Get More Pleasure From Saving, Than From Spending

Summary

Podcast Summary: Suze Orman's Women & Money – "Get More Pleasure From Saving, Than From Spending"

Date: November 13, 2025
Duration: ~31 minutes
Episode Theme:
This episode centers around a transformative mindset shift—finding more pleasure in saving money than in spending it. Through listener questions and emailed success stories, Suze Orman and KT explore not only the technical aspects of personal finance (like annuities, HSAs, IRAs, and stock options) but also the emotional journey toward true financial security and empowerment.

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Main Theme & Purpose

Suze Orman champions the philosophy that financial well-being stems from valuing security and saving over material consumption. The episode features real-life listener stories illustrating how this mindset fosters not only fiscal resilience but also personal health and happiness. Suze and KT then tackle a variety of specific, practical finance questions, providing actionable advice with their signature blend of straight talk and warmth.

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Key Discussion Points & Insights

1. Celebrating Success: Gina’s Story

[01:43–04:14]

• KT reads an email from Gina, a listener who followed Suze Orman’s advice for 25 years.

• Gina’s achievements:

  • Paid off credit card debt (multiple times)
  • Survived a costly divorce
  • Paid off her house at 53 (now worth almost $1 million)
  • Paid cash for a car and kept it for 9 years ("But I would like all of you to keep your cars for at least 10." – Suze Orman, [03:04])
  • Opened a Roth and saved $200k
  • Accrued $1.8 million in her work 401(k) Roth
  • Saved $250,000 in liquid funds (emergency fund)
  • Retired from a disliked job at 56 with a pension
  • Can now afford a personal trainer, lost 35 lbs, and improved her health

• Core lesson: Gina gained more pleasure from saving than from spending.

• Suze: "When you feel less than everybody, you spend more than you want to be more, to have more, to feel like Gina and have security—because that is the goal of money." ([04:37])

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2. Listener Q&A: Practical Financial Dilemmas

a) Understanding Annuities

[05:09–07:53]
Marietta’s Question: Is it possible to lock in a bonus interest rate on an annuity for the whole surrender period?

• Suze’s Response:
  • Generally, "I find it very difficult to find a situation where an annuity… makes sense."
  • Only consider annuities with a fixed interest rate matching the surrender period.
  • Be wary of "bonus rates" that drop after the first year; "My best advice… stay away from annuities." ([06:36])
  • For anyone getting an annuity, ensure no variable rates during the surrender period.

b) Adult Children & Aging Parents’ Finances

[07:53–12:54]
Kim’s Question: Parents (80s) bought a $200k deferred annuity with little transparency; how can their adult children become more involved?

• Suze’s Response:
  • Reminds listeners: Adult children should stop acting like kids with their parents.
  • Advocates for conducting a compassionate, but direct, family meeting.
  • "This is about your children being able to take care of you as you age. And the two of you are putting yourself in danger." ([11:04])
  • Urges transparency, family collaboration, and careful vetting of financial advisors.
  • Particularly cautions: Annuities generally are not suited for elderly clients.

c) Callable CDs

[12:54–14:45]
Emily’s Question: Why was my CD (certificate of deposit) "called" before maturity?

• Suze’s Response:
  • Explained callable CDs: Financial institutions can end higher-yield CDs early if interest rates drop.
  • "Never, ever, ever get a callable CD." ([14:01])
  • These tend to benefit the bank, not the consumer.
  • Recommends Alliant Credit Union, which does not issue callable CDs.

d) Taking Control of IRAs

[15:14–17:39]
Sylvia’s Question: Wants to manage her own investments at Schwab.

• Suze’s Response:
  • Empower yourself: "You pick up the phone, gather your courage, and say you no longer want the traditional IRA under an investment advisor." ([15:59])
  • Opportunity: Consider converting traditional IRA funds that are "down" to Roth IRAs, possibly before year end.
  • Encouragement to ask more questions—fear is the only barrier.

e) Moving Past Financial Regrets

[18:21–19:23]
Cecilia’s Regret: Passed on exercising stock options before a company acquisition due to risk.

• Suze’s Response:
  • “Look at what you have, not what you had or could have had.” ([19:23])
  • Don’t dwell on missed opportunities—focus on current financial health and avoid unnecessary stress.
  • Suggested researching "cashless" exercise options if faced with a similar situation.

f) 401(k) Rollovers & Roth IRAs

[21:58–22:40]
Susan’s Question: Leaving Walmart, what to do with her 401(k)?

• Suze’s Response:
  • Options: Rollover to a new employer’s 401(k), move to a traditional IRA, or leave at Walmart.
  • Rollovers to Roth: "If you roll it all over to a Roth IRA, then all $45,000 is going to be taxable… that year as ordinary income." ([22:40])
  • Suggests IRA rollover to Fidelity with gradual Roth conversions.

g) HSAs & Medicare

[23:38–24:59]
Listener Question: Does HSA (Health Savings Account) money get forfeited upon starting Medicare?

• KT’s Response: You do not lose it.
• Suze’s Additions:
  • You can use HSA funds to pay Medicare premiums (Parts B, C, D) and long-term care premiums.
  • Cannot use HSA for Medigap (Medicare Supplement) policies.

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3. Roth Conversions and the "Five-Year Rule" (Quizzy Time)

[25:15–29:18]

Darlene’s Quiz: If I convert to a Roth IRA at 67, can I withdraw funds before the five-year rule, and will I owe taxes/penalty?

• KT’s Guess: You might owe a penalty but not more income tax.
• Suze’s Breakdown:
  • Over age 59.5: No 10% early withdrawal penalty.
  • If you withdraw converted principal, no added tax (as you’ve already paid tax at conversion).
  • If you withdraw earnings before account is open five years, you owe income tax on the earnings only.
  • Suze: "Once you are over the age of 59 and a half… you will no longer, ever, ever, ever pay a 10% penalty…" ([28:07])

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Notable Quotes & Memorable Moments

• On redefining pleasure in life and money:
  • "She gets more pleasure out of saving than she does spending." – Suze Orman ([04:37])
• On financial empowerment:
  • "It is your money. What happens to your money directly affects the quality of your life." ([17:39])
• On family and aging:
  • "You have got to go to them, sit them down… This is not about how much money you have and how much money you’re going to leave to us. This is about your children being able to take care of you as you age." ([11:04])
• On regrets:
  • "There is a law of money that I have, which is: look at what you have, not at what you had or could have had." ([19:23])
• On taking ownership:
  • "Do not be afraid to pick up the phone and talk to whoever is in charge of that money." ([17:39])

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Timestamps for Key Segments

• 01:43 – Gina’s Success Story: Finding joy in saving
• 05:09 – Annunities: When (or if ever) they’re the right choice
• 07:53 – Talking with aging parents about money
• 12:54 – Callable CDs explained
• 15:14 – Taking control of investment accounts
• 18:21 – Moving past financial regrets and missed “upside”
• 21:58 – 401(k) rollovers and Roth IRA decisions
• 23:38 – HSA accounts and Medicare
• 25:17 – Quizzy Time: Roth IRAs, conversions, and the five-year rule

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Episode Closing Wisdom

• Suze’s Signature Advice: "People first, then money, then things."
• Six Greatest Words in Life (as recited by KT, [30:26]): "I admit that I was wrong."
• Final encouragement: Stay safe, stay healthy—be unstoppable.

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Overall Tone

The episode balances heartfelt celebration of listeners’ real progress with Suze’s firm, practical advice. Suze and KT’s banter adds warmth and humor, making even complex financial guidance feel accessible and encouraging.

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For listeners, this episode is both a resource for specific money questions and an uplifting call to embrace the identity of a saver, prioritizing security and agency over comparison, regret, or short-lived pleasures of spending.

Transcript

[Suze Orman]

Hi everybody. Suzy O here. And it's open enrollment time at all corporations. So I hope you are checking all of your benefits so that you know you are up to date with what you need. But I have to tell all of you, there is one other benefit that I know all of you need and your corporations need to offer. And it comes from a company that I help co found over 5 years ago by the name of Secure Save. So whether you're an employee or an employer, I want you to go to securesave.com Suzie S U Z E and take a look at what I have for you there. I promise you, you're going to like it. All right now.

[Robert (Producer)]

November 13, 2020 25. Welcome to the Women in Money podcast as well as everyone smart enough to listen. Hi everybody. This is Robert, the producer here. You know how sometimes you need to take a day off of work to handle an important thing happening in your life? Everything's okay, but you know, when these things pop up, you have got to deal with them in the moment. And that is the case for today. Susie and KT are fine. They just need to handle a logistics thing. And you know, we still like you to be able to hear both KT and Susie on a Thursday. So we have some cool bits from an Ask KT and Susie anything previously released and we're going to jump right into the first question. Take it away, kt.

[KT]

Sometimes I like to start with sharing what people have achieved by just listening to Susie Orman's great advice. And this is from Gina and she said, after following your rules for over 25 years, I was able to. Now get ready, everybody. This is a list of 10 great things that Gina has done. Number one, get out of credit card debt for the third time. Survive a painful divorce. The reason it was painful, Susie, is because she paid her husband $100,000 almost 10 years ago because she made more than him. But she survived that okt.

[Suze Orman]

That's not why it was painful. When you are married and you get divorce, any divorce is painful because you originally entered that relationship in the hopes that it was going to be as great as ours. You're right, you're right, you're right. So that's what truly makes a divorce painful. Money isn't what makes a divorce painful, truthfully. But it still stings. All right, go on.

[KT]

100 grand. Big sting. So number three, she paid off her house at the age of 53 and now it's worth almost a million dollars. Girl for friend Susie, she paid cash for a car and she kept it for. What's your favorite number?

[Suze Orman]

Well, my favorite number is nine years. However, I would like all of you to keep your cars for at least 10. All right, go on.

[KT]

And then she opened a roth and saved 200,000. She accumulated 1.8 million in her work. 401 Roth. She has 250,000 in liquid savings, which I suppose could be her emergency fund. And then she said she retired from a job she hated at the age of 56 with a pension. And since that retirement, she can afford. Ready, everyone? Key word. I can afford to exercise with a personal trainer. I lost 35 pounds. I no longer have high cholesterol. I'm working on getting off my high blood pressure medication. And I did this all on my own, Susie, because you taught me how to enjoy saving more than spending.

[Suze Orman]

Yes.

[KT]

So, Susie, Gina's 56. Congratulations, Gina. I love everything she did and continues to do.

[Suze Orman]

The thing I love most about you doing this, kt, is that so many times people feel so hopeless. They feel like, no, they can't do this. They'll never get out of debt. They'll never be able to save. They'll never be able to recover from a divorce. All of these things. And you can and you will.

[KT]

Baby steps.

[Suze Orman]

But the main thing that Gina said in that email is she gets more pleasure out of saving than she does spending. When you feel less than everybody, you spend more than you want to be more, you want to have more, you want to feel like Gina and have security, because that is the goal of money. Then learn how to define yourself by how you feel and who you are and not the things around you. All right?

[KT]

Okay. So now my first question is from Marietta. She said, hello, Ms. Orman. Marietta is being very proper. I have just finished reading the transcript of your podcast, Susie School Understanding Annuities, which was on April 9, 2023. See, everyone? You can go back and find exactly what you need. Marietta goes on to say, I am new to investing and recently started looking into annuities. One thing puzzles me, though. I was reading the advice where you say that I should get an annuity with an interest rate guaranteed for the entire surrender period. I. I have noticed that some annuities offer a bonus rate for one year, then they drop off to a lower rate. How would I go about securing this higher bonus rate for the length, I guess, for the duration of the surrender period?

[Suze Orman]

First of all, Marietta, if you heard me say that I want you to get an annuity, I don't want you to get annuities. Actually, I find it very difficult to find a situation where an annuity in any place now makes sense. However, if you want to get an annuity for whatever reason, because all annuities have what's called a surrender period, where you cannot come out of that annuity without a penalty, usually 7% the first year, 6, 5, whatever it may be. So if you're going to, for whatever reason, get an annuity, get an annuity where the surrender period and the interest rate that they are offering you is for the exact same period of time. Now, companies may not do that anymore. It used to be called a CD annuity, so they sucker you in. However, in your example here in this email of offering you a bonus rate for the first year, then they drop you down all the other years during the surrender period to make up for that bonus rate that got you to go with them to begin with. My best advice I could give you is, since you're probably very new to investing, stay away from annuities. I doubt there's any reason that you really need one. That's number one. Number two, if for whatever reason you do get an annuity, only get an annuity, which is a fixed annuity where the interest rate is fixed for the entire length of the surrender period. If you can't find one like that, don't buy it at all. All right, next. Kt.

[KT]

So the next email is from Kim. Hi, Susie. I recently started listening to your podcast after discovering my parents, who are 80 and 81, bought a $200,000 deferred annuity upon recommendation from the financial advisor. My mom asked me what I knew about annuities, and I don't think she realized it was already purchased. Ready, Susie? My parents are extremely secretive about all of their finances. They have five children and I am the financial power of attorney, but they don't tell me anything. I've never met their financial advisor, who is the grandson of an old family attorney who passed a few years ago. They put all of their trust in him. So Kim's question is, on behalf of herself and siblings, what can we do to help my parents realize they need to trust their family to be involved in their finances.

[Suze Orman]

So, Kim, what's interesting is that no matter how old we get or our parents get, we tend to act like we're still kids. We tend to act that we cannot question their authority, that we have to do anything that they say. We act like we're 10 years old, 12 years old, 18 years old, when we really were kids. You now and all your siblings are mature adults. If your parents are in their 80s, then you are probably in your 50s, maybe even in your 60s. You are no longer kids. Therefore, you have to stop acting like one and just being around them and doing whatever they say. What I suggest to you and everybody listening to this, right now, your parents are in danger. They're in danger. Therefore you have got to go to them, sit them down, all of you at once, and say, let's play getting older. Mom, what would you do if dad dies? Because it's not an if, Mom. It's a when. Do you know where your money is going to come from? Do you know how much it costs you to live every single month? Do you know about the titles to all your accounts and retirement accounts? Mom, will you be okay? And mom, let's just say dad is gone, or dad, let's just say mom is gone or has become incapacitated. Who's going to write your checks for you? Who is going to pay your bills for you? Mom and dad. This is not about how much money you have and how much money you have going to leave to us. This is about your children being able to take care of you as you age. And the two of you are putting yourself in danger. Kim, ask your parents to listen to this podcast. Ask them to listen to Susie Orman saying to them, mom and dad, please don't do this to your kids. How many thousands of kids have come to me when their parents had gotten sick or had a stroke or had whatever it may be, and they can't pay the bills. They can't do anything for them. Everybody now is in danger. Please, mom and dad, stop acting so immature that you just don't want to deal with this. Because I know that you're afraid to deal with your death. I know that you are afraid to make decisions because it's hard to get old. I know that KT and I both experienced that. But you don't have a choice anymore. So I am not asking you, I am begging you to bring your five kids in who love you, especially Kim, who has power of attorney. Introduce Kim to your financial advisor and make sure that the decisions that you are making or this person is making for you are wise for you. Because on no level is it wise that you have a $200,000 annuity. On no level is it wise for you to have any annuities at all. And just because his grandfather was. Was your attorney doesn't mean that the grandson is just like his grandfather. Please, I am begging you. And all parents that are listening to this right now. Next question.

[KT]

KT so next is from Emily. Susie, Love, love, love, love your podcast.

[Suze Orman]

Me too. I love it too, Emily.

[KT]

And this is a really good question because I'm curious too, Susie, how did I miss that CDs can back? Was this ever discussed on your podcast? Yes, I have received a notice from Chase that my CD was being recalled and money to be cashed out at nine months instead of my 12 month expiration date. So Susie, Emily says, why didn't I know this?

[Suze Orman]

You didn't know it, Emily, because you don't listen to the podcast every Thursday and Sunday or anytime in between them. So just so you know, I have addressed this in the past and basically the reason a financial institution has what's called a callable CD is because when interest rates go down, they want to know that they don't have to continue paying you that high interest rate because they want to be able to recall it so that if you do get another cd, it's at a lower interest rates and that's how they make more money. Now, most financial institutions such as banks and even brokerage firms offer callable cds and sometimes to sucker you in, they offer a little tiny higher interest rate than a CD that is not callable and you fall for that trick. You should never, ever, ever get a callable cd. But they are plentiful out there. So you just have to ask the question before you buy a cd. Is this callable or not?

[KT]

Does Alliant do that?

[Suze Orman]

No, Alliant would not offer callable CDs because really they're for the advantage of the financial institution. There is no advantage really for a consumer to buy one. An Alliant credit union, in my opinion would never do any anything, anything that wasn't for the advantage of members.

[KT]

Check out Alliant. Emily.

[Suze Orman]

Yeah, go to myalliant.com all right.

[KT]

All right, Next is from Sylvia. Susie, I have a traditional IRA and a Roth IRA with Charles Schwab. The traditional's doing really bad, she said. I would like to choose investments myself following the advice of your podcast, but I don't know how to take control of my account. Help her. How does she do that?

[Suze Orman]

Sylvia, do you have control over your Roth ira? This has nothing to do with Charles Schwab. This has to do with who is making the decisions over your retirement accounts. So if your Roth IRA is doing well and your traditional IRA is not, I have a feeling that probably you just recently started a Roth IRA and there isn't a lot of money in there, but there's probably a whole lot more in your traditional ira. So how do you take that over? You just tell whoever is in charge of that account that you no longer want them to be so. So therefore, you pick up the phone, you gather your courage, and you say you no longer want the traditional IRA under an investment advantage advisor. However, I do just want to say if it's really doing bad, now might be the time to take some of the money that's in the traditional IRA and convert it to a Roth every single year. Now, I just also have to say this so it wouldn't kill you possibly I don't know enough about your circumstance, but to take small amounts of money at the end of this year in the things that are especially down and you're losing on, and convert them to your Roth and then do the same thing at the beginning of January next year. So that's what I would be doing if I were you. Kt, why do you think it's so hard for women to take power? Like, did. Did she really need to write me to say that? How does she do that?

[KT]

A lot of people, men and women, are afraid to ask questions or to question anything that has to do with finances. And don't ask me why. I don't know. I mean, for me, I love to ask questions about money and I have no fear. But most people do.

[Suze Orman]

So listen, here's the bottom line for all of you. It is your money. What happens to your money directly affects the quality of your life. How many times have I said this? Not your financial advisor's life, your insurance agent's life, your banker's life, your life. So if you don't like what's happening to your money, do not be afraid to pick up the phone and talk to whoever is in charge of that money. If you don't like what's happening to your money and you're the one who's in control of it, then maybe you do need to find somebody who could help you. All right, kt.

[KT]

Okay, next is from Cecilia. She said, susie, your podcast has been a true gift. Love that. She said. When I left my company, I had a 90 day window to exercise my vested stock options. Just before they expired, an acquisition was announced, but I had no guarantees about the deal closing or a written confirmation on the equity payout. The cost to exercise was $193,000 with a net gain of $122,000. I could have used my home equity line of credit to fund it, but I Decided against it to avoid potential financial stress on my family. So now she's regretting it. She said, I can't help but feel unlucky for not seizing that upside. So, Susie, how do I move past this and stop dwelling on what could, another, could have, should have, would have. Email.

[Suze Orman]

Yeah. So basically, Cecilia, there is a law of money that I have, which is look at what you have, not at what you had or you could have had. If you spend all of your life buying a stock, you then sell it because you made maybe some money on it or you lost money on it, and then it skyrockets, and if you had simply, simply held it, you would have made $100,000, $200,000. I did an entire podcast on if only. Try to find that podcast. If only I had done this and not that. If only I had exercised those options, I would be $122,000 richer. If only, if only now what you could have done. But you didn't even ask the questions to your HR person because you were coming from a place of fear. You wanted to make sure that you stayed secure. You didn't want to take equity out of your home, but you didn't ask the company questions such as, how can I do this if I don't have any money? There are many companies out there that have what's called a cashless transaction to help you exercise when you don't have the cash to do so. Did you even ask that question of your company? So for all of you again listening to this, and maybe you're in a situation like Cecilia is in or was in, and maybe you will be in, is, can you ask your company now that if they ever do something like that, use have stock options, do they offer something that's a cashless transaction? Can you do that? But, Cecilia, why waste time on what could have been versus what is? You didn't do it because you didn't want to cause any financial stress on your family, and now it's causing stress on you. No girlfriend, look at what you have, which should be a life of no stress. So therefore, just stop it. But again, listen to the podcast on if only.

[KT]

All right, KT, next question. This is from Susan. I am 45 years old and I've been with Walmart for nine years. We love Walmart. Wonder if she's been to Bentonville.

[Suze Orman]

We have, Susan.

[KT]

I've been to Bentonville. There's some great barbecue places there. So I'm leaving Walmart and I have $45,000 in the 401k and I have stocks with them. And the new job I'm going to has a 401k. Also, do I have to transfer my Walmart 401k to the new job or can I open a Roth IRA with Fidelity?

[Suze Orman]

So first of all, Susan, right, if you choose to roll over your 401k to your new company, that's fine, right? But the problem is, chances are they're not going to be able to take the Walmart stock that you have with in your 401k. I would suggest doing an IRA rollover to Fidelity with all of it. And then if you want, start to convert little by little to a Roth ira, because if you roll it all over to a Roth IRA, then all $45,000 is going to be taxable to you that year as ordinary income income. You also, by the way, have the ability to leave it right at Walmart, if that is what you would like to do. Next question, my dear kt.

[KT]

Okay, this question was on the wall.

[Suze Orman]

And it's to kt and it is the last one.

[KT]

It says kt. If you still have money in an HSA account when you start receiving Medicare, do you lose it? He said, I'm going to answer this for you for them. Is that all right, Susie? The answer is, wait, you did not win. You don't lose it. You just add to it. You don't lose it. There you go. I know a lot about HSAs.

[Suze Orman]

Ding, ding, ding. But you're still getting a crazy. All right, what's my girlfriend. Wait, wait, wait. I'm not there yet. Let me answer Ms. Speedy today. So it is true that you can use your HSA money for anything that you want. But did you also know that you can use your health savings account funds to pay for Medicare premiums? Everybody. That's great. Including those for part B, part D and Medicare Advantage plans, part C. Right. But you need to know kt, this should have been your quizzy. Can you use HSA funds to pay for Medicare supplements or Medigap policies since you know so much about these funds?

[KT]

Oh, I don't know that much.

[Suze Orman]

And the answer to that is no, you cannot.

[KT]

Sounds like a no.

[Suze Orman]

Right? So just remember that when you have money in an hsa, you can use it for so many things, including long term care premiums, everybody. All right, quizzy time. You need to get out of your quizzy a little manipulator.

[KT]

You.

[Robert (Producer)]

Right?

[KT]

What is it?

[Suze Orman]

Which is this from Darlene. And by now all of you know what quizzy time means. If Not. That means you have not been listening to the podcast and go back and listen to a lot of them anyway. All right. If I do a Roth conversion from a traditional IRA, even though I'm 67, would I have to pay income taxes on the withdrawal amount if I took it out before the five year rule, since I paid income taxes on it when I converted it to a Roth? Don't answer yet, Katie. What Darlene is asking is she has a Roth, but the Roth has not been open for at least five years. She has converted money to it. She is 67. If she converts and then takes the money out, let's say she leaves it in there for a year from now, it grows, but it's still under the five years, will she owe income tax on that money and will she owe a 10% penalty on that money?

[KT]

Both or either?

[Suze Orman]

I'm asking you both.

[KT]

Oh, well, I don't know. All I know is that if taxes are involved, usually you have to pay it.

[Suze Orman]

So she will have paid the taxes when she converted, huh?

[KT]

So why have to pay them again?

[Suze Orman]

You have to answer the questions. If she withdraws the money prior to when the five years are up and that money has grown, let's just say it's grown and she withdraws it prior to the time the five years are up, she's 67. Will she owe a 10% penalty? Will she owe income tax on that money?

[KT]

67.

[Suze Orman]

Yes.

[KT]

So I think she won't owe income tax, but she might have the penalty. I don't know. Is that a good. Is that a good answer?

[Suze Orman]

It's only good if it's good for you.

[KT]

Is it? Is it?

[Suze Orman]

I have to tell you whether you're right or wrong, do not try to get out of this. Yes or no. Is that your final.

[KT]

I don't think you pay taxes twice, but you definitely have a penalty. But she's 67. So. So I don't think she's penalty exempt either.

[Suze Orman]

All right. That's your answer.

[KT]

Yeah. Okay. I, I don't know. It was Roth, right? All right.

[Suze Orman]

Yeah. We should just know that any Roth question, it's going to be.

[KT]

You can bet on that. Everybody.

[Suze Orman]

It doesn't have to be, though. Kt. So, Darlene, here's what you have to get. Once you are over the age of 59 and a half, even though your Roth IRAs have not been open for at least five years, everybody. So this applies to everybody. You will no longer, ever, ever, ever pay a 10% penalty because you're already over the age of 59 and a half. However, what you have to remember is that when you convert money to a Roth IRA you pay 100% tax on the amount that you converted. But now the money's in that account and it is growing, so it is earning money. If you take out the earnings before the account has been open for five years, then you are going to pay tax on the earnings that you have never paid tax on yet. So that's just what you have to take into consideration. It's just that easy. Now did that make sense to you, Katie?

[KT]

Yeah, that made a lot of sense. Really?

[Suze Orman]

I just made sense to you?

[KT]

What made sense? I think my, the thing and I knew I couldn't remember.

[Suze Orman]

Oh, here she goes defending herself again.

[KT]

I knew that 67 was a good thing, but I didn't remember how it all worked.

[Suze Orman]

We get that because I went. Do you see everybody now? I just want you to.

[KT]

I'm not defending myself, I'm just trying.

[Suze Orman]

Well, what would you call that?

[KT]

Recall?

[Suze Orman]

Uh huh. Now can you just imagine what our relationship is really like? Do you think this just happens when we're talking about Roth IRAs? Or maybe do you think it could happen about other things? You think Katie? Never. Ding, ding, ding, ding, ding, ding, ding, ding, ding.

[KT]

Susie got that right. Ding ding, ding, ding, ding, ding, ding.

[Suze Orman]

All right. But I still love her and more importantly, I like her. Take us out, Katie.

[KT]

All right, these three things, what do they have to remember?

[Suze Orman]

People first, then money, then things. And when you're wrong, just admit it, it's not a big deal. What are the six greatest words in life?

[KT]

Kt, I admit that I was wrong.

[Suze Orman]

Ding ding ding. And if you do that, stay safe, healthy, you will be unstoppable.

[Chorus/Group]

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

[Suze 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 dot com and look into opening an ultimate opportunity savings account. Put in at least a hundred dollars a month every single month for 12 consecut. Earn 3.10% interest on your money right now and get $100 at the end. Are you kidding me? It's the best deal out there. Start saving right now.

[Robert (Producer)]

Neither Susie 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 Suze Orman accepts any responsibility for any losses which may arise from accessing or reliance on information in this podcast and to the fullest exposure 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.