Bad Advice from Suze Orman

[Peter T Davis]

I'm curious if anyone else has watch the Suze Orman show on CNBC. Supposedly, her show is "Business & Finance" but it's more like advise to people not to do anything at all that might lead to them breaking out of the wage-slave trap.

[albieb]

Originally Posted by Peter T Davis

I'm curious if anyone else has watch the Suze Orman show on CNBC. Supposedly, her show is "Business & Finance" but it's more like advise to people not to do anything at all that might lead to them breaking out of the wage-slave trap.

Chicken before the egg syndrome.

Many people need to get their act together before they can move on. I know many people that are in their mid 20s single, no kids, making 60K and up and yet they have no money for anything, Hi credit card bills, expensive cars, and no clue whatsover how to get out from under.

Suze Orman's approach is too simple for me at this point in my life, but I have given copies of her book to my colleagues and "young grasshoppers" who have been having a problem getting ahead.

Once they manage that, they can "escape" from the wage/slave trap that traps them.

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In my own personal experience, by the time I was 24, I was 25, 000 in debt, had nothing to show for it , and I ate at Chevron because that was the only credit card that wasn't maxxed out because I had no car.

A friend of mine gave me a book, the late Charles Givens' Wealth Without Risk. Poor guy (Givens) got himself a bad rap, but changed my life and all the people I've helped.

[Plastyk]

Those shows are all very depressing to me. "If you cut your own hair, you'll save $10.00 a month which you can put towards your $90,000 in student loans..."

I'd just once like to hear, "You and your wife earn a combined annual income of $30,000. You drive cars worth $10,000 less than you owe on them. You rent your trailer. You have $50,000 in high-interest debt and $1600 a month in child support. You have no assets or education. You declared bankruptcy two years ago. Looks to me like you two are doomed. I would recommend you both start smoking more, eating more red meat and praying for an early death. Next caller..."

[Biztechadvisor]

Peter,

I share your outlook on Suze Orman. I cringe everytime I hear what she has to say. She made her money writing books and doing her show, not by starting her own company. She should only give conservative get out of debt advice because her business finance advice is the weakest!

Sorry, people like her unkowingly hurt the average American. If I had followed her advice, I would not have been able to achieve the success I've come to appreciate. SHe knows nothing about helpful business finance tools:

-Reg D 504's (144 or not)
506's
-Debt Equity
-Roth & SEP IRA variations for business
-Insurance company investment capital (Warren Buffets beginning tool)
-Commiting customers to a product before the business is started
-Actually obtaining loans for business with Letter's of Intent
-SB10's/Reverse Merger capital variations

Etc....