I think one of the most important things for young people to do when they're starting out is to avoid Suze Orman.modhatter said:
Especially when they already own GM cars.
Can you imagine Jack Bogle or William Bernstein flogging Hummers or VWs?
Book to help Youing Couple Get started on the right financial foot??
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Especially when they already own GM cars.
Can you imagine Jack Bogle or William Bernstein flogging Hummers or VWs?
unclemick
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Books aren't worth spit - compared to the 'delicate' and carefully crafted art of mentoring - harder but it works better.
You can grade their book reports in the stretch.
You can grade their book reports in the stretch.
Nords said:
Nords, we must share a common dislike of bad authors. Kiyosaki and her are the two worst "financial pundits" out there. I've never read her books and I never will. I have read a number of her articles on Yahoo Finance, and she usually does a poor job of getting her facts straight. Many times she is flat out wrong and gives poor advice.
Mr._johngalt
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justin said:
There was a Seinfeld episode where a "Suz" character turned out to be
nonexistent. ER wannabees would be well served if they
pretended Suze Orman did not exist
JG
I haven't had much exposure to Suze Orman. I've caught a few minutes of her on TV once or twice and heard one of her radio shows once. She seemed to be the Richard Simmons of investing. But I don't know that either her or Richard should be condemned. They both offer advice to the clueless who are probably unable to understand more serious, detailed advice.
If you are in good physical shape, eat right and exercise, Richard Simmons is kind of a clown. But there are lots of people who were affected positively by him. They lost weight and started exercising when other things didn't work for them. Same for Suze (I think). If you have gotten yourself to early retirement, chances are Suze seems like a clown. But there are plenty of clueless investors that seem to have turned their financial situation around because they listened to her.
Another way to look at it is that people can only learn incrementally. They have to be intellectually prepared to learn. If their current knowledge on a topic is basic or non-existent, they can't possibly learn advanced details. They have to learn the basics first. A great major league baseball coach may be pathetic as a little league coach, and a great little league coach has nothing to offer a verteran major league star.
Or maybe I'm wrong and Suze is evil. Like I said, I really haven't had much exposure to her.
If you are in good physical shape, eat right and exercise, Richard Simmons is kind of a clown. But there are lots of people who were affected positively by him. They lost weight and started exercising when other things didn't work for them. Same for Suze (I think). If you have gotten yourself to early retirement, chances are Suze seems like a clown. But there are plenty of clueless investors that seem to have turned their financial situation around because they listened to her.
Another way to look at it is that people can only learn incrementally. They have to be intellectually prepared to learn. If their current knowledge on a topic is basic or non-existent, they can't possibly learn advanced details. They have to learn the basics first. A great major league baseball coach may be pathetic as a little league coach, and a great little league coach has nothing to offer a verteran major league star.
Or maybe I'm wrong and Suze is evil. Like I said, I really haven't had much exposure to her.
SG,
I think you have a point there. I recommended Suze Orman's books to a friend (my kid's middle school teacher -- newly single mom, no savings, looking to me for 'investment advice') who are truly at square one with all things financial and investing. I think Suze, aside from her GM fiasco, is approachable for this crowd. Everyone here, on the other hand, steer well clear.
Can't say the same for Kiyosaki -- I couldn't recommend those books to anyone. He is quoted, somewhat defensively, as saying, "I never said I was a best-writing author -- I only wanted to be a best-selling author... and I am!" Caveat Emptor.
I think you have a point there. I recommended Suze Orman's books to a friend (my kid's middle school teacher -- newly single mom, no savings, looking to me for 'investment advice') who are truly at square one with all things financial and investing. I think Suze, aside from her GM fiasco, is approachable for this crowd. Everyone here, on the other hand, steer well clear.
Can't say the same for Kiyosaki -- I couldn't recommend those books to anyone. He is quoted, somewhat defensively, as saying, "I never said I was a best-writing author -- I only wanted to be a best-selling author... and I am!" Caveat Emptor.
SG, I think you are generally on to something. After reading Kiyosaki's book and Suze's articles, I thought they were ridiculous. But I now realize they serve a limited market. If you need a cheerleader to cheer you to your goals, check out Kiyosaki or Suze. They are more self-help, motivational authors from what I've seen. And you're certainly correct. The learning starts on the ground floor. I know that there are better money/investment/budgeting books out there for the novice.
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