Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: Who Would You Give Your Life For?
Aug 25, 2024
Peter, a recent widower, shares his poignant journey after losing his partner. His story highlights the importance of family involvement in finances and careful planning for unforeseen circumstances. Suze dives into critical questions about financial security and the role of children in future support. The conversation also touches on emotional challenges alongside practical financial advice, offering listeners relatable insights and actionable tips to safeguard their financial wellbeing.
29:28
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Quick takeaways
- Establishing an emergency savings account and a monthly savings plan is crucial for ensuring financial security after a partner's death.
- Open family discussions about finances, inheritance, and clear beneficiary designations are essential to prevent misunderstandings and emotional strain during difficult times.
Deep dives
Emergency Savings and Interest Rates
Establishing an emergency savings account is crucial for financial security, and opening an ultimate opportunity savings account with a regular deposit of $100 each month can yield both a $100 bonus and 3.10% interest. Recent updates from the Federal Reserve signal a potential decrease in interest rates, which will subsequently lower the rates on various financial products like credit cards and savings accounts. Investors are advised to consider long-term investment options, such as 30-year treasury bonds, instead of short-term alternatives to lock in higher interest rates before they drop. This strategy serves to safeguard investments and maximize returns before changes in the financial landscape take effect.
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