enRICHed: volume 117

galentines & valentines

Feb 16, 2025

Volume 117

Hey besties!

It’s time we get up close and (more) personal! For those of you who don’t keep up with my IG stories, I recently froze my eggs. It was a super intensive and eye opening process, in terms of both what it takes medically but also what it takes financially. This is why I brought my very own doctor, Dr. Nicole Yoder on my podcast this week! We chatted through the whole egg freezing process, implications for IVF and what it actually cost to make your dream family a reality. I share exactly what my process cost, what procedures I had done, how many eggs I ended up retrieving, and how many of those turned into embryos! From medical tourism to advocating for fertility benefits, Dr. Yoder brought her A+ game to Networth and Chill! You can watch us chat HERE or listen HERE! New episodes of the podcast drop every single Wednesday so be sure to subscribe to my YouTube channel HERE or follow Networth and Chill wherever you get your podcasts!

Plus, keep up with the podcast on Instagram and TikTok!

As a reminder:

HYCU, pronounced haiku: how the news impacts you and your wallet, aka How You Can Use
The Prosperitea: think discount codes, non-boring finance articles, sales, and personal links from the week. The fun stuff 😉
We love your comments, but please remember to keep it positive! And don’t take investing advice from anyone who isn’t your registered financial advisor!

Now that you’re up to speed, let’s get you enRICHed.

Department Of No Education 📚🎓

Some of the biggest news out of the White House this week has been around the Department of Education (DOE), which the Trump administration has promised to eliminate. Elon Musk and the Department of Government Efficiency (DOGE) have been tearing through the agency, cutting contracts, staff and grants.
The Trump administration has been pretty open about wanting to shut down the department, saying they want to turn responsibility to the states. Elon Musk has even said openly that he wants to “delete entire agencies.” The thing is, state governments already have significant control over education, especially around things like setting standards and curriculum—so this department shutdown would basically get rid of a lot of infrastructure that’s focused on supporting low-income students and public schools that might be underfunded (read: lower-income areas).
It would mostly affect programs that students rely on to pay for college, like Pell Grants and work-study programs. So, if this is you, and Congress does approve this closure, your money will be going away.
The DOE also provides a lot of direct funding to colleges that enroll a high number of low-income students, as well as Historically Black Colleges and Universities (HBCUs), tribal colleges and universities, and small schools with limited resources, so it’s possible that if you attend one of those schools, you may have less resources to choose from.
HYCU; The government hasn’t commented on if the closure will also impact your student loans, so for now, operate under the assumption that you will still have to pay your debt. All of this will effectively benefit rich people who are already in the for-profit education system, and the people who will hurt the worst will most definitely be people with less money. I know, I know—I wish had better news, but we will be keeping tabs on this and sharing any strategies to combat issues if the department does get eliminated.

I Love You More Than Cocoa Beans 🍫🍩

The world is having the worst cocoa shortage in 60 years due to climate change-induced freak weather incidents—which means that cocoa beans are more expensive than ever, and chocolate makers have been forced to raise their own prices.
In the sweet treat industry, bakeries and other companies that don't need to use chocolate are focusing more on other flavors—manufacturers are pushing shoppers toward gummies or other types of candy. KitKat launched cinnamon toast and Neapolitan flavors over the last few months without chocolate dip.
There’s hope for the market to correct itself yet! Higher prices means more money for farmers in West Africa to take and invest in their farms, whether it’s growing younger trees or fortifying older ones to make the supply more sustainable.
HYCU; Despite it all, you just can’t tear people away from their chocolate: sales are still rising, despite higher prices, according to NPR. It’s just that good! But all these supply-side challenges means that your Valentine’s Day chocolates were likely pricier, which is a real test of love for anyone buying a chocolate treat for their loved ones. Pro-tip that any singleton knows: Right now (the few days after V-Day) are the best time to score discounted candies and chocolates that have Valentine’s Day branding on them (aka can’t be sold later down the line)!

Goodbye, Penny 👋

Everyone knows that it costs more than a penny to make a penny, so this week, President Trump issued an order to stop minting them entirely.
Is it going to happen right away? No. The president doesn't have the authority to start or stop the production of any form of money. That power lies with Congress, so it would need approval first, but given that this has been talked about for years, it’s more than possible that the penny is going the way of the dodo.
It costs more than three cents to make a cent, and almost three nickels to make a nickel. Some critics of the plan are worried that it would encourage production of the more-expensive nickel and accelerate the overall financial loss (for now, dimes, quarters, and paper bills all cost less to produce than they are worth, so it’s not like it would start a never-ending chain of reactions).
HYCU; People have talked about this for years, to be fair. I mean, who’s pulling out a bag of pennies anymore when you can just pay with a tap of your phone? But if this does go through, you may want to save one to have as a historical relic. As for the rest of your change purse, I’d encourage everyone to avoid Coinstar machines, as they take a MONSTROUS 12.90% processing fee. If you want to actually swap out or spend your loose change, big box retailers often allow you to dump up to $10-15 dollars worth of change into their self checkouts. It’ll take a second, so try to go during an off-peak time so you don’t get angry glares from people behind you in line, but swapping your change out this way will help you keep more in your pocket.

Tariff Check-In 💰🌎

I feel like I’m living in the Twilight Zone, where we’re just living the same day over and over again…but President Trump has continued his crusade on implementing even more reciprocal tariffs for imported goods.
Earlier this week, he announced a 25% tariff on all imported steel and aluminium, ending exemptions from the rules for goods from major trade partners like Canada, Mexico, Brazil, and the European Union. It will be enforced next month, although tariffs on Colombia, Canada and Mexico have all been repeatedly delayed so far.
Still, Trump acknowledged that Americans could face “some short-term disturbance” if the US imposes higher tariffs on foreign goods.
HYCU; At first glance, you might be wondering what an aluminium tariff has to do with your everyday purchases, but this is going to affect all of our wallets. Coca-Cola announced that in light of the tariff they will be forced to switch to selling more plastic bottle sodas instead of the traditional can (which sucks, because we all know Diet Coke from a can is far superior to the bottle, and if you disagree, argue with a wall). Cars, construction, housing and appliances will also probably get more expensive.

Sonali asks, “Hello Vivian, I am currently considering changing jobs and how do I transfer my 401K to the next company so that I do not lose that money as a result of job transfer?”

Hi Sonali! Transferring your 401(k) when you change jobs is super important to keep your retirement savings intact. Here’s how it typically works…

When you leave a job, you generally have a few options for your 401(k):

1. Leave it with your old employer: This is usually not recommended, especially since your employer will likely stop paying the account fees & you might lose track of it later.

2. Roll it over to your new employer’s 401(k): If your new employer offers a 401(k) plan, you can transfer your old 401(k) funds into the new plan. This is a great way to keep everything consolidated, the only call out here is - depending on the new plan administrator, you may like this new platform more or less. Additionally, with a 401(k) your investment options are limited to what your employer selects in terms of funds.

3. Roll it over to an Individual Retirement Account (IRA): This option gives you the most control over your investments and often lower fees. It’s a pretty simple process, though there may be some phone calls and holding on the phone with customer service. Alternatively, you can check out Capitalize! They can roll over your 401(k) FOR FREE, and they’ll do all the customer service holding for you! They get paid by the IRA providers, so it’s at no cost to you.

Here’s something most people don’t realize: If you choose to roll over your 401(k), you should do it promptly to avoid taxes and penalties. Many people forget that leaving their funds with a former employer could lead to lost retirement savings, as about 20% of 401(k)s are abandoned or forgotten.

This matters because maintaining control over your retirement funds can significantly impact your financial future. If you roll over to an IRA or even your new 401(k), you can continue to grow your investments without interruption.

One thing to think about is whether you want to simplify your retirement savings by consolidating everything into one account or if you’d prefer the investment options that an IRA might provide.

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Rich Tip of the Week: Tax season is coming... here's how they ACTUALLY work
Kendrick Lamar’s Super Bowl halftime performance was for people who know how tariffs work—I loved this review of it in Slate.
Trader Joe’s and Costco are putting purchase limits on eggs, which feels very 2020.
The 50th anniversary of SNL is upon us. Comedy fans rejoice.

SEE YOU IN THE COMMENTS BESTIES