Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Revisiting: We’re in our 50s, should we get married?
Jan 2, 2025
Discover the essentials of building a secure financial future with tips on emergency savings accounts and investment options for kids. An 11-year-old's ambition to invest sparks a discussion on encouraging young investors. Explore the delicate balance of love and financial considerations for those contemplating marriage in their 50s. Dive into Roth IRA rules, trust establishment, and some heartfelt anecdotes from KT's childhood, illustrating the importance of personal stories in the financial journey.
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Investing for Children
- Open a Uniform Gift to Minors Act account to invest monthly earnings.
- Buy slices of stocks or ETFs at a discount brokerage firm like Fidelity or Schwab.
Marriage and Social Security
- Consider Social Security spousal benefits if one spouse has higher earnings.
- Prioritize love and other marital benefits over Social Security when deciding to marry.
Roth IRA Withdrawals
- Withdraw original Roth IRA contributions without penalty, regardless of age or time invested.
- Remember that withdrawals for emergencies are spent and should be replenished later.