How to Pay Yourself in Retirement | Jill on Money

On this episode of Jill on Money, Jill Schlesinger and Mark Talercio talk about how to overcome the psychological hurdles of spending your savings in retirement.

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[jimbojimbo]

When im older I hope I find a rich lady like Jill to fund my lifestyle

[ric-morris]

I'm 54 and my wife and I are really worried about our future. The cost of living keeps going up and our savings are running low. We're barely getting by and can't seem to catch up. I feel for people nearing retirement who are scared that 30 years of hard work will be undone by the current economic troubles.

[VegasVaron]

Key to saving, is to spend less! Earning more doesn’t help if spending is increasing to meet income.

[firstbikeisascout]

Don’t think “Die with Zero” is a literal. It’s a mindset that someone wants to live their retirement to the fullest & not worry about leaving a huge nest egg to their heirs.

[gregsmith]

At 5:50 Jill says make it (withdrawals) automatic. This is THE TOPIC I want to talk about. We know and carefully track spending. Is an annuity the only way? What are smart options for creating that stream of deposits that tracks with your spending run rate? Thanks for this video!

[rhondavigil]

We retired early using the rule of 55. Our 401k makes a monthly deposit into our bank account.
This 401k will last until we are at least 62. Then we will begin to use our IRAs and take social security.

[wildfoodietours]

Now I need to figure out how to pay myself now.

[Wooster]

The ideal scenario is you spend all of your $ by the time you die and your last check, paid to the funeral parlor, bounces.

[stevemlejnek]

For me, I pull income early in retirement from brokerage, IRA and Roth. This allows me to manage my MAGI, and get subsidized health insurance. I don't follow the "take Roth last" belief.

[Steve_SEC]

Has VMSXX ever decreased in value? I am in the highest tax bracket and looking for a relatively safe place to park my after tax cash.

[mikeflair]

Setting on monthly auto withdraw is a dumb idea. Why sell when the market is low? Sell 12 months of future living expenses on every 10% stock upward move....in this way, you can keep about 1 to 2+ years in money market cash. Sell on upsides, use your cash balance in declines is much smarter.

[rondrake]

If u can do this. If u are money smart, do this

[gainer]

The AI sector continues to charge up in Nov. AMD ..Soun .9 % month.. SoundHound... VHAI..19 % month.. Vocodia.. conversational AI. Sym .19 % mth . Symbotic.... Bbai..Big Bear AI and more. Thumbs Up video/ comments. Thanks.

[DVB]

Jill, it is your show, but you ask questions and then cut the guests off before they finish a sentence! This is off putting.

[jomargalvez]

What about teaching retirees how to make money or invest in a less risky way to preserve their nest egg with their retirement . All you need to do is match your present working income with dividend or Interest income minus taxes to live your desired lifestyle