Going to college does not put someone on the path to a more secure financial future.
As I explain in detail in The Ultimate Retirement Guide for 50+, once you are living off retirement income, my recommendation is to keep three to five years of living expenses in a money market accoun
On this Ask Suze and KT Anything episode, Suze answers questions about gifted IRAs, I Bonds, long term care insurance, updated wills, logistics of moving away from a financial advisor and more.
The sharp rise in interest rates manufactured by the Federal Reserve over the past year to address inflation has one semi-silver lining: you can now earn more interest on bank and credit union savings
Recent research from T. Rowe Price was short on good news for the retirement prospects of women.
Since so many listeners are still writing Suze with questions about the Five Year Rule in relation to ROTHs, we’re replaying this Suze School from February 2022, about the rule.
On this episode of Ask Suze & KT Anything, Suze answers questions about waiting to take Social Security, transferring from a ROTH to an annuity, inherited IRAs, RMDs and more!
Suze does not hate all annuities. Today’s Suze School is a lesson on the different types of annuities and which ones might be a good option for you and definitely which types to avoid.
When it comes to building financial freedom, I’ve always found it so interesting that people tend to put all their energy into figuring out how to make money and don’t give enough attention to protect
Today’s Suze School podcast is a lesson on how to figure out your real net worth. What happens if a disaster strikes and your home is lost or the Stock Market goes down?
The failure of Silicon Valley Bank a few weeks ago has created plenty of anxiety.
For this Suze School episode, Suze gives us a lesson in understanding a Money Market Account and a Money Market Fund.
On this special episode, Suze outlines the ramifications of three US Banks closing and it’s impact on interest rates.
If you own a car, your auto insurance premium is riding on how good you are at paying your bills on time, and other signals of financial health.
On this episode, we go to a special Suze School for a lesson on the collapse of Silicon Valley Bank and why following FDIC / NCUA guidance is so important to protect your money.
This Suze School podcast is a great lesson about interest rates and how they work. Get out your Suze Notebooks and learn about APY, compounding, dividend yield and interest and more.
On today’s podcast, Suze and KT unveil a fantastic new program with Alliant Credit Union and then we go to Suze School for an important lesson on how to use CDs as an alternative to our emergency fund
After supply chain problems during the pandemic caused the price of new and used cars to skyrocket, we’re finally seeing used car prices begin to fall a bit.
I was saddened, but not terribly surprised, to hear that just one in three adults recently surveyed by New York Life say they are hopeful about their finances.
On this episode of Ask Suze & KT Anything, Suze answers your questions about inheriting, converting Series I Bonds to T-Bills, monitoring your investments, splitting assets during a divorce and more!
On this episode of Ask Suze & KT Anything, Suze answers your questions about debt, gaining access to a deceased loved one’s accounts, T-Bills, starting out saving money and more!
On the first Ask Suze and KT Anything for 2023, Suze answers your questions about making the right investments now, inherited properties, avoiding crypto scams and more.
I hope you have been able to find the time to relax and catch your breath this holiday season.
On the final edition of Ask Suze and KT Anything for 2022, Suze answers your questions about teaching young children about money, buying T-bills from a broker, bankruptcy and more.
On today’s edition of Ask Suze and KT Anything, Suze answers your questions about paying off debt with a retirement account, what to do with the money from a mature annuity, pre-paid funerals and more
On today’s Suze School, we get an update on the markets, what’s happening with how we are saving, and the current state of the economy. Plus, why you should not go beyond a 2 year treasury and an upd
This episode of Ask KT and Suze Anything is a little different.
With investment portfolio values down and the price of everything up, I am not surprised that homeowners are increasingly turning to home equity loans (HELs) and home equity lines of credit (HELOCs).
On this Thanksgiving episode of Ask Suze & KT Anything, Suze answers questions about financing a car, what happens after you pay off your mortgage, rolling over a pension, investing in an HSA and more
On today’s Suze School, we get a lesson in the history of Social Security, what proposed changes may happen to the program and why it’s so important for us to start saving for retirement, now.
On this episode of Ask Suze & KT Anything, Suze answers questions about the best ways to rollover a retirement account, real estate tax exemptions, life estates and more.
This incredibly educational Suze School covers the latest with the Stock Market, the decline of the dollar, treasuries, inflation, bitcoin, student loan forgiveness and more, so make sure you have you
Inflation has been a big drain on household budgets for more than a year now.
On this episode of Ask Suze & KT Anything, Suze answers questions about the best ways to start saving money, designating a beneficiary of an IRA, life insurance, inheriting from overseas and more.
Suze starts this podcast with an update on Series I Bonds, tech stocks and the stock market in general.
I know it’s still early fall, but I hope you will hear me out on why it is essential to figure out your holiday spending strategy ASAP.
In this episode, Suze starts with a story about almost being stuck at sea.
On this episode of Ask Suze & KT Anything, Suze answers questions from you all, about closing a loaded mutual fund, bad financial advisors, IRAs in bankruptcy, callable CDs and more.
Between October 15th and December 7th, everyone enrolled in Medicare has the opportunity to protect their financial health for the coming year.
On this episode of Ask Suze & KT Anything, Suze answers questions from you all, about freezing your accounts, diversifying your portfolio, inheriting money, young couples pooling their money and more.
In this Suze School episode, Suze reviews this past week in the markets and gives you the guidance for the next year or two and why bonds are coming back in favor.
In this week’s Ask Suze Anything, Suze answers questions from Mary Jane, Kari, Linda, Donna, Ann, and a very special listener in need.
On this very special episode Suze invited her friend Dr. Mary Gardner to talk about the real costs in owning a pet.
On this episode of Ask Suze & KT Anything, Suze answers questions from you all about where to save your emergency fund, dollar cost averaging, tax credits on a home sale and more.
On today’s episode, Suze explains how the US Treasury figures the interest you earn in a Series I Bond and why during the first five years you hold the bond, what you see on your statement is not rea
On this special bonus episode, Suze announces a great new opportunity where you can help those in need and get something special for yourself.
On this episode of Ask Suze & KT Anything, Suze answers questions from you all about reinvesting dividends, adding children to a house title, paying for dental work, trusts loans, HELOCs and more.
According to a recent survey by Northwestern Mutual, people who invest time in financial planning are happier than those who don’t.
Retirement planning is a juggling act where you’re dealing with multiple risks all at the same time.
In this episode of Ask Suze Anything, we hear updates from two Women & Money listeners, plus Suze offers advice to Julia, Judy, Terry, and Chris.
While Suze and KT are on their way back from KT’s birthday fishing trip, this episode contains questions from this past year, all about real estate.
The sharp rise in the rate of inflation has likely taken a painful extra bite out of your household’s cash flow.
Since this episode comes out on KT’s birthday, Suze prepared a special set of questions all about gifting Series I bonds.
Inflation is front and center wherever we turn
On today’s episode, we go to Suze School for a lesson on being patient with our investments.
The summer school break just might be serving up the best opportunity for you to step up and deliver one of the most valuable money lessons.
When you open your second quarter investment statements it is not going to be a pretty picture.
Suze starts today's podcast reflecting on Memorial Day and gives us a brief recap of where real estate, energy and food prices are.
During the pandemic, plenty of women decided to launch their own businesses. The number of women who used IncFile to set up their business (registering as an LLC for example) grew by 48%.
Since so many listeners had questions after the April 17, 2022 podcast about Series I Bonds, KT compiled a great sampling for Suze to answer.
The Federal Reserve just made a big change in its policy, and over the coming months the fallout from this change will be felt throughout your financial life.
A recent report from Fidelity reported that among its clients with an Individual Retirement Account (IRA) the average annual contribution has been around $4,100 to $4,300 for the past few years.
Suze is back and after a brief update on her health, she weighs in on everything happening in the world right now and how it impacts your money. Are you in a “financial” hospital?
The total amount of unpaid credit card bills grew $52 billion in the last quarter of 2021. That’s the largest quarterly increase since the New York Federal Reserve began tracking this important signal
On this episode of Ask KT & Suze Anything, Suze answers questions from listeners about Series I Bonds, Collecting Social Security, 401(k) matches, refinancing mortgages, finding the right financial ad
On this podcast of Ask KT & Suze Anything, Suze answers questions from listeners about paying off mortgages, property tax increases after adding to a trust, life insurance, retirement, and more.
On this podcast of Ask KT & Suze Anything, Suze answers questions from listeners about; retirement accounts, saving for a new home, managing investments, caring for special needs relatives and more.
Suze starts this episode with another recap of what happened in the stock market this week.
Suze starts this podcast with a recap of what happened in the stock market last week. Then, we get a lesson on why it’s so important to stay the course with our investments.
On this podcast of Ask KT & Suze Anything, Suze answers questions from listeners Gabrielle, Tinece, Jessica, Rebecca and more, selected and read by KT.
I hope the new year is off to a great start for you and your loved ones.
As we approach the coming months, it is vital that you take whatever steps you can to make sure that you are getting the most out of every single penny that you earn.
On this Ask Suze (and KT) Anything, Suze answers questions from listeners Victoria, Lauren, Susan, Kathy, Prudence, Lobel, Kevin and Alex, selected and read by KT. Plus, a Quizzie.
There’s something everyone decades away from becoming eligible for Medicare needs to know.
On this podcast of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Jill, Christine, Leslie, Gina, Jasmine, Marlena and Pamela selected and read by KT.
On this edition of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Annie, Dyanne, Kathy, DeAsha, Cathay & Jay, Janet, Elizabeth and Lisa, selected and read by KT.
On this podcast of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Brent, Beth, Lena, Dereck, Mo, Rena and Tiffany, selected and read by KT. Plus, a quizzie for KT.
When it comes to saving for retirement, I know you know what you should be doing. And I also know that sometimes you can fall short of what you know is best.
On this edition of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Erica, Leigh, Mary, Pam, Aga, Kamud, Jenny, Tracy and Tricia selected and read by KT.
Regret can be a powerful motivator to change behavior.
On this edition of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Yamuna, Kristen, Dianne, Amanda, Ruth, Michelle, Clara and more, all selected and read by KT.
On this podcast of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Kristen, Nancy, Denise, Tamara, Holly, Becky, Penelope and Jeanie, selected and read by KT.
On this podcast of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Anne, Norma, Deanna, Derrick, Camile, Miura, Nicole, Vanessa and Marcia, selected and read by KT.
Beginning in July, most households with children under the age of 18 will begin receiving a sizable monthly check from the U.S. government. And that makes right now the best time to hatch a plan for h
If you are at least 72 years old, or love someone who is, 2021 brings us the return of the RMD.
On this podcast of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Kelly, Joyce, Nicole, Kim, Marcia, Tommy, Jessica, Robert, Zoya, Lori, and others selected by KT.
On this podcast of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Victoria, Larry, Jessica, Debbie, and Rodney selected and read by KT.
You know I wish all of you great health. And a life free of injury. And you also know that one of my most important pieces of advice is to “hope for the best and plan for the worst.”
Now that coronavirus vaccinations have begun, I know that we are all eager to be able to get out more, get together more, and maybe even get-away (travel) more.
On this podcast, Suze announces a major initiative she has been working on for months! Imagine how great it would be if you could get paid to save your money instead of spend it.
In the coming weeks many households will likely be getting some financial help from Washington. A new round of stimulus checks and a supplemental federal unemployment benefit was finalized in late Dec
On this podcast, Suze talks to us about ending the year during very uncertain financial times.
Those of you who joined my free Financial Solutions for You webinar last month got a jump on an important new piece of advice.
I have been hearing from so many of you who are worried about how your adult kids are faring, and will fare, in our current economy. Some of those kids have moved home. Some are struggling to make end
In this podcast, Suze talks about the flame we all have burning inside of us and how we need to keep that flame lit, when things get rough. We also get a mini-Suze School covering three topics.
There is a storm affecting Suze’s ability to send her podcast today. Suze presents this special "Best Of" from November 1, 2018, where she and Sarah ask and answer an important question.
In this episode, Suze takes us back to “Suze School” for a lesson on Roth IRAs and the tax ramifications of each account. Pay attention and listen again, as this is important information to know.
On this podcast of Ask Suze Anything, Suze answers questions from Women & Money listeners Sandra, Melinda, Millagros, Amy, Angeline, Shelly, and Sheri. Today’s questions are read by a special guest!
On this podcast, Suze says that words are powerful; they have the power to create or the power to destroy, the choice is up to you. She tells us the advice she gave a friend who had lost hope.
On this special episode of Women & Money, Suze introduces you to a very special person, her spouse, KT! Suze and KT share how they live together and make their financial decisions.
On March 16, 2019, Suze appeared at the legendary Apollo Theater in Harlem, New York, as part of the Women of The World Festival. In this podcast, you will hear a condensed version of Suze’s talk.
I have never been accused of following the crowd. One of the ways I have always “stuck out” is my advice for how big your emergency fund should be.
In this Paying for College edition of Ask Suze Anything, Suze answers questions from Women & Money listeners Jodi, Scott, Miriam, Grace, and Jean.
In this podcast of Ask Suze Anything, we hear questions and stories from Women & Money listeners Judy, Steve, Stephanie, Joan, Trish, Jim, Sophia, Suzy, and Patricia.
I hear from so many of you who are at least 50 that you are worried you won’t be able to have a great retirement. And those of you who are retired are anxious if your money will last.
In this special podcast of Ask Suze Anything, Suze interviews the nationally recognized expert on student financial aid, scholarships and student loans, Mark Kantrowitz.
The New Year has just started, and that’s the riskiest time of year as far as I am concerned.
Teaching your children the pleasure of saving is going to be one of your hardest tasks, since chances are you do not enjoy it either. If you force them to save, they might grow to resent it.
In this rapid-fire podcast of Ask Suze Anything, we hear questions from Women & Money listeners Jamie, Norma, Danielle, Michelle, Cindy, Phil, Nicholas, Jacqueline, Mohammad, Lauren, and Valerie.
I know many of you are helping out your adult kids financially. I also know that many of you are worried you won’t be in great shape when it comes to retirement.
A recent survey of employers says they expect the typical raise next year to be around 3%. I hope you are the rock star who lands an even bigger pay increase. But, 3% is good when you consider that th
Oh, the things we do for love! A recent survey reports that more than half of U.S. investors provide financial assistance, or personal care to adult children or other family members. The financial aid
If you are a recent college grad, or love one, please listen up on the must-do financial moves you need to tackle right now. Not next year. Right now. The choices you make today will make all the diff
It’s been more than a decade since the U.S. economy fell into a recession. That’s a long time ago. But I know for many of you, far from forgotten, as the Great Recession that lasted from late 2007 to
I hope you and your family have had a fantastic summer full of fun, adventure and most of all, relaxation. With the academic school year starting soon, it’s an important time for parents –and grandp
Suze Orman’s Women & Money Podcast
In this special episode of Women & Money, Suze introduces you to a very special person, her spouse, KT! Suze and KT share how they live together and make their financial decisions.
Where did your faith go? In this episode of Women & Money, Suze talks about the costs of losing faith in yourself, in your strength, and in your wisdom.
Too many of you have given up hope, so on this Ask Suze Anything episode, Suze shares emails from Women & Money listeners Carol, Renee, and A.T. about their success.
Suze goes further to explore the power of finding the combination of financial independence and financial freedom by answering listener questions.
In this episode of Women & Money, Suze shares an email from podcast listener Natalie, who describes her heartbreaking experience with financial abuse.
In this episode of Women & Money, Suze describes the five mistakes you need to avoid when dealing with a financial advisor and delves into the topic of how your mind makes you poor.
Earning a college degree is a fantastic accomplishment. Congratulations to all the recent grads.
In this Ask Suze Anything episode, we get questions from Sharon, Jennifer, Regina, Sherry, and Diane.
In today’s podcast, Suze shares with you the book that set her on the path to financial freedom.
This episode of Ask Suze Anything is dedicated to information about retirement accounts, as Suze answers questions from Women & Money listeners: Kayla, Janeece, Krissy, Ashleigh, Jackelyn, Letty, and
In this episode, Suze shares a story from a woman who suffered a brain aneurism and woke up thinking her life was great.
A large national survey by the Transamerica Center for Retirement Studies found that saving for retirement is not our top priority.
I don’t even need to ask you if you want to save more money. Of course you do. And yet, it can be so hard to get started and stay committed. I get it.
For this Easter 2019 episode of the podcast, Suze shares a great story of how distractions pull you away from your goals and how you may be a distraction to others.
In this podcast, Suze shares her tears and heartfelt confusion about financial suffering.
For today’s Ask Suze Anything, we present the question and answer part of Suze’s appearance at the legendary Apollo Theater in Harlem, NY, as part of the Women of The World Festival on March 16, 2019.
What are your obstacles to wealth? What are the gatekeepers to wealth? In today’s episode, Suze tells the story of a woman she attempted to help.
“It is far better to do nothing than something you don’t understand.”
A new study that looked at the employment and pay patterns for people once they turn 50 should be a wake-up call for anyone approaching or in their 50s. About half of the people in the study suffe
Over the last two episodes, Suze explored financial abuse. In this very special episode, you’ll hear a very candid and emotional conversation between Suze and her friend, Sarah.
You may have seen, or participated in, the 10-year challenge that swept through Facebook, Instagram and Twitter in January, asking people to post a photo of themselves in 2009 and 2019.
In this episode, Suze shares correspondence she had with two financially abused women.
In this episode, Suze shares her personal feelings about her own investments.
Did you land a year-end bonus? Even better, a nice raise? Or, perhaps you’ve been working a side gig and have some extra income to put to work? Also, I know many of you will soon be receiving...
While wahoo fishing a few weeks back, Suze had a revelation. What she realized is that financial freedom can no longer be the only goal.
For Part Two of Broke No More, Suze takes her signature, straight-forward approach to answer questions and unpacks the bag on what it takes to stop being broken and start getting right with yourself,
This episode explores the true reasons you feel broke regardless of how much money you make.
Suze delves into a form of abuse that often goes unnoticed: financial abuse.
I am a big fan of taking the time to pause, take in a deep breath, and slow down. It helps to calm us, and more importantly to give us the ability to look at something anew...
A recent survey of millennial's found that nearly 4 in 10 adults between the age of 22 and 35 believe that there is no big rush to start saving for retirement, and that they can focus on other go
You know I am all for investing money you won’t need for decades in low-cost stock index mutual funds or exchange-traded funds.
Financial stress is a multigenerational issue. Young adults look at high home prices in many parts of the country and wonder when –or if– they will ever be able to afford to buy.
Saving for retirement is job 1, 2, and 3 as far as I concerned. What you manage to save today obviously plays a big role in what you have to enjoy your tomorrows.
**SOLD OUT**The time has never been more right for women to finally take control of their finances.
If your child or grandchild is getting paid for a summer job, it is an amazing opportunity for you to teach two of the most powerful financial lessons.
A recent survey of more than 250 widows with a net worth of at least $1 million highlights how so many women set themselves up for later-life anxiety and frustration.
How much you manage to save for retirement, and how you choose to invest your retirement savings play big roles in determining how comfortable your retirement will be. But once you are retired,
Hurricanes and tropical storms in Florida and throughout the Caribbean, wildfires in the west and the Mexico earthquakes have been devastating for so many. And heart wrenching for all of us.
Fall is the popular time for open enrollment at work, when employers lay out all the ins and outs of their benefit package for the coming year, and leave it to workers to decide if they want to change or update any of their benefit coverage.
When the American College of Financial Services recently quizzed retirement-aged people on the basics of how to make their money last, just 35 percent of men passed the test. As troubling as that is, only 18 percent of women passed.
I have a one-question test on whether you are truly serious about achieving financial security. How long do you want to keep your current car?
When you land a new job you are going to be totally focused on making a great first impression. But I also want you to make sure you take care of your financial future by steering clear of two all-too-common retirement mistakes.
If you have spent more than three minutes watching broadcast television, you’re well aware that insurance companies are eager to get your business. But despite all those commercials, the reality is that many drivers aren’t shopping around for the best auto insurance deal.
I hope you have a fantastic July 4th, and that it includes some time to reflect on the principles of our democracy that are celebrated on this holiday. We have so much to be grateful for.
When you and your partner make the decision for one of you to be a stay-at-home parent, the tendency is to center all the financial decisions on the person who is still earning an income. Notice I didn’t say “the one who is still working.” Please. Being a stay at home parent is probably the hardest—and certainly the most important-work there is.
You know I believe there is no substitute for keeping an emergency fund in a federally insured bank or credit union account. That is the best—the only way—to ensure your “what if” money is always safe and will always be there for you. Yet I know how frustrating it has been to follow my safe—not—sorry advice since late 2008. That’s when the Federal Reserve pushed safe savings rates down to zero. The Fed’s move was focused to help the economy pull out of recession and then regain some positive momentum. But that was done at the cost of savers earning pretty much nothing.
I hope anyone nearing age 65 realizes that Medicare does not cover routine dental procedures. As recently reported in a terrific retirement blog, seniors pay more than $1,100 a year for dental work. But what is most troubling to me is that two years ago the nonprofit Kaiser Family Foundation reported that one in five Medicare enrollees said the high cost of dental care is a barrier to getting care. That’s dangerous, as not keeping up with dental care can impact your quality of life—if your teeth and gums don’t stay strong-and can lead to illnesses.
The average refund for federal tax returns is nearly $3,000. And I know plenty of you also end up getting some money back when you file your state tax as well. Don’t blow it! Look, I know how easy it is to see your refund as a windfall. And that triggers thoughts of vacations, new wardrobes, or a new gadget or two.
If you have been making a long list of resolutions for the New Year, my advice is to rip it up.
According to the car data experts at Edmunds.com a record number of Americans are making one of the worst financial moves ever. Edmunds.com says that nearly 1 in 3 new car
You know that I have often stated that one of the keys to financial freedom is to feel as much pleasure from saving, as you get from spending.
According to Experian, the percentage of consumers who chose a lease when purchasing a new car jumped from less than 27% a year ago to a record high of 31.4% in the second quarter of this year.
I was glued to the TV recently watching the news when an advertisement for Guaranteed Acceptance Life Insurance came on. Whoo boy, did my blood pressure rise. I am not a fan of this type of life insurance.
Well, as you have probably heard, the annual inflation adjustment Social Security recipients will get in 2017 will be 0.3%. That’s about $4 a month for the average retiree.
It’s been a great stretch for investors. Stocks have gained more than 250% in the bull market that stretches all the way back to 2009. I am always a big believer that dollar cost averaging-investing on a regular basis-is a great strategy for long-term investors. So don’t take what I am about to say as a reason to give up on stocks: Returns over the next seven to 10 years probably won’t be as good as what we’ve had the past seven years.
You may have heard or read recently about some high profile retirement plan sponsors being sued by plan participants for high fees in the plan. Financial service firms-yep, folks who run mutual funds-have been hit with lawsuits, as have the plans run by MIT, NYU and Yale.
When it comes to planning for a secure retirement I bet you have the major strategies covered: -Invest in your 401(k) or 403(b) up to point of the match? Check -Save in a Roth IRA? Check -Aim to have your mortgage paid off before you retire? Check -Commit to getting plenty of exercise?
It’s that time of year again: back to school. While I know there are legions of amazing teachers waiting to educate your kids, I need you to step up and do some important teaching that most schools drop the ball on: personal finance.
If you are struggling to make a dent in a large credit card balance, and you have a strong FICO score, I want you to look into what could possibly be the ticket to finally being able to pay down your balance. As reported by NextAdvisor, the Citi Simplicity Card offers 21 months of no interest payments on balance transfers or new purchases. That’s nearly two years to make progress paying down your credit card debt.
In late July, the 3.4% average rate for a 30-year mortgage was near the historic low set in 2013. That’s great news for so many homeowners who were unable to refinance back in 2013 because they didn’t have the 20% equity that most lenders require for the best refi deals. Fast-forward to today and home values are up an average of nearly 30% since early 2013. That means plenty of homeowners can now-finally-refinance at today’s great rates.
You know your kids are sponges. So let me ask you a question: what lessons about saving are they absorbing from you?
Lenders like to give home borrowers choices when it comes to their mortgage rate. You’ll always be presented with a standard rate: what you qualify for based on how the lender sizes up your financial profile (credit score, income, debts etc.) And then you will also be presented with some options to “buy down” or reduce that interest rate.
The average cost of a wedding is now more than $30,000. As I have explained in How to Budget for a Wedding, spending even $3,000 on a wedding is a bad move if you have credit card debt, have yet to build a large emergency fund, or aren’t on pace with your retirement savings.
If you have a child or grandchild who is going to get paid for work this summer, I want you to consider a way to gift them a valuable retirement stake.
If you have unpaid credit card balances, your situation could soon progress from very expensive to ridiculously expensive.
I am concerned that many of you are banking on a retirement strategy that may not work out. According to a national survey, more than four in 10 Americans say they plan to keep working past the age of 65.
I am betting plenty of you have noticed the steep rise in prescription drug costs. According to the non-profit Kaiser Family Foundation, drug prices jumped more than 11% in 2014 and are estimated to have risen another 9.6% last year. And there’s no relief in sight. The expectation is that prices will rise about 4% in 2016. All of that is during a stretch when annual inflation has averaged less than 2%.
Spring is a dangerous time of year for your financial security. I know so many of you will be getting a tax refund; some of you may be getting money back from both Uncle Sam and your state. The danger is that you blow the money on a want, rather than focus on your needs.
I know you probably can compile a very long list of things you’d rather do than tackle your 2015 tax returns. But please listen to me: procrastination could cost you big time this year, if you anticipate you will be receiving a refund.
When it comes to financial fears, debt is the ultimate four letter word. Whether you have credit card debt, or student loan debt, or want to buy a home or a car that you will finance, you’re dealing with debt. Or more to the point, it’s probably throwing you for a loop. Debt is the major stress point in every household that I’ve worked with.
I don’t know about you, but if I see or hear of one more survey about how panicked most Americans are about their retirement, I will scream. That we have a national fear of retirement preparedness is abundantly clear. What we need now are less surveys and more advice on how to conquer retirement fears. Here are my key steps to start down your road to retirement financial freedom.
When it comes to ranking financial fears, worrying about how your family will fare if calamity strikes is probably at the top of your list. Yet for some reason, no amount of fear has pushed you to the point of (finally!) taking the steps to protect yourself and your family from the “what ifs” that can strike at any time. I am not here to scold. Or guilt you. I just want you to get past this excruciating fear once and for all. Here’s how:
As we turn the corner into a new year, my biggest hope is that peace and happiness is in great abundance for each and every one of you and all those you love. You know from years of hearing me invoke “People First, Then Money, Then Things” that I think there should be no bigger focus than building and nurturing that peace and happiness. But there is also always room to focus on the ways you can continue to build financial security in 2016. The progress you make on taking control of your money will, after all, bring even more happiness and peace into your life.
One of the hardest challenges managing your financial life is figuring out how best to juggle multiple goals. And one of the most vexing decisions is what to do if you have credit card debt and you have money sitting in your emergency savings fund.
As year-end approaches, I know that’s when plenty of you will be sitting down with your manager for a year-end review. I sure hope there’s a pay raise involved. Given how stingy raises have been since the Great Recession, I want to make sure that you don’t blow it. Literally.
It’s estimated that Americans spend more than $20 billion a year renting space in a self-storage facility. According to the Self Storage Association, the number of households renting out a storage facility has grown 65% over the past 20 years. It’s hard to drive more than a few miles in urban areas and not spy at least one self-storage business (and often more). The aggregate land mass for U.S. storage facilities spans a total of 78 square miles, or more than three times the size of Manhattan.
Whether you are buying a home or refinancing an existing mortgage, new federally required disclosure documents make it easy-yes, I said easy-to be a super smart mortgage shopper.
One of the most dangerous mistakes you can make is to rely on the life insurance your employer offers up as benefit.
Please don’t keep your health insurance on autopilot. I know it’s tempting just to ignore the annual “open enrollment” communications from your employer to review your choices, and just stick with the plan you have. That could be a costly mistake. Here are 4 reasons to spend some time reviewing your employer-provided health insurance choices:
About half of large employers now offer a high-deductible health insurance plan (HDHP). I know the mere mention of “high deductible” might send your blood pressure skyward, but please listen to me. For many of you, a HDHP may be the smartest health insurance.
I’ve spent a lot of time poring over the finances of families who come to me for help. No matter what problem they are trying to fix, a universal step in my review is to go through their monthly spending in detail and show them how trimming back on certain expenses can add up to substantial savings.
So often grandparents come up to me and ask how they can best help their grandchildren get a leg up. My favorite move is to gift a grandchild money to open a Roth IRA. Here’s what you need to know:
One of the most common things I hear from many couples is that the husband likes investing and planning, and thus wives are all too happy to let him handle the retirement strategizing. Big mistake. Not because I am doubting the skill and intentions of men. Rather, my concern is that it’s women who typically are the most at risk in terms of retirement security for a very simple fact: Women tend to outlive men.
It makes me so sad to read reports that many households don’t have even $1,000 set aside to cover an unexpected expense. What’s so sad is that I know that must cause such stress.
A recent report that studied the 401(k) savings habits of millions of workers found that one in four of you are not contributing enough to your account to qualify for your employer’s maximum match. The average annual amount of money left on the table is more than $1,300 a year. That is nuts.
You know I love, love, love Roth IRAs. One of the prime reasons being that in retirement you will not owe a penny of tax on your withdrawals. That’s quite different from a Traditional IRA where every penny will be taxed at your ordinary income tax rate.
As a nation we set aside one day a year to formally celebrate our independence. When it comes to your money my hope is that you will make every day, not just July 4th, a day where you make conscious decisions that will help you build financial independence: a life where you are in control of your money, and not vice-versa.
Your Social Security retirement benefit is one of the most valuable pieces of your retirement plan. Not only will it likely account for a large portion of your income when you retire, but it also has an incredible feature: your annual benefits increase with inflation. Your 401(k) and IRAs don’t come with such a great guaranteed inflation-protection feature.
Life insurance is such a difficult financial hurdle for so many of you. You’re either queasy about pondering the need for it in the first place, or you are rightfully queasy about getting taken by an agent selling you a way-too-expensive policy.
Saving for retirement is a no-brainer. But knowing the smartest ways to do that saving is anything but easy to figure out, given all the choices. Don’t worry, I’ve got you covered. Here’s exactly what you should do, in the order I list:
I am a big believer in home ownership, but only if it makes financial sense. If you answer yes to any of these questions you are better off renting:
If you lack the cash to buy a car free and clear, you really need to hear me out on the two worst financing moves you can make. What I am about to tell you can save you hundreds, if not thousands of dollars. And trust me, this is exactly what car dealers and financing companies don’t want you to know:
Having a good credit score isn’t good enough. To land the best loan deals and qualify for the best credit card offers you need to have a seriously great FICO credit score of at least 740. Here’s how to improve your FICO score.
Spring is in the air! Springtime is about renewal and rebirth, and therefore a perfect to take stock of your life, and take charge of your finances. It’s time to get off the fence and spring clean your finances, ladies!
President Obama has announced a plan that would pay for 100% of the tuition for anyone who wants to attend a community college and can commit to remain on course to graduate from the two-year program
Far from aspirations that would lead a reporter to refer to me as “a force in personal finance,” my career is the result of a hot tub dream gone bad.
A recent paper from the influential Research Affiliates investment management firm (more than $140 billion in assets managed) takes the provocative stance that young adults saving for
Listen up my 60 something friends (and those of you heading to that milestone soon) we need to have a talk about your retirement planning.
If one were to ask me what I think is the most dangerous threat to our economy, the answer is very simple: STUDENT LOANS.
Congress’ shenanigans to shut down the government for 16 days this month has many Americans rightfully concerned about their personal finances.“If you don’t want to be affected by the actions—or lack of actions—in Washington, you and you alone are going to have to save yourself,” insists Suze Orman.
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.
The car you're driving could be driving you into poverty, says Suze Orman. While lenders are relaxing terms and offering longer periods for borrowers to pay, Orman is sticking by her rules of the road.
Do you keep finding yourself with debt that just won't go away? Every time you pay off your credit card, do you feel compelled to run out and charge it back up again? If so, your problem may not be financial at all.
It is becoming easier to get a loan these days and that's not necessarily a good thing. "I'm telling you things have gone bizarre again, at the exact time they shouldn't be going bizarre. So, you need to stay very strict with yourself," warns Suze Orman.
The U.S. Department of the Treasury announced Thursday that when it comes to taxes, it will recognize same-sex couples' marriages even if they live in a state that does not.
America's most famous expert on personal finance and star of her own award-winning CNBC television show offers advice for “staying” afloat in these economically turbulent times, thanks to lessons learned at sea.
Personal finance expert Suze Orman took a break from her soap box at CNBC on Monday to speak candidly about her experience as a gay taxpayer in America. "There is such discrimination [in our tax
More than 300,000 financial advisors in the United States provide saving, investing and retirement advice, but only one made the top ten of the Forbes 2013 list of the most influential celebrities: Suze Orman.
Forbes magazine has released its list of Most Influential Celebrities of 2013. Suze makes the top 10!
Long-term-care insurance provides a multigenerational benefit: The policyholder is covered, while her adult children are free to spend more of their income on their own kids. Here's what to consider when choosing LTC coverage...
The CNBC Alarm Clock App has added the voice of Suze Orman, host of CNBC's "The Suze Orman Show" (Saturday nights at 9PM & 12AM ET), by popular demand. Now CNBC Alarm Clock users can select the award-winning television host to get them up and make sure they get right to business.
That nine states and the District of Columbia have legalized same-sex marriage is encouraging progress for those of us who believe that everyone deserves to have basic civil rights. But, even if every state in the country could pass a similar legislation, it would not be enough.
Whenever you feel fear about spending money that should be a sign that you're spending money you don't have to possibly even impress people you don't even know or like.