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Speaker 1: This whole tariff situation. God, there's like specific days of

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Speaker 1: the week when I really get it.

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Speaker 2: The volatility has been absolutely at a very high level

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Speaker 2: since January. Administration made a pause for the next ninety days.

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Speaker 2: So July ninth is like the day we all need

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Speaker 2: to pay attention of what ends up happening because there

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Speaker 2: was a ninety day pause. Is it going to be

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Speaker 2: permanent policy or is he going to reverse some of

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Speaker 2: those things? And the reason why that matters is corporates

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Speaker 2: have not really what I call with the tariffs, passed

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Speaker 2: it on to the end consumer.

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Speaker 1: Yet. Hey, hey, bafam, it's your girl, Mandy Money and

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Speaker 1: welcome back to another episode of Brown Ambition. If you're

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Speaker 1: just joining us, welcome to the BA fam. This is

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Speaker 1: the podcast where we care as much about your financial

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Speaker 1: glow up as you do. It is the main character

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Speaker 1: of the episode here. I keep it real about money, career,

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Speaker 1: financial curveball, And at a time like this, I have

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Speaker 1: never been more grateful that I made this show because

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Speaker 1: I need this show as much as y'all need this show. Today,

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Speaker 1: I am diving deep and like headlong into the question

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Speaker 1: that y'all have been sending me on Instagram. By the way,

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Speaker 1: at Branda Mission Podcast, I actually read your dm so

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Speaker 1: please send them to me. Love your feedback. But y'all

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Speaker 1: are stressed. I mean I went on my Instagram stories

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Speaker 1: recently and I asked, what are y'all uncertain about? What

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Speaker 1: is keeping you up at night? And again and again.

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Speaker 1: What I heard was the stock market, the economy, inflation,

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Speaker 1: the job market, all of those things. Now, I can't

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Speaker 1: tackle like everything in one episode, so I thought today

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Speaker 1: I would bring on an expert and have a really

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Speaker 1: frank discussion about how do we invest how do we

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Speaker 1: make a financial plan at a time like this when

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Speaker 1: everything is just bat ish crazy. Y'all know what I'm

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Speaker 1: talking about, Okay. I mean, y'all probably hear it in

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Speaker 1: your group chat, And if it's not in your group chat,

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Speaker 1: y'all probably wish it was in the group chat so

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Speaker 1: you wouldn't feel so alone. That's why Brown Ambition is here.

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Speaker 1: So if you're someone like me, you've been side eyeing

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Speaker 1: your four to oh one k, you're wondering if you

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Speaker 1: should do something, do nothing, or just like go hide

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Speaker 1: for me in my emotional support vehicle. I just hide

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Speaker 1: in my car sometimes and spend like thirty minutes doom

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Speaker 1: scrolling or just staring off into space, and it's my

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Speaker 1: safe space. You know. Maybe that for you is like

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Speaker 1: under your covers with a great show on Netflix. Maybe

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Speaker 1: it's going to a friend's place. Whatever it is, we

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Speaker 1: are getting out from under the covers today. I am

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Speaker 1: getting out of my emotional support car. Y'all see I'm

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Speaker 1: not well. If you're on YouTube, you see I'm not

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Speaker 1: in the car right now. I am here with y'all,

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Speaker 1: and we are going to confront this head on, so

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Speaker 1: to help make sense of all of this market madness.

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Speaker 1: I'm joined by none other than Raquel Odin, the US

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Speaker 1: head of Wealth Premiere and Global Private Banking. In other words,

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Speaker 1: she runs that iss y'all. She is overseeing all the

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Speaker 1: wealth advisors at this massive global bank HSBC, and she's

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Speaker 1: here today with us, with me, which is incredible. She is,

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Speaker 1: and I don't say this lightly, one of the most

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Speaker 1: powerful women in banking, one of the most powerful Black

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Speaker 1: women in banking. She's got over thirty years of experience

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Speaker 1: helping people just like us navigate the ups, the downs,

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Speaker 1: and the what even is happening right now moments in

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Speaker 1: our financial life. On today's episode, we're going to talk

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Speaker 1: about how to handle market volatility without losing your mind

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Speaker 1: or hopefully your money, Which sectors might actually be smart

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Speaker 1: to invest in right now, Why my own financial strategy

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Speaker 1: set it and forget it is not exactly the right

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Speaker 1: strategy to be using right now. In fact, I am

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Speaker 1: literally going to log into my investment accounts and check

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Speaker 1: my investments for the first time in months. And Raquel

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Speaker 1: isn't she she's not going to read me for filth.

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Speaker 1: She's very gentle with me. But I actually discover something

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Speaker 1: crazy about my own investments that I thought I knew

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Speaker 1: what I was invested in. But I was shocked to

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Speaker 1: find out what I did about my investments today. And

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Speaker 1: I wouldn't have done that if Raquel wouldn't have snatched

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Speaker 1: me together and said, girl, if you don't log into

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Speaker 1: that Vanguard account and see what's going on in there,

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Speaker 1: and I'm so glad I did. We're also going to

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Speaker 1: talk about how women, especially you know us women of color,

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Speaker 1: are changing the investing game. So talking get out a

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Speaker 1: pen and paper, and if anything, get ready to see

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Speaker 1: what it can be like if we just stop being

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Speaker 1: afraid and stressed and nervous about seeing what's going on

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Speaker 1: in our finances and we actually confront it head on.

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Speaker 1: So this was a huge step outside of my own

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Speaker 1: comfort zone. I am asking y'all to do the same

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Speaker 1: and meet me here in this safe space we've created

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Speaker 1: on Brown Ambition where we are going to feel empowered

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Speaker 1: to take char of our finances, to actually get in

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Speaker 1: the driver's seat when it comes to our investing strategy.

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Speaker 1: And it all starts today. Welcome to the Brown Ambition

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Speaker 1: Podcast again for my new Ba fam, Hello and for

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Speaker 1: Ogba Fam. I love y'all so much. Enjoy today's show,

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Speaker 1: Brown Ambition. At a time like this, it is I'm

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Speaker 1: so grateful to have this platform. I think that it

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Speaker 1: gives us a way to speak right to the community.

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Speaker 1: Who is you know, really going through it in so

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Speaker 1: many ways? And today we're just going to talk about

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Speaker 1: the financial ways that we are going through it now.

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Speaker 1: In your experience, you're working at one of the biggest

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Speaker 1: banks in the world right and you probably or you

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Speaker 1: tell me, but do you feel like you get a

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Speaker 1: really good sense of what the typical like American savior

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Speaker 1: investor is going through right now, Like what they're struggling

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Speaker 1: with what are the biggest questions we're having.

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Speaker 2: It's great, Mandy, thank you for having me excited to

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Speaker 2: be here with you, and couldn't agree more. Working for

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Speaker 2: a large global bank or just all of us, this

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Speaker 2: is one thing we all have in common. And there's

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Speaker 2: definitely three things I probably would put it under the

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Speaker 2: lens of Number one would definitely be uncertainty trying to

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Speaker 2: understand what is going on right now. The second one

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Speaker 2: would be how to manage through this extreme market volatility

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Speaker 2: we're all experiencing. And then thirdly would be the impact

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Speaker 2: that we are seeing based on this administration and words

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Speaker 2: and policies such as tariffs, what does that really mean

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Speaker 2: to me? And then again the fourth one, I'm going

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Speaker 2: to add one more, which is just individual everyday living

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Speaker 2: things seem more expensive. We also don't know what this

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Speaker 2: really means from a long term standpoint, based on all

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Speaker 2: the commitments we received as it related to this administration

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Speaker 2: coming in on our expectations. So are the expectations we

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Speaker 2: all wanted are we seeing it? And right now with

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Speaker 2: all the things that I just mentioned, you know, those

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Speaker 2: are three things that are still not result for individual.

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Speaker 1: Yeah, it's just and you know, and We don't really

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Speaker 1: do well with discomfort and uncertainty, as you very well know.

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Speaker 1: I mean, you've been in banking for how many years now,

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Speaker 1: thirty years, thirty years, so this is not your first

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Speaker 1: volatile economy, you know. I imagine you must feel how

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Speaker 1: I felt that, Like three thirty am, when my toddler's

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Speaker 1: screaming at me and can't really articulate, and really I'm

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Speaker 1: just like, you're tired, go to sleep, but he's like, no,

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Speaker 1: what I really want to do is throw some trucks

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Speaker 1: around and watch pepa peg at three thirty in the morning.

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Speaker 1: But I know it's best for him, but he's not listening.

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Speaker 2: It's not well. I think you might say too, We're

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Speaker 2: not sure who's listening. But I do think it's important

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Speaker 2: that one I start with, you should not feel alone. Right, So,

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Speaker 2: no matter where you are in your financial journey, no

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Speaker 2: matter how much money you have, how big or how little,

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Speaker 2: we're all feeling the same. Right. Always want to give

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Speaker 2: everyone permission that it's okay tof not feel okay, because

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Speaker 2: that's how we're all feeling.

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Speaker 1: Yeah, And you know, the inclination is like, I'm not

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Speaker 1: feeling this way, so I need to do something if

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Speaker 1: I just could do something, I could if I was

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Speaker 1: just smart enough, or I had the right tip or strategy.

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Speaker 1: And then you get questions like we're getting from ba Fan,

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Speaker 1: which is like should I be making any adjustments to

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Speaker 1: my investments or is it safe to invest anymore? You know, ah,

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Speaker 1: what can I do? And sometimes what they don't want

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Speaker 1: to hear is like probably nothing. But how would you

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Speaker 1: answer that question when the answer is like what thing

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Speaker 1: can I do today to make myself feel better?

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Speaker 2: So it starts with one I tell everyone the same thing,

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Speaker 2: which is, in these moments, you really do feel paralyzed,

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Speaker 2: right because you don't know do I just stay, do

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Speaker 2: I move? Am I missing out on the opportunity? And

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Speaker 2: the answer is all three. So if you have long

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Speaker 2: term investments, I always say stay the course. Markets always

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Speaker 2: always recover, right, So that's the resiliency of the markets

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Speaker 2: we can rely on. But again, when I say stay

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Speaker 2: the course, that's going to be for the things that

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Speaker 2: you have put away for long term retirement. You know

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Speaker 2: your four oh one k it could be your education

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Speaker 2: for your young son that one day's going away for school,

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Speaker 2: but he's not going to school tomorrow, so you know,

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Speaker 2: you're investing right now for the long term, and so

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Speaker 2: in this moment lots of volatility, but the markets do recover,

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Speaker 2: So if you are in the market, you should stay

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Speaker 2: the course. But at the same time because there is

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Speaker 2: a lot of volatility, so it's actually a buying opportunity.

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Speaker 2: And that always feels pretty counter to individuals because when

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Speaker 2: you see the market doing these swings and you see

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Speaker 2: it going down exponentially on some days, you say to yourself, well,

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Speaker 2: I don't want to be part of that. Well, that's

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Speaker 2: actually the opportunity where you can enter. It's kind of

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Speaker 2: what I call counter to your emotions, and that's the

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Speaker 2: hard part about investing Emotionally, you say, why do I

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Speaker 2: want to be part of something that's going down? But

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Speaker 2: really that's really the greatest opportunity for you to kind

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Speaker 2: of potentially enter in the markets. And then as part

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Speaker 2: of that buying opportunity, you want to make sure you're

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Speaker 2: focused on particular sectors only because in this environment right now,

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Speaker 2: things such as tariff will have impact on some very

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Speaker 2: important sectors and there'd be some sectors it does not

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Speaker 2: have impact on. To keep that in mind, I always

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Speaker 2: been a big advocate if I think about the sectors

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Speaker 2: that I think are going to be resilient, meaning they're

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Speaker 2: going to do well even in this time and really

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Speaker 2: have good what I consider long term trajectory on growth. One,

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Speaker 2: I always start with technology, the tech sector. You know.

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Speaker 2: The irony of this is, before all this started, there

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Speaker 2: was something called the MAG seven and extremely expensive. We

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Speaker 2: were seeing crazy increases in the MAG seven where people

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Speaker 2: just couldn't even like be able to enter about Amazon

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Speaker 2: and the video it's just the vidio. It's so exciting

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Speaker 2: the video. Right. So here's where you'd say with AIS.

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Speaker 2: When I say tech, I'm really pointing to the AI

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Speaker 2: side of it. So thank you, Mandy. That is really

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Speaker 2: what I mean by tech. It's really talking about in

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Speaker 2: the importance of AI. AI's in the early innings, very

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Speaker 2: early stages. Quite honestly, if you think about the dot

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Speaker 2: com eraror of the nineteen nineties where we were trying

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Speaker 2: to figure out where the Internet was going and what

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Speaker 2: dot coms we're going to make it, we're literally in

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Speaker 2: the beginning of that phase right now with AI, and

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Speaker 2: so it's a buying opportunity, right, and so with this

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Speaker 2: market volatility, there are great MAG seven tech companies that

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Speaker 2: are what i'd say, leaning into that AI component that

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Speaker 2: you could actually have the opportunity be part of. I

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Speaker 2: also think, hello, okay.

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Speaker 1: I love and you're going to talk about healthcare. Cool.

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Speaker 1: I just want to know because I was just talking

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Speaker 1: about this yesterday. There's ways to invest in these sectors,

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Speaker 1: like you said, without picking one company here and there, right,

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Speaker 1: So can we talk about that? You keep going though,

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Speaker 1: but I want to talk about like nope, and mutual

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Speaker 1: funds ETFs. What are we talking about here?

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Speaker 2: Yeah? So when I start with you know the idea

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Speaker 2: of sectors and so you talked about tech but being

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Speaker 2: very specific on the AI tech company, so maybe you

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Speaker 2: know that and subtlety that you talked about. I mentioned

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Speaker 2: healthcare only because again with the innovation and AI, it

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Speaker 2: is having exponential impact on the healthcare sector. Right, So

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Speaker 2: when you think about healthcare and where we're going, it

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Speaker 2: is really going to be a catalyst for that sector

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Speaker 2: where it's going to do really well long term. And

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Speaker 2: I could point to utilities as a third one. So

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Speaker 2: to your exact question, Uh, it isn't about buying single

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Speaker 2: stocks all the time. It depends where you are in

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Speaker 2: your investment journey. It really is about diversifying portfolios, right,

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Speaker 2: So it really is figuring out how do I get

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Speaker 2: into a managed portfolio of a bunch of stocks and

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Speaker 2: bonds put together. That allows me to say, which, how

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Speaker 2: heavy do I want to be in equities right now?

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Speaker 2: Versus how do I want to be and let's say

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Speaker 2: fixed income, alternatives or structure. Right So, even from that

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Speaker 2: standpoint of diversifying your portfolio, and then very specifically within

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Speaker 2: the equities bucket is where you heard me talking about,

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Speaker 2: let's focus on tech, let's focus on healthcare, let's focus

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Speaker 2: on you know, let's focus on mutilities. There's a reason

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Speaker 2: why we're saying it in that standpoint that where i'd say,

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Speaker 2: in markets like this, this is where you have a

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Speaker 2: CAP twenty two, I'm not saying you should not buy

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Speaker 2: individual stocks, that there are going to be particular ones

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Speaker 2: that you've always had interest in or that you think

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Speaker 2: matter to you, but I wouldn't use this as the

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Speaker 2: opportunity for you to now start managing full portfolios. Right

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Speaker 2: And so that does include what type of product solutions

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Speaker 2: are we going for? Is it mutual funds like you said,

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Speaker 2: is it ETF? What type of bonds? You know, where

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Speaker 2: should I put in my treasuries. That gets to the

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Speaker 2: point where you might say, this is where I'm also

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Speaker 2: giving the abvacy advocacy to everybody to say, in markets

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Speaker 2: like this that are pretty complex right now, there is

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Speaker 2: not one person that has the answer to where this

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Speaker 2: is going and what it's going to need. I also

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Speaker 2: give people permission to get professional help well, because this

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Speaker 2: is a really complicated market right now that I'd have

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Speaker 2: to say based on an administration that we have in

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Speaker 2: office right now and where we are focused on the

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Speaker 2: balance of inflation as well as what we're actually seeing

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Speaker 2: from the standpoint of performance in the markets. It's not

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Speaker 2: one we can point to history on and so this

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Speaker 2: is where if you've run and you have the ability

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Speaker 2: to do so, it is important to one get on

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Speaker 2: podcasts like this and really listen to what people are

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Speaker 2: telling you in the standpoint of what do I need

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Speaker 2: separate long term needs versus short term needs. So I

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Speaker 2: just told you, like, stay the course on your long

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Speaker 2: term needs, but there are things you could be doing

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Speaker 2: in the short term if you've got short term cash needs,

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Speaker 2: things where you don't have five or ten years. There's

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Speaker 2: different recommendations I'd make you know. I would say treasuries

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Speaker 2: are really a good opportunity right now. Gold is doing

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Speaker 2: really well now. Hedge funds is another what I call

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Speaker 2: short term vehicle that you could focus on right now

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Speaker 2: for needs of ensuring that you're not seeing in a

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Speaker 2: checking account a cash checking account and getting no yield.

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Speaker 2: But there are safer, shorter term products where you can

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Speaker 2: get yielded but still have access to that cash right

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Speaker 2: and not having to wait for that long resolve of

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Speaker 2: the markets in order for you to actually see the

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Speaker 2: results you're looking for. So there are many aspects you

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Speaker 2: can pull on depending on where you are and what's

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Speaker 2: important to you right now. But I always tell people

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Speaker 2: time horizon matters like how quickly do you need access

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Speaker 2: to this? What's your risk tolerance? How much can you

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Speaker 2: afford to sit through this and be patient? And then importantly, diversification.

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Speaker 2: There isn't one answer. It isn't one buying one stock

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Speaker 2: or buying one bond, right you want to diversify in

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Speaker 2: a market like this. And then the fourth one would

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Speaker 2: be I need you to stay active.

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Speaker 1: Hey bafam, We're going to take a quick break, pay

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Speaker 1: some bills, and we'll be right back all right, ba Fan,

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Speaker 1: we're back.

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Speaker 2: And what I mean by active is these sectors will

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Speaker 2: be changing based on all these different things that are

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Speaker 2: happening and policy changes that are happening. So that also

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Speaker 2: means you have to actively probably pivot depending on the

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Speaker 2: sector quite honestly. And the reason why you think about

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Speaker 2: this the terrors you know definitely have impacted, for example,

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Speaker 2: the tech sector. So I told you that's a buying opportunity.

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Speaker 2: So that's why you get to stay active, Like this

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Speaker 2: is where you could enter financials. Banks right now are

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Speaker 2: definitely being impacted by these terrffs. Manufacturing is being impacted

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Speaker 2: by these terrors, right, So either you see that as

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Speaker 2: a buying opportunity or you see that as an opportunity

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Speaker 2: that if it's in your portfolio, you should probably divest

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Speaker 2: of that and figure out what other sectors are going

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Speaker 2: to do better in an environment like that. So I'm

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Speaker 2: back to my state of active.

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Speaker 1: That's where I feel like when you do something with

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Speaker 1: it's kind of like I'm coming up with a metaphor

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Speaker 1: for this, like an analogy. But I keep trying to

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Speaker 1: grow tomatoes and I put the seeds in the pot

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Speaker 1: and I water them and a little in the little

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Speaker 1: like the three inch little shoots start coming up, and

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Speaker 1: I'm like, I'm going to have tomatoes this summer. Then

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Speaker 1: life starts happening. I forget to water them one day,

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Speaker 1: you know, or I get back on the watering track,

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Speaker 1: or then like I forget there's going to be a

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Speaker 1: frost tonight. I should bring them inside. I really shouldn't

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Speaker 1: have started it before the last frost anyway. And then

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Speaker 1: I'm like, well, damn, the seedlings have all died. And

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Speaker 1: I kind of feel like with investing, it's like we

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Speaker 1: start doing something with the best intention and we make

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Speaker 1: a we do it really well, but maintaining like you said,

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Speaker 1: to stay active, you're signing up for a job, like

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Speaker 1: you're signing up for needing to be if you want

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Speaker 1: to do it well and you want to be successful

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Speaker 1: with these investments, you know, picking and choosing, like you

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Speaker 1: need to be capable of paying attention and going in

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Speaker 1: and out, you know, as frequently as you may need

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Speaker 1: to make those adjustments. And I ain't got that kind

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Speaker 1: of focus. I don't like it. I've always been a

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Speaker 1: target date fund, index fund. Girly, I'm like, give me

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Speaker 1: the total stock market. Give me, maybe I'll spice it

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Speaker 1: up and get a little ETF here and there. You know,

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Speaker 1: ETFs I kind of think of like Ben and Jerry's flavors.

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Speaker 1: I'm like, oh, I can get this flavor. I'm sure

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Speaker 1: there's an ai ETF. I haven't even bothered to go

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Speaker 1: get yet, socially responsible ones, what have you. So I

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Speaker 1: just want to like remind folks, it's like, if you

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Speaker 1: go this route of being active, can you sustain it?

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Speaker 1: Are you going to forget to water it someday and

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Speaker 1: you're going to look back at it and be like oops?

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Speaker 1: Then then I feel like, are you really the best

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Speaker 1: kind of person for like a more active investing strategy?

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Speaker 2: I love everything you said, and it's all accurate. So

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Speaker 2: when I say active that term cough. I love that. Okay.

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Speaker 1: First of all, for you to say that something I

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Speaker 1: said is accurate is great.

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Speaker 2: Everyone's with me, right, But what you do is you

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Speaker 2: said it, I'm going to buy an index fund where

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Speaker 2: I've outsourced it to the index fund. And what I

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Speaker 2: mean by active is just open the statements, pay attention

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Speaker 2: to how it's performing and what it's doing. I was

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Speaker 2: not advocating that you now need to start picking and

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Speaker 2: buying certain stocks in certain bonds. Second pieces, I said

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Speaker 2: outsource it, meaning get someone who can professionally and give

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Speaker 2: you advice on this because you're right knowing who you are,

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Speaker 2: and if you have lifestyles. I have individuals who say

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Speaker 2: I live for this, I want to be active, I

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Speaker 2: want to make my picks, I want to know where

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Speaker 2: to go, and I'd say majority of us are what

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Speaker 2: you just described, and active can mean different ways. Active

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Speaker 2: meaning you want to be involved in buying and selling

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Speaker 2: of the portfolio, not a huge advocate for it. By

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Speaker 2: the way, I do believe in outsourcing it to funds

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Speaker 2: that are already built on diversification and are going to

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Speaker 2: be what I call aggressive or moderate, so you can

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Speaker 2: kind of decide what the level of what I call

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Speaker 2: risk tolerance you have so you find that right portfolio

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Speaker 2: that works for you. And then third would be having

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Speaker 2: a professional who really walks through your financial plan, figures

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Speaker 2: out your goals, and then align to all your investments

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Speaker 2: against it. So my point here is you could be

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Speaker 2: any of those terms of active. And then the fourth one,

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Speaker 2: the most important one is on your four to one K. Clearly,

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Speaker 2: if you have a four to one K right, it's

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Speaker 2: being run by your company, and I got picked when

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Speaker 2: you probably onboarded. Actively, open your statement and see how

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Speaker 2: it's doing. Active can mean lots of different things, but

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Speaker 2: closing your eyes and saying, I pray everything's okay is

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Speaker 2: the one where I do need people to kind of

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Speaker 2: lean in a little bit more than that. And I

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Speaker 2: think many are in that bucket where like I just

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Speaker 2: stop opening my statements, I just stop looking how everything

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Speaker 2: was doing because it's just so crazy right now, and

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Speaker 2: it's like, well, you know, this is the time you

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Speaker 2: should open it. At the same time, you will definitely

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Speaker 2: see maybe a little velocity happening right which is which

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Speaker 2: we all understand. But then you have to remind yourself, okay,

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Speaker 2: is this going to help me still meet my goal

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Speaker 2: over the next ten to fifteen years. And the professional

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Speaker 2: will tell you, while we are seeing a little volatility,

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Speaker 2: this is a sector that's going to do great over time.

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Speaker 2: So while we're seeing a blimp right now, we should

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Speaker 2: stay the course on this one. Maybe not, because this

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Speaker 2: is a sector that's changing quite a bit. And so

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Speaker 2: that's what I mean by active could be how you

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Speaker 2: define it to be, but closing your eyes and not

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Speaker 2: paying attention at all. Probably is the one that I

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Speaker 2: am going to advocate you do a little more, for more.

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Speaker 1: I was hoping you were just going to say said

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Speaker 1: it and forget it. You know, that's my problem is

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Speaker 1: it's not a problem, but I would I sort of

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Speaker 1: saw it as a superpower that when things like this,

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Speaker 1: when there was volatility, that I wouldn't check my my

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Speaker 1: my long term investments, like I have a Vanguard account.

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Speaker 1: I wouldn't go in there and try.

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Speaker 2: To like I just trust that, but I open the

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Speaker 2: Vanguard account. By the way, just take it.

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Speaker 1: I'm doing it with you. It's why I'm kind of

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Speaker 1: smiling because I'm like, well, I'm about to do it

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Speaker 1: because I want you to then walk me through so

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Speaker 1: a healthy way to do this. I want, ba fam.

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Speaker 1: I want us to understand the right approach and a

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Speaker 1: time like this, like let's look at it together, ba fam,

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Speaker 1: Like we've been working hard. A lot of our listeners.

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Speaker 1: I know y'all got four one case. Maybe you have

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Speaker 1: a little brokerage, a little you know, roth Iray on

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Speaker 1: the side. You're maxing it out, you're doing the big one.

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Speaker 1: So talk me through it, Raquel. I'm in my account

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Speaker 1: we ain't got to talk about numbers. But I started

431
00:22:30,800 --> 00:22:35,320
Speaker 1: when I was twenty four, so I'm very proud of her. Okay,

432
00:22:35,400 --> 00:22:38,480
Speaker 1: I'm here, I'm on my dashboard. The number seems near

433
00:22:38,520 --> 00:22:43,040
Speaker 1: what it was. Okay, my rate of return is eleven

434
00:22:43,080 --> 00:22:44,000
Speaker 1: point seven percent?

435
00:22:45,600 --> 00:22:46,920
Speaker 2: What's the rate of return right now?

436
00:22:46,960 --> 00:22:47,280
Speaker 1: Going on?

437
00:22:47,320 --> 00:22:50,399
Speaker 2: What's going on with the market? That's actually if you

438
00:22:50,440 --> 00:22:52,520
Speaker 2: look at the S and P or the Dow, are

439
00:22:52,520 --> 00:22:55,920
Speaker 2: you outperforming the benchmark? And I don't know what time

440
00:22:55,920 --> 00:22:58,639
Speaker 2: period we're talking about here, so you're you're looking for that.

441
00:22:58,960 --> 00:23:01,280
Speaker 2: You just said you're invest mint or Cynthian. You said

442
00:23:01,280 --> 00:23:01,640
Speaker 2: it just.

443
00:23:01,680 --> 00:23:04,639
Speaker 1: Over a decade. I've been invested since.

444
00:23:05,000 --> 00:23:08,159
Speaker 2: Okay, twenty fourteen, and you've had about eleven point nine

445
00:23:08,200 --> 00:23:11,320
Speaker 2: percent return. Yeah, okay, what does a checking account pay

446
00:23:11,359 --> 00:23:11,840
Speaker 2: you right now?

447
00:23:12,440 --> 00:23:13,399
Speaker 1: Like negative money?

448
00:23:13,440 --> 00:23:17,399
Speaker 2: Okay, here's your answer. Yeah, yeah, you are doing better

449
00:23:18,200 --> 00:23:19,600
Speaker 2: then if you were just sitting in cash and you're

450
00:23:19,640 --> 00:23:22,639
Speaker 2: checking account. I go from that basic level of like

451
00:23:23,480 --> 00:23:27,520
Speaker 2: pat yourself on the back. Great, I have performed where

452
00:23:27,640 --> 00:23:31,080
Speaker 2: my cash and my investment are doing better than if

453
00:23:31,119 --> 00:23:34,399
Speaker 2: I had just sat in cash. Right, I also didn't

454
00:23:34,400 --> 00:23:38,800
Speaker 2: spend it. That's amazing, Right, this is going towards something, right,

455
00:23:38,840 --> 00:23:42,040
Speaker 2: So I'm like, I'm building a future for myself right

456
00:23:42,359 --> 00:23:45,080
Speaker 2: and it's doing better than cash, and it's doing better

457
00:23:45,119 --> 00:23:46,960
Speaker 2: than the markets, like you know, the benchmark of the

458
00:23:46,960 --> 00:23:49,480
Speaker 2: markets right now. So that's okay. And by the way,

459
00:23:49,520 --> 00:23:51,359
Speaker 2: that eleven point nine that you're looking at at some

460
00:23:51,480 --> 00:23:54,000
Speaker 2: periods might have been at twenty one, might have been

461
00:23:54,320 --> 00:23:57,439
Speaker 2: at eighteen. Right now, it's eleven point nine because of

462
00:23:57,440 --> 00:23:59,400
Speaker 2: where we are in this market today. But it's still

463
00:23:59,440 --> 00:24:02,320
Speaker 2: doing better. And if you had done nothing, it's doing

464
00:24:02,359 --> 00:24:05,520
Speaker 2: better than if you were in cash. So this isn't

465
00:24:05,560 --> 00:24:10,440
Speaker 2: about the big win every moment right now. But you're

466
00:24:10,480 --> 00:24:12,960
Speaker 2: doing very responsible growth. That's great.

467
00:24:13,960 --> 00:24:16,760
Speaker 1: Yeah, one year it's up fourteen percent. This is when

468
00:24:16,760 --> 00:24:18,520
Speaker 1: I start to toggle and I'm like, oh, well in

469
00:24:18,600 --> 00:24:20,800
Speaker 1: the past year. I think I looked in here one

470
00:24:20,800 --> 00:24:22,880
Speaker 1: time and it was like twenty percent, but it had

471
00:24:22,920 --> 00:24:25,879
Speaker 1: been a big dip right before you.

472
00:24:26,080 --> 00:24:29,520
Speaker 2: Is I'd say to you, Mandy, Yeah, when you started

473
00:24:29,520 --> 00:24:35,160
Speaker 2: this commitment in ten years ago, you know, your hope

474
00:24:35,200 --> 00:24:38,959
Speaker 2: and goal was to when we're going to actually need

475
00:24:39,000 --> 00:24:40,240
Speaker 2: access or use of this money.

476
00:24:41,800 --> 00:24:44,359
Speaker 1: Well, I think in an ideal world, we wouldn't access

477
00:24:44,400 --> 00:24:47,760
Speaker 1: it until we are living off of it to supplement retirement.

478
00:24:48,119 --> 00:24:51,280
Speaker 2: Okay, so you've got time. So what you could say

479
00:24:51,280 --> 00:24:53,240
Speaker 2: to yourself is like, oh, am I being aggressive enough?

480
00:24:53,680 --> 00:24:57,520
Speaker 2: You know I do have ten or fifteen year time horizon, so.

481
00:24:57,720 --> 00:25:00,880
Speaker 1: Excuse me, emo, I have more than that.

482
00:25:02,160 --> 00:25:04,160
Speaker 2: I'm saying as to when you may want, like at

483
00:25:04,200 --> 00:25:07,200
Speaker 2: a minimum ten to fifteen. So it's less about retirement,

484
00:25:07,240 --> 00:25:09,520
Speaker 2: but when would you actually get to the point, And

485
00:25:09,560 --> 00:25:12,560
Speaker 2: it could be like retirement, by the way, is different

486
00:25:12,560 --> 00:25:15,359
Speaker 2: for everybody. Retirement could be I only want to do

487
00:25:15,359 --> 00:25:16,800
Speaker 2: this for another five to ten years. So I'm going

488
00:25:16,840 --> 00:25:18,840
Speaker 2: to go back to those questions of the time horizon

489
00:25:19,200 --> 00:25:22,240
Speaker 2: is a critical thing we need to distinguish for retirement

490
00:25:22,280 --> 00:25:26,480
Speaker 2: means completely different numbers to every single person. Right, you're

491
00:25:26,480 --> 00:25:28,360
Speaker 2: going to say, you know, I'm an entrepreneur, I've done

492
00:25:28,400 --> 00:25:31,239
Speaker 2: my thing, I want to be done by X and

493
00:25:31,280 --> 00:25:34,440
Speaker 2: I want to really focus on traveling and all these

494
00:25:34,440 --> 00:25:38,720
Speaker 2: other things. So one, you're starting at an incredible place,

495
00:25:38,760 --> 00:25:40,600
Speaker 2: so I'm happy you're willing to share that. Like that

496
00:25:40,680 --> 00:25:43,360
Speaker 2: number is a great number, by the way, eleven point

497
00:25:43,400 --> 00:25:43,879
Speaker 2: nine percent.

498
00:25:44,280 --> 00:25:45,560
Speaker 1: And then you'd say, I was going to say, what

499
00:25:45,560 --> 00:25:47,159
Speaker 1: am I sharing my screen? Oops? I didn't know to

500
00:25:47,200 --> 00:25:50,800
Speaker 1: tell you, Okay, what.

501
00:25:50,720 --> 00:25:52,920
Speaker 2: You stated, which is a really great way.

502
00:25:52,920 --> 00:25:54,439
Speaker 1: I wouldn't want to share my screen.

503
00:25:55,200 --> 00:25:57,240
Speaker 2: No, you just thought about no I want to should

504
00:25:57,280 --> 00:25:59,679
Speaker 2: share the screen. Told me the overall number, and that's

505
00:25:59,680 --> 00:26:02,640
Speaker 2: all that really matters, right, And then you could say

506
00:26:02,960 --> 00:26:05,920
Speaker 2: in order for me to retire comfortably and whatever date

507
00:26:05,960 --> 00:26:08,080
Speaker 2: you've given yourself, So I don't know, you know you

508
00:26:08,119 --> 00:26:11,320
Speaker 2: should identify that as a ten, fifteen, twenty years. I

509
00:26:11,560 --> 00:26:14,160
Speaker 2: need to be at X because this is the lifestyle

510
00:26:14,200 --> 00:26:15,880
Speaker 2: I plan on living on. And we know we get

511
00:26:15,880 --> 00:26:19,880
Speaker 2: into retirement stage, it's all decumulation, right, There's nothing coming

512
00:26:19,960 --> 00:26:22,840
Speaker 2: in anymore, and it's just all spending, right, And so

513
00:26:22,960 --> 00:26:25,320
Speaker 2: as I start preparing for that, I'm going to bring

514
00:26:25,359 --> 00:26:28,359
Speaker 2: down my everyday debt, right, so I have less that

515
00:26:28,400 --> 00:26:30,520
Speaker 2: I have to put out in that time period. Right.

516
00:26:30,560 --> 00:26:32,720
Speaker 2: So these are just all logical questions you're going to

517
00:26:32,840 --> 00:26:35,479
Speaker 2: ask yourself as you're thinking about the different ways that

518
00:26:35,520 --> 00:26:38,080
Speaker 2: you are going to need the money, the time you

519
00:26:38,080 --> 00:26:40,680
Speaker 2: will need it, and understanding if you really use the

520
00:26:40,720 --> 00:26:44,239
Speaker 2: word retirement, that really means that's where you just do

521
00:26:44,400 --> 00:26:47,320
Speaker 2: extreme spending at that point, right, because nothing is technically

522
00:26:47,400 --> 00:26:50,520
Speaker 2: coming in anymore. But you've created the lifestyle you want,

523
00:26:50,840 --> 00:26:52,800
Speaker 2: so based on that. By the way, if you're sitting

524
00:26:52,800 --> 00:26:55,600
Speaker 2: with a planner or you're dealing with your advisor or

525
00:26:55,600 --> 00:26:57,880
Speaker 2: somebody you're working with professionally, that's the question you want

526
00:26:57,880 --> 00:27:00,600
Speaker 2: to make sure you get answered. So when I go

527
00:27:00,760 --> 00:27:02,520
Speaker 2: back and I look at that number of eleven point

528
00:27:02,600 --> 00:27:05,119
Speaker 2: nine percent, I would know my mind, is that a

529
00:27:05,160 --> 00:27:07,159
Speaker 2: good thing or a bad thing? Because if I had

530
00:27:07,359 --> 00:27:09,720
Speaker 2: laid out in order for me to have this comfortable retirement,

531
00:27:10,200 --> 00:27:14,000
Speaker 2: my returns need to be X at that timing, right,

532
00:27:14,040 --> 00:27:16,199
Speaker 2: So that's a logical way to ask the question, so

533
00:27:16,240 --> 00:27:18,280
Speaker 2: that you know, is a eleven point nine percent good

534
00:27:18,280 --> 00:27:21,120
Speaker 2: to great? By the way it is, But let's pretend.

535
00:27:21,400 --> 00:27:23,679
Speaker 1: Yeah, but it's not like I'm now googling what's a

536
00:27:23,720 --> 00:27:27,600
Speaker 1: good return? It's more about what have I what's my

537
00:27:27,720 --> 00:27:30,000
Speaker 1: time horizon, how long do I am I going to

538
00:27:30,040 --> 00:27:32,240
Speaker 1: need this money for? And a steady rate of return

539
00:27:33,119 --> 00:27:35,240
Speaker 1: For me, I've always said like eight to ten percent,

540
00:27:35,359 --> 00:27:38,040
Speaker 1: So you know, it's like on average, So yeah, we're

541
00:27:38,040 --> 00:27:41,680
Speaker 1: doing better than that for my long term retirement, yeah

542
00:27:41,680 --> 00:27:43,520
Speaker 1: for sure. But yeah, if I was someone who wanted

543
00:27:43,560 --> 00:27:46,040
Speaker 1: to retire at forty five that gives me less than

544
00:27:46,040 --> 00:27:48,600
Speaker 1: a decade. I would be like, oh, dang, I need

545
00:27:48,600 --> 00:27:53,240
Speaker 1: to be doubling that. And then you're talking about finagling

546
00:27:53,280 --> 00:27:53,800
Speaker 1: some stuff.

547
00:27:54,080 --> 00:27:55,879
Speaker 2: Oh is that nagling? So when you say doubling up

548
00:27:56,000 --> 00:27:57,600
Speaker 2: a little bit more, then you'd have to then take

549
00:27:57,600 --> 00:28:00,679
Speaker 2: a look and say, okay, well, how my portfolio? How

550
00:28:00,760 --> 00:28:04,840
Speaker 2: much is fixed income versus equity versus alternative versus scruptured?

551
00:28:04,880 --> 00:28:05,000
Speaker 1: Right?

552
00:28:05,040 --> 00:28:07,080
Speaker 2: And that's when we start getting into the ideas that

553
00:28:07,119 --> 00:28:09,000
Speaker 2: you and I had started talking about in the beginning,

554
00:28:09,080 --> 00:28:11,880
Speaker 2: because if we felt comfortable and again I just said,

555
00:28:11,880 --> 00:28:14,439
Speaker 2: this is an opportunity in this market when you have

556
00:28:14,560 --> 00:28:17,399
Speaker 2: big volatility like this, there is opportunity for you to

557
00:28:17,440 --> 00:28:20,600
Speaker 2: pick up things like inequities. Right, and so is that

558
00:28:20,640 --> 00:28:23,119
Speaker 2: forty percent of your portfolio is a fifty sixty percent?

559
00:28:23,119 --> 00:28:23,760
Speaker 2: I have no idea.

560
00:28:23,840 --> 00:28:25,520
Speaker 1: Yeah, where can I see that? I want to see that,

561
00:28:26,280 --> 00:28:27,760
Speaker 1: I see balances.

562
00:28:27,960 --> 00:28:29,640
Speaker 2: It should give you a breakdown, like a little pie

563
00:28:29,680 --> 00:28:30,960
Speaker 2: chart that tells you.

564
00:28:31,280 --> 00:28:34,160
Speaker 1: My pie chart where is it? I swear always change.

565
00:28:34,160 --> 00:28:36,400
Speaker 1: I mean you shout out to them because they're cheap

566
00:28:36,440 --> 00:28:42,680
Speaker 1: for a reason. Sometimes their website.

567
00:28:40,480 --> 00:28:43,760
Speaker 2: You should ask that question, how concentrated am I in

568
00:28:43,840 --> 00:28:46,680
Speaker 2: a in a fixed income standpoint? How concentrated am I

569
00:28:46,680 --> 00:28:49,200
Speaker 2: in an equity standpoint? These are kind of even if

570
00:28:49,200 --> 00:28:50,960
Speaker 2: you can't do yourself, use the questions you should ask,

571
00:28:51,000 --> 00:28:53,160
Speaker 2: and you can call them up and ask that question

572
00:28:53,560 --> 00:28:57,520
Speaker 2: right back to my active right, but right, it.

573
00:28:57,480 --> 00:29:06,080
Speaker 1: Is your portfolio analysis. I'm so heavily in equities, lots

574
00:29:06,120 --> 00:29:07,520
Speaker 1: of lots of equity?

575
00:29:07,640 --> 00:29:10,120
Speaker 2: What percentage does?

576
00:29:10,120 --> 00:29:10,800
Speaker 1: This can't be right?

577
00:29:10,800 --> 00:29:13,240
Speaker 2: One can't be no, no, no, you just happen to

578
00:29:13,280 --> 00:29:16,960
Speaker 2: be in your equity section. That's talking about there should

579
00:29:17,000 --> 00:29:19,960
Speaker 2: be a holistic pie that shows you the overall.

580
00:29:19,760 --> 00:29:21,160
Speaker 1: It should just be on my dashboard.

581
00:29:21,240 --> 00:29:23,800
Speaker 2: Right, should be well, we might give them some feedback

582
00:29:23,840 --> 00:29:26,480
Speaker 2: on their design, but putting that aside, those are the

583
00:29:26,560 --> 00:29:29,600
Speaker 2: right questions you should be asking. And if you're over

584
00:29:29,640 --> 00:29:32,800
Speaker 2: concentrated in equities, that is like a higher risk portfolio.

585
00:29:32,840 --> 00:29:35,480
Speaker 2: So like le'll just use nomenclature that matters. If you're

586
00:29:35,520 --> 00:29:39,120
Speaker 2: heavy equities, you do have an aggressive portfolio, not good,

587
00:29:39,200 --> 00:29:41,160
Speaker 2: not bad, as long as you're okay with that. That

588
00:29:41,200 --> 00:29:44,040
Speaker 2: means that you definitely have a high risk tolerance.

589
00:29:44,200 --> 00:29:48,240
Speaker 1: Because concentrating I am one hundred percent in stocks when

590
00:29:48,360 --> 00:29:52,520
Speaker 1: you are a.

591
00:29:50,720 --> 00:29:57,920
Speaker 2: Hot what again? Why did.

592
00:29:57,960 --> 00:30:02,960
Speaker 1: I think I wasn't, And well that's quite girl, was

593
00:30:03,120 --> 00:30:08,760
Speaker 1: quite nothing happened. I think I wasn't. Like, yeah, I'm

594
00:30:08,800 --> 00:30:10,880
Speaker 1: looking at my See. The thing is, I don't work

595
00:30:10,920 --> 00:30:12,719
Speaker 1: in corporate anymore, and when I was in corporate, i'd

596
00:30:12,760 --> 00:30:14,960
Speaker 1: kind of choose the target date fund, right. I think

597
00:30:14,960 --> 00:30:17,680
Speaker 1: when I rolled everything over into this brokerage account.

598
00:30:17,480 --> 00:30:22,080
Speaker 2: Into what bucket? Good we we are having this conversation.

599
00:30:22,240 --> 00:30:25,520
Speaker 2: This is great. This would be a good time for

600
00:30:25,600 --> 00:30:28,080
Speaker 2: you to diversify, and you don't need to then go

601
00:30:28,160 --> 00:30:30,920
Speaker 2: heavy on the equities right now. There is great buying

602
00:30:30,960 --> 00:30:35,200
Speaker 2: opportunity for you to kind of with this volatility. I'd say,

603
00:30:35,320 --> 00:30:38,960
Speaker 2: give some protection with fixed income and bond. You just said.

604
00:30:42,160 --> 00:30:45,520
Speaker 1: This is right, Like that worked out great, But wait, bonds.

605
00:30:45,680 --> 00:30:49,600
Speaker 1: This whole tariff situation. God, there's like specific days of

606
00:30:49,640 --> 00:30:51,360
Speaker 1: the week when I really get it and I'm like, oh,

607
00:30:51,360 --> 00:30:55,560
Speaker 1: I understand the whole bond situation. Okay, but I do understand.

608
00:30:55,560 --> 00:30:58,080
Speaker 1: I think, ba, fan, we know that Treasury's bonds. That's

609
00:30:58,120 --> 00:31:00,800
Speaker 1: typically when you're like investing, you put your money there

610
00:31:01,400 --> 00:31:02,000
Speaker 1: and it grows the.

611
00:31:02,040 --> 00:31:04,920
Speaker 2: Safer and safer not give you as high of a

612
00:31:05,040 --> 00:31:07,960
Speaker 2: yield as equities. I mean that's the fundamental I'm the

613
00:31:08,120 --> 00:31:10,360
Speaker 2: most simplest definition to say why, Right, bonds are going

614
00:31:10,400 --> 00:31:12,760
Speaker 2: to be a little bit more protected, but you're not

615
00:31:12,760 --> 00:31:15,000
Speaker 2: going to see the big highs. Like when you said

616
00:31:15,040 --> 00:31:16,760
Speaker 2: I was up a twenty percent, Well that's because you

617
00:31:16,800 --> 00:31:18,840
Speaker 2: have a full equity portfolio. So you did see some

618
00:31:18,880 --> 00:31:22,320
Speaker 2: big highs right. Well with that, you can also see

619
00:31:22,360 --> 00:31:22,960
Speaker 2: big lows.

620
00:31:23,080 --> 00:31:23,240
Speaker 1: Right.

621
00:31:23,320 --> 00:31:27,200
Speaker 2: So I say that cautionarily because in this market right now,

622
00:31:27,840 --> 00:31:29,760
Speaker 2: and I don't know the number offhand, but it was

623
00:31:29,800 --> 00:31:32,000
Speaker 2: something like ten to eleven times at this point because

624
00:31:32,000 --> 00:31:36,480
Speaker 2: I forgot to keep counting. Since January, we've seen thousand

625
00:31:36,480 --> 00:31:40,080
Speaker 2: point swings intra day in the market. Yeah, if you're

626
00:31:40,120 --> 00:31:42,560
Speaker 2: an equity portfolio, like, thank god you're not looking every

627
00:31:42,560 --> 00:31:43,960
Speaker 2: ten seconds, that would cause me.

628
00:31:44,320 --> 00:31:47,920
Speaker 1: It was about it was a it was strategy. My

629
00:31:48,080 --> 00:31:49,360
Speaker 1: ignorance is the strategy.

630
00:31:49,920 --> 00:31:52,600
Speaker 2: My heart would swing a little bit if I'm a

631
00:31:52,720 --> 00:31:55,800
Speaker 2: hundred percent in equities when you're seeing swings like that, right,

632
00:31:56,160 --> 00:31:58,960
Speaker 2: And so that's why we're talking about the volatility has

633
00:31:59,000 --> 00:32:04,080
Speaker 2: been absolutely at a very high level since January, specifically

634
00:32:04,440 --> 00:32:06,920
Speaker 2: due to the tariff and some policy changes.

635
00:32:08,720 --> 00:32:11,360
Speaker 1: Hey, bafam, we're going to take a quick break, pay

636
00:32:11,400 --> 00:32:14,680
Speaker 1: some bills, and we'll be right back. All right, ba fam,

637
00:32:14,760 --> 00:32:15,280
Speaker 1: We're back.

638
00:32:15,360 --> 00:32:18,520
Speaker 2: I would say three things. Tarifs are important. But here's

639
00:32:18,560 --> 00:32:22,240
Speaker 2: the thing. We did see that the Administrative Administration made

640
00:32:22,280 --> 00:32:24,880
Speaker 2: a pause for the next ninety days. So July ninth

641
00:32:24,960 --> 00:32:27,120
Speaker 2: is like the day we all need to pay attention

642
00:32:27,560 --> 00:32:29,400
Speaker 2: of what ends up happening because there was a ninety

643
00:32:29,440 --> 00:32:32,280
Speaker 2: day pause. Is it going to be permanent policy or

644
00:32:32,320 --> 00:32:34,720
Speaker 2: is he going to reverse some of those things? So

645
00:32:34,800 --> 00:32:37,400
Speaker 2: that's going to be a thing one that we absolutely

646
00:32:37,760 --> 00:32:41,200
Speaker 2: need to pay attention to if so. And the reason

647
00:32:41,240 --> 00:32:44,600
Speaker 2: why that matters is corporates have not really what I

648
00:32:44,680 --> 00:32:47,959
Speaker 2: call with the tariffs, passed it on to the end

649
00:32:48,000 --> 00:32:50,560
Speaker 2: consumer yet because it's been ninety days, they're kind of

650
00:32:50,600 --> 00:32:53,120
Speaker 2: just trying to figure out what they can handle. After

651
00:32:53,320 --> 00:32:56,680
Speaker 2: ninety days, if it becomes permanent policy, that's when it

652
00:32:56,760 --> 00:32:59,719
Speaker 2: will get passed on to the individual. That's when we

653
00:32:59,760 --> 00:33:03,280
Speaker 2: then trigger things like inflation, and then we trigger things

654
00:33:03,280 --> 00:33:06,680
Speaker 2: like unemployment, then we trigger things like recession. Right those

655
00:33:06,920 --> 00:33:09,200
Speaker 2: So while it's tariffs and we're kind of like, ah,

656
00:33:09,240 --> 00:33:11,480
Speaker 2: what's the big deal in the July ninth, like that

657
00:33:11,640 --> 00:33:14,080
Speaker 2: really does put us back to the fear factor we

658
00:33:14,160 --> 00:33:18,680
Speaker 2: had about inflation, right, and so costs aret going up again, right,

659
00:33:18,720 --> 00:33:21,800
Speaker 2: and then does hit the individual, right, It's going to

660
00:33:21,880 --> 00:33:24,480
Speaker 2: cost more for goods and services to buy them. It's

661
00:33:24,480 --> 00:33:26,800
Speaker 2: going to cost more for companies to make the goods

662
00:33:26,800 --> 00:33:29,440
Speaker 2: and services their imports are going to come in with

663
00:33:29,800 --> 00:33:33,120
Speaker 2: like way more expensive you know, tariffs like China being

664
00:33:33,120 --> 00:33:35,280
Speaker 2: at one hundred and twenty five percent. All of that,

665
00:33:35,520 --> 00:33:38,400
Speaker 2: we start feeling it, right, And so that's why I

666
00:33:38,520 --> 00:33:41,640
Speaker 2: use the July ninth as an important opportunity and time

667
00:33:41,680 --> 00:33:43,760
Speaker 2: frame for us to look at and those of us

668
00:33:43,800 --> 00:33:46,080
Speaker 2: that are in one hundred percent equity portfolios. But I

669
00:33:46,160 --> 00:33:48,480
Speaker 2: want to make sure we have some fixed and incoming

670
00:33:48,560 --> 00:33:51,000
Speaker 2: bonds and other things to us.

671
00:33:51,320 --> 00:33:54,280
Speaker 1: So I actually go shopping for some boring bonds, got it?

672
00:33:54,800 --> 00:33:57,600
Speaker 1: So then I would just in my portfolio, I would buy,

673
00:33:58,280 --> 00:34:01,680
Speaker 1: I would sell my I mean it's pretty fast, Like

674
00:34:01,720 --> 00:34:04,760
Speaker 1: it's pretty simple to sell some of my equity and

675
00:34:04,760 --> 00:34:07,080
Speaker 1: then exchange it for I don't want.

676
00:34:07,520 --> 00:34:09,160
Speaker 2: And you should just go do that, right, So you

677
00:34:09,200 --> 00:34:11,200
Speaker 2: have the card, whoever are you using. I think it's

678
00:34:11,239 --> 00:34:14,200
Speaker 2: that it's worth having a conversation. But the same way we're.

679
00:34:14,040 --> 00:34:15,600
Speaker 1: Going yeah, slow me down, Slow me down.

680
00:34:15,960 --> 00:34:16,719
Speaker 2: I want to do that.

681
00:34:16,760 --> 00:34:20,280
Speaker 1: I want you to do it right now. I'm smart.

682
00:34:21,520 --> 00:34:25,440
Speaker 2: That's I wanting to seek advice right right, You're going

683
00:34:25,480 --> 00:34:27,520
Speaker 2: to ask the right questions because you're going in very

684
00:34:27,560 --> 00:34:29,720
Speaker 2: knowledgeable of Like, wow, you know this is a decision

685
00:34:29,760 --> 00:34:33,839
Speaker 2: I made some time back. I realize I'm completely concentrated

686
00:34:33,880 --> 00:34:37,480
Speaker 2: in equities. There's opportunity for me to like balance my

687
00:34:37,719 --> 00:34:42,160
Speaker 2: risk in this current market. You're just trying to balance risk, right,

688
00:34:42,239 --> 00:34:42,839
Speaker 2: So you're not.

689
00:34:42,760 --> 00:34:45,120
Speaker 1: Going to give a lot of millennials probably have this

690
00:34:45,239 --> 00:34:47,440
Speaker 1: problem that I have. No, it's not a problem. But

691
00:34:47,520 --> 00:34:50,600
Speaker 1: like we did the right thing by getting in early

692
00:34:51,239 --> 00:34:54,400
Speaker 1: and investing, like all, like we had lots of time.

693
00:34:55,160 --> 00:34:59,000
Speaker 1: But I'm thirty seven now, I got babies. That's our house.

694
00:34:59,440 --> 00:34:59,960
Speaker 2: You got time.

695
00:35:00,120 --> 00:35:01,800
Speaker 1: I can't be risk in the whole farm.

696
00:35:04,800 --> 00:35:06,759
Speaker 2: You could have other things in other places, right, You

697
00:35:06,760 --> 00:35:09,600
Speaker 2: could have real estate, you could have things in the market,

698
00:35:09,960 --> 00:35:13,640
Speaker 2: you could have things in other insurance that I don't

699
00:35:13,680 --> 00:35:14,200
Speaker 2: know about, Like.

700
00:35:14,239 --> 00:35:16,759
Speaker 1: We have investment properties. I have children. That is the

701
00:35:16,800 --> 00:35:19,320
Speaker 1: new Berken bag, Like that is the flex do you

702
00:35:19,400 --> 00:35:19,879
Speaker 1: know what I mean?

703
00:35:20,000 --> 00:35:21,360
Speaker 2: That's your five twenty nine.

704
00:35:22,200 --> 00:35:23,479
Speaker 1: Oh yeah, I do have one of those.

705
00:35:24,200 --> 00:35:27,120
Speaker 2: So yeah, that's your next like arc of planning.

706
00:35:27,200 --> 00:35:27,399
Speaker 1: Right.

707
00:35:27,440 --> 00:35:30,840
Speaker 2: So I think when in moments like this, because we

708
00:35:30,920 --> 00:35:34,480
Speaker 2: are feeling anxiety and uncertainty, look already, you're already feeling better,

709
00:35:34,560 --> 00:35:36,520
Speaker 2: Like I know more now I kind of know. I

710
00:35:36,560 --> 00:35:38,759
Speaker 2: just need to build a plan around it. Okay, now

711
00:35:38,800 --> 00:35:41,080
Speaker 2: I need to kind of have a discussion about it.

712
00:35:41,200 --> 00:35:43,120
Speaker 2: I'm not going to avoid it. But by the way,

713
00:35:43,200 --> 00:35:45,960
Speaker 2: I'm actually doing pretty well right now. So it's the

714
00:35:45,960 --> 00:35:48,319
Speaker 2: greatest time to kind of take a good review of

715
00:35:48,360 --> 00:35:50,640
Speaker 2: like your eleven point nine percent. Okay, this is a

716
00:35:50,640 --> 00:35:54,680
Speaker 2: good time because I'm outperforming the market and I'm doing

717
00:35:54,719 --> 00:35:56,440
Speaker 2: way better than if I was just sitting in cash.

718
00:35:56,440 --> 00:35:59,480
Speaker 2: So I want to one build the resiliency and confidence

719
00:35:59,480 --> 00:36:02,240
Speaker 2: if should feel good and you're spot on, I mean.

720
00:36:02,440 --> 00:36:05,839
Speaker 1: Apparently, how I was twenty four years old and I've

721
00:36:05,880 --> 00:36:10,400
Speaker 1: made one hundred and seventy thousand something dollars at that

722
00:36:10,400 --> 00:36:12,200
Speaker 1: that money is just money that I have now that

723
00:36:12,239 --> 00:36:13,880
Speaker 1: I didn't have, but I put in less than that

724
00:36:13,960 --> 00:36:14,719
Speaker 1: and now I have that.

725
00:36:14,960 --> 00:36:16,880
Speaker 2: You made your money work for you, right, That's the

726
00:36:16,880 --> 00:36:18,839
Speaker 2: important thing that we're always looking for. And you want

727
00:36:18,840 --> 00:36:19,799
Speaker 2: to make your money.

728
00:36:19,560 --> 00:36:20,239
Speaker 1: Work for you.

729
00:36:20,360 --> 00:36:24,719
Speaker 2: Growth, growth, growth, aspiration. And you said a really good

730
00:36:24,760 --> 00:36:27,200
Speaker 2: point about the difference in the generations, and you are

731
00:36:27,239 --> 00:36:30,880
Speaker 2: absolutely right. We did a study on women in investing,

732
00:36:30,920 --> 00:36:34,560
Speaker 2: which I speak specifically since for both women, and when

733
00:36:34,560 --> 00:36:37,880
Speaker 2: we take a look at women investing in the markets,

734
00:36:37,920 --> 00:36:41,280
Speaker 2: like what we're talking about for baby boomers, that number

735
00:36:41,480 --> 00:36:44,600
Speaker 2: was closer to like fifty percent of baby Boomers invested

736
00:36:44,640 --> 00:36:47,319
Speaker 2: in the market. As women, when we look at gen

737
00:36:47,440 --> 00:36:51,200
Speaker 2: Z it's like seventy one percent, right, So the exact

738
00:36:51,239 --> 00:36:54,640
Speaker 2: point that you're making, it's awesome, right, So as women

739
00:36:55,040 --> 00:36:57,759
Speaker 2: we have all much larger engagement in the markets than

740
00:36:58,560 --> 00:37:02,600
Speaker 2: than generations pride or right. But that also means we

741
00:37:02,680 --> 00:37:04,960
Speaker 2: now need to get involved in the active management side

742
00:37:04,960 --> 00:37:07,680
Speaker 2: of it too, because it is going to be part

743
00:37:07,760 --> 00:37:11,640
Speaker 2: of our wealth creation, which is wonderful and amazing, but

744
00:37:13,280 --> 00:37:16,239
Speaker 2: not giving it any of our attention is something we

745
00:37:16,280 --> 00:37:18,879
Speaker 2: don't want to also just drop and leave. Right. And

746
00:37:18,920 --> 00:37:22,799
Speaker 2: so you're spot on this generation Gen ZS and just

747
00:37:23,000 --> 00:37:28,040
Speaker 2: younger generation absolutely engaging in the market individually doing it themselves.

748
00:37:28,600 --> 00:37:31,360
Speaker 2: I also want to give permission to seek advice because

749
00:37:31,360 --> 00:37:34,960
Speaker 2: I do think there's a lot of individual self fulfillment

750
00:37:35,040 --> 00:37:37,800
Speaker 2: and you know, when we think about bold markets, everyone

751
00:37:37,840 --> 00:37:42,479
Speaker 2: looks brilliant, bear Markets gets tough. Yeah, this is kind

752
00:37:42,480 --> 00:37:44,520
Speaker 2: of right where we are right now, right, and so

753
00:37:46,040 --> 00:37:48,319
Speaker 2: it's important to say this might be the moment in

754
00:37:48,360 --> 00:37:51,359
Speaker 2: time where I do need to one stop and look

755
00:37:51,360 --> 00:37:52,839
Speaker 2: at what I have. So I just said, start opening

756
00:37:52,880 --> 00:37:54,719
Speaker 2: your statement. Did I not just do the simplest thing.

757
00:37:54,760 --> 00:37:56,800
Speaker 2: I didn't tell you had to be active and making decisions.

758
00:37:56,800 --> 00:37:59,680
Speaker 2: Just open the statement? Yeah, so thank you you did it.

759
00:38:00,760 --> 00:38:03,640
Speaker 1: I love. I just feel like people are listening to

760
00:38:03,680 --> 00:38:05,640
Speaker 1: the show right now and they're going to go home

761
00:38:05,640 --> 00:38:07,600
Speaker 1: and do the same thing. And I hope that. So

762
00:38:07,680 --> 00:38:09,040
Speaker 1: all we're going to do be a fan is like

763
00:38:09,040 --> 00:38:10,520
Speaker 1: we're going to open it, We're going to take a look.

764
00:38:10,560 --> 00:38:12,560
Speaker 1: We're going to have a little like you know, hopefully

765
00:38:12,560 --> 00:38:15,279
Speaker 1: a pat in the back moment. We're not and we're

766
00:38:15,320 --> 00:38:17,600
Speaker 1: not going to panic. We're going to not do anything.

767
00:38:17,719 --> 00:38:22,239
Speaker 1: Then we can just call the investment brokerage like and

768
00:38:22,360 --> 00:38:24,600
Speaker 1: I will just call my Vanguard people. They're pretty good

769
00:38:24,600 --> 00:38:27,000
Speaker 1: at bands ring the phone and say like, what do

770
00:38:27,000 --> 00:38:29,600
Speaker 1: you think I should do? John? And John will probably

771
00:38:29,600 --> 00:38:33,759
Speaker 1: tell me it's usually John or Sharon. It's Sharon. I

772
00:38:33,880 --> 00:38:37,000
Speaker 1: have yet to hear a Sharon, I don't know about Vanguardist.

773
00:38:37,160 --> 00:38:41,399
Speaker 1: You know my John's and my Tom's, but well, well

774
00:38:41,640 --> 00:38:45,359
Speaker 1: somebody will be there to help. Thank you for Jock.

775
00:38:45,719 --> 00:38:47,480
Speaker 2: Remember July ninth less paytent, all right, So.

776
00:38:47,480 --> 00:38:50,080
Speaker 1: Okay, by then we should be making moves now because

777
00:38:50,080 --> 00:38:53,040
Speaker 1: before July ninth is the goal, because July ninth we

778
00:38:53,040 --> 00:38:54,840
Speaker 1: don't know what's going to happen. It could be the

779
00:38:54,960 --> 00:38:56,719
Speaker 1: Y two K of the economy.

780
00:38:58,080 --> 00:38:59,880
Speaker 2: We'll see. But right to your point, it is a

781
00:39:00,040 --> 00:39:03,080
Speaker 2: big moment and so time now, which is great, and

782
00:39:03,120 --> 00:39:05,040
Speaker 2: what we're about, we should pay attention.

783
00:39:05,480 --> 00:39:07,399
Speaker 1: And I don't think we should be like buying now

784
00:39:07,520 --> 00:39:10,280
Speaker 1: like consumer goods that are going to get markedly more expensive.

785
00:39:10,320 --> 00:39:11,720
Speaker 1: I mean I'm not I don't need a new car.

786
00:39:12,719 --> 00:39:15,640
Speaker 1: I like my kids daycare expenses and my mortgage are

787
00:39:15,640 --> 00:39:17,319
Speaker 1: the biggest expenses that I have.

788
00:39:17,760 --> 00:39:20,600
Speaker 2: Yeah, so I think, like very importantly, as I said,

789
00:39:20,760 --> 00:39:23,600
Speaker 2: it's long term, short term, right, stay the course, don't

790
00:39:23,600 --> 00:39:24,560
Speaker 2: get our mortgage.

791
00:39:24,320 --> 00:39:26,840
Speaker 1: Rates fixed, so that can't change.

792
00:39:27,080 --> 00:39:29,600
Speaker 2: Rights, well, interest rates is a whole separate topic which

793
00:39:29,640 --> 00:39:32,239
Speaker 2: we should get into. And rates can change because we're

794
00:39:32,280 --> 00:39:34,400
Speaker 2: also as we're looking at what the Fed's going to

795
00:39:34,480 --> 00:39:37,120
Speaker 2: do will they cut rates, but.

796
00:39:37,239 --> 00:39:39,400
Speaker 1: Like my personal mortgage rate.

797
00:39:39,480 --> 00:39:42,520
Speaker 2: Oh, you can always refly. Like so if rates go down,

798
00:39:42,600 --> 00:39:44,520
Speaker 2: you have opportunity if rates day.

799
00:39:44,560 --> 00:39:46,880
Speaker 1: But I got one of them cute pandemic rates, so

800
00:39:46,960 --> 00:39:49,959
Speaker 1: then we should stay the course. I am hashtag stuck

801
00:39:50,000 --> 00:39:50,839
Speaker 1: going to start your home.

802
00:39:52,400 --> 00:39:54,080
Speaker 2: But see the fact that you know that you know

803
00:39:54,120 --> 00:39:57,719
Speaker 2: you're rate that's active like you, that's all wonderful, right,

804
00:39:57,960 --> 00:40:01,040
Speaker 2: And you know, okay, great, I know on the mortgage piece,

805
00:40:01,360 --> 00:40:04,680
Speaker 2: I actually we're fortunate. I was at a period where

806
00:40:04,680 --> 00:40:06,759
Speaker 2: the rates were rate where they should be, and we

807
00:40:06,840 --> 00:40:09,760
Speaker 2: all know rates are currently been going up. Right, We're

808
00:40:10,000 --> 00:40:12,640
Speaker 2: anticipating three rate cuts this year, at least, that's what

809
00:40:12,800 --> 00:40:15,360
Speaker 2: HSBC is saying and a few of the firms are saying.

810
00:40:15,560 --> 00:40:18,160
Speaker 2: But again with this market, we never know, right, So

811
00:40:18,560 --> 00:40:20,880
Speaker 2: if rates do get cut and you are in a

812
00:40:21,080 --> 00:40:24,359
Speaker 2: high rate mortgage, there could be opportunity there too, right,

813
00:40:24,480 --> 00:40:27,319
Speaker 2: because in a lower rate environment you could rEFInd. So

814
00:40:27,560 --> 00:40:30,919
Speaker 2: again back to paying attention to your situation and where

815
00:40:30,920 --> 00:40:32,920
Speaker 2: you are. But you have to know the facts in

816
00:40:33,000 --> 00:40:34,840
Speaker 2: order to figure out how do I respond to the

817
00:40:34,840 --> 00:40:37,080
Speaker 2: things that are happening. And no matter whether it's your

818
00:40:37,080 --> 00:40:39,680
Speaker 2: mortgage or your investments or all of the above. There's

819
00:40:40,040 --> 00:40:44,440
Speaker 2: absolutely opportunity, right, but just being and navigating is important

820
00:40:44,480 --> 00:40:45,640
Speaker 2: that we engage.

821
00:40:46,360 --> 00:40:52,120
Speaker 1: So what else can we talk about that's really important?

822
00:40:52,200 --> 00:40:55,319
Speaker 1: Like what do you? What do you? I mean, what

823
00:40:55,360 --> 00:40:57,400
Speaker 1: else do we need to know before this July ninth?

824
00:40:58,160 --> 00:41:01,640
Speaker 1: I mean send night strikes we turn into I just.

825
00:41:01,600 --> 00:41:04,439
Speaker 2: Said we should at least like be active and listen

826
00:41:04,520 --> 00:41:08,799
Speaker 2: to what actually happens there. And I think ultimately.

827
00:41:08,560 --> 00:41:11,320
Speaker 1: That's just a journalist in me trying to create panic.

828
00:41:11,400 --> 00:41:12,480
Speaker 1: You know what we do?

829
00:41:14,320 --> 00:41:17,200
Speaker 2: I am one about how do we ensure that with

830
00:41:17,280 --> 00:41:22,000
Speaker 2: the uncertainty and volatility we stay calm, right, Because I

831
00:41:22,080 --> 00:41:26,680
Speaker 2: think knee jerk reactions and emotional reactions in this market

832
00:41:26,960 --> 00:41:30,560
Speaker 2: will actually statistically show you doesn't work in your favor.

833
00:41:31,760 --> 00:41:36,240
Speaker 2: So that's why I want us to have logical, data

834
00:41:36,320 --> 00:41:40,520
Speaker 2: driven discussions and create a plan because the planning allows

835
00:41:40,560 --> 00:41:42,600
Speaker 2: you to feel like, am I okay. If I don't

836
00:41:42,640 --> 00:41:45,920
Speaker 2: need this for fifteen years, okay, am I okay? If

837
00:41:45,920 --> 00:41:49,239
Speaker 2: I need this in two years, okay, am I okay?

838
00:41:49,520 --> 00:41:53,120
Speaker 2: If I need to then actually be a little bit

839
00:41:53,160 --> 00:41:55,160
Speaker 2: more aggressive, because in order for me to do what

840
00:41:55,200 --> 00:41:57,040
Speaker 2: I want to do from a retirement standpoint. This has

841
00:41:57,080 --> 00:41:59,560
Speaker 2: me work in another ten years. That's not good, right,

842
00:41:59,680 --> 00:42:01,719
Speaker 2: That's not what you want. So these are just all

843
00:42:01,760 --> 00:42:04,960
Speaker 2: the natural questions you should be able to ask, speak

844
00:42:05,000 --> 00:42:10,160
Speaker 2: out loud and have some professionals share with you, and

845
00:42:10,200 --> 00:42:13,759
Speaker 2: by the way, be clear about who it is that

846
00:42:13,800 --> 00:42:16,040
Speaker 2: you feel comfortable talking about. So you have a Vanguard

847
00:42:16,120 --> 00:42:17,880
Speaker 2: card where I'm going to use yours as an example,

848
00:42:18,280 --> 00:42:20,160
Speaker 2: please pick up the phone on your Vanguard account. But

849
00:42:20,200 --> 00:42:23,520
Speaker 2: I do think having one professional person that can give

850
00:42:23,560 --> 00:42:25,799
Speaker 2: you advice on all of it, which I'm an advocate for.

851
00:42:25,880 --> 00:42:29,080
Speaker 2: As you know, I run wealth management, I run financial planning,

852
00:42:29,200 --> 00:42:33,359
Speaker 2: I run investments for HSBC. I do think having holistic

853
00:42:33,520 --> 00:42:35,640
Speaker 2: advice that allows you to create a plan for you

854
00:42:35,680 --> 00:42:38,440
Speaker 2: and your family. I always think is the is always

855
00:42:38,480 --> 00:42:40,719
Speaker 2: the right way to start, and getting a financial plan

856
00:42:40,719 --> 00:42:42,480
Speaker 2: doesn't cost you anything. I always say that to people.

857
00:42:42,680 --> 00:42:44,319
Speaker 2: You reach out to your advisor, you say I'd like

858
00:42:44,320 --> 00:42:47,279
Speaker 2: a plan. They can do a financial checkup on you

859
00:42:47,320 --> 00:42:49,920
Speaker 2: and like, look at a holistic plan. So there is

860
00:42:50,000 --> 00:42:52,359
Speaker 2: a lot of opportunities out there for that, and that's

861
00:42:52,400 --> 00:42:54,799
Speaker 2: the kind of questions we should be asking as individuals

862
00:42:54,880 --> 00:42:56,880
Speaker 2: versus like what should I buy I want to go.

863
00:42:56,960 --> 00:42:59,239
Speaker 2: I want to create a financial plan, right, and having

864
00:42:59,280 --> 00:43:01,319
Speaker 2: a plan for me my family allows me then to

865
00:43:01,360 --> 00:43:03,600
Speaker 2: go into like and then what should we be investing in?

866
00:43:03,840 --> 00:43:06,720
Speaker 2: Because now that I understand the plan, I understand your goals,

867
00:43:07,000 --> 00:43:09,600
Speaker 2: understand things you want to accomplish, and I understand the

868
00:43:09,600 --> 00:43:12,480
Speaker 2: things that you want to attain, then we build a

869
00:43:12,880 --> 00:43:16,759
Speaker 2: portfolio or an investment strategy around your plan. So that's

870
00:43:16,800 --> 00:43:17,759
Speaker 2: the advice i'd leave you with.

871
00:43:18,040 --> 00:43:21,400
Speaker 1: You know, get a holistic plan. Yeah, thank you. I

872
00:43:21,400 --> 00:43:23,000
Speaker 1: got to call it my financial planner. I got a

873
00:43:23,080 --> 00:43:24,040
Speaker 1: dust off her number.

874
00:43:25,200 --> 00:43:27,480
Speaker 2: Let's do a checkup. Just do a financial check checkup.

875
00:43:27,920 --> 00:43:28,120
Speaker 1: I know.

876
00:43:28,440 --> 00:43:30,359
Speaker 2: I don't want to make it seem way bigger.

877
00:43:30,040 --> 00:43:31,960
Speaker 1: If it comes like not going to the dentist and

878
00:43:32,000 --> 00:43:34,120
Speaker 1: then you're like no, no, no, But it's like, oh

879
00:43:34,160 --> 00:43:35,960
Speaker 1: but my teeth, they're going to think they're bad, so

880
00:43:36,000 --> 00:43:36,600
Speaker 1: I shouldn't go.

881
00:43:36,640 --> 00:43:38,920
Speaker 3: But that's a little checkup, right, I didn't say do

882
00:43:39,040 --> 00:43:45,000
Speaker 3: the whole diagnostis again, So yeah, life not on fire,

883
00:43:45,080 --> 00:43:48,120
Speaker 3: but like always great to have the conversation and bring

884
00:43:48,160 --> 00:43:50,080
Speaker 3: this stuff up at the kitchen table and chit chat

885
00:43:50,160 --> 00:43:52,440
Speaker 3: with your friends and ask people what they're doing, how

886
00:43:52,480 --> 00:43:56,080
Speaker 3: are they feeling because sharing this type of advice and discussion.

887
00:43:56,160 --> 00:43:57,960
Speaker 2: We do it on so many other things. For some

888
00:43:57,960 --> 00:44:01,640
Speaker 2: strange reason, we don't feel comfortable doing it on our finances,

889
00:44:01,680 --> 00:44:04,239
Speaker 2: and it should be something we're openly talking about. Don't

890
00:44:04,239 --> 00:44:07,160
Speaker 2: give numbers, that's your personal business, just like how are

891
00:44:07,200 --> 00:44:09,560
Speaker 2: you responding in this market? There's always something to learn

892
00:44:09,640 --> 00:44:10,200
Speaker 2: from each other.

893
00:44:10,520 --> 00:44:12,920
Speaker 1: That's why we're doing in that brown ambition. We're not scared.

894
00:44:14,520 --> 00:44:17,000
Speaker 1: One last thing with women of color in particular, is

895
00:44:17,000 --> 00:44:19,279
Speaker 1: there any advice that you want to leave us with?

896
00:44:20,200 --> 00:44:22,800
Speaker 2: Yeah, you know, I'm going to go with the same

897
00:44:22,920 --> 00:44:24,799
Speaker 2: you know, key advice that I gave you the first one,

898
00:44:24,800 --> 00:44:27,600
Speaker 2: which is is women. You know, we're engaging in the

899
00:44:27,640 --> 00:44:30,200
Speaker 2: markets in a much higher statistical way than we've ever seen.

900
00:44:31,400 --> 00:44:35,040
Speaker 2: Actually the segment or sector that has grown the most

901
00:44:35,080 --> 00:44:37,760
Speaker 2: if you think about women, men and people of color,

902
00:44:38,840 --> 00:44:42,160
Speaker 2: Blacks and African Americans have created strong wealth, especially since

903
00:44:42,200 --> 00:44:45,640
Speaker 2: post COVID, and so the question is how are we

904
00:44:45,719 --> 00:44:49,839
Speaker 2: investing that wealth. We've actually increased our home ownership as

905
00:44:49,840 --> 00:44:53,080
Speaker 2: well during this time period post COVID. Right, so while

906
00:44:53,120 --> 00:44:56,759
Speaker 2: we're doing slightly better, there's still a massive disparity gap

907
00:44:56,840 --> 00:45:01,480
Speaker 2: between you know black women or blacks and white, but

908
00:45:01,719 --> 00:45:05,480
Speaker 2: we are absolutely making strikes and I think I always

909
00:45:05,520 --> 00:45:08,440
Speaker 2: want to. I'm always reminding people, you know, how we're

910
00:45:08,480 --> 00:45:12,000
Speaker 2: and partly I call it the knowledge divide is kind

911
00:45:12,000 --> 00:45:15,799
Speaker 2: of going away with podcasts and the ability for you

912
00:45:15,840 --> 00:45:19,160
Speaker 2: to go on yourself and not have to sit down

913
00:45:19,239 --> 00:45:21,759
Speaker 2: and go to a bank or somewhere privately where they

914
00:45:21,800 --> 00:45:23,560
Speaker 2: share this information with you. The fact that you're doing

915
00:45:23,640 --> 00:45:26,640
Speaker 2: podcasts like this, it's a beautiful thing. We have access

916
00:45:26,960 --> 00:45:29,960
Speaker 2: to information that is really impacting our community in an

917
00:45:30,040 --> 00:45:34,200
Speaker 2: extremely important way. But we have a responsibility to our

918
00:45:34,239 --> 00:45:37,120
Speaker 2: community to make sure we're giving sound advice. Right. So

919
00:45:37,719 --> 00:45:40,560
Speaker 2: while I thank you for brown ambitions, it's always making

920
00:45:40,560 --> 00:45:42,080
Speaker 2: sure that you're bringing on the right people that are

921
00:45:42,080 --> 00:45:44,960
Speaker 2: giving sound advice, because we do not want to misinform

922
00:45:45,040 --> 00:45:47,000
Speaker 2: our community, especially in this time.

923
00:45:47,960 --> 00:45:54,480
Speaker 1: So we have a response. Absolutely. As fun and as

924
00:45:54,560 --> 00:45:56,600
Speaker 1: much as we want to make this about like as

925
00:45:56,640 --> 00:45:58,840
Speaker 1: comfortable talking about money as it is having a glass

926
00:45:58,840 --> 00:46:01,160
Speaker 1: of wine with your girlfriends, there is a lot of

927
00:46:02,080 --> 00:46:05,680
Speaker 1: responsibility and I do take that quite seriously when it

928
00:46:05,680 --> 00:46:08,279
Speaker 1: comes to bringing people onto the show.

929
00:46:08,280 --> 00:46:11,320
Speaker 2: And I'm questions right exactly, Yeah.

930
00:46:10,719 --> 00:46:14,640
Speaker 1: Which is why you're here. Thank you so much, Raquel

931
00:46:15,239 --> 00:46:20,200
Speaker 1: rachel odin HSBC. What's your title again? God is of.

932
00:46:22,719 --> 00:46:27,000
Speaker 2: No, that's my retirement plan. No, No, head of the

933
00:46:27,120 --> 00:46:32,719
Speaker 2: US for HSBC UH specifically for Wealth Private Banking Asset Management.

934
00:46:32,920 --> 00:46:35,719
Speaker 2: So I love this what we do, and I love

935
00:46:35,800 --> 00:46:38,759
Speaker 2: what you're doing, and it's important that I want this

936
00:46:38,800 --> 00:46:41,160
Speaker 2: as chitter chatter at the kitchen table over a glass

937
00:46:41,160 --> 00:46:43,520
Speaker 2: of wine to the point that you're making. So let's

938
00:46:43,560 --> 00:46:46,719
Speaker 2: make sure that we make it comfortable for us to

939
00:46:46,760 --> 00:46:49,719
Speaker 2: have uncertainty, but to talk about it. And that's the

940
00:46:49,719 --> 00:46:52,040
Speaker 2: biggest you know what I call aspect we could be

941
00:46:52,080 --> 00:46:54,319
Speaker 2: doing right now. So thank you for having me.

942
00:46:54,840 --> 00:46:59,879
Speaker 1: Thank you, Rachyle, thanks so much for joining us. Heyba fam,

943
00:47:00,080 --> 00:47:02,960
Speaker 1: how are we doing? Are y'all all right? After that

944
00:47:03,840 --> 00:47:07,480
Speaker 1: chat with Raquel, I'm not even gonna lie. I immediately

945
00:47:07,760 --> 00:47:11,280
Speaker 1: went to find the next available appointment for my financial

946
00:47:11,320 --> 00:47:12,880
Speaker 1: planner because I'm like, oh, I need to get my

947
00:47:12,920 --> 00:47:15,640
Speaker 1: stuff together. So I just want to thank Raquel again

948
00:47:15,680 --> 00:47:18,799
Speaker 1: for joining. Now Brown Ambition, it's your turn. Log into

949
00:47:18,800 --> 00:47:22,000
Speaker 1: those accounts, see what's all going on. If you need

950
00:47:22,239 --> 00:47:25,359
Speaker 1: or want to make a plan for yourself, take the

951
00:47:25,400 --> 00:47:29,080
Speaker 1: first step toward finding a financial planner who can help you.

952
00:47:29,080 --> 00:47:31,799
Speaker 1: You can contact whoever manages your account right now, so

953
00:47:31,840 --> 00:47:35,560
Speaker 1: if that's Fidelity Vanguard, you can take advantage potentially of

954
00:47:35,640 --> 00:47:39,360
Speaker 1: free financial planning resources that your company may offer or

955
00:47:39,400 --> 00:47:42,759
Speaker 1: your investment management company may offer. If you're like me

956
00:47:43,000 --> 00:47:45,240
Speaker 1: and you want to find a financial planner, I always

957
00:47:45,280 --> 00:47:48,520
Speaker 1: recommend people go to x Y Planning Network. That's where

958
00:47:48,520 --> 00:47:50,800
Speaker 1: I found my planner. You can also check out the

959
00:47:50,880 --> 00:47:56,560
Speaker 1: National Association of Personal Financial Advisors NAPFA and APFA. That's

960
00:47:56,560 --> 00:47:59,719
Speaker 1: a good place to start. And if y'all want to

961
00:47:59,760 --> 00:48:02,960
Speaker 1: share sure what your financial strategies are looking like or

962
00:48:03,000 --> 00:48:06,040
Speaker 1: what you've learned from this episode, please share on social media.

963
00:48:06,200 --> 00:48:09,640
Speaker 1: Tag me at Mandy Money at Brown Ambition Podcast as well.

964
00:48:10,120 --> 00:48:13,400
Speaker 1: You can email me Brownambition Podcast at gmail dot com.

965
00:48:13,640 --> 00:48:16,000
Speaker 1: And don't forget y'all can submit questions to the show

966
00:48:16,160 --> 00:48:19,720
Speaker 1: when we do our Brown Ambition QA episodes the BAQA

967
00:48:20,280 --> 00:48:23,080
Speaker 1: I will take those questions, so you can DM us

968
00:48:23,080 --> 00:48:27,480
Speaker 1: those questions on ig or again, email Brown Ambition Podcast

969
00:48:27,560 --> 00:48:32,840
Speaker 1: at gmail dot com. All right, rate, follow, subscribe, review,

970
00:48:33,320 --> 00:48:36,800
Speaker 1: subscribe on YouTube. All right, ba fam, I'll see y'all

971
00:48:36,800 --> 00:48:41,880
Speaker 1: next week for the latest episode and my Mental Wealth series.

972
00:48:42,440 --> 00:48:47,160
Speaker 1: Thanks so much, Bye okay Va fam, Thank you so

973
00:48:47,280 --> 00:48:49,560
Speaker 1: much for listening to this week's show. I want to

974
00:48:49,600 --> 00:48:54,080
Speaker 1: shout out to our production team, Courtney, our editor, Carla,

975
00:48:54,200 --> 00:48:58,200
Speaker 1: our fearless leader for idea to launch productions. I want

976
00:48:58,200 --> 00:49:02,480
Speaker 1: to shout out my assistant to Escalante and Cameron McNair

977
00:49:02,880 --> 00:49:05,160
Speaker 1: for helping me put the show together. It is not

978
00:49:05,560 --> 00:49:08,960
Speaker 1: a one person project, as much as I have tried

979
00:49:09,000 --> 00:49:12,520
Speaker 1: to make it so these past ten years. I need help, y'all,

980
00:49:12,920 --> 00:49:15,160
Speaker 1: and thank goodness I've been able to put this team

981
00:49:15,239 --> 00:49:18,080
Speaker 1: around me to support me on this journey and to

982
00:49:18,160 --> 00:49:21,200
Speaker 1: y'all bea fam. I love you so so, so so much.

983
00:49:21,880 --> 00:49:24,400
Speaker 1: Please rate, review, subscribe, make sure you're signed up to

984
00:49:24,400 --> 00:49:28,000
Speaker 1: the newsletter to get all the latest updates on upcoming episodes,

985
00:49:28,120 --> 00:49:33,239
Speaker 1: our ten year anniversary celebrations to come, and until next time,

986
00:49:33,600 --> 00:49:35,880
Speaker 1: Talk to you soon via buye