debt

Should I Pay Off the Car Loan Early?

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We start the show this week with Devin from Pittsburgh who is wondering if it makes sense for him to use some of his cash savings to pay off his car loan. Sounds like a no brainer, right?

Next up was Katie from Omaha, who’s wants to start increasing her retirement savings, but isn’t sure which is the best vehicle to use. A deferred comp option? Backdoor Roth? Or a plain old brokerage account?

The email purge continues in hour two. We’re making a pretty good dent and hope to be caught by early September.

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CBS This Morning: Financial Spring Cleaning

A recent survey found almost nine out of 10 people set a money goal for 2019. The top priority: paying down debt, followed by better budgeting. I joined CBS This Morning to discuss why the start of spring is the perfect time to clean up your finances.

Have a money question? Email me here.

Student Loans, Debt Consolidation, Roth IRA

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Should I refinance my student loans? Is debt consolidation the best option? Should I be using a Roth IRA? Those are the latest questions we answered as we attempt to clear out the inbox!

“Better Off” is sponsored by Betterment.

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BONUS call: Student Loan Debt

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.

“Better Off” is sponsored by Betterment.

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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

100 Questions Every First-Time Home Buyer Should Ask

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 remember, the American Dream is still very much alive and achievable.  

“Better Off” is sponsored by Betterment.

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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

Inflation-Proof Your Life

Inflation-Proof Your Life

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.

Better Off BONUS call: Investment Property

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.

“Better Off” is sponsored by Betterment.

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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

Stock Market Correction: What to do Now

Stock Market Correction: What to do Now

We knew that a stock market correction was coming, but why then did everyone seem so shocked when it arrived on Februarys 8th? Corrections, defined as 10 percent drops from the recent highs (January 26th), usually occur every year or so. Until last week, it had been two full years since the major US indexes had corrected. In other words, we were overdue for a drop.