On the Money: Do You Need $1.5 Million to Retire?

On this episode of "On the Money," Paul Ruedi, David Ruedi, Ryan Repko, and Dr. Fred Giertz answer listener questions and discuss how Americans think they need $1.5 million to retire.

(1:02) The State of Illinois

(2:29) Beware of scammers

(8:30) Americans say they need $1.5 million to retire

(10:00) Caller suggests having secret passcode phrase for families

(18:25) Diversified, buy-and-hold investing is hard

(24:52) Question from a caller who is helping his parents strategically sell their assets

(32:10) The costs of annuities

(40:12) The many ways to go wrong

(43:11) People selling gold

(47:43) Listener text about life insurance for young people