Suze Orman has bleak advice for millennials looking to retire early: 'There’s no escaping the traumas that getting older can bring.'
A 28-year-old woman sitting in the front row at one of Suze Orman’s events last year asked the celebrity financial adviser for some tips on retirement. Typically, that’s bread-and-butter stuff for Orman, who has made an absolute fortune over the years dropping knowledge on all things money.The millennial would-be retiree had gotten a taste of the FIRE movement , and she was looking to hang it up within two years.“$250,000?” “Don’t talk to me about it. If that’s what you want to do, go ahead.
Former MarketWatch columnist Chuck Jaffe years ago occasionally hosted a segment on his radio show entitled — you guessed it — “Why I Hate Suze Orman.” It was nothing personal, he said. He said that she has “helped millions of people get a leg up on money management,” but that he takes issue with much of her advice, from her habit of boiling things down to the overly simplistic , to her laser-eyed focus on paying off one’s mortgage.
The ruling class wants to divide the young and old to distract us from an economy that’s rigged for the richest 1%. pic.twitter.com/v4LCNpoExU As financial blogger Mr. Money Mustache — the most notable spokesperson for FIRE — put it: “Suze Orman goes on and on about what might go wrong, and how you need an incredible amount of money saved to protect you, just in case. But this thinking is completely backward — money will not cure your fear.” The FIRE movement isn’t so much about retirement, he says, but “living your best life in all ways rather than just the financial.
Orman, who says she’s not getting directly compensated by Mogul for her work, will be the keynote speaker and host several breakout sessions at the Mogul X conference in New York in September.
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