Though renters can’t build equity through their monthly payments, committing to a mortgage payment, property taxes, homeowners insurance, and consistent maintenance costs may not make sense for seniors living on a fixed income.

How much money do you need to retire with? Well, the answer is a bit different for each of us, but here's a shocker; noted financial guru Suze Orman has said that a $2 million nest egg is essentially chump change. "Two million is nothing. It's nothing. It's pennies in today's world, to tell you the truth."

It can pay some pretty sizeable dividends to listen to the voices of popular personal finance gurus like Dave Ramsey and Suze Orman. Indeed, for those looking to take command of their financial futures,

Americans planning for retirement tend to have some key concerns regarding ensuring a financially secure future that fits their notions of a desired lifestyle. Personal finance bestselling author Suze Orman offers some thoughts about these challenges,