Reported 12 months ago
Suze Orman, a prominent financial advisor, criticizes the Financial Independence, Retire Early (FIRE) movement, cautioning that retiring early without a substantial financial cushion could lead to financial disaster. Orman argues that the movement overlooks life's financial uncertainties and challenges, stressing the importance of having significant savings to account for emergencies and market fluctuations. She emphasizes the need for at least $10 million for a sustainable post-retirement life, highlighting the potential costs of health care, caregiving, and economic changes. Orman's warnings are based on her extensive financial planning experience and concern for inadequate retirement planning strategies.
Source: YAHOO