17 Burst results for "Suzie Ormond"
"suze orman" Discussed on Pivot
"All My son talks about his basketball now. You don't even understand I and I have to learn. I must learn. He's now six two. He's almost six three. He's really wants to play basketball and he's playing it all the time. Yes. Oh my God! He's six high. So? Does it look when you guys? Look like he's dropping you off kindergarten. Crate. Grew a foot in the past year is crazy, crazy tall! About him right, we don't have sports. Louis six feet tall. This is this one is my youngest. A young Yup yeah to yes. Yes. I'M NOT GONNA go into how lesbians procreate, but his his mom, his birth mom, five eleven in the birth father was six three. So there you have it. Brochure I know, Same Dad of might two kids, but. I will watch our it's. The perfect man well, he's going to be taller anyway. He's eating everything in the refrigerator right now. I have to like. Put a lock on it soon because he'd like. He literally eight twenty pounds of blueberries. The and we're in a real strict quarantine, so if you don't hear from me, it's because they died from starvation anyway. Scott see you Thursday. Are there any plans between now and not anything? I'm doing kick off my property online strategy sprint with thousand students online, which excited about Yeah, be fun I'm doing I'm doing a virtual presentation for can buy miscount. You know you have those moments Cara where you think. Oh, it's just a bummer. This whole pandemic thing I love con con con I just love it. I think it's wonderful to me and Khan Academy conference. People drink and rose am liquor each other. The creativity. To me, I love. Today. I learned Algebra. Khan Academy. Now Global Gone. Herschel presentation talking about advertising in the world? anyways, but I'm doing online. Having and there then on, too many reduncancies yachts by. Oh my God. It's the worst the worst so one of the worst worst ice. Place I get I. It's incredible. I totally rag on facebook. And then someone from snap comes up and says conduct partying on the beach. It's I. There I love it I dated it. there. Let's go together the next year. You're not go together. Next year. We'll get him. One of those little cards remember those little carts. They will ride you around on. We'll you know we're going to go? WE'RE GONNA go to that Santos. GonNa go. fucking the Wall Street. To the DUBS dance. Background on the score. And pay is so cool and costs a fortune. You'RE GONNA pay and I ended TWAS. Sank on sake. Yeah, go there for lunch. You and I together will broadcast from there at the overpriced. Share she was wearing a leather jacket and rebounds, and like ninety degree heat. We will be there. You and I share anyway. Don't forget. You have a story in the news curious about WanNa. Hear our opinion on email. A pivot at box media dot com to be featured on the show I'm so glad we ended on a really snotty elite thing to do after talking to the great. Suzie ormond talking about the people anyway Scott. Please.
"suze orman" Discussed on You Can Heal Your Life
"Why should I pay off my mortgage or continue to invest in? My retirement accounts suzy. I have student loan debt than I'm paying for my kids. I have my retirement account that I need to invest in. I have a mortgage like they're like why do I do? What's the best way for me to plan for my retirement suzy? I need income. How do I figure out what do I need for me to be able to retire and know that I'm not going to run out of money? What should I do Susie so Suzie? Should I sell my house now or should I wait? I'm barely able to pay my bills now susie so I thought once I retired I would sell my house but but I hear you always say maybe you should sell it right now. Should I thinks like that. And and you know the thing. That's interesting about this book. It's about the conversations that we need to have not only with ourselves selling in that waiting investing in dividend paying stocks versus bonds. All those kinds of things. 'cause bonds are a little bit obsolete right now to tell you the truth. Interest rates are so low but it's also about the conversations we need to have with our family because so many times read while you're working and you have money coming in your family is not doing so well. And they're dependent upon you and you as a typical parent of always said. I'll there for you here. I'll help you with your down payment on the house. I'll do this but there comes a point now wants you to retire. You need to have a talk with the family and we go into this. I go into this in great detail in the book about now. The Times have turned now. I can't help you anymore. Maybe you need to help me. But there's all those conversations that are very very difficult they have to be had for sure and I think another question. I know that a lot of people ask about long Term Care Insurance. The of a quick little advice to give people about that. Yeah I do and again. I covered in great detail in the book. But the truth of the matter. Is this one out of two or one out of three of you will spend some time in a nursing home after the age of sixty five your health insurance will not pay for it?.
"suze orman" Discussed on The Dr. Gundry Podcast
"I just need you to think about what's happening right now. What's happening right now is this I know. Interest rates are low but if you think interest rates are going anywhere in the next six months years or so I got news for you. They're going to be low for a long long time. They cannot afford to go up. They have got to stay low to keep the economy solid hearer or a solid possibly be real estate. Do you know how many people are going to be forfeiting on their mortgages. How many homes are GONNA be foreclosed upon even if you think you have a multi multibillion air living next door to you? You have no idea. Do they just lose their company? What happened to them? Your home is only worth as much as the neighborhood. The houses on your black are worth if somebody next door from you. Claims Bankruptcy sells their house for fifty. Percents off what it is now. Guess What Your House is going to be valued at so just wait. This is not the time to be barring money. Borrowing money to do what nothing. This is not the time to be buying a home. You're going to have plenty of chances in my opinion to buy a home if you want to. For far less than what it is right now. Cars cars the industry is down twenty five percent right now. You'll have a chance but right now. Can you just stay solid? Can you just stay healthy and wealthy or as much money as you possibly can have? This is not the time to be buying anything great advice so you know. I think people because of credit card crises been the past have been very wary about maxing out their credit card. But you're saying this may be the time to make that exception..
"suze orman" Discussed on The Oprah Winfrey Show: The Podcast
"For one hundred fifty thousand dollar mortgage correct. Joanna that's correct so the banks say she can afford one hundred fifty thousand dollar mortgage. The truth of the matter is the lending institution should have denied you because you didn't have the money. Shame on them. Shame on them. But good for you girlfriend that you're not gonNA get yourself in trouble antastic. Thank you Joanna. Millions of people are stressed watching their retirement savings disappear into thin air. I want you to meet a woman who says she's tried to do everything right. So you're questioning Suzie as well Suzie. I'm fifty years old. I absolutely love my job but I'd like to know if I'm able to retire. I really WANNA retire. Fifty six fifty six. Oh Kansas years so currently my income is a little over ninety one hundred dollars. My expenses are a little over eighty one hundred dollars and I've got retirement savings of three hundred and ninety three thousand dollars so the question is thousand dollar month. Excess approximately can shave Ford it and you say and I say before we go there. Just tell me what will be your income and your expenses after retirement whereabout even are we not well. I know that I'm going to have to reduce my expenses so I expect my retirement income to be somewhere around sixty five hundred. Yes and my expenses in retirement to be sixty three hundred a month so she's still got an excess so we're looking good aren't we? We're looking good. You are deny. Let me tell you why you know we do a lot of research and all these people that you're not really seeing so I just don't pull this my hat what you're also not seeing that you have sixty two hundred dollars of credit card debt. At fourteen percent interest rate fourteen point two percent be exact. Sixty two hundred two hundred dollars. We have fifty thousand dollars in a savings account but that is not my eight months now. Here is the reason why. What was the three hundred ninety? Three thousand dollars a retirement account that she can't touch okay because she wants to retire at fifty six so she still giving the stock market today. Maybe it's ninety three thousand dollars but anything can happen at any time. But here's the real reason you're denied. Outta love ready for this. I'm ready women will spend more years. You will spend more years in retirement than you did working for IBM so you will have worked for. Ibm for thirty years. At the age of fifty six from fifty six. You'll have another thirty to thirty five forty years of life. She will spend more years. She retires at fifty-six in retirement than she did working. What you did not factor in. Was inflation as you get older. You take more medication. You need more help. Things become more expensive things. Go wrong and in today's economy when you're counting on pensions and things from corporations. We don't know when they'll have to cut that back when they will all of a sudden stop it. They won't pay for your health benefits so I don't have enough cushion there for you to be able to retire at the age of fifty six but the good news. Is You love your job. Trust me when you get to be fifty fifty-seven you ain't got to want to retire. But the other thing is in this goes back to the other guests to you to everybody you live in an exorbitant lifestyle. You real two hundred dollars a month manicures. You have nine thousand dollars a month of expenses. I was looking through every one of your expenses going is. She really wanted to retire. She would not do that. And you wouldn't have six thousand dollars. Credit card debt meant. You should have seen before I cut back. I know I'm thinking is sixty two hundred dollars a credit card debt a lot. That's not alive. It's but I'll tell you the problem. It's not a lot but that means that you don't really have emergency saving so don't really have everything you need. We're living in deficit. Used to hearing these big numbers like making this kind of money. Yeah you shouldn't have any credit card debt whatsoever. Okay thank you Marilyn retiring at sixty four more years four more years. Marla joins us from our home audience from our Living Room in Boston. Hi Friend Susie I Emma Lebron delivery nurse and I work really long nights and I have to come home in the middle of the night and since I live in Boston. There's a lot of snow so I'm wondering if I can afford an SUV to get me home. Late nights in the snow will SUV in this. Now show me the money girlfriend. I take home about thirty four hundred dollars a month. My monthly income. My monthly expenses are twenty five hundred which includes my three hundred sixteen dollar car payment and I have about eight hundred dollars. On zero percent. Credit Card and savings is about twelve hundred dollars. Yes yes so. The question is do you think. Currently she has a three hundred sixteen dollar a month car payment. That's because she'd laces the car that lease is up next March. I believe so Kanshi afford to buy an SUV. You think with heated seats. Now you've been approved. What what let me tell you why. Her she'd leases a car. Her car has to be returned in when in the next few months. She is out on the roads herself at night as a nurse delivering its. She's afraid she's a woman alone and she has snow sometimes people before money. Remember people first then money then things. She needs a new car anyway when she gets rid of police car if you can find an SUV that you can spend three hundred dollars a month on just like you are now than you. I think that's exactly what you should do. Because you're Chicago since wow I mean. I'm thinking should go to do that. I'll tell you where she's GonNa do that. The Oprah producers actually found for you some. Suv's in her area that are approximately ten thousand dollars. If she and she they must be used of course there you go right right of course but then that meets her needs and the truth of the matter is if you decide. You don't want to do that and you just want to keep the car that you do. Have you can negotiate big time with them right now when you turn it back in. But here's the rule of thumb. Everybody if you're going to finance a car do not finance a car for more than three years. If you can't afford the monthly payments on a three year loan you cannot afford it. Start working overtime now over time. Now Save money so you have a little money you can put down. Get yourself out of credit card debt and when the time comes girlfriend you're going to be driving down those streets in the middle of the night with heated with a heated little push and your leather heated seats. And you're going to feel safe in a used. Suv Thank you. This has been great fun. Wasn't this interesting only two out of three times one out of three. That's but it gets US thinking about what you can or cannot afford. Yeah and just no. If you can't afford it just don't buy it. Isn't that simple? You bet it is by everybody. I'm Oprah Winfrey and you've been listening to the Oprah Winfrey. Show the podcast if you haven't yet go to apple podcasts. And subscribe rate and review. This podcast. Join me next week. For another Oprah show the podcast. I thank you for listening..
"suze orman" Discussed on The Oprah Winfrey Show: The Podcast
"We're not saying this is your but I'm saying everybody WHO's nodding their head here and says well. I wonder how much my deficit every month is or hadn't even look because most people as we've seen with many shows with you in the past they don't look because they don't really want to know and as long as Hannah could actually charge on a credit card. Pay The minimum. Every month. She could afford to continue to live the lifestyle that she was living because she could so. Suzie met with Hannah and her mom. Lois before I can solve you financially. We have to find out. Why did you make the wrong choices to begin with? I don't know you are not allowed again for the rest of your life but definitely in my presence to use the words. I don't know you absolutely no. You absolutely know why you choose to get manicures all the time why you choose to buy a snowboard when you are behind payments on your student loan. Don't you dare say again. Please start over now. I spend the money on things. I know I shouldn't spend because I think I'm young and still have time to fix it so I know that I'm getting further in but I think it's okay because I can fix it what I want to. You are lying to yourself. You are lying so that you can make a justification as to why you bought a fourteen hundred dollar bed why you drive a car. I have gone through every single penny that you spend. These are the most horrible fico scores. I have ever seen every time you decide to pay your rent versus your student. Loan a bed versus your student. Loan eating out versus your student. Loan what you are doing to yourself is really committing financial suicide. What has prevented you from getting a job in the area that you got your degree in have no interest in it. I don't care not an acceptable. Answer Hannah do you have interest at working at starbucks for the rest of your life? No you don't have interest here. You don't have interest here. Why are you choosy to go here? Rather than here. Why because of delays you to look for a new job Bingo. Thank you for being honest and good. Feel good wow so what's happened. Since obviously that was extremely difficult to talk about and have on national television. I had to go home to my roommates and my friends and tell them what a financial disaster I really was. She had set the record straight. That was a lot so when I was honest about what kind of trouble. I was in financially. I made the decision to get my car out of Boston. I want to sell it but I knew that keeping it in Boston while I tried to sell it was expenses that I really couldn't afford so the cars now in Florida saves about. I've cut about seven hundred dollars off my monthly expenses in just three weeks. So pretty excited about that. I no longer get manicures. Pedicures I'm doing the myself. My friend cuts my hair for free. It's an an expense. I no longer have. I Walk to work. Bring my lunch and definitely not ordering in not going out. I didn't celebrate my twenty fifth which called my mom and tears because it's a day that I had looked forward to and wasn't able to go out eight stop. She celebrated her twenty fifth birthday but not by eating out and going further in debt. How did you celebrate your twenty fifth birthday? I'm starting my twenty fifth year off in a good place. I'm moving forward and getting myself came over and cooked for you. They did. I was just listening to this and I hope everybody else is listening habit listening with us since of discernment even before. I knew that suzy had that talk with you. Which was a real smackdown. You handle that. We did great though. We're now getting it out but I thought what was so interesting. You are crying because you can't get a pedicure. You're crying you're saying I can't. I can't get a pedicure and it's so hard it's so hard I feel. I feel liberated now that I don't have my car. I'm not worried about getting parking tickets because I have to move my car every two hours you know. I'm walking everywhere. I noticed my surroundings a lot more. I'm just a big weight that's been lifted off. And it's just from you know getting my car out doing my own manicures. Pedicures thought was interesting in not not to pick on you just our example for everybody else to help us ourselves more clearly is you're you're you're bemoaning the fact that you can't keep up with the Joneses right. You're not even talking about anything of real value. You're saying I can't be around my friends. Who because they're doing this and then they'll think that I'm not? It's all about status and that which it wasn't real to begin with. Yeah the pretend that so now. The question that Hannah has his can afford to stay in Boston. She has cut her expenses down dramatically. Now she's really only about three hundred dollars a month in deficit versus what we saw before her income is still two thousand and ten dollars a month. Her expenses are still about twenty-three hundred. She doesn't have a car payment anymore. We're three hundred dollars a month in deficit however Boston is the number one place according to Forbes to live for utilities for oil the most expensive place. So you everything's GonNa go up that way for you. So the question is with a three hundred dollar a month deficit. Everybody can Hannah afford to stay in Boston or does Hannah have to leave Boston and move home with her mother in Florida? They're great friends their best friends. Mama wants it. What is that what Hannah needs to do? Now you are all going to be shocked and I'll tell you why I've approved you to stay in Boston and let me tell you. Why twenty five year old has made some of the hardest decisions in her life. She has chosen honesty over deceit. She has chose to do things now. Out of integrity versus impressing everybody and irresponsibility to herself. You need to be rewarded for that. Now we have you on in my opinion. A three month probationary period. You have kept your word to me more. Importantly you kept it to yourself. You need to make more money. You need to look for a job there. You have three months if you can pull it together and I know you can stay if you can't Mama move on over surprise right shocked shocked so am I because I was out of there man I. It's not just based sometimes on money. Look how great she's done and when you see somebody pulling themselves up. That's not when you get a smackdown from susie. That's one like you are going for it. You are going forward and I have to let her try to go for it and I think you're going to do and so what you're saying. Go for it but give yourself a time limit. We've got three months months. Thank you Hannah. Thank you thank you. Joanna is a second grade teacher. She is single in her thirties and she is not waiting around for Mr Right to buy her. First House. Good for you. That's what the movement was all about joins us from our home audience. John what you WANNA buy High Oprah. I'm actually interested in buying my first house It's always been my dream to have a family and so I'm looking to buy a home so that I can adopt a child or two and I just WanNa know if I can afford a home right now. Okay good I say. Here's the question Joanna. Show me the money okay. Well I have a monthly income of about two thousand nine hundred dollars. My monthly expenses come to about eighteen hundred dollars. I had eight thousand five hundred dollars saved which doesn't include retirement or money to get me through the summer when I don't have an income and Right now my utilities and rent come to nine hundred fifty dollars so can I afford to buy a home so you want to buy a home for approximately one hundred fifty thousand dollars. Is that correct? Yeah I so the question then becomes everybody before I render my judgment. Which is we have a monthly excess. That's pretty good of a thousand dollars a month here. She has a great little emergency fund. Find she wants to buy one hundred fifty thousand dollar home which means mortgage payment and everything will be about twelve hundred dollars a month when it said and done K. Putting down how much putting down Oprah wants to know how much are you putting down Actually I ran some numbers and the with the New Jersey Grant I would need to put down about five thousand dollars our to get that money from that would be from the Emergency Fund. Good question good question of are you going to put down five thousands of then you're only going to have thirty five hundred in your emergency fund. Next question should be. What are you going to use for closing costs to move? You are denied and the reason is this. You can't use your emergency fund to put down as a down payment on a home because if anything goes wrong you have a refrigerator that breaks your heating breaks you get flooded. Whatever it is you have no money to get you by. So the rule of thumb is this. You need at least an eight month. Emergency Fund besides your down payment so that if something goes wrong you have a place to go and continue to make the mortgage payments so that you don't lose everything that you have so I'm sorry to say you're not quite ready to do it. However here's the good news. Real estate prices in my opinion aren't going anywhere right now. Now they're gonNA stay right about sorry real estate but they're gonNA stay approximately where they are. Just keep saving. Just keep doing exactly what you're doing and then when you're ready you'll buy a home that you really can afford an enjoy because I got news for you. If you buy a home that you can't afford it's going to be anything but enjoyable. Trust me on that one is time for other people who do have the savings account and they do have a little extra cash is this. Is this a buyer's market now? I will forever believe that buying a home. You can call your own an any market if you can afford. It is a great investment. Because why you can't live in a stock certificate right. Joanna bring you some relief so you need to do a little more work building up that savings account. So you're not barring the money for the savings account for your down payment. That's that's what Suzy's saying and I agree with that. Okay so the interesting thing about Joanna is that she'd already been approved. Although suzy denied her. She's been.
"suze orman" Discussed on WBT Charlotte News Talk
"Because yeah that's going to allow us to defer those taxes until we get older one would probably be in a lower tax bracket for personal finance experts Suze Orman tells NBC that you should now put that money in a wrong account probably instead because you don't have to worry what the tax brackets are going to be twenty thirty and forty years from now I personally think they're going to skyrocket over the years so therefore what you see is what you get in a Roth IRA or Roth four oh one K. so she thinks taxes are going to skyrocket in the future that's aggressive but I guess it's something we need to plan for dolls absolutely people think that when they get into retirement the other tax practice to get lower when we run our tax map software a lot of times it's true a lot of times it's not all times are not they're paying more taxes they don't realize it because most of the money they saved I've been in for one K. four oh three B. as in money IRA accounts of the but deferring either they have a they have deferred Roth IRA raise they haven't used non qualified in new diss tax deferral at the same time to control their tax bracket mean death and taxes are two things we have to enforce we deal with but if you have the three buckets set up the server goes into this a lot I really like her when she talks about the three buckets of retirement having your taxable bucket having your tax deferred bucket have your tax free bucket when you use those three buckets together it's a lot three control your taxes then you can do it from year to year I mean the trump tax bracket right now three twenty twenty five is pretty darn low everywhere and like an all time low and some taxes and a lot of people were doing that didn't open up roster doing Ross conversions and it's not a complicated stuff from working with a few people right now a Raleigh that are doing this and it's when it's done they're like wow they've they see the benefits of wow ten fifteen years from now this money gets going up there I don't have to pay taxes on it that's huge mean book California feel bad for some people California was just with a client not entitled the other day and he has as much large company he opened up in a small office with one employee who is paid forty five thousand dollars in California and they came back at the end of the year two thousand beginning of two thousand eighteen with the tax bill here to pay forty thousand dollars to have the forty thousand our employees you know what office it is just terrible I mean it's just don't be naive don't be gullible when it comes to thinking that taxes are going to be in your favor down the road because April fifteenth sixteenth seventeenth whatever your date falls on is one of the most dreaded days for a lot of people in this world when you don't have to buy a TV Kristen's room the team is three hundred dollars let's say and then that the bill comes in it's like three hundred forty or like what the heck send about that's forty dollars in taxes now just think cost of TV's are going down for fortune about that but phones and other things you're buying an Amazon or personal life those are getting more expensive and those things are getting more expensive through inflation which cost what major paying more taxes in that aspect the food restaurants as a restaurant here Charlotte's will best restaurants I won't mention it the prices have gone up like twenty percent over the last two years which means you're paying more for the food which means you're paying more in taxes to have that food so find out where your tax will bucket is where your tax free bucket or text for bucket is because knowing about a Roth IRA we have a lot of paperwork we have brochures we hand out on a daily basis how Roth conversion could potentially right for you not to have to pay taxes later in life taxes are a big deal in retirement every single day of the year just liked all set it's not just a full you have to be paying attention to it's all day every day but here's the thing it doesn't have to be your full time job work with a financial professional they can keep you in the loop about things like that and our Indies Dolph has some retired tax planning software that he can input your information in and create a personalized tax mapping report to make sure that you are being a fission now with your taxes and retirement and for the future if you'd like a personalized tax mapping report complementary call before the end of today show set up a time to do that with dolphin the team.
"suze orman" Discussed on Newsradio 970 WFLA
"Retirement you need a plan for that and I wondered if you could explain about a withdrawal strategy in retirement having a plan for that why is that so important all my gosh that is so important because the ball game has changed it has absolutely changed it is the exact opposite of what it was say ten twenty thirty forty years ago so here's what our parents did and here's what almost all generations did that retired ten years ago and going further backwards they took income from their portfolio you see Meghan there's there's two different types of plans you can have an income plan or you can have a distribution plan and I think it's really important for all you listeners out there very very important that you know what the difference is and if you're working with an adviser I certainly hope that they've explain to you the difference between an income plan and a distribution plan an income plan you retain your wealth so here's an example you've got say half a million dollars five hundred thousand dollars saved for retirement and if you average of five percent rate of return every single year you should be able to withdraw twenty five thousand dollars every single year and retain your wealth all right so we're retaining our wealth so a distribution plan is going to eat your wealth we. we need more than twenty five thousand dollars per year or let's say we do need twenty five or maybe twenty eight or thirty thirty two but we don't care about eating into the principle so as long as we get the distribution every single year were okay but here's the problem the industry and financial advisors call this income and it's not income it's a distribution for example there's a guy on the radio who says what if I were to tell you if you could have. seven percent income for life or you could grow your portfolio at seven percent per year and what if I were to tell you that you could get income that is guaranteed for life and not only that if you passed away what if I were to tell you that you would have income for the surviving spouse for life now that would be real security and the first time I heard this Meghan I'm driving around in my car yelling at my radio saying that's not income that's distribution you are eating your wealth there's a big difference to her yeah there's a huge difference because if you're the type of retiree that to or couple that says you know what when we retire we only want income from the total we want to leave the principle to the kids so where are you going to get retirement planning advice do you think Suze Orman could build a good plan for you do you think Dave Ramsey corridor or maybe if you watch a Jimmy Cramer on TV and he talks about buying and selling stocks or perhaps on on HSN Clark Howard would give you advice on retirement planning you know what I think they all give very good advice what they give something that's a little bit different than what we give here you see they give blanket advice and their advice is for the thousands maybe the hundreds of thousands of people that are listening at that time you're the Holland group we give you customized individual advice advice that. you can look at and say yes this is for me we will build.
"suze orman" Discussed on 710 WOR
"By another listener friend so two of my favorite listener friends emailed me or send me the same article so it's getting some traction so Suze Orman I I have yet to really challenge her on air because she so loved she's attractive she's vivacious she has a nice tomorrow people first then money then things the end and she's great on the subject of women's empowerment of finance but it has to offer with financial Talking Heads they comment on things that I do they don't know about or maybe they are they do agree with it but they you know but they make it sound like a product is evil let me be clear here project products or all moral they are neither good nor bad now certain particular types of products can be bad because of higher fees or this or that so the article says and I'd love to get her on to debate but you know we'll say Hey let let's get Susie on cal let's let's ask her to come on the show I would challenge her to a debate any time on this subject because I Boettcher she probably has some insurance even though she's against it now the question is Susie I was told that this life insurance product was a better investment than my four oh one K. four three B. or IRA and then she says if you could only see how.
"suze orman" Discussed on Listen Money Matters
"Of your family to save money to put money away for retirement in case anything were to go wrong. So it just depends. Pens, but you know, hopefully you're in a situation where you could stay home, but if you can't, it's okay. There's nothing wrong with that. I always have a saying, if you have too much on your plate, just get a bigger plate. I have one question to kinda pull in the divorce piece. You'll looted to earlier from an awesome listener. Diana if a married person is not the breadwinner of their family, what are some smart financial choices they can make to be prepared in the event of a divorce or a tragedy. Those things especially women being out of the workforce. Andrew, you got one minute to let me answer here. God, these boys like to talk a lot. I thought I talked a lot. Might be cool, maybe. I'll know. So here's the thing, Diana, you should always have your own account with your own money. You should always have your own credit cards. You should absolutely know where every single penny that he or she, because it could be, you know, a female spouse here. We're all of that. Money is going. You should check your tax returns, your joint tax returns before you sign them. Because if there's any fraud going on, you will be responsible for that fraud. And if you're going to split bills, you need to split them in the same percentage but not equal amounts of money. I will give you an example because you just have somebody who's making more money does not mean they should have more power. And if that person feels like they have more power, you are already heading for divorce because if somebody thinks money defines them, they're just an idiot. You define your money. So here's the example. He or she brings in seven thousand dollars. You bring in three thousand dollars and you have three thousand dollars a month jointly expenses. Mainly what people do is they split it. You do fifteen hundred here. She does fifteen hundred. However, fifteen hundred is fifty percent of your money. Fifteen hundred is only twenty five percent of their money that's not equal. So what you do is you add together the seven thousand and the three thousand that's ten thousand dollars. You divide that into the three thousand your monthly joint expenses. That's thirty percent. Thirty percent of three thousand is nine hundred dollars. Thirty percent of seven thousand is twenty one hundred dollars. There's your three thousand dollars. So it's equal percentages, not equal amounts of money for those of you who are not married yet you better think about a prenup right boys. I love talking to you. Thank you Susie on. All right. Listen, we want to respect your time, but I I wanna thank before we close things out. I want to thank all of the listeners who sent in their questions. I wanna thank Dianna Rebecca. Stephanie Claire, and everyone else in the audience who reached out via our Facebook posts in our community. And on. I posted it privately on my Facebook community with posted it in the community. So I just wanna thank everyone who sent in those those questions and we weren't able to get to all of them. But I'm glad we got to at least a few of them that were really important. So if you missed anything in this episode, we'll have everything in the show notes. Don't worry about that. Every link every everything we've talked about there are gonna be listen moneymatters. Yep, you can. You can either check your preferred podcast app or you can visit with somebody matters dot com. Slash show slash show. It's going to be a tough one for me to say, police subscribe wherever you normally listen to podcasts and please tell your friends about it about this episode, hey, Suzy human humans here. So. Point them to your favorite episodes? Probably this one and hopefully they'll become a subscriber to if you've missed anything in this particular episode or do you think we missed anything in this episode? I want you to join the list moneymatters community on Facebook so that we can continue the conversation there because this is a very, very big topic and we we did it in such a short period of time, and I want to cover this topic more in future episodes. So please get into the money matters community, and let's talk about it. Let's ask more questions. Let's get some
"suze orman" Discussed on Listen Money Matters
"To know you can have more, but only if you can be more within who you are courage to have a conversation with your children that you might not be able to pay for their college education. And if you're out there listening and that's the situation, there is nothing wrong with that. I will forever. Thank my parents for poverty because of what I saw with money and what I learned, what it's like when you don't have any. This is why I stand here in front of you on this microphone today. And so those are the things I know we only have a few seconds left here. So asked me one or two more questions, and I gotta go boys, let's get. Let's talk about the community because I think we got a lot of questions from our female listeners, and I thought that was appropriate for this episode and there's we have a lot here, but I guess if I had to choose one, I wanna talk about, you know. Kids specifically. Yeah. So. Does it make financial sense to stay home with kids because daycare would cost more than a mom would earn, or if the damage to her future earnings with sacrifice more financially, I would never put money before a child. I always say people first, then money than things. And in that situation where daycare costs more and staying home with the child, if you have a choice and you can do that, and I would say stay home with the child because money can never replace those years. However, if you're in a situation where you are making more than daycare or more than a nanny, then we have to think about it in terms of what that does in terms of your future because you need to be able to make at least enough to also take care.
"suze orman" Discussed on Listen Money Matters
"Like I said, you. I need the promotion and you feel like I need it. I want paycheck away and you're just like, please give it to me. Can you imagine what it feel like if you had more money, if you were able to say, f you, are you kidding me? So there's like this adage, fake it till you make it right and clearly Suzy at this point in your career, you could ask for anything and they would say, yes, please, can I give you more because you're Susie and you've built that reputation, but what if you were the woman or men who was like on the brink of bankruptcy, they super new, the job, and they are absolutely being pray essentially to whether it's a boss or whatever the situation is, how do you? I don't know. I don't know if the answer I'll give you the answer because you obviously don't necessarily know my background. I was, I know your background so you. I was a waitress till I the buttercup bakery that for seven years I was making four hundred dollars a month. You knew that I was the first woman that was hired in the office Merrill Lynch in Oakland, and the manager told me he was going to hire me essentially to fill his women's quote. I already knew that kind of and he told me that women belong barefoot and pregnant. Did you know that. But not everyone knows and I want to I. And so here I am standing in his office and he's telling me remember, never had any financial background. Don't have a pot to paean. It's like, I'm like, I want this job. I need this job because the customers at the buttercup bakery had lent me fifty thousand dollars to open up my own restaurant and a crooked broker at Merrill Lynch lost all of it. Now I don't have any money to pay them back. So I need this job. And so a man tells me it's going to make barefoot in pregnant, right? And I go how much you're gonna pay me to do that. He's at fifteen hundred a month. He said, but trust me, Suzanne, I'm going to fire you in six months now because he said he was going to fire me in six months. I already knew that was nine thousand dollars, which take me two years to make the buttercup bakery. Now I'm studying to be a financial advisor at Merrill Lynch and the rumors around that. The manager sleeps and the sales manager with every secretary in every buddy in there. And I, that was of the female sex, and that will be expected of me. This is nineteen eighty and I should expect that. So because I already knew I had nothing to lose. They told me they were going to fire me, and even though I wanted the job, I didn't need it that much. I went right into his office and I said, listen to me if you ever approach me in a disrespectful way, I am going to cut your pecker off. Do you understand that heaters Vero and he assembly not say his name or anything. I say. I, I now I think I've heard he's dead because I've said it so many. It's, you know, so so it's it was like I came from a place of Southworth and power and and the rest is history. You know, I ended up suing Merrill Lynch while I worked for them. Got you know, when on by the time it came to court because I sued them, they could fire me, but I place of power everybody. So it's your choice in life. I can sit here and talk to you far more powerful today than I was back them, but you have to have self worth in order to have net worth. And the entire goal of the women in money book is to instill you with that help..
"suze orman" Discussed on Listen Money Matters
"Place like it should be you become far more powerful and when you're working at a place that undervalues what you do than I'm here to tell you the world undervalues who you are and that's when you have to make a choice in my going to stay where people do not recognize my value or. I going to say than that's it. I'm going to find a place where I can spend time where people don't play with me where I'm more than just a bottom line and I'm good to see what else is out there. Now you don't quit on the spot, but you start going out and you start interviewing and you see what you can find and what else is out there. You just don't settle for less when you limit anything. You limit everything. The very first year that I was on CNBC with the Suzie Ormond show. I worked that entire year on that network without a contract and like the contract that they had offered me. But I was in a position where I already had a lot of money. I already was totally fine. I was kind of doing it because let's see what can happen because I love being on the air and I love television. And so they were like really like they were like within one year it was the number one rated show on CNBC. You can bet your booty that the. Second year, not only did I get paid for the first year and the other years and the bonuses, but it was well worth my while. Now what allowed me to do that? It's because I followed my own financial empowerment plan. That's in the book. I made sure that I didn't need that job. I wanted that job when you need something and you're one paycheck away from bankruptcy, you have rendered yourself powerless. And when you are powerless, you repel people, they know they have you. I mean, do you know that all the men that prey on all these women, they target, they're like predators, they target women that they see are powerless that are kind of the week, simple, fabulous women, and they just go for it with them and they target that. Do you think they would target these really powerful women and they'd be afraid to so women, what's rendering new powerless? What's making you? Meek, chances are in my opinion is you need the job..
"suze orman" Discussed on Listen Money Matters
"The promo code l. m.. Mm. All right. We are back so I get the fear piece. I mean, you said, like if I get on the stage of the Apollo and I certainly could not do that, but but what you're suggesting is is you just have to push through it and and ask for for what you are afraid to ask for, ask for what you're worth now. Obviously, you have to lay out the reasons why you should get a raise do attack and do attack. But I think the question is not can I have raised and then your boss says to, you know, and then what are you going to say? You say, I have a fifteen or twenty percent raise. Could you please give me a fifteen or twenty percent raise? So specifics why? No, it's like you give them a choice. It's not a, you never give anybody a yes or no answer. It's all a question that can be answered in yes or no. You always give. Them? Well, can I fifteen or twenty percent now what your boss going to say to you? It takes a strong boss to say neither. It's very easy if you say, can I have a raised for them to say, I don't think so. No. Then you have no comeback, but you have to really, here's the key. You have to make those that you are dependent on a paycheck for dependent upon you. Once somebody is dependent upon you, you can write your own ticket. Like Lawrence boss knew how much Lorne was worse. She spent a year proving to them what she can do for that business. And even with a three thousand dollars a month raise, she is still totally undervaluing herself because she could have really should be making two hundred fifty, five hundred thousand dollars a year like she used to be making. So it's do you understand. So you have to have that faith. Now, what was what happened to Lauren from the time that she asked? And he said, well, we'll see. We'll talk about it when I get back to when she talked to him twenty four hours later. And he said yes, on the spot and was her conviction and her fearlessness and her powerlessness that she was able to step into her powerless, her power rather than her powerlessness right. Susie, say it's early. Whatever. That's like, and so it was her conviction in her belief in herself with the intensity people. Then I'm talking to all of you about that. Transformed his answer to her, so. So that is super empowering and inspiring story. And I think that it's easy to to hear that and then be confident to go out and do it. And I think the unfortunate side is that a lot of times and is not only women, although I imagine happens maybe more to women is that they go for it. And perhaps the boss like literally shuts them down says, no, and we're or punts it, you know, exactly. Let's talk about it in three months. One thing that I always thought was interesting is if you like interviewed for a job and they're willing to pay you more knowing you for like two hours over someone who's been working with you for years. Like you'd be crazy not to go. So if a woman asks for what they believe they deserve, and their bosses and come back and say, not fifteen, I'll give you five or they say like, no, what do you think they should? Do? You know there comes a time in every person's life, not just women men face this as well. And that is why it's important within the women and money book to follow the financial empowerment plan. Because when you have no credit card debt, you have an eight month. Emergency fund have been saving in your retirement account. You've got everything in.
"suze orman" Discussed on Listen Money Matters
"SEO tools for doing keyword research and website optimization. And and I mean, I dunno, Andrew, what do you think about it? 'cause it's like, I don't know if I could live without it to be honest. I don't know if I could do business with that. I'll tell you what the whole ranking and Google thing is like this voodoo Laba blah, a horrendous for me really like distills down to like what needs to actually be done. Yeah. To do well. And so like so, well, we've coda fide it built a team around it and I'm almost completely removed from the entire process. I know it's funny like you're such a big data nerd and I feel like it's like your crack. It's just so much data, but it's in a very well put together suite of tools that makes it easy to sift through and gain insight into what your competitors are doing, what your own websites doing, how it's doing all those things and the interfaces. Awesome, really intuitive. Yeah, it's really smart and I like the colors because I'm a huge fan of orange and blue. So Arctic for me. And yeah, I use it for a three of my websites which are all in there. I track a bunch of key words. I know where my websites rank in Google. I know what keywords the ranking for. I know what my competition's doing. I know if they do something it's time for me to do something and do it even better and outrank them, hopefully. And do. I mean, I don't know what else to say about it. Besides, like if you want to run a content based online business, a blog or whatever, and you need traffic from Google. You have to use a tress. You have to get it. I'd be amazed if you were doing it without sesame of research tool. Yeah, and we were doing it without it for awhile and just like you said, a crap shoot, you know, but was right at once we started using it, everything became much more focused and grew. We grew much faster for sure. So listen, if you are out there and you want to build a business like this, here's the deal. You can actually win a free light annual subscription of h rafts..
"suze orman" Discussed on Listen Money Matters
"And by the way this book isn't just for women. This book is really for everybody, especially the men who have women in their life to understand why women are different than you emotionally speaking, what they do with money and that if you can come together as one with the woman in your life, you're not going to end up in divorce. Like one outta two couples do today with arguments over money. So I wanna talk about the divorce elephant in the room. But before that, I think you made. A killer point. And one of the things you allude to in the book is that women perhaps might be undervaluing themselves. And I guess my question to you is what is it really mean to Val yourself? Because I, I would guess that if I went out and asked a bunch of women, if they said they if they value themselves, they would say, yes. And I said, no, I don't think so. Don't ask them if they value themselves asked them if they're getting paid as much as they want to ask them if they charge their customers as much as they want to ask them why they don't. So obviously I spent time in New York and I'm used to spend in a lot of money on a haircut in hair-color. I come here to Florida. I go the other day to this woman and she spends three hours fixing color job that somebody else screwed up on the okay. She spends three hours fixing the color. Job re cutting my hair, giving me a condition, and you know what the Bill was with product that she was going to send me home for one hundred thirty five dollars. And I'm like, what is wrong with you? You've just spent three hours with me and she said, Suzie. I'm afraid to charge more now. I ended up giving her a three or four hundred dollar tip because really when you spend that kind of time with some. Buddy charge for yourself. I said, why don't you? She said, I'm just afraid. So give you an example. The other day mine isse Lorant she's a shoe designer. She's working in New York City and she feels like she deserves a raise. So she talks to her boss wants a three thousand dollar a month raise because of everything that she's doing. And this was one of the top designers for Kevin call at all the Kenneth Cole and all these companies awhile ago and took a break, and now it's come back. She's worth every penny of it. Even if that their bosses like maybe, yes, maybe, no, we'll see. She went to see the women and money talk that I gave at the Apollo that night. She went home. She sent an Email to her boss who's in Europe, so timezones worked than and and called and it was she demanded the three thousand dollar raise because she was empowered. She got it on the spot. He did not hesitate. So when. A new start hanging around other powerful women. When you read powerful messages that ring true for you and literally change your financial molecules within your soul, then you stop putting yourself on sale..
"suze orman" Discussed on Listen Money Matters
"But what's interesting is that, you know, even there I was being might buy a man and then all of a sudden it was like no of woman better bike me like everybody now is so afraid to do anything wrong. So the message is starting to get out, but there are still things that are going on. There are still things that are coming out about people and not all men have gotten it yet. So it's very simple men. Usually the way they've been raised, get it right when it comes to money, women, do you know they just, they're givers. They just always say yes and it's their nature not. Yes, just to the sexual stuff, but yes, sister you can have this five thousand dollars that I've led you three times that you've never pay me back. Even though I don't want to give it to you, a man would say, no way. Don't even ask me again. Are you kidding me? Yeah. I mean, I wouldn't say all men because I've definitely given away a lot of money to friends and you know, have been burned a few times and what you do it again. No learned my lesson. Well, guess what? Woman doesn't necessarily learn her lesson. Why is that? Is that because there's not in place for that now it has nothing to do with education it has to do with in my opinion, women do not say what they are thinking. They do not do what they are feeling. They say, yes, out of fear of what others will think about them versus no outta love for themselves. Women give of themselves more than they give to themselves. Women do it all. They're the ones that are volunteering. They're the ones who are taking care of the parents in most cases that kids that pets, the plants, everybody women do it all. So if it's. By nature. What can they do to not necessarily combat their nature, but perhaps do what? Because I think that some of the most endearing qualities of of women and why they can be successful as they have these attributes that men don't. So how can they use these to their advantage and a year. So cute I sent, but I have not let any of them see knee, but here's the thing. I'm not asking you to change your nurturing ways. I'm asking you to turn your nurturing ways onto yourself, especially single women out there that have kids. They make sure that their kids are totally dressed in a great way that they're going to school and their school's been paid for. And yet they don't have a pot two PM. So it's not about changing your.
"suze orman" Discussed on Listen Money Matters
"She's an author, financial advisor speaker, a television and a podcast host. You probably know her best from her guest appearance on season six episode, five of the hit television program, thirty rock starring note. Okay, I'm just I'm just getting that that is an accurate, but it's my favorite. You probably know her best from the Suzie Ormond show or one of her six consecutive New York Times bestsellers, and let's get it straight line rights. You gotta get it straight now and what are you talking about? Thirty rock and she watch Saturday Night Live eight times Kristen wig in personnel and me and urine profile. I just boat. And what is this that it's early? What did it about book I drinking at nine out for like God knows how many hours I should be going sleep by now. And the boys just got up and they're drinking. It's early for drinking, but hey, if if you don't think it's early for drinking, then by all means next time I'm not gonna say that no problem. All right. Nine, nine consecutive New York Times bestsellers, and her latest book is a revised and updated two thousand eighteen version of her popular bestseller women and money. Suzie. Orman welcome to the show. Thank you. And I'm happy to be here because you to sound is crazy. As I know I am. Thank you. That is a that is quite the compliment. I will take it and I'm going to take beer shit. I'll take. I'll take some of my herbal tea. Boozing it a little. Let's. You know when in Rome. So let's start off by asking the question about why a book about money just for women. What do you think are some of the biggest personal finance differences across genders for that? Let's get real. Have you been watching the news lately? Have you been seen all the sexist stuff that is going on. You have been violated the metoo movement now, obviously not everything happened that was related to money, but if you just think about it, everybody, why did many of the women do things that they did not want to do who would have wanted to do with Harvey Weinstein? Are you kidding me? I've seen in person. You have got to be kidding. That's a nice way to describe him. But the truth of the matter is is that women will do anything to take care of their families. Women have the ability to give birth. In most cases, they have the ability to feed that which they've given birth to in most cases. So it is their nature to nurture sweethearts. They will go out there and they'll make more money than you have ever even seen in your life, but they will take that money and they will make sure that everybody else is nurtured with it. And then by the time they are fifty sixty years of age and all these crazy things have happened to them, they will say, what about me? Women can be as powerful as they are meant to be. Women can have the ability to say, no, I'm not doing that with you when they know they don't need the money, you will say, yes. If you want the job, the part, the promotion, the pay. Say to take care of your family, but if you have money, if your powerful over the money that you have, you have the ability to say, are you crazy? So the time has come once again for me to say, all right ladies. You're finding your voice and speaking up and say me too. Now, I want you to say money as well. What do you think that is specifically for women as opposed to say any other gender? Well, the only other gender that's out there is the one that's doing it to the women. You know. So I don't think men have to worry about it too much then are used to for years now. This is obviously changing where I was. I gave a talk the other day in pointed. I've rocked the house to a sold out crowd at the Apollo, which by the way we'll brag. Humble brag, you stand on that stage and you do what I did that night boy. Get up there, but it will be shown Tober first at eight pm on the Oprah Winfrey network. So all of you should Mark your calendars to see house that was Rockin about money..