Jill on Money with Jill Schlesinger
Episode: Are We on the Correct Path?
Date: February 17, 2026
Host: Jill Schlesinger

Episode Overview

In this episode, Jill Schlesinger takes a listener call from Kate in Arizona, who seeks a second opinion on her and her husband's retirement plan after receiving surprisingly conservative advice from a flat-fee financial planner. The conversation dives into practical details of Kate’s finances, questions misleading financial advice, and highlights the importance of gut checks and clear, individualized analysis.

Jill offers direct, jargon-free reassurance and practical insights, questioning the necessity for extreme savings targets and encouraging periodic reassessment instead of worry. The episode combines detailed financial troubleshooting with Jill’s hallmark humor and warmth.

Key Discussion Points & Insights

1. Kate's Financial Snapshot (02:36 - 06:21)

• Age & Income
  • Kate: 39, Husband: 42, no kids.
  • Combined annual income: ~$275,000.
• Retirement Savings
  • Maxing out Roth IRAs and employer retirement plans (401k and 403b, both Roth).
  • Retirement account balances:
    • Employer-sponsored (401k/403b): $385,000
    • Roth IRAs: $125,000
    • Total: ~$511,000
• Additional Savings & Investments
  • Brokerage account: $25,000 (recently started).
  • HSA: $40,000
  • Cash: $220,000, divided as:
    • $60,000 true emergency fund
    • $60,000 short-term savings (vacations, planned expenses)
    • $100,000 in a no-penalty CD (opportunity/psychological safety fund)
• Debt & Real Estate
  • Mortgage: $200,000 left at 2.75% interest on a $500,000 home.
  • No other debts, no rental properties currently.
• Family Obligations
  • Not responsible for supporting parents or siblings.

2. Retirement Goals and Savings Plan (06:43 - 08:07)

• Target Retirement Age
  • Kate: 59, Husband: 62 (20 years away).
• Annual Savings Plan
  • Continue maxing employer plans and IRAs.
  • Intend to save ~$2,000/month ($24,000/year) into a brokerage account.
• Spending
  • Conservative monthly: $7,000; with travel and extras: $10,000–$11,000 ($120,000–$130,000/year).

3. Pension and Social Security (08:16 - 09:33)

• Pension 1: Military service, $2,500/month starting at age 65.
• Pension 2: Healthcare employer, lump-sum option of $1 million or $5,000/month with spousal benefit at 65.
• Social Security: Both expect to receive (with caveat for possible future policy changes).

4. The Questionable Financial Advice (09:33 - 10:45)

• Advice from Flat-fee Planner
  • Planner suggested a necessary retirement nest egg of $9–10 million to retire on their current timeline.
  • Advisor recommended even more aggressive saving ($120,000–$130,000/year) and switching contributions from Roth to traditional accounts for tax purposes.

Jill: "20 years, that's like you're on crack. There's no way." [10:12]

• Jill and Mark find this analysis unreasonable and likely missing key elements (such as the value of pensions).

5. Jill & Mark’s Analysis (11:02 - 15:00)

• Jill’s Assessment
  • Confident Kate and her husband are on track with current savings habits.
  • Notes their aggressive savings and substantial pensions make reaching financial goals very likely.
• Periodic Review Suggestion
  • Recommends annual check-ins with a simple retirement calculator to ensure they stay on track.

Jill: "You are on track to reach your retirement goals. There's 20 long years between now and then. I don't think that you're going to have any problem..." [10:22]

• Mark’s Calculation
  • Using conservative numbers, $70,000/year saved for 20 years could easily grow to ~$5 million, not counting pensions.

Mark: "I just run the numbers, just using round numbers... In 20 years, that's going to get you, conservatively, $5 million." [12:58]

• On Over-Saving and Enjoying Life
  • Jill reassures Kate it's okay to ease up and enjoy their current lifestyle a bit more.
  • The “opportunity fund” (CD) is more psychological comfort than necessary future investment.

Jill: "I don't think you should be looking for rental property. I think what you're doing is great... The mortgage is cheap. You live well below your means. You're saving a ton of money." [11:56]

6. Memorable Quotes & Light Moments

• On Arizona vs. the Northeast:
  • Kate: “You're all loosened up because no cold weather there. You're not shut down, you're opened up, ready to rock and roll.” [01:36]
• On Pensions and Over-Estimating Needs:
  • Jill: "Maybe they're increasing your expenses by a higher inflation rate than we're even thinking about. Maybe I don't get it. Anyway, I wouldn't worry about it. How about that? Isn't my answer better?" [13:25]
• On Communicating With Spouses:
  • Kate: "My husband will be happy because... He'd like to spend a little more now." [13:36]

7. Reassurance and Advice for Listeners (15:00 - End)

• Ignore Unfounded Doom and Gloom
  • Jill emphasizes trusting your gut when advice "doesn't pass the gut check," especially when numbers don't add up.
  • Encourages listeners to get a second opinion when something feels off or when advisors push unnecessary products or fear-based planning.
• Invitation to Listeners
  • Jill and Mark, both CFPs, love to help with honest, accessible financial advice. She encourages listeners to reach out via the show's website for their own check-ups or second opinions.
  • Practical reminder: "Do something nice for someone else today. Change your work, change your wealth, change your life."

Timestamps for Key Segments

• 02:36 – Financial overview: income, savings, investments
• 07:14 – Retirement goals and projected numbers
• 08:16 – Pension details
• 09:33 – Flat-fee advisor’s recommendation (the “$9–10 million” shock)
• 11:02 – Jill & Mark’s analysis—debunking the excessive requirements
• 13:23 – Lighthearted discussion about inflation and enjoying life
• 15:00 – Discussion of switching from Roth to traditional, more aggressive saving
• 16:27 – Jill’s final invitation for listener questions

Summary Takeaways

• Listener Kate is amply on track for early retirement, due to disciplined saving and robust pensions.
• Jill and Mark caution against alarmist or formulaic financial plans that ignore the specifics of pensions, lifestyle, and individual circumstances.
• Periodic check-ins, rather than panic or extreme over-saving, are the healthiest path to long-term financial confidence.
• Listeners should trust their instincts and seek a second look when financial advice feels excessively aggressive or doesn’t “pass the gut check.”
• Enjoying life and financial security are not mutually exclusive—smart saving, reasonable planning, and honest discussion beat “retirement panic” any day.