Jill on Money with Jill Schlesinger Should I Tap a CD or My Roth?
7 snips
Apr 7, 2026 They debate whether to break a CD or tap a Roth IRA to buy a car. They cover pros and cons of selling or holding a fully depreciated rental property. They weigh pension lump sum versus rolling it over to avoid big tax hits. They question early Social Security claiming and urge a retirement spending plan first.
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Grandparent Owned 529 Avoids FAFSA Impact
- Use a grandparent-owned 529 to avoid counting assets on the FAFSA.
- Jill explains that if the grandparent is the account owner and the child is only the beneficiary, the funds won't be reported on the FAFSA under recent rules.
Use Retirement Accounts To Manage Future RMD Impact
- Consider using retirement accounts strategically to gift money without raising future RMD burdens.
- Jill notes pulling money from traditional accounts now (paying tax) or using Roth funds can be practical ways to gift to family while managing future required minimum distributions.
Sell Or Exchange A Nonperforming Rental
- If a rental property is breaking even and fully depreciated, consider selling or exchanging it rather than simply paying off the mortgage.
- Jill suggests a 1031 like-kind exchange or selling to free capital, since a nonperforming rental may be better redeployed.