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September 30th, 2008
06:12 PM ET

Suze Orman Takes your questions

Program Note: Suze Orman will be on AC360° tonight at 10pm ET to discuss how to keep your money safe.

 
 

Have questions about how the breaking news will change the market; affect your stocks, mutual funds, 401(k)... your job?

Submit your financial questions here for Suze Orman and watch AC 360’ tonight 10p ET to get them answered.


Filed under: Bailout Turmoil • Suze Orman • T1
soundoff (220 Responses)
  1. Maria Acevedo

    Why can't the media..... in English explain.... the pros and cons of the bailout on each side. All I hear is blame... if you ask me....everyone keeps saying that Congress did not sell the plan too well, but I think neither has the media explain it to us. We count on the media to educate us especially on matter like this. So PLEASEEEEE someone explain the pros and cons........

    Thank you

    September 30, 2008 at 7:52 pm |
  2. sue parrish

    Hi Suze,
    I saw you on TV yesterday and I only wish it had been you all week explaining exactly what was happening in our financial system to the American people instead of all those academicians and economists, who not only disagreed with each other, but really confused the people. No wonder there is so much anger. Please make every effort to speak out whenever and wherever you can. People trust you, they understand you, and they listen to you. They will believe you when you say that we can't let the "free" market handle this alone.
    Thank you
    Sue Parrish

    September 30, 2008 at 7:51 pm |
  3. Carleen

    Suze,

    I have a lot of credit card debt (I know it's a bad thing), and I recently lost my job. I keep hearing everyone say call the credit card companies and they will work with you. I called 5 credit companies last week to get some help and none of them offered any solutions. What should I be asking for? Any advice would be great.

    Thanks

    September 30, 2008 at 7:47 pm |
  4. Ann

    Hi Suze,
    I currently have a TDAmeritrade Save Yourself account. Should I be putting more money into this account versus adding to my ROTH IRA? I usually put the max into the ROTH but at this rate, is it smarter to fund my MMDA?
    Thanks,
    Ann

    September 30, 2008 at 7:46 pm |
  5. Karol

    Suze,

    I recently lost my job and now find myself struggling to make all my payments. What advice do you have for a person who has a car loan and the car is now worth less than what is owned? I need a car for finding work. Is there any solution?

    September 30, 2008 at 7:43 pm |
  6. Ken/Jean Carley

    We pay our credit cards off every month. We own our home clear, We paid cash for one car and we financed a pick-up. We have a small retirement fund. We have a money market account which is our "slush" fund but we seldom use, in fact we often transfer funds from our regular checking account to the money market account. We have made good choices and we live on my Husband's Navy retirement and Social Security. We live within our means and I simply cannot justify bailing out a bank that pays a CEO that has been on the job three weeks millions of dollars when the bank goes down. He got his money first!!! Let the banks who survive have the business. Why should the taxpayer who will never see that kind of money have to bail them out? Wall Street will recover! How will they determine who should be the ones to pay back this debt that will be created.

    September 30, 2008 at 7:41 pm |
  7. Kimberly

    I have just started a company. They match upto 4% in 401k. I am wondering should I begin contributing to 401k or should I invest in cd's, money markets accts. etc. instead due to the market. I was told by a financial advisor that I should invest in 401k and mutual funds at this time and not stock? Do you agree?

    Thanks

    September 30, 2008 at 7:39 pm |
  8. Hesh

    Hi Suze,
    Just wondering, apparently Mr. Mccain mentioned something about using or the posibility of using the Exchange Stabilization Fund, What do you think about this? How big is this fund anyway, and can it be used for something like the bailout?
    Thanks,

    September 30, 2008 at 7:37 pm |
  9. flora

    Hi, i saw you on oprah show and you mentioned that this is the best time to buy stock. I have never invested in stocks because i don't know how or which to buy. I have a substantial cash and i 'd like to know which stock share you would recommend. Hope to hear from you soon.

    September 30, 2008 at 7:37 pm |
  10. Greg Dearinger

    I think I am confused. The bailout is because the banks are in trouble because of all the forclosures. But aren't most of these subprime home loans forced to carry PMI which guantees the loans are paid back to the bank?? And shouldn't these banks just quit loaning money for the time being? And shouldn't these banks have profits that are stockpiled to weather an economic storm such as this one? Or do they operate week to week?

    September 30, 2008 at 7:34 pm |
  11. Stella

    I have about 100K in my 401K. 60% of my 401k in Vanguard International Stock Growth Fund and 30% in Vanguard International Stock Value Fund. The other 10% of the 401k is in money market and Vanguard Total Bond Index fund. I know I do not have the correct mix of asset allocation. The internation stock funds has lost 31% YTD as of 9/29/2008.

    I am 47 years. I plan to retire at 55. I still contribute 1K a month to my 401K but the new money is going to money market fund. What should I do with my 401K international stocks? Sell it? Or sell some of it and move it to other fund sor just ride it out?

    September 30, 2008 at 7:34 pm |
  12. Debbie

    Hi Suze,

    If a bank was to close will I be able to get to my safe deposit box also if the bank fails andthe account is covered by fdic do we get all our money in one lump sum up to one hundred thousand.
    Thank you

    September 30, 2008 at 7:34 pm |
  13. pamina

    Hi Suze,
    I contribute to both a 403 B and a Roth IRA. I pay my credit card bills off monthly. I currently rent an apartment, but am contemplating buying an apartment. I will not be looking to access my money in my retirement account for at least 30 years. Would now be a good time to invest in an apartment or should I keep putting my money in my 403 B and Roth IRA?
    Thanks!

    September 30, 2008 at 7:29 pm |
  14. Dale

    Why are we expecting the government to bail out Wall Street? These people cannot even balance their own checkbooks and have kept the US budget operating in the red! Why not let experts in the fields of economics and finance design a plan? People such as yourself, Warren Buffet, Steve Forbes, Donald Trump?
    Thanks

    September 30, 2008 at 7:29 pm |
  15. Ron Andreassen

    Hi Suze,

    Instead of a 700 billion dollar Wall Street bailout, why not give each taxpayer one million dollars. People would be able to buy back their foreclosed homes or purchase a home stimulating the housing market;, invest in the stock market stimulating Wall Street, have money in the bank to help with their credit, and be able to purchase things they want to stimulate the retail markets. It seems this would trigger the flow of money on a national level and cost the taxpayers less than one percent of the 700 billion, not to mention give a lot of people peace of mind.

    Just a thought,

    Ron

    September 30, 2008 at 7:29 pm |
  16. Mary V., Salt Lake City, UT

    Suze, thanks for being on Larry King last night! I loved that you reminded Americans that yesterday we lost........$1.2 TRILLION!

    WE......lost. People have the mistaken idea that Wall Street is a bunch of rich guys. Some are.........but, tell them, PLEASE, Wall Street is US!

    Check your 401ks, we lost $2000. In one day. Thankfully we had already moved our money to safe mutual funds and Treasuries.

    Please, Suze, explain to Mr & Mrs Average Joe, why we need this Bill to pass!

    September 30, 2008 at 7:29 pm |
  17. Malcolm

    We would appreciate your advice. Just retired at age 68, our SS and pension income does not meet living expenses. We have almost $700K invested in conservative mutual funds and TIAA/CREF but we are considering moving this to more secure investments. We own our home and have no debt besides a condo in NC with a $100K mortgage and about $75K equity. Should we modify our investments?

    September 30, 2008 at 7:28 pm |
  18. Jordan B.

    Hi, Suze:

    I just finished school and have my first grown up job. I have a little over $5,000 saved up so far. When should I start investing my money and where? I want to make sure that I start my nest egg at an early age. (I'm only 22 years old.)

    Jordan B.

    September 30, 2008 at 7:28 pm |
  19. David

    I am 62 and have been retired for the past 2 years. My 401k is allocated on 60% stocks and 40% bonds. My other income is my pension and my wife's pension. I withdraw some funds on a monthly basis from my 401k so it is an integral part of my retirement lfe. Should I change my allocation to 50/50? Convert some or all of it to Exchange Traded Funds? Or take other actions to sustain my retirement fund flow. My portfolio is down 17% due to the last financial turmoil.

    Thank you for your advice.

    September 30, 2008 at 7:26 pm |
  20. Lorrayne

    Hi Suze, do you recommend any financial advisers that I could see here in Southern, NJ to help get my finances and credit back on track. Although I would would prefer to talk with you.

    September 30, 2008 at 7:22 pm |
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