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Soon after donning their caps and gowns, recent college graduates should develop their first (of many) financial plans. Here’s how to start: Create a cash flow: No, not a budget, but a process that will allow you to track what's coming in and going out. This may sound annoying, but think of it as a way to find the money to fund your various financial priorities. Most banks offer apps or you can try Mint, Digit or You Need a Budget.
As many long time readers know, I have been a consistent cheerleader for the CFP® certification that I hold from the Certified Financial Planner Board of Standards, Inc. That’s why I am delighted to announce that I am assuming a new role, “Senior CFP Board Ambassador.” Just like I do in this column, I will provide consumers with timely personal financial advice, explain how current economic and financial news impacts their lives and underscore the importance of having a financial plan.
This weekend we say goodbye to 2016 and hello to 2017! It also means that there's no chance we're doing a live show this weekend...so you get one more holiday best-of from the Jill no Money team, aka me and Mark. Consider it our New Year's gift to you. P.S. stay tuned for an EXCITING ANNOUNCEMENT IN 2017, which we think you'll enjoy :) Back to this week...
First up you're going to hear from a guy you should be thanking every time you contribute to your 401(k): Ted Benna, who is more commonly known as the "father of the 401(k)" because he created and gained IRS approval of the first savings plan. That's right, he's the guy responsible for your 401(k). Pretty cool, huh? It's amazing to hear his story and the history of the plan and how the whole thing came about.
In hour two we chat with Rana Foroohar, journalist and author of "Makers and Takers," a book that discusses how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate all American businesses. Rana shows how the “financialization of America," the trend by which finance and its way of thinking have come to reign supreme, is perpetuating Wall Street’s reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream.
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Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:
Surprise, surprise...it's Christmas/Hanukkah weekend, which means we get to reinvent ourselves...in other words, you're getting a "best-of" show -- consider it our gift to you! 2016 saw a first for Jill on Money: a single guest for an entire show! Who would be worthy of such an honor? The one and only James Altucher.
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I'm guessing by now that you're at least somewhat familiar with James. If you're not, this describes him in a nutshell:
More than anything else, what initially drew me to James is his ability to continually reinvent himself. This is a guy who has been down many different career paths, made millions, lost it all more than once, yet somehow always comes out on top. I really think you'll enjoy his story.
And if you didn't get it as a Christmas gift, I highly recommend you check out his book, Choose Yourself.
Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:
Here's a little secret I'll let you in on...this show, #302, is the last "new" show of 2016. The following two weekends will be Christmas and New Year's...and I've got news for ya...Mark and I won't be working! So, as the year comes to an end, it's a perfect time to review some year-end financial planning tips.
For such an occasion there's no one better than Michael Goodman, founder and president of Wealthstream Advisors. Not only is Michael a dear friend of mine, he's also my advisor. There's my full disclosure :)
Michael and I discussed a variety of financial planning topics to ponder before you shut down for the holidays:
And Michael has one crucial piece of advice regarding your long-term financial plan. Come on now, it's not that easy, you're gonna have to listen to the interview for that one!
That's it, that's our last "new" show of 2016...hope you enjoyed it! We'll whip up some good stuff for you guys over the next couple weekends...stay tuned!
Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:
On the show this week we dive into the FinTech world, discussing next-generation online brokers with Hardeep Walia, founder and CEO of Motif.
If you're a regular listener of Jill on Money, then you know we're fans of the FinTech world. Whether it's Betterment or Rebalance IRA, we're all for the combination of finance and technology. Now you can add Motif to that list.
Led by founder and CEO Hardeep Walia, Motif is a next-generation online broker whose mission is to simplify complex investment products and make them universally accessible. The company's flagship product allows individual investors to act intuitively on their insights by turning them into a "motif" of stocks...basically purchasing a basket of stocks based on a theme. Motif also offers a variety of retirement and non-retirement products, including:
Before launching Motif, Hardeep spent more than six years at Microsoft, where he was General Manager of the company's enterprise services business. He also serves on FINRA's Technology Advisory Committee.
Now here's the deal...Mark and I were promised some Motif gear...a hat, a hoodie, a vest, anything...unless the package was stolen, it still hasn't arrived. As of now, we're big fans, but if something doesn't arrive soon, that could change :) Just saying...
Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:
We talk about President-elect Donald Trump and what it means to you and your money plus some financial planning advice with guest Paul Auslander.
Whew, what a week. Trump beat Clinton. Stocks tanked. Trump spoke in the wee hours of Wednesday morning. Stocks rallied. And continued to rally throughout the week. Which led to me being inundated with questions from readers/listeners/viewers, the most common one being, "what should I do with my retirement account?" Yes, I have the answer...but come on now, it's not gonna be that easy...you'll have to listen to the show for the answer!
Now, as we near the end of 2016, it's a good time to take a crash course in financial planning. Who better to teach it than Paul Auslander, Director of Financial Planning at ProVise Management Group.
For nearly 30 years Paul has been designing and implementing strategies for his clients with one goal in mind...to help them worry less about their financial futures. While trying to help our listeners worry less, Paul touched on a variety of topics, including:
A little bit of something for everyone!
Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:
Earlier this month, the Economist Intelligence Unit updated its list of the Top Ten Global Threats. They are:
While any one of these events could throw the world’s economy into a tailspin, they are out of our control, so it may be smarter to concentrate on the Top Ten Financial Threats that are within our ability to manage.
It's that time of the year...when all of your questions need attention! In addition to hearing your voices, we also love your e-mails. Unfortunately, they can start to pile up awfully quickly. That's why from time to time, we need to plough through them. If we went too fast, just nudge us again with another note. We also want to hear about your wedding guest etiquette!
If you missed the great episode with James Altucher, check it out here.
Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:
We always talk about the importance of working with fiduciary advisors, but who's keeping tabs on them? Guest and current FPA President Ed Gjertsen weighs in on the question. He says that the oversight is conducted by a trio of entities: the CFP Board of Standards, the SEC and FINRA. Ed also discussed why he and the FPA remain "fee-neutral".
Jack from GA needed advice about his future retirement from the military, we discussed in greater detail why revocable trust may not be necessary for most and reviewed new IRA rollover rules for Marilyn.
In case you missed it, last week was the official start of tax season. Here's last week's CTM segment outlining what you need to know about changes to your tax returns and here's how to stick to your New Year's Financial Resolutions.
Thanks to everyone who participated and to Mark, the BEST producer in the world. Check out Mark's first-producing credit for this CBS Evening News segment that aired recently. If you have a financial question, there are lots of ways to contact us:
