Retirement Planning: Understanding Costs
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Retirement Savings ToolkitMoneywise
•Business
Business & Economics
Suze Orman says retirees need this much cash on hand at all times — and it’s more than you might expect
62% Informative
Suze Orman recommends stashing away three to five years ’ worth of living expenses in a liquid, low-risk account.
The average American household has saved about $333,000 for retirement, according to the Federal Reserve’s 2022 Survey of Consumer Finances.
Orman recently shared her thoughts on her podcast, and her advice is all about playing defense.
Cutting back on extras like streaming services, frequent dining out, and impulse buys can free up cash for savings.
Automating your savings is a game-changer, too.
Delaying retirement by even a year or two can make a huge difference.
It’s also wise to keep your investment portfolio balanced.
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