Share
Dollars & Sense with Michelle Singletary
The surprising mistake many retired people make
Marian is retired and enjoying the life she worked so hard to build. But as she watches her friends age and lose their independence, she can't stop wondering what her own version of that might look like — or how to pay for it.
Michelle and Marian talk through her retirement "buckets," explore the possibilities of long term care, and whether she’s really prepared for what lies ahead.
Want Michelle to answer your money question? Email dollarsandsense@washpost.com for a chance to be on the show.
00:00 Welcome to Dollars & Sense with Michelle Singletary
02:08 Meet Marian
03:31 Losing Her Husband and Estate Planning
04:56 Selling the Business During the Pandemic
06:20 Inheriting an IRA and Explaining RMDs
07:52 Social Security and Consolidating Investments
12:25 Breaking Down Marian's Current Financial Plan
15:35 The Bucket Approach
17:48 Long-Term Growth and Coverage
19:09 Grieving the Business You Built
21:13 Aging Without Kids: Who Will Look After You?
27:08 The Chapter In Between
28:12 Staying Put vs. Pivoting: Six Steps to Smart Decisions
35:15 Giving Yourself Permission to Spend
38:28 Final Thoughts: Why an Objective Third Party Matters
More episodes
View all episodes
1. How Much Should Parents Sacrifice to Pay for College?
45:38||Season 1, Ep. 1When Lauren’s daughter wanted to go to college, there was no question–she was going to be allowed to go wherever she wanted. For Lauren—who is a teacher—a good education was worth the price. But after helping their daughter through college and graduate school, Lauren and her husband are staring down nearly $92,000 in Parent Plus Loans and wondering what that debt means for their future.Michelle sits down with Lauren to figure out how the couple should tackle their loans, where they can cut back, and whether they can help their daughter with some of her own student loans.Want Michelle to answer your money question? Email dollarsandsense@washpost.com for a chance to be on the show.00:00 Welcome to Dollars & Sense with Michelle Singletary01:00 Meet Lauren: A Mom Facing $92K in Debt04:33 Paying for College While Managing Life's Expenses06:26 Was Out-of-State College Worth the Debt?10:33 Why Her Daughter's Education Was Worth the Sacrifice14:05 The Money Conversations Parents Avoid15:21 Debt Dash: Breaking Down the Numbers20:00 Credit Cards, Eating Out, and Hidden Expenses23:47 Michelle's Debt Payoff Plan: Start Small27:07 Understanding Parent PLUS Loan Repayment Options31:27 Teaching Your Kids to Talk About Money37:13 Helping Your Adult Child Become Debt-Free40:39 Lauren's Financial Action Plan
Introducing: Dollars & Sense With Michelle Singletary
01:14||Season 1, Ep. 0How do I make sense of my money? This isn’t an easy question to answer, and it’s not one you have to answer alone. On Dollars & Sense with Michelle Singletary, the Washington Post personal finance columnist Michelle Singletary gets candid about the financial decisions that shape our lives. Michelle talks with everyday people, experts, and public figures to help make sense of your dollars.Tune in every Tuesday for Michelle’s advice on questions directly from listeners. Want Michelle to answer your money question? Email dollarsandsense@washpost.com for a chance to be on the show.