Tech giants including Amazon, Google's parent company Alphabet and Apple are celebrating record-breaking sales. I joined CBS This Morning to discuss what contributed to Amazon's massive increase in sales and why Apple was able to increase their revenue despite lackluster sales numbers.
CFP® Pro Tip of the Week - February 2, 2018: Backdoor IRA
Networking, 401(k) Rollovers, IRA and HSA
Plenty of solid calls this week on the Jill on Money show. We started with Molly in San Francisco who had some questions about 401(k) rollovers and stock options.
Next up was Scott from North Carolina with some interesting HSA questions. Scott clearly did his research before giving us a shout.
We finished up hour one with Sonia from California. Sonia's husband is preparing to return to the civilian world after a career in the military and she was wondering what their retirement game plan should be looking like at this stage.
It’s 2018 and that means that many of you have gotten on the resolution bandwagon. The most common ones are to exercise more/eat less; save more/spend less; and of course one of our favorites: SLEEP MORE!
Career objectives are among the most difficult to tackle. After all, if “Getting a New Job” were so easy, you probably would have done so already. Today’s guest in hour two is here to help kick-start your efforts.
Pat Hedley, the author of the recent book, Meet 100 People: A How-To Guide to the Career and Life Edge Everyone's Missing, says that whether you’re an introvert or extrovert, getting out there and meeting people is probably the biggest key to any success you’re going to have.
Of course you know this intuitively, but emails only go so far. To establish genuine relationships and to build a network with life-long value, we have to proactively meet people -- and do so IN PERSON. Pat explains three key issues that are critical to meeting people and expanding your network and she also covers:
- How to establish a network when you are starting out
- How to properly frame a job search
- The right questions to ask
- Why rejection isn’t a bad thing
If you -- or someone you know -- is unhappy at work and looking to make a change, maybe 2018 is the year.
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Universal Basic Income with Rutger Bregman and Roth IRA
Despite the fact that we are nearing the ninth year of a global economic recovery, poverty remains a problem.
In the United States alone, recent numbers from the Census Bureau show the rate to be just under 13% with more than 40 million people considered to be living in poverty.
Globally, more than 1.3 billion live in extreme poverty, meaning they subsist on less than $1.25 a day.
While there are no easy fixes, there are a few ideas that have been tossed around. Some that have been tried and proven, at least on a small scale, like the concept of Universal Basic Income (UBI), something that has very much interested me over the last couple years, as well as our guest this week, author, historian and TED speaker Rutger Bregman.
The basic concept revolves around the idea of all citizens of a country receiving a regular, livable and unconditional sum of money, from the government. You may think that this is a dressed up welfare program that will only encourage people not to work.
On the contrary, dozens of successful basic income experiments around the globe have proven that the vast majority of us actually want to do something with our lives -- we just need the means to get on our feet.
Check your negative knee-jerk reaction at the door and open yourself up to at least learning about UBI, which can be an investment that pays for itself.
After all, poverty in its current state is incredibly expensive and ineffective.
“Better Off” is sponsored by Betterment.
Have a finance related question? Email us here or call 855-411-JILL.
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CBS Evening News: Amazon, Berkshire, JPMorgan Tackle Health Care
Amazon, Berkshire Hathaway and JPMorgan Chase announced plans to create a new health care company aimed at tackling rising insurance costs. How could it impact the economy?
Better Off BONUS call: Retirement Planning
You're maxing out your 401(k) plan. You own a rental property that generates more than 2k each month. You have 150k in cash that's just sitting in the bank. You're only 36 years old. What should you do next? How do you put that 150k to work and how should it be allocated? That's exactly why Monica from Brooklyn gave us a shout on the latest BONUS call. Great call!
“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.
Work Longer
Five years ago, I wrote an article that warned not to place too much emphasis on the
ability to work longer to fund retirement. The risk was abundantly clear: just because
you want to keep toiling, does not mean that you will be able to do so. For some, there
will be physical limitations and for others, there may not be a job. That’s why nudges
like me encourage you to diligently save during your working years.
Dollar Dive
Treasury Secretary Mnuchin did not cause the recent dollar dive. His remarks
(“Obviously a weaker dollar is good for us as it relates to trade and opportunities”) at
the World Economic Forum in Davos were surprising, because government officials have
historically not been willing to acknowledge that when the value of the dollar falls, it
makes US exports cheaper. The result can be good for US manufacturers and can also
improve the trade balance.
CFP® Pro Tip of the Week - January 26, 2018: Target Date Funds
#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.
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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