What Are You Proud Of?

Summary

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

Episode: "What Are You Proud Of?"

Date: February 26, 2026
Hosts: Suze Orman and KT

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Overview

In this deeply engaging episode, Suze Orman and KT respond to listener stories and questions that explore the intersection of financial health, personal pride, and emotional fulfillment. Through real-life examples and listener emails, Suze emphasizes that true wealth comes not only from fiscal responsibility and smart investing, but especially from embracing one's identity, helping family, and taking pride in personal growth. The episode blends heartfelt moments with actionable financial advice, focusing on authenticity, relationships, and the importance of making intentional money decisions.

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Key Discussion Points & Insights

1. The Power of Pride & Authenticity (01:38–05:15)

• Listener Story: Sloan's Journey
  • Sloan recounts how Suze’s openness as a gay public figure helped him as a young man accept himself, while her financial advice led him and his husband to become multimillionaires.
  • Quote (Sloan, read by Katie, 03:40): "I fundamentally believe I would not be where I am today without your wisdom and inspiration."
  • Suze reflects on what makes her proudest—helping someone feel less alone or making someone wealthy.
  • Notable Quote (Suze, 05:11): “There are things in life that money will never, ever buy or replace. And one of them is feeling happy and proud and in love with who you are.”

2. Prenups, Family Wealth & Protective Planning (06:28–10:31)

• Listener Question: Chuck the Mailman
  • Chuck’s daughter is set to marry someone from a wealthy family; prenup is required by future in-laws.
  • Suze’s Advice:
    • Both parties need their own experienced prenup (matrimonial) attorneys.
    • Prenups must be completed well before the wedding, especially in New York, to be valid.
    • Full financial disclosure from both sides is essential.
  • Tip (Suze, 08:26): “She cannot sign a prenup on the way to the altar. It will not be valid, especially in the state of New York… She needs to get her own matrimonial attorney."

3. Scam Awareness in the Financial World (10:31–12:05)

• Listener Concern: Fake Contact on WhatsApp
  • A listener was approached by a scammer impersonating Suze.
  • Suze firmly states she never communicates via WhatsApp and warns listeners of scams.
  • Quote (Suze, 11:06): “I would never, ever say to you, ‘Let’s continue this on WhatsApp.’ I actually don’t even use WhatsApp.”

4. Investing HSA Money and Managing Medical Expenses (12:05–15:41)

• Listener Victory: Kay
  • Debt-free and with an employer-funded HSA, Kay asks about investing her HSA contributions.
  • Suze’s Advice:
    • Keep enough cash to cover deductible and out-of-pocket maximum before investing HSA funds.
    • If you have emergency savings to cover potential expenses, you can invest above those safety amounts.
  • Advice (Suze, 14:33): “If you have $3,100 in a money market account... you could invest anything you want above the deductible in the HSA investment choices.”

5. Are Goldbacks a Good Investment? (15:41–19:55)

• Listener Question: Patty
  • Patty asks about "Goldbacks," physical notes with a tiny amount of gold.
  • Suze explains:
    • Goldbacks contain small quantities of gold, not issued by the U.S. government.
    • They're legal products but not practical investments—carry high premiums and limited liquidity.
    • Many sellers use high-pressure tactics; the product is often targeted at vulnerable buyers.
  • Verdict (Suze, 18:51): “Legitimate product, okay, maybe. But not a guaranteed investment… stay away.”

6. Inheritance, Sibling Relationships, and Giving While Living (19:55–26:07)

• Listener Question: Roberta
  • Roberta wants to gift her inheritance and IRA to her caregiving sister.
  • Suze’s Legal/Tax Guidance:
    • Best to ask their mother to update the will/trust, or Roberta can disclaim her share upon inheritance.
    • IRA inheritance rules: Only spouses can inherit and treat as their own; siblings can be eligible designated beneficiaries and stretch the IRA over their life.
    • Suggests giving support during life rather than waiting.
  • Emotional Note (Suze, 25:19): “Do you really want to have to wait till you die to give her money? Really, when she’s older than you?... Think about how she must feel…”

7. Caregiving Pride – What Matters Most (26:15–28:01)

• Story: Suze’s Dinner with Friends
  • Suze recounts asking an Olympic athlete what accomplishment made her proudest: caring for her mother.
  • Memorable Reflection (Suze, 27:53): "It’s such a privilege… to see them, they brought you into the world, and for you to escort them out is an honor.”

8. How to Triage Debt and Repair Credit (28:09–32:49)

• Listener Question: Anna
  • With $15,000 in student loan debt and $5,000 in credit cards (some charged-off), Anna wants a plan.
  • Suze’s Steps:
    • Don’t pay charged-off accounts—settling will not improve FICO, just let them work out over time.
    • Focus on current student loans (cannot be discharged in bankruptcy).
    • View student loans as “good debt”—they led to opportunities.
    • Start slow, steady savings with a Roth IRA and consider Alliant Credit Union’s Ultimate Opportunity Savings Account.
  • Key Advice (Suze, 29:09): “Once it is past the 90, 120 days and then it goes into charge off, let it stay there, do not settle it, do not do anything with it, just wait to see what happens…”

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Notable Quotes & Memorable Moments

On Impact:

“There are things in life that money will never, ever buy or replace. And one of them is feeling happy and proud and in love with who you are.”
— Suze Orman, 05:11

On Action:

“It wasn’t listening to my advice—it was following my advice. For those of you listening right now, if all you’re doing is listening, not going to help you at all. You gotta take action. Do you hear me? Action. Action. Action.”
— Suze Orman, 20:29

On Inheritance and Siblings:

“Do you really want to have to wait till you die to give her money? Really, when she’s older than you?... Think about how she must feel. She knows she’s taking care of your mother… but she has nothing.”
— Suze Orman, 25:19

On Giving and Caregiving:

“It’s such a privilege… to see them, they brought you into the world, and for you to escort them out is an honor.”
— Suze Orman & KT, 27:53

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Important Segment Timestamps

• Listener Pride Story (Sloan): 01:38–05:15
• Prenup & Family Wealth: 06:28–10:31
• Scam Awareness: 10:31–12:05
• Health Savings Account Investment Advice: 12:05–15:41
• Goldbacks Investment Reality: 15:41–19:55
• Inheritance and Sibling Caregiving: 19:55–26:07
• Caregiving Pride Story: 26:15–28:01
• Debt Triage & Credit Repair: 28:09–32:49

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Recurring Themes

• Authenticity Over Wealth: Suze and KT consistently underscore that financial success is much richer when paired with being proud and secure in who you are.
• Relationships Come First: Family, love, and care for others are valued more highly than money alone.
• Protective Planning: Proactive legal and financial steps, especially around inheritance and marriage, are key to long-term well-being.
• Financial Scams: Vigilance against fraud and scams is vital; Suze repeatedly warns about impersonators.
• Action, Not Just Listening: Implementing advice is what transforms lives—not mere consumption of information.

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Final Takeaways

This episode is a poignant reminder that financial freedom is about more than numbers: it’s about pride, care, and active, loving stewardship of one’s life and resources. Suze Orman and KT blend practical advice with inspiration, empowering listeners to make choices that honor both their wallets and their hearts.

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People first, then money, then things. (33:05)

Transcript

[Katie]

Foreign.

[Susie Orman]

2026. Welcome, everybody, to the Women and Money podcast and everybody smart enough to listen. This is the Katie and Susie edition.

[Katie]

Yes, Ask anything.

[Susie Orman]

So this is where if you have a question, everybody, and it's short and it makes sense and you give me enough information that maybe it could be answered. All right? Because KT looks at that when she looks at the emails and she chooses it, it will be answered on this podcast again. Write to asksusypodcastmail.com Are you sad?

[Katie]

I'm a little sad, everybody, because Mother Nature did not want Susie and I to fly to New York today.

[Susie Orman]

Yeah, we were supposed to be.

[Katie]

We are supposed to be on our way to Manhattan. We had lots and lots of wonderful gatherings, reunions, and most of all tomorrow, a very special birthday celebration with Larry Gallant, Amy's husband. Amy, our executive producer. Larry's birthday is during Chinese New Year. This year we planned for you, Larry, the most amazing Chinese New Year dinner and a dessert beyond the beyond. And I'm not going to tell you anything else until next year when we'll try it all over again.

[Susie Orman]

Happy birthday, my friend. All right, what you got, Katie?

[Katie]

Okay, so I want to open with a story. This isn't a question. And sometimes I love when you all send me your stories or, or things that you've experienced from Susie. And this one is particularly special and it's from a gentleman by the name of Sloan. Dear Susie and kt, thank you for everything you've both done for me. I first started listening to you back in 2005 when Susie hosted the Susie Orman show on CNBC Saturday nights when I was babysitting in high school. I would put the kids down and watch the show. And you taught me so much about money and later ready for this, about accepting myself and as a gay man, particularly at the end of each episode when you would say good night to kt. Do you remember that? Susie, kt.

[Susie Orman]

Of course I do. Otherwise why would I. Of course I do.

[Katie]

So she would say good night. I was probably with her in the studio, but it was always aired fairly late on Saturday nights and she would always end by saying goodnight to KT. So fast forward now, Sloan said, I'm 37, married to a fantastic husband. We are multimillionaires from the advice you shared on the show and in your books. And then he quotes all Susie's favorite things. Open or Roth. Make yourself indispensable to your employer when you're young, fab and broke. M stands for marriage and for money. Live below your means within your needs, among others. He's quoting everything you ever taught him. And he said, getting to this point wasn't always easy. I had a difficult coming out experience with a family who took it quite hard. But seeing role models like you and KT gave me confidence, and I was not alone as the only gay kid in a small town. And then he said, there have been ups and downs over my corporate career during the last 15 years, but throughout it all, I did diligently kept contributing to my Roth accounts. I am so blessed. Most importantly, I'm out proud and loving life here in New York City with a family and in laws who are wonderful and who have come around. I fundamentally believe I would not be where I am today without your wisdom and inspiration. Isn't that sweet?

[Susie Orman]

You know what I'm saying?

[Katie]

From Sloan to you.

[Susie Orman]

Look at my little face. You know what I'm sitting here thinking? Am I more proud, seriously, that maybe my advice that he chose to take made him multimillionaire? All right. Or am I more proud that because we have not ever hidden our love for one another in my entire professional career, even before I met kt, I was so proud of being gay. I loved my life. I loved who I was, and I didn't let anything hold me back because of that. Am I more proud because I touched one little boy's heart that made him not feel so all alone? And now look at him. And I have to tell you, which one do you think I'm more proud about?

[Katie]

Absolutely. For touching his heart?

[Susie Orman]

Yeah.

[Katie]

Bar none. I mean, that's not even a question.

[Susie Orman]

Yeah.

[Katie]

There's things in life that money will never, ever buy or replace. And one of them is feeling happy and proud and in love with who you are.

[Susie Orman]

Yeah. No, that's fine.

[Katie]

Right?

[Susie Orman]

Yeah. So, Sloan, thank you so, so, so much.

[Katie]

Thanks for sharing that. I wanted to open today's podcast with your story. Sloan, I'm also proud that you're a multimillionaire. Good for you. Why not? Okay, my next question is from Chuck, and this one is equally a great story. Says, hi, susie. I'm a 62 year old postal carrier in good financial shape. But I have a question and I really don't know what direction to go. My daughter is 26. She has a good job at JP Morgan in New York. She makes about 120,000 doll. $25,000 seems to be going in the right direction. She maxes out her Roth, gets the full match on her 401k. She has no debt and does a great job of budgeting her money. Here's my question. She has a serious boyfriend. They're talking about getting engaged.

[Susie Orman]

How old is his daughter?

[Katie]

She's 26. Ready?

[Susie Orman]

Yeah.

[Katie]

It's okay. He does not make the same money as my daughter. He makes about $90,000, but he's a trust fund bab thinking a pretty substantial amount. I don't even think he knows how much, but his mom was a partner in a hedge fund, and she hangs out with friends that are extremely wealthy people. So Chuck the mailman is, you know, kind of giving us this story. Then he said that said there will be a prenup for my daughter to sign before they get married. And my daughter said she has no problems doing that, and that's fine. But, Susie, who should she get to read over this agreement and what kind of documents should she have drawn up in case she makes a lot more money than him down the road and to protect her when children become involved? I listen to your podcast every week while delivering mail. I love that and have never heard this brought up before. The young man is a nice kid, but I'm old enough to know things in life happen, and I just want to steer my daughter in the right direction. Chuck the mailman Chuck.

[Susie Orman]

Right.

[Katie]

Chuck the mailman Chuck. I wish you delivered our mail. I love the mailman Chuck.

[Susie Orman]

Here's what's really important. It's not so much between her and her boyfriend, Believe it or not. What's going to be very important, in my opinion, is that his mother really loves your daughter, and they have a very, very close relationship. And one way that will become true is if your daughter is happy to sign a prenup. Your daughter wants to protect her current boyfriend, possible fiance, possible husband's future inheritance. And it's going to be coming, obviously from his mother. So his mother is always going to want to protect her money that she wants to make sure goes to her son if her son decides to use some of it to help them live a nice lifestyle. Okay, but here's the advice. Number one, she cannot sign a prenup on the way to the altar. It will not be valid, especially in the state of New York. She has to really do that now. She needs to get her own matrimonial attorney, her prenup attorney, not just a regular attorney, but somebody who seriously knows how to draw up prenups and that really understands the way to do it and protects her in case she has increases in salary on all kinds of things. So it's really not that difficult, believe it or not again. They both need to be represented by an attorney. I'm sure he will be. I'm sure his mother will absolutely take care of that, but she does as well. And they both need to divulge to each other how much money they have, everything they know about their money, and then don't worry about it after that, really let his be his from his mom. Let what they make together will have to be divided. That won't be necessarily protected by a prenup. But she just needs her own lawyer. And changes should always be made to those prenups. But don't wait to do it right before she's married, because it won't be valid. Maybe that will help her. All right.

[Katie]

Okay. This is from Holly. Susie. She said hi. I had made a comment in the Women in Money blog, and I was contacted by a Susie saying, let's continue the conversation via WhatsApp. I was afraid it was a scam or fake Susie, so I didn't respond. It was several days ago, but was bothering me because if it was you, Susie, I feel terrible for not replying. So I thought I'd better check with you all. Thanks very much. And again, apologies if it was not a fake or AI scam.

[Susie Orman]

It was such a scam. I can't even tell you. Right. And what you have to understand, everybody, is I would never, ever say to you, let's continue this on WhatsApp. I actually don't even use WhatsApp, so I would never say that, number one. Number two, if anything, I might maybe answer you in the blog or answer you on the app, but I've stopped doing that as well because people have been imitating me. So, no, I am not responding to you. You are not to think it's me. If I do want something from you, trust me, I'll find a way to get in touch with you personally and you'll know it's me. But I can't tell you how upset it is that all this scamming is going on. So I ask you to be very, very, very careful. All right, kt.

[Katie]

Okay. This is from Kay. She said, Hi, Susie and KT. I'm 36, without kids, and after paying off my student loans, I am finally debt free with an emergency fund for the first time in my adult life, thanks to your podcast. Congratulations, Kay.

[Susie Orman]

She said, congratulations, Susie.

[Katie]

Congratulations, Susie.

[Susie Orman]

I just want to say something. A little bit ago, you were talking, I think it was Sloan, and you said how proud you were that he was also a multimillionaire.

[Katie]

Yes.

[Susie Orman]

Well, what did you have to do with that?

[Katie]

I'm just proud of him.

[Susie Orman]

All right.

[Katie]

Proud for him.

[Susie Orman]

For him. All right. Okay. Just one.

[Katie]

And I think I influence everyone a little here, maybe a lot. So Kay keeps saying, Susie, I have an HSA account, and I'm very excited to invest.

[Susie Orman]

What's an HSA account?

[Katie]

Health Savings Account. And I am very excited to invest that money into the stock market. My employer funds the HSA, $1000 out of the 1700 deductible.

[Susie Orman]

Fabulous.

[Katie]

You always say not to invest with money you may need anytime soon. And here's Kay's question. She said, so what if I invest and then have unforeseen medical expenses this year? She's saying, and my investments are down. So that's her question. And, you know, she's asking, what should she do? Should she invest?

[Susie Orman]

Yes. So here's the thing. I read this one kt, and I asked Kay just a very simple question. What is her max out of pocket expense? Because every health savings account has a deductible. In this case, for K, it's $1,700, which is actually very good, by the way. And everyone has a max out of pocket expense, meaning an amount of money that no matter what happens, no matter how sick she is, no matter what goes on, she never will have to pay more than that out of her own pocket. And for kay, it was $3,100, which is also incredibly low. So I didn't answer Kay directly, but I'm going to answer her now. I just needed that piece of information. Kay, here's the scoop. They're giving you $1,000, so you just need to make sure that you keep $700 safe to meet the $1,700 deductible. Correct. You got that? So you have that money. However, on top of that, you have to make sure that you never pay more than $3,100 out of your own pocket. So if you have $3,100 in a money market account, in a savings account, anywhere that you can access it, and you just happen to know that that is for the max out of pocket expense, you could invest anything that you want. Then above the deductible in the HSA investment choices, if you do not have any extra money at all, you don't have that $3,100 extra, then don't invest the 3,100 plus $1,700. Just keep it in the money market account, in the hsa so it is there, and then you'll be fine. No Matter what. Either way, you'll be great. Good.

[Katie]

All right, Susie, this next question makes me curious. It's from Patty. My husband saw an ad for something called gold back. He thinks it's a great way to access gold.

[Susie Orman]

Of course he does.

[Katie]

For a smaller investment, I think it looks like a scam. Do you know anything about these gold bags? Do you?

[Susie Orman]

I do.

[Katie]

Tell us.

[Susie Orman]

You know, Katie, right now everybody's still talking about gold, gold, gold, silver, silver, silver. And so people are trying to get people to invest in gold in all little ways. Okay, so gold backs literally are physical notes that contains a very, like a piece of paper, kt. And on the paper, it contains a very small amount of 4 karat gold that's sealed between, like this plastic thing, like this polymer, you know, the things that are. And there's a little tiny bit of gold in there.

[Katie]

So it's physical gold. It's like a piece of gold, A

[Susie Orman]

little tiny bit of it. So each one has a measured gold content. So gold backs can contain. Get ready for this, like 0.0001 ounce troy ounce of gold. Now little, that is. And so what happens is they're created by this private company, not by the U.S. government. That is number one. And some people use them as a collectible, a way to own small amounts of gold or whatever it may be. Okay, meaning some small businesses, though, do choose to accept them for money. Don't ask me why, but they do. But they're not widely used like dollars. So no, they aren't fake gold. There really is gold in them.

[Katie]

What do you do with it?

[Susie Orman]

So are they. What do you think? Is that a scam? Is it not? What would you do? What would you tell her?

[Katie]

I guess it's not a scam. But what do you do with it? It's not a practical investment, in my opinion, because what if you need the money? You want to sell this gold back? How do you do that?

[Susie Orman]

Here's what's so. All right. Is that they're not U.S. legal tender in the way like dollars are. But many sellers, as I said, claim you can use it for money. You cannot. You cannot easily spend them. Just remember I said that. Now, there are many people who sell these that have targeted people like her husband. They have targeted seniors or vulnerable buyers with these high pressure sales, claiming exaggerated benefits and guaranteed returns and all these things. So on some level, they're kind of a legitimate scam. Believe it or not, a legal scam kind of. But Goldbach, the reason I don't want any of you to buy them. All right everybody is that they carry a very high premium over the actual gold content.

[Katie]

What does that mean?

[Susie Orman]

So what that means is you and I go and we buy gold. We pay whatever gold is going for the ounce, it's going for whatever we pay that amount here. Maybe gold is going for X and they charge you x plus maybe 20% or 30% or some percentage because that's how they make their money. So you might pay more than what the gold inside is even worth. Everybody if you're thinking about it in terms of investment terms. So here's the bottom line. Legitimate product, okay, maybe. But not a guaranteed investment. Can you just tell your husband stay away? Why doesn't he play cards of a different kind? Gin rummy or whatever. But not these.

[Katie]

I still, I still don't know. If you, if you collect them, how do you redeem it? Where do you redeem a gold back?

[Susie Orman]

There are some people that you can redeem them with like the, the sellers and all. But Katie, they're not even worth us discussing. If you want to know the truth.

[Katie]

That's the answer. There you go everybody. Okay, this is from Roberta, Susie and kt. I have two questions. I going to let her. I like this one a lot. This one reminds me of my family too. She said I grew up poor with six siblings. Nothing like siblings. I have a net worth of approximately 9.5 million doll. Listening to Susie's advice for the past 30 plus years.

[Susie Orman]

Wait, I have to say something right? This may have been our second one today KT about how we have created millionaires by listening to my advice. Wait, it wasn't listening to my advice following. It was following my advice following. So for those of you listening right now, if all you're doing is listening, not going to help you at all. You gotta take action. Do you hear me? Action. Action. Action.

[Katie]

So Roberta said Susie, I'm 65 years old and just retired this year. I have a sister four years older than myself. My sister selflessly retired five years ago after working over 30 years in a factory to care for my 90 year old mother. We could never repay her as she took better care of our mother than anyone we could pay.

[Susie Orman]

That's how we felt about Lynn.

[Katie]

Yes, I said that it reminds me of my sister.

[Susie Orman]

Yeah.

[Katie]

My sister made slightly more than minimal wage her whole career. I would like to give her my portion of my inheritance upon my mother's death. My mother's house and accounts are held in an LLC transferable to her seven children upon her death. Can I do this without paying taxes. I also wish to put in my trust that my sister receive a large sum of money from my IRA account. If she is 69, four years my senior, can the IRA funds be moved from my IRA to hers? I don't think so. Can they?

[Susie Orman]

No, they can't.

[Katie]

Yeah. No. And Susie, can she use it as her IRA without the 10 year withdrawal rule applying?

[Susie Orman]

So, Roberta, first of all, in terms of that, you want to give your portion of your mother's house on her death to your sister. You can do two things. Go and talk to your mom, say, mom, I really want to do this. Can you change your will? Can you change your trust to give her my share? And that would be the easiest otherwise. The other thing you can do is when mom dies and you get your portion, just disclaim it. Just say you want it to go to your sister. You don't want it, so you don't accept it. It really is kind of just that easy. But the best way to do it really would be for mom to change it right now. And maybe mom will look at things and go, well, maybe I should do that with more than just Roberta. Share just a thought. Next. Your sister is four years older than you, so she cannot take on money that's in your IRA as her ira. The only person that can do that is a spouse. Where a spouse can take on your IRA on your death as his or her Iraq. However, your sister is older than you. So now she qualifies under what's called an eligible designated beneficiary, which I've talked about many, many times. But what an eligible designated beneficiary is upon your death, when you leave her money, it will be in an inherited IRA, her name on it and everything. Okay, number one. Number two, she does not have to wipe it clean within 10 years. She can do it over her entire life span because she is what's called an eligible designated beneficiary. If she was not, then the 10 year would apply to her. But I just want to say something to you, okay? She's four years older than you. And Katie and I often talk about this as well. Do you really want to have to wait till you die to give her money? Really, when she's older than you? So how are you going to feel if she dies before you and you never got to give her any of your IRA or anything like that? So given that you have such a great net worth and eventually here you're going to be taking money out of your IRA anyway, why not with the money that you take out every year, you pay taxes on it. And you can give it to her or do whatever you want. You can give some of it, take it off your unified credit. You know, some of it will go where it's not taxable to her, or you just depends on the year you do it. But think about doing that now because otherwise, I just have to say this. Think about how she must feel. She knows she doesn't have any money. She knows she's taking care of your mother, which is probably the greatest gift that she's ever given to herself, bar none. But she has nothing. She has nothing. And so she has to be worried about herself. And what is she going to do when she gets older? Who's going to take care of her like she taking care of your mother? So you make sure, Roberta, that you take care of that somehow for her. Just saying.

[Katie]

And Roberta, talk to your other siblings

[Susie Orman]

about it as well.

[Katie]

Have them put a little money in the pot for this caregiving system.

[Susie Orman]

I just want to tell you all a little story that happened the other day. Last Saturday, we had a friend by the name of Paula Canny who came from California to Florida to do a few things here with her old friend by the name of Kathy. And they're just good friends. Fabulous. And they came to our condo for dinner. And I've been friends with Paula and Woody, Paula's wife, now Woody, but we've been friends. I've been friends with Woody since the Buttercup days. Since the early 70s, everybody.

[Katie]

Over 50 years.

[Susie Orman]

Yeah, a long time. So Paula came and we were talking, and I never really knew a lot about Kathy. And Kathy was in the Olympics. She was such an interesting woman years and years ago. And I asked her this question, out of everything that you've accomplished, and I'm telling you, this is an accomplished woman in so many ways, it's not even funny. And I said, out of all the things you've done in your life, what are you most proud of? What made you the happiest? And she thought, and she thought. And she looked at me and she said, you know what made me the happiest? Being able to take care of my mother. Be there with her, not only financially, but physically, to the day that she died. That to this day has made me the happiest I could ever be. So I just wanted to tell all of you such a privilege.

[Katie]

It's a real honor to. To see them. They brought you into the world, and for you to escort them out is an honor.

[Susie Orman]

I think yeah. Even if they're not, you know, sometimes when they get older they can be a little nasty. So just, just know that. You got any others for us, Katie?

[Katie]

Okay, so I have one more question from Anna. Susie and I really like this. I hope you're doing well. I'm reaching out because I truly want to take control of my financial and would value your guidance.

[Susie Orman]

Yes.

[Katie]

So Anna said, Susie, I currently have about $15,000 in student loan debt and approximately 5,000 in credit card debt. Some of my credit cards have been charged off and I'm unsure what my best options are at this point. I want to make smart decisions, improve my credit and create a solid plan to move forward. Don't you love that?

[Susie Orman]

Love that.

[Katie]

So what steps would you recommend I take first, should I focus on settling the charged off accounts? Consolidating or prioritizing my student loans? I'm ready to take responsibility and make changes. I just need direction on the best path forward.

[Susie Orman]

So girlfriend, here's what I want you to understand. I want everybody by the way to understand this. Once you have a loan and it has been charged off, even if you go to settle it, you go to pay it off, it is not going to improve your FICO score. Everybody, once it is past the 90, 120 days and then it goes into charge off, let it stay there, do not settle it, do not do anything with it, just wait to see what happens with it. Also always be aware, Anna, that as time goes on that it is very probable you will get an email or a letter from somebody at collection agency that says, Ana, you owe this amount of money and we want you to pay it now. Know that every single state has a statute of limitations and once something has been charged off past those years, three years, four years, five years, nobody can come after you again. So I would not do a thing with those charge offs on any level. Next. Student loan debt is debt that cannot be discharged in bankruptcy. So that is really one of your number one priorities to tackle that and make sure that it gets paid and you never go into forbearance or default or delinquent with it ever. However, I want your attitude to change. I want you to look at your student loan debt as good debt. It's debt that was created to help you be who you are today. There is good debt, Anna, and there is bad debt. Bad debt is paying for your present day desires and your cost will be your future day needs. Good debt, mortgage debt, student loan debt is paying for your present day needs so that one day you'll also be able to pay for your future day desires. So just know that little by little. And if you really want to make your money, make more money. Make sure that you do a Roth retirement account at work if they offer it, or a Roth IRA on your own. I don't care if you put $10 in it, $15, whatever it may be. Now one last thing. If you are just starting out, take advantage of the Ultimate Opportunity Savings Account. With Alliant Credit Union. You put in $100 a month on every single month for 12 consecutive months. And at the end of the 12th month, guess what? They'll give you $100. And in the meantime, your money is making about 3.01 APY. And hey, if you can't continue it, who cares? You're still making the interest rate. So if you do that, you'll learn what it feels like to also save. Go to myalliant.com m y a l l I a n t dot com and really open open up the Ultimate Opportunity Savings account. What a great way for you to start and stay in the game and win big time. Kt.

[Katie]

What a closure. I like that one. Yeah, go for it, Ana. Listen to that girl and.

[Susie Orman]

All right, sweetheart. So until Sunday with Susie School. There's only one thing that we want you all to remember when it comes to your money. What is it?

[Katie]

KT People first, then money, then things.

[Susie Orman]

Now you stay safe and Remember, go to YouTube.com Suze Orman, check out my personal YouTube channel and subscribe. Bye bye.

[Chorus/Singers]

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

[Susie Orman]

Hi everybody. Suzie O here. And I have to tell all of you there is one benefit that I know all of you need and your corporations need to offer. And it comes from a company that I helped 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 Suzy S U Z E and take a look. Look at what I have for you there. I promise you, you're gonna like it.

[Podcast Disclaimer/Announcer]

All right now, neither Suze Orman Media nor Suze Orman is acting as a certified Financial Planner Advisor, a certified financial analyst, an economist, cpa, accountant or lawyer. Neither Suze Orman Media nor Susie Orman make any recommendations as to any specific securities or investments. All content contained in this podcast is for informational and general purpose 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. Thanks for listening.