Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Afford to go on Vacation?
May 9, 2024
Topics include emergency funds, credit card debt, leaving assets to children, reverse mortgages, and a 'Can I Afford It?' quiz. Also discussed are using a Roth IRA as an emergency fund, navigating social security benefits after losing a spouse, estate planning insights, and financial advice for diverse situations.
39:01
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Quick takeaways
- Keep emergency funds in Roth IRA for long-term growth.
- Consider balance transfer for significant interest savings on credit card debt.
Deep dives
Maximizing Roth IRA Contributions for Emergency Fund
At 52 years old, Vina considers withdrawing $10,000 from her Roth IRA to boost her emergency fund. Susie advises against this, highlighting that Roth IRA contributions can be withdrawn without taxes or penalties, suggesting Vina keeps the funds within the Roth for long-term growth at similar interest rates.
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