Suze Orman | 7 Super Tips

But I was Braveheart and I was like,
“Hold. Hold.” Is that Braveheart or Gladiator? I think it’s Braveheart. Hold Hold. Hold. Hold! Hey it’s number one best-selling author
and motivational speaker Erik Qualman A lot of you know me as Equalman. Welcome to today’s 7 Super Tips where today we have motivational speaker, TV host, and
financial expert Suze Orman. So, without further ado here are 7 Super Tips from
Suze Orman. Well, just because I happen to be in California I just briefly, briefly want to tell you where I got my start. It was here in California – Berkeley,
California – on the corner of College and Alcatraz in a little restaurant called
The Buttercup Bakery. After spending four years at the University of Illinois, in
1973, I came out to Berkeley, California where I lived in my van on the streets
on …. on Hearst Avenue there because I did not have the money back in
1973 to be able to afford a first and last month deposit on an apartment and
rent was only $200 a month back then. So, I was living in my van on the streets
for three months until I landed my dream job at The Buttercup Bakery – right – for
$400 a month. Now, I wasn’t just a waitress for $400 a month from 1973 to
1974. Oh no no. I was a waitress making $400 a month from 1973 to 1974 to 1975
to 1976 to 1977 78 79 80. What now I’m essentially 29 years of age. All right,
are you doing the math? Are you trying to figure out how old I am right now? I’m
about to be 59 mm-hmm. I look good, don’t I? So, so, anyway, here I am all those years
being a waitress and I get this idea that I can open up my own restaurant and
all I need is $20,000 to do so. So, I call up my mother. I asked for $20,000 and she says, “Suze, honey, that’s more money than we have to
our name. We can’t give you that kind of money.” I go into work the next day. A man
by the name of Fred Hasbrouck comes in. He said, “What’s wrong, Sunshine?” I tell him the story – how I want to open up my own restaurant and before I know it, I leave
there with $50,000 in checks and commitments that all the customers had gathered together and gave me because Fred went throughout the
restaurant that day and told them how I was upset because I didn’t have enough
money to open up my own restaurant and they backed me. Now I didn’t know what to
do with that money and so I’m told to take it down to Merrill Lynch in Oakland
and open up an account ’till I can be helped to open up my own restaurant. I go
into the account at Merrill Lynch and again to make a very long story short
all $50,000 was lost within three months. And, it was lost because I had a crooked
financial advisor and I was just listening to what this financial adviser
was telling me. Now, I didn’t know what to do. So now I thought, “I know I can be a
broker they just make you broker.” So I went and I got a job at Merrill Lynch.
They hired me simply to fill their women’s quota. I walked in with pinstripe pants – red and white – tucked into my white cowboy boots with a blue silk shirt. I thought that would be a good dress because that was
my fanciest outfit I had and they looked at me and they had never hired a woman
before – this was 1980 – and the manager said, “You know, Suze, I’m going to hire
you. I’m gonna hire you, but I’m here to tell you you will be out of here in six
months because I personally believe women belong barefoot and pregnant. Mmm. His name was Peter Sansevero. Anyway, so I’m hired there and as I’m
working for Merrill Lynch, I’m reading the code studying to be a financial
adviser, that what my broker did was illegal. He couldn’t invest my money in such
a way that I could lose it when that money was there to be safe and sound so
I can open up my restaurant. So, I went in to tell Peter that he had a crook that
worked for him and Peter said to me, “Suze, that crook makes us a lot of money. You
go down and you sit in your chair and don’t you say anything.”
I went and I sat down in my little cubicle on my little chair and I thought
to myself, well, Peter told me that I would be out of here in six months – and
this was four months into it. He told me that I didn’t belong here. Now I could
sit there and I could do nothing but what happened with Randy, who was the
financial advisor, and what he did to me wasn’t right. Now, I was young and I had
time to make back that money to pay everybody back, but what if it were your
parents or your grandparents or somebody who didn’t have the time to make it back?
It wasn’t right. So right then and there I decided to do what was right versus
what was easy and I sued Merrill Lynch while I was working for them. Now what
was great – mmm- what was great about that is because I
sued them they couldn’t fire me. They couldn’t fire me and two years later I
was their number six producing broker. They had fired Randy, they gave me back
all of my money plus 18 percent interest – because that is what money markets were
paying back then – and here we are everybody. The story begins. So, from that what I took was that it is always better to do
what is right versus doing what is easy. When one door closes another door opens
up. Most of us go through life holding on so tightly to that which we really don’t have because we don’t have enough. So, the little that we have we hold on to it so tightly that our hands literally are not open to receive that which is meant to come our way. There’s only one way that I know to force the opening of the hands and that is through giving. Giving not so that you can get back but giving so that
you can have values. Giving to say thank you for what you have as well as giving
to say thank you for what you do not have. When you open those hands you feel
generous. When you feel generous you feel powerful. And when you feel powerful, the
world can recognize your power and, therefore, employers are attracted to you.
Job offers come your way. You get pay raises. So, it’s almost by giving to
others that you actually become more. The question has to be asked and answered:
How much do you give? You have got to give a respectful amount to yourself. It
doesn’t make any sense for you to give everything you have away and then leave
yourself a victim to your own financial tsunami. That doesn’t help you and it
doesn’t help anybody around you. So you dig into your heart and you find out an
amount that feels right to you. And it doesn’t matter if it’s a dollar, it doesn’t matter if it’s $10, or $100 or whatever. But that is the
amount that you give, however, I have to tell you you just don’t give it because
there was a disaster. You give it every single month somewhere
for the rest of your life. You make the first check that you write every month
as an honoring to your own values, as an honoring and an offering to start the
month with your hands open rather than your hands closed. And my biggest fear
that money that goes out right now and we’re helping everybody and that’s
fabulous but what happens in two months, one year,
five years from now? Then what happens? So just don’t give once. Give once a month
for the rest of your life and then your values will escalate along with how you
feel about yourself and along with all the people that you’ve helped. You teach your kids true strength by showing them what you can overcome, not by lying to
them by, providing for them with things you can’t afford. ‘Cause then we pass
that lie from generation to generation. Women, we have now stopped… we have now… we now have to start passing the truth down to one another about who you are more
than what you have. Now you have to start looking at your life. We have to look at how do we make an investment in who we are as people who are 25, 30 and 35 so we get to build a career for ourselves. So, the goal here is going to be as follows: rather than you
being in a situation where you are dependent on a paycheck, I want you to
get into a situation where those who give you a paycheck are dependent upon
you. Did you hear that? That can happen. But, in order to do that,
you need time to make your mark so that you are noticed by those who you’re
working for. People don’t know where they’re going and what people don’t know where something goes, sometimes they usually get lost. Too many of you, in my
opinion, and too many people, Brad, in the United States, they’re waiting for
answers to come to them. They want the administration to fix them, the economy
to fix them, their employer to fix them, the stock market to fix you, the
real-estate market to fix you. Nobody’s gonna fix you until you decide to fix
yourselves. Real estate isn’t going to be recovering until at least the year 2023
people. And so you have to then, rather than saying, “It’ll be ok, next year,” you
have to make a plan. [HOST] How? So what does that mean? [ORMAN] What that means is if you’re
under water in your home, you take action on it. You don’t wait for the action to
be that the market is going to come back and save you. Because the market is not
going to save you. Only you can save yourselves. So, if you’re underwater in
your home, you have to make a decision. Do you walk away? Do you try to deal with
the bank? Do you do a short sale? What action? Because here’s the real thing: if
you are afraid, there’s only one way to conquer fear and that is through taking
an action. I want to tell you a story that I did with a woman by the name of Lauren. This is a true life story and this is how you start to go from being broke to not being broke and working in a situation that you want. Here’s Lauren. 21 years of age and she wants to be a shoe designer. She gives her application
to every single place in New York City and everybody turns her down. She doesn’t
know what to do. She’s talking to me about it and, one day, a friend of her
mother’s offers her a job for $65,000 a year as a toy designer for
this woman’s company. Lauren comes to me and says, “Suze, $65,000 a year. I have to
take this job,” and I said. “Lauren, do you want to be a toy designer?” and she said,
“No but, Suze, I’m being a waitress right now. I’m doing things I don’t want to do. The
shoe places haven’t answered me yet. This is $65,000 a year.” I said, “Lauren, I
am asking you not to take this job. If there was ever a time in your life to
stick by what you want to become, now is the time. Now is not the time for you to
work for money. Now is the time for you to work for something that you love and
you want to be for the rest of your life.” She stuck by that. She turned it down.
She didn’t talk to me for almost two months after that, but what happened was
she got a job in a shoe company in New York City for under $30,000 a year. And
she says to me, “Alright, after taxes after everything in New York City, can
you tell me, Suze Orman, how do you expect for me to make it?” I said, “Well Lauren, we’ll get to that in one second but here are the rules of this game: if this is a company that you want to develop a career with, which it is, this is what you need to do. They want you to be there at 8:00? Get there at 7. You’re supposed to leave at 5? Stay until 8 or 9. Come in on
Saturday’s. You come in and work and do everything that they ask you and
everything that they don’t ask you and you are not to ask them for a pay raise.
This is not about money. This is about you establishing yourself to this
company as the greatest worker they have ever seen bar none. We can fool ourselves all we want
between needs and want. We can play the psychological word game
between the difference between a need and a want. But, if you don’t have an
eight-month emergency fund, if you aren’t fully funding your retirement account, if
you have credit card debt, if you’re behind on payments, if your student loan
is in deferment or even in default, you better get serious with your life
and you know what it need is. You need to buy food at a grocery store for you to
eat. You do not need to go to a restaurant. You need gasoline in your car
possibly to get to work. You don’t need gasoline in your car to
go skiing. So you can fool yourself all you want, but, in the end, the only person
that you are hurting is you. So if you don’t have money, you should only buy
needs. You have to buy needs because you need it. If you just give up your wants,
you’d be amazed how your life turns around. That’s it for today’s 7 Super Tips with Suze Orman. Remember you can listen to this in a podcast format. It’s
called Super U Podcast. It’s available on iTunes and Spotify. My hope is that
today’s 7 Super Tips help unlock and unleash your inner superpower. I’m your
host, Erik Qualman, reminding all of us, until next time: It’s not what we take from the
world, it’s what we leave behind. When you say, “You got really bright,” like the light or just what I was saying, “this is so bright?” Do we know who sings that song? I don’t know. I think… Is it John Denver? I’m your host, Eric Qualman, reminding all of you, until next time: It’s what we take take from the world

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