Podcast Summary: "Can I Continue to Coast?"

Podcast Information:

• Title: Jill on Money with Jill Schlesinger
• Host/Author: Audacy
• Description: Hosted by Jill Schlesinger, CFP®, the podcast delves into sometimes uncomfortable and controversial money and investing issues, stripping away financial jargon to focus on what truly matters. Each week, Jill engages with listener calls and interviews knowledgeable guests to uncover surprising insights and provide actionable information to help listeners maximize their financial health.

Episode Details:

• Title: Can I Continue to Coast?
• Release Date: August 12, 2025

Introduction

In the episode titled "Can I Continue to Coast?" released on August 12, 2025, Jill Schlesinger addresses the financial anxieties of listeners who, despite having significant savings and retirement plans, find themselves feeling overwhelmed and uncertain about their financial future. The episode features a heartfelt conversation with a listener named Toni from Pittsburgh, who seeks guidance on managing her finances without succumbing to panic.

Listener Profile: Toni's Financial Landscape

[04:38] Toni introduces herself:

• Age: 45
• Marital Status: Single
• Dependents: None
• Employment: Full-time position with the state government for nearly nine years
• Income: Approximately $230,000 annually

Financial Assets:

• Retirement Accounts:
  • 457 Plan: Split equally between pre-tax and Roth contributions, totaling around $100,000 each.
  • 403B: From a previous job, holding approximately $350,000 (traditional).
  • Cash Balance Plan: About $40,000.
• Brokerage Accounts:
  • Primary Brokerage: Approximately $275,000.
  • Fidelity Account: Roughly $20,000.
  • Backdoor Roth Brokerage: Around $15,000.
• Savings: $450,000 in high-yield savings accounts.

Real Estate:

• Primary Residence: Valued at approximately $350,000 with an outstanding mortgage of $160,000 at a 3% interest rate.

[05:13] Toni shares her financial management style:

"I tend to just let them kind of take care of themselves. And then about once a year, something happens, and I panic, and I dig in, and I become quickly overwhelmed and go back to my initial approach, which is just to ignore it."

Understanding Toni's Financial Concerns

Despite having substantial savings and a robust retirement plan, Toni grapples with periodic anxiety that disrupts her financial stability. Her approach of "out of sight, out of mind" leads to a cyclical pattern of neglecting her finances until unforeseen events trigger panic.

Jill's Observation:

“Out of sight, out of mind, panic, overwhelmed, then out of sight, out of mind.” ([05:04])

Toni acknowledges working with a certified financial planner (CFP) who understands her goals:

“I do work with a certified financial planner. And he's great. I believe that he understands me and my concerns and my goals.” ([05:13])

However, the emotional toll manifests during moments of financial stress, prompting her to reach out for reassurance and guidance.

Expert Guidance: Reassuring Financial Stability

[11:09] Toni discusses her retirement plans:

• Retirement Age: 60, primarily to retain health insurance benefits.
• Projected Pension: Approximately $130,000 annually based on current salary.

Jill and Mark's Analysis:

Jill Schlesinger and her executive producer, Mark, delve into Toni's financial details to provide clarity and reassurance.

Key Points Discussed:

1. Sufficiency of Retirement Funds:

   • Toni's pension alone is projected to cover almost all her future expenses.
   • Jill remarks: "That means that your future pension would cover almost all of your needs. It's pretty remarkable." ([12:58])

2. Investment Portfolio Analysis:

   • Total Investments: Approximately $4 million combined, factoring in pensions and savings.
   • Emphasis on the growth of investments and their ability to keep pace with inflation.

3. Savings Strategy:

   • High-Yield Savings Accounts: Providing a safety net but potentially causing anxiety due to high liquidity.
   • Recommendation: Transitioning a portion of cash into Certificates of Deposit (CDs) to earn fixed interest and reduce floating funds that contribute to worry.
   • Jill suggests: "Maybe put some of that money into a CD because if I think interest rates are going to start coming down over the next year." ([18:43])

4. Brokerage Account Management:

   • Diversification and Investment Vehicles: Encouraging Toni to review the specifics of her brokerage accounts with her CFP to ensure optimal investment strategies.
   • Jill advises: "Walk through these investments with the CFP or send us a PDF... and we can actually explain exactly what you have." ([21:09])

Emotional and Psychological Aspects of Financial Planning

The conversation underscores the interplay between financial security and emotional well-being. Toni's background as a child of immigrants adds layers to her financial behavior:

Jill's Insight:

"The pattern is... I have to work so hard, save so much because my parents struggled... and I can't count on anything. The rug could get pulled out from under me at any time." ([16:24])

Strategies for Overcoming Financial Anxiety:

• Building Trust in Financial Plans: Reinforcing the reliability of experienced financial planners to provide unbiased reassurance.
• Structured Financial Education: Encouraging comprehensive understanding of investments to demystify financial instruments and reduce anxiety.
• Emotional Support: Acting as "emotional Sherpas" to help listeners carry their financial fears and find stability.

Actionable Steps and Reassurances for Toni

1. Reallocating Savings:

   • Moving a portion of savings into interest-bearing instruments like CDs to provide fixed returns and reduce the anxiety associated with large cash reserves.

2. Investment Review:

   • Detailed examination of brokerage accounts to ensure investments align with long-term goals and risk tolerance.

3. Enhanced Financial Planning:

   • Continued collaboration with the CFP to adjust plans as circumstances change, ensuring flexibility and resilience in Toni's financial strategy.

Toni's Response:

“I think it's a possibility. I think I would feel better about it once I become vested.” ([18:32])

This indicates her willingness to adjust her financial strategies based on expert recommendations, signaling progress towards overcoming her financial fears.

Key Takeaways and Insights

• Holistic Financial Planning: Integrating emotional well-being with financial strategies leads to more comprehensive and sustainable financial health.

• Breaking the Cycle of Financial Panic: Proactive engagement with financial planners and adopting structured investment strategies can help break the pattern of neglect and panic.

• The Role of Psychological Safety in Financial Decisions: Ensuring that financial decisions are backed by reliable plans and expert advice can alleviate anxiety and foster confidence.

Notable Quotes:

• Jill Schlesinger: "We are the emotional Sherpas, we're taking that baggage off of you onto us." ([21:41])
• Toni: “I think I needed to hear that I'm fine and that it came from like a third party with like no vested interest.” ([15:14])

Conclusion

In this episode, Jill Schlesinger effectively addresses the common yet often unspoken fear of financial instability despite having substantial assets. Through a compassionate and analytical conversation with Toni, the episode highlights the importance of emotional support in financial planning. Jill and Mark provide not only expert financial advice but also the necessary emotional reassurance to help listeners like Toni navigate their financial journeys with confidence and peace of mind.

Listeners encouraged to engage with the show can visit jillonmoney.com to submit their own financial concerns and potentially be featured in future episodes, continuing the journey towards financial empowerment and emotional well-being.

[Refer to Timestamps for Detailed Insights Abovely]