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Jill on Money with Jill Schlesinger

Pay Off Debt or Invest?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.61.8K Ratings

🗓️ 22 October 2020

⏱️ 7 minutes

🧾️ Download transcript

Summary

So you've got some consumer debt and yet you're investing some extra cash on the side, causing your wife to think you're nuts. Is she right or wrong? 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 Podcast. It is Thursday, October 22nd and we are here

0:10.6

ready to answer your questions.

0:13.6

Don't forget if you've got any sort of financial issue on your mind,

0:17.2

shoot us an email, ask Jill at Jill on Money.com,

0:20.8

and don't forget to tell us whether you be willing and eager to come and join us through the phone lines.

0:29.0

It's not really the phone, but it is a miracle of technology.

0:32.0

And we would love to hear your voices.

0:34.0

So when you send those questions if you want to be on the air with us please just let us know

0:38.6

Mark will arrange for that.

0:40.5

All right this is from Sue who is talking about Roth investing, and she says,

0:45.8

thank you for all the great advice and information you provide between your

0:49.5

show and your newsletter. I appreciate all that you give it's inspiring. Well that's nice to say

0:54.9

thank you. Okay Sue goes on I'm planning to retire next summer at age 57 and

1:00.3

move from Alaska to the lower 48.

1:03.0

This will be postponed retirement where I won't start taking my retirement until I'm 60

1:08.0

to avoid a reduction in the amount of the pension, which will be 25 grand a year. It's annoyed me that the investments

1:15.4

are proportional in the thrift savings plan to some of my Roth which is in the

1:20.8

G fund. Once I leave my job I'd like to roll my Roth thrift savings plan to a Roth IRA.

1:27.0

It will be about $275,000. My question, what should I consider investing that Roth money in?

1:34.8

All right, let's hear more. So we got, remember the pension, 25 grand a year, right?

1:40.0

275 grand that's going to be in a Roth IRA. No debt. The house is going to be sold at about 400 grand.

1:49.6

1.8 million bucks in retirement accounts.

...

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