Ok, where does Suze Orman get off? (Well, I mean the train apparently left the station) A caller from CA calls in, her dad has whole life insurance, he purchased $100K DB at age 50, he pays $300 per month. He is now 75. His daughter stated he had $25K and the -wait Suzy says, "Let me guess, now this (and in a snide voice) this Agent wants him to put it in an annuity, right?' Then proceeds to talk about how he should have purchased term insurance at 50, and could have gotten the same face amount for 1/10th....(mmm, I'm thinking not). He has missed out on (by her calculations) $17K in a saving account if he'd gotten 5% over that time; Her suggestion, get out of the policy and put 25K in a CD....I'm thinking, yeah but if he dies, there is the inheritance tax etc. etc. heirs lose 1/3. I think Mark had talked about a single premium life insurance policy....
Suze makes me throw up a little in my mouth when I watch her.
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Clint Miller
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Ok, where does Suze Orman get off? (Well, I mean the train apparently left the station) A caller from CA calls in, her dad has whole life insurance, he purchased $100K DB at age 50, he pays $300 per month. He is now 75. His daughter stated he had $25K and the -wait Suzy says, "Let me guess, now this (and in a snide voice) this Agent wants him to put it in an annuity, right?' Then proceeds to talk about how he should have purchased term insurance at 50, and could have gotten the same face amount for 1/10th....(mmm, I'm thinking not). He has missed out on (by her calculations) $17K in a saving account if he'd gotten 5% over that time; Her suggestion, get out of the policy and put 25K in a CD....I'm thinking, yeah but if he dies, there is the inheritance tax etc. etc. heirs lose 1/3. I think Mark had talked about a single premium life insurance policy....
Suze makes me throw up a little in my mouth when I watch her.
She is a television celebrity who knows very little about insurance. If the guy's dad follows that advise she should be sued.
Ok, where does Suze Orman get off? (Well, I mean the train apparently left the station) A caller from CA calls in, her dad has whole life insurance, he purchased $100K DB at age 50, he pays $300 per month. He is now 75. His daughter stated he had $25K and the -wait Suzy says, "Let me guess, now this (and in a snide voice) this Agent wants him to put it in an annuity, right?' Then proceeds to talk about how he should have purchased term insurance at 50, and could have gotten the same face amount for 1/10th....(mmm, I'm thinking not). He has missed out on (by her calculations) $17K in a saving account if he'd gotten 5% over that time; Her suggestion, get out of the policy and put 25K in a CD....I'm thinking, yeah but if he dies, there is the inheritance tax etc. etc. heirs lose 1/3. I think Mark had talked about a single premium life insurance policy....
Suze makes me throw up a little in my mouth when I watch her.
Clint,
what inheritance tax does this guy have to pay. it sounds like he has no money.
also, even if he does have to pay an inheritance tax, how would having an annuity avoid the inheritance tax?
The closest I've found is in whole life @ guaranteed 4% by contract - not including dividends?
The caller is the daughter of the Dad. Didn't the caller mention that Suze is saying to take away $75k of her own inheritance on the policy?
I also agree that there would be no inheritance tax as this sounds like someone who would be pretty much broke.
Suze is very good at self-promotion of her books and "trust" kits, FICO kits, etc. Who funds her show? Who benefits from her "unbiased" advice? Who is trying to separate a client from a trusted advisor or insurance agent? Who is trying to paint us all with a brush that we're all criminals? (I mean, besides FINRA.)
Anybody who wants to listen to Dave Ramsey or Suze Orman to be their advisor has just disqualified themselves from my services. Period. End of story. NEXT!
She should be sued!! That would shut her up. Like it did Charles Givens
I believe what shut Charles Givens up was prostate cancer; he died in 1998.
Charles was sued as a result of selling educational material with deceptive refund policies. Almost impossible to get a refund, and several Attys Gen'l took him to task over the practice. Comparing these two is like an apple and an orange.
As for Suze O, what would one sue her for...? I believe that the disclaimers before, during and after the show are sufficient to cover her from any liability of recommendations. Sounds casual to mention that she should be sued, but that isn't liklely to happen, and if it did the Plaintiff would be laughed out of court; (even if she does give BAD advice).
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"A fool flatters himself, a wise man flatters the fool"
Edward Bulwar-Lytton (1803-1873)
I sometimes use Suze in seminars and even wave one of her books around.
The nice thing about her is that she has so much conflicting and often inaccurate stuff, that you can actually find a good quote most of the time that fits exactly the point you want to get across to an audience. Most people love her. For example, if I want to attack variables:
"Q. My adviser told me I should get a variable annuity for my IRA. What should I do?"
I sometimes use Suze in seminars and even wave one of her books around.
The nice thing about her is that she has so much conflicting and often inaccurate stuff, that you can actually find a good quote most of the time that fits exactly the point you want to get across to an audience. Most people love her. For example, if I want to attack variables:
"Q. My adviser told me I should get a variable annuity for my IRA. What should I do?"
"A. Get yourself another adviser, pronto!"
u r a wise man.
Last edited by GonnaFlyNow : 08-31-2009 at 10:19 PM.
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