Posted on 03/13/2007 6:25:23 AM PDT by JohnSheppard
The multimillionaire financial-advice star's investment plan may work for her -- but it wouldn’t make sense for most of her devotees.
Even with the stock market doing somersaults, it was no surprise which story more people wanted to discuss in the past two weeks than any other. From the moment word of a New York Times Sunday magazine interview with Suze Orman became public information, people wanted to know what I thought.
Their reason for asking was twofold: First, it's no secret that I'm not a big Orman fan. Second, they simply were stunned that, in the New York Times interview, Orman came out, discussing her relationship with her female partner, calling herself "a 55-year-old virgin" and more.
Dozens of newspapers carried the story, financial planners were buzzing about it, and yet they all missed the real shocking part, namely that the most compelling thing Orman came out about wasn't her sexuality but her investment portfolio.
(Excerpt) Read more at articles.moneycentral.msn.com ...
She needs to quit worrying about investing and spend the money
Most of her advise is rather basic financial planning that anyone with a grain of sense would already know.
Canyon-yodeling for fun and profit...?
She lost all credibility as a "financial advisor" when she pitched for GM.
I don't care how good the terms are, but telling people they should borrow money to buy an asset that depreciates like a rock (like all new cars do) is a good solid financial move (I Don't care how good the financing terms are) loses you all credibility in my book.
She lost all credibility as a "financial advisor" when she pitched for GM.
I don't care how good the terms are, but telling people they should borrow money to buy an asset that depreciates like a rock (like all new cars do) is a good solid financial move (I Don't care how good the financing terms are) loses you all credibility in my book.
"Long ago, I watched her on occassion until I heard her say how devasted she was that Algore whom she supported heavily, didn't win the presidential election. I wondered how a financial advisor could support such a tax obsessed goofball. I've never watched or listened to her since."
My wife for some reason watched the Suze on tv, and my wife hates debt. Then, about 4 years ago Suze was pushing the get out debt mantra, and she was advising people near retirement or in retirement to take money out of their IRAS, 401KS or Keough's to pay off their mortgages or instead of refiing to keep up the house.
I made an appt with our Acct, who was woman, a member of our church, a friend and a fellow conservative. She told us to refi to pay for what was needed re repair not to take out of our IRAs for the repairs and to never pay off our mortgage. Because we would lose our one tax write off besides our church donations and lose all of thefuture earning power of what we with drew from our IRAs.
Then, she told my wife that Suze was a very liberal lesbian, who had donated lots of money to the Goron in 2000. The donations to Gore was all my wife needed to hear. In 2000, we stopped buying Brinkman's news letter when he exposed himself as a tax and spend liberal supporting the Goron and the Clintoons. We have a firm family rule to never listen to financial advise from elite tax and spend liberals,
I think the best advice is keep 2-6 accounts at 30% or less of the credit limit. If you pay off an account, keep it open and use it once a year of whatever the comapny requires to keep a credit history.
It's my understanding if you don't have a couple of accounts, it can lower your credit score. Anything a person can do to keep their FICO high will give them financial options throughout their lives and enable them to save when they have to borrow.
"'She scores very high on the personality index, but very low on the knowledge and understanding of the complex issues that face a lot of her audience. She's giving generic, simple solutions to people's most difficult problems, and judging from her portfolio, she's taking them on a path she really hasn't traveled herself.'"
'Nuff said.
I was most surprised that she worried about not being able to leave her money without paying huge death taxes. I thought if you put it in a trust, you would not have to deal with those kind of things. If I am wrong, could someone let me know.
Here's hoping many FReepers will take every word of your experience to heart for their own protection against these wolves in sheeps clothing!!!
Did you mean Bob Brinker, rather than "Brinkman?"
Your trophy wife's experience is equally valuable to ANY FReeper's lurking observation of your combined experience and truly professional tax and financial advice!
Your experience... PRICELESS!!!
(Dow volitile again today! Hang on tight!! Don't git emotional!!!)
(Even GOLD indexes are droping bigtime!!!)
Right now, Gold, Oil, Interest and equities are all down rather sharply. It's probably only momentarily, however, simply the market climbing it's "wall of worry." It seems they all have to drop back so they can take another run at new highs...
There are truly two kinds of debt service... generally good and generally bad! I believe it's prudent to use other people's money if the price is right and it's tax deductible as a bonus, don't you? It's simply part of doing business in America, I think.
Yes, I meant Brinker instead of Brinkman, the liberal.
"I believe it's prudent to use other people's money if the price is right and it's tax deductible as a bonus, don't you? It's simply part of doing business in America, I think."
First, there are people who can't stand being in debt and the advise, we got from our CPA would drive those people up the wall. I have two BILS in that category.
Next there are people who look for any excuse to borrow more money and love being in debt. Hopefully, there are not too many of these in the conservative ranks.
Last there is a large majority of people like my wife and I. Most of our savings are in our IRAs/401ks. Taking money out of these plans costs us big taxes for the year, the money is taken out as our income would increase substantially that year.
Next assume we took $100 K out of my IRA to pay off our mortgage. Besides the higher tax rate, we would never be able to generate income from that $100,000 under the protection of the deferred taxation of an IRA, that would now be gone from the IRA. We both have 20 plus years of expected life, and we don't want to lose that $100k from our IRA pool for future investments and income.
If that $100 K had been laying around in a non tax deferred saving account, we probably would have pulled it out and paid off our mortgage and need repairs/updates on our home.
We didn't and went the refi way and have no problems sleeping at night.
By selling her over priced "get rich" books to women who couldn't afford to buy milk on a good day....
Yes, I know some people who climb the walls over even "good debt!" Some other people climb the walls over other things that make them uneasy, too! Sometimes when there's absolutely no reason to be concerned... It's just the way their minds are hard-wired!!! (nothing wrong with that!)
I find the people in, or who have been in business are much more used to using other people's money, especially in the Real Estate business!!! Leverage is everything to most of them!!!
"How did she amass $25 Million?"
Easy. Get publicly-financed PBS to put you on their TV shows to sell your books and services and watch how fast you pull in the cash too.
Sesame Street has been pulling this scam for decades. Rick Steves is another one. Laughing all the ready through Europe while your tax dollars finance his travel enterprise.
I know people who think like that.
That's because a generation of them grew up watching hucksters like Suze selling their Leverage books and seminars on TV...
To say nothing of the corporate leveraged buy-outs in recent times!!!
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