Jeff Kizer doesn’t equate money with happiness. But his future concerns him.

By Jeanne Sahadi, CNN

(CNN) — When it comes to money, Jeff Kizer’s mindset might best be summed up as … chill.

Jeff said he loves both his jobs – one as a math teacher at a private school and one as a tennis coach. And he wants to work into his 70s if possible. For him, he said, happiness isn’t tied to having more money.

“Money doesn’t bring me happiness – it’s doing stuff with people I love, like playing basketball with friends,” he said. “Money is a resource to do things that make me happy, and I don’t do a lot of things.”

Craig Toberman, a certified financial planner who is working with Jeff on his goal to bump up his retirement savings, said Jeff has a few big things working in his favor financially:

• He is living within his means.
• He doesn’t carry high-rate credit card debt. And ….
• He has “the right mindset. Money is psychological. He’s enjoying the journey. That takes a lot of stress off,” Craig said.

Jeff has been putting away a quarter of his combined income of $113,000 into two 401(k) plans and had amassed nearly $165,000, including $10,000 in an IRA, when he began the CNN Savings Challenge. But he said he’s not trying to “hustle” to catch up as many people in their late 50s do. “Everyone around me is racing to retirement,” Jeff said.

To get a better sense of Jeff’s financial situation, Craig asked him to set up an online account at SocialSecurity.gov to get his latest Social Security statement and learn what his estimated benefit will be when he retires. And he asked Jeff to get more details about the formulas behind the 401(k) matches he receives.

While saving more is often recommended to anyone concerned they won’t have enough in retirement, Craig told CNN that in Jeff’s case he may actually recommend saving a little less – at least until Jeff pays down more than $80,000 in debts, which include a student loan and a personal loan. Doing so will buy him a little more financial freedom in the years ahead while still building a sufficient nest egg.

What’s next: We’ll catch up again with Jeff in a few weeks. But next week, you’ll meet another participant, Abbey Graf.

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