1 00:00:30,299 --> 00:00:34,889 Suze: May 22, 2025. Welcome everybody to the Women and Money podcast, 2 00:00:35,009 --> 00:00:37,110 KT: and everyone smart enough to listen. 3 00:00:37,159 --> 00:00:39,540 Suze: And KT, this is the day they all wait for. 4 00:00:39,619 --> 00:00:42,339 Suze: They wait for you for me just like me. I'm 5 00:00:42,340 --> 00:00:45,819 Suze: always waiting for her. She is. Why is that? 6 00:00:46,200 --> 00:00:48,759 KT: Because you don't move and I move, so I'm on 7 00:00:48,759 --> 00:00:52,110 KT: the move. I'm always on the move and you don't move. 8 00:00:52,479 --> 00:00:56,200 KT: You're always in the same spot. I leave her I 9 00:00:56,200 --> 00:01:00,349 KT: leave her sometimes on a chair and she's on her 10 00:01:00,349 --> 00:01:01,590 KT: phone or computer. 11 00:01:01,979 --> 00:01:05,360 KT: And I might be gone like for 6 hours when 12 00:01:05,360 --> 00:01:08,819 KT: I come back in, there she is in the same spot. 13 00:01:09,000 --> 00:01:11,518 KT: The only thing that changed is the amount of water 14 00:01:11,519 --> 00:01:12,949 KT: that's still in her bottle, 15 00:01:13,360 --> 00:01:15,839 Suze: I drink a lot. How much, how much 16 00:01:15,839 --> 00:01:16,519 Suze: water do I drink? 17 00:01:17,120 --> 00:01:20,669 KT: Suze consumes at least 1 gallon and a half a day, 18 00:01:20,800 --> 00:01:24,760 KT: so the bottles are 4 bottles make a gallon, and 19 00:01:24,760 --> 00:01:27,440 KT: you go through like 6 of those big, I don't 20 00:01:27,440 --> 00:01:28,720 KT: know how many ounces are in it, 21 00:01:28,760 --> 00:01:31,080 Suze: I, yeah, I drink. Do you all drink a lot 22 00:01:31,080 --> 00:01:31,598 Suze: of water? 23 00:01:32,269 --> 00:01:38,819 Suze: You should, but anyway, today is, Ask KT and Suze anything. But 24 00:01:38,819 --> 00:01:42,029 Suze: before we begin, I just want to say something. A 25 00:01:42,029 --> 00:01:45,769 Suze: lot of you have been writing in, sending in photos 26 00:01:45,769 --> 00:01:49,169 Suze: that you've been seeing on Facebook and Instagram and so 27 00:01:49,169 --> 00:01:52,800 Suze: forth with me endorsing annuities, and you should do this 28 00:01:52,800 --> 00:01:55,839 Suze: and you should do that. I've told you before. 29 00:01:56,449 --> 00:02:01,639 Suze: That is not legit scams. They're scams. They're using my pictures. 30 00:02:01,760 --> 00:02:06,389 Suze: Some of them aren't even my picture. They're artificial intelligence generated. 31 00:02:06,680 --> 00:02:10,070 Suze: So just be aware of it. But thank you so much. 32 00:02:10,270 --> 00:02:12,759 Suze: But I have to tell you, if I were to 33 00:02:12,758 --> 00:02:15,570 Suze: literally go after all the people. 34 00:02:15,625 --> 00:02:19,214 Suze: People that are trying to scam you, it would cost 35 00:02:19,214 --> 00:02:21,853 Suze: me so much money and they would just go away 36 00:02:21,854 --> 00:02:22,975 Suze: and come right back again. 37 00:02:23,755 --> 00:02:25,535 KT: No, I was gonna say we'd make a whole lot 38 00:02:25,535 --> 00:02:29,573 KT: of lawyers rich because that's what happens. You pay the lawyer, 39 00:02:29,615 --> 00:02:32,163 KT: they send a letter, they stop doing it, take down 40 00:02:32,163 --> 00:02:33,464 KT: the ad next week back up. 41 00:02:35,179 --> 00:02:37,720 Suze: The best way to protect all of you is to 42 00:02:37,720 --> 00:02:41,220 Suze: know if you see something with my picture on it, 43 00:02:41,250 --> 00:02:45,960 Suze: it isn't on my website. It isn't on my Instagram. 44 00:02:46,050 --> 00:02:49,690 Suze: You don't see it where I am, where you would 45 00:02:49,690 --> 00:02:51,970 Suze: expect me on the Women and Money community app, so 46 00:02:51,970 --> 00:02:55,850 Suze: to speak, from me. It is not legit. 47 00:02:56,369 --> 00:02:56,740 Suze: All right, KT. 48 00:02:57,809 --> 00:03:01,000 KT: Are we ready? I have some great questions today. Are you ready? 49 00:03:01,330 --> 00:03:03,089 Suze: You say that every time. 50 00:03:03,089 --> 00:03:06,570 KT: No, but some days are better, and this mix is 51 00:03:06,570 --> 00:03:09,529 KT: really good. I like it a lot. All right, OK, 52 00:03:09,649 --> 00:03:10,240 KT: so the first, 53 00:03:10,410 --> 00:03:14,169 Suze: What makes a better versus not? Come on, I want 54 00:03:14,169 --> 00:03:16,198 Suze: to know why you think that. 55 00:03:17,130 --> 00:03:19,820 KT: Sometimes when they're just about Roth. 56 00:03:21,309 --> 00:03:25,149 KT: They're not my favorite days. This day is a really 57 00:03:25,149 --> 00:03:28,429 KT: nice mix, and some of them, if I get a 58 00:03:28,429 --> 00:03:31,070 KT: question and I have no clue what the answer is, 59 00:03:31,160 --> 00:03:34,110 KT: I really like that because I think I, I... 60 00:03:34,110 --> 00:03:34,899 Suze: Then you like every single 61 00:03:34,899 --> 00:03:35,410 Suze: question 62 00:03:35,410 --> 00:03:36,919 KT: That's not true, right? 63 00:03:38,070 --> 00:03:39,570 KT: For instance, this one's interesting. 64 00:03:39,789 --> 00:03:40,009 Suze: All right. 65 00:03:40,190 --> 00:03:43,070 Suze: All right. It says on last Sunday's podcast, you said 66 00:03:43,070 --> 00:03:48,309 Suze: that MicroStrategy's stock might be a good alternative way to 67 00:03:48,309 --> 00:03:50,669 Suze: invest in Bitcoin. Why is that? 68 00:03:51,270 --> 00:03:53,889 KT: So that to me is a really good question. Like 69 00:03:53,889 --> 00:03:55,050 KT: what does it mean? Why is it? 70 00:03:55,050 --> 00:04:00,820 Suze: Do you remember quite a few years ago when I 71 00:04:00,820 --> 00:04:06,050 Suze: bought a serious number of shares in a stock called 72 00:04:06,050 --> 00:04:09,889 Suze: Micro Strategies and I bought it like at 100 and 73 00:04:09,889 --> 00:04:11,720 Suze: I sold it at 1000. 74 00:04:12,220 --> 00:04:15,830 Suze: And it was all about how I decided that I 75 00:04:15,830 --> 00:04:20,429 Suze: could play Bitcoin or invest in Bitcoin because I didn't 76 00:04:20,428 --> 00:04:21,989 Suze: understand the wallet and then this and that. 77 00:04:21,988 --> 00:04:22,869 KT: You didn't understand for a while. 78 00:04:23,329 --> 00:04:27,589 Suze: Remember that I think it was the Washington Post called 79 00:04:27,589 --> 00:04:29,149 Suze: us and wanting to know. 80 00:04:29,980 --> 00:04:32,619 Suze: Did I have inside information? How did I know it 81 00:04:32,619 --> 00:04:35,019 Suze: was going to go up so much? What was going on? 82 00:04:35,119 --> 00:04:38,140 Suze: And I was just like, no, I just thought it 83 00:04:38,140 --> 00:04:40,859 Suze: was gonna work that way and because I made a 84 00:04:40,859 --> 00:04:44,059 Suze: serious sum of money and they were like, oh, so 85 00:04:44,500 --> 00:04:48,579 Suze: that's the same thing now. Micro Strategies and by the 86 00:04:48,579 --> 00:04:50,500 Suze: way its new name is Strategy. 87 00:04:50,890 --> 00:04:54,549 Suze: Is a company that did a lot with the cloud 88 00:04:54,549 --> 00:04:59,589 Suze: and things like that and their CEO decided to take 89 00:04:59,589 --> 00:05:04,070 Suze: most of their cash reserves and to buy Bitcoin with 90 00:05:04,070 --> 00:05:06,070 Suze: it like just the other day I think it was 91 00:05:06,070 --> 00:05:12,149 Suze: on Monday, KT, Michael bought another like 7400 Bitcoin, you know, 92 00:05:12,269 --> 00:05:15,738 Suze: and that was like another $764 million of Bitcoin. So 93 00:05:15,738 --> 00:05:19,549 Suze: to answer all of your questions about that. 94 00:05:20,230 --> 00:05:21,320 Suze: Strategy. 95 00:05:21,899 --> 00:05:28,549 Suze: Is a stock symbol MSTR that does invest big time 96 00:05:28,809 --> 00:05:35,820 Suze: in bitcoins and therefore when bitcoin goes up supposedly... now 97 00:05:35,820 --> 00:05:37,730 Suze: listen to the word supposedly. 98 00:05:38,200 --> 00:05:43,089 Suze: The price of strategy, the stock should also go up, 99 00:05:43,260 --> 00:05:46,769 Suze: but I'm telling you it doesn't always work that way. 100 00:05:47,059 --> 00:05:53,940 Suze: Like yesterday, for instance, Bitcoin was up at 1.35%, but 101 00:05:53,940 --> 00:06:00,969 Suze: Strategy at the exact same time, the stock was down 2%. 102 00:06:01,339 --> 00:06:07,899 Suze: So it doesn't always follow Bitcoin directly. I think today, 103 00:06:08,570 --> 00:06:12,089 Suze: people really are far better off if they are going 104 00:06:12,089 --> 00:06:16,089 Suze: to invest in Bitcoin that they just buy bitcoin directly. 105 00:06:16,170 --> 00:06:19,409 Suze: They can do it in Coinbase, PayPal, all different kinds 106 00:06:19,410 --> 00:06:25,079 Suze: of ways, or they could buy the Ibit IBIT, which 107 00:06:25,079 --> 00:06:26,720 Suze: is the ETF. 108 00:06:27,029 --> 00:06:30,928 Suze: Or Bitcoin, so that's probably what I would be doing. 109 00:06:31,178 --> 00:06:35,969 Suze: But remember back then when we did it KT and MicroStrategy, 110 00:06:36,140 --> 00:06:39,700 Suze: there really wasn't any ETFs of Bitcoin, and it was 111 00:06:39,700 --> 00:06:45,500 Suze: more complicated. But today Strategy really is an alternative. 112 00:06:46,209 --> 00:06:49,679 Suze: If people are looking for even more ways to invest 113 00:06:49,678 --> 00:06:53,390 Suze: that way, but there now are maybe even better ways, 114 00:06:53,399 --> 00:06:58,579 Suze: like I said, buying it directly or through IBIT, the ETF, 115 00:06:58,940 --> 00:07:01,709 Suze: you might be better off just doing it that way. 116 00:07:01,799 --> 00:07:02,359 KT: Is it 117 00:07:02,359 --> 00:07:04,320 KT: safer? Not really. 118 00:07:04,829 --> 00:07:07,010 Suze: Well, I have to tell you, I always felt safer. 119 00:07:07,140 --> 00:07:08,390 KT: You always felt safer. Thats' why you did it. 120 00:07:08,579 --> 00:07:08,709 Suze: I 121 00:07:08,709 --> 00:07:11,500 Suze: felt safer because it was a stock. I could sell it. 122 00:07:11,700 --> 00:07:13,820 Suze: It was in the days when, you 123 00:07:13,820 --> 00:07:13,859 Suze: know... 124 00:07:13,940 --> 00:07:17,250 KT: Remember in the beginning it was complicated because everyone bought 125 00:07:17,250 --> 00:07:20,619 KT: into these bitcoins but didn't know how to get the 126 00:07:20,619 --> 00:07:21,369 KT: money out, things like that 127 00:07:21,980 --> 00:07:23,609 KT: that's what you didn't like. 128 00:07:23,899 --> 00:07:25,339 Suze: KT, do you remember? 129 00:07:26,040 --> 00:07:29,149 Suze: I think it was like 2017. It was somewhere we 130 00:07:29,149 --> 00:07:33,700 Suze: were in Texas and this woman met with us and 131 00:07:33,700 --> 00:07:36,029 Suze: had this whole plan of what she wanted me to 132 00:07:36,029 --> 00:07:38,989 Suze: do with Bitcoin and do you remember all this? 133 00:07:39,369 --> 00:07:42,859 KT: Yeah, I do remember and you were very, very cautious 134 00:07:42,859 --> 00:07:43,910 KT: because it was really complicated. 135 00:07:44,630 --> 00:07:47,510 Suze: Yes, but remember we had decided that we were going 136 00:07:47,510 --> 00:07:51,149 Suze: to risk $100,000 for 137 00:07:51,149 --> 00:07:52,224 KT: about 20... 138 00:07:52,529 --> 00:07:53,070 Suze: 20 Bitcoin 139 00:07:53,070 --> 00:07:54,109 KT: for about $5000. 140 00:07:54,234 --> 00:07:56,255 Suze: And we were all set to do it. 141 00:07:56,464 --> 00:07:58,184 KT: Still nervous because we didn't know how it 142 00:07:58,184 --> 00:08:01,774 Suze: worked, but we couldn't figure out how to do it. 143 00:08:02,385 --> 00:08:04,625 Suze: They kept talking to us about this wallet and you 144 00:08:04,625 --> 00:08:06,265 Suze: needed this, and I said, Well, where do you keep 145 00:08:06,265 --> 00:08:09,494 Suze: the wallet? And in the end we decided, I'm just 146 00:08:09,494 --> 00:08:12,545 Suze: not doing it. Do you know how much that 100,000 147 00:08:12,545 --> 00:08:13,975 Suze: would be worth today, KT? 148 00:08:14,625 --> 00:08:15,975 KT: Like maybe a million? 149 00:08:16,385 --> 00:08:21,265 Suze: Maybe 2,100,000, really? Yeah. Do you regret it? 150 00:08:22,470 --> 00:08:24,500 KT: Yeah, yeah, I do. 151 00:08:24,649 --> 00:08:25,309 Suze: I actually don't. 152 00:08:25,700 --> 00:08:29,369 KT: $2 million with a $100,000 investment. 153 00:08:29,549 --> 00:08:31,950 Suze: Yes, but I don't regret it because during those years 154 00:08:31,950 --> 00:08:35,069 Suze: it went up, down, it was, it may... now the 155 00:08:35,070 --> 00:08:37,419 Suze: goal of money is to be secure. I... 156 00:08:37,419 --> 00:08:38,570 KT: We were never secure in that. 157 00:08:38,789 --> 00:08:41,419 Suze: So I don't care if it was $20 billion. 158 00:08:41,630 --> 00:08:43,260 Suze: I'm still glad we didn't do it. 159 00:08:43,659 --> 00:08:46,700 KT: Ok, this next question is from Roz, and this next 160 00:08:46,700 --> 00:08:51,709 KT: question is something that is very simple, but I think that... 161 00:08:51,710 --> 00:08:53,900 Suze: Roz is very, very active on the Woman and Money Community app. 162 00:08:54,510 --> 00:08:57,179 KT: Yeah, so wait, so listen to what Ro Roz is 163 00:08:57,179 --> 00:09:00,179 KT: relatively young. I'm looking at her photo, and she's relatively young. 164 00:09:00,260 --> 00:09:04,859 KT: She said, Suze, sometimes I struggle with people first, then money. 165 00:09:05,409 --> 00:09:09,400 KT: It's not always a straightforward decision or an easy thing 166 00:09:09,400 --> 00:09:13,280 KT: to balance. I'm looking at taking some time off from 167 00:09:13,280 --> 00:09:17,189 KT: work to join my friend for her birthday. I also 168 00:09:17,190 --> 00:09:21,799 KT: have financial goals, and working helps me meet those goals 169 00:09:21,799 --> 00:09:22,919 KT: little by little. 170 00:09:23,559 --> 00:09:28,760 KT: So I'm wondering, is anyone else out there struggling with this? Suze, 171 00:09:28,799 --> 00:09:32,000 KT: do you have any advice on how to balance financial 172 00:09:32,000 --> 00:09:34,270 KT: planning with life living? 173 00:09:34,429 --> 00:09:35,789 Suze: Roz, listen to me. 174 00:09:37,200 --> 00:09:42,640 Suze: People first, then money, then things, and every one of 175 00:09:42,640 --> 00:09:46,520 Suze: us is different. Every one of us has a different 176 00:09:46,520 --> 00:09:51,289 Suze: comfort level, and we know if we simply learn to 177 00:09:51,289 --> 00:09:54,919 Suze: trust our gut when we are doing something that we 178 00:09:54,919 --> 00:09:58,159 Suze: should not be doing and when we are doing something 179 00:09:58,159 --> 00:10:00,159 Suze: that we should be doing. 180 00:10:01,059 --> 00:10:05,250 Suze: The mere fact that you are asking this question that 181 00:10:05,250 --> 00:10:07,609 Suze: you want to stop working and you want to go 182 00:10:07,609 --> 00:10:10,559 Suze: spend a little time with your friend for her birthday, 183 00:10:10,770 --> 00:10:13,340 Suze: you already know the answer to that, or you would 184 00:10:13,340 --> 00:10:16,090 Suze: not be asking it. You would not be asking it. 185 00:10:16,099 --> 00:10:19,358 Suze: You would be just going and doing it. So when 186 00:10:19,359 --> 00:10:20,699 Suze: it feels right. 187 00:10:21,489 --> 00:10:26,140 Suze: And you do it when it doesn't feel right, you don't, 188 00:10:26,390 --> 00:10:29,390 Suze: and it's really just that simple if you were to 189 00:10:29,390 --> 00:10:33,309 Suze: put yourself first, meaning you are in touch with how 190 00:10:33,309 --> 00:10:36,340 Suze: you feel, you are in touch with how you think. 191 00:10:36,510 --> 00:10:40,059 Suze: You are in touch with what makes you feel secure. 192 00:10:40,909 --> 00:10:46,250 Suze: And you stick by that. You'll always do what's right 193 00:10:46,250 --> 00:10:49,869 Suze: when it comes to people first, then money, then things. 194 00:10:49,929 --> 00:10:51,010 Suze: Next question, KT. 195 00:10:51,929 --> 00:10:56,049 KT: So Suze, this question is from someone in their late 50s, 196 00:10:56,140 --> 00:10:59,450 KT: whereas Roz is relatively young, but it's kind of the 197 00:10:59,450 --> 00:11:03,650 KT: same idea, the same question, says Suze, I'm, I'm in 198 00:11:03,650 --> 00:11:07,968 KT: my late 50s following your advice almost obsessively. 199 00:11:08,289 --> 00:11:12,939 KT: And after my annual physical, it was pointing to high 200 00:11:12,940 --> 00:11:18,229 KT: cardiovascular risk. I have been reflecting on how to differentiate 201 00:11:18,799 --> 00:11:23,598 KT: between a savings and a scarcity mindset. Yes, how to 202 00:11:23,599 --> 00:11:28,179 KT: follow your advice, but still have an abundance of energy 203 00:11:28,400 --> 00:11:31,479 KT: that attracts abundance instead of scarcity, 204 00:11:31,900 --> 00:11:36,239 KT: and suck the joy out of one's life, right? I 205 00:11:36,239 --> 00:11:40,969 KT: think that that getting this cardiovascular risk news put her 206 00:11:40,969 --> 00:11:44,659 KT: in a tizzy. So I would appreciate so much your 207 00:11:44,659 --> 00:11:49,869 KT: secret on this balance which you and KT have obviously mastered. 208 00:11:50,280 --> 00:11:51,760 Suze: Well, KT, have you mastered it? 209 00:11:51,880 --> 00:11:58,900 KT: No, never, never. You never master something that's an unexpected. 210 00:11:59,000 --> 00:12:00,359 KT: You have to face it. 211 00:12:00,669 --> 00:12:03,819 KT: And then you make adjustments and you move on, but I, 212 00:12:03,890 --> 00:12:05,400 KT: you don't master it. 213 00:12:05,650 --> 00:12:09,409 Suze: Huh... That's an interesting answer, KT. Yeah, we're going to 214 00:12:09,409 --> 00:12:13,719 Suze: have to have a talk about that. So the question here... 215 00:12:13,969 --> 00:12:16,130 KT: No, but you see what I mean, she, she freaked 216 00:12:16,130 --> 00:12:17,570 KT: out because she had a physicall. 217 00:12:17,570 --> 00:12:20,689 Suze: I get that, right? So it be the same question 218 00:12:20,690 --> 00:12:26,359 Suze: is that how does she keep an abundance energy, 219 00:12:27,150 --> 00:12:30,349 Suze: when she feels like possibly her life is in danger 220 00:12:30,590 --> 00:12:34,750 Suze: and that energy is what attracts more abundance versus coming 221 00:12:34,750 --> 00:12:40,780 Suze: from a fearful place which attracts scarcity, so my answer 222 00:12:40,780 --> 00:12:43,390 Suze: to that would be you have to stay in a 223 00:12:43,390 --> 00:12:48,419 Suze: realistic place. You have to stay in how you really feel. 224 00:12:49,030 --> 00:12:52,489 Suze: And if you are feeling that you are in a 225 00:12:52,489 --> 00:12:57,380 Suze: scarcity place, a fearful place, you have to ask yourself 226 00:12:57,380 --> 00:13:01,979 Suze: the question, what is making you afraid? Now if it's 227 00:13:01,979 --> 00:13:06,859 Suze: your diagnosis that you have cardiovascular risks, OK, what do 228 00:13:06,859 --> 00:13:07,489 Suze: you do? 229 00:13:07,979 --> 00:13:11,179 Suze: You take that fear and you turn it into action 230 00:13:11,320 --> 00:13:14,000 Suze: and you eat right, you exercise, you make sure that 231 00:13:14,000 --> 00:13:17,479 Suze: you stay healthy and you take it right on and 232 00:13:17,479 --> 00:13:22,159 Suze: that energy tackling it brings this abundance to your life 233 00:13:22,159 --> 00:13:25,239 Suze: and who you are and what you can create, and 234 00:13:25,239 --> 00:13:29,119 Suze: you can change that risk and and do something about it. 235 00:13:29,510 --> 00:13:34,699 Suze: So action is what is needed in order to change 236 00:13:34,700 --> 00:13:40,179 Suze: from scarcity to abundance and your thoughts and your feelings, 237 00:13:40,190 --> 00:13:44,299 Suze: so don't get yourself down every time I am down. 238 00:13:44,770 --> 00:13:47,229 Suze: I need to do something to get myself up because 239 00:13:47,229 --> 00:13:49,510 Suze: there are plenty of times that I get down, right, KT? 240 00:13:49,640 --> 00:13:50,630 KT: Oh yeah, you 241 00:13:50,630 --> 00:13:53,789 KT: know, especially if it's a health struggle, but one of 242 00:13:53,789 --> 00:13:57,229 KT: the things Suze and I have absolutely mastered, and I 243 00:13:57,229 --> 00:14:01,030 KT: can tell you with great conviction, we have mastered something 244 00:14:01,030 --> 00:14:04,950 KT: so simple. It's called the what ifs of life, and 245 00:14:04,950 --> 00:14:08,469 KT: we know that at our age we've mastered it, we've 246 00:14:08,469 --> 00:14:09,909 KT: seen so much of it. 247 00:14:10,239 --> 00:14:12,940 KT: That we're not afraid. I don't think you and I 248 00:14:12,940 --> 00:14:16,090 KT: have fear for the what ifs. We just know that 249 00:14:16,340 --> 00:14:18,169 KT: they can happen and we can take 250 00:14:18,169 --> 00:14:18,579 KT: them on. 251 00:14:18,619 --> 00:14:21,299 Suze: But that's because we also, KT, which is a very 252 00:14:21,299 --> 00:14:25,169 Suze: difficult thing to do, is we both have faith that 253 00:14:25,169 --> 00:14:26,619 Suze: everything happens for the best. 254 00:14:27,130 --> 00:14:30,590 Suze: So when you can have faith that everything happens for 255 00:14:30,590 --> 00:14:35,150 Suze: the best and everything you can tackle then with an 256 00:14:35,150 --> 00:14:40,440 Suze: abundant energy versus a scarcity one. Now is that easy? No, 257 00:14:41,390 --> 00:14:41,719 KT: No way. 258 00:14:42,270 --> 00:14:43,900 Suze: is it but is it possible and is. 259 00:14:44,059 --> 00:14:47,679 Suze: Probable and is it necessary? Oh, you bet it is. 260 00:14:47,770 --> 00:14:48,859 Suze: All right, next KT. 261 00:14:49,090 --> 00:14:52,609 KT: OK, so this next question is a good question. It says, hey, 262 00:14:52,690 --> 00:14:55,849 KT: KT and Suze, I recently got all of my must 263 00:14:55,849 --> 00:14:59,580 KT: have documents signed and notarized, but I'm wondering if I 264 00:14:59,580 --> 00:15:00,929 KT: did something wrong. 265 00:15:01,380 --> 00:15:05,010 KT: My name on all the documents is my full name 266 00:15:05,010 --> 00:15:08,780 KT: spelled out. I signed my name, but I used an 267 00:15:08,780 --> 00:15:13,049 KT: initial for my middle name on all of my documents. 268 00:15:13,460 --> 00:15:16,539 KT: Will these documents be valid or do I need to 269 00:15:16,539 --> 00:15:21,299 KT: resign my full name on the documents and go through 270 00:15:21,299 --> 00:15:21,580 KT: getting 271 00:15:21,656 --> 00:15:24,195 KT: everything notarized all over again? 272 00:15:24,366 --> 00:15:29,565 Suze: Truthfully, you're fine. It's really the signature is there in 273 00:15:29,565 --> 00:15:33,245 Suze: front of a notary just to really verify that it 274 00:15:33,245 --> 00:15:37,995 Suze: is you who signed it and that's what is important. 275 00:15:38,325 --> 00:15:41,966 Suze: So truthfully, I think you're absolutely fine no matter what. 276 00:15:42,081 --> 00:15:45,312 Suze: If it's freaking you out, you can always do an 277 00:15:45,312 --> 00:15:48,901 Suze: affidavit or something that says this is my full name, 278 00:15:49,192 --> 00:15:53,911 Suze: sign it again, but I think you're absolutely fine. Next question, my KT. 279 00:15:54,512 --> 00:15:57,591 KT: OK, this is from Portia. Love this question. You have 280 00:15:57,591 --> 00:16:00,111 KT: to listen to why I love it so much at 281 00:16:00,111 --> 00:16:04,072 KT: the end. OK, listen up, everyone. Hi, Suze and KT. 282 00:16:04,900 --> 00:16:11,890 KT: I have transferred $85,000 from my previous employer's 401k into 283 00:16:11,890 --> 00:16:18,679 KT: my variable annuity at Fidelity in September 2022. Here's my question: 284 00:16:18,969 --> 00:16:21,530 KT: Is there a way to calculate whether it makes more 285 00:16:21,530 --> 00:16:23,090 KT: sense to roll over the remaining 286 00:16:23,184 --> 00:16:27,494 KT: funds in my Fidelity IRA now and pay the surrender 287 00:16:27,494 --> 00:16:32,054 KT: charge or wait it out. I'm currently paying about $380 288 00:16:32,054 --> 00:16:37,614 KT: per quarter in fees. The surrender schedule right now is 7% 289 00:16:37,614 --> 00:16:40,215 KT: in 3 and a half months, and then it drops 290 00:16:40,215 --> 00:16:44,215 KT: to 6% in the ninth year it goes to 0. 291 00:16:44,414 --> 00:16:48,844 Suze: What she wants to know is that should she surrender 292 00:16:49,094 --> 00:16:51,015 Suze: this variable annuity. 293 00:16:51,630 --> 00:16:56,169 Suze: Or stay in it until 9 years is up, and 294 00:16:56,169 --> 00:16:58,130 Suze: how do you figure that out? OK, go on. 295 00:16:59,099 --> 00:17:00,909 Suze: Anything else you want to say? Yeah, 296 00:17:01,119 --> 00:17:05,319 KT: OK, so wait. So, so here's what she said. One 297 00:17:05,319 --> 00:17:09,050 KT: last fun note, my name is pronounced like the car Porsche. 298 00:17:10,209 --> 00:17:14,699 KT: My husband overheard the Unstoppable song while I was listening 299 00:17:14,699 --> 00:17:18,089 KT: to your podcast. Since he knows I go full speed 300 00:17:18,089 --> 00:17:21,959 KT: at Disney and that my name is Portia, he made 301 00:17:21,959 --> 00:17:26,719 KT: a shirt for our family Disney trip that said, I'm Unstoppable. 302 00:17:26,969 --> 00:17:31,329 KT: I'm a Porsche with no brakes. So she said, thanks 303 00:17:31,329 --> 00:17:34,329 KT: for your wisdom and confidence. Suze, there's a photo of 304 00:17:34,329 --> 00:17:36,760 KT: her and we've got to try to post this. 305 00:17:37,280 --> 00:17:40,310 Suze: In the women and money community app. 306 00:17:40,310 --> 00:17:42,030 KT: I'm gonna get, I'm gonna get her to give us 307 00:17:42,030 --> 00:17:42,729 KT: permission to do. 308 00:17:43,229 --> 00:17:47,189 Suze: I don't need her permission. I'm posting it. All right, 309 00:17:47,469 --> 00:17:50,188 Suze: remember you send in something to me and I like it. 310 00:17:50,300 --> 00:17:55,260 Suze: I'm just gonna post it just that simple. So what's funny, KT, 311 00:17:55,310 --> 00:17:58,469 Suze: is that I actually wrote Portia because I saw the 312 00:17:58,469 --> 00:18:02,119 Suze: picture and I just cute, so cute. That's why I 313 00:18:02,119 --> 00:18:05,729 Suze: know I'm gonna post it. Here's the bottom line, Portia, 314 00:18:05,869 --> 00:18:06,670 Suze: very easy. 315 00:18:07,209 --> 00:18:12,040 Suze: If you keep this policy all the way until the 316 00:18:12,040 --> 00:18:16,199 Suze: 9th year when there are no longer any surrender fees 317 00:18:16,199 --> 00:18:22,719 Suze: whatsoever for you, you will have paid approximately $9120 in fees. 318 00:18:23,160 --> 00:18:26,679 Suze: Depending on what year you happen to really be in, 319 00:18:26,959 --> 00:18:29,579 Suze: in terms of this policy because I don't have the 320 00:18:29,579 --> 00:18:30,958 Suze: exact numbers here. 321 00:18:31,250 --> 00:18:35,060 Suze: But your surrender fee will really could be anywhere from 322 00:18:35,060 --> 00:18:40,239 Suze: $6300 to $6900 whatever it may be, you'll have to 323 00:18:40,239 --> 00:18:46,280 Suze: figure it out exactly. Whatever it is, absolutely surrender it. 324 00:18:46,520 --> 00:18:49,030 Suze: It makes no sense for you to be in it 325 00:18:49,030 --> 00:18:53,439 Suze: and really invest that money within the IRA and something 326 00:18:53,439 --> 00:18:56,239 Suze: that makes sense. You might even want to look at 327 00:18:56,239 --> 00:19:00,280 Suze: converting it little by little to a Roth IRA 328 00:19:00,660 --> 00:19:04,468 Suze: and really save money in the long run. So that 329 00:19:04,469 --> 00:19:07,270 Suze: is the answer there. All right, next KT. 330 00:19:07,709 --> 00:19:10,188 KT: OK, next question. I love this is from Dottie. 331 00:19:11,079 --> 00:19:14,319 KT: When's the last time you met anyone named Dottie? I 332 00:19:14,319 --> 00:19:17,229 KT: love that. Reminds me of my teachers and everything. 333 00:19:17,800 --> 00:19:18,959 Suze: You had teachers by the name of Dottie? 334 00:19:19,079 --> 00:19:20,920 KT: Yeah, I mean, it's kind of a name from the 335 00:19:20,920 --> 00:19:21,599 KT: 50s and 336 00:19:21,599 --> 00:19:22,438 KT: 60s. 337 00:19:22,670 --> 00:19:24,829 Suze: Was there like a comic book? 338 00:19:25,459 --> 00:19:27,140 KT: Not that I remember with Dottie? 339 00:19:27,339 --> 00:19:30,379 Suze: Dottie kind of like that name though. All right, anyway, 340 00:19:30,949 --> 00:19:31,379 Suze: Hi Dottie. 341 00:19:31,900 --> 00:19:35,698 KT: Hi Dottie. Hi Suze and KT. I love listening to 342 00:19:35,699 --> 00:19:39,099 KT: you both. Thank you for your wisdom and heart you 343 00:19:39,099 --> 00:19:40,270 KT: share every week. 344 00:19:40,420 --> 00:19:41,619 Suze: KT, who has a bigger heart? 345 00:19:42,300 --> 00:19:45,099 KT: Oh, KT, I do. All right, you know I do. OK, 346 00:19:45,250 --> 00:19:46,849 KT: so ready. Dottie 347 00:19:48,199 --> 00:19:52,300 KT: said, I am a newly single 65 year old healthy 348 00:19:52,300 --> 00:19:54,660 KT: woman still working part time. 349 00:19:55,020 --> 00:19:59,319 KT: I bring home $3000 a month from work and receive 350 00:19:59,319 --> 00:20:04,290 KT: $1600 in Social Security. I hope to keep working for 351 00:20:04,290 --> 00:20:08,199 KT: another 3 to 4 years with about the same income 352 00:20:08,199 --> 00:20:09,280 KT: during that time. 353 00:20:09,800 --> 00:20:17,589 KT: Financially I have 350,000 in CDs, 250,000 in my IRA, 354 00:20:18,040 --> 00:20:21,800 KT: no debt. I own my own car. I rent, but 355 00:20:21,800 --> 00:20:25,520 KT: my living expenses are very low, and I still make 356 00:20:25,520 --> 00:20:26,790 KT: sure I have fun. 357 00:20:27,180 --> 00:20:31,218 KT: So here's the question. I'm wondering how far behind am 358 00:20:31,219 --> 00:20:35,819 KT: I in retirement savings at this stage, and will I 359 00:20:35,819 --> 00:20:39,449 KT: realistically be able to retire in a few years, like 360 00:20:39,449 --> 00:20:43,409 KT: in 3 or 4 years? So Dottie wants to know 361 00:20:43,739 --> 00:20:45,819 KT: how am I doing, Suze? 362 00:20:46,599 --> 00:20:49,979 Suze: Oh, Dottie, I have to tell you it's not how 363 00:20:49,979 --> 00:20:55,089 Suze: far behind you are in retirement savings at this stage. 364 00:20:55,420 --> 00:20:59,660 Suze: It's how far you're behind in your thoughts about who 365 00:20:59,660 --> 00:21:03,420 Suze: you are. It's how far behind you happen to be 366 00:21:03,515 --> 00:21:07,824 Suze: in comparing yourself to others, because others may be making 367 00:21:07,824 --> 00:21:10,584 Suze: so much more money than you, have so much more 368 00:21:10,584 --> 00:21:14,734 Suze: money than you, and have 10 times more bills than you. 369 00:21:14,905 --> 00:21:17,494 Suze: I've always said it's not how much money you have. 370 00:21:17,744 --> 00:21:20,494 Suze: It's going to determine if you can retire or not. 371 00:21:20,824 --> 00:21:24,625 Suze: It's what are your bills? What does that money have 372 00:21:24,625 --> 00:21:28,584 Suze: to go to pay for? You, my dear, are so 373 00:21:28,584 --> 00:21:29,744 Suze: far ahead. 374 00:21:30,520 --> 00:21:33,619 Suze: Are you listening to me, Dottie? You are not behind. 375 00:21:33,670 --> 00:21:38,829 Suze: You are ahead of most everybody out there. This isn't 376 00:21:38,829 --> 00:21:41,669 Suze: about your age. This isn't about the amount of money 377 00:21:41,670 --> 00:21:45,310 Suze: you have. It's what you did with the money during 378 00:21:45,310 --> 00:21:47,869 Suze: your working years, and you have no debt. You own 379 00:21:47,869 --> 00:21:51,188 Suze: your car outright. You have 250,000 in your IRA. You 380 00:21:51,189 --> 00:21:55,109 Suze: have 350,000 in CDs, and you're going to get Social Security. 381 00:21:55,189 --> 00:21:57,189 Suze: Are you kidding me? You are. 382 00:21:57,280 --> 00:22:01,708 Suze: going to be just fine as long as your expenses 383 00:22:01,709 --> 00:22:07,420 Suze: are always less than the money that you have coming in. KT, next. 384 00:22:07,949 --> 00:22:09,869 KT: Yeah, good, good on you, Dottie. 385 00:22:10,069 --> 00:22:10,310 Suze: You know 386 00:22:10,310 --> 00:22:13,119 Suze: what? It makes me sad. I know what makes me 387 00:22:13,119 --> 00:22:16,750 Suze: sad because so many times people are out there and 388 00:22:16,750 --> 00:22:19,709 Suze: they look at people driving fancy cars or living in 389 00:22:19,709 --> 00:22:22,869 Suze: big homes or whatever and they go, Oh, I'm just 390 00:22:22,869 --> 00:22:25,109 Suze: so far behind. This is all I have. 391 00:22:25,589 --> 00:22:27,979 Suze: And I know I've told this story before, but I'm 392 00:22:27,979 --> 00:22:30,579 Suze: going to just briefly tell it. For years I did 393 00:22:30,579 --> 00:22:35,010 Suze: the retirement planning, as you know, for Pacific Gas and Electric, 394 00:22:35,579 --> 00:22:39,739 Suze: which is the utility company for Northern California, and hundreds 395 00:22:39,739 --> 00:22:43,180 Suze: of people would come see me. Those people that worked 396 00:22:43,180 --> 00:22:46,540 Suze: on the gas lines and that had $2000 a month 397 00:22:46,540 --> 00:22:51,260 Suze: pensions that had maybe $200,000 in their 401ks and everything. 398 00:22:51,770 --> 00:22:56,780 Suze: They were so able to retire it's not even funny. 399 00:22:57,010 --> 00:23:01,449 Suze: They spent maybe $600 a year on clothes. They owned 400 00:23:01,449 --> 00:23:04,729 Suze: everything outright, and their dream was a Fifth wheel. That 401 00:23:04,729 --> 00:23:08,728 Suze: was it. And then those people that were in the 402 00:23:08,729 --> 00:23:14,689 Suze: executive section of BG&E $13,000 a month pensions, hundreds of 403 00:23:14,689 --> 00:23:17,688 Suze: thousands if not millions, in their 401k plan. 404 00:23:17,939 --> 00:23:23,290 Suze: And everything they could not afford to retire cause it 405 00:23:23,290 --> 00:23:26,619 Suze: wouldn't support their 3 homes, their 3 cars, their boat, 406 00:23:26,689 --> 00:23:30,849 Suze: their this and that. So all the people that look 407 00:23:30,849 --> 00:23:33,280 Suze: at those people who make a lot of money and 408 00:23:33,280 --> 00:23:37,589 Suze: everything and they judge themselves against them, trust me, most 409 00:23:37,589 --> 00:23:41,409 Suze: of you are so much better off financially speaking, bottom 410 00:23:41,410 --> 00:23:44,410 Suze: line wise than the people that you see out there. 411 00:23:44,469 --> 00:23:47,770 Suze: It's not even funny, so don't ever think you're behind. 412 00:23:48,479 --> 00:23:51,359 Suze: Don't ever insult yourself. You know there's a saying when 413 00:23:51,359 --> 00:23:55,010 Suze: you insult yourself, you insult God. You might all want to, 414 00:23:55,060 --> 00:23:56,959 Suze: you might want to all think about that, all right, 415 00:23:57,079 --> 00:23:57,319 Suze: go on. 416 00:23:57,400 --> 00:24:02,119 KT: I like that saying. So next question is from Robert. Hi, Suze, 417 00:24:02,239 --> 00:24:05,469 KT: I hope you're doing well. I've been with my company 418 00:24:05,469 --> 00:24:08,429 KT: for 12 years, and I don't plan to leave any 419 00:24:08,430 --> 00:24:09,280 KT: time soon. 420 00:24:09,660 --> 00:24:11,920 KT: But I have a question about what to do with 421 00:24:11,920 --> 00:24:16,550 KT: my Roth 401k, if I leave. Would it be best 422 00:24:16,839 --> 00:24:20,319 KT: to leave the money with my current company, roll the 423 00:24:20,319 --> 00:24:24,119 KT: money into a Roth IRA using Fidelity or Vanguard, someone 424 00:24:24,119 --> 00:24:28,560 KT: like that, or roll the money into a Roth 401k 425 00:24:28,800 --> 00:24:32,709 KT: at the new company? So just curious if you tend 426 00:24:32,709 --> 00:24:35,280 KT: to prefer one of these options over the others. 427 00:24:35,699 --> 00:24:41,000 KT: Robert is young still. He's 38, so not close to retirement. 428 00:24:41,780 --> 00:24:45,300 Suze: Robert, here's a few things that I want you to 429 00:24:45,300 --> 00:24:50,359 Suze: think about. The answer to that question isn't what I 430 00:24:50,359 --> 00:24:54,780 Suze: tend to prefer or KT might prefer. It's what you 431 00:24:54,780 --> 00:24:57,979 Suze: feel comfortable with. Years from now. 432 00:24:58,599 --> 00:25:00,959 Suze: Cause you've only been there let's say 12 years and 433 00:25:00,959 --> 00:25:04,839 Suze: you're still so young, so you could obviously still be 434 00:25:04,839 --> 00:25:09,188 Suze: there another 20-30 years or whatever it may be truthfully, 435 00:25:09,439 --> 00:25:13,770 Suze: you could have amassed a great deal of money within 436 00:25:13,770 --> 00:25:18,839 Suze: that 401k, and you might feel secure with the investments 437 00:25:18,839 --> 00:25:21,150 Suze: within that Roth 401k. 438 00:25:22,010 --> 00:25:25,339 Suze: You might like that their fee structure is down and 439 00:25:25,339 --> 00:25:28,300 Suze: what they're offering you to invest in is things that 440 00:25:28,300 --> 00:25:31,780 Suze: you're familiar with. It's very difficult if all of a 441 00:25:31,780 --> 00:25:34,458 Suze: sudden you have a million dollars or $2 million in 442 00:25:34,459 --> 00:25:36,020 Suze: a retirement account, which you could. 443 00:25:36,680 --> 00:25:40,099 Suze: And now you have to liquidate it and transfer it 444 00:25:40,099 --> 00:25:42,339 Suze: over to a Roth IRA. 445 00:25:43,459 --> 00:25:45,709 Suze: Now what are you going to invest in? What are 446 00:25:45,709 --> 00:25:47,930 Suze: you going to do with it? So you're going to 447 00:25:47,930 --> 00:25:51,550 Suze: have to decide what is best for you at the 448 00:25:51,550 --> 00:25:56,429 Suze: time when you actually do it. So you ask, should 449 00:25:56,430 --> 00:25:58,948 Suze: you roll the money into a Roth 401k at a 450 00:25:58,949 --> 00:26:02,510 Suze: new company? No, you would either leave the money with 451 00:26:02,510 --> 00:26:05,310 Suze: your current company or you would roll the money into 452 00:26:05,310 --> 00:26:10,310 Suze: a Roth IRA, either one, whatever you are comfortable with. 453 00:26:10,760 --> 00:26:12,679 Suze: All right, Ms. Travis, it seems like you don't have 454 00:26:12,680 --> 00:26:14,040 Suze: any more paper in front of you. 455 00:26:14,680 --> 00:26:16,520 KT: No, we went through all my questions. Did you like them? 456 00:26:16,640 --> 00:26:18,599 KT: Did everyone listening, did you like this mix? 457 00:26:18,959 --> 00:26:20,670 Suze: Oh, like they're going to talk to you right now. 458 00:26:20,880 --> 00:26:21,479 KT: Do you like it? 459 00:26:21,640 --> 00:26:23,709 Suze: Do you not care if I liked it? 460 00:26:24,000 --> 00:26:24,880 KT: You did like it. 461 00:26:24,959 --> 00:26:25,489 Suze: How do you know? 462 00:26:25,579 --> 00:26:27,829 KT: Because I could tell by the expression on your face. 463 00:26:28,000 --> 00:26:28,989 KT: You're smiling 464 00:26:28,989 --> 00:26:32,109 Suze: I'm smiling. I'll tell you what I liked about it. 465 00:26:32,359 --> 00:26:35,800 Suze: I liked that you brought in the emotional and the 466 00:26:35,800 --> 00:26:38,680 Suze: psychological part of money. 467 00:26:39,250 --> 00:26:43,229 Suze: What really aggravates me is when people treat money just 468 00:26:43,229 --> 00:26:47,780 Suze: like money. They don't recognize the emotions. They don't recognize 469 00:26:48,150 --> 00:26:52,790 Suze: the true pressure that you're under psychologically speaking, especially if 470 00:26:52,790 --> 00:26:55,780 Suze: you're in a relationship and you have disagreements about money 471 00:26:55,780 --> 00:26:57,750 Suze: and all of that. So I love that that's the 472 00:26:57,750 --> 00:27:00,989 Suze: way that you went. Now listen to me. Sunday is 473 00:27:00,989 --> 00:27:03,109 Suze: going to be an interesting Suze School. 474 00:27:03,849 --> 00:27:07,589 Suze: And a little bit of a slap down, right, because 475 00:27:07,880 --> 00:27:14,040 Suze: I've done Suze Schools on annuities over the years and 476 00:27:14,040 --> 00:27:16,438 Suze: I've told you why I like them and why I 477 00:27:16,439 --> 00:27:19,599 Suze: don't like them, but the mere fact that there are 478 00:27:19,599 --> 00:27:23,599 Suze: so many comments on the Women and Money community app 479 00:27:23,599 --> 00:27:27,000 Suze: about annuities and does Suze like them? Does she not? 480 00:27:27,000 --> 00:27:28,280 Suze: Really aggravates me. 481 00:27:28,770 --> 00:27:31,579 Suze: So therefore I'm going to be doing a Suze School 482 00:27:31,579 --> 00:27:34,939 Suze: on it for all of you to understand that you 483 00:27:34,939 --> 00:27:39,020 Suze: yourselves have to learn when an annuity makes sense and 484 00:27:39,020 --> 00:27:41,409 Suze: when an annuity does not make sense. 485 00:27:41,969 --> 00:27:45,010 Suze: And not do things because I'm doing it or I'm 486 00:27:45,010 --> 00:27:49,189 Suze: not doing it. That's just ridiculous. Oh, until Sunday. There's 487 00:27:49,189 --> 00:27:51,260 Suze: really only one thing that we want them to remember, 488 00:27:51,319 --> 00:27:53,660 Suze: isn't it true, KT, when it comes to their money? 489 00:27:54,060 --> 00:27:54,989 Suze: What is it, girlfriend? 490 00:27:55,150 --> 00:27:58,739 KT: People first, then money, then things. 491 00:27:58,989 --> 00:28:05,579 Suze: And Roz, hopefully our answer helped you, but until Sunday, 492 00:28:05,829 --> 00:28:08,849 Suze: all of you stay safe. Bye bye.