Rating: Summary: Not bad - Original was better Review: I like this book and am giving it 3 stars based on some good content. I like the fact that Suze mixes self help with personal finance. Without the proper mindset, nothing else matters.As another reader said, there is more to personal finance than savings and credit and I really don't agree completely with her on some of her advice.Suze says it's better to pay off your credit cards in any other way than a home equity line of credit. She claims it's not worth risking your home over. Where I live, if you are in arrears on any credit accout, including charge cards, creditors will put a lien on your home. In my area, our newspaper publishes this every week.On invesing, I definitely disagree on two items. Suze says to stay away from options. When asked about options on TV she refused to talk about them, said they were too risky. Hmmm? How about buying puts and writing covered calls to protect your positions? I bet a lot of investors wished they had bought puts or written covered calls on, instead of buying the QQQ's that Suze was pushing so hard in January 2001. Someone asked her about a aggressive mutual fund called the Pro Funds Ultra Fund--a Nasdaq trackig fund. She didn't like it and said it wasn't for the faint of heart. But I suppose buying the QQQ's and $68 and watching it slide to $30 in less than three months is okay for cardiac people huh???Her "buy and hold" and "dollar cost averaging" concepts are okay if you have a long horizon, but recent market conditions shows that that theory is as flawed as not using home equity to pay off debts.I also disagree with Suze that all debt is bad. I invest in real estate carrying as big a mortgage as possibleand use margin on stocks. It works well for me.Suze is very good. Certaintly much better than say Jane Bryant Quinn and she pushes Edelmen, but when she is one TV and has viewers asking serious questions, before giving out what could be bad advice, someone from CNBC should put a piece of duct tape over her mouth before she makes a fool out of herself.Larry King corrected her once on his show when she incorrectly advised acaller to buy bonds.And one more point. Why does Suze use titles from other authors? The Courage To Be Rich was originally written by Mark Haroldsen back in 1983 (a much better wealth book by the way). Road to Wealth was originally authored by Robert G. Allen.Otherwise, decent books. Personally, I think Suze lost her steam after 9 Steps and You Earned it Don't Lose It.And CNBC anchors, next time Suze is on to answer questions and investment questions come up, get the duct tape ready!!!!
Rating: Summary: General advice as well as specific explanations Review: The beginning of this book provides you with quite a bit of food for thought. This will help you rethink your feelings about money. I found this very helpful. Anyone would benefit from this.The next few parts of the book discuss how you can protect your money if you are struck with a death in the family, a divorce, or an accident. For each of these, she gives you either her personal story or another person's story to help illustrate what she means. She discusses the law involved and what you can do. In the next part, she discusses buying a home and investing. For these two parts, the text is less easy to read. There are a lot of numbers and terms that may throw you off. She does mention if her previous books cover the information in more detail. Although she still gives some stories, these sections do not read like the previous. For instance, the section on IRAs is made up of questions and answers. Why the difference? It makes this section appear like an afterthought. It is still some useful information. Do not try to read it all in one sitting. The end of the book discusses charitable contributions. This is not to discuss tax implications but refers back to the beginning by helping you to think positively about yourself and money. I would recommend this book for anyone deciding to get serious about finances.
Rating: Summary: Winning Philosphy Review: Suze Orman gives a success philosophy that many fortune builders need. She makes it seem very simple. A must have book
Rating: Summary: Calm Down, Suze Review: One of the worst audio tapes I've listened to. At times, Suze Orman is yelling each word and it sounds as if each sentence ends in an exclamation mark. It's especially obvious since the tape/book is done in a question & answer style and the people asking the questions are speaking in a normal tone of voice. It's been a few years since I've read her other books, but this seems to be a repeat of previous information, just presented in a question & answer format. It also includes odd advice on personal matters, like dealing with divorce, death of a loved one, etc. I know these are related to financial situations, but I expect Suze Orman to give her opinion on the financial side of a situation, not the emotional side.
Rating: Summary: Outdated Material Review: Suze Orman has many good ideas and interesting stories. However when I got to the mortgage and real estate section, (being in the mortgage business for 13 years), I was shocked to see her information was about 10 years old. Which makes me wonder if she's just writing the same book over and over. After seeing her bestsellers and seeing her on public television I was quite disappointed.
Rating: Summary: A guide to financial responsible behavior Review: I especially liked the first section, acts of courage. Even if you financial life isn't in disarray, and if the amount of dept you have is very limited, there is much emotional intelligence in this section, and its messages are worth thinking about: The author shows how negative emotions as shame, guilt, fear and anger influence bad financial decisions, she shows how negative thoughs and words, in combination with lack of goal oriented thinking may stop us from achieving what we want. She shows how material clutter doesn't do much good neither and hert advice to walk through your house and look for items you do not longer use and other stuff that is "just filling closets" is something that too many people suffer from. Just applying this first section might pay back for the book. As for section 2, marketeers won't be happy, but some of the advice is well worth considering. For instance, an exercise in Chapter 4 makes you consider this as: "How much money would you save if you drove your car one extra year? And waited one more year to upgrade your computer? Or to redecorate that room in your house?" As the author is right to state, many people are trying to "keep up with the Jonesses" and are envious if their neighboor seems to be living in better financial conditions. The same section tackles the issue of credit card debt, a problem that is quite common is one looks at macro economic figures but a dept that often is doing a lot of damage to people's self-worth. For non-US readers: some of the practical advice is US-centric. I have no use of 401k plans, US divorce and social systems, I don't have to pay taxes in the US, I do not have to save to pay the college or education of my kids, I'll be able to "survive" on my retirement money, etc. (thank god I live in Belgium, and that our social system takes care of all that!) The title is a bit too much hype to my taste. That's why this book lost a star. Yet, there is some thruth in it. Another book that contains similar lessons is "The Millionaire Next Door" by Stanley and Danko. They came to these conclusions by studying millionaires. Their book preesents their findings, whereas Orman's book is more practical. Patrick E.C. Merlevede, MSC -- co-author of "7 Steps to Emotional Intelligence"
Rating: Summary: Common sense Review: This book was filled with ideas and suggestions that are common sense for the average person. A great read for someone who is very financially undisciplined but for myself I already am financially stable...forgive me if I'm wrong but isn't the title "The courage to be Rich"? This book was written under the assumption that its readers are complete idiots and have no money management skills! A better title for this book would be "Idiots guide to personal finances"!
Rating: Summary: Peace of Mind and Self Actualization is the Key to Life Review: I work for a large federal government agency that deals with the lives of many people in many circumstance and life threatening situations. The majority of the employees are either cynical or burnt out. Suze is right. Self esteem and self actualization is the key to any endeavor in life. Her genuineness shows through in the words that she chooses. Positive thinking is everything. I am one of the very few who enjoy my relationshp with the people I assist. Her thoughts apply to all aspects of life, not just money.
Rating: Summary: Broke the credit card habit-Thanks Suze Review: Before reading Courage to Be Rich and 9 Steps to Financial Freedom, I was up to my ears in debt and desperately needed plastic surgery.I made a stupid mistake, getting deeply in debt with the two worst wealth busters: First USA and Providian with interest rates of up to 25% (Providian).I used the advice as Suze advised saving myself over $7,000 in interest. By following the advice as espoused by Suze, I cleaned up all three of my credit reports clearing incorrect information. I am know more financially educated and know what to look for in credit card companies and who to avoid-First USA and Providian.Thanks Suze. I'm now back on track, debt free and investing for the future.Suze's advice may be common sense, but is not common knowledge. I'm now sharing these ideas with in home clinics and produced a flyer that says "Break the Credit Card Habit."Our goal is to stamp out financial ignorance, particularly among ripoff credit card offers.
Rating: Summary: Jump-start book for managing money. Review: Ms. Orman gets me started in thinking about my money. I rated myself as good in money management skills, i.e. satisfied with what I did with my money and how I kept myself debt-free, and still can learn from what she has to offer. So many times I overlooked the emotional factor in dealing with money. Ms. Orman candidly explained the reality how money and emotion are deeply connected and how it can affect our preception towards money and other people. Ms. Orman also includes some basic tips in investments, home buying, retirement and a bit on the tax side. This book gives me a jump start that I need to start thinking and managing my money better and encouragement to start doing my own research. Since this book is very basic, I would highly recommend this for those who has no clue of what to do with their money. It is easy to read without many confusing jargons.
|