Suze Orman
Appearances
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Oh, my dear fool, Mr. T. You're not a fool. You're not a fool, sweetheart. You're not a fool. You're brave.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So here's what I would do, really, if I were you. There is no reason for you to keep it in this policy anymore because there are fees in this policy. It just doesn't make sense. Never did, never will. Therefore... You cannot take the $4,000 loss off your taxes. Fine, no problem. But if I were you, I would surrender it now. Get $15,000 will not be taxable to you because you didn't make money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
and take that $15,000 and then take it to your primary financial institution, Fidelity, and just start investing it on a value cost averaging basis or dollar cost averaging basis in either ETFs and or individual stocks and just make it up that way. Remember,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
In an annuity, in this life insurance product, when you were going to take money out, chances are you'd have to pay ordinary income taxes on it. So you would have lost the gain possibly if it went above what you put in in taxes anyway. When you are going to invest it now and put it in ETFs and stocks, while they're in there, you're not going to be paying any taxes. It's tax deferred.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And if you eventually sell them and you've had your money in there for longer than a year, you'll pay capital gains. So that's what I would do if I were you. I would get out, out, out, young Mr. T. Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I'm telling you, you are. I'm looking. Stop it, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I know. I'm so sorry.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And there's a whole financial list of what she's got. But not bad. Not so bad. All right, here's what I would do, Karen. Make it a quizzy. I'm not making, I have your quizzy. Oh, all right, because I know the answer. I know the answer. To here? Yeah. What's the answer? Do it. Ah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
No, it means that you're bleeping, bleeping, bleeping. I'm not bleeping you, I'm blinking you. Wait, but Blinking KT and Suzy Anything Show, which means if you have a question and you want to write in and if KT chooses it, it will be on the podcast. Write Ask Suzy, S-U-Z-E podcast at gmail.com. And there you go. All right. What
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I can't even believe it. You're a little thingy today. You're like, what are you, a little twitchy?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
A little speedy. All right, so- Good coffee. So, Karen, here's what I would do. I would continue to do everything just like you are doing it. Once he loses his job-
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Then I would go and take the $80,000 out of savings, because I see you have $335,000 in savings, but take the $80,000 out of there and pay off the mortgage at that point in time, but not now, because we don't know that he's going to definitely lose his job. So you can always pay off the mortgage, but But why not let the $335,000 grow and make a nice interest rate?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Because your mortgage balance is just going to continue to go down. So until he loses his job, keep everything a status quo. If he does lose his job, then take the $80,000 out of savings and pay it off.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I was partially right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
You were wrong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
But here's the big question. No, it's not a long time. For term? Most people buy term policies for 20 or 30 years. They don't buy it for a short period of time because they want their premiums to stay stable for the entire term. So that's normal.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
KT. Yes. am I going to do, everybody? Can you just tell me? What am I going to do? Anyway, so, Colleen, what can you do to keep it? Just keep paying your premiums. There was a reason why you originally got a $150,000 term policy. Chances are you got it 20 years ago when somebody was financially dependent on you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And now there's nobody financially dependent upon you if something, God forbid, were to have happened to you. So if you don't need it anymore. then just stop paying for it. Or there are companies that will buy a term life insurance, viatical companies is what they're called, right? That will buy them from you, even if they are term policies. Haven't you been watching TV?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And when you watch it, there's these people that are like in a mine and people above them are like hearing noises and they're saying they don't even know they're living in a gold mine. But anyway, those are advertisements for people like you who want to sell those policies. But I have to tell you the truth. I don't know the name of any companies because it's not really something that I believe in.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
It's just chances are you're going to end up just stopping to make the payments, right? But remember, you got that term policy knowing that it was going to end with absolutely no value whatsoever. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I think that you do have to pay a penalty if you're 30 years old and you're... Sam, the thing you need to know is no. There is no penalty. There is no tax because with a Roth IRA, you can take out your original contributions anytime you want without taxes or penalties, regardless if it's been in there less than five years and if you're less than 59 and a half years of age.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I've said it over and over and over and over again. And KT is looking at me like it is the very first time she's ever heard that. That is besides the point. So no, there is no tax or penalty owed because he put in $18,500 of his original contributions. He only took out $1,700. No taxes or penalties whatsoever. All right, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Wait, you've already blown two quizzies.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Ding, ding, ding, ding, ding, ding, ding, ding. Right. So, oh good. I'm so glad because she's always so upset after these podcasts are over.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
You said it in your email, which is hard to know what my return will be on my investments. I know the markets have been going up. And it makes you go, oh my God, I'm missing out. I'm so upset I didn't participate. Oh my God. However, it could be the other way as well.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
For everybody. It came out on February 18th, right? That was two days. Yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I always give the example of 2007, 2008, where you decided, you know what, I'm going to take my money that I should be paying down my debt with. and investing it. And then you've lost all of it, almost or 50% of it, and you still have the debt. The truth is, it depends what kind of debt you are talking about. If you are talking about credit card debt at a high interest rate, pay it down.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
If you are talking about student loan debt, that is at a high interest rate, pay it down. If you're talking about mortgage debt, that's at 2%, and you can easily pay that, invest. So it depends what kind of debt, but chances are, since you didn't say mortgage debt, you just said debt, pay down your debt.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And then you'll have even more money to invest with the payments that you were paying on that debt. Do you have time for one more? One more.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Butchering. Yeah. This should be the title.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Some things are too good to be true, Maria. How much you want to bet me that Maria actually divorced her husband? Because she was the one making the money and she was the one good with it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I don't know. I don't know.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
No way did he earn this money. Because if he earned it, he probably went to lost it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Right. So let me tell everybody about pig butchering. And it really is a type of online investment fraud that's really very rampant. And this is where people... They manipulate their victims really into investing in all these fake ventures. And usually it's in cryptocurrency. And the term comes from KT in that, you know how you fatten up a pig before you slaughter it, right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
It's pretty. Well, if KT likes it, that's a good enough reason why you should all go out and get it. But truthfully, everybody, we did redo the book and we did do all the updates because there were so many. So many. It's like a new book. It's like a new book. Venture into, once again, The Ultimate Retirement Guide for 50 plus.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I know she's looking at me like, don't say that, but it's true. That's what they do here. So they fatten up, so to speak, their victims by building trust over time. making their money go up and up and up. And then they, in essence, slaughter them. And that's what happens. And they do that by stealing their money. And they all, oh, I can go more and more into it. But it originated, KT, in China.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And it's now all throughout the globe. So when something seems like it's too good to be true, it is.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
I was just going to say that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
But you want to know something, everybody. The house that we live in, in the Bahamas, The reason that we were able to buy the land that we built this home on is that there was a woman who owned it. This was the premier lots on this island. It had a big house, blue house on it. And she not only owned this, but she owned two other lots as well. And so there was like a fire sale on these lots.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
And so we just bought them because it was like, I'll take those.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Buy it now before Monday, before everyone else knows about it. But it's because she lost all of her money to Bernie Madoff. He had gone to her kids' weddings, everything. So when it sounds too good to be true, it is. Don't go for these huge returns. And a lot of you are going to say, yes, I know, Susie, but Palantir sounds too good to be true.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Although the difference between something like that and these other things is you have control of the money. You can buy and sell anytime you want. Nobody else is holding that money for you. It's in your name at a brokerage firm. So it's yours and you can cash it out anytime you want. Now, I have the hard job of Sunday following last Sunday's podcast, which everybody loved with Mr. Fitz.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So anyway, we'll have to see what we come up with. But we will have him as a guest once a month or so, so we can have his energy and discuss things that you need to know. But until then, there's only one thing that we want you to remember when it comes to your money, and it's what, KT?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Now you stay safe and healthy because there's a flu going around. Bye-bye.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
This is going to be one of those podcasts. All right. Shake your head.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
But Lydia, I just want to say this to you and everybody listening, which is this. What is it when you finally turn that switch on? What happens? Because so many of you seriously are still like, I don't want to go there. I don't want to do it. I don't need to know. And so it'd be so fascinating to be able to harness the answer to that question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
What triggered you to want to be involved with your true financial life support system known as money? Next question, Katie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So, Joanna, here's what you need to know. First of all, when you have an ETF or any dividend-paying stock, even if it's an individual stock... You get to choose, do you want to reinvest the dividend so it buys more shares, or do you want the dividend passed out to you, distributed to you for income? Either way, you're going to pay tax on it, but you get to choose one way or the other.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So it's not like the ETF automatically does that. You get to choose. Now, let's just quickly look at the advantages and disadvantages. For an ETF, the truth of the matter is you're doing it very passively. They're choosing all the stocks, they're doing everything for you, so you have less risk with that. And if one of the companies in the ETF happens to reduce or cut its dividend,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
That's not that big of a deal because of how many stocks you probably own. The disadvantage is that you will get a slightly lower yield because all ETFs have an expense ratio. Individual stocks, on the other hand, you get to directly control which companies you want. They pay you directly and
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
However, there is a higher risk because if one company reduces or eliminates its dividend, you're kind of stuck with that one stock. So if you want passive income and less risk, do the ETF. If you enjoy researching companies and managing stocks, do individual stocks. It's just that simple. Or do a combination of them both. All right, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Yeah. Let me tell you all something about the must-have documents. I don't care if you bought them in the year 2000, 2005, 2010, 2015, 2020 or this year. The purpose of those documents is for you to protect yourself. And if you bought them and you haven't used them, of course, it's still valid.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
But the good news for you, Jackie, is that truthfully, when you go on, it will say update and it will update it to the current ones that are brand new and out this year. So it's just that simple. And if you lost your code or whatever, just call the helpline and they will help you. So unlike any other program out there that every time there is an update, buy it again, buy it again, buy it again.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
It was done so that you only needed to buy it once and and you never need to buy it again. Therefore, if you don't have it yet, go to musthavedocs.com and you can get a will, a living revocable trust, an advanced directive, and durable power of attorney for healthcare, as well as a financial power of attorney, all for $99. $2,500 worth of state-of-the-art documents. Are you kidding me?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
All right, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So very difficult. So Colleen, my love, first of all, as KT said, our love does go out to you. But I've always had a rule of thumb that you are to do nothing with money other than keeping it safe and sound for at least one to two years or longer after suffering the loss of a loved one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
You are a little bit over one year of suffering that loss, but you are still in deep grief about losing your husband. Therefore, you should not do anything with that money. And I mean anything. Maybe if you wanted to get out of credit card debt or pay off a mortgage or something like that, okay. But I would not be investing any of it right now until you no longer feel that you're in deep grief.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So all right, you have a million dollars in a money market account. Okay. You have $150,000 in an advisory account. If the financial advisor happens to call you and say to you, hey, you know what? there's a good thing you should do with money. Let's take some of that million and do it. You are to say no, absolutely not.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
You still want to play with the $10,000 that you have in your Fidelity account. Okay, I don't have a problem with that. But the goal of money is for you to be secure. And the mere fact that you wrote me this question, how many times have I said to all of you, you don't ask me a question like this without already knowing the answer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So there's something about this that makes you feel uncomfortable, maybe with the brokerage firm, maybe whatever, I don't know. but I would not be investing any other money at all until you are no longer in deep grief. You are even no longer in shallow grief, but that you're feeling more in touch with who you will need to become. All right, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So don't ask me why that we're a year and a half almost into when this was passed and these brokerage firms still don't want to offer them. I can't understand why that is. So there are some firms that are offering them, but they're not big name firms. So I would be hesitant to recommend them to you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
But all of you should start complaining to Vanguard, Schwab, Fidelity, all of them and say, what the heck is a matter with you? It's legal. You should be offering them. Why aren't you? I've tried and I can't get an answer from them. So maybe in mass, if you were all to write them, maybe we can change it because there is no reason in the world that they're not offering them. But sorry about that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So aggravating, Katie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Don't aggravate me. KT, it's a year and a half now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
They have SEP IRAs. It is not a big deal to switch it to a Roth SEP IRA. Do not give them excuses.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
They're all just not wanting to do it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
All wise, all wise, Suzy and Kate T. Whenever a man starts with a kind of a wise thing, it's because he's done something that he knows I'm going to yell at him about.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Mr. T-
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
February 20th, 2025. Welcome everybody to the Women in Money podcast and everybody's smart enough to listen. Today is Blinking KT. Stop it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Well, that's a death benefit. That's not a big deal.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
That 3% or $36,000 a year is an approximate 8% a year return on a $450,000 investment, which would be your lump sum. What's interesting about that, even though that's totally taxable to you, and even though there isn't a cost of living increase on it, it's not like it will go down either. It's not like you will have any risk to that money at all.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Now, remember, if you take a lump sum and you roll it over to an IRA, so it's not taxable to you, Even if you just assumed a conservative 5% return on your money, that's going to generate for you about $1,800 a month. $1,200 a month approximately less than the $3,000 from your pension. And that's without depleting your principal.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Now, maybe you could get a 7% return, which would give you about $2,600 a month. But you have to remember, Ellen, those returns are not guaranteed. The $3,000 a month return is guaranteed for your life, for your life. Now, of course, we could take into consideration inflation and what that will make that $3,000. But who cares about that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Because truthfully, you have other investments that could make up for that as well. So it depends. Do you feel capable of investing $450,000 to generate income for yourself? What if you had taken the $450,000 a few years ago and interest rates were down to 0.06%, 0.01%? The markets weren't doing so great. Do you see what I mean, Ellen?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So there are things you can't always assume you're going to make a 4% or 5% return on your money or more unless you put it in like a 20 or 30 year treasury bond or something like that. The thing that you also have to consider, and I know I'm going long here, but that's because I think you need to know and many people listening are in this situation.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
is that when you do an IRA rollover with it, you're going to have to start doing required minimum distributions sooner than later. And you do not say anywhere in here how old you currently are. Therefore, I don't know how many years you are away from RMDs. And when you start taking required minimum distributions out, the balance most likely in your IRA starts to go down and down and down.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So you can't count on always having $450,000 in there. So what should you do? When I don't know what to do, I kind of do both. What do I mean by that? You could take a lump sum, go over into an IRA with it. And within the IRA, you could possibly purchase an annuity with half of it, like $225,000 in income annuity that gives you a guaranteed income for the rest of your life and invest the other.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
But if you're confident in managing your investments, then probably the lump sum would be a better choice. But if you value your security over growth and don't want to take any market risk, then the pension might be better. But if you're still undecided, you can do a partial annuitization strategy like I just said. Anyway, now you know. How was that, KT?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I can't believe that the Kansas City Chiefs lost. So let's not talk about it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Honestly, if I probably had to choose one or the other, I can tell you, and I had nobody to leave money to, didn't matter, nieces, nobody, dogs, pets, anything, nobody, nothing, no KT, I would probably take the pension. especially because she has other money invested. She has a 403B, she has a Roth, she has all of those things that she's maxed out every year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So she already has a portion of money. And she said in here that the $3,000 a month for plus Social Security, she wouldn't have to touch the other money. And she's quite anxious. So therefore, she wouldn't be anxious, just living on what she knows she has.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Hello, Renee.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
That's SIPC.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Whose birthday is it, Susie? So, actually, this is a birthday of a kind of strange birthday. Julie and Lori. Julie and Lori's birthday is today, right? Don't you love that? I do.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
All right, what should she do? So the truth of the matter is, Renee, most of our money is in one financial institution, even though it's two separate accounts. So here's what you need.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I'd say so. But it's still a seriously large account.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah. Are you proud of that? Yeah. Did you ever think you'd have that much money?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Okay, not me, but all right. I never in a million years thought,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I did, didn't I? Anyway, what you need to know, Renee, is that while it's true SIPC covers $500,000 per customer, and I believe it's a limit of $250,000 for cash also that's held in your account, All the brokerage firms have what's called excess SIPC insurance. And I'll just talk about Schwab for right now, because a lot of you have accounts at Schwab.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Schwab, its excess insurance is purchased from the Lloyds of London. And they have an additional coverage that provides protection for securities and cash KTE. up to an aggregate of $600 million. So for everybody, if you have an account at Schwab, in the unlikely event that the firm goes broke, it will cover your money. But if you have money that you invested and
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
and the money has gone down in value, it does not cover you for market losses. You just have to know that, okay? So there you go. All right, KT, next.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So anyway, we want to wish you the happiest of birthdays. We are so happy that you are in our lives and that we're kind of becoming one, so to speak. But anyway, happy, happy birthday. Have a great day.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I'm so tempted to say, KT, when, like one of the questions from last Sunday, when is it best that lump sum investing performs better for you? When a stock does what? When it rises, when it's on the rise. That's my girl. Yeah, I learned all that, everybody. So Judy, here's what you need to know.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Since your account is at Fidelity, I happen to know that by default, Fidelity, when you put in an order and it asks for a dollar amount, it defaults to a FIFO method. What's that? I knew you were going to say that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
It is. Right. FIFO means KT, first in and first out. So the oldest shares, which were the first ones you bought, are the first ones to be sold. So Fidelity automatically does that for you. And it's just that simple.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So you don't have to be worried about that. Because when you put in a dollar amount, and that's all it's asking you for at Fidelity, they're going to sell your oldest shares first. Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Well, the truth of the matter, what's happening here, KT, if it was $1,200 totally last year, and now it's $150 a month this year, so that's $8,000.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yes, it's high. It's absolutely high.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So you can't avoid it if you're going to participate in the 401k. All right. Now, that is like a 0.51% fee. That's a lot. It's a lot. That's really high. Usually it's 45 to 80, but that's why you might just want to contribute up to the point of the match in the 401k and then go and open up a Roth IRA and contribute the rest there or whatever it may be. However, what your husband should do
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
is go and ask his employer if they allow partial distributions. What does that mean? Many 401ks allow you to take up to either 50% of the value that's in there, sometimes only $50,000, and do a rollover with it if you want into an IRA rollover, all right? And If you were to do that, you would bring down the balance of the account that is in there.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
And therefore, that fee of about half a percent, okay, is now being charged on less money because it's out of there. And so that's what I would do if I were you. Okay. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah, it's funny. The very last thing that Ray says is that there's no way to roll over this money until he quits his job, correct? Ask if the company allows a partial distribution.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
A lot is dependent on the 10-year treasury. It influences mortgages. You've heard me say that before. Corporate bond. All kinds of things. Borrowing costs, debt, everything. Raises the interest rates on credit cards. So our economy... is influenced by, are you buying a house? Are you not? Are corporations borrowing money so that they can grow more? All those things matter.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Also, one of the main indicators of are we a healthy economy or are we in a recessionary economy that's to come is is something called the inverted yield curve. And we talked about this a lot. And this is where the two-year treasury rate is compared to the 10-year treasury rate. And if the two-year rate is higher than the 10-year rate, then
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
then that is a strong predictor that a recession is coming, which is the economy. So people watch the 10-year for all of those reasons, right? So when rates go up, remember, borrowing becomes more expensive, and then that slows down growth. and bonds become more attractive, which could affect the stock market as well.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
But that is why everybody watches the 10-year, because it's involved in so many of those indications. All right, so you ready for your quiz?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Wait, wait, wait. Let's ask everybody. Will you be our valentine? Wouldn't that be great if we had tens of thousands of people being our Valentines and we're theirs?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Because are you done?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Oh, that's so sweet because you don't want me to go. I know. Here's your quizzy, right? How much does Susie love you?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Although that's not how I would have answered the question. How would you answer? More than all the molecules and atoms in the world.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
And there's only one thing that we want you to remember, and it's this. People first. Then money. Then things. Now you stay safe. See you soon. Bye-bye.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I bet everybody wanted you to be their Valentine.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
No.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
The only thing that I remember about Valentine's Day that I loved more than anything was the little Valentine hearts that had those little sayings on them.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I loved those so much I can't even tell you. All right. KT, though. What questions? And by the way, everybody, as KT told you, this is Ask... Did you say it was Ask KT and Susie Anything?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
But that's different than... Anyway, it doesn't matter.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
For those of you who want to write in a question to AskSusie, S-U-Z-E podcast at gmail.com. And if, if KT chooses it. We will ask and answer it on the air. Okay, go on, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Benjamin, yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
That was in the year 2010, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So we said, let's go do it. And we did. It was great. We had a fun wedding. Here's the thing. KT, what would you say to Benjamin? Should he have joint credit cards and a joint checking account?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So Benjamin, here's what I would say to you, pay things according to the percentage amount, which is something you understand. So remember, everybody, it's never about equal amounts of money. It's about equal percentages. And if you don't know what I mean by that, Look it up on the community app and go to the podcast that I talk about that in. However, personally, I would not join credit cards.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I would each have your own individual credit cards as well as checking accounts. When we say that everything is separate, everything is separate between us except real estate, which is in joint tenancy. that's it. And cars. And cars, right? But the boat is Susie's. But the boat is mine. But I don't have to worry about, is she balancing her checkbook? Is she overdrawn? Is she not?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Everything, we're both independent, responsible for our own accounts. That way, in case it doesn't work out, I'm not saying that, but just in case, then it's so much easier. Because how many times have I heard a case where you had a joint checking account and one of the spouses wiped it clean?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
One of the spouses charged up the credit cards galore and then just took off and the remaining spouse was responsible for it and on and on and on. So therefore... That's what I would tell you. In terms of term life insurance, especially since Taylor is an emergency room doctor, he knows very well that life is very fragile. So term life insurance isn't necessarily just for the kids.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
It's you have to put yourselves in the situation that if you were to die, Benjamin, today, or if Taylor were to die today, would you be okay financially? If both of you would be okay financially, then really there's no need to get term insurance. However, I have to say at 35 years of age, you you could get a million dollar term life insurance, maybe 5 million for 50, 100, whatever a month.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
And given that you're making a nice sum of money, I would do it just to do it. Because you just never know. Congratulations, my dear Benjamin. All right, KT, next.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Here's the bottom line, truthfully. It's not how much money you have. It's more important, what are your expenses? Because if your expenses can be very, very low... then you don't need as much income. It's not about how much money you make. It's what are the expenses that you have that you may need more money to pay. You said the key here, which is you finally bought a home last year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So the question becomes, did you do it with a 30-year mortgage or a 15-year mortgage? Because in 30 years, God willing, you'll be 87 years of age. That's a long time to have to be paying a mortgage. 15 years from now, you would only be 72, which is one or two years younger than we are right now. So what I would be doing if I were you,
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Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Any extra money, if you can afford this, any extra money that you make. And I think as a teacher that's getting the teacher disability, I think you're allowed, depending on where you live, to make anywhere between $15,000 and $25,000 per year. So not bad. Maybe you're making besides the $2,500 a month for the rest of your life when your son turns 21.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
then maybe you're making another $2,000 a month or something like that, plus whatever your husband is making and whatever is in his 403B account. So the question becomes, are you better only contributing up to the point of the match in your husband's 403B or Because the truth of the matter is you're not in a very high tax bracket, I have a feeling.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
And taking that extra money and putting it towards what? The mortgage on your home so that by the time you really do have to stop working, you own your home outright. If you own your home outright, your disability check or plus whatever your hubby will be getting in Social Security, plus the money that's in the 403B will probably serve you very, very well.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So your key is to reduce any possible fixed expenses that you have so they're not there by the time you retire. And that will help you dramatically. That is my advice to you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
KT just handed me, Ellen, your email. Now, everybody, you have to get this. When you write a long email, we're not going to tell all the facts and figures that you've written. We may not even read it when it's too long. So KT just highlighted what your question happens to be. But as I'm reading your email to myself right now, you only use the word, I feel. I max out every year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
You do not say we anywhere. You do not mention anywhere in this email that you have a partner, meaning a spouse. You say that you're going to get a $3,000 a month pension. And I have a feeling that because you didn't say it was a 100% joint and life and survivor benefit, which means... If you die, your partner gets that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
You're probably taking a life-only pension, which gives you the highest amount. But it also means that upon your death, because you probably have nobody to leave it to, because it could only be a spouse, truthfully, in most cases, that $3,000 would absolutely go away. So that's something one has to take into consideration.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
The IRS will absolutely aggregate all your pre-tax accounts to determine how much you should pay in RMDs. Again, Roths never pay RMDs, which is why I love them so much. Ready? Withdrawals of only your contributions in a Roth IRA are always tax-free and penalty-free regardless of your age and how long the account has been open. Think about it. A little bit ago, I answered that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
I explained how a Roth works. So this is if you only want to withdraw your contributions, can you always do so tax-free and penalty-free regardless of your age and how long the account has been open? Can you? The answer is yes, you can. That is again, I'm driving this point home because that is again why I love Roth IRAs so much. Next, I'm 60 years of age and I opened a Roth IRA three years ago.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
If I take out my earnings, I'm not talking about contributions now. If I take out my earnings, remember the five-year rule, everybody, will I have to pay taxes and the 10% penalty on my earnings? Yes or no. The answer to that is a little tricky, right? You will have to pay taxes on your earnings, but you're not gonna have to pay the 10% penalty, because you are over 59 and a half years of age.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So what I want you to take away from that question is, Once you turn 59 1⁄2 years of age, don't ever again, when withdrawing money from a retirement account, worry about the 10% penalty. It doesn't matter what the rules say, whatever. You are 59 1⁄2 years of age or older. And therefore, the 10% penalty does not apply. However, the five-year rule will apply for earnings.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So the account has got to have been opened for at least five years for you to also withdraw the earnings tax-free. Even if you deposited everything two years ago, if the account had been open for at least five years, it qualifies. Open your Roth IRA today. Got that, everybody? Okay, we're almost there.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
In a non-eligible designated beneficiary inherited Roth IRA, the account has to be wiped clean in 10 years. Do you all remember the difference between an eligible designated beneficiary and a non-eligible designated beneficiary when it comes to retirement accounts?
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Ask KT & Suze Anything: A Roth Quizzy For You
Almost all of you are going to be non-eligible designated beneficiaries unless, of course, you are a spouse, you are a minor child until you turn the age of majority, you're 10 years younger than the owner of the IRA, or you are disabled, that makes you an eligible designated beneficiary. And essentially, you have the same rights as if you were the owner, really.
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Ask KT & Suze Anything: A Roth Quizzy For You
However, a non-eligible designated beneficiary, a child, most of you, are governed by certain laws. But this is a Roth IRA I'm talking about here. So in a non-eligible designated beneficiary inherited Roth IRA, does the account have to be wiped clean in 10 years? And the answer to that is yes, it does. They are not going to allow you to continue to accumulate growth tax-free. Now, listen to me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
If this was a traditional IRA, it has to be wiped clean as an inherited traditional IRA within 10 years as well. But because it will be taxable to you in that situation, you want to start taking it out year by year by year. So in the 10th year, it's almost all wiped out. In a Roth, you would let it accumulate for all 10 years and grow and grow and grow.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Because when you take it out, it's all going to be tax-free. So you would be taking advantage of the tax-free status of that account. All right, little trick one here. I have $200,000 in my 401k at work, and I want to convert it all at one time to a Roth 401k. Is this smart? I still have at least 20 years till I need this money. Is this a smart thing to do, everybody? Yes or no.
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Ask KT & Suze Anything: A Roth Quizzy For You
It is not a smart thing to do. And the key there was all at once. If this person converted all $200,000 at once, all $200,000 is going to be taxable. So why not convert maybe $20,000 one year, maybe $20,000 another, maybe take 10 years to get it in there, or whatever your tax person says you can convert without you really screwing up your taxes, all right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
All right. However, I thought, well, if KT doesn't want to do it, why don't I, since she's not with me today, why don't I give you the quiz that I was going to give KT? Because I have had 18 questions just sitting here waiting until she was ready to do this. So why don't you get out some paper, pencil, whatever it is that you need, and let's see how many of these that you can get right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Next, if I have a Roth 401k that I max out every year, can I also max out a Roth IRA? Can you have, really this question is asking, can you have a Roth 401k at work? Can you have a Roth IRA as well? Could you even have a traditional 401k at work and a traditional IRA if you wanted or any combination thereof? Can you do that and max them all out? Did you write your answer down? The answer is yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
You can max out a Roth 401k. You can also max out a Roth IRA. Next, can I open multiple Roth IRAs in a single year and fully fund each one with $7,000 since I'm under the age of 50? Remember the maximum amount you can put in a Roth or traditional if you're under 50 is 7,000 a year or 8,000 if you're 50 and older. So can you open up three or four Roth IRAs in one year and put $7,000 in each?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Yes or no? And the answer to that is no, you cannot. You can open up multiple Roth IRAs, however, but you can't max out each one. The most you could do is put maybe 2,000 in one, 3,000 in another, 1,000 in another, another 1,000. So it all adds up to $7,000, but that's the max. But it would make no sense for you to have multiple accounts like that. None, if you ask me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Last question is a very hard question. Is there any reason that you should have a traditional IRA or a traditional 401k instead of a Roth? In Susie's opinion. And the answer to that is no. There is absolutely, in my opinion, not one reason in the world you would ever want to do a pre-tax retirement account. For those of you who don't qualify for a Roth IRA income-wise,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
There are no income limitations if you do a Roth at work. So if you are offered a Roth of any kind at work, you should be taking it. You also can always do a backdoor Roth IRA. Just don't have any pre-taxed or really other retirement accounts because then you'll have to do the pro rata rule.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
I can go on and on forever about why a Roth IRA or a Roth 401k, 403b, or TSP, it should be mandatory, especially if you're not making a lot of money. And if you listen to a few Sundays ago podcast, which is about what do you do when you lose a job? it would explain to you why you would have made a big mistake by opening a pre-tax retirement account.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Remember, everybody, you never know what can happen and when it's going to happen. Now, I would love for all of you to post on the Women and Money Community app by going to Apple Apps or Google Play. I want you to post under today's podcast. How many did you get right out of all of these? How many? Tell me how you did. Tell me if this was helpful.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
And hopefully KT will listen to this because I got news there is no way she is going to do a quizzy. And that is her prerogative. So until Sunday, there's only one thing that I want you to remember when it comes to your money, and it is this. People first, then money, then things. And the best retirement account in the world is a Roth of any kind. Now you stay safe.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So this really is now your Roth quizzy time. Are you ready? I'm going to start out easy for you. Roth IRA contributions are made with pre-tax dollars. Yes or no? Did you answer? If you answered no, you are correct. Roth IRA contributions are made with after-tax dollars, and the reason is that's why it gets to be in there and grow essentially tax-free if you meet certain qualifications.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Pre-tax dollars from traditional IRAs. Got that, everybody? All right. Next question. You can still contribute to a Roth IRA for the 2024 tax year until April 15th, 2025. Yes or no? Or it could be true or false. Up to you. Have you answered? You can still contribute to a Roth IRA for the 2024 tax year until April 15th of 2025. That is true. You can.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
You can also do it with a traditional, just so you know. Next, Roth IRAs or Roth 401ks. And by the way, when I say a Roth 401k, or I mentioned a 401k, I also mean a TSP or a 403b, all employer qualified plans. So a Roth IRA is or a Roth 401k currently require RMDs by April 1st after the year the owner turns 73.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So whether it's a Roth IRA or a Roth 401k, our RMDs required by April 1st after the owner turns 73. Yes or no. Why did you answer? That is false. Because RMDs are never required from a Roth account of any kind. That is why I love them so much. A pre-tax retirement account or a traditional IRA, 401k or whatever, you have to start taking RMDs in most cases as
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
out of your accounts by April 1st, after the year you turn currently 73. In a few years, that goes up to 75. However, in a Roth of any kind now, RMDs are not required. Next, if you withdraw contributions, not your earnings, but just contributions from your Roth IRA, and you can do it at any time, is it always tax and penalty free? Yes or no? Think about it. The answer to that is yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
The reason why I love Roth IRAs more than any retirement account out there, more than a Roth 401k, anything, is because any money that you have originally contributed, you can take out anytime you want. No limitation on age or how long the account has been open. It's your money. You can take it out. That's not true for the earnings of the account, but it's true for the contributions.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Now, the earnings, however, in a Roth IRA grow tax-free, but withdrawal of those earnings are always subject to income tax. Yes or no. So while they're in the account, everybody, they're really kind of growing tax deferred, everything. This is the earnings. But withdrawal of those earnings are always, the key word is always, subject to income tax. And the answer to that question is no, false.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
As long as the account has been open for at least five years and you are at least 59 1⁄2 years of age, you're not going to have to pay income tax on any of the earnings. So truthfully, if you have a Roth IRA that has been open for at least five years, you're 59 and a half or older, you can take every penny out of that account absolutely tax-free.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Next, you must have no pre-tax funds in any traditional IRA account. That includes a simple IRA, a SEP IRA, a traditional IRA, like I just said, to avoid tax complications when using the backdoor Roth strategy. Remember, everybody, I'll let you think about that for a second. There are modified adjusted gross income limits for you to be able to have a Roth IRA. If you are single or
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
You cannot make more than $150,000 a year of modified adjusted gross income to put the full max in a Roth. That amount goes down, and after $165,000 a year of modified adjusted gross income, you do not qualify for a Roth at all. If you're married, filing jointly, those numbers are 236, goes away totally at 246, all right? You make more than that. So you want to do a backdoor Roth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
And to do a backdoor Roth, you simply open up a non-deductible IRA, you do not take it off your taxes, and you convert it to a Roth IRA. Because you can convert any amount of money you want. and there are no income limitations on conversion, all right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Therefore, to avoid tax complications when you're using a backdoor Roth strategy, you must have no pre-tax funds in any traditional pre-tax retirement account. True or false? That everybody is true.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
Because if you have, let's say, a traditional IRA, maybe you have a SEP IRA, maybe you have an IRA rollover, and you do a backdoor Roth, like I just said, then you're going to have to pay taxes when you convert according to a pro rata formula, which I have explained in previous podcasts. But if you happen to have a pre-tax, any kind of retirement account, don't do a backdoor Roth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
All right, everybody, just that simple. How are you doing on these? Are you doing okay? All right. I so wonder how KT would have done. Anyway, next, the pro-rata rule does not apply when converting a pre-tax IRA to a Roth IRA. All right. Does it? Does it not? No, it does not apply. That is true. doesn't matter how many retirement accounts you have out there.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
When you are converting from a pre-tax account to a Roth, you're going to have to pay taxes on the entire amount you're converting. So the pro rata rule does not apply because you're already going to pay 100% tax on everything that you are converting.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
If you convert a traditional IRA to a Roth IRA, but the Roth IRA has already been open for over five years, the converted funds fall under the timeframe of the Roth IRA. So in other words, when you convert from a pre-tax to a Roth IRA that has been open for For over five years, remember the five-year rule, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
If it's been opened for over those five years, do the converted funds take on the time of those five years? Yes or no. And the answer to that is no, they do not. Converted funds, when you are converting from a pre-tax retirement account to a after-tax retirement account, traditional to Roth, then the amount of money that you are converting starts the clock for those funds operating
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
all over again. So if you convert three times, each one of those conversions are going to have their own five-year clock. You have to know that, everybody. Now, this one's a little tricky. But if you listened to a podcast that I did just a week or so ago on a Sunday Susie school, which was about what happens, what do you do if you get laid off or fired, you should know this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
you have a Roth 401k, and you've had it for 10 years now, right? Past the five-year limit, you've had it for 10 years. And now you are rolling it over to a brand new Roth IRA, one that you're going to open for the very first time. Does the time clock of the Roth 401k follow you to the Roth IRA.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So in essence, now is that money that's in a Roth IRA, has it been deemed to have been open for 10 years, even though you just opened the Roth IRA? Yes or no? And the answer to that is no. Listen closely, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
When you go from a Roth 401k, which is a certain type of retirement account, and you roll it to a Roth IRA, now you are changing the type of retirement account, even though they're both tax-free, from an employer-sponsored one at work to your own individual one. So it's brand new for you. It takes on the time clock of how many years the Roth has been opened, the Roth IRA, not the Roth 401k.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So if you are just now opening a Roth IRA when you do it, the time clock will start ticking and you will have to leave it there for five years. If your Roth IRA has already been open for five years or longer, now it takes on that five years of the Roth IRA, but the 10 years of the Roth 401k mean absolutely nothing when you are rolling it to a Roth IRA. However, if you leave that Roth 401k,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
at your place of employment, so therefore it has been open longer than five years, and you are 59 and a half years of age or older, you can take it all out without any taxes or penalties. So you just decide. But my suggestion to all of you is, can you just all open up a Roth IRA right now if you don't have one? Just open it with a dollar and that starts the time clock ticking.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
So for all the money then that you might have in a Roth 401k, Roth TSP, Roth 403b, if you roll it at that point into the Roth IRA, whenever you decide to do so, it takes on the time of how long that Roth IRA has been open. All right. Next, this is a trick one, so listen closely.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
March 6, 2025. Welcome, everybody, to the Women in Money podcast, as well as everybody smart enough to listen. No, I know, I know. Today is supposed to be Ask KT and So I thought, I know. You know how I was supposed to give KT a quiz on Roth IRAs and all of that? She wasn't going to have it. She was like, I'm not doing that, Susie. So I'm like, okay. And I couldn't get her to do it. That's life.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
The IRS aggregation rules require you to consider all your Roth IRAs as one account when calculating your RMDs, true or false. The answer to that is false. Did I not say to you in one of the previous questions that Roths never have RMDs? That was a trick question. So what you do need to know, however, is if it was a traditional IRA, traditional whatever you may have, even 401k, anything,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Which, by the way, I have to say something, everybody. So I told KT, today was supposed to be a Roth quizzy just for her.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And she keeps saying, I'm not ready. I said, when are you going to be ready? What did you say? Two weeks. You said two months. You said two months. So don't think I forgot, everybody, but no way. I have the quizzy right here. I've done the quizzy. I looked at her and she said, I'm not doing that. Right? I'm not doing it. I'm not doing it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
When it comes to a Roth 403B... When it comes to a Roth IRA, please everybody understand the difference. A Roth IRA is an individual retirement account that you yourself open up, usually at a brokerage firm or whatever it may be.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
When that is the case, you can take out any of your original contributions that you put in, regardless of age or how long the account has been open, without any taxes or penalties. It's the earnings that have to stay in there for at least five years, and you have to be 59 and a half years of age. But in a Roth, you have the ability to just take out contributions. in a Roth 403b.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Why are you saying it like that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
That is not how it works, my dear Ashley, because they do a combination. You just can't take out contributions from a Roth 403b. So what happens is they do a calculation. Let's say you had $50,000 in your Roth 403B. $30,000 were your contributions. $20,000 were growth. So if you were to divide 30 by 50,000, that's 60%. 20 by $50,000, that's 40%.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So if you wanted to just, let's say, take out $10,000 of your contributions, 60% of that $10,000 would be considered contributions. Totally tax-free, no problem. The 40% or $4,000 of that $10,000 is going to be considered earnings if it hasn't been in there for at least five years and you're not at least 59 and a half years of age or older.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Well, sometimes it was Sunday.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
You're not only going to have to pay ordinary income taxes on that $4,000, you're going to have to pay a 10% penalty as well. So you have mixed up a Roth IRA with a Roth 403B or 401K or TSP.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
That should have been your quizzy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
That's why my voice has gotten so hoarse over the years.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm always going like this to Katie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
You know, KT, if you remember, I think it was last week I answered, you picked a question very similar to this. Similar to that, which had, yeah, numbers, amounts of money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
You asked, and people answered on the email.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
How come you're picking the same type of question because it's touching your heart?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah, but this one isn't about an awkward or difficult one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
This is for you to do something just that simple. So here's the scoop, my friend. which is if I were you, I would not just do little by little because anything can happen at any time to the stock market. And therefore, your father is 95. Now he could live another five years. My mother lived till 97 and And it was because she didn't really want to live any longer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
They want you all the time.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
She really would have lived till 100. She'd probably still be alive today, Katie. Probably. Anyway, so if I were you, and I were in this situation, I would figure out a lump sum of money that I know I'm going to need for my dad for at least three years. And And depending on where his investments are, I would look and talk to a tax person.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And I would look, especially if it's outside of a retirement account, I would cash out of the ones that were the best performing he has gains in. and I would sell the ones that he has losses in, if there are any, and I would offset the two so he doesn't owe any taxes on it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
If it's outside of a retirement account and he doesn't have any gains to offset, then I would do only the ones really that had the losses in it and let the winners continue to go so he doesn't have to pay taxes on it. Because I don't know how large of a capital gain or an ordinary income he's going to have.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
But if I were you, the best advice I could give you is I would actually sit down with either a financial advisor or a tax person, look at everything your dad has, and do the ones that make the most sense. Also, I just have to say this. Remember, upon his death...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
When you get this, especially if it's outside of a retirement account, if he's going to leave it to you, you get a step up in basis on all the stocks and anything else he has where he has a tremendous gain. And then if you sell it, there's no taxes. So you have to figure it out. But probably I would start with getting rid of his worst performers first if I wasn't able to offset things. OK.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Oh, well, it's a deal. I'll take it. All right, sweetheart.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Oh, she's just scared today. You're asking, is the market going to be okay? Is money going to be okay? And all of that. I would tell you I wouldn't worry about it. I wouldn't because I think this year in particular is going to be a really great year for the stock market, possibly into 2026, believe it or not.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
The money that you have in banks are FDIC insured, hopefully if you're with the $250,000 or money beneficiaries. So I wouldn't be worried about those things. Would I be worried about gay marriage being invalidated? Which obviously kind of affects KT and myself, but we were married in South Africa. So we don't even have a license here in the United States.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Well, we're going to be in Florida because if any of you care, maybe you want to come out, we're going to see Kathy Griffin. On February 15th. Miami. I think it's at the Jackie Gleason Theater. And as you know, Kathy is a very good friend of ours. An old, old pal. Old, old friend. And she said, you better be there.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
But anyway, more important than that. But here's what everybody is writing me who's worried about the invalidation of gay marriage or same-sex marriage. Truthfully, the only way to completely ban same-sex marriage nationwide... would be through a constitutional KT amendment, where they would be defining marriage as a man and a woman.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Now, what's interesting about this, because KT's looking at me as if I should know this, right? But anyway, is this would require two-thirds KT of Congress and the ratification of almost, I think it's 38 states to get rid of it, which in my opinion, is highly, highly improbable. And why is that? Because the current public support of same sex marriage is 70%.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So I don't think a lot of these states are going to really jeopardize everybody voting them out next time. However, Will marriages that are existing become null and void? I don't think so. However, it may be that marriages in the future won't be allowed to happen. And that is an absolute possibility. Therefore, if you're out there, if you're gay, you've been thinking about getting married,
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I would do it. Stop thinking about it, right? Wait, I just have to tell a little story, even though I know we may run a little late. We were on that cruise ship, Olivia, remember? And there were two women and I was speaking there and two women stood up who had been together forever. And essentially, they said to me, this was after same sex marriage was legalized in the United States. And
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And I said, oh, so you're going to get married? They said, no, what for? I said, what do you mean, what for? They said, we love each other. Everything's okay. I said, do you know how hard all of us worked to get same-sex marriage legalized? I gave talk to senators. I did so much. It was essential. especially when you love somebody like I love KT. Of course you want to be able to get married.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And they said, nah, it's all right. And I said, don't wait. Don't take something for granted because you never know when it will go away. And here we are today with I've gotten over 50 emails like this, KT, asking this question. So don't take it for granted. If you're out there and thinking about it, go ahead and do it. But don't do it just to do it. And then you're going to have to get divorced.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And then you're going to be like all these other people that write in and go, you're fighting and just cost you 176,000 in legal fees. All right, next KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
All right, then.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Oh, look, I have my marriage ring on everybody. Look, Katie. Nice. So pretty. Yeah, because yesterday I had to do a webinar and I wanted everybody to see that I was married. So do you hear it banging on the desk?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So Katie and I will be there. Are you going to be there too? If so, you best say hi to us.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
But that's what that noise is in case you hear it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
This is from Brent. All right. Good afternoon, Susie. Now, all of you know, Quizzy isn't just for KT. This is for you to be able to answer this as well. Good afternoon, Susie. I'm reaching out for your guidance regarding my parents' financial situation, which has been weighing heavily on me. My mother is already retired and only has Social Security as her retirement plan.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
My father, who is 68, is looking to retire soon. They are still married. Unfortunately, they've never been strong with managing money and have a history of on-again, off-again credit debt. often resolved through bankruptcy in the past. However, they no longer qualify for that option. Obviously, that's KT because they filed just a few years ago. So they can't do it again.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Currently, they have approximately $60,000 in credit card debt. And they owe about $110,000 on their mortgage. Remember, they're only in their 60s. they are about to receive ninety-eight thousand dollars as a tax-free inheritance from the sale of my grandmother's home additionally my father has around two hundred fifty thousand in his 401k.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
My first question is about... Wait, we didn't tell anybody what happens today. She's looking like what? What happens to you? This is where you write in.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
My question is, should they use the inheritance to pay off their mortgage, or should they use it to pay off their credit card debt? Think about it. $98,000 tax-free. Daddy has $250,000 in a 401k. Should they use the inheritance to pay off their mortgage or their credit card debt?
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
No, they're not going to have enough, right? Their mortgage is $110,000. They only have $98,000.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah, so they're going to owe still $12,000. Pay off the mortgage. Absolutely, your final answer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
You sure? Yeah. Oh, I'm so happy to be able to do this to you. Are you ready?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
My horse voice. Are you ready?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Absolutely the correct answer. The reason everybody that it is the correct answer is is that you never want them to get in a situation where they're not able to pay their mortgage and then their house is taken away from them. Remember, credit card debt is, you know, it's just credit card debt. It's not attached to anything.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So given that they're not going to have any income or anything, what are the credit card companies going to do? All right. So if I were you, my dear Brent, I would take the $98,000 and I would pay the mortgage on the home. Then I would withdraw, as soon as your father retires, I would withdraw at least $12,000 more to pay off the mortgage totally. Then they own the house outright.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Now the question is, they still have $60,000 in credit card debt. Well, I don't know. What do you do with that? Now do you take the money that they were paying towards the mortgage, and now they put that towards the credit card debt. And sooner than later, they will be out of credit card debt. That is how I would do it if I were you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
and then be very careful about how they use that money in their 401k. And because I'm telling you, it could be really difficult if they just take it all out. I would, however, take the money that's in the 401k and do an IRA rollover with it. And then maybe if they don't have a lot of income,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Ready? Go, Suzy. So if you have a question and you want KT to possibly choose it so that I can answer it on this podcast, just write in to Ask Suzy Podcast. That's S-U-Z-E podcast at gmail.com. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
maybe just start converting some little by little to a Roth IRA if they're not going to need it to live on. All right, KT, that's a wrap. What are you doing today? Fishing. KT, you have been fishing every single day.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And what is that, KT?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
That is why everybody, every single morning, she is out the door by 6 a.m. with Kolo. I, on the other hand, can't go because somebody in the family has to work. And she doesn't get back, usually, until when, KT?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Anyway, so you're going to go do it again? Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Thank you. Thank you. Thank you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Thank you. Thank you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Why, because I'm going to yell at them?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
She disagrees with me, and yet she's embarrassed to use her name.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Come on, Katie, use her name.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
She's comparing 1984 to now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Well, probably at about a 2.5% inflation rate, around $375,000 right around there. Well, there you go. All right, so wait. So let's get realistic here. All of us who are older lived in a very privileged time. We lived in a time when real estate was really so inexpensive, I can't tell you. I remember when this incredibly large house in Berkeley, California was $17,000. You do? Yeah. Wow.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And then the next year, it was $34,000. KT, I bought that huge home there. 97 Tunnel Road for $40,000.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I bought my house up in the Oakland Hills for $65,000. And then it sold for what? $900,000, whatever. So the thing is, Miss Staten Island, is that you have to Also, as you've gotten older now, you have to appreciate the fact that all of us were able to buy things at a time when they were far less expensive and that it just made sense to own real estate.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Today, I can't even imagine what is your house worth? What are you going to sell it for? And is anybody going to be able to even buy it? So we were privileged. So while you may be able to disagree with me, and I respect that, Today, for those who are younger, the millennials and all of them, it's incredibly difficult to buy a home that average prices are $400,000.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
That means at least $80,000 down. Insurance is through the roof. Property taxes are through the roof. The jobs aren't stable. They're being displaced by artificial intelligence. If you're working for the federal government, well, you've just been laid off. There are tens of thousands of jobs that are going away.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So while you get to enjoy the fact that you own it outright and you can't be evicted, you also have to be understanding of why somebody like Susie Orman says it's okay to just rent. It's okay. Because with insurance and things like that, it just might be too expensive. Now, you're in Staten Island. I just have to say this. It's expensive. You're in Staten Island.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
There are people in Florida who own their homes outright. And they have to sell because their insurance has gone up so much. They can't afford their insurance payments, even though they own the house outright. So don't be too judgmental. It depends on who you are, where you live, their income, and everything like that. Next.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I suggest that a million dollars in a Roth investment over 40 years, right, implies with no home ownership. No, I didn't imply that. But what I was trying to do is make a point with the woman who was interviewing me that Simply, it's better to have something than nothing. And if you can't afford a home, all right, at least start saving for the future.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
The example of $1 million was $100 a month over 40 years. And that would give you $1 million. What if it were $200 a month or $500 a month? Something is better than nothing. And to understand compounding helps you no matter what. So don't be so snippety that a million dollars will only be a pittance. $376,000 even 40 years from now is not a pittance.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
There are people who would love to have just $10,000. So be more gracious, my dear one. Next, Katie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
A week or so ago, I asked all of you who might have advice for Juliana, because she was actually the quizzy. I think. Anyway, to write in and give her advice. Why? Because she is in this abusive relationship. She's been separated and she's so confused. Should she divorce him? Should she not? And she's just scared to make a move. So I thought maybe all of you could help her.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And she's gotten about 50, by the way, responses. to her situation. But obviously, KT chose one to read to you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
This past summer... Juliana, I hope you're listening. Yeah. Go for it, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And to all of you who took the time to do so. I'll try my best to get all of them to Juliana, right? And I do have to cross out all your names and everything to protect all of you. But anyway, I'll try my best to do so. But thanks, everybody, seriously. You know, KT, the people- Supporting each other.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
The people that listen to the Women & Money podcast and everybody's smart enough to listen, the majority of everybody really are so kind and good and supportive. And we appreciate that so, so very much. Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So, Suzanne, here's what you have to take in consideration. I'll just tell you as far as we go. To pay $28,000 a year for a really 2,000 square foot condo, that's all it is, is just ridiculous.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
In Florida. It's ridiculous because they also let you know if you make one little claim. Even if it's a little claim, they're going to cancel you. So my looking at it is, all right, if something happens to the condo, the outside and everything will be protected by the condo insurance for the building. The inside is what we will be responsible for.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So I look at everything and I just think, all right, I'd rather come up with whatever it's going to cost to fix everything than have to pay $28,000 a year. Now, my big fear is hurricanes. So it's possible that we could get hit this summer after I've canceled.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
It's also possible that for the 20-some-odd years that we have lived there and we've gone through many hurricanes... Can you believe we've lived there? How long have we lived there? 20, 21 years.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Whoa, can you believe it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Anyway, and we love it there. We've never been hit by a hurricane yet. So if I were to say, okay... Can I go five years maybe and not being hit? And that would be $150,000 savings, which would probably be enough to fix everything. But regardless, it's right for us to self-insure because the truth of the matter is no matter what happened in that condo, we can easily afford to fix it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And it will not on any level affect us financially in terms of our security or anything. So that's kind of how when you know it's right is if you drop your insurance and this next week or whatever, the place is destroyed. Can you afford to replace it totally on your own? And it's easy to do. All right, Katie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
February 6, 2025. Welcome, everybody, to the Women in Money podcast, as well as everybody smart enough to listen. Guess who's in the house this morning?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So there are credit cards out there that you can get at a 0% interest rate and that you have a solid plan to pay it off in full at the end of every month when the bill comes in. If you can't do that, guess what then? You don't need it right now. Are you hearing me? Number four, I need you to guard your emergency fund like it's gold. You've been looking at gold lately at $3,080 an ounce.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
It's precious right now. It's valuable. You know I want every single one of you to have at least eight to 12 months of must-pay expenses saved, not in the market and not in a CD, but in a high yield savings account ready to go. Remember how many times have I told you that money that you may need within five years is not money that belongs in the stock market.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So you have to be prepared because if these tariffs really do take a toll, if the market does continue to go down, if all the prices on everything start to go up and you find yourself that you're really not able to afford things anymore, you need that must pay expenses fund. Have you been working on it? I've been telling you this forever because it's your buffer. It's your peace of mind, right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Tariffs and inflation and job uncertainty is here. It's here right now, everybody, and you want to be protected. Number five, at times like this, when you all are freaked out, and I want you to stop being freaked out, you have to stop emotional spending. I have found that when things get tough, oh, you just go and buy and buy and buy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Because that just makes you think that you're going to soften everything up. You'll feel better for a little bit until the bills come in. So some of you hear this news about tariffs and think, well, I better live it up while I can. Is that any of you? Better not be. but that's not the smart thing to do. That's not strong and that's not being secure. And what is the goal of money?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
It's for you to be secure. You don't spend to feel better. You prepare to feel better. You want power. You want control. You want that by being financially prepared. All right. So I know I'm on a ramp here. I can tell. I'm like going a million miles an hour because the emails that I'm getting have infused me with your fear, your anxiousness. You're not knowing what to do.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And you're just so freaked out. I need you to stop. Just stop. And you need to understand that if you've been listening to the Women in Money podcast, and if you've been doing everything that I've asked you to do, you are more than prepared for what possibly could come the next few months. And I don't know what's going to come the next few months.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Nobody knows what's going to come the next few months. So these aren't just nice do tips that I'm giving you here. They're just not. These are what I'm calling your must do's. Just like I say, you should all have the must have documents. These are your must do's.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And I believe from the bottom of my heart that the more prepared you are, the more peace you will have, no matter what happens with the economy. And again, how many times have I said to you, the government can't save you, the economy can't save you, only you are going to save yourself. So stop listening to the news. Stop listening to everybody freaking out what you have to really, really do.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
is come from a place of power and get ahead of everything that is absolutely possible. That's what you need to do. So you just need to stay in your power. Now, I will be the first to tell you that these tariffs, they can and they have been shaking up the stock market, especially in sectors that rely on international supply chains. So that means I want you to think about
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
tech, auto, manufacturing, even retail. Why not look into your 401k and your Roth IRA and your brokerage accounts and just look at what you happen to be invested in. Do you even know? Don't just blindly put the money in a target date mutual fund that you picked 10 years ago. You really need to just look at what investments do you have.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Did it ever dawn on me that when you move to a private island that you have to make your own electricity, you have to make your own water, you have to just like bring in everything that there's absolutely nothing here but water and trees? Did it ever dawn on you, Susie Orman?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So this is the perfect time for you to take account and really go through everything, not just your monthly expenses like I asked you to do a few minutes ago. but every single thing that you happen to have been invested in. And if you're too concentrated in just one sector or one country, now is the time you might want to think about rebalancing. Next, diversify, diversify, diversify.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And I've told you this before. If your portfolio is overloaded in one area, especially one that's vulnerable to tariffs, then I have to tell you, you're not protected right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So make sure that you really do have a healthy mix of investments, everybody, which is why a broad-based Standard & Poor's 500 Index Fund or the Vanguard Total Stock Market Index Fund or VU, whatever it may be, are fine things for you to be invested in. But you want U.S.-based companies. You You want some international exposure, but not too much.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
I've told you forever, you want dividend paying stocks. In my opinion, you want some of your money in treasury intermediate bonds right in there. And so those are things that you just need to know. But you have to keep investing, especially in your retirement accounts. As markets go down, as prices keep falling,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Like I told you, you should be so happy, especially if you have years until you need this money. Because with every contribution, remember, dollar cost averaging, which is your best friend in a volatile market, the more the market goes down, the more shares you buy, and the more shares you buy when the market goes up, the more money you have.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So when you're investing in a Roth 401k and that money is coming out of your paycheck, it's not the same as when you're outside of a retirement account and you're putting money from your actual cash or whatever into an individual stock where you need to decide the amount of money you want in it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
In a 401k, you have continuous money coming out of your paycheck, usually into a diversified ETF or mutual fund. So you don't have to worry when the markets are going down. You just continue to do it and do it and do it and do it and do it. It's just that simple. So very different than individual stocks for those of you
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Anyway, this is my way of saying I apologize for not being able to send a podcast on Thursday, but don't even ask me what happened because I don't even know what happened. There was a major, major electrical outage on the island. One of our transformers went down. It was bad. And it took forever, forever to put it back up again.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
right, who have years until you're going to retire, we may be entering one of the best years for investing of your life's, believe it or not. So it's important that all of you kind of have different buckets. You have a bucket of cash and short-term needs. You have a bucket of income-producing investments. You have a bucket of long-term growth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So if all of your money is in the market and you're retiring soon, and it's all in growth, and you need income from that money, you might have a problem. So what I want you to do is I want you to really look at it and go, where is your income going to come from if these markets go down? So what is the bottom line here, everybody? Tariffs are coming. I don't want you to ignore that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And I also don't want you to panic because panic is not a financial plan. So let me just remind you of the three most important things that I want you to do right now. Number one, get honest about your spending. Number You can't protect your money if you don't know where it's going. Pull those statements and trim the fat, cut the waste, and only spend on truly what matters.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Number two, protect your essentials. Stock up on what you know you'll need, make smart buying decisions, and if a big purchase is coming, don't delay, but don't go into debt either. Be strategic, be thoughtful, and be in control. And number three, stick with your investments, but don't fall asleep on them. You must know what you own. You must diversify.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
You must keep investing, especially in your retirement accounts. Please remember that volatility, are you listening to me, is a buying opportunity. And if you can stay calm, stay consistent. And let me say this again, don't touch your emergency fund. That money is your safety nut. Remember that. That is your power and nobody takes your power away, not even with tariffs. Do you get it, everybody?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
What is my saying for this year? It's about how do you make your money make more money? I just gave you a whole lot of things for you to think about and for you to do. And I did it in a very fast and powerful way because I want you to take action. Because the tariffs are here and things are going to get considerably more expensive. Considerably. So don't put things off if you need to do them.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Now is the time. All right, so until next Thursday when Ms. Travis, God willing, with power on this island, joins us again for Ask KT and Suzy Anything, there's only one thing that I want you to remember when it comes to your money, and it is this. People first, then money, then things. Now you stay safe. Bye-bye now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
The great thing about it was, truthfully, is that the weather was beautiful. It was cool. So we had our windows open and the wind was blowing and everything was beautiful. And it was so incredibly quiet. It was quiet. Nothing was going on. You didn't hear any ringing of anything or nothing. It was silent. And for those few days, it made me really appreciate how wonderful silence can be.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Because it's in silence that you can hear your own thoughts, and you can really focus on important things in life. I don't even know what they are writing at this moment, but you can. It is what it is, everybody, but we are up and running again, and the island is as noisy as ever.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
The other noise that's happening in this world is obviously what's happening with inflation, what's about to happen in three days from now when the tariffs take effect, and the stock market is not liking it on any level. It's going down, and it's going down, and it's going down. And
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And you know, I was watching my favorite little stock, Palantir, and I was watching it go from 85 to 90 to 95 to 97. And for a second there, I thought to myself, Susie, why didn't you buy more at 85? But when I was going to buy more at 85, I thought to myself, Susie, you own enough of that stock. You don't have to own more of that stock. Don't buy any more of that stock.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
You own as much as you want to own of that stock. And then I thought, okay, but watch, it's probably going to go up to 100 or 125 and so forth. And of course, on Friday, I watched it go from like 95 or 97, back down to 90, back down to 85, back down to 84. And that reminded me of...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
When you have designated for yourselves an amount of money that you want to have invested in one particular position, don't get greedy. Don't think just because a stock is going up and you see it going up and you really believe it's going to go a lot higher, that means you have to put more money into it. And I found myself, everybody, getting suckered into that possibility.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And I'm so glad that I didn't because I really do own enough of Palantir. I really, really do. And so does KT. And there are so many other incredible stocks that are taking a serious beating right now that it just makes sense to maybe start buying other things and diversifying even more. So the question becomes,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Have you decided on the amounts of money that you want in every single investment that you have so that you don't get suckered into what I almost got suckered into, which is every time it goes down, I should buy more.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Because even though I know dollar cost averaging and value cost averaging is a very important thing for all of us to continue to do, there comes a point when it's an individual stock, not when it is an exchange-traded fund or a mutual fund. Different, because that has total diversification within it. But when it is an individual stock...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
I really think you all, including myself, need to set a total of how much money do you want to put in one stock and risk it. I think it's an important thing for all of you to look at your portfolio and write down for each individual stock you own how much is the total that you want in that stock.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And then that's the amount that you dollar cost average or value cost average every single month into it. Because things are changing right now. People are not happy out there. People are absolutely scared to death, and I have to tell you, rightfully so.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
You know, there was some articles that were posted on my Facebook page about how to collect Social Security at 70, and I still think that's the time to collect. And the people that badgered those articles, I can't even tell you. Like, what's wrong with you, Susie Orman? People should be claiming Social Security right here and right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Because who knows if Social Security is going to be around to claim. Do you really think everybody, just because you claimed Social Security, that that means you're not subject to them cutting your Social Security? Do you think that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Or do you think that it's possible that they're scaring all of you into claiming Social Security earlier so they don't have to pay you bigger benefits as time goes on? Do you think that's possible? Because if they're going to cut, they're not going to cut the people who are already getting Social Security or qualified to get Social Security.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
What they're going to do is, like I told you before, they will postpone the age that you can get your Social Security. That is how they will affect you more than anything else. So for those of you who are just saying, I'm going to collect now, it's not going to be here for me to collect. Stop thinking like that. Stop it. Because you could be sabotaging your financial future, all right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
I need all of you to seriously calm down. If they were to do something like that, or if Social Security all of a sudden stopped sending you checks because the whole system crashed, there would be such an uproar. I can't even tell you. Social Security is the foundation of 70 million people's financial future.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
That is a lot of people, everybody, and it's the future of many more millions, people who aren't even claiming yet. So if it happens to go awry because the systems have been stripped or whatever, they have to fix it and they have to get it back on board for all of you. But don't start claiming at 62 because you don't think it's going to be there when you're 67.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Don't claim at 67 when you were going to wait till 70 because you're afraid that if you're not already claiming that therefore you'll maybe be cut. So please, you're all driving yourself nuts.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Now, is it possible that given how many people they have laid off, that social security is going to be incredibly difficult to get, meaning apply for, to get your questions answered, to do all of those things? Oh, you bet it is. I'll be the first to tell you that. But then you have to work within this system.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
You should all seriously be calling your congresspeople or your senators and saying, please don't fire the people who are working for Social Security. Please don't cut off the phone lines. Don't do those things. So if you're worried about this and you're scared to death, then you have to use your voice so that you're not afraid. What have I told all of you?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
That the main way to conquer fear is through action. not to get more and more afraid, not to take the wrong action, but to take actions that absolutely make sense. And that is to don't let them fire those people. Don't let them close down all the offices. And just because they've closed them down doesn't mean they're going to keep them closed down.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
But your job is to make sure that you have everything, you have your records, you go to mysocialsecurity.gov or whatever it is, and you go to my social security, you have everything that you need to know. And that you know how you're going to apply when you need to apply. And you have figured all of that out.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
But we actually have, on some level, kind of bigger problems, everybody, than that right now. Because we're not exactly sure what's happening with Social Security. We know they're going to mess with it somehow, but I think everything should be okay in the long run.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
What's really going to mess with all of us right now are the tariffs that are going to take place within three days, which is one of the reasons that you see the stock market absolutely tanking itself. That and the fact that inflation is coming in higher, consumer confidence is lower, all of these things that are going on, the stock market doesn't like it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
So because tariffs are coming, and that means that the price of things you use every single day may be going up, then you need to prepare yourselves. You need to know exactly what you must do right now in order to understand, oh, things are going to go up, so what should I do to make my money make more money? Take out your Susie notebooks, all right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Number one, I really do want you to review your spending. I do. I want you to print out your last month of bank and credit card statements. And I want you to get out a highlighter or your app or whatever you use and go line by line and And I want you to really know where is your money going?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Because as things get more expensive, you're going to need to know where do you cut back, especially if you're living paycheck to paycheck. Is your money going to groceries? Is it going to Amazon? Is it going to eating out? I I want you to know the categories where a price hike is going to hit you the hardest.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
Because let me tell you, if you're already spending more than you make, which most of you are, tariffs are going to push you further into the danger zone. So you have to look at everything that you're spending money on. And think about where are the tariffs going to hit me the worst? And how do I cut back? You just need to know where is your money going?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And I know many of you think you know where it's going, but it's a whole nother thing when you see it mapped out in front of you. Number two, stock up on the essential things right now. Now, I'm not telling you to go and be a hoarder, but I am telling you, if you know you'll need it anyway, and it's not going to spoil, believe it or not, Susie Orman wants you to buy it now. What kind of things?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
I want you to buy paper towels, laundry detergent, toiletries, pet foods. If it is imported or contains imported parts or ingredients, it's likely to go up in price. So how do you make your money make more money? By being proactive, not reactive. That's how you stay ahead. Number three, time your big purchases wisely. Now listen to me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
If you've been thinking about buying, for instance, a new fridge, a laptop, or a car part, or even a car, you are not to wait. A 10% to 25% price hike on certain goods could be just around the corner, everybody. It could be three days away. I don't know when it's actually going to hit the price of the goods that you're buying, but it's going to do it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
But the important thing, however, is do not go into debt to buy something just because you're afraid the price is going to go up. Do you hear me? Only buy it if you have the cash. So don't go into... Costco or wherever you go and take out your credit card and go, I'm going to buy everything right now because it's cheaper right now and I'm going to rack up credit card debt.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
And then you end up paying 18% on your credit card because all you can do is pay the minimum payment due. No, that doesn't help you at all. So if you're planning to finance something, let's say you're going to use a credit card or whatever, you have to make sure it's at a 0% interest rate.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Your “Must Do’s” (For Right Now)
March 30th, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to listen. Suzy O here. Now, before I begin today's Suzy School, can all of you just tell me, what was I thinking when I decided to move to a private island many, many years ago? Can you just all tell me that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Where most of you have total confusion, however, is with the spousal and survivor benefits. So are you ready? If your own Social Security benefit is higher than 50% of your spouse's, you can still collect a spousal benefit in addition to your own benefit.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
So if the Social Security benefit is higher, yours, than 50% of your spouse's, you can still collect a spousal benefit in addition to your own, true or false. That's false, everybody. You can only receive the higher of your own or the spousal benefit, not both. Do not make that mistake in planning for income. A lot of you make that mistake.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
A spouse cannot claim spousal benefits unless the other spouse has already filed for their own Social Security benefit. All right. So your spouse has claimed. Can you claim a spousal benefit? That's true. Spousal benefits are not available until the primary worker has claimed. So, you just need to remember that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Just because you turn a certain age, you cannot claim on your spousal's record if he or she hasn't already claimed, all right? A widow or widower can begin receiving survivor benefits as early as age 50 if they are disabled. And the answer to that is true. Otherwise, survivor benefits, everybody, begin at the age of 60.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Next, remarrying before age 60 makes a widow or widower ineligible for survivor benefits based on a deceased spouse's record. True or false? That is true. So be very, very careful if you want your deceased spouse's Social Security. Do not get remarried before the age of 60. However, unless that later marriage ends, because if it does, then you can collect. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
If a deceased spouse delayed claiming Social Security past full retirement age, so they went past the age of 67, maybe it's 70, the survivor can receive the full delayed benefit amount. Notice I said the survivor. All right. These are survivor benefits, not spousal benefits. That's true. Survivors get the benefit the deceased was entitled to, including delayed benefits.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Please know that that is not true for spousal benefits. It's only true for survivor benefits. A divorced person can receive survivor benefits from an ex-spouse if they were married for at least 10 years. And that is true. 10 years is the minimum required for divorced survivor benefits.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
So if you're with somebody and you've been with them nine years or nine and a half years and you want to file for divorce, can you just wait another six months? Just wait, okay? A person cannot receive both their own Social Security benefit and a survivor benefit at the same time. That is true. Remember, you can only get one Social Security check, and you will get the higher of the two benefits.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
And on Sundays, which today happens to be, we have Susie's school. So if I were you, I would definitely get out my pen and paper. Or you can do a pencil if you want. Because you're going to have a quiz today. 35 questions on a topic I've picked for you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
That's what you will get. So if your benefit is higher than the survivor benefit, you will have to take your benefit. If the survivor benefit is higher than yours, you will get the higher, the survivor benefit. Know that. If somebody is receiving spousal benefits and their spouse dies, they automatically begin receiving survivor benefits. True or false? That's false.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
You have to apply for survivor benefits separately. Do not think that it will automatically happen because it won't. A surviving spouse can collect survivor benefits and delay their own retirement benefits to grow until age 70. Think about this one now. A surviving spouse can collect survivor benefits.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
The spouse died, and now he or she is collecting survivor benefits, but they can delay their own retirement benefits to grow until age 70. True or false? That is true, and it's a very strategic way, everybody, to maximize lifetime benefits. A widow or widower who was married to more than one deceased spouse can collect benefits from multiple spouses. That's false. They can choose only one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Typically, the highest survivor benefit is the one that they choose. Okay. if your survivor benefit is higher than your own retirement benefit, you can switch to it even after claiming your own benefit. So this was a reverse of one that was just done earlier. What do you think?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
If your survivor benefit is higher than your own retirement benefit, you can switch to it even after claiming your own benefits. So you're claiming your own Social Security, then your spouse dies, and the survivor benefit is higher than yours. Can you switch to it? You absolutely can. That's true. You can switch to whichever one is higher. Do not forget that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Next, delaying Social Security benefits past full retirement age increases both your retirement benefit and your spousal benefit. That's false. You have to remember that only your own retirement benefit increases. Spousal benefits do not.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
So if you are married and your spouse is waiting till the age of 70 to collect his or her Social Security, and you are going to claim a spousal benefit, you do not get 50% Of what your spouse would get at the age of 70, you only get 50% of what they would have gotten at their full retirement age, probably 67. Okay? You need to know that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
But before I do that, I do want to talk to you about one of your greatest questions lately, or should I say your greatest fear, which is, Susie, are they going to cut Social Security? What's going to happen to Social Security? Susie, I can't afford it. They can't cut my Social Security. It's all the money that I have. Slow down and relax.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
You must be married for at least 10 years to an ex-spouse to qualify for either spousal or survivor benefits. True or false? That's true. 10 years. 10 years. Everybody remember 10 years. A widow or widower must wait five years after their spouse's death before applying for survivor benefits. True or false? That's false. They can apply as early as age 60 or 50 if disabled.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Now, that was a repeat of an earlier one because some of you get so, so confused with spousal benefits or survivor benefits or any of that. You just get so confused, but now you hopefully know. A person claiming spousal benefits cannot later switch to survivor benefits. That's false. And many of these are repeats because I really want you to get them.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
I want you to look back and see if you missed it when I asked it earlier. Did you get it right this time? Because this is the number one question that I am asked. Okay. And I'm just going to ask two more, so I don't know how many that makes. But survivor benefits include delayed retirement credits earned by the deceased. So your spouse claimed at 70, and therefore he got delayed credits.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Delayed retirement credits. When he or she dies, do you get the full amount that your deceased spouse was receiving? True or false? You do. Remember, survivor benefits are very, very different than spousal benefits. They are not the same and they do not follow the same rules. So they have different eligibility rules and payment structures. So just know a survivor, your spouse has died.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Spousal benefits, your spouse is still alive and you are claiming a benefit based on your spouse's Social Security. So, last question then. Spousal benefits include delayed retirement credit by the spouse. So here you are, you are married, and your spouse claimed Social Security at the age of 70. So he or she has delayed retirement credits.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Do you get 50% of that amount at the age of 70 if you are the spouse? And the answer to that is false. You do not. So you have to see there the difference between spousal benefits and survivor benefits. All right. Did you like that little test? You know, you might have to listen to it over and over again. I hope I didn't go too fast for you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
But in these questions are all the questions that you ask me. You ask me, my spouse died, Susie, if I collect my own benefit, and then will I get my survivor benefit? Like so many times you're asking me the same questions. So now these are the things that you need to know about Social Security. There's a million other things you need to know about children's benefits and all of that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Everything that's happening currently with Social Security is about them cutting people working for Social Security, cutting staff, closing offices. There has been no talk at all about cutting benefits. Now, does that mean in the future there won't be some talk about rearranging benefits just like they did, I think it was in 1983, when they raised the full retirement age from 65 to 67?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
But I thought that was probably enough for you to take for this Susie School. And it was also enough for my voice for now. Anyway... I hope you enjoyed that. I hope you learned from it. It's just something you need to know because every penny you have earned in Social Security, and you've earned it, you paid for it, you have to know what you have coming to you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
You have to know how it works, and you have to not be worried about what the government's going to do. You have to be worried about what you are going to do and what you know. All right, until Thursday, when Ms. Travis will join us again, there's only one thing that I want you to remember when it comes to your money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
You should go to my YouTube channel, youtube.com slash Suzy Orman, and play there. Try the Can I Afford It segments. They're gamifying now. Look at other things that we have coming up. We're posting new every single week. So go on, go there and see what you can find. But remember, people first, then money, then things. Now you stay safe. Bye-bye.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Do you remember that? But all of you already receiving benefits, your benefits weren't cut. It was for future years, future people. So I would imagine that that is a probability. I have no doubt that they're going to raise the full retirement age.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
possibly to 70 from 67, and that you have until 73 with delayed benefits to collect Social Security, I'm sure that they'll probably raise, and they should, the income that everybody pays. Because right now there's an income limit, and after that limit, you don't pay Social Security tax anymore. They should just make that unlimited, that you all pay Social Security tax
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
no matter how much money you make. That way, that would help fund the system. But stop worrying about it right now anyway, okay? However, a few suggestions, which is they are obviously going to make it more difficult for you to call into the Social Security office. You're going to have to either go online or go in in person. So if you're older, And you need to contact them.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
And you're not online savvy. Do you have a little niece or nephew or grandson or daughter or somebody who has a little portable computer that when you want to contact Social Security, maybe they can come over to your house? And then you can just ask what you want or make a claim or whatever that may be.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
So I would be making plans for that right now if I were you, especially if you haven't claimed Social Security yet. Next, I would all ask for or get my Social Security statements. I would want to know exactly where I stand, what is projected. I would want to have a record of it, not just online. I want a printed record of it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Because you just never know, not that I'm being paranoid, but you never know when records will disappear. And all of a sudden, all that information is gone. And then what happens? It's just that you need to protect yourself in those ways. The other way, everybody. you really need to protect yourself is to truly know and understand how social security works.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Because more important, really, than what they're doing, because they don't know what they're doing right now and everything, it's your own knowledge. I've told you this forever. It's your own knowledge and your own actions that will keep you safe and secure as best you can. But the problem is most of you do not have an idea how Social Security works or the little intricacies of it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
So I have 35 questions that I have prepared for you, all true or false, on Social Security. The first 15 are questions that kind of apply to everybody that you should just know. And the next 20 is really all about spousal and survivor benefits because that's where most of you get confused. And for those of you who are younger and listening to this right now, listen to me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
Your parents may not know what they're doing. Your grandparents may not know what they're doing. So you need to know all this so you can help them just in case. All right, everybody, ready? Number one, your monthly Social Security benefit increases by 8% each year. You delay claiming it beyond your full retirement age up to age 70. So currently, full retirement age for most people happen to be 67.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
So you get an 8% increase every year of that benefit up to the age of 70. True or false? So the answer to that is true. And you better keep track of how many you get right and wrong. Again, these are called delayed retirement credits. Number two. Social security benefits are never taxable regardless of your income. The answer to that is false.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
It is possible, everyone, that up to 85% of your benefits may be taxable depending on your income or combined income if you happen to be married. All right. Next, cost of living adjustments, COLA, are guaranteed every year on your Social Security. True or false, are your Social Security benefits guaranteed to go up every year by the cost of living adjustments? Believe it or not, that is false.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
COLA is not guaranteed, and it depends on inflation. That's what it depends on, but it's not guaranteed. Your benefit amount is based on your highest 35 years of earned income adjusted for inflation. True or false? That is true. Only earnings on which you paid Social Security taxes are counted, but it's based on your highest 35 years of earned income.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
If you continue working after claiming Social Security and you are under full retirement age, remember, full retirement age is currently about 67, your benefits might be reduced. True or false? And the answer to that is true. Remember, everybody, there's an earnings test before your full retirement age that if you keep working can reduce your payments.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: How Much Do You Know About Social Security?
They don't know what it is yet for 2025, but in 2024, if you made more than $22,320 a year and you were under your full retirement age, 67, then they will withhold $1 for every $2 of earnings above that amount. And then they do this crazy thing. If you're still working one month before your full retirement age, then you can make, this was 2024 again, $59,200, something like that.
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Suze School: How Much Do You Know About Social Security?
And they will withhold $1 for every $3 that you've earned. Once you turn full retirement age, you can make as much money as you want, and there are no deductions whatsoever. The next question has to be, do you get that money back? And you do, but not in a lump sum.
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Suze School: How Much Do You Know About Social Security?
They prorate it over your lifetime Social Security benefits, and I don't think you get back quite as much as they withheld, just so you know. All right. Once you start receiving Social Security, your benefits are fixed for life and will never increase. True or false? That's false.
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Remember, they can increase through COLA, or it's possible you might be able to switch to a higher benefit like a survivor benefit. Just know that. If you never worked or paid Social Security taxes, you are completely ineligible for any benefits. True or false? That's false because you might just qualify for a spouse's or ex-spouse's record. It doesn't matter if you didn't make any money at all.
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Suze School: How Much Do You Know About Social Security?
If you were married at least 10 years, then you can. Remember that. All right. The earliest age that you can begin collecting retirement benefits is 62. True or false? And that's true, but you got to remember the benefits are going to be permanently reduced if you take them before your full retirement age. I would not do that if I were you, all right?
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Suze School: How Much Do You Know About Social Security?
Now, if you were born in 1960 or later, your full retirement age is 67. That is true. So, again, I mentioned that over the years, the full retirement age went from 65 to 67, and now everybody born after 1960, full retirement age is currently 67. You can suspend your Social Security benefits after full retirement age to allow them to grow. Remember, full retirement age is 67.
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Suze School: How Much Do You Know About Social Security?
The answer to that is true. You can suspend your benefits all the way until you are age 70. That is those delayed retirement credits, and you will make 8% from 67 to 70 on those benefits. Social Security benefits are protected from garnishment under all circumstances. So can student loans come after you? Can federal debts or taxes? Can they be garnished, everybody? Or are they protected? False.
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Suze School: How Much Do You Know About Social Security?
They can be garnished for things like federal debts, taxes, student loans, all those kinds of things. So don't think you're going to get out of it. Once you reach age 70, your Social Security benefits will automatically increase each year you delay filing. So here you are 70 and you decide not to file, but the delayed retirement credits will go on until you're 71, 72, 73. Is that true?
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Suze School: How Much Do You Know About Social Security?
That is false. Delayed credits stop accruing at age 70. No reason to wait longer. So it absolutely drives me crazy for those of you who write in and you say, I'm 74. I haven't started collecting my Social Security benefits. I'm just letting them increase. I'm like, are you crazy? They don't increase after the age of 70. So just something that you should know about. All right.
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Suze School: How Much Do You Know About Social Security?
You can only collect Social Security if you are a U.S. citizen. True or false? False, everybody. Certain non-citizens with legal status and work history may absolutely qualify. Once you, now this one's important, all right? Once you claim benefits, you have up to 12 months to withdraw your application and reapply later if you repay what you received. So you started claiming benefits at 62.
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Suze School: How Much Do You Know About Social Security?
You've only claimed them for, let's say, 11 months. You call in to the Women in Money podcast and you tell me that you did that. and I scream at you. And I say, are you crazy? And you go, well, what should I do? What can I do now? You have up till 12 months after you started to withdraw your application, pay back every cent that they gave you,
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Suze School: How Much Do You Know About Social Security?
And then you just start all over as if you had never claimed. So if you made a mistake and you claimed before full retirement age and you haven't passed the 12-month mark yet, you might want to think about it. Just remember, this is only a one-time option that you can undo the claim. And the last one in this category is you can receive Social Security benefits. even while living abroad.
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Suze School: How Much Do You Know About Social Security?
March 23rd, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to listen. Suzy Oh here. And for those of you who are new and you're wondering, what is this podcast all about? It's very simple. It's a podcast that tackles your fears and puts you in control of your financial future. Just that simple.
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Suze School: How Much Do You Know About Social Security?
So many of you ask me this. And you think, okay, I'm moving abroad. Are they going to give me my money when I'm over there? And the answer to that is true. U.S. citizens and eligible non-citizens can receive benefits in many, many countries. So that's kind of the basics that you need to know about Social Security.
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Suze School: Financial Solutions if You’ve Lost Your Job
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
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Suze School: Financial Solutions if You’ve Lost Your Job
I'd like to see you put any expenses you can on your credit card and only pay the minimum payment due when the bill comes in. Remember, credit cards can be discharged in bankruptcy if you need to claim bankruptcy. You do not want to take money from a retirement account because if you claim bankruptcy and you've taken it, again, I'm repeating this, that money's gone and you have nothing. You
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Suze School: Financial Solutions if You’ve Lost Your Job
You want to maintain any cash that you have just in case. So this is a case where Ms. Orman is saying, all right, let's just use your credit cards for now and let's see how it goes. Another place that even before you touch retirement accounts, regardless of how much you have in retirement accounts, where you might want to get the money from would be if you have an investment account.
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Suze School: Financial Solutions if You’ve Lost Your Job
So besides your retirement accounts, you opened up an account at a brokerage firm, and you've been buying stock or whatever it is, ETFs or whatever that may be.
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Suze School: Financial Solutions if You’ve Lost Your Job
especially because there isn't a 10% penalty there, there isn't ordinary income tax there, if you've owned your investments for over a year, that would probably be one of the first places I would go if you're lucky enough to have an investment account to get money.
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In choosing what you should do, I would be consulting an accountant or a CPA to look at your situation, look at your taxes, what you have going on really, and make your choice from there. I know you're not going to like this next one if you don't have any of that, but you happen to put some money in a 529 plan for your kid, and your kid is still years away from college, or even if they're not,
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Suze School: Financial Solutions if You’ve Lost Your Job
you could take money from the 529 plan. And obviously, you're going to pay a 10% penalty on earnings from that account. And you're going to pay tax on the earnings as well. But depending on what you have in there and your current tax bracket, because you don't have income possibly coming in, that might not be a bad idea.
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Suze School: Financial Solutions if You’ve Lost Your Job
And in fact, that probably would be a better idea, really, than draining money from a retirement account. A lot of you have cash in an HSA account, a health savings account. That is the one place I would most likely tell you not to take money from.
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Suze School: Financial Solutions if You’ve Lost Your Job
That is because if you're under the age of 65, not only will you pay ordinary income tax on it, since it's not going to be for a qualified medical expense, but you're going to pay a 20% penalty on it as well. If you're 65 or older, All right, you're not going to pay the 20% penalty, but you will pay for non-qualified medical expenses, ordinary income tax. Those are some of your options.
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Suze School: Financial Solutions if You’ve Lost Your Job
Now, for those of you who were lucky enough to listen to me, and you actually opened up a Roth TSP, a Roth 401k, or a Roth 403b, and now you have lost your job, listen to me closely now. I just want you to see an example of what you can do to help yourself. Write this down, everybody. Let's just say you have $50,000 in your Roth TSP.
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Suze School: Financial Solutions if You’ve Lost Your Job
All right, let's just say that's true because that's for federal employees and that's who's really dealing with this right now, but it applies to everybody. And that $50,000 is made up of $30,000 that you put in, $20,000 of earnings. All When you withdraw money from a Roth TSP, it does not work like a Roth IRA.
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Any money you originally contribute to a Roth IRA, you can take out at any time without taxes or penalties, regardless of your age. In a Roth TSP, they don't do it that way. They do a combination and prorate how much of your distribution is made up of your original contributions and of your earnings. So let's just say of this $50,000 that's in there where you put in the original $30,000 and
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Suze School: Financial Solutions if You’ve Lost Your Job
I want you to put yourself in this situation. You have worked for a company for the past year. 10, 15, 20, 25 years, maybe even longer, and you feel secure, you're solid in that company. You've given them everything that you have, and they've been good to you. They've provided you with a paycheck, a retirement account, all kinds of things that have allowed you to do what? Maybe buy a home. Maybe
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And let's just say you want to take out $20,000. The way that it would work is this. You would divide $30,000 by $50,000, your original contributions, which is 60%. you would divide $20,000, which is your earnings, by $50,000, the total that you have in the account, and that would be 40%. So you want to take out $20,000. 60% of that is considered your contributions.
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You're not going to owe taxes, penalty on it, nothing, $12,000. However, 40% of that $20,000 is going to be considered your earnings. That is $8,000. So if you take this from your Roth TSP, and you are not 59 and a half years of age or older, or possibly 55 or older in the year you left service, you are going to owe ordinary income taxes no matter what on the $8,000 and possibly a 10% penalty.
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Suze School: Financial Solutions if You’ve Lost Your Job
However, let's just say you were smart and you decided to roll over all $50,000 into a Roth IRA. Two things. If your Roth IRA has been opened for five years or longer or however long it's been open, The money that you're rolling in there takes on the time period of that Roth IRA. Let's say you don't have a Roth IRA and you are opening it for the first time. When you roll it over,
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Suze School: Financial Solutions if You’ve Lost Your Job
All $50,000, $30,000 is going to be contributions. $20,000 is going to be earnings. You can take out without taxes or penalties anything up to that $30,000. It's the $20,000 that has to stay in that account for at least five years and until you're 59 and a half to access it without 10% penalty and taxes.
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Suze School: Financial Solutions if You’ve Lost Your Job
So in that case, if you wanted $20,000, you could withdraw it without any taxes or penalties versus the other situation. If you took it from your Roth TSP, you are going to owe ordinary income taxes on that $8,000 plus possibly a 10% penalty. So to save yourself that tax money and penalty, if you just simply do a Roth IRA rollover with your Roth TSP 401k or 403b, you've lost your job now.
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Suze School: Financial Solutions if You’ve Lost Your Job
You want to save every penny you can. This is something that you should look into doing. Obviously, check it with the CPA just to make sure that I'm correct. So there are things that you can do, what all of you should be doing now. However, if you don't already have a Roth IRA, if you qualify for it, you should open a Roth IRA. Even if you just deposit $1 in it, now the clock is ticking.
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Suze School: Financial Solutions if You’ve Lost Your Job
Because if you did have a Roth IRA that was open for five years and you did this and you happen to be over 59 and a half, oh, you could take all $50,000 out without any taxes or penalties whatsoever. Think about it, everybody. Last but not least, I just want to say something now about the stock market. What's aggravating me is that we've been talking about Palantir forever.
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Walmart, Amazon, all these stocks that we have been talking about that you have watched going up and up and up and up and up. And you were like, oh, I missed it. I can't believe it. It's gone. Take Palantir. It's at 120, 124. And you're watching it. And before you know it, you look at it and it's like 95, 98, 100, wherever it closed. And now you are upset.
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At first, you are upset that you didn't get in. Now you're upset if you own it, that it's gone down. Now you are upset because you didn't catch it at the bottom of 95. Some of your responses on the Women and Money Community app, which you can download, by the way, everybody at Apple Apps and Google Play. I missed it. I put in the order. I didn't get it. What is wrong with all of you?
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I'm very serious about this. You are never, ever going to buy at the bottom and you are never, ever going to sell at the top unless you are lucky. Like so many of you were upset. when you didn't buy Palantir at six. That's the lowest I think it's been really since 2022. But you were upset that you didn't buy it at six. You were upset you didn't buy it at seven.
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Then it went to 14 and then it went up and that goes up, goes down. You cannot be... an investor who has regrets. You have to be a strong-minded investor. And the first question you have to ask yourself is, do you like the company? Do you like what they are doing? Do they have a product that is needed? Are they at the forefront of creation and what's going on in this world?
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Maybe buy a car. Be able to put money away in a 529 plan for your children to send them to college or whatever it may be. And of course, if you bought a home, most likely you still have a mortgage on that home. Or you financed that car. Because very few people today, honestly, can buy anything outright.
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Is it something that will grow and grow over time? Are their earnings good? Is their management good? Do you like the company? And if you like the company and the stock has already gone up dramatically, which in this case it did, You're upset that you didn't sell at the top. You're upset that, oh my God, you didn't buy, like I said before, at 95.
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Suze School: Financial Solutions if You’ve Lost Your Job
Listen, this stock could easily go back down to 70, could go to 80. Your job is to buy little by little, no matter what it does. Yes, I bought it at 98. I also bought some at 113 before I bought it at 98. So as it's going down, I bought some, then I bought a little more. If it goes down even more, I will do so. So it's a stock that I want to own. It is a stock that I have faith in.
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Suze School: Financial Solutions if You’ve Lost Your Job
And if it goes down, I'm thrilled because I get to buy more. So I don't care if you're buying one share, a half a share, you're buying slices of shares. So if you don't have a lot of money and you want to participate in this stock, then divide whatever money you have and invest $10 a month, $5 a month. It does not matter. But do not get mad because you missed it. You missed what, everybody?
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Suze School: Financial Solutions if You’ve Lost Your Job
You don't know that it's at its lowest point right now? After it went to 95, it went back up to 105, then here we are again, and now it's back at 101. Really, everybody? Really? When a stock goes up straight, as Palantir did, you have to expect that it's going to fall back down. Nothing goes straight up. So really, I need you to be financial grownups here.
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Suze School: Financial Solutions if You’ve Lost Your Job
The goal of money is for you to be secure. And if it is making you too nervous, then sell it and do something else with your money. That's just that simple. Or sell half. or just hold on to what you already have. But don't play this game of, oh, I bought it at 98. I'm going to buy more. When I said that and I posted that, it's because if it did go down, I would be thrilled and I got news for you.
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Suze School: Financial Solutions if You’ve Lost Your Job
If it went up a little, I would still buy more. So you have got to have conviction in what you are buying and not ask each other's opinion in terms of what they are doing. You have to know what you're doing. All right, that's what I think. I still have total faith in Palantir, total faith in Walmart, total faith in Pfizer, total faith in the stocks and the ETFs that I've talked to you about.
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And it's just that simple. All right, everybody, until Thursday when KT joins us again, there's only one thing that I want you to remember when it comes to your money, and it is this. People first, then money, then things. Now you stay safe.
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Suze School: Financial Solutions if You’ve Lost Your Job
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
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Suze School: Financial Solutions if You’ve Lost Your Job
Even though you've been really trying hard to take my advice and get yourself an eight to 12 month emergency fund, put money away, make sure if anything goes wrong, you have at least eight to 12 months to get you by. Because if you do lose your job, it could easily take you eight months to a year to get another one. But even though you've been trying to do so,
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Suze School: Financial Solutions if You’ve Lost Your Job
Are you kidding me? It's the best deal out there. Start saving right now.
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Suze School: Financial Solutions if You’ve Lost Your Job
You just have maybe managed to save a month or two of must-pay expenses. You have some credit card debt, but really not a whole lot. And here you are happy because you are just getting by. Yes, yes, it's true that the cost of food and everything, your insurance policies, all of that have gone up.
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So it's costing you more and more, making it even harder for you to put money in an emergency savings account. But you're still getting by. You're not behind on anything. Maybe you have a spouse, but it's true that your spouse is now working and it takes both of your salaries to just get by. All right, everything's going along. And all of a sudden you get an email that says you're fired.
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You're like, what? Not me. Not one of the tens of thousands of people who have just been fired. Really? Really? I'm fired? How am I going to pay my mortgage payment? How am I going to pay my car payment? How am I going to feed my family? What are we going to do? Oh my God, Susie, because you've been writing me, help me, help me, help me. And I'm like, oh, here we go again.
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Suze School: Financial Solutions if You’ve Lost Your Job
And I say that because a few years ago, I remember doing a podcast when the federal government had shut down and how were these people going to get by without a paycheck. But then it was a little bit different because they were still working for the government. We knew they would be going back sooner than later.
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So it wasn't quite the catastrophe as it is now when you are not going to go back and have that job anymore. And in many of the places... It's the only jobs that are available as to where you live that pay any decent wage whatsoever. But all of you need to know, again, that it's not just the federal government that is cutting. All of these things, really, the tariffs, everything that is going on
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you can see many major corporations are starting to have layoffs as well. If you think that the price of eggs and everything might not affect the fact that your bakery or the restaurant you work for or whatever may have to close down because they just can't afford the price of goods anymore, Well, you might be facing a reality there. So all of these possibilities absolutely affect you.
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Suze School: Financial Solutions if You’ve Lost Your Job
It's not just if you lose your job or whatever. What happens if you're in an accident or you get sick and you can't work? So this podcast is for every single one of you listening. And all I can do is beg you to take it seriously that anything can happen to you at any time. So you have got to take the steps today to protect your tomorrows in case it happens. All right, everybody.
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Suze School: Financial Solutions if You’ve Lost Your Job
Suzy School is now in session. Let's just imagine that this has happened to you. All right. What you really need to do is the very first thing is you have to cut all your expenses down to nil. I know you've enjoyed going out to eat. You've enjoyed going on cruises. You've enjoyed taking a vacation here and there.
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Suze School: Financial Solutions if You’ve Lost Your Job
You enjoy going shopping, buying clothes, buying all this, going to the movies, going everywhere. Those are not must-pay expenses. Those at this point in time, when you're in this situation, they all have to go. They're gone. And I know you're going to say, but Susie, I really need to go to the gym. I need this massage once a week. I need these things. No, you don't. You want those things.
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And I understand how they play in your mental health and everything. What's going to really affect your mental health is when you can't afford to pay your rent or your mortgage or anything like that. Now, I just want you to think about that for a second.
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Suze School: Financial Solutions if You’ve Lost Your Job
When all of you stop going out, eating out, going on cruises, checking in here, doing that, whatever it may be, that starts to affect the economy. which is why you've seen the markets go down, because people are afraid, everybody. They don't understand tariffs. They don't understand the ramifications of everything that is happening right now. It's all happening so fast that it has scared them.
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Suze School: Financial Solutions if You’ve Lost Your Job
And when people are afraid, guess what? Fear is the main internal obstacle to wealth. And that's when they start selling and everything. But we'll get to that later on dealing with the market, Palantir, Walmart, and everything else that has happened back to this reality for right now.
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4.25. We are strong.
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Suze School: Financial Solutions if You’ve Lost Your Job
After you have cut all your expenses that are not must-pay expenses, I need you to take an inventory of all your money. How much do you have in an investment account? How much do you have in a cash account? How much do you have, seriously, in retirement accounts? And you're to divide them between Roth retirement accounts and traditional retirement accounts. How much do you have in a 529 plan?
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How much do you have in an HSA savings account? I need you to take an inventory of everything that you have. Where is your money? Now, I need you to take an inventory of your must-pay expenses and the income that you will be having coming in, possibly from your spouse, possibly from rentals that you have, whatever it may be. What is your shortfall.
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How much income do you have coming in versus how much are your expenses that you must pay? And therefore, the difference between those two things is the amount of money that we need to find for you. The next decision comes from where can you take it from and in what order? So you have to look at everything you have and you have to remember what I'm about to tell you.
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Suze School: Financial Solutions if You’ve Lost Your Job
Any money that you have in an IRA, Roth or traditional, any money that you have in an employer-sponsored plan, a TSP for the federal government, a 401k, a 403b, Roth or traditional, is protected against bankruptcy. So one of the biggest mistakes that you can make especially if you don't have a lot of backup places to get money. is to use the money in a retirement account to just get by.
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Suze School: Financial Solutions if You’ve Lost Your Job
And if you don't have a lot of money in that retirement account, possibly use it all up, still then not being able to pay your expenses, and then end up having to claim bankruptcy, and now you have nothing. So you need to look at the amount of money that you have in your retirement accounts, versus the amount of money that you need every single month to just get by?
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And how long will that money in the retirement account last you? If it's going to last you under eight months, you are not to take the money from there. Do you hear me? If it's going to last you two years, five years, whatever, you have a lot of money in there, okay, that may be a source of where you get the money from, but you have to think about it carefully, all right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
If you have money in a retirement account, and that retirement account happens to be a traditional one, all pre-taxed, because you did not listen to Ms. Orman. You did not go the Roth retirement account route. You wanted your tax write-off at the time. All right, this is what you need to know. If you are 59 and a half years of age or older,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
any money you take out of a traditional retirement account pre-tax, you will owe ordinary income tax on that money. You will not owe, however, a 10% penalty. In most cases, if you're under 59 and a half and you withdraw money from a retirement account that's pre-taxed, of course you will owe ordinary income tax, but you may also owe a 10% penalty.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
Unless your retirement account is an employer retirement account, it is a TSP, a 401k or a 403b, listen closely. and you are under the age of 59 and a half, but you are 55 years of age or older in the year that you lost your job or you left service. Now, what that means is, as you're listening to me, you may be 54 right now, but you will turn 55 before or on December 31st of this year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
If that is true, any money that you withdraw from your employer-sponsored account, you will have to pay ordinary income tax on it, but you will not have to pay the 10% penalty. it only applies the 55 or older rule to money that you have in an employer-sponsored plan. So if you take money that is in your TSP 401k or 403b and you do an IRA rollover with it,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
and you are going to be 55 years of age or older, you're not yet 59 and a half, but between those ages, and you do an IRA rollover with it, in most cases, you cannot touch that money without the 10% penalty. Now, there are things that you can do if you did that called separate and equal periodic payments. But trust me, you do not want to do that. All right, everybody, it is complicated.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
You could possibly get yourself in trouble. So it would be far easier for you just leave the amount of money that you know you want to access from an employer-sponsored plan, in the employer sponsored plan. If you happen to have a lot of money in your employer sponsored plan, and you want to roll some of it to an IRA rollover, and you are going to be 55 or older this year, okay,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
But leave the amount of money that will at least last you for a year or longer in the employer-sponsored plan. So that is a place that if you do withdraw, you're only going to pay income tax on it. But remember, you've lost your job. So your income taxes aren't going to be that high this year. Because even if you are with spouse who's earning money, your income has gone down considerably.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
February 23rd, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to listen. I would highly suggest since today is Susie school, for you to take out your Susie notebooks. If you don't have one, I most certainly would take out paper and pen and write down the things that I'm going to talk to you about today. Let's first go to a Susie story.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Financial Solutions if You’ve Lost Your Job
So just something for you to think about. For those of you who only have a little bit of money within those retirement accounts, whether it's your IRA or not, before you use any cash, before you take money out of any retirement account, I would like to see you, I know you're going to think I've lost it here.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Financial Decisions For You
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Financial Decisions For You
And I promise you, these rates are not going to last longer, in my opinion, than one week. So go to myalliant.com right now for money that you want safe and sound. Be smart and do it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
The main difference that I think I have right, you'll have to tell me, but that most people aren't quite grasping is that dollar cost averaging was very simple for them. They picked a specific amount of money and they pushed automatic. And every month, that amount of money was taken out of their money market accounts to buy stock. Right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
What they're missing, however, is with value cost averaging, even though in both cases, as the stock goes down, you're buying more. Mm-hmm. And obviously, as the stock goes up, you're buying less. Mm-hmm. But with value cost averaging, you're getting a little bit more than with dollar cost averaging because you're not sticking to the same dollar amount every month. Bingo. Say that again.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Say it again.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Bingo, bingo, bingo. And that's what they're missing. You want to get more value for your money, everybody. You don't want to go on automatic and just, oh, I'm going to invest $1,000 a month or $100 a month. When if you just invested $120 a month...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
you would be getting a few more, even if it's a half a fraction of a share more, that half a fraction of a share more will make you a whole lot more money in the long run. And that is what they are missing. So again, just to repeat another question, maybe I missed something. What if month four, the value is at $4,000, then you don't buy any more shares?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So in fact, you might not actually invest the whole $12,000 in one year because the account value has increased. They forget. Well, you tell them what they forget, what they could do with that money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Or you could take that extra money that you're not investing in stock A and possibly start to do the same thing with stock B or another ETF. So you don't have to just stick with one stock and just go, oh, now what do I do? Are you starting to get this, everybody? You've put yourself into a box. And the last thing both Keith and I want you to do when it comes to investing is limit yourself.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Investing is about expansion. The investing is about understanding your own emotions and really keeping them at bay and thinking, oh, I've done something wrong. No. No. Just keep listening and you'll get it. Last one on this, which is maybe I'm not completely understanding it, but it seems that in this example... Why did I give this example anyway?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Of having $12,000 to invest that if the stock price is decreasing for several months or there is a steep drop, would you deplete your $12,000 before month 12?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Because today, Susie's School, we're going to have a guest. It's not going to be just me. I'm going to pretend like I'm KT, and I'm going to be asking the true expert when it comes to certain things about value cost averaging, dollar cost averaging, and, oh, all kinds of other things that you wrote in and asked about. Before I introduce the most extraordinary and amazing
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So, To answer his question, though, the chances of him being totally out of money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Because remember, everybody, these markets aren't going to tank overnight 50 or 100 percent. And if you keep being diligent and You're investing, you're investing, and you're investing. And now you're out of your $12,000. It's all spent. But you haven't lost the money. It's invested in a stock that you wanted to buy that was a good quality stock.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And the reason that it went down isn't because the stock itself was bad. It's that all the boats were sinking because the water went down when it turns around. And a great example of this was 2009. You know, when the Standard & Poor's 500 Index, I think, was at 600 and all these stocks were at nothing. They had all gone down incredibly.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And if you just kept them and now you have a whole lot of shares because they got so cheap as you were buying them, oh my God, you made a fortune over the next years. So you're not out of money. You've invested all the money that you designated towards that stock. And once that amount of money is designated, you bought all the shares you can with it. Good.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
You have to wait till I say his name. But anyway, last Sunday, I did an episode on value cost averaging. On the Women & Money Community app, I put up an example of how it works. Boom, there goes my email. And on the Women & Money Community app, and you had question after question. And I'll be honest with you, I'm not good enough at that. because it isn't my concept.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And they're also, if they're smart, they're listening to you. You're very kind. So one last about this, then we'll quickly go to Palantir and other things. But All these people did this, Monte Carlo. I mean, some of these people went to the 10th degree to figure out what's better, dollar cost averaging or value cost averaging. Yep, yep.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And they want to know as if it makes really a tremendous difference. So just briefly, can you answer that for these people?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Yeah. So for those of you who wrote in to me, and I appreciate it, and you present like, I ran this Monte Carlo, which is, it's a program that I don't know. I've yet to really think that it comes out with the best answers for all of you, but that's besides the point.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
But, you know, it's so funny. These people write and they're so proud at the research and the things that they've done. I just want to say something to all of you. I'm thrilled that you're doing that. And you come up with your own conclusion based on maybe one study or whatever. I'm asking you all now to listen to Keith. For 40 years, he has been doing this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
When he says he's a propeller head and a nerd, oh, he is. Half the time he's talking about things and I'm like, what the hell did you just say? But you can run your own if you want. Or You could take 40 years of experience and millions of dollars of research. computerization that none of you have the ability to do truthfully and listen to what he just said.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
He has nothing to gain other than to help you help yourself. We're switching. Now we'll run this podcast a little bit longer than normal because we have the master here. And I just want to answer the main things you want to know, which is ready for this drum roll. There we go. Is it too late to buy Palantir?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
I thought you were going to say no way. But anyway, if he were just talking to me alone, everybody, he would have used the word. But since we're on a podcast, he's trying to show you he's a dignified man, which he is. You're very kind.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Remember, I was taught it by somebody, our guest. And I decided, you know what? All of you always deserve the best. You deserve the most knowledgeable in certain areas. In fact, in all areas. And in this particular area that we're about to talk about today, which isn't just about value cost averaging, but it's about the markets overall. It's about individual stocks.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Anyway, go on. Go on now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So another question is, how do I know if I'm investing too much in Palantir? I don't know. I think you can't invest enough in it, but that's just my opinion. Go on.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
The next one is that if Palantir has doubled on you, and the truth is many of these people bought it at 20,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And now here we are almost 100 points higher. And now they're afraid. So should they be selling? They're just freaks. Should they do free trades? Any advice to them?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Thank you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
It's how to make your money, make more money when it comes to investing. There's, in my opinion, the one and only, Keith Fitzgerald, and he is with us right now. Good morning, boyfriend.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Thank you. Thank you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Thank you. Thank you. Thank you. Thank you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
This is going to be great. This is great. And you know, so many people, Keith wrote in and they said, we wish this could be on video. We want to see both of you. And then they would write in and they said, why don't the two of you always do a podcast together? Oh my goodness. All right. So maybe we'll have to do that. Let's think about it. That would be so much fun, wouldn't it? All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Thank you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So everybody, if you don't, know about value cost averaging, then you need to go back to last Sunday's podcast and listen to it. You just do. But so many of you have already listened to that podcast. Therefore, I'm going to ask you, Keith, some of the questions that were on the wall and people wrote in. They want to know about it. But then we're going to switch.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
It will be the easiest and most profitable thing for you to do because you don't have to worry about it. You're on vacation. You don't get the email. You don't do it. And given the emails that I've gotten about value cost averaging and how do you do it if you have a whole lot of stocks and I only want 4% of my port?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
No, just you can do what you want with your stocks, but there should be a sum of your money that can be under the ETF rate. doing it for you. What do you think, Keith?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So I hope all of you enjoyed this podcast with the maestro. Before we go, anything else you want to say?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Because people are also writing in and going, Keith, I bought Palantir at $20. Should I buy it more now? I mean, we have questions all over. But then I also want to give you a little time for you to tell everybody what you want to tell them. They're also asking about... Is a program going to come out? Is it not going to come out? So let's answer all their questions today. Outstanding.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Thank you, Keith. I love you so much. I can't even stand it. I hope you had a good Valentine's Day too. We did and right back at you. Love you, Susie. All right, everybody. So there's only one thing that we both want you to remember when it comes to your money and it's people first, then money, then things. I hope you enjoyed today. I hope you all stay safe and know that together we will rise.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And let's hopefully make them happy. Now, I'm going to start off easy here for you. Okay. All right. The first question, which I find fascinating, is kind of generic. Doesn't everything depend on the day that you invest your money and where the stock is on that particular day?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Great. There's one next. Looking forward to hearing from both of you together. Yeah, baby. Here we are together. I know. Is there a more, and you kind of just answered this, but I'm going to keep drilling this in because I'm telling you, people blew their minds with the details and really the minutia. And it's really a little bit ridiculous, I have to tell you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Because they think you have to stick to a certain formula. You can't. It's like they've put themselves into this little box that they're afraid to come out of now. So, ready? Looking forward to hearing from both of you together. I don't blame you. Is there a more ideal time of day? To invest, the market open, the close, and for VCA, does it matter what time of month?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Also, what about dividing funds for weekly or biweekly or stick to monthly? See what they've done here.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So it's like they're thinking that everything... has to be a certain way. Like when I gave the example last Sunday of $12,000 and $1,000 a month, they literally took it that they needed $12,000 and they had to put in $1,000 a month. So first of all, everybody, that was just an example last week. It's just an example. So you could do it with any amount, but that's the question. What's your answer?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
And the thing is, is that does it matter if it's weekly, bi-weekly, or should they stick to monthly?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Yeah. But do you see what I mean? Oh, sure. Getting into the how often, whatever. This next one is kind of about the what ifs. Do you have to then assign how much money you're allocating to each share in your portfolio at the beginning of the year? So people are confused about, well, I gave an example. You have $12,000 to invest. And again, they freaked out. So the question is, here we are.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Maybe it's March. Maybe it's April. How do you start doing this? And how do you know how much to allocate to do this with?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
So it's not like you have to have a specific amount of money, like $12,000 that you divide by 12. So you have to invest $1,000 a month, whether it's dollar cost averaging or value cost averaging. you can change as time goes on, correct?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Where everybody seems to be confused because of the example that I gave. Welcome to my world. Right. Which is with value cost averaging. Sure. You look at the value that you intended to have, as you know, every single month. And you invest according to that, depending on the stock price.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
Again, for those of you who don't know what I'm talking about, listen to last Sunday's podcast, or look at the example on the Women and Money Community app. So this now is using that example of $1,000 a month, $12,000 at the end of the year for your target value. Here is the question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
I'm getting a little confused around month six because everybody obviously in month six, your target value at $1,000 a month would be $6,000 for that month. All right. I thought the target portfolio amount for month six would be $6,000, which I think is the actual portfolio value. If the stock is at $120 a share, which we said it had gone back up to,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
then that means that it's already at $6,000 and we don't need to add any more money for that month. So what do we do?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Suze Talks "Fitz” - Don’t Miss It
February 16th, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to listen. I hope you had a good Valentine's Day. Did you? I did. But we'll have to wait until Thursday when Miss Travis can tell you all about it. But for now, I think you all should get out your little Susie notebooks. And today's Susie School is going to be very, very different.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
So why, once again, am I choosing to talk about this on the Women and Money podcast, as well as Everyone Smart Enough to Listen podcast? If you're really smart enough to listen to this podcast, and you're really somebody who has been with me for all these years now, or maybe you're brand new to learning about me, what does money matter when you yourself aren't fulfilled?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
When you are in a relationship and And you don't have any joy. You don't have any freedom. You don't have any trust yet. You decide to stay. And many times you decide to stay because you have a two-year-old child. Now, I wrote this woman back a very long answer. But here are the things that essentially I wanted to point out. What really got me was she had a two-year-old child.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And I wrote her and I said, don't you think that every time you pick up that child and you hold that child to your chest, that the child can't feel that something is wrong, that mommy isn't happy, that mommy's in a relationship that she really doesn't want to be in. And you really think that that you're staying and it will benefit your child?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Don't you think that you may be teaching your child that you stay against all odds, you give up anything that could mean anything to you, you ruin your own life and you do that for your children? If your child was you and coming to you right now and was in a relationship like you're in right now, what would you say to your child?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Once you say to your child, honey, please come home, live with me, get divorced. It's over. Come on, let's create a great home together in love, in trust, in integrity, not just for you, but for the child as well. And then we have a situation where mommy and daddy want to buy a home with this woman. But the woman doesn't want the husband's name on the home.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Here's something all of you really, really need to remember. When you are married and you are making money after you are married, especially if you do not have a prenuptial agreement,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
all the money that you may be saving in this account that she says she opened, in her 401k where she works, all of these things, if they get divorced, the longer they are married, chances are half of that money is going to go to her husband in this particular case. So the longer she postpones doing that, which she knows she should do for herself,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
the less money she is going to have in the long run. And if she happens to buy a home with her parents, even if his name is not on it, he's going to own half of what she has within that home if they get divorced. So what is the story that we're writing here, everybody? What are we postponing?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
When your story reveals to you the truth of what is going on in your life, you cannot postpone making a decision over it. Because if you postpone it and postpone it and postpone it and postpone it, you are the one that financially is going to suffer big time, especially if you are legally married. Now I get when a relationship goes off the charts and you try and you try to make it better.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
But if three coaches have left him, if he's still not willing to show you his tax return, if he's trying because you forced him to try, do you really think this is something that you want to stay with? My advice to her was a very interesting piece of advice. It was very simple. It was, I would immediately divorce him.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Once you divorce him, you now have stopped the clock on all the money that you're going to accumulate in the future or with your parents where he will no longer be entitled to it. Next, if you want to stay with him, okay. If you want to continue to be abusive to yourself and in the long run, your child, in my opinion, okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
But at least financially speaking, you have now cut the cord that binds the two of you with your savings, your retirement account, your real estate, whatever it is that you may purchase. It cuts that cord and it gives you that freedom. And that is the freedom that you gave yourself. And the other thing is this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Do you understand that because you are married and you have to file separately, you cannot take advantage of so many of the retirement accounts out there that are what I consider the best retirement accounts in the world, and that is a Roth IRA. Because you can't make more than $10,000 a year of adjusted gross income if you are married filing separately to have a Roth IRA.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
So there are things that you aren't able to participate in. Why? Because he has forced you in your mind to file married, finally, and separately because he won't show you his tax returns. And why won't he show you his tax returns? Why? And how does he file? What if he files married, finally, jointly and forges your name on those tax returns? What if he is doing that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And that is the reason why he does not want to show you his tax returns. What if that's possible? So the reason I wanted to tell this story is that I wanted bad ending stories to stop. And here's what I'm asking all of you to do. I want you to pick a story that you are living, a part of your life that you're really not happy with.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And everyone has a part of their life I would imagine that they're not happy with. So I want all of you to write down your story. What part of your life are you living that you don't like? And then I want you to read it back to yourself. And I want you to pick out the phrases like I did for you in this podcast. where you're blaming somebody else for the situation that you happen to be in.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And if you find that as you're reading your story, that you're using words like, they forced me, I did this, whatever it may be. then this is the time for you to rewrite your story. Because every story that you live, everyone should be happy, should be fulfilled, should be something that you learn from. There's no room in this world right now for sadness or anger or to be vindictive.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
There's no room anymore. It's almost as if this entire world is filled with anger. We're angry because we're in a relationship that we don't like. We're angry because we're caretakers and we've been caretakers now for a long time and we don't want to be a caretaker. We want to live our own life. I don't know what it is, but you have to write your story.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And after you have written your story, I want you to really look at it. And then I want you to rewrite it without blame or shame. I want you to rewrite it in a forceful, positive, courageous way. And that's the story that I want you to live. Because the true bottom line is, until you know who you are, you can never have as much as you are meant to have.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Until you can be truly happy, you can't really be strong. And if you can't really be strong, you can't really then live in your truth. And truth is what attracts money to you. There's so many reasons that I want you to do this exercise. So until Thursday, write your story and let me know how it goes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
I got an email. And as I was reading this email, I thought, oh my God, this is the podcast today. Because behind every one of our financial problems, there is a personal story. There is something that's going on within us that causes us to create an outcome that we do not want to live. And yet, somehow, we don't even recognize the role that we play in our own stories.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
So the question today really is, what is your story? What is your true story that you are living, that possibly you created, that possibly you have been put into, but yet you stay there? What is your story? So as I read this story, I'm going to be pointing out things in it to show everyone how we on some level help create the story that we are living that we don't want to be living.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And it goes like this. Hi, Susie. Now, I've interviewed you a few times, but this is a very personal one. I'm in a bind. And please do feel free to use my story to help others. You have my permission. Just don't use my name. Now, before I go into this story, and I'm going to keep breaking this story up so I can talk to you about it, about things that I've noticed that maybe you'll identify with.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
This is a really, really brilliant woman. really. She has interviewed me and she's written some brilliant stories from the conversation that we had. And as hard as it is to figure out money, at least in our own mind, what's really hard is to be able to use proper English and write and be able to communicate that which others need to hear.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Now, she was totally capable of doing that, but she couldn't even read the writing that was on the wall in the relationship that she happens to be in. So here goes her story. She says, my husband has been a nightmare with his finances. I keep everything separate to protect myself as a result. Secrecy, lies, and overall poor budgeting and overspending wrapped into one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Now, before I go on, she says, my husband has been a nightmare with his finances. She knows this. She gets this. And she keeps everything separate to protect herself as a result. That is the foundation of her story. Are you living a life like that? Do you recognize something that's going on in your relationship?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And you have to do something because you have to protect yourself, whether it's physical abuse or financial abuse or whatever it may be. Are you living a story where on any level you have to protect yourself? Because if that's true, then you are building a foundation out of fear and nothing good will come from that. Nothing.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
She goes on to say, since the start of our marriage five years ago, five years is a long time, everybody. He has refused to file taxes with me. At first he told me it was because I work in New Jersey. When I started to work in New York City, he continued to be evasive. He also refuses to show me his tax returns. So therefore, I'm forced to file married filing separately.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
I'm going to stop here again for a second. I'm forced to file, married filing separately. It's because of his actions and what he is doing. She's forced to do something that she really doesn't want to do. Is that your story, any of you? But that is the first indication where in this email, she's saying that she was forced to do something. Nobody forces you to do something.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
You recognize a situation and then you choose to do it. And if they're forcing you to do it, now we're in an abusive relationship. But he's not forcing her. She's choosing to do that because she's choosing to stay. When I was four months pregnant, so now we have a child entering the situation, I discovered he mortgaged an investment property and received $30,000 of cash from it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
I found this out while accidentally opening his mail. Now, you accidentally open up somebody's mail, your husband's mail, and you see that he got a lump sum of $30,000 that you never knew about. I open up KT's mail all the time. I look at KT's emails all the time. I look at her texts.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
I look at everything just because I want to make sure that she's up to date with everything because a lot of business stuff comes in, but never in a million years and vice versa, by the way. My email account is on her phone. Her email account is on my phone. Total transparency, everybody. There are no secrets. There isn't accidentally opening up a statement.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
If I want to open up a statement, I open up a statement. But she even uses the words, I accidentally opened his mail, which also says, he has said to her, don't you dare touch my mail. Don't open up anything. What's addressed to me is mine. What's addressed to you is yours. Don't touch it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
So I find that fascinating that we're even seeing right now a relationship where she's four months pregnant and and things are still secretive. Things are still hidden. And she finds out about something that she never had any idea. Don't you think that is a serious warning sign? A warning sign where the story is, something's not right here. I don't have freedom in this relationship.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
I can't just be and say anything. I'm living by his rules. And And his rules and actions are absolutely exclusive of me. And I'm allowing that to happen. I'm now starting to write my own story where I'm abusing myself because I'm staying. Do you understand, everybody, what I'm saying to you and why I find this email so fascinating and so sad? When a brilliant woman... does that to herself?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And the question has to be asked and answered, why? Why do we do that to ourselves? What are we afraid of? Are we afraid of leaving and going out and being on our own? Are we afraid of hurting somebody? Are we staying under the pretense of he's a good guy or she's a good woman or whatever? Why? I'm asking you to ask yourself these questions, whether they apply to you or somebody that you know.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Because stories like this have to be revealed and understood so that situation can end. Because if it doesn't end sooner than later, it ends up really, really bad. She then goes on to say, However, the house that he refinanced has since sold for $300,000 above original price. He says he didn't get any money from it, however. And then she goes on to say, I have trouble believing that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Let's underline that. I have trouble believing that. Why are we staying in a relationship with somebody that we don't believe what they are telling us, where we can't open up mail freely, where we can't see their tax returns? Why? What pulls us and keeps us in that story? But then she goes on to say it gets worse. In July 2020, I saw $42,000 from Charles Schwab hit our joint account.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
He immediately raided the Schwab in the amount of $48,000 to buy a Porsche and didn't tell me. I'll let that sink in for a second. How would you feel if you had a joint account with your spouse and all of a sudden from nowhere, you see $42,000 enter that account and you're like, whoa, where did that come from? that's a lot of money. What are we doing here?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
And then all of a sudden, as quick as it comes in, you see it disappear. And why? He buys a Porsche with it. And he doesn't tell you. But the reason you find out is because now it's sitting in your driveway. How's that make you feel? What do you think about that? Why is that a story that you still want to be a part of? She goes on to say, I threatened divorce and ordered him into therapy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Problem here, she ordered him into therapy. He had no desire to go into therapy on his own because he didn't think he was doing anything wrong. In the meantime, this woman is now living a story that she really wishes she wasn't part of. And so she takes her last shot at it and says, you are going to therapy. and he has been going weekly now for seven months.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
At the therapist's urging, he has shown me some bank and credit statements. Please note, everybody, it does not say he has shown me all of his bank and credit statements. Some of them, he has showed her his pay stub and miscellaneous expenses like his car note. However, He still refuses to show me the tax returns or be transparent enough to work with a financial coach to help us get back on track.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Three coaches have refused to work with us after reaching an impasse with him. three coaches have said, you know what? I'm out of here. He isn't somebody that we can work with. So this is why this woman now has written. And she says the following. My question is this. I I am a smart girl about my money. And then she says, thanks to you. I like that part of it. However, some days I want to leave.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Some days I want to stay. Now here is the key to this email. I'm really trying to make this work as we have a two year old child. And now we know why she's really staying. She's not staying because she loves him. She's not staying because she likes him. She's staying because she has a two year old child. She says, She says,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
Is there any possible way for me to remain in this marriage and be in a financially healthy, she doesn't say emotionally or psychologically, all she says is financially healthy, as if money is the only thing that matters. a financially healthy place with everything separate with us not filing returns together.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What Is Your Story?
I save as much as possible and I have opened up an account with, and then she names a brokerage firm and it's doing well. One day I do plan to buy a home with my parents and But his name, if we remain together, would not be on the mortgage or the deed. Okay, that's it. I'll take all the straight talk you have to give. All right, that's the email.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
We're just going to say that the stock rises to $120 a share. And it's going to stay there for all seven months. So you are going to have to invest essentially $1,000 a month for the next seven months to keep your portfolio value at where it should be. Just that simple. Now, by the end of the year, you are going to own 108.31 shares at $120 a share is $12,997 at the final price.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Now pay attention here closely. The lump sum at 100 shares at $120 a share, you only have $12,000. Dollar cost averaging, you have 107.74 shares. At $120 a share, you now have $12,928.80 in your portfolio. Value cost averaging, even after all that work, you have 108.31 shares. At $120 a share, you now have $12,997.20. Lump sum, value cost averaging, you're $997.20 ahead.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
But compared to dollar cost averaging, you're only $68.40 ahead. Now, While that's only a little bit of gain, as I said previously, what you really have to understand is these were just numbers that I picked out of the hat so that it would make it easier for you to understand. But I can tell you
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
That Keith Fitzgerald, who I think is a genius when it comes to picking stocks, to how to do things, he loves value cost averaging. He's able to automate it, all of that. But in the long run, depending on what the stock does or the ETF does, value cost averaging can really make you more money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Wait, how long have Kolo and I waited for this day?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Now, again, a lot of you are going to look at this and say, I don't know, Suzy, that's a whole lot of work. And I can tell you, I can see KT's face. Don't, no, no, no, KT, don't say anything yet. No, no. She's just sitting there and she's got... her little finger above her little lips. But anyway, okay. I get that it's small. But again, more is always better than less.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Just remember that I said that. By the way, I'm going to put an example of this, a written example of this, up on the Women and Money Community app that you can download by going to Apple Apps or Google Play. It's written out for you so you can see the main point of me doing this. is just so that you can understand the difference between lump sum, dollar cost averaging, and value cost averaging.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Okay, KT, take it away.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
No, you have $12,000 to begin with to spend. You have it. It's sitting in a money market account. There is no way you can run out of money because the more the stock rises, why are you laughing? Why are you laughing?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
It's a lot of work. But it's not that much work. It sounds like a lot of work. Well, you have to pay attention every single month. When you go to actually invest KT, all you have to do is remember what your target value goal is. which I set that myself, right? Well, obviously, if it's $12,000 divided by 12, it's 1000 a month.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So you know, by the third month, you need to have $3,000 of portfolio value. That's why it's value cost averaging value in that account. With dollar cost averaging, you want to just invest $1,000 a month. And see what it buys. Right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
With value cost averaging, you're getting more value for your dollars. Because when the stock goes up, you buy less. When the stock goes down, you actually buy more. And in the long run, you make more money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So all you have to do, everybody, if you're going to do this, which I suggest you start doing, is just look at how many shares you own, what those shares are worth, what your portfolio is worth that month. If it's the third month, the portfolio needs to be worth $3,000 if you're doing $1,000 a month, so to speak, value.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And you just top it up in terms of how many shares, how much do you need to invest dollar wise to make the portfolio worth $3,000? And what will the dollars that you need to top it up with buy in shares?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Yeah, 20 some odd years. KT, you have to get that you have been watching football, Super Bowls with me for over 20 years. So don't go blaming it on that you're a newcomer when it's 20 years old.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I just want Kansas City.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Patrick, Susie's watching you. I got news, everybody. If he wins this Super Bowl, he's going to be the very first $1 billion man in terms of a contract.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
In my opinion. Do you think? Without a shadow of a doubt.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
He then will be the goat over Tom Brady in terms of Tom never won three in a row.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
History. So everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
All right. So everybody, there's only one thing that I want you to remember when it comes to your money, and it's this. Value cost averaging is better than dollar cost averaging. That's all I want you to know. All right. Go Kansas City. Bye-bye.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
No, you're somebody who, just like with a Roth IRA, you refuse to get it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
What isn't true?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So did you all like my little Susie thing that I put out yesterday, everybody? You know, that little character?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
My moji.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Your football moji. I love it. That was so sweet. Oh, my God. I loved it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And everybody, do you know why it didn't work?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Yeah. On an emoji. Can you imagine?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
This is from an emoji. Wait, Katie, tell them about the little ad we did the other day for the- Oh my God. So everybody, the Ultimate Retirement Guide for 50 plus is finally coming out in paperback. on February 18th. So Barnes & Noble, they all requested, would I just do a little blurb on it? Just tell everybody about it. Tell them what I did, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
It would be a three-peat. That's what it's called. Three times he's done it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Pat Riley owns the trademark on that word, by the way. Does he? I think so. One day you'll have to tell when Pat Riley called, but that's besides the point.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Okay. Today is Susie's school, however, KT. Yes. And this is where I think it's important that people know the difference truly dollar wise between three different ways to invest. One is lump sum investing. One is dollar cost averaging, which I've been talking about for years. And the third is value cost averaging. So are you ready to get out your Susie notebooks?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
You need to write this down for this Susie school. Okay, so now listen, KT. Now just wait, don't say anything. I can see you want to say something. Don't say anything. I'm going to give a detailed example now. where I am actually going to use numbers and compare lump sum investing with dollar cost averaging with value cost averaging.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
All right. So let's just say you had an inheritance, you got a bonus. I don't know what happened, but all of a sudden you have $12,000 that you want to put into the market. Now, whether it's an individual stock, an exchange traded fund, it does not matter. But let's just say you want to invest $12,000 in an ETF, an exchange traded fund. Let's just say that's true for right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And the ETF or the stock, whatever it may be, is trading at $120 per share. For lump sum investing, you simply take the entire lump sum of $12,000 January 1st of, let's just say, 2024. And what do you do? You buy 100 shares of this stock or ETF. And And therefore, you're done for the year. You bought it. You don't do anything else. And during the year, it goes up a little.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
It goes down maybe a lot. It's all over the place. But at the end of the year, it's back to $120 a share. That means at the end of the year, after 12 months, you're your investment is still worth $12,000. And you're kind of happy, because at least you're not down, even though you're not up, you haven't lost anything. Dollar cost averaging.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
This is where you take the amount of money, the $12,000 that you want to commit for this year, But rather than investing it all at once, you divide the amount you want to invest for the year by 12, 12 months. So what that means in this case is you divide $12,000 by 12, and you now know you are going to invest $1,000, a fixed $1,000 every single month for one full month. year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And let's say you start to do that. The very first month, you're going to invest $1,000. And this stock or ETF is at $120 a share. That allows you to buy 8.33 shares, just simply divide 1000 by the price of the share, This case, 120, and that gives you the number of shares you can buy. In month two, it's at $100 per share. You now are investing $1,000. So 1,000 divided by 100 is 10.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So that allows you to buy 10 shares. Now it goes down to $90 per share. So you can buy 11.1 shares with your $1,000 the third month. The fourth month, it goes back up to $100 per share, allowing you to buy 10 shares for your $1,000 investment. Month five, it stays at $100 per share. Month again, allowing you to buy 10 shares. And just for ease here, let's just say month six through 12.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
It goes up big, it goes up 20%. It goes up to $120 a share again. So each month, you get to for your $1,000 per month, you get to buy 8.33 shares. And So at the end of all this, you have approximately 107.74 shares at the ending value of $120 a share. So now you have $12,928.20. Now this is a gain compared to lump sum investing.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Which is why over all these years, I've been telling you all to do dollar cost averaging. However, value cost averaging is something that I have been trying to figure out. Keith Fitzgerald absolutely loves it. He's been able to automate it, just so you know. However, it's something that I really had a hard time figuring out. So I sat down and I really put my mind to it and I finally get it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Now, even though in this particular situation, you're going to see it's not a lot of difference. But remember, the goal this year is to make your money make more money. But any amount of money that's more than something else is more money. So just listen closely now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
With value cost averaging, instead of investing a fixed amount each month, like we just did, $1,000 a month with dollar cost averaging, you adjust your investment to maintain a target portfolio value value. as if you had invested $1,000 per month. So you want your portfolio value every single month to go from $1,000
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
to $2,000 to $3,000, all the way up to where you had essentially invested $12,000. But you want that to be the portfolio value every single time. All right. So are you ready now? Month one, the stock or ETF is at $120. So these are the exact same share prices as dollar cost averaging, all right? Month one, the stock or ETF is valued at $120 a share.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And you want your target portfolio value to be $1,000. So you are going to invest $1,000 and you're going to be able to buy 8.33 shares. But now month two, it drops to $100 and So your portfolio value, though, is only worth at this moment in time $833. That's because in month one, you got to buy 8.33 shares. Now when you're getting ready to invest again, the stock or ETF is only worth $100.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So your portfolio is worth only $833. And But this is your second month, and you have a portfolio value target of $2,000. So to reach the $2,000 target, you have to subtract $833 from the $2,000 portfolio value target. And that means you are short by $1,166.67. So you now have to buy 11.67 shares of the stock or ETF. Did that make sense to you?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
In the first case of dollar cost averaging, you always are investing a fixed $1,000. Here, you are changing the amount that you are investing every month so that you can meet your target portfolio value, which is going to go up by $1,000 a month. month three. Now the stock drops to $90. But now remember, you have a total of 20 shares at this point.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And therefore, at $90 a share, your portfolio value is only worth $1,800. But this is the third month. So you're supposed to have $3,000 in So now you're going to have to invest $1,200 or 13.33 shares to bring the entire value up to $3,000. So now you have a total of 33.33 shares. Are you getting this, everybody? I'll do a few more. Month four, the stock now, let's just say, goes back to $100.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
And because you have 33.33 shares, your portfolio value is $3,333.33. But this is month four, and you're supposed to have $4,000. So if you subtract $3,333 essentially from $4,000, you have to invest $667 approximately so that you can buy 6.67 shares. But now you have a total of 40 shares, but again...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
February 9th, 2025. Welcome everybody to the Women in Money podcast and everybody smart enough to listen. Today is Super Bowl Sunday and Susie School with KT. KT, it's Super Bowl Sunday.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
40 shares is going to give you $4,000 of an investment portfolio value, because it's worth $100 a share. Month five, it remains at $100 a share. So now though, because it's month five, and you need to have $5,000 of a portfolio value, you're now going to buy 10 shares. All right, you have a total of 50 shares. But now month six through 12.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently, they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
You just don't want gains. And then what are you going to do with them? Okay. You want wealth. Now that doesn't mean that when a stock skyrockets, that if you need the money, you don't take some off the table, especially if the stock has gone up so high that it's now creating too big of a position in your overall portfolio in just one stock.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
In English, maybe you have too much money at risk and then you have to take some off the table to invest somewhere else or put in a money market fund, keep it safe and sound. And if the stock happens to tank again, you buy it back. But you have to understand when do you keep a stock, when do you sell it, and when do you add to it? Now let's go back to Palantir.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
One of the reasons Palantir obviously got hit so hard, went all the way up to 125 way too fast, then now is down at 85. That is a dramatic decline, everybody. But if it never had gone up to 125 and it was just at 85, all of you would still be absolutely thrilled given that many of you bought it at 10, at 20, at 40, or 50, and you would still have a tremendous gain.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Those that are freaking are those that it went up to 125, then it went down, you bought some more, maybe like I did at 113, then it went down some more to 98, and maybe you bought more like I did at And now, as I said in a podcast, I think it was last week, don't be surprised to see it at 75 or 85.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Then it went down and I'm buying some more, but I have the funds to continuously to buy more in large chunk moves. 113 to 98 is a good move. 98 to 85, that's a significant move. So I bought more. And if it goes from 85 to 75, I will buy more. But the big question at hand is, do you continuously have money to buy more.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Because if you don't, you have to be selective when dollar cost averaging as to how often do you buy it because you're not going to catch it at its bottom. Again, this stock can go anywhere it wants to. So you have to decide. You have another $300 that you can put into Palantir totally.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
So all right, put $50 at a time in it so that you have at least six more times that you can buy the stock if it continues to go down. Are you understanding what I'm saying? Where you get in big trouble is if you bought it at $125 and you don't have any more money to put into it. And now you're down at $85. That
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Second, I'm going to touch on interest rates, then the stock market, and I'm sure many of you are just freaked when it comes to Palantir. even though I told you, don't be surprised to see it down at 75 or 85, but that's another story. And if we have time, I will touch on real estate. So let's begin. Have you been watching interest rates? Oh, you haven't, have you?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
is a serious mistake, everybody, which is why dollar cost averaging is absolutely essential. Value cost averaging is absolutely essential. And that is why in markets like this, you do not, and I repeat, you do not want to do lump sum investing, which means, oh, I have to buy the stock I just have to buy it. It's at 125. It's going to go to 150. I already missed it. And you buy it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
And let's say you had $5,000 to invest in it and you put all $5,000 in at once. You cannot make a bigger mistake than that. And you may think that you're doing great if it continues up, but not on a stock that has gone straight up. Are you understanding? So am I freaked about Palantir? I am not. Do I wish it had stayed up there?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
No, because I like that it's come down because I can keep buying more, but I have the funds to do so. So the question at hand to all of you, do you have the funds to do so? And do you have other stocks besides Palantir? So you just need time. But besides time, you also need diversification because you cannot put all of your money into just the Magnificent Seven and think that's diversification.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
You need other kinds of stocks. And And if you don't know which stocks to buy, then buy an exchange traded fund like VOO, VOO, or SPY, or the Vanguard Total Stock Market Index, VTI. Just get some diversification in there so that you're not 100% exposed to the Magnificent Seven. So if you did that and you had diversification,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
you won't be so freaked that one stock is down considerably right now, but your other stock should be relatively okay. All right. So I'm asking you just to realize Palantir is still great. What I found fascinating is that the stock was down even more on Friday. It was down to about 79.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
And right after the argument that happened at the White House ended, Nvidia that was down three or four at that moment in time, both those stocks finished up right after that. Don't ask me why that happened, but I found that very interesting. Is the government going to need what NVIDIA and Palantir manufacture? Possibly. So it's just something for you to think about and not get freaked about.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
All right. I was going to talk to you a little bit about real estate. But I think I'm going to hold that till next Sunday's Susie School and continue to see what's happening with it. But just to give you a little bit of a preview, which is I don't think the real estate market is doing very good on any level. So just be careful before you jump in right now and buy a home.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
That's all I'm going to say at this point in time. So there's two things that I just want you to consider. I want you to, again, to consider what's happening with interest rates. Again, Alliant customers, don't miss the opportunity that's there for you.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
If you have a certificate of deposit that is maturing in the month of March 2025 and you want to renew it, you best think about the offer that they're making you because I think it's a pretty great offer, number one. And also the stock market, just understand why it's doing what it's doing.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
But overall, I still think that many stocks, as well as the overall markets, are still going to go up this year. But time will tell. So until Thursday, there's only one thing that I want you to remember when it comes to your money, and it's this. People first, then money, then things. Now you stay safe. Bye-bye.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Because interest rates don't concern you. unless, of course, you have a CD or a treasury maturing, which I'm going to also talk to you about in a second. But currently, interest rates are coming down. For instance, the one-year treasury is all the way down at about 4.09%. The two-year treasury is at about 3.9%. And the 10-year treasury is 4.2%. Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Earn 3.10% interest on your money right now and get $100 at the end.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Are you kidding me? It's the best deal out there. Start saving right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
It would not shock me on any level if the 10-year treasury goes down to 4%, which would be really, really great because then mortgage rates would start to trend down. Will they trend down enough for many of you who are willing to sell the house that you currently have at a 2.5% or 2.75% mortgage to possibly buy a new one at 5.5%? 6%, not exactly sure, but we will see.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Let's get back to interest rates and why I want to talk to you about this. As you know, many of you one year ago purchased one-year certificates of deposits. In fact, many of you purchased those one-year certificates of deposits at Alliant Credit Union, who sponsors this podcast.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Now, what's interesting is that in this month, those CDs are going to mature and you are going to have a choice of what should you do with it. Should you roll it over? Should you look somewhere else? What are you going to do? Currently, the one-year rate for new customers, for people just doing it, the one-year rate is at 4.25%, not bad on any level. However, and listen to me closely.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
I had a long talk the other day with the powers that be at Alliant Credit Union, and they are making a special offer as they normally do do for the Women in Money podcast listeners. And here is how it works. If you decide to roll over into another one year, Certificate of Deposit with Alliant Credit Union, you will get 4.35% for amounts under $75,000 or 4.4% for amounts of $75,000 or over.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
However, here is the real kicker. If you decide to put in new money and not money that you're rolling over, but actually add to it, you will get those interest rates as well. I personally think those are great rates for a one-year certificate of deposit, bar none. However, I want you to listen to me now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
As you know, with Alliant Credit Union, unlike any other credit union out there, does this crazy thing when it comes to their maturities with CDs. When you get a CD, they have a 12-month, currently at 4.25%, a two-year for 3.80%. Okay. Now, Listen to me closely now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
They do this crazy thing where if you decide to get a 12-month CD, you can stagger the maturities of that from 12 months to 13 months. You If you were to then choose, you have to talk to them when you're doing this, a 17-month maturity, it matures in 17 months and 30 days, and you would be locking in either 4.35% or 4.40% for that entire amount of time versus 3.80% for a two-year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
So you're almost going to be able to get a two-year certificate, a deposit at Alliant Credit Union. It's only 17 months and 30 days, but get a significantly higher deposit. interest rate. If I were you, I would seriously consider doing that. So again, for those of you who do have certificates of deposits with Alliant Credit Union that are maturing the month of March.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
So I'm addressing just you now, just those of you who have that. You can, if you roll it over, you will get 4.35% for under $75,000, 4.4% for amounts $75,000 and over. And that will include, if you want to add any additional money to those CDs. Just that simple. And you again can change your maturity if you want from 12 months anywhere up to 17 months. So I just wanted to tell you that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
You would go to myalliant.com to check it out, or better yet, call them and talk to them directly about this. Next topic, the stock market. Now, I'm sure all of you, like I said in the introduction to this podcast, you want me to talk about Palantir. But the truth of the matter, it's far more than just one stock. What have I always told you is the main internal obstacle to wealth?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
The main internal obstacle to wealth is fear. Fear. Fear, everybody. Just that simple. And what are people afraid of right now? I want you to think about it. Half this world seems to be afraid that they're absolutely going to lose their job if they work for the federal government.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Even if you don't work for the federal government, you're afraid if you work for a retailer, retailers everywhere are starting to shutter their businesses and or lay off thousands of people. So this universal fear that you hear on the news all the time or your friends are telling you permeates the atmosphere. And what we see happening because of that, the economy now is starting to go down.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Go down in what way? People are stopping to shop. Retail sales are down. Real estate is down. Things are starting to happen where we're going down rather than going up. Just that simple. Then we have things where the cost of meat is going up, the cost of eggs still going up. Everybody is afraid that measles is going to spread throughout the entire United States.
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Suze School: Don’t Let Fear Make Your Investment Decisions For You
that another possible pandemic may happen with Ebola from across the sea. and that we don't have the infrastructure to handle any of it. And inwardly, we are all afraid. We have heard that they're going to absolutely cut the defense budget. And so in our heads and everybody else start to say, well, that means they are going to cut stocks like Palantir and things like that.
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Suze School: Don’t Let Fear Make Your Investment Decisions For You
So rumors are abound everywhere. Everybody is afraid. We see on TV what recently just happened between the United States and Ukraine, and what does that mean for all of us? So this is not exactly the most peaceful, wonderful time. Energy goes everywhere. You cannot stop it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
And when energy is frenetic, when energy is afraid, when energy is just going, oh, what am I going to do if something happens? That affects everything. And what it affects is the stock market. Because a lot of people are afraid, oh my God, everything's going to go to hell. Where should I take my money? Do I need to take it to a Swiss bank account?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Do you know that's my number one email right now that I'm getting? Suzy, how do I open up a Swiss bank account? Okay, now, what does that tell you? In the entire time that I've done this podcast, The Suzy Orman Show, nobody has ever asked me that question before. And now people are asking that question. Why would they ask that question? It's because they are afraid.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
So when you are afraid and you have stocks that have incredible gains in them, you start to take them. And then when you start to take them and you see the stocks start to go down... Then you go, oh, I better take them. And everybody jumps on the bandwagon. Prices go down. You feel good for a while because maybe you sold Palantir at 95. And now here it's at 85 and you feel like such a winner.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Are you kidding me? Again, remember, you are not investing with money that you hopefully need right away. You are investing with money that you don't need for the long run. And while it's true, maybe you made good money in Palantir or whatever stocks you may happen to have sold outside of a retirement account,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Did you take into consideration whether you're going to be paying ordinary income tax on that gain or capital gains tax? Because if you're going to pay ordinary income tax, which simply means that you didn't hold it for at least one year or longer, you might be losing 30 or 40% of that gain to taxes. Let's say you bought it at $50 a share. It's now at $100 a share when you sold it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
You haven't held it for at least a year or longer. Let's just say you're in the 30% combined federal and state income tax bracket. So that means $15 of that $50 gain is going to go to taxes, so to speak. And And that means rather than selling at a hundred after taxes, you have $85, which is where it is right now. Am I making sense to you? For a second, I would like you to think back to 2022.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
Do you remember what happened in 2022? Do you? Well, if you don't, let me just remind you. The Magnificent Seven, stocks like Apple, Microsoft, Amazon, Alphabet, Meta, NVIDIA, and Tesla had one of the most challenging years ever. they totally all tanked and underperformed the market. And why was that? Because interest rates were rising and they started to go down.
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Suze School: Don’t Let Fear Make Your Investment Decisions For You
There was economic uncertainty, valuation concerns, the same thing kind of is now. Anyway, and they tanked. In fact, they weren't known as the Magnificent Seven, everybody. Do you know that they were referred to as the Stinky Seven because of how badly they had gone down? And I remember looking at them and going, are you kidding me?
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Suze School: Don’t Let Fear Make Your Investment Decisions For You
But a year later, for instance, NVIDIA that had been obliterated went up 240% in 2023. And And then as time went on, they all started to skyrocket. And if you had purchased them in 2022, you would have in the following two years made an absolute fortune, to put it mildly, all right? We are going through a time like that right now with these stocks.
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Suze School: Don’t Let Fear Make Your Investment Decisions For You
March 2nd, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to listen. Suzy Oh here. And today is Suzy School. And here's what I want you to know. First of all, take out your notebooks because I think you're going to want to write things down.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Don’t Let Fear Make Your Investment Decisions For You
But you did not buy these stocks, everybody, for you to simply buy it and then sell it a few months later, a year later, two years later. If the stocks are good, and I've said this to you before, if the stock is good, management is good, product is good, product is something that is going to be very futuristic, and all the other things that go into making a great stock, You want to build wealth.
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Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
All right, listen up to me, everybody. Interest rates are not going to last. They're going down, down, down, down, down. So I want you to take advantage of the 12 to 17 month CD at myalliant.com. You have to look at it. So much higher than treasuries. I cannot even tell you. So currently they are paying for amounts of $1,000 to $74,999, 4.25 APR for $75,000 and up. It is 4.30.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
especially not just for you, but for your 10-year-old granddaughter, you probably could get a family plan. And I think the premiums may be at most $200 a year to get a membership versus $150 a month or whatever for dental insurance. Now, both KT and I can tell you how much money you think you saved on crowns.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Right, yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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For some reason, in the past two years, I needed three root canals. And I saved, I think, $1,200 on each one.
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So do me a favor, just go to dentalplans.com and check them out. I'm so glad. Bob Harris, thank you forever for introducing them to us. And now to everybody listening, because nobody really knows about them.
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Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Yes, we do. But HEM. HEM. HEM. No, here we go. Should we do a little song for HEM?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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HEM. All right. HEM, you cannot have a living revocable trust in just your name if your brother doesn't also have a living revocable trust. KT and I own things jointly. we both have individual trusts. So therefore, and they're both with joint tenancy with right to survive, the whole thing, because we both have trust. Given that he does not have a trust, you cannot do that unless he gets a trust.
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Smart enough to listen. That's my girl. Now, KT is here today because why? Because Thursday was Susie's school rather than ask KT and Susie anything.
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And by the way, you can share your documents with him for free. But if he doesn't want to do that, then you have to wait till he dies to be able to put it in
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yes, because it's both in trust.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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It's a great name. It is a great name, right? But boomer candies are simply exchange-traded funds that have all these strategies within them. They sell covered calls. They do options. They do these really kind of experienced techniques, complicated techniques to keep the principal safe and sound so that you can get growth but not lose as much money. So they do covered calls.
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They're called... Do you like them? Listen, I'm not into these fancy things. A lot of people like them. Me, I'm like just a good old-fashioned gal. And I like just regular... Do you think I should... No, you are not doing an ETF like that.
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Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
If you were going to do something like that, KT, you would take the individual stocks that you own... And you would sell covered calls on them. You don't need an ETF to do that for you when I could do it for you. And I hate to tell you, we already do it on our own.
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Right. Great name. So a lot of these were created because they really appeal to people who are near retirement. All right. Anyway, go on.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Now, I don't know if that's true because she's the one who reads a lot of the emails, but I bet it is on some level.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
only invest up to the point of the match. And then if you qualify for it income wise, do a Roth IRA on your own with the other part of that money. All right, next KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I have to tell you, if I knew I had to take money out of my IRA, assuming that everything you're invested in within your IRA happens to be good quality and you love it, I would take it from the stocks or the ETFs that are the highest. Take it now while it's up.
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Those that are already down, maybe that gives it a chance to come back up, but you don't want to see things that are up if you have to take it go down. However, I just want to say this. If you know you need to take money from your IRA,
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
then the truth of the matter is it's really wise for you to have at least three years of that money in a money market fund within your IRA so that you're not affected by the ups and downs of the market, just so you know. So you might want to think about that. All right, go on.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I'd like you being here with me. And that's the only thing that matters. KT, do you know how difficult it is to sit down in front of a microphone? Alone.
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Alone. Have absolutely no guests. Think about it, everybody. All these other podcasters, they have guest after guest after guest.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Well, we make small talk, but that's kind of easy to have a conversation. To be the only one on is very, very difficult. So it makes it so much easier when you're here with me. You bet it is, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
You know what I would love all of you to do, by the way? If you want to ask a question, write in to ask, S-U-Z-E, asksusiepodcasts at gmail.com. And if KT chooses it, we will answer it and kind of haggle over it. Right, KT? A little bit. A little bit on this podcast. However, I did an experiment the other day and I was able to translate what I said in my voice into Spanish. It was so great.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Or because he's getting paid 3, 4, 5, 6, or 7, or 8% of that $150,000 to put your money in there. So is that 1% exempt from that? Is the $100,000 in various securities that he's getting 1% on... does that mean that those are all securities without any commission as well? However, here's the bottom line.
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Let me tell you a little bit about the Transamerica Structured Annuity since I happen to know about it, which is it's really just an index annuity that that's attached to an index that you get a certain percentage. So your upside is limited. Your downside supposedly is limited as well. But here's the kicker. This particular annuity has for the first six years, just six years, all right?
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The first year, if you want to take out money, there's an 8% surrender charge. If you want to take out money the second year, there's still an 8% surrender charge. If you want to take money out the third year, there's a 7%, then it goes to 5%, then it goes to 4%, and then six years and beyond, no fee at all. Why do you want to put your money in something that limits your upside?
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Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Number one, it defers your money, meaning you don't pay taxes on it, but when you do take it out, you're going to pay ordinary income tax on it. And there's a surrender charge. Why not just put your money in some of the ETFs that we talk about here on the Women in Money podcast, whether it's SPY, VTI, VOO, or any of them to tell you the truth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
And they're all no-loaded, which means you're not going to pay any fees to buy them. And number two, as they do go up, which they will when you take money out anytime you want, As long as it's been in there a year, you're only going to pay capital gains tax on it.
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And if you leave this money to your beneficiaries in this annuity, they're going to have to pay ordinary income tax on whatever the gain happens to be. If you leave it to them via ETFs and just a regular account, they get a step up in basis. So here's the bottom line. Run, don't walk away. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
No, I don't think she does. No.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Well, it's a wrap for you, but I do have a quizzy. Oh, okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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On Sunday.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Right. So we're going to go to church right now. But I chose this because it really touched my heart. Because as all of you know, I really do scan the emails. I don't know which one she's going to pick, but every time I see one that touches my heart, I either answer it directly and or I choose it for KT's quizzy. Hi, guys.
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She says, love your podcast and would like to thank you for the heart you put into your conversations as well as your advice. I have a simple question. I am a widow with two grown children. Now listen carefully, KT and everybody, because this quiz isn't just for KT. How would you answer it as well? My daughter is married to a wonderful man and they are financially going to be okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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My son is a single father of three boys and has struggled with money since the boy's mom passed away four years ago.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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My question, would it be ethical to divide my life insurance policy sixty per cent to give to him forty per cent for my daughter or to give him even a little more if so should i discuss it with them i think my late husband would agree and we would probably go ahead with this Would love your opinion on this financial and more important for me, this ethical question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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So just think about it, everybody. And KT, you think about it as well. You're the daughter of this woman. You're married to a wonderful man, but you're just doing financially okay. Not sure? right? But just financially okay. So we don't know what could happen in the future. How would you feel if your mommy died and left more to your brother than to you?
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Just think about it before you say what you think this woman should do. Oh, you should see her little face.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So the question is, is anybody out there interested in hearing this podcast in Spanish? I'm just curious. If so, you can go on the Women in Money Community app and you can download it at Apple Apps or Google Play or send in
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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There's more to it than that though, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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All right. So here's what I would tell you to do. Just like KT said, have a discussion with them right now. But also tell them you're open to as time goes on. Because you don't know when death occurs. If death was going to occur tomorrow, then yes, I would like to split it 60-40 or 70-30. And I'm sure your daughter will say, absolutely, mommy. You know, my brother has kids.
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He's not doing well emotionally. lost his wife. I get that, mommy. In fact, maybe you leave it all to him. But let's just say, because I don't know how old Sandy happens to be, okay, is that Sandy, who wrote this email, by the way, Sandy, let's say 10 years from now, 15 years from now, all of a sudden your daughter is the one that isn't doing well. Maybe she got sick. Maybe her husband got sick.
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Maybe they spent all their money on medical bills. But now your son has remarried, flourishing, and everything is great for him. So whenever making a plan, everybody... It's a plan for today. But five years from now, 10 years from now, situations may change. And if they change, then you have to change it as well, Sandy.
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So you never know, maybe 10 years from now, you'll leave it all to your daughter and none to your son. So have a talk with them now. Tell them if things change in the future. So will this. But it's not just your life insurance policy. It's how about your other assets as well. And the real question to you is, do you have everything set up to pass to them in a way that
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that's financially easily and beneficial to them. Do you have a living revocable trust? Do you have an advanced directive and durable power of attorney for healthcare? Do you actually have a will and everything? Do you, Sandy? Because it's more than just a life insurance policy. For those of you, you should go to musthavedocs.com. Take a look at the must-have docs there.
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$99 for over $2,500 worth of state-of-the-art documents that you can share with any of the members of your family. Telling you, you all should look into it. And that includes you, Sandy.
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You want to give me a ding, ding, ding? Ding, ding, ding, ding, ding, ding. Whose ding is cuter? Ready? Let's try.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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That was pretty harmonious. Just like our relationship.
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All right. Okay, everybody, that is a wrap. So there's only one thing that we want you to remember when it comes to your money, and it's what, KT? People first, then money, then things. And if you do that, stay strong and stay safe and stay healthy. Hopefully, together, we will rise.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Hi, everybody. Suzy O here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to myalliant.com. That's M-Y-A-L-L-I-A-N-T.com and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months, Thank you.
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Oh, Juliana, it's, you know, I have this saying, and as you know, I have many sayings, that you usually never ask a question that you don't know the answer to. Juliana, read the email that you sent me. Why in the world would you want to stay in a relationship that was financially, emotionally, psychologically, physically, in every possible way, abusive? You had the courage to separate from him.
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Now you have to be really courageous and do what it takes to divorce him. There's a tendency with women who are abused, because as you know, I work with many, many women who are abused in many ways. And it all starts, by the way, with financial abuse. But anyway. The tendency is, no, I want to go back. He's not that bad. I can stay. He'll change. I need him to be happy.
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No, what you need in your life is for you to be happy. What you need in your life is for you to be secure. What you need in your life is to be the powerful woman you were born to be. What you need in your life is simply the courage and the faith in yourself that To do what you know is right versus what's easy. It's easy to go back and continue to suffer for the rest of your life.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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It's right for you not to do what's wrong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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And if any of you are out there and were in the situation that Juliana was in... Either post it on the Women in Money app or send in an email, and we'll send them on to Juliana so she can feel your support. All right, Katie.
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Well, my dear Stephen, you didn't see it then obviously on Friday when it plummeted to $105 a share. But here's what you need to know. Why did that happen in my opinion, especially on Friday? because of the tariffs that President Trump implemented on February 1st. And a lot of the white goods come from Mexico, and 20% for Whirlpool come from Mexico.
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So it's going to impact their costs and everything like that. So that's why it went down. So what would I do if I were you? I don't say this often, but I probably would sell, believe it or not. And I would probably diversify at this point in time into two stocks, Verizon, as well as Pfizer. You'll actually get a higher dividend yield.
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And you'll be able to buy, let's just say you owned 100 shares of Whirlpool. And the price of Whirlpool right now, as you know, is 105. The price of Verizon is around 39. The price of Pfizer is around 29. You could buy 150 shares of each, keep your dividend a little bit higher. And when those stocks do eventually start to go, and one day I believe they will, you'll make back the money faster.
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And in the meantime, if it's outside of a retirement account that you've been dollar cost averaging, you can take that loss if you have one. All right.
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4.25. We are strong.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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If they even insure you at all.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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So Nikki, here's the thing. I'm a little bit confused. It's kind of hard to confuse me, don't you think, KT?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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You can confuse me a lot, right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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So we're not just talking about finance and things like that.
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She goes, well, what does that mean?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Answer Nikki's question. Oh, sorry. I got carried away.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Well, not really. Not this. We talk about, should we drop our insurance on our condo since it's $28,000 a year?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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For a 2,000 square foot apartment, period.
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Or should we self-insure? Because if you have one claim, they will drop you anyway.
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And so, just so you know, everybody, we are going to self-insure. Nikki, there is a big difference between condo insurance that insures everything. It usually insures the condo building, the structure of the condo, the inside of the common areas of the condo. I don't know of a policy that insures individual units.
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The individual units, if you get damage for your inside of your condo, you have a leak, you have a little fire in your condo and everything. I don't think, I could be wrong, but I don't think that the condo insurance for the entire condo, which they have to carry, is going to take care of your individual units.
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Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So if it doesn't take care of your individual units and you don't have the money to self-insure, then you need to keep a policy because you never know what can happen. However, please check and ask the question. Simple question.
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If I have something go wrong in my apartment, it doesn't affect anybody else's apartment but my own, will the condo insurance cover it if I don't have individual insurance? Just look at what it will cover and what it won't, and I think you'll find you're going to need your own individual policy. Next, KT. Okay, this is from...
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My dear Ramona, listen to me. The very first question you need to ask yourself is, are you going to need any of the income from your 403B for you to live on? If the answer to that is yes, you are not to move a penny from the 403B into your Roth IRA. because you need the income anyway. Therefore, you're going to have to pay taxes on it. It makes no sense to do that. Okay.
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If however, your pension is enough for you to live on, and you do not need any of the money, and you don't think you're going to need any of the money for quite a while, if ever, because maybe it's enough for you to live on your pension. sooner than later, you're going to be able to collect Social Security. So you may not have to take any money from the 403B for you to live on.
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Then little by little over these next few years, start transferring or converting the money to a Roth IRA. Not because tax brackets are going to go up, because you're probably not going to be in that high of a tax bracket anyway. However, but because it's the smart thing to do, especially if you're not going to need that money. Therefore, that would be the only reason I would do it.
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If you are going to need that money, do not convert it to a Roth IRA. All right.
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I just don't like going to the dentist. I love going.
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Because most dental insurance plans have a six month or a year waiting period for, you know, things that are already wrong.
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So for pre-existing things. So here's the thing. It is no secret that I don't like dental insurance. I don't like anything about it, to tell you the truth, KT. First of all, the premiums are expensive. Second of all, they have a maximum of what, in most cases, they will cover. And also, they usually have a six-month waiting period. And then if something goes wrong, they'll pay for it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
But if something's wrong right now, they might not. What do I love? I love one thing and one thing only, and both KT and I have it, and that is a dental savings plan. What always amazed me when I first heard about this, KT, do you remember from Bob Harris?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I'm like, Bob, he was the CEO of dentalplans.com at the time. I was like, how's it possible that Susie Worman doesn't know about dental savings plans? How's that even possible? And then he started to explain it to me. And then I just didn't believe it. It sounded like it was too good to be true. Till we used it. Till we used one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Are you kidding? So anyway, what you should do, my dear Brenda, is you should go to dentalplans.com. And there is where you will find dental savings plans that will cover all kinds of work. There's anywhere between, I don't know, a 10 to 60% savings on procedures. So there are ones out there that will cover, obviously, braces, implants, all of those things.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
February 2nd, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to do what, Katie?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
April 4th, 2025. Welcome everybody to one of the first Suzy pop-ups. A pop-up is where I really want you to know something right now. I don't want you to have to wait till a Thursday or Sunday. I want you to know right now. And given that I'm not in my studio, I'm Sunday, as you will hear, is not a normal Susie School, but one that's really, really important.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
If you are going to continue with that strategy right now, you are to do it with seriously tiny amounts. Have you ever heard the saying, don't catch a falling knife? This might be a falling knife, because we don't know how other countries are going to react. There's time to get in. It's not like if these markets start to go up again, that they're going to go all the way back up to the top.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
You have time. So this is not where I want you to be aggressive and go, I've gotten in at the bottom. So no bottom fishing here. Do you hear me? Because in my opinion, we're seeing signs, and to me, this feels a lot like 2022, where it's volatile, it's emotional, it's uncertain. So I want you to breathe. Markets obviously will eventually recover, but not all at once.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
It's impossible now because they have gone down too much, too fast, and they're down here. And if these tariffs stay in place, it's going to take a long, long time. So remember... Money you have in the market should have been money, as I've told you over and over again, is money that you did not need for at least five years. So just let this play out and stay calm.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
If you are contributing to a retirement account, especially an employer retirement account, I am begging you not to stop your monthly contributions. Just stay the course, especially if you have 5, 10, 15 years or longer. Keep investing steadily because consistency, I am promising you, is your power. It's your secret weapon. Let's talk about fear, which all of you are having right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
The VIX, remember me telling you about the VIX? It's a measure of market volatility. Well, it just surpassed 45. And that number means that it's the highest that it's been since the spike in August. When the VIX is this high, it means fear is absolutely overwhelming logic. It's And historically, when sentiment is this fearful, it is not the time to sell. So just stay put right now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Now, this doesn't mean that the market can't bounce, because even in the middle of a downtrend, it can bounce, but just don't react emotionally. But you know, there are bright spots here that I want you to be aware of. Bond yields are absolutely collapsing. So if you've got bonds, your portfolio may be back to even or even showing gains.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
But here's what I want you to know right now. Listen, I get it. I know many of you are afraid of what's happening in the economy and the stock market. And I cannot blame you. Please listen to me closely now. I have posted this also on the Women in Money community app. But I know that many of you don't use that app, which is why I am doing a Suzy pop-up just for you. So here's my take, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Remember a long time ago, I had many of you buy 20-year bonds, 10-year bonds, longer-term bonds? and you were also upset because interest rates continued to go up and the value of those bonds went down, well, you're either even now or you are making money. Just that simple. There's always a silver lining somewhere if you are diversified in your holdings. Now, listen to me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
The 10-year treasury, as I'm recording this, is below 4%. It's at 3.8%. Now, that's great news for mortgages. It's great news for many things, but you might be thinking about refinancing sooner than later. Now, obviously, when interest rates are going down, interest rates everywhere are going to go down.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
And I've said it before, and I'm going to say it again, but you've got to listen to me right now and take action today when you are hearing this, if you want your money to be safe and sound. My favorite CD is the Alliant Credit Union CD. And interest rates at Alliant are not going to last, in my opinion. I give it at most one more week, all right? Now, one-year treasuries are at 3.8%.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Two-year treasuries, as I'm recording, are at 3.6%. That's why I want you to take advantage. I don't make money if you do this, everybody. I want you to make more out of your money. So if you want to keep money safe and sound right now, you have to take advantage of the 12 to 17 month CD at myalliant.com. They're at 4.25% APR for amounts of $1,000 to $74,999. and 4.3% APR for $75,000 and up.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
That is a big difference than what treasuries are paying. So seriously, for safe money, you might want to take advantage of it right now because that rate is incredible and I don't want you to miss out on it. Now, the dollar is weak. So if you're thinking about traveling to Europe or doing things like that, now is not the time.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Gold, however, and I told you a while ago, I want you to be investing in gold. Gold has soared. At one point, it was almost $3,200 an ounce. It's back at $3,065, but it is turning out to be the safe haven. Bitcoin is not holding up as a safe haven for when things like this is happening. Gold is still the safe haven.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
If you've been considering Roth conversions, a lot of you are like, oh, I want to put some money in a Roth. I have it in a traditional retirement account and I want to do a Roth. Maybe it's time to start doing that slowly a little bit at a time and take advantage of these down markets.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Remember, when you convert from a traditional to a Roth retirement account, you owe taxes on whatever your portfolio or the amount you're converting is at the time. When markets are going down, your portfolio value is going down. and that's the time to convert. WTI crude, I have to tell you now, has dropped sharply, and I mean sharply, below its long-term support near $65 per barrel.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
And if this breakdown holds, it could head towards $45 a barrel, and that is a major shift in oil, and you will absolutely see that at your pump. As for the stock market, I'm just going to reiterate one more time. I want you to stay diversified. Now is not the time to bottom fish. Don't get angry at anybody. Don't blame this. Just stay smart. Stay calm.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
And this is when the dividend paying stocks, everybody, that I was telling you about can really help stabilize your portfolio. I looked at all my dividend paying stocks where I have a lot of money in them, and I am only down from the beginning of the year, one half of a percent. and I'm getting the dividend. So companies like AT&T, Verizon, and so forth, they've held up pretty well.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
So here's the bottom line. I want you to take this one day at a time. I want you to stick together. I want you to be kind to yourself. I don't want to read in the post or anything where you are blaming anybody. It All the blame, shame, and everything in the world isn't going to help your money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Taking action, the right action, from a place of courage, not fear, from a place of power, not weakness, is what is going to make your money make more money. I want you to be kind to others. And always remember, you are stronger than your fear. I hope you enjoyed this Suzy pop-up for now. Bye-bye.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
We are looking, obviously, at another down day for the markets today. And you have to ask yourself why. Why are the markets continuing to go down? And truthfully, I'm sorry to say, the answer is very easy. Because number one, China has retaliated. They have put on retaliated tariffs, and that has gotten the investors on edge. Therefore, the markets are projected to go lower as a result.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Pop-Up: What Does This All Mean?
Now, I know that many of you, do you have your Suzy notebooks out? You should. Anyway, I know that many of you are dollar cost averaging. You're thinking, oh, the markets are going down. This is the time for me to buy. I'm going to get a bargain, whatever. Now, that's still okay. All right. But you have to hear me on this.