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Have a money question? Email me here.
Should I Fire My Financial Advisor?
I'm so glad when people call me before they make another mistake with their current financial advisor. That's the case on the latest BONUS call with Joe from California, who thankfully was sensing that something wasn't quite right. This is a great call to learn from. If your gut is telling you something, get in touch with me!!
“Better Off” is sponsored by Betterment.
Have a money question? Email us here or call 855-411-JILL.
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Is My Advisor Charging Too Much?
Another great call this week to kickoff the show as we chatted with Cathy from Pennsylvania. Cathy is in great shape for retirement, but she has a sneaky suspicion that her advisor is charging her too much. Is he? Or is he charging a fair price?
We wrapped up hour one with the great email purge of 2018. I think at this point we're finally into May.
It’s hard to imagine how an argument between a couple of billionaires could make for a compelling story. But when it happens on live television, and it involves two major Wall Street heavyweights, it’s like watching a trainwreck that you just can’t pull yourself away from.
And that’s exactly what happened in 2013, when Wall Street titans Carl Icahn and Bill Ackman got into a legendary verbal battle on CNBC that centered around Herbalife, the company caught in the middle.
The host that day was Scott Wapner who unexpectedly found himself refereeing this 30 minute segment that became known as “The Brawl.”
It left such a mark on Wapner that he felt compelled to explore the roots of the battle by writing When the Wolves Bite: Two Billionaires, One Company, and an Epic Wall Street Battle.
This recently released compelling read recounts the story of the clash of these two titans over Herbalife, a nutritional supplement company whose business model Ackman questioned. Icahn decided to vouch for them, and the dispute became a years-long feud, complete with secret backroom deals, public accusations, billions of dollars in stock trades, and one dramatic insult war on live television.
In researching the book, Wapner gained unprecedented access to all the players and unravels this remarkable war of egos, showing the extreme measures the participants were willing to take.
It’s a classic Wall Street tale of money, power, pride and greed.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
When to Take Social Security
This week we kicked things off with Troy from Seattle who was wondering if he's being charged too much by his current advisor. Does he even need an advisor? I gotta say, this is quickly becoming a very common question on the show.
Next up was Kevin from Minnesota with the million dollar question of when is the right time to start taking Social Security? Great question, and also a very simple one to answer if you can give me one key piece of information...
If you’re working in an office environment, it’s hard to ignore the massive shift that’s taking place in the workplace. In today’s average company, up to 80% of employees’ days are now spent working in teams.
And yet the teams most people find themselves in are nowhere near as effective as they could be. They’re often divided by tensions, if not outright dissension, and dysfunctional teams drain employees’ energy, enthusiasm, and creativity.
How can we fix it? That’s where today’s episode comes into the picture, and our chat with Chester Elton, who along with Adrian Gostick, recently published The Best Team Wins: The New Science of High Performance.
Throughout the pages of their latest book, the duo share the proven ways managers can build cohesive, productive teams, despite the distractions and challenges every business is facing.
The pair studied more than 850,000 employee engagement surveys to develop their “Five Disciplines of Team Leaders,” explaining how to:
- Recognize and motivate different generations to enhance individual engagement
- Ways to promote healthy discord and spark innovation
- Techniques to unify customer focus and build bridges across functions, cultures, and distance
They’ve shared these disciplines with their corporate clients and have now distilled their breakthrough findings into a succinct, engaging guide for business leaders everywhere.
Throughout the pages you’ll find practical ways to address the real challenges today’s managers are facing, such as the rise of millennials, the growing number of global and virtual teams, and the friction created by working cross-functionally.
Have a money question? Email us here or call 855-411-JILL.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Do I Need a Financial Planner?
Retirement is approaching, and so far you've done a great job of planning for it on your own. Do you need to hire a financial planner or can you keep going solo? That's what Michelle was wondering on the latest BONUS call.
“Better Off” is sponsored by Betterment.
Have a money question? Email us here or call 855-411-JILL.
We love feedback so please subscribe and leave us a rating or review in Apple Podcasts!
Connect with me at these places for all my content:
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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.
I'm 50, How's My Retirement Plan + The Great-Grandson of President Taft
We started off the show this week with a great call from Lissette in New York. As she prepares to turn 50 in 2019, she wanted to run her retirement plan by us. Considering Lissette and her husband never made ridiculously large salaries, they're in pretty darn good shape. And turning 50 isn't all bad news...there's a great bonus that comes with it! If you don't know what it is, you're going to have to listen :)
In hour two we chatted with John Taft, the great-grandson of of President William Howard Taft.
Taft is Vice Chairman of Baird, an international employee-owned wealth management, capital markets, asset management and private equity firm overseeing $188 billion in client assets.
Prior to joining Baird, John served as CEO of RBC Wealth Management–U.S., Senior Advisor to Deloitte & Touche LLP; a member of the Board of Directors of the Columbia Threadneedle Funds, Segall Bryant & Hamill and The Clifton Group; President and CEO of Voyageur Asset Management; president and CEO of Dougherty Summit Securities; and as managing director at Piper Jaffray & Hopwood. Earlier in his career, John was assistant to the mayor of the City of St. Paul, Minnesota, and has worked as a journalist.
John serves on the Board of Securities Industry and Financial Markets Association (SIFMA), the leading securities industry trade group. He served as Chairman in 2011. As a representative of SIFMA, John has advocated for financial reform and testified before Congress in support of a federal fiduciary standard of care for investment professionals who provide advice to individual clients.
In his book, “A Force for Good: How Enlightened Finance Can Restore Faith in Capitalism” he has gathered more than 20 industry leaders to share their fresh perspectives on creating solutions for positive social outcomes and a sustainable financial future. John is also the author of "Stewardship: Lessons Learned from the Lost Culture of Wall Street," which explores the importance of stewardship as a core principle for financial services, as well as for society.
Have a money question? Email us here or call 855-411-JILL.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Should I Pay Down My Mortgage?
If you have some extra cash on hand does it make sense to try and pay off the mortgage early? That's the topic this week on the latest BONUS call as we chat with Nick from Milwaukee.
“Better Off” is sponsored by Betterment.
Have a money question? Email us here or call 855-411-JILL.
We love feedback so please subscribe and leave us a rating or review in Apple Podcasts!
Connect with me at these places for all my content:
https://twitter.com/jillonmoney
https://www.facebook.com/JillonMoney
https://www.instagram.com/jillonmoney/
https://www.linkedin.com/in/jillonmoney/
http://www.stitcher.com/podcast/jill-...
"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.
Fed in Focus
After stock markets powered forward (NASDAQ and Russell 2000 hit new all-time highs) and contentious trade talk continued, this week, the focus turns to the Federal Reserve. For the second time this year, policy makers are expected to raise short-term interest rates by a quarter of a percent to a new range of 1.75 to 2 percent. If so, it would be the sixth quarter-point bump since the current rate tightening cycle started in December 2015.
CFP® Pro Tip of the Week - June 8, 2018: Financial Literacy
Have a money question? Email me here.
Active vs. Passive Investing
Active versus passive investing has been a decades-long debate among long-term savers. The active argument is that with time, energy and analysis, investors can beat an index or basket of fixed securities. The passive credo is simple: reams of data support the notion that purchasing a fixed basket, like an index fund, within most asset classes, will produce superior returns over long time horizons.
Legendary investors like Warren Buffett, John Bogle (the founder of Vanguard) and Charley Ellis, have extolled the virtues of passive investing, because even if low cost, tax efficient active management does exist – and indeed there are some stars out there – most investors either blow up their own plans or choose expensive active managers that routinely underperform.
Although I have been an advocate of passive investing for a while, I also know that many people really want to try the active route. That’s why I invited two guests, both of whom are active acolytes from Investor’s Business Daily (IBD®) to help me try to guide those folks who are willing to take a stab at the active approach.
Chris Gessel directs the news, market, mutual fund, company and technology coverage that appears in IBD and Justin Nielsen is a member of the markets team at IBD. They say that if you have the itch, there are five critical questions that you must ask yourself:
1. Can you admit that you are wrong?
2. Do you like history?
3. Can you fight the urge to bargain shop?
4. Do you like to stick to rules or go with your gut?
5. Do you like to get your hands dirty or leave it to the experts?
Regardless of whether you have some experience or not, Chris and Justin recommend that you start with small amounts of money, in order to test out whether or not you have the discipline to do it.
If interested in joining Investor's Business Daily, you can click here for their current special offer.
Have a money question? Email us here or call 855-411-JILL.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.