Jill on Money with Jill Schlesinger Struggling to Even Think of Retirement
8 snips
Mar 25, 2026 Kat, a caller juggling two mortgages and a loss-making rental, seeks clarity on retiring at 70. She discusses household income, negative cash flow from an out-of-state property, and a $50K renovation plan. The conversation covers using retirement-plan loans, repairing units to boost rent, shifting priorities toward retirement savings, and managing college funding expectations.
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Use Retirement Loan To Fix Cashflow Crunch
- Do prioritize fixing your primary residence to generate rental income and rebuild an emergency fund.
- Jill recommends using retirement loan funds to pay high-interest debt and renovate one apartment first to create ~$1,400/month cash flow.
Fund Retirement Before College Savings
- Do prioritize retirement contributions over college funding for your kids.
- Jill explicitly tells Kat to fund retirement first and push kids toward public school or scholarships if needed.
Caller Kat’s Two Home Snapshot
- Kat and her husband own a primary home worth ~$410k with $79k left and a rental worth ~$465k with ~$298k mortgage.
- The out-of-state rental currently loses money due to management fees and deferred maintenance.