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Financial Lessons From Suze Orman

February 13, 2020

The Principle:

What kinds of financial lessons can we learn from Suze Orman? What does Brian agree with her on in regards to financial planning and what strategy should you implement in your financial plan?

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes:

Well known financial guru Suze Orman used to be a financial advisor and has a history in the industry. She understands finances and has direct experience in a way that some other notable financial personalities don’t. She may be a bit in-your-face about her opinions, but what are some key takeaways we can all glean from her?
 
When it comes to annuities, especially variable annuities, understand what you’re getting yourself into. Just because a “nice” advisor sold it to you, doesn’t make it the best decision for you. Guaranteed income sounds great, but it’s not always the truth. You have to look at the numbers to find out if it’s the right thing.
 
Understand what you have and how it is working. What are the fees?  Having a planner that can give you an honest approach will help you make a strong financial strategy or retirement blueprint. Figure out what your risk tolerance is and make sure your investments align with it.
 
Not everyone wants the same strategy and that is okay. That is why you work with an advisor to make a plan that suits your needs.
 
Listen to the full episode or click on the timestamps below to hear more.
 
[0:17] – Suze Orman is a financial guru who is a big fan of financial planning.
 
[3:21] – When Suze had a show, she talked in detail about variable annuities.
 
[7:02] – Do you know the fees on your investments and annuities.
 
[8:16] – Find out why an investment isn’t working well for you.
 
[9:48] – What is your investment strategy and risk tolerance?