Jill on Money with Jill Schlesinger Should I Go All Roth?
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Apr 24, 2025 Listeners dive into pressing financial questions, especially regarding retirement strategies. Discussions focus on whether all contributions should be Roth, balancing investments with mortgage payments, and job options for a better retirement. The impact of relocating to expensive areas is also explored, along with the decision to rent or sell homes. The merits of converting to Roth IRAs for enhanced financial security and diversification are highlighted, making for an engaging exploration of smart financial planning.
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Evaluate Employer LTC Insurance
- Consider purchasing employer-offered long-term care insurance if affordable, as it can provide valuable coverage.
- Check if the policy is portable if you leave your employment before deciding.
Assess 401(k) Options Near Retirement
- Don't rush into rolling over a 401(k) without knowing how your pension, Social Security, and other resources cover your expenses.
- Avoid variable annuities and explore lower-risk options within your retirement account.
Don't Rush Mortgage Payoff
- Avoid paying down your mortgage early if the interest rate is low; free up your cash for other uses.
- Prioritize keeping the $1,000 monthly mortgage payment for increased financial flexibility.