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The Army has enlisted the help of Suze Orman to educate soldiers and their families on money matters so they don’t fall victim to predatory loans, mounting credit card debt and other financial issues…But for Suze Orman, it has been a long and hard struggle to climb to the top – and at the age of 62, she now admits: ‘After 62 years of life and probably more failures for many of those years than successes, you learn from the school of hard knocks.I mean, I'd been there already seven years as a waitress. Suze came out as gay in 2007 and has been with her partner Kathy Travis for 12 years. T, is a former executive at the marketing firm Ogilvy & Mather and now works as her business manager.But Suze’s struggles become all the more apparent as she details a troubled childhood, growing up in poverty on Chicago’s south side, in which she says: ‘My father was sick most of the time, my mother was a secretary working and really supporting the family most of the time.Not only does she essentially compare stocks to gambling by suggesting she could lose it all, she also remarkably says she doesn’t mind losing a million dollars.2008 interview with CNN Money, she decreed that broad-based index funds — suggested by nearly every money expert (including me) — should take a back seat to much riskier sector funds.
First, something recent and, truth be told, the reason I’m finally writing an article I’ve been considering for years.“Expert: Stop wasting money on things that make your life easier,” Orman says, “Stop leasing cars, stop eating out, stop doing the things that’s wasting your money and makes your life easier, because in the long run it’s going to make it harder.”" data-reactid="14"In an article on called “Expert: Stop wasting money on things that make your life easier,” Orman says, “Stop leasing cars, stop eating out, stop doing the things that’s wasting your money and makes your life easier, because in the long run it’s going to make it harder.”One might argue that doing things that make your life easier aren’t technically “wasting money,” since they are, after all, making your life easier. Things like eating out, developing a Starbucks habit and paying to have your groceries delivered are splurges that can derail more important pursuits, like saving for the future.“18 Ways to Save 0 This Week” with the same sort of advice." data-reactid="16"Every personal finance reporter, including yours truly, has been saying similar things for decades.
Still, the fact remains she borrowed money and, rather than use it as promised, lost it all gambling instead. A personal finance expert who doesn’t believe in stocks?