Podcast Episode - Ask KT & Suze Anything: Will I Really Be Able To Retire?

On this new edition of Ask KT and Suze Anything, Suze answers questions about Bitcoin, annuities, finding balance and so much more.

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Podcast Transcript:

Suze: May 22, 2025. Welcome everybody to the Women and Money podcast,

KT: and everyone smart enough to listen.

Suze: And KT, this is the day they all wait for. They wait for you for me just like me. I'm always waiting for her. She is. Why is that?

KT: Because you don't move and I move, so I'm on the move. I'm always on the move and you don't move. You're always in the same spot. I leave her I leave her sometimes on a chair and she's on her phone or computer.

KT: And I might be gone like for 6 hours when I come back in, there she is in the same spot. The only thing that changed is the amount of water that's still in her bottle,

Suze: I drink a lot. How much, how much water do I drink?

KT: Suze consumes at least 1 gallon and a half a day, so the bottles are 4 bottles make a gallon, and you go through like 6 of those big, I don't know how many ounces are in it,

Suze: I, yeah, I drink. Do you all drink a lot of water?

Suze: You should, but anyway, today is, Ask KT and Suze anything. But before we begin, I just want to say something. A lot of you have been writing in, sending in photos that you've been seeing on Facebook and Instagram and so forth with me endorsing annuities, and you should do this and you should do that. I've told you before.

Suze: That is not legit scams. They're scams. They're using my pictures. Some of them aren't even my picture. They're artificial intelligence generated. So just be aware of it. But thank you so much. But I have to tell you, if I were to literally go after all the people.

Suze: People that are trying to scam you, it would cost me so much money and they would just go away and come right back again.

KT: No, I was gonna say we'd make a whole lot of lawyers rich because that's what happens. You pay the lawyer, they send a letter, they stop doing it, take down the ad next week back up.

Suze: The best way to protect all of you is to know if you see something with my picture on it, it isn't on my website. It isn't on my Instagram. You don't see it where I am, where you would expect me on the Women and Money community app, so to speak, from me. It is not legit.

Suze: All right, KT.

KT: Are we ready? I have some great questions today. Are you ready?

Suze: You say that every time.

KT: No, but some days are better, and this mix is really good. I like it a lot. All right, OK, so the first,

Suze: What makes a better versus not? Come on, I want to know why you think that.

KT: Sometimes when they're just about Roth.

KT: They're not my favorite days. This day is a really nice mix, and some of them, if I get a question and I have no clue what the answer is, I really like that because I think I, I...

Suze: Then you like every single question

KT: That's not true, right?

KT: For instance, this one's interesting.

Suze: All right.

Suze: All right. It says on last Sunday's podcast, you said that MicroStrategy's stock might be a good alternative way to invest in Bitcoin. Why is that?

KT: So that to me is a really good question. Like what does it mean? Why is it?

Suze: Do you remember quite a few years ago when I bought a serious number of shares in a stock called Micro Strategies and I bought it like at 100 and I sold it at 1000.

Suze: And it was all about how I decided that I could play Bitcoin or invest in Bitcoin because I didn't understand the wallet and then this and that.

KT: You didn't understand for a while.

Suze: Remember that I think it was the Washington Post called us and wanting to know.

Suze: Did I have inside information? How did I know it was going to go up so much? What was going on? And I was just like, no, I just thought it was gonna work that way and because I made a serious sum of money and they were like, oh, so that's the same thing now. Micro Strategies and by the way its new name is Strategy.

Suze: Is a company that did a lot with the cloud and things like that and their CEO decided to take most of their cash reserves and to buy Bitcoin with it like just the other day I think it was on Monday, KT, Michael bought another like 7400 Bitcoin, you know, and that was like another $764 million of Bitcoin. So to answer all of your questions about that strategy is a stock symbol MSTR that does invest big time in bitcoins and therefore when bitcoin goes up supposedly... now listen to the word supposedly.

Suze: The price of strategy, the stock should also go up, but I'm telling you it doesn't always work that way. Like yesterday, for instance, Bitcoin was up at 1.35%, but Strategy at the exact same time, the stock was down 2%. So it doesn't always follow Bitcoin directly. I think today, people really are far better off if they are going to invest in Bitcoin that they just buy bitcoin directly. They can do it in Coinbase, PayPal, all different kinds of ways, or they could buy the Ibit IBIT, which is the ETF.

Suze: Or Bitcoin, so that's probably what I would be doing. But remember back then when we did it KT and MicroStrategy, there really wasn't any ETFs of Bitcoin, and it was more complicated. But today Strategy really is an alternative.

Suze: If people are looking for even more ways to invest that way, but there now are maybe even better ways, like I said, buying it directly or through IBIT, the ETF, you might be better off just doing it that way.

KT: Is it safer? Not really.

Suze: Well, I have to tell you, I always felt safer.

KT: You always felt safer. Thats' why you did it.

Suze: I felt safer because it was a stock. I could sell it. It was in the days when, you know...

KT: Remember in the beginning it was complicated because everyone bought into these bitcoins but didn't know how to get the money out, things like that that's what you didn't like.

Suze: KT, do you remember? I think it was like 2017. It was somewhere we were in Texas and this woman met with us and had this whole plan of what she wanted me to do with Bitcoin and do you remember all this?

KT: Yeah, I do remember and you were very, very cautious because it was really complicated.

Suze: Yes, but remember we had decided that we were going to risk $100,000 for

KT: about 20...

Suze: 20 Bitcoin

KT: for about $5000.

Suze: And we were all set to do it.

KT: Still nervous because we didn't know how it worked, but we couldn't figure out how to do it. They kept talking to us about this wallet and you needed this, and I said, Well, where do you keep the wallet? And in the end we decided, I'm just not doing it. Do you know how much that 100,000 would be worth today, KT?

KT: Like maybe a million?

Suze: Maybe 2,100,000, really? Yeah. Do you regret it?

KT: Yeah, yeah, I do.

Suze: I actually don't.

KT: $2 million with a $100,000 investment.

Suze: Yes, but I don't regret it because during those years it went up, down, it was, it may... now the goal of money is to be secure. I...

KT: We were never secure in that.

Suze: So I don't care if it was $20 billion.

Suze: I'm still glad we didn't do it.

KT: Ok, this next question is from Roz, and this next question is something that is very simple, but I think that...

Suze: Roz is very, very active on the Woman and Money Community app.

KT: Yeah, so wait, so listen to what Ro Roz is relatively young. I'm looking at her photo, and she's relatively young. She said, Suze, sometimes I struggle with people first, then money.

KT: It's not always a straightforward decision or an easy thing to balance. I'm looking at taking some time off from work to join my friend for her birthday. I also have financial goals, and working helps me meet those goals little by little.

KT: So I'm wondering, is anyone else out there struggling with this? Suze, do you have any advice on how to balance financial planning with life living?

Suze: Roz, listen to me.

Suze: People first, then money, then things, and every one of us is different. Every one of us has a different comfort level, and we know if we simply learn to trust our gut when we are doing something that we should not be doing and when we are doing something that we should be doing.

Suze: The mere fact that you are asking this question that you want to stop working and you want to go spend a little time with your friend for her birthday, you already know the answer to that, or you would not be asking it. You would not be asking it. You would be just going and doing it. So when it feels right.

Suze: And you do it when it doesn't feel right, you don't, and it's really just that simple if you were to put yourself first, meaning you are in touch with how you feel, you are in touch with how you think. You are in touch with what makes you feel secure.

Suze: And you stick by that. You'll always do what's right when it comes to people first, then money, then things. Next question, KT.

KT: So Suze, this question is from someone in their late 50s, whereas Roz is relatively young, but it's kind of the same idea, the same question, says Suze, I'm, I'm in my late 50s following your advice almost obsessively.

KT: And after my annual physical, it was pointing to high cardiovascular risk. I have been reflecting on how to differentiate between a savings and a scarcity mindset. Yes, how to follow your advice, but still have an abundance of energy that attracts abundance instead of scarcity, and suck the joy out of one's life, right? I think that that getting this cardiovascular risk news put her in a tizzy. So I would appreciate so much your secret on this balance which you and KT have obviously mastered.

Suze: Well, KT, have you mastered it?

KT: No, never, never. You never master something that's an unexpected. You have to face it.

KT: And then you make adjustments and you move on, but I, you don't master it.

Suze: Huh... That's an interesting answer, KT. Yeah, we're going to have to have a talk about that. So the question here...

KT: No, but you see what I mean, she, she freaked out because she had a physical.

Suze: I get that, right? So it be the same question is that how does she keep an abundance energy, when she feels like possibly her life is in danger and that energy is what attracts more abundance versus coming from a fearful place which attracts scarcity, so my answer to that would be you have to stay in a realistic place. You have to stay in how you really feel.

Suze: And if you are feeling that you are in a scarcity place, a fearful place, you have to ask yourself the question, what is making you afraid? Now if it's your diagnosis that you have cardiovascular risks, OK, what do you do?

Suze: You take that fear and you turn it into action and you eat right, you exercise, you make sure that you stay healthy and you take it right on and that energy tackling it brings this abundance to your life and who you are and what you can create, and you can change that risk and and do something about it.

Suze: So action is what is needed in order to change from scarcity to abundance and your thoughts and your feelings, so don't get yourself down every time I am down.

Suze: I need to do something to get myself up because there are plenty of times that I get down, right, KT?

KT: Oh yeah, you know, especially if it's a health struggle, but one of the things Suze and I have absolutely mastered, and I can tell you with great conviction, we have mastered something so simple. It's called the what ifs of life, and we know that at our age we've mastered it, we've seen so much of it.

KT: That we're not afraid. I don't think you and I have fear for the what ifs. We just know that they can happen and we can take them on.

Suze: But that's because we also, KT, which is a very difficult thing to do, is we both have faith that everything happens for the best.

Suze: So when you can have faith that everything happens for the best and everything you can tackle then with an abundant energy versus a scarcity one. Now is that easy? No,

KT: No way.

Suze: is it but is it possible and is.

Suze: Probable and is it necessary? Oh, you bet it is. All right, next KT.

KT: OK, so this next question is a good question. It says, hey, KT and Suze, I recently got all of my must have documents signed and notarized, but I'm wondering if I did something wrong.

KT: My name on all the documents is my full name spelled out. I signed my name, but I used an initial for my middle name on all of my documents. Will these documents be valid or do I need to resign my full name on the documents and go through getting everything notarized all over again?

Suze: Truthfully, you're fine. It's really the signature is there in front of a notary just to really verify that it is you who signed it and that's what is important. So truthfully, I think you're absolutely fine no matter what.

Suze: If it's freaking you out, you can always do an affidavit or something that says this is my full name, sign it again, but I think you're absolutely fine. Next question, my KT.

KT: OK, this is from Portia. Love this question. You have to listen to why I love it so much at the end. OK, listen up, everyone. Hi, Suze and KT.

KT: I have transferred $85,000 from my previous employer's 401k into my variable annuity at Fidelity in September 2022. Here's my question: Is there a way to calculate whether it makes more sense to roll over the remaining funds in my Fidelity IRA now and pay the surrender charge or wait it out. I'm currently paying about $380 per quarter in fees. The surrender schedule right now is 7% in 3 and a half months, and then it drops to 6% in the ninth year it goes to 0.

Suze: What she wants to know is that should she surrender this variable annuity.

Suze: Or stay in it until 9 years is up, and how do you figure that out? OK, go on.

Suze: Anything else you want to say? Yeah,

KT: OK, so wait. So, so here's what she said. One last fun note, my name is pronounced like the car Porsche.

KT: My husband overheard the Unstoppable song while I was listening to your podcast. Since he knows I go full speed at Disney and that my name is Portia, he made a shirt for our family Disney trip that said, I'm Unstoppable. I'm a Porsche with no brakes. So she said, thanks for your wisdom and confidence. Suze, there's a photo of her and we've got to try to post this In the women and money community app.

KT: I'm gonna get, I'm gonna get her to give us permission to do.

Suze: I don't need her permission. I'm posting it. All right, remember you send in something to me and I like it. I'm just gonna post it just that simple. So what's funny, KT, is that I actually wrote Portia because I saw the picture and I just cute, so cute. That's why I know I'm gonna post it. Here's the bottom line, Portia, very easy.

Suze: If you keep this policy all the way until the 9th year when there are no longer any surrender fees whatsoever for you, you will have paid approximately $9120 in fees. Depending on what year you happen to really be in, in terms of this policy because I don't have the exact numbers here.

Suze: But your surrender fee will really could be anywhere from $6300 to $6900 whatever it may be, you'll have to figure it out exactly. Whatever it is, absolutely surrender it. It makes no sense for you to be in it and really invest that money within the IRA and something that makes sense. You might even want to look at converting it little by little to a Roth IRA and really save money in the long run. So that is the answer there. All right, next KT.

KT: OK, next question. I love this is from Dottie.

KT: When's the last time you met anyone named Dottie? I love that. Reminds me of my teachers and everything.

Suze: You had teachers by the name of Dottie?

KT: Yeah, I mean, it's kind of a name from the 50s and

KT: 60s.

Suze: Was there like a comic book?

KT: Not that I remember with Dottie?

Suze: Dottie kind of like that name though. All right, anyway, Hi Dottie.

KT: Hi Dottie. Hi Suze and KT. I love listening to you both. Thank you for your wisdom and heart you share every week.

Suze: KT, who has a bigger heart?

KT: Oh, KT, I do. All right, you know I do. OK, so ready. Dottie said, I am a newly single 65 year old healthy woman still working part time.

KT: I bring home $3000 a month from work and receive $1600 in Social Security. I hope to keep working for another 3 to 4 years with about the same income during that time.

KT: Financially I have 350,000 in CDs, 250,000 in my IRA, no debt. I own my own car. I rent, but my living expenses are very low, and I still make sure I have fun.

KT: So here's the question. I'm wondering how far behind am I in retirement savings at this stage, and will I realistically be able to retire in a few years, like in 3 or 4 years? So Dottie wants to know how am I doing, Suze?

Suze: Oh, Dottie, I have to tell you it's not how far behind you are in retirement savings at this stage. It's how far you're behind in your thoughts about who you are. It's how far behind you happen to be in comparing yourself to others, because others may be making so much more money than you, have so much more money than you, and have 10 times more bills than you. I've always said it's not how much money you have. It's going to determine if you can retire or not. It's what are your bills? What does that money have to go to pay for? You, my dear, are so far ahead.

Suze: Are you listening to me, Dottie? You are not behind. You are ahead of most everybody out there. This isn't about your age. This isn't about the amount of money you have. It's what you did with the money during your working years, and you have no debt. You own your car outright. You have 250,000 in your IRA. You have 350,000 in CDs, and you're going to get Social Security. Are you kidding me? You are going to be just fine as long as your expenses are always less than the money that you have coming in. KT, next.

KT: Yeah, good, good on you, Dottie.

Suze: You know what? It makes me sad. I know what makes me sad because so many times people are out there and they look at people driving fancy cars or living in big homes or whatever and they go, Oh, I'm just so far behind. This is all I have.

Suze: And I know I've told this story before, but I'm going to just briefly tell it. For years I did the retirement planning, as you know, for Pacific Gas and Electric, which is the utility company for Northern California, and hundreds of people would come see me. Those people that worked on the gas lines and that had $2000 a month pensions that had maybe $200,000 in their 401ks and everything.

Suze: They were so able to retire it's not even funny. They spent maybe $600 a year on clothes. They owned everything outright, and their dream was a Fifth wheel. That was it. And then those people that were in the executive section of BG&E $13,000 a month pensions, hundreds of thousands if not millions, in their 401k plan.

Suze: And everything they could not afford to retire cause it wouldn't support their 3 homes, their 3 cars, their boat, their this and that. So all the people that look at those people who make a lot of money and everything and they judge themselves against them, trust me, most of you are so much better off financially speaking, bottom line wise than the people that you see out there. It's not even funny, so don't ever think you're behind.

Suze: Don't ever insult yourself. You know there's a saying when you insult yourself, you insult God. You might all want to, you might want to all think about that, all right, go on.

KT: I like that saying. So next question is from Robert. Hi, Suze, I hope you're doing well. I've been with my company for 12 years, and I don't plan to leave any time soon.

KT: But I have a question about what to do with my Roth 401k, if I leave. Would it be best to leave the money with my current company, roll the money into a Roth IRA using Fidelity or Vanguard, someone like that, or roll the money into a Roth 401k at the new company? So just curious if you tend to prefer one of these options over the others.

KT: Robert is young still. He's 38, so not close to retirement.

Suze: Robert, here's a few things that I want you to think about. The answer to that question isn't what I tend to prefer or KT might prefer. It's what you feel comfortable with. Years from now.

Suze: Cause you've only been there let's say 12 years and you're still so young, so you could obviously still be there another 20-30 years or whatever it may be truthfully, you could have amassed a great deal of money within that 401k, and you might feel secure with the investments within that Roth 401k.

Suze: You might like that their fee structure is down and what they're offering you to invest in is things that you're familiar with. It's very difficult if all of a sudden you have a million dollars or $2 million in a retirement account, which you could.

Suze: And now you have to liquidate it and transfer it over to a Roth IRA.

Suze: Now what are you going to invest in? What are you going to do with it? So you're going to have to decide what is best for you at the time when you actually do it. So you ask, should you roll the money into a Roth 401k at a new company? No, you would either leave the money with your current company or you would roll the money into a Roth IRA, either one, whatever you are comfortable with.

Suze: All right, Ms. Travis, it seems like you don't have any more paper in front of you.

KT: No, we went through all my questions. Did you like them? Did everyone listening, did you like this mix?

Suze: Oh, like they're going to talk to you right now.

KT: Do you like it?

Suze: Do you not care if I liked it?

KT: You did like it.

Suze: How do you know?

KT: Because I could tell by the expression on your face. You're smiling

Suze: I'm smiling. I'll tell you what I liked about it. I liked that you brought in the emotional and the psychological part of money.

Suze: What really aggravates me is when people treat money just like money. They don't recognize the emotions. They don't recognize the true pressure that you're under psychologically speaking, especially if you're in a relationship and you have disagreements about money and all of that. So I love that that's the way that you went. Now listen to me. Sunday is going to be an interesting Suze School.

Suze: And a little bit of a slap down, right, because I've done Suze Schools on annuities over the years and I've told you why I like them and why I don't like them, but the mere fact that there are so many comments on the Women and Money community app about annuities and does Suze like them? Does she not? Really aggravates me.

Suze: So therefore I'm going to be doing a Suze School on it for all of you to understand that you yourselves have to learn when an annuity makes sense and when an annuity does not make sense.

Suze: And not do things because I'm doing it or I'm not doing it. That's just ridiculous. Oh, until Sunday. There's really only one thing that we want them to remember, isn't it true, KT, when it comes to their money? What is it, girlfriend?

KT: People first, then money, then things.

Suze: And Roz, hopefully our answer helped you, but until Sunday, all of you stay safe. Bye bye.