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Speaker 1: What's up Its way up with Angela Yee. It's a

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Speaker 1: Wealth Wednesday. So of course my Wealth Wednesday partner, Stacy

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Speaker 1: Tuesday is here.

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Speaker 2: Happy Wealth Wednesdays everybody.

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Speaker 1: It's the last. This is the last Wednesday of the year,

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Speaker 1: the month of the year, of the month it is.

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Speaker 2: It's a tough one for a lot of people.

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Speaker 3: This is the week that some of our New Year's

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Speaker 3: resolutions tend to get a little week. We're almost at

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Speaker 3: the end of dry January. People see the finish line

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Speaker 3: and now it's when they need a little bit of support.

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Speaker 1: Yes, and today's also Chinese New Year. I just want

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Speaker 1: to put that out there, the Lunar New Year, the

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Speaker 1: Year of the Snake.

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Speaker 2: Yes, it appears to be that, all right.

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Speaker 1: Well, we also have with us Lazetta Braxton and you're

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Speaker 1: a financial planner, a wealth manager. Yes, also things that

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Speaker 1: we all striving toward. By the way, and I was like,

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Speaker 1: we have to talk, you know, after all this. But

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Speaker 1: you and Stacy actually have a program together.

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Speaker 3: Yes, we created Change your Mind, Change Your Money, which

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Speaker 3: is a mentoring program and also a course, and it

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Speaker 3: came out of Lazetta and I'm meeting probably about ten

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Speaker 3: years ago. When I was speaking at the Financial Planning Association,

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Speaker 3: and I know each week we bring you a lot

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Speaker 3: of different stuff. Just a little bit on how that

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Speaker 3: all came about is I've been a financial journalist for

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Speaker 3: over twenty five years, and I just had the pleasure

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Speaker 3: of working at the top news organizations in the world,

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Speaker 3: and that gave me a really unique vantage point to

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Speaker 3: see how people relate to money.

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Speaker 2: And I got really.

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Speaker 3: Frustrated by how I saw people struggle with money. Few

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Speaker 3: things work as simply right. Don't spend more than you have,

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Speaker 3: don't borrow more than you can afford to pay back,

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Speaker 3: don't in best more than you can weer to lose.

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Speaker 3: But money a leading cause of depression, a leading cause

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Speaker 3: of substance abuse, divorce. Clearly a lot more going on

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Speaker 3: there than dollars and cents. And I could also see

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Speaker 3: the financial media, the financial services industry, and at the

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Speaker 3: time the Susi Ormonds of the day put that I'm

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Speaker 3: sorry to put that. I don't mean to put that

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Speaker 3: out there in a negative way, but the way they

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Speaker 3: were teaching people about money landed in a big shame

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Speaker 3: dynamic like you should be doing this, or you're not,

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Speaker 3: or you're not this, and I could see people weren't

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Speaker 3: doing it more specifically myself included. Okay, so I went

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Speaker 3: on what I had no idea was going to be

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Speaker 3: a six year research project into what drives financial behavior.

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Speaker 3: And there is a lot of financial planners that were

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Speaker 3: starting to acknowledge the fact that when they're talking to

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Speaker 3: their clients, at some point, you're not talking about money anymore,

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Speaker 3: and they don't have.

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Speaker 2: The skills to deal with that.

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Speaker 3: So had those people for mentors also and just was

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Speaker 3: able to see that the problem is that when we

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Speaker 3: have trouble with numbers, we go straight to the numbers.

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Speaker 3: I have to earn more, save more, spend less. But

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Speaker 3: the real causes of our financial experience have got nothing

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Speaker 3: to do with numbers. It has to do with what

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Speaker 3: we believe about ourselves. It has to do with the

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Speaker 3: way ways in which we learned about money, and most

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Speaker 3: important has to do with us not knowing how to

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Speaker 3: manage that.

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Speaker 2: So I will let Lizetta speak.

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Speaker 3: But I'm so happy there's so many people out there

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Speaker 3: talking about the importance of mindset. Yeah, there's also it's

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Speaker 3: a skill, it's a science, it's there's real techniques that

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Speaker 3: help you actually shift your mindset. And I'm glad we're

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Speaker 3: talking about this when resolutions are fading, because willpower will

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Speaker 3: get you there about sixty percent of the time. It's

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Speaker 3: really about rewiring your perspective. And Lizette is one of

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Speaker 3: the few financial planners that I know that actually integrates

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Speaker 3: that into how she plans for people.

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Speaker 4: Well, first, I want to say thank you Stacy for

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Speaker 4: your work as a journalist, because there's so much false

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Speaker 4: information that's that's out there, and there's also a lot

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Speaker 4: of information that is not clearly communicated based on what

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Speaker 4: a financial plan really looks like.

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Speaker 1: Okay, so I.

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Speaker 4: Want to kind of start with the whole concept of

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Speaker 4: a financial plan. It's e to get the information online

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Speaker 4: and you got to cipher through to make sure it

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Speaker 4: makes sense. And then the next step of that is

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Speaker 4: when you get this information.

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Speaker 1: What do you do with it it?

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Speaker 4: It feels so overwhelming, and as a financial planner, not

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Speaker 4: just a financial advisor, a financial planner, and I have

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Speaker 4: to emphasize the planning part because the planning is also

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Speaker 4: the implementation. Okay, I'm walking hand in hand with my clients.

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Speaker 4: I mean, they're inviting me into their bedroom, money talk

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Speaker 4: conversations that's usually where it has or even money conversations

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Speaker 4: that could be arguments as well too. So I love

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Speaker 4: the concept of no fear, no shame zone when it

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Speaker 4: comes to having these important money conversations with people who

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Speaker 4: understand the basic ins and outs of how money works,

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Speaker 4: how it integrates, and your decision making, how these resources

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Speaker 4: support your life. And for me, I'm on this journey

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Speaker 4: of real wealth where we are allotting mission, your goals,

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Speaker 4: your mind, and your money as well too.

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Speaker 2: And there's.

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Speaker 3: To me, money's greatest gift is that it can really

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Speaker 3: reflect back to you where you are and are not

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Speaker 3: living in step with who you are and most people,

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Speaker 3: if you align your finances to what's really important to you,

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Speaker 3: not what you see on TV should be important to you,

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Speaker 3: not what society's telling you is important to you, it

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Speaker 3: will you will tend to have enough. And one of

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Speaker 3: the founders of this form of financial planning, which is

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Speaker 3: called life planning, is George Kender. I was talking to

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Speaker 3: him the other day and he told me a story.

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Speaker 3: So years ago a black woman walked into his office

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Speaker 3: and she said was very upset, and she said, I

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Speaker 3: need to save a million dollars. I need to save

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Speaker 3: a million dollars and he's like okay, and he's like,

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Speaker 3: what do you do. She said, she's a doctor, so

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Speaker 3: he said, okay, maybe saving a million dollars isn't that much.

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Speaker 2: Out of the question.

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Speaker 3: So he asked her about her medical practice, and she

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Speaker 3: worked in clinics and low income neighborhoods and sometimes she'd

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Speaker 3: go abroad, and that's where he saw the disconnect. He's like,

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Speaker 3: a million do this doesn't sound like someone who a

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Speaker 3: million dollars is really that important too, if you look

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Speaker 3: at what she's doing with her work. So he started

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Speaker 3: asking her questions about her life. We'll get into this

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Speaker 3: different type of conditioning later, but it turns out she

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Speaker 3: lived with her boyfriend, who was a white male stockbroker,

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Speaker 3: so a lot of conditioning buttons go off, and you know,

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Speaker 3: he's white, he's male, so believe it or not, in

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Speaker 3: the back of our minds, he knows a lot about money.

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Speaker 3: He was a stockbroker broker for goodness sake, and he

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Speaker 3: had was very fond of saying it takes a million

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Speaker 3: dollars to raise a child these days. It takes a

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Speaker 3: million dollars to raise a child these days. Did she

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Speaker 3: want a million dollars. No, she wanted at the baby

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Speaker 3: and you saw that in one second. And it's amazing

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Speaker 3: how when you're in it you don't see it and

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Speaker 3: he points. You know, they had that aha moment, and

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Speaker 3: then he talked to her about what's really what values

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Speaker 3: are important to her to raising a child. They listed

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Speaker 3: them out and it was a lot less than a

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Speaker 3: million dollars, so, you know, would put her on a

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Speaker 3: financial plan, put her in a community of women and money.

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Speaker 3: And he saw her a few years later and she

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Speaker 3: was walking down the street with the baby carriage and

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Speaker 3: a different boyfriend.

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Speaker 1: Solve the right problem, right, get rid of him, and then,

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Speaker 1: you know, I want to talk a little bit about

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Speaker 1: more about that because I was talking to one of

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Speaker 1: my friends the other day and she was like, look,

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Speaker 1: I don't want to be rich. I just want to

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Speaker 1: like be okay and have everything taken care of. But

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Speaker 1: I also feel like there's nothing wrong with wanting nothing

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Speaker 1: to be rich, but for some and I feel like

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Speaker 1: we're also conditioned to believe that we should be fine

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Speaker 1: with just being okay.

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Speaker 4: My take on it is kind of know you're enough,

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Speaker 4: and the enough is different for everyone, So what does

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Speaker 4: being rich mean that could mean a certain dollar amount

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Speaker 4: five million, ten million, less than that, or it could

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Speaker 4: be the quality of life you're living that doesn't require

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Speaker 4: the five million or the ten million. So I would

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Speaker 4: be kind of leery about putting a certain dollar amount,

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Speaker 4: as you talked about before, to the concept of what

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Speaker 4: feels rich and what feels wealthy.

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Speaker 1: Because she was reading I gave her the book You

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Speaker 1: Deserve to be Rich from Earn your leisure, and that's

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Speaker 1: why we even had the conversation. But before, like, I

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Speaker 1: also feel like I don't want to put a limitation

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Speaker 1: on what I could achieve or strive for financially, because

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Speaker 1: sometimes people equate having money with being evil.

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Speaker 3: If that's that's a that's a script, like that's you know,

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Speaker 3: one of the social scripts that we're talking about. Step

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Speaker 3: one in any financial process, financial planning process is to

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Speaker 3: get a real visceral connection to what your priorities are.

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Speaker 3: Think about these three questions called the Kinder questions. If

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Speaker 3: you had all the money in the world, Angela, money

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Speaker 3: was never going to be a problem. You're an Oprah rich,

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Speaker 3: you don't even people are doing stuff, You don't have

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Speaker 3: to think about money at all.

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Speaker 2: What are you doing with your life and your time.

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Speaker 1: Well, I would love to do a lot of philanthropy,

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Speaker 1: and so my goal is to be able. I like

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Speaker 1: the idea of being able to make money, to help

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Speaker 1: other people make money, and to help other people, you know,

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Speaker 1: do great work, because I know how hard it is

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Speaker 1: to be an entrepreneur and to raise money for myself.

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Speaker 1: It's been really hard to pursue certain things that I want,

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Speaker 1: and so I would like to be in a position

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Speaker 1: to be able to give grants, especially with the federal

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Speaker 1: government right now putting all of that in question. But

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Speaker 1: I would love to be able to help out people

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Speaker 1: that I see who are doing amazing work, who are smart,

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Speaker 1: who are motivated, but just don't have the access to capital.

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Speaker 1: And so that's one thing that I would love to

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Speaker 1: be able to do. I mean, even things that I

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Speaker 1: do in my spare time, like being in Memphis has

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Speaker 1: say do Children's Hospital and seeing what they do there

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Speaker 1: for kids who have childhood cancer or sickle cell anemia,

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Speaker 1: and how they are able to sickle cell disease, how

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Speaker 1: they're able to let them you know, be in the hospital,

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Speaker 1: put their families up, have a place to stay. And

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Speaker 1: I have to worry about paying for a thing. If

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Speaker 1: I had all the money in the world, I'd be

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Speaker 1: trying to just help people that need it.

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Speaker 3: Question number two. You've gone to the doctor and you

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Speaker 3: find out you have five to ten years left to live.

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Speaker 3: You're not good and you're not going to be sick.

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Speaker 3: It's going to be quick. If you had five to

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Speaker 3: ten years left to live, how would you change your life?

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Speaker 3: Where would you be, what would you be doing, Who

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Speaker 3: would you be with?

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Speaker 1: Well, I would probably at some point in my life,

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Speaker 1: I want to do this anyway, Go live on an

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Speaker 1: island somewhere and be in, you know, be outside and

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Speaker 1: experience like warm weather all year round and the sun,

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Speaker 1: and enjoy myself and write a book and tell it all.

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Speaker 2: Okay.

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Speaker 3: Third and final Okay, tell me yes.

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Speaker 2: Third and final question. You go back to this doctor.

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Speaker 3: We don't like this doctor very much, and he says, Angela,

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Speaker 3: this is it. This is your last day on earth.

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Speaker 3: The question is not what you would do. The question

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Speaker 3: is what are your regrets? What are you sorry you

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Speaker 3: didn't do my regrets? I don't know if I have

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Speaker 3: a lot of regrets. You found out today's your last day.

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Speaker 3: What do you sorry you didn't do?

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Speaker 1: I don't know if I feel like I'm sorry, I

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Speaker 1: didn't do anything. Okay, that's good, you know, because I

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Speaker 1: have been trying to set myself up just even like

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Speaker 1: to be able to take care of people around me,

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Speaker 1: so that when I am no longer here, that I

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Speaker 1: have other people taking care of It.

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Speaker 3: Might be in that book, it might be a little

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Speaker 3: bit in that wanting to live somewhere else. But you

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Speaker 3: see how starting the process, like starting your financial planning process,

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Speaker 3: like that, you really clarify what's important to people.

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Speaker 2: And then if you look at your.

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Speaker 3: Life, a lot of us spend a lot of time

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Speaker 3: and money on things that aren't authentically important to us.

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Speaker 1: Yeah, I know I do.

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Speaker 2: So why do we do that?

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Speaker 3: And that's money scripts and money scripts are just like

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Speaker 3: actors follow scripts. Money scripts are unconscious beliefs that we have.

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Speaker 3: We don't know about what they run the show unless

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Speaker 3: you're aware of them.

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Speaker 1: But my financial planner has something to say.

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Speaker 4: I'm gonna tell you what jumped out at me. My

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Speaker 4: women who are always putting other people first. And I

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Speaker 4: love the questions that you ask because it does refine

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Speaker 4: what's important to you. And I have seen my responsibility

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Speaker 4: of the permission. Work the permission when you said earlier

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Speaker 4: about to say the things that I want and center

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Speaker 4: those because that allows you to live more freely and

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Speaker 4: a bundly when you're taking care of yourself, and also overflow,

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Speaker 4: let your cup overflow to take care of others.

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Speaker 2: So what I didn't hear you say?

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Speaker 4: I mean, I heard the island, but then I heard

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Speaker 4: you go back to say, I want to make sure

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Speaker 4: everybody is good. Do you feel in terms of that

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Speaker 4: last you know, if you only had the year left

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Speaker 4: or two years or three years left, did you really

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Speaker 4: fill out your list of things that you want based

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Speaker 4: on giving your own self permission?

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Speaker 1: I would say, I mean, of course not. It's hard

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Speaker 1: to do because I feel like every day I'm working.

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Speaker 1: Like I said, I work seven days a week, sometimes

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Speaker 1: thirty days a month. You know, even when I'm not

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Speaker 1: here at work on the weekends, I'm doing things in

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Speaker 1: other markets. I'm always I feel like handling that, But

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Speaker 1: that's me trying to set it up for later so

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Speaker 1: that I don't have to do it, you know, later

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Speaker 1: on in life. And I think one of my biggest

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Speaker 1: problems has always been you know how they always say

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Speaker 1: work smarter, not harder. But I feel like I'm just

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Speaker 1: working harder and harder, and I feel like I have

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Speaker 1: to be present a lot of times to get things done,

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Speaker 1: and you know, even partnering with people and doing things

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Speaker 1: like this year twenty twenty five, and we talk about

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Speaker 1: this being the year the Snake. I know, I said

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Speaker 1: that it's lunar new year, but part of what it is,

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Speaker 1: right is that you're supposed to like clear things out

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Speaker 1: of the way so you can clearly see, like what

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Speaker 1: you know, you need to chop off that head of

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Speaker 1: the snake, and what's in the grass, what's hidden in

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Speaker 1: the grass, and just kind of clear all of that out.

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Speaker 1: And what I decided I wanted to do this year

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Speaker 1: in particular, was to stop doing things that are not

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Speaker 1: good for me. Like, like my boyfriend thinks that I

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Speaker 1: spend way too much time trying to help other people

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Speaker 1: and do things for people and like give a lot

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Speaker 1: of excuses for other people instead of saying this is

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Speaker 1: just not good, I have to cut it off. And

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Speaker 1: I'm always like trying to keep on doing things, and

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Speaker 1: I'm really bad at saying this didn't work, let's move on.

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Speaker 1: And so I want to really like try to close

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Speaker 1: out chapters that are just not beneficial to me, that

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Speaker 1: just stress me out, that really just don't deserve that energy.

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Speaker 3: It doesn't sound like it, but a limiting belief myself included.

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Speaker 3: I struggle with that a lot of entrepreneurs have, is

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Speaker 3: that I have to work harder, I have to grind

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Speaker 3: in order to be successful.

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Speaker 2: It's just it's a very limiting belief.

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Speaker 3: That's why it's so important to be aware of kind

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Speaker 3: of your why. Like I hear, there's so much in

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Speaker 3: there about giving back. There's so much in there about

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Speaker 3: what you know, feeling responsible, and you know, those are

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Speaker 3: the things we have to examine. I don't know why

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Speaker 3: this just came to mind, but I was speaking at

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Speaker 3: Rider University, and when I was done, a Chinese girl

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Speaker 3: came up to me and she was in tears.

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Speaker 2: And I was like, was my speech that bad?

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Speaker 3: And she's like no, She's like I just got accepted

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Speaker 3: into Harvard Business School. And I was like, well, now,

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Speaker 3: I really don't know why you're crying. And in her culture,

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Speaker 3: debt of any kind, any kind, any kind is considered

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Speaker 3: a character statement, a very negative, negative character statement, so

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Speaker 3: her family had been you know, student laws, are you

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Speaker 3: kidding me, you know, if you're not taking out any

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Speaker 3: debt and had really she'd really internalized it and felt

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Speaker 3: like there was something wrong with her and it was

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Speaker 3: affecting her self esteem and self confidence. And when we

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Speaker 3: looked at cultural scripting that those cultural messages, she finally

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Speaker 3: had a way to reframe it that, oh, this is

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Speaker 3: my parents belief because of their culture. It's not something

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Speaker 3: I have to internalize. And she finally had another way

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Speaker 3: of looking at it. So it's really getting clear on

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Speaker 3: what messages are playing. The very first thing I ever

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Speaker 3: did with Angela when I came on and showed that

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Speaker 3: she was co hosting and talked about the conditioning in

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Speaker 3: the black community. That message we tell ourselves that you

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Speaker 3: need to be rich to invest, and that I get

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Speaker 3: where it comes from. If you I get why we

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Speaker 3: don't trust financial systems, if they you know how they've

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Speaker 3: treated us historically. I get that there used to be entry,

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Speaker 3: you know, barriers, you had to have money to invest,

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Speaker 3: but technology changed all that. But we're still so stuck

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Speaker 3: on the you have to be rich to invest, investing

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Speaker 3: us for the rich that we don't see what that's

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Speaker 3: costing us. So it's really you know, being aware of

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Speaker 3: what messages are in play.

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Speaker 2: Women. Huh.

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Speaker 3: We're talking a lot about financial planning, we talk a

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Speaker 3: lot about investing, we talk a lot about all those

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Speaker 3: sorts of things, but quite frankly, most of your financial

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Speaker 3: outcomes happen in a moment. Well, I'll start with men.

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Speaker 3: Eighty percent of men negotiate their first salary. Men have

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Speaker 3: been conditioned, We're talking about scripted since the beginning of

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Speaker 3: time to provide and protect. Seven percent of women negotiate

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Speaker 3: their first salary salary. Women actually get their sense of

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Speaker 3: self more from nurturing. And we're a condition I mean

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Speaker 3: because society pays us less for doing the same thing.

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Speaker 3: We're not conditioned to advocate for ourselves financially, Not negotiating

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Speaker 3: your first salary cost you eight hundred and fifty thousand

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Speaker 3: dollars over the course of a career. Now imagine that invested.

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Speaker 3: So women take time out of work for elder care,

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Speaker 3: for childcare, So our social security benefits are less, our

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Speaker 3: retirement funds are less. Eighty nine percent of poverty stricken

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Speaker 3: elderly are women. It's because in that moment, if we

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Speaker 3: would have negotiated that salary, it would have been a

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Speaker 3: completely different outcome. So the point of our work is

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Speaker 3: when you're in that moment to have enough self awareness

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Speaker 3: to know, oh, I got to watch out for that

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Speaker 3: pattern and do something differently, your willingness to do something differently,

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Speaker 3: and once I help you see what your limiting beliefs are,

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Speaker 3: those limiting patterns are, and let you rewrite your own story.

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Speaker 3: Lizetta knows how to put it into a financial plan.

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Speaker 4: And I love our partnership because it's anchored in human capital.

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Speaker 4: I mean, most of us do not have the opportunity

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Speaker 4: to have money just passed down to us start our businesses,

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Speaker 4: to buy our new home, to you have the sabbatical

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Speaker 4: and tour Europe for you know, a whole year, the

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Speaker 4: leap year. So the work on understanding those scripts, realizing

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Speaker 4: that you are your biggest asset, your human capital, what

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Speaker 4: you bring to the table, and how to use what

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Speaker 4: you bring to the table and align that with the

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Speaker 4: money that you're currently making to come up with this plan. Now,

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Speaker 4: the areas of financial planning goals, A lot of that

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Speaker 4: is done in Stacy's work. The mindset, A lot of

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Speaker 4: that is done in Stacy's work. And then I get

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Speaker 4: to bring in those goals, those values, those new beliefs

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Speaker 4: that she's helped open up to carve into looking at

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Speaker 4: tax planning, investments, retirement planning, college planning, if you decide

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Speaker 4: to have children, or if you want to go back yourself,

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Speaker 4: insurance planning, life stages, whether you want to get married,

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Speaker 4: expand your families, people are going through the Great divorce.

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Speaker 4: It's very comprehensive in its approach to the technical aspects

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Speaker 4: of financial planning, but what it's anchored in is the

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Speaker 4: life and legacy you desire and you deserve, and also

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Speaker 4: as a part of the planning, add in space planning

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Speaker 4: as well too, that is, how do you direct your

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Speaker 4: resources so that you can have swapping out your money

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Speaker 4: for your time as well too. So in the partnership

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Speaker 4: it opens up putting everything on the table, reshifting things

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Speaker 4: that no longer serve you, as you said in terms

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Speaker 4: of the year of the stay, setting up the boundaries

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Speaker 4: so that you're free to focus on you as being

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Speaker 4: the asset for major investments, and then making those wise

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Speaker 4: decisions technically about how to invest in your retirement account

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Speaker 4: and your brokerage account and your five twenty nine account.

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Speaker 4: If you have children and are your state planning document?

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Speaker 2: Are they done?

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Speaker 4: Can you use your employee benefits to help you get

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Speaker 4: the assistance you need? So I appreciate the holistic aspect

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Speaker 4: of looking at your life centering you.

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Speaker 2: We worked with a young woman last year.

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Speaker 3: I think a lot of people are feeling this, and

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Speaker 3: in my time with her, I realized how much her

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Speaker 3: fear that she was going to be financially responsible for

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Speaker 3: her parents was playing out in all of her financial choices.

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Speaker 3: She had these goals, she didn't quite work towards them,

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Speaker 3: and that she knew out of there's three siblings, and

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Speaker 3: she felt that she was really going to be the

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Speaker 3: one to have to take care of her parents financially.

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Speaker 3: I know a lot of people out there are feeling

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Speaker 3: that right now, and it was really making her make

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Speaker 3: some fear based not great decisions. It took us about

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Speaker 3: a month to get to that, and when we saw it,

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Speaker 3: it was like, Okay, this is what's going on, this

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Speaker 3: is what she really wants to do. How do you

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Speaker 3: put that into a financial plan? Worried about your parents?

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Speaker 3: Financeancial security a great thing that people do in France.

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Speaker 3: When you buy a house, you have to buy a

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Speaker 3: life insurance policy. For the same amount of the house.

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Speaker 3: That's a technical step you can take to provide, you know,

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Speaker 3: to take care of that financial security part for your family.

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Speaker 3: Angela and I have our baby project right now, Wealth

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Speaker 3: Wednesday's Real Estate Club. Our partners saym has retired both

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Speaker 3: of his parents by okay, let me make some investments

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Speaker 3: that it just goes to take. You know, the return

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Speaker 3: is to take care of them in their late stage

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Speaker 3: life and for retirement. When you really understand what's going

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Speaker 3: on inside, you can.

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Speaker 2: Make those choices.

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Speaker 3: And we also, just as are called, you know, human beings.

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Speaker 3: Very few of us understand how we actually change behavior,

437
00:22:49,480 --> 00:22:52,800
Speaker 3: change mindset. And that's a you know, goes into a science,

438
00:22:52,840 --> 00:22:55,919
Speaker 3: a little bit of science. But that's something else that

439
00:22:55,960 --> 00:22:57,080
Speaker 3: we teach people.

440
00:22:57,359 --> 00:22:59,560
Speaker 1: You know, Lizzide, I want to ask you this as

441
00:22:59,600 --> 00:23:03,320
Speaker 1: a financial planner for people who maybe don't have any

442
00:23:03,440 --> 00:23:06,520
Speaker 1: extra money and are living tech to tchech or maybe

443
00:23:06,600 --> 00:23:09,359
Speaker 1: even in debt, how does that help somebody like that?

444
00:23:09,400 --> 00:23:13,359
Speaker 1: Because we've talked about a lot of things, and I

445
00:23:13,440 --> 00:23:15,160
Speaker 1: know for a lot of people, they're like, I don't

446
00:23:15,160 --> 00:23:18,360
Speaker 1: even have any money to be thinking about that. I'm

447
00:23:18,400 --> 00:23:19,280
Speaker 1: just trying to survive.

448
00:23:20,720 --> 00:23:24,440
Speaker 4: That's real, right, And what Stacy said earlier is that

449
00:23:25,280 --> 00:23:29,160
Speaker 4: the numbers, they do matter as well as the mindset.

450
00:23:29,440 --> 00:23:34,280
Speaker 4: So if you have earnestly kind of works your human

451
00:23:34,320 --> 00:23:38,399
Speaker 4: capital so that you're negotiating and getting paid what you

452
00:23:38,600 --> 00:23:43,800
Speaker 4: deserve or looking for other opportunities to get that income,

453
00:23:44,040 --> 00:23:47,760
Speaker 4: and you've combed through your expenses, then we're back to

454
00:23:47,840 --> 00:23:51,400
Speaker 4: trade offs. What are some of the creative approaches. I mean,

455
00:23:51,480 --> 00:23:55,040
Speaker 4: you're seeing now young people stay with parents much longer

456
00:23:55,119 --> 00:23:58,840
Speaker 4: to build up money. You're also seeing older parents move

457
00:23:58,920 --> 00:24:07,800
Speaker 4: in with adult children to save money. Please don't, but

458
00:24:07,880 --> 00:24:08,280
Speaker 4: that's real.

459
00:24:08,359 --> 00:24:09,160
Speaker 1: That's the mindset.

460
00:24:11,920 --> 00:24:15,400
Speaker 4: That's real, because it's it's a sandwich generation, right, We're

461
00:24:15,440 --> 00:24:18,639
Speaker 4: caring for one another and times are getting tight, and

462
00:24:18,680 --> 00:24:21,359
Speaker 4: the creativity has to come and play. And so you have,

463
00:24:22,359 --> 00:24:23,840
Speaker 4: you know a lot of people trying to get the

464
00:24:23,880 --> 00:24:27,480
Speaker 4: side gigs on upwork and hustling and grind trying to

465
00:24:27,520 --> 00:24:31,640
Speaker 4: figure out where the money is coming from. Being true

466
00:24:31,680 --> 00:24:35,720
Speaker 4: to you, and I've also seen it work. It may

467
00:24:35,760 --> 00:24:39,879
Speaker 4: not be the life that you had once imagined for yourself,

468
00:24:40,320 --> 00:24:46,160
Speaker 4: but when you get to that radical acceptance and that accountability, right,

469
00:24:46,240 --> 00:24:49,240
Speaker 4: and the conversation saying I've done all that I can do,

470
00:24:50,760 --> 00:24:53,640
Speaker 4: have a sense of gratitude in what you do, have

471
00:24:54,320 --> 00:24:56,440
Speaker 4: things that energy just opens up.

472
00:24:57,000 --> 00:25:01,880
Speaker 3: And also knowing what we really are like we're born

473
00:25:01,960 --> 00:25:06,200
Speaker 3: with everything. We need your instinct, your intuition, you know,

474
00:25:06,240 --> 00:25:11,320
Speaker 3: your ability to make decisions, and it's the change process.

475
00:25:11,359 --> 00:25:13,639
Speaker 3: It's about learning how to take direction from a different

476
00:25:13,720 --> 00:25:16,800
Speaker 3: part of yourself. We did I did a masterclass a

477
00:25:16,800 --> 00:25:21,520
Speaker 3: few months ago and this woman, you know, a middle

478
00:25:22,080 --> 00:25:25,240
Speaker 3: to older black women all you know, struggled a lot

479
00:25:25,280 --> 00:25:30,919
Speaker 3: of debt exactly what you're describing, and the impostor syndrome

480
00:25:31,240 --> 00:25:33,560
Speaker 3: that came with that, you know, the shame that came

481
00:25:33,640 --> 00:25:36,760
Speaker 3: with that, And it's just reminding her that that you know,

482
00:25:36,840 --> 00:25:39,240
Speaker 3: there's more to her than that. What you're talking about,

483
00:25:39,280 --> 00:25:41,280
Speaker 3: Angela is a lot of us getting that I'm grinding

484
00:25:41,320 --> 00:25:44,040
Speaker 3: I can't make it work, and you make decisions from

485
00:25:44,040 --> 00:25:47,400
Speaker 3: that place, and that keeps you locked in those same patterns.

486
00:25:47,400 --> 00:25:50,040
Speaker 3: What I'm trying to do is step back from that

487
00:25:50,560 --> 00:25:52,960
Speaker 3: and let your direction come from a different place. And

488
00:25:53,000 --> 00:25:55,639
Speaker 3: when she went through this process and the reality check

489
00:25:56,080 --> 00:25:59,040
Speaker 3: that she's not what these imposter syndrome messages are telling her,

490
00:25:59,080 --> 00:26:02,280
Speaker 3: She's not what the world's reflecting back to her. She

491
00:26:02,359 --> 00:26:06,000
Speaker 3: went into her HR department. She works for the Pentagon,

492
00:26:06,520 --> 00:26:10,000
Speaker 3: not the world's easiest HR department, and she walked out

493
00:26:10,040 --> 00:26:14,160
Speaker 3: of that meeting with a thirty thousand dollars raised within

494
00:26:14,320 --> 00:26:18,359
Speaker 3: hours after doing this masterclass. So the planning is good,

495
00:26:18,960 --> 00:26:22,400
Speaker 3: but it's really learning about how to take let all

496
00:26:22,400 --> 00:26:26,080
Speaker 3: those thoughts, beliefs, fears. They're gonna be there, but there's

497
00:26:26,160 --> 00:26:28,600
Speaker 3: more to me than that, and making your decisions from

498
00:26:28,640 --> 00:26:33,800
Speaker 3: that empowered place. And it's not a willpower thing. It's

499
00:26:33,800 --> 00:26:36,600
Speaker 3: not a pep talk thing. It's really knowing how to rewire.

500
00:26:37,520 --> 00:26:42,440
Speaker 3: I had my last cigarette on March eighth, twenty thirteen,

501
00:26:42,760 --> 00:26:46,960
Speaker 3: and I had my last I think alcohol a Memorial

502
00:26:47,040 --> 00:26:50,160
Speaker 3: Day five years ago. Not that I had a big

503
00:26:50,200 --> 00:26:52,879
Speaker 3: fight with those things, but I think you might have

504
00:26:52,960 --> 00:26:56,400
Speaker 3: heard of Alan Carr. Ellen DeGeneres made him very famous

505
00:26:56,400 --> 00:27:00,280
Speaker 3: with his book The Easy Way to Quit Smoking, because

506
00:27:00,280 --> 00:27:03,680
Speaker 3: she quit with that book after fifteen years. It's a

507
00:27:03,760 --> 00:27:07,040
Speaker 3: rewiring process. So what he actually did in both of

508
00:27:07,040 --> 00:27:10,159
Speaker 3: the books of his that I read is the truth

509
00:27:10,280 --> 00:27:13,679
Speaker 3: test is you know, constantly filling your mind with images

510
00:27:13,720 --> 00:27:17,800
Speaker 3: like alcohol, for example, it's a placebo effect and your

511
00:27:17,800 --> 00:27:19,920
Speaker 3: brain when you drink, it says, oh, this is how

512
00:27:19,920 --> 00:27:22,760
Speaker 3: I'm supposed to feel, and he's constantly giving you that.

513
00:27:22,760 --> 00:27:24,600
Speaker 3: Then all of a sudden, I remember, like three quarters

514
00:27:24,640 --> 00:27:26,720
Speaker 3: into it, I'd be sitting in front of glass of

515
00:27:26,760 --> 00:27:30,199
Speaker 3: wine and my brain would like they're trying to trick you,

516
00:27:30,760 --> 00:27:33,520
Speaker 3: just as the shift at your perspective changes and then

517
00:27:33,560 --> 00:27:36,000
Speaker 3: the behavior changes. We're not going to get into all

518
00:27:36,040 --> 00:27:39,600
Speaker 3: that now, but there's real techniques you need that work

519
00:27:39,680 --> 00:27:41,680
Speaker 3: that change your perspective and then those decisions.

520
00:27:41,720 --> 00:27:43,520
Speaker 2: Then those things happen and it's different.

521
00:27:43,720 --> 00:27:46,160
Speaker 1: Yeah, if there's any time it's been needed, I mean

522
00:27:46,640 --> 00:27:50,040
Speaker 1: before this, yes, always, but I think especially now, you know,

523
00:27:50,160 --> 00:27:52,959
Speaker 1: in times of turmoil, we don't know what's about to happen,

524
00:27:53,560 --> 00:27:55,679
Speaker 1: and I think the best thing you can do is

525
00:27:55,680 --> 00:28:00,359
Speaker 1: try to take control of your own personal mental well

526
00:28:00,359 --> 00:28:01,920
Speaker 1: being and financial well being.

527
00:28:02,200 --> 00:28:05,359
Speaker 3: Yeah, Black people are an incredible study and resilience if

528
00:28:05,400 --> 00:28:07,199
Speaker 3: you look at what we've actually been through, and we

529
00:28:07,280 --> 00:28:11,760
Speaker 3: forget that sometimes and it's connecting remembering that, connecting with

530
00:28:11,840 --> 00:28:13,200
Speaker 3: that making decisions from there.

531
00:28:14,400 --> 00:28:15,199
Speaker 1: Oh, go ahead, Liz that.

532
00:28:15,400 --> 00:28:17,840
Speaker 4: And I'm just gonna say community and accountability is so

533
00:28:17,920 --> 00:28:20,159
Speaker 4: important because sometimes when we're stressed, you know we go

534
00:28:20,240 --> 00:28:28,920
Speaker 4: to retail therapy. Yeahs, trying to find some happy hormones

535
00:28:28,960 --> 00:28:33,160
Speaker 4: when stress is really squeezing you. And why I say,

536
00:28:33,200 --> 00:28:36,640
Speaker 4: it's so important to have community and accountability. So when

537
00:28:36,680 --> 00:28:38,960
Speaker 4: you make that decision, which can happen in a moment,

538
00:28:39,400 --> 00:28:42,720
Speaker 4: it's like, okay, text your girlfriend or text your sister,

539
00:28:42,840 --> 00:28:45,000
Speaker 4: text someone to say, oh, I'm just feeling right to

540
00:28:45,120 --> 00:28:48,000
Speaker 4: talk off the ledge, talk off the spending so that

541
00:28:48,160 --> 00:28:51,960
Speaker 4: you can have that cushion account, that reserve, not going

542
00:28:52,040 --> 00:28:54,960
Speaker 4: to something tangible that's not going to really help my friends.

543
00:28:55,040 --> 00:28:56,880
Speaker 1: Be like, girl, you get it. You deserve it. So

544
00:28:56,960 --> 00:29:01,240
Speaker 1: that doesn't help you get it. You deserve it.

545
00:29:01,320 --> 00:29:05,600
Speaker 2: You take your team, take your pick your money team.

546
00:29:06,000 --> 00:29:08,720
Speaker 1: If you've set aside your your fun money.

547
00:29:08,920 --> 00:29:11,640
Speaker 4: Right, if you set aside as a part of your budget,

548
00:29:11,720 --> 00:29:14,200
Speaker 4: you say X Y and Z is for family, x

549
00:29:14,280 --> 00:29:16,720
Speaker 4: Y and Z is for me, this is for my savings.

550
00:29:16,960 --> 00:29:19,840
Speaker 4: And if you've set aside that money, then sure buy

551
00:29:19,920 --> 00:29:22,640
Speaker 4: whatever you you want. That's a trade off. It's not

552
00:29:22,680 --> 00:29:24,960
Speaker 4: an either or that, it's a both in right.

553
00:29:24,960 --> 00:29:29,200
Speaker 3: Right, Yeah, I know yourself. Saturday afternoon, I don't want

554
00:29:29,200 --> 00:29:33,280
Speaker 3: to go shopping. So accountability friend, Okay, Saturday afternoon, you

555
00:29:33,360 --> 00:29:36,160
Speaker 3: make me go out for a walk instead. None of

556
00:29:36,160 --> 00:29:37,120
Speaker 3: this stuff can be alone.

557
00:29:37,120 --> 00:29:37,480
Speaker 2: We weren't.

558
00:29:37,520 --> 00:29:39,320
Speaker 3: It wasn't meant to be alone. That's why it's part

559
00:29:39,320 --> 00:29:42,760
Speaker 3: of our platform, Change your Mind, Change your Money, which

560
00:29:42,800 --> 00:29:45,760
Speaker 3: if you go to Stacey Tisdale dot com, it's all there.

561
00:29:45,880 --> 00:29:48,320
Speaker 3: You can sign up for the course, you can sign

562
00:29:48,400 --> 00:29:51,560
Speaker 3: up for our mentoring program, but it's also you're put

563
00:29:51,600 --> 00:29:55,520
Speaker 3: into a community because that's actually a scientific behavior change

564
00:29:55,560 --> 00:29:57,280
Speaker 3: technique and accountability partner.

565
00:29:57,440 --> 00:29:57,600
Speaker 2: Oh.

566
00:29:57,760 --> 00:30:01,960
Speaker 1: I love this because I've I've always talked about financial planning,

567
00:30:02,040 --> 00:30:05,320
Speaker 1: but I've never really had a financial planner, like I've

568
00:30:05,400 --> 00:30:07,800
Speaker 1: kind of handled things on my own for the most part.

569
00:30:08,040 --> 00:30:11,080
Speaker 1: I've had stockbrokers, you know, I've invested in different things,

570
00:30:11,120 --> 00:30:14,200
Speaker 1: but I've never sat down and gone over my whole

571
00:30:14,480 --> 00:30:17,640
Speaker 1: financial outlook to see what it is that I'm trying

572
00:30:17,640 --> 00:30:19,800
Speaker 1: to get. So maybe I need to go ahead and

573
00:30:19,840 --> 00:30:21,640
Speaker 1: go to Stacytusdale dot com.

574
00:30:22,000 --> 00:30:23,080
Speaker 2: You have me right here.

575
00:30:25,440 --> 00:30:28,520
Speaker 1: It's already look at everything like as far as even

576
00:30:28,560 --> 00:30:32,160
Speaker 1: like retirement plans and helping to set up a state

577
00:30:32,200 --> 00:30:33,160
Speaker 1: planning and all of that.

578
00:30:33,680 --> 00:30:36,080
Speaker 3: Okay, based on what we know is important to you,

579
00:30:36,320 --> 00:30:39,400
Speaker 3: and it's so funny to hear you talk like that.

580
00:30:39,560 --> 00:30:42,960
Speaker 3: I think you know, I've been a journalist. I didn't

581
00:30:43,000 --> 00:30:46,040
Speaker 3: want to stop being a journalist. The media industry changed.

582
00:30:46,080 --> 00:30:48,200
Speaker 3: I don't know how to be anything else. So I'm like, okay,

583
00:30:48,280 --> 00:30:50,560
Speaker 3: I got to start my own media company. I've never

584
00:30:50,600 --> 00:30:53,600
Speaker 3: thought about entrepreneurship. I never wanted to be an entrepreneur.

585
00:30:55,080 --> 00:31:00,560
Speaker 3: Angela meeting Angela and the idea of wealth wins days

586
00:31:00,880 --> 00:31:04,920
Speaker 3: and her believing in it, and her now I'm starting

587
00:31:04,920 --> 00:31:06,680
Speaker 3: to think maybe it's not a good thing. I always

588
00:31:06,680 --> 00:31:08,680
Speaker 3: tell people that. That's almost like she believes it's bad

589
00:31:08,760 --> 00:31:11,960
Speaker 3: luck to not help people. But all of that you

590
00:31:12,120 --> 00:31:15,120
Speaker 3: gave me, you inspired me to be an entrepreneur. Oh good,

591
00:31:15,160 --> 00:31:19,200
Speaker 3: I'm glad and learning. And was also kind enough to say, Okay,

592
00:31:19,200 --> 00:31:21,160
Speaker 3: I know you don't know what you're doing, and it's uh,

593
00:31:21,400 --> 00:31:25,920
Speaker 3: learn as we go, but I mean, know who's you know, know.

594
00:31:25,920 --> 00:31:29,160
Speaker 2: Who's around you. That's gonna make a big difference. Right.

595
00:31:29,640 --> 00:31:32,200
Speaker 1: Well, again, where can people sign up and like find

596
00:31:32,240 --> 00:31:34,240
Speaker 1: this so they can get the information to change their

597
00:31:34,560 --> 00:31:35,800
Speaker 1: mind and change their money.

598
00:31:35,960 --> 00:31:39,120
Speaker 3: You can go to Stacytissdale dot com and for Aulia

599
00:31:39,200 --> 00:31:43,400
Speaker 3: Stacey is ey Folks By the way, Stacey Tisdale dot com,

600
00:31:43,400 --> 00:31:47,320
Speaker 3: you can sign up for our course, our mentoring program.

601
00:31:47,360 --> 00:31:51,400
Speaker 3: You can follow me on Instagram. Follow Wealth Wednesdays on

602
00:31:51,440 --> 00:31:54,760
Speaker 3: Instagram all the informations up there, and you also get

603
00:31:54,760 --> 00:31:57,720
Speaker 3: our great newsletter. And Lizetta you can follow She's a

604
00:31:57,800 --> 00:32:01,600
Speaker 3: Lizetta Braxton on Instagram. But we're excited about this new chapter.

605
00:32:01,720 --> 00:32:05,000
Speaker 1: Yeah, I'm not above saying I need help. I'm not

606
00:32:05,080 --> 00:32:06,760
Speaker 1: above it. That's the first step.

607
00:32:06,800 --> 00:32:09,560
Speaker 4: And we welcome in partnership.

608
00:32:09,000 --> 00:32:11,840
Speaker 3: And it's never been more important for people to create

609
00:32:11,840 --> 00:32:13,200
Speaker 3: our own economies together.

610
00:32:13,920 --> 00:32:16,280
Speaker 1: Really, all right, I'm gonna go through these steps so

611
00:32:16,320 --> 00:32:17,400
Speaker 1: I can report on it too.

612
00:32:17,520 --> 00:32:20,719
Speaker 2: I'm gonna and who's your weekly accountability partner?

613
00:32:20,800 --> 00:32:23,280
Speaker 1: Because honestly, for the first time ever, I just did

614
00:32:23,480 --> 00:32:25,800
Speaker 1: a heelock and I've never done that before, and I

615
00:32:25,880 --> 00:32:28,200
Speaker 1: was like mad at myself that I had to do it.

616
00:32:28,240 --> 00:32:30,000
Speaker 1: But I'm like, why haven't I done this earlier?

617
00:32:30,320 --> 00:32:30,680
Speaker 2: Yeah?

618
00:32:31,040 --> 00:32:34,000
Speaker 1: You know, but it's good to know. All right, Well, again,

619
00:32:34,040 --> 00:32:36,480
Speaker 1: thank you so much to Stacy, Thank you Lizeta. It

620
00:32:36,600 --> 00:32:37,440
Speaker 1: was a pleasure.

621
00:32:38,080 --> 00:32:40,959
Speaker 4: Likewise, thank you, and I celebrate what you all are

622
00:32:41,000 --> 00:32:44,160
Speaker 4: doing with the Wealth Wednesdays because it's time for us

623
00:32:44,160 --> 00:32:45,880
Speaker 4: to secure our wealth even more.

624
00:32:46,080 --> 00:32:47,720
Speaker 1: And oh and I meant to say this earlier. You're

625
00:32:47,720 --> 00:32:50,440
Speaker 1: one of the top ten Invescipedia's one hundred Top financial

626
00:32:50,440 --> 00:32:53,640
Speaker 1: advisors for three consecutive years, and you're also named one

627
00:32:53,680 --> 00:32:56,960
Speaker 1: of Crane's New York Business Notable Black Leaders and Executives.

628
00:32:57,080 --> 00:32:58,760
Speaker 1: So thank you for the work that you're doing. You know,

629
00:32:58,800 --> 00:33:02,000
Speaker 1: we only bring people up here they are super like,

630
00:33:02,480 --> 00:33:04,640
Speaker 1: you know, super qualified. Who we trust.

631
00:33:04,880 --> 00:33:08,320
Speaker 3: Yes, Stuphen, Wall Street Journal, New York Times, Black Enterprise.

632
00:33:08,640 --> 00:33:11,480
Speaker 3: She's an incredible financial expert. And thank you so much

633
00:33:11,520 --> 00:33:13,560
Speaker 3: for going on your journey with me. Don't mess with this.

634
00:33:14,800 --> 00:33:15,800
Speaker 2: I'm not mess with this.

635
00:33:16,040 --> 00:33:17,880
Speaker 1: Happy wealth Wednesday.

636
00:33:19,640 --> 00:33:20,200
Speaker 2: Well,