Can Financial-Planning Tools Predict Your Future?

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  Here's your money briefing for Wednesday, January 8th.

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  I'm JR Whalen for the Wall Street Journal.

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  A lot of people say for the future,

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  but it's hard to know what your finances might look like down the road due to changes in the economy or stock market.

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  Our personal finance bureau chief Jeremy Olshin tried to get a snapshot of his financial future by trying out the newest generation of financial planning tools.

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  It's worth using tools like this to have conversations with your future self.

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  The biggest net effect is that person who still feels pretty distant is more real in a way

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  since I've run variations on where I might end up.

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  Jeremy will join us to discuss how you can use these tools after the break.

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  20 years ago,

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  Wall Street Journal personal finance bureau chief Jeremy Olshin asked fortune tellers to predict his financial future.

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  More recently, he plugged data into the newest generation of financial planning tools.

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  So what did he learn?

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  He joins me now.

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  Jeremy, let's start with the financial planning tool.

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  It put your personal finances through a stress test, which we usually only hear about associated with banks.

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  What are the benefits of that test?

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  The great thing about doing this is that it's more than just plugging in your numbers and getting an answer.

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  The reason you want to do this stress test is really to imagine all the things that could happen in one's life,

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  both good and bad.

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