saving for retirement

Should I Pay Off the Car Loan Early?

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We start the show this week with Devin from Pittsburgh who is wondering if it makes sense for him to use some of his cash savings to pay off his car loan. Sounds like a no brainer, right?

Next up was Katie from Omaha, who’s wants to start increasing her retirement savings, but isn’t sure which is the best vehicle to use. A deferred comp option? Backdoor Roth? Or a plain old brokerage account?

The email purge continues in hour two. We’re making a pretty good dent and hope to be caught by early September.

Have a money question? Email me here.

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

How to Save for Retirement

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I love getting calls from young listeners who are already thinking in terms of retirement. That's the case with Chris from Texas, who wanted to run his game plan by us. Is there anything that he and his wife should be doing differently as they invest for their future? 

Have a money question? Email me here.

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

How to Invest Surplus Cash

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Due to a variety of IRS rules and regulations, it's not always possible to max out your workplace retirement plan, even if you have the cashflow to do it. That's what happened to Joe from Texas. So what should you do in such a situation? Here's a hint...all is not lost! 

Have a money question? Email me here.

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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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Do I Need a Financial Planner?

Retirement is approaching, and so far you've done a great job of planning for it on your own. Do you need to hire a financial planner or can you keep going solo? That's what Michelle was wondering 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.

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

Private Mortgage Insurance (PMI) and Refinancing

Rising home prices has helped many homeowners get richer on paper...they have also prompted a big influx of questions about private mortgage insurance (PMI) and refinancing, so we figured it was time to bring on an expert.

Nicole Hamilton, a tech executive-turned-mortgage and homeownership expert, founded Tactile Finance, the first digital tools that let people visualize their homeownership outcomes over time, putting consumers on a level playing field with the professionals who serve them.

Nicole is also the author of the book Avoid the Money Pit, Turn Your Home into a Financial Powerhouse, and the founder of Homeownering.com, a company that provides unbiased, independent information for homeowners to get the best financial outcome possible.

We touched on a variety of topics and questions facing the average consumer as they try to navigate the murky waters of homeownership:

  • What if I don’t have 20% for a downpayment?
  • What is PMI?
  • How do I know if I need PMI?
  • Should PMI be a dealbreaker?
  • Will PMI eventually go away?
  • Will PMI go away on its own or is it my responsibility?
  • Is refinancing always a good idea?
  • Pros and cons of an adjustable rate mortgage (ARM)
  • Should I prepay my mortgage?

All those topics and more! And based on what we’ve been seeing in the inbox, I think we did a pretty good job covering all your burning questions!

So when you’re checking out those open houses this summer, or considering a refi before rates go even higher, playback this episode and you’ll be well armed with loads of information.

“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.

Amazing Retirement Saver + Financial Regulation

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Amazing call this week from Leith in North Carolina to start the show. He will definitely be included in the top three callers of 2018. This guy has done an amazing job of planning for retirement. Anybody could see that. Yet he still has doubts. This was a fascinating call with a little bit of everything mixed in. 

As the Consumer Financial Protection Bureau (CFPB) is defanged and the Department of Labor rolls back rules that would require retirement professionals to put the best interests or customers first, it’s easy to feel like nobody has our backs.

The good news is that individual states are coming to the rescue when it comes to financial regulation and protecting consumers. In my hour two conversation with Maria Vullo, the Superintendent of Financial Services for the State of New York (DFS), you will learn how Vullo and her department attempt to regulate a wide swath of industries.

DFS has a lofty mission: “To reform the regulation of financial services in New York to keep pace with the rapid and dynamic evolution of these industries, to guard against financial crises and to protect consumers and markets from fraud.” Here’s what Vullo and her team are attempting to do on a daily basis:

  • Eliminate financial fraud, other criminal abuse and unethical conduct in the industry
  • Educate and protect users of financial products and services and ensure that users are provided with timely and understandable information to make responsible decisions about financial products and services
  • Ensure the continued solvency, safety, soundness and prudent conduct of the providers of financial products and services
  • Protect users of financial products and services from financially impaired or insolvent providers of such services
  • Encourage high standards of honesty, transparency, fair business practices and public responsibility

Over the course of her distinguished career, Vullo’s specific legal experience has included litigations and investigations involving the financial services sectors and fraud, real estate, health care, insurance, tax, consumer protection, bankruptcy, antitrust, and constitutional law. She has argued before the U.S. Supreme Court, the U.S. Courts of Appeals for the Second, Ninth, and Tenth Circuits, and the New York State Appellate Division.

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.