Suze Orman says 2027 is the year to save harder — 3 big ‘curveballs’ are coming for your retirement plans

If you’re saving for retirement, you’re already a step ahead of many Americans.

About four in 10 Americans don’t have money invested in a retirement savings plan such as a 401(k), 403(b) or individual retirement account (IRA), according to Gallup.

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But personal finance expert Suze Orman argues that younger workers need to step up their savings in 2027. That means boosting your 401(k) savings by 1% or 2% in 2027, as well as maxing out Roth IRA contributions.

“Yes, I know paying today’s living costs is a challenge. Housing is expensive. And then there’s gas for those of you with long commutes, utilities and food,” she says in a blog.

But boosting your retirement savings will only get harder as you age, she says, including three “curveballs” that could derail your plans.

1. Caregiving duties

People are living longer. But older Americans are increasingly living with one or more chronic conditions. That means there’s a good chance that you’ll end up becoming a family caregiver at some point.

About two in five Americans (39%) are or have been caregivers, while 56% believe they will likely become caregivers, according to Northwestern Mutual’s 2026 Planning & Progress Study.

This can be both emotionally and financially draining.

A newly released study from AARP found that out-of-pocket costs for family caregivers has jumped almost 60% since 2021. They’re spending, on average, $11,508 a year, or about 31% of their annual household income.

And that’s just the average. The monthly median cost of assisted living in the U.S. is $6,200 (as of 2025), while a private room in a nursing home costs $10,798, according to CareScout.

Not only do family caregivers have fewer dollars to contribute to their own retirement savings, the AARP study found that almost two in three working caregivers (65%) “experienced at least one work-related disruption because of caregiving, including changing work hours, taking time off or taking on additional work.”

But pausing retirement contributions or withdrawing from savings to cover those expenses can compound over time.

“The caregiver may lose current savings, potential market growth, an employer match, and, in some cases, Social Security earnings,” writes Peter Richardson, vice-president of planning philosophy and thought leadership at Northwestern Mutual, in the study.

The Northwestern Mutual study also found that 21% of current and former caregivers ended up working longer hours, working a second job or taking on a side gig “to absorb the financial impact.”

That’s why Orman recommends saving more when you’re younger: “If you eventually need to step in and help a loved one, you will already be further ahead with your retirement savings.”

Read More: Vanguard reveals what’s coming for U.S. stocks — and it’s raising alarm bells for older investors

2. Supporting adult children

If you have kids, or plan to have them, you may end up supporting them financially longer than you expect — possibly at the same time you’re caring for aging parents.

Consider that nearly 1 in 3 young adults aged 25 to 34 lived with their parents in 2025, according to research from Realtor.com. And they’re not just playing video games in the basement.

Of young adults who live with their parents, about 70% are employed. “Something about their income level, debt load, or the cost of housing in their market is keeping them home despite steady employment,” Hannah Jones, senior economist at Realtor.com and author of the report, said in the article.

Even if they move out, more adult children are turning to their parents for financial support.

About seven in 10 parents (71%) have financially supported an adult child, according to a LendingTree survey. And in most cases, they’re helping to pay for general living expenses — from groceries and bills to rent, car payments and credit card debt.

This is despite two-thirds of parents (64%) feeling financially stressed as a result, with 11% saying it’s set back their retirement planning.

Supporting adult children means you may not be able to turbo-charge your retirement savings, even if your income grows.

As Orman points out, “curtailing your retirement savings in your 50s and 60s to help a grown child could absolutely put your retirement security at risk.”

3. Career uncertainty

Thanks to economic uncertainty and technological change, more Americans are worrying about job security.

“Concern that an economic slump, downturn or recession could result in being laid off, furloughed or losing a job within the next 12 months held steady at 44% of surveyed workers,” according to the American Psychological Association (APA)’s 2026 Work in America survey.

But almost one in three workers (32%) were concerned about losing their job in the next few weeks or months.

Not only can career uncertainty make it harder to meet financial milestones, like buying a house, but it can strain your finances in other ways. For example, your job is tied to health insurance and workplace retirement savings; it’s also used to calculate your Social Security benefits later in life.

Orman points out that “it has always been risky to assume you don’t need to save much when you are younger because you intend to have a long career with ever-rising income.”

Maybe you’ll have to leave the workforce earlier than planned because of a layoff, health issues or family caregiving duties.

“But what is very much in your control right now is committing to saving even more for retirement when you are young,” writes Orman.

How to boost your savings

While that might feel challenging — especially if you’re stretched thin — even small changes can make a difference.

For example, you can start by increasing your automatic retirement contributions by 1%. It’s a small amount that can add up over time (especially with compound growth), but it won’t have a huge impact on your immediate cash flow. If you get a raise, increase your contributions accordingly.

You could also audit your spending. Do you really need five streaming services? Maybe you could cancel one or two of them, and redirect those funds to a savings account.

If you receive extra money — whether it’s cash for your birthday, a tax refund or a work bonus — put a portion of that ‘found’ money into savings. If you have a 401(k) and your employer offers a retirement match, try to max it out so you’re not leaving “free” money on the table.

You might also want to consider opening a health savings account (HSA) if you’re eligible or purchasing long-term care insurance. A qualified financial advisor may also be able to help you structure your assets in a way that protects your financial security.

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This article originally appeared on Moneywise.com under the title: Suze Orman says 2027 is the year to save harder — 3 big ‘curveballs’ are coming for your retirement plans

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