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Suze: October 26, 2025. Welcome to the Women and Money podcast

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Suze: vacation edition. It's the vacation edition because...

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KT: That's great. I love that.

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Suze: Because KT and I are on vacation right now as

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Suze: you're listening, in Italy, we have 4 days...

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KT: Painting and eating...

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Suze: ...left, before we back and that's what we're assuming we're

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Suze: doing anyway so we're doing another ask KT and Suze

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Suze: Anything

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KT: Sunday...

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Suze: Which by the way, I'm just going to tell all

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Suze: of you I'm really loving because KT, I have to

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Suze: say something.

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Suze: I've done this podcast now for many years without you.

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KT: It's lonely.

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Suze: And not besides the fact that it's lonely, but not

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Suze: so lonely.

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KT: It's lonely.

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Suze: Sometimes you aggravate me, but not really, no, but truthfully

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Suze: I love it when you're doing it with me, and

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Suze: I know there's a lot of people who want the

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Suze: Suze Schools and everything, but honestly, everybody.

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Suze: I don't have many si schools left in me only because,

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Suze: with 700 podcasts...

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Suze: I've taught you a lot that you need to know,

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Suze: and it's already there so unless a new topic comes

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Suze: up that I really want you to know.

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Suze: I think there's a lot to learn from these questions

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Suze: and given that we have thousands of them coming in.

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KT: We try so hard to answer all of you. We

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KT: really want to answer all of you.

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Suze: So just know that may be happening.

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KT: But also I just want to say if a world

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KT: event or something catastrophic may happen.

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KT: And Suze will absolutely jump on and give you every

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KT: bit of advice that she can to help

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KT: you.

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Suze: And the way you'll really know that, by the way,

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Suze: is if you go to YouTube.com/ Suze Orman, my official

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Suze: YouTube channel, because when the government shut down, I immediately

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Suze: went there.

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Suze: And I did a little five minute video saying exactly

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Suze: what you should do and everything because it wasn't a

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Suze: day that the podcast would drop.

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KT: Thousands of people listen to that.

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Suze: Well, they did not so many, I think 80,000 or

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Suze: something like that.

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Suze: But the first one I did, KT, really with the

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Suze: tariff 630,000. But anyway, that's because people were really afraid.

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Suze: They weren't so afraid when the government shut down and

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Suze: it didn't affect everybody, or so they thought. But anyway,

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Suze: go there and subscribe so you'll know

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Suze: when I do something, especially when it's live. All right, KT.

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KT: So my first question is from Bernadette. She said, Suze,

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KT: what are the steps for creating a separate trust if

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KT: a marriage is in jeopardy or dissolving and a joint

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KT: trust had already been created? Must a divorce be finalized first? Hmm,

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KT: my concern is that anything can happen at any time.

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KT: She's nervous.

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Suze: I know I read this one and answered.

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KT: Oh well, what, what tell everyone listening what to do.

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KT: I'm sure there's a lot of people in that same

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KT: situation

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Suze: When I read an email like this, and Bernadette knows

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Suze: I answered her. Of course I'm going to send an

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Suze: email to her directly only because I don't know if

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Suze: she's going to listen to the podcast and hear the answer.

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Suze: Right, so therefore, here's what I told Bernadette. You absolutely

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Suze: can create a separate trust, and you should create a

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Suze: separate trust prior to your divorce. You should fund the trust.

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Suze: Just make sure that you don't take marital assets, and

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Suze: you should absolutely do it before

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Suze: you are divorced, just that simple. After you actually go

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Suze: and get divorced and start that proceedings, you might not

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Suze: be able to do it. So do it now. That

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Suze: was a short version of what I told her to do.

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KT: But then what happens with the joint trust?

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Suze: The joint trust will then get dissolved after she's divorced.

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KT: After the divorce.

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Suze: Absolutely. All right.

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KT: OK, that sounds easy, but it's still a little scary.

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KT: So Rachel, Rachel's asking about VOO.

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Suze: You know what scares you about that?

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KT: What?

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Suze: Because you can never imagine us divorced.

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KT: We have separate trust number one.

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Suze: Yes, that's one of the reasons, right? Just in case

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Suze: I was stupid enough to ever want to do something, right?

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Suze: But it's hard for you. I can see when you

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Suze: read me emails like that, it's hard for you when

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Suze: you see that somebody is separating or divorcing. It doesn't

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Suze: quite sit well with you.

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KT: Never, um.

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KT: Because you, you, you just don't know about the what

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KT: ifs of life. And even though you and I are

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KT: so 100% solid and connected, you just never know about

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KT: the what ifs, which is why Suze has actually established

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KT: for us and especially for me, everything that would legally

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KT: protect me, as she said in the event that she

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KT: was so stupid to want to divorce me.

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KT: Right, yeah, but it's true...

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Suze: In KT's name like the island is all in KT's name,

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Suze: an incredibly valuable asset, incredibly everybody. I want to know

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Suze: that she's OK no matter what. All right.

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KT: All right. Next, thank you, Suze.

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Suze: You're welcome, KT. Oh, KT, let me have the boat though.

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Suze: The boat's in my name. That's OK. No problem.

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KT: Little boat, how many years old? Over 10. Like our,

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KT: our car, the car is Suze's car and she doesn't

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KT: want to sell it. She loves that car. It's 12 years old.

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Suze: No, it is not.

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KT: How old is it?

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Suze: 14.

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KT: Oh 14 years old, that thing. We love that little car.

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KT: And it has like 55,000 miles on it.

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Suze: I just can't selling it and and buying what?.

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KT: Gonna keep it. OK, next question is from Rachel. Hi

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KT: KT and Susie. I love VOO as much as Suze,

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KT: but I'm worried that the top 10 stocks now make up 38%.

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Suze: Yes, that's why I like VOO.

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KT: It seems I'm buying the S&P 10 rather than the

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KT: S&P 500.

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Suze: Yes.

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KT: Suze, what do you recommend for us to keep diversified

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KT: when we own mostly VOO?

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Suze: The way things work today, the markets, it's very different

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Suze: than how it worked years and years and years ago.

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Suze: Not only do I love, which is why I chose VOO.

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Suze: And also because of its small expense ratio that the

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Suze: top 10 stocks now make up 38% of it. And

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Suze: if you really look at the Spiders or VTI, whatever

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Suze: it may be, the top 10 stocks are all the same.

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Suze: They're all the same. Everybody is in AI.

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Suze: But not only do I love that you have VOO,

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Suze: but I would actually, besides VOO, have you even more

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Suze: heavy weighted in those stocks and have you buy even

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Suze: more of them on an individual basis. So a lot

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Suze: of times when a friend or somebody asks me what

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Suze: should I invest in or what should I do, I'll say,

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Suze: all right, let's put 50% of your money in VOO.

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Suze: And then let's buy Nvidia, AMD, Palantir, IONQ, Iit, and

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Suze: all of those. So I'm actually even making it more

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Suze: heavy weighted in those stocks than just what VOO has done.

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Suze: So I have to tell you I don't have a

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Suze: problem with it at all. Diversification, not in the right

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Suze: sector will leave a lot of money on the table

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Suze: in these kinds of markets. Which is why

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Suze: I switched from the VTI, the Vanguard Total Stock Market Index,

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Suze: to Vu because I wanted more concentration in those top 10 stocks.

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KT: Tell everyone what VOO means, what it stands for.

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Suze: It's just the Vanguard Standard and Poor's 500 ETF. Just

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Suze: that simple.

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KT: All right. Next question is from Darlene. The subject in

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KT: Darlene's email said, I really need her advice.

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KT: And I'm going to say, Suze, I really need to

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KT: know more about Darlene. Are you ready? She said, I

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KT: will be 67 in April 2026. No mortgage, no debts,

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KT: no car loan. I have an emergency fund, a 403B,

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KT: and a Roth IRA. I want to retire in May 2026.

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KT: Can I do that?

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KT: So Darlene gives us all this information, but never a

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KT: dollar amount against it. All I know is she's going

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KT: to be 67.

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Suze: So why did you pick it?

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KT: Because it's too short. So I need everyone that's listening

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KT: to know.

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KT: that when you send me an email that says, I

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KT: really need her advice, she's not going to be able

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KT: to give you any advice unless you fill in the blanks.

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Suze: So here's the thing, everybody, KT's correct. More than what

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Suze: you have, I need to know.

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Suze: What do you spend? What are your expenses? You don't

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Suze: have to itemize them for me. But if Darlene, and

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Suze: we'll just use this as an example of if you

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Suze: want to know something, how it should read. Hi Suze,

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Suze: I'll be 67 in April. Have no mortgage. My house

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Suze: is worth $500,000. I don't have any debts. I don't

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Suze: have a car loan, but

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Suze: I think I may need to buy a car in

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Suze: the next few years. I do have an emergency fund.

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Suze: How much of an emergency fund? I want to know.

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Suze: I have a 12 month emergency fund, then I don't

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Suze: have to worry about you. I have a 403B and

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Suze: a Roth IRA. Well, how much do you have in them?

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Suze: I need to know that. I want to retire in

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Suze: May 2026.

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Suze: I will need X amount of money after tax in

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Suze: order to be able to do so. My Social Security

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Suze: will be x, period.

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Suze: Then I can kind of tell you.

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Suze: Also say, and I'm in good health and I have

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Suze: a long term care insurance policy.

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KT: And you also want to know a little more about Darlene.

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KT: Does she have dependents? Is she married? Is her spouse

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KT: working or not working?

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Suze: Well, the truth is I would just take this one, KT,

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Suze: and assume that she's single with no

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Suze: dependents and she just wants to take care of herself.

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Suze: So that's how you would do it, Darlene. You want

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Suze: to write back and if KT sees it, maybe she'll

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Suze: choose it. All right.

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KT: Fill in the blanks, Darlene. This next question from Liz

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KT: I love makes me laugh, but you got to set

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KT: her son straight. You ready?

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KT: Liz says...

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Suze: I'm gonna like this one art't I?

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KT: Yes, you will. Hi, Suze and KT. You inspired me

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KT: in late 2023 when you spoke to Humana employees. She's

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KT: been with Humana for 13 years.

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KT: You spoke to them, Suze, just so everyone knows about

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KT: having an emergency fund with Secure Save. Susie's one of

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KT: the founders of Secure Save, and it's a great program, uh,

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KT: that she's established.

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Suze: Actually, I just have to say something since you brought

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Suze: that up. So five years ago now, myself and two

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Suze: other people, right, Devin and Bassam, founded a company called

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Suze: Secure Save.

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Suze: And all of you could go to secureave.com/Suze and you'll

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Suze: find out more about it, but it's simply an employer

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Suze: sponsored employee savings plan. So you put in $25 the

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Suze: employer puts in $5 whatever it may be, you have

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Suze: access to that money anytime you want. It is fabulous

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Suze: and it's been very successful. Therefore,

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Suze: if you want your employer to offer it, go to secureSave.com/

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Suze: Suzeorman or just go to secureSave.com and you'll see it there.

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Suze: And if you're an employer and you want to find

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Suze: out more about it, to offer it to your employees,

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Suze: go to those places as

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Suze: well. All right.

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KT: Yeah, because Liz is one happy employee. She said not

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KT: only Suze,

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KT: did you talk to her about an emergency fund with

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KT: Secure Save, but many other important tips like having a

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KT: Roth account. So she's learned so much from you, she said,

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KT: since then I am a devoted listener and taking action

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KT: on so many things you have opened my eyes to.

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KT: I now have a Roth. I save biweekly in Secure Save,

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KT: and I've purchased the must have documents and so much more.

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KT: Here is my question.

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KT: I'm now paying it forward with my four sons with

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KT: all the great info you provide each week on your

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KT: podcast and Ask Suze and KT anything. Connor, age 30,

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KT: doesn't want to use the documents, the must have documents... Ready?

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KT: These are, um, so just so everyone knows they're distributed

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KT: through Hay House, and he's telling me these companies use

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KT: and or sell people's personal information.

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Suze: He's an idiot.

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KT: This is, well, his mom thinks so too, right? So

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KT: he won't do it, unfortunately, he won't listen to me

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KT: on how important those

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KT: documents are and like you have said could be very

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KT: costly elsewhere, but the most important that worries me is

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KT: the fact that if he is incapacitated in some way,

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KT: he should appoint someone to make decisions on his behalf.

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KT: So Connor's single. She said, I know it's his choice

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KT: to make.

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KT: Maybe you could shed some light on Hay House and

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KT: how they handle personal info. Hoping this will knock some

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KT: sense into my son's brain. She said thank you both

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KT: for making my life better now and in my retirement

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KT: years better late than never.

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KT: And that's from Liz. I thought you would love that

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KT: Liz is a Humana employee, and she really, really benefited

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KT: from the talk you gave them almost three years ago now.

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Suze: Yes, a lot of corporations hire me to give talks

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Suze: like that to them.

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Suze: Although I said to KT the other day, KT, what did I say to you?

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KT: She's not sure if she wants to do any more

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KT: speaking engagements, which makes me really sad because she's so great.

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KT: It's the best of Suze you would ever experience is

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KT: in front of a live audience on a stage.

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KT: And I can't begin to tell you how thrilling it

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KT: is because no one ever knows what she's gonna say,

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KT: what mood she's in, how she's gonna, you know, handle

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KT: her audience. It's a big surprise. It's like Christmas every

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KT: time she does these live talks, really, really fun. I

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KT: miss them.

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KT: I always miss them.

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Suze: I tell you one of my favorite sayings? What was

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Suze: was and what was will never be again. So here, Liz,

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Suze: this is what I would say to Conor. Connor, the

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Suze: biggest mistake you will make in life is the mistake

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Suze: you don't even know that you're making. At 30, you

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Suze: think you know so much. You think you know what

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Suze: companies do. Don't you get it, Connor, that Hay House

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Suze: doesn't have a clue

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Suze: what your information is that you put on it, you

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Suze: keep it on your computer, you have it. They don't

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Suze: have any access to it. That's why you create your

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Suze: own passcode.

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Suze: They just give you an activation code. You open up

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Suze: the documents. Then from that point on they are all yours.

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Suze: They know nothing about it. So Liz, first of all,

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Suze: you don't have to worry about it. You don't have

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Suze: to let his fear of the unknown put fear into

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Suze: you of what does Hay House do with all these documents.

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Suze: They don't know. So how many times have we been

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Suze: contacted

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Suze: by a lawyer, seriously that says this person died, her

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Suze: children said that this person did the documents with the

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Suze: must-have documents, but they don't know where they are. Do

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Suze: you have a copy of them? And Hay House has

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Suze: to write back and say, no, we don't have anything.

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Suze: They don't even know if you filled them out or

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Suze: ever used them. So grow up, Conor, seriously.

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Suze: You don't want to do it fine. Go to a

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Suze: lawyer and spend $2,500 or $5,000 or whatever just so

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Suze: you can sit there and let the lawyer know everything

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Suze: that you have. How do you know what the lawyer

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Suze: does with that information? Really, Connor? Just saying. Don't be stupid.

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Suze: You want to be smart.

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Suze: Take advantage of the fact that your mother bought the

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Suze: must-have documents and she is allowed to share them with

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Suze: anybody in her family for absolutely free. You can make changes.

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Suze: Are you kidding me? $2,500 worth of state of the

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Suze: art documents and you don't want to do it.

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Suze: So Liz, here's the other thing I would say...

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KT: Tell everyone how much the must have documents are.

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Suze: They're $99. They are going to go up sometime next year,

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Suze: a considerable amount, by the way, everybody, so you should

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Suze: take advantage of it now. Go to musthavedocs.com, just that simple.

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Suze: Now one other thing, Liz, your fear about if something

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Suze: happens to Connor.

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Suze: And he doesn't have an advanced directive and a durable

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Suze: power of attorney for health care because he is over 18.

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Suze: You cannot help him. So if you want, print out

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Suze: again the documents. He doesn't have to sign the trust.

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Suze: He doesn't do anything but just have him give you

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Suze: the power

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Suze: to make decisions for him if anything were to happen

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Suze: to him. Just that simple. And again, hey, he doesn't

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Suze: trust that. Go to a hospital, go somewhere

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Suze: and get one so that he is protected in case

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Suze: something happens to him.

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KT: This is my final um email. It's from Jean and

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KT: it's a UTMA account. First, Suze, tell everyone what that is.

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Suze: Uniform transfer to minor's account. It can also be a

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Suze: UGMA account with a uniform gift to minor's account.

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KT: All right, so...

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KT: This is from Jean, she said. Dear Suze and KT,

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KT: thank you so much for all of your advice over

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KT: the years. You responded to a question of mine two

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KT: years ago about my plan to use money from my

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KT: Roth to make a down payment on a house for

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KT: my family. You gave me the confidence to go forward

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KT: with a scary but wonderful decision. We are so happy

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KT: in our new home.

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Suze: Love that.

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KT: And now Jean said, I'm writing today to ask for

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KT: some guidance regarding UTMA accounts for my daughters aged 6

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KT: and 8. My husband's great uncle is opening these accounts

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KT: for them this month. I have no idea what the

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KT: dollar amount is going to be, but probably in the

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KT: five to $15,000 range for each of them.

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KT: I did my homework and I know that you don't

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KT: recommend UTMA accounts, but there's no way I will say

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KT: anything about it to my in-laws. The family dynamic will

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KT: not allow it, and my kids are likely to end

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KT: up with nothing if I do so. So ready, but,

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KT: but wait, Jean's really smart here, she said. So given

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KT: what I know, I was thinking I would just

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KT: plan to transfer $2,500 each year into a 529 plan

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KT: for each kid. Can you expand more on what actions

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KT: you would recommend to make the most out of this

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KT: gift to my children?

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Suze: I love that idea. You are so spot on, I

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Suze: have to tell you, to transfer it each year. Now

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Suze: listen to me. First of all....

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Suze: The reason everybody I don't like UTMA or UGMA accounts

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Suze: is that especially if your kid is going to apply

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Suze: for financial aid, it's considered your kid's asset, and it

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Suze: will hurt them for financial aid. A 529 plan does

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Suze: not hurt your child for financial aid. That is why

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Suze: I'd rather you do a 529 plan than a UTMA. However,

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Suze: since Jean can't say anything about it.

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Suze: What you're going to do is you're going to do

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Suze: your plan of transferring your money from a UTMA to

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Suze: a 529. However, you can't directly transfer UTMA funds into

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Suze: a regular 529 plan.

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Suze: Because the money legally belongs to the child, however, you

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Suze: can open a UTMA/529 account, which is a 529 plan

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00:22:33,489 --> 00:22:37,969
Suze: funded with UTMA money. Now remember it must remain in

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Suze: the child's name. The custodian must use it for that

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Suze: child's qualified education expenses.

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Suze: You can't change the beneficiary to another person unlike a

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Suze: normal 529, so you have to know all these things, Jean.

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Suze: And to fund it, the custodian sells the investments in

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Suze: the UTMA. So don't invest the money in the UTMA

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Suze: once the uncle gives it to the kid, all right?

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Suze: And then you have to contribute it to the UTMA/529.

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Suze: And there you go, just that simple. Now if you

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Suze: invested it, everybody, let's say you had money in a

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Suze: UTMA or a UGMA in the kid's name, you had

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Suze: invested it and now you want to put it in

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Suze: a 529 plan for them.

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00:23:32,290 --> 00:23:35,179
Suze: You would have to sell the investments and then the

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Suze: kids would have to pay taxes on the gain if

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Suze: there's any.

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Suze: That's why Jean, in your particular situation, just take it,

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00:23:44,930 --> 00:23:49,410
Suze: don't invest it, leave it in cash, but immediately transfer

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00:23:49,410 --> 00:23:56,400
Suze: it to a UTMA/529 account in cash. Just that simple,

402
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Suze: brilliant girlfriend.

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KT: Why can't the uncle open the the UTMA/529?

404
00:24:04,239 --> 00:24:05,069
Suze: Well, they wouldn't have...

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KT: Why can't he open that?

406
00:24:08,280 --> 00:24:13,349
Suze: He would just open up truthfully a 529 regular plan

407
00:24:13,349 --> 00:24:17,900
Suze: would be 10 times smarter than doing a UTMA first.

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00:24:18,699 --> 00:24:24,760
Suze: There's no need KT, to open up a UTMA/529 if

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00:24:24,760 --> 00:24:26,839
Suze: you just have a 529.

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00:24:27,569 --> 00:24:31,369
Suze: So you would never put money into a UTMA first.

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00:24:31,400 --> 00:24:35,159
Suze: You would bypass it all together. However, Jean can't tell

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Suze: the uncle. Could you just put it in a 529

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00:24:38,900 --> 00:24:43,319
Suze: plan rather than a UTMA? She's not open to do

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Suze: that according to her email. So he thinks he's giving

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Suze: the kid a gift, and he is, but to make

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Suze: it a true gift to the kid,

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Suze: Jean's gonna transfer it to a UTMA/529 account, just that simple.

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Suze: Good thinking girlfriend. Anyway, KT.

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Suze: That's it. So there's only one thing you want to

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Suze: tell people as we leave this podcast. What is it?

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KT: There's only three things we want you to remember...

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Suze: Three?

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00:25:18,859 --> 00:25:23,649
KT: Not one, three, and it's this people first, then money,

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KT: then things.

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Suze: Now you stay safe, secure, and healthy, and

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00:25:30,890 --> 00:25:36,500
Suze: make sure you subscribe to my YouTube channel. Go to YouTube.com/

427
00:25:36,500 --> 00:25:40,449
Suze: Suzeorman and be smart. All right, everybody.

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KT: Arrivederci!

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Suze: See you soon. Bye-bye.