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Yahoo
3 hours ago
- Business
- Yahoo
Suze Orman Was Asked Where's The Best Place To Invest $150,000 For Retirement — But She Warns That Question Could Get You Ripped Off
You come into a chunk of money — maybe it's a bonus, an inheritance, or finally cashing out of something that actually worked. You're feeling hopeful, maybe even a little proud, and you do what responsible people do: you start thinking about how to grow it for retirement. The logical next step? You walk into a financial advisor's office and ask, "What should I do with $150,000?" Big mistake, according to Suze Orman. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Hasbro, MGM, and Skechers trust this AI marketing firm — "This is a dangerous question," Orman warned during an episode of her podcast when a listener named Cheryl posed exactly that. "Let's say it wasn't me that you're writing into," she said. "Let's say you just came into $150,000 and you walk into some financial advisor's office... and the person says to you, 'What can I do for you?' And you say, 'I have $150,000. How should I invest it?'" That, Orman says, is how people get taken for a ride. "If they tell you immediately, 'Oh great. You should buy this. You should do an annuity, you should do that' — all things that probably will make that advisor a lot of money in commission — you are setting yourself up to really possibly be taken advantage of." Trending: Maximize saving for your retirement and cut down on taxes: . In other words, the problem isn't the question itself — it's how incomplete it is. Orman explained that before anyone gives you investment advice, they should know the full picture of your financial life. "You need to tell me... how old are you? Do you have any debt? Are you healthy? Do you own a home? Do you have a mortgage on that home? What is the interest rate on that mortgage? Is your job secure? Do you have a will? Do you have a trust? Do you need a new car?" Without that context, she says, "Never just ask anybody, 'What should I do with $150,000?'"Instead, she urges people to think about the basics first. If you have high-interest credit card debt? Pay it off. Still carrying a mortgage into your sixties? That might be the smarter use of your windfall. "Let's possibly pay off the mortgage on that home," she said. "Oh, you have $30,000 of credit card debt? Let's pay off the credit card debt. Oh, you need a new car? Whatever it may be." Orman's message isn't to scare people out of investing — it's to remind them that good advice is personal, and any one-size-fits-all answer is a red flag. So if you find yourself with a windfall to grow, take a breath before diving into stocks, annuities, or whatever hot thing your buddy at the gym swears by. Figure out your priorities. Ask the right questions. And make sure whoever you're asking takes the time to ask you a few back. Read Next:'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Suze Orman Was Asked Where's The Best Place To Invest $150,000 For Retirement — But She Warns That Question Could Get You Ripped Off originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
7 hours ago
- Business
- Yahoo
Suze Orman once warned 'no decision is bigger' in retirement than this Social Security move
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Popular finance personality Suze Orman says perhaps 'no decision is bigger' than deciding when to take your Social Security benefits. Soon-to-be retirees can start receiving their benefits as early as 62 if they so choose — but Orman advises that it's better to wait to max out your monthly checks and benefit your future older self in the long term. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) In a blog post titled Navigating When to Claim Social Security Orman wrote, 'remember... a woman who makes it to age 65 in average health has a 50% probability of still being alive at age 88. That's an argument for waiting if you expect to rely on Social Security for a lot of your retirement income.' In a related LinkedIn post, she said 'I encourage you to keep returning to this thought exercise: What are the financial steps you might take today to be kindest to your future older self? The 88-year-old, the 90-year-old, the 95-year-old?' Suze Orman regularly urges people approaching retirement to think deeply about the financial decisions that will benefit their future selves. Here are a few of her key points to consider. A study from life insurance company MassMutual found that 40% of Americans aged 55 to 65 believe Social Security will be their biggest source of income in retirement, ahead of 401(k) plans, investments, and pensions. Orman explains that for every month past your 62nd birthday that you don't claim Social Security, you'll snag a slightly larger payout when you do start receiving your benefits. For example, according to the Social Security Administration, folks born in 1960 or later whose full retirement age is 67 would see their benefits reduced by about 30% if they start claiming them at 62. Extending your retirement means you have more time to contribute to your retirement accounts. And Suze Orman has long touted Roth IRAs as an optimal retirement savings vehicle. But there are other IRAs you can consider. For instance, if you're optimizing for stability with your investments, gold is typically more stable than stocks during economic downturns and recessions. In fact, gold has increased in value sevenfold over the last 100 years Gold can't be printed out of thin air like fiat money, and its value is largely unaffected by economic events around the world. And because of the precious metal's safe-haven status, investors often rush toward it in times of crisis, making it an effective hedge. A gold IRA is one option for building up your retirement fund with an inflation-hedging asset. Opening a gold IRA with the help of industry leader Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA. Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver. If you're curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today. When it comes to preparing for retirement, having a solid financial plan is essential to make sure you can live out your golden years in peace. Whether you're focused on safeguarding your assets or diversifying your portfolio, working with a financial advisor can be a crucial step in securing your future. Finding a financial advisor that suits your specific needs and financial goals is simple with Vanguard. connects you with vetted fiduciary financial advisors near you. All you have to do is answer a few simple questions about your finances, and matches you with a short list of certified experts to choose from. You can then set up an introductory meeting with no obligation to hire. Read more: You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Orman encourages prospective retirees to consider waiting to optimize their benefits — but adds that they need to start planning and decide earlier rather than later. "This is not a decision you can just shelve until you are 61," Orman warned in her post. "If you haven't made plans to delay claiming your Social Security at that point, chances are you will just go ahead and start at 62." The other option is to tap into your retirement savings — but you must plan for a substantial nest egg long before you enter your golden years. And this also means planning to make sure your family is secure in the future, including when you pass away. For instance, life insurance can offer a versatile solution for your family, providing coverage to potentially replace lost income or settle outstanding debts. By opting for term life insurance through a provider like Ethos, you are helping to ensure that your family will be taken care of after you're gone. Term life insurance offers flexibility when you're seeking affordable coverage while balancing other financial responsibilities. Ethos offers an easy online process that allows you to get up to $2 million in coverage with terms ranging from 10 to 30 years. To get a free quote, all you have to do is answer a few questions about yourself. Then, you can compare coverage and choose the right policy that best suits your needs. Buying a property outright is a lot more difficult as mortgage rates continue to hover around the 7% mark and home prices remain high. Investing in shares of real estate can be another avenue to help you grow your nest egg and bolster your retirement savings. On a recent episode of her podcast, Suze Orman commented on the importance of understanding your real estate market. 'When it comes to real estate, you have to know more about it. You have to know about what real estate is doing in the area that you happen to live in,' she said. However, buying property is far from your only option when it comes to investing in real estate. One option for dipping your toes into residential investments is Arrived. You can tap into this market by investing in shares of vacation homes or rental properties through Arrived. Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property. To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends. For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
8 hours ago
- Business
- Yahoo
Social Security: 4 Steps To Take Now If You Want To Retire Before Age 67
If you're a younger worker, or know someone who is, early retirement may be part of the plan. After all, lots of workers now want to retire at 40, 50 or 60. Check Out: Read More: As you're probably aware, when it comes to Social Security, the full retirement age is 67 for those born in 1960 or later. As noted by AARP, the changes in age requirements come from legislation signed by President Ronald Reagan. When it comes to waiting, age can make a big difference in how much you'll qualify for when it comes to Social Security. If you want to retire before you reach 67, here's a look at some steps to take now. According to Ramsey Solutions, one of the first things you need to do is to determine your goals for early retirement. Those goals will help guide your plan and financial strategy. In addition, you can create a mock retirement budget. This will give you a better idea of how much money you'll need each month to make the early retirement dream a reality. Learn More: Healthcare and taxes are two areas you specifically need to consider as you plan for early retirement. You want to determine how you're going to pay for health care after you leave full-time work. In addition, per Fidelity, you should also look into withdrawal strategies to help reduce the effects of taxes on your finances in retirement. In this case, 'get to work' means figure out how you're going to achieve your retirement goals and then taking action. According to Ramsey Solutions, you need to figure out ways to get out of debt and invest consistently. You may consider investing in a bridge account and real estate to help fill in the gap between early retirement and when you're able to start taking out money from retirement accounts without penalty. A brokerage account is an example of a bridge option to help with that gap. You don't need to do all of this by yourself. You may find it helpful to meet regularly with a financial advisor. This professional can help you make decisions that'll take you in the direction of your goals for early retirement. You may also find it helpful to look at online resources and apps designed for personal finance. More From GOBankingRates 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on Social Security: 4 Steps To Take Now If You Want To Retire Before Age 67 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
Suze Orman once warned 'no decision is bigger' in retirement than this Social Security move
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Popular finance personality Suze Orman says perhaps 'no decision is bigger' than deciding when to take your Social Security benefits. Soon-to-be retirees can start receiving their benefits as early as 62 if they so choose — but Orman advises that it's better to wait to max out your monthly checks and benefit your future older self in the long term. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) In a blog post titled Navigating When to Claim Social Security Orman wrote, 'remember... a woman who makes it to age 65 in average health has a 50% probability of still being alive at age 88. That's an argument for waiting if you expect to rely on Social Security for a lot of your retirement income.' In a related LinkedIn post, she said 'I encourage you to keep returning to this thought exercise: What are the financial steps you might take today to be kindest to your future older self? The 88-year-old, the 90-year-old, the 95-year-old?' Suze Orman regularly urges people approaching retirement to think deeply about the financial decisions that will benefit their future selves. Here are a few of her key points to consider. A study from life insurance company MassMutual found that 40% of Americans aged 55 to 65 believe Social Security will be their biggest source of income in retirement, ahead of 401(k) plans, investments, and pensions. Orman explains that for every month past your 62nd birthday that you don't claim Social Security, you'll snag a slightly larger payout when you do start receiving your benefits. For example, according to the Social Security Administration, folks born in 1960 or later whose full retirement age is 67 would see their benefits reduced by about 30% if they start claiming them at 62. Extending your retirement means you have more time to contribute to your retirement accounts. And Suze Orman has long touted Roth IRAs as an optimal retirement savings vehicle. But there are other IRAs you can consider. For instance, if you're optimizing for stability with your investments, gold is typically more stable than stocks during economic downturns and recessions. In fact, gold has increased in value sevenfold over the last 100 years Gold can't be printed out of thin air like fiat money, and its value is largely unaffected by economic events around the world. And because of the precious metal's safe-haven status, investors often rush toward it in times of crisis, making it an effective hedge. A gold IRA is one option for building up your retirement fund with an inflation-hedging asset. Opening a gold IRA with the help of industry leader Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA. Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver. If you're curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today. When it comes to preparing for retirement, having a solid financial plan is essential to make sure you can live out your golden years in peace. Whether you're focused on safeguarding your assets or diversifying your portfolio, working with a financial advisor can be a crucial step in securing your future. Finding a financial advisor that suits your specific needs and financial goals is simple with Vanguard. connects you with vetted fiduciary financial advisors near you. All you have to do is answer a few simple questions about your finances, and matches you with a short list of certified experts to choose from. You can then set up an introductory meeting with no obligation to hire. Read more: You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Orman encourages prospective retirees to consider waiting to optimize their benefits — but adds that they need to start planning and decide earlier rather than later. "This is not a decision you can just shelve until you are 61," Orman warned in her post. "If you haven't made plans to delay claiming your Social Security at that point, chances are you will just go ahead and start at 62." The other option is to tap into your retirement savings — but you must plan for a substantial nest egg long before you enter your golden years. And this also means planning to make sure your family is secure in the future, including when you pass away. For instance, life insurance can offer a versatile solution for your family, providing coverage to potentially replace lost income or settle outstanding debts. By opting for term life insurance through a provider like Ethos, you are helping to ensure that your family will be taken care of after you're gone. Term life insurance offers flexibility when you're seeking affordable coverage while balancing other financial responsibilities. Ethos offers an easy online process that allows you to get up to $2 million in coverage with terms ranging from 10 to 30 years. To get a free quote, all you have to do is answer a few questions about yourself. Then, you can compare coverage and choose the right policy that best suits your needs. Buying a property outright is a lot more difficult as mortgage rates continue to hover around the 7% mark and home prices remain high. Investing in shares of real estate can be another avenue to help you grow your nest egg and bolster your retirement savings. On a recent episode of her podcast, Suze Orman commented on the importance of understanding your real estate market. 'When it comes to real estate, you have to know more about it. You have to know about what real estate is doing in the area that you happen to live in,' she said. However, buying property is far from your only option when it comes to investing in real estate. One option for dipping your toes into residential investments is Arrived. You can tap into this market by investing in shares of vacation homes or rental properties through Arrived. Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property. To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends. For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 hours ago
- Business
- Yahoo
Maryland's credit downgrade can be blamed on actions in Washington, not Annapolis
Maryland maintained a AAA bond rating from Fitch and Standard & Poor's, but was downgraded to Aa1 by Moody's. (Maryland Matters file photo) In his coverage of the downgrade of Maryland's credit rating by Moody's from the coveted AAA to AA1, Bryan Sears pointed to Moody's acknowledgement of Maryland's 'wealthy and diverse economy,' solid financial planning and proactive management by officials, including slowing expenditures and raising new funds. But the report also noted that Maryland was particularly vulnerable to 'shifting Federal policies and employment' in comparison to other states with triple-A ratings: Delaware, Florida, Georgia, Missouri, North Carolina, Ohio, South Dakota, Tennessee, Texas, Utah and Virginia. In plain-speak, Maryland's administration was well equipped to handle any organic financial issues arising from budgetary deficits, and/or ambitiously funded programs. But our reliance on federal jobs meant that no one could foresee or plan for such eventualities. Maryland Matters welcomes guest commentary submissions at editor@ We suggest a 750-word limit and reserve the right to edit or reject submissions. We do not accept columns that are endorsements of candidates, and no longer accept submissions from elected officials or political candidates. Opinion pieces must be signed by at least one individual using their real name. We do not accept columns signed by an organization. Commentary writers must include a short bio and a photo for their bylines. Views of writers are their own. Among all the states with a triple-A rating, Maryland's economy is the only one which is dominated by the government sector. Being a small state and adjacent to the nation's capital, Maryland's largest source of income is income tax. Almost one in 10 Maryland workers is a federal employee. The only variable NOT in control of the state administration is the employment of federal workers. It isn't hard to see the connection. Republican delegates and senators who tout Moody's warnings about Maryland's rating prior to this current federal administration taking charge are forgetting that the programs with high price tags, like the Blueprint for Maryland's Future, were hit because of the COVID-19 economy. We barely had time to come up to the surface to take a breath of air before being submerged again by this second Trump administration! The GOP needs to take a hard look at themselves, and their blind obeisance to the walking body of malfeasance they regard as their president. Here is the bottom line: Moody's downgraded Maryland's credit rating because, despite the Moore administration's best efforts, they could not fix the damage done by DOGE and their dismantling of federal government. Maryland, D.C. and Virginia have the maximum number of federal employees – both Maryland and D.C. had their ratings downgraded. Virginia is a much larger state and has other economic avenues to offset the loss of federal jobs, even though it, too, has taken a substantial hit to its economy. Blame, if it is to be assigned, lies with the Trump administration and its hatchet approach to federal infrastructure. Believe me, the damage goes far beyond a credit rating — the United States will be feeling the effects of this sabotage for decades to come. Fitch has since released its ratings on Maryland, and Standard & Poor's followed on Wednesday. Maryland continued to maintain a triple-A ratings with both firms. So let's all take a deep breath, and return to resisting the illegal and unconstitutional actions of this federal administration.
