Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

The Road Not Taken: How Losing $50,000 Became My Biggest Gain

November 18, 2014 at 8:18 PM

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.

My goal in my 20s was to open Rockridge Springs, a hot tub/café in San Francisco’s East Bay. That didn’t exactly work out, and that’s exactly why I am who I am today.

I spent seven years after college as a waitress at the Buttercup Bakery in Berkeley, CA. It was the sort of place where everyone there — staff and customers —were friends. We talked. We listened. We cared about each other. Everyone there knew my dream was to open a friendly neighborhood hot tub operation.

One day I shared with a beloved customer, Fred Hasbrook, that my parents told me they couldn’t loan me the $20,000 I needed for my startup. Fred listened quietly as he polished off his breakfast. When he finished, he didn’t just leave a tip. He gave me a $2,000 check and commitments from other diners/friends that totaled $50,000 (the equivalent of nearly $150,000 today). Along with a note: This is for people like you, so that your dreams can come true. To be paid back in 10 years, if you can, with no interest.


Read Full Article

Tag Cloud

Holiday ShoppingJose Rodriguezwomen longer life spanadd teen3 bucket approachMost Influential Celebrities Listsocial security never insolventsocial security20% down payment avoid feesExhibitionearn allowancePhyllis Shelton expert long-term careautomatic withdraw to savings Financialstay positivefinancial independenceborrowing plan SelectQuote.comfile asap401(k) Contributionssame-sex marriageThe Suze Orman Showknow before you oweCommencementinsurance mistakebudgetonly refinance if it paysfocus on needsGiftconfidentfinancial argumentsidentity fraudkid borrow firstUniversity of Illinoisstudent loan repaymentFiscal Responsibilityclosing feesForeclosureStock InvestmentsLong Term Care shopping8 month emergency funddepreciating asset tax ID theftUS Tax Codeworst financial mistakemental healthage appropriate choreMoney Marketterm life insurance20% equityone annual feecar loandebtfinancial concerndangerous retirement planAdequate Auto and Home Insurancedon't do five year car loansuccess2016 adjust withholdinglousy investmentmake saving a pleasureone credit cardpay interest while in schoolcredit managementFinancial Gift CliffHDHP/HSASchool of Social Workno negativitytelevision hostritual schedulelower premiumcan you afford itidentity thefttax refund fraud10% donate to charityHeartdental discount planretirement accountsloved ones dependent on incomeCPI-Wanticipated salaryunexpected expenseyours, mine & oursinitial tax break University of Floridasocial workFederal Funds Ratedon't charge a pennycar buying mistakesAmericans don't use all paid vacation timeGay RightsAshley SpringerStudent DebtChanging Liveshome ownershipgrandparent IRA contribution credit unionsavings pleasurewaive home inspection bidvalentines daybad retirement planningOverspendingunder 18 financial gifthome buying mistakesthree year car loanpublic service loan forgiveness programback door Roth IRAdebt freeLTC shoppingMoney401Kdo not pay allowance for good behaviordream schoolCOLAreal estate marketbetter termsoverspend on dining outinterest capitalizationlet them have 50% controlfour steps to retirement savings 3% debt transferred short term goal focus on new truth advice for college graduatesLong Term Care Insurance mobile applow down payment10 year repayment plan alternative FICO score15-year refinance dealunsubsidized Stafford loanMortgage Credit Availability Indexemotional stakesRetirement Incomelow-cost index mutual fundcommunity bankclosing costs 2% of loancredit reportForbessecured cardback-to-school budgetjanuary billsno sneaking in fees2016 adjust estimated taxhome buying budgetTelepicturesfile taxes quicklytraditional vs roth 401(k)contribute household expenses powerfulstudent loan repayment estimatorWashingtonPrime Rate Increaseteensbuying a cargift grandchild IRA contributionsave moneyhigh FICO scoreSave Us Moneydo you need life insuranceCNBCUrbana-Champaignadult childrenYoung Adult employer offered life insuranceconfident of solutiongift up to 14,000adjust allocations setup automatic savings withdrawloan is giftprovider of financial supportVeterinary Schoolraise insurance deductibleNew american Dream iffy incomerising home priceslower overall drug costwomen long term careemergency fund savingsHolidayapproved medical 100% tax-freeLTCdon't derail retirement savingsdon't defer interest paymentsrent vs buylowest cost fund optioncut monthly cable billno splurge Giftsholiday spendingFinancial Systemno tax on withdrawlsdangerous money seasonbuy home you can affordLove40% toward financial goalwomen live longerproperty taxpublic service career student loan repayment standard ratespeak new goalschool better loan dealsmultiple lenderstaxesGraceclosing disclosurereduce withholdingHSA tax savingsrequire chore in exchange for allowanceinterest on student loanshome loan credit score below 740 don't ignore open enrollmentreferrals Financial CliffsidelinedStudent Debt Crisisloan necessityco-sign Student Loanlife insurance name trust as beneficiarypresident Obamasummer job match income paid in fullrefundautomatic paymentcommitlive below your meansSatisfyingNew York Lifecostly insurance mistakeincrease retirement contribution ratenegotiate points with bank or sellerlearn good financial choicesis it true? quick closing20% down paymentcharges on credit cardautomate student loan paymentsopen enrollment review don't use allowance as bribeinsurance yearly reviewloan big picture Suze Orman's Money Wars2015 record year car salescnbc alarm clocklong term carelong term goalbecome member preexisting condition not coveredmortgage interest tax deductionemployer funding HSAescrowFinancial Power of Attorneyprotect dependent Staffords this year have a fixed 6.8% interest rateSuze is my biggest mentorConventional loan PMITeachAccuQuote.combuy down children under 18avoid burn outmarriage financial responsibility3 step financial road mapverify retirement plan with HR or plan sponsordebit cardkeep a scheduleHDHP's are good for you8 month safety netpay high rate off firstRetirement Savingsresponsible with moneypercentage men widowed 75-84Influentialssocial security not going brokebe good examplewrite new goalhome budget after tax costmaintain standard of livingAmy LacyetFinancial EducatorGay Couplesget health insurancepoint cost offset by savingspay credit debt ASAPstudentzero rate transfer dealsCory BookerAuto Savings pay off debtretirement planemergency fund comparison shoppingbuy homeis it necessaryvalue moneyreal estate mistakesPrime Rate Rise 2015increase emergency savingsRichWall Streetallowancerequired disclosuremonthly dental insurance premiumleave a legacyInvest for savings growthdon't blow tax refundcar leasingenjoy saving push yourself to save more for retirementno life insurance financially irresponsiblemortgagestudent loan debtfamily save at least $100 monthlyPBS SpecialRoth 401(k)student loan repayment planhealthy retirement blood pressurepositiveface your financial fearlong-term care premiumsovercome financial fearsannual cost of living adjustmentmax employee matchbest interest ratesSandy Hook Elementary Schoolsavingsresponsiblelife insuranceEmergency Savingsno fee transfertake actionspecial saving accountletter to suzesecure creditis it kind?financial goal phraseSuze approvedpurely financial standpointCredit Card Interest Ratenear historic lowsBeautyoverspend on giftsBill and Pennyhealthy aging children's bookBankruptcymortgage brokerAARPHow To Build Credithome insuranceOne Wallet At A Timecalculate dependents annual income needsEasy Life Insurance Eric Dodge not gender specific same sex marriage band end Floridahigher insurance deductiblepaid vacationNewtownat worst still pay 75% benefitfinancial fearswives should be involved in retirementFRArepay student loanswomen outlive menincentives for health care wellness screeningHDHP's are not badstandard deduction switch to roth 401(k)pay down student loan debtMass Mutualpay down car loanPost-Divorceno private loanbreakdown projected monthly housing costpay more than minimumFHA loan fees!00% tuition paidbest loan deal pay 100% cashpremiumhousing marketplansmall changes couple financesloan no longer than 36months4 Must Have Documents Lifestylefinancing car 20 year level term retain separate credit cardsteach importance of helping othersgift not loanDurable Power of Attorney for Health Carecut monthly cellular billphysical healthHoliday Seasonitemized deductionis it necessary?no late fee manage student loansbalance transfer Marlo Thomasbill paying prioritiesLong Term Care premiumsrolloverdon't spend cost of capitalization calculatorETF'scollege graduatejuggle multiple financial goalsconsider roth 401(k)2015 financial roadmapretirment savingsdoctors in networkHDHP'sbuying car 2016Goodbyenew carForbes Top 10Suze Orman spouse Kathy Travishome related tax break bonus max employer matched 401(k) contributionlower ratefederal student loan deferment don't extend mortgage monthly benefit Warner Bros Television Groupalways use all paid time off19 years cash flow problemLTCi ASAPdental savings plan2017 TaxesSpendingbe true to yourselfInfluential CelebrityFICO ScoreFinancial Solutions For Youlong-term care insuranceFICO at least 720high premiumsSandy Hook Promisedon't buy wantsPay Off Debt Before Retirementcredit cardcommunity collegerefinanceteach your child good money habitsallowance taskInterestmoney vowskids schedule paymentsprotect loved ones prescription tierSuze changed my lifeignore 6 month grace period dental insurance borrow each year, capitalization is going to pile up Personal FinanceAARP Social security calculatorFinal Goodbyeget the most out of social security would you decline a bonusCiti Simplicity Card replace permanent life insurance with termreduce monthly paymentdoctor no longer in networkage appropriate goalsmoney-aware childhigh deductible health care planmeet monthly death benefit 20 to 25 times annual incomecompare monthly expensesbetter loan ratesIRA contribution gifted moneyCredit scoreFinancial Advice50 over 50Revocable Living Trustheartacheprotect your familyFundslower mortgage interestCredit Card Rate Increaseincrease retirement savingsuniversal college accessFICO credit score credit card mortgagetitle insuranceCivil Rightsstore credit cardssave College of Veterinary Medicinepercentage of women widowed 75-84term insurancecreate new truthno interestHDHP dear suzeexercise reguarlygraduationmortgage disclosureswitch to spouse coverageroth iraget credit cardMotherbad decisionsCommunication Skills overspend on nights outonly offered while employed Financial Awareness Video Festivalmax benefit coveredraise deductiblesnot enough life insuranceSuze Orman ScholarshipMoney-Savingteens and moneylow credit scorefraudulent return6 month waiting periodAlarm ClockEmployer Matched ContributionBank8 RulesBaby Boomersderailed planfull retirement ageSuze OrmanFinancial Awarenessbe kind to yourselfcontribution death benefit needs for familyultimate compounding giftdon't cover cosmetic dentistryFree Debt Eliminatorget over life insurance phobiashop online guaranteed level term policyverify wellness screening and programsgrandchild summer job IRA contributionno waiting periodstretch out haircut appointmentsno retirement funds for down paymentpermanent life insurancehighest possible benefitpaying for college3 savings buckets big results protect and provide for minor child healthy retirement weightorigination feesgay marriage ban end Florida college studentmarriage inequalityretirementreduce interest rate

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2017 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel