Money Doesn’t Always Solve Anxiety

Summary

Summary of "Money Doesn’t Always Solve Anxiety" Episode of Jill on Money with Jill Schlesinger

Podcast Information

• Title: Jill on Money with Jill Schlesinger
• Host/Author: Audacy
• Episode: Money Doesn’t Always Solve Anxiety
• Release Date: February 7, 2025
• Description: In this episode, host Jill Schlesinger delves into the intricate relationship between wealth and personal anxiety. Through an in-depth conversation with listeners Jason and Karen from Hawaii, Jill explores how substantial financial assets can both alleviate and contribute to personal stress, offering actionable insights for managing wealth effectively.

---

Introduction: Setting the Stage for Financial Conversations

[02:26] Jill Schlesinger:

"Welcome to the Jill on Money show. It's Friday, February 7th, and we are here answering financial questions that you have for us."

Jill Schlesinger opens the episode by welcoming listeners and outlining the show's mission to tackle a wide array of financial questions. She emphasizes the program's commitment to addressing topics ranging from taxes and real estate to retirement and education funding.

Guest Introduction: Jason and Karen from Hawaii

Jill introduces the episode's guests, Jason and Karen, a couple from Hawaii curious about future home purchases and asset allocation. Their arrival on the show sets the stage for a detailed discussion about managing significant financial assets amidst personal and environmental factors.

[03:46] Jason:

"It is a great place to live, but it's also a little island in the middle of nowhere."

Jason offers a candid perspective on living in Hawaii, highlighting both its idyllic setting and the challenges of its geographic isolation. This balance reflects the couple's nuanced approach to financial planning.

Deep Dive into Financial Status

The conversation shifts to Jason and Karen's substantial financial portfolio, revealing significant holdings in both taxable and retirement accounts. Their financial stability prompts Jill to provide tailored advice on asset management and risk mitigation.

[05:06] Jill Schlesinger:

"Wow. Okay, that's a lot."

Jill expresses surprise at the couple's impressive income and assets, setting a respectful and admiring tone as they delve deeper into their financial details.

Overview of Assets:

• Cash: $75,000
• 529 Plan (Education Savings): $415,000
• Brokerage Account:
  • Index Funds and ETFs: $3.2 million
  • Individual Stocks: $11.3 million
• Retirement Accounts:
  • Tax-Deferred: $2.7 million
  • Roth IRA: $555,000
• After-Tax IRA: $330,000

Asset Allocation and Management Concerns

Jill scrutinizes the couple's heavy investment in individual stocks, particularly a substantial position in Nvidia, raising concerns about overexposure and the potential for significant capital gains taxes upon liquidation.

[07:38] Jason:

"Well, let's just say that both me and my parents are first generation folks and I think we're a family of squirrels."

Jason humorously implies a strong inclination toward saving and investing, which has significantly contributed to their current wealth.

[08:07] Jill Schlesinger:

"How happy are you doing that? Would you be comfortable managing it if something horrible happened to Jason?"

Jill raises a crucial point about the sustainability of their current asset management strategy, emphasizing the importance of having contingency plans and professional assistance.

Strategic Financial Advice

Jill offers comprehensive advice, suggesting diversification of the portfolio to mitigate risks associated with heavy reliance on a single stock. She advises selling portions of the Nvidia holdings to reduce tax liabilities and improve overall asset allocation.

[10:03] Jason:

"I think that that's the most reasonable. But we kind of get stuck between, should we try to keep this house and rent it?"

Jill addresses the couple's indecision about selling their current home versus renting it out, ultimately recommending against becoming landlords to simplify their financial situation.

[12:57] Mark Tularsio:

"You're Great."

Mark, the executive producer and co-host, echoes Jill's sentiments, reinforcing the couple's commendable financial position while subtly emphasizing the need for strategic adjustments.

[13:06] Jill Schlesinger:

"So why not? Okay, you want to have an Nvidia position? You did incredibly well."

Jill acknowledges the success of their investment in Nvidia but maintains that reducing this position is prudent to balance their portfolio and manage tax implications effectively.

Addressing Anxiety Amid Wealth

The episode's core theme revolves around how significant wealth can lead to anxiety, especially when decisions about asset management and future planning come into play.

[14:35] Jason:

"I'm not entirely sure if I know myself. I had always kind of thought this money wasn't anything I would really need for a long period of time. And I was fine with being fairly risky."

Jason candidly shares his evolving feelings about wealth, reflecting a common sentiment where substantial assets bring both security and uncertainty about future needs.

[14:56] Jill Schlesinger:

"I would say that it is obviously a situation here where we can convince you easily that you can do whatever you want to do, but you have to give yourself permission to do it."

Jill empathetically addresses the psychological aspect of wealth management, encouraging the couple to embrace their financial freedom while maintaining prudent oversight.

Recommendations for Future Planning

Jill emphasizes the importance of engaging with a fee-only financial planner to create comprehensive retirement and estate plans. She suggests leveraging financial advisory services to navigate complex decisions, ensuring that their wealth continues to work for them without causing undue stress.

[17:41] Jason:

"Yes."

Acknowledging Jill's recommendation, Jason affirms their intention to consult with a financial advisor, highlighting the proactive steps they are willing to take to manage their wealth effectively.

Exploring Charitable Giving

The discussion extends to philanthropic endeavors, with Jill proposing the establishment of a donor-advised fund. This strategy allows the couple to manage their charitable contributions tax-efficiently while supporting causes they care about.

[18:38] Jill Schlesinger:

"If you were to put your Nvidia position into a donor advised fund, you would get a full $1 million write-off of the money that you put into the donor advised fund and pay no taxes on it."

This advice not only offers tax benefits but also aligns with potential personal values, providing a meaningful way to utilize their wealth beyond personal gain.

Concluding Insights: Embracing Financial Well-being

Jill wraps up the conversation by reinforcing the couple's strong financial foundation and encouraging them to enjoy their success responsibly. She underscores the importance of balancing wealth with personal happiness and security.

[20:16] Jill Schlesinger:

"This is something that's a really wonderful thing if you think about like your Nvidia position and you can say, okay, well my cost basis, let's say I'm into it, that's a million dollars. Let's say you invested 100,000 into Nvidia and it's worth a million."

Jill highlights practical steps the couple can take to manage their investments, ensuring their wealth continues to support their lifestyle without becoming a source of anxiety.

Conclusion: Empowering Listeners to Manage Wealth Wisely

Jill concludes the episode by extending her gratitude to Jason and Karen, emphasizing that regardless of one's financial status, effective asset management and strategic planning are crucial for financial well-being. She encourages all listeners to assess their financial situations critically and seek professional guidance when necessary.

[22:26] Karen:

"On Campus Files we cover everything from rigged admissions to the drama of Greek life."

Although this line pertains to a different segment, it underscores the show's commitment to addressing diverse and often challenging topics, reinforcing its role as a trusted financial advisory platform.

---

Key Takeaways:

1. Diversify Investments: Avoid excessive concentration in individual stocks to mitigate risk.
2. Plan for Contingencies: Establish comprehensive estate and retirement plans to ensure financial security.
3. Seek Professional Advice: Engage with financial advisors to navigate complex asset management decisions.
4. Leverage Philanthropy: Utilize donor-advised funds for tax-efficient charitable giving.
5. Balance Wealth and Well-being: Strive for a harmonious relationship between financial success and personal happiness.

Notable Quotes:

• Jill Schlesinger [08:07]: "How happy are you doing that? Would you be comfortable managing it if something horrible happened to Jason?"
• Jill Schlesinger [14:56]: "You have to give yourself permission to do it."
• Jill Schlesinger [18:38]: "If you were to put your Nvidia position into a donor advised fund, you would get a full $1 million write-off of the money that you put into the donor advised fund and pay no taxes on it."

This episode of Jill on Money with Jill Schlesinger provides a nuanced exploration of the interplay between wealth and anxiety, offering listeners valuable insights into managing substantial financial assets while maintaining personal well-being.

Transcript

[Jill Schlesinger]

Hey gang. When some of you come on the.

[Mark Tularsio]

Program, you know that we'll focus on.

[Jill Schlesinger]

Certain building blocks of a financial foundation.

[Mark Tularsio]

One of those is life insurance. And the reason is it's just so easy to do this to protect your.

[Jill Schlesinger]

Family by looking at life insurance.

[Mark Tularsio]

And who better than Policy Genius to hold your hand through the process? Policy Genius makes finding and buying life.

[Jill Schlesinger]

Insurance simple, and it ensures that your.

[Mark Tularsio]

Loved ones have a financial safety net that they can use to cover debts and routine expenses or even then invest.

[Jill Schlesinger]

Money that could earn interest over time.

[Mark Tularsio]

So they can reach their financial goals. With policygenius you can find life insurance policies that start at just $292 per year for $1 million of coverage. Some options are 100% online and let you avoid unnecessary medical exams.

[Jill Schlesinger]

PolicyGenius allows you to compare quotes from.

[Mark Tularsio]

America's top insurers side by side for free with no no hidden fees.

[Jill Schlesinger]

And they've got a licensed support team.

[Mark Tularsio]

That will help you get what you.

[Jill Schlesinger]

Need fast secure your family's tomorrow so.

[Mark Tularsio]

You have peace of mind today.

[Jill Schlesinger]

Head to policygenius.com to get your free life insurance quotes and see how much you could save. That's policygenius.com for decades, real estate has.

[Mark Tularsio]

Been a cornerstone of the world's largest portfolios. But it's also historically been complex, time consuming and expensive. But, but imagine if real estate investing was suddenly easyall the benefits of owning real tangible assets without all the complexity and expense. That's the power of the fundrise flagship real estate fund. Now you can invest in a $1.1 billion portfolio of real estate starting with as little as$10.4700 single family rental homes spread across the booming Sunbelt. 3.3 million square feet of highly sought after industrial facilities. Thanks to the E commerce wave, the Flagship fund is one of the largest of its kind, well diversified and managed by a team of professionals. And now it's available to you. Visit fundrise.com jillonmoney to explore the fund's full portfolio. Check out historical returns and start investing in just minutes. Carefully consider the investment objectives, risks, charges and expenses of the fundrise flagship fund before investing. This and other information can be found in the Fund's [e-mail] Flagship this is a paid advertisement.

[Jill Schlesinger]

Welcome to the Jill on Money show. It's Friday, February 7th and we are here answering financial questions that you have for us. Now. This can be wide ranging. It could be a tax question, it could be a real estate question, it could be a retirement question, it could Be an education funding question. It could. Anything that's on your mind that has a dollar sign attached to it. Maybe it's a homeowner's insurance question. Boy, you got getting a lot of information about that after the California wildfires. So whatever's going on, we are here for you. We is me, Jill Schlesinger, CBS News business analyst and cfp. And Mark Tularsio, who is also a certified financial planner, is the executive producer. And we love hearing from you. All you need to do is go to our website, jillonmoney.com, click the contact us button, which is in the upper right hand corner. And of course, let us know if you want to join us on the air live by checking the box. All right, so listen, it's cold, it's February. You know what I want to do? I want to talk to people who live in a warm, delightful place. We've got Jason and Karen on the line who are in Hawaii. Guys, does it ever get boring living in Hawaii? You can tell us the truth once in a while. Come on. No way. You live in Hawaii. You live in paradise, man.

[Jason]

It is a great place to live, but it's also a little island in the middle of nowhere.

[Jill Schlesinger]

Okay, fair enough. I never thought of it that way. You're right. It's like me saying I love New York, but sometimes it's just like I gotta get the heck out. So what brings you guys to our airwaves today?

[Jason]

Well, we're both short time listeners, although we've done a lot of listening in that short period of time. And we just have some questions about how we're doing. Maybe possibly a future home purchase and a little bit of asset allocation.

[Jill Schlesinger]

Okay, well, you're living in the wrong state to buy a home, but. So maybe you'd like to move someplace else. Can I interest you in Louisiana? No. Okay, tell us about what's going on for you. You guys both working full time?

[Jason]

I work full time. My wife works part time.

[Jill Schlesinger]

Okay. How old are you, Jason?

[Jason]

I am 49, 50 this year.

[Jill Schlesinger]

Oh, that's exciting. And Karen, are you going to speak or you're going to let him speak? I'm going to let him speak. I'm listening. Taking notes. Oh, I love that. I am the corporate secretary. I like that. And how old is Karen?

[Jason]

48.

[Jill Schlesinger]

Okay, you got that right. So that's good. Do you guys have kids?

[Jason]

Yes, 19 year old.

[Jill Schlesinger]

Okay. And what's your combined income, Jason?

[Jason]

Combined is about $500,000.

[Jill Schlesinger]

Wow. Okay, that's a lot. And you Rent. Because you said you want to buy a house.

[Jason]

No, we own currently. We're thinking possibly of moving.

[Jill Schlesinger]

Oh, okay. Tell us about the house. How much is it worth?

[Jason]

The house is about $2,500,000. Hawaii. Prices like, you know, are crazy.

[Jill Schlesinger]

I know. Do you have a mortgage outstanding?

[Jason]

We owe 280,000. It's a 15 year mortgage at 2.125.

[Jill Schlesinger]

You don't want to give that up, do you?

[Jason]

It's still a little tough.

[Jill Schlesinger]

Okay, well what would we have to buy to make you happy?

[Jason]

Essentially any house in the state that we'd want to live in is pretty close to about the same price. Same price. Maybe even a little bit more.

[Jill Schlesinger]

All right, so should I plan? Let's try to do this. Should we plan on 3 million? Is that the right price? Okay, so it would be a $3 million purchase to get the house. Like you're, you're. I'm not going to hold you to it, but I'm going to call it the forever house. The house you really want to be in for a considerable period of time. Yes, yes, yes. Okay, fair enough. Okay, so on your half a million dollars, I presume you've got a bunch of money. I'm going to. Usually I start with retirement, but I'd like to start with non retirement assets. What do you guys have that floating around?

[Jason]

About 75,000 of cash. We have 529. Okay, that's 415,000.

[Jill Schlesinger]

I think that's you're done. Are you having other children?

[Jason]

Yeah, no, that we've stopped. I really tried to front load it.

[Jill Schlesinger]

You did, you did that. Mission accomplished. Okay, so cash 529. What's next? What do you got?

[Jason]

We have a brokerage account.

[Jill Schlesinger]

How much is in there?

[Jason]

The brokerage account is split into index and stocks and the index and ETFs are about 3.2 million. Yes, thank you. And then the stocks are about 11.3 million. What million? And please keep in mind that Mark.

[Jill Schlesinger]

By the way, he was like young couple ish house thing. I'm like, oh no. Okay, here we go. So we have indexes, index ETFs, and we have stocks. I'm going to keep in mind that like some, for some reason you guys just happened to like fall into this. Did you inherit money or did you work at a company where you got a ton of stock? Like, tell me, where did the money come from? For real?

[Jason]

Well, let's just say that both me and my, my parents are first generation folks and I think we're A family of squirrels.

[Jill Schlesinger]

That does not explain this amount of wealth. A couple weeks ago, we had Ed from Philly with 10 million and Jason just blew right by him. Yeah. Goodbye, Ed. Okay, so how much? Okay, so let's just go through this. Brokerage, stocks, you know. Is 14 and a half million dollars accessible to you guys? Okay.

[Jason]

Yep.

[Jill Schlesinger]

Next. What else you got, boy?

[Jason]

What else do we have?

[Jill Schlesinger]

Retirement.

[Jason]

The rest is in retirement.

[Jill Schlesinger]

How much?

[Jason]

Tax deferred is 2.7. Roth is about 555.

[Jill Schlesinger]

Okay. Million or a thousand?

[Jason]

If it was a thousand. I'm sorry. If it was million, then you would.

[Jill Schlesinger]

Be like, not calling me. It's okay. Okay, so pre tech, 2.7, 550 Roth. Okay, that's great. Okay, what else?

[Jason]

And then there's a after tax ira and it's about 330.

[Jill Schlesinger]

Okay. After tax. Yep.

[Jason]

And all of that is in index funds at this point.

[Jill Schlesinger]

Beautiful. That's great. Are you managing this all yourself? Like the stocks and the brokerage accounts and everything?

[Jason]

Yes.

[Jill Schlesinger]

Okay. You happy doing that?

[Jason]

Overall, yes. Although I think I'm a little too heavy in stocks.

[Jill Schlesinger]

Can I just go to the corporate secretary a second? Karen, I know you're listening. How do you just feel about Jason managing it? And would you be comfortable managing it if something horrible happened to Jason? Or do we need to have somebody in the back pocket? If you were like, oh, if he passed away, I wouldn't do this myself. I think it would be challenging if I had to manage it all by myself because I have not been tracking this, to be honest. Okay. And I've been just in this autopilot mode. It has served you well so far. I got to be honest with you. So listen, Karen, at this point, I'm going to say that you are both the corporate secretary and also the chief financial officer is Jason. But as the CEO, you can also say to Jason, we need a plan B if something happens to you, which is. Okay. So let's just. Let's put that out there. So you got a chunk of moolah. Why are you hesitating about the house? I don't get this. Sell it and go cash out some stocks and move on. What's the big deal?

[Jason]

I think that that's the most reasonable. But we kind of get stuck between, should we try to keep this house and rent it?

[Jill Schlesinger]

No.

[Jason]

Potentially, there's the answer.

[Jill Schlesinger]

No. Why are you going to do that? You're going to make your life more difficult. Why? You want to be a landlord?

[Jason]

No.

[Jill Schlesinger]

No. Sell the house. You're going to pay capital gain on this house. What'd you buy it for?

[Jason]

930.

[Jill Schlesinger]

All right, you're going to pay capital gains on it. Okay, so what? And then you want to reduce some of your stock position anyway. So in the stock account, the $11 million account, I presume everything has a big gain. Is that correct?

[Jason]

Yeah, that'd be pretty accurate.

[Jill Schlesinger]

Okay. Are there certain stocks that you where you have a very outsized position? Like, oh, it just so happens that I bought Nvidia 12 years ago, or something like that, where you have a huge gain?

[Jason]

It just so happens I bought Nvidia about 12 years ago.

[Jill Schlesinger]

Stop it. Really?

[Jason]

Yeah.

[Jill Schlesinger]

I'm such a winner. Winner chicken dinner with that analysis. I'm so happy about myself right now. I would only be happier if I bought Nvidia 12 years ago. Could I convince you guys again, this is, you know, nothing bad. You're all. You're amazing, obviously, you make a half a million dollars. I'm sure you know, of course, you. You already coughed up the most important information, which is, you know, I'm a first generation, and therefore you probably do not spend a ton of money. You have a ton of money. I can't imagine what you spend on an annual basis, but, you know, if it's. You're putting away a lot of money. Do you think you spend 20 grand a month right now or less? Not yet.

[Mark Tularsio]

No.

[Jason]

We're probably 11 or 12.

[Jill Schlesinger]

All right. Even if I said 15 grand a month, you'll be fine. How much longer are you going to work?

[Jason]

Well, that's the other question, and I don't really know.

[Jill Schlesinger]

Okay, it doesn't matter.

[Jason]

In two years, it may not.

[Jill Schlesinger]

You could, like, retire tomorrow. I'm pretty sure about that. I feel confident that I could make a retirement plan work at 15 grand a month. Given the fact that you have all of this money. Mark, are you going to run a calculator for me or are you willing to just say that because Jason and Karen spend, like, $0? No, I shouldn't say zero, but that, you know, even if we had to spend 180 grand a year after tax, that the current 14, 16 million dollars could generate that. Do you feel comfortable with that, Mark? You can cut that in half and I would still be comfortable. Yeah. I mean, you really. It's shocking how great you are. Like, even if I said you're only going to pull 2% out of your invested assets, you know, over time, and that's going to. It's going to be fine.

[Mark Tularsio]

You're Great.

[Jill Schlesinger]

What is the Nvidia position worth right now? In total?

[Jason]

Close to a million. That's. That's part of it.

[Jill Schlesinger]

So why not? Okay, you want to have an Nvidia position? You did incredibly well. You know, you got 10% of your stock portfolio almost in Nvidia. Why don't we just cut this position down? Why don't we just say, you know, sell 800 grand, or you can sell a little bit, you can say 200 of Nvidia, but why not cut down the stock position, raise the cash that's necessary to pay the capital gains. So, big deal, you're going to pay 23.8%. So just think of a quarter of whatever you sell goes to capital gains taxes. Sell it and don't look back. Maybe, you know, listen, you've got a lot of money, so I don't want to say you can't have, like a fun money position in Nvidia, but it shouldn't be more than 5% of your invested assets, you know, so it would be fine if you said to me, I don't know, 500 grand, 600 grand, whatever, that, you know, you can reduce the position, and that would surely, surely make you, like, get down to, like, in the single digits of a position, raise the money you need to buy the house, sell the house, go do it. And with the other money. I guess what I'm wondering is, how do you feel about risk? I mean, you've taken on a lot of risk. You've been able to thrive. You took risk at the right time. Anyway, it's so interesting to me. I'm just trying to figure out where your head is around this.

[Jason]

I'm not entirely sure if I know myself. I had always kind of thought this money wasn't anything I would really need for a long period of time. And I was fine with being fairly risky. As I think about possibly either slowing down at work or not working at some time in the next few years, I'm a little more nervous.

[Jill Schlesinger]

Okay, well, I am very, very comfortable telling you that it is obviously a. A situation here where we can convince you easily that you can do whatever you want to do, but you have to give yourself permission to do it. You have been incredibly fortunate in that you invested, you stuck with it. You probably, you know, I. I imagine like in 2022, it must have been scarier. The end of 21, all the whole tech sector sells off. I'm sure that. Was there a fear that you felt.

[Jason]

In that I bought more.

[Jill Schlesinger]

Man's a beast. I Want to be Jason. What I think is going to happen for you guys is that you have to get on the same page. I hope you're both hearing this. Like, how's my corporate secretary doing? Karen, CEO, how are you feeling about this? Do you feel weird? Definitely. Really uncomfortable. Really? But it's good, right? It's kind of like. It's good. It's. But it's also. It's weird because I know you feel fortunate. I hear it in you. I want you guys to understand that there are a lot of things available to you. I mean, look, it could be. This could be a case where you don't really need me to tell you this, but you need to convince yourself. So maybe you want to hire a fee only financial planner to look at what you have and model it out for you and say if you stopped working next year, like if you just stopped and you just wanted to enjoy yourself or you wanted to cut back, here's what that looks like. If you bought not a $3 million house, but a three and a half million dollar house, here's what that would look like. And you know, if you spent five or ten grand today on that kind of a relationship, number one, I think it would be nice for Karen to have somebody that she feels like, okay, this is a human being. This is the kind of person I could talk to if, God forbid, something bad happened to Jason. But also to show you and prove to you that you can do whatever you want. I mean, it's an incredible situation to be in. I personally am the kind. I'm very wimpy. Mark knows this, that I wouldn't have all my money in stocks. I just wouldn't because like you already did the hard work. You've gotten where you've gotten. You already took the risk. It's amazing. We're good. Why are we going to do more? And I wouldn't be afraid of paying taxes, you know, so that's it. That's where I am. So I think it's time for you to make sure. And also, look, it's a ton of money at this point. Have you done estate planning?

[Jason]

Yes.

[Jill Schlesinger]

Great. Take your time. Buy the house you want to buy. Do what you want to do. But we need someone to prove that to you guys and, and Jason, have you. I know you know it on some level. Have you considered talking to somebody about helping you out with this? Just in terms of the planning part, not the management of the assets?

[Jason]

Yes. There's somebody available through work that we will talk to.

[Jill Schlesinger]

I would do that and I think that it is so important for you to do that. And I think that you guys are in incredible shape. I just want to see you take advantage of it and have fun as you get used to it. Then I think maybe you'll have other things to think about. Like, hey, you know what, we're never going to spend all this money. Let's try to give some money away. If you're charitable, should you have a donor advised fund? Would that be a place to put a low cost basis stock and pop it into a donor advise fund? Are you guys charitable at all?

[Jason]

We would like to be.

[Jill Schlesinger]

This is something that's a really wonderful thing if you think about like your Nvidia position and you can say, okay, well my cost basis, let's say I'm into it, that's a million dollars. Let's say you invested 100,000 into Nvidia and it's worth a million. If you were to just sell it. You know you get taxed on that capital gains. Right. If you were to put that Nvidia, let's just pretend it's the whole position. Doesn't have to be. But while you're still making a half a million dollars a year, let's say that you put everything into a donor advised fund. You would get a full $1 million write off of the money that you put into the donor advised fund and pay no taxes on it. The money goes in, it's now a million dollars in a donor advised fund. You can give it away over time. You don't have to do it all in one fell swoop and you don't have to do it with a whole million dollars. I'm just saying if you're going to work with a financial advisor, I think you should mention, hey, we're interested in talking about a donor advised fund and how much money we could put in there and what makes sense for us. And you know, you're still young and hopefully you're going to live for 40 years or 50 years. So we want to make sure that whatever we do, we want to be smart today. But we don't want to like make huge decisions today that are not going to allow us access to the money that we have accumulated. You're in amazing shape.

[Mark Tularsio]

Go buy a house.

[Jill Schlesinger]

What kind of house do you want to visit, Mark? We have a house now in Hawaii. I feel good about it. Something with the little guest cottage on the water. Yeah, exactly. Get that guest cottage going for us.

[Jason]

That's going to be a lot more than three to three and a half million.

[Jill Schlesinger]

All right, so spend four. Come on, now. I feel good about it. What else can we help you with? You guys are in great shape.

[Jason]

It's a position that we never really thought we would ever be in. It's very odd.

[Jill Schlesinger]

So I. I hear that. I totally hear that. And so if everyone listening, no judgment. There's like this weird situation when people just sort of are lucky about what has happened in their financial life. And we thank you for joining us. And we're not ex. I mean, listen, I feel so ecstatic for these kinds of things. I feel like, oh, my God, you hit it. Something great happened. Let's make sure that you enjoy it and you don't sit on it. And, you know, because it's there for you. It is one of those situations where I really just want you guys to be able to enjoy what you have done. Okay? Really? So hopefully you can do that. And thank you so much for listening to us and calling us. Being new listeners, we feel very honored that you have done so. Hey, maybe you don't have a million dollar Nvidia position. Maybe you don't even have a. I don't know, an account with $11 million in stocks and $3 million. Okay, I know all these numbers are, like, fantastical to you, but you've got something. And some of the things that you're considering would just be similar, which is like, hey, what do I have? What's my asset allocation? How can I use my money? How can I be smart? All of these things are really important, and we can help you with them. So go to jillonmoney.com, click the contact us button, write us a note, and if you'd like to join us on the air live, just check the box. Mark will do everything else. Hey, you can subscribe. Subscribe to us on the Odyssey app or wherever you find your favorite podcast. Please leave us a rating and review wherever you listen. And it is Friday, so let's do some business. Our music is composed by Joel Goodman. Mark Telercio is our executive producer and king of all things web. We are distributed by Odyssey. We ask you to do something nice for someone else today. It's going to make that person feel good, and it's going to make you feel good. Change your work, change your way, wealth, change your life. Thank you for listening. We'll talk to you next week.

[Mark Tularsio]

For decades, real estate has been a cornerstone of the world's largest portfolios. But it's also historically been complex, time consuming, and expensive. But Imagine if real estate investing was suddenly easy. All the benefits of owning real, tangible assets without all the complexity and expense. That's the power of the Fundrise Flagship Real Estate Fund. Now you can invest in a $1.1 billion portfolio of real estate, starting with as little as $10 4,700 single family rental homes spread across the booming Sun Belt 3.3 million square feet of highly sought after industrial facilities. Thanks to the e commerce wave, the Flagship Fund is one of the largest of its kind, well diversified and managed by a team of professionals. And now it's available to you. Visit fundrise.com jillonmoney to explore the fund's full portfolio. Check out historical returns and start investing in just minutes. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's [e-mail] Flagship this is a paid advertisement College holds a mythic.

[Karen]

Place in American culture. It's often considered the best four years of your life and hailed as a beacon of integrity and excellence. But beyond the polished campus tours, there are stories you won't find in the admissions pamphlets.

[Mark Tularsio]

The higher ups are concerned about one.

[Jill Schlesinger]

Thing, and that is avoiding scandal.

[Karen]

It's no wonder that college campuses capture the nation's attention, especially in moments of upheaval. I'm Margo Gray. Each week on the Campus Files podcast, we bring you a new story.

[Jason]

It was the biggest academic stand scandal in the history of college sports and probably in the history of academia.

[Karen]

On Campus Files we cover everything from rigged admissions to the drama of Greek life.

[Jill Schlesinger]

A chancellor having a pornographic double life is an extremely rare case.

[Karen]

Listen to and follow Campus Files, an Odyse Original podcast available now on the free Odyssey app and wherever you get your podcasts.