Mailbag: I’m on sabbatical and want to retire early, do I have enough money?

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 29 November 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we are bringing you a mailbag question about retirement benchmarks, you know the ones: You want to aim to have one times your salary by age 30, three times by age 40, six times by age 50, eight times by age 60, and 10 times by the time you retire. These benchmarks are fabulous, but they're also not personal. Listener Tiffany joins us to ask how pensions, retiring early, and Social Security factor into these benchmarks. Learn more about our Finance Fixx program here. Use code PODCAST for a $100 discount. Interested in learning more about investing alongside hundreds of other women? Join us every other Monday night on Zoom at investingfixx.com. Have a question for us? Write to us at [email protected]. While you’re at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Use promo code HERMONEY at the link below to get an exclusive 60% off an annual plan at https://incogni.com/hermoney. The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact [email protected] if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an Airwave Media podcast.
0:05.5	Her money is proudly sponsored by Edelman Financial Engines.
0:09.7	Healthcare costs are on the rise, and taking care of our health is one of the most important moves we can make for our lives and for our finances.
0:18.8	Make a plan for managing your health care costs with the help of a complementary wealth checkup
0:23.7	at plan eFE.com slash her money.
0:28.6	Turning an idea into a small business doesn't happen by accident.
0:32.4	You need to be all in.
0:34.1	At constant contact, we have the digital marketing tools you need to get the word out,
0:38.0	close the sale, raise the funds and gather a community around this thing you've built. So let's do
0:42.9	this together. Let's send this, share this and shout this from the rooftops. Let's segment this,
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1:00.2	Hey everyone, I'm Gene Chatsky. Thanks so much for joining me today on Her Money. I'm so excited
1:05.5	to bring you another one of our live mailbags today where you jump on the phone with me and I get
1:10.4	to answer all your
1:12.0	questions. It doesn't happen as often as I would like it to, which is just a call out that if
1:18.3	you've got a question and you want to spend a little time chit chatting with me one on one,
1:23.9	please send us a note when you send your question into mailbag. We will follow up and we'll try
1:30.2	our very best to make it happen in short order. And I'm especially excited for today's mailbag
1:36.8	because we get into what I really mean by the retirement benchmarks. I think many of you have
1:42.6	heard me talk about the importance of trying
	...

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