Jill on Money with Jill Schlesinger Worried About Having Enough Money
Dec 17, 2024
Discover the anxiety of saving for retirement and the uncertainty of having enough money. Delve into the intricacies of timing your retirement and optimizing Social Security benefits. Explore the financial challenges faced by city dwellers, as well as smart budgeting tips. Unpack a listener's financial situation before retirement, weighing spending against saving for future adventures. Finally, gain insights on navigating financial worries during the holiday season while still enjoying travel on a budget.
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Retirement Questions
- Iris, 64, asked if her retirement savings are enough and when to take Social Security.
- She also wonders how to maximize enjoyment of her savings.
Modest NYC Living
- Iris lives modestly in NYC on $6,000/month, including $3,100 rent.
- Jill and Mark express surprise at Iris's low spending, given NYC's high cost of living.
Social Security Timing
- Jill advises Iris to wait until 70 for full Social Security benefits, given her good health and family longevity.
- Iris's current savings and pension, combined with Social Security, will likely cover her expenses.