Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Apr 3, 2025
This engaging discussion dives into the complexities of 529 plans and the intricacies of rolling funds into a Roth IRA. Current market trends and potential tariff impacts are also analyzed, helping listeners navigate financial volatility. The conversation highlights retirement choices, including the difference between lump sums and annuities and the implications of Social Security contributions on future benefits. Listeners gain insights on personalized strategies while exploring the emotional aspects of making financial decisions.
28:58
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Quick takeaways
- Establishing an emergency savings account is crucial for financial security, helping individuals manage unexpected events without incurring high-interest debt.
- Understanding the complexity of converting 529 plans to Roth IRAs is essential for maximizing savings and making informed retirement planning decisions.
Deep dives
The Importance of Emergency Savings
Building an emergency savings account is essential for financial security, as it serves as a safety net during unexpected life events. An emergency fund helps individuals manage financial uncertainties without resorting to high-interest debt. Participants in specific savings programs, like those offered by Alliant Credit Union, can enhance their financial foundation while earning interest on their savings. Establishing such accounts empowers individuals to face financial challenges with confidence.
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