Jill on Money with Jill Schlesinger — “Burned Out and Really Want to Quit”

Episode Date: January 16, 2026
Guest: Jennifer from Washington State

Episode Overview

In this episode, Jill Schlesinger takes a call from Jennifer, a 62-year-old nurse feeling burned out and ready to retire. Together with her producer Mark, Jill unpacks Jennifer’s finances, options for early retirement, and emotional well-being, offering insight and guidance on how (and whether) to hit the “eject” button on work without jeopardizing long-term security.

Key Discussion Points & Insights

1. Jennifer’s Background and Burnout

• Jennifer is a single, child-free nurse with 30 years’ service.
• She worked through the COVID pandemic and now feels exhausted, even though her current job is no longer direct patient care.
• She expresses a strong desire to quit soon due to burnout.
  • “Well, I’m 62 years old and I am wanting to retire. I’m one of those burned out nurses from the COVID days... I’m ready to be done with all of it.” (03:37)

2. Financial Snapshot

• Pension:
  • From a previous employer, eligible for Tier 1 pension.
    • $1,670/month if taken now at 62; $1,993/month at 65.
• Retirement Savings:
  • $530,000 in IRA rollover (pretax)
  • $66,000 in Roth IRA
  • $37,000 in taxable brokerage
  • ~$38,000 in cash management
  • Additional $10,000 to roll over
• Other Income Streams:
  • At 65, eligible for an additional $700/month stream
  • Anticipated Social Security at 67: $3,500/month
• Annual Earnings: About $146,000–$148,000
• Monthly Spending: $5,000–$6,000 (Jill recommends planning on $7,000 to include health insurance)

3. Key Challenges & Questions

• Managing the gap before becoming eligible for Social Security and Medicare
• Dealing with high health insurance expenses pre-Medicare
• Supporting her elderly mother (financially and with care), who is on a fixed income
• Potentially needing to draw down retirement accounts before age 67

4. Addressing Healthcare (Post-Work Options)

• Lowering reported income via pension could help qualify for cheaper health insurance ($700–$800/month, high deductible plan)
• The ACA health exchange would be $1,300–$1,400/month
• Option to do COBRA for 18 months, then ACA exchange

5. Retirement Feasibility Analysis

• Jill’s Perspective: Cautiously optimistic but not a “slam dunk” to retire immediately

  • “I think it can work, but it’s not easy breezy.” (11:57)

• Key risk: Spending down retirement accounts too fast before Social Security and Medicare kick in

• Jill suggests:

  • Consider working a bit longer (even at lower capacity) to reduce financial pressure
  • Explore part-time options — even outside current employer, to minimize IRA withdrawals

• Mark’s Take:

  • “I’m not as concerned as you are. I think it works. We really gotta get from now until, you know, 67ish.” (11:38)
  • Stresses that after age 67, Social Security and pensions will cover most expenses

6. The “Halfway” Solution

• Jill suggests splitting the difference:
  • Take a part-time or shift work role, even if only for a couple years, ideally making ~$70,000/year
    • “Could you make half as much money? … Then I’d feel better about the plan.” (15:15)
• Jennifer is open but notes her employer prefers full-time staff and only recently allowed her to cut to 70 hours biweekly

7. Retirement Contributions and Management

• Mark advises Roth contributions over pretax at Jennifer’s stage
  • “I certainly wouldn’t do pre tax. I don’t see the need for that. I would do Roth.” (15:51)
• Jennifer pays a Fidelity advisor ~$4,000/year, feels comfortable not managing investments herself
• Jill is okay with that as long as the advisor is proactive with comprehensive planning

8. Estate Planning Gaps

• Jennifer has not completed her own estate planning
  • Jill urges updating beneficiary designations and drafting necessary documents
    • “Go call the attorney right now. That’s what happens.” (17:32)
• Mother’s house unlikely to have equity due to a reverse mortgage

9. Care Obligations & Sibling Dynamics

• Jennifer helps care for her 87-year-old mother and is the primary support (sibling unable to help due to health issues)
• Discussion about possibly moving in with her mom to reduce costs is mostly in jest, as Jennifer prefers her independent, below-market rent

Notable Quotes & Memorable Moments

• On Burnout:

  • “If you are so fried and you just gotta say, I’m done, then, like, you’ll have to maybe say that you’ll do some shift work every, you know, so often if things go wrong.” (12:21) — Jill

• Mark’s Pragmatism:

  • “You have to spend down for a few years.” (11:56)

• On Emotional Readiness:

  • “I’m not the kind of person who desperately wants to make you do stuff you don’t want to do. That’s terrible.” (14:57) — Jill

• On the Limits of Planning:

  • “The path of least resistance does not get you where you want to go.” (17:37) — Jill

• Financial Fundamentals:

  • “You have a profession that is highly desirable. Everybody needs a nurse all the time.” (15:01) — Jill

Timestamps of Important Segments

| Timestamp | Segment | |:----------:|-------------------------------------------------------| | 03:37 | Jennifer introduces her burnout and desire to retire | | 04:35 | Pension options detailed | | 06:05 | IRA rollover, Roth, and brokerage account breakdown | | 07:34 | Spending and budgeting for post-retirement | | 08:47 | Health insurance costs and ACA exchange discussion | | 10:19 | Exploring reduced work hours vs. full retirement | | 11:38 | Mark’s perspective: “I think it works...” | | 13:36 | Jill’s risk assessment: market downturn, longevity | | 15:16 | Jill suggests part-time/less work to bridge gap | | 15:51 | Roth IRA and financial management discussion | | 16:41 | Advisor satisfaction check | | 17:32 | Urgent estate planning reminder |

Key Takeaways

• Jennifer is close to being able to retire but must carefully weigh the tradeoffs, especially with rising health costs and possible market volatility.
• Continuing any form of work, ideally part-time, will significantly reduce risk and stress on her retirement assets, especially over the next five years.
• Emotional well-being and readiness for change are as important as the math.
• Updating estate plans and beneficiary designations is urgent, given family dynamics and care responsibilities.

For listeners facing similar burnout or retirement dilemmas, Jill emphasizes the value of honest assessment, incremental changes, and professional planning. Her accessible, conversational style keeps the discussion reassuring while delivering hard truths.