1 00:00:28,329 --> 00:00:34,330 Suze: March 16, 2025. Welcome everybody to the Women and Money podcast, 2 00:00:34,409 --> 00:00:38,810 Suze: as well as everybody smart enough to listen. Suze O 3 00:00:38,810 --> 00:00:41,139 Suze: here and today is Suze School. 4 00:00:42,020 --> 00:00:46,060 Suze: Although I have been absent from Suze School, have I not? 5 00:00:46,168 --> 00:00:51,680 Suze: And that is because I just cannot, I cannot win 6 00:00:51,979 --> 00:00:55,939 Suze: this battle I'm having with my lungs and my cough 7 00:00:55,939 --> 00:01:01,540 Suze: and everything else. I'm losing this battle, but eventually I 8 00:01:01,540 --> 00:01:06,220 Suze: will win it. But it's been a struggle, honest to God, everybody. 9 00:01:06,680 --> 00:01:10,199 Suze: But I really want to do this podcast because I 10 00:01:10,199 --> 00:01:14,010 Suze: don't want to lose touch with all of you, and really, 11 00:01:14,080 --> 00:01:16,309 Suze: I don't want you to lose touch. 12 00:01:17,160 --> 00:01:23,709 Suze: With yourselves because it's markets like this, it's times like this, 13 00:01:23,720 --> 00:01:28,000 Suze: it's economies like this, it's the news cycle like this 14 00:01:28,480 --> 00:01:30,800 Suze: that a lot of you get so afraid and you're 15 00:01:30,800 --> 00:01:34,430 Suze: out of touch with how you really feel. What's going 16 00:01:34,430 --> 00:01:38,000 Suze: on for you, not what's going on for your neighbor 17 00:01:38,000 --> 00:01:43,119 Suze: or your family, but for you, just for you, and 18 00:01:43,120 --> 00:01:44,400 Suze: I have a feeling. 19 00:01:44,889 --> 00:01:48,599 Suze: That if I were to ask you the question, how 20 00:01:48,599 --> 00:01:52,919 Suze: do you feel right now? How do you feel when 21 00:01:52,919 --> 00:01:55,809 Suze: it comes to the economy? Do you know what I 22 00:01:55,809 --> 00:01:58,750 Suze: know you would say, or at least the majority of you? 23 00:01:59,550 --> 00:02:00,949 Suze: Cause you're writing me. 24 00:02:01,879 --> 00:02:04,290 Suze: You would say I feel afraid. 25 00:02:05,269 --> 00:02:08,929 Suze: I feel confused. I feel scared. 26 00:02:09,710 --> 00:02:15,979 Suze: I feel insecure. I feel anxious. I feel confused. 27 00:02:16,788 --> 00:02:20,538 Suze: I feel like I don't know what to do. 28 00:02:21,279 --> 00:02:27,220 Suze: And the list goes on and on and on, and 29 00:02:27,220 --> 00:02:30,339 Suze: I get that, and part of the reason that you 30 00:02:30,339 --> 00:02:31,579 Suze: feel that way. 31 00:02:32,399 --> 00:02:35,119 Suze: Is because you should. 32 00:02:36,199 --> 00:02:39,720 Suze: Seriously, you should not that you should feel afraid, but 33 00:02:39,720 --> 00:02:42,239 Suze: when it comes to confusion, when it comes to not 34 00:02:42,240 --> 00:02:46,119 Suze: knowing what to do, it's very difficult to know what 35 00:02:46,119 --> 00:02:55,320 Suze: to do when everything around you, everything keeps changing day 36 00:02:55,320 --> 00:02:58,960 Suze: by day. First, you have hundreds of thousands of employees 37 00:02:58,960 --> 00:03:01,839 Suze: that have been fired. Now all of a sudden they 38 00:03:01,839 --> 00:03:03,549 Suze: have to all be hired back. 39 00:03:04,089 --> 00:03:06,440 Suze: They're going to take down the phone system of the 40 00:03:06,440 --> 00:03:09,918 Suze: Social Security so that 76 million of you that need 41 00:03:09,919 --> 00:03:12,990 Suze: to call in to use the phone won't be there, 42 00:03:13,240 --> 00:03:14,880 Suze: and now they're putting it back. 43 00:03:16,169 --> 00:03:19,240 Suze: Tariffs are on, tariffs are off. 44 00:03:20,300 --> 00:03:27,360 Suze: All of these things really cause tremendous confusion and rightfully so. 45 00:03:28,380 --> 00:03:32,410 Suze: But you know, I was thinking about what is the 46 00:03:32,410 --> 00:03:35,490 Suze: Women and Money podcast? What do we do here? 47 00:03:36,679 --> 00:03:41,080 Suze: Really, what do we do here? And I realized that 48 00:03:41,080 --> 00:03:45,800 Suze: we actually have a podcast that tackles your fears. 49 00:03:46,429 --> 00:03:50,770 Suze: And puts you in control of your financial future. 50 00:03:51,990 --> 00:03:56,899 Suze: Not the government, not anybody else, not a financial adviser, 51 00:03:57,149 --> 00:04:01,029 Suze: but you. One of the greatest emails that I got 52 00:04:01,029 --> 00:04:04,139 Suze: this week was from a woman, I'm very sorry to say, 53 00:04:04,190 --> 00:04:06,110 Suze: who recently lost her husband. 54 00:04:06,880 --> 00:04:10,529 Suze: And he's left her a considerable sum of money. 55 00:04:11,429 --> 00:04:15,639 Suze: And she was getting advice from a financial advisor, and 56 00:04:15,639 --> 00:04:17,320 Suze: she asked me about it and I said, no, I 57 00:04:17,320 --> 00:04:19,429 Suze: don't think I would do that if I were you. 58 00:04:20,308 --> 00:04:22,769 Suze: And I simply said to her. 59 00:04:23,440 --> 00:04:27,859 Suze: Do you need help? Do you need a financial advisor? Like, 60 00:04:27,890 --> 00:04:30,700 Suze: what is it that you need at this point in time? 61 00:04:31,010 --> 00:04:33,220 Suze: And she wrote me back. 62 00:04:33,959 --> 00:04:38,109 Suze: And she said, Oh no, Suze, I've been listening to 63 00:04:38,109 --> 00:04:43,988 Suze: you for years, and I know to find the best 64 00:04:43,988 --> 00:04:49,390 Suze: financial advisor I just simply need to look in the mirror. 65 00:04:50,070 --> 00:04:51,989 Suze: And I have to tell you, everybody, I was so 66 00:04:51,988 --> 00:04:54,928 Suze: sick that day. I can't even tell you, and that 67 00:04:54,928 --> 00:04:59,250 Suze: made me feel like a million dollars or maybe a 68 00:04:59,250 --> 00:05:01,600 Suze: billion dollars. I don't know what it made me feel like, 69 00:05:01,609 --> 00:05:03,919 Suze: but it really made me feel good. 70 00:05:04,720 --> 00:05:09,909 Suze: So I get that a lot of you are confused, 71 00:05:10,238 --> 00:05:12,368 Suze: but what you have to do 72 00:05:13,320 --> 00:05:16,630 Suze: is, you have to have a game plan. 73 00:05:17,350 --> 00:05:21,169 Suze: You have to know that all of these things that 74 00:05:21,170 --> 00:05:24,320 Suze: are going on, right, whether you see the stock market 75 00:05:24,320 --> 00:05:28,929 Suze: bouncing around or you hear these talks about tariffs and 76 00:05:28,928 --> 00:05:33,570 Suze: inflation and jobs and everything else, you know, that you're 77 00:05:33,570 --> 00:05:37,140 Suze: asking yourself about, you need to ask yourself the question, 78 00:05:37,529 --> 00:05:40,799 Suze: what does this mean for me? 79 00:05:41,988 --> 00:05:42,859 Suze: Did you hear that? 80 00:05:43,709 --> 00:05:47,510 Suze: Everything that is going on right now you have to 81 00:05:47,510 --> 00:05:54,170 Suze: ask yourself what does this mean for me. You need 82 00:05:54,170 --> 00:05:59,109 Suze: to ask yourself the question then, am I going to 83 00:05:59,109 --> 00:06:00,670 Suze: be OK. 84 00:06:01,760 --> 00:06:04,579 Suze: You need to ask yourself that question. 85 00:06:05,678 --> 00:06:08,820 Suze: Now I can tell you something right now. If you've 86 00:06:08,820 --> 00:06:12,920 Suze: been listening to the Women and Money podcast, if you've 87 00:06:12,920 --> 00:06:15,238 Suze: been doing the things that I've been asking you to 88 00:06:15,238 --> 00:06:18,829 Suze: do and talking about all of these things, making sure 89 00:06:19,079 --> 00:06:22,079 Suze: that you have an 8 to 12 month emergency fund 90 00:06:22,079 --> 00:06:24,700 Suze: and you're being smart with investments and things like that, 91 00:06:24,720 --> 00:06:26,720 Suze: and maybe in a little bit I'll give you a 92 00:06:26,720 --> 00:06:30,269 Suze: list of everything I want you to do. I promise you, 93 00:06:30,890 --> 00:06:34,799 Suze: you are going to be OK. 94 00:06:35,160 --> 00:06:39,790 Suze: You'll probably be more than OK as long as you 95 00:06:39,790 --> 00:06:41,390 Suze: stay focused. 96 00:06:42,350 --> 00:06:48,290 Suze: And you don't let fear make financial decisions for you. 97 00:06:48,928 --> 00:06:53,929 Suze: What's happening in the stock market right now, in my opinion, 98 00:06:54,119 --> 00:06:58,238 Suze: is many of you are falling into the hands of 99 00:06:58,238 --> 00:07:02,679 Suze: the professional traders that are manipulating a whole lot of 100 00:07:02,678 --> 00:07:06,950 Suze: ups and downs on these markets and these stocks, and 101 00:07:07,320 --> 00:07:10,649 Suze: every time it goes up a little bit, you decide, oh, 102 00:07:10,679 --> 00:07:12,600 Suze: I have to sell. I have to get out at 103 00:07:12,600 --> 00:07:14,920 Suze: least I'm getting my money out and then it goes 104 00:07:14,920 --> 00:07:16,359 Suze: all the way back down again. 105 00:07:17,230 --> 00:07:19,450 Suze: And then a lot of you go, oh, I should 106 00:07:19,450 --> 00:07:22,040 Suze: have sold. Why didn't I sell? And then it goes 107 00:07:22,040 --> 00:07:26,589 Suze: back up again and again you now get out. And eventually, 108 00:07:26,720 --> 00:07:28,640 Suze: after they've done that enough. 109 00:07:30,079 --> 00:07:33,070 Suze: It's gonna go up and then it's gonna take off 110 00:07:33,070 --> 00:07:35,239 Suze: and skyrocket again. 111 00:07:36,230 --> 00:07:39,268 Suze: The absolute worst thing that you can be doing right 112 00:07:39,269 --> 00:07:45,750 Suze: now is panic and make decisions that hurt your long 113 00:07:45,750 --> 00:07:47,549 Suze: term security. 114 00:07:48,730 --> 00:07:52,609 Suze: Because when you do that, when you make decisions out 115 00:07:52,609 --> 00:07:53,679 Suze: of fear. 116 00:07:54,809 --> 00:07:58,920 Suze: When does it affect you? It affects you long term. 117 00:07:59,489 --> 00:08:04,089 Suze: So here's what I really, really, everybody need you to 118 00:08:04,089 --> 00:08:08,850 Suze: remember that short term news, just, you know, things that 119 00:08:08,850 --> 00:08:15,649 Suze: are short term news should not dictate long term decisions. 120 00:08:16,529 --> 00:08:23,570 Suze: Especially if you have a well diversified portfolio, especially if 121 00:08:23,570 --> 00:08:24,859 Suze: you have a plan. 122 00:08:25,640 --> 00:08:29,109 Suze: Especially if you're doing the right things and you just 123 00:08:29,109 --> 00:08:32,669 Suze: are staying the course in your dollar cost averaging or 124 00:08:32,669 --> 00:08:36,760 Suze: value cost averaging and you're just doing that. 125 00:08:37,940 --> 00:08:41,039 Suze: Now I get that the new thing that's on the 126 00:08:41,039 --> 00:08:46,159 Suze: mind of everybody is, Suzie, are we going to have 127 00:08:46,159 --> 00:08:47,119 Suze: a recession? 128 00:08:48,580 --> 00:08:51,520 Suze: All of a sudden the our word has come back 129 00:08:51,729 --> 00:08:56,080 Suze: and all of you are absolutely freaked again about that. 130 00:08:57,169 --> 00:09:00,489 Suze: And my answer to that is maybe. 131 00:09:01,369 --> 00:09:02,890 Suze: But maybe not. 132 00:09:04,330 --> 00:09:08,340 Suze: Let me just ask you this. Let's say we did 133 00:09:08,340 --> 00:09:09,679 Suze: have a recession. 134 00:09:10,380 --> 00:09:14,119 Suze: And let's pretend like we're going to have a recession. 135 00:09:14,489 --> 00:09:19,319 Suze: Then the question becomes, are you personally prepared? 136 00:09:20,330 --> 00:09:20,940 Suze: Are you? 137 00:09:21,669 --> 00:09:25,280 Suze: Because this isn't just about the stock market. This is 138 00:09:25,280 --> 00:09:28,000 Suze: about what you do with your money every day. It's 139 00:09:28,000 --> 00:09:31,159 Suze: what you are buying now. It is everything. 140 00:09:32,179 --> 00:09:36,579 Suze: So the question again is, are you personally prepared? 141 00:09:37,679 --> 00:09:44,440 Suze: Because whether or not a recession happens, everybody, your financial 142 00:09:44,440 --> 00:09:49,150 Suze: security depends on you and you alone. 143 00:09:50,570 --> 00:09:53,150 Suze: And you know that because I've been saying that to 144 00:09:53,150 --> 00:09:55,789 Suze: you over and over again. 145 00:09:56,760 --> 00:10:01,809 Suze: So what do you need to have in place right now? 146 00:10:03,760 --> 00:10:08,000 Suze: For you to be financially secure, get out your little 147 00:10:08,000 --> 00:10:09,320 Suze: Suze notebooks. 148 00:10:11,190 --> 00:10:14,700 Suze: It is more important than ever, especially at this point 149 00:10:14,700 --> 00:10:17,700 Suze: in time, and I am very serious about this. 150 00:10:18,669 --> 00:10:22,260 Suze: That you have got to have an emergency fund of 151 00:10:22,260 --> 00:10:27,218 Suze: at least 8 to 12 months of must pay expenses. 152 00:10:28,309 --> 00:10:32,349 Suze: And if you don't, your number one priority is to 153 00:10:32,349 --> 00:10:36,809 Suze: absolutely build that up next. 154 00:10:37,710 --> 00:10:41,780 Suze: You have to really be smart with your investments, everybody. 155 00:10:42,309 --> 00:10:47,460 Suze: Don't get scared and cash out of your investments, especially 156 00:10:47,460 --> 00:10:49,510 Suze: in your retirement accounts. 157 00:10:50,489 --> 00:10:54,640 Suze: Don't do it. Don't do it. Don't do it. If anything, 158 00:10:54,840 --> 00:10:59,690 Suze: you know, as the market continues down. If you dollar 159 00:10:59,690 --> 00:11:04,598 Suze: cost average or value cost average, eventually it will be OK. 160 00:11:04,690 --> 00:11:07,609 Suze: Now put a pin in that for a second before 161 00:11:07,609 --> 00:11:11,359 Suze: I go on. A lot of you, especially on the board, 162 00:11:11,570 --> 00:11:15,520 Suze: I see you writing on value cost averaging every day. 163 00:11:16,070 --> 00:11:19,739 Suze: Into XYZ stock, whatever stock it is you're doing this, 164 00:11:20,030 --> 00:11:22,309 Suze: and it goes down a few dollars and you buy 165 00:11:22,309 --> 00:11:25,909 Suze: a little and whatever. Listen, stop it. 166 00:11:26,780 --> 00:11:29,320 Suze: It's going to go down. It's going to go up. 167 00:11:29,710 --> 00:11:33,329 Suze: Give yourself a good period of time. The last thing 168 00:11:33,330 --> 00:11:37,569 Suze: you want to do is run out of money, so 169 00:11:37,570 --> 00:11:40,968 Suze: you are to designate an amount of money that is 170 00:11:40,969 --> 00:11:44,049 Suze: to go into any stock or ETF that you want 171 00:11:44,049 --> 00:11:45,049 Suze: to purchase. 172 00:11:45,950 --> 00:11:49,650 Suze: And you want to make sure that you have enough 173 00:11:50,020 --> 00:11:54,059 Suze: in there so that as these markets continue on because 174 00:11:54,059 --> 00:11:56,979 Suze: they could absolutely go down big time still. 175 00:11:57,710 --> 00:12:00,900 Suze: That you have enough to buy it and so you 176 00:12:00,900 --> 00:12:04,260 Suze: don't buy one or two shares every day. Give yourself 177 00:12:04,260 --> 00:12:09,250 Suze: a little breather and see how it goes, all right, everybody, 178 00:12:09,659 --> 00:12:13,218 Suze: don't worry about catching it at the bottom. You will 179 00:12:13,219 --> 00:12:15,459 Suze: never buy at the bottom. You will never sell at 180 00:12:15,460 --> 00:12:16,190 Suze: the top. 181 00:12:16,859 --> 00:12:22,950 Suze: So just take it easy when it comes to investing, OK? Next, 182 00:12:23,000 --> 00:12:24,939 Suze: let's go back to your list. 183 00:12:25,690 --> 00:12:31,570 Suze: You have got to not take on any unnecessary debt. 184 00:12:31,780 --> 00:12:34,789 Suze: So what does that mean? It means no new credit 185 00:12:34,789 --> 00:12:39,770 Suze: card debt, no new car loans, unless it's absolutely necessary. 186 00:12:40,059 --> 00:12:44,280 Suze: And if you have high interest debt, you are to 187 00:12:44,280 --> 00:12:47,919 Suze: pay it down now or do a balance transfer to 188 00:12:47,919 --> 00:12:51,069 Suze: a low interest rate card or a zero interest rate card, 189 00:12:51,280 --> 00:12:55,000 Suze: but you have got to not take on any more 190 00:12:55,000 --> 00:12:55,909 Suze: new debt. 191 00:12:56,760 --> 00:13:02,280 Suze: Recently somebody in my sphere who happens to be somebody 192 00:13:02,280 --> 00:13:06,679 Suze: that I like very much, he has a car. His 193 00:13:06,679 --> 00:13:12,479 Suze: husband has a car, beautiful cars, no problem. Everything's good 194 00:13:12,479 --> 00:13:13,080 Suze: about it. 195 00:13:13,880 --> 00:13:19,059 Suze: And one of his clients offered him a car. 196 00:13:19,830 --> 00:13:23,229 Suze: That had only 4500 miles on it and it was 197 00:13:23,229 --> 00:13:24,900 Suze: his dream car. 198 00:13:25,969 --> 00:13:28,199 Suze: And he had to have that car. 199 00:13:28,940 --> 00:13:32,450 Suze: So guess what, he bought that car. 200 00:13:33,309 --> 00:13:36,419 Suze: And when he was telling me about it, he was 201 00:13:36,419 --> 00:13:40,940 Suze: telling me that he financed it over 6 years and 202 00:13:40,940 --> 00:13:43,580 Suze: everything and that now they have 3 cars and on 203 00:13:43,580 --> 00:13:46,739 Suze: and on and I didn't say anything cause he already 204 00:13:46,739 --> 00:13:47,250 Suze: did it. 205 00:13:47,929 --> 00:13:49,539 Suze: But are you kidding me? 206 00:13:50,359 --> 00:13:55,150 Suze: This is not the time. This is not the time 207 00:13:55,159 --> 00:13:59,559 Suze: or the place for you to be buying anything that 208 00:13:59,559 --> 00:14:03,919 Suze: is not a necessity just because a good deal came along. 209 00:14:04,700 --> 00:14:07,030 Suze: And you got to buy this car and it's just 210 00:14:07,030 --> 00:14:09,630 Suze: beautiful and you like how it looks and I said 211 00:14:09,630 --> 00:14:12,868 Suze: to him, do you, do, do people look at you 212 00:14:12,869 --> 00:14:16,510 Suze: when you're in this car? He said, Oh yes. I'm like, mhm. 213 00:14:17,640 --> 00:14:22,539 Suze: Are you kidding? Stop spending money you don't have to 214 00:14:22,539 --> 00:14:26,710 Suze: impress people you don't even know or like. This is 215 00:14:26,710 --> 00:14:30,219 Suze: not the time, and I don't care how wealthy you are. 216 00:14:30,419 --> 00:14:34,580 Suze: I don't care. Like I even said to KT this morning, 217 00:14:34,669 --> 00:14:37,789 Suze: you know what, KT, I don't know. Maybe one of 218 00:14:37,789 --> 00:14:40,789 Suze: these trips that we have planned in the next few months, 219 00:14:40,830 --> 00:14:42,419 Suze: maybe we just shouldn't take it. 220 00:14:43,590 --> 00:14:46,150 Suze: Even though we could spend the money and we can 221 00:14:46,150 --> 00:14:49,950 Suze: afford it, it's not a necessity. It's not something that 222 00:14:49,950 --> 00:14:54,309 Suze: we should or should, it's maybe we just shouldn't do it, KT, 223 00:14:54,630 --> 00:14:57,750 Suze: and we should really conserve everything. 224 00:14:59,650 --> 00:15:05,400 Suze: Because it's in our nature, doesn't matter how rich you are, 225 00:15:05,570 --> 00:15:10,690 Suze: it's in our nature to not do things, especially when 226 00:15:10,690 --> 00:15:14,570 Suze: the economy and the stock market is going down, to 227 00:15:14,570 --> 00:15:18,679 Suze: take on things that are unnecessary, even if it's not 228 00:15:18,679 --> 00:15:23,809 Suze: creating unnecessary debt, it's an unnecessary waste of money in 229 00:15:23,809 --> 00:15:24,770 Suze: my opinion. 230 00:15:25,830 --> 00:15:29,809 Suze: So again I am telling you do not take on 231 00:15:29,809 --> 00:15:35,250 Suze: a necessary debt, and that includes right now, believe it 232 00:15:35,250 --> 00:15:40,049 Suze: or not, I would not be buying a new home 233 00:15:40,049 --> 00:15:40,919 Suze: if I were you. 234 00:15:41,739 --> 00:15:43,090 Suze: If you didn't have to. 235 00:15:44,270 --> 00:15:46,650 Suze: If it is a want and you're just thinking, you 236 00:15:46,650 --> 00:15:49,690 Suze: know what, maybe I'd want a bigger house, maybe this 237 00:15:49,690 --> 00:15:52,690 Suze: or that and everything, this is not the time that 238 00:15:52,690 --> 00:15:55,890 Suze: I would be doing it. I think real estate is 239 00:15:55,890 --> 00:15:59,250 Suze: seriously going to be affected by a lot of things 240 00:15:59,250 --> 00:16:02,369 Suze: that are happening out there, and I don't think it's 241 00:16:02,369 --> 00:16:06,169 Suze: impossible that you could see real estate prices start to 242 00:16:06,169 --> 00:16:07,090 Suze: come down. 243 00:16:07,570 --> 00:16:10,609 Suze: For those of you who are selling homes, you might 244 00:16:10,609 --> 00:16:12,729 Suze: find that you don't want to stick so much on 245 00:16:12,729 --> 00:16:16,130 Suze: the price as what you set were no longer, in 246 00:16:16,130 --> 00:16:20,210 Suze: my opinion, in a seller's market, and therefore you should 247 00:16:20,210 --> 00:16:24,130 Suze: just maybe be willing to negotiate and go a little 248 00:16:24,130 --> 00:16:27,679 Suze: bit softer. Inventory is increasing. 249 00:16:28,510 --> 00:16:32,130 Suze: The time on list for a house to be sold 250 00:16:32,130 --> 00:16:33,250 Suze: is increasing. 251 00:16:34,239 --> 00:16:37,729 Suze: I'm just telling you I don't have a great feeling 252 00:16:37,729 --> 00:16:40,549 Suze: about it. All right. Now, 253 00:16:41,440 --> 00:16:45,750 Suze: I know it seems like inflation was going down, but 254 00:16:45,750 --> 00:16:50,510 Suze: now it seems like inflation is going up. So what 255 00:16:50,510 --> 00:16:54,340 Suze: do you do when inflation is going up? 256 00:16:55,140 --> 00:16:58,210 Suze: Again, kind of what I just said, I want you 257 00:16:58,210 --> 00:17:03,010 Suze: to cut any unnecessary expenses. I want you to look 258 00:17:03,010 --> 00:17:07,479 Suze: at what you're spending and the things that you don't need, 259 00:17:07,729 --> 00:17:11,169 Suze: whether they're subscription services or eating out too much. Can 260 00:17:11,170 --> 00:17:14,609 Suze: you just cut back right now. 261 00:17:15,750 --> 00:17:20,430 Suze: Can you find ways to increase your income? Can you 262 00:17:20,430 --> 00:17:23,790 Suze: pick up extra hours, maybe a side gig or rent 263 00:17:23,790 --> 00:17:27,079 Suze: out a room or whatever it is that you can do, or, 264 00:17:27,109 --> 00:17:30,708 Suze: you know, even an extra $500 a month can make 265 00:17:30,709 --> 00:17:35,540 Suze: a huge difference, and that's enough for you to fund monthly, 266 00:17:35,589 --> 00:17:39,069 Suze: a Roth IRA. That's a great thing for you to 267 00:17:39,069 --> 00:17:39,829 Suze: think about. 268 00:17:40,829 --> 00:17:43,750 Suze: Most importantly, you need to stay calm. 269 00:17:44,800 --> 00:17:48,510 Suze: Cause you need to remember that inflation doesn't last forever. 270 00:17:49,079 --> 00:17:52,439 Suze: It goes in cycles, you can adapt, you can adjust, 271 00:17:52,520 --> 00:17:57,169 Suze: you can just keep moving forward. Everything is changing very 272 00:17:57,170 --> 00:18:01,160 Suze: rapidly now. So it's really important. 273 00:18:01,869 --> 00:18:07,290 Suze: That you do this before a recession happens. You have 274 00:18:07,290 --> 00:18:11,900 Suze: to prepare for tomorrow. You do, you know, you always 275 00:18:11,900 --> 00:18:15,060 Suze: prepare for the worst but hope for the best, and 276 00:18:15,060 --> 00:18:19,859 Suze: I'm not exactly sure what's on the horizon here, but 277 00:18:19,859 --> 00:18:23,260 Suze: I have to tell you too many things in my 278 00:18:23,260 --> 00:18:25,780 Suze: opinion are really unsettled. 279 00:18:26,489 --> 00:18:32,489 Suze: Ukraine is unsettled, Russia is unsettled, Gaza and Israel and 280 00:18:32,489 --> 00:18:39,489 Suze: China and Iraq, everything right now is teetering Europe, Canada. 281 00:18:40,439 --> 00:18:43,030 Suze: Everything is changing. 282 00:18:43,989 --> 00:18:48,369 Suze: So because everything is changing, you need to change too. 283 00:18:49,280 --> 00:18:52,829 Suze: You need to change to a stance of making sure 284 00:18:52,829 --> 00:18:56,469 Suze: that you count every penny and you make every penny count. 285 00:18:57,489 --> 00:19:00,800 Suze: That you really stay involved with your investments. You look 286 00:19:00,800 --> 00:19:04,359 Suze: at what you have, you make decisions and you stay 287 00:19:04,359 --> 00:19:08,160 Suze: calm with it. And if you're investing in good quality ETFs, 288 00:19:08,599 --> 00:19:15,069 Suze: individual stocks, mutual funds, bonds, whatever, great, then just stick 289 00:19:15,069 --> 00:19:18,520 Suze: with it. For those of you who are retired or 290 00:19:18,520 --> 00:19:20,319 Suze: close to retiring. 291 00:19:21,229 --> 00:19:27,310 Suze: More than ever before, it is really important that you 292 00:19:27,310 --> 00:19:32,229 Suze: have that 3 to 5 years in your retirement accounts 293 00:19:32,229 --> 00:19:33,629 Suze: in cash. 294 00:19:34,410 --> 00:19:38,359 Suze: Do you remember me telling you that I do not 295 00:19:38,359 --> 00:19:43,478 Suze: want 100% of your money in your retirement accounts if 296 00:19:43,479 --> 00:19:47,439 Suze: you are near to retirement or are retired in the 297 00:19:47,439 --> 00:19:52,040 Suze: stock market? I want it in cash, which means in 298 00:19:52,040 --> 00:19:56,959 Suze: money market funds, high yield savings accounts, CDs, things like that. 299 00:19:57,839 --> 00:20:00,969 Suze: So that if you need the money. 300 00:20:02,069 --> 00:20:06,290 Suze: It's there and you don't find yourself having to sell 301 00:20:06,290 --> 00:20:10,849 Suze: stock when the stock is down just simply to do 302 00:20:10,849 --> 00:20:16,300 Suze: what meet your RMDs or whatever it may be, OK. 303 00:20:17,290 --> 00:20:23,209 Suze: That's so important I can't even tell you. So therefore, 304 00:20:23,689 --> 00:20:25,609 Suze: look at your portfolios. 305 00:20:26,270 --> 00:20:29,930 Suze: And make a decision. What should you liquidate right now? 306 00:20:30,140 --> 00:20:32,900 Suze: What should you not? things like that. 307 00:20:33,550 --> 00:20:36,619 Suze: I'm going to repeat this rule of thumb again. 308 00:20:37,390 --> 00:20:40,099 Suze: Which is money that you need, 309 00:20:41,089 --> 00:20:43,129 Suze: within 5 years, 310 00:20:44,130 --> 00:20:48,410 Suze: preferably longer but at least within 5 years is not 311 00:20:48,410 --> 00:20:51,599 Suze: money that belongs in the stock market. 312 00:20:52,410 --> 00:20:56,988 Suze: It can take anywhere from 3 to 5 years, sometimes longer, 313 00:20:57,239 --> 00:21:01,000 Suze: but normally it takes 3 to 5 years. 314 00:21:01,569 --> 00:21:04,609 Suze: From the top of the market down to the bottom 315 00:21:04,609 --> 00:21:07,369 Suze: to go back up to the top again and during 316 00:21:07,369 --> 00:21:11,260 Suze: that time if you have to access your money for 317 00:21:11,260 --> 00:21:15,209 Suze: RMDs or to live off of or whatever that is 318 00:21:15,209 --> 00:21:19,209 Suze: money that you want in a money market fund within 319 00:21:19,209 --> 00:21:23,650 Suze: your retirement accounts or a treasury bill or whatever it 320 00:21:23,650 --> 00:21:28,409 Suze: may be so that's really, really important. 321 00:21:29,180 --> 00:21:33,829 Suze: So these are all things that you really need to 322 00:21:33,829 --> 00:21:38,599 Suze: know in terms of the stocks and the ETFs that 323 00:21:38,599 --> 00:21:43,619 Suze: I have recommended in the past. I'm absolutely sticking by them. 324 00:21:43,910 --> 00:21:49,349 Suze: Some of them have been obliterated. Absolutely true. But if 325 00:21:49,349 --> 00:21:54,949 Suze: you had a diversified portfolio because I own all of 326 00:21:54,949 --> 00:21:58,420 Suze: those stocks that I've mentioned to you, plus many, many more. 327 00:21:59,010 --> 00:22:04,439 Suze: When I look at my entire portfolio, I'm only down 328 00:22:04,770 --> 00:22:07,290 Suze: this year 2%. 329 00:22:08,380 --> 00:22:14,079 Suze: I'm not down 50% or 40% because I own more 330 00:22:14,079 --> 00:22:16,119 Suze: than just those stocks. 331 00:22:16,750 --> 00:22:20,579 Suze: So you can never put yourself in a situation where 332 00:22:20,579 --> 00:22:26,739 Suze: that's all you own. You only own Palantir. You only 333 00:22:26,739 --> 00:22:31,890 Suze: own whatever it may be. You have to be diversified, 334 00:22:32,119 --> 00:22:38,290 Suze: otherwise you are setting yourself up for big time losses. 335 00:22:38,349 --> 00:22:39,530 Suze: Do you hear me? 336 00:22:40,310 --> 00:22:42,609 Suze: So when you write me and say do I still 337 00:22:42,609 --> 00:22:45,919 Suze: like such and such a stock or whatever I do, 338 00:22:46,209 --> 00:22:48,728 Suze: or I would have told you like I told you 339 00:22:48,729 --> 00:22:51,438 Suze: a while ago when I thought you should get out 340 00:22:51,439 --> 00:22:53,359 Suze: of Whirlpool. 341 00:22:54,260 --> 00:22:56,849 Suze: Whirlpool, I had a feeling things were going to happen. 342 00:22:57,300 --> 00:22:59,699 Suze: I had a feeling like, you know what, this isn't 343 00:22:59,699 --> 00:23:02,599 Suze: going to go great with the terrace with everything. My 344 00:23:02,599 --> 00:23:06,890 Suze: plan for Whirlpool had totally changed. And did you get out? 345 00:23:07,060 --> 00:23:09,260 Suze: I don't know. Same thing I told you about Devon. 346 00:23:09,349 --> 00:23:13,300 Suze: Did you get out? 'Cause here's also the problem when 347 00:23:13,300 --> 00:23:15,060 Suze: I tell you about a stock. 348 00:23:15,880 --> 00:23:18,430 Suze: And then you don't listen to the Women and Money 349 00:23:18,430 --> 00:23:20,849 Suze: podcast every single week. 350 00:23:21,829 --> 00:23:25,030 Suze: Then when I do mention I would sell it and 351 00:23:25,030 --> 00:23:26,619 Suze: I would buy this instead. 352 00:23:27,380 --> 00:23:29,239 Suze: You don't know and you still own it. 353 00:23:30,089 --> 00:23:33,520 Suze: And then you're wondering what you should do. So unless 354 00:23:33,520 --> 00:23:36,718 Suze: you plan to follow along with one of my suggestions 355 00:23:36,719 --> 00:23:41,680 Suze: every single week, then I won't be buying anything that 356 00:23:41,680 --> 00:23:42,910 Suze: I tell you to buy. 357 00:23:43,719 --> 00:23:48,479 Suze: Because if you're solely depending on my opinion and you're 358 00:23:48,479 --> 00:23:54,239 Suze: not listening, then you can find yourself where you get hurt. 359 00:23:55,069 --> 00:23:58,139 Suze: All right, that's what I wanted to tell you. 360 00:23:59,180 --> 00:24:02,500 Suze: We are in one of the more volatile times I 361 00:24:02,500 --> 00:24:03,530 Suze: have ever seen. 362 00:24:04,609 --> 00:24:07,569 Suze: And volatility comes with uncertainty. 363 00:24:08,569 --> 00:24:13,040 Suze: There's enough uncertainty around, oh, to fill the Grand Canyon. 364 00:24:14,209 --> 00:24:19,589 Suze: So therefore your job now is to be certain about 365 00:24:19,589 --> 00:24:23,000 Suze: absolutely every move that you make. 366 00:24:23,680 --> 00:24:27,890 Suze: Or every move that you decide not to make, but 367 00:24:27,890 --> 00:24:31,750 Suze: the last thing I want you to do is to 368 00:24:31,750 --> 00:24:36,069 Suze: come from a place of fear, because what is the 369 00:24:36,069 --> 00:24:40,229 Suze: one internal obstacle to wealth that I always talk about? 370 00:24:40,510 --> 00:24:44,380 Suze: Fear is the main internal obstacle to wealth. 371 00:24:44,650 --> 00:24:47,719 Suze: And the best way to conquer your fear is to 372 00:24:47,719 --> 00:24:50,479 Suze: look at your statements, make a plan to get out 373 00:24:50,479 --> 00:24:56,839 Suze: of debt, have a plan, everybody, have a plan. All right, 374 00:24:57,119 --> 00:24:59,750 Suze: so until Thursday, hopefully... 375 00:25:00,739 --> 00:25:05,260 Suze: right, I will be back with Miss Travis for another 376 00:25:05,260 --> 00:25:09,948 Suze: Ask KT and Suze Anything, but until then, there's only 377 00:25:09,949 --> 00:25:11,829 Suze: one thing that I want you to remember when it 378 00:25:11,829 --> 00:25:15,149 Suze: comes to your money, and it's this people first. 379 00:25:16,310 --> 00:25:23,709 Suze: Then money, then things. Now you stay safe, strong and healthy, 380 00:25:23,930 --> 00:25:27,500 Suze: and Susie, you need to take your own advice. Bye 381 00:25:27,500 --> 00:25:29,129 Suze: bye now.