Jill on Money with Jill Schlesinger Possible Early Retirement Readiness
13 snips
Jun 30, 2025 The podcast dives into the critical topic of early retirement, particularly for federal employees. Listeners hear valuable insights on financial planning, especially for someone at 54, and how personal circumstances impact retirement decisions. There’s an exploration of key assets like thrift savings plans and the advantages of inherited IRAs post-legislation changes. The conversation highlights pension benefits and the essential strategies for achieving desired income levels. Early financial planning and the value of consulting a fee-only advisor are also emphasized.
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Evaluate Early Retirement Offers Carefully
- Review your pension and retirement savings carefully before accepting early retirement offers.
- Ensure your income needs align with the pension and supplemental income available between retirement and Social Security start age.
Multiple Income Sources Stabilize Retirement
- Combining government pension, supplemental money, and Social Security can result in a stable income base.
- Supplemental income between early retirement and Social Security is key to maintaining desired spending level.
Use Inherited IRA Smartly and Get Planner
- Consider using your inherited IRA RMDs to fund a Roth IRA to maximize tax efficiency.
- Seek fee-only financial planners for tax planning and managing complex retirement assets.