Monday, December 29, 2014
Suze Orman says Student loan debt is dangerous
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, December 22, 2014
Suze Orman tips on Money Savings
Money you know you need or want to spend in the next few years is savings.
Money you keep handy for an emergency belongs in savings.
Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, December 1, 2014
Suze Orman working on New TV Show and ending her current one
Suze Orman after 14 years of doing "The Suze Orman Show" every Saturday on CNBC is ending her current show on March 2015.
Suze Orman is now working on a show about money-related fights among family and friends. The new show, titled "Money Wars," will run five days a week and be produced by Telepictures, a unit of Warner Bros. Studios also known for producing "The Ellen Degeneres Show."
Orman's current CNBC show has been a big success and has reached 3 million viewers every week. She'll be leaving on a high note, as the longest-tenured program host in the network's history.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, November 24, 2014
Suze Orman thinks women could learn from Teresa Giudice mistake
Teresa Guidice and her husband, Joe, were sentenced to the big house last month after a federal judge in New Jersey found “inconsistencies and omissions” in their financial dealings and tax filings, which were largely handled by Joe. Teresa was sentenced to 15 months in prison, and Joe got 41.
It’s a prime example for women, that if they don’t think the behaviors of somebody that they are involved with financially speaking is going to affect them, I’m here to tell them they’d better watch what’s happening.
I wouldn’t give them any other advice because they are going to have to deal with it. They get caught up in a spending cycle because they want everyone to think they are more than they are. Oh, they are going to learn how to disassociate from it very quickly in Jail.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
It’s a prime example for women, that if they don’t think the behaviors of somebody that they are involved with financially speaking is going to affect them, I’m here to tell them they’d better watch what’s happening.
I wouldn’t give them any other advice because they are going to have to deal with it. They get caught up in a spending cycle because they want everyone to think they are more than they are. Oh, they are going to learn how to disassociate from it very quickly in Jail.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Wednesday, November 19, 2014
Credit card rates to go higher next year according to Suze orman
Next year [2015] could be even more expensive for anyone carrying credit card debt.As you better know by now, the interest you are charged on an unpaid credit card balance is tied to any movement in whatever benchmark index or rate the card issuer uses. Many credit cards use the prime rate (the lowest rate of interest at which banks lend money) as their benchmark. Since December 2008, the prime rate has been stuck at 3.25 percent.
That's all about to change.
What you need to understand is that the prime rate is itself tied to the federal funds rate. That's the interest rate controlled by the Federal Reserve and, if you've been following things lately, you know the expectation is that—for the first time since the financial crisis—the Federal Reserve will raise the federal funds rate in 2015. Not a lot, but it will go up.
My friends, when that happens, the prime rate will rise too, and that will trigger increases in the interest charged on credit card balances.
As part of its work checking on the health of our big banks post-crisis, the Federal Reserve issues a periodic stress test of banks' financial health. As part of that stress test the Fed has to make some interest rate and economic assumptions about what may happen in the future. In its most recent "baseline" scenario—that is, if things go as expected with no big shocks to the system—the Fed expects the prime rate to rise to 4 percent by the end of 2015, and estimates it could reach 5.4 percent by the end of 2016. That guarantees the interest rate on your credit card debt is heading higher.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, November 17, 2014
Suze Orman does not like credit card debt
You know how much I hate credit card debt, given the astronomical interest rates you are stuck paying. Although the average is around 14 percent, I know plenty of you pay more than 20 percent interest.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, November 3, 2014
Suze Orman praises Tim Cook for being open
He's going to feel more powerful,' she predicts. 'A more powerful person is a better leader, a better leader makes a better company, and I hope it shows up one day in Apple's performance.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, October 20, 2014
Suze Orman on Satya Nadella of Microsoft
I am a big believer in karma. But to suggest that good karma should be the lynchpin of managing your career is not just wrong, but dangerous.
Yet that's what Satya Nadella, the chief executive officer of Microsoft offered up as advice to working women at a recent women's conference: "It's not really about asking for the raise, but knowing and having faith that the system will actually give you the right raises as you go along," Nadella said. "That's good karma. It will come back. That's the kind of person that I want to trust, that I want to give more responsibility to."
I couldn't disagree more. Yet in a perverse way I am glad Mr. Nadella brought this issue into the spotlight. That the chief executive of the 34th largest company in the Fortune 500—with profits of nearly $22 billion on revenue of more than $78 billion—said this should be a wake-up call to every woman. This was not some outlier start-up entrepreneur looking to provoke.
What would Nadella's daughters say?
Yes, Mr. Nadella backtracked as quickly as the backlash began, but it would be wise for every woman to take Mr. Nadella at his original word. The fact is, whether an explicit strategy or implicit assumption, management preys on women's propensity to not negotiate, to be consummate team players, to be passive.
One telling academic study reported women equate a salary negotiation on par with the uncomfortable—and sometimes painful—experience of a trip to the dentist. In the same study, men viewed salary negotiation as a game to be won. Okay, so it's not typically in our DNA. That just means having to make a conscious effort to override what may not come naturally.
To suggest that good karma is all women need only fuels this dangerous mindset. It plays into what I see so many women hope to be true: that their good nature, get-along, consensus-building nature will be rewarded without asking. That's naïve. We're still dealing with a gender pay gap across diverse professions that often has women working at a discount of 20 percent to 30 percent less than what their male colleagues earn.
Read MoreRent or buy these big-ticket items
So much for karma as a negotiating tool.
Mr. Nadella has since communicated to Microsoft employees that he got it wrong. His advice: "If you think you deserve a raise, you should just ask." In a vacuum, that advice is fine. Rather than wait for karma to get your manager to acknowledge your contributions and value, be proactive. The problem in all too many offices is that being your own best advocate often gets women labeled as agitators or pushy. Or, yes, bossy.
And then there's the art of asking; something women also tend to struggle with. "Can I have a raise?" or "I deserve a raise" or "I am overdue for a raise," is not the way to go. Where's the power in that? Ask for a meeting to discuss your compensation; get it on the schedule. This is not some "oh, by the way" item you mention at the end of a meeting. In advance of the meeting, prepare a one-page list of what you have accomplished. Be as specific as possible. Run through the deliverables you nailed and goals you met (and exceeded). Then in the meeting, you do not ask for a raise. You state your case: "I deserve a raise of at least X." The phrase "at least" is crucial. You have just set expectations and your floor. You are negotiating from a position of confidence and power. That is going to pay off.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Yet that's what Satya Nadella, the chief executive officer of Microsoft offered up as advice to working women at a recent women's conference: "It's not really about asking for the raise, but knowing and having faith that the system will actually give you the right raises as you go along," Nadella said. "That's good karma. It will come back. That's the kind of person that I want to trust, that I want to give more responsibility to."
I couldn't disagree more. Yet in a perverse way I am glad Mr. Nadella brought this issue into the spotlight. That the chief executive of the 34th largest company in the Fortune 500—with profits of nearly $22 billion on revenue of more than $78 billion—said this should be a wake-up call to every woman. This was not some outlier start-up entrepreneur looking to provoke.
What would Nadella's daughters say?
Yes, Mr. Nadella backtracked as quickly as the backlash began, but it would be wise for every woman to take Mr. Nadella at his original word. The fact is, whether an explicit strategy or implicit assumption, management preys on women's propensity to not negotiate, to be consummate team players, to be passive.
One telling academic study reported women equate a salary negotiation on par with the uncomfortable—and sometimes painful—experience of a trip to the dentist. In the same study, men viewed salary negotiation as a game to be won. Okay, so it's not typically in our DNA. That just means having to make a conscious effort to override what may not come naturally.
To suggest that good karma is all women need only fuels this dangerous mindset. It plays into what I see so many women hope to be true: that their good nature, get-along, consensus-building nature will be rewarded without asking. That's naïve. We're still dealing with a gender pay gap across diverse professions that often has women working at a discount of 20 percent to 30 percent less than what their male colleagues earn.
Read MoreRent or buy these big-ticket items
So much for karma as a negotiating tool.
Mr. Nadella has since communicated to Microsoft employees that he got it wrong. His advice: "If you think you deserve a raise, you should just ask." In a vacuum, that advice is fine. Rather than wait for karma to get your manager to acknowledge your contributions and value, be proactive. The problem in all too many offices is that being your own best advocate often gets women labeled as agitators or pushy. Or, yes, bossy.
And then there's the art of asking; something women also tend to struggle with. "Can I have a raise?" or "I deserve a raise" or "I am overdue for a raise," is not the way to go. Where's the power in that? Ask for a meeting to discuss your compensation; get it on the schedule. This is not some "oh, by the way" item you mention at the end of a meeting. In advance of the meeting, prepare a one-page list of what you have accomplished. Be as specific as possible. Run through the deliverables you nailed and goals you met (and exceeded). Then in the meeting, you do not ask for a raise. You state your case: "I deserve a raise of at least X." The phrase "at least" is crucial. You have just set expectations and your floor. You are negotiating from a position of confidence and power. That is going to pay off.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, September 15, 2014
Suze Orman advise on retirement [VIDEO]
Suze Orman on NBC interview September 2014
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, September 1, 2014
Suze Orman nominates Kathy Griffin to do ALS ice bucket challenge
53-year-old comedian, Kathy Griffin, took the ALS Ice Bucket Challenge not in a bikini or sweatpants, but with nothing- only her red high heels. She takes the challenge completely naked as she called it “taking it up a notch”.
When asked why she did it nude, Griffin made it clear that she was nominated by Suze Orman who told her to do the challenge on full commando.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
When asked why she did it nude, Griffin made it clear that she was nominated by Suze Orman who told her to do the challenge on full commando.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Tuesday, August 19, 2014
Suze Orman was once living in her Van
The well-spoken writer, TV personality and Emmy-winning financial adviser, who has published numerous New York Times bestsellers, could not afford to move out of her van when she first moved to Berkeley, California, in the 1970s.
Today Suze Orman is worth an estimated $35 million.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Today Suze Orman is worth an estimated $35 million.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, July 28, 2014
Suze Orman Quote on women and men
Women fake orgasms and men fake finances.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, June 23, 2014
Suze Orman loves Elizabeth Warren for president
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Thursday, June 19, 2014
Suze Orman news on Prepaid debit card
Starting July 1, 2014, Suze Orman and Magic Johnson’s Approved card, a prepaid debit card aimed at budget-challenged consumers, will no longer work, according to a letter from Bancorp Bank, her partner on the product.
Bancorp is encouraging cardholders to spend all the money on their cards before that date. After that, it will send checks to people for any remaining balances. It is unclear exactly why Ms. Orman’s venture is ending.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Bancorp is encouraging cardholders to spend all the money on their cards before that date. After that, it will send checks to people for any remaining balances. It is unclear exactly why Ms. Orman’s venture is ending.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Tuesday, June 3, 2014
How to explain your children you cannot afford to help financially
Q. How do I explain to my 24-year-old son that I cannot co-sign a car loan, and it’s not a personal issue, but a monetary issue? I am tired of hearing his, ‘You don’t want to help me, Mom!”
A. You have to tell your son that you don’t want to sign, not that you can’t. I couldn't be more against the idea of co-signing a loan because when you do, you become the one responsible for that loan. Most of the time when you are asked to co-sign, it’s because the other person can’t qualify on their own. If they can’t qualify on their own, you’re going to get stuck.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
A. You have to tell your son that you don’t want to sign, not that you can’t. I couldn't be more against the idea of co-signing a loan because when you do, you become the one responsible for that loan. Most of the time when you are asked to co-sign, it’s because the other person can’t qualify on their own. If they can’t qualify on their own, you’re going to get stuck.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Thursday, May 29, 2014
Suze Orman calculates if you can afford to raise a baby
Q. We’re expecting our first child this fall. How do we start planning a budget for our bigger family, while still paying off debt and the possibility of one of us not returning to work once the baby is born?
A. Let’s play baby. The average cost of having a baby today is about $1,300 a month. So let’s pretend you have already had a baby to see if you can afford to quit your job. Take 100 percent of the mom's salary and put it in the bank. Then take $1,300-$1,500 a month from the dad's salary and put that in the bank. If you can make it on what's left over from the father's salary, you know you can afford a baby without the mom having to return to work.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
A. Let’s play baby. The average cost of having a baby today is about $1,300 a month. So let’s pretend you have already had a baby to see if you can afford to quit your job. Take 100 percent of the mom's salary and put it in the bank. Then take $1,300-$1,500 a month from the dad's salary and put that in the bank. If you can make it on what's left over from the father's salary, you know you can afford a baby without the mom having to return to work.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Tuesday, May 27, 2014
Should parents pay for son's college
Q. We have one son in college, another about to go to school and a third hoping to attend law school. We also have an 80-year-old parent living with us. What is our financial obligation to our family members, especially while we’re both already working multiple jobs?
A. Why do you feel that you need to be obligated to pay for your children? We make it when we have to do it on our own. As far as your father goes, it’s an honor to take care of your parents, but kids? This isn’t about desire to help, it's about guilt. Say ‘no’ out of of love for yourself, versus ‘yes’ out of fear that they won’t love you.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
A. Why do you feel that you need to be obligated to pay for your children? We make it when we have to do it on our own. As far as your father goes, it’s an honor to take care of your parents, but kids? This isn’t about desire to help, it's about guilt. Say ‘no’ out of of love for yourself, versus ‘yes’ out of fear that they won’t love you.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Thursday, May 22, 2014
Married couple asks Suze for join credit score advice
Q. I’m getting married in a couple of months. What is the best way to combine our accounts and credit cards without hurting our credit score?
A. Combining your savings isn’t what’s going to hurt your credit score. What hurts your credit score is if you pay your bills late or if you spend too much on credit in comparison to what you have. The best way to save your FICO score is to pay your bills on time, don’t charge those credit cards and don’t worry about the rest in terms of savings. The real question is: Do you have a prenup? You should get a prenup when you're in a state of love, not when you're in a state of hate.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
A. Combining your savings isn’t what’s going to hurt your credit score. What hurts your credit score is if you pay your bills late or if you spend too much on credit in comparison to what you have. The best way to save your FICO score is to pay your bills on time, don’t charge those credit cards and don’t worry about the rest in terms of savings. The real question is: Do you have a prenup? You should get a prenup when you're in a state of love, not when you're in a state of hate.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Tuesday, May 20, 2014
Suze Orman: Student loans cannot be discharged
Q. My husband and I just bought a home and still have car and student loan payments. We want to start a college fund for my son, but should we wait until our student loans are paid off to start doing so?
A. Student loans are not dischargeable in bankruptcy, so I would not be starting right now until the student loans are under control.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
A. Student loans are not dischargeable in bankruptcy, so I would not be starting right now until the student loans are under control.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Friday, May 16, 2014
Should college student contribute to retirement plan
A. It’s never too soon. If you put $2,000 into a Roth IRA at 8 percent interest today, you will have $94,000 in 40 years. If you put $2,000 per year into a Roth IRA, you can have more than $1 million in 50 years.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Wednesday, May 14, 2014
Suze Orman on Today show NBC: Prepare for retirement
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, May 5, 2014
The american dream is not necessarily owning a home
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Wednesday, April 30, 2014
Suze Orman on financial literacy
Watch the above video on Suze Orman on why you getting the right and proper financial advice.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Thursday, April 24, 2014
Tough love to kids
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Wednesday, March 26, 2014
Talk on student debt
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, March 24, 2014
Financial freedom lessens Worry
A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, March 3, 2014
Suze Orman rules for Cars
Suze's road rules for your personal vehicle are:
— Never finance a car for more than three years
— Never lease a car
— Keep your car for at least 10 to 15 years
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
— Never finance a car for more than three years
— Never lease a car
— Keep your car for at least 10 to 15 years
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Tuesday, February 25, 2014
Suze Orman: everyone needs a revocable trust
In response to several emails and tweets asking why a trust is so mandatory, Orman spells it out. "A living revocable trust serves as far more than just where assets are to go upon your death and it does that in an efficient way," she said. Unlike a will, a living trust also covers you while you are still alive, Orman noted.
You must think about what If something happens and you become ill and incapacitated. "Who is going to take care of you and pay your bills?" Orman asked. A key difference between a will and a living revocable trust is that the living trust has an incapacity clause that states who you want to sign for your affairs in the event you are unable to do so for yourself.
Be mindful of the key difference between a revocable trust and an irrevocable trust. An irrevocable trust cannot be modified or terminated without permission of the beneficiary. "Once the grantor transfers the assets into the irrevocable trust, he or she removes all rights of ownership to the trust and assets," Orman explained.
via- http://www.suzeorman.com/blog/why-everyone-needs-a-living-revocable-trust/
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
You must think about what If something happens and you become ill and incapacitated. "Who is going to take care of you and pay your bills?" Orman asked. A key difference between a will and a living revocable trust is that the living trust has an incapacity clause that states who you want to sign for your affairs in the event you are unable to do so for yourself.
Be mindful of the key difference between a revocable trust and an irrevocable trust. An irrevocable trust cannot be modified or terminated without permission of the beneficiary. "Once the grantor transfers the assets into the irrevocable trust, he or she removes all rights of ownership to the trust and assets," Orman explained.
via- http://www.suzeorman.com/blog/why-everyone-needs-a-living-revocable-trust/
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Thursday, February 20, 2014
Home loan Fixed vs Variable
Don't: Fall for teaser and variable rates.
Some credit card companies lure you in with a rate of 0 percent but raise it to 18 percent after the initial promotional period. Adjustable-rate mortgages that started at 2 percent or lower in 2005 have reset at much higher rates, sending thousands of people into foreclosure. And that private college loan that started at 10 percent? It could climb to 15 percent or higher if it's tied to an index that rises. The bottom line: If the interest rate isn't permanent, you could get taken for a ride.
Do: Stick with a 30-year fixed-rate home mortgage
...(average is currently 5 percent), avoid credit card promotions altogether, and, as much as possible, steer clear of private college loans—again, Stafford and PLUS loans are the way to go.
Read more: http://www.oprah.com/money/Making-Deals-Suze-Orman-Financial-Advice/2#ixzz2sEHfj0kR
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Some credit card companies lure you in with a rate of 0 percent but raise it to 18 percent after the initial promotional period. Adjustable-rate mortgages that started at 2 percent or lower in 2005 have reset at much higher rates, sending thousands of people into foreclosure. And that private college loan that started at 10 percent? It could climb to 15 percent or higher if it's tied to an index that rises. The bottom line: If the interest rate isn't permanent, you could get taken for a ride.
Do: Stick with a 30-year fixed-rate home mortgage
...(average is currently 5 percent), avoid credit card promotions altogether, and, as much as possible, steer clear of private college loans—again, Stafford and PLUS loans are the way to go.
Read more: http://www.oprah.com/money/Making-Deals-Suze-Orman-Financial-Advice/2#ixzz2sEHfj0kR
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, February 17, 2014
Suze Orman: Positives of bankruptcy
Bankruptcy rates spiked during the 2008 recession and many were pretty judgmental toward the millions who couldn't afford to pay their bills. But Suze Orman says bankruptcy is the better option over burying your head in the sand. "When somebody really doesn't have money to pay their bills then they should claim bankruptcy and face it right on and start all over again," says Orman.
Many people heeded this advice over the past five years. In 2008, bankruptcy filings jumped 32 percent to 1.1 million and in 2012 the filings jumped to 1.3 million. However, in June 2013, the U.S. courts reported filings closer to the early recession era at around 1.1 million.
Record-breaking filings have some at odds with Orman's advice. "Many gripe when I tell someone to claim bankruptcy," says Orman. "But what if you've got all this credit card debt, mortgage debt and car loans, and you just stop paying all these things because you just don't have the money?" asks Orman of her naysayers.
via - http://www.suzeorman.com/blog/the-good-thing-about-bankruptcy/
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Many people heeded this advice over the past five years. In 2008, bankruptcy filings jumped 32 percent to 1.1 million and in 2012 the filings jumped to 1.3 million. However, in June 2013, the U.S. courts reported filings closer to the early recession era at around 1.1 million.
Record-breaking filings have some at odds with Orman's advice. "Many gripe when I tell someone to claim bankruptcy," says Orman. "But what if you've got all this credit card debt, mortgage debt and car loans, and you just stop paying all these things because you just don't have the money?" asks Orman of her naysayers.
via - http://www.suzeorman.com/blog/the-good-thing-about-bankruptcy/
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Thursday, February 13, 2014
Keep clean and be organized
Financial guru, Suze Orman talks about keeping your wallet clean and tidy to respect your money and welcome abundance. The same follows suit in your professional life. Clear away the obstacles and make room -- emotionally and physically -- for the new possibilities.
Monday, February 10, 2014
Suze Orman on Debt Settlements
Don't: Use a debt settlement firm.
Those TV ads that promise to negotiate a deal with your creditors so you pay only a fraction of the bill can be enticing—but you should change the channel, and quick. According to the National Foundation for Credit Counseling, debt settlement firms typically charge fees between 13 and 20 percent of your total debt, or a cut of the total debt reduction plus a hefty monthly fee of $50 or more. Not to mention that many of these companies are far from squeaky-clean—several simply collect your fees without doing much at all to improve your situation, and the Federal Trade Commission has numerous cases pending against the worst offenders. Furthermore, even if you are able to negotiate a lower payment, you will likely owe federal tax on the amount forgiven (the IRS considers it income), and a settlement will hurt your credit score.
Do: The negotiating for yourself.
If you're unable to make your payments, call your creditors. They would rather get something than nothing from you, and they're just as willing to deal with you as they are with a debt settlement company. Asking to settle your bill for less than the full balance will work only if you have enough funds to make a lump-sum offer—you'll need to bring cash to the table. And remember that if they accept, there could still be a tax bill coming your way.
Read more: http://www.oprah.com/money/Making-Deals-Suze-Orman-Financial-Advice/2#ixzz2sEHEWT2a
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Those TV ads that promise to negotiate a deal with your creditors so you pay only a fraction of the bill can be enticing—but you should change the channel, and quick. According to the National Foundation for Credit Counseling, debt settlement firms typically charge fees between 13 and 20 percent of your total debt, or a cut of the total debt reduction plus a hefty monthly fee of $50 or more. Not to mention that many of these companies are far from squeaky-clean—several simply collect your fees without doing much at all to improve your situation, and the Federal Trade Commission has numerous cases pending against the worst offenders. Furthermore, even if you are able to negotiate a lower payment, you will likely owe federal tax on the amount forgiven (the IRS considers it income), and a settlement will hurt your credit score.
Do: The negotiating for yourself.
If you're unable to make your payments, call your creditors. They would rather get something than nothing from you, and they're just as willing to deal with you as they are with a debt settlement company. Asking to settle your bill for less than the full balance will work only if you have enough funds to make a lump-sum offer—you'll need to bring cash to the table. And remember that if they accept, there could still be a tax bill coming your way.
Read more: http://www.oprah.com/money/Making-Deals-Suze-Orman-Financial-Advice/2#ixzz2sEHEWT2a
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, February 3, 2014
Suze Orman on do's and donts
It looks like a bargain, it sounds like a bargain, it must be a bargain—right? Not always. When it comes to the many financial options out there, what seems great at first glance is often anything but a fair shake. You'll spare yourself serious money woes if you understand the true cost of any financial decision—whether you're transferring a balance or helping your child select a college. Here are the deals you never want to make (and 3 offers that are worth their weight in gold).
Don't: Opt for lower monthly payments with a five-year (or longer) car loan.
Do: Sign up for a car loan only if it's for 36 months or less.
Don't: Buy sale items on credit.
Do: Pay with cash or a debit card.
Don't: Get a low deductible on your auto or home insurance policy.
Do: Raise your deductible to $1,000.
Don't: Let your child go to that fantastic college if it's outside your price range.
Do: Start making the numbers work in high school (if you haven't already set aside funds in a 529 plan or other savings account).
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Don't: Opt for lower monthly payments with a five-year (or longer) car loan.
Do: Sign up for a car loan only if it's for 36 months or less.
Don't: Buy sale items on credit.
Do: Pay with cash or a debit card.
Don't: Get a low deductible on your auto or home insurance policy.
Do: Raise your deductible to $1,000.
Don't: Let your child go to that fantastic college if it's outside your price range.
Do: Start making the numbers work in high school (if you haven't already set aside funds in a 529 plan or other savings account).
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
Monday, January 27, 2014
Money comes after Power
The number one law of money is this: Power attracts money, but powerlessness repels it. Money on its own cannot do anything without you.
Thursday, January 23, 2014
Dont be afraid to admit your mistakes
The six greatest words that you will ever say are 'I admit that I was wrong.' None of us is going to walk through life making every perfect move. It's through our mistakes, our losses, through what's taken away from us, that gives us more of who we are meant to be.
Monday, January 20, 2014
Thursday, January 16, 2014
Thoughts are powerful
Your thoughts create your destiny.
Be very careful about what you think because what you think, you will eventually say.
Be careful about the words that you say because your words become your actions, your actions become your habits, and your habits become your destiny.
Be very careful about what you think because what you think, you will eventually say.
Be careful about the words that you say because your words become your actions, your actions become your habits, and your habits become your destiny.
Monday, January 13, 2014
Thursday, January 9, 2014
Money cannot solve money problems
You can never solve a financial problem with money. The only way for you to have a larger net worth is for you to go within to see why you are going without.
Monday, January 6, 2014
Suze Orman Quote on Loss in life
When you lose something in your life, stop thinking it's a loss for you...it is a gift you have been given so you can get on the right path to where you are meant to go, not to where you think you should have gone.
Provide for your family by giving to yourself
I simply want you to give to yourself as much as you give of yourself. By taking care of yourself financially, you will truly be able to take care of those you love.
Thursday, January 2, 2014
Suze’s best tips from 2013
“If you can afford to buy a home, buy only what you need to keep expenses low.”
“There is nothing wrong with renting if you are priced out of the market.”
“There is nothing wrong with renting if you are priced out of the market.”
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