Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: How Do I Avoid a Hit to my FICO Score?
Jan 18, 2024
The podcast covers topics such as CD maturities, correcting mistakes, caregiving and more. The hosts also discuss a heartwarming Chicago reunion, flexible rate CDs, and the ideal time to convert a traditional IRA to a Roth IRA. They provide advice on whether to cancel an airline credit card and its impact on FICO score.
31:50
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Quick takeaways
- Parents' wishes should take precedence over siblings' concerns when compensating a family member for caregiving.
- When converting a traditional IRA to a Roth IRA, choose declining stocks for conversion and consult a tax professional for optimal strategy.
Deep dives
Caregiving and Compensation
A listener asks about compensating a family member who has been caring for their elderly parents. Susie advises that it is the parents' prerogative to compensate their child, and suggests setting up a joint account for convenience. Ensuring the parents' wishes are carried out should take precedence over the concerns of siblings.
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