Suze Orman
While a reverse mortgage can indeed be a viable way to generate income, it is very important to understand that after you take out a reverse mortgage, you will still be responsible for paying the property tax, the insurance premium, and all the maintenance costs for your home.
A reverse mortgage is available to anyone who is at least 62 years old and owns a home outright, or has a small mortgage balance remaining.
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.
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.
The new American dream is one of responsibility. What is the bottom-line number that you're going to be able to pay back toward a student loan responsibly if you're doing it yourself after you have a job? That dictates the amount of money you can borrow. That dictates the school you can go to, if you can even go to a four-year college at all.
One journalist estimated my liquid net worth at $25 million. That's pretty close. My houses are worth another $7 million.
For seven years after college, I was a waitress at the Buttercup Bakery in Berkeley, and from there I got a job at Merrill Lynch as an account executive, from where I went to vice president of investments for Prudential-Bache Securities. I started my own firm in 1987.
My greatest pleasure is still flying private. I spend between $300,000 to $500,000, depending on my year, on flying private.
I have a million dollars in the stock market, because if I lose a million dollars, I don't personally care.
Success is not how many zeroes your bank account has. It's about making the most of the life you have.
It wasn't until I stood in my truth and told everybody that I had $250,000 in credit card debt. At that point, everything turned around for me. I had to reveal the truth about what I didn't have, more than pretend about what I did. That was interesting.
I always knew that I would have to make it on my own somehow.
I do not think I am successful just because I have money. I'm successful because I love who I am and I have no regrets, and I'm successful because I have a great heart and I have compassion and I care and I would be happy with or without money.
Not everything is about money.
I want to work with the Philippine people and make life better there; there are systems I can work with.
I want to conquer the unknown. I really, really want to live on the water and captain my own boat. I have dreamed of going around the world on a boat.
Live below your means but within your needs.Collection: Mean
If you expect your money to take care of you, you must take care of your money.Collection: Care
Although money alone won't make us happy, the lack of money surely will make us miserable.Collection: Miserable
Stop buying things you don't need, to impress people you don't even like.Collection: Money
When you understand that your self-worth is not determined by your net-worth, then you'll have financial freedomCollection: Self Worth
Stop saying yes out of fear about what others will think about you and say NO out of love for yourself!Collection: Thinking
Time and love are the most valuable possessions you can share.Collection: Time And Love
Bad debt is sacrificing your future day needs for your present day desires.Collection: Sacrifice
You have to see every potential roadblock as an opportunity and a benefit.Collection: Opportunity
We need to give people more of an incentive to work, to save, to invest, to create a true future for themselves.Collection: People
There's nothing wrong with saying, "I want to have more," "I want to be more," "I did this for money."Collection: Want
The truth is women in the workplace don't have to fight nearly as hard for opportunities, or to dispel stereotypes, as they did before.Collection: Success
Money is a topic that touches all races, all religions, all sexes, all ages, all tax brackets. It's a universal language that truly has been held up to us in society as a thing that determines whether we are successful, worthy, whether we have contributed something to life or not.Collection: Sex
Money is the only thing you can use even if you don't have any. ... There's always a credit card.Collection: Money
I am a financial planner, not a psychiatrist, but I do know that your net worth will rise to meet your self-worth only if your self-worth rises to accept what can be yours.Collection: Self Worth
Power comes from who you are, not what you have, and the transformation starts with how you allow others to treat you.Collection: Transformation
I grew up thinking that because I couldn't read, I was stupid and would never amount to anything. I worked my way through college as a waitress and thought I wasn't capable of doing anything else. My grades in English were horrible, and I barely got through.Collection: Stupid
Messages about money are passed down from generation to generation, worn and chipped like the family dishes.Collection: Money
Choosing wealth as a goal requires facing everything about your money bravely, honestly, with courage -- which is a very, very hard thing for most of us to do.Collection: Goal
You can't build a future if you do not know who you are. You can't become who you are meant to be if you can't tell the truth about who you are, what you have, and everything about your life. The truth is the absolute essence to your success, while lies are the absolute essence to your failures.Collection: Lying
Cleanliness is a state of purity, clarity, and precisionCollection: Clarity
If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.Collection: Kids
Remember to remember your power - everything you've learned with these steps to financial freedom - and put it all into practice everyday, because in the grand scheme of life, you'll never really know how things are meant to turn out until they turn out.Collection: Practice
At the end of your life, you cannot take a penny with you. So what is the object of money if you can't take it with you?Collection: Pennies
Women need to turn their attention from saving their spouse, their mothers, their this, their that, their kids, to putting that financial oxygen mask on their face first. When they're solid, they can pick up the whole world.Collection: Mother
One has to ask what is the goal of life? What is the goal of life? My interpretation of it for myself, a very wise teacher once taught me this, is to meet the needs of the people, places and the times around you and offering those services to God.Collection: Wise
If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.Collection: Retirement
Just because one of you earns the paycheck doesn't mean that person should lord over how the money is handled.Collection: Money
Many of the good things would never have happened if the bad events hadn't happened first.Collection: Events
Try handling problems in the office as dispassionately as you can and I guarantee you will have a better time of it; not least because when you bring emotion into the conversation, you furnish your colleagues with an easy "out" for dismissing you. If you are able to strip out the emotion, however, people have to deal with you based on the facts.Collection: Jobs
As our net worth falls, so does our self-worth. Ironically, it's when we don't have it that we most feel we have to flaunt it.Collection: Money
I'm in a relationship with life. My life is just out there. I'm on the road every day. I love my life.Collection: Life
Liking who you are and liking what you do can make you an incredibly successful person.Collection: Successful