Ask KT & Suze Anything: Should We Stay in the Stock Market?
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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 K, K, T. are.

You ready for today's podcast?

Yeah, robber, of course we're .

ready because we are unstoppable. yes. Yeah.

lady rong, my. Upon my.

阿么 扎波。

做 power point。

December fifty, two thousand and twenty four, welcome everyday.

Oh, happy birthday to you. Happy her birthday to you.

She's happy again .

day to you. Happy have half half birthday to you. December fifth is her half birthday, which he celebrates more than her birthday on june fifth. So happy birthday.

suzy. Thank you, my dear. Kt, seven, three and a half.

I feel pretty good. The next one, seventy, far. Oh.

next one. okay. All right or right, let's let's get on with also my sisters coming today. Libris coming to little sister.

and today is less little lions, full birthday. And lesser is one of my oldest friends from grammar. Love her so much, I can't tell you.

Happy birthday. lesly. However, where was I welcome everybody to the women in body podcast, as well as everybody smart enough to listen. Today happens to be S, K, T and susie, anything. So all you need to do is sending a question to ask sue S U C E podcast to g mail dot com and of K T picks IT. We will answer IT on this podcast, and you just never know when I will answer IT personally directly to you myself.

I picked a great selection today because I picked all the ones that I didn't know the answers to.

Oh.

every so I get to, no, I get to learn a lot today.

I get how many of the questions that come in that you look at. You be honest with me now.

fifty percent.

Do you know the .

answer of two percent? About fifty percent. After all these years of listening to you, I think I know about fifty percent. Soon i'll be able to take .

over with this part. I'm sure you will. I right, sweet, right?

First one is sad, but one that I know so many people right about. It's from katina. It's not really say, but it's just true, he said, hi susie.

My mother's almost seventy one years old and has no burial or life insurance. SHE keeps applying for whole life or modified whole life insurance policies. I keep trying to explain that she's just throwing away her money.

SHE won't live long enough for me to pay due to her help. So susie, what should we be doing with her money that would pay the most towards her funeral expenses that will ease her worries? So cantina.

here's what I don't understand you say in this email. SHE won't live long enough for you to pay due to her health. That makes absolutely no sense, because the reasons that she's getting this is that if he dies sooner than later, SHE has some money to pay for her burial.

What you need to do is sit down with her and find out how much money he has. Does he have enough money right now to pay for her funeral expenses and just simply do a prepaid funeral? Just do that so he knows that is covered and therefore SHE doesn't have to buy insurance anymore to do IT.

Obviously, she's buying the insurance that he sees on T. V. From only nine ninety nine a month. Godless of your health conditions. You can get this policy and that's what he pays into. So if you don't want her to continue to do that, you have to sell her fear of why she's doing that and look at her money and get a prepaid funeral plan is as simple as that now is he doesn't have enough money for a prepaid funeral plan.

Can you prepare her funeral for her? Do you have enough money? If you don't have enough money for that either, then I have to tell you maybe these little policies of thirty dollars a month that might pay for her funeral expenses, especially if he is not healthy, might be the way to go, believe IT or not. next? Kt.

okay. Next question is from Steve henne. Dear susie, i'm so excited to finally speak to you.

I will speak inside. How are you a girlfriend?

I hope you have the time to answer my sincere question. A few months ago, I finally got brave enough to take control of an old four or three B I had from a job. Twenty years ago, I set up a roll over for a one k account with vanguard and preparation because that is where I have my routh I R A, thanks to you.

Then I called voyer and asked them to do a custody to custodian transfer. They try to send me the money, and I said, absolutely not. I don't wanted send anywhere other than vanguard and gave them the address.

The woman said he understood and a check would be sent out. But when he said the amount IT was less than what I should be, when I questioned her, SHE said they had to withhold twenty percent. I said, no, i'm not taking the money.

I don't need taxes withheld. So at the end of the day, he said almost eight thousand was left behind. I hester, what would happen to this money? And he did not reply. Susie, who got IT wrong, and how do I get my money back under control? Thank you for everything you've taught me.

Stephen anie, I cannot tell you that the representative at void not necessarily voyer itself, but the person working there could not be more wrong if they tried. When you do a custodian to custodian transfer, twenty percent is not withheld. If they were to send you directly, the check made out to van guard twenty percent does not have to be withheld.

The fact that they held twenty percent, i'll tell you what happens to that eight thousand dollars. If you don't take eight thousand dollars out of your own money right now and put IT into your vanguard account out of your own money, then what's gonna happen is that eight thousand dollars is going to be tax to you as ordinary income. The only way around that, believe IT or not, is to take eight thousand dollars out of your own money right now and make up for IT and put IT in to the account to make up for that.

But that makes absolutely no sense. I would be so aggravated at voil. So representative, I can't tell you you need to go above this person's had you need to go to the manager of voi, you need to go to anybody at voyer, and you need to say, I want that eight thousand dollars that you have held, transferred right now into my vanguard account right now.

You never should have withheld that. You made a mistake and you are one hundred percent wrong. You'll know that they're wrong.

It's just this one person does not understand the rules. It's just that simple. But it's very sad. People never, ever make that mistake. I, K, T.

yeah, that's a big mistake. Yeah.

but he could take eight thousand dollars and put IT in and make up the difference there. And then when they got the eight thousand dollar refund, it's just a refine to her. But if he doesn't do that, that eight thousand dollars will be taxable. If SHE can't fix IT through VOA.

how much time you have to do that sixty days .

right from the day that they did the transfer?

okay. So next question from channon. Dear susie, my financial adviser has recommended a fixed income anuwa. I am retired at sixty seven and already getting social security plus small pension SHE says income guaranteed for life example three hundred and sixty thousand into and receive twenty four thousand a year for life. What should I ask at our meeting?

So shannon, here's what I want you to do. Your question to me is, what should I ask at our meetings? Even before you go into your meeting, you have to decide, do you have any beneficiaries that you want to leave this money too?

Do you have children, nis, nephews? Do you even have like a hospital or any charity that you want to leave? IT too, because guaranteed for life.

great. However, you don't know how long your life is going to go on for you are only sixty seven years of age. Hopefully you will live for a long period of time, but you could also die, accident, whatever is very shortly.

So therefore that money will be gone the day that you die. So that's a question. If you don't care, if you don't have beneficiaries, all you want is a guaranteed income.

Okay, that is a six point six percent return on your money, but that does not taken to consideration inflation or anything like that is IT possible that you could invest that three hundred and sixty thousand dollars and take out twenty four thousand dollars a year for a long time and probably achieve the exact same thing. yeah. If you know how to invest in bonds, in divide pain stocks and things like that, and you want to manage your money, you could probably do Better than that.

Believe IT or not. Am, have money to leave to your beneficiary. Aries, but if you just want twenty four thousand year coming in for the rest of your life and you don't have to think about IT OK, I don't have a problem with that.

So what should you ask at your meeting? Number one, I just think it's important for you to know how much commission this woman is going to get if you put three hundred and sixty thousand dollars into this. Next, you also say in this, right, that even located didn't mention that that you have another three hundred and seventy thousand dollars invested in equity.

What do you have? Not just safe and sound. Do you have at twelve month emergency fun? Do you have even more than that? Because if this is all you have and you have three hundred and sixty thousand that you're never gonna be able to touch again, three hundred and seven thousand already invested in equities that hopefully are generating income for you.

And something goes wrong at the time when the market has plumes. Ted, where is your money? Where's IT going come from also? So I would just want heard to look at your entire situation, not just shame.

Just let's put this in and you have twenty four thousand a year. Let's look at every aspect of your financial life. And you should ask for those things.

How does this fit in? What happens if I need more money? And you'll find out that really maybe you wanna a do this.

Maybe you don't. Anna, do IT with three hundred and sixty thousand dollars. Maybe you're like, you know what? I'm sixty seven.

I'm getting social security. I have a small pension. I'm doing all right. Maybe, maybe I own a mortgage of my house and it's Better off paying the mortgage of on my house.

There are other things for you to consider, but what should I ask at our meeting? I just give me an example of a few things that I want you to think about and what that spurs in you that you should ask. All right.

Okay, next question. I love this. Next question, ready? This is from Susan.

He said, high. Susan. K. T, thank you for all your knowledge within the last two years. Listen everybody.

Within the last two years, I was able to go from zero dollars in retirement and investments to close to three hundred and fifty thousand today, SHE said. Suzy, I wouldn't be here without you. I can't thank you enough.

I have a question. About individual broken age account and gains. This is my first year investing into individual brother age accounts.

If I sell my stock in pantier. ready? Thanks to your suggestions, susie. I bought at sixteen dollars. What is IT today?

Let's around seven.

D, K, yeah. okay. So if I sold, do I have to pay cap little gains? Can I avoided being taxed in anyway? So and then he says, thank you so much. And so first .

let me set the record straight. Everybody IT was Keith fits jelled that recommended plentier across the board at seven dollars share seven. And that's when I started to talk about IT and everything.

Even I went on cnbc and I said, everybody, you should buy and and now it's up like three or four hundred percent since then. So hopefully you listened when we first started to talk about IT or when Keith first mentioned in. So is there any way if you sell IT to avoid capital gains? No, the real question is you really think you should sell IT.

This is like a once in a lifetime kind of stock that they are probably, according to kids, will go from seventy to eighty five, up to in the hundred area. Will IT or will IT not? I don't know.

But Keith also has a thing of, once you have doubled your money in your k situation, if IT went from sixteen to thirty two, you should take those shares off the table. And that is because now everything else that in there is a free trade. You took the money, you originally invested off the table, and maybe you just hold IT on the sidelines for a while.

And if plentier goes back down, you reinvested or you take that money and you invested in something else, you can also sell half. If it's making you nervous, you don't have to be in all or nothing investor. I own plentier.

I own a lot of plentier me two K T. Owns a lot of the tilting we listened to keep. And there were many times when I went from seven to fourteen to twenty eight to thirty, we were tempted.

I'm holding.

right? We're still holding. I'm going to listen to him about this because he shows IT for a reason. And I think it's up to you, but the answer to your question is if you sell IT, you absolutely have to pay capital gains tax on IT.

All right. Hi susie. And this name, I said, I only use her name. I love the name my Angela. I think her, she's the mom, and her email is my Angela.

Hi 妈妈。

i am sixty four years old and I have a special needs son who's twenty six. I underwent a divorce a year ago. I have updated my state trust and advanced directives with power of attorney.

I have a foo N K roth, I R A and newly with equitable. My banker is asking me to invest in a nationwide variable annuity for my retirement, which will help me with my son's future. I'm not retired IT and would like to, in a year to, should I invest a hundred thousand in a variable annuity ready for this. Suzy, my net worth is about a million dollars. Okay.

she's sixty four. I get my face.

I know I am not going descry describe my face.

干嘛 just .

describe her faces getting rid IT has that expression？ Like.

are you kidding?

Are you kidding me?

Let's tell ma there. The very first thing that's important is that you have a special needs, some which most likely means that he's on S, S. I, social security income.

And if he inherits money from you after you have died, he will be disqualified from S. S. I.

And good luck ever getting back on IT. So your main thing that you need to be doing is getting a special needs trust. You need to see a lawyer set up a special needs trust.

So any money you have goes in to the special needs trust, but can be access by him or buy somebody who's his trusty and IT won't disqualify him in terms of a variable annuity for your retirement. Listen, I have a top ten hate list of investments that I hate, and I don't use that word lightly. I understand when I say that word, that IT absolutely sends shriver's.

3 shivers， sorry, shivers, sure. Here are itself.

IT absolutely .

sends the tees and .

sends something. And anyway, IT sends shivers down kt spine. SHE hates that word. hate. okay. So one of the things that I hate, the most high variable annuity, there is not one circumstance on any level where IT makes sense to do. Not one, not one.

So therefore, the answer to that question is not only should you not invest a hundred thousand dollars, you should never, ever invest in a variable annuity if you want to buy multiple funds, if you want to do things like that, exchange traded funds, individual stocks, I don't have a problem with, I don't like variable annuities and IT seems like you already have an annuity with equitable hopeful. It's a single premium defer annuity and not a variable annuity. R, K, T. next.

okay. This is my last question. This is from mary. Hi, K, T, and susie. Stock market keeps going higher and higher.

When do I take profits? I'm fifty seven and working full time for a modest salary. I don't need the money now, but i'm counting on IT for a retirement.

If the market takes a major hit, how long will you take to recover ready? Suzy SHE said, I hope you have a Crystal ball. I want to say, mary, you need a Crystal ball for these questions.

Well, here's what I can tell you. IT is very possible. If the market were to go down significantly, IT could take three, five or ten years, believe that are not for IT to recover. So you have to ask yourself the question, how long have you been invested in the stocks that you are invested in?

If you were to sell, some of them would IT be capital gains or ordinary income tax number one, cause you don't want to sell IT before you have held them for at least one year or longer. Okay, next you really have to look at your emotion questioned, which means how nervous are you because the goal money is for you to be secure. And if you currently have enough money right now, that if you were to sell after taxes and you put away safe and sound, that if you are counting on that money for retirement, that IT would absolutely be there because that would be invested in either bonds or whatever.

That is absolutely safe and sound. You are still Young. You are fifty seven years of.

So I don't know how long you plan to work, but you may plan to work. Tell your seventy because that really should be the new retirement age today. Everybody, because that's one for social security, will kick in perfect age to retire.

The market seem like they're going to continue up into twenty, twenty five. So I probably would not be selling right now if I were you, but anything could happen at any time. Sometimes when you don't know what to do, sell, have do something that makes you feel secure. But i'd like that you're invested.

And if you're invested in stocks or even an index fun that went up thirty percent this year, okay, maybe you just continue to hold on for now, but IT all comes down to what stocks are you invested in, what investments do you have and how do they make you feel at this point in time if you are afraid? Well, it's only one waited squat that fear and that's to so but then you cannot look back and get, why did I do that? So you might want to look at you have anything that's doubled in value.

And if it's doubled in value, do what keys calls a free trade, sell those shares that double and let the rest ride. Or right? K, T, know what time IT is right now. Quiz time are excited.

Yes, who the quiz? Es are not my favorite, but i'll never stop trying. I'm gonna for the gold ring who's .

giving you a call.

The goldring is is a metaphor of saying when you're on the merry go round, you try .

to grab the goldring. This is remnant joh, which is, this isn't, this is my half birthday. You have to be nice to me. okay? Did you get me a present?

I did. You'll get IT. You'll get IT at dinner time. Oh, good.

Are they my favorite? Maybe.

maybe let's not talk about IT. Let's not talk about all right.

My question is, again, this is from Linda. What would be Better to open a traditional rough, a rough I R A or mutual funds for five years? Which one would be Better? K.

probably is this for five years? Oh, that's probably the rough.

I are a sure i'm about traditional raw.

I think the routh as a traditional rough. Well, one is um I think the routh I R A will give her more benefits to say how will choose oh, hm, maybe the rose are maybe yeah.

definitely. I mean.

that's my final answer.

I gave you a.

however.

you need to listen to me. First of all, there's no such thing as a traditional rough. It's a traditional I R, A, which simply means IT is pretext, a roth I R A is after tax.

And mutual funds are just simply an investment. What you need to understand is that within the rough I R A, you can buy mutual funds so they're not mutually exclusive. It's not like, oh, you can just do mutual funds, or you can just do a lot.

A rough I R A is a tax free house for money. And within that house you have to hold an investment. And the investments you can hold ARM neutral funds, exchange traded funds, individual stocks, whatever is that you want.

So a roth ira, and within the routh I R A, you decide what you want to buy, right? Everybody, party time, party time, party time. okay. Are you getting ready for your sister? She's gonna land in just a few hours.

So let's do a sister's podcast on sunday, sunday.

sisters with.

yeah, let's do with barber. Let's tell barber, by the way, everyone is the mom of travis. And so my favorite, she's little sister.

My favorite, travis is K S. All god, these kids are so great.

So let's um let's do a sister's podcast that will be fun if you want that everyone right into the women in money APP until suz? Yes, yes, yes.

Do I do? I do IT. And by the way, the women and money APP is something that I love.

You can download for free at apple apps or google play. Just search for women and money. And you are in. Alright, everybody. So IT is my half birthday, and I do have a wish. We is my wishes, that for all of you, for all of you to be safe and sound to know that you all have the ability to be the masters of your own financial destiny, and may financial freedom class really every one of your doorsteps, and a god bless every single one of you. And may you always .

be unstop.

They are when the single S R.

I don't.

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 alliant 点 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 interested 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.

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