1 00:00:00,449 --> 00:00:00,699 Music: Music (In). 2 00:00:34,080 --> 00:00:38,568 Suze: June 1st 2023. Welcome everybody... 3 00:00:38,590 --> 00:00:40,778 KT: Especially the Geminis. 4 00:00:40,790 --> 00:00:44,839 Suze: Oh, here we go. We go to the Women and 5 00:00:44,848 --> 00:00:50,680 Suze: Money podcast as well as everybody smart enough to listen. 6 00:00:51,020 --> 00:00:54,180 Suze: This is the Ask KT and and Suze Anything edition. 7 00:00:54,750 --> 00:00:56,860 KT: It's Suze's birthday month, 8 00:00:57,659 --> 00:01:00,619 KT: June 5th. Everybody if you want, if you want to 9 00:01:00,630 --> 00:01:04,300 KT: write a message on the wall, wishing her happy birthday, June... 10 00:01:05,129 --> 00:01:07,480 Suze: Well, let me tell you why I'm so excited about 11 00:01:07,489 --> 00:01:10,120 Suze: this birthday. Do you know why I'm so excited? 12 00:01:10,529 --> 00:01:11,029 KT: No. 13 00:01:11,220 --> 00:01:13,400 Suze: Come on. No, no. Come on. 14 00:01:13,834 --> 00:01:14,055 KT: Because we're going out to a romantic dinner together? 15 00:01:15,065 --> 00:01:15,154 Suze: Besides that... 16 00:01:18,275 --> 00:01:18,714 KT: No, I really don't. 17 00:01:20,665 --> 00:01:22,434 Suze: I'm gonna be 72... 18 00:01:22,705 --> 00:01:27,595 KT: Oh, because 7 and 2.. because it adds up to nine. Oh, all right. 19 00:01:27,875 --> 00:01:29,324 Suze: All right. So tell everybody 20 00:01:29,629 --> 00:01:32,259 KT: She's gonna be 72 it adds up to nine, 21 00:01:34,660 --> 00:01:36,319 KT: and 9 is her lucky number. 22 00:01:36,419 --> 00:01:38,370 Suze: So, you know, if you ever... 23 00:01:38,790 --> 00:01:43,378 KT: This year is my lucky number eight, you should be equally happy. Sad. 24 00:01:43,389 --> 00:01:45,239 KT: You're leaving eight but going to nine. 25 00:01:45,550 --> 00:01:47,080 Suze: I was not happy I was in eight. 26 00:01:47,889 --> 00:01:48,980 KT: It's my lucky number. 27 00:01:49,279 --> 00:01:52,989 Suze: Yes, but it's your lucky number. Not my lucky number. My 28 00:01:53,000 --> 00:01:55,629 Suze: lucky number is nine. And I just want to say this, 29 00:01:55,639 --> 00:01:59,519 Suze: if you really was kind of like a detective, a 30 00:01:59,529 --> 00:02:04,410 Suze: book detective, you would find that every book I've written 31 00:02:04,459 --> 00:02:07,500 Suze: has something to do with the number nine. Whether it's 32 00:02:07,510 --> 00:02:09,989 Suze: the nine steps to financial freedom 33 00:02:10,220 --> 00:02:15,679 Suze: or the road to wealth that had 2052 questions and 34 00:02:15,690 --> 00:02:20,210 Suze: answers in them, which added up to nine. Somewhere, there's 35 00:02:20,220 --> 00:02:23,990 Suze: a secret in every book that adds up to nine 36 00:02:24,000 --> 00:02:31,220 Suze: because nine is the number of spiritual and material abundance. Yeah, 37 00:02:31,229 --> 00:02:32,809 KT: And longevity too. 38 00:02:33,119 --> 00:02:37,199 KT: All right. OK. I'm ready first. Everyone. Thank you for 39 00:02:37,210 --> 00:02:40,758 KT: sending such great questions. I have a really nice mixed 40 00:02:40,919 --> 00:02:44,320 KT: assortment here. Almost like a box of chocolates. I'm very 41 00:02:44,330 --> 00:02:50,929 KT: happy about today. Box of chocolates. First is from Jennifer. Hi, Suze and KT. 42 00:02:52,008 --> 00:02:55,970 KT: It's because of you. I became interested in finance and 43 00:02:55,979 --> 00:02:59,690 KT: years later decided to pursue a career in it. Thank you. 44 00:02:59,979 --> 00:03:03,119 KT: And then Jennifer's asking, Suze, would you help me and 45 00:03:03,130 --> 00:03:06,429 KT: other listeners understand how trusts work 46 00:03:06,750 --> 00:03:09,800 KT: my mom is considering one to start the five year 47 00:03:09,809 --> 00:03:13,299 KT: look back. But I'm wondering if my sister and I 48 00:03:13,309 --> 00:03:16,639 KT: would lose this step up and cost basis on her 49 00:03:16,649 --> 00:03:22,399 KT: home when she passes any guidance you provide is greatly appreciated. 50 00:03:22,809 --> 00:03:27,699 Suze: So you just picked a really simple question, right? To start this podcast, 51 00:03:27,710 --> 00:03:31,449 KT: I picked the most important one, I felt. Everyone needs 52 00:03:31,460 --> 00:03:32,380 KT: a will and a trust. 53 00:03:32,589 --> 00:03:36,139 Suze: So, Jennifer here's what's very important for you to understand 54 00:03:36,570 --> 00:03:40,339 Suze: that. When you say my mom is considering a trust 55 00:03:40,350 --> 00:03:45,360 Suze: to start the five year look back. Everybody do not 56 00:03:45,369 --> 00:03:50,110 Suze: get confused between what a five year look back is 57 00:03:50,369 --> 00:03:55,320 Suze: and a five year holding period for your Roth retirement 58 00:03:55,330 --> 00:04:00,679 Suze: accounts very, very different. When you get older. If you 59 00:04:00,690 --> 00:04:02,740 Suze: need to on any level, 60 00:04:03,649 --> 00:04:08,360 Suze: possibly think that you're going to have to apply for Medicaid. 61 00:04:08,750 --> 00:04:11,979 Suze: And Medicaid is when you go into, let's say a 62 00:04:11,990 --> 00:04:15,130 Suze: nursing home and you want Medicaid to pay for it 63 00:04:15,139 --> 00:04:17,459 Suze: versus your own money. 64 00:04:18,559 --> 00:04:23,789 Suze: What happens is whenever you apply for Medicaid, they will 65 00:04:23,799 --> 00:04:27,250 Suze: look back for five years 66 00:04:27,839 --> 00:04:33,269 Suze: to see what money have you given away within that 67 00:04:33,279 --> 00:04:38,989 Suze: five year period of time. That then disqualifies you from Medicaid. 68 00:04:39,059 --> 00:04:43,399 Suze: Money that you've given away before five years of a 69 00:04:43,410 --> 00:04:47,118 Suze: look back, that money is included. So if mommy was 70 00:04:47,130 --> 00:04:50,159 Suze: to give you money, Jennifer, if mommy was to do 71 00:04:50,170 --> 00:04:53,309 Suze: something else with money to get it out of her estate, 72 00:04:53,899 --> 00:04:59,850 Suze: and then five years pass from that time, then Medicaid 73 00:04:59,859 --> 00:05:03,339 Suze: cannot go back on the money that she gave away. 74 00:05:03,350 --> 00:05:07,950 Suze: But there's a five year look back. Now, will a 75 00:05:07,959 --> 00:05:12,470 Suze: trust make it so that you no longer get a 76 00:05:12,480 --> 00:05:14,609 Suze: step up in cost bases on her home 77 00:05:14,674 --> 00:05:18,785 Suze: when she passes? No, it won't. You will be fine 78 00:05:18,795 --> 00:05:20,613 Suze: that way. Next question, KT. 79 00:05:21,165 --> 00:05:25,084 KT: Ok, next question, Suze is from Clay. Clay. We're going 80 00:05:25,095 --> 00:05:28,005 KT: to send a little luck your way. Clay said Hi, 81 00:05:28,015 --> 00:05:30,765 KT: Suze and KT. I won the lottery 82 00:05:31,220 --> 00:05:35,779 KT: and then they then, ok, maybe I didn't. The question 83 00:05:35,790 --> 00:05:39,309 KT: is this, is there ever a scenario, Suze where you 84 00:05:39,320 --> 00:05:43,109 KT: should take the annuity over the cash amount? 85 00:05:43,130 --> 00:05:46,829 Suze: Actually, there is my dear Clay. Do you know that 86 00:05:46,839 --> 00:05:51,779 Suze: I have a friend who had won the lottery twice. 87 00:05:52,320 --> 00:05:54,589 Suze: Right KT is looking at me, Annie. 88 00:05:54,859 --> 00:06:00,209 Suze: Right. Right. She won it twice and the first time 89 00:06:00,220 --> 00:06:03,010 Suze: she got quite a bit of money for her anyway, 90 00:06:03,019 --> 00:06:05,880 Suze: it was like three or $4 million I believe and 91 00:06:05,890 --> 00:06:06,489 Suze: blew it 92 00:06:07,119 --> 00:06:11,450 Suze: and then she won it again and I think may 93 00:06:11,459 --> 00:06:15,529 Suze: have blown it. But the point of the matter is 94 00:06:15,769 --> 00:06:21,290 Suze: that if it's a really large sum, I mean, image it, 95 00:06:21,299 --> 00:06:25,170 Suze: everybody here you are and all of a sudden after 96 00:06:25,178 --> 00:06:31,669 Suze: taxes you are going to have 300, 400, 500 million dollars possibly. 97 00:06:33,589 --> 00:06:37,480 Suze: That is all of a sudden, yours. Would you know 98 00:06:37,488 --> 00:06:39,678 Suze: what to do with it, really? 99 00:06:40,540 --> 00:06:44,769 Suze: If you don't think that is a tremendous responsibility, I'm 100 00:06:44,779 --> 00:06:49,589 Suze: here to tell you. It absolutely is. So, depending on 101 00:06:49,600 --> 00:06:54,359 Suze: your sophistication and the amount of money that you're winning 102 00:06:54,369 --> 00:06:58,410 Suze: in the lottery, in that case, you might be better 103 00:06:58,420 --> 00:07:01,750 Suze: off just taking the annuity and knowing that you're gonna 104 00:07:01,760 --> 00:07:05,950 Suze: have income coming in every single year for a long 105 00:07:05,959 --> 00:07:07,190 Suze: period of time. 106 00:07:07,670 --> 00:07:11,880 Suze: However, if somebody like me truthfully was to win the lottery, 107 00:07:11,959 --> 00:07:16,130 Suze: I would take it in a lump sum. But all 108 00:07:16,140 --> 00:07:19,200 Suze: the people that have come to me who have won 109 00:07:19,209 --> 00:07:23,470 Suze: the lottery and taken it in a lump sum. I'm 110 00:07:23,480 --> 00:07:27,399 Suze: here to tell you that money is totally gone. 111 00:07:27,820 --> 00:07:30,339 Suze: Your family comes out of the woodwork. You want to 112 00:07:30,350 --> 00:07:34,059 Suze: do this, you want to do that be very, very careful. 113 00:07:34,200 --> 00:07:38,630 Suze: So that's the type of situation that can get you 114 00:07:38,640 --> 00:07:40,929 Suze: in trouble, believe it or not. Go on KT. 115 00:07:42,399 --> 00:07:42,649 KT: Ok... 116 00:07:42,730 --> 00:07:44,540 Suze: Would you take it in a lump sum without me? 117 00:07:44,690 --> 00:07:46,959 KT: At this age? Absolutely. 118 00:07:47,230 --> 00:07:49,470 Suze: Would you know what to do with it? Let's say 119 00:07:49,480 --> 00:07:50,600 Suze: it was a large one. 120 00:07:51,100 --> 00:07:52,790 KT: I would probably sit down 121 00:07:52,799 --> 00:07:56,070 Suze: and call John. All right. Go on, give me. All right. 122 00:07:56,079 --> 00:07:56,890 Suze: Go on. 123 00:07:57,230 --> 00:08:01,070 KT: Hi, Suze and KT. Suze, you saved our butts big 124 00:08:01,079 --> 00:08:02,959 KT: time in 2008. 125 00:08:03,329 --> 00:08:07,269 KT: Didn't make money but didn't lose our principle. That's a, 126 00:08:07,279 --> 00:08:10,079 KT: that's a big deal. Does everyone know about 2000? 127 00:08:10,600 --> 00:08:10,670 Suze: They know. 128 00:08:12,519 --> 00:08:16,410 KT: All right. Listen to you religiously now, educating myself. I've 129 00:08:16,420 --> 00:08:21,420 KT: taken over everything. My husband is 80 and assisted living 130 00:08:21,429 --> 00:08:25,619 KT: permanently have long term care though. It was a huge 131 00:08:25,630 --> 00:08:29,079 KT: fight to get them to pay. I am now 76 132 00:08:29,230 --> 00:08:31,459 KT: an avid Zumba dancer. 133 00:08:31,910 --> 00:08:32,869 Suze: I need to take that up. 134 00:08:33,590 --> 00:08:37,679 KT: We have no children, dependents or pets. So here's the question. 135 00:08:37,690 --> 00:08:41,900 KT: It says question and problem. I must make decisions regarding 136 00:08:41,909 --> 00:08:47,218 KT: his IRA in a brokerage firm. Presently, money's in cash. 137 00:08:47,229 --> 00:08:52,859 KT: A government money market fund 500,000 is covered by SIPIC, 138 00:08:54,299 --> 00:08:54,699 KT: but the 139 00:08:54,784 --> 00:08:59,445 KT: account is over that. So the question is, please help. 140 00:08:59,455 --> 00:09:04,593 KT: How do I pick CDs and trusts, reliabe, hopefully stable 141 00:09:04,604 --> 00:09:11,085 KT: banks or other offerings with problematic banking environment and concerns 142 00:09:11,094 --> 00:09:15,755 KT: about FDIC's ability to cover the future failures while she's 143 00:09:15,765 --> 00:09:20,284 KT: assuming future failures? Do we do a CD ladder? That's 144 00:09:20,294 --> 00:09:24,135 KT: something you've been recommending for future years or go short term. 145 00:09:24,520 --> 00:09:26,510 KT: So, so what should she do? 146 00:09:26,979 --> 00:09:31,010 Suze: You know, it's very difficult because we're still in the 147 00:09:31,020 --> 00:09:35,119 Suze: middle of all of this? Yes, I know that last 148 00:09:35,130 --> 00:09:38,729 Suze: weekend they said they think they came to a, you know, 149 00:09:38,739 --> 00:09:42,479 Suze: conclusion or agreement on how they can do this with 150 00:09:42,489 --> 00:09:45,020 Suze: the debt ceiling. Now, it's got to go and I'm 151 00:09:45,030 --> 00:09:48,329 Suze: sure it'll take a little bit because remember the deadline 152 00:09:48,340 --> 00:09:53,229 Suze: is June 5th now, however, here's what I would say 153 00:09:53,239 --> 00:09:53,969 Suze: to you 154 00:09:54,340 --> 00:10:00,079 Suze: is that probably at the brokerage firm that you're at, 155 00:10:00,619 --> 00:10:05,859 Suze: they have CDs at different kinds of banks. And if 156 00:10:05,869 --> 00:10:10,479 Suze: you just stick with really large banks, JP Morgan, things 157 00:10:10,489 --> 00:10:15,799 Suze: like that, your certificate of deposit should be just fine. However, 158 00:10:16,049 --> 00:10:19,349 Suze: I'm a tremendous advocate as you may know, 159 00:10:19,729 --> 00:10:24,599 Suze: if you're going to do CDs, a great interest rate 160 00:10:24,609 --> 00:10:29,510 Suze: right now within a retirement account I would so take 161 00:10:29,520 --> 00:10:33,319 Suze: up to $200,000 let's say because again, you never really 162 00:10:33,330 --> 00:10:37,709 Suze: want to go over the 250 limit with insurance unless 163 00:10:37,719 --> 00:10:38,960 Suze: you know how to do it. 164 00:10:39,570 --> 00:10:42,299 Suze: But I would take that money and I would so 165 00:10:42,309 --> 00:10:49,099 Suze: open up, believe it or not, an IRA rollover at Alliant Credit 166 00:10:49,109 --> 00:10:56,099 Suze: Union where you could do in 18 19 20 21 22 167 00:10:56,109 --> 00:11:05,380 Suze: 23 month CD any of those months and lock in 5.15%. 168 00:11:05,780 --> 00:11:11,429 Suze: So that is something that I would think about because again, 169 00:11:11,510 --> 00:11:15,789 Suze: I would feel more secure in a credit union with 170 00:11:15,799 --> 00:11:18,849 Suze: N C U A insurance where I knew that it 171 00:11:18,859 --> 00:11:22,710 Suze: was safe and sound than in banks where I didn't 172 00:11:22,719 --> 00:11:27,059 Suze: exactly know what they were invested in. If you're interested 173 00:11:27,070 --> 00:11:30,729 Suze: in that, go to my alliant dot com. 174 00:11:31,130 --> 00:11:34,789 KT: Ready. This next one's from Maryann now, Maryanne's 37. Her 175 00:11:34,799 --> 00:11:38,559 KT: husband's 47. They are first time parents and they live 176 00:11:38,570 --> 00:11:41,699 KT: in New Jersey. They have a daughter who is now 177 00:11:41,710 --> 00:11:46,239 KT: five months old and Maryann said, Suze, I'm lost as 178 00:11:46,250 --> 00:11:50,919 KT: to what to set up for her savings. Checking, CDs. I've 179 00:11:50,929 --> 00:11:54,039 KT: never been a particularly good saver but I want to 180 00:11:54,049 --> 00:11:55,260 KT: do it for her. 181 00:11:55,559 --> 00:11:57,709 KT: She should do it, mommy. You should do it for 182 00:11:57,719 --> 00:12:00,909 KT: you first. All right, ready. We opened a 529 in 183 00:12:00,919 --> 00:12:04,429 KT: New York and we'll try to max out the contribution 184 00:12:04,440 --> 00:12:08,119 KT: for the year and So she's asking you, Suze, wha 185 00:12:08,130 --> 00:12:11,530 KT: do you recommend? What do they do? Now, the little 186 00:12:11,539 --> 00:12:15,460 KT: girl is getting gifts for birthdays. Um all kinds of events... 187 00:12:15,789 --> 00:12:19,280 Suze: That's simple. Put it all in the 529 you know, be 188 00:12:19,289 --> 00:12:23,549 Suze: very careful about opening up, you know, uniform gift to 189 00:12:23,559 --> 00:12:24,030 Suze: minors 190 00:12:24,130 --> 00:12:26,419 Suze: account for her and things like that because that will 191 00:12:26,429 --> 00:12:31,090 Suze: count even more so against financial aid. So just take 192 00:12:31,099 --> 00:12:36,358 Suze: all of her gifts and add it into her 529 plan. 193 00:12:36,369 --> 00:12:37,900 Suze: Not a big deal. 194 00:12:37,909 --> 00:12:42,460 KT: Yes. Ok. Next question is from Jubilee Love that name. 195 00:12:42,989 --> 00:12:46,239 KT: Can you explain why you did not want us to 196 00:12:46,250 --> 00:12:49,950 KT: take advantage of the one month T bills when they 197 00:12:49,960 --> 00:12:56,039 KT: were almost at 6.5 to 7%? Is that a long answer? 198 00:12:56,650 --> 00:13:00,488 Suze: That's not a long answer, but it's an interesting one 199 00:13:00,500 --> 00:13:01,500 Suze: in that 200 00:13:02,969 --> 00:13:04,799 Suze: I am not somebody 201 00:13:05,539 --> 00:13:09,280 Suze: who likes to take big risks with money that is 202 00:13:09,289 --> 00:13:12,979 Suze: meant to be safe and sound and money that is 203 00:13:12,989 --> 00:13:16,179 Suze: meant to be safe and sound is usually money that 204 00:13:16,190 --> 00:13:21,659 Suze: is put into a treasury. That's where it's usually put. 205 00:13:21,799 --> 00:13:24,939 Suze: And so otherwise, why would it be there? Otherwise it 206 00:13:24,950 --> 00:13:27,640 Suze: would be in the stock market or someplace like that. 207 00:13:27,979 --> 00:13:32,070 Suze: When I see interest rates go up that high, that 208 00:13:32,080 --> 00:13:33,280 Suze: is not a good sign. 209 00:13:33,789 --> 00:13:37,179 Suze: That is a sign that in my opinion, the government 210 00:13:37,190 --> 00:13:40,419 Suze: needs this money. They're running short, they need you to invest, 211 00:13:40,429 --> 00:13:45,020 Suze: they're enticing you. I am not enticed by an interest rate. 212 00:13:45,669 --> 00:13:49,729 Suze: I am enticed by a situation that I know is 213 00:13:49,739 --> 00:13:54,618 Suze: safe and sound and just because everybody said, oh, they're 214 00:13:54,630 --> 00:13:58,679 Suze: gonna sign at the last moment. Don't worry about it. 215 00:13:58,840 --> 00:14:02,949 Suze: I do worry about it and I wait to see 216 00:14:02,960 --> 00:14:08,479 Suze: what happens. And so I'm just somebody who looks at 217 00:14:08,489 --> 00:14:11,150 Suze: the risk versus the reward. All right. Now, let's just 218 00:14:11,159 --> 00:14:12,608 Suze: look at this for a second. 219 00:14:13,130 --> 00:14:17,900 Suze: You put in, let's just say $10,000 into a one 220 00:14:17,909 --> 00:14:22,150 Suze: month T bill. We're talking about that in that one month, 221 00:14:22,159 --> 00:14:27,979 Suze: maybe you would have made $58 in interest. So was 222 00:14:27,989 --> 00:14:33,250 Suze: $58 in interest for that one month worth, who knows 223 00:14:33,260 --> 00:14:36,309 Suze: what would have happened if there really was a default 224 00:14:36,320 --> 00:14:38,690 Suze: and everything really did collapse. 225 00:14:39,239 --> 00:14:44,630 Suze: So I think the unthinkable, so I wouldn't be adding 226 00:14:44,640 --> 00:14:47,799 Suze: to that situation. I would just stick with what I 227 00:14:47,809 --> 00:14:50,690 Suze: have because there was really nothing else to do with it, 228 00:14:50,700 --> 00:14:53,770 Suze: but I wouldn't be putting more money towards it. Also. 229 00:14:53,780 --> 00:14:56,929 Suze: I just want to say this, the reason that you 230 00:14:56,940 --> 00:15:01,229 Suze: keep hearing me talk about the 18 month CD at 231 00:15:01,239 --> 00:15:07,070 Suze: Alliant Credit Union at 5.15% is because once you want 232 00:15:07,080 --> 00:15:08,150 Suze: to lock in 233 00:15:08,510 --> 00:15:13,659 Suze: or have the ability to lock in at least 5.15% 234 00:15:13,669 --> 00:15:17,059 Suze: for 18 to 23 months. And I'll explain that this 235 00:15:17,070 --> 00:15:20,239 Suze: coming Sunday to you because you need to understand how 236 00:15:20,250 --> 00:15:26,359 Suze: this CD really works. Versus locking in 6.5 or 7% 237 00:15:26,369 --> 00:15:30,080 Suze: maybe for the one month interest rates then start to 238 00:15:30,090 --> 00:15:32,510 Suze: go down because I don't know how long they're gonna 239 00:15:32,520 --> 00:15:34,950 Suze: keep the 5.15% at all. 240 00:15:35,880 --> 00:15:39,520 Suze: So I'm taking advantage of something that is long term 241 00:15:39,609 --> 00:15:41,900 Suze: and is the highest interest rate in a CD for 242 00:15:41,909 --> 00:15:45,280 Suze: that term right now that you can find. That's the 243 00:15:45,289 --> 00:15:46,630 Suze: reason why. 244 00:15:46,900 --> 00:15:49,760 KT: Ok, Suze question is a good story... 245 00:15:49,950 --> 00:15:53,340 Suze: But KT, don't you want to tell everybody how they can 246 00:15:53,349 --> 00:15:56,599 Suze: write in and ask a question so that if you 247 00:15:56,609 --> 00:16:00,539 Suze: choose it, it'll be on the podcast. Tell them, KT, 248 00:16:00,549 --> 00:16:00,929 Suze: how do they do it? 249 00:16:01,210 --> 00:16:03,840 KT: You can do it two ways. Actually, you can go 250 00:16:03,849 --> 00:16:05,450 KT: to Suze's app 251 00:16:06,099 --> 00:16:08,140 KT: and you can go to the wall and you can 252 00:16:08,150 --> 00:16:09,750 KT: post a question there. 253 00:16:10,099 --> 00:16:11,909 Suze: Yeah, that's right. No. Go on. 254 00:16:12,260 --> 00:16:14,630 KT: Or you can go to 255 00:16:14,940 --> 00:16:16,859 KT: Women and Money Podcast... 256 00:16:17,119 --> 00:16:21,710 Suze: I knew it. I knew it. Everybody you would go 257 00:16:21,719 --> 00:16:23,719 Suze: to ask Suze podcast... 258 00:16:24,159 --> 00:16:28,789 KT: Oh right, I forgot that. Ask Susie Podcast... 259 00:16:28,909 --> 00:16:32,099 Suze: Are you kidding me after all these years? Are you 260 00:16:32,109 --> 00:16:35,609 Suze: telling me You have just now realized that's what the 261 00:16:36,169 --> 00:16:36,559 Suze: email... come on... 262 00:16:37,099 --> 00:16:42,409 KT: Women and Money podcast Ask Susie, ok. Ask Susie Podcast. 263 00:16:43,169 --> 00:16:47,289 KT: You better tell them, don't listen to me. Anybody don't listen. 264 00:16:48,159 --> 00:16:49,989 KT: Tell them one time. 265 00:16:50,599 --> 00:16:56,770 Suze: Ask Suze S U Z E podcast at gmail dot com. 266 00:16:56,820 --> 00:17:00,150 Suze: Send it in there or you can go to the 267 00:17:00,159 --> 00:17:03,510 Suze: Women and Money app and there is a place there 268 00:17:03,520 --> 00:17:05,909 Suze: to send in a question. And also if you happen 269 00:17:05,920 --> 00:17:08,939 Suze: to ask a question on the wall in the women 270 00:17:08,949 --> 00:17:12,698 Suze: and Money App, KT tends to scroll through those and 271 00:17:12,709 --> 00:17:15,839 Suze: maybe she'll take it from there and we will answer 272 00:17:15,849 --> 00:17:16,390 Suze: it as well. 273 00:17:17,550 --> 00:17:19,229 KT: Next question is from Kim. 274 00:17:19,619 --> 00:17:26,219 KT: Hi, Suze. I am 53 years old and engaged. My fiance was 275 00:17:26,229 --> 00:17:31,099 KT: burned financially by an ex-wife and is asking me for 276 00:17:31,109 --> 00:17:34,680 KT: a prenup. His main concern is that he doesn't want 277 00:17:34,689 --> 00:17:38,589 KT: to pay me alimony ever if we were to get 278 00:17:38,599 --> 00:17:39,530 KT: a divorce. 279 00:17:39,979 --> 00:17:43,829 KT: Well, that's romantic. Right, Suze. He makes almost three times 280 00:17:43,839 --> 00:17:44,750 KT: as much as me. 281 00:17:44,760 --> 00:17:45,560 Suze: Are you kidding me? 282 00:17:45,569 --> 00:17:49,619 KT: He is, his big concern with. This is honest. He's 283 00:17:49,630 --> 00:17:52,938 KT: a big concern with putting two kids through college and 284 00:17:53,079 --> 00:17:57,510 KT: also saving for retirement. And then Kim goes on to 285 00:17:57,520 --> 00:17:59,469 KT: say my kids are grown and married. 286 00:18:00,010 --> 00:18:03,819 KT: He wants a joint account when we're married. I asked 287 00:18:03,829 --> 00:18:07,439 KT: for separate accounts for both of us. He, he agreed. 288 00:18:07,449 --> 00:18:11,670 KT: He said, ok, we would both put 10 to 15% 289 00:18:11,680 --> 00:18:14,910 KT: in based on our income and that would be our 290 00:18:14,920 --> 00:18:19,938 KT: personal account. But Suze this whole prenup and no alimony 291 00:18:19,949 --> 00:18:23,930 KT: is getting to me. I just don't know. So can 292 00:18:23,939 --> 00:18:29,339 KT: I just say something, Kim has doubt, what should she do? 293 00:18:30,939 --> 00:18:32,729 KT: Tell everyone your first thought? 294 00:18:32,739 --> 00:18:34,849 Suze: Tell everybody what my face looks like right now. 295 00:18:35,380 --> 00:18:39,469 KT: I know what her face looks like. Don't marry him. 296 00:18:39,479 --> 00:18:41,069 KT: Don't get married. Kim. 297 00:18:41,140 --> 00:18:45,790 Suze: Kim. Here's the problem. I get that he was burned 298 00:18:46,000 --> 00:18:48,630 Suze: financially by an ex-wife. 299 00:18:49,660 --> 00:18:55,859 Suze: Kim, I was burned by an ex as well girlfriend. Right. 300 00:18:55,869 --> 00:18:59,709 Suze: She wasn't even my wife, spouse. Right. And I got 301 00:18:59,719 --> 00:19:04,560 Suze: burned by her big time. Right. However, that did not 302 00:19:04,569 --> 00:19:08,900 Suze: affect how I felt when I met KT. 303 00:19:09,959 --> 00:19:15,170 Suze: When I met KT I wanted to make sure that absolutely, 304 00:19:15,180 --> 00:19:20,389 Suze: she was 100% protected and I still feel that same 305 00:19:20,400 --> 00:19:22,729 Suze: way to this day. 306 00:19:23,359 --> 00:19:30,170 Suze: So I just always get like does past experience mean 307 00:19:30,180 --> 00:19:33,790 Suze: that the future that I want to create with somebody 308 00:19:33,989 --> 00:19:38,629 Suze: is somehow tied to the past if that just made 309 00:19:38,640 --> 00:19:42,030 Suze: any sense. So here's a few things that you need 310 00:19:42,040 --> 00:19:45,650 Suze: to know. Number one, you could do a prenup 311 00:19:46,030 --> 00:19:49,119 Suze: where he puts in that he doesn't want to pay 312 00:19:49,130 --> 00:19:52,839 Suze: you alimony. But what you need to know is that 313 00:19:52,849 --> 00:19:59,839 Suze: if these documents are not drawn up incredibly accurately with 314 00:19:59,849 --> 00:20:02,439 Suze: a family law attorney, 315 00:20:03,079 --> 00:20:06,169 Suze: then it is possible or probable that if you ever 316 00:20:06,180 --> 00:20:11,339 Suze: did get divorced and it went to a judge depending 317 00:20:11,349 --> 00:20:14,430 Suze: on the jurisdiction where you're doing this and everything. It 318 00:20:14,439 --> 00:20:18,119 Suze: is very possible that the judge would just throw it out. 319 00:20:18,609 --> 00:20:22,169 Suze: It would depend on your financial situation at the time, 320 00:20:22,180 --> 00:20:25,270 Suze: what's going on in your life at the time. So 321 00:20:25,280 --> 00:20:30,629 Suze: it may be that it won't even stand up in court. However, 322 00:20:31,270 --> 00:20:35,319 Suze: if this whole prenup and no alimony is getting to 323 00:20:35,329 --> 00:20:39,219 Suze: me that is a quote from you. You said, I 324 00:20:39,229 --> 00:20:43,900 Suze: just don't know what is one of the major laws 325 00:20:43,910 --> 00:20:44,800 Suze: of money. 326 00:20:46,040 --> 00:20:50,250 Suze: It is better to do nothing than something you do 327 00:20:50,260 --> 00:20:55,069 Suze: not understand and not knowing something is something that you 328 00:20:55,079 --> 00:20:59,660 Suze: don't understand and it just doesn't feel right for you. 329 00:21:00,010 --> 00:21:02,770 Suze: So, the truth of the matter is why even bother 330 00:21:02,780 --> 00:21:07,260 Suze: getting married truthfully just live together. Have a great life. 331 00:21:07,270 --> 00:21:10,199 Suze: You keep all your money separate, let him keep all 332 00:21:10,209 --> 00:21:13,819 Suze: his money separate. However, if you're together and he's making 333 00:21:13,829 --> 00:21:16,680 Suze: three times the amount of money as you, he should 334 00:21:16,689 --> 00:21:19,560 Suze: be paying for everything every time you go out, every 335 00:21:19,569 --> 00:21:23,000 Suze: time you do everything, let him pay for it, he 336 00:21:23,010 --> 00:21:24,119 Suze: can afford it. 337 00:21:24,449 --> 00:21:28,020 Suze: But there's something about this that I just don't like. 338 00:21:28,030 --> 00:21:33,140 Suze: Now I understand it from his point of view. But again, 339 00:21:33,150 --> 00:21:35,369 Suze: I'm just gonna say I have a hard time when 340 00:21:35,380 --> 00:21:40,219 Suze: the past is affecting the future that he wants to create. 341 00:21:40,260 --> 00:21:43,239 Suze: I want you to be with somebody who cares enough 342 00:21:43,250 --> 00:21:46,459 Suze: about you that if you need something after you've gotten 343 00:21:46,469 --> 00:21:49,060 Suze: divorced that it will be there for you. 344 00:21:49,449 --> 00:21:52,419 Suze: That when he is in a state of love, he 345 00:21:52,430 --> 00:21:55,380 Suze: wants to take care of you. He's already saying you 346 00:21:55,390 --> 00:21:59,489 Suze: can't have this or that. If in fact, we get divorced, 347 00:21:59,619 --> 00:22:03,420 Suze: I don't like it. And you know what? Neither do you? 348 00:22:04,290 --> 00:22:08,790 Suze: All right, KT, you know what she could do right. Here's 349 00:22:08,800 --> 00:22:13,409 Suze: a little secret. Want to know a secret? Right. So, for the prenup, in 350 00:22:13,420 --> 00:22:16,219 Suze: most cases, to be absolutely legal, 351 00:22:16,910 --> 00:22:20,399 Suze: she has to have her own attorney. He has to 352 00:22:20,410 --> 00:22:25,379 Suze: have his own attorney. If she just signed whatever it 353 00:22:25,390 --> 00:22:29,180 Suze: was that was created by his attorney, she didn't really 354 00:22:29,189 --> 00:22:32,329 Suze: read it, she just signed it. She didn't even look 355 00:22:32,339 --> 00:22:32,900 Suze: at it. 356 00:22:33,540 --> 00:22:36,890 Suze: Chances are, it won't hold up just so, you know, 357 00:22:37,160 --> 00:22:39,989 Suze: and usually a prenup has to be changed by each 358 00:22:40,000 --> 00:22:44,239 Suze: party because the judge most likely will ask. Well, did 359 00:22:44,250 --> 00:22:46,630 Suze: you look at this, did you know what you were signing? 360 00:22:46,640 --> 00:22:48,630 Suze: Did you do it on the way to the altar? 361 00:22:48,640 --> 00:22:53,569 Suze: Were you under pressure to do? So all those questions 362 00:22:53,579 --> 00:22:57,869 Suze: will be asked and so there's always a way, but 363 00:22:57,880 --> 00:22:58,449 Suze: then 364 00:22:58,859 --> 00:23:01,829 Suze: it's not a very nice thing to be living with. Right? 365 00:23:01,839 --> 00:23:05,530 KT: Do you like prenups? You're a believer in totally Suze 366 00:23:05,540 --> 00:23:06,359 KT: really likes... 367 00:23:06,699 --> 00:23:09,489 Suze: I like prenups because you should plan for the what ifs 368 00:23:09,500 --> 00:23:12,380 Suze: like I said, when you're in a state of love, 369 00:23:12,390 --> 00:23:15,469 Suze: not when you are in a state of hate and 370 00:23:15,479 --> 00:23:20,109 Suze: given that one out of two marriages end up in divorce. 371 00:23:20,119 --> 00:23:24,290 Suze: The number one reason for divorce is arguments over money. 372 00:23:24,530 --> 00:23:29,399 Suze: You decide why you absolutely love one another. KT knows 373 00:23:29,410 --> 00:23:35,650 Suze: exactly what KT will get if I was ever stupid enough. Right? 374 00:23:35,660 --> 00:23:38,420 Suze: She knows which house is hers, the things that are 375 00:23:38,430 --> 00:23:42,430 Suze: in her individual name, she knows her income continues because 376 00:23:42,439 --> 00:23:46,379 Suze: the contracts that we have with everybody, they pay her directly. 377 00:23:46,390 --> 00:23:49,000 Suze: It doesn't have to go through me. So I have 378 00:23:49,010 --> 00:23:53,119 Suze: so taken care of her. Now, why did I do that? 379 00:23:53,500 --> 00:23:54,630 Suze: Because she loves me! 380 00:23:54,800 --> 00:23:56,069 Suze: I love her so much. 381 00:23:56,300 --> 00:23:57,329 KT: Suze gets the boat. 382 00:23:59,449 --> 00:24:03,040 Suze: That's about it. Everybody, she gets the island, she gets 383 00:24:03,050 --> 00:24:07,550 Suze: everything on this island and you have no idea how 384 00:24:07,560 --> 00:24:11,430 Suze: valuable that is. But if she wants it, she can 385 00:24:11,439 --> 00:24:14,369 Suze: have it. So she didn't even ask for it. 386 00:24:14,819 --> 00:24:15,560 Suze: No, I didn't. 387 00:24:15,569 --> 00:24:20,280 Suze: Right. But I want her to be fine no matter what. 388 00:24:20,339 --> 00:24:22,899 KT: Where's my quizzie? Do I have a quizzie? 389 00:24:23,410 --> 00:24:26,160 Suze: I have had a quizzie for you. I had a 390 00:24:26,170 --> 00:24:27,020 Suze: little bit longer... 391 00:24:28,069 --> 00:24:32,189 KT: So, Suze wanted to eliminate quizzies everybody. But I said, no, don't 392 00:24:32,199 --> 00:24:35,010 KT: do it. They love it. Right. Do you, do you 393 00:24:35,020 --> 00:24:36,199 KT: all like the quizzies? 394 00:24:36,209 --> 00:24:39,119 Suze: Yes. They like them, but you weren't liking them, were you? 395 00:24:39,170 --> 00:24:41,729 KT: No, I'd never get them. Right. But sometimes they get 396 00:24:41,739 --> 00:24:43,790 KT: it right. Let's see if I can get this one. Right. 397 00:24:44,130 --> 00:24:45,958 KT: All right. But I like the game. 398 00:24:46,229 --> 00:24:46,959 Suze: You like the game? 399 00:24:47,060 --> 00:24:49,438 KT: Yea, I do. I like trying to get it right. 400 00:24:50,079 --> 00:24:56,719 Suze: All right then. This one is from Sandra. Good afternoon, Suze. I 401 00:24:56,729 --> 00:24:57,939 Suze: have a question. 402 00:24:58,270 --> 00:25:02,530 Suze: Is it a good time to apply for a home 403 00:25:02,540 --> 00:25:07,879 Suze: equity loan? I want to pay for my daughter's education 404 00:25:07,890 --> 00:25:11,510 Suze: with this loan. The equity loan will be for my 405 00:25:11,520 --> 00:25:16,139 Suze: second home in Florida, which is already paid for. Thank 406 00:25:16,150 --> 00:25:20,270 Suze: you so much. So to make that clear, Sandra is 407 00:25:20,280 --> 00:25:24,869 Suze: simply asking, right, she wants to pay for her daughter's 408 00:25:24,880 --> 00:25:26,260 Suze: college education, 409 00:25:26,949 --> 00:25:29,459 Suze: right? Everybody think about this because you need to know 410 00:25:29,469 --> 00:25:32,189 Suze: how to answer this question. That's why this is a 411 00:25:32,199 --> 00:25:35,920 Suze: quizzie for all of you. Sandra wants to pay for 412 00:25:35,930 --> 00:25:38,439 Suze: her daughter's college education. 413 00:25:38,869 --> 00:25:41,719 Suze: And the way that she wants to pay for it 414 00:25:41,849 --> 00:25:45,819 Suze: is by taking out either an equity loan or a 415 00:25:45,829 --> 00:25:50,199 Suze: home equity line of credit. Either one doesn't matter on 416 00:25:50,209 --> 00:25:54,780 Suze: her second home that she owns in Florida that is 417 00:25:54,790 --> 00:25:59,619 Suze: currently paid for. So, rather than taking out student loans 418 00:25:59,630 --> 00:26:02,780 Suze: or other things like that, she wants to take out 419 00:26:02,790 --> 00:26:06,400 Suze: the equity in her second home, 420 00:26:06,739 --> 00:26:09,280 Suze: should she or shouldn't she? 421 00:26:09,689 --> 00:26:10,449 KT: I don't think she should. 422 00:26:11,510 --> 00:26:12,650 Suze: And why is that? 423 00:26:12,660 --> 00:26:17,089 KT: Because I think there's probably better ways to get the 424 00:26:17,099 --> 00:26:20,280 KT: money to pay for the daughter's college. And why wouldn't 425 00:26:20,290 --> 00:26:20,869 KT: she 426 00:26:21,290 --> 00:26:25,219 KT: consider doing some kind of a student loan with her daughter? 427 00:26:25,229 --> 00:26:30,040 Suze: Because student loans aren't dischargeable in bankruptcy. Maybe she's a 428 00:26:30,050 --> 00:26:33,489 Suze: mother that just is so protective of her daughter. She 429 00:26:33,500 --> 00:26:37,438 Suze: just doesn't want her daughter to have to worry about anything. 430 00:26:37,949 --> 00:26:41,199 Suze: It's a second home. She feels like, ok, it's already 431 00:26:41,209 --> 00:26:44,739 Suze: paid for, I'll just take out 100 200,000, whatever it 432 00:26:44,750 --> 00:26:48,439 Suze: is from there and pay it off monthly. What's that 433 00:26:48,449 --> 00:26:49,218 Suze: look for? 434 00:26:50,770 --> 00:26:53,479 KT: Is that like the best way to get the money... 435 00:26:53,660 --> 00:26:56,659 Suze: The question is, should she or should she? 436 00:26:56,750 --> 00:26:58,899 KT: No, I don't like that idea. 437 00:26:59,020 --> 00:27:00,680 Suze: Right. But you have to know why. My love. 438 00:27:01,219 --> 00:27:04,050 KT: Ok. I don't really know why, but it seems like 439 00:27:04,060 --> 00:27:07,689 KT: if you have a house that's paid for and you 440 00:27:07,699 --> 00:27:10,979 KT: don't have to, you know, owe any more mortgage or 441 00:27:10,989 --> 00:27:14,300 KT: money on the home. Why would you start there? I 442 00:27:14,310 --> 00:27:16,560 KT: just go get a bank loan or something. 443 00:27:17,130 --> 00:27:19,060 Suze: But you definitely won't do it that way. 444 00:27:19,369 --> 00:27:21,170 KT: No, no, I don't think I would do it that 445 00:27:21,180 --> 00:27:23,459 KT: way at all, I would think. Or, you know? No, I, 446 00:27:23,469 --> 00:27:28,879 KT: I wouldn't do it. Why would you do that. 447 00:27:32,270 --> 00:27:36,060 Suze: Ding Ding Ding Ding! She loves the quizzies again. Everybody listen to me, my 448 00:27:36,069 --> 00:27:37,219 Suze: dear Sandra. 449 00:27:38,150 --> 00:27:43,390 Suze: Right now, home equity lines of credit or home equity 450 00:27:43,400 --> 00:27:48,459 Suze: loans are sky high in interest rates. Ok? 451 00:27:49,319 --> 00:27:52,770 Suze: And if it's a home equity line of credit, for instance, 452 00:27:52,780 --> 00:27:56,349 Suze: and now you've taken it out and interest rates continue 453 00:27:56,359 --> 00:27:59,900 Suze: to go up, then your interest rate will go up 454 00:27:59,910 --> 00:28:03,579 Suze: as well. But even a home equity loan is going 455 00:28:03,589 --> 00:28:08,310 Suze: to be at 6.5, 7, 7.5% or more, maybe even 456 00:28:08,319 --> 00:28:13,399 Suze: higher because it is your second home. That is number one. 457 00:28:13,709 --> 00:28:16,169 Suze: You are in Florida. 458 00:28:17,000 --> 00:28:22,949 Suze: Florida. And that is where KT and I primarily live. 459 00:28:23,010 --> 00:28:28,449 Suze: The home of Hurricane- Ville. And all of a sudden 460 00:28:28,459 --> 00:28:30,229 Suze: you have this home 461 00:28:30,849 --> 00:28:35,290 Suze: that now is absolutely destroyed by a hurricane. It is 462 00:28:35,300 --> 00:28:40,119 Suze: no longer there, but yet you still owe that money 463 00:28:40,130 --> 00:28:43,979 Suze: to the bank, even though that home has gone away, 464 00:28:43,989 --> 00:28:49,900 Suze: does your insurance cover it? You better check that out. Also. 465 00:28:50,390 --> 00:28:55,390 Suze: Something happens to you and obviously you don't have enough 466 00:28:55,400 --> 00:28:56,699 Suze: liquid cash 467 00:28:57,189 --> 00:29:01,209 Suze: to just pay for your daughter's college education because otherwise 468 00:29:01,219 --> 00:29:04,839 Suze: you would be doing that right now versus taking out 469 00:29:04,849 --> 00:29:09,969 Suze: an equity loan on a home that's already paid for. Now, 470 00:29:09,979 --> 00:29:13,310 Suze: something happens to you. Who knows what that is? You 471 00:29:13,319 --> 00:29:16,170 Suze: get injured, you get sick. I don't know how old 472 00:29:16,180 --> 00:29:18,329 Suze: you are, but you're not that old if your daughter is 473 00:29:18,339 --> 00:29:20,089 Suze: now just going to college 474 00:29:20,630 --> 00:29:26,780 Suze: and now you can't afford to pay back the equity loan. 475 00:29:26,790 --> 00:29:30,390 Suze: That is now a secured loan. You could end up 476 00:29:30,400 --> 00:29:35,699 Suze: losing that house. Would you be better off taking out 477 00:29:35,709 --> 00:29:40,630 Suze: a parent plus loan to pay for your daughter's college education? Yeah, 478 00:29:40,640 --> 00:29:43,619 Suze: you would then a equity loan. However, 479 00:29:44,439 --> 00:29:51,050 Suze: why are you paying for your daughter's college education when 480 00:29:51,060 --> 00:29:55,939 Suze: you obviously don't have the money to do? So what 481 00:29:56,000 --> 00:30:01,290 Suze: is the lesson that you are passing down to your daughter? 482 00:30:01,739 --> 00:30:04,770 Suze: First of all, your daughter should be going to a 483 00:30:04,780 --> 00:30:07,530 Suze: college that she can afford. 484 00:30:07,920 --> 00:30:12,319 Suze: Number one. Number two, your daughter should be applying for 485 00:30:12,329 --> 00:30:16,329 Suze: her own loans and see how much she can get 486 00:30:16,339 --> 00:30:20,290 Suze: on that. And if there isn't enough to cover it, 487 00:30:20,300 --> 00:30:24,660 Suze: then maybe you can step in. However, maybe if there's 488 00:30:24,670 --> 00:30:25,849 Suze: not enough money, 489 00:30:26,160 --> 00:30:31,290 Suze: your daughter should consider a community college. No, on every 490 00:30:31,300 --> 00:30:35,520 Suze: single level, you should not be doing what you are 491 00:30:35,530 --> 00:30:38,489 Suze: thinking about doing. And if you really want to give 492 00:30:38,500 --> 00:30:43,750 Suze: your daughter an education that will make her a seriously 493 00:30:43,760 --> 00:30:46,410 Suze: successful woman in life, 494 00:30:46,880 --> 00:30:50,469 Suze: teach her how to do things her own and gifts 495 00:30:50,479 --> 00:30:53,329 Suze: like that should just not come her way when it 496 00:30:53,339 --> 00:30:57,369 Suze: could cause hardship on her mother. 497 00:30:58,130 --> 00:30:58,880 Suze: Ok. KT. 498 00:30:59,260 --> 00:31:02,339 KT: I was waiting for that. Suzie is a big believer 499 00:31:02,349 --> 00:31:06,530 KT: in financing college by the student. That's a big lesson 500 00:31:06,540 --> 00:31:10,040 KT: in finances. You know, it just, it helps them really 501 00:31:10,050 --> 00:31:11,079 KT: learn quick 502 00:31:11,089 --> 00:31:15,099 Suze: And understand the value of money and not live in 503 00:31:15,109 --> 00:31:20,420 Suze: this world of where... now the daughter grows up has 504 00:31:20,430 --> 00:31:24,540 Suze: a child. Now, the daughter isn't in a very good 505 00:31:24,550 --> 00:31:26,119 Suze: financial situation 506 00:31:26,310 --> 00:31:30,290 Suze: and now we have a guilt syndrome coming up. Well, 507 00:31:30,300 --> 00:31:33,699 Suze: my mother put me through college, I need to put 508 00:31:33,709 --> 00:31:37,449 Suze: my child through college at all expense. And no, that's 509 00:31:37,459 --> 00:31:38,119 Suze: not true. 510 00:31:38,579 --> 00:31:41,040 Suze: I don't know of one loan that will help you 511 00:31:41,050 --> 00:31:44,609 Suze: through retirement. There are plenty of ways to go to 512 00:31:44,619 --> 00:31:48,329 Suze: college and have the student get a loan and, or 513 00:31:48,339 --> 00:31:54,430 Suze: a community college. All right KT, Sunday. 514 00:31:55,699 --> 00:31:58,069 Suze: One day before my birthday. 515 00:31:58,130 --> 00:31:59,410 KT: What do you got going on? 516 00:31:59,520 --> 00:32:02,430 Suze: So I want to explain to everybody 517 00:32:02,790 --> 00:32:07,459 Suze: if they should cash in their Series I bonds early 518 00:32:07,469 --> 00:32:10,280 Suze: because now this is all going around. I have an 519 00:32:10,290 --> 00:32:13,040 Suze: I bond from 2001, 2002, whatever it may be. And 520 00:32:13,050 --> 00:32:16,420 Suze: people are saying, should I cash them in Suze? And 521 00:32:16,430 --> 00:32:18,920 Suze: I also really want to explain 522 00:32:19,699 --> 00:32:23,449 Suze: how all the CDs work at Alliant Credit Union because 523 00:32:23,459 --> 00:32:26,939 Suze: I think if you understood it, you would be and 524 00:32:26,949 --> 00:32:30,689 Suze: you will be blown away because I didn't understand it 525 00:32:30,699 --> 00:32:33,089 Suze: to tell you the truth. And I said, wait, are 526 00:32:33,099 --> 00:32:36,290 Suze: you telling me that you could do this, this, this, 527 00:32:36,300 --> 00:32:37,290 Suze: this and that 528 00:32:37,930 --> 00:32:41,199 Suze: and Dennis Devine, the CEO went, yeah, I said, wait, 529 00:32:41,209 --> 00:32:42,920 Suze: are you telling me I... 530 00:32:42,930 --> 00:32:47,000 KT: She asked Dennis like three times. Are you sure you can 531 00:32:47,010 --> 00:32:49,160 KT: do that? Because this is a great deal. I bought 532 00:32:49,170 --> 00:32:49,760 KT: another one, Suze. 533 00:32:49,770 --> 00:32:50,170 Suze: Ok KT, but... 534 00:32:52,619 --> 00:32:58,060 Suze: this is what we're gonna do on Sunday. OK, So 535 00:32:58,729 --> 00:33:04,390 Suze: until Sunday, the day before my birthday, you have any 536 00:33:04,400 --> 00:33:05,420 Suze: surprises for me? 537 00:33:06,209 --> 00:33:10,760 KT: I do a little one. No, it's something I made. 538 00:33:10,770 --> 00:33:14,459 KT: All right. So you have to wait. But I do 539 00:33:14,469 --> 00:33:19,150 KT: want to say to you, Suze that today wherever I go, 540 00:33:19,160 --> 00:33:20,329 KT: I will create 541 00:33:20,920 --> 00:33:27,869 KT: a more peaceful, joyful and loving world with you. 542 00:33:28,859 --> 00:33:33,219 Suze: All right, everybody. If you do that, I promise you. 543 00:33:33,229 --> 00:33:38,569 Suze: If you say it as well, you will be unstoppable. 544 00:33:43,599 --> 00:33:44,599 Music: Music (out).