Friday, March 2, 2012

Suze Orman's Advice To Filipinos

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Posted on Friday, March 2, 2012

Suze Orman's Advice To Filipinos
Suze Orman finally visited Manila and she gave some pointers to Filipinos especially to the families of Overseas Filipino Workers (OFW).

In her talk, Orman discussed about credit card debt and paying everything from your bill. The importance of saving and compounding, even giving a sample of saving $100 monthly at age 20 and earning $1 million by the age of 60.

The best advice that she gave was to the Filipinos overseas. She pointed out whether sending money to adult family members or relatives encourages their dependence on them. She said, "Is it possible that it's hurting them rather than helping them? Adding that some people may not reach their potential or may not be driven into making contingency plans because they have remittances to fall back on." She reiterated that helping parents is a different matter as she herself would like to take care of her mother.

Suze Orman came to the Philippines to fulfill her five year promise to her friend Doris Magsaysay-Ho, chairwoman of Asia Society Philippines. Suze usually earns $190,000 from speaking engagements in the US but her talk in the Philippines was pro bono.

Thanks Suze for your time and dedication to share your knowledge. I hope to see you again in your next visit in the Philippines or here in Singapore.

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