MoneyWatch with Jill Schlesinger Am I in a Good Financial Spot at 48?
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Jan 3, 2026 A listener questions if he's in a good financial spot at age 48, especially with a pension and rental property looming. They delve into his solid budgeting, impressive Roth contributions, and stable cash flow from a rental. With zero debt and low living costs, they ponder if he should buy another property. The conversation also touches on essential estate planning, emphasizing wills and beneficiaries. Ultimately, the hosts conclude that he's in excellent financial shape, leaving him with practical action items to enhance his stability.
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Track Your Money Regularly
- Do budget and track expenses regularly to know where your money goes and confirm you’re on track.
- Jill praises Mike’s budgeting habit as a core reason he’s in excellent financial shape.
Pension + Low Spending Is Powerful
- A reliable pension plus low spending can cover most retirement needs for many public employees.
- Jill concludes Mike likely has no major problems because his pension should cover his expenses.
Prioritize Roth Contributions
- Contribute to retirement plans consistently and favor Roth if you want tax-free withdrawals later.
- Mike contributes 14% to his deferred comp (Roth) and holds all Roth retirement assets.