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Suzie Ormon last night

February 22nd, 2015 at 06:36 pm

Did anyone else watch The Suzie Ormon show last night. One of the people she gave advice to was a 50 year old single woman whose current financial status she graded an F. The woman's plan was to retire at 66. Suzie told her she had to wait until she was 70 so she could have an income of 50k/yr. Who would really need an income of 50k at age 70. She's not going to be doing a lot of travelling after age 70. I'm disappointed in Suzie's advice. I'm 50 and I'm not going to wait until I'm elderly before I retire, and I'm not going to be spending 50k less taxes at any point after retiring. God willing.

5 Responses to “Suzie Ormon last night ”

  1. PatientSaver Says:

    For most people annual expenses in retirement will probably vary quite a bit depending your age and needs. In your early retirement, you may want to spend on travel, but if you're over 75, you might have more out of pocket healthcare expenses. That being said, I know for a fact that I can get by NOW spending $35 or $40K, but my mortgage is paid off and I have no debt. That didn't include any travel though, nor big healthcare expenses.

  2. LittleMissSplendid Says:

    That seems like really odd advice to give. Were there other circumstances that Suze found concerning.... high cost of living area, health problems, supporting adult kids/grandkids? It also doesn't seem like waiting 4 more years would be that significant and perhaps there are other ways to reach that 50k mark within the next decade or so.

  3. rob62521 Says:

    We didn't watch Suze last night, but she often tells people to wait until 70 to retire. I think she gives good advice overall, but sometimes I think she gets a little touchy feely with some of the folks telling them why they do stuff. I realize she knows more of their backstory than we do, but, I'm there for financial pearls, not psychoanalysis. Personally, I think DH and are doing decently, but if we called in, she would have told him not to retire at 62 and we shouldn't go on vacations or buy anything new ever until you have a ton of money.

  4. CB in the City Says:

    Well, it sounds like she was advising that the woman not take Social Security until age 70, which is pretty common, and sensible advice.

    However, the idea of not retiring because you won't have a $50K income? That's a little nuts. I've never had a $50K income.

  5. snafu Says:

    We're currently traveling in SE Asia and about half the caucasian travellers are 3rd year 'gap' type in their 20's. The other half are certainly retired and half again in their 70's We are amazed at how many seniors are self directed travellers. They've figured out that in spite of language barriers and totally different cultures they can book accommodations, flights and ground transportation with a few clicks of their iPads.

    I think Bangkok is over run with American seniors. Now, if they can get the hang of bargaining with a smile!

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