Ask HTM: Savings Interest Rates are Dropping, What to do if You’re Overpaid, and Investing in an ESPP – Episode 156

January 13, 2020

This week on the podcast we’re answering your questions! 1 – I was overpaid by my employer, what should I do now? 2 – Should I convert my 401k into an IRA? What considerations should I keep in mind? 3 – I have some IRS debt. Should I prioritize my debt snowball or get after that tax debt owed to the IRS? 4 – What’s the deal with my savings account interest rate dropping? 5 – I have an ESPP that is offered at work. Should I participate, and if so, how should I go about taking advantage of my employee stock purchase plan?

With savings interest rates dropping, there’s not much we can do to find better rates than what companies like CIT, Ally, and Discover are offering. However, keep an eye out for sign-up bonuses like the $200 offer that CIT currently has.

And if you have a question for us, we’d love for you to submit your own via

During this episode we enjoyed a Mexican Chocolate Yeti by Great Divide – a big thanks to our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!

Best friends out!

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One comment on “Ask HTM: Savings Interest Rates are Dropping, What to do if You’re Overpaid, and Investing in an ESPP – Episode 156

  1. Jason Zimpfer Feb 5, 2020

    Hey guys, love the podcast, and I just wanted to comment on the ESPP segment from Episode 156. It’s worth noting that most ESPP’s have a minimum holding period before which a sale of stock can be considered a qualified distribution. Additionally, sales of shares will be subject to capital gains tax, and the timing of the sale of shares is an important factor in determining whether an ESPP is a worthwhile option when considering tax implications. Depending on the volatility of the company stock and the required holding period, as well as the lack of control over when shares are purchased (such as at my place of employment), there are a lot of factors outside of an employee’s control which dilute the benefit of the ESPP or render it too “risky” to participate in. It can definitely be a useful tool, but there are some hidden limitations.