1 00:00:35,180 --> 00:00:42,500 KT: gobble, gobble, gobble, gobble, gobble, gobble, gobble, gobble, gobble, gobble 2 00:00:43,590 --> 00:00:46,019 Suze: It's here.. it's here...our favorite holiday of the year 3 00:00:46,720 --> 00:00:53,040 KT: and it's to yours too. It's Suze's... no one buys gifts. 4 00:00:53,040 --> 00:00:55,470 KT: We actually just cook. 5 00:00:55,870 --> 00:01:00,880 Suze: Nobody buys gifts anyway. But anyway, it's true, it's here. 6 00:01:00,880 --> 00:01:04,940 Suze: So from us to all of you, we wish you 7 00:01:04,940 --> 00:01:11,110 Suze: a very, very Happy Thanksgiving. Now with that said, 8 00:01:11,410 --> 00:01:14,789 Suze: I want you to listen throughout this podcast, not only 9 00:01:14,790 --> 00:01:18,800 Suze: because it's the Women and Money podcast and Everyone's smart 10 00:01:18,800 --> 00:01:23,440 Suze: enough to listen. Not only is it the Ask KT 11 00:01:23,450 --> 00:01:28,060 Suze: and Suze edition of the Women and Money podcast, but 12 00:01:28,069 --> 00:01:31,030 Suze: we also have two announcements 13 00:01:31,315 --> 00:01:33,395 Suze: that I want to make to you and one that 14 00:01:33,395 --> 00:01:37,275 Suze: I think you should absolutely take advantage of and the 15 00:01:37,275 --> 00:01:41,714 Suze: other one you should absolutely take advantage of. But for now, KT, 16 00:01:41,715 --> 00:01:42,865 Suze: where do you want to start? 17 00:01:42,875 --> 00:01:44,205 KT: Sweepstakes baby! 18 00:01:44,215 --> 00:01:49,585 Suze: That's the first announcement then. Alright, everybody, you need to 19 00:01:49,585 --> 00:01:52,925 Suze: enter and become part of 20 00:01:53,390 --> 00:01:59,240 Suze: the Suze holiday sweepstakes Between now and December 15th, if 21 00:01:59,240 --> 00:02:03,710 Suze: you already have an Ultimate Opportunity Savings account, you are 22 00:02:03,720 --> 00:02:08,160 Suze: automatically entered into the sweepstakes where two of you will 23 00:02:08,160 --> 00:02:13,940 Suze: win $10,000 each. At this point, if you're already a 24 00:02:13,940 --> 00:02:18,100 Suze: member of the Alliant Credit Union, you should have gotten 25 00:02:18,100 --> 00:02:19,310 Suze: an email 26 00:02:19,610 --> 00:02:23,350 Suze: welcoming you telling you that you were entered and giving 27 00:02:23,350 --> 00:02:28,079 Suze: you a referral link. If you send that link to 28 00:02:28,080 --> 00:02:33,670 Suze: your friends and family members, everybody and they open up 29 00:02:33,680 --> 00:02:39,570 Suze: with that link and ultimate opportunity savings account. Guess what? Everybody, 30 00:02:39,740 --> 00:02:44,130 Suze: they're entered into the sweepstakes and you get another entry. 31 00:02:44,270 --> 00:02:49,100 Suze: If you haven't for whatever reason, gotten an email from Alliant. 32 00:02:49,290 --> 00:02:54,180 Suze: Then just go to my Alliant A L L I 33 00:02:54,180 --> 00:02:59,580 Suze: A N T dot com slash Suze. And you'll be 34 00:02:59,580 --> 00:03:02,800 Suze: able to get your personalized link there for those of 35 00:03:02,800 --> 00:03:06,340 Suze: you who have never been a member of the Alliant 36 00:03:06,340 --> 00:03:10,860 Suze: Credit Union, go to my alliant dot com 37 00:03:11,360 --> 00:03:14,110 Suze: and it is there that you can find out about 38 00:03:14,110 --> 00:03:18,609 Suze: the ultimate opportunity savings account where if you just put 39 00:03:18,610 --> 00:03:22,050 Suze: in $100 a month every month for 12 consecutive months 40 00:03:22,060 --> 00:03:27,280 Suze: you get $100 plus. Currently you're being paid 2.5% interest 41 00:03:27,290 --> 00:03:31,820 Suze: and you will be entered into the sweepstakes. So you 42 00:03:31,820 --> 00:03:34,810 Suze: would just go to my alliant dot com. Alright KT, that was the first announcement. 43 00:03:39,570 --> 00:03:42,700 KT: They have to wait for the second one, Suze, wait 44 00:03:42,700 --> 00:03:43,750 KT: till I give them a couple of questions. 45 00:03:43,750 --> 00:03:49,380 Suze: KT would always say to, good things come in pairs now, 46 00:03:49,380 --> 00:03:51,160 Suze: why do you think she would say that to you? 47 00:03:51,170 --> 00:03:52,380 KT: Because I'm a twin. 48 00:03:52,380 --> 00:03:54,500 Suze: That's right. All right, go on. 49 00:03:54,510 --> 00:03:58,530 KT: And my twin is a good thing Lynn. I love you. Okay, 50 00:03:58,540 --> 00:04:00,490 KT: Okay, ready? This first question is from... 51 00:04:00,540 --> 00:04:03,220 Suze: Can you believe I kind of live with two of 52 00:04:03,220 --> 00:04:09,270 Suze: them because they are so identical in so many ways. 53 00:04:09,270 --> 00:04:11,760 Suze: Oh my God. Besides, but anyway, go on. 54 00:04:11,770 --> 00:04:16,180 KT: Okay, so this is from Betty, Suze, love, love, love 55 00:04:16,180 --> 00:04:19,539 KT: you both. I'm so grateful for all your advice these 56 00:04:19,540 --> 00:04:23,690 KT: last 20 years. I've been a listener. Suze. I need 57 00:04:23,690 --> 00:04:25,450 KT: to buy a used car 58 00:04:25,660 --> 00:04:28,640 KT: and I've been waiting because of what's happening with the 59 00:04:28,640 --> 00:04:32,450 KT: availability and prices of cars this year. I know you 60 00:04:32,450 --> 00:04:36,660 KT: can't predict the future, but I trust your opinion so much. 61 00:04:36,680 --> 00:04:40,060 KT: Do you think I should buy it now or wait 62 00:04:40,070 --> 00:04:45,570 KT: until January? I need to finance about $10,000 and it 63 00:04:45,570 --> 00:04:48,610 KT: kills me to have to pay such a high interest. 64 00:04:48,860 --> 00:04:52,150 KT: I plan to only finance for 24 months. 65 00:04:52,150 --> 00:04:56,280 Suze: Fabulous Betty I would wait if I were you because 66 00:04:56,279 --> 00:05:03,710 Suze: it is true that used price cars are definitely coming down. Absolutely. 67 00:05:03,710 --> 00:05:06,270 Suze: They're coming down. One of the reasons by the way 68 00:05:06,279 --> 00:05:11,350 Suze: is repossessions on the cars are going up and up 69 00:05:11,360 --> 00:05:12,710 Suze: and up and 70 00:05:12,940 --> 00:05:17,350 Suze: Those cars that are being repossessed, nobody is really buying them. 71 00:05:17,360 --> 00:05:20,200 Suze: So on the used car market prices are going down 72 00:05:20,200 --> 00:05:22,160 Suze: and down. I would wait. 73 00:05:22,390 --> 00:05:27,310 KT: Good. Next is from Audrey. Hey Suze, my son paid 74 00:05:27,310 --> 00:05:33,140 KT: off his 21,000 student loans during the pandemic. He requested 75 00:05:33,150 --> 00:05:37,810 KT: a refund from his loan servicer and has since received 76 00:05:37,820 --> 00:05:40,810 KT: the 21,000 and it is in the bank. 77 00:05:41,040 --> 00:05:43,500 KT: He did the request so that he would have a 78 00:05:43,500 --> 00:05:47,350 KT: balance to forgive in the event that the loan forgiveness 79 00:05:47,350 --> 00:05:51,239 KT: actually goes through our thought is that even if we 80 00:05:51,240 --> 00:05:54,820 KT: pay back the interest starting in January, it will be 81 00:05:54,820 --> 00:05:58,760 KT: worth it. If the forgiveness is approved. He's also a 82 00:05:58,760 --> 00:06:03,690 KT: pell grant recipients. So the amount forgiven would be 20,000. 83 00:06:04,210 --> 00:06:07,020 KT: Thank you for helping us stay on top of this? 84 00:06:07,589 --> 00:06:10,409 Suze: Well there you go. So here's what I would do 85 00:06:10,420 --> 00:06:11,610 Suze: if I were you 86 00:06:12,120 --> 00:06:15,270 Suze: leave it just like it is for now because remember 87 00:06:15,279 --> 00:06:19,980 Suze: President Biden is wanting to extend the moratorium on student 88 00:06:19,980 --> 00:06:24,100 Suze: loan repayments. Starting again in January because that's when those 89 00:06:24,100 --> 00:06:28,880 Suze: payments start to be due plus interest. If he does 90 00:06:28,890 --> 00:06:33,010 Suze: do that and there's another moratorium and this loan qualifies 91 00:06:33,010 --> 00:06:34,100 Suze: for that, 92 00:06:34,600 --> 00:06:37,750 Suze: then you would be putting that money into the bank, 93 00:06:37,750 --> 00:06:40,510 Suze: so to speak. Or a credit union you could be 94 00:06:40,510 --> 00:06:45,380 Suze: making let's say with Alliant Credit union 2.5% on that money. 95 00:06:45,430 --> 00:06:49,690 Suze: You also could be part of the Suze Holiday sweepstakes. 96 00:06:49,690 --> 00:06:54,840 Suze: Who knows? $10,000. You never know. And then just see 97 00:06:54,839 --> 00:07:00,130 Suze: what happens. Also, just on this topic, they're also making 98 00:07:00,130 --> 00:07:01,570 Suze: it or they've made it 99 00:07:02,040 --> 00:07:07,849 Suze: easier to actually bankrupt a student loan believe it or not. So, 100 00:07:07,850 --> 00:07:12,800 Suze: things are changing with student loans. We'll see what happens. 101 00:07:12,810 --> 00:07:16,720 Suze: Will this pass? Will this not? But just keep it 102 00:07:16,730 --> 00:07:19,860 Suze: right there. Making interest for yourself on it. 103 00:07:20,220 --> 00:07:25,010 Suze: And let's see what happens with President Biden's moratorium extending 104 00:07:25,010 --> 00:07:28,510 Suze: it if he needs to or the forgiveness of the loan. 105 00:07:28,520 --> 00:07:29,820 Suze: All right, go on KT. 106 00:07:30,130 --> 00:07:32,310 KT: Suze. Next question's from Lucy. 107 00:07:32,520 --> 00:07:36,410 KT: My question is after paying off my mortgage. What's the 108 00:07:36,410 --> 00:07:40,920 KT: next step? What about the title Suze? Should I transfer 109 00:07:40,920 --> 00:07:44,560 KT: my name to the title of the house right away? 110 00:07:44,570 --> 00:07:49,400 Suze: Well normally Lucy what happens is when you buy a home, 111 00:07:49,610 --> 00:07:53,300 Suze: you have a deed issued in just your name with 112 00:07:53,300 --> 00:07:55,320 Suze: the mortgage holder. 113 00:07:55,890 --> 00:08:01,540 Suze: As a lien against that deed. Alright so that's how 114 00:08:01,540 --> 00:08:06,290 Suze: it is when you pay it off. However the original 115 00:08:06,290 --> 00:08:08,610 Suze: deed of trust is sent to you 116 00:08:09,180 --> 00:08:12,570 Suze: and also it should have a stamp on it or 117 00:08:12,570 --> 00:08:17,130 Suze: say or where it says paid in full or canceled. 118 00:08:17,390 --> 00:08:20,400 Suze: Now this usually can take about 60 days for that 119 00:08:20,400 --> 00:08:25,990 Suze: to happen because remember your real estate property is public 120 00:08:25,990 --> 00:08:29,310 Suze: record so for them to straighten out the public record 121 00:08:29,320 --> 00:08:33,209 Suze: as to who is the proper holder usually takes about 122 00:08:33,210 --> 00:08:39,400 Suze: 60 days now along with that you should also get 123 00:08:39,429 --> 00:08:43,100 Suze: like a satisfy cation of mortgage letter 124 00:08:43,280 --> 00:08:46,180 Suze: because remember you kind of signed a promissory note that 125 00:08:46,179 --> 00:08:50,119 Suze: you would pay this back. So two things are usually 126 00:08:50,120 --> 00:08:52,069 Suze: sent to you now 127 00:08:52,670 --> 00:08:55,880 Suze: you can check to see where are you in this 128 00:08:55,880 --> 00:09:01,350 Suze: process by contacting the county registrar. Also. What you should 129 00:09:01,350 --> 00:09:05,420 Suze: do is when you purchased this home you had title 130 00:09:05,420 --> 00:09:10,900 Suze: insurance on it. The title is still good. But give 131 00:09:10,900 --> 00:09:14,040 Suze: it a few months and go and do another title 132 00:09:14,040 --> 00:09:17,480 Suze: search on your property just to make sure that it 133 00:09:17,490 --> 00:09:19,070 Suze: absolutely 134 00:09:19,390 --> 00:09:23,300 Suze: has been filed correctly and it now is just in 135 00:09:23,309 --> 00:09:25,810 Suze: your name. However 136 00:09:26,420 --> 00:09:29,450 Suze: the truth of the matter is you know how I 137 00:09:29,450 --> 00:09:35,540 Suze: feel about real estate and owning real estate in your 138 00:09:35,550 --> 00:09:39,120 Suze: own name. If you want to be smart, you should 139 00:09:39,130 --> 00:09:45,600 Suze: own real estate in the title of a living revocable trust. 140 00:09:45,610 --> 00:09:50,270 Suze: So that is what is important and you should all 141 00:09:50,295 --> 00:09:57,265 Suze: own your property, seriously everybody in the title of your trust. 142 00:09:57,275 --> 00:10:02,204 Suze: Now I've gone through this over and over again. Why 143 00:10:02,215 --> 00:10:05,444 Suze: owning a home in the title of your living revocable 144 00:10:05,445 --> 00:10:08,080 Suze: trust is 10 times better 145 00:10:08,580 --> 00:10:11,740 Suze: than owning it in your individual name. So you could 146 00:10:11,740 --> 00:10:15,760 Suze: just search past podcasts and figure that out. However. 147 00:10:15,770 --> 00:10:17,950 KT: Ding ding ding ding ding ding ding ding. 148 00:10:17,990 --> 00:10:23,030 Suze: What about time for the second big announcement? 149 00:10:23,030 --> 00:10:26,440 KT: Yes. Listen up everybody. Because this is this is one 150 00:10:26,440 --> 00:10:30,980 KT: of the reasons I wanted that particular question. Ready go 151 00:10:30,980 --> 00:10:31,850 KT: for it Suze. 152 00:10:31,860 --> 00:10:34,770 Suze: Alright. As all of you know 153 00:10:35,230 --> 00:10:37,750 Suze: really as a gift to all of you believe it 154 00:10:37,750 --> 00:10:43,780 Suze: or not, we offer you what's called the must have documents. 155 00:10:43,800 --> 00:10:48,760 Suze: The must have documents are a living revocable trust. A will, 156 00:10:48,929 --> 00:10:52,160 Suze: an advanced directive and durable power of Attorney for healthcare 157 00:10:52,170 --> 00:10:54,610 Suze: and Financial power of attorney. 158 00:10:54,809 --> 00:10:59,850 Suze: If you went to an attorney to get those five documents, 159 00:11:00,150 --> 00:11:06,910 Suze: they would cost you approximately $2500. But those documents were 160 00:11:06,910 --> 00:11:11,180 Suze: created by our trust lawyer. KT's and my trust lawyer, 161 00:11:11,190 --> 00:11:14,550 Suze: we did this about 20 years ago. 162 00:11:14,940 --> 00:11:19,869 Suze: Those documents are the exact same documents that KT and 163 00:11:19,870 --> 00:11:23,340 Suze: I both have and if they are good enough for us, 164 00:11:23,429 --> 00:11:27,920 Suze: they are good enough for you. And years ago we 165 00:11:27,920 --> 00:11:34,260 Suze: decided who can afford $2500 or more to get documents 166 00:11:34,270 --> 00:11:37,310 Suze: and how do you even know if your documents are 167 00:11:37,320 --> 00:11:41,890 Suze: any good or not. So we created the must have documents. 168 00:11:42,120 --> 00:11:44,179 Suze: If you go onto the app. 169 00:11:44,620 --> 00:11:48,800 Suze: The women and money app you will see we normally 170 00:11:48,809 --> 00:11:57,310 Suze: sell these must have documents for approximately $99. Alright everybody 171 00:11:57,320 --> 00:12:00,040 Suze: if you do it through the offer that we make 172 00:12:00,050 --> 00:12:03,829 Suze: good for all of you where you go to Suze 173 00:12:03,830 --> 00:12:09,949 Suze: Orman dot com slash offer then they're also that exact 174 00:12:09,950 --> 00:12:11,880 Suze: same price. However 175 00:12:12,670 --> 00:12:16,780 Suze: we used to offer on H. S. N. What was 176 00:12:16,780 --> 00:12:23,050 Suze: called the gold box and this gold box was essentially waterproof. 177 00:12:23,059 --> 00:12:26,900 Suze: It held 10 file folders within it, of the most 178 00:12:26,900 --> 00:12:28,929 Suze: important areas of your life. 179 00:12:29,280 --> 00:12:32,809 Suze: You were able to not only get the must have documents, 180 00:12:32,940 --> 00:12:37,380 Suze: you were also able to get the personal finance course, 181 00:12:37,770 --> 00:12:41,429 Suze: 10 e books on the most important areas of your 182 00:12:41,429 --> 00:12:46,170 Suze: life that are constantly updated. You would also get the 183 00:12:46,179 --> 00:12:51,520 Suze: insurance evaluator, you would also get the debt eliminator 184 00:12:52,090 --> 00:12:55,570 Suze: And you would also get the dues and don't cards. 185 00:12:55,650 --> 00:13:01,820 Suze: Now that has been on sale for $250. If you 186 00:13:01,820 --> 00:13:05,490 Suze: go to my website that is the only place that 187 00:13:05,490 --> 00:13:06,910 Suze: you can get that. 188 00:13:07,710 --> 00:13:13,780 Suze: For Thanksgiving, you can go to the women and money 189 00:13:13,790 --> 00:13:18,179 Suze: app and you download that app by going to Google 190 00:13:18,179 --> 00:13:22,630 Suze: play or Apple apps and when you download it go 191 00:13:22,630 --> 00:13:24,469 Suze: to the Suze shop 192 00:13:25,220 --> 00:13:27,750 Suze: and then when you go to the Suze shop just 193 00:13:27,750 --> 00:13:30,750 Suze: go down three things and you will see the gold 194 00:13:30,750 --> 00:13:37,720 Suze: box offered for 100 and $25. Now you can buy 195 00:13:37,720 --> 00:13:41,860 Suze: the must have documents if you want for $99 or 196 00:13:41,870 --> 00:13:45,230 Suze: for essentially $25 more 197 00:13:45,630 --> 00:13:51,760 Suze: You get right this incredible box. It's a fabulous case. 198 00:13:51,760 --> 00:13:55,360 Suze: It has everything you need and which is where we 199 00:13:55,360 --> 00:13:58,689 Suze: keep all of our documents as well so you can grab, 200 00:13:58,700 --> 00:14:01,610 Suze: grab and go. So if I were you there are 201 00:14:01,610 --> 00:14:06,670 Suze: only 700 of them left. Everybody I would so take 202 00:14:06,670 --> 00:14:11,460 Suze: advantage of that right now if I were you 203 00:14:11,830 --> 00:14:15,079 KT: Those are two announcements so we don't call it Black Friday. 204 00:14:15,080 --> 00:14:16,770 KT: We call it Gold Friday. 205 00:14:18,700 --> 00:14:22,160 Suze: Just start doing it now this offer by the way will 206 00:14:22,170 --> 00:14:25,840 Suze: expire and go away in a few days I think 207 00:14:25,840 --> 00:14:30,910 Suze: it's on Monday so so just Thanksgiving, Thanksgiving weekend. So 208 00:14:30,910 --> 00:14:33,670 Suze: for those of you who tune in and listen right 209 00:14:33,670 --> 00:14:37,560 Suze: away it's there for you. Alright fabulous. Get them. 210 00:14:37,570 --> 00:14:39,930 KT: All right next is from Hillary, Suze. 211 00:14:40,940 --> 00:14:44,280 KT: My husband and I are self employed. We have purchased 212 00:14:44,280 --> 00:14:47,780 KT: stocks years back that were put into a SEP IRA. 213 00:14:47,790 --> 00:14:51,660 KT: I'd like to move it into my Roth IRA. Is 214 00:14:51,660 --> 00:14:54,770 KT: that something I can do and if so is it 215 00:14:54,780 --> 00:14:57,210 KT: best to do it when the stocks are below what 216 00:14:57,210 --> 00:15:00,820 KT: we purchased them for. Thank you so much for your help. 217 00:15:00,830 --> 00:15:02,280 Suze: Should that have been your quizzie? 218 00:15:02,940 --> 00:15:04,040 KT: No. 219 00:15:04,900 --> 00:15:11,260 Suze: Alright, so my dear Hillary, whether you have a traditional IRA, 220 00:15:11,270 --> 00:15:16,490 Suze: a simple IRA or a SEP IRA, you can absolutely 221 00:15:16,490 --> 00:15:20,400 Suze: do what's called a conversion where you can convert whatever 222 00:15:20,400 --> 00:15:21,610 Suze: is in your SEP IRA 223 00:15:22,840 --> 00:15:26,930 Suze: into a Roth IRA and you can absolutely do the 224 00:15:26,930 --> 00:15:30,380 Suze: conversion with like two like meaning if you have certain 225 00:15:30,380 --> 00:15:34,440 Suze: stocks in your SEP IRA, you can convert the stocks 226 00:15:34,440 --> 00:15:39,690 Suze: to your Roth IRA just remember anything that you convert, 227 00:15:39,700 --> 00:15:44,090 Suze: you will owe ordinary income taxes on for the year 228 00:15:44,090 --> 00:15:45,040 Suze: that you convert 229 00:15:45,195 --> 00:15:50,535 Suze: obviously the lower the price of your stocks when you 230 00:15:50,535 --> 00:15:54,555 Suze: convert them, the less income tax you're going to pay 231 00:15:54,565 --> 00:15:58,085 Suze: on that conversion. So you bet it's better to do 232 00:15:58,085 --> 00:16:01,655 Suze: it when the stocks are below the value that you 233 00:16:01,655 --> 00:16:06,095 Suze: purchase them for. Okay, KT, we're rocking and rolling, go 234 00:16:06,095 --> 00:16:07,465 Suze: on girlfriend. 235 00:16:07,485 --> 00:16:10,760 KT: This is from Sheila. Next questions from Sheila Suze, 236 00:16:10,940 --> 00:16:14,650 KT: Dear Suze, can my husband roll over his lump sum 237 00:16:14,650 --> 00:16:21,770 KT: pension of $18,000 into a Roth IRA to avoid tax? 238 00:16:22,330 --> 00:16:27,140 Suze: No. Also you don't roll over a pension do you? 239 00:16:27,150 --> 00:16:29,600 Suze: You don't roll it over? Well, the truth of the 240 00:16:29,600 --> 00:16:35,100 Suze: matter is no pensions come into formats, you have a 241 00:16:35,100 --> 00:16:37,340 Suze: pension and they give you a monthly pension 242 00:16:37,570 --> 00:16:40,660 Suze: income for the rest of your life from the corporation 243 00:16:40,670 --> 00:16:44,100 Suze: or you can take whatever that lump sum would have 244 00:16:44,100 --> 00:16:48,100 Suze: been and then you can do what's called an ira 245 00:16:48,110 --> 00:16:51,830 Suze: rollover with it because you never pay taxes on that money. 246 00:16:51,840 --> 00:16:54,990 Suze: So it goes from the pension from the corporation in 247 00:16:54,990 --> 00:16:55,980 Suze: a lump sum. 248 00:16:56,480 --> 00:16:59,250 Suze: If you do a custodian to custodian transfer, which is 249 00:16:59,250 --> 00:17:04,350 Suze: the only way you should do it directly into your IRA. Rollover. 250 00:17:04,359 --> 00:17:07,480 Suze: If you do it that way, you don't pay taxes 251 00:17:07,480 --> 00:17:10,380 Suze: on it. And as you withdraw the money, little by 252 00:17:10,380 --> 00:17:11,899 Suze: little if you want to, 253 00:17:12,609 --> 00:17:16,280 Suze: that's when you pay ordinary income tax on it. Sheila, 254 00:17:16,290 --> 00:17:21,590 Suze: if you roll it directly into a Roth IRA, you 255 00:17:21,590 --> 00:17:28,140 Suze: are going to owe ordinary income tax on all $18,000 256 00:17:28,150 --> 00:17:32,889 Suze: of that pension from that point on. However, it's now 257 00:17:32,900 --> 00:17:36,639 Suze: in a Roth IRA. And guess what? Now? You don't 258 00:17:36,650 --> 00:17:39,300 Suze: owe any more income tax on it From that point on. 259 00:17:39,310 --> 00:17:44,270 Suze: However, the $18,000 may put you in a higher income 260 00:17:44,270 --> 00:17:48,060 Suze: tax bracket. So I wouldn't do that. And depending on 261 00:17:48,060 --> 00:17:50,870 Suze: your tax bracket, you might want to do 9000 this 262 00:17:50,869 --> 00:17:54,560 Suze: year and 9000 next. Or just do little amounts of 263 00:17:54,560 --> 00:17:58,710 Suze: money over the next few years. Alright, yes, Ms Travis 264 00:17:59,780 --> 00:18:00,630 Suze: rock and roll. 265 00:18:00,640 --> 00:18:02,830 Suze: And you know why she's rocking and rolling through all these? 266 00:18:03,390 --> 00:18:08,510 Suze: She's not so chatty. She wants to go back to her family. 267 00:18:08,520 --> 00:18:13,440 KT: All right, the next question, Suze is from Janna. Dear 268 00:18:13,440 --> 00:18:18,270 KT: Suze and KT, with the Social Security COLA cost of 269 00:18:18,270 --> 00:18:24,440 KT: living adjustment at 8.3%. If we wait till 70 to 270 00:18:24,440 --> 00:18:26,190 KT: take Social Security 271 00:18:26,460 --> 00:18:29,750 KT: At 70, will we also get that COLA? 272 00:18:29,760 --> 00:18:34,379 Suze: Yes, so let's just a living adjustment. So here's what 273 00:18:34,390 --> 00:18:38,310 Suze: all of you need to understand whether you're currently collecting 274 00:18:38,310 --> 00:18:40,580 Suze: social security or not. 275 00:18:40,810 --> 00:18:46,770 Suze: All of your calculations are already calculated with all the 276 00:18:46,770 --> 00:18:50,439 Suze: cost of living adjustments. So yes, you will get both. 277 00:18:50,440 --> 00:18:54,510 Suze: The cost of living adjustment added on plus the increase 278 00:18:54,520 --> 00:18:57,900 Suze: until you are 70 to take social security. 279 00:18:59,720 --> 00:19:02,060 KT: Alright, Alright, ready? Dear Suze and KT, thank you for all the great 280 00:19:02,060 --> 00:19:05,609 KT: advice you give, please help me. In 2008... 281 00:19:05,619 --> 00:19:07,389 Suze: Is that why you picked it? When they say please 282 00:19:07,390 --> 00:19:08,290 Suze: help me help me? 283 00:19:08,290 --> 00:19:11,189 KT: Yeah, this this one needs some help... 284 00:19:11,190 --> 00:19:17,310 Suze: I tell you so I'll never forget when in my 285 00:19:17,310 --> 00:19:21,380 Suze: new york apartment I had a little answering machine right? 286 00:19:21,390 --> 00:19:23,379 Suze: And all of a sudden I thought I'd be funny 287 00:19:23,390 --> 00:19:26,520 Suze: and I recorded it rather than: "This is Suze, Please 288 00:19:26,520 --> 00:19:27,669 Suze: leave a message..." 289 00:19:27,880 --> 00:19:31,850 Suze: I recorded, "Help me help me. I'm trapped in this 290 00:19:31,850 --> 00:19:36,230 Suze: little machine and I can't get out. Please call as 291 00:19:36,230 --> 00:19:39,419 Suze: many people as you can and just help me get out." 292 00:19:39,430 --> 00:19:43,619 Suze: And this was before I was "Suze Orman" Suze Orman, 293 00:19:44,190 --> 00:19:47,310 Suze: if that even made sense and I never forget, I 294 00:19:47,310 --> 00:19:51,760 Suze: came back and you know, to check all the messages... 295 00:19:52,460 --> 00:19:57,050 Suze: totally full and people just were telling people to call 296 00:19:57,050 --> 00:20:00,140 Suze: one another and people I didn't even know were calling 297 00:20:00,140 --> 00:20:03,230 Suze: just to listen to that message and I finally had 298 00:20:03,230 --> 00:20:06,619 Suze: to take it off because the phone never stopped ringing. Anyway, 299 00:20:06,619 --> 00:20:07,810 Suze: go on. 300 00:20:07,820 --> 00:20:15,500 KT: That's like something going viral on Tiktok vintage, 30 years, 301 00:20:15,960 --> 00:20:18,409 KT: 40 years out of that. And I went actually like 302 00:20:18,410 --> 00:20:21,609 KT: 50 years ago. All right. This is from Greg. 303 00:20:21,869 --> 00:20:26,100 KT: It said please help me. In 2008, I was advised 304 00:20:26,100 --> 00:20:30,850 KT: by my financial advisor to put $15,000 within my Roth 305 00:20:30,850 --> 00:20:36,570 KT: IRA into a non traded R. E. I. T. That R. E. I. T. 306 00:20:36,570 --> 00:20:39,240 KT: People for those that don't know as a real estate 307 00:20:39,240 --> 00:20:44,350 KT: investment trust. At the time I was a conservative investor 308 00:20:44,359 --> 00:20:47,689 KT: and wanted to limit my risk and keep my savings 309 00:20:47,690 --> 00:20:49,770 KT: secure for retirement. 310 00:20:50,030 --> 00:20:53,250 KT: So this is why I wanted to read this to everyone. 311 00:20:53,260 --> 00:20:56,609 KT: So Greg wanted to do this and did it under 312 00:20:56,609 --> 00:21:04,149 KT: the guise. He'd have something for retirement. But listen up, wait, wait, Suze, 313 00:21:04,150 --> 00:21:06,880 KT: hold on. Listen to the end of the story. I'm 314 00:21:06,880 --> 00:21:10,440 KT: being told by my R. E I. T. Company that 315 00:21:10,440 --> 00:21:14,030 KT: they're only doing redemptions upon death. 316 00:21:14,210 --> 00:21:18,000 KT: How can this be legal? Why would my advisor have 317 00:21:18,000 --> 00:21:21,560 KT: made such a recommendation when they knew I was looking 318 00:21:21,560 --> 00:21:26,640 KT: for retirement security, Suze. Is there anything I can do 319 00:21:26,640 --> 00:21:30,550 KT: or is this money really lost Greg? 320 00:21:31,470 --> 00:21:34,520 KT: So that's why I wanted to read this. Um I 321 00:21:34,520 --> 00:21:35,550 KT: think it's sad. 322 00:21:39,180 --> 00:21:45,080 Suze: Yeah, here's the problem. A real estate investment trust one that is traded. You 323 00:21:45,080 --> 00:21:49,390 Suze: could buy and sell anytime you want on the stock market. 324 00:21:49,400 --> 00:21:52,609 Suze: And KT, a real estate investment trust is where a 325 00:21:52,609 --> 00:21:55,780 Suze: company goes out, they buy all kinds of real estate 326 00:21:55,790 --> 00:21:58,060 Suze: or the same kind of real estate they put it 327 00:21:58,070 --> 00:22:01,629 Suze: in trust and you buy shares in that trust. You 328 00:22:01,630 --> 00:22:05,040 Suze: also get income usually from it but you can buy 329 00:22:05,040 --> 00:22:07,620 Suze: and sell it to trades as like a stock on 330 00:22:07,619 --> 00:22:08,639 Suze: the stock market. 331 00:22:08,980 --> 00:22:16,590 Suze: A non traded R. E. I. T. Does not work 332 00:22:16,600 --> 00:22:23,000 Suze: the same way. His advisor screwed him to tell you 333 00:22:23,000 --> 00:22:25,840 Suze: the truth. Well that's not nice but but but but 334 00:22:25,840 --> 00:22:29,419 Suze: let me tell you why I say that right? And 335 00:22:29,420 --> 00:22:33,890 Suze: I say that because when you see the words non 336 00:22:33,890 --> 00:22:38,119 Suze: traded that means this R. E. I. T. Does not 337 00:22:38,119 --> 00:22:38,919 Suze: trade 338 00:22:39,320 --> 00:22:43,990 Suze: and it's up to the discretion of the company as 339 00:22:43,990 --> 00:22:47,800 Suze: to do you get any money back. They normally after 340 00:22:47,800 --> 00:22:51,750 Suze: all the shares are sold, they close it and they 341 00:22:51,750 --> 00:22:58,420 Suze: suspend the redemption policy which means you cannot redeem this 342 00:22:58,430 --> 00:23:02,320 Suze: unless they give you permission to do so. And this 343 00:23:02,320 --> 00:23:08,600 Suze: particular company obviously is only allowing redemptions on the death 344 00:23:08,609 --> 00:23:13,320 Suze: of Greg. Now how sad is that? He wanted the 345 00:23:13,320 --> 00:23:15,980 Suze: money for retirement and he put it in what 15 346 00:23:15,980 --> 00:23:21,199 Suze: years ago. Now normally what happens is a good R. E. I. T. 347 00:23:21,210 --> 00:23:24,440 Suze: Will spin off income to all of you and put 348 00:23:24,440 --> 00:23:28,020 Suze: that into your account. The bad ones which this one 349 00:23:28,030 --> 00:23:33,420 Suze: obviously seems like it is usually doesn't spin off anything 350 00:23:33,420 --> 00:23:36,179 Suze: and they keep all the money for themselves 351 00:23:36,500 --> 00:23:38,820 Suze: and that's usually what happened. 352 00:23:38,820 --> 00:23:40,220 KT: So what can he do? 353 00:23:40,460 --> 00:23:44,689 Suze: So he can complain all he wants, he could complain 354 00:23:44,690 --> 00:23:47,780 Suze: to the company that he purchased it from. 355 00:23:48,320 --> 00:23:53,679 Suze: Right but they're just going to say hey sorry sorry 356 00:23:53,680 --> 00:23:56,550 Suze: this is how it works. He can try to sell 357 00:23:56,550 --> 00:24:00,700 Suze: it on the secondary market but if he put $15,000 358 00:24:00,700 --> 00:24:05,740 Suze: in somebody might buy it for like $50 1000 dollars, 359 00:24:05,750 --> 00:24:10,190 Suze: he'll lose his shirt on it. So the biggest blessing 360 00:24:10,190 --> 00:24:14,050 Suze: in this is that it's in his Roth IRA because 361 00:24:14,050 --> 00:24:15,430 Suze: imagine this one 362 00:24:15,790 --> 00:24:20,630 Suze: if it was in his traditional IRA, he now turns 363 00:24:20,640 --> 00:24:27,660 Suze: 72 that $15,000 or whatever it's worth is included in 364 00:24:27,670 --> 00:24:32,130 Suze: how much he has in his retirement accounts. So required 365 00:24:32,130 --> 00:24:36,730 Suze: minimum distributions would be based on that amount as well. 366 00:24:37,400 --> 00:24:41,060 Suze: So he would be having to take out more from 367 00:24:41,070 --> 00:24:44,489 Suze: all of his money even though he doesn't have access 368 00:24:44,490 --> 00:24:48,170 Suze: to that 15,000. He's lucky. Which is why I like 369 00:24:48,170 --> 00:24:52,330 Suze: Roth IRAs everybody he's lucky because this is in a 370 00:24:52,330 --> 00:24:57,160 Suze: Roth IRA where required minimum distributions are not required. 371 00:24:58,460 --> 00:25:01,620 KT: I'm gonna ask a silly question. So is that if 372 00:25:01,619 --> 00:25:03,420 KT: he has a trust 373 00:25:04,109 --> 00:25:07,820 KT: would help him on any level at this point. So 374 00:25:07,820 --> 00:25:11,260 KT: the only people that will benefit whoever he leaves his 375 00:25:11,270 --> 00:25:12,540 KT: money to money too. 376 00:25:12,550 --> 00:25:16,360 Suze: That's right. His beneficiaries. Beneficiaries and obviously you have some 377 00:25:16,359 --> 00:25:19,220 Suze: children that you know you can leave it if it's 378 00:25:19,220 --> 00:25:20,820 Suze: worth anything. So 379 00:25:20,830 --> 00:25:25,080 Suze: one has to see this is why it's important. Everybody 380 00:25:25,660 --> 00:25:29,940 Suze: that you ask questions this so Greg I'm sorry that 381 00:25:29,940 --> 00:25:33,800 Suze: this happened to you. I seriously am. And I'll write 382 00:25:33,800 --> 00:25:37,540 Suze: to you personally about this just so you know however 383 00:25:38,340 --> 00:25:42,710 Suze: what happened to you may now have helped thousands of 384 00:25:42,710 --> 00:25:48,060 Suze: people never get into that situation. So what to do? 385 00:25:48,060 --> 00:25:51,010 Suze: I'm so so sorry. Alright. Yes. KT. 386 00:25:51,020 --> 00:25:56,260 KT: Okay Suze. Next question's from Jackie. Suze, I have an H. S. A. 387 00:25:56,270 --> 00:25:59,530 KT: And I have the opportunity to invest some of the funds. 388 00:25:59,700 --> 00:26:02,950 KT: My husband and I are on my health insurance. The 389 00:26:02,950 --> 00:26:06,500 KT: current balance is $2600. 390 00:26:06,859 --> 00:26:10,820 KT: Do you recommend investing some of these funds? Why or 391 00:26:10,820 --> 00:26:11,730 KT: why not? 392 00:26:11,910 --> 00:26:15,359 Suze: Okay KT. You picked a difficult one for your last 393 00:26:15,359 --> 00:26:16,770 Suze: question before your quizzie. 394 00:26:17,869 --> 00:26:20,570 Suze: So everybody and I'm going to have to do a 395 00:26:20,570 --> 00:26:26,510 Suze: Suze School on this one. For great detail. But in H. S. A. 396 00:26:27,060 --> 00:26:32,109 Suze: As a health savings account and a health savings account 397 00:26:32,119 --> 00:26:37,310 Suze: is attached to what's called an H. D. H. P. 398 00:26:37,320 --> 00:26:41,820 Suze: Which is a high deductible health plan. 399 00:26:42,410 --> 00:26:47,389 Suze: And many people are going into high deductible health plans 400 00:26:47,400 --> 00:26:54,139 Suze: that are attached to health savings accounts because truthfully on H. S. A. 401 00:26:54,140 --> 00:26:59,370 Suze: With an H. D. H. P. have lower premiums than 402 00:26:59,369 --> 00:27:04,930 Suze: a regular health insurance account. But because they have lower premiums, KT, 403 00:27:04,940 --> 00:27:11,510 Suze: they also have higher deductibles on them. Now they're complicated. 404 00:27:11,680 --> 00:27:15,919 Suze: So Jackie what I would tell you is this: 405 00:27:16,609 --> 00:27:22,129 Suze: Usually because they're higher deductibles. That means that between you 406 00:27:22,130 --> 00:27:26,570 Suze: and your husband the minimum of a deduction right now 407 00:27:26,570 --> 00:27:29,690 Suze: if anything goes wrong where you have to pay for 408 00:27:29,690 --> 00:27:36,409 Suze: it out of pocket is $2,800 for a family. $1400 409 00:27:36,420 --> 00:27:40,840 Suze: for an individual. That's the minimum. It could be higher 410 00:27:40,890 --> 00:27:42,700 Suze: depending on your plan 411 00:27:43,010 --> 00:27:48,810 Suze: because your current balance is only $2600. No you should 412 00:27:48,810 --> 00:27:51,820 Suze: not be investing that money at this point in time 413 00:27:51,830 --> 00:27:56,899 Suze: because you need at least $2800 in there to meet 414 00:27:56,910 --> 00:28:01,389 Suze: the family deductible. And you don't have it. If you 415 00:28:01,390 --> 00:28:07,359 Suze: told me that you had 5000 or $10,000 in there 416 00:28:07,420 --> 00:28:08,860 Suze: then I would say yeah 417 00:28:09,280 --> 00:28:14,360 Suze: you could invest some of it but not 2800. Now 418 00:28:14,369 --> 00:28:17,970 Suze: if you want to get what's in there up you 419 00:28:17,970 --> 00:28:24,270 Suze: are also allowed to do a one time I. R. A. Transfer. 420 00:28:24,280 --> 00:28:29,380 Suze: So let's just say that you have you know $7000 421 00:28:29,390 --> 00:28:34,430 Suze: in an I. R. A. You could transfer that $7000 422 00:28:34,440 --> 00:28:38,140 Suze: into your health savings account next year 423 00:28:38,670 --> 00:28:43,600 Suze: because the maximum contribution that a family can put in 424 00:28:43,610 --> 00:28:48,880 Suze: is 7300 year right now. Or 36 50. As an individual. 425 00:28:48,930 --> 00:28:52,870 Suze: That then would allow you to have a whole lot 426 00:28:52,870 --> 00:28:55,700 Suze: more money in there without you having to come up 427 00:28:55,700 --> 00:28:58,520 Suze: with it out of your pocket. And then you could 428 00:28:58,520 --> 00:29:03,770 Suze: look at investing some within the H. S. A. But everybody. 429 00:29:03,770 --> 00:29:07,240 KT: Oh we need to do a Suze School on that one. 430 00:29:08,940 --> 00:29:18,350 Suze: Alright, KT, it's Thanksgiving. Thanksgiving quizzie. Right, and I picked this 431 00:29:18,350 --> 00:29:18,770 Suze: quizzie 432 00:29:19,710 --> 00:29:23,850 Suze: because it comes from somebody by the name of Tommy Givens. 433 00:29:24,300 --> 00:29:26,740 Suze: So why do you think I picked it? 434 00:29:27,120 --> 00:29:29,030 KT: Thanksgiving's Tommy Gibbons. 435 00:29:29,030 --> 00:29:34,170 KT: Thanksgiving's right. T. G. Thanksgiving. That's how I picked this quizze. 436 00:29:34,460 --> 00:29:37,350 KT: All right. What do you think about that? The poet here? 437 00:29:37,400 --> 00:29:41,990 KT: Tommy Gibbons. Thanksgivings. Don't you love that? I thought I 438 00:29:41,990 --> 00:29:45,390 KT: thought everybody that was so brilliant on my part. It's 439 00:29:45,390 --> 00:29:46,610 KT: not even funny. Okay. 440 00:29:46,610 --> 00:29:47,570 KT: What do you got for me? 441 00:29:47,680 --> 00:29:51,970 Suze: So what Tommy wants to know is, Hi Suze. I'm new 442 00:29:51,970 --> 00:29:53,220 Suze: to your app. 443 00:29:53,990 --> 00:29:56,850 Suze: I just want to say one other thing about the app. 444 00:29:56,860 --> 00:30:00,680 Suze: Now I know a lot of you right? Maybe you've 445 00:30:00,680 --> 00:30:04,000 Suze: downloaded the Women and Money app. Maybe you haven't. But 446 00:30:04,000 --> 00:30:07,700 Suze: here's what's starting to happen on the app that you 447 00:30:07,700 --> 00:30:10,660 Suze: best download it if you want to keep up with 448 00:30:10,660 --> 00:30:16,220 Suze: me on certain things. For instance last week oil started 449 00:30:16,220 --> 00:30:21,470 Suze: to go down which meant many of your energy stocks 450 00:30:21,470 --> 00:30:23,260 Suze: started to go down 451 00:30:23,540 --> 00:30:28,000 Suze: on the app. On the wall. On the Women and 452 00:30:28,000 --> 00:30:32,430 Suze: Money app I posted about what I thought about oil. 453 00:30:32,490 --> 00:30:34,930 Suze: Should you keep it? What should you do about it? 454 00:30:34,930 --> 00:30:38,000 Suze: And when if ever I expected it to recover. 455 00:30:38,740 --> 00:30:41,730 Suze: So if you want to be kept up on things 456 00:30:41,730 --> 00:30:45,130 Suze: that happen in the market between the time I do 457 00:30:45,130 --> 00:30:48,729 Suze: one podcast and another podcast, the best way for you 458 00:30:48,730 --> 00:30:52,040 Suze: to do it is to have the Women and Money 459 00:30:52,050 --> 00:30:53,440 Suze: app and sign up for. 460 00:30:54,280 --> 00:30:57,430 Suze: So that when I post something, you see it because 461 00:30:57,430 --> 00:31:00,880 Suze: I'm going to start posting more and more, they're about 462 00:31:00,880 --> 00:31:06,340 Suze: market activity and things like that. All right, everybody, that's 463 00:31:06,340 --> 00:31:10,420 Suze: what we're doing. This is from Tommy everybody. Hi, Suze. 464 00:31:10,430 --> 00:31:13,210 Suze: I'm new to your app. That's what started me on 465 00:31:13,210 --> 00:31:16,070 Suze: that tirade right there. Just so you know, I have 466 00:31:16,070 --> 00:31:19,250 Suze: a hypothetical question for you and KT. 467 00:31:22,010 --> 00:31:26,300 Suze: Now remember this quizzie question isn't just for KT, it's also for 468 00:31:26,310 --> 00:31:30,090 Suze: all of you. So KT, wait before you answer. 469 00:31:30,090 --> 00:31:32,540 KT: I promise I'll give you all a chance. 470 00:31:35,660 --> 00:31:43,020 Suze: Which is a better investment, a six month bill at 4.57%. A one year bill 471 00:31:43,030 --> 00:31:52,080 Suze: at 4.68% or a two year note at 4.43%? So 472 00:31:52,080 --> 00:31:56,400 Suze: which one is a better investment? And why? 473 00:31:56,490 --> 00:31:58,270 KT: What was the middle one? 474 00:32:01,830 --> 00:32:09,590 Suze: So it's 4.57 for six months, 4, 6 months, 4.68 for one year 475 00:32:09,600 --> 00:32:14,220 Suze: or two year note for 4.43. 476 00:32:15,600 --> 00:32:19,420 KT: Okay, can I go, is everyone ready out there? I'm 477 00:32:19,420 --> 00:32:21,900 KT: gonna go for the highest 11 year. 478 00:32:22,710 --> 00:32:25,200 Suze: So if this was your money, you would go for 479 00:32:25,200 --> 00:32:29,570 Suze: a one year at 4.68%. Is that correct? (KT:Yes). 480 00:32:31,040 --> 00:32:32,160 Suze: Final answer. (KT says "yes" again. Suze makes the wrong answer sound). 481 00:32:33,800 --> 00:32:34,850 KT: Why not? 482 00:32:34,860 --> 00:32:39,160 Suze: Alright, let me tell you why not. First of all, 483 00:32:39,170 --> 00:32:45,000 Suze: when investing in interest rates, environments like this, when we 484 00:32:45,000 --> 00:32:49,110 Suze: do not know for sure everybody are interest rates going 485 00:32:49,110 --> 00:32:51,940 Suze: to be higher one year from now. Are they going 486 00:32:51,940 --> 00:32:55,970 Suze: to be lower one year from now? That is why 487 00:32:55,970 --> 00:32:59,420 Suze: you do a Treasury ladder 488 00:32:59,770 --> 00:33:03,940 Suze: In this particular case. six months. What you would be 489 00:33:03,940 --> 00:33:07,770 Suze: investing in would be a little bit in the six month, 490 00:33:07,780 --> 00:33:11,250 Suze: a little bit in the one year and a little 491 00:33:11,250 --> 00:33:12,610 Suze: bit in the two year. 492 00:33:12,620 --> 00:33:17,170 KT: Wait, give me that choice. But hold on, everybody didn't 493 00:33:17,170 --> 00:33:18,120 KT: she say, 494 00:33:18,520 --> 00:33:21,570 KT: would you choose a six month, a one year or 495 00:33:21,570 --> 00:33:24,430 KT: a two year? That was the question. And I went 496 00:33:24,430 --> 00:33:27,680 KT: for the highest rate. But if you said, what would 497 00:33:27,680 --> 00:33:31,020 KT: you do, KT, I would have said, you know, Suze, 498 00:33:31,030 --> 00:33:32,820 KT: I'd do a little bit of each 499 00:33:33,460 --> 00:33:34,270 KT: I'd do a ladder. 500 00:33:37,000 --> 00:33:42,220 Suze: It's not nice to lie on Thanksgiving. It's not nice. Alright. 501 00:33:42,220 --> 00:33:45,680 KT: So Alright, everybody that was a trick question. 502 00:33:45,680 --> 00:33:47,970 Suze: It wasn't a trick question. But here's the thing you 503 00:33:47,970 --> 00:33:51,130 Suze: need to understand, which is why that's important to understand. 504 00:33:51,170 --> 00:33:54,370 Suze: It's going to go down. You don't always go for 505 00:33:54,370 --> 00:33:58,760 Suze: the highest rate. If you think interest rates are going 506 00:33:58,760 --> 00:34:00,210 Suze: to continue up, 507 00:34:00,770 --> 00:34:03,610 Suze: just let's say you did, then you would be better 508 00:34:03,610 --> 00:34:07,860 Suze: off truthfully buying a six month one over a one 509 00:34:07,870 --> 00:34:14,030 Suze: year one because really for 10.11 11% difference, which is 510 00:34:14,030 --> 00:34:18,800 Suze: nothing maybe you would be better off because in six 511 00:34:18,800 --> 00:34:22,739 Suze: months when that money matures the one year might be 512 00:34:22,739 --> 00:34:24,290 Suze: at 4.7 513 00:34:26,190 --> 00:34:28,900 Suze: as I've said to everybody, I think it will continue 514 00:34:28,900 --> 00:34:33,020 Suze: down here, which is absolutely doing. And then I think 515 00:34:33,020 --> 00:34:37,169 Suze: it will turn around and go back up higher than now. 516 00:34:37,180 --> 00:34:42,480 Suze: Higher than now you bet. So six months ago. Well, 517 00:34:42,489 --> 00:34:47,250 Suze: truthfully again, I wouldn't put it all in one. I 518 00:34:47,250 --> 00:34:47,669 Suze: would do 519 00:34:47,690 --> 00:34:52,430 Suze: a combination of them all a ladder. I really would. 520 00:34:52,440 --> 00:34:55,740 KT: Um you need to do a Suze School on ladders. 521 00:34:56,190 --> 00:34:56,969 Suze: I've done it. 522 00:34:56,989 --> 00:35:00,049 KT: But do it again to remind everyone maybe in January. 523 00:35:00,140 --> 00:35:04,390 Suze: Katie, what happens in a podcast? Is that once I've 524 00:35:04,390 --> 00:35:07,180 Suze: done a topic they can then on the Women and 525 00:35:07,180 --> 00:35:11,530 Suze: Money app go to where it says search content 526 00:35:12,010 --> 00:35:16,170 Suze: on the app and go and listen to those podcasts again. 527 00:35:16,180 --> 00:35:21,460 Suze: Otherwise I would be doing the same podcast over and 528 00:35:21,469 --> 00:35:24,920 Suze: over and over again. Alright. 529 00:35:24,920 --> 00:35:27,299 KT: I have to go base that turkey. Right. 530 00:35:27,310 --> 00:35:30,180 Suze: Guess what? This year? Guess what? I'm not doing 531 00:35:31,070 --> 00:35:35,820 KT: Well, you didn't do it. Everybody is participating. All the sisters. 532 00:35:35,820 --> 00:35:40,530 KT: There's a lot of family members here and everybody wants 533 00:35:40,530 --> 00:35:43,150 KT: to give Suze a break and they want to cook 534 00:35:43,150 --> 00:35:45,930 KT: the dinner. She always cooks the dinner. But this is 535 00:35:45,930 --> 00:35:47,750 KT: 16 people, 536 00:35:47,930 --> 00:35:53,750 KT: two turkeys, but this year she wants a break. I'm 537 00:35:53,750 --> 00:35:58,440 KT: like all right, everybody, you guys cook the turkey. 538 00:35:58,450 --> 00:36:01,669 Suze: Alright, so until next time, what do you want to tell everybody? 539 00:36:03,660 --> 00:36:07,090 KT: Thank you all so much for listening and for being 540 00:36:07,090 --> 00:36:11,469 KT: part of the Suze Orman Women and Money podcast. We 541 00:36:11,469 --> 00:36:14,600 KT: love doing this. We hope we have helped you and 542 00:36:14,600 --> 00:36:18,040 KT: we wish you and your families are blessed and very 543 00:36:18,050 --> 00:36:21,739 KT: very Happy Thanksgiving Holiday. 544 00:36:22,100 --> 00:36:22,719 Suze: So... there's one thing... 545 00:36:22,980 --> 00:36:26,610 Robert: Actually wait. There's one more thing Suze and KT. Hi everybody. Its Robert, 546 00:36:26,620 --> 00:36:29,180 Robert: the producer for the podcast here and I'm breaking in 547 00:36:29,180 --> 00:36:34,620 Robert: with Thanksgiving Producer's Prerogative. Suze and KT's niece and nephew, 548 00:36:34,620 --> 00:36:38,770 Robert: Sophia and Travis are on their way right now to 549 00:36:38,770 --> 00:36:42,149 Robert: spend Thanksgiving with the whole family, with Suze and KT. 550 00:36:42,340 --> 00:36:45,310 Robert: And while they were on the plane they recorded a 551 00:36:45,310 --> 00:36:48,000 Robert: little bonus Q. & A. And they just sent it 552 00:36:48,000 --> 00:36:50,350 Robert: to me and asked if I would squeeze it in 553 00:36:50,350 --> 00:36:54,339 Robert: at the end of the podcast. So Sophia and Travis 554 00:36:54,340 --> 00:36:55,259 Robert: take it away. 555 00:36:55,530 --> 00:37:00,050 Sophia: Hi Aunt Suze it's Sophia and Travis here and we 556 00:37:00,050 --> 00:37:02,969 Sophia: wanted to wish you a Happy Thanksgiving. We're so excited 557 00:37:02,969 --> 00:37:04,480 Sophia: to celebrate with you this year. 558 00:37:04,680 --> 00:37:09,260 Sophia: Um We have the best memories celebrating Thanksgiving and so 559 00:37:09,260 --> 00:37:11,420 Sophia: many holidays with you and Aunt Kathy. And so we 560 00:37:11,420 --> 00:37:14,140 Sophia: wanted to take the time to talk a little bit 561 00:37:14,140 --> 00:37:17,200 Sophia: about our favorite memories and what it's like to spend 562 00:37:17,200 --> 00:37:20,359 Sophia: the holidays with you. Okay Trav what do you think 563 00:37:20,360 --> 00:37:21,460 Sophia: about when you 564 00:37:21,580 --> 00:37:23,460 Sophia: think of having thanksgiving with Aunt Suze? 565 00:37:23,469 --> 00:37:27,510 Travis: If I know I'm going see and Suze for Thanksgiving 566 00:37:27,520 --> 00:37:32,460 Travis: the week before I very carefully go through all my 567 00:37:32,460 --> 00:37:35,840 Travis: personal financial statements. So I know how much I've been 568 00:37:35,840 --> 00:37:39,830 Travis: saving and what's in my checking account and I've become 569 00:37:39,830 --> 00:37:44,279 Travis: prepared for the annual Aunt Suze audit. And so what 570 00:37:44,280 --> 00:37:45,850 Travis: do you think about at this time of year with regards to Aunt Suze? 571 00:37:48,580 --> 00:37:53,250 Sophia: There's definitely always lots of life lessons and money lessons 572 00:37:53,250 --> 00:37:55,640 Sophia: every year. But I feel like when I think of 573 00:37:55,650 --> 00:37:58,950 Sophia: Thanksgiving and spending it with Aunt Suze, I think a 574 00:37:58,950 --> 00:38:03,319 Sophia: lot about the family aspect and Aunt Suze definitely goes 575 00:38:03,320 --> 00:38:05,489 Sophia: through great lengths to get our family together every year 576 00:38:05,489 --> 00:38:08,510 Sophia: and reminds us of the importance of spending time together. 577 00:38:08,510 --> 00:38:12,290 Sophia: And I think one example that shows 578 00:38:12,520 --> 00:38:15,920 Sophia: um this is when we actually weren't together and it 579 00:38:15,920 --> 00:38:18,870 Sophia: was one year when we couldn't make it to Thanksgiving 580 00:38:18,880 --> 00:38:22,570 Sophia: and on Thanksgiving we received a selfie of our entire 581 00:38:22,570 --> 00:38:27,640 Sophia: family with life size cutouts of our families heads and 582 00:38:27,640 --> 00:38:28,319 Sophia: table set 583 00:38:28,330 --> 00:38:33,460 Sophia: place for us. And it just showed how thoughtful and 584 00:38:33,460 --> 00:38:37,000 Sophia: Suze and Kathy are and how important family is and 585 00:38:37,000 --> 00:38:39,390 Sophia: even we couldn't be there. They thought about us and 586 00:38:39,390 --> 00:38:41,170 Sophia: they wanted to make sure that we felt included in 587 00:38:41,170 --> 00:38:44,150 Sophia: special and I think that those those things are 588 00:38:44,670 --> 00:38:45,959 Sophia: really important. 589 00:38:46,650 --> 00:38:50,279 Sophia: Trav, can you think of any maybe non money related 590 00:38:50,280 --> 00:38:52,759 Sophia: just general life lessons that you feel like you've learned 591 00:38:52,760 --> 00:38:53,450 Sophia: from Aunt Suze? 592 00:38:53,460 --> 00:38:59,450 Travis: She really pushed me to think hard about anything you're 593 00:38:59,450 --> 00:39:03,290 Travis: dealing with at a really young age and she wasn't 594 00:39:03,300 --> 00:39:06,620 Travis: prescriptive with her advice and instead really would ask a 595 00:39:06,620 --> 00:39:09,590 Travis: lot of questions and really make you sort of chew 596 00:39:09,590 --> 00:39:11,060 Travis: on a topic. Um 597 00:39:11,580 --> 00:39:13,700 Travis: and I think that this often 598 00:39:14,440 --> 00:39:17,520 Travis: isn't done with little kids and you know, she would 599 00:39:17,520 --> 00:39:20,339 Travis: really let me squirm and think about things and it 600 00:39:20,340 --> 00:39:23,620 Travis: was it was honestly like a painful process at that age, 601 00:39:23,620 --> 00:39:26,250 Travis: but I think what it taught me was like, you know, 602 00:39:26,260 --> 00:39:29,340 Travis: really how to stick with a tough idea and think 603 00:39:29,340 --> 00:39:32,950 Travis: it through. Um and you know, to just be super 604 00:39:32,950 --> 00:39:37,080 Travis: thorough with with your thought process um and be confident 605 00:39:37,080 --> 00:39:41,880 Travis: in your responses. What are some non money related lessons 606 00:39:41,880 --> 00:39:42,580 Travis: you've learned? 607 00:39:43,420 --> 00:39:47,440 Sophia: I think just in general to be confident in yourself 608 00:39:47,450 --> 00:39:51,350 Sophia: and know that you're deserving of things and if you 609 00:39:51,350 --> 00:39:56,100 Sophia: work hard then and manifest positivity and manifest good things 610 00:39:56,100 --> 00:39:58,730 Sophia: that they'll come to you and I can think about 611 00:39:58,730 --> 00:40:01,380 Sophia: this my junior year of college and I was really 612 00:40:01,380 --> 00:40:04,660 Sophia: stressed out about getting an internship or getting a job 613 00:40:04,670 --> 00:40:06,190 Sophia: or what my future was going to look like. 614 00:40:06,480 --> 00:40:10,630 Sophia: I called Aunt Suze and she said think about what 615 00:40:10,630 --> 00:40:14,690 Sophia: your dream internship is and it to me at the 616 00:40:14,690 --> 00:40:18,250 Sophia: time it seemed very far fetched and she said just 617 00:40:18,250 --> 00:40:21,340 Sophia: imagine that you were there and imagine that you already 618 00:40:21,340 --> 00:40:24,890 Sophia: have the job and she said write down instead of 619 00:40:24,900 --> 00:40:28,320 Sophia: manifesting like I hope I get this job right down. 620 00:40:28,320 --> 00:40:30,520 Sophia: I think it was like 20 or 25 times a 621 00:40:30,520 --> 00:40:31,140 Sophia: day 622 00:40:31,330 --> 00:40:34,600 Sophia: I have this job and they love me. And so 623 00:40:34,600 --> 00:40:37,580 Sophia: I actually have notebooks that I still look at now 624 00:40:37,580 --> 00:40:40,400 Sophia: and I got the job and and like looking back 625 00:40:40,400 --> 00:40:42,459 Sophia: on it, I have all of these pages that says 626 00:40:42,469 --> 00:40:44,330 Sophia: I love my job and they love me, I love 627 00:40:44,330 --> 00:40:46,530 Sophia: my job and they love me and I think she 628 00:40:46,530 --> 00:40:47,350 Sophia: always 629 00:40:47,630 --> 00:40:51,190 Sophia: says just be confident in yourself and believe in yourself 630 00:40:51,190 --> 00:40:53,989 Sophia: and as silly as that sounds, I think that she 631 00:40:54,000 --> 00:40:56,270 Sophia: she says it in the hard moments, in the right 632 00:40:56,270 --> 00:41:00,050 Sophia: moments and it usually does work out if you're if 633 00:41:00,050 --> 00:41:04,270 Sophia: you're manifesting positivity and manifesting success and working really hard 634 00:41:04,280 --> 00:41:07,600 Sophia: and that's something that she has just always told us 635 00:41:07,600 --> 00:41:11,810 Sophia: from a young age is just you know, shoot high and and work really hard. 636 00:41:13,270 --> 00:41:16,089 Sophia: So well, we can't wait for thanksgiving this year. We 637 00:41:16,090 --> 00:41:18,810 Sophia: love you and can't wait to see you, we love you. 638 00:41:18,810 --> 00:41:20,569 Sophia: Happy thanksgiving. 639 00:41:20,580 --> 00:41:23,550 Robert: Well there you go. A little extra helping of joy 640 00:41:23,560 --> 00:41:28,120 Robert: this morning. On behalf of myself, KT and Suze, Thanks 641 00:41:28,120 --> 00:41:30,299 Robert: for listening and Happy Thanksgiving.