Suze Orman, a renowned financial advisor, author, and podcast host, has an estimated net worth of $75 million. This impressive figure is a testament to her successful career in finance and media, as well as her savvy investment strategies, including smart real estate purchases.
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Who is Suze Orman?
Susan Lynn “Suze” Orman is an influential figure in the world of personal finance. Born on June 5, 1951, in Chicago to Jewish parents of Russian and Romanian origin, she has made significant strides in financial advising, writing, and media appearances.
How Old is Suze Orman?
As of 2023, Suze Orman is 72 years old.
Education and Early Life
Orman attended the University of Illinois at Urbana-Champaign, earning a B.A. in social work in 1976. Her humble beginnings included her father working in a chicken factory and managing a deli, while her mother worked as a secretary.
Suze Orman Net Worth
With a net worth of $75 million, Orman’s financial understanding has not only been beneficial for her clients but also her wealth accumulation.
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Profession
Suze Orman is best known as a financial advisor and author. In 1987, she founded the Suze Orman Financial Group. Her expertise in finance has been widely recognized and sought after.
Business Failure
Orman’s career had a rocky start. In 1982, she lost $50,000, borrowed to start a restaurant, in a high-risk investment. This setback, however, led her to learn about finance, eventually leading to her career as a financial advisor.
Best Advice from Suze Orman
Orman’s best advice is to live within your means but below your needs. This principle emphasizes the importance of frugality and intelligent budgeting in achieving financial stability.
Suze Orman on Retirement
Orman advises saving at least 10% of your salary for retirement, aiming for 15%. Her approach is to gradually increase retirement contributions and utilize parts of salary raises to bolster retirement savings.
Controversies
Orman faced controversy with her Approved prepaid debit card, criticized for hidden fees and misleading promises. Additionally, she has been critiqued for overstating her credentials and achievements.
Personal Life
Orman publicly declared her sexual orientation as a lesbian in 2007. She has been married to Kathy Travis, also her business partner, since 2010. Orman has also been an active supporter of the Democratic Party.
Suze Orman’s Writings
Orman has authored several best-selling books on personal finance, offering practical and spiritual guidance on managing money. Her works include titles like “The 9 Steps to Financial Freedom” and “Women and Money.”
CNBC Show
“The Suze Orman Show” on CNBC, which aired from 2002 to 2015, was a popular platform where Orman shared her financial expertise. The show won several awards, including Daytime Emmys.
Multimedia Appearances
Beyond books, Orman has created financial education products and services, often accompanying her writings. These include CD-ROMs, financial kits, and identity theft protection services.
Real Estate Investments
Orman’s real estate portfolio includes a 1,200-square-foot apartment in New York’s Plaza Hotel, a condo in South Florida, and a waterfront home in the Bahamas, reflecting her investment acumen.
Conclusion
Suze Orman’s life story is one of overcoming early challenges to become a leading voice in personal finance. Her net worth of $75 million and diverse accomplishments in writing, media, and real estate investment demonstrate her expertise and influence in the financial world.
FAQs about Suze Orman
- What is Suze Orman known for? Suze Orman is known for her career as a financial advisor, author, and TV host.
- How did Suze Orman start her career? Orman started her career in finance after losing an investment meant for a restaurant, leading her to learn about investing and eventually joining Merrill Lynch.
- Has Suze Orman won any awards for her TV show? Yes, she has won several Daytime Emmy awards for “The Suze Orman Show.”
- What type of real estate does Suze Orman own? Orman owns properties in New York, South Florida, and the Bahamas.
- What controversy did Suze Orman face? She faced controversy over her Approved prepaid debit card, criticized for its hidden fees and false promises.
