1 00:00:29,420 --> 00:00:33,630 KT: Hello everybody. Welcome to the Women and Money podcast, and 2 00:00:33,630 --> 00:00:38,520 KT: everyone's smart enough to listen on February 13th featuring KT 3 00:00:38,520 --> 00:00:39,369 KT: and Suze. 4 00:00:40,119 --> 00:00:40,529 Suze: What year, what year KT? 5 00:00:41,529 --> 00:00:45,020 KT: What do you mean what year? Everyone knows it's 2025. 6 00:00:45,319 --> 00:00:47,089 Suze: There we go. We now know what year. 7 00:00:47,299 --> 00:00:50,098 KT: All right, so we have an exciting, I mean, what 8 00:00:50,098 --> 00:00:56,400 KT: a week so far. Super Bowl was unbelievable, kind 9 00:00:56,400 --> 00:01:01,740 Suze: of, right? I can't believe that the Kansas City Chiefs lost, 10 00:01:01,819 --> 00:01:03,180 Suze: so let's not talk about it. 11 00:01:03,419 --> 00:01:06,449 KT: So Suze, it's still a special day today. 12 00:01:06,699 --> 00:01:08,690 Suze: What makes this day so special? 13 00:01:09,069 --> 00:01:09,694 KT: You know why... 14 00:01:09,694 --> 00:01:09,776 Suze: I do... 15 00:01:10,360 --> 00:01:12,330 KT: Come on, whose birthday is it Suze? 16 00:01:12,500 --> 00:01:17,378 Suze: So actually this is a birthday of a kind of 17 00:01:17,379 --> 00:01:19,018 Suze: strange birthday because it's Julie 18 00:01:19,019 --> 00:01:19,699 KT: and Laurie, 19 00:01:20,019 --> 00:01:24,580 Suze: Julie and Laurie's birthday is today, right? Don't you love that? 20 00:01:24,699 --> 00:01:25,330 KT: I do. 21 00:01:25,910 --> 00:01:27,139 KT: And she will too. 22 00:01:27,819 --> 00:01:30,139 Suze: So anyway, we want to wish you that. 23 00:01:30,444 --> 00:01:33,434 Suze: Happiest of birthdays we are so happy that you are 24 00:01:33,434 --> 00:01:38,244 Suze: in our lives and that we're kind of becoming one, 25 00:01:38,444 --> 00:01:41,385 Suze: so to speak, but anyway, have 26 00:01:41,385 --> 00:01:41,964 KT: a great 27 00:01:41,964 --> 00:01:43,485 Suze: happy birthday 28 00:01:43,485 --> 00:01:47,565 KT: eat ice cream but leave some room for the chocolates 29 00:01:47,565 --> 00:01:51,205 KT: because tomorrow is what Suze? 30 00:01:53,970 --> 00:01:54,085 Suze: (Suze makes kissing sounds) 31 00:01:54,085 --> 00:01:54,769 KT: What is that? 32 00:01:54,889 --> 00:01:55,669 Suze: I'm kissing 33 00:01:55,669 --> 00:01:55,889 Suze: you. 34 00:01:57,000 --> 00:02:00,069 KT: Tomorrow is Valentine's Day, and for any of you that 35 00:02:00,069 --> 00:02:03,489 KT: don't have a Valentine, I'm looking at one right here 36 00:02:03,489 --> 00:02:06,970 KT: that has so much love to share. She's gonna spread 37 00:02:06,970 --> 00:02:09,220 KT: it all over the world tomorrow. 38 00:02:10,538 --> 00:02:14,410 Suze: Wait, let's ask everybody, will you 39 00:02:14,410 --> 00:02:16,839 KT: be our Valentine? 40 00:02:17,429 --> 00:02:20,228 Suze: Wouldn't that be great if we had tens of thousands 41 00:02:20,229 --> 00:02:22,860 Suze: of people being our Valentines and we're theirs? 42 00:02:23,309 --> 00:02:26,059 KT: When, when you were a kid in school, did you, uh, 43 00:02:26,070 --> 00:02:29,830 KT: make like little Valentine envelopes and they would pin them 44 00:02:29,830 --> 00:02:32,538 KT: on the wall and everybody would bring Valentine's and put 45 00:02:32,538 --> 00:02:35,698 KT: them in and like mine was always overflowing. 46 00:02:36,960 --> 00:02:39,899 Suze: I bet everybody wanted you to be their Valentine. 47 00:02:40,199 --> 00:02:42,190 KT: Did you do that when you were a kid? No, 48 00:02:42,399 --> 00:02:43,639 KT: they didn't do that in your school. 49 00:02:43,720 --> 00:02:43,758 Suze: The 50 00:02:43,758 --> 00:02:48,160 Suze: only thing that I remember about Valentine's Day that I 51 00:02:48,160 --> 00:02:53,240 Suze: loved more than anything was the little Valentine hearts that 52 00:02:53,240 --> 00:02:54,800 Suze: had those little sayings on them, 53 00:02:54,919 --> 00:02:56,758 KT: a little candy candy hearts. 54 00:02:56,809 --> 00:02:59,389 Suze: I loved those so much. I can't even tell you. 55 00:02:59,559 --> 00:03:00,839 Suze: All right, KT though. 56 00:03:02,038 --> 00:03:06,440 Suze: What questions? And by the way, everybody, as KT told 57 00:03:06,440 --> 00:03:08,679 Suze: you this is ask, did you say it was Ask 58 00:03:08,679 --> 00:03:10,679 Suze: KT and Suze anything? I'm not 59 00:03:10,679 --> 00:03:13,538 KT: sure you did. I did. Women and Money podcast, 60 00:03:13,758 --> 00:03:17,350 Suze: but that's different than if it anyway, it doesn't matter, 61 00:03:17,410 --> 00:03:17,600 Suze: but 62 00:03:17,600 --> 00:03:20,199 KT: this is Thursday. They all know it's Ask KT 63 00:03:21,554 --> 00:03:24,554 KT: anything and I'll ask Suze, and she'll answer. 64 00:03:24,794 --> 00:03:25,445 Suze: Oh God, 65 00:03:25,514 --> 00:03:29,353 Suze: here we go. For those of you who want to 66 00:03:29,354 --> 00:03:33,074 Suze: write in a question to ask Suze, S U Z 67 00:03:33,074 --> 00:03:36,725 Suze: E podcast at gmail.com and if... 68 00:03:37,350 --> 00:03:41,929 Suze: If KT chooses it, we will ask and answer it 69 00:03:41,929 --> 00:03:44,369 Suze: on the air. OK, go on, KT. 70 00:03:44,570 --> 00:03:48,449 KT: My first question is from Benjamin. I like that name. 71 00:03:48,800 --> 00:03:49,669 KT: Benjamin 72 00:03:49,669 --> 00:03:50,529 Suze: Benjamin, 73 00:03:50,860 --> 00:03:54,050 KT: yeah, that's how you say it in Spanish, Benjamin, Benjamin. 74 00:03:55,994 --> 00:03:59,554 KT: So Benjamin said Suze, my mom gave me the Young, Fabulous 75 00:03:59,554 --> 00:04:03,604 KT: and Broke book as a teenager. I am now 35. 76 00:04:03,914 --> 00:04:07,675 KT: It was my first financial book ever, and that book 77 00:04:07,675 --> 00:04:11,634 KT: changed my life. I am so grateful to you, Suze. 78 00:04:11,940 --> 00:04:15,100 KT: And then he said, luckily I found your podcast during 79 00:04:15,100 --> 00:04:19,029 KT: the 2020 COVID crisis, and I've been looking forward to 80 00:04:19,029 --> 00:04:23,149 KT: your new episodes every week in addition to having the 81 00:04:23,149 --> 00:04:27,868 KT: must have documents, and Alliant savings account and the Women 82 00:04:27,869 --> 00:04:31,739 KT: and Money app. So Benjamin, you're getting a big applause. 83 00:04:31,829 --> 00:04:33,320 KT: She wants you to be her Valentine. 84 00:04:33,700 --> 00:04:38,160 KT: I'm so, so this is a little backstory and then 85 00:04:38,160 --> 00:04:41,640 KT: a question. Benjamin said my partner of six years and 86 00:04:41,640 --> 00:04:47,790 KT: I eloped this past September 2024. We both have good jobs. 87 00:04:47,880 --> 00:04:51,428 KT: I work in finance at the Mayo Clinic, and he 88 00:04:51,428 --> 00:04:54,959 KT: is an ER doctor with a stable income. 89 00:04:55,600 --> 00:05:00,079 KT: How should we go about combining our finances? I understand 90 00:05:00,079 --> 00:05:04,320 KT: the percentage ratio based off income, but should we open 91 00:05:04,320 --> 00:05:08,000 KT: a credit card together or a checking account? So that's 92 00:05:08,000 --> 00:05:12,160 KT: the first question. The second is, should Taylor and I 93 00:05:12,160 --> 00:05:16,000 KT: sign up for term life insurance if we don't plan 94 00:05:16,000 --> 00:05:20,390 KT: to have children? Suze, we appreciate you so much. 95 00:05:20,519 --> 00:05:22,200 Suze: He didn't say Suze and KT. 96 00:05:22,549 --> 00:05:25,178 KT: Yeah, he said Suze and KT, but I just said 97 00:05:25,178 --> 00:05:28,619 KT: Suze because you, you're the one that taught him everything. 98 00:05:30,238 --> 00:05:33,000 KT: I love that you both eloped. I think that 99 00:05:33,000 --> 00:05:34,640 Suze: we kind of did, right? 100 00:05:35,000 --> 00:05:37,640 KT: No, we didn't elope. We just, um, took advantage of 101 00:05:37,640 --> 00:05:40,279 KT: a great opportunity when we got married. We had a 102 00:05:40,279 --> 00:05:43,719 KT: day off and we were in South Africa and we 103 00:05:43,720 --> 00:05:49,268 KT: learned at a luncheon that South Africa had no laws, rules, 104 00:05:49,279 --> 00:05:52,920 KT: or objection to any kind of union. 105 00:05:53,040 --> 00:05:57,029 Suze: Yeah, there was no differentiation in the year 2010. 106 00:05:58,119 --> 00:05:58,480 KT: Before it was 107 00:05:58,613 --> 00:06:00,834 KT: legal in America, so we said let's go do it 108 00:06:00,834 --> 00:06:03,295 KT: and we did. It was great. We had a fun wedding. 109 00:06:03,484 --> 00:06:03,724 Suze: Here's 110 00:06:03,725 --> 00:06:06,524 Suze: the thing, KT, what would you say to Benjamin? Should 111 00:06:06,524 --> 00:06:10,113 Suze: he have joint credit cards and a joint checking account? 112 00:06:10,595 --> 00:06:14,075 KT: He and Taylor noticed that we have separate accounts 113 00:06:14,524 --> 00:06:16,464 Suze: And we even have separate credit cards. 114 00:06:16,684 --> 00:06:19,595 KT: Yeah, we have separate everything, um, but I think what 115 00:06:19,595 --> 00:06:22,683 KT: they are looking to do is to figure out the 116 00:06:22,684 --> 00:06:26,475 KT: best way as a couple, as a family, a married 117 00:06:26,475 --> 00:06:27,084 KT: family 118 00:06:27,640 --> 00:06:30,899 KT: to pay for things and use, you know... 119 00:06:31,359 --> 00:06:35,059 Suze: But he says he understands the percentage amount. So Benjamin, here's what 120 00:06:35,059 --> 00:06:36,250 Suze: I would say to you. 121 00:06:37,269 --> 00:06:42,149 Suze: Pay things according to the percentage amount which is something 122 00:06:42,149 --> 00:06:48,070 Suze: you understand so remember everybody it's never about equal amounts 123 00:06:48,070 --> 00:06:51,899 Suze: of money it's about equal percentages and if you don't 124 00:06:51,899 --> 00:06:54,339 Suze: know what I mean by that, look it up on 125 00:06:54,339 --> 00:06:57,308 Suze: the community app and go to the podcast that I 126 00:06:57,309 --> 00:07:02,910 Suze: talk about that in however, personally I would not 127 00:07:03,380 --> 00:07:07,539 Suze: join credit cards. I would each have your own individual 128 00:07:07,540 --> 00:07:11,899 Suze: credit cards as well as checking accounts when we say 129 00:07:11,899 --> 00:07:19,350 Suze: that everything is separate, everything is separate between us except 130 00:07:19,899 --> 00:07:24,059 Suze: real estate which is in joint tenancy that's it. 131 00:07:24,510 --> 00:07:27,959 Suze: So and cars and cars right and so... 132 00:07:27,970 --> 00:07:29,410 KT: But the boat is Suze's. 133 00:07:29,410 --> 00:07:31,589 Suze: But the boat is mine, but I don't have to 134 00:07:31,589 --> 00:07:35,350 Suze: worry about is she balancing her checkbook? Is she overdrawn? 135 00:07:35,420 --> 00:07:41,549 Suze: Is she not? Everything we're both independent responsible for our 136 00:07:41,549 --> 00:07:46,100 Suze: own accounts that way in case it doesn't work out. 137 00:07:46,709 --> 00:07:50,429 Suze: I'm not saying that but just in case then it's 138 00:07:50,429 --> 00:07:52,019 Suze: so much easier. 139 00:07:52,440 --> 00:07:56,640 Suze: Because how many times have I heard a case where 140 00:07:56,640 --> 00:07:59,910 Suze: you had a joint checking account and one of the 141 00:07:59,910 --> 00:08:04,519 Suze: spouses wiped it clean, one of the spouses charged up 142 00:08:04,519 --> 00:08:06,839 Suze: the credit cards galore. 143 00:08:07,489 --> 00:08:10,359 Suze: And then just took off and the remaining spouse was 144 00:08:10,359 --> 00:08:12,959 Suze: responsible for it and on and on and on so 145 00:08:12,959 --> 00:08:16,239 Suze: therefore that's what I would tell you in terms of 146 00:08:16,239 --> 00:08:21,959 Suze: term life insurance especially since Taylor is it Taylor KT 147 00:08:21,959 --> 00:08:28,519 Suze: yeah especially since Taylor is an emergency room doctor, he 148 00:08:28,519 --> 00:08:32,599 Suze: knows very well that life is very fragile. 149 00:08:33,210 --> 00:08:37,309 Suze: So term life insurance isn't necessarily just for the kids 150 00:08:38,119 --> 00:08:42,079 Suze: it's you have to put yourselves in the situation that 151 00:08:42,080 --> 00:08:45,679 Suze: if you were to die, Benjamin today or if Taylor 152 00:08:45,679 --> 00:08:50,919 Suze: were to die today, would you be OK financially if 153 00:08:50,919 --> 00:08:54,359 Suze: both of you would be OK financially then really there's 154 00:08:54,359 --> 00:08:58,150 Suze: no need to get term insurance, however, I have to 155 00:08:58,150 --> 00:09:01,950 Suze: say at 35 years of age. 156 00:09:02,650 --> 00:09:06,299 Suze: You could get a million dollars term life insurance, maybe 157 00:09:06,299 --> 00:09:11,789 Suze: $5 million for 50 $100 whatever a month, and given 158 00:09:11,789 --> 00:09:14,669 Suze: that you're making a nice sum of money, I would 159 00:09:14,669 --> 00:09:21,510 Suze: do it just to do it because you just never know. Congratulations, 160 00:09:21,570 --> 00:09:24,679 Suze: my dear Benjamin. All right, KT next. 161 00:09:24,830 --> 00:09:28,909 KT: OK, next is from Joanne. She said, Suze. 162 00:09:29,770 --> 00:09:30,619 Suze: Thank you Joanne. 163 00:09:32,559 --> 00:09:35,580 KT: Thank you so much for your podcast. I'm a female 164 00:09:35,580 --> 00:09:42,250 KT: 57 who has had multiple sclerosis for over 30 years. 165 00:09:42,500 --> 00:09:45,059 KT: I was 25 when I was diagnosed. 166 00:09:45,580 --> 00:09:49,179 KT: I am a teacher on disability and I receive $3000 167 00:09:49,179 --> 00:09:53,630 KT: a month. When my younger son turns 21, it will 168 00:09:53,630 --> 00:09:58,299 KT: drop to $2500 for the rest of my life. They 169 00:09:58,299 --> 00:10:01,210 KT: still allow me to work with a limit to my 170 00:10:01,210 --> 00:10:04,260 KT: earnings as a substitute teacher. I don't have much in 171 00:10:04,260 --> 00:10:08,339 KT: my 403B because I didn't contribute for years when I 172 00:10:08,340 --> 00:10:09,299 KT: started subbing. 173 00:10:09,669 --> 00:10:12,979 KT: Bottom line, any good advice for me and my family 174 00:10:12,979 --> 00:10:16,900 KT: would be greatly appreciated. My husband has a good 401k 175 00:10:16,900 --> 00:10:20,780 KT: that his company matches. We just bought our first home 176 00:10:20,780 --> 00:10:25,900 KT: last year, finally, God bless you both, and we're gonna 177 00:10:25,900 --> 00:10:28,539 KT: say right back at you, Joanne. God bless you too. 178 00:10:29,380 --> 00:10:33,739 Suze: Here's the bottom line truthfully, it's not how much money 179 00:10:33,739 --> 00:10:34,679 Suze: you have. 180 00:10:35,429 --> 00:10:41,169 Suze: It's more important, what are your expenses, because if your 181 00:10:41,169 --> 00:10:44,119 Suze: expenses can be very, very low. 182 00:10:45,140 --> 00:10:50,020 Suze: Then you don't need as much income. It's not about 183 00:10:50,020 --> 00:10:54,299 Suze: how much money you make. It's what are the expenses 184 00:10:54,299 --> 00:10:58,390 Suze: that you have that you may need more money to pay. 185 00:10:58,940 --> 00:11:03,330 Suze: You said the key here, which is you finally bought 186 00:11:03,330 --> 00:11:05,608 Suze: a home last year. 187 00:11:06,619 --> 00:11:10,020 Suze: So the question becomes did you do it with a 188 00:11:10,020 --> 00:11:15,309 Suze: 30 year mortgage or a 15 year mortgage because in 189 00:11:15,309 --> 00:11:21,260 Suze: 30 years, God willing, you'll be 87 years of age 190 00:11:21,260 --> 00:11:25,429 Suze: that's a long time to have to be paying a mortgage. 191 00:11:25,820 --> 00:11:31,369 Suze: 15 years from now you would only be 72, which 192 00:11:31,369 --> 00:11:35,289 Suze: is 1 or 2 years younger than we are right now. 193 00:11:35,770 --> 00:11:38,950 Suze: So what I would be doing if I were you. 194 00:11:40,330 --> 00:11:44,690 Suze: Any extra money if you can afford this, any extra 195 00:11:44,690 --> 00:11:49,069 Suze: money that you make, and I think as a teacher 196 00:11:49,369 --> 00:11:54,369 Suze: that's getting the teacher disability, I think you're allowed depending 197 00:11:54,369 --> 00:11:58,380 Suze: on where you live to make anywhere between $15,000 and 198 00:11:58,380 --> 00:12:04,130 Suze: $25,000 per year, so not bad. Maybe you're making besides 199 00:12:04,130 --> 00:12:07,210 Suze: the $2500 a month for the rest of your life 200 00:12:07,210 --> 00:12:09,130 Suze: when your son turns 21. 201 00:12:09,739 --> 00:12:14,650 Suze: Then maybe you're making another 2000 a month or something 202 00:12:14,650 --> 00:12:19,130 Suze: like that plus whatever your husband is making and whatever 203 00:12:19,130 --> 00:12:25,179 Suze: is in his 403B account. So the question becomes, are 204 00:12:25,179 --> 00:12:29,099 Suze: you better only contributing up to the point of the 205 00:12:29,099 --> 00:12:32,489 Suze: match in your husband's 403B. 206 00:12:33,729 --> 00:12:36,369 Suze: Because the truth of the matter is you're not in 207 00:12:36,369 --> 00:12:40,049 Suze: a very high tax bracket. I have a feeling, and 208 00:12:40,049 --> 00:12:45,510 Suze: taking that extra money and putting it towards what the 209 00:12:45,510 --> 00:12:49,729 Suze: mortgage on your home so that by the time you 210 00:12:49,729 --> 00:12:54,449 Suze: really do have to stop working, you own your home outright. 211 00:12:54,979 --> 00:13:00,380 Suze: If you own your home outright, your disability check, plus 212 00:13:00,380 --> 00:13:05,219 Suze: whatever your hubby will be getting in Social Security, plus 213 00:13:05,219 --> 00:13:07,619 Suze: the money that's in the 403B. 214 00:13:08,460 --> 00:13:13,250 Suze: Will probably serve you very, very well. So your key 215 00:13:13,250 --> 00:13:18,460 Suze: is to reduce any possible fixed expenses that you have 216 00:13:18,460 --> 00:13:21,130 Suze: so they're not there by the time you retire. 217 00:13:22,320 --> 00:13:28,640 Suze: And that will help you dramatically. That is my advice 218 00:13:28,640 --> 00:13:30,169 Suze: to you. All right, 219 00:13:30,260 --> 00:13:33,689 KT: OK, it seems like I'm on a retirement theme today, 220 00:13:33,739 --> 00:13:38,619 KT: so Ellen asks, hi Suze, I'm retiring in July and 221 00:13:38,619 --> 00:13:43,020 KT: I'm finding myself quite anxious about it. People get scared 222 00:13:43,020 --> 00:13:44,500 KT: when they retire, Suze. 223 00:13:45,080 --> 00:13:47,880 KT: They get really nervous, so here's what she said I 224 00:13:47,880 --> 00:13:50,989 KT: had planned to take my pension in a lump sum, 225 00:13:51,400 --> 00:13:58,119 KT: approximately $450,000 mainly because I feel it can grow much 226 00:13:58,119 --> 00:14:00,489 KT: more than receiving it monthly. 227 00:14:00,849 --> 00:14:04,880 KT: I believe it would be around $3000 a month or 228 00:14:04,880 --> 00:14:09,520 KT: slightly higher between that and my Social Security, I would 229 00:14:09,520 --> 00:14:14,750 KT: hardly need to draw from my investments except for large expenses, 230 00:14:14,919 --> 00:14:18,080 KT: but I keep going back and forth. What should I do? 231 00:14:18,200 --> 00:14:19,390 KT: I really appreciate 232 00:14:19,450 --> 00:14:23,070 KT: all the advice you have given me all of these years, 233 00:14:23,080 --> 00:14:25,760 KT: you are a blessing boy Suze, you're getting a lot 234 00:14:25,760 --> 00:14:28,479 KT: of blessings today. OK, what's your advice for Ellen? 235 00:14:28,479 --> 00:14:32,869 Suze: Here's the thing. Katie just handed me Ellen, your email. 236 00:14:32,919 --> 00:14:36,270 Suze: Now everybody, you have to get this when you write 237 00:14:36,270 --> 00:14:40,440 Suze: a long email, we're not gonna tell all the facts 238 00:14:40,440 --> 00:14:43,400 Suze: and figures that you've written. We may not even read 239 00:14:43,400 --> 00:14:44,799 Suze: it when it's too long. 240 00:14:45,239 --> 00:14:50,520 Suze: So KT just highlighted what your question happens to be, 241 00:14:50,770 --> 00:14:54,880 Suze: but as I'm reading your email to myself right now, 242 00:14:55,289 --> 00:14:59,890 Suze: you only use the word I feel I max out 243 00:14:59,890 --> 00:15:03,570 Suze: every year. You do not say we anywhere. You do 244 00:15:03,570 --> 00:15:07,059 Suze: not mention anywhere in this email that you have a 245 00:15:07,059 --> 00:15:12,369 Suze: partner meaning a spouse. You say that you're going to 246 00:15:12,369 --> 00:15:14,969 Suze: get a $3000 a month pension. 247 00:15:15,260 --> 00:15:19,869 Suze: And I have a feeling that because you didn't say 248 00:15:20,090 --> 00:15:23,650 Suze: it was a 100% joint in life and survivor benefit, 249 00:15:23,739 --> 00:15:27,330 Suze: which means if you die, your partner gets that, you're 250 00:15:27,330 --> 00:15:31,929 Suze: probably taking a life only pension which gives you the 251 00:15:31,929 --> 00:15:33,090 Suze: highest amount. 252 00:15:33,880 --> 00:15:36,979 Suze: But it also means that upon your death, because you 253 00:15:36,979 --> 00:15:39,039 Suze: probably have nobody to leave it to because it can 254 00:15:39,039 --> 00:15:44,500 Suze: only be a spouse truthfully in most cases, that $3000 255 00:15:44,500 --> 00:15:46,849 Suze: would absolutely go away. 256 00:15:47,820 --> 00:15:52,200 Suze: So that's something one has to take into consideration. 257 00:15:53,260 --> 00:16:01,190 Suze: That 3% or $36,000 a year is an approximate 8% 258 00:16:01,549 --> 00:16:06,190 Suze: a year return on a $450,000 investment. 259 00:16:07,150 --> 00:16:09,900 Suze: Right, which would be your lump sum. 260 00:16:10,820 --> 00:16:15,869 Suze: What's interesting about that, even though that's totally taxable to you. 261 00:16:16,469 --> 00:16:19,969 Suze: And even though there isn't a cost of living increase 262 00:16:19,969 --> 00:16:20,460 Suze: on it. 263 00:16:21,349 --> 00:16:26,270 Suze: It's not like it will go down either. It's not 264 00:16:26,270 --> 00:16:30,659 Suze: like you will have any risk to that money at all. 265 00:16:31,510 --> 00:16:36,250 Suze: Now remember, if you take a lump sum and you 266 00:16:36,250 --> 00:16:40,799 Suze: roll it over to an IRA so it's not taxable 267 00:16:40,799 --> 00:16:41,409 Suze: to you. 268 00:16:42,349 --> 00:16:48,109 Suze: Even if you just assumed a conservative 5% return on 269 00:16:48,109 --> 00:16:52,520 Suze: your money, that's gonna generate for you about $1800 a month. 270 00:16:53,159 --> 00:16:58,479 Suze: $1200 a month, approximately less than the $3000 from your pension. 271 00:16:59,109 --> 00:17:03,349 Suze: And that's without depleting your principal. Now maybe you could 272 00:17:03,349 --> 00:17:07,989 Suze: get a 7% return which would give you about $2600 273 00:17:07,989 --> 00:17:13,329 Suze: a month, but you have to remember, Ellen, those returns 274 00:17:13,329 --> 00:17:15,040 Suze: are not guaranteed. 275 00:17:15,910 --> 00:17:23,130 Suze: The $3000 a month return is guaranteed for your life, 276 00:17:23,540 --> 00:17:27,140 Suze: for your life. Now of course we could take into 277 00:17:27,140 --> 00:17:31,219 Suze: consideration inflation and what that will make that $3000 but 278 00:17:31,219 --> 00:17:35,660 Suze: who cares about that? because truthfully you have other investments 279 00:17:35,660 --> 00:17:38,569 Suze: that could make up for that as well. 280 00:17:39,439 --> 00:17:47,149 Suze: So it depends. Do you feel capable of investing $450,000 281 00:17:47,150 --> 00:17:51,000 Suze: to generate income for yourself? What if you had taken 282 00:17:51,000 --> 00:17:55,680 Suze: the $450,000 a few years ago and interest rates were 283 00:17:55,680 --> 00:18:00,079 Suze: down to 0.06%, 0.01%? 284 00:18:00,709 --> 00:18:03,010 Suze: The markets weren't doing so great. Do you see what 285 00:18:03,010 --> 00:18:06,300 Suze: I mean, Ellen? So there are things you can't always 286 00:18:06,300 --> 00:18:10,050 Suze: assume you're gonna make a 4 or 5% return on 287 00:18:10,050 --> 00:18:12,609 Suze: your money or more unless you put it in like 288 00:18:12,609 --> 00:18:16,280 Suze: a 20 or 30 year treasury bond or something like that. 289 00:18:17,030 --> 00:18:19,790 Suze: The thing that you also have to consider, and I 290 00:18:19,790 --> 00:18:22,709 Suze: know I'm going long here but that's because I think 291 00:18:22,709 --> 00:18:25,709 Suze: you need to know and many people listening are in 292 00:18:25,709 --> 00:18:30,659 Suze: this situation is that when you do an IRA roll 293 00:18:30,660 --> 00:18:31,708 Suze: over with it. 294 00:18:32,510 --> 00:18:37,119 Suze: You're going to have to start doing required minimum distributions 295 00:18:37,729 --> 00:18:41,869 Suze: sooner than later, and you do not say anywhere in 296 00:18:41,869 --> 00:18:47,030 Suze: here how old you currently are. Therefore, I don't know 297 00:18:47,030 --> 00:18:51,760 Suze: how many years you are away from RMDs, and when 298 00:18:51,760 --> 00:18:57,209 Suze: you start taking required minimum distributions out, the balance most 299 00:18:57,209 --> 00:19:01,010 Suze: likely in your IRA starts to go down and down 300 00:19:01,010 --> 00:19:01,889 Suze: and down. 301 00:19:02,520 --> 00:19:07,449 Suze: So you can't count on always having $450,000 in there. 302 00:19:08,130 --> 00:19:12,979 Suze: So what should you do when I don't know what 303 00:19:12,979 --> 00:19:13,619 Suze: to do. 304 00:19:14,339 --> 00:19:19,260 Suze: I kind of do both. What do I mean by that? 305 00:19:19,650 --> 00:19:23,849 Suze: You could take a lump sum, go over into an 306 00:19:23,849 --> 00:19:29,849 Suze: IRA with it, and within the IRA you could possibly 307 00:19:29,849 --> 00:19:36,290 Suze: purchase an annuity with half of it, like $225,000 in 308 00:19:36,290 --> 00:19:39,889 Suze: income annuity that gives you a guaranteed income for the 309 00:19:39,890 --> 00:19:43,130 Suze: rest of your life and invest the other. 310 00:19:43,890 --> 00:19:49,189 Suze: But if you're confident in managing your investments, then probably 311 00:19:49,189 --> 00:19:51,750 Suze: the lump sum would be a better would be a 312 00:19:51,750 --> 00:19:56,869 Suze: better choice. But if you value your security over growth 313 00:19:56,869 --> 00:19:59,630 Suze: and don't want to take any market risk, then the 314 00:19:59,630 --> 00:20:04,189 Suze: pension might be better. But if you're still undecided, you 315 00:20:04,189 --> 00:20:08,469 Suze: can do a partial annuitization strategy like I just said. 316 00:20:08,989 --> 00:20:12,430 Suze: Anyway, now you know. How is that KT? 317 00:20:12,630 --> 00:20:15,709 KT: I like that you do both. I like that it's 318 00:20:15,709 --> 00:20:19,938 KT: kind of like a win-win, you know, when you're not quite, well, 319 00:20:19,979 --> 00:20:22,469 KT: you're not quite sure what her... 320 00:20:24,660 --> 00:20:27,729 Suze: Honestly, if I probably had to choose one or the other, 321 00:20:29,050 --> 00:20:30,910 Suze: and I can tell you, and I had nobody to 322 00:20:30,910 --> 00:20:37,189 Suze: leave money to didn't matter nieces, nobody, dogs, pets, anything, nobody, nothing, 323 00:20:37,339 --> 00:20:42,399 Suze: no KT, I would probably take the pension, especially because 324 00:20:42,739 --> 00:20:45,780 Suze: she has other money invested. 325 00:20:46,410 --> 00:20:50,629 Suze: She has a 403B. She has a Roth. She has 326 00:20:50,630 --> 00:20:54,359 Suze: all of those things that she's maxed out every year, 327 00:20:54,609 --> 00:20:58,089 Suze: so she already has a portion of money, and she 328 00:20:58,089 --> 00:21:01,760 Suze: said in here that the $3000 a month. 329 00:21:02,729 --> 00:21:07,280 Suze: Plus Social Security, she won't have to touch the other money, 330 00:21:07,489 --> 00:21:09,290 Suze: and she's quite anxious. So therefore... 331 00:21:09,969 --> 00:21:10,410 KT: She wouldn't 332 00:21:10,410 --> 00:21:13,500 KT: be anxious, just living on what she knows she has. 333 00:21:13,599 --> 00:21:15,329 Suze: So that's what I would do if I were her, 334 00:21:15,339 --> 00:21:16,560 Suze: but she has to decide. 335 00:21:16,770 --> 00:21:20,739 KT: Our next question is from Renee. Hello, Suze and KT. 336 00:21:21,489 --> 00:21:22,010 Suze: Hello Renee. 337 00:21:22,250 --> 00:21:23,649 KT: I have a quick question. 338 00:21:24,050 --> 00:21:28,409 KT: My father passed away last year. I'm helping my mother 339 00:21:28,410 --> 00:21:34,209 KT: with her finances. I'm reading that the Securities Investor Protection Corporation, 340 00:21:34,530 --> 00:21:38,089 KT: is that SIPIC and that's what you call it SIPIC, uh, 341 00:21:38,329 --> 00:21:44,329 KT: protects IRA and brokerage accounts up to $500,000. So for 342 00:21:44,329 --> 00:21:47,599 KT: protection it would seem that we should spread the money 343 00:21:48,209 --> 00:21:53,400 KT: between at least two financial institutions. What is your opinion? 344 00:21:55,229 --> 00:21:56,280 Suze: Should that be your quizzy? 345 00:21:58,209 --> 00:22:01,879 KT: Yeah, well, I'm just trying to figure out here how 346 00:22:01,880 --> 00:22:04,800 KT: much money she has to separate it because she doesn't 347 00:22:04,800 --> 00:22:08,630 KT: want to exceed the SIPIC half a million dollar, right? Yeah, 348 00:22:08,880 --> 00:22:11,479 KT: I think you, I think she doesn't really have to 349 00:22:11,479 --> 00:22:13,438 KT: do that. I mean she can do that, but you 350 00:22:13,439 --> 00:22:15,800 KT: don't have to do that if you make us the 351 00:22:15,800 --> 00:22:17,599 KT: other one another beneficiary. 352 00:22:17,839 --> 00:22:18,198 Suze: That's for 353 00:22:18,199 --> 00:22:19,359 Suze: FDIC insurance. 354 00:22:19,359 --> 00:22:20,359 Suze: OK do it 355 00:22:20,359 --> 00:22:21,109 KT: separate it. 356 00:22:21,520 --> 00:22:21,660 Suze: No. (Suze makes the wrong answer noise) 357 00:22:21,660 --> 00:22:23,239 KT: Oh, don't, I don't. 358 00:22:24,819 --> 00:22:27,930 KT: Don't separate. Alright, what should she do? 359 00:22:28,579 --> 00:22:31,738 Suze: So the truth of the matter is, Renee, most of 360 00:22:31,739 --> 00:22:35,819 Suze: our money is in one financial institution, even though it's 361 00:22:35,819 --> 00:22:39,099 Suze: two separate accounts. So here's what you need... 362 00:22:39,099 --> 00:22:42,939 KT: My account is a lot smaller than Suze's. 363 00:22:44,300 --> 00:22:45,040 Suze: Ah yeah. 364 00:22:45,949 --> 00:22:51,699 Suze: I'd say so, but it's still a seriously large account. Yeah. 365 00:22:52,189 --> 00:22:54,670 Suze: Are you proud of that? Did you ever think you'd 366 00:22:54,670 --> 00:22:55,619 Suze: have that much money? 367 00:22:56,380 --> 00:22:59,739 KT: Yeah, I actually did. I always thought I would be 368 00:23:00,719 --> 00:23:04,579 KT: a multimillionaire, yeah, when I was very young, I don't 369 00:23:04,579 --> 00:23:08,540 KT: know why I always thought that I would, it wasn't 370 00:23:08,540 --> 00:23:11,459 KT: something I strived to do as an artist, you know, 371 00:23:11,540 --> 00:23:14,579 KT: you never, everyone calls it a starving artist, but I 372 00:23:14,579 --> 00:23:19,060 KT: never did. I never did. I always thought, wow, I 373 00:23:19,060 --> 00:23:22,979 KT: could do what I love and really be very successful 374 00:23:22,979 --> 00:23:25,218 KT: and good at it, so I was. 375 00:23:26,109 --> 00:23:29,669 Suze: OK, not me, but all right, I never in a 376 00:23:29,670 --> 00:23:32,380 Suze: million years thought. 377 00:23:33,449 --> 00:23:36,189 KT: You never thought you'd be anything more than a waitress, 378 00:23:36,959 --> 00:23:37,380 Suze: That's right. 379 00:23:37,599 --> 00:23:39,949 KT: So it's like, so you really lucked out. 380 00:23:39,959 --> 00:23:40,000 KT: I did, didn't I? 381 00:23:42,239 --> 00:23:46,560 Suze: Anyway, what you need to know, Renee, is that why 382 00:23:46,560 --> 00:23:52,760 Suze: it's true, SIPIC covers um $500,000 per customer. 383 00:23:53,250 --> 00:23:57,579 Suze: And I believe it's a limit of $250,000 for cash 384 00:23:57,579 --> 00:24:02,099 Suze: also that's held in your account. All the brokerage firms 385 00:24:02,459 --> 00:24:07,739 Suze: have what's called Excess SIPIC insurance like, and I'll just 386 00:24:07,739 --> 00:24:10,219 Suze: tell talk about Schwab for right now because a lot 387 00:24:10,219 --> 00:24:15,680 Suze: of you have accounts at Schwab. Schwab, it's excess insurance 388 00:24:15,680 --> 00:24:19,119 Suze: is purchased from the Lloyd's of London. 389 00:24:19,589 --> 00:24:23,339 Suze: And they have an additional coverage that provides protection for 390 00:24:23,339 --> 00:24:30,209 Suze: securities and cash KT up to an aggregate of $600 million. 391 00:24:30,619 --> 00:24:33,900 Suze: So for everybody, if you have an account at Schwab 392 00:24:34,540 --> 00:24:38,329 Suze: in the unlikely event that the firm goes broke. 393 00:24:39,079 --> 00:24:42,659 Suze: It will cover your money, but if you have money 394 00:24:42,660 --> 00:24:44,060 Suze: that you invested. 395 00:24:44,650 --> 00:24:48,919 Suze: And the money has gone down in value. It does 396 00:24:48,920 --> 00:24:54,479 Suze: not cover you for market losses. You just have to 397 00:24:54,479 --> 00:24:58,640 Suze: know that, OK, so there you go. All right, KT next. 398 00:24:58,640 --> 00:25:02,589 KT: So, from Judith, hi ladies, can you explain how I 399 00:25:02,589 --> 00:25:07,239 KT: determine if capital gains applies when selling a stock if 400 00:25:07,239 --> 00:25:11,800 KT: I keep value cost averaging to a position? We all 401 00:25:11,800 --> 00:25:13,649 KT: learned about that last Sunday. 402 00:25:14,140 --> 00:25:17,239 KT: I have an account with Fidelity, and if I sell 403 00:25:17,239 --> 00:25:21,639 KT: it just asks a dollar amount, not which shares to 404 00:25:21,640 --> 00:25:25,199 KT: sell by date. I understand I don't want to sell 405 00:25:25,199 --> 00:25:28,879 KT: the shares I bought within a year to avoid ordinary income. 406 00:25:29,609 --> 00:25:32,630 KT: Thank you so much. So what should Judy do? 407 00:25:33,380 --> 00:25:37,079 Suze: I'm so tempted to say KT when... 408 00:25:38,229 --> 00:25:40,869 Suze: like one of the questions from last Sunday, when is 409 00:25:40,869 --> 00:25:45,050 Suze: it best that lump sum investing performs better for you 410 00:25:45,050 --> 00:25:46,459 Suze: when a stock does what? 411 00:25:46,989 --> 00:25:49,180 KT: When it rises, when it's on the rise. 412 00:25:49,270 --> 00:25:49,869 Suze: That's my girl! 413 00:25:50,150 --> 00:25:52,339 KT: Yeah, I learned all that, everybody. 414 00:25:52,829 --> 00:25:54,989 Suze: So Judy, here's what you need to know. Since your 415 00:25:54,989 --> 00:26:02,189 Suze: account is at Fidelity, I happen to know that by default, Fidelity, 416 00:26:02,229 --> 00:26:04,420 Suze: when you put in an order. 417 00:26:04,810 --> 00:26:10,479 Suze: And it asks for a dollar amount, it defaults to 418 00:26:10,479 --> 00:26:12,239 Suze: a FIFO method. 419 00:26:13,880 --> 00:26:14,569 KT: What's that? 420 00:26:14,699 --> 00:26:14,979 Suze: I 421 00:26:14,979 --> 00:26:15,140 Suze: knew 422 00:26:15,140 --> 00:26:15,260 KT: you 423 00:26:15,260 --> 00:26:15,660 Suze: were gonna say that. 424 00:26:15,660 --> 00:26:17,708 KT: No, what, what's, what is that method? 425 00:26:17,959 --> 00:26:18,459 Suze: FIFO 426 00:26:18,459 --> 00:26:21,459 KT: FIFO sounds like somebody's dog. What is it? 427 00:26:21,599 --> 00:26:28,489 Suze: It is, right? FIFO means, KT, first in and first out. 428 00:26:29,439 --> 00:26:32,729 Suze: So the oldest shares, which were the first ones you 429 00:26:32,729 --> 00:26:37,530 Suze: bought are the first ones to be sold. So Fidelity 430 00:26:37,530 --> 00:26:41,930 Suze: automatically does that for you and it's just that simple. 431 00:26:42,250 --> 00:26:43,229 KT: So she was worried about 432 00:26:43,229 --> 00:26:43,410 KT: that. 433 00:26:43,510 --> 00:26:45,810 Suze: So you don't have to be worried about that because 434 00:26:45,810 --> 00:26:49,329 Suze: when you put in a dollar amount and that's all 435 00:26:49,329 --> 00:26:53,790 Suze: it's asking you for at Fidelity, they're going to sell 436 00:26:53,790 --> 00:26:58,010 Suze: your oldest shares first. OK, next. 437 00:26:58,660 --> 00:27:01,660 KT: All right, this is from Rae. Dear KT and Suze, 438 00:27:01,780 --> 00:27:05,939 KT: quick question. I hope it's quick. I just realized we've 439 00:27:05,939 --> 00:27:09,780 KT: been charged what's called a record keeping fee for my 440 00:27:09,780 --> 00:27:14,140 KT: husband's 401k. It's a non Roth. This account has 441 00:27:14,310 --> 00:27:20,069 KT: roughly $360,000 ready, Suze. This really makes me mad and 442 00:27:20,069 --> 00:27:28,479 KT: the fee was $152 for this month. $1200 total last year. 443 00:27:28,640 --> 00:27:29,829 KT: Is this high? 444 00:27:30,290 --> 00:27:31,929 KT: They shouldn't even have to pay it, right? 445 00:27:32,130 --> 00:27:34,719 Suze: Well, the truth of the matter, what's happening here, KT, 446 00:27:35,089 --> 00:27:39,129 Suze: if it was 1200 last year and now it's, you know, 447 00:27:39,209 --> 00:27:42,849 Suze: $150 a month this year, so 8, it's that's 8 448 00:27:42,849 --> 00:27:44,208 Suze: that's 449 00:27:44,209 --> 00:27:44,410 Suze: crazy. 450 00:27:45,189 --> 00:27:45,599 KT: So wait. 451 00:27:46,084 --> 00:27:49,074 KT: It's making her really mad, everybody. So tell Rae what's 452 00:27:49,074 --> 00:27:53,074 Suze: Yes it's high. It's absolutely high. Rae so you can't 453 00:27:53,074 --> 00:27:57,185 Suze: avoid it if you're going to participate in the 401k. 454 00:27:57,635 --> 00:28:03,994 Suze: All right, now that is like a 0.51% fee. That's 455 00:28:03,994 --> 00:28:07,915 Suze: a lot. It's a lot, you know, usually it's 45 456 00:28:07,915 --> 00:28:11,675 Suze: to 80%, but that's why you might just want to 457 00:28:11,675 --> 00:28:14,834 Suze: contribute up to the point of the match. 458 00:28:15,229 --> 00:28:20,489 Suze: In the 401k and then go and open up a 459 00:28:20,489 --> 00:28:24,260 Suze: Roth IRA and contribute the rest there or whatever it 460 00:28:24,260 --> 00:28:27,819 Suze: may be however what your husband should do. 461 00:28:28,459 --> 00:28:36,140 Suze: Is go and ask his employer if they allow partial distributions. 462 00:28:36,339 --> 00:28:41,859 Suze: What does that mean? Many 401ks allow you to take 463 00:28:41,859 --> 00:28:46,130 Suze: up to either 50% of the value that's in there, 464 00:28:46,579 --> 00:28:51,900 Suze: sometimes only $50,000 and do a rollover with it if 465 00:28:51,900 --> 00:28:55,979 Suze: you want into an IRA rollover, all right. 466 00:28:56,510 --> 00:28:59,560 Suze: If you were to do that, you would bring down 467 00:28:59,560 --> 00:29:03,800 Suze: the balance of the account that is in there and 468 00:29:03,800 --> 00:29:10,680 Suze: therefore that fee of about 0.5%, OK, is now being 469 00:29:10,680 --> 00:29:14,790 Suze: charged on less money because it's out of there. 470 00:29:15,339 --> 00:29:19,510 Suze: And so that's what I would do if I were you. OK, 471 00:29:19,760 --> 00:29:20,430 Suze: all right. 472 00:29:20,520 --> 00:29:22,349 KT: It's horrible they charge that much. 473 00:29:22,439 --> 00:29:26,280 Suze: Yeah, it's funny. The very last thing that Rae says 474 00:29:26,280 --> 00:29:28,680 Suze: is that there's no way to roll over this money 475 00:29:28,680 --> 00:29:33,119 Suze: until he quits his job, correct? Ask if the company 476 00:29:33,119 --> 00:29:35,170 Suze: allows a partial distribution. 477 00:29:35,430 --> 00:29:38,319 KT: OK, I have one more question. I really like this one. 478 00:29:38,329 --> 00:29:41,180 KT: It's from Laurie because I know we're over so ready, 479 00:29:41,239 --> 00:29:42,599 KT: this is a short question. 480 00:29:43,160 --> 00:29:46,040 KT: I hear when it comes to the financial health of 481 00:29:46,040 --> 00:29:50,959 KT: our economy we look at the 10 year treasury. Suze, 482 00:29:51,040 --> 00:29:54,439 KT: could you please explain this? But I want you to 483 00:29:54,439 --> 00:29:57,640 KT: explain it to Laurie because she also said she's been 484 00:29:57,640 --> 00:30:00,920 KT: an avid fan of the podcast learning so much and 485 00:30:00,920 --> 00:30:05,959 KT: becoming more of an investor every day. Congratul yeah, good 486 00:30:05,959 --> 00:30:08,359 KT: for you, Laurie. So answer her question. 487 00:30:08,890 --> 00:30:10,959 KT: And then we'll give it a wrap, but I want 488 00:30:10,959 --> 00:30:12,829 KT: her to have her question answered. 489 00:30:12,959 --> 00:30:17,189 Suze: Yeah, a lot is dependent on the 10 year treasury. 490 00:30:17,439 --> 00:30:22,510 Suze: It influences mortgages. You've heard me say that before corporate bond, 491 00:30:22,760 --> 00:30:27,719 Suze: all kinds of things, borrowing costs, debt, everything raises the 492 00:30:27,719 --> 00:30:33,280 Suze: interest rates on credit cards, so our economy is influenced 493 00:30:33,280 --> 00:30:35,079 Suze: by are you buying a house. 494 00:30:35,165 --> 00:30:38,864 Suze: Are you not are corporations borrowing money so that they 495 00:30:38,864 --> 00:30:44,484 Suze: can grow more? All those things matter. Also one of 496 00:30:44,484 --> 00:30:49,395 Suze: the main indicators of are we a healthy economy or 497 00:30:49,395 --> 00:30:53,994 Suze: are we in a recessionary economy that's to come is 498 00:30:53,994 --> 00:30:57,594 Suze: something called the inverted yield curve. 499 00:30:58,060 --> 00:31:00,930 Suze: And we talked about this a lot, and this is 500 00:31:00,930 --> 00:31:06,760 Suze: where the 2 year treasury rate is compared to the 501 00:31:06,760 --> 00:31:12,079 Suze: 10 year treasury rate and if the 2 year rate 502 00:31:12,209 --> 00:31:15,609 Suze: is higher than the 10 year rate. 503 00:31:16,339 --> 00:31:21,489 Suze: Then that is a strong predictor that a recession is coming, 504 00:31:21,739 --> 00:31:26,380 Suze: which is the economy, so people watch the 10 year 505 00:31:26,380 --> 00:31:30,949 Suze: for all of those reasons, right? So when rates go up, 506 00:31:31,260 --> 00:31:36,339 Suze: remember borrowing becomes more expensive and then that slows down 507 00:31:36,339 --> 00:31:40,619 Suze: growth and bonds become more attractive, which could affect the 508 00:31:40,619 --> 00:31:41,979 Suze: stock market as well. 509 00:31:42,339 --> 00:31:46,719 Suze: But that is why everybody watches the 10 year because 510 00:31:46,719 --> 00:31:50,920 Suze: it's involved in so many of those indications. All right, 511 00:31:51,040 --> 00:31:52,050 Suze: so you're ready for your quizzy? 512 00:31:52,050 --> 00:31:53,829 KT: You gave me quizzy already. 513 00:31:54,319 --> 00:31:54,770 Suze: What was your quizzy? 514 00:31:55,280 --> 00:31:56,020 KT: You gave me one. 515 00:31:56,239 --> 00:31:57,109 Suze: Did you get it right? 516 00:31:57,359 --> 00:32:01,000 KT: No, I didn't. Why give me one and see if 517 00:32:01,000 --> 00:32:01,238 KT: I get 518 00:32:01,239 --> 00:32:01,400 KT: it right? 519 00:32:01,400 --> 00:32:04,439 Suze: No, we'll see. If you feel that way, I'll save 520 00:32:04,439 --> 00:32:06,199 Suze: this one. Do you want me to save it? Yes, 521 00:32:06,630 --> 00:32:07,079 Suze: because are you done. 522 00:32:07,760 --> 00:32:10,959 KT: Yeah, it's Valentine's Day tomorrow. I don't want to quizzy. 523 00:32:11,599 --> 00:32:14,380 Suze: Oh, that's so sweet because you don't want me to go... 524 00:32:14,380 --> 00:32:19,900 Suze: I know here's your quizzy, right? How much does Suze 525 00:32:19,900 --> 00:32:20,449 Suze: love you? 526 00:32:21,819 --> 00:32:24,300 KT: More than all the money in the 527 00:32:24,300 --> 00:32:24,819 KT: world 528 00:32:24,819 --> 00:32:26,310 Suze: Ding ding ding ding ding ding. 529 00:32:28,410 --> 00:32:30,170 Suze: Although it's not, that's not how I would have answered 530 00:32:30,170 --> 00:32:30,880 Suze: the question. 531 00:32:31,010 --> 00:32:31,569 KT: How would you answer? 532 00:32:31,569 --> 00:32:37,000 Suze: More than all the molecules and atoms in the world? 533 00:32:37,290 --> 00:32:39,250 KT: Yeah, but this is a money show. 534 00:32:40,300 --> 00:32:41,459 Suze: How unromantic. 535 00:32:42,579 --> 00:32:42,729 KT: Not a science show. 536 00:32:45,780 --> 00:32:49,790 KT: All right, we'll see how unromantic I am tomorrow, everybody. 537 00:32:51,189 --> 00:32:52,349 Suze: Do you have something planned? 538 00:32:52,469 --> 00:32:53,339 KT: Yes. 539 00:32:53,670 --> 00:32:54,260 Suze: You do? 540 00:32:54,390 --> 00:32:55,180 KT: Yes. 541 00:32:55,670 --> 00:32:56,099 Suze: Really? 542 00:32:56,229 --> 00:32:58,790 KT: Yes, you'll have to wait and see. 543 00:32:58,869 --> 00:32:59,579 Suze: Do I? 544 00:32:59,949 --> 00:33:00,380 KT: No. 545 00:33:00,560 --> 00:33:01,189 Suze: How do you know? 546 00:33:01,390 --> 00:33:02,979 KT: Because you just never do. 547 00:33:03,109 --> 00:33:04,599 Suze: I write you the most exquisite... 548 00:33:04,599 --> 00:33:09,030 KT: That's different, but that's not something planned like something we're 549 00:33:09,030 --> 00:33:09,660 KT: gonna do. 550 00:33:10,459 --> 00:33:13,619 KT: Anyway, tomorrow's Valentine's Day, everybody, so 551 00:33:13,619 --> 00:33:13,859 Suze: have 552 00:33:13,859 --> 00:33:14,300 KT: a sweet one! 553 00:33:14,300 --> 00:33:17,300 Suze: And there's only one thing that we want you to remember, 554 00:33:17,380 --> 00:33:18,390 Suze: and it's this 555 00:33:18,390 --> 00:33:19,339 KT: people first, 556 00:33:19,500 --> 00:33:20,250 Suze: then money, 557 00:33:20,380 --> 00:33:21,020 KT: then things. 558 00:33:21,140 --> 00:33:24,609 Suze: Now you stay safe. See you soon. Bye bye.