Suze’s back, and taking your questions
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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 continued economic trouble and Obama's economic plan will change the market; affect your stocks, mutual funds, 401(k)… your job?
Submit your financial questions here for Suze Orman and watch AC360° tonight 10p ET to get them answered.
Suze's back, and taking your questions
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/images/10/08/art.suze.wallst.jpg]
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 continued economic trouble will change the market; affect your stocks, mutual funds, 401(k)... your job?
Submit your financial questions here for Suze Orman and watch AC360° tonight 10p ET to get them answered.
Suze Orman on your fears
Editor’s note: Tonight on AC360° Suze Orman returned to discuss the tumbling financial markets and answered your questions. Here is what she had to say:
Anderson Cooper: A lot of questions, a lot submitted on the AC360° blog. There is down right fear, panic. Is that counterproductive?
Suze Orman: It is not counterproductive, it’s real. It’s how people feel and the markets are made up of how people feel. They buy or they sell based on their emotions, Anderson. It’s how it has always been. When Ali does this thing with the drugs, I was talking to you before we went on air, this is what is happening. People feel they need medication because they are panicking.
Suze Orman on your fears
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Editor's note: Tonight on AC360° Suze Orman returned to discuss the tumbling financial markets and answered your questions. You can watch the segment here. Here is what she had to say:
Anderson Cooper: A lot of questions, a lot submitted on the AC360° blog. There is down right fear, panic. Is that counterproductive?
Suze Orman: It is not counterproductive, it's real. It's how people feel and the markets are made up of how people feel. They buy or they sell based on their emotions, Anderson. It's how it has always been. When Ali does this thing with the drugs, I was talking to you before we went on air, this is what is happening. People feel they need medication because they are panicking.
It's as if the economy right now is in the I.C.U. unit of a hospital. We are in intensive care and they are throwing everything type of medication at us to cure what is going on. They are panicking because why? Nothing is working. They tried this, it didn't work. They tried that medication, it didn't work. They are running out of prescriptions to give it. We are going to be in the I.C.U. unit for a while. Eventually, I don't know when that will be, six months, a year, year and a half, we will get out, we’ll be in the hospital then. We'll stay in the hospital for about a year or two. After another year or two we will end up in rehab and then we'll be okay. This is a long stretch. People have to stop panicking. This is here to stay, if you ask me, for a long time.
Suze's back, and taking more questions
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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 continued economic trouble and today's surprise Fed rate cut will change the market; affect your stocks, mutual funds, 401(k)... your job?
Submit your financial questions here for Suze Orman and watch AC360° tonight 10p ET to get them answered.
Your questions, Suze's answers
Editor's note: Suze Orman answered your questions on AC360° tonight. Here are the questions and her advice.
Anderson Cooper: The Dow's climb on Wall Street finishing up 485 after yesterday's record loss of 778. The Senate is supposed to vote on a bailout plan tomorrow night. Suze Orman is here to answer your questions on the wild ride. The bill the Senate will vote on tomorrow night will raise from $100,000 to $250,000 the amount the FDIC will protect in a bank. What does that mean? Is that a good thing?
Suze Orman: It's a good thing in that people don't have to go to more and different banks if they have more than $100,000. Does that help the little people? Who has $50,000? Maybe they have $50,000 in credit card debt. Very little people we're talking about that will affect. For large banks and large businesses, it makes it easier for them to meet their payroll by dealing with one bank.
Anderson: We have a ton of questions on the website. John writes,
I'm 28 years old with no credit card or student loan debt, my condo is paid off, I have a great job. Should I be taking advantage of the great deals you discussed on your website yesterday?
Suze: Yes, my dear John, of course he should be taking advantage of it. He doesn't have to use his money to get out of debt. How does he take advantage? How do you take advantage of what's going on here?
Suze Orman Takes your questions
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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.
Financial light at the end of the tunnel could be 2015
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Editor’s Note: Suze Orman will be on AC360° tonight at 10pm ET to discuss how to keep your money safe. Check out her new partnership with the FDIC at myFDICinsurance.gov. On that site you can use her calculator to make sure the money you put in the bank is safe, and backed by the FDIC. Suze was interviewed on CNN earlier today. Here's what she had to say:
Suze Orman
Personal Finance Expert
Q: How worried should people be right now? Not only about stocks but mutual funds, portfolios, 401(k)s, jobs?
They should be worried about everything. And they should be so worried, not that we should start a panic, that they really start to truthfully change their behaviors.
They have to realize that nobody is joking here. They can’t continue to go out to eat, charge it on a credit card and then just pay the minimum at the end of the month. They have got to go into a different type of financial mentality,
I have to tell you, I don’t think that has sunk into them yet. so a few more days like this a few more things coming down the pike, they may go ‘oh, my God, we may be in serious trouble here.’
Let’s start with bank accounts. If you are within the FDIC limits of a bank account, if you happen to be at a credit union, if you’re within the limits of the NCUA (National Credit Union Administration), you have to understand your money is absolutely safe and sound. The $100,000 per account.
Here’s what everybody needs to do, especially with FDIC… FULL POST
