1 00:00:22,000 --> 00:00:23,790 Suze: January 26th. What year is it KT? 2 00:00:25,790 --> 00:00:27,550 KT: 2023 Suze! 3 00:00:27,550 --> 00:00:31,190 Suze: That's my girl. Welcome everybody to the... 4 00:00:31,200 --> 00:00:35,970 KT: Women and Money podcast- Ask Suze and KT Anything. 5 00:00:35,970 --> 00:00:40,110 Suze: There you go. So how excited... 6 00:00:41,060 --> 00:00:44,530 KT: You're busy girl. You are so busy. 7 00:00:44,530 --> 00:00:49,000 Suze: So this morning after this podcast, I'm doing CNN so 8 00:00:49,000 --> 00:00:51,440 Suze: you can tune in and see me there. I'm also 9 00:00:51,440 --> 00:00:54,990 Suze: going to be on Morning Joe with Mika. Later this 10 00:00:54,990 --> 00:00:55,510 Suze: afternoon 11 00:00:55,675 --> 00:01:00,885 Suze: I think I'm pre taping a podcast with Keke Palmer. Yesterday, 12 00:01:00,885 --> 00:01:02,584 Suze: I was on CNBC. 13 00:01:02,735 --> 00:01:04,205 KT: She's busy, busy, busy... 14 00:01:04,205 --> 00:01:08,235 Suze: Busy doing all of these things. But I love how 15 00:01:08,235 --> 00:01:12,935 Suze: much all of you are loving unstoppable. You know, KT, 16 00:01:12,935 --> 00:01:18,405 Suze: somebody wrote in and they said, Suze, KT interrupted you. 17 00:01:18,415 --> 00:01:22,945 Suze: You what else is new everybody? You were about 18 00:01:23,319 --> 00:01:28,919 Suze: right to tell us what Colo said. You know, because Colo said a Porsche? 19 00:01:28,920 --> 00:01:32,860 Suze: Is that... because I was telling him the words to unstoppable. 20 00:01:32,870 --> 00:01:35,720 Suze: And Colo was like a Porsche and I was like, yeah, 21 00:01:35,730 --> 00:01:41,380 Suze: a car, the Porsche and then KT, whatever. Alright. And 22 00:01:41,380 --> 00:01:45,619 Suze: you wanted to know what else did Colo say? So, 23 00:01:45,620 --> 00:01:49,680 Suze: here's what Colo wanted to know. I thought fascinating because 24 00:01:49,680 --> 00:01:53,050 Suze: Colo does listen to every one of these podcasts. 25 00:01:53,340 --> 00:01:56,650 Suze: So he said, so does that mean like I have 26 00:01:56,650 --> 00:01:59,760 Suze: to be powerful. Like a Porsche and I have to 27 00:01:59,760 --> 00:02:02,760 Suze: just go for it. So when I'm afraid to go 28 00:02:02,760 --> 00:02:06,990 Suze: for something, you want me not to stop myself not 29 00:02:07,000 --> 00:02:11,230 Suze: to put the brakes on and just go for it 30 00:02:11,240 --> 00:02:14,380 Suze: and go for it with everything I have and all 31 00:02:14,380 --> 00:02:17,570 Suze: the power I have, like a powerful Porsche? 32 00:02:18,400 --> 00:02:23,209 Suze: And I said, yeah, that's what I think Sia meant by that. 33 00:02:23,220 --> 00:02:27,380 Suze: But Colo it did not mean that you go for it, 34 00:02:27,380 --> 00:02:30,559 Suze: no matter what, as long as you know what you're 35 00:02:30,560 --> 00:02:34,540 Suze: going for is something that's safe, is something that you 36 00:02:34,540 --> 00:02:38,030 Suze: wanted to do is something that you have passion about. 37 00:02:38,040 --> 00:02:40,230 Suze: Something that you're not going to get hurt 38 00:02:40,450 --> 00:02:45,210 Suze: in it, whatever it is, it means you go for 39 00:02:45,210 --> 00:02:48,570 Suze: the things that you want to go for in your life, 40 00:02:48,580 --> 00:02:53,500 Suze: with all the power that you have within you as 41 00:02:53,500 --> 00:02:57,490 Suze: if you are a powerful machine and you can do it. 42 00:02:58,340 --> 00:02:59,270 Suze: And he went, 43 00:02:59,960 --> 00:03:04,000 Suze: oh I'm going to do that. And I said with what? 44 00:03:04,010 --> 00:03:06,950 Suze: And he said with asking you for a raise and 45 00:03:06,950 --> 00:03:09,200 Suze: I won't get out of here right now. 46 00:03:09,210 --> 00:03:14,180 KT: But he's been singing the song, everybody, I, you know 47 00:03:14,180 --> 00:03:16,550 KT: Colo does a lot of landscaping. And 48 00:03:16,820 --> 00:03:20,350 KT: I was coming down the front drive and I heard 49 00:03:20,350 --> 00:03:24,109 KT: him singing unstoppable. It was hysterical. 50 00:03:24,120 --> 00:03:27,650 KT: So let's move on, KT, what do you got for me? 51 00:03:27,650 --> 00:03:31,190 KT: Okay, this is from Diane. Hi KT and Suze, my 52 00:03:31,190 --> 00:03:33,540 KT: husband and I are retirees. 53 00:03:33,615 --> 00:03:37,385 KT: My question for you is if a stock has been 54 00:03:37,385 --> 00:03:41,755 KT: providing dividends in the past and has stopped giving dividends, 55 00:03:41,755 --> 00:03:43,655 KT: do I sell the stock? 56 00:03:43,665 --> 00:03:50,410 Suze: Well, here's the thing, if a stock has stopped giving dividends, 57 00:03:50,960 --> 00:03:55,680 Suze: in most cases, in my opinion, something has gone wrong, 58 00:03:55,680 --> 00:04:00,110 Suze: they don't have enough cash flow or something. So 59 00:04:00,290 --> 00:04:03,550 Suze: you have to ask yourself the question Diane, why did 60 00:04:03,550 --> 00:04:07,380 Suze: you buy the stock? Like I've been talking a lot 61 00:04:07,390 --> 00:04:10,890 Suze: about energy stocks here on the Women and Money podcast, 62 00:04:10,900 --> 00:04:15,570 Suze: but I've told everybody buy it for the dividend, the dividend. 63 00:04:15,580 --> 00:04:18,750 Suze: If they lowered their dividend or they stopped paying the dividend, 64 00:04:18,760 --> 00:04:21,850 Suze: I probably would say to people that's it, It's over. 65 00:04:21,870 --> 00:04:25,710 Suze: If you purchase the stock in order to get a 66 00:04:25,710 --> 00:04:29,390 Suze: dividend and they've stopped paying the dividend, 67 00:04:29,880 --> 00:04:33,420 Suze: I would sell the stock depending on you do you have it in a 68 00:04:33,420 --> 00:04:36,549 Suze: retirement account do owe taxes on it. I would take 69 00:04:36,560 --> 00:04:40,810 Suze: all that into consideration but I don't think it's ever 70 00:04:40,810 --> 00:04:44,960 Suze: a good sign if a stock stops paying a dividend, 71 00:04:44,960 --> 00:04:49,030 Suze: number one and number two given the state of the 72 00:04:49,029 --> 00:04:51,660 Suze: market right now and I'll go into that more on 73 00:04:51,660 --> 00:04:53,940 Suze: Sunday school, Suze School. 74 00:04:54,210 --> 00:04:57,990 Suze: I would only really feel comfortable if I was retiree 75 00:04:58,000 --> 00:05:03,730 Suze: owning stocks that paid a dividend. KT, what do you got? 76 00:05:03,730 --> 00:05:04,330 Suze: What's next? 77 00:05:04,400 --> 00:05:05,970 KT: Ok next is from Pam. 78 00:05:06,290 --> 00:05:10,779 KT: She said Suze, well I have never been so motivated since. 79 00:05:10,779 --> 00:05:15,120 KT: I can remember. I love the new theme song so 80 00:05:15,120 --> 00:05:21,120 KT: much more than the other great choice. You're speaking was incredible. 81 00:05:21,240 --> 00:05:24,390 KT: I just maxed out my new Roth, I opened for 82 00:05:24,390 --> 00:05:25,419 KT: 2023 83 00:05:25,855 --> 00:05:30,075 KT: and bought a six month Treasury. My advisor told me 84 00:05:30,075 --> 00:05:33,935 KT: to open a Roth to make the money tax free. 85 00:05:33,945 --> 00:05:38,025 KT: Buying this Treasury is the opposite of making money. He 86 00:05:38,025 --> 00:05:42,885 KT: has me questioning everything. I was planning to purchase another 87 00:05:42,885 --> 00:05:44,575 KT: one and I just stopped 88 00:05:44,760 --> 00:05:48,540 KT: because I'm just confused. He wanted me to do a 89 00:05:48,540 --> 00:05:52,390 KT: managed brokerage account like I have for the I. R. A. 90 00:05:52,400 --> 00:05:56,180 KT: Thanks for the podcast. It was incredible. Okay. So what 91 00:05:56,180 --> 00:05:56,770 KT: should Pam do? 92 00:05:56,900 --> 00:05:58,440 Suze: So Pam, Listen to me. 93 00:05:59,120 --> 00:06:04,719 Suze: A broker does not make any money whatsoever. Really. If 94 00:06:04,720 --> 00:06:08,339 Suze: in fact you buy a Treasury, it doesn't matter if 95 00:06:08,339 --> 00:06:12,140 Suze: you put a million dollars in it or $1000 in it. 96 00:06:12,700 --> 00:06:19,600 Suze: There's really no commission involved. So most financial advisors make 97 00:06:19,600 --> 00:06:23,779 Suze: their living by managing your money. And when he said 98 00:06:23,779 --> 00:06:27,710 Suze: he wanted you to do a managed brokerage account that 99 00:06:27,710 --> 00:06:31,089 Suze: says he gets a management fee. 100 00:06:31,800 --> 00:06:36,140 Suze: You were on the right path. Now would I only 101 00:06:36,140 --> 00:06:39,680 Suze: be buying at this point a three month treasury because 102 00:06:39,680 --> 00:06:43,780 Suze: you want to make sure that the money matures before June. 103 00:06:43,790 --> 00:06:47,880 Suze: So we see exactly what's going to happen with the 104 00:06:47,880 --> 00:06:48,930 Suze: debt ceiling. 105 00:06:49,310 --> 00:06:53,010 Suze: I do not have a problem with that whatsoever. So 106 00:06:53,010 --> 00:06:56,570 Suze: if I were you, I would just buy another three 107 00:06:56,570 --> 00:07:01,480 Suze: month Treasury. If you want to buy another Treasury. After 108 00:07:01,480 --> 00:07:05,560 Suze: that three month Treasury matures. Just wait a little and 109 00:07:05,560 --> 00:07:10,810 Suze: let's see what happens in June or July with the government. 110 00:07:10,820 --> 00:07:12,470 KT: All right, next question... 111 00:07:12,670 --> 00:07:16,800 KT: this is from Daphne. She said first, she loves your pictures. 112 00:07:16,800 --> 00:07:19,850 KT: So Suze's posting all kinds of things on the wall. 113 00:07:19,860 --> 00:07:22,300 KT: And if you haven't been there, everybody, go check it out. 114 00:07:22,300 --> 00:07:25,600 Suze: And the wall is on. everybody, the Women and Money 115 00:07:25,610 --> 00:07:30,810 Suze: app that you can download at Apple Apps or Google Play. 116 00:07:30,820 --> 00:07:32,010 Suze: And that's where 117 00:07:32,025 --> 00:07:35,585 Suze: I give updates that I don't quite give all the 118 00:07:35,585 --> 00:07:38,895 Suze: time on the podcast. Like just the other day I 119 00:07:38,895 --> 00:07:41,905 Suze: gave an update about the Vicks and all of you 120 00:07:41,905 --> 00:07:44,435 Suze: should know what the Vicks is. If not go back 121 00:07:44,435 --> 00:07:48,385 Suze: and listen to past podcast and what it's indicating right now. 122 00:07:48,395 --> 00:07:51,375 Suze: So you should all be participating in that 123 00:07:51,620 --> 00:07:54,150 Suze: because that's where I do a lot of things that 124 00:07:54,150 --> 00:07:56,440 Suze: I don't do anywhere else. 125 00:07:56,480 --> 00:07:59,820 KT: So then Daphne goes on to say, I followed your 126 00:07:59,820 --> 00:08:04,200 KT: advice with I bonds last year and my husband has 127 00:08:04,200 --> 00:08:07,480 KT: some gifts to start transferring to me for the next 128 00:08:07,480 --> 00:08:13,960 KT: three years each $10,000. My question is I love this question. 129 00:08:13,970 --> 00:08:15,750 KT: When he transfers the 130 00:08:15,766 --> 00:08:19,556 KT: 10,000 gift, what happens to the interested earn? 131 00:08:19,596 --> 00:08:22,746 Suze: It goes right along with you girlfriend. 132 00:08:22,756 --> 00:08:26,066 KT: I think it's funny Daphne said can he only transfer 133 00:08:26,066 --> 00:08:29,446 KT: the 10,000? Right? She wants that interest. 134 00:08:29,446 --> 00:08:36,936 Suze: You can only transfer one $10,000 a year plus the interest that 135 00:08:36,936 --> 00:08:39,900 Suze: it earned. So as long as it's in his name 136 00:08:39,912 --> 00:08:42,641 Suze: where he gifted it to you. But he's keeping it 137 00:08:42,642 --> 00:08:47,042 Suze: in his gift box for you, it continues to earn 138 00:08:47,052 --> 00:08:50,421 Suze: interest and grow and grow and grow. And then when 139 00:08:50,422 --> 00:08:54,872 Suze: he gives it to you, everything transfers over to you. 140 00:08:54,872 --> 00:08:58,222 Suze: The total value of it and just continues now in 141 00:08:58,222 --> 00:09:01,941 Suze: your name. When you redeem it, you're the one who's 142 00:09:01,942 --> 00:09:04,059 Suze: going to have to pay the taxes on it. 143 00:09:04,429 --> 00:09:08,050 KT: Okay. Next question is from Debbie, Suze. Hi Suze. Is 144 00:09:08,050 --> 00:09:12,540 KT: there a way to buy a noncompetitive Treasury bill other 145 00:09:12,540 --> 00:09:13,890 KT: than by auction? 146 00:09:13,900 --> 00:09:16,020 Suze: Yes, you can. 147 00:09:16,080 --> 00:09:19,150 KT: I never get the daily published rate when I buy 148 00:09:19,150 --> 00:09:20,640 KT: them through Fidelity. 149 00:09:20,780 --> 00:09:23,560 Suze: Now, what you can do if you want is all 150 00:09:23,559 --> 00:09:28,050 Suze: Treasury bills, Notes and bonds are sold on the secondary market. 151 00:09:28,280 --> 00:09:31,410 Suze: So at your brokerage firm asked to speak to a 152 00:09:31,410 --> 00:09:34,650 Suze: broker and that you want to buy a Treasury on 153 00:09:34,650 --> 00:09:38,250 Suze: the secondary market. It's just that simple because then you 154 00:09:38,250 --> 00:09:41,340 Suze: know exactly the interest rate that you're going to get. 155 00:09:41,350 --> 00:09:44,530 Suze: It's not up to see what happens during the auction. 156 00:09:44,540 --> 00:09:52,489 Suze: And truthfully I only buy Treasuries on the secondary market. Alright, alright. 157 00:09:54,000 --> 00:09:57,510 KT: This is from Jessica. Hi Suze and KT, my husband and I are starting 158 00:09:57,510 --> 00:10:01,960 KT: to file our taxes as married, filing jointly. But we 159 00:10:01,960 --> 00:10:06,790 KT: found out that we financially make $400 over the threshold 160 00:10:06,800 --> 00:10:09,410 KT: to contribute to our Roth IRAs. 161 00:10:09,570 --> 00:10:12,500 KT: Now we're stumped and confused on what we need to 162 00:10:12,500 --> 00:10:16,679 KT: do with what we have already contributed to our accounts. 163 00:10:16,690 --> 00:10:20,429 KT: We both haven't fully maxed out the accounts, but we're 164 00:10:20,429 --> 00:10:24,580 KT: not sure if that will be penalized for just contributing 165 00:10:24,580 --> 00:10:25,680 KT: to the accounts. 166 00:10:25,690 --> 00:10:29,460 Suze: You know, you actually have until October 15 of the 167 00:10:29,460 --> 00:10:32,690 Suze: following year to withdraw any money that you put into 168 00:10:32,690 --> 00:10:35,250 Suze: a Roth if you do not qualify for it 169 00:10:35,260 --> 00:10:41,750 Suze: income wise. $400 is so close. If in fact you're 170 00:10:41,760 --> 00:10:45,360 Suze: over the limit then you just withdraw whatever it is 171 00:10:45,360 --> 00:10:48,550 Suze: that you put in plus any interest that it earned. 172 00:10:48,550 --> 00:10:51,290 Suze: You'll pay taxes on the interest that it earned. And 173 00:10:51,290 --> 00:10:54,650 Suze: it's just that simple. Right? And in fact the truth 174 00:10:54,650 --> 00:10:56,500 Suze: of the matter is you may not have to pay 175 00:10:56,500 --> 00:10:58,940 Suze: taxes at all because maybe you invested it in a 176 00:10:58,940 --> 00:11:00,940 Suze: stock and the stock went down. 177 00:11:01,090 --> 00:11:03,380 Suze: So if you just then take out that amount of 178 00:11:03,380 --> 00:11:05,600 Suze: money or you'll take out less because you don't have 179 00:11:05,600 --> 00:11:08,110 Suze: it in there anymore and you'll be fine. I would 180 00:11:08,110 --> 00:11:10,930 Suze: not be worrying about it if I were you. 181 00:11:11,690 --> 00:11:14,430 Suze: The other thing Jessica that you could do if you 182 00:11:14,429 --> 00:11:18,250 Suze: want to qualify for the Roth if in fact you're 183 00:11:18,250 --> 00:11:22,990 Suze: working and your company offers you a 401(k) or your 184 00:11:22,990 --> 00:11:27,030 Suze: husband's company offers him a 401(k), You could fund the 185 00:11:27,030 --> 00:11:28,989 Suze: traditional 401(k). 186 00:11:29,190 --> 00:11:33,089 Suze: Get a write off to reduce your income by that 187 00:11:33,090 --> 00:11:36,860 Suze: $400 and then be able to qualify for that Roth. 188 00:11:36,870 --> 00:11:39,820 Suze: So that's something else that you can do as well. 189 00:11:39,990 --> 00:11:43,590 KT: Next question is from Joette It's a nice name, isn't it, Joette. 190 00:11:44,780 --> 00:11:48,530 KT: So morning Suze and KT I missed by one day 191 00:11:48,540 --> 00:11:52,910 KT: getting into Caterpillar stock for the dividend. Is it still 192 00:11:52,910 --> 00:11:57,490 KT: worth it for me to buy Caterpillar anyway without the dividend? 193 00:11:57,500 --> 00:12:01,490 KT: Or does this mean I'm locked out of the dividend 194 00:12:01,490 --> 00:12:05,490 KT: forever going forward? Or am I only locked out for 195 00:12:05,490 --> 00:12:09,090 KT: this pay period? I'm still on my learning curve with 196 00:12:09,100 --> 00:12:10,600 KT: individual stocks. 197 00:12:10,820 --> 00:12:12,960 KT: This is a great question. So I don't know the 198 00:12:12,960 --> 00:12:14,980 KT: answer to this. Should have been my quizzie. 199 00:12:17,730 --> 00:12:22,959 Suze: Ok, Joette, because KT loves your name. Here's the thing. When you buy 200 00:12:22,960 --> 00:12:26,450 Suze: an individual stock that pays a dividend, 201 00:12:26,980 --> 00:12:31,390 Suze: you have to own that stock by a specific date 202 00:12:31,400 --> 00:12:37,020 Suze: to get the dividend for that quarter. Remember stocks pay 203 00:12:37,030 --> 00:12:43,920 Suze: dividends in most cases every three months. So Caterpillar pays 204 00:12:43,929 --> 00:12:46,230 Suze: a dollar 20 a share 205 00:12:46,830 --> 00:12:52,810 Suze: And therefore it pays 30 cents a share every three months. 206 00:12:52,850 --> 00:12:58,660 Suze: Now it's X dividend date was January 18. So you 207 00:12:58,660 --> 00:13:03,250 Suze: obviously missed that date. If you had purchased it prior 208 00:13:03,260 --> 00:13:08,420 Suze: to that date then you would have qualified for the dividend. However, 209 00:13:08,740 --> 00:13:14,330 Suze: normally what happens is that after the dividend date it's 210 00:13:14,330 --> 00:13:19,260 Suze: called the stock is trading X dividend without the dividend. 211 00:13:19,270 --> 00:13:24,050 Suze: And when they pay out a dividend they usually reduce 212 00:13:24,050 --> 00:13:27,510 Suze: the price of the stock by the amount of the dividend. 213 00:13:27,520 --> 00:13:31,860 Suze: So I'm sure on that date, maybe Caterpillar went down 214 00:13:31,870 --> 00:13:36,070 Suze: 30 cents a share that day. Now with Caterpillar 215 00:13:36,460 --> 00:13:39,210 Suze: at the current price of what it's at, which is 216 00:13:39,210 --> 00:13:44,530 Suze: about $258 a share. It's almost at its year high, 217 00:13:44,530 --> 00:13:49,330 Suze: which is 260 a share. Are you buying the stock 218 00:13:49,340 --> 00:13:55,040 Suze: just for the dividend because that's only a 1.86% dividend 219 00:13:55,050 --> 00:13:59,640 Suze: or are you buying the stock for the growth of 220 00:13:59,640 --> 00:14:00,630 Suze: the company? 221 00:14:00,870 --> 00:14:05,179 Suze: And with as little of a yield as 1.86, I 222 00:14:05,179 --> 00:14:08,420 Suze: would hope that you're also buying the stock because you 223 00:14:08,420 --> 00:14:12,190 Suze: think it's a good quality stock that continues to grow. 224 00:14:12,260 --> 00:14:16,250 Suze: So if you were to buy it now, when it 225 00:14:16,250 --> 00:14:20,640 Suze: pays its next dividend probably and around April you will 226 00:14:20,640 --> 00:14:24,170 Suze: get that 30 cents at that time per share or 227 00:14:24,170 --> 00:14:27,160 Suze: whatever the dividend is at that time and for as 228 00:14:27,160 --> 00:14:30,660 Suze: long as you own it every three months from now 229 00:14:31,250 --> 00:14:34,810 Suze: however you have to decide if you're going to buy 230 00:14:34,810 --> 00:14:42,350 Suze: caterpillar or not. That decision is up to you. All right, KT, 231 00:14:42,350 --> 00:14:43,220 Suze: you know what time it is right now? 232 00:14:45,570 --> 00:14:51,190 Suze: Are you going to be  Unstoppable with this quizzie? And everyone else listening, do you 233 00:14:51,190 --> 00:14:53,110 Suze: have a new attitude this year about quizzies? 234 00:14:54,280 --> 00:14:55,940 KT: No. 235 00:14:56,270 --> 00:15:00,300 Suze: Alright everybody. This is where I ask KT a question that 236 00:15:00,300 --> 00:15:04,479 Suze: you wrote in and it's for you as well as 237 00:15:04,480 --> 00:15:08,400 Suze: her because the object of the quizzie is that you 238 00:15:08,400 --> 00:15:10,440 Suze: get to a point in your life where you can 239 00:15:10,450 --> 00:15:13,520 Suze: answer questions on your own. 240 00:15:14,130 --> 00:15:17,650 Suze: This one is from Deanna and I chose it because 241 00:15:17,650 --> 00:15:20,550 Suze: she says quick quizzie. I love that. 242 00:15:20,720 --> 00:15:22,220 KT: Me too. I like that Deanna. 243 00:15:22,230 --> 00:15:24,280 Suze: So Deanna, since you created a quizzie 244 00:15:24,500 --> 00:15:28,340 Suze: I'm gonna do it for you. Okay KT a quick 245 00:15:28,340 --> 00:15:32,020 Suze: quizzie read this fast, think about it faster and give 246 00:15:32,020 --> 00:15:36,580 Suze: me your best answer in record time. Ready go. I 247 00:15:36,580 --> 00:15:39,900 Suze: need a furnace and an A. C. For my condo. 248 00:15:40,280 --> 00:15:46,840 Suze: The need is $13,000. Should I a take it from my Roth? I. R. A. 249 00:15:46,860 --> 00:15:52,380 Suze: I have $70,000 and another 520,000 in a 401(k). And I 250 00:15:52,380 --> 00:15:58,090 Suze: am 61. Should I borrow it at 10.5% for a 251 00:15:58,090 --> 00:16:03,760 Suze: year or two? Or should I borrow from the 401(k). 252 00:16:03,770 --> 00:16:06,410 Suze: I can't figure it out. Can you? 253 00:16:06,860 --> 00:16:07,760 KT: The Roth? 254 00:16:08,630 --> 00:16:09,900 Suze: You didn't even think about it. 255 00:16:09,910 --> 00:16:12,950 KT: You said record time go fast. So those were the 256 00:16:12,950 --> 00:16:18,140 KT: three choices. Roth, 401(k), or a bank loan. 257 00:16:19,040 --> 00:16:22,030 KT: Right Roth. Right. 258 00:16:22,040 --> 00:16:24,930 Suze: Is that what all of you decided you really think 259 00:16:24,930 --> 00:16:28,310 Suze: she should take it from her Roth versus alone from 260 00:16:28,310 --> 00:16:33,820 Suze: a 401(k)? Or borrowing it at 10.5% for a year 261 00:16:33,820 --> 00:16:34,520 Suze: or two? 262 00:16:35,580 --> 00:16:37,120 Suze: Ding ding ding ding ding ding. 263 00:16:37,120 --> 00:16:40,540 KT: That's why Roths are great everybody. Tell them why that's 264 00:16:40,540 --> 00:16:41,890 KT: the advantage. 265 00:16:41,900 --> 00:16:45,230 Suze: So Deanna, the reason that I would tell you to 266 00:16:45,230 --> 00:16:49,720 Suze: take it from a Roth without even knowing everything about 267 00:16:49,730 --> 00:16:54,440 Suze: you is that obviously at the age of 61 you're 268 00:16:54,440 --> 00:16:58,300 Suze: no longer subjected to any of the five year rules 269 00:16:58,300 --> 00:17:01,110 Suze: for the 10% penalty doesn't matter. 270 00:17:01,510 --> 00:17:06,010 Suze: I'm sure that you originally put in more than $13,000 271 00:17:06,010 --> 00:17:08,310 Suze: over all the years that you've had it. So if 272 00:17:08,310 --> 00:17:12,060 Suze: you take out 13,000 you absolutely are not going to 273 00:17:12,060 --> 00:17:14,639 Suze: pay any taxes on it whatsoever. 274 00:17:14,970 --> 00:17:17,480 Suze: And I'm sure no matter what, you wouldn't have had 275 00:17:17,480 --> 00:17:20,340 Suze: to pay any taxes at all if you owned it 276 00:17:20,340 --> 00:17:23,840 Suze: for more than five years. So out of all of 277 00:17:23,840 --> 00:17:27,359 Suze: this I would take it from the Roth IRA it 278 00:17:27,359 --> 00:17:30,590 Suze: is the cheapest thing to do. Number one. Again, I'm 279 00:17:30,590 --> 00:17:34,470 Suze: not liking the stock market necessarily for this quarter and 280 00:17:34,470 --> 00:17:35,869 Suze: maybe next quarter. 281 00:17:36,190 --> 00:17:39,399 Suze: I don't want you to borrow from your 401(k). At all. 282 00:17:39,400 --> 00:17:45,000 Suze: That makes no sense. And 10.5%. I don't think so. 283 00:17:45,010 --> 00:17:49,670 Suze: So that is the answer to your quick quizzie. All right, 284 00:17:49,670 --> 00:17:53,180 Suze: KT, I have to go ready to do tv. I know 285 00:17:53,190 --> 00:17:54,990 Suze: we have a show to do so you know what 286 00:17:54,990 --> 00:17:57,390 Suze: that means? We have to have time to put your 287 00:17:57,390 --> 00:18:00,000 Suze: makeup on. Do you all know that KT... 288 00:18:00,350 --> 00:18:05,010 KT: Actually, I've been doing Suze's makeup for at least 15 289 00:18:05,010 --> 00:18:10,189 KT: years now, maybe more. And I learned from watching incredibly 290 00:18:10,190 --> 00:18:13,510 KT: talented makeup artists, most of them in New york do 291 00:18:13,510 --> 00:18:16,100 KT: her makeup over and over again every day. 292 00:18:16,109 --> 00:18:18,200 Suze: You know what else KT has to do, 293 00:18:19,490 --> 00:18:19,930 Suze: Tell them. 294 00:18:22,090 --> 00:18:26,710 KT: Well, okay, I'll share this with all of you. Suze 295 00:18:26,710 --> 00:18:29,980 KT: wears contacts when she's on tv and I put them 296 00:18:29,990 --> 00:18:31,900 KT: in and out. I put them in her eye and 297 00:18:31,900 --> 00:18:34,270 KT: I take them out of her eye. That's the most 298 00:18:34,270 --> 00:18:37,970 KT: difficult part of getting ready. She can't do it herself. 299 00:18:37,970 --> 00:18:40,919 KT: She's tried over and over again, she's in front of 300 00:18:40,920 --> 00:18:41,310 KT: the mirror, 301 00:18:41,310 --> 00:18:45,420 KT: she went through boxes of contacts trying to do it 302 00:18:45,420 --> 00:18:48,680 KT: and she just, she can't do it. So I do it. 303 00:18:48,690 --> 00:18:51,430 Suze: And I'll tell you just another quick story which is 304 00:18:51,430 --> 00:18:54,050 Suze: so once I had to go to Washington D. C 305 00:18:54,050 --> 00:18:54,950 Suze: to give a talk... 306 00:18:54,960 --> 00:19:00,540 KT: Oh my goodness, I was really, really sick. This was years ago. 307 00:19:00,680 --> 00:19:03,679 Suze: And actually when I got there I had gotten whatever 308 00:19:03,680 --> 00:19:06,220 Suze: she got and I had like this 103 fever but 309 00:19:06,230 --> 00:19:09,970 Suze: we had the flu that was but I couldn't travel with. 310 00:19:10,010 --> 00:19:14,540 Suze: So the makeup artist from CNBC went with me, she 311 00:19:14,540 --> 00:19:17,959 Suze: did my makeup and I said, okay, Laura put in 312 00:19:17,960 --> 00:19:21,389 Suze: my contacts and she said, I can't put in your contacts. 313 00:19:21,400 --> 00:19:24,850 Suze: I said Laura, how am I gonna see? Said I 314 00:19:24,850 --> 00:19:26,750 Suze: said put in my contacts 315 00:19:27,090 --> 00:19:30,179 Suze: and she tried and she tried, I said never mind. 316 00:19:30,190 --> 00:19:32,770 Suze: I put on my glasses and I wore my glasses 317 00:19:32,770 --> 00:19:33,830 Suze: to give that talk. 318 00:19:33,830 --> 00:19:36,340 KT: She poked your eye a million million times. 319 00:19:36,350 --> 00:19:40,930 Suze: But alright everybody, so until Sunday when I am going 320 00:19:40,930 --> 00:19:45,010 Suze: to do a Suze school on God knows what, how 321 00:19:45,010 --> 00:19:48,119 Suze: do we end every podcast now, KT, 322 00:19:48,700 --> 00:19:51,530 Suze: we end it with the saying that all of us 323 00:19:51,530 --> 00:19:56,020 Suze: are to repeat every morning when we wake up and 324 00:19:56,020 --> 00:20:00,899 Suze: it is this today, wherever we go, we will create 325 00:20:00,910 --> 00:20:07,470 Suze: a peaceful, joyful and loving world. Now you stay safe 326 00:20:07,480 --> 00:20:14,669 Suze: and don't ever stop yourself from being who you are. Bye! 327 00:20:14,670 --> 00:20:16,590 Suze: Everybody see you soon.