Ask Suze (and KT) Anything: April 8, 2021

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

Suze Orman Media

Business, Investing

4.6 • 4K Ratings

🗓️ 8 April 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this edition of Ask Suze (and KT) Anything, Suze gives us an update on the new COBRA law and then answers questions from Women & Money listeners Amanda, Renee, Lauren, Patti, Sarah and Laura, selected and read by KT.

This week’s questions:

What is the financial benefit to getting married?
Is there a way I can have my animals provided for, in my will and trust?
I feel guilty that my boyfriend pays for things when I can’t, because I am starting my own business. What should I do?
Is my son allowed to have a traditional IRA in addition to his ROTH IRA?
Should my mother take $1,000 from her emergency fund to open a ROTH IRA?
Should I invest the money I saved from refinancing my home or use it to pay down my mortgage faster?

This week’s Quizzie (from Becky): Should I open more retirement accounts so I don’t lose any FDIC insurance for the accounts?

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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 8th 2021. You know what today is? It's asked Susie and KT. But Susie, I told her keep the school
1:23.3	short. But they don't even know that I'm doing. Yes, they do. I told everyone Sunday. Well, what if
1:29.2	they didn't listen to Sunday? Susie moved Sunday, Susie school to KT's Thursday asks Susie anything.
1:37.7	What you want me to move it again to the Sunday. No, but I have a lot of questions to get through.
1:43.0	And there are a few updates that I want people to know about. All right, so I'm actually going to
1:48.4	do a really short Susie school because I just want to make sure that all of you get this one thing
1:54.7	correctly. A little bit ago, maybe it was a week ago, maybe a little bit more than that. I was telling
2:00.4	all of you about how April 1st through September 30th was such an incredible period of time for those
2:10.1	of you who happen to be on Cobra. And what Cobra simply is for those of you who do not know is that
2:18.3	when you work for a corporation, you have insurance with them. And now you've been laid off, you've been
2:24.5	fired, something's happened. And but you happen to have a preexisting condition. So you don't think
2:30.6	you can get health insurance anywhere else. You always have the ability to buy health insurance
2:37.0	through your ex employer. But you have to pay 100% of the premium. And that health insurance will
2:44.7	last for 18 months, but very well could be 600, 700, 800 dollars a month. So when President Biden
2:53.5	signed into effect the American Rescue Plan Act, and we call it ARPA, it had a provision that was
3:00.8	so fabulous that if you are on Cobra, because you were involuntarily laid off, you were fired,
3:09.8	whatever it was, because of COVID, whatever it is, that through April 1st, 2021, and September 30th,
	...

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