Women & Money

What this book actually teaches

Women & Money by Suze Orman, published in 2007, argues that women's relationship with money is fundamentally different from men's — not because of capability but because of psychology, socialization, and the specific financial circumstances that women are statistically more likely to face: longer lifespans, career interruptions for caregiving, wage gaps that compound into retirement savings gaps, and the financial vulnerability that follows divorce or widowhood. Orman's central claim is that the same emotional intelligence and interpersonal fluency that women apply everywhere else in their lives tends to break down specifically around money — and that understanding why is the prerequisite for changing the behavior.

The book's structural device is what Orman calls the Save Yourself Plan, a step-by-step action sequence covering the financial accounts and documents every woman should have in order regardless of relationship status: a Roth IRA in her own name, a revocable living trust, a will, an advance healthcare directive, and a durable power of attorney. The emphasis on individual financial accounts — not joint accounts that depend on a partner's continued presence or cooperation — reflects Orman's consistent argument that financial independence is not a marital comment but a practical necessity given the statistical likelihood that a woman will at some point be managing her finances alone.

The savings and investment guidance is structured around specific accounts rather than general principles. Orman argues for the Roth IRA over the traditional IRA for most women, particularly younger women, on the grounds that tax-free growth and withdrawal in retirement is worth the after-tax contribution given the likelihood of needing the funds for a long retirement. The 401(k) employer match capture comes first in her prioritization — she is categorical about not leaving an employer match on the table — followed by Roth IRA funding, followed by additional 401(k) or 403(b) contributions to the annual limit.

Orman's treatment of the emotional dimensions of money is more direct than most personal finance writers attempt. The chapters on why women avoid money conversations, why they defer financial decisions to partners, and why they tend to prioritize everyone else's financial needs before their own are grounded in specific behavior patterns rather than general observations. The argument that financial self-care is a prerequisite for caring for others — not a selfish act but a structural requirement — is a recurring frame. The section on teaching daughters different financial attitudes than the ones that were modeled for most women is pointed: Orman does not frame financial self-advocacy as unfeminine but as a correctable historical error.

The insurance sections cover life insurance (term over cash value for most situations), disability insurance (Orman is categorical about this being underinsured among women), and long-term care insurance with specific guidance on when to buy it — she recommends the mid-fifties as the optimal window before premiums rise substantially and before health conditions disqualify applicants. The estate planning chapter reinforces the Save Yourself Plan: without a revocable living trust, assets pass through probate; without a durable power of attorney, a spouse or family member cannot manage finances during incapacity; without a healthcare directive, end-of-life decisions default to whoever shows up.

This is for women across a wide range of financial situations — early-career and mid-career, single and partnered, with and without existing investment accounts — who recognize that they know more about money in the abstract than their own financial accounts reflect.

The weaknesses are specificity and aging. Orman's guidance is general rather than tailored to the full range of situations women face: a woman with a pension, a government employee with a TSP, or a self-employed woman with a SEP-IRA will find the account-specific guidance less applicable than someone whose financial life fits the standard 401(k)/Roth IRA template. The 2007 publication date predates the 2010 Roth conversion rule changes, the ACA's impact on healthcare insurance decisions, and the changes to long-term care insurance availability and pricing that followed — specific insurance and account guidance requires verification against current rules and rates. The emotional framing, which is the book's most distinctive element, holds up better than the specific product guidance.

For women who have deferred or avoided financial decisions and need both a practical action sequence and a clear-eyed account of why the avoidance happens, Women & Money is one of the more honest and specific books in the genre — even if the 2007 specifics on products and accounts require updating.

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About Suze Orman

Read more from Suze Orman and explore the full bibliography on ClearValue Books.