
Jill on Money with Jill Schlesinger
Planning for Our Financial Future
Jan 7, 2025
Explore innovative retirement strategies and essential tips for navigating family finances. Dive into proactive planning methods like Roth IRAs and 529 accounts for children's education. Discover how to optimize college funding while considering family income's impact on scholarships. Delve into the benefits of job flexibility in nonprofit careers and reassessing life insurance policies. Learn about vital estate planning tools like wills to secure your family's future against uncertainties.
14:51
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Contributing to retirement accounts like an SEP IRA and starting a Roth IRA can significantly enhance long-term financial security.
- Establishing a 529 plan for children's education and enhancing life insurance policies are crucial steps for comprehensive financial planning.
Deep dives
Financial Planning for the Future
The discussion focuses on strategic financial planning for the future, particularly in the context of retirement and children's education. One insight revealed is the importance of contributing to retirement accounts, as the couple has managed to build approximately $210,000 in an SEP IRA while also maintaining two old 401(k)s. The necessity of starting a Roth IRA for the spouse is emphasized, as this could enhance their retirement saving strategy alongside the SEP. Additionally, it is suggested that establishing a 529 plan for the children’s education could provide tax benefits and aid in long-term financial goals.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.