1 00:00:08,130 --> 00:00:13,680 Suze: November 27th, 2025. Welcome everybody to the Women and Money podcast, 2 00:00:13,689 --> 00:00:17,549 Suze: and everybody, do you hear me? Everybody. That means everybody 3 00:00:17,850 --> 00:00:21,590 Suze: smart enough to listen, even Colo. 4 00:00:22,610 --> 00:00:27,700 KT: Somebody wanted to wish Suze and I a very happy Thanksgiving. 5 00:00:28,290 --> 00:00:29,930 Colo: Happy Thanksgiving KT and Suze. 6 00:00:29,930 --> 00:00:33,330 Suze: And everybody that loves you. Do you know how many 7 00:00:33,330 --> 00:00:35,369 Suze: people love you on this podcast, 8 00:00:35,409 --> 00:00:40,009 KT: But they're still making their famous stuffing together, and then 9 00:00:40,009 --> 00:00:44,810 KT: Colo's gonna go to his brother Faber's house and visit with, yeah. 10 00:00:44,955 --> 00:00:47,694 KT: Maria and Annie, his wife is coming and her.. 11 00:00:47,694 --> 00:00:48,775 Colo: My wife is coming to town 12 00:00:48,775 --> 00:00:53,634 KT: And wait there's there's one more super addition to the family. 13 00:00:53,955 --> 00:00:54,654 KT: Who is it? 14 00:00:54,775 --> 00:00:54,805 Colo: Leah, my niece. 15 00:00:55,784 --> 00:00:56,784 KT: How old is she? 16 00:00:57,034 --> 00:00:58,814 Colo: She's only like 15 days old. 17 00:00:59,115 --> 00:01:01,575 Suze: Wow. So anyway. 18 00:01:02,200 --> 00:01:05,488 Suze: We love you, Colo. Happy Thanksgiving to you as well, 19 00:01:05,889 --> 00:01:08,919 Suze: to Annie, to your entire family. Anything else you want 20 00:01:08,919 --> 00:01:09,929 Suze: to say before you go? 21 00:01:10,010 --> 00:01:12,809 Colo: Yes, I wish everybody a happy, a super 22 00:01:12,809 --> 00:01:14,349 Colo: spectacular Thanksgiving 23 00:01:14,349 --> 00:01:14,930 Colo: to 24 00:01:14,930 --> 00:01:15,180 Colo: everybody. 25 00:01:15,410 --> 00:01:19,208 Suze: Ah, thank you, sweetheart. There you go. All right, now. 26 00:01:20,019 --> 00:01:22,379 Suze: It's always so nice to have him in the studio 27 00:01:22,379 --> 00:01:26,580 Suze: with us, isn't it? OK, there you go. But it's 28 00:01:26,580 --> 00:01:28,569 Suze: kind of funny. You want to know what happened before 29 00:01:28,569 --> 00:01:31,300 Suze: he came in? Everybody, go on, KT. Tell him you 30 00:01:31,300 --> 00:01:32,080 Suze: smelled him. 31 00:01:34,309 --> 00:01:37,510 KT: Wait, I didn't let him in the studio or near 32 00:01:37,510 --> 00:01:43,919 KT: Suze in case he smelled like anything sweat, um, chemicals 33 00:01:43,919 --> 00:01:45,790 KT: from cleaning things, whatever it is. 34 00:01:46,029 --> 00:01:47,180 Suze: Because our studio is really really small. 35 00:01:47,180 --> 00:01:49,720 KT: So I said really, let me smell you, and he 36 00:01:49,720 --> 00:01:52,110 KT: looked at me and then he leaned down and he 37 00:01:52,110 --> 00:01:55,680 KT: smelled me. I said, no, no, no, you don't smell bad. 38 00:01:55,750 --> 00:01:58,879 KT: I just wanna make sure you're not around any chemicals. 39 00:01:59,069 --> 00:02:02,470 Suze: So anyway, so that's when you know you truly 40 00:02:02,690 --> 00:02:05,519 Suze: love somebody. All right, KT, what do you have for us today? 41 00:02:05,519 --> 00:02:08,649 KT: My first question is from Annie. She said, Love, love, 42 00:02:08,770 --> 00:02:13,250 KT: love your podcast. I started on my investment journey thanks 43 00:02:13,250 --> 00:02:17,330 KT: to your Suze Orman show years ago. So grateful for 44 00:02:17,330 --> 00:02:21,720 KT: all your sage and easy to understand advice. And here's 45 00:02:21,720 --> 00:02:27,089 KT: the question: Does investing in a Roth 401k not make 46 00:02:27,089 --> 00:02:29,449 KT: sense at a certain tax bracket? 47 00:02:31,119 --> 00:02:31,690 Suze: Really? 48 00:02:33,740 --> 00:02:37,100 Suze: Listen, everybody, I don't care what tax bracket you're in. 49 00:02:37,300 --> 00:02:40,220 Suze: I don't care actually what your CPA says to you. 50 00:02:40,369 --> 00:02:42,910 Suze: I don't care what anybody says to you. 51 00:02:43,820 --> 00:02:48,820 Suze: I find it very difficult to find any situation where 52 00:02:48,820 --> 00:02:53,418 Suze: a Roth doesn't make sense, even if you are two 53 00:02:53,419 --> 00:02:59,538 Suze: years away from retirement. Just saying, now, obviously, sometimes when 54 00:02:59,538 --> 00:03:02,299 Suze: you're older and everything, you have to look at your 55 00:03:02,300 --> 00:03:06,130 Suze: income because of Medicare Part B and all of that stuff. However, 56 00:03:06,460 --> 00:03:08,800 Suze: in this situation, you're still working. 57 00:03:09,250 --> 00:03:12,410 Suze: Do a Roth 401k next KT. 58 00:03:12,610 --> 00:03:15,470 KT: So Suze, I'm just gonna be pretty gentle because it's 59 00:03:15,470 --> 00:03:21,130 KT: Thanksgiving with a few very lightweight questions and short ones 60 00:03:21,130 --> 00:03:24,570 KT: because I've got something coming up that you all might 61 00:03:24,570 --> 00:03:28,809 KT: wanna stay tuned to listen to. All right, so my 62 00:03:28,809 --> 00:03:32,490 KT: next question is, Suze KT, I'm finishing up my documents 63 00:03:32,490 --> 00:03:36,250 KT: but just wanted to confirm for the revocable trust. 64 00:03:36,529 --> 00:03:41,149 KT: I'm supposed to be the settlor and the trustee? Or 65 00:03:41,149 --> 00:03:43,850 KT: do I name someone else as the trustee? 66 00:03:44,130 --> 00:03:47,350 Suze: Now they're talking about in this question. 67 00:03:48,270 --> 00:03:53,990 Suze: The must-have documents, right? And the must-have documents are a 68 00:03:53,990 --> 00:03:58,389 Suze: living revocable trust, a will, an advance directive, and durable 69 00:03:58,389 --> 00:04:00,589 Suze: power of attorney for health care, as well as a 70 00:04:00,589 --> 00:04:04,509 Suze: financial power of attorney. When it comes to the living 71 00:04:04,509 --> 00:04:05,910 Suze: revocable trust. 72 00:04:06,520 --> 00:04:11,279 Suze: The person that creates the trust is known as the 73 00:04:11,279 --> 00:04:17,579 Suze: trustor or the settlor. It's your trust. You created it. 74 00:04:18,040 --> 00:04:22,479 Suze: The trustee is the person who makes all the decisions 75 00:04:22,480 --> 00:04:26,440 Suze: about what you want to do in that trust. Normally 76 00:04:26,640 --> 00:04:32,720 Suze: the trustor or settlor and the trustee are the same person. 77 00:04:33,130 --> 00:04:38,412 Suze: So absolutely you need to be those two. All right. 78 00:04:38,412 --> 00:04:39,078 KT: All right. 79 00:04:39,279 --> 00:04:42,549 Suze: By the way, if you're interested in the must-have documents, 80 00:04:42,839 --> 00:04:47,540 Suze: go to must-havedocs.com and that's where you can currently get them. 81 00:04:47,720 --> 00:04:52,320 Suze: I think they're $99. Listen to me, everybody, they are 82 00:04:52,320 --> 00:04:56,619 Suze: going to change sometime next year in terms of their price, 83 00:04:56,920 --> 00:04:59,720 Suze: and you are getting $2,500 worth of state 84 00:04:59,795 --> 00:05:02,595 Suze: of the art documents you can share it with all 85 00:05:02,595 --> 00:05:06,474 Suze: of your family members, meaning you can have $2,500 worth 86 00:05:06,475 --> 00:05:10,065 Suze: of state of the art documents. Your sisters, your brothers, 87 00:05:10,125 --> 00:05:13,734 Suze: your nieces, whoever it is, they also can, they all 88 00:05:13,734 --> 00:05:16,945 Suze: get their own password. They all create their own site, 89 00:05:17,195 --> 00:05:20,433 Suze: so you should take advantage of it while you can. 90 00:05:20,674 --> 00:05:22,704 Suze: And KT, I just have to say this as well, 91 00:05:22,954 --> 00:05:26,493 Suze: if you're looking for a one year certificate right now. 92 00:05:26,970 --> 00:05:31,760 Suze: I would have all of you go to myalliant.com, because 93 00:05:31,769 --> 00:05:34,970 Suze: I think rates are gonna drop shortly, and you can 94 00:05:34,970 --> 00:05:40,940 Suze: still all get a one year certificate for 4.10% APR 95 00:05:41,488 --> 00:05:44,750 Suze: and for those of you who have $75,000 or more, 96 00:05:44,928 --> 00:05:49,130 Suze: you will get 4.15 APR. You might want to check 97 00:05:49,130 --> 00:05:51,510 Suze: it out cause I have a feeling it's gonna change. 98 00:05:51,690 --> 00:05:52,510 Suze: All right, go on. 99 00:05:53,220 --> 00:05:58,320 KT: This is gonna be a real gobbly kind of podcast, gobble, gobble, gobble. So, 100 00:05:58,529 --> 00:05:59,519 KT: from Donna. 101 00:06:01,070 --> 00:06:02,618 KT: Suze, I wanted to ask... 102 00:06:02,869 --> 00:06:04,790 Suze: what kind of podcast do you think this is gonna be today? 103 00:06:05,100 --> 00:06:08,829 KT: A gobble, gobble, gobble podcast, Suze. I got a gobbling going on. 104 00:06:09,290 --> 00:06:11,130 Suze: I thought you were gonna say this is gonna be 105 00:06:11,260 --> 00:06:15,799 Suze: a podcast stuffed with incredible financial advice. Get it? Yes, 106 00:06:16,988 --> 00:06:19,149 Suze: that too. Do you know people are still writing in 107 00:06:19,149 --> 00:06:20,420 Suze: wanting to know the recipe... 108 00:06:20,470 --> 00:06:20,988 KT: The recipe. 109 00:06:21,070 --> 00:06:21,790 Suze: It's somewhere. 110 00:06:21,790 --> 00:06:23,829 KT: We posted it a million times, I think it's on the wall. 111 00:06:24,885 --> 00:06:28,644 Suze: Yeah, look on the Women and Money Community app, scroll 112 00:06:28,644 --> 00:06:31,724 Suze: all the way down and it's there somewhere. All right, KT. 113 00:06:32,204 --> 00:06:34,953 KT: So this is from Donna. I wanted to ask you 114 00:06:34,954 --> 00:06:40,044 KT: a quick question regarding something Fidelity sent to me. Fidelity 115 00:06:40,045 --> 00:06:44,244 KT: asked if I wanted to make extra income by lending 116 00:06:44,244 --> 00:06:46,885 KT: out securities I already own. 117 00:06:47,380 --> 00:06:50,979 KT: Is this safe and should I consider it? I never 118 00:06:50,980 --> 00:06:52,140 KT: heard this before. That's why i picked it. 119 00:06:52,899 --> 00:06:53,540 Suze: Shame on Fidelity. 120 00:06:54,299 --> 00:06:58,320 KT: Oh, she's turning red. Everybody, like that turkey in the oven. 121 00:06:58,579 --> 00:06:59,709 Suze: Do turkeys turn red? 122 00:06:59,899 --> 00:07:02,260 Suze: Yeah, they get golden red... bronze. 123 00:07:02,500 --> 00:07:07,940 Suze: All right, so listen, in almost every single case, the 124 00:07:07,940 --> 00:07:12,660 Suze: answer is absolutely not. And why is that? 125 00:07:13,470 --> 00:07:16,829 Suze: Because you are lending out your stocks, your ETFs, whatever 126 00:07:16,829 --> 00:07:20,510 Suze: it may be, and therefore they are no longer number 127 00:07:20,510 --> 00:07:25,109 Suze: one protected by SIPC. That's where you are protected in 128 00:07:25,109 --> 00:07:28,309 Suze: case something happens to brokerage firms. You're giving up your 129 00:07:28,309 --> 00:07:31,269 Suze: rights to vote. You may not get the same tax 130 00:07:31,269 --> 00:07:34,390 Suze: treatment and the extra income that they're offering you so 131 00:07:34,390 --> 00:07:38,390 Suze: that they can lend out your certificates so other people 132 00:07:38,390 --> 00:07:41,029 Suze: can short them, do all these things with them. 133 00:07:41,549 --> 00:07:45,149 Suze: Right, the extra income is so small it's not worth it, 134 00:07:45,309 --> 00:07:49,470 Suze: and the added risk for very little reward, I don't 135 00:07:49,470 --> 00:07:53,589 Suze: think so. Therefore, just stick with owning your certificates outright. 136 00:07:53,790 --> 00:07:56,130 Suze: The mere fact you don't even know what that means 137 00:07:56,940 --> 00:08:01,619 Suze: says no. And again, shame on you, Fidelity, without explaining 138 00:08:01,619 --> 00:08:02,390 Suze: everything to everybody. Go on. 139 00:08:02,519 --> 00:08:05,230 KT: All right. The next question is from Sharon. 140 00:08:05,454 --> 00:08:08,864 KT: Suze, I picked this one because this question, it's just 141 00:08:08,864 --> 00:08:12,984 KT: one line, but it's a question almost everyone should be 142 00:08:12,984 --> 00:08:17,744 KT: asking that it pertains to ready? from Sharon: Suze, how 143 00:08:17,744 --> 00:08:22,725 KT: can you protect going from two incomes to one income? 144 00:08:23,945 --> 00:08:27,214 Suze: Do you all remember back in 2008, if you were 145 00:08:27,214 --> 00:08:29,345 Suze: watching the Suze Orman Show back then. 146 00:08:30,320 --> 00:08:33,119 Suze: I was saying to all of you, you need to 147 00:08:33,119 --> 00:08:37,400 Suze: practice living on one income even though both of you 148 00:08:37,400 --> 00:08:41,000 Suze: may be working. Take one of your incomes and put 149 00:08:41,000 --> 00:08:44,880 Suze: it away and just see, can you make it on 150 00:08:44,880 --> 00:08:49,679 Suze: one income, because back then it was very probable one 151 00:08:49,679 --> 00:08:52,320 Suze: of you was going to lose your job because we 152 00:08:52,320 --> 00:08:56,080 Suze: were actually in a depression, in my opinion, back then. 153 00:08:57,020 --> 00:09:01,750 Suze: The same holds true right now, Sharon. You can't necessarily 154 00:09:01,750 --> 00:09:04,650 Suze: protect yourself from going from two incomes to one. 155 00:09:05,929 --> 00:09:10,929 Suze: What you can do is, number one, control what your 156 00:09:10,929 --> 00:09:12,690 Suze: income is spent on. 157 00:09:13,690 --> 00:09:18,020 Suze: And if I were you, why don't you play one income? 158 00:09:18,669 --> 00:09:22,710 Suze: See what it's like. See what would happen if one 159 00:09:22,710 --> 00:09:26,650 Suze: of you did die. One of you lost your job, 160 00:09:26,989 --> 00:09:29,809 Suze: because death is actually different, I'm sorry to say, than 161 00:09:29,809 --> 00:09:32,669 Suze: losing a job. When you lose a job, you still 162 00:09:32,669 --> 00:09:35,630 Suze: might get your Social Security. When you lose a job, 163 00:09:35,710 --> 00:09:38,109 Suze: you still may have something coming in. You have the 164 00:09:38,109 --> 00:09:40,989 Suze: ability to get another one, even if it's, you know, 165 00:09:41,049 --> 00:09:45,189 Suze: a few dollars an hour, whatever it is. When death occurs, 166 00:09:45,309 --> 00:09:46,150 Suze: it's gone. 167 00:09:46,630 --> 00:09:49,940 Suze: So possibly you've lost a Social Security check, you've lost 168 00:09:49,940 --> 00:09:56,239 Suze: a pension, possibly all kinds of things can be lost. Therefore, 169 00:09:56,909 --> 00:10:01,950 Suze: practice now what happens if it were death and practice 170 00:10:01,950 --> 00:10:04,890 Suze: now what it would be if it was just simply 171 00:10:04,989 --> 00:10:08,030 Suze: retirement or one of you lost a job. 172 00:10:08,590 --> 00:10:11,679 Suze: If it's disability, by the way, you can always get 173 00:10:11,679 --> 00:10:16,820 Suze: a disability policy because 1 out of 4 people can 174 00:10:16,820 --> 00:10:20,380 Suze: become disabled and all of a sudden you've lost that income, 175 00:10:20,570 --> 00:10:26,260 Suze: but you can protect against that by purchasing a disability policy. 176 00:10:26,840 --> 00:10:29,440 Suze: So there are things you can do, but the best 177 00:10:29,440 --> 00:10:30,700 Suze: thing you can do. 178 00:10:31,070 --> 00:10:34,809 Suze: Is get a grip on what will one income pay 179 00:10:34,809 --> 00:10:37,429 Suze: for and if your expenses are too much, how do 180 00:10:37,429 --> 00:10:40,250 Suze: you cut your expenses if you can't afford your home 181 00:10:40,710 --> 00:10:43,929 Suze: all right, now maybe you downsize whatever it is, but 182 00:10:43,989 --> 00:10:48,229 Suze: if you plan for all of that, then you've protected 183 00:10:48,229 --> 00:10:50,909 Suze: yourself from the what ifs of life. Next question, KT. 184 00:10:51,070 --> 00:10:54,789 KT: OK, as I said, short and sweet, this is from Gwen. 185 00:10:55,530 --> 00:10:58,590 KT: What are your thoughts on real estate at the moment? 186 00:10:58,849 --> 00:11:01,010 Suze: Not great, to tell you the truth, KT. 187 00:11:01,809 --> 00:11:05,369 Suze: There used to come a time where owning a home 188 00:11:05,369 --> 00:11:10,609 Suze: was the American dream, and that was when interest rates 189 00:11:10,609 --> 00:11:16,169 Suze: were lower, insurance was lower, property taxes were lower, and 190 00:11:16,169 --> 00:11:22,609 Suze: truthfully across the board expenses were lower, and it just 191 00:11:22,609 --> 00:11:26,890 Suze: made sense. I have to tell you, it doesn't make 192 00:11:26,890 --> 00:11:31,429 Suze: sense now for a whole lot of people. Why? 193 00:11:32,250 --> 00:11:36,030 Suze: Mortgage rates are still high. Prices of real estate. 194 00:11:36,849 --> 00:11:37,799 Suze: Still high. 195 00:11:38,559 --> 00:11:43,700 Suze: Inflation is still high, and when I mean by inflation, 196 00:11:44,159 --> 00:11:47,989 Suze: I'm not talking about what everybody says the inflation rate is, 197 00:11:48,280 --> 00:11:53,159 Suze: I'm talking about your own personal inflation, what it costs 198 00:11:53,159 --> 00:11:55,039 Suze: for you to live. 199 00:11:55,900 --> 00:11:59,909 Suze: To shop, to eat, to do anything, I get that 200 00:11:59,909 --> 00:12:03,390 Suze: gasoline prices have gone down, but there is more to 201 00:12:03,390 --> 00:12:08,429 Suze: living than just gasoline prices. But the real thing that 202 00:12:08,429 --> 00:12:10,090 Suze: concerns me truthfully. 203 00:12:11,599 --> 00:12:17,159 Suze: Is the insurance it takes to insure your home and 204 00:12:17,159 --> 00:12:21,559 Suze: what that is going to cost you. And sometimes it 205 00:12:21,559 --> 00:12:25,130 Suze: just doesn't make sense because in many places in the 206 00:12:25,130 --> 00:12:29,598 Suze: United States, your property insurance might even be more than 207 00:12:29,599 --> 00:12:30,840 Suze: your mortgage payment. 208 00:12:31,640 --> 00:12:35,049 Suze: Is your job secure? Many of you in the federal 209 00:12:35,049 --> 00:12:38,450 Suze: government thought your jobs were secure, and then all of 210 00:12:38,450 --> 00:12:41,689 Suze: a sudden you also didn't get back pay. And now 211 00:12:41,690 --> 00:12:43,830 Suze: is your mortgage in jeopardy? 212 00:12:44,760 --> 00:12:48,839 Suze: So, you have to know, is you purchasing a home, 213 00:12:49,000 --> 00:12:55,359 Suze: real estate, wise for you in your particular situation? Can 214 00:12:55,359 --> 00:12:58,440 Suze: your situation change? Do you have at least a 12 215 00:12:58,440 --> 00:13:02,960 Suze: month emergency fund, besides 20% to put down? Can you 216 00:13:02,960 --> 00:13:07,200 Suze: afford increases in insurance, property tax, and everything? Do you 217 00:13:07,200 --> 00:13:11,919 Suze: have the money to maintain the home? So, it depends. Also, 218 00:13:12,000 --> 00:13:14,520 Suze: I know that I'm going on on this, KT, but. 219 00:13:15,059 --> 00:13:18,979 Suze: You're the one who asked the question, right, is that 220 00:13:19,260 --> 00:13:24,760 Suze: Mother Nature is seriously concerning me. There isn't a time 221 00:13:24,940 --> 00:13:30,039 Suze: that I turn on the television and I don't see rains, floods, 222 00:13:30,130 --> 00:13:34,679 Suze: all these things happening in Texas, Southern California being deluged 223 00:13:34,679 --> 00:13:39,820 Suze: by once again water, fire here, dust storms here, all 224 00:13:39,820 --> 00:13:43,699 Suze: kinds of things, right? Tornadoes. 225 00:13:44,419 --> 00:13:45,319 Suze: And so 226 00:13:46,090 --> 00:13:51,609 Suze: Mother Nature is a serious concern to me and therefore 227 00:13:51,609 --> 00:13:55,689 Suze: it should be to you as well, just something to 228 00:13:55,690 --> 00:13:57,130 Suze: think about, all right. 229 00:13:57,869 --> 00:13:59,510 KT: Yeah, real estate's really tricky. 230 00:13:59,700 --> 00:14:03,049 Suze: Fires. Think about fires in the Los Angeles area 231 00:14:03,049 --> 00:14:04,349 KT: And hurricanes. 232 00:14:04,349 --> 00:14:09,349 Suze: And how many emails we have gotten saying the insurance 233 00:14:09,349 --> 00:14:12,989 Suze: company KT isn't paying them. Their insurance company canceled them 234 00:14:12,989 --> 00:14:17,750 Suze: right before the fire. They had $900,000 and the insurance 235 00:14:17,750 --> 00:14:22,429 Suze: company only gave them $500,000. They don't know what to do, so... 236 00:14:23,710 --> 00:14:26,150 Suze: I don't love real estate as much as I once did. 237 00:14:26,309 --> 00:14:26,590 Suze: All right, go on. 238 00:14:26,750 --> 00:14:30,109 KT: Suze, I agree, real estate's really tricky these days. So 239 00:14:30,109 --> 00:14:32,789 KT: if you don't buy a home, or you can't buy 240 00:14:32,789 --> 00:14:34,010 KT: a home, what do you do? 241 00:14:34,229 --> 00:14:36,869 Suze: Um, I have to tell you, you rent, and I 242 00:14:36,869 --> 00:14:39,390 Suze: know that a lot of you are like, oh, but 243 00:14:39,609 --> 00:14:43,400 Suze: I can't find an apartment. Apartments are so expensive. I'm 244 00:14:43,469 --> 00:14:47,669 Suze: paying somebody else to own something outright. The most important 245 00:14:47,669 --> 00:14:49,929 Suze: thing you can do is be realistic. 246 00:14:50,849 --> 00:14:55,650 Suze: What can you afford and what can you not? And 247 00:14:55,650 --> 00:14:59,469 Suze: don't feel like you're a failure if you do rent. 248 00:14:59,809 --> 00:15:02,650 Suze: Some of the wealthiest people I know have only rented. 249 00:15:03,659 --> 00:15:05,369 Suze: Just think about it, OK. 250 00:15:05,700 --> 00:15:09,979 KT: My next question is again back to federal employees because 251 00:15:09,979 --> 00:15:14,349 KT: I think they deserve a little more TLC these days. Um, 252 00:15:14,380 --> 00:15:17,739 KT: this is from Kelly. She said, Suze, what should federal 253 00:15:17,739 --> 00:15:22,650 KT: workers be doing about this new Roth in-plan conversion option? 254 00:15:22,979 --> 00:15:26,340 KT: Do it now? Wait till we are retired to convert 255 00:15:26,340 --> 00:15:29,539 KT: money in our traditional to the Roth? She said, I've 256 00:15:29,539 --> 00:15:33,059 KT: heard answers from too many people. I only trust you. 257 00:15:33,640 --> 00:15:37,570 Suze: Good, because you know, KT, remember a few podcasts ago 258 00:15:37,750 --> 00:15:39,599 Suze: you asked me why do they have to check to 259 00:15:39,599 --> 00:15:43,919 Suze: see if they can transfer right from a traditional 401k 260 00:15:43,919 --> 00:15:47,750 Suze: to a Roth, and I said not all companies allowed it. Well, 261 00:15:47,799 --> 00:15:50,719 Suze: guess what? Federal government didn't really allow it. You could 262 00:15:50,719 --> 00:15:54,349 Suze: have a Roth TSP, but you couldn't transfer from a 263 00:15:54,349 --> 00:15:59,840 Suze: traditional TSP to a Roth TSP. Starting 2026. You're gonna 264 00:15:59,840 --> 00:16:03,200 Suze: be able to. So here's the thing. 265 00:16:03,869 --> 00:16:06,549 Suze: I want all of you to listen to me right 266 00:16:06,549 --> 00:16:13,750 Suze: now about the stocks. Many things are down considerably. So 267 00:16:13,750 --> 00:16:17,969 Suze: if there's ever a time to convert to a Roth, 268 00:16:18,270 --> 00:16:22,659 Suze: now is the time. Forget the TSP for just one second. 269 00:16:23,030 --> 00:16:25,109 Suze: You're in a traditional IRA. 270 00:16:26,219 --> 00:16:31,960 Suze: And you own Palantir, IONQ, Ibit all of those stocks. 271 00:16:32,429 --> 00:16:35,909 Suze: Now is the time to convert to a Roth if 272 00:16:35,909 --> 00:16:41,030 Suze: you can, because those prices are down considerably, because they're 273 00:16:41,030 --> 00:16:45,090 Suze: down considerably. Your taxes will be less. 274 00:16:45,830 --> 00:16:49,530 Suze: And therefore that's how you make your money, make more money. 275 00:16:49,869 --> 00:16:53,390 Suze: You convert half this year maybe, half next year, but 276 00:16:53,390 --> 00:16:58,070 Suze: if your portfolio is down, now is the time to 277 00:16:58,070 --> 00:17:02,510 Suze: convert if you were thinking about converting. Again back to 278 00:17:02,510 --> 00:17:04,349 Suze: Kelly and this question. 279 00:17:05,420 --> 00:17:10,810 Suze: Convert, convert. The key is how much do you convert, 280 00:17:10,819 --> 00:17:14,459 Suze: given I don't know a lot about your circumstance. 281 00:17:15,219 --> 00:17:18,339 Suze: Convert amounts so you don't go into a higher tax 282 00:17:18,339 --> 00:17:19,540 Suze: bracket number one. 283 00:17:20,319 --> 00:17:22,640 Suze: If you can and you don't have a lot in 284 00:17:22,640 --> 00:17:25,550 Suze: the TSP convert as much as you can while it's 285 00:17:25,550 --> 00:17:30,199 Suze: probably down if you invested in certain government funds that 286 00:17:30,199 --> 00:17:35,599 Suze: may be down and do that. Absolutely convert. Do not 287 00:17:35,599 --> 00:17:40,479 Suze: wait until you are retired. If you are retired and 288 00:17:40,479 --> 00:17:43,238 Suze: you are converting, you will then be making one of 289 00:17:43,239 --> 00:17:46,680 Suze: the biggest mistakes out there, and the reason is. 290 00:17:47,729 --> 00:17:51,409 Suze: What will that do to your income in regards to 291 00:17:51,410 --> 00:17:55,489 Suze: the Medicare B premium? You have to think about that, 292 00:17:55,670 --> 00:17:59,389 Suze: and maybe I'll talk about that more on Sunday's podcast. 293 00:17:59,569 --> 00:18:00,849 Suze: All right, KT next. 294 00:18:01,719 --> 00:18:04,369 KT: OK, Suze, this is what I've been holding back on 295 00:18:04,369 --> 00:18:08,609 KT: this particular question. It's a little complicated, but it's a 296 00:18:08,609 --> 00:18:11,989 KT: fascinating story and I think many of the listeners may 297 00:18:11,989 --> 00:18:12,869 KT: relate to it. 298 00:18:13,750 --> 00:18:17,369 KT: This is from a stepmom who said, Hi, Suze and KT. 299 00:18:17,869 --> 00:18:21,969 KT: My husband and I recently discovered that his 42 year 300 00:18:21,969 --> 00:18:24,909 KT: old daughter is financially clueless. 301 00:18:25,670 --> 00:18:27,189 Suze: That should be the name of this podcast. 302 00:18:27,270 --> 00:18:32,390 KT: Financially Clueless. All right, she has shown a strong desire 303 00:18:32,390 --> 00:18:35,109 KT: to learn and improve her financial situation. 304 00:18:35,392 --> 00:18:39,542 KT: And we're both deeply concerned about her well-being and are 305 00:18:39,542 --> 00:18:44,223 KT: seeking your expert advice. So she said last week we 306 00:18:44,223 --> 00:18:49,302 KT: discovered she does not know how to budget, understand bank statements, 307 00:18:49,353 --> 00:18:50,873 KT: or balance her checking. 308 00:18:51,383 --> 00:18:53,192 Suze: Wait, before you go on, how do you think they 309 00:18:53,192 --> 00:18:56,623 Suze: discovered that? What do you think happened to them? 310 00:18:56,906 --> 00:18:59,946 Suze: That made them discover that she didn't know how to any of that? 311 00:18:59,946 --> 00:19:03,035 KT: They somehow got involved with her money and 312 00:19:03,895 --> 00:19:05,776 KT: you'll see you're right, that's the biggest. 313 00:19:06,125 --> 00:19:07,676 Suze: How do you discover that people? 314 00:19:08,556 --> 00:19:12,635 KT: How do you know that? So anyway, the stepdaughter moved 315 00:19:12,635 --> 00:19:16,015 KT: from her mom's home in Alabama to their California home 316 00:19:16,475 --> 00:19:18,156 KT: in 2022. 317 00:19:18,589 --> 00:19:21,630 KT: They allowed her to stay with them, Suze, for a 318 00:19:21,630 --> 00:19:25,449 KT: year while she searched for a job and her own apartment. 319 00:19:25,989 --> 00:19:26,405 Suze: Mistake. 320 00:19:26,405 --> 00:19:29,569 KT: So the stepmom was able to find her a great job. 321 00:19:29,589 --> 00:19:33,209 KT: And since she had no credit history, no credit card, 322 00:19:33,339 --> 00:19:34,469 KT: and no rental history... 323 00:19:34,630 --> 00:19:36,660 Suze: Doin't tell me, don't tell me, don't tell me. 324 00:19:37,180 --> 00:19:38,140 KT: Bingo, bingo. 325 00:19:38,520 --> 00:19:41,699 KT: Husband had to co-sign the lease. 326 00:19:41,800 --> 00:19:44,379 Suze: Well, there we talk about who's financially clueless. All right. 327 00:19:45,670 --> 00:19:50,760 KT: Recently he's been receiving notices that his daughter's payment was late. 328 00:19:51,000 --> 00:19:55,319 Suze: Wait, wait, stop. That's how they knew that she didn't 329 00:19:55,319 --> 00:19:58,478 Suze: know how to do anything because it finally affected them. Ugh. Go on. 330 00:19:59,780 --> 00:20:02,489 KT: Wait a minute. And, on, and on the last time 331 00:20:02,489 --> 00:20:05,438 KT: her check bounced. My husband and I went to her 332 00:20:05,439 --> 00:20:09,369 KT: apartment to discuss this in person. We could not understand 333 00:20:09,369 --> 00:20:13,640 KT: why this was happening, so ready Suze turned out she 334 00:20:13,640 --> 00:20:17,810 KT: wasn't checking her bank account balance. She kept swiping her 335 00:20:17,810 --> 00:20:22,609 KT: ATM card for purchases and paying bills without verifying if 336 00:20:22,609 --> 00:20:25,770 KT: there was enough money in her account to cover them. 337 00:20:26,520 --> 00:20:30,119 KT: Ready? This is the part that's really sad. She blew 338 00:20:30,119 --> 00:20:33,420 KT: through a $100,000 inheritance. 339 00:20:33,949 --> 00:20:38,630 KT: Given her current financial situation, she could greatly benefit from 340 00:20:38,630 --> 00:20:41,189 KT: a structured financial education. 341 00:20:41,540 --> 00:20:44,550 Suze: Oh, you think that's it? You think a structured financial 342 00:20:44,550 --> 00:20:46,659 Suze: education is going to solve this problem? Go on KT. 343 00:20:47,119 --> 00:20:48,339 KT: So then she said, Could you... 344 00:20:48,729 --> 00:20:50,510 Suze: I thought today was supposed to be Thanksgiving and nice 345 00:20:50,510 --> 00:20:51,069 Suze: and easy. 346 00:20:51,189 --> 00:20:55,060 KT: But this, this is an interesting story. Suze. Could you 347 00:20:55,060 --> 00:20:59,469 KT: recommend a spreadsheet and product suitable for someone new to 348 00:20:59,469 --> 00:21:01,109 KT: manage finances? 349 00:21:02,060 --> 00:21:04,399 KT: All right, and it's signed "Bonus mom." 350 00:21:05,060 --> 00:21:07,780 Suze: Here's the "bonus" mom that you're about to get, OK. 351 00:21:08,829 --> 00:21:12,069 Suze: Is that... you're not going to fix this by giving 352 00:21:12,069 --> 00:21:16,790 Suze: somebody a structured spreadsheet. You're going to fix this by 353 00:21:16,790 --> 00:21:21,750 Suze: understanding that you are still contributing to the problem, and 354 00:21:21,750 --> 00:21:26,319 Suze: the problem began when you had to co-sign for her. Listen, 355 00:21:26,469 --> 00:21:29,969 Suze: she is 42 years old. 356 00:21:30,910 --> 00:21:38,879 Suze: 42 years old. Somehow she had a $100,000 inheritance. Why 357 00:21:39,030 --> 00:21:42,589 Suze: did you have to co-sign for her? Did you not 358 00:21:42,589 --> 00:21:46,989 Suze: know that she had already blown that $100,000 inheritance? Cause 359 00:21:46,989 --> 00:21:50,829 Suze: if she had a $100,000 inheritance and she had shown 360 00:21:50,829 --> 00:21:55,389 Suze: that to some landlord and maybe paid the entire rent 361 00:21:55,390 --> 00:21:57,290 Suze: up front for a year. 362 00:21:58,430 --> 00:22:01,859 Suze: Your husband wouldn't have had to co-sign for her. The 363 00:22:01,859 --> 00:22:04,099 Suze: biggest mistake you will ever make in life when it 364 00:22:04,099 --> 00:22:07,979 Suze: comes to your children is when you co-sign for them. 365 00:22:08,260 --> 00:22:11,180 Suze: You think you're helping them. If a bank won't give 366 00:22:11,180 --> 00:22:15,079 Suze: them a loan, you are not going to be the bank, 367 00:22:15,260 --> 00:22:20,160 Suze: do you hear me? Unless you can afford to be 368 00:22:20,339 --> 00:22:21,139 Suze: the bank. 369 00:22:22,469 --> 00:22:26,229 Suze: Don't ever do it. So you, my dear Bonus Mom, 370 00:22:26,510 --> 00:22:29,188 Suze: you have to look at your own actions and what 371 00:22:29,189 --> 00:22:33,439 Suze: did you and your husband do to enable her to 372 00:22:33,439 --> 00:22:37,390 Suze: live in the life of financial la la land, cause 373 00:22:37,390 --> 00:22:43,750 Suze: that's where she is living. No spreadsheet, nothing will ever 374 00:22:43,750 --> 00:22:44,670 Suze: get to her. 375 00:22:45,439 --> 00:22:50,609 Suze: Except her having her checks bounce, her losing her car, 376 00:22:50,800 --> 00:22:55,640 Suze: your husband's credit has already been ruined because she's missed 377 00:22:55,640 --> 00:22:59,280 Suze: payments and now is bouncing checks. You're going to have 378 00:22:59,280 --> 00:23:02,958 Suze: to have her live in reality, even if that means 379 00:23:02,959 --> 00:23:05,400 Suze: she has to move in with a friend, with somebody. 380 00:23:05,479 --> 00:23:09,680 Suze: I don't care what it means, but you cannot save her. 381 00:23:10,770 --> 00:23:13,160 Suze: KT, what is my favorite saying about helping? 382 00:23:13,859 --> 00:23:17,420 KT: When is helping hurting and when is hurting 383 00:23:17,420 --> 00:23:18,260 Suze: helping? 384 00:23:19,489 --> 00:23:22,680 Suze: You have to be a warrior here and not turn 385 00:23:22,680 --> 00:23:26,890 Suze: your back on this battlefield, and this battlefield is all 386 00:23:26,890 --> 00:23:32,369 Suze: about getting a 42 year old to live in financial reality, 387 00:23:32,449 --> 00:23:34,729 Suze: and you want to know why she doesn't live in 388 00:23:34,729 --> 00:23:39,189 Suze: financial reality, cause Daddy is always going to save her. 389 00:23:39,810 --> 00:23:42,889 Suze: She may think you may always save her. Maybe her 390 00:23:42,890 --> 00:23:46,770 Suze: mom may always save her. Her inheritance saved her. 391 00:23:47,550 --> 00:23:52,688 Suze: Everything has saved her. Now she has to become strong 392 00:23:52,689 --> 00:23:57,300 Suze: enough and save herself. You never go up in a 393 00:23:57,300 --> 00:24:01,149 Suze: situation like this until you have hit rock bottom. 394 00:24:01,520 --> 00:24:03,719 KT: Wow, Suze, that's a little harsh. 395 00:24:04,000 --> 00:24:04,319 Suze: Why? 396 00:24:04,410 --> 00:24:05,489 KT: It's Thanksgiving. 397 00:24:05,640 --> 00:24:09,709 Suze: No, yeah, Bonus Mom should be thankful that this is 398 00:24:09,709 --> 00:24:13,739 Suze: harsh because if she really wants to help her stepdaughter, 399 00:24:14,199 --> 00:24:19,129 Suze: let her stepdaughter hear what I just said and let 400 00:24:19,130 --> 00:24:21,228 Suze: me be the one who is harsh. 401 00:24:22,000 --> 00:24:26,469 Suze: And stepdaughter, if you are ever going to listen to this, 402 00:24:26,880 --> 00:24:30,380 Suze: nobody knows more about money in my opinion than me. 403 00:24:31,540 --> 00:24:32,619 Suze: To help you... 404 00:24:33,619 --> 00:24:36,859 Suze: sometimes you need to get a little dose of reality. 405 00:24:37,390 --> 00:24:40,438 Suze: And that was your dose. All right, KT, next. 406 00:24:41,319 --> 00:24:43,780 KT: It is Thanksgiving, and I've got to give a little bit of love here. 407 00:24:43,790 --> 00:24:46,910 Suze: But listen, it's only Thanksgiving today. Most of the people 408 00:24:46,910 --> 00:24:50,069 Suze: listen to this podcast a few days from now. They'll 409 00:24:50,069 --> 00:24:51,329 Suze: already forget it and they'll already... 410 00:24:51,329 --> 00:24:56,400 KT: On that last one, let the daughter listen. That is 411 00:24:56,400 --> 00:24:59,319 KT: gonna be the best thankful. Yeah, it's like that's gonna 412 00:24:59,319 --> 00:25:00,199 KT: be the best thanks you can give. 413 00:25:00,239 --> 00:25:04,280 Suze: You have to stop trying to help her through typical means, 414 00:25:04,319 --> 00:25:05,219 Suze: a spreadsheet? 415 00:25:05,670 --> 00:25:08,260 Suze: A spreadsheet. What's that gonna do to her? Nothing. She's 416 00:25:08,260 --> 00:25:10,349 Suze: gonna forget to enter all the numbers. All right, go on. 417 00:25:10,589 --> 00:25:13,530 KT: All right, so this one, I think, is a very, 418 00:25:13,630 --> 00:25:19,300 KT: very sweet and very heartwarming question. Ready? What... this is 419 00:25:19,300 --> 00:25:22,430 KT: from Kim. She said, What is the financial benefits of 420 00:25:22,430 --> 00:25:26,510 KT: being married? Love the question. Wait, I'm soon to be 421 00:25:26,510 --> 00:25:32,069 KT: 68 and my 72-year-old sweetheart and I want to get married. 422 00:25:32,670 --> 00:25:35,550 KT: I love this, Suze, she said, I have a house 423 00:25:35,550 --> 00:25:38,948 KT: worth half a million dollars where we currently live, a 424 00:25:38,949 --> 00:25:43,670 KT: Roth and an IRA with a total of about $1.3 million. 425 00:25:43,989 --> 00:25:47,989 KT: He also has a house and investments worth closer to 426 00:25:47,989 --> 00:25:48,949 KT: $2 million. 427 00:25:49,459 --> 00:25:54,089 KT: We don't have any joint accounts regarding our finances, and Suze, 428 00:25:54,180 --> 00:25:57,709 KT: do we need a prenup? She said, I can't imagine 429 00:25:57,709 --> 00:26:01,459 KT: us splitting up just like you and KT, but who 430 00:26:01,459 --> 00:26:02,900 KT: knows what can happen. 431 00:26:03,609 --> 00:26:05,369 KT: So there you go. So how are we going to 432 00:26:05,369 --> 00:26:06,329 KT: answer Kim? 433 00:26:06,449 --> 00:26:10,069 Suze: I first want to take on marriage, KT, because especially 434 00:26:10,369 --> 00:26:13,369 Suze: for the gay and lesbian couples that are out there 435 00:26:13,369 --> 00:26:16,849 Suze: that currently still have the right to be married, it 436 00:26:16,849 --> 00:26:20,910 Suze: is so, so important. And it's not just a right 437 00:26:21,170 --> 00:26:25,170 Suze: for gay and lesbian couples, it's a right for every 438 00:26:25,170 --> 00:26:28,569 Suze: single person out there. And let me just go through 439 00:26:28,569 --> 00:26:32,510 Suze: a list of all the advantages of getting married. 440 00:26:33,180 --> 00:26:39,439 Suze: Number one, marriage at any age, seriously, especially at your age, Kim, 441 00:26:39,979 --> 00:26:44,130 Suze: can bring some major financial benefits like 442 00:26:44,670 --> 00:26:51,119 Suze: spousal Social Security, estate tax advantages, simplified inheritance, all of 443 00:26:51,119 --> 00:26:56,938 Suze: those things matter. So for instance, maybe your spousal benefits, 444 00:26:57,239 --> 00:27:00,800 Suze: you would be eligible up to 50% of your spouse's 445 00:27:00,800 --> 00:27:04,000 Suze: Social Security benefit if it's higher than yours. 446 00:27:04,869 --> 00:27:10,670 Suze: That's a big deal. Also, besides spousal benefits, how about 447 00:27:10,670 --> 00:27:15,969 Suze: survivor benefits? So if one of you passes away, the 448 00:27:15,969 --> 00:27:18,910 Suze: surviving spouse, do you get this? They can receive the 449 00:27:18,910 --> 00:27:23,310 Suze: higher of the two Social Security checks, and that can 450 00:27:23,310 --> 00:27:27,099 Suze: be significant. Now, KT, for you and me, our Social 451 00:27:27,099 --> 00:27:30,629 Suze: Securities are the same, so it wouldn't matter. 452 00:27:31,119 --> 00:27:36,000 Suze: But in many cases, maybe your Social Security is $1,800 453 00:27:36,000 --> 00:27:39,489 Suze: a month. Mine's $4,000. If I die, wouldn't you rather 454 00:27:39,489 --> 00:27:42,649 Suze: get my $4,000 than your $1,800? Well, that would only 455 00:27:42,650 --> 00:27:48,250 Suze: happen if we were married, and thank God we are. Inheritance. 456 00:27:50,319 --> 00:27:54,319 Suze: She has so much in her name, so much in his, 457 00:27:54,520 --> 00:27:57,560 Suze: who knows, it's just so much easier when you have 458 00:27:57,560 --> 00:28:02,079 Suze: it together, and it's not just inheritance of property. All right, 459 00:28:02,160 --> 00:28:06,760 Suze: there's a $15 million estate tax, but inheritance of a 460 00:28:06,760 --> 00:28:08,479 Suze: retirement account. 461 00:28:09,329 --> 00:28:14,310 Suze: As a spouse you can take over my retirement account, 462 00:28:14,319 --> 00:28:17,670 Suze: KT as if it was yours. I can take over 463 00:28:17,969 --> 00:28:21,689 Suze: your retirement account as if it were mine. If we 464 00:28:21,689 --> 00:28:25,869 Suze: were not married, I'd have to wipe that account clean 465 00:28:25,869 --> 00:28:29,569 Suze: in 10 years. Can you imagine what that would do 466 00:28:29,569 --> 00:28:31,429 Suze: to your tax bracket, KT? 467 00:28:31,930 --> 00:28:35,709 Suze: So those are just some of them. There's health care 468 00:28:35,709 --> 00:28:38,729 Suze: and legal rights. KT, do you remember when I got 469 00:28:38,729 --> 00:28:42,569 Suze: seriously sick? They wouldn't let her into the operating room. 470 00:28:42,670 --> 00:28:44,670 Suze: She had to say she was my sister. 471 00:28:45,459 --> 00:28:49,979 Suze: And this was before we were legally married, and now 472 00:28:49,979 --> 00:28:52,239 Suze: she carries her legal marriage... 473 00:28:52,239 --> 00:28:53,560 KT: Marriage certificate... 474 00:28:53,650 --> 00:28:57,750 Suze: ...with her everywhere she goes. Those are just a few 475 00:28:57,750 --> 00:29:04,640 Suze: of the benefits of being married. Plus forget the financial benefits. 476 00:29:05,760 --> 00:29:11,650 Suze: The emotional benefits of knowing that you are married. Legally, 477 00:29:11,900 --> 00:29:13,699 Suze: you are now one. 478 00:29:15,479 --> 00:29:18,189 Suze: It is very, very different than when you live with 479 00:29:18,189 --> 00:29:22,380 Suze: each other and you have everything separate. It's, there's, uh, 480 00:29:22,520 --> 00:29:24,020 Suze: how would you describe it, KT? 481 00:29:24,640 --> 00:29:28,319 KT: It's an incredible sense for us or for me of 482 00:29:28,319 --> 00:29:33,219 KT: not only security but trust and you, you just feel. 483 00:29:33,949 --> 00:29:36,449 KT: You feel great. You feel really... 484 00:29:36,459 --> 00:29:36,869 Suze: It's very 485 00:29:36,869 --> 00:29:40,270 Suze: different when you say to somebody, this is my wife 486 00:29:40,270 --> 00:29:44,310 Suze: or my spouse or my husband, then this is my 487 00:29:44,310 --> 00:29:49,910 Suze: boyfriend or girlfriend. This is my partner. It's people always say, well, 488 00:29:49,989 --> 00:29:52,349 Suze: why didn't they get married? Why aren't you married? 489 00:29:52,900 --> 00:29:55,140 Suze: So the question is, why aren't you really married, but 490 00:29:55,140 --> 00:29:58,420 Suze: that's besides the point. All right, prenup, and I'm just 491 00:29:58,420 --> 00:29:58,819 Suze: going to say... 492 00:29:58,819 --> 00:30:00,329 KT: I love being married. Do you? 493 00:30:00,329 --> 00:30:02,459 Suze: To you? Yes. 494 00:30:02,939 --> 00:30:03,095 KT: Yea, I love being married to you. 495 00:30:03,095 --> 00:30:07,130 Suze: Would I have loved being married to any other girlfriend 496 00:30:07,130 --> 00:30:10,150 Suze: that I had? Bottom line, it would have been the 497 00:30:10,150 --> 00:30:14,719 Suze: absolute biggest mistake if I had married any of them, 498 00:30:15,140 --> 00:30:18,560 Suze: which is why I never did. But that's besides the point. 499 00:30:18,930 --> 00:30:22,596 Suze: So if you know he's right for you, marry. 500 00:30:22,596 --> 00:30:23,849 KT: She said, sweetheart. 501 00:30:23,969 --> 00:30:27,510 Suze: But she can't imagine then why she would need a prenup. 502 00:30:27,890 --> 00:30:32,209 Suze: And the reason you will need a prenup is number one, 503 00:30:32,569 --> 00:30:36,400 Suze: once you get married, M just doesn't stand for marriage, 504 00:30:36,469 --> 00:30:40,290 Suze: it stands for money. And depending on what state you 505 00:30:40,290 --> 00:30:43,430 Suze: happen to live in and what you decide to do 506 00:30:43,770 --> 00:30:45,550 Suze: years from now with your money. 507 00:30:46,079 --> 00:30:49,488 Suze: From that point on, half could be his or yours, 508 00:30:49,959 --> 00:30:53,719 Suze: so you have to settle that right now. Do it 509 00:30:53,719 --> 00:30:56,160 Suze: when you're in a state of love and when you 510 00:30:56,160 --> 00:30:59,560 Suze: say you can't imagine anything going wrong. 511 00:31:00,319 --> 00:31:06,050 Suze: Trust me, in life, whether it's 14 years, 30 years, 512 00:31:06,270 --> 00:31:08,959 Suze: 35 years, or even longer. 513 00:31:09,800 --> 00:31:14,829 Suze: I've seen it all. What happens after 30 years of marriage, 514 00:31:15,069 --> 00:31:19,380 Suze: 25 years of marriage. Seriously, you may not quite feel 515 00:31:19,560 --> 00:31:24,729 Suze: the same, believe it or not. It just happens. 14 years, 516 00:31:24,920 --> 00:31:29,589 Suze: you're still in your honeymoon. Just wait. 25. Oh, KT 517 00:31:29,589 --> 00:31:31,180 Suze: just reached over to hold my hand. 518 00:31:31,660 --> 00:31:35,579 Suze: Right, but I've gotten too many emails: "after 30 years 519 00:31:35,579 --> 00:31:38,300 Suze: of marriage, Susie, he now is living in the big 520 00:31:38,300 --> 00:31:41,819 Suze: house and I'm living in a studio apartment. I never 521 00:31:41,819 --> 00:31:45,969 Suze: imagined that could happen." You know, if you ask me, 522 00:31:46,180 --> 00:31:47,939 Suze: and since you have asked me, I just want to 523 00:31:47,939 --> 00:31:52,380 Suze: say one other thing. There's a reason why your friends 524 00:31:52,380 --> 00:31:57,939 Suze: who are older are still getting a prenup today. There's 525 00:31:57,939 --> 00:31:58,780 Suze: a reason. 526 00:31:59,160 --> 00:32:01,800 Suze: And you might want to ask them about it. 527 00:32:02,579 --> 00:32:08,569 Suze: And when you have everything like that in order, you're married, 528 00:32:08,829 --> 00:32:12,099 Suze: you have a prenup, you've prepared for the what ifs, 529 00:32:12,619 --> 00:32:18,550 Suze: trust me, you will live a far, far happier life 530 00:32:18,709 --> 00:32:23,890 Suze: and a life that you will give hopefully thanks for 531 00:32:24,189 --> 00:32:27,010 Suze: like today. What are we doing, KT? 532 00:32:27,150 --> 00:32:28,290 KT: Happy Thanksgiving. 533 00:32:28,510 --> 00:32:31,609 Suze: We're all giving thanks for everything today. 534 00:32:32,260 --> 00:32:35,750 Suze: And, and just know how lucky you are that you're 535 00:32:35,750 --> 00:32:40,510 Suze: able to do so. For those of you who don't 536 00:32:40,510 --> 00:32:44,310 Suze: think that you have something to be thankful for, your 537 00:32:44,310 --> 00:32:47,069 Suze: job is to just see you're alive. 538 00:32:48,270 --> 00:32:53,349 Suze: You're walking, you're able to eat. Find something, one little 539 00:32:53,349 --> 00:32:57,979 Suze: thing in your life that you're thankful for, and give 540 00:32:57,979 --> 00:33:02,229 Suze: it all the thanks you possibly can, and KT. 541 00:33:03,099 --> 00:33:08,300 Suze: The thing that I am absolutely most thankful for in 542 00:33:08,300 --> 00:33:12,020 Suze: my life, more than anything, more than my health, anything. 543 00:33:12,630 --> 00:33:13,599 Suze: Is you. 544 00:33:13,920 --> 00:33:14,989 KT: Oh, Suze. Don't make me cry. 545 00:33:15,589 --> 00:33:21,750 Suze: Oh, KT... now she's crying. Oh, here she goes. Oh. 546 00:33:23,329 --> 00:33:24,369 KT: We're so lucky, 547 00:33:24,650 --> 00:33:25,609 Suze: So lucky, aren't we? 548 00:33:25,770 --> 00:33:27,319 KT: We really are so blessed. 549 00:33:28,010 --> 00:33:30,250 KT: People always tell us how blessed we are, and we 550 00:33:30,250 --> 00:33:34,569 KT: tell each other all the time. So happy Thanksgiving and 551 00:33:34,569 --> 00:33:36,729 KT: be blessed, be grateful. 552 00:33:37,760 --> 00:33:40,890 KT: And always remember this, people first... 553 00:33:41,130 --> 00:33:41,689 Suze: Then money... 554 00:33:41,770 --> 00:33:42,670 KT: then money, then things. 555 00:33:43,400 --> 00:33:46,229 Suze: All right, stay safe, everybody. Bye bye.