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10-23-2017, 11:21 AM
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#1
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Recycles dryer sheets
Join Date: May 2012
Location: Brewster
Posts: 367
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Thus Spake Suze Orman
There is a sickness that befalls pundits: they start believing their own PR.
Suze Orman knows exactly when you must retire.
Suze Orman Says This Is the Age You Should Retire | Money
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10-23-2017, 11:27 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: North Scottsdale
Posts: 1,545
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__________________
FIRE'D in July 2009 at 51...Never look back!
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10-23-2017, 11:28 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,599
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That's two useless sets of detritus:
Suzy Orman
Money Magazine.
__________________
Only got A dimple, would have preferred 2!
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10-23-2017, 11:32 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 6,985
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This is ridiculous advice for many. Many people won't live to 70 or will be too disabled to enjoy retirement.
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10-23-2017, 11:46 AM
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#5
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,467
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Quote:
Originally Posted by Teacher Terry
This is ridiculous advice for many. Many people won't live to 70 or will be too disabled to enjoy retirement.
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+1
Plus, overdoing by trying to work until 70 could result in an early death for some.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-23-2017, 11:46 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Syracuse
Posts: 3,501
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DW used to like her show for the bitchyness she came up with in the Can I Afford It segments.
Wish I could have such a simple world view as Suzy and Dave Ramsey. One size fits everyone! Unfortunately, I ended up more like Walt Whitman - I Am Large, I Contain Multitudes
Agree with GotaDimple, I never found one actionable useful item in Money Magazine.
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
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10-23-2017, 12:16 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2008
Posts: 1,608
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Suze is nuts!! I'm glad I don't listen to her. Who wants to wait till they are 70 unless they have no other choices!
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10-23-2017, 12:21 PM
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#8
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Full time employment: Posting here.
Join Date: May 2014
Posts: 973
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If you don't save money or love your job, you can work to 70s. I want to get out as soon as possible.
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10-23-2017, 12:27 PM
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#9
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Recycles dryer sheets
Join Date: Jan 2015
Location: Kamuela
Posts: 101
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Just read that drivel as well and was going to post it. She has a large following, and some will follow her off a cliff. Sad.
__________________
________________________
Musicians don't retire; they stop when there's no more music in them.
— Louis Armstrong
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10-23-2017, 12:30 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,865
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Members here are not Suze's target audience but maybe their siblings without a dime are.
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10-23-2017, 12:34 PM
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#11
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Recycles dryer sheets
Join Date: Jan 2012
Location: Upstate SC
Posts: 294
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OOPS! Too late Suze! I guess we will just muddle through, somehow.
__________________
Don't sweat the small stuff! And realize, it is all small stuff!
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10-23-2017, 12:40 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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70 is too soon. Just work until you die on the job.
Gets rid of all those pesky "when to retire", "how much money do I need", "what will I do", "where will I go" questions.
Simple and clean. Work and die on the job. Easy.
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10-23-2017, 01:01 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: The Beautiful Blue Ridge Mountains
Posts: 2,778
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Shhhhh... we need these people to keep working and paying into the Social Security Trust Fund!
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10-23-2017, 01:04 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Aug 2010
Location: Back woods of Fennario
Posts: 1,170
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Quote:
Originally Posted by GalaxyBoy
Shhhhh... we need these people to keep working and paying into the Social Security Trust Fund!
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+1 Suze is right!
__________________
"Time wounds all heels...." - Groucho Marx
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10-23-2017, 01:05 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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Quote:
Originally Posted by Gotadimple
That's two useless sets of detritus:
Suzy Orman
Money Magazine.
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Quote:
Originally Posted by GravitySucks
.... Agree with GotaDimple, I never found one actionable useful item in Money Magazine.
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I totally disagree. While Money is not perfect, there is a lot of sound advice in there.... they were encouraging saving for retirement and no load, low-cost index investing long before it became fashionable.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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10-23-2017, 01:20 PM
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#16
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Recycles dryer sheets
Join Date: Feb 2013
Location: San Jose
Posts: 289
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Quote:
Originally Posted by pb4uski
I totally disagree. While Money is not perfect, there is a lot of sound advice in there.... they were encouraging saving for retirement and no load, low-cost index investing long before it became fashionable.
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It was also my first exposure to the concept of FIRE (their story about the Terhorsts from 1988)--
https://www.forbes.com/sites/nextave...t-35-an-update
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10-23-2017, 01:42 PM
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#17
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Recycles dryer sheets
Join Date: Jun 2005
Posts: 152
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To be fair, I think that what Suze is saying is that to be reasonably secure in retirement, MOST people (particularly people in their 50s and 60s) will need to wait longer, if possible. So, rather than taking SS at 62 and spending down your (meager savings) by the time your 80, MOST people would be better off working longer and delaying SS.
Certainly it would be better still to start saving and lbym in your 20's and 30's and FIRE in your 50s or early 60s! But that's not her audience.
More are like my sister, who took SS the day she turned 62, cashed in her retirement for a new house, spent through a couple of hundred thousand in savings, and is basically broke and dependent on her and her spouses SS at 73!
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10-23-2017, 01:51 PM
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#18
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gone traveling
Join Date: Oct 2016
Posts: 255
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Though the preface is laughable, I don't disagree with any of the 3 steps she has laid out. Particularly #2; I think people should plan to retire as soon as they are able, but be prepared to work longer than they were expecting.
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10-23-2017, 01:51 PM
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#19
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,290
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Ah, perhaps not.
Bear in mind that this group is a bunch of outliers, as numerous other threads make clear. So to look at her pontifications though the lens of what is common knowledge and practice among the members here would be, I think, misleading and inaccurate.
The group she is addressing is no one on this board, but we've all met the members of that other group. Those are the ones who think "I can make the payments" = "affordable". Savings? They have a few grand at best and that's a minority. They have never in their lives paid cash for a car or a home, new or used. They have a wallet full of credit cards and routinely carry a balance on most if not all of them from month to month.
Those are the folks who don't have a pension, don't have employer-subsidized HI in retirement, and will be living off SS as their sole source of income when they stop working. I think that constitutes most of the working-age population in the U.S., and yeah, if they're able to, they should work until they're 70 or later.
So for that group, Suze is almost certainly dead on.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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10-23-2017, 02:06 PM
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#20
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gone traveling
Join Date: Mar 2015
Location: Greenville
Posts: 653
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I have to agree with the last couple of posts. While for SOME, this advise, and the "one size fits all" approach from Dave Ramsey seems ridiculous, for MOST it may be sound advice.
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