advisor

Finding an Advisor and the Zero Tax Bracket

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We’re kicking things off this weekend with David from Kentucky who is trying to evaluate the services he has been receiving from a major investment firm. Is he better off meeting with a fee only planner?

Next was Dianne from Connecticut who is trying to narrow down some options regarding her pension from the State of New York.

Let’s be honest...nobody likes paying Uncle Sam. I mean come on, who really wants to pay a big, fat tax bill?

That’s why you always hear me preaching about the power of Roth accounts. In a perfect world, we’d all be able to find a way into the 0% tax bracket.

While that’s unlikely, there are people out there trying to make it possible.

Today’s guest in hour two, David McKnight, has long warned that taxes in the future are likely to be dramatically higher than they are today. Given that, we need to dramatically change the way we approach retirement.

In his latest book, The Power of Zero: How to Get to the 0% Tax Bracket and Transform Your Retirement, McKnight aims to provides you with a road map of how to get to the 0% tax bracket, virtually eliminating the tax risk, which, if not addressed, will easily consume a solid portion of your retirement savings.

Unfortunately, if you’re like most Americans, you’ve saved the majority of your retirement assets in tax-deferred vehicles like 401(k)s and IRAs. If tax rates go up, how much of your hard-earned money will you really get to keep?

In The Power of Zero, David McKnight provides you with a step by step roadmap on how you can get to the 0% tax bracket, effectively eliminating tax rate risk from your retirement picture.

Why is the 0% tax bracket so powerful? Because if tax rates double, two times zero is still zero! The day of reckoning could be fast approaching. Are you ready to do what it takes to experience the power of zero?

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

How to Find an Advisor

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Finding a financial advisor is never easy. It's hard to find somebody you feel totally comfortable with, especially when it comes to your finances. That's what we're discussing on the latest bonus call with Frances from New England.

Have a money question? Email us here or call 855-411-JILL.

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Is My Advisor Charging Too Much?

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Another great call this week to kickoff the show as we chatted with Cathy from Pennsylvania. Cathy is in great shape for retirement, but she has a sneaky suspicion that her advisor is charging her too much. Is he? Or is he charging a fair price? 

We wrapped up hour one with the great email purge of 2018. I think at this point we're finally into May. 

It’s hard to imagine how an argument between a couple of billionaires could make for a compelling story. But when it happens on live television, and it involves two major Wall Street heavyweights, it’s like watching a trainwreck that you just can’t pull yourself away from.

And that’s exactly what happened in 2013, when Wall Street titans Carl Icahn and Bill Ackman got into a legendary verbal battle on CNBC that centered around Herbalife, the company caught in the middle.  

The host that day was Scott Wapner who unexpectedly found himself refereeing this 30 minute segment that became known as “The Brawl.”

It left such a mark on Wapner that he felt compelled to explore the roots of the battle by writing When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle.

This recently released compelling read recounts the story of the clash of these two titans over Herbalife, a nutritional supplement company whose business model Ackman questioned. Icahn decided to vouch for them, and the dispute became a years-long feud, complete with secret backroom deals, public accusations, billions of dollars in stock trades, and one dramatic insult war on live television.

In researching the book, Wapner gained unprecedented access to all the players and unravels this remarkable war of egos, showing the extreme measures the participants were willing to take.

It’s a classic Wall Street tale of money, power, pride and greed.

Have a money question? Email me here or call 855-411-JILL.

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

BONUS call: Is Our Advisor Screwing Us?

Okay, so here's the scenario...you're pretty certain your mom is getting screwed by her advisor...yet she doesn't want to hear your concerns. What do you do? How do you have the talk? Can she be convinced? That's the dilemma facing Diane from Indiana on the latest BONUS call.

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“Better Off” is sponsored by Betterment.

Have a money question? Email us here or call 855-411-JILL.

We love feedback so please subscribe and leave us a rating or review in Apple Podcasts!

Connect with me at these places for all my content:

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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

Inheritance, Retirement Planning, How to Find an Advisor, Investing Extra Money

Another week of calls and emails as we try to clear out the inbox. So far we've barely made a dent.

This week we started the show with Shane from Iowa who recently inherited $500,000 and is looking for some input as to how he should invest it with the goal of early retirement in mind.

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Next up was Alison from Ohio, an awesome saver who only makes $40,000. Just goes to show you that you don't need to make a ton to save a ton. With a little extra to invest, she's wondering what else she should be doing. 

The final call of the first hour came from Jesse in Missouri. Jesse has a 401(k) plan from a former employer and is wondering what he should do with it. Keep it where it is? Or rollover into something else? 

We kicked off hour two with Aaron from North Carolina. As a recent grad with a new job, and making more money than ever, what should he be doing to prepare for retirement down the road?  

Next was Kelly from Virginia who has about $60,000 sitting in a savings account and CDs. Is there a better alternative?  

The final call of hour two was from Marilyn in New York who is having a hard time finding a trustworthy advisor she can work with. Such a great call!  

Have a money question? Email us here or call 855-411-JILL.

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

10 Questions to Ask a Financial Professional

10 Questions to Ask a Financial Professional

My Ten Questions to Ask a Financial Pro:

Better Off BONUS call 041 - Financial Advisor

Today on the BONUS call we're discussing my favorite topic of annuities with Roland who has a sneaking suspicion that his financial advisor may not be steering him in the right direction.

“Better Off” is sponsored by Betterment.

Have a finance related question? Email us here or call 855-411-JILL.

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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

#302 Year-end Financial Planning Tips

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Here's a little secret I'll let you in on...this show, #302, is the last "new" show of 2016.  The following two weekends will be Christmas and New Year's...and I've got news for ya...Mark and I won't be working!  So, as the year comes to an end, it's a perfect time to review some year-end financial planning tips.

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For such an occasion there's no one better than Michael Goodman, founder and president of Wealthstream Advisors.  Not only is Michael a dear friend of mine, he's also my advisor.  There's my full disclosure :)

Michael and I discussed a variety of financial planning topics to ponder before you shut down for the holidays:

  • Selling assets in your portfolio now versus waiting until next year
  • Gifting to charities and family members
  • Contributing to traditional and Roth IRAs (and conversions)
  • Making last minute 529 plan contributions
  • Considering how tax changes could affect you

And Michael has one crucial piece of advice regarding your long-term financial plan.  Come on now, it's not that easy, you're gonna have to listen to the interview for that one!

That's it, that's our last "new" show of 2016...hope you enjoyed it!  We'll whip up some good stuff for you guys over the next couple weekends...stay tuned!

Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 

#301 In Praise of Passive Investing

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Last week it was a listener turned finance coach as a guest...this week it's a former professional basketball player turned passive investing evangelizer, as our guest.

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Before becoming a big shot in the investment world, Dave Butler was draining big shots on the basketball court at Cal and was even drafted by the Boston Celtics.  Despite being drafted by an NBA team, Dave decided to take him game overseas, playing for a few years in Turkey and Japan.

After his playing days were over, Dave went back to California, earned an MBA from Cal at the Haas School of Business and ultimately joined Dimensional Fund Advisors (DFA). To the average person, Dimensional may sound like just another investment firm.  But it's not.  It's different.  DFA's goal from day one has been to redefine investment advice, by adhering to the passive approach.  Instead of relying on forecasting or falling prey to the vast amount of "investment pornography", Dimensional draws information about expected returns from the market itself, letting the collective knowledge of its millions of buyers and sellers set security prices. Dave advises us to focus on low costs, diversification, tax efficiency, transaction efficiency, rather than trying to beat the market.

During Dave's time at Dimensional, assets under management for financial advisors have grown from $2 billion to approximately $250 billion, so it's probably worth listening to this one time Rhodes Scholar candidate.

Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE