The Motley Fool Money-Making Life-Changing Special; Suze Orman: The Road to Wealth

"We talk more about sex--thank you ex-President Clinton--than we do about money," quips best-selling author and financial guru Suze Orman in Suze Orman: The Road to Wealth, a PBS-aired seminar aimed at both the financially-upscale-but-jittery and (please excuse the technical jargon) those "without a pot to pee in." After assessing the financial world circa mid-2001--i.e., at a time when "nasdaqed" entered the slang lexicon as a synonym for "sunk"--Orman engages in a meaty, no-holds-barred money makeover Q&A with the audience on a variety of issues, including debt management, the best time to purchase long-term healthcare insurance, the benefits of living revocable trusts (and the serious potential monetary penalties of not having one), traditional IRAs vs. Roth IRAs, the advantages of index funds, important tax strategies, and much more. Like her The 9 Steps to Financial Freedom with Suze Orman (VL-1/99), this one combines a bit of touchy-feely pep talk ("you're in control of your money") with a solid helping of straight-from-the-purse advice and a dollop of droll humor. Sure to be wildly popular, this is enthusiastically recommended. Aud: H, C, P. Okay, here's a quiz question that First USA or Capitol One will never ask you: If you charge $1,000 on your 18% A.P.R. Visa card and pay the minimum payment, how long will it take you to reach a zero balance? Drum roll please… A mere nineteen years. So, the first suggestion that David and Tom Gardner, the Motley Fools who rode to investment advice fame on AOL, offer to financially unsavvy viewers in The Motley Fool Money-Making Life-Changing Special is to pay down any double digit credit card debt--of which the average American presently carries some $5,800. Not only are viewers advised to pay the highest A.P.R. cards first, they're also exhorted to call and ask for a lower rate. Speaking before a live audience, the Gardners adopt a semi-effective Smothers Brothers routine (to whom they actually bear some resemblance), mixing fraternal humor with solid tips, illustrated by real world examples, for getting one's financial house in order. After laying down some solid groundwork in debt reduction, budgeting, and saving, these wise fools present a fine seminar on stock market investing basics, teaching people why mutual funds (75% of which underperform the stock market) are not the investment darlings that money gurus would have you believe, and encouraging viewers to use their considerable knowledge as consumers to make stock picks based on what they know and love (as opposed to obscure penny stocks in industries unfamiliar to them). Eschewing the get-rich-quick, day trader philosophy which went out of vogue with the collapse of the tech sector, the brothers' conservative line--buy leaders and hold on to your winners--is good advice, borne out by over a century's worth of stock market history. Sure to be a financial lifesaver for some and an investing kick-starter for others, this entertaining and informative guide is definitely recommended. Aud: H, C, P. Given that the Suze Orman tape focuses on a number of specific issues relating to insurance, tax, and trusts, and the Motley Fools video leans more toward debt management and investing tips, we recommend picking up both of these inexpensive guides. (R. Pitman)