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Transcript

How Can I Learn About Personal Finance? · Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

• 0:07
  KT: October 16, 2025. Is everyone in the mood for delicious pasta?
• 0:15
  Suze: What the hell is that all about? What are you talking about?
• 0:18
  KT: Suze and I are going to Italy in two more days.
• 0:22
  Suze: I'm going like, what is she talking about?
• 0:25
  KT: All right, you take over...
• 0:26
  Suze: What does that have to do with the Women and
• 0:27
  Suze: Money podcast,
• 0:28
  KT: and everyone smart enough to listen and also hungry
• 0:31
  KT: for gelato.
• 0:32
  Suze: Oh Jesus, here we go. And this is the Ask
• 0:36
  Suze: KT and Suze...
• 0:38
  KT: Anything, anything, anything.
• 0:41
  Suze: So let's get right to it because we have to pack.
• 0:44
  KT: OK, so this is from Craig.
• 0:47
  KT: I like this one a lot, Suze. He says, Help
• 0:50
  KT: me help my son get on the right track. My
• 0:53
  KT: son is 18, has a Schwab account, has 10,000 invested
• 0:58
  KT: in ETFs, and a couple of stocks. He asked me
• 1:02
  KT: recently what are some good books or some people to
• 1:05
  KT: read up on for learning.
• 1:07
  KT: I rave about your podcast, but what else can I
• 1:11
  KT: advocate for my son to get him off on the
• 1:14
  KT: right foot? Thank you both from another man smart enough
• 1:18
  KT: to listen for over 20 years. You go, Craig.
• 1:24
  Suze: I have to say I know I'm being self-serving here,
• 1:27
  Suze: but I really think one of the best books for
• 1:30
  Suze: somebody like 18 years of age,
• 1:34
  Suze: is the book that I wrote many years ago now
• 1:37
  Suze: called The Money Book for the Young Fabulous and Broke,
• 1:40
  Suze: and even though the numbers in there now have changed,
• 1:44
  Suze: like how much you can put in a wroth and everything,
• 1:46
  Suze: it will give him the basics, seriously, of what he
• 1:51
  Suze: needs to understand in a very simple and concise way.
• 1:56
  Suze: I love, love that book. Number one New York Times bestseller.
• 2:01
  Suze: Other than that.
• 2:03
  Suze: I don't know. He's got $10,000 at 18. I think
• 2:06
  Suze: he's doing pretty good. I would actually also have him
• 2:11
  Suze: read Five with Fitz since it's free.
• 2:15
  KT: Oh, that's, it's free.
• 2:17
  Suze: Just get him used to what Keith Fitz-Gerald is talking
• 2:20
  Suze: about and things like that. Other than that, there's so
• 2:24
  Suze: many of them out there.
• 2:26
  Suze: So you know, I have to tell you one of
• 2:28
  Suze: the greatest books I think he could read is The
• 2:31
  Suze: Richest Man in Babylon. Just have him read that as well.
• 2:35
  Suze: All right, KT.
• 2:37
  KT: I forgot about that story. Suze, you did the forward
• 2:42
  KT: for that book.
• 2:43
  Suze: Fabulous...
• 2:43
  KT: Fabulous book.
• 2:44
  Suze: Because you know it's...
• 2:45
  KT: A classic.
• 2:46
  Suze: ... not just about what to invest in.
• 2:49
  Suze: It's about values and how he sees himself and what
• 2:54
  Suze: he thinks and how he feels and his whole interaction
• 2:58
  Suze: with money, so there's more to it than just what
• 3:02
  Suze: to invest in. All right,
• 3:03
  KT: OK, good. From Paula. Hello, Suze and KT. I have
• 3:08
  KT: followed you since I was 32.
• 3:10
  KT: And now I will be 70 in a few months.
• 3:14
  Suze: I was just
• 3:14
  Suze: going to say, oh, tell me, she's going to be
• 3:16
  Suze: 72 now, right?
• 3:17
  KT: I recently retired and filed for Social Security three months
• 3:21
  KT: prior to age 70 with my spouse already collecting SS
• 3:26
  KT: several years ago.
• 3:27
  KT: Between the two of us, our monthly expenses will be covered.
• 3:31
  KT: So my question is, should we open a CD with
• 3:34
  KT: the liquid capital, of course, less their emergency fund, or
• 3:39
  KT: what should we do with our excess cash? They have
• 3:41
  KT: about 300,000.
• 3:43
  KT: Just to give you a little backstory, Suze, they have
• 3:46
  KT: 525,000 in stocks and bonds, another 275 to 300,000 in
• 3:55
  KT: metals and zero debt. Yay.
• 4:00
  Suze: So does metals, do you think it means gold?
• 4:02
  KT: I think so.
• 4:04
  Suze: So let me just answer this quickly, which is and
• 4:08
  Suze: everybody listen to me carefully. I cannot,
• 4:11
  Suze: I cannot tell you what to do with money cause
• 4:16
  Suze: I don't necessarily know enough about you. What are your expenses?
• 4:21
  Suze: What is your health? Do you need a new car?
• 4:24
  Suze: Does your house need a new roof? Do you have
• 4:27
  Suze: a trust? Do you have a will? Do you have
• 4:29
  Suze: all of that in place? It's more than what should
• 4:33
  Suze: you do with 300,000.
• 4:36
  Suze: Now, KT chose this, and here's what I want to
• 4:39
  Suze: say to you. Let's say you didn't come to me
• 4:42
  Suze: with this question. Let's say you walked into a brokerage firm,
• 4:47
  Suze: a financial adviser, and you say, Here, I have $300,000.
• 4:52
  Suze: What should I do with it? You now have set
• 4:55
  Suze: yourself up seriously, everybody, for the salesperson or possibly also
• 5:01
  Suze: known as a financial adviser should say buy this, buy that,
• 5:04
  Suze: do this, do that.
• 5:05
  Suze: A great financial advisor can never tell you what to
• 5:11
  Suze: do with $300,000 just because you already have $525,000 in stocks.
• 5:17
  Suze: You have like $300,000 in gold, no debt, not enough information.
• 5:24
  Suze: So don't go right me saying what should I do
• 5:27
  Suze: with my money, what should I invest in? I cannot
• 5:31
  Suze: answer that question for you.
• 5:34
  Suze: Because I don't know enough about you. However, at the
• 5:39
  Suze: age of 70, if you feel that you have everything
• 5:44
  Suze: under control, do you have a long term care insurance policy?
• 5:48
  Suze: What happens if one of you ends up where in
• 5:50
  Suze: a nursing home and now it's 10 to $20,000 a month?
• 5:55
  Suze: Have you really taken everything into consideration?
• 5:59
  Suze: So before you do anything with that $300,000 I want
• 6:04
  Suze: you to look at every possible thing that could go wrong.
• 6:08
  Suze: Your health, your caring for each other, your home that
• 6:12
  Suze: you live in, does it need a new roof, all of that.
• 6:16
  Suze: What's ever left over and you're fine with everything. I
• 6:19
  Suze: don't know then at your age, if I were you,
• 6:22
  Suze: I would be dollar cost averaging whatever you can afford
• 6:26
  Suze: to put in the market wisely and take advantage of
• 6:30
  Suze: what's going to be happening with artificial intelligence. That's all
• 6:35
  Suze: I'm going to say here. But Paula, really, you've been
• 6:39
  Suze: listening to me for so many years.
• 6:42
  Suze: You know what can happen when you get older. I
• 6:47
  Suze: just want to know before you invest anything. You've taken
• 6:50
  Suze: care of the what ifs of life. Next question, KT.
• 6:54
  KT: OK, this is from Kyle. Kyle asks, Good morning, Suze.
• 7:00
  KT: Thank you for all that you do for the men
• 7:02
  KT: smart enough to listen.
• 7:04
  KT: I was reading about structured CDs with market-linked returns. What
• 7:08
  KT: is your expert opinion about MLCDs, and is there a
• 7:14
  KT: particular index aligned to the CD that you would recommend
• 7:18
  KT: if you recommended MLCDs?
• 7:21
  KT: Now, just so you know, Suze, Kyle says he's a
• 7:24
  KT: year or two away from retirement. As an educator, I
• 7:28
  KT: do have a pension plan through PSERS. Do you see
• 7:32
  KT: these as viable options to limit risk in the market?
• 7:38
  Suze: So, I think I answered him to tell you the truth,
• 7:40
  Suze: but that's besides the point because that I think was,
• 7:42
  Suze: I don't know when I did that, but I think I did.
• 7:44
  KT: So tell people what MLCDs are.
• 7:47
  Suze: First of all MLCDs, the, the letters stand for market
• 7:51
  Suze: linked certificate of deposit. Now I just have to tell you,
• 7:56
  Suze: I'm not somebody who likes when investments are joined.
• 8:02
  Suze: Like either you buy a CD and lock in an
• 8:05
  Suze: interest rate, and there you go, or you invest in
• 8:09
  Suze: the market by buying either ETFs or individual stocks and
• 8:13
  Suze: dollar cost averaging into them. I personally do not like
• 8:17
  Suze: when you combine those two. Why? Because when you have
• 8:22
  Suze: a market linked certificate of deposit, you do get an
• 8:26
  Suze: interest rate, probably a lower interest rate on your certificate
• 8:30
  Suze: of deposit.
• 8:32
  Suze: But then you also get upward movement when the market
• 8:37
  Suze: moves up according to a specific index. You asked, Kyle,
• 8:41
  Suze: which index would I link one to? Well, if I
• 8:44
  Suze: bought one, which I wouldn't, but if I did.
• 8:47
  Suze: Right, I would link it to the Standard and Poor's
• 8:49
  Suze: 500 index. I would not link it to any other
• 8:52
  Suze: index other than that, but the problem is, in my opinion,
• 8:56
  Suze: if that index really goes, you're only going to get
• 9:00
  Suze: a percent of that increase. You're not, if it goes
• 9:03
  Suze: up 10%, you're not going to get 10%. You're only
• 9:07
  Suze: going to get maybe 8% or 7%.
• 9:11
  Suze: And when it all comes down to it, I don't
• 9:14
  Suze: think you'll make as much money. You're being conservative, but
• 9:18
  Suze: put what you want in a CD.
• 9:21
  Suze: And do that and then put what you want in
• 9:25
  Suze: the market. Don't keep them together. Separate them. But listen,
• 9:30
  Suze: if you don't want to lose any money and you
• 9:32
  Suze: don't really care about your return that much, you can
• 9:35
  Suze: do it if you want. Would I be doing it? No.
• 9:39
  Suze: All right, you're happy, what makes you laugh? (KT is
• 9:42
  Suze: laughing in the background)
• 9:44
  KT: She doesn't sugarcoat anything, does she?
• 9:47
  Suze: Well, you should
• 9:47
  Suze: know you've lived with me for 25 years now.
• 9:51
  KT: Next question is from Monique. Hello ladies. What is a
• 9:55
  KT: cash value life insurance?
• 9:58
  Suze: It's one of the investments I hate the most. There
• 10:00
  Suze: you go.
• 10:01
  KT: She doesn't sugarcoat. I recently came into some money. Is
• 10:05
  KT: that an instrument that would be appropriate for me? I'm
• 10:08
  KT: a 63 year old nurse still employed. We love nurses, Monique.
• 10:15
  KT: Tell her why you don't like it.
• 10:16
  Suze: Listen, you say I'm a 63 year old nurse still
• 10:21
  Suze: still employed. You didn't say I'm a 63 year old nurse.
• 10:25
  Suze: My husband or my spouse is X, Y, and Z.
• 10:28
  Suze: You didn't say anything about your children. You would only
• 10:31
  Suze: buy insurance if and only if you need a life
• 10:36
  Suze: insurance policy because if something happened to you, those who
• 10:39
  Suze: might be dependent upon you.
• 10:42
  Suze: Would need that money. At 63 I doubt highly that
• 10:46
  Suze: is true. So number one, you don't need life insurance
• 10:49
  Suze: and you definitely don't want a cash value life insurance.
• 10:53
  KT: Why?
• 10:53
  Suze: Cash... Why? What do you think I've been talking about
• 10:56
  Suze: all these years? Cash value life, KT ready? Is whole life,
• 11:03
  Suze: universal life?
• 11:04
  KT: Ouch.
• 11:05
  Suze: Variable life.
• 11:06
  KT: Yikes.
• 11:07
  Suze: And what have I always told you about those three
• 11:09
  Suze: kinds of life insurance?
• 11:12
  Suze: What have I told you? I what them?
• 11:15
  KT: You hate them.
• 11:17
  Suze: That's right.
• 11:17
  KT: She doesn't
• 11:18
  KT: hate a lot of anything, but she does hate those.
• 11:21
  Suze: Now, a second ago I told Kyle, don't mix investments.
• 11:27
  Suze: You want a CD, buy a CD. You want to
• 11:30
  Suze: buy an ETF or whatever in the market. Monique,
• 11:34
  Suze: you don't buy life insurance just because it has cash value.
• 11:40
  Suze: You buy life insurance, again, because somebody is going to
• 11:44
  Suze: need money in case you die. And in that case,
• 11:48
  Suze: the only kind of insurance you should be buying is
• 11:51
  Suze: term insurance, but at 63, it would be expensive, so no,
• 11:56
  Suze: you should not.
• 11:57
  Suze: And I repeat, you should not be doing this under
• 12:02
  Suze: any circumstance whatsoever. You just came into some money. If
• 12:06
  Suze: you have a mortgage, pay it off. If you're going
• 12:09
  Suze: to stay in your house forever. Oh, you want some
• 12:12
  Suze: money in the stock market or whatever, open up a
• 12:15
  Suze: Roth IRA and do it in there in an ETF,
• 12:18
  Suze: whatever you do, but do not, do not do cash
• 12:22
  Suze: value life insurance, all right.
• 12:27
  KT: There you go, Monique. OK, next question is from...
• 12:30
  KT: Oh, you are getting...
• 12:30
  KT: I know Suze. I know what these questions do to her.
• 12:36
  KT: I feel like we've had a little spice in here
• 12:38
  KT: because we've been talking so much about Roth. These are
• 12:40
  KT: all different. Here's a good one.
• 12:42
  KT: This is from Sokeri. Thank you for what you do
• 12:45
  KT: for us. I'm a single mom, business owner, renting with
• 12:50
  KT: an emergency fund and a 20% down payment for a house.
• 12:55
  KT: I heard about seller financing, and I'm curious. Two questions.
• 13:00
  KT: Do you think I should buy? If so, what are
• 13:03
  KT: your thoughts about seller financing as an alternative option?
• 13:09
  Suze: Here is a situation once again.
• 13:13
  Suze: That all you tell me is you're a single mom,
• 13:16
  Suze: you're a business owner, currently you're renting, you have an
• 13:20
  Suze: emergency fund and 20% down. Do you think I should buy,
• 13:25
  Suze: you say.
• 13:28
  Suze: How would I know? OK, she's really laughing now.
• 13:33
  KT: I picked these questions that have a whole lot of
• 13:35
  KT: blanks in them because it challenges her to figure out
• 13:40
  KT: what advice to give you.
• 13:42
  Suze: Here's the advice I'm going to give you.
• 13:45
  KT: Send me more information.
• 13:46
  Suze: No, don't, right? But here's the advice seriously. Is your
• 13:52
  Suze: job secure?
• 13:54
  Suze: Right, can you afford the monthly payments on a mortgage
• 13:59
  Suze: plus the insurance plus the property tax plus maintenance? So
• 14:05
  Suze: do you want to own a home, or is it
• 14:08
  Suze: better for you to continue just renting because maybe renting
• 14:12
  Suze: is far simpler for you. Where, what area are you
• 14:16
  Suze: talking about?
• 14:18
  Suze: Because in certain areas like Florida and maybe LA, you
• 14:21
  Suze: can't even get insurance anymore in many of the areas
• 14:25
  Suze: to even cover your home in terms of property insurance.
• 14:30
  Suze: And if you're going to take out a mortgage, you
• 14:32
  Suze: need insurance. So have you figured out all of those?
• 14:36
  Suze: You're a business owner. What happens if you get sick?
• 14:40
  Suze: And you can't run your business any more. Then what
• 14:44
  Suze: are you going to do? And there's so many things
• 14:47
  Suze: to consider, so I don't have a clue what you
• 14:50
  Suze: should do. Do you all understand? It's not just as
• 14:54
  Suze: simple as, should I buy a home, Suze?
• 14:57
  Suze: It's not just as simple as I have $300,000. What
• 15:01
  Suze: should I do with it? You have to think more
• 15:05
  Suze: deeply about your entire situation.
• 15:09
  Suze: And you have to make these decisions on your own,
• 15:13
  Suze: 'cause otherwise you're going to meet up with possibly a
• 15:16
  Suze: real estate agent, and they're going to say, oh yeah,
• 15:18
  Suze: buy this. You're going to go and see possibly a
• 15:22
  Suze: financial advisor that will say, oh 300,000. I don't care
• 15:25
  Suze: what else you have buy this. Now maybe you'll meet
• 15:28
  Suze: up with an honest one and a good one, possibly.
• 15:33
  Suze: So therefore you have to start thinking more deeply about
• 15:38
  Suze: your own individual situations and what could go wrong. And
• 15:42
  Suze: if you know you can cover everything if it goes wrong,
• 15:46
  Suze: then it's right for you to do something with your
• 15:48
  Suze: money that you want to do. KT.
• 15:51
  KT: I, I want to give them one more piece of
• 15:53
  KT: advice I'll never forget. Suze's brother looked at us once
• 15:57
  KT: when we were buying our condo in Florida, and he said, girls,
• 16:01
  KT: remember one thing:
• 16:02
  KT: Condo fees never go down.
• 16:06
  Suze: Yes, he forgot to tell us about assessments as well.
• 16:09
  Suze: All
• 16:09
  Suze: right, go on.
• 16:10
  KT: OK. Next question is Jessica. We have a significant amount
• 16:14
  KT: of money in CDs, approximately 300,000. We have slowly been
• 16:19
  KT: learning about
• 16:20
  KT: mutual funds and stocks. Over time we have accumulated $130,000
• 16:26
  KT: in mutual funds and individual stocks. They are doing quite well.
• 16:32
  KT: How much money should remain liquid and how much should
• 16:36
  KT: we invest? We have no debt. Our home is paid off.
• 16:40
  KT: We are 50 and 52, and retirement is on the
• 16:44
  KT: horizon but a few years away.
• 16:47
  KT: And Suze, I'll just give you real quick. They have
• 16:50
  KT: two kids, one gets a, they're in college. One has
• 16:53
  KT: a free ride. The other one needs to be paid for.
• 16:56
  KT: We have a small 529 plan. Our retirement 401 is
• 17:01
  KT: $2 million combined plus I will have a fixed pension
• 17:05
  KT: of $7,000 monthly. So there's a little more information for you.
• 17:11
  KT: I think they're doing pretty well.
• 17:12
  Suze: They're doing pretty well, but you're really doing really bad
• 17:17
  Suze: on one thing, you are 50 and 52 years of age.
• 17:22
  Suze: How is it possible that you haven't listened to me
• 17:26
  Suze: for all these years and you now have $2 million
• 17:31
  Suze: in a pre-tax retirement account and not in a Roth?
• 17:35
  Suze: That means later on when you go to take money out,
• 17:40
  Suze: you are going to pay ordinary income tax on it.
• 17:42
  Suze: You know, your two kids,
• 17:44
  Suze: all right, you die and leave it to them. They're
• 17:47
  Suze: going to pay ordinary income tax on it. You add
• 17:50
  Suze: that to your $7000 a month pension plus Social Security
• 17:55
  Suze: and everything else. Oh, now you're in a seriously high
• 17:59
  Suze: income tax bracket, and you have made Uncle Sam so
• 18:02
  Suze: happy I can't even tell you.
• 18:05
  Suze: I don't care about what you should be doing with
• 18:08
  Suze: new money, how much you should keep safe, how much...
• 18:11
  Suze: I don't care about that right now. I care about
• 18:14
  Suze: you better figure out how to get that $2 million
• 18:18
  Suze: little by little into your Roth 401k.
• 18:22
  Suze: So that by the time you actually retire, it is
• 18:26
  Suze: all there and a new contribution should be going to
• 18:29
  Suze: a Roth 401k. And if you can figure it out,
• 18:33
  Suze: a Roth IRA as well, period. That is the move, Jessica,
• 18:39
  Suze: that you really need to start thinking about because you
• 18:42
  Suze: are just so, so wrong with having so much money
• 18:47
  Suze: in a 401k pretax. What are you looking at me?
• 18:52
  KT: Because you don't have to give her a slap down
• 18:54
  KT: so hard.
• 18:55
  Suze: I, but I'm telling you, KT, for how many years
• 18:59
  Suze: now have I been telling people don't do pre-tax account
• 19:04
  Suze: and yet you all still are doing them.
• 19:07
  Suze: Even if you're doing them, are you doing what it
• 19:10
  Suze: takes to convert little by little into a Roth, and
• 19:14
  Suze: you're thinking, oh, but I'm going to owe taxes, and
• 19:16
  Suze: this the biggest mistake I am telling you, in my
• 19:20
  Suze: opinion you are making, is to have a whole lot
• 19:24
  Suze: of money in a traditional 401k or IRA.
• 19:31
  Suze: All right, go on, KT.
• 19:32
  KT: So next question, Suze is from Wendy. Dear Suze, my
• 19:36
  KT: husband and I have invested almost all of our money
• 19:39
  KT: in real estate. OK, ready?
• 19:43
  Suze: What you... just wait, should we just call this podcast?
• 19:47
  KT: It makes Suze aggrevated.
• 19:48
  Suze: It's Ask KT and make Suze aggravated podcast.
• 19:52
  KT: That's why we're going to Italy, everybody. She's going to
• 19:55
  KT: calm down, have a little, she doesn't drink. I'll have
• 19:58
  KT: a glass of wine. She'll have a little gelato or pasta,
• 20:02
  KT: everything she doesn't eat. Ready?
• 20:05
  KT: My husband and I have invested almost all of our
• 20:08
  KT: money in real estate amounting to approximately $2 million in
• 20:14
  KT: a beautiful Colorado resort mountain town. Knowing that real estate
• 20:20
  KT: is always a good investment, we bought premium lots and
• 20:25
  KT: a house in a down market, hoping to capitalize on
• 20:29
  KT: our investments one day.
• 20:30
  Suze: As long as
• 20:31
  Suze: you can sell it.
• 20:32
  KT: Well, here's the, here's the clincher.
• 20:35
  KT: Ready. All of the properties have been listed for a
• 20:39
  KT: while now, but due to the current market situation, we
• 20:43
  KT: have been unable to sell.
• 20:45
  Suze: While they still have the cost of... just go on.
• 20:48
  KT: We have some stocks worth about 100,000 and are concerned
• 20:53
  KT: they will be lost in a possible recession. Half of
• 20:57
  KT: their value was lost in a previous recession.
• 21:02
  KT: Which took years to regain.
• 21:03
  Suze: Yeah, 2007, 2008. Go on.
• 21:05
  KT: Ok, ready? We are business owners. We're wanting to retire.
• 21:10
  KT: My husband is reducing the workload. As we have everything
• 21:14
  KT: for sale, hoping to fulfill our dreams of travel. Our
• 21:19
  KT: accounts are dwindling.
• 21:20
  KT: Should we sell some of our stocks to reinvest in
• 21:25
  KT: high yield savings account, pay off a $10,000 credit card debt, ready,
• 21:32
  KT: and create an emergency fund against recession.
• 21:37
  KT: Now upon selling our properties, which has taken much longer
• 21:41
  KT: than anticipated, we plan on reinvesting and achieving our retirement goals.
• 21:47
  KT: Any advice you would give would be greatly appreciated, as
• 21:52
  KT: we are not particularly investment savvy but are learning. By
• 21:57
  KT: the way.
• 21:58
  KT: Ready for this? This is the part that put a
• 22:01
  KT: smile on my face. Do you know of anyone who
• 22:04
  KT: might be interested in owning a beautifully renovated historic Victorian
• 22:08
  KT: home in a quaint mountain town?
• 22:11
  Suze: Oh, maybe we
• 22:12
  Suze: are.
• 22:13
  KT: Alright, there you go. There you go. This is from
• 22:16
  KT: Wendy and let's be gentle because Wendy really wants to
• 22:22
  KT: sell these properties, but maybe they just need to do
• 22:24
  KT: a fire sale.
• 22:26
  Suze: Now Wendy, I need you to listen to me.
• 22:29
  Suze: I talk about diversification all the time.
• 22:33
  Suze: And when you have 100% of your money invested in
• 22:38
  Suze: one sector.
• 22:40
  Suze: You're always in my opinion, asking for trouble. Now you
• 22:45
  Suze: may have lost half of your money in the market
• 22:49
  Suze: back in 2007, 2008, 2009, but it took a long
• 22:54
  Suze: time for it to come back. If you had owned
• 22:58
  Suze: real estate back then.
• 23:00
  Suze: You could have bought something, let's just say Tampa, Florida,
• 23:04
  Suze: $700,000 that was worth $100,000. Real estate actually lost more
• 23:12
  Suze: than 50% of its value back then, so things can happen.
• 23:20
  Suze: Right now, you need to sell this real estate.
• 23:24
  Suze: And I have a feeling that real estate is going
• 23:28
  Suze: to actually get slower rather than pick up. People are
• 23:33
  Suze: hoping that if interest rates go down, that people will
• 23:36
  Suze: get more interested, but still, you may need to do
• 23:41
  Suze: what KT said. You may need to keep lowering your
• 23:46
  Suze: price until somebody is seriously interested in it.
• 23:52
  Suze: Because you have $10,000 of debt, you have about $100,000
• 23:58
  Suze: in stocks.
• 24:00
  Suze: But you're concerned about a recession, so you're going to
• 24:04
  Suze: sell something that you should probably, in my opinion, absolutely
• 24:08
  Suze: be keeping. I don't know which stocks you have, but
• 24:13
  Suze: if you're invested in the right stocks in the next
• 24:16
  Suze: few years, are you kidding me?
• 24:19
  Suze: Many of those stocks that I have been talking about,
• 24:22
  Suze: ETFs that I have been talking about on the podcast,
• 24:26
  Suze: I wouldn't be selling them right now for all the
• 24:28
  Suze: money in the world. And in fact, if they happen
• 24:31
  Suze: to go down for whatever reason, I would actually be
• 24:35
  Suze: buying more.
• 24:37
  Suze: The great thing about stocks is that they are liquid.
• 24:42
  Suze: Either pick up the phone and talk to a financial person,
• 24:44
  Suze: say sell.
• 24:46
  Suze: And you get the money a few seconds later it's
• 24:49
  Suze: liquidated or you go online and do it. You have
• 24:53
  Suze: invested in things that are not liquid.
• 24:58
  Suze: And that puts you in a dangerous situation. It just does.
• 25:03
  Suze: So my advice to you truthfully.
• 25:06
  Suze: It is to liquidate them as fast as you can,
• 25:10
  Suze: meaning lower the price, get out of them, and then
• 25:14
  Suze: it's done. But then Wendy, I don't know how you're
• 25:19
  Suze: going to reinvest that money.
• 25:21
  Suze: But you might really need some professional guidance in doing
• 25:26
  Suze: it because I would not be reinvesting it back into
• 25:30
  Suze: real estate 100%. I would be absolutely doing something that
• 25:36
  Suze: gives you
• 25:36
  Suze: income that you can count on dividend paying stocks, things
• 25:41
  Suze: like that, but you're going to be needing help, but
• 25:45
  Suze: I would not be worried about a recession if I
• 25:48
  Suze: were you, and I would not be liquidating my stocks, assuming,
• 25:52
  Suze: that they are good, good stocks. What do you want
• 25:56
  Suze: to say KT?
• 25:56
  KT: She's coming into season. It's in Colorado, quaint mountain town.
• 26:01
  KT: You're coming into ski season and mountain season take advantage
• 26:07
  KT: of all the people that could be interested.
• 26:10
  KT: Go for it.
• 26:10
  Suze: All right, one more KT.
• 26:11
  KT: OK, this is from Regina. Regina said...
• 26:17
  Suze: Wait, am I going to get aggravated?
• 26:17
  KT: No, I think this is a very simple and straightforward...
• 26:20
  Suze: Should it be your quizzy?
• 26:21
  KT: No.
• 26:22
  Suze: No quizzy today?
• 26:23
  KT: No, it said Roth converting, is it too late?
• 26:28
  KT: I am 60 years young.
• 26:30
  Suze: No.
• 26:30
  KT: And then wait, Regina said, I've one more question. Is
• 26:33
  KT: there such a thing of being over diversified? I have
• 26:37
  KT: about 14 investments in ETFs and stocks.
• 26:41
  Suze: Yes.
• 26:44
  Suze: All right, there you go.
• 26:44
  Suze: But, but very serious, listen, I want all of you
• 26:48
  Suze: to get this. I want all of you to get
• 26:51
  Suze: this more than you ever gotten anything I have ever
• 26:54
  Suze: said in the 40 years I've been doing this.
• 26:57
  Suze: In most cases you are not too old to be
• 27:01
  Suze: converting money to a Roth, especially if you're not going
• 27:05
  Suze: to be needing that money. If you have money in
• 27:09
  Suze: a traditional retirement account and you are retired and you
• 27:12
  Suze: actually need to withdraw money for you to live on,
• 27:16
  Suze: then it doesn't make any sense to convert. But if
• 27:18
  Suze: you're not going to need that money or you're still young,
• 27:22
  Suze: like 60.
• 27:24
  Suze: You should absolutely be converting. Can you please, please get that?
• 27:31
  Suze: I promise you, years from now you're going to love
• 27:36
  Suze: me for it, but you should love me right now,
• 27:39
  Suze: even without it. But that's besides the point in terms
• 27:42
  Suze: of is there such a thing of being over diversified? Oh,
• 27:46
  Suze: you bet there is. I was looking at somebody's portfolio
• 27:52
  Suze: a little bit ago.
• 27:54
  Suze: Their financial advisor, and I may have told you this,
• 27:57
  Suze: have them in possibly like 30 different exchange traded funds
• 28:02
  Suze: and mutual funds.
• 28:05
  Suze: Maybe even more than that. And if they looked at
• 28:07
  Suze: the holdings of each of those ETFs and mutual funds,
• 28:11
  Suze: they're invested almost in the same thing.
• 28:15
  Suze: So yes, you can be over diversified. Truthfully, if I
• 28:21
  Suze: were going to be investing and I didn't really know
• 28:23
  Suze: what to do.
• 28:25
  Suze: And I had at least five, 10, 15 years till
• 28:27
  Suze: I needed this money.
• 28:29
  Suze: I would take whatever money I had, and I would
• 28:32
  Suze: put half of it 50%, into VOO, and the other 50%
• 28:39
  Suze: I would probably put into stocks like Palantir, IONQ, possibly Tesla, Microsoft,
• 28:49
  Suze: any of the ones that I have been mentioning, and
• 28:52
  Suze: that's what I would be doing if I were you anyway.
• 28:57
  Suze: Is that that?
• 28:59
  KT: That's a wrap, Suze.
• 28:59
  Suze: All right.
• 29:01
  Suze: You just loved today, didn't
• 29:04
  Suze: you?
• 29:05
  KT: It was good. Didn't you all like that, everybody? They liked it.
• 29:09
  Suze: They liked it, KT. Mikey liked it.
• 29:12
  KT: They also like my Frothy Rothy drink.
• 29:16
  KT: It's an energy drink and it's really good. I think
• 29:19
  KT: they're all loving it.
• 29:20
  Suze: Yeah, well, it took you long enough to post it,
• 29:22
  Suze: but that's besides the point. All right, everybody, in two
• 29:25
  Suze: days we are off to Italy until the 30th of October. However,
• 29:35
  Suze: we will pre-record for you,
• 29:38
  Suze: Quite a few of the Ask KT and Suzy Anything
• 29:41
  Suze: podcasts so you have new ones, so you don't have
• 29:45
  Suze: to hear just the best of. Hopefully I will be
• 29:48
  Suze: able to get to doing Suze Schools for you as well,
• 29:51
  Suze: things I may want you to know during that time,
• 29:54
  Suze: but we will be back after October 30th
• 29:58
  KT: And on a diet.
• 30:02
  Suze: Probably all right, but until then there's really only one
• 30:05
  Suze: thing we want you to know,
• 30:07
  KT: and that is people first, then money.
• 30:11
  KT: People first.
• 30:12
  Suze: Did you, did you forget?
• 30:13
  KT: I was going to say pasta. I was gonna say
• 30:16
  KT: people first, then money, then things.
• 30:20
  KT: Now you stay safe.
• 30:20
  Suze: And healthy and secure. See you soon. We love you.
• 30:26
  Suze: Bye bye.