Jill on Money with Jill Schlesinger Why Save for Retirement?
4 snips
May 16, 2025 The discussion kicks off with the importance of staying calm in financial decisions during turbulent times. A personal retirement journey shares strategies for managing 401k and Social Security as one plans to retire early. The emotional hurdles of investment regrets come to light, especially regarding paper bonds. Listeners are urged to focus on current financial well-being while weighing whether to invest or pay down debt. Finally, the significance of personal happiness in financial journeys is highlighted, alongside the essential role of real estate guidance.
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Early Retirement Planning Advice
- Use the Rule of 55 to access your 401k without penalty if retiring early.
- Work part-time post-retirement and make future 401k contributions to Roth to maximize tax flexibility.
Handling Paper Savings Bonds
- Convert paper savings bonds to electronic form via TreasuryDirect for easy management.
- Keep copies of all bonds before submitting them to the Treasury for transfer or redemption.
Move Past Investment Regrets
- Avoid dwelling on past investment regrets and focus on your current financial situation.
- Assess if your current assets and plans meet your lifestyle needs going forward.