She's Worked 36 Years As A Nurse and Saved $828,000—Now She Wants to Retire, But Suze Orman Says No. She'll Need Keep Working And Move To Oregon

Core Insights - The article discusses Lisa's financial situation as she transitions from a nursing career to pursuing her dream of working with animals, highlighting the challenges she faces in retirement planning [1][3]. Financial Assessment - Lisa graded her financial readiness as a B+, while Suze Orman assessed it as a C- due to potential changes in her financial situation after leaving full-time work [2]. - Lisa's financials appear solid, with $311,000 in retirement accounts, $87,000 in emergency savings, and $430,000 in investments, alongside a monthly take-home pay of $3,000 and expenses of $2,707 [6]. Income Projections - Orman calculated that Lisa's assets would generate approximately $2,000 a month after taxes, and with a part-time income of $20,000 a year, she would still fall short of her $4,000 monthly target by $750 [4]. - Even with potential relocation to Oregon and shared housing, Orman projected a monthly shortfall of $165 [4]. Recommendations for Improvement - Orman advised Lisa to continue working full-time until age 60 to maintain health insurance and avoid early withdrawal from savings [7]. - Relocating to Oregon could help reduce monthly expenses [7]. - At age 60, Lisa should begin collecting Social Security survivor benefits of about $700 per month, and take a part-time job limited to $15,720 per year to avoid penalties [8]. - At age 67, transitioning to her own full Social Security benefit and dropping the survivor benefit could provide a sustainable income of around $4,100 per month after taxes [8].