Is Our Retirement Strategy Okay?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 4 August 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
When it comes to your retirement plan, it's only natural to be worried and full of anxiety. But that's why we're here, to help you take that deep, calming breath.
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
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| 0:00.0 | Welcome to the Jill on Money Podcast. It is Wednesday, August 4th. And I want to thank |
| 0:09.1 | everybody for always listening and putting up with my bad mood days. Do you notice the |
| 0:13.7 | difference? I bet you do. My sister sometimes says to me, like, oh, you see Mike, you're |
| 0:18.8 | in the best mood that day. Oh gosh. All right. Well, this is a program that takes the mystery |
| 0:27.3 | out of your financial life. We do that by answering your questions. So send us your financial |
| 0:33.8 | concerns or queries to ask Jill at Jill on Money.com. Don't forget to tell us if you'd like |
| 0:39.8 | to come on the air live because it's better when we talk to you and it's more interesting |
| 0:44.8 | to listen to and it's more fun for me to hear how you describe your situation. But I'm |
| 0:49.0 | happy to answer your email questions, of course. But if you want to come on live, just let |
| 0:53.6 | us know that. Lori writes, you ready for the subject? I'm worried. Hi, Jill in Mark. I love |
| 1:01.6 | your podcast, but it's causing me some anxiety. I just started listening. I thought would be |
| 1:06.6 | okay. But now I'm worried. Don't be worried. Let's, let's see. Let's see. Come on. Lori says, |
| 1:12.5 | she's 66. Husband 68. I am a retired RN and Lori says I currently manage our rentals. Hmm. Okay. |
| 1:22.6 | My husband plans. I'm retiring in about a year. His income is $155,000. We've got four grown |
| 1:29.8 | independent children. Thank God. Okay. She says we only have $500,000 in our IRA and unfortunately |
| 1:37.4 | no Ross. We didn't start saving aggressively until our mid 40s. Okay. They get 10 grand a month |
| 1:45.4 | of rental income and social security. That's good. My husband won't take his until he's 70. |
| 1:52.1 | They've got a $40,000 emergency fund, a high estimate of our monthly spending is $10,000, |
| 1:58.0 | lower estimate, $8,700. They've got a mortgage. It is about $400,000, $2.8%. Oh my God. It was |
| 2:08.5 | recently appraised for 1.7 million. So massive amount of equity. I'm pretty sure we're going to |
| 2:14.2 | advise us to sell it. It has two rentals on the on the parcel and they earn three grand a month |
| 2:20.0 | on it and assume to come ADU that would bring in about $2,000 a month. Wait a minute. Why are you |
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