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The Key to a Wealthy Life · Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

• 0:08
  Suze: September 11, 2025. Welcome everybody to the Women and Money podcast,
• 0:13
  KT: and Everyone Smart Enough to Listen.
• 0:14
  Suze: Today is KT and Ask Suzie anything. And so for
• 0:19
  Suze: those of you who want to write in and ask
• 0:22
  Suze: a question, and if KT chooses it, it will be
• 0:26
  Suze: on the podcast, please send those questions to ask Suze
• 0:31
  Suze: SUZE podcast at gmail.com.
• 0:35
  Suze: September 11th, 24 years ago today, KT,
• 0:39
  KT: we never, ever, ever will forget,
• 0:41
  Suze: nor will anybody else ever forget. So to all of
• 0:46
  Suze: us who will never forget, we always send blessings, prayers,
• 0:52
  Suze: and hope for all. All right. Any anything else you
• 0:56
  Suze: want to say there?
• 0:57
  KT: No, I think that's good, Suze.
• 0:59
  Suze: That's
• 0:59
  Suze: good. All right, sweetheart, so.
• 1:02
  Suze: What do you got?
• 1:04
  KT: OK...
• 1:04
  Suze: Did you have a good anniversary with me.
• 1:08
  KT: Yeah, we had, um, we had our wedding anniversary, not
• 1:13
  KT: our meeting anniversary.
• 1:15
  Suze: I actually like celebrating KT,
• 1:17
  KT: The meeting anniversary
• 1:18
  Suze: 25 years ago because 15 just doesn't sound like long enough.
• 1:22
  Suze: And I remember, I just want to tell you this.
• 1:25
  Suze: I remember when I first met you, I always thought,
• 1:28
  Suze: please let me get to double digits.
• 1:30
  KT: You did?
• 1:31
  Suze: I did. Let me get to double digits. Then we
• 1:33
  Suze: got to 10 years and I was like, yeah. Then
• 1:36
  Suze: at 15 years we got married. Then here we are
• 1:39
  Suze: about 25 years from when we were...
• 1:42
  KT: What are we going to do to celebrate that?
• 1:45
  Suze: Our 25th, yeah, yeah, probably nothing. All right, go on.
• 1:50
  KT: OK, here's my first question, Suze.
• 1:53
  KT: I love listening to your show in part because even
• 1:57
  KT: when I think the topic doesn't apply to me, I
• 2:00
  KT: find that I gained so much from it anyway. I've
• 2:03
  KT: got a question about a problem that's a good problem,
• 2:07
  KT: but it's causing great anxiety and indecision. OK, remember those
• 2:12
  KT: two words, everybody, anxiety, indecision.
• 2:16
  KT: Now here's the question. My father recently died and left
• 2:20
  KT: me with $1.2 million
• 2:22
  Suze: That can cause anxiety, believe it or
• 2:24
  Suze: not.
• 2:25
  KT: In mostly non-taxable funds. This was never and not expected.
• 2:30
  KT: My wife and I are 76 and 67 respectively, with
• 2:34
  KT: two adult children adopted who each have disabilities.
• 2:39
  KT: Before this inheritance, we planned to downsize and sell the
• 2:43
  KT: house and move into a condo that would cost no
• 2:46
  KT: more than about half a million dollars. This price range
• 2:50
  KT: in Minneapolis area would limit us slightly. There are some
• 2:54
  KT: amazing options in the $700,000 to $850,000 range that we
• 2:58
  KT: did not consider.
• 3:00
  KT: I'm wondering if at this point we can afford the
• 3:03
  KT: more expensive condo options. The HOA fees are similar to
• 3:07
  KT: the less expensive option.
• 3:10
  KT: But I'm extremely anxious about somehow losing what seems like
• 3:14
  KT: a huge amount of money that was just plopped in
• 3:18
  KT: our laps. We have no debt, but I worry that
• 3:21
  KT: now I suddenly have this unexpected inheritance. I'm feeling like
• 3:26
  KT: I don't want to spend any of it, and it
• 3:28
  KT: scares me to consider a more expensive downsized condo...
• 3:33
  Suze: What was the word?
• 3:34
  KT: It scares me. Which would not really be downsizing at
• 3:39
  KT: all because it might cost close to what we would
• 3:42
  KT: sell our house for. On the one hand, I think
• 3:45
  KT: we should go ahead and buy the nicer condo and
• 3:48
  KT: we would still be no worse off than we were
• 3:52
  KT: before this sudden influx of money.
• 3:54
  Suze: But the question is, on the other hand...
• 3:58
  Suze: Right. Should she keep, what should she do? Essentially, that's
• 4:01
  Suze: what she wants to.
• 4:02
  KT: What should she do Suze?
• 4:02
  Suze: What hand should she look at? Here's the answer to
• 4:06
  Suze: this dilemma.
• 4:09
  Suze: I've always told all of you the following.
• 4:13
  Suze: When do you buy what you need versus what you
• 4:16
  Suze: can afford?
• 4:18
  Suze: When you can afford more than what you need.
• 4:23
  Suze: Cause the key to creating more and more wealth, to
• 4:27
  Suze: making more money out of your money is not to
• 4:31
  Suze: buy what you can afford, but to buy what you need.
• 4:35
  Suze: And in this case, what's sad about this is that
• 4:39
  Suze: with Sharon what's happening here is they were fine. They
• 4:44
  Suze: were going to downsize. Everything was perfect.
• 4:48
  Suze: Until they got this $1.2 million unexpectedly, and now she's
• 4:53
  Suze: full of anxiety.
• 4:55
  KT: She's scared.
• 4:56
  Suze: She's scared. She doesn't know what to do. Well, I'll
• 5:00
  Suze: tell you what to do. It's not, oh, now you
• 5:03
  Suze: have this extra money so you can buy something more. No,
• 5:07
  Suze: you're going to continue according to plan. You're going to
• 5:11
  Suze: continue to buy the one in the $500,000 arena. That's
• 5:16
  Suze: what you wanted.
• 5:17
  Suze: And you're just going to either save this money, invest
• 5:20
  Suze: this money, give some away to charity. I don't know
• 5:23
  Suze: what you're going to do with it, but you're not
• 5:25
  Suze: going to spend a gift and have it create an
• 5:29
  Suze: intense situation for you where you have anxiety and you
• 5:33
  Suze: are scared.
• 5:35
  Suze: Remember what is the goal of money? It is for
• 5:37
  Suze: you to be secure. You were secure before you got
• 5:40
  Suze: this money. Now you don't know what to do. Well,
• 5:44
  Suze: I'll tell you what not to do. Don't buy more
• 5:47
  Suze: just because you can afford it. Buy what you need
• 5:51
  Suze: versus what you can afford, no matter how wealthy you get.
• 5:55
  Suze: And believe it or not, everybody, that is still to
• 5:58
  Suze: this day exactly
• 6:01
  Suze: how KT and I live our lives. All right, KT, next.
• 6:06
  KT: That's for sure.
• 6:10
  KT: Sometimes I say to Suze, let's spend a little money.
• 6:13
  KT: She said, Why? And I can never answer. All right,
• 6:17
  KT: so next is from Linda. She said, Hi, Suze and KT.
• 6:21
  KT: I'm 74 years old and have been listening to your
• 6:24
  KT: podcast for almost two years now. I'm a retired teacher
• 6:28
  KT: and my net income is about $4,500 a month through
• 6:33
  KT: my pension program and a little bit of Social Security.
• 6:38
  KT: We love teachers, don't we have. My question is, should
• 6:42
  KT: I try investing in the stock market? My goal is
• 6:48
  KT: to save enough money in case I need more money
• 6:51
  KT: for long-term care in another 10 years or so.
• 6:55
  KT: At my age, long term care insurance is too expensive,
• 6:59
  KT: so I think I'd be better off saving...
• 7:01
  Suze: How old is she?
• 7:02
  KT: 74.
• 7:02
  Suze: Right, so she's talking about 84 now go on.
• 7:05
  KT: She said at my age long term care insurance is
• 7:09
  KT: too expensive, so I think I'd be better off saving
• 7:12
  KT: than pouring that money into an insurance
• 7:15
  KT: policy. I own my home. It may not be paid
• 7:18
  KT: off in my lifetime. I do have approximately $175,000 equity
• 7:25
  KT: in my home, and I owe about $150,000 more. Also,
• 7:30
  KT: my interest rate is only 2.75%. Should I try putting
• 7:35
  KT: $1,000 in the Vanguard VOO,
• 7:39
  KT: now just to get familiar with it or just stay
• 7:42
  KT: with CDs?
• 7:44
  Suze: Let
• 7:44
  Suze: me see that.
• 7:45
  KT: Go with the Voo.
• 7:46
  Suze: Go with
• 7:47
  KT: the with the voo. Let her try it.
• 7:50
  Suze: Is that what you would tell her? Yeah, so this
• 7:53
  Suze: is your quizzy. You would say, cause she's fine, she
• 7:57
  Suze: has good income and all. She has about 48... I'm
• 7:59
  Suze: reading this now, she has about 48,000 CDs and checking.
• 8:03
  Suze: All right. She is 74.
• 8:07
  Suze: And you would say, take that $1,000 extra dollars and
• 8:10
  Suze: see what you can do with it..
• 8:11
  KT: With the VOO...
• 8:11
  Suze: You would, would you, why not? Because I'm going to
• 8:16
  Suze: show you how a great financial advisor, I'm very serious,
• 8:23
  Suze: which I am, would look at this problem here.
• 8:27
  Suze: And tell her how to solve it. You know, it's funny, everybody,
• 8:31
  Suze: I look at all of your money like it's a
• 8:33
  Suze: chess game. If I make one move, how does that
• 8:37
  Suze: affect everything else? And what is the smartest move that
• 8:41
  Suze: I can make?
• 8:43
  Suze: So that you can have checkmate. You can always win
• 8:46
  Suze: no matter what. So here, my dear Linda, is what
• 8:50
  Suze: I want you to think about. You say...
• 8:53
  KT: Wait, you'd have to just, I just want to say something.
• 8:57
  KT: So there's nothing wrong with VOO. It's just not right
• 9:00
  KT: for Linda at this time.
• 9:02
  Suze: Well, it
• 9:03
  Suze: wouldn't be necessarily wrong for Linda, but there's a better way.
• 9:06
  KT: OK, OK.
• 9:07
  Suze: There's an absolutely better.
• 9:09
  KT: Let's hear it.
• 9:10
  Suze: First of all, she says she has $175,000 of equity
• 9:15
  Suze: in her home, and she owes still about $150,000 and
• 9:20
  Suze: she has a 2.75% interest rate. That means she bought
• 9:24
  Suze: it a few years ago.
• 9:27
  Suze: And she's still her her mortgage payments with that KT
• 9:31
  Suze: are probably about $612 right around there, a month. OK, great.
• 9:39
  Suze: What if, because obviously she has a 30 year mortgage, right?
• 9:45
  Suze: It's obvious that that's what she has. All right, so
• 9:47
  Suze: listen to me closely, Linda. You have a $612 a
• 9:52
  Suze: month mortgage.
• 9:53
  Suze: But you still probably owe about 27 years on this
• 9:58
  Suze: mortgage and you're already 74 years of age, so you're
• 10:03
  Suze: probably never going to have it paid off in your lifetime.
• 10:06
  Suze: All right, however, what if you were to take that $1,000?
• 10:13
  Suze: And put it towards your mortgage so that rather than
• 10:18
  Suze: $612 a month, you're now paying $1,612 a month towards
• 10:25
  Suze: this mortgage. Do you know if you did that, you
• 10:29
  Suze: would own this house outright in seven years and about
• 10:33
  Suze: four months.
• 10:35
  Suze: Do you like that, KT?
• 10:36
  KT: I love that.
• 10:37
  Suze: All right, so now you have a home that's worth
• 10:41
  Suze: $325,000 maybe $350,000 at that time or more that you
• 10:47
  Suze: could either sell, do a reverse mortgage on, but you
• 10:50
  Suze: now have also lowered your expenses by $1,600 a month
• 10:57
  Suze: because you were able to pay it for a mortgage.
• 10:59
  Suze: Now you don't have that anymore.
• 11:02
  Suze: Now what would happen if you took that $1,000 and
• 11:07
  Suze: you invested it, let's say in V oo. Now, even
• 11:11
  Suze: though I know VOO has averaged about 15% over the
• 11:14
  Suze: past five years or so, let's just be conservative where
• 11:19
  Suze: it averages about 10% because that's on average what it
• 11:23
  Suze: should make. So what that would mean is that in
• 11:27
  Suze: 7.4 years.
• 11:29
  Suze: At about a 10% average annual rate of return, you
• 11:33
  Suze: would have $124,000.
• 11:37
  Suze: But you would still owe $118,000 on your mortgage. Now
• 11:46
  Suze: I have a lot of money invest in the known
• 11:49
  Suze: versus the unknown.
• 11:52
  Suze: If you put $1,000 a month into the house, we
• 11:56
  Suze: know in 7.4 years you're going to get rid of
• 12:01
  Suze: $150,000 and own your home outright. We actually don't know
• 12:07
  Suze: what's going to happen in the stock market. We don't
• 12:10
  Suze: know that we could say that $1,000 over the next
• 12:13
  Suze: 7.4 years is going to make 10%. It could lose 10%.
• 12:19
  Suze: We have no idea. Therefore, what you are going to
• 12:24
  Suze: do is you're going to invest in yourself, in your security,
• 12:28
  Suze: and the known versus the unknown, and you are going
• 12:32
  Suze: to put that extra $1,000 towards the principal payment of
• 12:36
  Suze: your mortgage, and that's exactly what you are going to
• 12:40
  Suze: do with it. You are not going to invest it.
• 12:43
  Suze: There you go, KT.
• 12:45
  Suze: How was that?
• 12:46
  KT: That's why you're Suze Orman. I'm not.
• 12:49
  Suze: Pretty good. I can pull numbers like that..
• 12:51
  KT: You always could. OK, my next question is from a man.
• 12:57
  KT: I love these from Randy. He said, Hi, Suze and KT,
• 13:01
  KT: thanks for taking my question. I'm one of the guys
• 13:04
  KT: from Ohio that is smart enough to listen.
• 13:06
  Suze: There's a clue for all of you men out there.
• 13:10
  Suze: That's all you have to say.
• 13:12
  Suze: I'm one of the men smart enough to listen, and
• 13:14
  Suze: I have a feeling, Ms. Travis will pick it.
• 13:15
  KT: I will always pick it, always put you on top
• 13:17
  KT: of the list. My question concerns maximizing my HSA contribution
• 13:23
  KT: as I approach age 70. I'm a June baby. He's
• 13:27
  KT: like you, Suze. Yeah, little Gemini baby.
• 13:31
  KT: I'm a June baby. I'm a June baby and trying
• 13:34
  KT: to maximize my annual contribution in my 70th year before
• 13:39
  KT: I draw SSA checks and still avoid a federal six
• 13:44
  KT: month look back penalty. Does it make any sense for
• 13:48
  KT: me in my 70th year to make a January HSA
• 13:52
  KT: contribution and then delay SSA checks by a month? I
• 13:58
  KT: appreciate your feedback.
• 14:00
  KT: This is way out of my league.
• 14:02
  Suze: Do you even know what we're talking about?
• 14:03
  KT: No, I do not, way out of my league, Randy.
• 14:06
  Suze: Randy has a health savings account which is attached to
• 14:11
  Suze: a high deductible health insurance plan, and he's allowed to
• 14:18
  Suze: put money in every single year up to a max,
• 14:22
  Suze: and he can take that money and invest it in
• 14:25
  Suze: the HSA mutual fund that they offer.
• 14:28
  Suze: And once he turns 65 or older, he can use
• 14:33
  Suze: that money for any qualified medical expense that he may have,
• 14:39
  Suze: and he doesn't pay taxes on it when he takes
• 14:42
  Suze: it out and it was a tax deduction when he
• 14:46
  Suze: put it in. So big deal if you ask me.
• 14:50
  Suze: When you file for Social Security,
• 14:54
  Suze: you're automatically once you're 65 or older, you're automatically enrolled
• 15:00
  Suze: in Medicare Part A, but it's retroactive for up to
• 15:05
  Suze: six months, so that retroactive Medicare coverage makes HSA contributions
• 15:14
  Suze: for those months ineligible, and if they're ineligible and Randy
• 15:19
  Suze: works to put money in during that period,
• 15:22
  Suze: he could face tax penalties if he contributed during that period.
• 15:28
  Suze: So I know this sounds complicated, but in essence he's saying,
• 15:32
  Suze: can he postpone it for a month because if Randy's birthday,
• 15:37
  Suze: his 70th birthday is in June. Social Security. Now listen
• 15:42
  Suze: to this, everybody. Social Security is going to consider him
• 15:46
  Suze: to have reached age 70 in May.
• 15:50
  Suze: They use the month before your birth month, Randy.
• 15:55
  Suze: So if you file to start benefits in May, Medicare
• 15:59
  Suze: Part A would be retroactive back to November of the
• 16:03
  Suze: prior year, which wipes out HSA eligibility for contributions to
• 16:09
  Suze: that point. Here's the bottom line, sweetheart. Is it worth it?
• 16:15
  Suze: I just don't think it is worth for you to
• 16:19
  Suze: contribute one month extra of an HSA contribution,
• 16:24
  Suze: and give up one month of Social Security income.
• 16:30
  Suze: I just can't see it making sense. So therefore, don't
• 16:35
  Suze: do it, don't do it, don't do it.
• 16:38
  KT: So this is my next question, Suze. I have a
• 16:40
  KT: Roth quizzy. This is from Liz. Liz is 58 years old.
• 16:45
  KT: She has a $90,000 IRA
• 16:49
  KT: from previous employment she would like to gradually convert that
• 16:54
  KT: to a Roth. I understand the five year timeline, so
• 16:58
  KT: she's asking if she starts to convert with a small
• 17:02
  KT: amount when she converts more money, does the five year
• 17:06
  KT: rule kick in for each conversion? Does it start a
• 17:10
  KT: new timeline for every conversion?
• 17:14
  KT: She has conflicting information.
• 17:18
  Suze: You should see KT's face.
• 17:21
  KT: I think, I think that the five year rule, the
• 17:23
  KT: number is 59 and a half, and that's when the
• 17:26
  KT: penalty goes away. I'm, no, I, I know my stuff.
• 17:32
  KT: So I think that's all you need to worry about.
• 17:34
  Suze: That's
• 17:34
  Suze: not all you need to worry about.
• 17:36
  KT: OK, ok.
• 17:36
  Suze: Liz, there is a lot of conflicting information out there.
• 17:42
  Suze: And the answer has a lot to do with, do
• 17:45
  Suze: you already have a Roth that met the five year rule,
• 17:49
  Suze: or do you not? The age, all kinds of things.
• 17:53
  Suze: So therefore this Sunday in honor of you, Ms. Travis,
• 17:58
  Suze: I'm going to give a Suze school once again on
• 18:02
  Suze: this particular topic.
• 18:04
  KT: And I'm joining her. I'm going to join you. I'm
• 18:07
  KT: going to help everybody.
• 18:09
  KT: Because I... wait till they hear how much I learned
• 18:11
  KT: about Roth.
• 18:12
  Suze: KT, they don't care what you've learned about Roth. They
• 18:15
  Suze: care about what they need to learn about a Roth.
• 18:17
  KT: I'll be there, everybody. I'll be there Sunday.
• 18:20
  Suze: You are not going to be at my Suze School
• 18:22
  Suze: with me.
• 18:22
  KT: I'm gonna be there.
• 18:24
  Suze: All right, anyway, so that's what we're gonna do. So Liz,
• 18:28
  Suze: make sure you tune in because I think my answer's
• 18:31
  Suze: going to surprise a lot of you because you're really
• 18:35
  Suze: getting it wrong. All right, go on, OK.
• 18:37
  KT: OK, next
• 18:37
  KT: question is from Judy.
• 18:39
  KT: Judy said, I'm 64-year-old single woman who has been retired
• 18:43
  KT: three years thanks partly to your advice. Thank you, Susie,
• 18:49
  KT: she said. I have a quick question about AI. I
• 18:53
  KT: want to dabble with some of the money I can risk,
• 18:57
  KT: and I wanted to know what ETFs and or stocks
• 19:01
  KT: you suggest that I can start with for my AI investment.
• 19:06
  KT: Thanks for everything, and she said hello to KT. So Judy,
• 19:10
  KT: this is the first time I read this where people
• 19:13
  KT: have money to risk that doesn't sit well with Suze.
• 19:17
  Suze: KT, what did you hear me do the other day
• 19:20
  Suze: on the phone? I said, this is risk money, buy this.
• 19:24
  Suze: You absolutely...
• 19:25
  KT: Not with my money.
• 19:26
  Suze: No, you don't like risk.
• 19:28
  KT: I never...
• 19:29
  Suze: I don't care if you have money to risk. I
• 19:31
  Suze: want you to have money to risk. Why would I
• 19:33
  Suze: want
• 19:33
  Suze: that>
• 19:33
  KT: So answer her question. What does she do? What does
• 19:36
  KT: she invest in with AI?
• 19:38
  Suze: What you didn't tell me is how much money
• 19:41
  Suze: you have to risk. Therefore, the number one ETF that
• 19:47
  Suze: I would be telling you to buy if you're really
• 19:50
  Suze: interested in artificial intelligence is the ETF with the letters SMH.
• 19:58
  Suze: So that's what I would tell you to buy. That's
• 20:00
  Suze: what I've been telling everybody to buy for a long
• 20:04
  Suze: time right now because it actually has all of the
• 20:08
  Suze: AI stocks and the stocks in that category. Obviously my
• 20:14
  Suze: favorite AI stocks are Microsoft,
• 20:18
  Suze: Nvidia, AMD, and I can go on and on like that. However,
• 20:24
  Suze: I think the best way to start to dabble would
• 20:27
  Suze: be with SMH. And by the way, Apple, you've got
• 20:32
  Suze: to be invested in Apple. All right, KT, next question.
• 20:35
  KT: I'm invested in Apple, everybody.
• 20:38
  Suze: You've been invested in Apple a long, long since I've
• 20:41
  Suze: known you.
• 20:44
  KT: I got lots of apples. OK, ready. Next question is
• 20:47
  KT: from Betty. Hi, Suze and KT. My brother-in-law recently passed
• 20:52
  KT: and left my sister-in-law a million dollars life insurance benefit.
• 20:58
  Suze: Love that.
• 20:59
  KT: After making a budget, she'll be short $3,300 a month.
• 21:04
  KT: Her CPA and financial advisor recommend she takes out a
• 21:09
  KT: $518,000 lump sum
• 21:13
  KT: immediate annuity that will provide the income for life if,
• 21:18
  KT: and if she dies, ready for this, it'll pay her
• 21:21
  KT: beneficiaries for up to 10 years from starting the annuity.
• 21:26
  KT: She's 73 years old, in good health does not own
• 21:30
  KT: a home. The million dollars is all she has. The
• 21:35
  KT: advisor said
• 21:36
  KT: there's no fees, surrender charges, and everything is built in.
• 21:41
  KT: Whatever that means. She also wants to take out a
• 21:44
  KT: life insurance policy with a long-term care benefit for $150,000
• 21:50
  KT: that would provide $370,000 in long-term care for up to
• 21:56
  KT: four years. The commission on investments is about 1.05%, which
• 22:02
  KT: sounds reasonable to me.
• 22:05
  KT: I'm nervous for her to spend half of what she
• 22:07
  KT: has in a lump sum to provide only $3,300 in income,
• 22:14
  KT: but I know my sister-in-law would also feel secured with
• 22:17
  KT: guaranteed income. Betty wants to know, Suze, what do you think?
• 22:25
  KT: Can I tell everyone what your face looks
• 22:27
  KT: like?
• 22:27
  Suze: Yeah. Like always. I'll tell you what upsets
• 22:31
  Suze: me.
• 22:31
  KT: These CPAs and financial advisors.
• 22:36
  Suze: How old is Betty? How old is...
• 22:38
  KT: She's in good health. She's um 7,
• 22:41
  Suze: 73,
• 22:41
  KT: she's in good health. She doesn't own
• 22:43
  KT: a
• 22:43
  KT: home.
• 22:44
  Suze: Here's
• 22:44
  Suze: the scoop, everybody. I think this is horrific advice, horrific advice.
• 22:49
  Suze: When somebody says there's no fees, there's no commissions, there's
• 22:53
  Suze: no anything in it.
• 22:54
  KT: It's built in
• 22:55
  Suze: And it's built in. Well, why the hell would they
• 22:57
  Suze: want to do it then?
• 22:59
  Suze: Who's paying them to do that? They get 1.05% for
• 23:04
  Suze: other investment advice they're gonna give this person, but they
• 23:07
  Suze: don't make any money on this. Are you kidding me?
• 23:11
  Suze: They're probably going to get on an immediate annuity.
• 23:15
  Suze: Could be anywhere from 25,000 to 30 or 40,000 they're
• 23:18
  Suze: going to get a lot of money if she does this.
• 23:22
  Suze: That's number one.
• 23:24
  Suze: Number two, just let me explain to everybody how this
• 23:27
  Suze: annuity works. It's what's known as a 10 year certain annuity.
• 23:31
  Suze: So KT, she's the same age as you. She's 73
• 23:35
  Suze: and she's in good health, like she's in good health.
• 23:38
  Suze: So if anything were to happen between the day that
• 23:41
  Suze: she buys it and 10 years from now, what's left
• 23:46
  Suze: in that 10 year time period, so if in five
• 23:49
  Suze: years from now she's killed in a car crash, her
• 23:52
  Suze: beneficiaries get that $3300 a
• 23:55
  Suze: month for another five years. Once she lives past 10
• 23:59
  Suze: years and she dies, her beneficiaries don't get anything. So
• 24:05
  Suze: the first question has to be, does she have any
• 24:08
  Suze: beneficiaries that she cares about, because the truth of the
• 24:12
  Suze: matter is she could get the exact same income right now,
• 24:16
  Suze: not touch her principal. She could actually get more income
• 24:20
  Suze: and still have $518,000 to leave to her loved ones.
• 24:27
  Suze: I mean, I want you all to think about this,
• 24:30
  Suze: so it's just not something that she should be doing
• 24:34
  Suze: at this period in time in terms of the long
• 24:37
  Suze: term care, all right, but if I were all of
• 24:41
  Suze: you and I want you to listen to me closely,
• 24:44
  Suze: I do not get a penny for saying this, never
• 24:48
  Suze: have and never will.
• 24:50
  Suze: If you are interested in buying a long term care
• 24:54
  Suze: insurance policy of any kind, that's fine, but I would
• 24:58
  Suze: not buy it before I consulted with Phyllis Shelton, who,
• 25:03
  Suze: in my opinion, is one of the experts in long-term
• 25:07
  Suze: care in the entire United States. She has a whole
• 25:12
  Suze: staff that is so knowledgeable I cannot tell you if
• 25:17
  Suze: you went to the Women and Money community app.
• 25:20
  Suze: And you look where all those little boxes are when
• 25:23
  Suze: you first sign on, you will see long term care insurance,
• 25:28
  Suze: click there and it will tell you how you contact her.
• 25:32
  Suze: Right, I would do that, Betty. I would have your
• 25:35
  Suze: sister-in-law do this before she purchases anything from these people.
• 25:42
  Suze: The other thing here that I don't like is that
• 25:45
  Suze: you have both a financial adviser and an accountant, a CPA,
• 25:51
  Suze: both saying to do this. Now I'd like to know,
• 25:57
  Suze: does that CPA get a referral fee
• 26:00
  Suze: for referring it to a financial adviser and therefore they
• 26:04
  Suze: both are going to benefit. I would never ever ever
• 26:08
  Suze: do business
• 26:10
  Suze: with somebody who gets a referral fee when I used,
• 26:14
  Suze: like I just said right now with Phyllis Shelton, I
• 26:16
  Suze: don't get a referral fee. There is no way she
• 26:19
  Suze: can benefit me in any possible way. The only thing
• 26:23
  Suze: she can do is help you when you need help
• 26:27
  Suze: in picking out the right solution for you. You don't
• 26:30
  Suze: have to go with her if you don't want, but
• 26:32
  Suze: there's no fees to do so.
• 26:35
  Suze: So there you go, that's my answer, but Betty, I
• 26:39
  Suze: won't touch this annuity with a 10 ft pole.
• 26:45
  Suze: What I would touch, however, with a 10 ft pole.
• 26:48
  Suze: Is the podcast on Sunday where all of you are
• 26:52
  Suze: going to learn something you all need to know? I'll
• 26:55
  Suze: be there. Don't you hate that saying be there, be square. Anyway,
• 27:00
  Suze: that's besides the point. There's only one thing we want
• 27:03
  Suze: you all to remember when it comes to your money.
• 27:06
  Suze: And what is that, Ms. Travis?
• 27:07
  KT: It is people first, then money, then things, and you stay safe,
• 27:12
  KT: and I'll see you Sunday.
• 27:13
  Suze: There we go. Bye bye, everybody.