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Suze Orman

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Suze Orman
Orman in 2010
Born (1951-06-05) June 5, 1951 (age 73)
Chicago, Illinois, U.S.
EducationUniversity of Illinois at Urbana–Champaign (BA)
Occupations
Known forThe Suze Orman Show
Spouse
Kathy Travis
​
(m. 2010)​
WebsiteOfficial website
Signature

Susan Lynn "Suze" Orman (/ˈsuːzi/ SOO-zee; born June 5, 1951) is an American motivational speakers, author, financial advisor, and podcast host. In 1987, she founded the Suze Orman Financial Group. Her work as a financial advisor gained notability with The Suze Orman Show, which ran on CNBC from 2002 to 2015.[1]

Orman has written ten consecutive New York Times bestsellers about personal finance. She was named twice to the Time 100 list of influential people, has won two Emmy Awards and eight Gracie Awards. Orman has written, co-produced and hosted nine PBS specials, and has appeared on multiple additional television shows. She has been a guest on The Oprah Winfrey Show approximately 29 times and Larry King Live over 30 times. Orman is currently the podcast host of Suze Orman's Women & Money Podcast.[2]

Early life and education

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Orman was born on the South Side of Chicago on June 5, 1951, to Jewish parents of Russian and Romanian origin, Ann and Morry Orman.[3][4] Her mother worked as a secretary for a local rabbi, while her father, an immigrant from Kiev,[5] worked in a chicken factory[6][7][8] and managed Morry's Deli[9] in Hyde Park.[10][11][12]

She attended the University of Illinois Urbana-Champaign, where she earned a B.A. in social work[13] in 1976.[14] In 2009, Orman received an honorary doctorate of humane letters from the University of Illinois at Urbana–Champaign.[14] The following year, in 2010, she was presented with an honorary doctorate of Commercial Science from Bentley University.[15]

Career

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Orman on the cover of Ms. magazine in 2008

After finishing school, Orman moved to Berkeley, California, where she worked as a waitress. In 1980, she borrowed $52,000 from friends to open a restaurant.[16][17][18][19]

According to Orman, as an investment novice, she invested that money through a representative at Merrill Lynch, who promptly lost her entire investment in trading options. Later, Orman trained as an account executive for Merrill Lynch, where she reports that she learned that the type of investment her broker had put her in was not suitable for her needs, as option trading is considered a high-risk but high-reward investment suitable only for high net worth individuals. Orman further asserts that it was explained to her that because her broker was the highest producing representative in the office, his actions went unchecked. After completing her training with Merrill Lynch, she remained at the firm until 1983, when she left to become a vice president of investments at Prudential Bache Securities.

In 1987, Orman resigned from Prudential and founded the Suze Orman Financial Group, in Emeryville, California.[20][21] While there, she published a booklet, The Facts on Single Premium Whole Life, which compared single-premium whole life, universal life, and single-premium deferred annuities; she distributed copies of the booklet for free to anyone who requested one.[22] She was director of the firm until 1997.[18]

Orman published ten original books between 1995 and 2020: You've Earned It Don't Lose It (1995), The 9 Steps to Financial Freedom (1997), The Courage to be Rich (1999), The Road to Wealth (2001), The Laws of Money, The Lessons of Life (2003), The Money Book for the Young Fabulous and Broke (2005), Women & Money (2007), The 2009 Action Plan (2009), The Money Class (2011) and The Adventures of Billy & Penny (2017, children's book). Orman also published three updated versions of her bestselling books: Suze Orman's Action Plan: New Rules for New Times (March 2010), The Money Class: How to Stand in Your Truth and Create the Future You Deserve (2012), Women & Money: Be Smart Strong and Secure (Sept 2018) and The Ultimate Retirement Guide for 50+ (2020).

The Suze Orman Show began airing on CNBC in 2002.[citation needed] In February 2008, Orman gave away copies of her book Women and Money for free, following an appearance on The Oprah Winfrey Show, generating almost two million downloads.[23] 2008–2010, she was portrayed on Saturday Night Live by Kristen Wiig.[24][25][26] Orman has been featured on the Food Network's Paula's Party.[citation needed] In January 2011, Orman appeared on Oprah's Allstars. In January 2012, Orman's six-episode TV series America's Money Class with Suze Orman premiered on OWN: Oprah Winfrey Network.[27][28] For this show, Orman answered questions about money management. Money Class lasted six episodes.[29]

Orman wrote a financial advice column for O, The Oprah Magazine.[30] She is the former author of Yahoo!'s "Money Matters" and writes for the Costco Connection Magazine. She contributed to The Philadelphia Inquirer, Lowes MoneyWorks and Your Business at Home Magazine.[31][32]

Orman's final episode of The Suze Orman Show aired on March 28, 2015, reportedly so that Orman could develop a new series, Suze Orman's Money Wars, for Warner Bros. Telepictures Productions.[33] Orman hoped the show would premiere in 2016,[1] but it was not produced.

In 2016, Orman was appointed as a personal finance educator for the United States Army and Army Reserve.[34]

In 2018, Suze began serving as a Special Advocate for the National Domestic Violence Hotline, to help spread awareness regarding financial abuse.[35]

Suze is currently the podcast host of the twice-weekly Suze Orman's Women & Money Podcast.[36]

In 2020, Suze co-founded SecureSave, a company whose sole purpose is to change the savings rate in America by providing employer-matched emergency savings plans for employees.

Personal life

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In February 2007, Orman stated that she is a lesbian.[37][38] Orman has been married to Kathy Travis (nicknamed KT) since 2010.[39] Travis is also her business partner. According to Orman, "KT’s career has been building brands, and I’m a brand."[40]

In 2008, Orman donated money to the Democratic Party.[41][42] In a 2008 interview with Larry King, she said she favors the policies of the Democratic Party and Barack Obama, especially regarding people in same-sex relationships.[43]

Controversies

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In 2012, Orman introduced the Approved prepaid debit card, which was backed by Bancorp Bank. The card generated a great deal of controversy for its hidden fees and false promise of contributing to a FICO score.[44] Cardholders were charged a $3 monthly fee, as well as fees for check writing and customer service calls. The Approved card's features included credit reports and credit scores from TransUnion, as well as credit monitoring and identity theft protection. TransUnion also agreed to "examine data from Approved cards", which was unusual for prepaid debit cards, but did not factor the card's usage into the cardholders' FICO scores. In July 2014, the Approved card was discontinued.[45][46]

Orman has also received criticism for making misleading statements relating to her credentials and achievements, notably her time teaching at the controversial for-profit University of Phoenix.[47][48][49][50]

Bibliography

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Books

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  • You've Earned It, Don't Lose It: Mistakes You Can't Afford to Make When You Retire (with Linda Mead) (1995)[51]
  • The Nine Steps To Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying (1997)[52]
  • The Courage to Be Rich: Creating a Life of Material and Spiritual Abundance (1999)
  • The Road to Wealth: Everything You Need to Know in Good and Bad Times (2001)
  • The Laws of Money, the Lessons of Life (2003)
  • The Money Book for the Young, Fabulous and Broke (2005)
  • Women and Money: Owning the Power to Control Your Destiny (2007)
    • Revised and updated: Women & Money: Be Smart Strong and Secure (Sept 2018)
  • Suze Orman's 2009 Action Plan: Keeping Your Money Safe and Sound (2009)
    • Revised and updated: Suze Orman's Action Plan: New Rules for New Times (March 2010)
  • The Money Class: Learn to Create Your New American Dream (March 2011)
    • Revised and updated: The Money Class: How to Stand in Your Truth and Create the Future You Deserve (2012)
  • The Adventures of Billy & Penny (Jan 2017) (children's book, illustrated by wife KT)
  • The Ultimate Retirement Guide for 50+: Winning Strategies to Make your Money Last a Lifetime (Feb 2020)

Multimedia

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Orman is also creator of a number of non-book products, primarily CD-ROM-based services that offer education and various financial services usually in conjunction with her books and writings.

  • Suze Ormans FICO Kit – First offered in 2002 in conjunction with Fair Isaac Corporation.
  • Suze Orman's Will & Trust Kit – Introduced in 2005 with her personal trust attorney.
  • Suze Orman's Insurance Kit – Introduced in 2007.
  • Suze Orman's Protection Portfolio – First introduced in 2002, in third version.
  • Suze Orman's Identity Theft Kit – First offered in 2008, in conjunction with TrustedID.
  • Suze Orman's Save Yourself Retirement Program – Introduced September 2009, in conjunction with TD Ameritrade.

References

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  1. ^ a b Stuever, Hank; Stuever, Hank (2015-03-27). "So long, 'Suze Orman Show,' TV's only sane space in a money-crazed culture". The Washington Post. ISSN 0190-8286. Archived from the original on 2015-12-18. Retrieved 2017-05-10.
  2. ^ "About Suze Orman Archived 2019-02-25 at the Wayback Machine" SuzeOrman.com. Retrieved 24 February 2019.
  3. ^ Strauss, Elissa (October 17, 2007). "Suze Orman's Spiritual Side". The Jewish Daily Forward. The Forward Association, Inc. Archived from the original on February 27, 2015. Retrieved February 26, 2015.
  4. ^ "Ann Orman Obituary - Boca Raton, FL". Dignity Memorial. Archived from the original on 2018-11-23. Retrieved 2021-07-08.
  5. ^ "Snake Person Money Moves". The Suze Orman Show. February 7, 2015. CNBC.com.
  6. ^ Dominus, Susan (2009-05-17). "Suze Orman Is Having a Moment". The New York Times. Archived from the original on 2017-08-01. Retrieved 2017-02-25.
  7. ^ "If you knew Suze…". Kiplinger's Personal Finance Magazine. 1998. Archived from the original on 2012-01-25. Retrieved 2012-02-07.
  8. ^ "News - Suze Orman". The Jewish Journal. Archived from the original on 2012-02-09. Retrieved 2007-11-01.
  9. ^ Spiselman, Anne. "Morry's Deli". Chicago Reader. Archived from the original on 2016-09-24. Retrieved 2016-09-05. in the mid-1970s—when you might have found college student Suze Orman working behind the counter for her dad, the original owner...
  10. ^ Cantor, Danielle. "Successful Women: Suze Orman". Jewish Woman (Fall 2004). Jewish Women International. Archived from the original on 2008-09-23. Retrieved 2007-05-30.
  11. ^ Bloom, Nate (2004-06-11). "Celebrity Jews: Briefly noted". jewishsf.com. San Francisco Jewish Community Publications Inc. Archived from the original on 2008-04-15. Retrieved 2007-05-30.
  12. ^ Iwata, Edward (1999-05-04). "Personal finance guru Suze Orman is keepin' it real despite her astounding success". San Francisco Chronicle. Archived from the original on 2009-02-02. Retrieved 2007-05-30.
  13. ^ "Money Guru Suze Orman Offers Social Workers Advice, Social Work Month Message | Social Workers Speak". Archived from the original on 2020-10-31. Retrieved 2021-07-08.
  14. ^ a b "Suze Orman receives honorary degree, addresses University graduates". Daily Illini. 18 May 2009. Archived from the original on 2009-08-21. Retrieved 2012-06-16.
  15. ^ "Suze Orman, America's Most Recognized Expert on Personal Finance, Speaks at 91st Annual Bentley University Commencement" (Press release). PR Newswire. Archived from the original on 2019-08-01. Retrieved 2019-08-01.
  16. ^ "History from Orman's website". Suzeorman.com. Archived from the original on 2012-07-01. Retrieved 2012-06-16.
  17. ^ Women & money: owning the power to control your destiny. Random House, Inc. 2007. pp. 27–28. ISBN 978-0-385-51931-1. Archived from the original on 2013-05-27. Retrieved 2016-07-19.
  18. ^ a b Andriani, Lynn (2003-02-24). "The Dollars and Sense of Suze Orman". Publishers Weekly. Archived from the original on 2008-09-20. Retrieved 2008-01-25.
  19. ^ Orman, Suze (2008-06-05). Women and Money (TV-program). PBS pledge programming: PBS. Archived from the original on 2008-06-15.
  20. ^ "How Emeryville became a boom town". USA Today. June 13, 1988. p. 8B.
  21. ^ Goldinger, Jay (May 9, 1989). "Catastrophic Coverage Raises Some Questions". The Times-Picayune. New Orleans, Louisiana. p. E4.
  22. ^ Goldinger, Jay (September 19, 1989). "Closed-end Funds Offer Good Value for the Investor". The Times-Picayune. New Orleans, Louisiana. p. D3.
  23. ^ Dominus, Susan (2009-05-17). "Suze Orman Is Having a Moment". The New York Times. Archived from the original on 2015-04-07. Retrieved 2017-02-25.
  24. ^ Stuever, Hank (27 March 2015). "So long, 'Suze Orman Show,' TV's only sane space in a money-crazed culture". Washington Post. Archived from the original on 18 December 2015. Retrieved 16 December 2019.
  25. ^ "The Best Parts of Kristen Wiig". Parade. 29 November 2018. Archived from the original on 16 December 2019. Retrieved 16 December 2019.
  26. ^ "SNL Archives | Impressions | Suze Orman". www.snlarchives.net. Retrieved 16 December 2019.
  27. ^ "America's Money Class with Suze Orman" Archived 2015-04-02 at the Wayback Machine, channelguidemag.com, 2012-01-09.
  28. ^ "OWN: Oprah Winfrey Network Announces Premiere of "America's Money Class with Suze Orman" Monday, January 9". The Futon Critic. Retrieved January 21, 2013.
  29. ^ "OWN: Oprah Winfrey Network Announces "Money Class" (WT)". The Futon Critic. Retrieved January 21, 2013.
  30. ^ Orman, Suze (January 6, 2010) Easy Money Archived 2013-01-05 at the Wayback Machine, CNN.com; accessed January 17, 2013.
  31. ^ Orman, Suze. Moving Past Fear and Toward Success" Archived 2008-01-21 at the Wayback Machine, Your Business at Home Magazine, Volume 3, Issue 1, January 2008, pg. 36.
  32. ^ "Internationally Acclaimed Personal Finance Expert; Host of CNBC The Suze Orman Show". KeySpeakers.com. Archived from the original on 2009-02-02.
  33. ^ Littleton, Cynthia (November 25, 2014). "Suze Orman to Exit CNBC for 'Money Wars' Series with Telepictures". Variety. Archived from the original on 17 March 2015. Retrieved 8 March 2015.
  34. ^ "U.S. Army Announces Partnership with Suze Orman". U.S. Army. 23 December 2016. Archived from the original on 2019-08-01. Retrieved 2019-08-01.
  35. ^ says, Pat (2018-10-08). "National Domestic Violence Hotline and Avon Partner with Suze Orman to Shed Light on Financial Abuse in Special Video Series "Women Breaking Free: Stories of Strength from Survivors of Domestic Violence"". The National Domestic Violence Hotline. Archived from the original on 2019-08-01. Retrieved 2019-08-01.
  36. ^ "Suze Orman's Women & Money Podcast". Suze Orman. Archived from the original on 2021-06-20. Retrieved 2021-07-08.
  37. ^ Lo, Malinda (February 25, 2007). "Suze Orman Comes Out". afterellen.com. Archived from the original on February 28, 2007. Retrieved September 10, 2022.
  38. ^ "Money maven Suze Orman comes out". gay.com. February 23, 2007. Archived from the original on February 27, 2007. Retrieved September 10, 2022.
  39. ^ Moral, Cheche V. (February 26, 2012). "Helping people who can take care of themselves is not helping the Philippines". Philippine Daily Inquirer. Archived from the original on June 5, 2013. Retrieved February 17, 2013.
  40. ^ Cowles, Charlotte (20 March 2019). "How I Get It Done: Suze Orman Gives Money Advice From Her Private Island". The Cut. Archived from the original on 2 March 2021. Retrieved 8 July 2021.
  41. ^ "NEWSMEAT ▷ Suze Orman's Federal Campaign Contribution Report". Newsmeat.com. Archived from the original on 2012-05-12. Retrieved 2012-06-16.
  42. ^ Profile Archived 2011-06-22 at the Wayback Machine, newsmeat.com; accessed May 19, 2015.
  43. ^ "Larry King Live" (transcript). CNN. 2008-01-02. Archived from the original on 2008-10-13. Retrieved 2008-06-30.
  44. ^ Wasik, John (2012-01-17). "COLUMN: The troubling fine print of Suze Orman's prepaid card". Reuters. Archived from the original on 2020-05-15. Retrieved 2021-07-08.
  45. ^ Lieber, Ron (9 January 2012). "Suze Orman to Offer Her Own Prepaid Debit Card". The New York Times. ISSN 0362-4331. Archived from the original on 2019-03-02. Retrieved 2019-03-18 – via NYTimes.com.
  46. ^ Lieber, Ron (16 June 2014). "Suze Orman's Approved Prepaid Debit Cards Are Quietly Discontinued". The New York Times. ISSN 0362-4331. Archived from the original on 2019-02-15. Retrieved 2019-03-18 – via NYTimes.com.
  47. ^ Barrett, William P. (28 December 1998). "Sizzling Suze". Forbes. Archived from the original on 2020-07-10. Retrieved 2019-12-17.
  48. ^ Warner, Joan (30 March 2015). "Suze Orman Won't Stop Bashing Advisors". Financial Advisor IQ. Archived from the original on 2019-12-16. Retrieved 2019-12-17.
  49. ^ Halperin, David (2014-09-17). "VIDEO: With Senator Warren Watching, Suze Orman Denies, Admits, Rationalizes Teaching at University of Phoenix". HuffPost. Archived from the original on 2017-03-25. Retrieved 2019-12-17.
  50. ^ Halperin, David (6 May 2014). "Suze Orman Warns Against Private Student Loans, Yet Teaches at University of Phoenix". huffpost.com. Retrieved September 10, 2022.
  51. ^ Rowe, Jeff (January 23, 1995). "New on the Bookshelf". The Orange County Register. Orange County, California. p. D4.
  52. ^ "Financial Writer Wants to Let Freedom Ring". The Times-Picayune. New Orleans, Louisiana. April 18, 1997. p. E3. Retrieved May 19, 2015.
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