The true definition of a recession is technically two back-to back quarters of gross domestic product contraction. In our last episode, we settled on “recession-ish” because, while there was a contraction of the economy, other inputs, like jobs numbers, are still strong. Jean Chatzky and Soledad O’Brien are joined by William Lee, chief economist with the Milken Institute, to discuss what’s really going on and how a white-collar recession could differ from a blue-collar recession. And it’s that time of year when parents are sending their kids off to college, maybe for the first time. Erin Smith, director of estate planning at Edelman Financial Engines, walks Jean and Soledad through what you shouldn’t forget to send with your kids to college.

This show is pre-recorded, and any callers are prescreened.

Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and therefore have an incentive to endorse Edelman Financial Engines and its planners.  That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses.  The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show).

Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.

Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.

Edelman Financial Engines estate planning specialists cannot provide guidance on service-related items, help with account paperwork or give guidance on custodian processes.