1 00:00:31,640 --> 00:00:35,610 Suze: May 19th 2022 . 2 00:00:35,620 --> 00:00:38,030 KT: What a busy month. This has been Suze. 3 00:00:38,030 --> 00:00:40,190 Suze: KT, Maybe we have too many friends. 4 00:00:40,200 --> 00:00:42,140 KT: I know we have a lot of birthdays. It's the 5 00:00:42,140 --> 00:00:46,210 KT: month of May. The merry month of May. Unbelievable. Tomorrow. 6 00:00:46,210 --> 00:00:50,050 KT: I know we have first and most important. My little 7 00:00:50,050 --> 00:00:52,360 KT: sister Barbara, Happy Birthday Babs. 8 00:00:52,360 --> 00:00:53,250 Suze: How old is she going to be? 9 00:00:55,310 --> 00:00:55,960 KT: 61 10 00:00:56,040 --> 00:00:57,100 KT: and then Grover, 11 00:00:57,100 --> 00:00:59,430 Suze: your dear friend. And then we have 12 00:00:59,430 --> 00:01:01,340 Suze: Maureen Davis who lives with us 13 00:01:01,340 --> 00:01:02,450 Suze: here on the island 14 00:01:02,460 --> 00:01:03,010 KT: and 15 00:01:03,480 --> 00:01:05,289 Suze: two days ago was 16 00:01:05,290 --> 00:01:06,050 Suze: Jennifer Littlehails' 17 00:01:06,790 --> 00:01:08,459 Suze: birthday. And 18 00:01:08,459 --> 00:01:09,640 KT: so it's 19 00:01:09,640 --> 00:01:10,550 Suze: just you know, 20 00:01:11,180 --> 00:01:13,170 KT: we have three or four or five more coming up 21 00:01:13,170 --> 00:01:16,260 KT: in the week after that. So happy birthday. Everybody 22 00:01:16,270 --> 00:01:17,460 Suze: Alright. Welcome 23 00:01:17,790 --> 00:01:18,870 KT: Are they all Tauruses? I think so . 24 00:01:19,920 --> 00:01:23,510 Suze: Um No, because now they're going into Gemini because they've 25 00:01:23,510 --> 00:01:24,930 Suze: passed the date 26 00:01:24,930 --> 00:01:27,060 KT: But but 20 is a Taurus 27 00:01:27,440 --> 00:01:28,080 KT: for sure. 28 00:01:28,080 --> 00:01:30,650 Suze: For sure. Yes. But then when we go to the 21st, 29 00:01:31,110 --> 00:01:32,320 Suze: we go into Gemini 30 00:01:32,330 --> 00:01:34,580 Suze: which is me, which 31 00:01:34,580 --> 00:01:35,680 Suze: is me. What 32 00:01:35,680 --> 00:01:36,650 Suze: did you get me? 33 00:01:37,440 --> 00:01:37,630 KT: I 34 00:01:37,630 --> 00:01:39,310 KT: don't give you a birthday gift. 35 00:01:39,319 --> 00:01:40,020 KT: You are my 36 00:01:40,020 --> 00:01:41,060 Suze: gift. I know we 37 00:01:41,060 --> 00:01:43,369 KT: don't exchange gifts if you recall. 38 00:01:43,370 --> 00:01:46,040 KT: We do. We make things, we make cards. 39 00:01:46,040 --> 00:01:47,009 Suze: You want to know when I'm 40 00:01:47,010 --> 00:01:49,130 Suze: getting KT for her 41 00:01:49,140 --> 00:01:49,970 KT: 70th 42 00:01:49,970 --> 00:01:51,500 Suze: birthday. So what 43 00:01:51,510 --> 00:01:52,030 Suze: you do 44 00:01:52,030 --> 00:01:52,950 Suze: know what 45 00:01:53,340 --> 00:01:53,990 Suze: I have 46 00:01:53,990 --> 00:01:55,480 Suze: decided because 47 00:01:55,940 --> 00:01:56,900 Suze: two years ago 48 00:01:56,900 --> 00:01:59,100 Suze: we were all going to go salmon fishing by the way. 49 00:01:59,100 --> 00:02:02,090 Suze: This is asked Suze and KT anything. But anyway, 50 00:02:02,090 --> 00:02:03,680 Suze: besides that we 51 00:02:03,680 --> 00:02:05,730 Suze: were going to go salmon fishing in British 52 00:02:05,730 --> 00:02:06,680 Suze: Columbia 53 00:02:06,970 --> 00:02:08,760 Suze: and then Covid happened and then 54 00:02:08,760 --> 00:02:10,130 Suze: my injuries 55 00:02:10,130 --> 00:02:12,100 Suze: started and da da da da 56 00:02:12,110 --> 00:02:12,950 Suze: and 57 00:02:13,340 --> 00:02:13,590 Suze: I 58 00:02:13,590 --> 00:02:20,150 Suze: am definitely going with her for sure sure. No matter what. 59 00:02:20,540 --> 00:02:21,109 Suze: I've been 60 00:02:21,110 --> 00:02:22,280 Suze: afraid to go 61 00:02:22,280 --> 00:02:24,400 Suze: With her. I've been afraid to do that trip. So 62 00:02:24,400 --> 00:02:27,370 Suze: this trip has been postponed now for two 63 00:02:27,370 --> 00:02:28,040 KT: years. 64 00:02:28,940 --> 00:02:31,530 Suze: But we're doing it and I've decided, I don't care, 65 00:02:31,540 --> 00:02:32,320 Suze: I'm doing 66 00:02:32,320 --> 00:02:33,160 KT: it. I'm facing 67 00:02:33,160 --> 00:02:33,860 Suze: my fear 68 00:02:33,870 --> 00:02:36,950 Suze: Also, I just have to tell all of you something else. 69 00:02:37,840 --> 00:02:39,109 Suze: Do you know what I want to tell them about fa 70 00:02:39,990 --> 00:02:42,380 KT: She's going to go back on the stage. 71 00:02:42,389 --> 00:02:43,350 Suze: I've accepted 72 00:02:43,350 --> 00:02:45,410 Suze: to talks for 23 73 00:02:45,490 --> 00:02:48,489 Suze: 2020 23 which will tell you when we get there. 74 00:02:48,490 --> 00:02:50,650 Suze: But Susie finally said, 75 00:02:50,650 --> 00:02:51,690 KT: KT book it. 76 00:02:51,950 --> 00:02:54,490 KT: I have been postponing and canceling 77 00:02:54,490 --> 00:02:55,900 KT: so many requests 78 00:02:56,139 --> 00:02:58,600 KT: so many. And she finally looked to me, she said, 79 00:02:58,840 --> 00:03:01,860 KT: I am going to face my fear I'm going back 80 00:03:01,860 --> 00:03:02,920 KT: on the stage. 81 00:03:02,930 --> 00:03:03,760 Suze: So for 82 00:03:03,760 --> 00:03:04,710 Suze: all of you who 83 00:03:04,710 --> 00:03:07,290 Suze: wrote me to say you could do it, Suze. She's 84 00:03:07,290 --> 00:03:08,410 Suze: going to give it a go. 85 00:03:08,410 --> 00:03:09,350 Suze: I've booked it. 86 00:03:09,350 --> 00:03:11,670 Suze: That means I have to show up because I said 87 00:03:11,669 --> 00:03:13,110 Suze: I would All right, KT 88 00:03:13,440 --> 00:03:14,139 Suze: what do you got for 89 00:03:14,139 --> 00:03:15,060 Suze: us today? 90 00:03:15,060 --> 00:03:16,020 KT: So it's May 91 00:03:16,020 --> 00:03:17,450 KT: 19th. This is the 92 00:03:17,450 --> 00:03:18,850 KT: ask Susie, 93 00:03:18,940 --> 00:03:21,680 KT: KT asks Suzy anything podcast. 94 00:03:21,680 --> 00:03:22,060 Suze: Also 95 00:03:22,060 --> 00:03:23,350 Suze: before you ask 96 00:03:24,040 --> 00:03:26,340 Suze: for those of you who want to write in 97 00:03:26,340 --> 00:03:27,330 Suze: a question. 98 00:03:27,340 --> 00:03:30,120 Suze: You can do so on the Women and Money app, 99 00:03:30,120 --> 00:03:31,290 Suze: download it on Apple 100 00:03:31,300 --> 00:03:34,389 Suze: apps or Google play or go to ask suze podcast at gmail.com 101 00:03:38,120 --> 00:03:40,690 Suze: and you can send your question in there 102 00:03:40,700 --> 00:03:42,380 Suze: and if chosen we will 103 00:03:42,380 --> 00:03:45,150 Suze: answer it on the podcast. Alright, KT, go on. 104 00:03:45,160 --> 00:03:50,010 KT: Okay, this is from Marlena. Dear Suzy. I'm ready to 105 00:03:50,010 --> 00:03:54,150 KT: fund my trust and prepared to transfer my real estate 106 00:03:54,150 --> 00:03:58,550 KT: property currently held in community property in California. Do I 107 00:03:58,550 --> 00:04:02,630 KT: need to hire a title company to move my property 108 00:04:02,640 --> 00:04:04,860 KT: into my trust or 109 00:04:05,040 --> 00:04:08,240 KT: do I go to the county tax assessor's office 110 00:04:08,440 --> 00:04:11,660 KT: to change the title? If the latter, where do I 111 00:04:11,660 --> 00:04:15,160 KT: find the documentation to make this transfer? 112 00:04:15,540 --> 00:04:15,640 Suze: I 113 00:04:15,640 --> 00:04:16,920 Suze: think the easiest way for 114 00:04:16,920 --> 00:04:18,990 Suze: you to do it, Marlena would just go to 115 00:04:18,990 --> 00:04:20,000 Suze: a title company 116 00:04:20,000 --> 00:04:21,260 Suze: and have them change 117 00:04:21,260 --> 00:04:22,430 Suze: the title from 118 00:04:22,430 --> 00:04:25,039 Suze: your name into the title of the trust. And 119 00:04:25,040 --> 00:04:26,529 Suze: for those of you who don't know 120 00:04:26,540 --> 00:04:31,260 Suze: Marlena is talking about, she's created a living revocable trust 121 00:04:31,640 --> 00:04:32,610 Suze: that she wants 122 00:04:32,610 --> 00:04:34,390 Suze: to own her home into 123 00:04:34,390 --> 00:04:36,919 Suze: the title of the trust so that 124 00:04:36,930 --> 00:04:38,440 Suze: upon her death 125 00:04:38,450 --> 00:04:39,150 Suze: it could pass to 126 00:04:39,150 --> 00:04:40,440 Suze: her beneficiaries without 127 00:04:40,440 --> 00:04:41,029 Suze: probate 128 00:04:41,040 --> 00:04:42,060 Suze: or if she 129 00:04:42,060 --> 00:04:42,480 Suze: becomes 130 00:04:42,490 --> 00:04:44,060 Suze: incapacitated, 131 00:04:44,640 --> 00:04:45,200 Suze: then whoever 132 00:04:45,200 --> 00:04:49,350 Suze: she names in her trust can take over her affairs. 133 00:04:49,360 --> 00:04:51,380 Suze: For her. Just that simple. 134 00:04:51,390 --> 00:04:54,520 KT: Alright, Alright. And on the same topic Holly the next 135 00:04:54,520 --> 00:04:55,430 KT: question 136 00:04:55,490 --> 00:04:59,659 KT: asks, does an irrevocable living trust have to be filed 137 00:04:59,670 --> 00:05:00,969 KT: at a courthouse. 138 00:05:00,970 --> 00:05:03,820 Suze: Did she say irrevocable right? 139 00:05:03,830 --> 00:05:05,850 Suze: All of you need to listen to me. 140 00:05:06,140 --> 00:05:06,800 Suze: I 141 00:05:06,810 --> 00:05:08,260 Suze: doubt highly 142 00:05:08,740 --> 00:05:09,450 Suze: that there is 143 00:05:09,460 --> 00:05:10,610 Suze: anybody that is 144 00:05:10,610 --> 00:05:12,550 Suze: listening to this podcast 145 00:05:13,040 --> 00:05:14,000 Suze: that needs 146 00:05:14,010 --> 00:05:14,289 Suze: an 147 00:05:14,880 --> 00:05:15,900 Suze: irrevocable 148 00:05:15,910 --> 00:05:16,760 Suze: trust. 149 00:05:17,140 --> 00:05:17,380 Suze: An 150 00:05:17,390 --> 00:05:20,570 Suze: irrevocable trust is one that does 151 00:05:20,570 --> 00:05:21,250 Suze: not 152 00:05:21,260 --> 00:05:23,750 Suze: change. It cannot change. And 153 00:05:23,750 --> 00:05:25,099 Suze: there is nothing you can do 154 00:05:25,100 --> 00:05:26,510 Suze: about it. Once you put 155 00:05:26,520 --> 00:05:27,810 Suze: anything in there, 156 00:05:27,839 --> 00:05:28,810 Suze: it's gone. 157 00:05:28,820 --> 00:05:29,650 Suze: That's it. 158 00:05:30,040 --> 00:05:33,610 Suze: It's cement, it has to pass and do whatever that 159 00:05:33,610 --> 00:05:40,320 Suze: trust says. You mainly want a revocable trust. A trust 160 00:05:40,320 --> 00:05:43,790 Suze: that you can change whenever you want. You can change 161 00:05:43,790 --> 00:05:46,730 Suze: your beneficiaries, you can change anything about it that you 162 00:05:46,730 --> 00:05:50,250 Suze: want to change. So if the question is, does a 163 00:05:50,260 --> 00:05:53,840 Suze: revocable trust have to be filed with the court house? 164 00:05:53,930 --> 00:05:56,760 Suze: The answer to that. It does not. 165 00:05:57,240 --> 00:06:00,960 Suze: And if you're wondering out there, why do we talk 166 00:06:00,960 --> 00:06:04,990 Suze: about trust here on the women and money podcast is 167 00:06:04,990 --> 00:06:05,780 Suze: one of the main 168 00:06:05,779 --> 00:06:07,729 Suze: foundations for your 169 00:06:07,730 --> 00:06:08,940 Suze: entire financial 170 00:06:08,940 --> 00:06:11,820 Suze: life. Should be a living revocable 171 00:06:11,820 --> 00:06:13,029 Suze: trust. A 172 00:06:13,029 --> 00:06:16,050 Suze: will, an advanced directive and durable power of Attorney 173 00:06:16,050 --> 00:06:17,960 Suze: for healthcare and financial 174 00:06:17,960 --> 00:06:22,510 Suze: power of attorney. And those are expensive documents to get. 175 00:06:22,520 --> 00:06:23,840 Suze: And over 20 176 00:06:23,839 --> 00:06:25,010 Suze: years ago 177 00:06:25,020 --> 00:06:26,000 Suze: I developed 178 00:06:26,000 --> 00:06:28,460 Suze: what was called the must have documents with my own 179 00:06:28,460 --> 00:06:29,360 Suze: trust lawyer. 180 00:06:29,940 --> 00:06:31,859 Suze: And now all of you 181 00:06:32,240 --> 00:06:32,909 Suze: can get 182 00:06:32,920 --> 00:06:33,780 Suze: 2500 183 00:06:33,779 --> 00:06:34,990 Suze: dollars worth of state of the 184 00:06:34,990 --> 00:06:36,360 Suze: art documents good in 185 00:06:36,370 --> 00:06:38,150 Suze: all 50 states 186 00:06:38,740 --> 00:06:42,300 Suze: simply by going to Suze Orman dot com 187 00:06:42,300 --> 00:06:43,860 Suze: slash offer and for 188 00:06:44,350 --> 00:06:45,320 Suze: $99 you 189 00:06:45,320 --> 00:06:46,300 Suze: can get that and do 190 00:06:46,310 --> 00:06:47,630 Suze: all of that in the luxury 191 00:06:47,630 --> 00:06:49,850 Suze: of your own home. You can share it 192 00:06:49,850 --> 00:06:50,980 Suze: with all the members 193 00:06:50,980 --> 00:06:54,880 Suze: In your family. So it's like giving a gift to somebody, 194 00:06:54,880 --> 00:06:58,890 Suze: your mother, 2500, your kids, 2500, whatever it may be. 195 00:06:58,900 --> 00:07:00,770 Suze: And any time you want to make a change, you 196 00:07:00,770 --> 00:07:02,450 Suze: just go back and change it and 197 00:07:02,450 --> 00:07:03,160 Suze: guess what? 198 00:07:03,740 --> 00:07:05,230 Suze: It's not going to cost you anything. 199 00:07:05,500 --> 00:07:07,909 KT: Shareware. Suze created shareware. 200 00:07:08,380 --> 00:07:10,580 Suze: I like to call it Suze-ware Okay, 201 00:07:10,590 --> 00:07:14,510 KT: next question is from Irene, can you please do a 202 00:07:14,510 --> 00:07:15,520 KT: class ready 203 00:07:15,520 --> 00:07:16,540 KT: for this Suze 204 00:07:16,550 --> 00:07:19,330 KT: on how to trade stock 205 00:07:21,910 --> 00:07:22,030 KT: and 206 00:07:22,030 --> 00:07:24,440 KT: I want to learn from the best which is you 207 00:07:24,450 --> 00:07:26,260 Suze: you don't trade stock. 208 00:07:26,270 --> 00:07:30,000 Suze: None of you are stock traders. You 209 00:07:30,000 --> 00:07:35,250 Suze: are people who invest in the stock market period. 210 00:07:35,840 --> 00:07:36,500 Suze: If you are a 211 00:07:36,500 --> 00:07:40,210 Suze: trader, you buy something, you sell it, you then buy 212 00:07:40,210 --> 00:07:44,200 Suze: something else and chances are you will lose money more 213 00:07:44,200 --> 00:07:47,080 Suze: than you will make money. So the key to building 214 00:07:47,080 --> 00:07:49,950 Suze: wealth in the stock market, even though the markets are 215 00:07:49,960 --> 00:07:52,760 Suze: absolutely crazy this year 216 00:07:53,140 --> 00:07:55,780 Suze: is by investing in something right 217 00:07:55,780 --> 00:07:56,750 Suze: now. Anyway. Little 218 00:07:56,750 --> 00:08:00,100 Suze: by little dollar cost averaging into it, which is taking 219 00:08:00,100 --> 00:08:04,060 Suze: a specific sum of money every single month and buying something. 220 00:08:04,070 --> 00:08:07,620 Suze: If you don't know what you're doing, then buy exchange 221 00:08:07,620 --> 00:08:08,180 Suze: traded 222 00:08:08,190 --> 00:08:12,160 Suze: funds such as the Vanguard Total Stock market index fund. 223 00:08:12,340 --> 00:08:14,040 Suze: If you want to be more concentrated 224 00:08:14,040 --> 00:08:14,880 Suze: in oil, maybe 225 00:08:14,880 --> 00:08:18,990 Suze: you buy the XLs, whatever it may be, but that 226 00:08:19,000 --> 00:08:21,230 Suze: is how you do it. But you don't want to trade. 227 00:08:21,230 --> 00:08:24,880 Suze: If you want to be a trader turn on CNBC 228 00:08:24,890 --> 00:08:28,930 Suze: and watch Fast Money at five o'clock every day. They 229 00:08:28,940 --> 00:08:31,950 Suze: are traders. They go in, They go out and you 230 00:08:31,950 --> 00:08:32,130 Suze: can 231 00:08:32,130 --> 00:08:33,250 Suze: learn a lot from 232 00:08:33,250 --> 00:08:35,510 Suze: them but you're 233 00:08:35,510 --> 00:08:37,170 Suze: not going to make money if you're a trader in 234 00:08:37,170 --> 00:08:38,350 Suze: most cases. All right, 235 00:08:38,640 --> 00:08:40,770 KT: At least right now. Right? 236 00:08:40,780 --> 00:08:41,880 Suze: well these are the types of 237 00:08:41,880 --> 00:08:44,390 Suze: markets, KT that you would be trading because 238 00:08:44,390 --> 00:08:45,540 Suze: you need volatility. 239 00:08:45,540 --> 00:08:46,810 Suze: It goes up, it goes down, you 240 00:08:46,809 --> 00:08:48,959 Suze: can do this, you can do that. But you 241 00:08:48,960 --> 00:08:50,370 Suze: better know what you're doing. 242 00:08:50,380 --> 00:08:54,679 KT: Alright, next question's from Ida. Hi, Suze and KT short, 243 00:08:54,679 --> 00:08:58,459 KT: sweet and possibly a quizze for KT. 244 00:08:58,640 --> 00:09:00,350 KT: Ready for the question everyone. 245 00:09:00,440 --> 00:09:05,100 KT: And this is for you too out their audience. Suze, 246 00:09:05,110 --> 00:09:09,730 KT: can I purchase a nonworking spousal Roth I. R. A. 247 00:09:09,740 --> 00:09:11,750 KT: If I'm already retired? Want me to answer it? 248 00:09:13,880 --> 00:09:17,650 Suze: That's your quizzie, your mid podcast quizzie? 249 00:09:17,650 --> 00:09:19,450 KT: Absolutely, yes. 250 00:09:19,940 --> 00:09:21,260 Suze: And how can she do that? 251 00:09:21,640 --> 00:09:25,790 KT: Because she's already retired and she has a spouse, she 252 00:09:25,790 --> 00:09:28,480 KT: wants a nonworking spouse. 253 00:09:29,380 --> 00:09:29,939 KT: Suze, 254 00:09:29,940 --> 00:09:34,910 KT: can I purchase a nonworking spousal Roth IRA if I'm 255 00:09:34,910 --> 00:09:38,400 KT: already retired in other words, she's not working today, 256 00:09:38,400 --> 00:09:39,400 Suze: but does she does she say 257 00:09:39,400 --> 00:09:40,860 Suze: if her spouse is working? 258 00:09:42,440 --> 00:09:43,250 KT: No, 259 00:09:43,260 --> 00:09:44,199 KT: she didn't say that. 260 00:09:44,200 --> 00:09:45,760 Suze: How can you answer that question. 261 00:09:47,740 --> 00:09:49,060 KT: Okay, 262 00:09:49,070 --> 00:09:50,630 KT: IDa, we don't have enough 263 00:09:50,630 --> 00:09:51,580 KT: information, 264 00:09:51,590 --> 00:09:57,229 KT: but here's the good news. That idea if your 265 00:09:57,230 --> 00:09:58,000 KT: spouse is 266 00:09:58,000 --> 00:09:59,080 KT: still working? 267 00:09:59,090 --> 00:10:00,450 Suze: Absolutely yes 268 00:10:00,460 --> 00:10:01,590 KT: Ding Ding Ding Ding 269 00:10:01,590 --> 00:10:03,760 Suze: Ding Ding Ding Ding Ding. However, 270 00:10:04,140 --> 00:10:10,800 Suze: how much can Ida put into her nonworking... So come on, KT. 271 00:10:11,679 --> 00:10:16,360 KT: I think half of what he makes. Something like that. 272 00:10:16,370 --> 00:10:16,520 KT: I 273 00:10:16,520 --> 00:10:16,950 KT: don't know what? 274 00:10:17,300 --> 00:10:19,610 Suze: I'm going to die. Absolutely. Going to. 275 00:10:19,620 --> 00:10:22,679 KT: I don't know. I don't know as much as you can. 276 00:10:23,940 --> 00:10:25,160 Suze: So Ida 277 00:10:25,440 --> 00:10:26,960 Suze: your spouse 278 00:10:27,340 --> 00:10:31,580 Suze: needs to be making for you to contribute the maximum 279 00:10:31,580 --> 00:10:32,320 Suze: for your age, 280 00:10:32,320 --> 00:10:33,520 Suze: Which would be 7000 281 00:10:33,520 --> 00:10:34,660 Suze: dollars a year. 282 00:10:35,140 --> 00:10:35,790 Suze: He or 283 00:10:35,790 --> 00:10:37,790 Suze: she needs to be making at 284 00:10:37,790 --> 00:10:38,980 Suze: least seven 285 00:10:38,980 --> 00:10:41,949 Suze: $1,000 a year or more earning. That 286 00:10:42,640 --> 00:10:43,740 Suze: if your spouse 287 00:10:43,740 --> 00:10:44,839 Suze: Is only making 288 00:10:45,390 --> 00:10:47,050 Suze: $3,000 a year, 289 00:10:47,559 --> 00:10:49,020 Suze: then the maximum you can put 290 00:10:49,020 --> 00:10:50,140 Suze: in is only 291 00:10:50,140 --> 00:10:52,059 Suze: 3000. So it's 292 00:10:52,540 --> 00:10:53,520 Suze: up to 293 00:10:54,000 --> 00:10:54,860 Suze: $7000 a 294 00:10:54,860 --> 00:11:00,319 Suze: Year maximum or whatever your spouse is earning. Whichever one 295 00:11:00,330 --> 00:11:01,560 Suze: is less. 296 00:11:02,280 --> 00:11:04,060 Suze: Wanna try repeating that for me now? 297 00:11:04,440 --> 00:11:10,870 KT: Yeah. Ida, here's the good news. Let's go on. All right, 298 00:11:10,880 --> 00:11:12,360 KT: this is from Sabrina 299 00:11:12,740 --> 00:11:17,980 KT: help. Suze. I left my job. Alright. Ready? Recently left 300 00:11:17,990 --> 00:11:21,280 KT: my first job and started at a new company. My 301 00:11:21,280 --> 00:11:26,180 KT: recent job offered 401(k) . At Fidelity. Since I left. 302 00:11:26,190 --> 00:11:29,179 KT: How do I manage this money? Do I have to 303 00:11:29,179 --> 00:11:32,090 KT: move it somewhere else? Please guide me. Suze. 304 00:11:32,440 --> 00:11:35,190 KT: Sabrina just started working. Tell her that we'll tell her 305 00:11:35,190 --> 00:11:36,439 KT: what a rollover is. 306 00:11:36,450 --> 00:11:37,510 Suze: Well, you 307 00:11:37,510 --> 00:11:41,350 Suze: left your job, right? And you started a new job 308 00:11:41,350 --> 00:11:42,849 Suze: at a new company 309 00:11:42,890 --> 00:11:46,990 Suze: That my recent job offered a 401K. Infidelity. 310 00:11:47,030 --> 00:11:48,020 Suze: The question 311 00:11:48,030 --> 00:11:50,079 Suze: is, does your new 312 00:11:50,080 --> 00:11:50,850 Suze: job 313 00:11:50,860 --> 00:11:52,480 Suze: Offer a 401 314 00:11:52,480 --> 00:11:53,920 Suze: K. You did not 315 00:11:53,920 --> 00:11:54,760 Suze: tell us that. 316 00:11:55,440 --> 00:11:56,020 Suze: So you 317 00:11:56,020 --> 00:11:58,110 Suze: Have two choices. You 318 00:11:58,110 --> 00:11:58,530 Suze: can 319 00:11:58,540 --> 00:11:59,630 Suze: if you want to 320 00:11:59,640 --> 00:12:01,309 Suze: roll your 321 00:12:01,940 --> 00:12:02,690 Suze: 401k. At your 322 00:12:02,700 --> 00:12:03,720 Suze: old job 323 00:12:03,730 --> 00:12:06,660 Suze: Into your new 401k. 324 00:12:07,240 --> 00:12:07,860 Suze: Where you 325 00:12:07,860 --> 00:12:09,380 Suze: are working. If they offer 326 00:12:09,380 --> 00:12:09,850 Suze: one, 327 00:12:10,640 --> 00:12:11,630 Suze: if they don't 328 00:12:11,630 --> 00:12:15,640 Suze: Offer one Now you have more choices. You can leave 329 00:12:15,640 --> 00:12:16,690 Suze: it where your 330 00:12:16,690 --> 00:12:18,020 Suze: first job was. 331 00:12:18,050 --> 00:12:19,990 Suze: Usually if you have 5000 332 00:12:19,990 --> 00:12:21,460 Suze: dollars or more in it 333 00:12:22,140 --> 00:12:24,679 Suze: or you can do an IRA 334 00:12:24,690 --> 00:12:25,440 Suze: rollover 335 00:12:25,440 --> 00:12:28,680 Suze: with it. Which means you would contact Fidelity 336 00:12:28,679 --> 00:12:30,400 Suze: possibly if you like them 337 00:12:30,410 --> 00:12:34,360 Suze: or Schwab or TD Ameritrade any discount brokerage firm. E 338 00:12:34,360 --> 00:12:36,790 Suze: trade you name it and you 339 00:12:36,790 --> 00:12:38,160 Suze: set it up with them 340 00:12:38,640 --> 00:12:39,270 Suze: and they 341 00:12:39,270 --> 00:12:40,410 Suze: will then contact 342 00:12:40,410 --> 00:12:41,900 Suze: your ex employer 343 00:12:41,910 --> 00:12:43,630 Suze: and do a custodian 344 00:12:43,640 --> 00:12:44,620 Suze: to custodian 345 00:12:44,620 --> 00:12:47,380 Suze: transfer so that it goes directly from your 346 00:12:47,390 --> 00:12:49,020 Suze: Old 401k. 347 00:12:49,030 --> 00:12:50,720 Suze: Into your IRA 348 00:12:50,730 --> 00:12:51,730 Suze: Rollover. 349 00:12:51,740 --> 00:12:52,380 Suze: Just 350 00:12:52,390 --> 00:12:53,689 Suze: that easy. 351 00:12:53,740 --> 00:12:56,620 KT: Okay next question is from Cathy 352 00:12:56,940 --> 00:12:59,010 KT: and this this is kind of sweet. I don't know 353 00:12:59,010 --> 00:13:01,800 KT: if you can answer it but she's wondering Suze, 354 00:13:01,800 --> 00:13:02,730 Suze: what does that mean? 355 00:13:02,730 --> 00:13:04,309 Suze: You don't know if I can answer the question 356 00:13:04,700 --> 00:13:09,540 KT: The question that has to do with medical insurance and deductions. 357 00:13:09,550 --> 00:13:12,910 KT: Do you know why I am not able to take 358 00:13:12,910 --> 00:13:17,780 KT: a deduction for the medical insurance? I paid in 2021 359 00:13:17,790 --> 00:13:19,520 KT: because I am a student 360 00:13:19,530 --> 00:13:21,119 Suze: because she's a student. You need a 361 00:13:21,120 --> 00:13:23,860 Suze: corporation to be able to do that. You 362 00:13:23,860 --> 00:13:24,760 Suze: need expenses. 363 00:13:24,760 --> 00:13:27,670 Suze: You need to meet certain qualifications. A student 364 00:13:27,670 --> 00:13:28,540 Suze: doesn't qualify 365 00:13:28,540 --> 00:13:29,550 Suze: for a deduction. 366 00:13:29,640 --> 00:13:30,920 Suze: A medical insurance 367 00:13:31,440 --> 00:13:32,000 Suze: premiums 368 00:13:33,040 --> 00:13:36,400 KT: next is from Candace by the way does everyone like this? 369 00:13:36,400 --> 00:13:38,500 KT: It's kind of like boom boom boom. I'm 370 00:13:38,500 --> 00:13:39,710 Suze: looking at the papers in 371 00:13:39,710 --> 00:13:42,400 KT: front of her all real short. There's one there like 372 00:13:42,400 --> 00:13:44,589 KT: three lines every one of them. Which is what I'm 373 00:13:44,590 --> 00:13:47,000 KT: trying to aim for with this podcast. 374 00:13:47,000 --> 00:13:48,460 Suze: So this is a Suze shorty. 375 00:13:48,550 --> 00:13:49,140 KT: Yeah. 376 00:13:49,440 --> 00:13:53,160 KT: My husband and I have ROTH accounts with three different firms. 377 00:13:53,340 --> 00:13:56,270 KT: Should they be combined to 1? As long as the 378 00:13:56,270 --> 00:13:59,360 KT: original paperwork is kept for reference. 379 00:13:59,740 --> 00:14:00,960 KT: That's from Candace. 380 00:14:00,960 --> 00:14:02,590 Suze: Well it depends usually 381 00:14:02,590 --> 00:14:03,800 Suze: yes Candace 382 00:14:03,809 --> 00:14:04,949 Suze: because you may be 383 00:14:04,950 --> 00:14:06,690 Suze: finding that you are being 384 00:14:06,690 --> 00:14:08,000 Suze: charged a custodian 385 00:14:08,000 --> 00:14:08,960 Suze: account for 386 00:14:08,960 --> 00:14:10,189 Suze: each one of those Roth 387 00:14:10,190 --> 00:14:11,550 Suze: IRAs maybe 388 00:14:11,550 --> 00:14:14,100 Suze: You're paying $25 a year for each one just to 389 00:14:14,100 --> 00:14:14,860 Suze: have them. 390 00:14:15,340 --> 00:14:16,949 Suze: Also. It becomes 391 00:14:16,950 --> 00:14:19,730 Suze: very interesting to keep track. What do you have in 392 00:14:19,730 --> 00:14:21,420 Suze: this one? What do you have in that one? What 393 00:14:21,420 --> 00:14:23,550 Suze: do you have in this one and then when you 394 00:14:23,550 --> 00:14:24,760 Suze: get older 395 00:14:25,540 --> 00:14:25,870 KT: then you forget... (laughter) 396 00:14:27,480 --> 00:14:31,980 Suze: it's true. But when you get older the good news 397 00:14:31,980 --> 00:14:34,940 Suze: is because they're Roth IRAs you don't have 398 00:14:34,940 --> 00:14:35,830 Suze: to take required 399 00:14:35,830 --> 00:14:39,730 Suze: minimum distributions. So it's not like traditional IRAs that you 400 00:14:39,730 --> 00:14:40,480 Suze: would then have to do 401 00:14:40,480 --> 00:14:41,460 Suze: the calculation 402 00:14:41,470 --> 00:14:44,860 Suze: from all of that. But for simplistic reason 403 00:14:45,040 --> 00:14:48,830 Suze: I would probably transfer it all into one account. Couldn't 404 00:14:48,840 --> 00:14:51,160 KT: do it. Next is from Katherine. 405 00:14:51,540 --> 00:14:54,210 KT: Hi Suze & KT, I have a credit card. I 406 00:14:54,210 --> 00:14:58,280 KT: never use, it costs me $39 a year. 407 00:14:58,800 --> 00:14:59,410 Suze: Close it close it. 408 00:14:59,860 --> 00:15:01,000 KT: Can I close it? 409 00:15:01,010 --> 00:15:01,850 Suze: The reason that 410 00:15:01,850 --> 00:15:06,230 Suze: I would close it is $39 is $39. Now. I 411 00:15:06,230 --> 00:15:06,940 Suze: know very 412 00:15:06,940 --> 00:15:08,650 Suze: well that I have said 413 00:15:08,650 --> 00:15:11,850 Suze: to you do not close down your credit cards 414 00:15:11,940 --> 00:15:13,910 Suze: because when you close down a credit card, 415 00:15:13,920 --> 00:15:14,800 Suze: you also 416 00:15:14,800 --> 00:15:16,070 Suze: closed down the credit 417 00:15:16,070 --> 00:15:17,710 Suze: limit that was on that 418 00:15:17,720 --> 00:15:18,750 Suze: credit card. 419 00:15:19,140 --> 00:15:20,340 Suze: And if you close down the 420 00:15:20,340 --> 00:15:22,190 Suze: credit limit that's on that credit 421 00:15:22,190 --> 00:15:23,250 Suze: card, it could 422 00:15:23,250 --> 00:15:27,120 Suze: hurt your Fico score. But I do not like credit 423 00:15:27,120 --> 00:15:28,510 Suze: cards that charge you. 424 00:15:28,520 --> 00:15:29,910 Suze: I don't care if it's 10 425 00:15:29,910 --> 00:15:32,410 Suze: dollars a year. $39 a year, 426 00:15:33,510 --> 00:15:34,380 Suze: $95 a year. I 427 00:15:34,380 --> 00:15:36,960 Suze: think it's a waste of money. So therefore 428 00:15:36,970 --> 00:15:37,810 Suze: I would 429 00:15:37,810 --> 00:15:39,260 Suze: close it down 430 00:15:39,640 --> 00:15:39,910 Suze: Now. 431 00:15:39,910 --> 00:15:40,970 Suze: It's not going 432 00:15:40,970 --> 00:15:44,300 Suze: to hurt your credit score. If you don't carry a 433 00:15:44,300 --> 00:15:46,040 Suze: balance on any of your credit 434 00:15:46,040 --> 00:15:47,310 Suze: cards, you'll be fine 435 00:15:47,360 --> 00:15:48,310 Suze: if you 436 00:15:48,310 --> 00:15:48,960 Suze: do 437 00:15:48,960 --> 00:15:52,660 Suze: however, carry a balance on your credit cards. 438 00:15:53,140 --> 00:15:53,890 Suze: Why not try 439 00:15:53,890 --> 00:15:55,450 Suze: opening up another credit 440 00:15:55,450 --> 00:15:56,970 Suze: card believe it or not 441 00:15:57,000 --> 00:15:58,800 Suze: with the same credit 442 00:15:58,800 --> 00:15:59,720 Suze: limit that was on 443 00:15:59,730 --> 00:16:04,100 Suze: this credit card, but that doesn't cost you anything a 444 00:16:04,100 --> 00:16:05,360 Suze: year to keep it. All 445 00:16:05,360 --> 00:16:05,880 Suze: right, 446 00:16:05,920 --> 00:16:10,510 KT: okay. Next question is from Denise Delgado. Do you know 447 00:16:10,510 --> 00:16:12,060 KT: why I said her surname 448 00:16:12,900 --> 00:16:13,560 Suze: Yes because... 449 00:16:13,560 --> 00:16:16,700 KT: of Ana Delgado? My dear friend. I wonder if you 450 00:16:16,700 --> 00:16:20,410 KT: girls know each other. Anyway, here's a simple question and 451 00:16:20,410 --> 00:16:23,260 KT: I'm actually going to answer it for you. Can the 452 00:16:23,260 --> 00:16:27,960 KT: living revocable trust be named something else other than my name? 453 00:16:28,540 --> 00:16:31,980 KT: And the answer is sorry Denise. No, it cannot. It 454 00:16:31,980 --> 00:16:34,500 KT: needs to be your legal name. 455 00:16:34,510 --> 00:16:35,550 Suze: Why is that? 456 00:16:35,560 --> 00:16:39,670 KT: Because it's a legal document. It's your Living Revocable Trust. 457 00:16:39,670 --> 00:16:41,109 Suze: So it's my Living Revocable 458 00:16:41,110 --> 00:16:41,979 Suze: Trust. And I want to 459 00:16:41,980 --> 00:16:43,080 Suze: call myself Snoop Orman. 460 00:16:43,080 --> 00:16:45,360 KT: No way. You want to call it Lucky crab. Look, 461 00:16:45,360 --> 00:16:46,490 KT: that's her email. 462 00:16:46,500 --> 00:16:47,730 KT: Right? 463 00:16:48,380 --> 00:16:49,660 Suze: So, here's the thing 464 00:16:50,040 --> 00:16:51,000 Suze: again, 465 00:16:51,010 --> 00:16:53,460 Suze: we're talking about the living Revocable Trust. 466 00:16:53,770 --> 00:16:55,050 Suze: The living Revocable 467 00:16:55,050 --> 00:16:56,760 Suze: Trust is created 468 00:16:57,140 --> 00:16:58,400 Suze: by somebody 469 00:16:58,430 --> 00:17:00,650 Suze: known as the trustor . 470 00:17:01,140 --> 00:17:01,560 Suze: That is 471 00:17:01,560 --> 00:17:02,330 Suze: the person that 472 00:17:02,330 --> 00:17:03,690 Suze: created the 473 00:17:03,690 --> 00:17:04,260 Suze: trust. 474 00:17:05,240 --> 00:17:06,480 Suze: And absolutely 475 00:17:06,480 --> 00:17:08,480 Suze: makes every decision over 476 00:17:08,490 --> 00:17:10,100 Suze: that trust. As long 477 00:17:10,100 --> 00:17:12,859 Suze: as not only are they the trustor but they're also 478 00:17:12,859 --> 00:17:12,990 Suze: the 479 00:17:12,990 --> 00:17:13,850 Suze: trustee. 480 00:17:14,840 --> 00:17:15,380 Suze: So it's 481 00:17:15,380 --> 00:17:16,760 Suze: their trust. 482 00:17:17,140 --> 00:17:19,780 Suze: You want to make sure that your legal entities 483 00:17:19,780 --> 00:17:21,330 Suze: know that it's you 484 00:17:21,359 --> 00:17:22,330 Suze: and if it's not 485 00:17:22,340 --> 00:17:23,270 Suze: your individual 486 00:17:23,270 --> 00:17:24,530 Suze: name and something 487 00:17:24,530 --> 00:17:25,729 Suze: happens to you, how 488 00:17:25,730 --> 00:17:26,800 Suze: are they gonna know whose 489 00:17:26,800 --> 00:17:31,120 Suze: trust this is? So you keep it in your legal name. 490 00:17:31,130 --> 00:17:31,879 Suze: All right. 491 00:17:31,900 --> 00:17:33,990 KT: Next question, Suze is from Joyce. 492 00:17:34,240 --> 00:17:36,920 KT: I am single. I'm going to be 60 years old 493 00:17:36,920 --> 00:17:40,270 KT: and plan on retiring in five years when my mortgage 494 00:17:40,270 --> 00:17:41,740 KT: is paid off, 495 00:17:41,750 --> 00:17:46,750 KT: The adviser recommended putting 60% of my 401K into 496 00:17:46,750 --> 00:17:47,970 KT: a bond fund. 497 00:17:47,980 --> 00:17:49,830 KT: I know you do not like 498 00:17:49,840 --> 00:17:50,720 KT: bond funds 499 00:17:50,720 --> 00:17:53,030 Suze: do not like bond funds is putting it mildly. 500 00:17:53,400 --> 00:17:54,900 KT: All right. All right, be calm, 501 00:17:54,900 --> 00:17:56,040 KT: be nice. I 502 00:17:56,040 --> 00:17:57,400 KT: also know 503 00:17:57,410 --> 00:17:58,850 KT: you. I also 504 00:17:58,850 --> 00:18:00,000 KT: know you do 505 00:18:00,000 --> 00:18:04,200 KT: not recommend stocks within five years of retirement. Where should 506 00:18:04,200 --> 00:18:07,090 KT: I put my money? So she needs your guidance Suze 507 00:18:07,730 --> 00:18:11,600 Suze: So Joyce on the podcast on May 15. 508 00:18:11,609 --> 00:18:12,570 KT: Just last sunday, 509 00:18:12,580 --> 00:18:16,600 Suze: Just last sunday, I talked about a lot about bond 510 00:18:16,600 --> 00:18:18,669 Suze: funds versus bonds. 511 00:18:19,340 --> 00:18:25,590 Suze: I don't mind individual bonds because individual bonds have a 512 00:18:25,590 --> 00:18:27,950 Suze: maturity date. Okay, 513 00:18:28,540 --> 00:18:30,110 Suze: what I do mind 514 00:18:30,160 --> 00:18:32,330 Suze: is bond funds. 515 00:18:32,350 --> 00:18:34,470 Suze: So a bond fund 516 00:18:34,480 --> 00:18:35,590 Suze: is a fund 517 00:18:35,670 --> 00:18:37,470 Suze: made up of individual 518 00:18:37,470 --> 00:18:40,370 Suze: bonds but it does not have a maturity 519 00:18:40,369 --> 00:18:40,959 Suze: date. 520 00:18:41,440 --> 00:18:42,800 Suze: Therefore if interest 521 00:18:42,800 --> 00:18:45,880 Suze: rates continue up, the price of that bond fund will 522 00:18:45,880 --> 00:18:46,910 Suze: absolutely 523 00:18:46,920 --> 00:18:51,359 Suze: continue to go down and bond funds have been decimated 524 00:18:51,740 --> 00:18:53,770 Suze: this year decimated. 525 00:18:54,440 --> 00:18:56,320 Suze: So why 526 00:18:56,330 --> 00:18:57,770 Suze: would an advisor 527 00:18:58,140 --> 00:19:01,050 Suze: tell you to put the majority of your money 528 00:19:01,440 --> 00:19:05,740 Suze: into a bond fund right now when bond funds are 529 00:19:05,750 --> 00:19:08,760 Suze: absolutely being obliterated 530 00:19:09,240 --> 00:19:11,359 Suze: that I don't understand. 531 00:19:11,740 --> 00:19:14,350 Suze: You would be far better off, 532 00:19:15,040 --> 00:19:19,030 Suze: especially as interest rates go up and again listen to 533 00:19:19,030 --> 00:19:20,020 Suze: the podcast on 534 00:19:20,020 --> 00:19:21,060 Suze: May 15th 535 00:19:21,640 --> 00:19:22,830 Suze: that look into 536 00:19:22,830 --> 00:19:24,669 Suze: Treasury notes, 537 00:19:25,040 --> 00:19:25,399 Suze: do a 538 00:19:25,400 --> 00:19:29,610 Suze: whole combination of bills, bonds, notes, whatever. Because 539 00:19:29,609 --> 00:19:30,550 Suze: there will come a 540 00:19:30,550 --> 00:19:34,550 Suze: time again when interest rates have hit their top 541 00:19:34,940 --> 00:19:37,260 Suze: That you may want to buy a 30 542 00:19:37,260 --> 00:19:38,139 Suze: year Treasury 543 00:19:38,140 --> 00:19:41,930 Suze: bond because then as interest rates go down, you can 544 00:19:41,930 --> 00:19:44,170 Suze: make a whole lot of money. 545 00:19:44,540 --> 00:19:48,080 Suze: So for now if I were you and you want 546 00:19:48,080 --> 00:19:48,700 Suze: to keep your money 547 00:19:48,700 --> 00:19:49,729 Suze: safe and sound 548 00:19:49,740 --> 00:19:50,760 Suze: look into 549 00:19:50,760 --> 00:19:52,340 Suze: shorter term Treasury 550 00:19:52,340 --> 00:19:56,980 Suze: bills or notes. That's number one. Number two, it's not 551 00:19:56,980 --> 00:20:01,459 Suze: that I don't recommend stocks within five years of retirement. 552 00:20:01,840 --> 00:20:04,220 Suze: I don't recommend you having money in 553 00:20:04,220 --> 00:20:05,260 Suze: stocks 554 00:20:05,940 --> 00:20:06,820 Suze: on money that 555 00:20:06,820 --> 00:20:08,629 Suze: you're going to need for 556 00:20:08,640 --> 00:20:09,910 Suze: any reason, 557 00:20:09,910 --> 00:20:11,850 Suze: not just retirement. 558 00:20:12,440 --> 00:20:12,900 Suze: So you 559 00:20:12,900 --> 00:20:14,040 Suze: have to be 560 00:20:14,050 --> 00:20:17,770 Suze: careful here. So is there an amount of money 561 00:20:18,240 --> 00:20:19,700 Suze: that you want to keep safe 562 00:20:19,710 --> 00:20:20,850 Suze: and sound 563 00:20:21,640 --> 00:20:22,550 Suze: that you know 564 00:20:22,550 --> 00:20:23,310 Suze: you're going to 565 00:20:23,310 --> 00:20:28,280 Suze: Need by the time that you turn 65 and retire now, 566 00:20:28,290 --> 00:20:30,450 Suze: it may be all of the money that you have 567 00:20:30,450 --> 00:20:33,469 Suze: in your 401K. If that's true, 568 00:20:33,520 --> 00:20:34,270 Suze: you can do 569 00:20:34,270 --> 00:20:34,660 Suze: that. 570 00:20:35,240 --> 00:20:36,460 Suze: But you have 571 00:20:36,460 --> 00:20:37,609 Suze: to just be careful 572 00:20:37,609 --> 00:20:38,520 Suze: at this point 573 00:20:38,530 --> 00:20:40,360 Suze: in time. Again. 574 00:20:40,369 --> 00:20:43,270 Suze: Listen to the podcast on May 15. 575 00:20:44,140 --> 00:20:45,350 KT: Great. And this 576 00:20:45,350 --> 00:20:46,510 KT: next question, Suze 577 00:20:46,510 --> 00:20:48,720 KT: is going to make you really mad 578 00:20:49,730 --> 00:20:50,430 Suze: Don't tell me it's about whole life 579 00:20:50,430 --> 00:20:51,860 Suze: insurance, is it? 580 00:20:52,160 --> 00:20:52,930 KT: Yes, 581 00:20:52,940 --> 00:20:53,740 Suze: I knew it. 582 00:20:53,740 --> 00:20:57,330 KT: This is from Shonda. Shonda. Listen up because Suze's going 583 00:20:57,330 --> 00:20:58,450 KT: to get really mad. 584 00:20:58,740 --> 00:21:02,900 KT: My insurance agent keeps pushing me to switch from term 585 00:21:02,900 --> 00:21:04,830 KT: to whole life insurance. 586 00:21:05,140 --> 00:21:08,720 KT: I know you've said in the past many times not 587 00:21:08,730 --> 00:21:12,300 KT: to do this. He keeps sending her emails and letters 588 00:21:12,300 --> 00:21:15,350 KT: after she says no. And she has good reason. She's 589 00:21:15,350 --> 00:21:18,200 KT: doing exactly the right thing. I have a 12 year 590 00:21:18,200 --> 00:21:21,260 KT: old son and only plan to keep my life insurance 591 00:21:21,270 --> 00:21:24,920 KT: until he was 18 or out of college. I just 592 00:21:24,920 --> 00:21:27,980 KT: want to make sure susie, I'm doing the right thing 593 00:21:28,000 --> 00:21:30,840 KT: ready for this. This part is going to really want 594 00:21:30,840 --> 00:21:33,630 KT: you to strangle this guy. He tells me I can 595 00:21:33,630 --> 00:21:37,770 KT: make $40,000 on whole life. Thank you. 596 00:21:38,240 --> 00:21:41,560 KT: So tell Shonda stick to her... 597 00:21:41,900 --> 00:21:44,410 Suze: Shonda, here's what I don't 598 00:21:44,410 --> 00:21:45,050 Suze: like 599 00:21:45,640 --> 00:21:46,980 Suze: that. He keeps pushing 600 00:21:46,980 --> 00:21:47,460 Suze: you, 601 00:21:47,840 --> 00:21:50,459 Suze: he's pushing you to switch from term 602 00:21:50,460 --> 00:21:52,050 Suze: to whole life. These 603 00:21:52,060 --> 00:21:52,370 Suze: are the 604 00:21:52,369 --> 00:21:54,260 Suze: words that you used. 605 00:21:54,740 --> 00:21:57,200 Suze: Why would a financial advisor 606 00:21:57,210 --> 00:21:59,359 Suze: be pushing you to do 607 00:21:59,359 --> 00:22:00,630 Suze: something every 608 00:22:00,630 --> 00:22:01,850 Suze: single month? He 609 00:22:01,850 --> 00:22:05,400 Suze: calls you, He writes you, he sends you emails. Why 610 00:22:05,400 --> 00:22:05,890 Suze: is he 611 00:22:05,890 --> 00:22:07,090 Suze: so desperate? 612 00:22:07,100 --> 00:22:08,580 KT: Because he needs the money Shonda 613 00:22:10,020 --> 00:22:14,360 Suze: Oh, KT you're so smart. He needs he needs the money. Now. 614 00:22:14,640 --> 00:22:15,470 Suze: He tells 615 00:22:15,470 --> 00:22:16,460 Suze: you that you 616 00:22:16,470 --> 00:22:17,810 Suze: That you can make $40,000 617 00:22:18,530 --> 00:22:19,190 KT: Everybody you should see Suze's face, 618 00:22:22,810 --> 00:22:25,070 Suze: here's what I want you to do, 619 00:22:25,070 --> 00:22:25,939 Suze: Shonda. 620 00:22:25,950 --> 00:22:26,340 Suze: I 621 00:22:26,340 --> 00:22:29,820 Suze: want you to call him every single day and say 622 00:22:29,820 --> 00:22:33,350 Suze: to him, can you tell me if I buy this 623 00:22:33,350 --> 00:22:36,770 Suze: whole life policy, how much money you're going to make, sir? 624 00:22:37,340 --> 00:22:41,230 Suze: How much money are you going to make now? There 625 00:22:41,240 --> 00:22:45,320 Suze: is not an advisor in the world that is talking 626 00:22:45,320 --> 00:22:49,280 Suze: to you about anything other than a Treasury Bill Bond or 627 00:22:49,280 --> 00:22:53,860 Suze: note or I bond that can say this is guaranteed 628 00:22:54,340 --> 00:22:57,699 Suze: because that's the only thing that's guaranteed by the full 629 00:22:57,700 --> 00:23:00,160 Suze: faith of the U. S. Government. 630 00:23:00,640 --> 00:23:03,729 Suze: There is no way that he can say to 631 00:23:03,730 --> 00:23:04,530 Suze: you that you 632 00:23:04,530 --> 00:23:07,270 Suze: Can make $40,000 on whole life. 633 00:23:07,740 --> 00:23:11,420 Suze: I don't think so. In fact, I know that this 634 00:23:11,420 --> 00:23:12,990 Suze: will be the biggest mistake you would 635 00:23:12,990 --> 00:23:13,859 Suze: ever make. 636 00:23:14,240 --> 00:23:15,280 Suze: And can you just 637 00:23:15,280 --> 00:23:19,159 Suze: stick to your term insurance. When an advisor, 638 00:23:19,540 --> 00:23:20,240 Suze: all of you listen 639 00:23:20,240 --> 00:23:21,600 Suze: to me right now when an 640 00:23:21,600 --> 00:23:22,540 Suze: advisor is 641 00:23:22,540 --> 00:23:25,830 Suze: pushing and pushing it is seriously 642 00:23:25,830 --> 00:23:27,890 Suze: because they need money 643 00:23:27,890 --> 00:23:29,429 Suze: on the commission and 644 00:23:29,430 --> 00:23:30,540 Suze: whole life. 645 00:23:30,550 --> 00:23:31,480 Suze: Universal 646 00:23:31,480 --> 00:23:32,320 Suze: life and 647 00:23:32,320 --> 00:23:33,750 Suze: variable life insurance 648 00:23:33,750 --> 00:23:34,490 Suze: policies 649 00:23:34,500 --> 00:23:35,479 Suze: are some of the 650 00:23:35,480 --> 00:23:38,310 Suze: highest commission items 651 00:23:38,320 --> 00:23:39,500 Suze: anybody 652 00:23:39,500 --> 00:23:40,220 Suze: can sell 653 00:23:40,220 --> 00:23:40,660 Suze: you 654 00:23:40,740 --> 00:23:40,930 Suze: the 655 00:23:40,930 --> 00:23:42,590 Suze: whole life could have a 656 00:23:42,590 --> 00:23:43,040 Suze: 90 657 00:23:43,040 --> 00:23:44,580 Suze: percent commission 658 00:23:44,590 --> 00:23:45,899 Suze: on the premiums 659 00:23:45,900 --> 00:23:46,699 Suze: that you're going to pay the 660 00:23:46,700 --> 00:23:49,350 Suze: first year. Don't you dare do this? Don't you 661 00:23:49,350 --> 00:23:50,830 Suze: dare do this. Don't 662 00:23:50,840 --> 00:23:52,400 Suze: you dare do this, 663 00:23:54,320 --> 00:23:58,609 KT: Calm down, calm down. Ready. This is from Dana. And I love 664 00:23:58,609 --> 00:23:59,659 KT: this question. 665 00:24:00,140 --> 00:24:04,070 KT: Hi KT and Suze. I've been following you for many years. 666 00:24:04,090 --> 00:24:08,750 KT: My husband plans to retire in four years. What should 667 00:24:08,750 --> 00:24:11,879 KT: he do with his 401 K. So he doesn't lose 668 00:24:11,880 --> 00:24:17,940 KT: his money till then. He has 480,000 and 90% is 669 00:24:17,940 --> 00:24:20,050 KT: in a stable value fund 670 00:24:20,340 --> 00:24:22,560 KT: 10% in the stock market. 671 00:24:22,940 --> 00:24:27,730 KT: He's still contributing to his 401K. But he's nervous about 672 00:24:27,730 --> 00:24:31,850 KT: the stock market and losing his money right before retiring. 673 00:24:32,240 --> 00:24:35,790 KT: Should he be in the stock market and perhaps dollar 674 00:24:35,790 --> 00:24:40,300 KT: cost average or just hold 90% in the stable value 675 00:24:40,300 --> 00:24:44,190 KT: fund until he retires. The reason I like this is 676 00:24:44,190 --> 00:24:48,159 KT: that Dana. Why didn't he write to Suze and ask this? 677 00:24:48,170 --> 00:24:51,210 KT: I could tell that Dana, you're the one that's guiding him. 678 00:24:51,210 --> 00:24:51,770 KT: So 679 00:24:51,840 --> 00:24:53,380 KT: Suze what should her husband do? 680 00:24:54,090 --> 00:24:55,169 Suze: So as you all know 681 00:24:55,340 --> 00:24:58,260 Suze: I think this is going to be an incredibly rocky 682 00:24:58,260 --> 00:25:01,250 Suze: year for the stock market. I think that we will 683 00:25:01,250 --> 00:25:02,390 Suze: go into recession 684 00:25:02,390 --> 00:25:03,820 Suze: by the end of the year, 685 00:25:03,830 --> 00:25:05,880 Suze: who knows what's going to happen in 686 00:25:05,880 --> 00:25:07,160 Suze: 2023. 687 00:25:07,640 --> 00:25:09,150 Suze: So at this 688 00:25:09,150 --> 00:25:10,710 Suze: point however he 689 00:25:10,710 --> 00:25:11,740 Suze: might just want to 690 00:25:11,740 --> 00:25:14,169 Suze: stay exactly where he is. 691 00:25:14,540 --> 00:25:16,290 Suze: He has only 10% in the 692 00:25:16,290 --> 00:25:17,669 Suze: stock market. I'm 693 00:25:17,670 --> 00:25:21,609 Suze: not exactly sure what you are invested in your stable 694 00:25:21,609 --> 00:25:22,730 Suze: value fund. 695 00:25:22,740 --> 00:25:24,730 Suze: But even though we may go 696 00:25:24,730 --> 00:25:25,550 Suze: down 697 00:25:25,940 --> 00:25:27,310 Suze: eventually in two 698 00:25:27,310 --> 00:25:28,360 Suze: or three years, 699 00:25:28,740 --> 00:25:29,360 Suze: it should come 700 00:25:29,359 --> 00:25:30,640 Suze: back and we should be okay 701 00:25:30,640 --> 00:25:31,619 Suze: maybe five years 702 00:25:31,619 --> 00:25:33,139 Suze: at most. So 703 00:25:33,140 --> 00:25:33,950 Suze: the timing may 704 00:25:33,950 --> 00:25:37,010 Suze: be good for him to stay where he is. 705 00:25:37,260 --> 00:25:37,770 Suze: But 706 00:25:38,140 --> 00:25:38,440 Suze: if 707 00:25:38,440 --> 00:25:42,300 Suze: he's nervous and he's not liking it, he needs to 708 00:25:42,300 --> 00:25:44,950 Suze: know that if he comes out now 709 00:25:45,840 --> 00:25:47,110 Suze: he's not going to be able to go 710 00:25:47,109 --> 00:25:50,270 Suze: back in. You cannot time the market. 711 00:25:50,840 --> 00:25:53,160 Suze: So it is very possible that we could 712 00:25:53,170 --> 00:25:54,510 KT: Just keep an eye on it. Right. 713 00:25:54,520 --> 00:25:57,550 Suze: Well no, it's possible. KT, these markets could go down 714 00:25:57,550 --> 00:26:02,450 Suze: another 20 or 30% from here. Absolutes possible. Everybody. 715 00:26:02,840 --> 00:26:03,219 Suze: But if you 716 00:26:03,220 --> 00:26:04,230 Suze: keep dollar cost 717 00:26:04,230 --> 00:26:05,359 Suze: averaging in 718 00:26:05,840 --> 00:26:06,440 Suze: and if you 719 00:26:06,440 --> 00:26:08,000 Suze: look at the stocks that 720 00:26:08,000 --> 00:26:08,860 Suze: you have 721 00:26:09,440 --> 00:26:13,609 Suze: and if your funds and or stocks are only down 722 00:26:13,710 --> 00:26:15,770 Suze: maybe 10% or so, 723 00:26:16,570 --> 00:26:18,359 Suze: then okay, not so bad. 724 00:26:18,740 --> 00:26:22,700 Suze: But if you're down 40 or 50% and you need 725 00:26:22,710 --> 00:26:25,159 Suze: the money you've got to make a change 726 00:26:25,640 --> 00:26:29,800 KT: Next time Have him right in to Dana. Okay. 727 00:26:29,800 --> 00:26:31,459 KT: Next question is from Debbie. 728 00:26:32,140 --> 00:26:35,929 KT: Hi, Suze when I retired two years ago I rolled 729 00:26:35,930 --> 00:26:41,160 KT: my 401 K. Into the Franklin income fund. I'm not 730 00:26:41,170 --> 00:26:43,830 KT: good with risk. So this market has really taken a 731 00:26:43,830 --> 00:26:47,570 KT: toll on my nerves. Besides an annuity is there's some 732 00:26:47,570 --> 00:26:51,960 KT: investment I can roll this into without paying taxes on it? 733 00:26:52,140 --> 00:26:54,960 Suze: So Debbie, if you're concerned about your money, 734 00:26:55,140 --> 00:26:58,350 Suze: I'm sure that you did an IRA rollover with it 735 00:26:58,420 --> 00:27:00,170 Suze: at some brokerage firm. 736 00:27:00,640 --> 00:27:01,600 Suze: And within that 737 00:27:01,609 --> 00:27:03,100 Suze: IRA rollover 738 00:27:03,109 --> 00:27:05,350 Suze: you could buy if you wanted to 739 00:27:05,740 --> 00:27:09,460 Suze: Treasury bills or Treasury notes or something like that 740 00:27:09,840 --> 00:27:13,200 Suze: that could mature in two or three years and you 741 00:27:13,200 --> 00:27:16,050 Suze: would be safe and sound during this thing. However, 742 00:27:16,600 --> 00:27:18,020 Suze: the Franklin income 743 00:27:18,020 --> 00:27:19,250 Suze: fund hasn't 744 00:27:19,250 --> 00:27:21,190 Suze: done that bad. I think it's down. 745 00:27:21,640 --> 00:27:21,990 Suze: Oh 746 00:27:21,990 --> 00:27:22,889 Suze: I don't know. I'm just going to 747 00:27:22,890 --> 00:27:26,320 Suze: guess but I have a feeling about 2.5% so far 748 00:27:26,320 --> 00:27:27,180 Suze: this year. Not 749 00:27:27,180 --> 00:27:27,960 Suze: so bad. 750 00:27:28,540 --> 00:27:31,730 Suze: And it's yielding you almost 5%. 751 00:27:32,140 --> 00:27:33,030 Suze: Pretty good. 752 00:27:33,640 --> 00:27:36,140 Suze: The reason that I might say you want to stay 753 00:27:36,140 --> 00:27:37,659 Suze: in it believe it or not, 754 00:27:38,040 --> 00:27:44,210 Suze: is that your financial advisor sold you a loaded mutual fund. 755 00:27:44,940 --> 00:27:48,820 Suze: So you've already paid the load and the load on 756 00:27:48,820 --> 00:27:51,960 Suze: it was probably 3.75%. 757 00:27:52,640 --> 00:27:56,240 Suze: So that means whatever amount of money you gave him 758 00:27:56,240 --> 00:27:57,170 Suze: or her, 759 00:27:57,940 --> 00:28:03,200 Suze: They made 3.75% on that money. You 760 00:28:03,210 --> 00:28:04,380 Suze: already paid 761 00:28:04,380 --> 00:28:04,660 Suze: it 762 00:28:05,040 --> 00:28:06,220 Suze: now. The ongoing 763 00:28:06,220 --> 00:28:08,710 Suze: expense ratio for most Franklin 764 00:28:08,710 --> 00:28:09,919 Suze: funds. So I 765 00:28:09,920 --> 00:28:12,440 Suze: imagine that's true for this fund as well 766 00:28:12,450 --> 00:28:13,470 Suze: is about 767 00:28:13,480 --> 00:28:14,440 Suze: 0.62% 768 00:28:15,210 --> 00:28:16,280 Suze: Not so bad. 769 00:28:16,280 --> 00:28:17,360 Suze: Not great, 770 00:28:17,740 --> 00:28:19,560 Suze: but not so bad. 771 00:28:20,040 --> 00:28:21,270 Suze: So you're already 772 00:28:21,280 --> 00:28:22,260 Suze: in this, 773 00:28:22,420 --> 00:28:23,440 Suze: you already 774 00:28:23,440 --> 00:28:24,330 Suze: paid a 775 00:28:24,330 --> 00:28:25,200 KT: load to 776 00:28:25,200 --> 00:28:26,550 Suze: be in it. 777 00:28:27,040 --> 00:28:27,570 Suze: So 778 00:28:27,570 --> 00:28:28,229 Suze: at this 779 00:28:28,230 --> 00:28:29,699 Suze: point, given 780 00:28:29,700 --> 00:28:30,840 Suze: that it's kind of stayed 781 00:28:30,840 --> 00:28:32,100 Suze: pretty good over 782 00:28:32,100 --> 00:28:33,270 Suze: this down hall, 783 00:28:33,640 --> 00:28:34,330 Suze: you might want 784 00:28:34,330 --> 00:28:37,000 Suze: to look into it and talk to your financial advisor 785 00:28:37,010 --> 00:28:37,690 Suze: and maybe 786 00:28:37,690 --> 00:28:38,580 Suze: just stay 787 00:28:38,590 --> 00:28:39,850 Suze: put right there. 788 00:28:41,340 --> 00:28:42,110 KT: So he gave her some good advice. 789 00:28:43,090 --> 00:28:45,810 Suze: Well, I there were other ways she could have bought 790 00:28:45,820 --> 00:28:47,090 Suze: income funds without having to 791 00:28:47,090 --> 00:28:48,210 Suze: Pay the 3.7 792 00:28:48,210 --> 00:28:50,480 Suze: 5%. But that's the KT. 793 00:28:50,480 --> 00:28:51,260 Suze: I don't like 794 00:28:51,260 --> 00:28:53,380 Suze: loaded mutual funds. I'm never 795 00:28:53,380 --> 00:28:56,480 Suze: gonna like loaded mutual funds. And that's just... 796 00:28:57,120 --> 00:28:59,110 KT: I have one more question from Doug and lisa. 797 00:28:59,120 --> 00:28:59,760 Suze: That's it? 798 00:29:00,040 --> 00:29:00,210 KT: Mm 799 00:29:00,210 --> 00:29:03,200 KT: hmm. Actually this is from Doug. So Doug's making 800 00:29:03,200 --> 00:29:04,350 Suze: Are you sure we have time for it? 801 00:29:04,560 --> 00:29:08,820 KT: Yeah, I like this. Yeah, I like this question. Hi. Suze. 802 00:29:08,820 --> 00:29:12,490 KT: Hope you're doing well. I came across an article online 803 00:29:12,490 --> 00:29:16,590 KT: that talked about a once in a lifetime transfer from 804 00:29:16,590 --> 00:29:21,260 KT: your IRA account to your H. S. A. Account. So 805 00:29:21,260 --> 00:29:25,230 KT: what's your advice? I'm moving some money from an IRA 806 00:29:25,240 --> 00:29:26,410 KT: t an H. S. A. 807 00:29:26,420 --> 00:29:27,690 Suze: Do it, do it, do it 808 00:29:27,690 --> 00:29:30,440 KT: ...from the tax saving point of view. This appears to 809 00:29:30,440 --> 00:29:31,320 KT: be a good thing to 810 00:29:31,320 --> 00:29:32,600 KT: do. So do 811 00:29:32,600 --> 00:29:36,720 KT: it. Do it. Do it. Doug. Do it. Doug do it. Doug. Doug. 812 00:29:37,200 --> 00:29:40,450 Suze: So Doug, here's what you need to know. What you read is correct. 813 00:29:40,840 --> 00:29:45,170 Suze: You have the ability once in your lifetime to take 814 00:29:45,170 --> 00:29:48,920 Suze: money that you have in a traditional IRA. You never 815 00:29:48,920 --> 00:29:50,560 Suze: pay taxes on it 816 00:29:51,040 --> 00:29:55,430 Suze: and take that money and put it into what? A Health 817 00:29:55,440 --> 00:29:57,050 Suze: Savings Account 818 00:29:57,060 --> 00:29:58,220 Suze: which goes 819 00:29:58,220 --> 00:30:01,490 Suze: along with a high deductible insurance 820 00:30:01,500 --> 00:30:02,260 Suze: plan. 821 00:30:02,840 --> 00:30:04,450 Suze: Now if you do 822 00:30:04,450 --> 00:30:05,370 Suze: that you 823 00:30:05,370 --> 00:30:06,570 Suze: now have it in a 824 00:30:06,570 --> 00:30:07,660 Suze: health savings 825 00:30:07,660 --> 00:30:08,360 Suze: account 826 00:30:08,940 --> 00:30:09,420 Suze: and 827 00:30:09,430 --> 00:30:10,560 Suze: you can invest 828 00:30:10,560 --> 00:30:11,860 Suze: it there if you want 829 00:30:11,860 --> 00:30:12,360 Suze: to 830 00:30:12,940 --> 00:30:15,620 Suze: and if you use it for a qualified 831 00:30:15,620 --> 00:30:16,190 Suze: medical 832 00:30:16,200 --> 00:30:18,480 Suze: expense it's tax 833 00:30:18,490 --> 00:30:19,270 Suze: free. 834 00:30:19,740 --> 00:30:20,410 Suze: So think 835 00:30:20,410 --> 00:30:21,300 Suze: about that. 836 00:30:21,310 --> 00:30:22,750 Suze: You can get a 837 00:30:22,750 --> 00:30:26,030 Suze: tax deduction because you put it into an I. R. A. 838 00:30:26,040 --> 00:30:26,870 Suze: Now it's going 839 00:30:26,870 --> 00:30:28,030 Suze: into your H. S. A. And 840 00:30:28,030 --> 00:30:29,590 Suze: when you use it it's tax 841 00:30:29,590 --> 00:30:31,640 Suze: free. Fabulous. 842 00:30:31,790 --> 00:30:32,520 Suze: Fabulous. 843 00:30:32,520 --> 00:30:33,990 Suze: However there's a 844 00:30:33,990 --> 00:30:36,190 Suze: maximum that you can 845 00:30:36,200 --> 00:30:37,040 Suze: roll this 846 00:30:37,040 --> 00:30:38,360 Suze: year or transfer 847 00:30:38,640 --> 00:30:39,030 Suze: if you're 848 00:30:39,030 --> 00:30:39,800 Suze: single. 849 00:30:39,940 --> 00:30:40,860 Suze: It's 3000 850 00:30:40,860 --> 00:30:45,420 Suze: $650 for the 2022 limit or 851 00:30:45,430 --> 00:30:46,550 Suze: 7300 852 00:30:47,480 --> 00:30:50,610 Suze: Because if you are married or have a family then 853 00:30:50,610 --> 00:30:51,710 Suze: it's $7300 854 00:30:52,380 --> 00:30:54,940 Suze: is the maximum that you can put in 855 00:30:54,950 --> 00:30:56,450 Suze: unless you 856 00:30:56,450 --> 00:30:58,060 Suze: are 55 or 857 00:30:58,070 --> 00:30:58,960 Suze: older. 858 00:30:59,540 --> 00:31:01,120 Suze: And if you are you can add 859 00:31:01,130 --> 00:31:03,300 Suze: $1,000 to those 860 00:31:03,300 --> 00:31:04,960 Suze: two numbers I just gave 861 00:31:04,960 --> 00:31:06,960 Suze: you either way 862 00:31:06,970 --> 00:31:08,940 Suze: you should max out 863 00:31:08,950 --> 00:31:10,600 Suze: to the most. You can possibly 864 00:31:10,600 --> 00:31:13,280 Suze: do. It's a fabulous thing. 865 00:31:13,290 --> 00:31:14,280 Suze: Do it. 866 00:31:14,290 --> 00:31:16,290 KT: Alright. Susz. That's a wrap. 867 00:31:16,300 --> 00:31:18,280 Suze: So we don't have an ending Quizzie for you. 868 00:31:19,840 --> 00:31:22,220 KT: We did my quizzie and I got a Ding Ding Ding. I did good 869 00:31:22,220 --> 00:31:22,450 KT: on 870 00:31:22,450 --> 00:31:22,960 KT: that. 871 00:31:23,540 --> 00:31:25,530 Suze: Alright so I have a made up quizz. 872 00:31:25,630 --> 00:31:26,620 Suze: that I'm giving you on the spot. 873 00:31:27,690 --> 00:31:31,040 KT: Alright. Go for it. I can do it 874 00:31:31,550 --> 00:31:32,300 Suze: Positive? 875 00:31:32,300 --> 00:31:35,490 KT: I my face my fear every day with these quizzes. 876 00:31:35,500 --> 00:31:36,590 KT: Go for it. 877 00:31:36,900 --> 00:31:37,980 Suze: All right. This is 878 00:31:37,980 --> 00:31:39,320 Suze: from Suze. 879 00:31:41,140 --> 00:31:43,360 Suze: She seems to know a little bit about money. 880 00:31:44,040 --> 00:31:44,550 Suze: She 881 00:31:44,550 --> 00:31:45,560 Suze: wants to know 882 00:31:46,040 --> 00:31:46,890 Suze: does KT 883 00:31:46,890 --> 00:31:47,660 Suze: know 884 00:31:48,240 --> 00:31:50,270 Suze: that if 885 00:31:51,040 --> 00:31:52,980 Suze: KT buys a 886 00:31:52,980 --> 00:31:54,460 Suze: Series I bond, 887 00:31:55,340 --> 00:31:57,209 Suze: when can she touch 888 00:31:57,220 --> 00:31:58,370 Suze: the money? And 889 00:31:58,370 --> 00:32:00,890 Suze: how much will it cost her to do? So? 890 00:32:00,900 --> 00:32:04,890 KT: I cannot touch it for at least a year after 891 00:32:04,900 --> 00:32:05,960 KT: it was purchased 892 00:32:06,340 --> 00:32:09,830 KT: zero and then I can touch it after 893 00:32:09,830 --> 00:32:10,270 KT: that. 894 00:32:11,040 --> 00:32:11,490 Suze: For how 895 00:32:11,490 --> 00:32:12,060 Suze: much? 896 00:32:12,740 --> 00:32:14,140 Suze: Please KT do 897 00:32:14,140 --> 00:32:14,750 Suze: not do 898 00:32:14,750 --> 00:32:18,410 Suze: This to me. Come on, come on. The whole the 899 00:32:18,410 --> 00:32:23,220 Suze: whole podcast community is rooting for you. Years 2-5. What 900 00:32:23,230 --> 00:32:24,560 Suze: is it going to cost? 901 00:32:25,340 --> 00:32:27,770 Suze: Come on, please. I'm begging you. 902 00:32:28,140 --> 00:32:30,860 Suze: Please you're joking. Right? Come on KT 903 00:32:33,950 --> 00:32:38,900 KT: Goodbye. Everybody be safe. Strong and secure. 904 00:32:41,540 --> 00:32:43,790 Suze: Really? You don't know the answer. No, 905 00:32:43,790 --> 00:32:44,780 KT: No, ...I I do know the 906 00:32:44,780 --> 00:32:45,350 KT: answer... 3 907 00:32:45,940 --> 00:32:47,670 Suze: 3 what? 908 00:32:50,740 --> 00:32:52,660 KT: 3% of what? 909 00:32:53,540 --> 00:32:54,479 KT: What do you mean? Of what? 910 00:32:54,490 --> 00:32:57,840 Suze: It's not 3%? It's a three what? Month? 911 00:32:57,850 --> 00:32:59,170 Suze: 3%? 912 00:32:59,940 --> 00:33:03,440 Suze: I'm gonna die. I'm gonna die. I just want you 913 00:33:03,440 --> 00:33:05,750 Suze: all know that. Can you All right in and give 914 00:33:05,750 --> 00:33:09,280 Suze: her some help here, KT? It's a three month 915 00:33:09,290 --> 00:33:10,950 Suze: Interest penalty. Years 2 to 916 00:33:10,950 --> 00:33:11,850 Suze: five, 917 00:33:12,540 --> 00:33:14,010 KT: Yea 3% 918 00:33:14,020 --> 00:33:15,470 KT: penalty. So, 919 00:33:15,590 --> 00:33:18,670 Suze: NO, it's not a 3% penalty. It's a three month 920 00:33:18,680 --> 00:33:19,830 Suze: interest penalty. 921 00:33:19,840 --> 00:33:23,390 KT: It's a three-month interest penalty from years 2-5. That's what 922 00:33:23,390 --> 00:33:25,620 KT: you have to give up. That's what you that's what 923 00:33:25,620 --> 00:33:28,260 KT: you're dinged with for taking some money out. 924 00:33:29,340 --> 00:33:30,780 Suze: Did you really not know that? I 925 00:33:31,530 --> 00:33:35,460 KT: know I did know that we've gone through it last 926 00:33:35,470 --> 00:33:40,110 KT: last week, This week. Sunday. I mean this is like 927 00:33:40,120 --> 00:33:41,550 KT: one of my nightmares. That's a nightmare quizzie. 928 00:33:43,660 --> 00:33:49,450 Suze: Ding Ding, ding, ding, ding ding. Alright, everybody. Until next Sunday. Right. 929 00:33:49,460 --> 00:33:54,580 Suze: Be safe, be strong and most will be secure. And 930 00:33:54,580 --> 00:33:55,140 Suze: can you just 931 00:33:55,140 --> 00:33:57,920 Suze: know how I bonds work? Can you do that for 932 00:33:57,920 --> 00:34:00,120 Suze: me? Everybody alright Bye bye.