Why I Don't Like Suze Orman's Advice (Or, Why Variable Annuities CAN Work)

My speaker’s intro includes something about my self-description of being a “recovering financial advisor”. It’s true. I was in the business of giving financial advice for over 8 years, during which I saw some amazingly interesting market events – good and bad.

One of the most consistent things I saw, though, was a number of media-described “experts” on financial matters, who often gave blanket, broad-brushed advice that didn’t always tell the entire story. While I can’t say that everything she has ever said is bad, generally speaking, I don’t care too much for the scrubbed-for-the-lowest-common-denominator-sound-bite-media advice dished out by people like Suze Orman.

First here’s a clip of her somewhat infamous bad call from a show on CNBC from a few years ago. Before the days of YouTube, it circulated among emails of many financial pros as a laughable example of her being called out by a viewer….just note how angry her face gets when she realizes what the screener didn’t screen out….

Then, today, I received an email from an industry trade group with further proof that NO SINGLE INVESTMENT is ALWAYS BAD (or good) – see this article. As the old saying goes, I guess “Every Dog (truly) Has His Day”. Go figure – then, get with a true financial pro to find a plan that works for YOU.