Suze Orman on Oprah

[ohfrugalone]

(Ducking my head) I know Suze Orman isn't the usual financial expert quoted on here, but she says if you have cash in a few years when this all turns around, it will be the opportunity of a lifetime. Makes me feel a little better anyway. (not that I will have cash)

 

[HFWR]

Suze AND Oprah?

 

[ohfrugalone]

LOL, You bet - I could have tried to crash a talk by Richard Arms that I didn't get invited to at 4:00 pm, but instead I chose Oprah!

 

[W2R]

I like Suze because she pushes common sense, basic personal finance to those that know very little about it. Concepts such as "Can you afford it?" are foreign to some people, and I love to hear her screech "DENIED!!!" to those who can't.

I hope she is right about the opportunities for those who have cash when this turns around.

The bailout is going to cost more than all of the funds needed for social security and Medicare combined, according to a pie chart I saw somewhere recently (maybe here). The printing presses are going to be working some serious overtime making that many more dollars.

I am concerned about severe inflation. That could be a huge problem for those who have cash on hand. But then, hey, I'm always concerned about inflation. It is the only economic woe I can think of that hasn't hit us recently to any great extent.

 

[Bestwifeever]

I saw the last few minutes of the show. Suze had told people they must pay off their credit card debts, even if it means they need to call the cc companies for their help. And that some people may have to choose between their mortgage and their CC. And I was happy that she said what she did about cash since we're at 90/10 cash/other right now for a flukey reason--she said something about being a little patient and then getting back into the stocks that are bargains, so maybe she doesn't think we're at bottom yet.

I don't particularly like her or not but she is very common-sensical and has the whitest teeth I've ever seen on tv.

 

[ohfrugalone]

She did say if you were investing for retirement and did not need the money for 10 - 15 years that you should stay the course. Only sell if you need the money in the next 3 years. I hope that is true. I admit to being very nervous and considering trying to move some retirement accounts to cash - but I guess i was nervous in 2000 and so...I just don't remember.

 

[MasterBlaster]

The bailout is going to cost more than all of the funds needed for social security and Medicare combined, according to a pie chart I saw somewhere recently (maybe here)

Do you have a link ?

I find it unbelievable that SS and medicare won't cost exponential factors more than the bailout. Or did the chart only refer to the current year cash flow.

Am I missing something here ?

 

[W2R]

The bailout is going to cost more than all of the funds needed for social security and Medicare combined, according to a pie chart I saw somewhere recently (maybe here).

Do you have a link ?

A link to "somewhere recently (maybe here)?" Uh... lemme get back to you on that one. I think I saw it on TV, since I don't recall studying it and that is not like me when something captures my interest. Anyway - - Over a trillion dollars is a LOT of money, though not enough to yield all the social security paid, without any input from the usual wage earners' taxes.

A trilliion is ten to the twelfth power, which can be written as: 10^12
From the size of the pie slice, perhaps the SS part of the pie was about 0.7*10^12
An SWR of 4% of this amount would be 2.8*(10^10)
if 10% of the population is on SS, that would be 30 million or 3*10^7

2.8*(10^10)/(3*10^7) = $933/year, which is not enough to be the whole SS trust fund, you're right!

 

[Tempesta]

I like Suze, I think she connects with average people (me). She doesn't speak one of those highly complex financial talks, she just said 'if this, then do this. If that, then do that' ....she's easy to understand

 

[HFWR]

Only sell if you need the money in the next 3 years. I hope that is true.

Dang, why didn't she tell me that in May...

 

[yakers]

Dang, why didn't she tell me that in May...

Actually she was saying that in May

 

[yakers]

I watched most of the show, I am no fan of Suze but she was more feisty than ever. I think she is saying the same thing she has said for a while, especially avoiding debt, she is just taking this opportunity to actually have some people listen to her.

Good she was on Oprah, more people need to hear her message. (Then they need to lear even more about financial matters.)

 

[W2R]

The bailout is going to cost more than all of the funds needed for social security and Medicare combined, according to a pie chart I saw somewhere recently (maybe here). The printing presses are going to be working some serious overtime making that many more dollars.

Do you have a link ?

I find it unbelievable that SS and medicare won't cost exponential factors more than the bailout. Or did the chart only refer to the current year cash flow.

Am I missing something here ?

It was on my local TV news, which just showed it again on the 9PM news. However, they have not yet posted the story on their website. So, I don't have a link. It was labeled as being the present federal budget. 21% was allocated to SS. I find that hard to believe, but so be it.

Then they laid a green pie slice over part of the pie, to represent the cost of the bailout in future yearly budgets, for illustrative purposes. Over 25% would be allocated to the bailout. I did not get an exact percentage.

 

[Goonie]

I occasionally catch part of her show on Saturday nights.....not too often though. A little over a year ago she mentioned a "Save Yourself Plan"....a gig she had partnered up with TD Ameritrade to do. The deal was to ACH a minimum of $50 a month into a MM account, and after you'd done so for 12 straight months, they'd give you $100 bonus.....as in FREE money! I got my $100 of FREE money a week or so ago.......about a 16.7% yield on the minimum $600 investment. My Mom will be getting her free $100 (IIRC) this December.

I see the "SYP" is being offered again, however this time around the minimum monthly commitment is $100......which still isn't too bad a deal to get $100 FREE money......a 8.33% yield on the minimum $1200 investment.

BTW, the account is FDIC insured.

The only extra thing that you needed when I signed up was a code number out of her book "Women & Money".....which I thumbed through at Waldenbooks in the mall and wrote down the # on a scrap of paper.....all the books contained the same code #. But after looking over the info for this time around, it doesn't mention anything about needing that code #.