Navigating Retirement in France

Summary

Podcast Summary: Navigating Retirement in France

Episode: Navigating Retirement in France
Release Date: February 24, 2025
Host: Jill Schlesinger, CFP®
Platform: Audacy
Description: In this episode of "Jill on Money with Jill Schlesinger," host Jill Schlesinger engages with listener Tim, who has transitioned to retirement and relocated to the south of France. Together, they delve into the financial intricacies of retiring abroad, the challenges of managing assets internationally, and the balance between saving and enjoying retirement.

---

1. Introduction to the Episode

Mark, co-host of the show, welcomes listeners and introduces the guest, Tim, who has recently moved to the south of France. The episode aims to explore the financial aspects of retiring in a foreign country, specifically France, highlighting real-life experiences and practical advice.

---

2. Meet Tim: A Retiree in France

Mark (01:44): "Welcome to the Jill on Money Show. This is the program that attempts to help you make better or at least less bad financial decisions."
Mark sets the stage for the conversation, emphasizing the show's mission to assist listeners in making informed financial choices.

Tim (03:57): "I've always wanted to live here. My mother was French before she became American. I grew up in the US but spent all my summers in France with my grandparents, and it just felt like the place for me."
Tim shares his personal connection to France, revealing a lifelong aspiration to live there, influenced by his French heritage and childhood experiences.

---

3. Tim’s Financial Landscape in Retirement

a. Sources of Income

Tim (05:31):
Tim explains his primary sources of income post-retirement:

• Deferred Compensation Plan: "We have about 60 dwindling down to 40 grand a year from that." This income will last approximately eight more years.
• Bank Accounts and Interest: "There is about $110,000 coming in from just bank accounts... $1.9 million in a brokerage and about $1.8 million in banks." These funds generate substantial interest, providing ongoing income.

Mark (07:10):
Mark clarifies the structure of Tim's finances, ensuring accurate understanding: "Are you saying you have $110,000 in interest coming from bank accounts?"

Tim (07:23):
Tim confirms, highlighting that his taxable accounts generate significant interest, separate from his IRA and Roth IRA holdings.

b. Investments

Tim (08:24):
Discussing his investment strategy, Tim notes: "Out of that money, only about $100 grand is in, like, BTI. Pretty much it's cash."
This indicates a conservative approach, with the majority of his taxable accounts held in cash equivalents.

Mark (08:37):
Mark probes further into the investment allocation, understanding the balance between cash and investments.

Tim (08:51):
Tim provides specifics:

• Traditional IRA: $2 million
• Roth IRA: $1.3 million

c. Real Estate Holdings

Tim (09:15):
Upon relocating, Tim sold his U.S. apartment and purchased an equivalent property in France: "We have an apartment that I paid €600,000 for, which is about what I sold my old apartment in the US for."
This move was facilitated by favorable exchange rates and strategic timing.

---

4. Living Expenses in the South of France

Mark (09:59):
Mark inquires about Tim's annual spending: "You have a lot of money coming in. What do you spend on an annual basis living in France right now?"

Tim (09:59):
Tim breaks down his expenses:

• Basic Household Expenses: "$1,200 a month"
• Discretionary Spending: "$1,100 a month"
• Total: Approximately $2,500 per month

Mark (10:46):
Reflecting on Tim's frugal lifestyle, Mark highlights: "Even if in eight years, okay, you've exhausted that, you're not really even spending that interest that is being generated from the bank account and the taxable cash account, right?"

Tim (10:44):
Tim comments on his minimalist approach: "I'm just not a spender."

---

5. Balancing Saving and Enjoying Retirement

Mark (12:55):
Mark addresses the psychological aspect of spending in retirement: "It strikes me that so many of you have a hard time figuring out how to enjoy the fruits of all of your labor."
He encourages listeners to find a balance between saving and enjoying their wealth.

Tim (13:20):
Tim acknowledges the need to treat himself: "We could probably travel more... Maybe I will treat myself to a Diet Coke when we do go out."
This statement underscores the challenge of allowing oneself to spend after years of saving.

Mark (14:58):
Mark offers practical advice: "I would encourage you to try to travel and do a little more spending... maybe put some amount of money in that account and then say to your wife, look, we don't spend any money. But why did we come to do this if we're not going to travel?"
He suggests creating a separate budget for discretionary spending to ease the transition.

Tim (15:04):
Tim considers Mark's suggestion: "I'm a bucketed kind of thinker, so I was actually thinking of doing that, like, just open an account and say this was already accounted for. This is fun money."

---

6. Estate Planning Challenges in France

Mark (16:12):
The conversation shifts to estate planning: "Do you have your estate documents done?"

Tim (16:12):
Tim admits he hasn't finalized his estate plans due to French inheritance laws: "In France, there's a 60% tax on assets in a trust... I'm waiting to talk to a French lawyer about the right way to set that up."

Mark (17:02):
Mark emphasizes the importance of estate planning: "You just don't want to saddle your spouse who's younger and more likely to outlive you with that responsibility."
He advises Tim to consult with a French estate attorney to navigate the complexities.

---

7. Final Insights and Recommendations

Mark (19:02):
Mark encourages Tim to embrace his new lifestyle: "Go spend some money on a therapist. Yeah, exactly. Good idea."
He playfully suggests ways for Tim to become more comfortable with discretionary spending.

Tim (19:26):
Tim plans to manage his finances strategically: "I'm thinking about moving all that cash into a tax-free money market account... also thinking of buying the Schwab to get qualified dividend income instead of ordinary income."
Tim demonstrates proactive financial planning to optimize his income while minimizing taxes.

Mark (21:29):
As the conversation wraps up, Mark offers support to listeners in similar situations: "If you're just really kind of freaked out about this idea that you used to make money and save money, it's really hard to spend money, get in touch with us. We are very good at walking you through the ways to get you to the place you want to get to."
He invites listeners to seek guidance in balancing saving and enjoying their retirement funds.

---

Key Takeaways

1. Strategic Financial Planning is Crucial: Tim's approach to managing his deferred compensation, bank accounts, and retirement funds showcases the importance of diversified income sources in retirement.

2. Balancing Saving and Spending: Transitioning to retirement involves not just accumulating wealth but also finding ways to enjoy it without compromising financial security.

3. Navigating International Financial Laws: Retiring abroad presents unique challenges, especially concerning estate planning and taxation. Consulting with local experts is essential.

4. Psychological Aspects of Retirement Spending: Overcoming the fear of spending after years of saving is a common hurdle. Creating separate budgets for discretionary spending can aid in this transition.

5. Maximizing Tax Efficiency: Tim's consideration of tax-free accounts and qualified dividend income illustrates strategies to optimize income during retirement.

---

Notable Quotes

• Tim on Moving to France:
  "I've always wanted to live here. My mother was French before she became American."
  (03:58)

• Mark on Estate Planning:
  "You just don't want to saddle your spouse who's younger and more likely to outlive you with that responsibility."
  (18:32)

• Tim on Spending in Retirement:
  "I'm just not a spender."
  (08:15)

• Mark on Enjoying Retirement:
  "It's so weird that so many of you have a hard time figuring out how to enjoy the fruits of all of your labor."
  (21:14)

---

Conclusion

This episode of "Jill on Money with Jill Schlesinger" provides a comprehensive look into the financial considerations of retiring abroad, using Tim's experience as a case study. From managing diverse income streams and navigating international tax laws to overcoming psychological barriers to spending, the conversation offers valuable insights for listeners contemplating a similar move. The hosts emphasize the importance of proactive planning, seeking expert advice, and finding a healthy balance between saving and enjoying one's retirement.

---

For more information and personalized advice, visit jillonmoney.com and explore other episodes of "Jill on Money." Subscribe to the "Money Watch" podcast for additional financial insights.

Transcript

[Jill Schlesinger]

For decades, real estate has been a cornerstone of the world's largest portfolios. But it's also historically been complex, time consuming and expensive. But imagine if real estate investing was suddenly easyall the benefits of owning real tangible assets without all the complexity and expense. That's the power of the Fundrise Flagship Real estate fund. Now you can invest in a $1.1 billion portfolio of real estate starting with as little as$10.4700 single family rental homes spread across the booming Sun Belt, 3.3 million square feet of highly sought after industrial facilities. Thanks to the e commerce wave, the Flagship fund is one of the largest of its kind, well diversified and managed by a team of professionals. And now it's available to you. Visit fundrise.com jillonmoney to explore the fund's full portfolio, check out historical returns and start investing in just minutes. Carefully consider the investment objectives, risks, charges and expenses of the fundrise flagship fund before investing. This and other information can be found in the Fund's [e-mail] flagship this is a paid advertisement. Robert Half research indicates nine out of 10 hiring managers are having difficulty hiring. If you have open roles, chances are.

[Mark]

You'Re feeling this too.

[Jill Schlesinger]

That's why you need Robert Half. Their specialized recruiting professionals engage their skills with their award winning AI to connect businesses of all sizes with highly skilled talent in finance and accounting, technology, marketing and creative, legal and administrative and customer support. At Robert Half they know talent. Visit roberthal.com today.

[Mark]

Welcome to the Jill on Money Show. This is the program that attempts to help you make better or at least less bad financial decisions. If there's something going on in your life that at all touches your money, we encourage you to get in touch with us. Go to jillonmoney.com, click the contact Us button and of course, if you write us a note, that's great. We do our emails with the with those notes, but give us a lot of the background. I know I complain. I'm like, oh, it's so long. But without the background it's very hard to understand how we can help you out. Now if you want to skip all that writing, all you have to do is check the box and say you want to join us live on the air. And then Mark does everything else, which is so great. Hey, couple of things to note. We have a second podcast. It is called Money Watch and the cool thing is that Money Watch, the podcast is now being distributed by our friends here at Odyssey where we distribute this podcast. So now if you would like if you'd like a little bit more of Jill and Mark, specifically, we're going to drop the episodes of Money Watch on Saturdays and Sundays, which is so much fun because some of you really miss having seven days a week of us. You must subscribe to the Money Watch podcast on this feed, wherever you get your podcasts or at Odyssey. And just know that what we're trying to do with the Money Watch pod is to do a little, I don't know, like a little bit more of the back to basics. We are going to try to focus on some of the foundational financial concepts that come up coming to you Saturdays and Sundays. We are focusing on everything from how to build and maintain credit or how to buy a house. And we're going to do some investment boot camps. We're going to do some financial wellness checks. We're going to do a lot of good stuff. So get in touch with us and make sure that you subscribe to the Money Watch podcast again wherever you get your podcast. Okay, little enough of that business for now. Today we have an exciting, exciting guest. We have Tim, who joins us from none other than the south of France. Tim, you are a first caller, I think, from the south of France. So bonjour. How are you?

[Tim]

Bonjour.

[Mark]

How did you get to the south of France? Don't say you flew, but how is it you find yourself living there?

[Tim]

So I've always wanted to live here. My mother was French before she became American. I grew up in the US But I spent all my summers in France with my grandparents, and it just felt like the place for me. And I didn't know how I was going to do it, but it's just always been a dream to live here. And a few years ago, I kind of abruptly ended my employment voluntarily, but I felt kind of managed out of the company I was in. And I kind of looked at the numbers and I was like, you know what? I think we can afford to live there. And so we just moved back.

[Mark]

Who's the we in this?

[Tim]

Oh, my wife, Judy.

[Mark]

Tim, how old are you guys?

[Tim]

I am 60 or about to be in April, and Judy is about to be 6:55 in April.

[Mark]

Okay. And do you guys have kids?

[Tim]

No.

[Mark]

No kids. And are you both working from France?

[Tim]

Neither of us are working. I retired at 58, as I said, kind of earlier than I expected. My wife retired many years earlier just because she didn't like working anymore. And I owned my own home, so it wasn't really. There weren't a lot of expenses. So it just made sense for her to not work if she didn't want to.

[Mark]

That's so great. So what is the source of your income right now?

[Tim]

So I had a deferred compensation plan and that I didn't have any choice. It just started paying out when I quit. And that's, that's going to dwindle down because it was. Some of it was payout at three years, some was over a five year schedule, someone's over a ten year schedule. But for the next eight years or so we still have about 60 dwindling down to 40 grand a year from that we have a.

[Mark]

Hold on, wait, just. Can I just stop you one second?

[Tim]

Yeah.

[Mark]

So in eight years when it drink, will it exhaust at 40 grand in eight years? So after that, so it goes from 60 to 40 and in eight years when you're 68 years old, then there will be no more money from the deferred comp. Yeah, okay.

[Tim]

Yeah. And that's, that's just because it's my own money being paid back to me. It's not annuities or anything.

[Mark]

I got it. Okay. What else do we have? So that, so that, that 60 to 40. Got it.

[Tim]

Right now there is about 110,000 bucks coming in from just bank accounts. Like cash, like interest, like CDs and like high yield check, high yield savings.

[Mark]

And all of these accounts are kept in the U.S. right?

[Tim]

Yeah.

[Mark]

Okay.

[Tim]

Everything. I'm going to say there's one small carve out. I have about a hundred some thousand euros in euros in a French bank. But I haven't really committed to bringing over too much cash. That's one of my real risk factor is just exchange rates because those go up and down. Right. They're pretty favorable right now. So I'll probably bring over some. But anyway that, that's something I'm pretty comfortable managing.

[Mark]

Are you saying. I just want to make sure I understand this. So you are telling us that you are have $110,000 in interest coming from bank accounts. What is the actual amount of money in those bank accounts?

[Tim]

That's. I'm only counting interest. I'm not counting stuff that's inside an IRA or whatever.

[Mark]

Yes, I got you.

[Tim]

I could spend this taxable accounts inside and outside of my brokerage. But just looking at kind of cash accounts, we have about 1.9 million cash in a brokerage and then about 1.8 million in just banks.

[Mark]

Okay, I got it. I see how this is working so well for you. Okay, so bank accounts, taxable brokerage you know, a silly amount of money over, you know, 3 million bucks. 3.7 million.

[Tim]

Yeah. That's like five lifetimes for me. I'm just not a spender.

[Mark]

Okay. All right, so in. So, but that taxable account, is. Is that also investments or that's just like the money market? Cash equivalent part of it, yeah.

[Tim]

That's just pretty much money market.

[Mark]

Okay, so what else do you have that's outstanding in terms of investments in that tax. So of that taxable account, if 1.9 is cash, what's in the investment side.

[Tim]

Out of that money? Only about 100 grand is in, like, BTI. Okay. Okay. Pretty much it's cash. All of my real investments are in the IRA or the Roth IRA.

[Mark]

Okay, so let's say I. In the traditional IRA, how much is in there?

[Tim]

2 million. 2.2 million.

[Mark]

Okay. And the Roth IRA.

[Tim]

Roth is 1.3 million.

[Mark]

And Mark's laughing in the background. And, and you. Did you guys keep your house or sell your house when you move, did you sell and buy?

[Tim]

Sold and then bought for almost the equivalent amount. I. It was kismet because the exchange rate was actually 1.€04 for every dollar it went past parity. So it was like the universe told me to buy this apartment. So we have an apartment that I paid €600,000 for, which is about what I sold my old apartment in the US For. So it was like basically just a transfer.

[Mark]

So, I mean, you have a lot of money coming in. What is the. I mean, you say you don't really spend money. It sounds like that you've piled up money, money, money here, tons of money. What do you guess you spend on an annual basis living in France right now?

[Tim]

Okay. So I, I looked at this, and we spend. That's another thing about. I would encourage all your listeners to move to France because it's not very. Don't work here, but don't work here.

[Mark]

Just live here. Okay. Okay.

[Tim]

Taxes are very favorable for expats. My. All in expenses for our household. Not discretionary spending, but just, you know, electric and.

[Mark]

Yeah, the basics. You're not.

[Tim]

Yeah, homeowners, all that stuff. Eleven, let's say 1200amonth.

[Mark]

Okay. And then what's your discretionary? Twice that.

[Tim]

So we went back and looked at what we've actually spent over a year, and that is an additional 1100amonth.

[Mark]

Get out.

[Tim]

So we're spending. I just call it 2,500 bucks a month. Now, we don't spend a lot. We don't go out to dinner My.

[Mark]

Biggest south of France. Don't you want to go out to dinner? Don't you want to go on someone's yacht in the summer?

[Tim]

That's why I'm calling. I need your permission.

[Mark]

Yes, you have permission. Please. I mean, it's amazing to me because even just so, you're essentially living on. The money from the deferred comp right now covers your. Everything you're spending. I mean, it may not in the Future because you're $2,500 a month. We'll have to add inflation and the money will go down. But essentially, even if in. In eight years, okay, you've exhausted that, you're not really even spending that interest that is being generated from the bank account and the taxable cash account, right?

[Tim]

Yeah. Yeah. Who's gonna.

[Mark]

And then who's gonna get all this money? Yeah.

[Tim]

Nobody.

[Mark]

Oh, my God. Then spend it. What do you think?

[Tim]

Careful, it's gonna go to France or somebody, right?

[Mark]

You gotta. You gotta have some fun here.

[Tim]

I mean, I'm not planning to die, so.

[Mark]

I understand. We know none of us plan to die, but all of us will die. Mark, that's a great quote. I mean, really, this doesn't even include Social Security, right? You will. You will both be entitled to Social Security, right?

[Tim]

Yeah. My. My wife and I both have pensions. Mine's tiny. It's like, you know, 800amonth or something, but. And she has one that's 1,400. They both kick in when we're 65 and we're five years apart. So jump to 2035 when we're getting no more deferred comp payout, but when we're all fully in our pension, then we should be getting six. Well, I put in about 100 grand of interest, but I calculated we'd be making about 16, maybe 17,000amonth.

[Mark]

I mean, I can't. I don't even know what to do with myself. I mean, at this point, you know, you can spend more. So what is it that's holding you back?

[Tim]

I think what I'm afraid is that if I start spending, I'm going to go out and buy a Ferrari or something.

[Mark]

Are you really? I kind of. I mean, Tim, it does not seem like a guy who's a. I mean, you could even if you did. Yeah, I know. You go, so go by go, go blow 300 grand on a Ferrari and go crazy. Like, is there something that you would like to do that you are not doing right now, besides the Ferrari?

[Tim]

We could probably travel more the whole Point of being in Europe is that, you know, every European country is an hour away by a plane or a train.

[Mark]

Right.

[Tim]

So probably, you know, go. And like, I've. I've always been. I. I was purposefully homeless for a while because I just didn't like spending money on rent. And now I'm at an age where I should reward myself and pay $200 a night for a real hotel. Yeah, I guess that's what we're thinking of doing.

[Mark]

Okay, so what I would do is this. I would say, first of all, I feel like you're sort of weirdly underinvested in your taxable account, but it doesn't matter.

[Tim]

That's true.

[Mark]

There's literally nothing that can harm you right now. I think what I would try to do is to encourage you to try to travel and do a little more spending. What I think this calls for is like a little mental gymnastics or, you know, sometimes they say mental accounting, which is like a downside thing in behavioral finance. It's like you sort of jump around your brain and try to move one thing to go to something else, but it's really no difference. You know, you can do this. But I think we are going to have to segregate some of the money. So what I probably would do is maybe from your bank account is all the interest that I think you should just be happy to spend some amount of money and put it into a separate travel budget. And yeah, I'm going to say this may sound crazy, but I would probably. Because start small. But like, I put two grand a month and say that's your travel budget for the year and see if you can force yourself to spend it. Like, can you do that?

[Tim]

I mean, yeah, I'm a bucketed kind of thinker, so I was actually thinking of doing that, like, just open.

[Jill Schlesinger]

Yeah.

[Tim]

Maybe at my brokerage, a separate.

[Mark]

Exactly.

[Tim]

Account and say this was already accounted for. This is fun money. Just spend it.

[Mark]

Exactly. And. And if you want, you can just say, you know, from some money market account. Like, I don't know what the money market is generating right now. It's probably three and change per se.

[Tim]

Yeah, it's a premier thing. So it's like four or something.

[Mark]

Okay. So, you know, maybe if you want. Maybe what you do is you say, okay, well, let's put some amount of money in there. Two grand a month, three grand a month, I don't care. Whatever you could think you can really spend and put it in that account and then say to your wife, look, we don't spend any money. But why did we come do this if we're not going to travel?

[Tim]

Yeah.

[Mark]

So we're going to do the river cruise on this thing we're going to do. We're going to go rent a car and we live, you know, basically it's like you live in New York and you're going to drive to Connecticut. So we're going to go rent a Ferrari and drive in Italy. We're going to go do like fun experiential adventures because there's no reason for us not to. So I think that that's one big thing. Do you guys have your estate documents done?

[Tim]

No, because I had started to do a living will and revocable trust and all that stuff. And that's, that's really terrible. In France, they, there's, you have to pay something like 60% on assets in a trust. Like it's, they're very antitrust over here. So I, I was waiting to be a little more settled here and then talk to a French lawyer about the right way to set that up.

[Mark]

But right now you're a U.S. citizen.

[Tim]

No, I'm U.S. and French.

[Mark]

You have two. You have dual passports because you had. I do.

[Tim]

My wife doesn't. But we're both technically tax resident in France and so.

[Mark]

So if you die there, there is a big estate tax liability is what you're talking about.

[Tim]

Yeah, they, they take at least 60%, which I'm fine with. Hold on, I don't.

[Mark]

You're, you're. I love that you're fine with it. Are you guys philanthropic at all to give money away?

[Tim]

No.

[Mark]

Okay.

[Tim]

To be honest, I. My philanthropical aspirations are post death. I don't mind leaving money to a great charity, but I kind of, I don't even spend it on myself. I'm not going to spend it on someone else while I'm alive.

[Mark]

Okay, fair enough. Nieces, nephews that you have to help out or anything like that, or want to really. Okay. So, yeah.

[Tim]

Friends, children. Okay.

[Mark]

I love that. I love being like a Brewster's Millions to someone who doesn't actually expect it. So I think one thing to consider is that when you meet with this French estate attorney, because it sounds like it's kind of sticking now. You bought property there and everything. I think what you really want to make sure is that you have the right kind of vehicles in place so that again, even though you don't have no problem with the French government taking 60%, I do. So I'd like to avoid that. And maybe there is a way to set something up for a future, you know, a friend's kid, a charity upon your, you know, upon your demise, whatever. And you know, at least get those documents in place. Otherwise I do think that I guess I don't know how French estate law works. Is the tax levied at the first and second death or just at the second death of a couple?

[Tim]

I think for married couple it's second.

[Mark]

So yeah, you just don't want to saddle your spouse who's younger and you know, probably has a. More likely to outlive you with that responsibility. So I would get going on that.

[Tim]

Yeah, I'll do that.

[Mark]

In the meantime, Gosh, I don't know. Like I'm. I'm so happy to come visit and help you spend money. I would easily spend $2,000 a month on travel. Not even. Well, I think what your question, what.

[Tim]

I'm going to start doing is maybe I will treat myself to a Diet Coke when we do go out. Because Diet Cokes here, like a can of Coke is like four, four bucks at a restaurant.

[Mark]

That's where you're going to draw the line. A can of Coke.

[Tim]

Okay, so that gives me some license to do that.

[Mark]

I'm going to give you license to do a lot more than that. I think you got to spend some money on a therapist. Yeah, exactly. Good idea. Mark. You know what I'm going to suggest to you? Do you want to go spend a lot of money, go to La Mesardier in the middle of the summer and go have dinner up there and overlook the beautiful Mediterranean and blow some money and get used to spending some money? It's not that hard. I'll get you used to it very quickly.

[Tim]

I'm thinking about moving all that cash into a tax free money market account because I'm taxed in France on not really taxed, but it's complicated. But there's a incentive to reduce my earnings on record.

[Mark]

Okay.

[Tim]

So I'd rather earn less but pay less tax.

[Mark]

Okay, fine, go for it.

[Tim]

Any risk with putting like $1 million in a single money market account in.

[Mark]

Money market mutual fund? I mean, I guess if you're. Are you with a very large financial institution. Okay, then no. Then that's not a problem.

[Tim]

Okay. And then I'm also thinking of buying the Schwab to get qualified dividend income instead of ordinary income.

[Mark]

It's better. Better tax treatment. Fine.

[Tim]

Okay. And I'm thinking of skipping enrolling in Medicare part B. I don't have any intent to move back. I know. I'M risking a penalty if I do move back to the US But I don't think that's going to happen. So I was just going to deny part B coverage.

[Mark]

Especially because you have health care in France, then.

[Tim]

Yeah.

[Mark]

Probably doesn't make a huge amount.

[Tim]

Right.

[Mark]

So change, obviously, between now and then. But. And by the way, if. If for some reason, let's say. Okay, let's just say, how do we think about this? Let's say you have some horrible rare disease. Pooh, pooh, pooh. I hope that doesn't happen. Okay. And you have to get treated in the United States for that, and you have to pay for it. That's your downside. That's it.

[Tim]

Well, in France, chronic disease, like cancer, diabetes, covered at 100%.

[Mark]

So sounds like good coverage to me.

[Tim]

It's not bad.

[Mark]

Au revoir, Tim. Have a one abiento. See you soon. Get our guest room ready and go spend some money for goodness.

[Tim]

It's waiting for you.

[Mark]

I love spend money.

[Tim]

If you come visit me.

[Mark]

Oh, happy to have you spend money with us. Mark and I are very good at spending money when we travel, so don't worry. Hey, listen, good luck and give us a holler back and keep us posted. I love. Your pictures are beautiful.

[Tim]

I appreciate it. Thank you for the help.

[Mark]

All right. Hey. I know this is a crazy situation. Millions of dollars, living in France, living the life. But you know what's so weird about it? It does strike me that so many of you have a hard time figuring out how to enjoy the fruits of all of your labor. So Tim's sort of halfway there. He made the move. It's awesome. Now let us help you have some permission to do the dreaming that you've done and actually make it a reality. So if you need some assistance, if you're just really kind of freaked out about this idea that, gosh, I used to make money and save money, it's really hard to spend money. Get in touch with us. We are very good at walking you through the ways to get you to the place you want to get to. And it doesn't have to be huge. And we can, you know, kind of bucket out an account that can help you out, and we can maybe prove to you in a way that makes sense that you are in great shape. So if that's you and you feel kind of freaked out by the idea of spending, especially when you are retired or you've left your job, get in touch with us. Go to jillonmoney.com, click the contact us button. Let us know if you want to come on the air with us by checking the box. And by the way, don't forget you can subscribe to this show on the Odyssey app. And you can also subscribe to our sister broadcast called Money Watch on the Odyssey app or wherever you find your favorite podcast. Do something nice for someone else today. Change your work. Change your wealth. Change your life. Change. Thank you for listening and we'll talk to you tomorrow.

[Jill Schlesinger]

For decades, real estate has been a cornerstone of the world's largest portfolios. But it's also historically been complex, time consuming and expensive. But imagine if real estate investing was suddenly easy. All the benefits of owning real, tangible assets without all the complexity and expense. That's the power of the Fundrise Flagship Real Estate Fund. Now you can invest in a $1.1 billion portfolio of real estate starting with as little as $10 4700 single family rental homes spread across the booming Sun Belt, 3.3 million square feet of highly sought after industrial facilities. Thanks to the E Commerce wave, the Flagship Fund is one of the largest of its kind, well diversified and managed by a team of professionals, and now it's available to you. Visit fundrise.com jillonmoney to explore the fund's full portfolio. Check out historical returns and start Invest just minutes. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's [e-mail] Flagship this is a paid advertisement. Hi, this is Jill Schlesinger. I used to own a small business and now I talk to a lot of business owners like you who know that having the right partners in place can help you take your business to the next level. Partners like American Express that give you access to world class business and travel benefits so you can get more for your business wherever it takes you. With the Amex Business Platinum Card, you can earn one and a half times membership rewards points on select business purchases. And you can get complimentary access to more than 1400 airport lounges worldwide, including the Centurion Lounge, so you can keep running your business while you're on the go. See how the Amex Business Platinum Card gives business owners like you the tools and rewards that can help move your business forward. Terms and points cap Apply. Learn more at americanexpress.com amexbusiness.