Jill on Money with Jill Schlesinger Concerned About Running Out of Money
7 snips
Apr 6, 2026 Renee, a retired listener planning a move from California to Arizona, calls in about retirement finances and housing choices. They discuss annuity and Social Security income, weighing buy versus rent after a home sale. Conversation covers monthly cash-flow concerns, comparing costs between states, and why keeping proceeds liquid may be safer than buying right away.
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Rent First When Downsizing Late In Life
- Do move to a lower-cost state but avoid buying immediately; rent first to verify real monthly costs and lifestyle fit.
- Jill recommends keeping the ~$375k proceeds liquid for cushions rather than using it all as a home down payment.
Caller Renee's Retirement Snapshot And Home Sale
- Renee is 78, her husband 74, and they currently get $2,950 monthly from an annuity plus $4,365 from Social Security.
- Their California home has been on market eight months and they expect about $375k–$400k net from a sale.
Liquidity Trumps Ownership When Income Is Tight
- Insight: Liquidity is more valuable than owning a home when income is tight and unexpected shocks are likely.
- Jill emphasizes that keeping proceeds liquid reduces risk from HOA increases, taxes, or large repairs that homeowners face.