1 00:00:20,239 --> 00:00:20,450 Music: Music IN 2 00:00:37,040 --> 00:00:41,430 Robert: July 7th 2022. Hi everybody. Producer Robert here. On the 3 00:00:41,430 --> 00:00:44,729 Robert: last episode. You heard about the lightning strike that fried 4 00:00:44,930 --> 00:00:48,209 Robert: the circuit boards to the house next door to Suze 5 00:00:48,210 --> 00:00:51,870 Robert: and KT and how that strike also fried some of 6 00:00:51,870 --> 00:00:53,060 Robert: their circuit boards. 7 00:00:53,740 --> 00:00:57,390 Robert: Well, right now eight electricians are working on repairs which 8 00:00:57,400 --> 00:01:01,150 Robert: unfortunately means that Suze and KT can't use their podcast 9 00:01:01,150 --> 00:01:05,250 Robert: studio today. Hopefully Suze will be up and running this Sunday. 10 00:01:05,280 --> 00:01:09,020 Robert: And since there are still so many questions about Series 11 00:01:09,020 --> 00:01:12,459 Robert: I Bonds. What we're gonna do today is play highlights 12 00:01:12,840 --> 00:01:16,470 Robert: from an Ask K. T. and Suze episode from May, 13 00:01:16,480 --> 00:01:18,260 Robert: all about Series I Bonds 14 00:01:19,040 --> 00:01:19,660 Robert: enjoy. 15 00:01:20,040 --> 00:01:25,770 Suze: All right sweetheart. What do you got for me? Oh day, 16 00:01:26,520 --> 00:01:31,860 Suze: wait wait let me talk for a second. Sure go ahead. 17 00:01:31,870 --> 00:01:38,840 Suze: Alright I bonds series I bonds on April 17 I 18 00:01:38,840 --> 00:01:40,560 Suze: gave a master class 19 00:01:40,740 --> 00:01:45,760 Suze: on the Suze School podcast about I bonds which I 20 00:01:45,760 --> 00:01:50,030 Suze: really believe from the bottom of my heart, every single 21 00:01:50,040 --> 00:01:53,800 Suze: one of you without exception, it does not matter who 22 00:01:53,800 --> 00:01:55,050 Suze: you are out there 23 00:01:55,640 --> 00:02:00,270 Suze: should absolutely purchase a series I bond and you do 24 00:02:00,270 --> 00:02:04,440 Suze: so by going to treasury direct dot gov minimum purchase 25 00:02:04,440 --> 00:02:08,380 Suze: is $25 all the way up to $10,000 which is 26 00:02:08,380 --> 00:02:11,540 Suze: usually the max. But if you listen to the podcast 27 00:02:11,540 --> 00:02:15,350 Suze: on April 17th you will learn how you can purchase more. 28 00:02:16,040 --> 00:02:17,060 Suze: However 29 00:02:18,040 --> 00:02:22,630 Suze: even after that master class we are getting so many 30 00:02:22,630 --> 00:02:27,390 Suze: questions about series I bonds and you're all saying I 31 00:02:27,389 --> 00:02:29,940 Suze: know I know I should know the answer to this 32 00:02:29,940 --> 00:02:33,940 Suze: question but I just don't. So KT and I both decided, 33 00:02:33,950 --> 00:02:37,150 Suze: let's do an Ask KT and Suze anything about I bonds. 34 00:02:39,650 --> 00:02:41,940 KT: I just want everyone to know. I don't know the 35 00:02:41,940 --> 00:02:43,959 KT: answers either. We picked out. 36 00:02:44,740 --> 00:02:47,040 KT: There's so many of these I said Suze, I'm going 37 00:02:47,040 --> 00:02:50,210 KT: to call Treasury direct dot Gov and tell them to 38 00:02:50,210 --> 00:02:54,440 KT: listen to this podcast because if people are asking so 39 00:02:54,450 --> 00:02:58,480 KT: many questions, they better figure it out, they better answer them. 40 00:02:58,480 --> 00:03:02,650 Suze: Actually, the truth is KT, all the answers are on 41 00:03:02,660 --> 00:03:04,560 Suze: Treasury Direct dot Gov. 42 00:03:04,740 --> 00:03:07,400 Suze: Just people aren't going there to look at them. It's 43 00:03:07,400 --> 00:03:10,490 Suze: really kind of sad, but because of that we will 44 00:03:10,490 --> 00:03:14,350 Suze: still answer your questions. So let's go girlfriend. 45 00:03:14,350 --> 00:03:16,990 KT: Okay, we have lots of them. But they're really quick. 46 00:03:16,990 --> 00:03:17,850 KT: So ready, 47 00:03:18,340 --> 00:03:21,320 KT: Suze, This is from Gwen, when I cash in my 48 00:03:21,320 --> 00:03:25,600 KT: I bonds, How is the profit taxed as capital gains 49 00:03:25,600 --> 00:03:29,769 KT: or ordinary income Can I buy I bonds with a 50 00:03:29,780 --> 00:03:32,690 KT: retirement account. So two questions 51 00:03:32,810 --> 00:03:37,280 Suze: first of all, Gwen, you cannot buy series I bonds 52 00:03:37,280 --> 00:03:39,360 Suze: within a retirement account, 53 00:03:39,940 --> 00:03:42,960 Suze: it has to be in a person's name. 54 00:03:43,840 --> 00:03:47,670 Suze: Your name, a trust name, a business name, but not 55 00:03:47,680 --> 00:03:51,550 Suze: a retirement account. So no, you cannot too, 56 00:03:51,940 --> 00:03:52,350 Suze: when you 57 00:03:52,350 --> 00:03:56,140 Suze: cash out, listen, everybody actually, the proper name is when 58 00:03:56,140 --> 00:03:58,060 Suze: you redeem your I Bond , 59 00:03:58,640 --> 00:03:59,010 Suze: you 60 00:03:59,010 --> 00:04:03,300 Suze: will pay ordinary income tax on any interest that you 61 00:04:03,310 --> 00:04:06,760 Suze: earned on the amount that you are redeeming. 62 00:04:07,240 --> 00:04:11,760 Suze: Just that simple, Please remember when you buy an I Bond , 63 00:04:12,540 --> 00:04:12,680 Suze: it 64 00:04:12,680 --> 00:04:15,750 Suze: is a tax deferred investment. 65 00:04:16,339 --> 00:04:20,450 Suze: So that means that your interest that you are earning. 66 00:04:20,460 --> 00:04:23,810 Suze: You do not pay taxes on it while it stays 67 00:04:23,820 --> 00:04:27,750 Suze: in the I bond it is tax deferred and that's 68 00:04:27,750 --> 00:04:32,510 Suze: fabulous because then the interest that you've earned starts to 69 00:04:32,520 --> 00:04:35,359 Suze: earn interest and everything starts to compound. 70 00:04:36,240 --> 00:04:38,550 Suze: But when you do redeem 71 00:04:39,640 --> 00:04:42,060 Suze: whatever amount you redeem 72 00:04:42,740 --> 00:04:47,760 Suze: you will owe a portion of that is interest and 73 00:04:47,760 --> 00:04:50,289 Suze: therefore you will owe taxes on it. Now let me 74 00:04:50,290 --> 00:04:51,860 Suze: just give you an example 75 00:04:52,440 --> 00:04:55,589 Suze: First of all, you need to remember that you do 76 00:04:55,589 --> 00:04:59,460 Suze: not have to redeem 100% of your I Bond . 77 00:04:59,940 --> 00:05:04,969 Suze: If you put, let's just say $10,000 in it and 78 00:05:04,980 --> 00:05:08,460 Suze: all you want is $2,000. That's fine. 79 00:05:09,240 --> 00:05:12,750 Suze: You just need to then redeem $2,000. 80 00:05:13,240 --> 00:05:17,469 Suze: And Treasury direct will figure out how much of that 81 00:05:17,470 --> 00:05:23,050 Suze: $2,000 is principal and how much of it is interest 82 00:05:23,640 --> 00:05:29,160 Suze: that's called pro rating the amount of money that you redeem. 83 00:05:29,940 --> 00:05:35,610 Suze: So therefore let's just say you withdrew $2000 maybe $70 84 00:05:35,610 --> 00:05:38,310 Suze: of that might be interest or whatever it may be 85 00:05:38,310 --> 00:05:42,750 Suze: and that's what you will owe ordinary income tax. Um 86 00:05:43,339 --> 00:05:47,260 Suze: Now here's what's really important for you to know 87 00:05:47,640 --> 00:05:49,860 Suze: when you redeem money, 88 00:05:50,640 --> 00:05:53,230 Suze: they will send it the next day to the bank 89 00:05:53,230 --> 00:05:58,200 Suze: account that you have linked to on your Treasury direct 90 00:05:58,210 --> 00:06:00,560 Suze: dot gov account. Number one. 91 00:06:00,940 --> 00:06:06,900 Suze: Number two you will owe income taxes on that interest. 92 00:06:06,910 --> 00:06:08,650 Suze: But Treasury Direct 93 00:06:09,040 --> 00:06:14,130 Suze: Will not mail you a 1099 form. Like maybe your 94 00:06:14,140 --> 00:06:15,990 Suze: other financial institutions 95 00:06:15,990 --> 00:06:16,360 Suze: do 96 00:06:17,040 --> 00:06:20,830 Suze: you will have to go back onto Treasury Direct dot 97 00:06:20,839 --> 00:06:21,359 Suze: gov 98 00:06:21,740 --> 00:06:25,359 Suze: And look to where it says manage direct. 99 00:06:26,040 --> 00:06:29,630 Suze: Alright. Because you want to manage your Treasury direct dot 100 00:06:29,630 --> 00:06:32,060 Suze: Gov account. So it says manage direct. 101 00:06:32,440 --> 00:06:35,460 Suze: And then you just scroll down 102 00:06:36,040 --> 00:06:36,360 Suze: now 103 00:06:36,360 --> 00:06:39,960 Suze: that is where you would go to redeem your I 104 00:06:39,960 --> 00:06:42,630 Suze: bonds and you would scroll down to where it says 105 00:06:42,630 --> 00:06:44,260 Suze: redeem securities. 106 00:06:45,040 --> 00:06:47,160 Suze: Okay, that's where you would do that. 107 00:06:47,540 --> 00:06:48,050 Suze: Now, 108 00:06:48,540 --> 00:06:52,710 Suze: if you've already cashed out, you would go to where 109 00:06:52,710 --> 00:06:55,350 Suze: it says manage my securities. 110 00:06:55,740 --> 00:06:58,640 Suze: And then you would look to where it says manage 111 00:06:58,640 --> 00:07:03,450 Suze: my taxes and that is where you will find your 112 00:07:03,450 --> 00:07:06,560 Suze: 1099 for the year 113 00:07:07,040 --> 00:07:09,940 Suze: that you redeemed some of your I bonds. So you 114 00:07:09,940 --> 00:07:10,190 Suze: know 115 00:07:10,190 --> 00:07:11,930 Robert: exactly what 116 00:07:11,930 --> 00:07:16,360 Suze: to report on your taxes. Just that simple. 117 00:07:16,740 --> 00:07:20,080 Suze: Now I get by the look on MS Travis's face, 118 00:07:20,080 --> 00:07:21,450 Suze: Katie don't say anything here. 119 00:07:22,240 --> 00:07:23,350 Suze: I know you want to don't 120 00:07:23,740 --> 00:07:24,060 Suze: don't 121 00:07:24,740 --> 00:07:29,630 Suze: anyway. Right. I know all of this can be complicated. 122 00:07:29,640 --> 00:07:34,020 Suze: So you also could just call Treasury direct dot gov 123 00:07:34,030 --> 00:07:37,790 Suze: and ask them any question that you may have. And 124 00:07:37,790 --> 00:07:40,360 Suze: their phone number is 844 125 00:07:41,040 --> 00:07:42,450 Suze: 284 126 00:07:42,840 --> 00:07:48,060 Suze: 2676. It is just that simple. 127 00:07:48,640 --> 00:07:51,700 Suze: So that's what you need to know. Okay enough on this. Now. 128 00:07:51,700 --> 00:07:53,170 Suze: Next question, KT 129 00:07:53,360 --> 00:07:55,360 KT: Suze. Next question is from Barbara. 130 00:07:55,740 --> 00:07:59,190 KT: Suze. Can you explain why I need to enter the 131 00:07:59,190 --> 00:08:03,420 KT: banking info and routing number etcetera when I open a 132 00:08:03,420 --> 00:08:05,060 KT: Treasury direct account? 133 00:08:05,440 --> 00:08:07,360 Suze: Yes. The reason is Barbara 134 00:08:07,740 --> 00:08:11,100 Suze: you may at one day want to redeem these bonds 135 00:08:11,110 --> 00:08:12,660 Suze: or maybe they will mature 136 00:08:13,040 --> 00:08:17,370 Suze: and Treasury Direct dot Gov needs a place that they 137 00:08:17,370 --> 00:08:22,100 Suze: can automatically send the money to when you redeem it. 138 00:08:22,110 --> 00:08:24,130 Suze: They are not going to cut you a check. They 139 00:08:24,130 --> 00:08:26,200 Suze: are not going to send it to your home. They 140 00:08:26,200 --> 00:08:29,320 Suze: are going to send it to the bank account that 141 00:08:29,320 --> 00:08:32,860 Suze: you have registered. So you need to tell them 142 00:08:32,940 --> 00:08:34,650 Suze: how are they going to do that 143 00:08:34,940 --> 00:08:37,550 Suze: and they're going to do that by direct routing it 144 00:08:37,550 --> 00:08:41,559 Suze: to your bank account. What's very important? Everybody listen to 145 00:08:41,559 --> 00:08:42,460 Suze: me right now. 146 00:08:42,840 --> 00:08:46,640 Suze: The bank account that you put on Treasury direct dot 147 00:08:46,640 --> 00:08:49,380 Suze: Gov is a bank account that you need to keep 148 00:08:49,390 --> 00:08:50,550 Suze: forever 149 00:08:51,040 --> 00:08:53,479 Suze: because if you close that account and you go then 150 00:08:53,480 --> 00:08:56,650 Suze: to another bank or whatever it may be, they're not 151 00:08:56,650 --> 00:08:59,460 Suze: going to be able to send it to you when 152 00:08:59,460 --> 00:09:02,349 Suze: you do redeem. So the bank account 153 00:09:02,840 --> 00:09:04,360 Suze: that you put down 154 00:09:04,840 --> 00:09:08,460 Suze: has got to be one that you're going to keep forever. 155 00:09:09,540 --> 00:09:12,300 Suze: That's really great. Yeah it can be a credit union account, 156 00:09:12,300 --> 00:09:14,910 Suze: whatever it is but it's got to be one that 157 00:09:14,910 --> 00:09:18,010 Suze: you're going to keep keep for as long as you've 158 00:09:18,010 --> 00:09:20,100 Suze: got this I bond invested. 159 00:09:20,370 --> 00:09:23,250 KT: Right okay. Next is from Mimi 160 00:09:24,040 --> 00:09:27,010 KT: trying to create an account to buy I bonds on Treasury 161 00:09:27,010 --> 00:09:30,079 KT: dot gov. But I'm having trouble finding where you put 162 00:09:30,090 --> 00:09:34,469 KT: in a beneficiary. I thought you said you can either 163 00:09:34,480 --> 00:09:36,550 KT: open an individual account 164 00:09:37,040 --> 00:09:40,939 KT: or have a second person named on the account or 165 00:09:40,950 --> 00:09:44,710 KT: have a beneficiary. I can't find where you add the 166 00:09:44,710 --> 00:09:50,490 KT: second person or the beneficiary. You Mimi and everybody else. 167 00:09:50,540 --> 00:09:54,810 KT: Not exactly sure why Treasury direct dot gov kinda makes 168 00:09:54,809 --> 00:09:56,450 KT: it a little complicated. 169 00:09:56,540 --> 00:09:59,059 Suze: But here's what you all need to know 170 00:09:59,740 --> 00:09:59,980 Suze: if 171 00:09:59,980 --> 00:10:03,710 Suze: you're buying an I. Bond for the first time in 172 00:10:03,720 --> 00:10:07,130 Suze: a personal account let's say that's true. You need to 173 00:10:07,130 --> 00:10:11,959 Suze: create a registration which means you want the I bonds 174 00:10:11,960 --> 00:10:16,400 Suze: to have just yourself as the only owner. You as 175 00:10:16,400 --> 00:10:20,560 Suze: the primary owner and another person as the secondary owner 176 00:10:20,640 --> 00:10:24,860 Suze: or you as the owner and another person as the beneficiary. 177 00:10:24,910 --> 00:10:27,770 Suze: But you do that. Not when you first open up 178 00:10:27,770 --> 00:10:31,650 Suze: your account you open up your account and then as 179 00:10:31,650 --> 00:10:34,300 Suze: you go down you have to look for a thing 180 00:10:34,300 --> 00:10:37,260 Suze: that says registration information. 181 00:10:37,640 --> 00:10:40,980 Suze: And when you click on there you will see that 182 00:10:40,980 --> 00:10:45,160 Suze: you have three options. There's like three little things that 183 00:10:45,160 --> 00:10:45,860 Suze: you can click 184 00:10:46,340 --> 00:10:50,460 Suze: whether it's a sole owner, a primary owner or a 185 00:10:50,460 --> 00:10:51,560 Suze: beneficiary 186 00:10:51,940 --> 00:10:56,059 Suze: and then you simply fill in the information that comes up. 187 00:10:56,070 --> 00:10:58,600 Suze: They're gonna ask you for the first middle and last 188 00:10:58,600 --> 00:11:01,840 Suze: name of the beneficiary or the secondary owner and so 189 00:11:01,840 --> 00:11:03,060 Suze: on and so forth. 190 00:11:03,440 --> 00:11:04,660 Suze: Now again 191 00:11:05,040 --> 00:11:09,360 Suze: remember this. You choose the sole owner. 192 00:11:09,940 --> 00:11:14,099 Suze: If you want yourself as the only owner with neither 193 00:11:14,110 --> 00:11:18,380 Suze: a secondary owner nor a beneficiary. Why you would do 194 00:11:18,380 --> 00:11:19,750 Suze: that is beyond me 195 00:11:20,240 --> 00:11:21,570 KT: why you would do what? 196 00:11:21,580 --> 00:11:23,850 Suze: choose just you want to be a sole owner. (KT Says "why?" 197 00:11:23,980 --> 00:11:27,650 Suze: Because KT, if you're a sole owner you die, 198 00:11:28,040 --> 00:11:29,260 Suze: who's going to get this money? 199 00:11:29,260 --> 00:11:31,630 KT: So let me ask you that. If you don't fill 200 00:11:31,630 --> 00:11:33,460 KT: it in? What happens to the money? 201 00:11:33,840 --> 00:11:35,569 Suze: What do you mean if you don't feel it in? 202 00:11:36,170 --> 00:11:39,510 KT: let's say you choose the sole owner, choose sole owner and there's nothing else 203 00:11:39,510 --> 00:11:41,160 KT: that you add what happens. 204 00:11:41,160 --> 00:11:44,040 Suze: It goes to your estate and it goes through probate. 205 00:11:44,050 --> 00:11:47,460 Suze: Why would you want that to happen? 206 00:11:48,040 --> 00:11:52,190 Suze: You choose a primary owner, which is what we have. KT. 207 00:11:52,200 --> 00:11:56,670 Suze: You choose a primary owner. If you want yourself as 208 00:11:56,670 --> 00:12:02,240 Suze: the primary owner with another person at the secondary owner 209 00:12:02,260 --> 00:12:05,750 Suze: and a secondary owner is more or less like the beneficiary. 210 00:12:05,760 --> 00:12:08,050 Suze: It's not only the beneficiary 211 00:12:08,240 --> 00:12:11,050 Suze: but they take and take over the account as if 212 00:12:11,050 --> 00:12:15,690 Suze: it was their own without going through probate without redeeming 213 00:12:15,690 --> 00:12:19,760 Suze: it without anything. The secondary owner 214 00:12:20,140 --> 00:12:24,300 Suze: has the ability to view the account, check the account. 215 00:12:24,309 --> 00:12:28,230 Suze: It's what you and I both sound good for spouses 216 00:12:28,230 --> 00:12:32,040 Suze: or for anybody who wants it that way. Now you 217 00:12:32,040 --> 00:12:36,959 Suze: would choose beneficiary if you want yourself as the primary 218 00:12:36,960 --> 00:12:40,559 Suze: owner with another person? As the beneficiary. 219 00:12:40,740 --> 00:12:44,280 Suze: Now the reason you would do it that way is 220 00:12:44,280 --> 00:12:47,950 Suze: that the beneficiary doesn't have a right to view your account. 221 00:12:47,960 --> 00:12:51,400 Suze: If you die it goes to them. They cannot take 222 00:12:51,400 --> 00:12:53,939 Suze: it over as if it was their own. But if 223 00:12:53,940 --> 00:12:55,949 Suze: you name a beneficiary 224 00:12:56,340 --> 00:13:01,190 Suze: and you die, it avoids probate. Now it's really important 225 00:13:01,190 --> 00:13:03,059 Suze: that you all understand 226 00:13:03,540 --> 00:13:07,350 Suze: that each bond can only have one second owner 227 00:13:08,340 --> 00:13:13,809 Suze: And only one beneficiary but not both at the same time. 228 00:13:13,820 --> 00:13:17,870 KT: So, Susie, I know this. I know this whole podcast 229 00:13:17,870 --> 00:13:21,640 KT: is making you crazy. But one more question. suppose my 230 00:13:21,640 --> 00:13:26,480 KT: sister Lynn who has two daughters has a $10,000. I 231 00:13:26,480 --> 00:13:30,160 KT: bond wants to buy one and she wants to leave 232 00:13:30,160 --> 00:13:30,660 KT: that 233 00:13:31,140 --> 00:13:33,270 KT: to both her daughters. Right? 234 00:13:34,559 --> 00:13:39,059 Suze: She can't do that because everybody, you've got to get 235 00:13:39,070 --> 00:13:45,510 Suze: this right. Are you listening closely? And I bond can 236 00:13:45,520 --> 00:13:48,860 Suze: only have one beneficiary 237 00:13:49,740 --> 00:13:51,559 Suze: per bond. That is it. 238 00:13:52,240 --> 00:13:57,100 Suze: So if Lynn has $10,000, she would have to take 239 00:13:57,100 --> 00:14:00,630 Suze: out one I bond for $5,000 and leave it to 240 00:14:00,630 --> 00:14:05,400 Suze: one daughter another. I bond for another $5,000 and leave 241 00:14:05,400 --> 00:14:09,360 Suze: it to the other daughter. You cannot have two 242 00:14:09,840 --> 00:14:11,760 Suze: beneficiaries or more 243 00:14:12,540 --> 00:14:15,940 Suze: on an I bond just that simple. All right. 244 00:14:15,950 --> 00:14:20,350 KT: If I open my eye bon and I have a beneficiary, 245 00:14:20,360 --> 00:14:24,830 KT: Do you have to add the beneficiary's name? Social? Everything, 246 00:14:25,260 --> 00:14:26,660 KT: everything to them. All right. 247 00:14:27,140 --> 00:14:33,930 Suze: So trust accounts and business accounts can't buy bonds. However, 248 00:14:33,940 --> 00:14:38,750 Suze: with a secondary owner or a beneficiary because the trust 249 00:14:38,750 --> 00:14:41,260 Suze: or the business will be the only owner but the 250 00:14:41,260 --> 00:14:46,850 Suze: trust already says where everything goes. So is that clear everybody? 251 00:14:47,040 --> 00:14:47,450 KT: Yeah 252 00:14:47,640 --> 00:14:48,450 KT: sort of 253 00:14:50,940 --> 00:14:54,130 KT: we're going to do to I bond classes. Let me 254 00:14:54,130 --> 00:14:58,100 KT: keep asking questions. It gets clearer because these questions really 255 00:14:58,100 --> 00:15:01,560 KT: repeat themselves. Here's here's the next one. This is from Diane. 256 00:15:02,740 --> 00:15:08,480 KT: Suze question number one, will I be continuously participating in 257 00:15:08,480 --> 00:15:12,350 KT: the renewal rate that occurs twice a year. May 1st 258 00:15:12,350 --> 00:15:15,230 KT: in November 1st I wait a minute. 259 00:15:15,940 --> 00:15:19,690 KT: I understand. The rates may change based on c. p. I. 260 00:15:19,690 --> 00:15:24,050 KT: And some years my money may earn 0% and I'm 261 00:15:24,050 --> 00:15:25,150 KT: okay with that. 262 00:15:25,640 --> 00:15:30,470 KT: Is that true? Okay. Question two. Will I be able 263 00:15:30,470 --> 00:15:34,460 KT: to lock in the rates on bonds that I already purchased? 264 00:15:34,840 --> 00:15:38,400 Suze: Alright, so what's funny here, Diane is you already know 265 00:15:38,400 --> 00:15:42,250 Suze: how it works and then your second question shows that 266 00:15:42,250 --> 00:15:47,160 Suze: you don't know how it works. Remember everyone, there are 267 00:15:47,160 --> 00:15:50,860 Suze: two parts to a series I bond 268 00:15:51,240 --> 00:15:55,530 Suze: The first part is a fixed interest rate that never 269 00:15:55,540 --> 00:16:00,960 Suze: ever really changes and that currently is at 0%. 270 00:16:02,440 --> 00:16:03,960 Suze: The second rate 271 00:16:04,340 --> 00:16:09,160 Suze: Is your inflation rate which as we speak right now 272 00:16:09,180 --> 00:16:13,960 Suze: is 9.62% every May one 273 00:16:14,340 --> 00:16:18,960 Suze: And every November one. The new rate is set for 274 00:16:18,960 --> 00:16:21,450 Suze: the next six months. 275 00:16:21,940 --> 00:16:25,080 Suze: Right? It can go up and it can go down 276 00:16:25,090 --> 00:16:28,840 Suze: or it can stay the same. So Diane, what will 277 00:16:28,840 --> 00:16:30,060 Suze: happen is 278 00:16:30,540 --> 00:16:34,240 Suze: When you buy an I bond and let's say you bought 279 00:16:34,240 --> 00:16:38,060 Suze: one right now for 9.62%. 280 00:16:38,540 --> 00:16:41,590 Suze: You will only get for the next six months from 281 00:16:41,590 --> 00:16:42,650 Suze: today's date, 282 00:16:43,140 --> 00:16:48,950 Suze: 4.86% on that money. Because it's only guaranteed for those 283 00:16:48,950 --> 00:16:50,850 Suze: six months, really 284 00:16:51,640 --> 00:16:56,220 Suze: Six months from now. Whatever the new rate they happen 285 00:16:56,220 --> 00:17:00,890 Suze: to assign on November one, you will get that new rate. 286 00:17:00,890 --> 00:17:04,170 Suze: But again, the rates are only good for six months. 287 00:17:04,640 --> 00:17:10,420 Suze: So even though it may say that it's 9.6, or 10%, 288 00:17:10,430 --> 00:17:16,240 Suze: you actually only get half of that because the 9.62% 289 00:17:16,250 --> 00:17:17,860 Suze: is an annual rate. 290 00:17:18,400 --> 00:17:21,290 Suze: But it's only guaranteed for six months. So you only 291 00:17:21,290 --> 00:17:22,560 Suze: get half of it. 292 00:17:23,340 --> 00:17:29,500 Suze: So you cannot lock in that rate forever. You only 293 00:17:29,500 --> 00:17:32,670 Suze: get that rate for six months 294 00:17:33,040 --> 00:17:36,430 Suze: from the date that you bought your bond. And then 295 00:17:36,430 --> 00:17:38,800 Suze: you get the new rate that was set in either 296 00:17:38,800 --> 00:17:42,129 Suze: May or November for the next six months and it 297 00:17:42,130 --> 00:17:43,670 Suze: keeps going like 298 00:17:43,680 --> 00:17:44,150 Suze: that. 299 00:17:44,359 --> 00:17:47,200 KT: Next one is from Anne I'm in the process of 300 00:17:47,200 --> 00:17:50,050 KT: getting an I bond in the name of my trust. 301 00:17:50,440 --> 00:17:53,560 KT: I already have two I bonds in my name. 302 00:17:54,040 --> 00:17:57,590 KT: When I first opened my Treasury account, I needed a 303 00:17:57,590 --> 00:18:03,240 KT: medallion verification, I am opening the trust I bond account 304 00:18:03,240 --> 00:18:08,090 KT: under my social security number but they are requiring another 305 00:18:08,109 --> 00:18:10,659 KT: medallion certification. 306 00:18:11,040 --> 00:18:14,140 KT: This is not easy to get. My question is general. 307 00:18:14,150 --> 00:18:19,790 KT: Why do we need medallion certifications. When a notary is 308 00:18:19,790 --> 00:18:21,170 KT: not sufficient? 309 00:18:21,210 --> 00:18:23,360 Suze: because a notary 310 00:18:23,740 --> 00:18:27,879 Suze: does not know for sure that you have an account 311 00:18:27,890 --> 00:18:30,520 Suze: at the bank that you say. You do 312 00:18:30,590 --> 00:18:34,070 KT: wait. Let's tell everyone what a medallion certification is. 313 00:18:34,070 --> 00:18:37,450 Suze: And KT, we had to get one. Let's tell everybody 314 00:18:37,450 --> 00:18:41,580 Suze: what it is. Not everybody needs one. But if you 315 00:18:41,580 --> 00:18:43,450 Suze: happen to be purchasing one 316 00:18:43,640 --> 00:18:45,050 Suze: and there's something 317 00:18:45,140 --> 00:18:48,449 Suze: that the Treasury direct dot gov, people want to know 318 00:18:48,450 --> 00:18:52,359 Suze: that Absolutely. This is your account. 319 00:18:52,840 --> 00:18:56,660 Suze: You have to go in to the bank that you 320 00:18:56,660 --> 00:18:58,770 Suze: have the money and usually, 321 00:18:59,440 --> 00:19:02,169 Suze: and get a medallion or a stamp 322 00:19:02,540 --> 00:19:06,530 Suze: from that bank that verifies. Yes, you are who you 323 00:19:06,530 --> 00:19:10,850 Suze: say you are and yes, you have money at their bank. 324 00:19:11,440 --> 00:19:14,250 Suze: They want to know that. And the reason they want 325 00:19:14,250 --> 00:19:17,390 Suze: to know that is that these interest rates and series 326 00:19:17,400 --> 00:19:22,169 Suze: I bonds are such a great deal, especially right now 327 00:19:22,940 --> 00:19:26,860 Suze: everybody wants them and it would be really easy for 328 00:19:26,859 --> 00:19:33,130 Suze: people to launder money in these. If verification wasn't absolutely 329 00:19:33,130 --> 00:19:36,160 Suze: necessary as to who you are and that you have 330 00:19:36,160 --> 00:19:36,770 Suze: a bank. 331 00:19:37,240 --> 00:19:41,250 Suze: So it's what they require to make sure that you are, 332 00:19:41,250 --> 00:19:43,939 Suze: who you say you are. Don't feel bad about it. 333 00:19:43,940 --> 00:19:47,260 Suze: KT and myself had to do that as well. 334 00:19:48,040 --> 00:19:51,159 KT: Listen to the next question. Everyone, this is from Tim 335 00:19:51,640 --> 00:19:54,640 KT: and and to that point, my wife and I tried 336 00:19:54,640 --> 00:19:58,960 KT: to establish a Treasury direct account for her. But for 337 00:19:58,960 --> 00:20:03,550 KT: some reason they required certification by mail for her account. 338 00:20:04,140 --> 00:20:06,680 KT: I am concerned it won't be approved by the end 339 00:20:06,680 --> 00:20:10,480 KT: of April, I've reached my annual limit in I bonds 340 00:20:10,480 --> 00:20:13,840 KT: for my account. Can I purchase I bonds as a 341 00:20:13,850 --> 00:20:18,150 KT: gift in my account then give them to her once 342 00:20:18,150 --> 00:20:19,859 KT: her account is open. 343 00:20:20,240 --> 00:20:23,180 KT: I'm worried we'll miss the current rate If we have 344 00:20:23,180 --> 00:20:26,470 KT: to wait for her account to officially be opened by 345 00:20:26,470 --> 00:20:27,770 KT: Treasury Direct. 346 00:20:27,780 --> 00:20:31,080 Suze: Yeah. See Tim what you have to understand and obviously 347 00:20:31,080 --> 00:20:35,359 Suze: this was written before May 1st. Yeah he wrote this 348 00:20:35,359 --> 00:20:38,720 Suze: in the end of April. Don't worry about it, honest 349 00:20:38,720 --> 00:20:41,820 Suze: to God. It's not that big of a deal. What's 350 00:20:41,820 --> 00:20:46,350 Suze: important to know is that just do what Treasury Direct 351 00:20:46,350 --> 00:20:49,770 Suze: dot gov? Every one of you make sure that when 352 00:20:49,770 --> 00:20:52,850 Suze: you open up an account you're opening it up at 353 00:20:52,850 --> 00:20:57,330 Suze: Treasury Direct dot gov. Make sure that you have spelled 354 00:20:57,330 --> 00:21:00,050 Suze: it correctly and that it is the official 355 00:21:00,240 --> 00:21:01,050 Suze: website. 356 00:21:01,240 --> 00:21:04,350 Suze: Don't go to Treasury Direct dot com or whatever. You 357 00:21:04,350 --> 00:21:07,230 Suze: never know when there are scammers out there. But if 358 00:21:07,230 --> 00:21:11,780 Suze: Treasury Direct dot Gov is asking you or your wife 359 00:21:11,790 --> 00:21:17,540 Suze: for information, give it to them in terms of missing out. 360 00:21:17,550 --> 00:21:22,179 Suze: You didn't miss out on anything. She will simply open 361 00:21:22,180 --> 00:21:26,830 Suze: up the account when she can she will get the 9.62% 362 00:21:26,840 --> 00:21:27,669 Suze: interest rate. 363 00:21:28,140 --> 00:21:32,520 Suze: And depending on what they change November 1st two she 364 00:21:32,520 --> 00:21:35,380 Suze: may get more. She may get less. Who cares but 365 00:21:35,380 --> 00:21:40,139 Suze: she's fine. It's not a big deal tim number one. 366 00:21:40,150 --> 00:21:44,020 Suze: Number two, if you were to open up one in 367 00:21:44,020 --> 00:21:48,060 Suze: your account, you would have to open up a new account. 368 00:21:48,540 --> 00:21:49,560 Suze: You cannot 369 00:21:50,040 --> 00:21:54,899 Suze: and I repeat, you cannot add money to an account 370 00:21:54,900 --> 00:21:56,460 Suze: you already have. 371 00:21:57,240 --> 00:22:01,119 Suze: So when you purchase a series I bond and let's 372 00:22:01,119 --> 00:22:04,680 Suze: say you wanted to purchase one every month for $100, 373 00:22:04,680 --> 00:22:07,860 Suze: let's just say that's true. Every month. 374 00:22:08,340 --> 00:22:11,670 Suze: You have to purchase a new bond 375 00:22:12,040 --> 00:22:16,060 Suze: with a new serial number. With a new maturity. You 376 00:22:16,060 --> 00:22:19,560 Suze: can't add to one that you already have, 377 00:22:20,140 --> 00:22:23,560 Suze: so you wouldn't have been able to do it anyway. Alright, 378 00:22:24,040 --> 00:22:27,800 KT: next question is from Betty Ready. This is going back 379 00:22:27,810 --> 00:22:28,359 KT: to 380 00:22:28,740 --> 00:22:33,340 KT: a previous one about the ownership ready Suze. When investing 381 00:22:33,340 --> 00:22:37,360 KT: in I bonds. You spoke of three different options. I 382 00:22:37,359 --> 00:22:43,170 KT: have questions about the consequences of death of owner sole. 383 00:22:43,840 --> 00:22:48,060 KT: Primary, the secondary has control any time. 384 00:22:48,540 --> 00:22:53,750 KT: Beneficiary has the control only upon death. So I don't 385 00:22:53,750 --> 00:22:56,149 KT: understand really how you're going to answer. Take a look at. 386 00:22:56,150 --> 00:23:00,100 Suze: So I in essence, KT did answer that question. But 387 00:23:00,100 --> 00:23:01,280 Suze: again, the 388 00:23:01,280 --> 00:23:05,540 Suze: only downside honest to god of series I bonds is 389 00:23:05,540 --> 00:23:07,560 Suze: that you cannot make 390 00:23:07,740 --> 00:23:09,959 Suze: a trust the beneficiary. 391 00:23:10,840 --> 00:23:14,359 Suze: So therefore, if you are a sole owner and you 392 00:23:14,359 --> 00:23:19,120 Suze: do not name a beneficiary or a secondary owner, you die. 393 00:23:19,130 --> 00:23:23,909 Suze: It goes into your estate and your will will govern 394 00:23:23,910 --> 00:23:25,450 Suze: who gets that money. 395 00:23:25,940 --> 00:23:28,609 Suze: But it will have to go through probate. In most 396 00:23:28,609 --> 00:23:35,360 Suze: cases a primary owner that has a secondary has control, 397 00:23:36,040 --> 00:23:40,340 Suze: meaning that if you die, they can take it over 398 00:23:40,350 --> 00:23:44,910 Suze: as their own. They cannot sell or do anything with 399 00:23:44,910 --> 00:23:49,869 Suze: it while you are still alive. However you die, they 400 00:23:49,869 --> 00:23:52,560 Suze: get to take it over as their own or they 401 00:23:52,560 --> 00:23:55,560 Suze: can take out the money if they want as well. 402 00:23:56,340 --> 00:24:02,540 Suze: A beneficiary has absolutely no control whatsoever. You die, they 403 00:24:02,550 --> 00:24:07,800 Suze: automatically get the money. However, it does not go through probate. 404 00:24:07,810 --> 00:24:10,670 Suze: The secondary does not go through probate. 405 00:24:11,040 --> 00:24:13,859 Suze: If you open this up as a trust 406 00:24:15,070 --> 00:24:16,859 Suze: again, your trust 407 00:24:17,740 --> 00:24:21,500 Suze: already says where it's to go. So if you die 408 00:24:21,510 --> 00:24:25,960 Suze: owning it in trust, it avoids probate. There you go. 409 00:24:27,040 --> 00:24:30,100 KT: All right. Next question from what was that little look 410 00:24:30,100 --> 00:24:33,310 KT: for was like, whoa. Too much information. 411 00:24:33,350 --> 00:24:36,270 Suze: Here's the problem. Everybody with KT 412 00:24:36,640 --> 00:24:39,409 Suze: KT likes my answers to be short. 413 00:24:39,420 --> 00:24:42,460 KT: No, just one piece of information. 414 00:24:42,840 --> 00:24:46,120 KT: There's many times that Suze gives an answer that has 415 00:24:46,119 --> 00:24:51,290 KT: options or a variety of choice was her question to me. 416 00:24:51,290 --> 00:24:54,180 KT: I know, but I think it's still confusing when we 417 00:24:54,180 --> 00:24:57,879 KT: give too many choices and we're not giving too many 418 00:24:57,880 --> 00:25:00,359 KT: choices what you can do 419 00:25:00,840 --> 00:25:03,240 Suze: and people need to know the difference. This is why 420 00:25:03,240 --> 00:25:03,950 Suze: we're doing 421 00:25:04,140 --> 00:25:05,930 Suze: a podcast on series I bonds 422 00:25:05,930 --> 00:25:08,750 KT: better do a couple of these. Here's the next question. 423 00:25:08,760 --> 00:25:13,710 KT: This is from David. Suze. Now ready for this one. Suze. 424 00:25:13,720 --> 00:25:17,590 KT: Now that it's May, when should I see the dividend 425 00:25:17,590 --> 00:25:20,850 KT: For my series. I bond that I bought last month. 426 00:25:21,240 --> 00:25:24,840 KT: I'm going to answer that David. It doesn't work that way. 427 00:25:24,850 --> 00:25:28,770 KT: It's not like interest bearing, checking accounts or saving. 428 00:25:29,140 --> 00:25:30,460 KT: It's an I bond, 429 00:25:30,940 --> 00:25:33,460 KT: you get the dividend annually, 430 00:25:33,480 --> 00:25:35,030 Suze: you never get the dividend, 431 00:25:35,030 --> 00:25:36,359 KT: you don't get a dividend. 432 00:25:37,640 --> 00:25:42,770 Suze: So glad KT answered that for you. David. David, listen 433 00:25:42,780 --> 00:25:46,570 Suze: in I bond is not like another kind of a 434 00:25:46,570 --> 00:25:51,220 Suze: bond where every six months you get your interest I 435 00:25:51,220 --> 00:25:57,330 Suze: bonds pay interest. They do not pay dividends, they pay interest. 436 00:25:57,330 --> 00:25:58,760 Suze: So that's the first thing 437 00:25:59,540 --> 00:26:02,060 Suze: when you buy an I Bond , 438 00:26:02,440 --> 00:26:05,670 Suze: your interest is not going to show up in your 439 00:26:05,670 --> 00:26:09,960 Suze: account for the first four months at least. 440 00:26:10,340 --> 00:26:14,330 Suze: And the reason that is is that they automatically when 441 00:26:14,330 --> 00:26:19,070 Suze: they post interest, they assume that you want to know 442 00:26:19,080 --> 00:26:21,680 Suze: how much money you are going to get if you 443 00:26:21,680 --> 00:26:23,859 Suze: redeem this bond, 444 00:26:24,240 --> 00:26:27,690 Suze: remember in the very first year you can't redeem it 445 00:26:27,700 --> 00:26:30,879 Suze: anyway and in years two through five there's a three 446 00:26:30,880 --> 00:26:36,040 Suze: month interest penalty. So they will always assume the interest 447 00:26:36,040 --> 00:26:36,859 Suze: penalty 448 00:26:37,240 --> 00:26:40,500 Suze: has been applied. So you're not going to see any 449 00:26:40,510 --> 00:26:46,230 Suze: interest accruing in your account for at least four months. 450 00:26:46,240 --> 00:26:50,220 Suze: So don't freak out. It's just how they 451 00:26:50,230 --> 00:26:51,310 Suze: do it. So 452 00:26:51,310 --> 00:26:53,640 Suze: you're not going to see anything for four months in 453 00:26:53,640 --> 00:26:54,890 Suze: this account of years. 454 00:26:54,900 --> 00:26:57,160 KT: Alright, alright next is from Cathy. 455 00:26:57,540 --> 00:27:00,110 KT: I see the C. P. I. Rates for I bonds 456 00:27:00,109 --> 00:27:00,780 KT: went up 457 00:27:00,790 --> 00:27:02,669 Suze: C. P. I. Stands for what KT? 458 00:27:02,670 --> 00:27:03,960 KT: consumer 459 00:27:04,940 --> 00:27:06,380 KT: consumer 460 00:27:08,740 --> 00:27:11,050 KT: consumer price 461 00:27:11,440 --> 00:27:12,340 KT: interest. 462 00:27:13,830 --> 00:27:15,159 Suze: Oh God. 463 00:27:15,640 --> 00:27:18,650 KT: I know I got the C. Word right, alright I 464 00:27:18,650 --> 00:27:21,160 KT: see these are 30 year bonds. 465 00:27:21,540 --> 00:27:24,240 KT: I'm 55. I don't think I want to wait 30 466 00:27:24,240 --> 00:27:27,560 KT: years to cash it in. What would you think is 467 00:27:27,560 --> 00:27:31,060 KT: the sensible length of time to hold on to this 468 00:27:31,060 --> 00:27:35,159 KT: before cashing in? If you're not desperate for the money 469 00:27:35,540 --> 00:27:39,690 Suze: that my dear will depend on what interest rates are doing. 470 00:27:39,790 --> 00:27:43,850 Suze: I have I bonds that go all the way back 471 00:27:44,640 --> 00:27:46,950 Suze: and I'm so thrilled that I kept them 472 00:27:47,440 --> 00:27:50,600 Suze: Because over the long run I've really averaged even though 473 00:27:50,600 --> 00:27:53,100 Suze: some of the years I made 0% believe it or, 474 00:27:53,100 --> 00:27:57,760 Suze: not I've made a lot of money on these bonds 475 00:27:57,760 --> 00:27:59,860 Suze: and I'm keeping the money in there 476 00:28:00,340 --> 00:28:04,699 Suze: So you don't have to keep them for 30 years 477 00:28:04,710 --> 00:28:08,000 Suze: you can take any money out you want or redeem 478 00:28:08,000 --> 00:28:12,560 Suze: them after five years. Any amount of money, any amount 479 00:28:12,560 --> 00:28:16,340 Suze: of money you want after five years without any interest 480 00:28:16,340 --> 00:28:18,359 Suze: penalty whatsoever. 481 00:28:18,940 --> 00:28:22,060 Suze: So we just have to see how long inflation stays 482 00:28:22,070 --> 00:28:25,970 Suze: up there. You just have to look at what you 483 00:28:25,970 --> 00:28:29,130 Suze: need from your money. Do you like the interest rate 484 00:28:29,130 --> 00:28:33,100 Suze: that these bonds are giving you especially because their tax deferred. 485 00:28:33,109 --> 00:28:37,500 Suze: So your interest is also compounding and make a decision 486 00:28:37,500 --> 00:28:38,670 Suze: at that time. 487 00:28:39,060 --> 00:28:41,260 Suze: And remember after the first year 488 00:28:41,440 --> 00:28:44,460 Suze: if you want to take money out again any time 489 00:28:44,460 --> 00:28:48,360 Suze: between year two and five. There's what? KT? 490 00:28:49,240 --> 00:28:50,460 KT: A three year. 491 00:28:50,840 --> 00:28:52,330 KT: A three. Right. 492 00:28:52,340 --> 00:28:57,090 Suze: It's a three-month interest penalty. What is wrong to you? 493 00:28:57,100 --> 00:28:57,860 Suze: Is 494 00:28:58,440 --> 00:29:01,670 Suze: has this become your new block versus Roth? 495 00:29:02,440 --> 00:29:05,070 Suze: Is this like has this replaced ROTH? 496 00:29:05,730 --> 00:29:11,840 KT: It's close. It's close. Next question. Wait, Alright. Answer that. 497 00:29:11,850 --> 00:29:13,090 Suze: I just did. 498 00:29:13,100 --> 00:29:14,950 KT: That's the answer. Suze. Three months. 499 00:29:17,740 --> 00:29:21,230 Suze: Go on interest penalty. Right. If I ask her that 500 00:29:21,230 --> 00:29:23,980 Suze: again in an hour, let's see if she gets it. 501 00:29:23,990 --> 00:29:24,420 Suze: All right. 502 00:29:24,420 --> 00:29:28,590 KT: This next question is from Shannon and after this entire 503 00:29:28,600 --> 00:29:33,960 KT: ask Suze about I bonds seminar. I can answer this one. 504 00:29:34,790 --> 00:29:37,680 Suze: Wait, let's take bets. Let's take bets. 50 bucks. 50 bucks. 505 00:29:37,680 --> 00:29:39,430 Suze: Who wants to put 50 bucks on it. Take on 506 00:29:39,430 --> 00:29:41,200 Suze: or take 100. All right, 200 507 00:29:42,610 --> 00:29:46,790 KT: Shannon's really, really excited. She said I bought my first series. 508 00:29:46,790 --> 00:29:51,960 KT: I bonds. My question is if I purchase another bond, 509 00:29:52,140 --> 00:29:55,110 KT: Does this get added to the current one I purchased? 510 00:29:55,120 --> 00:30:00,480 KT: Or is this considered a separate I bond answer from KT - 511 00:30:00,490 --> 00:30:04,120 KT: It's got to be a separate I bond. You cannot 512 00:30:04,130 --> 00:30:05,960 KT: add it to the first one. 513 00:30:06,340 --> 00:30:11,520 KT: Second question, when purchasing another I bond, does the holding 514 00:30:11,520 --> 00:30:17,170 KT: period start new again for the new bond purchased? Absolutely, yes. 515 00:30:17,540 --> 00:30:19,930 KT: There you go. Suze, give me some. Ding. Ding. Ding! 516 00:30:19,940 --> 00:30:26,290 KT: Ding Ding. I got it. Right. I know. After this lesson, 517 00:30:26,290 --> 00:30:27,460 KT: I knew the answer. 518 00:30:27,470 --> 00:30:29,880 Suze: And now you tell me KT, how long does she 519 00:30:29,880 --> 00:30:30,770 Suze: have to hold it? 520 00:30:31,540 --> 00:30:32,670 KT: Three? 521 00:30:33,640 --> 00:30:37,060 KT: That's not fair. We just laughed about this. three months. 522 00:30:39,640 --> 00:30:41,160 Suze: And what about the first, 523 00:30:41,170 --> 00:30:43,040 KT: the first year you have to hold it, you can't 524 00:30:43,040 --> 00:30:45,340 KT: touch it for a year and then touch the money. 525 00:30:47,740 --> 00:30:51,910 Suze: Come on, KT, please please don't do this to me. 526 00:30:51,920 --> 00:30:55,860 Suze: Please can't touch it for a year. And then what? 527 00:30:56,440 --> 00:31:03,280 Suze: And then what? Please everybody stand there happening years. What 528 00:31:03,280 --> 00:31:03,960 Suze: through what? 529 00:31:04,940 --> 00:31:06,860 Suze: Years two through 5. What 530 00:31:07,340 --> 00:31:10,360 KT: if you take any money out? There's a 531 00:31:11,040 --> 00:31:14,160 KT: A three Month penalty interest 532 00:31:14,540 --> 00:31:15,860 KT: penalty rate. 533 00:31:16,840 --> 00:31:18,960 Suze: There's a three month interest. 534 00:31:18,960 --> 00:31:20,670 Suze: What is wrong with you? 535 00:31:20,670 --> 00:31:22,980 KT: And what is it? You're too that's it. 536 00:31:22,990 --> 00:31:25,060 Suze: But why is that so difficult? 537 00:31:25,070 --> 00:31:27,230 KT: It isn't. But you're looking at me with this look 538 00:31:27,230 --> 00:31:29,640 KT: like I really should just, it should just roll off 539 00:31:29,650 --> 00:31:35,110 KT: my should, nope. And sorry, this is really confusing this. 540 00:31:35,110 --> 00:31:36,360 KT: I bond business. 541 00:31:36,640 --> 00:31:39,250 Suze: Here's the thing. Everybody just buy them because you're going 542 00:31:39,250 --> 00:31:40,960 Suze: to get a really good return 543 00:31:41,440 --> 00:31:43,590 Suze: and just hold on to it. But this is a 544 00:31:43,600 --> 00:31:51,090 Suze: very interesting phenomenon really everybody, which is KT is brilliant. No, 545 00:31:51,090 --> 00:31:55,440 Suze: I'm not kidding. KT is the one who negotiates every 546 00:31:55,440 --> 00:32:00,280 Suze: one of our contracts for us. These long legal contracts 547 00:32:00,280 --> 00:32:00,550 Suze: with 548 00:32:00,840 --> 00:32:03,580 Suze: this and that and that and this that bore me 549 00:32:03,580 --> 00:32:04,350 Suze: to death. 550 00:32:04,640 --> 00:32:07,040 Suze: And I of course will just give it to the lawyer. 551 00:32:07,050 --> 00:32:11,640 Suze: But we have learned that sometimes KT is actually better 552 00:32:11,640 --> 00:32:14,060 Suze: than the lawyer believe it or not because I don't 553 00:32:14,060 --> 00:32:20,060 Suze: understand anything. But but when it comes to certain topics 554 00:32:20,340 --> 00:32:24,709 Suze: it's like her brain just disconnects. And I don't understand why. 555 00:32:24,710 --> 00:32:25,560 Suze: However 556 00:32:26,240 --> 00:32:29,900 Suze: it does. But it's not a comment on really whether 557 00:32:29,900 --> 00:32:31,730 Suze: KT is intelligent or not. 558 00:32:31,730 --> 00:32:33,860 KT: Test me in a week and I'll know the answer 559 00:32:33,860 --> 00:32:36,650 KT: because you have to let these things sink in. Suze. 560 00:32:36,650 --> 00:32:40,040 Suze: That's all I've been talking about this now for over 561 00:32:40,040 --> 00:32:40,760 Suze: a year. 562 00:32:41,140 --> 00:32:44,350 KT: Well I'm saying it takes a little more than that. 563 00:32:44,360 --> 00:32:45,940 KT: It takes a little time to 564 00:32:45,940 --> 00:32:48,820 Suze: forget it. We're going on. But for those of you 565 00:32:48,820 --> 00:32:49,360 Suze: who keep 566 00:32:49,940 --> 00:32:52,739 Suze: writing and saying I know I should get this. I 567 00:32:52,740 --> 00:32:56,020 Suze: don't get why I don't feel bad. Don't feel bad. 568 00:32:56,030 --> 00:32:58,250 Suze: I live with it. Okay. 569 00:32:58,260 --> 00:33:01,910 KT: No no no it's not you. It's Treasury Direct dot 570 00:33:01,910 --> 00:33:05,740 KT: Gov has got to make the language easier. 571 00:33:05,750 --> 00:33:08,000 Suze: But they've been learning from me. 572 00:33:08,000 --> 00:33:08,770 KT: I know but 573 00:33:08,840 --> 00:33:11,690 KT: they're all learning from the Treasury Direct dot Gov. And 574 00:33:11,690 --> 00:33:14,190 KT: then they're asking you Suze, what does that mean? 575 00:33:14,200 --> 00:33:17,890 Suze: No, they're listening to my podcast and they don't understand it. 576 00:33:17,900 --> 00:33:19,160 KT: Suze, Where's my quizzie? 577 00:33:19,480 --> 00:33:22,720 Suze: KT This whole podcast has been your quizzie 578 00:33:24,440 --> 00:33:29,860 KT: That's not nice Suze. But it's true. I get it. 579 00:33:31,650 --> 00:33:34,770 KT: I have lots of I bonds so I'm getting something right. 580 00:33:35,440 --> 00:33:39,190 Suze: You should see her face everybody. All right. What do 581 00:33:39,190 --> 00:33:40,470 Suze: you want to tell everybody 582 00:33:40,480 --> 00:33:45,730 KT: Be safe, strong and secure and know about I bonds, 583 00:33:45,730 --> 00:33:49,860 Suze: please help me. Bye bye 584 00:34:06,040 --> 00:34:06,270 Music: Music Out