Fox News Channel personality Eric Bolling is no stranger to high pressure situations. As former pro baseball player and commodities trader, he has been in plenty of tough spots over the years.
But regardless of the conditions, he says, achieving success is pretty simple: don’t quit.
“I was and am a very driven person,” Bolling said about his time in the New York Mercantile Exchange trading pits and his current role on Fox News. “Never quit, my mom’s last words ever.. I’ll never forget and I’ll never quit!”
Bolling currently serves as co-host of The Five, Fox News Channel’s talk show about current events that airs weekdays from 5 to 6 p.m. EST. The Five is a roundtable opinion program featuring an ensemble of five rotating network personalities who discuss and debate the hot issues across the spectrum from politics to pop culture. The hosts also conclude each show by selecting a topic of their choice for the “One More Thing” segment.
Bolling also hosts financial news and advice program Cashin’ In on Saturdays from 11:30 a.m. to 12 p.m. EST on Fox News. The show takes a practical hands-on look at all aspects of personal money management from 401K plan investing to purchasing real estate to saving for college tuition
And for the first time ever, Bolling will try his hand at hosting Fox News Channel’s New Year’s eve special, “All-American New Year,” alongside The Five co-host Kimberly Guilfoyle. Among other things, the show will feature a live appearance by Republican presidential front-runner Donald Trump. The special kicks off at 9 p.m. EST.
I caught up with Eric Bolling recently to ask him about his thoughts on investing and finance in the New Year, and how Americans can put themselves in a position to succeed:
Q: If someone is looking to start 2016 on the right foot financially, what are one or two pieces of straightforward advice you’d give them to finish the year in a better position than where they are right now?
A: Shred your credit cards.. The cost of borrowing will rise next year, guaranteed! That’s because the Fed raised the rates for the first time in seven years last month. That’s a direct increase in cost of borrowing to you. Your savings rates won’t budge unfortunately. Also, watch Fox Business Network. They are now the “go to” business network to guide you through the tumultuous financial seas.
Q: A lot of Americans just don’t have the means for college or a house or a car without a loan. How do people find the right balance between living within your means but also using debt responsibly to improve your lot in life?
A: Use debt as sparingly as possible. It’s a killer to finances. Period.
Q: Countless studies show Americans of all ages are woefully unprepared for retirement. Why is that do you think? Is it behavioral, or structural based on economic factors?
A: Certainly behavioral. It’s astounding how many Americans are awful with math. Finances are simple math. Get a handle on spending, and behave accordingly. I just can’t believe how many people are expecting handouts and bailouts. They aren’t coming… sorry.
Q: The bull market is coming up on its seventh year in 2016… you think it’s going to last? If not, will a correction be brief or will all heck break loose?
A: I recently sold out of all my holdings with the exception of Apple (AAPL). I am worried about a correction.
Q: Both Fox News and Fox Biz have hosted presidential debates, with plenty of fireworks. What’s your opinion on how much financial and economic issues will influence the 2016 race instead of things like social issues or national security?
A: I love the debates.. I’m a politics junkie so I don’t care what the topic is, I’m tuning into the debates. I would like to see the candidates pressed on their financial ideas. Many don’t add up but the way they explain tells me a lot about their character.
Jeff Reeves is the editor of InvestorPlace.com and the author of The Frugal Investor’s Guide to Finding Great Stocks. As of this writing, he did not hold a position in any of the aforementioned securities. Write him at editor@investorplace.com or follow him on Twitter via @JeffReevesIP.
