BEALE AFB, Calif. –
In her first-ever appearance for the Air Force Reserve Command, internationally acclaimed personal finance advisor Suze Orman spoke Nov 8 at Beale Air Force Base. In conjunction with the Air Force Year of the Family, Orman spoke to Reservists, their spouses, and 9th Reconnaissance Wing active duty members on the importance of financial readiness.
Demanding military members give the same attention to their personal finances as they do to their jobs, Orman redefined a military buzzword, saying that financial readiness boils down to TFI - "total financial involvement."
"If you have what it takes to protect this country, which you do, don't tell me you don't have what it takes to take care of your own finances," Orman said.
Orman, the author of nine New York Times Best Sellers and host of her own show on CNBC, emphasized that financial freedom is a result of having an eight-month financial reserve, putting money away for retirement, and having no debt.
Named in 2008 and again in 2009 to Time Magazine's TIME 100 World's Most Influential People and to Forbes' 2009 list of the Most Influential Women in Media, Orman's financial philosophy is frank. "The law of money goes like this: Power attracts money. Powerlessness repels it," she said. "And debt makes you powerless."
Orman interacted with audience members for nearly an hour, responding to questions on a wide variety of financial issues from mortgages to wills, credit cards, and life insurance.
"I liked that she specifically addressed issues important to military members, like the SGLI," said Chief Master Sgt. Mary Chiapelli, 940 WG Chief of Military Personnel Programs. "Young people really need that brought to light."
Chief Chiapelli said that she also appreciated the advice Orman offers in her books for people who are closer to retirement. "I've watched her show, too. I think what she (Orman) has to say is good for people of all ages to know."
Master Sgt. Otis Hall, 940 WG Chief of Personnel Systems Management, agreed with Chief Chiapelli, "She (Orman) covered topics near and dear to me, having lost my mother 3 years ago."
Referring to Orman's advice regarding wills and living revocable trusts, Master Sgt. Hall said, "I've had to go down that road. It's something everyone should look into."
Lamenting that her time with the Beale audience was not sufficient to answer everyone's questions, Orman concluded by personally thanking Lt. Col. Cindi Feldwisch, 940 WG Chief of Public Affairs, for inviting her to speak.
"A lot of people worked very hard to make this event happen," said Lt. Col. Feldwisch. "We'd especially like to thank the 9 RW Public Affairs and Civil Engineers for their help, as well as the AAFES staff."
"Suze's presentation on family financial readiness, as well as the Yellow Ribbon events held earlier that day, were valuable opportunities for our Airmen to focus on health and wellness, one of the pillars of excellence being highlighted during the Year of the Air Force Family," Lt. Col. Feldwisch said.