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Jill on Money with Jill Schlesinger

Can I Retire?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Education, Business, Investing

4.61.9K Ratings

🗓️ 18 February 2022

⏱️ 16 minutes

🧾️ Download transcript

Summary

After 20 years on the job, I've had enough. Can I call it quits and retire later this year?

Have a money question? Email us, ask jill [at] jill on money dot com.

Please leave us a rating or review in Apple Podcasts.

"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 Friday, February 18th. And I hope for all of your

0:09.4

sake, you're taking a nice long weekend. Monday, President's Day, I'm going to be trying

0:14.8

to take a few days off myself because it's good to take a break. That's why you are better.

0:21.4

If you've got a financial question, if you've got a tax question, a retirement question,

0:26.1

a housing question, a career question, then why don't you go to the website JillOnMoney.com,

0:32.2

click the contact us button. And we would be delighted to bring you on the air with us. If not,

0:38.8

you know, I try to read emails every week or so. And so we did some yesterday. We're trying to

0:44.8

dig out of our mountainous inbox, which Mark is perfectly at peace with now after having

0:52.2

Cal Newport walk him through why he has to not freak out about having a full inbox. And you are

0:57.3

doing a wonderful job with that, Mark. There's only so much we can do. That's true. It is, you know,

1:03.3

it's sort of like that major moment in your life where you say, actually, I have no control over

1:07.9

this thing, whatever this thing is. And I'm going to let go. And that'll be a good place to be.

1:14.3

You know, like I do, Mark, so often with all the things that go on and how I let go so easily,

1:19.9

I'm joking. I don't do that at all. I'm a complete maniac. And I don't let go of much. So I'm trying,

1:26.6

let's get to some of your questions. Kenan says, I'm 65 and retired at age 60. Oh my god,

1:33.2

I got a pension of 80 grand, no cost of living adjustment. My wife is 63, plans to retire at age 65.

1:40.2

Annual salary $108,000. She's maxing out her Roth 401k. We have three adult kids,

1:46.3

they're self-sufficient. We have a portfolio of, oh, cue the hate mail, $5.3 million. Oh,

1:54.2

the breakdown is he has company stock of $1.9 million, which is about a third of the portfolio.

2:01.4

It happens to be a company we've had a question about on this program. It's very funny.

2:05.8

He also has an IRA, traditional IRA, $1.7 million. She has a traditional IRA, about 700,000.

2:12.6

brokerage accounts, a million, Roth accounts, 90. All the retirement accounts are with Vanguard.

...

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