Struggling to Even Think of Retirement

Summary

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Jill on Money: "Struggling to Even Think of Retirement"

Date: March 25, 2026
Host: Jill Schlesinger, CFP® with producer Mark
Guest Caller: Kat, from the southern United States

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Episode Overview

This episode centers on the anxieties and practical dilemmas faced by a middle-aged working family struggling to imagine a comfortable retirement, despite having assets and good intentions. Listener Kat calls in to get straight answers about her family's future prospects, expressing both stress and confusion about whether they're on track for retirement at age 70—and whether their assets are being managed wisely.

Jill and Mark walk Kat through a candid, methodical review of her financial picture, pausing for tough-love advice and empathetic reassurance. The conversation covers topics like cash flow, real estate decisions, retirement contributions, and why college savings shouldn’t come before securing the parents’ own future. The episode is highly relatable for listeners juggling debts, uncertain plans, and reluctance to let go of assets that aren’t working hard enough.

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Key Discussion Points & Insights

1. Introducing Kat’s Situation (03:17–04:54)

• Kat is 44, her husband is 50, they both work full time and have 10-year-old fraternal twins.
• Household take-home pay: about $120,000.
• Both have just recently started contributing to employer retirement plans.

2. The Reality Check — Feeling Strapped (04:54–05:41)

• Despite a reasonable income, Kat describes their finances as "paycheck to paycheck" and "strapped."
• College funding is important to them but not yet financially set aside.

Notable quote:

Kat (03:29): "I sent in a rather panicked email because I feel like, you know, we're middle aged and we're stressed and we don't know if we have enough or even will be on the road to retirement at 70...whether it's yes or no, I just, I feel like I need to know."

3. Breaking Down Assets and Debts (05:41–09:48)

Primary Residence

• Value: ~$410,000
• Mortgage remaining: $79,000 at 3.5%, 4.5 years left
• They love this house

Rental Property (Out-of-State)

• Value: ~$465,000
• Mortgage: $298,000 at 2.875%
• Property is a headache to manage, and currently loses a couple thousand dollars a year
• Required to use a property management firm due to not living nearby

Retirement & Savings

• Kat: $111,000 in tax-deferred account
• Husband: $45,000 in traditional, just started
• No emergency savings (drained for home renovations)
• Additional debt: $11,000 (mostly credit card and personal loan)
• Life insurance: $600,000 (husband), $850,000 (Kat), both term
• No college savings started

4. Rental Property Dilemma (07:34–11:34)

• Jill and Mark dig into why Kat’s family keeps a rental property that consistently produces losses.
• The plan: it's meant to become their retirement home after the kids are in college.
• Jill highlights the emotional and financial tension: would selling ease stress (and why hang on to the low-rate mortgage if it’s a burden?)

Notable exchange:

Mark (07:34): "Why, why are we keeping this? Let's get rid of it."

Kat (07:37): "...This is a home we plan to move into when our boys go off to college."

• Kat is also worried about potentially needing to take on a much larger mortgage if they sold and re-entered the market later at higher interest rates.

5. The Hidden Asset: Primary Home with Rental Potential (13:05–15:51)

• Their current home is a fourplex: 1 apartment rented ($1,250/mo), two more need renovation.
• Cost to renovate both: ~$50,000.
• Jill suggests unlocking more rental income to improve cash flow and overall retirement security.

Notable suggestion:

Jill (15:04): "How would you feel if I took a $25,000 loan from Kat's retirement account to get the work done so I can get some cash flow? ...I think that this may be a chance for you to kind of get out from under."

• Mark (15:08): "I would probably do it."

Risk factors outlined (16:01)

• If you lose your job, a 401(k) loan must be rapidly repaid or it becomes a taxable distribution (with penalty).
• The move is only suggested if Kat feels highly secure in her employment.

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6. Making a Plan (17:01–23:10)

• Immediate Priorities:
  • Use a potential loan to pay off high-interest debt, renovate one apartment for added rental income, and keep a little extra as emergency savings.
  • Once additional rental income flows in, avoid lifestyle inflation and direct surplus to catch up on retirement savings for both spouses.
  • Delay college savings until their household is more stable and retirement is on track.

Notable guidance:

Jill (18:18): "...About the kids in college, you really don't need to worry about that right now. We got to get this. We gotta get you guys in a place where you feel like you're not living paycheck to paycheck."

• Long-term:
  • When the primary home’s mortgage is paid off (~4.5 years), funnel mortgage savings and new rental inflows straight into retirement accounts.
  • When the kids leave home, sell the current house to fund retirement, then move to the out-of-state property (if still wanted).

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7. On Education Savings – Tough Love (21:11–23:10)

• Jill insists they must "put yourselves first"—college savings are not practical now.
• Kat and her husband will need to have candid talks with their kids about bright-line college boundaries (public school, scholarships).

Notable quote:

Jill (22:15): "You're going to make sure that we have your retirement plans funded. That is the most important thing for you guys. And then... if they go to school, you are going to be pushing them like heck to say like, either get a scholarship or you're going to public school because we cannot afford it."

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8. Big Picture and Reassurance (23:10–26:05)

• Kat’s family is not as off-track as her anxieties suggest: they have time, multiple assets, and a clear path if they focus.
• Jill and Mark stress the uniqueness of every caller; advice is always personalized.

Notable exchange:

Kat (25:13): "Because I think my biggest concern or our biggest concern was retirement at 70..."

Mark (25:25): "70 is like, you're so young... You're going to keep working, keep saving. You got two pieces of real estate. You're going to get some rental income going. I don't think 70 is a... You're going to have Social Security down the line. I think they're going to be good."

Kat (26:01): "I am feeling okay. Actually, I feel pretty good."

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Notable Quotes & Moments (with Timestamps)

• "I feel like, you know, we're middle aged and we're stressed and we don't know if we have enough...I feel like I need to know." – Kat (03:29)
• "Why are we keeping this? Let's get rid of it." – Mark, regarding the out-of-state rental (07:34)
• "Having this money and doing the work is very important. Like, fourteen hundred dollars a month could be a very big deal for you." – Jill (17:01)
• "You're going to make sure that, that we have your retirement plans funded. That is the most important thing for you guys." – Jill (22:15)
• "You're going to keep working, keep saving. You got two pieces of real estate. You're going to get some rental income going. I don't think 70 is a—You're going to have Social Security down the line. I think they're going to be good." – Mark (25:40)
• "I am feeling okay. Actually, I feel pretty good." – Kat (26:01)

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Important Segments & Timestamps

• Listener call begins / Kat’s anxiety: 03:17
• Full financial snapshot: 05:41–10:03
• Discussion of real estate/rental woes: 07:02–11:34
• Plan to unlock rental income with a retirement loan: 15:04–17:01
• Detailed strategy for moving forward: 17:01–23:10
• Minimum viable college funding, prioritizing parents: 21:11–23:10
• Final reassurance and wrap-up: 25:13–26:05

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Tone and Closing

Jill and Mark maintain their signature warmth, mix of empathy and candor, and plain-English advice throughout the call. Even potentially risky strategies (like borrowing from a retirement account) are discussed with a sober, facts-driven approach, always keeping Kat’s emotional well-being and family priorities in the foreground.

Listeners in similar situations will find reassurance—and homework—in these themes:

• Face your numbers
• Prioritize your own financial security before college savings
• Don't let low-yield/high-stress assets weigh down your future
• Small, tactical moves to unlock income can change your trajectory—with careful risk management

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Bottom Line:
Even families who "feel behind" or who are cash-strapped have options. With focus, targeted asset management, and realistic goals, retirement—even at 70—is not out of reach. As Jill says, "We are here for you...We really have no way of applying what we do for anyone else to you, so...come on the air with us. Let's walk through it." (26:05)

Transcript

[Jill]

You know, when Mark and I first started this podcast, we had no idea how many hats we would be wearing. Host, Producer, Editor, Social Media Manager. It was exciting, but also intimidating.

[Mark]

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[Jill]

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[Jennifer]

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[Kat]

They accept Discover at Renaissance Fairs?

[Jennifer]

Yeah, they do here. Discover is accepted at the places I love to shop. Geth with the times.

[Kat]

With the times.

[Susie Welch]

You're playing the loot.

[Jennifer]

Yeah. And it sounds pretty good, right?

[Jill]

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[Mark]

Welcome to the Jill on Money show. It's Wednesday, March 25th and we are here talking about your financial journey. Wherever you are along that journey, Mark and I are here to help. We're both certified financial planners. We don't do that full time for a living. We do this full time. We're media people. But we love talking to you and we love using that certification, that certified financial planner designation as a way to talk to you about your money where you don't feel anxious about it. Where we don't use a lot of jargon, there's no judgment. We just want to help you get wherever you would like to go. So if that's the case, if you're sort of somewhere on that journey and you need some assistance, we'd love to hear from you. Go to our website, jillonmoney.com click the contact us button. Write us a note. Let us know if you want to join us on the program by checking the box and Mark will get you on the air live. While you're on the website, you will see there's a free weekly newsletter when you subscribe to that for free. You will also get our blog so you'll get a couple of communications from us every week. And if you want more, all of our content lives on the website. We have another podcast, we've got a radio show. There are videos, resources, all that sort of stuff. And if you want to go back, way back into the archives, we have a lot of stuff that's there. So check that out. Okay. Today we are joined by Kat, who is somewhere in the southern part of the United States of America. Kat, welcome to the program. What can we do for you?

[Kat]

Hi, Jill. Hi, Mark. How are you?

[Mark]

She's so cute, Mark. She's so excited to talk to us and we're like, hello, anyone that also

says hi to me, I love.

So I always say hi to you. Okay, Kat, what's up? What do we got for you?

[Kat]

Well, I sent in a rather panicked email because I feel like, you know, we're middle aged and we're stressed and we don't know if we have enough or even will be on the road to retirement at 70. I just, I want to check and I just. Whether it's yes or no, I just, I feel like I need to know.

[Mark]

All right, we can rip this band aid off with you, so do not worry. So let's start with something very easy. Kat, how old are you?

[Kat]

44.

[Mark]

And you said a we. So how old is spouse?

[Kat]

Husband is 50.

[Mark]

Okay, are you guys both working full time?

[Kat]

We are, yes.

[Mark]

Okay, do you have kids?

[Kat]

We do. We have two.

[Mark]

Okay, how old are the kids?

[Kat]

10.

[Mark]

Oh, you have twins?

[Kat]

Yes.

[Mark]

Oh, God. God bless you. Are they identical or fraternal?

[Kat]

Fraternal.

[Mark]

Okay, fake. You know, I'm married to an identical twin, so she calls fraternal twins siblings that are born at the same time. She doesn't consider them twins.

[Kat]

No, they aren't. They're so different. She's right.

[Mark]

So interesting. Okay, so kids in public school right now?

[Kat]

They are, yes.

[Mark]

Okay, great. Is college funding something that is important to you guys?

[Kat]

It is. It's not really something we've invested in, but it definitely is.

[Mark]

Okay, so let's go back to you. Tell us how much you guys earn.

[Kat]

Take home Pay is about 120.

[Mark]

Okay. Are you both contributing to retirement plans?

[Kat]

We are spouse. Just recently myself, I contribute 10% of my own income. Employer match at 3%. And the spouse now contributes 2% of his income. Because if you do that where he works, it triggers a 10% employer match.

[Mark]

Oh, my goodness. That's incredible. That's great. Okay, how are you guys absorbing the contributions and living your lives? Like, do you feel okay on your 120 or do you feel strapped?

[Kat]

We feel strapped. It's paycheck to paycheck for sure.

[Mark]

Okay, so let's talk about that for a second. So right now you guys own a home?

[Kat]

We own a home. We own two homes.

[Mark]

Oh, well, that's one more than you need. So tell us, tell us about the one you're living in. Your primary residence.

[Kat]

Our primary residence. It is roughly worth 410. We have four and a half years left on it.

[Mark]

Four and a half years left on the mortgage. You're so young.

[Kat]

I know. Well, we refinanced when rates dropped initially. Yeah, around 10 years ago. And it was cheaper for us to actually refinance into a 15 year loan.

[Mark]

30. How much is remains on that mortgage?

[Kat]

79,000.

[Mark]

And what's the interest rate on that?

[Kat]

3.5.

[Mark]

Okay. And no extra payments, but it's going to be done now. Okay. Do you like this house? You want to stay in it?

[Kat]

We love it.

[Mark]

Okay, great. What is about. What about the second home? What do we. Is this a second home or is this a rental property?

[Kat]

It's a rental property.

[Mark]

What's it worth?

[Kat]

It's worth 465.

[Mark]

Oh, okay, fancy. And is there a mortgage on it?

[Kat]

There is, yes.

[Mark]

How much is remaining?

[Kat]

298.

[Mark]

What's the interest rate?

[Kat]

2.875.

[Mark]

Wow. Is it a pain in the neck to operate as a rental property or is it easy?

[Kat]

It is. It's a pain in the neck to operate as a rental property. It is. It's not in our state and it's in a state where you're mandated to have a property management company manage it. If you live with. If you don't live within 60 miles of the property.

[Mark]

God, what a drag. Okay, it is a drag. So what is it creating income wise for you guys?

[Kat]

It's not creating any income. At the end of the year we lose a couple of thousand dollars on it.

[Mark]

Why, why are we keeping this? Let's get rid of it.

[Kat]

But well done is it's the home. Even though I just said we love our home, this is a home we plan to move into when our boys go off to college.

[Mark]

When you would sell your current place or.

Yeah, yeah, you would, you would have to sell one of these. This is where I can already tell what the problem is that you.

[Kat]

We would sell the one that we.

[Mark]

Okay, so we have, so we have a 10 year time horizon basically. Right. 10 years from now kids are whatever, they're in college. Right. And you will have this asset this, you know, 400 and something, thousand dollar today asset that you will own and you'll be able to sell that, and that will actually help you out very much. How much money do you guys have in your retirement? I know your husband just started. So what's the amount of money in your retirement account right now, Katie?

[Kat]

111. Okay. All in the tax deferred.

[Mark]

Okay. And what about your husband? He just started. How much?

[Kat]

He just started. He has 45,000 in there.

[Mark]

Oh, that's pretty good for just started. And is that traditional or Roth?

[Kat]

It's all traditional. It's a 401B.

[Mark]

Okay. And what about just safe assets on the sidelines? You got a cash account like an emergency reserve?

[Kat]

We do, but we drained it, unfortunately, about a year ago. We had to have some renovations done to our house and we ended up. We were not in a position to. We didn't qualify for a HELOC because of some things going on with our home. And so we had to use our own funds to do it. So we did.

[Mark]

Okay, so you, that's basically you're rebuilding that? Hopefully, yes. Any other debt that's outstanding besides these two mortgages?

[Kat]

Yes, we do. So having to use our own funds to renovate the home, we did go into additional debt of about 11,000.

[Mark]

Okay. Credit card stuff?

[Kat]

Credit card and personal loan.

[Mark]

Okay. You know, kids are in public school. You have not put money aside yet for college, right?

[Kat]

No.

[Mark]

Okay. Look at her. She's like, are you crazy? Jill, stop. Okay, so is there anything else that we need to know about in terms of either money you owe or money you have?

[Kat]

No.

[Mark]

Okay, how about life insurance? Do you have some for both of you?

[Kat]

Oh, we do have life insurance, yes. Do you know how much for the spouse it is? Roughly 600,000. For myself it is 850.

[Mark]

And that's term life insurance, right?

[Kat]

Term life insurance.

[Mark]

Perfect. Do you have your estate documents done? I don't see Mark, did she. I like that she at least knows that she's about to get roasted on that one. Do either of you perhaps have a employee, employer, legal service benefit that. It's something that many, a lot of organizations have introduced it. Like you can use pre tax dollars to go to a lawyer, check see if you have that. If you don't, do you have any friends who are lawyers who you could, you know, tap on the shoulder and be like, hey, can you just like whip up a will for me quick?

[Kat]

I do.

[Mark]

All right, let's do that. Let's, let's Leverage our relationships. Something I like to do also. All right, so let me ask you, this is like, I know that you've. What you've just said. I heard what you said. You want to keep this rental property because in the future you think you would be there. But what if I told you that not having that on your balance sheet would make you feel a lot better?

[Kat]

I know that it would make me feel a lot better. I would have to convince the hubby. Yeah.

[Mark]

Is it possible if you sold that property that is out of state, would it be possible that you. Are you concerned, like, I'll never get a 2.875% loan and that's why I don't want to give it up. Like, tell me a little bit more about like kind of what you're thinking.

[Kat]

I guess what I'm. What I'm concerned about is that we'll be re. Entering the market.

[Mark]

Yeah.

[Kat]

And have a 30 year mortgage when we're so much older.

[Mark]

Right, right. I get it. I mean, I'm sort of tantalized by the 2.875. But is it essentially that you're. I mean, I know it's a pain in the neck and it probably shows a small loss on your taxes and all that, but is it losing money because you just can't get enough rent? Or it's like, oh, it was empty for a certain period of time. Do you see a way where it will start creating some income for you?

[Kat]

I do. I'm not sure why that's not the situation currently. Yeah, I have to investigate some of that. I mean, a big part of that are the property management fees.

[Mark]

Yes, of course.

[Kat]

Then there are some, you know, maintenance things that renters, at least in our property here, the property that we live in is also we have an apartment that we rent out would take care of themselves, like changing a light bulb. Whereas this home that's being managed, they call the property management company. And then we get charged for every

[Mark]

little maintenance anytime they have to do anything.

[Kat]

Anything.

[Mark]

Did you just mention a third property when you said renters here or that. Or that's not the case. Right. We only have two properties. Right.

[Kat]

Only have two properties. The home that we live in has an apartment.

[Mark]

Oh, now tell me about that. How much rent is flowing from the, from that?

[Kat]

1250amonth.

[Mark]

That 1250amonth. Right. Now is that essentially, you know, when you add in your take home pay, your 120 plus whatever that primary, primary rental apartment, you said there's kind of no wiggle room. I'm trying to figure out, now that you've done all this work in the primary, is there a way that you could get a home equity line of credit now?

[Kat]

There isn't, because we. Part of the home still needs some work.

[Mark]

Okay. Okay. Oh, Mark, I'm at sixes and sevens right now, but with this extra work.

[Kat]

Jill, I'm sorry to interrupt. We will have additional income once we put in this extra work. There are. We live in a fourplex, and so there are two other apartments, but they are not ready for put back at the market.

[Mark]

Right. Okay. How much more do we have to spend to get the. The other two units rolling?

[Kat]

We're probably looking at around 50k.

[Mark]

Okay. Which you don't have right now.

[Kat]

Which we don't have.

[Mark]

Okay, well, what about one at a time? Let's do one at a time because we have one apartment would be how much to get one more apartment online? Do you have to do both at the same time? Because otherwise it doesn't make sense.

[Kat]

We don't have to do both at the same time. So that be. They're the same size and the same layout.

[Mark]

So 25 grand each.

[Kat]

Yeah.

[Mark]

Okay. Mark, what do you think? This is such a crazy idea on my part, but I want you to hear me out. What would you. How. How secure you in your job? You're like. You're where you are right now, Kat?

[Kat]

Oh, very. Yes.

[Mark]

Mark, how would you feel if I took a $25,000 loan from Kat's retirement account to get the work done so I can get some cash flow?

I would probably do it.

Yeah. We never actually do these kinds of things, but I think that this is going to. This may be a chance for you to kind of get out from under. Two things I want you to consider. You have $111,000 in a traditional retirement account. Okay. Right. If we took a $35,000 loan out of that account, maybe even 40, let's say 35, and immediately paid off the $11,000 in debt. Okay. And then used the rest of the money to get the apartment in shape. What kind of income could I expect from that extra apartment? Could it be another 1250amonth?

[Kat]

It'd be 1400amonth.

[Mark]

Yeah. Okay. I think I'm going to want you to do this. There's risk. Do you want to know the big risk?

[Kat]

Yes.

[Mark]

Okay. The risk is that I have screwed up and you're not as valuable to your employer as we thought, and you lose your job. And the money that we took out as a loan has to either be repaid or it's considered a distribution. And you'd have to pay tax on it. So the real issue is, if you think you're really secure, you can take this loan, you can pay off the debt, the personal loan, the credit card, whatever that is. You can do the work. And if something terrible happened, you'd pay tax on that $35,000. It would be a penalty. 35 grand for 10% penalty, early withdrawal and tax due. So it would not be pleasant. It would really be. I'd have to really feel. And you would have to feel like. You guys would have to feel like, okay, we can totally manage this because we've. I feel so confident in my job. But you have to feel really confident in your job to do that.

[Kat]

Okay. I mean, I do, actually. I do absolutely feel really confident in my job. It's not going anywhere.

[Mark]

And in terms. Okay, so then here's. Here's how this works. You take the loan, you pay down the debt immediately, because that debt is going to be. That's. I presume it's a high interest rate, right?

[Kat]

Half of it is. Half of it isn't.

[Mark]

Is it personal, like your parents or something or somebody, you know?

[Kat]

It's through a credit union.

[Mark]

Oh, okay. What's the rate on the credit union loan?

[Kat]

I want to say it's 4%.

[Mark]

All right. You don't have to pay that off. Pay off whatever the credit card is, the rest of the money, you do the renovations and keep a little extra in the emergency reserve fund. Just keep it there. Or you can take out 30 grand instead of 35. But I just think that having this money and doing the work is very important. Like fourteen hundred dollars a month could be a very big deal for you. You see how it goes, you get this done, you get the money rolling, and then maybe you do that same exact thing again. Once the loan is repaid, you're going to continue to put money in your retirement account. Now your husband is putting in with this amazing match. Are either of you entitled to a pension? I forgot to ask you that.

[Kat]

No, unfortunately.

[Mark]

No problem. Don't sweat it. About the kids in college, you really don't need to worry about that right now. We got to get this. We gotta get you guys in a place where you feel like you're not living paycheck to paycheck. I think the way that you do that is that this primary residence starts working better for you. So let's say it takes you five years to get, you know, these two apartments, and they're now, you know, together generating three grand a month. That's going to be a big difference for you in your lives. That's going to be the big difference.

I think you got to capture that money, right?

Of course. Can't spend that money, can't be like, woo, we're going on vacation. But if that all of a sudden that then what you can start to do is you can say, your husband can say, instead of 2%, I'm going to put 5% into my retirement account and you're going to say, instead of 10%, I'm going to put 15% in my. So you're. We need to capture that money once it comes in and then by the time, you know, the kids are, you know, going through college and getting. So do you think that you would eventually move to the rental property out of state in as soon as possible? Like as soon as the kids are done, or would you wait until you're really retired?

[Kat]

We're not sure actually when that would happen. And given that our primary home will be paid off in about four and a half years, you know, we're also thinking too, we tend to sock away whatever extra we have something.

[Mark]

Right. That would be again, every extra dollar that you have in, you know, from five years from now, including the savings on the mortgage and the extra money that comes in from a rental from the rental unit, would really be directed towards retirement. Okay, go. It's like all retirement all the time. So you basically said you don't think you're going to have any. Like you're never going to be able to stop working. I don't think that's the case. You have three main assets right now. You have retirement plans, your primary home, which is a big rental possibility, and you have your rental property out of state. I think considering that you guys are workers and you're putting money away, you should be able to get where you need to go. How much money do you spend right now? Like, what are your expenses?

[Kat]

Look like our expenses? This is everything. So not just our noodle. Yeah. Budget is 8,500.

[Mark]

I think you're going to be okay. Mark, do you think that Kat from the south will actually be able to ever retire?

Well, I do because she's not asking if they can retire when they're 55. You know, she's right. She's 66. You know, 65, 7 years old. We're talking about. They're going to keep saving and eventually this primary house that they're in now will be sold and that's going to be a nice chunk of money that comes their way.

Right. And I think that that's the important part of it, which is we just have to make sure you capture this money. That's when you think about like where you are in your lives. You know, you're middle age, hopefully more like 3/8 age. I think you'll live long. And you say, look, what we're going to do is we've got to make our assets work better. The, the actual physical dwellings and any money that improves our lives has to be funneled into retirement. And you know, again, if you have the, if you feel like, wow, you know, I'm making some extra money or my husband's making a little extra money, you, you are going to be tempted to put some money into a 529 plan. Do not do that. You are going to put yourselves first. You're going to make sure that, that we have your retirement plans funded. That is the most important thing for you guys. And then, you know, depending on where you live, when the kids are going to school, if they go to school, you are going to be pushing them like heck to say like, either get a scholarship or you're going to public school because we cannot afford it. Like, damn kids eat us out of house and home though. You're not going to say that, but you are going to. I think having a real conversation with them about how we are going to approach college is real, right? Just say, okay, we're prepared to help you out with public school, but we can't get. We. You can't go wherever you want. We don't. We are not live. You know, we're not the, the fancy pants who've been able to slot slosh money into a 529 plan. We just, you can't afford it. But that's okay. And it's okay because not everybody is like necessarily has to do that. I think in your situation, the money that you have is sitting in real estate. It will be released from real estate. But you're going to need that more for your own retirement than you are going to need it for your kids education. And I think that that's. Does that bum you out? I feel like you're. There's like a.

[Kat]

No, I'm just real. I'm. I guess even after all these years listening to your show, I feel like I can predict what you're going to say. And what did you say? Just shocked.

[Mark]

Yeah. What did you think I was going to say? Sell everything screwed.

We would love for that rental in another state to be gone. And then you have that money and then, you know, when you eventually want to move, you sell your primary and use that money to move. But.

But that doesn't sound like it's. It just doesn't sound like it's a possibility. So that's why I didn't go there. You know, when I listen to what you guys say, I do listen to when a, you know, a listener says, like, you know, what would happen if. And you know, if, if you're telling me that you really are not willing to sell the property out of state, then, heck, what am I going to do?

Do you guys keep an eye on this property? By the way, with all these renters coming and going, when you want to move there in 20 years, is it going to be standing?

I know, right? Do you get up? Do you, do you get to. Do you get to do that?

[Kat]

We will this year for maybe the second time. Yeah.

[Mark]

All right, listen, we are on board with like, you kind of re figuring your current residence and getting it money flowing, but, you know, yeah, given my druthers, of course I'd want you to sell the rental property, have the money in cash, do the, make your primary work better. But like, you have extenuating circumstances, listeners trust me, because we asked Kat off the air what those extenuating circumstances are. And, and you know what? I absolutely, positively understand what you're saying. Okay. So I, I don't want you to think that I. I'm not. We're not glib about these things. Okay.

[Susie Welch]

What?

[Mark]

We are. So when you said that, when you explained your situation, I'm like, yeah, yeah, yeah. Okay, that makes sense. So we want you to be able to do what you want to do. And this is the. I think this is the way to get there. And if things change or you find something else or conditions change, you get back in touch with us and we'll walk through it with you. Okay.

[Kat]

I absolutely will. So also too, what you're saying that doing all of this. We're not. Because I think my biggest concern or our biggest concern was retirement at 70. That we're not, you know, 70 is

[Mark]

a long ways away.

70 is like, you're so young.

You're younger than me, Kat. And you call yourself middle aged.

Yeah, Mark, you're middle aged.

[Kat]

Dude, Mark, you sound so young.

[Mark]

I don't. I'm 48, Kat.

He is so old and not as nearly as old as I am like his mother.

[Susie Welch]

So.

[Mark]

So you're going to keep working, keep Saving. You got two pieces of real estate. You're going to get some rental income going. I don't think 70 is a. You're going to have Social Security down the line.

I think they're going to be good.

Yeah. I think a seven. You know, if you're willing to work to 70, I don't see any problem.

Yeah, absolutely. So listen, at the end of this conversation, you feeling okay?

[Kat]

I'm feeling. I am feeling okay. Actually, I feel pretty good. Yeah.

[Mark]

All right, good. Just want you to know that, again, we're completely here for you. We are very, very aware that, you know, circumstances are, you know, when we say special circumstances and get in touch with us, we're very clear that each of you has a very different outlook. Right. And so I get it, gang. Like, some of you folks out there are listening to this and, you know, you're hearing this and it sounds crazy, and it's not like it doesn't matter. Whatever it is that is in your. In your, like, control, we want to hear from you, and then we'll try to adjust accordingly. We really have no way of applying what we do for anyone else to you. So the way that you can get that kind of information or that guidance is to just go to our website, to Jill on money dot com, click the contact us button. Write us a note if you want to come up on the show. You see, like, you might think Kat's like, oh, I know what she's going to tell me. I'm screwed. No, but come on the air with us. Let's walk through it. Let's figure out what's going on and try to help you get where you want to go. You can subscribe to us on the Odyssey app or wherever you find your favorite podcasts. Please put your hands, metaphorically, on someone's back or give someone a nice big hug. Get permission. Change your work, change your wealth, change your life. Thank you for listening. We'll talk to you tomorrow.

[Jill]

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[Susie Welch]

have you ever felt like you were living just a B or B life? It's so dangerous to live that. More dangerous than a B or a C plus life? Because when you're living a B or B life, you don't change it. You think it's good enough. Is it? I'm Susie Welch. I host a podcast called Becoming youg People Think okay, an A life is not available to me, but there is a way. We are all in the process of becoming ourselves. Listen to Becoming youg wherever you get your podcasts.