Jill on Money with Jill Schlesinger Is Retirement in 2027 a Possibility?
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Dec 17, 2025 In this discussion, guest Bradley, a 60-year-old New Yorker with plans to retire in 2027, seeks crucial retirement advice. He details his financial landscape, including a significant TIAA balance and various debts. Jill emphasizes the importance of paying off high-interest loans and managing his duplex renovation for potential rental income. They also explore the roadmap Bradley needs to follow before taking the retirement plunge, ensuring he’s well-prepared for the transition ahead.
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Eliminate High-Interest Debt First
- Pay off high-interest consumer debt immediately using available cash to stop destructive interest costs.
- Bradley should prioritize eliminating credit card and 20% personal loan debt before spending on renovations.
Bradley's Current Balance Sheet
- Bradley has about $730,000 in his TIAA retirement account but withdrew $100,000 earlier and now has $80,000 in checking.
- He also has a $370,000 mortgage and a $130,000 HELOC at variable ~6% interest.
Use Home Equity For Renovations
- Use the HELOC to fund house repairs and rental-ready renovations instead of depleting cash savings.
- Preserve the $30,000 cash cushion after paying debts to maintain liquidity and reduce pressure.