Afford Anything Why I Hate the FIRE Movement, says Suze Orman
Oct 1, 2018
In a candid conversation, Suze Orman, the famous personal finance educator and author, shares her strong dislike for the FIRE movement. She argues it's a dangerous path, discussing the risks of early retirement and the need for substantial financial reserves. Suze highlights the hurdles of later-life financial challenges, the importance of sustainable income, and the need for proactive financial planning. She also reflects on self-worth, ethical investing, and the significance of appropriate insurance to safeguard against unexpected challenges.
AI Snips
Chapters
Books
Transcript
Episode notes
Risks of Early Retirement
- Suze Orman believes retiring early with limited funds is risky due to unexpected life events and rising costs.
- She doubts smaller portfolios can sustain long-term health and care expenses as one ages.
Insure Income If Retiring Early
- If retiring early, secure disability insurance because you lack work-based protections.
- Understand your portfolio might not generate consistent income; plan for market risks.
Income vs. Spending and Retirement
- Lower-income earners often retire with sufficient funds due to living within means.
- Higher earners tend to spend more and save less, risking insufficient retirement funds.
