1 00:00:45,430 --> 00:00:47,060 Suze: March what, KT? 2 00:00:47,939 --> 00:00:49,330 KT: March 28th, 2024. 3 00:00:51,430 --> 00:00:54,680 Suze: Welcome everybody to the Women and Money podcast as well as 4 00:00:55,200 --> 00:00:56,900 KT: Everyone smart enough to listen. 5 00:00:56,950 --> 00:00:59,340 Suze: What is today's KT? 6 00:00:59,444 --> 00:01:01,705 KT: Ask Suze Anything podcast. 7 00:01:01,715 --> 00:01:04,084 Suze: You are on it today! 8 00:01:04,095 --> 00:01:04,705 KT: Yes, ma'am. 9 00:01:04,714 --> 00:01:07,504 Suze: So this is where all of you have a chance 10 00:01:07,514 --> 00:01:11,855 Suze: to write in a question, send it to ask Suze 11 00:01:11,864 --> 00:01:18,184 Suze: S-u-z-e Podcast at gmail.com and if KT chooses it, we 12 00:01:18,194 --> 00:01:22,105 Suze: will answer it on this podcast and you never know 13 00:01:22,114 --> 00:01:24,944 Suze: when I will answer you personally, 14 00:01:25,169 --> 00:01:26,330 Suze: which I have done 15 00:01:26,349 --> 00:01:30,929 KT: A lot lately. She's lately, you're spending a lot of 16 00:01:30,940 --> 00:01:36,769 KT: time writing back and forth to much needed um listeners. 17 00:01:37,349 --> 00:01:42,230 Suze: The people, KT, that I tend to really write back, their spouses died. 18 00:01:42,239 --> 00:01:45,709 Suze: They just got a divorce, their kids are sick. Some 19 00:01:46,019 --> 00:01:50,349 Suze: trouble happened that really, they're sad. 20 00:01:50,360 --> 00:01:51,029 KT: Trauma. 21 00:01:51,419 --> 00:01:53,419 Suze: They've been traumatized somehow. And 22 00:01:53,690 --> 00:01:57,129 Suze: so I try to help them as much as I can. 23 00:01:57,660 --> 00:01:58,430 Suze: All right, girfriend. 24 00:01:59,389 --> 00:02:04,029 KT: Ok. Here's a good one. Christine. Hi, KT and Suze. 25 00:02:04,040 --> 00:02:07,510 KT: I love listening to your podcast and I'm learning so much. 26 00:02:07,839 --> 00:02:11,809 KT: I feel confident at this point in my own money choices. 27 00:02:11,990 --> 00:02:12,789 KT: But I don't know 28 00:02:12,875 --> 00:02:16,654 KT: how to advise my daughter. She is 20 years old, 29 00:02:16,663 --> 00:02:20,615 KT: graduating in May with a bachelor's degree as she begins 30 00:02:20,625 --> 00:02:24,455 KT: her career. Where should she invest her money when her 31 00:02:24,464 --> 00:02:28,554 KT: goals are to buy a house and someday start a family? Now, 32 00:02:28,565 --> 00:02:32,845 KT: listen to this, Christine said my advice to start a 33 00:02:32,854 --> 00:02:36,335 KT: Roth IRA isn't very good advice, 34 00:02:37,779 --> 00:02:41,100 KT: Suze. Thank you for any help you can provide. Where 35 00:02:41,110 --> 00:02:42,410 KT: did she get that from? 36 00:02:42,479 --> 00:02:46,729 Suze: I don't know. So here Christine is what you need to understand. 37 00:02:47,919 --> 00:02:52,020 Suze: I hear you asking me about your daughter who is 38 00:02:52,029 --> 00:02:55,720 Suze: 20 years old graduating in May has lots of time 39 00:02:55,729 --> 00:02:57,979 Suze: to make mistakes and figure out what to do with 40 00:02:57,990 --> 00:02:58,740 Suze: her own money. 41 00:02:59,350 --> 00:03:02,570 Suze: You did not write me and ask me about yourself, 42 00:03:02,910 --> 00:03:06,649 Suze: what you're doing with your money, how you should be investing. 43 00:03:06,660 --> 00:03:09,729 Suze: And the reason that I say that is if you 44 00:03:09,740 --> 00:03:15,369 Suze: think advising your daughter to start a Roth IRA isn't 45 00:03:15,380 --> 00:03:20,009 Suze: very good advice, then I'm concerned about the advice that 46 00:03:20,020 --> 00:03:23,089 Suze: you're giving yourself. And the reason is 47 00:03:23,292 --> 00:03:27,701 Suze: that's fabulous advice. Remember with the Roth IRA, any money 48 00:03:27,712 --> 00:03:31,042 Suze: you put in, you can take out at any time 49 00:03:31,052 --> 00:03:35,572 Suze: without taxes or penalties, regardless of age or how long 50 00:03:35,582 --> 00:03:38,781 Suze: it's been in there and given that you can only 51 00:03:38,792 --> 00:03:42,682 Suze: put in X amount of money every single year, the 52 00:03:42,692 --> 00:03:46,921 Suze: more you get into a Roth IRA, the better off 53 00:03:47,014 --> 00:03:50,014 Suze: you are in the long run, just have her keep 54 00:03:50,024 --> 00:03:52,593 Suze: it in a money market account. Use it as an 55 00:03:52,604 --> 00:03:55,944 Suze: emergency fund. If she needs it. Once she has more 56 00:03:55,953 --> 00:03:59,354 Suze: and more money, you can go from there. But it 57 00:03:59,363 --> 00:04:02,833 Suze: concerns me that if you think that isn't good advice, 58 00:04:02,884 --> 00:04:04,914 Suze: what advice are you giving yourself? 59 00:04:05,914 --> 00:04:10,473 KT: It was good advice. Christine. All right, Cheryl asks 60 00:04:11,516 --> 00:04:17,635 KT: if a person comes into $150,000 where should it be 61 00:04:17,645 --> 00:04:21,716 KT: placed in order for it to grow for retirement? 62 00:04:21,815 --> 00:04:23,246 Suze: I love that you picked this one. 63 00:04:23,726 --> 00:04:25,835 KT: Yes, this is an open question. 64 00:04:26,476 --> 00:04:31,804 Suze: Dangerous because KT has learned this, Cheryl and everybody else 65 00:04:31,815 --> 00:04:34,506 Suze: listening to me right now, 66 00:04:35,220 --> 00:04:40,268 Suze: let's say it wasn't me that you're writing into, let's 67 00:04:40,279 --> 00:04:44,920 Suze: say you just came in to $150,000 and you walk 68 00:04:44,928 --> 00:04:49,149 Suze: in to some financial advisor's office that maybe a friend 69 00:04:49,160 --> 00:04:52,880 Suze: told you about or however you got there, you walk 70 00:04:52,890 --> 00:04:53,339 Suze: in 71 00:04:53,720 --> 00:04:55,980 Suze: and the person says to you, what can I do 72 00:04:55,988 --> 00:05:01,220 Suze: for you? And you say I have $150,000. How should 73 00:05:01,230 --> 00:05:05,339 Suze: I invest it obviously to grow for retirement or whatever 74 00:05:05,350 --> 00:05:06,579 Suze: the reason may be? 75 00:05:07,410 --> 00:05:13,390 Suze: And they tell you immediately. Oh, great. You have $150,000. 76 00:05:13,399 --> 00:05:16,019 Suze: You should buy this. You should buy that. You should 77 00:05:16,029 --> 00:05:18,769 Suze: do an annuity, you should do this, you should do 78 00:05:18,779 --> 00:05:24,220 Suze: that all things that probably will make that advisor a 79 00:05:24,238 --> 00:05:26,869 Suze: lot of money in commission. 80 00:05:27,619 --> 00:05:33,119 Suze: You are setting yourself up to really possibly be taken 81 00:05:33,130 --> 00:05:37,760 Suze: advantage of. That's never a question that you ask 82 00:05:38,329 --> 00:05:43,149 Suze: without also saying. All right, I've just come into money. 83 00:05:43,160 --> 00:05:48,299 Suze: I have $150,000. You needed to tell me, Cheryl number one. 84 00:05:48,309 --> 00:05:52,428 Suze: How old are you? Do you have any debt? Are 85 00:05:52,440 --> 00:05:55,809 Suze: you healthy? Do you own a home? Do you have 86 00:05:55,820 --> 00:05:58,690 Suze: a mortgage on that home? What is the interest rate 87 00:05:58,700 --> 00:05:59,909 Suze: on that mortgage? 88 00:06:00,359 --> 00:06:03,339 Suze: Is your job secure? Do you have a will? Do 89 00:06:03,350 --> 00:06:05,399 Suze: you have a trust? Do you need a new car? 90 00:06:05,410 --> 00:06:08,839 Suze: Do you have any car loan debt without really telling 91 00:06:08,850 --> 00:06:13,768 Suze: me at least 20 or 30 things about you? So 92 00:06:13,779 --> 00:06:17,070 Suze: I could say to you. Oh, you're in your sixties 93 00:06:17,079 --> 00:06:20,339 Suze: right now and you still have $150,000 mortgage on your 94 00:06:20,350 --> 00:06:22,619 Suze: home that you're gonna keep forever 95 00:06:22,910 --> 00:06:26,428 Suze: Since you just came into this money, let's possibly pay 96 00:06:26,440 --> 00:06:29,738 Suze: off the mortgage on that home. Oh, you have $30,000 97 00:06:29,750 --> 00:06:32,630 Suze: of credit card debt? Oh, let's pay off the credit 98 00:06:32,640 --> 00:06:35,100 Suze: card debt. Oh, you need a new car, whatever it 99 00:06:35,109 --> 00:06:35,890 Suze: may be 100 00:06:36,250 --> 00:06:44,350 Suze: but never just ask anybody what should I do with $150,000. 101 00:06:44,359 --> 00:06:45,829 Suze: Next question, KT. 102 00:06:46,480 --> 00:06:50,630 KT: Ok, Dear Suze and KT. I am aware of your thoughts 103 00:06:50,640 --> 00:06:54,500 KT: about buying and leasing new cars and Suze I 104 00:06:54,619 --> 00:06:57,970 KT: you're not a fan with that said, do you have 105 00:06:57,980 --> 00:07:02,049 KT: any advice for anyone who would prefer a new car? 106 00:07:02,100 --> 00:07:04,719 KT: I have a long commute to work and would feel 107 00:07:04,730 --> 00:07:08,859 KT: more comfortable in a newer car. I'm currently driving a 108 00:07:08,869 --> 00:07:12,880 KT: 13 year old Subaru Outback. That's a good car. 109 00:07:13,209 --> 00:07:16,540 KT: And maintenance costs are high. Many thanks. 110 00:07:18,519 --> 00:07:21,730 Suze: So, here's what I would tell you. If you can afford 111 00:07:21,739 --> 00:07:25,269 Suze: a new car, you can write a check for it. 112 00:07:25,489 --> 00:07:28,670 Suze: Or even if you finance it, you can finance it 113 00:07:28,679 --> 00:07:30,739 Suze: over the max a three 114 00:07:30,859 --> 00:07:33,959 Suze: year period of time. I don't have a problem with 115 00:07:33,970 --> 00:07:37,529 Suze: you buying a brand new car, a Subaru, right? Our 116 00:07:37,540 --> 00:07:41,220 Suze: car as you know, is 12 years old. And eventually 117 00:07:41,230 --> 00:07:44,619 Suze: we too will have to buy a car and I will, 118 00:07:44,630 --> 00:07:48,399 Suze: with KT, we will buy a brand new car, 119 00:07:49,130 --> 00:07:51,369 Suze: right? Because we just will, why not? 120 00:07:51,380 --> 00:07:52,029 KT: Because we can. 121 00:07:52,040 --> 00:07:54,790 Suze: And we can and we will write a check for it. 122 00:07:55,130 --> 00:07:58,160 Suze: And so that's how it will be. So if you 123 00:07:58,170 --> 00:08:01,619 Suze: can do that as well, girlfriend, I don't have a 124 00:08:01,630 --> 00:08:06,750 Suze: problem with that on any level. Also, KT, I understand 125 00:08:07,510 --> 00:08:12,200 Suze: that when you have a long commute to work, especially 126 00:08:12,209 --> 00:08:16,209 Suze: if you're a woman, it can be really insecure like 127 00:08:16,220 --> 00:08:18,769 Suze: you don't know if you buy a new car for yourself, 128 00:08:18,779 --> 00:08:22,230 Suze: but one that's used. Is it good? Was it an accident? 129 00:08:22,239 --> 00:08:24,850 Suze: What kind of research did you do on it before 130 00:08:24,859 --> 00:08:28,609 Suze: you actually bought it? So if the goal of money 131 00:08:28,619 --> 00:08:32,049 Suze: is to make you feel secure and you can afford 132 00:08:32,059 --> 00:08:35,989 Suze: it and you feel more secure in a brand new car, 133 00:08:36,369 --> 00:08:40,549 Suze: then you're using what the goal of money is for. 134 00:08:41,190 --> 00:08:45,289 KT: Hi, Suze. I have a quick question. How do I 135 00:08:45,299 --> 00:08:49,049 KT: pick a financial planner? With your help, I think I've 136 00:08:49,059 --> 00:08:52,320 KT: done pretty good with my finances and my retirement planning, 137 00:08:52,330 --> 00:08:56,359 KT: but I feel like I still need somebody face to face, 138 00:08:56,530 --> 00:09:00,210 KT: to look over my numbers and give me confirmation. But 139 00:09:00,219 --> 00:09:04,010 KT: how do I pick somebody local that I can trust? 140 00:09:04,280 --> 00:09:06,849 KT: I sort of feel like I might know more from 141 00:09:06,859 --> 00:09:11,569 KT: listening to you than anybody I just randomly pick here 142 00:09:11,580 --> 00:09:15,199 KT: in my hometown. Do you have any suggestions for what 143 00:09:15,210 --> 00:09:19,520 KT: makes a good financial planner? And how can I know 144 00:09:19,659 --> 00:09:22,210 KT: I can trust them? Thanks for your help. 145 00:09:22,859 --> 00:09:25,500 Suze: The very first thing you would do is never pick 146 00:09:25,510 --> 00:09:27,299 Suze: a financial planner randomly. 147 00:09:27,960 --> 00:09:30,169 Suze: The second thing you would do is never go to 148 00:09:30,179 --> 00:09:34,960 Suze: a dinner or some event that you've been invited to 149 00:09:35,070 --> 00:09:39,510 Suze: and then use that financial planner. Third. You want a 150 00:09:39,520 --> 00:09:43,689 Suze: financial planner or advisor who has been in the business 151 00:09:43,700 --> 00:09:47,468 Suze: at least 10 15 or 20 years, 152 00:09:47,914 --> 00:09:50,554 Suze: not somebody who has just done this for the past year, 153 00:09:50,565 --> 00:09:55,094 Suze: 2 3 4 or five. And why is that? You want an 154 00:09:55,104 --> 00:10:02,215 Suze: advisor who has been in up markets, down markets, sideway markets, recessions, depressions, 155 00:10:02,224 --> 00:10:05,974 Suze: all of it, high interest rates, low interest rates and 156 00:10:05,984 --> 00:10:07,694 Suze: they've seen it all. 157 00:10:08,210 --> 00:10:11,200 Suze: They need to have done this for a long period 158 00:10:11,210 --> 00:10:15,858 Suze: of time. Next, you want a financial planner that works 159 00:10:15,869 --> 00:10:20,228 Suze: in my opinion, for a major brokerage firm. 160 00:10:21,150 --> 00:10:25,049 Suze: So that if you go and you see this financial planner, 161 00:10:25,059 --> 00:10:28,289 Suze: you then all of a sudden invest with them and 162 00:10:28,299 --> 00:10:33,348 Suze: something goes wrong. You have a major brokerage firm that 163 00:10:33,359 --> 00:10:37,250 Suze: you can come back at to possibly get your money 164 00:10:37,260 --> 00:10:41,789 Suze: back from. If you just have an independent financial advisor, 165 00:10:41,830 --> 00:10:45,880 Suze: they work for themselves. Maybe they deposit the money for 166 00:10:45,890 --> 00:10:47,809 Suze: you in a major firm, 167 00:10:48,200 --> 00:10:51,340 Suze: but they aren't backed by that firm. It's just where 168 00:10:51,349 --> 00:10:53,419 Suze: your money happens to be deposited. 169 00:10:54,090 --> 00:10:56,309 Suze: If all of a sudden, they're not as honest as 170 00:10:56,320 --> 00:11:00,030 Suze: you think they are. You have nobody to come back 171 00:11:00,039 --> 00:11:04,169 Suze: to one day. Maybe you went to their firm, it's 172 00:11:04,179 --> 00:11:07,489 Suze: a little firm on some street and you go there 173 00:11:07,500 --> 00:11:10,150 Suze: to talk to them and it's closed. Now, where do 174 00:11:10,159 --> 00:11:10,780 Suze: you go 175 00:11:11,080 --> 00:11:14,690 Suze: With a major brokerage firm that has offices all throughout 176 00:11:14,700 --> 00:11:20,179 Suze: the United States, you know, that can never happen to you. Next. 177 00:11:20,190 --> 00:11:23,859 Suze: You never make the check that you're depositing with this 178 00:11:23,869 --> 00:11:29,070 Suze: financial advisor out to the financial advisor. You always make 179 00:11:29,080 --> 00:11:33,559 Suze: it out to the brokerage firm, period. Never forget I 180 00:11:33,570 --> 00:11:34,699 Suze: told you that. 181 00:11:35,250 --> 00:11:39,169 Suze: And you find a good financial advisor usually from a 182 00:11:39,179 --> 00:11:44,030 Suze: recommendation from people who know about their money and are 183 00:11:44,039 --> 00:11:44,960 Suze: using them 184 00:11:45,710 --> 00:11:48,090 Suze: when you go to see that financial advisor and this 185 00:11:48,099 --> 00:11:49,929 Suze: is important for all of you, which is why I'm 186 00:11:49,940 --> 00:11:52,169 Suze: going on a little bit longer about this. 187 00:11:52,969 --> 00:11:55,369 Suze: They immediately tell you how they charge 188 00:11:56,150 --> 00:11:59,839 Suze: immediately. You should be looking at their office. Is their 189 00:11:59,849 --> 00:12:05,049 Suze: office a mess? Is there paperwork everywhere? Are they not organized? 190 00:12:05,059 --> 00:12:07,848 Suze: If they're not organized, they're not gonna be organized with 191 00:12:07,859 --> 00:12:10,729 Suze: your money either. Just so you know that. So you 192 00:12:10,739 --> 00:12:15,020 Suze: want to see that. It is absolutely a neat office. 193 00:12:15,039 --> 00:12:16,829 Suze: If you are married, 194 00:12:17,409 --> 00:12:20,580 Suze: you should have a financial advisor that will only see 195 00:12:20,590 --> 00:12:24,679 Suze: you if your spouse is with you as well. If 196 00:12:24,690 --> 00:12:27,579 Suze: they're willing just to see you and not both of you, 197 00:12:27,590 --> 00:12:30,299 Suze: I won't be using them because what you do with 198 00:12:30,309 --> 00:12:34,098 Suze: your money also, your spouse has to be in agreement 199 00:12:34,109 --> 00:12:36,650 Suze: with you and at least needs to be part of 200 00:12:36,659 --> 00:12:42,020 Suze: the planning system there. And when you go to see them, 201 00:12:42,770 --> 00:12:46,709 Suze: they should be asking you a million questions like I 202 00:12:46,719 --> 00:12:50,909 Suze: did just a little bit ago about everything they need 203 00:12:50,919 --> 00:12:54,539 Suze: to know about you. That's a good way to start. 204 00:12:54,549 --> 00:12:56,890 Suze: You know, I think it was in chapter six, I 205 00:12:56,900 --> 00:13:00,109 Suze: could be wrong or step six in the Nine Steps 206 00:13:00,119 --> 00:13:00,229 Suze: to 207 00:13:00,315 --> 00:13:04,575 Suze: Financial Freedom book that I wrote that I give you 208 00:13:04,585 --> 00:13:09,733 Suze: an entire list of questions that a financial advisor should 209 00:13:09,744 --> 00:13:15,104 Suze: ask you and how to find a really good financial advisor. 210 00:13:15,195 --> 00:13:17,335 Suze: You could always go to the library and take that 211 00:13:17,344 --> 00:13:19,684 Suze: out and finally 212 00:13:20,130 --> 00:13:23,039 Suze: you might want to, if all you want is somebody 213 00:13:23,049 --> 00:13:26,909 Suze: to check everything that you have and make sure that 214 00:13:26,919 --> 00:13:29,580 Suze: it's in order you might want to look for a 215 00:13:29,590 --> 00:13:35,689 Suze: certified financial planner. The initials are CFP. I personally have 216 00:13:35,700 --> 00:13:42,299 Suze: been one since 1986 I believe. And it's a course 217 00:13:42,309 --> 00:13:44,809 Suze: that you have to take. That's over two years, 218 00:13:45,239 --> 00:13:49,729 Suze: an extensive course with extensive exams that they educate you 219 00:13:49,739 --> 00:13:54,909 Suze: in taxes, estate planning insurance, everything that you would want 220 00:13:55,039 --> 00:13:59,598 Suze: a financial advisor to know about. So if you just 221 00:13:59,609 --> 00:14:04,380 Suze: don't want a stock picker or something like that, look 222 00:14:04,390 --> 00:14:10,179 Suze: for a certified financial planner, that's probably what you need. 223 00:14:10,659 --> 00:14:16,049 Suze: Remember also advisors either work on commission or they are 224 00:14:16,059 --> 00:14:19,880 Suze: fee based. I would only use a fee based financial 225 00:14:19,890 --> 00:14:23,440 Suze: advisor and I would never let that fee be more 226 00:14:23,450 --> 00:14:26,429 Suze: than one per cent. All right, KT. 227 00:14:26,590 --> 00:14:31,219 KT: Next question is from Jenny. Dear KT and Suze. If 228 00:14:31,229 --> 00:14:35,260 KT: I am over 59.5 and I have semi-retired by going 229 00:14:35,270 --> 00:14:36,750 KT: to a part time job. 230 00:14:37,109 --> 00:14:41,280 KT: I don't plan to start social security until 70. Is 231 00:14:41,289 --> 00:14:46,539 KT: it ok to withdraw 10,000 this year from my traditional 232 00:14:46,549 --> 00:14:52,409 KT: IRA and make the $8000 contribution to my Roth IRA. 233 00:14:53,190 --> 00:14:54,979 Suze: So if I get this right, Jenny, 234 00:14:55,650 --> 00:15:02,270 Suze: right, you want to take $10,000 out of your traditional IRA, 235 00:15:02,280 --> 00:15:05,710 Suze: you want to withdraw it. So you pay taxes on it, 236 00:15:05,880 --> 00:15:12,710 Suze: then you want to take $8000 of that $10,000 and 237 00:15:12,719 --> 00:15:15,750 Suze: contribute it to your Roth IRA. 238 00:15:17,179 --> 00:15:19,719 Suze: You would be far better off to tell you the 239 00:15:19,729 --> 00:15:23,309 Suze: truth if you have the money to do that, why 240 00:15:23,320 --> 00:15:30,880 Suze: don't you just convert $10,000 from your traditional IRA to 241 00:15:30,890 --> 00:15:32,909 Suze: your Roth IRA? 242 00:15:33,340 --> 00:15:38,229 Suze: That way you get all $10,000 in your Roth IRA. 243 00:15:38,390 --> 00:15:41,520 Suze: That's what I would be doing if I were. You 244 00:15:41,530 --> 00:15:45,489 Suze: forget this thing about withdrawing it, paying taxes on 10,000 245 00:15:45,520 --> 00:15:50,140 Suze: and only putting $8000 in your Roth. That makes no sense, 246 00:15:50,270 --> 00:15:54,479 Suze: just convert it. And if you don't have the money 247 00:15:54,900 --> 00:15:58,760 Suze: to pay the taxes on the $10,000 conversion. 248 00:15:59,030 --> 00:16:01,780 Suze: And that's why you were doing it the other way. 249 00:16:01,969 --> 00:16:04,890 Suze: I wouldn't be doing it at all. All right. 250 00:16:04,900 --> 00:16:09,049 KT: Next question from Linda and Linda, I have to say 251 00:16:09,059 --> 00:16:13,130 KT: I picked this one because her subject "was to renovate 252 00:16:13,140 --> 00:16:16,469 KT: or close my eyes." I love that. And I have 253 00:16:16,479 --> 00:16:19,799 KT: to tell you you're not alone. My own sister's going 254 00:16:19,809 --> 00:16:21,510 KT: through the same big dilemma. 255 00:16:21,809 --> 00:16:24,729 KT: So I hope you can help me with an argument 256 00:16:24,739 --> 00:16:28,390 KT: I'm having with my inner self. I am planning to 257 00:16:28,400 --> 00:16:32,109 KT: renovate the two bathrooms in our home, which we have 258 00:16:32,119 --> 00:16:36,270 KT: lived in for 30 years. The bathrooms have not been 259 00:16:36,280 --> 00:16:40,710 KT: touched for more than updating a few faucets while functional. 260 00:16:40,719 --> 00:16:43,150 KT: They are hopelessly outdated. 261 00:16:43,489 --> 00:16:46,390 KT: Then she said, Suze, I've been pushing my husband to 262 00:16:46,400 --> 00:16:51,020 KT: think about selling and downsizing, but I seriously doubt that 263 00:16:51,030 --> 00:16:56,469 KT: will happen unless it's absolutely necessary or maybe never, we 264 00:16:56,479 --> 00:17:00,710 KT: can afford the renovation. I'm hoping to spend about 30 265 00:17:00,719 --> 00:17:03,030 KT: to 35,000 total. 266 00:17:03,690 --> 00:17:05,189 KT: Remember the word? Hope. 267 00:17:08,229 --> 00:17:11,030 Suze: I was just gonna say, are you kidding me? If 268 00:17:11,040 --> 00:17:14,448 Suze: you're hoping this is what happened to Lynn, KT's... 269 00:17:14,530 --> 00:17:17,550 Suze: sister, she was hoping to spend, I think it was 270 00:17:17,560 --> 00:17:19,660 Suze: $28,000 or something 271 00:17:19,680 --> 00:17:20,978 KT: All like her quotes came in double 272 00:17:21,859 --> 00:17:22,180 Suze: and she 273 00:17:22,189 --> 00:17:25,079 Suze: still has 70 some odd 1000. Da da da I, 274 00:17:25,180 --> 00:17:30,930 Suze: KT and I have built five homes. We have renovated 275 00:17:31,089 --> 00:17:34,698 Suze: at least two. Right. KT as well. We don't have 276 00:17:34,709 --> 00:17:38,729 Suze: them anymore. That was during our working years. Right. And 277 00:17:39,640 --> 00:17:43,349 Suze: never ever have. We had... 278 00:17:43,359 --> 00:17:45,089 KT: even close to 279 00:17:45,099 --> 00:17:50,160 Suze: budget a project coming in on budget and on time. Oh 280 00:17:50,170 --> 00:17:51,229 Suze: my God. Are you kidding? 281 00:17:51,439 --> 00:17:55,419 KT: Think about doing my sister just wants to do one little bathroom, 282 00:17:55,430 --> 00:17:57,989 KT: but this is two bathrooms. Probably the only two in 283 00:17:58,000 --> 00:18:01,390 KT: her house. Think about not coming in on time. 284 00:18:01,400 --> 00:18:04,229 Suze: How do you do two bathrooms for $35,000? 285 00:18:04,479 --> 00:18:06,430 KT: Wait, let me, let me finish. We don't know where 286 00:18:06,439 --> 00:18:08,099 KT: she lives. Maybe it's possible. 287 00:18:08,380 --> 00:18:11,800 KT: So she said I'm not sure I would get the 288 00:18:11,810 --> 00:18:15,810 KT: added value back if we did sell our home would 289 00:18:15,819 --> 00:18:20,709 KT: probably sell for about 250,000 and Susie, it is paid off. 290 00:18:20,949 --> 00:18:24,160 KT: So do I give myself nice bathrooms I can enjoy 291 00:18:24,170 --> 00:18:27,349 KT: for a few years at least? Or is it a 292 00:18:27,359 --> 00:18:28,719 KT: waste of money? 293 00:18:29,520 --> 00:18:31,329 KT: Now, what's your answer to that? 294 00:18:31,640 --> 00:18:35,449 Suze: So she has a home that's worth 285,000. So she's 295 00:18:35,459 --> 00:18:38,459 Suze: going to spend almost 14% of the value of her 296 00:18:38,469 --> 00:18:45,399 Suze: home to renovate two bathrooms. But here's what really caught 297 00:18:45,410 --> 00:18:47,869 Suze: me about this email. Do you know? 298 00:18:49,790 --> 00:18:56,250 Suze: Pushng. She has been pushing her husband to downsize and 299 00:18:56,260 --> 00:19:01,639 Suze: possibly move and sell. So the only reason my dear 300 00:19:01,650 --> 00:19:05,489 Suze: Linda that you are staying is your husband is not 301 00:19:05,500 --> 00:19:10,708 Suze: on board with what you want to do. Number one. 302 00:19:10,719 --> 00:19:16,209 Suze: So personally, I think the true renovation here 303 00:19:16,810 --> 00:19:19,910 Suze: is you need to renovate how your husband is thinking 304 00:19:19,920 --> 00:19:24,469 Suze: about this, that you already said that this house is 305 00:19:24,479 --> 00:19:30,189 Suze: not terribly senior friendly that you are in your mid 306 00:19:30,199 --> 00:19:33,829 Suze: sixties girlfriend. I'm telling you 307 00:19:34,479 --> 00:19:38,689 Suze: the bodies honestly change. I hate that. I'm saying this 308 00:19:38,699 --> 00:19:40,479 Suze: but they do right, KT? 309 00:19:41,750 --> 00:19:43,349 KT: It's harder for us whether you want them to or not. 310 00:19:44,750 --> 00:19:50,010 Suze: They do and the time to downsize the time to 311 00:19:50,020 --> 00:19:56,718 Suze: really renovate your financial future is now and that if 312 00:19:56,729 --> 00:19:59,459 Suze: it's not senior friendly, 313 00:20:00,280 --> 00:20:03,839 Suze: then anything can happen at any time. You can break 314 00:20:03,849 --> 00:20:06,930 Suze: your leg, you can need a hip replacement, you can 315 00:20:06,939 --> 00:20:12,359 Suze: be anything can happen. So now is when you take 316 00:20:12,369 --> 00:20:13,219 Suze: that money 317 00:20:13,640 --> 00:20:16,750 Suze: and you sell and what do you do with it? 318 00:20:16,869 --> 00:20:20,689 Suze: You move to some place that is brand new stairs, 319 00:20:20,790 --> 00:20:25,449 Suze: no stairs, elevator, whatever it may be somebody else doing 320 00:20:25,459 --> 00:20:28,020 Suze: the maintenance. I don't know what it is. But where 321 00:20:28,030 --> 00:20:34,680 Suze: you have two brand new bathrooms, a brand new kitchen 322 00:20:34,739 --> 00:20:35,160 KT: with a bench 323 00:20:35,665 --> 00:20:39,685 Suze: with everything that you need. It's true with the bench. 324 00:20:39,775 --> 00:20:40,364 KT: Wait, let me 325 00:20:40,375 --> 00:20:43,244 KT: tell them a story. So, Suze and I both watched 326 00:20:43,255 --> 00:20:47,125 KT: our mothers decline and end up in wheelchairs and then 327 00:20:47,135 --> 00:20:50,525 KT: end up bedridden until they passed. And we looked at 328 00:20:50,535 --> 00:20:53,244 KT: each other when we were building this, you know, dream 329 00:20:53,255 --> 00:20:56,294 KT: home on an island. God forbid, I mean, we're on 330 00:20:56,305 --> 00:20:58,844 KT: an island very isolated. 331 00:20:59,180 --> 00:21:01,810 KT: We looked at each other and Suze said, KT, one 332 00:21:01,819 --> 00:21:05,459 KT: entrance of this home is not going to have any 333 00:21:05,469 --> 00:21:10,079 KT: stairs or any little ramps or anything. Just an easy 334 00:21:10,089 --> 00:21:13,030 KT: roll in and out. And she used the word roll 335 00:21:13,040 --> 00:21:14,560 KT: in and out in the event 336 00:21:14,880 --> 00:21:17,449 KT: that we had to succumb to a wheelchair 337 00:21:18,099 --> 00:21:22,959 Suze: and every bathroom shower does not have a curb 338 00:21:22,969 --> 00:21:24,139 KT: And big doors 339 00:21:24,150 --> 00:21:28,459 Suze: So you can roll into the shower and there is 340 00:21:28,469 --> 00:21:32,819 Suze: a chair in it and a handle and everything that 341 00:21:32,829 --> 00:21:36,540 Suze: you would want as you get older. Now, here's what's interesting. 342 00:21:37,689 --> 00:21:39,909 Suze: Guess who needed all of that? 343 00:21:40,920 --> 00:21:41,459 Suze: Me, 344 00:21:42,719 --> 00:21:43,729 Suze: me, 345 00:21:43,959 --> 00:21:44,550 KT: She did. 346 00:21:44,560 --> 00:21:47,569 Suze: Right. And so we had to use that for quite 347 00:21:47,579 --> 00:21:50,930 Suze: a while and, you know, even to this day, seriously, 348 00:21:50,939 --> 00:21:53,400 Suze: maybe I'm getting more personal than you want to know 349 00:21:53,410 --> 00:21:57,550 Suze: when I take a shower. I take it sitting down, 350 00:21:58,089 --> 00:22:01,310 Suze: I take it with a handheld and that's how I 351 00:22:01,319 --> 00:22:02,149 Suze: do it 352 00:22:02,500 --> 00:22:05,140 Suze: right. Because I don't want to fall. I don't want 353 00:22:05,150 --> 00:22:08,959 Suze: to slip. I'm still not totally stable. I don't mind 354 00:22:08,969 --> 00:22:14,839 Suze: saying little wobbly, wobbly at times. So it's, I need that. 355 00:22:15,109 --> 00:22:18,819 KT: You know, what else, Linda? When you do move into 356 00:22:18,829 --> 00:22:22,969 KT: something brand new or relatively newer than where you are. 357 00:22:22,979 --> 00:22:26,310 KT: It's fun. It's fun because you're, you're at a point 358 00:22:26,319 --> 00:22:29,310 KT: where you almost feel like it's a honeymoon all over again. 359 00:22:29,319 --> 00:22:31,800 KT: You and your husband can, you know, get rid of 360 00:22:31,810 --> 00:22:34,000 KT: the old and have some new things around you. 361 00:22:34,300 --> 00:22:36,770 Suze: And also with an older home, I'm just gonna say 362 00:22:36,780 --> 00:22:39,030 Suze: that water heater 363 00:22:39,500 --> 00:22:43,520 Suze: refrigerator, new this, new that. So you can do it 364 00:22:43,530 --> 00:22:47,280 Suze: if you want to girlfriend. But as far as I go, 365 00:22:47,290 --> 00:22:51,639 Suze: I don't think so. Convince your husband, let him hear this. 366 00:22:51,650 --> 00:22:55,879 Suze: Come on hubby, let's do some mine renovation and go 367 00:22:55,890 --> 00:22:59,579 Suze: with your wife. I think you'll find out that both 368 00:22:59,589 --> 00:23:02,399 Suze: of us were right. All right, KT. 369 00:23:02,869 --> 00:23:06,170 KT: Ok. So this is from Lisa. I like this one 370 00:23:06,180 --> 00:23:08,800 KT: a lot. It says yay for the trust 371 00:23:09,099 --> 00:23:13,030 KT: and, and she's so right. Hi, Suze, because of you, 372 00:23:13,040 --> 00:23:16,689 KT: we put my mother's home in a trust. Thank you, Suze. 373 00:23:16,699 --> 00:23:20,159 KT: As her passing has been smoother than it would have 374 00:23:20,170 --> 00:23:23,949 KT: been if we didn't do that. Now, the decision is 375 00:23:23,959 --> 00:23:26,479 KT: if we should keep the house as a rental, 376 00:23:26,760 --> 00:23:29,849 KT: my brother will get half of the cost base to 377 00:23:29,859 --> 00:23:32,660 KT: the home. So I would need to buy him out 378 00:23:32,670 --> 00:23:36,209 KT: because he isn't interested in renting it. My question is, 379 00:23:36,219 --> 00:23:39,689 KT: should I keep the house or put the inheritance into 380 00:23:39,699 --> 00:23:42,300 KT: the stock market or become a landlord? 381 00:23:42,670 --> 00:23:46,680 KT: The house would cost me about 200,000 that I would 382 00:23:46,689 --> 00:23:50,500 KT: need to give to my brother. I'm 65. I would 383 00:23:50,510 --> 00:23:54,169 KT: like to pay off my house. But the other side 384 00:23:54,180 --> 00:23:57,300 KT: of me is thinking a small cash flow from a 385 00:23:57,310 --> 00:24:00,979 KT: rental would be good if I did cash it out. 386 00:24:01,189 --> 00:24:03,729 KT: I think I should put it into a higher interest 387 00:24:03,739 --> 00:24:05,849 KT: rate investment like a CD. 388 00:24:06,510 --> 00:24:08,959 KT: So she goes on and on and she said both 389 00:24:08,969 --> 00:24:12,530 KT: homes are in Loveland, Colorado as this area has seen 390 00:24:12,540 --> 00:24:13,410 KT: steady growth. 391 00:24:13,469 --> 00:24:16,399 Suze: So the home she lives in and the home that 392 00:24:16,510 --> 00:24:18,649 Suze: she inherited this one's easy. 393 00:24:19,020 --> 00:24:22,349 KT: I know what I would say. Don't be a landlord. 394 00:24:22,619 --> 00:24:25,989 Suze: Don't be a landlord, Lisa, here's the scoop. You want to 395 00:24:26,000 --> 00:24:28,739 Suze: increase your cash flow girlfriend. I'll tell you how you 396 00:24:28,750 --> 00:24:31,209 Suze: increase your cash flow, take the money 397 00:24:31,314 --> 00:24:36,775 Suze: and pay off your mortgage, whatever your mortgage payment is. Well, absolutely. 398 00:24:36,785 --> 00:24:41,694 Suze: Once it's paid off, decrease your expenses and therefore increase 399 00:24:41,704 --> 00:24:45,494 Suze: your cash flow, it also will make it so that 400 00:24:45,505 --> 00:24:50,074 Suze: you are absolutely secure and you own your home outright, 401 00:24:50,165 --> 00:24:54,395 Suze: you have it at a 3.99% interest rate while that 402 00:24:54,405 --> 00:24:55,974 Suze: isn't that high. 403 00:24:56,520 --> 00:25:01,439 Suze: I'm telling you I would not be investing in another property. 404 00:25:01,540 --> 00:25:03,510 Suze: You never know. I don't know if you've ever been 405 00:25:03,520 --> 00:25:07,159 Suze: a landlord or not. We both have and I'm telling 406 00:25:07,170 --> 00:25:09,880 Suze: you things. Think about if you had been a landlord 407 00:25:10,280 --> 00:25:13,819 Suze: and just a few years ago during the pandemic where 408 00:25:13,829 --> 00:25:15,979 Suze: your tenants didn't have to pay 409 00:25:16,410 --> 00:25:19,030 Suze: you. I mean, are you kidding me? No, you're not 410 00:25:19,040 --> 00:25:22,430 Suze: gonna do this, take the money and pay off your mortgage, 411 00:25:22,459 --> 00:25:25,170 Suze: the rest of it, whatever else is left. If you 412 00:25:25,180 --> 00:25:27,670 Suze: wanna put into the markets, if you wanna put into 413 00:25:27,680 --> 00:25:30,929 Suze: high yield CDs, whatever it may be, go for it. 414 00:25:30,939 --> 00:25:33,530 Suze: But no, I would not be buying it outright. All right. 415 00:25:33,540 --> 00:25:34,250 Suze: KT 416 00:25:35,140 --> 00:25:40,380 Suze: You know, it's quizzy time. Now, now our quizzy time this 417 00:25:40,390 --> 00:25:44,010 Suze: time I'm going to maybe start doing 418 00:25:44,369 --> 00:25:47,390 Suze: as quizzys. Can I 419 00:25:48,939 --> 00:25:53,790 KT: I love that. I get to choose approved and denied. 420 00:25:53,800 --> 00:25:55,290 KT: I get to be the approved and denied? 421 00:25:55,920 --> 00:25:59,810 Suze: Maybe you get a a real buzzer. So anyway, 422 00:25:59,819 --> 00:26:00,780 KT: I love this one. 423 00:26:00,810 --> 00:26:02,579 Suze: This one is from Lee. Everybody you're playing along. 424 00:26:04,489 --> 00:26:06,359 KT: Let's all play together. 425 00:26:07,000 --> 00:26:11,589 Suze: So write this down. Alright. Hi KT and Suze. 426 00:26:12,020 --> 00:26:16,400 Suze: I would like your approval to buy my parents a car. 427 00:26:16,949 --> 00:26:21,780 Suze: They currently live with my oldest sister and her husband 428 00:26:21,790 --> 00:26:27,188 Suze: and three small kids. My other sister and her family 429 00:26:27,250 --> 00:26:33,109 Suze: are moving in soon to, for instability in our home country. 430 00:26:33,119 --> 00:26:34,438 Suze: All right. So everybody, 431 00:26:35,089 --> 00:26:39,869 Suze: Lee's parents are living with his older sister and her 432 00:26:39,880 --> 00:26:44,469 Suze: husband and three small kids and now another sister and 433 00:26:44,479 --> 00:26:47,448 Suze: her family are moving in as well. So we're going 434 00:26:47,459 --> 00:26:48,880 Suze: to have one household, 435 00:26:48,890 --> 00:26:50,909 KT: Six adults and how many kids? 436 00:26:51,000 --> 00:26:52,609 Suze: I don't know. At least three, probably... 437 00:26:52,949 --> 00:26:53,989 KT: How many bathrooms? 438 00:26:54,130 --> 00:26:56,550 Suze: I don't know. But a lot. Right. They have been 439 00:26:56,560 --> 00:27:00,550 Suze: working to save up to be able to move out. 440 00:27:01,140 --> 00:27:04,859 Suze: My dad at a grocery store and my mom at 441 00:27:04,869 --> 00:27:09,140 Suze: a schoolhouse, it will take them a long time to 442 00:27:09,150 --> 00:27:11,619 Suze: be able to save enough to move out and to 443 00:27:11,630 --> 00:27:16,410 Suze: buy their own car. I will provide quick facts to 444 00:27:16,420 --> 00:27:19,399 Suze: keep it brief. All right, we all have this situation. 445 00:27:19,930 --> 00:27:25,948 Suze: We have six adults, approximately five kids in one house. 446 00:27:26,579 --> 00:27:31,630 Suze: Mom and dad are working, making very little money at 447 00:27:31,640 --> 00:27:34,919 Suze: a grocery store and a school and a school teacher. 448 00:27:35,060 --> 00:27:39,819 Suze: And now here are the facts. All right. I'm 28 449 00:27:39,829 --> 00:27:44,930 Suze: years old and single. I have a fully funded emergency fund. 450 00:27:44,939 --> 00:27:47,199 Suze: I hope that means Lee, that you have 8 to 451 00:27:47,209 --> 00:27:49,680 Suze: 12 months of expenses. All right. 452 00:27:50,229 --> 00:27:55,409 Suze: Last year I maxed out my Roth IRA and 401k 453 00:27:55,500 --> 00:27:59,629 Suze: and plan to do so again for 2024. At 28 he 454 00:27:59,640 --> 00:28:04,849 Suze: has 155,000 in total. In those accounts, 455 00:28:05,209 --> 00:28:09,159 Suze: I have a savings account outside of the emergency fund 456 00:28:09,280 --> 00:28:17,739 Suze: of $32,000. And I just got a $25,000 raise and 457 00:28:17,750 --> 00:28:26,030 Suze: I'm now making $185,000 and will receive a $10,000 bonus 458 00:28:26,040 --> 00:28:29,550 Suze: next month, 5000 after taxes. 459 00:28:29,900 --> 00:28:33,520 Suze: I would use my bonus to buy a good used 460 00:28:33,530 --> 00:28:39,959 Suze: car and finish paying it off monthly. What do you think? 461 00:28:41,630 --> 00:28:42,699 KT: Approved. 462 00:28:43,060 --> 00:28:44,459 Suze: You thought about it that quickly. 463 00:28:45,619 --> 00:28:50,959 KT: At 28 years old, wait, 28 years old using a bonus. 464 00:28:50,969 --> 00:28:55,680 KT: A bonus is usually unexpected income. It's called a bonus. 465 00:28:55,810 --> 00:28:58,349 KT: You didn't expect you were gonna get it for a 466 00:28:58,359 --> 00:29:00,479 KT: good used car. He said he would... 467 00:29:00,920 --> 00:29:05,589 Suze: One second KT think, think, think everybody think. Did you 468 00:29:05,599 --> 00:29:07,069 Suze: approve or deny them? 469 00:29:07,500 --> 00:29:13,569 Suze: He is gonna receive a $10,000 bonus, but 5000 after taxes, 470 00:29:13,579 --> 00:29:16,689 Suze: that's what it will probably be. And he's gonna use 471 00:29:16,699 --> 00:29:21,170 Suze: his money to buy a good use car 5000 and 472 00:29:21,180 --> 00:29:25,780 Suze: finance it and finish paying it off monthly. He didn't 473 00:29:25,790 --> 00:29:27,569 Suze: tell us for how long. 474 00:29:28,430 --> 00:29:32,250 Suze: can he do that or not? Just approved or denied? 475 00:29:32,260 --> 00:29:32,969 KT: Approved. 476 00:29:33,489 --> 00:29:34,030 Suze: You would approve that? 477 00:29:34,040 --> 00:29:39,319 KT: I would absolutely approve him. Listen to me 28 years old. 478 00:29:39,329 --> 00:29:41,729 Suze: Allright I hear you now, right 479 00:29:43,020 --> 00:29:47,359 Suze: here's Lee, what I would tell you. You're approved, if 480 00:29:47,369 --> 00:29:49,890 Suze: you want to do that. You have the money. Would 481 00:29:49,900 --> 00:29:53,560 Suze: I finance it? No, I would take whatever you have 482 00:29:53,569 --> 00:29:57,510 Suze: outside your emergency fund as well as your bonus after 483 00:29:57,520 --> 00:29:59,680 Suze: taxes and just buy it outright. You don't need to 484 00:29:59,689 --> 00:30:05,400 Suze: finance anything. However, if you are going to do this 485 00:30:05,410 --> 00:30:06,040 Suze: for them, 486 00:30:06,650 --> 00:30:11,589 Suze: you also have to be willing to pay for the insurance, 487 00:30:11,640 --> 00:30:16,189 Suze: the maintenance, the gasoline and where are they going to 488 00:30:16,199 --> 00:30:18,750 Suze: keep it? Number one, number two, 489 00:30:19,359 --> 00:30:24,569 Suze: I would rather see you given the situation that they're 490 00:30:24,579 --> 00:30:25,020 Suze: in 491 00:30:25,959 --> 00:30:29,300 Suze: I would rather see you rent them a studio apartment 492 00:30:29,310 --> 00:30:30,060 Suze: just for them 493 00:30:30,839 --> 00:30:33,540 Suze: more important even than a car 494 00:30:34,260 --> 00:30:39,599 Suze: may be that they have a place to live without 495 00:30:39,609 --> 00:30:43,640 Suze: five kids and six adults at this point in their life. 496 00:30:43,650 --> 00:30:47,859 Suze: So I just ask you to think about that if 497 00:30:47,869 --> 00:30:52,439 Suze: you were going to be paying for monthly expenses for 498 00:30:52,449 --> 00:30:54,800 Suze: the car and everything. 499 00:30:56,270 --> 00:30:59,770 Suze: Is it possible that you could also afford? And I 500 00:30:59,780 --> 00:31:03,219 Suze: want to tell you, Lee, at this point in your life, 501 00:31:03,229 --> 00:31:07,160 Suze: you're still single. You're 28 years of age, you're making 502 00:31:07,189 --> 00:31:12,050 Suze: 100 and $85,000 a year. You have a $10,000 bonus. 503 00:31:12,060 --> 00:31:13,729 Suze: You're doing everything. 504 00:31:14,949 --> 00:31:19,319 Suze: I would either do two things maybe buy a place 505 00:31:19,329 --> 00:31:23,489 Suze: and have them move in with you or rent them 506 00:31:23,500 --> 00:31:29,010 Suze: a studio apartment that you pay for so that they 507 00:31:29,020 --> 00:31:34,109 Suze: can live that life alone and go visit everybody and 508 00:31:34,119 --> 00:31:39,050 Suze: then give them time to do what? Save money. So 509 00:31:39,060 --> 00:31:41,739 Suze: if you want, you could probably do 510 00:31:42,459 --> 00:31:46,880 Suze: both. But I'm giving you Lee a double approved, right? 511 00:31:46,890 --> 00:31:51,060 Suze: Because you, you can, you just can. And the truth 512 00:31:51,069 --> 00:31:54,780 Suze: of the matter is there's no greater thing that you 513 00:31:54,790 --> 00:31:59,359 Suze: will ever do with your money never in your entire 514 00:31:59,369 --> 00:31:59,910 Suze: life 515 00:32:00,339 --> 00:32:09,189 Suze: than doing these two things for your parents fabulously. So, 516 00:32:09,260 --> 00:32:12,630 Suze: especially at 28. 0 my God. That's exactly what I 517 00:32:12,640 --> 00:32:14,000 Suze: would do if I were Lee 518 00:32:14,390 --> 00:32:18,229 Suze: Anyway, until Sunday. There's only one thing that we want 519 00:32:18,239 --> 00:32:20,089 Suze: you to remember when it comes to your money and 520 00:32:20,099 --> 00:32:21,229 Suze: what is it Love of my life? 521 00:32:21,540 --> 00:32:24,390 KT: It's people first then, then money... 522 00:32:24,400 --> 00:32:30,089 Suze: Then things. Now you stay safe and stay unstoppable.