After three years of a self-induced retirement, Suze Orman is back on the scene. Yes, after giving up her CNBC Saturday Night Call-In Television show, her radio show, after stopping all her PBS recording lectures, after canceling all of her appearances on the Oprah Winfrey network and after selling her five houses and settling down to just one home on one Caribbean island and fishing all.day.long. Suze Orman has announced she’s done with retirement and is back with a vengeance.
What is the reason for this 180 degree turnabout? Suze Orman has made a great financial discovery and she wants to share it with the world. What has Ms. Orman uncovered?
Take it from a woman who knows. Take it from a world renown financial genius who has made “tens of millions and millions of dollars” (Suze’s words. Not mine) if you have retired before you are 70 years old, or heaven forbid, you are one of the FIRE children (Financial Independent Retire Early) who saved just a few measly million dollars and left the workforce by 30, Suze Orman is going to scare the bejesus right out of your body when you listen to this recent one hour podcast.
When Suze Orman was interviewed by Afford Anything blog author, Paula Pant, the first question Pant asked Ms. Orman was what she thought of the FIRE Movement. Suze answered in three sentences: I hate it. I hate it. I hate it. Orman’s reasoning however, is where the scary part comes in. Rightly so, Suze explained that most 30 year olds do not know and could never know the horrors and the calamities life will have in store for them. In order to be properly prepared for these tsunamis, hurricanes, floodings, mass murders, sickness, life-threatening diseases etc. etc. etc. Ms. Orman recommends having at least $50million dollars in the bank.
Are you scared yet? I was. I didn’t sleep for days after listening to this podcast. By the end of the hour, I felt small. Like the size of an amoeba. Or worse yet….an atom on an amoeba. Better yet, a split atom on the side of a amoeba.
Listen to the podcast yourself. But be forewarned: if you’re retired (and young) leave the lights on and hide all your financial statements. According to Suze Orman, only a laborer who has earned $50K annually in his lifetime, has worked all the way up to 70 years of age, invested in an employer matched 401K all his/her working life, and has a paid off house and a paid for 10 to 15 year old car, can retire properly. Anyone else who was professionally paid, earned millions and saved even more millions will not adequately nor successfully be able to retire. Oh! the humanity of it all!
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