Podcast Summary: Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

Episode Title: Is It Better To Own Actual Gold In My IRA Or In An ETF?
Date: January 29, 2026
Host: Suze Orman
Guest/Co-Host: KT

Episode Overview

In this lively "Ask KT and Suze Anything" episode, Suze Orman tackles listener questions that center around IRAs, Roth strategies, gold investing in retirement accounts, and estate planning. KT assists by reading listener queries and sparking on-air banter. The central theme is demystifying complex investment choices—particularly regarding including gold in retirement accounts (physical vs. ETFs)—while providing actionable, Suze-style advice for unique financial situations. Notably, Suze underscores her practical approach with candid, often humorous commentary, aiming to empower listeners to make smarter, long-term choices.

Key Discussion Points & Insights

1. Correction on Thrift Savings Plan Withdrawals

(02:40-06:03)

• Listener Julie corrects Suze’s previous advice. In TSP accounts, withdrawals are pro-rata—funds come proportionally from each investment (e.g., if you have 50% in a C fund and 50% in G fund, withdrawals will draw equally from both).
• Suze's Fix: To avoid being forced to sell stocks in a downturn, "all of you need an outside retirement account… with at least three months of living expenses above your guaranteed income within that account."
  [05:35 Suze]: “That’s one way you could protect yourself and not have to take equal amounts out of your TSP.”

2. Backdoor Roth IRA Strategies Clarified

(06:05-09:28)

• Listener Allie asks about order/timing for rolling over a traditional IRA into a 401k to enable backdoor Roth IRA contributions.
• Key Points:
  • To avoid pro-rata rule issues, roll all traditional IRA funds into a 401k before contributing and converting to a Roth.
  • "All the money in the traditional IRA is out by the end of this year, December 31st, just so you know."
  • "Do it all at once and then do the backdoor Roth."
    [08:27 Suze]: “When you convert it to a backdoor Roth, a conversion is deemed to have happened in the year you convert it.”

3. Traditional vs. Roth 457(b): Don’t Miss Tax-Free Compounding

(09:29-11:21)

• Listener Nicole: Unsure whether she should have chosen the Roth or traditional 457(b).
• Suze's Direct Response: Because Nicole’s salary is modest, the tax savings now are minimal, so a Roth 457(b) is vastly better for long-term compounding.
  • "Are you crazy? So, no, you are to do a Roth457 and you are to never, ever take advice from this person again."
    [10:45 Suze]
• Memorable Moment: Suze’s passionate plea and comic frustration over poor advice given by others.

4. Gold in IRAs: Physical Gold vs. ETFs

(11:21-16:31)

• Listener Maria asks if she can open a Gold Roth IRA, referencing her massage therapist’s success with a gold traditional IRA.
• Suze’s Stance:
  • Physical gold can’t be held directly in IRAs at mainstream firms (like Fidelity, Schwab); specialized custodians are required, and it’s complicated and risky.
  • If you want gold exposure in a Roth, buy a gold ETF (like GLD).
    [12:22 Suze]: “If you want to participate in gold within a Roth IRA, I think the best way for you to do it at this point is by buying an exchange-traded fund by the symbol GLD.”

Follow-up: Barrick Gold Stock in a Roth

Listener Jana: Husband bought Barrick Gold shares in his Roth; she feared Barrick “went belly up” after noticing the symbol change.

• Suze clarifies: Barrick changed its symbol; the investment actually tripled and the dividend increased.

  • "Your 500 shares did not go belly up, my love. They are now worth about $25,500."
  • “...you should have bought a thousand shares.”
    [15:46 Suze, with warmth and humor]

• Suze’s Shift: Has moved preference from mining stocks to direct gold exposure via ETFs now that gold prices have surged significantly.

  • "That's why I kind of switched to GLD, the ETF."
    [16:28 Suze]

5. SEP IRA to Roth Conversion Nuances

(16:56-19:09)

• Listener Lauren: Wants to convert SEP IRA to a SEP Roth IRA, asks if market downturn is a good time.
• Suze:
  • Technically possible, but major firms don’t offer SEP Roth IRAs yet.
  • Instead, simply convert SEP IRA to a regular Roth IRA and pay the taxes.
  • If investments are down, now is an opportune time to convert, as taxes owed will be lower on the decreased balance.
  • Explains “tax loss harvesting” doesn’t apply inside retirement accounts. [17:37 Suze]: “You’re not going to be able to do any tax loss harvesting… the money that you have in a retirement account is [not] subject to capital gains or whatever when you sell within there or losses.”

6. Estate Planning: Inheriting Property in California

(19:09-23:44)

• Listener Amber: Wants to inherit her father’s home in California with minimal tax impact.
• Suze’s Guidance:
  • Make sure the house is in a living revocable trust to avoid probate.
  • Take advantage of Prop 19: If Amber moves in as her primary residence within a year, she can retain the current low property tax base.
  • Amber should ensure the attorney documents clear instructions for Prop 19 compliance and the homeowner’s exemption, protecting the property tax advantage. [22:18 Suze]: “Can you structure the trust so I inherit the home at dad's death as my primary residency and give me written instructions for moving within one year, filing the Prop 19 Parent Child Exclusion and the homeowner's exemption on time with our county.”

7. Annulment and Social Security Rights

(24:07-27:35)

• Listener Ann: After 20 years of marriage, her marriage ended in an annulment—does she get Social Security on her ex?
• Suze's Answer:
  • Annulment generally means the marriage never existed in the eyes of the law; thus, ex-spouse benefits are usually forfeited.
  • Suze questions whether the annulment is legally valid and suggests Ann consult an expert to review her situation.
  • Suggests ex-husband may have insisted on annulment to avoid perceived obligations. [25:37 Suze]: "If you were married legally at least 10 years or got divorced because it was annulled... you will not, in most cases, qualify for any of his Social Security."
  • Encourages Ann to "get on my warrior outfit and... get that annulment declared invalid and get a divorce," if possible—delivered with her trademark empathy and spark.

Notable Quotes & Memorable Moments

• On taking listener criticism:
  [04:19 Suze]: “I love when that happens because there’s no way everybody that I could keep up on every single thing that’s happening in the world when it comes to money.”

• Humor in Communication Styles:
  [06:29 Suze]: “KT feels the exact same way.” (On confusion over Roth IRAs.)

• On following the right financial advice:
  [10:45 Suze]: “So, no, you are to do a Roth457 and you are to never, ever take advice from this person again.”

• Missed opportunity with Barrick Gold:
  [15:53 Suze]: “You should have bought a thousand shares.” *[15:57 KT]: “Should have listened to him.”

• Property tax wisdom for California inheritors:
  [22:18 Suze]: “You do not want to lose that [property tax basis] on any level... I’m telling you, it’s worth it, right? It is so worth it, it’s not even funny.”

• On Social Security after annulment:
  [27:01 Suze]: “It doesn’t come from him. It comes from Social Security.” [27:17 Suze]: “If you can, get that annulment declared invalid and get a divorce from him if you can. Sad, KT.”

Timestamps for Key Segments

| Segment | Timestamp | |-------------------------------------------------|-------------| | Correction on TSP Withdrawals | 02:40-06:03 | | Backdoor Roth IRA Strategies | 06:05-09:28 | | Traditional vs. Roth 457(b) | 09:29-11:21 | | Physical vs. ETF Gold in IRAs | 11:21-13:07 | | Barrick Gold in Roth / Stock Symbol Change | 13:07-16:31 | | SEP IRA to Roth: Market Timing & Mechanics | 16:56-19:09 | | Inheriting Property – Prop 19 & CA Estate Rules | 19:09-23:44 | | Annulment & Social Security Rights | 24:07-27:35 |

Tone & Final Thoughts

The episode is rich with Suze’s signature blend of warmth, candor, and practical wisdom. She deftly explains complex financial tools in relatable language, always anchoring advice to the listener's best long-term interests. KT’s conversational banter adds levity and connection, especially when she teases Suze about never watching her own TV shows.

Listeners seeking clear, actionable answers—especially regarding gold in IRAs, backdoor Roth mechanics, or inherited CA property—will leave empowered and informed. As always, Suze wraps with her mantra for priorities:

“It is people first, then money, then things. And you stay safe and warm across this country.”
[28:27 Suze & KT]