Are you behind on saving for retirement?
Catching up on savings gets harder as we age, and we also lose out on the power of compound interest.
Orman wrote that another solid retirement rule of thumb is to have 10x your current income saved by the time you are 67 years old. Following this, you should have 3x your income saved by age 40 and 6x by age 50.
American Hartford Gold can help you open a gold IRA to aid in securing your retirement fund.
Gold has long been touted as a safe haven asset during market uncertainty. Amid persistent inflation, gold prices have reached new heights, now standing at around $2,651 per ounce as of January 2025.
One of the country’s most trusted precious metals companies — with an A+ rating from the Better Business Bureau — American Hartford Gold has helped thousands of clients protect their retirement.
With live precious metals charts, the ability to compare gold prices with other markets, and an account representative who can answer your questions, you can feel confident that your retirement nest egg is growing the way it should.
Request their free investor guide to learn how this investment could help you secure your retirement. Plus, you can receive up to $15,000 in complimentary silver if you make a qualifying purchase.
Seek professional guidance for peace of mind
Retirees can also make the mistake of paying for withdrawals to access money during retirement, losing savings to costly tax deductions.
To keep more of your money in your investments, Orman has long touted the advantages of putting your money in Roth IRAs. Roth IRAs aren’t taxed when you make contributions, or when you withdraw, so they’re a popular retirement investment option.
If you think you are falling behind, you may want to seek expert guidance.
RothIRA.org provides personalized expert advice for anyone with a portfolio of $100K or more.
It’s a simple, straightforward process: Simply enter your information, and then you will be automatically matched with two or three advisors near you. From there, you can schedule screening calls for free with no obligation to hire and find the right fit for you.
Plus, all their advisors are pre-screened and licensed with SEC/FINRA, which can offer you peace of mind.
More ways to save during retirement
Suze Orman may not believe that a $2 million dollar retirement portfolio is enough to see you through your golden years, but there are still many methods to grow savings that can give retirees a comfortable cushion.
While Orman has faced significant backlash for her statements, with critics arguing that her figures are unattainable for most, the underlying principle she advocates is prudence.
In a recent LinkedIn post, Orman wrote, “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?”
For instance, she has always said you should try to pay off your home before you retire.
Whether that’s in the cards for you or not, striking while the real estate market is hot is another option for retirement-minded investors who are also looking for some passive income now and throughout their golden years.
Real estate for your retirement portfolio
For instance, companies like Arrived allow you to invest in shares of rental homes and vacation rentals without opening a new mortgage or taking on the responsibilities of property management.
With Arrived, you can browse a curated selection of homes, each vetted for their appreciation and income potential. Once you find a property you like, you can choose the number of shares you want to buy and start investing in real estate with as little as $100.
You can also use the power of the current real estate market to fund your retirement through your IRA. With First National Realty Partners (FNRP), accredited individual investors can allocate funds in their Roth IRA towards investments with FNRP, and receive tax-free payments and distributions that won’t be added to combined income calculations.
FNRP allows you to access institutional-quality commercial real estate investments — without the legwork of finding deals yourself. Their relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods, means their commercial real estate investments are likely to remain stable and desirable properties.
When you sign up with FNRP, you can engage with experts, explore available deals, and easily make an allocation in an all-in-one personalized portal.
