Jill on Money with Jill Schlesinger

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.

Jen, a caller approaching retirement with twin high-schoolers, shares her dilemma about balancing college expenses and retirement savings. They dive into the specifics of her 529 balances and anticipated college costs. Jill analyzes the pros and cons of tapping into retirement accounts for tuition and suggests strategic adjustments in employer contributions to maintain cash flow. They also discuss managing investments in 529s before tuition payments and the importance of reviewing estate documents to ensure financial security for the family.

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!

A financial dilemma unfolds as a caller considers withdrawing from her TSP to fund home renovations. She shares her current cash flow struggles and impressive retirement savings. Experts discuss the feasibility of tapping retirement funds for quality-of-life improvements while managing FAFSA implications. They advocate for enjoying hard-earned savings, stressing the importance of maintaining emergency funds. Practical tips on cash management, spending, and reallocating investments round out the conversation.

A listener grapples with the decision on a $600,000 inheritance in CDs versus investing it for growth. Jill dives into the complexities of IRA conversions and stock sales, addressing retirement strategies for different ages. She advises on the current unattractiveness of I-bonds due to their inflexible nature. Additionally, she highlights the advantages of starting Roth IRAs for older savers, making the case for smart long-term financial planning.

Jackie, a New York City listener, seeks help to find a fiduciary financial advisor after accumulating substantial cash savings and retirement assets. She feels overwhelmed and unsure where to start. Jill guides her through understanding the reasons for her large cash reserves and the importance of investment diversification. They discuss what Jackie wants in an advisor, emphasizing the need for transparency and trustworthy guidance. Jill also shares practical tips on finding the right advisor and the challenges faced by planners with mid-level assets.