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Author Topic: Suza Orman says this is the exact age you should retire  (Read 211 times)

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HawgWild

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Vantage 8 dude

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Re: Suza Orman says this is the exact age you should retire
« Reply #1 on: October 23, 2017, 11:40:45 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.
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McKdaddy

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Re: Suza Orman says this is the exact age you should retire
« Reply #2 on: October 23, 2017, 11:58:00 am »

Ahh, as if she knows the right age for every one out there. Well sorry, Suze.....I didn't listen to your advice.
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Vantage 8 dude

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Re: Suza Orman says this is the exact age you should retire
« Reply #3 on: October 23, 2017, 12:59:42 pm »

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.
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HawgWild

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Re: Suza Orman says this is the exact age you should retire
« Reply #4 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.
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Vantage 8 dude

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Re: Suza Orman says this is the exact age you should retire
« Reply #5 on: October 23, 2017, 01:44:11 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.
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HawgWild

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Re: Suza Orman says this is the exact age you should retire
« Reply #6 on: October 23, 2017, 03:00:18 pm »

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

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Re: Suza Orman says this is the exact age you should retire
« Reply #7 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.
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Re: Suza Orman says this is the exact age you should retire
« Reply #8 on: October 24, 2017, 11:17:26 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.
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HawgWild

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Re: Suza Orman says this is the exact age you should retire
« Reply #9 on: October 24, 2017, 12:34:02 pm »

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. 
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DeltaBoy

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Re: Suza Orman says this is the exact age you should retire
« Reply #10 on: November 10, 2017, 02:49:26 pm »

Sobering and I am set to retire at 57.
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