Radio Show #127: Retirement, Social Security

The dog days of August? Not for “Jill on Money” listeners!

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Mark from KY asked about rolling over his wife’s old 401 (k), which has skyrocketed to $560K over the past 10 years. They don’t want to blow this nest egg and probably need the guidance of a fee-only advisor from NAPFA.org. We also got into a great conversation about what lump sum is necessary to generate sufficient retirement income.

Paul from NY has $60K in student loans outstanding, at a low interest rate of 2 percent. With a 3-week old son, should they aggressively pay down debt or start to save for other priorities?

Sheila from KY called to ask about the potential changes to retirement rules, especially in light of debt and deficit talk heating up again (get ready for a new debt ceiling battle in September!) David from MO is still working and weighing whether to take Social Security now, versus waiting until his age 70 ½, when he could maximize his benefit. This lead to a lengthier conversation about how the Social Security system could change in the future.

Jeff in MO is 27 and e-mailed about what he should do, now that he has finally gotten out of debt, while an anonymous e-mailer asked about a hybrid, indexed annuity. As many long-time listeners know, I am not a huge plan about these complicated products. Richard from KY is also getting back on his feet, and is now juggling retirement and college savings – which should come first?

We got a bunch of great retirement questions: Jim has $250K in his 401 (k) and his wife has $150K in her retirement plan. They are concerned about the impact of the changing bond market. Bob has $1 million portfolio and wants to know what changes he should be making to his portfolio, 4 years prior to retirement.

Kevin from TX has 10 properties, all of which are cash flow positive and some of which are paid off. He is trying to determine how the properties can be used to fund his retirement needs.

Scott from Boston asked about whether his employer could shift his bonus into a retirement plan contributions.

Thanks to everyone who participated and to Mark, the BEST producer in the world and Christina the intern, who finally returned from vacation. If you have a financial question, there are lots of ways to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 
Radio ShowMark Talercio401k, asset allocation, Investments, retirement savings, Rollover, Social Security, Student loans