Suze Orman's Women & Money: “Don’t Wait, For It Could Be Too Late”

Episode Date: November 20, 2025

Episode Overview

In this "Ask KT & Suze Anything" edition, Suze Orman tackles listeners’ pressing financial concerns—especially about retirement readiness, late-in-life financial pivots, and familial responsibility. The episode’s main theme is the urgency of taking financial action: "Don’t wait, for it could be too late." Suze’s responses emphasize self-empowerment, clear-headed truth-telling about personal finances, realistic retirement outlooks, cyber security warnings, and practical investment strategies.

Key Discussion Points & Insights

1. Beware Financial Scams in Suze’s Name

[03:34 – 05:48]

• Scam Alert: Suze addresses a listener's question about being contacted on social media to discuss financials and invest in Bitcoin after downloading WhatsApp.
  • Suze’s Warning:
    “I am never ever, ever going to answer you on a wall or in a public place...I will never direct you to go somewhere to download something to then take your money and say I’m going to go over it and put it buy bitcoin. … Don’t do it.”
    (Suze, 04:11)
• Advice: Only trust recommendations from known channels—Suze’s official websites or her Women & Money app. She may direct listeners to official sites like musthave docs or myalliant.com but never to personal chats or unknown apps.

2. Exchange-Traded Funds (ETF) Symbol Switch Confusion

[05:48 – 07:12]

• Listener’s Concern: SPLG mysteriously became SPYM with a higher expense ratio, should she sell?
  • Suze’s Take:
    “...I would sell SPYM and I would put it into VU and I would not own SPYM anymore. They should not have done that. Shame on them.”
    (Suze, 06:17)

3. Advice for Near-Retirees With Little Savings

[07:12 – 12:27]

• Case: Madeline and husband, late 50s–60s, pizzeria owners, little savings ($10,000), seeking retirement advice.
  • Suze’s Reality Check:
    “At 56, especially when all you may have is $10,000 to your name right now, that is not when you should be thinking about retiring.”
    (Suze, 09:08)
  • Action Steps:
    • Keep the $10k safe (money market or high-yield savings).
    • Keep working; rely on earning capacity, not the small nest egg.
    • Involve family: Discuss support and future care with your grown children.
  • Empowerment: “You have to trust yourself that you have what it takes to do this.”

4. Roth Conversions for Teachers With 403(b) Plans

[12:27 – 14:40]

• Teacher’s Question: Best way to convert a traditional 403(b) to a Roth account?
  • Suze’s Guidance:
    • Check if the school district offers a Roth 403(b). Conversions must stay inside the 403(b) system.
    • New contributions should go into the Roth 403(b) if available.
    • For permitted transfers, do so in amounts that won’t negatively affect your tax bracket.
  • Critical Lesson:
    "As a teacher, you need to know the financial lesson of the day... You cannot just take money out of the 403 and...convert it to an IRA or Roth IRA.”
    (Suze, 13:10)

5. Overcoming Investment Paralysis, Risk Aversion, and Student Debt

[15:14 – 20:13]

• High-Earner, Risk-Averse Lawyer (Jess): Makes ~$500,000/year, $100k in student loans, reluctant to invest despite seeing others succeed “instantly.”
  • Suze’s Advice:
    • Comparison Trap: “People only love to talk about how much they're up…very seldom...can you believe it, I lost $100,000…”
    • Safe Start: Consistently invest in S&P 500 ETF (like VOO)—“dollar cost averaging.”
    • Mindset Shift: “You have got to stop comparing what you're doing and others are doing...”
    • Control: “You have to face your money and not be afraid of it...figure out what are you going to do to silence that fear.”

6. Late Starters: Shame, Responsibility, and Family Support

[20:13 – 24:25]

• Angela: 60, no retirement or investments, paid for children’s education, feels ashamed.
  • Suze's Key Point:
    “You have to take care of yourself first. Then you have the ability to take care of your children.”
  • Family as Financial Support:
    “Since you did not do that, your children now, in my opinion, have the responsibility of taking care of you.”
  • Inspiration:
    “There is no excuse big enough to keep you from being who you are meant to be.”
    (Suze, 23:36)

7. Is It Ever Too Late?

[24:31 – 26:05]

• Suze’s Nuanced View: While it’s rarely too late, there are extreme cases (elderly, truly destitute, no social supports) where her usual optimism doesn’t apply.
  • Suze’s Honesty:
    “There does come a time when even the great Suze Orman seriously had no idea what to tell you to do to help yourself. Honestly.”
    (25:00)
  • Motivation: For most listeners, act now—at 60, 70, even 80, you still have options: “Just start now.”

8. Debit vs. Credit Card for Everyday Spending (“Quizzy” Segment)

[26:13 – 30:02]

• Listeners (Damian & Partner): Disagree on using debit (security, can’t overspend) vs. credit (rewards).
  • KT guesses “security” wins, but Suze disagrees:
  • Suze’s Rationale:
    • Debit cards are insecure (direct access to cash).
    • You should control your money, not fear it.
    • Passing up cash-back or rewards is leaving free money on the table.
    • Memorable Line:
      “Are you out of your mind? Do you have any idea the extent that KT and I go to to get cash back?”
      (Suze, 28:53)

9. Overwhelmed & Indebted at 51—Facing Bankruptcy

[30:02 – 33:40]

• Stacia (51): Behind on bills, rent, $30,000 debt, can’t sleep, retirement dream in jeopardy.
  • Suze’s Immediate Focus:
    “Forget about the future for now. Let's deal with the present.”
  • Advice:
    • Contact NFCC (National Foundation of Credit Counselors) for help.
    • Stand in your truth: It may be time for bankruptcy if debt exceeds income.
    • Once stabilized, start building gradually for the future.

Notable Quotes & Memorable Moments

• On Retirement Readiness:
  “The mere fact that you have no money but yet you're still thinking about retiring doesn't go together. That is not the truth of your situation.” (Suze, 09:08)

• On Financial Shame & Family Responsibility:
  “Do you have what it takes to ask them…what can they do now to help you?...Let’s make finances a family affair.” (Suze, 22:00 – 23:35)

• On Getting Started (at any age):
  “Start now you're 60. Start now you're 70. Start now—even 80. Start now.” (25:55)

• On Credit Cards:
  “You best admit that you were wrong because in fact, you are.” (Suze, 29:15)

Important Timestamps

• [03:34] Scam warning & official channels
• [05:48] ETF symbol/expense ratio issue
• [07:12] Late-starter retirement realities
• [12:27] Teacher Roth conversion guidance
• [15:14] High-earner risk aversion, investing advice
• [20:13] Shame after paying for children’s education, family responsibility
• [24:31] When might it really be “too late”?
• [26:13] Debit vs. credit card “quizzy” debate
• [30:02] Debt, rent arrears, and potential bankruptcy
• [33:40] Closing thoughts and encouragement

Tone & Style

Friendly, candid, sometimes humorous, but blunt and deeply empathetic—Suze pulls no punches but aims for empowerment, realism, and immediate action. She weaves her personal experience and signature sayings throughout to comfort and inspire listeners without sugarcoating tough truths.

Summary Takeaway:
If you’re worried it’s too late to fix your finances—act now. The worst thing is not to start; waiting could make it “too late.” Seek help, bring family into the conversation, stay vigilant against scams, and focus on what you can control, starting today.