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The thought of retirement may sound exhilarating. However, you need to get your finances in order so your golden years can shine bright.

Doing so can be a challenge, but Suze Orman has shared plenty of tips to help. Here’s a look at her top five tips to help retirees enjoy a long, healthy and financially secure retirement.

Withdraw No More Than 4% Your First Year

In your first year of retirement, it can be hard to know how to manage your money. In an article on Oprah.com, Orman wrote that you should plan to withdraw no more than 4% of your total retirement fund in year one.

This aligns with “the 4% rule,” that Investopedia refers to as a retirement planning guideline that says retirees should withdraw 4% of their retirement funds in their first year, adjusting for inflation each year thereafter.

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However, she actually believes you should be withdrawing less than 4% per year — if possible. In an interview with Moneywise, she called the 4% rule “dangerous” and said retirees should only withdraw 3% per year or less.

Orman said the more you avoid taking out of your account the better, because you never know when you’ll need that money in the future.

Get Educated

Even if you’ve done a good job saving, you might not have the right tools to make smart financial decisions in retirement, Orman wrote on her website. She said having a solid financial literacy is a must, because you need to be knowledgeable enough to make informed financial decisions.

Using that knowledge, in an interview with CNBC, she also emphasized the importance of knowing how to check your investment allocations.

Orman said you might make mistakes along the way, but becoming educated pays off. Investment mishaps might sound scary, but she said when it comes to your finances, the biggest mistakes you can make are the ones you’re completely unaware of.

Don’t Take Social Security Until You’re 70

If you’re already retired, under age 70 and haven’t started taking Social Security, keep waiting, Orman wrote in an AARP article. If you delay the start of your benefit until you’re 70, your monthly check will be higher.

For example, if you were born between 1943 and 1954, your full retirement age is 66, according to the Social Security Administration. If you were to start collecting your benefit at age 67, you’d get 108% of the month benefit, but this number rises to 132% if you wait until age 70.

Find Ways To Cut Costs

For most people, retirement isn’t the ideal time to start living large. In fact, Orman said it’s a good idea to live well below your means.

In her AARP article, she recommended taking steps like downsizing your home, getting rid of one car and looking for places to cut $5 to $10 from your budget. She said every cost-cutting measure you take now will add up.

Be Honest With Your Children

At this point, all of your kids are likely adults. This means you need to be honest with them about your financial situation, Orman wrote in her AARP article.

If money is too tight for you to live independently — at least while you’re continuing to save for retirement, if you’re still working — she suggested seeing if you could maybe live with one of them or if one of them could move in with you. In this scenario, you would all pitch in on costs, but cohabitating would reduce your total living expenses.

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