Better Off with Jill Schlesinger | Financial Planner & Expert
Host Jill Schlesinger tackles uncomfortable and even controversial money and investing issues, without the financial jargon, to get to the heart of what is important for anyone to know. Jill takes listener phone calls and interviews informative and entertaining guests each week to uncover surprising insights and provide actionable information so you can make the most of your money. This show..
You guys know I’m a sucker for chatting with a rockstar economist, especially when it’s a woman! We did it earlier this year with Linda Yueh, and this week we’re doing it again with Diane Swonk.
Diane is one of the most respected macroeconomists, who maintains a unique perspective on the inner workings of Main Street as well as Wall Street. She is an expert on the economics of the labor market, monetary policy and structural changes that are distinct from economic cycles.
All of this came in handy as we chatted about global and domestic economic conditions, touching on a variety of topics such as:
Will there be more interest rate hikes?
Are we on the verge of another recession?
What is the biggest threat facing the global economy?
With a network that includes economists, industry leaders and geopolitical experts, Diane advises policy makers at all levels of government, including central bankers.
For her outstanding contributions in the field of economics, Diane has been named a Fellow of the National Association for Business Economics (NABE). She is a member of the Council on Foreign Relations, serves on the Sitting Committee to the Booth School of Business at the University of Chicago and advises the economics department at the University of Michigan.
She has testified before Congress to improve the quality of economic data and on the causes and consequences of income inequalities.
If you’re a Twitter user, Diane is definitely one to follow.
You're saving and saving and saving for retirement. Most of it is in stocks...but what about bonds? Do you need them and what's the best way to start mixing them in? That's what we chatted about with Dee from Seattle on the latest bonus call.
This year we’ve had some pretty impressive CEOs and entrepreneurs on the show. It continues today with Reid Hoffman. If you don’t know the name, you definitely know some of the products he was behind. How about PayPal or LinkedIn?
What entrepreneur or founder doesn’t aspire to build the next Amazon, Facebook, or Airbnb? Yet those who actually manage to do so are exceedingly rare. So what separates the startups that get disrupted and disappear from the ones that grow to become global giants?
The secret is blitzscaling: a set of techniques for scaling up at a dizzying pace that blows competitors out of the water. The objective of blitzscaling is not to go from zero to one, but from one to one billion, as quickly as possible.
When growing at a breakneck pace, getting to the next level can require very different strategies from those that got you to where you are today.
In a book inspired by their popular class at Stanford Business School, Hoffman and Yeh reveal how to navigate the necessary shifts and weather the unique challenges that arise at each stage of a company’s life cycle, such as:
How to design business models for igniting and sustaining relentless growth
Strategies for hiring and managing
How the role of the founder and company culture must evolve as the business matures
Unless you're only going to work for one employer, which is exceedingly unlikely, chances are you're going to have some old retirement plans out there. What should you do with them? Leave where they are? Roll into the new plan? Consolidate? That's the question from Lisa in New Jersey on the latest bonus call.
Michael Jackson, Prince, Aretha Franklin…these three amazing and wildly successful musicians did not have a will. How could that be, you ask? Don’t they have agents, lawyers and accountants? Didn’t they know at some point they were going to die? “That’s irresponsible,” you say, but welcome to the real world, where even famous people can’t seem to get their acts together to address this difficult topic head on.
According to a Caring.com survey, only 42 percent of U.S. adults currently have estate planning documents, including a will. Shockingly, for those with children under the age of 18, the figure is even lower, with just 36 percent having an end-of-life plan in place. Of those who have not done any estate planning, 47 percent said, “I just haven’t gotten around to it.”
I get it…contemplating one’s death is not exactly high on anybody’s to-do list, but it is important that you overcome the anxieties associated with this emotional topic and take control.
If you are ready to finally begin or revisit the planning process and seek the guidance of a qualified estate attorney (yes, you should pay up for a lawyer and not do it yourself), here are the basic documents to consider:
Will: A document that ensures that assets are passed to designated beneficiaries, in accordance with your wishes. In the drafting process, you name an executor, the person or institution that oversees the distribution of your assets. If you have minor children, you need to name a guardian for them.
Letter of Instruction: This may contain appointment of someone who will ensure for the proper disposition of your remains, creepy, but important if you are choosing a method that is contrary to your family’s tradition.
Power of Attorney: Appointment of someone to act as your agent in a variety of circumstances, like withdrawing money from a bank, responding to a tax inquiry or making a trade.
Health Care Proxy: Appointment of someone to make healthcare decisions on your behalf if you lose the ability to do so.
Trusts: Revocable (changeable) or irrevocable (not-changeable) trusts may be useful, depending on family and tax situations. For 2018, the first $11.2 million of an estate is exempt from federal estate taxes. If an estate is above the threshold (or twice that for married couples), you may want to consider a trust.
October marks the beginning of the college financial aid application season. The Free Application for Federal Student Aid, more commonly known as the FAFSA, became available for the 2018-2019 school year on October 1.
Having the college talk with your kids can certainly be a tricky and complicated situation. To help you guys out, we’re joined by bestselling author and financial literacy advocate, Beth Kobliner.
Beth’s latest project, We Need To Talk College, focuses on choosing the right college and figuring out how to pay for it.
The project focuses on four main areas:
Starting the conversation: Here’s where the journey begins. Starting to talk about your worries and excitement when your kid is in 9th grade gives your family time to prepare for big changes ahead. So gather around the kitchen table, or cozy up on the couch, and start talking.
Shopping for schools: It can be overwhelming—trying to separate higher ed hype from the truth, navigating the application process, and figuring out what your kid will actually get for all that money. Here’s how to become a super smart college shopper and create a shortlist of schools that fit your kid’s needs and your budget.
Paying for college: College costs have soared—but a degree is more valuable than ever. Here you’ll find all the resources you need to understand financial aid, talk to your kid about the money side of higher ed, and keep track of your progress toward paying for college.
Making the final choice: You’ve come a long way from that first college conversation. Now that the acceptance and award letters are in, it’s time for you and your kid to make a final decision. It can feel like a leap of faith, but never fear: Here’s where you learn how to choose a college that checks all the boxes, without losing your mind.
When you complete these four steps, it’s time to celebrate, because you did it! You have a kid on the way to college!