Podcast Episode – Impatience Is The Downfall To Wealth

In this Suze School, Suze explains why it’s better to be patient and wait out the stock market, versus getting out when dips occur.  By being patient, the long term benefits really come through and your wealth can increase.  Plus, Suze announces a great new way for people with larger amounts of money, to protect what they have.

Listen to Podcast Episode:

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Podcast Transcript:

KT: Hey everybody, KT here in the house. Today is Super Bowl Sunday and before school starts with Suze, make sure you listen to the whole podcast because at the end, she’s got a touchdown surprise for all of you. Enjoy the podcast. Bye-bye.

Suze: February 8, 2026. Welcome everybody to the Women and Money podcast, and Everybody Smart Enough to Listen. Suze O here and today is a Super Suze school. So get out your notebooks, pen, paper, pencil, whatever you do, cause maybe you want to write things down, maybe you don’t, but it’s always nice in case I say something and you go, oh, I don’t want to ever forget that. So then just write it down in your notebooks. All right, let’s begin.

Part of me wanted to call today’s podcast something that I’ve said to you over and over again: that the easiest thing in life is to forget. The hardest thing is to remember.

I wanted to go into great depth about what happened in 2022. We all were on the podcast then. We went through a period in 2022 very, very similar to what we just recently went through with many of the technology stocks that imploded this past week or so.

I wanted to remind you, do you remember how many of those stocks were down 30%, 50%, 60%, and then they came roaring back a little bit later, and then they went to their all-time highs? And if you had just held on in 2022 like I begged you to do, you would have made so much money it’s not even funny.

But then what happened?

Well, last week, actually last Friday, in one simple day, the markets turned. Indexes moved higher. New highs were set. And suddenly the same assets that all of you were terrified of owning just a little bit ago, like a week or two, they were leading again.

So instead of just talking about what happened, I want to talk about what 2022 hopefully taught you and what Friday should have reminded you. You should always remember the lessons that hopefully these past three or four years especially have taught you, OK? So let’s just rewind for just a moment.

In 2022, the biggest, the strongest technology companies in the world were crushed. Not speculative companies. They weren’t startups. They were the best of the best. And we’ll just look at the Magnificent Seven for a second there. What happened to them in 2022, OK?

Apple fell more than 30%. Microsoft nearly 40%. Amazon literally was cut in half, everybody. Google dropped over 40%. Nvidia collapsed more than 60%. Meta fell nearly 80%. Tesla dropped about 75%.

Do all of you remember, and you can find it on one of the podcasts, Meta was at $90 a share. And when asked, KT said, “Oh, I would buy Meta at 90.” Look at the price now. I’ll let you look it up.

So people didn’t just lose their money in 2022. What happened was they lost trust in the market and in themselves. And many of you, many of you wrote in to me and you said, “Suze, Suze, I can’t go through this. I just can’t.” And I urged you back in 2022, please don’t do anything. It’s going to be OK.

And what’s happening now, once again, you are writing me and saying, “You gotta talk to me about these stocks. I’m down so dramatically. I can’t stand it. I don’t want to go through any of this again.”

Those companies back then, and the same companies, many of the technology companies today, those companies didn’t lose their businesses. They didn’t. And none of them are. They lost your patience that yes, they will come back. Yes, they’re good companies. Yes, there are reasons possibly that they’re down.

So it is your impatience for results that keep you from having as much money as you are meant to have in the future. Patience is the key to building great wealth.

You know, sometimes I think that the internet and AI and all these things now happen so rapidly. Like I remember when I got the very first Apple computer, the 512K I think it was. You had to wait a few minutes before it started up. Then it had a little disk drive, and then you had to put the disk in. Then when you wanted to do something, you had to take it out and put it in again and take it out. It took forever to do something, but it seemed like it was a whole lot faster than doing it manually back then.

Now, if your iPhone or your computers or whatever it is that you’re using, if they don’t start immediately, if there’s any lag, you absolutely freak out. So we’ve become a society where we don’t have patience anymore for an answer or for something to be done. And the lack of patience, if you ask me, your impatience is going to lead you to make serious financial mistakes.

So if you fast forward from 2022, and listen, that wasn’t that long ago. I am not talking about years and years ago. Three years ago, four years ago, nothing. So if you just simply fast forward, everybody, those companies didn’t just recover. Many of them went on seriously to make new highs.

Apple climbed back above prior levels. Microsoft surged to records. Amazon reclaimed ground people thought was gone forever. Google absolutely reasserted its dominance. Nvidia became the symbol really of the AI era. And Meta shocked nearly everyone with its comeback.

So I want you to ask yourself and answer this very honestly. If these companies were finished, they were over, as many of the pundits said, if they were really finished in 2022, why are they leading again now? Why?

Because fear always sounds smartest at the bottom. Write that down.

Do you know how many people in 2022 said, “Suze, did you sell?” And I said, “No.” And many of these people were on the island that we lived on, many very wealthy, and said, “Are you kidding me? We sold everything.” They said, “You’re going to lose your money.” I said, “No. That money is invested, and I don’t need it for at least 10, 15 years. It’s fine. I’m going to let it be.” And they said, “All right, but it’s not a smart move for you to stay in.”

That’s because fear always sounds smartest at the bottom.

A year or so later when I saw those same people, I said, “Oh, how are you doing now?” They said, “Oh no, we’re just waiting to get back in. It’s all right, it’ll come back down again.”

Because when you sell something, it is very difficult to buy it back. And when it starts to go up, and it’s going up higher than what you sold at, it’s very, very, like I said, difficult to buy then again when you already had owned it. So you wait and you wait until it comes back down again. And actually what happens? It never comes back down again.

So what happened on Friday?

Now I could go in and I can talk to you very carefully about why I think it went down, what was going on, but I have to tell you, I don’t even think that matters. Why doesn’t necessarily matter at this point in time.

What we saw happen on Friday is in one day, people, one day, the Dow Jones Industrial Average closed out at the highest it has ever been. I want you to think about that.

The Standard and Poor’s 500 index, which many of you are invested in, is only 1% below its all-time high. And the NASDAQ, which holds most of the technology stocks and the things that really got clobbered, is only 2 to 3% under its all-time high.

So many of you, if you look at the ETFs and the things that we said you should be diversified in besides individual stocks, overall you’re not doing that bad.

So here’s what happens to most of you when you invest in the market, and especially in individual stocks. You have individual stocks possibly that have been skyrocketing and skyrocketing and going up and going up. And what you do is you take the price of what it’s at, at the point that you’re looking at it, how many shares you own, and “Oh my God, I’m worth this much money.”

Again, I have told you time and time again, until you have sold, you have not made the money. So let me just give you an example here, OK?

I bought a stock starting at $7 a share. And I bought a lot of it. And as it went up, I started to dollar cost average into the stock. And because I bought so many shares when in fact it was lower, my cost basis on the stock today is $35 a share.

This stock went all the way up to $200 a share, right around there. Now let’s just assume we’re talking about 1,000 shares. Just let’s assume that’s true.

So here, the normal person looks at it and goes, “I have 1,000 shares. Oh, it’s worth $200. I have $200,000 in this stock.” And then all of a sudden this stock starts to go down and down and down. And now the stock is at $135 a share.

So in your head you have lost $65,000, the difference between $200,000 what it was at and $135,000 what it’s at right now. So you’ve lost $65,000. No, you have not lost $65,000.

Remember, your cost basis is $35 a share, or $35,000. It’s at $135,000 of actual value right now if you wanted to sell. You are still up $100,000. You are not down $65,000.

You’re down $65,000 in profit, but you’re still up $100,000 in profit. So you have to look at that and decide, do you want to sell it? Do you want to keep it? What do you want to do?

But stop thinking that you’re down so much money because all you do is look at what it’s worth at the time that it’s trading. You don’t look at how much you have still made or you’re still up.

So all of you should keep a little ledger of your cost basis in every stock and mutual fund or ETF so it gives you the perspective. Are you still up or have you actually lost money where it is below your cost basis?

So I just want you to remember that. Now thousands of you have written in to the AskSuzePodcast@gmail.com. That is the email to really write in. You say, “I’m so nervous. I don’t know what to do. Please help, Suze. We’re losing money.” I want you to think about the example that I just gave you.

If you’ve been listening to me, if you’ve been listening to Keith Fitz-Gerald, who by the way I have asked to come on next Sunday together, he said yes, so we will be doing a Suze School together. However, many of you are still so nervous.

So let’s just go back right to the present of what just happened, because really Friday changed the emotional tone of everything. Markets moved higher, as I recently just said. Confidence returned. New highs were made, not because the world suddenly became perfect, everybody, but because markets moved ahead of the headlines, not behind them.

What does that mean? It’s that the markets actually showed everybody, when everybody was saying we’re going to crash, it’s over, whatever, the markets moved ahead of those headlines and you started to feel better.

But here’s what that moment always triggers. It triggers relief. Don’t you all feel relief at this moment in time? But very shortly it’s going to be followed by uncertainty.

Many of you felt better, but you also, as the markets go up and down again, you will again feel nervous. And that’s where I want you to slow down this conversation.

Because when markets move fast, they go up, they go down, you’re going to make the same mistakes. You are going to start to once again think in all these extremes. You’re either all in or all out. You risk everything or you hide everything. And none of that is a plan.

Again, what are the rules of investing? The rules of investing are you do not invest in the stock market on any level unless this is money that you do not need for five, 10, or 15 years or longer.

Now there is an exception to that. If you are in dividend-paying stocks that are solid, that have good cash flow, all of that, then maybe you’re better off than anywhere else, especially if interest rates start to come down, which I think they are absolutely going to do, especially because there’s going to be a new Fed chief, OK?

And I would not be surprised if during this year, next year, you see at least three Fed decreases. And when that happens, interest rates for all of you start to come down even more. So dividend-paying stocks that are also good quality stocks might give you a higher return in the long run.

But for the technology stocks and all of those stocks, those are stocks that if you’re investing in them, you do not need your money for at least five or 10 years or longer.

As I just said a second ago about my belief that interest rates are going to come down, many of us have benefited from the fact that interest rates have been so high for so long, right? But what’s going to happen when rates do start to come down?

They will come down quietly. They will come down gradually. And that’s why where you park your safe money right now matters. Not your long-term growth money, not your investing money, but your sleep-at-night money.

Put a pin in that for a second because I want to tell you about a super announcement that I want to make right now.

Many of you, and when I say many, I mean many of you are writing to me and you’re saying, “Suze, we have $100,000, we have $200,000, we have large amounts of money that we don’t know what to do with. What should we do with it, Suze? Tell us.”

And when you don’t know what to do with money, the best thing to do with it is actually keep it safe and sound until you know what to do with it.

The problem is I don’t necessarily want you to put it into Treasuries because who knows if interest rates really are or are not going to come down. Because if you put it in there and you need it, I don’t ever want you to have to take a loss on it.

I want your money that you don’t know what to do with right now, or you just want to keep it safe and sound—why? Because these markets still make you nervous, or you’ve already invested enough in the market and now you just want large sums of money safe, because many of you have large sums of money that you just want safe at a good interest rate.

An interest rate that will probably stay as stable as can be, if it can. You can get at it anytime you want it. One hundred percent insured.

Because I don’t know if many of you know that a lot of you have money in money market accounts and things like that and they are not insured. You want to know at times like this that your money is 100% either FDIC insured or NCUA insured by credit unions. You want to know that it is insured.

And so to that end, I started to talk to Alliant Credit Union about what can be created just for these people with large amounts of money that they want safe, they want sound, they want it insured, and they want a good interest rate. Not necessarily the top interest rate, because all of you have to remember when you have the absolute top, there’s risk involved.

There’s all kinds of things that back those investments. You want your money somewhere where the portfolio backing your investment has really been thought about, is safe, is really not going for the highest rate—which I’ve told you I never go for the highest rate. I go for the safest rate.

So this took a while to create, believe it or not, but Alliant Credit Union has put something together that I think will satisfy the majority of your needs. And they created what’s called a jumbo savings account. This is not a certificate. This is not somewhere where you lock up money. It is a jumbo savings account.

So what that means to all of you is that there are no lockups, no tying it up to get your money. Your cash stays liquid and available, and it is NCUA insured up to $250,000.

Now listen to me closely. The current rate is 3.35% APY. However, this is only available to those of you who deposit at least $100,000 or more. And if you maintain an average daily balance of $100,000 for one year, at the end of the year you will get a $250 bonus.

But here is the clincher. You have to open this account by March 31st of 2026. So this, believe it or not, is a rich offer, and they only want to offer that bonus till March 31st, 2026.

So I know many of you right now have certificates that are coming due at Alliant or other places. I know there are many of you out there right now that have large sums of money sitting in bank accounts making what, 0.09% or something like that. There are many of you out there that this situation fits.

Now truthfully, I can tell you that just put in $100,000. That’s fine. You don’t have to put in more if you don’t want. But it is insured up to $250,000 from NCUA.

All of a sudden you want to take the money out. You want to say, “Oh, it’s good. Everything’s OK, but now I want to go back in the market,” or, “You know what? I want to use this money for a down payment on a house,” or whatever it is. This is a savings account. This is not a certificate.

For those of you with lesser money, you still have the Ultimate Opportunity Savings Account that’s paying around 3% to 3.10%. That’s still a great rate for lower amounts of money. You also could do a six-month certificate at Alliant. I think the rate is 3.9%. So you could do a combination of all of those things.

Again, I do not make a penny if you do any of this. We’re just trying to find a way for you to have money somewhere where I personally know it’s safe and that I really believe that interest rate will hold a lot longer even when interest rates overall with the Fed start to go down.

Now one other thing that I want to announce. Many of you have said to me, “Suze, I want to put my money in Alliant Credit Union, but I can’t do it in a trust.” Well, now you can, believe it or not.

So when you go to myalliant.com, M-Y-A-L-L-I-A-N-T.com, you will see a little telephone number that you can call in. And now Alliant Credit Union has made it possible that you can hold your accounts in a living revocable trust.

For those of you who for some reason don’t ever remember that you have to go to myalliant.com because this $250 bonus is available only to those of you listening right now, to Suze customers—how do they know that you’re a Suze customer? Because you come into them through myalliant.com. You don’t go to the website that everybody else goes to.

If you forget that, just go to SuzeOrman.com, S-U-Z-E-O-R-M-A-N.com, and you’ll see it right there, jumbo savings. Click there and it will take you right into where you need to go.

So I just wanted to tell you about that because I do think it is a great rate, because it is a savings account, because it is insured, and I personally know what is backing that rate and I feel safe with it. So there you go.

KT said to me, she goes, “I want to do that. I’m going to do that.” You know how conservative KT is, so when she decides to do something, it’s like, OK, now.

Again, not the highest rate by any means, everybody. But I never go for the highest rate. I go for the safest rate. Just that simple.

So Super Bowl, the Olympics, a super jumbo offer from Alliant Credit Union, and a super return of the market last Friday.

I just want to close by saying if you know you have good quality stocks, you always continue to dollar cost average. Or you know you have enough in a stock and you just love the stock but you don’t want to put any more money into it—like me, by the way. I did not put more money into the stocks when they went down. Keith did. I did not, because I have a serious sum of money in all of them already.

But I have total faith that they will absolutely not only come back, but they will skyrocket just like many of them did in 2022.

So until Thursday, when Miss Travis joins us again with the Ask KT and Suze Anything, there’s only one thing that I want you to remember when it comes to your money, and it is this: people first, then money, then things.

Now you stay safe and go to myalliant.com just to check out the jumbo savings offer. All right everybody, bye-bye now.