Story & Photos by Marianne Salza
Financial Literacy Educator Suzanne Norman’s three decades as a consultant and leader in the investment management industry has taught her that true financial wellness is a combination of mental, physical, and fiscal health. She asserts that knowledge is power that can help one find his or her purpose.
“I help women embrace their inherent power through my education and coaching programs, so they can experience positive change in themselves, their families, in their communities, and at work,” emphasized Norman, certified coach, speaker, and writer.
Norman applied the Beacon Hill Women’s Forum (BHWF) mission statement, “Connect, Inspire, Enjoy,” to compose her April 8 presentation at the Hampshire House, describing her financial literacy journey.
“By showing up to connect, you have added years to your life,” began Norman, whose degree in psychology has benefitted her in teaching others financial advisory training.
In recognition of Financial Literacy Month, Norman explained the actions that can bring happiness into people’s lives, which include making connections, finding one’s purpose and values, remembering the wisdom learned through various phases of one’s life, and self-care. Sharing those elements with the world will draw like-minded people together.
“Core values tend to let us know if we are in or out of alignment,” Norman noted. “My big ones are honesty, knowledge, curiosity, compassion, generosity, and creativity. When I am in alignment, one or more of those things are showing up. When I am not in alignment, one of more of those things is getting stepped on.”
Norman feels that increasing one’s lifespan requires detailed focus in preparation for one’s future, and encourages more women to learn the basics of investing.
“There is research that shows women are better investors than men,” revealed Norman. “We are goal-oriented, we’re not excessive traders, we’re diversified — all the hallmarks of a sound investor.”
Norman believes that financial risk awareness and understanding behavioral finance can prevent mistakes. She advises others to be prepared to manage one’s own financial life because one does not want to start managing finances during a crisis, such as the loss of a spouse.
“About half of women over 65 are single, and that’s defined as never married, divorced, widowed – you’re independent financially,” said Norman.
She wishes that more women knew how to interview a financial professional. Norman feels that a wise way to start would be seeking someone who was referred by a trusted source. An advisor should fit one’s personality and ask questions to ensure a suitable match.
According to Norman, composing a formal financial plan is critical. Writing down intentions make them more likely to achieve.
Norman also maintains that people should be talking as much, if not more than his or her financial advisor because it is important to know as much as possible about a client. Having equal time seen as heard can prevent change when one is not equipped for it.
“There are many emotions that go with the death of a spouse,” acknowledged Norman. “Hopefully you don’t need to change your advisor.”
Norman’s The Wealthy Woman series links the concepts of wealth and health. The 12 presentations and workshops merge Norman’s industry knowledge with her coaching and focus on women’s empowerment.
“I don’t give you empowerment, you have it,” emphasized Norman. “I am passionate about this.”
Norman grew up in Hingham, but had been away for 25 years, committed to a position that required traveling. She has lived in 14 cities and visited 48 countries. In 2010, Norman had the opportunity to transfer back to the Boston area to be closer to family. Her peripatetic life led her to her present residence in Beacon Hill, which she describes as a joyful place to live.
Since Norman’s 2021 “rewirement,” a term she adopted to describe her post-corporate journey, her life has flourished with engaging opportunities. Norman is involved in some 15 non-profit organizations. She serves in roles such as an Education Fellow and Director of External Relations for Lifetime Income, and as an Advisor for the Grossman School of Business’s Women in Leadership Program at the University of Vermont.
“We have to be educating ourselves,” reminded Norman, 59-years-old. “It can be fun.”
Norman attributes her grandmother — a high school English teacher with a master’s degree – as her greatest inspiration; and her mother for offering her favorite financial advice: when shopping, start at the back of the store (that is where the sales are).