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Suze: March 9th, 2023. Welcome everybody to the Women and Money

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Suze: podcast as well as everybody smart enough to listen. And

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Suze: that includes you, Miss Travis.

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KT: Tell them why you're laughing.

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Suze: I'm not going to tell them why I'm laughing. Anyway,

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Suze: this is ask Suze and KT edition. So

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Suze: before we start, anything you want to say?

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KT: Good morning, Suze.

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Suze: Good morning. But don't you want to wish our friends

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Suze: Happy Birthday

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KT: Today's March 9th. It's a really lucky day. First of all,

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KT: we have a really special fan in Portland, Oregon and that is Mrs Littlehales.  I love saying Mrs Littlehales. Happy Birthday and to our wonderful island patriarch Chuck Davis.

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Suze: How old is Chuck now?

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KT: 85.

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Suze: 85. He is something.

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KT: And it looks like he's 55. He is so handsome

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KT: and strong and fishes every day. Out fish is everyone.

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Suze: All right. Shall we begin? Wait, I want to say

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Suze: one more thing.

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Suze: Yesterday, I don't know if you caught it, but Mika

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Suze: On Morning Joe, was in Dubai and it was Fabulous, right?

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Suze: She had on stage, Gloria Steinem and Hillary Clinton. And

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Suze: you name it all at once? Oh my God. What

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Suze: an incredible 30 50 summit that she's doing. Just want

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Suze: to say

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Suze: fabulous, Mika. Fabulous. Alright, KT, let's start.

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KT: Alright. So my first question is from Faye.

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KT: She says hello, Suze and KT, you gals make me

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KT: feel unstoppable. I love money.

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Suze: Sometimes she makes me feel stoppable. Anyway, go on.

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KT: She said I'm a recent graduate. I have just started

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KT: my career entry level. She said I want to grow

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KT: wealth and begin investing. But Suze's voice replays in my head.

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KT: Don't invest if you need the money a year from now.

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KT: Which is understandable, but I don't want to wait till

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KT: I'm stocked with cash to begin investing. So she's stocked

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KT: with cash at entry level. That's pretty good, Suze.

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Suze: How old is this person?

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KT: Well, she said with school loans and bills that might

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KT: not happen till I'm 30. Now, She's 23.

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Suze: All right. So

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Suze: what is her name? Faye, yes? Faye, listen to me. It pays, Faye,

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Suze: to save money. You say that you have student loans,

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Suze: you say you know that you have other things that

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Suze: are their bills and all don't be in a rush.

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Suze: I have a saying, don't rush to be poor because

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Suze: when you owe student loans, student loans are still not

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Suze: dischargeable in bankruptcy.

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Suze: So just go slowly. Now, the good news is because

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Suze: you are so young, you don't need a whole lot

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Suze: of money to start. Why not just start if you

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Suze: have earned income, a Roth IRA put in even if

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Suze: it's just 100 or $200 a month fine, just do

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Suze: it that way. Just make sure that it's diversified. Don't

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Suze: rush though. Just keep money liquid that you know you're

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Suze: going to need

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Suze: and sometimes getting out of debt is even more important

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Suze: than investing. Alright.

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KT: So Faye, this is from Claudia who's 72. So I just

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KT: want you to know everyone has questions their whole life long.

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KT: And this one is, hey, Suze, I'm converting some funds

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KT: from a traditional IRA to a Roth. I have both

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KT: cash and stocks in the traditional. Which is best to convert?

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KT: So want me to make this a quizzie? A pop quizzie?

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Suze: No.

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Suze: I don't, right. But anyway, here's the point, Claudia. Cash is

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Suze: cash and when you convert cash, you always know the

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Suze: amount of taxes you are going to owe on the

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Suze: cash because cash is stable.

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Suze: So it's not like it goes up and down in

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Suze: value when it comes to stocks. Stocks absolutely go up

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Suze: and down. And there's nothing worse really than when you

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Suze: convert a stock. Let's just say you convert X Y

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Suze: Z stock at $100 a share and you have to

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Suze: pay taxes on that $100. And now all of a

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Suze: sudden X Y Z stock is down at $50 a

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Suze: share after you converted it.

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Suze: Not only is it down in value, but you pay

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Suze: taxes on it when it was at 100. So, if

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Suze: I were you, I would little by little as these

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Suze: markets are going down, especially on days, like two days ago,

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Suze: when the markets were down big and maybe your stocks

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Suze: were down big, convert stocks as the stock market is

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Suze: going down, convert cash as the stock market is going up.

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Suze: What is that look for?

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KT: Because that's... I would have gotten that quizzie wrong.

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Suze: Oh, really? All right.

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KT: Next question is from Ed. After maximizing purchase of I

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KT: bonds in our trust account, I opened a separate account

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KT: in my own name to purchase additional I bonds, Suze

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KT: in the event of my death, will that additional personal

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KT: account require my estate to go through probate? There you go.

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Suze: No. What's interesting, Ed is that for whatever reason, Treasury

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Suze: Direct does not allow a trust to be a beneficiary

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Suze: or a joint owner with you, you can do it

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Suze: in a trust, KT and I both have them in

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Suze: our trust names. But here's the thing. Just go back

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Suze: and add either a primary beneficiary or a joint owner

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Suze: to it.

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Suze: And then if anything were to happen to you, you

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Suze: don't have to go through probate. But if you only

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Suze: own an I bond

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Suze: in your individual name and you have not designated a

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Suze: primary beneficiary or a co owner, then, yes, it will

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Suze: go through probate and you don't want that to happen.

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Suze: Since inflation seems not to be quite taming so much.

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Suze: We'll do an update very shortly on whether I think

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Suze: we should continue investing in I bonds or not. Alright.

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KT: Go on next question, Suze is from Alex. Hi, Suze and KT. I've been a fan since reading

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KT: the money book for the Young Fabulous and Broke and

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KT: watching the Suze Orman Show and Alex has been binging

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KT: on past episodes on freevee. You have to tell everyone

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KT: to watch the Suze Orman Show on freevee. It's there.

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Suze: You just told them.

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KT: So here's the question. Should I pay off my mortgage

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KT: or purchase a C D? My mortgage principal is about

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KT: $84,000 at 4.75% interest. I've owned my town home almost

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KT: 13 years, but I plan to sell

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KT: and purchase a single family home in two years. I'm

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KT: 39 single with no children. I have a one year

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KT: emergency fund in a money market account at 3.50%.

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KT: I fund my Roth IRA to the max each year

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KT: and I have no debt.

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Suze: Alright. So, Alex, this is a hard one for me

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Suze: to answer because I don't really have enough facts when

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Suze: you ask a question like this, I need to know

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Suze: what are your original mortgage payments and things like that. However, overall,

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Suze: because your mortgage interest is at 4.75% and you're going

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Suze: to be selling in probably two years or so.

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Suze: I would be investing right now in either C D

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Suze: s or Treasury bills because very shortly here you could

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Suze: be even making more than 4.75% you could be making 5%

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Suze: right now. So if I were you, I would be

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Suze: doing that. Alright, go on.

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KT: Suze, next question is from Paolo. I'm 27 years old.

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KT: We live in a 31 year old home which has

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KT: less than a year left on the mortgage.

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KT: It was built in 1992. My father had $30,000 in

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KT: credit card debt and my mom had to work two

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KT: jobs from 1996 till 2008 to help pay off the debt.

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KT: A friendly co worker helped pay off the rest of

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KT: the debt so she wouldn't have to work the two jobs.

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KT: The house should be paid off this year.

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Suze: But my dad claims she has to go out and

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Suze: get a second job again. She's 58 years old. I

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Suze: take care of the home as well as the maintenance

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Suze: yard work, Blah, Blah, Blah. And then she said we

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Suze: have a combined income of probably 80,000 or more. I

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Suze: don't want my mom to get a second job again.

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Suze: I don't know where all the money is going.

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KT: And then she said we have not bought new furniture vacation. Nothing.

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KT: They haven't done anything and she said I need financial

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KT: assistance on this situation.

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Suze: So Paulo, let's talk here. You say you don't know where all

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Suze: the money is going,

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Suze: but I think you do.

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Suze: With the utmost of respect. You say that your father

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Suze: had $30,000 in credit card debt. You did not say

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Suze: that your mother had it. What you said is that

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Suze: your mother had to work two jobs for approximately 10

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Suze: years to pay off that debt. And now it's your

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Suze: father who wants your mother to go out and get

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Suze: another job as well.

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Suze: Now here's the thing. Why do I think that it's

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Suze: your father who is the spender here? Why do I

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Suze: think that it's your father that is irresponsible with money here.

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Suze: Where does the money go in a situation like this?

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Suze: And I'm not saying that this is true for you

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Suze: but sometimes it is a gambling problem.

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Suze: Sometimes it is places that money is spent where you

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Suze: don't even know. But I think at the age of

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Suze: 27 since you are helping to take care of the

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Suze: house and everything else and that nobody is splurging or

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Suze: anything that you sit down as an adult with your

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Suze: mother and father and you say to both of them. Alright,

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Suze: I want you to take out all the bills.

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Suze: I want to see where all the money is going

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Suze: because I don't like that mom has to work two jobs.

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Suze: I don't want her to, I'm able to work and

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Suze: you can always work, Paulo and also contribute. But all

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Suze: the money in the world won't solve a problem

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Suze: unless you know where that money is going. So when

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Suze: there is debt

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Suze: and you don't know why there's debt and why there's

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Suze: no money, you can find out. Numbers do not lie.

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Suze: People do, but numbers don't. So I'm asking you to

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Suze: sit down with your family and go through every single bill,

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Suze: every amount of money that comes in credit card statements, everything,

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Suze: check credit reports, fico scores all of it and you

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Suze: will find the answer and you'll be able to solve

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Suze: this problem.

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KT: Next question is from Patricia.

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Suze: You have no comment on that answer?

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KT: Yeah, I think that I would... It's like asking her

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KT: to be an undercover agent for the money. Where is

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KT: it going?

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Suze: I'm asking her to a responsible adult. When a child

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Suze: is worried about their parents or parent.

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Suze: All of you parents out there need to understand that

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Suze: your actions with money seriously emotionally affect your children. They

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Suze: can sense it. They don't understand it. It can always

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Suze: add to ruining their financial habits as well. So don't

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Suze: think your actions don't have ramifications on your kids because

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Suze: they absolutely do. Next question, KT.

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KT: Okay. Patricia. Suze, I'm 48 years old and married. No mortgage.

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KT: About $3,000 in credit card debt, $20,000 auto loan.

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KT: I have no retirement account, no savings account, no life

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KT: insurance and no 401(k). My daughter is 24 is in college,

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KT: no college loans to pay. My husband is 46 no

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KT: retirement plan and no savings. No investment. No 401(k).

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KT: Then, then here's what Patricia is asking you, Suze. I'll

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KT: be receiving $40,000 as a settlement for an injury. I

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KT: would like to use these funds to set up a

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KT: retirement plan,

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KT: earn money with savings and investment accounts and set up

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KT: a life insurance policy. So she's asking you to do,

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KT: she wants to do three things, right, Suze? And Suze,

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KT: this is what I feel I need to be financially

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KT: safe and protected

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KT: for life's unfortunate events. What would you do?

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Suze: Patricia? Here you go. Somehow you got $40,000. But because

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Suze: you don't have any other money, none at all. You

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Suze: can't really invest this money

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Suze: because investments go up and investments go down and I

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Suze: know that you would like this money to grow, but

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Suze: I would like you to grow it conservatively and in

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Suze: a guaranteed way. Therefore,

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Suze: if I were you, I would leave at least $5000

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Suze: in an account. What you should really do is set

230
00:15:07,850 --> 00:15:12,450
Suze: up the Alliant Ultimate Opportunity Savings Account where you simply

231
00:15:12,450 --> 00:15:16,830
Suze: put in $100 a month every month for 12 consecutive 

232
00:15:17,110 --> 00:15:21,580
Suze: months and they'll give you $100 after that. They're also

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00:15:21,580 --> 00:15:26,800
Suze: currently paying a 3.10% interest rate. You should do one,

234
00:15:26,810 --> 00:15:30,210
Suze: your daughter should do one. Your husband should do one

235
00:15:30,220 --> 00:15:34,730
Suze: because that's a fabulous return on your money. So, if

236
00:15:34,740 --> 00:15:38,739
Suze: I were you, I would start there and that would

237
00:15:38,740 --> 00:15:41,170
Suze: get you in the habit of saving.

238
00:15:41,650 --> 00:15:43,830
Suze: The main reason I want you to do it. Believe

239
00:15:43,830 --> 00:15:46,370
Suze: it or not, is not just because of the extraordinary

240
00:15:46,370 --> 00:15:49,440
Suze: return you will get on your money, but once you

241
00:15:49,440 --> 00:15:54,180
Suze: get in the habit of actually putting money away every

242
00:15:54,180 --> 00:15:55,400
Suze: single month.

243
00:15:56,270 --> 00:16:00,850
Suze: All of a sudden that habits becomes your destiny because

244
00:16:00,850 --> 00:16:03,970
Suze: you like it. You see the accounts building and the

245
00:16:03,970 --> 00:16:07,970
Suze: three of you need to do that. But besides that,

246
00:16:07,970 --> 00:16:11,670
Suze: if you want to put in an extra few $1000

247
00:16:11,780 --> 00:16:15,030
Suze: in the account just to do what? As an emergency

248
00:16:15,030 --> 00:16:18,460
Suze: fund besides the $100 a month? Alright,

249
00:16:18,950 --> 00:16:22,160
Suze: I'd like to see you put the rest in a

250
00:16:22,160 --> 00:16:27,250
Suze: three month treasury bill or certificate of deposit. You can

251
00:16:27,250 --> 00:16:30,670
Suze: do that at Alliant Credit Union as well, where you

252
00:16:30,670 --> 00:16:36,790
Suze: will earn a 4.85% annual yield. And let's see what

253
00:16:36,790 --> 00:16:40,180
Suze: happens because I think interest rates will probably be going up.

254
00:16:40,190 --> 00:16:42,530
Suze: So you'll probably be able to renew that at a

255
00:16:42,530 --> 00:16:44,650
Suze: higher interest rate.

256
00:16:44,950 --> 00:16:47,990
Suze: That's what I would be doing, and that is all

257
00:16:48,000 --> 00:16:52,250
Suze: that I would be doing. Also, I don't know about

258
00:16:52,250 --> 00:16:57,090
Suze: your relationship with your husband or how that's going. But

259
00:16:57,100 --> 00:17:01,450
Suze: the CD I would personally set up in just your

260
00:17:01,460 --> 00:17:05,960
Suze: individual name so that it's your money and no matter

261
00:17:05,960 --> 00:17:10,560
Suze: what happens, you know, that's yours and nobody can take

262
00:17:10,560 --> 00:17:11,710
Suze: it from you.

263
00:17:11,990 --> 00:17:15,460
Suze: Also, what you might want to do, since you don't

264
00:17:15,460 --> 00:17:19,590
Suze: have any life insurance and there is no money there

265
00:17:19,600 --> 00:17:22,470
Suze: in case one of you were to die. Why not

266
00:17:22,470 --> 00:17:26,780
Suze: take out 100 or $200,000 life insurance policy on each

267
00:17:26,780 --> 00:17:30,830
Suze: one of you? So you have maybe 100 or 200,000

268
00:17:30,830 --> 00:17:34,959
Suze: on you. Your husband has one or $200,000 on him.

269
00:17:35,380 --> 00:17:39,840
Suze: And it's a term policy and just do a 20

270
00:17:39,840 --> 00:17:43,939
Suze: year level term policy for that kind of death benefit

271
00:17:43,940 --> 00:17:46,820
Suze: that would help get you by. What would happen is

272
00:17:46,820 --> 00:17:50,180
Suze: it might cost you just a few dollars, 10 $20

273
00:17:50,190 --> 00:17:54,470
Suze: really a month to have that. So to quote it,

274
00:17:54,470 --> 00:17:57,420
Suze: to get a good quote on that, go to select

275
00:17:57,430 --> 00:17:59,139
Suze: quote dot com

276
00:17:59,340 --> 00:18:03,150
Suze: and put in your facts and figures and see how

277
00:18:03,150 --> 00:18:06,440
Suze: much a 20 year level term policy would cost you.

278
00:18:06,450 --> 00:18:07,609
Suze: All right. Go on KT.

279
00:18:07,619 --> 00:18:11,889
KT: Okay. Next question's from Danielle. I know that right now.

280
00:18:11,890 --> 00:18:15,510
KT: We don't like I bonds as much as the Alliant CDs,

281
00:18:15,510 --> 00:18:19,020
KT: b ut I still have a remaining question about the

282
00:18:19,020 --> 00:18:21,840
KT: I bonds I purchased last year.

283
00:18:22,100 --> 00:18:25,060
KT: I am the primary owner and my husband is the

284
00:18:25,060 --> 00:18:29,109
KT: secondary owner on the I bonds. What happens when both

285
00:18:29,109 --> 00:18:33,590
KT: my husband and I die or become incapacitated. At the

286
00:18:33,590 --> 00:18:37,990
KT: same time, we do have a joint trust and all

287
00:18:37,990 --> 00:18:42,330
KT: other must have documents from Suze. My understanding is that

288
00:18:42,330 --> 00:18:47,150
KT: Treasury Direct doesn't allow a trust being the beneficiary. So Suze, what should she do?

289
00:18:49,160 --> 00:18:52,360
Suze: It doesn't allow a trust to be a beneficiary, but

290
00:18:52,359 --> 00:18:55,550
Suze: it most certainly allows the trust to be an owner.

291
00:18:55,560 --> 00:19:00,020
Suze: Before I had created a trust years and years ago,

292
00:19:00,020 --> 00:19:02,560
Suze: believe it or not. And I was buying I bonds.

293
00:19:02,570 --> 00:19:07,419
Suze: I bought them in my individual name. A while ago,

294
00:19:07,430 --> 00:19:12,359
Suze: quite a while ago, I transferred them to my trust account.

295
00:19:12,740 --> 00:19:16,360
Suze: So you can buy, I bonds in a trust account.

296
00:19:16,369 --> 00:19:20,889
Suze: You can also transfer your I bonds from individual name

297
00:19:20,930 --> 00:19:25,350
Suze: to a trust account. Also, I just want to say something,

298
00:19:25,350 --> 00:19:28,780
Suze: which is, it's not that I don't like I bonds

299
00:19:28,790 --> 00:19:33,250
Suze: as much as the Alliant CDs. I just wanted to

300
00:19:33,250 --> 00:19:38,160
Suze: hold off on buying I bonds right now with new

301
00:19:38,170 --> 00:19:39,050
Suze: money

302
00:19:39,260 --> 00:19:43,210
Suze: until I really had a grip on what was going

303
00:19:43,210 --> 00:19:46,700
Suze: to happen with inflation. And I have to tell you

304
00:19:46,700 --> 00:19:50,030
Suze: given the reports lately that are coming in and I'll

305
00:19:50,030 --> 00:19:53,020
Suze: know next week cause that's when the new inflation report

306
00:19:53,020 --> 00:19:56,919
Suze: comes in. I may say to all of you. All right,

307
00:19:56,960 --> 00:20:01,130
Suze: you know, before April is up, go ahead and invest

308
00:20:01,140 --> 00:20:04,010
Suze: money in I bonds again.

309
00:20:04,410 --> 00:20:08,200
Suze: So it's just something to think about and to know.

310
00:20:08,210 --> 00:20:10,480
Suze: So we'll see what happens there. The thing that I

311
00:20:10,480 --> 00:20:14,770
Suze: don't love about I bonds is you have that three

312
00:20:14,780 --> 00:20:18,790
Suze: month penalty if you want to come out and you

313
00:20:18,790 --> 00:20:21,960
Suze: cannot touch it for the first year.

314
00:20:22,510 --> 00:20:25,820
Suze: And you have that penalty all the way through years,

315
00:20:25,820 --> 00:20:29,210
Suze: two through five. I just want to know what we're

316
00:20:29,210 --> 00:20:32,480
Suze: getting into and what the rates are going to be

317
00:20:32,480 --> 00:20:34,760
Suze: and then we'll see, but it seems like I'm trending

318
00:20:34,760 --> 00:20:35,590
Suze: more to...

319
00:20:35,830 --> 00:20:41,320
Suze: yep. I think we're going to be doing I bonds again. Okay. Next, KT.

320
00:20:41,330 --> 00:20:45,280
KT: So Suze, next question from Tina, who do I name

321
00:20:45,290 --> 00:20:50,070
KT: as the executor trustee of my will and trust when

322
00:20:50,070 --> 00:20:53,280
KT: I have no family or friends capable of doing?

323
00:20:53,280 --> 00:20:56,050
Suze: So, Tina, this is a sad question but you are

324
00:20:56,050 --> 00:21:01,140
Suze: not alone. There are many people in a situation like that.

325
00:21:01,440 --> 00:21:05,000
Suze: And so a lot of times people go to a

326
00:21:05,000 --> 00:21:08,320
Suze: bank and they have the bank be the trustee or

327
00:21:08,320 --> 00:21:10,690
Suze: they go to a lawyer and have the lawyer be

328
00:21:10,690 --> 00:21:14,960
Suze: the successor trustee, actually after you. But I really like

329
00:21:14,960 --> 00:21:18,119
Suze: the fact that you have a grandson that's 23 years

330
00:21:18,119 --> 00:21:21,139
Suze: of age. KT just handed me your email and it

331
00:21:21,140 --> 00:21:22,310
Suze: says that in it

332
00:21:22,700 --> 00:21:27,469
Suze: And as soon as he is ready to manage it,

333
00:21:27,600 --> 00:21:31,730
Suze: that is who I would switch to because nobody's going

334
00:21:31,730 --> 00:21:35,190
Suze: to care about you more than somebody who loves you.

335
00:21:35,250 --> 00:21:38,560
Suze: But there are professional trustees that you have to pay

336
00:21:38,560 --> 00:21:43,780
Suze: to do so. So that may be your only alternative. Alright, KT.

337
00:21:43,790 --> 00:21:47,840
KT: Okay, Suze. Next question's from Tammy. She said a big

338
00:21:47,840 --> 00:21:50,470
KT: thanks to you for all you do.

339
00:21:50,619 --> 00:21:53,670
KT: And here's her question. Is there such a thing as

340
00:21:53,670 --> 00:21:57,950
KT: a CD that you can roll a Roth account in?

341
00:21:58,300 --> 00:22:01,560
KT: My guess is no, but I'm a nurse. Not a

342
00:22:01,560 --> 00:22:03,639
KT: financial whiz like you.

343
00:22:05,080 --> 00:22:09,230
Suze: So, Tammy, absolutely your guesses wrong. So if this was your quizzie.

344
00:22:09,460 --> 00:22:14,020
Suze: I would be going wrong. You absolutely can set up

345
00:22:14,030 --> 00:22:19,629
Suze: a Roth IRA and buy certificates of deposits within a Roth.

346
00:22:19,640 --> 00:22:20,369
Suze: All right.

347
00:22:20,380 --> 00:22:24,420
KT: Okay. Next question. And I love these short questions. By

348
00:22:24,420 --> 00:22:26,530
KT: the way, everyone this is from Dinah.

349
00:22:26,790 --> 00:22:31,960
KT: Does a married couple need to purchase two living trust programs?

350
00:22:31,970 --> 00:22:36,440
Suze: No, married couple does not need to purchase two living

351
00:22:36,440 --> 00:22:40,870
Suze: trust programs. If it's a good program, the two of

352
00:22:40,869 --> 00:22:44,470
Suze: you should be able to do it all at once.

353
00:22:44,480 --> 00:22:45,170
Suze: All right.

354
00:22:45,180 --> 00:22:48,689
KT: Hello, Suze and KT. I'm a longtime follower of the

355
00:22:48,690 --> 00:22:52,850
KT: podcast and learned a ton from you. Thanks for educating

356
00:22:52,850 --> 00:22:56,270
KT: us about money. My question is about a car lease.

357
00:22:56,690 --> 00:23:00,810
KT: Your favorite Suze. I'm currently leasing a vehicle and my

358
00:23:00,810 --> 00:23:04,129
KT: lease is about to expire. What would be your recommendation

359
00:23:04,130 --> 00:23:07,720
KT: as to what to do next? One, return the vehicle

360
00:23:07,730 --> 00:23:11,810
KT: and lease another. Two by the vehicle and sell it myself.

361
00:23:11,820 --> 00:23:13,990
KT: Three something else.

362
00:23:14,000 --> 00:23:20,110
Suze: Pop quizzie. Pop quizzie. KT pop quizzie because you once

363
00:23:20,109 --> 00:23:20,960
Suze: leased a car.

364
00:23:24,080 --> 00:23:27,230
KT: Well, wait a minute... I can't answer this question. Not

365
00:23:27,230 --> 00:23:28,430
KT: enough information.

366
00:23:28,560 --> 00:23:29,159
Suze: What information do you need? 

367
00:23:29,600 --> 00:23:34,110
KT: Well, leases a couple of years like five years or something.

368
00:23:35,540 --> 00:23:39,540
KT: So it's a couple of years. I don't know what

369
00:23:39,550 --> 00:23:42,219
KT: condition the vehicles in, how many miles are on it.

370
00:23:42,220 --> 00:23:46,369
KT: I can't answer this. Is that correct? I can't answer

371
00:23:46,369 --> 00:23:48,409
KT: because I don't have enough information. (Suze makes the wrong answer sound). Alright, what would you do?

372
00:23:50,890 --> 00:23:55,119
Suze: So everybody, how would you have answered that question? Think

373
00:23:55,119 --> 00:23:59,369
Suze: about it before I answer it, you've leased a car,

374
00:23:59,380 --> 00:24:03,439
Suze: the lease is up usually in three years, the car

375
00:24:03,450 --> 00:24:09,080
Suze: is probably in good condition because it's only three years old, blah, blah, blah, blah.

376
00:24:09,090 --> 00:24:12,840
Suze: What would you do? Would you return the vehicle? At

377
00:24:12,840 --> 00:24:15,639
Suze: least another one? Yes or no, KT.  Would you return it?

378
00:24:17,020 --> 00:24:17,980
KT: No, I wouldn't lease another one.

379
00:24:23,160 --> 00:24:27,750
Suze: And the reason is everybody, is leasing a car in

380
00:24:27,750 --> 00:24:31,639
Suze: most cases, is such a waste of money, it's not

381
00:24:31,650 --> 00:24:35,720
Suze: even funny. You lease it. Once you lease it again,

382
00:24:35,730 --> 00:24:39,560
Suze: you lease it again. It just doesn't make any sense.

383
00:24:39,570 --> 00:24:42,669
Suze: You buy a car. If you can't afford a

384
00:24:42,810 --> 00:24:46,560
Suze: new car, that's fine by a car that's used but

385
00:24:46,560 --> 00:24:49,149
Suze: new for you. How do you know how much of

386
00:24:49,150 --> 00:24:52,080
Suze: a car you can afford? Hopefully, if you have to

387
00:24:52,080 --> 00:24:56,710
Suze: finance it, you never finance for more than three years.

388
00:24:56,730 --> 00:25:00,030
Suze: If you have to push out your financing to five years,

389
00:25:00,030 --> 00:25:03,700
Suze: seven years or 10 years, you are buying too expensive

390
00:25:03,710 --> 00:25:06,699
Suze: of a car. So no, you will not return the

391
00:25:06,700 --> 00:25:08,600
Suze: vehicle and lease another one.

392
00:25:08,790 --> 00:25:13,580
Suze: Buy the vehicle and sell it myself. The truth is

393
00:25:13,590 --> 00:25:18,910
Suze: what you should be doing there is talking to your

394
00:25:18,910 --> 00:25:23,960
Suze: lease company and if in fact you like the car,

395
00:25:24,760 --> 00:25:27,540
Suze: there is an amount of money that you could buy

396
00:25:27,540 --> 00:25:31,159
Suze: it for. But if you buy it, you will then

397
00:25:31,160 --> 00:25:34,290
Suze: keep it, you will not turn around and sell it.

398
00:25:35,060 --> 00:25:37,480
Suze: If you are going to turn around and sell it,

399
00:25:37,480 --> 00:25:40,980
Suze: I doubt highly you would make any money on that.

400
00:25:41,200 --> 00:25:46,180
Suze: However many people, actually at the end of their lease,

401
00:25:46,190 --> 00:25:47,780
Suze: buy the car

402
00:25:48,530 --> 00:25:51,240
Suze: at whatever price it is. If it's a good price,

403
00:25:51,250 --> 00:25:53,850
Suze: if you like the car, if it's been good to

404
00:25:53,850 --> 00:25:56,440
Suze: you and then they just keep it and they can

405
00:25:56,440 --> 00:26:00,090
Suze: finance it when they buy it. If you're not going

406
00:26:00,090 --> 00:26:04,220
Suze: to do that, then the something else would be return

407
00:26:04,300 --> 00:26:09,060
Suze: the car and find a new car for you that's

408
00:26:09,060 --> 00:26:12,210
Suze: probably used that you like

409
00:26:12,710 --> 00:26:17,040
Suze: And you finance that and then after you have paid

410
00:26:17,040 --> 00:26:21,060
Suze: it off, you keep it for a long, long time.

411
00:26:21,060 --> 00:26:25,620
Suze: So treat that car with respect, but I would not

412
00:26:25,630 --> 00:26:27,730
Suze: be leasing another one.

413
00:26:28,290 --> 00:26:31,770
Suze: That was your quizzie, KT. So I'm looking at our little

414
00:26:31,770 --> 00:26:36,899
Suze: clock here and we're kind of winding down. Alright, everybody

415
00:26:36,910 --> 00:26:38,670
Suze: let me just say

416
00:26:38,810 --> 00:26:41,910
Suze: that the three month and the six month certificates of

417
00:26:41,910 --> 00:26:47,940
Suze: deposit at Alliant Credit Union have been a tremendous success

418
00:26:47,950 --> 00:26:56,520
Suze: with almost $300 million going into them. So I'm just

419
00:26:56,520 --> 00:26:58,820
Suze: saying that if you have money

420
00:26:58,840 --> 00:27:03,010
Suze: somewhere else and it's not making a high interest rate

421
00:27:03,020 --> 00:27:07,619
Suze: at all and you're interested in certificates of deposits, you

422
00:27:07,619 --> 00:27:11,820
Suze: might want to look into the Alliant Credit Union offer

423
00:27:11,830 --> 00:27:16,260
Suze: and you do so by going to My Alliant A

424
00:27:16,260 --> 00:27:18,870
Suze: L L I A N T dot com

425
00:27:19,140 --> 00:27:24,439
Suze: slash Ultimate. Also, I'm just gonna say for those of

426
00:27:24,440 --> 00:27:27,750
Suze: you who want to get into the savings habit, you

427
00:27:27,750 --> 00:27:32,480
Suze: need to take advantage of the Ultimate Opportunity Savings Account

428
00:27:32,490 --> 00:27:35,340
Suze: where you put in $100 a month, every month for

429
00:27:35,340 --> 00:27:36,730
Suze: 12 consecutive months.

430
00:27:36,869 --> 00:27:40,040
Suze: And at the end of that time, Alliant will give

431
00:27:40,040 --> 00:27:45,900
Suze: you $100 plus you're earning currently 3.10%. And I am

432
00:27:45,900 --> 00:27:50,910
Suze: sure that interest rate over time will go up for that.

433
00:27:50,920 --> 00:27:54,600
Suze: You would go to My Alliant.com.

434
00:27:54,800 --> 00:28:00,310
Suze: All right. That brings us to the end of Ask

435
00:28:00,320 --> 00:28:04,850
Suze: KT and Suze Anything I just want to say on Sunday,

436
00:28:05,119 --> 00:28:09,390
Suze: the Suze School is going to be on the accurate

437
00:28:09,400 --> 00:28:13,600
Suze: way for you to figure out your net worth and

438
00:28:13,600 --> 00:28:17,530
Suze: you're going to be surprised what I have to tell you.

439
00:28:17,619 --> 00:28:21,139
Suze: So you make sure that you tune in for that.

440
00:28:21,400 --> 00:28:22,940
Suze: But until then,

441
00:28:23,450 --> 00:28:26,449
Suze: there's only one thing that both KT and I want

442
00:28:26,450 --> 00:28:30,320
Suze: you to say every single day and we want you

443
00:28:30,320 --> 00:28:32,570
Suze: to say it with us right now,

444
00:28:33,430 --> 00:28:40,190
Suze: every day, wherever I go, I will create a more joyful,

445
00:28:40,200 --> 00:28:46,620
Suze: peaceful and loving world. Now you do that and I

446
00:28:46,620 --> 00:28:49,850
Suze: promise you you will be what KT?

447
00:28:49,860 --> 00:28:50,900
KT: Unstoppable!

448
00:28:51,260 --> 00:28:55,110
Suze: Unstoppable. See you Sunday. Bye bye.