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Suze: December 5th, 2024. Welcome everyone.

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KT: Happy birthday to you. Happy happy birthday to you. Happy

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KT: to Suze. Happy half, half, half birthday to you. December

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KT: 5th is her half birthday

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KT: which she celebrates more than her birthday on June 5th.

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KT: So happy birthday, Suze.

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Suze: Thank you, my dear KT 73 and a halh. How's that feel? Pretty good?

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Suze: The next one? 74.

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KT: Ok. All right. All right. Let's, let's get on with it. Also,

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KT: my sister's coming today.

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KT: Barbara's coming today.

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Suze: Her little sister and today is Leslie Lynn's full birthday

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Suze: and Leslie is one of my oldest friends from grammar school.

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Suze: I love her so much. I can't tell you happy birthday, Leslie. However,

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Suze: where was I welcome everybody to the Women and Money

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Suze: podcast as well as everybody smart enough to listen today

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Suze: happens to be KT and Suze. Anything.

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Suze: So, all you need to do is send in a

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Suze: question to ask Suze Suze podcast at gmail.com. And if

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Suze: KT picks it, we will answer it on this podcast

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Suze: and you just never know when I will answer it

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Suze: personally directly to you myself.

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KT: I picked a great um selection today because I picked

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KT: all the ones that I didn't know the answers to.

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KT: So everyone I get to. No, I get to learn

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KT: a lot today.

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Suze: Wait, KT. How many of the questions that come in

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Suze: that you look at, you, be honest with me now.

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KT: 50%.

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Suze: Do you know the answer to?

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KT: 50%? About 50% after all these years of listening to you?

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KT: I think I know about 50% soon. I'll be able

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KT: to take over this podcast.

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Suze: I'm sure you will. All right, sweetheart. What do you got?

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KT: First one is sad, but one that I know so

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KT: many people write about. It's from Katina. It's not really sad,

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KT: but it's just true. She said hi, Suze. My mother's

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KT: almost 71 years old and has no burial or life insurance.

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KT: She keeps applying for whole life or modified whole life

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KT: insurance policies. I keep trying to explain to her that

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KT: she's just throwing away her money.

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KT: She won't live long enough for it to pay due

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KT: to her health. So, Susie, what should we be doing

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KT: with her money that would pay the most towards her

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KT: funeral expenses. That will ease her worries.

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Suze: So, Katina, here's what I don't understand you say in

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Suze: this email, she won't live long enough for

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Suze: it to pay due to her health. That makes absolutely

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Suze: no sense because the reasons that she's getting this is

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Suze: that if she dies sooner than later, she has some

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Suze: money to pay for her burial. What you need to

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Suze: do is sit down with her and find out how

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Suze: much money she has.

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Suze: Does she have enough money right now to pay for

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Suze: her funeral expenses? And just simply do a prepaid funeral,

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Suze: just do that so she knows that is covered

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Suze: and therefore she doesn't have to buy insurance anymore to

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Suze: do it. Obviously, she's buying the insurance that she sees

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Suze: on TV, for only $9.99 a month, regardless of your

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Suze: health conditions, you can get this policy and that's what

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Suze: she pays into. So if you don't want her to

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Suze: continue to do that, you have to solve her fear

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Suze: of why she's doing that and look at her money

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Suze: and get a prepaid funeral plan. It's as simple as that. Now,

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Suze: if she doesn't have enough money for a prepaid funeral plan,

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Suze: can you prepay her funeral for her? Do you have

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Suze: enough money. If you don't have enough money for that either?

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Suze: Then I have to tell you maybe these little policies

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Suze: of $30 a month that might pay for her funeral expenses,

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Suze: especially if she is not healthy, might be the way

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Suze: to go, believe it or not. Next KT

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KT: Ok. Next question is from Stephanie dear Suze. I'm so

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KT: excited to finally speak to you.

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Suze: Are we speaking, Steph?

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Suze: How are you girlfriend?

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KT: I hope you have the time to answer my sincere question.

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KT: A few months ago. I finally got brave enough to

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KT: take control of an old 403 B I had from

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KT: a job 20 years ago, I set up a roll

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KT: over 401k account with Vanguard in preparation because that is

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KT: where I have my Roth IRA. Thanks to you.

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KT: Then I called Voya and asked them to do a

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KT: custodian to custodian transfer. They tried to send me the

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KT: money and I said, absolutely not. I don't want it

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KT: sent anywhere other than Vanguard and gave them the address.

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KT: The woman said she understood and a check would be

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KT: sent out. But when she said the amount, it was

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KT: less than what it should be.

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KT: When I questioned her, she said they had to withhold 20%.

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KT: I said, no, I'm not taking the money. I don't

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KT: need taxes withheld.

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KT: So at the end of the day, she said almost

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KT: 8000 was left behind. I asked her what would happen

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KT: to this money and she did not reply, Susie, who

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KT: got it wrong? And how do I get my money

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KT: back under control? Thank you for everything you've taught me.

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Suze: Stephanie. I cannot tell you that the representative at Voya

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Suze: not necessarily Voya itself, but the person working there could

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Suze: not be more wrong if they tried

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Suze: when you do a custodian to custodian transfer, 20% is

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Suze: not withheld if they were to send you directly the

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Suze: check made out to Vanguard, 20% does not have to

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Suze: be withheld. The fact that they held 20%. I'll tell

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Suze: you what happens to that $8000. If you don't take

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Suze: $8000 out of your own money right now

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Suze: and put it into your Vanguard account out of your

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Suze: own money,

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Suze: then what's gonna happen is that $8000 is going to

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Suze: be taxed to you as ordinary income. The only way

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Suze: around that, believe it or not is to take $8000

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Suze: out of your own money right now

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Suze: and make up for it and put it in to

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Suze: the account to make up for that. But that makes

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Suze: absolutely no sense. I would be so aggravated at Voya's representative.

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Suze: I can't tell you,

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Suze: you need to go above this person's head. You need

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Suze: to go to the manager of Voya, you need to

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Suze: go to anybody at Voya and you need to say

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Suze: I want that $8000 that you withheld transferred right now

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Suze: into my Vanguard account right now.

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Suze: You never should have withheld it. You made a mistake

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Suze: and you are 100% wrong. They'll know that they are wrong.

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Suze: It's just this one person does not understand the rules

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Suze: and it's just that simple, but it's very sad. People

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Suze: never ever make that mistake.

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Suze: All right, KT.

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KT: Yeah, that, that's a big mistake.

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Suze: Yeah, but she could take $8000 and put it in

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Suze: and make up the difference there. And then when she

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Suze: got the $8000 refund,

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Suze: it's just a refund to her. But if she doesn't

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Suze: do that, that $8000 will be taxable if she can't

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Suze: fix it through Voya.

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KT: How much time do you have to do that?

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Suze: 60 days from the day that they did the transfers.

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KT: So next question from Shannon dear Susie, my financial advisor

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KT: has recommended a fixed income annuity. I am retired at

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KT: 67 and already getting social security plus a small pension.

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KT: She says income guaranteed for life example, 360,000 into and

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KT: receive 24,000 a year for life. What should I ask

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KT: at our meeting?

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Suze: So Shannon, here's what I want you to do. Your

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Suze: question to me is what should I ask at our meetings?

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Suze: Even before you go into your meeting, you have to decide,

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Suze: do you have any beneficiaries that you want to leave

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Suze: this money to? Do you have children, nieces, nephews? Do

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Suze: you even have like a hospital or any charity that

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Suze: you wanna leave it to? Because guaranteed for life? Great.

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Suze: However, you don't know how long your life is going

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Suze: to go on for. You are only 67 years of age.

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Suze: Hopefully you will live for a long period of time,

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Suze: but you could also die - accident, whatever it is

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Suze: very shortly. So therefore that money will be gone the

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Suze: day that you die. So that's a question. If you

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Suze: don't care

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Suze: if you don't have beneficiaries, all you want is a

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Suze: guaranteed income. Ok? That is a 6.6% return on your money,

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Suze: but that does not take into consideration inflation or anything

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Suze: like that. Is it possible that you could invest that

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Suze: $360,000 and take out $24,000 a year for a long

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Suze: time

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Suze: and probably achieve the exact same thing. Yeah, if you

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Suze: know how to invest in bonds in dividend, paying stocks

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Suze: and things like that and you want to manage your money,

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Suze: you could probably do better than that, believe it or not,

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Suze: and have money to leave to your beneficiaries. But if

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Suze: you just want 24,000 a year coming in for the

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Suze: rest of your life and you don't have to think

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Suze: about it. Ok,

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Suze: I don't have a problem with that. So what should

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Suze: you ask at your meeting? Number one: I just think

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Suze: it's important for you to know

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Suze: how much commission this woman is going to get, if

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Suze: you put $360,000 into this. Next, you also say in this, right?

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Suze: That even though KT didn't mention it that you have

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Suze: another $370,000 invested in equity.

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Suze: What do you have That's just safe and sound. Do

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Suze: you have a 12 month emergency fund? Do you have

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Suze: even more than that? Because if this is all you

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Suze: have and you have 360,000 that you're never gonna be

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Suze: able to touch again. 370,000 already invested in equities

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Suze: that hopefully are generating income for you. And something goes

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Suze: wrong at the time when the market has plummeted. Where

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Suze: is your money? Where's it gonna come from also? So

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Suze: I would just want her to look at your entire situation.

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Suze: Not just

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Suze: Shannon, just let's put this in and you have 24,000

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Suze: a year. Let's look at every aspect of your financial

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Suze: life and you should ask her those things. How does

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Suze: this fit in? What happens if I need more money

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Suze: and you'll find out that. Really? Maybe you wanna do this,

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Suze: maybe you don't wanna do it with $360,000. Maybe you're like,

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Suze: you know what?

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Suze: I'm 67. I'm getting social security. I have a small pension.

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Suze: I'm doing all right. Maybe, maybe I own a mortgage

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Suze: on my house and it's better off paying the mortgage

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Suze: off on my house. There are other things for you

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Suze: to consider.

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Suze: But what should I ask at our meeting? I just

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Suze: gave you an example of a few things that I

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Suze: want you to think about and what that spurs in

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Suze: you that you should ask. All right.

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KT: Ok. Next question, I love this. Next question ready?

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KT: This is from Susan. She said hi, Suze and KT. Thank

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KT: you for all your knowledge within the last two years. Listen,

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KT: everybody within the last two years I was able to

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KT: go from $0 in retirement and investments to close to

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KT: 350,000 today.

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KT: She said, Suze, I wouldn't be here without you. I can't.

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KT: Thank you enough. I have a question about individual brokerage

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KT: account and gains. This is my first year investing into

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KT: individual brokerage accounts. If I sell my stock in Palantir, ready.

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KT: Thanks to your suggestions, Suze, I bought it at $16.

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KT: What is it today?

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Suze: It's around 70 KT.

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KT: Yeah. Ok. So if I sold, do I have to

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KT: pay capital gains? Can I avoid being taxed in any way? So,

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KT: and then she says, thank you so much. That's from Susan.

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Suze: So first, let me set the record straight, Everybody. It

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Suze: was Keith Fitzgerald

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Suze: that recommended Palantir across the board at $7 a share seven.

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Suze: And that's when I started to talk about it and

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Suze: everything even I went on CNBC and I said, everybody,

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Suze: you should buy it and now it's up like three

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Suze: or 400% since then. So hopefully you listened when we

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Suze: first started to talk about it or when Keith first

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Suze: mentioned it. So is there any way if you sell

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00:15:13,510 --> 00:15:18,640
Suze: it to avoid capital gains? No, the real question is

229
00:15:18,900 --> 00:15:20,619
Suze: you really think you should sell it?

230
00:15:21,140 --> 00:15:23,760
Suze: This is like a once in a lifetime kind of

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00:15:23,770 --> 00:15:28,679
Suze: stock that very probably according to Keith will go from

232
00:15:28,690 --> 00:15:34,349
Suze: 70 to 85 up to in the 100 area, will

233
00:15:34,359 --> 00:15:38,039
Suze: it or will it not? I don't know. But Keith

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00:15:38,049 --> 00:15:41,580
Suze: also has a thing of once you have doubled your

235
00:15:41,590 --> 00:15:45,280
Suze: money in your situation, if it went from 16 to

236
00:15:45,289 --> 00:15:50,679
Suze: 32 you should take those shares off the table.

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00:15:51,369 --> 00:15:55,679
Suze: And that is because now everything else that's in there,

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00:15:55,770 --> 00:15:59,929
Suze: it's a free trade. You took the money, you originally

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00:15:59,940 --> 00:16:03,950
Suze: invested off the table and maybe you just hold it

240
00:16:03,960 --> 00:16:07,270
Suze: on the sidelines for a while. And if Palantir goes

241
00:16:07,280 --> 00:16:11,119
Suze: back down, you reinvest it or you take that money

242
00:16:11,130 --> 00:16:15,299
Suze: and you invest it in something else. You could also

243
00:16:15,309 --> 00:16:18,369
Suze: sell half, if it's making you nervous, you don't have

244
00:16:18,380 --> 00:16:20,809
Suze: to be an all or nothing investor.

245
00:16:21,380 --> 00:16:26,770
Suze: I own Palantir. I own a lot of Palantir, KT

246
00:16:26,780 --> 00:16:32,719
Suze: owns a lot of Palantir. We listened to Keith and

247
00:16:32,729 --> 00:16:35,080
Suze: there were many times when it went from 7 to

248
00:16:35,090 --> 00:16:40,479
Suze: 14 to 28 to 30 we were tempted, right? We're

249
00:16:40,489 --> 00:16:44,539
Suze: still holding, I'm going to listen to him about this

250
00:16:44,659 --> 00:16:46,809
Suze: because he chose it for a reason

251
00:16:47,169 --> 00:16:50,049
Suze: and I think it's up to you. But the answer

252
00:16:50,059 --> 00:16:53,710
Suze: to your question is if you sell it, you absolutely

253
00:16:53,719 --> 00:16:57,140
Suze: have to pay capital gains tax on it. All right.

254
00:16:57,349 --> 00:17:01,039
KT: Hi, Suze. And, and this name I said I'm, I'm

255
00:17:01,049 --> 00:17:04,760
KT: gonna use her name because I love the name Ma Angelina.

256
00:17:04,770 --> 00:17:08,260
KT: I think her name, she's the mom and her email

257
00:17:08,270 --> 00:17:10,229
KT: is Ma Angelina.

258
00:17:10,239 --> 00:17:11,030
Suze: Hi, Mama.

259
00:17:12,030 --> 00:17:14,718
KT: I'm 64 years old and I have a special needs

260
00:17:14,729 --> 00:17:19,319
KT: son who's 26. I underwent a divorce a year ago.

261
00:17:19,550 --> 00:17:23,630
KT: I have updated my estate trust and advanced directives with

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00:17:23,640 --> 00:17:28,000
KT: power of attorney. I have a 401k Roth IRA and

263
00:17:28,010 --> 00:17:33,239
KT: an annuity with Equitable. My banker is asking me to

264
00:17:33,250 --> 00:17:39,140
KT: invest in a nationwide variable annuity for my retirement which

265
00:17:39,150 --> 00:17:41,560
KT: will help me with my son's future.

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00:17:41,930 --> 00:17:44,609
KT: I'm not retired yet and would like to in a

267
00:17:44,619 --> 00:17:48,979
KT: year or two. Should I invest 100,000 in a variable

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00:17:48,989 --> 00:17:53,069
KT: annuity ready for this Suze? My net worth is about

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00:17:53,079 --> 00:17:54,790
KT: a million dollars.

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00:17:56,400 --> 00:17:58,290
KT: Ok. She's 64.

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00:17:58,300 --> 00:17:59,109
Suze: Look at my face,

272
00:17:59,699 --> 00:18:01,790
KT: I know I'm not gonna describe,

273
00:18:01,800 --> 00:18:03,780
Suze: Describe my face. Come on,

274
00:18:04,910 --> 00:18:05,739
Suze: Just describe it.

275
00:18:05,959 --> 00:18:10,000
KT: Her face is getting red. It has that expression of like,

276
00:18:10,010 --> 00:18:11,119
KT: are you kidding me?

277
00:18:11,130 --> 00:18:12,550
Suze: Are you kidding me?

278
00:18:12,560 --> 00:18:14,329
KT: All right. So let's tell her what to do.

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00:18:14,339 --> 00:18:19,130
Suze: Mama bear. The very first thing that's important is that

280
00:18:19,140 --> 00:18:24,849
Suze: you have a special needs son, which most likely means

281
00:18:24,869 --> 00:18:30,489
Suze: that he's on SSI social security income. All right. And

282
00:18:30,680 --> 00:18:33,689
Suze: if he inherits money from you

283
00:18:34,050 --> 00:18:38,910
Suze: after you have died, he will be disqualified from SSI

284
00:18:38,920 --> 00:18:43,109
Suze: and good luck ever getting back on it. So your

285
00:18:43,119 --> 00:18:47,329
Suze: main thing that you need to be doing is getting

286
00:18:47,339 --> 00:18:51,310
Suze: a special needs trust. You need to see a lawyer

287
00:18:51,319 --> 00:18:54,420
Suze: set up a special needs trust. So any money you

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00:18:54,430 --> 00:18:58,469
Suze: have goes into the special needs trust that can be

289
00:18:58,479 --> 00:19:01,938
Suze: accessed by him or by somebody who's his trustee

290
00:19:02,800 --> 00:19:08,280
Suze: and it won't disqualify him. In terms of a variable

291
00:19:08,290 --> 00:19:10,410
Suze: annuity for your retirement.

292
00:19:11,699 --> 00:19:15,099
Suze: Listen, I have a top 10 hate list of investments

293
00:19:15,109 --> 00:19:18,560
Suze: that I hate and I don't use that word lightly.

294
00:19:19,130 --> 00:19:23,750
Suze: I understand when I say that word that it absolutely

295
00:19:23,760 --> 00:19:25,930
Suze: sends Shriver, send shrivers...

296
00:19:25,930 --> 00:19:29,640
KT: Shivers, shivers.

297
00:19:29,959 --> 00:19:34,988
Suze: All right. So it absolutely sends splinters. It sends something

298
00:19:35,550 --> 00:19:40,949
Suze: and like it sends shivers down KT's spine. She hates

299
00:19:40,959 --> 00:19:44,229
Suze: that word hate. Ok. So

300
00:19:44,959 --> 00:19:48,030
Suze: one of the things that I hate the most are

301
00:19:48,040 --> 00:19:54,639
Suze: variable annuities. There is not one circumstance on any level

302
00:19:55,130 --> 00:20:00,540
Suze: where it makes sense to do. Not one, not one.

303
00:20:00,989 --> 00:20:04,899
Suze: So therefore, the answer to that question is not only

304
00:20:04,910 --> 00:20:10,040
Suze: should you not invest $100,000 you should never ever invest

305
00:20:10,150 --> 00:20:14,349
Suze: in a variable annuity. If you wanna buy mutual funds,

306
00:20:14,359 --> 00:20:17,280
Suze: if you wanna do things like that, exchange traded funds,

307
00:20:17,290 --> 00:20:19,530
Suze: individual stocks, I don't have a problem with that.

308
00:20:20,040 --> 00:20:24,949
Suze: I don't like variable annuities and it seems like you

309
00:20:24,959 --> 00:20:29,280
Suze: already have an annuity with equitable. Hopefully it's a single

310
00:20:29,290 --> 00:20:36,209
Suze: premium deferred annuity and not a variable annuity. All right KT, next.

311
00:20:36,219 --> 00:20:38,109
KT: Ok. This is my last question.

312
00:20:38,359 --> 00:20:42,500
KT: This is from Mary. Hi, KT and Suze. Stock market

313
00:20:42,510 --> 00:20:46,760
KT: keeps going higher and higher. When do I take profits?

314
00:20:46,829 --> 00:20:51,458
KT: I'm 57 and working full time for a modest salary.

315
00:20:51,469 --> 00:20:54,729
KT: I don't need the money now, but I'm counting on

316
00:20:54,739 --> 00:20:58,500
KT: it for retirement. If the market takes a major hit,

317
00:20:58,660 --> 00:21:01,050
KT: how long will it take to recover?

318
00:21:01,589 --> 00:21:05,089
KT: Ready, Suze? She said, I hope you have a crystal ball.

319
00:21:05,099 --> 00:21:07,409
KT: I wanna say Mary, you need a crystal ball for

320
00:21:07,420 --> 00:21:08,729
KT: these questions.

321
00:21:09,160 --> 00:21:11,829
Suze: Well, here's what I can tell you.

322
00:21:12,630 --> 00:21:16,010
Suze: It is very possible if the market were to go

323
00:21:16,020 --> 00:21:20,599
Suze: down significantly, it could take 3, 5 or 10 years,

324
00:21:20,609 --> 00:21:24,489
Suze: believe it or not, for it to recover.

325
00:21:25,099 --> 00:21:29,280
Suze: So you have to ask yourself the question. How long

326
00:21:29,290 --> 00:21:32,119
Suze: have you been invested in the stocks that you are

327
00:21:32,130 --> 00:21:36,280
Suze: invested in? If you were to sell some of them,

328
00:21:36,290 --> 00:21:40,729
Suze: would it be capital gains or ordinary income tax, number one.

329
00:21:40,750 --> 00:21:43,319
Suze: Because you don't want to sell it before you have

330
00:21:43,329 --> 00:21:48,800
Suze: held them for at least one year or longer? Ok. Next,

331
00:21:48,930 --> 00:21:52,219
Suze: you really have to look at your emotion quotient,

332
00:21:52,599 --> 00:21:56,969
Suze: which means how nervous are you? Because the goal of

333
00:21:56,979 --> 00:22:00,339
Suze: money is for you to be secure. And if you

334
00:22:00,349 --> 00:22:03,859
Suze: currently have enough money right now

335
00:22:04,959 --> 00:22:08,129
Suze: that if you were to sell after taxes and you

336
00:22:08,140 --> 00:22:11,739
Suze: put away safe and sound that if you were counting

337
00:22:11,750 --> 00:22:16,409
Suze: on that money for retirement, that it would absolutely be

338
00:22:16,420 --> 00:22:20,359
Suze: there because it would be invested in either bonds or

339
00:22:20,369 --> 00:22:23,930
Suze: whatever that is absolutely safe and sound.

340
00:22:24,560 --> 00:22:28,770
Suze: You are still young. You are 57 years of age.

341
00:22:28,880 --> 00:22:32,569
Suze: So I don't know how long you plan to work,

342
00:22:32,699 --> 00:22:37,760
Suze: but you may plan to work till you're 70 because

343
00:22:37,770 --> 00:22:41,859
Suze: that really should be the new retirement age today, everybody.

344
00:22:41,989 --> 00:22:44,897
Suze: Because that's when full Social Security will kick in -

345
00:22:44,897 --> 00:22:46,530
Suze: perfect age to retire.

346
00:22:47,130 --> 00:22:52,310
Suze: The market seem like they're going to continue up into 2025.

347
00:22:52,410 --> 00:22:55,569
Suze: So I probably would not be selling right now if

348
00:22:55,579 --> 00:22:59,589
Suze: I were you. But anything could happen at any time.

349
00:22:59,979 --> 00:23:03,540
Suze: Sometimes when you don't know what to do, sell half.

350
00:23:04,770 --> 00:23:08,540
Suze: Do something that makes you feel secure. But I like

351
00:23:08,550 --> 00:23:11,989
Suze: that you're invested and if you're invested in stocks or

352
00:23:12,000 --> 00:23:16,550
Suze: even an index fund that went up 30% this year,

353
00:23:17,439 --> 00:23:22,459
Suze: ok. Maybe you just continue to hold on for now.

354
00:23:22,859 --> 00:23:25,869
Suze: But it all comes down to what stocks are you

355
00:23:25,880 --> 00:23:31,020
Suze: invested in? What investments do you have? And how do

356
00:23:31,030 --> 00:23:33,819
Suze: they make you feel at this point in time. If

357
00:23:33,829 --> 00:23:36,339
Suze: you are afraid, well,

358
00:23:36,699 --> 00:23:39,369
Suze: there's only one way to squelch that far and that's

359
00:23:39,380 --> 00:23:42,329
Suze: to sell. But then you cannot look back and go.

360
00:23:42,339 --> 00:23:47,060
Suze: Why did I do that? So you might wanna look at,

361
00:23:47,069 --> 00:23:49,489
Suze: do you have anything that's doubled in value?

362
00:23:49,959 --> 00:23:52,550
Suze: And if it's doubled in value, do what Keith calls

363
00:23:52,560 --> 00:23:55,879
Suze: a free trade, sell those shares that doubled and let

364
00:23:55,890 --> 00:23:59,410
Suze: the rest ride. All right, KT. You know what time

365
00:23:59,420 --> 00:24:00,219
Suze: it is right now.

366
00:24:00,229 --> 00:24:01,260
KT: Quizzy time.

367
00:24:01,339 --> 00:24:02,139
Suze: Are you excited?

368
00:24:02,430 --> 00:24:05,310
KT: Yes, Suze. Quizzy's are not my favorite, but I'll never

369
00:24:05,319 --> 00:24:07,770
KT: stop trying. I'm gonna go for the gold ring.

370
00:24:08,770 --> 00:24:09,879
Suze: Who's giving you a gold ring?

371
00:24:09,890 --> 00:24:12,989
KT: The gold ring is, is a metaphor. It's a saying

372
00:24:13,000 --> 00:24:14,579
KT: when you're on a merry go round, you try to

373
00:24:14,589 --> 00:24:15,790
KT: grab the gold ring.

374
00:24:15,810 --> 00:24:17,608
Suze: It was never gold when I went on a merry

375
00:24:17,608 --> 00:24:17,640
Suze: go round.

376
00:24:20,890 --> 00:24:24,790
Suze: So this is from Linda, which is, this is, this

377
00:24:24,800 --> 00:24:27,140
Suze: is my half birthday. You have to be nice to me.

378
00:24:28,270 --> 00:24:29,229
KT: Ok.

379
00:24:29,239 --> 00:24:30,540
Suze: Did you get me a present?

380
00:24:30,819 --> 00:24:31,609
KT: I did.

381
00:24:32,380 --> 00:24:34,689
KT: You'll get it, you'll get it at dinner time.

382
00:24:35,219 --> 00:24:36,718
Suze: Are they my favorite things?

383
00:24:36,729 --> 00:24:40,199
KT: Maybe, maybe let's not talk about it, let's not talk about.

384
00:24:40,219 --> 00:24:43,280
Suze: All right. My question is, again, this is from Linda.

385
00:24:43,329 --> 00:24:47,439
Suze: What would be better to open a traditional Roth,

386
00:24:48,319 --> 00:24:54,790
Suze: a Roth IRA or mutual funds for five years? Which

387
00:24:54,800 --> 00:24:56,219
Suze: one would be better KT?

388
00:24:56,229 --> 00:25:00,449
KT: Probably it says for five years. Oh, that's a mutual fund.

389
00:25:00,459 --> 00:25:02,339
KT: Probably the Roth IRA.

390
00:25:03,380 --> 00:25:06,250
Suze: Are you sure? What about traditional Roth?

391
00:25:06,260 --> 00:25:09,669
KT: I think the Roth a traditional Roth.

392
00:25:10,560 --> 00:25:14,469
KT: Well, one is, um, I think the Roth Ira will

393
00:25:14,479 --> 00:25:17,290
KT: give her more benefits. Does say say how old she is?

394
00:25:17,729 --> 00:25:18,024
Suze: No.

395
00:25:18,023 --> 00:25:18,319
KT: Oh.

396
00:25:20,619 --> 00:25:22,199
KT: Maybe the Roth IRA.

397
00:25:22,339 --> 00:25:23,409
Suze: Maybe?

398
00:25:24,260 --> 00:25:27,130
KT: Definitely. I mean, that's my final answer.

399
00:25:28,510 --> 00:25:28,869
Suze: Ding Ding Ding Ding.

400
00:25:28,869 --> 00:25:29,699
KT: See Roth Ira.

401
00:25:29,790 --> 00:25:33,489
Suze: I gave you a ding ding ding ding. Linda, you

402
00:25:33,500 --> 00:25:37,079
Suze: need to listen to me. First of all, there's no

403
00:25:37,089 --> 00:25:43,479
Suze: such thing as a traditional Roth. It's a traditional IRA,

404
00:25:43,959 --> 00:25:47,069
Suze: which simply means it is pre taxed.

405
00:25:47,489 --> 00:25:53,359
Suze: A Roth IRA is after tax and mutual funds are

406
00:25:53,369 --> 00:25:57,449
Suze: just simply an investment. What you need to understand is

407
00:25:57,459 --> 00:26:03,589
Suze: that within the Roth IRA, you can buy mutual funds

408
00:26:03,599 --> 00:26:06,680
Suze: so they're not mutually exclusive. It's not like, oh, you

409
00:26:06,689 --> 00:26:08,750
Suze: can just do mutual funds or you can just do

410
00:26:08,760 --> 00:26:13,630
Suze: a Roth. A Roth IRA is a tax free house

411
00:26:13,640 --> 00:26:14,579
Suze: for money

412
00:26:15,140 --> 00:26:18,560
Suze: and within that house you have to hold an investment

413
00:26:18,739 --> 00:26:22,829
Suze: and the investments you can hold are mutual funds, exchange

414
00:26:22,839 --> 00:26:27,839
Suze: traded funds, individual stocks, whatever it is that you want.

415
00:26:28,180 --> 00:26:32,640
Suze: So a Roth IRA and within the Roth IRA you

416
00:26:32,650 --> 00:26:38,650
Suze: decide what you want to buy. All right, everybody. Party time, party, time,

417
00:26:38,660 --> 00:26:39,599
Suze: party time.

418
00:26:40,219 --> 00:26:42,650
Suze: Ok. Are you getting ready for your sister? She's gonna

419
00:26:42,660 --> 00:26:44,209
Suze: land in just a few hours.

420
00:26:44,219 --> 00:26:49,489
KT: So, Suze, let's do a sister's podcast on Sunday, Sunday sisters.

421
00:26:49,579 --> 00:26:50,969
Suze: With Barbara?

422
00:26:51,849 --> 00:26:54,880
KT: Let's do it with Barbara. Let's tell... Barbara, by the way,

423
00:26:54,890 --> 00:26:59,479
KT: everyone is the mom of Travis and Sophia, she's our

424
00:26:59,500 --> 00:27:00,530
KT: little sister.

425
00:27:00,540 --> 00:27:04,010
Suze: Sophia is my favorite. Travis is KT's favorite.

426
00:27:04,489 --> 00:27:06,399
Suze: Oh God, these kids are so great.

427
00:27:06,489 --> 00:27:10,520
KT: So let's um let's do a sister's podcast. That will

428
00:27:10,530 --> 00:27:14,000
KT: be fun if you want that. Everyone right into the

429
00:27:14,010 --> 00:27:16,680
KT: women and Money app and tell Suze. Yes. Yes. Yes.

430
00:27:16,689 --> 00:27:17,599
KT: Do it, do it, do it.

431
00:27:17,609 --> 00:27:19,849
Suze: And by the way, the Women and Money app is

432
00:27:19,859 --> 00:27:22,660
Suze: something that I love. You can download it for free

433
00:27:22,670 --> 00:27:26,729
Suze: at Apple Apps or Google Play. Just search for women

434
00:27:26,739 --> 00:27:30,359
Suze: and Money and you are in all right, everybody.

435
00:27:30,640 --> 00:27:35,030
Suze: So it is my half birthday and I do have

436
00:27:35,040 --> 00:27:35,698
Suze: a wish.

437
00:27:35,949 --> 00:27:37,060
KT: What is it?

438
00:27:37,189 --> 00:27:40,969
Suze: My wish is that for all of you, for all

439
00:27:40,979 --> 00:27:45,430
Suze: of you to be safe and sound, to know that

440
00:27:45,439 --> 00:27:49,339
Suze: you all have the ability to be the masters of

441
00:27:49,349 --> 00:27:51,219
Suze: your own financial destiny

442
00:27:52,109 --> 00:27:55,530
Suze: and may financial freedom bless really every one of your

443
00:27:55,540 --> 00:27:59,810
Suze: doorsteps and may God bless every single one of you

444
00:28:00,010 --> 00:28:03,939
Suze: and may you always be unstoppable.