suze orman says....

[kumquat]

And here I though travelover used a sarcasm font.

 

[travelover]

Maybe she just pronounces it wrong.

Or did you have a humorectomy too?

There are people that say that Suze don't know nuthin'. I have to say, Yes she does!

 

[Bestwifeever]

This blatantly false. She has a right to spell her name anyway she wants.

 

[cj]

I admit I watch Suze just to laugh at the ridiculous situations people get themselves into. Makes me feel so smart. DH watches too. I'm the financial organizer in the family and he goes along for the ride. When she said the thing about how everyone should wait until 67 to retire, he said, maybe we shouldn't be thinking about retiring so early. I kept saying, she's not talking about us.

 

[gerrym51]

Hmmm? Lets see. A forum devoted to retiring early discussing someone who advocates not retiring early. this is turning out grand

 

[Alan]

I admit I watch Suze just to laugh at the ridiculous situations people get themselves into. Makes me feel so smart. DH watches too. I'm the financial organizer in the family and he goes along for the ride. When she said the thing about how everyone should wait until 67 to retire, he said, maybe we shouldn't be thinking about retiring so early. I kept saying, she's not talking about us.

You need to assure him that you are not in the 60% that "need" to push back their retirement. (at least according to this artice).

How to Test Drive a Retirement Plan

Hardly a week goes by without a new study landing on my desk indicating that a large number of workers—as many as 60 percent, according to one survey—are pushing back their retirement dates. I hate to say this, but that's likely a good thing. The delays should give people additional time to take the final and most important step in planning for retirement: putting those plans through a test-drive.

 

[martyb]

Her advice may or may not be great, but I cannot get past the scary appearance.

lol !!!

 

[martyb]

If you aim to retire @55 and miss your target by 5 yrs, no big deal.
If you aim to retire @67 and miss your target....
Seems to me, aim low and you'll be better off, no matter what.
TJ

+1

 

[veremchuka]

Suze Orman's crimes against humanity:

1. She spells her first name wrong.

2. She has pocketed $30 million by dispensing commonplace advice.

3. She is a vampire.

add to that she refers to herself in the 3rd person. no matter who does this it really annoys me. i think people that do that are such narcissists that they need to hear their names all the time.

 

[DallasGuy]

Suze Orman's crimes against humanity:

1. She spells her first name wrong.

2. She has pocketed $30 million by dispensing commonplace advice.

3. She is a vampire.

She clearly appeals to many people or she wouldn't have pocketed $30 million. I find it somewhat amusing that so many people in this forum are so hateful...or maybe they're just jealous that someone they don't like actually came up with a great marketing idea.

 

[Nords]

i think people that do that are such narcissists that they need to hear their names all the time.

In her [-]life[/-] business that's called "marketing"...

 

[Onward]

I mostly object to the vampirism.

 

[travelover]

I mostly object to the vampirism.

We can't help the way we were born. I do wish she'd learn to spell her own first name, though.

 

[rmark]

‘She consistently gets the "am I ready to retire yet?" question wrong on her show. That is because she think you need to be able to live off the income only of your investment assets.’
Fixed income supported by irregular equity growth is traditionally how it is done. Easily understood – say at age 70 I have $700,000 in bonds at 4% and $300,000 in equities at 1.5%, my portfolio generates $32,500 with equity growth intended to offset inflation. That’s a 3.3% withdrawal rate, a bit low from past US data at age 70 but no need to read any academic studies or use monte carlo programs. Just a simple bonds = age, spend the cash flow.
‘yeah and she was telling this poor woman that she'd have social security to add to her income! imagine expecting to collect ss in another 37 years from today!’
Social Security estimates that 75% of benefits can be paid from cash flow into the system (ignoring the trust fund, which is largely a bookkeeping fiction) over the 75 year planning period.
I’m not familiar with Size Orman’s books or advice, nor do I think she looks like a vampire. I suspect her target audience is one who didn’t get personal finance training at home and she gears her suggestions to that end.

 

[crispus]

I think Suzy thinks just because she loves her career and is over 60 and going strong, that everyone else should be like her. I for one hated my "career" especially after loosing my small business and having to work for someone else, and could not wait to retire. A lot of us are willing to live frugally in order to be able not to work.

 

[skyvue]

I think Suzy thinks just because she loves her career and is over 60 and going strong, that everyone else should be like her. I for one hated my "career" especially after loosing my small business and having to work for someone else, and could not wait to retire. A lot of us are willing to live frugally in order to be able not to work.

Exactly. For people who have a jobs like hers or are a NFL football coach, actor, politician or other "jobs" that really are their passions or hobbies, I don't see the harm in working forever.

However, that is the vast minority of Americans. I am guessing less than 5% of the population is actually working in their dream job.

 

[wanaberetiree]

Last weekend Suzy all of the sudden suggested that $2.3M will generate $10K pretax money, which is >5%, maybe she read this thread?!

 

[slingshot]

Suze and Dave Ramsey are directed toward an audience that can't manage their day to day finances - people with a negative savings rate. Any advice regarding actual long term investments is purely theoretical to the majority of their listeners. In the end they know that they will end up living off Social Security and if they manage to retire with a minimal debt load, they'll eat premium cat food.

I am so thankful that we found Dave Ramsey a few years ago. He was perfect for us at that time! You are correct that his advice is targeted to getting out of debt and not towards investing wisely.
That is why I'm so thankful that we found the ER board!

 

[MasterBlaster]

Here - Pull My Finger !

"You talkin' to me?"

 

[mickj]

Just watched her on the PBS fundraiser..

Her new mantra is.... LBYM is the 'new' american dream

We've come a long way baby

 

[poorgeezer]

If it was not for advice from people like Suze this site would be too crowded for people like me.

 

[FANOFJESUS]

Suze had about 40 million with 39 million in tax free bonds and one million in the market. I guess that tells you what she thinks of the market.

 

[Loop Lawyer]

If you aim to retire @55 and miss your target by 5 yrs, no big deal.
If you aim to retire @67 and miss your target....
Seems to me, aim low and you'll be better off, no matter what.
TJ

+2

One great virtue of LBYM is that it provides enormous "margin for error."

 

[Danmar]

+2

One great virtue of LBYM is that it provides enormous "margin for error."

Get back fo work, Loop.

 

[RetirementColdHardTruth]

Well here is my story about Suzie. Back in 1997, I started watching her on PBS. Then I went to the library and picked up a couple of her books. I think the first one I read was the 9 Steps book. By 1998 I had implemented her 9 Steps and was progressing to learn more. I spent some time in 1998-1999 jumping on the day trading bandwagon, never really made much money but realized after entering a couple hundred trades into the Turbo Tax at the end of the year and seeing I only made about $4,000 for all my trouble. If I had have just bought the S&P 500 I would have made more. I was really peed off given it took me so long to enter all of those trades one by one into the tax software. This was a true wakeup call for me in following Buy only no load index funds.

I continued to read everything she wrote and found Dave Ramsey, read millionaire next door, the books by David Bach. I read just about every thing else I could get my hands on in the 332 section of the library. I started finding a common thread and by 2001 I was getting stuck into Asset allocation.

Started seeing stuff about the couch potato portfolios, and then even started reading some very technical books that were explaining mathematical principles about Modern Portfolio Theory.

I settled into a Coffee House Portfolio and pretty much stuck to that since 2002. I did however sell off all of my bonds and moved 100% to stocks during the tanking of the market and the recession. Hey it was the Sale of the Century and I thought even if I was going against AA I had time to recover if needed.

So all in all I applaud Suze for what she is. A great starting point for the financial literate in our society. She has definitely been a stepping stone for me and I am sure there were many others that used her as a starting point.

I don't think I would be sitting on a Net Worth of 1.2 million at 38 without getting a prod to start somewhere from her back in 1997.

GG