Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: How Do I Avoid a Social Security Tax Torpedo?
Aug 15, 2024
Suze Orman, a renowned personal finance expert, dives into the intricacies of retirement finances. She tackles the dangers of the 'Social Security Tax Torpedo' and explains how to navigate Required Minimum Distributions (RMDs) after inheriting an IRA. With insights on the importance of dollar cost averaging, she highlights investing wisely, especially in emerging sectors like semiconductors. Suze also encourages listeners to prioritize relationships over mere financial success, blending motivational advice with practical money management tips.
35:19
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Quick takeaways
- Suze emphasizes the importance of understanding the implications of taxes on inherited accounts for informed financial planning.
- The introduction of the Ultimate Opportunity Savings Account encourages consistent saving habits by offering a monetary incentive for monthly deposits.
Deep dives
Ultimate Opportunity Savings Account
A new savings account has been introduced that offers individuals a chance to earn a $100 bonus by opening an Ultimate Opportunity Savings Account with Alliant Credit Union. To qualify, a member must deposit at least $100 each month for 12 consecutive months. This initiative aims to encourage consistent saving habits while providing a monetary incentive for members. By creating this account, individuals can take a proactive step towards building their financial future.
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