Quickly became disappointed
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“I started listening with optimism, but had to stop after ten episodes for the following reasons.
1. The advice is self-contradicting. Ms. Jones recommends getting a 30 year mortgage instead of a 15 year mortgage (and I agree). This helps to maintain flexibility, liquidity, and a high tax deduction. However, she then says we should send in a few extra payments each year, thereby eliminating the benefits of the 30 year mortgage. She cites changes in income as the reason - if you lose your income, the 30 year payment is smaller. However, If you lose your income after sending in extra payments, each extra payment you submitted is a month less of time before you're in default.
2. The advice lacks common sense. Ms. Jones advises to find a "money engine" - a sector or company to focus on that will yield high returns. She cites Bill Gates as one who has done this - he diversifies only after he makes his fortune in one company. First, how is one to know which start-up to invest in? Even if you could discern between good start-ups and bad, how are you supposed to find them? No one but Gates knew about Microsoft until the growth had already happened. Second, she never mentions the innumerable companies that go bust. People invested in Enron know the risks of investing in a single company.
3. The advice is vague and ambiguous. She talks at length about cycles and that we need to invest with them in mind. She looks at several cycles that occurred in the past, but never talks much about current cycles, bubbles, and where we are in relation to them (except today's risk in bonds, which everyone is talking about). She never gives specific metrics that can be used to predict future bubbles, even though seeing cycles and bubbles coming ahead of time is crucial to her strategy.”Read full review »
byergs via Apple Podcasts ·
United States of America ·
06/01/14
More reviews of Be Wealthy & Smart
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“Linda’s advice is so helpful, and this is a really enjoyable listen.”
mc1282 via Apple Podcasts ·
United States of America ·
08/07/14
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“Linda's podcast offers a relaxed, holistic approach to finance management.
It is neither technical - eg, "Money for the Rest of Us" podcast, chatty - "Planet Money", nor shrill - "Suze Orman" podcast. It successfully takes a genuine, big sister approach to money...”Read full review »
allendevans via Apple Podcasts ·
United States of America ·
08/15/14
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“I had been searching for a program that was actually helpful and could act as a mentor as I progress down the path of financial freedom. I found it with Be Wealthy and Smart podcast. Ms. Jones is such a eloquent speaker who speaks from her heart. I have found that I am drawn to her programs...”Read full review »
Alcides in SC via Apple Podcasts ·
United States of America ·
09/30/14
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