Ask Suze Anything: July 2, 2020

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

Suze Orman Media

Investing, Business

4.8 • 4.2K Ratings

🗓️ 2 July 2020

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this edition of Ask Suze Anything, Suze answers questions from Women & Money listeners Joann, Riley, Mary, Joelle, Gary, Eileen, Tonya, and many PPP recipients.

They ask:

Is it worthwhile to refinance a home I bought seven months ago?
What is your opinion on doing a cash-out refinance to pay off credit cards and tax debt?
Will I lose the money I have in municipal bonds due to the economic shutdown?
Should I dip into my savings account to pay down my HELOC?
How should I go about diversifying my stock portfolio?
Now that the PPP has been extended, can my employees keep collecting unemployment before I hire them back?
Can I take money I received from a lump sum pension payout and put it into a traditional 401k and then into a Roth the same day, without paying taxes?
Should we focus on building an eight-month emergency fund or pay down debt?

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Transcript

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0:00.0	Hey, everybody. I want you all to take advantage of the incredible interest rates that a
0:05.7	Lyon Credit Union is currently offering 4.5% for a three-month certificate, 4.75% for a six-month
0:15.2	certificate. But best of all, in my opinion, is 5% for a one-year certificate of deposit.
0:24.4	You can also purchase these in a retirement account. So go to myalientaliant.com slash
0:35.2	ultimate and check it out now.
0:41.7	So, you are in here and you are listening to the Women in Money Podcast.
0:54.4	We can't give up and no matter what, no one throws at us. We will rise above the liver life we love.
1:04.6	If we just believe it will set us free. We will rise above the liver life we love.
1:19.3	July 2nd, 2020.
1:22.7	Suzieu here and welcome to the Women in Money Podcast as well as the Men's Smart Enough to Listen.
1:30.4	So, today is Ask Suzie Anything. And this is where you can write in and ask a question and you do so
1:39.2	the Women in Money app. To get the Women in Money app, all you have to do is go to Apple Apps or Google Play,
1:47.9	search for Suziewerman and you will download it. And you can ask your question there.
1:54.8	And if chosen, I'll answer it on the podcast. However, I've noticed as I've been going through a lot
2:00.4	of these questions that many of them I have answered in one form or another in a previous podcast.
2:09.9	So why not just use the app and go to where it says Search Past Podcasts? And to do so, you just click
2:19.0	on it and then you put in the topic that you want to know about and up will come all the podcasts that
2:24.8	I've addressed the topic that you're interested in knowing about. You can also read it in transcript
2:32.3	form right there. So you might want to take advantage of that. All right everybody, let's start with
2:40.8	Jo Ann. She says I am 71 years old. Is it worthwhile to refinance a home I bought seven months ago?
2:50.7	Current interest rate is 4.125% for 30 years. Refineance rate is 2.75% for 15 years.
3:01.2	Total savings would be $86,000 over the life of the loan. Is this a wise move?
	...

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