Suze Orman's Financial Guidebook by Suze Orman: 9780307347305 | PenguinRandomHouse.com: Books (2024)

FAQs

What is Suze Orman's most popular book? ›

Suze Orman is the author of the #1 bestsellers The 9 Steps to Financial Freedom and The Courage to Be Rich.

Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.

Per Carfax, cars lose 20% of their value in the first year of ownership and retain just 40% of their original value after five years. “Your goal should be to buy the least expensive car. Period,” said Orman. “That should steer you to a used car rather than a new car.”

1. To Kill a Mockingbird by Harper Lee was chosen as the Best Book of the Past 125 Years.

When someone has a net worth of over $75 million thanks to financial advice, your ears should perk up when she talks. Suze Orman has amassed such an amazing net worth thanks to her career as a financial advisor, author, and podcast host.

I refuse to eat out. I think that eating out on any level is one of the biggest wastes of money out there. A lot of people feel they can't save money right now. How would you challenge that notion?

"If you don't have at least $5 million or $10 million, don't retire early," Suze asserted.

Use the Roth 401(k) if it's offered.

I recommend the Roth option. If your plan doesn't have a Roth option, your strategy should be to contribute just enough to the traditional 401(k) to qualify for the maximum matching contribution. Then do more retirement saving in a Roth IRA.

Where does Suze Orman say to put your money? ›

Orman warns that if most of your invested money is sitting in a mostly liquid, cash-based account, it won't be earning enough interest to beat the rate of inflation — leaving you with little to show for it. Orman's solution is to buy stocks instead.

Suze Orman, the popular financial guru, goes so far as to say that “everyone” needs a revocable living trust. But what everyone really needs is some good advice. Living trusts can be useful in limited circ*mstances, but most of us should sit down with an independent planner to decide whether a living trust is suitable.

Because a replacement vehicle, used or new, is going to cost a hefty chunk of money no matter where you decide to purchase it (we're talking about quality vehicles here, not jalopies), the usual rule of thumb is that if the repair costs less than 50% of the vehicles value not to consider getting rid of it for a ...

There are plenty of ways to save money by living in your car. Living in your car eliminates one of your biggest expenses — housing. You also won't have to worry about the other costs that come with renting or owning a home, including utilities, decorations, and internet.

“Your cars, trucks, boats, motorcycles, and other vehicles should not have a total value that exceeds half your annual income. Why? You don't want too much of your wealth tied up in things that depreciate.

Suze has also mentioned that many companies or insurance agents try to sell whole life or universal life insurance policies to people just so they can earn more commission money. Suze recommends that you should get term life insurance and continues to add that most people should get a 20 year term policy.

And to go one step further, we recommend dividing your mutual fund investments equally between four types of funds: growth and income, growth, aggressive growth, and international.

The goal of money is to make you feel safe and secure. If a financial move makes you feel anxious or scared, rethink your decision, because it may be a wrong move. The first step to financial freedom is to get out of debt!