'$2 Million Is Nothing...It's Pennies In Today's World'

00:00 Intro
01:07 $2 Million Is Nothing - Suze Orman
02:39 Net Worth By Age
02:55 Behind The Numbers
05:02 Disabilities
06:34 The Extreme
07:34 Traditional Retirement
08:37 Budgeting $2,000,000
10:51 The Motivation
11:52 Bloopers

Disclaimer: Please note that this video is made for entertainment purposes only and not to be taken as financial advice. Always make sure to do your own research.

Thanks for watching, I appreciate you!

[stemikger]

I'm a 60 year old man retired with 1.3 million and I live in Staten Island, New York. My number one advice to you is do not listen to Suze Orman. I'm having the time of my life

[Faben]

$100M? That is nothing in today’s world. What if your Gulfstream 3 needs a major overhaul or you need to upgrade to a newer jet? You’d be screwed!

[paulschulz]

If Suze thinks $2 million is worthless, I'd be happy to take it off her hands!

[Fscmco]

Good video, I retired at age 54 with 800k in retirement accounts.

I’m 78 today with most of the original amount.

[murraypassarieu]

People need to stop giving Suze oxygen. She’s unhelpful and if people ignore her she’ll go away.

[Qpitmaster]

She's worth $75M. Her perspective is naturally warped.

[moleahy]

A $2MM net worth puts you in the top 10% of the US so that is hardly pennies.

[jaynelson]

Suze Orman is nuts!! She also suggests we all work to 70. Fine for her and her occasional TV appearances but a bit more difficult for those of us making a living with our back.

[dforrest]

Giving up the healthiest years of your life by working until 70, or you have over $2 million, is not a good trade for most people who will be less active the older they get.

[pengmagno]

Been listening to Orman for close to 25 years, more so for entertainment value than sound financial advice. She used to cater to the little man with real world advice about real estate, debt and education. Nowadays it seems like she’s back with a whole different message and of course a much higher net worth. She used to end her show with “People first, then money, then things.” Looks like priorities have changed.

[tressalewis]

You are right, Erin. We need to be prepared. I had to retire early due to a progressing disability. Five years ago, I lost my ability to walk. We always think we will live a healthy life, especially if we eat healthy foods and get some exercise. But that is not always the case. We need to prepare for all possibilities. Thank you for the awareness that you bring.❤

[katana]

I retired 4 years ago with $1.1 million in the 401K. I get $2850 in SS, $1400 from a rental, paid off my house and have no debt. I've withdrawn $25K every six months since retirement. I still have a little over one million. The SS and rental pay all my monthly bills and use the 401K for vacations and large purchases. I don't spend like an idiot, a million is plenty.

[rbaker]

I used to believe in Suze Orman and I even read her books from the late 1990s/early 2000's. She's disappointed me in that she has fallen into the trap of some people who have grown wealthy and have been wealthy for a LONG time - she's lost touch with the realities people in the lower income classes deal with.

Suze, those of us who have been grinding it out day in and day out for many years can't wait until we're 70 to retire.

[dsvillalva]

Erin I love your advice. Not only is it intelligent but you deliver it with humility. You are an inspiration.

[glasshalffull]

Only 0.1 % of retirees have $5 million in their retirement account. Susie is off her rocker.

[spacecoastsurffishing]

My wife retired at 52 and I retired at 56. We had 2.3 million with 8/10 years to SS. Now at SS ages we have 3.2 million and have a retirement income of 150k per year! With free medical for life and we don't pay property taxes. I think she might be wrong about the retirement numbers!

[emilyL]

I like this content so much! It is funny that as a super savvy reached over 1M invested in late 30s, I found it rather frustrating that there’s always topics saying even with this much at 30s you will be doomed at retirement. Well, it is truly hilarious that most of people in US can’t even spend 500 dollars on emergency, yet they have high expectations on their retirement nest egg. They spend all they have for a car, a bag, a drink ware you name it, yet they cry out loud saying inflation kills them and now they think net worth over 2M is considered rich. I would say the only thing that is inflating is the compulsions of consumption.

[VictorAlves-pusq]

Quickly becoming one of my favorite finance channels on YouTube - right up there with the Money Guys and Caleb Hammer. Keep up the good work!

[rayanderson]

How out of touch Suze has become. She has quoted those numbers over the years. She is regrettably serious. By her definitions almost no one would even retire.

[JoeSmith-jdzg]

Ridiculous, if those expensive things happened, but you still have your $40K job, you are basically just as screwed.