Jill on Money with Jill Schlesinger

On Track for Retirement in 12 Years?

10 snips
Jun 18, 2025
Explore the journey of educators navigating their retirement plans amid New York's pension system. Delve into financial strategies for balancing expenses with enjoyable living while planning for the future. Discover smart savings tactics for funding college education through 529 plans, and learn the intricacies of utilizing dual retirement accounts, especially Roth options. The conversation also touches on the emotional challenges faced by the 'sandwich generation' when making financial decisions, providing valuable insights for anyone eyeing a secure retirement.
Ask episode
AI Snips
Chapters
Books
Transcript
Episode notes
INSIGHT

Work-Life Balance Drives Finances

  • People are seeking better work-life balance post-COVID due to increased work demands and recession fears.
  • Financial decisions are strongly tied to psychological well-being, not just numbers.
ANECDOTE

Teacher Couple's Retirement Plan

  • Max and his wife, both teachers in New York, have substantial pensions and combined income of $255k.
  • They plan to retire around age 57, confident their pensions and savings will cover living expenses and occasional vacations.
ADVICE

Plan Retirement Fun Budget

  • Max and his wife should monitor monthly expenses post-mortgage to balance savings and lifestyle.
  • Maintaining about $20,000 annually for fun and vacations in retirement is realistic for their goals.
Get the Snipd Podcast app to discover more snips from this episode
Get the app