How retirees can stay secure during market downturns

Suze Orman reveals essential strategies to safeguard your finances during market volatility

Transcript

00:00Well, you know, you should always, in your retirement accounts, especially when you are

00:05retired, you need to have three to five years of expenses in cash. So you need to total how much

00:15income do you know you have coming in with Social Security, whatever it may be, income from your

00:20stocks and everything, and how short are you of your actual expenses? Whatever that deficit is,

00:28and it might be the entire amount, that has to be in cash within your retirement account

00:34and a money market account because you do not want to be selling stock when the markets have

00:40gone down significantly just to pay your bills. So to buffer you from a really downward moving in

00:46the stock market, that's what you need to do. Why three to five years? Because it takes three years

00:52to five years from the top of the market to the bottom on the market back up to the top again.

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