1 00:00:41,918 --> 00:00:46,259 Suze: August 18th, 2024. Welcome everybody to the Women and Money 2 00:00:46,270 --> 00:00:50,430 Suze: podcast as well as everyone. And I do mean everyone 3 00:00:50,529 --> 00:00:57,389 Suze: smart enough to listen. All right, August 18th, you know 4 00:00:57,400 --> 00:01:02,290 Suze: what that means? Yesterday was August 17th, which happens to 5 00:01:02,299 --> 00:01:04,629 Suze: be Colo's birthday 6 00:01:05,569 --> 00:01:08,860 Suze: and Colo because I know you listen to the podcast. 7 00:01:09,239 --> 00:01:14,069 Suze: You are now 45 years of age. 8 00:01:14,819 --> 00:01:19,869 Suze: You were right around 35 when we first met you. 9 00:01:20,599 --> 00:01:24,339 Suze: We've all come such a long way, haven't we? My friend? 10 00:01:24,629 --> 00:01:29,559 Suze: So happy, happy, happy birthday to you yesterday. We know 11 00:01:29,569 --> 00:01:33,519 Suze: that you're coming home on Tuesday the 20th. So we 12 00:01:33,529 --> 00:01:37,699 Suze: will be waiting at the airport, open arms to say, 13 00:01:37,709 --> 00:01:43,289 Suze: welcome home, we love you and missed you, Colo. All right, 14 00:01:43,430 --> 00:01:48,250 Suze: today's podcast is all about Suze School. 15 00:01:48,599 --> 00:01:53,459 Suze: So get out your notebooks because the topic of today 16 00:01:54,290 --> 00:01:56,830 Suze: is let go. 17 00:01:57,940 --> 00:02:02,180 Suze: Just two words. Let go. Can you do me a 18 00:02:02,190 --> 00:02:06,639 Suze: favor and in your notebook, hopefully, you have a clean 19 00:02:06,650 --> 00:02:09,449 Suze: sheet of paper or if you don't have a notebook, 20 00:02:09,460 --> 00:02:13,910 Suze: just get out a piece of paper, write down the 21 00:02:13,919 --> 00:02:15,299 Suze: words big. 22 00:02:16,610 --> 00:02:18,669 Suze: "Let go." 23 00:02:20,479 --> 00:02:21,860 Suze: Sit with that for a second. 24 00:02:23,179 --> 00:02:23,990 Suze: All right. 25 00:02:24,820 --> 00:02:25,559 Suze: Now 26 00:02:27,210 --> 00:02:30,978 Suze: the other day, KT and I were cleaning out our 27 00:02:30,990 --> 00:02:33,190 Suze: closet here on the island 28 00:02:34,288 --> 00:02:38,509 Suze: and we took everything and I mean, everything that was 29 00:02:38,520 --> 00:02:42,809 Suze: in the closet and it's not a small closet, everything 30 00:02:42,820 --> 00:02:47,559 Suze: that was in the closet and put it on our bed, 31 00:02:48,020 --> 00:02:50,869 Suze: huge pile of clothing 32 00:02:51,979 --> 00:02:55,770 Suze: and little by little, we started to go through one 33 00:02:55,779 --> 00:02:57,839 Suze: thing and then another thing 34 00:02:58,500 --> 00:03:01,320 Suze: and for me, it's very easy to let go. If 35 00:03:01,330 --> 00:03:03,210 Suze: it were up to me, I wouldn't even look at 36 00:03:03,220 --> 00:03:05,418 Suze: those clothes. I would just wrap them all up and 37 00:03:05,429 --> 00:03:07,800 Suze: take it down to the village here and give it 38 00:03:07,809 --> 00:03:09,970 Suze: to all the people that live in the village that 39 00:03:09,979 --> 00:03:13,440 Suze: work on the island. Just that simple. I wouldn't have cared. 40 00:03:14,300 --> 00:03:19,460 Suze: But as KT was going through things, she was looking 41 00:03:19,470 --> 00:03:22,039 Suze: at something that I obviously didn't care about because it 42 00:03:22,050 --> 00:03:25,130 Suze: was on the bed and she said, oh, I love 43 00:03:25,139 --> 00:03:27,360 Suze: this little t-shirt. I'm keeping it. 44 00:03:28,059 --> 00:03:31,850 Suze: Oh, I really like this. I'm gonna keep it 45 00:03:32,570 --> 00:03:38,350 Suze: and it's so hard at times to just let things 46 00:03:38,399 --> 00:03:44,470 Suze: go and it's not just about clothes, it's all kinds 47 00:03:44,479 --> 00:03:50,350 Suze: of things. It is so hard to let go. Sometimes 48 00:03:50,649 --> 00:03:55,830 Suze: of not the most productive relationship that you may be in. 49 00:03:56,669 --> 00:03:59,889 Suze: You know, things aren't working out for you. They're not 50 00:03:59,899 --> 00:04:04,630 Suze: really good for you but you just don't wanna let 51 00:04:04,639 --> 00:04:05,669 Suze: it go 52 00:04:06,830 --> 00:04:13,529 Suze: and it's not just clothes or relationships. It's also money. 53 00:04:14,139 --> 00:04:19,149 Suze: How many of you have $10,000 of credit card debt, 54 00:04:20,678 --> 00:04:26,409 Suze: maybe at 20% interest. And that interest is not tax deductible. 55 00:04:27,279 --> 00:04:34,309 Suze: And yet you have $15,000 in a savings account maybe 56 00:04:34,320 --> 00:04:39,339 Suze: only making 1,2, 3% whatever it is. And that is taxable. 57 00:04:40,290 --> 00:04:46,269 Suze: And yet you refuse to let go of that money 58 00:04:46,279 --> 00:04:48,390 Suze: that is in the savings account 59 00:04:49,170 --> 00:04:53,690 Suze: to take $10,000 of it and pay off your credit 60 00:04:53,700 --> 00:04:56,029 Suze: card debt. You refuse 61 00:04:57,019 --> 00:05:00,299 Suze: because it is so hard to let go of what's 62 00:05:00,309 --> 00:05:04,488 Suze: known versus what would happen. What would be your security 63 00:05:04,500 --> 00:05:05,920 Suze: if you did that 64 00:05:06,850 --> 00:05:09,919 Suze: and you don't even realize you could always use your 65 00:05:09,928 --> 00:05:14,399 Suze: credit cards again. Now you have $10,000 of an available 66 00:05:14,410 --> 00:05:18,808 Suze: credit limit to charge food to pay things by credit, 67 00:05:18,820 --> 00:05:22,350 Suze: everything's credit cards anyway. So you could get yourself out 68 00:05:22,359 --> 00:05:26,070 Suze: of trouble if you needed to at that point in time, 69 00:05:26,119 --> 00:05:30,029 Suze: but you refuse to let it go. 70 00:05:30,928 --> 00:05:37,738 Suze: You also refuse to let stocks go. Investments go. How 71 00:05:37,750 --> 00:05:42,839 Suze: many of you, especially the women out there? You inherited 72 00:05:42,850 --> 00:05:46,980 Suze: a stock portfolio from your deceased spouse 73 00:05:47,920 --> 00:05:51,779 Suze: and your deceased spouse worked so hard on this portfolio. 74 00:05:51,790 --> 00:05:55,779 Suze: Loved these stocks, whether they were good stocks or bad 75 00:05:55,790 --> 00:06:01,040 Suze: stocks didn't matter, but they were your deceased spouse's stocks. 76 00:06:01,329 --> 00:06:02,649 Suze: And now they're years 77 00:06:03,970 --> 00:06:06,789 Suze: and you don't want to sell them, you watch them 78 00:06:06,799 --> 00:06:10,488 Suze: go down, they're totally out of favor now. You don't 79 00:06:10,500 --> 00:06:14,049 Suze: even know why they bought some of these stocks, but 80 00:06:14,059 --> 00:06:19,179 Suze: you don't want to let them go because of the memories, 81 00:06:20,049 --> 00:06:24,859 Suze: what they meant to your deceased spouse. You just don't 82 00:06:24,869 --> 00:06:27,820 Suze: want to let it go, but it's not just what 83 00:06:27,829 --> 00:06:30,459 Suze: happens with your deceased spouse. 84 00:06:31,178 --> 00:06:36,279 Suze: It's also what happens with stocks that you have purchased. 85 00:06:36,890 --> 00:06:41,799 Suze: How many of you purchased the ETF ARC that I 86 00:06:41,809 --> 00:06:44,480 Suze: myself recommended to you way back when 87 00:06:45,209 --> 00:06:49,920 Suze: and you watched it go down and down and down 88 00:06:50,600 --> 00:06:55,799 Suze: and now you're still writing me saying, Suze, do you 89 00:06:55,809 --> 00:06:59,238 Suze: think I should get rid of it? I'm just hoping 90 00:06:59,250 --> 00:07:04,380 Suze: that it will go back up. Why? Especially if it's 91 00:07:04,390 --> 00:07:06,618 Suze: outside of a retirement account. 92 00:07:07,600 --> 00:07:12,390 Suze: Why in the world would you just let it go 93 00:07:12,500 --> 00:07:17,750 Suze: and take the loss off of your taxes or take 94 00:07:17,760 --> 00:07:20,779 Suze: the loss to offset some gain? 95 00:07:21,559 --> 00:07:23,899 Suze: Why wouldn't you do that? 96 00:07:24,820 --> 00:07:29,260 Suze: But no, you can't let go. You don't wanna let 97 00:07:29,269 --> 00:07:32,959 Suze: go because you liked it. I told you to buy 98 00:07:32,970 --> 00:07:36,359 Suze: it and I was as wrong as I could possibly be, 99 00:07:36,859 --> 00:07:40,359 Suze: but you're still holding on to it. 100 00:07:41,769 --> 00:07:45,149 Suze: There are so many things in your life 101 00:07:46,350 --> 00:07:51,839 Suze: that when you look at it, you just won't let go. 102 00:07:52,429 --> 00:07:56,220 Suze: You know, many, many years ago, it was May 10th, 103 00:07:56,230 --> 00:08:00,299 Suze: 1998 to be exact and I'll never forget that date 104 00:08:00,309 --> 00:08:03,859 Suze: as long as I live and it was my second 105 00:08:03,869 --> 00:08:06,820 Suze: time on the Oprah Winfrey show 106 00:08:07,690 --> 00:08:11,190 Suze: and I may have told you this story before, but 107 00:08:11,200 --> 00:08:15,470 Suze: it's ok, won't kill you to hear it again. And 108 00:08:15,480 --> 00:08:19,209 Suze: my job was simply to go there and say a 109 00:08:19,220 --> 00:08:22,269 Suze: few words. I wasn't even gonna go on to the stage. 110 00:08:22,279 --> 00:08:25,029 Suze: She was gonna ask me a question from the stage 111 00:08:25,190 --> 00:08:27,989 Suze: and from my seat in the audience, I was supposed 112 00:08:28,000 --> 00:08:28,989 Suze: to answer it. 113 00:08:30,200 --> 00:08:35,070 Suze: And this was a show about all these kids who 114 00:08:35,080 --> 00:08:37,609 Suze: had credit card debt 115 00:08:38,669 --> 00:08:41,869 Suze: and why do they have debt? Why did they get 116 00:08:41,880 --> 00:08:45,280 Suze: into debt? All of these things and their total debt, 117 00:08:45,289 --> 00:08:46,599 Suze: believe it or not 118 00:08:47,390 --> 00:08:54,689 Suze: totaled a quarter million dollars. So it was a big deal. 119 00:08:55,349 --> 00:09:00,848 Suze: So the show starts, Oprah introduces everybody that's on stage 120 00:09:00,859 --> 00:09:03,690 Suze: with her, all the kids, their parents that are in 121 00:09:03,700 --> 00:09:04,849 Suze: the audience 122 00:09:05,650 --> 00:09:08,390 Suze: and then she looks over at me 123 00:09:09,059 --> 00:09:13,439 Suze: and she says, Suze, would you like to take over 124 00:09:13,450 --> 00:09:14,718 Suze: the entire show? 125 00:09:15,729 --> 00:09:19,030 Suze: And out of my mouth comes these words, you bet 126 00:09:19,039 --> 00:09:22,309 Suze: I would she OK. Come on up here. Then 127 00:09:23,000 --> 00:09:26,299 Suze: I had already been miked. So that when she asked 128 00:09:26,309 --> 00:09:28,739 Suze: me a question, everybody could hear what I was going 129 00:09:28,750 --> 00:09:33,069 Suze: to say. And the mics when you're miked on a show, 130 00:09:33,080 --> 00:09:35,719 Suze: they're all wireless so that you can walk around and 131 00:09:35,729 --> 00:09:39,780 Suze: you're not attached to anything. So she walks off the stage, 132 00:09:39,789 --> 00:09:44,539 Suze: sits in my seat, gives me high five sign and 133 00:09:44,549 --> 00:09:46,209 Suze: I walk on the stage 134 00:09:46,690 --> 00:09:51,109 Suze: and start talking about debt, talking to these kids and 135 00:09:51,119 --> 00:09:52,969 Suze: everything about it. 136 00:09:53,780 --> 00:09:57,599 Suze: And then at one point I started to talk to 137 00:09:57,609 --> 00:10:02,559 Suze: the parents because it's obvious that if the kids have debt, 138 00:10:03,219 --> 00:10:06,390 Suze: I'm sure that the parents had debt as well. 139 00:10:07,130 --> 00:10:10,280 Suze: And I found myself saying to the parents as well 140 00:10:10,289 --> 00:10:13,429 Suze: as the millions of people. I'm sure that were watching 141 00:10:13,440 --> 00:10:14,190 Suze: that day. 142 00:10:15,049 --> 00:10:19,150 Suze: I found myself saying something to the effect of 143 00:10:20,719 --> 00:10:25,270 Suze: you. Hold on so tightly to the little amount of 144 00:10:25,280 --> 00:10:27,979 Suze: money that you have. I want all of you right 145 00:10:27,989 --> 00:10:31,140 Suze: now to make a fist, make a fist. 146 00:10:31,900 --> 00:10:36,119 Suze: Because when you have a fist, it's, you're not letting go, 147 00:10:36,570 --> 00:10:40,228 Suze: you're not letting go, your hands are closed. 148 00:10:41,059 --> 00:10:45,280 Suze: And I was saying you all hold on so tightly 149 00:10:45,289 --> 00:10:48,719 Suze: squeeze those hands. Everybody to the little amount that you 150 00:10:48,729 --> 00:10:50,039 Suze: think you have, 151 00:10:51,380 --> 00:10:56,559 Suze: your hands aren't open to receive that which is meant 152 00:10:56,570 --> 00:10:59,440 Suze: to come your way. 153 00:11:00,820 --> 00:11:04,440 Suze: And I mean that from the bottom of my heart, 154 00:11:04,969 --> 00:11:09,000 Suze: when you can't let go of clothes that you don't 155 00:11:09,010 --> 00:11:13,159 Suze: need or that don't fit you anymore. If you can't 156 00:11:13,169 --> 00:11:18,069 Suze: let go of a bad relationship, if you can't let 157 00:11:18,080 --> 00:11:22,218 Suze: go of a portfolio that your deceased spouse left to 158 00:11:22,229 --> 00:11:25,159 Suze: you just because it was theirs. 159 00:11:25,479 --> 00:11:29,968 Suze: If you can't let go of wrong purchases of stocks 160 00:11:30,250 --> 00:11:35,219 Suze: of ETFs, then if you simply let go, your hands 161 00:11:35,229 --> 00:11:39,059 Suze: would be open for you then to buy other stocks 162 00:11:39,070 --> 00:11:42,460 Suze: and other ETF s that are the correct ones to 163 00:11:42,469 --> 00:11:45,500 Suze: be in right now and to be able to dollar 164 00:11:45,510 --> 00:11:50,659 Suze: cost average into them. But if you can't let go, 165 00:11:51,510 --> 00:11:52,820 Suze: you're stuck, 166 00:11:53,950 --> 00:11:55,520 Suze: you're just stuck 167 00:11:56,479 --> 00:12:00,640 Suze: because you can't then go anywhere 168 00:12:01,479 --> 00:12:05,429 Suze: and you have rendered yourself powerless whether you know it 169 00:12:05,440 --> 00:12:06,140 Suze: or not. 170 00:12:06,799 --> 00:12:11,609 Suze: And when it comes to money, especially if you have debt, 171 00:12:13,380 --> 00:12:16,080 Suze: the way that you have to force the opening of 172 00:12:16,090 --> 00:12:19,429 Suze: your hands because I'm telling you you won't do it. 173 00:12:20,299 --> 00:12:24,000 Suze: But the way to force the opening of your hands 174 00:12:24,849 --> 00:12:28,299 Suze: is to make an offering. And I've said this before, 175 00:12:28,309 --> 00:12:31,330 Suze: but I think it's important to say this again to 176 00:12:31,340 --> 00:12:35,429 Suze: make an offering to a nonprofit or a place of 177 00:12:35,440 --> 00:12:40,468 Suze: worship of your choice. I don't care if it's a dollar. 178 00:12:40,710 --> 00:12:44,340 Suze: I don't care if it's $5. I don't care the amount, 179 00:12:44,679 --> 00:12:48,098 Suze: but it's got to be an amount that stretches you 180 00:12:48,109 --> 00:12:49,510 Suze: just a little bit. 181 00:12:50,799 --> 00:12:57,409 Suze: If in fact, all you can afford is 50 cents fine. 182 00:12:58,039 --> 00:12:59,559 Suze: That's what you should do. 183 00:13:00,250 --> 00:13:03,989 Suze: Because once you're able to open the hands, 184 00:13:05,200 --> 00:13:08,280 Suze: to receive that, which is meant to come your way. 185 00:13:08,289 --> 00:13:10,979 Suze: You're now open rather than closed, 186 00:13:12,500 --> 00:13:13,718 Suze: open your hands. 187 00:13:14,960 --> 00:13:20,919 Suze: You now feel powerful. And when you feel powerful in life, 188 00:13:20,929 --> 00:13:26,479 Suze: that is when you make decisions that are good for you. 189 00:13:27,109 --> 00:13:30,039 Suze: And how many times have I said to you that 190 00:13:30,049 --> 00:13:34,728 Suze: you and your money are one, your money cannot do 191 00:13:34,739 --> 00:13:40,199 Suze: anything without you, you are the ones that decided with 192 00:13:40,210 --> 00:13:43,080 Suze: me even telling you, but you decided to take my 193 00:13:43,090 --> 00:13:43,919 Suze: advice there 194 00:13:44,299 --> 00:13:49,070 Suze: to buy that one. ETF that wasn't good. He also 195 00:13:49,080 --> 00:13:52,119 Suze: hopefully took my advice and bought a lot more that 196 00:13:52,130 --> 00:13:55,510 Suze: all were not just good. That worked really great to 197 00:13:55,520 --> 00:13:58,669 Suze: tell you the truth. But once in a while, everyone 198 00:13:58,679 --> 00:14:02,929 Suze: makes a mistake, including me. And so you have to 199 00:14:02,940 --> 00:14:05,729 Suze: feel it in your gut to do it. And sometimes 200 00:14:05,739 --> 00:14:08,679 Suze: when I tell you to do something, you have to 201 00:14:08,690 --> 00:14:13,400 Suze: just let it go because it's not necessarily ok for you. 202 00:14:14,039 --> 00:14:18,728 Suze: But when you feel powerful, then you have the ability 203 00:14:18,739 --> 00:14:21,690 Suze: to let go of something that you're afraid 204 00:14:22,969 --> 00:14:26,020 Suze: to let go of because you hope that it will 205 00:14:26,030 --> 00:14:27,169 Suze: be ok. 206 00:14:28,049 --> 00:14:31,460 Suze: You also have to let go of fear and a 207 00:14:31,469 --> 00:14:34,669 Suze: lot of you responded so sweetly and thank you so 208 00:14:34,679 --> 00:14:40,450 Suze: much to last Thursday's podcast where KT told all of 209 00:14:40,460 --> 00:14:43,330 Suze: you about how afraid I was and I cried like 210 00:14:43,340 --> 00:14:46,700 Suze: a baby, which I did, man. That was a big cry. 211 00:14:47,169 --> 00:14:50,270 Suze: Do you know the type of cry that's like anyway, 212 00:14:50,280 --> 00:14:54,099 Suze: that was something you guys. And so all of a 213 00:14:54,109 --> 00:14:57,710 Suze: sudden I let go, I just did it, 214 00:14:58,109 --> 00:15:02,570 Suze: I opened my hands and I did it then on 215 00:15:02,580 --> 00:15:07,969 Suze: last Thursday, Saltwater Day, I went in the ocean again 216 00:15:09,159 --> 00:15:11,859 Suze: and then came Friday 217 00:15:12,979 --> 00:15:14,940 Suze: and I didn't go in the ocean because it was 218 00:15:14,950 --> 00:15:18,969 Suze: too rough because the storm Ernesto that's not that far 219 00:15:18,979 --> 00:15:21,799 Suze: from here, but far enough from here is stirring up 220 00:15:21,809 --> 00:15:25,479 Suze: the ocean. I said no, I don't want to. Now, 221 00:15:25,489 --> 00:15:29,570 Suze: KT went in but I said no. And why wasn't? 222 00:15:29,580 --> 00:15:34,239 Suze: Because I was afraid it was because it wasn't right 223 00:15:34,250 --> 00:15:39,109 Suze: for me. It didn't make me feel powerful. I already knew. 224 00:15:39,119 --> 00:15:41,559 Suze: At that point. I had what it took to go 225 00:15:41,570 --> 00:15:42,710 Suze: back in the ocean, 226 00:15:43,349 --> 00:15:47,000 Suze: but I'm only gonna go in the ocean when I 227 00:15:47,010 --> 00:15:50,890 Suze: feel secure and it looks like it's an ocean that 228 00:15:50,900 --> 00:15:52,210 Suze: I can handle. 229 00:15:53,289 --> 00:15:56,830 Suze: So then I had to let go of the expectation 230 00:15:57,090 --> 00:16:00,429 Suze: that I'm gonna go in the ocean every time KT says, 231 00:16:00,440 --> 00:16:04,169 Suze: let's go in the ocean. And I said no, because 232 00:16:04,179 --> 00:16:06,390 Suze: it wasn't right for me. 233 00:16:07,619 --> 00:16:14,719 Suze: So today's podcast, I'm doing this topic because there's going 234 00:16:14,729 --> 00:16:20,039 Suze: to be times here when really you need to let 235 00:16:20,270 --> 00:16:21,000 Suze: go 236 00:16:21,979 --> 00:16:26,830 Suze: and it's really not that hard. Now, all of you 237 00:16:26,840 --> 00:16:31,750 Suze: are going to have to decide how do you let go. 238 00:16:32,309 --> 00:16:38,039 Suze: But one exercise that may help you is an exercise 239 00:16:38,049 --> 00:16:40,599 Suze: that I've always told you about when it comes to 240 00:16:40,609 --> 00:16:42,150 Suze: spending money. 241 00:16:43,099 --> 00:16:49,080 Suze: And that exercise was before you ever buy something. Ask yourself, 242 00:16:49,090 --> 00:16:51,710 Suze: is this a need or is this a want? 243 00:16:52,640 --> 00:16:55,760 Suze: And if it's a want, just let it go and 244 00:16:55,770 --> 00:17:00,179 Suze: if it's a need, you obviously have to do it. Now, 245 00:17:00,190 --> 00:17:03,070 Suze: one last thing that a lot of you tell me 246 00:17:03,090 --> 00:17:05,979 Suze: is the hardest thing to let go of, and it 247 00:17:05,989 --> 00:17:08,139 Suze: has to do with money 248 00:17:09,300 --> 00:17:14,319 Suze: is you just can't let go of going out to 249 00:17:14,329 --> 00:17:18,959 Suze: eat and getting your favorite food. You can't let go 250 00:17:18,969 --> 00:17:22,479 Suze: of going to a fast food place and getting pizza 251 00:17:22,500 --> 00:17:27,640 Suze: at least once a week. You can't let go of 252 00:17:27,650 --> 00:17:31,619 Suze: certain habits like that and you don't wanna let them 253 00:17:31,630 --> 00:17:35,260 Suze: go because they bring you such enjoyment. 254 00:17:35,930 --> 00:17:39,150 Suze: But if you're out there and you're doing those things 255 00:17:39,160 --> 00:17:41,780 Suze: and you don't have an eight month to 12 month 256 00:17:41,790 --> 00:17:42,839 Suze: emergency fund. 257 00:17:43,640 --> 00:17:48,280 Suze: If you don't have credit cards that have absolutely zero 258 00:17:48,290 --> 00:17:51,949 Suze: debt on them, then I'm here to tell you, you 259 00:17:51,959 --> 00:17:56,379 Suze: can't afford not to let go of those habits. 260 00:17:57,209 --> 00:18:00,510 Suze: So, I'd like you to just do one thing. 261 00:18:01,189 --> 00:18:03,310 Suze: You know, when we were on the Oprah Winfrey show, 262 00:18:03,319 --> 00:18:06,179 Suze: Dr Oz always used to say all you have to 263 00:18:06,189 --> 00:18:11,228 Suze: do is stop doing something for 21 days. And if 264 00:18:11,239 --> 00:18:16,390 Suze: you stop doing something for 21 days, it will now 265 00:18:16,400 --> 00:18:20,659 Suze: break the habit and you'll be able to let go. 266 00:18:21,310 --> 00:18:25,569 Suze: So for today's Suze School, I would like you to right now, 267 00:18:27,209 --> 00:18:32,430 Suze: write down just one thing you want to let go 268 00:18:32,439 --> 00:18:34,709 Suze: of one habit, 269 00:18:35,670 --> 00:18:37,050 Suze: one fear, 270 00:18:38,000 --> 00:18:42,280 Suze: one piece of clothing that you love, but you haven't worn, 271 00:18:42,979 --> 00:18:46,939 Suze: what is just one thing that you want to let 272 00:18:46,949 --> 00:18:49,000 Suze: go of and write it down? 273 00:18:50,050 --> 00:18:53,869 Suze: I would love for a lot of you who don't 274 00:18:53,880 --> 00:18:57,780 Suze: have an 8 to 12 month emergency fund or you 275 00:18:57,790 --> 00:18:59,739 Suze: have credit card debt. 276 00:19:00,989 --> 00:19:05,649 Suze: I would like you to let go of eating out 277 00:19:05,699 --> 00:19:09,530 Suze: for at least 21 days. 278 00:19:10,219 --> 00:19:15,879 Suze: I would want you to let go of ordering anything 279 00:19:15,890 --> 00:19:17,239 Suze: online 280 00:19:18,030 --> 00:19:25,448 Suze: for 21 days. That's a want versus a need just 281 00:19:25,459 --> 00:19:28,349 Suze: 21 days 282 00:19:30,060 --> 00:19:36,159 Suze: and see what happens. But it's important to let go. 283 00:19:37,469 --> 00:19:40,958 Suze: Now, I do just want to end the podcast with 284 00:19:40,969 --> 00:19:46,819 Suze: going back to last Thursday's podcast because towards the end 285 00:19:46,829 --> 00:19:51,229 Suze: of last Thursday's podcast, KT and she thought she was 286 00:19:51,239 --> 00:19:53,609 Suze: so cute, she thought she was so cute when she 287 00:19:53,619 --> 00:19:56,810 Suze: was doing this, read me an email from a woman 288 00:19:56,819 --> 00:20:02,410 Suze: by the name of Teresa who had purchased an ETF 289 00:20:02,420 --> 00:20:05,569 Suze: that was made up of all semiconductors. 290 00:20:06,140 --> 00:20:11,919 Suze: And she said essentially this ETF stinks 291 00:20:13,079 --> 00:20:16,989 Suze: and it was almost as saying she so much hated 292 00:20:17,109 --> 00:20:20,140 Suze: that she purchased it because I probably said it and 293 00:20:20,150 --> 00:20:23,329 Suze: she probably heard it. That's why she wrote me. So 294 00:20:23,339 --> 00:20:27,540 Suze: at that time, I did a perfect example of why 295 00:20:27,550 --> 00:20:31,469 Suze: dollar cost averaging just makes so much sense and why 296 00:20:31,479 --> 00:20:35,849 Suze: you should never ever purchase a stock or an ETF 297 00:20:35,859 --> 00:20:37,770 Suze: in one lump sum. I don't care if it's going 298 00:20:37,780 --> 00:20:41,099 Suze: up or going down, things always go down. 299 00:20:41,640 --> 00:20:43,979 Suze: And I told her all about that. 300 00:20:45,020 --> 00:20:49,469 Suze: And at the time of last Thursday's podcast, when we 301 00:20:49,479 --> 00:20:57,880 Suze: recorded it, the ETF SMH was at $236 a share. Ok? 302 00:20:57,969 --> 00:20:58,959 Suze: Not so bad 303 00:20:59,880 --> 00:21:02,949 Suze: At one point. Just a few weeks before that, it 304 00:21:02,959 --> 00:21:06,030 Suze: was down to like 205 during one day. 305 00:21:06,660 --> 00:21:10,050 Suze: So it was at 236 that day. And essentially what 306 00:21:10,060 --> 00:21:13,270 Suze: I said to Teresa, if she hates that stock so much, 307 00:21:13,280 --> 00:21:16,040 Suze: just sell it, then just sell it. 308 00:21:17,000 --> 00:21:19,839 Suze: But the very next day on Friday, 309 00:21:20,920 --> 00:21:29,149 Suze: it closed at 246. Not so bad, really, not so bad. 310 00:21:29,359 --> 00:21:33,698 Suze: So again, I just want to point out when things move, 311 00:21:33,709 --> 00:21:38,270 Suze: especially in the area of semiconductor stocks, 312 00:21:38,939 --> 00:21:45,359 Suze: they can move very, very quickly in both directions. Therefore, 313 00:21:45,739 --> 00:21:47,909 Suze: if you enter into that arena, 314 00:21:48,640 --> 00:21:52,020 Suze: you need time for it to go up and go 315 00:21:52,030 --> 00:21:55,300 Suze: all the way back down, which they absolutely can and 316 00:21:55,310 --> 00:21:59,319 Suze: go back up again. You need time and I would 317 00:21:59,329 --> 00:22:04,139 Suze: hope you would give yourself at least 3 to 5 years, 318 00:22:04,150 --> 00:22:06,979 Suze: if not longer. Maybe the rest of your life that 319 00:22:06,989 --> 00:22:10,729 Suze: you just stick with the stocks that are going to 320 00:22:10,739 --> 00:22:12,219 Suze: change this world, 321 00:22:12,760 --> 00:22:17,020 Suze: our leaders in the field have great management and in 322 00:22:17,030 --> 00:22:20,659 Suze: the end can make you a lot of money. I 323 00:22:20,670 --> 00:22:24,780 Suze: just have to say one other thing here and that 324 00:22:24,790 --> 00:22:28,699 Suze: is so many people wrote and said, Suze, 325 00:22:29,339 --> 00:22:34,310 Suze: how is it possible that your favorite stock could be Apple? 326 00:22:35,119 --> 00:22:40,550 Suze: Didn't you read that? Warren Buffett, the greatest investor of 327 00:22:40,560 --> 00:22:45,109 Suze: all time... and he most certainly is... he sold half 328 00:22:45,119 --> 00:22:49,589 Suze: of his position. Why in the world, Suze would you 329 00:22:49,599 --> 00:22:54,910 Suze: be telling us to buy Apple and tell everybody out 330 00:22:54,920 --> 00:22:58,199 Suze: of all the stocks out there that Apple is your 331 00:22:58,209 --> 00:23:04,510 Suze: favorite stock. When Warren Buffett just sold half of his position. 332 00:23:06,130 --> 00:23:10,819 Suze: Can we get a clue here, people? Did ever dawn 333 00:23:10,829 --> 00:23:15,589 Suze: on you that maybe Warren Buffett sold half of his 334 00:23:15,599 --> 00:23:16,679 Suze: position 335 00:23:17,479 --> 00:23:23,139 Suze: because he owned 800 million shares of Apple 336 00:23:23,939 --> 00:23:27,300 Suze: and Apple and Coca Cola were like two of his 337 00:23:27,310 --> 00:23:32,718 Suze: biggest positions and he sold 400 million shares because it 338 00:23:32,729 --> 00:23:35,699 Suze: had gotten way out of whack. And so now he 339 00:23:35,709 --> 00:23:40,359 Suze: has 400 million shares left and that happens to be 340 00:23:40,369 --> 00:23:43,959 Suze: how many shares he has of Coca Cola. By the way, 341 00:23:45,000 --> 00:23:49,060 Suze: he didn't sell the stock as he didn't like the stock. 342 00:23:49,530 --> 00:23:54,219 Suze: He was obviously rebalancing all the money so that he 343 00:23:54,229 --> 00:23:57,209 Suze: could free up some money to maybe leave it in 344 00:23:57,219 --> 00:24:01,650 Suze: cash but do other things with it just so, you know, 345 00:24:01,660 --> 00:24:05,829 Suze: when he sold half of his position, Apple was at 346 00:24:05,839 --> 00:24:09,180 Suze: about 207 to 210 right in there 347 00:24:09,989 --> 00:24:12,099 Suze: Friday nights close, 348 00:24:12,959 --> 00:24:17,000 Suze: Apple was at 226 349 00:24:18,349 --> 00:24:23,650 Suze: to 26. Do the math on that going up 16 350 00:24:23,660 --> 00:24:30,409 Suze: points approximately from where he sold hundreds of millions of shares. Really? Everybody. 351 00:24:31,329 --> 00:24:35,469 Suze: So can you just not look at what somebody else 352 00:24:35,479 --> 00:24:36,310 Suze: does 353 00:24:37,079 --> 00:24:39,609 Suze: and think? Oh my God, I can't buy Apple, I 354 00:24:39,619 --> 00:24:43,280 Suze: can't do that. By the way, I happen to recommend 355 00:24:43,290 --> 00:24:46,119 Suze: it to you when it was at 207 just so, 356 00:24:46,130 --> 00:24:51,300 Suze: you know. Yes, Apple is still my favorite stock. I 357 00:24:51,310 --> 00:24:53,469 Suze: don't care if it goes down. I don't care if 358 00:24:53,479 --> 00:24:56,849 Suze: it goes sideways. But in the long run, it is 359 00:24:56,859 --> 00:25:01,280 Suze: my favorite stock along with Keith Fitzgerald's pick Palantir, 360 00:25:02,550 --> 00:25:06,729 Suze: which we started to buy at seven. And for those 361 00:25:06,739 --> 00:25:09,448 Suze: of you who are lucky enough to follow along with 362 00:25:09,459 --> 00:25:14,489 Suze: that pick, which I told you about Palantir is now 363 00:25:14,500 --> 00:25:19,500 Suze: at $32 a share. We'll do the math on that 364 00:25:19,800 --> 00:25:22,349 Suze: 7 to 32. 365 00:25:23,160 --> 00:25:28,958 Suze: That's a huge, huge gain that even Keith will tell 366 00:25:28,969 --> 00:25:32,859 Suze: you that when a stock doubles. So when it got 367 00:25:32,869 --> 00:25:36,939 Suze: to 14, he tells everybody to do what's called a 368 00:25:36,949 --> 00:25:41,310 Suze: free trade so that you take out the amount of 369 00:25:41,319 --> 00:25:46,010 Suze: money that you originally invested to invest in something else 370 00:25:46,020 --> 00:25:47,260 Suze: and then let it go 371 00:25:47,890 --> 00:25:51,829 Suze: and you keep doing that so that you have diversification 372 00:25:51,839 --> 00:25:55,069 Suze: in it and you make money that way. 373 00:25:55,859 --> 00:25:59,790 Suze: So he has what it takes to tell people to 374 00:25:59,800 --> 00:26:04,459 Suze: let go, even if you think a stock is going higher. 375 00:26:04,469 --> 00:26:07,189 Suze: And by the way, he thinks that stock is going 376 00:26:07,199 --> 00:26:08,780 Suze: to $50 a share. 377 00:26:09,520 --> 00:26:12,129 Suze: Will it go down before then? Maybe? 378 00:26:12,849 --> 00:26:17,560 Suze: But possibly we'll even go to 85. Who knows? And 379 00:26:17,569 --> 00:26:19,948 Suze: for those of you, it's so sweet on the board. 380 00:26:20,050 --> 00:26:22,909 Suze: You're a little worried about our Keith because you haven't 381 00:26:22,920 --> 00:26:25,430 Suze: gotten your Five with Fitz or heard from him. 382 00:26:25,900 --> 00:26:32,479 Suze: He's taking his motorcycle with his wife and they're driving 383 00:26:32,489 --> 00:26:36,198 Suze: somewhere to do some talk or something and he's sending 384 00:26:36,209 --> 00:26:39,750 Suze: me pictures all the time of the food they're eating 385 00:26:39,760 --> 00:26:42,719 Suze: and this and that. They're having a fabulous time. A 386 00:26:42,729 --> 00:26:46,280 Suze: little vacation mixed in with a little work. Don't worry 387 00:26:46,290 --> 00:26:48,919 Suze: about him. And for those of you who aren't getting 388 00:26:48,930 --> 00:26:53,430 Suze: notifications from the Women and Money app, why don't you 389 00:26:53,439 --> 00:26:55,079 Suze: just get rid of the app? 390 00:26:55,359 --> 00:26:59,140 Suze: Upload it again. Sign in again and I bet you'll 391 00:26:59,150 --> 00:27:06,199 Suze: start to get notifications once again. All right. Well, 392 00:27:07,140 --> 00:27:09,339 Suze: what do we think? Are you gonna let go? 393 00:27:10,040 --> 00:27:11,938 Suze: Well, I'll tell you what, I'm gonna let go of. 394 00:27:11,949 --> 00:27:15,649 Suze: I'm gonna let go of this podcast right here and 395 00:27:15,660 --> 00:27:19,119 Suze: right now so I can go join Miss Travis in 396 00:27:19,130 --> 00:27:22,119 Suze: the other room and have some coffee. I don't know 397 00:27:22,130 --> 00:27:25,050 Suze: what I'm gonna eat today every day. She says, what 398 00:27:25,060 --> 00:27:26,609 Suze: do you want to eat? What do you want to eat? 399 00:27:26,959 --> 00:27:29,709 Suze: And for some reason I just haven't been interested in 400 00:27:29,719 --> 00:27:32,949 Suze: eating and it's a very difficult thing to do with 401 00:27:32,959 --> 00:27:36,069 Suze: KT because she spends all this time setting a proper 402 00:27:36,079 --> 00:27:41,030 Suze: table and making her presentation so elaborate. And then you 403 00:27:41,040 --> 00:27:42,880 Suze: sit down if you only eat a little bit, she 404 00:27:42,890 --> 00:27:46,270 Suze: gives you one of those little puppy dog eyes. Like, really? 405 00:27:46,280 --> 00:27:49,160 Suze: I put all this energy into it, but my stomach 406 00:27:49,275 --> 00:27:51,824 Suze: isn't as big as it used to be in terms 407 00:27:51,834 --> 00:27:53,435 Suze: of what I can eat and she put so much 408 00:27:53,444 --> 00:27:55,474 Suze: on the plate. But anyway, you don't care about any 409 00:27:55,484 --> 00:27:57,334 Suze: of that. So you do want me to let this 410 00:27:57,344 --> 00:27:59,505 Suze: podcast go. So there's only one thing that I want 411 00:27:59,515 --> 00:28:02,015 Suze: you to remember when it comes to your money and 412 00:28:02,025 --> 00:28:06,515 Suze: it is this people first, then money, then things and 413 00:28:06,525 --> 00:28:11,534 Suze: if you let go, you will be unstoppable.