Can We Take the Plunge Into Retirement?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 26 November 2023
⏱️ 11 minutes
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Summary
Based on the assets we have accumulated, can I retire at the end of this year?
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Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. It's Sunday, November 26th. Back to work tomorrow for all of you who had a long weekend. Sorry about that. but today don't worry, we've still got a show, |
| 0:15.6 | we're still here for you, we're still talking and taking your financial questions, trying to help |
| 0:20.4 | you make better choices as you look at everything that is in front of you. |
| 0:25.5 | It can be retirement, it can be education, it could be buying a home, it could be selling a home. |
| 0:29.8 | We kind of don't care. |
| 0:31.2 | But when you have some sort of financial issue that crops up, we encourage |
| 0:34.9 | you to go to our website Jill on money.com, click the contact us button, and of course let us know |
| 0:40.4 | if you would be willing to come on the air with us. Today we are going to talk to |
| 0:44.7 | Tom who's on the line from South Carolina. |
| 0:47.5 | I'm 63 this month actually and I'm planning on retiring at the end of this year and I'll have about a year and a half before moving on to to Medicare and I just wanted to kind of go over the high-level numbers with you and see if you felt like we were in good enough shape to kind of take that plunge. |
| 1:07.6 | Okay, sure. So give us the breakdown of what's going on. So you're still working right now and how much do you earn |
| 1:14.8 | Tom? |
| 1:15.8 | 170. And are you using a retirement account? |
| 1:19.8 | Yep, we are fully loading up our 401k this year. |
| 1:24.1 | Great. |
| 1:25.3 | We indicates a partner. |
| 1:27.1 | Tell me about partner. |
| 1:28.4 | My wife of 42 years, so she is not working any longer she is a registered nurse but she retired a few years |
| 1:37.6 | ago. Is she entitled to any pension? No she doesn't have a pension. |
| 1:43.0 | Most of the retirement funds are actually in with me. |
| 1:48.0 | She has Roth dollars and an inherent IRA. |
| 1:52.0 | Okay. What do you think you really need to live on when it comes to your retirement? |
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