BONUS call: Is Our Advisor Screwing Us?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 8 May 2018
⏱️ 9 minutes
🧾️ Download transcript
Summary
Okay, so here's the scenario...you're pretty certain your mom is getting screwed by her advisor...yet she doesn't want to hear your concerns. What do you do? How do you have the talk? Can she be convinced? That's the dilemma facing Diane from Indiana on the latest BONUS call. Have a money question? Email me here. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in Apple Podcasts. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ http://www.stitcher.com/podcast/jill-on-money https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2
Transcript
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| 0:00.0 | Welcome to the Benneroff Bonus Call of the Week. We are sponsored by Betterment, the largest independent online financial advisor. And remember, this is your opportunity to air any question that's on |
| 0:16.2 | your mind. It can be retirement. It could be investment. Maybe it's taxes. Maybe it's a real estate question. Whatever. Give us a holler. Let us know how we can help our email address |
| 0:28.1 | Ask Jill at better off podcast.com. Ask Jill at better off podcast. |
| 0:34.0 | com. |
| 0:35.0 | Today we've got Diane. |
| 0:37.0 | She's on the line from Indiana. |
| 0:39.0 | Hello Diane. |
| 0:40.0 | How can I help you? |
| 0:42.0 | Hi, Jill. |
| 0:44.0 | My father passed away about five years ago and he was a man who worked his whole life to build a portfolio. |
| 0:51.0 | He had a little over a million dollars when he died. And my mom, not knowing |
| 0:58.0 | what to do with it, put it with a financial advisor. So in the past four and a half years it has done a cumulative 10%. |
| 1:09.2 | Hold on. Was she taking money out? Are you including that? |
| 1:13.9 | We have that calculated. |
| 1:15.1 | He talked her to putting some additional money in. |
| 1:17.6 | And actually, she had like, she has some investments like in Vanguard in some other places. |
| 1:22.3 | So she has about 750,000 with him. |
| 1:27.1 | And we have calculated for taking money out |
| 1:29.9 | and money that she put back in. |
| 1:31.3 | So the closest we can come to is that it's about 10.5% cumulative over 4.5 years. |
| 1:38.0 | That's weird. I mean for these 4.5 years, was it very... |
| 1:41.0 | I know. Was she saying to him, |
... |
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