You Can't Count On Remittances Forever As Said By Suzie

[Jollygoodfellow]

Gawd! I would love to debate Suze Orman

That's why we have a forum called, The Chatter Box. You can debate it all you like as its not political.

[Art2ro]

Suze who? Hmm...................! I've already read enough of the contrasting posts above, let alone debate about Ms. Suze who's comments or her expert opinions! Always the pessimist and never the optimist or is it the other way around, surely one can't be both! Each to their POVs, expert or not! Sorry, my crystal ball is broken I'm afraid! So, no predictions today! :lol:

[Call me bubba]

So, while she is a bit fashionista and probably way too popular, she has worked to get where she is.And she was invited by BPI to speak.She was supposed to say no? Sorry, not a clue about Filipino economics except for the woman dusting my house in La Jolla and another one cooking lunch in my Martha's Vineyard getaway.Sorry, I don't see the problem at all. Oh, I may not like her, but BPI was getting the views of a very popular and pretty darn successful financial adviser. Feel free to disregard her as I surely have often enough, but I'm clueless to the hubbub over being told to save some of your income, and the other odd tidbits of advice you find amusing.

She said things that The Philippine EXPERTS have wanted to say but was TOO AFRAID to say THE UGLY TRUTH.If her visit ,her controversy Of the what she said can get some people to THINK and THINK hard , Just maybe she has saved someones life or put them on the road to being more "secure"Every month, I read some story about an OFW or his/her family in some type of $$$ problems, ,maybe just maybe, I am not holding my breath on this, her views can be helpful to at least someone, and again,, I repeat,Maybe she has saved someones life or put them on the road to being more "secure"

[FlyAway]

Another article from the inquirer.http://lifestyle.inq...ey-have-to-workThis one mentions a few things we always hear and talk about. Parents should never tell a child they hate having to leave home because they have to workSuze Orman speaks fondly of Filipinos. For many years, she has had Filipinos working for her back home in the US, and she only has praises for their diligence and dedication.Having Filipinos in her household has made the Emmy-winning TV host, best-selling author, and straight-talking motivational speaker familiar with Filipino cultural idiosyncrasies, one of which she has come to frown upon as a personal finance expert: They send all the money they make to the Philippines.Orman, who was just in the country as guest of BPI, told the Inquirer of one employee who, after a decade or so of taking a month off each year without fail to visit her family back home in Cebu, suddenly no longer wanted to make the trip.“So I asked why. And she said, ‘Because when I go home, all they want is money. And I’m getting older, Suze, and I don’t know how much longer I’ll be able to work.’” The Filipino employee said she now wanted to save up for her old age.Hearing this deeply saddened the TV host, as she knew how hard her household staff worked.“That had a profound effect on me,” she said. “This is a woman who didn’t see her child from the age of 5 until the age of 15, because she couldn’t go home until she got her green card, and it took 10 years. She cared enough for her family to not see her child for 10 years! And now she voluntarily doesn’t want to go home.”Orman acknowledged that people—parents, in particular—have a propensity to express their love materially, and to quickly bail out their children when they have money issues, and this is not unique to Filipinos.“What’s unique to the Philippines is this built-in culture that one person could take care of a lot of people, a built-in culture that if you leave the Philippines and you go abroad to make money, it’s absolutely your obligation to send home that money, whether you can afford to or not,” she said.Orman doesn’t see this as a good thing. “You know, I have a saying, ‘When is helping hurting, and when is hurting helping?’ Sometimes when you give and you give, people never have the ability to rise and see what they can do on their own. In a very strange way it keeps people down. It keeps them thinking that they can’t do something unless someone sends them money.”Precarious situationIf a family pins all its hopes on that one member working overseas, it puts the entire household in a precarious situation, Orman pointed out. “If something happens to that person, say, they lose their job, that one person has now affected the lives of four, five people that he or she has been sending money home to. And they don’t even have money saved because they sent all that money home.”She added, “But I understand that it’s a cultural event, that it’s an obligatory event. I’m just not sure that helping people who can take care of themselves is really helping the country, the family and the people.”Filipinos working overseas, Orman said, shouldn’t have to send all their money home. They must learn to withhold, since doing so could mean helping their loved ones in the long run. In short, Orman suggests dispensing some tough love, which is exactly her trademark manner of giving financial advice on her top-rated CNBC show.Parents should teach their children financial responsibility at an early age, she said. Parents should never tell a young child that they hate having to leave the child because they have to work. When you do that, “You just taught your kid to hate work and to hate money,” she said. “What you should say is that, ‘I’m so lucky that I get to go to work and I’m able to make money so I can help support the family. I’m gonna miss you but I’m so lucky that I get to go to work.’Orman also said there’s nothing wrong in asking adult children who live with their parents to pay for rent or living expenses—even if the parents can afford to shoulder all household expenses.“I do think it’s important that children learn the responsibility of what it takes to pay for something, what it takes to eat,” she noted. “You start to train them so that when they do leave the house, they understand that, ‘Oh it’s gonna cost me money to buy food, it’s gonna cost me to have water and electricity,’ the realities in life. You’re helping them rather than just taking care of them…”Take the money, she said, and save it for when the child leaves the coop. “You now have a lump sum of money that you can give them that they themselves created, so that they can see how that works.”Instead of indulging their children’s whims, she said, parents must also think of saving for their old age. They should not automatically expect their children to care for them.