By Dave Carpenter, AP Personal Finance Writer
CHICAGO (AP) — Suze Orman's financial pep talks carry consistent themes: Attack your debt. Have a plan for retirement. Take control of your money.
Orman hasn't remained the nation's best-known purveyor of personal finance advice by sticking to the same script through boom and bust, however.
Yes, it's the South Side of Chicago native's powerful, empathetic delivery, often accompanied by a wagging finger, that makes her persuasive. And multitudes keep tuning in to her CNBC-TV show and buying her books because of her knack for talking people through the changes in the economy.
That means sometimes revising her advice on the fly. She preaches much more caution than she used to, for example, when it comes to taking out student loans for pricey tuition.
Orman has a more pessimistic outlook for the economy than many of her peers. "We're still four to five years away from any semblance of recovery, in terms of jobs and everything really coming back," she said in a recent interview with The Associated Press.
So how does that affect her advice for the coming year? Here are five things Orman says you should know about your money for 2011 but probably don't:
1. Dividend-paying stocks are the way to go. Orman: If you are investing, and you should be investing, you need to understand that in 2011 most likely bonds are over. You're better off in good, quality stocks that pay high dividend yields — 4%, 5%, 6% — where the dividends are safe and secure and apt to go up rather than be eliminated.
If you don't know which stocks to purchase, you might want to look for a good exchange-traded fund that pays a nice dividend yield.
Investors need to be in stocks that pay good dividends, regardless what happens with tax brackets. That is a switch for me. From 2007 all the way up until now I have been "bonds, bonds, bonds."