According to financial planner Suze Orman, merely focusing on a dollar figure for retirement savings is misguided; true readiness comes from eliminating mandatory monthly bills before retiring.
Suze Orman emphasizes that living below your means and eliminating expenses such as mortgages, car loans, and credit card debts is crucial before retiring.
In her appearance on CNBC's 'Women and Money,' Orman insists that retirees must address budget-busting expenses, as failing to do so creates stress during their leisure years.
Retirement involves living on a fixed income, so Orman advises clearing all debts to maintain a comfortable lifestyle. Avoiding monthly payments will ensure financial stability.
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