Suze Orman
Suze Orman
Susan Lynn "Suze" Ormanis an American author, financial advisor, motivational speaker, and television host. Orman was born in Chicago and pursued a degree in social work. She worked as a financial advisor for Merrill Lynch. In 1983 she became the vice-president of investments at Prudential Bache Securities. In 1987, she founded the Suze Orman Financial Group. Her program The Suze Orman Show began airing on CNBC in 2002. In 2006 she won a Gracie Award for Outstanding Program Host on...
NationalityAmerican
ProfessionAuthor
Date of Birth5 June 1951
CountryUnited States of America
While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.
If you can't afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can't afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled.
A reverse mortgage is available to anyone who is at least 62 years old and owns a home outright, or has a small mortgage balance remaining.
Courage is not always about action. It takes courage to do nothing rather than do something that you do not believe in or understand.
Raise your auto and home deductibles to $1,000 or more, and your premium cost falls at least 10 percent.
Sometimes your mind lets you do things with your money that make no sense.
We never had it as rough as the kids have it today, ... Look at the price of a gallon of gas or a piece of real estate or a college education.
Give a portion of your money to others. By releasing an anxious grasp on your money, you will open yourself to receive all that is meant to be yours.
Learn to recognize true wealth. Money itself will not make you financially free. That comes as a result of only that powerful state of mind which tells us that we are worth far more than our money.
One journalist estimated my liquid net worth at $25 million. That's pretty close. My houses are worth another $7 million.
Money is kind of just like air - if you don't have air, you can't breathe. If you don't have money, I don't think you'll want to breathe - you won't want to live.
My greatest pleasure is still flying private. I spend between $300,000 to $500,000, depending on my year, on flying private.
You have got to be the masters of your own financial future.
I'm a big advocate of a work-for-pay setup rather than an allowance that isn't attached to chores - it's a great way to impart the value of money to your children.