Jill on Money with Jill Schlesinger

Can I Retire in Three Years?

Dec 21, 2024
Listen in as the hosts tackle the complexities of retirement planning, particularly for those nearing the finish line. They delve into strategies for managing personal assets, like Roth IRAs and brokerage accounts, while weighing the benefits of self-management versus hiring a financial advisor. The conversation shifts to financial dynamics after a big move, including lower living costs and budgeting for renovations. Expect insightful discussions about Social Security, pensions, and critical calculations for achieving sustainable financial health.
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ANECDOTE

Michael's Story

  • Michael, 57, wants to retire by 60.
  • His wife, 56, retired ten years ago with a pension from the post office.
ADVICE

Conservative Savings

  • Treat non-retirement savings conservatively.
  • You'll likely spend about half before age 67, so a balanced approach is crucial.
INSIGHT

Downsizing Impact

  • Downsizing your home before full retirement can significantly improve your financial outlook.
  • This can free up substantial cash for other purposes.
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