The Suze Orman Show Season 13 Episode 7 The 411 On 7702 Plans

Description:

In season 13, episode 7 of The Suze Orman Show, titled The 411 On 7702 Plans, financial expert Suze Orman delves into the world of insurance plans and how they can benefit or harm your finances in the long run.

Orman starts off the show by explaining what a 7702 plan is and why it may seem like a good idea for some individuals. She points out that 7702 plans are often marketed as a form of life insurance that offers tax-free returns, but they come with some significant drawbacks that consumers should be aware of before investing in one.

Throughout the episode, Orman addresses several key factors that consumers should consider before investing in a 7702 plan. For example, she explains that the returns from a 7702 plan are often linked to the performance of the stock market, so investors are exposed to risk. Additionally, Orman highlights that the fees associated with 7702 plans can be much higher than those of other investment vehicles, which can eat into returns over time.

Orman also emphasizes that consumers should be aware of the restrictions associated with 7702 plans, such as limits on how much money you can contribute and how you can withdraw funds. She explains that these restrictions can make it difficult for consumers to access their money when they need it most, which can be problematic in emergency situations.

In addition to discussing these key considerations, Orman also answers questions from viewers about 7702 plans and other financial topics. One viewer asks Orman about the best way to save for college education expenses, while another seeks advice on how to invest in real estate as a source of retirement income. Orman provides insightful and practical answers to these questions, drawing on her vast experience and expertise in the financial sector.

Throughout the episode, Orman's overarching message is that consumers should be cautious when considering 7702 plans or any other form of investment. She encourages viewers to do their research, consult with financial professionals, and make informed decisions about their financial future.

Overall, season 13, episode 7 of The Suze Orman Show provides valuable insights into the world of insurance plans and how they fit into a broader financial strategy. Orman's expertise and engaging style make this episode a must-watch for anyone looking to better understand this complex topic.