1 00:00:46,720 --> 00:00:48,619 Suze: August 1st. 2 00:00:48,630 --> 00:00:49,549 KT: Hello, Leo's. 3 00:00:51,040 --> 00:00:57,229 Suze: August 1st 2024. I can't even believe it. August, KT. 4 00:00:57,240 --> 00:01:00,680 KT: Don't remind me that summer's almost over. I love summer. 5 00:01:00,689 --> 00:01:01,849 KT: My favorite season. 6 00:01:01,869 --> 00:01:04,629 Suze: Let's just talk. What's your favorite? Let's just talk for 7 00:01:04,639 --> 00:01:10,449 Suze: a second. What day? What season? What, whatever don't you love? 8 00:01:11,589 --> 00:01:12,848 KT: Probably winter 9 00:01:13,790 --> 00:01:15,699 Suze: like we have winter in the Bahamas. 10 00:01:15,790 --> 00:01:20,089 KT: Just winter in general isn't my favorite season. 11 00:01:20,239 --> 00:01:21,300 Suze: But you still love it. 12 00:01:21,750 --> 00:01:24,208 KT: It's, it can be very beautiful when we lived in 13 00:01:24,220 --> 00:01:28,650 KT: New York and we had those first snows is very beautiful, 14 00:01:28,660 --> 00:01:31,190 KT: but winter in general is not my favorite season. 15 00:01:31,199 --> 00:01:35,739 Suze: I'm just wondering, I got it, but welcome everybody to 16 00:01:35,750 --> 00:01:41,809 Suze: the women and Money podcast and everyone smart enough to listen. 17 00:01:42,010 --> 00:01:47,970 Suze: So this podcast is all inclusive. There isn't one person 18 00:01:47,980 --> 00:01:48,800 Suze: out there 19 00:01:49,199 --> 00:01:54,400 Suze: that this doesn't apply to. Ok. Just wanted to say 20 00:01:54,410 --> 00:01:58,699 Suze: that number one, number two, as you can already tell 21 00:01:59,339 --> 00:02:02,930 Suze: Miss KT is in the house and this is the 22 00:02:03,129 --> 00:02:09,949 Suze: Ask KT and Suze, anything, addition, anything, anything, anything, everything, everything, 23 00:02:09,960 --> 00:02:12,490 Suze: whatever you want whenever you want. 24 00:02:12,500 --> 00:02:14,960 KT: I have a big stack of questions in front of me. 25 00:02:14,970 --> 00:02:16,210 KT: So let's get on with it. 26 00:02:16,220 --> 00:02:19,369 Suze: But before we get on with it, if you want, 27 00:02:20,125 --> 00:02:26,365 Suze: you can write in to ask Suze Podcast, Suze at gmail.com. 28 00:02:26,544 --> 00:02:30,163 Suze: Ask your question. You have got to make it short 29 00:02:30,285 --> 00:02:34,695 Suze: if you're wondering why I'm not answering some of your 30 00:02:34,705 --> 00:02:38,353 Suze: emails because KT looks at them, she comes to me 31 00:02:38,365 --> 00:02:41,014 Suze: and she says, what does this mean? And you're telling 32 00:02:41,024 --> 00:02:45,455 Suze: me your entire financial life story. 33 00:02:45,979 --> 00:02:49,380 Suze: First of all, I can't make personal recommendations to any 34 00:02:49,389 --> 00:02:52,410 Suze: of you because I don't know enough about you and 35 00:02:52,419 --> 00:02:55,940 Suze: your situation to be able to do that. So if 36 00:02:55,949 --> 00:02:58,970 Suze: you really want your question to be answered or have 37 00:02:58,979 --> 00:03:02,198 Suze: a good chance of being answered on the podcast or 38 00:03:02,210 --> 00:03:03,839 Suze: from me directly, 39 00:03:04,649 --> 00:03:09,990 Suze: keep it short and just ask one question. That's it. 40 00:03:10,119 --> 00:03:11,869 Suze: And by the way, I just have to say one 41 00:03:11,880 --> 00:03:17,070 Suze: other thing, if I happen to answer your question directly 42 00:03:17,830 --> 00:03:22,570 Suze: and I'm giving you the answer online, I'm writing to you. 43 00:03:22,580 --> 00:03:25,039 Suze: You don't have to write back and say thank you. 44 00:03:25,220 --> 00:03:28,410 Suze: I know that you're appreciative. But when you write back 45 00:03:28,419 --> 00:03:31,940 Suze: and say thank you, then everything starts all over again. 46 00:03:31,949 --> 00:03:34,489 Suze: And then we have hundreds that I have to decipher 47 00:03:34,500 --> 00:03:37,889 Suze: from where I do want the answer from the person 48 00:03:37,899 --> 00:03:38,570 Suze: that I wrote. 49 00:03:38,580 --> 00:03:41,210 KT: I kind of like the idea that you get thousands of. 50 00:03:41,220 --> 00:03:43,399 KT: Thank you. Thank you. Thank you. Thank you. Thank you. 51 00:03:44,600 --> 00:03:46,869 Suze: I'm so glad that you do. Alright. 52 00:03:46,880 --> 00:03:50,639 KT: Are we ready, Suze Orman? But before we begin with 53 00:03:50,649 --> 00:03:52,889 KT: a lot of my questions, I need to go back 54 00:03:52,899 --> 00:03:58,059 KT: to Sunday school where Suze talked about inherited IRAs that 55 00:03:58,070 --> 00:04:02,740 KT: was last Sunday. Ok. So the first question is if 56 00:04:02,750 --> 00:04:04,199 KT: the inherited IRA 57 00:04:04,315 --> 00:04:09,154 KT: is split between two Children is the RMD also split? 58 00:04:09,164 --> 00:04:14,014 KT: For example, if my mother had a $10,000 RMD , 59 00:04:14,235 --> 00:04:17,493 KT: do both my brother and I who inherited the IRA, 60 00:04:17,505 --> 00:04:22,255 KT: each have to take out $10,000 annually or do we 61 00:04:22,265 --> 00:04:24,325 KT: each take out 5000. 62 00:04:24,678 --> 00:04:25,730 KT: It's a good question. 63 00:04:25,738 --> 00:04:27,769 Suze: You know, it's funny you got this one off of 64 00:04:27,779 --> 00:04:31,089 Suze: the um app, the women in my community app, right? 65 00:04:31,579 --> 00:04:34,570 Suze: If you had looked at the view replies, right? You 66 00:04:34,579 --> 00:04:38,529 Suze: would have seen that somebody replied to this person with 67 00:04:38,540 --> 00:04:42,109 Suze: the wrong answer. I know that happens often. That's why 68 00:04:42,119 --> 00:04:44,209 Suze: I just want to say to everybody. 69 00:04:45,149 --> 00:04:48,899 Suze: I love that. All of you love the women and 70 00:04:48,910 --> 00:04:53,230 Suze: Money Community app where you ask questions, other people answer them. 71 00:04:53,238 --> 00:04:55,988 Suze: Sometimes I answer, you can get it by the way 72 00:04:56,000 --> 00:04:59,909 Suze: by going to Google apps or Apple Play and download 73 00:04:59,920 --> 00:05:01,980 Suze: it women and money free. 74 00:05:02,165 --> 00:05:05,863 Suze: He obviously, and you have to be careful though because 75 00:05:05,875 --> 00:05:11,924 Suze: not always when somebody answers your question is the answer correct. 76 00:05:11,934 --> 00:05:15,035 Suze: And in this case, it was not correct. And I 77 00:05:15,045 --> 00:05:20,695 Suze: did answer this person for everybody to read. So here's 78 00:05:20,704 --> 00:05:24,725 Suze: what you need to understand. It does not work that 79 00:05:24,734 --> 00:05:27,154 Suze: way on any level. 80 00:05:27,769 --> 00:05:34,480 Suze: When you inherit an IRA, a traditional IRA from somebody 81 00:05:34,488 --> 00:05:40,320 Suze: who has started RMDs or died at or after the date 82 00:05:40,329 --> 00:05:42,980 Suze: they were supposed to start RMDs, 83 00:05:44,660 --> 00:05:48,969 Suze: you then have to continue to take RMDs. But this 84 00:05:48,980 --> 00:05:53,869 Suze: is what happens when you inherit an IRA, it will 85 00:05:53,880 --> 00:05:59,519 Suze: be divided into your own inherited IRA account for you 86 00:05:59,690 --> 00:06:05,869 Suze: and your brother's own inherited IRA account for him. You 87 00:06:05,880 --> 00:06:10,700 Suze: do not continue taking the amount of money that your 88 00:06:10,709 --> 00:06:13,289 Suze: mother was taking out each year. 89 00:06:13,910 --> 00:06:18,289 Suze: What will happen is now the life expectancy 90 00:06:19,410 --> 00:06:24,070 Suze: will be based on your life expectancy and your brother's 91 00:06:24,079 --> 00:06:25,390 Suze: life expectancy. 92 00:06:25,678 --> 00:06:28,350 KT: Can you give us an example of what that would be? 93 00:06:28,359 --> 00:06:30,750 KT: For instance, like let's say you're a lot older than 94 00:06:30,760 --> 00:06:31,540 KT: your brother. 95 00:06:31,549 --> 00:06:34,230 Suze: All right. So the key here for all of you 96 00:06:34,238 --> 00:06:39,269 Suze: to know is that RMDs when it's an inherited account 97 00:06:39,799 --> 00:06:45,290 Suze: are calculated based on the beneficiary's life expectancy, which is 98 00:06:45,299 --> 00:06:51,859 Suze: determined using the IRS single life expectancy table. So that 99 00:06:51,869 --> 00:06:55,579 Suze: is true no matter what. Ok. Just so you know, 100 00:06:56,579 --> 00:07:01,589 Suze: let's just assume rather than what your mother's RMD was, 101 00:07:01,859 --> 00:07:08,040 Suze: let's assume that you both received $50,000 from an inherited 102 00:07:08,049 --> 00:07:16,760 Suze: IRA mom had $100,000 in her IRA. She dies you 103 00:07:16,769 --> 00:07:20,790 Suze: both inherit it. She had already started to take RMDs . 104 00:07:21,570 --> 00:07:26,109 Suze: So now you each have it in your individual inherited account. 105 00:07:26,790 --> 00:07:29,540 Suze: You let's just say, are 60 years of age. 106 00:07:30,279 --> 00:07:34,059 Suze: And let's say your brother is 50 years of age. 107 00:07:34,510 --> 00:07:38,769 Suze: What you would each do is go to the IRS 108 00:07:38,779 --> 00:07:41,250 Suze: single life expectancy table. 109 00:07:42,109 --> 00:07:45,440 Suze: And what you would find is that your life expectancy 110 00:07:45,450 --> 00:07:52,329 Suze: because you're 60 is 25.2 years And your brother's life 111 00:07:52,339 --> 00:07:57,519 Suze: expectancy is 34.2 years because he's younger. 112 00:07:58,130 --> 00:08:04,160 Suze: So your RMD for that year, when you start taking 113 00:08:04,170 --> 00:08:14,790 Suze: the RMDs would be 50,000 divided by 25.2 or $1984 114 00:08:14,799 --> 00:08:19,190 Suze: that year is what you're required RMD would be. 115 00:08:19,690 --> 00:08:25,459 Suze: The other RMD, your brother's would be 50,000 divided by 116 00:08:25,470 --> 00:08:33,939 Suze: 34.2 which is $1461. So, does that make sense? You 117 00:08:33,950 --> 00:08:38,609 Suze: do not just divide the $10,000 in this example of 118 00:08:38,619 --> 00:08:42,309 Suze: what your mother really was taking between the two of you? 119 00:08:42,530 --> 00:08:45,309 Suze: All right. So that's how it works everybody. 120 00:08:45,320 --> 00:08:47,250 KT: So, Suze, a couple more questions 121 00:08:47,799 --> 00:08:51,700 KT: for an inherited Roth. The optimal strategy is to wait 122 00:08:51,710 --> 00:08:52,909 KT: until year 10 123 00:08:53,159 --> 00:08:56,500 KT: to let the money grow for the full 10 years, 124 00:08:56,510 --> 00:08:57,619 KT: tax free. 125 00:08:57,630 --> 00:08:59,429 Suze: Absolutely correct. 126 00:08:59,719 --> 00:09:03,989 Suze: So all of you need to remember is that Roth 127 00:09:04,000 --> 00:09:11,059 Suze: IRAs never have RMDs, required minimum distributions, which is why 128 00:09:11,070 --> 00:09:14,510 Suze: I love them so much. Everybody. Just so, you know, 129 00:09:14,520 --> 00:09:17,679 Suze: it would make your beneficiary's life far easier if they 130 00:09:17,690 --> 00:09:19,080 Suze: inherited a Roth 131 00:09:19,809 --> 00:09:24,309 Suze: versus a traditional. So, yes, the longer you can keep 132 00:09:24,320 --> 00:09:29,309 Suze: money in a Roth, the better off you are. All right, KT. 133 00:09:29,320 --> 00:09:30,030 Suze: Next one. 134 00:09:30,039 --> 00:09:35,869 KT: Ok. For an inherited traditional Ira, it's likely more optimal 135 00:09:35,880 --> 00:09:40,270 KT: to spread the withdrawals out over 10 years to avoid 136 00:09:40,280 --> 00:09:43,159 KT: pushing yourself into a higher tax bracket. 137 00:09:43,169 --> 00:09:46,309 Suze: Correct. So again, if you are inheriting 138 00:09:46,969 --> 00:09:52,200 Suze: a traditional IRA where you don't have to take out RMDs, 139 00:09:52,950 --> 00:09:57,218 Suze: but you have to wipe the account clean in 10 years, 140 00:09:57,669 --> 00:10:00,750 Suze: then you're better off taking it out little by little 141 00:10:00,760 --> 00:10:03,510 Suze: over those 10 years. So by the time you get 142 00:10:03,520 --> 00:10:04,820 Suze: to the 10th year, 143 00:10:05,690 --> 00:10:09,070 Suze: it's wiped clean because otherwise, if you let it accumulate 144 00:10:09,080 --> 00:10:11,789 Suze: and grow and grow and grow and in the 10th year, 145 00:10:11,799 --> 00:10:13,229 Suze: you have to take it all out. 146 00:10:13,599 --> 00:10:18,179 Suze: It may push you in a higher tax bracket. However, 147 00:10:18,469 --> 00:10:21,900 Suze: there are always exceptions, KT to every rule, so it 148 00:10:21,909 --> 00:10:26,340 Suze: also depends on the size of the traditional IRA that 149 00:10:26,349 --> 00:10:30,669 Suze: you are inheriting because maybe in 10 years, it can 150 00:10:30,679 --> 00:10:33,200 Suze: grow and grow and grow. And in 10 years, you 151 00:10:33,210 --> 00:10:36,000 Suze: will be in a lower tax bracket. You never know 152 00:10:36,010 --> 00:10:37,219 Suze: on your situation. 153 00:10:37,229 --> 00:10:39,699 KT: But if, if any of you have questions, just go. 154 00:10:39,799 --> 00:10:41,699 KT: and listen to last Sunday, Suze School. 155 00:10:41,909 --> 00:10:49,460 Suze: Better yet. Seriously, if you have questions, go to your CPA, 156 00:10:49,820 --> 00:10:54,059 Suze: make sure that you are getting the correct advice in 157 00:10:54,070 --> 00:11:00,090 Suze: your particular situation. That's what I would tell you the 158 00:11:00,099 --> 00:11:02,228 Suze: other thing and I'm gonna say it again and again 159 00:11:02,239 --> 00:11:05,619 Suze: and again, the true expert. The absolute 160 00:11:06,000 --> 00:11:10,939 Suze: in this area is Ed Slot. He has a book 161 00:11:10,950 --> 00:11:14,979 Suze: that you can get, you can go to IRA help.com, 162 00:11:15,130 --> 00:11:18,978 Suze: subscribe to his newsletter. But if you really want the 163 00:11:18,989 --> 00:11:23,880 Suze: latest information and everything, Ed Slot really is your go 164 00:11:23,890 --> 00:11:25,619 Suze: to person. All right, KT. 165 00:11:25,630 --> 00:11:30,020 KT: Ed does the latest and greatest. So, Suze from Roberta, 166 00:11:30,030 --> 00:11:32,098 KT: I have another RMD question. 167 00:11:32,349 --> 00:11:36,099 KT: I just listened to your podcast on RMDs for non 168 00:11:36,109 --> 00:11:42,228 KT: eligible beneficiaries. Just to clarify. My son inherited part of 169 00:11:42,239 --> 00:11:47,909 KT: my wife's traditional IRA. She passed away at age 72 170 00:11:48,080 --> 00:11:53,929 KT: in 2023 before she started withdrawing her RMDs. He still 171 00:11:53,940 --> 00:11:57,690 KT: has 10 years from the date of her death to 172 00:11:57,700 --> 00:12:00,530 KT: use all of his inherited funds, right? 173 00:12:01,419 --> 00:12:06,299 Suze: So Roberta, you actually have this correct because your wife 174 00:12:06,309 --> 00:12:09,460 Suze: died before it was required that she would take RMDs 175 00:12:09,469 --> 00:12:14,589 Suze: at the age of 73 not 72. Your son can 176 00:12:14,599 --> 00:12:21,478 Suze: absolutely have 10 years to wipe the account clean. Just 177 00:12:21,489 --> 00:12:23,559 Suze: that simple. All right. Go on KT. 178 00:12:23,570 --> 00:12:28,469 KT: Ok. Next question is from Susan. Suze, my daughter is getting 179 00:12:28,479 --> 00:12:30,439 KT: married and needs money. 180 00:12:30,929 --> 00:12:34,549 KT: My savings is dwindling and I'm thinking about taking money 181 00:12:34,559 --> 00:12:37,559 KT: out of the house if I take money out of 182 00:12:37,570 --> 00:12:40,830 KT: my home. Is there any help you can give me 183 00:12:40,840 --> 00:12:44,890 KT: as to the best way. I am 67 and was 184 00:12:44,900 --> 00:12:48,349 KT: thinking about a reverse mortgage, but I don't know much 185 00:12:48,359 --> 00:12:51,780 KT: about it. Any other solutions, Suze, I have a one 186 00:12:51,830 --> 00:12:52,710 KT: word answer. 187 00:12:53,919 --> 00:12:54,489 KT: Elope. 188 00:12:56,830 --> 00:13:02,460 Suze: Listen to me, Susan. Just because your daughter has decided 189 00:13:02,590 --> 00:13:06,238 Suze: to get married and just because she's doing it in 190 00:13:06,250 --> 00:13:10,689 Suze: a way where she needs money. That does not mean 191 00:13:10,780 --> 00:13:15,609 Suze: that you need to jeopardize your future. Just for one day. 192 00:13:16,409 --> 00:13:20,770 Suze: That wedding isn't going to create her future. That wedding 193 00:13:20,780 --> 00:13:24,569 Suze: is going to create hopefully a life of love for her. 194 00:13:25,039 --> 00:13:30,080 Suze: But if you take money and spend money you don't 195 00:13:30,090 --> 00:13:33,978 Suze: have on her wedding. And as time goes on, she 196 00:13:33,989 --> 00:13:37,609 Suze: sees that you can't afford your bills, you're suffering. You 197 00:13:37,619 --> 00:13:40,219 Suze: don't know what to do because of the money that 198 00:13:40,229 --> 00:13:43,939 Suze: you spent on her wedding, it will end up that 199 00:13:43,950 --> 00:13:46,900 Suze: she will be so upset that she ever even had 200 00:13:46,909 --> 00:13:50,340 Suze: that wedding. I can't even tell you. So this will 201 00:13:50,349 --> 00:13:53,780 Suze: backfire on both of you big time. 202 00:13:54,190 --> 00:13:57,289 Suze: So Susan, this is where you need to stand in 203 00:13:57,299 --> 00:14:01,619 Suze: your truth and say to your daughter, I love you 204 00:14:01,630 --> 00:14:06,250 Suze: more than life itself. I love that you are getting married. 205 00:14:06,750 --> 00:14:09,919 Suze: I hope it works out for you forever, but I 206 00:14:09,929 --> 00:14:12,250 Suze: cannot and I will not 207 00:14:12,799 --> 00:14:17,690 Suze: be able to help you financially on any level. When 208 00:14:17,700 --> 00:14:21,789 Suze: you say your savings is dwindling. When you tell me 209 00:14:21,799 --> 00:14:25,539 Suze: that you are 67 years of age, that means you're 210 00:14:25,549 --> 00:14:29,679 Suze: already spending more on your expenses than the income that 211 00:14:29,690 --> 00:14:31,299 Suze: you have coming in. 212 00:14:31,880 --> 00:14:35,679 Suze: So you cannot do this. You are not gonna do 213 00:14:35,690 --> 00:14:38,359 Suze: a reverse mortgage. You're not gonna put money on a 214 00:14:38,369 --> 00:14:42,219 Suze: credit card. You are going to do what's right versus 215 00:14:42,229 --> 00:14:47,599 Suze: what's easy and tell your daughter either she elopes, she 216 00:14:47,609 --> 00:14:51,260 Suze: has a wedding that they can finance in their own. Right. 217 00:14:51,270 --> 00:14:54,719 Suze: Let them put it on their credit cards. Let them 218 00:14:54,729 --> 00:14:59,609 Suze: ask the spouse's parents but you cannot do it. 219 00:15:00,320 --> 00:15:01,429 Suze: Oh boy. 220 00:15:01,679 --> 00:15:04,530 KT: Hey, Suze, one of the best weddings we ever attended 221 00:15:04,539 --> 00:15:08,109 KT: was up in the Blue Ridge Mountains for our nephew, David. 222 00:15:08,200 --> 00:15:10,080 KT: It was one of our favorite weddings. 223 00:15:10,090 --> 00:15:13,549 KT: David and his wife lived in the mountains. They invited 224 00:15:13,559 --> 00:15:15,390 KT: all of their local friends 225 00:15:15,929 --> 00:15:19,030 Suze: and they, they actually had like a little band of 226 00:15:19,039 --> 00:15:22,859 Suze: their friends playing, you know, all and they made a 227 00:15:22,869 --> 00:15:26,659 Suze: cake and they had a table filled with, with cakes 228 00:15:26,729 --> 00:15:29,809 Suze: that everybody made. Instead of a big wedding cake, everybody 229 00:15:29,820 --> 00:15:30,119 Suze: made 230 00:15:30,159 --> 00:15:35,059 Suze: flowers were picked from everybody's garden and everyone sat outside 231 00:15:35,309 --> 00:15:39,659 Suze: roasted a pig and it was the whole but the 232 00:15:39,669 --> 00:15:41,349 Suze: whole wedding maybe 233 00:15:41,900 --> 00:15:44,409 Suze: cost a few $1000. 234 00:15:44,419 --> 00:15:45,960 Suze: Not even, not even . 235 00:15:47,090 --> 00:15:49,580 Suze: Yeah, it was, it didn't cost anything because they didn't 236 00:15:49,590 --> 00:15:54,510 Suze: have money. Everybody brought their own wedding gift and that 237 00:15:54,520 --> 00:15:57,010 Suze: was the true gift. They're still married to this day 238 00:15:57,020 --> 00:16:01,250 Suze: with two incredible kids. And so and still living in 239 00:16:01,260 --> 00:16:04,469 Suze: the mountains, loving mountain life. Tell everybody how much we 240 00:16:04,479 --> 00:16:05,609 Suze: spent on our wedding. 241 00:16:06,380 --> 00:16:07,190 KT: Nothing. 242 00:16:07,200 --> 00:16:13,469 Suze: That's right. Nothing right. So therefore, a wedding does not 243 00:16:13,479 --> 00:16:17,789 Suze: determine the success of a marriage. All right, KT. 244 00:16:18,119 --> 00:16:20,789 KT: Ok. So next is from Christine 245 00:16:21,460 --> 00:16:25,090 KT: Suze, are the debt relief programs that I see ads 246 00:16:25,099 --> 00:16:27,469 KT: for on social media that claim to be able to 247 00:16:27,479 --> 00:16:31,229 KT: reduce or nearly wipe out credit card or loan debt. 248 00:16:31,239 --> 00:16:35,719 KT: Are they legit or are they scams? So they're asking 249 00:16:35,729 --> 00:16:37,789 KT: is there they seem too good to be true. Is 250 00:16:37,799 --> 00:16:40,039 KT: there anything that you recommend that, you 251 00:16:40,114 --> 00:16:41,594 KT: know, is safe and true? 252 00:16:41,864 --> 00:16:44,474 Suze: I would not touch any of those with a 10 253 00:16:44,484 --> 00:16:47,934 Suze: ft pole the way they're able to wipe out your 254 00:16:47,945 --> 00:16:52,255 Suze: credit card loans. All of those things is very simple. 255 00:16:52,385 --> 00:16:54,794 Suze: You have to give them a fee most of the 256 00:16:54,804 --> 00:16:59,844 Suze: times up front, maybe $750 or 1000. They then will 257 00:16:59,854 --> 00:17:03,614 Suze: instruct you to stop paying those loans. 258 00:17:04,000 --> 00:17:07,239 Suze: Just don't pay it and put any money you were 259 00:17:07,250 --> 00:17:12,030 Suze: paying towards those loans or credit cards into a savings account, 260 00:17:12,310 --> 00:17:17,859 Suze: then your credit score is absolutely ruined. Then what happens 261 00:17:17,869 --> 00:17:22,260 Suze: is they go to the creditors and they try to 262 00:17:22,270 --> 00:17:25,640 Suze: negotiate if you owed 5000, they say, all right, we'll 263 00:17:25,650 --> 00:17:29,379 Suze: give you 2000, we'll give you whatever. And if the 264 00:17:29,390 --> 00:17:30,859 Suze: creditor takes it, 265 00:17:31,540 --> 00:17:33,760 Suze: then you have to give them the money that you've 266 00:17:33,770 --> 00:17:37,800 Suze: saved towards it. And that's usually how they wipe it out. 267 00:17:38,670 --> 00:17:41,708 Suze: That the better solution, the better solution is going to 268 00:17:41,719 --> 00:17:47,969 Suze: the NFC C National Foundation of Credit Counselors, NFC c.org 269 00:17:48,300 --> 00:17:51,969 Suze: and work out a payment plan with them. It's usually 270 00:17:51,979 --> 00:17:55,920 Suze: over a five year period of time. They can normally 271 00:17:56,074 --> 00:18:00,364 Suze: negotiate the interest rates from your creditors down to 0%. 272 00:18:00,604 --> 00:18:03,295 Suze: And that's how I would do it. Otherwise believe it 273 00:18:03,305 --> 00:18:05,885 Suze: or not, you could do it on your own. Just 274 00:18:05,895 --> 00:18:09,885 Suze: stop paying your bills and ruin your credit score. Maybe 275 00:18:09,895 --> 00:18:13,545 Suze: it's already ruined and call your creditors and ask them 276 00:18:13,935 --> 00:18:15,604 Suze: if you can settle with them. 277 00:18:15,880 --> 00:18:21,609 Suze: But remember when a creditor relieves any debt, you owe 278 00:18:21,619 --> 00:18:27,459 Suze: $5000 and they've settled for less. You owe taxes on 279 00:18:27,469 --> 00:18:32,420 Suze: the difference, right? So be careful everybody. All right. 280 00:18:32,550 --> 00:18:36,500 KT: All right. Next questions from Karen. Karen is nervous about 281 00:18:36,510 --> 00:18:40,140 KT: the banks and all the rumors. So she said in 282 00:18:40,150 --> 00:18:43,900 KT: the event of a major crisis in banking, I can't 283 00:18:43,979 --> 00:18:47,119 KT: believe with the US debt that the FDIC would be 284 00:18:47,130 --> 00:18:51,208 KT: able to pay us all back. What percentage of savings 285 00:18:51,219 --> 00:18:54,680 KT: should I have in a bank or credit union? And 286 00:18:54,689 --> 00:18:58,660 KT: what percentage should I keep at home or in a 287 00:18:58,670 --> 00:19:03,310 KT: safety deposit box for quick access? If something happens to 288 00:19:03,319 --> 00:19:07,780 KT: the bank system, we're getting more and more questions like this. 289 00:19:07,790 --> 00:19:11,989 Suze: Listen, everybody, not every bank is gonna fail at once. 290 00:19:12,579 --> 00:19:16,270 Suze: That is just a fact. It's not the entire system. Listen, 291 00:19:16,280 --> 00:19:21,349 Suze: if the entire system, every bank, every credit union crashes, 292 00:19:21,880 --> 00:19:28,030 Suze: we have big time problems, big time and that's just 293 00:19:28,040 --> 00:19:31,449 Suze: not how we're set up anymore. The banks are required 294 00:19:31,459 --> 00:19:34,530 Suze: and credit unions to have certain amounts of money in reserve. 295 00:19:34,540 --> 00:19:36,510 Suze: And that's why when you see 296 00:19:36,880 --> 00:19:41,319 Suze: a credit union like Alliant start to lower their interest 297 00:19:41,329 --> 00:19:44,650 Suze: rates are not giving you the absolute top just to 298 00:19:44,660 --> 00:19:49,540 Suze: sucker you in. It's because they are protecting the credit union, 299 00:19:49,819 --> 00:19:54,458 Suze: they are making sure they're not extending and making promises 300 00:19:54,660 --> 00:19:57,250 Suze: that will put them in jeopardy. 301 00:19:57,660 --> 00:20:01,079 Suze: So you have to not always go for the biggest 302 00:20:01,089 --> 00:20:04,280 Suze: interest rate if you want to check out Alliant Credit Union, 303 00:20:04,290 --> 00:20:10,659 Suze: which you all should go to my myalliant.com and look 304 00:20:10,670 --> 00:20:11,159 Suze: for me 305 00:20:11,540 --> 00:20:16,329 Suze: because I can tell you they are conservative. Dennis Devine 306 00:20:16,339 --> 00:20:21,319 Suze: the CEO cares. So I would bet you dollars to donuts... 307 00:20:21,449 --> 00:20:24,599 Suze: are donuts valuable KT? Anyway, it doesn't matter. 308 00:20:24,609 --> 00:20:25,369 KT: Krispy Kreme. 309 00:20:26,510 --> 00:20:28,979 Suze: Do we eat Krispy? But we like Dunkin. 310 00:20:29,280 --> 00:20:32,760 Suze: I, I like the little, what are they called munchkins, 311 00:20:32,770 --> 00:20:34,400 Suze: those little doughnut holes. 312 00:20:34,410 --> 00:20:35,900 KT: Anyway, tell them more about Alliant. 313 00:20:36,449 --> 00:20:41,760 Suze: So, so basically is that I know that their portfolio 314 00:20:41,890 --> 00:20:44,920 Suze: is structured in such a way that they are not 315 00:20:44,930 --> 00:20:47,599 Suze: going to go under. Now, 316 00:20:48,630 --> 00:20:51,679 Suze: the thing that you have to know is that obviously 317 00:20:51,689 --> 00:20:54,930 Suze: in any bank or credit union, you have to make 318 00:20:54,939 --> 00:20:58,890 Suze: sure that you're at least insured by the FDIC or 319 00:20:58,900 --> 00:21:03,270 Suze: NCU A do not have more money in there than 320 00:21:03,280 --> 00:21:09,089 Suze: what you're insured for. Ok. Number one next, you're asking 321 00:21:09,099 --> 00:21:14,449 Suze: what percentage of savings should be in a bank, credit union, blah, blah, blah, blah, 322 00:21:15,079 --> 00:21:17,890 Suze: whatever percentage makes you feel secure 323 00:21:18,569 --> 00:21:23,139 Suze: as long as it's insured under FDIC and NCUA that 324 00:21:23,150 --> 00:21:24,790 Suze: is up to you. However, 325 00:21:25,489 --> 00:21:29,109 Suze: you're asking what percentage should be kept at home or 326 00:21:29,119 --> 00:21:33,438 Suze: in a safety deposit box for quick access. If something 327 00:21:33,449 --> 00:21:35,819 Suze: was to happen to a banking system, 328 00:21:36,949 --> 00:21:43,129 Suze: that amount again is whatever amount makes you feel secure, 329 00:21:43,140 --> 00:21:47,290 Suze: you just need to know that if you keep, let's 330 00:21:47,300 --> 00:21:53,400 Suze: just say $20,000 in your safety deposit box, that's costing 331 00:21:53,410 --> 00:21:59,060 Suze: you approximately 800 to $1000 a year in interest that 332 00:21:59,069 --> 00:22:00,879 Suze: it could be making for you. 333 00:22:01,609 --> 00:22:06,670 Suze: So there's a cost to doing that. So figure out 334 00:22:06,680 --> 00:22:09,709 Suze: what makes you feel secure and keep that in a 335 00:22:09,719 --> 00:22:13,760 Suze: place that nothing can happen to. Because again, if you 336 00:22:13,770 --> 00:22:16,369 Suze: just keep it at home in a box or under 337 00:22:16,380 --> 00:22:20,310 Suze: your mattress, you're robbed. Somebody takes it, the house burns 338 00:22:20,319 --> 00:22:26,680 Suze: down fire, tornado, hurricane flood. Good luck that money is gone. 339 00:22:26,689 --> 00:22:30,349 Suze: Maybe your insurance policy covers $500. But that is it. 340 00:22:30,890 --> 00:22:32,130 Suze: All right. Next question. 341 00:22:32,270 --> 00:22:36,760 KT: Ok. From Jacqueline, my aunt is leaving her primary residence 342 00:22:36,770 --> 00:22:40,660 KT: to me via a living trust. She's being told by 343 00:22:40,670 --> 00:22:44,280 KT: a friend that I'll have to pay 35 percent taxes 344 00:22:44,290 --> 00:22:48,290 KT: to Uncle Sam upon receiving the property. I think I'll 345 00:22:48,300 --> 00:22:51,280 KT: get a step up in cost basis when I sell that. 346 00:22:51,520 --> 00:22:56,229 KT: And there's not a 35% inheritance tax just because I'm 347 00:22:56,239 --> 00:22:59,899 KT: a niece and not a son or daughter. Is that true? 348 00:23:00,180 --> 00:23:00,900 Suze: Yes, Keep going. 349 00:23:00,910 --> 00:23:03,349 KT: Ok. I never heard that the aunt wants to know. 350 00:23:03,359 --> 00:23:06,900 KT: Is it better for her to sell the property before 351 00:23:06,910 --> 00:23:10,500 KT: she dies? So, I don't have to pay this tax. 352 00:23:10,569 --> 00:23:11,310 Suze: Pop quizzy!. 353 00:23:11,939 --> 00:23:13,420 KT: Oh, I don't know that... 354 00:23:14,000 --> 00:23:14,280 Suze: Pop quizzy. 355 00:23:16,800 --> 00:23:20,020 Suze: She has an aunt who has a property that she 356 00:23:20,030 --> 00:23:24,649 Suze: probably bought a long time ago. It's now worth probably 357 00:23:24,660 --> 00:23:32,609 Suze: a serious sum of money. Some friend told her niece 358 00:23:32,619 --> 00:23:37,660 Suze: that if her aunt leaves this directly to her niece, 359 00:23:37,670 --> 00:23:40,660 Suze: her niece is going to have to pay 35 percent 360 00:23:40,670 --> 00:23:43,649 Suze: tax on the value of that home. 361 00:23:44,180 --> 00:23:48,359 Suze: So the question is, should the aunt sell it and 362 00:23:48,369 --> 00:23:53,438 Suze: just leave the niece cash or should she keep the 363 00:23:53,449 --> 00:23:58,550 Suze: house hopefully in a trust and leave it to her niece? 364 00:23:58,599 --> 00:24:01,639 Suze: It's in a trust. The part that I'm confused about. 365 00:24:01,979 --> 00:24:04,989 Suze: Is there a difference between being a niece and a 366 00:24:05,000 --> 00:24:07,489 Suze: son or daughter? Pop quizzy! 367 00:24:08,060 --> 00:24:10,239 KT: Oh, well, 368 00:24:10,719 --> 00:24:13,790 KT: I would say maybe the aunt should just sell the 369 00:24:13,800 --> 00:24:18,890 KT: property before she dies and leave the money to her niece. 370 00:24:19,680 --> 00:24:20,140 Suze: (Suze makes the wrong answer sound) 371 00:24:21,199 --> 00:24:22,939 KT: Ok. Why did I get that wrong? 372 00:24:23,199 --> 00:24:26,530 KT: So, for so many reasons, are you ready? All right. 373 00:24:26,719 --> 00:24:30,869 KT: First of all, whoever this friend is, can you just 374 00:24:30,880 --> 00:24:34,339 KT: go tell them to kind of take a financial hike 375 00:24:34,550 --> 00:24:38,319 KT: and on the road as this person's hiking to learn 376 00:24:38,329 --> 00:24:42,319 KT: the rules before they tell somebody to do something? That 377 00:24:42,329 --> 00:24:42,409 KT: would 378 00:24:42,505 --> 00:24:47,324 Suze: be the biggest mistake in your life. Second KT, there 379 00:24:47,334 --> 00:24:51,974 Suze: is no difference who you leave something to between a niece, 380 00:24:51,984 --> 00:24:56,435 Suze: a friend, uh, an, a spouse. It does not matter. 381 00:24:56,994 --> 00:25:00,084 Suze: The only difference with a spouse is that there is 382 00:25:00,094 --> 00:25:04,204 Suze: no estate tax limit. Currently, the estate tax limit 383 00:25:04,500 --> 00:25:09,680 Suze: for this aunt to leave something to her niece is 384 00:25:09,689 --> 00:25:15,869 Suze: about 12 million $800,000. Anything under that is absolutely a 385 00:25:15,880 --> 00:25:21,900 Suze: state tax free. Number one, number two, even if her 386 00:25:21,910 --> 00:25:26,319 Suze: aunt doesn't die for a little bit. And in 2026 387 00:25:26,329 --> 00:25:29,760 Suze: we go back to the old estate tax limits. It's 388 00:25:29,770 --> 00:25:32,319 Suze: still around $5 million. Ok. 389 00:25:33,010 --> 00:25:38,680 Suze: In terms of income tax, if her aunt dies leaves 390 00:25:38,689 --> 00:25:41,649 Suze: this to her niece via the trust. So there's no 391 00:25:41,660 --> 00:25:44,739 Suze: probate even if she didn't have a trust and it 392 00:25:44,750 --> 00:25:47,520 Suze: was in a will and left it to her niece. 393 00:25:48,180 --> 00:25:52,780 Suze: Guess what? The niece gets a step up in cost basis. 394 00:25:52,810 --> 00:25:53,689 KT: That's what she said. 395 00:25:53,739 --> 00:25:58,140 Suze: Just like she thought she, if her aunt had a 396 00:25:58,150 --> 00:26:02,000 Suze: house that she bought for 100,000, it's not worth a million. 397 00:26:02,949 --> 00:26:05,089 Suze: A million. All right, 398 00:26:05,849 --> 00:26:09,709 Suze: the niece gets, it turns around and sells it no 399 00:26:09,719 --> 00:26:14,790 Suze: income tax whatsoever. If the niece keeps it lives in it. 400 00:26:15,040 --> 00:26:17,250 Suze: And now all of a sudden, a year later it's 401 00:26:17,260 --> 00:26:21,449 Suze: worth 1.1 million and sells it. Now, she pays taxes 402 00:26:21,459 --> 00:26:25,750 Suze: on just the $100,000 as capital. Remember that? Ok. Now, 403 00:26:26,459 --> 00:26:28,150 Suze: if the aunt 404 00:26:28,869 --> 00:26:33,150 Suze: sells it now like you wanted her to so that 405 00:26:33,160 --> 00:26:36,579 Suze: she could give the cash to her niece. Number one, 406 00:26:36,589 --> 00:26:40,900 Suze: where is her aunt going to live? And number two, 407 00:26:40,910 --> 00:26:44,219 Suze: her aunt is going to have to pay capital gains 408 00:26:44,229 --> 00:26:48,349 Suze: tax on that, leaving less money for her to leave 409 00:26:48,359 --> 00:26:49,300 Suze: to her niece. 410 00:26:50,500 --> 00:26:55,239 Suze: So therefore if she gifted the house right now to 411 00:26:55,250 --> 00:27:01,159 Suze: her niece right now, she'd also be gifting her tax basis. 412 00:27:01,170 --> 00:27:04,469 Suze: So if it was $100,000 that's what the cost basis 413 00:27:04,479 --> 00:27:07,650 Suze: would be for the niece. So the only way this 414 00:27:07,660 --> 00:27:09,310 Suze: should go down 415 00:27:09,770 --> 00:27:13,290 Suze: is aunt should keep the house, keep it in a trust, 416 00:27:13,369 --> 00:27:17,650 Suze: live in it till she dies. Then the de inherits 417 00:27:17,660 --> 00:27:20,669 Suze: it and everything goes smoothly. Ok, 418 00:27:21,800 --> 00:27:24,020 Suze: I mean, ok, you sound like you're a little wounded 419 00:27:24,030 --> 00:27:27,698 Suze: pumpy there. No, I was just confused about the son, 420 00:27:27,709 --> 00:27:32,280 Suze: the daughter, the niece. No difference. KT spouse is a 421 00:27:32,290 --> 00:27:35,260 Suze: little bit different but not much. No, the only difference 422 00:27:35,270 --> 00:27:39,699 Suze: with a spouse is I can leave you, KT any 423 00:27:39,709 --> 00:27:44,359 Suze: amount of money I could leave you $100 million. 424 00:27:45,270 --> 00:27:48,089 Suze: You could leave me 100 million. You could leave me 425 00:27:48,099 --> 00:27:51,390 Suze: a billion. Any amount of money. A spouse to a 426 00:27:51,400 --> 00:27:56,239 Suze: spouse on death never pays state taxes. Anybody else 427 00:27:56,949 --> 00:28:00,439 Suze: pays estate taxes unless it's a charity. 428 00:28:00,449 --> 00:28:03,879 KT: Ok. This is from a strong single mom. We love 429 00:28:03,890 --> 00:28:07,910 KT: strong single moms. Hi, Suze and KT . I'm a single mom 430 00:28:07,920 --> 00:28:11,250 KT: living in the Bay area. My ex husband and I 431 00:28:11,260 --> 00:28:15,079 KT: divorced nine years ago. At the time of our divorce, 432 00:28:15,089 --> 00:28:18,640 KT: it was my choice to leave that abusive marriage without 433 00:28:18,714 --> 00:28:24,125 KT: seeking spousal or child support. I chose to give myself 434 00:28:24,135 --> 00:28:26,954 KT: a fresh start a life that I own myself and 435 00:28:26,964 --> 00:28:31,125 KT: I wasn't afraid to start over everybody who's in that situation. 436 00:28:31,135 --> 00:28:35,234 KT: Listen to what she's saying. Listen, listen. So this, this 437 00:28:35,244 --> 00:28:38,555 KT: is interesting. So the ex husband is gone. He fled 438 00:28:38,564 --> 00:28:40,535 KT: the country and he is out of their life. 439 00:28:40,819 --> 00:28:43,510 KT: My ex husband's mom and I have always had a 440 00:28:43,520 --> 00:28:47,479 KT: good relationship with my son. We still see her for 441 00:28:47,489 --> 00:28:50,800 KT: dinner occasionally now and then and she also lives in 442 00:28:50,810 --> 00:28:55,500 KT: the Bay area. She owns a few residential properties that 443 00:28:55,510 --> 00:28:59,079 KT: she rents. She and I have started to talk about 444 00:28:59,089 --> 00:29:02,880 KT: financial support for me and my son. So the grandma 445 00:29:02,890 --> 00:29:05,880 KT: wants to participate and take care of her grandson. 446 00:29:06,650 --> 00:29:09,959 KT: So she said I'm currently living in a condo that 447 00:29:09,969 --> 00:29:12,849 KT: I own. But I want to move to a single 448 00:29:12,859 --> 00:29:17,089 KT: family home. She's offering that I rent out my condo 449 00:29:17,099 --> 00:29:20,390 KT: and then move into one of her properties as her 450 00:29:20,400 --> 00:29:23,520 KT: tenant while this will allow us to live in a 451 00:29:23,530 --> 00:29:27,130 KT: single family home with more space. I do not feel 452 00:29:27,140 --> 00:29:30,630 KT: comfortable living as her tenant. I want to live in 453 00:29:30,640 --> 00:29:34,099 KT: my own home where I own it. So this is 454 00:29:34,109 --> 00:29:36,420 KT: where it gets a little bit sticky. 455 00:29:37,280 --> 00:29:40,079 KT: The grandma says she does not want to sell to 456 00:29:40,089 --> 00:29:44,540 KT: transfer the ownership to me due to taxes. Is there 457 00:29:44,550 --> 00:29:47,750 KT: any way for her to transfer the ownership to me 458 00:29:47,760 --> 00:29:52,630 KT: or to my trust without huge taxes? If she sells 459 00:29:52,640 --> 00:29:56,300 KT: a house that she inherited in 2009 460 00:29:56,579 --> 00:30:00,479 KT: that was purchased in the 19 nineties, would there be 461 00:30:00,489 --> 00:30:05,640 KT: huge capital gains tax? Yes, there would. So, what can 462 00:30:05,650 --> 00:30:06,280 KT: she do? 463 00:30:06,290 --> 00:30:10,270 Suze: So, here's what you really need to understand here again, 464 00:30:10,280 --> 00:30:13,359 Suze: very similar to the quizzy that I just gave you. 465 00:30:14,010 --> 00:30:18,310 Suze: You don't want anybody if they don't have to, to 466 00:30:18,319 --> 00:30:22,839 Suze: sell a home that either they're renting out or whatever 467 00:30:22,849 --> 00:30:23,859 Suze: it may be 468 00:30:24,569 --> 00:30:28,069 Suze: where there is a huge gain. And if they inherited 469 00:30:28,079 --> 00:30:32,530 Suze: it in 2009, their cost basis, whatever the house was 470 00:30:32,540 --> 00:30:37,239 Suze: worth in 2009. And may I remind all of you 471 00:30:37,660 --> 00:30:45,069 Suze: back in 2008, the housing market crashed? So if she 472 00:30:45,079 --> 00:30:51,150 Suze: inherited a home in 2009, before home prices started to 473 00:30:51,160 --> 00:30:52,790 Suze: skyrocket again, 474 00:30:53,260 --> 00:30:58,800 Suze: remember that was 15 years ago, the cost basis on 475 00:30:58,810 --> 00:31:06,040 Suze: her home is seriously low and probably now very high. 476 00:31:06,170 --> 00:31:11,199 Suze: Plus it's giving her rental income. So rental income in 477 00:31:11,209 --> 00:31:15,310 Suze: the Bay area, which is San Francisco is incredibly high. 478 00:31:15,699 --> 00:31:19,209 Suze: So you don't want her to sell it just because 479 00:31:19,219 --> 00:31:22,199 Suze: you want to live in a house that you own. 480 00:31:22,640 --> 00:31:26,000 Suze: What you should probably do is have a heart to 481 00:31:26,010 --> 00:31:30,939 Suze: heart talk with her, move in to her home, rent 482 00:31:30,949 --> 00:31:35,959 Suze: it from her and ask her if it's possible because 483 00:31:35,969 --> 00:31:39,780 Suze: maybe she doesn't have anybody else to leave anything to that. 484 00:31:39,790 --> 00:31:43,150 Suze: As she gets older, you will take care of her 485 00:31:43,160 --> 00:31:45,079 Suze: in the best way you possibly can. 486 00:31:45,989 --> 00:31:49,979 Suze: Can you ask her that upon her death and her trust? 487 00:31:49,989 --> 00:31:53,449 Suze: Can she leave it to you 488 00:31:54,479 --> 00:31:58,310 Suze: and then you obviously will leave it to your son. 489 00:31:58,849 --> 00:32:02,239 Suze: You can even set it up where that is mandatory 490 00:32:02,250 --> 00:32:05,989 Suze: in her trust so that she feels good about it. 491 00:32:06,130 --> 00:32:08,949 Suze: If she were willing to do that girlfriend, 492 00:32:09,469 --> 00:32:13,099 Suze: that would be the best of all worlds. So what 493 00:32:13,109 --> 00:32:16,319 Suze: you can do is with your condo just so that 494 00:32:16,329 --> 00:32:19,739 Suze: you still own something, just rent it out or put 495 00:32:19,750 --> 00:32:22,540 Suze: it in the air BNB section and make money with 496 00:32:22,550 --> 00:32:24,859 Suze: it that way as well as probably 497 00:32:24,944 --> 00:32:29,694 Suze: it appreciating somewhat in the future. You can do that 498 00:32:29,704 --> 00:32:33,724 Suze: as well. So you also feel like you own something 499 00:32:34,055 --> 00:32:38,724 Suze: long answer to your question. But KT the reason that 500 00:32:38,734 --> 00:32:40,435 Suze: I went along with that 501 00:32:40,800 --> 00:32:45,060 Suze: is that there seems to be a lot of confusion 502 00:32:45,380 --> 00:32:49,329 Suze: about inheriting properties and how does it work tax wise? 503 00:32:49,339 --> 00:32:52,420 Suze: And when should you inherit it via a death or 504 00:32:52,430 --> 00:32:55,479 Suze: giving it to somebody? And there's a lot of confusion 505 00:32:55,489 --> 00:32:59,650 Suze: about that. That's why I spent so much time on it. 506 00:32:59,819 --> 00:33:01,760 Suze: We already had your quizzy girlfriend. 507 00:33:01,869 --> 00:33:02,510 KT: I know. 508 00:33:02,709 --> 00:33:03,540 Suze: Are you happy? 509 00:33:03,569 --> 00:33:04,239 KT: Yes. 510 00:33:04,250 --> 00:33:05,930 Suze: Because you got it wrong? 511 00:33:06,579 --> 00:33:09,219 KT: Well, let's put it this way. I would be elated 512 00:33:09,229 --> 00:33:10,160 KT: if I got it right. 513 00:33:10,170 --> 00:33:13,890 Suze: All right. Next time you will. All right, everybody. So 514 00:33:13,900 --> 00:33:17,030 Suze: that's the end of today's podcast. I'm not sure exactly 515 00:33:17,040 --> 00:33:20,290 Suze: what I'm gonna be doing Sunday with Suze School. Just 516 00:33:20,300 --> 00:33:25,979 Suze: heads up. We have a storm coming our way. It's 517 00:33:25,989 --> 00:33:27,050 Suze: coming our way. 518 00:33:27,265 --> 00:33:30,005 Suze: See where it goes. So, we'll see what happens on 519 00:33:30,015 --> 00:33:34,824 Suze: Sunday's podcast if I can broadcast or not. But until 520 00:33:34,834 --> 00:33:37,604 Suze: then there's only one thing that we want you to remember. 521 00:33:37,685 --> 00:33:42,204 Suze: And that is this people first, then money, then things. 522 00:33:42,244 --> 00:33:44,564 Suze: And if you do that and stay healthy, you will 523 00:33:44,574 --> 00:33:45,935 Suze: be what KT? 524 00:33:45,944 --> 00:33:47,464 KT: Unstoppable.