News about Suze Orman

Personal finance expert Suze Orman has some strong words for Americans looking to eventually retire - put all the money you can into a Roth IRA. A Roth IRA is a type of Individual Retirement Account where you contribute after-tax dollars from your paycheck - and as money whiz Orman points out, all future withdrawals are tax free. That's a great deal more financial freedom then that offered by other retirement plans, including a 401(k). Those types of accounts are funded with pretax money, she adds - so your full dollar will have the opportunity to compound. At a time where every penny counts, the advice is more than welcome - and can give your money a much-needed boost.

According to grim new estimates, home insurance rates in the United States will reach a new high this year, with the average annual premium up 6 percent to $2,522 by the end of 2024. However, for those Americans, the reality is much worse - as they face the brunt of a country in crisis. In recent years, insurance premiums have increased in the United States, as a result of rising natural disasters, insurers' withdrawal from certain states, labor shortages, and higher premiums for home repairs.

This week, Realtor.com announced that new climate change concerns would be added to listings, ensuring that buyers avoid buying a house in an area that is in danger of floods or a wildfire. Since those factors would pose a threat to nearly half of all American homes in 2024, the corporation said it would now have heat, wind, and air quality data for each property. As it stands, listings now display a property's fire and flood risks.

According to brokerage company Redfin's reports, condo sales fell 6.8 percent statewide in Florida in January from a year ago, with waiting sales down 3.5 percent on the year. Despite declining rates, condo sales in the majority of Florida's major markets are down, in comparison to the rest of the United States, where prices are increasing and sales are stable. According to Redfin, condo prices in Miami dropped 3 percent in January from a year ago, down 9 percent, and new listings increased 27 percent.

Suze Orman, a financial specialist, has warned that climate change's rising property insurance premiums is destroying the American dream of homeownership. According to Orman, Americans will soon have no interest in owning homes as insurance premiums are too high to bear. In turn, this could cause real estate values to plummet. According to the National Oceanic and Atmospheric Administration, last year, the United States suffered 28 natural disasters that each cost at least $1 billion.

It's an age-old question guaranteed to spark debate: how much should you tell your partner about the state of your finances? The answer, according to Suze Orman, is absolutely everything; else, you could be charged with 'financial infidelity.' According to the 72-year-old media star, a rise in partners lying to each other about their spending habits is leading to divorces, and it is often women who pay the bill. 'Financial infidelity is just as bad as personal infidelity,' Orman told DailyMail.com.