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

Ask KT & Suze Anything: What is the Key to Be Successful?

Sep 19, 2024

In this engaging conversation, financial expert Suze Orman shares her wealth of knowledge on achieving success and financial security. She discusses essential tips for saving for young children and how to manage debt effectively. The importance of understanding retirement accounts, particularly Roth IRAs, comes into play. Suze also emphasizes financial literacy, especially for those facing significant debt, and offers strategies for smart savings tailored for grandchildren. Her advice is both practical and empowering!

31:40

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Episode guests

Suze Orman

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Episode notes

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Quick takeaways

Consolidating multiple Roth IRA accounts can reduce fees significantly, allowing for more effective management of investments and greater returns.

Addressing financial fears and seeking education empowers individuals to improve their financial habits and make informed decisions about saving and investing.

Deep dives

Roth IRA Considerations

Having multiple Roth IRA accounts can complicate investment management, and it's often more beneficial to consolidate them into a single high-quality account. In the case of an individual named Nola, maintaining a $500 Roth IRA with a $200 fee was deemed impractical since the fee constituted nearly 50% of her investment. It's advisable to consider reputable investment platforms like Fidelity or Schwab, which typically offer lower fees and no minimum account balances. Understanding the percentage of fees in relation to account size is crucial in making informed financial decisions.

Intro

2min

Grooming Gossip & Roth IRA Realities

4min

Navigating Retirement Fears and Financial Partnerships

6min

Navigating Debt and Financial Education in Relationships

4min

Smart Savings Strategies for Grandchildren

2min

Navigating Financial Challenges

15min

On this edition of Ask KT and Suze Anything, Suze answers questions about what it means to be successful, saving for young children and getting out of debt. Plus, a quizzie about what you can put in a Roth and more!

Protect your financial future with the Must Have Docs: https://bit.ly/3Vq1V3G

Get your savings going with Alliant Credit Union: https://bit.ly/3rg0Yio

Get Suze’s special offers for podcast listeners at suzeorman.com/offer

Join Suze’s Women & Money Community for FREE and ASK SUZE your questions which may just end up on the podcast. Download the app by following one of these links:

CLICK HERE FOR APPLE: https://apple.co/2KcAHbH

CLICK HERE FOR GOOGLE PLAY: https://bit.ly/3curfMI

See omnystudio.com/listener for privacy information.

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