Suze has spoken - new retirement age 70 - 'not a month or year before"

[woodguy00]

https://www.msn.com/en-us/money/savingandinvesting/suze-orman-and-stanford-agree-on-the-new-retirement-age/ar-BBItDdS?li=BBnb7Kz

" If you want a secure retirement, you may have to rethink when you plan on leaving the workforce. According to personal finance maven Suze Orman, "70 is the new retirement age — not a month or year before." "


OK everybody, back to work! For anyone planning to go early, don't even think about -the experts have spoken.

[Rosie]

Sorry, that's old news here.

http://www.early-retirement.org/foru...0-a-89133.html

and

http://www.early-retirement.org/foru...man-88933.html

[H2ODude]

Quote:

Originally Posted by woodguy00 https://www.msn.com/en-us/money/savingandinvesting/suze-orman-and-stanford-agree-on-the-new-retirement-age/ar-BBItDdS?li=BBnb7Kz " If you want a secure retirement, you may have to rethink when you plan on leaving the workforce. According to personal finance maven Suze Orman, "70 is the new retirement age — not a month or year before." " OK everybody, back to work! For anyone planning to go early, don't even think about -the experts have spoken.

Four letter word to her followed by, oh, never mind.

[RobbieB]

Sure Suzie, anything you say, imma gonna get me another job tomorrow.

[retired1]

Quote:

Originally Posted by woodguy00 https://www.msn.com/en-us/money/savingandinvesting/suze-orman-and-stanford-agree-on-the-new-retirement-age/ar-BBItDdS?li=BBnb7Kz " If you want a secure retirement, you may have to rethink when you plan on leaving the workforce. According to personal finance maven Suze Orman, "70 is the new retirement age — not a month or year before." " OK everybody, back to work! For anyone planning to go early, don't even think about -the experts have spoken.

LOL. 70 !! Next is what? Work in the grave I have ZERO trust in these so called *experts*.

[braumeister]

Since Suzie is currently 66, I guess that means we'll only have to listen to her for another four years.

[Dtail]

Might work for the masses aka Dave Ramsey, but not this site.

[Yarnstormer]

Suze can bite me

[joeea]

Suze speaks to a different audience than the one that reads this forum. She tends to have decent, if overly-strident, advice for a certain group of folks.

Like all "personal finance entertainers", we can learn a little bit from what she says, as long as we understand to ignore the rest.

Does anyone really think someone preaching that "the new retirement age is 70" would be a welcome voice in an Early Retirement forum?

[Cheesehead]

She has been TOTALLY discredited. Watch this:

https://www.youtube.com/watch?v=wZJh25-sO98

[Travelfreek]

haha - 70. Tell that to the people working hard construction or the letter carriers whose feet and knees have been broken down from years of pounding the pavement or the train engineers who have no hearing left. I guess working can include changing your career choice though.

I have to admit I used to LOVE watching her shows each week. My favorite thing was the smackdowns she would dole out. I really did learn a lot from her (like index funds and fee-based financial planners and not going into more debt). She's definitely an entertainer along the lines of Jim Cramer. But, she did educate the masses about financial security and that was helpful. She did started selling things that I never fell for, thank goodness.

I've also learned a lot from Dave Ramsey as well. He's fun to listen to with his ability to articulate and to speak truth and be blunt. His advice is simple. Spend less than you make and pay off debt in order of smallest to largest to feel the most impact and give you momentum in the process. I just know what to ignore from each of them. Dave knows almost nothing about pensions and I cringe when he advises folks to take their money out of pensions instead of taking the annuity. Since he's been self-employed all his life, this is one area of financial advice he should not touch with a 39 1/2 foot pole. I do think he does a great service to offer free podcast advice to those who need it or those who like to listen to it for reinforcement. I also agree that if you have no debt, your income is free to be saved and invested which will result in making you financial independent in time.

[davebarnes]

Only 9.5 months to go.
Of course I am unlikely to retire at 70 as I need to keep the Trophy Wife (60) working until 65-67.

[garyt]

Truth be told, she is right for the vast majority of Americans. We're all extreme outliers here. I don't know anyone I work with who can retire before 65, and most should probably wait till 70. People are pretty open about their savings and the top I've heard is about $300k for a 59 y/o. Most are in the $200k range and that's for managers et al. The working folk are more in the $50K range. We have no pensions and no health care in retirement. I never throw out my number, I just listen.

[REWahoo]

Quote:

Originally Posted by garyt Truth be told, she is right for the vast majority of Americans. We're all extreme outliers here. I don't know anyone I work with who can retire before 65, and most should probably wait till 70.

Suze fails to mention this:

Quote:

Americans age 55 and older have the highest rate of fatal work injuries among all age groups, and it worsens as they get older. According to the Census of Fatal Occupation Injuries, the death rate for workers 65 and up was almost three times the national average in 2016, the last year figures were compiled.

Working too long can be unhealthy -- and fatal

[DEC-1982]

Suze has often, but not always, given good advice to the masses.

[Dawg52]

For the masses, working and waiting for max SS benefits makes sense. I have a couple of friends that will have to go this route mainly because of poor decisions along the way. And many simply do not make enough to amass a decent nest egg. I don't care for her but she is just stating the obvious.

[donheff]

Interesting. I turn 70 later in the year and have been retired since I was 56. Looking back I guess I could've done my time until now if I hadn't prepared for retirement. I'm still felling fine. But the years between 60 and 70 can be pretty tough for a lot of people so the better bet is to be financially prepared to pull the plug sooner.

[JoeWras]

Quote:

Originally Posted by RobbieB Sure Suzie, anything you say, imma gonna get me another job tomorrow.

Good for you! More dough, for you to blow! Just no time to do it.

[street]

Her audience is mostly people that have money issues and haven't done any planning. Any way what little I have seen and or heard of her shows.

The one thing in the article that was posted is a retirement calculator. If you punch in our numbers you will see why her advise means really nothing to most.

[Retire52]

Quote:

Originally Posted by Yarnstormer Suze can bite me

+1