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Winning Money Moves During Uncertain Times · Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

0:07
Suze: March 8th, 2026. Welcome everybody. Today is International Women's Day,
0:14
Suze: and we also have a surprise for you, but kind
0:18
Suze: of a regular now. We're having Keith Fitz-Gerald, better known
0:22
Suze: as Fitzy, according to me, although KT is like Suze,
0:26
Suze: address
0:27
Suze: him properly as Mr. Keith Fitz-Gerald. How do you feel
0:30
Suze: about me calling you Fitzy, Fitzy?
0:32
Keith: I love it. This is great. And KT I love you,
0:36
Keith: but I'll go with Fitzy.
0:38
Suze: So, the reason everybody that I wanted Fitzy to come back,
0:41
Suze: on to the Women in Money podcast is this.
0:47
Suze: The times are crazy. I'm getting thousands of emails from
0:52
Suze: all of you saying, Suze, I don't know what to do.
0:54
Suze: We're at war. Should I sell everything? I think I
0:57
Suze: should get out of tech and get into defense, and
1:01
Suze: today is really here to calm you down again because
1:06
Suze: as we speak,
1:08
Suze: we are at war. Oil is skyrocketing. Tech is still
1:12
Suze: something that all of you are scared of, and you
1:15
Suze: need solid direction, in my opinion, when it comes to
1:20
Suze: the financial markets. And truthfully, nobody, in my opinion, is
1:24
Suze: better than that than Keith Fitz-Gerald, or as I call him, Fitzy.
1:29
Suze: So Keith, seriously.
1:32
Suze: Are these hard times? Are these times to be worried?
1:36
Suze: Are these times for people to be selling? What are
1:39
Suze: these times that are happening right now in your opinion?
1:43
Keith: Well, I'd be lying if I didn't feel the angst too.
1:45
Keith: I mean, I'm a father, I'm a husband, I, you know,
1:48
Keith: we're a military family. I mean, this stuff is for real.
1:50
Keith: It's scary. There's angst creeping around the edges. The other
1:53
Keith: thing to think about is that this is not our
1:56
Keith: first rodeo, Suze. In fact, conflict like this is upset.
2:01
Keith: as it actually is sets the stage for what happens next.
2:05
Keith: Even the fiercest fighting eventually stops. So the real problem
2:09
Keith: right now with the markets is actually your emotions and
2:11
Keith: the person looking out at you in the mirror, and
2:14
Keith: that's the person you need to get under control because
2:16
Keith: the companies and the profits, they'll follow.
2:19
Suze: And if you were to go back, if you can,
2:22
Suze: and look at all the wars, maybe not all of them,
2:25
Suze: but a lot of the wars that have happened.
2:29
Suze: After they were over, what did the markets do?
2:32
Keith: Well, that's an interesting and very important question for everybody
2:36
Keith: listening today. If we look back at 10 major conflicts
2:39
Keith: over the last 35 years, there's some surprising data that
2:42
Keith: shows up. And to the point about calm and not
2:45
Keith: being our first rodeo, let this stuff sink in. So
2:48
Keith: in August 1990, Iraq invaded Kuwait. The S&P 500 dropped 16.9%
2:54
Keith: over 71 days. Every headline screamed sell every talking head
2:59
Keith: said the end is upon us. People who sold at
3:01
Keith: the bottom locked in, you know, 17% loss, but investors
3:06
Keith: who bought at the bottom and who reinvested all the
3:08
Keith: way through that conflict made at least 24% in under
3:12
Keith: five months.
3:14
Keith: Right, so that's just one of the conflicts. If we
3:16
Keith: look even at the horrific events of 9/11 in 2001, right?
3:21
Keith: I mean, I lost friends that day like many people did.
3:24
Keith: The worst attack in American history. Markets closed for 4 days.
3:27
Keith: The SPY dropped 11.6% in a single week. And again,
3:32
Keith: everybody said, you know, wow, this is terrible, this is
3:34
Keith: the end. But in fact, the markets bottomed on September 21st,
3:38
Keith: and by December had recovered 21.2% from that low in
3:42
Keith: just 10 weeks.
3:44
Keith: And then if you go to 2003, right, the US
3:46
Keith: invaded Iraq, the market had already sold off 14.7% in
3:51
Keith: the lead up, very similar to this. Fear had been
3:54
Keith: priced in for months, but again, markets rallied 27% in
3:58
Keith: the year that followed. And finally, if we go to
4:00
Keith: 2020 where we had the Soleimani strike, markets barely moved.
4:04
Keith: COVID came in afterwards, and the S&P 500 exploded 67%
4:11
Keith: in the following few months. So the thing that you
4:14
Keith: wanna think about, and again as uncomfortable and as disconcerting
4:18
Keith: as this is, every investor who sells out now is
4:21
Keith: making an emotional decision under the guise of being rational
4:25
Keith: when being rational is really what you want to do
4:27
Keith: because the numbers present something very, very different. The average
4:31
Keith: recovery is 16%.
4:33
Suze: But here you are, they're going down and down, but
4:36
Suze: you're stuck because you don't have any more cash. What
4:39
Suze: do you do then?
4:41
Keith: Well, there's two things to think about, right? Number one,
4:44
Keith: now is the time to make sure you're comfortable with
4:47
Keith: the companies you own. So let's say you don't have
4:49
Keith: any more cash. Take a hard look at, are you
4:52
Keith: comfortable with every single company that you own? And if
4:55
Keith: you're not, the question to ask yourself is, do I
4:57
Keith: want to own this in five years or will I
4:59
Keith: regret not owning it in five years? And if the
5:01
Keith: answer is I don't know what this company does and
5:04
Keith: I'm not comfortable with it, now is actually the time
5:06
Keith: to sell. But if you've been buying great companies all along.
5:11
Keith: Then now is the time to take a deep breath,
5:13
Keith: you remember the numbers that I've just shared with you,
5:15
Keith: and you just ride this thing out as uncomfortable as
5:18
Keith: it's gonna be. History shows there has never in recorded
5:22
Keith: human history been a war for which the markets have
5:25
Keith: not come back.
5:27
Suze: And the reason, everybody that I wanted Keith on is
5:30
Suze: that I've been telling you this now for years, for
5:33
Suze: over 40 years that I've been doing this, but I
5:35
Suze: think it's very important that you also hear a second opinion,
5:40
Suze: that it's not just Suze saying, do this, keep investing,
5:44
Suze: do that. It's important when we check with each other,
5:47
Suze: don't you think, Keith, to make sure that we're still
5:49
Suze: on the same wavelength, right?
5:50
Keith: Well, absolutely. You and I talk very, very regularly to
5:54
Keith: do exactly that because, you know, even we check with
5:57
Keith: each other because we want to make certain we have
5:59
Keith: clear guidance, we know where the road is going. We
6:01
Keith: already know where the road has been, so it's important
6:03
Keith: we stay focused on where the road is going, and
6:06
Keith: you've done that better than anybody for 40 something years.
6:09
Suze: Here we are, we're seeing oil spike again. So, should
6:15
Suze: people be buying oil, selling oil? What should they be
6:18
Suze: doing at this point in time, if they happen to
6:21
Suze: own energy stocks, or they want to own energy stocks,
6:25
Suze: in your opinion?
6:27
Keith: Well, that's a very important question, a very important distinction,
6:30
Keith: because you don't wanna chase oil for oil's sake. What
6:33
Keith: you wanna do is chase oil with great companies that
6:36
Keith: produce it, store it, move it, and let it go
6:38
Keith: around the world. So a company like Chevron, for example,
6:41
Keith: which has a great dividend, it has balanced upside and
6:45
Keith: downside distribution and production, meaning that it's not just the
6:48
Keith: stuff coming out of the ground, it's how they process it,
6:50
Keith: where it goes, who are they selling it to. A
6:53
Keith: company like Chevron can make money at $30 a barrel,
6:56
Keith: and it
6:56
Keith: can make money at $100 a barrel. So forget about
6:59
Keith: chasing oil just because it's going up. Concentrate on finding
7:02
Keith: a great company that can maneuver with oil, no matter
7:06
Keith: whether it goes up or down.
7:08
Suze: I'm going to put you on the spot here. I
7:10
Suze: already know your answer, by the way. So if you
7:12
Suze: were going to pick one energy company, oil company, people
7:16
Suze: want to participate, they see it in the 80s, it's
7:19
Suze: probable it's going to go to 100. Would you be
7:23
Suze: buying Chevron right here via a dollar cost averaging basis?
7:28
Keith: Without a doubt I own plenty of it and I
7:31
Keith: hope to own a lot more because I like the
7:33
Keith: same things we're talking about. I like stability. I like growth.
7:37
Keith: I like being able to sleep at night and most
7:39
Keith: of all, I really like the dividend because that's cold
7:42
Keith: hard cash. So to return to our earlier example, if
7:45
Keith: you're investing in companies like this, you're never really out
7:48
Keith: of cash. You've always got a dividend coming in, for example,
7:51
Keith: and that can be reinvested in Chevron or even turned
7:53
Keith: to other opportunities.
7:55
Suze: Now, tell everybody why you just said a second ago,
7:58
Suze: they're going to make money, the oils are up. Tell
8:00
Suze: everybody why Chevron isn't going to be as affected as
8:04
Suze: much about what's happening out there as many other oil
8:09
Suze: companies will be.
8:10
Keith: Well, sure, one of the beauties of Chevron, right, and
8:13
Keith: one of the reasons why I continue to focus on it,
8:15
Keith: to the exclusion of all of the other oil majors
8:18
Keith: is that they've got distributed production around the world. So
8:21
Keith: if we have problems in the Middle East, they can
8:23
Keith: shift to Guyana, they can shift to South America, they
8:26
Keith: can go back to Venezuela because they never left. They
8:28
Keith: have stuff in the Permian Basin that's functionally profitable at
8:31
Keith: 30
8:32
Keith: to $40 a barrel. So it's a company that has
8:35
Keith: a well rounded, very defensible, to borrow a term from,
8:39
Keith: from Uncle Buffett, moat around it, and it's, it, I
8:42
Keith: think one of the finest companies in the world that
8:44
Keith: you can buy great dividend, great stability, and we're gonna
8:48
Keith: need dinosaur juice for a long time to come.
8:50
Suze: So all of you, here's what I really want you
8:52
Suze: to get from.
8:53
Suze: This, especially with the oil companies and dividends, you have
8:57
Suze: to look at a company, not just at the yield
9:00
Suze: it's giving you, OK? You look at the stock and go,
9:02
Suze: oh my God, it's going to give me a 7% dividend.
9:05
Suze: You have to make sure that the dividend is safe.
9:08
Suze: You have to know, does the company itself have diversification
9:13
Suze: within the company?
9:15
Suze: So that if something happens in X, they still have
9:18
Suze: Y to produce money for them, which is why I
9:21
Suze: wanted to bring up this topic. Keith, would you go
9:24
Suze: so far to say that if people have other oil
9:28
Suze: companies right now and they see them going up...
9:31
Suze: How do they check to make sure that they're not
9:34
Suze: exposed to them going back down or danger again? Should
9:37
Suze: they transfer to a stock like Chevron? What would you
9:40
Suze: tell them at this point in time?
9:43
Keith: Well, that's an interesting question. Uh, you know, obviously everybody
9:45
Keith: has very different positions. If you've held the stock for
9:48
Keith: a long time and it's a legacy stock and it's
9:50
Keith: working for you, then, OK, that's fine. But if you're
9:53
Keith: concerned about the company's longevity, like I am, for example,
9:55
Keith: which is why I own only Chevron in the oil majors,
9:59
Keith: you want to check three things. You want to check.
10:01
Keith: Where do they produce their oil? You want to check
10:03
Keith: how much debt do they carry, because if they carry
10:05
Keith: a lot of debt, that means their break even is much,
10:08
Keith: much higher, and they're subject to the price of the
10:11
Keith: underlying oil shifting around. And finally, you want to look
10:15
Keith: at management. Does management, and again, you'll get this from
10:17
Keith: an annual report, you can do it in 20 minutes.
10:19
Keith: Do you get the sense that...
10:21
Suze: Wait a minute. You just said you can get it
10:22
Suze: from an annual report.
10:25
Suze: Nobody knows where to get an annual report, Keith. You
10:28
Suze: know where to get an annual.
10:29
Keith: No, no, no, no, hold on, hold on.
10:31
Suze: All right, right, right. Go on.
10:32
Keith: We got this great thing called the internet, right? So,
10:34
Keith: so what I would encourage any investor who's concerned about
10:36
Keith: this to do is forget the chat rooms, forget the
10:39
Keith: ticker stuff. Just go right to the company. There's gonna
10:41
Keith: be a little section on their website says investor relations.
10:44
Keith: Pull up the most recent annual report, read through it,
10:48
Keith: take 20 minutes.
10:49
Keith: Because annual reports will give you an instant snapshot of
10:53
Keith: where the company is, and you will know really quickly
10:56
Keith: whether the company walks the talk or talks the walk.
10:59
Keith: In a company like Chevron, for example, if you read
11:01
Keith: the annual report, even quickly, you're gonna see that they're
11:04
Keith: the real deal. If you read an annual report from
11:06
Keith: another company, maybe you're gonna see management hemming and hawing.
11:09
Keith: Maybe you're gonna see some of the dog ate my
11:11
Keith: homework kind of language. Maybe you're gonna get the sense that, hey,
11:14
Keith: they really produce 90% of their oil in the Middle East.
11:17
Keith: It doesn't have to be complicated because even, even a
11:20
Keith: rank amateur, even my grandmother used to say, you know,
11:23
Keith: even the simplest farmer can figure out where the most
11:27
Keith: complex crops grow, and you just look right at that
11:29
Keith: annual report, you'll know in 10 minutes.
11:31
Suze: All right, now let's say they don't want to do that.
11:34
Suze: If they went to Chat GPT or any of the
11:36
Suze: AI devices that are out there and they put in
11:40
Suze: the things that you just said, what is management, what, whatever,
11:44
Suze: would they get the correct answers there? Would they?
11:48
Keith: I would like to think they're going to get the
11:50
Keith: correct answer, but in many cases they won't because they're
11:52
Keith: gonna get an amalgamation of what chat GPT thinks is
11:56
Keith: the correct answer.
11:57
Keith: So this is one of those things like if you're
11:59
Keith: a doctor, right, the doctors look right at the patients.
12:02
Keith: If you look just at an EKG machine you're gonna
12:04
Keith: know some information, but it's better to look at the patient.
12:06
Keith: So look right at the patient in an instance like
12:09
Keith: this because if your fears are getting the better of you,
12:11
Keith: that's the sure antidote that's the way to fix this
12:14
Keith: is to look right at the patient, which is in
12:16
Keith: this case the individual oil company.
12:18
Suze: So for those of you that get afraid, an annual report,
12:21
Suze: I have to do that, can you just try it.
12:24
Suze: Can you just try doing it, reading a little bit
12:27
Suze: about it? It's not as scary as you think. And
12:30
Suze: how many times do I have to say to you,
12:32
Suze: what happens to your money directly affects the quality of
12:35
Suze: your life, not anybody else's life. So, what we're trying
12:39
Suze: to do here is not just tell you what to do.
12:42
Suze: We're trying to educate you as to how to do it,
12:47
Suze: how you could
12:48
Suze: know for yourself, because especially on International Women's Day, all
12:53
Suze: of you have to really own the power to control
12:56
Suze: your destiny. And one of the ways that I want
12:58
Suze: you to do it, Keith wants you to do it seriously,
13:01
Suze: is to know where to go on your own to
13:05
Suze: get the information that you need. Switching topics for a
13:08
Suze: second here, so many emails saying, what defense stock should
13:12
Suze: I buy?
13:13
Suze: Should I sell my tech, and should I get into defense? Now,
13:19
Suze: I've told them what I thought in the podcast. Now
13:22
Suze: it's your turn.
13:25
Keith: Well, again, you know, ask yourself very simply, look in
13:28
Keith: the mirror. Do we need both of these things for
13:30
Keith: a very long time to come? And if you're an investor,
13:33
Keith: you get one answer. If you're a trader, a speculator,
13:36
Keith: or a ticker tourist, you get another, right? My impression,
13:40
Keith: my point of view is that we need these things
13:42
Keith: for a very long time to come, and many defense
13:45
Keith: stocks are in fact tech stocks and vice versa. So yes,
13:49
Keith: I would submit we do need these things, but I
13:51
Keith: wouldn't sell either of them, honestly.
13:53
Suze: So you wouldn't sell defense here, you wouldn't sell tech here.
13:57
Keith: Nope. As a matter of fact, I'd do the exact opposite.
14:00
Keith: I'd be buying more tech in particular because those businesses,
14:04
Keith: you know, despite the short term noise, Suze, and despite
14:06
Keith: the fear that's raging through the headlines right now, the
14:09
Keith: angst that we all feel, you know, many of those
14:11
Keith: tech companies are growing at double, triple digit rates, you know,
14:15
Keith: the short term market
14:16
Keith: noise has very little to do with the business case
14:18
Keith: for owning the world's greatest companies, tech in particular. People
14:22
Keith: wanna make it complicated all the time, and that's what
14:25
Keith: we struggle with, right? You know, people like me, I
14:28
Keith: try to explain it simply. Suze does it really well
14:31
Keith: and I try to emulate her because I've learned from
14:33
Keith: Suze over the years, but you know, you, you've got
14:36
Keith: to just keep it really, really simple.
14:39
Keith: Where do I go from here? And the answer is
14:41
Keith: we're probably gonna need both of those things for a
14:43
Keith: long time and tech in particular is beaten down to
14:46
Keith: the point where the, the value of that company in
14:49
Keith: the market's opinion is equivalent to something like a consumer stock,
14:53
Keith: meaning where you go buy your bread and butter quite
14:55
Keith: literally or your tennis shoes or whatever, and that makes
14:58
Keith: no sense because you know tennis shoes you have to
15:00
Keith: buy a pair of shoes
15:01
Keith: every time you want to turn a profit, but a
15:03
Keith: tech company, you change a few lines of code and
15:06
Keith: you produce billions of dollars. So the scale is much
15:10
Keith: more significant, which is why when they're on sale, you
15:14
Keith: want to go for the tech, not the shoes.
15:16
Suze: So let me ask you this for energy, you gave
15:19
Suze: them Chevron. If you were going to give them one
15:23
Suze: stock for tech, what would that stock be?
15:27
Keith: Today it's gonna be Microsoft. When you think about how
15:31
Keith: many people use Microsoft around the world, people think about
15:34
Keith: it as software, but I submit the real business of
15:37
Keith: Microsoft is bringing people together. It brings them together through
15:41
Keith: Word and Excel and all the document processing we do
15:44
Keith: every single day on the computer, but it brings together
15:47
Keith: the big data through Azure. It's cloud storage. It brings
15:50
Keith: together gamers. It brings
15:51
Keith: together processing medical records, so the company is really about
15:55
Keith: this huge ball that is humanity, and I think it's
15:59
Keith: one of the most fundamentally needed companies in the world
16:01
Keith: today and it's trading on par with the valuation that
16:04
Keith: we haven't seen but a handful of times over the
16:06
Keith: last 30 years the dot com crash, the financial crisis,
16:10
Keith: the 2022 tax reset, the Powell pivot in 2018. So
16:14
Keith: you can buy Microsoft cheaper than you'll probably see in
16:17
Keith: a generation.
16:18
Suze: And just I have to ask this, does Apple rank
16:22
Suze: at all in your opinion?
16:24
Keith: Oh, yes, I mean, don't get me wrong, I'm not,
16:27
Keith: not pooh hoohing Apple at all. As a matter of fact,
16:29
Keith: I think Apple is one of the greatest single winners
16:32
Keith: out there. One of the things that I've learned about
16:34
Keith: Apple over the years, and I've been following this company
16:37
Keith: for a very, very, very long time, I figured out
16:40
Keith: early on that it was a platform, not a phone,
16:43
Keith: not a computer maker, whatever. You've got a company with
16:46
Keith: 2.5 billion installed devices out there.
16:51
Keith: Every single one of those devices is potentially a cash platform,
16:55
Keith: a data platform, a medical platform, an exchange platform, uh,
16:59
Keith: of an ability to do research, an ability to talk,
17:01
Keith: you know, they're not behind in AI, they're not behind
17:04
Keith: in anything else. The company is most dangerous when it's
17:07
Keith: quietest and everybody has written it off because they redefine
17:11
Keith: the customer experience and I think
17:14
Keith: Apple's getting ready to release something very significant at its
17:17
Keith: developer conference this year because I get that same sort
17:20
Keith: of quiet sensation that I got just prior to the iPhone...
17:24
Suze: You get that tingling in your belly, do you?
17:25
Keith: What's that?
17:25
Suze: You got that tingling in your little belly. So now
17:28
Suze: you've said Chevron, Microsoft, Apple. Let's talk about defense for
17:34
Suze: a second here. If you are going to give
17:37
Suze: people, a defense stock that you would feel comfortable in
17:41
Suze: buying right now because if you look at what's happened
17:43
Suze: to many of them over the past week, they actually
17:46
Suze: took a serious hit. Didn't you find it was funny
17:49
Suze: that when we were bombing, we were doing all this
17:52
Suze: stuff and those stocks were going down and down and down.
17:56
Suze: So if you were going to give them a defense stock,
17:59
Suze: which one would it be?
18:01
Keith: Well, my favorite bar none is going to be Lockheed
18:03
Keith: Martin because of the way the company operates.
18:07
Keith: Again, if you look at the annual report, they make
18:09
Keith: exactly the kind of technology that we need to defend
18:12
Keith: this country, uh, to prosecute the war, whether we like
18:16
Keith: it or not is moot. Again, you know, I'm not
18:18
Keith: a fan of this. I don't like what's going on.
18:20
Keith: I would have handled this potentially very differently, but that's
18:23
Keith: not my call. What is my call is to figure
18:26
Keith: out how we get through this, and Lockheed Martin makes
18:29
Keith: many of the defense systems that are integral to how
18:32
Keith: this is going to get done and what's going to
18:33
Keith: be needed to keep our country safe for a long time.
18:36
Suze: So here we are at a time of a whole
18:39
Suze: lot of turbulence of nobody really knowing, is it going
18:42
Suze: to get worse, is it going to end in a
18:44
Suze: week or two? Is it going to go on for
18:46
Suze: a year or two. We have all these people out there,
18:51
Suze: and let's just say somebody is in their 70s because
18:56
Suze: a lot of my peeps are in their 70s. They
18:59
Suze: are women.
19:01
Suze: What would you tell them? How would you kind of
19:04
Suze: say this is how you should be invested, assuming they
19:07
Suze: don't have any credit card debt, they have everything else
19:10
Suze: in order. In terms of their portfolio, how would you
19:15
Suze: be investing them?
19:17
Keith: So I would say number one, good on you because
19:19
Keith: you've gotten all the bases covered, but number two, the
19:22
Keith: thing to think about is that you may live odds
19:25
Keith: are as we improve science and medicine, you may live
19:27
Keith: a lot longer than you think you will, which means
19:30
Keith: you need to stay in the game longer than you
19:32
Keith: think you will. The old fashioned rules about, you know,
19:35
Keith: invest x percent because you're this
19:37
Keith: many years old, don't work anymore and the world is accelerating.
19:40
Keith: So number one, I think you need to stay in
19:42
Keith: the game a little bit longer. Number two, I would
19:44
Keith: take a very hard look at what allows you to
19:46
Keith: sleep at night, you know, are you over your skis,
19:49
Keith: meaning you're taking on too much risk? Are you uncomfortable
19:51
Keith: for any reason? There's usually a very simple explanation for that.
19:54
Keith: Maybe you're investing in stocks you don't understand.
19:57
Keith: But my advice would be take a good hard look
19:59
Keith: at your portfolio, take a good look at the dividend producers,
20:02
Keith: take a good look at the stuff that's stable, no
20:05
Keith: matter what happens in the Middle East.
20:08
Suze: And, and here's what I would want all of you
20:10
Suze: to know from my perspective, which is,
20:13
Suze: The markets don't take as long to recover today as
20:19
Suze: they did five or 10 years ago. So what really
20:23
Suze: aggravates me so much, I can't even stand it. I
20:26
Suze: think I talked about it on last Sunday's podcast about
20:30
Suze: regrets is when people get out of stocks as they
20:34
Suze: get older and into
20:35
Suze: to bonds to keep them safer. Are you kidding me?
20:40
Suze: That is not what you want to be doing anymore.
20:44
Suze: And I even said to you know, in my books
20:46
Suze: that I've written over the past, God knows how many years,
20:49
Suze: where you would take your age, subtract it from 100,
20:52
Suze: and that's how much you should be in stocks, that
20:55
Suze: doesn't hold anymore, everybody.
20:58
Suze: So, you really have to, in the same way, you've
21:01
Suze: been able to excel because of AI, because of the computer,
21:05
Suze: because of all the new technology out there, you have
21:08
Suze: to understand that things don't work the way they used to.
21:13
Suze: Would you agree with that, Keith?
21:15
Keith: Oh 100%, because, you know, not only are the things
21:19
Keith: not working the way they used to, but they're accelerating.
21:22
Keith: Now the beauty in that is at first it seems scary,
21:24
Keith: instinctively that seems scary, but really it's opening an entirely
21:28
Keith: new door of opportunity and the bond markets in particular
21:31
Keith: are a great example because what people don't realize is
21:34
Keith: the very bonds that Wall Street is telling you are safe.
21:37
Keith: In fact, the bond market is more volatile, more collateralized,
21:41
Keith: and more debt ridden than the stock market.
21:44
Keith: So my preference would be and my advice to you
21:47
Keith: would be look for those great CEOs, look for those
21:51
Keith: people who are executing because those people, forget the government,
21:55
Keith: forget the Fed, forget the banks, any of that nonsense.
21:57
Keith: The CEOs are tasked with finding their way through this anyway.
22:01
Keith: So if you can identify great people just like you
22:04
Keith: talk about all the time, so the first people,
22:07
Keith: then money than things in that order you can find
22:09
Keith: that in the annual report. You can find that in
22:11
Keith: the newspaper...
22:12
Suze: You and that damn annual report of yours.
22:14
Keith: Exactly.
22:15
Suze: I don't know what I think about that. Obviously we hear these
22:19
Suze: jobless reports all the time. They affect the market, then
22:23
Suze: they reevaluate them. However, AI is, in my opinion, and
22:28
Suze: you know, is having an effect,
22:31
Suze: on jobs, certain jobs, and things that are going to
22:34
Suze: happen in the future. One thing that I want us
22:37
Suze: to address, and it comes a little bit off topic
22:40
Suze: of the stock market...
22:42
Suze: Are parents writing in to say, I don't know where
22:45
Suze: to get the money to send my kid to a
22:47
Suze: $65,000 a year school. Suze, what do you think about it? Now,
22:53
Suze: I've told everybody my opinion about what I think about
22:57
Suze: colleges today, not necessarily years ago, but today, especially if
23:03
Suze: you have to go into debt to send your kid
23:05
Suze: to college. What would you tell them, Keith?
23:08
Keith: Oh my goodness, you know, my advice has changed considerably
23:11
Keith: over the years as well. You know, I grew up thinking, oh,
23:14
Keith: I gotta go to college, and this is what's expected
23:16
Keith: of me, blah blah blah. If I had a do-over
23:18
Keith: right now today, the first thing I would do is
23:21
Keith: encourage my children, my unborn grandchildren, learn a trade, learn
23:24
Keith: which end of a hammer works, figure out how electricity functions.
23:28
Keith: Because that's the stuff that is really worth bank and
23:32
Keith: you can go to the job market all day long
23:35
Keith: and look for computer skills and AI and this, all
23:37
Keith: of which is replaceable and or fungible, but what you
23:41
Keith: can't do is replace the electrician who knows how to
23:43
Keith: put the wires together, the person who knows how to
23:45
Keith: build the house, the person who can move the oil
23:47
Keith: rig around, those are, you know, the truckers. Everybody thinks
23:50
Keith: those jobs are gonna go away.
23:52
Keith: but they're not. In fact, they're gonna become more integral
23:54
Keith: and more valuable. So no, I would, I would have
23:57
Keith: a hard time arguing for a $65,000 a year school,
24:01
Keith: but instead prefer to see my kids, grandkids, other kids
24:06
Keith: I see out there go learn a trade, go into
24:09
Keith: doing a job that is worth something because that's how
24:11
Keith: you're gonna get ahead.
24:13
Suze: Yeah, so I think all of you out there are
24:16
Suze: starting to understand, if you already don't, the times are changing, everybody.
24:21
Suze: The government can't save you. They can't even save themselves,
24:24
Suze: as you've heard me say, right? You can take action
24:29
Suze: today to protect your tomorrows, and it is not just
24:32
Suze: about what stocks you should buy. It's really, where do
24:36
Suze: you buy those stocks? Do you buy them in a
24:38
Suze: Roth retirement account? You better be. Do you have a
24:41
Suze: will and a trust and all of those things in order.
24:44
Suze: Are you going to be mortgage-free by the time you
24:47
Suze: retire if you're going to keep your home? All of
24:50
Suze: those things make the total picture of, are you going
24:55
Suze: to be enjoying your retirement years? Cause I can tell
24:59
Suze: you right now, you can do everything great with the
25:02
Suze: stock market.
25:04
Suze: But if you don't have everything in place, all of
25:08
Suze: a sudden you go into a nursing home, something happens,
25:10
Suze: there goes all your money, cause you're gonna have to
25:13
Suze: sell in order to keep yourself. Do you understand what
25:15
Suze: I'm saying to all of you? So the two of
25:18
Suze: us together, bring a perspective of your total financial well-being.
25:26
Suze: Which is why really, Keith, I love having you on
25:30
Suze: because I want them to hear it from you as
25:33
Suze: well as from me. Anything else you want to say
25:36
Suze: before we end?
25:37
Keith: No, just that you're very kind and thank you to
25:39
Keith: everybody who's spending a moment, because
25:42
Keith: change is always an opportunity. It's scary, but when you
25:45
Keith: really look at history, change produces innovation. Innovation produces profits,
25:50
Keith: profits and all of that are this big comprehensive, dynamic,
25:54
Keith: exciting picture that believe it or not, improves our lives
25:57
Keith: over time.
25:58
Suze: All right, so, until next week, there's really only one
26:02
Suze: thing that we want you to remember when it comes
26:03
Suze: to your money, and it is this people first, then money,
26:08
Suze: then things. Now you stay safe. Bye-bye, everybody.