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Is It Ok To Be Naughty With Your Money? · Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

• 0:08
  Suze: June 18th, 2026. Welcome everybody to the Women and Money
• 0:13
  Suze: podcast and everybody smart enough to listen. Today is the
• 0:17
  Suze: Ask KT and Suze Anything edition. But before we begin, KT,
• 0:23
  Suze: just wait, wait one second, I'll get to you in
• 0:24
  Suze: one second. I need to remind you of something that's very,
• 0:28
  Suze: very important.
• 0:30
  Suze: Remember, June 21st, just a few days from now, is
• 0:35
  Suze: the very last day that you can get the Must-Have
• 0:38
  Suze: Documents for $99. On June 22nd, they go up to $153.
• 0:49
  Suze: So if there was ever a time now, if you
• 0:51
  Suze: missed the birthday pricing.
• 0:53
  Suze: That you still want to do it, or you've been
• 0:55
  Suze: thinking about doing it, now is the time. Go to Musthavedocs.com.
• 1:01
  Suze: You can also go to SuzeOrman.com and click it there.
• 1:05
  Suze: But if you're gonna do it, now is the time. Remember,
• 1:09
  Suze: June 22nd, they go up to $153.
• 1:16
  Suze: Now, KT. Tell everybody what happened this week when you went
• 1:20
  Suze: into Costco.
• 1:21
  KT: I had to go to Costco to renew my membership,
• 1:25
  KT: and Suze's in the car with me. I said, Suze,
• 1:27
  KT: why don't you come in? It's fun to walk around
• 1:28
  KT: and look at things.
• 1:30
  Suze: I don't think so.
• 1:31
  KT: And she said, No, no, no, you go. And she said,
• 1:33
  KT: Bring me something fun. And I said, OK. So I
• 1:38
  KT: did something which I thought she would either get really
• 1:42
  KT: mad or really happy.
• 1:45
  KT: I have to tell you all she was over the
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  KT: moon happy.
• 1:49
  Suze: Now can you all imagine what is it that she
• 1:53
  Suze: would have brought me that made me so happy I
• 1:56
  Suze: can't even tell you. Can you think about it? Think
• 1:59
  Suze: for a second. Costco, think about it. Cost $3. Think
• 2:03
  Suze: about it. All right, KT.
• 2:04
  KT: No, $1.50.
• 2:05
  Suze: But you got me two.
• 2:07
  KT: OK. I renewed my card and I bought some fruit,
• 2:10
  KT: and I'm leaving.
• 2:11
  KT: And I have this huge cart that's empty and it
• 2:14
  KT: wasn't busy and I walked by the little food stand.
• 2:17
  KT: I have never in my life ordered anything from that
• 2:21
  KT: food stand. I didn't even know how to do it
• 2:23
  KT: and I said, I'm gonna bring her a hot dog,
• 2:26
  KT: a Costco hot dog and a Diet Coke, so it's
• 2:29
  KT: $1.50 and I, I go up to, I said to
• 2:33
  KT: the ladies, how do I do this? And they said,
• 2:35
  KT: they pointed to the kiosk.
• 2:37
  KT: So I went to this kiosk, I pressed the menu,
• 2:40
  KT: I see the hot dog, I pressed the button and
• 2:43
  KT: two pictures came up. So I said, all right, and
• 2:47
  KT: I press it like finished my order.
• 2:50
  KT: And it was $3 and I said, no, no, no,
• 2:52
  KT: this is $1.50. Long story short, I pressed the wrong button.
• 2:56
  KT: I got two hot dogs, two Diet Cokes, and brought
• 3:00
  KT: them to Suze in the car and she thought she
• 3:02
  KT: died and went to heaven.
• 3:04
  Suze: But what all of you have to understand is this
• 3:07
  Suze: health person here loves hot dogs, and I have not
• 3:12
  Suze: had a hot dog in...
• 3:13
  KT: In 10 years, way over 10 years, maybe 20 years.
• 3:16
  Suze: A long, long time.
• 3:20
  Suze: And I was so happy I couldn't stand it.
• 3:22
  KT: She ate both of 'em.
• 3:23
  Suze: Now here's what else. I normally stay away from gluten,
• 3:27
  Suze: and guess what?
• 3:28
  KT: She ate the bun.
• 3:29
  Suze: I ate the bun and guess what? I always stay away
• 3:32
  Suze: usually from Diet Coke.
• 3:33
  KT: Drank it, the whole thing.
• 3:35
  Suze: I was so happy. Oh my God.
• 3:37
  KT: She was on the biggest she thought it was July 4th,
• 3:41
  KT: but
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  Suze: KT, what, what do you think the point of that
• 3:44
  Suze: story is for somebody who's so strict? I am so
• 3:48
  Suze: strict about everything.
• 3:49
  KT: Discipline.
• 3:50
  Suze: I'm so disciplined. I'm don't do this. I don't do
• 3:53
  Suze: that when it comes to eating, but yet...
• 3:55
  KT: Sometimes it's fun to be naughty.
• 3:58
  Suze: So maybe that's true with money as well. Maybe just
• 4:02
  Suze: not all the time, but just once. Now chances of
• 4:04
  Suze: me doing that again for another 10 years, even though
• 4:08
  Suze: today I wish I could do it again, are nil,
• 4:10
  Suze: but it was fun anyway. What you got for me, girlfriend?
• 4:14
  KT: Ok, this first one, this is, it's also the month
• 4:16
  KT: of June, which is Pride Month. So I wanna start
• 4:21
  KT: today with a pride email. I love this.
• 4:24
  KT: This is from Larry and Bob, and the subject says
• 4:27
  KT: we're married, and they said, Dear Suze and KT, I
• 4:32
  KT: wrote you and you personally answered. I loved that. So
• 4:37
  KT: just one week after your 75th birthday on June 12th,
• 4:42
  KT: me and Bob got married. Yes, Suze, after 37 years together.
• 4:50
  KT: Yes, indeed. After drawing up our wills and trusts, it
• 4:54
  KT: all happened. There are benefits to being married, Suze, like
• 4:58
  KT: you've always told us. I cannot tell you how long
• 5:03
  KT: I've been listening to you... since 2003.
• 5:07
  KT: You've helped me build up my savings account. I turned
• 5:11
  KT: 66 at the end of June, and Bob is now 76.
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  KT: Much happiness to you and KT, whom you adore, and
• 5:20
  KT: we adore you both. Much love, Larry and Bob.
• 5:26
  Suze: Larry and Bob, we wish you a very...
• 5:28
  KT: Very happy marriage!
• 5:30
  Suze: Happy life together, and I just have to say this
• 5:33
  Suze: is that for those of you out there,
• 5:37
  Suze: who have the ability to get married. This is Pride Month.
• 5:42
  Suze: This is the time that you should be proud, hopefully.
• 5:45
  Suze: I've always been proud that I'm a lesbian. However, many
• 5:49
  Suze: of you out there think, Oh, it's all right. I
• 5:52
  Suze: don't need to get married. It's not a big deal.
• 5:54
  Suze: Don't think rights can't be taken away. They most certainly can.
• 5:59
  Suze: And if you think that there aren't incredible rights to
• 6:02
  Suze: being married, I'm telling you you are wrong. There's like
• 6:05
  Suze: 1,100 financial advantages, yeah, so don't take this for granted, everybody.
• 6:13
  Suze: If you've been together, especially for 20 or 30 years,
• 6:16
  Suze: what are you waiting for? But, I know this whole
• 6:20
  Suze: podcast is gonna be you and me. You know what
• 6:22
  Suze: I realized? He got married on June 12th.
• 6:26
  Suze: Right, I forgot to write Kai, Karen Eckhammer, happy birthday.
• 6:30
  KT: Is that her birthday?
• 6:31
  Suze: It was her birthday, one of my oldest friends...
• 6:33
  KT: Kai, happy birthday.
• 6:35
  Suze: Kai. I am so sorry.
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  KT: Forgive her, forgive her, forgive her.
• 6:39
  KT: Sorry. Oh my God. All right, that's what I was
• 6:41
  KT: thinking the whole time you were reading that like. How
• 6:44
  KT: could I forget?
• 6:44
  KT: Oh my goodness.
• 6:45
  Suze: That's what happens when you're 75, Kai. Anyway, KT, let's
• 6:48
  Suze: get to money.
• 6:49
  KT: OK, Suze, this first question is from Elizabeth. She said,
• 6:53
  KT: Dear Suze, I'm 78 years old, retired from my job
• 6:57
  KT: in May 2025, and find myself unexpectedly with money I
• 7:02
  KT: think I should invest.
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  KT: There's a TV ad for one of the wealth management
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  KT: companies in which the potential client says all my money
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  KT: is in checking, which I laughed at when I first
• 7:14
  KT: heard it, and then I realized that describes me. Currently
• 7:20
  KT: I receive about $9,000 a month from my Social Security
• 7:24
  KT: plus a pension. Last December, sadly, one of my two
• 7:29
  KT: daughters passed.
• 7:30
  KT: I received $40,000 from her life insurance. My surviving daughter
• 7:36
  KT: has a disability though, and while she receives SSD, she
• 7:41
  KT: has a part-time job, a car, and a subsidized apartment.
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  KT: At some point she won't have me to fall back on.
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  KT: I only have $111,000 in savings.
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  KT: But no major debt or anything other than a mortgage
• 7:59
  KT: on one of the two properties I own. So right
• 8:02
  KT: now I think I have enough to invest, but no
• 8:05
  KT: idea where to start. My question is, if you were me, Suze,
• 8:09
  KT: what would you do? I know I'm late to the party,
• 8:12
  KT: but I think you've said it's never too late to start,
• 8:16
  KT: and I'm desperate for advice.
• 8:19
  Suze: Oh, girlfriend.
• 8:20
  Suze: First of all, at 78, three years older than me,
• 8:24
  Suze: you bet it's not too late for the party, party, party.
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  Suze: So here's what I want to say to you, Liz,
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  Suze: which is this you say only $111,000 only $111,000 would
• 8:41
  Suze: not be enough if you didn't have $9,000 a month
• 8:46
  Suze: in a pension. Now, obviously,
• 8:48
  Suze: the pension and Social Security goes away most likely upon
• 8:52
  Suze: your death. So now your concern is, what else do
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  Suze: you have for your daughter? Well, you just said you
• 8:59
  Suze: own two pieces of real estate. Now, I don't know
• 9:03
  Suze: what that real estate is worth.
• 9:05
  Suze: However, it is 2026. Don't tell me that it's not
• 9:10
  Suze: worth probably a whole lot of money, and you are
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  Suze: thinking about selling one which will then probably give you
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  Suze: maybe half a million, three quarters of a million dollars to do something with.
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  Suze: While it's true you could invest it, while it's true
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  Suze: you could do all these things, we don't know when
• 9:31
  Suze: your time
• 9:32
  Suze: will come and what do I mean by that? When
• 9:35
  Suze: you will no longer be here.
• 9:37
  Suze: At that point you don't want to, in my opinion,
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  Suze: pass the burden of investments down to your daughter who
• 9:47
  Suze: may or may not be able to handle them. So therefore,
• 9:52
  Suze: what I would suggest, believe it or not, is to
• 9:54
  Suze: keep everything very, very simple for her.
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  Suze: So meaning, put some of the money in treasuries, puts
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  Suze: it somewhere like CDs that will earn interest for her,
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  Suze: and that it's simple, and it won't go up, it
• 10:09
  Suze: won't go down, she'll be able to at least handle it. Now,
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  Suze: I get that you think that the idea is, you know,
• 10:16
  Suze: you got to make it grow and grow and grow.
• 10:18
  Suze: Listen, maybe if you end up selling those two pieces
• 10:21
  Suze: of property, especially after you're gone, maybe now she has
• 10:25
  Suze: one million or something, because remember, she's gonna get a
• 10:29
  Suze: step up in basis on those assets, real estate, when
• 10:34
  Suze: you die, so she's not gonna owe any taxes on that.
• 10:37
  Suze: Make sure you yourself have a living revocable trust, actually
• 10:41
  Suze: the must have documents you should absolutely have those and
• 10:47
  Suze: in your situation right now, let's just keep everything safe
• 10:52
  Suze: and sound for now. Maybe we'll change that later on,
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  Suze: but for now...
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  Suze: Treasuries, CDs, money market accounts, can you just keep everything safe?
• 11:06
  Suze: All right, next question, KT.
• 11:08
  KT: Next is from Erin. She said, Hi, Suze and KT.
• 11:11
  KT: After watching, reading, and listening to you for many years,
• 11:16
  KT: I was fortunate enough to retire after 38 years. Suze,
• 11:22
  KT: I was able to accumulate $3 million in my IRAs
• 11:26
  KT: and Roths.
• 11:27
  KT: I would like to invest in FITZ and CVX, in
• 11:33
  KT: Chevron right, in my Fidelity account, but not sure if
• 11:36
  KT: it makes sense to pull extra money from my managed
• 11:40
  KT: IRA distribution, get taxed, invest it, and then when I
• 11:45
  KT: sell a stock, pay long term capital gains. Am I
• 11:49
  KT: robbing Peter to pay Paul?
• 11:51
  KT: I'm happy with how my financial advisor is investing my money.
• 11:56
  KT: I just like to invest on my own as a hobby.
• 11:59
  KT: I only withdraw enough money from my IRA for my
• 12:03
  KT: expenses each month, nothing extra. Does it make sense to
• 12:07
  KT: pull a little extra to invest for fun?
• 12:12
  KT: I don't know. What do you think, Suze?
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  Suze: Oh boy...
• 12:14
  KT: You had a hot dog. Should she invest for fun?
• 12:17
  Suze: Here's the thing, Erin. You say that you have some
• 12:20
  Suze: money in a Roth IRA.
• 12:25
  Suze: There's no reason why you shouldn't ask your adviser, who you like. I
• 12:28
  Suze: love that you like him or her. They're making good
• 12:31
  Suze: money for you. Fabulous. But why not ask the adviser
• 12:35
  Suze: to set up another Roth IRA for you that has
• 12:40
  Suze: the amount of money that you want in it that
• 12:42
  Suze: you think you would like to invest on your own
• 12:45
  Suze: for fun.
• 12:46
  Suze: That way you don't owe any taxes on it. You
• 12:50
  Suze: can withdraw it when you want, the whole thing that
• 12:53
  Suze: just know that. And then it's not like you're robbing
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  Suze: Peter to pay Paul. I would not be taking extra
• 13:00
  Suze: money out of the traditional IRAs where you do have
• 13:04
  Suze: to pay taxes on it and then invest it outside
• 13:07
  Suze: of the retirement account. Invest it in the Roth. Bottom line:
• 13:13
  Suze: Have your advisor set up another Roth IRA for you,
• 13:17
  Suze: separate from the money that he or she is managing,
• 13:20
  Suze: put the amount in it that you want to have
• 13:22
  Suze: fun with and invest it however you want. By dollar
• 13:27
  Suze: cost averaging though, just know that. All right, KT.
• 13:30
  KT: OK, this is from Stephanie. She said, hello, Suze. I love...
• 13:34
  Suze: How old is this one, KT?
• 13:35
  KT: Oh, she's 70 years old.
• 13:37
  Suze: The reason I asked, I love that we're dealing with
• 13:40
  Suze: older women and men. I just love it so much
• 13:42
  Suze: I can't stand it. All right, go on.
• 13:45
  KT: She said, Stephanie said, Hi Suze. I live in Washington
• 13:49
  KT: state and own a duplex in Michigan. Due to impending
• 13:53
  KT: high cost to replacing the HVACs for both units and
• 13:58
  KT: the challenge of being so far away, I've decided to sell.
• 14:03
  KT: If my current living situation here in Washington should no
• 14:06
  KT: longer be available or if my health took a turn
• 14:10
  KT: for the worse, I would have no home in which
• 14:13
  KT: to live.
• 14:14
  KT: Should I return to Michigan because the rents are so
• 14:17
  KT: high nowadays I'm not sure I could afford an apartment.
• 14:21
  Suze: So what she's saying is she currently rents in Washington,
• 14:25
  Suze: and her costs in Michigan have gone up, so she's
• 14:30
  Suze: thinking about selling her home in Michigan, staying in Washington
• 14:34
  Suze: and renting, but if everything goes higher for her, the rents,
• 14:39
  Suze: she doesn't have a home to go back to in Michigan.
• 14:42
  KT: Yes, so what should she do?
• 14:45
  Suze: I have no idea.
• 14:48
  Suze: Well, I'll tell you why, because if she could get
• 14:51
  Suze: a whole lot of money for those homes or those...
• 14:55
  Suze: duplex in Michigan.
• 14:58
  Suze: And it just depends on her tax situation there. Like,
• 15:03
  Suze: has she lived in it as her primary residency for
• 15:05
  Suze: two out of the past five years? Would she not
• 15:08
  Suze: owe any capital gains tax on it? All of that.
• 15:13
  Suze: And if she could pocket all of that money, have
• 15:16
  Suze: no expenses, and then invest it and get 3, 4, 5%
• 15:23
  Suze: on it and possibly have it grow.
• 15:26
  Suze: That that would then subsidize possibly her rent in Washington
• 15:32
  Suze: and obviously she likes Washington better than Michigan so I
• 15:38
  Suze: still don't know what you should do except seriously, Steph,
• 15:41
  Suze: here's the thing.
• 15:43
  Suze: You only get to eat a hot dog every once
• 15:45
  Suze: in a while, and maybe renting in Washington is your
• 15:50
  Suze: hot dog that you enjoy every single day. It's your home,
• 15:56
  Suze: maybe it's where your friends are, yes, you rent, but listen...
• 16:01
  Suze: Why don't you sell Michigan? Take advantage of the taxes
• 16:06
  Suze: right now, because I have a feeling you won't owe
• 16:09
  Suze: any capital gains. Interest rates are still relatively high. Invest
• 16:14
  Suze: that money and just see what happens day to day.
• 16:19
  Suze: I always say you never ask a question that you
• 16:22
  Suze: don't really know the answer to.
• 16:25
  Suze: So if moving back to Michigan now would make you
• 16:28
  Suze: feel more secure, then go for it.
• 16:32
  Suze: However, you may decide that that's not really what you
• 16:37
  Suze: want to do. So again, I don't know what to
• 16:39
  Suze: tell you.
• 16:40
  Suze: What would you do seriously, KT, if you were her?
• 16:43
  KT: Sell in Michigan. It's too cold anyway in the winter.
• 16:46
  KT: Stay in Washington. She lives there. There's a reason you're
• 16:50
  KT: living there now,
• 16:51
  Suze: Washington State.
• 16:52
  KT: and don't worry about it.
• 16:53
  Suze: Yeah, all right. Well, all right, there you go. I
• 16:56
  Suze: would sell in Michigan. I have to tell you, KT, though,
• 16:59
  Suze: there's one more thing I wanna say about this, right,
• 17:02
  Suze: as Stephanie gets older and she mentions what happens if
• 17:06
  Suze: she has a health problem or something like that.
• 17:09
  Suze: I don't know if her place in Michigan has stairs
• 17:13
  Suze: or whatever, or is she going to need assisted living
• 17:16
  Suze: or whatever. So I'm gonna stick to the thing right now.
• 17:19
  Suze: Sell now, Steph.
• 17:21
  Suze: Invest that money. Keep it safe and sound, and if
• 17:25
  Suze: it comes that you can't afford rent or anything anymore,
• 17:29
  Suze: then guess what? You could move anywhere, but now you
• 17:32
  Suze: have money to move into an assisted living facility or
• 17:36
  Suze: somewhere so you can be taken care of. All right, KT.
• 17:40
  KT: OK, this next one is from Sandra who also lives
• 17:44
  KT: in Michigan.
• 17:46
  KT: She said, I'm 80 years old and my husband passed
• 17:48
  KT: four months ago. We're sorry, Sandra, she said. My question is,
• 17:53
  KT: I had to sell my house and move into assisted living.
• 17:57
  Suze: Well, there you go. Did you just hear that, Stephanie?
• 17:59
  KT: And she's from Michigan.
• 18:01
  Suze: Did you hear that? It happens.
• 18:03
  KT: I'll be making a profit of around $300,000. My question is,
• 18:09
  KT: how can I put my money in a safe place
• 18:11
  KT: that the IRS won't take my money.
• 18:14
  KT: We will be using some of the money to pay
• 18:17
  KT: for my assisted living. I'm getting nervous. My daughter is
• 18:21
  KT: in my trust and is on my bank account. We
• 18:25
  KT: have lived in our home for 43 years. So again,
• 18:29
  KT: here's a situation, Suze, where Sandra. you know, had to
• 18:33
  KT: make a decision, and she did, and she said she's
• 18:36
  KT: getting nervous.
• 18:38
  Suze: You know, I don't, I'll answer Sandra in a second.
• 18:41
  Suze: Another thing, Stephanie, because you're making me think about my
• 18:43
  Suze: mama who lived in Chicago, and she needed to, as
• 18:48
  Suze: she got older, to move from Chicago because it was
• 18:52
  Suze: too cold.
• 18:54
  Suze: So think about it. There's a big difference between the
• 18:57
  Suze: weather in Washington State and Michigan now on to Sandra. Boy,
• 19:03
  Suze: Stephanie got in my head, didn't she?
• 19:04
  KT: She did.
• 19:05
  Suze: She did. All right, Sandra, my little 80 year old, listen,
• 19:11
  Suze: you've moved into an assisted living facility.
• 19:14
  Suze: And you have about $300,000 and your question is how
• 19:19
  Suze: can I put my money in a safe place that
• 19:22
  Suze: the IRS won't take my money? How does the IRS
• 19:26
  Suze: take your money? It takes your money in two ways.
• 19:31
  Suze: It takes it with a federal tax, and Michigan takes
• 19:35
  Suze: it with a state income tax on all levels of
• 19:39
  Suze: about 4.25%. I believe that is correct.
• 19:44
  Suze: Therefore, the interest on $300,000 let's say you put that
• 19:49
  Suze: into United States Treasury bills, notes, maybe a bond, so
• 19:55
  Suze: that you have access to that money or a Treasury
• 19:59
  Suze: money market account, you won't have to pay any tax
• 20:03
  Suze: on that in the state of Michigan.
• 20:07
  Suze: So you would only be paying federal income tax. Now,
• 20:11
  Suze: I don't know if you have a pension, what your
• 20:14
  Suze: Social Security is, or anything like that, but that would
• 20:18
  Suze: be the best way to alleviate for a quarter percent that the
• 20:23
  Suze: government in Michigan will be taking from you. When you
• 20:28
  Suze: say that you're nervous,
• 20:30
  Suze: the way that you stop being nervous is to sit
• 20:34
  Suze: down seriously and figure out what does it cost you
• 20:39
  Suze: to be in the living facility per month, what is
• 20:44
  Suze: your income after taxes, all sources of your income.
• 20:48
  Suze: What kind of interest rate can you get on that
• 20:51
  Suze: 300,000 and do you have enough money to last you
• 20:56
  Suze: for x amount of years, even if that means that
• 20:59
  Suze: you're going into your principal? So the reason that you're
• 21:03
  Suze: nervous is that you don't know the answers to those questions.
• 21:07
  Suze: As soon as you know the answers to those questions,
• 21:11
  Suze: then you'll be able to make a plan and see
• 21:14
  Suze: how long this money will last you.
• 21:17
  Suze: And given that you're 80 right now, you never know.
• 21:20
  Suze: Most likely it will last you the rest of your life. So,
• 21:25
  Suze: you're nervous because you don't know the answers to those questions.
• 21:28
  Suze: My advice is find out the answers to those questions,
• 21:33
  Suze: have your daughter help you with this, because the two
• 21:36
  Suze: of you are a team now, and when a mother
• 21:39
  Suze: and a daughter team up, that is a winning team, KT.
• 21:44
  KT: I was gonna say that's unstoppable. All right, next question
• 21:48
  KT: is from David. I like this question. Hi Suze. I
• 21:52
  KT: hear a lot of media chatter about the SpaceX IPO
• 21:56
  KT: being overvalued. I saw that it is being fast tracked
• 22:00
  KT: to become part of VTI, which I've invested in through
• 22:04
  KT: my Roth IRA.
• 22:06
  KT: My work 403B and taxable brokerage account includes S&P 500
• 22:13
  KT: index funds, and I see that it will be a
• 22:16
  KT: while before SpaceX enters those.
• 22:20
  KT: I'm not invested in individual stocks in any format. Is
• 22:24
  KT: there any way to predict how much of VTI will
• 22:29
  KT: become SpaceX based on how the IPO was done?
• 22:34
  Suze: Good question, David. First of all, SpaceX will become part
• 22:40
  Suze: of VTI, the Vanguard Total Stock Market Index ETF, on
• 22:45
  Suze: June 19th, and it'll be approximately 0.12% of VTI, very
• 22:53
  Suze: small amount, just so you know. In terms of VOO,
• 22:58
  Suze: Standard and Poor's, anything like that, it's not going to
• 23:02
  Suze: be till mid '27,
• 23:04
  Suze: 2027, until they add it to the Standard and Poor's
• 23:09
  Suze: 500 index. They were trying to fast track it and
• 23:12
  Suze: it did not do so.
• 23:15
  Suze: Another way to possibly do it would be through QQQ.
• 23:19
  Suze: They're gonna add SpaceX to that on July 6th. ARK
• 23:23
  Suze: already ARKK already bought it. It's at 3.2% of their portfolio,
• 23:30
  Suze: but here is the bottom line.
• 23:33
  Suze: If you want to buy SpaceX, the best way to
• 23:37
  Suze: do it is absolutely how? By dollar cost averaging into
• 23:42
  Suze: the individual stock itself. Symbol is SPCX, and it's around
• 23:49
  Suze: $200 it goes up, it goes down, it's right in
• 23:52
  Suze: there somewhere. However, what you should know is that you
• 23:57
  Suze: could dollar cost average every month.
• 24:00
  Suze: Take an amount of money $50, $100. Dollar cost average
• 24:06
  Suze: into it and let's see what happens. I have no
• 24:09
  Suze: doubt that it will go up, it will go down,
• 24:11
  Suze: and it's something if you want to invest in you
• 24:14
  Suze: absolutely should remember, not profitable yet.
• 24:19
  Suze: Probably SpaceX will very shortly acquire everything, Tesla, everything that
• 24:25
  Suze: they own. So, eventually, it should be OK. A lot
• 24:28
  Suze: of people love it, a lot of people hate it.
• 24:31
  Suze: You're gonna have to decide on your own. If you noticed,
• 24:35
  Suze: I have refrained from saying anything about it, cause I
• 24:39
  Suze: want
• 24:39
  Suze: all of you to decide on your own what you
• 24:43
  Suze: want to do and what you don't want to do,
• 24:46
  Suze: but dollar cost average into it every month on your own.
• 24:50
  Suze: Forget about it being part of the Standard and Poor's,
• 24:53
  Suze: the VTI, the QQQ's. You get more bang for your
• 24:56
  Suze: buck if you just buy the stock itself. KT really
• 25:01
  Suze: loves SpaceX, don't you?
• 25:03
  KT: I love it.
• 25:04
  Suze: That's all you need to know about it. That means somehow...
• 25:08
  KT: I love everything with space.
• 25:10
  Suze: There you go. All right, next question, KT.
• 25:12
  KT: OK, this is from Brian. Now I picked this because
• 25:16
  KT: of his subject line was real caught my eye and
• 25:19
  KT: I said, Suze, we have got to talk about this.
• 25:23
  KT: Brian wrote, My 74-year-old mom lost $15,000 to an FBI
• 25:30
  KT: imposter via an online scam, she was a victim, everyone,
• 25:36
  KT: and here's why: Fraudsters posed as FBI agents. They contacted
• 25:42
  KT: her claiming someone was trying to take her house as
• 25:46
  KT: part of a serious investigation.
• 25:49
  KT: Over several days they made her afraid and instructed her
• 25:54
  KT: to withdraw cash, buy gift cards, and send photos of
• 25:58
  KT: the cards to them as documentation. She told me they
• 26:03
  KT: were acting as if they were really there to help her.
• 26:07
  KT: Because my mom has a great relationship with her local
• 26:10
  KT: bank tellers. They warned her to be careful when she
• 26:14
  KT: withdrew the money. She still did it.
• 26:18
  KT: The bank was able to reverse some debit charges. However,
• 26:22
  KT: because she bought most of the cards with cash, most
• 26:26
  KT: of the money is gone. When I first spoke to
• 26:30
  KT: the bank agent over the phone, the banker said that
• 26:33
  KT: this had happened to their own family member. Wow, wow.
• 26:38
  KT: So anyway, he goes on to say that they reported
• 26:41
  KT: this to police, blah blah blah, and then he said
• 26:43
  KT: to protect her moving forward, we also locked down her phone,
• 26:48
  KT: but I am incredibly frustrated to still see deceptive scam
• 26:53
  KT: ads targeting my mom on YouTube and Instagram.
• 26:58
  KT: Most of all, Suze, we want your listeners to know
• 27:02
  KT: the government or any legitimate business will never ask you
• 27:07
  KT: to buy gift cards. Please warn your listeners about these scams.
• 27:12
  Suze: Yeah, well, you know, everybody, first of all, I'm so
• 27:16
  Suze: sorry that happened. That is the reason
• 27:20
  Suze: we worked for two years on the Ultimate Scam Protection
• 27:25
  Suze: brought to you by now Coveron. Nord has changed its
• 27:30
  Suze: name to Coveron.
• 27:31
  Suze: I don't quite understand that name, but that's what they
• 27:34
  Suze: decided to change their name to, maybe because you're covered
• 27:37
  Suze: on everything that you do. So, that's what they have done.
• 27:42
  Suze: They recently, by the way, KT I don't know if
• 27:44
  Suze: you know this, but I just got an email saying
• 27:48
  Suze: they're increasing their identity theft
• 27:51
  Suze: protection to $2 million versus $1 million. However, the scam
• 27:59
  Suze: protection is what I really cared about because if something
• 28:03
  Suze: like this happens online or whatever to your mother, to
• 28:08
  Suze: your father, to you,
• 28:10
  Suze: could get back up to $100,000. It's like a $100,000
• 28:18
  Suze: insurance policy against online scams. So why aren't you all
• 28:24
  Suze: doing it? Really, it's $95.88
• 28:28
  KT: For each year.
• 28:29
  Suze: For each year, for each person. You can go to Suszeorman.com,
• 28:33
  Suze: look for it there, click and sign up. It is
• 28:37
  Suze: so important. You think it can't happen to you?
• 28:41
  Suze: It can. And in the same way, I just have
• 28:44
  Suze: to say this, you get car insurance. Do you hope
• 28:47
  Suze: that you're getting in a car accident? No, but you
• 28:50
  Suze: get it in case fire insurance, all of that. You
• 28:54
  Suze: want insurance in case something happens, and that's what the
• 28:59
  Suze: Ultimate Scam Protection account is all about good everywhere now
• 29:05
  Suze: except New York just so you know, eventually it'll be
• 29:09
  Suze: good in New York as well. I so hope you
• 29:13
  Suze: decide to do it.
• 29:13
  Suze: I can't even tell you.
• 29:15
  KT: Suze and I did it.
• 29:15
  Suze: Of course we did it.
• 29:17
  KT: And I'll tell you, when I, after I finished filling
• 29:20
  KT: it in, because it takes a little time, you have
• 29:22
  KT: to really, it's not easy, it's not easy, but man,
• 29:24
  KT: it's worth it. It didn't take that long.
• 29:26
  Suze: KT actually found how many things?
• 29:29
  KT: Oh, maybe about eight...
• 29:31
  Suze: That we had to correct.
• 29:33
  KT: Eight things had to be corrected, and some of them
• 29:35
  KT: were really old, but it made me feel so good
• 29:38
  KT: and so secure when I finished that sign up.
• 29:41
  Suze: Yeah, but don't think if all you have is identity
• 29:44
  Suze: theft protection that that's gonna take care of you. You
• 29:47
  Suze: need more than that, obviously that comes with it. A
• 29:51
  Suze: lot of things come with it, but go to suzeorman.com
• 29:54
  Suze: and check it out.
• 29:55
  Suze: Alright, KT, we have time for one more.
• 29:58
  KT: Ok, this is from Meredith. Meredith is 46 years old.
• 30:02
  KT: She said, first, Suze, I'm extremely blessed to be in
• 30:05
  KT: the situation where I need to ask this question, and
• 30:09
  KT: I don't take that for granted. Don't you love that?
• 30:13
  KT: I love that.
• 30:14
  KT: She said, What is the smarter move? Should I take
• 30:18
  KT: the money I have set aside for the year, which
• 30:21
  KT: is $35,000 and invest it into a mega backdoor Roth
• 30:27
  KT: through my employer as they offer that option up to
• 30:31
  KT: $72,000 or
• 30:34
  KT: should I use it to pay the taxes and convert
• 30:38
  KT: current money from my employer's traditional retirement account to the
• 30:44
  KT: Roth retirement, I calculated I could convert approximately $100,000 this year.
• 30:52
  KT: Then she said, I plan to switch careers in about
• 30:55
  KT: five years, so I might not have access to the
• 30:59
  KT: mega backdoor Roth option long term.
• 31:03
  KT: It could mean I only have the next five years
• 31:06
  KT: to super max out a Roth retirement account. Suze, what
• 31:10
  KT: is the smarter move?
• 31:12
  Suze: Do you want to answer it?
• 31:13
  KT: Yes, Meredith, listen up. This is KT, and this is
• 31:18
  KT: about your Roth. Go for it, girlfriend, convert!
• 31:21
  Suze: Convert?
• 31:23
  KT: Yes.
• 31:24
  Suze: (Suze makes the wrong answer sound)
• 31:25
  KT: Oh come on!
• 31:26
  Suze: KT. I know you tried so hard.
• 31:28
  KT: I really thought I had it right.
• 31:31
  Suze: Well, you really didn't.
• 31:32
  KT: How come I got it wrong?
• 31:33
  Suze: I'll tell you, a few months ago I did a podcast, everybody,
• 31:37
  Suze: and you should look this up. It was on mega
• 31:40
  Suze: backdoor Roths known as 415C plans.
• 31:45
  Suze: And not all corporations allow it, but essentially, to put
• 31:50
  Suze: it very briefly for you, you can contribute above your
• 31:55
  Suze: contribution limit with after-tax contributions, and if they allow you
• 32:00
  Suze: to do so, then transfer it to a Roth retirement
• 32:05
  Suze: account within your corporation and obviously Meredith's company allows her
• 32:11
  Suze: to do so. So Meredith, at the age of 46.
• 32:15
  Suze: You have years that you can convert what's in your
• 32:18
  Suze: traditional accounts, but you may only have five years left
• 32:24
  Suze: since you're thinking of leaving to do the mega backdoor Roth.
• 32:30
  Suze: So do the mega backdoor Roth, get it in there.
• 32:34
  Suze: And then as you go on, maybe you have more money.
• 32:38
  Suze: You could also convert some money obviously to a Roth
• 32:43
  Suze: from your traditional accounts as well. But first, make sure
• 32:46
  Suze: you max out the mega backdoor Roth every single year.
• 32:52
  Suze: That's what I would be telling you. Did that make sense, KT?
• 32:57
  KT: Yes...
• 32:58
  Suze: It didn't did it?
• 32:58
  KT: I still am so sad that I got it wrong.
• 33:00
  Suze: One day, I promise you.
• 33:05
  Suze: I promise you, sweetheart you will get it right, but
• 33:08
  Suze: I gotta tell you, chances are nine out of 10
• 33:11
  Suze: people would have gotten that one wrong.
• 33:14
  KT: Seriously, seriously, so I'm not that bad.
• 33:16
  Suze: You're never that bad. You are fabulous. All right, everybody,
• 33:21
  Suze: until Sunday, there's only one thing that we want you
• 33:24
  Suze: to remember when it comes to your money, and what
• 33:26
  Suze: is it?
• 33:27
  KT: People first, then money, then things. Now...
• 33:30
  Suze: You stay safe. Bye bye, bye.