Jill on Money with Jill Schlesinger Feeling Lost, What's the Next Step?
18 snips
Sep 5, 2025 The discussion kicks off with insights on the rise of contract talent post-Labor Day and the multifaceted services of Amazon Prime. A chaotic travel tale from China leads into the importance of estate planning. Listeners hear a family's inspiring financial journey from modest savings to significant wealth, alongside the challenges faced by their adult children. Retirement finances are unpacked, covering social security and investment strategies. Finally, there's a focus on tailored wealth management for immigrant families, including tax liabilities and aligning financial goals.
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How Long-Term Saving Turned Into Millions
- The caller described decades of saving: early Vanguard S&P investments, UTMA college accounts, and inherited trust funds that grew over time.
- She and her husband accumulated multiple accounts that now total millions across joint, trust, muni, and managed accounts.
High Earnings And Big Retirement Balances
- The caller revealed high current earnings and large retirement balances including a $1.7M 401(k) and sizable IRAs.
- She emphasized she still works and plans to delay Social Security and pension to age 70 for maximum benefits.
Family Friend Set Up Accounts Then Stepped Back
- The caller explained the original family friend who set up their accounts retired and became frustrated when they didn't learn investing.
- She fears blind reliance on advisors after hearing horror stories like Bernie Madoff and wants to balance trust with oversight.