Sometimes for fun I turn on Suze Orman because the advice is so bad that its like a comedy show. I’m really not kidding, she tells people to do things that are going to set them up to be at incredible risk to the stock market and leave the bulk of their net worth exposed. Now of course with financial firms sponsoring her show she is not going to say institutional investors suck, I get that. But after reading the attached article I realized what the problem really is. Suze doesn’t know any better.
In this New York Times article Suze talks about her greatest concern is that she and her life partner Kathy will be taxed 50% when they leave their fortunes to one another. She is worth at least 25 million which means she has at least a 12.5 million dollar problem. The problem is completely fixable by changing how they hold their assets and/or funding the right type of insurance policy to pay out 12.5 million or more tax free for a fraction of the cost. Damn Suze are you kidding? You knew that right? Suze also goes on to say that she has all her money in zero coupon bonds that are insured, not a bad choice especially since she went the extra step of having them insured but Suze tells people everyday to max out their 401k(invest in the stock market) but she only puts money she doesn’t care if she loses there.
Read the article, those are her words not mine. Lets not even talk about the 7 million dollars in mortgaged real estate that she has.
Why is she telling people everyday on her show to pay the house off when she does the opposite. C’mon Suze, your advice is almost as bad as Kramer on Mad Money! LOL please read the attached article:http://www.nytimes.com/2007/02/25/magazine/25wwlnq4.t.html I hope to see you Saturday for a great workshop that will help you really understand whats going on.