Regarding VA's, Ramsey and Orman have egg on their face after these past few years. Variable annuities (with a good company) are one of the best financial tools in the marketplace.
By the way, when you enter an agreement with an insurance company (the people that sell annuities) the agreement is actually a contract! Yes, annuities do exist that GUARANTEE you will NEVER lose money due to the stock market. This is why this caller's death benefit was equal to the amount the client (her husband) put in. Not merely because he died. Inform yourself is ALWAYS the best policy, even if the individual giving you advice happens to be on TV and is a "so-called" expert.
Yes, Suze's advice sucks. My advice is better, which I'm happy to provide you as long as I get a nice fat commission check from the product I'm about to sell you. Just call me at 1-800-IMA SUKR...
Suze was telling people who were nervous about buying houses in 2004/2005 to "go ahead and buy!" because a home is a great investment. I specifically remember one caller being from OC and Suze said, "Orange County is a very in demand place to live--I doubt you'll ever see home values drop there." I wonder how many of those callers who went ahead and purchased homes at the peak of the largest real estate bubble in world history would today like to wring Suze's neck.
@papatoony Number one falicy is your home is an investment - it's crazy thinking - let me ask this, who is better of the person owning his $500k home outright or the person who has $100k of equity and a $400k mortgage? The media tells us the first person. But let me ask this - if the guy owning his house outright wishes to access the "investment" how do they do so? Either they have to sell it or go to the bank, pay closing fees and take out a mortgage - get it people!!!!
@papatoony Not only are you SPOT ON but guess what? Because this individual probably isn't licensed, there is no recourse for those people. They just listened to the wrong advise. Seek the advice of a licensed professional who has their business on the line and you stand a better chance of hearing what you need rather than what someone speculates.
@cafarker Really? You are so mistaken. Guarantees of income and inflation protection? High Water mark protection? No downside? Really? Oh - you may pay 2% for all of that!!!!! Well let's see, get 10% with risk or 8% and be protected for life? Hmmmmmm at age 60 I'll take the 8% and protected!!!!
Suze Orman gives terrible advice to people and is single handedly destroying lives one by one and corrupting people who listen to her. TERM LIFE insurance is pure insurance with NO cash value and only pays out if someone dies within the stated term of the policy!!! Yes this may be good for people who do not have much money and want to protect their family but for others PERMANANT LIFE OR WHOLE LIFE INSURANCE IS THE WAY TO GO!!
I like how she gets cut off before the true point gets made. Its like an watching SNL where they take snippets of things to prove a point that wasnt intended to be made
Obviously Suze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years.
Obviously Suze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years. Just call me.
Obviously Suze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years. Just call me at 561-929-1668
Obviously SUze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years. Just call me at 561-929-1668
What's the point of this video? If your interested in death benefit, buy term insurance in addition to the IRS accounts; don't mix the two. Keep it simple. The more complicating the product is, the more the company will typically charge.
Suzy doesn't say anything wrong; most financial advisers receive more premium from selling these products too.
@kmiroshkhin How'd that IRA do in 2008? With a VA you could have saved the "high water mark" and be taking your retirement off of that number vs the acct value - how much return would you be willing to give up for that? I hate it when idiots post on this page that have no clue what value products offer - they simply look at the fees. I'm betting people today who lost 40% of their IRA would have gladly paid the 1% fee for a feature like that!!! See it's also about perservation of wealth!!!
Want to see Primerica getting EXPOSED for the crooks they are??? YT Suze Orman Cash Value Life Insurance vs Term Insurance and click the first link. Read Laffer1988 vs jgilles85. You're gonna LOVE it. PROMISE!
I'd like to add something to the tagline. Suze Orman is a generalist. She learns less and less about more and more, and eventually she knows nothing about everything.
OMG; this is hilarious! "In that case, it made sense." So I guess Suze's advice is that if you're planning on dying shortly into retirement, the VA is a good idea; otherwise not. So plan your death accordingly.
Whole life insurance is good only for people that waited until their late 60's and 70's to get insurance and will not be approved on term anymore because of their poor health, great risk of death and age. There is sometimes a 2 year graded period but all money and D.B. are given to beneficiaries. The 'Guaranteed Whole Life's' do not even have health questions. More 'final expense' type of insurance.
If that real slick looking guy in the bank comes up to you telling you he can help you save money and taxes, run like hell. You're better off in a CD. If you decide to stay and listen, ask about HIS commissions, surrender charges, and that "guaranteed rate." Remember, they're there to help themselves and the bank. Also, stay away from whole life insurance. Again, another bad idea. I have clients who sell this crap, and who are victims of this crap. BAD BAD BAD
@rodbuzz Another Primerica idiot on the loose. Variable Annuities are the ONLY prouduct that performed in the last 10 years (not including permanent life based products). They are the ONLY product who continued to provide clients with INCREASING income during down markets. At least research before you speak
@insurancemike10: IllegalMike is now showing his stupidity on Annuities. He has already proven his stupidity on Life Insurance and especially on investments. Oh well at least he is being consistent on showing his stupidity.
Annuities are actually one of the worst ideas. Why would a financial advisor put an annuity within an IRA? An IRA is already a tax deferred retirement account. The annuity is tax deferred. So why put a tax deferred account within a tax deferred account? BIG COMMISSIONS FOR THE ADVISOR!! Period. So please, don't try to take away her credibility because she's on TV.
@rodbuzz Annuities have features on them that LOCK in income, that provide inflation adjustments to income - NO MATTER WHAT THE MARKET DOES, they also LOCK in income based on a GUARANTEED amount NO MATTER what he market does. I'm betting many are kicking themselve because they thought the .75 basis points they gave up on "return" was too expensive. As for commission - they are actually well in line with other financial products so stop trying to fool people
@1911beauty That call was true and many many clients have experienced that result so stop listening to this person, she gives out "generic" advise which is bad.
From a Professional Advisor - Suzi's one-size fits all financial recommendations are clearly not for everyone. Buy term and invest the difference strategy has failed with the recent market, and the principal protected guarantees and DB protection of variable annuities add strategic value to many people's portfolios. High Net Worth individuals buy these products due to their ability to limit equity volatility, and to minimize asset transfer taxes.
I wonder how all the people who thought the "cost" of riders that protect the upside gains was too expensive felt in Nov. of 2008? Funny but all my clients loved their locked in gain and gladly paid the .5% charge to protect themselves, HMMMMM
That is because all of your customers are brainwashed by you. Well brainwashed might be a little harsh. Uneducated and having a shitty agent is more like it.
Anyone who listens to her and takes her advice deserves to lose there money. Cost? Who cares I will pay 100% fees for a returned that is guaranteed.
by the way, almost all variable annuities have a standard death benefit if the owner chooses at the time of purchase so in the case according the "dumb ass" is makes sense.
Do you honestly believe that people on TV are smarter than the rest of us because of the simple fact that they are on TV? Can you call Suze or Dave Ramsey directly to talk about your financial situation? They are entertainers and they are not subject to the regulations financial professionals are. If they were, they'd be neck-deep in lawsuits right now.
If you base your money decisions on what they say, you cannot be upset when things don't turn out they way you had hoped.
all it takes is a down market and the once derided annuity looks like a hero again. Suze's final comment was a poor attempt to save face. I don't know of any deferred annuity (I'm assuming the lady that called in was young, as her husband died unexpectedly) and was probably still in the accumulation phase, and his wife got the greater of his invested amount or actual account value back, the STANDARD death benefit during that phase. I don't know of any that don't have it.
Fucking idiot. Annuites are designed to annuitize after a certain period and then the beneficiary will receive benefits from it. at death with the right annuity it goes to the beneficiary. Death does not need ot occur to reap the benefits of an annuity.
Initially it would appear that way but if you had seen the ENTIRE video you would recant. The poster of the video did a nice editing job on the video so that know one could hear what she was about to say. Propagation of disinformation.
suze is smart and i hate her but she's smart. I guess her problem is she is too opinionated. EVERYONE HAS DIFFERENT FINANCIAL NEEDS WE ALL DON'T HAVE SUZES NEEDS
If your account value is down cuz of market end up whatever number of years you locked in for you will still get your principal amount back. So you don't pay any fees if your account is down.
It's come out recently and more financial advisers are willing to say that Suze Orman gives bad advice and has ruined people's lives with her unsound judgment. She's a putz.
Or in Suze Orman's case, telling people not to do business with a financial advisor when she was a financial advisor (which catapulted her into her current situation). That contradictory stance shows she either was a hypocrite to her former clients and doing it for the money or she's a hypocrite now because the no-load mutual fund companies reportedly are paying her to refer on-air callers to them. By any measure, she is a sellout.
Everybody sue Suze. Her advice against variable annuities with guaranteed lifetime income benefits has destroyed millions of retirement dreams. The only retirees and near retirees that survived this market meltdown in some style were those that ignored/counter this IDIOT's advice.
You're wrong on several accounts. 1) Cash Value Life Insurance is not deemed as an investment and it is an unlawful act which constitutes Insurance Fraud if an Insurance Agent represents it as being so. That is the law in all 50 states. Go to your State Insurance Commissioner's website and you'll find a detailed explanation of what I just said by all 50 Commissioner's. 2) I'm a Registered Investment Advisor. None of my clients lost a penny last year or this year and there are many who haven't.
A variable annuity is an annuity contract backed by the claims paying ability of the insurance company. It is an investment that gives the owner and/or annuitant a sense of guarantees toward payments at retirement and a sense of guarantees in premium return for the beneficiary.
It seems that you are mixing up life insurance with annuities, which are separate things. I see that you claim to be an RIA, so either you don't deal with variable annuities or you know nothing about them.
I've been licensed to sell variable annuities for over 15 years. I'd say I know quite a bit about them. There was no need for your definition. I thought I was perfectly clear in what I wrote and don't see any need to re-write it.
Now give me the definition of Variable Whole Life Insurance and what instrument it uses for the Cash Value portion of the contract. Also, explain to us all if a Variable Whole Life Insurance policy is a single contract or two separate contracts. One being the Life Insurance and the other being the Cash Value portion.
We're not talking about insurance policies -- you're the only person who is going on about life insurance policies. A variable annuity IS NOT A LIFE INSURANCE POLICY.
No one else except YOU is mentioning the cash value in variable whole life policies. So either you think a variable annuity is the same thing as a variable whole life policy (which THEY AREN'T) you're introducing stuff in the argument to muddy the waters.
Variable annuities were created by INSURANCE companies to guarantee an income that you can't outlive. It is not an insurance policy, but due to the element of risk and guarantees to the client that mitigates their risk (the insurance company uses mortality and spread of risk to mitigage their exposure), there is an element of insurance to it.
Yeah, it's perfectly clear you're confusing variable life insurance with a variable annuity. If not, you wouldn't be talking about the cash value in a variable life insurance policy as if it is a variable annuity. So either you think a VA is a VUL or you're deliberately trying to confuse others.
I'm not confused in the least. I only sold the product for over 20 years, I would hope to hell I knew something about. Let's try it this way. What does a Variable Annuity invest in?
Forget the insurance side of my argument. Let's stick to just variable annuities. Here's what I'd like you to do and if you need help, I'll help by giving the website address. List how many variable annuities there is that have produced a positive return in the last 52 weeks and how many have been a negative return in the last 52 weeks. I'll provide the website if you'd like.
Apparently you either didn't have the balls to answer me or you couldn't answer the question because the company you represent didn't put out a "brochure" on a question like the one I've presented. The answer is, a little over a dozen have produced a positive return and the rest have all produced a negative return. Most of which were -30%. I can see why you didn't want to answer that question. When you want to learn how to make money, get in touch with me.
LOL, not even close on both accounts. I feel sorry for the dumb fucker if he ever found out you were slandering him though. An attorney for $100 bill could find out everything there is about you just based on your IP address and sue the fuck out of you. Soon as you find out who I am, I'll show you how its done but for now, you're not even relatively close. First, you'll have to look a little farther away than the U.S. because I don't live there :) bozo.
@mkjhartmann: Suze's advice has not destroyed millions of retirement dreams. People not following the whole advice is what has. Now if people had honest financial advisors they wouldn't need to worry about Suze's advice now would they?
@bond519 Most advisors are honest and most of what Suze says is nonsense. You can't give generic advice and expect that to work. Plus she doesn't even follow her own advise. Go to msn's site and search "stop listening to suze" It's very interesting.
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Orman: "Its only garunteed if you die"
What exactly did Suze Orman miss? she said exactly what the lady said... Is there a problem with NOT expecting everyone to "die unexpectedly 6 months later"?...
The uploader of this video is so biased he/she apparently didn't even watch the clip before posting it.
suze moron......what was her rep number? Oh yeah, she never had one. She is paid by corporate sponsors, and has never made money as a financial advisor. She just needs to go away
C'mon, we all know Suze's blanket "financial advice" to EVERYONE is to buy term life insurance and invest in the Vanguard Index 500 fund, no matter your net worth, income, etc.
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shows how much of an idiot you are, shes AGAINST life term insurance. and there are exceptions, what is she suppose to do, explain her entire book on air?
I'm pretty sure this is why Suze Orman never takes live, unscreened phone calls anymore. All questions asked to her are screened so she won't have to be made a fool of anymore.
fitipaldi037, Sorry but annuities have death benefits. The purpose of annuities include preferential tax treatment AND guarantees, include a death benefit guarantee. Otherwise we would all go for mutual funds. Read a contact.
Sorry. Annuities have basic death benefits, enhanced death benefits, 5% roll-up death benefits, etc. Life insurance isn't the only vehicle with a death benefit.
What a dumb cunt.... why does she bash life insurance and annuities ect does she want everyone to put money into the stock market? What is her advise then?
I don't know, seems like she had to eat a little crow in that one. Whole Life Insurance is a great investment if you don't have enough money to invest in other products & I understand she's anti- any product that isn't term. Her advice is often general & some of her followers are too stupid to research these products on their own w/o her biased opinions. I'm just sick of her method of debate. I'm an adult & I tend to shut people over the age of 14 off when they start to whine.
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I agree, how is that a bad call? She said "it's only guaranteed when you die", "when there is a death benefit that makes sense". Her main point was that vaiable annuities are sold as an investment, not as insurance. She did not correct herself. She stated the same before the caller as she commented to the caller. The truth still remains, the are a crappy "investment". The only benefit they are is to the beneficiary when the annuitant dies.
Variable annuities ARE an investment. In a simplistic term, it's like owning mutual funds that have certain guarantees for the beneficiary in terms of principal (and now, for the owner in terms of income), There is nothing crappy about the concept itself -- there may be crappy VAs, but every product has crappy examples. Once again, this video is a perfect example of why people should not listen to Orman's blanket advice.
If a VA is attached to a Life Insurance product, it is not deemed as an investment and representing it as if it were an investment constitutes Insurance Fraud.
A variable annuity is an annuity contract backed by the claims paying ability of the insurance company. It is an investment that gives the owner and/or annuitant a sense of guarantees toward payments at retirement and a sense of guarantees in premium return for the beneficiary.
It seems that you are mixing up life insurance with annuities, which are separate things. I see that you claim to be an RIA, so either you don't deal with variable annuities or you know nothing about them.
I don't understand her comment "when there is a death benefit, then in that case they make sense". Who sells an annuity WITHOUT a death benefit and why would someone buy it? One of the main reasons for buying a VA is FOR the death benefit. Even Ed Slott, one of the top CPAs in the country, recommends VAs for the death benefit - which given what is happening now in the market makes even more sense.
Those near retirement, or in retirement w/ 401(k) who avoided VA w/ protected withdrawal guarantees because Suze didn't like them are screwed now. 401(k) may have lost more than half of it's value, whereas a VA like Pru's VA w/ HD-7 rider would still guarantee the principal after 10 years, as well as at least DOUBLE the withdrawal value in 10 years (no annuitization req'd), regardless of investment performance. Suze, by giving out such general advice is doing more harm than good. Sorry.
DONT READ THIS Cause It Really Works. YOU WILL GET KISSED ON THE NEAREST POSSIBLE FRIDAY BY THE LOVE OF YOUR LIFE. TOMORROW WILL BE THE BEST DAY OF YOUR LIFE. HOWEVER IF YOU DONT POST THIS COMMENT TO AT LEAST 3 VIDEOS YOU WILL DIE WITHIN 2 DAYS. NOW UV STARTED READIN DIS DUNT STOP THIS IS SO SCARY. SEND THIS OVER TO 5 VIDEOS IN 143 MINUTES WHEN UR DONE PRESS F6 AND UR CRUSHES NAME WILL APPEAR ON THE SCREEN IN BIG LETTERS. THIS IS SO SCARY!!!!
Well most are, I am not talking about a settlement from a sweepstakes. She is talking about a VA so, yes they are an insurance products. Thats why you have to have a life insurance license to sell them. Whole life is for older people who want tax free death benefit to their kids, price isn't the #1 concern, its a hell of a lot cheaper than term when they are older. All products serve a purpose or regulators would not allow them. My VUL is doing awesome, better than most MF's.
it's not your VUL that is doing well, it's the FUNDS that are in your VUL. If you'd have been investing in those same funds OUTSIDE of your VUL you'd see greater returns -- all of the fees associated with your insurance contract are dragging your returns down.
Suzy gets punked. She does her usual head shake and goes hum alot , then tries to backpeddle when she knows she's been caught. "There is a death benefit". There is ALWAYS a death benefit, that is one of the primary reasons people buy VA's. Get a flipping clue Suzy.
Wow! A car hits and kills a man. Are all cars bad? Of course not. When is ALL of anything bad? Never. In 2007, BILLIONS OF DOLLARS were invested in excellent annuities. So, all those people are stupid? Here's a really radical suggestion for you: READ A CONTRACT! My mother always taught me that knowledge is power. So, read a little.
Fantastic idea (your mom taught you right!) for people to actually read what they sign. What a novel idea. People like to talk about "fine print" & other things to make excuses not to read something. I read everything I sign and I rarely see what is true small print that I can't easily read.A lot of people do not want to know the details just want everything to go the way they "think" it should no matter what happens, or they get advice from a family member, neighbor etc that is not an expert
Many brokers who hate annuities do so because trading inside of a variable annuity has no charges. They rather call you to suggest a trade in your brokerage account - It generates commission. Duh. Inside a VA, half of the fees go to the FUND COMPANY! Did you hear that? The insurance company only gets it's fees and the client can pick the protection features and fees he wants.
PLEASE DO NOT ANSWER THAT YOU HATE ANNUITIES UNTIL AFTER YOU READ A CONTRACT! DUH!
Many brokers use the m funds that pay high comms. With a VA, there are no front-end charges. The $ goes into the best sub-accts (funds). Those sub-accts are the cream of the crop. If a fund manager is not performing up to par, the VA company can yank that fund out and replace it with a better one - AT NO ADDL CHARGE TO THE ANNY HOLDER! Those VA sub-acct funds are often insttnl funds that you would need millions to qualify if not using a VA. Holy cow!
VAs have a purpose that doesn't fit everyone, of course! But, if you worry about the market and want protection, it can be a really good solution. And, the death benefit usually avoids probate!
I promise not to talk about how stupid you are, until I meet you and can verify it, if you promise not to slam VAs until you've actually read a contract! Duh!
The problem is not the variable annuity its the expensive annual renewable term the is attached. The price for the insurance goes up each year and the premium stays the same. Ultimately the investment amount each month or quarter goes down. Plus you don't need life insurance your whole life if your investment is enough to cover your spouse and any minors in general.
Yes I do have the right product. I have a 35 year level term and aggressive mutual funds. I dont have a variable annuity because I'm not old enough. That doesn't meen there bad. Only the ones attatched to life insurance are bad.
I believe in Sue, true she is human, but I mean we all make mistakes, that doesnt mean oh I DEPEND ON HER, WAY NO!!! I listen to her advice read her books but decide what to take and then inform my self based on her AND ME and the OFICIAL SOURCE, it is better to base your information on her, on the companies, on yourself, ON EVERYTHING!!!
That is the problem people only get informed on one source, not at all, and that is what they should do be informed and sure about themselves.
You're welcome I always say keep yourself informed on what she has to sya but also others, sources and your own.
That way you can make better financial decission, I value her opinions but some details I base them on smobody else or the original bearous and then decide which have truths or if both have.
Anyway you are welcome
and thank you for posting this, so people can see many sources and be more informed.
where do u get these videos? I would like to know.
Suze's understanding of insurance products and how they differ from pure investments borders on idiocy. She also regularly ignores the secondary guarantees that are now present in almost all variable annuities. As someone else stated, Suze is well behind the times in regards to these products.
FYI, Suze does not go on to explain herself, she takes another caller (I have seen the transcript, but not a video).
Yes, it does cost more in fees then the straight cost of the mutual funds, but annuities aren't designed for people who are trying to maximize all earnings off the market. They are generally designed for those who still want to grow their money in the market but still want guarantees that they won't lose more than they put in. I'm sorry, but Suze's concept of a VA is more reflective of how they were 10 years ago, not today's more competative products.
I think Suze needs to re-evaulate her blanket hate speeches on variable annuities. The situation that happened with this "caller in" is not unique. It happens every day, and protects people assests who would have otherwise played the market and lost.
The important issue here is that the customer should be given all the choices that fit their situation and the customer should be the one to decide. Some people love variable annuities. Some hate them. It should be the customer's choice, not strictly based on what the advisor likes.
I don't have more of the recording. They likely moved to next topic. It's not a tax. It's a Mortality & Expense charge on the growth of the funds. VAs have subaccounts such as the Contrafund Fund that you can choose and move your money between w/o more expenses. If you earn 8% in a year, the co earned 9.3% and used the 1.3% for the ins/death benefit. Read contract & prospectus. There are good and bad ones. Like anything you pay for such as good and bad cars, phones, doctors, etc.
I think we should see the rest of what Suze had to say in response to this, Im sure she explained her point in full , but we can't hear that. Just judging from what we did get to hear from Suzie , she said Variable annuities only work when you die to get it and then you have to pay a mortality tax to get it, the lady who called in got paid from her husband's death from a variable annuuity. How did that not work with what we heard Suzie say?
Have you ever read a contract? Most people don't have a fire in their home but they have home insurance don't they? Let the client decide what is important. They don't all have high fees. There are billions of $ deposited into annuities every year. Are all those people wrong? The ins industry in North America holds, controls, and manages more money than the entire world banking industry. Does it make sense to you that "all" annuities are bad? When is all of anything bad? Read a contract.
Suze Orman makes a good point here. Variable annuities are horrible investments. The reason that the caller's account was down so much is because of bad investments and a super high annuity fee. She got lucky to be in an annuity in this case, but if you don't die until you're 80 or 90, which is the case for most people, you get screwed on fees. Good call by Suze. Even though I hate her.
Super High annuity fee's? Oh Mr InvestmentAdvisor, how much to you charge for your AUM? 1%, maybe more? Just wondering. And how do you know that they were bad investments that the ladies husband was in. This product served this family perfectly yet everyone wants to pile on with how bad they are even with evidence proving otherwise. Ed SLott, the nations top 401K and taxes expert recommends putting some of your ira (not all) into VA's just for this reason.
Defensive are we? Yeah, it seems a bit. No I do not charge any AUM fees, but rather an hourly fee-based business where most clients pay less than 30 basis points on average per year. Met with an annuity client today whose $50,000 in 1994 has grown to $130,000 in an American Fund stock fund. He was ecstatic. Had to inform him, however, that this was barely a 7% average... thanks to M&E. Ed Slott actually refers to low cost Vanguard annuities, read the fine print.
I could care less which company he recommends annuities from - that was not the argument. The argument, especially from Suzy O, is that they are ALL bad and they are not.
Ooh! Don't bother to respond? That's because you can't deal with the truth. Most folks who live and die by these things are a little insecure. I'd have said don't respond if I were you too, and tried to avoid the debate. You are smart in some ways I guess.
Regarding VA's, Ramsey and Orman have egg on their face after these past few years. Variable annuities (with a good company) are one of the best financial tools in the marketplace.
PedroMan83 2 weeks ago
wow a hater gettin punked
BiGChinGSvideos 4 months ago
Glad I don't get my financial advice on a 60 second phone call from a television personality!
mgillum28 5 months ago 2
By the way, when you enter an agreement with an insurance company (the people that sell annuities) the agreement is actually a contract! Yes, annuities do exist that GUARANTEE you will NEVER lose money due to the stock market. This is why this caller's death benefit was equal to the amount the client (her husband) put in. Not merely because he died. Inform yourself is ALWAYS the best policy, even if the individual giving you advice happens to be on TV and is a "so-called" expert.
prcaballo 7 months ago 6
Why do CV state that they can lapse even though premiums are being paid?
gytr04 8 months ago
Yes, Suze's advice sucks. My advice is better, which I'm happy to provide you as long as I get a nice fat commission check from the product I'm about to sell you. Just call me at 1-800-IMA SUKR...
dox78 10 months ago
@dox78 So I guess you've never bought a home, car, or clothes?
PedroMan83 2 weeks ago
Suze was telling people who were nervous about buying houses in 2004/2005 to "go ahead and buy!" because a home is a great investment. I specifically remember one caller being from OC and Suze said, "Orange County is a very in demand place to live--I doubt you'll ever see home values drop there." I wonder how many of those callers who went ahead and purchased homes at the peak of the largest real estate bubble in world history would today like to wring Suze's neck.
papatoony 11 months ago
@papatoony Number one falicy is your home is an investment - it's crazy thinking - let me ask this, who is better of the person owning his $500k home outright or the person who has $100k of equity and a $400k mortgage? The media tells us the first person. But let me ask this - if the guy owning his house outright wishes to access the "investment" how do they do so? Either they have to sell it or go to the bank, pay closing fees and take out a mortgage - get it people!!!!
Jgillie85 10 months ago
@papatoony Not only are you SPOT ON but guess what? Because this individual probably isn't licensed, there is no recourse for those people. They just listened to the wrong advise. Seek the advice of a licensed professional who has their business on the line and you stand a better chance of hearing what you need rather than what someone speculates.
prcaballo 7 months ago 4
It made sense to the caller in hind sight because some passed away at the "right time".
There's so many other way to invest that don't depend on someone kicking the bucket. Annuities still suck
cafarker 1 year ago
@cafarker Really? You are so mistaken. Guarantees of income and inflation protection? High Water mark protection? No downside? Really? Oh - you may pay 2% for all of that!!!!! Well let's see, get 10% with risk or 8% and be protected for life? Hmmmmmm at age 60 I'll take the 8% and protected!!!!
Jgillie85 11 months ago 2
That call sounds bogus. I think somebody should see if that caller really experienced what she said she did.
kg6mem 1 year ago
Suze Orman gives terrible advice to people and is single handedly destroying lives one by one and corrupting people who listen to her. TERM LIFE insurance is pure insurance with NO cash value and only pays out if someone dies within the stated term of the policy!!! Yes this may be good for people who do not have much money and want to protect their family but for others PERMANANT LIFE OR WHOLE LIFE INSURANCE IS THE WAY TO GO!!
bcole118824 1 year ago
Great change of advice Suze, ha ha ha.....
jacklane61 1 year ago
I like how she gets cut off before the true point gets made. Its like an watching SNL where they take snippets of things to prove a point that wasnt intended to be made
tachon04 1 year ago
@tachon04 The "true" point was already made. She gives blanket generalized advice which doesn't apply to some people's situations.
paolung 1 year ago
This has been flagged as spam show
Obviously Suze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years.
anthonycottone 1 year ago
This has been flagged as spam show
Obviously Suze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years. Just call me.
anthonycottone 1 year ago
This has been flagged as spam show
Obviously Suze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years. Just call me at 561-929-1668
anthonycottone 1 year ago
Obviously SUze has no clue about how Variable Annuities work. New Living and Death Benefits have substantial value and reduce investment risk in an extremely volatile market. If you would like information about Annuities I have studied them and other investments for over ten years. Just call me at 561-929-1668
anthonycottone 1 year ago
What's the point of this video? If your interested in death benefit, buy term insurance in addition to the IRS accounts; don't mix the two. Keep it simple. The more complicating the product is, the more the company will typically charge.
Suzy doesn't say anything wrong; most financial advisers receive more premium from selling these products too.
kmiroshkhin 1 year ago
@kmiroshkhin How'd that IRA do in 2008? With a VA you could have saved the "high water mark" and be taking your retirement off of that number vs the acct value - how much return would you be willing to give up for that? I hate it when idiots post on this page that have no clue what value products offer - they simply look at the fees. I'm betting people today who lost 40% of their IRA would have gladly paid the 1% fee for a feature like that!!! See it's also about perservation of wealth!!!
SuperLifeguy 1 year ago
Want to see Primerica getting EXPOSED for the crooks they are??? YT Suze Orman Cash Value Life Insurance vs Term Insurance and click the first link. Read Laffer1988 vs jgilles85. You're gonna LOVE it. PROMISE!
laffer1988 1 year ago
I'd like to add something to the tagline. Suze Orman is a generalist. She learns less and less about more and more, and eventually she knows nothing about everything.
laffer1988 1 year ago
How do you know when Suze is giving bad advice?
Her lips are moving!
rcdrury1 1 year ago
she's dumb as a doorknob when it comes to investments.
skbroker 1 year ago 3
@skbroker She's as dumb as a doorknob when it comes to anything; especially life insurance.
rcdrury1 1 year ago
OMG; this is hilarious! "In that case, it made sense." So I guess Suze's advice is that if you're planning on dying shortly into retirement, the VA is a good idea; otherwise not. So plan your death accordingly.
She is an IDIOT!
rcdrury1 1 year ago 7
Comment removed
rcdrury1 1 year ago
Whole life insurance is good only for people that waited until their late 60's and 70's to get insurance and will not be approved on term anymore because of their poor health, great risk of death and age. There is sometimes a 2 year graded period but all money and D.B. are given to beneficiaries. The 'Guaranteed Whole Life's' do not even have health questions. More 'final expense' type of insurance.
shantihala 1 year ago
If that real slick looking guy in the bank comes up to you telling you he can help you save money and taxes, run like hell. You're better off in a CD. If you decide to stay and listen, ask about HIS commissions, surrender charges, and that "guaranteed rate." Remember, they're there to help themselves and the bank. Also, stay away from whole life insurance. Again, another bad idea. I have clients who sell this crap, and who are victims of this crap. BAD BAD BAD
rodbuzz 1 year ago
@rodbuzz Another Primerica idiot on the loose. Variable Annuities are the ONLY prouduct that performed in the last 10 years (not including permanent life based products). They are the ONLY product who continued to provide clients with INCREASING income during down markets. At least research before you speak
insurancemike10 1 year ago
@insurancemike10: IllegalMike is now showing his stupidity on Annuities. He has already proven his stupidity on Life Insurance and especially on investments. Oh well at least he is being consistent on showing his stupidity.
bond519 1 year ago
Annuities are actually one of the worst ideas. Why would a financial advisor put an annuity within an IRA? An IRA is already a tax deferred retirement account. The annuity is tax deferred. So why put a tax deferred account within a tax deferred account? BIG COMMISSIONS FOR THE ADVISOR!! Period. So please, don't try to take away her credibility because she's on TV.
rodbuzz 1 year ago
@rodbuzz Annuities have features on them that LOCK in income, that provide inflation adjustments to income - NO MATTER WHAT THE MARKET DOES, they also LOCK in income based on a GUARANTEED amount NO MATTER what he market does. I'm betting many are kicking themselve because they thought the .75 basis points they gave up on "return" was too expensive. As for commission - they are actually well in line with other financial products so stop trying to fool people
insurancemike10 1 year ago
Nice job cutting her off at the end, when she was getting ready to explain her point. You stupid.
allenprichardson 1 year ago
@allenprichardson That's all I'm sayinG, right! What was so scary about what she was about to say that it had to be cut off? it makes you wonder
dnltnn 1 year ago
@allenprichardson You can find the edition where she's not cut off, she changes the subject and goes to the next call. She had no other response.
insurancemike10 1 year ago
anything to good to be true usually is. I love suzie
1911beauty 1 year ago
@1911beauty That call was true and many many clients have experienced that result so stop listening to this person, she gives out "generic" advise which is bad.
insurancemike10 1 year ago
This is classic Suzi - She's a moron
insurancemike10 1 year ago
From a Professional Advisor - Suzi's one-size fits all financial recommendations are clearly not for everyone. Buy term and invest the difference strategy has failed with the recent market, and the principal protected guarantees and DB protection of variable annuities add strategic value to many people's portfolios. High Net Worth individuals buy these products due to their ability to limit equity volatility, and to minimize asset transfer taxes.
KendeSilva 1 year ago
I wonder how all the people who thought the "cost" of riders that protect the upside gains was too expensive felt in Nov. of 2008? Funny but all my clients loved their locked in gain and gladly paid the .5% charge to protect themselves, HMMMMM
Sternfil 1 year ago
That is because all of your customers are brainwashed by you. Well brainwashed might be a little harsh. Uneducated and having a shitty agent is more like it.
bond519 1 year ago
@bond519 You here too, haven't you learned anything? See this video to understand the damage you do.
insurancemike10 1 year ago
While not a complete moron, she is pretty close, the way she gives out advice.
Her advice is geared for the masses, not people of slightly higher wealth or more complex financial plans.
Variable annuities as well as permanent life products can be extrememly valuable , flexible and tax defensive when incorporated in a total plan.
For estate issues, insurance is the biggest hole in the tax code that can be used to someones advantage.
Nice hair though..........
zgusto 1 year ago
she's pretty stupid for someone who specializes in finance. what a retard
skbroker 2 years ago 2
I dont think you can fall blindly on anyone's advice today. All of these are suggestions, and you should just use them as that.
balajiraja 2 years ago 3
Anyone who listens to her and takes her advice deserves to lose there money. Cost? Who cares I will pay 100% fees for a returned that is guaranteed.
by the way, almost all variable annuities have a standard death benefit if the owner chooses at the time of purchase so in the case according the "dumb ass" is makes sense.
She is about as good as Jim Cramer.
jschenck11 2 years ago 3
metalhead33,
Do you honestly believe that people on TV are smarter than the rest of us because of the simple fact that they are on TV? Can you call Suze or Dave Ramsey directly to talk about your financial situation? They are entertainers and they are not subject to the regulations financial professionals are. If they were, they'd be neck-deep in lawsuits right now.
If you base your money decisions on what they say, you cannot be upset when things don't turn out they way you had hoped.
bryanbuff 2 years ago 11
a fixed annuity would have been better....thats all she had to say.
dly311 2 years ago
@dly311
how do you know if fixed annuity would be better?
skbroker 2 years ago
all it takes is a down market and the once derided annuity looks like a hero again. Suze's final comment was a poor attempt to save face. I don't know of any deferred annuity (I'm assuming the lady that called in was young, as her husband died unexpectedly) and was probably still in the accumulation phase, and his wife got the greater of his invested amount or actual account value back, the STANDARD death benefit during that phase. I don't know of any that don't have it.
dbwelsh63 2 years ago 3
Fucking idiot. Annuites are designed to annuitize after a certain period and then the beneficiary will receive benefits from it. at death with the right annuity it goes to the beneficiary. Death does not need ot occur to reap the benefits of an annuity.
MrNomadic24 2 years ago
She's such a fucking moron
sobelizard1104 2 years ago
Most of Ben Bernanke's invested assets are in fixed and variable annuities. Suze Orman is little more than an entertainer.
NorgePrecision 2 years ago
Stupid Bitch!! She knows about finance that same I know about Termothology. She is a advisor fr stupid deeply in debth people.
aterces2 2 years ago
hey aterces2 if youre so much smarter than suze orman why dont they let u go up there and give out advice?
haha big words coming from a guy that all he does is sit at home on youtube and writes hate comments.
metalhead33 2 years ago
You are an individual just like everyone else. Generic advice is like public transportation, it only takes you so far.
12blueknight 2 years ago
I think Orman just disagreed with herself!
maxima3503 2 years ago
Initially it would appear that way but if you had seen the ENTIRE video you would recant. The poster of the video did a nice editing job on the video so that know one could hear what she was about to say. Propagation of disinformation.
IncorruptibleTruth 2 years ago
this woman acts extremely over confident and it makes people think she knows what she's talking about.
gumbifraazuber 2 years ago
suze is smart and i hate her but she's smart. I guess her problem is she is too opinionated. EVERYONE HAS DIFFERENT FINANCIAL NEEDS WE ALL DON'T HAVE SUZES NEEDS
nembhard600rr 2 years ago
If your account value is down cuz of market end up whatever number of years you locked in for you will still get your principal amount back. So you don't pay any fees if your account is down.
Novemberrain81 3 years ago
It's come out recently and more financial advisers are willing to say that Suze Orman gives bad advice and has ruined people's lives with her unsound judgment. She's a putz.
Caracarisma 3 years ago 4
Or in Suze Orman's case, telling people not to do business with a financial advisor when she was a financial advisor (which catapulted her into her current situation). That contradictory stance shows she either was a hypocrite to her former clients and doing it for the money or she's a hypocrite now because the no-load mutual fund companies reportedly are paying her to refer on-air callers to them. By any measure, she is a sellout.
CaptainMike1968 3 years ago 4
Everybody sue Suze. Her advice against variable annuities with guaranteed lifetime income benefits has destroyed millions of retirement dreams. The only retirees and near retirees that survived this market meltdown in some style were those that ignored/counter this IDIOT's advice.
mkjhartmann 3 years ago 12
You're wrong on several accounts. 1) Cash Value Life Insurance is not deemed as an investment and it is an unlawful act which constitutes Insurance Fraud if an Insurance Agent represents it as being so. That is the law in all 50 states. Go to your State Insurance Commissioner's website and you'll find a detailed explanation of what I just said by all 50 Commissioner's. 2) I'm a Registered Investment Advisor. None of my clients lost a penny last year or this year and there are many who haven't.
IncorruptibleTruth 2 years ago
A variable annuity is an annuity contract backed by the claims paying ability of the insurance company. It is an investment that gives the owner and/or annuitant a sense of guarantees toward payments at retirement and a sense of guarantees in premium return for the beneficiary.
It seems that you are mixing up life insurance with annuities, which are separate things. I see that you claim to be an RIA, so either you don't deal with variable annuities or you know nothing about them.
CaptainMike1968 2 years ago
I've been licensed to sell variable annuities for over 15 years. I'd say I know quite a bit about them. There was no need for your definition. I thought I was perfectly clear in what I wrote and don't see any need to re-write it.
IncorruptibleTruth 2 years ago
Now give me the definition of Variable Whole Life Insurance and what instrument it uses for the Cash Value portion of the contract. Also, explain to us all if a Variable Whole Life Insurance policy is a single contract or two separate contracts. One being the Life Insurance and the other being the Cash Value portion.
IncorruptibleTruth 2 years ago
We're not talking about insurance policies -- you're the only person who is going on about life insurance policies. A variable annuity IS NOT A LIFE INSURANCE POLICY.
No one else except YOU is mentioning the cash value in variable whole life policies. So either you think a variable annuity is the same thing as a variable whole life policy (which THEY AREN'T) you're introducing stuff in the argument to muddy the waters.
CaptainMike1968 2 years ago
"A variable annuity IS NOT A LIFE INSURANCE POLICY."
No shit, really? Newsflash Einstein: I never said it was.
IncorruptibleTruth 2 years ago
Variable annuities were created by INSURANCE companies to guarantee an income that you can't outlive. It is not an insurance policy, but due to the element of risk and guarantees to the client that mitigates their risk (the insurance company uses mortality and spread of risk to mitigage their exposure), there is an element of insurance to it.
dbwelsh63 2 years ago 2
Yeah, it's perfectly clear you're confusing variable life insurance with a variable annuity. If not, you wouldn't be talking about the cash value in a variable life insurance policy as if it is a variable annuity. So either you think a VA is a VUL or you're deliberately trying to confuse others.
CaptainMike1968 2 years ago
I'm not confused in the least. I only sold the product for over 20 years, I would hope to hell I knew something about. Let's try it this way. What does a Variable Annuity invest in?
IncorruptibleTruth 2 years ago
Forget the insurance side of my argument. Let's stick to just variable annuities. Here's what I'd like you to do and if you need help, I'll help by giving the website address. List how many variable annuities there is that have produced a positive return in the last 52 weeks and how many have been a negative return in the last 52 weeks. I'll provide the website if you'd like.
IncorruptibleTruth 2 years ago
Comment removed
IncorruptibleTruth 2 years ago
This has been flagged as spam show
Apparently you either didn't have the balls to answer me or you couldn't answer the question because the company you represent didn't put out a "brochure" on a question like the one I've presented. The answer is, a little over a dozen have produced a positive return and the rest have all produced a negative return. Most of which were -30%. I can see why you didn't want to answer that question. When you want to learn how to make money, get in touch with me.
IncorruptibleTruth 2 years ago
incorruptible truty: you really got no life, you comment on every single finance video every single day LMAO
plus you are a scum
metalhead33 2 years ago
LOL, you're right there with me on every finance video. Only difference is, I'm retired and you don't have a job. :)
IncorruptibleTruth 2 years ago
uhh no shit youre retired. u sound like u should retire from being retired hahah
and no shit i dont have a job. jobs suck
metalhead33 2 years ago
incorruptible truth is a closeted homosexual that likes it up the ass XD
metalhead33 2 years ago
Metalhead33 has the mind of a child.
IncorruptibleTruth 2 years ago
incorruptible truth, so when are you gonna finally come outta the closet?
metalhead33 2 years ago
As soon as I find the dress you asked me to get for you to wear.
IncorruptibleTruth 2 years ago
LMAO
your jokes are gay
like you
metalhead33 2 years ago
zzzzzzzzzzzzz
IncorruptibleTruth 2 years ago
shhh everyone!! grandpa is takin a nap XD
metalhead33 2 years ago
Mr Jim Ed Hodges, the ultimate homo
i knew he way gay the second he called himself "pretty" LMAO
metalhead33 2 years ago
Incorruptible Truth
Jim Ed Hodges is his real name, lives in IL. Look him up under raging buttfucker.
He plays the fiddle in his spare time.... look his band up, The Well Hungarians... fucking amusing shit. What a homo.
AmericaTheBlind 2 years ago
LOL, not even close on both accounts. I feel sorry for the dumb fucker if he ever found out you were slandering him though. An attorney for $100 bill could find out everything there is about you just based on your IP address and sue the fuck out of you. Soon as you find out who I am, I'll show you how its done but for now, you're not even relatively close. First, you'll have to look a little farther away than the U.S. because I don't live there :) bozo.
IncorruptibleTruth 2 years ago
@mkjhartmann You are so right, she's a curse to the common people.
Sternfil 1 year ago
@mkjhartmann: Suze's advice has not destroyed millions of retirement dreams. People not following the whole advice is what has. Now if people had honest financial advisors they wouldn't need to worry about Suze's advice now would they?
bond519 1 year ago
@bond519 Most advisors are honest and most of what Suze says is nonsense. You can't give generic advice and expect that to work. Plus she doesn't even follow her own advise. Go to msn's site and search "stop listening to suze" It's very interesting.
insurancemike10 1 year ago
@insurancemike10: Only a crooked scum artist like you would call most advisors Honest. Of course this comming from a dickless looser like you.
bond519 1 year ago
This comment has received too many negative votes show
Orman: "Its only garunteed if you die"
What exactly did Suze Orman miss? she said exactly what the lady said... Is there a problem with NOT expecting everyone to "die unexpectedly 6 months later"?...
The uploader of this video is so biased he/she apparently didn't even watch the clip before posting it.
StonedLogic 3 years ago
ha, this girl does not know whats flying, how can you say blanket statements?? that shows she has no idea what she is talking about
icecracker1 3 years ago
suze moron......what was her rep number? Oh yeah, she never had one. She is paid by corporate sponsors, and has never made money as a financial advisor. She just needs to go away
bbaetge 3 years ago 3
C'mon, we all know Suze's blanket "financial advice" to EVERYONE is to buy term life insurance and invest in the Vanguard Index 500 fund, no matter your net worth, income, etc.
cgbase 3 years ago 8
This comment has received too many negative votes show
shows how much of an idiot you are, shes AGAINST life term insurance. and there are exceptions, what is she suppose to do, explain her entire book on air?
besides im filthy rich bc of her
elevensmiles11 3 years ago
I'm going to make a youtube video called "angiepgs doesn't know anything about video sound"
TheAceManHimself 3 years ago
I'm pretty sure this is why Suze Orman never takes live, unscreened phone calls anymore. All questions asked to her are screened so she won't have to be made a fool of anymore.
cgbase 3 years ago 2
fitipaldi037, Sorry but annuities have death benefits. The purpose of annuities include preferential tax treatment AND guarantees, include a death benefit guarantee. Otherwise we would all go for mutual funds. Read a contact.
angiepgs 3 years ago
annuities are retirement accounts,death benefits are only available with life insurance
fitipaldi037 3 years ago
Sorry. Annuities have basic death benefits, enhanced death benefits, 5% roll-up death benefits, etc. Life insurance isn't the only vehicle with a death benefit.
cgbase 3 years ago 4
What a dumb cunt.... why does she bash life insurance and annuities ect does she want everyone to put money into the stock market? What is her advise then?
dly311 3 years ago
this lady does not know where she stands. If she were my financial advisor i would fire her.
atrane34 3 years ago
I don't know, seems like she had to eat a little crow in that one. Whole Life Insurance is a great investment if you don't have enough money to invest in other products & I understand she's anti- any product that isn't term. Her advice is often general & some of her followers are too stupid to research these products on their own w/o her biased opinions. I'm just sick of her method of debate. I'm an adult & I tend to shut people over the age of 14 off when they start to whine.
faqmare 3 years ago
GE at 42.02
C at 49.05
GM at 61.20
Those days are gone
bamc53 3 years ago 3
I dont see the discrepency.
Suze made a statement, a caller told her the situation, and Suze corrected herself and learned something.
im not understanding how this is a bad call?
pamperedgurl 3 years ago
If Suze is giving financial advice, she shouldn't be learning lessons on national TV. That's why it's a bad call on her part.
thatpsychostud 3 years ago
This comment has received too many negative votes show
I agree, how is that a bad call? She said "it's only guaranteed when you die", "when there is a death benefit that makes sense". Her main point was that vaiable annuities are sold as an investment, not as insurance. She did not correct herself. She stated the same before the caller as she commented to the caller. The truth still remains, the are a crappy "investment". The only benefit they are is to the beneficiary when the annuitant dies.
blanti 3 years ago
Variable annuities ARE an investment. In a simplistic term, it's like owning mutual funds that have certain guarantees for the beneficiary in terms of principal (and now, for the owner in terms of income), There is nothing crappy about the concept itself -- there may be crappy VAs, but every product has crappy examples. Once again, this video is a perfect example of why people should not listen to Orman's blanket advice.
CaptainMike1968 3 years ago 3
If a VA is attached to a Life Insurance product, it is not deemed as an investment and representing it as if it were an investment constitutes Insurance Fraud.
IncorruptibleTruth 2 years ago
This has been flagged as spam show
A variable annuity is an annuity contract backed by the claims paying ability of the insurance company. It is an investment that gives the owner and/or annuitant a sense of guarantees toward payments at retirement and a sense of guarantees in premium return for the beneficiary.
It seems that you are mixing up life insurance with annuities, which are separate things. I see that you claim to be an RIA, so either you don't deal with variable annuities or you know nothing about them.
CaptainMike1968 2 years ago
I don't understand her comment "when there is a death benefit, then in that case they make sense". Who sells an annuity WITHOUT a death benefit and why would someone buy it? One of the main reasons for buying a VA is FOR the death benefit. Even Ed Slott, one of the top CPAs in the country, recommends VAs for the death benefit - which given what is happening now in the market makes even more sense.
desmoluvr 3 years ago
Those near retirement, or in retirement w/ 401(k) who avoided VA w/ protected withdrawal guarantees because Suze didn't like them are screwed now. 401(k) may have lost more than half of it's value, whereas a VA like Pru's VA w/ HD-7 rider would still guarantee the principal after 10 years, as well as at least DOUBLE the withdrawal value in 10 years (no annuitization req'd), regardless of investment performance. Suze, by giving out such general advice is doing more harm than good. Sorry.
statis 3 years ago
Does Suze have more teeth than the average person?
ktm7979 3 years ago 2
This has been flagged as spam show
DONT READ THIS Cause It Really Works. YOU WILL GET KISSED ON THE NEAREST POSSIBLE FRIDAY BY THE LOVE OF YOUR LIFE. TOMORROW WILL BE THE BEST DAY OF YOUR LIFE. HOWEVER IF YOU DONT POST THIS COMMENT TO AT LEAST 3 VIDEOS YOU WILL DIE WITHIN 2 DAYS. NOW UV STARTED READIN DIS DUNT STOP THIS IS SO SCARY. SEND THIS OVER TO 5 VIDEOS IN 143 MINUTES WHEN UR DONE PRESS F6 AND UR CRUSHES NAME WILL APPEAR ON THE SCREEN IN BIG LETTERS. THIS IS SO SCARY!!!!
amziepamzie1996 3 years ago
blah blah blah blah...blah blah...love suze orman..=)
jamestakeshi 3 years ago
An annuity is an insurance product and always has a death benefit. She also hates VUL and IUL.
brucebryce 3 years ago
Not all annuities are insurance. The one that are, are a ripoff just like any universal, variable, or whole life.
dch837 3 years ago
Well most are, I am not talking about a settlement from a sweepstakes. She is talking about a VA so, yes they are an insurance products. Thats why you have to have a life insurance license to sell them. Whole life is for older people who want tax free death benefit to their kids, price isn't the #1 concern, its a hell of a lot cheaper than term when they are older. All products serve a purpose or regulators would not allow them. My VUL is doing awesome, better than most MF's.
brucebryce 3 years ago
it's not your VUL that is doing well, it's the FUNDS that are in your VUL. If you'd have been investing in those same funds OUTSIDE of your VUL you'd see greater returns -- all of the fees associated with your insurance contract are dragging your returns down.
idrive300 3 years ago
Suzy gets punked. She does her usual head shake and goes hum alot , then tries to backpeddle when she knows she's been caught. "There is a death benefit". There is ALWAYS a death benefit, that is one of the primary reasons people buy VA's. Get a flipping clue Suzy.
desmoluvr 3 years ago 2
ONE WORD COMES TO MIND... HACK
bluesplinter 3 years ago
BOGUS CLIP! Suze's response was cut off! Also Ken and Daria Dolans HATE variable annuities. All money making machines for Insurance companies.
The ins. co. fees alone will eat you alive.
strobe155 3 years ago
Wow! A car hits and kills a man. Are all cars bad? Of course not. When is ALL of anything bad? Never. In 2007, BILLIONS OF DOLLARS were invested in excellent annuities. So, all those people are stupid? Here's a really radical suggestion for you: READ A CONTRACT! My mother always taught me that knowledge is power. So, read a little.
angiepgs 3 years ago
Fantastic idea (your mom taught you right!) for people to actually read what they sign. What a novel idea. People like to talk about "fine print" & other things to make excuses not to read something. I read everything I sign and I rarely see what is true small print that I can't easily read.A lot of people do not want to know the details just want everything to go the way they "think" it should no matter what happens, or they get advice from a family member, neighbor etc that is not an expert
WillBackbone 3 years ago
Many brokers who hate annuities do so because trading inside of a variable annuity has no charges. They rather call you to suggest a trade in your brokerage account - It generates commission. Duh. Inside a VA, half of the fees go to the FUND COMPANY! Did you hear that? The insurance company only gets it's fees and the client can pick the protection features and fees he wants.
PLEASE DO NOT ANSWER THAT YOU HATE ANNUITIES UNTIL AFTER YOU READ A CONTRACT! DUH!
angiepgs 3 years ago
Many brokers use the m funds that pay high comms. With a VA, there are no front-end charges. The $ goes into the best sub-accts (funds). Those sub-accts are the cream of the crop. If a fund manager is not performing up to par, the VA company can yank that fund out and replace it with a better one - AT NO ADDL CHARGE TO THE ANNY HOLDER! Those VA sub-acct funds are often insttnl funds that you would need millions to qualify if not using a VA. Holy cow!
angiepgs 3 years ago
VAs have a purpose that doesn't fit everyone, of course! But, if you worry about the market and want protection, it can be a really good solution. And, the death benefit usually avoids probate!
I promise not to talk about how stupid you are, until I meet you and can verify it, if you promise not to slam VAs until you've actually read a contract! Duh!
angiepgs 3 years ago
The problem is not the variable annuity its the expensive annual renewable term the is attached. The price for the insurance goes up each year and the premium stays the same. Ultimately the investment amount each month or quarter goes down. Plus you don't need life insurance your whole life if your investment is enough to cover your spouse and any minors in general.
dch837 3 years ago
Are you sure you got the right product?
dollabills88 3 years ago
Yes I do have the right product. I have a 35 year level term and aggressive mutual funds. I dont have a variable annuity because I'm not old enough. That doesn't meen there bad. Only the ones attatched to life insurance are bad.
dch837 3 years ago
Read the response below from:
DarkLadyAthena1
This lady has the right approach. Take a little bit from different resources and do research on your own, too.
angiepgs 3 years ago
IMBECILE-COMPLETE IDIOT.
itillbeme 3 years ago
This is just another example that Suze has no idea what she is doing. It blows my mind how her employers allow this to continue.
colinardill 3 years ago
I believe in Sue, true she is human, but I mean we all make mistakes, that doesnt mean oh I DEPEND ON HER, WAY NO!!! I listen to her advice read her books but decide what to take and then inform my self based on her AND ME and the OFICIAL SOURCE, it is better to base your information on her, on the companies, on yourself, ON EVERYTHING!!!
That is the problem people only get informed on one source, not at all, and that is what they should do be informed and sure about themselves.
DarkLadyAthena1 4 years ago
You're on the right track! Thanks for your feedback.
angiepgs 4 years ago
You're welcome I always say keep yourself informed on what she has to sya but also others, sources and your own.
That way you can make better financial decission, I value her opinions but some details I base them on smobody else or the original bearous and then decide which have truths or if both have.
Anyway you are welcome
and thank you for posting this, so people can see many sources and be more informed.
where do u get these videos? I would like to know.
anyway have a good weekend.
DarkLadyAthena1 4 years ago
so you better pray someone dies if you take one out!
nightofyaoi 4 years ago
Suze's understanding of insurance products and how they differ from pure investments borders on idiocy. She also regularly ignores the secondary guarantees that are now present in almost all variable annuities. As someone else stated, Suze is well behind the times in regards to these products.
FYI, Suze does not go on to explain herself, she takes another caller (I have seen the transcript, but not a video).
kastnna 4 years ago
Thanks for your comment.
angiepgs 4 years ago
Yes, it does cost more in fees then the straight cost of the mutual funds, but annuities aren't designed for people who are trying to maximize all earnings off the market. They are generally designed for those who still want to grow their money in the market but still want guarantees that they won't lose more than they put in. I'm sorry, but Suze's concept of a VA is more reflective of how they were 10 years ago, not today's more competative products.
pylesipe 4 years ago
I think Suze needs to re-evaulate her blanket hate speeches on variable annuities. The situation that happened with this "caller in" is not unique. It happens every day, and protects people assests who would have otherwise played the market and lost.
pylesipe 4 years ago
The important issue here is that the customer should be given all the choices that fit their situation and the customer should be the one to decide. Some people love variable annuities. Some hate them. It should be the customer's choice, not strictly based on what the advisor likes.
angiepgs 4 years ago
I don't have more of the recording. They likely moved to next topic. It's not a tax. It's a Mortality & Expense charge on the growth of the funds. VAs have subaccounts such as the Contrafund Fund that you can choose and move your money between w/o more expenses. If you earn 8% in a year, the co earned 9.3% and used the 1.3% for the ins/death benefit. Read contract & prospectus. There are good and bad ones. Like anything you pay for such as good and bad cars, phones, doctors, etc.
angiepgs 4 years ago
I think we should see the rest of what Suze had to say in response to this, Im sure she explained her point in full , but we can't hear that. Just judging from what we did get to hear from Suzie , she said Variable annuities only work when you die to get it and then you have to pay a mortality tax to get it, the lady who called in got paid from her husband's death from a variable annuuity. How did that not work with what we heard Suzie say?
MixWellWorld 4 years ago
Have you ever read a contract? Most people don't have a fire in their home but they have home insurance don't they? Let the client decide what is important. They don't all have high fees. There are billions of $ deposited into annuities every year. Are all those people wrong? The ins industry in North America holds, controls, and manages more money than the entire world banking industry. Does it make sense to you that "all" annuities are bad? When is all of anything bad? Read a contract.
angiepgs 4 years ago
Suze Orman makes a good point here. Variable annuities are horrible investments. The reason that the caller's account was down so much is because of bad investments and a super high annuity fee. She got lucky to be in an annuity in this case, but if you don't die until you're 80 or 90, which is the case for most people, you get screwed on fees. Good call by Suze. Even though I hate her.
investadvisor 4 years ago
Super High annuity fee's? Oh Mr InvestmentAdvisor, how much to you charge for your AUM? 1%, maybe more? Just wondering. And how do you know that they were bad investments that the ladies husband was in. This product served this family perfectly yet everyone wants to pile on with how bad they are even with evidence proving otherwise. Ed SLott, the nations top 401K and taxes expert recommends putting some of your ira (not all) into VA's just for this reason.
desmoluvr 3 years ago
Defensive are we? Yeah, it seems a bit. No I do not charge any AUM fees, but rather an hourly fee-based business where most clients pay less than 30 basis points on average per year. Met with an annuity client today whose $50,000 in 1994 has grown to $130,000 in an American Fund stock fund. He was ecstatic. Had to inform him, however, that this was barely a 7% average... thanks to M&E. Ed Slott actually refers to low cost Vanguard annuities, read the fine print.
investadvisor 3 years ago
I could care less which company he recommends annuities from - that was not the argument. The argument, especially from Suzy O, is that they are ALL bad and they are not.
desmoluvr 3 years ago
OMG! Have you read anything at all?!! Read the comments below and READ A CONTRACT!!! Don't bother to respond.
angiepgs 3 years ago
Ooh! Don't bother to respond? That's because you can't deal with the truth. Most folks who live and die by these things are a little insecure. I'd have said don't respond if I were you too, and tried to avoid the debate. You are smart in some ways I guess.
investadvisor 3 years ago