Coronavirus: Should We Refinance?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 13 July 2020
⏱️ 8 minutes
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Summary
Welp, coming off a weekend in which we discussed all things related to the mortgage market, how do we begin the week? Yep, with a question about whether or not it makes sense to refinance.
Have a money question? Email me here.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill on Money coronavirus market update. It is Monday, July 13th. Hope you had a great weekend. And, you know, generally speaking, we just hope you really safe. Got to stop this whole spreading virus. Just I can't. I'm getting so anxious. |
| 0:21.9 | Everyone, calm down. |
| 0:23.9 | Be safe. |
| 0:24.6 | Let's start there. |
| 0:25.9 | If you have a financial question, don't hesitate to send us a note. |
| 0:30.8 | See, you can maintain your distance from us and we will still respond. |
| 0:34.9 | Ask Jill at jillonmoney.com. Ask jill at j Jillonmoney.com. Ask Jill at Jillonmoney.com. Jay writes, I'm a long-time |
| 0:43.7 | reader, and I've received good advice from you in the past. I have a question regarding |
| 0:48.8 | dividend-paying stock, specifically IBM. My $65,000 CD is ending soon. The past rate was 2%. So far, nobody I've seen is offering |
| 1:01.8 | anything better than a half a percent. And I can't afford to lose my nest egg. I've never invested in |
| 1:07.4 | the stock market because of the volatility. I did work for IBM over 20 years ago. |
| 1:12.6 | I've been receiving steady dividends on that stock that I purchased when I worked for them. |
| 1:17.1 | Recently, 50 shares got me $89 in quarterly dividend check. So I'm thinking of putting the CD money into IBM stock, |
| 1:25.1 | receiving quarterly dividends. If I did my math right, based on dividend payments |
| 1:29.4 | in the past, it's a no lose investment. Mark, is there anything that exists that's a no lose |
| 1:34.5 | investment? Mark says he wishes and his son, who is crying in the background, which you guys can't |
| 1:40.3 | hear, agrees. There is no such thing as a no-lose investment. All right, here's the deal. |
| 1:46.0 | He goes through, Jay goes through the whole thing. But I just want to be clear. Is this a safe |
| 1:51.9 | investment? Will the dividends continue? Jay is 62. He retired on disability. He just started |
| 1:57.1 | receiving his pension. So his pension plus his SSDI, $30,000 annually. There's no |
| 2:04.9 | significant cash. There's equity in my home. My income covers my monthly expenses and will for |
| 2:09.6 | the foreseeable future. Your thoughts, please. Jay, don't do this. Do not do this. Because, of course, |
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