Jill on Money with Jill Schlesinger

Latest Episodes:

Leadership Skills with Retired Admiral William H. McRaven Apr 13, 2017

Show notes

By now you know that on the Better Off podcast we talk about more than just the nuts and bolts of investments and economics. Our mission is to help you take control of your financial life, and that includes helping you better yourself, invest in yourself, and ultimately, become an all around better off individual. One of the amazing byproducts of leaving a full time career in investment management and entering the news business is that I now meet (and have the privilege to interview) a wide range of incredibly smart people. While at times I can take that for granted, every once in awhile, I host a guest who helps me realize just how lucky I have it. That’s what happened when Retired Admiral William “Bill” McRaven walked into the studio last week and talked to me for about 45 minutes. It happened to be the day after the U.S. had launched airstrikes against Syria, which made the visit timely. If Bill’s name sounds familiar, it’s because he presided over the 2011 Navy SEAL raid that resulted in the killing of Osama bin Laden in Pakistan. Bill was the man who identified the body when it was flown back to Afghanistan and told President Obama that the U.S. finally had their guy. A few years later in 2014, the four-star admiral and 37-year Navy SEAL veteran delivered the commencement speech at his alma mater, the University of Texas at Austin (Hook ‘em Horns!). Little did McRaven know that his address, which spoke to how students could overcome challenges and change themselves, would become a viral hit with nearly 25 million views online. In January, 2015 Bill became the Chancellor of the entire University of Texas system and was encouraged to expand his commencement speech into a book, Make Your Bed: Little Things That Can Change Your Life...And Maybe the World. The ten fundamental life lessons McRaven learned in Navy Seal training resonate with all of us, but these are three of my favorite: -If you want to change the world, start off by making your bed -If you want to change the world, find someone to help you paddle -If you want to change the world, you must be your very best in the darkest moment We love feedback so please leave us a rating or review in iTunes. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/.

BONUS call: Investing and Taxes Apr 11, 2017

Show notes

We like to keep investing as simple as possible on the Better Off podcast. It's really not rocket science...in many ways, less truly is more. However, one tricky thing that can be confusing and one thing that you really need to keep an eye on is the tax implications of your various investments. That's what Brandon from San Antonio was struggling with. We're pretty sure we helped him out on the latest BONUS call of the week. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating in iTunes. Have a question? Email us at askjill@betteroffpodcast.com.

Financial Aid and Student Loans with Kelly Peeler Apr 06, 2017

Show notes

One of the goals of the Better Off podcast is to make the daunting seem doable. And there is no more daunting topic than college. From saving for it, going through the selection process and the heavy lifting of paying for it (whether out of pocket or through financial aid and student loans), the whole subject produces anxiety for students and their families. But it doesn’t have to be that way, according to our guest Kelly Peeler, founder and CEO of NextGenVest, a free text message service to help students navigate the college selection and financial aid and student loan processes. It’s the busy time of year for Kelly and her team, as college acceptances are rolling in and families are trying to figure what to do with all the various forms. And those forms are KEY. Can you believe that more than $2.7 billion dollars, yes billion with a B, of unclaimed financial aid money is left on the table every single year primarily because people don’t fill out the FAFSA form. That blows my mind. By using NextGenVest, students and their families are connected with Money Mentors who will help coach them through the process and also provide key financial aid deadline reminders, form annotations, and on-demand help via text message to get more financial aid in high school and beyond. Mentors will also answer questions such as: -How do I find scholarships I can actually apply to? -Am I filling out the right FAFSA forms? -Am I allowed to negotiate my college tuition? -Is working during college a good idea? -Can I still get scholarships even if I don’t have great grades? Aside from discussing the dreaded but necessary forms, we also talked to Kelly about the student loan bubble and why she feels it could be the next financial crisis. If you enjoyed the episode please let us know by leaving a rating or review in iTunes. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/.

BONUS call: Early Retirement Apr 04, 2017

Show notes

Are you retired? Retiring soon? Perhaps are younger and wondering if you'll have enough money when the time comes? That's what the latest BONUS call with Alison from California is all about. Alison is only in her 50s but already decided to call it quits and is now wondering if she made a mistake. Considering life expectancy is much longer these days, especially for women, she has many, many years to plan for. Let us know what you think with a comment and rating in iTunes! Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Have a question? Email us at askjill@betteroffpodcast.com.

Taking Charge of Your Career with Nicole Lapin Mar 30, 2017

Show notes

When you hear my unabashed enthusiasm and connection with today’s guest, Nicole Lapin, I think you will understand why we hit it off so quickly. Nicole, already an accomplished journalist by her thirtieth birthday, expanded her reach with the 2015 release of her New York Times bestseller, “Rich Bitch”. Yes, that’s the title. Before you start going nuts, CALM DOWN. Nicole’s premise is simple: she wanted to own that word and use it to entice those who might not necessarily pick up a personal finance book. Nicole’s latest book, which is laugh out loud funny, is called “Boss Bitch: A Simple 12-Step Plan to Take Charge of Your Career”. Despite the title of both of her books, they are not exclusively for women. Both are about taking charge, no matter who you are. Boss Bitch is about being a boss without having a business card or dozens of employees to prove it. Here are some topics that that Nicole explores: -Be the CEO of YOU by running your life like a business -Think like a boss by being entrepreneurial within an existing company -Getting, and crushing, your dream job -Be a hustler by exploring your passions and making extra money -The nuts and bolts of getting your OWN business off the ground Nicole’s steps jibe with one of the common themes of Better Off: Investing in YOURSELF, bettering yourself to become better off in life and in your career will pay more dividends than any investment! These are not unique concepts, but like diet and exercise, just a few small steps often lead to long-lasting improvements. I had so much fun with this interview that I can’t wait for Nicole’s next book! I suspect it will have a certain word in the title... “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Please leave us a rating or review in iTunes! For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/.

BONUS call: Disability Insurance Mar 28, 2017

Show notes

This week on the BONUS call we talked to Brian from Seattle who was wondering if he should still be paying for disability insurance. Insurance questions are always tricky and very specific so there's no standard answer. Give it a listen...who knows, you or somebody you know may be in a similar situation. As always, let us know what you think by leaving a rating or review in iTunes. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Have a question? Email us at askjill@betteroffpodcast.com.

Listener Questions with Alex Benke, CFP® at Betterment Mar 23, 2017

Show notes

We like to mix it up and try new things every now and then on “Better Off.” Earlier this month, for the first time, we featured one guest (Jason Zweig) on back-to-back episodes. This week, it’s another first for us, one that’s all about you guys, our awesome listeners. We’ve been getting so many email questions on a variety of topics we thought it would be a good idea to devote an entire episode to answering your questions. Sure, I could do this on my own but thought it would be much more fun to have a partner in crime, so I borrowed Alex Benke, CFP®, from our sponsor, Betterment. Betterment recently announced new service plans which offer access to a team of CFP® professionals and licensed financial experts to help customers with their more complicated financial issues. We’re borrowing a page from that model and answering your questions! We started off helping Stephen from Florida with retirement planning. Like many, Stephen feels he got a late start and wants to make sure he’s now on the right path. Howard from Atlanta is in pretty good shape with a nice chunk of money socked away, but he wanted a second opinion to see if there’s anything he could be doing better or if there’s something he should stop doing. Andrew from Illinois recently inherited retirement money after his father passed away. With the inheritance comes the responsibility of RMDs, taxes, etc. It can be a lot for someone to process so Alex and I were more than happy to lend a helping hand to Andrew. We finished up this episode with Peter in Michigan who finds himself in a common situation: He’s carrying piles of student loan debt, as in $200,000. Peter was wondering if it made more sense to increase his 401(k) contribution or put some extra cash toward the student loans? Here’s a tease...Alex and I had different opinions on this one. :) I hope you enjoyed this special episode. Who knows, maybe we’ll start doing it on a more regular basis. I’ve always found that people love hearing other people ask questions because chances are, they were wondering the same thing but were too afraid to ask. Don’t be afraid! If you have a question, email us at askjill@betteroffpodcast.com. “Better Off” is sponsored by Betterment. Please leave us a rating or review in iTunes. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/.

BONUS call 006: How to Find a Financial Advisor Mar 21, 2017

Show notes

Do you have a financial advisor? Are you looking for one? Do you know how much you're paying this person? Or should be expecting to pay? Are the fees so high you feel like you're getting screwed? Our BONUS caller of the week sure felt that way! That's why Cheryl from Massachusetts gave us a call. Was her gut instinct right? Is she paying too much? Give it a listen and leave us your feedback by leaving a rating or review in iTunes. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Have a question? Email us at askjill@betteroffpodcast.com.

Tax Prep Tips with Ed Slott Mar 16, 2017

Show notes

With Tax Day right around the corner, our guest, Ed Slott, CPA, is in the house to review some last-minute tips, dos and don'ts, and provide sage advice about which IRA might be right for you. Ed is not only a tax guru, he’s also a total character. He skillfully presents what is usually dry advice in just the way we like on “Better Off”: with attitude and humor! Considered one of the foremost authorities on all things regarding taxes, retirement, IRAs, Ed is regularly quoted in the New York Times, Wall Street Journal, Forbes, Money, Kiplinger’s, USA Today, Investment News and a host of additional national magazines and financial publications. You may have also seen Ed on your local public television station on one of his numerous specials. I realize paying taxes can be a sore subject, but as much as everyone complains, Ed says that tax rates are still relatively low. That means that now could be a good time to move funds from tax-deferred vehicles, like 401(k)s and IRAs into tax free Roth IRAs. Ed also notes that the very best retirement strategy is to work as long as you can. Extra income can prevent you from dipping into your nest egg; allow you to make Roth and spousal Roth IRA contributions (though once you turn 70 1/2, you can NOT make traditional IRA contributions); and most importantly, working longer will help you combat the reality of longevity! See, it’s not all bad news around tax time...and as Ed says, the key to the entire tax preparation process is to keep flawless records and documentation throughout the year! “Better Off” is sponsored by Betterment. Please leave us a rating or review in iTunes. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/.

BONUS call: Mortgage Pay Off Mar 14, 2017

Show notes

On the latest BONUS call we talk to Kevin from California. Kevin and his wife were recently gifted $25,000 and have been contemplating various ways to use it. As a young couple with decades ahead of them before retirement, their initial thought was to pay down the mortgage. Good idea? You'll have to listen for the answer! Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating in iTunes. Have a question? Email us at askjill@betteroffpodcast.com.

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