Boomer Parents: It’s Time to Cough it Up | Money Moves
60 Minutes
CBS News
3.8 • 2.6K Ratings
🗓️ 1 July 2026
⏱️ 24 minutes
🔗️ Recording | Apple Podcasts | RSS
🧾️ Download transcript
Summary
There's no shortage of loud, TikTokified financial advice online. CBS' new podcast, Money Moves with Jill Schlesinger, is here to cut through the nonsense.
On episode one, Jill and her producer, Mark Talercio, discuss the so-called "great wealth transfer," where trillions of dollars are expected to pass down from Baby Boomers to their kids.
Plus, caller questions: Toby asks whether sterling silver jewelry is actually a worthwhile investment, and Dave wants to know whether taking a pay cut to improve his quality of life is financially realistic.
Subscribe to the Money Moves YouTube channel HERE.
Transcript
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| 0:00.0 | Hey listeners, it's Jill Schlesinger, CBS News Business Analyst and certified financial planner. |
| 0:05.3 | Today, I'm thrilled to share the first episode of my brand new podcast. It's called Money Moves |
| 0:11.3 | with me, Jill Schlesinger. Money Moves is a show that helps you take control of your financial life |
| 0:16.7 | with no jargon, no judgment, just actionable financial guidance. We're going to demystify your financial life and provide you with perspective on how to manage |
| 0:26.2 | your money and your emotions without losing your mind. |
| 0:29.5 | I've been answering financial questions for decades now and I want to do it with you. |
| 0:34.5 | If you have a question, just go to jillonmoney.com and click the contact us button. |
| 0:39.1 | We'll get you on the air. Here's the first episode of Money Moves. Enjoy. |
| 0:47.1 | Welcome to Money Moves. I'm your host, Jill Schlesinger. I'm a certified financial planner. |
| 0:51.9 | My co-host is Mark Tiller, also a certified financial planner, also my executive producer of my life. I just got the email this week that I have to pay my annual dues. Oh, is that right? To renew my CFP. Oh, it's expensive now. I'm going to guess it. You can you go down. I know. I think it's like 600 or 700 bucks now. Anyway, nice racket, CFP board. We're happy that we pass the test. We're never giving it up. Hey, gang, this is a program that tries to kind of help you along your financial journey wherever you are. So if you've got a question about something going on in your financial life, you need some help. Maybe it's a job-related issue. Maybe you're worried about technology. Maybe you are just trying to |
| 1:28.9 | figure out what's the next best step for you about a particular issue. Get in touch with us. Ask Jill |
| 1:34.6 | at cbs.com. We love talking to you about money and about complicated topics. Mark, I have bad news |
| 1:41.6 | for people who are hoping that their parents die soon. |
| 1:45.8 | Maybe, maybe. |
| 1:47.2 | I just want to say, so I was a financial planner in the 90s and the early 2000s, and we at that time were talking about this thing called the Great Wealth Transfer. |
| 1:57.0 | You've heard of it, of course, which is basically for a big segment of baby boomers and |
| 2:04.2 | Gen Xers that they would be passing wealth down to the next generation. And this was going to be |
| 2:12.6 | like a massive transfer of wealth from one generation to another. |
| 2:18.3 | It's like a waterfall. |
| 2:19.3 | It's a beautiful waterfall. |
| 2:21.3 | So here's the problem. |
| 2:23.3 | If you were counting on that money, it may not actually happen as much as you thought it would or as soon as you thought it would. |
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