Suze Orman:  Financial Guru

Suze Orman is a tried and true financial professional with the scars to prove it.  Although she is not everyone’s favorite financial expert, Suze Orman has a track record which is quite hard to ignore:  7 Consecutive New York Time’s Bestsellers, plus 2 Emmys.  Add to that being named one of Time Magazine’s most influential people of 2008, and her resume is well rounded. 

Her latest book could not have been more poignantly placed with the increasingly failing economy both here in the States, and around the world. 

Video: Suze Orman on the Today Show

Reacting to the Financial Crisis 

Suze Orman is one unhappy lady when it comes to the economic crisis of 2009.  Sure we all know what is happening, a deepening recession, banks collapsing left and right, credit scarcely found, but Suze Orman hits the tail on the head, as usual.  Her deft critiques and insight into both the causes of the recent financial crisis and the underlying issues inherent to our economy that made us ripe for this situation are right on mark.  The difference with Suze Orman´s reaction to the financial crisis is she offers hope, some inspiration, and a detailed guide on what is happening and more importantly how to survive it.  If you are a Suze Orman fan, you will be delighted with 2009 Action Plan.  If you are just looking for some plainly spoken advice and insight on the current economic times, this book comes recommended to you with high marks. 

The Book with a Promise 

Suze Orman makes a pledge to her readers in the 2009 Action Plan; a promise to help them get through the turbulence.  Not only does the book provide a detailed account of the problems the economy is currently faced with, it provides a solution on a personal level for each reader.  2009 Action Plan really is a plan for readers:  a step by step strategy to not only survive the recession, but rebound quickly.  Suze explains the reasons why people tend to inflict more self damage than they actually face during financial hard-times.  More than anything, she will show the reader how to identify the causes of their financial woes, and what to do first and foremost: not panic!  2009 Action Plan shows conclusively how people tend to overreact to their real or perceived financial problems with erratic decisions.  These include cashing in 401k retirement plans or other long term saving investments to get some cash flowing.  These decisions will end up costing you too much in penalties and taxes, and you will be robbing yourself of your long term financial security.  Suze Orman tells you what you need to do right now, what to avoid, and how to weather the storm successfully. 

Video: Suze Orman on Personal Finance

Where Suze Orman Places the Blame 

While there are many places, people, and politicians who undoubtedly share the blame for the economic crisis we are facing, Suze Orman points the finger in one direction.  Suze Orman adamantly blames the inflated costs of home prices and bad mortgage loans for the whole mess.  Orman says the cause of the recession "starts and ends" with these causes alone.  While there is some truth to her accusation, a lot actually, readers should take away the larger message:  we need to make some changes.  Americans need to stop complaining and stop whining, take inventory of their lives and make some changes.  Spending money we don’t have, taking on debt in amounts inconceivable to consumers just a generation ago, was sure to end poorly.  By making ourselves more accountable, we can look to the future.  A future of balanced income to spending ratios, good borrowing decisions, and well thought out financial planning strategies.  We can only hope the powers that be in Washington pay attention to our example and follow suit.