Ask KT & Suze Anything: What Do I Do If I Forgot To Start Taking My RMD?

Summary

Podcast Summary: Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Episode Title: Ask KT & Suze Anything: What Do I Do If I Forgot To Start Taking My RMD? Release Date: May 29, 2025

In this episode of Women & Money, renowned personal finance expert Suze Orman, alongside her co-host KT, delves into a variety of listener-submitted questions, offering insightful advice on financial planning, estate management, and personal well-being. The episode seamlessly weaves financial guidance with personal anecdotes, creating an engaging and informative experience for listeners.

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1. Selecting a Financial Advisor

The episode kicks off with a listener named Anne expressing gratitude for Suze’s personal response to her query about selecting a financial advisor. Suze emphasizes the importance of conducting thorough research and offers to share the resources she provided to Anne with the broader audience.

Notable Quote:

• "If you're looking for the same answer that I gave to Anne, why don't you post it?" – Suze Orman [03:15]

Key Points:

• Importance of vetting financial advisors meticulously.
• Suze references her book, The Ultimate Retirement Guide, for detailed advice on evaluating financial professionals.
• Suze commits to sharing valuable resources with all listeners, enhancing their ability to make informed decisions.

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2. Personal Relationships and Financial Advice

A heartfelt question titled "Truth Hurts" is brought forward by a listener who credits Suze with providing the strength to leave an emotionally abusive relationship. Suze shares her personal experiences, highlighting the significance of self-respect and the courage to pursue healthy relationships.

Notable Quote:

• "The truth is, obviously, I've been in many relationships over the years... it's never easier to stay. It's never easier to insult yourself. Always stand in your truth and move on." – Suze Orman [05:19]

Key Points:

• Acknowledgment of the emotional challenges in ending unhealthy relationships.
• The importance of prioritizing personal well-being over financial or emotional dependence.
• Encouragement to listeners to embrace their truth and seek supportive environments.

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3. Listener Story – Manson's Coming Out and Family Support

Manson shares his experience of coming out to his family with Suze’s guidance, which resulted in a positive and supportive response. This story underscores the intersection of personal authenticity and financial planning.

Notable Quote:

• "The money will never matter. What matters is when you stand in your truth." – Suze Orman [08:46]

Key Points:

• Suze’s advice helped Manson navigate the complexities of coming out.
• Emphasis on personal truth over financial concerns.
• Celebration of familial support and acceptance, highlighting the positive outcomes of embracing one’s authentic self.

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4. Trusts and Estate Planning

Kim seeks advice on her parents’ estate planning strategy, specifically regarding the use of revocable and irrevocable trusts alongside durable powers of attorney. Suze provides a comprehensive analysis, cautioning against prioritizing asset protection over personal well-being.

Notable Quote:

• "Your parents' money is there to take care of them, to make sure that when they get older, they have the care that they deserve in a respectful way." – Suze Orman [10:52]

Key Points:

• Explanation of revocable vs. irrevocable trusts and their implications.
• Suze advises that personal well-being should take precedence over complex financial maneuvers.
• Recommendation to use Must Have Documents (will, trust, advance directive, durable power of attorney) for balanced estate planning.

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5. Title Holding and Family Estate – California Scenario

Yvonne presents a complex situation involving her parents' jointly held property in California, raising concerns about potential complications if her mother were to pass away first. Suze offers strategic advice on optimizing title holdings to safeguard familial interests.

Notable Quote:

• "How you hold title to an asset overrides the wishes of any will or trust." – Suze Orman [16:39]

Key Points:

• Importance of correctly holding title to property to ensure it aligns with the owner’s intentions.
• Suze recommends transferring the property solely to the mother’s name and placing it within a trust to prevent unintended inheritance by the father’s new partner.
• Highlights the need for immediate action to avoid probate complications and ensure the estate is distributed according to the parents’ wishes.

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6. Inherited IRA and RMDs

Kathleen’s question about inheriting an IRA and her confusion over rolling it into her existing IRA with RBC is addressed. Suze clarifies the limitations imposed by the SECURE Act and outlines the necessary steps for managing inherited IRAs.

Notable Quote:

• "You are going to have to withdraw the money within 10 years and you have to pay taxes on it." – Suze Orman [20:36]

Key Points:

• Explanation of the SECURE Act’s impact on inherited IRAs, mandating withdrawal within 10 years.
• Suze advises against delaying withdrawals to avoid hefty taxes, recommending annual distributions to manage tax liabilities effectively.
• Emphasizes the importance of adhering to IRS regulations to prevent penalties.

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7. Required Minimum Distributions (RMDs) Misunderstandings and Clarifications

Janet’s concern about missing the start of her RMDs at age 73 is explored in depth. Suze differentiates between RMD rules for employer-sponsored plans and IRAs, providing actionable steps to rectify the oversight.

Notable Quote:

• "If you are still working and your RMDs are from an employer's plan, you do not have to start taking them at 73." – Suze Orman [22:42]

Key Points:

• Clarification of RMD requirements based on the type of retirement account.
• Suze advises consulting a CPA and filing necessary IRS forms to address missed RMDs, potentially avoiding penalties by demonstrating reasonable cause.
• Highlights the distinction between RMD rules for IRAs versus employer-sponsored retirement plans like 401(k)s.

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8. SEP IRA Contributions and Long-Term Strategies

KT raises a question about the viability of continuing contributions to a SEP IRA. Suze discusses potential strategies, including converting SEP IRA funds to Roth IRAs to leverage tax benefits and long-term growth.

Notable Quote:

• "Sometimes you might be better off paying the taxes now and then investing that money in an individual brokerage account." – Suze Orman [25:21]

Key Points:

• Suze evaluates the pros and cons of maintaining a SEP IRA versus exploring other investment avenues.
• Suggests using SEP IRA contributions for tax write-offs and converting to Roth IRAs for tax-free growth.
• Encourages a holistic approach to retirement planning, considering both tax implications and investment growth.

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Personal Anecdotes and Community Engagement

Throughout the episode, Suze and KT share personal stories and interact with their community, fostering a sense of connection and relatability. They discuss upcoming birthdays, memorable experiences, and the supportive nature of their listener base.

Notable Quote:

• "People first, then money, then things." – KT [29:03]

Key Points:

• Emphasis on prioritizing personal relationships and well-being over financial pursuits.
• Celebration of community milestones and shared experiences, reinforcing the podcast’s supportive environment.
• Encouragement of listeners to engage with the Women & Money community for ongoing support and knowledge-sharing.

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Conclusion

Suze Orman and KT wrap up the episode by reiterating the importance of prioritizing people and personal well-being in financial decisions. They invite listeners to stay connected through the Women & Money app and participate in their growing community.

Final Quote:

• "People first, then money, then things." – KT [29:03]

Closing Thoughts:

• Suze underscores the notion that financial security is deeply intertwined with personal happiness and relationships.
• Encourages listeners to take proactive steps in managing their finances while maintaining their integrity and personal values.

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This episode of Women & Money offers a blend of practical financial advice and personal wisdom, empowering listeners to navigate complex financial landscapes while staying true to their personal values and relationships. Whether addressing estate planning intricacies or the emotional aspects of financial decisions, Suze Orman and KT provide invaluable insights to help women achieve both financial security and personal fulfillment.

Transcript

[Susie 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.

[Unknown]

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.

[Susie Orman]

May 29, 2025 welcome everybody to the Women in Money podcast as well as everybody and I. Oh so mean everybody smart enough to listen. Today is Ask KT and Susie Anything. And this is where you can Write in to asksusypodcastmail.com Ask a question if Ms. Travis chooses it or oh, we'll answer it on the podcast and you just never know when I will answer you personally. How are you this morning, Ms. Travis?

[KT]

I'm great. And to Susie's point about whether or not she answers you personally, listen to this first comment from Anne.

[Susie Orman]

Oh, well, there you go, Susie. You didn't even know what I was going to say. So how'd you have that in order?

[KT]

Susie wow. Thanks so much for responding to my email. You made my day. When I saw your response, my husband was sure that someone answered it for you.

[Susie Orman]

Figures.

[KT]

And I loved it at the end when you identified that it was you answering. More importantly, you are helping me to feel more confident with interviewing and selecting a financial advisor with your response. Thanks again for all all of your advice over the years. I love how it makes common sense and trying to make smart, informed decisions with money can be confusing and costly. Take care. Wishing you well. Keep up the great work, Susie. Ann.

[Susie Orman]

Thank you, Ann.

[KT]

See, her husband doubted that you're the one. And let me tell all of you, no one responds to any of you except Susie. No one.

[Susie Orman]

We don't even have anybody to tell.

[KT]

Well, no, she has her editor Carla that she's worked with for 25 years. You all heard about Carla's birthday on Sunday. If you listen.

[Susie Orman]

But that's for books and things that would be for.

[KT]

But not for.

[Susie Orman]

Not for financial advice.

[KT]

Yeah. Even when I try. No.

[Susie Orman]

And why do you try?

[KT]

But. But let's tell everyone if they're looking for the same answer that you gave to Anne or why don't you post it?

[Susie Orman]

Oh my God, it's so long.

[KT]

So What? They want it.

[Susie Orman]

Let's go. I sent Jan a list of every. She wanted to know how you check out a financial advisor and make sure that they're okay. And I talk about it. I think it's in chapter eight of the Ultimate Retirement Guide, which, by the way, is out in softback now. And the audio is coming out in June sometime, so you might want to check that out with all the changes because there were so many changes from when the book first came out a few years ago. But Ann wanted to know more ways to check out a financial advisor, and. Oh, I gave them to her. So in honor of Ann, because I'll post it for all of you, the resources that I sent to Ann. All right, Katie, next.

[KT]

Okay. And this next one is kind of the same. This subject was called Truth Hurts. Ready? So, Susie, my friend group calls you our selected mentor.

[Susie Orman]

Thank you.

[KT]

We love your financial advice, but your thoughts on relationships have been at the forefront of our conversations. I wouldn't do it again. Letting fear and shame control my actions kept me in a relationship that was emotionally abusive and manipulative.

[Susie Orman]

I've been there.

[KT]

You've heard that before.

[Susie Orman]

I've been there.

[KT]

So then she goes on to say, thinking there might be a KT just around the corner gave me the strength to leave. And I love you both for it.

[Susie Orman]

Let me tell you what's so great about that. Right. The truth is, obviously, I've been in many relationships over the years. I met KT when I was 50, turning 50. But I stayed in these horrific, in my opinion, relationships. On some level, I wasn't. What would you say was I. I was just. They weren't healthy, but.

[KT]

No, they. They were. They were just there.

[Susie Orman]

They were there.

[KT]

They actually had. They didn't contribute anything.

[Susie Orman]

But I just stayed because I thought it was easier to stay than to leave. And I didn't know that there was a KT out there. I didn't know what a true relationship, an honest relationship, an equal relationship was because I had never had one. I'm so touched, KT that people are sensing that there can be a KT out there for them, because I stayed. Especially in the last relationship, eight years in a relationship that after six months, I knew was going nowhere. And so. Because it was just easier to stay. But it's never easier to stay. It's never easier to insult yourself. It's so always stand in your truth and move on.

[KT]

Yeah, that's why I thought that title was great. Truth hurts.

[Susie Orman]

It does hurt.

[KT]

All right, now this next one's even better.

[Susie Orman]

Oh, so you're into. Before we go into questions like that.

[KT]

These are all important because it's kind of just. I'm just in that mood to share great things, great news with everybody because.

[Susie Orman]

It'S one week before my birthday.

[KT]

Oh, her birthday's next Thursday, everybody. What are we doing? How are we celebrating?

[Susie Orman]

I have two gifts for you.

[KT]

What about my gift to you?

[Susie Orman]

I don't want any gifts on birthdays.

[KT]

We don't exchange gifts anyway.

[Susie Orman]

Not physical gifts. Right. Written gifts, things like that. But there's something that you've been wanting me to do now for many, many years. Kt.

[KT]

Oh, don't make me cry.

[Susie Orman]

Right.

[KT]

And I know, I know what she's gonna do, but let's not reveal it.

[Susie Orman]

And I'm going.

[KT]

We're gonna reveal it next week. And if she's.

[Susie Orman]

Weather permitting.

[KT]

Yeah, if it's what I think it is. I'm going to post a photo for all of you.

[Susie Orman]

Yeah.

[KT]

And then you'll cry.

[Susie Orman]

So I'm going to try.

[KT]

All right, Susie, this next one is one of your all time favorites. Ready? It's from Manson.

[Susie Orman]

I remember Manson.

[KT]

Remember Manson. So Manson wrote.

[Susie Orman]

But wait, tell everybody about Manson.

[KT]

I want you to tell them. But let me read what he sent you. He just sent this. He just said this. Hi, Susie and kt. I was on the podcast about a year ago. Everything worked out just as you and KT said it would. Regarding coming out to my family. Right.

[Susie Orman]

Yeah.

[KT]

I graduated from law school last week with my mother and partner Justin taking the photo, watching so proudly. Can we post this photo?

[Susie Orman]

Sure we can.

[KT]

Manson is here in his UC Davis gown. It's such a great photo.

[Susie Orman]

Law school. That's law school.

[KT]

And he's with his mom and sister, I think with him and his partner. Justin is taking the photo. You should see the smiles on the three faces.

[Susie Orman]

Yeah. What's interesting, everybody is this is a man. And if you listen back, I don't know which podcast it is. Right. But it's obviously about a year ago, we're. He rode in and he was scared to death because he had a year or so left on his. He had law school degree and obviously his mother was helping him financially and had property or something like that that she might leave him. And he was scared to death that.

[KT]

She would cut him off, that she.

[Susie Orman]

Would cut him out of that whole will and trust later on if he came out to her and said, mom, I'm gay. And I wrote him back essentially saying to him, the money will never matter. What matters is when you stand in your truth and on and on and on. And it was fabulous. And here we are a little bit later. He told his mom, obviously she is fine with it and he's doing great. I just love that one. So anyway. All right.

[KT]

All right, next is from Kim. Hi there, Susie.

[Susie Orman]

Are we at questions yet? Not yet.

[KT]

Yes, this is a question. This is our finally, finally, finally.

[Susie Orman]

Nine minutes into it, we're at the Ask KG and Susie Anything podcast. All right, go on.

[KT]

So this is from Kim. Hi there, Susie. My parents and I and my older brother are trying to piece together what we should obtain in addition to my parents will that they made a long while ago. I know that they want a durable power of attorney over financial and health, but they also want to get an irrevocable trust and a revocable trust as well. Everyone's confused right now here, Susie.

[Susie Orman]

Yeah, I'm not.

[KT]

One of the main reasons why they want a revocable trust is that they can be in control of the money or assets they put into it. In conjunction with that, they would also like to have an irrevocable living trust so that in the rare case that they have to go to a nursing home and they put the house, cars and maybe some money in it that the state won't go after that. They're very confused here.

[Susie Orman]

They're not confused.

[KT]

I said I want to know if this is something that you think is a wise choice and if so, are the assets protected from day one in an irrevocable living trust? And.

[Susie Orman]

So there you go. So obviously, kt, you have a family theme and a personal and a personal truth telling theme going on here in this podcast. Kim, I want you to listen to me, people first, then money, then things. Been my motto now for 20 some odd years or longer, actually. And the truth of the matter is your parents and even possibly you seem to be putting money, believe it or not, before themselves. It's true. If they put things in an irrevocable trust in everybody, an irrevocable trust means you cannot touch, no longer is part of your estate. It's now out of your hands. Somebody else is in control of it. You are not. So that's a big deal because a lot of times you think things are, oh, I'll just put it in an irrevocable trust. I can then go into a nursing home. The state will pay for it. Everything will be great. Da, da, da, da. Listen to me and listen to me closely. You can put it in an irrevocable trust and somebody else will have control over it. But what happens if something happens to the person who has control over it? What happens if all of a sudden they die and the next person. It can become very, very complicated, number one. Number two, you do not want to put money before your own benefit to go in a nursing home where a state pays for it on Medicaid. If you think the care in a nursing home on Medicaid is going to be as good as when you are a private pay patient, I am here to tell you you are going to make one of the biggest mistakes out there. It does not work that way. Are you at all listening to the news about how certain bills that are being passed could cut down on Medicaid, could cut down on Medicare, can make it very, very hard. There are many, many nursing homes for many reasons now that are starting to actually close down because they don't have the money anymore to continue to run. So to put this money, your parents, money in front of their care just so you could be okay and have the money, the house can be protected is not something that I advise. Their money is there to take care of them, to make sure that when they get older they have the care that they deserve in a respectful way. If they go through the money okay, then you just have to figure that out. But your parents well being should come first. So I would never ever do something like that. Obviously a revocable trust absolutely makes sense because they can change it anytime they want and they're in control of it. But if something happens to them in case of an incapacity, whatever it may be, because they end up in a nursing home, let's say with Alzheimer's, and you can sign for them, people can take care of them while their money is still in trust. And if anything did happen to them, they die. It can pass without probate. So therefore I have a problem with a revocable trust. That's why the must have documents exist. The form must have documents which happen to be a will, a revocable trust, an advance directive, durable power of attorney for health care and, and a financial power of attorney. Go to musthavedocs.com $99 there $2,500 State of the art documents. If you went to a lawyer, that's what they would cost you. So this is something that you should look into and you can change them anytime you want and on and on. That's musthavedocs.com that you should do. But the rest of it isn't what wise? I can go on and on and on, but that's my opinion. Kt, go on.

[KT]

Okay, next question. Susie from Yvonne. Hi KT and Susie.

[Susie Orman]

It's kind of mysterious with this one.

[KT]

Well, this one is interesting.

[Susie Orman]

Aren't they all?

[KT]

Yeah, but this one. Ready. This reminds me of someone we know. I want to create a trust and put our parents house into it. My wife and I have our own trust. Thanks to you, I have three siblings. My mother wants the house to be split among the four kids after she transitions into whatever is next. Now ready? Susie, listen carefully. The risk is if she moves on first. My father has a girlfriend and we're not quite sure what he would do. She this is the worst part. Ready. They're from the state of California. My mother and father are still legally married. My mother has been living in the house all her life with one of my brothers. My father lives in a nearby city. The house is in the state of California community property state. So Yvonne goes on Susie to ask all these what ifs? What if my father does this and what if my father dies?

[Susie Orman]

Well, here's the real question at hand, Yvonne. How is title to this house held? Because if the title to this house is held as joint tenants with right of survivorship and mama dies, it does not matter if she has a will, it does not matter if she has a trust. Because listen to me closely, everybody. How you hold title to an asset overrides the wishes of any will or trust. So if the house is held in joint tenancy with right of survivorship, it will immediately go to your father. Now it's in his name. And if his will says, hey, it's to go to my girlfriend or whatever it is, guess what? You have just been disinherited. Now, if mommy is living in that house with your brother, your father is not living in that house, obviously has another girlfriend, yet they are still married. The proper way for mommy to do it after she's divorced is to get the title to that house in just her name, number one, number two, then transfer it to the title of a trust held for her benefit while she's alive. And upon her death, it goes to all the four kids, divided however she wants to do so. But she needs to deal with it now because otherwise your greatest nightmare if she dies first is absolutely going to happen. So the only way to prevent that is to stand in your truth or right now and deal with this. Now, I'm not exactly sure why she hasn't divorced him, but maybe it's an amicable relationship. And maybe he's willing to say, oh, yeah, I'll take the house out of my name and just put it in your name right now and that's it. But you have to make sure that she has a trust and it goes to you guys, because otherwise what's going to happen if she doesn't have a will, she doesn't have a trust, and it's just in her name and she dies intestate in the state of California, the next beneficiary will be her husband. So bottom line, you have got to get. She's got to get divorced and somehow figure that out.

[KT]

All right, Katie, so step one, get a divorce. Put the title only in her name and put the house in a trust.

[Susie Orman]

And that's what I would be doing. But they might have reasons why they haven't gotten a divorce. Like, is she getting his Social Security? Is he. I don't know why she should just.

[KT]

Ask him to put the house title.

[Susie Orman]

In her name to start with. Yes.

[KT]

And see what happens.

[Susie Orman]

And then make sure that she has it so that her will, her trust, leaves it to the kids. Or if she's really freaked about it, put all four kids on the title and have them all be joint tenants with right of survivorship. But that would be a serious mistake if she did that because they wouldn't get a step up in basis and on and on. All right.

[KT]

Okay.

[Susie Orman]

See how complicated things can absolutely be?

[KT]

Yeah. All right, so here's one more family matter. Ready? My siblings and I inherited my aunt's IRA in 2020. 20am I able to roll it over to my IRA I have with RBC. That's the world bank of Canada, everyone, good bank. So I don't have to withdraw within 10 years and not be able to reinvest the large sum, which is about $100,000. That would give me five more years of investment before I have to start withdrawing. So what should Kathleen do?

[Susie Orman]

Here's the thing, Kathleen. The question you're asking is your siblings and you inherited your aunt's IRA in 2020. The date 2020 is important because the Secure act now is in effect. So then your question is, am I able to roll it over to my IRA I have with rbc? And the answer to that is no, you are not, because you are inheriting this ira. So you have got to open up what's called an inherited ira. You cannot mix this money with your IRA that you already have. And you're saying, can you do that so you don't have to withdraw the money within 10 years and not be able to reinvest the large sum. You are going to have to withdraw the money within 10 years and my advice to you would be do not wait till the 10th year to withdraw it because it will be taxed to you as ordinary income and that will be a big deal. You should be taking out a 10th every single year and pay taxes on it and at that point so you can't outsmart this one my friend.

[KT]

All right Susie, just one more question since we're talking about RMDs. This one's really a good one from Janet. She said I've got a problem with not starting to take my RMDs at age 73. I was misinformed on when to start, having been told as long as I am working full time I don't have to start taking RMDs. I recently turned 76 and I'm considering retiring very soon. Susie, can you advise me on what I need to understand and do?

[Susie Orman]

Funny, because I bet a lot of.

[KT]

People don't know anything about this.

[Susie Orman]

A lot of people don't know anything about a lot when it comes to RMDs. But I actually wrote Janet back.

[KT]

Oh good.

[Susie Orman]

I told her exactly what to do, which is what I don't know is is she talking about RMDs from an IRA or is she talking about RMDs from an employer sponsored plan such as a 401K, 403 or TSP? Because KT, the truth is as long as she is working full time, which obviously she is right because that's what it says that you don't have to take RMDs from a 401 or 403 or a tsp. However that is not true for IRAs. So if you're still working everybody and you are working full time, which again Janet, is if you're working and the RMDs are from your employer's plan, your 401k, 403 or TSP, you do not have to start taking them at 73. So it is important that you understand that's the rule for retirement accounts from employers. However, if you have any IRAs or you only have IRAs or whatever it may be, then that doesn't apply. So if you have a SEP IRA, a simple IRA and any of that, you have to take RMDs from the IRAs even if you are working full time. Let's just say she had some IRAs and she missed her RMDs then she has to take those as soon as possible. She needs to fill out forms with the irs, which she really should do, go see a CPA and have them straighten this out out. And the IRS may waive the penalties entirely if she can show reasonable cause and everything. But yes, you look at me. You have a question?

[KT]

Yeah, I do have a question. Uh oh, should I still be contributing to my SEP ira?

[Susie Orman]

You could be if you want to be.

[KT]

You think it's worth it?

[Susie Orman]

Listen, everybody, just because you have to take out once you turn 73 and soon to be 75, they'll change. That doesn't mean that if you have earned income like both of us do, KT, that we could contribute to your SEP IRA. You could put $70,000 in there if you wanted to and all and take it as a tax write off and then you could convert it to a Roth IRA if you wanted to. That might be a strategy that we look at, however, and I've talked about this everybody on the podcast before, sometimes maybe you're just as well off if rather than taking a tax write off and putting it into something that's going to compound for you over the years and then you go to take it out and you pay even more in taxes, you might be better off just paying the taxes now and then investing that money in an individual brokerage account like you have kt and you don't pay taxes on that while it's in that stock. Let's say that you bought and when you go to sell it, if it is held over a year, you pay capital gains tax on it, but it's still compounding as if it could be.

[KT]

Making more money in the long run.

[Susie Orman]

It could be making more money after taxes.

[KT]

I'm not going to put any more in.

[Susie Orman]

Well, you know, we should look at everything and just.

[KT]

I need to find an advisor.

[Susie Orman]

You think that's cute, don't you? You think that's cute, right? It's like. But I don't.

[KT]

Suzy, what should I do?

[Susie Orman]

The only thing we could contemplate really, is putting in a lot of money in our SEP IRAs, converting it, paying taxes now, and letting it compound forever tax free. However, I just thought. But we can play around with that. But notice I said the word play around. All right, so anyway. All right, now what are we going to do today?

[KT]

Well, we could make birthday plans.

[Susie Orman]

No, I've already planned it out. So many people having birthdays this month.

[KT]

Yeah, right. It's a good month.

[Susie Orman]

Yeah.

[KT]

So. All right, well, it's going to Be a good month. June. June are a lot of birthdays.

[Susie Orman]

So many.

[KT]

Remember when we were in New York working was Anderson birthday, Anderson Cooper, Cooper's birthday on the third, right?

[Susie Orman]

And Kathy Griffin and I, I'll never forget this one. Listen, CNN is live television, absolutely live. And Kathy, don't even ask me how she talked me into this, was like, let's go bust into his set live. And I said, how are we going to get in? And they go, you're Susie Orman, I'm Kathy Griffin. They're not going to stop us, right? And so we got there and we walked right through and they said, oh, hi, Susie. Hi, Kathy Anderson. And Kathy goes, we're going up to see Anderson. Okay, bam, we go up, we walk in, we have balloons, we have flowers and a cake and boy, you know.

[KT]

And they surprised and shocked him and he. Anderson's a rather shy guy. Shy guy.

[Susie Orman]

He's a shy guy.

[KT]

He's very shy and very private.

[Susie Orman]

All the years that we would sit in the makeup room before we went on, I did the Anderson show a lot back in 2007 and 2008 and nine, and we had the same makeup room. It was one big makeup room. Never said a word. Not a word ever. It was like, okay, this is very serious time. But he's so great. I love.

[KT]

Yeah, he was always quiet before he went on.

[Susie Orman]

Unlike us, huh, kt?

[KT]

We would be chatting and say, nice tie, Anderson.

[Susie Orman]

No response. Anyway, all right, so until Sunday, when I have no idea what I'm going to do for Susie's school, there's really only one thing that we want you to remember when it comes to your money. What is it, Ms. Travis?

[KT]

People first, then money, then things.

[Susie Orman]

Now you stay safe and happy. All right? Bye bye, everybody.

[Unknown]

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

[Susie Orman]

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.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.

[Unknown]

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.