1 00:00:33,740 --> 00:00:39,200 Suze: Hello everybody. It is May 12th 2022 . And welcome 2 00:00:39,210 --> 00:00:40,210 Suze: to 3 00:00:40,220 --> 00:00:44,190 KT: the ask KT ask Suze everything, anything podcast. 4 00:00:44,190 --> 00:00:46,599 Suze: She is in a mood to 5 00:00:46,610 --> 00:00:51,090 KT: Tell everybody why I'm really happy today's May 12 probably 6 00:00:51,090 --> 00:00:52,060 KT: one of the first, 7 00:00:52,240 --> 00:00:55,860 KT: no this is the second visitors day we're having this year, 8 00:00:55,870 --> 00:00:58,590 KT: Easter was the first with all the kids and this 9 00:00:58,590 --> 00:01:01,860 KT: is our good friends Lisa and Jill from California 10 00:01:02,240 --> 00:01:05,920 KT: who have quarantined just so everyone knows for about a 11 00:01:05,920 --> 00:01:09,100 KT: week before they come and visit us because 12 00:01:09,100 --> 00:01:11,290 Suze: they were on a plane and I still have to 13 00:01:11,290 --> 00:01:13,510 Suze: be very careful as to who comes near me 14 00:01:13,510 --> 00:01:16,750 KT: but I'm all excited because Lisa and Jill are so 15 00:01:16,750 --> 00:01:21,030 KT: much fun and I'm making a really giant paella dinner 16 00:01:21,340 --> 00:01:23,090 KT: with all the seafood. We catch 17 00:01:23,100 --> 00:01:27,550 Suze: Yeah we love those women anyway. Alright sweetheart, what do 18 00:01:27,550 --> 00:01:30,440 Suze: you got for me? Oh I Bond 19 00:01:30,440 --> 00:01:32,750 KT: day everybody. 20 00:01:32,760 --> 00:01:34,710 Suze: Wait, wait wait let me talk for a second. 21 00:01:35,209 --> 00:01:38,360 KT: Are you sure? Go ahead. Alright. 22 00:01:39,319 --> 00:01:45,209 Suze: I Bonds Series I Bonds on April 17. I gave 23 00:01:45,209 --> 00:01:50,860 Suze: a master class on the Suze School podcast about I 24 00:01:50,860 --> 00:01:54,550 Suze: bonds which I really believe from the bottom of my heart, 25 00:01:54,740 --> 00:01:59,010 Suze: every single one of you without exception. It does not 26 00:01:59,010 --> 00:02:01,160 Suze: matter who you are out there 27 00:02:01,740 --> 00:02:06,400 Suze: should absolutely purchase a Series I Bond and you do 28 00:02:06,400 --> 00:02:10,570 Suze: so by going to Treasury direct dot gov minimum purchase 29 00:02:10,570 --> 00:02:14,510 Suze: is $25. All the way up to $10,000 which is 30 00:02:14,510 --> 00:02:17,660 Suze: usually the max but if you listen to the podcast 31 00:02:17,660 --> 00:02:21,450 Suze: on April 17th you will learn how you can purchase more. 32 00:02:22,139 --> 00:02:23,250 Suze: However 33 00:02:24,240 --> 00:02:28,760 Suze: even after that master class, we are getting so many 34 00:02:28,760 --> 00:02:33,850 Suze: questions about Series I Bonds and you're all saying I know, 35 00:02:33,850 --> 00:02:36,600 Suze: I know I should know the answer to this question, 36 00:02:36,600 --> 00:02:40,080 Suze: but I just don't. So KT and I both decided 37 00:02:40,090 --> 00:02:43,330 Suze: let's do and ask KT and Suze 38 00:02:43,639 --> 00:02:45,780 Suze: anything about I Bonds. 39 00:02:45,780 --> 00:02:48,070 KT: I just want everyone to know. I don't know the 40 00:02:48,070 --> 00:02:50,150 KT: answers either. I we picked out. 41 00:02:50,840 --> 00:02:53,160 KT: There's so many of these, I said, Suze, I'm going 42 00:02:53,160 --> 00:02:56,329 KT: to call Treasury direct dot Gov and tell them to 43 00:02:56,330 --> 00:03:00,560 KT: listen to this podcast because if people are asking so 44 00:03:00,570 --> 00:03:04,600 KT: many questions, they better figure it out, they better answer them. 45 00:03:04,600 --> 00:03:08,769 Suze: Actually, the truth is KT, all the answers are on 46 00:03:08,780 --> 00:03:12,510 Suze: Treasury direct dot gov. Just people aren't going there to 47 00:03:12,510 --> 00:03:14,660 Suze: look at them. It's really kind of sad, 48 00:03:14,740 --> 00:03:18,330 Suze: but because of that we will still answer your questions 49 00:03:18,340 --> 00:03:20,820 Suze: so let's go girlfriend. Okay, we 50 00:03:20,820 --> 00:03:23,950 KT: have lots of them. But they're really quick. So ready, 51 00:03:24,440 --> 00:03:27,460 KT: Suze, this is from Gwen, when I cash in my 52 00:03:27,460 --> 00:03:31,720 KT: I Bonds, how is the profit taxed as capital gains 53 00:03:31,720 --> 00:03:35,900 KT: or ordinary income can I buy I Bonds with a 54 00:03:35,910 --> 00:03:38,820 KT: retirement account. So, two questions 55 00:03:38,940 --> 00:03:41,860 Suze: First of all, Gwen, you cannot buy 56 00:03:42,140 --> 00:03:45,460 Suze: Series I Bonds within a retirement account. 57 00:03:46,040 --> 00:03:49,060 Suze: It has to be in a person's name, 58 00:03:49,940 --> 00:03:53,800 Suze: your name, a trust name, a business name, but not 59 00:03:53,810 --> 00:03:57,650 Suze: a retirement account. So no, you cannot Two, 60 00:03:58,140 --> 00:04:01,900 Suze: when you cash out listen, everybody actually the proper name 61 00:04:01,910 --> 00:04:03,690 Suze: is when you redeem your I Bond 62 00:04:04,840 --> 00:04:09,190 Suze: you will pay ordinary income tax on any interest that 63 00:04:09,190 --> 00:04:12,960 Suze: you earned on the amount that you are redeeming. 64 00:04:13,340 --> 00:04:17,440 Suze: Just that simple. Please remember when you buy an I Bond 65 00:04:18,640 --> 00:04:21,849 Suze: it is a tax deferred investment. 66 00:04:22,440 --> 00:04:26,580 Suze: So that means that your interest that you are earning. 67 00:04:26,589 --> 00:04:29,930 Suze: You do not pay taxes on it while it stays 68 00:04:29,940 --> 00:04:33,880 Suze: in the I Bond it is tax deferred and that's 69 00:04:33,880 --> 00:04:38,640 Suze: fabulous because then the interest that you've earned starts to 70 00:04:38,650 --> 00:04:41,460 Suze: earn interest and everything starts to compound. 71 00:04:42,339 --> 00:04:44,760 Suze: But when you do redeem 72 00:04:45,839 --> 00:04:48,150 Suze: whatever amount you redeem 73 00:04:48,839 --> 00:04:53,890 Suze: you will owe a portion of that is interest and 74 00:04:53,890 --> 00:04:56,419 Suze: therefore you will owe taxes on it. Now let me 75 00:04:56,420 --> 00:04:57,960 Suze: just give you an example. 76 00:04:58,540 --> 00:05:01,710 Suze: First of all you need to remember that you do 77 00:05:01,710 --> 00:05:05,650 Suze: not have to redeem 100% of your I Bond . 78 00:05:06,339 --> 00:05:10,450 Suze: If you put let's just say $10,000 in it 79 00:05:10,940 --> 00:05:14,560 Suze: And all you want is $2,000, that's fine. 80 00:05:15,339 --> 00:05:20,930 Suze: You just need to then redeem $2,000 and Treasury Direct 81 00:05:20,940 --> 00:05:26,430 Suze: will figure out how much of that $2,000 is principal 82 00:05:26,440 --> 00:05:29,160 Suze: and how much of it is interest 83 00:05:29,740 --> 00:05:35,350 Suze: that's called pro- rating the amount of money that you redeemed. 84 00:05:36,040 --> 00:05:41,730 Suze: So therefore let's just say you withdrew $2000 maybe $70 85 00:05:41,730 --> 00:05:44,440 Suze: of that might be interest or whatever it may be 86 00:05:44,440 --> 00:05:48,360 Suze: and that's what you will owe. Ordinary income tax on. 87 00:05:49,440 --> 00:05:53,360 Suze: Now here's what's really important for you to know 88 00:05:53,740 --> 00:05:55,960 Suze: when you redeem money 89 00:05:56,779 --> 00:05:59,339 Suze: They will send it the next day to the bank 90 00:05:59,339 --> 00:06:01,560 Suze: account that you have linked to 91 00:06:01,940 --> 00:06:06,760 Suze: on your Treasury Direct dot gov account number one. 92 00:06:07,140 --> 00:06:13,030 Suze: Number two, you will owe income taxes on that interest. 93 00:06:13,040 --> 00:06:14,760 Suze: But Treasury Direct 94 00:06:15,140 --> 00:06:20,250 Suze: Will not mail you a 1099 form. Like maybe your 95 00:06:20,260 --> 00:06:22,550 Suze: other financial institutions do 96 00:06:23,140 --> 00:06:26,950 Suze: you will have to go back onto Treasury Direct dot 97 00:06:26,960 --> 00:06:27,460 Suze: gov 98 00:06:27,940 --> 00:06:31,450 Suze: and look to where it says "manage direct." 99 00:06:32,240 --> 00:06:35,760 Suze: Alright, Because you want to manage your Treasury Direct dot 100 00:06:35,760 --> 00:06:38,260 Suze: Gov account. So it says manage direct. 101 00:06:38,740 --> 00:06:41,560 Suze: And then you just scroll down 102 00:06:42,240 --> 00:06:45,830 Suze: now that is where you would go to redeem your 103 00:06:45,839 --> 00:06:48,450 Suze: I Bonds and you would scroll down to where it 104 00:06:48,450 --> 00:06:50,360 Suze: says Redeem Securities. 105 00:06:51,240 --> 00:06:53,250 Suze: Okay, that's where you would do that. 106 00:06:53,640 --> 00:06:54,260 Suze: Now. 107 00:06:54,640 --> 00:06:58,840 Suze: If you've already cashed out, you would go to where 108 00:06:58,839 --> 00:07:01,450 Suze: it says manage my securities 109 00:07:01,839 --> 00:07:04,750 Suze: And then you would look to where it says manage 110 00:07:04,750 --> 00:07:09,560 Suze: my taxes and that is where you will find your 111 00:07:09,560 --> 00:07:12,760 Suze: 1099 for the year 112 00:07:13,140 --> 00:07:16,070 Suze: that you redeemed some of your I Bonds. So you 113 00:07:16,070 --> 00:07:22,460 Suze: know exactly what to report on your taxes. Just that simple. 114 00:07:22,840 --> 00:07:26,210 Suze: Now I get by the look on MS Travis's face, 115 00:07:26,210 --> 00:07:27,550 Suze: KT don't say anything here. 116 00:07:28,340 --> 00:07:30,260 Suze: I know you want to Don't don't 117 00:07:30,940 --> 00:07:35,760 Suze: (Suze laughs) anyway. Right. I know all of this can be complicated. 118 00:07:35,770 --> 00:07:40,150 Suze: So you also could just call Treasury Direct dot Gov 119 00:07:40,160 --> 00:07:43,920 Suze: and ask them any question that you may have. And 120 00:07:43,920 --> 00:07:46,560 Suze: their phone number is 844 121 00:07:47,140 --> 00:07:48,550 Suze: 284 122 00:07:48,940 --> 00:07:54,160 Suze: 2676. It is just that simple. 123 00:07:54,740 --> 00:07:57,380 Suze: So that's what you need to know. Okay enough on 124 00:07:57,380 --> 00:07:59,300 Suze: this now, next question, KT 125 00:07:59,490 --> 00:08:01,460 KT: Suze. Next question is from Barbara 126 00:08:01,840 --> 00:08:05,310 KT: Suze. Can you explain why I need to enter the 127 00:08:05,310 --> 00:08:09,540 KT: banking info and routing number etcetera when I open a 128 00:08:09,540 --> 00:08:11,240 KT: Treasury Direct account? 129 00:08:11,430 --> 00:08:13,450 Suze: Yes. The reason is Barbara 130 00:08:13,840 --> 00:08:17,230 Suze: you may at one day want to redeem these bonds 131 00:08:17,240 --> 00:08:21,200 Suze: or maybe they will mature and Treasury Direct dot Gov 132 00:08:21,200 --> 00:08:26,290 Suze: needs a place that they can automatically send the money 133 00:08:26,290 --> 00:08:28,960 Suze: to when you redeem it. They are not going to 134 00:08:28,960 --> 00:08:31,180 Suze: cut you a check. They are not going to send 135 00:08:31,180 --> 00:08:32,050 Suze: it to your home. 136 00:08:32,140 --> 00:08:33,959 Suze: They are going to send it 137 00:08:34,040 --> 00:08:37,679 Suze: to the bank account that you have registered. So you 138 00:08:37,679 --> 00:08:40,390 Suze: need to tell them how are they going to do 139 00:08:40,390 --> 00:08:40,760 Suze: that 140 00:08:41,140 --> 00:08:43,670 Suze: and they're going to do that by direct routing it 141 00:08:43,670 --> 00:08:47,679 Suze: to your bank account. What's very important - Everybody listen to 142 00:08:47,679 --> 00:08:48,550 Suze: me right now, 143 00:08:48,940 --> 00:08:52,780 Suze: the bank account that you put on Treasury Direct dot 144 00:08:52,780 --> 00:08:55,520 Suze: Gov is a bank account that you need to keep 145 00:08:55,530 --> 00:08:56,760 Suze: forever 146 00:08:57,240 --> 00:08:59,609 Suze: because if you close that account and you go then 147 00:08:59,610 --> 00:09:02,780 Suze: to another bank or whatever it may be, they're not 148 00:09:02,780 --> 00:09:05,590 Suze: going to be able to send it to you when 149 00:09:05,590 --> 00:09:08,550 Suze: you do redeem So the bank account 150 00:09:08,940 --> 00:09:10,460 Suze: that you put down 151 00:09:11,040 --> 00:09:14,550 Suze: has got to be one that you're going to keep forever. 152 00:09:15,640 --> 00:09:17,520 KT: That's really great. Yeah, it can be a 153 00:09:17,520 --> 00:09:20,230 Suze: credit union account, whatever it is. but it's got to 154 00:09:20,230 --> 00:09:22,650 Suze: be one that you're going to keep for that 155 00:09:22,660 --> 00:09:26,230 KT: keep for as long as you've got this I Bond invested. 156 00:09:26,490 --> 00:09:29,730 KT: Right okay. Next is from Mimi 157 00:09:30,240 --> 00:09:33,140 KT: trying to create an account buy I Bonds on Treasury Direct 158 00:09:33,140 --> 00:09:36,209 KT: dot gov but I'm having trouble finding where you put 159 00:09:36,220 --> 00:09:40,599 KT: in a beneficiary. I thought you said you can either 160 00:09:40,610 --> 00:09:45,470 KT: open an individual account or have a second person named 161 00:09:45,470 --> 00:09:50,100 KT: on the account or have a beneficiary. I can't find 162 00:09:50,100 --> 00:09:53,830 KT: where you add the second person or the beneficiary. 163 00:09:53,840 --> 00:09:56,550 Suze: You Mimi and everybody else? 164 00:09:56,840 --> 00:09:58,660 Suze: Not exactly sure why 165 00:09:58,840 --> 00:10:02,510 Suze: Treasury Direct dot gov kinda makes it a little complicated. 166 00:10:02,640 --> 00:10:05,160 Suze: But here's what you all need to know 167 00:10:05,840 --> 00:10:09,410 Suze: if you're buying an I Bond for the first time 168 00:10:09,460 --> 00:10:13,140 Suze: in a personal account let's say that's true. You need 169 00:10:13,140 --> 00:10:17,679 Suze: to create a registration which means you want the I 170 00:10:17,679 --> 00:10:22,290 Suze: Bonds to have just yourself as the only owner. You 171 00:10:22,290 --> 00:10:26,069 Suze: as the primary owner and another person as the secondary 172 00:10:26,070 --> 00:10:29,760 Suze: owner or you as the owner and another person as 173 00:10:29,760 --> 00:10:33,410 Suze: the beneficiary. But you do that not when you first 174 00:10:33,420 --> 00:10:37,300 Suze: open up your account you open up your account and 175 00:10:37,300 --> 00:10:40,069 Suze: then as you go down you have to look for 176 00:10:40,070 --> 00:10:43,459 Suze: a thing that says registration information 177 00:10:43,840 --> 00:10:47,110 Suze: and when you click on there you will see that 178 00:10:47,110 --> 00:10:51,290 Suze: you have three options. There's like three little things that 179 00:10:51,290 --> 00:10:52,060 Suze: you can click 180 00:10:52,440 --> 00:10:56,590 Suze: whether it's a sole owner, a primary owner or a 181 00:10:56,590 --> 00:11:01,220 Suze: beneficiary and then you simply fill in the information that 182 00:11:01,220 --> 00:11:04,079 Suze: comes up. They're gonna ask you the for the first 183 00:11:04,080 --> 00:11:07,340 Suze: middle and last name of the beneficiary or the secondary 184 00:11:07,340 --> 00:11:09,150 Suze: owner and so on and so forth. 185 00:11:09,540 --> 00:11:15,559 Suze: Now again remember this. You choose the sole owner. 186 00:11:16,140 --> 00:11:20,219 Suze: If you want yourself as the only owner with neither 187 00:11:20,230 --> 00:11:24,510 Suze: a secondary owner nor a beneficiary, why you would do 188 00:11:24,510 --> 00:11:25,859 Suze: that is beyond me 189 00:11:26,340 --> 00:11:27,699 KT: why you would do what? 190 00:11:27,710 --> 00:11:29,990 Suze: choose just you want to be a sole owner. 191 00:11:30,070 --> 00:11:30,810 KT: Because 192 00:11:30,809 --> 00:11:34,550 Suze: KT, if you're a sole owner you die, who's going 193 00:11:34,550 --> 00:11:35,390 Suze: to get this money? 194 00:11:35,390 --> 00:11:37,750 KT: So let me ask you that if you don't fill 195 00:11:37,750 --> 00:11:39,560 KT: it in what happens to the money? 196 00:11:39,940 --> 00:11:41,410 Suze: what do you mean if you don't feel it in? 197 00:11:41,420 --> 00:11:43,050 Suze: Let's say you choose the sole owner, 198 00:11:43,050 --> 00:11:46,490 KT: choose sole owner and there's nothing else that you add 199 00:11:46,490 --> 00:11:47,290 KT: what happens? 200 00:11:47,290 --> 00:11:49,309 Suze: It goes to your estate and it goes through probate 201 00:11:49,309 --> 00:11:50,170 KT: Oh. 202 00:11:51,130 --> 00:11:53,650 Suze: Why would you want that to happen? 203 00:11:54,040 --> 00:11:58,340 Suze: You choose a primary owner which is what we have. Katie. 204 00:11:58,350 --> 00:12:02,810 Suze: You choose a primary owner if you want yourself as 205 00:12:02,809 --> 00:12:08,370 Suze: the primary owner with another person at the secondary owner. 206 00:12:08,420 --> 00:12:11,890 KT: And a secondary owner is more or less like the beneficiary. 207 00:12:11,900 --> 00:12:14,160 Suze: It's not only the beneficiary 208 00:12:14,240 --> 00:12:17,179 Suze: but they take and take over the account as if 209 00:12:17,179 --> 00:12:18,709 Suze: it was their own 210 00:12:18,920 --> 00:12:19,740 KT: without 211 00:12:19,740 --> 00:12:20,210 Suze: going to 212 00:12:20,210 --> 00:12:21,220 KT: probate without 213 00:12:21,220 --> 00:12:27,910 Suze: redeeming it without anything. The secondary owner has the ability 214 00:12:27,920 --> 00:12:30,349 Suze: to view the account, check the account. 215 00:12:30,440 --> 00:12:32,920 Suze: It's what you and I both have 216 00:12:32,929 --> 00:12:35,189 KT: it's good for spouses or for who, 217 00:12:35,190 --> 00:12:37,060 Suze: anybody who wants it that way. 218 00:12:37,340 --> 00:12:42,220 Suze: Now you would choose beneficiary if you want yourself as 219 00:12:42,220 --> 00:12:47,660 Suze: the primary owner, with another person as the beneficiary. Now 220 00:12:47,670 --> 00:12:50,850 Suze: the reason you would do it that way is that 221 00:12:50,860 --> 00:12:54,090 Suze: the beneficiary doesn't have a right to view your account. 222 00:12:54,100 --> 00:12:57,540 Suze: If you die, it goes to them, they cannot take 223 00:12:57,540 --> 00:12:59,560 Suze: it over as if it was their own. 224 00:12:59,640 --> 00:13:02,060 Suze: But if you name a beneficiary 225 00:13:02,440 --> 00:13:07,320 Suze: and you die, it avoids probate. Now it's really important 226 00:13:07,320 --> 00:13:09,250 Suze: that you all understand 227 00:13:09,700 --> 00:13:13,520 Suze: that each bond can only have one second owner 228 00:13:14,440 --> 00:13:19,939 Suze: and only one beneficiary, but not both at the same time. 229 00:13:19,950 --> 00:13:24,000 KT: So, Suze, I know this. I know this whole podcast 230 00:13:24,000 --> 00:13:27,550 KT: is making you crazy. But one more question, S uppose 231 00:13:27,559 --> 00:13:32,330 KT: my sister Lynn who has two daughters has a $10,000. 232 00:13:32,340 --> 00:13:33,050 KT: I Bond 233 00:13:33,050 --> 00:13:33,940 Suze: Wants to buy one 234 00:13:34,179 --> 00:13:36,760 KT: and she wants to leave that 235 00:13:37,240 --> 00:13:37,560 KT: to 236 00:13:37,559 --> 00:13:39,390 Suze: both her daughters. Right. 237 00:13:40,679 --> 00:13:41,050 KT: She 238 00:13:41,050 --> 00:13:45,469 Suze: can't do that because everybody, you've got to get this 239 00:13:45,470 --> 00:13:46,860 KT: right. Are 240 00:13:46,860 --> 00:13:55,060 Suze: you listening closely? An I Bond can only have one beneficiary 241 00:13:55,840 --> 00:13:57,959 Suze: per bond. That is it. 242 00:13:58,340 --> 00:14:03,220 Suze: So if Lynn has $10,000, she would have to take 243 00:14:03,220 --> 00:14:06,750 Suze: out one eye bond for $5,000 and leave it to 244 00:14:06,750 --> 00:14:11,510 Suze: one daughter another. I bond for another $5,000 and leave 245 00:14:11,510 --> 00:14:15,559 Suze: it to the other daughter. You cannot have two 246 00:14:15,940 --> 00:14:17,860 Suze: beneficiaries or more 247 00:14:18,640 --> 00:14:22,660 Suze: on an I Bond. Just that simple. All right. If 248 00:14:22,670 --> 00:14:26,800 KT: I open my I Bond and I have a beneficiary. Do 249 00:14:26,800 --> 00:14:30,930 KT: you have to add the beneficiary's name? Social, best everything 250 00:14:31,370 --> 00:14:32,860 Suze: everything to them. All right. 251 00:14:33,240 --> 00:14:40,070 Suze: So trust accounts and business accounts can't buy bonds however 252 00:14:40,080 --> 00:14:44,890 Suze: with a secondary owner or a beneficiary because the trust 253 00:14:44,890 --> 00:14:47,400 Suze: or the business will be the only owner. But the 254 00:14:47,400 --> 00:14:53,060 Suze: trust already says where everything goes. So is that clear everybody? 255 00:14:53,140 --> 00:14:53,640 Suze: Yeah 256 00:14:53,740 --> 00:14:54,550 KT: sort of (KT Laughs) 257 00:14:56,640 --> 00:15:00,540 KT: we're going to do two I Bond classes. Let me keep 258 00:15:00,540 --> 00:15:05,250 KT: asking questions. It gets clearer because these questions really repeat themselves. 259 00:15:05,250 --> 00:15:07,760 KT: Here's here's the next one. This is from Diane. 260 00:15:08,740 --> 00:15:14,620 KT: Suze. Question # one, will I be continuously participating in 261 00:15:14,620 --> 00:15:18,490 KT: the renewal rate that occurs twice a year. May one 262 00:15:18,490 --> 00:15:21,340 KT: in November one. I wait a minute. 263 00:15:22,140 --> 00:15:25,810 KT: I understand. The rates may change based on C.P.I . 264 00:15:25,810 --> 00:15:30,180 KT: And some years my money may earn 0% and I'm 265 00:15:30,180 --> 00:15:31,350 KT: okay with that. 266 00:15:31,740 --> 00:15:32,750 KT: Is that true? 267 00:15:33,510 --> 00:15:34,010 Suze: OIt's possible, ye. 268 00:15:34,020 --> 00:15:37,510 KT: Question two, will I be able to lock in the 269 00:15:37,510 --> 00:15:40,560 KT: rates on bonds that I already purchased? 270 00:15:40,940 --> 00:15:44,540 Suze: Alright, so what's funny here Diane is you already know 271 00:15:44,540 --> 00:15:48,390 Suze: how it works and then your second question shows that 272 00:15:48,390 --> 00:15:50,380 Suze: you don't know how it works. 273 00:15:50,390 --> 00:15:52,130 KT: Remember 274 00:15:52,140 --> 00:15:57,240 Suze: Everyone there are two parts to a Series I Bond 275 00:15:57,250 --> 00:16:01,660 Suze: the first part is a fixed interest rate that never 276 00:16:01,670 --> 00:16:07,060 Suze: ever really changes and that currently is at 0%. 277 00:16:08,540 --> 00:16:13,870 Suze: The second rate is your inflation rate which as we 278 00:16:13,870 --> 00:16:21,350 Suze: speak right now is 9.62%. Every May first and every 279 00:16:21,360 --> 00:16:25,930 Suze: November first. The new rate is set for the next 280 00:16:25,940 --> 00:16:27,560 Suze: six months. 281 00:16:27,940 --> 00:16:31,200 Suze: Right? It can go up and it can go down 282 00:16:31,210 --> 00:16:34,960 Suze: or it can stay the same. So Diane, what will 283 00:16:34,960 --> 00:16:39,890 Suze: happen is when you buy an I Bond and let's say 284 00:16:39,890 --> 00:16:44,260 Suze: you bought one right now for 9.62%. 285 00:16:44,640 --> 00:16:47,710 Suze: You will only get for the next six months from 286 00:16:47,710 --> 00:16:54,600 Suze: today's date. 4.86% on that money because it's only guaranteed 287 00:16:54,600 --> 00:16:57,060 Suze: for those six months really 288 00:16:57,720 --> 00:17:02,370 Suze: Six months from now. Whatever the new rate they happened 289 00:17:02,370 --> 00:17:07,010 Suze: to assign on November first, you will get that new rate. 290 00:17:07,010 --> 00:17:10,270 Suze: But again, the rates are only good for six months. 291 00:17:10,840 --> 00:17:16,560 Suze: So even though it may say that it's 9.62% or 10%. 292 00:17:16,570 --> 00:17:22,369 Suze: You actually only get half of that because the 9.62% 293 00:17:22,380 --> 00:17:24,060 Suze: is an annual rate. 294 00:17:24,540 --> 00:17:27,409 Suze: But it's only guaranteed for six months. So you only 295 00:17:27,410 --> 00:17:28,770 Suze: get half of it. 296 00:17:29,440 --> 00:17:35,620 Suze: So you cannot lock in that rate forever. You only 297 00:17:35,619 --> 00:17:40,190 Suze: get that rate for six months from the date that 298 00:17:40,190 --> 00:17:43,440 Suze: you bought your bond. And then you get the new 299 00:17:43,440 --> 00:17:46,439 Suze: rate that was set in either May or November for 300 00:17:46,440 --> 00:17:50,260 Suze: the next six months and it keeps going like that. 301 00:17:50,540 --> 00:17:53,340 KT: Next one is from Ann I'm in the process of 302 00:17:53,340 --> 00:17:56,170 KT: getting an I Bond in the name of my trust 303 00:17:56,640 --> 00:17:59,760 KT: I already have two I Bonds in my name. 304 00:18:00,140 --> 00:18:03,720 KT: When I first opened my Treasury account, I needed a 305 00:18:03,720 --> 00:18:09,370 KT: medallion verification. I am opening the Trust I Bond account 306 00:18:09,369 --> 00:18:14,200 KT: under my Social Security number. But they are requiring another 307 00:18:14,250 --> 00:18:16,760 KT: medallion certification. 308 00:18:17,140 --> 00:18:20,260 KT: This is not easy to get. My question is general. 309 00:18:20,270 --> 00:18:25,909 KT: Why do we need medallion certifications when a notary is 310 00:18:25,910 --> 00:18:27,310 KT: not sufficient? 311 00:18:27,330 --> 00:18:32,720 Suze: Because a notary does not know for sure that you 312 00:18:32,720 --> 00:18:34,560 Suze: have an account at the 313 00:18:34,640 --> 00:18:36,550 Suze: bank that you say you do. 314 00:18:36,560 --> 00:18:40,200 KT: Wait, wait. Let's tell everyone what a medallion certification is. 315 00:18:40,200 --> 00:18:41,899 Suze: And KT, we had to get one. 316 00:18:42,320 --> 00:18:43,919 KT: Let's tell everybody what it 317 00:18:43,920 --> 00:18:44,450 Suze: is. 318 00:18:44,540 --> 00:18:46,670 Suze: Not everybody needs one. 319 00:18:47,040 --> 00:18:50,340 Suze: But if you happen to be purchasing one and there's 320 00:18:50,340 --> 00:18:54,220 Suze: something that the Treasury Direct dot gov, people want to 321 00:18:54,220 --> 00:18:58,460 Suze: know that absolutely. This is your account. 322 00:18:58,940 --> 00:19:02,060 Suze: You have to go in to the bank 323 00:19:02,440 --> 00:19:04,960 Suze: that you have the money in usually 324 00:19:05,640 --> 00:19:09,860 Suze: and get a medallion or a stamp from that bank 325 00:19:09,859 --> 00:19:13,580 Suze: that verifies Yes, you are who you say you are. 326 00:19:13,590 --> 00:19:17,060 Suze: And yes, you have money at their bank. 327 00:19:17,540 --> 00:19:20,379 Suze: They want to know that. And the reason they want 328 00:19:20,380 --> 00:19:23,520 Suze: to know that is that these interest rates in Series 329 00:19:23,530 --> 00:19:28,270 Suze: I Bonds are such a great deal, especially right now 330 00:19:29,040 --> 00:19:32,990 Suze: everybody wants them. And it would be really easy for 331 00:19:32,990 --> 00:19:39,250 Suze: people to launder money in these if verification wasn't absolutely 332 00:19:39,250 --> 00:19:42,290 Suze: necessary as to who you are and that you have 333 00:19:42,290 --> 00:19:42,960 Suze: a bank. 334 00:19:43,340 --> 00:19:47,370 Suze: So it's what they require to make sure that you are, 335 00:19:47,369 --> 00:19:50,070 Suze: who you say you are. Don't feel bad about it. 336 00:19:50,070 --> 00:19:53,359 Suze: KT and myself had to do that as well. 337 00:19:54,140 --> 00:19:57,260 KT: Listen to the next question. Everyone this is from Tim 338 00:19:57,740 --> 00:20:00,770 KT: and and to that point my wife and I tried 339 00:20:00,770 --> 00:20:05,090 KT: to establish a Treasury Direct account for her but for 340 00:20:05,090 --> 00:20:09,770 KT: some reason they required certification by mail for her account. 341 00:20:10,240 --> 00:20:12,810 KT: I am concerned it won't be approved by the end 342 00:20:12,810 --> 00:20:16,600 KT: of April. I've reached my annual limit in I Bonds 343 00:20:16,600 --> 00:20:19,970 KT: for my account. Can I purchase I bonds as a 344 00:20:19,980 --> 00:20:24,280 KT: gift in my account then give them to her once 345 00:20:24,280 --> 00:20:28,550 KT: her account is open. I'm worried we'll miss the current rate. 346 00:20:28,570 --> 00:20:30,760 KT: If we have to wait for her account 347 00:20:31,040 --> 00:20:33,910 KT: to officially be opened by Treasury Direct. 348 00:20:33,920 --> 00:20:37,210 Suze: Yeah. See Tim What you have to understand and obviously 349 00:20:37,210 --> 00:20:40,090 Suze: this was written before May 1st. 350 00:20:40,100 --> 00:20:42,790 KT: Yeah, he wrote this in the end of April. 351 00:20:42,800 --> 00:20:46,070 Suze: Don't worry about it honest to God, it's not that 352 00:20:46,070 --> 00:20:50,369 Suze: big of a deal. What's important to know is that 353 00:20:50,380 --> 00:20:53,180 Suze: just do what Treasury Direct dot gov. 354 00:20:53,340 --> 00:20:56,399 Suze: Every one of you make sure that when you open 355 00:20:56,400 --> 00:21:00,699 Suze: up an account you're opening it up at Treasury Direct 356 00:21:00,710 --> 00:21:04,449 Suze: dot gov. Make sure that you have spelled it correctly 357 00:21:04,460 --> 00:21:07,899 Suze: and that it is the official website. Don't go to 358 00:21:07,900 --> 00:21:11,130 Suze: Treasury Direct dot com or whatever. You never know when 359 00:21:11,130 --> 00:21:12,770 Suze: there are scammers out there. 360 00:21:12,840 --> 00:21:15,290 Suze: But if Treasury Direct dot gov 361 00:21:15,540 --> 00:21:20,810 Suze: Is asking you or your wife for information, give it 362 00:21:20,810 --> 00:21:24,800 Suze: to them in terms of missing out. You didn't miss 363 00:21:24,800 --> 00:21:29,090 Suze: out on anything. She will simply open up the account 364 00:21:29,090 --> 00:21:33,860 Suze: when she can, she will get the 9.62% interest rate. 365 00:21:34,240 --> 00:21:38,660 Suze: And depending on what they change November 1st, too she 366 00:21:38,660 --> 00:21:41,520 Suze: may get more. She may get less. Who cares. But 367 00:21:41,520 --> 00:21:46,280 Suze: she's fine. It's not a big deal Tim number one. 368 00:21:46,290 --> 00:21:50,159 Suze: Number two, if you were to open up one in 369 00:21:50,160 --> 00:21:54,270 Suze: your account, you would have to open up a new account. 370 00:21:54,640 --> 00:21:55,770 Suze: You cannot 371 00:21:56,240 --> 00:22:01,040 Suze: and I repeat, you cannot add money to an account 372 00:22:01,040 --> 00:22:02,560 Suze: you already have. 373 00:22:03,340 --> 00:22:07,250 Suze: So when you purchase a Series I Bond and let's 374 00:22:07,250 --> 00:22:10,810 Suze: say you wanted to purchase one every month for $100. 375 00:22:10,810 --> 00:22:13,960 Suze: Let's just say that's true. Every month 376 00:22:14,440 --> 00:22:17,770 Suze: you have to purchase a new bond 377 00:22:18,340 --> 00:22:22,170 Suze: with a new serial number with a new maturity. You 378 00:22:22,170 --> 00:22:25,660 Suze: can't add to one that you already have. 379 00:22:26,340 --> 00:22:29,140 Suze: So you wouldn't have been able to do it anyway. 380 00:22:29,150 --> 00:22:29,669 Suze: All right, 381 00:22:30,140 --> 00:22:33,929 KT: next question is from Betty. Ready? This is going back 382 00:22:33,940 --> 00:22:34,550 KT: to 383 00:22:34,940 --> 00:22:39,480 KT: a previous one about the ownership ready Suze? When investing 384 00:22:39,480 --> 00:22:43,500 KT: in I Bonds. You spoke of three different options. I 385 00:22:43,500 --> 00:22:49,359 KT: have questions about the consequences of death of owner, Soul, 386 00:22:49,940 --> 00:22:57,169 KT: Primary. The secondary has control anytime. Beneficiary has the control 387 00:22:57,180 --> 00:23:01,180 KT: only upon death. So I don't understand really how you're 388 00:23:01,180 --> 00:23:02,280 KT: going to answer. Take a look at. 389 00:23:02,280 --> 00:23:06,950 Suze: So, I in essence, KT did answer that question, but again, 390 00:23:07,140 --> 00:23:10,950 Suze: the only downside honest to God of Series I Bonds 391 00:23:11,140 --> 00:23:16,060 Suze: is that you cannot make a trust. The beneficiary. 392 00:23:16,940 --> 00:23:20,480 Suze: So therefore if you are a sole owner and you 393 00:23:20,480 --> 00:23:25,250 Suze: do not name a beneficiary or a secondary owner you die. 394 00:23:25,260 --> 00:23:30,040 Suze: It goes into your estate and your will will govern 395 00:23:30,040 --> 00:23:31,670 Suze: who gets that money. 396 00:23:32,040 --> 00:23:34,740 Suze: But it will have to go through probate. In most 397 00:23:34,740 --> 00:23:35,460 Suze: cases 398 00:23:35,940 --> 00:23:41,550 Suze: a primary owner that has a secondary has control, 399 00:23:42,140 --> 00:23:46,460 Suze: meaning that if you die, they can take it over 400 00:23:46,470 --> 00:23:51,030 Suze: as their own. They cannot sell or do anything with 401 00:23:51,030 --> 00:23:55,980 Suze: it while you are still alive. However you die, they 402 00:23:55,980 --> 00:23:58,680 Suze: get to take it over as their own or they 403 00:23:58,680 --> 00:24:01,670 Suze: can take out the money if they want as well. 404 00:24:02,440 --> 00:24:08,649 Suze: A beneficiary has absolutely no control whatsoever. You die, they 405 00:24:08,660 --> 00:24:13,920 Suze: automatically get the money. However, it does not go through probate. 406 00:24:13,950 --> 00:24:18,090 Suze: The secondary does not go through probate. If you open 407 00:24:18,090 --> 00:24:19,960 Suze: this up as a trust 408 00:24:21,170 --> 00:24:22,960 Suze: again, your trust 409 00:24:23,940 --> 00:24:27,640 Suze: already says where it's to go. So if you die 410 00:24:27,650 --> 00:24:32,060 Suze: owning it in trust it avoids probate. There you go. 411 00:24:33,140 --> 00:24:34,609 KT: All right, Next question 412 00:24:35,580 --> 00:24:36,600 Suze: what was that little look for 413 00:24:36,600 --> 00:24:39,320 KT: was like, whoa, Oh, too much information. 414 00:24:39,330 --> 00:24:43,940 Suze: Yeah, here's the problem. Everybody with KT... KT likes my 415 00:24:43,940 --> 00:24:45,550 Suze: answers to be short. 416 00:24:45,560 --> 00:24:48,560 KT: No, just 1 1 piece of information. 417 00:24:48,940 --> 00:24:52,250 KT: There's many times that Suze gives an answer that has 418 00:24:52,250 --> 00:24:56,170 KT: options or a variety of choice was 419 00:24:56,170 --> 00:24:57,800 Suze: her question to me. I know, 420 00:24:57,800 --> 00:25:00,750 KT: but I think it's still confusing when we give too 421 00:25:00,750 --> 00:25:02,990 KT: many choices and no, we're not 422 00:25:02,990 --> 00:25:04,850 Suze: giving too many choices 423 00:25:04,850 --> 00:25:06,460 KT: what you can do. 424 00:25:06,900 --> 00:25:07,460 KT: People 425 00:25:07,460 --> 00:25:10,100 Suze: eneed to know the difference. This is why we're doing 426 00:25:10,109 --> 00:25:12,280 Suze: a podcast on Series I Bonds 427 00:25:12,470 --> 00:25:15,120 KT: We better do a couple of these. Here's the next question. This 428 00:25:15,119 --> 00:25:19,810 KT: is from David. Suze. Now ready for this one. Suze. 429 00:25:19,820 --> 00:25:23,730 KT: Now that it's May, when should I see the dividend 430 00:25:23,730 --> 00:25:27,200 KT: for my Series I Bond that I bought last month. 431 00:25:27,210 --> 00:25:29,359 KT: I'm going to answer that, David. 432 00:25:29,440 --> 00:25:30,960 KT: It doesn't work that way. 433 00:25:31,140 --> 00:25:35,520 KT: It's not like interest bearing, checking accounts or saving. It's 434 00:25:35,520 --> 00:25:36,629 KT: an I Bond, 435 00:25:37,040 --> 00:25:39,580 KT: you get the dividend annually, 436 00:25:39,640 --> 00:25:41,160 Suze: you never get the dividend, 437 00:25:41,160 --> 00:25:42,369 KT: you don't get a dividend. 438 00:25:43,640 --> 00:25:48,880 Suze: So glad KT answered that for you, David. David, Listen 439 00:25:48,920 --> 00:25:52,699 Suze: an I Bond is not like another kind of a 440 00:25:52,700 --> 00:25:57,340 Suze: bond where every six months you get your interest, I 441 00:25:57,340 --> 00:26:03,460 Suze: Bonds pay interest. They do not pay dividends, they pay interest. 442 00:26:03,460 --> 00:26:04,850 Suze: So that's the first thing. 443 00:26:05,440 --> 00:26:08,169 Suze: When you buy an I Bond, 444 00:26:08,540 --> 00:26:11,790 Suze: your interest is not going to show up in your 445 00:26:11,790 --> 00:26:16,760 Suze: account for the first four months at least. And the 446 00:26:16,760 --> 00:26:22,280 Suze: reason that is, is that they automatically, when they post interest, 447 00:26:22,460 --> 00:26:26,330 Suze: they assume that you want to know how much money 448 00:26:26,330 --> 00:26:29,960 Suze: you are going to get. If you redeem this bond 449 00:26:30,340 --> 00:26:34,580 Suze: remember in the very first year you can't redeem it anyway. 450 00:26:34,590 --> 00:26:37,330 Suze: And in years two through five, there's a three month 451 00:26:37,340 --> 00:26:43,080 Suze: interest penalty. So they will always assume the interest penalty 452 00:26:43,090 --> 00:26:47,320 Suze: has been applied. So you're not gonna see any interest 453 00:26:47,330 --> 00:26:49,560 Suze: accruing in your account 454 00:26:49,640 --> 00:26:50,659 Suze: for at least 455 00:26:50,740 --> 00:26:52,270 Suze: four months. 456 00:26:52,640 --> 00:26:57,070 Suze: So don't freak out. it's just how they do it. 457 00:26:57,109 --> 00:26:59,610 Suze: So you're not going to see anything for four months 458 00:26:59,619 --> 00:27:01,590 Suze: in this account of years. Alright. 459 00:27:01,600 --> 00:27:05,430 KT: Alright. Next is from Cathy. I see the C.P.I. rates 460 00:27:05,430 --> 00:27:06,920 KT: for I Bonds went up 461 00:27:06,930 --> 00:27:08,810 Suze: C. P. I. Stands for what KT? 462 00:27:08,810 --> 00:27:10,060 KT: consumer, 463 00:27:11,040 --> 00:27:12,590 KT: consumer 464 00:27:14,840 --> 00:27:15,929 Suze: consumer 465 00:27:15,930 --> 00:27:16,350 KT: something 466 00:27:16,350 --> 00:27:17,169 Suze: price, 467 00:27:17,640 --> 00:27:20,060 KT: interest index index. 468 00:27:20,070 --> 00:27:21,540 Suze: Oh God 469 00:27:21,550 --> 00:27:23,550 KT: I got the C. Word right, 470 00:27:24,140 --> 00:27:28,770 KT: Alright I see these are 30-year bonds. I'm 55, I 471 00:27:28,770 --> 00:27:31,270 KT: don't think I want to wait 30 years to cash 472 00:27:31,270 --> 00:27:34,869 KT: it in. What would you think is the sensible length 473 00:27:34,869 --> 00:27:38,730 KT: of time to hold on to this before cashing in 474 00:27:38,740 --> 00:27:41,359 KT: if you're not desperate for the money? 475 00:27:41,640 --> 00:27:45,790 Suze: That my dear will depend on what interest rates are doing. 476 00:27:45,940 --> 00:27:50,669 Suze: I have I Bonds that go all the way back 477 00:27:50,680 --> 00:27:54,330 Suze: and I'm so thrilled that I kept them because over 478 00:27:54,330 --> 00:27:57,119 Suze: the long run I've really averaged even though some of 479 00:27:57,119 --> 00:28:00,750 Suze: the years I made 0% believe it or not, I've 480 00:28:00,750 --> 00:28:04,330 Suze: made a lot of money on these bonds and I'm 481 00:28:04,330 --> 00:28:05,950 Suze: keeping the money in there 482 00:28:06,440 --> 00:28:10,830 Suze: So you don't have to keep them for 30 years, 483 00:28:10,840 --> 00:28:14,129 Suze: you can take any money out you want or redeem 484 00:28:14,130 --> 00:28:16,570 Suze: them after five years. 485 00:28:16,570 --> 00:28:18,070 KT: Any amount of money, 486 00:28:18,070 --> 00:28:21,660 Suze: any amount of money you want after five years without 487 00:28:21,660 --> 00:28:24,460 Suze: any interest penalty whatsoever. 488 00:28:25,040 --> 00:28:28,180 Suze: So we just have to see how long inflation stays 489 00:28:28,190 --> 00:28:32,100 Suze: up there. You just have to look at what you 490 00:28:32,100 --> 00:28:35,250 Suze: need from your money. Do you like the interest rate 491 00:28:35,250 --> 00:28:39,230 Suze: that these bonds are giving you? Especially because they're tax deferred. 492 00:28:39,240 --> 00:28:43,630 Suze: So your interest is also compounding and make a decision 493 00:28:43,630 --> 00:28:44,770 Suze: at that time. 494 00:28:45,040 --> 00:28:48,100 Suze: And remember after the first year, if you want to 495 00:28:48,100 --> 00:28:53,110 Suze: take money out again anytime between year two and five, 496 00:28:53,120 --> 00:28:54,550 Suze: there's what KT? 497 00:28:55,340 --> 00:28:56,560 KT: a three year 498 00:28:56,940 --> 00:28:58,450 KT: A three, right? 499 00:28:58,460 --> 00:29:03,210 Suze: It's a three month interest penalty. What is wrong to you? 500 00:29:03,220 --> 00:29:04,170 Suze: Is 501 00:29:04,540 --> 00:29:07,860 Suze: has this become your new block versus ROTH? 502 00:29:08,440 --> 00:29:11,820 Suze: Is this like has this replaced ROTH It's close, 503 00:29:11,850 --> 00:29:12,930 KT: It's close. 504 00:29:13,090 --> 00:29:14,100 Suze: Is wrong with you 505 00:29:14,100 --> 00:29:17,970 KT: already? It's close. Next question. No, wait. All right. Answer that. 506 00:29:17,980 --> 00:29:21,160 KT: I just did. That's the answer. Suze. Three months. 507 00:29:23,640 --> 00:29:24,440 Suze: Go on 508 00:29:24,610 --> 00:29:26,320 KT: the penalty. Right. 509 00:29:26,330 --> 00:29:28,880 Suze: If I ask her that again in an hour, let's 510 00:29:28,880 --> 00:29:30,090 Suze: see if she gets it. 511 00:29:30,100 --> 00:29:33,240 KT: All right. This next question is from Shannon and after 512 00:29:33,250 --> 00:29:39,070 KT: this entire Ask Suze about I Bonds seminar. I can 513 00:29:39,070 --> 00:29:40,170 KT: answer this one. 514 00:29:40,960 --> 00:29:41,110 KT: Wait, 515 00:29:41,110 --> 00:29:43,820 Suze: wait, let's take bets. Let's take bets. 50 bucks. 50 bucks. 516 00:29:43,820 --> 00:29:46,870 Suze: Who wants to put 50 bucks on 100? All right, 517 00:29:46,870 --> 00:29:47,340 Suze: 200 518 00:29:48,650 --> 00:29:52,050 KT: Shannon is really, really excited. She said I bought my 519 00:29:52,050 --> 00:29:56,770 KT: first series. I bonds. My question is if I purchase 520 00:29:56,780 --> 00:30:00,480 KT: another bond, does this get added to the current one 521 00:30:00,480 --> 00:30:04,680 KT: I purchased or is this considered a separate I bond 522 00:30:04,690 --> 00:30:09,180 KT: answer from KT. It's got to be a separate. I bond. 523 00:30:09,220 --> 00:30:13,710 KT: You cannot add it to the first one. Second question. 524 00:30:13,720 --> 00:30:18,710 KT: When purchasing another I Bond does the holding period start 525 00:30:18,710 --> 00:30:21,070 KT: new again for the new bond purchased? 526 00:30:21,340 --> 00:30:23,260 KT: Absolutely, yes. 527 00:30:23,640 --> 00:30:26,060 KT: There you go. Suze. Give me some Ding Ding ding 528 00:30:26,070 --> 00:30:26,910 KT: ding ding ding 529 00:30:26,920 --> 00:30:28,680 Suze: ding! 530 00:30:28,690 --> 00:30:32,580 KT: I got it right. I know. After this lesson, I 531 00:30:32,580 --> 00:30:33,600 KT: knew the answer. 532 00:30:33,610 --> 00:30:36,020 Suze: And now you tell me, KT, how long does she 533 00:30:36,020 --> 00:30:36,860 Suze: have to hold it? 534 00:30:37,640 --> 00:30:39,260 Suze: Three? 535 00:30:39,620 --> 00:30:43,270 KT: That's not fair. We just laughed about this. three months. 536 00:30:45,740 --> 00:30:47,230 Suze: And what about the first, 537 00:30:47,240 --> 00:30:48,709 KT: you know, the first year. You have to hold it. 538 00:30:48,710 --> 00:30:51,030 KT: You can't touch it for a year and then touch 539 00:30:51,030 --> 00:30:51,130 KT: the 540 00:30:51,130 --> 00:30:51,560 Suze: money. 541 00:30:53,840 --> 00:30:58,050 Suze: Come on, KT, please, please don't do this to me, 542 00:30:58,060 --> 00:31:01,220 KT: please. You can't touch it for a year. 543 00:31:01,230 --> 00:31:01,960 Suze: And then what? 544 00:31:02,540 --> 00:31:02,920 KT: And then 545 00:31:02,920 --> 00:31:06,860 Suze: what? Please. Everybody this can't be 546 00:31:07,040 --> 00:31:07,810 KT: happening 547 00:31:07,820 --> 00:31:10,160 Suze: years. What through what? 548 00:31:11,140 --> 00:31:13,290 Suze: Here's two through 5. What 549 00:31:13,300 --> 00:31:16,560 KT: if you take any money out? There's a, 550 00:31:16,940 --> 00:31:20,270 KT: A three Month penalty interest 551 00:31:20,640 --> 00:31:22,050 KT: penalty rate. 552 00:31:22,940 --> 00:31:25,080 KT: There's a three month interest. 553 00:31:26,260 --> 00:31:27,040 Suze: what is wrong ith you? And 554 00:31:27,040 --> 00:31:28,190 KT: what is it? You're too 555 00:31:28,190 --> 00:31:31,330 Suze: that's it. But why is that so difficult? It 556 00:31:31,330 --> 00:31:33,580 KT: isn't. But you're looking at me with this look like 557 00:31:33,580 --> 00:31:35,940 KT: I really should just, it should just roll off my tounge 558 00:31:36,380 --> 00:31:38,020 Suze: Guess what it should 559 00:31:38,030 --> 00:31:42,400 KT: know. And sorry, this is really confusing this I Bond business. 560 00:31:42,410 --> 00:31:45,380 KT: Here's the thing. Everybody just buy them because you're going 561 00:31:45,380 --> 00:31:47,060 KT: to get a really good return 562 00:31:47,640 --> 00:31:49,210 KT: and just hold on to it. But 563 00:31:49,210 --> 00:31:53,930 Suze: this is a very interesting phenomenon. Really? Everybody, which is 564 00:31:53,940 --> 00:31:59,300 Suze: KT is brilliant. No, I'm not kidding. KT is the 565 00:31:59,300 --> 00:32:03,980 Suze: one who negotiates every one of our contracts for us. 566 00:32:04,170 --> 00:32:08,400 Suze: These long legal contracts with this and that and that 567 00:32:08,400 --> 00:32:10,459 Suze: and this that bore me to death. 568 00:32:10,740 --> 00:32:13,170 Suze: And I of course would just give it to the lawyer. 569 00:32:13,180 --> 00:32:17,770 Suze: But we have learned that sometimes KT is actually better 570 00:32:17,770 --> 00:32:19,830 Suze: than the lawyer believe it or not because 571 00:32:19,830 --> 00:32:21,840 KT: I don't understand anything. 572 00:32:21,850 --> 00:32:27,160 Suze: But but when it comes to certain topics, it's like 573 00:32:27,170 --> 00:32:31,770 Suze: her brain just disconnects. And I don't understand why however 574 00:32:32,340 --> 00:32:36,030 Suze: it does. But it's not a comment on really whether 575 00:32:36,030 --> 00:32:37,850 Suze: KT is intelligent or not, 576 00:32:37,850 --> 00:32:39,980 KT: test me in a week and I'll know the answer 577 00:32:39,980 --> 00:32:42,780 KT: because you have to let these things sink in. Suze. 578 00:32:42,780 --> 00:32:43,640 KT: That's all. 579 00:32:44,500 --> 00:32:47,040 Suze: I've been talking about this now for over a year. 580 00:32:47,050 --> 00:32:50,450 KT: Well, I'm saying it takes a little more than that. 581 00:32:50,460 --> 00:32:52,930 KT: It takes a little time to forget it. We're 582 00:32:52,930 --> 00:32:56,550 Suze: going on. But for those of you who keep writing 583 00:32:56,550 --> 00:32:59,190 Suze: and saying, I know I should get this. I don't 584 00:32:59,190 --> 00:32:59,850 Suze: get why I 585 00:32:59,850 --> 00:33:01,640 KT: don't feel bad. Don't feel 586 00:33:01,640 --> 00:33:04,660 Suze: bad. I live with it. Okay. No, no, 587 00:33:04,660 --> 00:33:09,200 KT: no, it's not you. It's Treasury Direct dot Gov has 588 00:33:09,200 --> 00:33:11,850 KT: got to make the language easier. 589 00:33:11,940 --> 00:33:12,400 KT: But 590 00:33:12,400 --> 00:33:14,140 Suze: they've been learning from me. 591 00:33:14,940 --> 00:33:17,820 KT: They're all learning from the Treasury Direct dot Gov And 592 00:33:17,820 --> 00:33:20,320 KT: then they're asking you Suze, what does that mean? 593 00:33:20,330 --> 00:33:24,020 Suze: No, they're listening to my podcast and they don't understand it. 594 00:33:24,030 --> 00:33:25,290 KT: Suze. Where's my quizzie? 595 00:33:25,590 --> 00:33:28,850 Suze: KT. This whole podcast has been your quizzie. 596 00:33:31,640 --> 00:33:33,740 KT: that's not nice, Suze. 597 00:33:33,750 --> 00:33:35,050 Suze: But it's true. 598 00:33:35,060 --> 00:33:35,960 KT: I'll get it. 599 00:33:37,780 --> 00:33:37,960 Suze: You promise me? 600 00:33:37,960 --> 00:33:40,959 KT: I have lots of I bonds so I'm getting something right. 601 00:33:43,890 --> 00:33:49,380 Suze: You should see her face everybody. All right, do not forget Sunday Suze School. And by 602 00:33:49,380 --> 00:33:51,830 Suze: the way, for those of you who wrote in Suze 603 00:33:51,830 --> 00:33:55,560 Suze: School will continue. They were afraid KT. Because I said 604 00:33:55,560 --> 00:33:57,950 Suze: they love you so much more. Maybe we should just 605 00:33:57,950 --> 00:33:59,850 Suze: do ask Suze 606 00:34:00,040 --> 00:34:02,860 Suze: and they said, please don't discontinue Suze school. Oh, I 607 00:34:02,860 --> 00:34:04,330 Suze: won't don't worry. 608 00:34:04,370 --> 00:34:05,000 KT: I 609 00:34:05,000 --> 00:34:10,390 Suze: won't write. But this Sunday's Suze School is all about 610 00:34:10,390 --> 00:34:14,710 Suze: my forecast for the next six months or so about. 611 00:34:14,719 --> 00:34:18,360 Suze: Should you buy gold? What's going to happen with interest rates? 612 00:34:18,370 --> 00:34:21,959 Suze: When will they peak? What's happening in the stock market? 613 00:34:21,969 --> 00:34:27,760 Suze: What's happening with mortgage rates? What's happening with? Is she laughing? 614 00:34:29,739 --> 00:34:32,860 Suze: Why are you laughing? 615 00:34:34,940 --> 00:34:37,410 Suze: (KT and Suze have a laughing fit) 616 00:34:37,420 --> 00:34:38,130 KT: because 617 00:34:38,130 --> 00:34:38,960 Suze: why? 618 00:34:39,540 --> 00:34:44,090 KT: Because if you listen to that and you want to know, 619 00:34:44,100 --> 00:34:49,540 KT: I'll give you my fishing forecast for the summer. Alright, 620 00:34:49,550 --> 00:34:54,700 Suze: alright. Forget it. Everybody. Just tune in Sunday. This podcast 621 00:34:54,700 --> 00:34:56,080 Suze: is out of control. 622 00:34:56,090 --> 00:34:57,130 KT: Just tune in 623 00:34:57,130 --> 00:34:58,880 Suze: Sunday. 624 00:34:58,890 --> 00:35:01,080 KT: See you later gator. 625 00:35:01,090 --> 00:35:02,650 Suze: What do you want to tell everybody 626 00:35:02,660 --> 00:35:04,540 KT: be safe Strong and 627 00:35:04,540 --> 00:35:12,060 Suze: secure and know about I Bonds. Please help me. Bye. Bye.