Jill on Money with Jill Schlesinger

Diane Swonk, Chief Economist at KPMG, shares her insights on the U.S. economy amidst fluctuating trends. She explains how AI investments and wealth effects sustain growth despite a K-shaped recovery where affluence skews benefits. Diane highlights that childcare costs push skilled women out of the workforce and discusses the challenges posed by recent government shutdowns. With a forecast of 3.2% CPI, she warns that wage growth isn't keeping up with inflation, complicating consumer budgets during the holiday season.

Dr. Sharon Melnick, a business psychologist and executive coach, dives deep into the emotional landscape of job loss, explaining how it affects identity and purpose. She outlines the five stages of grief that accompany layoffs and offers strategies for coping, like reframing negative thoughts and using calming techniques to manage anxiety. Sharon emphasizes the importance of viewing job loss as an opportunity for growth and encourages young workers to embrace new experiences. Her insights provide a roadmap for navigating these challenging transitions.

Peter and Donna, a retired couple from the Bay Area, delve into their retirement planning concerns. They discuss a hefty asset allocation of 65% equities, with Donna feeling uneasy about the risk. The couple reviews their income needs, Social Security plans, and housing situation while Jill highlights the emotional toll of market downturns. With solid advice on keeping a cash buffer and tax planning strategies in place, they create a practical retirement plan that both partners can feel confident about.

Jill dives into the pros and cons of refinancing a 10-year ARM, advising against jumping to a fixed rate given current market conditions. She also weighs the benefits of Roth conversions against IRA withdrawals, discussing tax implications and inheritance strategies. Listeners learn smart saving tips for future home purchases and the risks of using retirement funds to tackle credit card debt. Each segment is packed with practical financial advice and insights!

Listener Vicki shares her adventurous cross-country move and the financial worries that come with it. She’s at a crossroads, wondering if her recent relocation could jeopardize her retirement plans. Jill dives into Vicki's house sale options, investment balances, and the risks linked to healthcare costs. They discuss balancing lifestyle with financial stability, recommending a cautious approach: sell, rent, and reassess. The conversation highlights the importance of thorough planning, especially as Vicki considers returning to the Southeast.

Fred Kaynor, Managing Director at DAFgiving360, dives into the world of donor-advised funds (DAFs) and their impact on charitable giving. He explains how DAFs work, highlighting the benefits of donating appreciated stock to avoid capital gains taxes. As the charitable giving season approaches, Fred addresses upcoming tax-law changes, urging listeners to maximize their deductions before 2026. Discover how families and modest donors can make a difference and learn about various assets that can be donated, from cryptocurrency to real estate.

Stacey, a retiree-to-be from Washington State, dives into her financial future as she seeks advice on retirement planning. She discusses when to withdraw from her various asset 'buckets' and shares details about her pension and financial goals. Jill emphasizes smart strategies, urging Stacey to prioritize certain accounts for withdrawals and consider the implications of market conditions. With a focus on timing and flexible work options, they explore how to ensure a comfortable retirement while managing healthcare costs.

Steve, a retired small-business owner, inherited $500,000 in CDs and seeks advice on managing this windfall in light of his retirement plans. They discuss whether to invest or keep it liquid for peace of mind. Jill emphasizes a balanced withdrawal strategy, encouraging Steve to preserve his Roth IRA while considering municipal bonds for better tax efficiency. They also address the importance of financial comfort with advisors and the need for a second opinion on investment choices. Ultimately, it's about protecting his financial future while ensuring a safety cushion.

Explore valuable insights on pension choices—lump-sum versus monthly benefits! Discover tips on locating a fee-only advisor for personalized guidance. Learn the pros and cons of paying off a rental mortgage early and whether to adjust investments in bond funds. Get advice on caring for an elderly parent while managing downsizing plans. Finally, find out how to effectively utilize 529 plans for current college expenses. Financial clarity has never been more engaging!

Is spending $300,000 on home renovations during retirement a wise choice? A listener discusses his plans for a condo renovation, revealing he has no mortgage. The host provides insights on pension options, social security strategies, and how to fund the renovation without returning to work. They explore asset management, tax implications of withdrawals, and charitable giving strategies. The conversation wraps up with reflections on retirement lifestyle choices, including travel and volunteering, and the importance of estate planning.