5 Retirement Tips From Money Expert Suze Orman

Core Insights - Suze Orman provides essential retirement strategies to help individuals secure their financial future, emphasizing the importance of informed decision-making in retirement planning [1][2]. Group 1: Retirement Account Strategies - Orman recommends prioritizing Roth accounts, such as Roth IRAs and Roth 401(k)s, over traditional tax-deferred accounts due to their tax-free growth and withdrawal benefits [3][4]. - If an employer offers both Roth and traditional 401(k) options, Orman advises choosing the Roth 401(k) for its rollover benefits to a Roth IRA, which avoids required minimum distribution rules [5]. Group 2: Investment Strategies - Market dips should be viewed as buying opportunities rather than reasons to sell stocks, especially for those with a long investment horizon of 10 years or more [6]. - Maximizing employer 401(k) matches is crucial, as failing to do so equates to leaving free money on the table, potentially adding tens of thousands of dollars over time [7]. Group 3: Financial Management - Orman cautions against depleting retirement funds for significant life events, such as weddings, stressing that retirement savings should not be sacrificed for these occasions [8].