Personal Finance for High Earners | Jill on Money

On this episode of Jill on Money, Jill Schlesinger and Mark Talercio talk with John, who is wondering about balancing saving for his kid's education, early retirement, and how to best put his earnings to use. If you'd like to submit a question for Jill on Money, visit: www.jillonmoney.com/contact.
Jill is an Emmy and Gracie Award winning Business Analyst for CBS News and host of the Jill on Money podcast. For more from Jill, visit: www.jillonmoney.com/
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“Jill on Money” is a publication by Jill Schlesinger, the content creator. Jill Schlesigner is not an employee of Ritholtz Wealth Management. This podcast is for informational purposes only and should not be relied upon for investment decisions. Investing involves the risk of loss. Nothing in this podcast should be construed as a solicitation of an offer to buy or hold, an interest in any investment product.
The opinions expressed in this video are those of Jill Schlesinger and her guests. They do not purport to reflect the opinions or views of Ritholtz Wealth Management or its employees. Any recommendations or presentation of material therein do not imply the expression of any opinion whatsoever on the part of Ritholtz Wealth Management concerning the suitability or reliance on any financial topics discussed. The Compound and Friends is hosting “Jill on Money” videos for purposes of distribution for Jill Schlesinger through Wealthcast Media, an affiliate of Ritholtz Wealth Management. Wealthcast Media, from time to time, generates advertising revenues on its media channels and has agreements in place to share those revenues with content creators. Ritholtz Wealth Management is not a client or investor with Jill Schlesinger. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship, or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees.
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All opinions expressed by Jill Schlesinger on this website and on the “Jill On Money” radio show are solely Jill Schlesinger’s opinions and do not reflect the opinions of CBS News, its parent and affiliated companies or radio station affiliates. You should not treat any opinion expressed on this website or on the radio show as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of an opinion. Jill Schlesinger, CBS News, its parent and affiliated companies and radio station affiliates make no warranty as to the completeness or accuracy of any opinion expressed on this website or on the radio show, and any opinion expressed on this website or on the radio show should not be relied upon as complete or accurate. Before acting on any information on this website or on the radio show, you should consider whether it is suitable for your particular circumstances and seek advice from your own financial or investment adviser.
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[@rossmacintosh5652]

When Jill mentioned Diana Ross it reminded me of my Diana Ross story. In the 1980's I worked for an architectural design firm in Bermuda. One of my colleagues was sent out to a house to take some photos & measurements in preparation for some renovations. While at the property taking photos of the outside of the house he needed to crawl under some landscaping at the side of the property. That momentarily made him visible to the backyard of the adjacent property. Turns out in that yard there was a woman sunbathing topless! She saw him but he wasn't aware of her until she (still topless) started beating on him with a garden rake. Turns out she was Diana Ross vacationing there and seeing a guy with a camera crawling into the yard, she assumed he was a paparazzi there to get pictures of her. He managed to get away with only a few bruises & scratches but I don't think she ever learned he wasn't a paparazzi.

[@kimappreciateslife]

This gay couple’s kids are going to have a good life❤ ❤

[@ssun1218]

You both look great!

[@davidkane8573]

Jill’s a pro.

[@alanmarcero]

family pulls in 400k, maxes out all their accounts, the end. there, saved you 22mins.

[@nicholas5396]

😂😂

[@strella8112]

Long story short …

[@Bet-the-Over]

😂 true thank you

[@Bobventk]

Dual male households are income cheat codes

[@mich94762]

This was great!! First time listening/watching.✌🏼

[@TheCompoundNews]

Thanks for watching, welcome!

[@daveschmarder-1950]

I have a special pair of glasses for computer gazing. I took the bifocal prescription and found the values for the reading part, and then tweaked it for the distance between my eyes and the computer screen. I bought those from Zenni Optical. Love the show!

[@17713bb]

I invented computer glasses twenty something years ago. I had to MAKE my doctor create a prescription for computer focal length. With office work, reports etc. are used more at arms length rather than reading distance. For the past seven years, I have enjoyed having perfect eyes due to lens replacement due to cataracts. Now, office work is all about WFH.

[@lmankj]

Why lump sum reallocate to 529 when the market is making all time highs? Why not wait for a significant pull back and then reallocate??

[@williamharberts5514]

A couple of longish comments. First, get Duncan, Nicole or someone else to check the way your 'casts' show on the overall Compound website. All the other 'casts', be they Ask the Compound, Animal Spirits, Compound and Friends etc. list most recent to oldest from left to right. That way the most recent 'cast' shows on the left side without scrolling way to the right to see if anything is new. Jill on Money is the reverse. Your oldest 'cast' shows on the left side and you scroll way to the right to find the recent ones. A switch to match the other layouts would be an improvement. Second, the depth and breadth of your knowledge, expertise and experience showed to greatest advantage when you were on Ask the Compound with Ben and Duncan. That knowledge, along with your emphasis on simplicity in a portfolio coupled with investing and staying invested over time came through better on that show than it usually does on your own show. Might you be able to set up that sort of give and take or fill in the blanks that someone else left by making more/better/different use of Mark?

[@cuhullin3539]

Wait a minute; only 700 monthly free cash flow on a combined income of over 400k? 17k monthly expenses? Uh......boy you better learn how to pick stock cause 10% interest ain't gonna cut it for you.

[@chrisd6736]

That was shocking to me.

[@jchassin3311]

These videos need topic chapters highlighted.

[@kpapadop007]

Wearing my CFP hat: Keep doing what you are doing! Watch out the outfits in the Legal Plan benefit offered at your employer, some of them can hurt you. $700 per month per kid in 529 Plans is fine, keep at it. You will be finding out if they are college material in the coming years, private or state. At some point, stop and be okay with paying for a year or two out of pocket. Or maybe one does not go to college and you can transfer the other one's 529 Plan into it. Another loss for the active managers lol. They could use some advice to get the investment asset allocation polished me thinks. Maybe consider paying a fee only advisor for a one time consultation. Then again, with them doing their own backdoor Roth IRAs and feeling comfortable with a robo service...maybe not going to be a good fit. Again, keep doing what you are doing, enjoy the kids and the chaos of these years, stay healthy and keep going, well done!

[@boricua_in_wa]

🤟🏽

[@jgirl8008]

I don’t understand this episode. I feel like I didn’t learn much about personal finance besides understanding John’s personal wealth and spending habits. What is supposed to be the takeaway here for audience?

[@kamikazekeebler]

[@BitsOfInterest]

Jillionaire^2 edition 😂

[@ElN1N07]

can we get a Jill 'fahgettaboudit' tee?

[@TraeRoberts]

"I've just got too much money and I don't know what to do with it all"

[@rossmacintosh5652]

Kind of hard to relate isn't it? Jill should realise most of her audience just see these kinds of guests as humble bragging.

[@Zooby19]

So I guess this guy just came on the show to brag about himself?

[@endofquoterepeattheline7516]

Guess I can skip this one lol 🥲

[@Anonymous-ld7je]

Could be useful to your future self one day