Talking Money With Suze Orman
Four years ago when my first child was 11 months old, I started to draft wills for me and my husband using estate planning software. I got as far as the page where I was to designate a guardian for my son, and at that point I dissolved into unproductive tears and gave up on the project, vowing to return to it once I got control of my emotions. To this day, "draft a will" is still on my to-do list. So when Suze Orman came to town, I got a little nervous.
In January 2010, Suze came to Los Angeles to shoot a bunch of different television appearances and a series of videos for one of her websites. Because she is so intent on helping women get control of their financial lives, Los Angeles Moms Blog was invited to meet with her.
Liz Peterson and I visited the set of Suze's shoot to watch a bit of the filming and ask those burning questions we've always shouted out loud to the television but never had the patience or guts to call in to the show and ask. (That last part is probably just me.) I've been reading and watching Suze's work for years, deferring to her website and her weekly MSNBC advice show to glean hints about what decisions I should make. Lately I've also been communicating with her on Twitter, which she uses with surprising regularity and actually replies to people (she DM'ed me a few times to tell me she loves my cowboy hat).
I've often thought of Suze as a role model for grown-ups: not just for women, although she is very motherly and protective of women and champions the idea that women should and must take control of their financial lives. Suze's work applies to all people, and you often hear men calling into her show to ask serious questions. She's genuinely interested in people and also protective - when Liz and I introduced ourselves as the visiting "mommy bloggers" she instantly said "And are you making any money with your blogging?" and gave us that all-knowing look with her piercing blue eyes.
Our conversation about money and savings and financial products was pretty in-depth - luckily I had Liz Peterson, a financial whiz herself, by my side to translate. For more information about IRA's, interest rates, taxes, and blah-blah, see our personal blogs. We saved the most inspirational bits for Los Angeles Moms Blog.
Should married women, especially stay-at-home moms, focus on saving in their husbands' 401(k)s if they have them, or set aside money in their own IRAs?
Your knowledge of the financial industry is encyclopedic! How do you keep up with it?
Back when you were a financial advisor, did you ever imagine this incredible success for yourself?
Your success really took off later in your career. What advice do you have for women who still have their success in front of them?
DISCLOSURE: Neither Kim Tracy Prince nor Los Angeles Moms Blog was paid for this post.