Jill on Money: Retirement, investing, credit

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Pssst...want to know the dirty secret of the financial world? None if it is that complicated--really! As you listen to this week's radio show, keep that little nugget in mind.

Our first few callers were concerned with retirement. Robert from Seattle is a 28-year Navy veteran, who is just a couple of years before mandatory retirement. Should he pay off his home mortgage with his accumulated nest egg before he retires? Mark from Washington is 57 and has been teaching for 29 years and wants to make sure that he is on the right track with his pre-retirement strategy. Meanwhile,

Donna in CT has $100K of company stock in her $1 million 401K. She wants to know the tax advantages of holding an individual stock when you roll over a retirement account into an IRA.

I asked credit expert John Ulzheimer, President of Consumer Education at SmartCredit.com, to join the show to discuss how parents can send kids off to college with ample emergency credit without endangering parents' credit scores. For the record, John is not a fan of a pre-paid debit card. He prefers a secured credit card or making your kid an authorized user of your card.

John provides a great way to talk to your kids about building a credit history, how bad credit can be a career killer and he also gives great tips on managing your credit score. For those who are just securing their first credit cards, John warns not to comparison shop based on interest rates--after all, you don't want to be the kind of consumer who carries a balance, right? Instead, select your card based on rewards, usability and customer service.

We finished the show with Brett in IL, who needs advice on 2 whole life policies and Lori, who essentially needs a full financial plan.

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

-- Jill's Blog

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

-- John Ulzheimer's blog

-- Long term care conundrum

-- Retirement Calculator

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

-- Estate Planning: the Documents You Need

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: askjill@moneywatch.com

Tweet me: @jillonmoney

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    Jill Schlesinger, CFP®, is the Editor-at-Large for CBS MoneyWatch. She covers the economy, markets, investing or anything else with a dollar sign. Prior to the launch of MoneyWatch in 2009, Jill was the chief investment officer for an independent investment advisory firm. In her infancy, she was an options trader on the Commodities Exchange of New York.

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