Suze Orman Says $2M Is ‘Pennies’ Today and That You’ll Likely Need $10M to Retire Without Touching Principal Or ‘Burn Up Alive’

A financial guru walks into a podcast and declares that $2 million is worthless.

That wasn’t the setup to a bad finance joke—it was the very real opinion of personal finance expert Suze Orman. 

During a 2018 appearance on the “Afford Anything” podcast, Orman didn’t tiptoe around the question of early retirement or what she thought of people planning to live off modest nest eggs. When asked how much someone would need to feel financially safe—say, if they got hit by a bus tomorrow—her answer was immediate.

“The answer is not just accumulating $2 million. Two million is nothing. It’s nothing. It’s pennies in today’s world, to tell you the truth.”

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Suze Orman tied her view of $2 million directly to what happens when life does not cooperate. “If you only have a few hundred thousand, or a million, or $2 million dollars, I’m here to tell you…if a catastrophe happens, if something happens, what are you going to do?” she said on the podcast. Her answer was unambiguous. “You are going to burn up alive.”

The $10 Million Safety Net

A lot of people think that once they hit $2 million, they’re set. Considering how few ever make it to even $1 million, that number feels like crossing the finish line. But Suze Orman wasn’t calling $2 million “pennies” just to stir things up—she meant it. And she backed it with the math.

Her reasoning? The cost of aging. Health care. Taxes. Inflation. And all the other expenses people forget to plug into their retirement spreadsheets.

“You need at least $5 million, $6 million… really you might need $10 million,” she said, noting that only that level of wealth could safely generate a livable income without dipping into principal.

To keep pace with potential expenses—like $30,000 a month in full-time care, which she said she personally paid for her mother—you’d need an after-tax yield of $300,000 per year. That’s not coming from a $2 million portfolio unless you’re playing with risk she wouldn’t recommend.

Pennies Then, Even Pennier Now

The podcast aired in 2018. Fast-forward to now, and those pennies have shrunk dramatically. Inflation has eroded the purchasing power so that $2 million from 2018 would require roughly $2.6 million today to buy the same things. But here’s the irony—literal pennies aren’t even being made anymore. 

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What She’s Really Saying

Orman’s message wasn’t that everyone needs to become a deca-millionaire overnight. It was that too many people underestimate the cost of getting older—and overestimate how far their money will stretch.

She told listeners that she’s seen too many people retire at 50, only to call her in their 70s in financial distress. Medical expenses, family emergencies, home repairs, and market downturns don’t care how well you planned.

“You better have enough money if you never can work again, that you can support yourself no matter what happens,” she warned on the podcast.

But Can Some People Retire on Less?

Yes—if everything goes exactly right. If you own your home outright, have no major health issues, live modestly, and avoid economic surprises, it’s possible to live on a much smaller number. Orman herself noted that people with lower incomes often retire better than high earners—because they live within their means and stay out of debt.

It’s not about chasing the highest number possible. It’s about knowing what number fits your real life—and what risks you’re willing to take if things go sideways.

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So How Much Do You Need?

That depends entirely on you. Your spending habits, your family situation, your health, your location—it all adds up. Some financial personalities will say $500,000 is enough. Others won’t blink until they see eight figures.

Orman’s take is clear: prepare for the worst, and if nothing bad happens, great. But if it does, you’ll be glad you planned for it.

If you’re not sure whether your number is “enough” for a 30-year retirement—or whether it would still be enough if your income vanished tomorrow—consider speaking with a licensed financial advisor. Whether your goal is $500,000 or $10 million, having a plan built around your reality is what actually matters.

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