When to Pivot: Closing a Business, Reinventing a Career, and Selling Real Estate

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 2 May 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this AMA Mailbag episode, Jean sits down with two thoughtful guests navigating major financial crossroads. First up is Dawn from Joshua Tree, who is in the process of closing her beloved but unprofitable gift shop. Then we hear from Karyn in Washington, who owns a rental home in Denver and is torn between keeping it as an investment or selling it while market conditions are strong. 💡 Topics Covered: Knowing when to shut down a business How to prioritize expenses during a life transition Rebuilding a career in your 60s Real estate decisions during uncertain markets Navigating capital gains tax rules Letting go of “forever home” fantasies to fund future goals … Does more financial confidence sounds good to you, then you might want to try: 🚀 FinanceFixx – HerMoney’s 4 or 8-week Money Makeover financial coaching program that will help you get your finances on track! 📈 InvestingFixx – HerMoney’s investing club for women who are ready to learn market lingo, and grow their wealth. Your first month with us is completely free! Have a question for us? Write to us (or send us a voice note!) 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! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey everyone, it's Gene Chatsky. We have had so many new listeners join us lately, and I just wanted to take a sec to say welcome.
0:07.3	Before we dive into today's episode, let me just take a moment to reintroduce myself. I am a long time personal finance journalist.
0:20.1	You might remember me for my 25 years on the Today Show.
0:24.2	And I started this podcast back in 2016 with one goal to help women take control of our money
0:32.3	and build the financial lives that we deserve. Whether you are budgeting, investing, negotiating, or
0:39.9	just looking to make some smarter financial choices, you're in the right place. And if you're
0:45.5	ready to go even deeper, I've got two fantastic programs. Finance Fix is my hands-on budgeting course,
1:02.6	and investing fix is the investing club I run with Karen Feinerman from CNBC that's designed just for women.
1:13.2	You can find out more about these programs at FinanceFix.com and InvestingFix.com, and by the way, we spell fix with two X's. We are so glad you're here.
1:14.8	Now let's get into the show.
1:25.2	I think that you are just too young to pull the money out of your 401k, to pull the money out of your annuity. We've got to give those sources of real retirement income time to grow.
1:32.2	And the same is true of Social Security, as you've heard me say many times.
1:36.0	For every year that you wait to take Social Security, you get an 8% bump in your benefits.
1:41.5	I mean, that is just an incredible return.
1:46.1	Hey, everyone, I'm Gene Chatsky. Thanks so much for joining me today on her money. I am so
1:51.0	excited to bring you another one of our live mailbags today where you jump on the phone with
1:57.2	me and I get to answer all your questions and your follow-up questions.
2:02.4	And I am especially excited for today's mailbags because they are two really specific
2:09.7	questions about selling assets. First, I'm talking to Dawn about selling her gift shop,
2:15.8	her business and the exciting pivot that that brings to her
2:19.8	career. And then Karen's going to call in and we're going to talk about whether she should
2:24.3	sell her second home in Denver or continuing to rent it out to long-term tenants. Before we get
	...

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