enRICHed: volume 148
the summer i turned rich af
Sunday September 21, 2025
Volume 148
Hey besties!
You all know how much I like to get to the bottom of financial mysteries, and learn about how different people in the business world make their money. Coupled with my love of seeing my online BFFs in person, I am thrilled to share that Networth and Chill will be LIVE in NYC on October 8! I’ll be chatting with my special guest, Jennifer Hyman, the CEO and Co-Founder of Rent the Runway! If you’d like to come in-person to see the live interview, tickets can be purchased here!! I SO hope you can make it, and to my besties in other states, stay tuned — there will be more live events to come in the near future ;)
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.
The Rate Cuts Are Coming! 🔔🐎
The Federal Reserve finally gave interest rates a little trim, announcing that they would lower benchmark rates by 0.25 percentage points this week.
Basically, the Fed has been dealing with a two-fold problem: a freezing job market, and rising inflation (read: things are more expensive but people don’t have money). Usually, the Fed tries to tame inflation by nudging up interest rates to slow economic growth, while cutting rates in periods when the economy is faltering to encourage consumer spending and business investment.
It’s basically the first cut they’ve made since December 2024, so reading between the lines, this move kind of signals that they’re deciding that the job market is a bigger issue right now than the cost of stuff, because they’re trying to encourage you to buy stuff.
This move also comes after much pressure from the Trump administration trying to push for dramatic cuts (since it’ll make them look good) and a recent attempt to oust Fed governor Lisa Cook, where they tried to claim she was committing fraud by having a vacation home. For the petty people keeping score, she still remains.
HYCU; Lower rates generally means good news for borrowers and sad news for savers: credit card APRs, mortgage rates, auto loans and private student loans will probably get a trim on interest (unless you already have a fixed-rate interest, which won’t change). You probably won’t feel these things immediately, but they’ll probably kick in around 2026, so if you were planning on buying a house, car or taking out student loans, better deals are on the horizon. For savers, though, it means that yields on high-interest savings accounts and CDs will probably drop a bit. Keep in mind, this also may not be the last cut they make — Federal Reserve officials are also allegedly planning two more rate cuts in 2025, and only one in 2026, according to the central bank's summary of economic projections. More of a video learner? See me break it down here.
Jimmy Kimmel, Not Live 📺💔
By now, you’ve probably already seen the buzz, but there’s been huge news coming out of showbiz this week: ABC announced on Wednesday evening that it was pulling Jimmy Kimmel’s late night show “indefinitely” after the comedian made a joke about the man who killed popular alt-right commentator Charlie Kirk.
In case you missed what happened, Kimmel did a regular monologue on-air where he talked about the shooting, saying: “We hit some new lows over the weekend, with the MAGA gang desperately trying to characterize this kid who murdered Charlie Kirk as anything other than one of them […] on a human level, you can see how hard the president is taking this,” before showing a video clip of a reporter offering their condolences and asking how President Trump is “holding up,” to which he replies, “I think very good, and by the way, over there, you see all the trucks, they just started construction for the ballroom of the White House.” Kimmel joked, “this is not how an adult grieves the murder of someone he called a friend, this is how a four-year-old mourns a goldfish.”
Federal Communications Commission Chair Brendan Carr did not like this — he hopped up on a podcast to trash Kimmel, saying he was “going to have remedies that we can look at.” Kimmel was going to respond to those comments this week, but out of nowhere, Walt Disney Company (which owns ABC) CEO Bob Iger and TV chief Dana Walden suspended the show indefinitely.
As for the fallout, President Trump posted on Truth Social that they should go after Seth Meyers and Jimmy Fallon next, Democratic leaders have thrashed the Trump administration for the move, David Letterman called it “ridiculous,” and #FreeJimmyKimmel is now trending. And this is where we currently stand.
HYCU; The impact of this may just feel like another late-night show is coming to an abrupt end (we already lost Stephen Colbert this year), but the reason that there is so much noise around all of this is because government bodies historically do not interfere with comedians because satire is protected under the First Amendment (free speech), and a government that does censor artists in the countries are widely considered authoritarian regimes(the Nazi era, the Soviet Union, and the North Korean government today), so it makes sense that people are outraged about this and fear what might come next. If you want to support free and unbiased information, it’s more important than ever to support journalists and critics who are working to bring smart news and analysis.
In The Queue… 🎟️😰
The FTC has officially sued Ticketmaster and Live Nation Entertainment over what it called “illegal” ticket resale tactics.
In the filing, the FTC wrote that the companies “tacitly worked” with scalpers, allowing them to “unlawfully purchase” tickets to increase their profits. They’re also saying that the company engages in a “bait and switch approach,” meaning they post ticket prices at deceptively low prices and then jack it up by 30% or more during checkout with additional fees (which, let’s be real, we have all experienced before).
If you’ve been following along, you’ll know that this is part of a bigger government push to crack down on price gouging by monopolies: the Department of Justice filed an antitrust lawsuit last year to break up Ticketmaster and Live Nation, citing concerns that an illegal monopoly over ticketing, promotion, venue ownership and management could drive up ticket prices.
HYCU; If you were just in line fighting for your life over Ariana Grande tour tickets, or suffered deep wounds from the Eras tour queue, this is huge, exciting news. If the FTC wins this lawsuit, this could mean the end of additional random ticket fees and exorbitantly high resell ticket prices. People that are old and gray like me remember a time when concert tickets cost $25, and you could show up wearing whatever — not like this huge uphill battle that it is now. Those days could maybe even return, as long as the government keeps fighting the good fight. Let the kids see Ariana Grande!
Heather asks, “Advice for preparing retirement accounts for a move to another country outside the U.S.?”
Hey Heather! Fabulous question! While I’m going to do my best to give you a succinct answer, you should definitely consider consulting a Certified Financial Planner who specializes in expat finances. They can help you navigate your unique situation, including investment strategies and tax implications for the specific country you may be moving to, whereas I can only provide broad guidance.
Here are some things I’d think about:
Consider the Tax Implications: As a U.S. citizen, you’re still required to file taxes on your worldwide income. While you must file, you may not owe any U.S. taxes by using special provisions that are designed to prevent double taxation. That said, it’s crucial to understand how your retirement accounts will be taxed both in the U.S. and in your new country. Check for any tax treaties between the U.S. and your destination. These treaties can sometimes offer benefits like reduced tax rates on retirement distributions.
Evaluate Your Retirement Accounts
401(k) Plan Options:
Keep it: You can leave your 401(k) with your employer, but check on fees and investment options.
Roll it over: Consider rolling it into an IRA for potentially more flexibility and investment choices.
Cash it out: This option may come with significant tax implications and penalties, so it’s usually a last resort.
IRAs: You can generally keep your IRA open while living abroad, but be aware of how contributions and withdrawals might be taxed in your new country.
Currency Considerations: If you plan to withdraw funds while living abroad, think about how currency exchange rates will impact your withdrawals. It’s often beneficial to have some funds in the local currency to avoid unnecessary conversion fees. Also think through the cost of living in your new country. Moving from the US to a country in South East Asia allows you to go from a HCOL area to a LCOL area, but moving from the US to say Italy, puts you into a similar COL area. This will help you determine the withdrawal cadence you’ll need to enact to support your life in this new country.
Healthcare and Retirement: Investigate healthcare options in your new country, as this can significantly affect your retirement budget. Some countries offer excellent public healthcare, while others may require private insurance. More often than not, healthcare can be the LARGEST expense folks have in retirement so definitely good to figure out how much this will likely cost you on a monthly basis.
Social Security Benefits: Understand how living abroad may affect your Social Security benefits. The Social Security Administration has guidelines for receiving benefits while living in another country. You can learn more about that HERE!
Legal Considerations: Look into the legal aspects of moving your retirement funds, including any restrictions or requirements in your new country regarding foreign retirement accounts. I’d also make it a priority to keep an eye on any changes in tax laws or regulations that may impact your retirement accounts as you prepare for your move. As I’m sure you’ve seen, lots of changes have happened over the past year or so and I wouldn’t be surprised if this administration made further unprecedented changes.
Long-Term Planning: Reflect on your long-term financial goals and how living abroad fits into those plans. Is this a forever decision? Or just for 5-10 years? Will you eventually want to move back to the US to be closer to family/friends? Consider how your retirement lifestyle may change and what that means for your financial strategy.
For a situation this specific, consulting with a Certified Financial Planner can provide personalized guidance tailored to your unique circumstances. Hope this helps!
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SEE YOU IN THE COMMENTS BESTIES