1 00:00:08,250 --> 00:00:13,270 Suze: March 22, 2026. Welcome everybody to the Women and Money podcast, 2 00:00:13,569 --> 00:00:17,930 Suze: as well as everybody smart enough to listen. Today is 3 00:00:17,930 --> 00:00:21,290 Suze: Suze School, so get out your Suze notebooks. 4 00:00:21,770 --> 00:00:26,360 Suze: And this Suze school is dedicated and really geared towards 5 00:00:26,360 --> 00:00:30,780 Suze: those of you who own a home. So many times 6 00:00:30,780 --> 00:00:36,290 Suze: we talk about gold, Bitcoin, Roth IRAs, the must-have documents, 7 00:00:36,540 --> 00:00:41,580 Suze: the emotional side of money, all those things, but the 8 00:00:41,580 --> 00:00:46,119 Suze: biggest asset that all of us have truthfully. 9 00:00:46,409 --> 00:00:50,638 Suze: is the home that we live in. It's also the 10 00:00:50,639 --> 00:00:56,569 Suze: most precious asset because it is our home. Today's podcast 11 00:00:56,569 --> 00:01:02,090 Suze: is about timing, liquidity, not timing the stock market, which 12 00:01:02,090 --> 00:01:04,169 Suze: so many of you think you can do and you'll 13 00:01:04,169 --> 00:01:07,569 Suze: never be able to do it, but timing when you 14 00:01:07,569 --> 00:01:13,389 Suze: set up access to cash, especially against your home. 15 00:01:13,830 --> 00:01:17,360 Suze: But we'll get to that in just one second. Have 16 00:01:17,360 --> 00:01:21,800 Suze: I piqued your curiosity? I should have because I am 17 00:01:21,800 --> 00:01:26,919 Suze: telling you the time is now. But first, let me 18 00:01:26,919 --> 00:01:31,720 Suze: just briefly address the stock market, the economy, and everything 19 00:01:31,720 --> 00:01:33,000 Suze: that's going on. 20 00:01:33,879 --> 00:01:38,839 Suze: We are at a time of total uncertainty. We know 21 00:01:38,839 --> 00:01:41,900 Suze: that now. We've been talking about this for a while. 22 00:01:42,440 --> 00:01:45,360 Suze: There is no way that this market is going to 23 00:01:45,360 --> 00:01:48,239 Suze: turn around and go straight back up again or even 24 00:01:48,239 --> 00:01:54,989 Suze: inch its way up until uncertainty becomes certainty, and that 25 00:01:54,989 --> 00:01:57,000 Suze: is not going to happen. 26 00:01:57,739 --> 00:02:02,599 Suze: When we are still at war, nobody really understands why, 27 00:02:02,900 --> 00:02:05,639 Suze: nobody really understands how we're gonna get out of it. 28 00:02:05,860 --> 00:02:11,020 Suze: Nobody really understands what to do when you don't know 29 00:02:11,020 --> 00:02:12,019 Suze: what to do. 30 00:02:12,710 --> 00:02:15,830 Suze: And we're seeing it show up every single day, and 31 00:02:15,830 --> 00:02:20,190 Suze: two things are affecting you big time. Obviously oil has 32 00:02:20,190 --> 00:02:23,989 Suze: been affected, which affects the price per gallon that you 33 00:02:23,990 --> 00:02:29,710 Suze: pay at the gas pump, up tremendously. Number one. Number two, 34 00:02:29,850 --> 00:02:35,429 Suze: it's affecting us, not the war, but the indecisions in Washington. 35 00:02:35,669 --> 00:02:39,139 Suze: Shame on them, all of them. They all make me 36 00:02:39,139 --> 00:02:41,690 Suze: so mad I can't even tell you. However, 37 00:02:42,639 --> 00:02:45,740 Suze: good luck now because the price of oil, the price 38 00:02:45,960 --> 00:02:49,960 Suze: of airline tickets have skyrocketed and they're going to continue 39 00:02:49,960 --> 00:02:53,839 Suze: to do so. That's number one. Number two, good luck 40 00:02:53,839 --> 00:02:57,399 Suze: if you even bought an airline ticket to go somewhere. 41 00:02:58,008 --> 00:03:01,329 Suze: Being able to get to your airplane on time given 42 00:03:01,570 --> 00:03:05,160 Suze: that the line for TSA is about three hours long 43 00:03:05,160 --> 00:03:10,049 Suze: right now if the airports even remain open, because if 44 00:03:10,050 --> 00:03:14,410 Suze: those people continue to go without a paycheck, some airports 45 00:03:14,410 --> 00:03:18,269 Suze: are gonna have to close down and then what? Like, 46 00:03:18,369 --> 00:03:20,769 Suze: do you think that they could at least pass a 47 00:03:20,770 --> 00:03:24,800 Suze: bill that paid the people that are working their paychecks? 48 00:03:25,288 --> 00:03:27,508 Suze: Don't you think that could happen? 49 00:03:28,229 --> 00:03:34,800 Suze: But obviously not. Once again, I state this government cannot 50 00:03:34,800 --> 00:03:38,759 Suze: even save itself, so it cannot save you. So you 51 00:03:38,759 --> 00:03:43,110 Suze: are not to ever be dependent on what happens with them. 52 00:03:43,800 --> 00:03:47,320 Suze: Do you understand that? Are you getting that? Now, why 53 00:03:47,320 --> 00:03:51,059 Suze: I have said that for year after year after year. 54 00:03:51,779 --> 00:03:56,300 Suze: So you have to make moves that protect yourself no 55 00:03:56,300 --> 00:03:57,559 Suze: matter what. 56 00:03:58,300 --> 00:04:00,740 Suze: I can tell you that when it comes to the markets, 57 00:04:00,779 --> 00:04:05,619 Suze: these markets will absolutely go back up. I just don't 58 00:04:05,619 --> 00:04:10,619 Suze: know when, so you have to be a financial warrior here. 59 00:04:10,649 --> 00:04:13,919 Suze: You have to not be afraid. You have to know 60 00:04:14,220 --> 00:04:18,640 Suze: what you have, understand what you own, all of that, 61 00:04:18,899 --> 00:04:21,149 Suze: and just be patient. 62 00:04:21,670 --> 00:04:24,329 Suze: If you don't have money to continue to dollar cost 63 00:04:24,329 --> 00:04:28,390 Suze: average or you're afraid to dollar cost average, then just don't, 64 00:04:28,709 --> 00:04:33,070 Suze: but don't sell here as long as you have good 65 00:04:33,070 --> 00:04:37,910 Suze: quality stocks, ETFs, hopefully things that pay you a dividend 66 00:04:38,109 --> 00:04:42,709 Suze: like Chevron that happens to be at $202 right now. Oh, 67 00:04:42,790 --> 00:04:46,230 Suze: what was it when we did that podcast a little 68 00:04:46,230 --> 00:04:49,709 Suze: while ago? 0 $190 right around there. 69 00:04:50,420 --> 00:04:56,178 Suze: When so many armchair pundits said don't buy it here, 70 00:04:56,260 --> 00:04:57,420 Suze: it's at its high. 71 00:04:58,380 --> 00:05:01,720 Suze: All right, just say, dividends. 72 00:05:02,869 --> 00:05:07,089 Suze: Safety, knowing what you have, and if you're afraid, fine, 73 00:05:07,589 --> 00:05:10,670 Suze: just don't invest any more if you don't want, but 74 00:05:10,670 --> 00:05:14,909 Suze: do not sell. And if you're in a retirement account 75 00:05:14,910 --> 00:05:18,859 Suze: and hopefully smart enough to have a Roth retirement account, 76 00:05:19,190 --> 00:05:22,769 Suze: you are dollar cost averaging every single month in there, 77 00:05:22,988 --> 00:05:24,868 Suze: no matter what. 78 00:05:25,809 --> 00:05:29,369 Suze: Let's go back to real estate now. 79 00:05:31,089 --> 00:05:32,649 Suze: All right, listen to me. 80 00:05:33,579 --> 00:05:39,019 Suze: It was 2006, I was on the Suze Orman Show. 81 00:05:39,829 --> 00:05:43,308 Suze: The stock market was doing great. Everything was as it 82 00:05:43,309 --> 00:05:50,690 Suze: should be. Real estate had been skyrocketing. Everybody felt so positive. 83 00:05:51,428 --> 00:05:55,709 Suze: And I started to see cracks in the real estate market, 84 00:05:55,790 --> 00:05:59,170 Suze: as by the way, I'm starting to see cracks again, 85 00:05:59,510 --> 00:06:03,790 Suze: believe it or not, but that's besides the point. So, 86 00:06:03,829 --> 00:06:07,089 Suze: here we are, 2006. 87 00:06:07,920 --> 00:06:12,238 Suze: And I'm telling everybody at that moment in time, be 88 00:06:12,238 --> 00:06:15,920 Suze: very careful. I wouldn't be buying something right now if 89 00:06:15,920 --> 00:06:18,928 Suze: I were you. I would also start to be very 90 00:06:18,928 --> 00:06:22,969 Suze: careful about the stock market because both of those sometimes 91 00:06:22,970 --> 00:06:25,570 Suze: go hand in hand. 92 00:06:26,350 --> 00:06:33,079 Suze: And what happened in 2006 and 2007 and 2008 is 93 00:06:33,079 --> 00:06:37,140 Suze: not only did real estate plummet, all right, that's one thing, 94 00:06:37,760 --> 00:06:41,799 Suze: but credit absolutely tightened. 95 00:06:42,589 --> 00:06:47,790 Suze: I saw people and listen closely right now who lost 96 00:06:47,790 --> 00:06:51,029 Suze: their jobs because of the depression. Everybody calls it a recession, 97 00:06:51,109 --> 00:06:54,029 Suze: but it was a true depression in my opinion. They 98 00:06:54,029 --> 00:06:55,410 Suze: lost their jobs. 99 00:06:56,670 --> 00:06:59,988 Suze: They then didn't have the money to do what? Pay 100 00:06:59,988 --> 00:07:05,450 Suze: their mortgage payments. Then what happened at that point is 101 00:07:05,450 --> 00:07:08,909 Suze: they couldn't even borrow against the value in their homes 102 00:07:08,910 --> 00:07:10,570 Suze: because they didn't have a job. 103 00:07:11,649 --> 00:07:15,070 Suze: If they had credit cards, do you remember this, everybody, 104 00:07:15,290 --> 00:07:18,359 Suze: if they had credit cards and they had available limits, 105 00:07:18,609 --> 00:07:22,929 Suze: so many people got letters saying your credit limit has 106 00:07:22,929 --> 00:07:26,500 Suze: been frozen now if you had a credit card or 107 00:07:26,500 --> 00:07:30,470 Suze: we'll pay you actually to pay off your credit card, 108 00:07:31,410 --> 00:07:35,489 Suze: everything kind of came to a stop and people didn't 109 00:07:35,489 --> 00:07:36,570 Suze: know where to turn. 110 00:07:37,329 --> 00:07:42,529 Suze: And here's what was so fascinating about that is as 111 00:07:42,529 --> 00:07:45,929 Suze: real estate started to go down and down and down. 112 00:07:46,839 --> 00:07:51,790 Suze: And people were losing their jobs as the stock market 113 00:07:52,250 --> 00:07:56,010 Suze: went down about 50 to 57%. Do you know, the 114 00:07:56,010 --> 00:08:00,049 Suze: Standard and Poor's 500 index went down during that period 115 00:08:00,049 --> 00:08:06,489 Suze: of time, almost 57% from about October, I think it 116 00:08:06,489 --> 00:08:10,809 Suze: was 2007 to March of 2009. 117 00:08:12,230 --> 00:08:15,829 Suze: Think about that. So there was really no place to 118 00:08:15,829 --> 00:08:18,549 Suze: get money and that wasn't the time to be selling 119 00:08:18,549 --> 00:08:25,019 Suze: stocks and things like that. What happened, which really was 120 00:08:25,019 --> 00:08:29,750 Suze: a big financial home wake up call, is that you 121 00:08:29,750 --> 00:08:34,710 Suze: think your homes are worth X. They may be worth 122 00:08:34,710 --> 00:08:38,630 Suze: X right now, but if your neighbor 123 00:08:39,359 --> 00:08:43,719 Suze: happens to be laid off. Happens to lose their job. Oh, 124 00:08:43,849 --> 00:08:48,450 Suze: AI has displaced them. Oh, they don't have an emergency 125 00:08:48,450 --> 00:08:52,049 Suze: savings account. They've already maxed out their credit cards. Everything 126 00:08:52,049 --> 00:08:54,849 Suze: is so expensive for them, and they don't have the 127 00:08:54,849 --> 00:08:57,599 Suze: money to pay their mortgage payment. 128 00:08:58,359 --> 00:09:00,799 Suze: And it goes on for one month or two months 129 00:09:00,799 --> 00:09:04,130 Suze: or whatever, and now they can't get a home equity 130 00:09:04,130 --> 00:09:07,340 Suze: line of credit. Why? 'Cause they don't have a job anymore, 131 00:09:07,520 --> 00:09:10,439 Suze: they don't have income, even though they had a lot 132 00:09:10,440 --> 00:09:12,059 Suze: of equity in their home. 133 00:09:13,200 --> 00:09:17,199 Suze: But now what happens is if they don't have the 134 00:09:17,200 --> 00:09:20,909 Suze: money to pay that mortgage, please listen to me closely. 135 00:09:21,200 --> 00:09:24,609 Suze: This happened over and over again, and I'm not saying 136 00:09:24,799 --> 00:09:28,159 Suze: it's going to happen to you, but just know the 137 00:09:28,159 --> 00:09:32,559 Suze: possibilities out there because do you really know the finances 138 00:09:32,559 --> 00:09:36,539 Suze: of your neighbors of the homes on your block, do you? 139 00:09:37,080 --> 00:09:39,780 Suze: Because if any of those homes near you 140 00:09:40,400 --> 00:09:43,520 Suze: have to go into foreclosure and there is a fire 141 00:09:43,520 --> 00:09:48,119 Suze: sale on that house. The value of the house that 142 00:09:48,119 --> 00:09:52,640 Suze: went into foreclosure, that is the comp that's going to 143 00:09:52,640 --> 00:09:56,199 Suze: take over the value of your home. 144 00:09:56,989 --> 00:10:01,200 Suze: Did you understand what I just said, so while everybody 145 00:10:01,200 --> 00:10:05,960 Suze: may think everything is great, everything is exactly how it 146 00:10:05,960 --> 00:10:06,679 Suze: should be. 147 00:10:07,750 --> 00:10:13,069 Suze: If somebody around you happens to go into foreclosure, it 148 00:10:13,070 --> 00:10:17,190 Suze: will affect the value of your home, whether you know 149 00:10:17,190 --> 00:10:21,309 Suze: it or not. You know, one of the favorite topics 150 00:10:21,309 --> 00:10:22,829 Suze: that I've always talked about 151 00:10:23,679 --> 00:10:29,260 Suze: is to invest in the known versus the unknown. So, 152 00:10:29,799 --> 00:10:32,760 Suze: I want you to start to write things down right now. 153 00:10:33,390 --> 00:10:38,010 Suze: What is known in your life right now? 154 00:10:39,409 --> 00:10:42,929 Suze: Hopefully you know you have a job. You have income 155 00:10:42,929 --> 00:10:47,609 Suze: coming in, so you have income to pay your mortgage. 156 00:10:47,890 --> 00:10:53,409 Suze: You know the approximate value of your home. Maybe you 157 00:10:53,409 --> 00:10:56,169 Suze: know right now that you are healthy or at least 158 00:10:56,169 --> 00:10:57,329 Suze: able to work. 159 00:10:57,869 --> 00:11:02,909 Suze: You know many things about your financial situation. You also 160 00:11:02,909 --> 00:11:06,630 Suze: know if you don't have an emergency account, you know 161 00:11:06,630 --> 00:11:09,710 Suze: if your credit cards are maxed, you know that the 162 00:11:09,710 --> 00:11:13,950 Suze: only asset that you have really is your home, you 163 00:11:13,950 --> 00:11:16,950 Suze: know that the only money that you have is the cash, 164 00:11:17,059 --> 00:11:18,919 Suze: the equity in your home. 165 00:11:19,619 --> 00:11:23,380 Suze: You know that many of you may be house rich, 166 00:11:23,460 --> 00:11:28,260 Suze: cash poor, you know all these things at this point 167 00:11:28,260 --> 00:11:29,190 Suze: in time. 168 00:11:30,349 --> 00:11:32,719 Suze: But let's talk about the unknown. 169 00:11:33,650 --> 00:11:38,840 Suze: The unknown really is, and artificial intelligence plays into this, 170 00:11:38,969 --> 00:11:41,099 Suze: the economy plays into this. 171 00:11:42,049 --> 00:11:45,489 Suze: Look at what's happening with the TSA. Look what happened 172 00:11:45,489 --> 00:11:48,559 Suze: with the federal government when all of a sudden Doggie, 173 00:11:48,609 --> 00:11:50,968 Suze: I call it Doggie, D O G E, Doggie came 174 00:11:50,969 --> 00:11:54,690 Suze: in and hundreds of thousands of people lost a job 175 00:11:54,690 --> 00:12:00,590 Suze: that they thought they were gonna have forever, good paying jobs, really, everybody? 176 00:12:01,169 --> 00:12:04,969 Suze: So the question becomes that you have to ask and answer. 177 00:12:05,369 --> 00:12:08,869 Suze: Will you always know that you have that job? 178 00:12:09,659 --> 00:12:13,619 Suze: Do you always know that your income is going to 179 00:12:13,619 --> 00:12:16,979 Suze: be there because even if it is not there, do 180 00:12:16,979 --> 00:12:21,859 Suze: you know that you have enough money in an emergency 181 00:12:21,859 --> 00:12:25,020 Suze: account to pay your mortgage, pay your expenses for at 182 00:12:25,020 --> 00:12:27,119 Suze: least 12 months? 183 00:12:27,770 --> 00:12:31,210 Suze: Do you know that? do you know that your health 184 00:12:31,210 --> 00:12:35,169 Suze: will always allow you to work? All of you know 185 00:12:35,169 --> 00:12:39,590 Suze: that I had a very serious health hazard that happened 186 00:12:39,690 --> 00:12:45,650 Suze: on July 23rd, 2020, and God forbid if I didn't 187 00:12:45,650 --> 00:12:48,409 Suze: have the money that I had, I don't know, we 188 00:12:48,409 --> 00:12:49,549 Suze: would have lost everything. 189 00:12:50,719 --> 00:12:55,020 Suze: And why? Because there's no way I could have worked. 190 00:12:55,320 --> 00:12:58,039 Suze: Thank God I'm finally OK. 191 00:12:58,849 --> 00:13:01,210 Suze: But it was a struggle. 192 00:13:02,299 --> 00:13:05,780 Suze: Anything can happen at any time, which is why I'm 193 00:13:05,780 --> 00:13:10,459 Suze: probably so passionate about this, 'cause I saw it happen 194 00:13:10,460 --> 00:13:15,099 Suze: to me, and the real question becomes what can you 195 00:13:15,099 --> 00:13:20,718 Suze: do today while everything is OK to make the unknown 196 00:13:20,719 --> 00:13:24,219 Suze: manageable later if it should happen. 197 00:13:24,969 --> 00:13:28,450 Suze: Now I want you to listen to me closely here. 198 00:13:29,559 --> 00:13:34,599 Suze: Do you remember all the way back in December of 2019, 199 00:13:34,679 --> 00:13:37,619 Suze: you might wanna go back to some of those podcasts 200 00:13:37,960 --> 00:13:41,880 Suze: and I kept saying, you know, I just have this feeling. 201 00:13:42,119 --> 00:13:47,109 Suze: I don't know why, but I really think something horrible 202 00:13:47,109 --> 00:13:52,780 Suze: is going to happen in February or March of 2020. 203 00:13:53,039 --> 00:13:57,039 Suze: I didn't know what, but I just had this feeling. 204 00:13:58,030 --> 00:14:01,830 Suze: All right everybody, you can go back and verify it 205 00:14:02,099 --> 00:14:08,119 Suze: and podcast after podcast I would say that and came January, 206 00:14:08,229 --> 00:14:12,909 Suze: February and all of 2020 and what also happened at 207 00:14:12,909 --> 00:14:17,109 Suze: that time it was the pandemic and think about what 208 00:14:17,109 --> 00:14:20,080 Suze: happened to many of your jobs whether you were a 209 00:14:20,080 --> 00:14:23,669 Suze: small business owner or whatever during that time and how 210 00:14:23,669 --> 00:14:26,250 Suze: did that affect when you no longer had income. 211 00:14:27,359 --> 00:14:30,489 Suze: Where your ability to pay your mortgage and even access 212 00:14:30,489 --> 00:14:34,539 Suze: the equity in your home when you didn't have income. 213 00:14:35,460 --> 00:14:38,820 Suze: So, a little while ago, I want to say maybe 214 00:14:38,820 --> 00:14:40,969 Suze: four or five months ago. 215 00:14:41,710 --> 00:14:46,349 Suze: I started to work with Alliant Credit Union who sponsors 216 00:14:46,349 --> 00:14:50,429 Suze: this podcast. Now, you have to know before I go on, 217 00:14:50,710 --> 00:14:53,989 Suze: I do not make one penny if any of you 218 00:14:53,989 --> 00:14:57,469 Suze: do this. I do not ever make one penny if 219 00:14:57,469 --> 00:15:00,549 Suze: ever you invest any money with a lion, get a 220 00:15:00,549 --> 00:15:04,109 Suze: certificate with them, or do what I'm about to talk about. 221 00:15:04,190 --> 00:15:08,010 Suze: I do not. They simply just sponsor the podcast. 222 00:15:08,859 --> 00:15:09,619 Suze: That's it. 223 00:15:10,859 --> 00:15:15,070 Suze: I did, however, start to work with them a few 224 00:15:15,070 --> 00:15:21,309 Suze: months ago, and we created together what I think is 225 00:15:21,309 --> 00:15:27,369 Suze: the Ultimate Opportunity Home Equity Line of Credit. I want 226 00:15:27,369 --> 00:15:30,070 Suze: you to listen to me now for a second. 227 00:15:31,760 --> 00:15:36,669 Suze: This equity line of credit really is very different than 228 00:15:36,669 --> 00:15:41,710 Suze: almost 100% of the home equity lines of credit out there. 229 00:15:42,859 --> 00:15:44,039 Suze: First of all, 230 00:15:45,549 --> 00:15:48,919 Suze: it has a six month introductory rate, if you have 231 00:15:48,919 --> 00:15:50,260 Suze: a great credit score, 232 00:15:51,039 --> 00:15:58,820 Suze: of 3.99%, and that is locked for six months. All right. 233 00:15:59,880 --> 00:16:06,320 Suze: After the six months, it goes to 6.75% depending on 234 00:16:06,320 --> 00:16:11,799 Suze: what prime is, but what's so fascinating and I love 235 00:16:11,799 --> 00:16:18,239 Suze: about this HELOC is that most HEOCs, number one. 236 00:16:19,000 --> 00:16:24,919 Suze: Your rate is prime plus 0.5% or 1% or 2%. 237 00:16:25,869 --> 00:16:30,030 Suze: Assuming a good credit score, and you can get your 238 00:16:30,030 --> 00:16:33,330 Suze: credit score really anywhere right now. Your vantage score is 239 00:16:33,330 --> 00:16:37,590 Suze: all you need to know of 780 or above, it 240 00:16:37,590 --> 00:16:44,549 Suze: will be prime plus 0 points plus 0. So you 241 00:16:44,549 --> 00:16:49,690 Suze: will be paying at all times as that prime changes. 242 00:16:51,090 --> 00:16:54,619 Suze: 0% above prime. 243 00:16:55,440 --> 00:16:59,210 Suze: And that can change once a month, just so you know. 244 00:16:59,330 --> 00:17:00,690 Suze: Now listen again. 245 00:17:01,869 --> 00:17:06,790 Suze: Interest rates very probably will stay right where they are 246 00:17:06,790 --> 00:17:11,530 Suze: right now or possibly go down. The Fed's rate, which 247 00:17:11,530 --> 00:17:16,869 Suze: prime is based on, will probably go down because President 248 00:17:16,869 --> 00:17:19,949 Suze: Trump wants to put in a new Fed chief who 249 00:17:19,949 --> 00:17:24,829 Suze: wants to lower interest rates, but I doubt highly that 250 00:17:24,829 --> 00:17:28,229 Suze: you're going to see them go up, so that's number one. 251 00:17:28,910 --> 00:17:33,030 Suze: Number two, there are no fees on any level to 252 00:17:33,030 --> 00:17:38,099 Suze: get this home equity line of credit. Number three, what 253 00:17:38,099 --> 00:17:41,390 Suze: I love about this home equity line of credit is 254 00:17:41,390 --> 00:17:44,349 Suze: you do not have to use it. 255 00:17:45,540 --> 00:17:49,079 Suze: You can apply for this, isn't gonna cost you anything. 256 00:17:50,790 --> 00:17:54,910 Suze: And it can just sit there as an emergency in 257 00:17:54,910 --> 00:17:58,989 Suze: case one of the unknowns happened to strike you, and 258 00:17:58,989 --> 00:18:03,420 Suze: you need to access the equity in your house. It 259 00:18:03,420 --> 00:18:07,709 Suze: will be there for you. Many home equity lines of credit, 260 00:18:07,790 --> 00:18:09,790 Suze: when you take it out, oh, you have to use 261 00:18:09,790 --> 00:18:12,869 Suze: it right away because they want to start making interest 262 00:18:12,869 --> 00:18:16,989 Suze: on you as fast as they can, not here. 263 00:18:18,010 --> 00:18:21,729 Suze: You do not have to use it, all right, everybody, 264 00:18:21,959 --> 00:18:24,569 Suze: you have a 10 year period of time for that. 265 00:18:24,890 --> 00:18:28,619 Suze: I think that will cover you now for most emergencies. 266 00:18:29,560 --> 00:18:32,599 Suze: There is no penalty if you want to pay it 267 00:18:32,599 --> 00:18:36,919 Suze: back above just interest only or whatever, you can, you 268 00:18:36,920 --> 00:18:41,479 Suze: can do whatever you want in that regard. Now, listen 269 00:18:41,479 --> 00:18:45,479 Suze: closely because there are certain things you need to know 270 00:18:45,479 --> 00:18:46,839 Suze: about it, all right. 271 00:18:47,459 --> 00:18:51,339 Suze: Number one, there is no fee on any level. Listen, 272 00:18:51,449 --> 00:18:54,239 Suze: they pay for appraisals unless you're doing a really big 273 00:18:54,459 --> 00:18:57,410 Suze: home equity line of credit, but in most cases, a 274 00:18:57,410 --> 00:19:00,979 Suze: client will pay for the appraisals, everything, no charge the 275 00:19:00,979 --> 00:19:01,760 Suze: first year. 276 00:19:03,239 --> 00:19:07,000 Suze: From then on, after the first year there is a 277 00:19:07,000 --> 00:19:12,159 Suze: $50 a year fee, not a big deal, just to 278 00:19:12,160 --> 00:19:16,079 Suze: be able to have access to emergency money that's locked 279 00:19:16,079 --> 00:19:21,270 Suze: up in your home. Got that. If you close it 280 00:19:21,800 --> 00:19:24,839 Suze: within the first three years, 281 00:19:25,500 --> 00:19:29,459 Suze: there will be a $200 closure fee, so you are 282 00:19:29,459 --> 00:19:31,339 Suze: not to take this out if you think all of 283 00:19:31,339 --> 00:19:34,979 Suze: a sudden you're gonna close it right away or whatever. 284 00:19:35,260 --> 00:19:39,399 Suze: You have to know that this is your emergency line 285 00:19:39,579 --> 00:19:43,239 Suze: of equity that has now been locked in for you 286 00:19:43,739 --> 00:19:45,160 Suze: in your home. 287 00:19:46,760 --> 00:19:49,280 Suze: You don't have to use it. 288 00:19:50,229 --> 00:19:53,389 Suze: And I really think that if you own a home 289 00:19:53,390 --> 00:19:57,629 Suze: right now, and your home is valued at a lot, 290 00:19:57,949 --> 00:20:00,150 Suze: and you have good equity in it, 291 00:20:00,819 --> 00:20:03,250 Suze: Right? So you have to have a good equity, uh, 292 00:20:03,459 --> 00:20:07,180 Suze: you know, loan to value ratio there of at least 70-80%. 293 00:20:07,260 --> 00:20:09,619 Suze: You have to do that, by the way. You can't 294 00:20:09,619 --> 00:20:13,780 Suze: take all your equity out, but why not set up. 295 00:20:14,900 --> 00:20:19,709 Suze: A home equity line of credit just in case. 296 00:20:20,540 --> 00:20:27,609 Suze: Now those people back in 2006 and 2007, if they 297 00:20:27,609 --> 00:20:33,419 Suze: had taken that advice at that point in time, they 298 00:20:33,420 --> 00:20:36,000 Suze: may have been able to save their home. 299 00:20:36,930 --> 00:20:42,410 Suze: Keep their home because eventually everything did come back. 300 00:20:43,400 --> 00:20:46,640 Suze: So this is something that I want you all to 301 00:20:46,640 --> 00:20:50,520 Suze: do seriously, if you own a home. 302 00:20:51,359 --> 00:20:54,719 Suze: Unless you own that home outright, you know you have 303 00:20:54,719 --> 00:20:57,640 Suze: more money than you'll ever need, that it's not a 304 00:20:57,640 --> 00:21:00,399 Suze: big deal. OK, I don't have a problem with that. 305 00:21:01,160 --> 00:21:05,410 Suze: But if you're like most people in America today that 306 00:21:05,410 --> 00:21:06,688 Suze: have a mortgage 307 00:21:07,390 --> 00:21:10,540 Suze: that really you couldn't carry yourself for more than one 308 00:21:10,540 --> 00:21:14,150 Suze: or two years without accessing your stock portfolio, which is 309 00:21:14,150 --> 00:21:16,349 Suze: something I do not want you to look at as 310 00:21:16,349 --> 00:21:20,109 Suze: an emergency account, especially when the markets are down and 311 00:21:20,109 --> 00:21:23,170 Suze: could go down even more considerably from here. 312 00:21:23,869 --> 00:21:26,869 Suze: That is not where I want you to go, where 313 00:21:26,869 --> 00:21:30,349 Suze: I would want you to go to help yourselves, not 314 00:21:30,349 --> 00:21:33,349 Suze: on your credit cards because interest rates will be too high, 315 00:21:33,560 --> 00:21:38,869 Suze: whatever it may be, would be this particular home equity 316 00:21:38,869 --> 00:21:41,949 Suze: line of credit. We worked hard on it. 317 00:21:42,500 --> 00:21:48,459 Suze: To give you every possible advantage over other home equity 318 00:21:48,459 --> 00:21:52,290 Suze: lines of credit. Now maybe there'll be another one, whatever, 319 00:21:52,540 --> 00:21:55,170 Suze: but I have to tell you I don't think it 320 00:21:55,170 --> 00:22:00,800 Suze: will give you all the advantages that I just gave you. 321 00:22:01,380 --> 00:22:04,540 Suze: Many of you already have home equity lines of credit 322 00:22:04,540 --> 00:22:07,900 Suze: out there, and I have a feeling that if you 323 00:22:07,900 --> 00:22:09,660 Suze: compare this one. 324 00:22:10,069 --> 00:22:14,079 Suze: To the one that you already have, chances are you're 325 00:22:14,079 --> 00:22:21,020 Suze: gonna wanna transfer from yours to this one, seriously, because 326 00:22:21,079 --> 00:22:24,639 Suze: it really is one of the best ones out there now. 327 00:22:24,979 --> 00:22:26,839 Suze: You are not to just get this for you to 328 00:22:26,839 --> 00:22:31,050 Suze: have a checkbook to spend it on anything you want, uh, uh, 329 00:22:31,400 --> 00:22:33,119 Suze: if you have credit card debt. 330 00:22:33,430 --> 00:22:36,550 Suze: You are not to transfer your credit card debt to 331 00:22:36,550 --> 00:22:41,670 Suze: the equity in your home. You never do an unsecured 332 00:22:41,670 --> 00:22:45,109 Suze: loan like credit card debt and transfer it to a 333 00:22:45,109 --> 00:22:49,149 Suze: secured loan like a home equity line of credit. This 334 00:22:49,150 --> 00:22:50,489 Suze: is not for you. 335 00:22:51,349 --> 00:22:57,389 Suze: We created this for people who want backup just in 336 00:22:57,390 --> 00:23:01,030 Suze: case while everything is still known and everything is good 337 00:23:01,189 --> 00:23:03,750 Suze: and the value of your house is still as it 338 00:23:03,750 --> 00:23:06,709 Suze: should be so it doesn't cost you anything you don't 339 00:23:06,709 --> 00:23:10,630 Suze: have to use it, great rates or for those of 340 00:23:10,630 --> 00:23:13,410 Suze: you who already have a home equity line of credit 341 00:23:13,589 --> 00:23:18,170 Suze: at a higher rate you're paying more transfer it just 342 00:23:18,589 --> 00:23:19,879 Suze: that simple. 343 00:23:20,540 --> 00:23:23,260 Suze: So, I want all of you seriously now, and I'm 344 00:23:23,260 --> 00:23:27,180 Suze: not joking around here, everybody, I want you to go 345 00:23:27,180 --> 00:23:33,339 Suze: to my alliant.com, M Y A L L I A 346 00:23:33,339 --> 00:23:36,099 Suze: N T dot com. It will be right there on 347 00:23:36,099 --> 00:23:39,399 Suze: the front page when you go there, and at least 348 00:23:39,780 --> 00:23:42,680 Suze: check it out. It's not gonna cost you anything. 349 00:23:43,150 --> 00:23:46,310 Suze: There's nothing to lose by getting it. And why do 350 00:23:46,310 --> 00:23:50,989 Suze: I feel so strongly about this? Because I saw what 351 00:23:50,989 --> 00:23:59,089 Suze: happened in 2006 and 2007 to way, way too many people. 352 00:23:59,630 --> 00:24:04,609 Suze: Could that happen again? Not to that degree, I don't think, 353 00:24:04,829 --> 00:24:07,949 Suze: but I never thought that would have happened either. 354 00:24:08,689 --> 00:24:14,149 Suze: It is seriously important to invest in the known right now. 355 00:24:15,510 --> 00:24:19,880 Suze: Not the unknown. You know where we are. You know 356 00:24:19,880 --> 00:24:23,160 Suze: what's happening in your life right now. I'm asking you 357 00:24:23,160 --> 00:24:29,750 Suze: all to take advantage of it. Just that simple. All right, everybody. 358 00:24:30,040 --> 00:24:34,479 Suze: So until Thursday when Miss Travis joins us again on 359 00:24:34,479 --> 00:24:37,099 Suze: Ask KT and Suze Anything. 360 00:24:37,630 --> 00:24:40,629 Suze: Know, I love you all so very, very much. My 361 00:24:40,630 --> 00:24:45,389 Suze: hearts go out seriously to all the armed forces that 362 00:24:45,390 --> 00:24:47,569 Suze: may be deployed... who knows... 363 00:24:48,380 --> 00:24:51,699 Suze: over to Iran. My heart goes out to all the 364 00:24:51,699 --> 00:24:56,319 Suze: TSA workers. I get your emails. I know how you're struggling, 365 00:24:56,900 --> 00:25:00,060 Suze: you know, I get it. I so get it, but 366 00:25:00,219 --> 00:25:01,900 Suze: we are where we are. 367 00:25:02,790 --> 00:25:08,389 Suze: And you have to prepare today for the unknowns of tomorrow. 368 00:25:08,839 --> 00:25:11,359 Suze: So until then, there's only one thing that matters when 369 00:25:11,359 --> 00:25:15,569 Suze: it comes to money, and it is this people first, 370 00:25:16,199 --> 00:25:22,030 Suze: then money, then things. Go to my alliant.com, M Y 371 00:25:22,030 --> 00:25:26,880 Suze: A L L I A N T.com, and just check 372 00:25:26,880 --> 00:25:30,569 Suze: it out. Now, you stay safe. Bye bye.