Jill on Money with Jill Schlesinger Next Financial Steps After Divorce
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Nov 5, 2025 In this engaging discussion, recent divorcee Kate seeks financial guidance, focusing on rebuilding her finances at 50. She dives into her income situation, including bonuses and RSU vesting. The conversation covers the complexities of home buyouts, mortgage details, and managing college savings while addressing retirement shortfalls. Jill emphasizes the importance of liquidity over aggressive mortgage payments and suggests strategic allocation of upcoming windfall funds. They wrap up with practical steps for improving budgeting and boosting retirement contributions.
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Post-Divorce Financial Reset
- Kate is rebuilding financially after a divorce at age 50 while raising a 13-year-old daughter.
- She earned about $400K expected this year and had RSU vesting and recent retirement withdrawals tied to the split.
Home Equity Versus Retirement Shortfall
- Kate bought out her ex and now carries the mortgage alone with a $1.89M house and $800K remaining at 6.75% interest.
- Her IRA is $306K after giving $25K in the divorce and her current 401(k) balance is small after pausing contributions.
Prioritize Liquidity Over Mortgage Paydown
- Jill recommends keeping liquidity first and not rushing to pay down the mortgage after divorce.
- She suggests saving a large portion of upcoming RSU and bonus proceeds into high-yield savings and raising 401(k) contributions gradually.