People don't realize all of the extra costs that come from a bigger house and nicer car. Just because you can afford the payment, doesn't mean you can afford the upkeep, insurance and taxes.
Very true. So many folks brag about how much the house has gone up in value, failing to disclose how much they spent on property taxes (2% per year?) and Maintenance (1% per year?); maybe $15,000 per year on a $500,000 home?
@@treesnmoguls People hear what amount they are approved for, and proceed to buy a house worth that much or more. Bad idea. That's a good way to be "house poor," because like you said, costs do go up. Regardless, wouldn't you rather have some cushion at the end of the month instead of having to budget down to the penny? This is why people don't save for retirement, because they have nothing to save.
Agree. I feel rent is not throwing away your money. Lots of wealthy or well off people rent. Many also think of tax benefits as a reason to rush into home ownership. Maintenance most definitely creeps up on people, pool, a/c, leaking roof, back up/broken drainage, etc. Invest in your ability to increase your income.
Exactly ; add in the Pontoon boat 🛥️, brand new kid’s toys , eating out @ restaurants & vacations; those all add Up. The rich /high income earners have a lot of upkeep to do🤓🤓!!! The older I get ; the more content I am in our 1200 sq ft ; 980💰💰A month’s mortgage . I used to want A big home till I got to my mid 30’s & realized all those material goods ain’t all that !!! Live A Simple life & make long lasting Memories instead!! Material goods turnish & lose value over time !!! I am still learning to manage my money better 💯.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too 🙏🙏🙏
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value.
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name "Collen Janie Towe" and everything changed. In the first quarter of this year i made $370k and counting.
@@joshbarney114 Same thought when I read the comments from people. as if it's that easy! You can't give what you don't have. That's why as many as who go into the market with little to no knowledge will continue to feel the full downsides of stocks when it happens. I personally need some guide with regards to my 401k. How can I reach Collen Janie Towe?
@@joshbarney114 oh! i never take this advises online seriously, but i checked Colleen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@AstaKristjan I agree with you. I ventured into stock with less than $100K, and now I'm about 17K short of half a million dollars. Credits to Jennifer Puckett Hunter. She's verifiable.
@@Erinmills98 She’s a highly-sought out adviser, so I’m not certain she’s accepting new intakes, but you can give it a shot. It wouldn’t be proper to just leave her number lying around, but she has a webpage you can look at if you google her name.
And imagine if the wrong side wins and all the social safety networks are slashed. People in America will need to immigrate to other countries including Mexico.
Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further
The main problem is that most folks don’t care about anything other than football, Basketball and Music etc. They find it normal to take credit card debt which will cost them 20percent per year but considers it risky to invest their money and make 10percent or more per month. Learning to avoid high interest debt while also learning how to put your money to work for you by investing is a very powerful combo
Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors who can help shape up your portfolio.
I have "Helene Claire Johnson" as my investment advisor. She has a solid reputation in her field and is a true genius when it comes to diversified portfolios, which help portfolios be less vulnerable to market downturns. She may be a name you are already familiar with; a Newsweek piece helped me to do so. She's a Google-able person.
I have been watching here on Oprah show, I consider myself a wise person when it comes to money but I learned to live below my means because of Suze and , car , paid off no credit card debt, close to paying off my house while raising 3 kids as a single mother. God is wonderful to me! And Thank you for your teachings! Great video!
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@hermanramos7092 My advisor is Catherine Morrison Evansshe’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@martingiavarini I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
First of all, You could lose it all and you could win it all. It goes both ways. Secondly, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@DanLeahfort That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the advisor you're using.
@DanLeahfort I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.
I do have saving’s account, kids savings and salary deposit accounts which are also all Offset account against home mortgage. You could say I make 6,5% on them as long as they offset the mortgage. Also paying mortgage every week rather then monthly would save you tons of money
My husband and I paid off our house before pandemic and paif off our cars as well. So yes, being no debt is wonderful feeling. Thank God, to have blessings like it.
I think you are right. I still have a house to pay off but I got car, and all credit cards paid off and some savings and it feels so good to not have these interest payments to credit card companies every month.
I am super impressed by the fact that Suze Orman is still rocking at her age. I remember watching her show, "Suze Orman Show" twenty years ago and I can't believe she is almost the same after all this time. God bless her!!
Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. This global collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
There are lot of ways to make a killing right now, but such high-volume near impeccable trades can only be carried out by real-time experts. Trying to earn big in this down market without an advisor is like trying to win the Indy 500 riding a llama.
I'm sure the idea of an investment-Adviser might sound controversial to a few but based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 580k within 16-months from an initially stagnant Portf0lio worth 105k.
Inflation is high here, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
Absolutely!!! 'Colleen Rose Mccaffery’ is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, look-- her up.
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@kashkat987 That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@MIchaelGuzman737 Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
Her name is "JILL MARIE CARROLL", can't divulge much. Most likely, the internet should have her basic info, you can search her online as she is SEC and FINRA regulated.
@@MIchaelGuzman737 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I first knew about Suzie when she was on Oprah helping people get out of debt. I followed her financial plan to get out of my $10,000 debt and it took me 1 1/2 years to do it. Her book, “The Money Book for the Young Fabulous and Broke” was my financial bible
I first leaned of Suze twenty years ago when I saw her on PBS. I adopted and still live by many of the things she is saying. I am retired now and still save and invest a little each month, you cannot take anything for granted, and you must plan for the worst.
Take care of yourself. You are your own best advocate. It's not your employers, parent(s), friend and / or the governments responsibility to take care of you. Until people take their own financial responsibility into their own hands, they will always be a self made victim. It's not fair to expect anyone else to clean up your financial mess.
Started watching you in 2008. Listening to you I was able to purchase my 1st home in 2010 for $96,000 Just sold it for $245,000. Purchased a new build inventory home for $279,000 appraisal was $335,000 @4.125 rate. Thanks for helping me create Generational Wealth. I'm debt free other than my mortgage 💙
I hate to tell you but you're just created more debt for yourself. A home is a roof over your head and it's value can't created wealth for you. Investments that create yield ( income) is what creates generational wealth.
@@ShamileII My friends said the same thing in 2010 when I stopped renting & purchased my 1st home for $96,000 after the housing market crashed. Now they're in the same position 13 years later as rent has increased significantly 💵💵💵
Your house is a liability my friend, even though you feel differently on paper. The market is overvalued and at some point your home value will reverse when there is a correction in the market. During that dangerous time when it’s upside down, hang on to the house and ride it through. The value will eventually recover and rise over the years. Best to you.
Suze is speaking the truth. I purchased her books decades ago and followed her advice and been out of debt for over 13 years. One credit card never carry a balance. Live below my means and use the 72 hours rule before I purchase an item to make sure it is a need not a what.
JUST because someone is making 6 figures, DOESN'T MEAN THEY HAVE ANY BRAINS ! THEY are living off of their credit cards, full of debt CAN SEE THE CRASH FROM HERE !!
I make $140,000 a year and can't buy a home. Debt-free, car paid for, plenty of savings, retirement, and yet scared s***less to buy a house that literally doubled in price AND interest in 3 years. A decade ago I bought a home with $30,000 income in the same area. Just woke up one day and had a real estate agent by noon. Oh, how times have changed!
My portfolio has good companies, however it has been stalling this year. I’ve approximately $700k stagnant in my reserve that needs growth, any suggestions to grow my portfolio will be highly appreciated.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Suze changed my habits years ago. I turned into a big saver. My late husband and I used a budget from day one of our marriage. We were married 51 1/2 years when he passed . I have a mortgage of less than 3% interest. I have no other debt. I have a healthy savings account and a healthy income. I continue to put money in my savings and put extra principal payments on my mortgage. I am one of the lucky and smart ones ones that has never lived above my means.
After she was scamming people with her debit card promising to build credit, there were quite few years she didn’t make public appearance. I guess, she thinks people forgot
@@irinab7524 this is a new idea she selling.....ESA..employer saving account....just save it yourself and don't tangle it up with employer....employer is not dedicated to worker.😮
I feel so fortunate, saved $170k in my first three years of practice post residency and retirement has grown to 182k in 3 years (unmatched 403b account that my employer fully funds). I live on 80k per year as a physician and will probably never change my lifestyle bc I have more than what I need. My colleagues are buying lavish homes and cars and I wouldn't be shocked if some of them are also living paycheck to paycheck
It's the spending that have people living paycheck to paycheck. If you're not spending and only using your funds to live (eat, pay a reasonable home mortgage, and pay basic cheap utilities because or home is reasonablen, small, and not grand) then you will definitely have money to save - especially when you're income is a physicians income.
You are very smart! My soon to be Ex is a physician. some of your colleagues are most certainly living paycheck to paycheck because we lived very modest trying to pay off student loans for five years, and I don’t understand how these people can afford 2 homes, lavish vacations, high end cars, taxes 💸. I finally had to file for divorce because of some choices she has made. Now she has to pay alimony, lawyers, soon to be child support, she will loose half her 403b account, house. Unfortunately 5 years into her career she is back in an apartment…. Be smart, Put your family 1st if you have one, if you don’t…. Prenup.
@@joe7665 oh man!! I’m sorry to hear that!! My fiancés name is Joe actually (small world). We are definitely doing a prenup to protect us both (he has no debt and about 1/2 mil in investments meanwhile I have the same amount in student loan debt). I hope she learned her lesson and grows from this
@@pricklypear1111 1st off CONGRATULATIONS!… But I think she just got burnt out and started looking for excitement to be honest. We paid over $400k In Student loan debt in 5 years, 2 masters, 100 published papers, wrote chapters in books, She was a little to ambitious. She competing with all men. I never had debt, great credit, and I had a great job to help pay for her interview season for her fellowship position, which costed about $25k for almost 30 interviews. My words of wisdom to you would be… ALWAYS put your man and family 1st! Communication and everything will work out fine… Work will always be there
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Dear Suzy, God has used you to be a blessing to us!!! You taught us in 1999 about the Roth Ira and how to invest in it. It is helping us alot today. We would have never know about it had it not been for you teaching us about on PBS. God bless you for what you did for us and for all the other people on PBS. I wish I could give you a big hug for what you did for us. God bless you, Michael Stevens.
Our Retirement Ranch homeowners insurance went up, auto insurance x 2 vehicle's went up, property taxes went up, we are debt free we use cash envelopes and we do have our 12 months of an emergency fund. ❤ great video
@@davabaye2656 many years ago she said if you want to retire well, save at least 6% in your 401k - best advice ever. That definitely was not wrong advice.
I love Suzy Orman and have listened to her for years. I do not do any credit cards or borrow from the banks, my 2 properties are paid for. It is amazing. ❤
After a year of the Pandemic, I looked at all of my debt (husband's too), thought of my past practices of buying mostly chit I did not need but WANTED. We did a 180 of everything we did, we tightened our belts, (OT was great, had too much work) we paid off ALL of our debt March 2023. I sleep better and thankful I have 17 years of PERS I never had to think about. Now, I am maxing out my DC. Living through 2008 taught me a few things and now I we are prepared to prevent crap from happening.
Taxes. Health Insurance. Home & Auto Insurance. These $$$ numbers dwarf anything from previous generations. YaYaYa taxes were once 90% on the wealthy. Dont be stupid. No one paid that.
Suzy I assure you the prices of chicken and eggs aren’t coming down. Every two weeks I am spending more on same products. These prices are here to stay
I find extended warranties on cars aren't worth buying. Car dealerships are money grabbing dogs. Suze I love u & I've been following u for about a decade. U have been a great help to me. I know u aren't crazy about life insurance, but I want to leave something to help my G-children. Thank u for your financial wisdom! GOD bless u My Precious Sister!!!
I am so glad someone finally brought this advice into existence! Suze Orman has been preaching about a certain amount of savings for decades but never have I implemented this advice but to have this would be better than tapping into my retirement savings!
Savings are not the best way to get ahead, nobody should have more than 3-6 months cash. Otherwise the banks make so much more from your money. Don’t be fooled by these stupid videos. Seriously sake your self, when did you ever need to come up with 10k fast other then for something you wanted.
@@leonhenry4861 if you put the 12 month emergency savings into a high Interest savings account, you will most definitely make some money while it's sitting there for your EMERGENCY that will bound to happen.
Thanks Suzie for keeping it Realistic,I'm soon to be 60 and is working towards living debt free,car already paid off, paying extra towards my principal on my home when I can, would like to be free from it all by the age of 65-67
For salary earners having a passive source of income is the best thing you could have , because aside the the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor 'Camille Alicia Garcia' , who has been doing a wonderful job
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor
Not at all, having monitored edge my portfolio performance which has made a jaw dropping $483k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently.
@@hunter-bourke21 I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
My financial advisor, '''Camille Alicia Garcia, is a highly qualified and experienced professional in the financial market. She possesses a broad understanding of portfolio diversification and is recognized as an expert in this field.
This was a really interesting interview. I don’t have any credit cards, loans, or overdraft. I’ve been in debt may years ago and it was awful. I try to save as much as I can, buy what I can afford, and work hard to get money
It’s better to pay everything in cash and avoid loans if possible. You don’t have to cut up your credit card’s just put them in safe box and locked them up. Only charge 100 or less on your credit cards to keep them active.
I’ve always loved Suzie Orman … what I pray to nurture in me is the patience and the thinking it’s too little money to save as such it won’t make a difference
Honestly this younger generation HAS it better in terms that they have the internet at their fingertips AND they have a lot of investment platforms/apps i.e Public, Robinhood or WeBull just to name a few where they can easily get to know how to invest in wall st. or retirement. I had NOTHING like this growing up and now I have a lot of catching up to do. Smh..
@@mmp495 Sh*t I would change it if I could. Do you how much we missed in compound interest if we had known how to invest at an earlier age like these kids know now.
We paid off our house last yr. Had a 30 yr mortgage and paid it off before 9 yrs. It can be done you just have be consistent, have goals and live like no one else. With inflation as it is it is nice to not have debt. Btw still working in early forties.
The banks will send you an email a few months before they close it. I keep mine active by making a single purchase once a year and paying them off right away. But, many people don't have the self control to have a physical credit card in their wallet and not charge it up.
Did Suze Orman just gaslight listeners saying inflation is no longer problem and car princes are starting to come down?😂🥴 We’re just getting started with what they have planned.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
It is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.
@@jose2212- Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 950k within a year, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@Sopknapp My adviser is "Mariam Sandra Milner" You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
I don't believe that's true that people don't have $400 to cover an emergency. It feels overstated. People are still going out to eat, traveling and buying new cell phones every year. I'd believe they don't have $2500 but I don't know anyone that can't find $400
I don’t have a credit card .. just debit and cash 💰 … my SUV is paid off since last year … and got rid of storage … saving lots of money! You live and learn you know… so now I’m savvy with money!
Suzy, I'm 40. I've been living too loosey Goosey for too long. I'm a trucker who went back on the road living in a truck to pay off my debt. I gross 1500 to 2200 a week. I just paid off my first small loan. I'm ready to change my financial life. My problem is inflation hasn't been a factor. I've always made enough money to buy whatever I want. And that's the problem. I'm gonna fix it.
My rule is never put on a credit card that you cannot pay off within at least 1 or 2 months (I have a zero interest rate until November). Suze's book, The Road To Wealth, helped me become debt-free and I am doing everything I can to remain in this position. I met her years ago and she autographed my book. She said I was a beautiful man. She is a gorgeous lady too! 😁
Down sizing would be nice but as we know and have heard on this podcast the cost of living has gone up which means to downsize would be more expensive then staying where you currently are. Interests rates are through the roof. Even rent is at a all time high state to state , higher then when the pandemic was in full effect.
This is the worst idea doing it through your work. Make an allotment to your bank before you get your check. This is why people have trouble in retirement because they are not handling their own money. Your job is not your savior. You are creating more wealth for your employer.
Agree....your employer should not be your money manager. You can save it yourself in your own account. You must save it yourself. This is awful idea. Good luck getting FREE MONEY from employers these days. Ha ha... 😮
And employees would do the exact same thing they are doing with the 401-ks, taking loans out or closing them altogether. . Employees can simply have a certain percentage or dollar amount per paycheck auto deposited to a savings account and employers already offer this for free.
I was born in 1943 England I attended a grammar school where I received an academic education. I emigrated to Canada when I was 20. My motto throughout my life has always been, " look after the pence and the pounds will look after themselves". I am sure Suze would agree.
People need to live within their means and make better financial decisions. It's a mind set and knowing when and what spending money on, pretend you're poor saving every dollar available. Credit cards are evil and should be used sparingly. And if you're living beyond your means, make major decisions immediately to prevent financial hardship in the future.
Interest rates are not high. They were artificially low during the pandemic. They have simply returned to normal. The problem is Americans have amnesia and can't seem to remember what happened last week much less 3-4 years ago. Also they can't distinguish between wants and needs. No one needs a $1000 phone nor do they need $4-5 dollar cup of coffee. They do not need to eat meals at restaurants, etc. In other words, many people do not understand how to manage money.
I"ve heard several financial people, The Marcus Garrett, Michelle Singletary, Carol Hunter , Crown Financial , Focus on the Family, Deborah Smith Pegeus state that in 2013, more than 40% of people DO NOT have $400 in savings for an emergency.
I dont have much, no 401k. What i have is a lifetime military & VA pension and health insurance for life. I don't owe a lot on credit cards either. My car is paid off.
First time watching this channel. Some really good subject matter and it kept me watching until the end. I'm going to look out for more of your videos! Thanks 👍
It'd be interesting to experience what 'high income' is like. As of this moment, I could manage a $340 USD emergency with cash (I don't even have credit) and my household monthly income is $1650 USD (disability benefits x2). I live a simple, debt-free life - more income would equal more security for me, not more flash and sparkle.
My social security and pension more than pay my basic bills. But even old, stuff still happens. You never outgrow your need for a emergency fund. I am still saving and investing . When something comes up I general can just pay cash . I also have been able to help family and friends. Men also can have a nurturing nature. That is not a female or male thing. It is a human thing.
Thank you Bethan for sharing this incredible insight!!! People need to know all of this useful information. I truly enjoyed watching this. Keep up the fantastic journalism!!!
I used to wonder how all my co-workers were going on vacations (some every year), going parties, at the best hang out spots. Every year i would refuse to take my bonus (over 10g in shares) for the past 18 years...the dividends would go into a separate account. I have and still is driving the same care for the last 18years...some of my colleagues are on their 3rd/4th vehicle. I have never had mechanical issues because i take good care of it. My buddies laugh and always ask me when am i gonna upgrade😕. The kids went to the best private schools & are now entering university...soon i'll take the lady's advice i.e telling them "handle yourself". Just finished a renovation (with big help from my parents...for longterm benefits of rental)...took the craziest loan that take $10,000 per month...that has now come down to $5000 per mth because the bank's interest has been paid. It was those shares i mentioned earlier that made it possible because its value increased significantly over the years. The mortage was taken out on a 10 acre estate for agricultural purposes. I dont have any significant money saved due to these investment. I have no other debts except the one loan & i only have one credit card. Most of the ppl i know pay rent, and those buddies don't have much savings i have come to realise. Also none have take on the business venture that i have put myself in. I'm thinking, if all fails in the financial system i would still have food & livestock via the farm. Do you think these were viable economic decisions i have made or was there a better approach?
Never compare yourself to others because your financial situation is only yours. Im just a teacher but have lived a much more "expensive" lifestyle. Have traveled a lot & been blessed with a high standard of living in general. Zero debt. I'm sure my coworkers wonder how I can afford it all & to be honest its none of their business. I'm 50 and about to retire from teaching with a nice pension.
@@highbrass3749you need a job for these. Self employed go with SEP for retirement. Question is how to manage unsteady income……has nothing to do with contributions to retirement plans
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me from a huge financial debt with just little investment, thanks so much Mrs. Debra Hindman
l also invest with mrs Debra Hindman, she charges a 20% commission on the profit made after each trading session, which is fair compared to the effort she put in to make huge profits.
My first investment in mrs. Debra Hindman gave me the confidence that led me to invest without fear of loss. I have already taken 3 of my friends to their guide and they are fine.
Do the Roth to retire later but dont forget we live the journey of life so how about buying undervalue real estate and renting it out - earn cashflow as you go while your investment grows, esp with inflation making homes more snd more unaffordable, prices will continue to grow with cash being pumped into system as well as crowds coming into this country.
I have much less in bank savings, because I moved my 6-figures out of a "too big to fail" bank to pay down my 2.5% interest rate mortgage with 28 years left. I want to be completely out of debt, including my mortgage, and without counterparty risk as soon as possible before the Greater Depression hits hard. I haven't used a credit card in several years. I pay with cash or with debit card. I owe nothing and I have positive cash flow above my expenses. For more than the last 20 years, I saved and only paid cash for my cars.
Suze Orman is a big proponent of waiting until age 70 to start collecting social security. She also recommends that you reduce your spending, save and work for as long as you can. This is really just simple math. The lower your expenses and the more you set aside, the more you will have to spend once you leave the workforce. Simple. This is one area where I agree with Suze. Why? because again, it is simple math. For every year after 62 you put off collecting SS you get an almost 8% increase. If that money were in an investment account today most of us would kill for guarenteeded 8% return. I have friends that are 62 retired. They say they could collect SS because their advisor said they could pay their bills based on SS and the small amount they have in retirement accounts. That's fine but it gives no consideration to any emergencies, vacations, fun or just a general increase in things like property taxes. Another thing is say at age 70 you leave the workforce that means you have less years that you need to spend your nest egg. A couple age 70 with a million in their 401K might have income as follows: Social Security $3200.00 x 2 x 12, 401K withdraw at 4% $40k, maybe one has a pension say $30k. That adds up to $146,000.00 income per year. If you have no debt and paid off mortgage and an emergency cash fund, you are doing well and will have little to worry about finances wise. It all comes down to personal choices.
@@thomaschew2191 People like you are why things are so bad in America… Accepting the bar minimum from a government that allows a cartel to tax you… Economia has a poor cast on purpose. You perpetuate the rhetoric for the masses whom are the real currency, to just go along with this bs system like cattle.. You are playing to lose.. That’s the bar minimum…. These oligarchs have to be stopped.. The USA is literally preaching democracy while practicing communism.. Ignoring the human values of the masses and catering to oligarchs……
It's awful advice for anyone who has invested and lived within their means. By the age of 70, our Go-Go years are behind us. I can't imagine working until 70. And guess what. A lot of people in stressful jobs will never live to collect that S.S. money. Studies have shown that the earlier one retires the longer they will live due to the ability to excercize, eat healthier, and be happier. So maybe 65 would be a good compromise.
@@ivanvarykino8202 When you are laying in your casket the last thing on your mind is the amount of money you did or did not collect from social security.
She actually has no credentials or education or background in retirement planning or financial planning. Yet she made over 50 million with common sense and being an “influencer”.
@@wdeemarwdeemar8739 she has plenty of “education,” it is lived experiences. I know CFPs, CFAs who only have book knowledge. I’ll take Suze’s approach/advice over 99% of the “experts” any day. Like you said - common sense. But for some reason, people don’t use it when it comes to money.
Suze, God has used you to help us with our finances sincev1999. My wife and I each opened a Roth IRA because of you. It has been a blessing to us. Thank you for letting God use you to help us. We would have never know the value of thevroth had it not been for you. God bless you, Michael & Letty Stevens
A friend who lives in Oregon has two houses, a fleet of luxury cars and expensive gallery art. I was shocked when he said he has less than $5,000 in the bank. I assumed he was a multi millionaire since one of his houses cost $1.3 million.
Knowing how to manage money is using the head and common sense must always save every paycheck be practical and avoid too much spending not necessary just impt. like the basics I always think ahead of times when moneyed no worry peace of mind confidence thanks God ♥️🇸🇽🇺🇸
just currently I heard by minority mindset that for each dollar, you should spend $0.75 cent for your monthly expenses. $0.10 cent in saving and $0.15 cent toward investment and for each you have a checking or saving account. now if your 0.75$ cent wont cover your expenses then you need to sit down and do your best to cut expenses no matter what... you should live to your means always.
Millennials get a lot of criticism, however its worth noting how many global recessions and crisis events they have had to live through. The past few years suggest that we are living in an asset based economy and yet millenials are often priced out of the housing market, for example.
The part that bugs me is the stereotype that millennials are too dumb to pick a college degree. Newsflash - the world changes at a much faster pace now than it did 50 years ago. I remember back in 2008 how diligently so many of us picked our degrees and went into STEM. We had recruiters clamoring for graduates to go work for their tech and science companies for $40+ an hour. When 2008 hit and we graduated, they disappeared overnight and those of us who were among the lucky ones found ourselves working for $12 an hour with supervisors that didn't even have high school diplomas. You try being an 18-year old kid picking a degree before the worst recession since 1929. Even economists can't get the job market right, why would someone half their age be able to? There is no such thing as a recession-proof job nowadays and this upcoming recession will even be worse.
@@AB-fq4mr Yes, I think that millennials could have been provided with better guidance in regards to picking a degree. Although, in many cases even if they acquired a high paying job, most of their salary would be taxed away and eroded through inflation. Very difficult for them to acquire any significant wealth that way.
@@AB-fq4mr Hope you voted. It does make a difference who you vote for and what that person can do for the economy. I was blessed. I had just paid off my car in November 2007. Trump 2024! It will be the best thing you can do for the economy!
As a millennial with two kids in daycare, we are paying double what our rent is for daycare. I make just under 100k a year my husband works two jobs and we still can not save for a house because of daycare expenses. We just paid off one of our two cars and I’m really disgusted with the older generation thinking we just don’t save or we spend too much. To live and do the bare minimum, go to work, eat, cloth our kids (we only get clothes and shoes for ourselves when we have holes in clothes). We are living during a time where we are paying for the 1980’s mistakes. We were babies when most of the country started to live off of credit and now we are paying for it. These big corporations and people in the 1% hiding money need to pay more in taxes.
Interest rates effect debt, so one must strive to eliminate debt. No mortgage loan, no car loans, no home equity loans no re-fi loans. Keep your credit cards paid off. Drive a used car that is 10 years old and there are many of them out there for sale that will last a long time if you have a good mechanic check the car/truck out ahead of time.
Im tired of being lectured to. I live paycheck to paycheck because a college education costs as much as a small house. Im not irresponsible. I send my kids to college. Its not my fault that housing and education and health insurance which are basics are absurdly expensive.
I had 33 years on my job, when I retired my house was paid off ,all credit cards and my car ,and I am living my best life on my own
Congratulations! You eliminated alot of stress and can actually enjoy being retired.
@@fendiboots4481 thank you
Very motivating!
Good for you, Ma'am! So happy to hear successful stories like yours!
@@lazvegaz thank you,my mom and dad retired at 57 years old, paid their house and car off, and never had a credit card
People don't realize all of the extra costs that come from a bigger house and nicer car. Just because you can afford the payment, doesn't mean you can afford the upkeep, insurance and taxes.
Very true. So many folks brag about how much the house has gone up in value, failing to disclose how much they spent on property taxes (2% per year?) and Maintenance (1% per year?); maybe $15,000 per year on a $500,000 home?
@@treesnmoguls People hear what amount they are approved for, and proceed to buy a house worth that much or more. Bad idea. That's a good way to be "house poor," because like you said, costs do go up. Regardless, wouldn't you rather have some cushion at the end of the month instead of having to budget down to the penny? This is why people don't save for retirement, because they have nothing to save.
Agree. I feel rent is not throwing away your money. Lots of wealthy or well off people rent. Many also think of tax benefits as a reason to rush into home ownership. Maintenance most definitely creeps up on people, pool, a/c, leaking roof, back up/broken drainage, etc. Invest in your ability to increase your income.
Facts All day in America
Exactly ; add in the Pontoon boat 🛥️, brand new kid’s toys , eating out @ restaurants & vacations; those all add Up. The rich /high income earners have a lot of upkeep to do🤓🤓!!! The older I get ; the more content I am in our 1200 sq ft ; 980💰💰A month’s mortgage . I used to want A big home till I got to my mid 30’s & realized all those material goods ain’t all that !!! Live A Simple life & make long lasting Memories instead!! Material goods turnish & lose value over time !!! I am still learning to manage my money better 💯.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too 🙏🙏🙏
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value.
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name "Collen Janie Towe" and everything changed. In the first quarter of this year i made $370k and counting.
@@joshbarney114 Same thought when I read the comments from people. as if it's that easy! You can't give what you don't have. That's why as many as who go into the market with little to no knowledge will continue to feel the full downsides of stocks when it happens. I personally need some guide with regards to my 401k. How can I reach Collen Janie Towe?
@@eloign7147 Exactly the point! quickly do a web check where you can connect with her, and do your research with her full names mentioned..
@@joshbarney114 oh! i never take this advises online seriously, but i checked Colleen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@@AstaKristjan I agree with you. I ventured into stock with less than $100K, and now I'm about 17K short of half a million dollars. Credits to Jennifer Puckett Hunter. She's verifiable.
@@simonbad Fantastic! can u share more details?
@@Erinmills98 She’s a highly-sought out adviser, so I’m not certain she’s accepting new intakes, but you can give it a shot. It wouldn’t be proper to just leave her number lying around, but she has a webpage you can look at if you google her name.
And imagine if the wrong side wins and all the social safety networks are slashed. People in America will need to immigrate to other countries including Mexico.
Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further
The main problem is that most folks don’t care about anything other than football, Basketball and Music etc. They find it normal to take credit card debt which will cost them 20percent per year but considers it risky to invest their money and make 10percent or more per month. Learning to avoid high interest debt while also learning how to put your money to work for you by investing is a very powerful combo
Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors who can help shape up your portfolio.
Please i want to learn how to manage and invest my resources, can you leave behind the name of the F/A guiding you
I have "Helene Claire Johnson" as my investment advisor. She has a solid reputation in her field and is a true genius when it comes to diversified portfolios, which help portfolios be less vulnerable to market downturns. She may be a name you are already familiar with; a Newsweek piece helped me to do so. She's a Google-able person.
Thanks for the info, i found her website and sent a message hopefully she replies soon.
I have been watching here on Oprah show, I consider myself a wise person when it comes to money but I learned to live below my means because of Suze and , car , paid off no credit card debt, close to paying off my house while raising 3 kids as a single mother. God is wonderful to me! And Thank you for your teachings! Great video!
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@martingiavarini Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
@@hermanramos7092 My advisor is Catherine Morrison Evansshe’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@martingiavarini I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
First of all, You could lose it all and you could win it all. It goes both ways. Secondly, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@DanLeahfort That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the advisor you're using.
@DanLeahfort I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.
I do have saving’s account, kids savings and salary deposit accounts which are also all Offset account against home mortgage. You could say I make 6,5% on them as long as they offset the mortgage. Also paying mortgage every week rather then monthly would save you tons of money
My husband and I paid off our house before pandemic and paif off our cars as well. So yes, being no debt is wonderful feeling. Thank God, to have blessings like it.
I think you are right. I still have a house to pay off but I got car, and all credit cards paid off and some savings and it feels so good to not have these interest payments to credit card companies every month.
Lifelong Govt hacks ? Sure sounds like it.
The truth is that Americans strive to keep up with the Joneses. Other countries have lower expectations in life, they are happier with less
Other countries are keeping up with US as well. Some other countries are actual Joneses.
I am super impressed by the fact that Suze Orman is still rocking at her age.
I remember watching her show, "Suze Orman Show" twenty years ago and
I can't believe she is almost the same after all this time. God bless her!!
I can't believe the close up of the camera. I want to scoop some chocolate icing off that cake.
I did too!
Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. This global collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
There are lot of ways to make a killing right now, but such high-volume near impeccable trades can only be carried out by real-time experts. Trying to earn big in this down market without an advisor is like trying to win the Indy 500 riding a llama.
I'm sure the idea of an investment-Adviser might sound controversial to a few but based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 580k within 16-months from an initially stagnant Portf0lio worth 105k.
Inflation is high here, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
Absolutely!!! 'Colleen Rose Mccaffery’ is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, look-- her up.
Thanks for this tip, I found her on the web and I have booked a session already
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@kashkat987 That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@MIchaelGuzman737 Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
Her name is "JILL MARIE CARROLL", can't divulge much. Most likely, the internet should have her basic info, you can search her online as she is SEC and FINRA regulated.
@@MIchaelGuzman737 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I first knew about Suzie when she was on Oprah helping people get out of debt. I followed her financial plan to get out of my $10,000 debt and it took me 1 1/2 years to do it. Her book, “The Money Book for the Young Fabulous and Broke” was my financial bible
I first leaned of Suze twenty years ago when I saw her on PBS. I adopted and still live by many of the things she is saying. I am retired now and still save and invest a little each month, you cannot take anything for granted, and you must plan for the worst.
Take care of yourself. You are your own best advocate. It's not your employers, parent(s), friend and / or the governments responsibility to take care of you. Until people take their own financial responsibility into their own hands, they will always be a self made victim. It's not fair to expect anyone else to clean up your financial mess.
Started watching you in 2008. Listening to you I was able to purchase my 1st home in 2010 for $96,000 Just sold it for $245,000. Purchased a new build inventory home for $279,000 appraisal was $335,000 @4.125 rate. Thanks for helping me create Generational Wealth. I'm debt free other than my mortgage 💙
I hate to tell you but you're just created more debt for yourself. A home is a roof over your head and it's value can't created wealth for you. Investments that create yield ( income) is what creates generational wealth.
@@ShamileII My friends said the same thing in 2010 when I stopped renting & purchased my 1st home for $96,000 after the housing market crashed. Now they're in the same position 13 years later as rent has increased significantly 💵💵💵
Your house is a liability my friend, even though you feel differently on paper. The market is overvalued and at some point your home value will reverse when there is a correction in the market. During that dangerous time when it’s upside down, hang on to the house and ride it through. The value will eventually recover and rise over the years. Best to you.
Suze is speaking the truth. I purchased her books decades ago and followed her advice and been out of debt for over 13 years. One credit card never carry a balance. Live below my means and use the 72 hours rule before I purchase an item to make sure it is a need not a what.
JUST because someone is making 6 figures, DOESN'T MEAN THEY HAVE ANY BRAINS !
THEY are living off of their credit cards, full of debt
CAN SEE THE CRASH FROM HERE !!
I make $140,000 a year and can't buy a home. Debt-free, car paid for, plenty of savings, retirement, and yet scared s***less to buy a house that literally doubled in price AND interest in 3 years. A decade ago I bought a home with $30,000 income in the same area. Just woke up one day and had a real estate agent by noon. Oh, how times have changed!
My portfolio has good companies, however it has been stalling this year. I’ve approximately $700k stagnant in my reserve that needs growth, any suggestions to grow my portfolio will be highly appreciated.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Suzie really needs to be back on tv informing the country. There is a vital need for her brand especially right now.
Suze changed my habits years ago. I turned into a big saver. My late husband and I used a budget from day one of our marriage. We were married 51 1/2 years when he passed . I have a mortgage of less than 3% interest. I have no other debt. I have a healthy savings account and a healthy income. I continue to put money in my savings and put extra principal payments on my mortgage. I am one of the lucky and smart ones ones that has never lived above my means.
Why have you not paid off your mortgage?
Was wondering where Suzie Orman disappeared to. She was one of the earliest personal finance people I used to watch.
After she was scamming people with her debit card promising to build credit, there were quite few years she didn’t make public appearance. I guess, she thinks people forgot
@@irinab7524 yeah...
Scammed people. Trying to reinvent, rebrand. Stay away from her bogus advice you can get free online
@@irinab7524 this is a new idea she selling.....ESA..employer saving account....just save it yourself and don't tangle it up with employer....employer is not dedicated to worker.😮
@@focusedfreebird no kidding…..after all her scamming I always expect new trap
I feel so fortunate, saved $170k in my first three years of practice post residency and retirement has grown to 182k in 3 years (unmatched 403b account that my employer fully funds). I live on 80k per year as a physician and will probably never change my lifestyle bc I have more than what I need. My colleagues are buying lavish homes and cars and I wouldn't be shocked if some of them are also living paycheck to paycheck
It's the spending that have people living paycheck to paycheck. If you're not spending and only using your funds to live (eat, pay a reasonable home mortgage, and pay basic cheap utilities because or home is reasonablen, small, and not grand) then you will definitely have money to save - especially when you're income is a physicians income.
@@ruthhnry 💯💯💯
You are very smart!
My soon to be Ex is a physician. some of your colleagues are most certainly living paycheck to paycheck because we lived very modest trying to pay off student loans for five years, and I don’t understand how these people can afford 2 homes, lavish vacations, high end cars, taxes 💸.
I finally had to file for divorce because of some choices she has made. Now she has to pay alimony, lawyers, soon to be child support, she will loose half her 403b account, house.
Unfortunately 5 years into her career she is back in an apartment….
Be smart, Put your family 1st if you have one, if you don’t…. Prenup.
@@joe7665 oh man!! I’m sorry to hear that!! My fiancés name is Joe actually (small world). We are definitely doing a prenup to protect us both (he has no debt and about 1/2 mil in investments meanwhile I have the same amount in student loan debt). I hope she learned her lesson and grows from this
@@pricklypear1111
1st off CONGRATULATIONS!…
But I think she just got burnt out and started looking for excitement to be honest.
We paid over $400k In Student loan debt in 5 years, 2 masters, 100 published papers, wrote chapters in books, She was a little to ambitious. She competing with all men.
I never had debt, great credit, and I had a great job to help pay for her interview season for her fellowship position, which costed about $25k for almost 30 interviews.
My words of wisdom to you would be… ALWAYS put your man and family 1st! Communication
and everything will work out fine…
Work will always be there
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
YOU DON'T NEED TO BE SHOCK BECAUSE I'M ALSO A HUGE BENEFICIARY OF expert MRS JANET
Here in Texas Expert Mrs Janet carries out the both orientation and mentorship
potentials
I'm a huge fan of crypto, I hold few coins in my wallet, while I trade the rest with my Expert, Mrs Janet She's really Good
Dear Suzy, God has used you to be a blessing to us!!! You taught us in 1999 about the Roth Ira and how to invest in it. It is helping us alot today. We would have never know about it had it not been for you teaching us about on PBS. God bless you for what you did for us and for all the other people on PBS. I wish I could give you a big hug for what you did for us. God bless you, Michael Stevens.
Our Retirement Ranch homeowners insurance went up, auto insurance x 2 vehicle's went up, property taxes went up, we are debt free we use cash envelopes and we do have our 12 months of an emergency fund. ❤ great video
Thanks for your comment! We're glad you enjoyed the interview.
I’m 67 with multiple streams of income, planed well and living great.
I’ve been watching suze Orman since early 2007 when I graduated from college in May 2006. I really love 💕 her advice! Thank you so much 😊
She's usually wrong.
@@davabaye2656 I respect 🫡 your opinion
@@PraveenSrJ01 She and Ramsey misled a lot of people, I was a fan of hers too.
Thanks your comment, Praveen. We love to hear that!
@@davabaye2656 many years ago she said if you want to retire well, save at least 6% in your 401k - best advice ever. That definitely was not wrong advice.
I love Suzy Orman and have listened to her for years. I do not do any credit cards or borrow from the banks, my 2 properties are paid for. It is amazing. ❤
After a year of the Pandemic, I looked at all of my debt (husband's too), thought of my past practices of buying mostly chit I did not need but WANTED. We did a 180 of everything we did, we tightened our belts, (OT was great, had too much work) we paid off ALL of our debt March 2023. I sleep better and thankful I have 17 years of PERS I never had to think about. Now, I am maxing out my DC. Living through 2008 taught me a few things and now I we are prepared to prevent crap from happening.
Basically people don’t live like past generations- they don’t live with in their means.
Taxes. Health Insurance. Home & Auto Insurance. These $$$ numbers dwarf anything from previous generations. YaYaYa taxes were once 90% on the wealthy. Dont be stupid. No one paid that.
Suzy I assure you the prices of chicken and eggs aren’t coming down. Every two weeks I am spending more on same products. These prices are here to stay
I find extended warranties on cars aren't worth buying. Car dealerships are money grabbing dogs. Suze I love u & I've been following u for about a decade. U have been a great help to me. I know u aren't crazy about life insurance, but I want to leave something to help my G-children. Thank u for your financial wisdom! GOD bless u My Precious Sister!!!
I am so glad someone finally brought this advice into existence! Suze Orman has been preaching about a certain amount of savings for decades but never have I implemented this advice but to have this would be better than tapping into my retirement savings!
Savings are not the best way to get ahead, nobody should have more than 3-6 months cash. Otherwise the banks make so much more from your money. Don’t be fooled by these stupid videos. Seriously sake your self, when did you ever need to come up with 10k fast other then for something you wanted.
Her advice is priceless. Thankyou.
@@leonhenry4861 if you put the 12 month emergency savings into a high Interest savings account, you will most definitely make some money while it's sitting there for your EMERGENCY that will bound to happen.
Thanks Suzie for keeping it Realistic,I'm soon to be 60 and is working towards living debt free,car already paid off, paying extra towards my principal on my home when I can, would like to be free from it all by the age of 65-67
For salary earners having a passive source of income is the best thing you could have , because aside the the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor 'Camille Alicia Garcia' , who has been doing a wonderful job
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor
Not at all, having monitored edge my portfolio performance which has made a jaw dropping $483k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently.
@@hunter-bourke21 I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
My financial advisor, '''Camille Alicia Garcia, is a highly qualified and experienced professional in the financial market. She possesses a broad understanding of portfolio diversification and is recognized as an expert in this field.
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
This was a really interesting interview. I don’t have any credit cards, loans, or overdraft. I’ve been in debt may years ago and it was awful. I try to save as much as I can, buy what I can afford, and work hard to get money
Same here. Learned my lesson 2 decades ago. I'm 💯 debt free...it's amazing.
@@mmp495 it really feels good. I felt so powerless and stressful when I was in debt. I told myself that I never wanna feel like that again.
It’s better to pay everything in cash and avoid loans if possible. You don’t have to cut up your credit card’s just put them in safe box and locked them up. Only charge 100 or less on your credit cards to keep them active.
Thanks for your comment!
No. It's actually cheaper to pay by credit card so long as you pay it off on time. 1-2% cheaper than cash, due to cash back incentives.
I’ve always loved Suzie Orman … what I pray to nurture in me is the patience and the thinking it’s too little money to save as such it won’t make a difference
Honestly this younger generation HAS it better in terms that they have the internet at their fingertips AND they have a lot of investment platforms/apps i.e Public, Robinhood or WeBull just to name a few where they can easily get to know how to invest in wall st. or retirement. I had NOTHING like this growing up and now I have a lot of catching up to do. Smh..
Same here. I had to go to the public library and check out books on investing 😅. I wouldn't change it for anything.
@@mmp495 Sh*t I would change it if I could. Do you how much we missed in compound interest if we had known how to invest at an earlier age like these kids know now.
I learned a lot with Suze years ago.
We paid off our house last yr. Had a 30 yr mortgage and paid it off before 9 yrs. It can be done you just have be consistent, have goals and live like no one else. With inflation as it is it is nice to not have debt. Btw still working in early forties.
You can cut up your credit cards and not use them but the banks will close them for lack of activity
Lowe's will
Haven’t used my chase slate in 2 plus years. Can’t believe it’s still open
Bank of America closed my account after 18 months of no use. It was a 27 thousand credit limit. That dinged my credit score.
Wow. Interesting but if information regarding the timeline. Crazy limit too! Not that I know from experience but, I’m sure it will recover, right?
The banks will send you an email a few months before they close it. I keep mine active by making a single purchase once a year and paying them off right away. But, many people don't have the self control to have a physical credit card in their wallet and not charge it up.
It's never how much you make it's how much you save. A wise man once asked me do you wanna look rich or do you wanna be rich?
Did Suze Orman just gaslight listeners saying inflation is no longer problem and car princes are starting to come down?😂🥴 We’re just getting started with what they have planned.
Yes.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
It is recommended to seek the assistance of a financial advisor or broker to diversify your investment portfolio through the inclusion of commodities, inflation-indexed bonds, and stocks of financially stable companies, rather than relying solely on growth stocks with uncertain future earnings.
@@jose2212- Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 950k within a year, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@Blitcliffe I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?
@@Sopknapp My adviser is "Mariam Sandra Milner" You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.
@@Blitcliffe Thank you for this amazing tip. I verified her and booked a call session with her. She seems Proficient.
Suze Orman is my first financial shero!!!
WTH is shero? Are you one of those pronouns champion?
@@tdgdbs1 The word shero has been around for decades. You must be young.
I don't believe that's true that people don't have $400 to cover an emergency. It feels overstated. People are still going out to eat, traveling and buying new cell phones every year. I'd believe they don't have $2500 but I don't know anyone that can't find $400
Deviation that's why they don't have $400 emergency fund. They are living a wastful lifestyle.
I don’t have a credit card .. just debit and cash 💰 … my SUV is paid off since last year … and got rid of storage … saving lots of money! You live and learn you know… so now I’m savvy with money!
Suzy, I'm 40. I've been living too loosey Goosey for too long. I'm a trucker who went back on the road living in a truck to pay off my debt. I gross 1500 to 2200 a week. I just paid off my first small loan. I'm ready to change my financial life. My problem is inflation hasn't been a factor. I've always made enough money to buy whatever I want. And that's the problem. I'm gonna fix it.
I used to love watching Suze Orman about 20 years ago
My rule is never put on a credit card that you cannot pay off within at least 1 or 2 months (I have a zero interest rate until November). Suze's book, The Road To Wealth, helped me become debt-free and I am doing everything I can to remain in this position. I met her years ago and she autographed my book. She said I was a beautiful man. She is a gorgeous lady too! 😁
Down sizing would be nice but as we know and have heard on this podcast the cost of living has gone up which means to downsize would be more expensive then staying where you currently are. Interests rates are through the roof. Even rent is at a all time high state to state , higher then when the pandemic was in full effect.
Not being able to save 400 is ludicrous if you’re still working.
This is the worst idea doing it through your work. Make an allotment to your bank before you get your check. This is why people have trouble in retirement because they are not handling their own money. Your job is not your savior. You are creating more wealth for your employer.
Agree....your employer should not be your money manager. You can save it yourself in your own account. You must save it yourself. This is awful idea. Good luck getting FREE MONEY from employers these days. Ha ha... 😮
And employees would do the exact same thing they are doing with the 401-ks, taking loans out or closing them altogether. . Employees can simply have a certain percentage or dollar amount per paycheck auto deposited to a savings account and employers already offer this for free.
I was born in 1943 England I attended a grammar school where I received an academic education. I emigrated
to Canada when I was 20. My motto throughout my life has always been, " look after the pence and the pounds
will look after themselves". I am sure Suze would agree.
People need to live within their means and make better financial decisions. It's a mind set and knowing when and what spending money on, pretend you're poor saving every dollar available. Credit cards are evil and should be used sparingly. And if you're living beyond your means, make major decisions immediately to prevent financial hardship in the future.
Yes make your finance decisions immediately...and have a backup plan to rebuild what you spend.....😊
You are 100% right!!
Yes the word the Bible says you will be a slave to the lender … even Jesus taught on that
💯 accurate
So if you do all of that, when do you live life?
Interest rates are not high. They were artificially low during the pandemic. They have simply returned to normal. The problem is Americans have amnesia and can't seem to remember what happened last week much less 3-4 years ago. Also they can't distinguish between wants and needs. No one needs a $1000 phone nor do they need $4-5 dollar cup of coffee. They do not need to eat meals at restaurants, etc. In other words, many people do not understand how to manage money.
I have always liked Suzie. She knows the truth. 😮
WOW, Susie, this is so true! In January my fico was 843 and now it's 600. All my emergency funds are depleted.:(
I"ve heard several financial people, The Marcus Garrett, Michelle Singletary, Carol Hunter , Crown Financial , Focus on the Family, Deborah Smith Pegeus state that in 2013, more than 40% of people DO NOT have $400 in savings for an emergency.
I dont have much, no 401k. What i have is a lifetime military & VA pension and health insurance for life. I don't owe a lot on credit cards either. My car is paid off.
Great discussion and interviews. Thank you. I always learn something new from Suzi. I own a number of her books.
First time watching this channel. Some really good subject matter and it kept me watching until the end. I'm going to look out for more of your videos! Thanks 👍
I’m currently watching this as I type this comment out
Thanks for your comment, Martin. We're glad you've enjoyed the interview!
It'd be interesting to experience what 'high income' is like. As of this moment, I could manage a $340 USD emergency with cash (I don't even have credit) and my household monthly income is $1650 USD (disability benefits x2). I live a simple, debt-free life - more income would equal more security for me, not more flash and sparkle.
My social security and pension more than pay my basic bills. But even old, stuff still happens. You never outgrow your need for a emergency fund. I am still saving and investing . When something comes up I general can just pay cash . I also have been able to help family and friends. Men also can have a nurturing nature. That is not a female or male thing. It is a human thing.
Make sure your family and friends pay you back or they'll keep coming back!!!
I always ❤ the way Suzie dresses and adorn herself...she is such a class act
Is important to have your lifestyle below your income level.
Thank you Bethan for sharing this incredible insight!!! People need to know all of this useful information. I truly enjoyed watching this. Keep up the fantastic journalism!!!
I used to wonder how all my co-workers were going on vacations (some every year), going parties, at the best hang out spots. Every year i would refuse to take my bonus (over 10g in shares) for the past 18 years...the dividends would go into a separate account. I have and still is driving the same care for the last 18years...some of my colleagues are on their 3rd/4th vehicle. I have never had mechanical issues because i take good care of it. My buddies laugh and always ask me when am i gonna upgrade😕. The kids went to the best private schools & are now entering university...soon i'll take the lady's advice i.e telling them "handle yourself". Just finished a renovation (with big help from my parents...for longterm benefits of rental)...took the craziest loan that take $10,000 per month...that has now come down to $5000 per mth because the bank's interest has been paid. It was those shares i mentioned earlier that made it possible because its value increased significantly over the years. The mortage was taken out on a 10 acre estate for agricultural purposes. I dont have any significant money saved due to these investment. I have no other debts except the one loan & i only have one credit card. Most of the ppl i know pay rent, and those buddies don't have much savings i have come to realise. Also none have take on the business venture that i have put myself in. I'm thinking, if all fails in the financial system i would still have food & livestock via the farm. Do you think these were viable economic decisions i have made or was there a better approach?
Never compare yourself to others because your financial situation is only yours. Im just a teacher but have lived a much more "expensive" lifestyle. Have traveled a lot & been blessed with a high standard of living in general. Zero debt. I'm sure my coworkers wonder how I can afford it all & to be honest its none of their business. I'm 50 and about to retire from teaching with a nice pension.
@@pearlperlitavenegas2023 zero debt...wow...that is mgm't on another level
You are doing an amazing job of managing your finances! Your wisdom, common sense and rationality have reaped your financial gains! Congratulations!!!
@@debbiecreter2005 thank God for that...still have some time before we "reap".
How about coming up with a plan for people that are self-employed? We don't get steady paychecks. Our income can change from month to month.
Dave Ramsey has a great explainer for people with irregular income. Just google “Dave Ramsey irregular income budget”
Good point!
Roth IRA’s and self directed 401k might help.
@@highbrass3749you need a job for these. Self employed go with SEP for retirement. Question is how to manage unsteady income……has nothing to do with contributions to retirement plans
SEP
Lovely host(ess) moderating -- humble, respectful and empathic.
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me from a huge financial debt with just little investment, thanks so much Mrs. Debra Hindman
l also invest with mrs Debra Hindman, she charges a 20% commission on the profit made after each trading session, which is fair compared to the effort she put in to make huge profits.
This is not the first time I am hearing of Mrs. Debra Hindman and her exploits in the trading world but I have no idea how to reach her..
My first investment in mrs. Debra Hindman gave me the confidence that led me to invest without fear of loss. I have already taken 3 of my friends to their guide and they are fine.
You can communicate with her on TELEGRAMS with the user below
INVESTWITHHINDMAN💯
High Income doesn’t equal High Net Worth. Income can be gone in a second.
Do the Roth to retire later but dont forget we live the journey of life so how about buying undervalue real estate and renting it out - earn cashflow as you go while your investment grows, esp with inflation making homes more snd more unaffordable, prices will continue to grow with cash being pumped into system as well as crowds coming into this country.
Wow. Your story was fantastic. Jesus is enough!! Amen, his peace is perfect!!
I have much less in bank savings, because I moved my 6-figures out of a "too big to fail" bank to pay down my 2.5% interest rate mortgage with 28 years left.
I want to be completely out of debt, including my mortgage, and without counterparty risk as soon as possible before the Greater Depression hits hard.
I haven't used a credit card in several years. I pay with cash or with debit card. I owe nothing and I have positive cash flow above my expenses.
For more than the last 20 years, I saved and only paid cash for my cars.
Why pay down a 2.5% mortgage with inflation being almost 3x that?
@@advantageisthename8186to pay off debt like they mentioned.
I thought people could afford $400 but they were putting it on credit cards. Yeah shocked me 🤯
We need Suzie back
Thank you, Suze for being gracious with the name pronunciation correction.
Did I misunderstand, or did she suggest people work until 70 or older?
Suze Orman is a big proponent of waiting until age 70 to start collecting social security. She also recommends that you reduce your spending, save and work for as long as you can. This is really just simple math. The lower your expenses and the more you set aside, the more you will have to spend once you leave the workforce. Simple.
This is one area where I agree with Suze. Why? because again, it is simple math. For every year after 62 you put off collecting SS you get an almost 8% increase. If that money were in an investment account today most of us would kill for guarenteeded 8% return.
I have friends that are 62 retired. They say they could collect SS because their advisor said they could pay their bills based on SS and the small amount they have in retirement accounts. That's fine but it gives no consideration to any emergencies, vacations, fun or just a general increase in things like property taxes.
Another thing is say at age 70 you leave the workforce that means you have less years that you need to spend your nest egg. A couple age 70 with a million in their 401K might have income as follows: Social Security $3200.00 x 2 x 12, 401K withdraw at 4% $40k, maybe one has a pension say $30k. That adds up to $146,000.00 income per year. If you have no debt and paid off mortgage and an emergency cash fund, you are doing well and will have little to worry about finances wise. It all comes down to personal choices.
@@thomaschew2191 People like you are why things are so bad in America… Accepting the bar minimum from a government that allows a cartel to tax you… Economia has a poor cast on purpose. You perpetuate the rhetoric for the masses whom are the real currency, to just go along with this bs system like cattle.. You are playing to lose.. That’s the bar minimum…. These oligarchs have to be stopped.. The USA is literally preaching democracy while practicing communism.. Ignoring the human values of the masses and catering to oligarchs……
It's awful advice for anyone who has invested and lived within their means. By the age of 70, our Go-Go years are behind us. I can't imagine working until 70. And guess what. A lot of people in stressful jobs will never live to collect that S.S. money. Studies have shown that the earlier one retires the longer they will live due to the ability to excercize, eat healthier, and be happier. So maybe 65 would be a good compromise.
@@ivanvarykino8202 When you are laying in your casket the last thing on your mind is the amount of money you did or did not collect from social security.
Nope. Not working til 70. Nope.😅
Suze was indeed right about the Tsunami.
If you are a high income earner, then you shouldn't be living from paycheck to paycheck. It's just poor financial management.
Suze Orman is some ways totally ridiculous and yet brilliantly realistic at the same time.
She actually has no credentials or education or background in retirement planning or financial planning. Yet she made over 50 million with common sense and being an “influencer”.
Agree 😂
@@wdeemarwdeemar8739 she has plenty of “education,” it is lived experiences. I know CFPs, CFAs who only have book knowledge. I’ll take Suze’s approach/advice over 99% of the “experts” any day. Like you said - common sense. But for some reason, people don’t use it when it comes to money.
I agree 100%.. you don't need an education to have common sense
Suze, God has used you to help us with our finances sincev1999. My wife and I each opened a Roth IRA because of you. It has been a blessing to us. Thank you for letting God use you to help us. We would have never know the value of thevroth had it not been for you. God bless you, Michael & Letty Stevens
I wish there was Y-TUBE and these videos in the 1980s ...to have started it by investing $100 monthly.
Same here Mary!
I was a toddler in the mid 1980s and am turning 40 years old this year
Thanks for your comment, Mary!
A friend who lives in Oregon has two houses, a fleet of luxury cars and expensive gallery art. I was shocked when he said he has less than $5,000 in the bank. I assumed he was a multi millionaire since one of his houses cost $1.3 million.
Knowing how to manage money is using the head and common sense must always save every paycheck be practical and avoid too much
spending not necessary just impt. like the basics I always think ahead of times when moneyed no worry peace of mind confidence thanks God ♥️🇸🇽🇺🇸
It’s not the employer responsibility to help you save your money
True - just look at your doordash statement and see how fast that builds up
Cook at home. Don’t do door dash!!!
All those little things add up. Death by 1000 paper cuts.
just currently I heard by minority mindset that for each dollar, you should spend $0.75 cent for your monthly expenses. $0.10 cent in saving and $0.15 cent toward investment and for each you have a checking or saving account. now if your 0.75$ cent wont cover your expenses then you need to sit down and do your best to cut expenses no matter what... you should live to your means always.
Millennials get a lot of criticism, however its worth noting how many global recessions and crisis events they have had to live through. The past few years suggest that we are living in an asset based economy and yet millenials are often priced out of the housing market, for example.
The part that bugs me is the stereotype that millennials are too dumb to pick a college degree. Newsflash - the world changes at a much faster pace now than it did 50 years ago. I remember back in 2008 how diligently so many of us picked our degrees and went into STEM. We had recruiters clamoring for graduates to go work for their tech and science companies for $40+ an hour. When 2008 hit and we graduated, they disappeared overnight and those of us who were among the lucky ones found ourselves working for $12 an hour with supervisors that didn't even have high school diplomas. You try being an 18-year old kid picking a degree before the worst recession since 1929. Even economists can't get the job market right, why would someone half their age be able to? There is no such thing as a recession-proof job nowadays and this upcoming recession will even be worse.
@@AB-fq4mr Yes, I think that millennials could have been provided with better guidance in regards to picking a degree. Although, in many cases even if they acquired a high paying job, most of their salary would be taxed away and eroded through inflation. Very difficult for them to acquire any significant wealth that way.
@@AB-fq4mr Hope you voted. It does make a difference who you vote for and what that person can do for the economy. I was blessed. I had just paid off my car in November 2007. Trump 2024! It will be the best thing you can do for the economy!
As a millennial with two kids in daycare, we are paying double what our rent is for daycare. I make just under 100k a year my husband works two jobs and we still can not save for a house because of daycare expenses. We just paid off one of our two cars and I’m really disgusted with the older generation thinking we just don’t save or we spend too much. To live and do the bare minimum, go to work, eat, cloth our kids (we only get clothes and shoes for ourselves when we have holes in clothes). We are living during a time where we are paying for the 1980’s mistakes. We were babies when most of the country started to live off of credit and now we are paying for it. These big corporations and people in the 1% hiding money need to pay more in taxes.
I don't know of ANY fund or financial institution that pays 25% interest.
Because there lot of selfish advisors who act they care about people but they only want to be millionaires by ripping working people off
Interest rates effect debt, so one must strive to eliminate debt. No mortgage loan, no car loans, no home equity loans no re-fi loans. Keep your credit cards paid off. Drive a used car that is 10 years old and there are many of them out there for sale that will last a long time if you have a good mechanic check the car/truck out ahead of time.
Im tired of being lectured to. I live paycheck to paycheck because a college education costs as much as a small house. Im not irresponsible. I send my kids to college. Its not my fault that housing and education and health insurance which are basics are absurdly expensive.