Podcast Episode - Are You Financially Free or Independent?


About Suze, Financial Independence, Financial Planning


July 04, 2021

Listen to Podcast Episode:

To celebrate the 4th of July, Suze talks about what you need to do, now, to insure your own financial independence.


Podcast Transcript:

July 4th, 2021. Happy July 4th everybody! A day that's all about independence. A day that's all about freedom. A day that also has a lot to do with those two words and your money, but I'll get to that in a second. Before I begin, I just want to say obviously it's just me this morning. I think that's how we're going to do it. Now, Thursdays will be me and KT. And on Sundays it will be just me. But you never know when KT will drop in. But we're sitting here looking out the windows early this morning and a storm, a tropical storm or hurricane possibly is pretty, pretty close to us. So, today's podcast will be relatively short. But I promise you if you're listening, especially today, it will be well worth your while because I want to make sure that I'm able to send this off and as soon as the storm gets closer all transmissions from the island will be shut down. So, let's hope that doesn't happen before I finish this. So, freedom, independence isn't that what we all live for? To be free, free from our thoughts, free from our fears, free from our negativity, free in every possible way, financially free and independence. We want to be independent. We want to know that we can do anything that we want to do or need to do, but we can do it on our own. That we don't necessarily need help to do it, although there's nothing wrong with that. But we also want to be independent. And you know my true career as how you know me today is Suze Orman who's written 10 New York Times bestsellers and so on and so forth. Really started when I wrote the book The Nine Steps to Financial Freedom. And I know I've told you all this before but just sit tight with me here for one second. You know that book just took off? That book, sold sometimes a million copies in hardback in just one month and it was really the latest rage. Like I'll never forget being on the Oprah Winfrey show and Oprah's talking to me and she says you know, Suze, I walked out of the hotel the other day and somebody yelled at me and said “Oprah I'm on Step Four” implying that they were on Step four of the Nine Steps to Financial Freedom. And it was that book that really revolutionized how millions and millions and millions of people changed when it came to how they related to their money. They were able to remove the obstacles, they kept them from being more and having more. And that book just really started an entire revolution when it came to you and your money. But over the years I started to come in a lot of contact with people who had a lot of money, a lot of money. But want to know what was so strange everybody, they weren't free, they weren't free in the way that I wanted people to experience freedom. They were dependent on their financial advisors, their accountants, their managers, their agents, whatever it was. They were totally dependent on all these people to tell them what to do with their money. And so many times people would come to me and they would tell me what happened to them and people that had millions and millions of dollars were taken advantage of from their advisors, from the people who were really regulating their financial lives for them because they were just too busy. The people themselves were too busy and not knowledgeable to know where their money happened to be. So, on some level, they weren't free. Sure, they had money until possibly their advisors ripped them off. But they had money, but they had no idea where their money was. I would ask them about, is it invested in this, is it invested in that, do you own your home outright? They didn't know one thing. So even though they had a lot of financial freedom and that they could do whatever they wanted to, financially speaking, or at least in their mind, they could. In reality they were trapped. They were fearful because they really didn't have control over their money. You know and forever I've had the Suzeism which is you have to be in control of your money, do not let your money control you. And when somebody else is in charge of your money, you are out of control with your money because you don't know anything about it and therefore your money has control over you. Are you understanding that? So, about two years ago before the pandemic hit, I created a course and I changed the title of the course from the Nine Steps to Financial Freedom to the Nine Steps to Financial Independence. Because I realized that independence was actually more important than freedom. Independence included freedom, but it also included that self-power over that freedom. Because you were independent. You could make the choices you wanted to, you were in control. You knew what you were doing and you weren't dependent on anybody else. That doesn't mean that you didn't use other people to help you and to advise you. But you knew every single decision that was made with your money. You know, going back to Oprah for a second, I'll never forget again sitting with Oprah and Oprah telling me what her utility bills were for this new home, the big home that she bought in Santa Barbara. And that not one check went out without Oprah also signing it. And that Oprah knew where every single penny that she had and she's got a lot of pennies, everybody where every single penny went. And I thought now that is an independent woman, that's what I want to be like. So, that's what I want to talk to you about today. Are you just free? Or are you independent? Do you have your independence? Because this is July 4th, this is Independence Day. And I think today is a really important day, not just to celebrate, but to look at the ways and who you are, either dependent on or you don't have your independence or you do have your independence. And I think you really need to think about that. But back to the course for a second. So that's when I decided I really, really wanted to do the course and rename it the Nine Steps to Financial Independence. And many of you that are listening to this right now, actually took that course in person with me and we taped it. And the reason that I'm talking to you about this course is this may be is one of just like the book that I wrote. This, may be. No, let me say this again, everybody. This definitely is the most important online course that any of you could ever take in your life. Because there's a reason why you don't have the money that you want or need in your life. There's a reason why when even though you should do something with your money, you just can't do it. There's a reason why you spend more than you know you should. There's a reason why you have credit card debt. There's a reason why you haven't done that must have documents. There's a reason why you give all your money to your kids rather than to take care of yourself. There are reasons why for this everybody and this course not only uncovers the reasons why, but it solves that problem for you. That ongoing tape that makes you make decisions that aren't good for you. And then it goes from that into what you should do, why you should do it, what's good for you and everything else that you need to know about money. Now, the reason that I'm telling you about this course right now is I decided that on July 4th Independence Day, that for those of you who are so loyal to this podcast, you wake up at 5:00 AM and you download it and you listen to it, or you can't wait for Sunday to come out, for Thursday to come out. I really want to give you a gift, a gift to say thank you for being such loyal Women and Money podcast fans and wanting to learn and wanting to change your life. Because when you're somebody who goes on immediately to listen to this podcast that tells me you want to change your life, you want to learn more about your money. You want to learn more about who you are and how you can make everything in your life financially, spiritually, personally speaking better. So, listen up everybody. I want you all to go to suzeorman.com/protect. And you will see when you go there, there will be a place for you to put in a gift code. And I want you to put in the code, Freedom. I was going to make the word independence and I was thinking, well maybe we won't spell it correctly or something. So, I thought, alright, freedom is better. So, but just in terms of spelling independence, however, is the goal. Now if you do that, you're going to be able to download the Nine Steps to Financial Independence course. But that code is only good until midnight tonight July 4th, 2021 Pacific Coast time. So, that's three a.m. East Coast time. And then this offer goes away. So, this is my gift to all of you who really want financial independence and you want it so much. You actually listen to the podcast the day that it drops. Now. I know there's a lot of you. They're going to say wait, wait, Suze. I want this course too. Well, you can get it, you could go to suzeorman.com, my website. You can scroll down to where it says online courses and it is $199. And so, you're more than welcome to get it there and it is worth every single penny, seriously. However, but now you have an idea of the gift that I'm giving all of you who are listening to me today on July 4th 2021. So, that's what I wanted to tell all of you on this incredible day. Because I want this gift to not make this just an incredible day of independence one day a year, where we celebrate it. I want you to celebrate your financial independence every single day, 365 or 366 days a year, for every year and day for the rest of your life. So, all right. I have to sign off now because really the storm is getting closer than I wanted to. But just know that from my heart to your heart's, I hope you can feel the intense love and appreciation that I have for all of you and until Thursday when my little lovebug joins us again. All I ask is for you all to stay safe, stay strong, stay smart and secure. See you next week. Bye bye.


Here is the link for the special gift Suze has for you: Suzeorman.com/protect.   


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Suze Orman Blog and Podcast Episodes

Suze's Financial Strength Test

Answer Yes or No to the follow statements.

I pay all my credit card bills in full each month.

I have an eight-month emergency savings fund separate from my checking or other bank accounts.

The car I am driving was paid for with cash, or a loan that was no more than three years, and I sure didn’t lease!

I am contributing at least 10% of my gross salary to a retirement plan at work, or I am saving at least that much in an IRA and/or regular taxable account.

I have a long-term asset allocation plan for my retirement investments, and once a year I check to see if I need to do any rebalancing to stay on target with my allocation goals.

I have term life insurance to provide protection to those who are dependent on my income.

I have a will, a trust, an advance directive (living will), and have appointed someone to be my health care proxy.

I have checked all the beneficiaries of every investment account and insurance policy within the past year.

So how did you do?

If you answered yes to every item, congratulations. If you are working on improving on a few items, I say congratulations as well.

As long as you are comitted to truly creating financial security, I applaud you. If that means you are paying down your credit card balances, or are building up your emergency fun with automated payments, that’s more than fine. You are on your way!

But if you found yourself saying No to any of those questions, and you’re not working on moving to Yes, then I want you to stand in your truth. No matter how good you feel, you have some work to do before you can honestly know what you are on solid financial ground.

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