# Is It Ok To Be Naughty With Your Money?

An episode of [Suze Orman's Women & Money (And Everyone Smart Enough To Listen)](https://invisiblenetwork.ai/podcast/1439621652), 18 Jun 2026, 34 min.

Audio: https://traffic.omny.fm/d/clips/2df1102a-5761-4c99-b489-aabd0161f8fe/44e0936e-923c-43c7-9e2a-aade00edf4d3/9d0db4a0-fb2d-4e14-bc5d-b46c01789c3a/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 where to start investing, online scams, Roths 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 18th, 2026. Welcome everybody to the Women and Money
[0:13] Suze: podcast and everybody smart enough to listen. Today is the
[0:17] Suze: Ask KT and Suze Anything edition. But before we begin, KT,
[0:23] Suze: just wait, wait one second, I'll get to you in
[0:24] Suze: one second. I need to remind you of something that's very,
[0:28] Suze: very important.
[0:30] Suze: Remember, June 21st, just a few days from now, is
[0:35] Suze: the very last day that you can get the Must-Have
[0:38] Suze: Documents for $99. On June 22nd, they go up to $153.
[0:49] Suze: So if there was ever a time now, if you
[0:51] Suze: missed the birthday pricing.
[0:53] Suze: That you still want to do it, or you've been
[0:55] Suze: thinking about doing it, now is the time. Go to Musthavedocs.com.
[1:01] Suze: You can also go to SuzeOrman.com and click it there.
[1:05] Suze: But if you're gonna do it, now is the time. Remember,
[1:09] Suze: June 22nd, they go up to $153.
[1:16] Suze: Now, KT. Tell everybody what happened this week when you went
[1:20] Suze: into Costco.
[1:21] KT: I had to go to Costco to renew my membership,
[1:25] KT: and Suze's in the car with me. I said, Suze,
[1:27] KT: why don't you come in? It's fun to walk around
[1:28] KT: and look at things.
[1:30] Suze: I don't think so.
[1:31] KT: And she said, No, no, no, you go. And she said,
[1:33] KT: Bring me something fun. And I said, OK. So I
[1:38] KT: did something which I thought she would either get really
[1:42] KT: mad or really happy.
[1:45] KT: I have to tell you all she was over the
[1:47] KT: moon happy.
[1:49] Suze: Now can you all imagine what is it that she
[1:53] Suze: would have brought me that made me so happy I
[1:56] Suze: can't even tell you. Can you think about it? Think
[1:59] Suze: for a second. Costco, think about it. Cost $3. Think
[2:03] Suze: about it. All right, KT.
[2:04] KT: No, $1.50.
[2:05] Suze: But you got me two.
[2:07] KT: OK. I renewed my card and I bought some fruit,
[2:10] KT: and I'm leaving.
[2:11] KT: And I have this huge cart that's empty and it
[2:14] KT: wasn't busy and I walked by the little food stand.
[2:17] KT: I have never in my life ordered anything from that
[2:21] KT: food stand. I didn't even know how to do it
[2:23] KT: and I said, I'm gonna bring her a hot dog,
[2:26] KT: a Costco hot dog and a Diet Coke, so it's
[2:29] KT: $1.50 and I, I go up to, I said to
[2:33] KT: the ladies, how do I do this? And they said,
[2:35] KT: they pointed to the kiosk.
[2:37] KT: So I went to this kiosk, I pressed the menu,
[2:40] KT: I see the hot dog, I pressed the button and
[2:43] KT: two pictures came up. So I said, all right, and
[2:47] KT: I press it like finished my order.
[2:50] KT: And it was $3 and I said, no, no, no,
[2:52] KT: this is $1.50. Long story short, I pressed the wrong button.
[2:56] KT: I got two hot dogs, two Diet Cokes, and brought
[3:00] KT: them to Suze in the car and she thought she
[3:02] KT: died and went to heaven.
[3:04] Suze: But what all of you have to understand is this
[3:07] Suze: health person here loves hot dogs, and I have not
[3:12] Suze: had a hot dog in...
[3:13] KT: In 10 years, way over 10 years, maybe 20 years.
[3:16] Suze: A long, long time.
[3:20] Suze: And I was so happy I couldn't stand it.
[3:22] KT: She ate both of 'em.
[3:23] Suze: Now here's what else. I normally stay away from gluten,
[3:27] Suze: and guess what?
[3:28] KT: She ate the bun.
[3:29] Suze: I ate the bun and guess what? I always stay away
[3:32] Suze: usually from Diet Coke.
[3:33] KT: Drank it, the whole thing.
[3:35] Suze: I was so happy. Oh my God.
[3:37] KT: She was on the biggest she thought it was July 4th,
[3:41] KT: but
[3:41] Suze: KT, what, what do you think the point of that
[3:44] Suze: story is for somebody who's so strict? I am so
[3:48] Suze: strict about everything.
[3:49] KT: Discipline.
[3:50] Suze: I'm so disciplined. I'm don't do this. I don't do
[3:53] Suze: that when it comes to eating, but yet...
[3:55] KT: Sometimes it's fun to be naughty.
[3:58] Suze: So maybe that's true with money as well. Maybe just
[4:02] Suze: not all the time, but just once. Now chances of
[4:04] Suze: me doing that again for another 10 years, even though
[4:08] Suze: today I wish I could do it again, are nil,
[4:10] Suze: but it was fun anyway. What you got for me, girlfriend?
[4:14] KT: Ok, this first one, this is, it's also the month
[4:16] KT: of June, which is Pride Month. So I wanna start
[4:21] KT: today with a pride email. I love this.
[4:24] KT: This is from Larry and Bob, and the subject says
[4:27] KT: we're married, and they said, Dear Suze and KT, I
[4:32] KT: wrote you and you personally answered. I loved that. So
[4:37] KT: just one week after your 75th birthday on June 12th,
[4:42] KT: me and Bob got married. Yes, Suze, after 37 years together.
[4:50] KT: Yes, indeed. After drawing up our wills and trusts, it
[4:54] KT: all happened. There are benefits to being married, Suze, like
[4:58] KT: you've always told us. I cannot tell you how long
[5:03] KT: I've been listening to you... since 2003.
[5:07] KT: You've helped me build up my savings account. I turned
[5:11] KT: 66 at the end of June, and Bob is now 76.
[5:16] KT: Much happiness to you and KT, whom you adore, and
[5:20] KT: we adore you both. Much love, Larry and Bob.
[5:26] Suze: Larry and Bob, we wish you a very...
[5:28] KT: Very happy marriage!
[5:30] Suze: Happy life together, and I just have to say this
[5:33] Suze: is that for those of you out there,
[5:37] Suze: who have the ability to get married. This is Pride Month.
[5:42] Suze: This is the time that you should be proud, hopefully.
[5:45] Suze: I've always been proud that I'm a lesbian. However, many
[5:49] Suze: of you out there think, Oh, it's all right. I
[5:52] Suze: don't need to get married. It's not a big deal.
[5:54] Suze: Don't think rights can't be taken away. They most certainly can.
[5:59] Suze: And if you think that there aren't incredible rights to
[6:02] Suze: being married, I'm telling you you are wrong. There's like
[6:05] Suze: 1,100 financial advantages, yeah, so don't take this for granted, everybody.
[6:13] Suze: If you've been together, especially for 20 or 30 years,
[6:16] Suze: what are you waiting for? But, I know this whole
[6:20] Suze: podcast is gonna be you and me. You know what
[6:22] Suze: I realized? He got married on June 12th.
[6:26] Suze: Right, I forgot to write Kai, Karen Eckhammer, happy birthday.
[6:30] KT: Is that her birthday?
[6:31] Suze: It was her birthday, one of my oldest friends...
[6:33] KT: Kai, happy birthday.
[6:35] Suze: Kai. I am so sorry.
[6:36] KT: Forgive her, forgive her, forgive her.
[6:39] KT: Sorry. Oh my God. All right, that's what I was
[6:41] KT: thinking the whole time you were reading that like. How
[6:44] KT: could I forget?
[6:44] KT: Oh my goodness.
[6:45] Suze: That's what happens when you're 75, Kai. Anyway, KT, let's
[6:48] Suze: get to money.
[6:49] KT: OK, Suze, this first question is from Elizabeth. She said,
[6:53] KT: Dear Suze, I'm 78 years old, retired from my job
[6:57] KT: in May 2025, and find myself unexpectedly with money I
[7:02] KT: think I should invest.
[7:04] KT: There's a TV ad for one of the wealth management
[7:07] KT: companies in which the potential client says all my money
[7:11] KT: is in checking, which I laughed at when I first
[7:14] KT: heard it, and then I realized that describes me. Currently
[7:20] KT: I receive about $9,000 a month from my Social Security
[7:24] KT: plus a pension. Last December, sadly, one of my two
[7:29] KT: daughters passed.
[7:30] KT: I received $40,000 from her life insurance. My surviving daughter
[7:36] KT: has a disability though, and while she receives SSD, she
[7:41] KT: has a part-time job, a car, and a subsidized apartment.
[7:46] KT: At some point she won't have me to fall back on.
[7:49] KT: I only have $111,000 in savings.
[7:54] KT: But no major debt or anything other than a mortgage
[7:59] KT: on one of the two properties I own. So right
[8:02] KT: now I think I have enough to invest, but no
[8:05] KT: idea where to start. My question is, if you were me, Suze,
[8:09] KT: what would you do? I know I'm late to the party,
[8:12] KT: but I think you've said it's never too late to start,
[8:16] KT: and I'm desperate for advice.
[8:19] Suze: Oh, girlfriend.
[8:20] Suze: First of all, at 78, three years older than me,
[8:24] Suze: you bet it's not too late for the party, party, party.
[8:29] Suze: So here's what I want to say to you, Liz,
[8:31] Suze: which is this you say only $111,000 only $111,000 would
[8:41] Suze: not be enough if you didn't have $9,000 a month
[8:46] Suze: in a pension. Now, obviously,
[8:48] Suze: the pension and Social Security goes away most likely upon
[8:52] Suze: your death. So now your concern is, what else do
[8:56] Suze: you have for your daughter? Well, you just said you
[8:59] Suze: own two pieces of real estate. Now, I don't know
[9:03] Suze: what that real estate is worth.
[9:05] Suze: However, it is 2026. Don't tell me that it's not
[9:10] Suze: worth probably a whole lot of money, and you are
[9:14] Suze: thinking about selling one which will then probably give you
[9:18] Suze: maybe half a million, three quarters of a million dollars to do something with.
[9:23] Suze: While it's true you could invest it, while it's true
[9:26] Suze: you could do all these things, we don't know when
[9:31] Suze: your time
[9:32] Suze: will come and what do I mean by that? When
[9:35] Suze: you will no longer be here.
[9:37] Suze: At that point you don't want to, in my opinion,
[9:41] Suze: pass the burden of investments down to your daughter who
[9:47] Suze: may or may not be able to handle them. So therefore,
[9:52] Suze: what I would suggest, believe it or not, is to
[9:54] Suze: keep everything very, very simple for her.
[9:58] Suze: So meaning, put some of the money in treasuries, puts
[10:02] Suze: it somewhere like CDs that will earn interest for her,
[10:07] Suze: and that it's simple, and it won't go up, it
[10:09] Suze: won't go down, she'll be able to at least handle it. Now,
[10:13] Suze: I get that you think that the idea is, you know,
[10:16] Suze: you got to make it grow and grow and grow.
[10:18] Suze: Listen, maybe if you end up selling those two pieces
[10:21] Suze: of property, especially after you're gone, maybe now she has
[10:25] Suze: one million or something, because remember, she's gonna get a
[10:29] Suze: step up in basis on those assets, real estate, when
[10:34] Suze: you die, so she's not gonna owe any taxes on that.
[10:37] Suze: Make sure you yourself have a living revocable trust, actually
[10:41] Suze: the must have documents you should absolutely have those and
[10:47] Suze: in your situation right now, let's just keep everything safe
[10:52] Suze: and sound for now. Maybe we'll change that later on,
[10:57] Suze: but for now...
[10:59] Suze: Treasuries, CDs, money market accounts, can you just keep everything safe?
[11:06] Suze: All right, next question, KT.
[11:08] KT: Next is from Erin. She said, Hi, Suze and KT.
[11:11] KT: After watching, reading, and listening to you for many years,
[11:16] KT: I was fortunate enough to retire after 38 years. Suze,
[11:22] KT: I was able to accumulate $3 million in my IRAs
[11:26] KT: and Roths.
[11:27] KT: I would like to invest in FITZ and CVX, in
[11:33] KT: Chevron right, in my Fidelity account, but not sure if
[11:36] KT: it makes sense to pull extra money from my managed
[11:40] KT: IRA distribution, get taxed, invest it, and then when I
[11:45] KT: sell a stock, pay long term capital gains. Am I
[11:49] KT: robbing Peter to pay Paul?
[11:51] KT: I'm happy with how my financial advisor is investing my money.
[11:56] KT: I just like to invest on my own as a hobby.
[11:59] KT: I only withdraw enough money from my IRA for my
[12:03] KT: expenses each month, nothing extra. Does it make sense to
[12:07] KT: pull a little extra to invest for fun?
[12:12] KT: I don't know. What do you think, Suze?
[12:13] Suze: Oh boy...
[12:14] KT: You had a hot dog. Should she invest for fun?
[12:17] Suze: Here's the thing, Erin. You say that you have some
[12:20] Suze: money in a Roth IRA.
[12:25] Suze: There's no reason why you shouldn't ask your adviser, who you like. I
[12:28] Suze: love that you like him or her. They're making good
[12:31] Suze: money for you. Fabulous. But why not ask the adviser
[12:35] Suze: to set up another Roth IRA for you that has
[12:40] Suze: the amount of money that you want in it that
[12:42] Suze: you think you would like to invest on your own
[12:45] Suze: for fun.
[12:46] Suze: That way you don't owe any taxes on it. You
[12:50] Suze: can withdraw it when you want, the whole thing that
[12:53] Suze: just know that. And then it's not like you're robbing
[12:57] Suze: Peter to pay Paul. I would not be taking extra
[13:00] Suze: money out of the traditional IRAs where you do have
[13:04] Suze: to pay taxes on it and then invest it outside
[13:07] Suze: of the retirement account. Invest it in the Roth. Bottom line:
[13:13] Suze: Have your advisor set up another Roth IRA for you,
[13:17] Suze: separate from the money that he or she is managing,
[13:20] Suze: put the amount in it that you want to have
[13:22] Suze: fun with and invest it however you want. By dollar
[13:27] Suze: cost averaging though, just know that. All right, KT.
[13:30] KT: OK, this is from Stephanie. She said, hello, Suze. I love...
[13:34] Suze: How old is this one, KT?
[13:35] KT: Oh, she's 70 years old.
[13:37] Suze: The reason I asked, I love that we're dealing with
[13:40] Suze: older women and men. I just love it so much
[13:42] Suze: I can't stand it. All right, go on.
[13:45] KT: She said, Stephanie said, Hi Suze. I live in Washington
[13:49] KT: state and own a duplex in Michigan. Due to impending
[13:53] KT: high cost to replacing the HVACs for both units and
[13:58] KT: the challenge of being so far away, I've decided to sell.
[14:03] KT: If my current living situation here in Washington should no
[14:06] KT: longer be available or if my health took a turn
[14:10] KT: for the worse, I would have no home in which
[14:13] KT: to live.
[14:14] KT: Should I return to Michigan because the rents are so
[14:17] KT: high nowadays I'm not sure I could afford an apartment.
[14:21] Suze: So what she's saying is she currently rents in Washington,
[14:25] Suze: and her costs in Michigan have gone up, so she's
[14:30] Suze: thinking about selling her home in Michigan, staying in Washington
[14:34] Suze: and renting, but if everything goes higher for her, the rents,
[14:39] Suze: she doesn't have a home to go back to in Michigan.
[14:42] KT: Yes, so what should she do?
[14:45] Suze: I have no idea.
[14:48] Suze: Well, I'll tell you why, because if she could get
[14:51] Suze: a whole lot of money for those homes or those...
[14:55] Suze: duplex in Michigan.
[14:58] Suze: And it just depends on her tax situation there. Like,
[15:03] Suze: has she lived in it as her primary residency for
[15:05] Suze: two out of the past five years? Would she not
[15:08] Suze: owe any capital gains tax on it? All of that.
[15:13] Suze: And if she could pocket all of that money, have
[15:16] Suze: no expenses, and then invest it and get 3, 4, 5%
[15:23] Suze: on it and possibly have it grow.
[15:26] Suze: That that would then subsidize possibly her rent in Washington
[15:32] Suze: and obviously she likes Washington better than Michigan so I
[15:38] Suze: still don't know what you should do except seriously, Steph,
[15:41] Suze: here's the thing.
[15:43] Suze: You only get to eat a hot dog every once
[15:45] Suze: in a while, and maybe renting in Washington is your
[15:50] Suze: hot dog that you enjoy every single day. It's your home,
[15:56] Suze: maybe it's where your friends are, yes, you rent, but listen...
[16:01] Suze: Why don't you sell Michigan? Take advantage of the taxes
[16:06] Suze: right now, because I have a feeling you won't owe
[16:09] Suze: any capital gains. Interest rates are still relatively high. Invest
[16:14] Suze: that money and just see what happens day to day.
[16:19] Suze: I always say you never ask a question that you
[16:22] Suze: don't really know the answer to.
[16:25] Suze: So if moving back to Michigan now would make you
[16:28] Suze: feel more secure, then go for it.
[16:32] Suze: However, you may decide that that's not really what you
[16:37] Suze: want to do. So again, I don't know what to
[16:39] Suze: tell you.
[16:40] Suze: What would you do seriously, KT, if you were her?
[16:43] KT: Sell in Michigan. It's too cold anyway in the winter.
[16:46] KT: Stay in Washington. She lives there. There's a reason you're
[16:50] KT: living there now,
[16:51] Suze: Washington State.
[16:52] KT: and don't worry about it.
[16:53] Suze: Yeah, all right. Well, all right, there you go. I
[16:56] Suze: would sell in Michigan. I have to tell you, KT, though,
[16:59] Suze: there's one more thing I wanna say about this, right,
[17:02] Suze: as Stephanie gets older and she mentions what happens if
[17:06] Suze: she has a health problem or something like that.
[17:09] Suze: I don't know if her place in Michigan has stairs
[17:13] Suze: or whatever, or is she going to need assisted living
[17:16] Suze: or whatever. So I'm gonna stick to the thing right now.
[17:19] Suze: Sell now, Steph.
[17:21] Suze: Invest that money. Keep it safe and sound, and if
[17:25] Suze: it comes that you can't afford rent or anything anymore,
[17:29] Suze: then guess what? You could move anywhere, but now you
[17:32] Suze: have money to move into an assisted living facility or
[17:36] Suze: somewhere so you can be taken care of. All right, KT.
[17:40] KT: OK, this next one is from Sandra who also lives
[17:44] KT: in Michigan.
[17:46] KT: She said, I'm 80 years old and my husband passed
[17:48] KT: four months ago. We're sorry, Sandra, she said. My question is,
[17:53] KT: I had to sell my house and move into assisted living.
[17:57] Suze: Well, there you go. Did you just hear that, Stephanie?
[17:59] KT: And she's from Michigan.
[18:01] Suze: Did you hear that? It happens.
[18:03] KT: I'll be making a profit of around $300,000. My question is,
[18:09] KT: how can I put my money in a safe place
[18:11] KT: that the IRS won't take my money.
[18:14] KT: We will be using some of the money to pay
[18:17] KT: for my assisted living. I'm getting nervous. My daughter is
[18:21] KT: in my trust and is on my bank account. We
[18:25] KT: have lived in our home for 43 years. So again,
[18:29] KT: here's a situation, Suze, where Sandra. you know, had to
[18:33] KT: make a decision, and she did, and she said she's
[18:36] KT: getting nervous.
[18:38] Suze: You know, I don't, I'll answer Sandra in a second.
[18:41] Suze: Another thing, Stephanie, because you're making me think about my
[18:43] Suze: mama who lived in Chicago, and she needed to, as
[18:48] Suze: she got older, to move from Chicago because it was
[18:52] Suze: too cold.
[18:54] Suze: So think about it. There's a big difference between the
[18:57] Suze: weather in Washington State and Michigan now on to Sandra. Boy,
[19:03] Suze: Stephanie got in my head, didn't she?
[19:04] KT: She did.
[19:05] Suze: She did. All right, Sandra, my little 80 year old, listen,
[19:11] Suze: you've moved into an assisted living facility.
[19:14] Suze: And you have about $300,000 and your question is how
[19:19] Suze: can I put my money in a safe place that
[19:22] Suze: the IRS won't take my money? How does the IRS
[19:26] Suze: take your money? It takes your money in two ways.
[19:31] Suze: It takes it with a federal tax, and Michigan takes
[19:35] Suze: it with a state income tax on all levels of
[19:39] Suze: about 4.25%. I believe that is correct.
[19:44] Suze: Therefore, the interest on $300,000 let's say you put that
[19:49] Suze: into United States Treasury bills, notes, maybe a bond, so
[19:55] Suze: that you have access to that money or a Treasury
[19:59] Suze: money market account, you won't have to pay any tax
[20:03] Suze: on that in the state of Michigan.
[20:07] Suze: So you would only be paying federal income tax. Now,
[20:11] Suze: I don't know if you have a pension, what your
[20:14] Suze: Social Security is, or anything like that, but that would
[20:18] Suze: be the best way to alleviate for a quarter percent that the
[20:23] Suze: government in Michigan will be taking from you. When you
[20:28] Suze: say that you're nervous,
[20:30] Suze: the way that you stop being nervous is to sit
[20:34] Suze: down seriously and figure out what does it cost you
[20:39] Suze: to be in the living facility per month, what is
[20:44] Suze: your income after taxes, all sources of your income.
[20:48] Suze: What kind of interest rate can you get on that
[20:51] Suze: 300,000 and do you have enough money to last you
[20:56] Suze: for x amount of years, even if that means that
[20:59] Suze: you're going into your principal? So the reason that you're
[21:03] Suze: nervous is that you don't know the answers to those questions.
[21:07] Suze: As soon as you know the answers to those questions,
[21:11] Suze: then you'll be able to make a plan and see
[21:14] Suze: how long this money will last you.
[21:17] Suze: And given that you're 80 right now, you never know.
[21:20] Suze: Most likely it will last you the rest of your life. So,
[21:25] Suze: you're nervous because you don't know the answers to those questions.
[21:28] Suze: My advice is find out the answers to those questions,
[21:33] Suze: have your daughter help you with this, because the two
[21:36] Suze: of you are a team now, and when a mother
[21:39] Suze: and a daughter team up, that is a winning team, KT.
[21:44] KT: I was gonna say that's unstoppable. All right, next question
[21:48] KT: is from David. I like this question. Hi Suze. I
[21:52] KT: hear a lot of media chatter about the SpaceX IPO
[21:56] KT: being overvalued. I saw that it is being fast tracked
[22:00] KT: to become part of VTI, which I've invested in through
[22:04] KT: my Roth IRA.
[22:06] KT: My work 403B and taxable brokerage account includes S&P 500
[22:13] KT: index funds, and I see that it will be a
[22:16] KT: while before SpaceX enters those.
[22:20] KT: I'm not invested in individual stocks in any format. Is
[22:24] KT: there any way to predict how much of VTI will
[22:29] KT: become SpaceX based on how the IPO was done?
[22:34] Suze: Good question, David. First of all, SpaceX will become part
[22:40] Suze: of VTI, the Vanguard Total Stock Market Index ETF, on
[22:45] Suze: June 19th, and it'll be approximately 0.12% of VTI, very
[22:53] Suze: small amount, just so you know. In terms of VOO,
[22:58] Suze: Standard and Poor's, anything like that, it's not going to
[23:02] Suze: be till mid '27,
[23:04] Suze: 2027, until they add it to the Standard and Poor's
[23:09] Suze: 500 index. They were trying to fast track it and
[23:12] Suze: it did not do so.
[23:15] Suze: Another way to possibly do it would be through QQQ.
[23:19] Suze: They're gonna add SpaceX to that on July 6th. ARK
[23:23] Suze: already ARKK already bought it. It's at 3.2% of their portfolio,
[23:30] Suze: but here is the bottom line.
[23:33] Suze: If you want to buy SpaceX, the best way to
[23:37] Suze: do it is absolutely how? By dollar cost averaging into
[23:42] Suze: the individual stock itself. Symbol is SPCX, and it's around
[23:49] Suze: $200 it goes up, it goes down, it's right in
[23:52] Suze: there somewhere. However, what you should know is that you
[23:57] Suze: could dollar cost average every month.
[24:00] Suze: Take an amount of money $50, $100. Dollar cost average
[24:06] Suze: into it and let's see what happens. I have no
[24:09] Suze: doubt that it will go up, it will go down,
[24:11] Suze: and it's something if you want to invest in you
[24:14] Suze: absolutely should remember, not profitable yet.
[24:19] Suze: Probably SpaceX will very shortly acquire everything, Tesla, everything that
[24:25] Suze: they own. So, eventually, it should be OK. A lot
[24:28] Suze: of people love it, a lot of people hate it.
[24:31] Suze: You're gonna have to decide on your own. If you noticed,
[24:35] Suze: I have refrained from saying anything about it, cause I
[24:39] Suze: want
[24:39] Suze: all of you to decide on your own what you
[24:43] Suze: want to do and what you don't want to do,
[24:46] Suze: but dollar cost average into it every month on your own.
[24:50] Suze: Forget about it being part of the Standard and Poor's,
[24:53] Suze: the VTI, the QQQ's. You get more bang for your
[24:56] Suze: buck if you just buy the stock itself. KT really
[25:01] Suze: loves SpaceX, don't you?
[25:03] KT: I love it.
[25:04] Suze: That's all you need to know about it. That means somehow...
[25:08] KT: I love everything with space.
[25:10] Suze: There you go. All right, next question, KT.
[25:12] KT: OK, this is from Brian. Now I picked this because
[25:16] KT: of his subject line was real caught my eye and
[25:19] KT: I said, Suze, we have got to talk about this.
[25:23] KT: Brian wrote, My 74-year-old mom lost $15,000 to an FBI
[25:30] KT: imposter via an online scam, she was a victim, everyone,
[25:36] KT: and here's why: Fraudsters posed as FBI agents. They contacted
[25:42] KT: her claiming someone was trying to take her house as
[25:46] KT: part of a serious investigation.
[25:49] KT: Over several days they made her afraid and instructed her
[25:54] KT: to withdraw cash, buy gift cards, and send photos of
[25:58] KT: the cards to them as documentation. She told me they
[26:03] KT: were acting as if they were really there to help her.
[26:07] KT: Because my mom has a great relationship with her local
[26:10] KT: bank tellers. They warned her to be careful when she
[26:14] KT: withdrew the money. She still did it.
[26:18] KT: The bank was able to reverse some debit charges. However,
[26:22] KT: because she bought most of the cards with cash, most
[26:26] KT: of the money is gone. When I first spoke to
[26:30] KT: the bank agent over the phone, the banker said that
[26:33] KT: this had happened to their own family member. Wow, wow.
[26:38] KT: So anyway, he goes on to say that they reported
[26:41] KT: this to police, blah blah blah, and then he said
[26:43] KT: to protect her moving forward, we also locked down her phone,
[26:48] KT: but I am incredibly frustrated to still see deceptive scam
[26:53] KT: ads targeting my mom on YouTube and Instagram.
[26:58] KT: Most of all, Suze, we want your listeners to know
[27:02] KT: the government or any legitimate business will never ask you
[27:07] KT: to buy gift cards. Please warn your listeners about these scams.
[27:12] Suze: Yeah, well, you know, everybody, first of all, I'm so
[27:16] Suze: sorry that happened. That is the reason
[27:20] Suze: we worked for two years on the Ultimate Scam Protection
[27:25] Suze: brought to you by now Coveron. Nord has changed its
[27:30] Suze: name to Coveron.
[27:31] Suze: I don't quite understand that name, but that's what they
[27:34] Suze: decided to change their name to, maybe because you're covered
[27:37] Suze: on everything that you do. So, that's what they have done.
[27:42] Suze: They recently, by the way, KT I don't know if
[27:44] Suze: you know this, but I just got an email saying
[27:48] Suze: they're increasing their identity theft
[27:51] Suze: protection to $2 million versus $1 million. However, the scam
[27:59] Suze: protection is what I really cared about because if something
[28:03] Suze: like this happens online or whatever to your mother, to
[28:08] Suze: your father, to you,
[28:10] Suze: could get back up to $100,000. It's like a $100,000
[28:18] Suze: insurance policy against online scams. So why aren't you all
[28:24] Suze: doing it? Really, it's $95.88
[28:28] KT: For each year.
[28:29] Suze: For each year, for each person. You can go to Suszeorman.com,
[28:33] Suze: look for it there, click and sign up. It is
[28:37] Suze: so important. You think it can't happen to you?
[28:41] Suze: It can. And in the same way, I just have
[28:44] Suze: to say this, you get car insurance. Do you hope
[28:47] Suze: that you're getting in a car accident? No, but you
[28:50] Suze: get it in case fire insurance, all of that. You
[28:54] Suze: want insurance in case something happens, and that's what the
[28:59] Suze: Ultimate Scam Protection account is all about good everywhere now
[29:05] Suze: except New York just so you know, eventually it'll be
[29:09] Suze: good in New York as well. I so hope you
[29:13] Suze: decide to do it.
[29:13] Suze: I can't even tell you.
[29:15] KT: Suze and I did it.
[29:15] Suze: Of course we did it.
[29:17] KT: And I'll tell you, when I, after I finished filling
[29:20] KT: it in, because it takes a little time, you have
[29:22] KT: to really, it's not easy, it's not easy, but man,
[29:24] KT: it's worth it. It didn't take that long.
[29:26] Suze: KT actually found how many things?
[29:29] KT: Oh, maybe about eight...
[29:31] Suze: That we had to correct.
[29:33] KT: Eight things had to be corrected, and some of them
[29:35] KT: were really old, but it made me feel so good
[29:38] KT: and so secure when I finished that sign up.
[29:41] Suze: Yeah, but don't think if all you have is identity
[29:44] Suze: theft protection that that's gonna take care of you. You
[29:47] Suze: need more than that, obviously that comes with it. A
[29:51] Suze: lot of things come with it, but go to suzeorman.com
[29:54] Suze: and check it out.
[29:55] Suze: Alright, KT, we have time for one more.
[29:58] KT: Ok, this is from Meredith. Meredith is 46 years old.
[30:02] KT: She said, first, Suze, I'm extremely blessed to be in
[30:05] KT: the situation where I need to ask this question, and
[30:09] KT: I don't take that for granted. Don't you love that?
[30:13] KT: I love that.
[30:14] KT: She said, What is the smarter move? Should I take
[30:18] KT: the money I have set aside for the year, which
[30:21] KT: is $35,000 and invest it into a mega backdoor Roth
[30:27] KT: through my employer as they offer that option up to
[30:31] KT: $72,000 or
[30:34] KT: should I use it to pay the taxes and convert
[30:38] KT: current money from my employer's traditional retirement account to the
[30:44] KT: Roth retirement, I calculated I could convert approximately $100,000 this year.
[30:52] KT: Then she said, I plan to switch careers in about
[30:55] KT: five years, so I might not have access to the
[30:59] KT: mega backdoor Roth option long term.
[31:03] KT: It could mean I only have the next five years
[31:06] KT: to super max out a Roth retirement account. Suze, what
[31:10] KT: is the smarter move?
[31:12] Suze: Do you want to answer it?
[31:13] KT: Yes, Meredith, listen up. This is KT, and this is
[31:18] KT: about your Roth. Go for it, girlfriend, convert!
[31:21] Suze: Convert?
[31:23] KT: Yes.
[31:24] Suze: (Suze makes the wrong answer sound)
[31:25] KT: Oh come on!
[31:26] Suze: KT. I know you tried so hard.
[31:28] KT: I really thought I had it right.
[31:31] Suze: Well, you really didn't.
[31:32] KT: How come I got it wrong?
[31:33] Suze: I'll tell you, a few months ago I did a podcast, everybody,
[31:37] Suze: and you should look this up. It was on mega
[31:40] Suze: backdoor Roths known as 415C plans.
[31:45] Suze: And not all corporations allow it, but essentially, to put
[31:50] Suze: it very briefly for you, you can contribute above your
[31:55] Suze: contribution limit with after-tax contributions, and if they allow you
[32:00] Suze: to do so, then transfer it to a Roth retirement
[32:05] Suze: account within your corporation and obviously Meredith's company allows her
[32:11] Suze: to do so. So Meredith, at the age of 46.
[32:15] Suze: You have years that you can convert what's in your
[32:18] Suze: traditional accounts, but you may only have five years left
[32:24] Suze: since you're thinking of leaving to do the mega backdoor Roth.
[32:30] Suze: So do the mega backdoor Roth, get it in there.
[32:34] Suze: And then as you go on, maybe you have more money.
[32:38] Suze: You could also convert some money obviously to a Roth
[32:43] Suze: from your traditional accounts as well. But first, make sure
[32:46] Suze: you max out the mega backdoor Roth every single year.
[32:52] Suze: That's what I would be telling you. Did that make sense, KT?
[32:57] KT: Yes...
[32:58] Suze: It didn't did it?
[32:58] KT: I still am so sad that I got it wrong.
[33:00] Suze: One day, I promise you.
[33:05] Suze: I promise you, sweetheart you will get it right, but
[33:08] Suze: I gotta tell you, chances are nine out of 10
[33:11] Suze: people would have gotten that one wrong.
[33:14] KT: Seriously, seriously, so I'm not that bad.
[33:16] Suze: You're never that bad. You are fabulous. All right, everybody,
[33:21] Suze: until Sunday, there's only one thing that we want you
[33:24] Suze: to remember when it comes to your money, and what
[33:26] Suze: is it?
[33:27] KT: People first, then money, then things. Now...
[33:30] Suze: You stay safe. Bye bye, bye.

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