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Jill On Money: Taxes, LTC, Rent vs. Buy


How can you become a disciplined investor, who has a fool-proof system for taking profits? That question led off this weekend's show, as Andy from NYC tried to balance the desire to take gains that he has seen in his investments and good ol' greed! My tried and true solution to that one is rebalancing, which has proven to be mathematically efficient!

Phoebe, a 41-year old old single woman in New York, inquired about whether she needed long term care insurance. Her financial advisor had suggested that she lock-in affordable rates now, but is that the best strategy for her? See the various links below for more on this important topic!

Jennifer from LA had read the Fidelity Investments' study, which indicated that couples will spend $230,000 on medical expenses during retirement, not including nursing-home care. I give Jennifer a way to prepare for that looming cost...

Terry called while he was fishing in PA, with an interesting question: what's the best strategy for managing Social Security retirement benefits when both spouses work, but one earns considerably more than other?

Chris, who listens to the show on WTIC in Hartford, CT wondered whether he should pay down his 15-year mortgage with proceeds from the gains in his gold investments. We found a better use for the funds and commiserated about both being lovers of the yellow metal!

As Sherry prepares to sell her house, she wondered what repairs are worth the cost? Maybe Josh can buy her home, because although he wants to take advantage of low prices and cheap financing, he can't seem to find the right place.

I answered a slew of tax questions, because 'tis the season! if you have waited this long, you are in very good company: approximately 40 million Americans don't start preparing their taxes until two weeks before the filing deadline. The biggest mistakes that people make on their returns are: incorrect Social Security number; improper spelling of dependents' names; and getting too large a refund. Nearly 8 out of 10 filers get a refund (average of $3,000) and while some see this as "forced savings," I can only think of this as a interest-free loan to Uncle Sam. Don't forget that this year's deadline is April 18th--Happy Emancipation Day from Washington DC!

Here's a way to beef up your retirement savings and pay for those future medical expenses:}

Thanks to everyone who participated and of course to my producer Mark T. ("Mr. 18 percent"), who wants us all to know that he has already filed his taxes. If you have a financial question, there are lots of ways to contact the show:

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