Jill on Money with Jill Schlesinger Is Retirement in Five Years Possible?
23 snips
Oct 9, 2025 Jim, a mid-50s registered nurse, seeks retirement advice as he and his wife plan to retire in five years. They discuss their $315k income, $1.9M retirement savings, and the debate between Roth vs. traditional accounts. Jill advises on rolling old IRAs into their 403(b), managing their $235k brokerage savings, and developing a strategy for Social Security to maximize benefits. They also explore pension payout options, potential housing changes to Texas, and healthcare costs leading up to Medicare. A comprehensive retirement roadmap unfolds!
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Keep Maxing Retirement Contributions
- Maximize retirement plan contributions now to accelerate savings growth.
- Continue catch-up contributions and verify plan types (Roth vs. traditional).
Nearly $2M Changes Retirement Options
- Their combined retirement savings of about $1.9M plus Roths and brokerage puts them in a strong position.
- That asset base supports early retirement plans with prudent withdrawal and tax planning.
Pause Backdoor Roths Until You Check IRAs
- Stop doing backdoor Roth conversions until you resolve old-IRA balances.
- Ask whether you can roll old traditional IRAs into your current 403(b) to avoid the pro rata rule.