BONUS call: Life Insurance
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 19 September 2017
⏱️ 14 minutes
🧾️ Download transcript
Summary
This week we have our longest BONUS call yet from Chris in Minnesota. Why was it on the longer side? Because Chris had some questions about the tricky world of life insurance products. Chris is currently using a product to save for college education and wanted to know if he should keep on doing what he's doing or if it's time to mix things up. Have a finance question? We want to hear from you! Email us at askjill@betteroffpodcast.com and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in iTunes. 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/ https://soundcloud.com/jill-schlesinger http://www.stitcher.com/podcast/jill-on-money http://betteroffpodcast.com/ https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Better Off Bonus Call of the Week sponsored by Betterment, the largest |
| 0:08.0 | independent online financial advisor. Remember you've got two chances every |
| 0:12.3 | week to get on the air. Today, |
| 0:13.7 | Tuesdays we drop the bonus call of the week and then on our longer show on |
| 0:17.4 | Thursdays we've got the listener question of the week which follows the |
| 0:21.0 | interview. Just give us a holler ask Jill at better off |
| 0:24.1 | podcast.com. Today we are going to Chris who's got a question which he knows I'm |
| 0:30.0 | going to already have a hard time with so So here we go. Chris, welcome to |
| 0:34.0 | better off. Why am I going to have a hard time with you, Chris? Well I don't |
| 0:38.9 | think you like the life insurance product so much. Yeah, I'm not a huge fan, but I don't want to throw the baby out with the bathwater either. |
| 0:46.3 | Give me an idea about why you're calling in and tell everybody the product in question. Okay, so a couple of years ago we've got both my wife and I have some very generous parents |
| 0:57.7 | and they started gifting us some money and round numbers it's about a hundred thousand dollars |
| 1:02.0 | a year and it's looking like we'll probably |
| 1:04.5 | be getting this money for a total of about seven years before they're retired. |
| 1:07.8 | I love your parents did I say that I love them. |
| 1:10.8 | So a hundred a hundred grand a year to you and your wife or to you your wife your |
| 1:16.9 | kids or how does the money come in exactly? It comes in basically 14 grand per head for my wife, myself, and our two boys and 14 times two for |
| 1:28.4 | each parent. So round numbers, 100 grand total coming in here. Gotcha. |
| 1:32.1 | And then yeah, so we're in year three. grand total coming in. Gotcha. Gotcha. |
| 1:33.0 | And then, yeah, so we're in year three right now and we had looked at, you know, 529 plans for the boys, |
| 1:39.5 | our oldest is 11 and didn't really like the restrictions with some of that and in my state here |
| 1:44.9 | there's no real advantages tax-wise to using any their programs and so we |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Audacy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Audacy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.