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Inheritances

Answers to Financial Questions with Alex Benke, CFP®

After receiving so many questions from "Better Off" listeners, we decided to devote an episode to answering a few. Alex Benke, CFP®, joined me to tackle a variety of issues, from planning for retirement to paying off student loans.

Articles by Jill Schlesinger

By Jill Schlesinger, CFP®
  |  Published: March 23, 2017

We like to mix it up and try new things every now and then on “Better Off.” Earlier this month, for the first time, we featured one guest (Jason Zweig) on back-to-back episodes.

This week, it’s another first for us, one that’s all about you, our awesome listeners. We’ve been getting so many email questions on a variety of topics that we decided to devote an entire episode to answering your questions.

Sure, I could do this on my own, but I thought it would be much more fun to have a partner in crime, so I borrowed Alex Benke, CFP®, from our sponsor, Betterment.

Alex Benke Better Off

Betterment recently announced new service plans that offer access to a team of CFP® professionals and licensed financial experts to help customers with their more complicated financial issues. We’re borrowing a page from that model and answering your questions!

We started off helping Stephen from Florida with retirement planning. Like many, Stephen feels he got a late start and wants to make sure he’s now on the right path.

Howard from Atlanta is in pretty good shape with a nice chunk of money socked away, but he wanted a second opinion to see if there’s anything he could be doing better or if there’s something he should stop doing.

Andrew from Illinois recently inherited retirement money after his father passed away. With the inheritance comes the responsibility of RMDs, taxes, etc. It can be a lot for someone to process, so Alex and I were more than happy to lend a helping hand to Andrew.

We finished up this episode with Peter in Michigan who finds himself in a common situation: He’s carrying a pile of student loan debt—as in a $200,000 pile—and he was wondering if it made more sense to increase his 401(k) contribution or put some extra cash toward the student loans. Here’s a tease… Alex and I had different opinions on this one. :)

I hope you enjoy this special episode. Maybe we’ll even start doing it on a more regular basis. I’ve always found that people love hearing other listeners’ questions because often they are wondering the same thing but hesitate to ask. Don’t be afraid! If you have a question, email our team at askjill@betteroffpodcast.com.

This article originally appeared on Jill Schlesinger’s LinkedIn.

Better Off” is sponsored by Betterment. For more personal finance tips and advice, connect with them on Twitter, Facebook and LinkedIn.

The opinions stated on the Better Off podcast are those of the host, Jill Schlesinger, and her guests. Any third-party links provided are offered as a matter of convenience and are not intended to imply that Betterment endorses, or is affiliated with the owners of or any information contained on those sites, unless expressly stated otherwise. Listen to a preview and subscribe to “Better Off” here.

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