She was a waitress. Then she went to work for a financial company. From there, she made her career selling trinkets to people, from advising not to buy a car, then promoting one for them, then advising not to use a debit card because it wouldn’t create any FICO score to…well…to promote her own debit card because it would. Did she prey on unsuspected individuals? Let history tell the end of the story.
She answers to a caller: Caller says she is disappointed at the market. Suze responds very clearly that if she were her, she would invest, given a fictitious number of $120K, well, $10K a month for 12 months. That’s a good advice, right?, but Suze has $25M in liquidity, so, why didn’t she invest that money in the market if she is suggesting others to do so?
She owns RE for $7M at that time, I am not sure if all paid for. She “saves” her money? She buys municipal bonds if they are triple rated??? Speaking of savings, in the investment world, people with $ millions sitting in the bank are not called smart people, that’s for sure.
Financial advisors/advisers, all sell a product, same as Schwab and Fidelity and so on they live out of OPMs, “other people’s money”.
401Ks, IRAs, life insurance, Roth, all have a purpose, a benefit, a retirement purpose, but those who can’t see the advantage of all because they think they are making it good on their preferred program are either envious or ignorant of their benefits. It is normal to distrust anything else that doesn’t fit their shoes. They don’t know, that same as themselves stuck to their favorite type of investment, what they distrust or they criticize is not an “it fits all sizes”. IULs for example, benefit others who see it as a different way, a conservative way of managing their money. They are in control all the time, except they pay a fee for cost of insurance. They can put an excess premium, or they can’t. They can loan money, or they won’t. Can they do that with a 401K? That’s all!
All and all, the thing to be seen is when the market crashes, or at the retirement age. Who is going to be laughing about the results is the goal. Those people, conservative enough, no matter if a 401K or an insurance policy within an IUL, or RE investors knowing the game will laugh it out. Some more, some less, it all will depend on who lost the most, if any losses at all.
And if they die of a heart attack, or commit suicide after losing all or half of their hard earned money, will their beneficiaries benefit from their death?
Will the money left be enough to pay their mortgages and so on? For how long?
That answer will depend on who is in charge and who is married and care for their wife and children. And those who are old enough to not care about it, or don’t care about anybody else are the first ones to call something they don’t understand a “criminal action” while feeding those who perpetrated the financial crisis years ago.
Meanwhile, the people managing their transactions and earning good %s are laughing on their way to the bank.
I judge a person, for what I know about a person like her, not the perceived idea that she is what is not. People should learn that principle, to not accuse nor judge others of something they themselves don’t understand. It is ignorance 100%.
Since her record indicates she didn’t graduate in anything related to economy, her career is full of first steps and mistakes. We all go through that, but I wouldn’t call her a fraud because I know she was promoting or selling a product or an idea.
Fraud is when you deceive others for your own gain. And the act has to be of a criminal intention, to deceive, to gain over the unsuspected individual.
Nothing is free in this world. You pay one way of the other. Except you don’t or may not know it, but you may be paying more than what you think. A good Google search on “fees” on anything will help. Oh, by the way, I brought one from David McNight as an example.