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Jill on Money with Jill Schlesinger

When Do We Take the Hit on Taxes?

Jill on Money with Jill Schlesinger

Audacy

Investing, Education, Business, Self-improvement

4.61.9K Ratings

🗓️ 5 April 2022

⏱️ 14 minutes

🧾️ Download transcript

Summary

With a tax hit on the horizon for my non-qualified deferred compensation plan, do I take the hit all at once or spread it out over a few years?

Have a money question? Email us, ask jill [at] jill on money dot com.

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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 Show.

0:05.6

It's Tuesday, April 5th.

0:07.4

And we are here trying to help you take the next best step in your financial life.

0:14.2

And we try to do that by balancing what your goals and your objectives are with your economic

0:19.3

and financial realities.

0:20.8

And sometimes I get to be a dream maker and sometimes I get to be a dream crusher.

0:25.7

And Mark will usually take the other side of that.

0:27.8

Now I'm just kidding.

0:28.8

I really do want to try to help you do what you want to do.

0:31.2

We just want to make sure it's realistic and that you're not that you're not choosing

0:35.6

a path that will make it a lot harder for you in the future.

0:39.8

It's because sometimes the ideas that we have today, they're great, right?

0:43.3

Like, oh, I want to do this right now.

0:45.1

But then a few years later, you regret it.

0:48.4

Mark, I saw an interesting survey out and it said something like a quarter of the people

0:54.0

who switched jobs, regret switching jobs.

0:57.6

The grass is not always greener, but I think also that people are starting to realize

1:01.6

that yes, it is true.

1:03.4

I could make more money, but there may have been things in my other organization and my

1:07.5

previous organization that I really liked also.

1:10.6

And I do think that's important that before you make a big change, it's important to consider

1:16.0

what am I giving up, not just money, right?

...

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