Suze Orman's Bad Call

Suze Orman doesn't know everything about everything. Her advice tends to be very general and doesn't allow for unique situations, which actually occur more often than one might think.

Category:

News & Politics

Tags:

• investment
• insurance
• annuity
• annuities

[bryanbuff]

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.

[rcdrury1]

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!

[PedroMan83]

@dox78 So I guess you've never bought a home, car, or clothes?

[PedroMan83]

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.

[BiGChinGSvideos]

wow a hater gettin punked

[mgillum28]

Glad I don't get my financial advice on a 60 second phone call from a television personality!

[prcaballo]

@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]

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.

[gytr04]

Why do CV state that they can lapse even though premiums are being paid?

[dox78]

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...

[Jgillie85]

@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]

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.