Don't Get Me Started.....
My good friend and mentor Harv Eker taught me some incredibly valuable lessons while I was running Peak Potentials Training.
Most importantly, he taught me that success is rare. It’s rare because it takes tremendous effort and the right systems to achieve something out of the ordinary.
One of the things that I learned is that there are many ways to achieve success. For example, you can achieve financial success in countless ways. There is no one right way.
Over your lifetime, you will be presented with many ways to achieve financial success. For my wife Sue and myself, real estate has been our primary way to achieve financial freedom.
Even with real estate, there are many ways to become financially free. You can do what we did, which was to buy and hold single family homes, rent them out, and over time, let appreciation grow our net worth.
Others buy multi unit dwellings, like duplexes or triplexes. Some buy apartment complexes. Others buy raw land. Still others do lease options. Some build spec homes and sell. Others buy and flip.
Is one method right and all the others wrong? No. You can be successful doing any of these methods.
What I hate is when someone says categorically that their way is right and all others are wrong. Especially when they haven’t become fully informed and simply don’t know all the facts.
Perhaps the worst culprit I can think of when it comes to financial advice is Suze Orman. She dispenses advice to her followers that she doesn’t even follow herself.
Recently, I read an article of hers titled “The five signs of bad financial advice”.
Suze is not an expert in every area of personal finances. Yet, she gives advice on occasion that is so far off base that it borders on criminal.
Among other things, Suze has total disregard for any type of life insurance other than term. She makes sure that she lets everyone know, every chance she gets, that whole life insurance was created exclusively to allow insurance agents to earn a living.
The chances are 100% that Suze has never been introduced to specific strategies that make whole life insurance one of the greatest vehicles to allow virtually anyone to create financial success.
Because she is ignorant of these strategies, and is only aware of the traditional uses of whole life insurance, she incorrectly assumes that all whole life insurance policies are a rip off.
To be successful, you have to be open minded. You have to look at options that others may disregard and see if they missed something.
Over the past year, I have spent thousands of hours learning the nuances to making whole life insurance work for you to help in achieving your financial goals.
And I am absolutely positive, beyond any shadow of a doubt, that a properly structured policy can make a huge difference in your financial life.
Is it the only way to improve your financial life? No. Are there other ways to achieve financial success? Sure.
But before you take the advice of a “guru” like Suze Orman, find out the other side of the story and then make an informed decision.
Do you want to achieve financial success? If you really do, take the time to read books like “Becoming Your Own Banker” by Nelson Nash, and “Missed Opportunity 101” by Douglas Andrew.
These kinds of books will show you a different approach to financial success.
95% of all people who do save and invest for retirement put their money in the stock markets, usually through investing in mutual funds.
Do you think that all of these people are achieving the financial results they want? The facts speak for themselves.
I see clients all day long everyday who are invested in mutual funds. It’s the rare few who are achieving anything close to their plans.
Many people who’ve been in the markets in the past 10 years are worse off today than they were before this period. In fact, those who were in the market when it crashed in 2000 and 2001 may never recover their losses.
Suze Orman is an intelligent woman. But even intelligent people can give bad advice when they aren’t fully informed. And I guarantee you that Suze Orman hasn’t spent 1/1,000 the time necessary to make a judgment as to the worthiness of specific strategies using whole life insurance.
At the end of the day, you need to educate yourself about your financial decisions. And one financial decision you should absolutely make is to educate yourself about the creative use of whole life insurance to help in achieving your financial goals.
If you do, you will learn, as many are now, that people like Suze Orman simply don’t get it, and that with the use of specific strategies, you can improve your financial life tremendously with the proper use of whole life insurance.
Namaste.
Jeff
Most importantly, he taught me that success is rare. It’s rare because it takes tremendous effort and the right systems to achieve something out of the ordinary.
One of the things that I learned is that there are many ways to achieve success. For example, you can achieve financial success in countless ways. There is no one right way.
Over your lifetime, you will be presented with many ways to achieve financial success. For my wife Sue and myself, real estate has been our primary way to achieve financial freedom.
Even with real estate, there are many ways to become financially free. You can do what we did, which was to buy and hold single family homes, rent them out, and over time, let appreciation grow our net worth.
Others buy multi unit dwellings, like duplexes or triplexes. Some buy apartment complexes. Others buy raw land. Still others do lease options. Some build spec homes and sell. Others buy and flip.
Is one method right and all the others wrong? No. You can be successful doing any of these methods.
What I hate is when someone says categorically that their way is right and all others are wrong. Especially when they haven’t become fully informed and simply don’t know all the facts.
Perhaps the worst culprit I can think of when it comes to financial advice is Suze Orman. She dispenses advice to her followers that she doesn’t even follow herself.
Recently, I read an article of hers titled “The five signs of bad financial advice”.
Suze is not an expert in every area of personal finances. Yet, she gives advice on occasion that is so far off base that it borders on criminal.
Among other things, Suze has total disregard for any type of life insurance other than term. She makes sure that she lets everyone know, every chance she gets, that whole life insurance was created exclusively to allow insurance agents to earn a living.
The chances are 100% that Suze has never been introduced to specific strategies that make whole life insurance one of the greatest vehicles to allow virtually anyone to create financial success.
Because she is ignorant of these strategies, and is only aware of the traditional uses of whole life insurance, she incorrectly assumes that all whole life insurance policies are a rip off.
To be successful, you have to be open minded. You have to look at options that others may disregard and see if they missed something.
Over the past year, I have spent thousands of hours learning the nuances to making whole life insurance work for you to help in achieving your financial goals.
And I am absolutely positive, beyond any shadow of a doubt, that a properly structured policy can make a huge difference in your financial life.
Is it the only way to improve your financial life? No. Are there other ways to achieve financial success? Sure.
But before you take the advice of a “guru” like Suze Orman, find out the other side of the story and then make an informed decision.
Do you want to achieve financial success? If you really do, take the time to read books like “Becoming Your Own Banker” by Nelson Nash, and “Missed Opportunity 101” by Douglas Andrew.
These kinds of books will show you a different approach to financial success.
95% of all people who do save and invest for retirement put their money in the stock markets, usually through investing in mutual funds.
Do you think that all of these people are achieving the financial results they want? The facts speak for themselves.
I see clients all day long everyday who are invested in mutual funds. It’s the rare few who are achieving anything close to their plans.
Many people who’ve been in the markets in the past 10 years are worse off today than they were before this period. In fact, those who were in the market when it crashed in 2000 and 2001 may never recover their losses.
Suze Orman is an intelligent woman. But even intelligent people can give bad advice when they aren’t fully informed. And I guarantee you that Suze Orman hasn’t spent 1/1,000 the time necessary to make a judgment as to the worthiness of specific strategies using whole life insurance.
At the end of the day, you need to educate yourself about your financial decisions. And one financial decision you should absolutely make is to educate yourself about the creative use of whole life insurance to help in achieving your financial goals.
If you do, you will learn, as many are now, that people like Suze Orman simply don’t get it, and that with the use of specific strategies, you can improve your financial life tremendously with the proper use of whole life insurance.
Namaste.
Jeff
posted by Jeff Fagin at 9:52 PM
3 Comments:
Jeff,
I don't know much about life insurance. But what I do know is that many people share that sentiment about Suze Oreman as you do.
Jeff
It may be that some want to teach quantity to the masses except some of us prefer quality.
Larry E.
People need to feel good about what they are doing. Many of the programs work for very few people because it involves work. Nobody is going to had you your financial freedom.
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