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CNN Live At Daybreak
Dollars & Deals: Investing for the Future
Aired August 01, 2003 - 06:17 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for "Dollars & Deals" with the man who knows everything when it comes to saving you money, our consumer guru Clark Howard. This morning, Clark has a plan for investing for your future.
(BEGIN VIDEOTAPE)
CLARK HOWARD, CONSUMER ADVOCATE: This morning's question is from Bob in Weehawken, New Jersey.
And, Bob, you just came into an inheritance. You want to make sure you invest it wisely. Your 401(k) plan, well it took a beating. You want to know where do you actually find the good investments.
First, I want to express my sympathies to you on the loss of a loved one that led to the inheritance.
Now in taking that inheritance money and putting it aside for your future, I want you to think in terms of time. If you are putting that money aside for five years or less, that's not investing, that's saving. You got to stay away from the stock market and things like that. You start moving further and further out from five years, then we can talk about investing your money for the future.
Your 401(k), it's true, over the last several years it may have become a 201(k). Your money may have been sliced absolutely in half. But that's OK, that's the way the stock market works. It works in big moves up and down. So I want you to know that you should not worry about what happened just in the last little while.
If your investing period is long term, I want you to look at investing this inheritance well spread out. I love total stock market index funds. That's where you put little teeny slices of your money in stocks all across the stock market. Want for you to look at putting a little bit of your money in stocks overseas. And as long as you've got a long, long time for your money to grow, don't worry about what happens in the short term.
(END VIDEOTAPE)
COSTELLO: Clark will be back next Friday with more "Dollars & Deals." E-mail us your consumer questions and of course we'll pass them along to Clark. Just visit our Web site, CNN.com/DAYBREAK.
In the meantime, you can get Clark's money saving tips on the Web. The address, ClarkHoward.com.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired August 1, 2003 - 06:17 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for "Dollars & Deals" with the man who knows everything when it comes to saving you money, our consumer guru Clark Howard. This morning, Clark has a plan for investing for your future.
(BEGIN VIDEOTAPE)
CLARK HOWARD, CONSUMER ADVOCATE: This morning's question is from Bob in Weehawken, New Jersey.
And, Bob, you just came into an inheritance. You want to make sure you invest it wisely. Your 401(k) plan, well it took a beating. You want to know where do you actually find the good investments.
First, I want to express my sympathies to you on the loss of a loved one that led to the inheritance.
Now in taking that inheritance money and putting it aside for your future, I want you to think in terms of time. If you are putting that money aside for five years or less, that's not investing, that's saving. You got to stay away from the stock market and things like that. You start moving further and further out from five years, then we can talk about investing your money for the future.
Your 401(k), it's true, over the last several years it may have become a 201(k). Your money may have been sliced absolutely in half. But that's OK, that's the way the stock market works. It works in big moves up and down. So I want you to know that you should not worry about what happened just in the last little while.
If your investing period is long term, I want you to look at investing this inheritance well spread out. I love total stock market index funds. That's where you put little teeny slices of your money in stocks all across the stock market. Want for you to look at putting a little bit of your money in stocks overseas. And as long as you've got a long, long time for your money to grow, don't worry about what happens in the short term.
(END VIDEOTAPE)
COSTELLO: Clark will be back next Friday with more "Dollars & Deals." E-mail us your consumer questions and of course we'll pass them along to Clark. Just visit our Web site, CNN.com/DAYBREAK.
In the meantime, you can get Clark's money saving tips on the Web. The address, ClarkHoward.com.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
