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Jill on Money: IRA's, Pension Options, Annuities


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In a week that saw the federal budget battle heat up, most Americans and "Jill on Money" listeners were more concerned with managing their own financial lives. At least that's a topic over which we have more direct control!

We started the show with a question from Laura in CT (WTIC News Talk 1080), who wanted advice about when she should access the money she had saved in her son's 529 account. Fortunately, Laura had an even better option that killed two birds with one stone!

Valerie from Phoenix (KYCA The News 1490) asked about documentation for her husband's small business taxes, which opened the door to a conversation about the couple's retirement plans.

There were a bunch of great e-mails about the advantages and disadvantages of a traditional IRA vs Roth IRA; the use of spousal IRA's; and rules about what you can buy inside an IRA account.

The happiest caller was Paul from North Hollywood, CA (KFWB Talk Radio 980), who is retiring this week! His question centered on his pension options, all of which are awesome.

Norma already made her pension choices, but this retired teacher's broker suggested that she beef up her income with a variable annuity--gasp! Talking about retirement, Diane asked when she should take Social Security--I tried to convince her to wait a couple of more years!

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

Check out this quick video for a quick refresher on retirement investment options:}

Thanks to everyone who participated and of course to my producer Mark T. ("Mr. 18 percent"), who is fanning himself with his income tax refund check. If you have a financial question, there are lots of ways to contact the show:

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