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Jill on Money with Jill Schlesinger

Am I Saving Too Much?

Jill on Money with Jill Schlesinger

Audacy

Investing, Self-improvement, Education, Business

4.61.9K Ratings

🗓️ 2 January 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

With a big military pension on the horizon, am I saving too much in my retirement plan?

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Jill on Money Show. It's Thursday, January 2nd. I don't know if a lot of people are working today. I am. We are. And I know that's kind of a drag to come back after a nice break. I took, you know, almost a week and a half off. God, it was amazing. And we're here still answering financial questions, whether

0:21.8

it's 2024 or 2025. We're here for you. So if you've got something going on, if you are really

0:27.5

wondering how to start the year off on a positive note, go to our website, jillonmoney.com,

0:33.5

click that contact us button and complete the form. If you want to come on the air live with us, check the box.

0:39.7

Mark will do everything else.

0:42.1

All right, let's get this show started.

0:44.1

We're starting with a bang, I'll tell you.

0:46.7

We are going to talk to Will, who is speaking to us from South Korea.

0:51.8

I've been in the military for 31 years now, really got a late start in

0:57.5

investing as far as like the Thrift Savings Program that the military offers, really just

1:03.9

in the last few years that I've gotten into that. So I'm kind of maxing it out because I can

1:09.6

and it's available to me.

1:17.3

But with 31 years in and looking to retire at around the 34 or 36 year mark, my pension's going to be relatively high, 115 to 130,000 a year.

1:23.9

And I'm just wondering how much is too much.

1:31.0

Could I back off the TSP contribution a little bit?

1:38.3

Interesting. This is interesting. So a couple of questions, Will. Number one, are you single, partnered, married?

1:45.2

I'm married, just remarried about four years ago. And how old is your spouse? She is 30.

1:46.8

She's 39.

1:48.8

You see that, Mark?

1:54.6

This is why my friends who are 50 can't find guys, you know, because he's marrying a 39-year-old.

1:56.0

Okay.

1:58.1

That's a different program.

...

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