mortgage

15 or 30 Year Mortgage?

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A 15 or 30 year mortgage? That's the question facing Ilana and her husband as she says 15 and he says 30. Who's leaning in the right direction?

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

Should I Pay Down the Mortgage?

We’re talking housing as we kick off the latest show!

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We start with Mariana from the Bay Area who is hoping to buy her first house in the near future. What steps should she be taking to make sure she has all her ducks in a row once she finds her dream home?

Next up was Nick, also from the Bay Area, who is wondering if he should accelerate his mortgage payments. This is such a common question and the answer isn’t always as obvious as it might seem.

More emails in hour two. We made a legit dent, and were actually caught up for a bit, but the inbox is once again overflowing. With a show that runs just once a week it’s hard to keep up.

Have a money question? Email me here.

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

Are We on Track for Retirement?

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We start the show this week with Nick from Wisconsin who had a few questions regarding his current mortgage which also led to a discussion about his retirement savings strategy.

Next up was a great retirement planning discussion with Michelle from Georgia. She and her husband are in great shape, sometimes it just helps to hear that from an unbiased third party, like yours truly!

Who's a better financial planner, a man or a woman?

That was the gist of the story when today’s guest, Blair duQuesnay, penned an op-ed in the New York Times.

I’m guessing she didn’t think it would go viral. Welp, it did.

Consider Firing Your Male Broker took off like gangbusters with reaction coming down on both sides of the aisle.

What follows is from Blair’s blog, The Belle Curve, and it explains why exactly there was so much reaction:

Some criticized the use of the term broker, which applies only to registered representatives of brokerage firms, commissioned sales agents. Those of us who work for independent RIA firms are advisers who adhere to a fiduciary standard. That is a different and equally important topic for an NYT op-ed. Maybe they will let me write it. Bottom line, the investing public uses the words broker/advisor/adviser interchangeably. They do not know the difference, and the article met them where they are.

Other criticism revolved around the use of research on investment performance to justify the argument. In my mind, the research was not central to the thesis there should be more women advisors. Barber and Odean found that among individual investors, women outperformed men because the traded less often and incurred less trading costs. That information is fascinating and led to additional work on the affect of overconfidence on investment performance. It is not the sole basis of my argument, merely additional ammunition.

Less than 20% of financial advisors are women, a statistic that has not changed in the 15 years I have been here. It’s about time for more.

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

Will Dovish Federal Reserve Boost Housing?

Will Dovish Federal Reserve Boost Housing?

Last week, the Federal Reserve decided not to raise interest rates. The more dovish Fed outlook pushed down interest rates, which led mortgage rates to 14-month lows. The current 30-year fixed rate loan stands at just under 4.3 percent, just in time for the spring home buying season.

Do I Need a CFP?

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We kicked things off this week with Brad from Missouri who's wondering if he needs to enlist the help of a CFP as he tries to get his financial life in order.

Next up was Risa from Scottsdale, AZ who wanted to know whether or not she and her husband should pay off the mortgage on a piece of rental property they have.

As we've been doing, hour two was devoted to the email inbox.

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

First Time Home Buyer

We start this week talking real estate.

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Buy versus rent is one of my favorite topics. While owning property can certainly make for a great investment, I don’t always think it’s the right move. Sometimes it makes far more financial sense to rent.

That’s the case with our first caller this week, Lamar from New Jersey. Lamar and his wife have already gone down the road of buying a house, and while I certainly hope it works out for them, I don’t necessarily think it was the best. Give it a listen and you’ll hear what I mean.

Yep, you guessed it, hour two is nothing but emails as we continue to dig out from an overflowing inbox.

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

Retirement Planning, ARMs and An Inside Account of the Financial Crisis

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We opened the show with Ben from Houston who wanted to run his retirement plan by us. He’s got a variety of accounts, an adjustable rate mortgage and some college funds for the kids. As you’ll hear, this guy is a risk taker. Is he taking too much risk? What about that mortgage…should he pay it off? Or should he consider refinancing and locking in a long-term rate?

The rest of the hour was spent on emails. The good news is that we’re actually making some serious progress. We’re finally into the month of October. That’s the good news. The bad news is that next week is already November. A good problem to have!

In hour two we get the inside account of the financial crisis from Neil Barofsky, the former Inspector General of TARP (Troubled Asset Relief Program) and author of Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.

As you’ll hear, the discussion is basically a play-by-play of how the Treasury Department bungled the financial bailouts.

At the height of the financial crisis in 2008, Barofsky gave up his job as a prosecutor in the esteemed U.S. Attorney’s Office in New York City, where he had convicted drug kingpins, Wall Street executives, and perpetrators of mortgage fraud, to become the inspector general in charge of overseeing administration of the bailout money.

It’s fascinating to hear him talk about how from the onset, his efforts to protect against fraud and to hold big banks accountable for how they spent taxpayer money were met with outright hostility from Treasury officials in charge of the bailouts.

Barofsky offers an insider’s perspective on the mishandling of the $700 billion TARP bailout fund. There’s no holding back as he reveals the extreme lengths to which our government officials were willing to go in order to serve the interests of Wall Street firms at the expense of the broader public, and at the expense of effective financial reform.

Just like the book, this interview delivered an incredible account of Barofsky’s plunge into the political hot-seat of Washington, as well as a vital revelation of just how captured by Wall Street our political system is and why the too-big-to-fail banks have become even bigger and more dangerous in the wake of the crisis.

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

Save for Retirement or Pay Off Mortgage

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So you just got a raise and are trying to decide if you should put that extra money into the retirement pot or put it toward the mortgage? I love this question. Paying down the debt seems like a no-brainer, right? Take a listen my friends as we walk through it with Nick from the Bay Area.

“Better Off” is sponsored by Betterment.

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

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First Time Home Buyer

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Few things are bigger than buying your first home. That's why you want to make sure you approach it in the right way. That's the chat I had with Mariana on the latest BONUS call. 

“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:

https://twitter.com/jillonmoney

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