Structured settlements are a common way for people who have been injured to receive an insurance payout. The periodic payments provide ongoing income and reduce the risk of blowing a lump sum through poor financial choices. – Suze Orman
A wise woman recognizes when her life is out of balance and summons the courage to act to correct it, she knows the meaning of true generosity, happiness is the reward for a life lived in harmony, with a courage and grace. – Suze Orman
I want to be clear here: It does not matter what you say in your will or trust; the beneficiary document attached to your IRA accounts and your life insurance policy overrides what you say elsewhere. If you want to change the beneficiary, you must change the beneficiary document. – Suze Orman
If you can’t afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can’t afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled. – Suze Orman
If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. You also become eligible to take out a reverse mortgage once you turn 62. – Suze Orman
It may take you months or even a few years to build up an adequate emergency savings fund. That’s okay. – Suze Orman
Take free money. No matter how in debt you are, if your employer offers a matching contribution on a 401(k) or other retirement vehicle, you must sign up and contribute enough to get the maximum company match each year. Think of it as a bonus. – Suze Orman
A pile of bills and statements – whether paid or not – is a sign that someone is clueless about what’s coming in and going out. – Suze Orman
Anything that gets people to think harder about their financial security and take some responsibility is a good thing. – Suze Orman
No one’s ever achieved financial fitness with a January resolution that’s abandoned by February. – Suze Orman
You must trust yourself more than you trust others. Pay attention to your inner voice – it will tell you if how and in what you are investing is right for you. – Suze Orman
Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings. – Suze Orman
To make the most of your money, I recommend sticking with mutual funds that don’t charge a commission when you buy or sell. – Suze Orman
Prenups are so unromantic – a sign of distrust, not love. Time for a reality check, my friends. First, drawing up a prenuptial agreement together is a sign of incredible trust and financial openness – you’re fooling yourself if you think you can achieve complete intimacy without it. – Suze Orman
If there is anyone dependent on your income – parents, children, relatives – you need life insurance. – Suze Orman
Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation. – Suze Orman
Understand and accept the cycles of money. The setbacks you may have today or next year will not keep you from financial freedom. If you hold on to your goals and dreams, you will get there. – Suze Orman
I have always advocated doing everything possible to pay off credit card balances; it’s good financial management and the ticket to a strong FICO credit score. – Suze Orman
It’s fine to seek professional help, but I urge everyone – no matter how big their portfolio – to truly understand every suggestion they’re given before acting. – Suze Orman
Don’t let what others think or say get in your way; their actions reflect on them, not you. – Suze Orman