Understand the implications of adding authorized users to credit cards, and how to plan retirement so your money lasts. 01:40 Today’s first Money Question: A listener asks whether it’s a good idea to help a friend or family member build credit by adding them as an authorized user on your credit card. Credit expert Bev O’Shea joins Sean Pyles and Liz Weston to discuss the risks and benefits of adding authorized users, including the impact it can have on a person’s credit profile, the conditions under which it might be unfavorable and how many people a credit card holder can add as authorized users. 13:35 Today’s second Money Question: Sean and Liz turn their attention to the complex world of retirement planning. They discuss methods for evaluating whether you've saved enough for retirement, common pitfalls to avoid and why it's key to consult with a fee-only financial planner. The discussion digs deep into critical decisions around Medicare and Social Security and how to manage them effectively, how to ensure your retirement funds last and the impact of inflation on retirement plans. In their conversation, the Nerds discuss: credit card authorized users; credit management; credit profiles; financial planners; retirement planning; Medicare; Social Security; retirement funds; inflation; health insurance; filing bankruptcy; and retirement savings. Please take our listener survey at https://nerdwallet.com/survey to help us improve the show! Survey participants will be automatically entered into our Smart Money Podcast Sweepstakes for a chance to win a $100 Amazon gift card when you complete and submit the survey form. The Sweepstakes period is from June 19, 2023 to August 7, 2023. Limit One (1) Entry per person. No purchase necessary to enter or win. Odds of winning will be determined by the number of eligible entries received. Read the Official Rules for more details. If you enjoyed today’s episode, then please vote for us in the 18th Annual People's Choice Podcast Awards! Register at https://podcastawards.com and find “NerdWallet’s Smart Money Podcast” in the Business category. Voting in other categories is optional. We appreciate it! 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

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“What did the council decide on item 42?” — answered with the speaker and the moment.