Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Friendship Isn't A Financial Plan
Dec 7, 2025
Discover why making financial decisions based on friendship can lead to costly mistakes. Learn the nuances of tax-loss harvesting and how to offset losses effectively. Suze emphasizes the importance of choosing performance over low fees when selecting financial advisors. She also warns against selling cherished stocks at a loss for tax purposes while encouraging savvy strategies like dollar-cost averaging. Finally, stay alert to scams and fraud with practical advice on safeguarding your financial accounts.
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Friendship Cost A $2M Account
- Suze Orman tells the story of "Susan," who moved $2M from a proven advisor to a friend's newly minted advisor to avoid a 0.5% fee difference.
- The transfer cost her security and illustrates that friendship should not drive major financial moves.
Prioritize Track Record Over Fee
- Do not base investment decisions solely on fees; prioritize track record and performance over a small fee saving.
- Protect your financial security by saying no when loyalty or guilt would harm your returns.
Realized Vs. Unrealized Gains Matter
- Tax-loss harvesting offsets realized gains by selling losing positions you no longer want to hold.
- Realized gains are taxed, unrealized gains are not, so timing and intent matter critically.