If you’re a regular listener, you know this show is not political in nature. We leave that stuff to the so-called experts. But since next Tuesday is Election Day, we thought we’d talk a little politics with rockstar author and repeat guest, Michael Lewis. A prolific writer, it’s highly likely that you’ve probably picked up at least one of his books, including Moneyball, The Blind Side, The Big Short or Flash Boys. In this interview, we discuss his latest work, The Fifth Risk, which focuses on the consequences we may face if some of the people given control over the government have no idea how it works.  As you turn the pages, you’ll be taken into various departments of the government that at times resemble a rudderless ship. In Agriculture, the funding of vital programs like food stamps and school lunches is being slashed. The Commerce Department may not have enough staff to conduct the 2020 Census properly. Over at Energy, where international nuclear risk is managed, it’s not clear there will be enough inspectors to track and locate black market uranium before terrorists do. Willful ignorance plays a role in these looming disasters. If your ambition is to maximize short-term gains without regard to the long-term cost, you are better off not knowing those costs. If you want to preserve your personal immunity to the hard problems, it’s better never to really understand those problems. There is upside to ignorance, and downside to knowledge. Knowledge makes life messier. It makes it a bit more difficult for people who wish to shrink the world to a worldview. Thankfully, Michael Lewis also finds the heroes, those public servants whose knowledge, dedication, and proactivity keep the machinery running. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Michael in Illinois is considering a Qualified Longevity Annuity Contract. What are the pros and cons he should keep in mind when it comes to a QLAC? That's the discussion on the latest bonus call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Michael Jackson, Prince, Aretha Franklin…these three amazing and wildly successful musicians did not have a will. How could that be, you ask? Don’t they have agents, lawyers and accountants? Didn’t they know at some point they were going to die? “That’s irresponsible,” you say, but welcome to the real world, where even famous people can’t seem to get their acts together to address this difficult topic head on. According to a Caring.com survey, only 42 percent of U.S. adults currently have estate planning documents, including a will. Shockingly, for those with children under the age of 18, the figure is even lower, with just 36 percent having an end-of-life plan in place. Of those who have not done any estate planning, 47 percent said, “I just haven’t gotten around to it.” I get it…contemplating one’s death is not exactly high on anybody’s to-do list, but it is important that you overcome the anxieties associated with this emotional topic and take control. So that’s why today we’re doing an estate planning bootcamp with Russell Fishkind, an attorney with Saul Ewing Arnstein & Lehr. If you are ready to finally begin or revisit the planning process and seek the guidance of a qualified estate attorney (yes, you should pay up for a lawyer and not do it yourself), here are the basic documents to consider:Will: A document that ensures that assets are passed to designated beneficiaries, in accordance with your wishes. In the drafting process, you name an executor, the person or institution that oversees the distribution of your assets. If you have minor children, you need to name a guardian for them.Letter of Instruction: This may contain appointment of someone who will ensure for the proper disposition of your remains, creepy, but important if you are choosing a method that is contrary to your family’s tradition.Power of Attorney: Appointment of someone to act as your agent in a variety of circumstances, like withdrawing money from a bank, responding to a tax inquiry or making a trade.Health Care Proxy: Appointment of someone to make healthcare decisions on your behalf if you lose the ability to do so.Trusts: Revocable (changeable) or irrevocable (not-changeable) trusts may be useful, depending on family and tax situations. For 2018, the first $11.2 million of an estate is exempt from federal estate taxes. If an estate is above the threshold (or twice that for married couples), you may want to consider a trust.If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

You just sold a piece of real estate and walked away with 75 grand. What should you do with it? Is paying down another mortgage the best option? That's the question from John in Houston on the latest BONUS call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

October marks the beginning of the college financial aid application season. The Free Application for Federal Student Aid, more commonly known as the FAFSA, became available for the 2018-2019 school year on October 1. Having the college talk with your kids can certainly be a tricky and complicated situation. To help you guys out, we’re joined by bestselling author and financial literacy advocate, Beth Kobliner. Beth’s latest project, We Need To Talk College, focuses on choosing the right college and figuring out how to pay for it. The project focuses on four main areas:Starting the conversation: Here’s where the journey begins. Starting to talk about your worries and excitement when your kid is in 9th grade gives your family time to prepare for big changes ahead. So gather around the kitchen table, or cozy up on the couch, and start talking.Shopping for schools: It can be overwhelming—trying to separate higher ed hype from the truth, navigating the application process, and figuring out what your kid will actually get for all that money. Here’s how to become a super smart college shopper and create a shortlist of schools that fit your kid’s needs and your budget.Paying for college: College costs have soared—but a degree is more valuable than ever. Here you’ll find all the resources you need to understand financial aid, talk to your kid about the money side of higher ed, and keep track of your progress toward paying for college.Making the final choice: You’ve come a long way from that first college conversation. Now that the acceptance and award letters are in, it’s time for you and your kid to make a final decision. It can feel like a leap of faith, but never fear: Here’s where you learn how to choose a college that checks all the boxes, without losing your mind.When you complete these four steps, it’s time to celebrate, because you did it! You have a kid on the way to college! If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

By now you probably know that I consider myself a passive investor. That said, is there ever a time when it makes sense to be an active investor so you can squeeze out a greater percentage on that return? That's the question from Ben in Indiana on the latest BONUS call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

I love real estate, and I know I’m not alone because we’re constantly getting questions from you guys about mortgages, the housing market, interest rates, etc. Maybe some of you like real estate so much that you’re fans of the Bravo television show, Million Dollar Listing New York. Today we’re joined by Ryan Serhant, one of three real estate agents featured on the hit show, who’s out with his first book, Sell It Like Serhant: How to Sell More, Earn More, and Become the Ultimate Sales Machine. Think of it as a lively and practical guide to sell anything and up your business game from one of the top realtors in the world. Serhant was a shy, jobless hand model when he entered the real estate business in 2008, just as the financial crisis was kicking off. Just nine years later, he has emerged as one of the top realtors in the world and an authority on the art of selling. In this book Serhant shares the secrets behind how to close more deals than anyone else, expand your business, and keep clients coming back to you, including:The Seven Stages of SellingGetting FKD: How to Be a Time Manager, Not a Time Stealer.Negotiating Like A BOSS"The One Who...": Everyone Needs a HookPulling the Indecisive Client ForwardSerhant provides useful lessons, lively stories, and examples that illustrate how anyone can employ his principles to increase profits and achieve success. Whatever your business or expertise, Sell It Like Serhant will help transform you into a master at sales. Ready, set, GO! If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

It's one thing to have a retirement plan in place, but once it's established, you need to tweak and modify it as the years go by, hence the need for regular financial checkups. That's the case today with Jeff who first called me five years ago. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

When I first walked through the doors of CBS News several years ago, one thing was immediately clear: it’s an interesting mix of the old school and the new school. On one hand you have countless employees who have been in the building for 30 plus years. On the other hand, you have fresh college graduates looking to make it in journalism. And yet somehow we all come together and make it work. One big team with a crazy assortment of players. And according to our latest guest, Chip Conley, it’s these well balanced and diverse teams that hold the keys to success. Hence his latest book, Wisdom at Work: The Making of a Modern Elder. At age 52, after selling the company he founded and ran as CEO for 24 years, Conley was looking at an open horizon in midlife. Then he received a call from the young founders of Airbnb, asking him to help grow their disruptive start-up into a global hospitality giant. He had the industry experience, but Conley was lacking in the digital fluency of his 20-something colleagues. He didn't write code, or have an Uber or Lyft app on his phone, was twice the age of the average Airbnb employee, and would be reporting to a CEO young enough to be his son. Conley quickly discovered that while he'd been hired as a teacher and mentor, he was also in many ways a student and intern. What emerged is the secret to thriving as a mid-life worker: learning to marry wisdom and experience with curiosity, a beginner's mind, and a willingness to evolve, all hallmarks of the "Modern Elder." In a world that places emphasis on the new, bright, and shiny, many of us are left feeling invisible, undervalued, and threatened by the "digital natives" nipping at our heels. But Conley argues that experience is on the brink of a comeback. At a time when power is shifting younger, companies are finally waking up to the value of the humility, emotional intelligence, and wisdom that come with age. And while digital skills might have only the shelf life of the latest fad or gadget, the human skills that mid-career workers possess - like good judgment, specialized knowledge, and the ability to collaborate and coach - never expire. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

You've done a great job with your retirement plan and a great job of saving. But now you're thinking about worst case scenarios. What happens if there's another recession? Will I lose everything? Is my current allocation too aggressive? That's the scenario on the latest bonus call with Bob from Philadelphia. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

This is our third and final installment of shows looking back on the financial crisis of ten years ago. It was such a big moment we felt we needed to devote most of September to remembering how the U.S. financial system was brought to its knees. Today we get the inside account 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. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

When we think back to ten years ago and the events of the financial crisis, such as the fall of Lehman Brothers and the bailout of AIG, it’s easy to only recall what happened in the U.S. But in reality, the crisis was an enormous global mess, and one that actually started in Europe. That’s why today we’re joined by Adam Tooze, professor of history at Columbia University and author of Crashed: How a Decade of Financial Crises Changed the World. Tooze delivers an in-depth reinterpretation of the 2008 economic crisis as a global event that directly led to the shockwaves being felt around the world today. In September 2008 President George Bush could still describe the financial crisis as an incident local to Wall Street. In fact it was a period of dramatic global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. In the United States and Europe, it caused a fundamental reconsideration of capitalist democracy, eventually leading to the war in the Ukraine, the chaos of Greece, Brexit, and the eventual election of Donald Trump. It was the greatest crisis to have struck Western societies since the end of the Cold War, but was it inevitable? And is it over? Crashed is a narrative resting on three original themes: The haphazard nature of economic development and the erratic path of debt around the worldThe unseen way individual countries and regions are linked together in deeply unequal relationships through financial interdependence, investment, politics, and forceThe ways the financial crisis interacted with the rise of social media, the crisis of middle-class America, the rise of China, and global struggles over fossil fuelsGiven this history, what are the prospects for a stable and coherent world order? If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

We can do all the planning we want in life, but sometimes things just happen, including the sudden loss of a loved one. That's the case with Steve from Cleveland who is trying to navigate things after the loss of his father. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Where has the time gone? It was ten years ago this week that the U.S. financial system was brought to its knees. To help us retrace the events of that period, we’re joined today by Gretchen Morgenson, investigative reporter at the Wall Street Journal. As the financial crisis was unfolding, Morgenson was working for the New York Times, and subsequently co-authored Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon. There’s no one more qualified to walk us down memory lane and remind us of just how bad things actually were. In case you’ve forgotten, consider this timeline: 9/15/2008: Lehman Brothers files for Chapter 11 bankruptcy protection. On the same day, Bank of America announced its intent to purchase Merrill Lynch for $50 billion.9/16/2008: The Federal Reserve Board authorized the Federal Reserve Bank of New York to lend up to $85 billion to AIG under Section 13(3) of the Federal Reserve Act.9/16/2008: The net asset value of shares in the Reserve Primary Money Fund fell below $1 per share, primarily due to losses on Lehman Brothers commercial paper and medium-term notes. When the Reserve fund “broke the buck,” it caused panic among investors who considered money market accounts nearly the equivalent of bank savings accounts.9/19/2008: To guard against a run on money market funds, the Treasury Department announced that it would insure up to $50 billion in money-market fund investments at companies that paid a fee to participate in the program. The year long initiative guaranteed that the funds' values would not fall below the $1 a share.9/20/2008: The Treasury Department submitted draft legislation to Congress for authority to purchase troubled assets (the first version of TARP).9/21/2008: The Federal Reserve Board approved applications of investment banking companies Goldman Sachs and Morgan Stanley to become bank holding companies.All this in just one week!! An incredible moment in the history of this country, and it was only ten years ago. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

47 years old and looking to retire in the next four years or so...can he do it? That's the question from Michael in New York on the latest BONUS call. I know one thing...he better be sitting on a pile of money! Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

I love people and organizations who take complex financial issues and make them easier for the user. Few things are more complex than the insurance industry. And few organizations have managed to make it easy for the user to navigate the insurance landscape. One such organization is Policygenius, a website that offers users an easy way to compare and buy various products such as life, auto, disability, and homeowners policies. Today we’re lucky enough to be joined by Jennifer Fitzgerald, the founder and CEO of Policygenius. For Fitzgerald, the business started with a simple question…”Why is buying insurance such a frustrating experience?” As consultants to the top insurance companies, Fitzgerald and her partner suspected that this consumer problem was behind a lot of things they observed. It’s why life insurance ownership is at a 50-year low. It’s why health and disability under-insurance is behind most personal bankruptcies and home foreclosures. And it’s why they started Policygenius. Their mission is simple: “To get people the insurance coverage they need and make them feel good about it.” That means they thoughtfully built their business for every type of insurance consumer who may come their way:Detail-oriented? They building the best insurance content library out thereMore of a big picture person? Their Insurance Checkup is the best (and only) big picture tool aroundConvenience shopper? They’re building a one-stop shop. If you need life insurance and pet insurance, you shouldn’t have to go to a bunch of different sites.Skeptic? They’re an independent site and not affiliated with any insurers. They’ll provide you with choice and the information you need to make the right decision.It’s a rare treat to be joined by somebody who is truly excited about the insurance industry! If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

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. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Listen up women entrepreneurs, and everybody else tired of the status quo! Today’s show is for you, as we chat with Nathalie Molina Niño, author of the just released Leapfrog: The New Revolution for Women Entrepreneurs. Think the most critical factor for becoming a great entrepreneur is grit, risk-taking, or technical skills? Think again. Despite what every other business book might say, historical data show the real secret ingredients to getting ahead in business are being rich, white, and male. Which is why this book was written. Leapfrog is the decades-overdue startup bible for the rest of us. It's filled with uncompromising guidance for winning at business, your way. Leapfrog is for entrepreneurs of all stripes who are fed up with status quo advice, the kind that assumes you have rich friends and family and a public relations team. Niño is a serial tech entrepreneur, the founder and CEO of BRAVA Investments, and a proud daughter of Latinx immigrants. While teaching entrepreneurs at Barnard College at Columbia University and searching the globe for investment-worthy startups, she has met or advised thousands of entrepreneurs who've gone from zero to scalable business. Here she shares their best secrets in the form of fifty “leapfrogs,” clever loopholes and shortcuts to outsmart or jump over the seemingly intractable hurdles facing entrepreneurs who don't have family money, cultural capital, or connections. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

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.  Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Digging out from under our pile of calls and emails has been a struggle all year long, and there’s really no end in sight. It’s definitely a good problem to have and one that will certainly lead to more shows like today’s episode that only features questions from you, our fabulous listeners! If you like what you hear, please let us know by sending a quick note or by leaving a comment in iTunes. First up this week was Lisa from the Bay Area who is having a terribly hard time getting disability insurance. She’s young, healthy, has a good job...so what’s the issue? Wait till you hear this one. After Lisa we jumped into a variety of emails. We talked about saving for a house downpayment versus saving for retirement, transferring a 401(k) into an annuity (NO!!!), the benefits of using a Roth 401(k) and a Roth IRA, and the best places for short-term investments. After the emails we went back to the phones and took an inheritance call from Jenny in Seattle. We’ve been taking listener calls for just about eight years now...I can easily say that this will go down as one of the most memorable calls in the history of my podcast and radio show. Me writing about it will do it no justice so you’re going to have to listen. It was incredible. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

There's a variety of ways to save for retirement. You can do it at work via a workplace sponsored plan such as a 401(k), you can open a traditional IRA or a Roth IRA, or you can also open a brokerage account. The point is there's a variety of options. Which is best in your particular situation? That's what Katie from Omaha was asking on the latest BONUS call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Summertime is all about vacations. Have you taken yours? I’m actually in the middle of mine right now. A nice two week break. I was hoping for three but wasn’t able to pull it off. Our guest today, Ben Feder, encountered no such obstacle when he decided to take six months off. Yes, six months! Okay, that’s not quite a vacation, it’s more of a sabbatical. And as he outlines in his recent book, Take Off Your Shoes: One Man's Journey from the Boardroom to Bali and Back, it was the classic struggle of achieving that highly sought after work-life balance that led to Feder calling a timeout on his professional life. Described as the The Eat, Pray, Love for busy executives, Take Off Your Shoes invites the reader to join a journey of self-rediscovery. A hard-charging CEO of a large enterprise, Feder discovers that he is losing the very things that sustained him over his years of business success. Unsettled by his insight and determined to rebuild family relationships and rejuvenate his sense of purpose, he risks his career on a life-altering physical and emotional journey. Together with his wife and children, Feder sets off for an exotic island on a self-prescribed sabbatical year. That experience transforms them all. The writing is honest and moving, baring the author’s innermost struggles and fears, and enticing the reader to share his quest. As Feder navigates the thrills and pitfalls of his time away, he draws us into the examinations of values and priorities we all encounter in adult life. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Who really likes having a car loan? No one is the answer. If you have some cash in the bank, enough to pay off the car, should you pull the trigger and free yourself of the debt? As I told Devin from Pittsburgh on the latest BONUS call, it all depends on your unique situation. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

At a time when Congress can’t seem to agree on much, lawmakers are acknowledging that the main retirement savings vehicle, the 401(k), needs some fixing. Before you get too excited, the changes being considered are more like touch ups, rather than a complete renovation. Early conversations include: requiring plan sponsors to let participants know how much their total savings would translate into monthly income; a repeal of the age limit on IRA contributions; a more liberal approach to pooled 401(k) plans, which would help more small businesses offer retirement benefits to their employees; and the option to use a portion of a tax refund to fund retirement. While none of these ideas represents a game-changer for retirement savers, it would be the first major enhancement since 2006. But if lawmakers wanted to seek a more radical approach, they would consult with Teresa Ghilarducci and Tony James, co-authors of Rescuing Retirement: A Plan to Guarantee Retirement Security for All Americans, who claim that "The U.S. experiment with 401(k)s and IRAs, launched in the early 1980s, has failed miserably to deliver on its promises." Ghilarducci, a labor economist and leading expert in retirement security, and James, Executive Vice Chairman of the investment firm Blackstone Group, have a detailed, well-researched and more extreme recommendation for rescuing the U.S. retirement system. It starts with a concept called a “Guaranteed Retirement Account” (“GRA”), which would be offered to every worker, "from Uber drivers to CEOs." The GRA would be portable, whether you work for a number of different companies or for yourself – and each individual would control his or her account. It would be funded by a minimum 3 percent of salary, half contributed by the worker and half by the employer. Perhaps the most interesting part of the GRA is that it fixes some of the big problems that are prevalent in current plans, the biggest of which is that right now, saving for retirement is voluntary. The GRA would mandate retirement savings for everyone, including those who work part-time or are self-employed. If it all sounds too good to be true, I encourage you to check out the book. I was a cynic, but after reading it and interviewing Ghilarducci and James, I’m a convert. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

At what point should you consider purchasing life insurance? And what kind? Term, whole life, etc? That's what we're discussing today with Gabriel from D.C. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Interviewing business executives and leaders is one way I grow and learn. Especially when talking to women business leaders, I find that I walk away encouraged and enlightened. And of course, I especially enjoy it when one happens to be my friend. That’s the case today with former Goldman Sachs partner Lisa Shalett and former WNBA president Donna Orender, who joined me to talk about Donna’s recently released book, WOWsdom! The Girl's Guide to the Positive and the Possible. Seven out of ten girls feel they don't measure up academically, physically, or socially. 74% of girls feel they are under pressure to please everyone. These statistics confirm what we already know: the leaders of tomorrow need our support today. Filled with letters, activities, and no-nonsense advice from influencers, including Lisa, Queen Sugar actress Tina Lifford, CNN Editor-at-Large Kelly Wallace, founder of the Muhammad Ali Center Lonnie Ali, superstar athlete Annika Sorenstam and a certain radio show and podcast host, WOWsdom! celebrates the WOW of girls and the WISDOM of women. In letters written to themselves, women, men, and girls from all walks of life - artists, athletes, actors, business leaders, entrepreneurs, students, doctors, scientists, and humanitarians - share their hard-earned wisdom for girls who are seeking guidance and inspiration as they begin their personal and professional journeys.   Creating a world where the leaders of today help shape and inspire the leaders of tomorrow is what WOWsdom! is all about. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

The robots are coming, the robots are coming!! Okay, so maybe we’re not yet living in a world that looks like the movie Terminator, but it’s safe to say that changes are coming to the workforce as we know it. Robots, artificial intelligence, and driverless cars are no longer things of the distant future. They are with us today and will become increasingly common in coming years, along with virtual reality and digital personal assistants. That’s what we’re talking about today with Darrell West, a decades-long connection of mine who is vice president and director of Governance Studies and the founding director of the Center for Technology Innovation at the Brookings Institution. In his latest book, The Future of Work: Robots, AI, and Automation, West explores the current state of the workplace, how technological innovation will disrupt it and why government policy needs to change to help workers adapt to it. If companies need fewer workers due to automation and robotics, what happens to those who once held those jobs and don't have the skills for new jobs? And since many benefits are delivered through employers, how are people outside the workforce for a lengthy period of time going to earn a living and get health care and social benefits? Throughout the pages of this book, West argues that society needs to rethink the concept of jobs, reconfigure the social contract, move toward a system of lifetime learning, and develop a new kind of politics that can deal with economic dislocations. West presents a number of proposals to help people deal with the transition from an industrial to a digital economy: Broaden the concept of employment to include volunteering and parenting and pay greater attention to the opportunities for leisure timeWorkers will need help throughout their lifetimes to acquire new skills and develop new job capabilitiesPolitical reforms will be necessary to reduce polarization and restore civility so there can be open and healthy debate about where responsibility lies for economic well-beingIt’s a fascinating read about what faces us in the days ahead...a discussion that should take place sooner rather than later. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

We've all been there. Leaving one job and starting another. But what should you do with your retirement account at the old place? That's the question from Nate on the latest BONUS call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

The financial world isn’t an easy one to navigate. It’s complicated and often full of unnecessary jargon. So the easier we can make it for everybody to digest, the BETTER OFF (pun intended!) we’ll all be. That’s why when I find like-minded people who want to demystify money-related topics, I immediately ask them to be guests on the show. Nick Martell and Jack Kramer spent their early days working in finance but quickly realized something was missing. It wasn’t they wanted to do. So they started side hustling, while still working at two different Wall Street banks. Over a couple beers one day after work, they figured it out. They wanted to create something that provided easy to understand finance content, the kind they wished they had while preparing for finance interviews in college. One thing led to another and eventually the guys came up with MarketSnacks, the digestible daily newsletter that simplifies Wall Street by filtering out the noise and explaining what's important in one bite-sized snack – clear, condensed, and entertaining. On the heels of their successful newsletter, Nick and Jack recently launched the MarketSnacks Daily podcast, a daily show that focuses on the digestible business stories you'll actually care about. Yet another example of how the side hustle can pay off. Figure out what it is you want to do and find a way to make it happen! “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

It's becoming more and more common for workplace retirement plans to offer a Roth 401(k) option. The next question is whether or not you should be using it. That's what Shirley wanted to know on the latest BONUS call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

What kind of fees should I be paying my advisor? Will I have taxes and required minimum distributions with my Roth IRA? I'm 17, how can I create a budget? Those questions and more as we attempt to clear out the inbox! Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

We may need to create a subcategory called “Personal Finance 101” for those episodes we have that deal with the financial services industry in general. Today, my old pal Gary Schatsky is in the house to talk about the industry, the state of fiduciary and one of the most oversold/misunderstood products, annuities. Gary is a practicing financial advisor who was way ahead of his time by championing comprehensive fee-only services for individuals, which at the time was almost unheard of. As the founder of ObjectiveAdvice.com, Gary and his team share a simple, three-pronged professional philosophy approach:TRUST - Whether you're saving for college or retirement, Gary and his team believe in confidence and peace of mind, and that trust is the bedrock of all client relationships.COMPETENCE - Being able to utilize years of technical expertise, investment experience, and ongoing training to offer realistic financial solutions for all areas, such as investment, tax, estate, retirement and insurance planning.OBJECTIVITY - In order to avoid conflicts of interest in product sales, Gary and his team refuse any commissions or other compensation from client transactions based on their recommendations.Trust, competence, objectivity...that’s basically what this conversation was all about as we jumped into various topics including annuities and everything you need to know before purchasing one, FINRA, and the always popular topic of what it means to uphold the fiduciary standard. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Your husband thinks you're on track for retirement, you're not so sure. What do you do? If you're like Laura from Seattle, you call me for an unbiased opinion! Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

The student loan picture in this country is not a pretty one. According to the Federal Reserve, over half of young adults who went to college took on some debt. It's so bad that outstanding student loans have topped $1.4 trillion! To address the problem, we’re going to have a bit of fun as we try and find some sorta way to ease the burden on those students. That’s why today we’re chatting with actor Michael Torpey, best known for his work on Orange is the New Black, Red Oaks and Sneaky Pete. The student loan crisis has become so massive, that Torpey is trying to solve it in a unique way – a comedy game show. Paid Off with Michael Torpey gives three lucky college grads – all saddled with student debt – the chance to test the depth of their degrees with fun, fast-paced trivia questions. In the end, one lucky winner wins the chance to have their student debt paid off. I love it! Such a brilliant way to help some lucky students start life in the real world without a several thousand dollar gorilla on their shoulders. And what was perhaps most interesting was to hear the backstory that led to Michael creating the show. And no, he didn’t have any student loans of his own... “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

I'm so glad when people call me before they make another mistake with their current financial advisor. That's the case on the latest BONUS call with Joe from California, who thankfully was sensing that something wasn't quite right. This is a great call to learn from. If your gut is telling you something, get in touch with me!! Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Should I refinance my student loans? Is debt consolidation the best option? Should I be using a Roth IRA? Those are the latest questions we answered as we attempt to clear out the inbox! Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

June is #PrideMonth, when the LGBTQ community and its allies, honor the 1969 Stonewall Riots in New York City, an event that served as the catalyst for the gay rights movement in the U.S. and around the world. Where’s the connection between Pride and Better Off, besides the lesbian host? This week I chatted with Sarah Kate Ellis, President and CEO of GLAAD, the Gay & Lesbian Alliance Against Defamation. Ellis’s story is an interesting one because prior to coming in GLAAD in 2014, she was a lifer in the for-profit world as a media executive. She led national media brands, notably growing Real Simple into one of Time Inc.’s most respected and successful magazines. Her vision also transformed and energized leading media outlets including Vogue, InStyle, New York, and House & Garden. She served as Senior Vice President of Global Marketing at Martini Media, a digital firm specializing in online branding, public relations and marketing. Suffice to say there was a bit of an adjustment period, but the numbers don’t lie, and in a relatively short amount of time, things have turned around and only continue to get better. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Because there aren't that many defined benefit pension programs out there anymore, we don't get a ton of pension questions. But they do still exist, and every once in a while we'll get a question from somebody trying to decide between a lump sum or monthly payments. That's the case with Janet from California on the latest BONUS call. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

On this quick bonus episode we're answering some emails about retirement planning, inherited IRAs, asset allocation and car leases. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

It’s pretty rare that I have a legit economist on the show. It’s even rarer when said legit economist is a woman -- WOOT! On this episode we check both those boxes with Linda Yueh, an economist who holds senior academic positions at Oxford University, London Business School, and the London School of Economics and Political Science. Linda joined us to discuss her latest book, What Would the Great Economists Do?: How Twelve Brilliant Minds Would Solve Today's Biggest Problems. Since the days of Adam Smith, economists have grappled with a series of familiar problems – but often their ideas are hard to digest, even before we try to apply them to today's issues. In her latest book, Linda explains the key thoughts of history's greatest economists, how our lives have been influenced by their ideas and how they could help us with the policy challenges that we face today. In the light of the post-Great Recession economy, where growth has not accelerated as fast as in previous expansions, Yueh explores the thoughts of economists from Adam Smith and David Ricardo to contemporary academics Douglass North and Robert Solow. Along the way, she asks, what do the ideas of Karl Marx tell us about the likely future for the Chinese economy? How do the ideas of John Maynard Keynes, who argued for government spending to create full employment, help us think about state intervention? And with globalization in trouble, what can we learn about handling Brexit and Trumpism? Linda is also an accomplished journalist, who has spent time as an anchor/correspondent at the BBC and Bloomberg TV. With a strong social media presence, she’s worth a follow so you don’t miss any of her smart blog posts. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

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. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Desperate times call for desperate measures... Because our inbox is overflowing, we're going to start mixing in some bonus episodes until we clear out the emails. On this episode we're discussing the pros and cons of switching to a job that pays less, whether or not a second home purchase makes sense, and how to properly allocate your assets when preparing for retirement. Have a money question? Email me here. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

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. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

If you have some extra cash on hand does it make sense to try and pay off the mortgage early? That's the topic this week on the latest BONUS call as we chat with Nick from Milwaukee.  “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Happy belated #529Day, a day when states try to boost interest and participation in 529 education savings programs with various incentives. To mark the occasion, we have one of the foremost authorities on 529 plans, Andrea Feirstein, founder and Managing Director at AKF Consulting Group, a leading strategic advisor to public administrators of state investment programs. Andrea was extremely knowledgeable and we touched on several topics, including: What is a 529? A tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code. What’s the tax benefit of a 529 plan? Withdrawals for qualified higher education expenses and earnings in the account are not subject to federal income tax and, in most cases, state income tax. Additionally, some states offer residents of the state specific incentives, like the ability to deduct contributions from state income tax or a matching grant. What does a 529 plan cost? Fees and expenses vary widely from plan to plan and can include start-up fees, maintenance fees, or sales charges. In general, advisor-sold plans cost more than direct-sold plans. The Financial Industry Regulatory Authority (FINRA) has developed a tool to help you compare how these fees and expenses can reduce returns. What happens if my kid doesn’t go to college? Most states allow you to tap the accounts for other children in the family or even for the parents. Those withdrawals that are not used for qualified higher education expenses will be subject to state and federal income taxes and an additional 10 percent federal tax penalty on earnings. What has changed with the 2018 tax law? Americans can now withdraw funds tax-free from 529 plans to pay for K-12 tuition and other eligible expenses at private and religious schools, up to $10,000 per year. But there’s a caveat: Not all states will conform to the new federal rules. That means before you pull money, be sure to double check with your state. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

If you make too much money and are not able to contribute to a Roth IRA, I'm all for implementing the backdoor conversion strategy. But there are some rules associated with pulling it off, and that's what Jeff from Chicago was calling about on the latest BONUS call. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Every once in a while I chat with somebody who makes me realize just how cool my job really is. That’s the case this week with Ken Langone, the legendary financier, who helped take a bunch of companies public before co-founding Home Depot. Ken has also became a philanthropist extraordinaire, helping to rebuild the New York University hospital. Ken dropped by for an in-studio to talk about his new book, I Love Capitalism!: An American Story, but really it was just a fascinating conversation with a guy who grew up in a working-class family on Long Island, put himself through school, and after some hard work and smart decisions and a few guardian angels, became one of the most successful businessmen in the country. Ken Langone has seen it all on his way to a net worth beyond his wildest dreams, now in excess of $3 billion dollars. In a series of captivating stories, Langone shows how he struggled in academics, broke into Wall Street, and scrambled for an MBA at night while competing with privileged competitors by day. He also shares how he learned to evaluate the value of a business and apply his street smarts to negotiate enormous deals. And what happened when Langone was approached by Bernie Madoff for an investment, just weeks before the Ponzi scheme came to light? You’ll have to tune in for that chestnut... Langone says that the book is his love song to capitalism..."Absolutely anybody is entitled to dream big, and absolutely everybody should dream big. I did. Show me where the silver spoon was in my mouth. I’ve got to argue profoundly and passionately: I’m the American Dream.” “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

If it's offered, should you be making post-tax contributions to your retirement plan? As you'll hear on the latest BONUS call with Chelsea from North Carolina, it kinda depends on your situation. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in Apple Podcasts. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices