Author Topic: Oh Suze...  (Read 11504 times)


Inaya

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Re: Oh Suze...
« Reply #1 on: October 23, 2017, 10:24:29 AM »
The funny thing is, if I never saved another penny and just let my current savings grow in index funds, I could still retire at 60 quite comfortably.

She is right about healthcare being a crap shoot, though. And about waiting to draw SS.

paddedhat

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Re: Oh Suze...
« Reply #2 on: October 23, 2017, 10:59:18 AM »
She is on my short list, with the likes of Nancy Grace, Joel Osteen, and a few others. If I see them appear on a screen, my goal is to click away before the noise starts coming out of their mouth. Seriously, zero interest in anything she has to say. 

fattest_foot

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Re: Oh Suze...
« Reply #3 on: October 23, 2017, 11:00:14 AM »
The funny thing is, if I never saved another penny and just let my current savings grow in index funds, I could still retire at 60 quite comfortably.

She is right about healthcare being a crap shoot, though. And about waiting to draw SS.

Wow, that's a fun experiment. Looks like if I stopped contributing completely we could still feasibly retire before 50. If we waited until 60 it would be a quite lavish retirement.

MrMoneyMaxwell

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Re: Oh Suze...
« Reply #4 on: October 23, 2017, 05:12:50 PM »
I just saw this on my daily news binge and wanted to vomit.

KodeBlue

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Re: Oh Suze...
« Reply #5 on: October 25, 2017, 06:38:54 PM »
Suze's batshit crazy.

Just Joe

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Re: Oh Suze...
« Reply #6 on: October 26, 2017, 09:14:01 AM »
How does the group feel about Clark Howard? I've only watched his clips a few times. Nothing too outlandish in what he said during those three clips.

Dezrah

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Re: Oh Suze...
« Reply #7 on: October 26, 2017, 01:54:33 PM »
I miss Suze.

She's was a big influence in my personal finance journey.  Honestly, I suspect I like her for the same reason so many people can't stand her.  I love her overly excited "you go, girl", her spray-tanned and whitened teeth, her flashy graphics and simplified breakdown of the numbers.

And frankly MMM's facepunches are gentle taps compared her to beat downs.  I saw an episode where she told a family their situation was so dire that they should go ahead and pursue bankruptcy, slash their budget, get second jobs, AND have their teenage kids work weekends to support the family.  Ouch.

Knowing what I know now, yeah she's pretty conservative (and obviously too obsessed with credit scores) but it's great advice for beginners.  At this point though she's been off the air long enough that the only people who would bother listening to what she says are former fans/haters

Just goes to show, diversity in the personal finance is a great thing to draw people in.  Suze Orman for us weirdos, Dave Ramsey for church folk, MMM for hipsters, Robert Kiyosaki for dreamers, etc. 

Not Your Monkey

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Re: Oh Suze...
« Reply #8 on: October 27, 2017, 09:53:15 AM »
Just goes to show, diversity in the personal finance is a great thing to draw people in.  Suze Orman for us weirdos, Dave Ramsey for church folk, MMM for hipsters, Robert Kiyosaki for dreamers, etc.

I love this!

I also miss Suze and her tough love beat downs. Her advice is pretty sound for the majority of people who seem completely clueless about personal finance. A great start anyway!

ysette9

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Re: Oh Suze...
« Reply #9 on: October 27, 2017, 11:14:03 AM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

boarder42

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Re: Oh Suze...
« Reply #10 on: October 27, 2017, 01:33:39 PM »
The funny thing is, if I never saved another penny and just let my current savings grow in index funds, I could still retire at 60 quite comfortably.

She is right about healthcare being a crap shoot, though. And about waiting to draw SS.

Wow, that's a fun experiment. Looks like if I stopped contributing completely we could still feasibly retire before 50. If we waited until 60 it would be a quite lavish retirement.

yep we're looking at 45(ultra conservative) bc i technically can stop my own contributions but i have to account for my employers. but using normal growth number we're really looking at 40 if we stopped contributing today

libertarian4321

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Re: Oh Suze...
« Reply #11 on: October 28, 2017, 03:26:45 AM »
I miss Suze.

She's was a big influence in my personal finance journey.  Honestly, I suspect I like her for the same reason so many people can't stand her.  I love her overly excited "you go, girl", her spray-tanned and whitened teeth, her flashy graphics and simplified breakdown of the numbers.

And frankly MMM's facepunches are gentle taps compared her to beat downs.  I saw an episode where she told a family their situation was so dire that they should go ahead and pursue bankruptcy, slash their budget, get second jobs, AND have their teenage kids work weekends to support the family.  Ouch.

Knowing what I know now, yeah she's pretty conservative (and obviously too obsessed with credit scores) but it's great advice for beginners.  At this point though she's been off the air long enough that the only people who would bother listening to what she says are former fans/haters

Just goes to show, diversity in the personal finance is a great thing to draw people in.  Suze Orman for us weirdos, Dave Ramsey for church folk, MMM for hipsters, Robert Kiyosaki for dreamers, etc.

Orman is like most financial "gurus"- that includes Kiyosaki and Ramsey- fine for helping the utter financial basket cases get some sort of grip on their financial life, but aside from that, pretty useless.  Whether they reach the clueless with "Jesus" (Ramsey), "you go girl" BS (Orman), or fake "rich dad" stories (Kiyosaki), I guess it's good that they get some of the financially hopeless and helpless on the right path.

But anyone with any level of sophistication will soon find themselves rolling their eyes at the hyperbolic nonsense any of these folks spews.




TexasStash

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Re: Oh Suze...
« Reply #12 on: October 28, 2017, 12:52:03 PM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

#humblebrag


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Tuskalusa

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Re: Oh Suze...
« Reply #13 on: October 28, 2017, 01:02:41 PM »
I love Suze. Money Magazine did a great profile on her in their latest issue. She seems to want to scream some sendse into people who are one disaster away from financial ruin. Good advice. Too basic for MMM, but great for beginners.

MrMoneySaver

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Re: Oh Suze...
« Reply #14 on: October 28, 2017, 03:17:20 PM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

#humblebrag


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Which part was humble?

TexasStash

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Re: Oh Suze...
« Reply #15 on: October 29, 2017, 11:07:06 AM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

#humblebrag


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Which part was humble?

https://www.google.com/amp/s/www.urbandictionary.com/define.php%3fterm=humblebrag&amp=true



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BTDretire

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Re: Oh Suze...
« Reply #16 on: October 29, 2017, 08:53:35 PM »
Just a few negative Youtube videos about Suze!

https://www.youtube.com/results?search_query=suze+orman+scammer

libertarian4321

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Re: Oh Suze...
« Reply #17 on: October 30, 2017, 05:11:19 AM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

#humblebrag



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Which part was humble?


https://www.google.com/amp/s/www.urbandictionary.com/define.php%3fterm=humblebrag&amp=true


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Yeah, that qualifies as a humblebrag.

Much better to just say it like Dave Chapelle-  "I'm rich, biatch!"

solon

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Re: Oh Suze...
« Reply #18 on: October 30, 2017, 05:28:18 AM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

#humblebrag



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Which part was humble?


https://www.google.com/amp/s/www.urbandictionary.com/define.php%3fterm=humblebrag&amp=true


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Yeah, that qualifies as a humblebrag.

Much better to just say it like Dave Chapelle-  "I'm rich, biatch!"

I think the point was that it is NOT a humblebrag, it's just a brag.

MrMoneySaver

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Re: Oh Suze...
« Reply #19 on: October 30, 2017, 06:23:19 AM »
Quote
I think the point was that it is NOT a humblebrag, it's just a brag.

Exactly.

Captain DIY

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Re: Oh Suze...
« Reply #20 on: October 30, 2017, 07:06:06 AM »
Before my wife fell and hit her head really hard and was therefore reduced to listening to podcasts as entertainment for a month, we actually read Suze and thought she knew stuff. After the aforementioned fall, which led to my wife's discovery of the FI community, we have now realized what a mess articles like this are. Thanks MMM, Mad Fientist, Choose FI and all the rest!

ysette9

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Re: Oh Suze...
« Reply #21 on: October 30, 2017, 02:29:30 PM »
Quote
    I think the point was that it is NOT a humblebrag, it's just a brag.

Exactly.

yes of course, it's a combo brag plus commentary on how ridiculous her advice is, which is the whole point of this thread, yes? Frankly, I don't see how it is more brag-y than saying you'll be FIRE by 40 or 45, but maybe that is just me.

boarder42

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Re: Oh Suze...
« Reply #22 on: October 30, 2017, 02:55:53 PM »
Quote
    I think the point was that it is NOT a humblebrag, it's just a brag.

Exactly.

yes of course, it's a combo brag plus commentary on how ridiculous her advice is, which is the whole point of this thread, yes? Frankly, I don't see how it is more brag-y than saying you'll be FIRE by 40 or 45, but maybe that is just me.

not braggy in the least.  showed exactly what you said and thats what we do around here put numbers to madness.. mulitple people up thread including myself thru my own numbers at it to disprove the ridiculous statements made.

Travis

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Re: Oh Suze...
« Reply #23 on: October 30, 2017, 03:20:43 PM »
Before my wife fell and hit her head really hard and was therefore reduced to listening to podcasts as entertainment for a month, we actually read Suze and thought she knew stuff. After the aforementioned fall, which led to my wife's discovery of the FI community, we have now realized what a mess articles like this are. Thanks MMM, Mad Fientist, Choose FI and all the rest!

With folks like her and Dave Ramsey I think their advice goes something like this:

"Don't go into debt!"
"If you go into debt, get out as soon as possible!"

After that they're now out of their own area of expertise and need to find something else to say to stay relevant and paid which leads to bad and sometimes unethical advice.

Megma

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Re: Oh Suze...
« Reply #24 on: October 30, 2017, 03:34:28 PM »
Did anyone else see the slide show at the bottom called "the downsides of retirement nobody talks about"? Is the workforce so small that people need to be scared out of trying to retire?

aceyou

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Re: Oh Suze...
« Reply #25 on: October 30, 2017, 07:44:17 PM »
Just read the article yesterday at my mother-in-laws. 

Not impressed.  She's painting with some pretty broad strokes with so many of her statements. 

TexasStash

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Re: Oh Suze...
« Reply #26 on: October 30, 2017, 08:59:40 PM »
Quote
I think the point was that it is NOT a humblebrag, it's just a brag.

Exactly.

The false humility at the end makes it a humblebrag. But now that we have taken my sarcasm far too literally...


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ysette9

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Re: Oh Suze...
« Reply #27 on: October 30, 2017, 09:31:13 PM »
You read false humility, I was shooting for sarcasm. There is the challenge of reading tone into mere words printed on a screen.

dogboyslim

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Re: Oh Suze...
« Reply #28 on: October 31, 2017, 06:31:59 AM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

That puts you at 35ish with $3.1M, 30 with $2.3M or 50 with $7.4M  Not bad.  Delaying SS is about understanding your health at age 60.  If you are likely to die before about 80, collect early.

ysette9

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Re: Oh Suze...
« Reply #29 on: October 31, 2017, 04:04:42 PM »
I was including future contributions equal in dollar amount to what we are doing annually, so no, we donít have quite as much as your calculations suggest. Still, nothing to complain about.

TexasStash

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Re: Oh Suze...
« Reply #30 on: October 31, 2017, 08:11:55 PM »
You read false humility, I was shooting for sarcasm. There is the challenge of reading tone into mere words printed on a screen.

Just to be clear I wasn't annoyed or thinking you were a jerk. I found your comment funny and made one of my own.


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SugarMountain

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Re: Oh Suze...
« Reply #31 on: November 07, 2017, 04:09:52 PM »
Did anyone else see the slide show at the bottom called "the downsides of retirement nobody talks about"? Is the workforce so small that people need to be scared out of trying to retire?

I read the click bait.  It wasn't horrible. Make sure you plan to live to 90+, think about long term care, have a plan for what you want to do in retirement. 

Dicey

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Re: Oh Suze...
« Reply #32 on: November 07, 2017, 04:26:31 PM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

#humblebrag

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1. It ain't humblebragging if it's the truth.
2. One could easily draw the same conclusion from your easily removable iPhone ad that's tagged onto everything you post here, there and everywhere. Say Tap-a-what?
3. As ysette9 says downthread, she was aiming for sarcasm.
4. In case you have any doubt, I'm aiming for a very gently chiding, humorous tone.

Back on topic, occasionally paddedhat and I do not see exactly eye to eye. Not in this case. Perfect aim, sir. Well said.

TexasStash

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Re: Oh Suze...
« Reply #33 on: November 08, 2017, 06:39:24 AM »
1. It was a joke. Let it go.
2. Thanks for pointing that out. I just started using Tapatalk and had no idea it was adding that.


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TexasStash

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Re: Oh Suze...
« Reply #34 on: November 08, 2017, 06:41:24 AM »
Signature removed. Hopefully you didn't actually think I would brag about an iPhone on MMM forums

Nick_Miller

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Re: Oh Suze...
« Reply #35 on: November 08, 2017, 07:10:58 AM »
I read the article this weekend.  I don't think it's realistic in today's world for most people to work until age 70. Either your body goes out, or your mind, or it just gets harder and harder to keep up with tech innovations, or it just gets harder to get rolling out of bed in the morning, or employers plain don't want/need you (you're too expensive, too much of a workers' compensation claim risk, not able to connect with clients, etc)

http://www.independent.co.uk/news/uk/home-news/workers-over-40-perform-best-with-three-day-week-25-hours-melbourne-institute-study-a6988921.html

Hell, there's apparently evidence that even 40-somethings should be working only PT hours to increase health.

I guess this all supports MMM's "kick ass when you're young and get out of the rat race" approach.





Dicey

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Re: Oh Suze...
« Reply #36 on: November 08, 2017, 07:22:02 AM »
1. It was a joke. Let it go.
2. Thanks for pointing that out. I just started using Tapatalk and had no idea it was adding that.
1. So was mine. Let it go, embrace it, do whatever floats your boat!
2. I think that's true of most people. Though it's been discussed here before, the approximate same number of people don't know it's easy to vanquish. The more who know, the less free advertising we give away.
3. ysette9 is one of my favorite members. I trust her input. Therefore, I may have been just a touch defensive on her behalf. Not that she needs my help ;-)

ysette9

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Re: Oh Suze...
« Reply #37 on: November 08, 2017, 03:19:48 PM »
Quote
ysette9 is one of my favorite members. I trust her input. Therefore, I may have been just a touch defensive on her behalf. Not that she needs my help ;-)

Awwwww ~blush~

clarkfan1979

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Re: Oh Suze...
« Reply #38 on: November 25, 2017, 11:40:48 AM »
How does the group feel about Clark Howard? I've only watched his clips a few times. Nothing too outlandish in what he said during those three clips.

I love Clark Howard! Notice my screen name?

Clark is more of a consumer advocate. He helps people avoid getting ripped off by scams. He is also a saver, but the show really isn't about saving. It's about buying products that are worth your hard earned money.

My wife worked for a financial planner for about 1 year. My wife stopped working for her because of her ethics. She was mostly concerned with putting people into investments with the highest commission. The financial planner asked me what type of financial tv personality I follow.

She said: "Do you follow Suze?"
Me:  "I have seen her show, but don't really follow her."
She said:  "Oh, you are a Dave Ramsey guy."
Me:  "I am familiar with his principles. I read his book, but I actually do the opposite of what he recommends."
She said: "Who do you follow then?"
Me: "Mr. Money Mustache, but you probably haven't heard of him."
She said: "I have not, who else?"
Me: "Jack Bogle"
She said: "Never heard of him"
Me: "Ever hear of Vanguard?"
She said: "Yes"
Me: "He is the guy that started Vanguard"

This is coming from a financial planner. However, why would someone know anything about Vanguard if they are mostly concerned with funds that have large front-loaded fees.

Travis

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Re: Oh Suze...
« Reply #39 on: November 27, 2017, 01:31:51 PM »
How does the group feel about Clark Howard? I've only watched his clips a few times. Nothing too outlandish in what he said during those three clips.

I love Clark Howard! Notice my screen name?

Clark is more of a consumer advocate. He helps people avoid getting ripped off by scams. He is also a saver, but the show really isn't about saving. It's about buying products that are worth your hard earned money.

My wife worked for a financial planner for about 1 year. My wife stopped working for her because of her ethics. She was mostly concerned with putting people into investments with the highest commission. The financial planner asked me what type of financial tv personality I follow.

She said: "Do you follow Suze?"
Me:  "I have seen her show, but don't really follow her."
She said:  "Oh, you are a Dave Ramsey guy."
Me:  "I am familiar with his principles. I read his book, but I actually do the opposite of what he recommends."
She said: "Who do you follow then?"
Me: "Mr. Money Mustache, but you probably haven't heard of him."
She said: "I have not, who else?"
Me: "Jack Bogle"
She said: "Never heard of him"
Me: "Ever hear of Vanguard?"
She said: "Yes"
Me: "He is the guy that started Vanguard"

This is coming from a financial planner. However, why would someone know anything about Vanguard if they are mostly concerned with funds that have large front-loaded fees.

Your next question should have been "What have you heard about Vanguard?"  I'm sure the answer would have resembled "They're the enemy."

When you say you worked for a financial planner, were you an employee of the planner or a client?  Either answer would be valid incidentally...

Check2400

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Re: Oh Suze...
« Reply #40 on: November 27, 2017, 02:58:46 PM »
Just for fun, I calculated that if we kept our current savings amount and compounded at a modest 6% per year until I am 70, we would have 24 million. Would that be enough to cover medical care? Should I also delay SS?

That puts you at 35ish with $3.1M, 30 with $2.3M or 50 with $7.4M  Not bad.  Delaying SS is about understanding your health at age 60.  If you are likely to die before about 80, collect early.


I was including future contributions equal in dollar amount to what we are doing annually, so no, we donít have quite as much as your calculations suggest. Still, nothing to complain about.

OOHHHHHHH! (ok, we can let it die now, but I just figured out how everyone was talking past each other). 

I read it the first way as well, with the current savings amount being = the current amount in our savings. 

But you meant current savings amount = the current annual savings, i.e. if you never increased the amount of money you were saving each year, you would be at $24,000,000. 

Carry on!


ducky19

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Re: Oh Suze...
« Reply #41 on: November 27, 2017, 05:02:04 PM »
I usually roll my eyes whenever I see an article from Suze, but I have to say she actually talks a little bit of sense in this one:

https://www.msn.com/en-us/money/personalfinance/suze-orman-lays-down-the-law-on-cars-and-money/ar-BBFv6b7

"How long do you want to keep your current car?"

"If you said, 'As long as possible,' you get an A+," Orman writes in a recent blog post. "Any other answer earns an F."

I often wonder what the world would be like if everyone drove a 10 year old car...

slugline

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Re: Oh Suze...
« Reply #42 on: November 28, 2017, 09:45:23 AM »
I often wonder what the world would be like if everyone drove a 10 year old car...

I read somewhere that the average age of cars on American roads is 11 years old. So I guess your message would just need to reach about half of the driving public.

WhiteTrashCash

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Re: Oh Suze...
« Reply #43 on: December 02, 2017, 10:50:24 PM »
Suze Orman was the first financial "expert" I read when I came down from Hillbilly Mountain to live among the Flatlanders and she was useful for learning things like: 1.) How do bank accounts work?, 2.) How do loans work?, 3.) How to credit cards work?, 4.) What's an emergency fund?, 5.) What is worth buying on credit and what's a waste?, 6.) What's a 401k?, 7.) What's an IRA?, 8.) How does the stock market work?, etc. All the basic stuff that can be hard to understand when you have never had a person in your life who understood personal finance and the concept of money has always been scary because you've never had any.

Reading Suze Orman led me to the forums on myFICO.com, which led me to reading the money section of Yahoo, which led me to MMM and the forums here. Orman is very, very conservative and often makes grand pronouncements that are the very definition of hyperbole, but she has her uses for certain types of people. The key is learning to move beyond people like her once you get more educated.

Just Joe

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Re: Oh Suze...
« Reply #44 on: December 03, 2017, 10:33:49 AM »
I often wonder what the world would be like if everyone drove a 10 year old car...

I read somewhere that the average age of cars on American roads is 11 years old. So I guess your message would just need to reach about half of the driving public.

I had heard a new car was equal to 10,000 miles of driving pollution wise. This DW-TV video claims more energy/pollution.

http://www.dw.com/en/scrapping-diesel-cars-a-waste-of-resources/av-40884840

TheGrimSqueaker

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Re: Oh Suze...
« Reply #45 on: December 03, 2017, 08:01:28 PM »
Suze Orman was the first financial "expert" I read when I came down from Hillbilly Mountain to live among the Flatlanders and she was useful for learning things like: 1.) How do bank accounts work?, 2.) How do loans work?, 3.) How to credit cards work?, 4.) What's an emergency fund?, 5.) What is worth buying on credit and what's a waste?, 6.) What's a 401k?, 7.) What's an IRA?, 8.) How does the stock market work?, etc. All the basic stuff that can be hard to understand when you have never had a person in your life who understood personal finance and the concept of money has always been scary because you've never had any.

Reading Suze Orman led me to the forums on myFICO.com, which led me to reading the money section of Yahoo, which led me to MMM and the forums here. Orman is very, very conservative and often makes grand pronouncements that are the very definition of hyperbole, but she has her uses for certain types of people. The key is learning to move beyond people like her once you get more educated.

Her principles are also accessible to people who for whatever reason never learned the basics.

bugbaby

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Re: Oh Suze...
« Reply #46 on: December 23, 2017, 11:04:40 PM »
She is on my short list, with the likes of Nancy Grace, Joel Osteen, and a few others. If I see them appear on a screen, my goal is to click away before the noise starts coming out of their mouth. Seriously, zero interest in anything she has to say.
Funny, me too, same 3! It must be the blinding pasted-on smiles alternating with meaningful frowns, accompanying the torrents of tiresome platitudes... I can't even get to the actual message...

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