Today, Suze Orman is one of the world’s foremost financial experts. Once upon a time, though, she was a little girl who watched her father run into a burning building.
As Orman explained on her podcast, she and her mother went to pick her father up from work one day and found him outside the chicken shack where he worked. The chicken shack was ablaze, and Orman watched her father run into the building that was engulfed in flames.
Fortunately, Orman’s father survived the inferno, but when he came back out, Orman said he was holding his all-metal cash register. He suffered third-degree burns and experienced ongoing health complications because of that decision. But his choice on that fateful day was the beginning of several lessons Orman learned that shaped her attitude toward finances.
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‘Money is more important than life’
One of the first things Orman said she took away from the fire incident was that “I learned, or I thought I learned, the lesson that money was more important than life itself because I watched my father risk his life for money.”
Orman believed this because she saw her father risk his life to save his cash register, which held all the money he had.
His willingness to save what he had worked for showed Orman the importance of protecting her own financial future, which is something she has inspired many others to do throughout her career.
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‘I wanna have conviction. I want to be strong’
Orman also learned from the fire incident that she should be strong and determined. She explained that as a volunteer in the hospital, she watched her father cope with the treatment for the severe burns that he had endured.
While she said the treatment must have been painful, her father was stoic. And she decided she wanted to exhibit the same characteristics in her own life.
“I wanna have conviction. I want to be strong. I wanna be like my father. That’s what I wanna be like,” Orman said on the podcast.
‘I saw that they were never ever going to give up’
Finally, Orman took one more key lesson away from the fire incident. She wanted to emulate the work ethic her parents had shown during this challenging period.
Orman said that her father didn’t know how he’d pay the bills following the fire, but her mother worked as a legal secretary and picked up extra shifts at Avon. And while her father developed emphysema from the exposure, which progressively got worse and kept him up all night, “he would get up, and he would go to work.”
She herself became just as determined not to fail, and she felt that if her father was able to push through despite his health challenges, nothing could stop her, and failure would not be an option for her either.
While her father also taught her about investing in the stock market, and about not wasting his pennies, those lessons may have been secondary to the lesson about perseverance and dedication he taught his young daughter.
“What I learned from my father was a work ethic that there was a saying in our house that “an Orman never gives up” and my father never ever, ever gave up.”
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Christy Bieber is a US based personal finance and legal writer who has 15 years of experience. She has written for many publications including Forbes, Kilplinger, CNN, WSJ, Credit Karma, Insurify and more.
