# They Want to Retire in 12 Years & Have $38K Saved. Is It Too Late? Suze Orman Decides. | House Call

## Метаданные

- **Канал:** Suze Orman's Official Channel
- **YouTube:** https://www.youtube.com/watch?v=GFxZgPuROg4
- **Дата:** 01.05.2026
- **Длительность:** 11:22
- **Просмотры:** 36,912
- **Источник:** https://ekstraktznaniy.ru/video/50562

## Описание

When Personal Finance Expert Suze Orman makes a House Call with Tony and Joanna, she hears a question she knows all too well — do we live for today or save for tomorrow? At 46 and 48 with only $38K in retirement and 12 years until their goal, the answer could change everything.

📺 Original Air Date: 10/25/14  | The Suze Orman Show

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## Транскрипт

### Segment 1 (00:00 - 05:00) []

If you guys were in front of me, I would be shaking you. you so hard at because not as a smack down, but as a wake up. — Oh, no. — You have a net worth — Uh-uh. that is less than your age. I can't even really believe the one thing that I read. $6,500 bed? We bought a good quality product at a 0% interest for 3 years. Oh, so you do have debt. If you two do not wake up right here and right now, I am telling you are about to start living in your 50s and 60s and 70s a financial nightmare. Hi Suze, I'm Joanna. I'm 46 years old. I'm a night shift pediatric nurse with a home health company. I'm Tony. I'm 48 years old. I work for Lockheed Martin as a contractor. I also work a part-time job at Centennial Sportsplex in Nashville working at the ice rink so that my son and I can enjoy the great game of hockey. I always grab all the overtime I can get for fear of not having enough money. — We've made major decisions in our lives by flipping a coin such as buying three houses and two cars. This is our dream home because my lovely bride does not have to hear me play the drums. — We're centrally located to family who's scattered throughout the Southeast. We have no debt. — We have car loans and the house payment. That's it. There we go. We recently purchased a new bed for $6,500. This bed is quite nice. It has a massage feature. Good stuff. In the past we've always been really, really good at being able to make money, but as we're getting older, we can't keep up that pace anymore the way we used to. Suze, instead of flipping a coin, can you help us? Do we live life to the fullest now, or do we save for retirement and hope we have our health? What do we do? Hi, Tony and Joanna. First of all, welcome to the Suze Orman Show. Joanna, you wrote in, "I need you to tell me why at the age of 46 you say you want to stop working sooner than later. " Hi, Suze. Um we're getting older and we're not in great health. So, we have a goal to retire at 60. And so So, it's not like you want to retire tomorrow. 14 years from now and 12 years for Tony, correct? Right. Yes. And so, I just have to ask you, are you putting money away for your retirement so that can be a possibility? Not [clears throat] so much, no. Not so much. Tell everybody how much per month you are putting away for this retirement in 12 years. Oh, at the moment I'm not putting away anything. Right. Right now, I'm putting away about $300 a month for retirement. — Here's the problem. I have a 46-year-old and a 48-year-old, not in really good health. Look at that face you just make cuz you know where I'm going here. Joanna, here? We watch religiously. We know. You have a net worth less than your age. Oh, no. — a net worth Uh-uh. Again, you have a net worth of about $45,000 and you are 46 and 48. I need to see a net worth at these ages of about $500,000 for retirement really to be a reality. Here's what really upset me. I all of your paperwork. I mean, my desk, you should take a look at the desk. Usually, I have one piece of paper in front of me. I have all of your stuff spread out all over here cuz I can't even really believe the one thing that I read. Right? And the one thing that I read here is Tony, you have a question. And the question was this, "When do you stop working like a horse and take some time off? When do you stop saving and enjoy some of the money that you've made? " Tony, you never even started saving. That's true. Joanna, the two of you have a 14-year-old and you have $7,000 in an emergency fund. We do. Now, I know you're not worried about the 14-year-old because you say the 14-year-old will just have to pay the for a college on his own. I do. Yeah, but what if the two of you were killed in a car crash? Yeah. What happens to the kid? kid 3 years from now if you're killed in a car crash? Your term insurance expires in 2 years from now.

### Segment 2 (05:00 - 10:00) [5:00]

now. It does. — Yes, it does. All right. So, really, let's start over. What are you really asking me? Well, the reason I originally called the show was my mother lives in England. I'm an only child. And I do like to pay things off and do some savings. Obviously, not as much as I should. But she wanted me to meet her this year. And in my brain, I see the $3,000 to go meet her could pay off a bill. But in my heart, I see my 69-year-old mother who deserves to see her only child once a year. So, why can't she come see you? She can, but she can. Um we have a week that we can use off of work. And for her to fly out here for a week is kind of tough. We decided to meet in the middle, and we're going to go to the Dominican and meet her. It's cheaper. — You're going to Listen, if you guys were in front of me, I would be shaking you so hard at because not as a smack down, but as a wake up. If you two do not wake up right here and right now, I am telling you are about to start living in your 50s and 60s and 70s a financial nightmare, and there will be nobody that will be able to save you cuz there's no time to make it up. Well, I understand that. — if Tony dies tomorrow, what does your life look like? It's pretty pitiful. — Joanna, could you live on about $1,200 a month? No. All right. When you retire, and men, actuarially speaking, die before women do. Got that? Yeah. Tony most likely will die before you. Upon Tony's death, even if he leaves you 40% of his pension, after taxes and everything, you are destined to be living on about $1,200 $1,500 a month at most Yeah. — cuz you don't really have anything in retirement. No, I don't. — Tony, is that what you want for your wife? No, it is not. Then why aren't we doing something about it right now? We need to do something about it. You're absolutely right. So, the first thing you need to do is tell everybody and tell your mother that she is going to be coming to see you. taking the two of you out to eat. She is going to do all the stuff cuz you don't have a pot to pee in. I will tell her for sure. — going — stop spending money. You are not going to be buying things like a $6,500 bed that I see in this paperwork here. $6,500 bed? You are sleeping on essentially what you have in an emergency fund. Right. Why did you do that? You know, it was time for a new bed and we both suffer from back issues. So, we bought a good quality product at a 0% interest for 3 years. Oh, so you do have debt. You don't have credit card debt, but you have debt. We do. I'm paying it off. Yeah, but do you understand what I mean? — I do. You guys, no more vacations. No more thinking you can buy something. No more going out to eat. You have got to cut back so I can't even tell you. Do you both have retirement plans where you work? You do? I currently do. I have a I don't. Yeah. Yeah, and does your 401k match your contribution? Up to 4% and I am — Listen to me. You are going to go in first thing Monday morning and you are going to sign up for the match up to 4% of your pay. You're going to sign up for it and you're done. Right? And you, Joanna, are going to start to fund a Roth IRA to the max of almost $500 a month. Tony, you are also going to be funding a Roth to the max. So, I need you between the two of you to be putting about $1,000 into the Roth IRAs and you have the $1,000 to do so cuz when we went through your expenses, you have a $1,118 a month excess that you are just letting fly down the financial toilet. This is what breaks my heart. You've watched the Suze Orman Show for all these years. We do. You've listened to me every Saturday. I am sure every Saturday night you have said to yourself, "Can you believe them? Can you believe that? Did they do that? Oh my god. Thank god that's not us. " It's us. It's you so much I can't even tell you.

### Segment 3 (10:00 - 11:00) [10:00]

So, do you think I'm gone? — Do you see us if we do that what you've just recommended that we can recover and get into a good position? Yes, but only if you do it right here and right now. Otherwise, we do not have the time to be able to make up all of the money you're going to need. You do also need to though redo your term insurance policy. It should be for at least $500,000 on you, Tony. Also, — you need to have an insurance policy possibly on you just a little one just in case. And you need to do it if you can for 20 years from now cuz you've got to be able to cover the next 20 years before you really do retire. Tony, you are like on a battleship that's sinking. I know given that you've been in the Navy, you know how to steer that battleship, make it so it reaches its goal, but you have got to start being the captain of this ship. And my dear Joanna, you need to be his first mate like you have never been his first mate before. You've got that the two of you? We got it, Suze. — All right. Tell your mom when she comes to see you, I said hi.