Suze Orman: This is One of the Biggest Risks to Your Retirement Savings

Suze Orman emphasizes that planning for retirement must account for longevity, suggesting individuals should aim for their financial resources to last until at least age 95 or 100.

The stark reality is that while Americans believe they need approximately $1.46 million saved for retirement, the average American is only amassing about $88,000, highlighting the gap in retirement preparedness.

A concerning statistic from AARP reveals that 20% of adults over 50 lack retirement savings, with around half expressing fears that they won't have adequate funds for their retirement.

Financial advisors recommend that individuals need to start saving serious amounts early to leverage compound interest, with markers indicating savings of 10x income by age 67.

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