Suze Orman, Financial Guru
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
View Blog & News List

Suze Orman: Don’t put your retirement on a credit card

August 07, 2013 at 10:27 PM

As the economy slowly recovers, Americans are struggling to get out of credit card debt they amassed during tougher financial days.

The good news: the majority of people are paying their credit card bills on time. Recent data from the American Bankers Association shows that less than 2.5 percent of credit card accounts were 30 days late in the first quarter of 2013.

The bad news: they're amassing more debt. Outstanding credit card balances in the U.S. rose to $856 billion according to a study by the Federal Reserve Board.

Out of desperation to stay current, or to rid themselves of their debt, people are looking at their retirement accounts as a cash source. But Suze Orman says that's the biggest mistake you could make.


Read Full Article

Suze Orman: Don’t put your retirement on a credit card

Tag Cloud

increase retirement contribution rateis it necessaryStock Investmentsbe kind to yourselfsocial security never insolventstudent loan repaymentFinancial CliffSuze Orman Scholarshipadvice for college graduatesMarlo ThomasBaby Boomersbalance transfer bad retirement planningworst financial mistakeunder 18 financial giftbetter loan ratescredit card2015 record year car salesJose RodriguezFinancial Advicestretch out haircut appointmentsreal estate marketLifestylebe true to yourselfraise insurance deductiblestudent loan debtsave low credit scoreLong Term Care shoppingGay Couplesdon't cover cosmetic dentistry401(k) ContributionsmortgageSuze approvedhigh deductible health care planretirement accountsconsider roth 401(k)pay off debtdebit cardoverspend on nights outTelepicturescostly insurance mistakepush yourself to save more for retirementteens and moneyPrime Rate IncreaseRichspecial saving accountSandy Hook Elementary SchoolFinancialtaxesfull retirement ageSave Us Moneylong-term care ultimate compounding giftBeautyjanuary billscalculate dependents annual income needsopen enrollment review Post-Divorcepay more than minimumrequire chore in exchange for allowanceCommencementincrease retirement savingsPhyllis Shelton expert long-term careIRA contribution gifted moneywaive home inspection bidCredit scoreyours, mine & oursstay positivecommunity collegecost of capitalization calculatorMass MutualOne Wallet At A Timebuy hometelevision hostAshley Springercar leasingsuccessSandy Hook Promisebuying car 2016LTC shoppingpaid vacationonly offered while employed credit reportmaintain standard of livingprotect dependent 6 month waiting periodFinancial Awareness Video FestivalCommunication Skills Suze is my biggest mentorritual schedulefocus on new truth percentage men widowed 75-84employer funding HSARetirement Incomehome loan credit score below 740 50 over 50comparison shoppingface your financial fearsavingsback door Roth IRALong Term Care premiumspercentage of women widowed 75-84Suze Orman3 step financial road mapcreate new truthincrease emergency savingsprotect your familygift up to 14,000Revocable Living Trustwomen live longerMortgage Credit Availability Indexfinancial independenceFree Debt Eliminator401KForbes Top 10Forbesdo you need life insuranceTeachdream schoolbad decisionsteach your child good money habitsPay Off Debt Before RetirementCredit Card Rate Increasebig results borrow each year, capitalization is going to pile up FRA2015 financial roadmapignore 6 month grace period emotional stakesDurable Power of Attorney for Health Caresidelinedlong-term care premiumsdebtGiftWashingtonMoney40% toward financial goalpositiveno waiting periodAARP Social security calculatorpublic service loan forgiveness programAmy Lacyetmake saving a pleasure20% down paymentbuying a carnot enough life insuranceAuto Savings overspend on dining outInfluentialstraditional vs roth 401(k)juggle multiple financial goalsuniversal college access10% donate to charityLong Term Care Insurance Prime Rate Rise 2015no splurge tax ID theftmanage student loanslive below your meansletter to suzekeep a scheduleNew american Dream HDHP marriage financial responsibilityincentives for health care wellness screeningdon't blow tax refundcredit unionpermanent life insuranceteach importance of helping othersoverspend on giftsinsuranceCredit Card Interest Rateswitch to spouse coveragewrite new goalfour steps to retirement savings learn good financial choicesUS Tax Codestudent loan repayment planHDHP'sMotherLTCi ASAPplangraduationlower ratecnbc alarm clockmonthly dental insurance premiumtake actionone credit cardStudent Debthousing marketinitial tax break alternative FICO scoreget over life insurance phobiadepreciating asset derailed planGiftssame sex marriage band end Floridaget credit carddeath benefit needs for familyEric Dodge three year car loanFinancial Educatorzero rate transfer dealsdoctor no longer in networkinterest on student loanspay down car loanrising home pricespublic service career student loan repayment verify retirement plan with HR or plan sponsordental discount planemergency fund savingsfinancial fearsspeak new goalautomate student loan paymentsraise deductiblesbreakdown projected monthly housing costget health insurance4 Must Have Documents Wall Streetlow down paymentapproved medical 100% tax-freelong term carecollege graduateretain separate credit cardspay credit debt ASAPdeath benefit 20 to 25 times annual incomeheartacheCNBCdon't use allowance as bribeHow To Build CreditStaffords this year have a fixed 6.8% interest rateovercome financial fearsreplace permanent life insurance with termhigher insurance deductibleemployer offered life insuranceFinancial Awarenesscharges on credit cardleave a legacyinsurance yearly review2016 adjust estimated taxAlarm Clockemergency fund AARPhigh premiumsretirementwomen long term caredon't charge a pennyInterestno sneaking in feesno fee transferdental insurance pay down student loan debtavoid burn outpay 100% cashCivil Rightsknow before you oweunexpected expenseMoney Marketstore credit cardsFinancial Gift Cliffdental savings planlower premiumRetirement Savingsmobile appPBS Specialsave moneyloved ones dependent on incomeno life insurance financially irresponsibleHDHP's are good for youFinancial Solutions For You19 years cash flow problemverify wellness screening and programslet them have 50% controlfinancial goal phrasecut monthly cellular billHolidaymental healthUrbana-ChampaignAccuQuote.comExhibitionpurely financial standpointHDHP's are not baddon't ignore open enrollmentone annual feeFinancial Power of AttorneySuze Orman spouse Kathy TravisMost Influential Celebrities Listmax employer matched 401(k) contributionbest loan deal GoodbyeSpendingwives should be involved in retirementUniversity of Illinoispreexisting condition not coveredteensdon't spend switch to roth 401(k)Bankwomen longer life spancar loanFundschildren under 18physical healthroth iraHSA tax savingsdoctors in networkdon't buy wantsiffy incomeno negativitypay interest while in schoolis it true? max benefit coveredunsubsidized Stafford loanprotect loved ones term life insurancefinancial concernmoney vowsretirement planpay high rate off firstidentity fraudGay Rightsresponsible with moneydangerous retirement planMoney-Saving!00% tuition paidhome buying budgetholiday spendingget the most out of social security car buying mistakesconfident of solutionYoung Adult University of Floridaage appropriate choreis it necessary?New York Lifefinancial argumentsFICO credit score credit card mortgageBankruptcy8 month safety netEmployer Matched Contributionfraudulent returnAmericans don't use all paid vacation timesmall changes don't defer interest paymentsgift grandchild IRA contributionInfluential Celebrityfocus on needsEasy Life Insurance Suze Orman's Money Warshome budget after tax costFiscal Responsibilityloan necessityloan is giftenjoy saving required disclosuremortgage disclosureautomatic withdraw to savings Satisfyinginterest capitalizationreal estate mistakesChanging Livesdear suzeprotect and provide for minor child LTCbecome member gay marriage ban end Florida student loan repayment estimatordon't do five year car loanis it kind?not gender specific Financial Systemconfident10 year repayment plan Invest for savings growthprovider of financial supportrent vs buyat worst still pay 75% benefitLoveschool lower mortgage interestgrandchild summer job IRA contributionloan big picture family save at least $100 monthlylousy investmentForeclosure2016 adjust withholdingterm insuranceCollege of Veterinary Medicinevalue moneymonthly benefit FICO Scoresummer job match income insurance mistakefile asapshop online guaranteed level term policySelectQuote.comno tax on withdrawlsGraceWarner Bros Television GroupPersonal Financestudentgrandparent IRA contribution women outlive menbill paying prioritiesStudent LoanSuze changed my lifeCory BookerFinal GoodbyeStudent Debt Crisisnew carpresident Obama8 month emergency fundfinancing car School of Social Workdo not pay allowance for good behaviorpowerfulwould you decline a bonusThe Suze Orman Showhome ownershipmarriage inequalitygift not loanEmergency Savingssocial security not going brokeNewtownsame-sex marriagepaying for collegecommitHeartcut monthly cable billlife insuranceHoliday SeasonVeterinary Schoolhigh FICO scoreAdequate Auto and Home InsuranceHoliday Shoppingbest interest ratesFederal Funds Ratedangerous money seasoncouple financesfederal student loan deferment 8 Rulesvalentines dayhome buying mistakesOverspendingretirment savingscan you afford itsocial workalways use all paid time offloan no longer than 36months

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2016 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel