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Speaker 1: Hey, Hey, hey guys, It's me Tiffany and it's Manjo.

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Speaker 1: We just want to say thank you guys. You guys

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Speaker 1: are amazing thanks to you. Since we started our podcast,

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Speaker 1: it was just me and Mandy listening to ourselves to

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Speaker 1: now we get over one hundred thousand downloads a month,

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Speaker 1: and I know it seems like that's awesome, but we

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Speaker 1: can do even better.

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Speaker 2: And we have a favor to ask, just.

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Speaker 3: A tiny favor, if you could please share our show.

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Speaker 3: Share it on your social media. You can tag us

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Speaker 3: at Brown Ambition Podcast. Take a screenshot of the show

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Speaker 3: that you're listening to and share it on Twitter, on Insta,

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Speaker 3: on Facebook, tell a friend to tell a friend. You

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Speaker 3: can tag us on social media. We're at Brown Ambition

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Speaker 3: Podcast on Insta, at the BA Podcast on Twitter, and

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Speaker 3: of course our Facebook group. You can find us under

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Speaker 3: Brown Ambition. Don't forget to tag our personal handles too.

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Speaker 3: On Insta. I'm at Mandy Money Mandy with an Ie,

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Speaker 3: and Tiffany is at the Budget Nista. When you tag us,

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Speaker 3: we will share your post and help amplify it even further.

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Speaker 3: Thank y'all for all the love this is just gonna

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Speaker 3: help us give us that little extra brown boost.

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Speaker 1: Hey, hey, hey, I felt like I just something special.

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Speaker 2: We're back, We're black, We're brown, ambit.

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Speaker 3: I needed that we're brown as an ambition, right.

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Speaker 2: Yes, the hell Manas we've been gone for.

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Speaker 3: So long, I know, it does feel like it's been

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Speaker 3: a while. It's only been a couple of weeks, I guess,

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Speaker 3: but yeah, it's like you have another rio. I was

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Speaker 3: only gone for two weeks for the entire pregnancy or

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Speaker 3: the entire maternity leave. Listen, we did do an Instagram live,

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Speaker 3: but we did not. We could not save the audio.

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Speaker 3: We had technical difference.

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Speaker 1: Yes, honestly, Instagram is be ahater, especially when you do

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Speaker 1: one for like I guess, a decent amount of time.

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Speaker 1: Like my hands always shake whenever I do an Instagram

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Speaker 1: live after, like when I want to save it, because

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Speaker 1: sometimes Instagram's like Psyche can move to slow. It's gone rude,

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Speaker 1: I know. So you try to save it because you

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Speaker 1: have a choice. You can go straight to igtv or save.

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Speaker 1: But the problems they don't tell you is that if

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Speaker 1: you save it and want to upload it later to IGTV,

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Speaker 1: it doesn't let you if it's over fifteen minutes. So

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Speaker 1: like in the moment, you have to go direct to

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Speaker 1: IGTV and you have to think of a cap so

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Speaker 1: you have to make all these choices within like just

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Speaker 1: a few minutes, and it's very nerve wracking and needless

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Speaker 1: to say, I didn't make.

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Speaker 2: My choices ahead of time. I was like, oh, I

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Speaker 2: sho done this ahead of time?

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Speaker 3: Sweating right now. But look, a lot has happened since

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Speaker 3: the last time we were here, at least in podcast land,

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Speaker 3: and we have been teasing a little nugget of news.

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Speaker 3: I guess we can tell you guys. I mean, I

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Speaker 3: guess we kind of owe it to you. But a

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Speaker 3: piece of news that we dropped in the live that

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Speaker 3: I feel like Tiffany should definitely share is what's coming

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Speaker 3: up for you?

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Speaker 2: Yes? So wait which one? The book?

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Speaker 3: Girl? It's your announcement the book? Yeah? No, no, wait

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Speaker 3: hitting up Money magazine.

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Speaker 2: Oh, Money Magazine.

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Speaker 3: I'm like, there's too much good news. Go ahead.

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Speaker 2: So yes, your girl is the face? Oh gin.

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Speaker 1: You know it's so funny because we're taking February first,

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Speaker 1: which is beginning a Black History month. Okay, but your

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Speaker 1: girl is the face and the very first black woman

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Speaker 1: on the Money magazine cover by herself. I think they

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Speaker 1: had like a family wants like as like a stock

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Speaker 1: photo family. But yeah, I'm on the cover of Money magazine.

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Speaker 1: It's a digital magazine now, but it used to be like,

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Speaker 1: you know, like I used to buy Money magazine. So

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Speaker 1: it's just so crazy that, like, uh, to be on

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Speaker 1: the cover and what's what I love? It was like

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Speaker 1: such a blackly black black undertaking because Leela Nima, who

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Speaker 1: does my my, my, my makeup, black, Tanetta Bell, who

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Speaker 1: does all of our pictures, she actually did our our

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Speaker 1: our Brand Ambition picture that you see for you know,

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Speaker 1: the cover of Brand Ambition. Tanetta is black. My stylist

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Speaker 1: Tracy who's also my publicist. You know, she styled me

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Speaker 1: that day.

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Speaker 2: Black. It just it was amazing And.

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Speaker 1: To see the cover, it's just it's just surreal because

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Speaker 1: I was an awkward kid who always thought that there

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Speaker 1: was something wrong with my the like the darkness of

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Speaker 1: my skin and the kinkiness of my hair, and so

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Speaker 1: for it to be on the cover of a magazine like,

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Speaker 1: oh but it's cute girl, it's kind of surreal.

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Speaker 2: So that's awesome news.

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Speaker 3: I'm still I'm still so in awe. That is huge, huge, huge, huge.

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Speaker 3: The first black woman on Money magazine. I was hummed

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Speaker 3: because my oh, you're gonna love this. Me and my cousin.

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Speaker 3: Actually we were going to do a vision board. Well,

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Speaker 3: we actually did do vision We had a vision board

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Speaker 3: party on Friday and we were at CVS looking in

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Speaker 3: the magazine aisle and I was like, where's money. I

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Speaker 3: want to get the money magazine. I didn't realize you

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Speaker 3: couldn't get the actual business. I know, can they like

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Speaker 3: make one if you order it? I know.

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Speaker 1: Well, it's because now you know how all magazines basically,

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Speaker 1: no magazines are making money anymore.

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Speaker 3: So they're expensive too. We spend ninety dollars on like

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Speaker 3: a few magazines. I was like, so this is why

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Speaker 3: they're dying.

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Speaker 1: Yeah, because they're running at Yeah, it's just so most

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Speaker 1: of them are just digital. But it's still like just

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Speaker 1: such an amazing hon ourselves.

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Speaker 3: That's huge. TIFFs so huge. So Coy yes and the

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Speaker 3: other news for us for Brown Ambition. So we have

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Speaker 3: been you guys know, we've been independent forever and we've

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Speaker 3: done the show well, I mean, I'm not even going

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Speaker 3: to pretend like you know, we were podcasting experts. In

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Speaker 3: the beginning. We did a lot of We chatted about

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Speaker 3: the beginning of Brown Ambition actually during our fifth year

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Speaker 3: anniversary show in September, so I definitely recommend going back

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Speaker 3: and checking that episode out for like the beginnings of BA.

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Speaker 3: But we have been independent. I wait, how do you

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Speaker 3: spell it way?

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Speaker 2: What you know about me?

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Speaker 3: That's hilarious, I can't spell it anyway. For over five

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Speaker 3: years now, we had worked with an ad agency because

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Speaker 3: you know, it's cute to make money sometimes so and

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Speaker 3: to keep the show free to you guys and relatively

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Speaker 3: affordable to produce. We started to work with an ad agency,

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Speaker 3: but we started to feel like it would be nice

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Speaker 3: to get the support and I don't know, the support

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Speaker 3: and muscle of a podcast network to actually help the

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Speaker 3: show take it to the next level, because you guys

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Speaker 3: have really made Brown Ambition what it is through word

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Speaker 3: of mouth. And yes, we get some love from the

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Speaker 3: podcast networks throughout the year and all of that, but

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Speaker 3: it's really been our early listeners who have just like

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Speaker 3: told a friend to tell a friend and have been

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Speaker 3: building and growing with us ever since you know, we started. However,

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Speaker 3: we're very, very excited because we finally signed a deal

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Speaker 3: with a new podcast network. Yeah, Adia you probably haven't

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Speaker 3: heard of them, but they are a huge, huge, huge

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Speaker 3: in the radio space and they have a podcast network

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Speaker 3: they are called Westwood One, which is the behind the

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Speaker 3: scenes face of Cumulus Media. So we're very excited about

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Speaker 3: Westwood One. And we have to give them a big,

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Speaker 3: big shout out for taking Brown Ambisi on and yeah,

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Speaker 3: loving the show and we're excited to work with them

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Speaker 3: and stay tuned for more.

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Speaker 1: Yeah, I'm excited about that because it's like, you know,

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Speaker 1: we've been doing this for some time. We've built like

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Speaker 1: this nice juggernaut of like an audience, and now it's like, okay,

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Speaker 1: you know, we this is just the next level for us.

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Speaker 2: I'm excited to take you guys alone for the ride.

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Speaker 3: Yeah. And if you know, if you're wondering, okay, have

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Speaker 3: you guys sold out, Like what does this mean? It

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Speaker 3: doesn't mean that we've sold out at all, honestly. If anything,

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Speaker 3: if you brand ambition, you should be very very excited

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Speaker 3: for us because this is just going to help us

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Speaker 3: get this show in front of more people that can

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Speaker 3: share in the joy and share in the bea goodness

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Speaker 3: that we share each week. And Westwood One, you know,

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Speaker 3: and maybe we should we can be like candid about this.

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Speaker 3: I mean, Tiffany and I had lots and lots of

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Speaker 3: discussions not just with Westwood One, but other networks as

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Speaker 3: well over the past, like when did I start this process,

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Speaker 3: like August, July or August, talking in different networks, and

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Speaker 3: we were very adamant that, you know, we want to

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Speaker 3: retain autonomy over you know, what kind of shows we do,

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Speaker 3: of course, what kind of brands we advertise, because that's

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Speaker 3: important to us. You know, we don't want to talk

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Speaker 3: about a brand that we don't like or that isn't

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Speaker 3: going to be good for you guys. So yeah, and

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Speaker 3: so we retain that independence and that was really and

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Speaker 3: truly you know, important to us.

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Speaker 1: No, it is, and I'm really because we've seen all them.

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Speaker 1: I mean, everybody watched What Is It Unforgivable with Dave

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Speaker 1: Chappelle and you've heard about like Kanye complaining about not

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Speaker 1: having ownership. He just I just didn't want that for

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Speaker 1: for me, for Mandy and for the projects that we

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Speaker 1: do moving forward.

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Speaker 2: So we were just really.

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Speaker 1: Adamant that, you know, it's not just creative control, but

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Speaker 1: like ownership of what we create.

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Speaker 2: And so we're just I'm just proud of us. I

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Speaker 2: feel like we're we are.

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Speaker 1: We are out of our teenage podcast years and now

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Speaker 1: we're into our young adult podcast podcast journey.

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Speaker 3: Yes, I'm excited for the next chapter with you, Tiffany.

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Speaker 3: And here's to another five years, ten years. I don't

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Speaker 3: know what will be podcasting on Mars. Maybe in the Tesla,

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Speaker 3: I don't know. Maybe And yeah, and it's been a

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Speaker 3: big it's been a big month for me too. I

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Speaker 3: actually left my job, my longtime job of five years

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Speaker 3: at lending Tree. For those of you who I don't,

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Speaker 3: I wasn't suit. I didn't always talk about work, but

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Speaker 3: for a long time I was a senior content director

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Speaker 3: at a company called lending Tree. And I came to

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Speaker 3: lending Tree through Magnified Money, which my Magnified Money, which

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Speaker 3: Tiffany and I both have connections too, because I joined.

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Speaker 3: I was like one of the first four or five

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Speaker 3: employees at Magnified Money in twenty sixteen, and they hired

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Speaker 3: me to run their content. And that was the same

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Speaker 3: year when Magnified Money partnered with Tiffany with the second

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Speaker 3: or third Liverature Challenge maybe edition.

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Speaker 2: Yeah, that was the third one.

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Speaker 3: Yeah, And so when I when I joined, I remember

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Speaker 3: them being like, okay, cool. One of the first things

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Speaker 3: you can do is create content for this partnership with

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Speaker 3: you know this lady named the Budgetista. I'm like, do

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Speaker 3: I eber so? Yeah, Magnified Money was so good to me.

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Speaker 3: And they were acquired by lending Tree a year after

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Speaker 3: I joined, And I mean, I got to grow that

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Speaker 3: team from two to over thirty and it's just been

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Speaker 3: such an amazing journey. And I feel like every career

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Speaker 3: question we got the past few months from people, I

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Speaker 3: was sort of, you know, I was in the same position,

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Speaker 3: you know, wondering when's the right time to make a

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Speaker 3: move and and you know, what will the next move be?

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Speaker 3: And we'll find you know, will you find true happiness

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Speaker 3: now that you've had some time to Like, I really

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Speaker 3: have had time to figure out what I like and

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Speaker 3: don't like about what I'm doing or where my strengths are.

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Speaker 3: And I'm not prepared to announce anything right now. I'm

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Speaker 3: not allowed to technically announce anything right now, But hopefully

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Speaker 3: by next week's show, I'll be able to share with

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Speaker 3: you guys what is next for me. But I will

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Speaker 3: tell you that it's very, very.

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Speaker 2: Exciting yeah, it's very exciting.

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Speaker 3: Yes, yes, yes, so lots and lots of stuff going on,

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Speaker 3: but good stuff. And yeah, twenty twenty one is gonna

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Speaker 3: be eyed if we just don't catch COVID and die.

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Speaker 2: Oh god, So.

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Speaker 1: Speaking of craziness in twenty twenty, you want to talk

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Speaker 1: about what everybody's been talking about?

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Speaker 2: Game stop? Shorting all of that headphones.

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Speaker 3: We have to talk about game stop. Yes. Two of

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Speaker 3: my cousins were like, what is this game stop situation?

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Speaker 3: I can't wait? Game stock? I keep calling it game

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Speaker 3: stock because all the stock anyway, game stop? Yes, everyone

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Speaker 3: has been talking about this. Do you want to tee

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Speaker 3: it up? Like, what's the what's the background tip as

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Speaker 3: you understand it?

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Speaker 1: Well, the background tip as I understand it, is that

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Speaker 1: you have to just so there's two types of investing.

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Speaker 1: Well there's many, but two core types. There's like the

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Speaker 1: long position. That's when you like buy and that's when

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Speaker 1: you buy and hold. This is like if you think

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Speaker 1: of oh, who's that old guy, the oracle of Amaha.

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Speaker 3: What's his name, Warren Buffett?

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Speaker 1: There you go, so like Warren Buffett, right, he's the

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Speaker 1: king of that. Like you buy good stock at a

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Speaker 1: discount you hold, hold, hold the stock. You know, the

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Speaker 1: stock increases in value. So that's his position, and honestly,

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Speaker 1: that's what most people. You know, when you think about investing,

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Speaker 1: you think long term, so in five years or more, right,

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Speaker 1: But then there's some folks who take the short position,

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Speaker 1: and that's when you're kind of getting you know, wanted

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Speaker 1: to make your money now, it's more speculative. A lot

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Speaker 1: of hedge funds navigate in this space. So when you're

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Speaker 1: taking the short position, or if you're shorting a stock,

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Speaker 1: you're with okay. When you're taking a long position, you're

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Speaker 1: hoping the stock goes up in value because you bought

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Speaker 1: a four dollar you wanted to go up to two

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Speaker 1: dollars and three thousand four dollars. But when you short

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Speaker 1: a stock, you're actually hoping the stock goes down in

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Speaker 1: value because you borrowed the stock at a certain amount,

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Speaker 1: So you don't really you're not you haven't paid for it,

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Speaker 1: but you've borrowed a stock at a certain amount, and

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Speaker 1: you're hoping for it to go down so you can

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Speaker 1: pocket the difference when you do buy it and when

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Speaker 1: you do give it back. So it's like I borrow

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Speaker 1: the stock at two dollars the stock price went down

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Speaker 1: to one dollar. You know, I pay for the for

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Speaker 1: the one dollar stock, and I'm able to give the

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Speaker 1: person back there too, But I basically I made a

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Speaker 1: dollar off each stock. So it's when you get to

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Speaker 1: borrow a stock and pay and get to keep pocket

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Speaker 1: the difference because the stock has gone down.

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Speaker 3: Girl, as many times as if I have heard so

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Speaker 3: many people explain this to me and read about it,

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Speaker 3: I'm still just like short got it, Like it's just

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Speaker 3: it's crazy. Well, it's crazy. It's like it's very sophisticated

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Speaker 3: investing that is typically done by like sophisticated investors like

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Speaker 3: hedge funds, Like Tiffany said, but I just the intersection

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Speaker 3: between Wall Street and Reddit just like collided with this

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Speaker 3: whole game saying and they're calling it robinhood has been

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Speaker 3: like it's being dragged for days over their reactions. So

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Speaker 3: what so basically talk about you know, game stop and

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Speaker 3: how Reddit and how I don't know, like the David's

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Speaker 3: of America decided to use this like hedge fund shorting

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Speaker 3: strategy to beef up game stops value and and and

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Speaker 3: take the stock to new heights and basically make these

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Speaker 3: hedge funds lose like billions and billions of dollars.

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Speaker 1: So one hedge fund in particular, Melvin Capitol, Right, So

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Speaker 1: they were shorting gamestock like crazy short short short, so,

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Speaker 1: which means that they're betting on game stock losing its value,

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Speaker 1: which is kind of mean when you think about it.

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Speaker 1: It's almost like someone comes to your basketball game when

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Speaker 1: you're a kid and bets against you losing, like, yesh,

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Speaker 1: they're gonna lose by two points.

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Speaker 2: Look, oh, they gotta lose bout one point.

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Speaker 1: And not only just that, but kind of manipulate the

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Speaker 1: market so you can lose. So let's not pretend like

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Speaker 1: they're just waiting and hoping and crossing your fingers.

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Speaker 2: Now there's market manipulation.

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Speaker 1: So because the purpose of the short is I want

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Speaker 1: your stock to go down so I can pocket the

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Speaker 1: difference of the stock that I borrored against you. And

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Speaker 1: so it's mean and it's nasty, and it's you know,

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Speaker 1: low bar investing if you ask me, which you haven't,

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Speaker 1: but I'm telling you anyway. So, people on Reddit, there's

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Speaker 1: this group called Wall Street Bets. It's about four hundred

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Speaker 1: four million members, mostly guys. From what I can see,

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Speaker 1: you know, they started to get kind of pissy and

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Speaker 1: they were just like, why is it that these hedge

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Speaker 1: funds get to bet on good companies going down and

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Speaker 1: then encouraging these good companies to go down.

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Speaker 2: I don't like it.

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Speaker 1: How about if we started to buy game stock stock,

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Speaker 1: so as you know, one of the reasons, well, there's

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Speaker 1: so many reasons why stocks can go up and down,

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Speaker 1: but certainly stocks being purchased in mass is one of

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Speaker 1: the reasons why a stock's price can go up, and

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Speaker 1: so that's what they decided to do independently, like I

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Speaker 1: think we should just buy.

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Speaker 2: So people were buying and buying and buying.

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Speaker 1: Now, remember the only way that if you're shorting a

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Speaker 1: stock that you make money is when the stock goes down,

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Speaker 1: because you get to save the difference. Now, if the

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Speaker 1: stock goes up, that means you actually have to pay

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Speaker 1: back the person that you borrowed that amount of money.

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Speaker 2: So you actually can.

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Speaker 1: Lose, and lose by a lot because you let's just say,

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Speaker 1: if you have like a long position, you invest a

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Speaker 1: thousand dollars and the stock goes to zero, you just

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Speaker 1: lost a thousand, that's it.

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Speaker 2: But if you're shorting a stock, and you borrow ten

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Speaker 2: stocks and you borrow.

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Speaker 1: Them for twenty dollars, and you tell yourself, you know what,

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Speaker 1: the stocks can't go down to five dollars, So when

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Speaker 1: it goes down to five, you know, you give them

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Speaker 1: back there their twenty dollars stock.

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Speaker 2: You get to keep fifteen for yourself.

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Speaker 1: But if that stock goes up to twenty, goes up

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Speaker 1: to thirty, and you borrored it for twenty, now you

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Speaker 1: owe ten dollars per stock. So you can actually own

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Speaker 1: infinite amount of money because stocks can theoretically go up

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Speaker 1: as much as possible, you know. So that's what the

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Speaker 1: game stoppers were trying to do, Like they're trying to

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Speaker 1: force like Melvin Melvin Capital, that hedge fund in particular,

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Speaker 1: to basically bankrupt because we're going.

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Speaker 2: To make the stock.

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Speaker 1: You you bought this stock for say five dollars a share,

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Speaker 1: Melvin Capital by the time, like I mean, the last

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Speaker 1: like the high sight saw the stock goal was four

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Speaker 1: hundred and something dollars. That means they were for each

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Speaker 1: stock they had in the hole for three.

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Speaker 2: Hundred and fifty then fifty dollars.

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Speaker 1: That's insane, literally billions of dollars in the hole because

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Speaker 1: eventually you have to give back what you borrowed and

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Speaker 1: pay what you said you were going to pay.

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Speaker 2: You know what the stock is actually worth now?

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Speaker 3: And if so many additional questions about this whole thing.

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Speaker 3: I'm just but I don't want to get like into

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Speaker 3: the weeds, weed weeds, and so it was, but I

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Speaker 3: definitely want to know, like, man, how does this work?

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Speaker 2: So you borrow?

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Speaker 3: But does the bar work? Okay, I won't ask.

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Speaker 1: But it was just crazy because and you know, so

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Speaker 1: of course, you know, these poor, poor wealthy heads from

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Speaker 1: people are like, oh, stock manipulation. Look, meanwhile, that's what

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Speaker 1: they've been doing literally forever. But it's only stock manipulation

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Speaker 1: when when Joe Schmos do it. But when they do

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Speaker 1: it when they try to drive a company out of

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Speaker 1: business so they can make money, it's all good. So

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Speaker 1: you know, that's what happened. And so and sure enough

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Speaker 1: Melvin Melvin capital that headphone and went out of business.

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Speaker 1: They had to get three billion dollars, well they have

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Speaker 1: to get three billion while they went out of business,

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Speaker 1: but they had to get close to three billion dollars infused.

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Speaker 1: And so at least for now, it looks like the

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Speaker 1: Wall Street bets guys have like tentatively won and so

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Speaker 1: now they're doing it for other stocks like AMC, the Theater, BlackBerry,

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Speaker 1: and so they're looking.

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Speaker 3: Some ecs back and beyond.

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Speaker 1: Yes, so they're basically just like if you look at

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Speaker 1: kind of like what they're saying, they're like, you can

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Speaker 1: no longer make it that no one else can win

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Speaker 1: but you, because that's what's been happening is that they're

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Speaker 1: a handful of very wealthy, mostly white men that have

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Speaker 1: controlled the market the up, the down, the side to side.

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Speaker 2: They have done so in just in a way that

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Speaker 2: just they win.

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Speaker 1: And there are a group of other people who realize,

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Speaker 1: you know what, there's only a handful of y'all. If

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Speaker 1: we act in masks together, we can win. And so

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Speaker 1: that's what they're trying to try to do. Now, some

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Speaker 1: people literally I know somebody who like you know, invested

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Speaker 1: five thousand dollars and got back a hundred and something thousand.

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Speaker 2: I mean, people were making big bank off of this. Now.

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Speaker 1: The thing about sure to remember it's or just even

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Speaker 1: in an investing in this kind of speculative way, because

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Speaker 1: let's be real, game stop is not worth four hundred

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Speaker 1: and thirty something dollars.

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Speaker 2: It's just not so you don't know.

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Speaker 1: Literally, within an hour it could be worth You bought

403
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Speaker 1: it for four hundred and thirty dollars thinking it's going

404
00:20:01,960 --> 00:20:04,800
Speaker 1: to go up, and within an hour it's worth twenty dollars. Again,

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Speaker 1: so you can lose a ton of money, you know,

406
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Speaker 1: when you invest in this way. But some people were

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Speaker 1: willing to take the risk. And you know, the way

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Speaker 1: the stocks works is that the bigger the real risk

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Speaker 1: the risk, the bigger the reward. I'm not I'm risk adverse.

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Speaker 1: So I was not playing that game. I was watching

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Speaker 1: from the sidelines, like okay, but.

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Speaker 3: Yeah, I didn't put it like once my cousins are

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Speaker 3: texting me the boat has sailed, like you should have

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Speaker 3: bought sales. Yeah, it's too late for me. It's fine.

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Speaker 3: I don't. I don't follow Reddit for stock tips, but

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Speaker 3: I do want to talk about because at this point

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Speaker 3: this has been going on for it went out, It

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Speaker 3: went on throughout January. It became national news in the

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Speaker 3: last couple of weeks. But people logged in or the

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Speaker 3: markets open today which is Monday, February first, and game

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Speaker 3: Stop was down one hundred dollars a share, so it

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Speaker 3: was down. Let me see, I have been in my notes.

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Speaker 3: It fell from three twenty eight to two twenty five today,

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Speaker 3: So that's a that's a thirty percent drop. I mean,

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Speaker 3: a three percent drop is a big deal for a stock.

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Speaker 3: So we're already kind of seeing maybe we've seen the peak.

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Speaker 3: Maybe we have, but part of me definitely feels like

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Speaker 3: this is a bit of a flash in the pan.

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Speaker 3: It was just like a perfect storm of events that

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Speaker 3: kind of came together. It made this whole thing a

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Speaker 3: viral moment. And I know that they're trying to do

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Speaker 3: it for other stocks. So my cousin was asking about

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Speaker 3: bed Bath and Beyond and I'm like, I don't know,

434
00:21:16,760 --> 00:21:18,560
Speaker 3: I want to take a look, and I mean bed

435
00:21:18,560 --> 00:21:21,600
Speaker 3: Bath and Beyond, BlackBerry and AMC are also are all

436
00:21:21,960 --> 00:21:24,720
Speaker 3: like thirty dollars stocks right now, They're not like they're

437
00:21:24,720 --> 00:21:29,359
Speaker 3: not as huge as game Stop. Is my biggest concern

438
00:21:29,440 --> 00:21:32,240
Speaker 3: because there's people who've made I mean you said thousands,

439
00:21:32,280 --> 00:21:34,199
Speaker 3: and I hate the word people because it kind of

440
00:21:34,600 --> 00:21:36,760
Speaker 3: like how many is it? I don't know for sure,

441
00:21:36,960 --> 00:21:39,480
Speaker 3: and I don't want to like make this a bigger

442
00:21:39,520 --> 00:21:41,760
Speaker 3: deal than it was. But there have been a few

443
00:21:41,800 --> 00:21:44,320
Speaker 3: at least that have made potentially millions of dollars on

444
00:21:44,440 --> 00:21:49,040
Speaker 3: this on this whole thing. But let's talk about taxes,

445
00:21:49,160 --> 00:21:51,160
Speaker 3: because you know, one of the things I was talking

446
00:21:51,160 --> 00:21:53,600
Speaker 3: to my cousin about is if you want to get

447
00:21:53,640 --> 00:21:55,800
Speaker 3: in and make money off of game Stop and like,

448
00:21:55,880 --> 00:21:58,360
Speaker 3: let's say you bought stock at the beginning of January

449
00:21:58,440 --> 00:22:00,080
Speaker 3: because you follow on Reddit and you just want to

450
00:22:00,119 --> 00:22:02,000
Speaker 3: get and you bought it at what was it five

451
00:22:02,320 --> 00:22:05,199
Speaker 3: ten dollars a share, and yeah, so you made you know,

452
00:22:05,280 --> 00:22:08,639
Speaker 3: thirty x your money. You don't really make that money

453
00:22:08,880 --> 00:22:11,480
Speaker 3: until you sell the stock. And in order to sell

454
00:22:11,480 --> 00:22:14,600
Speaker 3: the stock that soon after buying it, you'd have to

455
00:22:14,680 --> 00:22:18,280
Speaker 3: pay short term capital gains taxes, which are in effect

456
00:22:18,359 --> 00:22:22,160
Speaker 3: your tax rate like your ordinary income tax rate, which

457
00:22:22,160 --> 00:22:23,879
Speaker 3: depending on your income, you know, can be up to

458
00:22:23,920 --> 00:22:27,760
Speaker 3: thirty seven percent. So that is another reason why sometimes

459
00:22:27,800 --> 00:22:31,320
Speaker 3: it pays to hold stocks for at least a year,

460
00:22:31,720 --> 00:22:33,920
Speaker 3: because after a year, you have what is then called

461
00:22:33,960 --> 00:22:36,480
Speaker 3: a long term capital gain, which is when you sell

462
00:22:36,480 --> 00:22:38,840
Speaker 3: a stock you've you've held for a year and then

463
00:22:38,920 --> 00:22:42,080
Speaker 3: you pocket that profit. But taxman's going to come either way,

464
00:22:42,359 --> 00:22:44,800
Speaker 3: the long term tax yeah, either way. So what I

465
00:22:44,800 --> 00:22:47,920
Speaker 3: would say that I just I'm thinking about the the

466
00:22:48,000 --> 00:22:50,879
Speaker 3: people who jumped on this bandwagon got super excited, you know,

467
00:22:50,880 --> 00:22:53,639
Speaker 3: they hit the lottery, basically won the lottery in a sense,

468
00:22:54,000 --> 00:22:56,359
Speaker 3: and they immediately sold it. Because these are not wealthy

469
00:22:56,400 --> 00:22:59,560
Speaker 3: investors who have time to wait, Like they could be

470
00:22:59,600 --> 00:23:01,760
Speaker 3: people who have rent to pay, or they need to

471
00:23:01,760 --> 00:23:03,320
Speaker 3: get a car so they can go to work, or

472
00:23:03,359 --> 00:23:06,359
Speaker 3: they or they're just excited about having cash in the bank,

473
00:23:06,440 --> 00:23:08,960
Speaker 3: so they just cash out, you know. And if you're

474
00:23:09,000 --> 00:23:14,480
Speaker 3: listening and that's you, just get an accountant and try

475
00:23:14,480 --> 00:23:16,280
Speaker 3: to figure out what will your tax hit be so

476
00:23:16,359 --> 00:23:19,320
Speaker 3: that you can set that money aside. Now those taxes

477
00:23:19,320 --> 00:23:22,000
Speaker 3: won't be due until April of next year, so April

478
00:23:22,000 --> 00:23:26,600
Speaker 3: twenty twenty two. But I really would mean, imagine, imagine

479
00:23:26,600 --> 00:23:29,399
Speaker 3: if you're someone who's who's sold the GameStop stock and

480
00:23:29,440 --> 00:23:32,159
Speaker 3: you've got all this profit and then you spend it

481
00:23:32,280 --> 00:23:34,639
Speaker 3: or you use it on whatever, and then next spring

482
00:23:34,720 --> 00:23:38,639
Speaker 3: comes around and you're like, what the fuck, That's what

483
00:23:38,720 --> 00:23:40,440
Speaker 3: I'm scared of, and I that's going to be a

484
00:23:40,480 --> 00:23:43,240
Speaker 3: story next year, I feel like, so definitely be cautious

485
00:23:43,280 --> 00:23:46,080
Speaker 3: with something like this. You guys, the true winners are

486
00:23:46,119 --> 00:23:49,719
Speaker 3: the ones who listen who loved the Game Stop and

487
00:23:49,840 --> 00:23:52,320
Speaker 3: took advantage of the fact that the stock was really cheap,

488
00:23:52,640 --> 00:23:54,560
Speaker 3: and they bought it a year ago, And there are

489
00:23:54,600 --> 00:23:58,560
Speaker 3: people or longer ago. And you know that is you know,

490
00:23:58,600 --> 00:24:01,400
Speaker 3: a buy and hold in mentality. And like you said,

491
00:24:01,400 --> 00:24:04,000
Speaker 3: Warren Buffett, you know, you value investing. You want to

492
00:24:04,240 --> 00:24:07,120
Speaker 3: invest in companies that you think, you know, you understand

493
00:24:07,119 --> 00:24:10,399
Speaker 3: the fundamentals of their business and how they're performing. Or

494
00:24:10,440 --> 00:24:13,280
Speaker 3: you're looking ahead and you're saying, okay, well, you know

495
00:24:13,400 --> 00:24:16,440
Speaker 3: Game Stop. Yeah, they've taken a hit because no one

496
00:24:16,520 --> 00:24:19,479
Speaker 3: plays physical video games anymore. They all download them or whatever.

497
00:24:19,880 --> 00:24:22,120
Speaker 3: But you know, I like the way the CEO gave

498
00:24:22,160 --> 00:24:25,880
Speaker 3: a ted talk about the future of his business or whatever.

499
00:24:26,000 --> 00:24:28,640
Speaker 3: And I'm gonna throw some money here because I think

500
00:24:29,520 --> 00:24:32,280
Speaker 3: long term the company will be fine. That's a very

501
00:24:32,280 --> 00:24:36,400
Speaker 3: different style of investing. And yeah, but for me, it's

502
00:24:36,400 --> 00:24:38,679
Speaker 3: a no for me, dog, I'm not I'm not hopping

503
00:24:38,720 --> 00:24:43,440
Speaker 3: on that Game Stop GameStop bandwagon. I don't play video games.

504
00:24:44,720 --> 00:24:47,280
Speaker 3: I haven't played since the Mario sixty four wasn't they

505
00:24:47,800 --> 00:24:51,840
Speaker 3: was the thing. But I'm excited that people are talking

506
00:24:51,880 --> 00:24:55,240
Speaker 3: more about, you know, the stock market but it's just

507
00:24:55,359 --> 00:24:55,800
Speaker 3: Craig Cray.

508
00:24:56,160 --> 00:24:58,360
Speaker 2: No, it is Craig Cray. Honestly, I think.

509
00:25:00,080 --> 00:25:02,960
Speaker 1: I think that if this is your first foray into

510
00:25:03,000 --> 00:25:06,360
Speaker 1: the market, it should not be into shorting and not options,

511
00:25:06,480 --> 00:25:10,240
Speaker 1: And honestly, your first foray into the market should look

512
00:25:10,320 --> 00:25:14,320
Speaker 1: more like index funds should look more like, which is

513
00:25:14,359 --> 00:25:19,000
Speaker 1: when you a fund that mirrors an index a market

514
00:25:19,040 --> 00:25:22,240
Speaker 1: that's already that's like S and P five hundred, meaning

515
00:25:22,280 --> 00:25:26,440
Speaker 1: like when it mirrors the investments that are in that market. Right,

516
00:25:26,520 --> 00:25:28,879
Speaker 1: So when SMP five hundred goes up, S and P

517
00:25:28,960 --> 00:25:32,200
Speaker 1: five hundred is a market that big five hundred big

518
00:25:32,320 --> 00:25:35,000
Speaker 1: US companies stocks in five hundred big US companies. So

519
00:25:35,240 --> 00:25:38,040
Speaker 1: when those companies go up, then because your index fund

520
00:25:38,080 --> 00:25:40,320
Speaker 1: is mirroring that, it goes up. When it goes down,

521
00:25:40,320 --> 00:25:43,040
Speaker 1: it goes down. So when you invest in an index fund,

522
00:25:43,040 --> 00:25:45,800
Speaker 1: you're not looking to beat the market. You looking to

523
00:25:45,960 --> 00:25:48,440
Speaker 1: meet the market basically like you do what the market does.

524
00:25:48,840 --> 00:25:53,280
Speaker 1: So index funds mutual funds. So a mutual fund and

525
00:25:53,320 --> 00:25:56,959
Speaker 1: index funds are typically passively managed, meaning that it's an

526
00:25:57,000 --> 00:25:59,960
Speaker 1: algorithm that picks it ain't nobody, but a mutual fund

527
00:26:00,480 --> 00:26:05,920
Speaker 1: is typically actively managed. Right, So That means that there's

528
00:26:05,960 --> 00:26:09,520
Speaker 1: a person that's picking the investments that are in the fund.

529
00:26:09,800 --> 00:26:14,080
Speaker 1: So the fees associated for investing in that fund are

530
00:26:14,080 --> 00:26:16,640
Speaker 1: a little bit higher because a person. That person has

531
00:26:16,680 --> 00:26:19,160
Speaker 1: to get paid. But mutual funds, you know, are looking

532
00:26:19,240 --> 00:26:21,399
Speaker 1: to beat the market. That's why you pay that person extra.

533
00:26:21,880 --> 00:26:26,480
Speaker 1: But honestly, research has shown that long term they really don't.

534
00:26:26,560 --> 00:26:29,879
Speaker 1: Mutual funds don't necessarily beat the market, right or ETFs

535
00:26:29,880 --> 00:26:32,480
Speaker 1: and ETF is like the love child of like a

536
00:26:32,520 --> 00:26:36,120
Speaker 1: stock and a mutual fund, right, So it's a it's

537
00:26:36,160 --> 00:26:38,959
Speaker 1: a basket of stocks and bonds and and but they

538
00:26:39,040 --> 00:26:41,199
Speaker 1: it trades on the market. Because when it comes to

539
00:26:41,240 --> 00:26:43,760
Speaker 1: mutual funds and index funds, you can only buy them

540
00:26:44,119 --> 00:26:45,840
Speaker 1: once a day at the end of the day. But

541
00:26:46,000 --> 00:26:48,919
Speaker 1: mut injex fund I mean ETFs you can buy and

542
00:26:49,000 --> 00:26:51,080
Speaker 1: trade during the day. So those are the three I

543
00:26:51,080 --> 00:26:55,160
Speaker 1: would look in mutual funds, index funds, and ETFs if

544
00:26:55,200 --> 00:26:57,439
Speaker 1: I was just starting, because basically you get to just

545
00:26:57,480 --> 00:26:58,439
Speaker 1: invest in a basket.

546
00:26:58,560 --> 00:26:59,720
Speaker 2: You don't have to choose in.

547
00:27:00,520 --> 00:27:01,760
Speaker 1: A lot of people will tell you like, oh, I

548
00:27:01,760 --> 00:27:03,520
Speaker 1: don't do that, but it's a good place to start

549
00:27:04,520 --> 00:27:07,320
Speaker 1: if you're not doing anything else. You can literally just say, hey,

550
00:27:07,960 --> 00:27:10,320
Speaker 1: I'm going to put fifty bucks a month into this

551
00:27:10,400 --> 00:27:12,840
Speaker 1: index fund and that's it. If you do that, you're

552
00:27:12,840 --> 00:27:14,200
Speaker 1: still better off than most people.

553
00:27:14,520 --> 00:27:18,080
Speaker 3: Yeah. Absolutely, And I just talked about taxes, and you know,

554
00:27:18,200 --> 00:27:21,240
Speaker 3: this type of quick, short term training trading can be

555
00:27:21,359 --> 00:27:23,080
Speaker 3: very expensive if you're going to be you know, if

556
00:27:23,080 --> 00:27:25,159
Speaker 3: you're looking to make money and cash it out if

557
00:27:25,160 --> 00:27:27,040
Speaker 3: you're not looking to stay in the market long term.

558
00:27:27,119 --> 00:27:30,160
Speaker 3: And that's another reason people should start with their tax

559
00:27:30,200 --> 00:27:33,720
Speaker 3: advantaged say investing vehicles like your four one K or

560
00:27:33,720 --> 00:27:36,240
Speaker 3: an Ira, because there you have some tax advantages to

561
00:27:36,400 --> 00:27:40,560
Speaker 3: decrease your you know, potential tax liability. Personally, I do

562
00:27:40,640 --> 00:27:44,640
Speaker 3: have my little fun investing account where we have individual stocks.

563
00:27:45,200 --> 00:27:47,560
Speaker 3: You know, I think there's like ten different companies that

564
00:27:47,560 --> 00:27:49,320
Speaker 3: that were invested in, and I have a few that

565
00:27:49,400 --> 00:27:50,920
Speaker 3: I like, and my husband has a few that he's

566
00:27:51,160 --> 00:27:53,720
Speaker 3: he buys, and we we agree to like put you know,

567
00:27:53,760 --> 00:27:56,399
Speaker 3: a certain amount of money in every quarter to that

568
00:27:56,440 --> 00:27:59,359
Speaker 3: little account, and that is where we might choose a

569
00:27:59,400 --> 00:28:02,800
Speaker 3: game stop. But it's not for me, like I just

570
00:28:03,320 --> 00:28:06,800
Speaker 3: I don't understand it. So and that is fun and

571
00:28:06,840 --> 00:28:09,120
Speaker 3: I feel like if you've got money for the side

572
00:28:09,119 --> 00:28:12,440
Speaker 3: that you don't mind. Well, who wants to lose money

573
00:28:12,440 --> 00:28:14,840
Speaker 3: like nobody does? Of course not, but you have to.

574
00:28:15,119 --> 00:28:18,440
Speaker 3: We definitely separate that account from our long term retirement

575
00:28:18,480 --> 00:28:21,800
Speaker 3: savings and our emergency savings. So I don't feel like,

576
00:28:22,080 --> 00:28:24,520
Speaker 3: if you know, if we have to weather some ups

577
00:28:24,520 --> 00:28:27,720
Speaker 3: and downs in the market, I don't want to jeopardize

578
00:28:27,800 --> 00:28:29,639
Speaker 3: my entire nest egg doing it. So that's what we have,

579
00:28:29,720 --> 00:28:34,000
Speaker 3: that separate account exactly exactly. I feel like, what else?

580
00:28:34,480 --> 00:28:36,520
Speaker 3: What else can we talk about with game Stop? There's

581
00:28:36,560 --> 00:28:42,080
Speaker 3: so many questions out there, but yeah, that's it. Good luck.

582
00:28:42,520 --> 00:28:44,720
Speaker 3: I guess they didn't talk about Robinhood though. People people

583
00:28:44,760 --> 00:28:47,840
Speaker 3: are dragging Robinhood. They they I don't know if they

584
00:28:47,880 --> 00:28:50,160
Speaker 3: still have, but they they. I didn't realize you could

585
00:28:50,200 --> 00:28:53,400
Speaker 3: do this. It just halted. You can't trade game Stop,

586
00:28:53,480 --> 00:28:55,040
Speaker 3: or you couldn't at least for a period of time,

587
00:28:55,080 --> 00:28:57,680
Speaker 3: couldn't trade game Stop or any of the other stocks

588
00:28:57,680 --> 00:28:58,560
Speaker 3: that the Wall streets.

589
00:28:58,560 --> 00:29:00,560
Speaker 2: You could sell it, but they weren't letting you buy them.

590
00:29:01,000 --> 00:29:04,040
Speaker 3: Oh. I mean, I don't know about all that, but

591
00:29:04,160 --> 00:29:07,240
Speaker 3: I know the founder of this nonprofit in New York

592
00:29:07,280 --> 00:29:11,160
Speaker 3: called robin Hood was super, super pissed because everyone thought

593
00:29:11,160 --> 00:29:14,920
Speaker 3: that he was big, bad Robinhood and vesting happened. He's like, y'all,

594
00:29:15,320 --> 00:29:17,440
Speaker 3: it's not me. Could you read the Twitter bio. It's

595
00:29:17,840 --> 00:29:20,200
Speaker 3: it's not that. It's not the same thing. But yeah,

596
00:29:20,240 --> 00:29:22,840
Speaker 3: everyone seemed to love Robin Hood until this past week.

597
00:29:23,680 --> 00:29:27,280
Speaker 1: No, it's true because the issue, I mean, I suspect

598
00:29:27,280 --> 00:29:30,680
Speaker 1: there's some other big strings behind the scenes that forced

599
00:29:30,760 --> 00:29:33,920
Speaker 1: Robin Hood's hand about not letting people purchase, because remember

600
00:29:34,000 --> 00:29:35,800
Speaker 1: it's in the buying that you pushed up the price.

601
00:29:35,840 --> 00:29:40,920
Speaker 1: So basically they were forcing like if I can't buy,

602
00:29:41,040 --> 00:29:42,680
Speaker 1: I can't push up the price of game Stop, and

603
00:29:42,680 --> 00:29:45,560
Speaker 1: I can't bankrupt the hedge fund or whatever it is

604
00:29:45,560 --> 00:29:47,240
Speaker 1: that Wall Street bets was like aiming to do.

605
00:29:47,520 --> 00:29:49,320
Speaker 2: So it's kind of like, well, that's not fair. They

606
00:29:49,320 --> 00:29:50,280
Speaker 2: can bankrupt us.

607
00:29:50,640 --> 00:29:52,720
Speaker 1: When there was the big buyout two thousand and eight,

608
00:29:52,840 --> 00:29:55,680
Speaker 1: two thousand and nine, you know, we didn't get regular

609
00:29:55,680 --> 00:29:57,880
Speaker 1: people didn't get buyouts. But all the big major banks do.

610
00:29:58,320 --> 00:30:00,720
Speaker 1: How come they get all these buyouts? You know, these

611
00:30:00,760 --> 00:30:04,760
Speaker 1: big billion dollar companies, they get these buyouts, and regular

612
00:30:04,760 --> 00:30:07,800
Speaker 1: everyday people are left to suffer. And so that's what

613
00:30:07,800 --> 00:30:11,320
Speaker 1: people are I'm actually like I have investments with robin Hood,

614
00:30:11,360 --> 00:30:13,480
Speaker 1: and I'm not gonna lie. I'm pulling mine out as well,

615
00:30:13,480 --> 00:30:17,720
Speaker 1: because I was just like, eh, oh.

616
00:30:17,560 --> 00:30:20,920
Speaker 3: Whe are you gonna move? I use ally invest I

617
00:30:20,960 --> 00:30:25,000
Speaker 3: don't know yet. I'm trying to sud and I don't

618
00:30:25,040 --> 00:30:28,320
Speaker 3: like to wait to have my savings they're already, but

619
00:30:28,640 --> 00:30:30,360
Speaker 3: I do. I think I have some like chewy stock

620
00:30:30,400 --> 00:30:32,600
Speaker 3: in robin Hood. I haven't made. I mean whatever, it's

621
00:30:32,720 --> 00:30:36,080
Speaker 3: not really bothering me, but yeah, it is a little shady.

622
00:30:36,120 --> 00:30:38,040
Speaker 3: I did read that like Robinhood had to come up

623
00:30:38,040 --> 00:30:41,440
Speaker 3: with three billion dollars right quick because they didn't have

624
00:30:41,520 --> 00:30:43,520
Speaker 3: enough money on hand to like make people all on

625
00:30:43,600 --> 00:30:44,120
Speaker 3: their trades.

626
00:30:44,200 --> 00:30:44,720
Speaker 2: I don't know.

627
00:30:45,040 --> 00:30:47,640
Speaker 3: This is all very fascinating stuff, but shout out to

628
00:30:47,680 --> 00:30:51,040
Speaker 3: game Stop and uh, you know, anyone who's an early shareholder,

629
00:30:51,120 --> 00:30:54,240
Speaker 3: you are doing very well. More power to you. But

630
00:30:54,280 --> 00:30:56,520
Speaker 3: you kind of like won the lottery and I'm good

631
00:30:56,520 --> 00:31:30,320
Speaker 3: with that. I can make peace with not winning the lottery.

632
00:31:31,280 --> 00:31:34,720
Speaker 1: And now it's time for my favorite segment of the show,

633
00:31:35,840 --> 00:31:44,800
Speaker 1: Questions Questions Exactly, y'all have questions. We might have answers,

634
00:31:44,880 --> 00:31:47,240
Speaker 1: at least, you know, answers to our best of our ability,

635
00:31:47,960 --> 00:31:51,040
Speaker 1: but you are not to take all answers for advice

636
00:31:51,080 --> 00:31:54,640
Speaker 1: for you specifically. This is just me management, just talking. AKA,

637
00:31:54,760 --> 00:31:56,400
Speaker 1: sue your grandma, not us.

638
00:31:56,800 --> 00:31:58,280
Speaker 3: Why would they sue their grandma.

639
00:31:59,000 --> 00:32:00,680
Speaker 1: I just always say that, like you know, when people

640
00:32:00,840 --> 00:32:03,080
Speaker 1: because you know, like Tony, my attorney always says, you know,

641
00:32:03,080 --> 00:32:05,000
Speaker 1: make sure you do a disclaimer that people you know,

642
00:32:05,080 --> 00:32:07,880
Speaker 1: this is just you're not giving specific advice and that

643
00:32:07,920 --> 00:32:11,480
Speaker 1: people should reach out to their own financial expert or

644
00:32:12,200 --> 00:32:16,040
Speaker 1: CFP or CPA whatever, And I'm always like, AKA, basically,

645
00:32:16,160 --> 00:32:19,360
Speaker 1: you know, you don't try tossue me, go see your grandma.

646
00:32:19,520 --> 00:32:21,800
Speaker 3: Please don't, but don't give them any ideas either. You can't.

647
00:32:21,840 --> 00:32:25,000
Speaker 3: It's not possible. Don't see us. Okay, this is funny.

648
00:32:25,040 --> 00:32:27,240
Speaker 3: I think they. I think that you mentioned us during

649
00:32:27,280 --> 00:32:30,680
Speaker 3: your our Instagram life that is lost forever. But someone

650
00:32:30,720 --> 00:32:32,880
Speaker 3: wanted to know. This is Shandon from IG. She says,

651
00:32:33,040 --> 00:32:35,040
Speaker 3: this is not a budget question, but it's something from

652
00:32:35,040 --> 00:32:38,280
Speaker 3: the show. How does Tiffany take apple cider vinegar? And

653
00:32:38,320 --> 00:32:41,400
Speaker 3: why I tried and it nearly burned my insides. Just

654
00:32:41,440 --> 00:32:44,880
Speaker 3: wondering if she has any tips or tricks to do it.

655
00:32:44,920 --> 00:32:47,440
Speaker 3: Acc So yeah.

656
00:32:47,240 --> 00:32:48,000
Speaker 2: So here's the thing.

657
00:32:48,520 --> 00:32:51,240
Speaker 1: I hope you're not taking it like without mixing it

658
00:32:51,280 --> 00:32:53,040
Speaker 1: with anything because.

659
00:32:52,840 --> 00:32:55,800
Speaker 3: You get that I've ever done that before before, because

660
00:32:55,800 --> 00:32:57,400
Speaker 3: it's gonna burn your inside. It does burn.

661
00:32:58,160 --> 00:32:59,920
Speaker 1: So I just honestly, I get a glass of war

662
00:33:00,560 --> 00:33:03,480
Speaker 1: cold water and then I put like about two or

663
00:33:03,480 --> 00:33:06,080
Speaker 1: three tablespoons, like you know, poured into a spoon and

664
00:33:06,200 --> 00:33:07,600
Speaker 1: just put it in the water and I drink it

665
00:33:07,600 --> 00:33:11,640
Speaker 1: O way. It almost takes like not not that great lemonade.

666
00:33:11,720 --> 00:33:13,240
Speaker 1: That's what it tastes like to me. But yeah, you

667
00:33:13,240 --> 00:33:15,800
Speaker 1: you drink it with water, at least a cup of water,

668
00:33:16,720 --> 00:33:17,360
Speaker 1: and so yeah, you.

669
00:33:17,360 --> 00:33:18,280
Speaker 2: Should not be taking it.

670
00:33:18,320 --> 00:33:19,800
Speaker 1: And so the reason why you take it is because

671
00:33:19,800 --> 00:33:22,440
Speaker 1: it helps with Digestion's supposed to help with you know,

672
00:33:22,560 --> 00:33:25,440
Speaker 1: trim that delli fat because it helps with digestion. So

673
00:33:25,480 --> 00:33:27,960
Speaker 1: that's why lots of people take apple site of vinegar.

674
00:33:29,560 --> 00:33:33,400
Speaker 3: Yeah I should try it again because it also, yeah, indigestion,

675
00:33:33,480 --> 00:33:36,680
Speaker 3: and also like for me, it was heartburn, which seems

676
00:33:36,800 --> 00:33:38,600
Speaker 3: when I when I when I drink it straight up

677
00:33:38,640 --> 00:33:40,600
Speaker 3: like a dummy, I was like, this burns a lot.

678
00:33:40,640 --> 00:33:42,800
Speaker 3: How can it possibly be helping me? But yeah, I

679
00:33:42,880 --> 00:33:45,720
Speaker 3: learned later to dilute. It also makes a really good

680
00:33:45,760 --> 00:33:49,040
Speaker 3: hair rinse slash conditioners.

681
00:33:49,400 --> 00:33:51,120
Speaker 2: It does. Yes, I do that sometimes.

682
00:33:51,280 --> 00:33:53,800
Speaker 1: I'm not gonna let's a little stinky, stinky, but if

683
00:33:53,800 --> 00:33:55,680
Speaker 1: you have any build up, Oh my gosh, it's really

684
00:33:55,680 --> 00:33:56,800
Speaker 1: great for build up on your hair.

685
00:33:57,000 --> 00:34:00,120
Speaker 3: I like that, smeuntain weird. I'm like in takombucha too.

686
00:34:00,000 --> 00:34:02,280
Speaker 2: Oh that's stinky.

687
00:34:02,800 --> 00:34:06,360
Speaker 3: Yeah, it's kind I don't like it. Okay, all right,

688
00:34:06,440 --> 00:34:10,120
Speaker 3: thank you Shannon for your question. Let's get into a

689
00:34:10,120 --> 00:34:12,759
Speaker 3: career one. I really feel for this listener. Let me see,

690
00:34:12,760 --> 00:34:14,759
Speaker 3: so let's keep her anonymous. But she says, I'd like

691
00:34:14,800 --> 00:34:16,480
Speaker 3: to wish you both a blessed and happy new year.

692
00:34:16,960 --> 00:34:19,400
Speaker 3: I'm writing you both today because I feel stuck and

693
00:34:19,440 --> 00:34:21,400
Speaker 3: I'd like to make some changes in my life this

694
00:34:21,440 --> 00:34:24,480
Speaker 3: new year. I work for a nonprofit organization, and my

695
00:34:24,520 --> 00:34:27,600
Speaker 3: employer promoted me over three months ago without a pay

696
00:34:27,640 --> 00:34:30,920
Speaker 3: agree zone. When I asked why, I was told that

697
00:34:31,000 --> 00:34:33,440
Speaker 3: when I was originally hired, it was their intention the

698
00:34:33,480 --> 00:34:36,480
Speaker 3: whole time to have my position be a supervisory position.

699
00:34:37,000 --> 00:34:38,959
Speaker 3: I had no idea that was a part of their plan,

700
00:34:39,200 --> 00:34:42,000
Speaker 3: nor did I sign anything agreeing to that. The problem

701
00:34:42,040 --> 00:34:45,120
Speaker 3: here is my workload has increased significantly, and I'm now

702
00:34:45,160 --> 00:34:50,040
Speaker 3: supervising seven people with no other benefits. If this normal,

703
00:34:50,480 --> 00:34:52,239
Speaker 3: I'm at the point of just wanting to quit because

704
00:34:52,239 --> 00:34:54,880
Speaker 3: I feel that I'm being taken advantage of. I'm extremely

705
00:34:54,920 --> 00:34:57,520
Speaker 3: unhappy at work and would like any advice on what

706
00:34:57,640 --> 00:35:00,839
Speaker 3: to do. I'm not in the position to just quit financially,

707
00:35:01,000 --> 00:35:03,320
Speaker 3: but I need a new job, maybe out of the state,

708
00:35:03,400 --> 00:35:05,840
Speaker 3: so I can have more opportunities help.

709
00:35:06,800 --> 00:35:09,520
Speaker 1: Yikes, Well, I'm gonna put this part in demand you take.

710
00:35:09,560 --> 00:35:15,200
Speaker 1: You know, the career stuff is yo jam. That is terrible. Honestly, yeah,

711
00:35:15,280 --> 00:35:17,479
Speaker 1: it is because I'm like, oh, here's more work.

712
00:35:17,480 --> 00:35:19,160
Speaker 2: Oh we were gonna make you Well, you should have

713
00:35:19,160 --> 00:35:21,359
Speaker 2: done it when you hired me, don't. That's not how

714
00:35:21,360 --> 00:35:21,800
Speaker 2: that works.

715
00:35:21,840 --> 00:35:25,120
Speaker 1: I just feel like that's just terrible to give you

716
00:35:25,200 --> 00:35:26,919
Speaker 1: all this extra work and not extra pay.

717
00:35:27,000 --> 00:35:29,920
Speaker 2: So I'll just that's my two cents. But what should

718
00:35:30,040 --> 00:35:31,560
Speaker 2: she corporate speak do?

719
00:35:32,400 --> 00:35:34,759
Speaker 3: I mean, get the f out of there and tell

720
00:35:34,800 --> 00:35:37,080
Speaker 3: them why so they never do that again to someone.

721
00:35:37,200 --> 00:35:39,200
Speaker 3: I know that you say, financially, you can't just up

722
00:35:39,280 --> 00:35:41,600
Speaker 3: and leave, but I would start looking because it's just

723
00:35:41,640 --> 00:35:44,760
Speaker 3: not fair. Seven people's a lot of freaking people. Listen.

724
00:35:44,800 --> 00:35:47,360
Speaker 3: I used to manage like twelve people and I just

725
00:35:47,400 --> 00:35:50,720
Speaker 3: about died, just died until I had someone to split

726
00:35:50,719 --> 00:35:53,120
Speaker 3: them up with. And I think when I left Lending Tree,

727
00:35:53,160 --> 00:35:57,520
Speaker 3: I was managing seven or eight directs, and that still

728
00:35:57,600 --> 00:36:01,120
Speaker 3: you're just spread so so thin. I just feel you

729
00:36:01,160 --> 00:36:03,800
Speaker 3: on sol with so many levels. And what really pisses

730
00:36:03,840 --> 00:36:06,480
Speaker 3: me off, though, is that because you weren't sure what

731
00:36:06,480 --> 00:36:08,960
Speaker 3: you were getting yourself into, you weren't in a position

732
00:36:09,000 --> 00:36:12,680
Speaker 3: to negotiate for what you've truly deserved, which I find

733
00:36:12,719 --> 00:36:14,360
Speaker 3: to be the shadiest thing of all. It's almost like

734
00:36:14,360 --> 00:36:17,600
Speaker 3: they've just stolen money from you. And if they're not

735
00:36:17,640 --> 00:36:19,359
Speaker 3: going to give you any kind of pay raise now,

736
00:36:19,480 --> 00:36:23,320
Speaker 3: I don't understand how they expect you to stick around.

737
00:36:23,600 --> 00:36:26,880
Speaker 3: And to be quite frank, I would say if you're

738
00:36:27,200 --> 00:36:30,320
Speaker 3: you know, listen, of course you want to take the

739
00:36:30,360 --> 00:36:33,160
Speaker 3: high road a lot of the time, especially for in

740
00:36:33,200 --> 00:36:36,000
Speaker 3: the nonprofit world, and you don't mention what kind of nonprofit,

741
00:36:36,120 --> 00:36:39,280
Speaker 3: but you know, let's say you want to save baby

742
00:36:39,320 --> 00:36:42,319
Speaker 3: seals in Antarctica and there's only like four nonprofits who

743
00:36:42,360 --> 00:36:44,560
Speaker 3: do that. You know, you maybe don't want a reputation

744
00:36:44,640 --> 00:36:48,080
Speaker 3: for yourself as being troublesome or whatever, so you don't

745
00:36:48,080 --> 00:36:50,520
Speaker 3: want to like burn bridges. But I also would not

746
00:36:50,840 --> 00:36:54,440
Speaker 3: bust my ass and bend over backwards to do an

747
00:36:54,520 --> 00:36:58,439
Speaker 3: exceptional job because of something of a mistake that they made.

748
00:36:58,640 --> 00:37:00,759
Speaker 3: I would not be killing myself trying to be the

749
00:37:00,840 --> 00:37:04,799
Speaker 3: super duper, you know, boss of seven people supervise them.

750
00:37:04,880 --> 00:37:08,880
Speaker 3: And for those who think supervising is just about checking

751
00:37:09,320 --> 00:37:13,280
Speaker 3: people's time cards if they do that, or approving PTO

752
00:37:13,719 --> 00:37:16,920
Speaker 3: or making sure they're on task, it's if you're really

753
00:37:17,080 --> 00:37:20,839
Speaker 3: if you're truly you know, growing people and developing them,

754
00:37:20,880 --> 00:37:23,719
Speaker 3: which I think you know, true leaders should do. That's

755
00:37:23,760 --> 00:37:27,080
Speaker 3: a lot of time and energy on your part pouring

756
00:37:27,160 --> 00:37:30,560
Speaker 3: into the people who work. And it's also it's not

757
00:37:30,640 --> 00:37:34,360
Speaker 3: just about this company, this nonprofit shortchanging you. They're also

758
00:37:34,640 --> 00:37:38,440
Speaker 3: short changing these seven people, you know, by giving them

759
00:37:38,440 --> 00:37:41,359
Speaker 3: a supervisor without the resources to do what she needs

760
00:37:41,360 --> 00:37:45,920
Speaker 3: to do. And that is completely irresponsible, and I'm just

761
00:37:46,680 --> 00:37:50,800
Speaker 3: I'm really sorry. I'm really sorry. So I guess naughty

762
00:37:50,840 --> 00:37:53,399
Speaker 3: Mandy would say, you know, as soon as you can,

763
00:37:53,520 --> 00:37:57,120
Speaker 3: just get the f out of there, if you want to,

764
00:37:57,200 --> 00:38:00,080
Speaker 3: you know, move somewhere else in the nonprofit world, and

765
00:38:00,120 --> 00:38:01,680
Speaker 3: you are you know you don't want to burn too

766
00:38:01,680 --> 00:38:04,640
Speaker 3: many bridges. I wouldn't give up on this issue. I

767
00:38:04,680 --> 00:38:07,560
Speaker 3: would keep pushing. I would bring it up as often

768
00:38:07,719 --> 00:38:09,840
Speaker 3: as you can and make your bullet point list of

769
00:38:09,880 --> 00:38:13,600
Speaker 3: reasons why you know you deserve this phrase, or at

770
00:38:13,600 --> 00:38:18,719
Speaker 3: the very minimum, ask for specific support, like what can

771
00:38:18,920 --> 00:38:22,040
Speaker 3: what kind of support can you have in coaching seven people?

772
00:38:22,480 --> 00:38:25,600
Speaker 3: Are you even prepared to supervise seven people? Can they

773
00:38:25,600 --> 00:38:26,920
Speaker 3: pay for management training?

774
00:38:27,000 --> 00:38:27,239
Speaker 2: You know?

775
00:38:27,840 --> 00:38:27,960
Speaker 1: How?

776
00:38:28,200 --> 00:38:31,200
Speaker 3: How can they just foist seven direct reports upon you

777
00:38:31,360 --> 00:38:33,680
Speaker 3: and expect you to swim?

778
00:38:33,960 --> 00:38:34,200
Speaker 2: You know?

779
00:38:34,760 --> 00:38:37,560
Speaker 3: It's I know it's a crazy time of year. Not

780
00:38:37,680 --> 00:38:39,640
Speaker 3: time of year, it's just a crazy year in general

781
00:38:40,120 --> 00:38:42,839
Speaker 3: with everything happening, and a lot of companies are scrambling

782
00:38:42,880 --> 00:38:46,719
Speaker 3: to to keep afloat. And I understand that, but this

783
00:38:46,800 --> 00:38:51,080
Speaker 3: to me was really yeah, irresponsible and yeah next level

784
00:38:51,200 --> 00:38:53,319
Speaker 3: just for me as an employee. I don't know how

785
00:38:53,360 --> 00:38:54,680
Speaker 3: you rebuild that trust?

786
00:38:55,160 --> 00:38:58,160
Speaker 1: Yeah, because that's exactly what was broken. It's not just

787
00:38:58,160 --> 00:39:00,760
Speaker 1: they're taking advantage of you that you know they've broken

788
00:39:00,960 --> 00:39:05,960
Speaker 1: trust and they're probably thinking, oh, it's pandemics, last quarantine,

789
00:39:06,000 --> 00:39:07,600
Speaker 1: slash all the stuff, She's not going anywhere.

790
00:39:07,640 --> 00:39:08,720
Speaker 2: But I would prove them wrong.

791
00:39:09,120 --> 00:39:11,480
Speaker 3: Yeah, if it was their plan all along, then why

792
00:39:12,200 --> 00:39:15,839
Speaker 3: did they not tell you? You know. Oh, by the way,

793
00:39:15,960 --> 00:39:18,080
Speaker 3: we totally planned to have you report, you know, have

794
00:39:18,200 --> 00:39:20,480
Speaker 3: seven people report to you, but we waited three months

795
00:39:20,480 --> 00:39:25,000
Speaker 3: to actually do it. That makes no sense, none at all.

796
00:39:25,320 --> 00:39:29,719
Speaker 3: So I completely understand where you're coming from. All right,

797
00:39:29,719 --> 00:39:32,200
Speaker 3: but thank you, thank you for your question. And she's

798
00:39:32,239 --> 00:39:34,680
Speaker 3: in Minnesota. So if you guys know anybody in nonprofits

799
00:39:34,680 --> 00:39:36,879
Speaker 3: in Minnesota and you want to get her a job,

800
00:39:36,880 --> 00:39:37,319
Speaker 3: hook up.

801
00:39:37,640 --> 00:39:38,440
Speaker 2: I love Minnesota.

802
00:39:38,960 --> 00:39:44,000
Speaker 1: Their accent Minnesota. No, yeah, Minnesota. I'm from Minnesota.

803
00:39:44,040 --> 00:39:44,799
Speaker 2: I just love that.

804
00:39:45,080 --> 00:39:47,640
Speaker 3: I don't know what that. Yes, Minnesota. You know my

805
00:39:47,680 --> 00:39:49,920
Speaker 3: people are from the Midwest, so I mean half of

806
00:39:50,000 --> 00:39:53,320
Speaker 3: my people. But anyway, thank you very much for that question.

807
00:39:53,520 --> 00:39:58,080
Speaker 3: Let me see we have another one. All right, So

808
00:39:58,200 --> 00:40:00,759
Speaker 3: for our third and final question, take one that has

809
00:40:00,800 --> 00:40:03,400
Speaker 3: to do with the lovely four to one K. All right,

810
00:40:03,440 --> 00:40:06,680
Speaker 3: this listener from IG wants to remain anonymous, and she says,

811
00:40:06,880 --> 00:40:09,640
Speaker 3: or he says, I have two four to one ks

812
00:40:09,640 --> 00:40:13,000
Speaker 3: from previous companies that I am considering rolling over to

813
00:40:13,080 --> 00:40:15,680
Speaker 3: my current company. Would you recommend doing this during the

814
00:40:15,719 --> 00:40:19,040
Speaker 3: current economy or leaving them where they are. I've checked

815
00:40:19,040 --> 00:40:21,680
Speaker 3: one account and I won't receive any penalties for leaving

816
00:40:21,760 --> 00:40:23,719
Speaker 3: it there, and I'm not sure about the other one.

817
00:40:24,200 --> 00:40:27,800
Speaker 3: I also want to ask you about my company's matching policy.

818
00:40:28,200 --> 00:40:30,280
Speaker 3: Since I work for a startup, they are not able

819
00:40:30,320 --> 00:40:33,560
Speaker 3: to match my four to one K contributions. Any suggestions

820
00:40:33,560 --> 00:40:35,799
Speaker 3: for making sure I make the best of us, like

821
00:40:35,800 --> 00:40:38,799
Speaker 3: should I contribute double what I was going to contribute

822
00:40:38,800 --> 00:40:41,120
Speaker 3: each paycheck to make up for the lack of matching.

823
00:40:41,520 --> 00:40:43,399
Speaker 3: Thank you so much for answering my question. I love

824
00:40:43,440 --> 00:40:45,840
Speaker 3: the podcast, and thanks for all you do. Thank you,

825
00:40:47,640 --> 00:40:49,560
Speaker 3: thank you. Way.

826
00:40:49,880 --> 00:40:52,920
Speaker 2: Here's the thing. You want to be mindful because it's

827
00:40:52,960 --> 00:40:53,560
Speaker 2: so easy.

828
00:40:53,600 --> 00:40:56,279
Speaker 1: It's like bank accounts, to not close an account and

829
00:40:56,280 --> 00:40:58,719
Speaker 1: then not close another, and then five years later you're like, wait,

830
00:41:00,040 --> 00:41:00,600
Speaker 1: six accounts.

831
00:41:00,600 --> 00:41:02,480
Speaker 2: I'm not wait what what? What bank? Wait what you know?

832
00:41:03,000 --> 00:41:06,080
Speaker 1: So rolling over your fall one ks or your you know,

833
00:41:06,120 --> 00:41:09,400
Speaker 1: your retirement accounts into one account, it's just good maintenance

834
00:41:10,000 --> 00:41:11,480
Speaker 1: because you don't know, maybe a year something now you

835
00:41:11,560 --> 00:41:14,600
Speaker 1: might be someplace else, and there's no there's no way

836
00:41:14,640 --> 00:41:16,560
Speaker 1: for you to time the market to say this is

837
00:41:16,560 --> 00:41:18,600
Speaker 1: a good time. Wait, this is a good time. So

838
00:41:18,719 --> 00:41:21,279
Speaker 1: if you're gonna roll it over, you know, into a

839
00:41:22,280 --> 00:41:24,359
Speaker 1: uh an IRA, then I would just roll it over

840
00:41:24,400 --> 00:41:28,760
Speaker 1: into an IRA. And as far as your company not matching,

841
00:41:29,440 --> 00:41:33,480
Speaker 1: that's you know, that's not uncommon for a startup. Honestly,

842
00:41:33,840 --> 00:41:38,399
Speaker 1: I actually would be putting. I would unless you're making

843
00:41:38,520 --> 00:41:40,760
Speaker 1: over like I think it's one hundred and thirty nine thousand.

844
00:41:40,920 --> 00:41:42,359
Speaker 1: I think it's a little bit more now because it's

845
00:41:42,360 --> 00:41:46,200
Speaker 1: two thousand and twenty one. But I actually would divert

846
00:41:46,719 --> 00:41:52,399
Speaker 1: my retirement investing funds toward a wroth IRA. First, I

847
00:41:52,640 --> 00:41:57,720
Speaker 1: like the tax the tax bonus for a wroth better

848
00:41:57,800 --> 00:42:01,399
Speaker 1: than the tax bonus for a traditional IR or four

849
00:42:01,400 --> 00:42:04,560
Speaker 1: O one K. Here's why, because with the wroth, you

850
00:42:04,600 --> 00:42:07,759
Speaker 1: can put your money in. Say you put your you know,

851
00:42:07,800 --> 00:42:09,719
Speaker 1: I think it's like whatever, I think it's six thousand dollars.

852
00:42:09,760 --> 00:42:11,319
Speaker 1: I think it's still six thousand, or's a sixty five

853
00:42:11,400 --> 00:42:14,560
Speaker 1: hundred the max. But you can max out your wroth.

854
00:42:14,600 --> 00:42:17,319
Speaker 1: You put right, put your safe six thousand dollars a year,

855
00:42:17,880 --> 00:42:20,920
Speaker 1: and then by the time you get ready to retire,

856
00:42:21,680 --> 00:42:24,440
Speaker 1: you don't have to because you paid taxes on the

857
00:42:24,440 --> 00:42:26,680
Speaker 1: money that you put in that six thousand dollars that

858
00:42:26,719 --> 00:42:30,239
Speaker 1: you put in is after tax money. So this is

859
00:42:30,239 --> 00:42:32,680
Speaker 1: your You take the six six thousand from your take

860
00:42:32,680 --> 00:42:34,799
Speaker 1: home pay, so you pay taxes on it. You put

861
00:42:34,800 --> 00:42:37,279
Speaker 1: it in your retirement account. It's a wroth at the

862
00:42:37,400 --> 00:42:39,360
Speaker 1: end when you're ready to retire fifty nine and a

863
00:42:39,400 --> 00:42:42,759
Speaker 1: half and the older you know you could take. Not

864
00:42:42,800 --> 00:42:44,759
Speaker 1: only is that the you know, the six dollars you've

865
00:42:44,760 --> 00:42:47,040
Speaker 1: been putting away already have taxes on it, but the

866
00:42:47,080 --> 00:42:49,360
Speaker 1: growth you don't have to pay taxes on the growth,

867
00:42:49,360 --> 00:42:51,440
Speaker 1: which is kind of awesome that you can basically take

868
00:42:51,480 --> 00:42:54,719
Speaker 1: that money tax free. Lated that's the tax benefit. So

869
00:42:54,840 --> 00:42:57,000
Speaker 1: I like to max out my WROTH first if I'm

870
00:42:57,000 --> 00:42:58,719
Speaker 1: not getting a match at a company, and then go

871
00:42:58,840 --> 00:42:59,680
Speaker 1: back to my.

872
00:42:59,600 --> 00:43:00,200
Speaker 2: Four w K.

873
00:43:00,360 --> 00:43:02,400
Speaker 1: After I've maxed out my WROTH, if I have extra money,

874
00:43:02,560 --> 00:43:05,319
Speaker 1: put put money toward my four one four one K.

875
00:43:05,600 --> 00:43:07,480
Speaker 2: So that's usually like my cycle that I like to do.

876
00:43:07,680 --> 00:43:10,240
Speaker 1: First rock, if there's a match, I do my match,

877
00:43:10,480 --> 00:43:12,480
Speaker 1: then my wroth, then back to my four one K

878
00:43:12,640 --> 00:43:13,360
Speaker 1: if there's extra.

879
00:43:13,719 --> 00:43:15,640
Speaker 2: If there's no match, I like to do four wink.

880
00:43:15,719 --> 00:43:18,600
Speaker 1: I like to do roth first, max that out, then

881
00:43:19,000 --> 00:43:22,200
Speaker 1: then my then my four one k oh that makes sense.

882
00:43:22,719 --> 00:43:25,160
Speaker 3: Yeah, I'm as far as rolling it over because I've

883
00:43:25,200 --> 00:43:27,040
Speaker 3: definitely I'm in that position right now, got to roll

884
00:43:27,040 --> 00:43:32,560
Speaker 3: over my stuff. Listen, Like most most brokerages have a

885
00:43:32,680 --> 00:43:35,880
Speaker 3: very you know, laid out process for doing a rollover,

886
00:43:36,120 --> 00:43:38,320
Speaker 3: and it could be pretty seamless. You just want to

887
00:43:38,360 --> 00:43:40,760
Speaker 3: be sure that you do it like a digital transfer.

888
00:43:40,800 --> 00:43:43,080
Speaker 3: I remember when, was it like ten years ago, I

889
00:43:43,120 --> 00:43:45,640
Speaker 3: was leaving a job and I bungled something up and

890
00:43:45,760 --> 00:43:48,000
Speaker 3: ended up having to cash a check like they mailed

891
00:43:48,040 --> 00:43:50,080
Speaker 3: me a check, and then I had to do it quick, quick, quickly.

892
00:43:50,640 --> 00:43:52,759
Speaker 3: I think I had thirty days to do it. I

893
00:43:52,800 --> 00:43:55,239
Speaker 3: was going to say, yep, I got text as if

894
00:43:55,280 --> 00:43:57,200
Speaker 3: it was a contribution like whips. I mean it was

895
00:43:57,280 --> 00:44:01,520
Speaker 3: like two thousand dollars. It wasn't. Baby Still yeah, so uh,

896
00:44:01,680 --> 00:44:04,560
Speaker 3: don't make that mistake. Just you know, call or you know,

897
00:44:05,080 --> 00:44:06,920
Speaker 3: log into your account and I'm sure there'll be a

898
00:44:06,960 --> 00:44:10,919
Speaker 3: tab somewhere for initiating a rollover. And yeah, as far

899
00:44:11,000 --> 00:44:13,839
Speaker 3: as making up for their not being a match, yes,

900
00:44:13,920 --> 00:44:16,200
Speaker 3: I mean if you if you're if you're not gonna

901
00:44:16,880 --> 00:44:20,040
Speaker 3: be able to yes, if if you can contribute more,

902
00:44:20,360 --> 00:44:23,160
Speaker 3: I would never say don't contribute more to your retirement fund.

903
00:44:23,520 --> 00:44:25,160
Speaker 3: And I like the way that Tiffany has sort of

904
00:44:25,600 --> 00:44:27,680
Speaker 3: you know, prioritized ifone, if you're not gonna if they're

905
00:44:27,680 --> 00:44:29,080
Speaker 3: not going to give you a match, there's really no

906
00:44:29,160 --> 00:44:32,040
Speaker 3: benefit to you being in there, you know, that specific

907
00:44:32,160 --> 00:44:35,640
Speaker 3: retirement account with your with your company. And yeah, just

908
00:44:35,640 --> 00:44:38,360
Speaker 3: just pay attention to to what types of investment options

909
00:44:38,400 --> 00:44:41,680
Speaker 3: you have with the with the company that they're we're

910
00:44:41,800 --> 00:44:45,360
Speaker 3: uh that they're helping or having manage your retirement portfolio,

911
00:44:45,480 --> 00:44:48,480
Speaker 3: because you know, you may have more diverse options at

912
00:44:48,520 --> 00:44:51,360
Speaker 3: another brokerage or one of the old ones that you

913
00:44:51,360 --> 00:44:55,000
Speaker 3: you know, had your your four one K stored in,

914
00:44:55,160 --> 00:44:57,600
Speaker 3: So that's something to consider as well when you're weighing

915
00:44:57,640 --> 00:44:58,280
Speaker 3: those options.

916
00:44:58,640 --> 00:45:01,000
Speaker 1: Yeah, and also too, you might at that because sometimes

917
00:45:01,200 --> 00:45:04,200
Speaker 1: smaller startups will have profit share or maybe you have

918
00:45:04,280 --> 00:45:07,359
Speaker 1: some equity, so ask about that, like what other you know,

919
00:45:07,400 --> 00:45:08,960
Speaker 1: what other benefits are there?

920
00:45:09,719 --> 00:45:14,040
Speaker 3: Equity is nice? Mm hmm, it is all right, y'all. Well,

921
00:45:14,080 --> 00:45:16,279
Speaker 3: thank you so much for the questions. Again, if you

922
00:45:16,360 --> 00:45:20,760
Speaker 3: have questions, hit us up at Brannanbision podcast on Instagram,

923
00:45:21,040 --> 00:45:24,280
Speaker 3: or you can email us at Brandmission Podcast at gmail

924
00:45:24,320 --> 00:45:27,799
Speaker 3: dot com, or check out our where's my dot com?

925
00:45:28,040 --> 00:45:31,040
Speaker 2: Oh? Back up, I know it's been I'm out of practice.

926
00:45:32,719 --> 00:45:35,040
Speaker 3: I wait for it now. Or you can go to

927
00:45:35,040 --> 00:45:38,480
Speaker 3: Brandibission podcast dot com and click ask us anything.

928
00:45:39,520 --> 00:45:43,239
Speaker 1: And now it's time to boost to break with the

929
00:45:43,360 --> 00:45:44,320
Speaker 1: BA family.

930
00:45:45,880 --> 00:45:49,120
Speaker 2: Are you gonna booze? Are you gonna break? What you're

931
00:45:49,160 --> 00:45:49,640
Speaker 2: gonna do?

932
00:45:49,880 --> 00:45:52,239
Speaker 1: Mandy see, I could not remember this remember on our

933
00:45:52,280 --> 00:45:53,279
Speaker 1: live I couldn't.

934
00:45:52,960 --> 00:45:56,280
Speaker 3: Even there Nicky mouse Club break, Yeah, yeah, I couldn't remember.

935
00:45:56,360 --> 00:45:58,600
Speaker 3: I was like, darn it, Well it's got levels because

936
00:45:58,600 --> 00:46:00,520
Speaker 3: I was just I saw that just and Timber like

937
00:46:00,560 --> 00:46:04,160
Speaker 3: turn forty, I think, which is crazy. He was on

938
00:46:04,200 --> 00:46:07,919
Speaker 3: the Mickey mouse Club. I used to watch him. Oh yeah,

939
00:46:07,960 --> 00:46:10,000
Speaker 3: it's like all my phases are turning forty these days.

940
00:46:10,000 --> 00:46:13,360
Speaker 3: That's crazy. I digress. I have a couple of boosts

941
00:46:13,400 --> 00:46:15,840
Speaker 3: and I'll do a boosty boost real quick for us

942
00:46:15,960 --> 00:46:19,440
Speaker 3: because it is February, the most fabulous month of the

943
00:46:19,520 --> 00:46:22,399
Speaker 3: year aka Black History Month, and Tiffany and I are

944
00:46:22,400 --> 00:46:25,200
Speaker 3: getting some love actually, and this is really kudos to

945
00:46:25,239 --> 00:46:28,560
Speaker 3: Westwood One, our new podcast network and partners, because they

946
00:46:28,600 --> 00:46:31,959
Speaker 3: have helped us get a shout out on iTunes of course,

947
00:46:32,000 --> 00:46:35,360
Speaker 3: in their Black History Month section but also on Spotify

948
00:46:35,520 --> 00:46:40,360
Speaker 3: and tune in, we are featured and they're curated BHM lists,

949
00:46:40,400 --> 00:46:43,560
Speaker 3: So check us out there and share. And it's always

950
00:46:43,640 --> 00:46:47,239
Speaker 3: nice to get the love and the spotlight, especially on

951
00:46:47,320 --> 00:46:51,320
Speaker 3: a month, you know, when there's just so many beautiful

952
00:46:51,320 --> 00:46:55,040
Speaker 3: and amazing black creators out there and it's great to be, yeah,

953
00:46:55,080 --> 00:46:56,160
Speaker 3: sharing some shine with them.

954
00:46:56,760 --> 00:46:59,640
Speaker 2: Send me that screenshot, girls, I could post it on

955
00:46:59,640 --> 00:47:01,880
Speaker 2: on the on the socials.

956
00:47:02,000 --> 00:47:05,520
Speaker 3: Absolutely absolutely. And then my second boost I was gonna

957
00:47:05,560 --> 00:47:07,879
Speaker 3: do speaking of game Stop. So there's this really really

958
00:47:07,960 --> 00:47:09,600
Speaker 3: cute story. Let me get his name. So this is

959
00:47:09,640 --> 00:47:14,000
Speaker 3: about this boost goes to Jaden Carr of San Antonio, Texas,

960
00:47:14,320 --> 00:47:18,480
Speaker 3: who was ten years old. He made five thousand percent

961
00:47:19,120 --> 00:47:22,839
Speaker 3: on his initial game Stop investment during this whole shenanigans

962
00:47:22,880 --> 00:47:24,839
Speaker 3: that were happening the past week, and I know, I've

963
00:47:24,840 --> 00:47:28,319
Speaker 3: been like kind of screaming and like squirming over all

964
00:47:28,320 --> 00:47:31,160
Speaker 3: this news of people potentially risking so much. But he

965
00:47:31,320 --> 00:47:34,880
Speaker 3: was a long term holder of game Stop stock because

966
00:47:34,920 --> 00:47:37,760
Speaker 3: his mom, a nutritionist, decided to buy him some stock

967
00:47:38,160 --> 00:47:41,000
Speaker 3: in the company to teach him about the power of investing,

968
00:47:41,040 --> 00:47:44,080
Speaker 3: and she actually bought it during Kwanza and gave him

969
00:47:44,080 --> 00:47:46,279
Speaker 3: so she gave him ten shares. At the time, they

970
00:47:46,280 --> 00:47:48,840
Speaker 3: were six dollars a share. And this was back in

971
00:47:48,880 --> 00:47:51,719
Speaker 3: twenty nineteen. So if you remember what I was saying earlier,

972
00:47:51,800 --> 00:47:53,680
Speaker 3: when you hold the stock for at least a year

973
00:47:53,680 --> 00:47:56,480
Speaker 3: and then you sell, your tax hit is a lot

974
00:47:56,560 --> 00:48:01,040
Speaker 3: lot less. So he sold his shares. When he sold them,

975
00:48:01,160 --> 00:48:02,880
Speaker 3: I think the stock was well, I don't know exactly

976
00:48:02,840 --> 00:48:05,399
Speaker 3: what the stock was, but he made three thousand, two

977
00:48:05,640 --> 00:48:10,920
Speaker 3: hundred dollars on those shares, which is crazy. So yeah,

978
00:48:10,960 --> 00:48:14,120
Speaker 3: so shout out to Jaden, Shout out to Jaden, and

979
00:48:14,160 --> 00:48:18,200
Speaker 3: shout out to his mom, Nina for having the foresight to,

980
00:48:18,960 --> 00:48:21,359
Speaker 3: you know, take sixty bucks and instead of buying him

981
00:48:21,360 --> 00:48:23,760
Speaker 3: the game that he wanted, buy him shares in the company,

982
00:48:23,840 --> 00:48:27,320
Speaker 3: which is such a beautiful way for parents to teach

983
00:48:27,360 --> 00:48:30,840
Speaker 3: the power excuse me of wealth building to their kids.

984
00:48:30,840 --> 00:48:32,719
Speaker 3: So that was really cute. That was in the New

985
00:48:32,800 --> 00:48:35,000
Speaker 3: York Times. I'll post a link in the show notes

986
00:48:35,640 --> 00:48:36,160
Speaker 3: loves it.

987
00:48:36,480 --> 00:48:38,880
Speaker 2: Well, I'm gonna do a breaky boostie. I'll do the

988
00:48:38,920 --> 00:48:41,920
Speaker 2: break first. Oh did you see screech from Staved by

989
00:48:41,920 --> 00:48:42,640
Speaker 2: the Bell Dust?

990
00:48:42,920 --> 00:48:43,760
Speaker 3: Did That's?

991
00:48:44,000 --> 00:48:44,200
Speaker 2: Yeah?

992
00:48:44,440 --> 00:48:45,120
Speaker 3: Lung cancer?

993
00:48:45,239 --> 00:48:48,560
Speaker 2: Dang, I know he was forty four years old.

994
00:48:48,400 --> 00:48:51,239
Speaker 3: So it's very sad, you know, hap it is mm hm.

995
00:48:51,480 --> 00:48:52,760
Speaker 2: He had stage four lung cancer.

996
00:48:52,760 --> 00:48:54,719
Speaker 1: If you guys have not ever watched Saved by the Bell,

997
00:48:55,360 --> 00:48:59,560
Speaker 1: it was like just a pivotal like I don't even know,

998
00:48:59,719 --> 00:49:02,560
Speaker 1: like it was huge, like for at least for my

999
00:49:02,640 --> 00:49:05,520
Speaker 1: age range. And his name was Dustin Diamond. He was

1000
00:49:05,600 --> 00:49:09,319
Speaker 1: a funny, he was a comedian. And yeah, so he

1001
00:49:09,400 --> 00:49:12,920
Speaker 1: passed away today at forty four, So rest in peace

1002
00:49:12,920 --> 00:49:16,279
Speaker 1: to him. So that's my obviously, my my break. And

1003
00:49:16,320 --> 00:49:16,799
Speaker 1: actually have.

1004
00:49:17,640 --> 00:49:19,879
Speaker 2: So two boosts.

1005
00:49:20,360 --> 00:49:23,920
Speaker 1: One boost is okay, Stacey Abrams nominated for a Nobel

1006
00:49:23,920 --> 00:49:26,040
Speaker 1: Peace Prize and Black Lives Matter movement?

1007
00:49:27,640 --> 00:49:28,880
Speaker 3: Yeah, how did it not see this?

1008
00:49:29,600 --> 00:49:29,839
Speaker 2: Yeah?

1009
00:49:29,920 --> 00:49:32,040
Speaker 1: So I was like, I just saw that Stacy Abrams

1010
00:49:32,040 --> 00:49:34,760
Speaker 1: today was nominated for a Nobel Peace Prize getting Gurul

1011
00:49:34,880 --> 00:49:40,600
Speaker 1: god so. And so I actually know Opal and Patrice

1012
00:49:40,880 --> 00:49:43,520
Speaker 1: and I don't know Alicia who was the three women

1013
00:49:43,560 --> 00:49:48,040
Speaker 1: who you know, founded the Black Lives Matter movement. But

1014
00:49:48,040 --> 00:49:50,520
Speaker 1: I know Opa and I know Patrise and very well.

1015
00:49:50,560 --> 00:49:52,920
Speaker 1: We've traveled together and they're just amazing women. And Alicia,

1016
00:49:52,960 --> 00:49:54,920
Speaker 1: I'm sure it's amazing a woman as well. And I

1017
00:49:54,920 --> 00:49:56,920
Speaker 1: know it's a movement overall, because what I love about

1018
00:49:56,920 --> 00:49:58,760
Speaker 1: them is that if you try to tell them, great

1019
00:49:58,840 --> 00:50:01,319
Speaker 1: job with Black Lives Matter, are very clear that it

1020
00:50:01,400 --> 00:50:01,960
Speaker 1: is a movement.

1021
00:50:02,040 --> 00:50:06,319
Speaker 2: It is not specific individual people. But hello, so.

1022
00:50:06,320 --> 00:50:08,960
Speaker 1: A hate group quote unquote hate group for y'all haters

1023
00:50:08,960 --> 00:50:11,640
Speaker 1: out there, nominated for a Nobel Peace Prize.

1024
00:50:11,680 --> 00:50:14,000
Speaker 2: So peace on that, okay.

1025
00:50:14,600 --> 00:50:20,520
Speaker 1: And my final boost is today the book that I

1026
00:50:20,560 --> 00:50:23,480
Speaker 1: have been actively working on for more than a year,

1027
00:50:23,520 --> 00:50:27,319
Speaker 1: but kind of passively working on the the premise for

1028
00:50:27,360 --> 00:50:31,120
Speaker 1: my whole life, Get Good with Money Ten Simple Steps

1029
00:50:31,160 --> 00:50:32,760
Speaker 1: two becoming financially whole.

1030
00:50:33,000 --> 00:50:35,080
Speaker 2: Pre Orders are open today.

1031
00:50:35,120 --> 00:50:38,880
Speaker 1: The door is open if you go to Get Good

1032
00:50:39,080 --> 00:50:40,640
Speaker 1: with Money dot Com.

1033
00:50:41,239 --> 00:50:43,080
Speaker 3: You can trying to think, what's an air horn? Sound like?

1034
00:50:43,080 --> 00:50:43,600
Speaker 3: I forget?

1035
00:50:44,400 --> 00:50:49,200
Speaker 1: I don't even know. I think it is, like, so

1036
00:50:49,480 --> 00:50:52,279
Speaker 1: it's exciting, excitimental. I'm not gonna lie. Probably I'm gonna

1037
00:50:52,360 --> 00:50:54,560
Speaker 1: end off each podcast with Get Good with Money, I

1038
00:50:54,680 --> 00:50:57,640
Speaker 1: give Good Money dot Com. But I'm excited because it's

1039
00:50:57,760 --> 00:51:01,439
Speaker 1: just I wanted to write something that I needed back when,

1040
00:51:01,560 --> 00:51:03,920
Speaker 1: especially when I was really struggling financially, because it was

1041
00:51:03,960 --> 00:51:06,560
Speaker 1: scary too and it was like I felt like I

1042
00:51:06,680 --> 00:51:09,399
Speaker 1: was alone I was ashamed. I didn't know where to turn,

1043
00:51:09,719 --> 00:51:12,800
Speaker 1: and so I wanted to write a book that would

1044
00:51:12,840 --> 00:51:16,120
Speaker 1: guide people who were really struggling, guide people who were

1045
00:51:16,160 --> 00:51:18,359
Speaker 1: kind of like I'm okay, but I want to move

1046
00:51:18,440 --> 00:51:20,080
Speaker 1: to the next level and guide people who were in

1047
00:51:20,080 --> 00:51:22,720
Speaker 1: an even better position. So I wanted to write something

1048
00:51:22,760 --> 00:51:24,759
Speaker 1: that was really going to just be like this, like

1049
00:51:25,280 --> 00:51:29,359
Speaker 1: kind fun guide to your money. I know right now

1050
00:51:29,520 --> 00:51:33,200
Speaker 1: everyone is talking about options and shorting and making a

1051
00:51:33,239 --> 00:51:35,640
Speaker 1: ton of money in the market, But if y'all know me,

1052
00:51:35,760 --> 00:51:40,040
Speaker 1: I'm more so the financial fundamentals because I want you

1053
00:51:40,080 --> 00:51:42,120
Speaker 1: to do those other things. It's just that that's not

1054
00:51:42,160 --> 00:51:44,520
Speaker 1: what I teach. Because what I'm wanting is for you

1055
00:51:44,600 --> 00:51:47,279
Speaker 1: to have fundamentals in a way that you can go

1056
00:51:47,400 --> 00:51:50,160
Speaker 1: off and be great in these other kind of like

1057
00:51:50,360 --> 00:51:54,280
Speaker 1: more speculative areas, knowing that you have a strong financial foundation.

1058
00:51:54,440 --> 00:51:56,799
Speaker 1: And that's why I wrote it, and I'm just really

1059
00:51:56,840 --> 00:51:59,239
Speaker 1: proud of it. It's just it's really literally it feels

1060
00:51:59,280 --> 00:52:01,520
Speaker 1: like a love letter to my audience, the dream catchers,

1061
00:52:02,040 --> 00:52:04,160
Speaker 1: like just because it really came from my heart. And

1062
00:52:04,200 --> 00:52:07,239
Speaker 1: so if you are interested in getting your copy, you

1063
00:52:07,280 --> 00:52:11,279
Speaker 1: can go to get Good with Money dot com. It's

1064
00:52:11,320 --> 00:52:16,360
Speaker 1: available where all books are sold, and yeah, that's it,

1065
00:52:16,560 --> 00:52:17,359
Speaker 1: that's it all.

1066
00:52:17,600 --> 00:52:20,400
Speaker 3: Congratulations and one is so that's pre ordering now, and

1067
00:52:20,400 --> 00:52:22,360
Speaker 3: then the book is is dropping down March thirty.

1068
00:52:22,800 --> 00:52:24,480
Speaker 1: So what happens is you for pre order now and

1069
00:52:24,520 --> 00:52:26,879
Speaker 1: then they actually mail them out to you like March thirty.

1070
00:52:26,920 --> 00:52:29,040
Speaker 1: I think. I think, depending what you get, you'm actually

1071
00:52:29,120 --> 00:52:31,120
Speaker 1: might actually get it March thirty first, but just know

1072
00:52:31,160 --> 00:52:32,640
Speaker 1: they get mailed out March thirtieth.

1073
00:52:33,160 --> 00:52:36,240
Speaker 3: Oo ooh, you know what, I'm gonna add a special

1074
00:52:37,080 --> 00:52:40,200
Speaker 3: bonus boost because my husband just texted and we found

1075
00:52:40,239 --> 00:52:42,919
Speaker 3: out his mom has been sick with COVID and she's

1076
00:52:42,960 --> 00:52:45,520
Speaker 3: been in the hospital for ten days now and she's

1077
00:52:45,560 --> 00:52:52,040
Speaker 3: getting out tomorrow. Thank god. Yes that was scary, very scary,

1078
00:52:52,680 --> 00:52:54,719
Speaker 3: but she is doing really well. So thank you to

1079
00:52:54,760 --> 00:52:57,680
Speaker 3: all the doctors and nurses who I have been harassing

1080
00:52:58,600 --> 00:53:03,440
Speaker 3: the past. We can have because because a woman wants communication,

1081
00:53:03,560 --> 00:53:06,120
Speaker 3: you know, we like that. So yeah, to the doctors

1082
00:53:06,120 --> 00:53:08,759
Speaker 3: and nurses at Columbia Presbyterian and all the doctors and

1083
00:53:08,840 --> 00:53:11,359
Speaker 3: nurses across the country who are on the front lines

1084
00:53:11,400 --> 00:53:14,520
Speaker 3: of this ongoing war, thank you so much. And we're

1085
00:53:14,560 --> 00:53:16,880
Speaker 3: just so relieved because she had a you know, she

1086
00:53:16,920 --> 00:53:21,160
Speaker 3: has all kinds of uh they call them co morbidities,

1087
00:53:21,160 --> 00:53:23,719
Speaker 3: which I kind of hate that word, but basically like

1088
00:53:23,840 --> 00:53:28,240
Speaker 3: pre existing conditions that made this pretty dicey. So luckily

1089
00:53:28,320 --> 00:53:30,800
Speaker 3: she didn't she wasn't too too bad. But she was

1090
00:53:30,880 --> 00:53:33,680
Speaker 3: in the hospital for ten days and she's so so

1091
00:53:33,760 --> 00:53:36,719
Speaker 3: excited to go home, and we're so excited that she recovered.

1092
00:53:36,800 --> 00:53:39,640
Speaker 3: So yeah, this is really I'm gonna go up and

1093
00:53:39,640 --> 00:53:40,600
Speaker 3: give them a big old hug.

1094
00:53:40,800 --> 00:53:42,959
Speaker 1: Yes, because that's I mean, there's nothing like your parent.

1095
00:53:43,040 --> 00:53:45,880
Speaker 1: It's just just not you know. So yes, we are

1096
00:53:45,920 --> 00:53:46,600
Speaker 1: grateful for that.

1097
00:53:47,239 --> 00:53:48,600
Speaker 3: Yeah, we need Abuela back.

1098
00:53:49,280 --> 00:53:52,040
Speaker 2: Yes, I'm walita'.

1099
00:53:51,040 --> 00:53:55,080
Speaker 3: Weanita all right, Well be well, and congrats Tiffany. So

1100
00:53:55,080 --> 00:53:57,240
Speaker 3: so excited for you, big.

1101
00:53:57,120 --> 00:53:58,720
Speaker 2: Gal, Big Things.

1102
00:53:58,760 --> 00:54:00,759
Speaker 1: I can't wait for you can make your full announcement

1103
00:54:00,800 --> 00:54:02,480
Speaker 1: because big Thing's over there, Big.

1104
00:54:02,400 --> 00:54:05,560
Speaker 3: Things and twenty twenty one. Yes, so, and thank you

1105
00:54:05,560 --> 00:54:07,520
Speaker 3: again to Westwood One. We're so happy to be part

1106
00:54:07,520 --> 00:54:08,880
Speaker 3: of the Westwood one family.

1107
00:54:09,480 --> 00:54:10,120
Speaker 2: Yes we are