Suze Orman How To Avoid Running Out Of Money In Retirement
Suze Orman: How To Avoid Running Out Of Money In Retirement
• Talk to your kids. They deserve to know what's going on, and maybe they can help you think through your options. You can also lean on them, or someone else you trust implicitly, to help you manage your financial accounts. Another pair of eyes can give you peace of mind as you juggle accounts and bills. • Double up. Everyone should move to a smaller space at this age (see ), though you can go further. Have a frank family talk about whether you might live with one of your children (or one of them might live with you), with everyone pitching in on the costs. It's a solution for a growing number of families. • Continue investing (some) for growth. Putting most of your investments in cash or short-term bonds makes sense at this age. But not all your investments! Consider keeping a small portion — maybe 20 or 30 percent or so — in dividend-paying stocks. Over time, they have historically produced gains that beat inflation. Having some of your money growing so it can potentially keep up with rising costs is important. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures
Help I' m 70 and Worried I' ll Run Out of Money
Suze Orman' s advice for those worried about running out of money in retirement
Getty Images Are your finances upsetting you? No job and little retirement savings yet looming expenses? Hope is not a solution. You need to act now. As you read my advice, don't say, "Oh, I can't possibly do that." Building more security is both kind and necessary for you and your family.• Talk to your kids. They deserve to know what's going on, and maybe they can help you think through your options. You can also lean on them, or someone else you trust implicitly, to help you manage your financial accounts. Another pair of eyes can give you peace of mind as you juggle accounts and bills. • Double up. Everyone should move to a smaller space at this age (see ), though you can go further. Have a frank family talk about whether you might live with one of your children (or one of them might live with you), with everyone pitching in on the costs. It's a solution for a growing number of families. • Continue investing (some) for growth. Putting most of your investments in cash or short-term bonds makes sense at this age. But not all your investments! Consider keeping a small portion — maybe 20 or 30 percent or so — in dividend-paying stocks. Over time, they have historically produced gains that beat inflation. Having some of your money growing so it can potentially keep up with rising costs is important. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures