Suze Orman, Lesbian, Taught Me Everything I Know

Long before I knew Suze Orman came out as a proud lesbian, she was my first financial teacher. Way back in 2001, her book The Road To Wealth was my introduction to the basics of personal finance. How appropriate that a “family” member should play the role of mentor at just the right time in my life!

My mom gave me The Road To Wealth for Christmas, soon after I landed my first ‘corporate’ job, and I was for the first time earning a paycheck that didn’t go straight to tuition.

While Suze’s advice and commentary in that volume is slightly dated now (six years later) at the time it was an absolute lifeline for me.

I had never had life insurance in my life, and had no idea where to start. Suze educated me on whole life vs. term, and her strong preference for term. I still think she’s right!

I had never given a thought to retirement investing and had no idea what a 401(k) was, but Suze’s wise counsel encouraged me to start putting away serious money for the future.

Suze’s chapter on Managing Debt was a kick in the pants for me; I realized how much I had burdened myself, and how long it would take to pay off (if ever!) if I continued on the path I was on.

I couldn’t have told you the difference between a stock or a bond, let alone what a “mutual fund” might be. Suze changed all that, and I am really, really grateful to her. Following her, I would never put money in a bond fund; I go straight for the bond itself, so I can sell as and when I choose rather than be at the mercy of the market.

I realize some people have a strong reaction to Suze’s strong personality, and how she can come across as ‘demanding’ on television, sometimes practically shouting at her callers. She could probably tone it down a notch or two, sure, and refine her bedside manner.

But if what we see on TV is her real personality, then so be it. I’d much prefer the authentic Suze to shine through, and if that makes her a fierce, out lesbian, then I say “You go girl!”

Be sure and catch Nina’s post, Paula’s post and John’s post on Suze Orman coming out.