BONUS call: Retirement Planning
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 9 May 2017
⏱️ 8 minutes
🧾️ Download transcript
Summary
On the BONUS call this week we talked to John from Houston who had some questions about reducing his tax liability once retirement rolls around. John and his wife are in great shape...these guys are serious savers which has allowed them to sock away $700k in retirement savings with many years left to add to the pot. It was a success as we were able to open John's eyes about the benefits of using his Roth 401(k) plan at work. 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. I'm Jill Schlesinger, your host, and the Better Off podcast is sponsored by Betterment. Remember, twice a week, we have the ability to answer your questions. And this is the time where it is all about you and just think you're doing a public service because the question |
| 0:22.3 | you have is something that someone else is thinking about but they're a little less bold than you |
| 0:28.8 | and you can always give us a holler let us know what the question is and we'll get you on the air |
| 0:33.4 | live so just send us an email ask jill at betteroffpodcast.com. And remember, I am a certified |
| 0:40.3 | financial planner. In fact, I am now the CFP board senior ambassador. So I love answering |
| 0:45.3 | these questions. Mark has started the CFP classes. So he likes fielding these questions. And they're |
| 0:51.3 | really terrific for helping other people understand what's going on out there |
| 0:55.8 | and maybe make sense of little things going on in their own lives. So today we're talking to John. |
| 1:01.9 | He's on the line from Houston. Hello, John. Welcome to Better Off. What can I do for you? |
| 1:06.7 | Hi, Jill. So I'm looking at how to how to protect myself from taxes in retirement. So I'm evaluating either a Roth 401k or a indexed life insurance that I can take loans from. And I'm not sure which way to go. |
| 1:24.4 | Okay. Tell me a little bit about you and a little just about your family and what's |
| 1:28.5 | going on. Sure. So our income is about 350k. My wife's a teacher and we've recently paid off |
| 1:38.3 | our house so we're totally debt free. We have one, and we have some money about 60K and 529s. And then in terms of |
| 1:51.9 | other investments, we have 401Ks and 413Bs of around 265. We have a Roth IRA with about |
| 2:00.5 | 75K, another IRA with about 40K in it, 52 in |
| 2:05.6 | robo advisors, and then like about 180 in equity investments. Great. That sounds fantastic. |
| 2:13.5 | So it sounds like you're actually doing a really good job of putting money away. |
| 2:19.6 | Obviously, 350 grand a year is a lot of money, so I don't want to say that that's nothing. |
| 2:24.5 | But that is a good chunk of money. |
| 2:26.2 | But you're also doing a good job of saving. |
| 2:28.7 | So right now, what would you guess is your ability to save? |
| 2:34.1 | I presume that you're maxing out your retirement account. |
... |
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.