The 13 Mistakes: 13 - Timing the market 12 - No will, estate plan, power of attorney, health directive, etc. 11 - Wrong kind of insurance (home, life, etc.), or none at all 10 - Not planning for the care of your aging parents 9 - Saddling your kids with your money issues 8 - Indulging to much in early retirement 7 - Failing to protect your identity 6 - Taking on to much risk 5 - Buying a house when you should rent 4 - To much college debt 3 - Making $ more important than it is 2 - Taking financial advice from the wrong people (fiduciary duty or not) 1 - Buying financial products you don't understand
I will turn 50 this year. I thought we had life "on track", but mu husband suddenly died a few months ago. This podcast has been a huge help! My best advice to people in my situation: if at all possible, make NO big life decisions for at least 1 calendar year. Emotions and grief can be intoxicating...
I love this episode. Watching my parents, who have both handled their finances VERY differently, I started identifying some of the mistakes they were making that were talked about in this video. I definitely plan on learning from my parents past to ensure a different future for myself and my kids.
This is one of the most professional, interesting, informative podcast websites I have ever heard. This podcast had a lot of points that I wish I had heard a year ago. My father died in January and left behind zero information about anything. I had tried over and over for years to bring the topic up about what he wanted when he died. He avoided the subject every single time no matter how I approached it. His wanting to keep his head in the sand ended up dumping a lot of junk on the family. He had remarried, so it made it even more complicated with two families involved. Thank you for a great site.
Wait what, at ~29:50, the kids are complaining because she isn't giving her money away, so she sees a professional who undoubtedly charges her for the privilege, to have her wealth plundered in "baby steps. " Great advice :~/
Hi Paula, I enjoyed listening to your podcast & interview with Jill. Most of the advice & discussion topics I find useful & applicable. Having listened now to several of your podcasts I am beginning to get the gist that both you & your selected interviewees are very risk averse. Now please don't get me wrong, I am also risk averse to some extent but no where near to the extent that your podcasts put over to me. I think it may be a gender issue, that probably females are naturally more risk averse & males are in general probably more risk takers. I am male, but now a long way out of my risk taking youth & nearing retirement. Several of the 13-subject areas were answered with insurance, insurance for this, insurance for that, insurance for almost every unforeseen risk. I think you also might wish to balance the option of purchasing all this insurance with the negatives of insurance. Insurance costs money; ummm…. quite a lot of money. Insurance policies don't always pay out when you qualify for a payout (I've been there). Having worked for an insurance company on the inside, insurance management do as much as they can do to get out of paying out anything at all. Or reducing a payout to a minimal level & not in the spirit of insurance protection. By purchasing insurance you are paying for the many many insurance frauds, false claims, exaggerated claims. That money comes from your premiums. And lastly insurance is highly profitably for the insurance companies, their directors, senior management, shareholders (check out Warren Buffet if you don't believe me), luxury staff offices, company cars, sales commissions, etc, etc, etc. That profit & luxury also comes out of your premiums paid that you have worked hard for. After almost a lifetime of experience, I now purchase insurance only when I am legally required to (car insurance) & for everything else I have my house, savings & investments to buffer me from life's unexpected costly consequences. Then I don't cross-subsidise much of the above. Just my tuppence worth, please don't take any offence; I love you really. Regards to all, JohnnyK.
I totally agree with you. I only take out insurance on the things that I legally have to insure and self-insure for everything else with sinking funds/savings accounts.
It’s such a turn off when authors put other authors down in order to raise themselves up higher. I immediately lost interest in her book and lost interest in the interview. Keep it classy.
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The 13 Mistakes:
13 - Timing the market
12 - No will, estate plan, power of attorney, health directive, etc.
11 - Wrong kind of insurance (home, life, etc.), or none at all
10 - Not planning for the care of your aging parents
9 - Saddling your kids with your money issues
8 - Indulging to much in early retirement
7 - Failing to protect your identity
6 - Taking on to much risk
5 - Buying a house when you should rent
4 - To much college debt
3 - Making $ more important than it is
2 - Taking financial advice from the wrong people (fiduciary duty or not)
1 - Buying financial products you don't understand
I will turn 50 this year. I thought we had life "on track", but mu husband suddenly died a few months ago. This podcast has been a huge help! My best advice to people in my situation: if at all possible, make NO big life decisions for at least 1 calendar year. Emotions and grief can be intoxicating...
I love this episode. Watching my parents, who have both handled their finances VERY differently, I started identifying some of the mistakes they were making that were talked about in this video. I definitely plan on learning from my parents past to ensure a different future for myself and my kids.
Hey lets pool our resourses
This is one of the most professional, interesting, informative podcast websites I have ever heard. This podcast had a lot of points that I wish I had heard a year ago. My father died in January and left behind zero information about anything. I had tried over and over for years to bring the topic up about what he wanted when he died. He avoided the subject every single time no matter how I approached it. His wanting to keep his head in the sand ended up dumping a lot of junk on the family. He had remarried, so it made it even more complicated with two families involved. Thank you for a great site.
What about the appreciation in the house in the consideration of renting vs. buying?
My favorite episode yet
Everything Jill said was spot on. I spend the whole time nodding in agreement. :)
Jill is great!! I loved our conversation. :)
So good. Ugh, I need to have the aging parents talk.
Thanks Paula! Great insight, and Jill delivers it in a very clear and straightforward manner. thank you!
Thank you! Glad you enjoyed it! :)
Thank you, Paula! Great show...i
Thank you!!
Wait what, at ~29:50, the kids are complaining because she isn't giving her money away, so she sees a professional who undoubtedly charges her for the privilege, to have her wealth plundered in "baby steps. " Great advice :~/
Hi Paula, I enjoyed listening to your podcast & interview with Jill. Most of the advice & discussion topics I find useful & applicable. Having listened now to several of your podcasts I am beginning to get the gist that both you & your selected interviewees are very risk averse. Now please don't get me wrong, I am also risk averse to some extent but no where near to the extent that your podcasts put over to me. I think it may be a gender issue, that probably females are naturally more risk averse & males are in general probably more risk takers. I am male, but now a long way out of my risk taking youth & nearing retirement.
Several of the 13-subject areas were answered with insurance, insurance for this, insurance for that, insurance for almost every unforeseen risk. I think you also might wish to balance the option of purchasing all this insurance with the negatives of insurance.
Insurance costs money; ummm…. quite a lot of money.
Insurance policies don't always pay out when you qualify for a payout (I've been there). Having worked for an insurance company on the inside, insurance management do as much as they can do to get out of paying out anything at all. Or reducing a payout to a minimal level & not in the spirit of insurance protection.
By purchasing insurance you are paying for the many many insurance frauds, false claims, exaggerated claims. That money comes from your premiums.
And lastly insurance is highly profitably for the insurance companies, their directors, senior management, shareholders (check out Warren Buffet if you don't believe me), luxury staff offices, company cars, sales commissions, etc, etc, etc. That profit & luxury also comes out of your premiums paid that you have worked hard for.
After almost a lifetime of experience, I now purchase insurance only when I am legally required to (car insurance) & for everything else I have my house, savings & investments to buffer me from life's unexpected costly consequences. Then I don't cross-subsidise much of the above.
Just my tuppence worth, please don't take any offence; I love you really. Regards to all, JohnnyK.
I totally agree with you. I only take out insurance on the things that I legally have to insure and self-insure for everything else with sinking funds/savings accounts.
.
It’s such a turn off when authors put other authors down in order to raise themselves up higher. I immediately lost interest in her book and lost interest in the interview. Keep it classy.
Are u married