Jill on Money: Ignore Suze Orman and Dave Ramsey?

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What if everything you thought was true about the personal financial industry wasn't? Author Helaine Olen has written a terrific book "Pound Foolish: Exposing the Dark Side of the Personal Finance Industry" that confirms many of your worst fears. She says Suze Orman doles out contradictory advice; Dave Ramsey continues to peddle 12 percent stock market returns; and so-called financial planners are often conflict-ridden salespeople who don't put their clients' first.

Maybe that's why we often field questions from listeners who work with advisors and want a second opinion. Paula from KY works with a CFP who thinks she might need long term care--does she? Meanwhile Joe from KY is paying 1 percent to Smith Barney to manage an old retirement and is wondering whether they deliver enough value to justify the cost.

Paul from TX has accumulated a $4 million nest egg that is mostly invested in tax-free bonds. Should he add other asset classed to the mix? Although his asset base is a tenth of Paul's the retirement planning steps are exactly the same for Dale from NY, who has $400K in various accounts. I help him calculate future retirement income, which will influence when he decides to retire.

Susan wrote about converting some of traditional IRAs into a Roth IRA. The answer is a bit more complicated because she has a daughter who will be applying for college financial aid.

Michael wants to know the difference between mutual fund share classes. Remember that even if you are investing with a no-load fund company, there still may cheaper share classes available for investors whose accounts meet minimum-balance requirements.

Here are web sites and resources mentioned in this week's show:

-- Jill's Blog

-- How to Choose a Financial Advisor: 10 Questions

-- NAPFA: National Association of Personal Financial Advisors (fee-only advisors)

-- Best CD Rates

-- E, EE and I Savings Bonds

-- The ABCs of Annuities: 6 Questions to Ask

-- The Pros and Cons of Annuities

-- Immediate Annuity Calculator

-- Annuity salespeople don't like me

-- Social Security: Manage your account online

-- Social Security estimator

-- When to take Social Security?

-- Social Security: File and Suspend

-- Social Security: Double-Dipping

-- Medigap insurance

-- Retirement Calculator

-- Retirement Plan Required Distribution Calculator

-- Long-term Care - US government web site

-- Long term care conundrum

-- Life Expectancy Calculator

-- Life Insurance calculator

-- Financial documents: What to shred, what to keep

-- Estate Planning: the Documents You Need

-- NYT Rent vs. Buy Calculator

-- Re-Fi Calculator

-- Another Re-Fi Calculator

-- Reverse mortgage info via HUD

-- Reverse Mortgages: Don't let the Fonz sell you

-- 529 plan info

-- College Loans: What you need to know

-- Student Loan Consolidation

-- National Foundation for Credit Counseling

Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:

Call 855-411-JILL and we'll schedule time to get you on the show LIVE

Send an email: [e-mail]

Tweet me: @jillonmoney

Post a comment on this blog

[willimmojena]

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[joelsup]

This Helaine Olen sounds like a total idiot. She didn't give one word of actual advice, all she did was coddle people and further propagate the decline of personal accountability in this country. I was waiting for her to say something that would help people to get control of their finances and a better life, but she basically just said that one is doomed to a life of poverty, and if you aren't rich now you will never be so just give up. Who is this helping? I understand bad things happen to good people and it isn't always your fault if you can't make it in this economy; but MOST people CAN do things to alter their financial security, and to say that educating people and children on money is waste of time is just a dangerous concept and I don't see who it is helping. She should be ashamed, as should Jill for having her on her show and not tearing her a new one.