Suze Orman has Lost Touch With Reality

I was just watching a snippet from Suze Orman on how she says to get a 15-year mortgage and "stop wasting money" with a 30-year mortgage.  Has she lost it? 

Well, some things about Suze you should know.  Yes, she is a Certified Financial Planner(R), but she currently is not practicing it.  Also, several years ago, 1998 to be exact, the Journal of Financial Planning reported on their own study comparing the 15 year and 30 year mortgages.  They determined that the 30-year mortgage was the best.

It is important to note that the Journal of Financial Planning is produced by the Financial Planning Association, the association of Certified Financial Planners.  So, Suze is going against her own profession by making these comments, and reality for that matter.

Does what she says makes sense?  For the vast majority of Americans, the answer would be NO.  Forbes Magazine has even had an article saying Suze's advice is not the best for most (December 2004 issue).

So, who should you listen to?  Why not listen to those who are not simply entertainers.  You know, those everyday Americans that have chosen to do things different and became wealthy.  Those which can provide guidance on how you can achieve wealth by changing your thought process and not following conventional wisdom, which is basically what Suze reiterates.

In Suze's defense, her advice is good advice to those struggling to pay their bills or lack discipline to implement better strategies, which may even be you.  But if you are looking to meet your financial goals in a better way, providing for your children's education, other goals or simply more money for your retirement, then stop listening to her and start listening to those who have achieved that.

Comments

[Martin Rodriguez]

I agree whole heartedly.. Suze Ormans goal is nothing more than franchise value for her... ie.. buy my books and pay me to speak at the next convention.

C'mon Orman.. Get Real...