suze orman says....

[steelyman]

I'd recorded her show last night, but ended up turning it off after about fifteen minutes because it seems to me she increasingly believes her purpose is to be an amateur psychiatrist. I would much prefer listening to pure financial discussion.

[Nords]

Quote:

Originally Posted by steelyman I'd recorded her show last night, but ended up turning it off after about fifteen minutes because it seems to me she increasingly believes her purpose is to be an amateur psychiatrist. I would much prefer listening to pure financial discussion.

Spouse mentioned today that Suze has been stopping shoppers in the street (I think she asks them to stop, not physically halts them) and asking them what they received for Christmas last year.

Admittedly Suze's editing the video, but it's amazing how many people can't remember last year's holiday.

And then they resume shopping for this one.

[heirloom]

We used to get Dave Ramsey on one of our tv channels, but they cut his show. I have to credit him too for helping people realize they were living too far beyond their means and they would follow his advice about selling or downsizing. I truly think his show may be one reason so many people stopped buying more than they needed and quit using cards so much. CNBC has been talking for the last year how personal savings have been going up and debt decreasing. I think it may be because of the help from these shows.

I loved Friday nights when he would play a clip of different ways people would get rid of their credit cards after they were "debt free". My favorite was when a man lined all his cards on a fence beside each other and shot them one at a time with his gun.

[Walt34]

Quote:

Originally Posted by heirloom My favorite was when a man lined all his cards on a fence beside each other and shot them one at a time with his gun.

That's just weird! And ammunition is expensive nowadays. I don't suppose just putting the cards in a drawer would work.

I saw on Suze's show a couple of weeks ago she is now preaching LBYM. She actually used the words "live below your means. You can't afford not to".

Wow. What a concept.

[Andre1969]

Suze gave some advice the other day to someone that I didn't agree with, and I was curious as to what everyone here thinks about this situation? It involved a 64 year old woman who wanted to take a $3,000 road trip with her daughter. As I recall, the specifics were something like:
Monthly net income: $1800
Monthly expenses: $3800
Savings/Investments/Retirement: $630K total (can't remember the breakdown though)
Debt: she assumed her daughter's student loans of $54K.

Anyway, Suze denied her because she was spending $2000 per month more than what she was bringing in. The lady tried to argue saying that some months her investments go up, but Suze wouldn't hear it.

But, assuming her portfolio keeps up with inflation, at a burn rate of $2,000 per month, shouldn't that $630,000 portfolio last her about 26 years? That would put her to 90, and she very well might not make it to that age.

FWIW, a 4% withdrawal rate would come out to $25,200, or $2100 per month, on $630K. Personally I think this lady should go for it, take that road trip, and enjoy the time she has. But, I could be missing something?

Seems like sometimes Suze wants everybody to die with millions of dollars left in the bank.

[ziggy29]

Quote:

Originally Posted by Andre1969 Seems like sometimes Suze wants everybody to die with millions of dollars left in the bank.

And while they are still working, even if they are 70+.

[2035]

Quote:

Originally Posted by Andre1969 Suze gave some advice the other day to someone that I didn't agree with, and I was curious as to what everyone here thinks about this situation? It involved a 64 year old woman who wanted to take a $3,000 road trip with her daughter. As I recall, the specifics were something like: Monthly net income: $1800 Monthly expenses: $3800 Savings/Investments/Retirement: $630K total (can't remember the breakdown though) Debt: she assumed her daughter's student loans of $54K. Anyway, Suze denied her because she was spending $2000 per month more than what she was bringing in. The lady tried to argue saying that some months her investments go up, but Suze wouldn't hear it. But, assuming her portfolio keeps up with inflation, at a burn rate of $2,000 per month, shouldn't that $630,000 portfolio last her about 26 years? That would put her to 90, and she very well might not make it to that age. FWIW, a 4% withdrawal rate would come out to $25,200, or $2100 per month, on $630K. Personally I think this lady should go for it, take that road trip, and enjoy the time she has. But, I could be missing something? Seems like sometimes Suze wants everybody to die with millions of dollars left in the bank.

I really hate to agree with Suze, but I do on this one.

[skyvue]

Quote:

Originally Posted by Andre1969 Suze gave some advice the other day to someone that I didn't agree with, and I was curious as to what everyone here thinks about this situation? It involved a 64 year old woman who wanted to take a $3,000 road trip with her daughter. As I recall, the specifics were something like: Monthly net income: $1800 Monthly expenses: $3800 Savings/Investments/Retirement: $630K total (can't remember the breakdown though) Debt: she assumed her daughter's student loans of $54K. Anyway, Suze denied her because she was spending $2000 per month more than what she was bringing in. The lady tried to argue saying that some months her investments go up, but Suze wouldn't hear it. But, assuming her portfolio keeps up with inflation, at a burn rate of $2,000 per month, shouldn't that $630,000 portfolio last her about 26 years? That would put her to 90, and she very well might not make it to that age. FWIW, a 4% withdrawal rate would come out to $25,200, or $2100 per month, on $630K. Personally I think this lady should go for it, take that road trip, and enjoy the time she has. But, I could be missing something? Seems like sometimes Suze wants everybody to die with millions of dollars left in the bank.

Her "when can I retire" advice drives me nuts. I saw the show and situation you describe. Suze denied her because she assumes you need to be able live off the "interest and income only" of your investments in retirement and not deplete principal but doesn't oftent come out and state this clearly. If you want to leave your money to your kids I think that is a fine strategy but not something everybody strives for. I know when I calculated my own situation it meant working for 10 more years to be able to not touch my principal. Love my daughter dearly but not enough to work 10 extra years of my life to leave her the whole nest egg. She can have all that is left though!

[Silver]

In the same program discussed above, during the 'How Am I Doing" segment she gave the caller an "F" in retirement planning.

Although I do not recall all of the details, what I do remember is that the caller was about 54yrs old and her husband was 60. Their goal was for the husband to stop working at 62 while she continued to work. Their combined assests were 1.1 mil including a paid for house and around 700K in investments. No debts. And Suze gave them an "F" saying the both need to work until at least 67 or maybe 70 yrs old.

She had previously lost all credability with me.....so I guess I was watching her show again only to confirm my opinion.

[foxfirev5]

I've managed to make this far without Suze's advice and don't plan to start now. I have realized that FIRE is such an alien concept that the media can not even acknowledge its existance anymore.

[easysurfer]

Quote:

Originally Posted by skyvue Her "when can I retire" advice drives me nuts. I saw the show and situation you describe. Suze denied her because she assumes you need to be able live off the "interest and income only" of your investments in retirement and not deplete principal but doesn't oftent come out and state this clearly. If you want to leave your money to your kids I think that is a fine strategy but not something everybody strives for. I know when I calculated my own situation it meant working for 10 more years to be able to not touch my principal. Love my daughter dearly but not enough to work 10 extra years of my life to leave her the whole nest egg. She can have all that is left though!

Funny how some miss the point that one may not choose to leave all their retirement money to heirs. Isn't that why it's called money for retirement and not money to leave to heirs?

[easysurfer]

Quote:

Originally Posted by Silver In the same program discussed above, during the 'How Am I Doing" segment she gave the caller an "F" in retirement planning. Although I do not recall all of the details, what I do remember is that the caller was about 54yrs old and her husband was 60. Their goal was for the husband to stop working at 62 while she continued to work. Their combined assests were 1.1 mil including a paid for house and around 700K in investments. No debts. And Suze gave them an "F" saying the both need to work until at least 67 or maybe 70 yrs old. She had previously lost all credability with me.....so I guess I was watching her show again only to confirm my opinion.

Even if she was right, I don't watch her because of the way that she berates the callers.

As the character Barney Fife from "The Andy Griffth Show" once said, "I'd rather be called skunkface than honey like that."

[Nords]

Quote:

Originally Posted by Andre1969 Anyway, Suze denied her because she was spending $2000 per month more than what she was bringing in. The lady tried to argue saying that some months her investments go up, but Suze wouldn't hear it. Seems like sometimes Suze wants everybody to die with millions of dollars left in the bank.

Quote:

Originally Posted by skyvue Her "when can I retire" advice drives me nuts. I saw the show and situation you describe. Suze denied her because she assumes you need to be able live off the "interest and income only" of your investments in retirement and not deplete principal but doesn't oftent come out and state this clearly.

Suze assumes that nobody should ever squander their human capital and should never spend their principal. Work until you're at least age 67, carry lots of life insurance (you never know!) and long-term care insurance (you will need it!), and don't have any fun until you've funded your retirement accounts.

With the audience she panders to, I can see why she'd impose those rules.

Besides, it's her job to stir up controversy. If she had a fair, open, honest, balanced discussion of the issues then nobody would watch her show-- even on nights when her canary yellow outfit has such a strong contrast with her orange spray-tan face and her blindingly white bleached teeth...

[ziggy29]

Quote:

Originally Posted by Nords With the audience she panders to, I can see why she'd impose those rules.

Probably so. Ditto for Dave Ramsey, actually. Many people *can* use credit effectively and responsibly, but they are not really his target audience.

[Mulligan]

Quote:

Originally Posted by Nords Suze assumes that nobody should ever squander their human capital and should never spend their principal. Work until you're at least age 67, carry lots of life insurance (you never know!) and long-term care insurance (you will need it!), and don't have any fun until you've funded your retirement accounts. With the audience she panders to, I can see why she'd impose those rules. Besides, it's her job to stir up controversy. If she had a fair, open, honest, balanced discussion of the issues then nobody would watch her show-- even on nights when her canary yellow outfit has such a strong contrast with her orange spray-tan face and her blindingly white bleached teeth...

If you want to see some real people with money problems, you should watch the show "Prince$$" which is right before Suze saturday night. These girls are clueless about money but since of entitlement is off the charts. Watching them struggle to change their ways with the drill sergeant lady on their case is a hoot.

[scrabbler1]

Quote:

Originally Posted by Mulligan If you want to see some real people with money problems, you should watch the show "Prince$$" which is right before Suze saturday night. These girls are clueless about money but since of entitlement is off the charts. Watching them struggle to change their ways with the drill sergeant lady on their case is a hoot.

Sounds like trainwreck television but "fun and pretty" trainwreck television LOL!

I found this link which has descriptions of upcoming episodes. I am not usually around on Saturday nights but this weekend I will be. Maybe I grab some popcorn and check it out?

News Headlines

[Andre1969]

I used to watch "Prince$$", but started getting kinda bored with it. It started getting a bit repetitive. But then, the same can be said about Suze, I guess!

[steelyman]

Quote:

Originally Posted by easysurfer Even if she was right, I don't watch her because of the way that she berates the callers. As the character Barney Fife from "The Andy Griffth Show" once said, "I'd rather be called skunkface than honey like that."

For sure.

I haven't watched her (intentionally) in many months.

If you do watch her, imagine inviting her over for dinner and having her behave that way!

[Mulligan]

Quote:

Originally Posted by Andre1969 I used to watch "Prince$$", but started getting kinda bored with it. It started getting a bit repetitive. But then, the same can be said about Suze, I guess!

I have only seen it the last 2 weeks. Im sure it will get old after awhile. I am still at the "stunned with their stupidity" stage. The one last week who made a $1000 a month, but was spending 11k a month thanks to her exboyfriend who I guess was paying because he thought he still could get her back was unbelievable. The lady was spending $2400 a month on just eating out at fancy restaurants. Needless to say she couldn't be salvaged despite the boyfriend choking off the money supply and did not get the $5k to help pay the bills.

[skyvue]

Quote:

Originally Posted by Andre1969 I used to watch "Prince$$", but started getting kinda bored with it. It started getting a bit repetitive. But then, the same can be said about Suze, I guess!

Agree. I used to watch and enjoy it but the storyline just keeps repeating itself over and over. The only thing that changes is how attractive the "princess" happens to be.