Suze Orman Gives Finance Advice At eBay Live

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Financial expert, best-selling author and columnist Suze Orman spoke at eBay Live today, outlining a hit-list of personal finance tips. Orman’s advice centers on credit scores, retirement accounts, investments, real estate, life insurance, and wills.

Suze Orman At eBay Live!
Suze Orman At eBay Live!

"[People] are spending money they don’t have to impress people they don’t know or don’t even like," she said, prepping the crowd for a little financial wizardry.

Orman covered so many topics in the short time she spoke, we compiled a list of tips you can use a ready-reference for bettering your financial situation.

Orman’s Personal Financial Tips and Goals

Goal: Credit score above 760; If you are in credit card debt and your employer doesn’t match your 401(k), redirect that money toward paying off your credit cards. Your FICO score will rise and benefit you more in the long run.

Tip: Have at least a 6-8 month emergency plan fund to finance yourself during times of trouble.

Goal: Home ownership; Owning a home will be the best investment of your life. Most homes appreciate on average about 4% a year.

Tip: Add a revocable living trust (RLT) to your will.

Tip: Variable, universal, and whole life insurance are not good options. Look into term life insurance as you only need it until your youngest child is about 22 years old. Never leave a child under 18 as the beneficiary.

Tip: A Roth IRA is 10 times better than a 401(k) or any other type of plan out there.

Tip: If you don’t need money right away (10 years or so) invest in mutual funds instead of individual funds. 

Suze Orman Gives Finance Advice At eBay Live
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  • http://www.iraaccounts.org/ Richard Murrow

    Thanks for some helpful tip sand infomration straight to the point.
    Richard Murrow

  • laverne

    I’m owning my home it great but in the last 5 mths i have lost 1524.00 in bounce checks. Mostly happens when my draft of Mort. Pymt every two weeks of 815.54 happens. I only get paid twice a month.

    After all pervious headaches things are looking up. Starting this Decemebr I will get paid every 2 weeks. Also the adjustable Interest Rate startd. It appears that my drafts went out of control due to paying via online, elertonic debits> In carelessness I didn’t write it down. I was 100% better in handling my monies.I need to see the vision evidenece that I made those transactions. There only one income of 61,300 and credit card debt of 12,000, car 368.00, loan 9,900> mort. ev2 wks $815.54.
    If I can refi ?? Credit score drop from
    614 < 569. I can’t catch up. what my best options?

    Can the Mortgage Company hold off until I straighing things out with my Bank Account?
    This is killing me of check fees!!!!.

  • Monique

    My car payment is severely passed due. The car company has placed it on my credit report as a charge off and it also stated that it is written off as a profit loss. I am not sure exactly what this means. I understand what a repossession of a car is, but I have never heard of a car being written off as a profit loss. I was recently unemployed for a few months and just started working again. Before I contact the car company, I want to understand exactly what they have done so I will know how to discuss the situation with them. Thank you

  • Eileen Weeder

    I hope you can help.  My husband and I have have a substantial credit card debt.  The interest rate on most are 28.99%.  We have tried to talk with the credit card companies to reduce the rate.  They refuse to work with us, stating that we have been 10 days late in some months.  With that interest rate it’s hard to keep up with the min. payment at times.  We are willing to do whatever it takes to pay them down.  But with the interest rate as high as it is, makes it very difficult.  Any suggestions on ways to approach the credit card companies?  We would love any suggestions.  Thank you, Eileen         

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