1 00:00:29,370 --> 00:00:33,919 Suze: June 15, 2025. Welcome everybody to the Women and Money 2 00:00:33,918 --> 00:00:38,549 Suze: Podcast as Well as Everybody Smart Enough to Listen. Suze 3 00:00:38,549 --> 00:00:44,500 Suze: O here, and today is Suze school. But because today 4 00:00:44,500 --> 00:00:46,099 Suze: is a special day. 5 00:00:46,918 --> 00:00:50,419 Suze: We're going to do a Suze Story. Now, why is 6 00:00:50,418 --> 00:00:55,020 Suze: today a special day? Well, truthfully, for two reasons. Number one, 7 00:00:55,549 --> 00:00:59,830 Suze: it is Father's Day, and for all of you fathers 8 00:00:59,830 --> 00:01:02,029 Suze: that are smart enough to listen to the Women and 9 00:01:02,029 --> 00:01:08,980 Suze: Money podcast, we wish you a very, very happy Father's Day. 10 00:01:09,190 --> 00:01:11,339 Suze: And even if you aren't listening 11 00:01:11,569 --> 00:01:15,319 Suze: and your spouses are listening. You can tell them, everybody, 12 00:01:15,440 --> 00:01:20,349 Suze: that Suze and KT wished them a happy Father's Day. 13 00:01:20,739 --> 00:01:23,360 Suze: Today is also special, by the way, because it is 14 00:01:23,360 --> 00:01:30,319 Suze: KT's mother's 97th birthday if she had been alive. She 15 00:01:30,319 --> 00:01:33,940 Suze: died 15 years ago, and I have to tell you, 16 00:01:33,959 --> 00:01:38,010 Suze: we called her Mamma T. Anne Travis, and 17 00:01:38,529 --> 00:01:42,009 Suze: out of all the mothers, my mother, my aunt, all 18 00:01:42,010 --> 00:01:47,230 Suze: the mothers really I've ever met in my lifetime, Mamma 19 00:01:47,230 --> 00:01:52,040 Suze: T was maybe one of the greatest, greatest of them all. 20 00:01:52,370 --> 00:01:53,779 Suze: She had 6 children. 21 00:01:54,379 --> 00:01:58,480 Suze: She raised them with hardly any money at all. KT's 22 00:01:58,480 --> 00:02:02,349 Suze: father would bring in money. She would take care of it. 23 00:02:02,519 --> 00:02:05,519 Suze: And when she died, we found her ledger. She kept 24 00:02:05,519 --> 00:02:09,179 Suze: track of every penny, and there were so many times 25 00:02:09,440 --> 00:02:10,240 Suze: that her balance, 26 00:02:10,330 --> 00:02:14,399 Suze: it was down to literally $50 and that's all she 27 00:02:14,399 --> 00:02:18,160 Suze: had but somehow she made it work and she really 28 00:02:18,160 --> 00:02:24,679 Suze: did raise six extraordinary kids that all loved her so 29 00:02:24,679 --> 00:02:28,520 Suze: much I can't tell you, but obviously I got to 30 00:02:28,520 --> 00:02:31,839 Suze: know her for a number of years. She died in 31 00:02:31,839 --> 00:02:36,600 Suze: 2010 and remember I met KT in 2001. 32 00:02:37,000 --> 00:02:39,940 Suze: So for all those 9 years, I got to become 33 00:02:39,940 --> 00:02:43,809 Suze: close with Mama T and she would always say to 34 00:02:43,809 --> 00:02:45,589 Suze: me when we were alone, she would say, 35 00:02:46,470 --> 00:02:51,759 Suze: "Suze, does Kath drive you crazy?" and I'd say "Sometimes, 36 00:02:51,889 --> 00:02:54,369 Suze: Mamma T, but it's worth it." She goes, "I just 37 00:02:54,369 --> 00:02:56,728 Suze: don't know how you do it." You must have the 38 00:02:56,729 --> 00:02:58,250 Suze: patience of a saint. 39 00:02:59,008 --> 00:03:02,550 Suze: And the reason she would say that is that KT 40 00:03:02,550 --> 00:03:04,699 Suze: is a little bit of a control freak in case 41 00:03:04,699 --> 00:03:08,100 Suze: you don't know. And whenever we would go to visit 42 00:03:08,100 --> 00:03:11,460 Suze: her mom or KT would go on her own to 43 00:03:11,460 --> 00:03:16,119 Suze: visit her mom, KT would always rearrange all of Mamma 44 00:03:16,119 --> 00:03:19,300 Suze: T's drawers and all these things, and Mamma T would 45 00:03:19,300 --> 00:03:23,410 Suze: just sit there and go, "Kath, I like how everything is." 46 00:03:23,860 --> 00:03:26,259 Suze: But KT did it anyway. But 47 00:03:26,720 --> 00:03:30,990 Suze: we miss you, Mamma T so much. Happy, happy birthday, 48 00:03:31,320 --> 00:03:35,479 Suze: and just know we celebrate you every day, not just 49 00:03:35,479 --> 00:03:38,399 Suze: on your birthday. All right. 50 00:03:39,410 --> 00:03:42,690 Suze: As I said earlier, today is Father's Day, and it 51 00:03:42,690 --> 00:03:46,009 Suze: did dawn on me that so many of you write 52 00:03:46,009 --> 00:03:48,649 Suze: me and you tell me how much you love when 53 00:03:48,649 --> 00:03:51,729 Suze: I talk about my mom, and you love that, and 54 00:03:51,729 --> 00:03:56,259 Suze: of course you do, because most of you listening are women. 55 00:03:56,880 --> 00:04:01,639 Suze: Most of you listening are probably mothers, and there's nothing 56 00:04:01,639 --> 00:04:05,320 Suze: more than a mother loves than hearing stories about a 57 00:04:05,320 --> 00:04:09,080 Suze: daughter who loves her mother in the hopes that their 58 00:04:09,080 --> 00:04:12,190 Suze: daughters or sons love them as much as well. 59 00:04:12,970 --> 00:04:17,178 Suze: But what's interesting is I think about all the podcasts 60 00:04:17,178 --> 00:04:21,868 Suze: we've ever done, and KT and I really, really don't 61 00:04:21,869 --> 00:04:26,630 Suze: talk much about our fathers. Now what's interesting is that 62 00:04:26,630 --> 00:04:32,989 Suze: my father happened to die on Father's Day all the 63 00:04:32,988 --> 00:04:35,709 Suze: way back when when I was like 31 years of 64 00:04:35,709 --> 00:04:39,029 Suze: age and he was 71. 65 00:04:39,600 --> 00:04:44,209 Suze: So Father's Day always is a very interesting day for 66 00:04:44,209 --> 00:04:48,618 Suze: me because it is a celebration of him and also 67 00:04:48,619 --> 00:04:53,299 Suze: a remembrance of his death. But when I think about 68 00:04:53,299 --> 00:04:54,469 Suze: my father, 69 00:04:55,209 --> 00:04:58,630 Suze: what I want all of you to know is that 70 00:04:58,630 --> 00:05:04,018 Suze: from the bottom of my heart I really, really believe 71 00:05:04,019 --> 00:05:07,190 Suze: and I know without a shadow of a doubt that 72 00:05:07,190 --> 00:05:12,988 Suze: I am who I am today because of the lessons. 73 00:05:13,790 --> 00:05:17,029 Suze: He taught me when he didn't even know he was 74 00:05:17,029 --> 00:05:18,140 Suze: teaching them to me. 75 00:05:19,200 --> 00:05:22,880 Suze: One of the lessons he taught me was you didn't 76 00:05:22,880 --> 00:05:26,269 Suze: have to have a lot of money to be interested 77 00:05:26,269 --> 00:05:29,000 Suze: in learning about stocks. 78 00:05:29,920 --> 00:05:34,600 Suze: He subscribed to something back then called Value Line. Remember 79 00:05:34,600 --> 00:05:38,160 Suze: there weren't computers or anything, and the only way that 80 00:05:38,160 --> 00:05:42,839 Suze: you could get information about stocks in depth then was 81 00:05:42,839 --> 00:05:46,440 Suze: through certain services, and there was a service called Value 82 00:05:46,440 --> 00:05:50,558 Suze: Line that put out, I think it was weekly, this 83 00:05:50,559 --> 00:05:55,359 Suze: yellow kind of little tiny pamphlet about all the stocks 84 00:05:55,359 --> 00:05:57,070 Suze: that they were covering that week. 85 00:05:57,450 --> 00:06:00,910 Suze: And you would take that and put it in a binder, 86 00:06:01,190 --> 00:06:06,440 Suze: and his binder was really about 12 inches thick, and 87 00:06:06,440 --> 00:06:10,320 Suze: they renewed it every single year, but he would go 88 00:06:10,320 --> 00:06:13,480 Suze: through those yellow pages. It was yellow, and he would 89 00:06:13,480 --> 00:06:16,399 Suze: go through them and he would study them and he 90 00:06:16,399 --> 00:06:19,440 Suze: would take notes and I would watch and I would say, 91 00:06:19,519 --> 00:06:22,600 Suze: "What are you doing, Daddy?" And he said, "I'm learning 92 00:06:22,600 --> 00:06:24,040 Suze: about stock, Suze." 93 00:06:25,000 --> 00:06:27,630 Suze: And I said, "What are stocks?" and he said, "Well, 94 00:06:28,170 --> 00:06:31,259 Suze: stocks are something that you need to know about one day." 95 00:06:31,259 --> 00:06:36,029 Suze: And that would be his answer. Shortly after that, he 96 00:06:36,029 --> 00:06:39,070 Suze: started something with a group of his friends called the 97 00:06:39,070 --> 00:06:40,029 Suze: Mint Club. 98 00:06:40,769 --> 00:06:44,320 Suze: And the Mint Club would meet once a month, and 99 00:06:44,320 --> 00:06:48,640 Suze: they would each put in about $15 or $20 a 100 00:06:48,640 --> 00:06:52,479 Suze: month and they would gather that and they would invest 101 00:06:52,480 --> 00:06:58,200 Suze: it in stocks and every month one of the members 102 00:06:58,200 --> 00:06:59,359 Suze: of the Mint Club, 103 00:06:59,940 --> 00:07:04,100 Suze: would have to host all the other members, and I 104 00:07:04,100 --> 00:07:06,820 Suze: used to love when my dad and mom had to 105 00:07:06,820 --> 00:07:09,899 Suze: host and and by the way my mom was involved 106 00:07:09,899 --> 00:07:13,458 Suze: with it too. All the wives came to learn, which 107 00:07:13,459 --> 00:07:17,570 Suze: I loved as well cause it wasn't just for men. 108 00:07:18,019 --> 00:07:20,890 Suze: I used to love when it was at our house, 109 00:07:21,420 --> 00:07:24,850 Suze: and they would all crowd into this little living room 110 00:07:25,059 --> 00:07:28,130 Suze: and they would all discuss which stocks they should buy 111 00:07:28,420 --> 00:07:29,350 Suze: that month. 112 00:07:30,010 --> 00:07:33,730 Suze: As time went on, the neighborhood changed. We lived on 113 00:07:33,730 --> 00:07:37,869 Suze: the south side of Chicago, and the Mint Club members, 114 00:07:37,890 --> 00:07:43,000 Suze: the majority of them, all moved to the north side. 115 00:07:43,489 --> 00:07:48,410 Suze: So the Mint club dispersed, but my dad never stopped. 116 00:07:49,010 --> 00:07:53,480 Suze: He kept putting little by little into the stock market 117 00:07:53,690 --> 00:07:57,250 Suze: of stocks that he was getting through Value Line. 118 00:07:57,809 --> 00:08:00,079 Suze: And I just have this image of him sitting at 119 00:08:00,079 --> 00:08:03,559 Suze: the table with his Value Line brochures around him or 120 00:08:03,559 --> 00:08:07,549 Suze: pamphlets or whatever you call them, reading the newspaper looking 121 00:08:07,549 --> 00:08:12,429 Suze: at the current stock quotes. What was fascinating about that 122 00:08:12,679 --> 00:08:17,600 Suze: is that when he did die in 1981, he had 123 00:08:17,600 --> 00:08:25,279 Suze: amassed $700,000 worth of stocks that he did leave my mom. 124 00:08:26,019 --> 00:08:30,369 Suze: So that was fabulous, but the lesson I learned there, 125 00:08:31,059 --> 00:08:34,289 Suze: is that you have to have knowledge even if you 126 00:08:34,289 --> 00:08:38,200 Suze: don't have money. You have to think things are for 127 00:08:38,200 --> 00:08:41,959 Suze: you even when you can afford them. 128 00:08:42,880 --> 00:08:45,900 Suze: So it was interesting because if I think about my 129 00:08:45,900 --> 00:08:51,580 Suze: own trajectory and how I started at this, remember everybody 130 00:08:51,580 --> 00:08:55,339 Suze: at the Buttercup Bakery gave me $50,000 to open up 131 00:08:55,340 --> 00:08:59,260 Suze: my own restaurant. I gave it to a broker at 132 00:08:59,260 --> 00:09:03,650 Suze: Merrill Lynch to hold it for me, and within 3 months, 133 00:09:03,700 --> 00:09:07,340 Suze: all of it was lost. But even though it wasn't 134 00:09:07,340 --> 00:09:08,739 Suze: my money, 135 00:09:09,429 --> 00:09:13,380 Suze: the lesson my father taught me by watching him was, "Suze, 136 00:09:13,500 --> 00:09:17,809 Suze: you better learn what that broker is doing with your money." 137 00:09:18,340 --> 00:09:21,520 Suze: And that's when I became like my father, and I 138 00:09:21,520 --> 00:09:24,380 Suze: started to read Barons and I watched Wall Street Week 139 00:09:24,380 --> 00:09:26,689 Suze: every Friday night with Louis Rue Keiser. 140 00:09:26,919 --> 00:09:29,750 Suze: And every day I would look at the Wall Street 141 00:09:29,750 --> 00:09:36,349 Suze: Journal and my whole bedroom was plastered seriously with newspapers 142 00:09:36,349 --> 00:09:40,669 Suze: with the stock quotes option quotes, and I had learned 143 00:09:40,669 --> 00:09:44,590 Suze: more in those one or two months than I think 144 00:09:44,590 --> 00:09:49,590 Suze: my financial adviser knew when it came to investing in 145 00:09:49,590 --> 00:09:53,260 Suze: options because the reason all $50,000 was lost. 146 00:09:53,570 --> 00:09:56,270 Suze: It is because Randy Koch, which was what his name 147 00:09:56,270 --> 00:10:00,358 Suze: was and probably still is, right, was investing in the 148 00:10:00,359 --> 00:10:03,348 Suze: options market. I didn't know what that was at the time. 149 00:10:03,960 --> 00:10:07,109 Suze: He made it look like I was a very sophisticated investor, 150 00:10:07,200 --> 00:10:09,619 Suze: which I obviously was not. I was a waitress at 151 00:10:09,619 --> 00:10:14,210 Suze: the Buttercup Bakery, and buying options is the most speculative 152 00:10:14,210 --> 00:10:17,200 Suze: thing you can do. 90% of people lose their money. 153 00:10:17,989 --> 00:10:21,729 Suze: And I seriously started to like... I didn't like that 154 00:10:21,729 --> 00:10:26,049 Suze: I lost the 50,000, but I liked learning, and I 155 00:10:26,049 --> 00:10:29,609 Suze: got that I could understand it, and it was with 156 00:10:29,609 --> 00:10:35,690 Suze: that knowledge, understanding that this could be for me, I 157 00:10:35,690 --> 00:10:40,260 Suze: went and interviewed with Merrill Lynch. They hired me obviously 158 00:10:40,260 --> 00:10:41,849 Suze: to fill their women's quota. 159 00:10:42,739 --> 00:10:47,859 Suze: But that was the start of Suze Orman, and that 160 00:10:47,859 --> 00:10:53,570 Suze: start started way back when with me watching my father 161 00:10:54,460 --> 00:10:59,210 Suze: learn about things that at the time he could not afford, 162 00:10:59,580 --> 00:11:03,780 Suze: so I found that very fascinating. Next thing I learned 163 00:11:03,780 --> 00:11:08,419 Suze: from my father was that money was more important than 164 00:11:08,419 --> 00:11:09,570 Suze: life itself. 165 00:11:10,130 --> 00:11:14,169 Suze: You all know the story about my dad had this 166 00:11:14,169 --> 00:11:17,729 Suze: little tiny place called Chicken A Go Go that was 167 00:11:17,729 --> 00:11:21,010 Suze: on the corner under these railroad tracks. It was like 168 00:11:21,010 --> 00:11:22,479 Suze: 400 square feet. 169 00:11:23,500 --> 00:11:27,150 Suze: And you could get fried chicken. You could get ribs, 170 00:11:27,159 --> 00:11:31,049 Suze: you could get all these things there. And my mom 171 00:11:31,049 --> 00:11:35,109 Suze: and I drove up to pick him up one day, 172 00:11:35,359 --> 00:11:39,479 Suze: and we saw him standing outside and the entire place 173 00:11:39,479 --> 00:11:43,280 Suze: was aflames. It was burning and all of a sudden 174 00:11:43,280 --> 00:11:48,039 Suze: my father runs back into the building to get the 175 00:11:48,039 --> 00:11:52,520 Suze: cash register cause every single penny we had to our 176 00:11:52,520 --> 00:11:53,069 Suze: name 177 00:11:54,030 --> 00:11:59,010 Suze: was in that cash register and back in those days 178 00:11:59,010 --> 00:12:00,849 Suze: the cash registers were metal. 179 00:12:01,630 --> 00:12:06,020 Suze: And he picked up that register, went outside. It was 180 00:12:06,020 --> 00:12:09,979 Suze: scalding hot, dropped it on the ground, and with that 181 00:12:09,979 --> 00:12:13,619 Suze: all the skin on his arms and his chest came 182 00:12:13,619 --> 00:12:17,780 Suze: with it. So he had third degree burns to try 183 00:12:17,780 --> 00:12:19,169 Suze: to save the money. 184 00:12:20,030 --> 00:12:23,609 Suze: And from that he got emphysema. 185 00:12:24,570 --> 00:12:28,760 Suze: But what was interesting is after that little store burnt 186 00:12:28,760 --> 00:12:32,760 Suze: down and he had recovered, he really didn't have any 187 00:12:32,760 --> 00:12:37,840 Suze: money to start a new place, but because of the 188 00:12:37,840 --> 00:12:43,319 Suze: relations that he made with his vendors; David Berg, the 189 00:12:43,320 --> 00:12:47,590 Suze: bread people, everybody, they all gathered together. 190 00:12:48,280 --> 00:12:51,739 Suze: And they gave him the money to open up a 191 00:12:51,739 --> 00:12:54,380 Suze: new little store, and this time he called it Maury's 192 00:12:54,380 --> 00:12:58,909 Suze: Deli on 55th Street in Hyde Park. 193 00:12:59,859 --> 00:13:02,570 Suze: Now the lesson that I learned there. 194 00:13:03,450 --> 00:13:06,549 Suze: Was that if you're good to the people that you 195 00:13:06,549 --> 00:13:11,190 Suze: do business with, you treat them with respect, you're kind. 196 00:13:12,000 --> 00:13:15,400 Suze: You somehow develop a relationship with them because you're all 197 00:13:15,400 --> 00:13:17,189 Suze: just trying to make a living. 198 00:13:18,340 --> 00:13:22,580 Suze: Those are people that one day might just come back 199 00:13:22,580 --> 00:13:25,900 Suze: and save you like he did with my father and 200 00:13:25,900 --> 00:13:27,650 Suze: therefore our family. 201 00:13:28,890 --> 00:13:32,510 Suze: So from there I learned that no matter who you were, 202 00:13:32,919 --> 00:13:34,710 Suze: what your position was in life, 203 00:13:36,179 --> 00:13:41,209 Suze: treat everybody with respect. Treat everybody as if they were you. 204 00:13:42,020 --> 00:13:46,440 Suze: And on some level treat everybody and see them, 205 00:13:47,340 --> 00:13:51,859 Suze: really as if they were God's creation, which in fact 206 00:13:51,859 --> 00:13:52,770 Suze: they are. 207 00:13:53,900 --> 00:13:58,619 Suze: So that was a very important lesson for me because 208 00:13:58,619 --> 00:14:03,098 Suze: it really came to play throughout my whole life and 209 00:14:03,099 --> 00:14:07,819 Suze: everybody I have ever worked with, my producers, my everybody. 210 00:14:08,669 --> 00:14:12,739 Suze: Because we were never a hierarchy with anything I created, 211 00:14:12,950 --> 00:14:15,739 Suze: we were all equals, and we all loved one another, 212 00:14:15,909 --> 00:14:19,070 Suze: and we were all there for one another. And therefore 213 00:14:19,070 --> 00:14:23,429 Suze: the end product that we created was created out of 214 00:14:23,429 --> 00:14:27,049 Suze: love and respect for each other, which you could feel 215 00:14:27,049 --> 00:14:30,510 Suze: as you listened or watched the Suze Orman show or 216 00:14:30,510 --> 00:14:33,909 Suze: read my books, you could feel it. 217 00:14:35,099 --> 00:14:40,460 Suze: From there I learned another lesson which was, as I 218 00:14:40,460 --> 00:14:44,570 Suze: just said, he contracted emphysema from that fire. 219 00:14:45,400 --> 00:14:50,830 Suze: And I would hear my father every single night. 220 00:14:52,210 --> 00:14:55,510 Suze: Cough and cough and cough and he had all these 221 00:14:55,510 --> 00:14:59,210 Suze: machines next to his bed and you'd hear the machines 222 00:14:59,210 --> 00:15:02,950 Suze: giving him all that medicine that he would inhale but 223 00:15:02,950 --> 00:15:05,440 Suze: every single morning. 224 00:15:06,289 --> 00:15:11,619 Suze: Absolutely no matter how sick he was that night, he 225 00:15:11,770 --> 00:15:15,929 Suze: would get up and go to work because he had 226 00:15:15,929 --> 00:15:22,270 Suze: responsibility in his mind to support his family. My mother 227 00:15:22,270 --> 00:15:24,320 Suze: also went to work every day. 228 00:15:25,070 --> 00:15:27,260 Suze: But she would just look at me and she would say, 229 00:15:27,309 --> 00:15:28,950 Suze: "I don't know how he does it." 230 00:15:30,020 --> 00:15:35,729 Suze: And that's where the saying: "An Orman never gives up" came from. 231 00:15:36,359 --> 00:15:39,150 Suze: And this didn't just go on for a week or 232 00:15:39,150 --> 00:15:43,229 Suze: two or three. It went on for the rest of 233 00:15:43,229 --> 00:15:46,859 Suze: his life till literally he could no longer even get 234 00:15:46,859 --> 00:15:47,739 Suze: out of bed. 235 00:15:48,479 --> 00:15:50,719 Suze: So from that I learned, 236 00:15:51,820 --> 00:15:55,650 Suze: there isn't an excuse big enough to keep you from 237 00:15:55,650 --> 00:15:59,239 Suze: doing that which you are meant to do. 238 00:15:59,950 --> 00:16:03,340 Suze: And so many times all of us, including me when 239 00:16:03,340 --> 00:16:06,859 Suze: I was younger, ah, I'll do it tomorrow. It's OK. 240 00:16:06,940 --> 00:16:08,450 Suze: I don't feel like it. 241 00:16:09,049 --> 00:16:13,109 Suze: That's not how I operate my life because of what 242 00:16:13,109 --> 00:16:15,909 Suze: I saw my father do. 243 00:16:17,140 --> 00:16:21,049 Suze: I always do what I need to do in the 244 00:16:21,049 --> 00:16:25,039 Suze: moment I need to do it. I don't put it off. 245 00:16:25,250 --> 00:16:28,890 Suze: I really don't wait till the last minute. I cannot 246 00:16:28,890 --> 00:16:34,150 Suze: do anything else if I know I have not completed 247 00:16:34,150 --> 00:16:36,090 Suze: the task at hand. 248 00:16:36,690 --> 00:16:42,320 Suze: And truthfully where this lesson really came to play was 249 00:16:42,320 --> 00:16:46,880 Suze: after the operation that I had back in 2020 when 250 00:16:46,880 --> 00:16:49,229 Suze: for three years everybody. 251 00:16:50,210 --> 00:16:54,090 Suze: At night my nerves would fire. I don't think I 252 00:16:54,090 --> 00:16:59,409 Suze: slept for three years, and I would still get up. 253 00:16:59,890 --> 00:17:02,500 Suze: And KT would help me get dressed, and I would 254 00:17:02,500 --> 00:17:06,889 Suze: go to the computer and turn on the videos because 255 00:17:06,890 --> 00:17:10,500 Suze: those were the years when the pandemic was happening and 256 00:17:10,500 --> 00:17:14,250 Suze: people wanted to hear from me and I was on 257 00:17:14,250 --> 00:17:18,419 Suze: all these shows and nobody had a clue that it 258 00:17:18,420 --> 00:17:19,969 Suze: took me an hour and a half to put my 259 00:17:19,969 --> 00:17:24,030 Suze: jacket on and KT another hour to put my makeup 260 00:17:24,030 --> 00:17:27,849 Suze: on so that I could do my job. 261 00:17:28,269 --> 00:17:32,109 Suze: But I don't think I could have done that if 262 00:17:32,109 --> 00:17:36,547 Suze: I didn't have the memory of my father doing what 263 00:17:36,548 --> 00:17:37,989 Suze: he did. 264 00:17:38,849 --> 00:17:39,800 Suze: So again, 265 00:17:41,010 --> 00:17:44,609 Suze: Dad, if you're listening up there, I just want you 266 00:17:44,609 --> 00:17:47,780 Suze: to know you so taught me that. 267 00:17:48,660 --> 00:17:52,300 Suze: As time went on, my father could no longer go 268 00:17:52,300 --> 00:17:52,930 Suze: to work. 269 00:17:53,770 --> 00:17:56,969 Suze: And he was in the hospital almost all the time. 270 00:17:57,680 --> 00:18:01,300 Suze: And so that meant that I had to do it. 271 00:18:01,550 --> 00:18:05,030 Suze: My brothers had to do it, and it was we 272 00:18:05,030 --> 00:18:06,829 Suze: had to show up. 273 00:18:07,739 --> 00:18:13,520 Suze: The next lesson I learned was that at my dad's deli, 274 00:18:14,060 --> 00:18:18,890 Suze: Maury's deli, he always had a line out the door. 275 00:18:19,609 --> 00:18:23,920 Suze: And it was the favorite place for everybody to come 276 00:18:23,920 --> 00:18:27,250 Suze: and eat. It was so much fun, really, and it 277 00:18:27,250 --> 00:18:29,680 Suze: wasn't a place that you could sit down and eat. 278 00:18:29,849 --> 00:18:32,479 Suze: You could just pick it up. It was a takeaway 279 00:18:32,479 --> 00:18:35,530 Suze: and come 12 o'clock you'd have to get ready cause 280 00:18:35,530 --> 00:18:39,890 Suze: I worked there and the lines, literally hundreds of people 281 00:18:39,890 --> 00:18:43,050 Suze: would come to buy his sandwiches. 282 00:18:43,739 --> 00:18:46,619 Suze: One day during the summer, I remember my friends and 283 00:18:46,619 --> 00:18:50,219 Suze: I went to downtown Chicago, and they all wanted to 284 00:18:50,219 --> 00:18:54,050 Suze: go to a deli to eat lunch, so we did. 285 00:18:54,420 --> 00:18:57,619 Suze: And what was fascinating, and we all shared everything cause 286 00:18:57,619 --> 00:19:00,770 Suze: we couldn't really afford a big sandwich on our own, 287 00:19:01,180 --> 00:19:06,729 Suze: is that the sandwiches at this deli in downtown Chicago, 288 00:19:07,430 --> 00:19:11,739 Suze: were twice as expensive as my dad's and it had 289 00:19:11,739 --> 00:19:14,500 Suze: half the amount of corn beef on it that my 290 00:19:14,500 --> 00:19:19,728 Suze: dad's sandwiches had. So I came home and I said, "Dad, 291 00:19:20,380 --> 00:19:23,859 Suze: I know how we can make more money." And he said, 292 00:19:23,939 --> 00:19:25,380 Suze: "And how is that, Suze?" 293 00:19:26,260 --> 00:19:31,050 Suze: And I said, "Well, it's very simple. Just raise your prices, 294 00:19:31,250 --> 00:19:34,699 Suze: double them, and cut the amount of meat on your 295 00:19:34,699 --> 00:19:39,718 Suze: sandwiches by 5%, and profit margin will absolutely go up." 296 00:19:40,560 --> 00:19:44,349 Suze: And he said, "Suze, did it ever dawn on you 297 00:19:44,349 --> 00:19:50,560 Suze: that I'd rather have 50% of something than 100% of nothing?" 298 00:19:50,939 --> 00:19:52,270 Suze: And I just looked at him. 299 00:19:53,150 --> 00:19:56,380 Suze: And with that he just walked away. Now how did 300 00:19:56,380 --> 00:19:58,449 Suze: that come to play in my life? 301 00:19:59,719 --> 00:20:03,719 Suze: As my career started to take off, and I started 302 00:20:03,719 --> 00:20:05,640 Suze: to develop products. 303 00:20:06,739 --> 00:20:10,380 Suze: Besides books, remember, I had the must have documents and 304 00:20:10,380 --> 00:20:14,979 Suze: the FICO kit and the insurance evaluator, all these things 305 00:20:14,979 --> 00:20:20,149 Suze: that I had created product, and I very easily could 306 00:20:20,150 --> 00:20:25,449 Suze: have manufactured them, created them all by myself, and therefore 307 00:20:25,650 --> 00:20:28,819 Suze: be entitled to 100% of the profits. 308 00:20:29,920 --> 00:20:35,000 Suze: But I rather have 50% of something than 100% of nothing, 309 00:20:35,250 --> 00:20:41,119 Suze: and that is when years ago I partnered with Hay House, 310 00:20:41,890 --> 00:20:44,329 Suze: who I love so much it's not even funny. 311 00:20:44,599 --> 00:20:49,349 Suze: But I had them manufacture and created and they took 312 00:20:49,349 --> 00:20:52,629 Suze: all the risks. That gold box that we used to 313 00:20:52,630 --> 00:20:58,819 Suze: sell on QVC, QVC sometimes would order 20,000 at a time, 314 00:20:58,949 --> 00:21:03,469 Suze: 100 or 200,000 at a time, and at $20 our 315 00:21:03,469 --> 00:21:07,630 Suze: cost for that box, that was a tremendous amount of 316 00:21:07,630 --> 00:21:11,188 Suze: money that you had to put out, but I never 317 00:21:11,189 --> 00:21:14,459 Suze: had to put that out. That was Hay House's risk. 318 00:21:15,089 --> 00:21:21,669 Suze: And we split profits fifty-fifty, just that simple. Now why 319 00:21:21,670 --> 00:21:25,760 Suze: was that a great thing for me? Because I got 320 00:21:25,760 --> 00:21:28,839 Suze: to create these products with them, obviously. 321 00:21:29,550 --> 00:21:34,849 Suze: But I didn't have any risk involved if they sold, OK, 322 00:21:34,969 --> 00:21:36,729 Suze: if they didn't sell, OK. 323 00:21:37,599 --> 00:21:42,229 Suze: But that allowed me to get on television to talk 324 00:21:42,229 --> 00:21:45,119 Suze: about it without me thinking about, "oh, we have to 325 00:21:45,119 --> 00:21:46,430 Suze: make this money back." 326 00:21:47,459 --> 00:21:51,250 Suze: I got to talk about why these products were something 327 00:21:51,250 --> 00:21:54,880 Suze: that you should purchase, how they will help you, how 328 00:21:54,880 --> 00:21:57,920 Suze: they'll make your life easier, all these things, and I 329 00:21:57,920 --> 00:22:00,399 Suze: never thought about the money. 330 00:22:01,530 --> 00:22:06,129 Suze: Because there's one thing interesting about money, you cannot sell it. 331 00:22:06,619 --> 00:22:11,420 Suze: You can only inspire people to purchase what they need 332 00:22:11,420 --> 00:22:12,459 Suze: to buy. 333 00:22:13,180 --> 00:22:17,469 Suze: And so 50% of something if you look at my 334 00:22:17,469 --> 00:22:18,500 Suze: life today, 335 00:22:19,469 --> 00:22:23,469 Suze: really serve me so well it's not even funny. 336 00:22:24,250 --> 00:22:29,579 Suze: So all of those lessons and I could go on 337 00:22:29,579 --> 00:22:31,630 Suze: and on and on. 338 00:22:32,489 --> 00:22:36,109 Suze: But I think you're getting the idea of the role 339 00:22:36,109 --> 00:22:43,189 Suze: that my father, my father served in making me the 340 00:22:43,189 --> 00:22:46,510 Suze: Suze Orman that I am today. 341 00:22:47,270 --> 00:22:51,260 Suze: Again, I wish you all a very happy Father's Day 342 00:22:51,260 --> 00:22:53,540 Suze: if you're a father out there and even if you're 343 00:22:53,540 --> 00:22:56,969 Suze: not a father out there wherever you happen to be, 344 00:22:57,459 --> 00:23:01,488 Suze: whether it's on this earth or up in heaven or whatever, 345 00:23:02,020 --> 00:23:04,939 Suze: just know all of you in your own way, 346 00:23:05,589 --> 00:23:10,459 Suze: have served a role in making us all who we 347 00:23:10,459 --> 00:23:12,729 Suze: really are to this day. 348 00:23:13,599 --> 00:23:17,849 Suze: And before we go, Ms. Travis has just joined me 349 00:23:17,849 --> 00:23:21,969 Suze: in the studio because both of us do want to 350 00:23:21,969 --> 00:23:26,939 Suze: wish one incredible father a Happy Father's Day. KT take it away. 351 00:23:27,150 --> 00:23:33,800 KT: Colo, Happy Father's Day, Poppy. Everyone loves you, especially your 352 00:23:33,800 --> 00:23:36,329 KT: three beautiful, beautiful children. 353 00:23:36,739 --> 00:23:42,150 KT: And your two furry babies, Toby and beautiful Mia. Happy 354 00:23:42,150 --> 00:23:44,060 KT: Father's Day, Colo. We love you. 355 00:23:44,349 --> 00:23:48,589 Suze: So very, very much, my dear. All right, that's everything. 356 00:23:48,630 --> 00:23:53,188 Suze: So until next Thursday when Miss Travis joins us again, 357 00:23:53,270 --> 00:23:54,188 Suze: are you going to join me, Miss KT? 358 00:23:54,329 --> 00:23:58,589 KT: Suze, they can't live without me, nor can you. 359 00:23:58,739 --> 00:24:01,780 Suze: That's true. I cannot, right? There's only one thing we 360 00:24:01,780 --> 00:24:04,550 Suze: want you to remember. You tell them what it is, KT. 361 00:24:04,550 --> 00:24:05,540 KT: People first... 362 00:24:05,660 --> 00:24:05,978 Suze: Then money... 363 00:24:06,459 --> 00:24:07,089 KT: Then things. 364 00:24:07,219 --> 00:24:10,770 Suze: Now you stay safe. Bye bye.