editor's note
Bye-forever to the week we learned that record-breaker Caitlin Clark will make 0.76% of her NBA counterpart's salary — while weathering icky press conference comments that, let’s be honest, no reporter would make to Wemby. But before you slam that laptop shut until Monday, we have a quick update: Today is the last Friday edition of the Skimm Money newsletter. You can still find us in your inbox every Monday sharing the career and money tips and expert advice you expect — plus, there’s even more to come.
— the Skimm Money team
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We asked you to vote on a question you'd like answered. The winner was:
How do I know which is right for me: a trust or a will?
FEATURED EXPERT:
Lazetta Rainey Braxton
Certified financial planner
Keep in mind that a will might go through probate [aka through the courts]. Therefore, your information will be public, which is why a lot of people like the privacy of a trust. A trust also allows you to be more detailed with your wishes. If you have more sophisticated desires, a trust may be more applicable as well. If you have a less complex situation, you can transfer your wealth by beneficiary designation, which is a much simpler process. But it can still be worth working with someone and getting a personalized experience.
If you can’t afford that, then get your documents set in place, and make sure that your questionnaire addresses all your concerns. Imagine yourself incapacitated and paint that scenario in your mind. I know that’s tough, but you've got to do it because your documents are a reflection of what you envision. And if you have a hard time envisioning it, then your documents are not going to satisfy the vision that may transpire.
This interview has been edited and condensed for clarity. You can read an extended version here.
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money win
An inside look at how women are building wealth.
“I finally reached my savings goal of $20,000 after separating my funds from my financially irresponsible partner. Big success for a past teen mom!”
— Jordyn K. (MN). Don’t feel like your partner is the best with $$$? Schedule a money date.
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
action items
How to win at work, according to successful women.
With two World Cups and an Olympic bronze medal to her name, Kaylyn Kyle, a former midfielder for Canada's women's national soccer team and the National Women’s Soccer League, is an impressive player. In 2017, she retired from the pitch and pivoted to broadcasting, and today she’s a presenter and analyst for MLS Season Pass on Apple TV. Turns out, the lessons of tenacity, hustle, and making every moment count are key to success on the sidelines, too. Here, the Olympian shares how to rise to any challenge.
Advice for what to do when you…
Want to ask for a raise...
Are assigned a project or task you're afraid you can't do...
You must let go of fear. Trust in yourself.
Fail...
Our greatest challenges present the most opportunity.
Need to focus...
Push through. No one can stop you from reaching your goals.
Want a confidence boost...
There is no limit to what you can accomplish.
Have imposter syndrome...
You make it happen. The best motivation comes from within.
This interview has been edited and condensed for clarity. You can read an extended version here.
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