Jill on Money with Jill Schlesinger When Can I Safely Retire?
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Jun 19, 2025 The podcast dives into the challenges of contemplating retirement at 60, focusing on a listener's job dissatisfaction and emotional hurdles. It highlights the importance of a solid financial foundation, discussing savings, investment portfolios, and living preferences. Strategies for retirement planning are explored, including the significance of social security, tax-advantaged accounts, and the benefits of potentially delaying retirement for financial security. An insightful look at career transitions also addresses feelings of being trapped and the exploration of new opportunities.
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How To Retire Comfortably
- You can retire comfortably if your expenses are about $7,500 per month and you have $1.65 million in retirement savings.
- Use your traditional 401k funds first, let Roth and brokerage accounts grow tax-free until later withdrawals.
Know Your Spending Precisely
- Know your monthly spending to plan retirement withdrawals accurately.
- Even with some uncertainty around pension details, your saved assets and social security benefits are sufficient.
Working Longer Enhances Retirement
- Consider working a few more years if uncertain, to boost retirement savings and ease financial security.
- This extra time can help build Roth and brokerage accounts further before fully retiring.