Can I Go Part-Time?

Summary

Podcast Summary: Jill on Money with Jill Schlesinger

Episode: Can I Go Part-Time?
Date: November 4, 2025
Host: Jill Schlesinger, CFP®
Guest: Jean, Listener from Texas

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Main Theme

This episode centers on listener Jean’s financial crossroads: deciding whether he can afford to go part-time at work while maintaining his family’s security and financial goals. As always, Jill provides direct, jargon-free advice—covering real estate, cash flow, savings, and why sometimes it’s OK to splurge on yourself.

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Key Discussion Points & Insights

1. Listener Profile & Financial Overview

• Jean, 43, married two years, father to a 2-year-old
• Both Jean and spouse work full time; combined salary: ~$300,000/year
• Substantial retirement and investment savings
• Owner of multiple properties (4 rentals plus primary home across several states), all with healthy equity and good mortgage rates

2. The Big Questions

• Jean’s Dilemma:
  • Wants to reduce work hours and spend more time with family
  • Unsure if it’s financially safe to step back
  • Hesitant about splurging on business class tickets for an upcoming Asia trip ("I don't know. Because I'm frugal." – Jean, 11:40)

3. Deep Dive: Assets & Cash Flow

• Retirement Savings (Jean Only):
  • Roth IRA: $164K
  • Rollover: $60K
  • Employer plan: $78K
  • Old 401k: $393K
• Spouse's savings: Unknown; Jill and Mark ([producer]) note importance of financial transparency
• Child Savings: Just started a UTMA instead of a 529 account for flexibility—“If she wants to open a business...she has choices.” (Jean, 06:59)
• Properties:
  • 4 Rentals: Seattle condo ($340K; $172K mortgage), Arizona ($450K-500K; $180K mortgage), Texas ($250K; $150K mortgage), Washington ($650-700K; $130K mortgage)
  • Primary Home: ~$400K value, ~$100K remaining mortgage
• Monthly rental cash flow: Net $2K–3K, “Usually I invest them back to stocks or CDs.” (Jean, 10:38)
• Investments/Cash:
  • Brokerage: $10K
  • Money market: $115K
  • Checking: $52K + smaller additional accounts

4. Expenses & Lifestyle

• Household monthly spending: ~$5,000
• No plans for more children
• Both spouses in good positions, but Jean is hesitant about loosening the financial belt

5. Jill’s Advice

• Permission to Reduce Hours & Enjoy Life:
  • “Obviously you can go part time.” (Jill, 13:25)
  • Income would drop, but plenty of savings/cash flow; could supplement by selling underperforming rental(s) for liquidity
  • To feel more confident, consider:
    • Working with a fee-only financial planner for a detailed cash flow analysis
    • Assessing the performance/value of each property (“Look at the expenses and look at the cash flow and see what’s really working, what’s not.” – Jill, 16:03)
• On Business Class Tickets:
  • “Here’s what I do know. No matter what. Jean, you can fly business class.” (Jill, 16:34)
  • It’s OK to enjoy your money when your finances are secure

6. Notable Quotes & Memorable Moments

• Jill on Voting:
  • “You gotta vote no matter what. Even if you have to hold your nose… Not voting. Not good.” (00:32)
• On Family Finances:
  • “How do you not know [what your wife has]? I have every dollar accounted for. I am telling you, I am an animal about that.” (Jill, 06:10)
• On Real Estate Holdings:
  • “You got so much equity, man.” (Jill, 09:37)
• On Splurging:
  • “Maybe you’re frugal. Well, or cheap, maybe.” (Jill, 11:42)
  • “Business class. Yes, I Jane, I just did it. I just flew to China. Business class. I mean, there’s no going back. So just do it…” (Jill, 17:08)
• On Parenting and College Savings:
  • “Why don’t you want her to go to college?”
  • “Well… if she wants to open a business… she has choices.” (Jean & Jill, 06:56–07:08)

7. Family Communications

• Importance of knowing each other's financial details (“They really do need to know what’s going on with each other’s financial lives. This would be a good time for you to, like, share information...” – Jill, 16:57)
• Jill suggests reviewing estate planning and wills

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Timestamps for Key Segments

• [04:25] Jean introduces his situation and the part-time question
• [05:09] Family & income details
• [06:01] Discussion of retirement savings
• [06:43] Child’s savings account and approach
• [07:22] Inventory of properties begins
• [10:21] Net monthly rental cash flow calculated
• [11:40] The “too frugal for business class” debate
• [12:09] Jean expresses desire for part-time work
• [13:25] Jill: “Obviously you can go part time.”
• [14:28] “Sell a property if you want more liquidity”
• [15:19] Retirement planning at 55
• [16:03] Analyzing property value and performance
• [16:34] “No matter what… you can fly business class”
• [17:08] Jill: “There’s no going back” after business class
• [17:33] Managing travel with a toddler and business class

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Episode Tone

• Warm, humorous, and direct.
• Jill and Mark tease Jean about his frugality, push for more marital financial openness, and emphasize pragmatic permission to optimize both life and finances.

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Actionable Takeaways

• It’s OK to reduce work when your finances allow—money is a means to a better life, not just an end.
• Consider rebalancing assets (e.g., selling a rental) to gain liquidity if work slows down.
• Married couples should understand each other’s complete financial picture, including accounts and assets.
• Don’t feel guilty about enjoying some of your resources (e.g., flying business class with your family).
• Consult a fee-only planner if major changes bring uncertainty.

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Final Thought:
Jill’s definitive encouragement: “You’re really much, you’re very much on track to do what you want to do. I think the hard part for you, it sounds to me like you are not necessarily giving yourself permission to do it.” (16:44)

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For listeners seeking guidance about shifting work or life priorities, Jill’s door is open: submit your questions at jillonmoney.com.

Transcript

[A]

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[B]

I'm new here, so.

[A]

So you had to watch it also. Oh, so you're that one. You're the murderer. Okay, great. That's good to know. Anyone has not watched Hunting Wives. It is fun, it is very campy. I get it. But it's a fun watch. Gene, what can we do for you today?

[B]

Well, I do have a lot of questions, but I think I'm just gonna have few because not gonna have a lot of time. I am thinking about working part time next year and also I have a trip coming up to Asia and I wanna buy my family a business class ticket going, oh, look at you.

[A]

Do it. Do it.

[B]

Mark is all about let's not talk about my finances. I'll just do it.

[A]

All right, Exactly. Okay, wait a second. Let's find out a little bit about you. So Jean, how old are you?

[B]

I'm 43 years old.

[A]

Okay, you're 43. Are you married, partnered, single?

[B]

I am married and I have two years old. We have a two years old.

[A]

You have a two year old. Oh my God. You're very busy. Okay. And are you guys both working full time?

[B]

We are, yes.

[A]

Your spouse is how old, by the way?

[B]

42.

[A]

Okay. How much do you guys make together.

[B]

Just for salary? For both of us? 300 a year.

[A]

Okay. And are you guys putting money away into retirement on that 300 grand?

[B]

Yes, we. We have. Yeah, we have a few, yes.

[A]

Okay, so tell us how much money you've saved already for retirement.

[B]

This is just for me. I have Ira Roth, 164.

[A]

Okay.

[B]

A rollover, about 60.

[A]

Okay.

[B]

I have a match savings account for my current employer right now is about 78.

[A]

Okay.

[B]

And I have a old 401k, about 393.

[A]

Wow, you saved a lot of money. And that's just you.

[B]

Yeah.

[A]

And. And your spouse also saved this much money, like. Or not as much? She.

[B]

She does. I just don't know the actual number.

[A]

Dude, you're married. How do you not know that? I have every dollar accounted for. I am telling you, I am an animal about that. I'm like, give me the statement. Let's go.

[B]

We married? We're two. Two years.

[A]

Oh, sweet. Mark. Mark was running the money before they were married. He had every dollar account. Is. Am I right, Mark? Did you not have every dollar accounted for? I know everything down to the penny. Unbelievable. Because we're crazy. She doesn't know anything. She knows. She doesn't know. She has an idea. She doesn't even know what she has. So forget about what you have. Are you guys Saving for the two year old yet or not?

[B]

I just started an UMA.

[A]

Oh, an UTMA. Not. Not a 529 account.

[B]

No, no. I was going back and forth. I feel like will be a better choice for.

[A]

Why don't you want her to go to college?

[B]

Well, it's something that if she wants to open a business and that's something that I'm not to do and something that she has choices.

[A]

Okay. All right. You're not micromanaging your child. I respect that. How much is in the UTMA right now?

[B]

Well, I just started. It's like dollars.

[A]

Okay. All right. So you're making a lot of money. You got the kid. You guys own a house.

[B]

Yes. So I have four houses before marriage.

[A]

Do you know that you actually only need one, right?

[B]

Yeah.

[A]

So are Four houses. All four rental properties?

[B]

Yeah, they are.

[A]

Okay. Oh, wow, That's a lot, man. Okay, so let's. Wait. I'm gonna. Can I leave that aside for one second? Can you just tell me your primary residence, where you guys are living and raising this kid? That's not one of the four?

[B]

No, that's gonna be the fifth.

[A]

Okay, so the primary, how much is that worth?

[B]

I believe it's like 400 something.

[A]

Is there a mortgage on it?

[B]

There is.

[A]

How much?

[B]

Maybe 100 something. This is her house before marriage. I can't tell you exactly, but.

[A]

Okay. You're staying in the primary. You like it?

[B]

Yeah, I do a lot of little projects here and there. Yes.

[A]

Okay, well, that's good, though. So what are you doing with these four? Are you going to keep them as income properties or are you going to sell some?

[B]

I believe. Well, I was going to put the condo. One of my condo, it's in Seattle. I was going to put it for sale, but it's very, like, slow right now, so I'm keeping it as a rental. So. Yes.

[A]

How much is that? How much do you think that one's worth?

[B]

That's about 340 to 350.

[A]

Okay, and is there a mortgage on it?

[B]

There is.

[A]

Like how much?

[B]

172.

[A]

The other three properties, are they similarly priced or different?

[B]

No, they're in different states. I have one in Arizona.

[A]

Oh, my God.

[B]

One in Texas.

[A]

Okay, what's Arizona worth?

[B]

That's about 450. 500,000.

[A]

Oh, my God. Okay, and what's the mortgage on that one? How much left?

[B]

It's less than 200, so it's about 100,000. 180.

[A]

Okay, and let's talk about Texas. What's Texas worth?

[B]

2. 250.

[A]

Okay. Mortgage.

[B]

About 150.

[A]

Okay. And now what's the fourth one? What's the fourth property?

[B]

The fourth one is in Washington that I owe. That's worth about 650 to.

[A]

Holy smokes. Okay, and what's the mortgage remaining on that one?

[B]

130.

[A]

You got so much equity, man. What are the interest rates of these mortgages? Are they good? Are they not so good?

[B]

They're great. So Texas one is the current one. So that's like four point something, 4.25. And the other three? They're about. One of them is 300. Three point something, 3.75. And the rest is like four point less than five. You say less than five.

[A]

So basically like three to five is like. So you got good. And they're cash flowing. Do you. Are you happy with the money that's coming out? Can you essentially like all this money that's coming out of these homes, these rental properties, is that adding like how much cash flow are you guys getting from that?

[B]

Well, after, you know, the HOA management mortgages, I make about depending, like probably two to three.

[A]

Two to three grand a month?

[B]

Yes.

[A]

And where does that money go for you?

[B]

Usually I invest them back to stocks or CDs.

[A]

So when we were talking about all of your retirement accounts, I didn't ask you about that. So tell me about brokerage account. Like what do you have bro in the brokerage account or CDs? Give us a little rundown of some of that stuff.

[B]

Right, So I have a brokerage account which is 10, 10K on that and have a money market of 115. I have a checking account of 52K.

[A]

Okay, great.

[B]

Another checking account for like 7.

[A]

Okay. And so that's all the assets we got the four rental properties. We have the brokerage, the money market, the checking accounts. We've got the retirement accounts. You're doing incredibly well. You're 43 years old. You're married to a. This woman who's got a house. We know nothing about her, we know nothing about her situation. But sounds like things are good. Really good. Right. So what's the deal? Why can't you buy yourself a business class ticket, for God's sakes?

[B]

I don't know. Because I'm frugal.

[A]

Well, or cheap maybe.

[B]

That could be.

[A]

Maybe cheap. I know a lot about Gene without even knowing Gene. You really do. You got the whole thing. Okay, well, we're going to just wait once before you make your assumptions, mister. So let me ask you something, Gene. Is it. You didn't call really about the, the tickets. But what's your. What is your. What you think is like the priority right now? Like what's going on for you guys?

[B]

Well, I, I do want to work part time.

[A]

Okay, so you want. Okay, so your salary together is 300. If you went to part time, what would your take home be for not your take home, what would your combined income be?

[B]

Probably half of that. Half of my. I make like here about 100 without counting the properties, I make about 107. So if I have to go part time, that it will be half of that.

[A]

Okay, so you would together be at 150 without the two to three grand from the houses. Right. Okay. What do you think you spend on a monthly basis? Cheapskate. That won't buy business class.

[B]

Five probably.

[A]

That's it.

[B]

That's it.

[A]

So what's stopping you from going part time? Because you're just fearful.

[B]

I've worked my whole life so.

[A]

Well, you're not going to stop working, you're just going to go part time.

[B]

Right, Right. That's the thing. I think I'm not used to. I, you know, moving from this state already made less so because I was in, you know, like up there in Washington state.

[A]

Yeah. And then you move for love.

[B]

Yes. Souvenir. That's, that's what she told everybody. Brought a souvenir from Seattle. So I'm like, perf.

[A]

Oh my God, I love this so much. Okay, so I mean you only have a 2 year old. Do you think you're gonna have more kids?

[B]

No. No.

[A]

Okay. So I mean obviously you can go part time. And the other thing you could consider is once you go to part time, right. And you're filing jointly. Right. You're married. Filing jointly. Okay. So one thing to think about, let's just pretend you went from your 300ish. But you know, of course we know you have more money coming in, but let's say so your incomes plus you have the income from the four houses. Right. So we would put that, I would imagine more like, you know, 3:30, 3:40. I know you have expenses, but let's just, you know, you're solidly in the 24% bracket. It is possible that if you go part time and you move down to the 22% bracket, you know, and you're making 150 grand, that maybe you would even consider selling one of your properties or you know, eventually not all of them, but you know, you might look at each of these properties and try to determine what's really working and what's not. I mean, I look at that one in Washington State, that last one that you were talking about, the 650 to $700,000 one where you have this $130,000 mortgage and you know, if you sold that next year, you know, you might really find that that extra money. If you had, I don't know, if you had 450 to 500 after taxes and ever say you had 450 and you put that in the brokerage account and you diversified out of real estate a little bit. Not a lot, you don't have to sell all four, but like if you sold one or two of these properties, you might feel more comfortable about moving to part time. I know the income would go down, but you'd also have access to money and that might be something that could be really useful for you.

[B]

Yeah, I never really thought of that because I thought that. And also I guess it factors to. We're thinking about retirement at age 55 as well.

[A]

Yeah, I mean, not to say that real estate can be amazing, but as, I mean, I don't know if owning. Because you own real estate across three different states and you have to pay managers and costs are the cost, but like you've made a lot of money on these, I presume. And it would seem to me that having some of that access to the money, the liquidity might be really helpful. And you know, it seems like you guys have done an incredible job and I'm sure that she has some money saved also. So I don't see why going part time seems like a terribly difficult task for you. You know, you don't spend a lot of money and this might be a good time. You know, when you have a two year old, it's kind of nice to be like, all right, well, you know, sometimes our lives can improve if we're not working all the time, both of us. So that could be something also that's interesting. So I think, I think this is quite doable. I think if you want extra security around this, you can always talk to a fee only financial planner, run some numbers for you, get a sense of like, which of these properties they think is like the higher performing ones. Because you, you know, you can look down and you can look at the expenses and look at the cash flow and see what's really working, what's not, and maybe that'll give you some more security. Here's what I do know. No matter what. Gene, you can fly business class.

[B]

Well, that's good to know. See that justified my, my call today.

[A]

Absolutely. But I mean, I also think you're really much, you're very much on track to do what you want to do. I think the hard part for you, it sounds to me like you are not necessarily giving yourself permission to do it. And I'd like you to. If you need more proof, then we can get you, you know, you can do a financial plan. You can really work with somebody to do that. Mark, do you see any holes in this plan? The only hole for me is that they really do need to know what's going on with each other's financial lives. This would be a good time for you to like, share information when you do your. Have you done your estate planning? Do you have wills? Have you talked these things you know. Come on. Business class. Yes, I, I Jane, I just did it. I just flew to China. Business class. I mean there's no going back. So just do it, do it, do it, do it, do it. Okay.

[B]

Yeah, I do. I have to buy tickets for for our two years old to three of us. So I think it will be comfortable with a toddler on the plane.

[A]

You know, be amazed how many kids you see in business class full of kids. I don't love that. As somebody who flies business class quite a bit but I'm keep your kid quiet while as long as they behave, it's all good. Yeah, of course. Exactly right. But the crying kid in business class, it's like really not great. But you know what? Noise canceling headphones. They're a beautiful thing. They really are. Jean, keep us posted. Let us know what's going to happen next. I'm excited for your next chapter. Jean's working part time. Can you if you've got a question about shifting your priorities, if you are looking at your mid career cycle and saying I don't want to work this hard, then get in touch with with us. Go to jillonmoney.com click the contact us button. Write us a note if you'd like to join us on the air. Check the box. Mark will do everything else. And while you're on the website, don't forget to sign up for the free weekly newsletter. It's fantastic. Don't forget to go out and vote. Don't forget to go out and vote. You can subscribe to us on the Odyssey app or wherever you find your favorite podcast. Lift someone up. Change your work. Change your wealth. Change your change your life. Thank you for listening. We'll talk to you tomorrow. Hey gang, here's the thing about wine. Some of the best bottles are not sitting on a store shelf. They're being crafted at small independent wineries. But those wines can be so hard to find Sometimes I wish I had a personal sommelier to guide me to find the best wines I normally wouldn't be able to access. Where's that handcraft pinot that I've been craving? Well, Psalmsation's expert team seeks out incredible wines from top independent producers. These are bottles that you will not find in stores and on shelves. They aren't mass produced wines. They're handcrafted with care, using pure ingredients and meticulous winemaking. Whether you want a single bottle, a guided tasting experience, or an entire wine club membership, Psalmsation makes it easy to elevate your wine experience. Shop their [e-mail] jillonmoney that's somsation.com jillonmoney.