Suze Orman’s Wealth-Building Secrets in the Midst of Inflation: Here’s How She Plans to Invest in 2024
Written by
Gabriel Vito
Edited by
Nicholas Morine
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Renowned money guru Suze Orman predicted the mass financial hardship U.S. citizens experienced in recent years, stating “inflation is here to stay for quite a while” in a 2023 interview with Yahoo Finance. She claimed at the time that inflation largely came about due to food and baby formula shortages, chip scarcities, and geopolitical tensions such as the Ukraine-Russia conflict and strained relations with China.
Considering the current condition of the market, Orman emphasized income generation overgrowth in her investment strategy, favoring preferred and dividend-paying stocks. “More than growth, I really care now about generating income,” she said in an interview with ThinkAdvisor.
Orman also explained that she holds bonds, which often hedge against inflation. She has invested in them for over 20 years and recommends them to investors in today’s volatile market. She explained: “I love I bonds. They’re for everybody because the minimum is $25, and it goes all the way up to $10,000.”
Emergency Savings Also a Must, According to Orman
She advocates for emergency savings accounts for all, irrespective of wealth, highlighting the importance of financial preparedness.
Orman’s new venture, SecureSave, offers an employer-sponsored platform for automatic emergency savings deductions from paychecks, aiming to alleviate financial stress for employees. Studies show that most employees don’t put money into retirement accounts because they’re afraid they won’t have access to their funds in case of an emergency. SecureSave requires no limitations and does not require you to be 59½ to make withdrawals like other retirement vehicles.
Orman also stresses the need for proactive financial legislation like The Emergency Savings Account Act of 2022 and encourages support for such initiatives.
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