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The Money Class: Learn to Create Your New American Dream QUOTES

The Money Class: Learn to Create Your New American Dream QUOTES

1 " Accelerating your mortgage payments is something to be considered only if you are in good financial shape. That means: • You have an eight-month emergency savings fund. • You do not have any credit card debt. • You own your car outright, and you are saving for when you will need to purchase another car. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

2 " If you have more than eight months in your emergency fund: "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

3 " In order to create lasting security you must learn to stand in your truth. You must recognize, embrace, and be honest about what is real for you today and allow that understanding to inform the choices you make. Only then will you be able to build the future of your dreams. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

4 " Reduce your monthly expenses so you can add more to your mortgage payment. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

5 " If you contribute to a 401(k) up to the point of the match: "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

6 " If you have less than $100,000 in your traditional IRA: Keep investing in your IRA, but once you get within 10 years of retirement, consider reducing your IRA contribution by 50% and use that money to pay down your mortgage. For example, let’s say you are contributing $500 a month to your IRA. My advice is to reduce that to $250 a month and then put the remaining $250 into accelerating your mortgage payments. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

7 " you have less than $100,000 in a Roth IRA: "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

8 " Money you spend today is money that will not be able to grow and help you reach your most important future goals, "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

9 " Once more, let’s run down the major points of this class: • Consider paying off your mortgage before you retire. • Start planning for how you will be able to keep working well into your 60s. • Save more today so you will be okay if you can’t afford to save in your 60s. • Make it a goal to delay when you start drawing Social Security, so you can earn a benefit that could be 80% bigger than if you start early. • Make sure all your retirement accounts are invested to complement one another. • Decide no later than age 59 if long-term care insurance should be part of your retirement plan. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

10 " You have the power to make the right and honest decisions about how you handle your money. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

11 " • If you do not need to live off your pension and you want to leave this money to your heirs, you would be better off taking the lump sum and doing a rollover rather than opting for the annuity payment. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

12 " Before you start to save one penny for a child’s future college costs, I insist that you have the following financial priorities taken care of: You do not have credit card debt. You have an eight-month emergency savings fund. You have a term life insurance policy. You are saving for retirement; aiming to set aside 15% of your gross salary. Until all of that is in place you are not to think about saving for college. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

13 " Many of you have heard me say this repeatedly over the years: There is financial aid for college. There are loans for college. But there is no aid or loans to help you in retirement. There is no aid if you run into a rough patch and you do not have sufficient funds in an emergency savings account to navigate your way out of trouble. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

14 " must double down on making yourself an absolutely essential piece of your firm’s success. That should be your goal at any time, but in these times of economic stress it is imperative. It is how you keep moving forward in a very competitive job market. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

15 " The other problem is that UGMA and UTMA assets are treated differently than 529 assets when assessing your family’s application for financial aid. Less than 6% of assets held in a 529 plan owned by a parent (for the benefit of a child) are used to compute a family’s eligibility for aid. By comparison, 20% of assets owned by your child—such as an UGMA or UTMA—are factored into the calculation. In other words, money owned by a child will reduce your eligibility for financial aid, or the level of aid your family qualifies for. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

16 " by the time your child is a senior in high school you will want to have the bulk of your account in conservative investments; it is too risky to have your money invested in stocks when you know you will need that money in one to five years. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

17 " If you want to own individual stocks your portfolio should have a minimum of 10 to 12 stocks. It is never smart to have a larger portion of your retirement funds invested in one stock. No matter how stable that stock looks, we can never be sure of its future. If the money you want to devote to stocks is not enough to buy that many individual shares, then I recommend you focus on dividend-paying ETFs. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

18 " I realize your intentions are good, but you need to distinguish between helping and enabling. People who are standing in the truth and need financial assistance deserve your help, if you can in fact afford to give financial help. People who are looking for your money to solve (probably temporarily) a problem of their own creation are not standing in their truth. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

19 " The first and most important money lesson you need to teach your children is to put money in its place. Ask your children—even children as young as four or five—what they love most. Do not guide them, just listen to what they value. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream

20 " Establish the work-pay-purchase connection. As far as I am concerned there is no age too young to start learning that money must be earned to buy the things your family needs. "

― Suze Orman , The Money Class: Learn to Create Your New American Dream