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Suze Orman's 2009 Action Plan

3.49 of 5 stars 3.49 · rating details · 530 ratings · 129 reviews

2009: The Year You Can’t Afford to Make Any Mistakes with Your Money.

The credit crunch, the stock market freefall, the staggering toll of home foreclosures and job losses: The economic crisis that struck in 2008 has left no one untouched and everybody reeling. Seemingly overnight, the financial landscape has undergone seismic changes that suddenly have you asking all kinds...more

ebook, 96 pages

Published December 30th 2008 by Spiegel & Grau

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Jan 12, 2009 Kim Olson rated it 5 of 5 stars · review of another edition

Let's face it: If common-sense Suze Orman was in charge, the country would likely be in a lot better shape. She serves up plenty of tough love in her latest book, which launches with an overview of how we got into our current economic mess, which she says is the fall-out of "a wild, drunken party of dishonesty and greed on a national scale." Yep.

This book comprises scores of helpful Q&As, with advice that is specific to this moment in time. Can paying just the minimum due on your credit card...more

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Nov 05, 2009 BarkLessWagMore rated it 4 of 5 stars · review of another edition

Published in late 2008 this book was written just when the fallout from the economic crises was beginning to hit the average American schlub. As of November 2009 things only seem to be getting worse as each day passes. Unemployment is much higher than the #'s quoted in her book and every day more businesses are closing up shop.

This book was written as a guide to help people deal with the devastation of the changed economy. It's written in a question and answer format.

Most of these financial gur...more Published in late 2008 this book was written just when the fallout from the economic crises was beginning to hit the average American schlub. As of November 2009 things only seem to be getting worse as each day passes. Unemployment is much higher than the #'s quoted in her book and every day more businesses are closing up shop.

This book was written as a guide to help people deal with the devastation of the changed economy. It's written in a question and answer format.

Most of these financial guru's stress socking money away (ha ha) and taking on a second job but what they don't seem to realize is that many of us are already doing so and are just squeaking by with nothing left over because of pay cuts and increased taxes. Sometimes I feel these millionaire financial guru's are a bit out of touch with hardworking and still struggling folks. Put more money into a 401K or a college fund? Sure, when money starts raining from the sky . . .

Many of the questions in the book pertain to FICO scores and mention ways to improve it if it happens to fall under 720. Unfortunately, due to devious doings by credit card companies who are closing accounts and slashing credit lines many innocent people have fallen under 720 even when they've done nothing wrong. I think the author wastes too much time worrying about the FICO score which is only useful if you're going to borrow more money (though I've heard some potential employers check them for new hires which seems like an invasion of privacy to me). She does stress paying off credit cards, which I agree is something that everyone should do, but if everyone stopped using them as a crutch and paid with cash they would be forced to live within their means and wouldn't have to worry about the whims of the almighty & secret FICO gods.

She stresses you absolutely must have 8 months worth of expenses in a savings account or you are doing wrong by your family. This may be sound advice but it's unrealistic for many people and is hurtful to those doing all they can just to keep food on the table. She bangs you over the head with this comment numerous times and again it brought home the fact that this woman has no clue about what it takes to raise a young family on less wages than one made a decade ago.

She goes into a lot of detail about stocks and bonds, saving for retirement and for college. It seems like good info IF you have money to invest but as we're still in "getting by" mode I'll have to keep it in mind for the future.(less)

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Mar 17, 2009 Kathrynn rated it 5 of 5 stars · review of another edition

Shelves: nonfiction-business, own, 2009, reviewed

Great book, full of insightful, straight-forward investment tips for this crazy economy. Easy to read. Neat question and answers in each chapter. Took me a little over 2 hours to read it!

Curious as to what to do in this economy with investments? Keep investing. Now is the time to buy stocks.

Should a person stop investing in their IRA? Nope. Buy low, sell high. Ride it out. Now is the time to buy shares. Market will return, but maybe not until 2014 or 2015, she says.

Roth IRAs are going to open...more

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Apr 13, 2009 Susanna rated it 5 of 5 stars · review of another edition

I love this book! Orman continues to provide clear concepts and direct answers to the common financial questions in 2009.

This big font book is fast to read and easy to digest. Orman touches upon topics such as how to rescue your FICO scores, how to defer college loan payments (for those poor fellas who just graduated and can't find a job), and how to allocate your retirement portfolio.

We all know a standard financial advising boilerplate does not cover the continuum of everyone's financial situ...more

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Mar 31, 2009 Sharon rated it 3 of 5 stars · review of another edition

Shelves: books-i-read-on-my-kindle

This book is mostly for people with a truckload of debt who are anticipating a major life event (such as a child entering college or retirement) in 2009 or shortly after. You can read '2009 Action Plan' straight through or skip to topics of interest because it is written in question and answer form.

4 things you should know:

1. Suze Orman makes 2009 sound like the Apocalypse.

2. This book is not for broke people. Suze assumes you already have a 401k, stocks and other assets you can fallback on.

3...more

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Jan 13, 2009 Rosey rated it 2 of 5 stars · review of another edition

Recommended to Rosey by: Rhonda

Shelves: read-in-2009, finances

I'm surprised at how quickly she wrote this book. It's a great kick-in-the-butt for people who obviously don't know or chose to ignore basic financial training. I don't know much about her, but it seems like she's been giving this advice constantly (an unlimited text plan is a want not a need, if you don't have a retirement fund you can't afford a second home, etc) so I'm not sure why people will start to listen to her now.
But my mother sent me the link to download it free (thanks Oprah) and th...more

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Jan 07, 2009 Marsha rated it 5 of 5 stars · review of another edition

This is a great book as it addresses the present economy. The poor state of the economy has affected me personally. I was laid off from my job in February 2008 and have only been able to find temp work or no work at all since then; I lost $10,000 in my IRA so far and I've been using my savings to supplement my unemployment benefits. What to do about it? I felt like Suze's book addressed me personally. For one thing, I won't be retiring for about 15-20 years, so someone in my shoes, Suze's sugges...more

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Jan 14, 2009 Lisa rated it 4 of 5 stars · review of another edition

Suze Orman is just fantastic--she's level-headed, incredibly honest and blunt about the way that we are currently living our lives (on credit, in debt, and not living within our means) and has great practical advice for everyday Americans. The best advice I got out of this book:

1. First things first: pay off all credit card debt quickly. Having a balance on one or more credit cards per month is not living within our means.
2. Save at least 8 months worth of living expenses. Especially at this tim...more

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Jan 08, 2009 Matt rated it 4 of 5 stars · review of another edition

I'll take 5 minutes to write a quick review.

This was a timely book, considering the economics of the last six months. I found it to have some useful info and hope to use some of the advice in the coming year.

I really want to comment on how easy this book must have been to write. Although the author spends a few short chapters giving an overview, the majority of the book consists of questions and answers posed by her clients or readers/listeners. Since she does a TV show on PBS (?) it seems that...more

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Jul 19, 2011 Lesley Strom rated it 4 of 5 stars · review of another edition

Shelves: self-help-books

Wow! This lady really knows her stuff. This book was written at the end of 2008 to help us prepare and have an action plan for the Global Credit crisis in 2009. She talks about why you should pay off credit card debt, understanding your retirement plan, what to do in the real estate market if your home has depreciated in value due to the Economy. This book has lots of good things. Even though this is 2011 now I still think it's a good idea to understand why you need a FICO score of at least 720...more

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Feb 14, 2009 Amanda J rated it 3 of 5 stars · review of another edition

Recommended to Amanda J by: Oprah!

Shelves: business, non-fiction

This book was really about 2.5 stars but I am giving Suze an extra .5 for putting this book up for free on the web for a week. I was able to download it in under a minute and read it through Adobe Reader.

All in all it was a fast read with some interesting and useful information, explained clearly and concisely. This book is designed for people who are not experts in finance or economics. It doesn't have a lot of specifics, but if you're looking for an overview of how we got in this financial me

...more

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Jul 20, 2012 Janna rated it 3 of 5 stars · review of another edition

I believe Suze has valuable advice and insight. I read this as soon as it came out, and followed many of her recommendations. As the economy continues to change, I think that much of this advice is still valuable, but it should still be considered for the context of the economy it was intended for. After hearing her speak at the Texas Conference for Women (11/12/2009), I know that she foresees a long road ahead before we see financial recovery. For those interested in personal finance, I do reco...more

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Jan 03, 2011 Madeline Wright rated it 4 of 5 stars · review of another edition

Recommended to Madeline by: Ramit Sethi

I think it had some great info for setting up the reader with knowledge to begin navigating the world of personal finances in 2009. The link to a free download of the book through January 15, 2009 has expired but you can still read the first chapter here: http://www.oprah.com/article/oprahsho...

Here's the link to her 2010 guide:
http://www.oprah.com/money/Suze-Orman...

Plus the link to her 2011 blue print:
http://www.oprah.com/money/Suze-Orman...

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May 04, 2009 Claire S rated it 3 of 5 stars · review of another edition Recommends it for: Those who are drawn to it.

Shelves: fiction-not-at-all, fin-econ, f_interpretations, f_truth-mixt-q, politics-learning, explored-skimmed, form_complexia, sobriety-spirituality, workplace

These sorts of books are kind of a bad habit of mine. Yes, they tend to be obvious to an extent, and all. But the random tidbit! There *could* be a random useful tidbit! It's hopeless.

I also get a kick out of how she says in the early part such things as "Follow the advice here and you will know exactly whta you need to do to adapt to the new post-meltdown reality," and "I promise I will never steer you wrong or put your dreams of a secure future in peril. You can count on me." Meanwhile, on the...more These sorts of books are kind of a bad habit of mine. Yes, they tend to be obvious to an extent, and all. But the random tidbit! There *could* be a random useful tidbit! It's hopeless.

I also get a kick out of how she says in the early part such things as "Follow the advice here and you will know exactly whta you need to do to adapt to the new post-meltdown reality," and "I promise I will never steer you wrong or put your dreams of a secure future in peril. You can count on me." Meanwhile, on the title page, it says, "Neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services by publishing this book. ...The author and publisher will not be responsible for any liability, loss, or risk incurred as a result of the use and application of any of the information contained in this book." Beauty.

Beyond that, in the early pages she talks about the very real possibility that we in the US are facing a recession. In the months since this was printed, it's clearly become much worse - a domestic Depression, and global Depression, a global Depression plus war.. it's unclear just what the parameters are. The more variance there is between our situation today and what Suze perceived when this was written, the more 'off' the advice may be.

So, incorrect advice which - in any case - you are warned not to rely on. Seems like a bit of limited utility.

Even so, books like this can be useful I think just for familiarity with terms and how things work, not just FICO scores and 401K/403B vs. Roth, but things like the FDCPA; NFCC; DMP; MMMD's vs. MMMF's; interrelationships between the FDIC, NCUA and the Treasury; FAFSA and Staffords, and the SPIC. Unfortunately this book doesn't have an index.

But using it to brush up on the range of subjects she covers, and using her current website plus the most current info on all the sources she includes probably will continue to yield interesting points of view to consider, as we continue to spin into (hopefully survivable) entropy.

After reading/skimming it: I would say it's useful. The headings in every section let you pick only that content that relates to or interests you. And the matter-of-fact tone is reassuring and makes it seem like a conversation. These subjects are among those that conversation improves, I believe. So, if this book seems like a good idea for you, my advice would be to go ahead and read/skim it! But the more time has passed since November 2008 when you read it, keep in mind details and/or the whole tone might not specifically fit reality anymore, exactly. Still, the refreshing conversation and shifting around of goals/methods/abilities to respond/facing the truth/ and most of all CHOICES we all have is useful.(less)

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May 14, 2009 Jodi rated it 2 of 5 stars · review of another edition

Someone told me about this book being available for free from Oprah's website for a limited time, so, since I enjoy good financial planning books, I thought I'd take a look at this one. I read the entire e-book in about 1/2 hour. This book is mostly meant for people who have major difficulties with anything financial (lots of credit card debt, risk of foreclosure on a home, etc.). If you feel like you manage your money pretty well this book is not for you.

I found most things in this book to be...more

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Feb 18, 2009 Hannah rated it 3 of 5 stars · review of another edition

Not too many surprises here. We just finished teaching FPU at our church and the same principles applied here that Suze gave. I thought the chapter on college savings was way out of step with the rest of the book. She seemed to say that you should be very frugal, save and not add on more debt except when it came to your child's education. Did not add up to me.
I mostly read it so I could find out more about investing in mutual funds. Many of my friends are getting out of the market completely. W...more

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Apr 28, 2009 Caddie rated it 3 of 5 stars · review of another edition

This book is great for the times. I love watching her on Oprah and her straightforward get out of debt and save attitude. It is nice to have a financial leader in these times tell people 'no'. I always cringed when it came to using credit, so it is nice to have her tell you how to save it during this time. Everyone will learn something from this book. I learned why our economy went down the cracks and how it relates to me personally.

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Feb 22, 2009 Darla rated it 5 of 5 stars · review of another edition Recommends it for: financial newbies

Shelves: financial

I am shocked by all the negative reviews of this book. Mind you, it's not written for hard core savers who watch Suze's (or Dave Ramsey's or any other financial guru's) show but for people who have just woken up and realized that they are in a financial bind. For me, most of the information was redundant or just didn't apply but I would highly recommend this book to other people who are financial newbies.

Of course the best first step you can make toward getting your finances in order is to pick...more

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Aug 11, 2009 Suzanne rated it 4 of 5 stars · review of another edition

I really enjoyed her tough-love message on finances. We all know we need to curb our spending and figure out what our "wants" vs. "needs" are. It's wise to have an emergency fund. Personally, I didn't agree with her advice on temporarily halting charitable donations until you are more financially secure. Overall it was a good book to read to get you thinking about your finances and great question and answer sections.

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Jul 23, 2012 Sundae rated it 3 of 5 stars · review of another edition

Shelves: personal-finance, non-fiction, worth-a-read

Not bad. This book is actually a great place to start if you know absolutely nothing about personal finance. No not, regular math like 1+1=2, but more if you have no idea what a 401K is, no idea what determines your credit score, no idea about wills and trusts ect. This is great INTRODUCTION. It's not a guide to follow, but a great book to get an overall background and intro before you delve into heavier stuff.

I like the way Orman does the question/answers in her book. You don't have to read the...more

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Nov 11, 2009 Michelleawagner rated it 5 of 5 stars · review of another edition Recommends it for: EVERYONE

Recommended to Michelleawagner by: Saja Duncan

My friend Saja told me this was a good book on financial stuff, and I figured I need all the help I can get. I finished this book on Nov. 1. It is something everyone should read--I already knew a lot of the financial info. shared in it, but some that I did not. Regardless, it really puts you in your place and made me realize every day I make decisions that could have lasting effects on mine and my family's financial future. It is a really fast and easy read. Now I am reading Debt Cures and we sh...more

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Jan 25, 2009 Holly rated it 2 of 5 stars · review of another edition

It was ok. I think there are better books out there for this type of thing. I'm going to try Dave Ramsey. She makes suggestions for one to have financial freedom. Two of those that annoyed me were as follows: 1. A woman must consider going back to work (if she REALLY cares about her family) 2. Stop making charitable contributions.

And you wonder why people think she's a B.

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Feb 18, 2009 Faye rated it 4 of 5 stars · review of another edition

It had a lot of information in it and helped me to realize that we are doing better than I thought that we were. We have not saved up the 8 months of living expenses at all. It was in an easy to read format so you would not have to read the whole thing if you did not want to. And you can annoy your spouse with too with "Suze Orman says ...."

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Jul 25, 2009 Jessica rated it 4 of 5 stars · review of another edition

I like the way she puts financil mysteries in a way I can understand. When she talks on Oprah it makes sense. My goal is to have 8 months of cushion.

I'm also now reading another of hers about wills and trusts. I ask myself: Why do people never talk about this stuff? I feel very ignorant. I want to be a better financial manager.

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Apr 05, 2009 Julie rated it 3 of 5 stars · review of another edition

Shelves: non-fiction, finance

If you've read any of Suze's other books, there's not a lot that is new here. It's geared towards actions to take in our current economic crisis, although, the advice is pretty similar to what it would be any other time. Only here, the emphasis on having an emergency fund (8 months minimum) and paying off debts is much more crucial.

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Feb 16, 2009 Sheila rated it 3 of 5 stars · review of another edition

I'm a little suspicious of her any time she "guarantees" that a certain plan will work; I don't think anything in this economy is a sure thing. But her advice on paying down credit cards, paying for college, and building a savings account is sound. I can't speak for the real estate chapter since I don't deal in that area often.

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May 15, 2009 Annie rated it 5 of 5 stars · review of another edition

she's totally in-your-face and not very nice, but some times tough love is what a person needs! and she was absolutely right - saying to get your credit cards paid off b/c banks were going to skyrocket the interest rates... we paid ours off and within months, companies were making news headlines with 20+ percent rates!

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Apr 11, 2009 Lemy rated it 2 of 5 stars · review of another edition

This book is useful as it emphasizes some of the ideas that you already know, but maybe ignore due to thinking that it will not make a big difference in your life. However, it's mostly directed to people who are living in the US as it talks about how to manage taxes and portfolios according to the American law.

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Mar 29, 2009 Noelle rated it 3 of 5 stars · review of another edition

Oprah let us download it for free a month or so ago so I did. I just browsed it... wouldn't say I read every word... But I like Suze's no-nonsense style and I trust her. Plus, I was interested in hearing what she had to say about buying a home in 2009. I think she'd approve us. I hope!

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Sep 22, 2009 Becca rated it 3 of 5 stars · review of another edition

I'm listening to this book but sometimes the "action plans" are too complicated to listen to because they involve concepts I'm not familiar with. I'm just at the "get out of debt" stage, so the investment suggestions are not relevant. She's down-to-earth though and no-nonsense.

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