← Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Buying or Leasing a Car? Suze’s Answer May Surprise You!
00:28:50
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- [00:00]
A
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. April 30, 2026 welcome to the Women and Money podcast.
- [00:45]
B
And everyone's smart enough to listen. This is KT in the house.
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A
Kt, they know who you are. Do you like our new email address? Everybody has. Tell everybody.
- [00:58]
B
Okay, if you want to send a question that KT will select for this podcast, maybe select you need to send it to podcastsksusie.com and that is a s k s u z e dot com.
- [01:17]
A
Yeah, and that's as you know, everybody, to make it harder for you to think you're talking to me when it's really not me. Anyway, this is the Ask KT and Susie anything. And this is where you write in a question to the address KT just gave you. And if she chooses it, oh, we will answer it on this podcast. Are you getting excited, kt?
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B
Yes.
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A
Tell them why.
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B
Tell them why.
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A
You tell them why. This is your baby.
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B
We are leaving in a few days and we're going to Japan. This has been a trip I've been wanting to take Susie on for 25 years. Her first time in the beautiful, beautiful islands of Japan, probably one of my very favorite places in the world, cannot wait.
- [02:03]
A
But KT tell everybody what's going to happen when we're in Japan.
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B
We're finally meeting Keith and Noriko face to face.
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A
You know, I talk.
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B
We've been waiting two years. You've been talking to Fitzy, right?
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A
I talk to Fitzy every single day. We FaceTime once or twice a day every day. And undoubtedly Sometime during that FaceTime, KT enters the picture, so does Noriko, and the four of us start talking.
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B
We're like best friends that have never
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A
met, so we're going to see each other. However, let me just say this, kt, because we're not going to be here for a number of podcast drop days. We're going to try to pre record some for you so that Robert doesn't have to play a Best of. Let's see how well we do with that. Kt, what do got for me?
- [02:57]
B
Okay, my first question, Susie, is actually. Yeah, this is from April. I was going to say it's not A question. It's a thank you. She said, first, I want to thank you for the trust information because we got my husband's parents to put their house in a trust. Thankfully didn't have to go into probate when they passed. Thank you tons. Susie.
- [03:20]
A
Must have docs dot com. Everybody get it?
- [03:23]
B
Musthavedocs.com okay, but listen to what April said. She said, but afterwards, I was advised by an attorney that we can do a transfer on death on the house that would be fine and cost less. We only have one daughter that it would go to, so why would this not be a good idea? Thanks tons again. This is from April. What do you want to tell her?
- [03:48]
A
You know, it's funny, kt, because I read that email and I sent April back an email saying, oh, you listen to this on the podcast. We will. I'm going to ask KT and put it in her little pile to read. So I snuck that in your little pile. So here's the thing. That is the stupidest advice I've ever heard in my life. I think you're going to say that, right? A transfer. I mean, really, how many times do I have to tell this to all of you? All right, so you have a daughter and you're going to transfer it to her on your death, and here we are. Fine, that's great. You die, it goes to her. No probate. I don't have a problem with that. But what if you don't die? What if you become sick? What if the two of you own that house and join tenancy with right of survivorship?
- [04:37]
B
Kt.
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A
And they need to both make money because they still have a mortgage on it or whatever. One of them is in a car accident, becomes incapacitated. They need to. To sell the house. Can they? No.
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B
No.
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A
Because it takes both of your signatures to sign when you sell something. And joint tenancy with right of survivorship. Transfer on death doesn't do you any good whatsoever. It doesn't even help your daughter if one of you has died, okay? Now the other one is there. They have a stroke. They have whatever. And she needs to take care of you. She needs to pay your bills for you, write your checks or whatever it is that people do anymore. Can she? No, because a transfer on death doesn't help. Is that attorney crazy? Listen, I don't have to be an attorney to know I can educate you on doing the right thing. So you want, in my opinion, a living, revocable trust that has an incapacity clause like the one that you most Likely have if you got it through the must have docs. Okay, something happens to either one of you, you can both sign for each other. Do you get what I'm saying? KT's playing this thing like calm down, calm down, calm it down.
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B
But KT tell her what she needs to do.
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A
Yes, you need a living revocable trust with an incapacity clause in it just like you have. Just that simple.
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B
All right, Katie, you know, wait, I just. One more comment. The lawyer that's advising her said to April it could cost you less. The must have documents where you get 4 must have documents are under a hundred dollars. Don't tell me that the lawyer's fee
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A
to do that or whatever to do
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B
that for her is going to be less anyway.
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A
But he's right or she's right on some level that Most trusts are 2,500, 3,005. So they he may or she may have been thinking that way. But regardless, you still did the right thing. All right, Katie.
- [06:51]
B
Okay, my next question is the big question many of you have buying versus leasing. So this is, this is from Nancy.
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A
She said, Susie, you know how I know that? Our next door neighbor who parks next to us downstairs leases because every three years he gets a brand new car. But Katie, our car that sits next to his car is like 15 years old. Really? Anyway, go on.
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B
Okay, so Susie, Nancy said, I've always bought my cars. Last one I had for 13 years.
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A
That's my girl, Nancy. That's my girl.
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B
So this is interesting. She said this time around I'm questioning the best route to take. I can afford to buy outright, but I'm 66 and single and starting to hate driving. So I'm wanting the self drive add on. This is interesting. I'm afraid of those cars. But she said I want this self drive add on which I've tested and love. That being said, with technological advances I will probably go into the next big advances as they come knowing this is an idiotic financial way to go into the car buying. Which would you recommend, Susie, for me? Lease or buy?
- [08:11]
A
What do you think?
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B
I would say I think that you're going to tell her to lease it and to do the auto drive.
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A
After all these years of me telling people they should never lease, they should only buy. You think right now I'm going to
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B
tell her that I think that she wants to drive. She doesn't like to drive anymore. She wants an auto drive.
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A
Right. So with I think you're going to
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B
tell her to lease it.
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A
I want you to Know, Nancy, you are the very first person I know.
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B
Ding, ding, ding. KT's right.
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A
It's not about KT being right, KT. This is not about you. Right. This is about. You are the first person in my entire career of at least 40 years that I have said in your particular situation, you should lease. Because I have a feeling that you're not driving over 12,000 miles a year. And you don't have to worry about it. So just make sure that you get lease gap insurance, all right? Katie. Did I just shock you?
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B
You did, but it didn't shock me because she. She doesn't want to drive anymore and she needs a car. That's the auto drive. I'm afraid of those still.
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A
All right. So I won't even tell anybody. All right, Go on.
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B
All right. So this is from Gia. This is sad. Susie. She said hello. Susie. My dad recently died and my mom is living alone now. I am 45 years old, single, no kids, and diligent about saving for retirement. I don't have any debt. I have 300,000 in retirement and stocks. She's only 45, Gia. So, Susie, she said, should I quit my great job and move back to be with my mom in her time of need? Everyone suggests that I should just visit her more, but that really isn't much time together. I'm in the healthcare business. There are other jobs. But I would lose my seniority as well as the team support that I now have at work. Thank you. Sincerely, from aching heart.
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A
What would you tell her, kt?
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B
Personally, I wouldn't, Gia. I do the opposite. I would invite my mom to come live with me. Have your mom come and live with you.
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A
All right. So that's what KT would say.
- [10:32]
B
What would you say, kt?
- [10:34]
A
I would. I have to tell you. I wouldn't do that. I wouldn't invite Mama to come live with me and Gia. I would not go and live with Mama. Believe it or not, Mama has to get used to the fact that she's now living by herself. She has to deal with her pain. She can't have it buffered. She has to, because here's what happens. And I've been through this with so many clients when I was seeing clients, I can't tell you. Daughter leaves their job, believe it or not, just like you want to. Gia moves in with Mommy. Mommy now is very used to daughter. Then all of a sudden, daughter has to go back to work. Daughter has a life she has to live. And Mommy gets depressed again and goes back two or three Months. So Mommy needs time. My mother needed time. She just needs time. So what I really would suggest for you, Gia, is ask where you work because you have seniority. You have a sabbatical of just one month. Just a month or one week every month for the next three or four months, where you go back and visit mama for short periods of time. And every time you go, make them shorter and shorter. But I would not be leaving. What is your security, your seniority? Thinking that you're helping Mama? Because what's my saying? Sometimes helping is hurting, and sometimes hurting is helping. And again, I just want to say I've learned from experience that the best thing to do is to do what I just said. All right, kt.
- [12:22]
B
I like that. Well, that's good. But I thought it was sad. She wrote aching heart. Of course, Gia is maybe more missing, you know, her daddy than listen. She thinks her mama will.
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A
It's very, very difficult, Susie.
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B
It's just adjusting to life.
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A
And, kt, the truth is, most of us, you, me, your sister, we've all had to adjust to life. Next question, Katie.
- [12:47]
B
Okay, this is from Gail. She said, hello. I just listened to Susie's webinar through Hay House. While I don't have much time to listen to podcasts, I would like to ask a question. This is a very. Gail is a very matter of fact woman. She said, my husband passed away in September 23rd. I am financially comfortable. We were very conservative with our money, and I have quite a bit of it. I also have his pension and my Social Security, but I'm now sending half of my income into federal and state taxes four times a year. However, I'm not sure how many ways I can reduce my tax bracket. My financial advisor suggested donating. Donating my money, but having done that in the past, they just want to keep contacting me, wanting more and more. And then listen to this. Gail literally said, Susie. She said, I like hoarding money.
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A
Me, too.
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B
It's okay.
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A
I really do, don't I?
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B
You like collecting it. I don't think you hoard it. You like collecting? I do. She likes collect. It's like a game for her.
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A
I like counting it.
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B
So then she's asking, Susie, is there anything I can do to risk my tax bracket other than just give it away? Please let me know. I live in California. That's what her question is. All right, so first we'll tell her your thought on taxes.
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A
Do you know my thought on taxes?
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B
Yeah, we pay them. You pay your taxes, and that's it.
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A
And that's it, Gail, Listen, I don't think the math that you're telling me is correct. You don't pay half of your income, your current income, to taxes if it's estimated taxes, because that would put you in the 50% bracket of what you're actually making of your income. And that's not how it works. You have the ability to pay either like 100 or 110% of last year's taxes or 90% of what this year's taxes are going to be spread over for estimated payments. But I don't think it's 50% of your income, number one, maybe you want to get a new financial advisor or cpa. But next, when you give money away, you are giving 100% of the amount that you are giving away to maybe save you some tax money. Why are you going to like that any more? You've given more than you're going to save. So given that you said that you like to hoard money, that is not the way to hoard money. So here's the bottom line. What am I going to tell you to make sure that you're paying estimated tax payments that you should be paying, and they should not be 50% of your income, number one. Number two, I would not be giving money away when your goal is to hoard money. Just that simple. All right, kt, you know, it's true. Everybody thinks, oh, I'll make this charitable donation and I'll do this and I'll do that, and look how much it saves me on taxes. Really. Anyway, go on.
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B
Okay, this is from.
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A
You know, wait, I have to say something. I have to say two things here. You give to a charity not to save on taxes. Really, that's just a byproduct.
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B
I want to help them.
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A
That's a byproduct of giving. You give because you want to help. That is your number one. People first, then money, then things. Also, I just want to say, because she mentioned the webinar, the new one will be coming out, part two. And believe me, it's going to be very, very different than the first one that you saw. It's going to be Fitzy and me. It may be us for the whole thing. It's going to be hardcore financial information that you need to know what to buy, when to buy it, ETFs, everything. So do not judge that the second one is going to be like the first one. And if any of you are thinking about buying the must have documents, or maybe even you bought them during the very first webinar make sure you tune in to the second webinar because I have a little gift for all of you.
- [17:25]
B
Oh, don't tell them. Don't give it away.
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A
All right, go on. All right.
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B
Okay, so my.
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A
I'm not giving you the whole. Must have documents, just so you know. Also, if you haven't registered yet for the part two webinar, go to Susie orman.com and do so. All right, Go on.
- [17:42]
B
All right, next question is from Andrea. She said, hi, Susie. I have revolving debt at $33,000. Most of this is from legal fees from my divorce. I also have $87,000 in a 401k and I have two loans against it. More legal fees. I would like to do a hardship withdrawal so I can pay off the high interest debt. I've read that 401k shouldn't be touched. But I've also read that when you have this type of high interest debt, you should focus on getting rid of that before worrying about saving. I'm 50. I don't plan on retiring until 65. Susie, please advise me. Why are you looking at me like that? What?
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A
I don't even know what to say and I'll tell you. I don't know what to say. I don't know.
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B
She's looking at me with this incredible. Want me to say something?
- [18:42]
A
No, no. Let me just answer this. Listen, sweetheart, you've already gone through one catastrophic event known as a divorce that has got you into serious debt, okay? But it was debt for a good cause because most likely it gave you your life back, it gave you your freedom back. And in the long run, it will absolutely give you your joy back with $87,000 in your 401k. Do not, and I repeat, do not do a hardship withdrawal. Do not do another loan. Don't do it. Don't do it. Don't do it. It's a mistake. Leave it there. Just leave it there. And never forget that money that's in a 401k is protected against bankruptcy. Same thing with IRAs. So don't do it. If you have all this high interest debt, then what you should do is go to nfcc.org and do a debt management program with them and only them where you pay it over time. Just that simple. If in fact you still have a good credit score, FICO score, then call these companies and ask them to lower your interest rate so you're not stuck at high interest rate debt. If you qualify for a balance transfer card at 0%, do that. But do not do not do anything with your 401kkt.
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B
Wait, one more time. Tell her where to go. One more time.
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A
N FCC.org go okay, my next question is from Brooke.
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B
I love this.
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A
I'll tell you what, let me tell you why I looked at you like that way.
- [20:31]
B
Yes, she looked at me with a look like kt.
- [20:35]
A
Well, where is she listening? Who is she listening to? This is my biggest problem today. You know, years ago really myself and a few of us were the only ones that you could listen to. Now you have all these people on TikTok on Instagram telling you do this, do that. I'm just like, please be careful out there. Please be careful. Make sure if you are taking financial advice it is from somebody that you know knows.
- [21:07]
B
No, no, no. Everybody just take financial advice from Susie or Orman. You don't need to shop. End of story. My next question, other great ones. My next question. My next question is from Brooke and, and the reason I selected this in the subject she wrote young investors and bitcoin. And I love this. Hi Susie and KT. I'm 30. Should 10% of my portfolio be in bitcoin? Makes me nervous. And I hear a lot of opinions on this. But Susie, I only care yours. And then she writes the other 90% is in S and P. Thank you Brooke.
- [21:51]
A
So Brooke, here's the thing. You would never do anything that you're scared of. If you listen to the webinar that I gave just a little bit ago and parts of it will be repeated by the way. Not all of it, but parts. On YouTube.com susiorman you would hear me tell you fear is the main internal obstacle to wealth. And if there was anything that is speculative and goes up and down and up and down like it's down almost by 50% from what it was just a little bit ago.
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B
Really.
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A
And when something goes down 50% it has to go up 100% for you just to break even. So if it makes you nervous, no, I wouldn't do it. Especially 10%. That is a lot of money depending on how much you really have. But if you don't have at least at the age of 30, a 12 month emergency fund, if you aren't totally out of debt, if you are not fully funding your Roth retirement account at work, your Roth ira, you don't owe any money on your car, you have everything the way that it should be. If you want to buy a home, you have at least 20% as a down payment to buy a home and everything else. I have Told you about that. No, I would not be putting money into Bitcoin.
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B
Okay, this is pretty good, Susie. This is from Mary and it said, Dear Susie and KT, my 16 year old daughter is learning about investing at school and researching stock she wants to invest in. Obviously it's a simulation, so she said. We talked about which stock she was considering and why. I asked her if she would ever invest in a company that did things that did not align with her values, even if that stock had huge potential for financial gain. She said no, but reconsidered. When I asked if she could earn money from a company that might be doing questionable things but would exist with or without her investment so then she could reinvest that earning in a company she felt would do good in the world. So interesting question here, Susie. What would you say to a teen who wants to do the right thing with her money?
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A
I already know what you would tell her.
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B
Tell her, do the right thing.
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A
Yeah. Listen everybody. Money is very, very personal. And the time for your daughter to make mistakes with money, hopefully more than she has successes with money, believe it or not, is when she's 16. Because the biggest mistake happens when somebody who's young starts to invest. It goes up very quickly. It goes up even quicker. They don't think it ever goes down and then they take all of it and they put it in something and they lose things that normally are the right thing. And she's talking about social investing, so to speak. Don't usually move as quickly as things that are a little speculative and that people can say that's not ethical. Don't do that, don't do this. The most important thing I would want your daughter to do is to look at what she's investing in, why she's investing in it, and to feel really, really good about the fact that she invested in it. That is more important than that. That stock makes money because what if she invests in something that she doesn't believe in and it doesn't go up, it goes down. Now you've done damage on both hands because why? The money she had has gone down and now she has less money to give to another company that she would think would be good. I would say really stay out of it. Stay out of it. I'm very serious. Let her make the decisions, Katie, right now, on her own. And as long as she feels good about it. Again, the goal of money is for you to be secure. Never invest in any stock that makes you feel insecure where you disagree with it and you're against it. Don't do it because why? You will sell at the wrong time, buy at the wrong time. It will never work. Have another one for me.
- [26:11]
B
Katie. I have one last question from Terri. Terry said, Susie, can you please share the how to video on the enrollment for the Ultimate Scam Protection? I experienced a scam four years ago by a person impersonating a help desk assistant. And Susie, you are right. I could not recover from the $350,000 that I lost. I remember you're posting in the Women and Money podcast, but I can't find it. Terri. So this is really important. Everyone listen up.
- [26:49]
A
Yeah. So Terri, if you go to susie orman.com, you'll see right there. And you better register for the seminar while you're there. Part two. So you'll see the Ultimate Scam Protection. Just, you know, move those little things that are around. Depending if you're on a phone or on a compute and scroll down and you will towards the end, you will see the video that you need. Very shortly, Nord Protect is going to put it right in the application. So after you have purchased and you have registered, it will be right there to help take you through it. Just that simple, everybody. I just want to say you should all look at that Ultimate Scam Protection every day. Every day on the Internet, on everywhere. You think you're buying something from somebody, it's not even that person. Imposter scams where you think you're dealing with somebody legit. You are not. Maybe next week, kt, you'll read that one story that somebody wrote in.
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B
Oh, yeah, people are sending me stories and I have one that is unbelievable.
- [27:58]
A
Tragic, everybody. Tragic. The Ultimate Scam Protection program offers you up to $100,000 of online scam protection. It also gives you $1 million to help restore your identity, whatever it may be. Can you just check it out? You need scam protection more than anything today. And I wouldn't be saying that to you if I didn't believe it from the bottom of my heart.
- [28:26]
B
All right, kt, that is a wrap. Suzy.
- [28:30]
A
All right. Now obviously Sunday will be Susie's school. We'll still be here in the United States.
- [28:38]
B
And on Sunday, I'm going to come on and say sayonara.
- [28:42]
A
You are are. You are right. So until then, everybody, there's only one thing that we want you to remember. And it is what, Ms. Travis?
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B
People first, then money, then things. And you stay safe.
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C
We are strong. We are wise. We will not apologize. We are here. We will thrive together. We will rise. We're the Roman of faith and everything it takes. We are strong, we are wise. Together we will rise.
- [29:22]
A
I know and you know that there are many of you out there and that have home equity lines of credit, but do you have one with a 3.99% fixed interest rate for six months and then prime plus zero? I doubt it. So I want you to go to myalliant.com and check out what I think is the best HELOC on the market today.
- [29:45]
D
Neither Suze 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 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 mentioned in these podcasts are legal documents created by a lawyer and distributed by Hay House.