Welcome to the Jill on Money podcast. It is Tuesday, August 10th. Mark, thank goodness you

have an editing ability because I just seem to be tripping over my words today. Yet Mark

says as an Emmy winner, I shouldn't be tripping up. The guy who is the executive producer

of Sunday Morning is well known at CBS. His name is Rand Morrison to be the guy who makes

you retract to the voiceover stuff about a thousand times. So the fact that I actually

survived eight different pieces with him is truly remarkable. Love you, Rand. Okay, if

you've got a financial question, give us a shout. Our email address is ask Jill at JillOnMoney.com

and our website is JillOnMoney.com. We've got a beautiful contact button. Let's get through

some emails because as Mark likes to say, they are piling up. This is an email from Tony

wants to know whether he can retire early. He says, according to the fidelity retirement

calculator, I can't. I just want a second and third opinion. If I leave the workplace,

I don't think I can come back. I will be too old. After all, who would hire me? He never

know. He's 58. Okay. So here's the data. He's got 750 grand in 401k IRA. He's got 30 grand

cash on hand. He's got a personal portfolio of $70,000. He makes about 130 grand annually

and he lives in the Bay Area. He wants to retire this year when he turns 58. He says,

I'm planning to live until I'm 90. I'm single. No kids. I would like to leave my nephew

and nieces all my real estate, but I don't have to. Since I'll be leaving my workplace,

I can use the 50 rule. So the 55 rule is a way to get money out of your 401k out of your

pre-tax money. You have to take basically a distribution. You have to almost treat it

like an annuity. You have to take the same amount out every year based on your life expectancy.

Okay. So then he says he needs four grand a month to live his current lifestyle. He's got

three houses, two rentals and one, his personal residence. The three homes worth around $3 million.

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