I have one year left of my undergraduate education and I'm concerned for my future. How will this current economical situation hurt the job market for individuals of my generation?

Since other countries are affected by the U.S. financial crisis, will these countries also have their own “bailouts?” What does this say about the future of the global economy?

Lilibeth
Edmonds, Washington

You said that for those who have 10+ or 20+ years before retirement, to ride this out. But I cringe as I see the Dow plummet to 9,500. At what point do you say enough is enough? When the Dow hits 8,500? 8,000? When?

Lilibeth
Edmonds, Washington

Suzy,
I'm 72 years old and have my IRA in 60% stocks. Should I take them all out and what should I put it in if I do?
Thanks so much
Jeanette

Hi Suze, I’m worried about my tax-deferred 12yr. Fixed Indexed annuity linked to the S&P – however it does have a safety net 3% minimum guarantee. Was it a huge mistake to buy into this? (bought-2004) It looks like it is not insured with the SIPC – what if they go bankrupt? Huge mistake? After 12 yrs I can reinvest into a different annuity. What do you think I should do? I won’t need the money until retirement – 20+ yrs. Thank you.

Suze, What you would have done differently to solve the Economic Crisis? I respect your opinions and would be curious to know what you would have done.

Suze,
Do you think I might be granted an unsecured loan?
Tom

I just want a little of the 700 billion! Maybe I could have a "junket".

OK, I have seen you on Oprah, etc. Also, I don't have cnn and AC360 on my TV in Charlotte, NC. No one seems to be addressing us 63 year old retiries while we watch our IRA's lose 35% and dropping. Your advice of staying the course long term is getting scarry. I would like to see a recovery before I am 70 years old. Please respond by email.

I understand that Management; CEO’s/Presidents/Controllers, of the banks and money institutes in Europe, will be held accountable for the losses seen in their businesses. Why is this not being done in our country? Why are the CEO's in this country not being held accountable? Are they not in charge? Are they not the responsible ones?

Why am I hearing stories of bailout parties and golden parachutes? Where is the accountability?

In light of the GLOBAL financial crisis do you think we have had a terriost attack on our financial systems? No one is talking about this, but they once said they would strike from within. In this day and age a run on the banks will be done electronically. I am in the mortgage business and the foreclosure crisis has a lot to do with this but this has been coming down for a while and the emergency and swiftness of this crisis makes me wonder.

should we be keeping a certain amount of cash under the mattress so to speak?

1. Is now good time for me to join my job's 401k plan?
2. Why didn't the government use tax free United States Notes to bail out wall street?

Is it a good idea to get my money out of my 401k when my job closes and pay cash for my house and find another job to start saving all over again? My job is also offering a serverence package and we can take this weekly or all in one lump sum which is better to do?

We have tried to short sale, we have tried to re-work a mortgage with the lender, we have tried everything we possibly could to stop a forclosure. Many phone calls, many unanswered questions, and all we got was false hope. We saved all of our efforts and it seemed like we just kept getting "transferred back and forth". At one point we were told we could not afford a work-out, despite our plea that we could afford a monthly payment just $300 dollars less for 3 years. That was not good enough. So now what? With this bailout plan, and for its "intended purposes", how will this help people who have forclosed on a home within the last 4 months?

Why is nothing being done about the ridiculously high interest rates on credit cards? If the rates were capped at 10% (no more than 12%), it would ease the credit crunch. Look, a friend of mine has good credit. She was buying supplies to remodel her home on credit at 7.99%. Reasaonable. She did not miss any payments and paid more than the minimum. Guess what? The credit card company increased her interest rate to 24% for no reason except greed. This kind of nonsense needs to cease immediately.

Is it possible to create Wealth in the given situation were in now?

Energy - Nikola Tesla had "free energy concept" which noow can be charged minimally for housing and office buildings, etc. and it is not based on fossil fuel. WHy is no one taking this seriously?

He worked for Edison and got shaft. He partnered with Westinghouse and we got ACDC currentt and energy saving light bulbs. He was turned down by JP Morgan who made a decision to focus on oil...and now we have the oil crisis. So, why not go back to what Nikola Tesla engineerd?

How is it possible to create wealth in this current economy?

Hi Suze,
Can you explain the theory behind the why the bailout package was needed to boost the "credit crunch"?

Is it better to contribute to a 401k that does not have a company match or to put the money elsewhere.

I am 53 and as of last look my 401k has taken a 19% dive.

Thank you.

I'm 46. Married, three children. 18, 17 & 7

18 years ago I didn't know it was a bad idea to purchase whole life insurance. Should I cash it in and purchase term?

Recently purchased whole life for my husband, almost a year ago. When switching it to term do you do it asap or does it matter?

Thank you

I believe the bank crisis happened because Congress pressured banks to give loans to people who could not afford to pay back the money. If that is true, it is Congress that holds responsibility not President George W Bush, not the Republican Party, not John McCain – which are the three people or groups mentioned most often as causing this downturn in our fortunes.

Would like to hear Suze Orman's response to this line of thinking. Thanks

Since I first saw you on Oprah I have switched several credit balances over to 0% lines (almost two years now) and I have been paying down my bottom line.
I created an awesome spreadsheet with all by credit cards, utilities, luxury expenses, insurance & mortgage. I see at a glance what I owe, when it's due and our monthly income.
You have made me a fine tuned machine and we have paid off almost $20,000 of our bottom line. In three years we should be debt free.

Thank you

suze, just the other day i received a letter from sears credit card that they are lowering my credit limit from 15,ooo to 6,000 due to not using my credit card often. my question is my credit score is 770 will this lowering of my credit limit hurt my credit score.

joann
pennsylvania

when giving a house back to your lender am i to understand that they auction or resale it and i would still be responsible if there is a balance left? this was with countryside. can they attach your wages for this amount?

Suze:
In Indiana, we are facing skyrocketing property taxes and overcrowded schools. Hoosiers feel like we are going to get hit on both sides... federally and state-wise. I don't believe that anyone is going to be lowering taxes anytime soon.

What can we do to prepare ourselves for higher taxes next year and in the future?

My husband and I are in a pick-a-pay mortgage from a house we bought 1 year ago (I know). I understand the bank has waived pre-payment penalties so we can refinance, but I'm unsure when to act. Do I wait to see if interest rates drop and/or how the bail out might effect us or our opportunities, or do we act as quickly as possible? We got into this loan because we currently pay $1,700/month in day care and the logic was, after the 3 year pre-payment period, we would refinance as the kids enter school and daycare costs drop. We have very good credit and the home is still worth more than what we owe (but for how long – no clue!). I'm having a difficult time trusting the opinions of lenders, who all seem to want us to refinance NOW.....

Hi Suze, I have a 4.75%,15 year fixed mortgage with WAMU which was sold to JP Morgan Chase. I got an email from them saying that intrest rates could rise for some customers. They can't change the terms of my loan that is under contract can they? Or are they just referring to customers with credit cards, ARM's and HELOC's?

With the market tumbling more & more everyday, what is the best thing to do with my pension portfolio (403B) at age 63 years? I have withdrawn it from the stock market and it is in a money market A/C after loosing approx $10,000 since the market meltdown but I want to know what to do with it so I am not overcharged with tax & penalty.

Hello Suze,

I love your show and watch it as much as I can. I sadly got a collection account put on my credit report and in November I will have paid it off (Neary $5000!!!!) since it was first put on my account in April of this year even though this collection was about a late balance that occurred in January 2007 . I have worked hard to pay it off and even my collections manager tells me I'm one of his sweetest and reliable clients yet he says he can't take it off . I also told him the date of the collection was wrong but he told me having it more recent and paying it off this year will help me in the long run since it shows I can pay off my obligations quickly. However, this is still a black mark on my account and was wondering how best to try to get the collection removed off my report. I had a bad period in my life and want to move on and since that time (nearly 2 years ago) I have no credit card debt, I have paid all of my bills on time, I pay low rent, rarely eat out, don't have a car, and the only thing holding my credit score down is this mistake....I'm 23 btw..... What Can I do?????

Last week you said on Oprah, "If you need your (401K) money in less than 10 years, take it out of the market and buy Treasury Bills, or Treasury Money Market Accts, or CDs." Two days ago, a financial TV host said the threshold is 5 years and said, "Get it out of the market, THIS WEEK!!! My husband is 70 and still working. I am 61 and not working. As of today we each have a little over $5K left. My practical consideration for taking your advice is that I have no healthcare insurance & this could create an emergency fund. I feel it's a gamble to lose what little we have. My advisor says, "ride it out." My CPA recommends taking out from 50-60% and leaving the rest in. I'm confused and hesitating. I think I should take 60% out and put it into a savings account until I figure out where to put it. Please, help!!!

Suze, my husband and I have a 1 year old daughter. We looking at starting her college fund but we are unsure how to proceed, especially in this economic crisis. What is the smartest way for us to prepare for her college years?

I'm 70 years old and I am in a panic! I've lost more then a third of my IRA and don't dare to stay in the market any longer. What should I do with the remaining money in my IRA?

I have an annuity currently worth $470,000 in the name of my 91 year old Mom's revocable trust with 6 beneficiaries that matures in 5 years. The nursing home clause allows early withdrawal of the entire amount. Because of high medical expenses, she receives no benefit from the current 3% tax deferred interest, which changes yearly in May.

I have 2 questions: 1) How safe are Annuities in this current economic climate? 2) Am I better off withdrawing the entire amount and depositing it in an FDIC insured CD, which I'm assuming is the safest investment vehicle nowadays?

Hi Suze,
If it's a possibility that everything we throw at the crisis doesn't work, what will that result look like. Breadlines or something less frightening.

Lorie Ann, Buellton, Calif.

We'll be retiring within the next 10 years (we're in our mid-50s). Do we ride out this crisis, even though we watch our money in mutual funds and 401K drop daily? We own our home and have no credit bills (pay them off each month). We've always been great savers and we just don't know what to do now.

response to Indianapolis Sharon:

want to lower property taxes? vote in Conservatives !

Hi Suze,

I earn just over 98K annually. As a fed govt employee, I put away 15% of my salary into my TSP (which is diversified). I am not as disciplined when it comes to saving additional cash, and I have no credit card debt. The only debt I have is a mortgage and a car payment which has about 10 more payments. I am considering buying US Savings Bonds? Is this a good option, and if so, which series would you recommend? How can I save more money for my retirement? I am currently 35 years old and single.

Thanks.

Dear Suze,
I too am one of those average Americans that bit off more than I should have with a morgage. My anual income is about 34,000/yr with a morgage of 1250/mo. I sold my home at a loss, but I was falling behind on my payments. Escrow closes on the 7th of Nov. I will have about 15,000 left after everything. I have paid off all of my outstanding debt except for the parent plus loan I took out to help my youngest finish his last 2 years of college, and my own student loan as well. Payments are together 400/month. I am at a loss of what to do next, have no 401k, am 54 this year and need help with a plan. I am terrified of even investing any money, even in a 401k. My income has increased recently as I have traveled down to California to be with family and work there as a nurse. I am hoping you have some ideas for me. Sincerely yours, Terry

I had $200,000 in a Vangaurd Prime money market account. I have recently transfered this money to a Vangaurd Treasury money market account. Is this safe or should I put this into a FDIC insured bank?

Suze,

Love your show. I have a question, what should I do in these crazy economic times. Here is my plan, I have a luxury vehicle that has a high monthly payment and is costing me, but it is not my only car. My other vehicle which is paid off and I make a decent salary +$100K. I am in the financial sector and I want to be prepared for the worst case. I have a decent 401k and an emergency stash (which I would like to continue to grow to at least 12 months) It would be difficult to sell the car in this environment so should I trade it in along with the car that is free and clear and buy a replacement with a much lower monthly payment to free up some cash flow. I could also foresee payng it off in less than 2 years. The excess cash flow will go to payoff some minor additional debt along with the new car and then start to reinvest in the market when it stabilizes.

Your thoughts?

suze, we are a mess, we had to do an ARM refinance on our house because of an IRS audit that went back and snowballed into a huge mess... result we ended up paying them over $100,000.00... now we can't get the house refinanced at a lower rate (housing drop, things have been harder financially for us, we're self-employed) and we are in a really bad situation... we've lived in our house for over 30yrs. and now are between this and having had to use our credit cards for business reasons (like making payroll when things were really slow and paying taxes) we're in debt to the tune of 378,000. No matter how hard I try to figure out what to do I can't figure away out of all this... No one will touch us... I always pay everything on time, so that's not an issue, it's just everything has spun out of control... And selling our house wouldn't even help and that would hurt the worst because this is where we raised our 5 kids, we took a little cabin and made it a home for us all. No matter how hard my husband works, we seem to get futher in debt, we don't do anything, except home and church, it's crazy and I can't figure away out of all this mess... I have put some of the cards at 0intrest but I can't do it with all of them, and the banks won't work w/me... We're in our mid 50's, I just about feel hopeless. I don't have a clue who to talk to that can really help, I look at these "debt reducers" and don't feel good about them, and I haven't figured anyone locally who can help... Our house payment is over 2000. and that is crazy in itself, but it's our home...

Hi Suze!
LOVE the shirt you have on in the picture above. I would ask you where I could get it but I am keeping my money in the bank per your advice!

I'm in my 40's and have or should say had approx $245K saved in a combination of my 401K, Profit Sharing & MLynch Investments etc. which has now dropped closer to $210K . What criteria do I use to ensure that a mutual fund is "good".
Your're the best!

God Bless You

I see what is happening with the volatile stock market and followed your advice. I shifted 90% of my 401(k) to government -backed securities, but left 10% in stocks. I'm only 34 and have had my retirement fund a short time. Is this a wise ratio?

When I bought my house I put down 10%. I was told I had to pay mortgage insurance because I had less than 20% down. I'm sure all the people who lost their houses to sub-prime loans had to do the same. It was explained to me that I was paying for insurance on the loan in case I defaulted on the loan. What happend. Who are those PMI companies and where are they now? Is it still required to purchase this "insurance"?

should'nt the taxpayes now own aig ? 100+ billion shoud but it for the taxpayers.What did we get for our money?

What is the best way to invest money , (in my case specifically 25,000) that I have in a "risk free" CD at this scary time? I am 39 years old, I have an IRA and I do not need this money right away but I am weighing investing it into either real estate or the stock market and wonder which seems the better way t create wealth. With a real estate investment I would need to take out a mortgage, but with a stock purchase, I would just put it into a dividend producing fund like like you mentioned on your website and be willing to hold it for several years.

Hi Suze,
My husband and I currently have a 7/1 ARM loan at a rate of 5.875%. Our loan does not adjust until 2014, while it is a very good rate and a fairly stable ARM product, we would like to refinance to a fixed rate loan before our loan adjusts. Our problem is current market value. Our home is only 3 years old and was until April 2007 in a very thriving market. Since the bubble burst, we have seen our home value depreciate. Do you expect the housing market to begin to regain that value before 2014? We have excellent credit, a reasonable amount of savings (liquid and stocks), and what used to be a thriving 401k. I am a stay at home mom and my husband has a solid career in the pharmaceutical industry. So other than the value of our home, I can't see any other hurdle, barring any major changes in my husbands career. With the economy in such crisis, I would really like a believable timeline for us to have to work with. Thank You.

I have only been contrubuting to my 401k for about a year and a half now and had just over $3,000 saved at the end of August. Between
August 30th and today I have already lost $750. I know the rule is to leave the money there, especially since I am only 35, but I cant help thinking that the way things have been going in the last month, I will be lucky to have anything left by the end of the year. What do you advise?

Suze, I have just recently been reading about the "No bailout Act" I'd like to have you give your expert opinion on this subject. I was struck by the common sense of it all. I survived the S&L failure back in the 80s. Congresswomen Marcy Kaptur from Ohio is one of the sponsors. And it begs the question why didn't we have a choice in this most serious matter instead of just rushing ahead, especially since so many Americans had voiced their objections to the Bailout. The Kaptur, DeFazio plan has been done sucessfully, why are we not hearing about this. What do you think Suze, I really respect your opinion.

Hi Suze,

I just recently graduated college, have a decent job, low expenses, no debt, no loans, one department store credit card in good standing and $3K in savings. With almost NO credit, what can I do to build my credit in this credit crunch? Do I get a cash-backed credit card? Do I wait until credit lines open? I am a cash-payer for everything, how do I start building my credit?

Thanks,
Eliza in Colorado.

Suze,
It's nearly impossble for us regular taxpayers to know who to trust to handle all of this economic mess, who would manage it in ours and the country's best interest. Would you consider playing a significant role in the government to get us through this, and help us understand what you're doing in the process? Perhaps you could team up with Jim Cramer! I know you both would have to put your own interests on the side, and that woud be quite a sacrifice, but I think we need you as more than a show host or a commentator. Please consider it!

How much of my money should I be keeping in the bank at this time?

Greed has gotten us where we are today. All this quick fix stuff is not going to work. If you want to fix the economy you have to decrease your profit margin accross the board before anything will work.

Hi Suze:

My husband and I are in our mid 40's and we have a large amount of cash on hand. Is now a good time to put more money in our mutual funds? We already contribute the maximum ($15,500 this year) to my husband's government TSP plan, both contribute the maximum to our Roth IRAs, and our daughter's college education is paid for. My husband is an active-duty Army officer and his job is secure.

What more should people who are fortunate enough to be in the position we are do to help ensure our financial future?

Thank you,

Margaret

Suze,

I asked a question before about buying stocks while the price is low, but now I have another question. I am 28, have no credit card or student loan debt, own my condo, and have a great job that pays very well and I feel very secure about my future at this job. Should I stop spending as much as I have been now that the economy is uncertain, or will that cause even more problems and slow the economy down even more? Should those of us who are fortunate enough to have the means be spending the same way (if not more) in order to keep some money moving into the economy?

Thanks Suze!! And thank you, Anderson, for having on such a wise adviser!

Hi Suze,

For years I have invested each month in US savings bonds Series E to save towards the educational expenses of my two youngest daughters. One is a sophomore in college now and has not needed any of her bonds yet because she has scholarships. My youngest will probably have to use hers because her grades are not going to be considered for scholarships. I had planned that if there was any left of the savings bonds once they were done with school I would convert the remainder over to another series savings bonds and use it for retirement or an emergency fund. What type of savings bond would be best to do this with or are savings bonds even a good investment? Thanks.

Annie Kate
Birmingham AL

Hi Suze,

Small business 401K question.

My wife is in PR and has her own S-Corp. She regularly contributes to a mini-401K (traditional) plan managed by the business that was set up in 2005. I just learned that a S-Corp can now have a Roth 401K plan as of 2006.

Given that we're both 32, that I make a good steady salary that will continue to grow, her business is having an off-year, and that the value of the traditional 401K has shrunk with the market, is now the time to try to make the business plan change from a traditonal 401K to a Roth 401K?

It seems like a good idea assuming we can afford it – the taxes will be lower with the 401K value off and less of a burden with the business down. But I figured I'd ask -

Thanks
Erik

Hey Suze.......So Very glad you are back on AC360 again!!.......my question is, "How will this "Bailout" and the direction that the Economy is going, effect College funding??".........Pertaining to, Stafford & Private Loans for undergraduate and grad students, and Pell Grants at the Fed. level.

The college I attend is a State school, now branched under the UNC system (due to need of funds).....NC's Gov. and the General Assembly have Now CUT state college Funding by 2%, that's anywhere from $500k-2mil!!

So most colleges are "Buzzin" with talk of lack of state grants, scholarships, Banks pulling out of backing Stafford loans, Private Loans, etc. So I went and talked to "Financial Aid", and they stated, "Oh, you do not have Anything to Worry about!"??>> ….with graduation coming closer, and wanting to go to Grad school or Law school, "Will I, or ANYONE really be Able to Afford it?”

Suze,

What do you think about the Fed. giving almost another $40 billion to AIG AFTER it was revealed that some of their top executives went on an expensive trip to California.....AFTER the first $80 + billion they received? How can the government expect the general citizens to exercise fiscal responsibility when the government rewards bad behavior like this?

Suze help! I have investments iin my 401and 403B mostly in stocks. I have lost 35% since this free falling started. Where can I move my money as a safer investment option. Bonds, money markets? Which ones. I plan to retire in 10 yrs. Where can I go and get help in making these decisions, I called my management company, but they cannot make any suggestions. I'm afraid that I will lose it all if I just don't do anything and "wait" it out. HELP!!!!!

Hi. I was wondering WHY the government can't do anything to regulate these credit card companies charging me 29% interest rate (Providian a/k/a WaMu n/k/a JPMorgan). I always pay in advance and more than the minimum yet when I ask for an interest rate decrease they say there are no offers at this time. It is very frustrating and gives me no confidence in the credit industry.

I am 38, my husband is 39. We have 2 children, 9 & 4. Are you still recommending sticking it out if long term or should I stop dollar cost averaging into my roth ($416.66/month – which is in Vanguard total stock market index fund)? Would it be wiser for now to pay down my mortgage? I have 160K left @ 6% (orig loan was 188,700) and I am currently paying $150 xtra toward principal. Should I put that 416.66/mo toward my mortgage? I also have about 6 months of emergency savings in a bank money market account.

Thank you for your help!

Let me try again to ask my questions, they are important issues and need to be addressed.

1. I, like many Americans, work for the United States Governement as a civil servants, please advise us in what funds should we have our investments in?

2. I, like many Americans, have a incurable, potentially life threatening (or life threatening) medical condition. How are we to suppose to prepare (God willing) for retirement and for dealing with what is to come?

My two questions are for a segment of population who are ignored or overlooked.

Suze, I am eligible to enroll in my company's 401K at the beginning of November. I am planning on attending law school a year from now, which means I'll only be working for the company for another 12 months. Should I enroll in the plan or simply save my money for school?

Hello Suze, thank you for you time. I'm 30 years old and was struck with an extremely rare neurodegenerative disease three years ago. I'm on disability and am unable to work at this time. However, I'm still doing everything I can to progress and push forward by working hard to overcome, and taking college courses online in the hope of ultimately getting a good job that can accommodate my condition. I have NO credit card debt and around 10K in student loans. I just paid off my car loan, and budget to cover the rest of my monthly bills. I've trimmed my budget to the bare minimum and have worked hard to save up nearly $2,000. I've been considering investing in mutual funds (Money Market and Bond funds-less risk), IRA, Roth IRA, or possibly even in the stock market (because it’s down now-in hopes that it will go up). Considering my disabilities, what is your advice?

Hi Suze, I am 43, my husband is 53. We don't make a ton of money but we have been trying to do the right things - first, we paid off all our student loans (mine were huge) and we have no credit card debt. We have one car loan ($12k balance). We have been paying extra on the house and should be mortgage-free in 3.5 years.

We don't have a lot in savings, however. We've been plugging money into our 401ks for the last ten years, and had a balance of about $300k this summer. It's in diversified funds - mostly stock funds, some bonds and tbills. It's gone down a lot. We have emergency cash in savings of about $45,000, that's safe in FDIC. We have good jobs, and a conservative lifestyle.

My question: we're saving about $1,500 per month or more right now, as we have for the last five years. Where should it go? Into the 401K (my husband gets a 5% matching, he puts in 15%; I get no matching). Or emergency FDIC insured cash?

Thanks, Suze!

First off, I love your show.

I've been looking for a safe place to park my money (exceeds FDIC limits) and in the process learned about CDARS. The yield on CDARS is very attractive when compared to treasuries. What is your opinion of them and is it as safe as I interpret them to be?

Thanks!

Jack
Torrance, CA

I have lost $12,000 on my IRA in this market spiral, am 59 and want to know how long to wait out this downward spin. I can forsee loosing it all in the near future. I heard you say to hold on if you didn't need the cash in the next 6 months to a year. But now I'm wondering if your opinion has changed. Would it be wise to move it to something else? What would that be? How could this be done without paying large penalties and taxes? Thanks for your input.

My husband and I purchased a Shell Vacation Club Time share about a year ago. It seemed like a good idea at the time, we quickly realized it was not the time in our lives for this type of financial investment. We have not yet saved any money for retirement nor do we have any other current investments. We are in the process of "down-sizing" our monthly expenditures in an effort to save for our future. Naturally, the time share, which we have not used, seems like the first thing to go. It costs us $380 in monthly payments, along with $600 a year in owners fees. We have been approached by several different companies offering to help sell the properety, for a 10% sales fee and an amount upfront ($600-$1300). We are worried about of the legitimacy of these companies. It appears that many other people are trying to sell these time shares on-line. How is the best way to sell a time share? Or is it even an option in this market?

With these turbulent economic times, is it safe to put my valuables in a safety deposit box at a bank? If so is a smaller bank a safer choice? If the bank was to close will I be given notice by the bank before they close?

Thank you,

Suzanne

Prove us wrong Suze ! My wife and I both work and have 401k's. We are in our mid 40's. Wouldn't we be better off withdrawing all our 401k money and tucking it into a safe CD at our bank during these tough times ? Considering what we've already lost and will potentially
lose, it would be cheaper to pay the withdrawl penalty and end of year
tax on that withdrawl than continue to let the losses build up ! We could always just stick it back into a 401k when the market rebounds.
Blessings,
Russ

HI Suze:

I am 54 years old and I would like to know what do you think about
me buying some stocks while the market is down. I was looking at GM, Ford and Alcoa. I don't have any credit card debt or loans. Just my house payment.

Or should I just hold on to my money? I have about $30,000 in cash that is just earning less than 2%.

Sincerely

Ray

Suze Orman was honored the other night at the HRC dinner. Her acceptance speech was absolutely brilliant! She went on and on about how important is is to be out and proud and how proud she is to be a lesbian. She talked about her honesty about her sexuality over the past and her desire for marriage equality. At the end she even brought her life partner, KT, up on stage to introduce her to the gay and lesbian community. It was amazing, you could see how much they mean to each other just by the look in their eyes. It was so inspiring. She had the whole audience on their feet multiple times as she spoke with such power and strength! She said that she was more honored by being recognized by the LGBT community than any of her other awards...
well...
After giving such a great speech and being so honest...
All videos and photos from the dinner of Suze and her partner have been removed from the internet! There was a full video plus many photos from her speech on both the HRC website and Youtube following the dinner. Within one day they had all been removed! I would assume this is at Suze's request. Why is she hiding what she said at the dinner? She says she is proud to be a lesbian, yet only in front of the LGBT community....

I am a college student and I have idolized Suze for the past 2 years! I want to BE Suze! I want her power and confidence. She has shown me that a woman can have more of an impact than a man in the business or professional world, despite who she loves. I have 4 Suze books, her DVDs, and watch her on television ALL the time..not only for her financial advice, but also for her powerful, strong attitude towards life. But now after seeing her go back on what she said by hiding her speech, my opinion has changed.

Why is she hiding these videos? I would hope it was not her personal decision and rather a company decision because I look up to her so much, but what possible reason could she have for this?

I know both the HRC and Suze Orman Media have made statements that the video will not be released again, but please... I hope this is rethought... or at least have Suze make a statement explaining herself. If not, I know she is going to lose fans that look up to her more thna anyone else in the world.. like myself.

Suze,

25 years of marriage and 4 children later we have 37,000. in credit card debt. How can we ever pay this off? Some of our friends called and settled their debt with specif companies but this seems unjust. We need a simple plan to follow ny suggestions?
Thanks Carrie

Where should I invest beyond my IRA, kids 529 plans, with a 10 year
horizon?

I'm 64 years old and my husband is 70. I work part-time ocassionally & my husband still works full time. Our home is paid for. We both have whole life insurance & want to know if at our age we should consider getting term life insurance to free up some additional cash? Thank you.

Suzy

I lost my husband 6 weeks ago. I have two children in there teens. My husband had a life insurnace which I used part of it to pay off our home. I have people making surgestions of what else I should do with the life insurance. I have no real debt and $164,000.00 to work with. One surgestion is to put $50,000.00 into a annuity at a fixed rate. It is not FDIC insured, How safe is an annuity? I can't draw any for 14 years unitl I'm 59 1/2.

I have 26 years until i retire and I have a diversified 6 figure 401k portfolio from my previous employer, but it has taken a huge plunge in the last few months. i started a new job and have another 401k with my current employer. should i roll my previous plunging 401k into my new diversified 401k?

Hi Suze!

I'm going to be finishing my undergraduate study in May and starting graduate school in the fall. I have a few thousand dollars in cash in a bank account. Should I invest in the stock market while the prices are low? And if so, when exactly?

My Wife & I will be sixty years in old early 2009.
Should we stop putting into our firms 401 accounts.
Move our share of the money into our own Ira accounts that are guaranteed. ( Do we then pay the 10% tax or is it considered a rollover )
So our losses are stopped in the 401 accounts.

Thank you

Wayne

Hi Suze and Anderson love you both!

My fiance and I currently have our home on the market. It is only worth about 110,000. It will never be worth that much more than that even if we wait out the market. We are trying to buy a larger home that fits our needs now, while it is a buyers market. Unfortunately I do not have great credit and we are going to have to use an FHA loan to purchase the home. We are torn between waiting out this market failure and hurrying it up and getting into a new home, in the fear that the FHA loan will be gone and that banks will require great credit to secure a home loan by spring. Is it wise for us to get into a better home for ourselves now while the loan options are still available to people with less than perfect credit? Is now a good time to buy a home?

Why was short selling ever made legal?

It has nothing to do with INvesting in the market, and everything to do with DIvesting the market. Short sellers borrow other people's shares of stock and maniputate them by selling them, forcing the markets to lower levels than they ordinarily would go, and then they give back the pieces to the poor investers would didn't even know their shares were being borrowed. It would be like me going into someones house (without them knowing) and stealing their plasma TV, and then later bring back a piece of junk in it's place. In this day and age of day traders paradise, why does the government allow this practice? The short sellers have NO interest in investing in a firm-they only want to suck the value out of the market!! It's like a parasite! I can garantee you that if short selling was not allowed, that the markets would NOT be suffering like this. Short selling is the purest form of greed-which is what this whole conversation seems to be about, isn't it?

Thanks, Michael

Suzie I think that it should be illegal for credit card companies to charge annual fees on their credit cards I had one paid it off and closed it up within 2 years I had to fix my credit up after a bad divorce and greedy ex. At the time I knew thier was a charge of $79.00 on a charge limit of only $400.00 but at the time I did not realize that the fee was going to be forced upon me annually! Suzie do you feel this should be illegal? I do! Thanks, Judi Smith = From Warren, Michigan

Suze, Is whole life insurance a waste of money? I'm trying to pay off all my credit cards, should I consolidate them? THANK YOU!! EVERGREEN, NC 28438

I need a new car. Should I buy now or will the deals be better in December?

Dear Suze:
I am very interested in your views on the retail industry right now. Do you think this bail out is going to trickle its way down to retail after black friday? With stocks so bad I am not sure if a dept store sector goes bankrupt if another is going to be able to acquire them like Macys did with May company. I would love to hear your feedback with this industry.

You are the best!

Suze,

I have a two-part question.

1) If my mortgage rate is fixed and I put money in escrow for my taxes, is it still possible that we have to pay out at the end of the tax year? I know taxes will increase in this kind of economy and I am just wondering what to expect.

2) We have an 80/20 loan for our home. We have only been in it a year and are wondering if we should try to refinance for a lower rate. Is that even possible? If so, is now the time to do so with the way the economy is?

Hello Suze, I am a big fan. I am wondering if the current economic situation changes your general advice to YF&Bs (Young, Fabulous & Broke). I have not been effected by the stock market becasue I don't have anything, so there was nothing to loose. Last year was a struggle to make ends meet due to my very large amount of student loan debt ($150K) from undergrad and law school. However, my student loan debt is really my only debt, and after a raise, things are getting a little easier. I am just beginning my career and have been considering opening a Roth IRA soon and contributing a little bit each month. Is this a good time to do so since as people say "stocks are on sale"? Also, I will qualify for my employer's 401(k) in a few months. I plan on contributing the max, per your advice, but I am wondering if I am actually lucky to catch the market so low?

Hi Suze !

Love your show – glad you're back.

I rolled my 401k into mutual funds:Growth Fund of America, Bond
Fund of America and American Mutual Fund.

This is money I do not need right away and wanted it to stay in
these funds for 3 or 4 more years. Will it be safe to keep it in
these mutual funds? Thanking you in advance.

I'm currently an undergrad student and I pay for some of my education with a student loan. When my loan dispersed it went straight into my bank account, well, I'm owndering what will happen should my bank fold? Will I lose all my money including that loan? What can/ should I do right now?

I read that the CEO for Lehman Bros for 3 weeks until they failed got 19 million. Who knows what other top executives got. The Enron guys got 100's of millions. Why can't the courts or someone freeze their assets, and take the excessive bonuses, parachutes, spa resort, etc. money and distribute it to the people who lost their savings. Until someone pays for their abuses, the economy is at the mercy of these crooks.

Suze: I have a 4th and a 6th grader with state sponsored 529s for college in stocks–do I stay or do I go??? (already lost 1/3 of value)

Hellooo Suze!!
How can I afford to pay rent, bills medicine, and food to find way to save the money? Thank you.
P.S. I am enjoy your show......... you help people their advice for economy.....

I have 168 K in a 401 plan. I don't plan on tapping into "my nest egg" for another 15 years. I asked about sliding the money into a money market fund that was FDIC insured, and was told that I would have to remove my money and go to a bank. Is that something I should consider doing?

I am about to move to a very small town in Western PA and was thinking about a house. With today's housing market trouble, what news should I wait for to start the process as I will be a first time buyer with my FICO scores around 700?

Why is it that only the rich seem to benefit big time from these financial disasters? Look at Donald Trump, one of the fattest cats around, treating this economic crisis as an exciting garage sale where he can buy anything he wants at bargain basement prices. Basically, these wealthy pirates are buying up all the cheap real estate, often other peoples homes, businesses and other hard-earned asset, and then just sitting back and waiting for the bail-out to take effect and steady the markets, so they can watch their profits grow and grow at everyone else's expense. Just witness the accelerating rush on home foreclosures over the past few days! The mad grab for cheap properties is on! Perhaps that old saying is true: "Show me a rich man and I will show you a thief."

Hi Suze

I received a letter from my credit card company letting me know if I don't use my card to make a purchase withing 2 months they will close my account since it hasnt been used in 3 years. My question is..if the credit card company closes my account for non-usage will that affect my credit score? Or does my credit score only get affected if I choose to close my account?

Suze

Should my husband and I continue to contribute to our 401k or just put the cash in a svings account until the economy improves and we feel safer? Is the saying, "Cash is King" still true these days?
We have alaready seen our 401k value drop nearly 10%. We don't want to throw good money after bad and lose everything we worked so hard to save!

Thanks!

Why havent we heard anything from Alan Greenspan?

Suze, I am 51 years old and have now lost 41% of my 401-K retirement investment in the past few months. Should I stop contributing to my 401-K until things settle down and take that money and invest in something a bit more stable? Your advice is most appreciated!

Me and my wife are buying a BMR Home through sacramento housing authority.I was curious we are putting a 20,000 gift as down payment should we also take the down payment assistence 3% defered loan it is defered until the end of the fixed rate mortgage and we actually dont need it but it was offered to us.So should we use it or not?

Suze,

I was recently let go from my job and have since stopped contributing to my 401(k). I have some savings which I have put away in a money market account. I'm not sure how long it will take me to find another job. In the meantime, should I still be contributing something to my 401(k) or just keep my savings in the bank. I've lost several thousands of dollars already in my 401(k) and I'm not sure how I can regain especially if I'm not contributing.

Rachel
New Jersey