Podcast Summary: Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Episode: Ask KT & Suze Anything: How Can I Get A "Mega" Retirement Account?
Release Date: July 24, 2025
Host: Suze Orman Media
I. Introduction and Birthday Celebrations
The episode opens with a warm and celebratory tone as KT and Susie Orman acknowledge KT’s birthday week, extending greetings to multiple July-born friends and listeners. The hosts share personal anecdotes and heartfelt messages, fostering a sense of community and connection with their audience.
Notable Quote:
Susie Orman [01:32]: "We are strong, we are wise we will not apologize we are here we will thrive Together we will rise."
II. Listener Stories: Jen's Testimonial
A poignant testimonial from Jen underscores the profound impact Suze Orman’s advice has had on her life. Jen recounts how Suze’s guidance helped her and her late partner establish essential legal documents, providing a measure of stability following her partner’s tragic suicide. This story highlights the life-changing value of financial preparedness and the emotional support Suze offers her listeners.
Notable Quote:
Jen [04:41]: "Your straight talk, deep care, and unwavering insistence on financial clarity have helped so many of us live strong, freer lives."
III. Q&A Session
The core of the episode revolves around Suze Orman addressing various listener questions, offering tailored financial advice grounded in her extensive expertise.
A. Amber's 401k and Roth IRA Questions
Question:
Amber seeks clarity on the differences between Roth contributions and post-tax contributions within her 401k plan, and which option suits her best.
Suze's Response:
Suze explains the distinctions between pre-tax, Roth, and post-tax contributions. She advises maximizing Roth 401k and IRA options for tax-free growth and outlines the potential for additional after-tax contributions to build a "mega" retirement account, provided the plan allows for it.
Notable Quote:
Susie Orman [12:08]: "That's how people get what's called a mega retirement account. They keep doing this and then they transfer it to their Roth 401k and before you know, they have two million seriously in their Roth 401k."
B. Linda's Advance Rent Payment Question
Question:
Linda, recently retired with a substantial investment portfolio, contemplates paying her rent two to three years in advance using a work bonus.
Suze's Response:
Suze strongly advises against prepaying rent, emphasizing potential risks such as the landlord’s unforeseen circumstances. She recommends keeping funds liquid and investing them instead to ensure financial flexibility and security.
Notable Quote:
Susie Orman [15:12]: "You could do better things with that money. It's such a waste of money. I cannot even and tell you."
C. Donna's Must-Have Documents Inquiry
Question:
Donna owns a living revocable trust and considers purchasing Suze’s "Must Have Documents" package at a special rate, questioning the process of transferring her existing trust.
Suze's Response:
Suze clarifies that existing trusts cannot be directly transferred into the Must Have Documents program. She advises recreating the trust within the program for ease of future updates and stresses the importance of having up-to-date legal documents.
Notable Quote:
Susie Orman [20:30]: "Chances are what you are going to have to do if you want to do that is when you get the must have docs, you're going to essentially start all over."
D. Joni's IRA Beneficiary Naming
Question:
Joni seeks advice on whether her IRAs should be titled in the name of her trust or herself and whether to name beneficiaries directly or through her trust.
Suze's Response:
Suze advises that IRAs must remain individual accounts and should not be titled in the name of a trust. She recommends naming a spouse as the primary beneficiary, followed by children or the trust as contingent beneficiaries, depending on individual circumstances.
Notable Quote:
Susie Orman [23:28]: "If you are married, your spouse absolutely should be your primary beneficiary on any of your retirement accounts."
E. Ginny's Credit Card Holder Concerns
Question:
Ginny is concerned about her husband being the primary account holder of their credit cards, especially post-retirement when their income is lower, and contemplates applying for a new card in her name.
Suze's Response:
Suze confirms that credit cards are canceled upon the primary account holder's death, rendering authorized users unable to use the cards. She encourages Ginny to apply for a new credit card in her name based on her creditworthiness rather than income, suggesting secured credit cards if needed.
Notable Quote:
Susie Orman [24:00]: "The amount of income you have isn't really that important. What they're really looking at is have you been responsible with your bills, is it a good credit score."
F. TJ's Daughter's Debt Management
Question:
TJ shares her struggle with her 22-year-old daughter, who has accrued $15,000 in credit card debt after refinancing her car against TJ’s advice and seeks Suze's guidance.
Suze's Response:
Suze recommends maintaining a firm stance by not assisting her daughter financially, believing that experiencing the consequences of her debt is essential for her to learn financial responsibility.
Notable Quote:
Susie Orman [25:55]: "Do exactly what you have been doing. ... the only way she's going to get it is by letting her suffer. Period."
G. Tina's Roth IRA from Former Employer's 401k
Question:
Tina, a 57-year-old nurse, wants to open a Roth IRA using funds from a former employer’s 401k and is unsure whether to roll it over to her current employer’s plan or proceed differently.
Suze's Response:
Suze advises Tina to consider the tax implications of rolling over the entire amount at once. She suggests a staggered rollover to manage tax liabilities effectively and recommends opening a Roth IRA with a brokerage firm for the transfers.
Notable Quote:
Susie Orman [26:42]: "If you have less than $20,000 in your former employer's 401k... I would convert or roll $10,000 this year into a Roth IRA."
H. Chad's Hiring an Investment Professional
Question:
Chad, aged 59, is contemplating hiring an investment professional to manage his retirement savings, questioning whether the fees (1.1% to 1.5%) are reasonable compared to self-managing his S&P 500 mutual funds.
Suze's Response:
Suze cautions against hiring expensive asset managers who may not outperform the S&P 500 index. She emphasizes the importance of evaluating an advisor’s track record and suggests that unless the advisor can demonstrably exceed the index returns, self-managing might be the more financially prudent choice.
Notable Quote:
Susie Orman [29:02]: "Very few asset managers truly can outperform the Standard and Poor's 500 index... unless you find a manager who can beat the 500 index."
IV. Conclusion and Reminders
The episode wraps up with Suze and KT reiterating important offers and reminders for listeners. They emphasize the limited-time pricing for the Must Have Documents package and encourage proactive financial management. The hosts conclude with an empowering message about making money work effectively in the current year.
Notable Quote:
Susie Orman [32:09]: "This is the year to do what KT? Make your money, make more money."
V. Final Thoughts
This episode of Women & Money is rich with practical financial advice tailored to real-life scenarios faced by listeners. Suze Orman’s straightforward and compassionate guidance empowers individuals to make informed decisions about retirement planning, debt management, investment strategies, and essential legal documentation. The combination of personal storytelling and expert Q&A makes the content both relatable and highly informative for anyone seeking to enhance their financial well-being.