Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Afford To Buy A Ring?
Apr 11, 2024
Suze Orman answers questions on interest rates, 5 Year Rule on Roths, living off interest. Quiz on affording purchases based on financial specifics. Discussion on buying a diamond ring for emotional significance over material possessions.
33:58
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Quick takeaways
- Consider emotional impact vs. investment when buying luxury items.
- Prioritize debt reduction, asset ownership, and interest-yielding investments for retirement security.
Deep dives
Deciding on the Purchase of a Diamond Ring
Lena contemplates buying a $900 diamond ring, seen as a symbol of self-worth post-divorce. With $2,500 monthly expenses and $4,200 earnings, no debt, and varied investments, she can afford the ring but is advised to consider its emotional impact versus investing the money.
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