Wednesday, June 29, 2011

Suze Orman Exclusive Interview on Link Between Wealth and Health

In her latest book, The Money Class, personal finance guru Suze Orman discusses the importance of understanding individual lifestyle habits to make smarter financial decisions. She sits with close friend and new Inspiration Editor of EverydayHealth.com Jillian Michaels, to talk about her road to success and shares her thoughts on the relationship between health and wealth. Read excerpts of the exclusive interview:

On overcoming financial obstacles early in her career:

JM: Your dream of opening your own restaurant was shattered and additionally you were now $50,000 dollars in debt. This scenario would have devastated most people, and yet you accepted the intervention of fate, found meaning in it, learned from it and subsequently the woman you are today was born. How would you advise someone who is suffering a major failure or setback to not give up and fall apart? How does one "turn lemons into lemonade"?

SO: You have to understand every "no" leads you that much closer to a "yes." When one door closes another door opens. A great teacher once taught me that you've got to have faith that everything happens for the best. I have had many setbacks in my career and every setback has led me that much further into my truth. After a few years of being a stockbroker, in 1987 I opened up my own firm and had another major setback where one of my employees ripped off all my money. It closed me down for a year or two and I ended up $250,000 in debt.

That situation turned out to be the greatest thing that ever happened to me because that's where I learned to stand in my truth. That's where I learned that the truth will always lead you to a better place and a bigger place.

And every single setback, every single one, has led me ? not in my time, but in the time that it was meant to happen ? to a place that I never in a million years could have imagined that I could go or become.

So the greatest advice I could give you is the lesson I was taught: that you'd better have faith that everything happens for the best. Nothing happens in your life that isn't something that you are meant to learn to get you where you need to go so you can become who you are meant to be. And that meant-to-be might be someone you don't even know exists at this moment in time.
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On the importance of making health a priority:
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JM: I want to take a moment to bridge the gap here between health and wealth. You are often quoted as saying that our health and our wealth go hand in hand. Can you explain this statement?
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SO: In most cases your health goes down the drain when you have wealth problems. You don't go to a doctor because you don't have the money. You don't eat the right food because you don't have money. You worry all the time because you don't have money. Your blood pressure is high because you don't have money, and on and on. This is why your health must be your priority.

You can have all the money in the world. You can be a multi-billionaire, but if you do not have your health it means nothing. Your health is the No. 1 important thing in your life.

JM: Can you share anything specifically about taking care of your financial priorities so you are able to take care of health issues? What should people know about saving for medical emergencies and or health insurance?
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SO: I can tell you this: The No. 1 reason for bankruptcy today in America is medical expenses. For this reason, health insurance is really important and each person needs to sit down and understand what they need health insurance for. Ask yourself: Are you someone who needs to go for medical exams all the time? Do you often get sick? Are you on medication? That's a whole different type of coverage versus being someone who is generally healthy, eats well, and doesn't get sick often. Health insurance can go two ways: You can have more costly health insurance, which will cover every single time you go into the doctor except for a small co-pay, or if money is tight and you're fairly healthy, then you should acquire major medical health insurance, which is a necessity in the event of a catastrophic injury or health emergency.
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JM: What health challenges have you faced, and what do you do personally to stay healthy?
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SO: This past year has been incredibly hard on me. I've had a horrific back with herniated discs and problems with my lungs that have kept me up at night for weeks on end. Because of this I've become an expert on all of these topics. I research them myself. I even read the books written by the doctors I have seen. And ultimately, with the power of being informed, I trusted my gut and knew when to listen to the doctors and when not to in order to turn my health around. With patience, time, trial and error, and information I was able to rehabilitate my back and manage my asthma that I have struggled with since childhood.
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Read the full article here

Source: http://www.thenextwomen.com/2011/06/29/suze-orman-exclusive-interview-link-between-wealth-and-health

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