Ask Suze (and KT) Anything: April 29, 2021
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Orman Media
4.6 • 4K Ratings
🗓️ 29 April 2021
⏱️ 40 minutes
🧾️ Download transcript
Summary
On this edition of Ask Suze (and KT) Anything, Suze answers questions from Women & Money listeners Anthony, Nancy, Nina, Beth, Jasmine, Gayle, Shirley, Dan & Diane, Monica and Emily, selected and read by KT.
This week’s questions:
- If I rollover a ROTH 401(k) into a ROTH IRA a year before I retire, does that five year clock start again?
- Am I able to claim property left to me by my late husband (11 years ago) as an inheritance when I sell it?
- How can I take $100,000 I’ve saved and turn it into $5,000 a month of steady income?
- I only have joint bank accounts with my husband. Can I get my own credit card?
- We are financially solid and have no debt. Should we support our 13 year old son, who wants to be an artist?
- In what order should I withdraw from my retirement accounts?
- At 69 years of age, should I get rid of my five Term Life Insurance policies?
- Should I get an indexed annuity?
- How much do you think the Stock Market will drop next month?
- If a revocable trust inherits an IRA, does the trust have to pay taxes?
This week’s Quizzie from Olivia: I’m 64 with money in a T.A. non-stock fund and have a mortgage. What should I do to sustain my money?
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Transcript
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| 0:00.0 | Hi everybody, Susie O'Hare. And I just want to say how proud both KT and I are that once again |
| 0:07.6 | a Lyon Credit Union is supporting the Women and Money Podcast. I want all of you to go to my |
| 0:16.4 | alliance.com that's amy-al-l-i-a-n-t.com. And you will find their high interest rates on your savings |
| 0:26.7 | accounts. You're going to find that their CDs are offering great rates and we have a lot of |
| 0:32.4 | surprises for you this year. So be a member and be a member right now. |
| 1:02.4 | April 29th 2021. Can you believe we're almost in May? No, I can't believe the whole beginning |
| 1:19.2 | of 2021 has gone so fast because you know once we're in May we're in June. Then once we're in June |
| 1:25.1 | what does that mean? Susie's birthday. Alright she doesn't like to celebrate but it's a big one. |
| 1:30.4 | It's a big one coming up. Tell everyone how much fun you had on that webinar and what happened. |
| 1:37.2 | Oh I just love getting unindicated with responses from everyone excited about the 3-step recess. |
| 1:44.1 | Yes they are. It's kind of like a dance. Like a tic-tac-tic-tac. Anyway alright let's do this KT. |
| 1:49.7 | Alright you ready? Yeah. First question is from Anthony. High KT and Susie. Love your podcast |
| 1:57.9 | after watching you on TV for several years. I'm glad I found you again a couple of months ago |
| 2:04.2 | and I especially love hearing KT's voice. I had to start with that. So Anthony has a quick question |
| 2:11.1 | regarding Roth's. KT's favorite topic. If I have a Roth 401k and when I retire hopefully in the |
| 2:20.8 | next one to three years and I roll it over to a Roth IRA do I have to wait five years before I |
| 2:28.6 | can withdraw any of the money without a penalty or since this is a rollover does the five-year rule |
| 2:36.8 | start with the original account? No. If you have a 401k and you do a conversion it does not start |
| 2:45.4 | from the date that you opened up the Roth 401k it starts from the date that you converted but you |
| 2:51.8 | know this is so complicated truthfully KT. Let's do for Susie school. Susie school on the five-year |
| 2:59.9 | rule for Roth IRAs. I think it's really important that you understand how it works and the laws |
| 3:06.8 | and everything. So this Sunday make sure you tune in for a five-year Roth Susie school. I probably |
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