The Road to Wealth: A Comprehensive Guide to Your Money--Everything You Need to Know in Good and Bad Times

Suze Orman's face and name are more prominent on the cover of her new money guide than its title, The Road to Wealth . And why not? Orman has parlayed her popular renown as both a New York Times bestselling author and video-age financial guru into an undeniable position of respect and trust when it comes to matters of dollars and sense. This time she presents an encyclopedic guide to the various components of one's overall financial life--from managing debt and owning a home to making investments and preparing to pass it all along--and she does so in the clear and confident style to which her fans have become accustomed. "Here is what you need to know," she writes at the outset. "Answers to the questions you have been asking, as well as the questions you should have been asking, delivered in the most complete, straightforward way I know." While the concise text moves logically from "creating a strong financial foundation to amassing assets and protecting them from common mistakes and periods of economic downturn," this is not meant to be read from cover to cover. Rather, it is a ready bookshelf reference for planning and sorting out common finance concerns, like how to calculate the mortgage payment you can best afford, determine what Medicare will pay toward nursing care, decide between retirement plan options, and similar matters of personal importance. --Howard Rothman From Library Journal The queen of money advice tells you how to get out of debt, plan your retirement, buy stocks, and much, much more. Copyright 2001 Reed Business Information, Inc. From the Publisher Bonus: Suze Orman is giving each purchaser of The Road to Wealth a subscription to her bimonthly online newsletter, which offers regularly updated information on the stock and bond markets; Suze's stock and mutual fund picks; articles and projections from various economic experts; rates on money market funds, CDs, and credit cards; and all kinds of good, sound financial advice. The Road to Wealth and the Suze Orman E-Newsletter together are a truly interactive package and an indispensable reference tool for every financial library. Suze Orman is the author of three consecutive New York Times bestsellers, The Road to Wealth , The Courage to Be Rich , and The 9 Steps to Financial Freedom . Hitting The New York Times bestseller list after just one week on sale, The Road to Wealth (Riverhead Books; July 2001), currently has more than a half-million copies in print and was among USA Today's Top 10 Business bestsellers for 2001. The book appeared simultaneously on The Wall Street Journal 's hardcover nonfiction and Business bestseller lists, made USA Today's Business bestseller list, and held positions on the bestseller lists of Publishers Weekly , the Los Angeles Times , the Washington Post , the San Francisco Chronicle , and the Chicago Tribune , as well. The Courage to Be Rich (Riverhead Books), which was an instant #1 New York Times bestseller, currently has more than one million copies in print and was among the top ten nonfiction bestsellers on Publishers Weekly 's 1999 hardcover list. It was also #1 on the Business bestseller lists of The New York Times , USA Today , and The Wall Street Journal , where it simultaneously appeared on the Journal's hardcover nonfiction bestseller list. In addition, it made Business Week 's bestseller list, reached the #1 position on the Los Angeles Times list, and held spots on the bestseller lists of USA Today , the Washington Post , the San Francisco Chronicle , the Chicago Tribune , and the Boston Globe . The trade paperback version of The Courage to Be Rich was released by Riverhead Trade Paperback in January 2002. Suze Orman's other #1 New York Times bestseller, The 9 Steps to Financial Freedom (Crown Publishers), was released in April 1997. The hardcover book currently has close to 2.2 million copies in print and remained on the New York Times list for over eleven months. The #1 nonfiction bestseller on Publishers Weekly 's 1998 hardcover list, the book has been in the #1 position on the bestseller lists of many major publications nationwide, including The Wall Street Journal , USA Today , Business Week , the Washington Post , the San Francisco Chronicle , and the Chicago Tribune . It is currently available in six countries worldwide. Among USA Today's Top 10 Business bestsellers for 2001, the trade paperback version of The 9 Steps to Financial Freedom (Three Rivers Press; December 2000) already has 570,000 copies in print, with a total of six printings. Immediately hitting the New York Times bestseller list, it also appeared on the bestseller lists of The Wall Street Journal , USA Today , and Business Week . Suze Orman's first book, You've Earned It, Don't Lose It (Newmarket Press), which was originally published in January 1995, is currently in its 25th printing and has almost 600,000 copies in print in its combined hardcover, softcover, and audio formats. It also made the Business bestseller lists of USA Today , Business Week , and The Wall Street Journal . Ms. Orman's most recent PBS special, based on The Road to Wealth , was a smash hit and joined its two predecessors, The Courage to Be Rich and The 9 Steps to Financial Freedom , as among the most successful fundraisers in the history of Public Television. Suze served as writer, co-producer, and host of all three specials. Recently profiled in Worth magazine's 100th issue (October 2001) as among those "who have revolutionized the way America thinks about money," Suze was also recognized by Smart Money magazine in 1999 as one of its top thirty "Power Brokers" who most influenced the mutual fund industry and affected our money. She is also the recipient of the 1999 Motivational Book Award for The Courage to Be Rich from Books for a Better Life, which honors the year's most outstanding books and magazines in the self-improvement genre. Currently a contributing editor to O: The Oprah Magazine , Suze Orman is the Personal Finance Editor and hosts special programming titled, "Suze Orman's Invest for Success," on CNBC. She appears regularly on QVC as host of her own "Financial Freedom" hour, and has a nationally syndicated weekday radio talk show, "The Suze Orman Show." Ms. Orman, a Certified Financial Planner®* professional, directed the Suze Orman Financial Group from 1987-1997, served as Vice President of Investments for Prudential Bache Securities from 1983-87, and from 1980-83, was an Account Executive at Merrill Lynch. A sought-after speaker, Suze Orman has lectured widely throughout the United States and South Africa, helping people change the way they think about money. Ms. Orman, a former financial contributor on NBC News' TODAY and contributor to Self magazine, has been featured in such major magazines and newspapers as Newsweek , People , The New Yorker , Modern Maturity , The New Republic , and USA Today . She has also appeared on Dateline , CNN, MSNBC, Good Morning America , The View , and numerous times on Larry King Live and The Oprah Winfrey Show . *Certified Financial Planner® is a federally registered mark owned by the Certified Financial Planner Board of Standards, Inc. Excerpt. © Reprinted by permission. All rights reserved. THE ROAD TO WEALTH, INTRODUCTION INTRODUCTION When it comes to money, I deeply believe that the obstacles that keep us from having more and being more are rooted in the emotional, psychological, and spiritual conditions that have shaped our thoughts: In other words, what we have begins with what we think. This is the cornerstone of my approach to personal finance, and it was with this understanding that I wrote The 9 Steps to Financial Freedom and The Courage to Be Rich . I deeply believe that with self-knowledge and emotional clarity, a life of abundance is within reach for all of us. But once we have looked within and changed our way of thinking about money, another obstacle emerges-one that can keep us from taking the steps we know we should take. That obstacle is confusion. Many of us are confused about where to turn for information we can really rely on. We are confused about whom to ask for financial advice, and maybe even about what questions to ask. When we do get answers to our questions, we are confused because we can't be sure those answers are correct. In the face of all this, it may seem safer not to do anything with our money than to do something we do not entirely understand. But when we postpone necessary financial decisions, we are relinquishing opportunities to protect what we've earned and to enrich our future choices. Good financial information gives us the power to act in our own best interests. That's why I have written The Road to Wealth . I've spent much of the past few years traveling around the country, holding seminars on financial topics, and listening as many, many people talked to me about their financial hopes and fears. "Tell me what I need to know," people often say to me. "Here is what you need to know," I answer. This phrase, here is what you need to know, captures the very spirit of The Road to Wealth. Here you will find answers to the questions you have been asking, as well as the questions you should be asking, delivered in the most complete, straightforward way I know. The questions and answers are intended to remove obstacles on your road to wealth. In a world of competing financial interests and sources of information, it's important for you to feel as if you have a guide whom you can truly trust. I am honored that you have chosen me to be your guide. With this in mind, I have tried to provide sound, clear, comprehensive advice on a wide range of issues, which will take you through the course of your financial life. There is a logical sequence of information here, from creating a strong financial foundation to amassing assets and protecting them from common mistakes and periods of economic downturn. The chapters will see you through various life situations, beginning with freeing yourself from debt, for I believe that you cannot build a strong financial future on a base that is undermined by debt. The next chapters guide you through living together, marriage or life partnership, and the complicated process of buying a home for yourself and your family. It will help you to prepare for the future by choosing the right kind of insurance, saving for your children's education, investing knowledgeably both inside and outside retirement accounts, making savvy decisions about retirement income, and providing for the loved ones you will one day leave behind. I have chosen topics that, in my opinion, most affect your life, in both boon times and bad times. In doing so, I have written the practical counterpart to The 9 Steps and Courage -so that, with your head and your heart in agreement, you can take the necessary steps today so you arrive at your tomorrows happily and with all the wealth that is meant to be yours. The Road to Wealth is a book designed to help you take action-wherever you are in your life, whatever your needs, and whatever the economic climate. To that end, your purchase of this book comes with a free subscription to the Suze Orman E-Newsletter-a bimonthly publication available online through my website. (see page 543 for information on how to begin your subscription). The newsletter provides news, comprehensive resources, and timely counsel on all the topics covered in this book, but focuses on investing for the future. Among many other helpful tips, the newsletter will offer my current recommended asset allocation mix, a bimonthly stock market forecast, and ongoing analysis of proven investment strategies from trusted experts. As interest rates change, I'll make suggestions about refinancing your mortgage. If the laws change-as tax and bankruptcy laws are poised to do, as of the writing of this book-you will find my advice about the new legislation and its implications for your finances. The Road to Wealth will provide you with the paving stones for your financial future, while the newsletter will offer amplification of that information. In that way, this is truly an interactive financial book. Money is not stagnant; it is ever-changing. It means different things to each of us at different points in our lives. I encourage you to skip around in this book-go directly to the topics that concern you most right now; later, you can move on to matters that are relevant to that moment. Keep this book close and consult it often. Browse through the Table of Contents and the Index. Use it as a second opinion, to make sure you are getting advice that is right for you. And always, always trust that, with the faith and confidence that knowledge brings, step by step you will get to where you want to go on your own road to wealth. Suze Orman New York, 2001 --From The Road to Wealth by Suze Orman. Copyright (c) 2001, Riverhead Books, a division of Penguin Putnam, Inc. All rights reserved. Read more