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Hey AC – how come we don't see anyone talking about how the market gained over half a trillion dollars today? Yesterday it was all about the 1.2 trillion lost. But we gained HALF of that back in ONE DAY? Come on man, we don't want this "rescue" bill. Let 'em go under. That's called capitalism.
Question for Suze Orman: If the bail out doesn't happen....does that mean deflation? So that people on fixed incomes may have a better chance of making their money go a little further?
Putting the whole bail-out aside, is this a good time to be in mutual funds in mt 401K, considering I have 5-7 years to retire? Given the weekness of the dollor, a market slowdown, a 6 Trillon dollor deficit, and large trade imballance I'm very leary adout any involvment is stocks.
Is now a good time to invest in stocks of those companies that have taken a big hit on the market? Perhaps financial companies that may turn around if the bailout goes through?
What's new with the FBI investigation into all of this? That story sort of disappeared. Please resurrect it?
My 401k with Vanguard does not have any federal insured funds. The safest thing they have is there money market fund and you can loose with this. What can I do? I don't want to pay taxes to take the money out I am under 59 years old.
Guy Pavey
Hi, I am 38 with no debt, 25k on-hand and some other savings invested in 401(k) and IRA's. I did have a few credit problems, but where all resolved/paid for in the past. I have a good job and excellent income(75-100k'). I am looking to purchase or lease a new vehicle. Given the credit crisis what do you recommend? do I stand a chance? should I wait, attempt?
Thank you,
Suze......hello!
I would like to ask you, please, a very serious question.
Can you tell the American Middle Class People right now, in detail, as no one else really has, what exactly would happen if the "bailout" was passed, regarding the Middle Class only, and what exactly would happen if the "bailout" did not pass, regarding the Middle Class? In honest terms, is it that big a deal for the Middle Class? Really? Or, is it that the wealthy only want this because they are losing some of their millions? Is too much being made of this, I guess is the question, trying to "frighten" the Middle Class people in particular?
Thanks, Suze.
Alex/Boston, Mass.
why can't businesses pay as they go? Why do they have to always borrow? There are some businesses who have no debt? Shouldn't this be a lesson not to borrow and instead for businesses, as you advise people, have a stash for a rainy day ie., now? If we don't do anything won't they learn?
The talk at work is if this bail out bill for the fat cats on wall street passes are to vote all the incumbents out office in November.
Anderson,
I have a question for Suze Orman: I have heard you describe the protection given to bank deposits by the FDIC. Is this similar to the protection given by the NCUA (National Credit Union Administration) to Credit Unions insured under the National Credit Union Share Insurance Fund (NCUSIF)? Which insurance is better, FDIC or NCUA?
I bought 16,000 shares of Freddie Mac on 16 Sept when they were 0.25 cents, was that a good investment?
Seth: the credit freeze will also prevent ppl with good credit, scores of 700 or above, from getting a loan of any kind either. No one will be able to get a loan. Though I don't know why ppl who normally couldn't afford a 300K house (like me) would think they coul afford a 300K house with a low interest rate and be able to stay above water....those ppl are the reason this happened..and the banks who told them they could.
Anderson I have heard no one comment on stopping the credit card solicitation thru the mail to people that should absolutely not have credit cards. The responsible people and the banks get punished for the dead beats not paying back and nor do they care.
Jim Justus
Explain to me why, if the FDIC is doing its job, there should be any cap at all on bank deposits????????
With the credit crisis how is someone who is just starting out and has no credit establish credit?
my wife will be 66 in 4 years we have lost $9,000 since July of 2007.
We have very little money ,what should we do?
Question for Suze: is this a good time to pay off an equity loan on a house with no mortgage? or a good time to refinance an existing mortgage on a house that is now worth less than what it was bought for?
Both the candidates are wrong to support this bailout. Larry's guest was right, the government is blowing this way out of proportion. If it was really so bad they would have put a stop to it a lot sooner. I do not trust them.
Hi Suze,
I am 49 years old. For the past several years my 401(k) has been in a very aggressive mix, which has done very well for me. However this year to date I am down $90,000, thus, I move everything to a conservative mix, and increased my contribution from 10%, to 12%. Did I do the right thing?
JR
Kansas City, Missouri
Looking at things from Canada .... both presidential candidates are pushing for more spending, tax cuts and the "bailout". This is not fiscally responsible and we wonder how the USA can continue to stack debt on top of debt and hope to keep the American dream alive?
Hi Suze,
I'm 43yrs old my company matches my 401k up to 6% and I'm currently contributing 10%. I have no credit card debt just student loan at locked in 3% interest. Should I pay off loan and only contribute 6% to my 401k or leave it as is?
Why is Obama being criticized for reading his speeches from the monitors while you McCain always looking down to read his speeches? To me, Obama at least appears to speaking to his audience while McCain is not. Just curious on your thoughts.
Thank you!
Jeff
Hi Anderson & Suze! With Adjusttable Mortgages would this be the time to refinance to a fixed rate or should we see where things go? I have an ARM that can go from 4.875% to 6.875& in June. Thanks!
SUZE,
I'm 23 and have about 25,000 in a 401(k). If I'm wanting to keep a moderate risk with my money, what percentage or ratio should I have in Stocks, Bonds, Money market....etc?
And what percentage amount should I limit in putting in one company/fund?
Anderson,
I am writing as a small business owner in Lexington, Va. Obviously, I do not know all the ends and outs of how Wall Street works but I do know how business works. I believe that CEO's and business owner should be held acountable for the corporate actions.
I recently made a Bad business decision that has left my business in need of cash. I made educated decisions. Supported by other respected business leaders in our community. I do not expect the federal goverment come to bail me out. I do not expect my dollars to bail out multimillion dollar Wall Street companies. Let them manage their way out of their hig risk whole just like the rest of us.
Hi,
I just turned 62 and filed for SS. My husband is almost 65 and still works. We have about $150,000.00 is savings in addition to IRA's and 401K's. We own our home and have no debt, We think we can get by without drawing on our retirements funds for at least 5 years. What should we do with our 401 right now?
Anita
Suze, with millions of Americans losing a significant portion of their savings, when will the Government raise the $3k dollar exemption for losses to $15-25k?
Generally speaking, if you have the money in a money market account, is this a good time to pay off a mortgage (that has a 6 3/8 % interest rate)? Does the current economic situation affect this decision at all?
I have $30-40,000 in cash in my SEP and Roth IRA retirement accounts. Should I buy (federal) government bonds with this money, rather than keep it in IMMA, (insured money-market accounts)?
Why do they have to have add ons to the Bail Out Plan. Can't the bail out pass on its on?and if not maybe they should get a new plan.
Question: So we take the bad loans and give them(Wallstreet) 700 billion, our taxes then go up to pay for their mess and we(the consumers) have no money to spend. How is this going to fix the economy? When we stop buying companies lay off and people loose their jobs. I think this will just protect the people who stole in the first place!!! I know I will not vote for anyone backing this bailout!!
Suzie:
I want to know if the state retirement systems, especially STRS in California is solvent?
And I have a 403B REIT, real estate trust and a 403B LIRA with an insurance company. How are they in terms of this economy?
I have $42,000 a year coming for life from Calif. and 100,000 in 403Bs. I am 61. I have no debt. This is enough money for me to live on now, but is it safe to retire? I hope to leave the 403Bs in for ten years without touching them.
suz
Why does the proposed Bailout not contain help for Main Street with a mortatorium on foreclosures, a stoppage of interest rate increases and a restructuring of home loans to make them affordable? Would this also not help Wall Street?
Suze I lost my job have abt $2000 in 401k. BUT I owe 1500 in back taxes... Do I cash out 401k and pay or roll over to IRA?
Thanks,
Beth
Would it be possible to turn this BAILOUT into a longterm STIMULUS package?? Could the Treasury buy 60 month (or so) term share certificates in the various financial institutions in equal amount and under the name of each and every American taxpayer amounting to the 700 billion... Giving the institutions the short term capital they need and at the end of the term the Treasury can recover the original funds and the taxpayers will receive the long-term dividend in the form of a stimulus payment and as thanks for doing their part in (hopefully) righting the ship....??
Why do our elected representatives vote with regards to getting re-elected and not according to what they know ,and many experts say is the right thing to do for our economy that will help everyone including "main street"? What is wrong with our government and our political system?
For Susie Orman.
I am already retired What kind of saving should I shift my 401K.
Where shold I shift it to out of the market?
Why are you still covering McCain? I thought McCain told the country he is suspending his campaign till this credit crisis is fixed? All McCain can do is lie,lie, and more lies
Qustion for Suze: Now that Citibank is going to buy Wachovia, will my Wachovia car loan stay at the same rate as when I bought my car or is subject to a new interest rate with the new bank?
Dear Suzie,
I have a $186K varible rate home equity loan (interest only payments) and a fixed $150K rental home loan (interest only payments). How should I prioritize paying these down?...start paying off principle on the equity loan?...convert the home loan to a fixed P&I?...other?
Can someone please explain to me why the government doesn't just give 2 million dollars to every man, woman, and child in the country? This would cost only 600 billion dollars, it would eliminate our individual debt, remove all issues associated with the housing market (everyone in trouble could pay off their mortgage), no one would care about the credit crunch, and it would serve as a monumental economic stimulus.
For Suze
Me an my wife are in our 30's our savings are gone and we run the risk of losing our home because her credit lines were cut and I am in the Mortgage Industry and I do not make the same amount of money any more. Should I stay in the Mortgage business were I have been succesful until late last year and what is the best direction to go with our house. I have tried to get other jobs but no one has answered my resume. I don't want to give up on myself but I need advice
If Ali Velshi is correct and it's the Credit Markets are the real issue why is it we keep refering to this as the Wall Street Bail out?
The way I understood what Ali said was that Wall Street is not a good barometer of financial solvency, it's all about the credit markets.
I admit I know little about how these credit markets operate. Anyone got any info for me to study?
Dan
The CEOs at the tops of these failing business should be required to foot the bail out of their own companies.. they must have had something to do with the poor practices that caused them to fail. I did not cause the failure.. why should I have to pay to save a company that will simply keep rewarding the ones who are stealing the public blind.
The problem was predatory lending AND speculators. Like trying to get oil and water to mix. Not to mention all that house flipping going on.That drove up property values that were unrealistic. 🙂
Whew! We just got out from under two mortgages last Fall. Our credit suffered horribly but we were able to get a new mortgage recently when we downsized in order to get our cauffers back up. Now we have a low mortgage and cash at the end of the month ready to replenish our emptied savings. Question: we have $40k in cash from the proceeds of the sale. What do we do with the cash? We have no credit card debt and no student loans. We have a generous family member who loaned us $120k to be paid back "whenever". Do we invest the $40k to earn money for the payback or do we give her a check now? Thanks!!
I hope nooone wants bailout the bill for vote....
To Suzie:
I have inheirted a collection of valuable coins,silver and gold and have been told I need to do something with it to avoid capital gain taxes..Is now a good time to liquidate
I was just curious why the 'Bailout' money can't be used to fund new projects to improve our economy in the future. We were always the first coming out with new technologies and sciences, but now we're slipping.
My question really is why not invest a lot of this money into a corporation who is trying to push green energy and make a killing on the profits in the future. We need to win the environmental game to stay on top of this changing economy.