Are Retirement Calculators Lying to Me?

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 17 October 2022

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

When I use various retirement calculators, the numbers seem too good to be true. Can I trust the results that I am seeing?

Have a money question? Email us, ask jill [at] jill on money dot com.

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

Transcript

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0:00.0	Welcome to the Jill on Money Show.
0:05.6	It's Monday, October 17th, and we are here trying to take the mystery out of your financial
0:11.3	life.
0:12.3	How do we do that?
0:13.3	We do that by actually asking you to do a little work.
0:17.0	If you wouldn't mind, you go to our website JillOnMoney.com.
0:20.9	You click on the contact us button and you write down what your question is.
0:25.2	And it can be anything.
0:26.2	It can be a big overarching question.
0:28.8	It might be a specific question.
0:30.4	Oh, Mark, I have a question for you.
0:32.6	Someone asked me a question that I didn't know about, which is, what is the difference
0:37.8	between a brokered CD and a non-brokered CD?
0:43.3	And I imagine that a brokered CD just has a higher interest rate, but also a higher
0:47.3	fee.
0:48.3	Is that right?
0:49.3	Basically, but you're right.
0:50.3	We're going to be getting a lot of those emails as well.
0:52.3	People are seeing that the CD's found that brokerage houses are offering pretty good rates
0:56.8	right now.
0:57.8	They're skeptical because they're not very familiar with them.
0:59.8	So we've got a lot of emails like, is this legit, is it safe?
	...

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