December 26, 2020
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On this podcast, Suze talks to us about ending the year during very uncertain financial times.
December 26th 2020 Susie O here and welcome to the Women and Money podcast as well as the men smart enough to listen. Yes, I know I'm recording this one day early, but it's important that you know that because as I record this, there's something that has not happened yet that really affects the advice that I was going to give you today because remember, today was the day that I was supposed to tell you what my projections are for the year 2021. But because this thing has not happened yet, it's almost impossible for me to tell you what I think is gonna happen next year when, truthfully, we don't even know what's gonna happen tomorrow. Now, before I go into all of this as I was walking in here, KT said to me, Suze Orman, you be hopeful. You be upbeat. This is Christmas time. It's New Year. It's Kwanza was Hanukkah, Suze offer everybody hope. Don't go being a Suze downer here and I just looked at her. Then I was like, All right, KT. And as I was walking in here, I was so sad again. I was sad because there's so many people out there that are doing so great right now, and I've said this before. It's not even funny. They're making more money than they've ever made. You have corporations out there that are making more money than they have ever made. And then, on the other hand, you have tens of millions of people who lost their job who are standing in food lines whose businesses have closed. They don't know what to do. And their only hope, their only hope for right here and right now was that the $900 billion bill that was put on the president's desk a few days ago was going to be signed. So why? So that maybe they were going to be evicted from their homes. Just maybe they were going to get because they had two kids, $2400 as a stimulus check $600 apiece, that their unemployment check was going to increase by $300 a week. That's something at least was going to help them, that the eviction notices that really are now going to be going into effect if this bill isn't signed, really in the next day or two, their hope was that was going to be postponed. But now that's not happening. Not as I'm recording this podcast. You want to know what else isn't happening, which I just cannot believe that part of this whole bill and everything is also extending the budget for a while so that we can keep the federal government open. And that hasn't been signed either. And if that's not signed today, I have a feeling that on Monday, everybody, the federal government is going to shut down. Now, do you remember how that happened a while ago? I did an entire special podcast on that is how you access money when your money is in a retirement account and you're working for the federal government and you're not getting a paycheck and it's going on and on and on. Now but if the federal government shuts down, are you kidding me? That means that these vital services that you use paychecks for the military, all kinds of things aren't going to happen. So at the time that I'm supposed to be giving you projections for next year, we may go into a total financial chaotic nightmare for no reason at all. We got to be prepared for that. So you know what's interesting is that I always say You gotta hope for the best, but be prepared for the worst. But I really don't understand. Why would anybody want to put American people good, good people and financially harm's way? I don't get it but then I also don't get why in the world would anybody during a holiday season, why would anybody get on a plane and go visit their family? Why? The other heartbreak that I find out there and I just want to say to all of you first responders, especially the nurses, the doctors, the emergency workers, we sent all of our prayers are blessings and our gratitude. You didn't sign up to risk your life to take care of people, but that's exactly what you are doing. You know, Colo, and I talk about Colo a lot on this and Colo is like our son. And again I post pictures of him all the time. And yesterday I said, Hey, Colo, have you talked to your girlfriend? And Colo has a girlfriend by the name of Ani, and Ani lives in Colombia, which is where Colo is from. And she's a nurse and he said Yes, Susie, I've talked to her. I talked to her as you know, all the time and I said, Well, how she's doing And he said, She's very sad and I said, Why is that? And he said, Not only are they out of beds and certain things like that, he said, they're also out of medicine, that there's a specific medicine that keeps people's asleep when they're on ventilators and they're almost totally out off that medicine. And I'm thinking, How can that be? That can't be. And he said, Oh, it is. And she's so concerned for these people, not for herself. She's already had covid not for anybody else but her patience. And I felt so bad for on Ani and everybody else that's going through this and it just like can we give the medical workers a break everybody can we just give them a break? Because if we get sick, it's not just we get sick. We also put them in danger as well. Now, why am I even talking about that? See, I get sidetracked and I don't even know why. But all of those things, seriously, are playing into the economy and where we are going to go and what's going to happen next year. As I was walking in to also, do the podcast today I walked past a picture that's in the hallway of our home. It's a picture of me on CNBC at my desk where obviously I was on TV and somebody snapped the picture of me obviously talking to somebody on air, and it's a great picture, and I love that picture. And as I look at that picture, it reminds me of the 40 years now that I've been doing this in all kinds of markets, in a depression, in a recession, in all kinds of things that have happened, real estate booms and serious busts. And I was thinking about what is the one thing Suze that you have learned over the past 40 years when it comes to people and money. And the one thing that I've learned is this everybody I know that many of you are going through incredibly difficult hard times right now. I get that. But somehow you're still here. Financially speaking, you're still here. You are here six months ago. You were here a year ago and you're still here. And I know a lot of you are thinking, but I don't know where I'm going to go tomorrow. I don't know how I'm gonna make this work out. My home they're gonna lock me out of my home. I don't know what's gonna happen. Here's what I do know. Somehow something always happens and you make it to the next day and you make it to the day after that and you make it to the day after that one and before you know it, you're where you're supposed to be and everything starts to change and you build up again and you go on. All the people that I saw in 2008 lose their home, lose all their money, lose this, lose that. Ah, Few years later, they were doing good again. Maybe they were some of them were doing better than they had been doing. And I know I know what times like this. It is really difficult for you to believe that everything's gonna be okay, especially when we don't have a bill signed. All these things could happen. But what's your choice? Can you just tell me what else can you do? Just give up. Walk out? No, you don't have another choice. But I can promise you if you just keep taking day by day at a time, even if that means you're evicted. Even if that means you live in your car for a few days, I don't know what it is or a few months. I don't know. But I do know that you will get through this if you just take it day by day. Boy, do I wish I was running this government? Do I wish that I had a golden wand that I could just wave and it would be all of you would be OK medically health wise as well as financially. And we were all going to just survive this and some were going to thrive in this. Oh, you bet I do. And for somebody like me. It really breaks my heart because I know this didn't have to happen. I know it still doesn't have to be happening, but it's going to continue to happen until all of us seriously take responsibility for every single action, every single thing that we do. And we have got to do everything to make sure that we stay healthy, that others stay healthy, that we don't put our emotions and our oh, I have to just be with you in front of everything. That we really put ourselves first, the safety of ourselves and therefore the safety of others and therefore what else? The safety of our families and our money. Because here's what's really important when covid and cash the two CC’s collide. If you are really struggling day to day right now, are you just getting by right now and you happen to get sick and you end up in the hospital? Who's gonna take care of your kids? How are you going to do this? How’s everything gonna work? So this is a time that all of you, in every possible aspect of your life, you need to take a protective, intelligent stance a stance that allows you to know you're gonna take day by day, every day, one day at a time. And you will get through this. You are going to deal with every penny that you have one day at a time, and you will get through this and you're just going to keep taking one step after another. I can tell you stories that would break your heart, but I'm sure I don't need to, because I'm sure many of you have stories that are breaking your own hearts. But this is a time that you just have to keep taking. Like I say day by day. I will give you my 2021 projections as soon as I know if a bill is signed, if we're going to go into a federal shutdown, how long we're going to do that? And then I'll be able to tell you what's gonna happen financially next year. But I have to tell you that everything right now really is concerning me. And we really just need to slow down, take it easy. And, as I've said a million times to have faith that everything really does happen for the best. So again, another short podcast, not the one that I was expecting to give today on any level, but one that's an important podcast is they probably all are in that I'm going to make a request of all of you. And here it goes, Since nobody's helping us, and I've made this request before, but I'm really going to make it right now. And since it's getting rough out there, financially speaking, if many people lose unemployment, whatever it may be, I'm going to ask those of you those of you who have extra money and you have a paycheck coming in. I'm also going to ask you that if the stimulus happens to pass and people get a $600 stimulus check and whatever it may be and you happen to get one, but you don't need it, even though you qualify for it, you're doing just fine. So whether it happens or it doesn't happen, I'm going to ask all of you who are doing fine to reach into your pockets. And I know all of you have at least one friend or two friends who are not doing well, and I'm asking you to offer them financial help. If you don't have anybody in that situation, I'm asking you to dig deep and give money to the food banks because they really need it as well. And this is an ask as I said, that I've done before, but I'm really doing it again right now because it's the best thing that we could do at the end of this year. If we all give from an opened heart with open hands, I promise you, we alone can help change the circumstances of those people in the United States of America right now that cannot help themselves. You know, in my book the Nine Steps to Financial Freedom, I believe it's the seventh step, and the step is this. Open your hands to receive that which is meant to come your way. Years ago, I learned that the best way for you to get through times that are so difficult is to open your hands, keep them open. So God and this is a time of God right now, from Hanukkah to Kwanza to to Christmas to whatever. This is a time when hands need to be open to receive that which God is meant to send our way. But so many times our hands are closed so tightly holding onto the little that we think we have, that our hands aren't open to receive what we're all meant to receive. So for those of you who have something to hold on to, really, you have some extra money. Little $50, 100 dollars. Make good use of that. Normally you would hear me say, Put it in your eight month emergency fund. Make sure that you're okay. On this one week to end of maybe one of the worst years really, in our lifetimes. Take whatever you can and you can afford to. And it really won't affect you and help those who feel so hopeless right now that they really don't know what to do. Okay, New Year's Eve is coming. I hope all of us at the strike of midnight that we take one second to pray that we pray for the health off everybody in the entire world. We pray for peace throughout this entire world. We pray that people all start to get along again and we pray that we have this strength to get through anything and everything that God sends our way from me to all of you. It's been a great year with all of you, and I look forward to next year. I look forward to next year for many reasons, especially making an announcement on January 10th of next year. It's something that I have been working on for a long, long time, and it's come to fruition and I've mentioned it before. But you make sure every single one of you tune in to hear what I'm going to announce on January 10th. Okay, everybody So from me, from KT, from all of my heart to all of you, I wish you a very healthy and hopefully happy New Year!
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