a recession or if we're already in one.

Today, we're digging into what's going on with the economy at large right now. The latest GDP numbers are showing that the economy actually shrunk in the first quarter of 2025. And we've been hearing from listeners with questions about whether we're on the cusp of a recession or if we're already in one.

Today, we're digging into what's going on with the economy at large right now. The latest GDP numbers are showing that the economy actually shrunk in the first quarter of 2025. And we've been hearing from listeners with questions about whether we're on the cusp of a recession or if we're already in one.

Most economic data is released on at least a one-month lag. So last week, for instance, we learned about April's unemployment rate and the size of the labor force that month. But we also learned about hiring and layoffs in March. and economic production, or the GDP, for the entire first quarter.

Most economic data is released on at least a one-month lag. So last week, for instance, we learned about April's unemployment rate and the size of the labor force that month. But we also learned about hiring and layoffs in March. and economic production, or the GDP, for the entire first quarter.

Most economic data is released on at least a one-month lag. So last week, for instance, we learned about April's unemployment rate and the size of the labor force that month. But we also learned about hiring and layoffs in March. and economic production, or the GDP, for the entire first quarter.