Jill on Money with Jill Schlesinger Can I Retire in Just Over Two Years?
7 snips
Dec 8, 2025 In this discussion, Charles, a computer programmer seeking retirement advice, explores his goal of retiring at 62. He shares details about his wife's $80,000 pension and health coverage, emphasizing their financial strengths. They dive into his income, expenses, and Social Security benefits while unpacking his retirement accounts and properties. Jill suggests a strategy for using an inherited IRA to bridge the gap before retirement. With a solid cash buildup plan in place, Jill concludes that Charles is on track to retire in just over two years!
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Build Cash and Delay Inherited IRA Withdrawals
- Delay taking inherited IRA distributions until you stop working to avoid higher taxes while earning.
- Build non-retirement cash now by pausing retirement contributions (but keep employer match) to cover pre-Social Security years.
Wife's Large Pension And Continued Health Coverage
- Charles's wife, a retired teacher and vice principal, receives an $80,000 pension and retains district health coverage until 65.
- Charles currently carries that insurance and will benefit from this coverage while planning to retire at 62.
Pension Plus Social Security Covers Core Needs
- With his wife's $80k pension and both future Social Security checks, their retirement income will likely cover their needs.
- That structural income reduces Charles's financial risk if he retires early and shifts to part-time work.