Devil's advocate: Ignore personal-finance experts

re: Devil's advocate: Ignore personal-finance experts

Lisa — Sun, 03 May 2009 19:14:10 GMT

I'm a personal finance blogger (www.moneyinreallife.com) and agree with the writer, but not with the tone or the timing. It's easy to say Orman didn't predict the fall, when neither did MSN.com. Real people figured it out a long time ago, but where else were we going to put our retirement funds? I sold my house before the crash -- goodness, who couldn't see that price bubble popping?

But personally, I enjoy it Suze tells someone with a $20,000 a year income that they shouldn't expect to buy a $200,000 home... Nobody else with a bit of credibility has had the gumption to do that.

re: Devil's advocate: Ignore personal-finance experts

JJ — Sun, 03 May 2009 11:29:00 GMT

Disagree. You can learn a lot from them. You can become aware of ideas and pitfalls you would not otherwise know of. You can learn what questions to ask of your own experts, advisers and brokers. If you are so dumb as to believe there is not an entertainment element involved with these media tycoons, or that their mass market messaging is personalized for your situation,-- if you can't do your own research, if you're a sheep, basically, then you need to wake up.

re: Devil's advocate: Ignore personal-finance experts

Cami — Sun, 22 Mar 2009 17:19:29 GMT

I have read books from all three of these authors (and numerous others) and my opinion is that you take the general good that you can from their advise and leave the rest. Kind of what you do with the advise from everyone else in your life. Personally, I have had some very good things happen when following certain advise, but common sense is "this is general advise for the masses" I have never assumed it was for exactly my situation. Personally I dont care for Orman - I like Bach the best of these three. But again - Taking the basic advise (set up savings, start a retirement plan, pay off debt, get an emergency fund etc) is good advise for everyone. If I need more exact advise - I see a "real life" financial consultant who can sit and view my personal situation. Tho I didnt care much for Kiyosaki, and couldnt care less about Orman.. I think Bach books have been good for helping people know the steps to starting their financial independance.

re: Devil's advocate: Ignore personal-finance experts

Ole Holsti — Sun, 15 Feb 2009 17:41:57 GMT

Yes, distrust all these folks. Be especially wary of those who peddle their wares on the internet. Case in point: The folks at Bankstock.com for a long time flogged Marblehead, the college loan company, helping to drive it up into the 50s. It has then collapsed and they no longer answer questions about the company.

re: Devil's advocate: Ignore personal-finance experts

Eric — Thu, 12 Feb 2009 17:09:29 GMT

I have to give Dave Ramsey a partial pass. At least his entire premise is about living below your means, getting out of and staying out of cunsumer debt. Much of what he touts is basic common sense. However, common sense is a charactersitic sorely lacking inour society today.

re: Devil's advocate: Ignore personal-finance experts

Eddie — Thu, 12 Feb 2009 06:54:45 GMT

I have wondered why people have not figured this out until now. Capitalism is just another word for Greed, Go back and check your History Channel. All these so called experts, financial guru's and Wall Street big shots don't give a damn about main street because they believe greed is good and so what if millions of people loose everything they have so long as they get theirs. If Wall Street failed today , here's what would happen, Billionaires would become millionaires, millionaires would become middle class (god forbid) and those in the middle class would probably do a lot better, but because financial experts have such a vested interest in wall street they will say or tell the taxpayer, the consumer, and the small investor anything to protect their profits. They could care less about this country, after all if they did care we would not be in this mess.

re: Devil's advocate: Ignore personal-finance experts

BO — Thu, 12 Feb 2009 05:28:27 GMT

I say find your nitch to make your cash and invest in what works for you. Dont be led be a leader. Getsome, make it happen, its exciting to create sh*t. Its also exiting watching suceed. Finance experts are like the goverment they beat around the bush until you give them money.period.

re: Devil's advocate: Ignore personal-finance experts

Debbie Morgan — Thu, 12 Feb 2009 05:12:42 GMT

Thank you, thank you, thank you, for voicing exactly what I have been thinking about Suzie Orman. I use to like her and then she change to a judgemental analyst instead of a financial advisor. I know why I'm in the situation I'm in and thankyou very much would like to make another choice and get myself out of the financial hole I got myself in without a lecture!

Humble Me in Oregon....Debbie

re: Devil's advocate: Ignore personal-finance experts

Shawn — Thu, 12 Feb 2009 04:18:32 GMT

"What about the other so called guru Dave Ramsey, He even has a disclaimer that his advice is not the right one on his website. But he badmouth everybody else that offer help to people, because he wants to sell his stuff."

You really should listen to Dave Ramsey for more then 2 minutes. His advice is from the Bible and from being broke himself. He takes a much slower approach to it then most of these other gurus and hasn't changed his advice in 20 years because it still works. How many other people or gurus can say that?

re: Devil's advocate: Ignore personal-finance experts

Paula — Thu, 12 Feb 2009 04:07:05 GMT

Suze Orman's advice is basic common sense that people just didn't learn growing up.

Of course you have to use your own judgement. It's ultimately your responsibility.

Imagine that!