Suze Orman: Financial Illiteracy Rampant Among Americans

Suze Orman, renowned personal finance expert, believes that approximately 95% of Americans are financially illiterate. She emphasizes the importance of understanding terms like Roth IRA, retirement accounts, wills, trusts, durable power of attorney, advanced directives, and 529 plans. Orman recommends Roth accounts for their flexibility in retirement withdrawals and highlights the significance of estate planning to avoid government distribution of assets. Additionally, she encourages education on student loans and compounding interest. Orman aims to empower individuals to improve their financial literacy and offers her expertise as a resource.