The shelf · Ageing alone
Does The Ultimate Retirement Guide for 50+ hold up?
The Ultimate Retirement Guide for 50+: Winning Strategies to Make Your Money Last a Lifetime, by Suze Orman (2020)
Retirement-income advice for people over 50 on Social Security timing, withdrawals, housing, debt and family money.
The short answer
Cautious, and sound for the most part. Its withdrawal rule is more cautious than Morningstar's base case, which suits a longer retirement.
The claims, checked
Withdraw no more than 3% of your savings in the first year of retirement.
Holds with conditions Morningstar's base case is 3.9% for a 30-year retirement with a 90% chance the money lasts; its estimate has moved between 3.3% and 4% in recent years. 3% suits a longer horizon or a wish for more certainty.
Evidence: MoneyWeek, on Morningstar research
Delay Social Security to 70, which pays the highest benefit.
Holds with conditions With a full retirement age of 67, claiming at 62 pays about 70% of the full benefit and at 70 pays 124%. Whether it pays off depends on health and lifespan.
Evidence: Social Security Administration