Jill on Money with Jill Schlesinger Red Flag Warning
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Nov 13, 2025 Is your financial planner a friend or a foe? Discover the red flags to watch for when hiring a financial firm, especially those with high fees. Is retirement just around the corner? Learn confidence boosters for retirement readiness, and find out why keeping your Required Minimum Distributions in cash may not be the best move. Plus, get insights on managing withdrawals when spouses have unequal balances. Tune in for practical advice and engaging listener interactions!
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Don't Overpay For Asset Management
- Avoid hiring a planner charging 1.5% AUM plus high-fee active funds when you manage fine low-cost portfolios yourself.
- Transfer assets away or seek a fiduciary with low-cost funds if you prefer outside help.
Inherited Trust Influencing Hiring
- Tammy describes a family firm's handling of an inheritance which convinced her husband to want them to manage their money.
- She worries because he agreed without them knowing their spending needs.
Check Fund Fees Before You Switch
- Review fund expenses carefully and avoid switching to actively managed, high-fee funds without clear benefit.
- Keep low-cost diversified funds if they've met your risk tolerance and performance needs.
