1 00:00:29,620 --> 00:00:35,590 Suze: April 30th 2023. Welcome everybody to the women and Money 2 00:00:35,598 --> 00:00:41,389 Suze: podcast as well as everybody smart enough to listen. So 3 00:00:41,400 --> 00:00:46,989 Suze: today is Suze School and today I want to talk 4 00:00:47,000 --> 00:00:50,569 Suze: about what I know for sure 5 00:00:51,270 --> 00:00:55,200 Suze: with things that have happened in the economy as well 6 00:00:55,209 --> 00:00:58,830 Suze: as touching a little bit on oil and P X 7 00:00:58,840 --> 00:01:00,700 Suze: D because I know all of you want to know 8 00:01:00,709 --> 00:01:04,040 Suze: about it. I am not going to be talking about 9 00:01:04,050 --> 00:01:08,980 Suze: series I Bonds today. Even though I know that the 10 00:01:08,989 --> 00:01:13,819 Suze: rate is at 4.3% the fixed rate is at 0.90 11 00:01:14,260 --> 00:01:17,539 Suze: and everything, I haven't changed my mind about it 12 00:01:17,930 --> 00:01:20,449 Suze: so we can talk about it a little bit if 13 00:01:20,459 --> 00:01:23,639 Suze: you want to next week. But really there's not much 14 00:01:23,650 --> 00:01:28,019 Suze: more that I want to say. And the reason is 15 00:01:28,029 --> 00:01:31,699 Suze: especially as I go through what I know for sure. 16 00:01:32,870 --> 00:01:35,400 Suze: I know for sure. I want my money to be 17 00:01:35,410 --> 00:01:39,120 Suze: liquid and I can get at it when I know 18 00:01:39,129 --> 00:01:41,319 Suze: I can get at it and not have to wait 19 00:01:41,330 --> 00:01:45,660 Suze: for a period of time to do so. So that's 20 00:01:45,669 --> 00:01:49,319 Suze: just as simple of an explanation as I could give 21 00:01:49,330 --> 00:01:53,169 Suze: you as to why I'm sticking by what I talked 22 00:01:53,180 --> 00:01:56,580 Suze: about before when it came to Series I Bonds. 23 00:01:57,430 --> 00:02:01,220 Suze: So, what do I know for sure when it comes 24 00:02:01,230 --> 00:02:05,080 Suze: to the economy right here and right now? 25 00:02:06,110 --> 00:02:08,839 Suze: This is not a heavy Suze school, 26 00:02:09,529 --> 00:02:12,970 Suze: but it's really what is going on and what I 27 00:02:12,979 --> 00:02:16,419 Suze: know for sure and what you should know for sure 28 00:02:16,429 --> 00:02:18,660 Suze: about this economy. 29 00:02:19,600 --> 00:02:26,070 Suze: So get out your Suze notebooks. I wanna start with 30 00:02:26,080 --> 00:02:31,449 Suze: the banking system and regional banks because you know, it 31 00:02:31,460 --> 00:02:36,210 Suze: wasn't that long ago, what was it? March 10th when 32 00:02:36,220 --> 00:02:42,690 Suze: Silicon Valley Bank went under, when Signature Bank went under, 33 00:02:42,699 --> 00:02:44,990 Suze: when Silver Gate went under. 34 00:02:45,508 --> 00:02:49,559 Suze: I know for sure as you know, for sure, three 35 00:02:49,570 --> 00:02:54,740 Suze: banks went under and we also know that the people 36 00:02:54,750 --> 00:02:56,979 Suze: who had money in those banks 37 00:02:57,839 --> 00:03:04,080 Suze: that were over the FDIC insurance limit for whatever reason, 38 00:03:04,889 --> 00:03:09,978 Suze: the FDIC, the government and everybody decided that we were 39 00:03:09,990 --> 00:03:14,699 Suze: going to make them whole, even if they were over 40 00:03:14,710 --> 00:03:20,889 Suze: the FDIC insurance limit. Ok, whether that was wise or 41 00:03:20,899 --> 00:03:23,100 Suze: not only time will tell. 42 00:03:23,729 --> 00:03:26,460 Suze: But what's really important to understand 43 00:03:27,110 --> 00:03:31,589 Suze: is that just because they did that with those three 44 00:03:31,600 --> 00:03:36,240 Suze: banks does not mean on any level that they are 45 00:03:36,250 --> 00:03:39,800 Suze: going to do it with other banks that fail. 46 00:03:40,429 --> 00:03:44,139 Suze: And what I also know for sure is, oh, other 47 00:03:44,149 --> 00:03:49,050 Suze: banks are going to fail. There is no way that 48 00:03:49,059 --> 00:03:52,850 Suze: those are the only three banks that are going to fail. 49 00:03:52,860 --> 00:03:57,330 Suze: In fact, we'll talk about that in one second 50 00:03:58,100 --> 00:04:03,970 Suze: For we also know that as of last Friday, all 51 00:04:03,979 --> 00:04:08,429 Suze: this information came out and said that the reason those 52 00:04:08,440 --> 00:04:13,190 Suze: banks failed was because of management error. 53 00:04:14,009 --> 00:04:18,719 Suze: The people who were in charge of those banks mismanaged 54 00:04:18,730 --> 00:04:23,420 Suze: the funds. And that is the reason that they failed. 55 00:04:24,109 --> 00:04:27,070 Suze: And I know for sure that the reason that they 56 00:04:27,079 --> 00:04:33,359 Suze: were able to mismanage those funds is because back in 2018, 57 00:04:34,000 --> 00:04:40,209 Suze: the regulations were absolutely lifted to make it easier for 58 00:04:40,220 --> 00:04:44,010 Suze: banks to do what banks did when it came to 59 00:04:44,019 --> 00:04:46,779 Suze: lending and all kinds of things. 60 00:04:47,600 --> 00:04:54,190 Suze: And that because those regulations were lifted, that also contributed 61 00:04:54,200 --> 00:05:00,010 Suze: to why those banks failed because the management were allowed 62 00:05:00,019 --> 00:05:06,010 Suze: to do things that they weren't allowed to do before 2018. 63 00:05:06,839 --> 00:05:09,250 Suze: Now, I also know for sure 64 00:05:09,869 --> 00:05:15,890 Suze: that as of last Friday, First Republic Bank is most 65 00:05:15,899 --> 00:05:20,339 Suze: likely going to also go into receivership and have to 66 00:05:20,350 --> 00:05:23,399 Suze: be bailed out by the FDIC. 67 00:05:24,350 --> 00:05:28,118 Suze: What we don't know however is that if this time, 68 00:05:28,130 --> 00:05:32,000 Suze: as I mentioned just a little bit ago, for those 69 00:05:32,010 --> 00:05:36,779 Suze: people who had more money and First Republic than the 70 00:05:36,790 --> 00:05:41,659 Suze: FDIC limits, if everybody's gonna step in and say you'll 71 00:05:41,670 --> 00:05:45,579 Suze: be insured as well. Somehow I have a feeling they're 72 00:05:45,589 --> 00:05:47,238 Suze: not going to. 73 00:05:47,920 --> 00:05:49,859 Suze: Now, I just want to put a pin in this 74 00:05:49,869 --> 00:05:53,409 Suze: for a second and talk about First Republic Bank, 75 00:05:54,380 --> 00:05:58,350 Suze: Because First Republic Bank was touted 76 00:05:59,049 --> 00:06:02,899 Suze: as the bank, if you have a business 77 00:06:03,640 --> 00:06:07,239 Suze: you should go to. They were like the number one 78 00:06:07,250 --> 00:06:10,380 Suze: bank and they weren't just a regional bank, even though 79 00:06:10,390 --> 00:06:13,178 Suze: they were in San Francisco, they were in New York. 80 00:06:13,190 --> 00:06:19,690 Suze: They were a fabulous fabulous bank or so I thought 81 00:06:20,399 --> 00:06:27,079 Suze: or so Miss Travis thought because everybody, First Republic Bank 82 00:06:27,089 --> 00:06:29,160 Suze: was our bank, 83 00:06:29,769 --> 00:06:35,250 Suze: The majority of our liquid cash for our businesses for 84 00:06:35,260 --> 00:06:41,619 Suze: how we ran everything went through First Republic Bank. 85 00:06:42,260 --> 00:06:46,738 Suze: Now, I'm telling you this because I also want to 86 00:06:46,750 --> 00:06:50,779 Suze: tell you what I know for sure, which is the 87 00:06:50,790 --> 00:06:53,868 Suze: goal of money is for you to be secure. 88 00:06:54,890 --> 00:06:59,799 Suze: So it was around February 7th. I think that's around 89 00:06:59,809 --> 00:07:04,600 Suze: when it was that First Republic Bank, because we had 90 00:07:04,609 --> 00:07:07,839 Suze: money in that bank, I followed the price of the 91 00:07:07,850 --> 00:07:09,980 Suze: stock very carefully. 92 00:07:10,769 --> 00:07:16,540 Suze: And First Republic Bank was about, I think $140 a share. 93 00:07:17,459 --> 00:07:20,769 Suze: And all right, it was down still quite a bit, 94 00:07:20,779 --> 00:07:25,920 Suze: but all right, $140 a share was still a respectable price. 95 00:07:26,570 --> 00:07:30,510 Suze: And as I was watching it, right, it was a 96 00:07:30,519 --> 00:07:33,630 Suze: month later, now it was March 7th 97 00:07:34,390 --> 00:07:39,260 Suze: and the price went from a month earlier, 140 down 98 00:07:39,269 --> 00:07:40,799 Suze: to 115. 99 00:07:41,619 --> 00:07:45,790 Suze: And I was like, I'm not quite liking this KT. Now, 100 00:07:45,799 --> 00:07:50,709 Suze: remember again, it was on March 10th, that Silicon Valley 101 00:07:50,720 --> 00:07:54,828 Suze: Bank announced they were caput. Ok. 102 00:07:55,600 --> 00:08:02,709 Suze: So now we're at March 9th, right? When everybody knew 103 00:08:02,720 --> 00:08:05,970 Suze: that Silicon Valley Bank was gonna go under right around there. 104 00:08:06,130 --> 00:08:09,769 Suze: And now First Republic is at 96 105 00:08:10,559 --> 00:08:17,380 Suze: on March 13th, it was at $31 a share and Friday, 106 00:08:17,390 --> 00:08:20,170 Suze: it was at $2 a share. 107 00:08:20,769 --> 00:08:25,239 Suze: So the reason that I'm telling you this is that 108 00:08:25,250 --> 00:08:29,640 Suze: because we were customers of First Republic Bank, we started 109 00:08:29,649 --> 00:08:33,460 Suze: to get letters and emails saying there is nothing to 110 00:08:33,469 --> 00:08:37,080 Suze: worry about. We're fine. You don't need to take your 111 00:08:37,090 --> 00:08:41,039 Suze: money out, don't worry about it. And I said to KT, 112 00:08:41,049 --> 00:08:44,219 Suze: KT I want all the money out of that bank now. 113 00:08:45,020 --> 00:08:48,190 Suze: And she said, oh, Suze, I'm gonna leave my money 114 00:08:48,200 --> 00:08:52,010 Suze: in that bank because I like that bank. That's my 115 00:08:52,020 --> 00:08:55,669 Suze: checking account. I have checks here and nothing's gonna happen 116 00:08:55,679 --> 00:08:58,250 Suze: to it and it's ok. And I said KT 117 00:08:59,390 --> 00:09:02,799 Suze: I'm gonna overrule you on this and I'm putting in 118 00:09:02,809 --> 00:09:07,598 Suze: instructions that every single penny that we have in there 119 00:09:07,609 --> 00:09:13,239 Suze: needs to come out. And a few days later it 120 00:09:13,250 --> 00:09:14,479 Suze: was out. 121 00:09:15,239 --> 00:09:19,849 Suze: But KT kept saying, Suze, can't, we just leave a 122 00:09:19,859 --> 00:09:24,209 Suze: little money in there. I like that bank. It's such 123 00:09:24,219 --> 00:09:25,608 Suze: a good bank. 124 00:09:27,299 --> 00:09:33,079 Suze: Banks are not friends. Credit unions are not friends either. 125 00:09:33,530 --> 00:09:36,789 Suze: It's not about, do you like them? Do you not 126 00:09:36,799 --> 00:09:37,590 Suze: like them? 127 00:09:38,239 --> 00:09:43,118 Suze: It's, do you feel secure with your money in them? 128 00:09:43,520 --> 00:09:48,820 Suze: And once rumors start, you have to pay attention to 129 00:09:48,830 --> 00:09:53,549 Suze: those rumors. That's what I know for sure. And sure 130 00:09:53,559 --> 00:09:55,500 Suze: enough here we are 131 00:09:56,390 --> 00:10:05,520 Suze: like April 28th, 29th and First Republic Bank is going under. 132 00:10:07,219 --> 00:10:09,469 Suze: I want you to think about that for a second. 133 00:10:10,349 --> 00:10:13,159 Suze: So it's really, really important 134 00:10:13,979 --> 00:10:18,189 Suze: that you make sure that your money is someplace that 135 00:10:18,200 --> 00:10:24,049 Suze: you feel secure and that you feel safe and sound 136 00:10:25,119 --> 00:10:29,669 Suze: again. Do I have money at Alliant Credit Union? Does 137 00:10:29,679 --> 00:10:34,489 Suze: KT have money at Alliant Credit Union? Absolutely. Because I 138 00:10:34,500 --> 00:10:37,770 Suze: do feel safe and sound there. 139 00:10:38,739 --> 00:10:41,559 Suze: One thing I know for sure is that I do 140 00:10:41,570 --> 00:10:43,390 Suze: not want all of you, 141 00:10:44,099 --> 00:10:47,858 Suze: And I said this before, but it's really important to 142 00:10:47,869 --> 00:10:52,390 Suze: just keep going for the highest little interest rate here 143 00:10:52,400 --> 00:10:55,789 Suze: or there and switching your money all the time. 144 00:10:56,710 --> 00:10:59,070 Suze: So what I know for sure is that a lot 145 00:10:59,080 --> 00:11:02,659 Suze: of you are looking around and going, I can get 146 00:11:02,669 --> 00:11:05,190 Suze: a quarter of a point more here. I can get 147 00:11:05,200 --> 00:11:08,640 Suze: a half a point more there or whatever it may be. 148 00:11:09,380 --> 00:11:11,069 Suze: Just understand. 149 00:11:11,739 --> 00:11:16,190 Suze: the most important thing is not the interest rate that 150 00:11:16,200 --> 00:11:21,250 Suze: you're getting, although you want to get a good interest rate, 151 00:11:21,739 --> 00:11:26,569 Suze: but you never want your financial institution to stretch to 152 00:11:26,580 --> 00:11:32,409 Suze: get a high return simply to do what? Attract customers 153 00:11:32,700 --> 00:11:37,119 Suze: And that's exactly in many ways what Silicon Valley Bank 154 00:11:37,130 --> 00:11:40,510 Suze: was doing, making good offers that they shouldn't have been 155 00:11:40,520 --> 00:11:45,229 Suze: making and on and on. So I know for sure 156 00:11:46,270 --> 00:11:50,010 Suze: that you want to know where you are 157 00:11:50,440 --> 00:11:56,950 Suze: is safe and sound and you are absolutely invested under 158 00:11:56,960 --> 00:12:01,679 Suze: the FDIC limits depending how you have used them because 159 00:12:01,690 --> 00:12:07,219 Suze: obviously you can have more than $250,000 if in fact, 160 00:12:07,510 --> 00:12:12,988 Suze: you are using it correctly. Same holds true with credit unions. However, 161 00:12:13,000 --> 00:12:18,709 Suze: they are insured by NCUA, banks FDIC. Ok, 162 00:12:19,479 --> 00:12:21,049 Suze: let's continue. Now, 163 00:12:21,690 --> 00:12:24,299 Suze: what I also know for sure 164 00:12:25,070 --> 00:12:30,159 Suze: is that stimulus checks and easy money lending 165 00:12:31,000 --> 00:12:35,369 Suze: and the very low interest rates of a few years 166 00:12:35,380 --> 00:12:41,349 Suze: ago enticed so many of you into buying a truck 167 00:12:41,359 --> 00:12:45,630 Suze: or car that you really could not afford. I cannot 168 00:12:45,640 --> 00:12:50,349 Suze: even begin to believe how many people I have talked 169 00:12:50,359 --> 00:12:55,369 Suze: to lately that have purchased a truck or car that are, 170 00:12:55,380 --> 00:13:00,469 Suze: that co is costing them like $80,000 171 00:13:01,869 --> 00:13:07,539 Suze: at an average payment of 700 to $1000 a month 172 00:13:07,549 --> 00:13:14,020 Suze: that they've financed over 7 to 10 years. Like, are 173 00:13:14,030 --> 00:13:15,559 Suze: you kidding me? 174 00:13:16,400 --> 00:13:21,489 Suze: I also know that many of those loans now are 175 00:13:21,500 --> 00:13:27,729 Suze: 60 or more days past due. In fact, the past 176 00:13:27,739 --> 00:13:34,419 Suze: due payments on cars and trucks are the highest rate 177 00:13:34,429 --> 00:13:38,968 Suze: that they have been since 2006. 178 00:13:39,700 --> 00:13:44,799 Suze: And we all know what started to happen in 2006. 179 00:13:44,890 --> 00:13:49,070 Suze: Don't we? If you don't, you better look up history 180 00:13:49,080 --> 00:13:56,070 Suze: of what went on in 2006, 2007, 2008, 2009. 181 00:13:57,059 --> 00:14:03,700 Suze: It was horrific on every possible level. I also know 182 00:14:03,710 --> 00:14:04,710 Suze: for sure 183 00:14:05,409 --> 00:14:07,500 Suze: that the most important bill 184 00:14:08,330 --> 00:14:11,640 Suze: that every one of you who owns a home, a 185 00:14:11,650 --> 00:14:15,239 Suze: home that you live in a single family residence, that 186 00:14:15,250 --> 00:14:20,859 Suze: the most important bill that you pay every single month 187 00:14:20,869 --> 00:14:26,260 Suze: is your mortgage payment. And why is that? Because you 188 00:14:26,270 --> 00:14:29,380 Suze: don't want to lose your home? 189 00:14:30,630 --> 00:14:32,640 Suze: And what I also know for sure 190 00:14:33,309 --> 00:14:37,119 Suze: is that now mortgage payments, 191 00:14:37,929 --> 00:14:41,979 Suze: the delinquency of mortgage payments just like with car loans 192 00:14:41,989 --> 00:14:46,229 Suze: are starting to increase and increase and increase. 193 00:14:47,020 --> 00:14:51,049 Suze: I also know for sure that the delinquency rate of 194 00:14:51,059 --> 00:14:56,460 Suze: credit cards are increasing so fast. I can't even tell 195 00:14:56,469 --> 00:15:01,729 Suze: you especially those that are 90 days late 196 00:15:02,549 --> 00:15:03,440 Suze: or more. 197 00:15:04,179 --> 00:15:09,609 Suze: All right. Now, what's really important about that? Is that 198 00:15:09,919 --> 00:15:12,049 Suze: all creditors wait 199 00:15:12,770 --> 00:15:19,000 Suze: until you are 90 days late with a payment for 200 00:15:19,010 --> 00:15:24,000 Suze: them to crack down on you hard and once you 201 00:15:24,010 --> 00:15:28,710 Suze: are late for 90 days or more, that dings your 202 00:15:28,719 --> 00:15:32,309 Suze: credit score or your FICO score, which is really the 203 00:15:32,320 --> 00:15:33,690 Suze: only one that matters. 204 00:15:34,460 --> 00:15:38,309 Suze: It dings it more than anything. 205 00:15:39,080 --> 00:15:43,369 Suze: And when it dings it, you may think that oh, 206 00:15:43,380 --> 00:15:46,409 Suze: if I just simply pay it off in full and 207 00:15:46,419 --> 00:15:50,150 Suze: bring it current or whatever, that will help my FICO score, 208 00:15:50,159 --> 00:15:52,049 Suze: it will not 209 00:15:52,809 --> 00:15:57,280 Suze: if you are late on payments, you are far better off, 210 00:15:57,289 --> 00:16:01,320 Suze: write this down. You are far better off bringing your 211 00:16:01,330 --> 00:16:05,599 Suze: payments up to where they should be on late payments 212 00:16:05,609 --> 00:16:10,289 Suze: that are 20 days, late, 30 days, late, 60 days late. 213 00:16:10,659 --> 00:16:13,880 Suze: But don't even bother on those that are 90 days 214 00:16:13,890 --> 00:16:16,869 Suze: late or more because they're not gonna help your FICO 215 00:16:16,880 --> 00:16:22,599 Suze: score at all. Does that surprise all of you probably does. 216 00:16:23,080 --> 00:16:27,619 Suze: So, what do I do with the information that I 217 00:16:27,630 --> 00:16:29,049 Suze: know for sure. 218 00:16:30,150 --> 00:16:32,400 Suze: Well, first of all, I pass it on to you 219 00:16:33,000 --> 00:16:38,280 Suze: because I want you to keep everything in perspective. 220 00:16:39,000 --> 00:16:42,729 Suze: I don't want you to just get caught up in 221 00:16:42,760 --> 00:16:46,940 Suze: the ups and the downs of the market that everybody 222 00:16:46,950 --> 00:16:50,299 Suze: may be saying to you. It's ok. The economy is 223 00:16:50,309 --> 00:16:54,169 Suze: doing good. Maybe we're gonna have a soft landing, don't 224 00:16:54,179 --> 00:16:57,809 Suze: worry about it. Just keep spending, spending, spending, 225 00:16:58,659 --> 00:17:00,890 Suze: You know, I'll never forget the time that I was 226 00:17:00,900 --> 00:17:02,190 Suze: on a morning show 227 00:17:03,020 --> 00:17:08,349 Suze: and it was right around 2007, 2008. 228 00:17:08,948 --> 00:17:16,519 Suze: And I was telling everybody to stop spending money, stop it. Everybody, 229 00:17:16,529 --> 00:17:18,568 Suze: you need to save your money, you need to pay 230 00:17:18,578 --> 00:17:20,999 Suze: down your credit card a lot. Like what I'm telling 231 00:17:21,009 --> 00:17:21,918 Suze: you right now 232 00:17:22,640 --> 00:17:26,790 Suze: And then what happened was they went on to their 233 00:17:26,800 --> 00:17:29,650 Suze: next guest, but I was still on and I could 234 00:17:29,660 --> 00:17:30,369 Suze: hear them 235 00:17:31,030 --> 00:17:36,030 Suze: and I heard the next guest say absolutely wrong, Suze 236 00:17:36,040 --> 00:17:37,319 Suze: Orman is wrong. 237 00:17:38,119 --> 00:17:42,329 Suze: You all need to keep stimulating this economy. If you 238 00:17:42,339 --> 00:17:47,270 Suze: stop spending, you're gonna hurt the economy, everything will go down. 239 00:17:47,349 --> 00:17:52,569 Suze: So keep spending everybody. Otherwise we're gonna have a problem 240 00:17:52,729 --> 00:17:56,170 Suze: and I'll never forget asking the producer who was still 241 00:17:56,180 --> 00:18:00,729 Suze: talking to me about something else. And I said to him, 242 00:18:00,770 --> 00:18:02,790 Suze: can you let me go back on the air? 243 00:18:03,400 --> 00:18:06,739 Suze: I need to tell that person what I think and 244 00:18:06,750 --> 00:18:10,180 Suze: I'll never forget going back on and saying, what are 245 00:18:10,189 --> 00:18:11,810 Suze: you talking about? 246 00:18:12,829 --> 00:18:16,040 Suze: You care more about the economy and people getting in 247 00:18:16,050 --> 00:18:19,659 Suze: debt and keeping things going so everything can seem ok 248 00:18:19,670 --> 00:18:23,089 Suze: versus making sure that they are ok. 249 00:18:23,900 --> 00:18:26,609 Suze: You have to make sure that they're ok and it's 250 00:18:26,619 --> 00:18:31,229 Suze: my job to make sure that every one of you 251 00:18:31,619 --> 00:18:33,430 Suze: is ok. 252 00:18:34,160 --> 00:18:40,609 Suze: Which means I really want you to start conserving your money. Now. 253 00:18:40,619 --> 00:18:42,810 Suze: I've been telling you this for a while now, 254 00:18:43,670 --> 00:18:48,079 Suze: but I know for sure that something is not right 255 00:18:48,089 --> 00:18:51,959 Suze: in this economy. I just gave you a few things 256 00:18:51,979 --> 00:18:54,479 Suze: that I wanted you to know that I know and 257 00:18:54,489 --> 00:18:56,010 Suze: I'm gonna tell you a little bit more how that 258 00:18:56,020 --> 00:18:56,959 Suze: all plays out. 259 00:18:57,910 --> 00:19:00,560 Suze: But I want you to take this seriously. 260 00:19:01,469 --> 00:19:04,550 Suze: I want you to not think, oh, the summer months 261 00:19:04,560 --> 00:19:08,300 Suze: are coming and let's go on vacation and it's ok. 262 00:19:08,310 --> 00:19:11,479 Suze: Let's do this, let's do that. You can do all 263 00:19:11,489 --> 00:19:13,920 Suze: those things. I don't have a problem with that, but 264 00:19:13,930 --> 00:19:17,500 Suze: you better be out of credit card debt. You absolutely 265 00:19:17,510 --> 00:19:22,219 Suze: better be having an 8 to 12 month emergency fund. 266 00:19:22,790 --> 00:19:26,030 Suze: You better have your home equity line of credits paid 267 00:19:26,040 --> 00:19:29,040 Suze: off and you better know 268 00:19:29,650 --> 00:19:34,719 Suze: that your job is absolutely secure because the other thing 269 00:19:34,729 --> 00:19:39,109 Suze: I know for sure is that so many companies are 270 00:19:39,119 --> 00:19:44,869 Suze: laying off 4000 people here, 5000 people there. I really 271 00:19:44,880 --> 00:19:48,579 Suze: want you to know for sure 272 00:19:49,369 --> 00:19:53,300 Suze: that you have everything the way you need to have 273 00:19:53,310 --> 00:19:57,520 Suze: it for you to be secure no matter what happens. Now, 274 00:19:57,530 --> 00:20:00,339 Suze: I don't know what's gonna happen. I can tell you that, 275 00:20:01,300 --> 00:20:03,829 Suze: but I know for sure 276 00:20:04,589 --> 00:20:09,699 Suze: that things aren't quite right now. A lot of you 277 00:20:09,709 --> 00:20:13,890 Suze: write me and you're watching like this last week, the 278 00:20:13,900 --> 00:20:17,010 Suze: market go down 300 points one day and then you 279 00:20:17,020 --> 00:20:20,839 Suze: see it go up 500 again up on Friday. And 280 00:20:20,849 --> 00:20:24,208 Suze: you hear me give this webinar where I say, I 281 00:20:24,219 --> 00:20:26,839 Suze: absolutely think it's possible 282 00:20:27,130 --> 00:20:32,160 Suze: that these markets could go down another 15 or 20% 283 00:20:32,369 --> 00:20:34,500 Suze: but I don't know when that's gonna happen, 284 00:20:35,239 --> 00:20:38,599 Suze: but you will see them go up and down in 285 00:20:38,609 --> 00:20:43,770 Suze: the meantime. May I remind all of you that back 286 00:20:43,780 --> 00:20:48,169 Suze: in 2008? It was mid March. I don't think March 287 00:20:48,180 --> 00:20:51,880 Suze: is a good time for this economy anyway, it was 2008, 288 00:20:51,890 --> 00:20:57,060 Suze: mid March when Bear Stearns, one of the most prestigious 289 00:20:57,069 --> 00:21:00,189 Suze: brokerage firms went under 290 00:21:01,020 --> 00:21:04,099 Suze: and when it went under, it was taken over by 291 00:21:04,109 --> 00:21:05,550 Suze: JP Morgan 292 00:21:06,180 --> 00:21:08,948 Suze: and after JP Morgan, which is one of the largest 293 00:21:08,959 --> 00:21:14,119 Suze: banks out there took it over. Everybody felt like, oh, 294 00:21:14,130 --> 00:21:19,260 Suze: that's over. Everything's ok. We don't have to worry a 295 00:21:19,290 --> 00:21:26,050 Suze: little bit like everybody was feeling after SVB and everybody 296 00:21:26,060 --> 00:21:30,750 Suze: else went under until maybe last Friday when First Republic 297 00:21:30,760 --> 00:21:35,010 Suze: went under. But everybody was feeling great 298 00:21:35,420 --> 00:21:41,239 Suze: and right after that, the Standard and Poor's 500 index 299 00:21:41,280 --> 00:21:47,650 Suze: over the next two months, ran up 15%. 300 00:21:48,280 --> 00:21:54,718 Suze: Everybody was so happy. Well, Suze Orman was still on CNBC, 301 00:21:54,729 --> 00:21:58,209 Suze: saying what I'm telling you now, what I know for sure, 302 00:21:58,640 --> 00:22:03,250 Suze: which is something isn't right. Everybody, I need you to 303 00:22:03,260 --> 00:22:04,290 Suze: be careful. 304 00:22:05,020 --> 00:22:07,189 Suze: After those two months were up, 305 00:22:07,900 --> 00:22:13,040 Suze: the markets really essentially collapse, not just the stock market, 306 00:22:13,160 --> 00:22:16,629 Suze: but the real estate market as well. 307 00:22:17,579 --> 00:22:21,669 Suze: So the reason that I'm telling you all this is 308 00:22:21,680 --> 00:22:25,770 Suze: because what happens over a few days or a few 309 00:22:25,780 --> 00:22:32,270 Suze: months or whatever it may be is not an investment strategy. 310 00:22:33,060 --> 00:22:36,310 Suze: You get also excited when the markets go up or 311 00:22:36,319 --> 00:22:39,540 Suze: your stocks go up for two or three days and 312 00:22:39,550 --> 00:22:42,869 Suze: then you get also depressed when they go down two 313 00:22:42,880 --> 00:22:45,109 Suze: or three days after that. 314 00:22:45,900 --> 00:22:48,569 Suze: So as I told you on the webinar, which I'm 315 00:22:48,579 --> 00:22:53,438 Suze: still so blown away that essentially 100,000 people watched it 316 00:22:53,739 --> 00:22:57,290 Suze: and loved it and you're still requesting, we do it again. No, 317 00:22:57,300 --> 00:23:00,430 Suze: we're not going to play it again because it's too 318 00:23:00,439 --> 00:23:03,489 Suze: far away from when we did it and things could 319 00:23:03,500 --> 00:23:04,790 Suze: be changing here. 320 00:23:05,530 --> 00:23:09,359 Suze: So it is important, like I said, in that webinar, 321 00:23:09,869 --> 00:23:12,640 Suze: you know, I want all of you to have a 322 00:23:12,650 --> 00:23:16,079 Suze: plan and I want you to have a plan, an 323 00:23:16,089 --> 00:23:20,060 Suze: investment plan that you stick with and you do not 324 00:23:20,069 --> 00:23:24,099 Suze: alter that plan because one week the market is up, 325 00:23:24,109 --> 00:23:27,329 Suze: the other week the market is down, interest rates are up, 326 00:23:27,339 --> 00:23:30,420 Suze: interest rates are down this and no, 327 00:23:31,130 --> 00:23:33,219 Suze: you have a plan 328 00:23:33,829 --> 00:23:39,339 Suze: and your plan absolutely should be as follows. The very 329 00:23:39,349 --> 00:23:42,879 Suze: first thing that you should be doing is getting yourself 330 00:23:42,890 --> 00:23:45,739 Suze: out of credit card debt. 331 00:23:46,680 --> 00:23:51,150 Suze: Second thing, maybe it's the 1st and 2nd thing together. 332 00:23:51,160 --> 00:23:53,849 Suze: If you have a home equity line of credit, I 333 00:23:53,859 --> 00:23:57,889 Suze: want you to do whatever you can to please pay 334 00:23:57,900 --> 00:24:02,239 Suze: that off. If you are thinking about getting a home 335 00:24:02,250 --> 00:24:06,329 Suze: equity line of credit to do what to possibly do 336 00:24:06,339 --> 00:24:10,339 Suze: a remodel or whatever it may be, you are not 337 00:24:10,349 --> 00:24:15,329 Suze: to do that. Do you understand me? Not here and 338 00:24:15,339 --> 00:24:16,430 Suze: not now 339 00:24:17,030 --> 00:24:21,189 Suze: You also really need to have an 8 to 12 340 00:24:21,199 --> 00:24:25,280 Suze: month emergency fund. So if you don't have that, you 341 00:24:25,290 --> 00:24:28,810 Suze: need to make a plan. How do you start working 342 00:24:28,819 --> 00:24:29,699 Suze: on it? 343 00:24:30,500 --> 00:24:35,589 Suze: If you work somewhere where they match your contribution to 344 00:24:35,599 --> 00:24:40,188 Suze: a retirement plan that you have to do as well 345 00:24:40,199 --> 00:24:44,760 Suze: because you cannot pass up free money. Whether it is 346 00:24:44,770 --> 00:24:49,780 Suze: a pretax retirement plan, like a traditional 401k or a 347 00:24:49,790 --> 00:24:53,709 Suze: Roth 401k that you need to do. 348 00:24:54,229 --> 00:25:00,520 Suze: You also need to choose Roth retirement accounts over traditional 349 00:25:00,530 --> 00:25:05,079 Suze: retirement accounts no matter what tax bracket you happen to 350 00:25:05,089 --> 00:25:09,040 Suze: be in. If you make too much money to qualify 351 00:25:09,050 --> 00:25:13,319 Suze: for a contributory, Roth IRA, you can always do a 352 00:25:13,329 --> 00:25:18,130 Suze: backdoor Roth. If you are offered a Roth 401k or 353 00:25:18,140 --> 00:25:20,260 Suze: 403b or TSP at work, 354 00:25:20,510 --> 00:25:24,300 Suze: there are no income limitations for that. 355 00:25:25,040 --> 00:25:31,130 Suze: So that is your plan overall when it comes to investing, 356 00:25:31,780 --> 00:25:36,750 Suze: if you have more than 5 to 7 years, 10 years, preferably 357 00:25:36,760 --> 00:25:38,420 Suze: till you need this money. 358 00:25:39,339 --> 00:25:42,909 Suze: For those of you who are investing, you are going 359 00:25:42,920 --> 00:25:48,109 Suze: to be investing with a dollar cost averaging technique where 360 00:25:48,119 --> 00:25:54,030 Suze: every single month you invest in either an exchange traded fund, 361 00:25:54,040 --> 00:26:00,109 Suze: mutual funds or a variety of individual stocks as long 362 00:26:00,119 --> 00:26:04,760 Suze: as you don't have more than four or 5% in 363 00:26:04,869 --> 00:26:06,349 Suze: one stock. 364 00:26:07,209 --> 00:26:11,459 Suze: And for those of you who are in retirement 365 00:26:12,170 --> 00:26:16,119 Suze: and you are using the money in your retirement accounts 366 00:26:16,300 --> 00:26:17,619 Suze: to live on. 367 00:26:18,310 --> 00:26:22,969 Suze: It is very important that you have at least 3 368 00:26:22,979 --> 00:26:27,770 Suze: to 5 years in cash. Now, when I say in cash, 369 00:26:27,780 --> 00:26:32,369 Suze: obviously in some money market fund or whatever earning interest, 370 00:26:32,989 --> 00:26:36,389 Suze: but if you need to withdraw money every month or 371 00:26:36,400 --> 00:26:40,079 Suze: every six months to live on, you do not want 372 00:26:40,089 --> 00:26:44,959 Suze: if these markets go down to have to sell stock 373 00:26:45,579 --> 00:26:48,339 Suze: in order to withdraw money when the price of that 374 00:26:48,349 --> 00:26:52,079 Suze: stock may be down. So you want 3 to 5 375 00:26:52,089 --> 00:26:56,780 Suze: years liquid for yourselves. Why 3 to 5 years? 376 00:26:57,219 --> 00:27:01,869 Suze: Because when a market goes from the top to the bottom, 377 00:27:01,880 --> 00:27:06,349 Suze: back to the top again, it usually takes 3 to 378 00:27:06,359 --> 00:27:08,030 Suze: 5 years 379 00:27:09,540 --> 00:27:12,270 Suze: And you are not to get afraid. 380 00:27:13,079 --> 00:27:17,449 Suze: You're just not to get afraid. Little by little, 381 00:27:18,520 --> 00:27:22,489 Suze: you need to get involved with your money. 382 00:27:23,089 --> 00:27:25,139 Suze: You know, I used to say when I wrote the 383 00:27:25,150 --> 00:27:28,859 Suze: Nine Steps To Financial Freedom, which was the second book 384 00:27:28,869 --> 00:27:31,639 Suze: I ever wrote, but the most mega best seller I 385 00:27:31,650 --> 00:27:35,579 Suze: ever wrote, which is if you just take one step 386 00:27:35,589 --> 00:27:41,160 Suze: towards your money, your money will take nine steps towards 387 00:27:41,380 --> 00:27:41,859 Suze: you 388 00:27:43,140 --> 00:27:50,718 Suze: And you just start little by little, however, one other 389 00:27:50,729 --> 00:27:54,140 Suze: thing I know for sure is it is better to 390 00:27:54,150 --> 00:27:58,819 Suze: do nothing than something you do not understand. So you 391 00:27:58,829 --> 00:28:02,189 Suze: need to educate yourself before you do anything. 392 00:28:02,699 --> 00:28:06,688 Suze: I also know for sure that you better trust yourself 393 00:28:06,699 --> 00:28:10,709 Suze: more than you trust others because nobody will care about 394 00:28:10,719 --> 00:28:15,369 Suze: your money more than you do. Now with that said, 395 00:28:15,650 --> 00:28:19,930 Suze: I have been reading the messages on the Women and 396 00:28:19,939 --> 00:28:23,550 Suze: Money app where there is a community and many of 397 00:28:23,560 --> 00:28:27,030 Suze: you can just simply go to Apple Apps or Google 398 00:28:27,040 --> 00:28:30,469 Suze: Play and download the women and Money app and become 399 00:28:30,479 --> 00:28:32,050 Suze: part of that community. 400 00:28:32,469 --> 00:28:36,719 Suze: And somebody just a few days ago mentioned that they 401 00:28:36,729 --> 00:28:40,380 Suze: know Suze doesn't like financial advisors that charge a lot 402 00:28:40,390 --> 00:28:42,540 Suze: of money and blah, blah, blah, blah. How do we 403 00:28:42,550 --> 00:28:43,479 Suze: find one? 404 00:28:44,199 --> 00:28:46,770 Suze: I want to tell you about financial advisors. 405 00:28:47,400 --> 00:28:52,170 Suze: There are many incredible financial advisors out there. Really. 406 00:28:53,160 --> 00:28:56,939 Suze: And if you ever find one, they are worth their 407 00:28:56,949 --> 00:29:01,579 Suze: weight in gold and you should share that with everybody. 408 00:29:01,589 --> 00:29:04,969 Suze: You know, but you have to know without a shadow 409 00:29:04,979 --> 00:29:08,920 Suze: of a doubt that that person has your best interest 410 00:29:08,930 --> 00:29:14,329 Suze: at heart versus their own. So please don't think that 411 00:29:14,339 --> 00:29:19,630 Suze: I simply hate all financial advisor. I do not, 412 00:29:20,439 --> 00:29:21,410 Suze: I don't, 413 00:29:22,300 --> 00:29:26,180 Suze: But you have to know, do you have one that's 414 00:29:26,189 --> 00:29:27,349 Suze: working for you 415 00:29:28,000 --> 00:29:32,969 Suze: or do you have one that's working for their own 416 00:29:32,979 --> 00:29:34,449 Suze: best interests? 417 00:29:35,339 --> 00:29:39,390 Suze: Now, one other thing I know for sure is that 418 00:29:39,400 --> 00:29:43,910 Suze: I've been telling you now for about three years that 419 00:29:43,920 --> 00:29:49,630 Suze: I really like energy stocks, one and two in particular 420 00:29:49,640 --> 00:29:52,949 Suze: that I like actually three that I like in particular. Well, 421 00:29:52,959 --> 00:29:57,650 Suze: maybe four now as well as the XLE which is 422 00:29:57,660 --> 00:30:01,329 Suze: the ETF for energy stocks 423 00:30:01,900 --> 00:30:07,199 Suze: and a lot of you get upset because energy goes up, stocks, 424 00:30:07,209 --> 00:30:10,349 Suze: go up, stocks, go down. So I just want to 425 00:30:10,359 --> 00:30:13,900 Suze: give you a little Suze School and what I want 426 00:30:13,910 --> 00:30:18,859 Suze: you to know for sure when it comes to energy 427 00:30:18,869 --> 00:30:25,349 Suze: stocks and oil in particular and why I still like them. 428 00:30:25,979 --> 00:30:29,989 Suze: But I also want you to know your entire portfolio 429 00:30:30,000 --> 00:30:33,910 Suze: is not to be made up of energy stocks. 430 00:30:34,819 --> 00:30:39,900 Suze: You need to have a diversification across the board. And 431 00:30:39,910 --> 00:30:42,750 Suze: if you don't know how to buy individual stocks, I 432 00:30:42,760 --> 00:30:47,349 Suze: will still tell you there is absolutely nothing wrong with 433 00:30:47,359 --> 00:30:52,329 Suze: buying the vanguard total stock market index. ETF or fund 434 00:30:52,930 --> 00:30:55,339 Suze: for great diversification. 435 00:30:55,949 --> 00:31:02,180 Suze: I still like ETFs such as the Schwab Dividend Fund 436 00:31:02,209 --> 00:31:05,130 Suze: as well as the Noble Fund, which is also a 437 00:31:05,140 --> 00:31:08,869 Suze: dividend fund because I still think if we go to 438 00:31:08,880 --> 00:31:12,479 Suze: a down market here, it's nice to be getting paid 439 00:31:12,489 --> 00:31:16,560 Suze: while you wait and our dollar cost averaging into it 440 00:31:16,689 --> 00:31:19,359 Suze: as prices go down. 441 00:31:20,189 --> 00:31:23,479 Suze: So here's what I want you to know for sure. 442 00:31:23,550 --> 00:31:25,880 Suze: When it comes to oil, 443 00:31:27,329 --> 00:31:32,839 Suze: oil is usually referred to as W T I. 444 00:31:33,650 --> 00:31:36,780 Suze: Somebody wrote on the Women and Money app. I've been 445 00:31:36,790 --> 00:31:39,959 Suze: looking up the symbol W T I in the stock 446 00:31:39,969 --> 00:31:44,599 Suze: market and I don't understand, I can't find it. W 447 00:31:44,609 --> 00:31:45,699 Suze: T I 448 00:31:46,439 --> 00:31:51,339 Suze: is not the symbol of a stock, it stands for 449 00:31:51,349 --> 00:31:55,510 Suze: West Texas Intermediate Crude. 450 00:31:56,219 --> 00:32:02,109 Suze: And that is how the price of oil is referred to. 451 00:32:02,329 --> 00:32:06,010 Suze: And it's referred to that because one of the highest 452 00:32:06,020 --> 00:32:07,949 Suze: quality of oils 453 00:32:08,780 --> 00:32:14,250 Suze: in the United States is found in inland Texas. 454 00:32:14,599 --> 00:32:18,430 Suze: And when oil is of a really great quality, it 455 00:32:18,439 --> 00:32:23,410 Suze: makes it easier to refine. So years ago, they just 456 00:32:23,420 --> 00:32:30,050 Suze: started to quote whatever West Texas Crude Intermediate was going for, 457 00:32:30,069 --> 00:32:34,089 Suze: that would be what we would follow and quote as 458 00:32:34,099 --> 00:32:39,869 Suze: the price of oil and that's what many people follow today. 459 00:32:40,020 --> 00:32:43,430 Suze: So when you hear me say W T I, 460 00:32:43,719 --> 00:32:50,250 Suze: I'm talking about West Texas Intermediate Crude and it's selling 461 00:32:50,260 --> 00:32:53,739 Suze: for X dollars per barrel now. Right now it's at 462 00:32:53,750 --> 00:32:56,369 Suze: about $78 a barrel. 463 00:32:57,199 --> 00:33:02,040 Suze: We also know for sure that when W T I 464 00:33:02,050 --> 00:33:03,160 Suze: goes up, 465 00:33:04,219 --> 00:33:09,859 Suze: the price of most energy companies also go up and 466 00:33:09,869 --> 00:33:14,349 Suze: when the price of W T I goes down. So 467 00:33:14,359 --> 00:33:19,579 Suze: does the price of most energy companies, the reason being 468 00:33:19,589 --> 00:33:24,270 Suze: very simple, when the price of crude goes up, 469 00:33:24,930 --> 00:33:28,949 Suze: energy companies are going to make more money. When it 470 00:33:28,959 --> 00:33:34,030 Suze: goes down, they're going to make less. What makes the 471 00:33:34,040 --> 00:33:39,780 Suze: price of W T I go up and down? Very simple. 472 00:33:39,790 --> 00:33:43,180 Suze: It's supply and demand. 473 00:33:43,800 --> 00:33:47,770 Suze: When there is more supply than demand, the price will 474 00:33:47,780 --> 00:33:51,849 Suze: go down when there is more demand than supply, the 475 00:33:51,859 --> 00:33:54,849 Suze: price will go up. Now 476 00:33:55,739 --> 00:34:00,060 Suze: it is true that if we hit a recession, are 477 00:34:00,069 --> 00:34:03,189 Suze: you writing this all down? This is actually an incredible 478 00:34:03,199 --> 00:34:07,410 Suze: Suze School and I get very well that I'm going long, 479 00:34:07,420 --> 00:34:10,229 Suze: but these are things you need to know right now. 480 00:34:11,320 --> 00:34:15,889 Suze: If we hit a recession, it is probable that the 481 00:34:15,899 --> 00:34:21,300 Suze: demand for energy will go down for people will not 482 00:34:21,310 --> 00:34:24,889 Suze: have the money to travel, et cetera, et cetera. Ok. 483 00:34:25,678 --> 00:34:27,569 Suze: But it is also true 484 00:34:28,340 --> 00:34:34,810 Suze: that currently production is way down. It is also true 485 00:34:34,820 --> 00:34:40,110 Suze: that OPEC this coming Monday is cutting production by a 486 00:34:40,120 --> 00:34:44,270 Suze: million barrels a day. Ok. 487 00:34:44,979 --> 00:34:50,169 Suze: It is also true that China could absolutely come back 488 00:34:50,179 --> 00:34:55,310 Suze: sooner than later and have great demand for oil again. 489 00:34:56,000 --> 00:34:59,629 Suze: And as I think I told you before, the government 490 00:34:59,639 --> 00:35:03,419 Suze: is likely to have to restore the supply of the 491 00:35:03,429 --> 00:35:05,529 Suze: strategic petroleum reserve 492 00:35:06,320 --> 00:35:08,669 Suze: and they are going to have to be buying it. 493 00:35:09,500 --> 00:35:15,069 Suze: Now, if you look at supply right now, it is 494 00:35:15,080 --> 00:35:16,629 Suze: way down 495 00:35:17,540 --> 00:35:21,370 Suze: and most likely we will not be able to meet 496 00:35:21,379 --> 00:35:26,709 Suze: the demand come this summer when people start traveling with 497 00:35:26,719 --> 00:35:29,250 Suze: airplanes and things like that. 498 00:35:30,159 --> 00:35:34,529 Suze: So I think it is absolutely probable 499 00:35:35,409 --> 00:35:39,969 Suze: that the price of oil will absolutely go up 500 00:35:40,739 --> 00:35:46,589 Suze: because our supply is currently so low. But here's what 501 00:35:46,600 --> 00:35:48,189 Suze: I also know for sure 502 00:35:49,340 --> 00:35:54,259 Suze: that even at the price levels, that W T I 503 00:35:54,270 --> 00:35:57,319 Suze: is right here and right now 504 00:35:58,010 --> 00:36:02,179 Suze: these energy companies are making a fortune, 505 00:36:03,129 --> 00:36:07,779 Suze: I'm just gonna skip very quickly to why has PXD, 506 00:36:09,389 --> 00:36:14,679 Suze: Pioneer Natural Resources, one of my favorite companies that's paying 507 00:36:14,689 --> 00:36:18,120 Suze: about a 12% dividend, which is why I had most 508 00:36:18,129 --> 00:36:22,280 Suze: of you buy it. Why did the other day did 509 00:36:22,290 --> 00:36:25,969 Suze: it go down so dramatically even though it's coming right 510 00:36:25,979 --> 00:36:29,279 Suze: back up? And it's simply in my opinion 511 00:36:29,739 --> 00:36:35,149 Suze: because the rumor that Exxon was gonna buy them got squashed, 512 00:36:35,580 --> 00:36:40,330 Suze: although I'm not so sure that won't happen, even though 513 00:36:40,340 --> 00:36:42,830 Suze: I said a little bit ago, I didn't think it 514 00:36:42,840 --> 00:36:48,030 Suze: was gonna happen, but something recently happened that made me think, oh, 515 00:36:48,040 --> 00:36:51,370 Suze: maybe it is gonna happen. But the reason that it 516 00:36:51,379 --> 00:36:56,379 Suze: went down so much is that their CEO, Scott Sheffield, 517 00:36:57,350 --> 00:37:01,030 Suze: who is one of the most brilliant CEOs in this 518 00:37:01,040 --> 00:37:05,580 Suze: area ever. He once again announced that he was going 519 00:37:05,590 --> 00:37:11,659 Suze: to retire January of 2024. Now, he did retire once 520 00:37:11,669 --> 00:37:14,040 Suze: in 2016 and came back. 521 00:37:14,820 --> 00:37:19,320 Suze: But I think this may be when he really does retire. 522 00:37:19,699 --> 00:37:21,830 Suze: And there is a man by the name of Richard 523 00:37:21,840 --> 00:37:26,639 Suze: Dealy been the COO forever, Chief Operating Officer, who's gonna 524 00:37:26,649 --> 00:37:31,810 Suze: be the CEO and he is quite brilliant as well. 525 00:37:32,389 --> 00:37:37,909 Suze: I don't know. Is it possible that Scott is retiring 526 00:37:37,919 --> 00:37:41,090 Suze: to make it easier for a takeover by Exxon? 527 00:37:41,969 --> 00:37:45,949 Suze: I don't know. Maybe, yes, maybe no. But only time 528 00:37:45,959 --> 00:37:49,939 Suze: will tell. But here's what I still know is that 529 00:37:49,949 --> 00:37:53,550 Suze: it's a great company, it will continue to go up 530 00:37:53,560 --> 00:37:57,820 Suze: and down, which is why the main reason I wanted 531 00:37:57,830 --> 00:38:02,839 Suze: you to buy it was why because of the dividend. 532 00:38:03,870 --> 00:38:08,540 Suze: Ok. Those are the things that I know for sure. 533 00:38:09,050 --> 00:38:12,010 Suze: And those are the things that I know for sure 534 00:38:12,020 --> 00:38:15,629 Suze: that I want you to know. I want you to 535 00:38:15,639 --> 00:38:19,319 Suze: be diversified. I want you to stick to a plan. 536 00:38:19,860 --> 00:38:23,270 Suze: I want you to be very realistic that things in 537 00:38:23,280 --> 00:38:28,770 Suze: the United States every single week seem to be signaling 538 00:38:28,860 --> 00:38:33,509 Suze: that something is radically wrong. Next week, we will absolutely 539 00:38:33,520 --> 00:38:37,600 Suze: see if Powell raises the Fed funds rate again, which 540 00:38:37,610 --> 00:38:41,928 Suze: of course, he's going to, but we'll see what is 541 00:38:41,939 --> 00:38:44,250 Suze: it that he says he's going to do in the 542 00:38:44,260 --> 00:38:46,830 Suze: future and that will have a big effect on the 543 00:38:46,840 --> 00:38:48,050 Suze: market as well. 544 00:38:48,709 --> 00:38:49,319 Suze: So 545 00:38:50,149 --> 00:38:55,320 Suze: the other thing that I know for sure, without a 546 00:38:55,330 --> 00:38:56,879 Suze: shadow of a doubt 547 00:38:57,479 --> 00:39:03,290 Suze: is that if you simply say every single day that 548 00:39:03,300 --> 00:39:09,689 Suze: today wherever I go, I will create a more peaceful, 549 00:39:10,330 --> 00:39:12,419 Suze: joyful and loving world. 550 00:39:13,139 --> 00:39:18,969 Suze: I know for sure that you will be unstoppable. See 551 00:39:18,979 --> 00:39:25,429 Suze: you Thursday, everybody for another Ask Suze and KT Anything. 552 00:39:26,229 --> 00:39:26,250 MUSIC: Music Out.