Jill on Money Radio Show: I'm 48, Can I Retire at 55?

Happy Independence Day weekend! Six months in the books, six more to go.

Speaking of independence, we have yet another caller looking to break free from the ball and chain that is his job. In this case, our 48 year old caller is looking to call it quits at 55. Can he make this dream a reality?

Because we're halfway through 2021 it’s time for a little "State of the Economy" with our favorite numbers cruncher and overall badass, Diane Swonk, chief economist at Grant Thornton. 

The Federal Open Market Committee (FOMC) unanimously voted to keep short-term interest rates unchanged and the pace of asset purchases at $120 billion per month. The statement following the June meeting was much more upbeat about the progress of vaccinations and the economy.

The bottom line is that Fed Chairman Jerome Powell tried to reassure the public and financial markets that the Fed will not allow inflation to get out of control. The Fed’s own forecast, or “dot plot” as it is called, showed a substantial move up in the timing of rate hikes. The problem for financial markets is that inflation and rate hikes are always unwelcome.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.