Suze Orman: 4 Tips To Protect Your Finances in Retirement
Written by
John Schmoll
Edited by
Cory Dudak
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Retirement is often viewed with anticipation for many Americans. The daily grind at the office is replaced with thoughts of travel or enjoying hobbies you rarely had time for in your working days.
Unfortunately, financial realities can make those wishes difficult to enjoy, especially in a time where the economy is fraught with uncertainty. In a recent article on her website, personal finance expert Suze Orman shared things retirees must do to protect their finances.
Here are four things Orman advised to safeguard your money in retirement.
Don’t Make Rash Decisions with Your Investment Portfolio
The stock market has been full of upheaval in 2025. A key driver to the chaos was President Trump’s Liberation Day for tariffs. The S&P 500, for example, was down nearly 19% from recent highs, representing a loss of over $9 trillion in market value, according to CNN.
Selling stock holdings during a pullback is understandable, but emotional decisions can betray long-term goals. “I hope you resisted any urge to sell stock holdings during the worst of the market declines earlier this year. Once you lock in lower values, you can’t easily make them up,” said Orman.
Locking in losses can be particularly troubling for retirees with limited means to recoup losses, especially for people on fixed incomes.
Reanalyze Your Portfolio
It’s easy for an investment portfolio to get unaligned during market upheaval. It’s best for retirees to review their portfolio at least annually, or when a position has a wild swing, according to Fidelity. Movement this year provides a good opportunity to do this.
“It’s also an opportunity to recalibrate your investment strategy,” noted Orman of the stock market in 2025. Retirees may want to decide if they need to make changes or change their overall approach to their portfolio.
“If you were anxious during the market sell-off in the first half of the year, now is a good time to think through whether it is indeed time to reduce your overall allocation to stocks,” added Orman. It’s often best to do this with a trusted financial advisor to ensure decisions are in your best interest.
Have Enough Cash on Hand
A common headwind many retirees face is not having a paycheck come in monthly. This makes having ample cash on hand necessary to face challenges like healthcare costs or other emergencies. Orman broke this down to two categories for retirees: living expenses and emergency funds.
Current market upswings may be a good time for retirees to make calculated sales to increase cash on hand. “If you are already retired, I hope you have at least two to three years of living costs in cash. That’s how you ride out the next wave of market volatility, and the one after that,” said Orman. This will help retirees avoid selling during future downturns.
That’s only half of the cash equation, though. “This cash is in addition to the eight months to one year of living costs you should have to cover emergency savings,” noted Orman. It’s best to house all of these funds in a high-yield savings account to maximize interest-earning possibilities.
Plan Filing for Social Security Benefits Wisely
Taking Social Security benefits as soon as possible is understandable, especially in light of concerns of insolvency. Receiving benefits early can be detrimental, though, as it can lead to receiving significantly less.
“At your full retirement age (age 67 for everyone born in 1960 or later) your benefit will be 30% larger than if you start at age 62. Moreover, if you wait all the way until you turn 70, your benefit will be 76% higher than if you start at age 62,” Orman said in a recent article on her website. Filing for Social Security benefits is a personal decision, so plan for when it’s best for you without hindering your long-term goals.
Protecting finances in retirement is of utmost importance. You don’t want to outlive your savings. Wise planning protects against that and avails retirees more opportunities to live the life they want.
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