Core Insights - Suze Orman emphasizes that building wealth is achievable through simple strategies, primarily focusing on spending less and earning more [3][4] Spending and Saving - Orman's primary advice is to monitor income versus expenses, advocating for saving a portion of income each month, especially for younger individuals [3] - The act of saving monthly contributes significantly to wealth accumulation over time [3] Investment Strategies - Orman recommends utilizing a Roth retirement account instead of a traditional retirement account, highlighting the benefits of compounding and after-tax contributions [4][5] - She warns against the common mistake of choosing accounts that provide immediate tax write-offs, stressing the long-term advantages of Roth accounts [5] Roth IRA vs. Traditional IRA - A Roth IRA allows contributions with after-tax dollars, enabling tax-free withdrawals after age 59 1/2, provided the account has been open for at least five years [7] - In contrast, a traditional IRA offers pretax contributions with immediate tax benefits, but taxes are due upon withdrawal during retirement [7]