1 00:00:28,160 --> 00:00:34,480 Suze: February 26 2023. Whose voice is that? 2 00:00:34,940 --> 00:00:35,180 KT: That's KT! 3 00:00:35,180 --> 00:00:36,100 Suze: What are you doing here? 4 00:00:36,210 --> 00:00:39,940 KT: I was invited to Suze School because today is a great day 5 00:00:39,950 --> 00:00:43,490 KT: and we've been waiting and it's finally here and Suze 6 00:00:43,490 --> 00:00:46,930 KT: said KT, you're gonna help me make this great announcement. 7 00:00:46,940 --> 00:00:50,279 Suze: Because you know when you do something that's really special, 8 00:00:50,590 --> 00:00:52,940 Suze: I always want KT to be part of. You want 9 00:00:52,940 --> 00:00:55,770 Suze: to share it. We want to share the joy the joy. 10 00:00:55,770 --> 00:00:58,520 Suze: But you will leave when I give the Suze School 11 00:00:58,520 --> 00:01:01,380 Suze: part of this presentation, will you or not? 12 00:01:01,390 --> 00:01:05,300 KT: Do you want me to or not? Do you all want me to stay? 13 00:01:05,310 --> 00:01:07,709 Suze: They all love when you stay. 14 00:01:07,709 --> 00:01:11,450 KT: You want me to stick around everybody. Okay first let's 15 00:01:11,450 --> 00:01:12,839 KT: tell them the great news. 16 00:01:12,850 --> 00:01:17,830 Suze: All right, so today, finally on February 26th, 17 00:01:17,970 --> 00:01:22,959 Suze: you will be able to purchase three month and six 18 00:01:22,970 --> 00:01:30,100 Suze: month certificates of deposit at Alliant credit union by simply 19 00:01:30,100 --> 00:01:34,070 Suze: doing what? Going to take out your little Suze notebooks. 20 00:01:34,080 --> 00:01:39,070 Suze: You are to write this down. You are to go 21 00:01:39,069 --> 00:01:44,160 Suze: to My Alliant A. L. L. I A N. T 22 00:01:44,170 --> 00:01:47,870 Suze: dot com slash ultimate 23 00:01:48,250 --> 00:01:54,330 Suze: U. L. T. I. M A. T. E. That is 24 00:01:54,340 --> 00:01:56,280 Suze: where you need to go 25 00:01:56,640 --> 00:02:01,330 Suze: to be able to open up a certificate of deposit 26 00:02:01,340 --> 00:02:05,620 Suze: of three months or six months and why would you 27 00:02:05,620 --> 00:02:09,420 Suze: wanna be able to do that at Alliant Credit Union? 28 00:02:10,090 --> 00:02:16,850 Suze: So write this down for a three month certificate of deposit, 29 00:02:16,860 --> 00:02:24,350 Suze: it will be an annual percentage yield, an APY of 4.85% 30 00:02:24,930 --> 00:02:30,040 Suze: For a six month certificate of deposit. Are you ready 31 00:02:30,040 --> 00:02:32,430 Suze: for this one? It will be an APY of what, KT? 32 00:02:34,840 --> 00:02:36,440 KT: 5%. 33 00:02:41,730 --> 00:02:45,560 Suze: So if you if you want 5% on your money, especially for those of you who are 34 00:02:45,570 --> 00:02:49,840 Suze: already members of Alliant Credit Union, you have a significant 35 00:02:49,840 --> 00:02:53,670 Suze: amount of money. Many of you do, in the Ultimate 36 00:02:53,669 --> 00:02:59,970 Suze: Opportunity savings account currently making 2.95% now you can take 37 00:02:59,970 --> 00:03:01,500 Suze: some of that money 38 00:03:01,930 --> 00:03:06,130 Suze: and switch it to a three or six month certificate. 39 00:03:06,139 --> 00:03:15,240 Suze: A deposit for 4.85% for the three month 5% for the 40 00:03:15,240 --> 00:03:16,570 Suze: six months. 41 00:03:16,580 --> 00:03:20,130 KT: Six months goes by really quick Suze. I'm opening one tomorrow. 42 00:03:20,139 --> 00:03:20,299 Suze: Oh you are.  Why are you waiting until Monday? 43 00:03:22,050 --> 00:03:23,890 KT: Because I have to do it Monday. 44 00:03:23,900 --> 00:03:24,669 Suze: Why is that? 45 00:03:25,240 --> 00:03:26,510 KT: Well Monday... 46 00:03:26,620 --> 00:03:29,209 Suze: What are you talking about? Monday you can go online 47 00:03:29,210 --> 00:03:31,900 Suze: and do it right now. KT, you do not have 48 00:03:31,900 --> 00:03:32,960 Suze: to wait at all.  Oh she's looking at me. 49 00:03:35,430 --> 00:03:40,200 KT: I have to tell everyone a secret. I'm really lazy 50 00:03:40,200 --> 00:03:42,420 KT: so I have our office do it for me. 51 00:03:43,850 --> 00:03:45,280 Suze: You're kidding. 52 00:03:45,290 --> 00:03:48,380 KT: No, Barbara does it for me. I just tell her what 53 00:03:48,380 --> 00:03:49,090 KT: to do. 54 00:03:50,590 --> 00:03:53,790 KT: She's... Everone, Suze's mad at me. So let me ask you a couple questions about these certificates. 55 00:03:59,590 --> 00:04:01,190 Suze: So you know what to tell Barbara? 56 00:04:01,200 --> 00:04:02,920 KT: Yeah I'm going to tell her to open a six 57 00:04:02,920 --> 00:04:06,980 KT: month because it's 5% and six months will fly by... 58 00:04:06,990 --> 00:04:10,360 KT: fly by. So I want to start with maybe just 59 00:04:10,360 --> 00:04:12,530 KT: putting a couple $1000 in. But 60 00:04:12,720 --> 00:04:16,600 KT: can I put like any amount or is it in increments? 61 00:04:16,600 --> 00:04:20,310 KT: Like is it like other certificates? How do I, can 62 00:04:20,310 --> 00:04:22,600 KT: I just tell her put a couple $1000 in? 63 00:04:22,610 --> 00:04:26,839 Suze: Why would you only put knowing who you are... Why 64 00:04:26,839 --> 00:04:29,640 Suze: would you only put a couple $1000 in? But let 65 00:04:29,640 --> 00:04:33,660 Suze: me answer the question for you, KT. The minimum amount 66 00:04:33,805 --> 00:04:39,185 Suze: everybody that you can put in is $1000. But after 67 00:04:39,185 --> 00:04:42,475 Suze: that you can put any amount of money you want in. 68 00:04:42,485 --> 00:04:47,985 Suze: You could put $1535 in $3050. It doesn't have to 69 00:04:47,985 --> 00:04:55,445 Suze: be in $1000 increments. That's number one. Number two, KT, for 70 00:04:55,445 --> 00:05:00,895 Suze: somebody seriously like us. Okay. Especially because we live in Florida, 71 00:05:01,100 --> 00:05:05,680 Suze: which is a tax free state, on the state level. 72 00:05:05,690 --> 00:05:10,810 Suze: So therefore why would you only put in? Seriously, KT 73 00:05:10,810 --> 00:05:14,290 Suze: tell Barbara to only put in two or $3000. Why 74 00:05:14,290 --> 00:05:15,320 Suze: wouldn't you put in... 75 00:05:15,450 --> 00:05:16,339 KT: Like 10,000? 76 00:05:16,339 --> 00:05:20,710 Suze: Why wouldn't you put in 100,000? Why wouldn't you do that? 77 00:05:20,730 --> 00:05:22,050 KT: I guess I should. 78 00:05:23,640 --> 00:05:29,320 Suze: Not only should you but since you can I would put up to $250,000 79 00:05:29,320 --> 00:05:31,690 Suze: in this. If I were you because it's insured. Yeah 80 00:05:31,690 --> 00:05:35,370 Suze: by N. C. U. A. So I would absolutely be 81 00:05:35,370 --> 00:05:36,290 Suze: doing that. 82 00:05:36,290 --> 00:05:38,479 KT: So wait. So if I put in let's say I 83 00:05:38,480 --> 00:05:41,429 KT: put in 100,000 that's a lot of money. 84 00:05:41,680 --> 00:05:44,680 KT: What happens after that six months? Do I have to 85 00:05:44,680 --> 00:05:48,570 KT: do anything or does it roll over? Like how do 86 00:05:48,570 --> 00:05:50,000 KT: I make a set and forget it? 87 00:05:50,000 --> 00:05:52,560 Suze: Here's what you need to understand and let me just 88 00:05:52,560 --> 00:05:53,860 Suze: recap for you 89 00:05:54,650 --> 00:05:58,830 Suze: Whether you're already a member or you want to become 90 00:05:58,839 --> 00:06:03,279 Suze: a member of Alliant Credit Union and you want to 91 00:06:03,290 --> 00:06:06,650 Suze: open up a three month or six month certificate of 92 00:06:06,650 --> 00:06:11,250 Suze: deposit to take advantage of these rates. You're looking for 93 00:06:11,250 --> 00:06:13,880 Suze: a certificate of deposit short term 94 00:06:14,339 --> 00:06:19,669 Suze: where you would go would be to My Alliant dot 95 00:06:19,680 --> 00:06:24,040 Suze: com slash Ultimate. That is where you need to go 96 00:06:24,040 --> 00:06:24,910 Suze: number one. 97 00:06:25,839 --> 00:06:30,300 Suze: Number two. When you get there. You will see that 98 00:06:30,300 --> 00:06:33,560 Suze: if you are already a member there will be a 99 00:06:33,560 --> 00:06:35,190 Suze: place for you to click. 100 00:06:35,510 --> 00:06:39,780 Suze: If you are already a member, like you are KT, 101 00:06:39,820 --> 00:06:43,880 Suze: then what will happen is that you will have a 102 00:06:43,880 --> 00:06:50,180 Suze: choice okay that when your certificate of deposit matures it 103 00:06:50,180 --> 00:06:54,260 Suze: can either automatically renew at maturity for let's say another 104 00:06:54,260 --> 00:06:57,780 Suze: six months or another three months, if you bought a 105 00:06:57,779 --> 00:06:58,789 Suze: three month certificate 106 00:06:58,810 --> 00:07:03,260 Suze: a deposit. Or you will also have a choice if 107 00:07:03,260 --> 00:07:07,540 Suze: you want to to transfer into any account that you're 108 00:07:07,540 --> 00:07:12,400 Suze: going to designate when you open the CD on the application. 109 00:07:12,410 --> 00:07:15,670 Suze: You're going to be able to designate if you do 110 00:07:15,670 --> 00:07:20,380 Suze: not renew what Alliant account you want this money to 111 00:07:20,380 --> 00:07:26,220 Suze: go back into. However for new members now listen closely. 112 00:07:26,480 --> 00:07:32,030 Suze: If you haven't already opened up an Ultimate Opportunity Savings 113 00:07:32,030 --> 00:07:35,910 Suze: Account or you're not a member with Alliant Credit Union, 114 00:07:36,400 --> 00:07:39,410 Suze: you will also go to 115 00:07:40,030 --> 00:07:44,750 Suze: My Alliant dot com slash Ultimate. You will automatically then 116 00:07:44,750 --> 00:07:48,010 Suze: become a member when you sign up to open up 117 00:07:48,020 --> 00:07:52,610 Suze: a certificate. But it will be a default for you 118 00:07:52,960 --> 00:07:59,320 Suze: that when your certificate of deposit matures it will automatically renew. 119 00:07:59,510 --> 00:08:02,020 Suze: Now you can change that 120 00:08:02,310 --> 00:08:07,630 Suze: anytime you want. In fact, Alliant will send you an 121 00:08:07,640 --> 00:08:11,440 Suze: email asking you what it is that you want to do. 122 00:08:11,440 --> 00:08:18,450 Suze: So again, it's very very easy to change an automatic renewal. 123 00:08:18,460 --> 00:08:19,980 Suze: Did that help you KT? 124 00:08:19,990 --> 00:08:21,280 KT: Yea, I'm going to do it. 125 00:08:21,290 --> 00:08:24,950 Suze: You know everybody as you can tell, KT has been 126 00:08:24,950 --> 00:08:25,470 Suze: your 127 00:08:25,770 --> 00:08:30,740 Suze: really good friend over all these years because she really 128 00:08:30,750 --> 00:08:33,020 Suze: is like so many of you 129 00:08:33,300 --> 00:08:37,439 Suze: where she can get confused very easily. It's true, right, KT? 130 00:08:37,450 --> 00:08:40,780 KT: I don't get confused. I just don't have as much 131 00:08:40,790 --> 00:08:41,959 KT: knowledge as you. 132 00:08:41,970 --> 00:08:44,790 Suze: Well, of course you don't. There's only one Suze Orman. 133 00:08:44,800 --> 00:08:48,790 Suze: For those of you who maybe get confused or you 134 00:08:48,790 --> 00:08:52,590 Suze: don't know what to do and you don't know who 135 00:08:52,590 --> 00:08:58,200 Suze: do you ask now? Who do you go to at Alliant to ask a question. The other 136 00:08:58,200 --> 00:09:01,800 Suze: great news that we have for all of you 137 00:09:02,100 --> 00:09:07,130 Suze: is this: we have created an email address that's going 138 00:09:07,130 --> 00:09:11,199 Suze: to serve as a helpline for all of you. So 139 00:09:11,200 --> 00:09:14,439 Suze: if you have a question and this is only for 140 00:09:14,450 --> 00:09:19,280 Suze: Suze Peeps. So if you came to Alliant through me 141 00:09:19,320 --> 00:09:24,709 Suze: through this podcast and you need help with anything that 142 00:09:24,710 --> 00:09:29,250 Suze: has to do with your Alliant Credit Union account. 143 00:09:29,400 --> 00:09:33,699 Suze: You're trying to become a member, whatever it may be. 144 00:09:33,710 --> 00:09:38,660 Suze: Whatever you need help with write this down. Send an 145 00:09:38,670 --> 00:09:46,220 Suze: email to Suze S. U. Z. E. Suze help at 146 00:09:46,230 --> 00:09:49,470 Suze: Alliant Credit union dot com. 147 00:09:49,860 --> 00:09:53,439 Suze: So if you want help, don't now go to straight 148 00:09:53,440 --> 00:09:56,960 Suze: to Alliant Credit Union. Don't go calling them, go to 149 00:09:56,960 --> 00:10:02,349 Suze: my help line via this email with Suze help at 150 00:10:02,350 --> 00:10:06,530 Suze: Alliant Credit union dot com. Now in a second. Here 151 00:10:06,540 --> 00:10:10,040 Suze: we are going to go to Suze School and I 152 00:10:10,050 --> 00:10:11,710 Suze: am going to tell you 153 00:10:12,070 --> 00:10:15,630 Suze: in this Suze School how I want you to use 154 00:10:15,800 --> 00:10:20,160 Suze: these three month and six month certificates of deposits 155 00:10:20,780 --> 00:10:25,719 Suze: as an alternative to your emergency savings account. What KT? 156 00:10:25,790 --> 00:10:27,450 KT: Suze, I have more questions for you. 157 00:10:27,460 --> 00:10:29,640 Suze: Of course you do KT what? 158 00:10:29,650 --> 00:10:34,449 KT: Okay, so on March 1st Tommy, our nephew is turning five. 159 00:10:35,450 --> 00:10:40,340 KT: But wouldn't this be an incredible gift to open a 160 00:10:40,340 --> 00:10:43,670 KT: six month certificate of deposit for a you know for a five year old? 161 00:10:45,940 --> 00:10:50,920 Suze: You can so you can have a custodial account for 162 00:10:50,929 --> 00:10:54,690 Suze: a minor but you can't do it online, you have 163 00:10:54,690 --> 00:10:56,790 Suze: to do it on the phone just so you know. 164 00:10:56,790 --> 00:10:57,000 KT: But it's easy, right? 165 00:10:58,170 --> 00:10:59,280 Suze: Of course it's easy. 166 00:10:59,760 --> 00:11:01,910 KT: I'd rather call someone and have them do it. 167 00:11:01,920 --> 00:11:03,710 Suze: It would be it would be a great thing to 168 00:11:03,710 --> 00:11:04,750 Suze: start to give him. 169 00:11:06,600 --> 00:11:09,570 KT: All of them. These are great gifts while the going's good. I'd love to give 170 00:11:09,570 --> 00:11:12,729 KT: these as gifts and I have one more question for me, 171 00:11:12,740 --> 00:11:16,880 KT: can I use money from my IRA to actually buy 172 00:11:16,880 --> 00:11:18,140 KT: these certificates? 173 00:11:18,150 --> 00:11:25,340 Suze: Actually you cannot. Normally you could buy different certificates one year, 174 00:11:25,340 --> 00:11:30,020 Suze: whatever five years. But because these are so specialized there 175 00:11:30,020 --> 00:11:32,660 Suze: are only three and six months. 176 00:11:32,870 --> 00:11:37,050 Suze: If you have a retirement account you cannot purchase the 177 00:11:37,050 --> 00:11:40,990 Suze: three month and the six month in a retirement account 178 00:11:41,000 --> 00:11:44,880 Suze: at Alliant Credit Union. You know, KT, I don't know 179 00:11:44,880 --> 00:11:48,979 Suze: if people get how special this is that Alliant is offering 180 00:11:48,980 --> 00:11:53,449 Suze: these three and six month certificates of deposits. 181 00:11:53,460 --> 00:11:54,520 KT: Because you asked them to. 182 00:11:54,900 --> 00:11:57,560 Suze: I asked them to and they did it because I 183 00:11:57,559 --> 00:12:00,920 Suze: want all of you to be invested short term 184 00:12:01,160 --> 00:12:04,120 Suze: and so you're not really gonna find rates like this 185 00:12:04,120 --> 00:12:08,040 Suze: for three and six months anywhere else. Truthfully, but the 186 00:12:08,040 --> 00:12:12,469 Suze: point is this is only available to the listeners of 187 00:12:12,470 --> 00:12:16,280 Suze: the Women and Money podcast. You're not gonna get an 188 00:12:16,290 --> 00:12:20,079 Suze: email about it, you're not gonna see it advertised anywhere. 189 00:12:20,110 --> 00:12:24,900 Suze: It's only if you listen to this podcast. 190 00:12:24,929 --> 00:12:27,400 KT: I think we should talk about it all week. 191 00:12:27,679 --> 00:12:30,300 Suze: No, we're not going to talk about it all week. 192 00:12:30,309 --> 00:12:32,890 KT: We should. It's so special. 193 00:12:32,890 --> 00:12:34,550 Suze: I know but they've heard it now. 194 00:12:36,470 --> 00:12:39,240 KT: Thursday, I'll tell you more about it Thursday. I'll tell you 195 00:12:39,240 --> 00:12:42,350 KT: which one I bought and how much I put in. 196 00:12:42,360 --> 00:12:45,670 Suze: Because I want her to not just do the six months. 197 00:12:46,820 --> 00:12:46,920 KT: I'm going to do two. 198 00:12:46,920 --> 00:12:50,429 Suze: Yea, I want her to divide whatever money she is going to 199 00:12:50,440 --> 00:12:53,120 Suze: decide to put in. That's up to her. I don't 200 00:12:53,120 --> 00:12:53,959 Suze: get involved. 201 00:12:54,110 --> 00:12:56,950 Suze: I want half go into the three month and half 202 00:12:56,950 --> 00:12:59,870 Suze: to go into the six month. That's what I want 203 00:12:59,880 --> 00:13:02,640 Suze: all of you to do. Now, if KT wants to 204 00:13:02,640 --> 00:13:06,160 Suze: listen to me and do that okay but you never know. 205 00:13:06,170 --> 00:13:10,620 Suze: KT sometimes has a mind of her own. Any more questions. KT? 206 00:13:10,620 --> 00:13:17,390 KT: No, that's it. Suze School is about to begin, class is in session. 207 00:13:18,040 --> 00:13:24,450 Suze: So that is the good news everybody. So again it's 208 00:13:24,450 --> 00:13:28,750 Suze: My Alliant dot com slash Ultimate. 209 00:13:29,179 --> 00:13:33,500 Suze: And if you have any problems whatsoever, send an email 210 00:13:33,500 --> 00:13:37,700 Suze: to Suze help... that's S. U. Z. E. Help, one word, 211 00:13:37,760 --> 00:13:44,000 Suze: at Alliant Credit union dot com. Now remember for additional 212 00:13:44,059 --> 00:13:49,870 Suze: information about the three and six month certificates, that can 213 00:13:49,870 --> 00:13:56,110 Suze: be found as well at My Alliant dot com slash Ultimate. 214 00:13:56,870 --> 00:14:00,640 Suze: Alright KT, you might as well just go and tell 215 00:14:00,640 --> 00:14:02,910 Suze: Barbara what you want her to do for you. 216 00:14:03,300 --> 00:14:04,650 KT: Are you kicking me out? 217 00:14:05,309 --> 00:14:06,790 Suze: I am actually. 218 00:14:06,800 --> 00:14:11,740 KT: Alright everybody. She likes to be alone and focused when 219 00:14:11,740 --> 00:14:17,310 KT: she does Suze School. So until Thursday stay tuned, get 220 00:14:17,309 --> 00:14:20,530 KT: that certificate. Buy a few of them like I am and enjoy this amazing rate.  Thank you Alliant, thank you, Suze. 221 00:14:25,960 --> 00:14:31,650 Suze: There you go. Bye bye KT. Alright everybody. So let's 222 00:14:31,660 --> 00:14:34,380 Suze: go to Suze School. 223 00:14:34,990 --> 00:14:38,520 Suze: The reason that what we're doing right now with three 224 00:14:38,520 --> 00:14:44,940 Suze: and six months certificates of deposits are so important is this, 225 00:14:45,060 --> 00:14:49,280 Suze: as you heard me say earlier, there really is no 226 00:14:49,280 --> 00:14:54,250 Suze: place to run right now. The markets were horrible last week, 227 00:14:54,540 --> 00:14:58,340 Suze: as I've said, if you follow me on the women 228 00:14:58,340 --> 00:15:01,900 Suze: and community app, I give market updates every few days 229 00:15:01,900 --> 00:15:04,000 Suze: or at least once a week or every two weeks. 230 00:15:04,010 --> 00:15:07,840 Suze: And I think you may see next week the markets 231 00:15:07,840 --> 00:15:10,620 Suze: maybe be a little stable for a little bit. But 232 00:15:10,620 --> 00:15:14,030 Suze: then they really will as I've been telling you now 233 00:15:14,030 --> 00:15:18,930 Suze: for a while they will most likely continue down. 234 00:15:19,400 --> 00:15:24,080 Suze: So it's brutal for everything. It's brutal for the energy stocks. 235 00:15:24,090 --> 00:15:29,140 Suze: It's been seriously brutal for PXD. The stock that I really 236 00:15:29,140 --> 00:15:32,540 Suze: like and I still like it. The energy stock, you know, 237 00:15:32,540 --> 00:15:37,979 Suze: for Devon it has been brutal across the board. Which 238 00:15:37,980 --> 00:15:42,750 Suze: is why it's always important to dollar cost average and 239 00:15:42,750 --> 00:15:45,670 Suze: never lump sum into buying something 240 00:15:46,130 --> 00:15:50,580 Suze: if you can't buy it on the way down as well. 241 00:15:50,620 --> 00:15:56,610 Suze: So that's number one, number two. However, it's times like 242 00:15:56,610 --> 00:16:02,510 Suze: this where things are starting to happen in the economy 243 00:16:02,540 --> 00:16:07,860 Suze: where layoffs are starting to happen little by little even 244 00:16:07,870 --> 00:16:10,790 Suze: in the service industry, 245 00:16:11,370 --> 00:16:17,230 Suze: which is not a good sign. Walmart is laying off people. 246 00:16:17,820 --> 00:16:24,450 Suze: So that makes the topic of emergency funds even more important. 247 00:16:25,400 --> 00:16:29,500 Suze: And as you know, I have been a tremendous advocate 248 00:16:30,420 --> 00:16:36,280 Suze: for you to have 8 to 12 months of funds 249 00:16:36,290 --> 00:16:42,420 Suze: for emergencies in case you get sick, in case you 250 00:16:42,420 --> 00:16:47,510 Suze: get laid off, in case something happens and you cannot work. 251 00:16:47,770 --> 00:16:53,000 Suze: And what do those eight or 12 months correspond to? They are, 252 00:16:53,000 --> 00:16:55,210 Suze: what you would have to pay 253 00:16:55,520 --> 00:17:02,910 Suze: and mandatory bills for at least eight months, preferably one year. 254 00:17:02,910 --> 00:17:06,530 Suze: But let's just stick with eight months for now. So 255 00:17:06,530 --> 00:17:11,390 Suze: what that means is, now start to write down especially 256 00:17:11,390 --> 00:17:13,220 Suze: this in your Suze notebook. 257 00:17:14,050 --> 00:17:17,440 Suze: I want you to write down the bills that you 258 00:17:17,440 --> 00:17:23,200 Suze: have to pay every single month, no matter what. If 259 00:17:23,200 --> 00:17:28,400 Suze: you happen to pay your car insurance once every three months, 260 00:17:28,410 --> 00:17:32,250 Suze: I want you to divide whatever amount that is and 261 00:17:32,250 --> 00:17:34,510 Suze: make it a monthly amount 262 00:17:35,050 --> 00:17:37,859 Suze: so that you at least know that you have to 263 00:17:37,859 --> 00:17:40,890 Suze: save that money for three months. So that why? You 264 00:17:40,890 --> 00:17:45,560 Suze: can then pay your insurance. So for an example, every 265 00:17:45,560 --> 00:17:49,119 Suze: month you have to pay your rent or your mortgage, 266 00:17:49,530 --> 00:17:53,450 Suze: you have to maybe pay a car payment, maybe your cellphone, 267 00:17:53,650 --> 00:17:58,810 Suze: your utilities, your insurance, your car insurance, possibly your health insurance, 268 00:17:58,820 --> 00:18:02,659 Suze: whatever it may be. Food that you buy at a 269 00:18:02,660 --> 00:18:07,920 Suze: grocery store, utilities, gasoline, your student loans. 270 00:18:08,440 --> 00:18:10,560 Suze: If you drive your car to work and you have 271 00:18:10,560 --> 00:18:14,560 Suze: to pay for parking, what does that cost you? All 272 00:18:14,570 --> 00:18:18,960 Suze: of those things. So write down every one of the 273 00:18:18,960 --> 00:18:23,230 Suze: categories that you can think about, that you know, you 274 00:18:23,230 --> 00:18:26,320 Suze: have to pay every single month. 275 00:18:27,160 --> 00:18:30,830 Suze: Then you might want to go through your records and 276 00:18:30,830 --> 00:18:34,830 Suze: you might want to actually put the dollar amount in 277 00:18:34,830 --> 00:18:39,000 Suze: there so that you know when you total them up, 278 00:18:39,010 --> 00:18:45,600 Suze: how much you actually need to pay out every single month. 279 00:18:46,109 --> 00:18:47,970 Suze: So let's just say 280 00:18:48,690 --> 00:18:54,959 Suze: that for you, your must pay bills comes to $5000 281 00:18:54,960 --> 00:18:59,780 Suze: a month. Let's just say that's true. Therefore if you 282 00:18:59,790 --> 00:19:04,940 Suze: were to have an eight month emergency fund, that eight 283 00:19:04,950 --> 00:19:06,719 Suze: month emergency fund 284 00:19:07,350 --> 00:19:14,770 Suze: Would have to be $40,000. Let's just assume that you've 285 00:19:14,770 --> 00:19:21,010 Suze: worked really, really hard to save $40,000 and it is 286 00:19:21,020 --> 00:19:23,100 Suze: in a savings account. 287 00:19:23,680 --> 00:19:27,140 Suze: Now for this example, I'm going to use Alliant Credit 288 00:19:27,140 --> 00:19:32,080 Suze: Uunion because I happen to know what the Alliant Credit 289 00:19:32,080 --> 00:19:36,450 Suze: Union is currently paying you on the Ultimate Opportunity Savings account. 290 00:19:36,460 --> 00:19:44,770 Suze: So you have $40,000 earning 2.95%. Here is what I 291 00:19:44,770 --> 00:19:52,530 Suze: want you to do, given that your monthly expenses are $5,000. 292 00:19:52,930 --> 00:19:56,990 Suze: I want you to times whatever your monthly expenses in 293 00:19:56,990 --> 00:20:04,649 Suze: this case, 5000 by three that gives you $15,000. I 294 00:20:04,650 --> 00:20:11,510 Suze: want you to keep $15,000 in the Ultimate Opportunity Savings 295 00:20:11,510 --> 00:20:17,230 Suze: account making 2.95%. So that if anything happens I know 296 00:20:17,230 --> 00:20:19,129 Suze: that you're fine for three months. 297 00:20:19,730 --> 00:20:25,340 Suze: Then that will leave you. If you subtract $15,000, 298 00:20:26,210 --> 00:20:31,600 Suze: the three months of emergency, money from $40,000. The eight 299 00:20:31,600 --> 00:20:39,170 Suze: month of emergency money. That will leave you with $25,000. 300 00:20:39,380 --> 00:20:44,669 Suze: Of that $25,000. Now listen closely, I want you to 301 00:20:44,670 --> 00:20:49,300 Suze: put 15,000 of it into 302 00:20:49,640 --> 00:20:54,550 Suze: the three month certificate of deposit at Alliant Credit Union 303 00:20:54,560 --> 00:20:56,900 Suze: for 4.85%. 304 00:20:57,800 --> 00:21:03,260 Suze: I then want you to subtract 15,000 from the 25,000. 305 00:21:03,480 --> 00:21:08,020 Suze: That leaves you $10,000. Are you following me here? And 306 00:21:08,020 --> 00:21:13,420 Suze: I want you to put that into the six-month certificate 307 00:21:13,430 --> 00:21:21,160 Suze: of deposit at 5%. Now you still have your $40,000. 308 00:21:21,900 --> 00:21:31,200 Suze: But 15,000 is earning currently 2.95%, 15,000 is earning 4.85% 309 00:21:31,980 --> 00:21:36,210 Suze: And 10,000 is earning 5%. 310 00:21:36,869 --> 00:21:41,199 Suze: Now obviously you might think well Suze why can't I 311 00:21:41,200 --> 00:21:44,850 Suze: just put all of it in to the six month 312 00:21:44,850 --> 00:21:49,359 Suze: certificate of deposit. And that's because if something happens tomorrow, 313 00:21:49,369 --> 00:21:52,949 Suze: I need to know that you are okay. And the 314 00:21:52,950 --> 00:21:59,770 Suze: way this works is as follows. You have $15,000 that's 315 00:21:59,770 --> 00:22:04,440 Suze: earning 2.95%. So if anything happens you can carry yourself 316 00:22:04,440 --> 00:22:05,900 Suze: for three months. 317 00:22:06,530 --> 00:22:11,740 Suze: Let's say something happens. You now have used up the 318 00:22:11,740 --> 00:22:18,800 Suze: $15,000 over three months. But now you have another 319 00:22:19,440 --> 00:22:27,530 Suze: $15,000 that is maturing that will take you another three months. 320 00:22:27,630 --> 00:22:32,010 Suze: Do you see that then three months from that time 321 00:22:32,020 --> 00:22:36,300 Suze: your six month will be maturing and now you have 322 00:22:36,300 --> 00:22:40,270 Suze: $10,000 that will take you for two more months. Making 323 00:22:40,270 --> 00:22:43,700 Suze: it your eight-month emergency fund. 324 00:22:44,500 --> 00:22:48,680 Suze: Now let's just say you do this 325 00:22:49,470 --> 00:22:52,010 Suze: and you don't need the money. 326 00:22:52,700 --> 00:22:58,679 Suze: I still want you to always keep $15,000 in the 327 00:22:58,680 --> 00:23:02,390 Suze: savings making whatever Alliant or wherever it happens to be 328 00:23:02,390 --> 00:23:05,030 Suze: that you're saving it whatever they're paying you. 329 00:23:05,720 --> 00:23:10,540 Suze: And then what starts to happen is this - in this 330 00:23:10,540 --> 00:23:14,240 Suze: case let's just say for the first three months you 331 00:23:14,240 --> 00:23:18,010 Suze: were fine. So you still have your $15,000 in savings. 332 00:23:18,109 --> 00:23:23,460 Suze: But now your three-month certificate of deposit has just come due. 333 00:23:24,109 --> 00:23:29,879 Suze: Now I want you to take that $15,000 and I 334 00:23:29,880 --> 00:23:35,030 Suze: now want you to buy a six-month certificate of deposit 335 00:23:35,040 --> 00:23:38,540 Suze: with it. Because the six months right now are paying 336 00:23:38,540 --> 00:23:39,750 Suze: more than the three. 337 00:23:41,130 --> 00:23:46,210 Suze: Then when your six month certificate of deposit that you 338 00:23:46,210 --> 00:23:51,810 Suze: originally purchased comes due three months later. Now you'll decide 339 00:23:51,820 --> 00:23:55,120 Suze: what you want to do because if still nothing has 340 00:23:55,119 --> 00:23:59,250 Suze: happened then you'll take that money and do what with it? 341 00:23:59,260 --> 00:24:04,500 Suze: Buy another six month certificate of deposit, again depending on 342 00:24:04,510 --> 00:24:07,980 Suze: interest rates, did you follow that? 343 00:24:08,290 --> 00:24:13,080 Suze: What that starts to allow you to do is as 344 00:24:13,090 --> 00:24:16,470 Suze: interest rates go up which I think they're going to. 345 00:24:16,770 --> 00:24:20,760 Suze: You will be making more and more money but on 346 00:24:20,760 --> 00:24:23,440 Suze: different segments of this money. 347 00:24:24,250 --> 00:24:28,330 Suze: B ut that it also keeps you liquid enough in case 348 00:24:28,330 --> 00:24:33,170 Suze: what an emergency happens and you need these emergency funds. 349 00:24:33,170 --> 00:24:39,020 Suze: Now obviously you don't need this money. It's not for emergency. 350 00:24:39,020 --> 00:24:42,290 Suze: You just happen to have money sitting in the Ultimate 351 00:24:42,290 --> 00:24:50,410 Suze: Opportunity Savings account 300,000 or whatever it may be making 2.95%. 352 00:24:50,760 --> 00:24:54,139 Suze: Maybe you have an emergency savings account somewhere else. 353 00:24:54,800 --> 00:24:57,010 Suze: But this was just money that you just want to 354 00:24:57,010 --> 00:25:00,020 Suze: be safe and sound and make a good rate. If 355 00:25:00,020 --> 00:25:04,030 Suze: that is true, then if I were you let's just 356 00:25:04,030 --> 00:25:09,220 Suze: say you had 200,000 sitting in an Ultimate Opportunity Savings account. 357 00:25:09,230 --> 00:25:13,230 Suze: I want you then to put 100,000 in a three 358 00:25:13,230 --> 00:25:15,110 Suze: month certificate of deposit, 359 00:25:15,740 --> 00:25:21,480 Suze: currently paying 4.85% at Alliant credit union and a six-month 360 00:25:21,640 --> 00:25:26,750 Suze: certificate of deposit currently paying 5% APY. 361 00:25:27,350 --> 00:25:31,360 Suze: When the three month comes due in three months then 362 00:25:31,359 --> 00:25:33,430 Suze: we'll have to see what interest rates are doing. But 363 00:25:33,430 --> 00:25:36,490 Suze: let's just say they keep tracking like they have been. 364 00:25:36,730 --> 00:25:39,500 Suze: Then you would take that money and roll it to 365 00:25:39,500 --> 00:25:43,070 Suze: a six month certificate of deposit paying whatever it's paying. 366 00:25:43,619 --> 00:25:46,830 Suze: And then three months later when your original six month 367 00:25:46,830 --> 00:25:52,160 Suze: comes to you by another six month until our strategies change. 368 00:25:52,170 --> 00:25:54,570 Suze: And then maybe we go to one year or two 369 00:25:54,570 --> 00:25:58,590 Suze: year or five year or 10 year. It depends what 370 00:25:58,590 --> 00:26:02,010 Suze: we're gonna do. An Alliant Credit Union also offers all 371 00:26:02,020 --> 00:26:07,179 Suze: of those. So that is the strategy of what I 372 00:26:07,180 --> 00:26:08,590 Suze: want you to do. 373 00:26:09,350 --> 00:26:12,560 Suze: So even if you were going to do Treasury bills 374 00:26:12,570 --> 00:26:15,090 Suze: I would want you to do a three month treasury 375 00:26:15,090 --> 00:26:19,230 Suze: bill and a six month treasury bill. Don't go out 376 00:26:19,230 --> 00:26:23,240 Suze: longer than that. Divide your money between the two. 377 00:26:24,080 --> 00:26:26,140 Suze: So if you can do that 378 00:26:26,980 --> 00:26:30,379 Suze: then I think we'll be in a great position to 379 00:26:30,380 --> 00:26:34,940 Suze: take advantage of the interest rates going up which I 380 00:26:34,940 --> 00:26:38,710 Suze: am pretty sure you are going to see happen because 381 00:26:38,710 --> 00:26:42,639 Suze: the Feds are again are not happy that inflation has 382 00:26:42,640 --> 00:26:46,650 Suze: not come down as much as they have wanted it to. 383 00:26:47,200 --> 00:26:50,000 Suze: So that is what I want all of you to 384 00:26:50,000 --> 00:26:55,290 Suze: know for this Sunday's Suze School again a very quick 385 00:26:55,290 --> 00:27:00,370 Suze: recap which is to open up your three month or 386 00:27:00,369 --> 00:27:05,440 Suze: six month certificate of deposit at Alliant Credit Union. You 387 00:27:05,440 --> 00:27:11,920 Suze: need to go to My Alliant dot com slash Ultimate. 388 00:27:12,030 --> 00:27:16,530 Suze: That's U. L. T. I. M A. T. E. Ultimate. 389 00:27:16,890 --> 00:27:20,170 Suze: And why is it that? Because these rates are the 390 00:27:20,170 --> 00:27:23,020 Suze: ultimate rates that you're going to get. Again, the three 391 00:27:23,020 --> 00:27:31,669 Suze: month will be 4.85% and the six month will be 5%. 392 00:27:31,840 --> 00:27:36,860 Suze: They're available today. So go ahead and do it. All 393 00:27:36,859 --> 00:27:42,450 Suze: right everybody. So until Thursday when Miss Travis comes back 394 00:27:42,790 --> 00:27:47,159 Suze: and joins me with an Ask KT and Suze Anything. 395 00:27:47,520 --> 00:27:50,899 Suze: Remember there's only one thing that I want you to 396 00:27:50,900 --> 00:27:55,280 Suze: say every single day and it is this, come on, 397 00:27:55,280 --> 00:28:00,639 Suze: say it with me today, wherever I go I will 398 00:28:00,640 --> 00:28:07,060 Suze: create a more joyful, peaceful and loving world 399 00:28:07,270 --> 00:28:13,540 Suze: And when you do that you will always be unstoppable.