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Suze: December 14th, 2023. Welcome everybody to the Women and Money

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Suze: podcast

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KT: and everyone's smart enough to listen.

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Suze: You hit that right on KT in the house and

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Suze: this is the KT and Susie anything segment of

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Suze: the Women and Money podcast. So, KT, are you ready?

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KT: We're just gonna go right to it. We're gonna get

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KT: right to it. And I hope you're all enjoying the

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KT: last month of the year. Here we go. This is

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KT: from Leslie and I'm starting with this because Suze, I

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KT: think you just need to tell her to stand in

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KT: her truth ready. Hi, Suze and KT. I started listening

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KT: to the podcast this year and, oh, how, I wish

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KT: I'd found you so much sooner.

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KT: So Leslie's 26 she lives with her boyfriend who's 29

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KT: last year, the boyfriend asked her to move across the

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KT: country with him after he received an incredible job offer.

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KT: So she felt great. I have no credit card debt.

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KT: My vehicle was paid off with an inheritance I just received.

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KT: This is, wait a minute. So she said let's do

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KT: it anyway, her lease was ending. She was completely free

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KT: and clear. They moved in January of this past year 23.

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Suze: Now, how much credit card debt does she have?

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KT: $10,000. Suze is psychic Leslie. So wait a minute. But here's the

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KT: thing that I'm a little bit confused about. So she

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KT: had everything paid off but she had no savings, no

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KT: emergency fund. Anyway, long story short, they had an arrangement

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KT: that he pays all the bills and I guess he's

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KT: paying the rent and she contributes to groceries and pays

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KT: for when they eat out.

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KT: But she said that she couldn't get a job for

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KT: at least a month when they moved. But how did

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KT: she rack up 10 grand in debt credit card? So

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KT: the question is, what should I do, Susie? I work

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KT: at a bank. If I could admit my issue to

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KT: my coworkers,

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KT: she said she could apply for a personal loan to consolidate,

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KT: she could get all kinds of balance transfers, many different options.

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KT: But here's the clincher. She said it's so hard for

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KT: me to talk about my debt with people in my life.

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KT: Any advice is appreciated. She hasn't come clean with anyone here.

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KT: So she's holding on to debt.

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Suze: I hear you KT I hear.

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KT: What should she do?

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Suze: Obviously, Leslie, you got to KT there as far as second.

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Suze: So here's the problem. The problem isn't that you have

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Suze: $10,000 of credit card debt. That's not the problem. The

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Suze: problem is you cannot admit it to other people. Why Leslie?

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Suze: Do you feel ashamed of it? Do you feel like

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Suze: people will judge you? Are you putting on the pretense,

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Suze: which is why you have $10,000 of credit card debt

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Suze: that you're making more money than everybody thinks you're making

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Suze: or you have more money than others think you may have.

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Suze: In order to get out of debt, you have to

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Suze: face it to erase it. How many times have I

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Suze: said that you have to stand in your truth

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Suze: and I have had people go out and scream it

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Suze: to the world. I have credit card debt. How much

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Suze: credit card debt do you have? I would have them

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Suze: tell strangers everybody, they loved everybody. They didn't love until

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Suze: they felt like they weren't bad people because they had

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Suze: credit card debt. They were just bad with their money

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Suze: for a small period of time. Now, here's what bothers me.

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Suze: You were great with your money before you moved.

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Suze: You didn't have debt, you had everything that you wanted.

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Suze: But all of a sudden now you go from 1

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Suze: to 2, meaning you and your boyfriend and now you

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Suze: have $10,000 of debt. Why Leslie, what have you changed

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Suze: in your life

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Suze: that you are now? Spending more than you have ever

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Suze: spent before. You better think about that. Remember, you can

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Suze: never fix a financial problem with money. You could pay

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Suze: off this debt. But if you can't figure out why

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Suze: you got into debt to begin with and you can't

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Suze: feel free to tell everybody your coworkers, everybody.

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Suze: You're only gonna get further into debt and further into

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Suze: a state of lack of self esteem. All right. Go on.

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KT: Ok. Next question is from Kathy. Hi, Suze. Hope you're well.

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KT: I have a unique situation and could use your guidance.

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KT: My husband died in 1996. I never remarried. I've been

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KT: working my own job since 1982.

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KT: So here's where it goes. I've been told I could

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KT: start collecting some of my late husband's social security benefit

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KT: when I turned 60 which will be next year. I

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KT: was wondering, is this correct? Would it take away from

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KT: any benefit my disabled son receives, would doing so have

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KT: any negative impact on collecting my own benefit at age

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KT: 67 or 70 since I worked more years than my

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KT: late husband.

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KT: So, there you go.

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Suze: So, here's what I would tell you. Number one,

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Suze: when you turn 60 you absolutely can collect what's called

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Suze: a survivor's benefit because your husband predeceased you very different

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Suze: everybody than a spousal benefit where you are divorced from

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Suze: your ex. This is a survivor benefit. But at the

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Suze: age of 60 you will get if you claim it 28.5%

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Suze: of a reduction

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Suze: because you are not your full retirement age, which would

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Suze: be 67. All right. So if you decide to claim

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Suze: it before 67 and you do claim it at 60

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Suze: whatever you would get, you are going to have it

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Suze: reduced by 28.5%. Not a big deal.

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Suze: So now you collected and you collect it every single

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Suze: year up until you're 67 which is your full retirement

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Suze: age or 70 if you want. And then you convert

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Suze: over two years if that happens to be the plan, however,

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Suze: you're working. So you have to remember that if you

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Suze: are making more than $21,240 a year right now

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Suze: for every $2 earned, they are going to reduce that

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Suze: benefit by $1. So you need to know that, but

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Suze: not a big deal because then when you do turn

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Suze: full retirement age at 67 you get all that money back.

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Suze: So it's like they reduce it, but you do not

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Suze: lose it.

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Suze: So that might be fine for you and not a

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Suze: big problem because that will increase your benefit for you

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Suze: when you actually get older.

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KT: So, can I ask a question? So she decides not

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KT: to take his when she turns 70 let's say she

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KT: takes hers if hers is greater than his, is his gone.

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Suze: Yeah.

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Suze: So she should absolutely be taking her Survivor benefit now

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KT: because she worked more than him.

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Suze: Hers will be greater as long as hers is greater

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Suze: than his. This is what she should do if however everybody,

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Suze: his was greater than hers, she might want to take

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Suze: her actual social security benefit at 62

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Suze: and then at 67 turn over to his. But given

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Suze: that she's making more money and her benefit will be

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Suze: bigger than his. She should take his now in terms

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Suze: of a survivor, but I hope that helps you.

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KT: K now,

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KT: Lisa, she said CD versus money market 101. I say

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KT: 101 because I started listening about a year and a

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KT: half ago. I feel like I'm trying to catch up

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KT: on a lifetime of knowledge in the financial world that

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KT: I missed out on from Suze Orman for 55 years.

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KT: You're not alone out there, Lisa. So she said to KT,

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KT: here's your quizzy and this isn't my quizzy. It's Suze's quizzy.

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KT: I recently inherited 55,000 from my brother's estate. I have

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KT: turned other money that I have inherited over to our

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KT: financial planner that is being held in a money market account.

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KT: My question is this, is it better to place this

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KT: most recent check in the money market earning a bit

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KT: over 4% or get a CD perhaps with Alliant at 5.3%

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KT: for the 18 months.

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KT: I assume the CD rate is locked in for the

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KT: entire length of the CD or is there something different

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KT: I should be doing? And then she says I don't

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KT: need the money in the next 18 months, but she

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KT: wants to know it'll be safe

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Suze: If you want to know that it's gonna be safe

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Suze: if I would absolutely go to my alliant.com and sign

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Suze: up for the 18 month CD right now where the

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Suze: interest rate is 5.3% or 5.35%. If it's $75,000 or more,

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Suze: you also have the ability, remember the minimum deposit into

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Suze: a CD is $1000. So you could, if you wanted

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Suze: to put $10,000 let's say in the 18 month, 1

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Suze: $10,000 in the 19 month, 1, 10

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Suze: $1000 in the 20 month, 1 $10,000 in the 21 you,

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Suze: you could do it like that all the way up

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Suze: to almost two full years just so, you know, so

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Suze: you might want to do that. So you do have

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Suze: $10,000 then coming to every month if you want to,

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Suze: but it's all going to be at the same interest

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Suze: rate that does not change. Just saying, what else are

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Suze: you saying, KT?

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KT: This is a good question from Adriana

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KT: Suze. A year ago, I changed the investment on my

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KT: 403 B from Vanguard, which was only in stocks to

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KT: bonds since the stock market was down. Is it time

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KT: now to change back to a conservative or moderate investment,

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KT: which would be about 75% stocks and 25% bonds or

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KT: even in all stock. I'm 45 and have the account

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KT: for 12 years. And she also has

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KT: a Roth IRA. What should she do?

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KT: That's a good question.

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Suze: Adriana, I think you really need a true professional seriously

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Suze: to look at what you're doing because a year ago

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Suze: would not have been the time to get out of

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Suze: stocks and go into bonds. Ok. It would have been, oh,

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Suze: the stock market is starting to go down things really.

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Suze: If they've gone down, it's not so good. That would

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Suze: have been the time

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Suze: dollar cost average back into the stock market or just

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Suze: leave it there, especially if you were invested in the

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Suze: right area of the stock market, which would have been

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Suze: technology at that point in time or other things. So

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Suze: I'm just concerned that your timing where you're going from

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Suze: this to that and that

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Suze: into this is not what you should be doing at

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Suze: the age of 45 at 45 you should be truthfully

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Suze: invested across the board in different kinds of stocks, dividend, stocks, technology, stocks,

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Suze: whatever it may be. And if you don't do individual

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Suze: stocks and exchange traded funds and things like that,

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Suze: but for safe money, you could have a portion of

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Suze: it that's safe that you put into some type of bonds.

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Suze: But what kind of bonds. So when you just say 25%

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Suze: in bonds, I can't answer your question because you're not

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Suze: telling me long term, short term treasuries, municipals, Corporates. What

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Suze: are you doing? So, I really think given

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Suze: that you're 45 you also have a Roth IRA. Hopefully

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Suze: you can find some trusted financial advisor that can sit

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Suze: down with you and really see if they make sense

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Suze: to you in terms of what they would be doing

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Suze: with this money. Yes, KT. Ok.

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KT: This is a, this one makes me sad. This is

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KT: from Jillian.

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KT: Hey, Suze and KT. I love listening to the podcast

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KT: and I've learned so much. I recently lost my aunt

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KT: whom I was like a daughter to. I was helping

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KT: her with her finances and created her will and trust

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KT: with the must have documents. I sent it to her

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KT: in Florida where she was in assisted living. And Jillian

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KT: lives in New Jersey. She said she told her where

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KT: to sign and even had a notary go to her

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KT: assisted living place to notarize.

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KT: She actually mailed back the originals the same day she

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KT: passed ironically, Suze. But upon looking at them, they realized

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KT: there were no witnesses with her and the notary. So

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KT: she was upset with the notary, but now she's told

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KT: the will is incomplete, the trust is incomplete. She didn't

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KT: have much. She had a checking account with about $30,000

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KT: which she was counting on Jillian to reimburse herself for

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KT: the funeral expenses.

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KT: And then she said she still has a Roth IRA

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KT: and a traditional IRA of about 54,000 that she's the

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00:14:39,150 --> 00:14:43,380
KT: beneficiary on. But she's asking what can she do to

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00:14:43,390 --> 00:14:47,409
KT: recoup the $30,000. They didn't have witnesses.

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00:14:47,609 --> 00:14:51,609
Suze: That wasn't the problem, Katie, believe it or not. The

231
00:14:51,619 --> 00:14:55,479
Suze: one thing, everybody that you have got to understand about

232
00:14:55,489 --> 00:14:57,500
Suze: a living revocable trust

233
00:14:57,780 --> 00:15:03,880
Suze: is that once you have had your documents notarized and witnessed,

234
00:15:04,289 --> 00:15:07,960
Suze: you then have to take the time to change the

235
00:15:07,969 --> 00:15:13,000
Suze: title of that asset from aunt's name in this particular

236
00:15:13,010 --> 00:15:15,820
Suze: case to the trust for the ant.

237
00:15:16,450 --> 00:15:21,849
Suze: And within the trust, it would have made Jillian the beneficiary.

238
00:15:21,859 --> 00:15:24,950
Suze: So it would have gone directly to her. So Jillian,

239
00:15:24,960 --> 00:15:29,369
Suze: it wasn't just the fact that she didn't have witnesses.

240
00:15:29,380 --> 00:15:33,429
Suze: There wasn't enough time to fund that's called funding the

241
00:15:33,440 --> 00:15:37,909
Suze: trust where you change the title of the asset from

242
00:15:37,919 --> 00:15:42,070
Suze: the individual name to the title of the trust. Number one,

243
00:15:42,770 --> 00:15:47,030
Suze: the other mistake that was made here, it is far,

244
00:15:47,039 --> 00:15:51,590
Suze: far easier when you have something like a checking account

245
00:15:51,679 --> 00:15:56,270
Suze: or a Roth IRA or a traditional IRA to just

246
00:15:56,280 --> 00:16:00,950
Suze: name a beneficiary. If she had just simply put your

247
00:16:00,960 --> 00:16:05,159
Suze: name as the beneficiary as a pay on death account,

248
00:16:05,169 --> 00:16:09,070
Suze: a pod account on that checking account, it would have

249
00:16:09,080 --> 00:16:12,109
Suze: gone to you right away.

250
00:16:12,619 --> 00:16:16,929
Suze: So that would have taken care of that problem as well,

251
00:16:16,940 --> 00:16:22,479
Suze: where you're really looking for a trust isn't necessarily who

252
00:16:22,489 --> 00:16:25,799
Suze: it pays out to on death because you can sometimes

253
00:16:25,809 --> 00:16:28,200
Suze: take care of that with a pay on death or

254
00:16:28,210 --> 00:16:29,799
Suze: a transfer on death account.

255
00:16:30,440 --> 00:16:36,299
Suze: It's all of a sudden, aunt becomes incapacitated. She isn't dead,

256
00:16:36,580 --> 00:16:40,570
Suze: but she can't write checks anymore. She can't do those things.

257
00:16:40,580 --> 00:16:44,820
Suze: A pay on death account isn't going to help. That's

258
00:16:44,830 --> 00:16:49,630
Suze: when a trust comes in handy, that would have named

259
00:16:49,640 --> 00:16:53,700
Suze: Jillian as the successor trustee. And then Jillian would have

260
00:16:53,710 --> 00:16:57,859
Suze: been able to pay all of auntie's bills for her.

261
00:16:58,349 --> 00:17:02,630
Suze: So, what do you do? Now? The good news is

262
00:17:02,719 --> 00:17:07,250
Suze: she did leave you as beneficiary on the Roth Ira

263
00:17:07,520 --> 00:17:12,520
Suze: where there was $45,000 in it. What that means is

264
00:17:12,530 --> 00:17:17,849
Suze: you can take out all $45,000 without any taxes or

265
00:17:17,859 --> 00:17:19,530
Suze: penalties whatsoever.

266
00:17:20,109 --> 00:17:24,510
Suze: So now you have access at least to that $45,000

267
00:17:24,589 --> 00:17:29,650
Suze: without having to worry about it. That's number one, number two,

268
00:17:30,040 --> 00:17:35,170
Suze: there's a traditional IRA that has $9000 in it.

269
00:17:35,630 --> 00:17:38,129
Suze: So I'm not sure if in fact, you're in a

270
00:17:38,140 --> 00:17:41,889
Suze: high income tax bracket if you're not, if it were me,

271
00:17:41,900 --> 00:17:44,458
Suze: rather than going through the thing of the rules of

272
00:17:44,469 --> 00:17:48,349
Suze: inherited IRAs and having to take out so much, it's

273
00:17:48,359 --> 00:17:51,800
Suze: a pain at this point in time. Take out half

274
00:17:51,810 --> 00:17:54,849
Suze: this year, take out the other half next year.

275
00:17:55,400 --> 00:17:57,959
Suze: Your taxes aren't going to go up that much then

276
00:17:57,969 --> 00:18:02,859
Suze: all of the money is out of retirement accounts. Now,

277
00:18:02,869 --> 00:18:07,300
Suze: as far as the $30,000 goes, you say that she

278
00:18:07,310 --> 00:18:12,459
Suze: didn't have any other Children that she wanted you as

279
00:18:12,469 --> 00:18:16,449
Suze: the sole executor, as I'm reading this email, KT just

280
00:18:16,459 --> 00:18:17,449
Suze: handed me.

281
00:18:17,709 --> 00:18:23,250
Suze: So eventually that will come to you in terms of

282
00:18:23,260 --> 00:18:29,020
Suze: succession rules that $30,000 might go into something called intestate

283
00:18:29,030 --> 00:18:33,530
Suze: succession because there was no will or trust dictating where

284
00:18:33,540 --> 00:18:37,849
Suze: it should go and the state of Florida will dictate

285
00:18:37,859 --> 00:18:39,930
Suze: who gets that money.

286
00:18:40,430 --> 00:18:43,069
Suze: So given that she doesn't have any kids, I'm sure

287
00:18:43,079 --> 00:18:46,458
Suze: she doesn't have a spouse and anything like that. Most

288
00:18:46,469 --> 00:18:50,969
Suze: likely it will come to you anyway. But in the meantime,

289
00:18:50,979 --> 00:18:54,719
Suze: you do have the money there to pay back for

290
00:18:54,729 --> 00:18:56,810
Suze: the funeral expenses. All right.

291
00:18:56,979 --> 00:18:59,290
KT: Ok. Next question is from Jean.

292
00:18:59,760 --> 00:19:03,459
KT: I've learned so much from your podcast series. Thank you.

293
00:19:03,560 --> 00:19:08,449
KT: My question is, can I put high commission variable annuities?

294
00:19:08,599 --> 00:19:12,579
KT: One that has matured, the other has another two years

295
00:19:12,589 --> 00:19:15,040
KT: to go. You love how she referred to that high

296
00:19:15,050 --> 00:19:19,688
KT: commissioned variable. So she wants to put in part

297
00:19:20,050 --> 00:19:25,020
KT: an IRA, an existing Roth and a savings account. I'm retired.

298
00:19:25,030 --> 00:19:28,540
KT: My husband's retiring next year. We're still a few years

299
00:19:28,550 --> 00:19:32,708
KT: away from RMD. What is the best way to handle this?

300
00:19:32,930 --> 00:19:36,829
Suze: Well the truth of the matter is... I can't answer this

301
00:19:36,839 --> 00:19:41,270
Suze: question for you. Jean because I don't know if these

302
00:19:41,280 --> 00:19:43,910
Suze: variable annuities were funded

303
00:19:44,290 --> 00:19:49,910
Suze: as a qualified retirement account or a non qualified retirement account.

304
00:19:49,930 --> 00:19:55,629
Suze: A qualified annuity is one that is funded with money.

305
00:19:55,640 --> 00:20:00,488
Suze: You have never paid taxes on. So usually you purchase

306
00:20:00,500 --> 00:20:03,020
Suze: that within an IRA

307
00:20:03,569 --> 00:20:08,948
Suze: a non-qualified annuity is one that you purchased with money

308
00:20:08,959 --> 00:20:13,890
Suze: that you have already paid taxes on. So I don't

309
00:20:13,900 --> 00:20:17,889
Suze: know which one you have. If it happens to be

310
00:20:17,900 --> 00:20:23,010
Suze: a qualified annuity, you can, if you want roll it

311
00:20:23,020 --> 00:20:27,229
Suze: into the traditional Ira, you do not wanna put it

312
00:20:27,239 --> 00:20:28,699
Suze: into your Roth

313
00:20:29,140 --> 00:20:32,280
Suze: because that will make whatever amount you put in there

314
00:20:32,290 --> 00:20:36,670
Suze: totally taxable to you at that time. In terms of

315
00:20:36,680 --> 00:20:42,390
Suze: a savings account. If these have matured, you absolutely can

316
00:20:42,400 --> 00:20:45,069
Suze: take the money out. But here is why I hate

317
00:20:45,500 --> 00:20:53,069
Suze: annuities like this. Everybody is that gene. Let's just assume

318
00:20:53,079 --> 00:20:55,030
Suze: these are non-qualified annuities.

319
00:20:55,599 --> 00:20:58,729
Suze: You have already paid taxes on the money that you

320
00:20:58,739 --> 00:20:59,430
Suze: invested

321
00:21:00,170 --> 00:21:02,949
Suze: and all these years now that they've been in there

322
00:21:02,959 --> 00:21:05,790
Suze: and it's a long time since you say they've matured,

323
00:21:05,800 --> 00:21:09,790
Suze: which means they're out of their surrender period. They're now

324
00:21:09,800 --> 00:21:12,659
Suze: worth a whole lot more than what you put in.

325
00:21:13,030 --> 00:21:17,349
Suze: When you go to take it out, whatever amount that

326
00:21:17,359 --> 00:21:20,489
Suze: you're going to take out the growth of everything there

327
00:21:20,520 --> 00:21:25,310
Suze: is going to be taxed to you as ordinary income. Ok?

328
00:21:26,209 --> 00:21:33,119
Suze: That's really sad. You're not gonna get capital gains tax treatment, anything.

329
00:21:33,130 --> 00:21:36,478
Suze: It's going to be taxed to you. The growth of

330
00:21:36,489 --> 00:21:41,510
Suze: this as ordinary income. So you have to consult a

331
00:21:41,520 --> 00:21:46,099
Suze: tax person before you do anything here and find out

332
00:21:46,109 --> 00:21:50,290
Suze: what is it that you have? You say we're still

333
00:21:50,300 --> 00:21:52,229
Suze: a few years away from RMDs.

334
00:21:53,369 --> 00:21:56,619
Suze: So that kind of says to me that maybe these

335
00:21:56,630 --> 00:22:01,910
Suze: are qualified annuities if that's true. Put them in if

336
00:22:01,920 --> 00:22:07,569
Suze: you want to, into your traditional ira, but not into

337
00:22:07,579 --> 00:22:11,569
Suze: your Roth and not into your savings account. All right.

338
00:22:11,579 --> 00:22:11,989
Suze: Go on.

339
00:22:13,000 --> 00:22:15,589
KT: This is from Sherry. She said, Suze, I listened to

340
00:22:15,599 --> 00:22:19,260
KT: your Gold Digger podcast today. I'd love if you were

341
00:22:19,270 --> 00:22:21,819
KT: to offer individual advice to me,

342
00:22:22,050 --> 00:22:24,909
KT: I have a large sum of money in cash earning

343
00:22:24,920 --> 00:22:30,030
KT: very little interest. I'm so afraid to invest because I've

344
00:22:30,040 --> 00:22:33,469
KT: saved it bit by bit over the years. I'm even

345
00:22:33,479 --> 00:22:36,750
KT: nervous about putting it in CDs because I don't know

346
00:22:36,760 --> 00:22:40,010
KT: how much to put in or how to ladder. Thank

347
00:22:40,020 --> 00:22:42,869
KT: you so much for your show. I've been listening for

348
00:22:42,880 --> 00:22:46,209
KT: decades and you helped me pay off my house many

349
00:22:46,219 --> 00:22:49,670
KT: years ago, but I still have a lot to learn. Suze.

350
00:22:49,819 --> 00:22:51,430
KT: Tell her what to do with that.

351
00:22:52,380 --> 00:22:54,369
KT: Tell her CDs are ok.

352
00:22:54,800 --> 00:22:58,379
Suze: Well, here's the thing Sherry is that I have a

353
00:22:58,390 --> 00:23:04,689
Suze: saying that there are three internal obstacles to wealth, fear,

354
00:23:05,239 --> 00:23:11,890
Suze: shame and anger. Your fear is keeping you from making

355
00:23:11,900 --> 00:23:15,329
Suze: the most out of the money that you have. The

356
00:23:15,339 --> 00:23:17,969
Suze: fact that you have a large sum of money. And

357
00:23:17,979 --> 00:23:20,569
Suze: I don't even know what large means to you,

358
00:23:20,859 --> 00:23:25,239
Suze: but that's earning very little interest. And you say that

359
00:23:25,250 --> 00:23:28,369
Suze: you're so afraid to invest because I've saved it bit

360
00:23:28,380 --> 00:23:32,599
Suze: by bit over the years. If you worked so hard,

361
00:23:32,890 --> 00:23:37,660
Suze: bit by bit to save it over the years, why

362
00:23:37,670 --> 00:23:41,260
Suze: would you be giving up, not bits of money but

363
00:23:41,270 --> 00:23:43,679
Suze: huge sums of money.

364
00:23:44,229 --> 00:23:48,449
Suze: What you have to understand is that certificates of deposits

365
00:23:48,739 --> 00:23:56,290
Suze: for investments under $250,000 in banks or credit unions or

366
00:23:56,300 --> 00:24:03,129
Suze: treasuries or even money market accounts at financial institutions, they

367
00:24:03,140 --> 00:24:07,989
Suze: really are safe and sound and rather than just having

368
00:24:08,000 --> 00:24:11,439
Suze: your money in a bank making maybe half a percent

369
00:24:11,449 --> 00:24:12,929
Suze: or 0.8%

370
00:24:13,369 --> 00:24:16,900
Suze: you could have it in a certificate of deposit. For instance,

371
00:24:17,010 --> 00:24:20,560
Suze: let's say you did put $200,000 in there. That would

372
00:24:20,569 --> 00:24:26,859
Suze: be at least $10,000 a year of interest. And if

373
00:24:26,869 --> 00:24:30,180
Suze: you had done this two years ago, you'd have 20

374
00:24:30,189 --> 00:24:34,880
Suze: some odd thousand dollars more just by doing a move. That

375
00:24:34,890 --> 00:24:38,000
Suze: absolutely is safe and sound.

376
00:24:38,369 --> 00:24:42,630
Suze: If you do not need this money and you know,

377
00:24:42,640 --> 00:24:46,520
Suze: you don't need this money or you designate a specific

378
00:24:46,530 --> 00:24:50,359
Suze: amount of money of what you have and you know,

379
00:24:50,369 --> 00:24:52,339
Suze: you're not going to need it for at least, let's

380
00:24:52,349 --> 00:25:04,149
Suze: say two years, then go to my alliant.com, that's myalliant.com

381
00:25:04,400 --> 00:25:07,040
Suze: and open up a CD there

382
00:25:07,310 --> 00:25:13,010
Suze: for 18 months. Just that simple. And for 18 months,

383
00:25:13,020 --> 00:25:18,449
Suze: you're gonna be making either 5.3 or 5.35% depending on

384
00:25:18,459 --> 00:25:21,290
Suze: how much money you put in there. That money is

385
00:25:21,300 --> 00:25:28,219
Suze: absolutely insured up to $250,000. So just know that at

386
00:25:28,229 --> 00:25:30,329
Suze: least start there.

387
00:25:30,819 --> 00:25:33,810
KT: Ok, Suze, my last question, this is from Donna.

388
00:25:34,810 --> 00:25:38,280
KT: Good morning, Suze and KT. I wanted to give a

389
00:25:38,290 --> 00:25:42,359
KT: big thank you for a great Sunday school this past weekend.

390
00:25:42,560 --> 00:25:46,020
KT: So she loved it. I have a quick question regarding

391
00:25:46,030 --> 00:25:47,780
KT: Vanguard's ETF S.

392
00:25:48,219 --> 00:25:51,699
KT: My accounts are in Vanguard and they just started offering

393
00:25:51,709 --> 00:25:55,800
KT: fractional shares this year but only in the ETFs or

394
00:25:55,810 --> 00:25:58,390
KT: mutual funds. Not anything else.

395
00:25:58,630 --> 00:25:59,670
Suze: Not individual stocks?

396
00:25:59,680 --> 00:26:04,660
KT: No, you mentioned QQQ, SPT. I would love to have that

397
00:26:04,670 --> 00:26:08,438
KT: but it's expensive without a fractional share purchase.

398
00:26:08,459 --> 00:26:09,510
Suze: It's almost $400 a share.

399
00:26:09,729 --> 00:26:13,379
KT: Is VOO and VTT just as good or should I

400
00:26:13,390 --> 00:26:16,639
KT: move to Fidelity? So listen up everyone.

401
00:26:16,900 --> 00:26:19,188
KT: She wants to get out of Vanguard to go to

402
00:26:19,199 --> 00:26:22,958
KT: Fidelity so she can purchase anything in fractional shares.

403
00:26:23,729 --> 00:26:23,839
Suze: You bet you should. 

404
00:26:23,849 --> 00:26:27,060
KT: I have been contemplating the move for a while because of this.

405
00:26:27,150 --> 00:26:31,079
KT: She can only place $100 a month in her Roth.

406
00:26:31,280 --> 00:26:33,119
KT: And then she said I am DCA.

407
00:26:33,714 --> 00:26:34,474
KT: What does that mean?

408
00:26:34,484 --> 00:26:38,795
Suze: Dollar cost averaging. What do you think it was like OCD,

409
00:26:38,805 --> 00:26:39,744
Suze: something like that?

410
00:26:40,045 --> 00:26:43,255
KT: Yea, "I am DCA." She's 61 and she's trying to save as much

411
00:26:43,265 --> 00:26:43,574
KT: as she did.

412
00:26:43,935 --> 00:26:45,854
Suze: You know, I have to tell you I ran into

413
00:26:45,864 --> 00:26:50,765
Suze: this problem last week with Colo's account, I wanted to

414
00:26:50,775 --> 00:26:51,594
Suze: buy him

415
00:26:52,079 --> 00:26:56,020
Suze: QQQ, but I didn't want to buy him one full share.

416
00:26:56,030 --> 00:26:59,219
Suze: I did only want to put in maybe $100 for

417
00:26:59,229 --> 00:27:03,069
Suze: him or $200. And the firm that I have his

418
00:27:03,079 --> 00:27:04,410
Suze: Roth IRA with

419
00:27:04,869 --> 00:27:09,209
Suze: does not do fractional shares and I cannot tell you

420
00:27:09,219 --> 00:27:13,449
Suze: how aggravated I was at that if I were you

421
00:27:13,640 --> 00:27:18,170
Suze: and Fidelity does do fractional shares, which means that if

422
00:27:18,180 --> 00:27:22,129
Suze: one share of stock, everybody is just, let's say $400

423
00:27:22,140 --> 00:27:26,010
Suze: and all you want to invest in it is $15.

424
00:27:26,020 --> 00:27:30,969
Suze: They let you do that. And so if I were you,

425
00:27:31,030 --> 00:27:33,609
Suze: I would switch my account number one

426
00:27:33,979 --> 00:27:37,500
Suze: and number two, I might be doing so as well

427
00:27:37,510 --> 00:27:40,469
Suze: for Colo. All right, KT, do you know what time

428
00:27:40,479 --> 00:27:40,859
Suze: it is?

429
00:27:40,869 --> 00:27:42,399
KT: Quizzy time, Suze.

430
00:27:42,770 --> 00:27:46,540
Suze: All right, everybody. This is quizzy time where I asked

431
00:27:46,550 --> 00:27:49,959
Suze: KT and all of you a question and let's just

432
00:27:49,969 --> 00:27:53,959
Suze: see if you can answer it. Now, last Sunday,

433
00:27:54,729 --> 00:27:59,869
Suze: I did a Suze School talking about the seven magnificent

434
00:27:59,880 --> 00:28:06,359
Suze: stocks that really made the markets move. And on Sunday

435
00:28:06,369 --> 00:28:07,208
Suze: morning

436
00:28:07,900 --> 00:28:12,000
Suze: after I did that, I actually sat down with KT,

437
00:28:12,500 --> 00:28:15,209
Suze: my sister in law, her twin sister and my brother

438
00:28:15,219 --> 00:28:17,410
Suze: in law, her twin sister's husband...

439
00:28:17,849 --> 00:28:19,839
KT: And Colo.

440
00:28:20,459 --> 00:28:24,719
Suze: Yes, Colo was with us for breakfast. And as we were having breakfast,

441
00:28:24,849 --> 00:28:30,160
Suze: everybody intently listened to that podcast.

442
00:28:30,810 --> 00:28:35,650
Suze: And again on that podcast, I named the seven stocks

443
00:28:35,760 --> 00:28:39,760
Suze: that seriously moved the stock market. If you didn't own

444
00:28:39,770 --> 00:28:43,050
Suze: these this year, you really didn't make that much money

445
00:28:43,060 --> 00:28:45,790
Suze: at all in the stock market. So,

446
00:28:46,510 --> 00:28:47,130
Suze: KT

447
00:28:49,339 --> 00:28:49,839
KT: (Laughs) What?

448
00:28:51,810 --> 00:28:58,219
Suze: Your quizzy today, and everybody's quizzy is: Can you remember the

449
00:28:58,229 --> 00:29:03,300
Suze: seven stocks that I happened to name.

450
00:29:03,780 --> 00:29:07,569
KT: Oh no. Alright, give me a hint? I can remember like probably five

451
00:29:07,579 --> 00:29:08,890
KT: of them. But give me a hint.

452
00:29:08,900 --> 00:29:10,329
Suze: Ok the hint is...

453
00:29:10,709 --> 00:29:13,880
Suze: one of my favorite people in life was my aunt.

454
00:29:13,900 --> 00:29:14,729
KT: That's true.

455
00:29:15,000 --> 00:29:18,640
Suze: One of your favorite people in life was your mama.

456
00:29:19,300 --> 00:29:24,839
Suze: But let's spell aunt ANT not AUNT... so aunt Mama.

457
00:29:25,459 --> 00:29:26,949
KT: So that's my hint?

458
00:29:27,489 --> 00:29:29,939
Suze: That's your hint. Aunt Mama.

459
00:29:31,239 --> 00:29:34,489
KT: OK. The A stock I can remember pretty easily.

460
00:29:35,020 --> 00:29:37,449
KT: So the first one I, I love because I have

461
00:29:37,459 --> 00:29:41,420
KT: lots of it is Apple, right? The N is a

462
00:29:41,430 --> 00:29:44,339
KT: little tricky because I don't, I don't remember this one

463
00:29:44,349 --> 00:29:49,949
KT: but it was N via N via envy. NVIDIA, NVIDIA

464
00:29:51,844 --> 00:29:54,324
KT: T, easy: Tesla. Tesla.

465
00:29:55,204 --> 00:30:00,234
Suze: Ok that was ANT, now mama - M A M A. What do they stand for?

466
00:30:01,285 --> 00:30:04,074
KT: M is definitely Microsoft. I know we have a lot of that.

467
00:30:04,084 --> 00:30:05,074
KT: Microsoft

468
00:30:05,750 --> 00:30:13,699
KT: um A... oh, Suze's favorite stock to play on Amazon. Amazon.

469
00:30:15,170 --> 00:30:16,819
KT: I have, I have another M...

470
00:30:18,260 --> 00:30:19,349
Suze: KT, you bought it at 90 after I said I wouldn't touch it. 

471
00:30:21,250 --> 00:30:21,310
KT: Meta! I like Mark.

472
00:30:26,199 --> 00:30:30,260
Suze: It tripled your money in that. Now the last one

473
00:30:30,270 --> 00:30:34,180
Suze: may confuse everybody but KT will probably get it.

474
00:30:34,599 --> 00:30:38,310
KT: I remember that the other a because everyone calls it

475
00:30:38,319 --> 00:30:40,939
KT: by a different name but it's Alphabet but we all

476
00:30:40,949 --> 00:30:45,579
KT: refer to it as Google but it's Alphabet. Wait, so wait, wait,

477
00:30:46,079 --> 00:30:50,390
KT: let me do it. Aunt Mama. Ready everybody. Apple and

478
00:30:50,400 --> 00:30:58,989
KT: NVIDIA NVIDIA Tesla. East, ANT.  Mama Microsoft Amazon.

479
00:31:00,290 --> 00:31:03,209
KT: Um Meta and alphabet.

480
00:31:03,219 --> 00:31:05,170
Suze: Yes. Better known as Google as well.

481
00:31:05,400 --> 00:31:05,969
KT: I got it.

482
00:31:05,979 --> 00:31:08,229
Suze: Yes! Ding, ding, ding, ding, ding, ding, ding.

483
00:31:08,689 --> 00:31:11,640
KT: I could only actually without these hints, I could only

484
00:31:11,650 --> 00:31:12,670
KT: get five of them

485
00:31:13,619 --> 00:31:18,050
KT: but I got all the spectacular seven or the what

486
00:31:18,060 --> 00:31:18,750
KT: did you call it?

487
00:31:18,810 --> 00:31:24,170
Suze: Magnificent seven. Alright, everybody. So if you want to remember

488
00:31:24,180 --> 00:31:26,719
Suze: those stocks, remember: ANT MAMA.

489
00:31:30,479 --> 00:31:32,560
KT: Let's give this test to Colo.

490
00:31:33,430 --> 00:31:34,699
Suze: Ok, we can do that.

491
00:31:34,709 --> 00:31:37,959
KT: Because he loves to read his little stock portfolio.

492
00:31:38,310 --> 00:31:41,250
Suze: So what do we want to tell everybody?

493
00:31:41,260 --> 00:31:44,729
KT: Listen, everyone today wherever we go,

494
00:31:45,469 --> 00:31:52,250
KT: I will create a more peaceful, joyful and loving world.

495
00:31:52,339 --> 00:31:56,650
Suze: And listen, if you all do that, if you all

496
00:31:56,660 --> 00:31:59,780
Suze: really try your best just to even do one of

497
00:31:59,790 --> 00:32:05,530
Suze: those things, I promise you. and so does KT, that

498
00:32:05,540 --> 00:32:09,010
Suze: you will be unstoppable.