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Old 07-23-2013, 02:22 PM   #21
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He and Suze Orman would make a great pair...........
No, Suzy is doesn't understand personal finance at all, Ray does, he just too much "car salesman" for me. Also has a major ego, which rubs me the wrong way, of course that may be a requirement for being a radio host.
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Old 07-23-2013, 02:26 PM   #22
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I believe in the basic approach of having a bucket of money that you can live off that is will not be affected by a major market downturn.
My FIRE portfolio is diverse and contains some assets that are stabile and liquid. Those would be available to me in a market downturn that turned everything else into strong "holds." But I'd never consider keeping money in a bucket for that situation........
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Old 07-23-2013, 02:28 PM   #23
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Just reinforces the fact that the financial advisor industry has more than its' share of snake oil salesmen ready to take your money. Nothing new but all the more reason to DIY. Just my two cents.
I recently read this book -

Amazon.com: Pound Foolish: Exposing the Dark Side of the Personal Finance Industry eBook: Helaine Olen: Kindle Store

It reminded me that just about anyone who is making a living "helping" others with their finances has an agenda and a profit motive. Interesting read. She has criticism of just about every money guru I had heard of and some I hadn't heard of including, Suze Orman, Dave Ramsey, Jim Cramer, Jean Chatzky, Robert Kiyosaki, David Bach.

The link is to the Kindle version but I borrowed an actual hardback copy from the library.
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Old 07-23-2013, 02:51 PM   #24
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If he is really that great he would not be working a radio program.
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Old 07-24-2013, 06:28 AM   #25
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The more I heard him the less I liked him, ultimately dropping his show altogether a few years ago. I was a supporter of the bucket metaphor until I put it into personal use and saw its rigidity and "an answer for everything" look and feel. There were logical flaws which I found troubling as I became more knowledgeable. Finally I became distrustful of his advice and moved on.

But I admit the bucket thing helped me understand certain concepts which helped me out.
Yeah, I went along the same route. I still maintain a cash reserve (bucket) as do many here to use in a downturn to give equities time to bounce back. What I never liked about Lucia is that he would not articulate a strategy for when to withdraw from cash and when to refill. In other words no re-balancing strategy. I still struggle with when and from which accounts to liquidate for expenses.
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Old 07-24-2013, 10:21 AM   #26
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There were at least two that I know of in our neck of the woods who had radio shows and plenty of ad spots in the AM and PM drive home time slot.

One of them bought the one hour Sunday time slot and passed himself off as an expert...getting people to attend his 'free wealth building seminars'. Not sure how the other one got on the air.

Turned out that they were wealth building seminars but not for the attendees. Both individuals had large Ponzi schemes. People invested their retirement savings, mortgaged homes etc. They lost everything-save for about five cents on the dollar. It was very sad.

Seems to be lots of these crooks around right now trying to take advantage of folks who lost money in the market or want to get a higher return.

The selling of boxes of Iraqi dinars on the promise of massive currency appreciation is a favorite scam in some of the church based affinity groups here. You really have to scratch you head and wonder why people would fall for that without even checking if it is possible to sell them. Go figure.
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Old 08-03-2013, 09:20 AM   #27
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Should this thread be added to the FAQ?

(FAQ Archive) Ray Lucia and his buckets


-ERD50
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Old 08-03-2013, 05:46 PM   #28
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I caught Ray on the radio this week. No mention of any SEC activity.
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Old 08-04-2013, 04:52 AM   #29
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there is no more to mention , he is fined and banned. done!
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Old 08-04-2013, 05:31 AM   #30
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there is no more to mention , he is fined and banned. done!
I guess question is why is see still on the radio weeks after the SEC ban?
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Old 08-04-2013, 06:27 AM   #31
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He may even have some tv shows somewhere still on.

The sad part is i found him to give pretty decent advice Most of the time i would agree with.

How ironic.
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Old 08-04-2013, 08:09 AM   #32
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I guess question is why is see still on the radio weeks after the SEC ban?
I don't think an SEC judge can ban a person from having a radio show. The article linked in the OP didn't mention anything like that. Hosts who talk about money usually make it a point to run a specific disclaimer that they aren't giving investment advice, just providing general information, etc. He may even still be promoting investment seminars, etc on his show, but probably not his own anymore.
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Old 08-04-2013, 08:22 AM   #33
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He's not banned from the radio, he is banned from the securities industry or associating with anyone in the industry, and his securities licesnse was revoked. I would imagine he could still have a radio show where he gives advice.
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Old 08-04-2013, 08:31 AM   #34
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He's not banned from the radio, he is banned from the securities industry or associating with anyone in the industry, and his securities licesnse was revoked. I would imagine he could still have a radio show where he gives advice.
When I listened to his show, there is a disclaimer that they don't sell or represent RJL holdings (ie he doesn't represent his own company ), I'm guessing that the judge didn't buy it. Since there is no requirement that anybody on the Radio/TV/Internet be certified, he can continue along with all the other radio snake-oil salesmen.
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