it's your money and suze knows best. she's here live with our studio audience. tonight, suze orman answers your questions. >> what steps should i take right now to set myself up for financial success? >> investments. >> we want to know where we should invest our money for a down payment so we can buy our condo the quickest way. >> your family. >> i would like to know how to introduce the concept of saving and the discretion of money with my children. >> your money. >> why do they say real estate's going up, suze, when really reality, my house is going down. >> and more. >> how do i start preparing for my retirement? >> suze orman, dollars and currents cents, the hottest issues of the day. >> 14 times the supreme court defined marriage as a

fundamental right and gay and lesbian couples deserve a fundamental right. good evening. this is "piers morgan live." i want to welcome my very special guest, suze orman, and our studio audience. we will have questions from the audience here and from you at home. to ask suze questions directly, tweet us using our show handle,@"piers morgan live" and use tonight's special hash tag, suze on pml. i want to begin with a story so many people are talking about in america tonight. cnn has been on it all day, same sex marriage at the supreme court. something suze feels very strongly about. ryan anderson is the author of "what is marriage, man and woman, a defense." ryan, why are you so opposed to gay people getting married?

>> i'm not really opposed to anything in this situation. i think that marriage exists to bring a man and woman together as husband and wife, to be mother and father to any children that union produces. at the supreme court in the cases that they're hearing today and tomorrow, should really not cut short the democratic debate that we're having. citizens all across the country right now are discussing what marriage is and why it matters. and what we want to see the court do today and tomorrow is uphold our constitutional authority to have that debate and to pass laws about marriage. >> okay. but when i asked the question why you're opposed to it, are you saying you're not opposed to it. are you in favor of gay marriage? >> i'm in favor of having the citizens have the authority to go to the ballot box and vote about marriage. and when they go -- >> now you sound like a politician. let's keep this simple. are you in favor or against gay marriage? >> i'm in favor of marriage between a man and a woman. >> so you're against gay marriage. >> i don't like phrasing it that way. you can phrase it that way. >> there is no other way of phrasing it.

you're either in favor of it or you're not. >> i think what marriage is a union of a man and a woman. >> do you believe that because as many argue, it has to do with procreation, basically the reason a man and a woman should be allowed to marry rather than a man and a man or woman and woman, is to do with their ability to procreate? >> i don't think it's only that. i think what it's built upon -- >> is that part of it? >> that's part of it. it's based on the truth that men and women are different and complementary and that the act that unites a man and woman is the same act that creates a new life. the reality that a child has a mother and a father and marriage is the institution that helps incentivize the mother and the father that created the child to commit to each other and then to care for that child. >> so would you ban everyone over the age of 50 from getting married? >> no. that was a great question that was asked today during oral argument. >> it is a great question. >> it's a great question. there's a great response. >> people over 50, men and women, they can't procreate. >> most men are fertile throughout the entirety of their lives. >> a woman over 50 is unlikely

to procreate. >> the marital norm still helps. if a man is faithful to his wife he's not creating fatherless children. government is not interested in regulating my love life. everyone is free to live and love as they choose. government's interested in the marital relationship because the unions of men and women -- >> what about -- at the moment under your logic, prisoners have a fundamental right to get married even if they're in prison and can't have sex with anybody. you would rather defend a prisoner's right to get married than you would suze orman's right to get married to her partner. >> so the supreme court looked at these cases about -- >> am i right? is your answer to that question yes? >> the supreme court looked at these cases of the fundamental right to marry for prisoners and they understood again because of what marriage is, is a union of a man and a woman, prisoners have that same right partly because they come out of jail and they still have lives. it's not as if once you go to jail you're there forever. they still carry on relationships. >> do you understand why i feel especially with suze sitting

here, an incredibly successful american business icon, who has been in a 12-year relationship with a woman she loves very deeply, i find it extraordinary that you as a fellow american would be quite happy to see a prisoner's right upheld to get married and you would be quite happy to have a principle which says it's about procreation even if people are 60 or 70 years old and can't procreate if they're women. but you don't want suze to have the right to marry the woman she loves. i find that bizarre but i want you to explain to her what's wrong with her? >> i don't think there's anything wrong with you. all americans have the right to live and to love how they choose to. and we don't need government redefining marriage to make this a reality. all 50 states, in all 50 states -- >> if suze wants to get married, though, you don't want her to have the same right as you to do that. who are you to say that? i understand you're not the only

person in america who feels this. it's a polarizing issue even though it's moving very fast as you know in the polls in favor of same sex marriage. but i just find it odd that you want a certain right for you, but you don't want to afford it to someone like suze. >> i want the right to marry to be for everyone. the question is what is marriage. i think that marriage is intrinsically, what it is is a union of a man and woman, husband and wife, mother and father. but i think all adults should be free to live and love as they choose. they can join a religious community and perform a wedding in all 50 states, this is legal. they can join a place of employment that will give them marriage benefits in all 50 states, that's legal. you don't necessarily need the government calling your adult relationship a marriage to live and to love how you want to. >> suze, i've -- >> i was really silent. i was really silent there. >> what are you really feeling right now? because this is the debate laid bare.

this is a guy sitting a few feet away from you who says nope, i don't want people like you to be able to have the same right to get married as people like him. what it boils down to. >> i feel compassion for you, and i'll tell you why. because i know that you believe very strongly what you believe, but i also know that you're very, very uneducated in how it really, really works. and i believe from the bottom of my heart that if you really, really understood why the government does need to get involved, why it does need to be legal on a federal level, if you really understood that, there is no way that you would sit there and say what you are saying right now. >> that assumes that i'm ignorant. i don't assume anything badly about you. i just think we disagree. president obama himself has said that there are people of good

will and sound mind on both sides of this issue. i agree with the president. so i'm not going to call you names and i'm not going to say you're ignorant, that you don't understand, but up until the year 2000, no political community on the face of the earth had ever defined marriage as anything other than a male/female relationship. i think there's good reason for that. >> you have your facts down. you are really a great recorder -- >> where does the american constitution say that a same sex couple can't get married? >> the constitution doesn't. which is why the supreme court shouldn't say that. >> just to clarify, you have assumed that that is the position, that america should adopt. >> i think that citizens in 41 states have defined marriage as union between a man and woman and the u.s. federal government has done that in the defense of marriage act. if you want to change those laws, we can have a discussion, we can take a vote, we can let the democratic process work its way out. but i think the constitutional question before the court right

now isn't whether or not same sex marriage is a good or bad idea. it's whether or not citizens have constitutional authority to pass laws about what marriage is. >> let's get a question from someone else in the audience. this is simon becker. interesting question. it's on the same theme. actually it cuts to what suze was about to get to, which is the economic reality never mind anything else, about this debate. >> hi, suze. i was wondering what the economic benefits are for children who are being raised by gay parents who can get married. >> yeah. there's tremendous economic benefits and i'll get to that in one second. piers, there is also tremendous economic disadvantages to not being able to be married, which is why i said i don't think this gentleman really understands it. while it is true that every state can say you can legally get married, it means nothing on the federal level. that means what? that means we don't get to partake in estate tax. we each have to pay estate tax no matter what. it means here i am and i'm

married to k.t. and i'm covered under insurance for my corporation and i want to cover her. if it's not recognized, k.t. has got to pay income tax on that health benefit. that could be $3,000 to $5,000 a year. if we were legally married, recognized on the federal level, k.t. would not have to pay a penny. then we have all kinds of things such as social security. let's just say, k.t. never worked her entire life and now we're older, i'm going to be 62 here, i'm going to be able to collect social security as we get older. as a legally married couple on a federal level, k.t. would be able to collect half my social security upon my death, she would get my entire social security. but not now. we don't get to participate at all. for a child, let's just say you're in a relationship and you have children and they're legally your children, and you're staying at home with your

children and taking care of them and raising them just the way that i'm sure this gentleman would like you or thinks children should be raised. you have the privilege to be able to stay at home because not everybody does. and the money that's being brought in by your spouse who is a woman, and now she dies. you can't get social security based on her income. you can't get the widow's benefit so there's all kinds of things. >> you've heard suze there spelling out loud and clear the key issues. it's not just about issues you raise. there are sound economic reasons why it's just unfair. >> so i think we can craft public policy that treats all americans fairly without redefining marriage. i'll give you an example. the case tomorrow before the supreme court on the defense of marriage act involves a same sex couple when one of the spouses passed away, the other was hit with the inheritance tax like you mentioned. i'm a fellow at the heritage foundation for the past 15 years. we have been urging congress to repeal the inheritance tax

because the death tax is bad tax policy. you can ask yourself this question. what if instead of being a lesbian couple, the two women in question were elderly sisters who lived together, loved each other, had shared their lives together all their life, one passed away, the other one was hit with the inheritance tax. is there any reason why the lesbian couple would deserve the tax break and not the two sisters? i think this is evidence to my mind that what we can do to fix this is craft better tax policy, not redefine marriage. >> the problem is, however, right now, estate tax for most people aren't a problem because it's a $5 million estate tax exemption. so if that had happened now, we wouldn't be in that situation but how about health benefits, how about social security? you are dealing in an economic situation right now where it's like are they really going to recraft tax policy, do you really think that's possible, is that what you think is going to happen? >> i think these are secondary

issues. the primary function that marriage serves in every society is protecting the rights of children. everything we've discussed so far has been about adult relationships. what institution -- >> i don't know. one out of two people who get married in the united states of america, heterosexual marriage, gets divorced. why the number one argument is over money. marriage is not keeping people together, sweetheart. it's not the function you say it is. and it isn't about children. this is about -- >> this is the problem. >> people don't want a child. what if this couple here never want a child? what if you were sterile and couldn't have a child? >> marriage is what connects the mother and the father with each other for the child. 40 years ago -- >> no. marriage is what connects the husband and the wife together as one. >> for the sake of connecting a mother and a father with a child. otherwise, we -- >> really? >> -- would have the government out of the marriage industry.

>> we have a live studio audience here. what do you say to him? really? >> in the court of this public opinion, but in america, there are lots of people who agree with me. so we should have this conversation and not -- >> the trouble, ryan, as you just discovered in this audience is actually popular opinion is moving very, very fast. mainly i think a generational issue. how old are you? >> 31. >> interesting to me that someone of your age still maintains -- >> mothers and fathers are important. i think we need to have an institution that holds up the ideal that men and women are different and mothering and fathering are different phenomenons. >> wait one second. he can talk all about what he thinks and his belief and he is seriously in the minority, especially at the age of 30. anybody at the age of 30, if you take polls all throughout the united states right now, they are way in the majority of like what are you people even talking about, what issue is this. but piers, more than this being what he says, mother, father, it's about two people being able

to have the ability to say i love you, and i want to be with you forever. it's about sitting at a thanksgiving dinner and while the kids are at the table, asking the other people when did you meet, how was your wedding, how did you get married and there k.t. and i are sitting and nobody's asking us. >> i thought elton john and his partner, their second baby thefr they've now got, i have never seen two more loving parents in my life. and the idea that you want to stop people like elton and david or suze and k.t. from getting married, from getting married in america in the modern era, i just find a bit offensive these days. it's not fair, it's not tolerant, it's not american. anyway, let's take a break. when we come back, i want to talk about money. i want to talk about what wall street's red-hot run means to people here. they're not all calling it in like wall street.

another day with a record high for the dow jones and s&p 500, now less than two points away from its own all-time closing high. it's been a big week on wall street. what does that mean for you in our audience and everyone at home? suze orman is back to answer all that. you can ask your questions at "piers morgan live" and following along with the conversation with tonight's special hash tag, suze on pml. the dow hit an all time record today, smashing its own record

which it set almost every other day for the last three weeks. we should all be absolutely delirious, suze. i can see people in the audience thinking wow, the dow, brilliant! does it bypass me? that's what we're all thinking. who's making the money here? is it more of them and us? >> i think at this point it is more of them than us, if you define us as main street, the people possibly in this room. when you think about the people that really are not employed right now, that are barely getting by, it's not affecting them and why isn't it affecting them? because they cashed out their 401(k)s and their retirement accounts just to get by. they aren't participating in this increase in real estate prices and the stock market. so they don't care. many people, however, that are employed, that are involved with the 401(k) plans, they're opening their statements and they're feeling better, rightfully or wrongfully, they're going oh, my god, i'm richer than i was a year ago at this time.

when they feel better, they then do what, they spend more money which helps the economy and now here we go. >> let me get to whitney in the audience, who has a very pertinent question which many people who are in the position you just described may be thinking. >> hi, piers. hi, suze. i'm whitney. i'm 25. i would like to start investing but i want to know how can i do it and smart tart small with not that much to invest but i want something that can build over time. >> whitney, there's always a time and a place to do everything. so many times when you're asked a question how do you invest, usually a financial advisor says this is what you do, whitney, but a good financial advisor would say to you whitney, do you have any credit card debt. do you, whitney? do you, whitney? i'm talking to you. >> no, i don't have credit card debt. i do have like student loans. >> all right. so what's the interest rate of your student loans?

>> i'm going to act like that's rhetorical because i don't know. >> here's the thing. you invest with money that you do not need. you need an eight-month emergency fund before you start investing. you need to make sure that you're totally out of credit card debt. you need to know that when you invest this money, you're not going to touch it for a long period of time. so if all that was true and you were going to invest, although i would rather see you get out of student loan debt if it was at a high interest rate before investing, i would have you do a roth i.r.a. if you qualified for one, put the money in a roth and start buying exchange traded funds or no load mutual funds where you would just do it every single month, buy an index fund so it buys the entire stock market just to see what that feels like. little by little. you can do $100 a month, $50 a month. there are mutual funds that will do that. >> excellent advice. let's take another question in the audience. i like this one. i like it because it's marital discord, really, over the

situation in the property market. today we found out that house prices are rising in america but the number of house sales is falling. it shows that it's a rather confused market and you two are the perfect illustration of that confusion. tell me why. >> hi, suze. frank and i are married, we're both retired. we own a very large house and it's just the two of us, and we have a pretty significant mortgage on it. personally i hate seeing that money go every single month to pay this big mortgage. i would like to sell the house, get rid of the mortgage and enjoy my retirement more with money that goes to the mortgage my husband does not feel the same way. >> suze, piers, i want to keep the big house. >> okay. there you have it. what would you recommend? >> well, now here we have -- >> don't cause a divorce here. >> -- arguments over marriage. the real question would be why do you want to keep something that really is costing you money, that as time goes on,

there's no guarantee it's going to appreciate, it's very possible, here we are on the east coast, mother nature now is your partner. many of these homes depending on where it is, they have been destroyed in hurricanes, in floods. you have ongoing expenses and here you are in the later years of your life, really you're both retired, why do you want to be asset rich and possibly cash poor? now, if you tell me you have nor more than enough money to afford this house, do everything you want and upon your death, she would still be okay and she's sitting there saying no, i won't. >> i don't want to be in the position of having to sell this house. >> why don't you just sell it? i would say sell it. if you came to see me, i would say please, it's a house, downsize now, save the money, do things like that. but the real question is if you died and something happened to you, where you became incapacitated, does she have

enough money and is she okay with the house? is she? >> yes. >> so that's why -- because -- do you feel like you're okay? >> yeah, i do. i don't want to be paying this giant mortgage every month. >> seems to me if you were so okay you would take the money and just pay off the house and why do you have a mortgage anyway but that's just me. but really, people who are really, really okay don't have mortgages and they say the tax write-off. are you kidding? i have four homes. i don't have one mortgage. i don't know one seriously wealthy person that has a mortgage. really? >> okay. >> suze, perfect. thank you so much. >> marilyn and frank, thank you both so much. take another break. when we come back, we'll talk about the one word that sends a shiver down all our spines. taxes. [ male announcer ] this is joe woods' first day of work.

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back with me now is suze orman and my live studio audience taking your questions. you can tweet,@piersmorganlive. let's get to another question. it's about the dreaded "t" word, tax. tom, over to you. >> hi, suze, should i use a regular tax person or -- a cpa, or you know, should i go out and really get my time into this thing with taxes or just somebody just normal? >> or do like an online program or something like that? >> like turbo tax. >> so do you have more than one piece of real estate? >> yes, i do. >> how many do you have? >> two, going to be three. >> two going to be three. are they really complicated, your taxes? >> on and off. it depends. >> so here's the thing. i would do two things for the first time. i would get a program like turbo tax or whatever it is, and i would do my own taxes. i would then go to somebody the same year and i would have the other somebody do my taxes, and

see how did you do on your own. if you did relatively the exact same as somebody you paid to do it, then you know next year just do it on your own. >> can i say something about taxes. i saw my own tax return the other day. i've only been living as a resident in america for like, you know, this forest of paperwork arrives. where i come from, you have two little scraps of paper and you're done. i couldn't believe the bureaucracy involved in a simple tax return. why is it like that in america? is it time that americans just reduced the amount of paperwork, bureaucracy complication? >> i have believed forever that we should have a flat tax. i understand very well that there are tax incentives when you buy a piece of real estate and you get to write off the interest. i don't think that should be. i think there are people today that can't afford pieces of real estate and so if they have to rent, why should they be penalized because they're renting and they can't afford this and all this stuff. so i think everybody should be

put in the same situation, flat tax, get rid of all these tax things, the irs, get rid of all of it. just do it, done. >> now a question on twitter here. this is from @stocks2000. how much savings and cash does an average 67-year-old widow need? ray pretty wide-ranging group of people would be affected by your answer. >> here's what's very sad about this question is that while it is true that everybody is benefiting who wants to buy real estate and do certain things by low interest rates, the people that are being hurt dramatically by low interest rates are the people who are retired today, because there is no place for them to get a decent return on their money and keeping their money safe. think about it, piers. five years ago, $200,000 would yield you $10,000 a year in a certificate of deposit. today, if it's $2,000, you're

lucky. so how do you live a lifestyle and do anything? so to answer this question for this woman, it will depend not on how old she is, but it depends on what are her expenses. does she still have a mortgage, does she still have a car payment, does she get social security, does she not. so you need to be able to have all of the money, times it by about 2% or 3% which is about the return you're going to get, and if that, after taxes, will cover your bills, then you know you have enough money. but there isn't one simple question here, especially with interest rates as low as they are. it is a travesty that we've done the our retired people in the united states. >> i totally agree with that. is there a time and age changing dramatically too in america, you believe, fundamentally, is it getting older or younger now, the retirement age of most americans? >> years ago i used to sit and

say to everybody take social security at 62, it doesn't make any sense to wait until you're 65 when the full social security age was 65. now i'm telling people don't retire until you're 67 or 70, do not take social security until at least 67, hopefully until you're 70. everything has changed. most people now are living until they're 85, 90, 95. my mom died last year at 97, piers. so most people are going to spend more years in retirement than they ever did working and with these low interest rates environment, with the erosion of what happened in retirement accounts, many people not being in the retirement accounts to recoup all of this, they're not going to be able to retire before they're 67 or 70, if that. i am so sorry to say. >> yeah. pretty disspiriting. for a fellow that wanted to go to a beach at 50. we'll talk about tiger woods' amazing comeback. cheryl sandberg leaning in. and also want to throw to you

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i had to look at it if i get healthy i know i can play this game at a high level. i know i can be where i'm contending in every event, contending in major championships day in and day out if i got healthy. >> tiger woods after reclaiming his ranking as the world's number one golfer. i'm back now with suze orman and my live studio audience. you played with tiger woods? >> i love this for him. what happens in life is that people fall off, you know, from their fame and then it goes along enough that all of a sudden you're like all right, it's time now. i think he paid his dues, he said he made a mistake. i'm very thrilled for him. i'm thrilled that he found somebody and i hope he lives a really great life. >> well said. i feel the same way. but, there's a slight but, we addressed this last night. nike quickly brought out this ad

with a picture of tiger, winning takes care of everything, which many thought was pretty insensitive, actually, given the indiscretions that led to his downfall at the time. what do you make of that as a marketing ploy? >> i think it was a very, very large mistake and i think that like many of these large corporations, they don't think about something, they just go ahead and they do it and they slap it up. i don't think tiger had a lot to do with that by any means. i think they are now using tiger again because he's winning. but i think nike was very silly that they did that. >> i agree with that as well. let's get another question now. to set this up, it's about bankruptcy. dionne warwick has filed for personal bankruptcy in new jersey, citing more than $10 million in debt stemming from apparent mismanagement of her finances. if it could happen to her, one of the biggest stars in american music, it could happen to anybody. tell me about your experience and why you want to ask suze a

question. >> hey, suze. i do, i want to talk about bankruptcy. i have a good friend right now that's going through bankruptcy, and he feels a lot of shame about it, so i wanted to ask you what's your best advice for somebody who is going through bankruptcy, how do you recover from it? >> here's -- if there was ever a time to go through bankruptcy, it is now. if there was ever a time for you not to feel bad about going through bankruptcy, it is now. because how many people in the united states of america are broke? how many people are going through bankruptcy? so you're not alone anymore. you're standing with a whole group of people but here is what the shame is. most people who claim bankruptcy once claim it twice. so if you are claiming bankruptcy, you have got to learn because if you get yourself into that situation again, if you go out and you rack up all this credit card debt and all this stuff again, and you have to claim bankruptcy

again, then i say shame on you. >> well said. well said. let's go to another question here about cheryl sandberg. >> hi, huz suze. how are you? what do you think about the new book "lean in"? >> i love it. >> me, too. i stayed up all night reading it. >> you were leaning in there. >> here's the thing. i was just here at cnn a few weeks ago and i heard her speak, and if people really listened to the conversation that she wanted to have and she's having now, if they really read the book, they would understand that what she said is absolutely true. what really upsets me is that the main people putting her down are other women, and nothing gets me more infuriated when women put other women down.

like what is that about? women need to help each other up. women need to be, you know, really the best cheerleader for somebody else saying great, that happened to you, i love that for you. but her points that she makes are very valid. think about this very quickly. i'm out at a restaurant and i see four or five men at the bar, 3:00 or 4:00 in the afternoon, they've just come from wall street or wherever they are, they're drinking, they're out with their business partners. you see a man and woman at a bar having a drink. what do you think? you don't think they're business partners. you think oh, i wonder if he's cheating on his wife. or it's 3:00 or 4:00 in the morning and you're really working on a program and it's two men, one walks out, you don't think anything odd of it. but if it's a woman producer and she leaves your hotel room at 3:00 or 4:00 in the morning, what's everybody going to think? >> hard working girl. >> uh-huh.

>> i think this is a key point. it always struck me women were very, very shy about wanting to negotiate good pay rises and so on. the men would be steaming in all day long demanding this, that and the other. women are quite tough on other women, like you said, but they're not tough enough with the men, in my experience, in a workplace. they should be more expansive i think about that. >> what's really sad about her, i'll just say this quickly because i'm such a fan of hers, they're all criticizing her because she got two degrees at harvard, she lives in a 9,000 square foot home and -- >> she's a brilliant woman. >> she earned it. >> good for her. great moment today. president obama choosing a veteran secret service agent, julia peerson as his secret service director, first woman to ever lead the agency, coming after a year of a lot of scandal involving agents and prostitution and so on. she won't be taking any more of that nonsense, will she. are you pleased? another glass ceiling gets chipped away?

>> i love that. i have to tell you, i love the moves president obama has been making lately. i love the things that he's doing. today is just an example and it was long, long overdue so i'm thrilled that that happened. not only for the secret service but for america as well. >> yeah. it's a great day for women in america. a great day for julia peerson. let's take another break. when we come back, we'll talk about the family. i want to talk about family finances, weddings, babies, funerals. all of it. i had enough of feeling embarrassed about my skin. [ designer ] enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer through 6 months. [ male announcer ] enbrel may lower your ability to fight infections.

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i'm back now with suze orman, my special guest and my live studio audience. suze, let's talk weddings, babies, funerals. in other words, all the things that everybody gets round to or most people do at some stage in their lives. i got a twitter question, how much money should i ideally spend on my wedding? i guess how much money should i ideally spend on my wedding? and i guess, for that, you could also say for a baby -- >> as little as possible. no, really. >> but everybody wants a fairy tale, suze.

they want to have all the of the stuff. >> all right, here we are, i did get married in south africa to k.t. by the way, in south africa, same-sex marriage is treated the exact same way as heterosexual -- there is no difference, what so ever. >> do you want to get married, by the way? >> oh, so badly, i can't even tell you. i was saying to k.t., if they overturned -- if that happens -- because if that happens, that means in the states where it is legal, that means that all the things will apply. i said k.t., we may have to become a resident of one of those states now. right now, we're floridians. but i tell you, i would go and change and be a resident of new york or california just to be part of that. [ applause ] >> that's good. >> but the point that i wanted to make there, so when we got married, we went to a justice of the peace and we did it. it cost us nothing.

so i am so against these weddings that cost a lot of money. and they just end up in divorce a few years after that anyway. so i think get married. stay together. if you know everything is okay, use the money, buy a house, start yourself off financial lif. and if you're still together five or ten years from now, then save the money and have a wedding then. >> final question of the order. this is from natashia. a question about children and savings. >> hi, suze. as a mother, i'd like to introduce the con september of save concept of saving to my young children. >> you have to first introduce them where are they going to get this money that they're going to save. so, chances are, momma, you're giving them an allowance. is that correct? >> um-hmm. >> well, why are you giving them an allowance? >> well, they have to earn it. chores, responsibleties. >> there should be certain things that they do around the house that they don't get paid for. that's because they're living in a house. and then you should set up something called work pay.

they get $2 if they do this, they get $4 if they do this: then they take that money. here's the thing, if you make them save it and not touch it, they won't work for money anymore. so let them earn money and let them do whatever with it when they're young. and then, one day, they'll see, oh, i wished i had saved. >> i actually do that. when my daughter receives any moneys, birthdays and stuff, i tell her spend half, save half. that way, she at least appreciates that she has something to fall back on. >> but, momma, here's the real question. are you saving money for you? >> i am trying. i am trying to work hard at that. >> momma, kids do not do what you say u they do what you do. if you really want to have an effect on your children, especially your daughter, you have to have an emergency fund. you have to take care of yourself. momma has to give to herself more than she gives of herself. and momma, i'm here to tell you you don't do that.

i can see it in you right now. so if you really want to teach them to save, teach them to save themselves by you saving yourself, girl frenld. [ applause ] >> thank you very much. >> i've asked this a lot on my show in the last couple of years, as the economy has tanked almost the whole time. do americans just generally overspend? at what point is personal responsible ility have to kick in. i want to see these sales in november and everyone is rushing out spending billions of dollars. i'm thinking where does this money come from? i don't think most of you have this kind of money to splash around. so what is going on? do americans overspend? >> yes, americans overspend. but i think, now, in general, people everywhere, throughout the world, are overspending, as well. i used to travel and talk to people. and they didn't have credit card debt. and they didn't have these things. and now it's rampant throughout the entire world. i think a lot of what happened with the recession and the

credit restriction, it taught people that if you don't have money, you can't buy the things that you need. but here's what's happening. people are forgetting already, piers. they're forgetting what it was like. credit limits are expanding again. credit is becoming available for people to buy homes. people are buying homes again without 20% down and we're starting, once again, to get on that track of spending more money than we have to impress people we don't even know or like. >> yep, and it's not a clever idea, as people can tell you, who have lost their homes and livelihoods. let's take another short break and we'll be right back with suze orrman. [ male announcer ] this is bob,

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my special guest, suze suze orrman. we've sadly reached the end of a thrilling rock through the world's financial problems, with you, suze, as always. if i could get you to leave us with one overriding thought to all americans to think about money in a sensible way, what would you want it to be? >> that, you know, just seriously to live below your means but within your needs. get as much pleasure out of saving as you do spending and to really only buy needs not buy wants. but, most of all, what i would want to leave people with is really understand that marriage equality needs to be a right for every single person in the entire country. [ applause ] >> i'd like to thank -- excellent studio audience. thank you very much to the great questions we've had from you and to the people we've had at home. it's been a very lively hour. and i'd like to thank suze for the magnificent bottle of wine which i intend to enjoy tonight.