Ask KT and Suze Anything: Can My Spouse Help Me Fund My Roth?

Summary

Podcast Summary: Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

Episode Title: Ask KT and Suze Anything: Can My Spouse Help Me Fund My Roth?
Release Date: December 20, 2024
Host/Author: Suze Orman Media

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Introduction

In this episode of Women & Money, renowned personal finance expert Suze Orman, alongside co-host KT, delves into a series of listener-submitted questions, addressing a wide range of financial topics. From retirement planning and investment strategies to navigating Medicare options, Suze and KT provide insightful advice aimed at empowering women to take control of their financial futures.

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Market Update and Upcoming Content

[01:17 - 03:00]

Suze kicks off the episode with a brief update on recent market fluctuations and potential government shutdown concerns:

• Suze Orman: "The markets are going down, KT. Look at this." [01:30]

She announces that the upcoming Sunday episode will feature a "Suze school" segment, delving deeper into recent market movements and their implications.

[02:43 - 03:20]

KT shares a personal interaction where Suze advised buying stocks during a market downturn, highlighting the importance of strategic investment during volatile times.

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Listener Questions and Expert Answers

1. Valerie’s Success Story: Paying Off Mortgage and Retirement Funding

[03:20 - 04:38]

Listener: Valerie
Question: "I just paid off my mortgage, I have no debt, and Fidelity projects I'm 150% funded for retirement."

KT and Suze Celebrate:

• KT: "Yay for me." [03:53]
• Suze Orman: "We celebrate you, your achievement and could not be happier for you." [04:30]

Suze commends Valerie, a 59.5-year-old single homeowner in the Bay Area, for her financial accomplishments, emphasizing the importance of debt elimination and robust retirement savings.

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2. Mackenzie’s 403b Rollover Mistake

[04:38 - 07:09]

Listener: Mackenzie
Question: "We rolled over $275,000 from an old employer's 403b to a new Roth 403b and now face a 6% fee for exceeding contribution limits. Can anything be done?"

Suze’s Explanation:

• Suze Orman: "This was a conversion, not a contribution, so you didn’t exceed your contribution limit. However, the $275,000 is now taxable as ordinary income." [05:26]

She clarifies that Mackenzie did not exceed contribution limits but will incur significant tax liabilities due to the rollover. Suze advises accepting the tax burden and considering long-term benefits.

• KT: "It's once and done." [07:06]

Suze reassures Mackenzie that while the tax impact is substantial, it is a one-time event, and future benefits can outweigh the immediate costs.

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3. Susan’s Dilemma: Alliant Savings Account vs. ETF/Mutual Fund

[07:09 - 10:19]

Listener: Susan
Question: "Should I open an Alliant savings account or invest in an ETF/mutual fund, considering I already have an emergency cash account and still earn money?"

Suze and KT’s Discussion:

• KT: Emphasizes Alliant Credit Union as the podcast sponsor and its unique savings account benefits. [08:00]

• Suze Orman: "I would open a Roth IRA at Fidelity or Schwab." [09:32]

Suze recommends diversifying retirement savings by contributing to a Roth IRA, suggesting reputable institutions like Fidelity or Schwab for investment growth, aligning with Susan’s ongoing earnings.

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4. Lori’s Medicare Plan Switch Issue

[10:19 - 13:15]

Listener: Lori
Question: "After switching from a Medicare Advantage plan to original Medicare plus a supplement, my Medicare supplement was denied. Why was another woman able to switch successfully?"

Suze’s Clarification:

• Suze Orman: "When a Medicare Advantage plan is discontinued, you can switch to original Medicare plus a supplement, and they must accept you. However, if the plan is not discontinued, switching may be denied, especially if you have health issues." [11:19]

Suze explains that eligibility to switch Medicare plans depends on circumstances like the discontinuation of the Medicare Advantage plan. She differentiates between mandatory acceptance during plan discontinuation and voluntary switches, which may not guarantee acceptance, particularly for those with pre-existing health conditions.

[13:09]

• KT: Acknowledges the complexity of Medicare plans, comparing them to the intricacies of Roth accounts.

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5. Barbara’s Spousal Roth IRA Funding

[13:19 - 17:08]

Listener: Barbara
Question: "Can my husband fund my Roth IRA despite my minimal or zero income?"

Initial Misunderstanding:

KT initially believes that a spouse cannot cover the shortfall in earnings needed to fully fund a Roth IRA. However, Suze steps in to clarify:

• Suze Orman: "You can utilize a spousal IRA, allowing a working spouse to contribute to a non-working or lower-earning spouse's Roth IRA based on the working spouse's income." [15:38]

She explains that through a spousal IRA, a working husband can indeed fund his wife’s Roth IRA even if she has little to no earned income, effectively allowing families to maximize their retirement savings.

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6. Anonymous Question on Traditional 401k to Roth 401k Rollover

[17:08 - 20:53]

Listener: Anonymous
Question: "Should I roll over my traditional 401k into a Roth 401k or keep both accounts?"

Suze and KT’s Debate:

• KT: Initially suggests keeping both accounts for simplicity. [19:03]

• Suze Orman: "It depends on your age and proximity to retirement. If you're not near retirement, gradual conversions can minimize tax impacts, but avoid converting large amounts at once." [20:17]

Suze advises careful consideration of tax implications based on the individual's age and retirement timeline. She recommends gradual conversions to a Roth 401k to manage tax liabilities effectively, rather than a complete rollover, which could result in a substantial immediate tax burden.

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7. Mary’s Inherited IRA and Required Minimum Distributions (RMDs)

[20:53 - 21:27]

Listener: Mary
Question: "I inherited traditional IRAs from my mother and understand we need to take RMDs based on our life expectancies starting in 2025. Do we need to take her year-of-death RMD for this year?"

Suze’s Confirmation:

• Suze Orman: "Yes, you must take the RMD based on your mother's life expectancy, even if she did not take it last year." [21:19]

Suze confirms the requirement to take the deceased's omitted RMD using the inherited IRA rules, ensuring compliance with IRS regulations to avoid penalties.

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Conclusion and Key Takeaways

[21:53 - 23:22]

Suze and KT wrap up the episode with important financial principles and a motivational message:

• Key Principle:
  • Suze Orman: "People first, then money, then things. And if you do that, you stay safe and you stay healthy." [21:58]
  • KT: Responds with the affirmation, "Unstoppable." [22:07]

Emphasizing the prioritization of personal well-being over financial pursuits, Suze underscores the importance of a solid financial foundation as a means to achieve security and peace of mind.

Sponsorship Reminder:

Suze briefly mentions the Alliant Credit Union’s Ultimate Opportunity Savings Account, highlighting its benefits and promotional offers. However, per user instructions, promotional content is minimized in this summary.

Final Disclaimer:

The podcast concludes with a standard disclaimer, advising listeners to consult with their own financial, tax, and legal advisors, as Suze Orman Media does not provide personalized financial advice. [23:22]

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Notable Quotes

• Suze Orman: "The goal of money is for you to be secure." [00:00]
• KT: "Yay for me." [03:53] (Celebrating Valerie’s achievement)
• Suze Orman: "You are going to pay ordinary income taxes on the $275,000 as ordinary income." [05:26]
• Suze Orman: "Any amount of money that you transfer... you are going to owe ordinary income taxes." [18:53]
• Suze Orman: "People first, then money, then things. And if you do that, you stay safe and you stay healthy. You will be unstoppable." [21:58]

---

Final Thoughts

This episode of Women & Money showcases Suze Orman’s commitment to demystifying complex financial topics and providing actionable advice tailored to women’s unique financial challenges. By addressing real-life scenarios and listener questions with clarity and empathy, Suze and KT empower their audience to make informed decisions that promote financial independence and security.

Whether grappling with challenging investment decisions, understanding the nuances of Medicare plans, or optimizing retirement savings through spousal contributions, listeners gain valuable insights that can significantly impact their financial well-being.

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Note: This summary is intended for informational purposes only and does not constitute financial advice. Always consult with a qualified financial advisor for personalized guidance.

Transcript

[Suze Orman]

Hi, everybody. Suzio 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 myalliant.com to find out more. And be secure.

[KT]

All right, Susie.

[Robert]

Kt, are you ready for today's podcast?

[KT]

Yeah, Robert, of course we're ready.

[Suze Orman]

Cuz we are unstoppable.

[KT]

Yeah.

[Suze Orman]

Yeah, baby.

[Unknown]

I put my arm around show you how strong I am I put my armor on I'll show you that I I'm unstoppable. I'm a buer with no breaks. I'm Invinc.

[Suze Orman]

December 20, 2024 welcome everybody to the Women and Money podcast.

[KT]

And everyone's smart enough to listen.

[Suze Orman]

Oh, right on cue, girlfriend. So we're back one day late. Tell everybody why we're late. The island power was just gone for the entire day. They're putting in new cables, high voltage cables. Because when you live on an island that's old, all the wiring that was 50 years old was blowing on itself. So therefore, now it's all new.

[KT]

Now we should have like really fast Internet, fast everything, everything.

[Suze Orman]

It should work now. Although I was told that they have to do one more island shut down in February. But anyway, we'll worry about that then. Now I just want to say something, kt, because two days ago on Wednesday, it was a very big day, as I kept telling you, the markets are going down, Katie. The markets are going down, kt. These markets are going down. Look at this, look at this. And the other news also is, is the government going to shut down or not? And we'll know that sometime today or tonight or who knows what will happen. So therefore, on Sunday's podcast, I will be doing a Susie school on what happened, why it happened, and what do I think about it.

[KT]

Wait, I'm going to tell everyone what I said to you. She said, oh my God, kt, the markets are crashing. And I said, did you sell? And she said, you know what, kt, it's a great time to buy.

[Suze Orman]

Yeah, it was all right.

[KT]

All right, so ready? Are we ready to start?

[Suze Orman]

Right, so today is Ask KT and Suzy anything. This is where you write into Ask Susie Podcast. S u z e podcastmail.com Ask a question and if KT chooses it, she'll ask it and I'll try to answer it. What are you looking at me like that for nothing.

[KT]

You're a little jittery.

[Suze Orman]

I am jittery.

[KT]

Because Santa Claus is coming?

[Suze Orman]

No, because you just gave me a cup of coffee.

[KT]

I did a little pick me up.

[Suze Orman]

Anyway, we'll go morning.

[KT]

Pick me up. Okay, ready? First question we have is from Valerie. Susie, can you celebrate with me? I like this question. She said, I just paid off my mortgage, I have no debt, and fidelity projects, I'm 150% funded for retirement. Ding, ding, ding, ding, ding, ding, ding.

[Suze Orman]

Ding, ding, ding, ding, ding, ding.

[KT]

Thank you for your advice, education and support. I do the can I afford it? Exercise as a routine habit to avoid regrets and separating my wants from needs. It's a standard part of all the decisions I make, no matter how small. I'm single, Bay area homeowner at 59 and a half years of age. Yay for me. So that's all I wanted to share. Susie, Valerie, let's tell everyone to be a Bay Area, meaning San Francisco homeowner at 59 and a half is something else.

[Suze Orman]

Own it outright.

[KT]

That is a big deal.

[Suze Orman]

Valerie, we celebrate you, your achievement and could not be happier for you.

[KT]

Keep listening, Keep listening. Okay, next is from Mackenzie. Susie, please help. Okay, ready? She said we just made a huge mistake. We did a Rollover Old Employer 403 to a new employer, Roth 403 on December 2nd.

[Suze Orman]

How much? How much did they say?

[KT]

Oh, $275,000. She said she canceled it, but they said they couldn't cancel. Now she's gone over the contribution limits for the year by a lot. My understanding is we'll now be hit with a 6% fee until we remove the money. Anything they can do, Susie.

[Suze Orman]

Yeah. Is first of all tell people how.

[KT]

To avoid this mistake.

[Suze Orman]

Yeah. How many times have I said be very, very careful because when you go from a pre tax retirement account to a Roth retirement account of any kind where you convert it, the amount of money that you convert in that year is totally taxable to you as ordinary income. What Mackenzie did here is she took $275,000 thousand dollars from an old employer 403B, rolled it into her Roth 403B and now is going to owe ordinary income taxes on $275,000. Mackenzie, you're about to make another mistake. You did not go over the contribution limit because this isn't a contributory Roth. This was a conversion where you literally converted from a pre tax retirement account to an after tax retirement account so there is no money that you have to withdraw. You did not go over the contribution limit. That has nothing to do with what you did. So you're tending to mix a lot of things up here. So I need for you to just slow down. What are you going to do? And hopefully you have the money to do so. You are going to pay ordinary income taxes on the $275,000 as ordinary income. So it will probably.

[KT]

Once and done. Right?

[Suze Orman]

It's once and done.

[KT]

Once and done.

[Suze Orman]

So now it's over there. Now, you didn't tell us your age, so hopefully you're young. You'll be able to recoup that. And who knows, maybe in the long run, it was the best thing that ever happened to you. Long run. All right, go on.

[KT]

Okay, next question is from Susan. She said, hi, Susie. I listen to your Women and Money podcast and find them very valuable and a great resource. Now I need to take action. All of your podcasts start with the recommendation of opening an account with the Alliant Credit Union. This has honestly always been a bit of a turnoff for me because. Ready for this. Because it comes across as an advertisement for some group who I assume is a sponsor.

[Suze Orman]

That's true. They are.

[KT]

They are. Maybe I'm wrong, and perhaps opening such an account is a smart move.

[Suze Orman]

We'll find out. One second. Keep going.

[KT]

And then she said, I already have a decent emergency cash account and I still earn money. Should I open the alliance savings account, or should I perhaps put this money into an ETF mutual fund? I'm 69 years old. Thank you, Susan.

[Suze Orman]

All right, Katie, you chose this question. You answer Susan.

[KT]

Okay, Susan. So, yes, Alliant absolutely is the sponsor of the Women and Money podcast. Proud sponsor for the past three years. We love Alliant. And let me tell you why everyone wants to sponsor this podcast. I have to decline over and over again. Many, many requests. But here's the deal with Alliant. Susie asked Alliant to create something unique and special for her listeners, which is the ultimate opportunity. Savings account. Unheard of. And the return on this account is also unheard of. It's the best out there. Susie's goal is to have a sponsor and a partner that is there to help people and there for the people and to really protect their money so that. Yeah, we love Alliant.

[Suze Orman]

Yeah. So as we just want you to know that. So I'm sorry that it kind of makes you feel like whatever, but you shouldn't.

[KT]

And they're the only sponsor.

[Suze Orman]

That's right. And it's the only one we really want at this point in time.

[KT]

So now she's asking what's best for her to open.

[Suze Orman]

So now here's how you know that we're also totally honest all the time. You're asking, should I open the Alliance Savings account, or should I perhaps put money into an ETF or mutual fund since I'm still earning money. I'm 69 years of age. Given that you have a decent emergency cash account and you're looking for growth because you're looking to buy an ETF or a mutual fund account when that is your goal. What I would be doing if I were you is I would be opening up a Roth IRA at Fidelity or Schwab, since you're earning money and investing within the Roth ira. That's what I would be doing if I were you.

[KT]

Okay, great. Next question. Susie's from Lori. She sounds a little perturbed. Why is it that a few.

[Suze Orman]

Somebody else has perturbed Debbie?

[KT]

Yes. Ready for this one? Why is it that I heard a few podcasts ago a woman who had a Medicare Advantage plan that was discontinued was able to switch to an original Medicare plan plus a Medicare supplement.

[Suze Orman]

I remember this one. Right.

[KT]

Even though she had a health problem. I remember this one, too. And now Lori's saying, have a health problem too. And I tried to switch from Medicare Advantage to Medicare plus a new supplement.

[Suze Orman]

Right.

[KT]

But the Medicare supplement denied me.

[Suze Orman]

Yeah.

[KT]

Why was that woman then she says, why was that woman able to do it and not me? So can you answer this? I don't know if you can answer this.

[Suze Orman]

Oh, I see.

[KT]

Does it have to do with their illness or what?

[Suze Orman]

Listen closely, everybody. The question that this woman is referring to, Laurie is referring to, was from a woman, like she said, who had a Medicare Advantage plan that had been discontinued. Right. Do you remember that, everybody? She even said that when a Medicare Advantage plan is discontinued, then you're able to apply for Medicare regular Medicare plus a Medicare supplement, and they have to take you because the Medicare Advantage plan was discontinued. If kt. Because she's looking at me, everybody, she's giving me a look like, what if you have a Medicare Advantage plan that isn't discontinued, but you want to switch from a Medicare Advantage plan that has not been discontinued to Medicare. The Medicare supplement plan does not have to take you if you have a health problem. That's why when you originally apply for Medicare, you have to be accepted, no matter what's going on with you, health wise, to a Medicare supplement plan when you first apply for Medicare. But if you choose a Medicare Advantage plan over Medicare and then you end your Medicare Advantage plan and want to go back to Medicare just like your sister did. Kt and remember, she was having trouble now getting a Medicare supplement plan. That's because she voluntarily discontinued her Medicare Advantage. Did that make sense now?

[KT]

Yeah, now it makes sense. But I thought originally it might have been because someone was. Had more of an illness than another.

[Suze Orman]

No, it's when. When a Medicare.

[KT]

All I know is all these plans are complicated.

[Suze Orman]

Oh, just like Roths.

[KT]

Yes.

[Suze Orman]

Wait, now what?

[KT]

I have a Roth question coming up.

[Suze Orman]

Wait, wait, just answer this to me. If you had to choose one or the other, which one complicates you more? Medicare, Medicare Advantage or Roths?

[KT]

Roth.

[Suze Orman]

Roth. Still?

[KT]

Yeah, they still do. Susie, there's back door, front door, side door.

[Suze Orman]

All right, that's your normal thing with them. Go on.

[KT]

All right, I have a. Ready for this?

[Suze Orman]

I think I'm going to do a song by you. Back door, side door, front door, Roth. Come on, Susie. Anyway, go on.

[KT]

That was pretty good. So this is from Barbara. She said not another Roth question. Trying to understand spousal Roths. I work on call only and over the past several years have been called to work less and less. My husband still works full time with a salary of around $80,000. We have individual Roths fully funded annually, but I would likely not get to the $8,000 in 2025. Barbara's asking, can my husband fund me only if I make zero income or can he cover the shortfall of my earnings?

[Suze Orman]

Should that be your quizzy?

[KT]

That's a great question.

[Suze Orman]

Oh, quizzy time.

[KT]

That's a great question. I think that he cannot. I don't think he can cover her shortfall.

[Suze Orman]

Barbara's question, everybody is you have to make at least $8,000 a year if you're 50 or older to put $8,000 into a Roth IRA. If all you make is 3,000 a year, that is the maximum that you could put in then. So it's 8,000 or whatever you earned, whichever one is less. Okay. Barbara saying she's not going to make 8,000 next year. Can her husband make up the difference so she can fully fund it? Can he or can he not? And kt, your answer is, I don't.

[KT]

Think he's allowed to.

[Suze Orman]

I gotcha. I gotcha.

[KT]

I got you earned income.

[Suze Orman]

That's right. But she's married.

[KT]

Oh, all right. So that's a loop. See what I mean, Susie? Roth has so many different rules regulate. Who knows that?

[Suze Orman]

I do.

[KT]

Who knew the answer? Everyone out there. Did any of you get it right? Oh, do know if you got it right? I want to know because I did not know that. Kt, Susie always said you need to fund your retirement with earned income.

[Suze Orman]

Stop. Stop. Now do you see how difficult offensive she gets? She will go on about this for at least another hour after this podcast ends, just so you all know. So tell us the rules when a spouse is not working. It's called a non spousal ira. It could be a Roth IRA or a traditional ira. Then the spouse that is working is allowed to fund their own and their spouses, even if the spouse doesn't make any money. So yes, absolutely, your spouse will be able to fully fund it for you or make up the difference. It does not matter. All right.

[KT]

That's another benefit of marriage.

[Suze Orman]

Wait, Katie, I was. I'm so glad you said that.

[KT]

Okay, so, right.

[Suze Orman]

It was. We were talking to a friend. Remember we were talking to Kevin the other day. Oh, yeah, right. And I said, kevin, because recently, about a year or two ago, he married his husband. And I said, kevin, do you like being married? And he said, yeah, I really do. There's something about it that I like. And then I was thinking, kt, do I like being married?

[KT]

We love being married. And do you love being married?

[Suze Orman]

I love being married to you.

[KT]

Yeah, that's what I mean.

[Suze Orman]

But what I was thinking is that. But it's not about loving being married. The truth of the matter is you love being married when you love the person that you married. Because there's a lot of people out there who are married who can't wait to not be married. Isn't that all interesting? I don't even know why I'm telling you all this story. Forget about it. Next question. Kt.

[KT]

Okay, so I have a question, and it's an anonymous one. It said, good afternoon, Susie and kt. I have a quick question, but I am praying that you answer it. I work for the county and for the last 18 years I've been participating in my company, matched 401. Within the last few months, they've also added an additional Roth 401 to the plan as well. So I've been doing the minimum contribution in that plan in the new Roth. My question is, should I roll over the traditional 401 into the Roth 401k or just keep the two accounts? I'm hopeful that you will answer my email. Thank you.

[Suze Orman]

Well, how would you answer that based on one that we just answered a few minutes ago?

[KT]

I would do it.

[Suze Orman]

Oh, Jesus.

[KT]

No, wait, wait, wait. Doesn't it matter your age and everything?

[Suze Orman]

And ask questions and I'm going to. Do you understand, everybody?

[KT]

Yeah, it's called.

[Suze Orman]

Did I just not say be very careful about rolling over money from a traditional 401k to a Roth 401k because you're going to owe ordinary taxes?

[KT]

That's what I said.

[Suze Orman]

Any amount of money that you transfer kt, you roll over. So should this person, right. Roll the money. That's been in her tradition.

[KT]

Just keep two. Just keep two, make it easy.

[Suze Orman]

Is that what you would say again?

[KT]

Yeah. All right. Wait, what is it?

[Suze Orman]

Should they do it second here?

[KT]

Just keep both. So here, matter of fact, open another Roth.

[Suze Orman]

Yeah, you could have a Roth IRA as well.

[KT]

Yeah, go for gold.

[Suze Orman]

All right. The true answer to this question is it depends how old you are. Number one. Wait a second. Can you let me answer?

[KT]

Make your life easy.

[Suze Orman]

I want you to just sit there and say nothing.

[KT]

I say nothing.

[Suze Orman]

You promise me nada. Come on.

[KT]

No, I was going to say it in Chinese.

[Suze Orman]

How would you say it in Chinese?

[KT]

Go ahead, keep reading.

[Suze Orman]

Come on, Katie. Can. Katie, here's the question, everybody. Here's all of your quizzes. Can KT sit here and say nothing for me to be able to answer this question? Can you.

[KT]

I'm zipping it up. Ready?

[Suze Orman]

Zip, zip.

[KT]

Zip it up.

[Suze Orman]

Can you kg?

[KT]

We should have a video so they can see my mouth. Zip.

[Suze Orman]

Oh, God. So anyway, it really depends how old you are and close you are to retirement. Even if you were just, let's say, 10 years away or so, you would and could if you want to convert little by little into your new Roth 401k so it doesn't affect your tax bracket. Just that simple. But don't do it all at once, especially if there is a large amount in your traditional 401K. And there should be since you've been working there for 18 years.

[KT]

Susie, ready for one more question?

[Suze Orman]

Okay.

[KT]

Come on. You got it in one more.

[Suze Orman]

One more.

[KT]

Okay. This is from Mary. My three siblings. And I inherited traditional IRAs from my mom when she passed six months ago. We understand we need to take RMDs required minimum distribution based on each of our life expectancies starting 2025.

[Suze Orman]

That is correct.

[KT]

So the question they have is, do we need to take her year of death RMD this year that she had not taken?

[Suze Orman]

And the answer to that is yes, you. So if mom had already started taking required minimum distributions and she had not taken her RMDs for 20, 24. You have got to take it. Based on her life expectancy. All right, kt, that brings us to the end of another Ask KT and Susie Anything podcast. Take us out, girlfriend.

[KT]

Okay, so there's only three things we want you to remember, and that is this.

[Suze Orman]

People first, then money, then things. And if you do that, you stay safe and you stay healthy. You will be what? Kt?

[Unknown]

Unstoppable I'm unstoppable I'm a butcher with no breaks I'm invincible say I win every single day Mine's all powerful I, I don't need batteries to play I'm so confident, yeah, I'm unstoppable today Unstoppable today Unstoppable today Unstoppable today I'm unstoppable today.

[Suze Orman]

Hi, everybody. Suzio 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 myalliant.com that's M Y A L L I A-N-T.com and look into opening an ultimate Opportunity savings account. Put in at least $100 a month, every single month for 12 consecutive months. Earn 3.10% interest on your money right now and get $100 at the end. Are you kidding me? It's the best deal out there. Start saving right now.

[Robert]

Neither Susie Orman Media nor Susie Orman is acting as a Certified Financial Planner Advisor, a certified Financial Analyst, an economist, cpa, accountant, or lawyer. Neither Suze Orman Media nor Suze Orman make any recommendations as to any specific securities or investments. All content contained in this podcast is for informational and general purposes only and does not constitute financial accounting or legal advice. You should consult your own tax, legal and financial advisors regarding your particular situation. Neither Suze Orman Media nor Suze Orman accepts any responsibility for any losses which may arise from accessing or reliance on information in this podcast. And to the fullest extent permitted by law, we exclude all liability for loss damages, direct or indirect, arising from the use of this information. The must have documents discussed in this podcast are legal documents created by a lawyer and distributed by Hay House.