1 00:00:07,690 --> 00:00:13,199 Suze: February 26, 2026. Welcome everybody to 2 00:00:13,520 --> 00:00:15,220 KT: the Women and Money podcast 3 00:00:15,220 --> 00:00:16,250 Suze: and 4 00:00:16,360 --> 00:00:20,270 Suze: everybody smart enough to listen. This is the KT and 5 00:00:20,270 --> 00:00:22,195 Suze: Suze edition. Yes it is... 6 00:00:22,195 --> 00:00:22,500 KT: Ask anything. 7 00:00:23,799 --> 00:00:26,340 Suze: So this is where if you have a question, everybody, 8 00:00:26,520 --> 00:00:27,379 Suze: and it's short. 9 00:00:28,040 --> 00:00:31,120 Suze: And it makes sense, and you give me enough information 10 00:00:31,120 --> 00:00:35,200 Suze: that maybe it could be answered, all right, because KT 11 00:00:35,200 --> 00:00:38,559 Suze: looks at that when she looks at the emails, and 12 00:00:38,560 --> 00:00:42,580 Suze: she chooses it, it will be answered on this podcast. Again, 13 00:00:43,040 --> 00:00:47,000 Suze: write to ask Suze podcast at gmail.com. 14 00:00:48,189 --> 00:00:48,918 Suze: Are you sad? 15 00:00:49,240 --> 00:00:52,959 KT: I'm a little sad, everybody, because Mother Nature did not 16 00:00:52,959 --> 00:00:56,759 KT: want Suze and I to fly to New York today. 17 00:00:57,319 --> 00:00:58,860 Suze: We are supposed to be right after this, go to the plane. 18 00:00:59,479 --> 00:01:02,200 KT: We are supposed to be on our way to Manhattan. 19 00:01:02,439 --> 00:01:06,800 KT: We had lots and lots of wonderful gatherings, reunions, and 20 00:01:06,800 --> 00:01:13,399 KT: most of all, tomorrow, a very special birthday celebration with 21 00:01:13,400 --> 00:01:17,319 KT: Larry Gallant, Amy's husband, Amy, our executive producer. 22 00:01:17,809 --> 00:01:22,050 KT: Larry's birthday is during Chinese New Year this year. We 23 00:01:22,050 --> 00:01:27,089 KT: planned for you, Larry, the most amazing Chinese New Year 24 00:01:27,089 --> 00:01:30,290 KT: dinner and a dessert beyond the beyond, and I'm not 25 00:01:30,290 --> 00:01:33,449 KT: gonna tell you anything else until next year when we'll 26 00:01:33,449 --> 00:01:34,889 KT: try it all over again. 27 00:01:35,309 --> 00:01:37,875 Suze: Happy. Birthday, my friend. All right, what you got, KT? 28 00:01:38,485 --> 00:01:41,254 KT: OK, so I wanna open with a story. This isn't 29 00:01:41,254 --> 00:01:44,514 KT: a question, and, and sometimes I love when you all 30 00:01:44,514 --> 00:01:48,555 KT: send me your stories or, or things that you've experienced 31 00:01:48,555 --> 00:01:52,035 KT: from Suze, and this one is particularly special. It's from 32 00:01:52,035 --> 00:01:55,815 KT: a gentleman by the name of Sloan. Dear Suze and KT, 33 00:01:56,315 --> 00:01:59,565 KT: thank you for everything you've both done for me. 34 00:01:59,949 --> 00:02:04,029 KT: I first started listening to you back in 2005 when 35 00:02:04,029 --> 00:02:09,320 KT: Suze hosted the Suze Orman Show on CNBC Saturday nights 36 00:02:09,508 --> 00:02:12,669 KT: when I was babysitting in high school, I would put 37 00:02:12,669 --> 00:02:15,550 KT: the kids down and watch the show, and you taught 38 00:02:15,550 --> 00:02:20,459 KT: me so much about money and later, ready for this, 39 00:02:20,630 --> 00:02:26,008 KT: about accepting myself as a gay man, particularly at the 40 00:02:26,008 --> 00:02:29,649 KT: end of each episode when you would say good night 41 00:02:29,649 --> 00:02:32,609 KT: to KT. Do you remember that, Suze? 42 00:02:33,520 --> 00:02:35,888 Suze: KT, of course I do. Otherwise, why would I? Of 43 00:02:35,889 --> 00:02:36,720 Suze: course I do. 44 00:02:36,809 --> 00:02:39,369 KT: So she would say good night. I was probably with 45 00:02:39,369 --> 00:02:42,570 KT: her in the studio, but it was always aired fairly 46 00:02:42,570 --> 00:02:45,008 KT: late on Saturday nights, and she would always end by 47 00:02:45,008 --> 00:02:46,410 KT: saying goodnight to KT. 48 00:02:46,899 --> 00:02:51,619 KT: So, fast forward now, Sloan said, I'm 37, married to 49 00:02:51,619 --> 00:02:57,300 KT: a fantastic husband. We are multi-millionaires from the advice you 50 00:02:57,300 --> 00:03:00,710 KT: shared on the show and in your books, and then he, 51 00:03:00,809 --> 00:03:04,339 KT: he quotes all Suze's favorite things, open a Roth, make 52 00:03:04,339 --> 00:03:07,899 KT: yourself indispensable to your employer when you're young, Fab and broke, 53 00:03:08,288 --> 00:03:12,529 KT: M stands for marriage, M for money, live below your means, 54 00:03:12,570 --> 00:03:16,970 KT: within your needs, among others. Uh, he's quoting everything you 55 00:03:16,970 --> 00:03:19,970 KT: ever taught him, and he said getting to this point 56 00:03:19,970 --> 00:03:24,329 KT: wasn't always easy. I had a difficult coming out experience 57 00:03:24,330 --> 00:03:27,109 KT: with a family who took it quite hard. 58 00:03:27,508 --> 00:03:32,190 KT: But seeing role models like you and KT gave me confidence, 59 00:03:32,270 --> 00:03:34,589 KT: and I was not alone as the only gay kid 60 00:03:34,589 --> 00:03:37,389 KT: in a small town. And then he said there have 61 00:03:37,389 --> 00:03:40,350 KT: been ups and downs over my corporate career during the 62 00:03:40,350 --> 00:03:45,149 KT: last 15 years, but throughout it all I diligently kept 63 00:03:45,149 --> 00:03:50,389 KT: contributing to my Roth accounts. I am so blessed. 64 00:03:50,970 --> 00:03:55,529 KT: Most importantly, I'm out proud and loving life here in 65 00:03:55,529 --> 00:03:59,729 KT: New York City with a family and in-laws who are 66 00:03:59,729 --> 00:04:04,809 KT: wonderful and who have come around. I fundamentally believe I 67 00:04:04,809 --> 00:04:08,490 KT: would not be where I am today without your wisdom 68 00:04:08,490 --> 00:04:11,419 KT: and inspiration. Isn't that sweet? 69 00:04:11,970 --> 00:04:12,049 KT: That's from Sloan, to you Suze. 70 00:04:12,049 --> 00:04:16,869 Suze: Look at my little face, you know what I'm sitting here thinking. 71 00:04:18,378 --> 00:04:23,789 Suze: Am I more proud seriously that maybe my advice that 72 00:04:23,789 --> 00:04:29,868 Suze: he chose to take made him multi-millionaire all right, or 73 00:04:29,868 --> 00:04:31,408 Suze: am I more proud, 74 00:04:32,428 --> 00:04:36,779 Suze: that because we have not ever hidden our love for 75 00:04:36,779 --> 00:04:37,559 Suze: one another. 76 00:04:38,440 --> 00:04:42,899 Suze: In my entire professional career, even before I met KT, 77 00:04:43,920 --> 00:04:48,619 Suze: I was so proud of being gay. I loved my life. 78 00:04:48,799 --> 00:04:52,640 Suze: I loved who I was, and I didn't let anything 79 00:04:52,640 --> 00:04:56,220 Suze: hold me back because of that. Am I more proud 80 00:04:57,019 --> 00:05:00,089 Suze: because I touched one little boy's heart, 81 00:05:01,260 --> 00:05:04,630 Suze: that made him not feel so all alone and now 82 00:05:04,630 --> 00:05:06,899 Suze: look at him and I have to tell you which 83 00:05:06,899 --> 00:05:08,779 Suze: one do you think I'm more proud about? 84 00:05:08,859 --> 00:05:12,899 KT: Absolutely for touching his heart, bar none. I mean that's 85 00:05:12,899 --> 00:05:17,299 KT: not even a question. There's things in life that money 86 00:05:17,299 --> 00:05:20,940 KT: will never ever buy or replace and 87 00:05:21,053 --> 00:05:25,875 KT: one of them is feeling happy and proud and in 88 00:05:25,875 --> 00:05:27,445 KT: love with who you are. 89 00:05:27,553 --> 00:05:31,964 Suze: Yeah, it's right. Yeah, so Sloan, thank you so, so, 90 00:05:32,113 --> 00:05:32,554 Suze: so much. 91 00:05:32,834 --> 00:05:36,065 KT: Yeah, thanks for sharing that. I wanted to open today's, um, 92 00:05:36,315 --> 00:05:39,554 KT: podcast with your story, Sloan. I'm also proud that you're 93 00:05:39,553 --> 00:05:44,315 KT: a multi-millionaire. Good for you. Why not? 94 00:05:44,829 --> 00:05:48,200 KT: OK, my next question is from Chuck, and, and this 95 00:05:48,200 --> 00:05:51,289 KT: one is equally a great story. He says, Hi, Suze, 96 00:05:51,519 --> 00:05:57,559 KT: I'm a 62-year-old postal carrier in good financial shape, but 97 00:05:57,559 --> 00:06:00,000 KT: I have a question and I really don't know what 98 00:06:00,000 --> 00:06:04,160 KT: direction to go. My daughter is 26. She has a 99 00:06:04,160 --> 00:06:07,359 KT: good job at JPMorgan in New York. She makes about 100 00:06:07,359 --> 00:06:12,678 KT: $125,000 seems to be going in the right direction. 101 00:06:13,190 --> 00:06:16,510 KT: She maxes out her Roth, gets the full match on 102 00:06:16,510 --> 00:06:20,309 KT: her 401k. She has no debt and does a great 103 00:06:20,309 --> 00:06:24,549 KT: job of budgeting her money. Here's my question. She has 104 00:06:24,549 --> 00:06:27,549 KT: a serious boyfriend. They're talking about getting engaged. 105 00:06:28,385 --> 00:06:29,454 Suze: How old is his daughter? 106 00:06:29,665 --> 00:06:34,544 KT: She's 26. Ready? It's OK. He does not make the 107 00:06:34,545 --> 00:06:38,144 KT: same money as my daughter. He makes about 90,000, but 108 00:06:38,144 --> 00:06:41,625 KT: he's a trust fund baby, and I'm thinking a pretty 109 00:06:41,625 --> 00:06:42,964 KT: substantial amount. 110 00:06:43,609 --> 00:06:46,570 KT: I don't even think he knows how much, but his 111 00:06:46,570 --> 00:06:50,089 KT: mom was a partner in a hedge fund, and she 112 00:06:50,089 --> 00:06:54,649 KT: hangs out with friends that are extremely wealthy people, so 113 00:06:54,649 --> 00:06:57,428 KT: Chuck the mailman is, you know, kind of us 114 00:06:57,428 --> 00:06:58,649 KT: this story. Then he said. 115 00:06:59,380 --> 00:07:01,940 KT: That said, there will be a prenup for my daughter 116 00:07:01,940 --> 00:07:04,618 KT: to sign before they get married, and my daughter said 117 00:07:04,619 --> 00:07:08,700 KT: she has no problems doing that, and that's fine, but Suze, 118 00:07:09,220 --> 00:07:12,700 KT: who should she get to read over this agreement, and 119 00:07:12,700 --> 00:07:16,339 KT: what kind of documents should she have drawn up in 120 00:07:16,339 --> 00:07:18,260 KT: case she makes a lot more money than 121 00:07:18,420 --> 00:07:22,059 KT: him down the road and to protect her when children 122 00:07:22,059 --> 00:07:26,339 KT: become involved. I listen to your podcast every week while 123 00:07:26,339 --> 00:07:30,540 KT: delivering mail. I love that and I've never heard this 124 00:07:30,540 --> 00:07:33,899 KT: brought up before. The young man is a nice kid, 125 00:07:34,059 --> 00:07:37,489 KT: but I'm old enough to know things in life happen 126 00:07:37,739 --> 00:07:41,799 KT: and I just wanna steer my daughter in the right direction. 127 00:07:42,290 --> 00:07:46,660 KT: Chuck the mailman. Chuck, Chuck the mailman, Chuck, I wish 128 00:07:46,660 --> 00:07:47,880 KT: you delivered our mail. 129 00:07:48,630 --> 00:07:50,070 KT: I love the mailman. 130 00:07:50,670 --> 00:07:56,329 Suze: Chuck, here's what's really important. It's not so much between 131 00:07:57,029 --> 00:07:59,630 Suze: her and her boyfriend, believe it or not. 132 00:08:00,700 --> 00:08:04,779 Suze: What's going to be very important in my opinion, is 133 00:08:04,779 --> 00:08:11,940 Suze: that his mother really loves your daughter, and they have 134 00:08:11,940 --> 00:08:14,600 Suze: a very, very close relationship. 135 00:08:15,750 --> 00:08:20,600 Suze: And one way that will become true is if your 136 00:08:20,600 --> 00:08:25,359 Suze: daughter is happy to sign a prenup. Your daughter wants 137 00:08:25,359 --> 00:08:33,409 Suze: to protect her current boyfriend, possible fiancee, possible husband's future inheritance, 138 00:08:33,799 --> 00:08:38,580 Suze: and it's going to be coming obviously from his mother. 139 00:08:39,409 --> 00:08:43,228 Suze: So, his mother is always going to want to protect 140 00:08:43,330 --> 00:08:47,450 Suze: her money that she wants to make sure goes to 141 00:08:47,450 --> 00:08:50,770 Suze: her son. If her son decides to use some of 142 00:08:50,770 --> 00:08:53,909 Suze: it to help them live a nice lifestyle, OK. 143 00:08:54,940 --> 00:09:01,349 Suze: But here's the advice. Number one, she cannot sign a 144 00:09:01,349 --> 00:09:04,309 Suze: prenup on the way to the altar. It will not 145 00:09:04,309 --> 00:09:07,830 Suze: be valid, especially in the state of New York. She 146 00:09:07,830 --> 00:09:11,728 Suze: has to really do that now. She needs to get 147 00:09:12,140 --> 00:09:16,909 Suze: her own matrimonial attorney, her prenup attorney, not just a 148 00:09:16,909 --> 00:09:20,739 Suze: regular attorney, but somebody who seriously 149 00:09:21,179 --> 00:09:27,039 Suze: knows how to draw up prenups and that really understands 150 00:09:27,039 --> 00:09:30,359 Suze: the way to do it and protects her in case 151 00:09:30,359 --> 00:09:34,789 Suze: she has increases in salary on all kinds of things 152 00:09:35,080 --> 00:09:39,010 Suze: so it's really not that difficult, believe it or not 153 00:09:39,479 --> 00:09:42,780 Suze: again they both need to be represented by an attorney. 154 00:09:42,840 --> 00:09:46,400 Suze: I'm sure he will be. I'm sure his mother will 155 00:09:46,400 --> 00:09:48,460 Suze: absolutely take care of that. 156 00:09:48,929 --> 00:09:52,700 Suze: But she does as well, and they both need to 157 00:09:52,700 --> 00:09:56,619 Suze: divulge to each other how much money they have, everything 158 00:09:56,619 --> 00:09:58,669 Suze: they know about their money. 159 00:09:59,609 --> 00:10:04,159 Suze: And then don't worry about it after that, really, let 160 00:10:04,159 --> 00:10:08,080 Suze: his be his from his mom. Let what they make 161 00:10:08,080 --> 00:10:11,559 Suze: together will have to be divided. That won't be necessarily 162 00:10:11,559 --> 00:10:12,728 Suze: protected by a prenup. 163 00:10:13,640 --> 00:10:18,200 Suze: But she just needs her own lawyer, and changes should 164 00:10:18,200 --> 00:10:22,960 Suze: always be made to those prenups. But don't wait to 165 00:10:22,960 --> 00:10:27,200 Suze: do it right before she's married cause it won't be valid. 166 00:10:27,479 --> 00:10:29,400 Suze: Maybe that will help her all right. 167 00:10:31,200 --> 00:10:31,989 KT: OK. 168 00:10:32,739 --> 00:10:36,299 KT: This is from Holly, Suze. She said, Hi. I had 169 00:10:36,299 --> 00:10:38,809 KT: made a comment in the Women and Money blog and 170 00:10:38,809 --> 00:10:44,199 KT: I was contacted by a "Suze" saying, let's continue the 171 00:10:44,289 --> 00:10:47,940 KT: conversation via WhatsApp. I was afraid it was a scam 172 00:10:47,940 --> 00:10:52,380 KT: or fake Suze, so I didn't respond. It was several 173 00:10:52,380 --> 00:10:56,619 KT: days ago but was bothering me because if it was you, Suze, 174 00:10:56,700 --> 00:10:59,849 KT: I feel terrible for not replying, so I thought I'd 175 00:10:59,849 --> 00:11:03,489 KT: better check with you all. Thanks very much and again 176 00:11:03,489 --> 00:11:06,419 KT: apologies if it was not a fake or AI. 177 00:11:06,919 --> 00:11:09,609 Suze: It was such a scam, I can't even tell you, right? 178 00:11:09,729 --> 00:11:13,199 Suze: And what you have to understand, everybody, is I would 179 00:11:13,200 --> 00:11:17,710 Suze: never ever say to you, let's continue this on WhatsApp. 180 00:11:17,969 --> 00:11:20,130 Suze: I actually don't even use WhatsApp. 181 00:11:20,919 --> 00:11:24,400 Suze: So I would never say that number one. Number two, 182 00:11:24,520 --> 00:11:30,979 Suze: if anything, I might maybe answer you in the blog 183 00:11:30,979 --> 00:11:34,599 Suze: or answer you on the app, but I've stopped doing 184 00:11:34,599 --> 00:11:39,799 Suze: that as well because people have been imitating me, so no, 185 00:11:39,880 --> 00:11:41,210 Suze: I am not responding 186 00:11:41,775 --> 00:11:44,984 Suze: to you, you are not to think it's me. If 187 00:11:44,984 --> 00:11:47,863 Suze: I do want something from you, trust me, I'll find 188 00:11:47,864 --> 00:11:50,544 Suze: a way to get in touch with you personally, and 189 00:11:50,544 --> 00:11:55,145 Suze: you'll know it's me. But, um, it, I, I can't 190 00:11:55,145 --> 00:11:56,705 Suze: tell you how upset it is. 191 00:11:57,330 --> 00:12:00,570 Suze: That all this scamming is going on. So I ask 192 00:12:00,570 --> 00:12:05,368 Suze: you to be very, very, very careful. All right, KT. 193 00:12:05,520 --> 00:12:09,989 KT: OK, this is from Kay. She said, Hi, Suze and KT. 194 00:12:10,330 --> 00:12:14,510 KT: I'm 36 without kids and after paying off my student loans, 195 00:12:14,770 --> 00:12:19,250 KT: I am finally debt-free with an emergency fund for the 196 00:12:19,250 --> 00:12:25,530 KT: first time in my adult life thanks to your podcast. Congratulations, Kay. 197 00:12:26,190 --> 00:12:26,640 KT: She said... 198 00:12:26,640 --> 00:12:28,039 Suze: Congratulations, Suze. 199 00:12:28,239 --> 00:12:29,799 KT: Congratulations, Suze. 200 00:12:30,479 --> 00:12:32,859 Suze: I, I just wanna say something a little bit ago 201 00:12:33,000 --> 00:12:35,239 Suze: you were talking, I think it was Sloan, and you 202 00:12:35,239 --> 00:12:38,919 Suze: said how proud you were that he was also a multi-millionaire. Well, 203 00:12:39,000 --> 00:12:40,500 Suze: what did you have to do with that? 204 00:12:41,599 --> 00:12:44,959 KT: I'm just proud of him, proud for him. 205 00:12:45,039 --> 00:12:46,650 Suze: Oh, for him. All right, OK, just wondering. 206 00:12:47,320 --> 00:12:50,400 KT: And I, I think I influence everyone a little here. 207 00:12:51,419 --> 00:12:55,859 KT: Maybe a lot. So, so Kay keeps saying, Suze, I 208 00:12:55,859 --> 00:12:59,020 KT: have an HSA account and I'm very excited to invest that... 209 00:12:59,020 --> 00:13:00,109 Suze: What's an HSA account? 210 00:13:00,700 --> 00:13:04,950 KT: A Health Savings Account, and I am very excited to 211 00:13:04,950 --> 00:13:09,260 KT: invest that money into the stock market. My employer funds 212 00:13:09,260 --> 00:13:14,530 KT: the HSA $1,000 out of the $1,700 deductible. 213 00:13:14,700 --> 00:13:15,250 Suze: Fabulous. 214 00:13:15,460 --> 00:13:18,559 KT: You always say not to invest with money you may 215 00:13:18,559 --> 00:13:20,039 KT: need anytime soon. 216 00:13:20,590 --> 00:13:23,718 KT: And here's Kay's question. She said, So what if I 217 00:13:23,719 --> 00:13:28,900 KT: invest and then have unforeseen medical expenses this year, she's saying, 218 00:13:29,030 --> 00:13:30,919 KT: and my investments are down. 219 00:13:31,510 --> 00:13:34,869 KT: So that's her question, and you know she's asking what 220 00:13:34,869 --> 00:13:37,390 KT: should she do? Should she invest? 221 00:13:37,510 --> 00:13:40,650 Suze: Yeah, so here's the thing, I read this one, KT, 222 00:13:41,150 --> 00:13:45,189 Suze: and I asked Kay just a very simple question. What 223 00:13:45,190 --> 00:13:50,390 Suze: is her max out of pocket expense? Because every health 224 00:13:50,390 --> 00:13:54,789 Suze: savings account has a deductible. In this case for Kay, 225 00:13:54,799 --> 00:13:58,429 Suze: it's $1,700 which is actually very good, by the way. 226 00:13:58,760 --> 00:14:03,510 Suze: And everyone has a max out of pocket expense, meaning 227 00:14:03,690 --> 00:14:07,210 Suze: an amount of money that no matter what happens, no 228 00:14:07,210 --> 00:14:09,669 Suze: matter how sick she is, no matter what goes on, 229 00:14:10,289 --> 00:14:12,289 Suze: she never will have to pay more than that out 230 00:14:12,289 --> 00:14:16,630 Suze: of her own pocket. And for Kay it was $3,100 231 00:14:16,969 --> 00:14:22,890 Suze: which is also incredibly low. So I didn't answer Kay directly, 232 00:14:22,969 --> 00:14:25,289 Suze: but I'm gonna answer her now. I just needed that 233 00:14:25,289 --> 00:14:26,409 Suze: piece of information. 234 00:14:26,880 --> 00:14:30,820 Suze: OK, here's the scoop. They're giving you $1,000. 235 00:14:31,599 --> 00:14:34,239 Suze: So, you just need to make sure that you keep 236 00:14:34,239 --> 00:14:41,989 Suze: $700 safe to meet the $1,700 deductible, correct? You got that? So, 237 00:14:42,000 --> 00:14:46,359 Suze: you have that money. However, on top of that, you 238 00:14:46,359 --> 00:14:48,559 Suze: have to make sure that you never pay more than 239 00:14:48,559 --> 00:14:51,299 Suze: $3,100 out of your own pocket. 240 00:14:52,450 --> 00:14:57,250 Suze: If you have $3,100 in a money market account, in 241 00:14:57,250 --> 00:15:00,650 Suze: a savings account, anywhere that you can access it, and 242 00:15:00,650 --> 00:15:02,309 Suze: you just happen to know, 243 00:15:02,979 --> 00:15:06,719 Suze: that that is for the max out of pocket expense 244 00:15:07,380 --> 00:15:11,500 Suze: you could invest anything that you want then above the 245 00:15:11,500 --> 00:15:17,460 Suze: deductible in the HSA investment choices if you do not 246 00:15:17,460 --> 00:15:21,219 Suze: have any extra money at all. You don't have that 247 00:15:21,219 --> 00:15:23,440 Suze: $3,100 extra. 248 00:15:23,820 --> 00:15:30,380 Suze: Then don't invest the $3,100 plus $1,700. Just keep it 249 00:15:30,380 --> 00:15:33,479 Suze: in the money market account in the HSA so it 250 00:15:33,479 --> 00:15:37,299 Suze: is there, and then you'll be fine no matter what. 251 00:15:37,520 --> 00:15:40,619 Suze: Either way, you'll be great. Yeah. 252 00:15:41,559 --> 00:15:44,969 KT: All right, Suze, this next question makes me curious. It's 253 00:15:44,969 --> 00:15:49,979 KT: from Patty. My husband saw an ad for something called Goldbacks. 254 00:15:50,440 --> 00:15:54,200 KT: He thinks it's a great way to access gold for 255 00:15:54,200 --> 00:15:57,909 KT: a smaller investment. I think it looks like a scam. 256 00:15:58,200 --> 00:16:02,359 KT: Do you know anything about these Goldbacks? Do you? 257 00:16:02,760 --> 00:16:03,320 Suze: I do. 258 00:16:03,479 --> 00:16:04,479 KT: Tell, tell us. 259 00:16:04,640 --> 00:16:10,940 Suze: You know, KT, right now everybody's still talking about gold, gold, gold, silver, silver, silver. 260 00:16:11,729 --> 00:16:15,469 Suze: And so, people are trying to get people to invest 261 00:16:15,469 --> 00:16:18,330 Suze: in gold in all little ways, OK. 262 00:16:18,840 --> 00:16:24,760 Suze: So Goldbacks literally are physical notes that contains a very 263 00:16:24,760 --> 00:16:28,039 Suze: that like a piece of paper KT and on the 264 00:16:28,039 --> 00:16:34,960 Suze: paper it contains a very small amount of 24 karat 265 00:16:34,960 --> 00:16:39,280 Suze: gold that's sealed between like these this plastic thing now 266 00:16:39,280 --> 00:16:41,510 Suze: like this polymer, you know, the things that are and 267 00:16:41,510 --> 00:16:44,359 Suze: there's a little tiny bit of gold in there. 268 00:16:44,840 --> 00:16:47,690 KT: So it's physical gold... it's like a piece of gold. 269 00:16:47,719 --> 00:16:51,280 Suze: A little tiny bit of it. So each one has 270 00:16:51,280 --> 00:16:58,080 Suze: a measured gold content. So Goldbacks can contain, get ready 271 00:16:58,080 --> 00:17:04,780 Suze: for this, like 0.0001 ounce troy ounce of gold, do you know how 272 00:17:04,780 --> 00:17:05,989 Suze: little that is? 273 00:17:06,329 --> 00:17:10,260 Suze: And so what happens is they're created by this private company, 274 00:17:10,449 --> 00:17:13,689 Suze: not by the US government. That is number one, and 275 00:17:13,689 --> 00:17:16,369 Suze: some people use them as a collectible, a way to 276 00:17:16,369 --> 00:17:20,689 Suze: own small amounts of gold or whatever it may be, OK, 277 00:17:21,040 --> 00:17:26,170 Suze: meaning some small businesses though, do choose to accept them 278 00:17:26,770 --> 00:17:29,449 Suze: for money, don't ask me why, but they do. But 279 00:17:29,449 --> 00:17:33,650 Suze: they're not widely used like dollars, so no, they aren't 280 00:17:33,650 --> 00:17:37,619 Suze: fake gold. There really is gold in them. When you 281 00:17:37,619 --> 00:17:38,209 Suze: think about it. 282 00:17:38,489 --> 00:17:39,260 KT: What do you do with it? 283 00:17:39,569 --> 00:17:41,569 Suze: So are they, what do you think? Is that a scam? 284 00:17:41,609 --> 00:17:43,489 Suze: Is it not? What would you do? What would you 285 00:17:43,489 --> 00:17:43,890 Suze: tell her? 286 00:17:44,050 --> 00:17:46,290 KT: I guess it's not a scam, but what do you 287 00:17:46,290 --> 00:17:47,050 KT: do with it? 288 00:17:47,569 --> 00:17:51,900 KT: It's not a practical investment in my opinion, because what 289 00:17:51,900 --> 00:17:54,780 KT: if you need the money, you wanna sell this Goldback, 290 00:17:55,020 --> 00:17:56,109 KT: how do you do that? 291 00:17:56,300 --> 00:18:00,679 Suze: Here's what's so sad, all right, is that they're not 292 00:18:00,680 --> 00:18:04,379 Suze: US legal tender in the way like dollars are, but 293 00:18:04,380 --> 00:18:07,900 Suze: many sellers, as I said, claim you can use it 294 00:18:07,900 --> 00:18:12,219 Suze: for money, you cannot, you cannot easily spend them. Just 295 00:18:12,219 --> 00:18:13,250 Suze: remember I said that. 296 00:18:13,900 --> 00:18:17,099 Suze: Now, there are many people who sell these that have 297 00:18:17,099 --> 00:18:17,869 Suze: targeted 298 00:18:18,829 --> 00:18:24,669 Suze: people like her husband, they have targeted seniors or vulnerable 299 00:18:24,670 --> 00:18:30,310 Suze: buyers with these high pressure sales claiming exaggerated benefits and 300 00:18:30,310 --> 00:18:34,930 Suze: guaranteed returns and all these things, so on some level 301 00:18:35,030 --> 00:18:38,310 Suze: they're kind of a legitimate scam, believe it or not. 302 00:18:38,479 --> 00:18:39,449 KT: A Legal scam... 303 00:18:39,449 --> 00:18:42,609 Suze: Kind of, but gold back, the reason I don't want 304 00:18:42,609 --> 00:18:45,719 Suze: any of you to buy them, all right, everybody, is 305 00:18:45,719 --> 00:18:50,050 Suze: that they carry a very high premium over the actual 306 00:18:50,050 --> 00:18:53,290 Suze: gold content. What does that mean? So what that means 307 00:18:53,290 --> 00:18:55,979 Suze: is you and I go and we buy gold. We 308 00:18:55,979 --> 00:18:58,069 Suze: pay whatever gold is going for. 309 00:18:58,569 --> 00:19:01,910 Suze: The ounce it's going for whatever we pay that amount 310 00:19:02,410 --> 00:19:05,609 Suze: here maybe gold is going for x and they charge 311 00:19:05,609 --> 00:19:10,170 Suze: you x plus maybe 20% or 30% or some percentage 312 00:19:10,170 --> 00:19:12,589 Suze: because that's how they make their money. 313 00:19:12,959 --> 00:19:16,199 Suze: So you might pay more than what the gold inside 314 00:19:16,199 --> 00:19:19,800 Suze: is even worth, everybody, if you're thinking about it in 315 00:19:19,800 --> 00:19:25,790 Suze: terms of investment terms. So, here's the bottom line, legitimate product, OK, maybe, 316 00:19:26,040 --> 00:19:29,869 Suze: but not a guaranteed investment. Can you just tell your husband, 317 00:19:30,319 --> 00:19:34,000 Suze: stay away? Why doesn't he play cards of a different kind, 318 00:19:34,079 --> 00:19:37,260 Suze: like gin rummy or whatever, but not these. 319 00:19:39,260 --> 00:19:42,060 KT: I still, I still don't know if you, if you 320 00:19:42,060 --> 00:19:45,359 KT: collect them, how do you redeem it? Where do you 321 00:19:45,359 --> 00:19:47,010 KT: redeem a Goldback? 322 00:19:47,540 --> 00:19:50,130 Suze: There's some people that you can redeem them with like the, 323 00:19:50,260 --> 00:19:53,400 Suze: the sellers and all, but KT, they're not even worth 324 00:19:53,540 --> 00:19:55,819 Suze: us discussing if you wanna know the truth. 325 00:19:56,140 --> 00:19:58,040 KT: That's the answer. There you go, everybody. 326 00:19:59,209 --> 00:20:01,459 KT: OK, this is from Roberta. 327 00:20:02,439 --> 00:20:08,079 KT: Suze and KT, I have two questions. I, I like this. 328 00:20:08,140 --> 00:20:10,718 KT: I like this one a lot. This one reminds me 329 00:20:10,719 --> 00:20:13,479 KT: of my family too. She said, I grew up poor 330 00:20:13,479 --> 00:20:17,800 KT: with six siblings, nothing like siblings. I have a net 331 00:20:17,800 --> 00:20:25,880 KT: worth of approximately $9.5 million listening to Suze's advice for 332 00:20:25,880 --> 00:20:28,619 KT: the past 30+ years. 333 00:20:29,140 --> 00:20:30,938 Suze: I'm wait, I have to say something, right? 334 00:20:32,020 --> 00:20:35,010 Suze: This may have been our second one today, KT about 335 00:20:35,010 --> 00:20:38,589 Suze: how we have created millionaires by listening to my advice. Wait. 336 00:20:39,469 --> 00:20:47,790 Suze: It wasn't listening to my advice. It was following my advice, following. 337 00:20:48,069 --> 00:20:50,510 Suze: So for those of you listening right now, if all 338 00:20:50,510 --> 00:20:53,530 Suze: you're doing is listening, not gonna help you at all. 339 00:20:53,790 --> 00:20:56,389 Suze: You gotta take action. Do you hear me? Action, action, action. 340 00:20:57,310 --> 00:21:01,709 KT: So Roberta said, Suze, I'm 65 years old and just 341 00:21:01,709 --> 00:21:03,349 KT: retired this year. 342 00:21:03,810 --> 00:21:07,968 KT: I have a sister, four years older than myself. My 343 00:21:07,969 --> 00:21:13,879 KT: sister selflessly retired five years ago after working over 30 344 00:21:13,880 --> 00:21:18,310 KT: years in a factory to care for my 90-year-old mother. 345 00:21:19,050 --> 00:21:22,569 KT: We could never repay her as she took better care 346 00:21:22,569 --> 00:21:25,660 KT: of our mother than any one we could pay. 347 00:21:25,849 --> 00:21:27,050 Suze: That's how we felt about Lynn. 348 00:21:27,170 --> 00:21:29,909 KT: Yes, I said that. It reminds me of my sister. 349 00:21:30,369 --> 00:21:35,030 KT: My sister made slightly more than minimal wage her whole career. 350 00:21:35,329 --> 00:21:38,410 KT: I would like to give her my portion of my 351 00:21:38,410 --> 00:21:43,089 KT: inheritance upon my mother's death. My mother's house and accounts 352 00:21:43,089 --> 00:21:45,609 KT: are held in LLC transferrable 353 00:21:46,329 --> 00:21:50,390 KT: to her seven children upon her death, can I do 354 00:21:50,390 --> 00:21:54,550 KT: this without paying taxes? I also wish to put in 355 00:21:54,550 --> 00:21:58,000 KT: my trust that my sister receive a large sum of 356 00:21:58,000 --> 00:22:03,030 KT: money from my IRA account. If she is 69, four 357 00:22:03,030 --> 00:22:07,310 KT: years my senior, can the IRA funds be moved from 358 00:22:07,310 --> 00:22:11,300 KT: my IRA to hers? I don't think so. Can they? 359 00:22:11,869 --> 00:22:12,004 Suze: No, they can't. 360 00:22:12,004 --> 00:22:12,399 KT: Yeah, no. 361 00:22:12,969 --> 00:22:16,339 KT: And Suze, can she use it as her IRA without 362 00:22:16,339 --> 00:22:19,839 KT: the 10 year withdrawal rule applying? 363 00:22:20,380 --> 00:22:24,180 Suze: So Roberta, first of all, in terms of that you 364 00:22:24,180 --> 00:22:27,339 Suze: want to give your portion of your mother's house on 365 00:22:27,339 --> 00:22:31,599 Suze: her death to your sister, you can do two things 366 00:22:31,979 --> 00:22:34,739 Suze: go and talk to your mom. Say, Mom... 367 00:22:35,319 --> 00:22:38,859 Suze: I really want to do this. Can you change your will? 368 00:22:38,969 --> 00:22:42,349 Suze: Can you change your trust to give her my share, 369 00:22:42,520 --> 00:22:46,089 Suze: and that would be the easiest. Otherwise, the other thing 370 00:22:46,089 --> 00:22:49,290 Suze: you can do is, when Mom dies and you get 371 00:22:49,290 --> 00:22:52,599 Suze: your portion, just disclaim it. Just say you want it 372 00:22:52,599 --> 00:22:55,209 Suze: to go to your sister. You don't want it, so 373 00:22:55,209 --> 00:22:58,329 Suze: you don't accept it. It really is kind of just 374 00:22:58,329 --> 00:23:01,829 Suze: that easy, but the best way to do it really. 375 00:23:02,619 --> 00:23:05,800 Suze: Would be for Mom to change it right now and 376 00:23:06,020 --> 00:23:08,180 Suze: maybe mom will look at things and go. 377 00:23:08,579 --> 00:23:10,839 Suze: Well, maybe I should do that with more than just 378 00:23:10,930 --> 00:23:15,938 Suze: Roberta share, just a thought. Next, your sister is four 379 00:23:15,939 --> 00:23:23,260 Suze: years older than you, so she cannot take on money 380 00:23:23,260 --> 00:23:28,199 Suze: that's in your IRA as her IRA. The only person 381 00:23:28,199 --> 00:23:31,819 Suze: that can do that is a spouse, where a spouse 382 00:23:31,819 --> 00:23:35,010 Suze: can take on your IRA on your death as his 383 00:23:35,010 --> 00:23:36,359 Suze: or her IRA. 384 00:23:37,030 --> 00:23:41,890 Suze: However, your sister is older than you, so now she 385 00:23:41,890 --> 00:23:48,349 Suze: qualifies under what's called an eligible designated beneficiary, which I've 386 00:23:48,349 --> 00:23:52,869 Suze: talked about many, many times. But what an eligible designated 387 00:23:52,869 --> 00:23:58,689 Suze: beneficiary is upon your death, when you leave her money, 388 00:23:59,030 --> 00:24:02,910 Suze: it will be in an inherited IRA, her name on 389 00:24:02,910 --> 00:24:06,130 Suze: it and everything, OK, number one. 390 00:24:06,920 --> 00:24:09,209 Suze: Number two, she does not have to wipe it clean 391 00:24:09,209 --> 00:24:13,130 Suze: within 10 years. She can do it over her entire 392 00:24:13,130 --> 00:24:19,310 Suze: life span because she is what's called an eligible designated beneficiary. 393 00:24:19,530 --> 00:24:23,430 Suze: If she was not, then the 10 year would apply 394 00:24:23,430 --> 00:24:27,489 Suze: to her, but I just want to say something to you, OK. 395 00:24:28,550 --> 00:24:31,069 Suze: She's four years older than you. 396 00:24:32,260 --> 00:24:35,369 Suze: And KT and I often talk about this as well. 397 00:24:35,739 --> 00:24:38,780 Suze: Do you really want to have to wait till you 398 00:24:38,780 --> 00:24:42,349 Suze: die to give her money? Really? 399 00:24:43,130 --> 00:24:45,209 Suze: When she's older than you. 400 00:24:45,920 --> 00:24:50,900 Suze: So, how are you gonna feel if she dies before you, 401 00:24:51,199 --> 00:24:53,880 Suze: and you never got to give her any of your 402 00:24:53,880 --> 00:24:58,839 Suze: IRA or anything like that. So, given that you have 403 00:24:58,839 --> 00:25:00,680 Suze: such a great net worth, 404 00:25:01,520 --> 00:25:04,660 Suze: and eventually here you're gonna be taking money out of 405 00:25:04,660 --> 00:25:08,880 Suze: your IRA anyway. Why not with the money that you 406 00:25:08,880 --> 00:25:13,260 Suze: take out every year? You pay taxes on it and 407 00:25:13,280 --> 00:25:16,119 Suze: you can give it to her or do whatever you want. 408 00:25:16,400 --> 00:25:18,760 Suze: You can give some of it, take it off your 409 00:25:18,760 --> 00:25:21,639 Suze: unified credit, you know, some of it will go where 410 00:25:21,640 --> 00:25:24,520 Suze: it's not taxable to her or you. Just depends on 411 00:25:24,520 --> 00:25:29,319 Suze: the year you do it, but think about doing that now. 412 00:25:30,280 --> 00:25:33,310 Suze: 'Cause otherwise I just have to say this. Think about 413 00:25:33,310 --> 00:25:36,929 Suze: how she must feel. She knows she doesn't have any money. 414 00:25:37,310 --> 00:25:40,229 Suze: She knows she's taking care of your mother, which is 415 00:25:40,229 --> 00:25:43,669 Suze: probably the greatest gift that she's ever given to herself, 416 00:25:43,910 --> 00:25:48,869 Suze: bar none. But she has nothing. She has nothing. And 417 00:25:48,869 --> 00:25:51,750 Suze: so she has to be worried about herself and what 418 00:25:51,750 --> 00:25:54,790 Suze: is she going to do when she gets older? Who's 419 00:25:54,790 --> 00:25:57,550 Suze: going to take care of her like she's taking care 420 00:25:57,550 --> 00:25:58,829 Suze: of your mother. 421 00:25:59,599 --> 00:26:03,050 Suze: So you make sure, Roberta, that you take care of 422 00:26:03,050 --> 00:26:06,800 Suze: that somehow for her just saying. 423 00:26:07,640 --> 00:26:10,810 KT: And Roberta, talk to your other siblings about it 424 00:26:10,810 --> 00:26:11,329 Suze: As well. 425 00:26:11,449 --> 00:26:14,449 KT: Have them put a little money in the pot for this caregiving sister. 426 00:26:15,609 --> 00:26:17,688 Suze: I want, I just wanna tell you all a little 427 00:26:17,689 --> 00:26:22,849 Suze: story that happened the other day. Last Saturday we had 428 00:26:22,849 --> 00:26:26,349 Suze: a friend by the name of Paula Canny who came 429 00:26:26,349 --> 00:26:30,688 Suze: from California to Florida to do a few things here 430 00:26:30,689 --> 00:26:32,109 Suze: with her old friend, 431 00:26:32,680 --> 00:26:36,020 Suze: by the name of Cathy and they're just good friends, fabulous, 432 00:26:36,229 --> 00:26:40,520 Suze: and they came to our condo for dinner and I've 433 00:26:40,520 --> 00:26:44,159 Suze: been friends with Paula and Woody, Paula's wife now, Woody, 434 00:26:44,239 --> 00:26:46,939 Suze: but we've been friends. I've been friends with Woody since 435 00:26:46,939 --> 00:26:52,159 Suze: the Buttercup days, since the early 70s, everybody. 436 00:26:52,229 --> 00:26:53,479 KT: Over 50 years, right? 437 00:26:53,640 --> 00:26:57,880 Suze: Yeah, a long time. So Paula came and we were talking. 438 00:26:58,209 --> 00:27:01,619 Suze: And I never really knew a lot about Cathy, and 439 00:27:01,619 --> 00:27:04,500 Suze: Cathy was in the Olympics. She was such an interesting 440 00:27:04,500 --> 00:27:09,400 Suze: woman years and years ago, and I asked her this question. 441 00:27:09,939 --> 00:27:12,900 Suze: Out of everything that you've accomplished, and I'm telling you 442 00:27:12,900 --> 00:27:17,420 Suze: this is an accomplished woman in so many ways, it's 443 00:27:17,420 --> 00:27:18,400 Suze: not even funny. 444 00:27:19,109 --> 00:27:21,989 Suze: And I said, out of all the things you've done 445 00:27:21,989 --> 00:27:25,609 Suze: in your life, what are you most proud of? What 446 00:27:25,790 --> 00:27:30,149 Suze: made you the happiest? And she thought and she thought, 447 00:27:30,189 --> 00:27:31,988 Suze: and she looked at me and she said, you know 448 00:27:31,989 --> 00:27:35,369 Suze: what made me the happiest? Being able to take care 449 00:27:35,369 --> 00:27:36,449 Suze: of my mother. 450 00:27:37,459 --> 00:27:41,780 Suze: Be there with her not only financially but physically to 451 00:27:41,780 --> 00:27:45,819 Suze: the day that she died that to this day has 452 00:27:45,819 --> 00:27:49,180 Suze: made me the happiest I could ever be. 453 00:27:49,540 --> 00:27:52,739 Suze: So I just wanted to tell all of you such 454 00:27:52,739 --> 00:27:53,419 Suze: a privilege. 455 00:27:53,479 --> 00:27:57,380 KT: It's a real honor to, to see them. They brought 456 00:27:57,380 --> 00:27:59,819 KT: you into the world and for you to escort them 457 00:27:59,819 --> 00:28:01,140 KT: out is an honor, I think. 458 00:28:01,260 --> 00:28:04,060 Suze: Yeah, even if they're not, you know, sometimes when they 459 00:28:04,060 --> 00:28:06,739 Suze: get older they can be a little nasty. So just, 460 00:28:06,819 --> 00:28:09,260 Suze: just know that you got any others for us, KT? 461 00:28:09,354 --> 00:28:11,714 KT: So I have one more question from Anna, Suze, and 462 00:28:11,714 --> 00:28:14,875 KT: I really like this. I hope you're doing well. I'm 463 00:28:14,875 --> 00:28:18,395 KT: reaching out because I truly want to take control of 464 00:28:18,395 --> 00:28:24,954 KT: my financial situation and would value your guidance. So Anna said, Suze, 465 00:28:25,035 --> 00:28:29,755 KT: I currently have about $15,000 in student loan debt and 466 00:28:29,755 --> 00:28:33,194 KT: approximately $5,000 in credit card debt. 467 00:28:33,709 --> 00:28:36,790 KT: Some of my credit cards have been charged off and 468 00:28:36,790 --> 00:28:40,229 KT: I'm unsure what my best options are at this point. 469 00:28:40,550 --> 00:28:44,510 KT: I want to make smart decisions, improve my credit, and 470 00:28:44,510 --> 00:28:48,660 KT: create a solid plan to move forward. Don't you love that? 471 00:28:49,390 --> 00:28:52,910 KT: So what steps would you recommend I take first? Should 472 00:28:52,910 --> 00:28:54,510 KT: I focus on settling 473 00:28:54,614 --> 00:29:00,994 KT: the charged off accounts consolidating or prioritizing my student loans? 474 00:29:01,255 --> 00:29:05,535 KT: I'm ready to take responsibility and make changes. I just 475 00:29:05,535 --> 00:29:09,074 KT: need direction on the best path forward. 476 00:29:09,094 --> 00:29:12,775 Suze: So girlfriend, here's what I want you to understand. I 477 00:29:12,775 --> 00:29:16,734 Suze: want everybody, by the way, to understand this. Once you 478 00:29:16,734 --> 00:29:21,035 Suze: have a loan and it has been charged off. 479 00:29:21,800 --> 00:29:24,520 Suze: Even if you go to settle it, you go to 480 00:29:24,520 --> 00:29:27,849 Suze: pay it off. It is not going to improve your 481 00:29:27,849 --> 00:29:33,520 Suze: FICO score. Everybody, once it is past the 90, 120 482 00:29:33,520 --> 00:29:36,920 Suze: days and then it goes into charge off, let it 483 00:29:36,920 --> 00:29:40,359 Suze: stay there. Do not settle it. Do not do anything 484 00:29:40,359 --> 00:29:44,920 Suze: with it. Just wait to see what happens with it. Also, 485 00:29:45,040 --> 00:29:49,359 Suze: always be aware, Anna, that as time goes on... 486 00:29:50,119 --> 00:29:53,579 Suze: That it is very probable you will get an email 487 00:29:53,579 --> 00:29:58,199 Suze: or a letter from somebody at collection agency that says, Ana, 488 00:29:58,400 --> 00:30:01,400 Suze: you owe this amount of money and we want you 489 00:30:01,400 --> 00:30:02,680 Suze: to pay it now. 490 00:30:03,050 --> 00:30:07,469 Suze: Know that every single state has a statute of limitations 491 00:30:07,729 --> 00:30:11,189 Suze: and once something has been charged off past those years, 492 00:30:11,199 --> 00:30:15,170 Suze: three years, four years, five years, nobody can come after 493 00:30:15,170 --> 00:30:18,770 Suze: you again so I would not do a thing with 494 00:30:18,770 --> 00:30:24,489 Suze: those charge offs on any level. Next, student loan debt 495 00:30:24,729 --> 00:30:28,180 Suze: is debt that cannot be discharged in bankruptcy. 496 00:30:28,689 --> 00:30:32,510 Suze: So that is really one of your number one priorities 497 00:30:32,510 --> 00:30:36,089 Suze: to tackle that and make sure that it gets paid 498 00:30:36,089 --> 00:30:40,290 Suze: and you never go into forbearance or default or delinquent 499 00:30:40,290 --> 00:30:45,430 Suze: with it ever. however, I want your attitude to change. 500 00:30:46,050 --> 00:30:49,209 Suze: I want you to look at your student loan debt 501 00:30:49,209 --> 00:30:50,089 Suze: as good debt. 502 00:30:50,790 --> 00:30:54,790 Suze: It's debt that was created to help you be who 503 00:30:54,790 --> 00:30:59,030 Suze: you are today. There is good debt, Anna, and there 504 00:30:59,030 --> 00:31:04,189 Suze: is bad debt. Bad debt is paying for your present 505 00:31:04,189 --> 00:31:09,380 Suze: day desires, and your cost will be your future day needs. 506 00:31:09,829 --> 00:31:16,589 Suze: Good debt, mortgage debt, student loan debt is paying for 507 00:31:16,589 --> 00:31:18,790 Suze: your present day needs. 508 00:31:19,369 --> 00:31:22,430 Suze: So that one day you'll also be able to pay 509 00:31:22,849 --> 00:31:28,329 Suze: for your future day desires. So just know that little 510 00:31:28,329 --> 00:31:32,050 Suze: by little, and if you really want to make your money, 511 00:31:32,189 --> 00:31:35,689 Suze: make more money, make sure that you do a Roth 512 00:31:35,689 --> 00:31:39,089 Suze: retirement account at work if they offer it, or a 513 00:31:39,089 --> 00:31:42,689 Suze: Roth IRA on your own. I don't care if you 514 00:31:42,689 --> 00:31:47,270 Suze: put $10 in it, $15 whatever it may be. Now, 515 00:31:47,729 --> 00:31:48,969 Suze: one last thing. 516 00:31:50,030 --> 00:31:54,469 Suze: If you are just starting out, take advantage of the 517 00:31:54,469 --> 00:32:02,500 Suze: Ultimate Opportunity Savings account with Alliant Credit Union. You put in $100 518 00:32:02,500 --> 00:32:08,260 Suze: a month on every single month for 12 consecutive months, 519 00:32:08,479 --> 00:32:10,670 Suze: and at the end of the 12th month, guess what? 520 00:32:11,000 --> 00:32:14,760 Suze: They'll give you $100. And in the meantime, your money 521 00:32:14,760 --> 00:32:18,119 Suze: is making about 3.01 APY. 522 00:32:18,739 --> 00:32:21,229 Suze: And hey, if you can't continue it, who cares? You're 523 00:32:21,229 --> 00:32:25,150 Suze: still making the interest rate. So if you do that. 524 00:32:25,819 --> 00:32:29,739 Suze: You'll learn what it feels like to also save. Go 525 00:32:29,739 --> 00:32:36,380 Suze: to myalliant.com, M Y A L L I A N T.com, 526 00:32:36,619 --> 00:32:41,500 Suze: and really open up the Ultimate Opportunity Savings account. What 527 00:32:41,500 --> 00:32:44,819 Suze: a great way for you to start and stay in 528 00:32:44,819 --> 00:32:49,459 Suze: the game and win big time, KT! 529 00:32:49,780 --> 00:32:53,900 KT: What a closure. I like that one. Yeah, go for it, Anna. 530 00:32:54,369 --> 00:32:55,589 KT: Listen to that girl! 531 00:32:56,130 --> 00:33:00,349 Suze: And all. All right sweetheart, so until Sunday with Suze School, 532 00:33:00,609 --> 00:33:02,969 Suze: there's only one thing that we want you all to 533 00:33:02,969 --> 00:33:06,030 Suze: remember when it comes to your money. What is it, KT? 534 00:33:06,530 --> 00:33:09,270 KT: People first, then money, then things. 535 00:33:09,489 --> 00:33:16,290 Suze: Now you stay safe and remember, go to youtube.com/SuzeOrman, check 536 00:33:16,290 --> 00:33:21,530 Suze: out my personal YouTube channel and subscribe. Bye bye.