Wednesday, July 23, 2008

Suze Orman: The Financial Oprah of TV

Suze Orman has quickly risen to a new breed of sexy: financial feminity.

As the host of The Suze Orman show on CNBC, Suze works her money magic to provide people of all different backgrounds with tough love in the form of financial advice.

And she rocks at it. So much so that she nabbed #73 on Time magazine's "TIME 100" this year.

So, how does one rise to such inspiration and fame? Here's Suze's story, according to Wiki:

Orman was born on the South Side of Chicago, Illinois to Russian-Jewish immigrants Ann and Morry Orman. Orman came from a working class background and has said that she did not "grow up with money." She was an undergraduate at the University of Illinois at Urbana-Champaign, from which she holds a B.A. in social work.

In 1973, she and some friends moved to Berkeley, California, and she lived, for three months in a van on Hearst Ave. She became a waitress at the Buttercup Bakery. In 1980, a longtime customer gave Orman a loan of $50,000 to help her fulfill her dream of opening her own restaurant. Orman invested the money at Merrill Lynch, but four months later was broke again, after she was swindled by her stockbroker.

Knowing that she couldn't make the money back by waitressing, and having started learning more about finances and investing, Orman returned to Merrill Lynch and entered their training program to become an account executive. After she completed the training, she was hired by the firm and remained there until 1983 when she left to take a position as vice president of investments at Prudential Bache Securities. In 1987, Orman resigned and opened her own financial planning firm, the Suze Orman Financial Group, in Emeryville, California. She acted as director of the firm until 1997, when she stepped down as her writing career took off with the publication of her second book (there's eight total now).

What a neat story...I mean, she lived in a van for three month's for goodness sake!

My shoe is off to you, Ms. Orman! After all, you make it possible for me to not be the old lady who lives in a shoe. Literally. (thnx to CB)

I hate math. I hate numbers. If it wasn't for my accountant husband, I'd probably call my mom, crying and worrying about what "saving for the future" really entails.

But with Suze behind me, I feel hope. She speaks to me. And she gets me geeked about financial planning, mortgages (30-yr. fixed!) and car loans (never lease if possible!). Her show features a segment called "Can I Afford It?" which often reminds me: NO, I cannot afford a vacation to the Greek isles or an iPhone. I need to invest my money and not simply save it in an account where it will grow at a ridiculously low interest rate.

Tune into The Suze Orman Show weeknights at 8 p.m. EST to hear Suze's invaluable financial advice for yourself.

No comments: