December 11, 2025 • 35 mins
On this edition of Ask KT & Suze Anything, Suze answers your questions about borrowing against an insurance policy, medicare, is an expensive car really worth it and so much more!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Suze (00:07):
December 11th, 2025. Welcome everybody to the Women and Money
podcast and what KT?
KT (00:12):
And everyone's smart enough to listen.
Suze (00:16):
And if they don't listen, does that mean they're not
smart enough? Yes.
This is the Ask KT and Suze Anything edition. If
you have a question, write into Ask Suze, S U
Z E podcast at gmail.com. And if KT chooses it, oh,
we will answer it on this podcast. All right.
(00:40):
Should we just get into it?
KT (00:41):
Let's get right into it. My first question is from Susan,
and she said, Hi, Suze and KT. My father, who
is 75, watches these people on Facebook, and they told
him that he could get a life insurance policy and
borrow against it.
That he can put the stocks into a trust and
(01:01):
borrow against them as well for a house. I think
it's a scam. What are your thoughts on this?
Suze (01:07):
It's not a scam, Susan. It's absolutely just stupid. How
is it possible that your father at 75
is not intelligent enough to know not to listen to
somebody on Facebook that he knows nothing about. Why are
they telling him this? It's just stupid. OK. First of all,
when you see that you can borrow against something.
(01:30):
What does that say to you? It says that you've
put your money somewhere and now you're going to borrow
against it, which means you're going to have to pay
an interest rate to use your own money. Are you
kidding me? It just makes no sense whatsoever. I'm very,
very familiar with these policies, and my advice to your
(01:50):
father would be stay away, stay away, stay away. Next,
anybody can put money
into an investment account, whether it's in trust or individual name,
and qualify for something called margin, and margin is where
you have these stocks, and you can borrow against them
to do anything you want, but then once again, it's
(02:12):
not free. You have to pay the brokerage firm the
money to borrow against the stocks and
if the stocks that you borrowed the money from start
to go down significantly, there's something called a margin call.
And if your father doesn't have the money to absolutely
pay that call, what does that mean? They will liquidate
the stocks that he has, and he could possibly lose
(02:34):
most of his money, if not all of it. It's
not a scam. It is stupidity, all right.
KT (02:43):
I think that's great. Not a scam. It's just stupid.
Suze (02:47):
Well, you know, all these people...
KT (02:48):
I think that was just all you had to say.
Suze (02:50):
Yeah, when you see the word
borrow when you see the word that you can do
something with your stocks and borrow against them twice now,
twice in this email you read me the word borrow.
Just think about what the word borrow means and if
you have the money, why would you borrow your own money?
(03:11):
All right. All right.
KT (03:12):
Next question is from Marie. She said, first...
Suze (03:16):
What a way to start off the morning.
KT (03:17):
I know. I'm sorry.
Suze (03:19):
You did that on purpose.
KT (03:20):
No, I didn't. I like to rile you up, but
it woke you up. That's for sure. OK. Next question
from Marie. She said, first, thank you so much for
an excellent podcast. I've learned so much from both of you.
She said first time question submitter, this situation is a
real conundrum. Sadly, my sister passed away recently. She named
(03:43):
my elderly father as the beneficiary for her quite large 403b.
What's the best way to handle the funds to avoid, ready?
Avoid ordinary income taxes.
Suze (03:58):
Listen, Marie.
Sometimes, obviously, you want to avoid income taxes if you can.
However, whenever it comes to a retirement account, there's only
one way to avoid income taxes, which I have been
preaching from the mountain top now for over like 20
or 30 years, however long it's been really, and that
(04:22):
is what? By doing a Roth IRA, a Roth 403B,
a Roth 401k, a Roth TSP.
That is why I've been saying it. Once your money
is in a traditional 403B, meaning pre-tax account,
and the owner, your sister, dies and it now goes
(04:45):
to your father. It is now in an inherited retirement
account and there is absolutely no way to avoid taxes
on it. However, stop thinking about the taxes that he's
going to owe. Start thinking about how much money is
in there.
And how he will take it out. I don't know
(05:06):
how old he actually is, but he will either have
to take it out according to how old your sister
was when she died, all of that, but something is
always better than nothing.
And if you approach this as, I want to just
give the money away so he doesn't have to pay taxes,
what can I do? What can I do? You're gonna
get yourself in trouble. And just know that it is
(05:28):
possible that when your father dies, maybe you then get
that money because he gets to name who
he wants as a beneficiary on this inherited IRA. So
stop worrying about taxes. There is no way around them.
All right, go on.
KT (05:46):
OK, this is sweet. Suze from Rosie.
Suze (05:48):
However, I just have to say one thing. He's not
going to take all of this money out at one time.
So don't be freaked that all of a sudden he
got a lot of money and he's gonna take it
out at one time. He's not, OK. It's gonna take
out little by little, but probably it's gonna have to
be wiped clean within 10 years. It just depends on age.
All right, go on.
KT (06:08):
Suze. This next...
Suze (06:08):
Are you sure I'm done with that question?
KT (06:10):
Yeah, 10 years, Suze. This, this next, this next question
is from Rosie, and it's very sweet.
She said, I was born in 1941, so currently I
am 84 years old.
Suze (06:23):
Me too. 10 years later.
KT (06:26):
I do not have a great deal of money. However,
in total, I have over $100,000 in savings and CDs.
I think that's a great deal of money, Rosie.
Suze (06:37):
That's a great deal of money for most people.
KT (06:38):
And then she said, Does it make sense for me
to convert any of the savings to a Roth?
And then Rosie gives you an explanation as why she's asking.
She said, my family is long lived with my mother
living to 101 years old.
Suze (06:54):
See, Rosie, here's the problem. If this money right now
is just in a savings account, $100,000 in savings and CDs,
you can't convert any of that to a savings Roth.
Unless you are currently working and you have earned income
and then you're not converting it, you're just opening up
(07:16):
a contributory Roth and putting some of this money in it,
but I got news for you. It really doesn't make
any sense to do that if it's all in savings
and chances are that you're living off of the interest
on that savings and everything. No, it does not make
sense for you to do that. And in fact you cannot, OK.
(07:38):
KT, you can only convert you money.
KT (07:41):
If you are working.
Suze (07:41):
No, no, you can only convert money to a Roth
if you have it in a traditional retirement account. Then
you convert it. If it's not in a Roth to
begin with, you're not converting anything. You're opening up a new,
a new one, and you have to have earned income
to do so. And at 84, for some reason, I
have a feeling.
(08:02):
She might not have income, but anyway, go on.
KT (08:04):
OK. Next is from James. We have a man smart
enough to listen. Yay, Suze, I know you want everybody
to have a Roth IRA account, including myself, and I
want one, but do you want us to take a
low-risk IRA out or an aggressive one?
I don't know the difference between the two.
Suze (08:24):
Well, one is investing your money, risky, maybe.
KT (08:27):
He said, I don't know what the best option should be.
Suze (08:29):
It's KT, low risk would be treasuries, CDs, money market accounts, maybe even...
KT (08:36):
Aggressive is higher.
Suze (08:38):
It's higher return and higher risk. James, can we just
talk for a second? How do you expect me to
answer that question? And I want everybody to listen to
this answer.
I know nothing about you. I don't know your age.
I don't know how much we're really talking about. I
don't know how secure your job is. I don't know
(08:58):
your health. I don't know your emotion quotient, which means
you put in $5,000 and you lose it. Are you're
going to want to commit financial suicide? Some people can't
afford and don't want to emotionally lose even $10. So
how can I answer that question? I cannot. So therefore...
I can't answer that question. Go on, KT.
KT (09:21):
But he is smart enough to listen.
Suze (09:23):
Smart enough to listen. But James, if you've been listening
now for a while, you would know that, you know.
But just assuming that you don't know a lot about
the stock market because you must not even to ask
that question.
If you're still relatively young, you have at least 5, 10, 15,
20 years till you need the money and you don't
know what to do. Why don't you just dollar cost
(09:45):
average every month in a Roth IRA in a Standard
and Poor's 500 index fund?
KT (09:51):
There you go, James.
Suze (09:53):
Actually an ETF. All right,
KT (09:54):
All right, there you go, James. This is from Sarah.
She said, My husband and I are 60 and 63.
He is retired, and I will be soon.
We are very well suited financially. We have always lived
within our means and continue to do so and enjoy
a retirement of purposeful travel, fitness, and continuing
(10:15):
education.
Suze (10:15):
Don't you find this is an interesting way to start
a question? What, what, where's she going? Where's she going?
KT (10:20):
OK, ready. Here's where she's going. My husband loves cars.
Are you ready?
He'd like to purchase a car that I feel is
too expensive.
It will cost about $90,000.
Is that, um, is that one of those, um...
Suze (10:37):
I don't know what kind it is, KT.
KT (10:39):
Which I personally feel is ridiculous
Suze (10:41):
Don't become like James now.
KT (10:43):
All right, wait, so Sarah said, I feel, I personally
feel this is a ridiculous price to pay for a vehicle.
He's a car guy and ready, Suze? Her husband says
cars give him pleasure.
Suze (10:55):
Now how old is he?
KT (10:57):
Well, 60 and 63, so I think he's 60. She's
a little older and wiser. This is...
This is a big argument between us.
Suze (11:05):
Does it say he just turned 60 like he's in
his sixties?
KT (11:08):
It says my husband and I are 60 and 63.
He's retired. He's retired.
Suze (11:14):
So he's 60, right? All right.
KT (11:17):
She's 63, a little wiser. Ready? It's a big argument
between us. At a minimum, I'd like him to buy
a car that is two or three years old.
She said, yes, I know we have the money for this,
but it doesn't fit with my values. So, is this
a money solution or a value solution? What do you think, Suze?
Suze (11:40):
Sarah, in my opinion, your husband is going through something
that I call the dollar of the decades.
It's almost as if men, not women, but when men
turn a decade, 50, 60, 70, those ages, for some
reason they wanna buy a boy toy. They wanna impress
(12:01):
other people at a stop sign and say, look at
what I have, especially if they have retired. It's a
very fascinating thing.
And I have a feeling that's what he's going through,
and you say that he always loves cars.
Well, think about that. KT and I are very, very
(12:23):
wealthy women, and I love cars, but it would not
matter how wealthy we are. No way would I ever
spend $90,000 on a car.
KT (12:35):
Tell them what you drive.
Suze (12:37):
I drive a 2012 Mercedes convertible that's worth now maybe
$10,000 or less at this point in time.
We only have 50,000, 60,000 miles on it.
KT (12:51):
53,000.
Suze (12:52):
All right, but it's, oh, now you know numbers.
KT (12:54):
Because I'm, I'm the driver.
Suze (12:56):
Anyway, but it's like what a waste of money in
my opinion. However, it's something that he wants, and with
KT before either of us spend a large sum of
money or wanna buy something, both of us have to
be in agreement because it's both of our money.
(13:18):
And this is both of your money, and I always
go with the one that doesn't want to do something.
If KT doesn't wanna do it, and I really wanna
do it, we do not do it, cause you are
gonna be a little bit resentful the whole time. But
here's how I would deal with it if I were you.
(13:39):
You have to sit down with him and you have
to say, can we just seriously figure out what this
car is actually going to cost us because Sarah, it's
not just $90,000. There's gonna be tax on it, there's
gonna be all kinds of things on it, but just
let's say it was $90,000 including tax.
(14:01):
But that's not where it ends. When you own a
$90,000 car, you have automobile insurance. So you're looking at,
at least, depending on his record, everything else, even his
FICO score, believe it or not, $4,000 to $6,000 a
year in insurance. You're looking at maintenance on a car
(14:22):
like that.
And maintenance could easily be $2,500, $1,500 a year. You're
looking at depreciation, by the way, of anywhere between $9,000
and $12,000. Actually, it could be more like $18,000 the
second he drives it off the lot. Just saying so,
he lost that money right there. Fuel for the car.
(14:46):
$90,000 cars unless it's electric, and I somehow I have
a feeling it's not. It's gonna be at least, depending
on price of fuel, $2,500 - $3,000 and then registration
and all of these things. So you're looking at least
besides the $90,000, $8,500 to $10,000 a year just to
(15:08):
have that car, OK.
Now let's do the math on the real cost of
this car because he's just looking at $90,000. The way
that I would do it is I would say, OK,
what is $90,000 deposited into an account right now? Let's
just say that's true, and you add $8,500 a year
(15:30):
for five years. What is the cost of that car
over five years? And let's just say that money was
able to make a 7%
annual average rate of return, you're looking at about $175,000
for the cost of that car and and in five years,
if he wanted to sell it.
Good luck if he gets more than $38,000 to $45,000.
(15:54):
So he now is making an investment as you are
entering your retirement years, and he is no longer working,
and he is looking at how much money you have,
and he thinks that he can just do this. He
has to understand the financial ramifications of making a purchase
like this. You never look, everybody, at just what something
(16:17):
costs you to buy.
You have to look at what does it cost you
to keep, right, KT?
KT (16:24):
Absolutely. You know what I would do?
Suze (16:26):
What would you do?
KT (16:27):
If I were her? I would, because they have all
of these very special like fancy car, you know, loan
places or renting places. I would rent one for a week,
see if he gets it out of his
system.
Suze (16:39):
Now, what I would do is rather than buying it
right away.
There's always going to be a $90,000 car that he
can buy.
And given that Sarah does not want to do it,
it's going to cause problems between them. It just is.
I just have to ask you this question. If it
was me, what would you say?
KT (17:01):
Seriously, at your age and with the amount of money
you have, Suze, if that car makes you happy, buy it,
but I'm not gonna drive it.
Suze (17:14):
Oh, then I would never buy it.
Yeah, it's at this time in your life, everything you
do with money, both of you have to say yes,
and if you don't,
and it really upsets you. I'm sorry, I would just
say no.
Now, maybe he wants to buy a car that's two
(17:34):
or three years old and you could compromise somehow like that.
KT (17:38):
Yeah, meet him in the middle.
Suze (17:38):
Meet him in the middle, but...
KT (17:40):
And say to him, let's sit down and look at
the expenses because Susie just laid it out for you
and Sarah say, Let's, let's meet in the middle. Let's
compromise because I want you to be happy, but I
also want you to respect my values.
Suze (17:55):
Yeah, but the truth is, I'm telling you, it's the
dollar of the decades, 60, uh-huh, OK.
I tell you, a car is such an... I, I
know we're going on,
KT (18:08):
Yeah, because Suze's a car person, Sarah. I'm not at all.
I don't care what wheels you put under me, but
she loves cars. She likes to go. She likes to
go to the showrooms and walk around and look, and
she knows everything about cars.
She's been looking at me for probably the past six
(18:28):
years saying maybe we need to think about what our
next car will be since this one's so old, but
she loves this little Mercedes.
Suze (18:36):
I can't do it. I just can't waste money like that.
I just can't do it. It goes against my own values.
But KT, what I was gonna say to you and
everybody else, please understand that a car is actually one
of the most dangerous investments you can make.
Because all it takes is somebody smashing into you, somebody
(18:58):
cracking your windows, somebody stealing it. It is not an investment.
It's simply a showoff toy for others if you ask me.
KT (19:09):
Well, that may be that kind of vehicle. Most cars
are for you to use to get to work, or travel.
Suze (19:15):
He's retired. He doesn't need a $90,000 car.
But hey, what do I know? All right.
KT (19:19):
This next question is from Debbie. She said, Dear KT,
she said, I'm listing your name first, so you hopefully
you'll pick me, and I did, Debbie. You were right.
She said, Dear KT and Suze, if you are single,
should the primary beneficiary on an employer retirement account be
the same as the name of the trust, or is
(19:41):
it best to name a designated beneficiary instead?
She said, I'm desperate for an answer from you.
Suze (19:48):
If you're desperate, if you're desperate, Debbie,
let me see if I can help you here. Oh
my God, my desperate one. Here comes your financial lifesaver
to rescue you.
Just put it in your individual name since I don't
know what kind of trust you have, and it has
to be a see-through trust and everything like that, if
it's a beneficiary of any retirement account, since you're single, right,
(20:12):
the beneficiary should be the name of whoever you want
to leave
this too, all right. And if you're married, it should
absolutely be the name of your spouse, by the way,
for those of you who are married, the contingent beneficiary,
if you know it's a see-through trust, can be a trust.
All right.
KT (20:32):
OK. My next question is from Carla. I love this question.
She said, I'll be turning 65 in August of 2026.
I'm still working full time with no plans to retire
anytime soon.
I have good medical, dental, vision, and prescription drug benefits.
Do I still need to enroll in Medicare? If so,
(20:55):
what parts? I love this question.
Suze (20:58):
How old is she?
KT (20:59):
She's 64 today, but in August next year.
Suze (21:02):
Yes, I hear that. But...
KT (21:03):
She'll turn 65.
Suze (21:04):
But how long does she plan to work?
KT (21:07):
She plans to not retire anytime soon.
Suze (21:09):
She didn't give a time frame for that. All right, let,
let me just see this for a second.
KT (21:15):
Can I just say something? I couldn't wait to turn 65
to get Medicare benefits.
Suze (21:19):
But you weren't working for a corporation that already gives
you health insurance, Miss Travis.
KT (21:25):
OK.
Suze (21:26):
Right. So, I'm so glad we were happy to do so,
but we didn't work for anybody but ourselves. So, my
dear Carla, here's what it depends on two key facts,
all right. Number one:
How many employees does your employer have? KT's looking at me.
KT (21:44):
With question, like why?
Suze (21:45):
KT this question and answer is so critical. I can't
even tell you because if her employer has 20 or
more employees, then your employer plan, her employer plan has
to remain as primary.
And she does not need Medicare B or D at 65.
(22:06):
She doesn't need those at all. She can and she
should delay both with no penalty because it's B and
D that can be expensive. However, if her employer KT
has fewer than 20 employees, then Medicare becomes her primary.
And her employer plan becomes secondary. So in this case,
(22:29):
my dear Carla, you must enroll in Part A and
Part B at 65 or you risk
being able to have any claims that are absolutely approved,
like all these kinds of things, so you have to
first confirm your employer size, and I can tell you
to do so just call your HR department and ask them.
(22:51):
And the question becomes should she enroll in Medicare A
at 65 and she enrolls only in Part A if
it is free, and she has to figure that out.
So if she's worked for 10 years, 40 quarters, da
da da, she'll be able to do it. But if
she has an HSA account, a health savings account, and
(23:17):
she's contributing to it, if she enrolls in Medicare Part A,
she won't be able to have a health savings account.
So she has to know that because it will immediately
disqualify her from it. So, Carla, if you are contributing
to an HSA.
Then delay Part A until you stop contributing. If no,
(23:39):
enroll in Part A at 65, again, only if it's free.
All right, so there you go. I just told her
what she needs. That's it. It's not that simple, believe
it or not. You thought that was a simple question, didn't you?
KT (23:53):
I did.
Suze (23:54):
What did you think I was gonna say?
KT (23:58):
Take it like I did. I couldn't because I, I
got so excited that I didn't have to pay all
those medical bills.
Suze (24:04):
Yeah, but I can tell you one thing. Always go
for Medicare. Always, always, always be very, very careful of
Medicare Advantage. Warning, warning...
KT (24:17):
warning, warning.
Suze (24:19):
All right,
KT (24:20):
Suze, my next question is from Janeth.
Suze (24:23):
What kind of name is that?
KT (24:24):
Janeth. It's Janeth. It's not Janice, it's Janeth.
Suze (24:29):
I'm wonder why they named her that.
KT (24:31):
Probably someone Jane and Beth - Janeth, like maybe two
names together.
Suze (24:37):
Only you would come up with that,
KT (24:38):
Janeth said, Suze, I'm 60 years old. I'd like to
know if it's a good idea to take money out
of my 401k and pay off the balance on the
apartment where I live. The HOA fees are high, and
I haven't been able to sell it. My mother lives
with me. She has dementia.
And I am on my own. My annual salary is $55,000. Hmm.
(25:03):
And she said, thank you. So she's asking...
Suze (25:05):
How old is she?
KT (25:06):
60, and her...
Suze (25:07):
Do you think she's still working?
Yeah, she said her annual salary is $55,000.
I'm not listening very good this morning.
KT (25:13):
No.
Suze (25:14):
That's because I have water in my left ear.
KT (25:16):
You do?
Suze (25:17):
Wanna hear it squeak if I blow my nose?
KT (25:19):
No, it squeaks real loud when she does that I
don't like that.
Suze (25:24):
Does it irritate you?
KT (25:26):
Well, no, it seems like something's wrong that this water
is stuck in there.
Suze (25:30):
Well, who, who goes in the pool on the ocean
all the time?
KT (25:33):
You do.
Suze (25:34):
All right, anyway, so Janeth, here's the thing, KT pop quizzy.
KT (25:43):
Should she, should she do what?
Suze (25:46):
What are you talking about? Should she do what? You
just read this to me. See, she already went on to...
KT (25:52):
She said takes money out what she.
No, don't take money out of the 401k. First of all,
when she takes it out, number one, she has to
pay taxes on it. So if she's 60... wait, 59 and
a half, she doesn't have to pay...
Suze (26:04):
A penalty.
KT (26:05):
A penalty, but she still has to pay on it. Second, um,
that's her security blanket.
I think that she should just aggressively try to sell
the apartment and downsize or do something. Do not touch
the 401k. Yeah, no way. Don't touch it.
Suze (26:24):
But here's what I'd like you to think about.
If you need to sell something, and you're desperate enough
to think about taking money out of your 401k and
you do not tell me how much you have in
your 401k and what the balance is on your apartment,
do you all get the idea, I
(26:44):
cannot answer these questions for you if you don't give
me the facts, and that doesn't mean it has to
be a three page essay. It could have been, should
I take money out of my 401k that has $500,000
in it to pay off the balance on the apartment
where I live? That's all it needed to be because
you're saying since the HOA fees are high, that's kind
(27:06):
of why you wanna sell. If you took the money
out of your 401k,
think about how much money you would lose in taxes,
all right? Number one.
Number two, since you're willing to lose that money in
taxes from your 401k, why don't you reduce the price
of your apartment by that amount of money, since you
(27:27):
were willing to lose it anyway, to get somebody to
buy it because you're lowering the price.
Do you understand what I'm saying to you? If you
can't sell it, it means it's priced too high. If
you need to sell it and you're willing to take
money out of a 401k, lower the price until somebody
buys it, period. All right, KT.
KT (27:49):
Yeah, don't touch the 401. OK. This is from Catherine.
This is my final question. She said, my dad put
a million dollars in an IRA from me back in 1987.
Before he remarried, ready? In the last six years, my
brother said he took out my money and gave it
(28:11):
to him. My brother hasn't worked in six years and
has received at least $150,000 a year from my dad.
He's lost all of it.
My dad, who is 90 years old, said to us
that my brother and I will get nothing when he
dies because money doesn't create happiness. Hmm. Sounds a little sad, right?
(28:35):
He can do anything he wants with his money. He
worked hard for every cent, but I'd like to hear
an honest explanation as to why he took care of
one child and not the other.
So Catherine's feeling pretty sad over this. In 1987, you
would think that a million dollars would have really grown
(28:55):
a lot, and the brother only in the last six
years has been taking money out.
Suze (29:03):
So, the father probably opened up an IRA in the
father's name. He did a transfer, $1 million.
And made Catherine, the daughter, the beneficiary.
Somewhere in there, however, it doesn't matter who the beneficiary is,
that only comes to play upon death. For some reason,
(29:26):
the father was taking out money every year or however
many times he did it that Catherine may or may
not even know about it until all the money was depleted.
Now we don't know how the money was invested.
And maybe even years later, it was only worth a
million dollars. Maybe he just put it in an account
(29:48):
that wasn't earning any interest, who knows? So, if you
think about it, KT, OK.
150,000 a year over six years is like 900,000. So
he may have used up all of it, who knows
what happened to the rest of it, but...
The only way to solve this is for Catherine, for
(30:09):
you to stand in your truth.
Not why did he favor one child over another.
Why... not any of that. Just sit down with your
dad and say, Dad, listen, I know it's your money.
You worked hard for it, and you can do anything
you want with it.
But why? I just need to know why.
(30:32):
You gave at least $900,000 to my brother.
You told me that you were opening up this account
for me, this $1 million IRA for me.
And now you tell us neither of us are going
to get anything even though my brother got 900,000 of
(30:53):
what supposedly you told me was mine. I understand that
money doesn't create happiness, but it sure does create security.
So can you just tell me why, so I can
understand this.
KT (31:08):
Also, the father's very wealthy, Suze.
Suze (31:12):
I know he has approximately $9 million.
KT (31:15):
And this is 40 years ago. It had to have
earned some money.
Suze (31:19):
We don't know. We don't know anything, but here's the point, Catherine.
I have no idea. KT has no idea. You have
no idea, but you do know that you have a need.
To talk to your father about it and you say,
is it my business, in this email. The reason that
(31:41):
it's your business is because it's bothering you and when
you hold something in, it's going to eat at you.
It's going to eat at your relationship with your father.
It's going to eat at your relationship with your brother.
It's going to eat at you, especially if you're not
doing well financially.
(32:01):
So if I were you, you have absolutely nothing to
lose and everything to gain and say, Dad, can we
just sit down, the two of us and talk? I
really need to talk to you. Could you please do
that with me? And sit down in a not in
an accusing way, in an attacking way, but speak to
(32:23):
him directly from your heart and speak with such love
for him.
Speak with him with such respect for him.
Speak with him with the intention of you truly understanding
all of this, not that you're going to get a
million dollars, but you just want the truth.
(32:46):
And you'll come out fine.
And after you've done that, can you just write me
and let me tell, tell me what happened. All right, KT.
KT (32:56):
That's a wrap, Suze.
Suze (32:58):
What are we gonna do now?
You have plans. I can tell you. I know what
you want to do today. Tell them what you wanna
do today.
KT (33:05):
This week, the only opportunity is this afternoon I can
try to catch some yellow eye or yellow tail.
Suze (33:12):
KT, believe it or not, everybody is out of fish.
She has no fish to eat. I personally don't like
eating fish. I'm like...
KT (33:20):
Suze's not a big fish lover.
Suze (33:22):
Yeah, baby, we don't have to eat fish. Yeah, baby!
KT (33:25):
It's the healthiest, most delicious food.
We can, we can catch.
Suze (33:30):
You can catch, right? Actually, KT, you know, when I
woke up this morning, I looked out the window, I went, ugh.
Why do you think I did that?
KT (33:38):
Because it was nice.
Suze (33:40):
It was nice. And as much as I love when
she goes fishing, I love it so much more when
you just stay around here.
KT (33:46):
I can stay with you today if you like.
Suze (33:49):
And not fish.
KT (33:50):
Yeah, if that's your wish, I will grant your wish.
What do you think, everyone? Should I try to catch
a fish or grant her wish?
Suze (33:58):
Now, here is a perfect example of two of us disagreeing,
kind of.
Right, on whatever, but I'm gonna switch my vote from
no to yes because number one, doesn't really cost anything
to do what you're gonna do. It's gonna save money
eventually on fish because otherwise you're gonna end up having
to buy it when we go back to Florida, um,
and so go for it, girlfriend.
KT (34:20):
Yay, woohoo.
Suze (34:21):
All right, everybody, until next time there's only one thing
we want them to remember, and it's what fish first.
Fish first, then people, then money, then things, right KT?
KT (34:32):
And you stay safe.
Suze (34:34):
Talk to you soon. Bye bye.
December 11th, 2025. Welcome everybody to the Women and Money
podcast and what KT?
KT (00:12):
And everyone's smart enough to listen.
Suze (00:16):
And if they don't listen, does that mean they're not
smart enough? Yes.
This is the Ask KT and Suze Anything edition. If
you have a question, write into Ask Suze, S U
Z E podcast at gmail.com. And if KT chooses it, oh,
we will answer it on this podcast. All right.
(00:40):
Should we just get into it?
KT (00:41):
Let's get right into it. My first question is from Susan,
and she said, Hi, Suze and KT. My father, who
is 75, watches these people on Facebook, and they told
him that he could get a life insurance policy and
borrow against it.
That he can put the stocks into a trust and
(01:01):
borrow against them as well for a house. I think
it's a scam. What are your thoughts on this?
Suze (01:07):
It's not a scam, Susan. It's absolutely just stupid. How
is it possible that your father at 75
is not intelligent enough to know not to listen to
somebody on Facebook that he knows nothing about. Why are
they telling him this? It's just stupid. OK. First of all,
when you see that you can borrow against something.
(01:30):
What does that say to you? It says that you've
put your money somewhere and now you're going to borrow
against it, which means you're going to have to pay
an interest rate to use your own money. Are you
kidding me? It just makes no sense whatsoever. I'm very,
very familiar with these policies, and my advice to your
(01:50):
father would be stay away, stay away, stay away. Next,
anybody can put money
into an investment account, whether it's in trust or individual name,
and qualify for something called margin, and margin is where
you have these stocks, and you can borrow against them
to do anything you want, but then once again, it's
(02:12):
not free. You have to pay the brokerage firm the
money to borrow against the stocks and
if the stocks that you borrowed the money from start
to go down significantly, there's something called a margin call.
And if your father doesn't have the money to absolutely
pay that call, what does that mean? They will liquidate
the stocks that he has, and he could possibly lose
(02:34):
most of his money, if not all of it. It's
not a scam. It is stupidity, all right.
KT (02:43):
I think that's great. Not a scam. It's just stupid.
Suze (02:47):
Well, you know, all these people...
KT (02:48):
I think that was just all you had to say.
Suze (02:50):
Yeah, when you see the word
borrow when you see the word that you can do
something with your stocks and borrow against them twice now,
twice in this email you read me the word borrow.
Just think about what the word borrow means and if
you have the money, why would you borrow your own money?
(03:11):
All right. All right.
KT (03:12):
Next question is from Marie. She said, first...
Suze (03:16):
What a way to start off the morning.
KT (03:17):
I know. I'm sorry.
Suze (03:19):
You did that on purpose.
KT (03:20):
No, I didn't. I like to rile you up, but
it woke you up. That's for sure. OK. Next question
from Marie. She said, first, thank you so much for
an excellent podcast. I've learned so much from both of you.
She said first time question submitter, this situation is a
real conundrum. Sadly, my sister passed away recently. She named
(03:43):
my elderly father as the beneficiary for her quite large 403b.
What's the best way to handle the funds to avoid, ready?
Avoid ordinary income taxes.
Suze (03:58):
Listen, Marie.
Sometimes, obviously, you want to avoid income taxes if you can.
However, whenever it comes to a retirement account, there's only
one way to avoid income taxes, which I have been
preaching from the mountain top now for over like 20
or 30 years, however long it's been really, and that
(04:22):
is what? By doing a Roth IRA, a Roth 403B,
a Roth 401k, a Roth TSP.
That is why I've been saying it. Once your money
is in a traditional 403B, meaning pre-tax account,
and the owner, your sister, dies and it now goes
(04:45):
to your father. It is now in an inherited retirement
account and there is absolutely no way to avoid taxes
on it. However, stop thinking about the taxes that he's
going to owe. Start thinking about how much money is
in there.
And how he will take it out. I don't know
(05:06):
how old he actually is, but he will either have
to take it out according to how old your sister
was when she died, all of that, but something is
always better than nothing.
And if you approach this as, I want to just
give the money away so he doesn't have to pay taxes,
what can I do? What can I do? You're gonna
get yourself in trouble. And just know that it is
(05:28):
possible that when your father dies, maybe you then get
that money because he gets to name who
he wants as a beneficiary on this inherited IRA. So
stop worrying about taxes. There is no way around them.
All right, go on.
KT (05:46):
OK, this is sweet. Suze from Rosie.
Suze (05:48):
However, I just have to say one thing. He's not
going to take all of this money out at one time.
So don't be freaked that all of a sudden he
got a lot of money and he's gonna take it
out at one time. He's not, OK. It's gonna take
out little by little, but probably it's gonna have to
be wiped clean within 10 years. It just depends on age.
All right, go on.
KT (06:08):
Suze. This next...
Suze (06:08):
Are you sure I'm done with that question?
KT (06:10):
Yeah, 10 years, Suze. This, this next, this next question
is from Rosie, and it's very sweet.
She said, I was born in 1941, so currently I
am 84 years old.
Suze (06:23):
Me too. 10 years later.
KT (06:26):
I do not have a great deal of money. However,
in total, I have over $100,000 in savings and CDs.
I think that's a great deal of money, Rosie.
Suze (06:37):
That's a great deal of money for most people.
KT (06:38):
And then she said, Does it make sense for me
to convert any of the savings to a Roth?
And then Rosie gives you an explanation as why she's asking.
She said, my family is long lived with my mother
living to 101 years old.
Suze (06:54):
See, Rosie, here's the problem. If this money right now
is just in a savings account, $100,000 in savings and CDs,
you can't convert any of that to a savings Roth.
Unless you are currently working and you have earned income
and then you're not converting it, you're just opening up
(07:16):
a contributory Roth and putting some of this money in it,
but I got news for you. It really doesn't make
any sense to do that if it's all in savings
and chances are that you're living off of the interest
on that savings and everything. No, it does not make
sense for you to do that. And in fact you cannot, OK.
(07:38):
KT, you can only convert you money.
KT (07:41):
If you are working.
Suze (07:41):
No, no, you can only convert money to a Roth
if you have it in a traditional retirement account. Then
you convert it. If it's not in a Roth to
begin with, you're not converting anything. You're opening up a new,
a new one, and you have to have earned income
to do so. And at 84, for some reason, I
have a feeling.
(08:02):
She might not have income, but anyway, go on.
KT (08:04):
OK. Next is from James. We have a man smart
enough to listen. Yay, Suze, I know you want everybody
to have a Roth IRA account, including myself, and I
want one, but do you want us to take a
low-risk IRA out or an aggressive one?
I don't know the difference between the two.
Suze (08:24):
Well, one is investing your money, risky, maybe.
KT (08:27):
He said, I don't know what the best option should be.
Suze (08:29):
It's KT, low risk would be treasuries, CDs, money market accounts, maybe even...
KT (08:36):
Aggressive is higher.
Suze (08:38):
It's higher return and higher risk. James, can we just
talk for a second? How do you expect me to
answer that question? And I want everybody to listen to
this answer.
I know nothing about you. I don't know your age.
I don't know how much we're really talking about. I
don't know how secure your job is. I don't know
(08:58):
your health. I don't know your emotion quotient, which means
you put in $5,000 and you lose it. Are you're
going to want to commit financial suicide? Some people can't
afford and don't want to emotionally lose even $10. So
how can I answer that question? I cannot. So therefore...
I can't answer that question. Go on, KT.
KT (09:21):
But he is smart enough to listen.
Suze (09:23):
Smart enough to listen. But James, if you've been listening
now for a while, you would know that, you know.
But just assuming that you don't know a lot about
the stock market because you must not even to ask
that question.
If you're still relatively young, you have at least 5, 10, 15,
20 years till you need the money and you don't
know what to do. Why don't you just dollar cost
(09:45):
average every month in a Roth IRA in a Standard
and Poor's 500 index fund?
KT (09:51):
There you go, James.
Suze (09:53):
Actually an ETF. All right,
KT (09:54):
All right, there you go, James. This is from Sarah.
She said, My husband and I are 60 and 63.
He is retired, and I will be soon.
We are very well suited financially. We have always lived
within our means and continue to do so and enjoy
a retirement of purposeful travel, fitness, and continuing
(10:15):
education.
Suze (10:15):
Don't you find this is an interesting way to start
a question? What, what, where's she going? Where's she going?
KT (10:20):
OK, ready. Here's where she's going. My husband loves cars.
Are you ready?
He'd like to purchase a car that I feel is
too expensive.
It will cost about $90,000.
Is that, um, is that one of those, um...
Suze (10:37):
I don't know what kind it is, KT.
KT (10:39):
Which I personally feel is ridiculous
Suze (10:41):
Don't become like James now.
KT (10:43):
All right, wait, so Sarah said, I feel, I personally
feel this is a ridiculous price to pay for a vehicle.
He's a car guy and ready, Suze? Her husband says
cars give him pleasure.
Suze (10:55):
Now how old is he?
KT (10:57):
Well, 60 and 63, so I think he's 60. She's
a little older and wiser. This is...
This is a big argument between us.
Suze (11:05):
Does it say he just turned 60 like he's in
his sixties?
KT (11:08):
It says my husband and I are 60 and 63.
He's retired. He's retired.
Suze (11:14):
So he's 60, right? All right.
KT (11:17):
She's 63, a little wiser. Ready? It's a big argument
between us. At a minimum, I'd like him to buy
a car that is two or three years old.
She said, yes, I know we have the money for this,
but it doesn't fit with my values. So, is this
a money solution or a value solution? What do you think, Suze?
Suze (11:40):
Sarah, in my opinion, your husband is going through something
that I call the dollar of the decades.
It's almost as if men, not women, but when men
turn a decade, 50, 60, 70, those ages, for some
reason they wanna buy a boy toy. They wanna impress
(12:01):
other people at a stop sign and say, look at
what I have, especially if they have retired. It's a
very fascinating thing.
And I have a feeling that's what he's going through,
and you say that he always loves cars.
Well, think about that. KT and I are very, very
(12:23):
wealthy women, and I love cars, but it would not
matter how wealthy we are. No way would I ever
spend $90,000 on a car.
KT (12:35):
Tell them what you drive.
Suze (12:37):
I drive a 2012 Mercedes convertible that's worth now maybe
$10,000 or less at this point in time.
We only have 50,000, 60,000 miles on it.
KT (12:51):
53,000.
Suze (12:52):
All right, but it's, oh, now you know numbers.
KT (12:54):
Because I'm, I'm the driver.
Suze (12:56):
Anyway, but it's like what a waste of money in
my opinion. However, it's something that he wants, and with
KT before either of us spend a large sum of
money or wanna buy something, both of us have to
be in agreement because it's both of our money.
(13:18):
And this is both of your money, and I always
go with the one that doesn't want to do something.
If KT doesn't wanna do it, and I really wanna
do it, we do not do it, cause you are
gonna be a little bit resentful the whole time. But
here's how I would deal with it if I were you.
(13:39):
You have to sit down with him and you have
to say, can we just seriously figure out what this
car is actually going to cost us because Sarah, it's
not just $90,000. There's gonna be tax on it, there's
gonna be all kinds of things on it, but just
let's say it was $90,000 including tax.
(14:01):
But that's not where it ends. When you own a
$90,000 car, you have automobile insurance. So you're looking at,
at least, depending on his record, everything else, even his
FICO score, believe it or not, $4,000 to $6,000 a
year in insurance. You're looking at maintenance on a car
(14:22):
like that.
And maintenance could easily be $2,500, $1,500 a year. You're
looking at depreciation, by the way, of anywhere between $9,000
and $12,000. Actually, it could be more like $18,000 the
second he drives it off the lot. Just saying so,
he lost that money right there. Fuel for the car.
(14:46):
$90,000 cars unless it's electric, and I somehow I have
a feeling it's not. It's gonna be at least, depending
on price of fuel, $2,500 - $3,000 and then registration
and all of these things. So you're looking at least
besides the $90,000, $8,500 to $10,000 a year just to
(15:08):
have that car, OK.
Now let's do the math on the real cost of
this car because he's just looking at $90,000. The way
that I would do it is I would say, OK,
what is $90,000 deposited into an account right now? Let's
just say that's true, and you add $8,500 a year
(15:30):
for five years. What is the cost of that car
over five years? And let's just say that money was
able to make a 7%
annual average rate of return, you're looking at about $175,000
for the cost of that car and and in five years,
if he wanted to sell it.
Good luck if he gets more than $38,000 to $45,000.
(15:54):
So he now is making an investment as you are
entering your retirement years, and he is no longer working,
and he is looking at how much money you have,
and he thinks that he can just do this. He
has to understand the financial ramifications of making a purchase
like this. You never look, everybody, at just what something
(16:17):
costs you to buy.
You have to look at what does it cost you
to keep, right, KT?
KT (16:24):
Absolutely. You know what I would do?
Suze (16:26):
What would you do?
KT (16:27):
If I were her? I would, because they have all
of these very special like fancy car, you know, loan
places or renting places. I would rent one for a week,
see if he gets it out of his
system.
Suze (16:39):
Now, what I would do is rather than buying it
right away.
There's always going to be a $90,000 car that he
can buy.
And given that Sarah does not want to do it,
it's going to cause problems between them. It just is.
I just have to ask you this question. If it
was me, what would you say?
KT (17:01):
Seriously, at your age and with the amount of money
you have, Suze, if that car makes you happy, buy it,
but I'm not gonna drive it.
Suze (17:14):
Oh, then I would never buy it.
Yeah, it's at this time in your life, everything you
do with money, both of you have to say yes,
and if you don't,
and it really upsets you. I'm sorry, I would just
say no.
Now, maybe he wants to buy a car that's two
(17:34):
or three years old and you could compromise somehow like that.
KT (17:38):
Yeah, meet him in the middle.
Suze (17:38):
Meet him in the middle, but...
KT (17:40):
And say to him, let's sit down and look at
the expenses because Susie just laid it out for you
and Sarah say, Let's, let's meet in the middle. Let's
compromise because I want you to be happy, but I
also want you to respect my values.
Suze (17:55):
Yeah, but the truth is, I'm telling you, it's the
dollar of the decades, 60, uh-huh, OK.
I tell you, a car is such an... I, I
know we're going on,
KT (18:08):
Yeah, because Suze's a car person, Sarah. I'm not at all.
I don't care what wheels you put under me, but
she loves cars. She likes to go. She likes to
go to the showrooms and walk around and look, and
she knows everything about cars.
She's been looking at me for probably the past six
(18:28):
years saying maybe we need to think about what our
next car will be since this one's so old, but
she loves this little Mercedes.
Suze (18:36):
I can't do it. I just can't waste money like that.
I just can't do it. It goes against my own values.
But KT, what I was gonna say to you and
everybody else, please understand that a car is actually one
of the most dangerous investments you can make.
Because all it takes is somebody smashing into you, somebody
(18:58):
cracking your windows, somebody stealing it. It is not an investment.
It's simply a showoff toy for others if you ask me.
KT (19:09):
Well, that may be that kind of vehicle. Most cars
are for you to use to get to work, or travel.
Suze (19:15):
He's retired. He doesn't need a $90,000 car.
But hey, what do I know? All right.
KT (19:19):
This next question is from Debbie. She said, Dear KT,
she said, I'm listing your name first, so you hopefully
you'll pick me, and I did, Debbie. You were right.
She said, Dear KT and Suze, if you are single,
should the primary beneficiary on an employer retirement account be
the same as the name of the trust, or is
(19:41):
it best to name a designated beneficiary instead?
She said, I'm desperate for an answer from you.
Suze (19:48):
If you're desperate, if you're desperate, Debbie,
let me see if I can help you here. Oh
my God, my desperate one. Here comes your financial lifesaver
to rescue you.
Just put it in your individual name since I don't
know what kind of trust you have, and it has
to be a see-through trust and everything like that, if
it's a beneficiary of any retirement account, since you're single, right,
(20:12):
the beneficiary should be the name of whoever you want
to leave
this too, all right. And if you're married, it should
absolutely be the name of your spouse, by the way,
for those of you who are married, the contingent beneficiary,
if you know it's a see-through trust, can be a trust.
All right.
KT (20:32):
OK. My next question is from Carla. I love this question.
She said, I'll be turning 65 in August of 2026.
I'm still working full time with no plans to retire
anytime soon.
I have good medical, dental, vision, and prescription drug benefits.
Do I still need to enroll in Medicare? If so,
(20:55):
what parts? I love this question.
Suze (20:58):
How old is she?
KT (20:59):
She's 64 today, but in August next year.
Suze (21:02):
Yes, I hear that. But...
KT (21:03):
She'll turn 65.
Suze (21:04):
But how long does she plan to work?
KT (21:07):
She plans to not retire anytime soon.
Suze (21:09):
She didn't give a time frame for that. All right, let,
let me just see this for a second.
KT (21:15):
Can I just say something? I couldn't wait to turn 65
to get Medicare benefits.
Suze (21:19):
But you weren't working for a corporation that already gives
you health insurance, Miss Travis.
KT (21:25):
OK.
Suze (21:26):
Right. So, I'm so glad we were happy to do so,
but we didn't work for anybody but ourselves. So, my
dear Carla, here's what it depends on two key facts,
all right. Number one:
How many employees does your employer have? KT's looking at me.
KT (21:44):
With question, like why?
Suze (21:45):
KT this question and answer is so critical. I can't
even tell you because if her employer has 20 or
more employees, then your employer plan, her employer plan has
to remain as primary.
And she does not need Medicare B or D at 65.
(22:06):
She doesn't need those at all. She can and she
should delay both with no penalty because it's B and
D that can be expensive. However, if her employer KT
has fewer than 20 employees, then Medicare becomes her primary.
And her employer plan becomes secondary. So in this case,
(22:29):
my dear Carla, you must enroll in Part A and
Part B at 65 or you risk
being able to have any claims that are absolutely approved,
like all these kinds of things, so you have to
first confirm your employer size, and I can tell you
to do so just call your HR department and ask them.
(22:51):
And the question becomes should she enroll in Medicare A
at 65 and she enrolls only in Part A if
it is free, and she has to figure that out.
So if she's worked for 10 years, 40 quarters, da
da da, she'll be able to do it. But if
she has an HSA account, a health savings account, and
(23:17):
she's contributing to it, if she enrolls in Medicare Part A,
she won't be able to have a health savings account.
So she has to know that because it will immediately
disqualify her from it. So, Carla, if you are contributing
to an HSA.
Then delay Part A until you stop contributing. If no,
(23:39):
enroll in Part A at 65, again, only if it's free.
All right, so there you go. I just told her
what she needs. That's it. It's not that simple, believe
it or not. You thought that was a simple question, didn't you?
KT (23:53):
I did.
Suze (23:54):
What did you think I was gonna say?
KT (23:58):
Take it like I did. I couldn't because I, I
got so excited that I didn't have to pay all
those medical bills.
Suze (24:04):
Yeah, but I can tell you one thing. Always go
for Medicare. Always, always, always be very, very careful of
Medicare Advantage. Warning, warning...
KT (24:17):
warning, warning.
Suze (24:19):
All right,
KT (24:20):
Suze, my next question is from Janeth.
Suze (24:23):
What kind of name is that?
KT (24:24):
Janeth. It's Janeth. It's not Janice, it's Janeth.
Suze (24:29):
I'm wonder why they named her that.
KT (24:31):
Probably someone Jane and Beth - Janeth, like maybe two
names together.
Suze (24:37):
Only you would come up with that,
KT (24:38):
Janeth said, Suze, I'm 60 years old. I'd like to
know if it's a good idea to take money out
of my 401k and pay off the balance on the
apartment where I live. The HOA fees are high, and
I haven't been able to sell it. My mother lives
with me. She has dementia.
And I am on my own. My annual salary is $55,000. Hmm.
(25:03):
And she said, thank you. So she's asking...
Suze (25:05):
How old is she?
KT (25:06):
60, and her...
Suze (25:07):
Do you think she's still working?
Yeah, she said her annual salary is $55,000.
I'm not listening very good this morning.
KT (25:13):
No.
Suze (25:14):
That's because I have water in my left ear.
KT (25:16):
You do?
Suze (25:17):
Wanna hear it squeak if I blow my nose?
KT (25:19):
No, it squeaks real loud when she does that I
don't like that.
Suze (25:24):
Does it irritate you?
KT (25:26):
Well, no, it seems like something's wrong that this water
is stuck in there.
Suze (25:30):
Well, who, who goes in the pool on the ocean
all the time?
KT (25:33):
You do.
Suze (25:34):
All right, anyway, so Janeth, here's the thing, KT pop quizzy.
KT (25:43):
Should she, should she do what?
Suze (25:46):
What are you talking about? Should she do what? You
just read this to me. See, she already went on to...
KT (25:52):
She said takes money out what she.
No, don't take money out of the 401k. First of all,
when she takes it out, number one, she has to
pay taxes on it. So if she's 60... wait, 59 and
a half, she doesn't have to pay...
Suze (26:04):
A penalty.
KT (26:05):
A penalty, but she still has to pay on it. Second, um,
that's her security blanket.
I think that she should just aggressively try to sell
the apartment and downsize or do something. Do not touch
the 401k. Yeah, no way. Don't touch it.
Suze (26:24):
But here's what I'd like you to think about.
If you need to sell something, and you're desperate enough
to think about taking money out of your 401k and
you do not tell me how much you have in
your 401k and what the balance is on your apartment,
do you all get the idea, I
(26:44):
cannot answer these questions for you if you don't give
me the facts, and that doesn't mean it has to
be a three page essay. It could have been, should
I take money out of my 401k that has $500,000
in it to pay off the balance on the apartment
where I live? That's all it needed to be because
you're saying since the HOA fees are high, that's kind
(27:06):
of why you wanna sell. If you took the money
out of your 401k,
think about how much money you would lose in taxes,
all right? Number one.
Number two, since you're willing to lose that money in
taxes from your 401k, why don't you reduce the price
of your apartment by that amount of money, since you
(27:27):
were willing to lose it anyway, to get somebody to
buy it because you're lowering the price.
Do you understand what I'm saying to you? If you
can't sell it, it means it's priced too high. If
you need to sell it and you're willing to take
money out of a 401k, lower the price until somebody
buys it, period. All right, KT.
KT (27:49):
Yeah, don't touch the 401. OK. This is from Catherine.
This is my final question. She said, my dad put
a million dollars in an IRA from me back in 1987.
Before he remarried, ready? In the last six years, my
brother said he took out my money and gave it
(28:11):
to him. My brother hasn't worked in six years and
has received at least $150,000 a year from my dad.
He's lost all of it.
My dad, who is 90 years old, said to us
that my brother and I will get nothing when he
dies because money doesn't create happiness. Hmm. Sounds a little sad, right?
(28:35):
He can do anything he wants with his money. He
worked hard for every cent, but I'd like to hear
an honest explanation as to why he took care of
one child and not the other.
So Catherine's feeling pretty sad over this. In 1987, you
would think that a million dollars would have really grown
(28:55):
a lot, and the brother only in the last six
years has been taking money out.
Suze (29:03):
So, the father probably opened up an IRA in the
father's name. He did a transfer, $1 million.
And made Catherine, the daughter, the beneficiary.
Somewhere in there, however, it doesn't matter who the beneficiary is,
that only comes to play upon death. For some reason,
(29:26):
the father was taking out money every year or however
many times he did it that Catherine may or may
not even know about it until all the money was depleted.
Now we don't know how the money was invested.
And maybe even years later, it was only worth a
million dollars. Maybe he just put it in an account
(29:48):
that wasn't earning any interest, who knows? So, if you
think about it, KT, OK.
150,000 a year over six years is like 900,000. So
he may have used up all of it, who knows
what happened to the rest of it, but...
The only way to solve this is for Catherine, for
(30:09):
you to stand in your truth.
Not why did he favor one child over another.
Why... not any of that. Just sit down with your
dad and say, Dad, listen, I know it's your money.
You worked hard for it, and you can do anything
you want with it.
But why? I just need to know why.
(30:32):
You gave at least $900,000 to my brother.
You told me that you were opening up this account
for me, this $1 million IRA for me.
And now you tell us neither of us are going
to get anything even though my brother got 900,000 of
(30:53):
what supposedly you told me was mine. I understand that
money doesn't create happiness, but it sure does create security.
So can you just tell me why, so I can
understand this.
KT (31:08):
Also, the father's very wealthy, Suze.
Suze (31:12):
I know he has approximately $9 million.
KT (31:15):
And this is 40 years ago. It had to have
earned some money.
Suze (31:19):
We don't know. We don't know anything, but here's the point, Catherine.
I have no idea. KT has no idea. You have
no idea, but you do know that you have a need.
To talk to your father about it and you say,
is it my business, in this email. The reason that
(31:41):
it's your business is because it's bothering you and when
you hold something in, it's going to eat at you.
It's going to eat at your relationship with your father.
It's going to eat at your relationship with your brother.
It's going to eat at you, especially if you're not
doing well financially.
(32:01):
So if I were you, you have absolutely nothing to
lose and everything to gain and say, Dad, can we
just sit down, the two of us and talk? I
really need to talk to you. Could you please do
that with me? And sit down in a not in
an accusing way, in an attacking way, but speak to
(32:23):
him directly from your heart and speak with such love
for him.
Speak with him with such respect for him.
Speak with him with the intention of you truly understanding
all of this, not that you're going to get a
million dollars, but you just want the truth.
(32:46):
And you'll come out fine.
And after you've done that, can you just write me
and let me tell, tell me what happened. All right, KT.
KT (32:56):
That's a wrap, Suze.
Suze (32:58):
What are we gonna do now?
You have plans. I can tell you. I know what
you want to do today. Tell them what you wanna
do today.
KT (33:05):
This week, the only opportunity is this afternoon I can
try to catch some yellow eye or yellow tail.
Suze (33:12):
KT, believe it or not, everybody is out of fish.
She has no fish to eat. I personally don't like
eating fish. I'm like...
KT (33:20):
Suze's not a big fish lover.
Suze (33:22):
Yeah, baby, we don't have to eat fish. Yeah, baby!
KT (33:25):
It's the healthiest, most delicious food.
We can, we can catch.
Suze (33:30):
You can catch, right? Actually, KT, you know, when I
woke up this morning, I looked out the window, I went, ugh.
Why do you think I did that?
KT (33:38):
Because it was nice.
Suze (33:40):
It was nice. And as much as I love when
she goes fishing, I love it so much more when
you just stay around here.
KT (33:46):
I can stay with you today if you like.
Suze (33:49):
And not fish.
KT (33:50):
Yeah, if that's your wish, I will grant your wish.
What do you think, everyone? Should I try to catch
a fish or grant her wish?
Suze (33:58):
Now, here is a perfect example of two of us disagreeing,
kind of.
Right, on whatever, but I'm gonna switch my vote from
no to yes because number one, doesn't really cost anything
to do what you're gonna do. It's gonna save money
eventually on fish because otherwise you're gonna end up having
to buy it when we go back to Florida, um,
and so go for it, girlfriend.
KT (34:20):
Yay, woohoo.
Suze (34:21):
All right, everybody, until next time there's only one thing
we want them to remember, and it's what fish first.
Fish first, then people, then money, then things, right KT?
KT (34:32):
And you stay safe.
Suze (34:34):
Talk to you soon. Bye bye.
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