1 00:00:30,299 --> 00:00:34,659 Suze: June 19, 2025. Welcome everybody to the Women and Money 2 00:00:34,659 --> 00:00:37,680 Suze: podcast and everybody smart enough to listen. 3 00:00:38,180 --> 00:00:39,209 Suze: This is Ask KT and Suze... 4 00:00:43,549 --> 00:00:43,630 KT: Anything! 5 00:00:43,630 --> 00:00:43,650 Suze: Oh, there she is. 6 00:00:43,650 --> 00:00:47,049 KT: Here I am. Today's a really great day, one of 7 00:00:47,049 --> 00:00:51,970 KT: one of my favorite of all time. Why? It's called Juneteenth. 8 00:00:52,220 --> 00:00:53,139 Suze: Oh we love Juneteenth. 9 00:00:53,139 --> 00:00:53,889 KT: I love Juneteenth 10 00:00:53,889 --> 00:00:54,900 Suze: Every year. She loves this holiday. 11 00:00:55,860 --> 00:00:58,659 KT: Juneteenth is a federal holiday for those of you that 12 00:00:58,659 --> 00:01:03,419 KT: may not know, and it's really, really, it's, it's very important, 13 00:01:03,490 --> 00:01:04,580 KT: but it's also known as 14 00:01:04,859 --> 00:01:11,808 KT: America's Second Independence Day. Why? This is acknowledging the freedom 15 00:01:11,808 --> 00:01:15,728 KT: of all enslaved people in the United States. 16 00:01:15,819 --> 00:01:17,078 Suze: When did that happen? KT? 17 00:01:17,179 --> 00:01:22,527 KT: Oh my goodness, like 1865 something like that. But you know, 18 00:01:22,578 --> 00:01:24,898 KT: it was interesting. I was reading a little bit about 19 00:01:24,899 --> 00:01:29,289 KT: the history. It was one of the um generals went 20 00:01:29,289 --> 00:01:34,109 KT: into Texas and announced that on this day, 21 00:01:34,750 --> 00:01:41,339 KT: there were 250,000 enslaved black people in the state of Texas, 22 00:01:41,510 --> 00:01:43,899 KT: and he went in and he said, you are all free. 23 00:01:44,150 --> 00:01:47,440 KT: So Texas, I mean, they could probably the biggest barbecue 24 00:01:47,440 --> 00:01:49,419 KT: on earth that day. Anyway... 25 00:01:49,550 --> 00:01:50,839 Suze: Where is that general today? 26 00:01:51,035 --> 00:01:55,775 KT: The end of slavery. We're very happy, so everyone's celebrating. 27 00:01:55,904 --> 00:01:58,855 KT: Enjoy this wonderful, important day. 28 00:01:59,105 --> 00:01:59,584 Suze: All right. 29 00:02:00,025 --> 00:02:02,565 KT: So Suze, my first question is from Paul. 30 00:02:02,875 --> 00:02:03,415 Suze: Go on. 31 00:02:03,904 --> 00:02:04,144 KT: All right, you ready? 32 00:02:04,864 --> 00:02:07,425 Suze: You have this little smirk on your face again. 33 00:02:07,910 --> 00:02:08,690 KT: Why? 34 00:02:08,850 --> 00:02:09,889 Suze: I don't know why. Why do you? 35 00:02:10,490 --> 00:02:13,809 KT: No, this is just a really simple question. Hi Suze 36 00:02:13,809 --> 00:02:17,570 KT: and KT. I've been a listener of your podcast for 37 00:02:17,570 --> 00:02:22,050 KT: the past few years. I was gifted young, fabulous, and 38 00:02:22,050 --> 00:02:23,639 KT: broke years ago. 39 00:02:23,889 --> 00:02:25,179 Suze: I think I wrote that book... 40 00:02:25,410 --> 00:02:26,320 KT: I love that book 41 00:02:26,320 --> 00:02:27,329 Suze: ...in 2005. 42 00:02:27,529 --> 00:02:28,179 KT: Great book. 43 00:02:28,330 --> 00:02:29,889 Suze: 20 years ago. 44 00:02:29,970 --> 00:02:32,860 KT: It really helped shape how I thought about money in 45 00:02:32,919 --> 00:02:33,750 KT: my 20s and 30s. 46 00:02:34,288 --> 00:02:36,059 Suze: Is he now old, fabulous, and broke? 47 00:02:36,429 --> 00:02:36,788 KT: Well, wait, 48 00:02:36,839 --> 00:02:39,940 KT: here's what he wrote. Thankfully, though I'm not so young, 49 00:02:40,070 --> 00:02:42,000 KT: I'm also not so broke anymore. 50 00:02:42,270 --> 00:02:42,788 Suze: Oh good, Paul. 51 00:02:42,990 --> 00:02:45,788 KT: He's in Paul's in his early 40s. He said, I've 52 00:02:45,788 --> 00:02:50,220 KT: reached a milestone in my retirement savings where the annual 53 00:02:50,220 --> 00:02:55,029 KT: returns from my 401k are roughly equal to or even 54 00:02:55,029 --> 00:02:57,869 KT: greater than my annual contribution. 55 00:02:58,440 --> 00:03:00,320 KT: So I've been maxing out my 401(k) 56 00:03:00,320 --> 00:03:07,079 Suze: Wait wait wait, that is called compounding everybody where your money, 57 00:03:07,610 --> 00:03:11,229 Suze: is making more money for you than what you are 58 00:03:11,229 --> 00:03:16,669 Suze: depositing into that account. That is because Paul started 20 59 00:03:16,669 --> 00:03:19,710 Suze: years ago, and he had that many years for it 60 00:03:19,710 --> 00:03:24,788 Suze: to compound and bingo, he now has hit a fabulous 61 00:03:24,788 --> 00:03:26,389 Suze: point in his retirement. 62 00:03:26,410 --> 00:03:28,949 KT: And that's what this question is about. He said, I'd 63 00:03:28,949 --> 00:03:30,309 KT: love your perspective. 64 00:03:30,869 --> 00:03:35,229 KT: Would it be wiser to now redirect some or all 65 00:03:35,229 --> 00:03:40,889 KT: of my contributions elsewhere for greater impact, whether that's investing 66 00:03:40,889 --> 00:03:46,789 KT: in a different account, purchasing an income generating property or 67 00:03:46,789 --> 00:03:49,669 KT: something else entirely, I'm wide open. 68 00:03:50,119 --> 00:03:53,410 KT: And then he's thinking, this is so sweet. He said, 69 00:03:53,429 --> 00:03:56,710 KT: thank you for all the guidance and energy you bring, Suze, 70 00:03:57,029 --> 00:04:01,429 KT: and for your loving truth so openly. Two years ago, 71 00:04:01,509 --> 00:04:07,350 KT: I proudly married my husband, and that's another celebration in June. 72 00:04:07,440 --> 00:04:10,979 KT: Pride Month and while he rolls his eyes when I 73 00:04:10,979 --> 00:04:14,820 KT: get on to the Suze soapbox, I'd love him to 74 00:04:14,820 --> 00:04:16,899 KT: hear you answer my question. 75 00:04:17,359 --> 00:04:18,579 Suze: That's why you picked it, didn't you? 76 00:04:18,660 --> 00:04:19,578 KT: Yes of course. 77 00:04:19,579 --> 00:04:22,103 KT: There's always a reason she picks them. 78 00:04:22,103 --> 00:04:22,589 KT: Listen up, husband. 79 00:04:23,589 --> 00:04:29,500 Suze: Hubby hubby hubby. First of all, you say it's a 401k, Paul. 80 00:04:29,738 --> 00:04:33,238 Suze: You did not say it is a Roth 401k. 81 00:04:34,809 --> 00:04:39,600 Suze: Now maybe where you work they don't offer a Roth 401k, 82 00:04:40,369 --> 00:04:44,489 Suze: but I need you to start getting money into a 83 00:04:44,488 --> 00:04:48,380 Suze: Roth and given that you're in your forties, I need 84 00:04:48,380 --> 00:04:53,190 Suze: you to start converting that money to a Roth 401k. 85 00:04:54,279 --> 00:04:57,589 Suze: Or a Roth IRA if they allow you to do 86 00:04:57,589 --> 00:05:01,500 Suze: a partial distribution if you're still working for them, because 87 00:05:01,500 --> 00:05:04,868 Suze: that's how you really will get the most for your 88 00:05:04,869 --> 00:05:08,200 Suze: money now. What else should you be doing? I have 89 00:05:08,200 --> 00:05:11,779 Suze: to tell you there isn't a better investment out there 90 00:05:11,988 --> 00:05:15,510 Suze: than a Roth retirement account. I would not be doing 91 00:05:15,510 --> 00:05:16,789 Suze: real estate right now. 92 00:05:17,640 --> 00:05:21,679 Suze: Real estate right now really is not my favorite thing. 93 00:05:21,760 --> 00:05:25,989 Suze: And why is that? Because of weather situations happening out there, 94 00:05:26,359 --> 00:05:30,119 Suze: because of the increase in insurance costs, because of maintenance, 95 00:05:30,130 --> 00:05:33,760 Suze: all kinds of things. I really believe that you can 96 00:05:33,760 --> 00:05:37,839 Suze: make more money with less hassle in the stock market. 97 00:05:38,238 --> 00:05:42,239 Suze: So given that you're doing so well, you understand it. 98 00:05:42,480 --> 00:05:45,519 Suze: What I would be doing if I were you is 99 00:05:45,519 --> 00:05:48,839 Suze: I would somehow be getting all of that money little 100 00:05:48,839 --> 00:05:52,720 Suze: by little into a Roth, and remember you can have 101 00:05:52,720 --> 00:05:56,600 Suze: a Roth IRA and a Roth 401k if you make 102 00:05:56,600 --> 00:06:00,890 Suze: too much money for a Roth, then do a back 103 00:06:00,890 --> 00:06:05,600 Suze: door Roth, but you need to do that. All right, next. 104 00:06:06,200 --> 00:06:11,959 Suze: Surprise little hubby. Surprise. You don't get on him when 105 00:06:11,959 --> 00:06:15,279 Suze: he gets on his soapbox. Do you hear me, Paul's hubby? Anyway, 106 00:06:15,480 --> 00:06:15,839 Suze: go on. 107 00:06:15,910 --> 00:06:19,679 KT: OK, this next question is really typical that I think 108 00:06:19,678 --> 00:06:22,869 KT: many listeners will relate to, and this is from Keila. 109 00:06:23,269 --> 00:06:26,399 KT: She said, My 22 year old daughter is working full 110 00:06:26,399 --> 00:06:29,670 KT: time and making about $30,000 a year. 111 00:06:30,350 --> 00:06:35,260 KT: She attends a community college part time and will transfer 112 00:06:35,260 --> 00:06:39,700 KT: to a university in about one year for her bachelor's degree. 113 00:06:40,149 --> 00:06:42,790 KT: She lives with her boyfriend in an apartment. 114 00:06:43,428 --> 00:06:48,018 KT: Her boyfriend works construction, which is seasonal. He's not in school. 115 00:06:48,428 --> 00:06:54,868 KT: He maybe makes about $20,000 a year. They're having financial difficulties, 116 00:06:54,910 --> 00:06:58,349 KT: and they want to move into my home with me 117 00:06:58,670 --> 00:07:01,789 KT: for a period of time to save up to buy 118 00:07:01,790 --> 00:07:03,230 KT: a house eventually. 119 00:07:04,238 --> 00:07:08,359 KT: OK, ready. How do I know what to charge them? 120 00:07:08,779 --> 00:07:11,779 KT: And then she goes right into giving us a little 121 00:07:11,779 --> 00:07:15,440 KT: bit of her background, but this gets better. I'm divorced. 122 00:07:15,579 --> 00:07:20,480 KT: I work full time. I earn about $92,000 a year. 123 00:07:20,820 --> 00:07:24,260 KT: My 20 year old son lives with me who is 124 00:07:24,260 --> 00:07:28,179 KT: working part time, and he's in school part time at 125 00:07:28,179 --> 00:07:29,589 KT: a community college. 126 00:07:29,890 --> 00:07:33,799 KT: And I'm helping to support him so that he can 127 00:07:33,799 --> 00:07:39,440 KT: become an electrician. Yes, I still owe about $60,000 towards 128 00:07:39,440 --> 00:07:43,839 KT: my mortgage. That's right. My insurance taxes and mortgage in 129 00:07:43,839 --> 00:07:48,450 KT: one payment is about $670 a month. 130 00:07:48,559 --> 00:07:48,920 Suze: How's that 131 00:07:48,920 --> 00:07:51,440 Suze: possible? But anyway, I believe that if she said it, OK. 132 00:07:51,779 --> 00:07:55,260 KT: She said, I also have a HELOC on which I 133 00:07:55,260 --> 00:08:01,540 KT: owe $25,000 because I have been making much needed repairs 134 00:08:01,540 --> 00:08:02,329 KT: to my house. 135 00:08:02,450 --> 00:08:03,359 Suze: Ding ding ding ding... 136 00:08:03,660 --> 00:08:05,230 KT: Yea, she has no emergency fund... 137 00:08:05,230 --> 00:08:06,209 Suze: Ding ding ding. 138 00:08:06,339 --> 00:08:10,100 KT: OK, she said my ex-husband and I still help my 139 00:08:10,100 --> 00:08:13,140 KT: daughter with her car insurance payment. 140 00:08:13,700 --> 00:08:16,820 KT: The car she drives is under my name and it's 141 00:08:16,820 --> 00:08:21,619 KT: paid off. She also pays her father monthly for her 142 00:08:21,619 --> 00:08:22,739 KT: cell phone bill. 143 00:08:23,910 --> 00:08:26,040 KT: I don't know. She makes $30,000 a year. 144 00:08:26,869 --> 00:08:28,899 Suze: I'm not liking this just so you know. 145 00:08:29,070 --> 00:08:32,030 KT: All right, you ready? I want to help them out 146 00:08:32,030 --> 00:08:34,380 KT: so that that way they could open up an account 147 00:08:34,380 --> 00:08:38,669 KT: and put money in it every month towards the future. However, 148 00:08:39,030 --> 00:08:42,429 KT: I don't want to enable them and have them think 149 00:08:42,429 --> 00:08:45,589 KT: that they don't need to be accountable for money so 150 00:08:45,590 --> 00:08:48,270 KT: that they end up spending it all and going out 151 00:08:48,270 --> 00:08:48,789 KT: all the time. 152 00:08:49,395 --> 00:08:53,294 KT: How do I set those boundaries and establish the appropriate 153 00:08:53,294 --> 00:08:57,395 KT: rent payment to help me out as well? Thanks for 154 00:08:57,395 --> 00:08:57,744 KT: your help, Suze. 155 00:08:57,914 --> 00:08:58,914 Suze: What does my face 156 00:08:58,914 --> 00:08:59,505 Suze: look like? 157 00:08:59,715 --> 00:09:02,304 KT: I'm not going to describe it on the podcast. It's 158 00:09:02,304 --> 00:09:04,784 KT: what we call a radio face. 159 00:09:05,354 --> 00:09:10,074 Suze: Is that a radio face? So first of all, Keila... 160 00:09:14,390 --> 00:09:16,500 Suze: Where do I even start with you? Listen to me. 161 00:09:17,409 --> 00:09:22,429 Suze: You make $92,000 a year. You say, 162 00:09:23,020 --> 00:09:26,718 Suze: that all you owe is $670 a month for your 163 00:09:26,719 --> 00:09:32,929 Suze: mortgage insurance, taxes, da da da da. However, you don't 164 00:09:32,929 --> 00:09:36,108 Suze: have any money. How do I know you don't have 165 00:09:36,109 --> 00:09:39,960 Suze: any money? Because you had to take out a HELOC 166 00:09:40,450 --> 00:09:46,650 Suze: on the equity in your home. Why? To pay for repairs, 167 00:09:46,729 --> 00:09:50,409 Suze: and if you had cash, you never would take out 168 00:09:50,409 --> 00:09:51,380 Suze: a HELOC. 169 00:09:51,809 --> 00:09:55,579 Suze: So even though it looks like you are doing well. 170 00:09:56,369 --> 00:09:59,760 Suze: I don't think you are because you have to think 171 00:09:59,760 --> 00:10:04,590 Suze: about yourself before you continue to think about your kids. 172 00:10:04,820 --> 00:10:08,760 Suze: When I say people first, I mean you, Mamma. I 173 00:10:08,760 --> 00:10:12,000 Suze: mean you 'cause if something happens to you. 174 00:10:12,750 --> 00:10:15,718 Suze: And you can't work anymore and you can't make that 175 00:10:15,719 --> 00:10:17,679 Suze: $92,000 a year. 176 00:10:18,320 --> 00:10:21,880 Suze: Where is all the money going to come from where 177 00:10:21,880 --> 00:10:25,640 Suze: all these kids are living, to pay for your true 178 00:10:25,640 --> 00:10:29,719 Suze: monthly expenses? Why do I have a feeling that you 179 00:10:29,719 --> 00:10:33,280 Suze: gave your paid up car to your daughter and you 180 00:10:33,280 --> 00:10:37,359 Suze: bought another one that you had to finance, cause no 181 00:10:37,359 --> 00:10:40,319 Suze: way did you have the money to do what? Buy 182 00:10:40,320 --> 00:10:44,348 Suze: it outright when you didn't have the money to do repairs, so. 183 00:10:45,520 --> 00:10:47,349 Suze: That's number one. Number two. 184 00:10:48,150 --> 00:10:52,109 Suze: Your daughter is 22 years of age and she is 185 00:10:52,109 --> 00:10:59,039 Suze: living with a boyfriend that works part-time seasonal, only makes 186 00:10:59,039 --> 00:11:03,510 Suze: $20,000 a year, and he's not going to school. Is 187 00:11:03,510 --> 00:11:06,229 Suze: that a boyfriend that has ambition? 188 00:11:06,859 --> 00:11:09,770 Suze: Don't you want somebody for your daughter that all right, 189 00:11:09,780 --> 00:11:13,849 Suze: they make $20,000 a year doing construction, but it's seasonal, 190 00:11:14,020 --> 00:11:17,390 Suze: and then goes out and does all this other stuff. 191 00:11:17,789 --> 00:11:18,939 Suze: Your daughter, 192 00:11:19,780 --> 00:11:25,119 Suze: makes $10,000 more a year than this boyfriend of hers. 193 00:11:25,119 --> 00:11:28,280 Suze: If she wants to move into your home. 194 00:11:29,270 --> 00:11:33,960 Suze: Is this the boyfriend that she's really gonna marry? Really? 195 00:11:34,270 --> 00:11:37,229 Suze: I would say if your daughter said, Mom, I need 196 00:11:37,229 --> 00:11:40,549 Suze: to move back home because I want to save money. 197 00:11:41,630 --> 00:11:45,869 Suze: Not this unrealistic expectation that we want to move in 198 00:11:45,869 --> 00:11:48,500 Suze: so we can save for a down payment on a home. 199 00:11:48,830 --> 00:11:51,750 Suze: They can no more afford a home than the man 200 00:11:51,750 --> 00:11:52,468 Suze: in the moon. 201 00:11:53,090 --> 00:11:57,000 Suze: She's living in this fantasy world, and you're partly responsible 202 00:11:57,000 --> 00:11:59,609 Suze: for it. You gave her a car. You and your 203 00:11:59,609 --> 00:12:04,609 Suze: ex pay for her insurance, cell phone. What are her expenses? 204 00:12:04,770 --> 00:12:07,599 Suze: I just think it's a mistake for her and her 205 00:12:07,599 --> 00:12:11,210 Suze: boyfriend to be moving into your home, and I just 206 00:12:11,210 --> 00:12:15,218 Suze: have to ask you, how does your son feel about it, 207 00:12:15,690 --> 00:12:17,640 Suze: 'cause it's his home as well. 208 00:12:18,030 --> 00:12:20,820 Suze: And now all of a sudden his sister and her 209 00:12:20,820 --> 00:12:24,419 Suze: boyfriend are moving back in. Number one, you need to 210 00:12:24,419 --> 00:12:27,710 Suze: have a discussion with your son and see if he 211 00:12:27,710 --> 00:12:32,218 Suze: feels OK about it. Number 2, here's how I would 212 00:12:32,219 --> 00:12:37,039 Suze: do it. I would be charging them $700 a month 213 00:12:37,460 --> 00:12:43,179 Suze: and any increase in your utility bill or food bill 214 00:12:43,179 --> 00:12:45,219 Suze: they have got to pay. 215 00:12:45,549 --> 00:12:49,130 Suze: I'm just saying that's what I would be doing to 216 00:12:49,130 --> 00:12:53,090 Suze: teach them responsibility. Now that may be more than what 217 00:12:53,090 --> 00:12:57,190 Suze: they're paying now, but I would not make it easy 218 00:12:57,190 --> 00:13:01,049 Suze: on them. $700 a month is not that big of 219 00:13:01,049 --> 00:13:04,809 Suze: a deal for two people to pay rent. All right, 220 00:13:04,969 --> 00:13:07,450 Suze: that's number 1. Number 2, 221 00:13:08,140 --> 00:13:11,719 Suze: I would make it mandatory that they have to open 222 00:13:11,719 --> 00:13:15,890 Suze: a savings account, and you have to agree on the 223 00:13:15,890 --> 00:13:20,289 Suze: minimum amount that they're going to deposit into that savings 224 00:13:20,289 --> 00:13:24,968 Suze: account because you're doing this so they can save money 225 00:13:25,489 --> 00:13:28,689 Suze: and once a month you listen to me now, once 226 00:13:28,690 --> 00:13:33,598 Suze: a month they have to show you that savings account 227 00:13:34,010 --> 00:13:36,119 Suze: and you have to make sure that it is growing 228 00:13:36,119 --> 00:13:37,890 Suze: and growing and growing. 229 00:13:38,429 --> 00:13:42,510 Suze: Next, you need to have what I call a family agreement, 230 00:13:42,590 --> 00:13:47,309 Suze: a written agreement, where you say how long this is 231 00:13:47,309 --> 00:13:50,109 Suze: going to go on for. They can go on for 232 00:13:50,109 --> 00:13:53,218 Suze: 6 months and then you will review it to see, 233 00:13:53,500 --> 00:13:56,390 Suze: is it working, is it not working, and if it's 234 00:13:56,390 --> 00:14:01,590 Suze: not working for whatever reason, they need to go and 235 00:14:01,590 --> 00:14:05,309 Suze: the agreement needs to say the due date for rent. 236 00:14:05,719 --> 00:14:10,380 Suze: It needs to say the guidelines for cleaning the house, 237 00:14:10,609 --> 00:14:14,390 Suze: the quiet hours, all of those things, cause they can't 238 00:14:14,390 --> 00:14:16,789 Suze: just move in there and expect, Mamma, you're going to 239 00:14:16,789 --> 00:14:22,530 Suze: be their maid. So they have to agree on cleaning, participating, 240 00:14:22,549 --> 00:14:26,590 Suze: and being a part of that household. Those are the 241 00:14:26,590 --> 00:14:29,429 Suze: things that I want you to think about. 242 00:14:30,190 --> 00:14:34,010 Suze: But I just don't have a great feeling about this. 243 00:14:34,090 --> 00:14:37,880 Suze: I know you say that it's going to help you, 244 00:14:38,049 --> 00:14:40,969 Suze: and I'm sure that it will help you, but why 245 00:14:40,969 --> 00:14:43,880 Suze: do I think it's going to cost you more than 246 00:14:43,880 --> 00:14:47,760 Suze: what they're bringing in? A 22 or 23 year old 247 00:14:47,760 --> 00:14:52,520 Suze: boy eats a whole lot of food, Mamma. So again 248 00:14:52,520 --> 00:14:54,770 Suze: they need to be responsible for their food. 249 00:14:55,309 --> 00:14:58,799 Suze: They need to be responsible for an increase in utilities, 250 00:14:59,210 --> 00:15:03,119 Suze: and you need to do a written agreement. Now, I 251 00:15:03,119 --> 00:15:06,530 Suze: will post on the Women and Money community app, 252 00:15:07,380 --> 00:15:11,880 Suze: an outline for the agreement. Use it as a template. 253 00:15:12,010 --> 00:15:15,289 Suze: Just copy it, print it out, put the names and 254 00:15:15,289 --> 00:15:19,280 Suze: everything in it, and that's what I want you to use. 255 00:15:19,530 --> 00:15:23,400 Suze: If they don't want to do it, they say, Mom, really, 256 00:15:23,570 --> 00:15:26,760 Suze: we're trying to buy a house. It's like, give them 257 00:15:26,760 --> 00:15:30,809 Suze: a reality slap, so to speak, because if you don't, 258 00:15:30,849 --> 00:15:35,130 Suze: you are not doing them any favor whatsoever. 259 00:15:35,570 --> 00:15:39,539 Suze: When I was her age, I just have to say I, 260 00:15:39,770 --> 00:15:45,130 Suze: I worked 3 jobs, 3 jobs to make it, and 261 00:15:45,130 --> 00:15:49,929 Suze: I worked every morning, afternoon, and in the evening till 262 00:15:49,929 --> 00:15:54,880 Suze: 2 o'clock in the morning at the Red Lion Deli, KT, 263 00:15:55,330 --> 00:15:59,289 Suze: that's where REO Speedwagon used to play. But yeah, but 264 00:15:59,289 --> 00:16:03,609 Suze: I did everything I could to save money. 265 00:16:03,929 --> 00:16:05,869 Suze: And then when I was 23. 266 00:16:06,710 --> 00:16:12,549 Suze: My brother KT gave me $1500 to buy an old 267 00:16:12,549 --> 00:16:16,789 Suze: Ford Econoline van which my girlfriend and I at the time, 268 00:16:16,909 --> 00:16:21,270 Suze: Laurie Seligman, with $300 to our pocket, went out and 269 00:16:21,270 --> 00:16:24,590 Suze: we lived in that van on the streets of Berkeley, 270 00:16:24,989 --> 00:16:28,989 Suze: California for quite a few months right until I landed 271 00:16:28,989 --> 00:16:32,630 Suze: my dream job, as she did too, waitresses at the 272 00:16:32,630 --> 00:16:33,950 Suze: Buttercup Bakery. 273 00:16:34,390 --> 00:16:38,320 Suze: Right, that is what we did. So, Mamma, I am 274 00:16:38,320 --> 00:16:41,950 Suze: who I am today because I had to make it 275 00:16:41,950 --> 00:16:46,390 Suze: on my own. Please don't try to make it too 276 00:16:46,390 --> 00:16:49,799 Suze: easy on them. I know I went long, KT, but 277 00:16:50,109 --> 00:16:51,309 Suze: I don't have a good feeling. 278 00:16:52,039 --> 00:16:52,299 KT: There's one more thing. 279 00:16:52,390 --> 00:16:55,789 KT: He works construction and it's seasonal. It's part time. Why 280 00:16:55,789 --> 00:16:58,150 KT: can't he do a whole lot of maintenance and repair 281 00:16:58,150 --> 00:17:01,650 KT: work on the house if that's one of his skills. 282 00:17:01,679 --> 00:17:03,929 Suze: And save mamma money. So, we should put that, you 283 00:17:03,929 --> 00:17:05,000 Suze: should make that part of the agreement. 284 00:17:05,000 --> 00:17:06,750 KT: Special skills, 285 00:17:07,260 --> 00:17:09,790 Suze: He's got to help that way around the house and 286 00:17:09,790 --> 00:17:13,468 Suze: then maybe it's worth it, but I don't know. I 287 00:17:13,469 --> 00:17:15,859 Suze: wish it was just your daughter moving in and not 288 00:17:16,109 --> 00:17:17,020 Suze: with her boyfriend. 289 00:17:17,469 --> 00:17:17,829 KT: It' OK. 290 00:17:18,468 --> 00:17:20,649 KT: But I love the idea that you're going to post 291 00:17:20,648 --> 00:17:24,687 KT: that contract or agreement on the site on the wall, 292 00:17:24,769 --> 00:17:27,458 KT: so you just need to download your Women and Money 293 00:17:27,458 --> 00:17:30,889 KT: app wherever you get your apps and look and go 294 00:17:30,888 --> 00:17:34,369 KT: to the wall, and you will see where Suze will 295 00:17:34,369 --> 00:17:40,409 KT: post this agreement. Fabulous. All right, next question. Next question 296 00:17:40,409 --> 00:17:41,889 KT: is from Allie. 297 00:17:42,249 --> 00:17:42,489 Suze: Aren't 298 00:17:42,489 --> 00:17:44,568 Suze: you wondering why I even have that agreement? 299 00:17:45,349 --> 00:17:47,270 KT: No, I think it's important because a lot of people 300 00:17:47,270 --> 00:17:49,790 KT: ask about that. How do they, you know, 301 00:17:49,869 --> 00:17:50,188 Suze: I 302 00:17:50,189 --> 00:17:53,949 Suze: created it years ago when I was seeing clients and 303 00:17:53,949 --> 00:17:56,579 Suze: they always came to me with this question 304 00:17:57,910 --> 00:18:02,430 Suze: and so I created a template to say here. 305 00:18:02,890 --> 00:18:04,790 Suze: Here you go. Deal with it this way. 306 00:18:04,849 --> 00:18:07,169 KT: Good for you and you have it, of course. So 307 00:18:07,170 --> 00:18:11,089 KT: this is from Allie, Suze and crew, she wrote. Suze 308 00:18:11,089 --> 00:18:15,130 KT: and crew, my husband and I are late starters to everything, 309 00:18:15,569 --> 00:18:19,929 KT: especially finances. We didn't purchase our first home until our 310 00:18:19,930 --> 00:18:23,569 KT: late 40s. We have no debt. We have a large 311 00:18:23,569 --> 00:18:24,728 KT: emergency fund. 312 00:18:25,069 --> 00:18:30,459 KT: And we have about 245,000 remaining on our mortgage and 313 00:18:30,459 --> 00:18:37,219 KT: 136,000 in an IRA. He is 65. I am 61. 314 00:18:37,890 --> 00:18:41,699 KT: Between our pensions and Social Security, we will be able 315 00:18:41,699 --> 00:18:45,579 KT: to replace most of our current monthly income with the 316 00:18:45,579 --> 00:18:47,339 KT: exception of one paycheck. 317 00:18:47,689 --> 00:18:54,040 KT: We are considering taking 130,000 out of the IRA. Wait 318 00:18:54,040 --> 00:18:58,180 KT: a minute to put towards the mortgage. We will then 319 00:18:58,180 --> 00:19:01,260 KT: be able to pay off the mortgage in 3 years 320 00:19:01,260 --> 00:19:05,459 KT: and move into retirement completely debt free. 321 00:19:05,949 --> 00:19:10,459 KT: This will free up $1400 a month and almost match 322 00:19:10,829 --> 00:19:15,430 KT: all of our current income. Our thought is IRA will 323 00:19:15,430 --> 00:19:20,188 KT: last approximately 8 to 10 years with a monthly withdrawal 324 00:19:20,189 --> 00:19:25,359 KT: of $1400. Not having a mortgage payment gives us $1400 325 00:19:25,359 --> 00:19:29,188 KT: a month for the rest of our lives, principal and interest. 326 00:19:29,890 --> 00:19:34,410 KT: Not taxes and insurance. Is this a wise course of 327 00:19:34,410 --> 00:19:35,479 KT: action for 328 00:19:35,479 --> 00:19:35,920 KT: us? 329 00:19:36,089 --> 00:19:39,250 Suze: All right, my dear Allie, I have to tell you 330 00:19:39,250 --> 00:19:41,800 Suze: that's the worst idea I've ever heard in my entire life, 331 00:19:42,410 --> 00:19:44,839 Suze: and the reason is this. 332 00:19:45,310 --> 00:19:50,859 Suze: You want to take out $130,000 from an IRA. You 333 00:19:50,859 --> 00:19:54,219 Suze: did not say you want to take out $130,000 from 334 00:19:54,219 --> 00:19:57,650 Suze: a Roth IRA, because if you had, you could take 335 00:19:57,650 --> 00:20:02,260 Suze: out $130,000 totally tax free and put it towards your mortgage. 336 00:20:02,839 --> 00:20:08,250 Suze: But because it's a traditional IRA, you are not calculating 337 00:20:08,250 --> 00:20:13,488 Suze: the taxes, and if you take out $130,000 you're going 338 00:20:13,489 --> 00:20:16,649 Suze: to owe approximately, let's say just you and your husband 339 00:20:16,650 --> 00:20:19,650 Suze: make $60,000 a year. Maybe you make more than that, 340 00:20:19,689 --> 00:20:23,879 Suze: but just let's say that's true. You would owe approximately 341 00:20:23,880 --> 00:20:30,729 Suze: $26,000 in taxes if you file married filling and jointly. OK, 342 00:20:30,839 --> 00:20:31,688 Suze: that's number one. 343 00:20:32,219 --> 00:20:35,859 Suze: At the bottom of your email you say Allie, in 344 00:20:35,859 --> 00:20:37,859 Suze: Virginia Beach, OK. 345 00:20:38,920 --> 00:20:42,718 Suze: Virginia Beach, as you know, has a bracket when it 346 00:20:42,719 --> 00:20:47,000 Suze: comes to income taxes, with the highest one being, I 347 00:20:47,000 --> 00:20:50,188 Suze: think it's 5.5% for state taxes, but. 348 00:20:50,959 --> 00:20:58,680 Suze: On average, you would probably owe Virginia $8500 of income 349 00:20:58,680 --> 00:21:02,599 Suze: tax on that withdrawal. Now, the question is, where are 350 00:21:02,599 --> 00:21:03,760 Suze: you going to get that from? 351 00:21:04,270 --> 00:21:09,989 Suze: Do you have $34,000 sitting on the sideline to pay 352 00:21:09,989 --> 00:21:14,859 Suze: in taxes because you cannot take it from the IRA 353 00:21:14,859 --> 00:21:20,099 Suze: because you want that $130,000 to go towards your mortgage, 354 00:21:20,310 --> 00:21:24,469 Suze: so $34,000 has to be somewhere else. But if you 355 00:21:24,469 --> 00:21:26,239 Suze: don't have that, then you have to. 356 00:21:26,300 --> 00:21:31,420 Suze: Take out even more. It's just nuts. You are far 357 00:21:31,420 --> 00:21:36,449 Suze: better off letting that money sit there. Let it compound, 358 00:21:36,689 --> 00:21:40,239 Suze: invest it wisely. Let it grow and grow and grow. 359 00:21:40,410 --> 00:21:45,089 Suze: It could be worth $200,000 in 7, 8, 9 years 360 00:21:45,410 --> 00:21:48,479 Suze: if you left it there and invested it properly. 361 00:21:49,219 --> 00:21:53,020 Suze: So I wouldn't be doing it on any level you're 362 00:21:53,020 --> 00:21:58,900 Suze: thinking in theory is correct, but in reality it isn't 363 00:21:58,900 --> 00:22:01,250 Suze: how it works. Next question, KT. 364 00:22:01,579 --> 00:22:02,380 KT: OK, next... 365 00:22:02,380 --> 00:22:05,000 Suze: Stop giving me ones that upset me. All right. 366 00:22:05,540 --> 00:22:08,938 KT: So Suze, I have two questions that both pertain to 367 00:22:08,939 --> 00:22:10,099 KT: must have documents. 368 00:22:10,510 --> 00:22:11,500 Suze: Did you all take 369 00:22:11,500 --> 00:22:16,780 Suze: advantage of it, everybody. The birthday gift for $74 for 370 00:22:16,780 --> 00:22:20,310 Suze: those documents. It's over now, but I hope you did. Anyway, go on. 371 00:22:20,500 --> 00:22:24,579 KT: OK, so let's explain to everyone how this works. This 372 00:22:24,579 --> 00:22:27,489 KT: is from Susan. She said, I've had the must have 373 00:22:27,489 --> 00:22:32,619 KT: documents for several years. I would like clarification on your 374 00:22:32,619 --> 00:22:35,500 KT: statement that you can share them with your family. 375 00:22:36,020 --> 00:22:39,339 KT: Does this mean that they can use mine to set 376 00:22:39,339 --> 00:22:43,689 KT: up their own must-have documents, or does this mean they 377 00:22:43,689 --> 00:22:45,510 KT: can see my trust? 378 00:22:45,939 --> 00:22:49,859 Suze: Now, the great thing about the must have documents is 379 00:22:49,859 --> 00:22:53,760 Suze: that all I ever wanted was for one of you 380 00:22:54,020 --> 00:22:58,219 Suze: to take this step forward and buy them to protect 381 00:22:58,219 --> 00:23:02,969 Suze: your family, but we also made it possible for you 382 00:23:03,300 --> 00:23:05,130 Suze: to share with your family. 383 00:23:05,500 --> 00:23:10,050 Suze: Are those that you really love the activation code that 384 00:23:10,050 --> 00:23:14,050 Suze: comes with the must have documents. If you give that 385 00:23:14,050 --> 00:23:19,170 Suze: activation code to somebody when they sign on, they have 386 00:23:19,170 --> 00:23:23,270 Suze: to create their own account, their own password. Everything is 387 00:23:23,270 --> 00:23:27,929 Suze: absolutely private. It just gives them access to the 388 00:23:27,984 --> 00:23:31,416 Suze: program, it does not give them access at all to 389 00:23:31,416 --> 00:23:36,254 Suze: your information what you put in on any level, but 390 00:23:36,255 --> 00:23:39,936 Suze: it was that way that if you bought one, you 391 00:23:39,936 --> 00:23:42,525 Suze: then could help your mother or your father or your 392 00:23:42,526 --> 00:23:47,245 Suze: sister children or whoever you are, you know, so maybe 393 00:23:47,244 --> 00:23:50,336 Suze: your entire nursing home, who knows, but you could have. 394 00:23:50,472 --> 00:23:53,621 Suze: Seriously, I had one person do that, KT, right, but 395 00:23:53,621 --> 00:23:57,531 Suze: the goal is every one of you needs the must 396 00:23:57,531 --> 00:24:02,702 Suze: have documents. That's why I call them must have. Every 397 00:24:02,702 --> 00:24:07,352 Suze: one of you needs a will, a living revocable trust, 398 00:24:07,541 --> 00:24:10,852 Suze: an advanced directive and durable power of attorney for health care, 399 00:24:11,061 --> 00:24:12,851 Suze: and a financial power. 400 00:24:13,430 --> 00:24:18,379 Suze: All of those if you go to must have docs.com 401 00:24:18,790 --> 00:24:23,219 Suze: now that they're off sale, really they're still though a bargain. 402 00:24:23,229 --> 00:24:28,670 Suze: I'm telling you they're $99 and those documents if you 403 00:24:28,670 --> 00:24:30,790 Suze: went to a lawyer to do it would cost you 404 00:24:30,790 --> 00:24:34,229 Suze: $2500 so you can share. 405 00:24:34,314 --> 00:24:37,405 Suze: Share it with people. You can come back and change 406 00:24:37,405 --> 00:24:40,694 Suze: it as often as you want. If we have an upgrade, 407 00:24:40,984 --> 00:24:45,813 Suze: you are upgraded all free because this wasn't about making 408 00:24:45,814 --> 00:24:49,264 Suze: a lot of money. This was about making sure that 409 00:24:49,265 --> 00:24:52,454 Suze: you are protected. All right, KT next. 410 00:24:52,454 --> 00:24:55,385 KT: And in keeping with the same theme. 411 00:24:55,770 --> 00:24:59,949 KT: This is from Elba, she said. Suze, people first, especially daughters. 412 00:25:00,239 --> 00:25:03,630 KT: What can parents do to protect their most precious asset? 413 00:25:03,920 --> 00:25:07,969 KT: What are the must-have documents for 18 year olds? A 414 00:25:07,969 --> 00:25:12,410 KT: health care proxy. Can you talk about this on your podcast? 415 00:25:12,920 --> 00:25:16,040 Suze: You bet I can. And here's what all of you 416 00:25:16,040 --> 00:25:18,910 Suze: need to know that I don't think you know. 417 00:25:19,619 --> 00:25:25,699 Suze: Which is once somebody turns 18 years of age, you 418 00:25:25,699 --> 00:25:30,219 Suze: no longer can legally make decisions for them if your 419 00:25:30,219 --> 00:25:32,619 Suze: daughter ends up in the hospital. 420 00:25:33,390 --> 00:25:35,819 Suze: And let's just say on life support and you want 421 00:25:35,819 --> 00:25:39,449 Suze: to take her off life support, you cannot, you cannot 422 00:25:39,780 --> 00:25:45,089 Suze: make legal decisions for them at all. So to that end, 423 00:25:45,420 --> 00:25:50,660 Suze: obviously one of the most important documents to have for 424 00:25:50,660 --> 00:25:54,300 Suze: yourself is an advanced directive and durable power of attorney 425 00:25:54,300 --> 00:25:58,380 Suze: for health care, but you also need to have it 426 00:25:58,380 --> 00:26:01,459 Suze: for your 18 year olds or older. 427 00:26:01,880 --> 00:26:05,719 Suze: Until they're married and everything and somebody else takes that 428 00:26:05,719 --> 00:26:10,270 Suze: decision away of what to do. So a while ago 429 00:26:11,040 --> 00:26:18,130 Suze: we created what's known as the ultimate protection pack for 18+, 430 00:26:18,880 --> 00:26:22,760 Suze: and it's simply an advance directive and durable power of 431 00:26:22,760 --> 00:26:27,109 Suze: attorney for health care, and this is where your daughter 432 00:26:27,560 --> 00:26:29,359 Suze: has to give you. 433 00:26:30,020 --> 00:26:34,680 Suze: That power to make decisions for her or your son. 434 00:26:34,979 --> 00:26:38,930 Suze: So if you're interested in that, everybody, it's on the 435 00:26:38,930 --> 00:26:42,849 Suze: Women and Money community app, I think it's under Suze Shop. 436 00:26:43,099 --> 00:26:50,300 Suze: You can see it there or if you go to Suzeorman.com/offer. 437 00:26:51,069 --> 00:26:55,669 Suze: You'll see the things that we offer right there, especially 438 00:26:55,670 --> 00:26:58,310 Suze: if you don't have the app. And by the way, 439 00:26:58,459 --> 00:27:01,630 Suze: while I'm talking about this, some of you wrote me 440 00:27:01,630 --> 00:27:05,270 Suze: and said that you want to buy the Ultimate Retirement 441 00:27:05,270 --> 00:27:09,790 Suze: Guide for 50+ the updated version in soft back, but 442 00:27:09,790 --> 00:27:13,189 Suze: when we brought it out in hardback, you offered it 443 00:27:13,189 --> 00:27:17,819 Suze: for $10 free shipping, and now when they go to Amazon, 444 00:27:18,349 --> 00:27:20,790 Suze: it's like $16 plus shipping. 445 00:27:21,130 --> 00:27:26,819 Suze: So if you go to Suzeorman.com/offer, you will see the 446 00:27:26,819 --> 00:27:31,198 Suze: soft back there for $10 free shipping as well as 447 00:27:31,199 --> 00:27:35,280 Suze: on the Women and Money community app where it says shop. 448 00:27:35,489 --> 00:27:38,930 Suze: So do that. So my dear Elba. 449 00:27:39,500 --> 00:27:44,389 Suze: You should go and get that immediately and have your 450 00:27:44,390 --> 00:27:49,099 Suze: daughter sign it over for you to make decisions. All right, 451 00:27:49,550 --> 00:27:53,189 Suze: by the way, everybody, I think it's only $38. It's 452 00:27:53,189 --> 00:27:55,229 Suze: not going to break the bank. All right, it's something like that. 453 00:27:55,229 --> 00:27:57,188 KT: It's great if you have kids in school. 454 00:27:57,189 --> 00:27:59,869 Suze: And you know by the way, that's Suze 455 00:28:00,015 --> 00:28:03,083 Suze: Shareware as well. If you have 3 kids, you have 456 00:28:03,084 --> 00:28:07,045 Suze: 10 kids, you can use it for all of them. Oh, 457 00:28:07,165 --> 00:28:10,125 Suze: your sister has kids. You can then take it, give 458 00:28:10,125 --> 00:28:13,435 Suze: her the activation code, and she could do all her kids. 459 00:28:13,685 --> 00:28:18,114 Suze: So again, everything I do is Suze Shareware. All right, 460 00:28:18,385 --> 00:28:22,994 KT: All right. This question is from Sean. And Sean said, Hello, Suze, 461 00:28:23,444 --> 00:28:25,035 KT: short and to the point. 462 00:28:25,400 --> 00:28:30,510 KT: How does retirement affect your FICO? I retired five years ago, 463 00:28:30,579 --> 00:28:37,310 KT: and I've maintained my FICO to be between 821 and 850. However, 464 00:28:37,640 --> 00:28:41,439 KT: I also have not applied for new credit. Now that 465 00:28:41,439 --> 00:28:44,589 KT: I have no income, if I need a new car, 466 00:28:44,839 --> 00:28:47,560 KT: is it best to put it solely in my husband's 467 00:28:47,560 --> 00:28:50,319 KT: name since I have zero income? 468 00:28:50,790 --> 00:28:53,859 KT: I just wanted to assure I don't lose that score. 469 00:28:53,910 --> 00:28:57,300 KT: I'm proud of it. Long time follower. 470 00:28:58,069 --> 00:29:00,959 Suze: So what's sweet is that, I love that you have 471 00:29:00,959 --> 00:29:04,780 Suze: a great FICO score, Sean, but nobody's going to lend 472 00:29:04,780 --> 00:29:08,819 Suze: you money simply because you have a great FICO score. 473 00:29:09,069 --> 00:29:11,150 Suze: What they want to see is that do you have 474 00:29:11,150 --> 00:29:15,949 Suze: the income to pay them back? So yes, you should 475 00:29:15,949 --> 00:29:17,949 Suze: put it into your husband's name. 476 00:29:18,780 --> 00:29:21,790 Suze: Um, because he has income, just that simple. 477 00:29:22,020 --> 00:29:25,979 KT: All right, my final question, Suze, is from Marie. She said, 478 00:29:26,099 --> 00:29:29,619 KT: Dear Suze, my house is on the market, and once 479 00:29:29,619 --> 00:29:32,979 KT: it is sold, I need to send the money overseas 480 00:29:32,979 --> 00:29:37,969 KT: to Belgium. I would like to leave America and return home. 481 00:29:38,579 --> 00:29:41,239 KT: She wrote 30 years, so I think she's ready to 482 00:29:41,239 --> 00:29:42,900 KT: go back, yeah. 483 00:29:43,219 --> 00:29:46,410 KT: I am with a credit union here in Florida. I 484 00:29:46,410 --> 00:29:49,750 KT: hear terrible stories of losing so much money to the 485 00:29:49,750 --> 00:29:55,250 KT: exchange rate, US dollars to euros. Question, what is the 486 00:29:55,250 --> 00:29:58,770 KT: most economical way to do this transaction? 487 00:29:59,020 --> 00:30:02,810 KT: I am 69 years old. This is all the money 488 00:30:02,810 --> 00:30:07,280 KT: I will have. I have a dual citizenship US and Belgium. 489 00:30:07,489 --> 00:30:08,010 KT: Thank you. 490 00:30:08,729 --> 00:30:13,520 Suze: It's sad because right now the euro to the dollar 491 00:30:13,520 --> 00:30:15,760 Suze: is up 15% 492 00:30:16,204 --> 00:30:19,724 Suze: from just a little bit ago, so you're going to 493 00:30:19,724 --> 00:30:24,994 Suze: lose at least 15 or 16% now. So that's a 494 00:30:24,994 --> 00:30:28,704 Suze: big deal. I wish you had done this just maybe 495 00:30:28,704 --> 00:30:32,484 Suze: quite a few months ago. When were we in Spain, KT? 496 00:30:32,880 --> 00:30:34,859 KT: Um, about 6-7 months ago... 497 00:30:34,859 --> 00:30:39,359 Suze: Right there, so it went from 110 down to $102. 498 00:30:39,619 --> 00:30:41,109 Suze: So if you had done it then, you would have 499 00:30:41,109 --> 00:30:44,459 Suze: been at almost parity, which for every $1 you converted, 500 00:30:44,540 --> 00:30:48,930 Suze: you got almost $1. But now for every dollar you convert, 501 00:30:49,180 --> 00:30:52,449 Suze: you're going to get only about 85 cents on the dollar. 502 00:30:52,670 --> 00:30:55,380 Suze: So I'll tell you what I do. 503 00:30:55,810 --> 00:31:00,640 Suze: All right, I happen to use a company called Revolut, 504 00:31:00,930 --> 00:31:05,329 Suze: R E V O L U T, and I have 505 00:31:05,329 --> 00:31:09,810 Suze: to tell you they offer, in my opinion, a competitive 506 00:31:09,810 --> 00:31:14,959 Suze: rate when it comes to exchanges and pretty much low fees, 507 00:31:15,209 --> 00:31:16,849 Suze: so I do that. 508 00:31:17,290 --> 00:31:21,209 Suze: Also, however, for large amounts of money, I want you 509 00:31:21,209 --> 00:31:26,290 Suze: to look into a company called Wise W I S E, before, 510 00:31:26,369 --> 00:31:31,130 Suze: I think they were called TransferWise, but Wise is widely 511 00:31:31,130 --> 00:31:36,170 Suze: recommended just so you know for large international transfers because 512 00:31:36,170 --> 00:31:41,079 Suze: it uses what's called the real mid-market exchange rate, which is. 513 00:31:41,214 --> 00:31:44,525 Suze: Totally transparent and they have a low fee, so that 514 00:31:44,525 --> 00:31:48,125 Suze: means you get more money for your euros to your 515 00:31:48,125 --> 00:31:53,405 Suze: dollars than most banks, credit unions, or wire services. So 516 00:31:53,405 --> 00:31:57,444 Suze: look into those two things and maybe you should wait 517 00:31:57,444 --> 00:32:02,194 Suze: just a little bit to see if our dollar gets stronger, 518 00:32:02,405 --> 00:32:06,114 Suze: which it should be right now, but it's not, which 519 00:32:06,114 --> 00:32:10,005 Suze: is not a good thing. All right, everybody, KT, that's it. 520 00:32:10,599 --> 00:32:11,270 Suze: That's a wrap. 521 00:32:11,319 --> 00:32:12,010 KT: That's a wrap. 522 00:32:12,280 --> 00:32:15,400 Suze: So everybody, there's one more thing I do want to 523 00:32:15,400 --> 00:32:18,430 Suze: tell you that I want you to do, and that's 524 00:32:18,430 --> 00:32:21,680 Suze: I want you to start going to my YouTube, the 525 00:32:21,680 --> 00:32:27,160 Suze: official Suze Orman YouTube channel. I'm starting to post videos 526 00:32:27,160 --> 00:32:28,030 Suze: again there. 527 00:32:28,459 --> 00:32:31,229 Suze: So, and I want you to look at them. You 528 00:32:31,229 --> 00:32:39,069 Suze: would go to youtube.com/@ Suze Orman. Just go there and 529 00:32:39,069 --> 00:32:41,949 Suze: give it a try. All right, everybody, and by the way, 530 00:32:42,030 --> 00:32:45,719 Suze: while you're there, make sure you subscribe and don't forget 531 00:32:45,719 --> 00:32:49,189 Suze: to click on that little bell so every time I 532 00:32:49,189 --> 00:32:49,650 Suze: post something, 533 00:32:49,729 --> 00:32:55,310 Suze: you get notified. So until Sunday I have no idea 534 00:32:55,310 --> 00:32:57,339 Suze: what I'm going to do for Suze School. Let's see 535 00:32:57,339 --> 00:33:02,209 Suze: what happens to this world, right? So anyway, there's only 536 00:33:02,209 --> 00:33:04,819 Suze: one thing we want them to know and what is it, KT? 537 00:33:04,959 --> 00:33:05,939 KT: People first. 538 00:33:06,020 --> 00:33:06,609 Suze: Then money. 539 00:33:06,739 --> 00:33:07,380 KT: Then things. 540 00:33:07,500 --> 00:33:10,020 Suze: Now you stay safe. Bye bye.