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When life takes an unexpected turn, financial decisions can feel overwhelming, especially during times of grief. On a recent episode of the “Women & Money” podcast, personal finance expert Suze Orman responded to a widow facing a difficult question: should she sell her cherished family home in order to stay financially afloat?
The listener, 71, wrote in to share that she had recently lost her husband, a physician, after 46 years of marriage. With his income gone, her finances look very different.
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Her current mortgage payment in West Los Angeles is about $7,100 per month. By contrast, her income — primarily from Social Security and unemployment benefits — totals roughly $4,000. To cover the gap, she has been dipping into her savings.
On top of the numbers, there's an emotional tie to the property. She and her late husband renovated the kitchen just five years ago. It has become the heart of her personal project: a cooking-focused Instagram page where she shares recipes inspired by her cultural background. That creative outlet, she explained, has been a source of healing.
Still, with her savings depleting quickly, she wondered whether it was time to sell.
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Orman's first piece of advice was clear: wait. She explained that after losing a loved one, it's important not to make major financial decisions for at least six months to a year — ideally, even longer.
“I don't think that you are quite ready to sell the house,” Orman said, emphasizing the importance of giving herself space to grieve and adjust. She suggested setting aside enough from savings to cover at least six more months in the home, even if that requires $40,000 to $100,000.
The goal, Orman explained, is to create stability during an unstable time. By maintaining her home and her cooking project, the widow could continue finding comfort while processing her loss.
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Orman also encouraged the listener to lean on her five adult children. She said the children will likely set up and help contribute financially to help their mother stay in the house.
