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Jill on Money Radio Show: Can I Retire at 58 and Are We Saving Too Much?

Jill Schlesinger is a certified financial planner and the host of the Jill on Money radio show. Recently, she addressed two key questions on her show – can someone retire at 58 and are we saving too much?

Retiring at 58 is possible. However, it depends on a multitude of factors, including lifestyle choices, savings, and investing habits. Jill explains that living expenses in retirement are not cheap, and therefore, it is essential to have a good retirement fund. Jill recommends having 10 to 12 times your annual income saved by the time you retire. Additionally, you need to account for inflation, potential healthcare costs, and other expenses that may arise.

To retire at 58, you need to have a solid plan in place for the decades to come. You must be mindful of your spending habits and how you want to spend your retirement years. Jill suggests that one way to make what may seem impossible a reality is by having a side hustle, such as freelance work or a small business, to supplement your income.

The second question Jill addresses on her show is whether we are saving too much. While the average personal savings rate has skyrocketed in recent years, in general, Jill does not believe that most Americans are saving too much. In fact, she says that most Americans are not saving enough for retirement.

Jill states that saving too much can be an issue if it means you are not enjoying life. While saving rigorously in your younger years is critical, it is also important to live in the present and enjoy your time, even with the knowledge that you are saving for the future.

In conclusion, Jill Schlesinger believes that retiring at 58 is possible, but it takes careful planning and execution. Additionally, while saving aggressively is important, it is important to balance that with enjoying life presently. Ultimately, everyone’s financial situation is unique, and Jill encourages her listeners to work with a financial planner to create a sound financial plan for their future.