Love the show! Must commend Jack and his siblings for taking care of their parents. Thanks Jill and Mark for providing great content and advice we can all learn from.
Thanks Jill and Mark! Great episode. I’ve been a student of personal finance for a long while and never realized that you could gift shares and have the recipient pay capital gains the way you described or that you could avoid gift taxes by paying a medical bill directly. Thanks for the lessons and learnings!
Incredible in terms of a fairly detailed F&I guidance and work throughs. Some could consider this nuance advice, I personally like the trailing work arounds on investing in their parents retirement regarding tax implications. Probably a wonderful family. Who knows, overall great messages and thanks for sharing this.
Jack - gift your parents appreciated stock as they need it, then they can sell at their tax bracket. Assuming no other material sources of income for them, they could recognize up to $100k of gains federal tax free.
Jill spoke of being allowed to pay a parents medical bills without limits on gifts. What if his parents needed a new roof? Could he pay that direct bill or only medical bills without limits on gifts?
Only medical bills directly to provider, no limits on amount. Also, same applies to college bills but I think his parents are not likely going to college in their 60s lol.
800K left on the mortgage. While an interest rate of 2.5% is excellent it's still 2.5% on well over a half mil. No financial expert here, but hey maybe consider getting out from under the bank early.
Such International haters 😅 This guy already had the right allocation if you consider he's 32 and 100% stock, that makes his parents 50/50 with the other half, which is pretty conservative already.
Sometimes it seems like that. This 'Jill on Money' thing on The Compound is still fairly new and may not be getting many people asking questions yet. Perhaps eventually people with more average financial situations will seek their help and get featured.
@@personofnote1571 Ya! Not to brag but I'm 32 years old with $300k of family income and family net worth of $1,991,000 but $600k of that I need to figure out what to do with! I'm happy for him and I don't want to be the "hate mail" he spoke about but does this guy's "situation" really reflect the listeners of this podcast? Same can be asked about the earlier people addressed by earlier episodes.
You know you can be smart & successful without being a 32 year old with a $1,991,000 net worth. Starting to seem Jill needs to figure that out. I think she needs to address situations relatable to a wider audience.
You have many podcasts that cover basic finance. Savings, reducing debt etc. I think nuanced advice like this is important and valuable for people who have the basics covered and want to know how to optimize and manage larger sums. There isn't a lot of good nuanced information out there like this.
No kids, no goals or favorite charities. All right, being sure your parents are able to live a good life is a goal. I heard no goals for their parents like travel to see the wonders of this world. Is this wealthy couple supporting the arts or some other worthy cause?
Lucky for him, and his parents, to get that $600k. Invested in a simple money market at 5% interest would earn $30k per year, should easily cover all his parents expenses and still have the $600k to keep earning interest. Those that want lower interest rates, be careful what you wish for…
Love the show! Must commend Jack and his siblings for taking care of their parents. Thanks Jill and Mark for providing great content and advice we can all learn from.
Thanks Jill and Mark! Great episode. I’ve been a student of personal finance for a long while and never realized that you could gift shares and have the recipient pay capital gains the way you described or that you could avoid gift taxes by paying a medical bill directly. Thanks for the lessons and learnings!
really wish i listened to this stuff when i was younger.
I am so proud of this young man and his siblings.
Such a great show I really love this Jill is great!
Incredible in terms of a fairly detailed F&I guidance and work throughs. Some could consider this nuance advice, I personally like the trailing work arounds on investing in their parents retirement regarding tax implications.
Probably a wonderful family. Who knows, overall great messages and thanks for sharing this.
Great show! The California muni's is a great suggestion.
Please do the show on self employed!
Jill is awesome!
fantastic show
Jill is Good !
Wasn’t this caller already on the other podcast? At least release on the same day.
Jack - gift your parents appreciated stock as they need it, then they can sell at their tax bracket. Assuming no other material sources of income for them, they could recognize up to $100k of gains federal tax free.
Goals!!
I wear gloves and hat with coat even when it's 50 degrees 😂
I watch these just to hear Jill's voice not expecting to learn much, but damn sometimes I learn quite a bit.
Jill spoke of being allowed to pay a parents medical bills without limits on gifts. What if his parents needed a new roof? Could he pay that direct bill or only medical bills without limits on gifts?
Only medical bills directly to provider, no limits on amount. Also, same applies to college bills but I think his parents are not likely going to college in their 60s lol.
@@kpapadop007 Thanks!
800K left on the mortgage. While an interest rate of 2.5% is excellent it's still 2.5% on well over a half mil.
No financial expert here, but hey maybe consider getting out from under the bank early.
Such International haters 😅 This guy already had the right allocation if you consider he's 32 and 100% stock, that makes his parents 50/50 with the other half, which is pretty conservative already.
Iv got 10£ and £5 is in cash is that too much ❤
This podcast is for rich people problems
Sometimes it seems like that. This 'Jill on Money' thing on The Compound is still fairly new and may not be getting many people asking questions yet. Perhaps eventually people with more average financial situations will seek their help and get featured.
lol
Not to brag 😂
the best problems
@@personofnote1571 Ya! Not to brag but I'm 32 years old with $300k of family income and family net worth of $1,991,000 but $600k of that I need to figure out what to do with!
I'm happy for him and I don't want to be the "hate mail" he spoke about but does this guy's "situation" really reflect the listeners of this podcast? Same can be asked about the earlier people addressed by earlier episodes.
This podcast is for smart people's problems
You know you can be smart & successful without being a 32 year old with a $1,991,000 net worth. Starting to seem Jill needs to figure that out. I think she needs to address situations relatable to a wider audience.
You have many podcasts that cover basic finance. Savings, reducing debt etc. I think nuanced advice like this is important and valuable for people who have the basics covered and want to know how to optimize and manage larger sums. There isn't a lot of good nuanced information out there like this.
Parents are 64 and 71, and are “elderly”. Get a clue dude. Far from elderly.
I thought he was going say 90 and 92 lol. 62 elderly she should have 30 years at least to love if she is healthy.
Lucky couple but sad
No kids, no goals or favorite charities. All right, being sure your parents are able to live a good life is a goal. I heard no goals for their parents like travel to see the wonders of this world. Is this wealthy couple supporting the arts or some other worthy cause?
@@philipdamask2279 yeah that’s something but not enough
Lucky for him, and his parents, to get that $600k. Invested in a simple money market at 5% interest would earn $30k per year, should easily cover all his parents expenses and still have the $600k to keep earning interest. Those that want lower interest rates, be careful what you wish for…
eventually the rates will come down so best to take advantage of it now.
This should be on a separate channel