1 00:00:45,590 --> 00:00:50,918 Suze: February 8th 2024. Welcome everybody to the Women and Money podcast. 2 00:00:51,069 --> 00:00:53,409 Suze: As well as everybody smart enough to listen. 3 00:00:53,439 --> 00:00:54,150 KT: Why are you giggling? 4 00:00:54,340 --> 00:00:59,189 Suze: Because Miss Smiley face, she has the hiccups. She's like 5 00:00:59,200 --> 00:01:02,099 Suze: her coffee isn't quite agreeing with her that yet this 6 00:01:02,110 --> 00:01:04,410 Suze: morning said, can you do this podcast? 7 00:01:04,730 --> 00:01:08,500 KT: I can try if I drink coffee really fast and 8 00:01:08,510 --> 00:01:10,930 KT: we had such a nice morning already. 9 00:01:11,400 --> 00:01:13,779 KT: I, I get the hiccups or something 10 00:01:14,699 --> 00:01:17,459 Suze: You do get the hiccups. All right. So 11 00:01:18,319 --> 00:01:21,099 Suze: right before we begin, is there anything we want to say? 12 00:01:21,680 --> 00:01:25,699 KT: I love the Grammys this past weekend, weren't they? Great? 13 00:01:25,830 --> 00:01:28,139 KT: I said to Suze, I said I, it was the 14 00:01:28,150 --> 00:01:32,449 KT: first time I not only didn't know like 90% of 15 00:01:32,459 --> 00:01:36,139 KT: the new artists, but what I enjoyed was that it 16 00:01:36,150 --> 00:01:41,980 KT: was very, um fashionable. It was very exciting. I love 17 00:01:41,989 --> 00:01:45,099 KT: Trevor as the host. I love Laverne as the, 18 00:01:45,430 --> 00:01:48,330 KT: um, I guess greeter on the red carpet. It was great. 19 00:01:48,459 --> 00:01:51,529 KT: I liked it more than the Oscars and Golden Globes way better. 20 00:01:51,940 --> 00:01:55,120 Suze: We have to see what happens with the Oscars. I just, 21 00:01:55,129 --> 00:01:58,150 Suze: not that any of you care about this. But so what? No, 22 00:01:58,160 --> 00:02:01,180 Suze: but it's like so in love with Miley Cyrus. I've 23 00:02:01,220 --> 00:02:04,279 Suze: been in love ever and ever and ever. 24 00:02:05,059 --> 00:02:07,300 Suze: Right? So great. I love a woman. 25 00:02:07,989 --> 00:02:08,529 KT: She's a free spirit. 26 00:02:08,919 --> 00:02:12,570 Suze: I was just gonna say that I love a woman who has such 27 00:02:13,119 --> 00:02:15,899 Suze: free spirit and not caring what anybody thinks about her 28 00:02:16,339 --> 00:02:17,690 KT: She's a free spirit. 29 00:02:18,038 --> 00:02:21,539 Suze: What a singer. Anyway. All right. This is the Ask KT 30 00:02:21,550 --> 00:02:25,089 Suze: and Suze edition of the Women and Money podcast. If 31 00:02:25,100 --> 00:02:26,448 Suze: you have a question 32 00:02:26,830 --> 00:02:30,350 Suze: that you would like Miss Travis to possibly choose for 33 00:02:30,360 --> 00:02:34,449 Suze: us to answer on the podcast, write it to Ask 34 00:02:34,529 --> 00:02:40,089 Suze: Suze - Suze podcast at gmail.com and she chooses it. We 35 00:02:40,100 --> 00:02:42,168 Suze: will do it now. I just want to say something. 36 00:02:42,929 --> 00:02:48,389 Suze: The emails are growing and growing and growing. Don't be 37 00:02:48,399 --> 00:02:51,949 Suze: impatient because you never know when KT may choose one 38 00:02:51,960 --> 00:02:55,229 Suze: from three months ago or four months ago. And hey, 39 00:02:55,240 --> 00:02:58,478 Suze: if you really want your question answered, maybe send it 40 00:02:58,490 --> 00:03:01,508 Suze: in again, just copy and paste it and see what happens. 41 00:03:01,520 --> 00:03:03,788 Suze: But I do have to say one thing, 42 00:03:04,190 --> 00:03:10,059 Suze: please don't send questions that say "I have $200,000. I 43 00:03:10,070 --> 00:03:14,960 Suze: have $100,000. I have 20,000 or 2000. What should I 44 00:03:14,970 --> 00:03:19,250 Suze: invest it in?" I wish I could answer that question, 45 00:03:19,258 --> 00:03:23,779 Suze: but I cannot because I don't know enough about you. 46 00:03:24,149 --> 00:03:27,720 Suze: I don't know. Are you afraid? Do you need dividends? 47 00:03:27,729 --> 00:03:30,800 Suze: Do you need whatever it is? Just wait 48 00:03:31,369 --> 00:03:36,190 Suze: because sooner than later, I am hoping that something will 49 00:03:36,199 --> 00:03:39,509 Suze: be revealed for all of you might be quite a 50 00:03:39,520 --> 00:03:42,210 Suze: few months from now that will help you out. But 51 00:03:42,220 --> 00:03:45,350 Suze: please don't write that because those are not questions that 52 00:03:45,360 --> 00:03:48,139 Suze: KT is going to choose, ask away girlfriend. 53 00:03:49,300 --> 00:03:50,940 KT: Or, she can't answer them either. 54 00:03:51,229 --> 00:03:54,479 Suze: Wait, wait, let's get something straight here girlfriend. This is 55 00:03:54,490 --> 00:03:57,059 Suze: not about you answering them. 56 00:03:57,070 --> 00:04:00,740 KT: It's KT anything you want and then I'll ask Suze. 57 00:04:00,750 --> 00:04:03,179 KT: So my, my first one is from Ruth and here's 58 00:04:03,190 --> 00:04:07,429 KT: the subject, everybody, it's called life. So that, that kind 59 00:04:07,440 --> 00:04:09,820 KT: of sparked my interest and I picked it and listen 60 00:04:09,830 --> 00:04:13,699 KT: to this one. She said today I was moved perhaps 61 00:04:13,710 --> 00:04:18,779 KT: by intuition to listen to your podcast. It was interesting. 62 00:04:19,309 --> 00:04:21,730 KT: A woman wrote in to say that she and her 63 00:04:21,738 --> 00:04:24,290 KT: older siblings were going to have to put her mom 64 00:04:24,299 --> 00:04:28,649 KT: in a nursing home. You gently chided the other siblings. 65 00:04:28,660 --> 00:04:31,928 KT: They were all retired. Why couldn't they have made more 66 00:04:31,940 --> 00:04:34,308 KT: time to make an effort to keep mom out of 67 00:04:34,320 --> 00:04:38,510 KT: the nursing home? I found myself agreeing with you when 68 00:04:38,519 --> 00:04:41,529 KT: my mom and dad were getting older and less able 69 00:04:41,540 --> 00:04:44,868 KT: to manage their own affairs. I was the only person 70 00:04:44,880 --> 00:04:46,170 KT: in town to help them. 71 00:04:46,470 --> 00:04:50,469 KT: I basically gave up work. My social life was nil 72 00:04:50,540 --> 00:04:54,289 KT: but you know what? I'm so glad I was able 73 00:04:54,299 --> 00:04:58,209 KT: to do that. My dad required less care than mom, 74 00:04:58,279 --> 00:05:02,849 KT: but he was consistently being harassed by telemarketers and my 75 00:05:02,859 --> 00:05:07,089 KT: dad could not answer the phone. My mom had Alzheimer's 76 00:05:07,420 --> 00:05:12,190 KT: subtle at first and then more intense. She was sweet though. 77 00:05:12,440 --> 00:05:15,950 KT: And I was so grateful that I was helping her 78 00:05:16,140 --> 00:05:18,899 KT: I was able to get and I love you ruth 79 00:05:18,910 --> 00:05:22,238 KT: at least twice a day. It was well worth the 80 00:05:22,250 --> 00:05:26,579 KT: sacrifices I made. Anyway, Suze, I don't really have a 81 00:05:26,589 --> 00:05:27,880 KT: financial question. 82 00:05:28,200 --> 00:05:35,140 KT: I just wanted to share and say hi. Isn't that, great everybody? 83 00:05:35,170 --> 00:05:38,649 Suze: You know what I've noticed about you lately, KT, you're 84 00:05:38,660 --> 00:05:43,299 Suze: liking to start to Ask KT and Suze Anything with stories. 85 00:05:43,309 --> 00:05:47,868 KT: I love stories. I've always preferred a story more than anything. 86 00:05:47,880 --> 00:05:48,979 Suze: More than a question? 87 00:05:49,640 --> 00:05:50,880 KT: Yea. I love stories. 88 00:05:50,890 --> 00:05:55,019 Suze: Maybe, maybe we need to do a different called Susie stories. 89 00:05:55,029 --> 00:05:56,429 KT: Suze Story hour. 90 00:05:56,928 --> 00:05:58,609 Suze: No, Suze Stories. 91 00:05:58,649 --> 00:06:01,349 KT: KT's Story Hour. 92 00:06:02,230 --> 00:06:03,738 Suze: Oh, go on. Ask me a question... 93 00:06:04,320 --> 00:06:08,230 KT: Ok. Next is from Helene. I've lived this one. Made 94 00:06:08,238 --> 00:06:08,920 KT: you laugh. 95 00:06:08,950 --> 00:06:09,928 Suze: Wait, wait one second. 96 00:06:09,940 --> 00:06:12,390 Suze: If you're going to read it, you have to have 97 00:06:12,399 --> 00:06:13,750 Suze: a comment on it 98 00:06:14,350 --> 00:06:20,950 Suze: and the comment about Ruth's story really, really has to 99 00:06:20,959 --> 00:06:26,849 Suze: be everybody that in life, honest to God in life, 100 00:06:27,589 --> 00:06:32,019 Suze: no matter what your relationship really is with your parents, actually, 101 00:06:32,029 --> 00:06:33,089 Suze: they're gone. 102 00:06:33,920 --> 00:06:38,119 Suze: Don't find yourself in the situation of saying I wish 103 00:06:38,130 --> 00:06:38,670 Suze: I had. 104 00:06:39,410 --> 00:06:43,238 Suze: Why didn't I, I should have understood better what it's 105 00:06:43,250 --> 00:06:44,589 Suze: like to get older. 106 00:06:45,399 --> 00:06:50,899 Suze: So, learn from these stories. Because even myself, I say, 107 00:06:51,640 --> 00:06:54,410 Suze: why didn't I with my mom? Why didn't I spend 108 00:06:54,420 --> 00:06:57,540 Suze: more time with her? Why didn't I, why didn't I? 109 00:06:57,920 --> 00:07:01,339 Suze: And so it's a, it's a regret that I have 110 00:07:01,350 --> 00:07:02,779 Suze: and I revisit often. 111 00:07:03,850 --> 00:07:08,200 KT: Ok, Suze. So our first question is from Helene. And 112 00:07:08,209 --> 00:07:10,690 KT: this one made me laugh because I read it so fast. 113 00:07:10,700 --> 00:07:13,179 KT: When I was looking at all of these, I, I 114 00:07:13,190 --> 00:07:16,209 KT: made myself chuckle. It said I've lived in a "coop" 115 00:07:16,220 --> 00:07:17,459 KT: for 30 years 116 00:07:18,049 --> 00:07:21,190 KT: and I realized it was a co op but she 117 00:07:21,200 --> 00:07:25,220 KT: spelled it coop and I'm thinking this is a chick. 118 00:07:26,309 --> 00:07:28,709 KT: So she said I've lived in a co op for 119 00:07:28,720 --> 00:07:32,380 KT: 30 plus years. Two miles from my sister, we're both 120 00:07:32,390 --> 00:07:36,380 KT: planning on buying separate single family homes in New Jersey, 121 00:07:36,390 --> 00:07:40,920 KT: which are in a 55 plus community and their new builds. 122 00:07:40,929 --> 00:07:45,799 KT: She said I retired in 2022 with two pensions. Small 123 00:07:45,809 --> 00:07:49,940 KT: one from my company. I left in '95 after 16 years, 124 00:07:49,950 --> 00:07:53,920 KT: larger one from a company I worked for, for 25 years. 125 00:07:54,279 --> 00:07:57,480 KT: I always wanted to wait until I was 70 as 126 00:07:57,489 --> 00:08:02,980 KT: you recommended to receive Social Security. But my investment counselor 127 00:08:02,989 --> 00:08:06,339 KT: advised me to start taking it in August when I 128 00:08:06,350 --> 00:08:12,079 KT: turned 68 as opposed to taking out any 401k. Now, 129 00:08:12,089 --> 00:08:13,109 KT: an IRA 130 00:08:13,380 --> 00:08:17,570 KT: money that will be heavily taxed. He also recommended a 131 00:08:17,579 --> 00:08:20,679 KT: larger mortgage so I don't have to utilize all my 132 00:08:20,690 --> 00:08:24,320 KT: liquid money along with the money I get from the 133 00:08:24,329 --> 00:08:26,880 KT: sale of my co op, by the way, which is 134 00:08:26,890 --> 00:08:29,950 KT: paid in full and no mortgages. She has no debt. 135 00:08:30,209 --> 00:08:33,718 KT: So that will allow me to pay taxes, my mortgage 136 00:08:33,729 --> 00:08:36,080 KT: and other monthly bills I don't pay now. 137 00:08:36,710 --> 00:08:41,770 KT: So basically Suze, she's saying in a nutshell. Do you agree 138 00:08:41,780 --> 00:08:43,159 KT: with this advice? 139 00:08:44,020 --> 00:08:47,039 Suze: Well, well, well, well, 140 00:08:47,719 --> 00:08:51,469 Suze: you know, I always say that you never ask a 141 00:08:51,479 --> 00:08:56,869 Suze: question like this that you don't already know the answer to. Helene, 142 00:08:56,880 --> 00:09:02,098 Suze: in my personal opinion, if you really trusted your financial advisor, 143 00:09:02,729 --> 00:09:06,210 Suze: if you really felt in your gut, that this was 144 00:09:06,219 --> 00:09:10,880 Suze: the absolute correct advice you would not be writing in... 145 00:09:10,890 --> 00:09:11,770 KT: It's true. 146 00:09:12,570 --> 00:09:17,400 Suze: To ask Suze Podcast at gmail.com. So you whether you 147 00:09:17,409 --> 00:09:21,719 Suze: know it or not have already answered this question and 148 00:09:21,729 --> 00:09:26,348 Suze: the answer is from me, are you crazy? 149 00:09:26,849 --> 00:09:31,689 Suze: Is he or she crazy this financial advisor you are 150 00:09:31,700 --> 00:09:35,859 Suze: to take out a mortgage right now at today's interest 151 00:09:35,869 --> 00:09:39,460 Suze: rates just so that you can pay certain bills and 152 00:09:39,690 --> 00:09:43,479 Suze: da da da da. Absolutely not over my dead body. 153 00:09:43,669 --> 00:09:47,619 Suze: Now, why maybe does this person want you to do that? 154 00:09:47,859 --> 00:09:50,979 Suze: The more of a mortgage that you take out? Guess 155 00:09:50,989 --> 00:09:54,309 Suze: what happens, the more money they have to invest for 156 00:09:54,320 --> 00:09:58,130 Suze: you that they continue to make income off of you? 157 00:09:58,219 --> 00:10:03,689 Suze: Absolutely not. When you have a mortgage, you have got 158 00:10:03,700 --> 00:10:06,510 Suze: to make payments for it. Why is it that you 159 00:10:06,520 --> 00:10:08,570 Suze: own your home outright currently? 160 00:10:09,080 --> 00:10:12,950 Suze: Because no doubt it makes you feel secure and what 161 00:10:12,960 --> 00:10:15,669 Suze: is the goal of money it is to make you 162 00:10:15,679 --> 00:10:20,570 Suze: feel secure. Listen, no matter when you take money out 163 00:10:20,580 --> 00:10:25,890 Suze: of your 401k, it is going to be taxed. So 164 00:10:25,900 --> 00:10:29,010 Suze: you have a choice here and I'm not going to 165 00:10:29,020 --> 00:10:33,228 Suze: give you the answer to that choice. I want you 166 00:10:33,280 --> 00:10:36,229 Suze: to be a woman who owns the power to control 167 00:10:36,239 --> 00:10:37,390 Suze: her own destiny. 168 00:10:37,869 --> 00:10:41,650 Suze: So I want you to be somebody who makes the 169 00:10:41,659 --> 00:10:44,210 Suze: move because either way you're not gonna make a mistake here, 170 00:10:44,219 --> 00:10:49,880 Suze: truthfully to choose what makes you feel more secure, taking 171 00:10:49,890 --> 00:10:54,929 Suze: social security now or waiting to take social security, withdrawing 172 00:10:54,940 --> 00:10:59,169 Suze: money from your 401k now or waiting to withdraw money 173 00:10:59,179 --> 00:11:03,929 Suze: from your 401k. You make that decision, girlfriend. 174 00:11:04,450 --> 00:11:07,729 KT: Ok. Next question. This is from Rissa. 175 00:11:08,080 --> 00:11:13,118 KT: Hi Katie and Suze. Both of my Children have UTMA accounts. 176 00:11:13,289 --> 00:11:17,539 KT: They are both now over 21. Should I slowly have 177 00:11:17,549 --> 00:11:21,630 KT: them transfer the money to their Roth IRAs. I had 178 00:11:21,640 --> 00:11:23,099 KT: them open this year. 179 00:11:25,440 --> 00:11:26,219 Suze: That's how you end it? 180 00:11:26,500 --> 00:11:28,590 KT: Yeah, that's the, that's the question. 181 00:11:29,400 --> 00:11:31,429 Suze: You have again, a look on your face like... 182 00:11:31,440 --> 00:11:35,309 KT: Well, tell everyone what a UTMA account is. I didn't 183 00:11:35,320 --> 00:11:37,179 KT: understand what that was. 184 00:11:37,200 --> 00:11:41,090 Suze: It's usually either people refer to it two ways. It's 185 00:11:41,099 --> 00:11:45,119 Suze: either a Uniform Transfer to Minors Act account or a 186 00:11:45,130 --> 00:11:47,349 Suze: Uniform Trust to Minors Act account. 187 00:11:47,799 --> 00:11:51,859 Suze: That is an account, everybody, there's also a UGMA Uniform 188 00:11:51,869 --> 00:11:55,770 Suze: Gift to Minors Act account when your children are minors 189 00:11:55,840 --> 00:11:59,449 Suze: and you want to invest money for them in their name. 190 00:11:59,669 --> 00:12:02,510 Suze: That is theirs and you can never take it back. 191 00:12:02,789 --> 00:12:05,979 Suze: You usually do it that way because there's really no 192 00:12:05,989 --> 00:12:10,099 Suze: other way for them to do it since they are minors. 193 00:12:10,659 --> 00:12:13,500 Suze: Here is the answer my dear Larissa. 194 00:12:14,359 --> 00:12:18,650 Suze: In order to have a Roth IRA, you need to 195 00:12:18,659 --> 00:12:23,989 Suze: have earned income. You cannot just transfer money from a 196 00:12:24,000 --> 00:12:30,520 Suze: UTMA into a Roth if they don't have earned income. 197 00:12:30,650 --> 00:12:33,359 Suze: So obviously, of course, you can take money out of 198 00:12:33,369 --> 00:12:37,460 Suze: their UTMA with their permission because this is now their 199 00:12:37,469 --> 00:12:41,608 Suze: money and legally you can't do anything with it without 200 00:12:41,619 --> 00:12:42,880 Suze: their permission, 201 00:12:43,590 --> 00:12:46,909 Suze: but you can open up a Roth IRA. But if 202 00:12:46,919 --> 00:12:51,579 Suze: they don't have any income, you cannot fund it. But 203 00:12:51,590 --> 00:12:55,530 Suze: there's one thing that you all should know, even if 204 00:12:55,539 --> 00:12:58,210 Suze: the kids have earned income, 205 00:12:59,150 --> 00:13:04,090 Suze: they can only put in up to 7000 a year 206 00:13:04,099 --> 00:13:09,219 Suze: or the amount of earned income they have, whichever one 207 00:13:09,229 --> 00:13:14,450 Suze: is less, even if they only have $1000 of earned income. 208 00:13:14,590 --> 00:13:17,770 Suze: That's all they can put in there and you can 209 00:13:17,780 --> 00:13:21,049 Suze: use the money from the UTMA to do so. 210 00:13:21,789 --> 00:13:26,679 KT: Ok. Next question from Kayla. Hi, Suze. I'm a 29 211 00:13:26,690 --> 00:13:30,049 KT: year old new grad nurse who just landed my first 212 00:13:30,059 --> 00:13:35,020 KT: big girl job. Congratulations, Kayla. Any advice on where I 213 00:13:35,030 --> 00:13:36,840 KT: should be putting my money? 214 00:13:36,849 --> 00:13:41,289 Suze: Kayla, the first thing you should be doing is finding 215 00:13:41,299 --> 00:13:46,409 Suze: out if your employer offers an employer match to either 216 00:13:46,419 --> 00:13:49,450 Suze: the 403 B or the 401k. 217 00:13:49,900 --> 00:13:55,400 Suze: If they do not offer a match, then forget about 218 00:13:55,409 --> 00:14:01,380 Suze: those retirement accounts and open up a Roth IRA for yourself. 219 00:14:01,390 --> 00:14:04,489 Suze: Aim to put $7000 into it. That will be the 220 00:14:04,500 --> 00:14:08,150 Suze: max for you this year and do it. Hopefully at 221 00:14:08,159 --> 00:14:10,359 Suze: a discount brokerage firm 222 00:14:11,799 --> 00:14:16,468 Suze: number two, you should find out if your employer offers 223 00:14:16,700 --> 00:14:20,979 Suze: a Roth version of those retirement accounts 224 00:14:21,729 --> 00:14:26,609 Suze: if they match and they offer a Roth version, sign 225 00:14:26,619 --> 00:14:30,869 Suze: up for the Roth version, period if they do not 226 00:14:30,880 --> 00:14:36,950 Suze: offer a Roth version, but they do match your contribution 227 00:14:37,679 --> 00:14:42,010 Suze: sign up anyway, but only up to the point of 228 00:14:42,020 --> 00:14:46,739 Suze: the match. After that, you are to either open up 229 00:14:46,750 --> 00:14:50,580 Suze: a Roth IRA on your own to fund. But you 230 00:14:50,590 --> 00:14:53,820 Suze: would only do that if in fact, you have no 231 00:14:53,830 --> 00:14:56,789 Suze: credit card debt, you have an emergency savings account and 232 00:14:56,799 --> 00:14:59,539 Suze: so on and so forth. But the very first thing 233 00:14:59,549 --> 00:15:03,260 Suze: you should do is exactly what I told you. 234 00:15:03,599 --> 00:15:06,859 KT: Ok. So Suze, this next question from Lil 235 00:15:07,150 --> 00:15:11,010 KT: is because I have no idea what this means. And I, 236 00:15:11,020 --> 00:15:11,679 KT: I would love... 237 00:15:12,109 --> 00:15:12,849 Suze: Oh really, KT. How surprising. 238 00:15:14,219 --> 00:15:17,299 KT: She says, hi, Suze and KT. I'm a new listener, but 239 00:15:17,309 --> 00:15:19,909 KT: absolutely loving your podcast. 240 00:15:20,280 --> 00:15:23,739 KT: I'm slowly making my way through all the previous podcasts. 241 00:15:23,750 --> 00:15:27,659 KT: So I apologize if you've addressed this before. My question 242 00:15:27,669 --> 00:15:31,010 KT: is when purchasing stock, I have a Roth and traditional 243 00:15:31,020 --> 00:15:36,299 KT: IRA through Schwab. In addition to selecting my option quantity, 244 00:15:36,309 --> 00:15:40,460 KT: et cetera, it asks about timing. Now, this is the 245 00:15:40,469 --> 00:15:43,909 KT: part Suze that I need a little help myself. It 246 00:15:43,919 --> 00:15:48,359 KT: said day only, day plus extend, fill or kill, 247 00:15:48,729 --> 00:15:52,520 KT: et cetera. The default is day only, but I'm wondering 248 00:15:52,530 --> 00:15:54,880 KT: if this is the best option as they don't really 249 00:15:54,890 --> 00:15:56,380 KT: understand the timing compltely. 250 00:15:57,510 --> 00:15:59,690 Suze: So this is something, this is a good question you 251 00:15:59,700 --> 00:16:02,859 Suze: picked here because a lot of you are starting to 252 00:16:02,869 --> 00:16:06,650 Suze: invest on your own through companies like Charles Schwab 253 00:16:06,760 --> 00:16:10,739 Suze: or Fidelity or whoever it may be any discount broker 254 00:16:10,750 --> 00:16:14,789 Suze: out there when you place an order to buy stock 255 00:16:14,799 --> 00:16:17,750 Suze: or an exchange traded, whatever it may be, but it's 256 00:16:17,760 --> 00:16:22,940 Suze: usually just stocks or exchange traded funds. You have a choice. 257 00:16:22,989 --> 00:16:28,739 Suze: Sometimes a stock may be trading at a specific dollar 258 00:16:28,750 --> 00:16:33,260 Suze: amount and maybe you don't want to pay as much 259 00:16:33,270 --> 00:16:35,330 Suze: as it's trading for at the time. 260 00:16:35,729 --> 00:16:40,580 Suze: So rather than entering a market order, which means no 261 00:16:40,590 --> 00:16:43,150 Suze: matter what it's trading at, they're gonna fill it right 262 00:16:43,159 --> 00:16:46,710 Suze: away for you. You'll get your trade, you decide to 263 00:16:46,719 --> 00:16:52,429 Suze: enter a limit order which is at a specific price 264 00:16:52,440 --> 00:16:56,969 Suze: that's under what the stock is currently trading at and 265 00:16:56,979 --> 00:17:00,549 Suze: what they want to know is and who is they? 266 00:17:00,559 --> 00:17:02,869 Suze: I know KT will ask that question. 267 00:17:03,340 --> 00:17:06,800 Suze: So in this case what Schwab wants to know. How 268 00:17:06,810 --> 00:17:11,250 Suze: long do you want that limit order to stay in place? 269 00:17:11,430 --> 00:17:14,219 Suze: Do you want it to stay in place for just 270 00:17:14,229 --> 00:17:18,430 Suze: the day that you entered it, period? Do you want 271 00:17:18,439 --> 00:17:20,989 Suze: it to stay not only for the day that you 272 00:17:21,000 --> 00:17:25,680 Suze: entered it, but possibly for another five days? Whatever you choose. 273 00:17:26,310 --> 00:17:29,459 Suze: Do you want it to be fill or kill means 274 00:17:29,520 --> 00:17:31,698 Suze: you want it to be filled right away as soon 275 00:17:31,709 --> 00:17:34,469 Suze: as you enter it at that price or just kill 276 00:17:34,479 --> 00:17:36,698 Suze: the order, you don't want it executed. 277 00:17:37,339 --> 00:17:42,639 Suze: The reason the default is day only is that they 278 00:17:42,650 --> 00:17:47,680 Suze: are assuming you only want that limit price for that day, 279 00:17:47,739 --> 00:17:53,359 Suze: period a day only order is the absolute choice that 280 00:17:53,369 --> 00:17:54,239 Suze: the majority 281 00:17:54,324 --> 00:17:56,905 Suze: of you should make. So, don't worry about it. 282 00:17:57,864 --> 00:18:02,714 KT: Hi, Suze and KT last year, my employers started offering 283 00:18:02,724 --> 00:18:07,104 KT: a Roth option with a 401k plan. Prior to then 284 00:18:07,354 --> 00:18:11,744 KT: I had been investing in the regular 401k option and 285 00:18:11,755 --> 00:18:15,375 KT: was so excited to have an option. I've been looking 286 00:18:15,385 --> 00:18:18,944 KT: at pivoting to the Roth option for my contribution, 287 00:18:19,410 --> 00:18:22,510 KT: but my spouse and I are struggling with accepting the 288 00:18:22,520 --> 00:18:27,910 KT: tax implications of switching. Between state and federal, we would 289 00:18:27,920 --> 00:18:32,699 KT: owe another 10,000 in federal and state taxes, should we 290 00:18:32,709 --> 00:18:35,829 KT: not get the 401k deduction. 291 00:18:36,170 --> 00:18:40,599 KT: This would impact our additional savings and investment amount. Is 292 00:18:40,609 --> 00:18:45,430 KT: it truly always the right option regardless of a tax bracket? 293 00:18:45,439 --> 00:18:49,410 Suze: So here's what's really important and by the way, everybody, 294 00:18:49,420 --> 00:18:52,069 Suze: if you hear thunder in the background, that's because we 295 00:18:52,079 --> 00:18:55,829 Suze: have a tremendous storm that has just happened. But that's 296 00:18:55,839 --> 00:18:59,189 Suze: what that is. That's not my stomach gurgling anyway. 297 00:18:59,630 --> 00:19:06,280 Suze: It will forever be a disagreement between tax deferred, tax 298 00:19:06,290 --> 00:19:09,089 Suze: free with the Roth, whatever it may be. If you 299 00:19:09,099 --> 00:19:13,439 Suze: do not choose the Roth version of a retirement account, 300 00:19:13,660 --> 00:19:17,050 Suze: you are making one of the biggest mistakes out there. Now, 301 00:19:17,060 --> 00:19:21,369 Suze: KT just handed me your email and it says that 302 00:19:21,380 --> 00:19:22,810 Suze: you're only 42, 303 00:19:23,150 --> 00:19:27,930 Suze: hubby is 46. And you also say that you currently 304 00:19:27,939 --> 00:19:36,969 Suze: have $1 million in 401k retirement accounts. Let's just project out. 305 00:19:38,150 --> 00:19:41,979 Suze: Oh, for 29 years, when your hubby will be 75 306 00:19:41,989 --> 00:19:45,939 Suze: and you'll be 71. Do you know that even at 307 00:19:45,949 --> 00:19:49,569 Suze: just a 6% annual average rate of return 308 00:19:50,880 --> 00:19:56,300 Suze: over 29 years for that million dollars that you have 309 00:19:56,310 --> 00:19:56,939 Suze: in there, 310 00:19:57,790 --> 00:20:04,520 Suze: it's going to grow to approximately $5.5 million. 311 00:20:05,310 --> 00:20:08,948 Suze: And you will have to, as you take money out, 312 00:20:08,959 --> 00:20:13,699 Suze: pay taxes according to whatever tax bracket you're in. But 313 00:20:13,709 --> 00:20:18,400 Suze: also according to the RMD schedules, and when you are 314 00:20:18,410 --> 00:20:22,129 Suze: both having to take RMDs out, you're looking at having 315 00:20:22,140 --> 00:20:27,250 Suze: to take out approximately a quarter million dollars a year. Now, 316 00:20:27,260 --> 00:20:29,760 Suze: is that going to put you in a high income 317 00:20:29,770 --> 00:20:33,530 Suze: tax bracket? Maybe? Yes, maybe, no. But let's just say 318 00:20:34,530 --> 00:20:40,800 Suze: over the next 29 years, you continuously add just $50,000 319 00:20:40,810 --> 00:20:45,728 Suze: between the two of you to these pretext 401ks in 320 00:20:45,739 --> 00:20:52,609 Suze: 29 years, you're gonna have approximately $9.3 million in there 321 00:20:52,619 --> 00:20:55,239 Suze: at a 6% annual average rate of return. 322 00:20:55,910 --> 00:21:00,550 Suze: And then your RMDs will be about a half a 323 00:21:00,560 --> 00:21:02,399 Suze: million dollars a year. 324 00:21:03,119 --> 00:21:07,619 Suze: Now, think about it, you're thinking you don't want to 325 00:21:07,630 --> 00:21:13,150 Suze: give up $10,000 more right now in federal tax savings 326 00:21:13,160 --> 00:21:16,780 Suze: just so you can save it, save it for what 327 00:21:17,069 --> 00:21:22,140 Suze: you have enough money right now. You need to project 328 00:21:22,150 --> 00:21:27,199 Suze: out to the future. What that $10,000 in savings is 329 00:21:27,209 --> 00:21:28,819 Suze: going to cost you. 330 00:21:29,680 --> 00:21:32,739 Suze: So just think about it. If you just started right 331 00:21:32,750 --> 00:21:39,729 Suze: now and over 29 years averaged $50,000 a year into 332 00:21:39,739 --> 00:21:45,660 Suze: the Roth 401k, you would have approximately four or $5 333 00:21:45,670 --> 00:21:48,218 Suze: million totally tax free at that time 334 00:21:49,050 --> 00:21:52,479 Suze: that you don't have to take RMDs from that you 335 00:21:52,489 --> 00:21:56,639 Suze: could leave to your beneficiaries totally tax-free. If you wanted 336 00:21:56,650 --> 00:22:01,030 Suze: to take out all $5 million at once, you could tax-free. 337 00:22:01,589 --> 00:22:06,579 Suze: Are you kidding me? You are thinking small here. You 338 00:22:06,589 --> 00:22:09,979 Suze: are thinking like you don't have any money 339 00:22:10,310 --> 00:22:14,208 Suze: and that, that $10,000 would impact your additional savings and 340 00:22:14,219 --> 00:22:19,849 Suze: investment amount. What about the future taxes that you absolutely 341 00:22:19,859 --> 00:22:24,250 Suze: are going to owe on a traditional 401k. 342 00:22:24,619 --> 00:22:29,209 Suze: Hands down, I would be putting, especially in your situation, 343 00:22:29,250 --> 00:22:34,760 Suze: every penny I could in the Roth 401k section of 344 00:22:34,770 --> 00:22:37,319 Suze: my retirement plan. 345 00:22:37,739 --> 00:22:41,409 KT: This is from Yvonne, Suze. A financial planner told a friend 346 00:22:41,420 --> 00:22:42,489 KT: of mine that when the Feds cut rates, the CD interest rates go up. 347 00:22:42,670 --> 00:22:43,130 Suze: I answered her and I hate this one. 348 00:22:47,829 --> 00:22:48,589 KT: No, wait, wait, wait, wait, 349 00:22:48,599 --> 00:22:52,800 KT: wait. I thought when the fed cuts rates, mortgage rates 350 00:22:52,810 --> 00:22:56,969 KT: go down, saving rates go down and CD rates also 351 00:22:56,979 --> 00:23:01,629 KT: go down. Can you please just confirm for me? Don't 352 00:23:01,640 --> 00:23:02,680 KT: listen to your friend. 353 00:23:02,689 --> 00:23:04,899 Suze: Now, let me tell you why I said I hate 354 00:23:04,910 --> 00:23:08,089 Suze: this one. Not that I hate this question, 355 00:23:08,599 --> 00:23:13,369 Suze: but I hate the fact that a financial planner told 356 00:23:13,380 --> 00:23:17,020 Suze: a friend of mine. So now we're two people removed. 357 00:23:17,030 --> 00:23:20,619 Suze: Did the financial planner really say that? I cannot believe 358 00:23:20,630 --> 00:23:22,640 Suze: that there is a financial planner out there? That is 359 00:23:22,650 --> 00:23:23,579 Suze: that dumb, 360 00:23:23,869 --> 00:23:25,180 KT: Even I know the answer. 361 00:23:25,655 --> 00:23:28,744 Suze: But does a financial planner tell a friend of yours 362 00:23:28,755 --> 00:23:32,135 Suze: who totally gets it mixed up and then tells you 363 00:23:32,145 --> 00:23:34,224 Suze: and then you have to take your time to write 364 00:23:34,234 --> 00:23:39,234 Suze: in to the women and Money podcast. Absolutely not everything 365 00:23:39,244 --> 00:23:44,584 Suze: is contingent on the fed funds rate and that controls everything. 366 00:23:44,594 --> 00:23:49,744 Suze: Mortgage rates go down when the 10 year treasury goes 367 00:23:49,755 --> 00:23:53,864 Suze: down because mortgages don't follow the fed funds rate. 368 00:23:54,739 --> 00:23:58,810 Suze: They follow the 10 year treasury, but savings accounts and 369 00:23:58,819 --> 00:24:03,219 Suze: everything like that follow the Feds. So please maybe don't 370 00:24:03,229 --> 00:24:06,030 Suze: listen to your friend anymore. Ok. Go on. 371 00:24:07,410 --> 00:24:10,159 KT: This is from Marjorie and it said, Suze, I need 372 00:24:10,170 --> 00:24:13,640 KT: your help. I made the biggest mistake of my life, 373 00:24:13,650 --> 00:24:18,099 KT: taking money out of my 401k. Now, I'm 52 years 374 00:24:18,109 --> 00:24:20,119 KT: old with no savings. (laughs) 375 00:24:23,030 --> 00:24:23,849 Suze: Why are you laughing? 376 00:24:23,859 --> 00:24:26,770 KT: Well, because that's the question. It's like you did make 377 00:24:26,780 --> 00:24:28,689 KT: a mistake. Now, what should she do? 378 00:24:28,699 --> 00:24:29,939 Suze: But you want to know something? 379 00:24:30,859 --> 00:24:31,849 KT: It's never too late to start over. 380 00:24:31,859 --> 00:24:35,688 Suze: No. You know what, Marjorie? I don't even like that 381 00:24:35,699 --> 00:24:39,449 Suze: you think this was the biggest mistake of your life. 382 00:24:39,959 --> 00:24:46,329 Suze: This is only money. You are only 52 years of age. 383 00:24:46,339 --> 00:24:48,229 Suze: May I remind you 384 00:24:48,780 --> 00:24:54,040 Suze: at 45, I wrote my very first book, just seven 385 00:24:54,050 --> 00:24:57,489 Suze: years younger than you are now. So if you keep 386 00:24:57,500 --> 00:25:01,420 Suze: having the state of mind that you made the biggest mistake, 387 00:25:01,589 --> 00:25:06,130 Suze: what should you do now? You simply start over 388 00:25:06,410 --> 00:25:12,280 Suze: and you can absolutely rebuild, spend less, save more, put 389 00:25:12,290 --> 00:25:15,869 Suze: money into your 401k. Make sure it's a Roth. You 390 00:25:15,880 --> 00:25:19,489 Suze: can do this, but to do this, you have to 391 00:25:19,500 --> 00:25:25,290 Suze: change your attitude. That's really the answer. Be a warrior 392 00:25:25,380 --> 00:25:28,530 Suze: and don't turn your back on the battlefield and that's 393 00:25:28,540 --> 00:25:31,569 Suze: your own personal battlefield about how you feel about what 394 00:25:31,579 --> 00:25:33,520 Suze: you did. Next question, KT. 395 00:25:34,280 --> 00:25:35,739 KT: OK. So Suze, 396 00:25:36,130 --> 00:25:39,310 KT: this is from Betty and you printed this out because 397 00:25:39,319 --> 00:25:40,579 KT: you said you would read it. 398 00:25:41,369 --> 00:25:44,349 Suze: And I told Betty, I wrote Betty back and I said, ok, 399 00:25:44,530 --> 00:25:48,520 Suze: listen to Thursday's podcast today is Thursday. Betty, I am 400 00:25:48,530 --> 00:25:52,109 Suze: dedicating this entire podcast to you, girlfriend! 401 00:25:52,640 --> 00:25:56,189 KT: Ready? Hi, Suze. Can you please take a break from 402 00:25:56,199 --> 00:25:59,639 KT: Roth IRAs and Roth 401ks. 403 00:26:01,040 --> 00:26:03,698 KT: How about helping those of us who need help with 404 00:26:03,709 --> 00:26:07,300 KT: upcoming RMDs when to take them and what to do 405 00:26:07,310 --> 00:26:11,859 KT: with them. Your podcast is forgetting about the retired people 406 00:26:11,869 --> 00:26:15,500 KT: who can't do Roths now that they are not working. 407 00:26:15,709 --> 00:26:18,099 KT: I am confused about when to take my 408 00:26:18,199 --> 00:26:22,399 KT: RMD out and not have to pay twice in one year. Oh, 409 00:26:22,410 --> 00:26:27,410 KT: she's mad at you, Suze. I will turn 73. She's 410 00:26:27,420 --> 00:26:30,500 KT: your age too. I will turn 73 in December of 411 00:26:30,510 --> 00:26:30,879 KT: this year. 412 00:26:30,890 --> 00:26:31,280 Suze: Yea so don't 413 00:26:31,290 --> 00:26:35,208 Suze: think I'm forgetting about people our age Betty. 414 00:26:35,719 --> 00:26:38,260 KT: I don't need the money to live on any good 415 00:26:38,270 --> 00:26:42,339 KT: suggestions were to move my small Roth to. It has 416 00:26:42,349 --> 00:26:45,739 KT: not done any good. Oh, she's in a mood, Betty. 417 00:26:45,800 --> 00:26:45,869 Suze: Well, Betty, 418 00:26:47,089 --> 00:26:47,109 Suze: get why maybe you're a little upset because RMDs can be confusing. However, listen away, girlfriend. By the way, I've done many, many, many podcasts just on RMDs, but that is besides the point. Legally. You are allowed to wait till April 1st after the year you turn 73. So given that you're going to be 73 in December, you can wait all the way up till April 1st of next year to withdraw your first RMD. 419 00:26:58,459 --> 00:26:58,959 Suze: However, if you do that, you are going to have to withdraw another one for 2025. for your age of 74. So, you should do what I'm gonna do. I will withdraw my very first RMD. I can't believe I'm gonna take out an RMD. That's besides the point. My very first RMD in December of this year. And given you turn 73 in December, you should take out your first RMD in December of this year 420 00:27:29,310 --> 00:27:29,829 Suze: as well. As far as what to do with your small amount of money at your Roth IRA. Well, that's kind of up to you. In past podcasts, I actually gave you a list of a number of ETFs. If all you had was 1, 000 to invest. And there are all kinds of things you can do it, but it all depends, Betty, if you want to risk that money, do you want that money to grow, whatever it may be. 421 00:27:31,734 --> 00:27:37,114 Suze: If this were a traditional retirement account, it would be different, 422 00:27:37,125 --> 00:27:40,165 Suze: but I am not going into that right now because RMDs 423 00:27:41,015 --> 00:27:45,035 Suze: do not apply to you. 424 00:28:05,630 --> 00:28:06,619 Suze: So I really don't know enough about you to tell you what to do with it. However, everybody, this is one of the reasons why I don't want you to be doing traditional IRAs or 401ks. Because then eventually you're going to be faced with the problem that Betty and I are faced with as to, we're having to take out our, our MDs, required minimum distributions, even though we don't need them. 425 00:28:42,219 --> 00:28:42,479 Suze: Ah... ok... 426 00:28:58,300 --> 00:28:59,479 KT: Suze, as a single mom 427 00:28:59,905 --> 00:29:02,954 KT: I racked up a lot of credit card debt. I 428 00:29:02,964 --> 00:29:05,594 KT: wanna get rid of my credit card debt as soon 429 00:29:05,604 --> 00:29:12,324 KT: as possible. My total debt is $20,000. I have 17,000 430 00:29:12,334 --> 00:29:16,854 KT: in investments outside of my 401k and roll over. 431 00:29:17,689 --> 00:29:20,829 KT: I want to cash out all of those investments and 432 00:29:20,839 --> 00:29:24,089 KT: pay off the majority of my credit card debt. The 433 00:29:24,099 --> 00:29:29,869 KT: interest on three cards range between 20..ooh 21 and 24%. 434 00:29:30,680 --> 00:29:33,420 KT: The question Suze is, is this a good idea? 435 00:29:34,199 --> 00:29:35,239 KT: I think it's a great idea. 436 00:29:35,699 --> 00:29:37,099 Suze: To take money out of her 401k? 437 00:29:37,109 --> 00:29:41,280 KT: No, no, no, no, no, no. Outside of the 401k 438 00:29:42,540 --> 00:29:48,020 KT: she has $17,000 outside of it. Go for it. Get 439 00:29:48,030 --> 00:29:50,989 KT: rid of the debt. She really wants to get rid 440 00:29:51,000 --> 00:29:53,760 KT: of it. And what's the, what's the full, what is it? 441 00:29:53,770 --> 00:29:57,119 KT: Feel safe? Feel secure, be happy 442 00:29:58,709 --> 00:30:00,849 KT: outside of her 401k. 443 00:30:02,229 --> 00:30:04,489 KT: So she wants to know, is this a good idea? 444 00:30:05,670 --> 00:30:06,709 Suze: So, do you think she should do that? 445 00:30:07,020 --> 00:30:11,530 KT: Absolutely, if this is a flash quizzy without a doubt? Absolutely. 446 00:30:11,540 --> 00:30:17,219 KT: Take the 17,000 in the investments outside of your 401k 447 00:30:17,229 --> 00:30:19,810 KT: and your rollover. Just take that money and get rid 448 00:30:19,819 --> 00:30:21,640 KT: of the debt. She wants to get rid of the 449 00:30:21,650 --> 00:30:23,810 KT: debt and rip up the cards. 450 00:30:23,819 --> 00:30:24,890 Suze: That's your final answer? 451 00:30:24,964 --> 00:30:25,375 KT: Yea. 452 00:30:25,775 --> 00:30:27,135 Suze: You want this to be your quizzy? 453 00:30:27,704 --> 00:30:28,104 KT: Yea. 454 00:30:32,484 --> 00:30:34,885 Suze: How sure do you feel about this answer on a 455 00:30:34,895 --> 00:30:36,064 Suze: scale of 1 to 10? 456 00:30:36,074 --> 00:30:37,964 KT: Probably 8. 457 00:30:37,974 --> 00:30:39,665 KT: 8 That's it. Not a 10? 458 00:30:39,675 --> 00:30:39,954 KT: I'm not a 10 459 00:30:40,185 --> 00:30:40,395 KT: because I'm not Suze Orman. 460 00:30:42,005 --> 00:30:43,994 Suze: Yeah. Well, you're not even a one here. (Suze makes the wrong answer noise) 461 00:30:45,510 --> 00:30:51,680 Suze: Not good advice because it's not thoroughly thought through. We 462 00:30:51,689 --> 00:30:55,020 Suze: do not know the taxes that she will owe on 463 00:30:55,030 --> 00:30:58,219 Suze: the 17,000. We don't know if it will be ordinary 464 00:30:58,229 --> 00:31:03,729 Suze: income tax and, or capital gains tax. That is number one, 465 00:31:03,849 --> 00:31:07,969 Suze: number two, we don't know if she has a good 466 00:31:08,140 --> 00:31:11,790 Suze: FICO score or not. If she happens to have a 467 00:31:11,800 --> 00:31:13,760 Suze: good FICO score, 468 00:31:14,099 --> 00:31:17,439 Suze: then she would be far better off doing a balanced 469 00:31:17,449 --> 00:31:18,439 Suze: transfer 470 00:31:19,189 --> 00:31:24,469 Suze: to a balance transfer card where she could lock in 0%, KT, 471 00:31:24,640 --> 00:31:30,890 Suze: for either 18 to 21 months while leaving the $17,000 472 00:31:30,900 --> 00:31:35,209 Suze: absolutely growing because the markets are still performing right now. 473 00:31:35,589 --> 00:31:39,250 Suze: We don't know if the $17,000 is invested in such 474 00:31:39,260 --> 00:31:41,689 Suze: a way that's giving her income. 475 00:31:42,479 --> 00:31:46,119 Suze: We don't know those things. So how can you just 476 00:31:46,130 --> 00:31:50,479 Suze: say "Absolutely do it." You see how superficial that answer was? 477 00:31:51,819 --> 00:31:52,670 KT: Yes. 478 00:31:54,599 --> 00:31:58,319 Suze: Well, KT ready for this one, as many of you 479 00:31:58,329 --> 00:32:02,060 Suze: may know I do scan or go through depending on 480 00:32:02,069 --> 00:32:05,520 Suze: how many are there, the emails that come in, not 481 00:32:05,530 --> 00:32:07,880 Suze: knowing which one KT is going to choose. But chances 482 00:32:07,890 --> 00:32:10,060 Suze: are she's going to choose one that I've already read 483 00:32:10,069 --> 00:32:11,140 Suze: on some level. 484 00:32:11,500 --> 00:32:14,780 Suze: And I read this once I wrote Dorothy and I said, 485 00:32:14,790 --> 00:32:18,329 Suze: what's your FICO score? She wrote back and said, 753. 486 00:32:18,810 --> 00:32:20,900 Suze: I wrote her back and I said, you should do 487 00:32:20,910 --> 00:32:25,680 Suze: a balance transfer card for at least 21 months at 0% interest. 488 00:32:25,689 --> 00:32:27,790 Suze: She said, oh, I tried that but I could only 489 00:32:27,800 --> 00:32:29,479 Suze: get it for 18 months. 490 00:32:29,900 --> 00:32:33,640 Suze: And I'm like, who cares? 18 months, 15 months, 21 491 00:32:33,650 --> 00:32:36,900 Suze: months do a balance transfer and pay it off that 492 00:32:36,910 --> 00:32:40,380 Suze: way and do not sell your stocks. And she wrote 493 00:32:40,390 --> 00:32:42,760 Suze: back and said, yeah, I don't want to sell them. 494 00:32:42,770 --> 00:32:46,569 Suze: So then don't everybody before you sell an investment to 495 00:32:46,579 --> 00:32:47,280 Suze: pay off 496 00:32:48,189 --> 00:32:52,599 Suze: credit card debt, check your FICO score and if it's high... 497 00:32:52,890 --> 00:32:56,880 Suze: should be hopefully 760 or above. You can then do 498 00:32:56,890 --> 00:33:00,859 Suze: a balance transfer card and deal with it that way. Ok KT, 499 00:33:01,290 --> 00:33:02,579 Suze: you already had your quizzy. 500 00:33:02,979 --> 00:33:04,060 KT: I did. 501 00:33:04,410 --> 00:33:07,680 Suze: And I really liked the quizzy that I had for you, but... 502 00:33:08,150 --> 00:33:08,680 KT: Save it for next time. 503 00:33:08,689 --> 00:33:09,119 Suze: You'll just 504 00:33:09,130 --> 00:33:13,000 Suze: have to wait right. The next one will be after 505 00:33:13,010 --> 00:33:14,000 Suze: the Super Bowl 506 00:33:14,569 --> 00:33:18,869 Suze: has gone off, which is this Sunday, everybody. 507 00:33:18,969 --> 00:33:21,020 KT: Chiefs go Chiefs, baby. 508 00:33:21,050 --> 00:33:23,709 Suze: It's so hard, you know, because I'm from San Francisco. 509 00:33:23,719 --> 00:33:24,829 Suze: It's not actually 510 00:33:25,510 --> 00:33:25,969 KT: You want your Mahomes. 511 00:33:27,459 --> 00:33:28,640 Suze: Oh you bet I do. I love it. I'm 512 00:33:28,660 --> 00:33:31,910 Suze: getting emails from everybody and all my friends in San Francisco. 513 00:33:31,920 --> 00:33:32,439 KT: Don't tell them. 514 00:33:33,239 --> 00:33:36,479 Suze: How can they... I not... everybody knows I'm for the 515 00:33:36,489 --> 00:33:41,540 Suze: Chiefs and I'm actually really thrilled to see Taylor Swift there. 516 00:33:42,479 --> 00:33:44,650 Suze: It's her first Super Bowl. 517 00:33:44,660 --> 00:33:47,959 KT: It's she just won. She just made history and the 518 00:33:47,969 --> 00:33:51,449 KT: Grammys let Travis make history at Super Bowl. 519 00:33:51,780 --> 00:33:55,130 Suze: For those of you who don't know Taylor Swift just 520 00:33:55,140 --> 00:33:58,829 Suze: won for the first time in history. The album of 521 00:33:58,839 --> 00:34:02,329 Suze: the year for the fourth time nobody else has ever 522 00:34:02,339 --> 00:34:06,609 Suze: in the history of the Grammys did that. 523 00:34:06,900 --> 00:34:12,239 Suze: So, girlfriend, I'm so congratulations. You've done something that nobody 524 00:34:12,250 --> 00:34:15,949 Suze: else has done. So go to the Super Bowl. Have 525 00:34:15,959 --> 00:34:18,860 Suze: a good time. Get back on the plane and continue 526 00:34:18,870 --> 00:34:21,689 Suze: that tour and we all look forward to your new 527 00:34:21,699 --> 00:34:26,040 Suze: album coming out in April. But until then, 528 00:34:26,469 --> 00:34:28,659 Suze: there's only one thing that we want all of you 529 00:34:28,669 --> 00:34:31,000 Suze: to remember when it comes to your money. What is 530 00:34:31,010 --> 00:34:31,779 Suze: it, my love? 531 00:34:31,790 --> 00:34:32,629 KT: It's people 532 00:34:32,639 --> 00:34:35,129 KT: first, then money then things. 533 00:34:36,030 --> 00:34:39,550 Suze: And if you can just do that, put yourself first, 534 00:34:39,560 --> 00:34:43,239 Suze: understand the strength that you have inside. You understand that 535 00:34:43,250 --> 00:34:47,379 Suze: you have the ability to trust yourself, have the understanding 536 00:34:47,790 --> 00:34:50,379 Suze: that you can all do this 537 00:34:51,090 --> 00:34:54,899 Suze: and you put yourself first, then money will follow and 538 00:34:54,909 --> 00:34:57,139 Suze: then you'll have enough money to do all the things 539 00:34:57,149 --> 00:35:00,250 Suze: or buy all the things that you want. So until 540 00:35:00,260 --> 00:35:03,590 Suze: then you are to be what KT? 541 00:35:03,600 --> 00:35:05,389 KT: Unstoppable.