Jill on Money with Jill Schlesinger

529 Assets Not Growing

Jan 3, 2025

The podcast dives into the perplexing stagnation of 529 college savings plans despite a booming market. Listeners hear about the strategic balancing act required for retirement planning, especially after a layoff. An engaging discussion uncovers doubts about annuity investments, stressing the importance of understanding personal financial situations. Additionally, experts emphasize the need for revisiting financial goals following major life changes and the benefits of different investment options like Roth 401(k) plans.

18:00

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Quick takeaways

Reevaluating life insurance needs in light of significant life changes is vital for maintaining financial stability and ensuring adequate coverage.

Engaging in open family discussions about financial planning enhances resource optimization, such as utilizing grandparent-owned 529 plans for college savings.

Deep dives

Importance of Financial Reflection

The end of the year presents a timely opportunity to assess personal financial planning. Life changes, such as marriage, divorce, or parenthood, can necessitate a reevaluation of life insurance needs. Ensuring adequate coverage tailored to current circumstances is essential for financial stability. Utilizing resources like Policy Genius can simplify this process, offering affordable life insurance options and support services to help individuals navigate their decisions.