Trying to Help Mom and Dad

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 28 October 2020

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Taking care of your own financial life is hard enough, but what happens when mom and dad are in desperate need of some financial assistance? 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 Podcast. It is Wednesday, October 28th and we are
0:10.2	delighted that you are joining us. We are trying to take the crazy part of your
0:15.9	financial life, remove it from you, dismantle it, figure out what's best for you and
0:21.4	your family. That's what we do here. We are absolutely
0:25.1	hyper-focused, Mark and I, on trying to make you less stressful during what is
0:30.9	already a stressful time to get in touch touch with us all you have to do
0:34.7	is send an email ask Jill at Jill on money.com ask Jill at Jill on money.com and great news we are now setting up phone interviews, really not phone but
0:47.5	computer-based interviews so I could hear your voice and you could hear mine.
0:51.0	Today we have Alex who is on the line from New York.
0:55.8	So Alex, welcome to Jill on Money.
0:59.1	What can we do for you today?
1:00.6	So I'm calling to help my mom figure out her financial stuff or both
1:05.9	my parents really. My mom is a retired jag and my dad is a high school teacher
1:11.8	but he's been out of work for a couple years.
1:14.8	So they've fallen into a lot of credit card debt.
1:17.2	They're still raising my three younger brothers at home.
1:19.6	In January, they just kind of hit the bottom.
1:22.0	They completely filled all their cards and they didn't really have any options
1:24.7	They've been borrowing money for me about 5,000 for bills since January and another 5,000 to buy a service dog for one of my brothers.
1:34.7	When my mom found out you could take money out of your retirement accounts during COVID, she
1:39.3	did that because she wanted to pay me back.
1:41.6	And I obviously think that's not a good future plan.
	...

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