Tavis Smiley Season 7 Episode 482 Suze Orman

Tavis Smiley season 7 episode 482 features financial expert Suze Orman in an insightful conversation about personal finance. Orman, a bestselling author and TV personality, shares her experiences as a woman in the male-dominated finance industry and offers practical tips on how to manage money wisely.

Orman begins by discussing her upbringing and how it shaped her views on money. She grew up in a poor family and saw the struggles her parents faced in providing for the family. This made her realize the importance of financial security and instilled in her a strong work ethic.

The conversation then turns towards Orman's career. She reveals how she started out as a waitress and eventually went on to become a stockbroker. However, she struggled initially because of the gender bias prevalent in the industry. She recalls being paid less than her male counterparts and not being taken seriously. But she persisted and eventually carved a niche for herself as a financial advisor.

Orman then delves into some of the common financial mistakes people make. She emphasizes the need to have an emergency fund, especially in uncertain times like these. She also stresses the importance of saving early and often, and how even small amounts can add up over time. Orman outlines a simple strategy for building your wealth: save 20% of your income, invest it in a diversified portfolio, and aim for a 10% return.

The conversation then turns towards retirement planning. Orman recommends that people start planning for retirement as early as possible and contribute to their 401(k) or IRA accounts. She cautions against relying solely on social security for retirement income and urges people to take control of their financial future.

Orman also shares her thoughts on the rise of fintech and how it is disrupting the traditional finance industry. She believes that technology has made financial services more accessible to the masses and is empowering people to make informed decisions. However, she also cautions against blindly trusting algorithms and emphasizes the need to be aware of the risks associated with new forms of finance.

The conversation ends with Orman offering some final words of advice to viewers. She stresses the importance of being financially responsible and not living beyond one's means. She urges viewers to educate themselves about personal finance and take control of their financial future.

Overall, Tavis Smiley season 7 episode 482 with Suze Orman is a thought-provoking conversation about personal finance that offers practical tips and insights that viewers can apply to their own lives. So, this episode is a must-watch for anyone looking to improve their financial well-being.