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Jill on Money with Jill Schlesinger

Coronavirus: Pay Off Debt?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.61.8K Ratings

🗓️ 5 April 2020

⏱️ 9 minutes

🧾️ Download transcript

Summary

With the financial world full of uncertainty, is now a good time to pay off some of those interest bearing loans? Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Jill on Money Corona virus Market update. It is Sunday morning.

0:08.9

I hope you are relaxing and resting and trying not to get too crazy about your money.

0:15.0

If you do have a financial question and you're listening to this and this jars you a little bit,

0:20.0

just send us an email. It's very easy. Ask Jill at Jill on money.com. Ask Jill at

0:26.2

on money. That's what Mark and I are here to do. We are here to help you out

0:31.0

during these very, very treacherous times.

0:35.2

So Madeline writes, wants to know about the stimulus check.

0:39.2

She says, my spouse died this year.

0:41.3

If I receive a check for $2,400, should I expect to be told to return half?

0:46.4

We are retired.

0:47.4

It will depend on the fact that my husband is no longer having a direct deposit check of Social

0:51.0

Security, and they'll know I'm single? I don't know. I haven't

0:55.3

gotten that question. I'm going to presume that if you get your $2,400 check

1:00.0

don't spend $2,400. Make sure you keep $1,200 because I'm sure you will have to return it on the other

1:07.2

side of this, which is next tax filing year. Joe writes that he's 34 years old. He's got $40,000 in his 401k.

1:15.0

The company I work for is in the travel industry and I have been let go.

1:19.0

Oh, I'm sorry Joe.

1:21.0

Should I roll my 401k into an IRA at this time considering the state of the market

1:25.8

or should I leave it where it is until the market recovers? Thank you in advance for your advice.

1:31.9

Well, Joe, you know, you're 34 years old so I think what I might

1:36.0

do is I would roll it over you might have a couple of days where you miss the market

1:40.9

moves whatever who cares?

...

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