Home: Talk early and openly with your spouse about money. Get comfortable with the topic. “I refuse to believe that the man in your life does not want you to know. He is probably just as afraid as you are right now,” said Orman.
Real Estate: New York will not be hit as hard by the sub-prime collapse. Most buildings are co-op and require a minimum 50% deposit; there wasn’t as much sub-prime lending here as in other states.
Younger women: 401K. Stick with it. Don’t touch it. The more stock prices go down, the more shares you are buying each month.
Eradicate credit card debt: No employee of Orman’s is permitted to have credit card debt. Pay it off now. Don’t put it off.
Buy a home: Pay off the mortgage as soon as you can. “There’s no better investment than a home,” said Orman. Most homes appreciate 4 percent in value every year. In the next four years, some 2.2 million Americans are going to foreclose. Start saving now so you can jump in to swoop up one of those houses.
