Last week, Babble had the opportunity to participate in an Oprah-sponsored blogger
q&a with financial guru Suze Orman, on whom our editors have an
unrepentant crush, leopard-print blazers and all. Below, highlights
from our conversation about college savings, credit card debt and how
to change your financial situation in an hour or less. -- Gwynne Watkins
Babble:
One thing that comes up in discussions on our message boards
is that cash-strapped parents are torn between saving money to their
retirement funds and saving money for their children’s college funds.
Which would you say should be a priority?
Suze Orman:
Now,
without a shadow of a doubt, the parents’ retirement account. Forever
I have been saying you cannot get a loan for retirement, that’s number
one. Number two: There are today, because of the economic situation
in the United States, you’re going to see over time staffer loans,
which are loans for kids going to school, whether they’re subsidized,
which you need financial aid for essentially, or unsubsidized. You’re
going to see interest rates be relatively low on those loans.
Read More...
