WEBVTT - BA Q&A: How To Prepare For Entrepreneurship

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<v Speaker 1>Hey, ba fam, it's Mandy Money here aka Mandra Listen, y'all.

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<v Speaker 1>I want this to be the year when you finally

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<v Speaker 1>learn how to be the badass negotiator that you have

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<v Speaker 1>always wanted to be. Whether you are plucking up your

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<v Speaker 1>courage and trying to ask for a raise where you

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<v Speaker 1>currently work, or you are ready to negotiate a damn good,

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<v Speaker 1>juicy offer from a new job, I am here for you.

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<v Speaker 1>I have got a five step signature salary negotiation strategy

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<v Speaker 1>that I only teach in my free virtual Nail Your

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<v Speaker 1>Negotiation Masterclass. I've got one coming up in just a

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<v Speaker 1>couple of weeks. You can sign up and save your

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<v Speaker 1>spot at Nail Your Negotiation dot Com. That's Nail your

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<v Speaker 1>Negotiation dot Com. I can't wait to see y'all there.

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<v Speaker 2>It's time for the ba qa A the ba qa?

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<v Speaker 3>What to say?

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<v Speaker 2>The ba qa with Tiffin A the ba qa.

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<v Speaker 3>There's no man today.

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<v Speaker 2>Instead, we are making it a happy money, happy life week. Okay,

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<v Speaker 2>We've got my friend Jason V. Tug in the stew.

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<v Speaker 2>That's the studio for those of you who are not

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<v Speaker 2>as cool. If you did not listen to the regular

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<v Speaker 2>Brown Ambition episode on Wednesday with Jason.

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<v Speaker 3>It is amazing. We do breath work.

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<v Speaker 2>We talk about his new book, Happy Money, Happy Life,

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<v Speaker 2>which is available at Happy Money, haappylifebook dot com. It

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<v Speaker 2>is an amazing, amazing, amazing episode. So go listen. I

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<v Speaker 2>asked Jason stand the stew Jason and help me to

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<v Speaker 2>answer some finance questions and Jason agreed.

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<v Speaker 4>Thanks Jason, Oh, thank you so much. This is exciting.

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<v Speaker 2>Let's do this well real quick because I forgot. I'm like,

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<v Speaker 2>if you didn't listen, you might not know who Jason is.

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<v Speaker 4>So.

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<v Speaker 2>Jason is a wellness advocate and best selling New York

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<v Speaker 2>Times reviewed author of two books. He's the founder of

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<v Speaker 2>Frugal phrga L and is an award winning creator of

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<v Speaker 2>the Road to Financial Wellness product project. Jason is a

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<v Speaker 2>certified Diversity, Equity and Inclusion Expert, holds the Psychology of

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<v Speaker 2>Financial plays in certification, and is a certified Yoga instructor

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<v Speaker 2>and breathwork specialist. Jason focuses on holistic a holistic approach

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<v Speaker 2>where money isn't the goal, but money is a.

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<v Speaker 3>Tool to help achieve the goal.

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<v Speaker 2>He's been featured on the TED Next Stage, Y'ahoo Finance

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<v Speaker 2>for Forbes, Business Insider, New York Times, to name a few.

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<v Speaker 2>So we have a real financial educator, but one a

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<v Speaker 2>man after my own heart. Not just personal finance, but

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<v Speaker 2>holistic wellness in the room. So okay, first question, Jason,

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<v Speaker 2>that came into the room.

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<v Speaker 3>Let me see. Oh my gosh, Okay, this is from Paula. Hey, Paula,

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<v Speaker 3>straight up, now tell me if you really want to

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<v Speaker 3>love me. Some of y'all don't know. That's Paul Abdul.

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<v Speaker 2>You too young, Hey, ladies and Jason, I'm tackling my

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<v Speaker 2>debt and looking to start investing soon. I work for

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<v Speaker 2>a public agency that offers a four fifty seven B

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<v Speaker 2>which is basically like and an retirement account at her job.

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<v Speaker 2>It's a nonprofit retirement account. Or I'm guessing a public

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<v Speaker 2>agency retirement account and have been contributing a small amount

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<v Speaker 2>each paid period. Would you recommend contributing to this plan

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<v Speaker 2>or opening up a wroth ir to contribute to Thank

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<v Speaker 2>you so much for your insight.

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<v Speaker 3>What do you say, Jason?

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<v Speaker 4>Well, I think when it comes to retirement planning, I'm

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<v Speaker 4>a big believer in taking advantage of your employer accounts,

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<v Speaker 4>especially if there is a match an employer match, and

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<v Speaker 4>so she mentioned that she's contributing a small amount and

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<v Speaker 4>already thinking about the roth IRA. I think that's that's

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<v Speaker 4>a good line of thinking. But I want you to

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<v Speaker 4>maximize your contribution to that employer plan first before you

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<v Speaker 4>start adding into in terms of like your your goals.

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<v Speaker 4>And that has a lot to do with the employer match,

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<v Speaker 4>and that has a lot to do with also lowering

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<v Speaker 4>your potential tax liabilities. And so those are two things

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<v Speaker 4>that I would suggest.

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<v Speaker 2>All right, So I am on like especially with I'll

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<v Speaker 2>say this that, like, if you have an employer program,

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<v Speaker 2>which is awesome, to Jason's point, if you contribute to

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<v Speaker 2>your employer's retirement account. Let's just say you have one

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<v Speaker 2>hundred thousand dollars, right, and you contribute I don't know,

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<v Speaker 2>six thousand. Great, So then the government says you didn't

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<v Speaker 2>make a hundred thousand, right Jason. It says you made

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<v Speaker 2>one hundred thousand minus six, so you made ninety four thousand.

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<v Speaker 3>That's what we're taxing you on.

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<v Speaker 2>So that's what Jason means about that you get tax like,

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<v Speaker 2>you get a tax break now because when you contribute,

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<v Speaker 2>you get the tax break now. And then when you

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<v Speaker 2>go to pull money out later when you're sixty five

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<v Speaker 2>and a half plus, you will pay taxes on the

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<v Speaker 2>back end, but not on the front end. Right, But

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<v Speaker 2>with a Jason right, that's the opposite correct that you

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<v Speaker 2>don't get the tax break now because you basically put

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<v Speaker 2>in money with the roth ira now after tax money,

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<v Speaker 2>she already paid taxes on it. But when you go

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<v Speaker 2>to pull out your WROTH when you're older, then, because

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<v Speaker 2>you pay taxes up front, you don't have to pay

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<v Speaker 2>taxes on what you contributed or the growth of that.

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<v Speaker 2>You know, like let's just say you put in one

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<v Speaker 2>hundred thousand off your lifetime, it grew to two hundred thousand,

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<v Speaker 2>you don't have to pay taxes on that two hundred thousand.

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<v Speaker 2>So there's no right or wrong, and that like contribute

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<v Speaker 2>could tribute because you know, to Jason's point, it's almost

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<v Speaker 2>like a seesaw. You want to get some tax breaks now,

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<v Speaker 2>but you also want to get some tax breaks later.

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<v Speaker 2>So typically what I say is that, like, if you

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<v Speaker 2>have an employer account, get your match on and if

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<v Speaker 2>you are close to maxing out what you can technically

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<v Speaker 2>make to contribute, because everyone can't contribute to a roth IRA.

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<v Speaker 3>I think it was like one hundred and thirty nine

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<v Speaker 3>thousand dollars.

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<v Speaker 2>I'm not sure what the max is right now, Like,

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<v Speaker 2>you can't make over a certain amount of money and

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<v Speaker 2>contribute to a roth iray. There's backdoor ross, but we're

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<v Speaker 2>just talking plain regular personal finance that up to a

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<v Speaker 2>certain amount of money. They don't want individuals contributing to

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<v Speaker 2>a roth ira, you know, So if you are like

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<v Speaker 2>at one hundred thousand, I might be seesaw because you

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<v Speaker 2>could have both at the same time, contributing to my

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<v Speaker 2>employer account but then also contributing to like my roth

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<v Speaker 2>ira to make sure that, like you know, before it's

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<v Speaker 2>too late for me to max.

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<v Speaker 3>Out on my roth IRA. So either way, go ahead.

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<v Speaker 4>To Jason's Yeah, no, that's a good point because you

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<v Speaker 4>need there's a strategy around that. So you want to

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<v Speaker 4>make sure that you're employing kind of like before the

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<v Speaker 4>tax before taxes and after taxes, and there's there's a

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<v Speaker 4>lot of nuances when it comes to that. But I

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<v Speaker 4>think you're at the point where if you're thinking about

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<v Speaker 4>roth iras, look at maximizing again to the point of

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<v Speaker 4>where your employer matches. So you want you want to

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<v Speaker 4>contribute there and then also look at at the roth

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<v Speaker 4>Iray piece of it, because you do what you do,

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<v Speaker 4>want to mix a mixture on that as well, and

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<v Speaker 4>so that is that's that's what I've done in the

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<v Speaker 4>past in terms of maximizing my four to one k

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<v Speaker 4>contribution in addition to contributing to a roth iray. Because

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<v Speaker 4>if you're roth ira your six thousand for this year

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<v Speaker 4>grows to one hundred thousand thirty forty years later. You

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<v Speaker 4>don't pay taxes anymore. I mean, like, how amazing is that?

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<v Speaker 4>And that's the opposite is true for the four to

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<v Speaker 4>one k that's pretax or the four fifty seven that's

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<v Speaker 4>pre tax. So it's like it's it's those things like

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<v Speaker 4>really figuring out what your goals are and understanding that

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<v Speaker 4>that there is no right answer. It's just how are

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<v Speaker 4>you looking at the tax strategy and the impact to

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<v Speaker 4>your page.

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<v Speaker 3>So yeah, the only wrong answer is to not contribute.

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<v Speaker 3>We don't want that, you know, But.

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<v Speaker 2>Yeah, so we are up that a little bit to

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<v Speaker 2>a lot more, okay, Paula. So if you are enjoying

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<v Speaker 2>this ba qa with my friend Jason V. Tug of

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<v Speaker 2>Happy Money, Happy Life, the book. We're gonna throw a

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<v Speaker 2>break real quick and stay here because we'll be right back.

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<v Speaker 3>And we're back, and we're Brown. So we're in the

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<v Speaker 3>studio with Jason V.

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<v Speaker 2>Tug of Happy Money, Happy Life and his company Frugal

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<v Speaker 2>Financial Educator but wholeness Educator overall. I have Jason and

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<v Speaker 2>the stew and I asked him to stay and answer

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<v Speaker 2>some questions with y'all, and so we're gonna take another one.

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<v Speaker 2>If you actually want your question answered, you can go

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<v Speaker 2>to Brownhambis podcast dot com and click like to Ask

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<v Speaker 2>Us Anything button and you know, send us a message.

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<v Speaker 2>That way, you can slip into our DMS on It's

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<v Speaker 2>the BA podcast I Believe on Twitter and brand Ambision

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<v Speaker 2>podcast on Instagram and slip into the DM and ask questions.

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<v Speaker 2>That way. You can give us your real name, you

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<v Speaker 2>can give us a fighting name, you can say anonymous,

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<v Speaker 2>and we will honor all of that. But ask your

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<v Speaker 2>personal finance questions, your career questions, and your business questions.

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<v Speaker 2>We will answer all of those, all right, So we're

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<v Speaker 2>going to take another money question. Hi, Tiffany, Mandy, and Jason.

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<v Speaker 2>The Jason is silent, but I'm putting it in there.

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<v Speaker 3>I wanted to get.

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<v Speaker 2>Your input on the idea of using equity from my

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<v Speaker 2>home to purchase a property for the intent of long

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<v Speaker 2>term rental. What are your Recommendationonson, Jason, You've owned some

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<v Speaker 2>like have you owned some rental property?

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<v Speaker 4>I have not owned rental property, but I do read

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<v Speaker 4>up on it, and I do have family members that

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<v Speaker 4>have rental property, and this question comes up all the time.

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<v Speaker 4>So hearing this, I think I have a viewpoint on it.

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<v Speaker 4>So one, having equity in your property, that's a great thing.

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<v Speaker 4>And so you definitely want to do the calculations to

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<v Speaker 4>make sure that the investment that you're making with this

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<v Speaker 4>rental property is going to pan out for you. And

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<v Speaker 4>so if you're looking at tapping the equity of your

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<v Speaker 4>primary residence, your home, your space for a rental, you

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<v Speaker 4>want to make sure that it will eventually lead to

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<v Speaker 4>a positive financial result. And I have seen many situations

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<v Speaker 4>where it does not. Then all of a sudden, it

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<v Speaker 4>endangers your primary residence. And so the other answer I

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<v Speaker 4>would say is that it does make sense because if

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<v Speaker 4>you're looking at you don't have the down payment or

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<v Speaker 4>it's a sizable equity, and you could buy this rental

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<v Speaker 4>property in cash. There is a lot of upside when

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<v Speaker 4>it comes to that, and again it depends on the

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<v Speaker 4>amount that you're looking to borrow against your home and

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<v Speaker 4>where this property is, and if you've done the homework

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<v Speaker 4>in terms of like what the return would be when

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<v Speaker 4>you're renting this property out.

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<v Speaker 2>Okay, so I consider this. So I have not done this,

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<v Speaker 2>but I consider this. During the pandemic, when the home

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<v Speaker 2>prices were Christie, I was going to do a cash

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<v Speaker 2>out ref five, right, is that what's called cash back,

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<v Speaker 2>cash out, cash out recap. So that's basically when you

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<v Speaker 2>refinanced your home, almost like buying your home from yourself,

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<v Speaker 2>and then take out the excess money.

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<v Speaker 3>They won't let you take out all of it. They're like,

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<v Speaker 3>ur you tried it. I think they let you take

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<v Speaker 3>up to sixty percent or something like that.

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<v Speaker 4>Yeah, you know, there's a percentage.

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<v Speaker 3>So so my home was paid off.

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<v Speaker 2>So basically I would go from no mortgage to a

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<v Speaker 2>mortgage and then I was going to use that money

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<v Speaker 2>to purchase another property, which that's not unwise, but to

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<v Speaker 2>Jason's point, it would be unwise if you're purchasing a

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<v Speaker 2>property that you're not sure am I going to get

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<v Speaker 2>a positive cash flow because one, now your mortgage is

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<v Speaker 2>going to be more expensive if you didn't have or

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<v Speaker 2>you're going to have a new mortgage if you didn't

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<v Speaker 2>have one before. And then on top of that, there's

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<v Speaker 2>this new property that has to pay for itself.

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<v Speaker 3>And let's just say you don't get a.

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<v Speaker 2>Tenant right away, and so you're gonna be paying basically

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<v Speaker 2>two mortgages until you figure it out, you know so,

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<v Speaker 2>but it is one of the benefits of home ownership

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<v Speaker 2>is the ability to do so.

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<v Speaker 3>A home can be used as leverage.

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<v Speaker 2>So I want you to think of a lever as

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<v Speaker 2>something that helps to open something much bigger than itself.

0:11:03.440 --> 0:11:05.880
<v Speaker 3>Like a doorknob is a lever to a door. You know,

0:11:06.120 --> 0:11:07.559
<v Speaker 3>Like a door is huge.

0:11:07.280 --> 0:11:09.760
<v Speaker 2>And oftentimes very heavy, but this little doorknob, you know,

0:11:09.840 --> 0:11:11.880
<v Speaker 2>you can use this doorknob to open this door. And

0:11:11.920 --> 0:11:14.920
<v Speaker 2>a home can do that too, because when you own

0:11:15.000 --> 0:11:17.600
<v Speaker 2>a home, you know, you actually you know, you can

0:11:17.640 --> 0:11:19.960
<v Speaker 2>put down three and a half percent on one hundred

0:11:20.000 --> 0:11:20.960
<v Speaker 2>thousand dollars property.

0:11:21.160 --> 0:11:22.400
<v Speaker 3>That's thirty five hundred dollars.

0:11:22.480 --> 0:11:25.040
<v Speaker 2>So that's this little lever to get access to all

0:11:25.080 --> 0:11:27.760
<v Speaker 2>this money, which can be good but also dangerous. If

0:11:27.760 --> 0:11:31.000
<v Speaker 2>you're not wise and so you know, to Jason's point,

0:11:31.160 --> 0:11:33.560
<v Speaker 2>then you know if you're going to do this, which

0:11:33.640 --> 0:11:36.720
<v Speaker 2>is it can certainly be a very wise tool to

0:11:36.800 --> 0:11:39.679
<v Speaker 2>say I want access to another property and I can

0:11:39.840 --> 0:11:42.360
<v Speaker 2>use my current property to do so. But you want

0:11:42.400 --> 0:11:44.840
<v Speaker 2>to make sure that you know that you want do

0:11:44.920 --> 0:11:45.800
<v Speaker 2>more research on what.

0:11:45.760 --> 0:11:49.160
<v Speaker 3>It is to rent. There are numbers, like calculations.

0:11:49.160 --> 0:11:51.280
<v Speaker 2>One of my friends, Christina is like a big investor

0:11:51.280 --> 0:11:54.360
<v Speaker 2>in Saint Louis, and she's got like this number calculation

0:11:54.440 --> 0:11:56.599
<v Speaker 2>that she does to see if this rental property is

0:11:56.640 --> 0:11:59.720
<v Speaker 2>going to make financial sense and when one year, two year,

0:11:59.800 --> 0:12:01.760
<v Speaker 2>five years, you know what I mean. And so you

0:12:01.800 --> 0:12:03.679
<v Speaker 2>want to make sure that you're not just saying I

0:12:03.720 --> 0:12:04.760
<v Speaker 2>think this has a good idea.

0:12:04.880 --> 0:12:05.680
<v Speaker 3>Let me move forward.

0:12:05.760 --> 0:12:08.240
<v Speaker 2>That you've done the numbers on the new property and

0:12:08.240 --> 0:12:11.400
<v Speaker 2>it offsets the cost of the other property. You know,

0:12:11.520 --> 0:12:14.520
<v Speaker 2>so you know, honestly, Paula, this is Paula. I can't remember

0:12:14.640 --> 0:12:17.040
<v Speaker 2>this anonymous I think, I think, yeah, it's anonymous, anonymous,

0:12:17.040 --> 0:12:20.080
<v Speaker 2>So honestly anonymous, I think that you know it's not

0:12:20.120 --> 0:12:24.480
<v Speaker 2>a bad idea as long as you are doing running

0:12:24.480 --> 0:12:27.000
<v Speaker 2>your numbers. That's with all things investing you have to

0:12:27.080 --> 0:12:29.600
<v Speaker 2>run your number, run your numbers, fun the numbers. Let's

0:12:29.640 --> 0:12:31.680
<v Speaker 2>just take one quick last question, real quick. This is

0:12:31.679 --> 0:12:35.480
<v Speaker 2>just a question for me for Jason. So, Jason, you

0:12:35.720 --> 0:12:37.840
<v Speaker 2>left corporate. We get this a lot. You left corporate

0:12:38.320 --> 0:12:42.400
<v Speaker 2>and you went to start your business. Give us maybe

0:12:42.400 --> 0:12:44.040
<v Speaker 2>just a tip or two that for those people who

0:12:44.080 --> 0:12:46.040
<v Speaker 2>are like especially now with so many people losing your

0:12:46.080 --> 0:12:48.760
<v Speaker 2>jobs in the tech sector and it's just feeling so overwhelming,

0:12:48.800 --> 0:12:51.240
<v Speaker 2>and many of them maybe they have this like business idea,

0:12:51.320 --> 0:12:54.000
<v Speaker 2>they're not really sure. What are some things that before

0:12:54.040 --> 0:12:56.920
<v Speaker 2>they take the leak or unfortunately before they get let go.

0:12:57.360 --> 0:12:58.439
<v Speaker 3>What should people do to.

0:12:58.520 --> 0:13:02.880
<v Speaker 2>Prepare emotion only mentally, but also financially for the shift

0:13:02.960 --> 0:13:06.360
<v Speaker 2>from working in corporate America to potentially working for themselves.

0:13:06.559 --> 0:13:06.839
<v Speaker 3>Yeah.

0:13:07.320 --> 0:13:09.880
<v Speaker 4>I love this question because the first thing we'll tackle

0:13:09.920 --> 0:13:14.120
<v Speaker 4>the financial aspect of it. You need a emergency fund

0:13:14.320 --> 0:13:16.520
<v Speaker 4>or what I call the freedom fund. You need a

0:13:16.600 --> 0:13:19.600
<v Speaker 4>fund that can cover six to nine months of your

0:13:19.640 --> 0:13:22.880
<v Speaker 4>basic living expenses. So this doesn't mean six to nine

0:13:22.880 --> 0:13:25.199
<v Speaker 4>months of your current income. This is six to nine

0:13:25.200 --> 0:13:29.160
<v Speaker 4>months of your basic living expenses, housing, food, medicine, and

0:13:29.200 --> 0:13:31.600
<v Speaker 4>things like that. You need that in order for you

0:13:31.679 --> 0:13:34.640
<v Speaker 4>to kind of just function and society and also for

0:13:34.720 --> 0:13:37.920
<v Speaker 4>you not to have to run to find the next job.

0:13:38.000 --> 0:13:41.000
<v Speaker 4>So for me, when I quit corporate, I actually had

0:13:41.040 --> 0:13:44.360
<v Speaker 4>a sizeable fund and that had a lot to do

0:13:44.440 --> 0:13:47.160
<v Speaker 4>with me not buying property. Instead of me putting in

0:13:47.160 --> 0:13:50.240
<v Speaker 4>the down payment in the home, I had access money

0:13:50.400 --> 0:13:54.800
<v Speaker 4>that I could use towards paying my monthly obligations. And

0:13:54.880 --> 0:13:58.040
<v Speaker 4>so that is financially, you need to be set six

0:13:58.080 --> 0:14:01.000
<v Speaker 4>to nine months of your basic living expense is saved

0:14:01.040 --> 0:14:04.079
<v Speaker 4>a way, not invested in the market. I'm one of

0:14:04.120 --> 0:14:07.880
<v Speaker 4>those old school you need accessible liquid cash and that

0:14:08.559 --> 0:14:11.920
<v Speaker 4>because emergencies happen right to not a matter of if

0:14:12.200 --> 0:14:15.079
<v Speaker 4>when they happen, and if you are let go or

0:14:15.120 --> 0:14:17.960
<v Speaker 4>if there are changes in your situation, you need access

0:14:18.000 --> 0:14:20.760
<v Speaker 4>to money to help you pay for these necessities. Now,

0:14:20.800 --> 0:14:24.080
<v Speaker 4>preparing mentally and emotionally, I mean become leaving the corporate

0:14:24.120 --> 0:14:27.040
<v Speaker 4>world and pursuing your entrepreneur goals, It's going to take

0:14:27.080 --> 0:14:29.600
<v Speaker 4>a mental toll on you, and that has a lot

0:14:29.640 --> 0:14:34.040
<v Speaker 4>to do with you like finally believing in yourself enough

0:14:34.520 --> 0:14:37.080
<v Speaker 4>to kind of make this leap, and then when things

0:14:37.120 --> 0:14:40.560
<v Speaker 4>doesn't go the way you've envisioned it, well, that's going

0:14:40.600 --> 0:14:42.440
<v Speaker 4>to take a mental toll, and that's going to affect

0:14:42.520 --> 0:14:45.600
<v Speaker 4>your ability to kind of see the opportunities that presents itself.

0:14:46.080 --> 0:14:51.400
<v Speaker 4>So one for anyone who is experiencing this transition, whether

0:14:51.600 --> 0:14:56.000
<v Speaker 4>forced or chosen, I want you to prepare yourself mentally

0:14:56.440 --> 0:15:01.800
<v Speaker 4>by what reassessing reevaluating your current skill set. That's kind

0:15:01.800 --> 0:15:03.000
<v Speaker 4>of one of the key things. That's kind of like

0:15:03.040 --> 0:15:05.160
<v Speaker 4>you're looking at your resume and going, how can I

0:15:05.360 --> 0:15:07.080
<v Speaker 4>And this is interesting, right because I want to be

0:15:07.080 --> 0:15:09.840
<v Speaker 4>an entrepreneur. Why do I need to redo my resume? Well,

0:15:09.960 --> 0:15:11.720
<v Speaker 4>you need to understand your skill set. You need to

0:15:11.760 --> 0:15:15.280
<v Speaker 4>understand your experiences because you're gonna you're gonna uncover places

0:15:15.280 --> 0:15:17.600
<v Speaker 4>and gaps and then you may now want to tap

0:15:17.640 --> 0:15:22.240
<v Speaker 4>into your network of friends and entrepreneurs to help you

0:15:22.320 --> 0:15:25.240
<v Speaker 4>fill in those gaps. So work on that and that's

0:15:25.280 --> 0:15:28.960
<v Speaker 4>going to help you feel better about making this shift.

0:15:29.000 --> 0:15:31.760
<v Speaker 4>It's going to help you feel better about going after

0:15:31.880 --> 0:15:34.040
<v Speaker 4>for the next job if you're looking at maintain you

0:15:34.520 --> 0:15:36.600
<v Speaker 4>going from one job to the next stepending on your

0:15:36.600 --> 0:15:42.240
<v Speaker 4>situation and emotionally too, I mean, allow yourself if you've

0:15:42.280 --> 0:15:43.920
<v Speaker 4>been let go and there's a lot of people who

0:15:43.920 --> 0:15:45.240
<v Speaker 4>been let go, and a lot of the people who

0:15:45.240 --> 0:15:48.040
<v Speaker 4>are making the leaps on the base on their own faith.

0:15:48.440 --> 0:15:52.360
<v Speaker 4>Allow yourself the space and grace and time to grieve

0:15:52.680 --> 0:15:58.080
<v Speaker 4>losing the job or shifting from being so career focused

0:15:58.080 --> 0:16:02.080
<v Speaker 4>in the corporate world into the entrepreneurial purposeful path, because

0:16:02.120 --> 0:16:03.920
<v Speaker 4>there is a grieving period when it comes to that,

0:16:03.960 --> 0:16:06.440
<v Speaker 4>because our identity is so tied to it. So I

0:16:06.520 --> 0:16:10.520
<v Speaker 4>want you to take a moment to rest, to reset,

0:16:10.720 --> 0:16:13.720
<v Speaker 4>and let your body kind of readjust to the new

0:16:13.760 --> 0:16:16.560
<v Speaker 4>normal that you're trying to create. Because what I find

0:16:17.040 --> 0:16:19.160
<v Speaker 4>is that people who have been laid off and they

0:16:19.200 --> 0:16:22.280
<v Speaker 4>may get a severance package, or they may have unemployment

0:16:22.280 --> 0:16:25.280
<v Speaker 4>benefits or a savings account, they jump right into a

0:16:25.360 --> 0:16:28.640
<v Speaker 4>new job, or they jump right into entrepreneurship, and then

0:16:28.640 --> 0:16:33.720
<v Speaker 4>they're feeling the same strains. They're feeling the same constraints,

0:16:34.160 --> 0:16:36.920
<v Speaker 4>and so you need to take a moment of pause.

0:16:37.280 --> 0:16:39.000
<v Speaker 4>So that's kind of one thing for your mental health,

0:16:39.120 --> 0:16:42.960
<v Speaker 4>your emotional being. Take a moment of pause. And typically

0:16:43.480 --> 0:16:46.880
<v Speaker 4>that's doable because we have a financial safety net.

0:16:47.520 --> 0:16:49.080
<v Speaker 2>I love that, Jason, you have the best if you

0:16:49.240 --> 0:16:55.320
<v Speaker 2>are wanting to holistically navigate your personal finances, Jason has

0:16:55.320 --> 0:16:59.640
<v Speaker 2>this awesome book, Happy Money, Happy Life, where he guides

0:16:59.720 --> 0:17:02.200
<v Speaker 2>us through how to do so through the lens of

0:17:02.240 --> 0:17:03.600
<v Speaker 2>these eight dimensions.

0:17:03.600 --> 0:17:05.240
<v Speaker 3>Can you mention those eight dimensions, Jason?

0:17:05.600 --> 0:17:13.320
<v Speaker 4>Yeah, the eight happy dimensions their mental, emotional, physical, spiritual, social, environmental, occupational,

0:17:13.359 --> 0:17:14.119
<v Speaker 4>and financial.

0:17:14.560 --> 0:17:17.840
<v Speaker 2>So Jason walks us through those dimensions and through the

0:17:17.960 --> 0:17:21.320
<v Speaker 2>lens of personal finance. It's called Happy Money, Happy Life.

0:17:21.640 --> 0:17:25.800
<v Speaker 2>You can purchase it at Happy Money, happylifebook dot com.

0:17:25.920 --> 0:17:28.120
<v Speaker 2>Jason's awesome. If you have not listened to the prior episode,

0:17:28.400 --> 0:17:29.760
<v Speaker 2>do it. That's your homework.

0:17:30.440 --> 0:17:31.760
<v Speaker 3>Jason. Where can they find you?

0:17:31.760 --> 0:17:32.960
<v Speaker 2>You know, we know where we can find your book,

0:17:33.000 --> 0:17:34.439
<v Speaker 2>but where can they find you if they want to

0:17:34.440 --> 0:17:35.520
<v Speaker 2>follow you or connect with you?

0:17:35.800 --> 0:17:38.080
<v Speaker 4>Yeah, you can find me on Instagram and Twitter. I'm

0:17:38.119 --> 0:17:42.440
<v Speaker 4>active in those spaces at Jason v tug and also

0:17:42.640 --> 0:17:44.440
<v Speaker 4>on LinkedIn awesome.

0:17:44.200 --> 0:17:45.560
<v Speaker 3>V tug, b I t ug.

0:17:46.240 --> 0:17:48.680
<v Speaker 2>His stuff will be the link to the book, Happy Money,

0:17:48.680 --> 0:17:52.600
<v Speaker 2>happylifebook dot com and Jason's especially his Instagram where he's

0:17:52.600 --> 0:17:53.119
<v Speaker 2>really active.

0:17:53.280 --> 0:17:54.880
<v Speaker 3>They'll be in the show and notes.

0:17:55.480 --> 0:17:58.880
<v Speaker 2>So give a hollefo dollar honey. Thank you, Jason, You're

0:17:58.920 --> 0:18:00.919
<v Speaker 2>really awesome. Thank you for thank you for me and

0:18:00.920 --> 0:18:01.520
<v Speaker 2>my friend.

0:18:01.359 --> 0:18:03.239
<v Speaker 4>Well, thank you so much. I'm honored to be your

0:18:03.240 --> 0:18:03.680
<v Speaker 4>friends of me.

0:18:04.000 --> 0:18:06.439
<v Speaker 2>I was gonna say thank you for being a friend

0:18:07.160 --> 0:18:08.320
<v Speaker 2>travel around the world.

0:18:08.560 --> 0:18:10.560
<v Speaker 3>Is that Golden Girl though, that's not going back again.

0:18:10.800 --> 0:18:12.240
<v Speaker 3>But the hottest to.

0:18:12.840 --> 0:18:16.399
<v Speaker 2>You a pal and a hold that is Golden Girls.

0:18:18.040 --> 0:18:20.080
<v Speaker 2>I remember I tried to put Mandy up on Golden Girls.

0:18:20.119 --> 0:18:22.240
<v Speaker 2>She was like, who, I said, girl, get off my line?

0:18:22.600 --> 0:18:24.960
<v Speaker 2>Maybe like Golden Girls.

0:18:25.040 --> 0:18:28.200
<v Speaker 4>I said, Golden Browns. Okay, the Golden Browns.

0:18:28.160 --> 0:18:32.040
<v Speaker 3>Golden Broth. Thanks again, Jason, BYBA fan. We will see

0:18:32.080 --> 0:18:32.760
<v Speaker 3>you next week.

0:18:33.920 --> 0:18:36.160
<v Speaker 1>Hey, Ba fam, we could not do this show without

0:18:36.200 --> 0:18:39.240
<v Speaker 1>your support or the support of our team behind the scenes.

0:18:39.520 --> 0:18:43.080
<v Speaker 1>The Brown Emission podcast is produced by Cumulus Podcast Network.

0:18:43.200 --> 0:18:46.639
<v Speaker 1>It's edited by the wonderful Emani Crosby and produced by

0:18:46.720 --> 0:18:50.800
<v Speaker 1>Tanya Bustos. Dennis Stimplinsky is our in house tech guru,

0:18:50.880 --> 0:18:53.720
<v Speaker 1>and I am Bandy Woodard Santos your co host, and

0:18:53.760 --> 0:18:58.280
<v Speaker 1>I will see y'all next week.