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Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

The Fear of Retiring Poor

Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

Suze Orman Media

Investing, Business

4.84.2K Ratings

🗓️ 8 November 2018

⏱️ 28 minutes

🧾️ Download transcript

Summary

The show has received many questions about retirement and how best to invest for your futures. So, here it is, many different questions asked and answered including a big warning about a mistake made far too often with retirement plans.


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Transcript

Click on a timestamp to play from that location

0:00.0

Hey, everybody. I want you all to take advantage of the incredible interest rates that a

0:05.7

Lyon Credit Union is currently offering 4.5% for a three-month certificate, 4.75% for a six-month

0:15.2

certificate. But best of all, in my opinion, is 5% for a one-year certificate of deposit.

0:24.4

You can also purchase these in a retirement account. So go to myeliantaliant.com,

0:34.5

slash ultimate, and check it out now. Hi, I'm Sarah Pule, co-host of Suzy Orman's Women in Money.

0:42.5

As we get ready for season two of our podcast, we wanted to share some of the best episodes from

0:47.1

season one. We hope you enjoy listening. So in the last few podcasts, we've been talking about

0:56.0

the emotions of money. Love and money, guilt and family, and today I want to talk about your future

1:05.5

financially speaking. It is a reality, everybody, that your future is in your hands when it comes to

1:15.6

money. What are you doing to make sure that when you get older in life that you're going to have

1:21.6

enough money to pay your bills and to do everything that you need to do? Now, I understand that a lot

1:27.4

of you always say to me, but Suzy, I don't have enough money to pay my bills right now. How do you

1:34.4

expect me to save money? Well, here's the question, ladies. If you don't have enough money to pay your

1:41.6

bills while you have a paycheck coming in, how are you going to pay for those exact same bills

1:48.0

when you no longer have a paycheck coming in? And the answer is you're not going to be able to.

1:55.3

It is a reality that most of us are going to spend more years in retirement than we ever did

2:01.6

working. So you have got to make sure that all of your money is being put to use in the best

2:09.1

possible way for you to support yourself later on in life. Now, the best way for you to do that

2:16.8

is by putting money away today in retirement accounts. And that is the topic I want to talk about.

2:25.3

Retirement accounts. What kind of retirement accounts should you be using? And in my opinion,

2:33.0

most of you are most likely making a big mistake. You work for a corporation or a nonprofit and

2:39.9

you simply put money into their 401k, their 403b plans. And you're so happy to do so because you

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