# Caution, Caution, Caution!

An episode of [Suze Orman's Women & Money (And Everyone Smart Enough To Listen)](https://invisiblenetwork.ai/podcast/1439621652), 11 Jun 2026, 34 min.

Audio: https://traffic.omny.fm/d/clips/2df1102a-5761-4c99-b489-aabd0161f8fe/44e0936e-923c-43c7-9e2a-aade00edf4d3/2faee278-0b28-46ea-b906-b466002d5751/audio.mp3?utm_source=Podcast&in_playlist=4e05fb00-5a5b-4ed9-b353-aade00edf4dd

On this Ask KT and Suze Anything episode, Suze answers your questions about the must-have docs and special circumstances, retirement accounts, smart ways to invest and so much more. Learn more about the Ultimate Scam Protection here: SuzeOrman.com Watch Suze’s YouTube Channel Jumpstart financial wellness for your employees: https://bit.ly/SecureSave Protect your financial future with the Must Have Docs: https://bit.ly/3Vq1V3G Get your savings going with Alliant Credit Union: https://bit.ly/3rg0Yio Get Suze’s special offers for podcast listeners at suzeorman.com/offer Join Suze’s Women & Money Community for FREE and ASK SUZE your questions which may just end up on the podcast. Download the app by following one of these links: CLICK HERE FOR APPLE: https://apple.co/2KcAHbH CLICK HERE FOR GOOGLE PLAY: https://bit.ly/3curfMI See omnystudio.com/listener for privacy information.

## Transcript

[0:08] Suze: June 11, 2026. Welcome everybody to the Women and Money
[0:12] Suze: podcast and Everybody Smart Enough to Listen. Today is what KT?
[0:20] KT: (KT laughs)
[0:22] KT: She just looked at me with an evil eye when
[0:25] KT: she said, and everyone smart enough to listen because I
[0:29] KT: don't listen enough to Miss Suze. Today's June 11th. It's Thursday.
[0:36] KT: It's almost...
[0:37] Suze: KT, I just said it was June 11th.
[0:40] KT: But... so why'd you say, what is it? What is this?
[0:42] Suze: This is, I'm telling you, do you see everybody, why
[0:45] Suze: I gave her that eye? It is the Ask KT
[0:48] Suze: and Suze Anything edition, because I can tell when she
[0:52] Suze: is not present.
[0:54] Suze: I pushed the button to start recording. We're all good...
[0:57] KT: Are we on?
[0:58] Suze: I'm gonna absolute. Are you kidding me?
[1:01] KT: OK, let's get started.
[1:03] Suze: No, KT, really, there are things that I want to
[1:06] Suze: talk about first. All right.
[1:08] Suze: So number one, today is the anniversary, KT, of Brett
[1:14] Suze: and Alexis, my niece. It's their anniversary today.
[1:17] KT: How years have they been married?
[1:18] Suze: Too many. No, I don't know.
[1:20] KT: The kids are teenagers, so probably at least 20.
[1:24] Suze: A lot, but anyway...
[1:26] KT: Maybe 20 years.
[1:26] Suze: Happy anniversary to the two of you.
[1:29] KT: What a beautiful couple too.
[1:31] Suze: And children. Stunning anyway...
[1:33] KT: Alexis looks like a young Suze.
[1:36] Suze: Lucky her, lucky her.
[1:37] KT: She does look so much like her Aunt Suze.
[1:39] Suze: Right? So, but no, but truthfully, the other thing, and
[1:43] Suze: this one is very, very important. Guess what ended last night?
[1:49] Suze: The birthday pricing for
[1:52] Suze: the Must-Have Documents and the Ultimate Scam Protection is over.
[1:57] Suze: We had told all of you that it was going
[1:59] Suze: to end on June 8th, about midnight Pacific time, but
[2:04] Suze: there was such an overwhelming demand for it,
[2:07] Suze: that we thought, OK, let's extend it two more days,
[2:11] Suze: but it is now officially over. So what does that mean?
[2:16] Suze: That means the Must-Have Documents has gone back up to
[2:19] Suze: $99 and the Ultimate Scam Protection has gone back up
[2:25] Suze: to $95.88 a year, not just one time only like
[2:30] Suze: the Must-Have Documents, that is per year. Now something that's
[2:35] Suze: very important for you to know.
[2:38] Suze: And I said this in the webinar, in the podcast,
[2:41] Suze: and it has come to pass. June 21st, the first
[2:47] Suze: day of summer. The Must-Have Documents, I have been told
[2:51] Suze: now are going to go up to $153. You need
[2:57] Suze: to know that. So between now
[3:00] Suze: and June 20th it will be $99. Starting June 21st
[3:06] Suze: it will be $153. Listen, Hay House has been wanting
[3:11] Suze: to raise those prices now for years.
[3:13] KT: For over a year...
[3:15] Suze: For years because of the cost to keep everything going.
[3:17] Suze: I keep saying, no, no, please keep it $99. However,
[3:21] Suze: they are now raising it, so if you missed the
[3:25] Suze: birthday pricing,
[3:27] Suze: you have until June 20th to get it for $99. Remember, everybody,
[3:32] Suze: it is $2,500 worth of state of the art documents
[3:36] Suze: that you don't pay for updates. You can share it,
[3:39] Suze: but it's worth it. It's really, it's more, it's actually
[3:43] Suze: really more than worth it even at $153. So go
[3:48] Suze: to musthavedocs.com.
[3:51] Suze: That's where you can get it or just go to
[3:54] Suze: suzeorman.com and it's right there on the front page. All right, KT, now...
[4:00] KT: Actually my first question is about Must-Have Docs.
[4:03] Suze: Oh, OK, go. All right.
[4:05] KT: And, and this is perfect timing.
[4:08] KT: Hi Suze, I have a question for you regarding the
[4:11] KT: Must-Have Documents. My husband and I have gotten everything in place,
[4:16] KT: but what happens if I were to die before him
[4:20] KT: and he remarries?
[4:22] Suze: Chances are he will.
[4:24] KT: I know...
[4:24] Suze: he's he absolutely will.
[4:25] KT: He probably will.
[4:26] Suze: I just have to say this...
[4:27] KT: Men remarry right away.
[4:29] Suze: Men remarry like sometimes, honest to God, within three months.
[4:32] KT: Yeah, and before years out.
[4:34] Suze: Right? So anyway, all right, go on.
[4:36] KT: Is there something that I can put in the will
[4:38] KT: or trust that will prevent the current wife from inheriting
[4:44] KT: my assets? I want to protect our two adult girls.
[4:49] KT: See, she even said the current wide.
[4:51] Suze: The current wife, so she knows what's gonna happen there. Listen,
[4:55] Suze: here's what's important to understand. You have two choices here.
[5:01] Suze: You could have separate wills and trusts and everything. What's
[5:06] Suze: in your name, what's in his name. When you die,
[5:10] Suze: your half automatically does what it goes to your girls
[5:14] Suze: and not your spouse, however...
[5:17] Suze: You may not want to do that as well, cause
[5:20] Suze: you may want him to be able to have certain things,
[5:24] Suze: live in the house, things like that. But if I
[5:27] Suze: were you, I have to tell you the Must-Have Documents,
[5:30] Suze: in my opinion, don't help you here.
[5:33] Suze: In that they're not that complicated unless you want to
[5:37] Suze: do separate Must-Have Documents, which you can absolutely do. Listen, KT
[5:42] Suze: and I have separate wills, trusts, and everything. We do
[5:46] Suze: not have a joint one, just so you know. However,
[5:50] Suze: what you could do is go and see a lawyer
[5:53] Suze: and look into getting a marital trust, a family trust.
[5:57] Suze: A bypass trust, a Q-Tip trust. There are all kinds
[6:00] Suze: of solutions that will solve your concern. I don't think
[6:05] Suze: the Must-Have Documents are detailed enough for you to accomplish what
[6:10] Suze: you want. So bottom line, go and see a trust
[6:13] Suze: lawyer or leave it all to your kids and let
[6:17] Suze: your husband do what he wants and let your kids
[6:19] Suze: be in charge of your husband. Just saying I'm not
[6:21] Suze: sure that's what you want.
[6:23] Suze: But it's interesting that she's thinking that way. Don't you
[6:26] Suze: think that's interesting?
[6:27] KT: Well, she kind of has an inkling maybe, but it's,
[6:31] KT: it's also something that she wants to make sure if
[6:35] KT: he does remarry that her kids are OK.
[6:38] Suze: But, however, you have to be very careful because remember, KT...
[6:43] Suze: Whenever you designate a beneficiary like in a retirement account
[6:48] Suze: and or a life insurance policy, even if you have
[6:52] Suze: a trust or a will that says other, when you
[6:56] Suze: designate a beneficiary, it overrides the wishes of your trust
[7:00] Suze: or wills. So if in her retirement account, if she
[7:04] Suze: has one, if she designated that her husband was the
[7:09] Suze: primary beneficiary of it, guess what?
[7:13] Suze: It all goes to him, and now she has no
[7:16] Suze: control over that whatsoever. So could she put the trust
[7:20] Suze: as the primary beneficiary? It gets very complicated at that
[7:25] Suze: point for many reasons, because a trust doesn't have the
[7:28] Suze: same rights as a spouse. And not only that, this
[7:32] Suze: is very important about what I am to say to
[7:35] Suze: all of you.
[7:36] Suze: You have a trust and you say that my half
[7:41] Suze: goes where to my children and that's where you think
[7:45] Suze: it's going to go. However, if you own a home
[7:50] Suze: in joint tenancy with right of survivorship, if you own
[7:54] Suze: a brokerage account, anything and joint tenancy with right of survivorship,
[7:59] Suze: you own a bank account, whatever it may be.
[8:04] Suze: The way that you hold title,
[8:09] Suze: overrides anything that you say in your trust or will.
[8:15] Suze: So even if you think that you've covered it in
[8:18] Suze: your individual trust and that when you die your money's
[8:22] Suze: going to go to your kids, it depends on how
[8:26] Suze: you've done it, which is why I'm saying to you,
[8:30] Suze: go and see an estate lawyer. See, aren't you happy
[8:35] Suze: that we're so simple.
[8:37] KT: Yeah,
[8:38] Suze: Really.
[8:39] KT: Everything I have goes to Suze. Everything she has would
[8:42] KT: go to KT.
[8:43] Suze: Now, but here's what's key about that, everybody. We both
[8:47] Suze: have the rights to change anything that we want to
[8:52] Suze: change when that happens, but we do trust each other
[8:56] Suze: to know that we will abide by each other's wishes
[9:01] Suze: and not change them.
[9:03] Suze: And just, you know, honor what each of us want.
[9:07] Suze: Just that simple. But the majority, seriously, the majority of
[9:10] Suze: our estate goes to what kt?
[9:12] KT: Hospitals.
[9:13] Suze: That's right, medical research and hospitals. All right.
[9:17] KT: We love that. OK, so next question is this: This
[9:20] KT: is to Suze and KT. I have to admit I'm
[9:23] KT: a
[9:23] KT: latecomer to your podcast and at the age of 55
[9:27] KT: I feel so overwhelmed. I have a ton of questions,
[9:31] KT: but the one that keeps coming to mind is about
[9:34] KT: my 401(k) and 457(b). My job currently matches both accounts
[9:41] KT: up to 4%. All right, so the question is.
[9:46] KT: Should I contribute to my 457(b) or should I contribute
[9:53] KT: to my Roth 401k since it's after taxes? Great So remember,
[9:58] KT: age 55 here.
[10:00] Suze: All right, great question and great that you said age 55 KT. However,
[10:07] Suze: here's the thing, you can do both. You can have
[10:09] Suze: your cake and eat it too, and you should.
[10:12] Suze: Because a 457, everybody is an account that you put
[10:17] Suze: money in before taxes. It's with your company, and this
[10:21] Suze: company matches up to 4%, the same as her company
[10:26] Suze: matches for the Roth 401k.
[10:29] Suze: So why not contribute to both up to the point
[10:33] Suze: of the match, cause that's a guaranteed 4% on your money.
[10:37] Suze: After that, however, I personally would then be maxing out
[10:41] Suze: my Roth 401(k) and hey, if you have even more
[10:46] Suze: money than that.
[10:47] Suze: Well, you can go back to the 457, but I
[10:50] Suze: have a feeling that may max you out totally as
[10:54] Suze: to what you're doing for retirement. Next question.
[10:56] KT: OK. Next question is from Chris. Hi, Suze. My question
[11:00] KT: is about mutual funds. I have a bunch of them
[11:03] KT: in my 401(k) which I opened over the years. I
[11:07] KT: have not touched them for decades. I hear what you're
[11:11] KT: saying about
[11:12] KT: ETFs and I have invested in some of those as well.
[11:16] KT: My question is, should I sell the mutual funds and
[11:20] KT: transition that money into ETFs, or should I keep holding
[11:25] KT: the mutual funds? I'm swiftly approaching 70 and will start
[11:30] KT: collecting Social Security then. Right now I'm living comfortably off
[11:35] KT: my nest egg.
[11:36] KT: There you go. That's from Chris.
[11:38] Suze: And this, you see, everybody, when you write me a
[11:41] Suze: question like this, it's very difficult for me to answer
[11:44] Suze: because I don't know what mutual funds, I don't know
[11:48] Suze: the expense ratio of those mutual funds. I don't know
[11:52] Suze: what those mutual funds are actually invested in. So, Chris,
[11:56] Suze: here's what I would tell you.
[11:58] Suze: I would look at the investments in each one of
[12:01] Suze: those mutual funds and see if they overlap. 12, what
[12:06] Suze: is the expense ratio of those mutual funds and do
[12:10] Suze: they make sense? Are they managed mutual funds or are
[12:14] Suze: they indexed funds? Because remember, a managed mutual fund or ETF.
[12:19] Suze: In most cases is going to have a higher expense ratio.
[12:24] Suze: What has been the returns of those mutual funds in
[12:28] Suze: comparison to the Standard and Poor's 500 mutual fund or ETF?
[12:34] Suze: Have they been outperforming the S&P or not? Because any
[12:39] Suze: ETF out.
[12:41] Suze: There or mutual fund out there. Your goal is to
[12:46] Suze: either if you're in a Standard and Poor's index fund
[12:49] Suze: or ETF, of course, you're going to do what that does.
[12:52] Suze: But if you're in any other fund or ETF, you
[12:56] Suze: want to know that it's outperforming the S&P 500,
[13:03] Suze: including the expense ratio, and that goes for every ETF
[13:08] Suze: and mutual fund. Now, sometimes you have to give them
[13:12] Suze: years if they're new and they're just out, but that's
[13:17] Suze: what you're looking at. Then you need to look at
[13:19] Suze: your goal of what you want for this money. If
[13:23] Suze: you've already been in there a number of years, you
[13:26] Suze: already paid the load.
[13:28] Suze: It's already paid for. So look at the performance, look
[13:32] Suze: at what you need from your money. I know I
[13:35] Suze: like ETFs better than mutual funds, but that doesn't mean
[13:38] Suze: for those of you who have mutual funds, you need
[13:42] Suze: to get out of them.
[13:44] Suze: There are great mutual funds. I just like the liquidity
[13:48] Suze: of ETFs better for many reasons, just that simple. So, Chris,
[13:53] Suze: I can't help you except to have given you how
[13:56] Suze: you need to go about making sure what you have
[13:59] Suze: is what you need. Next question, KT.
[14:02] KT: So this is from Sharon, and I like this one
[14:04] KT: a lot, Suze. She's really...
[14:06] Suze: You like them all a lot.
[14:07] KT: No, she's this one is a mom who's really trying
[14:09] KT: to guide a 29 year-old daughter, and that 29 year-old
[14:14] KT: daughter is totally ripe for these investments.
[14:17] KT: Hello Suze, I'm trying to help our 29 year old
[14:20] KT: daughter reallocate some of her funds in her company 401(k).
[14:26] Suze: Hopefully it's a Roth 401(k).
[14:28] KT: Wait a minute. She has her contribution going into a Roth 401(k).
[14:33] KT: But listen to this. Of course, the advisor that
[14:37] KT: assisted her persuaded her to put the largest portion of
[14:42] KT: her contribution into a Vanguard target date fund. I'm trying
[14:48] KT: to encourage her to make note of the expense fees
[14:51] KT: in these funds and educate her early. Plus, I, like you,
[14:56] KT: don't think Target.
[14:58] KT: Date Funds are the way to go. She also has
[15:01] KT: an S&P fund and a couple of other funds. I
[15:05] KT: realize she can sell and move out of accounts without
[15:08] KT: triggering any tax consequences since it's in a 401(k). Just
[15:14] KT: not sure what is the best way to move out.
[15:18] KT: There you go.
[15:20] Suze: Well, you have two things going here right now. Number one,
[15:24] Suze: what's best for her money.
[15:26] Suze: And what's best for her self-esteem and her own empowerment.
[15:32] Suze: I don't want you to raise a daughter who is
[15:35] Suze: dependent on Mommy and what Mommy wants to do. I
[15:40] Suze: want her to make decisions on her own. Just that simple.
[15:45] Suze: Now I'll give you an example of my niece Sophia,
[15:48] Suze: who I love more than life itself. I wanted her
[15:52] Suze: to do certain things with her Roth IRA. I did. However,
[15:57] Suze: she wasn't comfortable in doing that.
[16:00] Suze: So we talked about it and she decided what she
[16:04] Suze: was comfortable in, and I was fine accepting that because
[16:09] Suze: she made the decision. She feels good about it, and
[16:12] Suze: now she is empowered to make her own decisions. Of course,
[16:16] Suze: she checks with Aunt Suze, but it's more important for
[16:19] Suze: Aunt Suze to empower her, to encourage her, and for
[16:24] Suze: her to feel secure in what she wanted to do.
[16:29] Suze: So I think it's important that you sit down with
[16:31] Suze: your daughter and you ask her, not tell her. You
[16:35] Suze: ask her why did she make those decisions. Does she
[16:39] Suze: feel good about them? Did she trust the adviser that
[16:43] Suze: was telling her what to do, because here's the truth,
[16:46] Suze: the target date mutual fund that she's in right now
[16:50] Suze: is probably all in the Standard and Poor's 500 index
[16:54] Suze: cause she's so young.
[16:56] Suze: So is she duplicating her investments? So I think it
[17:00] Suze: would be a great exercise to say, hey, let's go
[17:04] Suze: and look up what the top holdings are in all
[17:08] Suze: the mutual funds that you own, and let's see if
[17:11] Suze: there's any duplication.
[17:13] Suze: Let's look at what the expense ratio is in all
[17:17] Suze: the mutual funds that you own and see if there's
[17:19] Suze: a difference there and maybe are you better off just
[17:23] Suze: being in a Standard and Poor's 500 index fund, which
[17:27] Suze: she probably is, by the way, and that's it. So
[17:31] Suze: just look at everything she's invested in.
[17:35] Suze: And let her make the decisions where she on her
[17:39] Suze: own feels comfortable. Now, maybe she won't make as much money,
[17:45] Suze: but people first, then money, then things. Next question, KT.
[17:51] KT: So, Suze, this is from Jennifer, who's 68 years old.
[17:55] KT: She said, I have a question. For IRAs, you often
[17:58] KT: advise whether young or old, you recommend only investing in
[18:03] KT: Roth IRAs. I own my own small business and I've
[18:07] KT: been investing in SEP IRAs.
[18:10] KT: How are they different and should I consider investing instead
[18:14] KT: in Roth IRAs?
[18:16] Suze: Well, why not have your cake and eat it too, OK,
[18:19] Suze: because you can actually do both. You can invest in
[18:23] Suze: a SEP IRA up to a maximum of 25% of
[18:27] Suze: your income, no more than 72,000 a year, and have
[18:31] Suze: a Roth IRA if your modified adjusted gross income qualifies. However,
[18:38] Suze: you can also, if you want, convert money from your
[18:44] Suze: SEP IRA into your Roth. Now, you are 68 years
[18:48] Suze: of age, and you have to decide how long you're
[18:52] Suze: gonna work. So maybe you wait until your income goes
[18:55] Suze: down dramatically after you're no longer working, and then you
[18:59] Suze: start to convert some of the money from your SEP
[19:02] Suze: IRA into your Roth, so you don't add to your income.
[19:08] Suze: In the meantime, fund the Roth IRA up to your
[19:11] Suze: max of $8,600 a year since you are over 50.
[19:17] Suze: Here's what's so sad, everybody. Few years ago with Secure 2.0,
[19:23] Suze: they decided, all right, you can all have a Roth
[19:26] Suze: SEP IRA, but good luck finding one. I've researched Schwab.
[19:33] Suze: Vanguard stated they're not going to allow them. E-Trade. Nobody
[19:37] Suze: wants them, so you can always go from a SEP
[19:41] Suze: IRA and convert to a Roth IRA. Just remember you
[19:46] Suze: owe taxes on any amount that you convert. All right, next.
[19:50] KT: OK, this is a question for you, and the subject
[19:53] KT: was when to take gains off the table.
[19:57] KT: Hi Suze. Question. I've heard Fitzy say if you've doubled
[20:01] KT: your money in a stock or ETF, you can take
[20:06] KT: the gain and leave the original amount in to continue
[20:10] KT: to grow, hopefully. Did I hear that correctly?
[20:14] Suze: Yes and Fitzy, everybody is Keith Fitz-Gerald...
[20:17] KT: Fitzy's like her brother.
[20:18] Suze: ... and he has something called a free trade where
[20:23] Suze: if you buy something and let's say you buy it
[20:26] Suze: at 50.
[20:27] Suze: And it goes to 100, then take half off the
[20:32] Suze: table and just leave, meaning you sell, take your gain,
[20:36] Suze: and then everything that's remaining, the other 50% that you
[20:39] Suze: left in there, which was your obviously your original investment,
[20:44] Suze: it's free money. So no matter what happens after that,
[20:48] Suze: you're fine. However,
[20:51] Suze: Not that I like to disagree with him very often, but, however,
[20:56] Suze: it depends. I want to tell you, it depends, where
[21:00] Suze: is that money held? Is it in a retirement account
[21:05] Suze: or is it not?
[21:06] Suze: Because if it's in a retirement account, OK, you can
[21:10] Suze: sell half, no tax consequences, but if it's not in
[21:14] Suze: a retirement account and depending on what state you live in,
[21:19] Suze: let's say, and this has happened, I've seen it happen,
[21:22] Suze: that you buy something, it goes from 7 to 14,
[21:25] Suze: you bought a lot of it, or 25 to 50
[21:30] Suze: within less than a year.
[21:32] Suze: That means when you sell, you're going to owe ordinary
[21:36] Suze: income taxes on it and if you're in a high
[21:39] Suze: state tax bracket as well as federal, you may end
[21:44] Suze: up giving the majority of that gain back to the
[21:47] Suze: government in taxes. So all of a sudden you don't
[21:51] Suze: have a 100% gain there and then was it worth it?
[21:58] Suze: So sometimes it's worth it and sometimes it's not. I
[22:01] Suze: would not say that's a hard and fast rule for everybody.
[22:05] Suze: It depends, in my opinion, your tax bracket, the state
[22:09] Suze: you live in, and is it inside or outside of
[22:12] Suze: a retirement
[22:13] Suze: account and is it going to be a long or
[22:16] Suze: short term gain? You have to take all of that
[22:19] Suze: into consideration. Nothing is a hard and fast rule. Yes, KT.
[22:24] KT: So that's interesting you disagree with your Fitzy.
[22:27] Suze: Just listen.
[22:29] Suze: I love him very much, but I have my opinions.
[22:32] Suze: He has his opinions. I trust him and honor him
[22:36] Suze: and normally do everything like he would want in terms
[22:40] Suze: of stock picking ETFs and things like that, but I
[22:43] Suze: do have my own way of thinking about things...
[22:46] KT: And he defers to you also.
[22:47] Suze: Sometimes. So that's all. That's just how I think about it.
[22:51] Suze: Doesn't make him wrong. Doesn't make me right, although I
[22:54] Suze: think it does. Go on. All right.
[22:57] KT: I agree with Suze. OK.
[22:59] Suze: Of course, because you're married to me.
[23:00] KT: All right, this is from Rushali. This is a very
[23:04] KT: sweet email, and, and, um, and I was thinking a
[23:07] KT: lot about her. She said, first and foremost, Suze, I
[23:11] KT: wanna thank you for being a role
[23:12] KT: model for women like me all around the world. I
[23:17] KT: am an Indian woman who's been living in Oklahoma City
[23:21] KT: for 22 years, and I recently became a US citizen
[23:25] KT: six years ago.
[23:26] Suze: Congratulations.
[23:27] KT: Yeah, good for you, she said. Though sadly, Suze, eight
[23:31] KT: years ago my husband took his own life after he
[23:35] KT: got laid off from his job in 2018.
[23:40] KT: I am a 48-year-old widow with two girls, one is
[23:44] KT: 14 and another 17. I inherited his stocks worth $1.8
[23:50] KT: million now and his IRA worth about $1.2 million. The
[23:57] KT: house is paid off. I have no debt. My daughter
[24:00] KT: just got free tuition for four years to Vanderbilt. Wow,
[24:04] KT: smart daughter.
[24:06] KT: I work at IT and make $65,000 annually. Please let
[24:11] KT: me know if I need to buy a home or
[24:14] KT: invest in the stock market. Your advice is greatly appreciated.
[24:19] KT: So sweet, right? So I'm thinking he, he died eight
[24:22] KT: years ago, which means she was a single mom with
[24:26] KT: two very small girls.
[24:28] Suze: So she was 40 years old when this happened. You
[24:30] Suze: know what's a little confusing to me about this one?
[24:34] Suze: Obviously they had money, house, every, I mean, maybe he
[24:39] Suze: had an insurance policy which allowed them to pay the
[24:41] Suze: house off, so you get laid off from a job.
[24:46] Suze: Right? And you commit suicide. How sad is that? You know, everybody,
[24:51] Suze: I want you to just think about that. Please don't
[24:54] Suze: let your job define you. Please don't think that your
[24:58] Suze: world has come to an end, because wherever you worked,
[25:01] Suze: all of a sudden is saying that they don't need you,
[25:04] Suze: so maybe you feel worthless. So, not exactly sure what
[25:08] Suze: happened there, but what I am sure about is that
[25:12] Suze: this woman is financially set.
[25:16] Suze: Totally.
[25:17] Suze: And so her questions are, after eight years of being OK,
[25:22] Suze: I have to wonder why is she questioning that right now.
[25:26] Suze: Did somebody approach her, because her question about should I
[25:30] Suze: buy a home when she already has a home, as
[25:34] Suze: her girls are getting older and will probably be out
[25:37] Suze: of the house soon, who approached her,
[25:41] Suze: and told her that she needs to take some of
[25:44] Suze: this money, buy a house, do whatever. I'd have to
[25:47] Suze: know exactly what she is invested in and everything to
[25:51] Suze: tell her. And by the way, I will contact her directly, KT,
[25:55] Suze: because every widow deserves that if you ask me. But
[25:59] Suze: if you're hearing this now, please don't do anything till
[26:04] Suze: you hear from me.
[26:06] Suze: And especially when it comes to these sums of money,
[26:09] Suze: this will not be something that I do over email.
[26:13] Suze: I will ask you for your phone, and I will
[26:16] Suze: call you personally so you can hear my voice, so
[26:20] Suze: you know without a shadow of a doubt that it's
[26:22] Suze: not a scammer, this is not fraud. This is something
[26:26] Suze: that I want to make sure that you are protected.
[26:30] Suze: You deserve that.
[26:32] Suze: But I find that very interesting, her question at this
[26:35] Suze: point in time. All right, KT, what else you got?
[26:38] KT: So next question. I'm 54. I need a little advice, Suze.
[26:42] KT: I have $600,000 to invest. I have talked to two
[26:48] KT: different investment firms. They're both charging 1.5%, which is high.
[26:54] KT: One firm is Fisher. The other is TMG Marketing,
[26:58] KT: which stated they open accounts with Fidelity and Schwab. Can
[27:02] KT: I just do this on my own? I have a
[27:04] KT: Roth IRA with $400,000 and a traditional with $200,000. I'm
[27:10] KT: too old to be starting over. Help, please.
[27:13] Suze: It just depends. You see these expense ratios and you
[27:18] Suze: think it's too expensive. You see what advisors are charging
[27:22] Suze: to manage your money. You think it's too expensive.
[27:26] Suze: So, you have to judge yourself, are the advisors or
[27:30] Suze: the expense ratios worth it? Because in the long run,
[27:35] Suze: they will make you more money than you can make
[27:38] Suze: for yourself.
[27:39] Suze: You could easily do this on your own. You could
[27:43] Suze: easily do many of the ETFs that I've talked to
[27:45] Suze: you about, many of the individual stocks. You can start
[27:49] Suze: by dollar cost averaging and see how that feels. In
[27:53] Suze: the meantime, you might want to put a lot of
[27:55] Suze: this money just in a money market account or something,
[27:58] Suze: so at least it's making an interest rate for yourself
[28:01] Suze: and see how that feels. It's not the firm.
[28:06] Suze: That you're going to, that determines if they're gonna make
[28:09] Suze: you money or not. It is the advisor that works
[28:13] Suze: at that firm.
[28:16] Suze: What is their track record? Will they let you speak
[28:18] Suze: to other people that they've managed their money? Has the
[28:21] Suze: adviser made at least 5% more a year than the
[28:26] Suze: Standard and Poor's 500 index after fees? All of that
[28:31] Suze: is important with anything, otherwise you are just better off
[28:36] Suze: in an ETF
[28:38] Suze: that's the Standard and Poor's 500 index, just that simple,
[28:42] Suze: or any of the other ETFs seriously that I've mentioned
[28:46] Suze: for a long time on this podcast. You know, maybe
[28:50] Suze: on Sunday, I'll go over some of my faves again,
[28:53] Suze: fave stocks, and I'll talk about that and I'll address this.
[28:57] Suze: But I personally think a lot of people have what
[29:01] Suze: it takes to do it on their own.
[29:03] Suze: That doesn't mean that you don't take some of your
[29:05] Suze: money and put it into managed ETFs, you know, SMH
[29:10] Suze: has always been one of my very, very favorite. Just saying.
[29:14] Suze: So you're going to have to make this decision. However,
[29:17] Suze: I'm going back to: nobody ever asks a question
[29:23] Suze: like this that they don't know the answer to. So
[29:27] Suze: before you hand over this money to somebody that you
[29:30] Suze: really maybe don't know, why don't you give it a
[29:33] Suze: try on your own and see how it feels. But
[29:36] Suze: if you do that, you make sure you dollar cost average,
[29:40] Suze: you go very, very slowly. I don't care what you
[29:44] Suze: are investing in.
[29:46] Suze: This is the time little amounts of money, dollar cost average,
[29:52] Suze: because I still don't like what's happening over in Iran
[29:55] Suze: and anything can go wrong that way at any time.
[30:00] Suze: So can we just go really slow for right now.
[30:04] KT: Caution. Caution, caution.
[30:06] Suze: It is. I am very...
[30:07] KT: Suze's been really cautious lately, even with our own money.
[30:11] Suze: Yeah.
[30:11] KT: Very cautious.
[30:12] Suze: I don't care who, what, just be cautious right now.
[30:17] Suze: And as things go down, OK, little by little, if
[30:21] Suze: you like the investment, follow it down, but I would
[30:25] Suze: probably think most investments are going down right now.
[30:30] Suze: All right, KT, I guess that's it. Is that it?
[30:32] KT: No, no, no, I have one last one that's for me.
[30:36] KT: This isn't a. This isn't a question. I want to
[30:39] KT: share this. This is, this is about KT's summer reading list.
[30:43] KT: You ready?
[30:44] Suze: Who wrote you about what you should read?
[30:46] KT: This is from Megan, and Megan, I love that you
[30:49] KT: addressed this, and, and I'm gonna take you up on it.
[30:52] KT: She said, sometimes I feel like the universe is talking
[30:56] KT: to me, and today was one of those days. I
[31:00] KT: was listening to your Thursday podcast when KT said something
[31:04] KT: about Roth's. She said, so this message is really for KT,
[31:10] KT: but a bit for Suze as well. So I love this.
[31:14] KT: She said, I'm a teacher and my school is doing
[31:16] KT: a book study this summer on
[31:18] KT: The book Limitless Mind, if you haven't read it, it's
[31:23] KT: about having a growth mindset as opposed to a fixed mindset.
[31:29] KT: A growth mindset is a belief that one can change
[31:33] KT: their abilities and knowledge through effort, learning, and persistence. That
[31:38] KT: part's for KT.
[31:40] KT: So she said, I personally think that you might be
[31:43] KT: able to shift your mindset to start believing in the
[31:47] KT: power of yet, as in, I haven't figured out Roth's yet, Suze.
[31:54] KT: And then Megan said, I know you can do it
[31:56] KT: if you set your mind to it, KT. I think
[31:59] KT: Suze believes this too, but I'm not convinced you do.
[32:03] Suze: So KT, where in there is it for me?
[32:05] KT: OK, so she said, Suze called you smart, which is
[32:08] KT: a word I actually try hard not to use as
[32:12] KT: a teacher because it implies that we either know things
[32:17] KT: or we don't.
[32:18] KT: And it doesn't encourage the kids or KT to think
[32:23] KT: about what they don't know but could learn.
[32:26] KT: Isn't this great? I love this. Everyone. Limitless Mind.
[32:31] Suze: So are you gonna...
[32:31] KT: Joe Bowler's book. Joe Bowler, I guess, is the author.
[32:35] Suze: So are you ordering it?
[32:35] KT: No, you're gonna order it for me today from Amazon.
[32:38] Suze: No, I am not. You are going to order it
[32:41] Suze: for yourself...
[32:42] KT: Limitless Mind.
[32:44] Suze: ... and we are going to read it together.
[32:47] KT: I love that. Maybe I'll do some excerpts of
[32:49] KT: what I've learned about Roth while I'm learning about Limitless Mind.
[32:54] KT: Do you like that, Suze, my summer reading? I like it.
[32:57] Suze: I'll tell you after you've read it. All right, everybody, Sunday,
[33:03] Suze: Suze School. I'll give you an update on things that
[33:05] Suze: I think, and, but I always do anyway, don't I?
[33:09] Suze: And remember,
[33:11] Suze: birthday pricing has gone away, so I hope you took
[33:16] Suze: advantage of it, but especially for the Must-Have Docs. Remember
[33:21] Suze: the $99 at musthavedocs.com goes away on June 20th, and
[33:27] Suze: on June 21st as the sun rises, first day of summer,
[33:32] Suze: it will be $153. So please, if you're gonna do it,
[33:38] Suze: now is the time.
[33:40] Suze: But really, KT, there's only one thing that we want
[33:43] Suze: people to remember, and what is that, my love?
[33:45] KT: That it's people first, then money, then things, now you...
[33:50] KT: Now you...
[33:52] Suze: She's pointing at me. She's pointing at me still. Now,
[33:56] Suze: what should I do?
[33:57] KT: Stay safe.
[33:58] Suze: All right, everybody, bye bye.

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