The Road to Wealth by Suze Orman: 9781594484582 | PenguinRandomHouse.com: Books (2024)

FAQs

What does Suze Orman say about money? ›

The goal is to keep your money safe so that when you go to use it, it will be there. Money you won't need to use for at least seven years is money for investing. The goal here is to have your account grow over time to help you finance a distant goal, such as building a retirement fund.

Suze Orman's 9 Steps to Financial Freedom

With over 3 million copies sold, The 9 Steps to Financial Freedom is personal finance classic that changes the way we think, feel, and act about...

If you always spend less than you earn, your finances will always be in good shape. Understand the difference between needs and wants, live within your income, and don't take on any unnecessary debt.

When asked what a safe amount would be, she explained that it would be in the millions but depends on several factors, such as where you live, your expenses, and whether you own a home outright. She believes the amount you'd need to retire early would be closer to $5 or $10 million.

The best-selling author and award-winning host underwent spinal cord surgery in 2020 for a rare tumor, and subsequently had to learn to walk and speak normally again. “Nobody ever thought that I would take stage again and be able to speak because it affected my vocal cords,” Orman told the audience.

Which is the most sold finance book in the world? Rich Dad, Poor Dad by Robert T. Kiyosaki is the best-selling finance book in the world.

If one income, target six to 12 times the monthly spending for cash reserve, which would be $30,000 to $60,000. If two incomes, target four to six times monthly spending, so $20,000 to $30,000 for this example,” says Paddock. However much you're trying to sock away, Orman recommends automating your savings.

“Price is what you pay, value is what you get.” This famous Buffett quote strikes at the heart of the “value investor” approach and reveals the secret of how Buffett made his fortune.

You should keep enough money in checking to cover your monthly bills with some wiggle room – about a month of expenses. That's much lower than the three to six months' worth of expenses you should keep in your savings account for emergencies.

“On average, Americans believe it takes approximately an additional $284,000 above feeling wealthy to really be 'worry-free. ' This 'wealth delta' depends greatly on where you are in life, with the difference being highest for those in their 30s and 40s — peaking at nearly $1 million.

What Vanguard fund does Suze Orman recommend? ›

Look for funds that have expense ratios below 1 percent. If you can handle the $3,000 minimum initial investment, I like the low-cost Vanguard Total Stock Market Index Fund and the Vanguard Total International Stock Index Fund (vanguard.com; 877-662-7447).