Jill on Money with Jill Schlesinger

Any Benefit to Actively Managed 401(k)?

5 snips
Jul 2, 2025
Listeners learn about the pros and cons of actively managed 401(k) plans and the potential returns they promise. The hosts dissect a financial advisor's claims and explore the hidden costs of management fees. Strategies for maximizing Social Security benefits and retirement planning are also discussed, including the advantages of delaying claims and considering Roth conversions. Additionally, valuable insights are shared on supporting family during transitions, emphasizing the importance of legal advice in financial decisions.
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ADVICE

Avoid Expensive 401(k) Management

  • Avoid paying high fees for active 401(k) management that promises 2-4% better returns.
  • Don't reduce Roth contributions to cover these fees; it's unnecessary and likely unwise.
ADVICE

Be Cautious Buying Vacation Homes

  • Avoid using retirement savings or Roth contributions for non-essential property purchases.
  • Carefully assess financial and personal circumstances before buying a vacation home abroad.
ADVICE

Delay Social Security Benefits

  • Don't claim Social Security early if you don't need the money due to potential system benefit cuts.
  • Waiting increases benefit amounts, cushioning against possible 23% future reductions.
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