Welcome to Hogville!      Do Not Sell My Personal Information

Suza Orman says this is the exact age you should retire

Started by HawgWild, October 23, 2017, 10:05:00 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.


Vantage 8 dude

Quote from: HawgWild on October 23, 2017, 10:05:00 am
If she's right, I'm screwed!  :)

https://www.msn.com/en-us/money/make-the-most/suze-orman-says-this-is-the-exact-age-you-should-retire/ar-AAtVD1z?li=BBmkt5R&ocid=spartanntp
Ahh, as if she knows the right age for every one out there. Well sorry, Suze.....I didn't listen to your advice. I fudged and retired a few years earlier......and having the time of my life. What a bimbo.

 

McKdaddy

Quote from: Vantage 8 dude on October 23, 2017, 11:40:45 am
Ahh, as if she knows the right age for every one out there. Well sorry, Suze.....I didn't listen to your advice.
Don't buy upgrades, ride up grades.

"You are everything that is wrong with this place . . . Ban me"

"CPI, ex-food and energy, is only good for an anorexic pedestrian"--Art Cashin

Vantage 8 dude

Quote from: HawgWild on October 23, 2017, 10:05:00 am
If she's right, I'm screwed!  :)

https://www.msn.com/en-us/money/make-the-most/suze-orman-says-this-is-the-exact-age-you-should-retire/ar-AAtVD1z?li=BBmkt5R&ocid=spartanntp
I'm actually not surprised in the least. It truly amuses as well as amazes me that anytime she's interviewed or otherwise offers up her "I know it all and you don't" spiel she breezly offers up some tripe such as investment recommendations, retirement and tax advice or whatever as if she personally knows and understands all the relevant facts concerning each and every person's individual situation. Yep, the "one size fits all" approach fits right into her wheel house of "just say anything and because of my name/(false) reputation I should be looked upon as some financial god". I can promise these are some of, if not THE, most dangerous idiots out there. Unfortunately so many unknowingly fall for that crap.

HawgWild

I usually tune out much of what she says but she did say something several years back that resonated with me: "You should enjoy saving money as much as spending it." It amazes me how much money people leave on the table that they can "harvest" with little or no effort. Cash back, no annual fee, credit cards for one. I'm going to apply over $900 to my VISA bill this month using cash back earned in the last 11 months. Free money.

Vantage 8 dude

Quote from: HawgWild on October 23, 2017, 01:23:15 pm
I usually tune out much of what she says but she did say something several years back that resonated with me: "You should enjoy saving money as much as spending it." It amazes me how much money people leave on the table that they can "harvest" with little or no effort. Cash back, no annual fee, credit cards for one. I'm going to apply over $900 to my VISA bill this month using cash back earned in the last 11 months. Free money.
Well even she can be right every once in a blue moon. Yep, it's truly amazing to me how so many folks think that by merely using debt (or leverage) that they can automatically work their way out of their financial ills. The only sure way to save money is to ensure you aren't spending everything (or more) of what you make. While there are certainly cases where saving truly is impossible, in most cases I've found it's more about self-discipline. Having the true dedication and will to forgo what you'd LIKE, but probably don't really NEED, today for the bonus of a payout tomorrow.

And you're totally correct: every dime you save on financing charges such as those on credit cards is an equal/greater return to your bottom line.

HawgWild

"finance charges" I neglected to mention that I pay my card off in full every month. Never was one to carry a balance.

Ragnar Hogbrok

Retirement isn't an age.  It's a financial number and a solid plan.  Chris Hogan is a guy I listen to concerning retirement strategies.
"Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats." ― H.L. Mencken

Hogville prediction formula:

1.  Insert bad news prediction. A loss, a recruit going elsewhere, a coach leaving, etc.
2.  Tag "hope I'm wrong," on the end.
3a.  Enjoy a correct prediction.
3b.  Act like you're relieved you're wrong and celebrate with everyone else.

Vantage 8 dude

Quote from: The Chief on October 24, 2017, 10:28:35 am
Retirement isn't an age.  It's a financial number and a solid plan.  Chris Hogan is a guy I listen to concerning retirement strategies.
Very good points you bring up. Thing is that there are so many variables that enter into the discussion that a "cookie cutter" approach to the issue is totally ridiculous. Kind of like someone firing off some type of investment allocation model based strictly on someone's age, income level or whatever.

HawgWild

You're right, one size doesn't fit all. I remember reading advice saying you needed 80% of your salary in retirement to maintain your standard of living. The latter years before I retired I was maxing out a 403b, ROTH and well into a 457 plan. I was living on less than 50% of my salary and doing it comfortably. 

DeltaBoy

If the South should lose, it means that the history of the heroic struggle will be written by the enemy, that our youth will be trained by Northern school teachers, will be impressed by all of the influences of history and education to regard our gallant dead as traitors and our maimed veterans as fit subjects for derision.
-- Major General Patrick Cleburne
The Confederacy had no better soldiers
than the Arkansans--fearless, brave, and oftentimes courageous beyond
prudence. Dickart History of Kershaws Brigade.

DeltaBoy

We do what we learned at College from a Psychology Professor to boot,  Make the bank and financing work for you and not for them,

When Lowes offers you a nice discount if you use their card and no interest for 6 months do it and pay it off on time and reap the reward.
We refined our House built in 2000 twice and got the rate down to 3% .
Any Business that offers us a company credit line with various no interest offers we take them and pay them off on time and pay no interest on what we financed. 
If the South should lose, it means that the history of the heroic struggle will be written by the enemy, that our youth will be trained by Northern school teachers, will be impressed by all of the influences of history and education to regard our gallant dead as traitors and our maimed veterans as fit subjects for derision.
-- Major General Patrick Cleburne
The Confederacy had no better soldiers
than the Arkansans--fearless, brave, and oftentimes courageous beyond
prudence. Dickart History of Kershaws Brigade.

kodiakisland

Work till you're 70.  What a joke.  Life is not about working up until the day you die.  Sad really.
If gun control worked, Chicago would look like Mayberry, not Thunderdome. http://heyjackass.com/

 

HiggiePiggy

If you are doing something you love then it's no problem working until you are 70, but if it's something you don't like then retire when you know you can afford to. 

I like my job, but my goal is to retire when I am 62. 
If a man speaks and no woman is around to hear him, is he still wrong?

kodiakisland

Quote from: HiggiePiggy on February 23, 2018, 10:19:52 pm
If you are doing something you love then it’s no problem working until you are 70, but if it’s something you don’t like then retire when you know you can afford to. 

I like my job, but my goal is to retire when I am 62. 

Sure, but very few people actually do something they love as their primary job.  I don't hate my job, but I wouldn't do it for free.  I've got too much other stuff to do than spend my whole life working.  I'm planning to retire at 58, but who knows.
If gun control worked, Chicago would look like Mayberry, not Thunderdome. http://heyjackass.com/

HiggiePiggy

My wife is 7 years older than me.  So She will be retired for awhile before I retire. I might be able to retire in my late 50s. 
If a man speaks and no woman is around to hear him, is he still wrong?

Karma

Quote from: Vantage 8 dude on October 23, 2017, 11:40:45 am
Ahh, as if she knows the right age for every one out there. Well sorry, Suze.....I didn't listen to your advice. I fudged and retired a few years earlier......and having the time of my life. What a bimbo.
Bimbo? "an attractive but empty-headed young woman, especially one perceived as a willing sex object." You think that describes Size Orman?