Jill on Money with Jill Schlesinger Should I Refinance to Fixed Rate?
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Nov 25, 2025 Jill dives into the pros and cons of refinancing a 10-year ARM, advising against jumping to a fixed rate given current market conditions. She also weighs the benefits of Roth conversions against IRA withdrawals, discussing tax implications and inheritance strategies. Listeners learn smart saving tips for future home purchases and the risks of using retirement funds to tackle credit card debt. Each segment is packed with practical financial advice and insights!
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Ease Into Roth 403(b) Contributions
- When offered a Roth at work, start gradually to see paycheck impact.
- Split contributions (e.g., 5% traditional, 5% Roth) then adjust if affordable.
Don't Rush To Lock Higher Fixed Rates
- Avoid refinancing a 10-year ARM at 4.125% into a 15-year fixed at 5.625% when only $88k remains.
- Expect rates likely to fall and plan to refinance later if needed rather than lock a higher fixed rate now.
Weigh Balance And Term Before Refinancing
- Compare remaining balance and time left before deciding to refinance an ARM.
- If the balance is small and rate is low, continuing to pay down may beat refinancing costs and higher rates.