Jill on Money with Jill Schlesinger Can We Splurge a Little Bit?
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Aug 27, 2025 How can we balance fun spending with financial goals? The discussion dives into managing leisure spending as retirement approaches, examining savings and income sources. Complex topics like irrevocable trusts and inherited wealth shed light on their tax implications and family dynamics. Real estate investment in a volatile market is covered, highlighting strategic decision-making and diversification. Finally, the importance of selecting the right financial advisor is explored, blending financial insights with a focus on enjoying life.
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Huge Savings Make Big Spending Sustainable
- Large nest eggs make generous discretionary spending feasible without risking financial ruin.
- With multi-million-dollar assets you can sustainably fund elevated travel and hobbies for years.
Plan Around After-Tax Income
- Budget conservatively: count projected pension and consulting as taxable income and plan on net (after-tax) cashflow.
- Cover remaining discretionary needs from investments to hit the extra $150k per year target.
Convert Low-Return Real Estate To Liquid Investments
- Sell illiquid, low-yield real estate and reinvest proceeds into a balanced portfolio for liquidity and better returns.
- Tell your financial advisor you'll move the cash and negotiate a lower fee once you hand over the extra funds.