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Marketing and mindset coach Kate Beeder took exception to Orman’s discouraging advice for would-be business owners, posting this protest on Facebook: “Too old to live your dream????I recently read an article where Suze Orman advised a woman in her 40’s to not leave her corporate job and go for her entrepreneurial dream.
Stressed out by the unpredictability of the market, she had moved ALL of the money in her retirement accounts from the stock market to cash accounts.“It was the most brilliant thing I’ve ever done, and I made a fortune. (Note: Single Premium Whole Life, or SPWL, is a particular kind of whole life that is appropriate in certain situations, but not for those wishing to build and borrow against their cash value.We’ll do a post on SPWL soon.) Why the dramatic change in advice? Perhaps she is uninformed, as are the great majority of financial advisors, how to structure or utilize a high-cash value life insurance policy that is not a MEC. the fact that Orman’s income now comes from books, products, sponsors and affiliates has led her to dramatically change her financial advice. Banks put billions of dollars into “BOLI” – bank-owned permanent life insurance – while advising their customers to put their money into savings accounts and CD’s earning next to nothing.In a recent video from the Palm Beach Letter, a finance insider confessed that many financial gurus and professionals have Today, we’ll see how Suze Orman’s advice lines up with her actions on Investing, Entrepreneurship and Life Insurance.