Jill on Money with Jill Schlesinger Can We Cut Back on Work?
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Dec 2, 2025 Caller James from North Carolina, a dedicated father in his early 50s, seeks financial guidance on cutting back work to spend more time with his young son. He shares details about his $2M retirement investments and minimal cash reserves, sparking a discussion on maintaining liquidity. Jill advises reducing retirement contributions for a cash cushion while balancing current income and future plans. They explore self-employment options and essential insurance coverage, ensuring James is prepared for his family’s financial future.
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Family Wants To Downshift Work
- James and his wife want to cut back work to spend time with their four-year-old child.
- They have about $2 million in retirement investments and only $30,000 in cash, which complicates the shift.
Low Mortgage And Income Give Flexibility
- With reduced hours the couple estimates combined pay around $300k, which still covers bills in their view.
- Home equity and low mortgage rate materially strengthen their ability to downshift work.
Phase The Downshift Over Time
- The couple can phase the downshift gradually, reducing days now and potentially more later as comfortable.
- Keeping some work flexibility allows them to test the plan and restore hours if needed.