Jill on Money with Jill Schlesinger Need a Better Plan to Retire in Three Years
7 snips
Jul 18, 2025 Listeners dive into the world of retirement planning, where personal stories highlight the complexities of navigating financial decisions. From tackling health uncertainties to leveraging home equity, the dialogue underscores the importance of customized strategies. The episode also explores critical aspects like insurance before age 65, job satisfaction's impact on retirement, and the essential nature of estate planning. Humor adds a light touch as they address the realities of adult children returning home. It's an insightful blend of advice and real-life challenges!
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Couple's Early Retirement Debate
- John and his wife are in their early 60s debating retirement timing with a low mortgage and $1.6 million saved for retirement.
- They are both cancer survivors wanting to retire sooner than their peers who suggest waiting until 70.
Plan Health Insurance Pre-65
- When considering retirement, factor in health insurance coverage carefully if under 65.
- Plan for medical costs between retirement and Medicare eligibility.
Three-Year Work Bridge Insight
- Working three more years can provide a $250,000 golden parachute and allow continuation of employer health insurance.
- This strategy bridges the gap until Medicare eligibility, solving a major financial and health coverage concern.