Motivational Gurus The People Who Are Redefining Success

Wednesday, March 17, 2010

Suze Orman - Step 6: Trusting yourself more than you trust others

Step 6: Trusting yourself more than you trust others

After two chapters of pretty solid individual financial advice, the sixth step focuses on building wealth for yourself. Basically, this chapter focuses on trusting yourself in terms of where to go next once your financial house is in order.

Suze is a big proponent of complete trust in your gut feelings, and most of this chapter focuses on that, particularly in terms of how you can use that gut feeling to guide your investing. The whole point of this chapter, in fact, is that you should become as comfortable as you can with your money so that you can follow your pure gut instinct about what’s right for you, which makes a lot of sense. She even provides a seven page questionnaire that can guide you along this path of comfort.

One portion of this section that made me somewhat uncomfortable is her repeated hinting that one should really get a financial planner, which seems to contradict most of what she says. For example, she continually points out that most index-based mutual funds beat managed mutual funds, but in the next breath she encourages readers to seek out a financial planner for advice. If you’re investing the time to read this book, wouldn’t it make sense to also invest the time to do the planning yourself?
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