Ask KT & Suze Anything: How Much Should I Charge My Child In Rent?

Summary

Podcast Title: Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Episode Title: Ask KT & Suze Anything: How Much Should I Charge My Child In Rent?
Release Date: June 19, 2025
Host/Author: Suze Orman Media

---

Introduction & Juneteenth Celebration (00:00 - 02:32)

The episode kicks off with a vibrant celebration of Juneteenth, referred to as "America's second Independence Day," which commemorates the freedom of enslaved people in Texas in 1865. KT shares historical insights, emphasizing the significance of the day and encouraging listeners to enjoy the festivities.

KT (01:36): "Juneteenth is a federal holiday for those of you that may not know. And it's really, really important."

Listener Question 1: Maximizing 401(k) Contributions (03:04 - 06:56)

Paul, a listener in his early 40s, inquires about the optimal allocation of his retirement savings. Having reached a milestone where his annual 401(k) returns equal or exceed his contributions, Paul seeks advice on whether to redirect his funds for greater impact.

Suze Orman's Response: Suze explains the power of compounding and recommends transitioning to a Roth 401(k) or Roth IRA to maximize tax-free growth. She advises against real estate investments due to current market uncertainties and underscores the superiority of the stock market for hassle-free returns.

Suze Orman (05:02): "There isn't a better investment out there than a Roth retirement account. I would not be doing real estate right now."

Listener Question 2: Charging Rent to Adult Children (06:56 - 18:17)

Keela presents a common dilemma faced by many parents: determining appropriate rent for her 22-year-old daughter and her boyfriend, who are experiencing financial difficulties. Keela, a divorced mother with a substantial income but existing debts, seeks guidance on setting boundaries without enabling irresponsible spending.

Suze Orman's Response: Suze assesses Keela's financial situation critically, highlighting the lack of an emergency fund and questioning the financial viability of Keela's daughter and her boyfriend. She emphasizes the importance of financial responsibility and suggests charging a reasonable rent ($700/month) to instill accountability. Additionally, Suze recommends establishing a family agreement outlining responsibilities and financial expectations.

Suze Orman (09:40): "You need to have a discussion with your son and see if he feels okay about it. Number two, here's how I would do it. I would be charging them $700 a month."

Suze also introduces the Women and Money Community App, where listeners can access templates for family agreements to formalize such arrangements.

Listener Question 3: Impact of Retirement on FICO Score (28:59 - 30:03)

Sean shares his experience of maintaining an impressive FICO score post-retirement, despite having no current income. He asks whether it's advisable to place a new car loan solely in his husband’s name to preserve his credit score.

Suze Orman's Response: Suze commends Sean for his excellent credit management but explains that lenders prioritize income stability over credit scores when issuing loans. Thus, she supports the idea of placing the loan in her husband's name, as his income will be the primary factor in loan approval.

Suze Orman (29:39): "Nobody's going to lend you money simply because you have a great FICO score. What they want to see is that you have the income to pay them back."

Listener Question 4: Transferring Funds Overseas (30:22 - 31:47)

Marie, a dual U.S.-Belgium citizen aged 69, seeks advice on the most economical method to transfer the proceeds from her house sale to Belgium. Concerned about unfavorable exchange rates and hefty transfer fees, Marie wants to maximize the amount received overseas.

Suze Orman's Response: Suze advises against traditional banks and credit unions due to significant exchange rate losses. She recommends using specialized financial services like Revolut for competitive rates on smaller transfers and Wise (formerly TransferWise) for larger amounts, which offer real mid-market rates with transparent, low fees.

Suze Orman (30:49): "Look into those two things and maybe you should wait just a little bit to see if our dollar gets stronger, which it should be right now, but it's not."

Must-Have Financial Documents (22:43 - 28:59)

Suze addresses questions related to Must-Have Documents essential for financial and personal protection. She clarifies that sharing these documents does not compromise personal information, as each individual must create their own secure account.

Susan's Inquiry: Susan seeks clarification on whether family members can use her Must-Have Documents.

Suze Orman's Explanation: Suze emphasizes the importance of having legal documents like wills, trusts, and power of attorney to protect families. She highlights that the Must Have Documents can be shared via activation codes, allowing loved ones to set up their own accounts without accessing Susan's personal information.

Suze Orman (25:33): "It just gives them access to the program. It does not give them access at all to your information what you put in on any level."

Elba's Inquiry: Elba asks about the essential documents parents should have for their 18-year-old children.

Suze Orman's Advice: Suze stresses that once individuals turn 18, parents can no longer make legal decisions for them. She recommends that parents obtain advanced directives and durable power of attorney for healthcare for their adult children to ensure their wishes are respected in medical situations.

Suze Orman (25:53): "You cannot make legal decisions for them at all. So an advanced directive and durable power of attorney for health care is essential."

Suze promotes the Ultimate Protection Pack for 18 Plus, available on the Women and Money Community App, to help parents secure these crucial documents for their adult children.

Final Listener Question: Selling House and Moving Overseas (30:03 - 31:47)

Marie inquires about the best method to transfer funds from her house sale to Belgium, considering unfavorable exchange rates and wanting to maximize the received amount.

Suze Orman's Final Recommendations: Suze reiterates the use of Revolut and Wise for their favorable exchange rates and low fees. She advises Marie to consider timing her transfer to benefit from a stronger dollar if possible.

Suze Orman (30:49): "For large international transfers because it uses what's called the real mid market exchange rate, which is totally transparent and they have a low fee."

Additional Resources & Closing Remarks (32:52 - 34:53)

Suze encourages listeners to engage with her content on YouTube and the Women and Money Community App for further financial guidance and resources. She promotes tools like the Ultimate Opportunity Savings Account with attractive interest rates and incentives.

Suze Orman (34:16): "Enter 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."

The episode concludes with a standard disclaimer emphasizing that Suze Orman Media does not provide personalized financial, accounting, or legal advice.

---

Key Takeaways

1. Maximize Retirement Savings: Transitioning to Roth accounts can offer significant tax-free growth benefits.
2. Instill Financial Responsibility: Charging fair rent and setting clear financial expectations can help adult children become financially independent.
3. Maintain Credit Health: While a high FICO score is beneficial, lenders prioritize income stability when approving loans.
4. Efficient International Transfers: Using specialized services like Revolut and Wise can minimize losses due to unfavorable exchange rates.
5. Essential Legal Documents: Having wills, trusts, and power of attorney documents is crucial for protecting oneself and family members.

For more insights and personalized advice, listeners are encouraged to download the Women & Money App and join the community for ongoing support and resources.

Transcript

[A]

Hey, Susie. Before we begin today's podcast, I want you to tell everyone what they must have in order to protect themselves and their families.

[B]

Well, kt, that's easy. That's why the Must have documents were named. The Must have documents. Every single one of you. If you really want to protect your family, your money, your investments, everything, I want you to go to musthavedocs.com and check it out. Learn about why you should have a living, revocable trust, a will, an advance directive and durable power of attorney for healthcare, and a financial power of attorney. That's musthavedocs.com Go there now.

[C]

We are strong, we are wise we will not apologize we are here we will die Together we will rise we're the little bit of faith and everything it takes we are strong, we are wise Together we will rise.

[B]

June 19, 2025. Welcome, everybody, to the Women and Money podcast. And everybody smart enough to listen. This is Ask KT and Susie Anything. There she is.

[A]

Here I am. Today's a really great day. Of course, one of my favorite of all. Why? It's called Juneteenth.

[B]

Oh, you love Juneteenth Every year. She loves this holiday.

[A]

Juneteenth is a federal holiday for those of you that may not know. And it's really, really. It's very important. But it's also known as America's second Independence Day. Why? This is acknowledging the freedom of all enslaved people in the United States.

[B]

When did that happen, KT?

[A]

Oh, my goodness, like 1865, something like that. But, you know, it was interesting. I was reading a little bit about the history. It was one of the generals went into Texas and announced that on this day, there were 250,000 enslaved Black people in the state of Texas. And he went in and he said, you are all free. So Texas, I mean, they probably had the biggest barbecue on earth that day. Anyway.

[B]

Where is that general today?

[A]

The end of slavery. We're very happy. So everyone's celebrating. Enjoy this wonderful, important day. All right, so, Susie, my first question is from Paul.

[B]

Go on.

[A]

All right, you ready?

[B]

You have this little smirk on your face again.

[A]

Why?

[B]

I don't know why. Why? Do you?

[A]

No, this is just a really simple question. Hi, Susie and kt. I've been a listener of your podcast for the past few years. I was gifted, young, fabulous, and broke years ago.

[B]

I think I wrote that book.

[A]

I Love that book.

[B]

2005, great book. 20 years ago.

[A]

It really helped shape how I thought about money in my 20s and 30s.

[B]

Is he now old, fabulous and broke.

[A]

Yeah. Well, wait, here's what he wrote. Thankfully, though I'm not so young, I'm also not so broke anymore. Oh, good. Paul. Paul's in his early 40s. He said, I've reached a milestone in my retirement savings where the annual returns from my 401k are roughly equal to or even greater than my annual contribution. So I've been maxing out my 401k.

[B]

Wait, wait, wait, wait. That is called compounding, everybody. Where your money is making more money for you than what you are depositing into that account. That is because Paul started 20 years ago and he had that many years for it to compound. And bingo, he now has hit a fabulous point in his retirement account.

[A]

And that's what this question is about. He said, I love your perspective. Would it be wiser to now redirect some or all of my contributions elsewhere for greater impact? Whether that's investing in a different account, purchasing an income generating property, or something else entirely, I'm wide open. And then he's thinking, this is so sweet. He said, thank you for all the guidance and energy you bring, Susie, and for your loving truth so openly. Two years ago, I proudly married my husband. And that's another celebration in June, Pride month. And while he rolls his eyes when I get onto the Suzy Soapbox, I. I'd love him to hear you answer my question.

[B]

That's why you picked it, didn't you? Yes, of course. There's always a reason she picks a question.

[A]

Ready? Listen up, husband.

[B]

Hubby, Hubby, Hubby. First of all, you say it's a 401k. Paul, you did not say it is a Roth 401k. Now maybe where you work they don't offer a Roth 401, but I need you to start getting money into a Roth. And given that you're in your 40s, I need you to start converting that money to a Roth 401k or a Roth IRA if they allow you to do a partial distribution if you're still working for them, because that's how you really will get the most for your money. Now, what else should you be doing? I have to tell you, there isn't a better investment out there than a Roth retirement account. I would not be doing real estate right now. Real estate right now really is not my favorite thing. And why is that? Because of weather situations happening out there. Because of the increase in insurance costs, because of maintenance, all kinds of things. I really believe that you can make more money with less hassle and in the stock market. So Given that you're doing so well, you understand it. What I would be doing if I were you is I would somehow be getting all of that money little by little into a Roth. And remember, you can have a Roth IRA and a Roth 401K. If you make too much money for a Roth, then do a backdoor Roth. But you need to do that. All right, next Surprise little hubby surprise. You don't get on him when he gets on his soapbox. Do you hear me? Paul's hubby? Anyway, go on.

[A]

Okay, this next question is really typical that I think many listeners will relate to. And this is from Keela. She said my 22 year old daughter is working full time and making about $30,000 a year. She attends a community college part time and will transfer to a university in about one year for her bachelor's degree. She lives with her boyfriend in an apartment. Her boyfriend works construction which is seasonal. He's not in school. He maybe makes about $20,000 a year. They're having financial difficulties and they want to move into my home with me me for a period of time to save up to buy a house eventually. Okay, ready? How do I know what to charge them? And then she goes right into giving us a little bit of her background. But this gets better. I'm divorced, I work full time. I earn about $92,000 a year. My 20 year old son lives with me who is working part time and he's in school part time at a community college and I'm helping to support him so that he can become an electrician. Yes, I still owe about 60,000 towards my mortgage.

[B]

That's all right.

[A]

My insurance, taxes and mortgage in one payment is about $670 a month.

[B]

How's that possible? But anyway, I believe it if she said it. Okay.

[A]

She said I also have a HELOC on which I ow owe $25,000 because I have been making much needed repairs to my house.

[B]

Ding ding ding ding ding.

[A]

Yes. She has no emergency fund.

[B]

Right.

[A]

She said my ex husband and I still help my daughter with her car insurance payment. The car she drives is under my name and it's paid off. She also pays her father monthly for her cell phone bill. I don't know. She makes $30,000 a year.

[B]

No one, I'm not liking this, just so you know.

[A]

All right, you ready? I want to help them out so that that way they could open up an account and put money in it every month towards the future. However, I don't want to enable them and have them Think that they don't need to be accountable for money so that they end up spending it all and going out all the time. How do I set those boundaries and establish the appropriate rent payment to help me out as well? Thanks for your help, Susie.

[B]

What does my face look like?

[A]

I'm not going to describe it on the podcast. It's what we call a radio face.

[B]

Is that a radio face? So first of all, Keila, where do I even start with you? Listen to me. You make $92,000 a year. You say that all you owe is $670 a month for your mortgage, insurance, taxes, da da da da. However, you don't have any money. How do I know you don't have any money? Because you had to take out a HELOC on the equity in your home. Why? To pay for repairs. And if you had cash, you never would take out a heloc. So even though it looks like you are doing well, I don't think you are. Because you have to think about yourself before you continue to think about your kids. When I say people first, I mean you, Mama. I mean you. Because if something happens to you and you can't work anymore and you can't make that $92,000 a year, where is all the money going to come from? Where all these kids are living to pay for your true monthly expenses? Why do I have a feeling that you gave your paid up car to your daughter and you bought another one that you had to finance because no way did you have the money to do what? Buy it outright when you didn't have the money to do repairs. So that's number one. Number two, your daughter is 22 years of age and she is living with a boyfriend that works part time, seasonal, only makes $20,000 a year and he's not going to school. Is that a boyfriend that has ambition? Don't you want somebody for your daughter? Then, all right, they make $20,000 a year doing construction, but it's seasonal and then goes out and, and does all this other stuff. Your daughter makes $10,000 more a year than this boyfriend of hers. If she wants to move into your home, is this the boyfriend that she's really going to marry? Really? I would say if your daughter said, mom, I need to move back home because I want to save money. Not this unrealistic expectation that we want to move in so we can save for a down payment on a home. They can no more afford a home than the man in the moon. She's living in this fantasy world and you're partly responsible for it. You gave her a car. You and your ex pay for her insurance, cell phone. What are her expenses? I just think it's a mistake for her and her boyfriend to be moving into your home. And I just have to ask you, how does your son feel about it? Because that's his home as well. And now all of a sudden, his sister and her boyfriend are moving back in. Number one, you need to have a discussion with your son and see if he feels okay about it. Number two, here's how I would do it. I would be charging them $700 a month. And any increase in your utility bill or food bill, they have got to pay. I'm just saying that's what I would be doing to teach them responsibility. Now, that may be more than what they're paying now, but I would not make it easy on them. $700 a month is not that big of a deal for two people to pay for rent. All right, that's number one. Number two, I would make it mandatory that they have to open a savings account and you have to agree on the minimum amount that they're going to deposit into that savings account because you're doing this so they can save money. And once a month, you listen to me now, once a month they have to show you that savings account and you have to make sure that it is growing and growing and growing. Next, you need to have what I call a family agreement, a written agreement where you say how long this is going to go on for. They can go on for six months and then you will review it to see is it working, is it not working? And if it's not working for whatever reason, they need to go and the agreement needs to say the due date for rent. It needs to say the guidelines for cleaning the house, the quiet hours, all of those things. Because they can't just move in there and expect, mama, you're going to be their maid. So they have to agree on cleaning, participating, and being a part of that household. Those are the things that I want you to think about, but I just don't have a great feeling about this. I know you say that it's going to help you, and I'm sure that it will help you, but why do I think it's going to cost you more than what they're bringing in? A 22 or 23 year old boy eats a whole lot of food, Mama. So again, they need to be responsible for their food, they need to be responsible for increase in utilities, and you need to Do a written agreement now. I will post on the Women and Money community app outline for the agreement. Use it as a template. Just copy it, print it out, put the names and everything in it, and that's what I want you to use. If they don't want to do it, they say, mom, really? We're trying to buy a house. It's like, give them a reality slap, so to speak. Because if you don't, you are not doing them any favor whatsoever. When I was her age, I just have to say I worked three jobs, three jobs to make it. And I worked every morning, afternoon and in the evening till 2 o' clock in the morning at the Red Lion Deli. Kt. That's where REO Speedwagon used to play. Yeah. But I did everything I could to save money. And then When I was 23, my brother KT gave me $1,500 to buy an old Ford Econoline van, which my girlfriend and I at the time, Laurie Seligman, with $300 to our pocket, went out and we lived in that van on the streets of Berkeley, California for quite a few months. Right. Until I landed my dream job, as she did too. Waitresses at the Buttercup Bakery. Right. That is what we did. So, Mama, I am who I am today because I had to make it on my own. Please don't try to make it too easy on them. I know I went long kt, but I don't have a good feeling about it.

[A]

There's one more thing. He works construction and it's seasonal, it's part time. Why can't he do a whole lot of maintenance and repair work on the house if that's one of his, and save Mama money.

[B]

So we should put that. You should make that part time agreement.

[A]

Special agreement, special skills.

[B]

Right? Yeah. He's got to help that way around the house, and then maybe it's worth it, but I don't know. I wish it was just your daughter moving in and not with her boyfriend.

[A]

Okay. But I love the idea that you're going to post that contract or agreement on the site on the wall. So you just need to download your Women and Money app, wherever you get your apps and look and go to the wall and you will see where Susie will post this agreement.

[B]

Yeah.

[A]

Fabulous. All right, next question. All right, next question is from Allie.

[B]

Aren't you wondering why I even have that agreement?

[A]

No, I think it's important because a lot of people ask about that. How do they?

[B]

You know, I created it years ago when I was seeing Clients and they always came to me with this question.

[A]

My kid wants to move out.

[B]

I created a template to say, here, here you go. Deal with it this way.

[A]

Well, good for you. And you have it, of course. So this is from Allie, Susie and Crew. She wrote Susie and Crew. My husband and I are late starters to everything, especially finances. We didn't purchase our first home until our late 40s. We have no debt. We have a large emergency fund. And we have about 245,000 remaining on our mortgage and and 136,000 in an IRA. He is 65. I am 61. Between our pensions and Social Security, we will be able to replace most of our current monthly income with the exception of one paycheck. We are considering taking 130,000 out of the IRA. Wait a minute. To put towards the mortgage. We will then be able to pay off the mortgage in three years and move into retirement completely debt free. This will free up $1,400 a month and almost match all of our current income. Our thought is IRA will last approximately 8 to 10 years with a monthly withdrawal of 1,400. Not having a mortgage payment gives us $1,400 a month for the rest of our lives. And principal and interest, not taxes and insurance. Is this a wise course of action for us?

[B]

All right. My dear Allie, I have to tell you that's the worst idea I've ever heard in my entire life. And the reason is this. You want to take out $130,000 from an IRA. You did not say you want to take out $130,000 from a Roth IRA because if you had, you could take out 130,000 DOL totally tax free and put it towards your mortgage. But because it's a traditional ira, you are not calculating the taxes. And if you take out $130,000, you're going to owe approximately, let's say just you and your husband make $60,000 a year. Maybe you make more than that, but just let's say that's true. You would owe approximately $26,000 in taxes if you file married, filing jointly. Okay, that's number one. At the bottom of your email you say Allie in Virginia Beach. Okay. Virginia beach, as you know, has a bracket when it comes to income taxes with the highest one being, I think it's 5.5% for state taxes. But on average you would probably owe Virginia $8,500 of income tax on that withdrawal. Now the question is, where are you going to get that from? Do you have $34,000 sitting on the sideline to pay in taxes because you cannot take it from the IRA because you want that $130,000 to go towards your mortgage. So 34,000 has to be somewhere else. But if you don't have that, then you have to take out even more. It's just nuts. You are far better off letting that money sit there. Let it compound. Invest it wisely. Let it grow and grow and grow. It could be worth $200,000 in seven, eight, nine years if you left it there and invested it properly. So I wouldn't be doing it on any level. You're thinking in theory is correct, but in reality, it isn't how it works. Next question, Katie.

[A]

Okay, next question.

[B]

Stop giving me ones that upset me.

[A]

All right, so, Susie, I have two questions that both pertain to must have documents.

[B]

The first one, take advantage of it, everybody. The birthday gift for $74 for those documents. It's over now, but I hope you did anyway. Go on.

[A]

Okay, so let's explain to everyone how this works. This is from Susan. She said, I've had the must have documents for several years. I would like clarification on your statement that you can share them with your family. Does this mean that they can use mine to set up their own must have documents or do. Does this mean they can see my trust?

[B]

Yeah. The great thing about the must have documents is that all I ever wanted was for one of you to take the step forward and buy them to protect your family. But we also made it possible for you to share with your family or those that you really love the activation code that comes with the must have documents. If you give that activation code to somebody when they sign on, they have to create their own account, their own password. Everything is absolutely private. It just gives them access to the program. It does not give them access at all to your information what you put in on any level. But it was that way that if you bought one, you then could help your mother or your father or your sister, children or whoever you are, you know, so maybe your entire nursing home, who knows? But you could help. Seriously. I had one person do that, Katie. Right. But the goal is every one of you needs the must have documents. That's why I call them must have. Every one of you needs a will, a living, revocable trust, an advance directive and durable power of attorney for health care and a financial power. All of those, if you go to musthavedocs.com now that they're off sale, really, they're still though a bargain. I'm telling you, they're $99. And those documents, if you went to a lawyer to do it with, would cost you $2,500. So you can share it with people. You can come back and change it as often as you want. If we have an upgrade, you are upgraded all free. Because this wasn't about making a lot of money. This was about making sure that you are protected. All right, KT next.

[A]

And in keeping with the same theme, this is from Elba. She said, Susie, people first, especially daughters. What can parents do to protect their most precious asset? What are the must have documents for 18 year olds? A health care proxy. Can you talk about this on your podcast?

[B]

You bet I can. Here's what all of you need to know that I don't think you know, which is once somebody turns 18 years of age, you no longer can legally make decisions for them. If your daughter ends up in the hospital and let's just say on life support and you want to take her off life support, you cannot, you cannot make legal decisions for them at all. So to that m, obviously one of the most important documents to have for yourself is an advance directive and durable power of attorney for health care. But you also need to have it for your 18 year olds or older until they're married and everything and somebody else takes that decision away of what to do. So a while ago we created what's known as the ultimate protection pack for 18 plus. And it's simply an advanced directive and durable power of attorney for health care. And this is where your daughter has to give you that power to make decisions for her or your son. So if you're interested in that, everybody, it's on the women and money community app. I think it's under Susie Shop. You can see it there. Or if you go to susie orman.com offer, you'll see the things that we offer right there, especially if you don't have the app. And by the way, while I'm talking about this, some of you wrote me and said that you want to buy the ultimate retirement guide for 50 plus, the updated version in softback. But when we brought it out in hardback, you offered it for $10 free shipping. And now when they go to Amazon, it's like $16 plus shipping. So if you go to Suziorman.comoffer, you will see the soft back there for $10 free shipping as well as on the Women in Money community app where it says shipping. So do that. So my dear Elba, you should go and get that immediately. And have your daughter sign it over for you to make decisions. All right. By the way, everybody, I think it's only $38. It's not going to break the bank. All right. It's something like that.

[A]

Great. If you have kids in school or.

[B]

Even though, by the way, that's Susie Shareware as well. If you have three kids, you have 10 kids, you can use it for all of them. Oh, your sister has kids, you can then take it, give her the activation code and she could do all her kids. So again, everything I do is Susie Shareware. All right.

[A]

All right. This question is from Sean and Sean said, hello, Susie, short and to the point. How does retirement affect your, your fico? I retired five years ago and I've maintained my FICO to be between 821 and 850. However, I also have not applied for new credit now that I have no income. If I need a new car, is it best to put it solely in my husband's name? Since I have zero income, I just wanted to assure I don't lose that score. I'm proud of it. Longtime follower.

[B]

So what's sweet is that I love that you have a great FICO score, Shawn, but nobody's going to lend you money simply because you have a great FICO score. What they want to see is that do you have the income to pay them back? So, yes, you should put it into your husband's name because he has income. Just that simple.

[A]

All right, my final question, Susie is from Marie. She said, dear Susie, my house is on the market and once it is sold, I need to send the money overseas to Belgium. I would like to leave America and return home. She wrote 30 years, so I think she's ready to go.

[B]

She's been here.

[A]

Yeah. I am with a credit union here in Florida. I hear terrible stories, stories of losing so much money to the exchange rate, US dollars to euros. Question, what is the most economical way to do this transaction? I am 69 years old. This is all the money I will have. I have A dual citizenship, U.S. belgium. Thank you.

[B]

Now, it's sad because right now the euro to the dollar and is up 15% from just a little bit ago. So you're going to lose at least 15 or 16% now. So that's a big deal. I wish you had done this just maybe quite a few months ago. When were we in Spain, KT about.

[A]

Six, seven months ago right there.

[B]

So it went from 110 down to 102. So if you had done it, then you would have been at almost parity, which for every dollar you converted, you got almost a dollar. But now for every dollar you convert, you're going to get only about 85 cents on the dollar. So I'll tell you what I do, all right? I happen to use a company called Revolut R e V O L u T and I have to tell you they offer, in my opinion, a competitive rate when it comes to exchanges and pretty much low fees. So I do that also. However, for large amounts of money, I want you to look into a company called Wise. W I S e before I think they were called transferwise, but Wise is widely recommended, just so you know, for large international transfers because it uses what's called the real mid market exchange rate, which is totally transparent and they have a low fee. So that means you get more money for your euros to your dollars than most banks, credit unions or wire services. So look into those two things and maybe you should wait just a little bit to see if our dollar gets stronger, which it should be right now, but it's not, which is not a good thing. All right everybody. Kt, that's it. That's a wrap.

[A]

That's a wrap.

[B]

So everybody, there's one more thing I do want to tell you that I want you to do and that's I want you to start going to my YouTube, the official Suze Orman YouTube channel channel. I'm starting to post videos again there, so and I want you to look at them. You would go to YouTube.com susie orman. Just go there and give it a try. All right everybody. And by the way, while you're there, make sure you subscribe and don't forget to click on that little bell. So every time I post something you get notified. So until Sunday, I have no idea what I'm going to do for Susie school. Let's see what happens to this world, right? So anyway, there's only one thing we want them to know. And what is it? Kt people, first send money, then things. Now you stay safe. Bye bye.

[C]

Here. We will thrive Together we will rise we're the little bit of faith and everything it takes we are strong, we are wise Together we will rise.

[B]

Hi everybody, Suzy O 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 dot 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.

[D]

Neither Suze Orman Media nor Suze 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 Susie 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.