Ask Suze Anything: November 7, 2019
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Orman Media
4.8 • 4.2K Ratings
🗓️ 7 November 2019
⏱️ 25 minutes
🧾️ Download transcript
Summary
In this rapid-fire Ask Suze Anything episode, we hear questions from Women & Money listeners Annun, Sonia, Annie, Nicole, Anonymous, Tara, Maureen, Justin, and Chelsea. They ask:
- What are your thoughts on gold and silver IRA’s?
- Should I wait until I am older than 62 to draw from my Social Security?
- I own the home my partner and I share. We are not married, so what is the best way for me to leave it to him, should I die?
- Should we take a loan against our 410(k) or get a loan to pay off our credit card debt?
- What do you do when the relative you co-signed a loan for, stops repaying it?
- Can I contribute the maximum amount to multiple IRAs and get my company to match each?
- What is the purpose of rebalancing my 403(b)?
- What are your thoughts on placing dividends from MLPs and REITs into IRAs?
- I’m getting a divorce, should my soon-to-be-ex and I pay off our credit cards in full and close them before we finalize the divorce?
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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. Suzy Orman here and you are listening to the Women in Money Podcast. |
| 0:55.0 | Welcome to another edition of Ask Suzy Anything. This is where you write in to ask Suzy, |
| 1:18.2 | s-u-z-e podcastedgmail.com. Your questions and if chosen, I will answer them on this podcast. Today, |
| 1:28.4 | I just want to do something a little bit different, which is kind of like rapid fire. How many questions |
| 1:35.5 | in about 25 minutes or so can I get through rather than into these long explanations or answers |
| 1:43.4 | to the questions that you normally write in? So I thought, let's just try that for today. |
| 1:49.9 | First one is from Anun. What are your thoughts on gold and silver IRAs? I'd like to roll over part |
| 1:58.0 | or all of an old 401k into a gold or silver IRA. Anun, you don't need a special IRA that's just |
| 2:08.2 | for gold or just for silver where it actually buys the physical metal. No. You can simply roll your |
| 2:16.0 | money over in to a traditional IRA or if you want to pay taxes on it into a Roth IRA and buy |
| 2:23.6 | exchange traded funds that invest in gold or silver. I think that is far better than owning the |
| 2:30.4 | precious metal itself because precious metals when you actually physically own the precious metal |
| 2:36.3 | and you want to sell it. It has to be assayed. All these things just keep your life simple. Next |
| 2:42.2 | question is from Sonia. I will be 62 next month, but from Social Security, I will only get about |
| 2:48.6 | $300 a month since I won't get that much. Is it best to wait till I can get more or just go ahead |
| 2:55.3 | and pull it out now? What are your suggestions? Listen, at $300 a month, $500 a month, |
| 3:03.6 | $1,000 a month, $1,500 a month. I don't care what the amount is. If you are healthy and you know |
| 3:11.3 | you're going to live a normal lifespan, which could be till 80, 90, 100 years of age, you always |
... |
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