1 00:00:45,909 --> 00:00:51,830 Suze: February 15th, 2024. Welcome everybody to the Women and Money podcast. 2 00:00:51,840 --> 00:00:55,639 Suze: As well as everybody smart enough to listen. This is 3 00:00:55,650 --> 00:00:59,740 Suze: the Ask KT and Suze Anything podcast. 4 00:01:00,000 --> 00:01:02,419 KT: Suze, how are you doing? Are you ok? 5 00:01:03,000 --> 00:01:04,129 Suze: What do you mean KT? 6 00:01:04,750 --> 00:01:06,620 Suze: Oh, yeah, I'm actually not 7 00:01:07,080 --> 00:01:12,220 KT: She's sad. We're all sad, everybody. America's sad again. 8 00:01:12,589 --> 00:01:16,220 Suze: It's so, so she's asking that because... 9 00:01:16,680 --> 00:01:20,819 KT: We had a whole, we were so excited for today's podcast 10 00:01:21,330 --> 00:01:26,470 KT: and sadly, what happened yesterday on Valentine's Day while we're 11 00:01:26,480 --> 00:01:31,860 KT: celebrating madly in love. So excited from Sunday's Super Bowl 12 00:01:31,870 --> 00:01:35,620 KT: to Valentine's Day to talking to all of you this morning. 13 00:01:35,629 --> 00:01:37,208 KT: And it's like, what? Again? 14 00:01:37,559 --> 00:01:42,230 Suze: So what, what KT is talking about is that obviously, 15 00:01:42,239 --> 00:01:45,610 Suze: you know, by now there was a mass shooting at 16 00:01:45,620 --> 00:01:49,430 Suze: the Kansas City Chiefs Super Bowl celebration. 17 00:01:49,819 --> 00:01:53,879 Suze: And for me, I was actually watching it on my 18 00:01:53,889 --> 00:01:55,319 Suze: little iPhone 19 00:01:55,790 --> 00:01:58,730 Suze: because there weren't any major channels on TV that were 20 00:01:58,739 --> 00:02:02,349 Suze: covering the parade and everything. So I went, I know 21 00:02:02,449 --> 00:02:07,250 Suze: I'm gonna watch it on a Kansas City channel, right? 22 00:02:07,260 --> 00:02:09,570 Suze: And so I did and I was watching it and 23 00:02:09,580 --> 00:02:12,729 Suze: I was watching Mahomes walk down and say hi to 24 00:02:12,740 --> 00:02:15,619 Suze: everybody got off the bus and everybody was so happy 25 00:02:15,740 --> 00:02:17,970 Suze: to see him and he went from one side to 26 00:02:17,979 --> 00:02:21,210 Suze: the other. And then you saw Chris Jones talking to 27 00:02:21,220 --> 00:02:24,529 Suze: people and there were all these reporters 28 00:02:24,880 --> 00:02:27,839 Suze: that were talking to all the players that were walking 29 00:02:27,850 --> 00:02:30,770 Suze: down the street, then they all took their position on 30 00:02:30,779 --> 00:02:35,729 Suze: the platform and it was so great, so great, so joyous. 31 00:02:35,740 --> 00:02:39,580 Suze: They were so happy, so happy 32 00:02:39,889 --> 00:02:42,978 Suze: and then you could sense something had happened. You didn't 33 00:02:42,990 --> 00:02:46,029 Suze: know what it was. All the reporters that had been 34 00:02:46,038 --> 00:02:48,910 Suze: interviewing the players as they were walking down the streets 35 00:02:49,199 --> 00:02:52,479 Suze: were saying, wait, something has happened. We don't know what's happened. 36 00:02:52,490 --> 00:02:55,709 Suze: All the police are running somewhere because you couldn't really 37 00:02:55,720 --> 00:02:59,429 Suze: hear the gunshots. They kind of, they kind of sounded 38 00:02:59,440 --> 00:03:01,820 Suze: like firecrackers. It was way in, it was in the 39 00:03:01,830 --> 00:03:05,470 Suze: distance and then all of a sudden you knew something 40 00:03:05,479 --> 00:03:07,820 Suze: had happened and it was at the very end of 41 00:03:07,830 --> 00:03:08,070 Suze: it 42 00:03:08,399 --> 00:03:12,990 Suze: and everybody leaves and everything and then the announcement comes 43 00:03:13,000 --> 00:03:15,740 Suze: out that there was a mass shooting 44 00:03:17,419 --> 00:03:21,160 Suze: And what it reminds me of KT which is also 45 00:03:21,169 --> 00:03:26,279 Suze: why I'm sad is it isn't just that that happened. 46 00:03:27,119 --> 00:03:32,070 Suze: It's that a few minutes before that happened, you had 47 00:03:32,080 --> 00:03:35,960 Suze: maybe up to a million people that were celebrating that 48 00:03:35,970 --> 00:03:39,199 Suze: were so happy that they were there with their young kids. 49 00:03:39,210 --> 00:03:41,940 Suze: They had the day off of school. Everything was as 50 00:03:41,949 --> 00:03:44,020 Suze: perfect it could possibly be. 51 00:03:44,779 --> 00:03:47,279 Suze: And then many, many people now 52 00:03:48,199 --> 00:03:49,419 Suze: are injured 53 00:03:50,110 --> 00:03:53,990 Suze: and you know, whatever it may end up being. And 54 00:03:54,000 --> 00:03:56,210 Suze: so that makes me think about life 55 00:03:57,009 --> 00:04:04,470 Suze: and how instantaneously life can change in a second because 56 00:04:04,479 --> 00:04:10,300 Suze: of somebody else's actions. And then that brings me back to, 57 00:04:10,899 --> 00:04:13,419 Suze: do you all have a will? Do you have a trust? 58 00:04:13,429 --> 00:04:17,459 Suze: Have you taken all of that really seriously? 59 00:04:17,940 --> 00:04:21,160 Suze: And I don't know really what it would take to 60 00:04:21,170 --> 00:04:24,640 Suze: get you all to take it seriously when you see 61 00:04:24,649 --> 00:04:28,380 Suze: the things that happened that day and that day wasn't 62 00:04:28,390 --> 00:04:33,089 Suze: just the shooting. KT was it at, at Kansas City? 63 00:04:33,744 --> 00:04:35,095 Suze: It was also also... 64 00:04:35,105 --> 00:04:38,954 KT: February 14th Valentine's Day. It's the anniversary of the Marjorie 65 00:04:38,964 --> 00:04:42,174 KT: Stoneman Douglas High school here in Florida where... 66 00:04:42,184 --> 00:04:48,203 Suze: 17 kids were killed six years ago, a few days ago. 67 00:04:48,654 --> 00:04:51,255 Suze: You know, there was, there was a shooting at Joel 68 00:04:51,674 --> 00:04:56,184 Suze: Olsteen's church and, and we can go on and on 69 00:04:56,195 --> 00:04:56,643 Suze: and on. 70 00:04:57,184 --> 00:04:58,744 KT: We need to just get rid of the guns. 71 00:04:59,204 --> 00:05:00,894 Suze: So the real question is, 72 00:05:02,299 --> 00:05:07,078 Suze: isn't it time everybody, isn't it really time 73 00:05:07,769 --> 00:05:10,428 Suze: that the gun laws have changed? 74 00:05:11,220 --> 00:05:15,309 Suze: And it's really important that every single one of us, 75 00:05:16,029 --> 00:05:23,399 Suze: whether you're listening to this now, whether it's me, KT Mahomes, Kelsey, 76 00:05:23,410 --> 00:05:27,649 Suze: every single one of us needs to start to get 77 00:05:27,660 --> 00:05:28,609 Suze: behind 78 00:05:29,290 --> 00:05:35,109 Suze: the laws that change gun laws forever so that these 79 00:05:35,119 --> 00:05:41,869 Suze: mass shootings stop and it's just that simple. So, I 80 00:05:41,880 --> 00:05:45,709 Suze: am sad and the truth is all of us should 81 00:05:45,720 --> 00:05:52,190 Suze: be sad, but from sadness, hopefully change, true change 82 00:05:52,529 --> 00:05:56,070 Suze: will happen not only with the gun laws but in 83 00:05:56,079 --> 00:05:58,709 Suze: your own lives to make sure that you have the 84 00:05:58,720 --> 00:06:04,109 Suze: paperwork in place today to protect your tomorrow's. KT, are you ready? 85 00:06:05,079 --> 00:06:06,399 KT: I'm ready, Suze. 86 00:06:06,440 --> 00:06:08,910 Suze: Let's get on with it. Ask me 87 00:06:09,015 --> 00:06:11,274 Suze: your first question, girlfriend. 88 00:06:11,484 --> 00:06:14,505 KT: So, Suz e, I picked this one from Joseph to start 89 00:06:14,515 --> 00:06:18,075 KT: with because he needs a little TLC in, in my opinion. 90 00:06:18,184 --> 00:06:18,815 Suze: Why did I give him a 91 00:06:18,825 --> 00:06:22,534 KT: slap down? No, but listen to this, it's really short 92 00:06:22,545 --> 00:06:25,475 KT: everybody but I, I just felt like he needs a hug. 93 00:06:25,738 --> 00:06:29,820 KT: Hi, Suze. Why do I not feel empowered with my money? 94 00:06:29,829 --> 00:06:37,429 KT: I'm 39 years old. I have $122,000 in assets including 95 00:06:37,440 --> 00:06:41,940 KT: a nine month emergency fund. I have no credit card debt. 96 00:06:42,100 --> 00:06:46,250 KT: I own my car outright. I own a condo and 97 00:06:46,260 --> 00:06:51,760 KT: I put a down payment on it of $40,000 in 2021. 98 00:06:52,279 --> 00:06:55,470 KT: But my issue is I'm scared of taking risks. 99 00:06:55,850 --> 00:06:58,670 KT: So, do you have any tips? He's asking if you 100 00:06:58,678 --> 00:07:02,149 KT: have tips? Why do you think he's so, you know, 101 00:07:02,160 --> 00:07:04,209 KT: down and out about his money? 102 00:07:04,570 --> 00:07:09,630 Suze: We usually are afraid to take risks with our money 103 00:07:10,480 --> 00:07:15,709 Suze: because we know how much money means to us, we've 104 00:07:15,720 --> 00:07:19,899 Suze: worked hard for it. We're willing to invest it. We're 105 00:07:19,910 --> 00:07:23,239 Suze: willing to buy a home. We're willing to do that, 106 00:07:23,250 --> 00:07:27,049 Suze: which we know about when it comes to money. When 107 00:07:27,059 --> 00:07:29,109 Suze: it's simple, we know to save it, we know to 108 00:07:29,119 --> 00:07:32,640 Suze: do those things and we don't get afraid to do 109 00:07:32,649 --> 00:07:33,859 Suze: those things. Even 110 00:07:34,170 --> 00:07:37,410 Suze: like in our 401k plan, we're saving it, but we 111 00:07:37,420 --> 00:07:40,390 Suze: are investing it in mutual funds and that's what everybody 112 00:07:40,399 --> 00:07:43,709 Suze: else does. So there's not a lot of fear in that. 113 00:07:44,390 --> 00:07:48,619 Suze: But when we come out of that wheelhouse, the wheelhouse 114 00:07:48,630 --> 00:07:52,109 Suze: of buying a home, the wheelhouse of investing in a 115 00:07:52,119 --> 00:07:56,040 Suze: retirement account at work and we have to invest our 116 00:07:56,049 --> 00:07:57,489 Suze: money on our own. 117 00:07:58,720 --> 00:08:00,769 Suze: We feel like that's too risky. 118 00:08:01,420 --> 00:08:04,309 Suze: Like we're not part of a big group. We're just 119 00:08:04,320 --> 00:08:06,950 Suze: doing it all on our own and what type of 120 00:08:06,959 --> 00:08:10,089 Suze: an account should we have? And if we do open 121 00:08:10,100 --> 00:08:12,929 Suze: a Roth IRA, what should we invest it in? And 122 00:08:12,940 --> 00:08:15,079 Suze: there's just so many things 123 00:08:15,799 --> 00:08:18,820 Suze: and really the truth about it, everybody is that when 124 00:08:18,829 --> 00:08:23,559 Suze: you don't know what to do, you get afraid and 125 00:08:23,570 --> 00:08:27,299 Suze: when you get afraid you just don't do it. 126 00:08:28,540 --> 00:08:31,779 Suze: And so if you like to save, if you like 127 00:08:31,790 --> 00:08:35,919 Suze: to play it safe, I totally get Joseph, why you 128 00:08:35,929 --> 00:08:40,099 Suze: would be afraid to take a risk because everything else 129 00:08:40,109 --> 00:08:44,500 Suze: financially has worked so well for you. You see it growing, 130 00:08:44,679 --> 00:08:48,679 Suze: but yet you just can't take that one last step 131 00:08:48,690 --> 00:08:52,799 Suze: of just going for it because you're afraid you may lose. 132 00:08:53,390 --> 00:08:57,409 Suze: So, here's what I suggest to everybody that feels like that. 133 00:08:57,419 --> 00:08:59,869 Suze: And Joseph, you are not alone here. 134 00:09:00,650 --> 00:09:04,689 Suze: It's the same way when I was younger and I 135 00:09:04,700 --> 00:09:07,608 Suze: would go to the beach in Chicago and go into 136 00:09:07,619 --> 00:09:11,150 Suze: Lake Michigan, which was always freezing. You first go up 137 00:09:11,159 --> 00:09:13,109 Suze: to your ankles and then you go up to your 138 00:09:13,119 --> 00:09:15,780 Suze: knees and then you go to your thighs and before 139 00:09:15,789 --> 00:09:18,390 Suze: you know what you're in and you're used to it. 140 00:09:19,080 --> 00:09:23,869 Suze: The same is true with investing when you're not exactly 141 00:09:23,880 --> 00:09:25,939 Suze: sure what to invest in. 142 00:09:27,309 --> 00:09:30,960 Suze: Let's say you have $10,000 to invest, you don't have 143 00:09:30,969 --> 00:09:35,929 Suze: to invest all 10,000 at once. Pick an amount of money, 144 00:09:36,609 --> 00:09:42,020 Suze: whether it's $1000 100 dollars, $50 it doesn't matter anymore. 145 00:09:42,059 --> 00:09:46,030 Suze: Given the fact that you can now buy slices of 146 00:09:46,039 --> 00:09:49,890 Suze: stocks at discount brokerage firm. So if a stock is 147 00:09:49,919 --> 00:09:53,340 Suze: $1000 a share, you can buy $10 worth of it. 148 00:09:54,000 --> 00:09:59,819 Suze: So maybe pick five different stocks by $10 each in 149 00:09:59,830 --> 00:10:00,809 Suze: each one. 150 00:10:02,030 --> 00:10:06,010 Suze: And just see how that feels. See if it grows, 151 00:10:06,020 --> 00:10:08,280 Suze: see if it all of a sudden goes down, see 152 00:10:08,289 --> 00:10:11,380 Suze: how you feel. If it goes down and all of 153 00:10:11,390 --> 00:10:14,250 Suze: a sudden you'll find, oh, they're going up, 154 00:10:15,020 --> 00:10:18,169 Suze: I'm making good money. Oh, maybe I need to put 155 00:10:18,179 --> 00:10:19,359 Suze: a little bit more in 156 00:10:20,059 --> 00:10:22,150 Suze: and then if they are good picks and everything it 157 00:10:22,159 --> 00:10:25,340 Suze: goes right. You'll get used to it. You'll get used 158 00:10:25,349 --> 00:10:28,429 Suze: to the ups and the downs. Just like what happened 159 00:10:28,440 --> 00:10:32,260 Suze: this week when the market went down on Tuesday. Then 160 00:10:32,270 --> 00:10:35,020 Suze: essentially it kind of came back on Wednesday. It didn't 161 00:10:35,030 --> 00:10:39,739 Suze: roar back, but it absolutely kind of came back. So 162 00:10:39,750 --> 00:10:42,319 Suze: that all of a sudden then you're like, oh, 163 00:10:42,950 --> 00:10:46,010 Suze: it goes down and then it comes up and you 164 00:10:46,020 --> 00:10:51,109 Suze: get used to the waves of the financial ocean and 165 00:10:51,119 --> 00:10:55,010 Suze: then you happen to feel comfortable in it, the more 166 00:10:55,020 --> 00:10:58,869 Suze: you learn about it, the more you listen to this podcast, 167 00:10:59,070 --> 00:11:02,969 Suze: the more that you watch shows like CNBC and you 168 00:11:02,979 --> 00:11:06,450 Suze: just get used to the verbiage and how it works. 169 00:11:07,109 --> 00:11:10,450 Suze: You're gonna find sooner than later. You're not gonna be 170 00:11:10,460 --> 00:11:16,530 Suze: afraid to take a risk. It's really just that simple. 171 00:11:16,929 --> 00:11:20,770 Suze: I just have to remind everybody again and again and again, 172 00:11:21,479 --> 00:11:24,789 Suze: I was still a waitress till the age of 30 173 00:11:24,880 --> 00:11:28,978 Suze: making $400 a month and look at me now, 174 00:11:30,080 --> 00:11:34,039 Suze: nobody taught me about money. You know, I didn't inherit money. 175 00:11:34,070 --> 00:11:37,020 Suze: Money wasn't supposed to be part of this equation. 176 00:11:37,679 --> 00:11:41,179 Suze: But I learned the language of wealth 177 00:11:42,090 --> 00:11:44,070 Suze: and the language of wealth 178 00:11:44,950 --> 00:11:49,090 Suze: is the language of you have what it takes to learn, 179 00:11:49,260 --> 00:11:51,510 Suze: you have, what it takes to own the power to 180 00:11:51,520 --> 00:11:56,260 Suze: control your destiny. You can learn everything that you need 181 00:11:56,270 --> 00:11:58,089 Suze: to know about 182 00:11:58,789 --> 00:12:00,409 Suze: investing your money, 183 00:12:01,409 --> 00:12:05,270 Suze: learning about the stock market, how it works, how you 184 00:12:05,280 --> 00:12:08,289 Suze: take the risk out of it by dollar cost, averaging, 185 00:12:08,830 --> 00:12:10,869 Suze: just learn the language of wealth 186 00:12:11,679 --> 00:12:16,619 Suze: and then you'll also learn the language of self. 187 00:12:16,750 --> 00:12:18,359 KT: Wow, Suze! 188 00:12:19,210 --> 00:12:20,319 Suze: Did I just impress you? 189 00:12:20,419 --> 00:12:23,950 KT: You did. That has got to go in my book of 190 00:12:23,960 --> 00:12:26,809 KT: Suzeisms because that was a great one. 191 00:12:26,830 --> 00:12:31,218 Suze: So that's a ding, ding, ding for me right KT. Next question. 192 00:12:31,590 --> 00:12:33,500 KT: So this next one is from Lynn. 193 00:12:33,780 --> 00:12:34,859 KT: And she said, dear... 194 00:12:34,869 --> 00:12:36,400 Suze: You picked it because that's your sister. 195 00:12:36,409 --> 00:12:40,700 KT: No, because of this, I picked it: Dear Wonderful KT 196 00:12:40,710 --> 00:12:45,200 KT: and Suze. I'm looking forward to another year of listening 197 00:12:45,210 --> 00:12:49,090 KT: to you two. I have recently updated my husband's and 198 00:12:49,099 --> 00:12:52,919 KT: my living revocable trust. Although I'm unsure of how to 199 00:12:52,929 --> 00:12:57,000 KT: proceeded about a house we just bought in October. 200 00:12:57,489 --> 00:13:00,929 KT: We have just started this 30 year mortgage and need 201 00:13:00,940 --> 00:13:04,849 KT: to ask, should this house be listed on the trust 202 00:13:04,989 --> 00:13:08,070 KT: now for my daughter who is only two years old 203 00:13:08,340 --> 00:13:12,869 KT: to eventually inherit be the beneficiary of or should this 204 00:13:12,880 --> 00:13:15,630 KT: house be paid off first then be 205 00:13:15,724 --> 00:13:19,465 KT: listed on the trust to the benefit of my daughter. 206 00:13:20,044 --> 00:13:22,603 KT: Two years old, Suze. Tell Lynn how to do it. 207 00:13:23,075 --> 00:13:25,275 Suze: Yeah, this two year old would be able to invest 208 00:13:25,284 --> 00:13:27,465 Suze: this money and know what to do with this house 209 00:13:27,474 --> 00:13:29,844 Suze: and be able to make decisions about it. Should she 210 00:13:29,854 --> 00:13:34,705 Suze: pay it off sooner than later? My dear Lynn, what 211 00:13:34,715 --> 00:13:37,534 Suze: you need to understand is one of the main reasons 212 00:13:37,544 --> 00:13:40,525 Suze: that you created a living, revocable trust 213 00:13:41,190 --> 00:13:44,380 Suze: is for the benefit of your daughter. If something happened 214 00:13:44,390 --> 00:13:50,320 Suze: to you and your husband, why? Because minors cannot inherit money. 215 00:13:50,900 --> 00:13:54,239 Suze: Think about it. You could leave your daughter all the 216 00:13:54,250 --> 00:13:55,849 Suze: money in the world, 217 00:13:56,679 --> 00:13:59,619 Suze: but she's two years old, she doesn't even know what 218 00:13:59,630 --> 00:14:02,299 Suze: to do with a pacifier unless you tell her what 219 00:14:02,309 --> 00:14:05,630 Suze: to do with it. So what really has to happen 220 00:14:05,640 --> 00:14:10,489 Suze: here is you do absolutely need to put this house 221 00:14:10,500 --> 00:14:15,539 Suze: in trust because you absolutely want to bypass probate. But 222 00:14:15,549 --> 00:14:19,219 Suze: you also need to obviously set up a guardian, 223 00:14:19,979 --> 00:14:23,369 Suze: a guardian for your daughter as to who's going to 224 00:14:23,380 --> 00:14:26,270 Suze: take care of her. If both you and your husband 225 00:14:26,280 --> 00:14:28,710 Suze: are killed, for instance, in a car crash. 226 00:14:29,359 --> 00:14:32,960 Suze: So you have to think like that, KT and I 227 00:14:32,969 --> 00:14:36,690 Suze: always think about all right, we're on an airplane, we 228 00:14:36,700 --> 00:14:39,739 Suze: both go down together. Who gets what? Who does, what, 229 00:14:39,750 --> 00:14:42,960 Suze: how does it work? You just have to think that way, 230 00:14:42,969 --> 00:14:47,539 Suze: especially if you have a minor child. So the first 231 00:14:47,549 --> 00:14:51,619 Suze: question is who is going to be the guardian? Because 232 00:14:51,630 --> 00:14:54,659 Suze: if you do not appoint a guardian and a guardian 233 00:14:54,669 --> 00:14:57,580 Suze: is actually appointed via your will, 234 00:14:58,330 --> 00:15:03,429 Suze: then probate court will absolutely appoint a guardian for you. 235 00:15:03,440 --> 00:15:06,909 Suze: It will be called probate guardianship. You don't want that, 236 00:15:06,919 --> 00:15:10,080 Suze: you want somebody who really cares about your daughter and 237 00:15:10,090 --> 00:15:14,710 Suze: takes care of her within the trust. It would probably 238 00:15:14,719 --> 00:15:16,330 Suze: be the same person 239 00:15:16,979 --> 00:15:21,929 Suze: as to who you want to be successor trustee, which 240 00:15:21,940 --> 00:15:26,719 Suze: means who succeeds you. If both you and your husband 241 00:15:26,729 --> 00:15:30,289 Suze: were to die and it's in there that you would 242 00:15:30,299 --> 00:15:34,799 Suze: actually leave directions as to how you want that money 243 00:15:34,809 --> 00:15:38,239 Suze: invested when the daughter is to get that money and 244 00:15:38,250 --> 00:15:42,500 Suze: all of those things. So, no, do not wait, do 245 00:15:42,510 --> 00:15:43,159 Suze: it now. 246 00:15:44,049 --> 00:15:46,239 KT: Good. Now, next question is from Erin 247 00:15:46,650 --> 00:15:50,799 KT: Taking your advice. I've been dollar cost averaging a monthly 248 00:15:50,809 --> 00:15:55,840 KT: amount into my 2023 Roth. I have cash available for 249 00:15:55,849 --> 00:16:01,059 KT: a full 2024 payment and I'm considering making a lump 250 00:16:01,070 --> 00:16:05,440 KT: sum payment into one of the magnificent seven stocks since 251 00:16:05,450 --> 00:16:06,869 KT: they've been doing so well. 252 00:16:07,280 --> 00:16:08,940 KT: Why do you go "Huh?" 253 00:16:08,960 --> 00:16:09,190 Suze: I'll you in a second. 254 00:16:10,429 --> 00:16:13,780 KT: I have a few of these seven tech stocks already 255 00:16:13,830 --> 00:16:16,820 KT: and I'm weighing in whether waiting to do a monthly 256 00:16:16,830 --> 00:16:21,320 KT: payment is better or to contribute the entire 8000 now 257 00:16:21,330 --> 00:16:25,030 KT: that they continue to climb. Suze, don't you want to 258 00:16:25,039 --> 00:16:28,909 KT: ask me if I remember what the Magnificent seven stocks are? 259 00:16:29,789 --> 00:16:34,450 Suze: I guess you want me to everybody. The mere fact 260 00:16:34,460 --> 00:16:38,229 Suze: that she wants me to ask her something means she 261 00:16:38,239 --> 00:16:40,450 Suze: wants to hear a ding, ding, ding because she already 262 00:16:40,460 --> 00:16:44,130 Suze: knows the answer. So let me play along with you, KT. KT, 263 00:16:44,799 --> 00:16:46,609 Suze: do you want this to be your quizzy? Do you 264 00:16:46,619 --> 00:16:54,109 Suze: happen to? Yeah, you do, KT, what are the seven magnificent stocks? 265 00:16:55,359 --> 00:17:02,479 KT: Ready? Apple, NVIDIA, Tesla, Microsoft Amazon? Meta and alphabet. 266 00:17:02,799 --> 00:17:05,649 Suze: She's doing this on her fingers. Everybody. And how do you 267 00:17:05,660 --> 00:17:06,650 Suze: happen to remember that? 268 00:17:06,660 --> 00:17:09,349 KT: Because when we first learned about them, you told me 269 00:17:09,359 --> 00:17:12,189 KT: I can give you a clue of how to remember. 270 00:17:12,219 --> 00:17:13,550 KT: Ant Mama. 271 00:17:14,129 --> 00:17:17,659 KT: Aunt spelled a nt. Not a UN T aunt mama 272 00:17:18,800 --> 00:17:19,099 KT: because you.. 273 00:17:19,530 --> 00:17:19,810 Suze: Are you 274 00:17:20,219 --> 00:17:22,280 Suze: ready? Ding, ding, ding, ding, ding, ding, ding. 275 00:17:24,619 --> 00:17:27,219 KT: Now, you better answer this question. 276 00:17:27,229 --> 00:17:30,979 Suze: All right, Erin, the reason I keep sighing as KT 277 00:17:30,989 --> 00:17:35,380 Suze: was reading that question is that I want all of 278 00:17:35,390 --> 00:17:37,879 Suze: you and I'm gonna respond to all of you here 279 00:17:37,890 --> 00:17:40,540 Suze: as if you all ask this question because I'm sure 280 00:17:40,989 --> 00:17:43,659 Suze: you all thought it at one time or another. 281 00:17:44,060 --> 00:17:49,399 Suze: What would have happened if on Monday of this week, 282 00:17:49,599 --> 00:17:52,739 Suze: just a few days ago, you had decided to go 283 00:17:52,750 --> 00:17:57,599 Suze: in 100% into one or two or three or all 284 00:17:57,609 --> 00:17:59,160 Suze: of the magnificent seven. 285 00:18:00,359 --> 00:18:03,540 Suze: Monday was an OK day. Everything was great on Monday. 286 00:18:04,329 --> 00:18:08,930 Suze: Then go back and look at what happened on Tuesday 287 00:18:09,420 --> 00:18:13,300 Suze: and let's say you bought on Monday, you would have 288 00:18:13,310 --> 00:18:16,790 Suze: been obliterated on Tuesday. 289 00:18:17,969 --> 00:18:22,150 Suze: So you have to know that you don't know that 290 00:18:22,160 --> 00:18:25,489 Suze: everything's gonna continue to go straight up or straight down. 291 00:18:25,500 --> 00:18:28,829 Suze: You have no idea what's really gonna happen because this 292 00:18:28,839 --> 00:18:31,660 Suze: is the stock market made up of people and people 293 00:18:31,670 --> 00:18:34,229 Suze: are unpredictable. Therefore, 294 00:18:35,089 --> 00:18:40,790 Suze: you have to continue to dollar cost average. Now, if 295 00:18:40,800 --> 00:18:44,589 Suze: you had been smart and let's say Tuesday had happened. 296 00:18:45,229 --> 00:18:49,609 Suze: You would have gone in on Tuesday and dollar cost 297 00:18:49,619 --> 00:18:53,530 Suze: averaged into whatever it was that you wanted to buy. 298 00:18:53,619 --> 00:18:56,800 Suze: Let's say you had $10,000 that you wanted to invest. 299 00:18:56,810 --> 00:19:00,530 Suze: So maybe you would have gone in and invested $2000 300 00:19:00,540 --> 00:19:06,329 Suze: on Tuesday. I can tell you on Tuesday in Colo's account, 301 00:19:06,510 --> 00:19:10,290 Suze: I absolutely went in and I bought more of the 302 00:19:10,300 --> 00:19:12,849 Suze: stocks that I love for him 303 00:19:13,069 --> 00:19:16,160 Suze: and I was actually so happy that the market was 304 00:19:16,170 --> 00:19:19,969 Suze: down so much on Tuesday because it allowed me to 305 00:19:19,979 --> 00:19:21,040 Suze: buy more. 306 00:19:21,829 --> 00:19:25,760 Suze: So, regardless of where it went on Wednesday and today, 307 00:19:25,770 --> 00:19:29,170 Suze: wherever it goes doesn't matter. I bought more of what 308 00:19:29,180 --> 00:19:32,599 Suze: I wanted and if these markets crash, I'll continue to 309 00:19:32,609 --> 00:19:36,489 Suze: buy more. If these markets had continued to go up, 310 00:19:36,500 --> 00:19:39,670 Suze: I also would have bought a little more of what 311 00:19:39,680 --> 00:19:43,770 Suze: I really wanted to own. So you have to dollar 312 00:19:43,780 --> 00:19:48,689 Suze: cost average. It's really as simple as that. 313 00:19:49,530 --> 00:19:53,660 KT: Next question is from Elba. Dear Suze. 314 00:19:54,349 --> 00:19:57,939 Suze: I like you just picked one with just my name. 315 00:19:58,520 --> 00:19:59,949 KT: Yes, it's: Dear Suze... 316 00:19:59,969 --> 00:20:01,619 Suze: Oh, you're so sweet. 317 00:20:02,729 --> 00:20:05,729 KT: It says dear Suze. I love your app's Dos and 318 00:20:05,739 --> 00:20:08,679 KT: don't cards. Tell people what that is on the app. 319 00:20:09,219 --> 00:20:11,420 Suze: I wonder they might even still be on the women 320 00:20:11,430 --> 00:20:13,910 Suze: and money community app or maybe I took them off. 321 00:20:13,920 --> 00:20:17,949 Suze: But with one of my programs, I had the dos 322 00:20:18,160 --> 00:20:22,030 Suze: and don't of money when it came to buying a home, 323 00:20:22,040 --> 00:20:24,989 Suze: buying a car, retirement plans, investing 324 00:20:25,105 --> 00:20:28,406 Suze: things like that because I found out that a long 325 00:20:28,416 --> 00:20:30,515 Suze: time ago that was more important to tell you what 326 00:20:30,526 --> 00:20:33,686 Suze: not to do than to tell you what to do. 327 00:20:33,776 --> 00:20:36,135 Suze: And as long as you didn't do certain things, you 328 00:20:36,145 --> 00:20:39,045 Suze: wouldn't make mistakes with your money and you'd be ok. 329 00:20:39,056 --> 00:20:41,845 KT: All right. And this one has to do with cars. 330 00:20:41,855 --> 00:20:45,306 KT: I wonder if you might consider, Suze, an exception on 331 00:20:45,316 --> 00:20:47,026 KT: the no lease rule. 332 00:20:48,362 --> 00:20:52,222 KT: Well, wait a minute, listen to this, listen to the full, wait, 333 00:20:52,232 --> 00:20:56,732 KT: listen to it. I have my financial house in exceptional 334 00:20:56,741 --> 00:21:01,891 KT: order to carry me through age 99. Thanks to listening 335 00:21:01,901 --> 00:21:06,332 KT: to you for decades. And I can afford a very 336 00:21:06,342 --> 00:21:11,921 KT: expensive car, but it's an electric car. Therefore, Suze, I 337 00:21:11,932 --> 00:21:15,140 KT: wanna lease for three years and then buy one 338 00:21:15,410 --> 00:21:19,040 KT: by which time it will likely come down in price 339 00:21:19,050 --> 00:21:23,579 KT: and increase in technology quality. I believe I will lose 340 00:21:23,589 --> 00:21:27,349 KT: less by leasing since I can afford it. Is it 341 00:21:27,359 --> 00:21:29,310 KT: ok to lease in this case? 342 00:21:30,079 --> 00:21:32,770 KT: There you go. And then she says she answers . You 343 00:21:32,780 --> 00:21:34,180 KT: are amazing. 344 00:21:34,849 --> 00:21:36,609 Suze: And she's trying to butter me up. 345 00:21:36,869 --> 00:21:39,639 KT: What do you think about that? I mean, it kind 346 00:21:39,650 --> 00:21:42,660 KT: of makes sense, right? Can you bend the rules? 347 00:21:43,219 --> 00:21:45,969 Suze: Sure. With somebody who has money that will last till 348 00:21:45,979 --> 00:21:46,560 Suze: 99 349 00:21:46,609 --> 00:21:48,329 KT: She's in great financial shape. 350 00:21:49,619 --> 00:21:52,339 Suze: Thing I just want to say when it comes to, 351 00:21:52,349 --> 00:21:54,619 Suze: especially a woman today. 352 00:21:55,300 --> 00:21:58,829 Suze: And especially maybe if the woman happens to be older, 353 00:21:59,619 --> 00:22:03,849 Suze: there's something about having a brand new car that makes 354 00:22:03,859 --> 00:22:07,060 Suze: them feel secure. KT, they don't want to break down 355 00:22:07,069 --> 00:22:09,640 Suze: on the highway, they want to make sure that they 356 00:22:09,650 --> 00:22:15,880 Suze: have the latest safety mechanisms and sometimes purchasing a car 357 00:22:15,890 --> 00:22:19,719 Suze: for just three years and then trading it in 358 00:22:20,550 --> 00:22:25,050 Suze: isn't worth it either. The concept being, especially if you 359 00:22:25,060 --> 00:22:29,609 Suze: don't have a lot of money, buy a car, finance 360 00:22:29,619 --> 00:22:32,369 Suze: it for 34 years at most now and then keep 361 00:22:32,380 --> 00:22:35,649 Suze: it for 10 or 12 years. So you don't have 362 00:22:35,660 --> 00:22:41,050 Suze: any more payments. But if you are somebody who feels 363 00:22:41,060 --> 00:22:41,849 Suze: safer 364 00:22:42,540 --> 00:22:45,390 Suze: and they want a new car every three years, you 365 00:22:45,400 --> 00:22:47,770 Suze: are a woman and you are older and you want 366 00:22:47,780 --> 00:22:51,800 Suze: that security and you have more than enough money to 367 00:22:51,810 --> 00:22:56,270 Suze: last you till your dying days. Most likely. But then 368 00:22:56,280 --> 00:22:59,919 Suze: you never know when you might live past 99 and 369 00:22:59,930 --> 00:23:03,219 Suze: it makes you feel secure, which is the goal of 370 00:23:03,229 --> 00:23:05,780 Suze: money to lease a car. 371 00:23:06,650 --> 00:23:09,250 Suze: Oh my God, you are AAAAA-prooved! 372 00:23:10,609 --> 00:23:12,599 KT: ding, ding, ding, ding, ding, ding, ding, ding, ding. 373 00:23:12,930 --> 00:23:16,790 Suze: There are exceptions to the rule but not many, but 374 00:23:16,800 --> 00:23:22,849 Suze: that's only because you have more money than you need. Ok. 375 00:23:23,349 --> 00:23:28,020 KT: Ok. Next is from Rose. I love that name. I 376 00:23:28,030 --> 00:23:29,510 KT: always liked that name. 377 00:23:30,640 --> 00:23:31,780 Suze: Rose is a rose... Is a rose. How did that go? 378 00:23:32,640 --> 00:23:34,540 KT: No, here's why I like the name Rose. 379 00:23:36,359 --> 00:23:39,400 KT: Wasn't that the name of her in the Titanic? 380 00:23:40,209 --> 00:23:42,290 Suze: Oh that I don't remember KT. 381 00:23:42,300 --> 00:23:46,400 KT: I like the name Rose. So, hello, Suze and KT 382 00:23:46,410 --> 00:23:49,430 KT: I am a 55 year old, single female. I work 383 00:23:49,439 --> 00:23:52,389 KT: hard and I do it all on my own. 384 00:23:52,790 --> 00:23:57,589 KT: I currently contribute 10% of my income to my 401k 385 00:23:57,599 --> 00:24:02,270 KT: Roth with a 6% match from my employer. I used 386 00:24:02,280 --> 00:24:08,310 KT: to contribute 12% but just lowered my contribution in 2024 387 00:24:08,420 --> 00:24:12,599 KT: to help pay off credit card debt. I currently have 388 00:24:12,609 --> 00:24:16,930 KT: about $7000 in credit card debt for which I pay 389 00:24:16,939 --> 00:24:19,430 KT: an average of 18%. 390 00:24:19,819 --> 00:24:23,619 KT: Is it a good idea to borrow from my employers 391 00:24:23,630 --> 00:24:28,630 KT: 401k to pay off all or some of my credit card debt? 392 00:24:29,050 --> 00:24:32,650 Suze: Now, KT was a lot like last week's question. But 393 00:24:32,660 --> 00:24:37,040 Suze: you know, the main difference, the main difference was last week, 394 00:24:37,050 --> 00:24:37,800 Suze: the person wanted 395 00:24:37,880 --> 00:24:41,468 Suze: to pay off their credit card debt for money outside 396 00:24:41,479 --> 00:24:44,579 Suze: of a retirement account. But in the investments, should they 397 00:24:44,589 --> 00:24:47,979 Suze: sell the investments? They have. This one wants to take 398 00:24:47,989 --> 00:24:53,219 Suze: money out of her 401k to pay off $7000 of debt. Now, 399 00:24:53,229 --> 00:24:56,938 Suze: you heard how I answered it last week. Here's the 400 00:24:56,949 --> 00:25:00,469 Suze: next pop quizzy. What would you tell this person? Yes 401 00:25:00,479 --> 00:25:01,040 Suze: or no? 402 00:25:01,680 --> 00:25:02,319 KT: No. 403 00:25:02,359 --> 00:25:03,020 Suze: Why? 404 00:25:03,030 --> 00:25:05,050 KT: If she has a good FICO score, 405 00:25:05,400 --> 00:25:09,400 KT: she should look into consolidating this credit card debt and 406 00:25:09,410 --> 00:25:10,099 Suze: Doing a balance transfer. And by else not? 407 00:25:12,829 --> 00:25:17,459 KT: You don't want to mess up your employer's 401k. You're Roth. 408 00:25:17,469 --> 00:25:19,688 KT: It's a Roth. You have to pay taxes, 409 00:25:19,930 --> 00:25:29,339 Suze: Not necessarily but pretty good KT! I'll give you a ding ding ding! So here's the thing 410 00:25:29,349 --> 00:25:30,760 Suze: you need to understand. 411 00:25:31,510 --> 00:25:36,069 Suze: It is probable that we're really at this point in time, 412 00:25:36,079 --> 00:25:41,439 Suze: in a great, great economy and all indications are that 413 00:25:41,449 --> 00:25:47,099 Suze: the market could absolutely continue up. So I don't want 414 00:25:47,109 --> 00:25:51,489 Suze: you to borrow from your employer 401k plan because remember 415 00:25:51,500 --> 00:25:55,430 Suze: any loan that you take from your employer, 416 00:25:55,969 --> 00:25:58,510 Suze: if God forbid you lose your job, you have to 417 00:25:58,520 --> 00:26:02,589 Suze: quit or whatever usually is due and payable within that month. 418 00:26:02,599 --> 00:26:06,989 Suze: Now you have a Roth retirement account. So it really 419 00:26:07,000 --> 00:26:10,199 Suze: wouldn't be that bad. But I don't want you to 420 00:26:10,209 --> 00:26:14,270 Suze: take money out of a Roth retirement account right now. 421 00:26:14,489 --> 00:26:17,930 Suze: Given what is very possible to happen in the markets 422 00:26:17,959 --> 00:26:19,948 Suze: over the next year 423 00:26:20,650 --> 00:26:23,310 Suze: now, maybe we're wrong and maybe it will go down. 424 00:26:23,439 --> 00:26:27,629 Suze: So with only about $7000 of credit card debt, I 425 00:26:27,640 --> 00:26:32,938 Suze: would much rather see you do a balance transfer at 426 00:26:32,949 --> 00:26:36,630 Suze: a 0% interest rate again if you have a good 427 00:26:36,770 --> 00:26:43,599 Suze: FICO score or contact NFCC.org N like in Nancy, F 428 00:26:43,609 --> 00:26:48,188 Suze: like in Francine, C like in Crazy, C 429 00:26:48,290 --> 00:26:55,790 Suze: like in cool.org and talk to them about possibly consolidating 430 00:26:55,800 --> 00:26:58,649 Suze: all of your credit card debt to a 0% interest rate. 431 00:26:58,660 --> 00:27:01,209 Suze: Pay them, they pay it off and there you go. 432 00:27:01,310 --> 00:27:04,989 Suze: But no, it's not a good idea to ever take 433 00:27:05,000 --> 00:27:09,188 Suze: money out of any retirement account to pay off. An 434 00:27:09,199 --> 00:27:12,670 Suze: unsecured debt. Got that. Ok. 435 00:27:13,369 --> 00:27:16,310 KT: I picked the next one, Suze because this, this is 436 00:27:16,319 --> 00:27:20,469 KT: from Rachel, Rachel, I think may be the perfect match 437 00:27:20,479 --> 00:27:24,140 KT: for Joe, which is our first question of today's podcast. 438 00:27:24,390 --> 00:27:25,228 Suze: Now, you're being a matchmaker? 439 00:27:25,469 --> 00:27:27,698 KT: Yes, I am. You ready everybody? You tell me if I'm 440 00:27:27,709 --> 00:27:28,829 KT: good with this one. 441 00:27:29,119 --> 00:27:33,479 KT: Hi, Suze. I just finished my Excel spreadsheet that I 442 00:27:33,489 --> 00:27:39,689 KT: used to document my spendings and savings overall. I saved 42% 443 00:27:39,709 --> 00:27:41,380 KT: of my A G I 444 00:27:41,660 --> 00:27:42,639 Suze: Adjusted gross income. 445 00:27:42,729 --> 00:27:45,949 KT: Right. My problem is though, why doesn't it feel like 446 00:27:45,959 --> 00:27:47,250 KT: I'm doing enough? 447 00:27:47,260 --> 00:27:49,589 Suze: So, so you mean a good emotional match with the 448 00:27:49,599 --> 00:27:53,069 Suze: same problem because we don't know anybody's sexuality here? Ok. 449 00:27:53,079 --> 00:27:53,989 Suze: Go on KT 450 00:27:54,000 --> 00:27:54,489 KT: Ready? 451 00:27:54,790 --> 00:27:58,640 KT: My income is hourly and dependent on the number of hours. 452 00:27:58,650 --> 00:28:01,969 KT: I work at the hospital. My goal has always been 453 00:28:01,979 --> 00:28:06,650 KT: to be paid for an 80 hour pay period, but 454 00:28:06,660 --> 00:28:10,329 KT: it isn't always possible largely due to burn out. 455 00:28:10,729 --> 00:28:14,780 KT: I fear I'm developing an unhealthy relationship or view with 456 00:28:14,790 --> 00:28:18,040 KT: my money or feel limited by it. And I don't 457 00:28:18,050 --> 00:28:21,859 KT: like that feeling. I want to be happy knowing I'm 458 00:28:21,869 --> 00:28:24,540 KT: doing what I know and the best that I can 459 00:28:24,719 --> 00:28:28,020 KT: without sacrificing the fun of being young 460 00:28:28,270 --> 00:28:32,209 KT: because getting old isn't always a guarantee. 461 00:28:32,380 --> 00:28:33,930 Suze: Because she's a nurse and she sees... how old is she? 462 00:28:35,479 --> 00:28:39,369 KT: She's 27. Joe was 39. I thought maybe they could 463 00:28:39,380 --> 00:28:40,729 KT: talk to each other, Seriosuly. 464 00:28:41,959 --> 00:28:44,869 Suze: You know, it's not a bad idea, KT. That somewhere 465 00:28:44,880 --> 00:28:46,020 Suze: we start a group, 466 00:28:47,569 --> 00:28:48,250 KT: Like group therapy. 467 00:28:52,189 --> 00:28:55,260 KT: He has financial fears like him. But what would you tell Rachel? 468 00:28:55,859 --> 00:28:57,810 Suze: Well, there is a course, you know, that I have 469 00:28:57,819 --> 00:29:03,630 Suze: KT which is overcoming your fears and because fears, my 470 00:29:03,640 --> 00:29:06,969 Suze: dear Rachel about money, I'm going to tell you exactly 471 00:29:06,979 --> 00:29:09,760 Suze: the same thing I kind of said to Joe, which 472 00:29:09,770 --> 00:29:15,040 Suze: is if you feel like you have an unhealthy relationship 473 00:29:15,050 --> 00:29:15,969 Suze: with your money 474 00:29:16,739 --> 00:29:22,130 Suze: and money is simply a physical manifestation of who you are. 475 00:29:22,630 --> 00:29:25,680 Suze: What that says to me is that you have an 476 00:29:25,689 --> 00:29:31,500 Suze: unhealthy relationship with yourself. You know, I can relate to 477 00:29:31,510 --> 00:29:36,400 Suze: this because if you remember my story growing up, that 478 00:29:36,410 --> 00:29:40,479 Suze: the reason I thought my parents were so unhappy is 479 00:29:40,489 --> 00:29:42,439 Suze: because they didn't really have any money. 480 00:29:42,819 --> 00:29:46,119 Suze: And I really grew up believing, oh, if I just 481 00:29:46,130 --> 00:29:50,119 Suze: had money, I would be happy, I would feel great. 482 00:29:50,130 --> 00:29:54,390 Suze: Everything would be good. And then 1980 I'm hired by 483 00:29:54,400 --> 00:29:59,229 Suze: Merrill Lynch. And before you know it, I'm making $120 - 13000 484 00:29:59,239 --> 00:30:01,589 Suze: a year and I'm still miserable. 485 00:30:02,130 --> 00:30:04,619 Suze: So then the question was, well, if money isn't the 486 00:30:04,630 --> 00:30:08,530 Suze: key to happiness, what is? And that's when I started 487 00:30:08,540 --> 00:30:12,390 Suze: on this journey of having to look within to see 488 00:30:12,400 --> 00:30:16,500 Suze: why I am doing without happiness, even though I have money. 489 00:30:16,800 --> 00:30:21,739 Suze: So just maybe if you have what it takes to 490 00:30:21,750 --> 00:30:25,109 Suze: save 42% of your adjusted gross income, 491 00:30:25,760 --> 00:30:29,420 Suze: and you still feel that you have an unhealthy relationship 492 00:30:29,430 --> 00:30:30,459 Suze: with your money. 493 00:30:31,599 --> 00:30:34,489 Suze: I want you to write down the things that you 494 00:30:34,500 --> 00:30:37,859 Suze: don't like about yourself, forget about money that you don't 495 00:30:37,869 --> 00:30:39,260 Suze: like about yourself. 496 00:30:39,959 --> 00:30:42,680 Suze: Do you not like the fact that you're afraid to 497 00:30:42,689 --> 00:30:45,979 Suze: go out to eat once a week? Are you afraid 498 00:30:45,989 --> 00:30:49,989 Suze: to go on a vacation? What are you afraid about? 499 00:30:50,000 --> 00:30:53,060 Suze: And what don't you like about yourself? Then what I 500 00:30:53,069 --> 00:30:57,650 Suze: want you to do is just pick one of those things, 501 00:30:58,069 --> 00:31:00,459 Suze: one of them and I want you to do it. 502 00:31:01,189 --> 00:31:03,530 Suze: I want you to try it. I want you to 503 00:31:03,540 --> 00:31:05,760 Suze: see how that feels 504 00:31:06,760 --> 00:31:10,380 Suze: and we can then go from there. You know, you 505 00:31:10,390 --> 00:31:14,640 Suze: might wanna take a look into my book, The Nine 506 00:31:14,650 --> 00:31:18,930 Suze: Steps To Financial Freedom and about Money Memories. Or again, 507 00:31:18,939 --> 00:31:23,510 Suze: the course that I just talked about that pretty much 508 00:31:23,520 --> 00:31:26,738 Suze: is on the women and Money app on the Suze 509 00:31:26,750 --> 00:31:31,020 Suze: shop there and go through those exercises 510 00:31:31,489 --> 00:31:35,910 Suze: and I can promise you you will uncover that the 511 00:31:35,920 --> 00:31:37,989 Suze: problem isn't with money 512 00:31:39,099 --> 00:31:44,089 Suze: isn't about the fear of money isn't about not getting 513 00:31:44,099 --> 00:31:46,310 Suze: appreciation about money. 514 00:31:47,280 --> 00:31:53,479 Suze: It starts with not having appreciation of how really incredible 515 00:31:53,489 --> 00:31:54,569 Suze: you are. 516 00:31:55,670 --> 00:31:59,260 Suze: Well, those were two interesting ones that you pick and 517 00:31:59,949 --> 00:32:04,400 Suze: to begin, those were like book ends. And, you know, 518 00:32:04,449 --> 00:32:08,439 Suze: we also talked about Philomena and her two boys, right? 519 00:32:08,449 --> 00:32:11,119 Suze: But as being a nurse and how she really wanted 520 00:32:11,130 --> 00:32:14,239 Suze: to help financially all these other nurses. 521 00:32:14,939 --> 00:32:18,709 Suze: And then here we have Rachel who's also a nurse 522 00:32:18,729 --> 00:32:21,599 Suze: and who wants to work, work, work. So she can 523 00:32:21,609 --> 00:32:24,709 Suze: make more money. Or does she really want to work, work, 524 00:32:24,719 --> 00:32:28,479 Suze: work to help more people? Who knows? Right. But it's 525 00:32:28,489 --> 00:32:32,400 Suze: interesting that when you do work as a nurse and 526 00:32:32,410 --> 00:32:38,160 Suze: you see reality, the hard core reality of life every 527 00:32:38,170 --> 00:32:40,800 Suze: single day and how fragile it is, 528 00:32:41,510 --> 00:32:44,670 Suze: it sometimes shapes you with what you do and you 529 00:32:44,680 --> 00:32:45,369 Suze: don't do. 530 00:32:45,599 --> 00:32:47,969 KT: She's 27 years old. She gets burned out. 531 00:32:48,589 --> 00:32:51,869 Suze: Of course she does, right. But it's just to all of the 532 00:32:51,880 --> 00:32:55,150 Suze: nurses out there, we love you, 533 00:32:56,140 --> 00:32:59,010 Suze: we need you, we need you both KT and I 534 00:32:59,020 --> 00:33:02,270 Suze: can tell you we appreciate you more than you have 535 00:33:02,280 --> 00:33:06,640 Suze: any idea. Any idea. You've been my life savers many 536 00:33:06,650 --> 00:33:10,369 Suze: times too. And yeah, you did have to save KT 537 00:33:10,380 --> 00:33:13,810 Suze: as well for me. Right. Just keep doing your work. 538 00:33:13,819 --> 00:33:15,579 Suze: Keep loving who you are. 539 00:33:16,359 --> 00:33:19,430 Suze: And I have no doubt that one day you'll always 540 00:33:19,439 --> 00:33:24,290 Suze: have more than you need financially to take care of yourself. So, 541 00:33:24,300 --> 00:33:29,109 Suze: until Sunday for another Suze School, there's only one thing 542 00:33:29,119 --> 00:33:31,079 Suze: that we want you to remember when it comes to 543 00:33:31,089 --> 00:33:31,750 Suze: your money. 544 00:33:32,420 --> 00:33:36,959 Suze: And that is people first and again, that is on 545 00:33:36,969 --> 00:33:42,020 Suze: some level. Exactly what this podcast was about today. Self worth, 546 00:33:42,030 --> 00:33:45,839 Suze: self worth, self worth. Then what happens KT? 547 00:33:45,849 --> 00:33:46,989 KT: Then money. 548 00:33:47,010 --> 00:33:49,619 Suze: Then what happens? Then you have what it takes to 549 00:33:49,630 --> 00:33:58,540 Suze: buy things and all right. So until then you remain unstoppable.