Can We Retire?

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We kick things off this week with Richard from New York who is wondering if it makes sense for him to start doing some Roth conversions? By far one of the most frequent questions to hit the inbox.

Next up was Liz from Buffalo who’s wondering if she and her husband have enough saved to call it quits when they hit 65 or so.

The summer travel season is officially upon us which means millions of Americans will be hitting the roads and taking to the skies to enjoy their long awaited vacations. 

Whether you want to hit the beach, blaze a trail off the beaten path or explore one of the major tourist destinations, there’s a smart way to do it. That’s where Seth Kugel, our latest guest, enters the picture.

With many credits under his belt, including the Frugal Traveler columnist for the New York Times, and author of Rediscovering Travel: A Guide for the Globally Curious, Seth is full of tips and suggestions to help you get the most out of your latest travel experience. 

Where to go? Where not to go? Drive, train or fly? From Brazil and Prague to India and Italy, we circle the globe with Seth and provide you with useful tips to easily reach your destination, with a few bucks left in your pocket.

For the tight-belted tourist and the first-class flyer, the eager student and the comfort-seeking retiree, Seth Kugel is all about showing how we too can rediscover the joy of discovery.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Why Generalists Triumph in a Specialized World

Plenty of experts argue that anyone who wants to develop a skill, play an instrument, or lead their field should start early, focus intensely, and rack up as many hours of deliberate practice as possible. If you dabble or delay, you’ll never catch up to the people who got a head start. 

But a closer look at research on the world’s top performers, from professional athletes to Nobel laureates, shows that early specialization is the exception, not the rule.     

Today’s guest, David Epstein, uses his latest book, Range: Why Generalists Triumph in a Specialized World, to examine the world’s most successful athletes, artists, musicians, inventors, forecasters and scientists. He discovered that in most fields, especially those that are complex and unpredictable, generalists, not specialists, are primed to excel. 

Generalists often find their path late, and they juggle many interests rather than focusing on one. They’re also more creative, more agile, and able to make connections their more specialized peers can’t see. 

Range makes a compelling case for actively cultivating inefficiency. Failing a test is the best way to learn. Frequent quitters end up with the most fulfilling careers. The most impactful inventors cross domains rather than deepening their knowledge in a single area. 

As experts silo themselves further while computers master more of the skills once reserved for highly focused humans, people who think broadly and embrace diverse experiences and perspectives will increasingly thrive.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Roth IRA or 403(b)

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Having options is a good thing, especially when it comes to your investments. That's what prompted Lauren from New York City to reach out. Should she be contributing to her 403(b) or her Roth IRA? Or should she be using a regular brokerage account?

Have a money question? Email me here.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

More Market Milestones and Fed Do-Overs

More Market Milestones and Fed Do-Overs

Dow 27K! S&P 500 3K! NASDAQ 8200! Just months after the bull market in stocks and the current expansion each became the longest on record, U.S. equity indexes reached more milestones last week. Sure, the economy is expanding, but you can thank one person for the recent leg up in the bull market rally: Fed Chairman Jerome Powell.

CBS This Morning: Equal Pay Fight

Chants of "equal pay" interrupted a speech by a top soccer official this week as the U.S. women’s national soccer team celebrated their fourth World Cup title. The players are suing over gender and pay discrimination. The players' fight for parity reflects the national battle for equal pay. A recent study shows women make 49 cents for every dollar a man does, over a 15 year period of their careers. I joined CBS This Morning to discuss ways we can start closing the gender wage gap.

Are We in Good Shape for Retirement?

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As is often the case on the show, somebody calls up asking one thing and the discussion turns into a full-blown retirement planning call. That’s what happened with Bill in Illinois who did a great job of saving for retirement, but what about his asset allocation? Is it where it should be?

Millennials want to learn how to start investing. The problem is that most have no idea where to begin. There's a significant lack of information out there catering to the concerns of new millennial investors, such as:

  • Should I invest while paying down student loans?

  • How do I invest in a socially responsible way?

  • What about robo-advisors and apps, are any of them any good?

  • Where can I look online for investment advice?

That’s why we’re happy to have Erin Lowry back on the show to discuss her latest book, Broke Millennial Takes On Investing: A Beginner's Guide to Leveling Up Your Money.

In this second book in the Broke Millennial series, Lowry answers those questions and delivers all of the investment basics in one easy-to-digest package.

Tackling topics ranging from common terminology to how to handle your anxiety to retirement savings and even how to actually buy and sell a stock, this hands-on guide will help any investment newbie become a confident player in the market on their way to building wealth.

Have a money question? Email me here.

Please leave us a rating or review in Apple Podcasts.

Connect with me at these places for all my content:

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Marriage and Money

Our latest guest, Belinda Luscombe, would rather have had her eyes put out than read a book about marriage; they all seemed full of advice that was obvious, useless, or bad. Plus they were boring. 

But after covering the relationship beat for Time magazine for ten years, she realized there was a surprisingly upbeat and little-known story to tell about the benefits of staying together for the long haul. Hence her recently released book, Marriageology: The Art and Science of Staying Together.

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Casting a witty, candid, and probing eye on the latest behavioral science, Luscombe has written a fresh and persuasive report on the state of our unions, how they’ve changed from those of our parents’ era, and what those changes mean for the happiness of this most intimate and important of our relationships.

In Marriageology Luscombe examines the six major fault lines that can fracture contemporary marriages, also known as the F-words: familiarity, fighting, finances, family, fooling around, and finding help. 

She presents facts, debunks myths, and provides a fascinating mix of research, anecdotes, and wisdom from a wide range of approaches, from how properly dividing up chores can result in a better sex life to the benefits of fighting with your spouse to whether or not to tell your partner that you lost $70,000. (The last one is from firsthand experience.)

Marriageology offers simple, actionable, maybe even borderline fun techniques and tips to try, whether the relationship in question is about to conk out or just needs a little grease and an oil change. The best news of all is that sticking together is easier than it looks.

Have a money question? Email me here.

Please leave us a rating or review in Apple Podcasts.

Connect with me at these places for all my content:

https://www.jillonmoney.com/
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https://apple.co/2pmVi50

"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

CBS This Morning: Student Loan Scams

In this week's Eye On Money, we are focusing on the growing number of student loan scams. As many families deal with college financing this summer, the Better Business Bureau reports an increase in fraudulent texts, emails and voicemails about loans. I joined CBS This Morning with what families need to know to avoid these scams.