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You admittedly know nothing about the real estate market, yet you want to start investing in it. Is this a good idea? If so, what's the best way to do it?
Have a money question? Email me here.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
If you’re being pitched a Real Estate Investment Trust (REIT), and you already have a couple within your portfolio, do you really need another one? That’s the situation facing Cathy from California.
Next up was Lilly from Virginia who is trying to figure out a way to do a backdoor Roth IRA. The main obstacle is that she already has an existing rollover IRA.
Are you at risk of being scammed?
Our latest guest is former con artist and bestselling author of Catch Me If You Can, Frank Abagnale, and he’s here to show you how to stop scammers in their tracks.
Maybe you're wondering how to make the scam phone calls stop. Perhaps someone has stolen your credit card number. Or you've been a victim of identity theft. Even if you haven't yet been the target of a crime, con artists are always out there, waiting for the right moment to steal your information, your money, and your life.
As one of the world's most respected authorities on the subjects of fraud, forgery, and cyber security, Frank Abagnale knows how scammers work.
In his latest work, Scam Me If You Can, he reveals the latest tricks that today's scammers, hackers, and con artists use to steal your money and personal information, often online and over the phone. Using plain language and vivid examples, Abagnale reveals hundreds of tips, including:
The best way to protect your phone from being hacked
The only time you should ever use a debit card
The one type of photo you should never post on social media
The only conditions under which you should use WiFi networks at the airport
The safest way to use an ATM
With his simple but counterintuitive rules, Abagnale also makes use of his insider intel to paint a picture of cybercrimes that haven't become widespread yet.
Have a money question? Email me here.
Please leave us a rating or review in Apple Podcasts.
"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Saving for retirement while also trying to save for a house downpayment. That’s the dilemma facing Erin from Salt Lake City as we kicked off the latest radio show. Is there a happy medium? Or should she focus all her efforts on getting that downpayment in place?
Next up was Joe from Chicago with another real estate question. This one involves finding a way to keep an piece of existing property in the family.
Where has the time gone? It was ten years ago this month that the U.S. financial system was brought to its knees.
To help us retrace the events of that period, we’re joined today by Gretchen Morgenson, investigative reporter at the Wall Street Journal.
As the financial crisis was unfolding, Morgenson was working for the New York Times, and subsequently co-authored Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon.
There’s no one more qualified to walk us down memory lane and remind us of just how bad things actually were. In case you’ve forgotten, consider this timeline:
9/15/2008: Lehman Brothers files for Chapter 11 bankruptcy protection. On the same day, Bank of America announced its intent to purchase Merrill Lynch for $50 billion.
9/16/2008: The Federal Reserve Board authorized the Federal Reserve Bank of New York to lend up to $85 billion to AIG under Section 13(3) of the Federal Reserve Act.
9/16/2008: The net asset value of shares in the Reserve Primary Money Fund fell below $1 per share, primarily due to losses on Lehman Brothers commercial paper and medium-term notes. When the Reserve fund “broke the buck,” it caused panic among investors who considered money market accounts nearly the equivalent of bank savings accounts.
9/19/2008: To guard against a run on money market funds, the Treasury Department announced that it would insure up to $50 billion in money-market fund investments at companies that paid a fee to participate in the program. The year long initiative guaranteed that the funds' values would not fall below the $1 a share.
9/20/2008: The Treasury Department submitted draft legislation to Congress for authority to purchase troubled assets (the first version of TARP).
9/21/2008: The Federal Reserve Board approved applications of investment banking companies Goldman Sachs and Morgan Stanley to become bank holding companies.
All this in just one week!! An incredible moment in the history of this country, and it was only ten years ago.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
If you feel like things are more expensive, you are right. Despite a slightly weaker than expected inflation report in April, this year, prices have accelerated faster than Fed officials anticipated just a few months ago. Last week we learned that headline inflation increased to a 14-month high of 2.5 percent from a year ago in April, due in large part to rising gas prices. Excluding food and energy the core rate increased by 2.1 percent.
Worries about rising inflation have spooked stock and bond investors. As a reminder, inflation occurs when the prices of goods and services rise and as a result, every dollar you spend in the economy purchases less. The annual rate of inflation over from 1917 until 2017 has averaged just over 3 percent annually. That might not sound like much, but consider this: today you need $7,272.09 in cash to buy what $1,000 could buy in 50 years ago.
