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#360: Human Capital and the Making of Millennials

This week we're starting the show with Campbell in South Carolina who's wondering when it's time to start thinking about a home purchase. Keep in mind that Campbell is only in his 20s.

Next up was Allen from Dallas who wanted to run his 529 plan strategy by us.

Our final call of the hour was from Lisa in Washington. Lisa and her husband essentially gave up their lives to care for Lisa's parents, who have both since passed away, and are now wondering how to get their financial lives back on track. Great call that required two segments.

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Hour two this week is all about the millennials as we're joined by Malcolm Harris, whose recent book, Kids These Days: Human Capital and the Making of Millennials, does an excellent job of detailing the struggles facing the younger generation.

Millennials have been stereotyped as lazy, entitled, narcissistic, and immature.

But according to Harris, there are quite a few traits that really unite millennials, including:

  • Being the most educated and hard-working generation in American history
  • Pouring historic and insane amounts of time and money into preparing ourselves for the 21st century labor market
  • Millennials consider working for free (homework, internships) a privilege for their own benefit
  • Millennials are poorer, more medicated, and more precariously employed than their parents, grandparents, even great grandparents, with less of a social safety net to boot

One way or another, we're all connected to a millennial, so spread the word about this episode!

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CBS This Morning: Retirement Planning

About 65 million Americans are part of Generation X, and they will be the next generation to retire. A recent TD Ameritrade survey finds only 33 percent of Gen X workers expect to be "very secure" in retirement. Almost half worry about running out of money.

Ep. 056 - #MeToo, Workplace Equality and the Gender Gap

As the #MeToo movement sweeps across the world, it’s time for employers to address the issues of sexual harassment, workplace inequality and the gender wage gap.

After recently interviewing two experts in their respective fields, Leigh Gallagher from Fortune and author Jack Myers, here are some key ideas and trends that will help push the movement in the right direction:

  • HR departments will become increasingly more independent
  • Women will take jobs previously held by men
  • Organizations will need to teach, embrace and support young men coming into the workforce
  • Workplace mentoring programs will be instrumental to imbue companies with a culture that supports diversity
  • Women who develop characteristics of assertiveness, confidence and aggressive behavior, and who know when to use these behaviors, will find more success in the workplace

Let’s stop with the talk and move to action mode...it’s way past time to address these issues.

For more on the conversation, follow Leigh and Jack on Twitter. 

“Better Off” is sponsored by Betterment.

Have a finance related question? Email us here or call 855-411-JILL.

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

CBS Evening News: Trump to Push "America First" Agenda at Davos

President Trump is heading to Davos, Switzerland, to attend the World Economic Forum. The president's "America First" policies will contrast with what has typically been an event that champions globalization.

CBS Evening News: Trump Approves Tariffs on Foreign Solar Panels

President Trump is approving tariffs on imported solar-energy components and large washing machines in a bid to help U.S. manufacturers. The administration is imposing an immediate tariff of 30 percent on most imported solar modules, with the rate declining before phasing out after four years. 

Better Off BONUS call 049: Windfall Tax

I think it's safe to say that we would all like a windfall, right? Emili in Dallas, our BONUS call this week, is one of the lucky ones as she and her husband will soon be coming into a large chunk of money. But with that money comes a tax bill, something Emili wants to make sure she's properly prepared for, hence the call to us!

“Better Off” is sponsored by Betterment.

Have a finance related question? Email us here or call 855-411-JILL.

We love feedback so please subscribe and leave us a rating or review in iTunes!

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.

Why Don’t Investors Care About a Shutdown?

Why Don’t Investors Care About a Shutdown?

The Dow closed above 26000 and the NASDAQ finally topped its inflation adjusted high
last week, begging the question: Why don’t investors care about a government
shutdown? The answer may be that they don’t care about lots of risks that exist, but
more specifically, previous periods when Congressional impasses have lead to Uncle
Sam shuttering some of its operations, have not spelled Armageddon for stocks.

CFP® Pro Tip of the Week - January 19, 2018: Tax Prep Tips

#359 - Bond Boot Camp: What They Are and How They Work

A new year, a new website and the questions are pouring in!  

First up this week was Tom from New Hampshire who is looking to get his financial life in order.  It wasn't too long ago that it went a bit off track but with a new year, Tom has some benchmarks he's looking to meet and wanted to run them by us.  Next up was Erin in New Mexico who is going through a divorce and wants to make sure she's properly protecting herself.  We finished up hour one by answering a handful of email questions. 

On to hour two...

What’s a portfolio without a bond position? It’s incomplete and potentially riskier than necessary.

We field so many questions about your portfolios and asset allocation and while stocks may seem sexier because of their upside potential, you always hear me stress that everyone needs exposure to bonds as well.

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We rarely dive into bonds in great detail--what they are, how they work, and why you absolutely need them, which is why I thought it would be time for a little Bond Boot Camp. Our leader for this mission on today’s show is Justin Land, aka the ultimate bond guru.

Justin is the Director of Tax Exempt Portfolio Management at Wasmer, Schroeder & Company, an investment advisory firm based in Naples, FL.

In the current environment where it seems like the Dow is setting records on a daily basis, there’s probably a lot of people out there who want to be 100% invested in stocks. But what happens when the Bull turns into a Bear -- what will help protect you then?

What if I told you that by owning a bond position, you’d only miss out on a little of the upside, but in return, your downside would look far better when that eventual correction occurs. 

And make no mistake...it’s coming. It’s a matter of when, not if. 

After hearing this chat with the bond guru, if you don’t already, I hope you add some to your portfolio and start out 2018 on the right financial foot!

Have a finance related question? Email us here or call 855-411-JILL.

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CBS This Morning - What's Behind the Dow's Surge?

The Dow opened at a record high after soaring more than 300 points and closing above 26,000 for the first time. I joined Norah O'Donnell, Gayle King and John Dickerson on CBS This Morning to discuss the gains and how a looming government shutdown could impact the surge.