Suze Orman

[lorihmatthews]

Originally Posted by Allisonfaye

Suze was on 20/20 the other night recommending that EVERYONE divulge how much they make. I thought it was kind of stupid. Her rationale was that it would clarify things and there would be no shroud of mystery and there would then be equitable pay. I have to disagree with this. I think it would make for hard feelings. While I agree that there is still a variance between women and men's pay rates, I think that the majority of pay discrepancies can be attributed to factors that are harder to quantify. Suze told us that she made $6m last year and expects to make $10M this year. Personally, I think she just wanted to brag about what she made. Well, she DID get her start on Oprah, afterall.

My personal opinion is that the main reason that women make less than men for equal jobs is because they don't negotiate. I have often said this on other posts. One of my closest friends did this for years until I told her never to take the first offer given to you. She never thought to negotiate and ask for more. More salary, bonuses, time off, etc. Like Suze says, "Don't put yourself on sale." Ask for what you are worth.

During the dot-boom here I took a job and negotiated really hard for a large salary. Because I did so, I was even making more than another woman who had a higher title than me. Did I deserve it? Probably not. But I asked for it and I got it.

Heck, if Suze thinks she's worth $10M this year, then by gosh someone who agreed to that figure thinks so too.

[LindaP]

Originally Posted by cafire

I did open a Save Yourself account at TD Ameritrade after seeing Suze Orman live at the "O You" (Oprah yearly event) that was held in San Francisco this year. When I joined, you only had to deposit $50 a month for a year to get the $100 at the end. Now you need to deposit $100 a month to get the $100 at the end. I am 4 months in so far. I was a little wary but so far so good, and she definitely made it very convincing by saying, "When else are you ever going to be guaranteed a 17% return on your money?" and it's true...definitely not gonna make that in interest any time soon!!! .

It figures the amount went up! LOL I may still do it then, it's just that I've never put my money somewhere that I don't actually walk into the building and open the the account, kwim? I confess to being ignorant of so much of this stuff.

I like Dave Ramsey as well as Suze Orman, they both can have somewhat annoying personalities but what they have to say makes sense.

Linda

[pinkinthecity]

Good thread!

I really like Suze Orman, but my SO cannot stand her. He think she is too intense, but I think she is just giving those callers a dose of reality. I think sometimes we need someone like her to snap us back to tell us we cannot afford everything we want. I will try to catch the next show and participate in the discussion.

[cafire]

Linda, I hear ya on opening an electronic account. It's a little freaky. I will say that opening the TD Ameritrade account made me less squirmish about opening an ETrade savings account (also online) as well. I was going to make my TD Ameritrade acct my emergency savings fund account, but the interest is only 0.5%. So I opened the ETrade account recently as well, with an interest rate of 3%. So I'd say if you can do it, to do it, as $100 back on a $1200 savings is still something like an 8% return.

[LindaP]

Originally Posted by cafire

Linda, I hear ya on opening an electronic account. It's a little freaky. I will say that opening the TD Ameritrade account made me less squirmish about opening an ETrade savings account (also online) as well. I was going to make my TD Ameritrade acct my emergency savings fund account, but the interest is only 0.5%. So I opened the ETrade account recently as well, with an interest rate of 3%. So I'd say if you can do it, to do it, as $100 back on a $1200 savings is still something like an 8% return.

Thanks, I'm going to talk it over with the hubby but I think he'll go for it! That extra hundred bucks is an good return considering how interest rates have dropped.

Maybe I'll work myself up to an ETrade savings account (have heard of them), baby steps and all that.

Linda

[barcreperie]

For those thinking of opening an Ameritrade account, you might want to read this first: http://www.marketwatch.com/news/stor...83117F30FC9%7D

TD Ameritrade net falls 23%, cuts outlook, shares fall

I'm not saying anyone would lose their deposited $$, but I think I'd look for an institution that's not having problems.

[cafire]

^^ Deposits on MMDA (money market deposit accounts, which is what the Save Yourself account is) are FDIC insured to $100,000 (and $250,000 through 2009) just like any other FDIC bank. But its interesting info nonetheless.

[barcreperie]

Originally Posted by pinkinthecity

Good thread! I really like Suze Orman, but my SO cannot stand her. He think she is too intense, but I think she is just giving those callers a dose of reality. I think sometimes we need someone like her to snap us back to tell us we cannot afford everything we want. I will try to catch the next show and participate in the discussion.

My husband can't stand her either, so I don't watch her recorded shows when he's around. She does take a little getting used to. You have to get past her poses, and the fact that her affect doesn't always match what she's thinking, especially as she's listening to each of the "Can I Afford It" callers as they tell her what they want, and where the money is.

[barcreperie]

Originally Posted by cafire

^^ Deposits on MMDA (money market deposit accounts, which is what the Save Yourself account is) are FDIC insured to $100,000 (and $250,000 through 2009) just like any other FDIC bank. But its interesting info nonetheless.

Yeah, I know it's insured, and I wouldn't be worried if I already had money there, but it's not where I'd want to start up a new account if I wasn't already involved with them.

Speaking of that $250k FDIC insurance that's supposed to be in effect until the end of this year, I can't remember where I heard it (maybe on Suze's show, I can't remember), but somewhere I heard it mentioned that there are thoughts of taking the limit back to $100k sooner than they'd originally announced.

I was made aware of something I hadn't previously known - that for each beneficiary that you have on an account, it increases the FDIC coverage by another $100k. So if my husband and I have a joint savings account, and put our 2 children on it as beneficiaries, it's FDIC insured for $400k (under the normal limits, not this temporary limit).

[Allisonfaye]

Originally Posted by barcreperie

My husband can't stand her either, so I don't watch her recorded shows when he's around. She does take a little getting used to. You have to get past her poses, and the fact that her affect doesn't always match what she's thinking, especially as she's listening to each of the "Can I Afford It" callers as they tell her what they want, and where the money is.

Yeah! What's up with the posing?

[barcreperie]

Originally Posted by Allisonfaye

Yeah! What's up with the posing?

Sometimes I wonder if it's not the awkwardness of having the camera on her, when all she's doing is (supposedly) listening to the caller.

I have the feeling sometimes that her mind has wandered and she's putting on poses that have absolutely nothing to do with what the caller is saying. For instance, as one caller was saying that they had their home paid off, she reacted with that reproachful look where she furrows her brow, puts her head down and nods 'no'. I can only think that she's thinking about something else and isn't keeping her poses in sync with what's being said.

[Sunshine Suz]

My husband doesn't care for her either which is why quite often I only catch the end of the show as he is channel surfing. I'll tape it tomorrow night.

Thanks for this thread.

[Allisonfaye]

Why do all the husbands hate our girl, Suze?

Can't wait for tonights episode.

[barcreperie]

Originally Posted by Allisonfaye

Why do all the husbands hate our girl, Suze?

You know, I wonder if the guys don't feel a little threatened by her. Here's a woman worth I think $25M, who made $6M last year, and she started with nothing. She is completely self-made. I'm thinking the guys may not be able to help being a bit jealous of her financial success, especially since she's a woman. I could be way off-base, but think there might be a tiny streak of competitiveness there, with the guys comparing themselves to her, and not thinking they measure up.

[Allisonfaye]

Originally Posted by barcreperie

You know, I wonder if the guys don't feel a little threatened by her. Here's a woman worth I think $25M, who made $6M last year, and she started with nothing. She is completely self-made. I'm thinking the guys may not be able to help being a bit jealous of her financial success, especially since she's a woman. I could be way off-base, but think there might be a tiny streak of competitiveness there, with the guys comparing themselves to her, and not thinking they measure up.

I think you ay be on to something. For my husband, I have told him over and over that she thinks whole life policies are a mistake. He has three of them and he just can't admit that they were a dumb investment. So instead of considering her point, he has to discount EVERYTHING she says.