BONUS call: Saving for Retirement

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 30 May 2017

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on the BONUS call we're going to the Pacific Northwest where we found Chris from Spokane, Washington. Chris, who is only 40 years old, is maxing out his 401(k) and his Roth IRA and also has an emergency reserve. On top of all that, he has an extra 2k each month and isn't sure what to do with it. Should he keep saving for retirement or can he ease up a bit and do something else with the extra cash? Nice problem to have, huh? Have a finance question? We want to hear from you! Email us at askjill@betteroffpodcast.com and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in iTunes. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://soundcloud.com/jill-schlesinger http://www.stitcher.com/podcast/jill-on-money http://betteroffpodcast.com/ https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2

Transcript

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0:00.0	Welcome to the Better Off Bonus Call of the Week and this is so much fun because this is the
0:09.6	chance that we get to talk to you live on the air and you know I think it's better than an
0:16.8	email because we get into more nuanced situations and I can ask follow-up
0:21.2	questions it's very efficient.
0:23.4	So if you have a financial question,
0:25.4	just send us an email.
0:26.4	Ask Jill at betteroff Podcast.com.
0:29.0	And of course you've got two chances to get on the air.
0:31.8	We have today's show every Tuesday, the bonus call of the
0:34.7	week, and of course we also have the longer show on Thursdays. So please email Ask Jill
0:40.9	at better off Podcast.com.
0:43.0	Right now we've got Chris from Spokane, Washington on the line.
0:47.0	Hey Chris, welcome to Better Off.
0:49.0	What can I help you out with today?
0:50.0	Hi Jill, thanks for taking my question.
0:52.8	Sure.
0:53.8	Something I ask myself is, when am I doing enough for retirement?
0:59.2	I have a little bit of extra income and right now I'm maxing out my 401k and my IRA but I'm
1:06.9	wondering now with this extra income should I focus it toward further retirement
1:11.7	goals or is it okay to back off and use it for other purposes?
1:15.8	You mean like just have fun? Like spend like crazy? Like a wild man? Okay.
1:21.1	Tell me a little bit about yourself, Chris. How old are you? I'm 40 years old. Okay, are you single, married, partnered? I am single and I don't have any children. Okay. And you said you're maxing out your retirement plan so you're putting
	...

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