Mortgage pay down

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#229 Flying High with Advisor Don Cloud

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Don Cloud, president and founder of Cloud Financial, began his career in financial services industry in the 1990s with a mission to educate and inspire individuals to play an active role in their personal finances. Don discussed what to do if you’re facing an unexpected early retirement; how he manages clients that don't act in their own best interests; and the power of diversification…and he has an awesome accent too!

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Can we make dreams come true? That's what Jeannie wants to know! She wants to spend the first few years of retirement in Paris before returning to the US. Can we help make her dream a reality?

The housing market may be recovering, but not enough to help Jeff, who needs advice about selling a house that is underwater. Alex has a question about whether or not to sell a rental property and Chet wants to know about required distributions.

Thanks to everyone who participated this week, especially Mark, the Best Producer in the World. Here's how to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 
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#228 Preparing for Retirement

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Sure it's summer, but that doesn't mean you can't spend a little of your time at the beach or the mountains contemplating your retirement, right? In fact, your time off might encourage you to think a little more seriously about how you might spend those non-working years. In addition to dreaming, you'll have to think ahead and get your portfolio in shape for the transition.

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Paul is 70 and asked about his portfolio as well as his Required Minimum Distribution, Angela from Phoenix is preparing her investments for retirement and Sybil has been advised to combine several of her TSA accounts - should she? Scott MI is just 45, but he is "retiring" from a union job--what should he do with his pension?

Our younger listeners are also thinking ahead to retirement. Jack and his wife are in great shape and want to know what to know how to continue to maximize their cash flow; Amey wants to concentrate on accumulation for the next five years; and Christine from Perth, Australia has about $5-$7K each month that she and her husband are saving for a new home in CA. Should they direct the money into a money market account or should they pay down an existing mortgage?

Thanks to everyone who participated this week, especially Mark, the Best Producer in the World. Here's how to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 
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#183 Mortgage Pay Down, Student Loans

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When is it preferable to pay down a mortgage on a rental property? Should newly-married couples pay off each other's student loans? These and other pressing issues are on tap for this week's show!

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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:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 

Radio Show #138: Cash is King

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Listeners have amassed sizable cash reserves-now what to do with all of that moo-lah? Is it time to pay down the mortgage, invest or do maintain the position?

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Walt, Lynn Steve and Ang are all sitting on a pile of cash. In each case, the advice is slightly different, proving once again that every situation is unique.

Mark has had a variable annuity for five years and has been offered the opportunity to purchase a rider that would protect his downside risk-is it worth it? Meanwhile, Nell's advisor is suggesting a change in how he will charge her for his services. She wonders if the new fee is worth it?

Katie asked about combining retirement accounts and Elmar and his wife want to know what steps they should take to  go from two incomes to one.

Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 

Radio Show #120: Bond bloodbath

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The Federal Reserve spoke and the bond market was not amused. Chairman Bernanke said that if the central bank’s projections were correct and the economy continues to improve, the Fed could begin to taper its bond purchases at the end of this year; and the program could conclude in mid-2014. Bond yields spiked to 2.5 percent and bond prices, which move in the opposite direction, sank.

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The rise in 10-year Treasury bond yields from 1.6 percent in the beginning of May to a 15-month high of 2.5 percent in mid-June might not seem like a big deal – just 0.90, right? But it’s important to realize that it’s a 56 percent move in just 7 weeks!

Since a one percent increase in yields could cause a bond fund to decline by 5 to 10 percent, depending on the type of bonds you own, the questions about bonds are starting to pour in. Summing up most of those e-mails was Brian, who knows he has to rebalance, but is fearful of the bond market.

The retirement planners were out in force: Patricia from MO is trying to plan for an adequate, steady income if her husband predeceases her; Gary in NY is wondering whether to take 20 percent of his $1 million retirement savings and put it into a guaranteed annuity; Mike from CA wants to know if his nest egg is sufficient to supplement his pension; and Doug from MD is contemplating retirement, after a big change in his life.

We fielded home purchase and mortgage questions from Daniel in Arkansas and Stephanie in Texas; soothed Margaret and Jan, who are both worried about the stability of Social Security (fear not!); and chided Jason for wanting to use off the shelf software to save money on estate planning - bad idea!

Thanks to everyone who participated and to Mark, the BEST producer in the world and Christina, who is vying for "Intern of the Year". If you have a financial question, there are lots of ways to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 

Radio Show #119: Father's Day financial advice with "Big Al"

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In honor of Father’s Day, I asked my Dad, “Big Al” to join us for a couple of segments. My father was a stock options trader and specialist on the floor of the American Stock Exchange, which was how I caught the bug of the business. For a guy who had a risk-taking career, its notable how conservative he is about the rest of his financial life…

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After Dad got us warmed up, we talked to Gloria from AZ about what to do with a variable annuity she purchased a couple of years ago. Here’s what not to do: buy any more insurance products from salespeople trolling for commissions!

Pete from CT and David from TX are planning to retire from municipal jobs are each of them is wondering how to plan for the future.

Paula from NY is weighing a move out of an expensive real estate market and wants to know what she should consider before making this big decision.

Barry and Jesse wrote in asking about estate issues, to which I provided my stock response: PLEASE see an estate attorney…not the guy or gal who closed your re-fi or your college buddy who is a divorce lawyer. This is important stuff, so it is imperative that you engage an expert!

Vincent is concerned about the bond portion of his portfolio. Are there ways to protect some of his money without attempting to time the market?

Should Carolyn refinance her home again, in order to shave time off the loan? The answer depends a lot on cash flow. If the refinance puts too much pressure on your bottom line, it may not make a lot of sense.

Thanks to everyone who participated and to Mark, the BEST producer in the world and Christina, who is vying for "Intern of the Year". If you have a financial question, there are lots of ways to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 

Radio Show #118: Mortgages, annuities, investing

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Stock indexes closed out the week on a high note, after a Goldilocks jobs report, but our listeners have more on their mind than one monthly employment report!

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Jeff from IL is a fan from the 404 show, which is why he calls me “Aunt Jill”. His wife started a new job and has the choice between a defined contribution plan and a traditional pension plan—which makes more sense?

Ashok from TX has extra cash and is considering TIPS: yea or nay? (More info on TIPS can be found at the government website www.treasurydirect.gov).

Gary is considering whether to borrow from his 401 (k) to pay off his mortgage (boo!) and J is not sure about refinancing a $47K mortgage.

Kathy from NY is selling her farm and needs a place to keep the proceeds before tapping them for another land purchase.

Can Mia from RI grab the early retirement being offered? The answer is a resounding “maybe!”

Jess from IL has an index annuity and is not sure whether he should pay a fee to get out, while Marti’s “advisor” is pitching a new bond fund, now that her annuity interest rate has dropped.

Shell and Walter wrote in about early withdrawals  and beneficiary rules of IRA accounts. The IRS web site has a good rundown on early withdrawals. With regard to a spouse who inherits an IRA, there are 4 different options:

Your ultimate course of action will be determined by your age, the age of your spouse, your income needs, the timing of your need for income from your inherited IRA assets, and the type of IRA you inherit. If you are the spouse of an IRA owner, you generally have four options from which to choose, but you should consult an advisor or a CPA before selecting the option, because each has tax consequences and some options are irrevocable.

1. Assume the IRA

2. Roll over the assets into a new or existing IRA in your name

3. Transfer the assets to an inherited IRA

4. Disclaim (decline to inherit) all or part of the assets

Scott, Jim and Chris wrote to comment about my recent article “Why everyone should watch the ‘Retirement Gamble’”. If you missed this TV program on PBS, you can access it here.

Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE