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Jill on Money with Jill Schlesinger
Do I Need to Go Back to Work?
Jul 8, 2024
The podcast discusses the dilemma of a 55-year-old considering going back to work for financial stability after retiring. It explores retirement accounts, financial planning, side gigs for income, and personal perspectives on wealth, charity, and inheritance decisions.
18:41
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Quick takeaways
- Consider utilizing side gig income and strategic financial decisions for long-term stability.
- Document end-of-life healthcare decisions and designate beneficiaries for accounts to ensure financial security.
Deep dives
Penny's Retirement Concerns and Financial Situation
Penny, a retired individual contemplating returning to work, is concerned about her financial stability. She retired at 59 and currently relies on a 72T distribution of $24,000 annually. Penny has $520,000 in a 401k, $455,000 in a traditional IRA, and a $148,000 account. She also generates variable income from a side gig. Penny seeks advice on managing her funds and considering future financial scenarios.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode