Suze Orman's Shockingly Simple Social Security and Retirement Tips Revealed

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Many American workers who want to understand how they can plan for their future benefits from Social Security usually start with this basic question: How should I begin?

Bestselling personal finance author and media figure Suze Orman gives insights into updated Social Security benefits for 2025, along with a clear list of actions individuals should undertake.

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By this point, Social Security recipients should have noticed a 2.5% boost in their monthly payments as part of the Cost of Living Adjustment (COLA) for 2025, which aims to address continuing inflation issues.

Related: Suze Orman alerts U.S. employees about potential changes in Social Security and 401(k)s

For individuals who haven't filed for Social Security benefits yet, Orman stresses that she doesn’t think the rise in Cost of Living Adjustment should prompt them to start claiming their benefits prematurely.

Postponing the filing for the first benefits claim by several years, or up until they turn 70, enables individuals to receive significantly higher amounts through their Social Security payouts. Moreover, after someone reaches 62, their account gets credited retrospectively with every annual cost-of-living adjustment (COLA) until they actually apply for benefits.

Other crucial aspects of retirement planning, as pointed out by Orman, should also be addressed. For this reason, she has created a retirement planning checklist designed to assist individuals in concentrating on several tasks they should begin tackling.

Suze Orman outlines additional retirement duties beyond just applying for Social Security.

Orman emphasizes that everyone who works, irrespective of their age, ought to start envisioning their future retirement objectives as early as possible.

As Orman pointed out, planning for retirement isn’t something that begins once you cease working; it should begin right away. The most effective method to approach retirement with assurance is by taking steps now, even while you're still employed.

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His checklist assists individuals in concentrating on crucial actions needed to establish a strong financial base, avoiding errors, and devising a strategy for lasting stability.

She penned that the sooner you begin, the more ready you will be to savor the retirement you truly deserve.

Related: Suze Orman alerts Social Security beneficiaries about an impending danger

Suze Orman’s checklist for being prepared for retirement

Here is Orman's list of key priorities for employees to consider when planning for their retirement:

  • Aim to achieve retirement without any debts.
  • Think about stashing funds in tax-exempt retirement options such as a Roth 401(k), Roth IRA, or an HSA.
  • Begin developing your strategy for continuing work until you reach 70 years old.
  • Ensure you assist your grown-up offspring in achieving financial self-sufficiency.
  • Think about eldercare choices for your parents that won’t jeopardize your financial stability in retirement.
  • Give precedence to funding your retirement instead of taking loans for your child’s education.
  • Examine your home: Will it remain secure and functional for a future version of yourself as you age?
  • Research long-term care insurance.

In her book, The Complete Retirement Handbook for Those Over 50 In the 2025 edition, Orman shares that her personal journey through various work-related struggles, debts, and financial hurdles motivated her to dedicate herself to ensuring that individuals planning for retirement can protect and maintain their savings effectively.

The aforementioned checklist serves as her guidance on how to start.

“As I pen this down now, I am 73 years old,” she explained. “I no longer doubt my ability to connect with individuals approaching retirement age since I also carry many years of professional experience with me. The phase when I cease working is not distant anymore.”

Orman indicates that her drive to assist individuals in achieving their retirement aspirations stems from her concentration on connecting her personal financial ambitions and wishes to those of others.

"As I've aged, I possess significant insight into the psychological and emotional pulls that come into play," she penned.

I feel deeply empathetic towards your aspirations, your anxieties, and your dreams for the future generations alongside you and those dear people walking at your side.

Related: Seasoned fund manager presents bold prediction for the S&P 500

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