Suze: May 8th, 2025. Welcome everybody to the Women and Money podcast.
KT: And everyone smart enough to listen.
Suze: I was just gonna say, did I just see you almost interrupt
Suze: me there?
KT: Yes, because this is Ask KT and Suze anything Thursday.
Suze: And what else is today?
Suze: What else is today besides May 8th?
Suze: It's the day before May 9th.
KT: Oh, Suze, you're so corny. These jokes are so corny.
KT: May 9th is my brother Bob's birthday, and he's in
KT: Key West, and I know what he's doing with his wife.
Suze: Drinking.
KT: Margaritaville, baby, here we come.
Suze: Does he drink a lot of margaritas?
KT: You know what, I think that he has a cocktail
KT: or two on his birthday, but they love Key West.
KT: They love they and Jimmy Buffett. They love Key West.
Suze: All right, but.
Suze: We have May 8th today, May 9th tomorrow, and the
Suze: day after May 9th is...
KT: Our anniversary.
Suze: May 10th.
KT: One our anniversaries. We have 3 or 4,
Suze: yes,
Suze: but this one May 10th.
Suze: Is the day that we kissed, kissed
KT: We don't, OK, too much information. Let's get on with the questions.
Suze: Right,
Suze: but it is the day.
KT: This is
KT: the May 10th was the first kiss Suze ever gave me,
KT: and I'll never forget it. And that's all I'm gonna say, everybody.
Suze: All right, fine. All right, bye. Happy anniversary, KT.
KT: Early.
Suze: 25 years and counting. We're going on 25.
KT: What are we gonna do?
Suze: I know what...
KT: You know what, everybody send to the wall suggestions of
KT: what you think we should do, how Suze and KT
KT: should celebrate their 25 magnificent glorious years together.
Suze: We're starting 25. I know exactly what I want to do.
KT: Well, well, you're gonna reveal it now?
Suze: No, it's gonna
Suze: be a surprise.
KT: Ok. All right.
Suze: Now, before we begin, uh, we kind of already begun,
Suze: but that's besides the point.
Suze: I want all of you to go to the Women
Suze: and Money Community app, and I want you to go
Suze: to the wall. If you don't have it, you can
Suze: download it at Google Play or Apple Apps to search
Suze: women and money, and right there on the wall. The
Suze: other day I posted the most complete explanation.
Suze: Answers to all your possible questions, resources that you will
Suze: need to know if you have student loans, especially if
Suze: you have student loans now that are in default because
Suze: starting just the other day.
Suze: And there are 5.2 million of you out there. The
Suze: government has the legal authority to absolutely garnish your wages,
Suze: your Social Security checks, your tax refund.
Suze: Everything now, so you have to know if you're in
Suze: default what to do if you're not in default what
Suze: you should do if you are part of the save
Suze: program what you should do if you have a parent
Suze: plus loan, what you should do, and if you go
Suze: to the wall, just look for it, you will find
Suze: everything you need to know, OK.
Suze: All right, what you got for me?
KT: I've, I've got first, um, a letter from Rita.
KT: I love this. Rita is someone that sent a photograph.
KT: I wish we were on a video so I could
KT: show you all. Rita is sitting in front of her
KT: sewing machine with a quilt with the biggest smile on
KT: her face and her beautiful, beautiful, shiny white hair, and
KT: she just looks like the picture of health at 86
KT: years old, and she sent this, Dear Suze,
KT: It's been a little over a year since we corresponded.
KT: You gave me permission to travel, and I did. This
KT: year has found me in many countries, including China, Indonesia, Antarctica,
KT: and most of the Mediterranean and Europe. Thank you for
KT: your encouragement. I am now 86. I have a little
KT: less money, but I am extremely well traveled. You're encouragement
KT: over the years, your sharing of knowledge and your support
KT: of women have been some of the reasons you are
KT: successful and loved. I will continue to follow you and
KT: tell others to listen to Susie. Please hang in there.
KT: We need you now more than ever. God bless you, Rita.
KT: And Rita, this is KT telling you I'm so happy
KT: that Susie approved you to travel the world because you
KT: did
KT: it.
Suze: And she took her aid with her
Suze: as
Suze: well.
KT: Oh, I didn't know that. So she, she and Suze
KT: were corresponding because she, she, I know that you gave
KT: her permission. She's been writing to you.
Suze: Yes, but that also, so Rita, maybe we'll take a
Suze: picture of her email that she sent of her picture,
Suze: but anyway.
Suze: Here's the scoop, what you need to understand from that email.
Suze: If you were to write in to ask Suze podcast
Suze: podcast at gmail.com. You have a question. You want to
Suze: know something, you want to vent. You want to tell
Suze: me that I was wrong. I don't care what. You
Suze: just never know when you will hear from me directly,
Suze: and I can tell you,
Suze: the past few days, she's I had been rampant with
Suze: very long responses to quite a few women that wrote
Suze: me back and said, I can't believe it.
Suze: I can't believe it. You answered every one of my
Suze: questions and some anyway, all right, KT.
KT: All right. The next email, Suze, kind of touched my heart.
KT: I really love this couple, says Dear Suze and KT.
KT: I've been listening to you religiously since the pandemic. It
KT: has been my favorite thing to tell my husband that
KT: I'm taking off on a walk and going to Suze School.
KT: My husband and I are in our mid to late 40s.
KT: We have always been savers. When all of our peers
KT: were spending on frivolous things, we were carefully and cautiously
KT: piling money away. We have no children and have never
KT: owned a home, never thought it made financial sense since
KT: we had rent controlled housing.
KT: Now this is the part, Suze, that made me get
KT: choked up a little bit. She said, I'm writing because
KT: my husband has stage 4 cancer and may not survive
KT: more than 5 to 10 years. Our biggest dream has
KT: been to own a home together. We were considering buying
KT: a $1.2 million dollar home later this year.
KT: And we are wondering if it makes sense to do so.
KT: I would like to create a nurturing environment for us together.
KT: I envision us cooking and gardening, and my hope is
KT: that this home can bring us comfort during this uncertain time.
KT: Does this make sense? Should we continue to rent at
KT: $3000 a month and let our money grow in the
KT: stock market, or should we buy outright in cash?
KT: Why this is especially strategic is that his condition may
KT: cause an early retirement for us both. I'm not really
KT: willing to work all the time when I don't know
KT: how long he'll be around, and I want to make
KT: sure I spend as much time with him as possible, said.
Suze: Yes, it is, um.
Suze: Here's what I would say to you, and I just
Suze: want you to think about this. You say that your
Suze: biggest dream has been to own a home together.
Suze: I'm sorry, my love, but I need to correct you.
Suze: Your biggest dream now is that you have as many
Suze: great years left with the love of your life.
Suze: And may those years be stress free. Now I know
Suze: medical problems can cause tremendous stress, but guess what else
Suze: can cause stress.
Suze: A home that you thought was going to be your
Suze: dream home all of a sudden needs a new roof,
Suze: a new refrigerator. It's flooding, it's this, it's that, a house,
Suze: I can tell you, cause obviously you haven't owned a
Suze: home yet. I would honestly say that there is no
Suze: bigger stress in our life, would you say so, KT,
Suze: than our home.
KT: I can tell her for sure we used to have
KT: 5 homes, right,
Suze: and things are always breaking things always need to be done,
Suze: things always have to be replaced and it's seriously expensive.
Suze: I just want you to think about that, so you say.
Suze: I would like to create a nurturing environment for us together.
Suze: I want you to stop for a second. I want
Suze: you to think back on all the years that you've
Suze: lived in this $3000 a month rent controlled apartment.
Suze: Were those not nurturing years? Were those not years that
Suze: brought tremendous love to you and freedom, because unlike your friends,
Suze: you were saving money, you were possibly going on trips,
Suze: you were doing all kinds of things you envision us
Suze: cooking and gardening together.
Suze: Did you never cook with your husband in your $3000
Suze: a month rental?
Suze: Gardening or you can do what KT does right click
Suze: and grow.
KT: CLick and grow right in, in, in the home I
KT: don't have a garden in.
Suze: Right, the Florida one. So anyway, the question at hand
Suze: is should you continue to rent at $3000 a month
Suze: and let our money grow in the stock market.
Suze: Or should you buy outright in cash? Number one, I'm
Suze: going to tell you I don't think you should be
Suze: spending $1.2 million and buying a home outright right now.
Suze: Not only can something happen earlier to your husband, I
Suze: need you to think, what if something happened to you?
Suze: That would bring tremendous stress to your husband at a
Suze: time
Suze: that that's not what he needs in his life right
Suze: now to heal. So it's not the $1.2 million that
Suze: I'm worried about. It's the closing costs, the moving cost,
Suze: the furnishing costs, everything that's needed, the property tax, the insurance,
Suze: the maintenance, all those three things alone will probably run
Suze: you about $41,000 a year, about 5000 or $6000 more.
Suze: Than what you're paying right now in rent and it's
Suze: not just that.
Suze: When you own a home today, you better take into
Suze: consideration floods, hurricanes, tornadoes, fires, and so forth.
Suze: So no, I wouldn't spend $1.2 million. You want to
Suze: buy a smaller home? OK, but I want you to
Suze: get this. If you left that $1.2 million just sitting
Suze: in the markets averaging an 8% annual average rate of return,
Suze: and you did so for 20 years when you were
Suze: in your sixties.
Suze: Do you know that that money would be worth approximately
Suze: $5.6 million? So here's the question at hand.
Suze: Are you willing to spend $5.6 million of future money?
Suze: For what you say is your dream. Your dream is
Suze: being with your husband, loving him up, having a great time,
Suze: and having the freedom also to travel. So sorry, sweetheart,
Suze: I would not be buying a home if I were you.
Suze: All right.
KT: OK, next question is from Sarah.
Suze: Were you surprised that was my answer?
KT: A little bit, but not, but knowing you, it didn't
KT: make sense to me that they were gonna do this
KT: when he's got...
KT: you know, 5 to 10 years or less, but the
KT: point is it wasn't even him, it's her it's her,
KT: that's right. OK, so next question is from Sarah. Thank
KT: you for all you do to teach us. I've been driving.
KT: Suze can relate to this question, everybody listen up. I've
KT: been driving my 2003 Honda Accord.
KT: Since 2007, and I have gotten used to a no
KT: car payment. I'm finally after 227,000 miles in need of
KT: a new car. Those Hondas are really good.
KT: So I've been preapproved for a $25,000 car loan around 5.95%. However,
KT: I'm debating whether I should go ahead with the loan
KT: or take money penalty free from my Roth IRA. I
KT: talked to my financial adviser. He said I could remove
KT: the money from my wroth as long as it was
KT: in the account for 5 years and only took out
KT: the principal.
KT: I am 47.
Suze: He did
Suze: tell her that, did he?
KT: Yeah, wait,
KT: I'm 47...
Suze: Let me at this one.
KT: Wait, wait, wait. I'm 47 years old. I have around
KT: 400,000 in my retirement accounts depending on the day.
KT: She said she has 13,000 liquid and cash. She makes
KT: a good living, about 90,000 a year, and she puts
KT: $750 per paycheck in her savings and 416 in my retirement.
KT: So at the end of the day, the question is, Suze,
KT: what do you suggest I do take out the car
KT: loan or remove money from my Roth IRA without penalty?
KT: All right, everybody, I can see it now. Here we go.
KT: That financial adviser better get ready. Big slap down on
KT: the way.
Suze: First of all, my dear Sarah, that is the worst.
Suze: That is the worst financial advice I've ever heard in
Suze: my life that you could take it from your Roth
Suze: IRA as long as it has been in there at
Suze: least 5 years wrong.
Suze: And it was principle only. Your original contributions you could
Suze: take out any time you want regardless of your age
Suze: or how long the account has been open. The 5
Suze: year period does not apply on any level to your
Suze: original contribution, so the mere fact that he said that
Suze: tells me he doesn't know what he's talking about #1. #2,
Suze: if you were to take money out of your Roth IRA.
Suze: You can never make it back. It's not like you
Suze: can put it back, so you have to look at, right,
Suze: that you said that you're in your late 40s. So
Suze: the correct way a very smart financial adviser would have
Suze: looked at this is that if you took out, let's
Suze: just say $25,000 to buy a depreciating asset.
Suze: That will do nothing more than go down in value
Suze: very quickly.
Suze: It isn't $25,000 cause if you were to have left
Suze: that $25,000 in there at just a mere 8% annual
Suze: average rate of return for 25 years, 72 years of age,
Suze: not a big deal, you're looking at $171,000 tax free.
Suze: So that's what your financial adviser is telling you.
Suze: That you should spend on this car, most ridiculous thing
Suze: I've ever heard in my life, number 10, whatever I
Suze: remember it is, what I would do is if you
Suze: can do a $25,000 loan at 5.95% and you did
Suze: it over a three year period of time.
Suze: I think that it would be approximately $760 a month.
Suze: You would pay about $2300 in interest. So all right,
Suze: maybe you would have spent 27 to $28,000 in total
Suze: for the car. So if you can afford that, so
Suze: that's what I would do $13,000 leave it there emergency
Suze: savings account, don't get tricky here. You can afford this loan,
Suze: so just take it.
Suze: And also you might want to take the time to
Suze: find another financial adviser. All right, KT, next.
KT: Feisty. OK,
Suze: Well, here, wait, I just have to say something.
Suze: You go and you ask experts.
Suze: What should you do with your hard earned money with
Suze: everything that you've saved you trust them.
KT: I know she
KT: gets crazy. I get they give you wrong advice and
KT: Suze wants to string them up, really, OK, so next
KT: question is anonymous, Suze.
KT: It's a woman in her early 40s. She recently left
KT: a job after close to 18 years that she was
KT: very happy in but felt a little stagnant
Suze: I already wrote woman back.
KT: Well, wait a minute,
KT: let's tell everybody what what she has, what she's asking. Hold,
KT: hold on, hold your horses.
KT: So she said I was very happy but felt a
KT: little stagnant professionally and that I wasn't being paid what
KT: I deserved despite asking for greater raises over the past
KT: 10 years. A great position opened up closer to home,
KT: and I took it as a sign to dust off
KT: my resume and see what was out there. Everything went well.
KT: I asked for more than what I wanted to be paid,
KT: and they offered me the job at the salary I
KT: dreamed of.
KT: So things were going well at first, maybe a honeymoon phase,
KT: but now I'm realizing I miss my old job and
KT: I miss my friends there dearly. It's not possible for
KT: me to return to my old job right now, although
KT: I have thought about going back. This isn't really a
KT: money question, Suzy, but more of a life question which
KT: you're all so amazing at answering.
KT: I feel like I left a happy job for the money,
KT: and now I'm having regrets. Any advice? Suze, these are
KT: the kind of life changes that I think a lot
KT: of people experience. So why don't you share with everyone
KT: what you shared with our friend here.
Suze: Yeah, want to know who else I shared this answer with?
Suze: And I didn't tell them who it was from or whatever,
Suze: but with Sophia last night.
Suze: Sophia, who is our niece who's now 25, and oh,
Suze: I just got goosebumps look. I love this.
KT: She has
KT: a great boyfriend.
Suze: She
Suze: has a
Suze: great
KT: she wants us to get to know him, which is
KT: a signal for... (KT and Suze hum the Wedding March).
Suze: Anyway, and we were talking and she was saying Aunt Suze,
Suze: what are you doing? and I said I'm answering emails
Suze: and she said, and what are you telling people? And
Suze: I said well let me give you an example of
Suze: one that I just answered. I'm just going to send
Suze: you the answer I sent this person and Sophia I
Suze: want you to keep this email.
Suze: Because one day 15 years from now when it's possible
Suze: Aunt Kathy and Aunt Suze may not be here, you
Suze: never know. You never know, just know that this answer
Suze: will come in handy. So instead of me just telling
Suze: you what I said to, um, this person, let me
Suze: read to you what I said. In fact, KT, want
Suze: me to read it? I want you to read
Suze: it so
KT: I so I save her voice. Hold on.
KT: So dear anonymously yours,
Suze: That is how this person...
KT: that's how she asked us to to address her.
Suze: Now wait, imagine getting this email from me, all right?
Suze: KT is about to read you the answer that I sent.
KT: First, I want to say this. You are not alone.
KT: So many women in their forties find themselves at this
KT: exact crossroad torn between the comfort of where they were
KT: and the unknown of where they are now. You made
KT: a bold, courageous move. You advocated for yourself after years
KT: of being undervalued, and you were rewarded. You asked for
KT: what you deserved, and you got it. That is a
KT: victory even if it doesn't feel like the right one now,
KT: but here's the part that's hard. Growth rarely feels good
KT: in the moment, especially when we've left a place where
KT: we felt safe, even if we were underpaid or overlooked,
KT: we had connection, routine, identity, and now you're rebuilding all
KT: of that in unfamiliar territory.
KT: That ache you're feeling, it's not necessarily a sign that
KT: you made a mistake. It might just be grief. Oh,
KT: that's interesting, Suze, that you said that. You're grieving the familiarity.
KT: The friendships, the version of yourself that felt rooted, but
KT: don't confuse grief with regret. You can miss something and
KT: still know that leaving it was the right decision. Here's
KT: what I want you to do. Number 1, give it
KT: time but not forever. Set a time frame, six
KT: months from now, how do you want to feel what
KT: would need to change for you to feel fulfilled? Write
KT: that down, then ask, are those changes within your control
KT: at this job? Can you seek mentorship, a new project,
KT: a different department? Number 2, reconnect with your why.
KT: You didn't just leave for the money. You left because
KT: you were stagnant, underpaid, unseen, and that matters. You deserve
KT: to be in a place that values you not just
KT: emotionally but financially too. Number 3, stay open to what's next.
KT: You are not stuck. If this role isn't it, something
KT: else will be.
KT: But let this experience be your teacher. What are you
KT: learning about yourself? What kind of workplace do you thrive in?
KT: What compromises are you willing or not willing to make?
KT: And yes, I agree with you. God has you here
KT: for a reason. Sometimes we're placed in uncomfortable spaces, not
KT: because we've taken a wrong turn, but because we're being
KT: stretched into our next version of power.
KT: You're not trapped, my friend. You're in transition, and transitions
KT: are always the most tender part of our lives. Be
KT: kind to yourself here. You're doing braver things than you've
KT: given yourself credit for with all my heart, Suze.
KT: Wow, that is a great answer, not just for this
KT: woman and Sophia, but for everyone,
Suze: And it's that kind of answer I have to tell you, KT,
Suze: that I wrote to at least 4, 5, 6, 7
Suze: women the other night when you were saying, what are
Suze: you doing?
KT: I know she's been really, really very focused on
KT: responding. I see her surrounded by all these emails and
KT: papers and everything she prints out for our podcast and
KT: I'm wondering what she's doing like she's answering them now.
Suze: Yeah,
Suze: and so why do I do that, everybody? why do
Suze: I spend my time writing emails like that back to
Suze: an email question that I get from somebody I don't
Suze: even know.
Suze: And...
KT: Because you're Suze.
Suze: And what did I tell you just a little bit ago?
Suze: What is my job in life?
Suze: And my job in life and I told this to
Suze: Sophia as well to meet the needs of the people
Suze: and the places and the times around me.
Suze: And offering those services to God. Next question, KT.
KT: That's gonna make me cry.
Suze: Made Sophia cry too.
KT: Yeah, it's gonna make me cry. OK, this question is
KT: really a perfect one to come...
Suze: Why are you crying?
KT: Because that is your, that's your job.
Suze: That's my job. It pays well. I get dividends of grace.
KT: You should write that one down, dividends of grace. So
KT: this is from Inga. Next question. I was planning on
KT: retiring in 6 months. What to do?
KT: She's been an ER nurse for 39 years, and the,
KT: and the email ends with Suze, it's time.
KT: Inga, 39 years.
Suze: And here's why...
Suze: You are such an angel, my
Suze: friend, and actually I chose this one and I gave
Suze: it to KT. She said, What you want me to
Suze: read one line? I said, I do because she's an
Suze: ER nurse.
KT: 39 years.
Suze: 39 years learning all the skills needed to save the
Suze: lives of the thousands and the thousands and the thousands
Suze: of people
Suze: that came through those ER doors you have prepared yourself
Suze: for that, and by preparing yourself for that you have
Suze: saved other people's lives. You need to take the time
Suze: and look at all of the things that you have
Suze: accumulated your retirement accounts, your equity in your home, everything,
Suze: and you need to look at it in the same way.
Suze: As you trained to be an ER nurse, are you
Suze: prepared to be able to retire? So I just want
Suze: you to know you have what it takes to be
Suze: an ER nurse, sweetheart, you have what it takes to
Suze: do anything, and if you're not ready yet,
Suze: start making changes alright.
KT: 39 years, she's an angel. OK, from Melissa. Hi KT
KT: and Suze. I'm a longtime listener of your program and
KT: I've learned so much.
KT: I've always admired your guidance and no nonsense financial advice.
KT: I'm 68 years old, and I have a question about
KT: planning for old age with no family or children. Who
KT: can be my financial power of attorney if I don't
KT: have any one? My friends are unable to serve, so Suze,
KT: how do I find a professional who I can trust
KT: to handle my financial and other affairs?
KT: I don't own any real estate, but I have 900,000, wow,
KT: in a Vanguard Roth and 500,000 in a Vanguard traditional.
KT: Good for you, she's 68, so what should Melissa do?
KT: This is a hard one when someone says they don't
KT: have any family or friends. They can, they can serve her.
Suze: You're freaking me out a little bit here because Melissa's
Suze: another one that I answered directly.
KT: Oh, OK.
Suze: So anyway, basically this is what I told Melissa that
Suze: she needed to do if her friends can't serve as
Suze: her financial power of attorney KT and she doesn't have
Suze: any family that she trusts.
Suze: Then yes she can hire by the way what's called
Suze: a professional fiduciary to act in that role and the
Suze: truth is Melissa, most people don't have anybody even if
Suze: they have family, even if they have certain people they
Suze: might not want, they may not want them so that's
Suze: the first thing that you need to know, right? But
Suze: what matters most seriously.
Suze: And this is, I want all of you to listen
Suze: to this, is that if you have to go that
Suze: route that you choose someone who is licensed, bonded, and
Suze: legally required to act in your best interest. Now, how
Suze: do you find somebody like that?
Suze: So I want you to start by calling your local
Suze: county probate court or visiting their website because many courts
Suze: have a list of all these licensed private professional fiduciaries
Suze: in your area and I just have to say.
Suze: This you want someone who is registered with your state
Suze: and ideally certified KT through what's called a national association
Suze: like the National Guardianship Association or the NAPFA. Do you
Suze: know how I was able to remember those initials?
KT: NFP...
Suze: N A P FA
KT: NAPFA
Suze: Because most financial advisers are always nappy, so NAPFA, but
Suze: that's besides the point, but it's the National Association of
Suze: Personal Financial Advisors. So just don't take the first one.
Suze: This is an important thing for you. In interview many,
Suze: many candidates and if you want, you can also work
Suze: with an estate attorney to make it all legal. So
Suze: there you go, and I told her, KT, how proud
Suze: I was of her because saving $900,000. Are you kidding me?
KT: And 68, she's doing really well.
Suze: All right, we're almost out
Suze: of time.
KT: I have one last one which is kind of a, a,
KT: a crazy question.
KT: All right, this question came in from Tom. It says,
KT: Yesterday I heard Jay Powell say he's keeping the rates
KT: the same. Then the term Stagflation came up, and Tom said, Suze,
KT: I was born in 1985. I really don't think I've
KT: ever experienced stagflation.
KT: What is it? Can you tell me, Suze, what that
KT: would feel like? Stagflation.
Suze: So KT, Here's kind of your little quizzy. Do you know
Suze: what stagflation is?
KT: I don't have a clue.
Suze: Where were you in, uh, when was it like between
Suze: 1979 and 1982,
KT: Hong Kong,
Suze: Hong Kong, right? And because that would be the last
Suze: time that we had stagflation.
Suze: That you would have remembered what the effect was the
Suze: first in America, the first time really in our lifetimes
Suze: was 1973 to 1975. We were
Suze: still just
Suze: a
Suze: little...
KT: I was in Studio 54
Suze: and I was like a waitress. It was there, but
Suze: we wouldn't have quite noticed it. However, 1979 to 1982, Oh,
Suze: I was a stockbroker.
Suze: And you bet I felt it. So Tom, the reason
Suze: that you don't know about stagflation is that the economy
Suze: has not experienced stagflation since you were born, just that simple.
Suze: So what is stagflation? And really very simple, KT you
Suze: experience very high inflation.
Suze: But stagnant growth, so the economy doesn't grow.
Suze: But inflation is growing, so when that happens, you also
Suze: often experience very high unemployment and living through one.
Suze: I can tell you what happened in those years, 79
Suze: to 82, is that really your paycheck doesn't go as far.
Suze: So every month you notice that the groceries, the utilities,
Suze: things that you're noticing right now, get all of that.
Suze: They all seem to jump overnight, which they have, which
Suze: they are right now and again, right, your jobs feel
Suze: you're really scared and look at what's happening in the
Suze: national government, so you're scared that you're going to lose
Suze: your job. Also, you start to postpone seriously big purchases
Suze: you stop buying a car, you don't remodel your home,
Suze: you don't take a vacation.
Suze: You suddenly feel like everything's out you're stuck. Next, usually
Suze: through a stagflation environment.
Suze: You are just freaked out. You really are. You're checking prices.
Suze: You're reading every sale flyer. You would be great here.
Suze: You're clipping coupons. You're switching brands just to keep the
Suze: family budget afloat. You do it because you love to
Suze: save money, but that's essentially what happens. So you know,
Suze: cash loses its value.
Suze: Um, bonds get hurt. Those kinds of things happen. So again,
Suze: in short,
Suze: Stagflation is what KT?
KT: Stagflation is when inflation is on the rise and everything
KT: else is stagnant, and, and, and it puts you in
KT: this state of what I call limbo. You don't know
KT: where to go, how to turn, but you're really aware
KT: that change, the changes around you are not ones that
KT: you
KT: want.
Suze: Yeah, it's like, in short, really you're stuck, so stagflation
Suze: simply means paying more for everything.
Suze: While your opportunities to earn, get a better job and everything.
Suze: are kind of stuck. It's just
Suze: that simple.
KT: So let me ask a question. We, we are entering
KT: stagflation probably and when do you feel the peak of
KT: stagflation will be aware and felt by everyone in America?
Suze: I think
Suze: it's coming shortly, you know, like
KT: ... this summer.
Suze: I don't know exactly, right, but you know, but it's
Suze: on the way. Well, everybody has spent so much time
Suze: talking about recession, recession, recession. Oh, who cares?
Suze: I think stagflation in my opinion is worse, and I
Suze: think if that does start to happen and we haven't
Suze: come off this tariff thing yet, that's when we'll see
Suze: what happens or not but that Tom is the answer
Suze: to your question. So until Sunday when there will be
Suze: another Suze School, and she's looking at me like, can
Suze: I come sit in there again on Sunday?
Suze: Is that what you're looking at me?
KT: Yea.
Suze: Because that will be the 11th. No, you cannot. Oh,
Suze: she's just looking at me. That means she..
KT: I might sneak in. I, I like to just listen.
KT: I sit back and listen.
Suze: Buut you know
Suze: what else Sunday is?
KT: It's Mother's Day.
Suze: So you can all sleep in, right? You can all
Suze: listen to the podcast later on.
Suze: We wish you all a very happy Mother's Day, of course,
Suze: and until then there's only one thing that we want
Suze: you to remember when it comes to your money. And
Suze: what is that, KT?
KT: No
KT: stagflation. No, people first, people first,
Suze: then money,
KT: then things.
Suze: Now you stay safe. Bye bye.