Speaker 1: Hey, Hey, hey guys, It's me Tiffany and it's Manjo.
Speaker 1: We just want to say thank you guys. You guys
Speaker 1: are amazing thanks to you. Since we started our podcast,
Speaker 1: it was just me and Mandy listening to ourselves to
Speaker 1: now we get over one hundred thousand downloads a month,
Speaker 1: and I know it seems like that's awesome, but we
Speaker 1: can do even better.
Speaker 2: And we have a favor to ask, just.
Speaker 3: A tiny favor, if you could please share our show.
Speaker 3: Share it on your social media. You can tag us
Speaker 3: at Brown Ambition Podcast. Take a screenshot of the show
Speaker 3: that you're listening to and share it on Twitter, on Insta,
Speaker 3: on Facebook, tell a friend to tell a friend. You
Speaker 3: can tag us on social media. We're at Brown Ambition
Speaker 3: Podcast on Insta, at the BA Podcast on Twitter, and
Speaker 3: of course our Facebook group. You can find us under
Speaker 3: Brown Ambition. Don't forget to tag our personal handles too.
Speaker 3: On Insta. I'm at Mandy Money Mandy with an Ie,
Speaker 3: and Tiffany is at the Budget Nista. When you tag us,
Speaker 3: we will share your post and help amplify it even further.
Speaker 3: Thank y'all for all the love this is just gonna
Speaker 3: help us give us that little extra brown boost.
Speaker 1: Hey, hey, hey, I felt like I just something special.
Speaker 2: We're back, We're black, We're brown, ambit.
Speaker 3: I needed that we're brown as an ambition, right.
Speaker 2: Yes, the hell Manas we've been gone for.
Speaker 3: So long, I know, it does feel like it's been
Speaker 3: a while. It's only been a couple of weeks, I guess,
Speaker 3: but yeah, it's like you have another rio. I was
Speaker 3: only gone for two weeks for the entire pregnancy or
Speaker 3: the entire maternity leave. Listen, we did do an Instagram live,
Speaker 3: but we did not. We could not save the audio.
Speaker 3: We had technical difference.
Speaker 1: Yes, honestly, Instagram is be ahater, especially when you do
Speaker 1: one for like I guess, a decent amount of time.
Speaker 1: Like my hands always shake whenever I do an Instagram
Speaker 1: live after, like when I want to save it, because
Speaker 1: sometimes Instagram's like Psyche can move to slow. It's gone rude,
Speaker 1: I know. So you try to save it because you
Speaker 1: have a choice. You can go straight to igtv or save.
Speaker 1: But the problems they don't tell you is that if
Speaker 1: you save it and want to upload it later to IGTV,
Speaker 1: it doesn't let you if it's over fifteen minutes. So
Speaker 1: like in the moment, you have to go direct to
Speaker 1: IGTV and you have to think of a cap so
Speaker 1: you have to make all these choices within like just
Speaker 1: a few minutes, and it's very nerve wracking and needless
Speaker 1: to say, I didn't make.
Speaker 2: My choices ahead of time. I was like, oh, I
Speaker 2: sho done this ahead of time?
Speaker 3: Sweating right now. But look, a lot has happened since
Speaker 3: the last time we were here, at least in podcast land,
Speaker 3: and we have been teasing a little nugget of news.
Speaker 3: I guess we can tell you guys. I mean, I
Speaker 3: guess we kind of owe it to you. But a
Speaker 3: piece of news that we dropped in the live that
Speaker 3: I feel like Tiffany should definitely share is what's coming
Speaker 3: up for you?
Speaker 2: Yes? So wait which one? The book?
Speaker 3: Girl? It's your announcement the book? Yeah? No, no, wait
Speaker 3: hitting up Money magazine.
Speaker 2: Oh, Money Magazine.
Speaker 3: I'm like, there's too much good news. Go ahead.
Speaker 2: So yes, your girl is the face? Oh gin.
Speaker 1: You know it's so funny because we're taking February first,
Speaker 1: which is beginning a Black History month. Okay, but your
Speaker 1: girl is the face and the very first black woman
Speaker 1: on the Money magazine cover by herself. I think they
Speaker 1: had like a family wants like as like a stock
Speaker 1: photo family. But yeah, I'm on the cover of Money magazine.
Speaker 1: It's a digital magazine now, but it used to be like,
Speaker 1: you know, like I used to buy Money magazine. So
Speaker 1: it's just so crazy that, like, uh, to be on
Speaker 1: the cover and what's what I love? It was like
Speaker 1: such a blackly black black undertaking because Leela Nima, who
Speaker 1: does my my, my, my makeup, black, Tanetta Bell, who
Speaker 1: does all of our pictures, she actually did our our
Speaker 1: our Brand Ambition picture that you see for you know,
Speaker 1: the cover of Brand Ambition. Tanetta is black. My stylist
Speaker 1: Tracy who's also my publicist. You know, she styled me
Speaker 1: that day.
Speaker 2: Black. It just it was amazing And.
Speaker 1: To see the cover, it's just it's just surreal because
Speaker 1: I was an awkward kid who always thought that there
Speaker 1: was something wrong with my the like the darkness of
Speaker 1: my skin and the kinkiness of my hair, and so
Speaker 1: for it to be on the cover of a magazine like,
Speaker 1: oh but it's cute girl, it's kind of surreal.
Speaker 2: So that's awesome news.
Speaker 3: I'm still I'm still so in awe. That is huge, huge, huge, huge.
Speaker 3: The first black woman on Money magazine. I was hummed
Speaker 3: because my oh, you're gonna love this. Me and my cousin.
Speaker 3: Actually we were going to do a vision board. Well,
Speaker 3: we actually did do vision We had a vision board
Speaker 3: party on Friday and we were at CVS looking in
Speaker 3: the magazine aisle and I was like, where's money. I
Speaker 3: want to get the money magazine. I didn't realize you
Speaker 3: couldn't get the actual business. I know, can they like
Speaker 3: make one if you order it? I know.
Speaker 1: Well, it's because now you know how all magazines basically,
Speaker 1: no magazines are making money anymore.
Speaker 3: So they're expensive too. We spend ninety dollars on like
Speaker 3: a few magazines. I was like, so this is why
Speaker 3: they're dying.
Speaker 1: Yeah, because they're running at Yeah, it's just so most
Speaker 1: of them are just digital. But it's still like just
Speaker 1: such an amazing hon ourselves.
Speaker 3: That's huge. TIFFs so huge. So Coy yes and the
Speaker 3: other news for us for Brown Ambition. So we have
Speaker 3: been you guys know, we've been independent forever and we've
Speaker 3: done the show well, I mean, I'm not even going
Speaker 3: to pretend like you know, we were podcasting experts. In
Speaker 3: the beginning. We did a lot of We chatted about
Speaker 3: the beginning of Brown Ambition actually during our fifth year
Speaker 3: anniversary show in September, so I definitely recommend going back
Speaker 3: and checking that episode out for like the beginnings of BA.
Speaker 3: But we have been independent. I wait, how do you
Speaker 3: spell it way?
Speaker 2: What you know about me?
Speaker 3: That's hilarious, I can't spell it anyway. For over five
Speaker 3: years now, we had worked with an ad agency because
Speaker 3: you know, it's cute to make money sometimes so and
Speaker 3: to keep the show free to you guys and relatively
Speaker 3: affordable to produce. We started to work with an ad agency,
Speaker 3: but we started to feel like it would be nice
Speaker 3: to get the support and I don't know, the support
Speaker 3: and muscle of a podcast network to actually help the
Speaker 3: show take it to the next level, because you guys
Speaker 3: have really made Brown Ambition what it is through word
Speaker 3: of mouth. And yes, we get some love from the
Speaker 3: podcast networks throughout the year and all of that, but
Speaker 3: it's really been our early listeners who have just like
Speaker 3: told a friend to tell a friend and have been
Speaker 3: building and growing with us ever since you know, we started. However,
Speaker 3: we're very, very excited because we finally signed a deal
Speaker 3: with a new podcast network. Yeah, Adia you probably haven't
Speaker 3: heard of them, but they are a huge, huge, huge
Speaker 3: in the radio space and they have a podcast network
Speaker 3: they are called Westwood One, which is the behind the
Speaker 3: scenes face of Cumulus Media. So we're very excited about
Speaker 3: Westwood One. And we have to give them a big,
Speaker 3: big shout out for taking Brown Ambisi on and yeah,
Speaker 3: loving the show and we're excited to work with them
Speaker 3: and stay tuned for more.
Speaker 1: Yeah, I'm excited about that because it's like, you know,
Speaker 1: we've been doing this for some time. We've built like
Speaker 1: this nice juggernaut of like an audience, and now it's like, okay,
Speaker 1: you know, we this is just the next level for us.
Speaker 2: I'm excited to take you guys alone for the ride.
Speaker 3: Yeah. And if you know, if you're wondering, okay, have
Speaker 3: you guys sold out, Like what does this mean? It
Speaker 3: doesn't mean that we've sold out at all, honestly. If anything,
Speaker 3: if you brand ambition, you should be very very excited
Speaker 3: for us because this is just going to help us
Speaker 3: get this show in front of more people that can
Speaker 3: share in the joy and share in the bea goodness
Speaker 3: that we share each week. And Westwood One, you know,
Speaker 3: and maybe we should we can be like candid about this.
Speaker 3: I mean, Tiffany and I had lots and lots of
Speaker 3: discussions not just with Westwood One, but other networks as
Speaker 3: well over the past, like when did I start this process,
Speaker 3: like August, July or August, talking in different networks, and
Speaker 3: we were very adamant that, you know, we want to
Speaker 3: retain autonomy over you know, what kind of shows we do,
Speaker 3: of course, what kind of brands we advertise, because that's
Speaker 3: important to us. You know, we don't want to talk
Speaker 3: about a brand that we don't like or that isn't
Speaker 3: going to be good for you guys. So yeah, and
Speaker 3: so we retain that independence and that was really and
Speaker 3: truly you know, important to us.
Speaker 1: No, it is, and I'm really because we've seen all them.
Speaker 1: I mean, everybody watched What Is It Unforgivable with Dave
Speaker 1: Chappelle and you've heard about like Kanye complaining about not
Speaker 1: having ownership. He just I just didn't want that for
Speaker 1: for me, for Mandy and for the projects that we
Speaker 1: do moving forward.
Speaker 2: So we were just really.
Speaker 1: Adamant that, you know, it's not just creative control, but
Speaker 1: like ownership of what we create.
Speaker 2: And so we're just I'm just proud of us. I
Speaker 2: feel like we're we are.
Speaker 1: We are out of our teenage podcast years and now
Speaker 1: we're into our young adult podcast podcast journey.
Speaker 3: Yes, I'm excited for the next chapter with you, Tiffany.
Speaker 3: And here's to another five years, ten years. I don't
Speaker 3: know what will be podcasting on Mars. Maybe in the Tesla,
Speaker 3: I don't know. Maybe And yeah, and it's been a
Speaker 3: big it's been a big month for me too. I
Speaker 3: actually left my job, my longtime job of five years
Speaker 3: at lending Tree. For those of you who I don't,
Speaker 3: I wasn't suit. I didn't always talk about work, but
Speaker 3: for a long time I was a senior content director
Speaker 3: at a company called lending Tree. And I came to
Speaker 3: lending Tree through Magnified Money, which my Magnified Money, which
Speaker 3: Tiffany and I both have connections too, because I joined.
Speaker 3: I was like one of the first four or five
Speaker 3: employees at Magnified Money in twenty sixteen, and they hired
Speaker 3: me to run their content. And that was the same
Speaker 3: year when Magnified Money partnered with Tiffany with the second
Speaker 3: or third Liverature Challenge maybe edition.
Speaker 2: Yeah, that was the third one.
Speaker 3: Yeah, And so when I when I joined, I remember
Speaker 3: them being like, okay, cool. One of the first things
Speaker 3: you can do is create content for this partnership with
Speaker 3: you know this lady named the Budgetista. I'm like, do
Speaker 3: I eber so? Yeah, Magnified Money was so good to me.
Speaker 3: And they were acquired by lending Tree a year after
Speaker 3: I joined, And I mean, I got to grow that
Speaker 3: team from two to over thirty and it's just been
Speaker 3: such an amazing journey. And I feel like every career
Speaker 3: question we got the past few months from people, I
Speaker 3: was sort of, you know, I was in the same position,
Speaker 3: you know, wondering when's the right time to make a
Speaker 3: move and and you know, what will the next move be?
Speaker 3: And we'll find you know, will you find true happiness
Speaker 3: now that you've had some time to Like, I really
Speaker 3: have had time to figure out what I like and
Speaker 3: don't like about what I'm doing or where my strengths are.
Speaker 3: And I'm not prepared to announce anything right now. I'm
Speaker 3: not allowed to technically announce anything right now, But hopefully
Speaker 3: by next week's show, I'll be able to share with
Speaker 3: you guys what is next for me. But I will
Speaker 3: tell you that it's very, very.
Speaker 2: Exciting yeah, it's very exciting.
Speaker 3: Yes, yes, yes, so lots and lots of stuff going on,
Speaker 3: but good stuff. And yeah, twenty twenty one is gonna
Speaker 3: be eyed if we just don't catch COVID and die.
Speaker 2: Oh god, So.
Speaker 1: Speaking of craziness in twenty twenty, you want to talk
Speaker 1: about what everybody's been talking about?
Speaker 2: Game stop? Shorting all of that headphones.
Speaker 3: We have to talk about game stop. Yes. Two of
Speaker 3: my cousins were like, what is this game stop situation?
Speaker 3: I can't wait? Game stock? I keep calling it game
Speaker 3: stock because all the stock anyway, game stop? Yes, everyone
Speaker 3: has been talking about this. Do you want to tee
Speaker 3: it up? Like, what's the what's the background tip as
Speaker 3: you understand it?
Speaker 1: Well, the background tip as I understand it, is that
Speaker 1: you have to just so there's two types of investing.
Speaker 1: Well there's many, but two core types. There's like the
Speaker 1: long position. That's when you like buy and that's when
Speaker 1: you buy and hold. This is like if you think
Speaker 1: of oh, who's that old guy, the oracle of Amaha.
Speaker 3: What's his name, Warren Buffett?
Speaker 1: There you go, so like Warren Buffett, right, he's the
Speaker 1: king of that. Like you buy good stock at a
Speaker 1: discount you hold, hold, hold the stock. You know, the
Speaker 1: stock increases in value. So that's his position, and honestly,
Speaker 1: that's what most people. You know, when you think about investing,
Speaker 1: you think long term, so in five years or more, right,
Speaker 1: But then there's some folks who take the short position,
Speaker 1: and that's when you're kind of getting you know, wanted
Speaker 1: to make your money now, it's more speculative. A lot
Speaker 1: of hedge funds navigate in this space. So when you're
Speaker 1: taking the short position, or if you're shorting a stock,
Speaker 1: you're with okay. When you're taking a long position, you're
Speaker 1: hoping the stock goes up in value because you bought
Speaker 1: a four dollar you wanted to go up to two
Speaker 1: dollars and three thousand four dollars. But when you short
Speaker 1: a stock, you're actually hoping the stock goes down in
Speaker 1: value because you borrowed the stock at a certain amount,
Speaker 1: So you don't really you're not you haven't paid for it,
Speaker 1: but you've borrowed a stock at a certain amount, and
Speaker 1: you're hoping for it to go down so you can
Speaker 1: pocket the difference when you do buy it and when
Speaker 1: you do give it back. So it's like I borrow
Speaker 1: the stock at two dollars the stock price went down
Speaker 1: to one dollar. You know, I pay for the for
Speaker 1: the one dollar stock, and I'm able to give the
Speaker 1: person back there too, But I basically I made a
Speaker 1: dollar off each stock. So it's when you get to
Speaker 1: borrow a stock and pay and get to keep pocket
Speaker 1: the difference because the stock has gone down.
Speaker 3: Girl, as many times as if I have heard so
Speaker 3: many people explain this to me and read about it,
Speaker 3: I'm still just like short got it, Like it's just
Speaker 3: it's crazy. Well, it's crazy. It's like it's very sophisticated
Speaker 3: investing that is typically done by like sophisticated investors like
Speaker 3: hedge funds, Like Tiffany said, but I just the intersection
Speaker 3: between Wall Street and Reddit just like collided with this
Speaker 3: whole game saying and they're calling it robinhood has been
Speaker 3: like it's being dragged for days over their reactions. So
Speaker 3: what so basically talk about you know, game stop and
Speaker 3: how Reddit and how I don't know, like the David's
Speaker 3: of America decided to use this like hedge fund shorting
Speaker 3: strategy to beef up game stops value and and and
Speaker 3: take the stock to new heights and basically make these
Speaker 3: hedge funds lose like billions and billions of dollars.
Speaker 1: So one hedge fund in particular, Melvin Capitol, Right, So
Speaker 1: they were shorting gamestock like crazy short short short, so,
Speaker 1: which means that they're betting on game stock losing its value,
Speaker 1: which is kind of mean when you think about it.
Speaker 1: It's almost like someone comes to your basketball game when
Speaker 1: you're a kid and bets against you losing, like, yesh,
Speaker 1: they're gonna lose by two points.
Speaker 2: Look, oh, they gotta lose bout one point.
Speaker 1: And not only just that, but kind of manipulate the
Speaker 1: market so you can lose. So let's not pretend like
Speaker 1: they're just waiting and hoping and crossing your fingers.
Speaker 2: Now there's market manipulation.
Speaker 1: So because the purpose of the short is I want
Speaker 1: your stock to go down so I can pocket the
Speaker 1: difference of the stock that I borrored against you. And
Speaker 1: so it's mean and it's nasty, and it's you know,
Speaker 1: low bar investing if you ask me, which you haven't,
Speaker 1: but I'm telling you anyway. So, people on Reddit, there's
Speaker 1: this group called Wall Street Bets. It's about four hundred
Speaker 1: four million members, mostly guys. From what I can see,
Speaker 1: you know, they started to get kind of pissy and
Speaker 1: they were just like, why is it that these hedge
Speaker 1: funds get to bet on good companies going down and
Speaker 1: then encouraging these good companies to go down.
Speaker 2: I don't like it.
Speaker 1: How about if we started to buy game stock stock,
Speaker 1: so as you know, one of the reasons, well, there's
Speaker 1: so many reasons why stocks can go up and down,
Speaker 1: but certainly stocks being purchased in mass is one of
Speaker 1: the reasons why a stock's price can go up, and
Speaker 1: so that's what they decided to do independently, like I
Speaker 1: think we should just buy.
Speaker 2: So people were buying and buying and buying.
Speaker 1: Now, remember the only way that if you're shorting a
Speaker 1: stock that you make money is when the stock goes down,
Speaker 1: because you get to save the difference. Now, if the
Speaker 1: stock goes up, that means you actually have to pay
Speaker 1: back the person that you borrowed that amount of money.
Speaker 2: So you actually can.
Speaker 1: Lose, and lose by a lot because you let's just say,
Speaker 1: if you have like a long position, you invest a
Speaker 1: thousand dollars and the stock goes to zero, you just
Speaker 1: lost a thousand, that's it.
Speaker 2: But if you're shorting a stock, and you borrow ten
Speaker 2: stocks and you borrow.
Speaker 1: Them for twenty dollars, and you tell yourself, you know what,
Speaker 1: the stocks can't go down to five dollars, So when
Speaker 1: it goes down to five, you know, you give them
Speaker 1: back there their twenty dollars stock.
Speaker 2: You get to keep fifteen for yourself.
Speaker 1: But if that stock goes up to twenty, goes up
Speaker 1: to thirty, and you borrored it for twenty, now you
Speaker 1: owe ten dollars per stock. So you can actually own
Speaker 1: infinite amount of money because stocks can theoretically go up
Speaker 1: as much as possible, you know. So that's what the
Speaker 1: game stoppers were trying to do, Like they're trying to
Speaker 1: force like Melvin Melvin Capital, that hedge fund in particular,
Speaker 1: to basically bankrupt because we're going.
Speaker 2: To make the stock.
Speaker 1: You you bought this stock for say five dollars a share,
Speaker 1: Melvin Capital by the time, like I mean, the last
Speaker 1: like the high sight saw the stock goal was four
Speaker 1: hundred and something dollars. That means they were for each
Speaker 1: stock they had in the hole for three.
Speaker 2: Hundred and fifty then fifty dollars.
Speaker 1: That's insane, literally billions of dollars in the hole because
Speaker 1: eventually you have to give back what you borrowed and
Speaker 1: pay what you said you were going to pay.
Speaker 2: You know what the stock is actually worth now?
Speaker 3: And if so many additional questions about this whole thing.
Speaker 3: I'm just but I don't want to get like into
Speaker 3: the weeds, weed weeds, and so it was, but I
Speaker 3: definitely want to know, like, man, how does this work?
Speaker 2: So you borrow?
Speaker 3: But does the bar work? Okay, I won't ask.
Speaker 1: But it was just crazy because and you know, so
Speaker 1: of course, you know, these poor, poor wealthy heads from
Speaker 1: people are like, oh, stock manipulation. Look, meanwhile, that's what
Speaker 1: they've been doing literally forever. But it's only stock manipulation
Speaker 1: when when Joe Schmos do it. But when they do
Speaker 1: it when they try to drive a company out of
Speaker 1: business so they can make money, it's all good. So
Speaker 1: you know, that's what happened. And so and sure enough
Speaker 1: Melvin Melvin capital that headphone and went out of business.
Speaker 1: They had to get three billion dollars, well they have
Speaker 1: to get three billion while they went out of business,
Speaker 1: but they had to get close to three billion dollars infused.
Speaker 1: And so at least for now, it looks like the
Speaker 1: Wall Street bets guys have like tentatively won and so
Speaker 1: now they're doing it for other stocks like AMC, the Theater, BlackBerry,
Speaker 1: and so they're looking.
Speaker 3: Some ecs back and beyond.
Speaker 1: Yes, so they're basically just like if you look at
Speaker 1: kind of like what they're saying, they're like, you can
Speaker 1: no longer make it that no one else can win
Speaker 1: but you, because that's what's been happening is that they're
Speaker 1: a handful of very wealthy, mostly white men that have
Speaker 1: controlled the market the up, the down, the side to side.
Speaker 2: They have done so in just in a way that
Speaker 2: just they win.
Speaker 1: And there are a group of other people who realize,
Speaker 1: you know what, there's only a handful of y'all. If
Speaker 1: we act in masks together, we can win. And so
Speaker 1: that's what they're trying to try to do. Now, some
Speaker 1: people literally I know somebody who like you know, invested
Speaker 1: five thousand dollars and got back a hundred and something thousand.
Speaker 2: I mean, people were making big bank off of this. Now.
Speaker 1: The thing about sure to remember it's or just even
Speaker 1: in an investing in this kind of speculative way, because
Speaker 1: let's be real, game stop is not worth four hundred
Speaker 1: and thirty something dollars.
Speaker 2: It's just not so you don't know.
Speaker 1: Literally, within an hour it could be worth You bought
Speaker 1: it for four hundred and thirty dollars thinking it's going
Speaker 1: to go up, and within an hour it's worth twenty dollars. Again,
Speaker 1: so you can lose a ton of money, you know,
Speaker 1: when you invest in this way. But some people were
Speaker 1: willing to take the risk. And you know, the way
Speaker 1: the stocks works is that the bigger the real risk
Speaker 1: the risk, the bigger the reward. I'm not I'm risk adverse.
Speaker 1: So I was not playing that game. I was watching
Speaker 1: from the sidelines, like okay, but.
Speaker 3: Yeah, I didn't put it like once my cousins are
Speaker 3: texting me the boat has sailed, like you should have
Speaker 3: bought sales. Yeah, it's too late for me. It's fine.
Speaker 3: I don't. I don't follow Reddit for stock tips, but
Speaker 3: I do want to talk about because at this point
Speaker 3: this has been going on for it went out, It
Speaker 3: went on throughout January. It became national news in the
Speaker 3: last couple of weeks. But people logged in or the
Speaker 3: markets open today which is Monday, February first, and game
Speaker 3: Stop was down one hundred dollars a share, so it
Speaker 3: was down. Let me see, I have been in my notes.
Speaker 3: It fell from three twenty eight to two twenty five today,
Speaker 3: So that's a that's a thirty percent drop. I mean,
Speaker 3: a three percent drop is a big deal for a stock.
Speaker 3: So we're already kind of seeing maybe we've seen the peak.
Speaker 3: Maybe we have, but part of me definitely feels like
Speaker 3: this is a bit of a flash in the pan.
Speaker 3: It was just like a perfect storm of events that
Speaker 3: kind of came together. It made this whole thing a
Speaker 3: viral moment. And I know that they're trying to do
Speaker 3: it for other stocks. So my cousin was asking about
Speaker 3: bed Bath and Beyond and I'm like, I don't know,
Speaker 3: I want to take a look, and I mean bed
Speaker 3: Bath and Beyond, BlackBerry and AMC are also are all
Speaker 3: like thirty dollars stocks right now, They're not like they're
Speaker 3: not as huge as game Stop. Is my biggest concern
Speaker 3: because there's people who've made I mean you said thousands,
Speaker 3: and I hate the word people because it kind of
Speaker 3: like how many is it? I don't know for sure,
Speaker 3: and I don't want to like make this a bigger
Speaker 3: deal than it was. But there have been a few
Speaker 3: at least that have made potentially millions of dollars on
Speaker 3: this on this whole thing. But let's talk about taxes,
Speaker 3: because you know, one of the things I was talking
Speaker 3: to my cousin about is if you want to get
Speaker 3: in and make money off of game Stop and like,
Speaker 3: let's say you bought stock at the beginning of January
Speaker 3: because you follow on Reddit and you just want to
Speaker 3: get and you bought it at what was it five
Speaker 3: ten dollars a share, and yeah, so you made you know,
Speaker 3: thirty x your money. You don't really make that money
Speaker 3: until you sell the stock. And in order to sell
Speaker 3: the stock that soon after buying it, you'd have to
Speaker 3: pay short term capital gains taxes, which are in effect
Speaker 3: your tax rate like your ordinary income tax rate, which
Speaker 3: depending on your income, you know, can be up to
Speaker 3: thirty seven percent. So that is another reason why sometimes
Speaker 3: it pays to hold stocks for at least a year,
Speaker 3: because after a year, you have what is then called
Speaker 3: a long term capital gain, which is when you sell
Speaker 3: a stock you've you've held for a year and then
Speaker 3: you pocket that profit. But taxman's going to come either way,
Speaker 3: the long term tax yeah, either way. So what I
Speaker 3: would say that I just I'm thinking about the the
Speaker 3: people who jumped on this bandwagon got super excited, you know,
Speaker 3: they hit the lottery, basically won the lottery in a sense,
Speaker 3: and they immediately sold it. Because these are not wealthy
Speaker 3: investors who have time to wait, Like they could be
Speaker 3: people who have rent to pay, or they need to
Speaker 3: get a car so they can go to work, or
Speaker 3: they or they're just excited about having cash in the bank,
Speaker 3: so they just cash out, you know. And if you're
Speaker 3: listening and that's you, just get an accountant and try
Speaker 3: to figure out what will your tax hit be so
Speaker 3: that you can set that money aside. Now those taxes
Speaker 3: won't be due until April of next year, so April
Speaker 3: twenty twenty two. But I really would mean, imagine, imagine
Speaker 3: if you're someone who's who's sold the GameStop stock and
Speaker 3: you've got all this profit and then you spend it
Speaker 3: or you use it on whatever, and then next spring
Speaker 3: comes around and you're like, what the fuck, That's what
Speaker 3: I'm scared of, and I that's going to be a
Speaker 3: story next year, I feel like, so definitely be cautious
Speaker 3: with something like this. You guys, the true winners are
Speaker 3: the ones who listen who loved the Game Stop and
Speaker 3: took advantage of the fact that the stock was really cheap,
Speaker 3: and they bought it a year ago, And there are
Speaker 3: people or longer ago. And you know that is you know,
Speaker 3: a buy and hold in mentality. And like you said,
Speaker 3: Warren Buffett, you know, you value investing. You want to
Speaker 3: invest in companies that you think, you know, you understand
Speaker 3: the fundamentals of their business and how they're performing. Or
Speaker 3: you're looking ahead and you're saying, okay, well, you know
Speaker 3: Game Stop. Yeah, they've taken a hit because no one
Speaker 3: plays physical video games anymore. They all download them or whatever.
Speaker 3: But you know, I like the way the CEO gave
Speaker 3: a ted talk about the future of his business or whatever.
Speaker 3: And I'm gonna throw some money here because I think
Speaker 3: long term the company will be fine. That's a very
Speaker 3: different style of investing. And yeah, but for me, it's
Speaker 3: a no for me, dog, I'm not I'm not hopping
Speaker 3: on that Game Stop GameStop bandwagon. I don't play video games.
Speaker 3: I haven't played since the Mario sixty four wasn't they
Speaker 3: was the thing. But I'm excited that people are talking
Speaker 3: more about, you know, the stock market but it's just
Speaker 3: Craig Cray.
Speaker 2: No, it is Craig Cray. Honestly, I think.
Speaker 1: I think that if this is your first foray into
Speaker 1: the market, it should not be into shorting and not options,
Speaker 1: And honestly, your first foray into the market should look
Speaker 1: more like index funds should look more like, which is
Speaker 1: when you a fund that mirrors an index a market
Speaker 1: that's already that's like S and P five hundred, meaning
Speaker 1: like when it mirrors the investments that are in that market. Right,
Speaker 1: So when SMP five hundred goes up, S and P
Speaker 1: five hundred is a market that big five hundred big
Speaker 1: US companies stocks in five hundred big US companies. So
Speaker 1: when those companies go up, then because your index fund
Speaker 1: is mirroring that, it goes up. When it goes down,
Speaker 1: it goes down. So when you invest in an index fund,
Speaker 1: you're not looking to beat the market. You looking to
Speaker 1: meet the market basically like you do what the market does.
Speaker 1: So index funds mutual funds. So a mutual fund and
Speaker 1: index funds are typically passively managed, meaning that it's an
Speaker 1: algorithm that picks it ain't nobody, but a mutual fund
Speaker 1: is typically actively managed. Right, So That means that there's
Speaker 1: a person that's picking the investments that are in the fund.
Speaker 1: So the fees associated for investing in that fund are
Speaker 1: a little bit higher because a person. That person has
Speaker 1: to get paid. But mutual funds, you know, are looking
Speaker 1: to beat the market. That's why you pay that person extra.
Speaker 1: But honestly, research has shown that long term they really don't.
Speaker 1: Mutual funds don't necessarily beat the market, right or ETFs
Speaker 1: and ETF is like the love child of like a
Speaker 1: stock and a mutual fund, right, So it's a it's
Speaker 1: a basket of stocks and bonds and and but they
Speaker 1: it trades on the market. Because when it comes to
Speaker 1: mutual funds and index funds, you can only buy them
Speaker 1: once a day at the end of the day. But
Speaker 1: mut injex fund I mean ETFs you can buy and
Speaker 1: trade during the day. So those are the three I
Speaker 1: would look in mutual funds, index funds, and ETFs if
Speaker 1: I was just starting, because basically you get to just
Speaker 1: invest in a basket.
Speaker 2: You don't have to choose in.
Speaker 1: A lot of people will tell you like, oh, I
Speaker 1: don't do that, but it's a good place to start
Speaker 1: if you're not doing anything else. You can literally just say, hey,
Speaker 1: I'm going to put fifty bucks a month into this
Speaker 1: index fund and that's it. If you do that, you're
Speaker 1: still better off than most people.
Speaker 3: Yeah. Absolutely, And I just talked about taxes, and you know,
Speaker 3: this type of quick, short term training trading can be
Speaker 3: very expensive if you're going to be you know, if
Speaker 3: you're looking to make money and cash it out if
Speaker 3: you're not looking to stay in the market long term.
Speaker 3: And that's another reason people should start with their tax
Speaker 3: advantaged say investing vehicles like your four one K or
Speaker 3: an Ira, because there you have some tax advantages to
Speaker 3: decrease your you know, potential tax liability. Personally, I do
Speaker 3: have my little fun investing account where we have individual stocks.
Speaker 3: You know, I think there's like ten different companies that
Speaker 3: that were invested in, and I have a few that
Speaker 3: I like, and my husband has a few that he's
Speaker 3: he buys, and we we agree to like put you know,
Speaker 3: a certain amount of money in every quarter to that
Speaker 3: little account, and that is where we might choose a
Speaker 3: game stop. But it's not for me, like I just
Speaker 3: I don't understand it. So and that is fun and
Speaker 3: I feel like if you've got money for the side
Speaker 3: that you don't mind. Well, who wants to lose money
Speaker 3: like nobody does? Of course not, but you have to.
Speaker 3: We definitely separate that account from our long term retirement
Speaker 3: savings and our emergency savings. So I don't feel like,
Speaker 3: if you know, if we have to weather some ups
Speaker 3: and downs in the market, I don't want to jeopardize
Speaker 3: my entire nest egg doing it. So that's what we have,
Speaker 3: that separate account exactly exactly. I feel like, what else?
Speaker 3: What else can we talk about with game Stop? There's
Speaker 3: so many questions out there, but yeah, that's it. Good luck.
Speaker 3: I guess they didn't talk about Robinhood though. People people
Speaker 3: are dragging Robinhood. They they I don't know if they
Speaker 3: still have, but they they. I didn't realize you could
Speaker 3: do this. It just halted. You can't trade game Stop,
Speaker 3: or you couldn't at least for a period of time,
Speaker 3: couldn't trade game Stop or any of the other stocks
Speaker 3: that the Wall streets.
Speaker 2: You could sell it, but they weren't letting you buy them.
Speaker 3: Oh. I mean, I don't know about all that, but
Speaker 3: I know the founder of this nonprofit in New York
Speaker 3: called robin Hood was super, super pissed because everyone thought
Speaker 3: that he was big, bad Robinhood and vesting happened. He's like, y'all,
Speaker 3: it's not me. Could you read the Twitter bio. It's
Speaker 3: it's not that. It's not the same thing. But yeah,
Speaker 3: everyone seemed to love Robin Hood until this past week.
Speaker 1: No, it's true because the issue, I mean, I suspect
Speaker 1: there's some other big strings behind the scenes that forced
Speaker 1: Robin Hood's hand about not letting people purchase, because remember
Speaker 1: it's in the buying that you pushed up the price.
Speaker 1: So basically they were forcing like if I can't buy,
Speaker 1: I can't push up the price of game Stop, and
Speaker 1: I can't bankrupt the hedge fund or whatever it is
Speaker 1: that Wall Street bets was like aiming to do.
Speaker 2: So it's kind of like, well, that's not fair. They
Speaker 2: can bankrupt us.
Speaker 1: When there was the big buyout two thousand and eight,
Speaker 1: two thousand and nine, you know, we didn't get regular
Speaker 1: people didn't get buyouts. But all the big major banks do.
Speaker 1: How come they get all these buyouts? You know, these
Speaker 1: big billion dollar companies, they get these buyouts, and regular
Speaker 1: everyday people are left to suffer. And so that's what
Speaker 1: people are I'm actually like I have investments with robin Hood,
Speaker 1: and I'm not gonna lie. I'm pulling mine out as well,
Speaker 1: because I was just like, eh, oh.
Speaker 3: Whe are you gonna move? I use ally invest I
Speaker 3: don't know yet. I'm trying to sud and I don't
Speaker 3: like to wait to have my savings they're already, but
Speaker 3: I do. I think I have some like chewy stock
Speaker 3: in robin Hood. I haven't made. I mean whatever, it's
Speaker 3: not really bothering me, but yeah, it is a little shady.
Speaker 3: I did read that like Robinhood had to come up
Speaker 3: with three billion dollars right quick because they didn't have
Speaker 3: enough money on hand to like make people all on
Speaker 3: their trades.
Speaker 2: I don't know.
Speaker 3: This is all very fascinating stuff, but shout out to
Speaker 3: game Stop and uh, you know, anyone who's an early shareholder,
Speaker 3: you are doing very well. More power to you. But
Speaker 3: you kind of like won the lottery and I'm good
Speaker 3: with that. I can make peace with not winning the lottery.
Speaker 1: And now it's time for my favorite segment of the show,
Speaker 1: Questions Questions Exactly, y'all have questions. We might have answers,
Speaker 1: at least, you know, answers to our best of our ability,
Speaker 1: but you are not to take all answers for advice
Speaker 1: for you specifically. This is just me management, just talking. AKA,
Speaker 1: sue your grandma, not us.
Speaker 3: Why would they sue their grandma.
Speaker 1: I just always say that, like you know, when people
Speaker 1: because you know, like Tony, my attorney always says, you know,
Speaker 1: make sure you do a disclaimer that people you know,
Speaker 1: this is just you're not giving specific advice and that
Speaker 1: people should reach out to their own financial expert or
Speaker 1: CFP or CPA whatever, And I'm always like, AKA, basically,
Speaker 1: you know, you don't try tossue me, go see your grandma.
Speaker 3: Please don't, but don't give them any ideas either. You can't.
Speaker 3: It's not possible. Don't see us. Okay, this is funny.
Speaker 3: I think they. I think that you mentioned us during
Speaker 3: your our Instagram life that is lost forever. But someone
Speaker 3: wanted to know. This is Shandon from IG. She says,
Speaker 3: this is not a budget question, but it's something from
Speaker 3: the show. How does Tiffany take apple cider vinegar? And
Speaker 3: why I tried and it nearly burned my insides. Just
Speaker 3: wondering if she has any tips or tricks to do it.
Speaker 3: Acc So yeah.
Speaker 2: So here's the thing.
Speaker 1: I hope you're not taking it like without mixing it
Speaker 1: with anything because.
Speaker 3: You get that I've ever done that before before, because
Speaker 3: it's gonna burn your inside. It does burn.
Speaker 1: So I just honestly, I get a glass of war
Speaker 1: cold water and then I put like about two or
Speaker 1: three tablespoons, like you know, poured into a spoon and
Speaker 1: just put it in the water and I drink it
Speaker 1: O way. It almost takes like not not that great lemonade.
Speaker 1: That's what it tastes like to me. But yeah, you
Speaker 1: you drink it with water, at least a cup of water,
Speaker 1: and so yeah, you.
Speaker 2: Should not be taking it.
Speaker 1: And so the reason why you take it is because
Speaker 1: it helps with Digestion's supposed to help with you know,
Speaker 1: trim that delli fat because it helps with digestion. So
Speaker 1: that's why lots of people take apple site of vinegar.
Speaker 3: Yeah I should try it again because it also, yeah, indigestion,
Speaker 3: and also like for me, it was heartburn, which seems
Speaker 3: when I when I when I drink it straight up
Speaker 3: like a dummy, I was like, this burns a lot.
Speaker 3: How can it possibly be helping me? But yeah, I
Speaker 3: learned later to dilute. It also makes a really good
Speaker 3: hair rinse slash conditioners.
Speaker 2: It does. Yes, I do that sometimes.
Speaker 1: I'm not gonna let's a little stinky, stinky, but if
Speaker 1: you have any build up, Oh my gosh, it's really
Speaker 1: great for build up on your hair.
Speaker 3: I like that, smeuntain weird. I'm like in takombucha too.
Speaker 2: Oh that's stinky.
Speaker 3: Yeah, it's kind I don't like it. Okay, all right,
Speaker 3: thank you Shannon for your question. Let's get into a
Speaker 3: career one. I really feel for this listener. Let me see,
Speaker 3: so let's keep her anonymous. But she says, I'd like
Speaker 3: to wish you both a blessed and happy new year.
Speaker 3: I'm writing you both today because I feel stuck and
Speaker 3: I'd like to make some changes in my life this
Speaker 3: new year. I work for a nonprofit organization, and my
Speaker 3: employer promoted me over three months ago without a pay
Speaker 3: agree zone. When I asked why, I was told that
Speaker 3: when I was originally hired, it was their intention the
Speaker 3: whole time to have my position be a supervisory position.
Speaker 3: I had no idea that was a part of their plan,
Speaker 3: nor did I sign anything agreeing to that. The problem
Speaker 3: here is my workload has increased significantly, and I'm now
Speaker 3: supervising seven people with no other benefits. If this normal,
Speaker 3: I'm at the point of just wanting to quit because
Speaker 3: I feel that I'm being taken advantage of. I'm extremely
Speaker 3: unhappy at work and would like any advice on what
Speaker 3: to do. I'm not in the position to just quit financially,
Speaker 3: but I need a new job, maybe out of the state,
Speaker 3: so I can have more opportunities help.
Speaker 1: Yikes, Well, I'm gonna put this part in demand you take.
Speaker 1: You know, the career stuff is yo jam. That is terrible. Honestly, yeah,
Speaker 1: it is because I'm like, oh, here's more work.
Speaker 2: Oh we were gonna make you Well, you should have
Speaker 2: done it when you hired me, don't. That's not how
Speaker 2: that works.
Speaker 1: I just feel like that's just terrible to give you
Speaker 1: all this extra work and not extra pay.
Speaker 2: So I'll just that's my two cents. But what should
Speaker 2: she corporate speak do?
Speaker 3: I mean, get the f out of there and tell
Speaker 3: them why so they never do that again to someone.
Speaker 3: I know that you say, financially, you can't just up
Speaker 3: and leave, but I would start looking because it's just
Speaker 3: not fair. Seven people's a lot of freaking people. Listen.
Speaker 3: I used to manage like twelve people and I just
Speaker 3: about died, just died until I had someone to split
Speaker 3: them up with. And I think when I left Lending Tree,
Speaker 3: I was managing seven or eight directs, and that still
Speaker 3: you're just spread so so thin. I just feel you
Speaker 3: on sol with so many levels. And what really pisses
Speaker 3: me off, though, is that because you weren't sure what
Speaker 3: you were getting yourself into, you weren't in a position
Speaker 3: to negotiate for what you've truly deserved, which I find
Speaker 3: to be the shadiest thing of all. It's almost like
Speaker 3: they've just stolen money from you. And if they're not
Speaker 3: going to give you any kind of pay raise now,
Speaker 3: I don't understand how they expect you to stick around.
Speaker 3: And to be quite frank, I would say if you're
Speaker 3: you know, listen, of course you want to take the
Speaker 3: high road a lot of the time, especially for in
Speaker 3: the nonprofit world, and you don't mention what kind of nonprofit,
Speaker 3: but you know, let's say you want to save baby
Speaker 3: seals in Antarctica and there's only like four nonprofits who
Speaker 3: do that. You know, you maybe don't want a reputation
Speaker 3: for yourself as being troublesome or whatever, so you don't
Speaker 3: want to like burn bridges. But I also would not
Speaker 3: bust my ass and bend over backwards to do an
Speaker 3: exceptional job because of something of a mistake that they made.
Speaker 3: I would not be killing myself trying to be the
Speaker 3: super duper, you know, boss of seven people supervise them.
Speaker 3: And for those who think supervising is just about checking
Speaker 3: people's time cards if they do that, or approving PTO
Speaker 3: or making sure they're on task, it's if you're really
Speaker 3: if you're truly you know, growing people and developing them,
Speaker 3: which I think you know, true leaders should do. That's
Speaker 3: a lot of time and energy on your part pouring
Speaker 3: into the people who work. And it's also it's not
Speaker 3: just about this company, this nonprofit shortchanging you. They're also
Speaker 3: short changing these seven people, you know, by giving them
Speaker 3: a supervisor without the resources to do what she needs
Speaker 3: to do. And that is completely irresponsible, and I'm just
Speaker 3: I'm really sorry. I'm really sorry. So I guess naughty
Speaker 3: Mandy would say, you know, as soon as you can,
Speaker 3: just get the f out of there, if you want to,
Speaker 3: you know, move somewhere else in the nonprofit world, and
Speaker 3: you are you know you don't want to burn too
Speaker 3: many bridges. I wouldn't give up on this issue. I
Speaker 3: would keep pushing. I would bring it up as often
Speaker 3: as you can and make your bullet point list of
Speaker 3: reasons why you know you deserve this phrase, or at
Speaker 3: the very minimum, ask for specific support, like what can
Speaker 3: what kind of support can you have in coaching seven people?
Speaker 3: Are you even prepared to supervise seven people? Can they
Speaker 3: pay for management training?
Speaker 2: You know?
Speaker 1: How?
Speaker 3: How can they just foist seven direct reports upon you
Speaker 3: and expect you to swim?
Speaker 2: You know?
Speaker 3: It's I know it's a crazy time of year. Not
Speaker 3: time of year, it's just a crazy year in general
Speaker 3: with everything happening, and a lot of companies are scrambling
Speaker 3: to to keep afloat. And I understand that, but this
Speaker 3: to me was really yeah, irresponsible and yeah next level
Speaker 3: just for me as an employee. I don't know how
Speaker 3: you rebuild that trust?
Speaker 1: Yeah, because that's exactly what was broken. It's not just
Speaker 1: they're taking advantage of you that you know they've broken
Speaker 1: trust and they're probably thinking, oh, it's pandemics, last quarantine,
Speaker 1: slash all the stuff, She's not going anywhere.
Speaker 2: But I would prove them wrong.
Speaker 3: Yeah, if it was their plan all along, then why
Speaker 3: did they not tell you? You know. Oh, by the way,
Speaker 3: we totally planned to have you report, you know, have
Speaker 3: seven people report to you, but we waited three months
Speaker 3: to actually do it. That makes no sense, none at all.
Speaker 3: So I completely understand where you're coming from. All right,
Speaker 3: but thank you, thank you for your question. And she's
Speaker 3: in Minnesota. So if you guys know anybody in nonprofits
Speaker 3: in Minnesota and you want to get her a job,
Speaker 3: hook up.
Speaker 2: I love Minnesota.
Speaker 1: Their accent Minnesota. No, yeah, Minnesota. I'm from Minnesota.
Speaker 2: I just love that.
Speaker 3: I don't know what that. Yes, Minnesota. You know my
Speaker 3: people are from the Midwest, so I mean half of
Speaker 3: my people. But anyway, thank you very much for that question.
Speaker 3: Let me see we have another one. All right, So
Speaker 3: for our third and final question, take one that has
Speaker 3: to do with the lovely four to one K. All right,
Speaker 3: this listener from IG wants to remain anonymous, and she says,
Speaker 3: or he says, I have two four to one ks
Speaker 3: from previous companies that I am considering rolling over to
Speaker 3: my current company. Would you recommend doing this during the
Speaker 3: current economy or leaving them where they are. I've checked
Speaker 3: one account and I won't receive any penalties for leaving
Speaker 3: it there, and I'm not sure about the other one.
Speaker 3: I also want to ask you about my company's matching policy.
Speaker 3: Since I work for a startup, they are not able
Speaker 3: to match my four to one K contributions. Any suggestions
Speaker 3: for making sure I make the best of us, like
Speaker 3: should I contribute double what I was going to contribute
Speaker 3: each paycheck to make up for the lack of matching.
Speaker 3: Thank you so much for answering my question. I love
Speaker 3: the podcast, and thanks for all you do. Thank you,
Speaker 3: thank you. Way.
Speaker 2: Here's the thing. You want to be mindful because it's
Speaker 2: so easy.
Speaker 1: It's like bank accounts, to not close an account and
Speaker 1: then not close another, and then five years later you're like, wait,
Speaker 1: six accounts.
Speaker 2: I'm not wait what what? What bank? Wait what you know?
Speaker 1: So rolling over your fall one ks or your you know,
Speaker 1: your retirement accounts into one account, it's just good maintenance
Speaker 1: because you don't know, maybe a year something now you
Speaker 1: might be someplace else, and there's no there's no way
Speaker 1: for you to time the market to say this is
Speaker 1: a good time. Wait, this is a good time. So
Speaker 1: if you're gonna roll it over, you know, into a
Speaker 1: uh an IRA, then I would just roll it over
Speaker 1: into an IRA. And as far as your company not matching,
Speaker 1: that's you know, that's not uncommon for a startup. Honestly,
Speaker 1: I actually would be putting. I would unless you're making
Speaker 1: over like I think it's one hundred and thirty nine thousand.
Speaker 1: I think it's a little bit more now because it's
Speaker 1: two thousand and twenty one. But I actually would divert
Speaker 1: my retirement investing funds toward a wroth IRA. First, I
Speaker 1: like the tax the tax bonus for a wroth better
Speaker 1: than the tax bonus for a traditional IR or four
Speaker 1: O one K. Here's why, because with the wroth, you
Speaker 1: can put your money in. Say you put your you know,
Speaker 1: I think it's like whatever, I think it's six thousand dollars.
Speaker 1: I think it's still six thousand, or's a sixty five
Speaker 1: hundred the max. But you can max out your wroth.
Speaker 1: You put right, put your safe six thousand dollars a year,
Speaker 1: and then by the time you get ready to retire,
Speaker 1: you don't have to because you paid taxes on the
Speaker 1: money that you put in that six thousand dollars that
Speaker 1: you put in is after tax money. So this is
Speaker 1: your You take the six six thousand from your take
Speaker 1: home pay, so you pay taxes on it. You put
Speaker 1: it in your retirement account. It's a wroth at the
Speaker 1: end when you're ready to retire fifty nine and a
Speaker 1: half and the older you know you could take. Not
Speaker 1: only is that the you know, the six dollars you've
Speaker 1: been putting away already have taxes on it, but the
Speaker 1: growth you don't have to pay taxes on the growth,
Speaker 1: which is kind of awesome that you can basically take
Speaker 1: that money tax free. Lated that's the tax benefit. So
Speaker 1: I like to max out my WROTH first if I'm
Speaker 1: not getting a match at a company, and then go
Speaker 1: back to my.
Speaker 2: Four w K.
Speaker 1: After I've maxed out my WROTH, if I have extra money,
Speaker 1: put put money toward my four one four one K.
Speaker 2: So that's usually like my cycle that I like to do.
Speaker 1: First rock, if there's a match, I do my match,
Speaker 1: then my wroth, then back to my four one K
Speaker 1: if there's extra.
Speaker 2: If there's no match, I like to do four wink.
Speaker 1: I like to do roth first, max that out, then
Speaker 1: then my then my four one k oh that makes sense.
Speaker 3: Yeah, I'm as far as rolling it over because I've
Speaker 3: definitely I'm in that position right now, got to roll
Speaker 3: over my stuff. Listen, Like most most brokerages have a
Speaker 3: very you know, laid out process for doing a rollover,
Speaker 3: and it could be pretty seamless. You just want to
Speaker 3: be sure that you do it like a digital transfer.
Speaker 3: I remember when, was it like ten years ago, I
Speaker 3: was leaving a job and I bungled something up and
Speaker 3: ended up having to cash a check like they mailed
Speaker 3: me a check, and then I had to do it quick, quick, quickly.
Speaker 3: I think I had thirty days to do it. I
Speaker 3: was going to say, yep, I got text as if
Speaker 3: it was a contribution like whips. I mean it was
Speaker 3: like two thousand dollars. It wasn't. Baby Still yeah, so uh,
Speaker 3: don't make that mistake. Just you know, call or you know,
Speaker 3: log into your account and I'm sure there'll be a
Speaker 3: tab somewhere for initiating a rollover. And yeah, as far
Speaker 3: as making up for their not being a match, yes,
Speaker 3: I mean if you if you're if you're not gonna
Speaker 3: be able to yes, if if you can contribute more,
Speaker 3: I would never say don't contribute more to your retirement fund.
Speaker 3: And I like the way that Tiffany has sort of
Speaker 3: you know, prioritized ifone, if you're not gonna if they're
Speaker 3: not going to give you a match, there's really no
Speaker 3: benefit to you being in there, you know, that specific
Speaker 3: retirement account with your with your company. And yeah, just
Speaker 3: just pay attention to to what types of investment options
Speaker 3: you have with the with the company that they're we're
Speaker 3: uh that they're helping or having manage your retirement portfolio,
Speaker 3: because you know, you may have more diverse options at
Speaker 3: another brokerage or one of the old ones that you
Speaker 3: you know, had your your four one K stored in,
Speaker 3: So that's something to consider as well when you're weighing
Speaker 3: those options.
Speaker 1: Yeah, and also too, you might at that because sometimes
Speaker 1: smaller startups will have profit share or maybe you have
Speaker 1: some equity, so ask about that, like what other you know,
Speaker 1: what other benefits are there?
Speaker 3: Equity is nice? Mm hmm, it is all right, y'all. Well,
Speaker 3: thank you so much for the questions. Again, if you
Speaker 3: have questions, hit us up at Brannanbision podcast on Instagram,
Speaker 3: or you can email us at Brandmission Podcast at gmail
Speaker 3: dot com, or check out our where's my dot com?
Speaker 2: Oh? Back up, I know it's been I'm out of practice.
Speaker 3: I wait for it now. Or you can go to
Speaker 3: Brandibission podcast dot com and click ask us anything.
Speaker 1: And now it's time to boost to break with the
Speaker 1: BA family.
Speaker 2: Are you gonna booze? Are you gonna break? What you're
Speaker 2: gonna do?
Speaker 1: Mandy see, I could not remember this remember on our
Speaker 1: live I couldn't.
Speaker 3: Even there Nicky mouse Club break, Yeah, yeah, I couldn't remember.
Speaker 3: I was like, darn it, Well it's got levels because
Speaker 3: I was just I saw that just and Timber like
Speaker 3: turn forty, I think, which is crazy. He was on
Speaker 3: the Mickey mouse Club. I used to watch him. Oh yeah,
Speaker 3: it's like all my phases are turning forty these days.
Speaker 3: That's crazy. I digress. I have a couple of boosts
Speaker 3: and I'll do a boosty boost real quick for us
Speaker 3: because it is February, the most fabulous month of the
Speaker 3: year aka Black History Month, and Tiffany and I are
Speaker 3: getting some love actually, and this is really kudos to
Speaker 3: Westwood One, our new podcast network and partners, because they
Speaker 3: have helped us get a shout out on iTunes of course,
Speaker 3: in their Black History Month section but also on Spotify
Speaker 3: and tune in, we are featured and they're curated BHM lists,
Speaker 3: So check us out there and share. And it's always
Speaker 3: nice to get the love and the spotlight, especially on
Speaker 3: a month, you know, when there's just so many beautiful
Speaker 3: and amazing black creators out there and it's great to be, yeah,
Speaker 3: sharing some shine with them.
Speaker 2: Send me that screenshot, girls, I could post it on
Speaker 2: on the on the socials.
Speaker 3: Absolutely absolutely. And then my second boost I was gonna
Speaker 3: do speaking of game Stop. So there's this really really
Speaker 3: cute story. Let me get his name. So this is
Speaker 3: about this boost goes to Jaden Carr of San Antonio, Texas,
Speaker 3: who was ten years old. He made five thousand percent
Speaker 3: on his initial game Stop investment during this whole shenanigans
Speaker 3: that were happening the past week, and I know, I've
Speaker 3: been like kind of screaming and like squirming over all
Speaker 3: this news of people potentially risking so much. But he
Speaker 3: was a long term holder of game Stop stock because
Speaker 3: his mom, a nutritionist, decided to buy him some stock
Speaker 3: in the company to teach him about the power of investing,
Speaker 3: and she actually bought it during Kwanza and gave him
Speaker 3: so she gave him ten shares. At the time, they
Speaker 3: were six dollars a share. And this was back in
Speaker 3: twenty nineteen. So if you remember what I was saying earlier,
Speaker 3: when you hold the stock for at least a year
Speaker 3: and then you sell, your tax hit is a lot
Speaker 3: lot less. So he sold his shares. When he sold them,
Speaker 3: I think the stock was well, I don't know exactly
Speaker 3: what the stock was, but he made three thousand, two
Speaker 3: hundred dollars on those shares, which is crazy. So yeah,
Speaker 3: so shout out to Jaden, Shout out to Jaden, and
Speaker 3: shout out to his mom, Nina for having the foresight to,
Speaker 3: you know, take sixty bucks and instead of buying him
Speaker 3: the game that he wanted, buy him shares in the company,
Speaker 3: which is such a beautiful way for parents to teach
Speaker 3: the power excuse me of wealth building to their kids.
Speaker 3: So that was really cute. That was in the New
Speaker 3: York Times. I'll post a link in the show notes
Speaker 3: loves it.
Speaker 2: Well, I'm gonna do a breaky boostie. I'll do the
Speaker 2: break first. Oh did you see screech from Staved by
Speaker 2: the Bell Dust?
Speaker 3: Did That's?
Speaker 2: Yeah?
Speaker 3: Lung cancer?
Speaker 2: Dang, I know he was forty four years old.
Speaker 3: So it's very sad, you know, hap it is mm hm.
Speaker 2: He had stage four lung cancer.
Speaker 1: If you guys have not ever watched Saved by the Bell,
Speaker 1: it was like just a pivotal like I don't even know,
Speaker 1: like it was huge, like for at least for my
Speaker 1: age range. And his name was Dustin Diamond. He was
Speaker 1: a funny, he was a comedian. And yeah, so he
Speaker 1: passed away today at forty four, So rest in peace
Speaker 1: to him. So that's my obviously, my my break. And
Speaker 1: actually have.
Speaker 2: So two boosts.
Speaker 1: One boost is okay, Stacey Abrams nominated for a Nobel
Speaker 1: Peace Prize and Black Lives Matter movement?
Speaker 3: Yeah, how did it not see this?
Speaker 2: Yeah?
Speaker 1: So I was like, I just saw that Stacy Abrams
Speaker 1: today was nominated for a Nobel Peace Prize getting Gurul
Speaker 1: god so. And so I actually know Opal and Patrice
Speaker 1: and I don't know Alicia who was the three women
Speaker 1: who you know, founded the Black Lives Matter movement. But
Speaker 1: I know Opa and I know Patrise and very well.
Speaker 1: We've traveled together and they're just amazing women. And Alicia,
Speaker 1: I'm sure it's amazing a woman as well. And I
Speaker 1: know it's a movement overall, because what I love about
Speaker 1: them is that if you try to tell them, great
Speaker 1: job with Black Lives Matter, are very clear that it
Speaker 1: is a movement.
Speaker 2: It is not specific individual people. But hello, so.
Speaker 1: A hate group quote unquote hate group for y'all haters
Speaker 1: out there, nominated for a Nobel Peace Prize.
Speaker 2: So peace on that, okay.
Speaker 1: And my final boost is today the book that I
Speaker 1: have been actively working on for more than a year,
Speaker 1: but kind of passively working on the the premise for
Speaker 1: my whole life, Get Good with Money Ten Simple Steps
Speaker 1: two becoming financially whole.
Speaker 2: Pre Orders are open today.
Speaker 1: The door is open if you go to Get Good
Speaker 1: with Money dot Com.
Speaker 3: You can trying to think, what's an air horn? Sound like?
Speaker 3: I forget?
Speaker 1: I don't even know. I think it is, like, so
Speaker 1: it's exciting, excitimental. I'm not gonna lie. Probably I'm gonna
Speaker 1: end off each podcast with Get Good with Money, I
Speaker 1: give Good Money dot Com. But I'm excited because it's
Speaker 1: just I wanted to write something that I needed back when,
Speaker 1: especially when I was really struggling financially, because it was
Speaker 1: scary too and it was like I felt like I
Speaker 1: was alone I was ashamed. I didn't know where to turn,
Speaker 1: and so I wanted to write a book that would
Speaker 1: guide people who were really struggling, guide people who were
Speaker 1: kind of like I'm okay, but I want to move
Speaker 1: to the next level and guide people who were in
Speaker 1: an even better position. So I wanted to write something
Speaker 1: that was really going to just be like this, like
Speaker 1: kind fun guide to your money. I know right now
Speaker 1: everyone is talking about options and shorting and making a
Speaker 1: ton of money in the market, But if y'all know me,
Speaker 1: I'm more so the financial fundamentals because I want you
Speaker 1: to do those other things. It's just that that's not
Speaker 1: what I teach. Because what I'm wanting is for you
Speaker 1: to have fundamentals in a way that you can go
Speaker 1: off and be great in these other kind of like
Speaker 1: more speculative areas, knowing that you have a strong financial foundation.
Speaker 1: And that's why I wrote it, and I'm just really
Speaker 1: proud of it. It's just it's really literally it feels
Speaker 1: like a love letter to my audience, the dream catchers,
Speaker 1: like just because it really came from my heart. And
Speaker 1: so if you are interested in getting your copy, you
Speaker 1: can go to get Good with Money dot com. It's
Speaker 1: available where all books are sold, and yeah, that's it,
Speaker 1: that's it all.
Speaker 3: Congratulations and one is so that's pre ordering now, and
Speaker 3: then the book is is dropping down March thirty.
Speaker 1: So what happens is you for pre order now and
Speaker 1: then they actually mail them out to you like March thirty.
Speaker 1: I think. I think, depending what you get, you'm actually
Speaker 1: might actually get it March thirty first, but just know
Speaker 1: they get mailed out March thirtieth.
Speaker 3: Oo ooh, you know what, I'm gonna add a special
Speaker 3: bonus boost because my husband just texted and we found
Speaker 3: out his mom has been sick with COVID and she's
Speaker 3: been in the hospital for ten days now and she's
Speaker 3: getting out tomorrow. Thank god. Yes that was scary, very scary,
Speaker 3: but she is doing really well. So thank you to
Speaker 3: all the doctors and nurses who I have been harassing
Speaker 3: the past. We can have because because a woman wants communication,
Speaker 3: you know, we like that. So yeah, to the doctors
Speaker 3: and nurses at Columbia Presbyterian and all the doctors and
Speaker 3: nurses across the country who are on the front lines
Speaker 3: of this ongoing war, thank you so much. And we're
Speaker 3: just so relieved because she had a you know, she
Speaker 3: has all kinds of uh they call them co morbidities,
Speaker 3: which I kind of hate that word, but basically like
Speaker 3: pre existing conditions that made this pretty dicey. So luckily
Speaker 3: she didn't she wasn't too too bad. But she was
Speaker 3: in the hospital for ten days and she's so so
Speaker 3: excited to go home, and we're so excited that she recovered.
Speaker 3: So yeah, this is really I'm gonna go up and
Speaker 3: give them a big old hug.
Speaker 1: Yes, because that's I mean, there's nothing like your parent.
Speaker 1: It's just just not you know. So yes, we are
Speaker 1: grateful for that.
Speaker 3: Yeah, we need Abuela back.
Speaker 2: Yes, I'm walita'.
Speaker 3: Weanita all right, Well be well, and congrats Tiffany. So
Speaker 3: so excited for you, big.
Speaker 2: Gal, Big Things.
Speaker 1: I can't wait for you can make your full announcement
Speaker 1: because big Thing's over there, Big.
Speaker 3: Things and twenty twenty one. Yes, so, and thank you
Speaker 3: again to Westwood One. We're so happy to be part
Speaker 3: of the Westwood one family.
Speaker 2: Yes we are