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"Keep it simple, stupid" was the mantra drilled into my head when I became a commodities options trader way back when. I have carried that "KISS" with me throughout my career and it's particularly apt for this show. Coco from WA, Bill from NM and Linda from CA are all in varying degrees of great shape financially, so their calls were a delight to tackle. All I had to do was provide a few suggestions around the edges to help round out their allocations.
Linh, Elaine and Tony wrote in about investment and retirement account allocation. As always, if employees stick to a diversified portfolio of simple, low-cost index fund universe, they usually stay out of trouble.
Dee is withdrawing $3K per month from an $800,000 portfolio, a touch higher than I usually recommend. A safe withdrawal rate is somewhere between 3.5 and 4 percent of a portfolio's value, so I would suggest decreasing the monthly amount to $2500.
Finally, John and Ida asked about where to start learning more about controlling their financial lives. Check out Jack Otter's great book, "Worth it, Not Worth it" - a perfect way to familiarize yourself with a variety of money topics.
Here are web sites and resources mentioned in this week's show:
-- NAPFA: National Association of Personal Financial Advisors (fee-only advisors)
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: email@example.com
Tweet me: @jillonmoney
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