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?
Sun, 02 Feb 2025
For this Ask KT & Suze Anything episode, Suze answers your questions about selling or buying stocks of companies affected by the new tariffs, dental insurance, putting a home in trust and so much more! Jumpstart financial wellness for your employees: https://bit.ly/SecureSave Protect your financial future with the Must Have Docs: https://bit.ly/3Vq1V3GGet your savings going with Alliant Credit Union: https://bit.ly/3rg0YioGet Suze’s special offers for podcast listeners at suzeorman.com/offerJoin Suze’s Women & Money Community for FREE and ASK SUZE your questions which may just end up on the podcast. Download the app by following one of these links: CLICK HERE FOR APPLE: https://apple.co/2KcAHbH CLICK HERE FOR GOOGLE PLAY: https://bit.ly/3curfMISee omnystudio.com/listener for privacy information.
Chapter 1: What are the current interest rates and CD options?
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.
4.25.
4.25.
4.25. We are strong.
will not apologize we are here we will thrive together we will rise and everything it takes
February 2nd, 2025. Welcome everybody to the Women in Money podcast, as well as everybody smart enough to do what, Katie?
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Chapter 2: Why is KT's presence important for the podcast?
Well, wait, tell them it's Sunday school and KT is here. Yes, but you needed to finish my line.
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.
And you all wrote in and said, where is she? We miss her. Put KT back. It's not the same without her.
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.
Did you miss being here? Yes. I missed myself on Thursday, being on the Thursday.
Yeah.
When I listen and I don't hear me, it's like, KT, where are you?
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.
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
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Chapter 3: Is it the right decision to leave an abusive relationship?
an email kt what you got for me today okay my first question it's a little bit it's a little sad but it's important it's from juliana she said hello suzy i'd like some advice I've been married for over 40 years, but I'm getting a divorce. I'm separated at this time. The marriage was all about abuse, emotional, physical, verbal, and financial gaslighting.
I was close to having a stroke and a heart attack, plus stress. Is making this move the right direction, Susie? Please reply."
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.
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.
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.
It's right for you not to do what's wrong.
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Chapter 4: Should you buy or sell Whirlpool stocks amid Trump tariffs?
I want to add one more thing. You can, my love. 40 years, Juliana. You're at that age in your life where you deserve your final swan song to be the very best and to be happy and free and light. So just go for it. I agree 100% with what Susie said.
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.
Okay, next question's from Steven. Hello, Susie. Thank you for your advice this morning. I've been dollar-cost averaging into Whirlpool and noticed it plummeted to about $109. Is this a buying opportunity or a time to hold back?
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.
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.
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.
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.
Okay, next is from Nikki. I picked this one, Susie, because I always think about this for us. It said, our condo association is voting on insurance. Should everyone have their own policy for the unit or not? Some believe they could cover any damage to another unit for less than the yearly premium. Do you have an opinion on this, Susie? I've carried my policy for 22 years and never used it.
If I canceled and decided to go back on, the premium would be much higher.
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Chapter 5: What should you consider when choosing condo insurance?
So we're not just talking about finance and things like that.
Oh, anything. Anything.
She goes, well, what does that mean?
All right, so wait.
Answer Nikki's question. Oh, sorry. I got carried away.
Because we always talk about this for ourselves.
Well, not really. Not this. We talk about, should we drop our insurance on our condo since it's $28,000 a year?
Unbelievably expensive.
For a 2,000 square foot apartment, period.
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Chapter 6: Is converting a 403B to a Roth IRA beneficial?
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.
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.
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.
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...
This is Ramona, but wait, Ramona wrote Southern Gal. That was her email, Southern Gal. So this is Ramona. Hi, Susie. I'm single, 61 years of age, and recently retired from 34 years in education. Let's congratulate her. Congratulations. We love teachers.
I have learned within the last few days that it may be in my best interest to move my 403B into a Roth IRA because of the future taxes I will have to pay on the 403B. I'll be receiving my first pension check February 1st. What's the best time for me to make the move so that I will pay the least amount of taxes on the 403B? She's very confused in terms of all these tax brackets.
So what's your advice, Susie?
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.
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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Chapter 7: What are the alternatives to traditional dental insurance?
I just don't like going to the dentist. I love going.
I love to get cleaning. What in the world do you love going for? Cleaning. Cleaning. I always feel great when I leave and my teeth are real clean. Okay, so the question is, Susie, what is the best dental insurance for me that pays more for implants, for crowns, and for most procedures? And is there a dental insurance that will let me cover my 10-year-old granddaughter that pays for braces?
And then she wrote without waiting a year. So I don't understand why you have to wait a year.
Because most dental insurance plans have a six month or a year waiting period for, you know, things that are already wrong.
Right.
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.
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?
Yeah, we didn't know about it.
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.
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