Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Ask KT & Suze Anything: For Love and Money?
Jul 11, 2024
Suze offers advice on paying investment fees, pre-tax retirement accounts, and financial intimacy. The hosts discuss financial tips for children, relationship finance, and legal documents for security. They also explore selling term life insurance policies and investing in Roth IRAs for tax-free growth.
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Prioritize Roths Before Paying Advisory Fees
- Before young people invest in brokerage accounts, fund a Roth IRA or use their employer Roth 401(k)/403(b)/TSP if they have earned income.
- If they still want taxable investing, open a discount brokerage and dollar-cost-average into broad index funds or stock slices monthly.
Use Pre-Tax Deductions To Offset Business Taxes
- Choose pre-tax contributions only if you need the immediate tax deduction to offset current business income.
- Consult a CPA before converting large pre-tax balances to Roths because conversion timing depends on personal tax situations.
Steer Clear Of Too-Good-To-Be-True Yields
- Avoid investments promising unusually high fixed returns, as they often signal fraud or Ponzi schemes.
- Verify company registration, exchange listings, and never experiment with money you cannot lose.