Jill on Money with Jill Schlesinger I Don’t Want to Work Until I’m 70!
4 snips
Jul 3, 2025 As retirement approaches, listeners ponder the feasibility of leaving work at 65. The discussion dives into the impact of social media on financial independence and exploring inclusive financial conversations. A listener shares plans to relocate to California, prompting a look at housing costs and health considerations in retirement. Strategies for balancing health and finances are shared, emphasizing the importance of assessing financial stability and planning for future expenses. The hosts encourage proactive financial mapping and seeking assistance.
AI Snips
Chapters
Transcript
Episode notes
Lisa's Retirement Plans
- Lisa, aged 63, wants to retire at 65 to move closer to her grandchildren in Southern California.
- She currently rents very cheaply in New Jersey but anticipates much higher rent in California.
Retire at 67, Claim Social Security at 70
- Working until age 67 is advisable to build finances before moving to expensive California.
- Delay Social Security benefits until 70 to maximize income, using 403B funds to bridge the gap.
Maximize Employer 403B Match
- Continue contributing to the 403B plan to take advantage of the generous 30% employer match.
- Supplement savings in a high-yield savings account with any extra money beyond retirement contributions.