Jill on Money with Jill Schlesinger Retired With Various Streams of Income
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Jun 10, 2025 Marie, a retired small business owner from Connecticut, dives into her journey of managing retirement income and assets. She shares how her rental properties sustain her lifestyle and discusses the potential tax implications of converting her IRAs. The conversation explores the intricacies of real estate investments, including a commercial property and a vacation rental. Marie emphasizes the importance of careful budgeting, emergency funds, and estate planning as she navigates her new financial landscape while adapting to retirement.
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Retired Couple's Income Setup
- Marie and her husband retired recently and sold their business to key employees, holding a note for income.
- They live off rental properties' income and note payments, enjoying retirement and travel.
Diversified Rental Income
- Rental properties include a commercial building, a vacation home, and a primary residence with an accessory dwelling unit.
- Together, these assets provide diversified income that significantly supports their financial needs.
Annual Income Needs Estimate
- Marie estimates they need about $150,000 to $200,000 annually to maintain their lifestyle, including travel.
- This range guides their financial planning decisions during retirement.