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Suze Orman: Why I Hate the FIRE Movement | Afford Anything Podcast (Audio-Only)

Frames Suze Orman: Why I Hate the FIRE Movement | Afford Anything Podcast (Audio-Only)

Description Suze Orman: Why I Hate the FIRE Movement | Afford Anything Podcast (Audio-Only)

Comments Suze Orman: Why I Hate the FIRE Movement | Afford Anything Podcast (Audio-Only)

Gotta make sure you get all your credit quarters/years for toward Social Security benefits I agree with Suze this time High Investment Yields are difficult to maintain Comment from : Cande Carroll

THANK YOU, THANK YOU, MS SUZE FOR THIS DEEPLY PROFOUND IMPORTANT LESSON PEACE, LOVE, AND LIGHT BE WITH YOU ALL 🙏😍💝💝 Comment from : Angela Smith

The way she talks there would be old folks living in the streets by the millions Do we? No Comment from : SuperApe

Need Suze and a round table of FI experts, financial planners to have a discussion We all need this Comment from : SuperApe

The median salary in USA is about 60k I don’t understand why 80k passive income plus 2 million in the bank is not enough to retire It all depends on your consumption levels Comment from : Pengbert Wu

Every single one of her scenarios is better handled as a financially independence person It's the dependent worker who would be in trouble Comment from : D B

Been watching, listening, and paying attention to all of predictions and forecasts since early Covid He hasn't disappointed yet 👌 Comment from : Harrison Jamie

I keep asking all financial people on you tube but haven't gotten any answers Why would I trust anyone with my money They keep talking INVEST Anyone remember Bernie Madoff????? I worked hard all my life with a husband who suffered from Agent Orange illnesses and passed in 2020 I retired in 2002 at 54 and took care of him until he passed I have no consumer debt I own my home but have a mortgage of only 190k with 2875 interest I pay extra on the principal almost every month I live way below my means and save as much as possible every month Comment from : Diana Binkowski

I personally don’t like her negative mindset, yes! Shit happens but she is too much… I don’t like her telling me what to do One thing is giving advice and talking about what you have done in your own life… not a fan but thank you for showing us the other side Comment from : Angie C

life is full of unknowns, we should all be FI, but RE is a risk in itself as well Comment from : GabeG plays

Most people will have nothing close to 500,000 Enjoy your life Screw money Comment from : greg_rrt_001

I don't wanna retire I just want a damn sabbatical which I am prepared for and afraid to take 33 years old single, no kids, no debt Comment from : Hanif Jones

It's just too costly to retire, if at all possible don't do it Comment from : Kickicker

Suze Orman knew how to give an interview that would go viral That's marketing Comment from : Robert

I agreed with Suze Orman that Fire Movement will lead to dangerous zone if no health care or disability coverage plan I agreed 99 with her reason Fire Movement did not think about care for young kids or parents that may need your help FIRE movement is some sort of selfishness to think only your coverage mostly I disagreed 1 of Suze Orman reasoning because there is a hidden agenda I see here It is the money continues to be not yours while you’re working and contributing into 401k or any retirement accounts You will continue to pay the broker and the broker will get the benefit from you, as long as you work and contribute into retirement plans if you’re not FIRE movement You will pay tax until you no longer work or in the Roth status You will be part of the economic stabilizer, you stabilize the economy as a whole such as funding monthly into retirement plans to stabilize stock markets, paying fees to the institutions holding your investments, funding growth of the companies you are investing in regardless index funds or mutual funds or individual stocks or real estate and so on Basically, you help everyone and yourself at the same time You are the participant of your own society FIRE movement will free you from the low level participant to a middle and unreliable participant of the society Meaning, you can be successful or a burden to society later You can disagree with my comment I appreciate the strong reasoning Ms Suze Orman given in this show Comment from : Gi C

This is officially the best interview I have ever heard in my lifetime I love her Comment from : P

Suze is right Comment from : veeren chithriki

Why is this person who knows nothing about the FIRE movement commenting on it? The height of arrogance A loudmouth clown Comment from : M456

This is a very interesting interview You did a great job interviewing Ms Paula Comment from : Danelle Dautrieve Sanford

Syco Suzykeepin it real! She want every one to keep working so her taxes don't go up Comment from : Bryan Mauro

ok, this is good advice for people only focusing on Lean Fire, Retire Early For that, thank you Suze However, most intelligent people understand the entire spectrum of what FIRE entails I think the most important thing is to gain financial independence so you can have more choice when it comes to working Another important thing that FIRE teaches is to cut back on consumerism, to find happiness in fulfillment in relationships, time spent with others, and avoiding debt So take the good things from FIRE and from Suze's advice, and do YOU! Comment from : mommabohm22

Suze is spot on about AI taking our jobs by 2030 Just think about the progress made in just the last 4 months Even all of those outsourced IT jobs in India will be drastically cut in the next 10 years Comment from : MrRibby88

Totally over the top intro The definition of woke Do we now have to apologise for views on anything now? Just for ratings Comment from : Mark Heath

Anytime someone says, “Most people will have a problem with what someone says or their opinion,” I make a point to listen to that person This was a very good interview with great insights You should work as long as you possibly can because you don’t know what will/can happen in the future Hopefully we like our jobs/careers enough to do that Comment from : Lucius Gordon

I think she has a point, but at the end of the day every individual should handle it to fit their needs, and have a good plan In my case, I do not even have a million dollars At 67, I have a couple retirement accounts, one is a Roth,, with about 300K together, and I just got my SSA first check I am planning on doing part time because I need more time for self and family So far my health is good, and I do everything in my power to keep it that way If you handle your money wisely, pay off your house, amass little to no consumer debt (I was smart enough to do these things); you should be ok retiring early on a couple of millions I do not need 80,000k a year; I can manage with 40k or less, and still have some fun The one thing I regret is not becoming more involved in my finances, early, but that is done I would had probably retired a bit earlier I will continue to invest carefully and right now my cash is in interest earning fixed income to balance things out, and I am diversified I do not feel the need to start touching my retirement accounts yet I also have been looking into the idea of retiring abroad to make things financially easy, and healthcare more affordable, should I need it in the future For some, retiring early works; after all tomorrow is not guaranteed For others like me, I had to wait a while and learn more I had nobody to teach me, and I was told work and save, and that's what I did for too many years Good retirement for all whatever your plan is! Comment from : Nora Zelaya

Wauwwi'm so amaze how paula kept her composure on the whole discussion Suze sounds like a baby that cry because somebody play her games better than her🤭 Comment from : Bagus Anindityo

Love to hear the nay sayer's after covid lol Comment from : Shanon Antony

Suze is quite frankly full of BS She keeps harping on situations that arise that would cost a lot of money and prevent you from working, as if they are reasons to keep working Huh? Also she pooh-poohs $80,000 a year from a $2,000,000 portfolio (an amount that will likely persist that portfolio in perpetuity) but doesn’t mention that this is equivalent to closer to $100,000 in labor income because no payroll taxes (SS/Medicare - 7x of income) or retirement savings (15 of income) will be taken from it Also, she isn’t addressing that Social Security will be adding in most FIRE-income level folks finances $25,000 a year or more of additional income after age 62 So $100K-equivalent $80K withdrawals plus $25K+ more And she thinks it’s “tough” to survive on that? That’s more money than 85 of households make in the USA! Comment from : Autos389

Suze’s primary opening argument is “if you’re FIREd and something disastrous happens what will you do?” Uh, how about return to work? Sure you may not make as much as you did at the height of whatever career you’re FIREd from, but you still have a large amassed amount of money that supplements it Not sure why she thinks people can’t adapt to situations as they arise You don’t never retire because *something might happen* Same reason we drive our cars everywhere despite knowing it could result in an accident/injury/death Comment from : Autos389

The biggest problem isn't running out of money It's running out of life, don't listen to this fear mongering Comment from : sbkpilot11

Wait, what?! She's against target date funds too That's an hour of my life that I'll never get back Comment from : Jack Guida

Nobody can afford what Susie's mom got Her, "I'm comparing you to me" method is a red herring Comment from : Random Activities Co

Jesus H Christ in a taxicab can that woman talk Hard to get a word in edgewise Comment from : critter mccormick

Size is right 100 Let them suffer big time Comment from : Kim Chan

I think fire later in life like 55ish 59ish is doable with 2 to 3 million You'll need health insurance from the marketplace plans or maybe move to a country where they have affordable health care and come back if you want to the usa later if social security etc is still available That's kinda our plan but I still want to work part time after 55 Husband doesn't want to work at 55 I think lean fire is scary and risky Regular fire in the 50s and fat fire is more secure We also have life insurance and only a mortgage debt which will be paid off by retirement We have a 6 month emergency fund which will be boosted up to 2 years worth in retirement We invest and max everything out, and now looking at investing in real estate We do our best to be careful and I don't think fire is good for everyone It's not doable to reach over 3 million for us by 55 but I think we will have enough We don't have kids that helps us save I know people retired living only on social security 20k a year but make do because everything is paid off I'm so worried if when some catastrophe happens to them and they have no nest egg, no home insurance either Very scary We will have as much security as possible going into fire I can't imagine not having insurance, will, emergency fund etc Comment from : Michelle Being Creative

She sold all her Tesla Stock! 🙄😬 Because she doesn't like the management 😏😂 Comment from : joe brown

Suze should've did a little research on this show Literally the worst crowd to talk to Suze we know all the stuff you speeching of Shes definitely talking about lean FIRE 😂 Comment from : joe brown

Too much bullshit brNot because am biased but I can clearly see that she is trying to scare people off and if more people get freedom and time and leave their jobs she well take a direct hit financially you can clearly see that she is way too defensive about her opinionsbrbrWall street ☕️ Comment from : Omar Al kayal

Basically, Suze's advice is that only the 1 get to retire If you read between the lines though, she does give at least one nugget of very clear advice; aim for FI, but use that to springboard into a passionate lifestyle that you don't bfeel/b like it's work moving forwardbrBasically, Suze sees "Retirement" as doing nothing and I believe a majority of those seeking FIRE, are not truly seeking that specific niche lifestyle I think we are bmostly/b looking for exactly what Paula mentions in the wrap-upthe security from investments that allows minimal risk when searching for or otherwise pursuing passionate hobbies, that could even possibly earn an income and allow that investment portfolio to continue compounding once the hobby takes offbrAfter listeningagain, I am personally still FIREd up about FI(with or without RE, however you define it)brFinancially Independent Work Optional, as some have more clearly articulated Comment from : Xal Dath

Moral of the story, if you want to retire early, having kids Is a huge potential liability and risk Comment from : Jofie Raymond

Was sure to like the video Possibly the most contradicting & laughable ideas ever Yes invest well living your life in fear of a catastrophic event, not a good investment Comment from : ATse7en

bInsightful post Anyone who doesn't invest is really missing out For me, investing is the best decision anyone can make to improve their finances I have been in this experience since 2014 which has helped me improve my finances/b Comment from : Winifred Morris

So Suze's real issue with the FIRE Movement is that people are lazy or whatever It's the fact that in the US there is almost a total lack of social safety nets and the astronomical cost of healthcare What she also fails to touch on is even if someone is continuing work, they could get into an accident, get sick or have to stop working to become the caretaker of a loved one Even if they were doing everything "right" according to Suze, that person would still be in deep financial debt and burden because of healthcare cost and the lack of social safety nets Comment from : Mindyourbusiness82

Suze did do FIRE method though! She got financially independent and had time to make more money to do what she loved that gave her the lifestyle she now boasts about Comment from : Raselette Hunt

I don't like Tesla either! I love Suze Orman!!! Comment from : Bridgette Traveler

Paula, you are making a terrible statement We know Suze is giving a strong opinion If you don't like it, simply don´t post it And if you do and don´t like it, we don´t need minutes of you excusing yourself because you are afraid of losing viewers or whatever Nobody has to agree with Suze or you Comment from : Mich McKing

The biggest mistake ever - is to retire on 80K a year what an F-ing joke Comment from : david jarvi

Hurts her book sales probably Comment from : Ethan Young

It’s just stupid, she is The US way, in health care doesn’t help, of course, but still Comment from : Cesar Marques

The best time to retire is during high school Comment from : Roman Hryniszak

Love it, I'm for Financial independence but also for loving what you do and your work Comment from : Gabriela Pirvu

Sounds like she only made one mistake Selling her Tesla Ouch Comment from : victor03000

Thanks, she’s right! Things happen and you should invest as much as you can in your early years It’s a shame you had to put in such a long disclaimer at the start Comment from : David Sweetnam

Is anyone still listening to this hack??? Anyone Oprah supports is usually someone I would NOT trust Comment from : Hazel L

I was so grateful that I ran across this interview I really love to hear arguments against popular movements in case I'm seriously falling for that confirmation bias Paula was talking about I too have a lot of respect for Suzie She was one of the first to be publicly advocating for financial education of the masses And thanks to people like her and Dave Ramsey, many people are taking control of their finances and investing I give her plenty of props, however it's abundantly clear that she does not understand the very basic precepts of the FIRE movement, which our interviewer, Paula, so eloquently restated for everyone In a nutshell, retire early, learn how to take care of your money and make it grow along the way, and go do what you love! br(I very highly doubt that the folks who actually achieve FIRE are those that end up sitting on their asses all day ordering from Domino's and binge streaming shows 24/7 Maybe for a few days, but achievers are achievers and once FIRE is crossed off their to do list, it's on the next challenge, que no?) Comment from : Caelo Marroquin

Okay, she goes from saying you need 40 million, to endorsing living below your means???? I'm so lost She literally just contradicted herself Comment from : Verno Jay Records

Holy crap! She actually suggested that you NEED over 40 million dollars???? Go look at a financial net worth comparison that's literally the top 1, you will not be there No one you know will be there That only happens if you scale a business, (Like she did) or you inherit a couple million when you are young YOU, AND EVERYONE YOU KNOW WILL NEVER HAVE ENOUGH ACCORDING TO SUZE YOU WILL WORK UNTIL YOU DIE Comment from : Verno Jay Records

If medical were going to cost me $30k a month, I would not want to live That's insane, I'd request the plug to be pulled She honestly is living in a completely different world than the common man Comment from : Verno Jay Records

Paula, thank you for your willingness to do this interview, to put it on your channel, to present an alternative perspective I think we all have family or friends who would represent the same view point (that FIRE people are crazy or short sided) FIRE gives us choice Comment from : Matthew

WOW!!!! She’s right I am one of those who will never retire at this writing the world has changed retirement age will be 70 years of age and we will live longer better find work that you love and get paid well to do save invest and live below your means Comment from : Victor Brown

Why can’t america look after it’s people when they are sick? I’m so confused by the healthcare Her only gripe with it seems to be what happens if you get sick or injuredbrAlthough in Europe you pay higher taxes so I don’t necessarily know if you can put away the kind of money needed to retire early That’s the trade off I guess Very depressing Comment from : ffi1001

A worthwhile conversation to listen to no matter your opinion Thanks for being willing to record this and put it out there Paula! Comment from : Christina B

🤣 She's like the female trump 🤣 "Nobody has talked to more people about money than me anywhere in this world" Brilliant Comment from : Mike

Im 3 years late and can’t believe she said these things She speaks with so much conviction & I totally understand how she became popular She’s entertaining at least Comment from : Jasmine

My house just burned down and I am ready to spit hearing this womanI am just asking for information, and this woman is a caricature of her worst self Loved your intro, btw!! Will sub for sure Comment from : Lauren Jean Green Bean

I agree with Suze I am in my 70s have paid millions for my parents long term care and still pay for my sister who was hit by a drunk 40 years ago I also paid over 500K for my sisters cancer treatments She died and left 3 young kids who I provided for A company I worked for years ago went Bankrupt God bless everyone who can retire at 30 and 40 and have no problems tI did not happen to me If I had a choice in life I would rather be the poorest person in the world and have no problems Unfortunately in life we do not have that choices It is much better to be rich and unhappy than poor and unhappy Suze is correct unfortunately Comment from : Karl West

I feel like Suzy is living in a parallel universe where there is no insurance No long-term care insurance, no home insurance, no health insurance, no car insurance Life happens I am prime example of that, I have a special needs child with a devastating disability, All her worse case is my life And I am able to achieve fire I don't see how working your whole life prevents any of these things But being financially independent will help when Murphey knock on the door And she expects people to do anything but sit on a couch and watch tv Come on when you are FIRE you become free to be who you are meant to be without the worries of day-to-day rat race My cousin was in a car accident at 27 and is a vegetable now He never enjoyed this life because of the daily work to make ends meet Comment from : Merily

Thanks for pushing against her points in a way that gets her to lay out her logic and math Very helpful for putting her view into context Personally, I'm pursuing the FI part of FIRE but kudos and good luck to anyone who has early retirement as a goal I'm rooting for anyone who's actively pursuing their goals, whatever they are and wherever they leadbrbrOne thing that she doesn't seem seem consider is quality of life When I'm 60, even 40, I'm going to value the experiences (travel, friends, etc) that I invested in much more than the potential $ that I could have made from letting it compound I do both, but decided to not to let those experiential opportunities go by There's a balance to strike between saving for the future and living in the moment brbrAlso, what's up with all of her bragging near the end? About 80 the way through We get it Suzy, you capitalized and optimized your reputation Congrats Popularity isn't proof of a message's truth value Comment from : Emily Elisabeth

Wow, this is such an American point of view In more civilized countries we have national healthcare that is paid for by our taxes, so we don't have to worry about the number one reason for bankruptcyhealthcare exenses!!! Retire in a cheaper country with national healthcare Comment from : starveartist

Can all such unforseen expenses be covered by insurances? Isn't that why people got insurances? Comment from : YF

I read the comments before watching the video and I couldn't agree with Suze more When I was 20 years younger, I thought 2 million was great when minimum wage was 7 bucks Now at age 50, I realize 2 million was only adequate for a single person living in a very tight budget Now in a world of 7 inflation 5 million per person is more like it Try reworking your FIRE number, competing with a $20 minimum wage for 16 year old in 10 years All of a sudden, you realize how little you have All these commenters need to post their ages I'm sure they are naive people in their 20s-40s Truth hurts I would rather be wrong listening to Suze, than wrong not listening to her Comment from : OneWayofLiving

Wow so glad someone said this Never thought about most of these Comment from : Lilia Mckenzie

Typical boomer Comment from : Proud Patriarch

Watching this in 2021, hearing Suze warn about 25 unemployment because machines are going to take our jobs is so funny Companies are begging for employees, and people are like, nah go get a robot Comment from : The Manifestors Mind

50:50, LOL Boy, I bet she really wished she had kept her Tesla stock "I don't like what I see happening with management" Comment from : brianmcg321

I think if AI takes over and no one is working, we will have civil collapse, best case we‘ve lost our jobs I don‘t see a big difference here Comment from : RiverPines

Goddamn! This woman has come out swinging Normally, I am not a fan of Suze Orman, but this was pretty good However, I can see how many see her as being boastful, but at the same time, she is showering the listener with ice water real hard Giving you both barrels, Suze is, and right between the eyesbrbrOnce again, this was pretty good Comment from : Gregory McMahan

Respect her opinion but she lives in a different world What is wrong with someone retiring early? If anything, her generation has screwed millennials Comment from : Patrick Hill

I think she doesn't understand the life of poor people lol some ppl never see $80k a year their whole life 😂 Comment from : Landria Buckley

This advice/suggestion/consideration re early retirement is irresponsible Did people tell slaves to refuse their freedom in case they didn't find a job? Comment from : Robert Dagge

Suze is so angry Every argument she gave against FIRE also supports FIRE She was irrational Basically she said that there is no amount of money that will be enough FIRE goes against her personal interest Who would need her books? Who would need her advice? Suze, bad things can happen Money doesn't solve every tragedy No matter how much you have Comment from : Christian

She is Vince Mcmahon's sister-in-law No wonder she talks the way she does and doesn't want people to use FIRE That family is full of greed and only think about themselves Comment from : Demetrick Wright

Yuck!! So out of touch You're really missing the point here because you come from a vastly different world than most So you want people working, investing and saving until 60 just in case we have to look after our sick parents or 'fall through the ice' 🤣 Comment from : Kelly Bobir

A few of her comments tells me she doesn’t understand the FIRE movement and the calculations and safe withdraw amounts they do with cushion accounts of cash etc The videos I’ve watched are very detailed on the subject My concern about the FIRE movement like with many movements are on the extreme side and aren’t very tolerant for folks that try to take a blended approach Comment from : Andy Sams

Wow I just found the personification of stupid How has she sold one book $350,000 after taxes is required to retire? Comment from : Joe Kuhn

so the trinity study, diversification, sequence of return don't matter? which btw, is exactly what is taught in FIRE Comment from : JOSEPH Ruocco

I USED to pay attention to Suze this is nuts Comment from : JOSEPH Ruocco

She's just grasping because her financial advice is out of date she's like a prosperity preacher it will never be enough, for people like her Comment from : SOLIS OF SHADOWS SOS

Full of it 🤣🤣 Comment from : SOLIS OF SHADOWS SOS

80k is not enough?? Is this the retirement plan for the 1? Comment from : Natalie J

Many of her points are legit FIRE can be OK for normal circumstances, but there are risks involved All the private school crap is hogwash, however Locate in an area where they have good public schools, and there are many of them And there are many great public universities costing far less than 250K per year Comment from : Michael Swami

If I need over $25M for healthcare, stick a fork in me I'm done My job won't pay that either brOverall, she should be a supporter of the FIRE movement It's about saving, investing, financial independence and responsibility Doesn't really mean you just sit on the beach for the rest of their life Comment from : K-Jax

Certainty is the mother of fools Comment from : OshoRamseyGump

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