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Jill on Money with Jill Schlesinger

Can I Start a New Endeavor at 57?

Jill on Money with Jill Schlesinger

Audacy

Investing, Education, Business, Self-improvement

4.61.9K Ratings

🗓️ 27 September 2021

⏱️ 19 minutes

🧾️ Download transcript

Summary

Here we go, yet another career change related question. Pre-COVID, we got maybe five of these all year, now it seems like we're getting five a week.

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 Podcast. It is Monday, September 27th. It is the last week

0:10.8

of September. Mark, how are you feeling about that? He wants cooler temperatures. He was

0:15.2

complaining to me last week that it was hot and sticky. I said, not in my air condition

0:19.4

department, it isn't. You know, you guys don't keep your air on in September. Is that some

0:23.3

sort of philosophical thing?

0:25.9

Okay. So Mark basically says that June is really still the spring and September is still the

0:31.6

summer. September is my favorite month to go swimming in the ocean because it's still warm

0:35.8

and nobody's around. But I have to say in the Northeast, pretty intense currents, riptides,

0:42.0

and it's been a little dangerous. So I have to I've altered some of my behaviors, Mark,

0:48.0

because I'm a mature adult. Oh, you know what I was thinking? Mark thinks it's I have to be

0:53.1

careful because if I disappear, he's screwed. Maybe you should buy key person life insurance on me.

0:59.7

Maybe you should buy a policy and you would be the beneficiary of that. If you guys don't know

1:04.8

this concept, there is actually an insurance product called key used to be called key man. Now,

1:09.8

we call key person insurance. And the way it works is that, for example, when when I owned a

1:15.0

company, there would be insurance on my life that would flow to the company upon my death to

1:22.2

go out and replace me and maybe find the the right person to come in and fill the void or maybe

1:29.9

to help buy out. There's sometimes there's insurance that is used to buy out partnership agreements.

1:36.2

So Mark, I think you ought to look into that. Go see how much it costs to get 15 year term life

1:42.5

on a healthy 55 year old non-smoking woman. Check it out. Let me know. Okay. Now that is all you

1:49.5

need to know about that. This is the program that takes the mystery out of your financial life.

1:54.9

We are trying to help you make the next best decision in anything financial. Okay. So it doesn't

2:01.5

really matter to us what your issue is. We just would love to hear from you. You can get in touch

...

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