Comments on: Suze Orman – Not Equipped to Educate Us?

By: Mac Cosmetics

Mac Cosmetics — Wed, 31 Aug 2011 02:02:17 +0000

I want to thank you for this informative read, I actually appreciate sharing this good post.

By: Jonson

Jonson — Sun, 13 Feb 2011 04:05:16 +0000

SHe is a fraud, and tricks the american sheeple.

here is a simple equation and you dont need that suzie ormin show or her sappy/common sense books:

dont go to college if you need massive loans, pay off your debt, live w/i your means, no cc debt, pay off monthly IN full, and invest in no load low fee mutual funds, only buy used cars.

there you go.

By: MyLifeROI

MyLifeROI — Wed, 24 Jun 2009 05:15:01 +0000

@Jennifer,

That makes two of us that were shocked…

One thing that makes teachers reliable is tenure. So I can understand why the companies were glad to hear that a teacher was applying for a mortgage!

You’re right about Suze encourage debt financing to some callers. She is a mess, IMO. And add to that this link: http://blog.mises.org/archives/010179.asp

She apparently has no understanding of economics, either!

Thanks for stopping by and commenting!

MLR

By: Jennifer

Jennifer — Tue, 23 Jun 2009 17:15:23 +0000

My husband is a teacher and that is our only real income. I am shocked at what she said about teachers. When we bought our house and put down 25% and when we refinanced at a lower rate, both companies were very pleased to hear that dh was a teacher. As they put it, teachers make sure they can afford the mortgage, teachers are more reliable to pay their bills and pay them on time, and both companies said that anyone who was a teacher had a much greater chance of getting a good loan. My husband has a lot more self worth paying cash for everything, performing well at a job he loves, and shaping children to become good adults than someone who has to borrow money to live from month to month.

How can you feel good about yourself if you don’t make enough money to pay your bills? Many people don’t and take on a lot of debt (Which Suzi has frequently encouraged doing) in order to live what they consider a decent lifestyle. I can tell you that we sleep a lot better at night knowing that we have money in the bank and owe nothing to anyone except our mortgage. Not many people can say that. Teachers are some of the most responsible people when it comes to money. You mentioned the poor decision about the apartment she bought. Maybe she needs to take a lesson from teachers.

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By: Roger

Roger — Sat, 13 Jun 2009 07:58:16 +0000

When it comes to Suze Orman, I’m of two minds. On one hand, I like Suze’s advice; even when I don’t agree, there’s usually some element of truth to what she says. Most of the time when she is accused of something, a little closer reading shows she was misinterpreted (as I believe is the case with Jeff Rose’s comments). On the other hand, she has a tendency to shoot from the hip, and as this article illustrates, she can be surprisingly dim when doing so; the teacher comments were simply stupid.

The hypocrisy and being out of touch comments, though, I think are a bit off base; yes, she may not have the same financial situation as her average viewer, but if we only take advice from financial planners whose situations closely resemble our own, we’re going to cut out a lot of good advice. Her success should not disqualify her from advising those who don’t have the same resources, even if their method of getting free is different (and tougher) than hers. And without knowing more about her living situation, I can’t say whether the more expensive apartment was worth the premium.
Roger´s last blog ..Should You Still Invest in Stocks?

By: Roger

Roger — Sat, 13 Jun 2009 07:19:42 +0000

@MyLifeROI, With respect to Jeff’s original point, I also watched the last episode of the Suze Orman Show (it’s one of the few half entertaining things on late on a Saturday night). What she was saying was that for a specific savings goal in the future (such as a house downpayment or child’s education) any money you will need within ten years should not be in the stock market, and that, if you had that money in the market prior to the ten year mark, you should start to dollar cost average out so all your money is in bonds and cash when you have five years to go. (I missed any comments about being completely out of the stock market by age 60 or being able to predict the 2008 crash; if she did say anything along those lines, it would contradict many of the good points she’s made elsewhere.)

I will grant that she did not explicitly make a distinction between long-duration goals, like retirement, and the shorter lasting goals like those mentioned above. For the latter, going all bonds five years ahead of time makes sense, as you won’t have to worry about inflation taking a huge chunk of your gains or (hopefully) running out of money too soon. For things like retirement, though, I have a hard time believing she would suggest getting completely out of stocks to the average investor. (Again, though, this was nearly a week ago, and I don’t have a transcript or anything in front of me.)
Roger´s last blog ..Should You Still Invest in Stocks?

By: MyLifeROI

MyLifeROI — Thu, 11 Jun 2009 03:15:02 +0000

@Jeff Rose,

That’s hilarious. The fact that a CFP watches it to keep up with her crazy ideas shows who her target audience is. I hadn’t heard of that advice, but that does sound like pretty stupid advice that relies on hindsight. But that is getting more common and common.

This seems to be the standard response: The basic advice is good, there are issues after that. I guess that is the problem with any cookie-cutter advice, though.