Do I Need What I'm Being Pitched?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 18 February 2020

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

I'm saving a ton and feel like I'm in pretty good shape, but I'm being pitched a financial product by a former colleague, do I need it? My gut says no. That's the situation facing Pete from Denver. 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

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0:00.0	Welcome to the Jill on Money Call of the Week.
0:06.1	We're presented by Marcus by Goldman Sachs.
0:08.8	Do you have a financial issue that's kind of niggling at you. Something floating around in your
0:15.0	head, something keeping you up at night, doesn't have to be that severe, but it could
0:19.3	be anything remotely having to do with your money. If so, why don't you contact us? Send us an
0:26.7	email. Ask Jill at Jill on Money.com. That's Ask Jill at Jill on Money.com.
0:34.0	Just give us some details so we know what's going on and we'll be happy to either bring you on the
0:38.6	air or we'll answer your email.
0:41.2	That is what Pete did.
0:42.4	He is calling from Denver. Hey Pete, how are you? What can we do for you?
0:46.5	I'm good, Jill. Well, I reached out to you because someone was pitching an investment option for moving my IRA,
0:59.0	and I was like, this just doesn't feel right, and I have read your book and so I reached out to you and said what
1:06.2	do you think? All right so tell us a little bit about yourself and then tell us
1:10.3	what's being pitched to you.
1:12.8	So, 59, I'm the sole provider for the family, and I'm trying to figure out when I'm going to be able to retire and how comfortably and I've moved jobs
1:29.8	at you know from time to time about every six seven years so I've got a self-directed IRA with Schwab I kind of direct my investments myself because I wasn't happy with someone previously and so a friend of
1:46.6	mine works for his company and he's pitching me a good idea for the downside protection because I'm 59.
1:55.8	Okay, how much money is in the self-directed IRA right now?
2:00.3	Uh, 490,000. Great,000.
2:03.0	000.
2:04.0	Great.
2:05.0	How much money do you earn, Pete?
	...

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