Ask KT & Suze Anything: Hope For Those Who Feel Hopeless
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Hi everybody, c zo here. Now, what is the goal of money? The goal of money is for you to be secure, and there is no Better way for you to be secure than having an emergency savings account.

IT is essential for your financial foundation, so all of you should be participating in the ultimate opportunity savings account at alliant credit union. Go to my alliant that come to find out more and be the cut. are.

You ready for today's podcast?

Yeah, robber, of course .

we're ready because we are on staff of.

Up on my own.

i'm. sub.

Find the power home. I don't need that. I'm so what.

november twenty first, two thousand and twenty four. Welcome everybody to the women in money packets, as well as everybody smart enough to listen.

We're back a week away. Are we a week from thanksgiving?

We are we, before you jump forward a week to thanksgiving, we have to jump back a week because we've been gone a week and people are emAiling us, where were you last thursday, last sunday?

But we tell you anybody.

it's even Robert did .

took a vacation, not telling, telling not matter.

right anyway. But we had a great time. We're happy to be back.

And actually, we've been back since monday. And kt has been a this woman. I've never seen anything like that.

Yeah we've been having great catches and and joy and give the and all this fish everyone's loving and loving .

buffett's daughters of van happens to be visiting us, which we just love. And he went out fishing with kt last tuesday, just a few days ago. And wow, IT was so i'll .

post some photos.

You will, will you? Yeah, he doesn't like that. Okay.

we won't post on right now. Alright.

so wait before you start a week .

from thanksgiving.

Right now, I don't care about thankful love. Get to thanksgiving. Okay, right. But right now, I had posted kt a pick a few days ago of who wants to be a millionaire, where one of the questions on the game show was about susie orman, and what is susie and write books about.

And they were like four categories, ies, obviously one of the most finances. And he kind of looked down. And I did a paul, that will not an official, paul, but this thing on the women.

we got IT right.

And a lot of people said he doesn't look like he got IT right. But there's a reason that I also posted that is because, yes, he got IT right. He did.

He did. And not only that, he went on to win one million dollars. But wait, there's a story to this.

I got a story. See what happens when you're not on for a whole week. You just wanna talk and talk and talk anyway, because he won a million dollars.

And my question was part of IT. They had him on the today show with me. This is years ago now, and this was before to these were reruns.

Kt, all of these shows that was all run with reaches years and years ago, like two thousand and five, something like that. And they had him on the today show for me to tell him what to do with the million dollars. And I said, whatever you do, keep IT safe and sound that you have to remember, you want a million when it's after taxes.

Maybe you're gonna have six hundred thousand, but if I were you, I would not be investigate in the stock market or real estate at this point in time. Well, the hate malky that I got from some of the viewers of the today show, that is the worst advice i've ever heard. The markets are skyrocket and realist skyrocket.

I can't believe IT, that suzy orman doesn't want him to invest in the stack market. Do you all remember what happened in two thousand and six and two thousand and seven? Oh yeah, but it's crashed. Real state crashed. And if you listen to me, that little six hundred thousand dollars that he kept safe and sound is probably worth another million lion dollars to day because he didn't go in the stock market or real state at that time. I just don't tell you the sorry said.

I will look him up now, alright, you can find out what he's what is god hope he keeps listening, right?

So this is the S, K, T. And suzy, anything edition. You've been pondering all .

the questions you almost said. thanks.

Will you stop? IT tell everybody who's gonna be with us this thanksgiving. So there you go.

OK suit makes the best turn to .

give you stuff in recipe like many times now. Alright.

ready? Actually, I don't have a question to start without love letter.

You love starting these with, yes.

I do like starting the the podcast with a love letter. And this is from Allison SHE said, I want to tell you both how grateful I am for you. I have only been listening for a year, and you've helped me conquer a lifetime fear of money.

As a fifty two year old france photographer, my financial status has always had huge swings, the higher manic with irresponsible spending, and the laws are terrifying and depressing, so that you have helped me feel secure. You have given me a plan to ease the financial extremes. Finally, for the first time as an adult, I know that everything is going to be okay.

You have taught me to save and to honor and be grateful for those savings. Even if I wish there were more, th Epace y ou h ave g iven m e i s i nvaluable. I hope you can feel the gratitude your listening ers have for you, even if we are bad about letting you know much love to you both.

I I pick this for another reason what the word france. I started as a freeLance illustrator back in nineteen seventy two, nineteen seventy one, seventy two. And i'll tell you something, it's tough. The word freeLance always attracts me to any question because it's a very difficult part of every anyone's life of your free answer.

That's why you choose IT or that's .

one of the reasons it's just attracted me.

I know how difficult you chose.

why? Because one of the most important parts of the women in money podcast is the ability to create hope, hope for those who feel hopeless, hope for those to feel like they're never gonna a get out of debt, hope for those who have never experienced what it's like to have a savings account, hope for those who never owned a home, never owned a car, never owned a car, alright, never thought they would be able to retire, never thought that they would be able to do the things that they are doing after having listened for just a year. Imagine three years.

Imagine longer. Imagine the twenty years with the suzy orman show and everything. Do you have any idea the hope that I know we have created in this world simply by telling the truth about money and people? fabula?

All right. All right. So this next question is from sabina.

Hi, kate and susie. Hope you are both doing fantastic. I have a small issue.

I'm hoping you could help me with my eighty five year old mother. Has SHE loves going to the casino? No, this made me smile too. Although SHE doesn't go as much as he used to, SHE always wants to go, and he will take any opportunity if her presents itself.

SHE went with a group of people a couple of weeks ago and told my brother and I about IT after the fact, well, someone had to help her pull money from the A. T. M.

It's scared. Can you imagine her, her brother, listening to the mom tell me, he said, IT scared us because someone knows her pin and SHE could have pulled way more than he did this time. Here's the second part of the issue.

I fear I made a mistake of taking twenty five thousand from her account, leaving her only five thousand. I had her permission, but now I don't know what I should do with this cashiers check. So my intent is a high yield savings account.

I wanted keep IT liquid for her, but I don't want to pay taxes and have been added to my income if I put IT in my name. Also, I was thinking a routh I R A could earn interest tax free, but not sure of the rules. At her age, eighty five years old, he will eventually qualify for assisted living.

And sh'll need this money. Any help would be greatly appreciated. So so sabina needs some advice about the money. So first .

of all, don't fear that you made a mistake. If anything, I would have told you to probably take out even more than that, leave her a thousand dollars. And if he goes and she's wants more than that, he has to ask for IT.

But you did not make a mistake. Number one, the real mistake would be because you said later on in this email, soon she's gonna be in assisted living, and you will need this money. What if SHE had taken out all twenty five thousand dollars and gambled IT away? The good part is SHE obviously gets enjoyment out of doing that.

So what would also be interesting is maybe if SHE didn't have any money at all in her name, just listen to me, tell her that he needs to be protected and that you give her an allowance, so to speak, like, believe you are not. Remember, Kitty, I used to do this with my mom. SHE got a thousand dollars a month.

I paid all the bills and everything, but he got a thousand a month. And that is because SHE was kind of in the same situation. SHE didn't understand.

SHE was now in her nineties. I took all of her checks that he had, that he thought he could write checks, and there was absolutely nothing in the account. And everybody knew that if he sent them a check, that they should just thank her for sending money.

But you really have to protect your elders, you honest god do not feel like you're taking their power away from them, but you have to protect them when dementia especially starts, said m. And so therefore, don't worry about you having to pay tax on this. What you can do if you want, obviously, you can open up a joint account with your mother so that is in her name and your name.

Maybe SHE could be tax stanic because that's the tax I D, but he doesn't know where it's at. You don't give her checks. You don't give him an A T M card, a debit card. SHE cannot access the money. And you just simply tell her, mom, i'm gonna give you two hundred fifty dollars a week for you to go and spend at the casino, or two hundred fifty dollars a month or whatever he can truthful ly afford because you also don't want na take that joy out of her life. Mean, i'm a little embarrassed to say this, but the truth is my mother loved going where Kitty with her driver bill.

oh my god, hooters holders, hooters SHE loved IT.

They go for lunch every day and I would get a bill for seven thousand dollars a .

month for the driver.

the driver and hooters every day and SHE would treat .

and they didn't drink, they just even.

And bill loved IT there. And my mother loved there for some reason. And when I took that away from ice and mom, i'm getting rid a bill, your full time aid is going to drive you, and you're not going to go to hooters anymore.

He did not talk to me. He was depressed, did not talk to me now, eventually he got over IT, but you have to give them some joy and never like you. Oh my god.

like susie took her boyfriend away and hooters .

and you know, IT was like, really everybody. So it's fine. Put IT in a high yield savings account. For her, do IT in a joint account with your name. So if anything happen to you, IT goes back to her at least.

So SHE has access to that money, if needed, and leave instructions to how somebody can tell her about IT. In the meantime, who cares? Just do IT. And thank god you are right.

Keep her happy. So next question is from Susan. What is your recommendation, susie, regarding C T R. E?

Do you know that is? Kt.

no.

I figured so a long time ago. I don't even know how long ago one of the divine pain stocks that happened to be a real estate investment trust that I recommended to everybody because IT was paying about five, six percent at the time and dividends. Care trust and what care trust is so funny that you're even bringing this up at this moment in time because this was a question on the women in money APP.

Obviously, somehow you got this. But anyway, here's what's important is that care trust is a real estate investment trust that invest in nursery homes. So interesting that you're choosing this right after we had the question that we just dip. I but what's the question?

So the question is I have one hundred and three shares of C T R E. Cost basis is twenty one dollars in nine people. Should I keep or sell and put money into something else since the dividend was lowered?

Now what's interesting, kt, and for all of those of you on the women in money podcast up, I actually answered this on the APP OK, right? But K T like the question and probably liked IT before I even answered IT. So let me answer IT again for all of you.

One of the big mistakes you make is if you were to look at C, T, R E, that's the symbol of IT. Right now. It's at about thirty dollars a share. And if you were to look at IT, IT would be paying you about a three point three five percent dividend, which is why Susan thinks her divine has gone down.

But the truth of the matter is, over the past few years, C T R E has actually increased the dividend from twenty six cents K T A quarter to twenty nine cents a quarter in two thousand and twenty four. So why does Susan keep thinking that the dividends going down? Because she's looking at what it's at.

If you bought IT today at thirty, okay, Susan is actually up forty percent on her money since SHE bought IT number one and number two, SHE still earning on her purchase Price at today's driven rate, five point five percent on her money. So you just keep IT right there. Girlfriend, don't even think about selling IT. All right.

So next question is from chAmbers. This is a funny question. You know how I like short and sweet.

Yeah, ready, everybody. This is IT. Hey, how are you? I need to start saving my money.

That's IT. That's IT. Hey, how are you? I need to start saving my money.

Well, then you need to do what so many people have done already. Go to my aligned dt com M Y A L L I A N T. Sign up the ultimate opportunity savings account.

Put in at least one hundred dollars a month. Every month right after you have signed up. Do IT for twelve consecutive months, you'll learn about three point one nine percent on your money.

And at the end, twice months, you will get one hundred dollars from alliant credit union, which is about sixteen or seventeen percent return on your money. That's a good way for you to start saving. Write my Fishery lady.

what I got from Gloria greeting Susan. K. T. My sister died in twenty twenty one, leaving me as the beneficiary to her traditional I, R, A. SHE. Was withdrawing required R, M, D per the secure act since I was nine years Younger than my sister, and I considered an exception to the ten year rule, which would allow me to withdraw R M S. Over my life expectancy.

So suzy, I went back to your podcast regarding the secure act, which indicated I may just have ten years to withdraw and I would need to do the first R M. T in twenty twenty five. So this is the part that she's confused about.

He said he took two years to get her account at wells fargo transferred to my shop account, so I did not do R, M, D until the twenty twenty three tax year. What a mess. Yeah, not sure what to do.

There you go. There is really nothing to do. My day one, in the fact that you are qualified, you take IT out over your entire life expectancy. Based on your life expectancy, you don't have to wipe the account clean in ten years because you are what is considered an eligible designated beneficiary because you were less than ten years Younger, then your sister are great, good to know, and you don't .

have to .

worry about any penalties because really you don't have to start pain IT until twenty twenty five. The R, M S and your life expectancy, but you've been doing this since twenty three.

so don't worry about IT. Okay, next question. Hi K T enthusiast, first time aster. I attempt to keep this success CT, but really need your advice for me and my wife. She's going to be fifty eight next year and forty eight for me.

Combined, we bring in two hundred and seventy thousand pretext that comes to about ten thousand net monthly. Recently, I calculated our total network and it's just over one hundred and seventy thousand dollars. Not much.

I know considering our ages, we both didn't earn much until a few years ago and recently started getting serious about saving for retirement. We are under the C A california rent control. C A right? That's pretty great.

All right. Um know how? No kids, no dad.

What that means to do now is they live in a rental unit that's worth a whole lot more, that if they moved out, the owner of that rental unit could absolutely charge a fortune, probably for IT. But under rent control, they got a deal of their lifetime. And hopeful ly, they should stay right there. But anyway.

go on so we this is interesting them according to what you just we own our one vehicle purchased in two thousand and seventeen both have Stellar credit, have you must have ducks term life insurance and she's going to wait until seventy to claim social security as he earns triple my salary. We realize to gain, this is the path that I need your advice to. We realized to gain any real network, we have to purchase a home.

I have no idea, he said, one day, maybe we could sell IT and actually be able to afford to retire ready. And then IT goes on to say, everything they do with, you know, their credit cards, they have no dead. In all honesty, i'm scared of doing IT with a mortgage, property taxes, repairs, maintenance and the insane state of the insurance industry, especially in california, although I know so many to live the american dream of owning a home, of course, i've never been want to follow the traditional path.

Alright, so sue, what are you going to say? They want to have a home in order to live the american dream of owning a home, and that's gona give them the ability to retire. I don't think so. What do you think, susie?

So here's the thing, girlfriends, and it's really quite simple. I've told you time and time again that the goal of money is for you to be secure. And you tell me in this email that that you scared to death to do this.

First of all, can we get a clue about california? Get a clue about the floods, the earthquakes, the fires? Get a clue about the cost of insurance going so high because of the natural disasters that many people have a higher insurance premium than they do a mortgage payment.

Get a clue that interest strates are still relatively high, and I don't think we're gonna come down that much. And in the meantime, let's get a clue that you are living in a rent controlled apartment. Where did you get this idea really, where that the american dream is to own a home, and you own a home and then you sell IT so you can retire? No, you accumulate money by your four one case, by your roots and things like that.

You invested in equities, you keep your expenses low, you stay out of you make sure that when the time does come, that your social security, the interest on your retirement accounts and everything else pays for your expenses. And if your expenses are simply a rent control department or something like that, fine. But I know many, many really wealthy people who have never owned a home.

They never wanted to owe a home. So don't be like everybody else right now because you don't know what's going to happen in the real estate market, nor does anybody else. What you do know is you're making a nice living.

You're putting as much away possible in your retirement accounts. You are totally out of debt. You have a car that you purchased a while ago that you own out, right?

You're doing everything right. So as long as you compare yourself to what other people are doing, you are making the big this mistake in life. There are million people out there that would love to be in your situation. Girlfriend, so stop wanting to be somebody other than who you are. And no one day you will realize your retirement dream.

Are I can all right, this next one you did answer. This is important. I want to share this with everyone because I saw that susie did answer Susan king and Susan, I have to tell you, when I first read your question, as susie IT just made my stomach term, my humana medicare advantage plan is terminating my coverage. And of twenty twenty four, I had breast cancer in twenty twenty three and suspect i'm being dropped for that reason, I don't know where to start to getting a new plan or if they'll accept me. Now, susie, please advise .

everybody, what you all need to know is that a medicare advantage plan cannot drop you because of health chAllenges. It's against the law. They can't do IT.

So you first have to understand humana medical advantage did not terminate you because you have breast cancer. Medicare advantage plans are not allowed to do that based on preexisting conditions, including cancer. So I really want you all to get that right.

The termination of your plan is likely due to other reasons, such as the plan being discontinued in your area. There are many, many areas and hospitals now where medicare advantage is being discontinued for whatever reason, but that is happening. So what should you do? You have to find a new plan.

And since your plan is ending at the close of this year, you have two main opportunities, enroll in a new plane. Girl's friends, you don't have to worry about IT. First of all, fall in roman is running through december seventh of two thousand and twenty four.

And it's during this time that you can join a new medicare advantage plan or if you really want to switch to original medicare. Now because your plan is ending, you actually have a special enrollment period and your special enrollment period doesn't end like everybody else. December seven and two thousand and twenty four IT actually goes from december eight, two thousand twenty four till february twenty eighth of two thousand and twenty five that you have to change your medicare health and drug coverage.

So yes, there are preexisting conditions, obviously, but for all of you that may be in that situation, which is why spending a little time on this, the good news is that medicare advantage plans cannot reject your enrollment or charging more do to preexisting conditions, and that, my dear Susan, includes your history of press cancer. So this means you should be able to enroll in a new plan without facing discrimination based on your health. So there you go, you know, and you can do medicare plan, find your tools, all these things, to find a new plan.

I could go on and on about this, which I did in the email that I sent you. But for all of you, that's what you need to know. All right?

I this next question was very confusing for me, so I hope you clarify. IT says, hi, K T, or suzy. So let's say this is to K T.

Quick question. I got an email from treasury direct reminding me to deliver my gift bonds. Yes, okay, this is to stick.

T. I broke them three years ago. Is there a time limit on when they must be delivered?

Yeah picking all the ones that i've answered personal yeah .

but answered for me. You have to deliver this on a certain time. And was that mean deliver IT?

Deliver IT means deliver IT to the person that you're gifting IT, too. So it's now in their account. Now here's what you all need to know, right? First of all, I told this person, Tammy, that SHE should absolutely give them immediately.

And the reason is that I don't get what's going on with gifting bonds and treasury direct, but eventually, every single person is going to get an even email. Kt, they did an entrance ches, they're going to get an email that says, if you have gift zone, let me remind you that you should be gifting them and things like that. I don't know at this point what changes their going to make.

I do know though that you might, anna, call up treasury direct and ask them that lets say over the years you gifted may be twenty thousand dollars or thirty thousand or forty thousand dollars to somebody that you've never delivered and delivered means they're in your gift box and that you want now to start changing them over to the persons account whose name you want them to B. M. But the problem is if they've already invested ten thousand dollars in a serious ibn in their account this year, then under Normal circumstances, you can give them another ten thousand.

But for some reason, some people are writing, and they say that they have actually called treasury direct. And they say, IT doesn't matter, just start gifting IT that even if you have twenty thousand dollars in a gift box, you can gift IT all at once. Now I do not know if that is true or not, but enough of you have written that, have said you called because you were confused when you got this email and that they're not gonna pana ized you.

If you do that, you need to check this out because I don't know one way or the other. So if I were you, I would call the treasury direct people directly and just double check on this. And if you do have gift plans, you should start gifting them. Don't ask me why they're doing this, but they are, all right, keep fusing.

right? Very fusing.

What are they up to? No .

specious. yeah. Okay, quiz time.

Does that mean it's I have a quiz y for you.

You're not doing a quiz y suz, i'm doing a quiz. Y.

you have been giving nick quiz this entire half hour.

whatever it's been. No, no, no, no. This is my quiz.

Y to you, suzy and everyone listening wants the same quiz. Y to you. none. If you have to guess this, this is susie alone.

You want, want and only sue are I, girl, it's so Christine is the one that initiated this, SHE said. Hoping hear from you. When will you be announcing the date of the launch of kids program? So he is november. You keep .

promising prome later monday.

Christina, it's not just you. SHE keeps promising me. I said, what are we doing this?

What's going on? So just right.

here's the answer. We're close or close or close. K, T, I promise.

right? So I happen to talk to me last sunday night about IT.

good.

What do you say that? I have no idea. No, he said they are in the final testing of this program. Now I know i've told you that before, but this is a seriously complicated program on the back end with hundreds of thousands of computations. So that on year and you have very little to do, you're told what to do, when to do IT.

Very simple for you, but very complicated for the behind the scenes because of all the hundreds of thousands of people that will sign up for this, and it's individualized for each one of you. So just imagine that. But he is he promises me he's almost done.

Number one. Number two, I actually suggested I said, you know, Keith, these markets are pretty high right now. IT is probable that maybe these markets are gonna pull back. Maybe what we should do is we should maybe wait maybe we wait to the beginning of january. I know you're gonna look at me, K, T, but maybe we start the year off fresh where we know everything works.

The market has worked out all this stuff with the election and a fed funds rate and everything, and we let that just settle so that when we started something, we're not starting possibly with everything through the roof and immediately IT goes down. So if you could just be a little more patient, just a little more patient. I have a feeling starting january, maybe before, but most likely january.

And that was at my request, everybody, because he really said he would be ready to go in december. And I said, no, no, let's just wait till january. So I know everything is bunt up. I have time to go through IT and test with .

everything is in the testing kitchen and he's perfecting .

his recipe. And so now the recipe is perfected.

but it's in the testing kitchen .

now it's making sure that the recipe works the way that I should, that the tape rises and .

IT take good way, takes delicious .

what ever he is going to anyway. Did I answer the quiz? Y for you? Well, where is my right, everybody, that APP exists to the end of an s usi. N K T.

anything? I will be doing a susie school on sunday. Promise, promise, promise. But until then, there's only one thing that we want you to remember when IT comes to your money.

And what is IT K T people first, then? Money than things.

And if you do that, stay safe and healthy. We promise you, you will be .

unstop.

They were single. I don't. I'm so confident.

Hi, everybody here. Now, if you are looking for a way to start saving to get the most out of your money, I want you to go to my aligned dot com, that's M Y A L L I A N T dot com, and look into opening an ultimate opportunity savings account, put in at least one hundred dollars a month every single month for twelve consecutive amounts, earn three point one nine percent interest in your money right now, and get one hundred dollars at the end.

Are you kidding me? It's the best deal out there. Start saving right now.

There's the oran mean or so orin is acting as a certified financial planner, adviser, a certified financial analyst and economist, C. P. A. Account or lawyer.

Now there susie orman media nor suzy ormon make any recommendations as to any specific security or investments content contained in this podcast is for informational in general purposes only and does not constitute financial, accounting or legal advice. You should consult your own tax, legal and financial advice regarding your particular situation. Now there is you or susie orman accepts any responsibility for ny losses, which may arise from accessing or reliance on information in this podcast. Under the full tent permit by law, we exclude all liability for loss damages direct, direct, rising from the use of this information. The must have documents discussed in this podcast or legal documents created by a lawyer and distributed by hay house.