Can I Retire Next Year at 56?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 12 April 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
Can I retire next year at 56 or should I keep working and let my pension grow even bigger?
Have a money question? Email us, ask jill [at] jill on money dot com.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. It is Tuesday, April 12. A big day today, Mark, because |
| 0:10.6 | today we're going to get another reading on inflation, a consumer price index report, |
| 0:15.8 | and it's going to stink. We are going to probably see another new high. It'll probably |
| 0:21.4 | be, I don't know, eight, maybe a little bit more. Maybe it'll be 8.2% year over year, |
| 0:26.9 | and it's going to make everyone insane, and it's just going to tell you what you know, |
| 0:30.7 | which is everything costs more. That's kind of where we are right now. Partially because |
| 0:35.7 | of the pandemic and supply chain, partially because the surging demand, partially because |
| 0:42.4 | all the money that two administrations pushed out to help us during the pandemic, used |
| 0:48.1 | to actually chase too few goods and services. All these things together really do spell, |
| 0:54.9 | I think higher inflation rate than many people expected, and also that it's going to last |
| 1:00.7 | longer. The Federal Reserve officials are out there saying, don't worry, we're going |
| 1:05.2 | to take care of it. I sure do hope. Mark, do you have confidence in the Federal Reserve? |
| 1:12.1 | Maybe I'm being naive, but I actually kind of do. You believe it. You believe it. Last |
| 1:17.2 | week, a lot of Fed officials were yammering and saying like, we are going to get busy. Meanwhile, |
| 1:25.3 | meanwhile, as you start contending with higher prices and you are thinking about your own portfolio, |
| 1:32.6 | your own financial life, questions may arise. The good news for you is we may be able to help you |
| 1:39.5 | out. The way that we can help you is if you go to our website, JillOnMoney.com, and you click |
| 1:45.5 | the contact us button, you say, here's my question, here's what's on my mind. If you are willing |
| 1:51.5 | to come on the air with us, we can talk it through with you. Otherwise, I'll certainly read the |
| 1:55.3 | email on the air. We do that from time to time, and it's a good way to kind of clean out our inbox, |
| 2:00.5 | but we love having you join us. Today, we are joined by listener Renee, who's on the line from |
| 2:07.8 | Virginia. Hello, Renee, what can we do for you? Hi, Jill. Hi, Mark. Well, I'm in a pit of |
... |
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