HerMoney with Jean Chatzky

PREVIEW: Starting Over at 68 — A Patreon-Exclusive AMA With Donna

Release Date: December 4, 2025
Host: Jean Chatzky
Guest: Donna

Episode Overview

In this special preview episode of HerMoney, host Jean Chatzky launches a new, Patreon-exclusive AMA (Ask Me Anything) format, featuring candid, one-on-one conversations with listeners facing real-life financial challenges. Today’s guest, Donna, is 68 years old and recently returned to full-time work after years of part-time employment and a long-term disability. Having recently ended a 30-year marriage and now earning a significantly higher salary, Donna is seeking practical advice on how to reinvest, rebuild, and safeguard her financial future as retirement draws nearer. The episode delves into the complexities of “starting over” financially later in life, touching on investing, account selection, dealing with “small” portfolios, and leveraging newfound income.

Key Discussion Points & Insights

Donna’s Background & Situation ([01:11]–[07:36])

• Life Changes and Career Transition:

  • Donna, 68, lives in Poulsbo, Washington, a small, close-knit tourist town.
  • After a 30-year marriage ended, she moved locally, still works in Poulsbo, and recently shifted to full-time employment at an eco-tourism company where her daughter (her boss) also works.
  • Previously worked part-time for decades due to medical issues and disability.

• Emotional and Financial Impact of Change:

  • “It’s a big paradigm shift for me to have to be, you know, out of the house, like a 9 to 5. But along with that shift is a paycheck, a nice paycheck, which I haven’t gotten one yet… I want to be able to do something with the money that makes sense, that can grow the money, and I’m just at a loss.” — Donna [02:36]

Financial Snapshot ([03:51]–[06:42])

• Assets and Accounts:

  • 401(k): Around $6,700, reflecting years of part-time contributions and a 4% employer match.
  • House: Owned outright, valued at ~$550,000.
  • Merrill Lynch Account: Approximately $80,000, consisting mostly of Roth funds with a small IRA portion.
  • CD (Credit Union): $20,000.
  • Ally Savings: Used as emergency savings.

• Recent Financial Decisions:

  • Cancelled a new home purchase after red flags surfaced in the development, resulting in a $12,000 loss. Donna views it as a necessary, if costly, decision: “Sometimes it’s better safe than sorry.” — Donna [06:04]

Income and Goals ([06:20]–[07:36])

• New Earning Power:

  • Donna’s new salary is about $90,000 per year (“double basically what you were earning” — Jean [06:29]), providing significant new saving opportunity.

• Priorities:

  • Main objective is to build toward retirement, utilizing increased income for strategic saving and investing.
  • Expresses frustration at difficulty finding financial advisors willing to work with a “smaller” portfolio:
    • “I’ve talked to four different people and they, because my portfolio is low for them, it’s like, well, it’s not worth it for us to have you and it’s not worth it for you to pay a fee. And so I’ve just been… dog paddling… three years… on this route to get some direction and help.” — Donna [06:52]

• Jean’s Advice (Initial Overview):

  • Emphasizes maximizing use of tax-advantaged investing (401(k), Roth IRA).
  • Points out the value of Donna’s new monthly savings power and the need for a portfolio that will last “to and through retirement.”
  • “You want to put as much of it into tax-advantaged investing as possible.” — Jean [07:36]

Retirement & Living Expenses ([08:07]–[09:11])

• Social Security:

  • Donna is already receiving payments (converted from disability to Social Security at full retirement age).

• Expenses:

  • Living costs are low: house is paid off, daughter shares living expenses and covers utilities and taxes.
  • Donna mainly pays for food, gas, and home maintenance.

• Retirement Outlook:

  • Donna aims to work for five more years (maybe up to ten), but wants clarity on how to optimize savings during this period.

Notable Quotes & Memorable Moments

• On Exercising Caution Despite Financial Loss:
  “Sometimes it’s better safe than sorry.” — Donna [06:04]

• On Advisor Accessibility:
  “Because my portfolio is low for them, it’s like, well, it’s not worth it for us to have you and it’s not worth it for you to pay a fee… three years… on this route to get some direction and help.” — Donna [06:52]

• On the Opportunity of a New Start:
  “You’ve got a great opportunity here because… you’re going to be spilling off a couple thousand dollars a month that you’ll be able to invest.” — Jean [07:36]

Timestamps for Important Segments

• [01:11] Donna introduces herself; life in Poulsbo, Washington.
• [02:36] Donna describes her career break, return to full-time, and financial disorientation.
• [03:51] Breakdown of assets: 401(k), house, Roth IRA, CD, and savings.
• [06:04] The decision to cancel a home purchase and absorb the loss.
• [06:29] Earning $90,000/year and impact on savings potential.
• [06:52] Challenges with financial advisor access and “small” portfolios.
• [07:36] Jean’s foundational advice—tax-advantaged savings, goal to build a retirement portfolio.
• [08:23] Donna’s Social Security situation.
• [08:50] Current low living expenses; daughter shares household costs.
• [09:11] Preview ends; Patreon invitation.

Summary

This preview episode candidly showcases the financial complexities of “starting over” in one’s late 60s—navigating newfound income after life upheaval, seeking help when traditional advisory models fall short, and the pursuit of security amid uncertainty. Jean Chatzky and Donna touch on deeply human challenges—decision fatigue, the sting of financial missteps, and the dignity in taking another shot at financial independence. The conversation sets up a practical, hopeful roadmap for women in similar shoes, emphasizing actionable steps and the value of community support.

To hear the full conversation—including tailored advice on retirement planning, RMDs, Social Security, and creating a sustainable financial plan—subscribers can access the full episode on Patreon.