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Jill on Money with Jill Schlesinger

Saving for Financial Independence

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.61.9K Ratings

🗓️ 9 March 2021

⏱️ 13 minutes

🧾️ Download transcript

Summary

Saving 50 percent of your salary (while you can) in hopes of buying yourself some flexibility as you approach retirement sounds like my kind of plan.

Have a money question? Email me here.

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 Tuesday, March 9th. Now, yesterday was International

0:10.3

Women's Day. I don't want this celebration to stop. So we're going to keep putting the

0:15.6

women first this week. In fact, today, we're going to have another woman who will be joining

0:21.6

us as a potential happy consumer of Jill's live advice. We're going to say potential, I haven't

0:30.4

done it yet. As you know, this is the program that attempts to take the mystery out of your

0:35.2

financial life. And I do that with my partner, Mark, who runs the program. We're both certified

0:41.5

financial planners. If you guys have financial questions, we want to hear from you. Send us an

0:47.2

email, ask Jill at Jillonmoney.com. And if you happen to be on our website, because you're

0:52.8

poking around and looking at different stuff that's there, and you have a question, there's a contact

0:57.9

button. It's very easy. So today, without further ado, we have Anu, who's on the line from Atlanta,

1:06.0

welcome to Jill on Money Anu. What can we do for you? Hi, Jill, I just want to say thank you so

1:12.1

much. I'm super excited to be on your call. So thank you. I had some questions for you about

1:17.2

some future planning. Okay, tell me, tell me a little bit about yourself. How old are you?

1:21.7

Okay, so I'm 43 and I'm single and I own a condo. Basically, I own my home, but I also own a

1:27.9

rental condo. It's a place that I used to live and I decided to rent it out a couple of years ago,

1:32.9

but I'm hoping to sell it this year. And if I sell it, I probably will get about 100k, that is like

1:39.5

100k, and I'm trying to figure out what to do with that money. Okay, one question for you.

1:44.8

When you say $100k after selling the rental, is that after you've paid the tax that's due,

1:49.9

because I imagine you've made money on this, right? To be honest, I haven't made a ton of money,

1:54.2

but I've basically broken even, which is okay with me. And that's quite new. I want to sell it.

1:58.4

Okay, got it. How much is your current condo worth? I bought it for 270. Okay, is there a mortgage

2:05.4

outstanding on that? Yeah, I put down 20%. Okay, 43. How much money do you make a year?

...

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