Jill On Money With Jill Schlesinger

As the Consumer Financial Protection Bureau (CFPB) is defanged and the Department of Labor rolls back rules that would require retirement professionals to put the best interests or customers first, it’s easy to feel like nobody has our backs. The good news is that individual states are coming to the rescue when it comes to financial regulation and protecting consumers. In my conversation with Maria Vullo, the Superintendent of Financial Services for the State of New York (DFS), you will learn how Vullo and her department attempt to regulate a wide swath of industries. DFS has a lofty mission: “To reform the regulation of financial services in New York to keep pace with the rapid and dynamic evolution of these industries, to guard against financial crises and to protect consumers and markets from fraud.” Here’s what Vullo and her team are attempting to do on a daily basis:Eliminate financial fraud, other criminal abuse and unethical conduct in the industryEducate and protect users of financial products and s

By now you know that we're all about helping you prepare for retirement and making sure you have a solid game plan in place. But what happens when for whatever reason your parents find themselves struggling in their retirement years? That's the theme on the latest BONUS call with Jessica from New Jersey who we've decided wins the 2018 Daughter of the Year Award. Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Learn more about your ad choices. Visit podcastchoices.com/adchoices

“I’m just bad with money!” I know that many have convinced themselves that they were born with a recessive money management gene, but financial planning can be learned, like anything else. That's the message of This Is the Year I Put My Financial Life in Order. In a book that is part financial memoir and part research-based guide to attaining lifelong security, New York Times reporter John Schwartz bares his financial soul. Schwartz and his wife, Jeanne, are upper middle class earners, who have been on a financial rollercoaster. Sharing his own alternately harrowing and hilarious stories, from his brush with financial ruin and bankruptcy in his thirties to his short-lived budgeted diet of cafeteria food, John will walk you through his own journey to financial literacy, which he admittedly started a bit late. He covers everything from investments to retirement and insurance to wills (at fifty-eight, he didn't have one!), medical directives and more. Whether you're a college grad wanting to start out on the

The subject of early retirement is quickly becoming one of the most common questions we receive. The latest one comes from Mitch in California. Can he do it? Or will he have to bite the bullet and keep working? Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Learn more about your ad choices. Visit podcastchoices.com/adchoices

The new documentary film The China Hustle begins amid the depths of the 2008 financial crisis, when we meet protagonist Dan David and a band of Wall Street outsiders. These detective-like investors operate on the fringes of the financial world, scouring global markets for money making opportunities. With the U.S. economy and markets in a tailspin, they turn to China, where there is what seems like a modern day gold rush. Chinese stock market indexes are doubling every year and the potential seems endless. There’s one problem, though: U.S. investors can’t participate because they are barred from investing directly in Chinese markets. But this is America, and people always find a way. A few Wall Street operators create a novel solution by bringing hundreds of promising Chinese companies directly to U.S. stock markets. All of the sudden, US investors can get in on the Chinese miracle, without leaving the comforting confines of the NYSE and the NASDAQ. MOVIE TRAILER: https://www.youtube.com/watch?v=55892jT06aI

The idea of retiring early always sounds amazing, but there's a big time risk of calling it quits and having to dip into your nest egg too early in the game. That's the discussion we had with Lee from Germany. Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Raise your hand if your employer offers a workplace retirement plan.  Keep it raised if your employer offers a match. Raise the other hand if you’re participating.   Now keep them both raised if you can tell me what fees you’re paying and what funds you’re invested in. Funny how all those hands just went down! Most of us have access to retirement plans through our jobs and Americans have more assets than ever in those plans and with the advent of financial technology (fintech), plans have become more robust. Some are using advanced algorithms to help employees select the most appropriate benefits based on information provided, while others assist participants with fulfilling future goals, like purchasing a home, sending kids to college, and ultimately retiring. Whether or not your plan is using fintech, there are specific questions that you should be asking:Are you contributing to six percent?Are you increasing your contribution by at least one percent each year? Are you getting the full match, if there i

Should you use your emergency reserve to tackle your student loan debt? That's what Kristin from Florida was wondering on the latest BONUS call. Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Learn more about your ad choices. Visit podcastchoices.com/adchoices

This week marked the first time the press spotlight was on Jerome Powell, the new Chairman of the Federal Reserve. It was just a few weeks ago that Powell succeeded Janet Yellen, and as expected, the Fed just announced another quarter-point increase in short term interest rates, a sign that the economy continues to grow.  It’s probably safe to say that the average person thinks the Federal Reserve is this big stone building in D.C. that does its own thing, if people are thinking about the central bank at all! But the truth of the matter is that not a lot comes out of the Fed without running things by another big stone building, the one that houses the Senate and House of Representatives. To help pull back the curtain a bit on the complicated relationship between the Fed and Congress, we are joined by my childhood friend and Fed expert, Mark Spindel, who along with Sarah Binder, recently published: The Myth of Independence: How Congress Governs the Federal Reserve. The pages trace the Fed’s transformation

Another week, another BONUS call where we're once again discussing the benefits of using a Roth retirement vehicle. Today's question comes from Marshall (and his daughter) in Virginia. Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Daily life requires numerous decisions. Some easy, some difficult. And some that have to be made without knowing a lot of pertinent information. And what we think is the best decision in the moment, doesn’t necessarily yield the best outcome. No one knows this better than our guest this week, Annie Duke. As a former professional poker player and world champion, Annie made a living based on high pressure decision making and shares the story in her new book, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts. There’s always an element of luck that you can’t control, and there is always information that is hidden from view. So perhaps the key to long-term success (and avoiding worrying yourself to death) is to think in bets:How sure am I?What are the possible ways things could turn out?What decision has the highest odds of success?Did I land in the unlucky 10% on the strategy that works 90% of the time?Or is my success attributable to dumb luck rather than great decision making?  Fo

I've been taking listener calls for nearly eight years and I think this is the first social investing question we've received. How can you make sure you're not investing in companies that you don't support, such as gun manufacturers? That's the question this week on the latest BONUS call with Russell from Las Vegas. Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Life is full of challenges, both personally and professionally. Today’s interview with Amy Cuddy is the perfect example. It took a full year to pin her down, and that’s no exaggeration! But Amy was well-worth the wait. I was enchanted with her from the start of our conversation. Have you ever left a nerve-racking challenge and immediately wished for a do over? Maybe after a job interview, a performance, or a difficult conversation? The very moments that require us to be genuine and commanding can instead cause us to feel phony and powerless. Too often we approach our lives' biggest hurdles with dread, execute them with anxiety, and leave them with regret. By accessing our personal power, we can achieve "presence," the state in which we stop worrying about the impression we're making on others and instead adjust the impression we've been making on ourselves. Does this sound a bit out there to you? RELAX...Amy breaks it down in a way that resonates. We don't need to embark on a grand spiritual quest o

If you know anything about me then you know how I feel when it comes to people who think they can successfully time the market. Our BONUS caller this week, Paul from Connecticut, is convinced he knows how the market will perform in 2018. Great call! Have a finance related question? Go to jillonmoney.com for all the contact info and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://itunes.apple.com/us/podcast/better-off-jil

Tax season is like the Super Bowl for identity thieves and that means that you need to be on high alert for scams. Here’s some that you need to guard against: IRS Phone ScamWhere someone pretending to be from the IRS contacts a consumer stating they owe back taxes and threatens them with jail time if they don't pay. These fraudsters prey on fear and many consumers give in, paying a bogus fee through prepaid card, wiring money or even an iTunes card. Golden rule - the IRS never calls, emails or texts. If you receive these calls, hang up.W-2 ScamImposters are using phishing schemes to target the HR departments of businesses asking for W-2 or W-9 information. In these spear phishing schemes, the emails appear legitimate but they are designed to steal important financial documents. If you receive this email or text, don't respond.Child ID TheftFraudsters target children's data because they have clean, pristine credit profiles and they can use this data for a host of ID theft schemes, including tax related, medic

In what is quickly becoming one of the most common questions we get, today we're discussing the Roth 401(k) option now being offered by many employers. Should you use it if available? Have a finance related question? Go to jillonmoney.com for all the contact info and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  http://betteroffpodcast.com/  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2 Lear

With tax season in full swing, it’s time for some much needed tax tips, dos and don’ts, and sage advice about IRAs and backdoor conversions. As crazy as this might sound, you may want to enjoy this tax year while it lasts, because come next year, it’s going to get a whole lot crazier with all the changes to the tax code. While almost all of the changes go into effect next tax season, one big change occurs this year. If you itemize deductions on Form 1040, Schedule A, the new law allows you to deduct qualified medical and dental expenses that exceed 7.5 percent of your adjusted gross income (AGI) – that’s a lower threshold than the previous 10 percent. (The level returns to 10 percent beginning January 1, 2019.) Medical care expenses is a big category and you should check out the IRS list, because it includes payments of fees to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and nontraditional medical practitioners, as well as insurance premiums you paid for policies that cover m

After a career in the military, and an amazing job of saving for retirement, how does one plan for a return to civilian life? That was the question from Jeannine in Washington who wants to make sure she has all her ducks in a row as her husband plans to retire from the Army. Have a finance related question? Go to jillonmoney.com for all the contact info and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  http://betteroffpodcast.

Home ownership has always been considered an essential part of the American Dream. And while it may be getting harder to accomplish—especially for the millennials—it’s still pretty high on the list of goals. If you’re going to do it, make sure you do it right by doing your homework and asking the right kinds of questions:What can you afford?What do you want in a home, and what do you really need?What does "location, location, location" really mean?How do I decide what to offer on a house?What exactly does the closing process look like?While it’s hard to ignore all the financial implications of making such a large investment, there are, of course, the equally important issues related to life, family and relationships that arise in buying a home. And quick postscript to all you millennials out there who want to buy, but feel like the cards are stacked against you...hit up the app store on your phone and put all the tools and technology at your fingertips to use to help you find the best deal possible. And r

If there's a piece of property in the family that's on the market, would it make sense to buy it and keep in the family as an investment property? That's the question from Ryan on the latest BONUS call. Have a finance related question? Go to jillonmoney.com for all the contact info and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  http://betteroffpodcast.com/  https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id