Welcome to the Jill on Money Show. It is Wednesday, April 15th. Happy Tax Day. If you are one of those folks who waits to the bitter end, I don't know how you do it. I usually do it. Even if I owe money, I do it a little bit in advance of that. I can't wait to the last day. I don't know why. It's just like something

in my DNA. You know, if you need some extra time, you'll have to file an extension, but of course that extension means that you've got an extra six months to prepare your returns, but you have to pay what you think you owe. So just bear that in mind as you go through the process. And if going through the tax process has raised some issues for you,

get in touch with us. Go to jillonmoney.com. Click the contact us button, write us a note,

and let us know if you'd like to join us live by checking that box. Right now, let's talk to

Todd from California. What's going on? Well, I'm, I'm just looking at making a transition professionally

that's going to come with a pension, which I'm pretty happy with. But I want to know how to manage

emergency funds savings in that process. I don't want to be, I have too much in savings so that I

can't enjoy my life with my kids and family moving forward.

Tell us about what's going on. What is the transition? How old are you? Who else is involved? So I'm currently 48. I'll be 49 next year. I'm going to transition out of the military. And I have a wife, three kids and a pup. We don't know where we're going to land. But I do know that when I transition

in about a year and a half, I'll have about $6,500 pension income before whatever job I

hopefully find in the meantime. That's a lot, $6,500. So when you're thinking about this transition, you're not saying I don't want to work anymore.

You're really young.

What is it that you think you need to add to the $6,500 a month to help you live the way you want to live?

Or will $6,500 a month do it?

I don't think that we'll do it.

I have three kids in school and we're pretty active.

So, you know, I think to live, you know, location dependent, probably $10,000 a month is probably

the minimum that I would need to kind of live the way we want, keep my kids active doing the things they like to do.

How old are the kids?

Currently 13, 9, and 7.

And Todd, I know that I've spoken to other folks in the military

who have these amazing GI Bill ability to put their kids through school.

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