May 19, 2022
Listen to Podcast Episode:
Suze: May 19th 2022 .
KT: What a busy month. This has been Suze.
Suze: KT, Maybe we have too many friends.
KT: I know we have a lot of birthdays. It's the month of May. The merry month of May. Unbelievable. Tomorrow. I know we have first and most important. My little sister Barbara, Happy Birthday Babs.
Suze: How old is she going to be?
KT: and then Grover,
Suze: your dear friend. And then we have
Suze: Maureen Davis who lives with us
Suze: here on the island
Suze: two days ago was
Suze: Jennifer Littlehails'
Suze: birthday. And
KT: so it's
Suze: just you know,
KT: we have three or four or five more coming up in the week after that. So happy birthday. Everybody
Suze: Alright. Welcome
KT: Are they all Tauruses? I think so .
Suze: Um No, because now they're going into Gemini because they've passed the date
KT: But but 20 is a Taurus
KT: for sure.
Suze: For sure. Yes. But then when we go to the 21st, we go into Gemini
Suze: which is me, which
Suze: is me. What
Suze: did you get me?
KT: don't give you a birthday gift.
KT: You are my
Suze: gift. I know we
KT: don't exchange gifts if you recall.
KT: We do. We make things, we make cards.
Suze: You want to know when I'm
Suze: getting KT for her
Suze: birthday. So what
Suze: you do
Suze: know what
Suze: I have
Suze: decided because
Suze: two years ago
Suze: we were all going to go salmon fishing by the way. This is asked Suze and KT anything. But anyway,
Suze: besides that we
Suze: were going to go salmon fishing in British
Suze: and then Covid happened and then
Suze: my injuries
Suze: started and da da da da
Suze: am definitely going with her for sure sure. No matter what.
Suze: I've been
Suze: afraid to go
Suze: With her. I've been afraid to do that trip. So this trip has been postponed now for two
Suze: But we're doing it and I've decided, I don't care, I'm doing
KT: it. I'm facing
Suze: my fear
Suze: Also, I just have to tell all of you something else.
Suze: Do you know what I want to tell them about fa
KT: She's going to go back on the stage.
Suze: I've accepted
Suze: to talks for 23
Suze: 2020 23 which will tell you when we get there. But Susie finally said,
KT: KT book it.
KT: I have been postponing and canceling
KT: so many requests
KT: so many. And she finally looked to me, she said,
KT: I am going to face my fear I'm going back on the stage.
Suze: So for
Suze: all of you who
Suze: wrote me to say you could do it, Suze. She's going to give it a go.
Suze: I've booked it.
Suze: That means I have to show up because I said I would All right, KT
Suze: what do you got for
Suze: us today?
KT: So it's May
KT: 19th. This is the
KT: ask Susie,
KT: KT asks Suzy anything podcast.
Suze: before you ask
Suze: for those of you who want to write in
Suze: a question.
Suze: You can do so on the Women and Money app, download it on Apple
Suze: apps or Google play or go to ask suze podcast at gmail.com
Suze: and you can send your question in there
Suze: and if chosen we will
Suze: answer it on the podcast. Alright, KT, go on.
KT: Okay, this is from Marlena. Dear Suzy. I'm ready to fund my trust and prepared to transfer my real estate property currently held in community property in California. Do I need to hire a title company to move my property into my trust or
KT: do I go to the county tax assessor's office
KT: to change the title? If the latter, where do I find the documentation to make this transfer?
Suze: think the easiest way for
Suze: you to do it, Marlena would just go to
Suze: a title company
Suze: and have them change
Suze: the title from
Suze: your name into the title of the trust. And
Suze: for those of you who don't know
Suze: Marlena is talking about, she's created a living revocable trust
Suze: that she wants
Suze: to own her home into
Suze: the title of the trust so that
Suze: upon her death
Suze: it could pass to
Suze: her beneficiaries without
Suze: or if she
Suze: then whoever
Suze: she names in her trust can take over her affairs.
Suze: For her. Just that simple.
KT: Alright, Alright. And on the same topic Holly the next
KT: asks, does an irrevocable living trust have to be filed at a courthouse.
Suze: Did she say irrevocable right?
Suze: All of you need to listen to me.
Suze: doubt highly
Suze: that there is
Suze: anybody that is
Suze: listening to this podcast
Suze: that needs
Suze: irrevocable trust is one that does
Suze: change. It cannot change. And
Suze: there is nothing you can do
Suze: about it. Once you put
Suze: anything in there,
Suze: it's gone.
Suze: That's it.
Suze: It's cement, it has to pass and do whatever that trust says. You mainly want a revocable trust. A trust that you can change whenever you want. You can change your beneficiaries, you can change anything about it that you want to change. So if the question is, does a revocable trust have to be filed with the court house? The answer to that. It does not.
Suze: And if you're wondering out there, why do we talk about trust here on the women and money podcast is one of the main
Suze: foundations for your
Suze: entire financial
Suze: life. Should be a living revocable
Suze: trust. A
Suze: will, an advanced directive and durable power of Attorney
Suze: for healthcare and financial
Suze: power of attorney. And those are expensive documents to get.
Suze: And over 20
Suze: years ago
Suze: I developed
Suze: what was called the must have documents with my own
Suze: trust lawyer.
Suze: And now all of you
Suze: can get
Suze: dollars worth of state of the
Suze: art documents good in
Suze: all 50 states
Suze: simply by going to Suzy orman dot com
Suze: slash offer and for
Suze: $99 you
Suze: can get that and do
Suze: all of that in the luxury
Suze: of your own home. You can share it
Suze: with all the members
Suze: In your family. So it's like giving a gift to somebody, your mother, 2500, your kids, 2500, whatever it may be. And any time you want to make a change, you just go back and change it and
Suze: guess what?
Suze: It's not going to cost you anything.
KT: Shareware. Suze created shareware.
Suze: I like to call it Suzy-ware Okay,
KT: next question is from Irene, can you please do a class ready
KT: for this Suze
KT: on how to trade stock
KT: I want to learn from the best which is you
Suze: you don't trade stock.
Suze: None of you are stock traders. You
Suze: are people who invest in the stock market period.
Suze: If you are a
Suze: trader, you buy something, you sell it, you then buy something else and chances are you will lose money more than you will make money. So the key to building wealth in the stock market, even though the markets are absolutely crazy this year
Suze: is by investing in something right
Suze: now. Anyway. Little
Suze: by little dollar cost averaging into it, which is taking a specific sum of money every single month and buying something. If you don't know what you're doing, then buy exchange
Suze: funds such as the Vanguard Total Stock market index fund.
Suze: If you want to be more concentrated
Suze: in oil, maybe
Suze: you buy the XLs, whatever it may be, but that is how you do it. But you don't want to trade. If you want to be a trader turn on CNBC and watch Fast Money at five o'clock every day. They are traders? They go in, They go out and you can
Suze: learn a lot from
Suze: them but you're
Suze: not going to make money if you're a trader in most cases. All right,
KT: at least right now. Right?
Suze: well these are the types of
Suze: markets, KT that you would be trading because
Suze: you need volatility.
Suze: It goes up, it goes down, you
Suze: can do this, you can do that. But you
Suze: better know what you're doing.
KT: Alright, next question's from Ida. Hi, Suze and KT short, sweet and possibly a quizze for KT.
KT: Ready for the question everyone.
KT: And this is for you too out their audience. Suze, can I purchase a nonworking spousal Roth I. R. A. If I'm already retired? Want me to answer it?
Suze: That's your quiz. E is your mid podcast? Absolutely, yes.
Suze: And how can she do that?
Suze: Because she's already retired and she has a spouse, she wants a nonworking spouse.
Suze: can I purchase a nonworking spouse? Cell Roth Ira if I'm already retired in other words, she's not working today,
KT: does she say
Suze: if her spouse is working?
KT: she didn't say that. How can you answer that question.
KT: IDa, we don't have enough
KT: but here's the good news. That idea if your
Suze: spouse is
KT: still working?
Suze: Absolutely yes
KT: Ding Ding Ding Ding
Suze: Ding Ding Ding Ding Ding. However,
Suze: how much can ida put into her nonworking. So come on, I just gotta do Katie. I think half of what he makes. Something like that. I
KT: don't know what I'm going to
Suze: die. Absolutely. Going to. I don't know. I don't know as much as you can.
Suze: So ida
Suze: your spouse
Suze: needs to be making for you to contribute the maximum for your age,
KT: Which would be 7000
Suze: dollars a year.
KT: He or
Suze: she needs to be making at
KT: least seven
Suze: $1,000 a year or more earning. That
Suze: if your spouse
KT: Is only making three
Suze: $1,000 a year,
KT: then the maximum you can put
Suze: in is only
KT: 3000. So it's
Suze: up to seven
KT: $1000 a
Suze: Year maximum or whatever your spouse is earning. Whichever one
KT: is less.
Suze: I wanna try repeating that for me now.
Suze: Yeah. Ida, here's the good news. Let's go on. All right, this is from Sabrina
Suze: help. Suzy. I left my job. Alright. Ready? Recently left my first job and started at a new company. My recent job offered four oh one K. At Fidelity. Since I left. How do I manage this money? Do I have to move it somewhere else? Please guide me. Susie.
Suze: Sabrina just started working. Tell her that we'll tell her what a rollover is.
KT: Well, you
Suze: left your job, right? And you started a new job
KT: at a new company
Suze: That my recent job offered a 401K. Infidelity.
KT: The question
Suze: is, does your new
Suze: Offer a 401
KT: K. You did not
Suze: tell us that.
KT: So you
Suze: Have two choices. You
Suze: if you want to
KT: roll your
Suze: 401k. At your
KT: old job
Suze: Into your new 401k.
KT: Where you
Suze: are working. If they offer
KT: if they don't
Suze: Offer one Now you have more choices. You can leave
KT: it where your
Suze: first job was.
KT: Usually if you have 5000
Suze: dollars or more in it
Suze: or you can do an ira
Suze: with it. Which means you would contact Fidelity
KT: possibly if you like them
Suze: or Schwab or TD Ameritrade any discount brokerage firm. E trade you name it and you
KT: set it up with them
KT: and they
Suze: will then contact
KT: your ex employer
Suze: and do a custodian
KT: to custodian
Suze: transfer so that it goes directly from your
KT: Old 401k.
Suze: Into your ira
KT: that easy.
Suze: Okay next question is from Cathy
Suze: and this this is kind of sweet. I don't know if you can answer it but she's wondering Susie, what does that mean?
KT: You don't know if I can I'll
Suze: Tell you the question that has to do with medical insurance and deductions. Do you know why I am not able to take a deduction for the medical insurance? I paid in 2021 because I am a student
KT: because she's a student. You need a
Suze: corporation to be able to do that. You
KT: need expenses.
Suze: You need to meet certain qualifications. A student
KT: doesn't qualify
Suze: for a deduction.
KT: A medical insurance
Suze: next is from Candace by the way does everyone like this? It's kind of like boom boom boom. I'm
KT: looking at the papers in
Suze: front of her all real short. There's one there like three lines every one of them. Which is what I'm trying to aim for with this podcast.
KT: So this is a Susie shorty.
Suze: My husband and I have wrought accounts with three different firms.
Suze: Should they be combined to 1? As long as the original paperwork is kept for reference.
Suze: That's from Candace.
KT: Well it depends usually
Suze: yes Candace
KT: because you may be
Suze: finding that you are being
KT: charged a custodian
Suze: account for
KT: each one of those Roth
Suze: Iras maybe
KT: You're paying $25 a year for each one just to have them.
KT: Also. It becomes
Suze: very interesting to keep track. What do you have in
KT: this one? What do you have in that one? What do you have in this one and then when you get older
KT: forget it's true. But when you get older the good news is because they're Roth iras you don't have
Suze: to take required
KT: minimum distributions. So it's not like traditional iras that you would then have to do
Suze: the calculation
KT: from all of that. But for simplistic reason
KT: I would probably transfer it all into one account. Couldn't
Suze: do it. Next is from Katherine.
Suze: Hi Susie & Katie, I have a credit card. I never use, it costs me $39 a year. Close it
KT: close it. Can
Suze: I close it?
KT: The reason that
Suze: I would close it is $39 is $39. Now. I know very
KT: well that I have said
Suze: to you do not close down your credit cards
Suze: because when you close down a credit card,
KT: you also
Suze: closed down the credit
KT: limit that was on that
Suze: credit card.
KT: And if you close down the
Suze: credit limit that's on that credit
KT: card, it could
Suze: hurt your Fico score. But I do not like credit cards that charge you.
KT: I don't care if it's 10
Suze: dollars a year. $39 a year, 90
KT: $5 a year. I
Suze: think it's a waste of money. So therefore
KT: I would
Suze: close it down
KT: It's not going
Suze: to hurt your credit score. If you don't carry a balance on any of your credit
KT: cards, you'll be fine
Suze: if you
Suze: however, carry a balance on your credit cards.
KT: Why not try
Suze: opening up another credit
KT: card believe it or not
Suze: with the same credit
KT: limit that was on
Suze: this credit card, but that doesn't cost you anything a year to keep it. All
Suze: okay. Next question is from Denise Delgado. Do you know why I said her surname
Suze: of Ana Delgado? My dear friend. I wonder if you girls know each other. Anyway, here's a simple question and I'm actually going to answer it for you. Can the living revocable trust be named something else other than my name?
Suze: And the answer is sorry Denise. No, it cannot. It needs to be your legal name. Why is that? Because it's a legal document. It's your Living Revocable Trust. So it's my Living Revocable
KT: Trust. And I want to
Suze: call myself snoop. No way. You want to call it Lucky crab. Look, that's her email.
KT: Right? So
Suze: here's the thing
Suze: we're talking about the living Revocable Trust.
KT: The living Revocable
Suze: Trust is created
KT: by somebody
Suze: known as the trust store.
KT: That is
Suze: the person that
KT: created the
KT: And absolutely
Suze: makes every decision over
KT: that trust. As long
Suze: as not only are they the trust or but they're also the
KT: So it's
Suze: their trust.
KT: You want to make sure that your legal entities
Suze: know that it's you
KT: and if it's not
Suze: your individual
KT: name and something
Suze: happens to you, how
KT: are they gonna know whose
Suze: trust this is? So you keep it in your legal name. All right. Next question, Susie is from Joyce.
Suze: I am single. I'm going to be 60 years old and plan on retiring in five years when my mortgage
KT: is paid off,
Suze: The adviser recommended putting 60% of my 401K into
KT: a bond fund.
Suze: I know you do not like
KT: bond funds do not like bond funds is putting it. All right. All right, be calm,
Suze: be nice. I
KT: also know
Suze: you. I also
KT: know you do
Suze: not recommend stocks within five years of retirement. Where should I put my money? So she needs your guidance
KT: Susie. So Joyce on the podcast on May 15.
Suze: Just last sunday,
KT: Just last sunday, I talked about a lot about bond funds versus bonds.
KT: I don't mind individual bonds because individual bonds have a maturity date. Okay,
KT: what I do mind
Suze: is bond funds.
KT: So a bond fund
Suze: is a fund
KT: made up of individual
Suze: bonds but it does not have a maturity
Suze: Therefore if interest
KT: rates continue up, the price of that bond fund will
KT: continue to go down and bond funds have been decimated
KT: this year decimated.
KT: So why
Suze: would an advisor
KT: tell you to put the majority of your money
KT: into a bond fund right now when bond funds are absolutely being obliterated
KT: that I don't understand.
KT: You would be far better off,
KT: especially as interest rates go up and again listen to the podcast on
Suze: May 15th
KT: that look into
Suze: Treasury notes,
Suze: do a
KT: whole combination of bills, bonds, notes, whatever. Because
Suze: there will come a
KT: time again when interest rates have hit their top
KT: That you may want to buy a 30
Suze: year Treasury
KT: bond because then as interest rates go down, you can make a whole lot of money.
KT: So for now if I were you and you want to keep your money
Suze: safe and sound
KT: look into
Suze: shorter term Treasury
KT: bills or notes. That's number one. Number two, it's not that I don't recommend stocks within five years of retirement.
KT: I don't recommend you having money in
KT: on money that
Suze: you're going to need for
KT: any reason,
Suze: not just retirement.
KT: So you
Suze: have to be
KT: careful here. So is there an amount of money
KT: that you want to keep safe
Suze: and sound
KT: that you know
Suze: you're going to
KT: Need by the time that you turn 65 and retire now, it may be all of the money that you have in your 401K. If that's true,
Suze: you can do
KT: But you have
Suze: to just be careful
KT: at this point
Suze: in time. Again.
KT: Listen to the podcast on May 15.
Suze: Great. And this
KT: next question, Susie
Suze: is going to make you really mad
KT: about whole life
Suze: insurance, is
KT: it? Yes,
Suze: I knew it. This is from Shonda. Shonda. Listen up because Susie's going to get really mad.
Suze: My insurance agent keeps pushing me to switch from term to whole life insurance.
Suze: I know you've said in the past many times not to do this. He keeps sending her emails and letters after she says no. And she has good reason. She's doing exactly the right thing. I have a 12 year old son and only plan to keep my life insurance until he was 18 or out of college. I just want to make sure susie, I'm doing the right thing ready for this. This part is going to really want you to strangle this guy. He tells me I can make $40,000 on whole life. Thank you.
Suze: So tell Shonda Kiss, stick to her, Shonda, here's what I don't
Suze: that. He keeps pushing
Suze: he's pushing you to switch from term
KT: to whole life. These
Suze: are the
KT: words that you used.
KT: Why would a financial advisor
Suze: be pushing you to do
KT: something every
Suze: single month? He
KT: calls you, He writes you, he sends you emails. Why is he
Suze: so desperate? Because he needs the money because
KT: he okay t you're so smart. He needs he needs the money. Now.
KT: He tells
Suze: you that you
KT: That you can make 40
KT: Everybody, here's what I want you to do,
Suze: Shonda. I
KT: want you to call him every single day and say to him, can you tell me if I buy this whole life policy, how much money you're going to make, sir?
KT: How much money are you going to make now? There is not an advisor in the world that is talking to you about anything other than a Treasury Bill Bonder note or I bond that can say this is guaranteed
KT: because that's the only thing that's guaranteed by the full faith of the U. S. Government.
KT: There is no way that he can say to
Suze: you that you
KT: Can make $40,000 on whole life.
KT: I don't think so. In fact, I know that this will be the biggest mistake you would
Suze: ever make.
KT: And can you just
Suze: stick to your term insurance. When an advisor,
KT: all of you listen
Suze: to me right now when an
KT: advisor is
Suze: pushing and pushing it is seriously
KT: because they need money
Suze: on the commission and
KT: whole life.
KT: life and
Suze: variable life insurance
Suze: are some of the
KT: highest commission items
KT: can sell
KT: whole life could have a
KT: percent commission
Suze: on the premiums
KT: that you're going to pay the
Suze: first year. Don't you dare do this? Don't you
KT: dare do this. Don't
Suze: you dare do this, calm down,
Suze: calm down. Ready. This is from dana. And I love this question.
Suze: Hi Katie and Susie. I've been following you for many years. My husband plans to retire in four years. What should he do with his four oh one K. So he doesn't lose his money till then. He has 480,000 and 90% is in a stable value fund
Suze: 10% in the stock market.
Suze: He's still contributing to his 401K. But he's nervous about the stock market and losing his money right before retiring.
Suze: Should he be in the stock market and perhaps dollar cost average or just hold 90% in the stable value fund until he retires. The reason I like this is that dana. Why didn't he write to Susie and ask this? I could tell that dana, you're the one that's guiding him. So
Suze: Susie what should her husband do? So as
KT: you all know
Suze: I think this is going to be an incredibly rocky year for the stock market. I think that we will
KT: go into recession
Suze: by the end of the year,
KT: who knows what's going to happen in
KT: So at this
Suze: point however he
KT: might just want to
Suze: stay exactly where he is.
Suze: He has only 10% in the
KT: stock market. I'm
Suze: not exactly sure what you are invested in your stable
KT: value fund.
Suze: But even though we may go
KT: eventually in two
Suze: or three years,
KT: it should come
Suze: back and we should be okay
KT: maybe five years
Suze: at most. So
KT: the timing may
Suze: be good for him to stay where he is.
Suze: he's nervous and he's not liking it, he needs to know that if he comes out now
Suze: he's not going to be able to go
KT: back in. You cannot time the market.
KT: So it is very possible that we could
Suze: keep an eye on it. Right.
KT: Well no, it's possible. Katie, these markets could go down another 20 or 30% from here. Absolutes possible. Everybody.
Suze: But if you
KT: keep dollar cost
Suze: averaging in
KT: and if you
Suze: look at the stocks that
KT: you have
KT: and if your funds and or stocks are only down maybe 10% or so,
KT: then okay, not so bad.
KT: But if you're down 40 or 50% and you need the money you've got to make a change
KT: next time. Have him right in to dana. Okay.
Suze: Next question is from Debbie.
Suze: Hi, Susie when I retired two years ago I rolled my four oh one K. Into the franklin income fund. I'm not good with risk. So this market has really taken a toll on my nerves. Besides an annuity is there's some investment I can roll this into without paying taxes on it.
Suze: So Debbie, if you're concerned about your money,
Suze: I'm sure that you did an ira rollover with it at some brokerage firm.
KT: And within that
Suze: ira rollover
KT: you could buy if you wanted to
KT: Treasury bills or Treasury notes or something like that
KT: that could mature in two or three years and you would be safe and sound during this thing. However,
KT: the franklin income
Suze: fund hasn't
KT: done that bad. I think it's down.
Suze: I don't know. I'm just going to
KT: guess but I have a feeling about 2.5% so far
Suze: this year. Not
KT: so bad.
KT: And it's yielding you almost 5%.
KT: Pretty good.
KT: The reason that I might say you want to stay
Suze: in it believe it or not,
KT: is that your financial advisor sold you a loaded mutual fund.
KT: So you've already paid the load and the load on it was probably 3.75%.
KT: So that means whatever amount of money you gave him or her,
KT: They made 3.75% on that money. You
Suze: already paid
KT: now. The ongoing
Suze: expense ratio for most franklin
KT: funds. So I
Suze: imagine that's true for this fund as well
KT: is about
KT: 1%. Not so bad.
Suze: Not great,
Suze: but not so bad.
KT: So you're already
Suze: in this,
KT: you already
Suze: paid a
KT: load to
Suze: be in it.
Suze: at this
KT: point, given
Suze: that it's kind of stayed
KT: pretty good over
Suze: this down hall,
KT: you might want
Suze: to look into it and talk to your financial advisor and maybe
KT: just stay
Suze: put right there.
KT: So he gave
Suze: her some good advice. Well, I there were other ways she could have bought income funds without having to
KT: Pay the 3.7
Suze: 5%. But that's the Katie.
KT: I don't like
Suze: loaded mutual funds. I'm never
KT: gonna like loaded mutual funds. And that's just how I have one
Suze: more question from Doug and lisa.
KT: That's it.
Suze: hmm. Actually this is from Doug. So Doug's making
KT: sure we have time for
Suze: it. Yeah, I like this. Yeah, I like this question. Hi. Suzy. Hope you're doing well. I came across an article online that talked about a once in a lifetime transfer from your Ira account to your H. S. A. Account. So what's your advice? I'm moving some money from an ira to an H. S. A. Do it, do it, do it from the tax saving point of view. This appears to be a good thing to
KT: do. So do
Suze: it. Do it. Do it. Doug. Do it. Doug do it. Doug. Doug. Here's what
KT: you need to know what you read is correct.
KT: You have the ability once in your lifetime to take money that you have in a traditional ira. You never pay taxes on it
KT: and take that money and put it into what health savings account
Suze: which goes
KT: along with a high deductible insurance
Suze: Now if you do
KT: that you
Suze: now have it in a
KT: health savings
KT: you can invest
Suze: it there if you want
Suze: and if you use it for a qualified
Suze: expense it's tax
KT: So think
Suze: about that.
KT: You can get a
Suze: tax deduction because you put it into an I. R. A. Now it's going
KT: into your H. S. A. And
Suze: when you use it it's tax
KT: free. Fabulous.
KT: However there's a
Suze: maximum that you can
KT: roll this
Suze: year or transfer
Suze: if you're
KT: It's 3000
Suze: $650 for the 2022 limit or
Suze: $100. Because if you are married or have a family then
KT: it's 73
Suze: $100 is the maximum that you can put in
KT: unless you
Suze: are 55 or
Suze: And if you are you can add
KT: $1,000 to those
Suze: two numbers I just gave
KT: you either way
Suze: you should max out
KT: to the most. You can possibly
Suze: do. It's a fabulous thing.
KT: Do it.
Suze: Alright. Susie. That's a wrap. So we don't have an ending cuisine for you. We did my cuisine
Suze: and I got a Ding Ding Ding. I did good on
Suze: Alright so I have a made up quiz.
KT: E that I'm giving you
Suze: on the spot. Alright. Go for it. I can do
KT: it positive.
Suze: I my face my fear every day with these quizzes. Go for it. All
KT: right. This is
Suze: from Susie.
Suze: She seems to know a little bit about money.
Suze: wants to know
KT: does Katie
Suze: that if
KT: Katie buys a
Suze: series I bond,
Suze: when can she touch
KT: the money? And
Suze: how much will it cost her to do? So? I cannot touch it for at least a year after it was purchased
Suze: zero and then I can touch it after
Suze: For how
KT: Please Katie do
Suze: not do
KT: This to me. Come on, come on. The whole the whole podcast community is rooting for you. Years 2-5. What is it going to cost?
KT: Come on, please. I'm begging you.
KT: Police. You're joking. Right.
KT: Come on kate. Goodbye. Everybody be safe. Strong and secure. Really?
KT: Really? You don't know the answer. No,
Suze: I I do know the
KT: 33 what?
KT: 3% of what?
Suze: What do you mean? Of what?
KT: It's not 3%? It's a three what? Month?
KT: I'm gonna die. I'm gonna die. I just want you all know that. Can you All right in and give her some help here, Katie? It's a three month
Suze: Interest penalty. Years 2 to
Suze: penalty. So,
KT: You know, it's not a 3% penalty. It's a three month interest penalty.
Suze: It's a three-month interest penalty from years 2-5. That's what you have to give up. That's what you that's what you're dinged with for taking some money out.
KT: Did you really not know that? I
Suze: know I did know that we've gone through it last last week, This week. Sunday. I mean this is like one of my nightmares.
Suze: That's a nightmare quiz. E ding Ding, ding, ding, ding ding. Alright, everybody. Until next sunday. Right. Be safe, be strong and most will be secure. And can you just
KT: know how I bonds work? Can you do that for
Suze: me? Everybody alright by you later?
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