1 00:00:00,200 --> 00:00:03,120 Speaker 1: What point do you think it makes sense for an 2 00:00:03,160 --> 00:00:05,480 Speaker 1: everyday investor or someone who's working for a while and 3 00:00:05,600 --> 00:00:09,320 Speaker 1: has a lot of assets for the first time to 4 00:00:09,440 --> 00:00:11,920 Speaker 1: look at getting a more seasoned pro to help, even 5 00:00:11,920 --> 00:00:13,320 Speaker 1: if it costs that a little bit of extra. 6 00:00:13,600 --> 00:00:16,639 Speaker 2: It's so important to me to have someone who is 7 00:00:16,960 --> 00:00:20,079 Speaker 2: our accountability partner. I actually don't think there's a time 8 00:00:20,120 --> 00:00:22,920 Speaker 2: where it's too early necessarily to start talking to someone, 9 00:00:23,000 --> 00:00:26,760 Speaker 2: especially because the way that financial advisors work today, and 10 00:00:26,920 --> 00:00:30,639 Speaker 2: even doing something with an online a hybrid advisor or 11 00:00:30,640 --> 00:00:33,360 Speaker 2: something like that, you can do it on a fee 12 00:00:33,400 --> 00:00:36,120 Speaker 2: only based You can do it based on one task 13 00:00:36,200 --> 00:00:39,440 Speaker 2: you want to have help accomplish. You don't have to 14 00:00:39,479 --> 00:00:42,440 Speaker 2: have someone that has paid a percentage of your assets 15 00:00:42,479 --> 00:00:44,159 Speaker 2: necessarily to get advice. 16 00:00:49,080 --> 00:00:53,239 Speaker 1: Hey, hey, va fan, welcome to the VAQA where we 17 00:00:53,320 --> 00:00:56,240 Speaker 1: take your questions and we give you some answers. We 18 00:00:56,280 --> 00:00:59,080 Speaker 1: give you some answers with a side of salt. Because 19 00:00:59,120 --> 00:01:01,880 Speaker 1: I'm not your financial advisor, I'm not your financial planner. 20 00:01:01,960 --> 00:01:06,680 Speaker 1: My beautiful, illustrious guest on today's BAQA is your personal 21 00:01:06,720 --> 00:01:10,679 Speaker 1: financial advisor. Neither nor neither whatever. You know what I'm 22 00:01:10,680 --> 00:01:14,000 Speaker 1: trying to say, don't sue us, please and thank you, 23 00:01:14,520 --> 00:01:17,880 Speaker 1: But we are so excited to welcome Sharon Epperson to 24 00:01:18,200 --> 00:01:22,720 Speaker 1: the Brown Ambition Podcast today. I'm so happy to be here. 25 00:01:23,000 --> 00:01:28,039 Speaker 1: That's awesome. Welcome Sharon. Sharon's an og ba fam ba guest. 26 00:01:28,120 --> 00:01:30,240 Speaker 1: I think you your first episode. You came on the 27 00:01:30,240 --> 00:01:34,040 Speaker 1: show maybe in like twenty seventeen, twenty eighteen, and you're 28 00:01:34,080 --> 00:01:36,039 Speaker 1: just an icon. But for those who do not know, 29 00:01:36,120 --> 00:01:40,240 Speaker 1: Sharon is the senior personal finance correspondent for CNBC, so 30 00:01:40,319 --> 00:01:44,000 Speaker 1: you probably have seen her on your TV screens. You've 31 00:01:44,040 --> 00:01:48,520 Speaker 1: probably read her articles covering the latest financial news in 32 00:01:48,560 --> 00:01:51,360 Speaker 1: the US, and I am lucky enough to call her 33 00:01:51,400 --> 00:01:54,880 Speaker 1: a friend. Yes, thanks for being here, Sharon. Great to 34 00:01:54,880 --> 00:01:56,920 Speaker 1: be here. Great to be here. So what's it been 35 00:01:57,000 --> 00:02:00,040 Speaker 1: like being a personal finance correspondent at a time like 36 00:02:00,120 --> 00:02:01,200 Speaker 1: this lately? 37 00:02:01,360 --> 00:02:04,960 Speaker 2: Now, I really just stay in my lane. My lane 38 00:02:05,000 --> 00:02:08,960 Speaker 2: is to help people manage, grow, and protect their money 39 00:02:09,160 --> 00:02:11,880 Speaker 2: no matter what's happening in the world around us. And 40 00:02:11,919 --> 00:02:16,760 Speaker 2: there's so much happening trying to detract from us staying 41 00:02:16,800 --> 00:02:20,520 Speaker 2: focused on our own financial goals. So what I see 42 00:02:20,680 --> 00:02:23,040 Speaker 2: is my role right now is to help people just 43 00:02:23,200 --> 00:02:27,080 Speaker 2: stay focused on what they need to achieve for the 44 00:02:27,200 --> 00:02:30,040 Speaker 2: financial wellbeing for themselves and for their families. 45 00:02:30,240 --> 00:02:33,280 Speaker 1: That's a real huge challenge. I mean, everything seems to 46 00:02:33,280 --> 00:02:36,880 Speaker 1: be pulling us in a different direction, and everything seems unprecedented, 47 00:02:37,000 --> 00:02:40,959 Speaker 1: and everything seems like stop what you're doing and look 48 00:02:41,400 --> 00:02:44,720 Speaker 1: and pay attention. And in a world where we have 49 00:02:44,840 --> 00:02:47,639 Speaker 1: such if can feel like we have so little control. 50 00:02:48,560 --> 00:02:50,560 Speaker 1: Sometimes you'd be thinking like, maybe I can do a 51 00:02:50,560 --> 00:02:53,000 Speaker 1: little something with my investments. Maybe I can do a 52 00:02:53,000 --> 00:02:55,320 Speaker 1: little something with you know, my money. Should I go 53 00:02:55,320 --> 00:02:57,680 Speaker 1: about and buy a vending machine? Should I get BTM? 54 00:02:58,440 --> 00:02:58,560 Speaker 3: Like? 55 00:02:59,320 --> 00:03:02,040 Speaker 1: Should I you investing in crypto? Is crypto done? I 56 00:03:02,080 --> 00:03:05,119 Speaker 1: don't know? And then you get these curveballs that get 57 00:03:05,160 --> 00:03:06,800 Speaker 1: thrown at us. Which is why I wanted to have 58 00:03:06,840 --> 00:03:09,760 Speaker 1: you on the show today because it was recently announced. 59 00:03:10,000 --> 00:03:13,040 Speaker 1: Now this is not official, right, this is just the 60 00:03:13,120 --> 00:03:16,960 Speaker 1: president give order from the president. Yes, an executive order. 61 00:03:17,280 --> 00:03:19,840 Speaker 1: Oh that's my first question. So an executive order to 62 00:03:20,040 --> 00:03:23,280 Speaker 1: allow private equity firms to put their little grubby fingers 63 00:03:23,440 --> 00:03:27,120 Speaker 1: in our four oh one k's. Now that's not exactly 64 00:03:27,160 --> 00:03:29,920 Speaker 1: the language that the White House has used, but that 65 00:03:30,080 --> 00:03:33,280 Speaker 1: is the cartoon figure that came into my eyes is 66 00:03:33,360 --> 00:03:38,720 Speaker 1: like big wealth management firms getting a piece of America's 67 00:03:38,760 --> 00:03:42,720 Speaker 1: nest egg, America's four one K, and it's a nest egg. 68 00:03:42,880 --> 00:03:45,800 Speaker 2: It's a twelve point two trillion dollar nest eg for 69 00:03:46,040 --> 00:03:48,520 Speaker 2: defined contribution plans for your four oh one K, your 70 00:03:48,560 --> 00:03:51,200 Speaker 2: four h three B those plans. So there's a lot 71 00:03:51,240 --> 00:03:55,320 Speaker 2: of money at stake, and yes, firms are very interested 72 00:03:55,360 --> 00:03:56,440 Speaker 2: in getting some of that money. 73 00:03:56,600 --> 00:03:59,080 Speaker 1: So the Executive Order, what exactly does it say. 74 00:04:00,000 --> 00:04:04,320 Speaker 2: Actually says that the Department of Labor that oversees define 75 00:04:04,360 --> 00:04:08,520 Speaker 2: contribution workplace retirement plans needs to have a better look 76 00:04:08,560 --> 00:04:13,120 Speaker 2: in guidance about allowing people to have alternative investments in 77 00:04:13,240 --> 00:04:16,560 Speaker 2: their four one K plans, in their workplace plans. So 78 00:04:16,640 --> 00:04:22,640 Speaker 2: that is allowing for private equity, private credit, real estate, crypto, 79 00:04:23,000 --> 00:04:25,760 Speaker 2: all of those things to be considered to be included 80 00:04:25,920 --> 00:04:29,200 Speaker 2: in a four to one K plan. Now, the onus 81 00:04:29,279 --> 00:04:32,440 Speaker 2: is going to be on those plan providers to put 82 00:04:32,480 --> 00:04:36,800 Speaker 2: those products in their plans and then for plan participants, 83 00:04:36,800 --> 00:04:39,000 Speaker 2: for you and me to figure out do we want 84 00:04:39,040 --> 00:04:41,160 Speaker 2: to have them? Do we want to add those to 85 00:04:41,200 --> 00:04:42,039 Speaker 2: our portfolio? 86 00:04:42,360 --> 00:04:45,000 Speaker 1: Yeah? And this is these are the types of investment 87 00:04:45,080 --> 00:04:48,440 Speaker 1: vehicles or investment products that like the average Joe has 88 00:04:48,560 --> 00:04:50,760 Speaker 1: never been able to invest in You need to be 89 00:04:51,279 --> 00:04:52,520 Speaker 1: what you need to be what do you call it? 90 00:04:52,520 --> 00:04:55,320 Speaker 2: Where you get an accredited investor, And so you have 91 00:04:55,400 --> 00:04:57,839 Speaker 2: to have a significant amount of assets to be an 92 00:04:57,839 --> 00:04:59,920 Speaker 2: accredited investor, and so a lot of people don't have 93 00:05:00,400 --> 00:05:05,320 Speaker 2: access to private equity investments. And when we're talking about 94 00:05:05,360 --> 00:05:08,880 Speaker 2: these private assets, we're basically talking about private companies, not 95 00:05:09,560 --> 00:05:13,599 Speaker 2: companies that are traded on an exchange. Publicly traded companies 96 00:05:14,279 --> 00:05:18,159 Speaker 2: the big stores, big retailers, the big companies, and tech 97 00:05:18,200 --> 00:05:21,279 Speaker 2: companies that you think about. These are more smaller companies 98 00:05:21,320 --> 00:05:24,240 Speaker 2: and they're not necessarily mom and pop shops. Ere they're 99 00:05:24,240 --> 00:05:28,240 Speaker 2: the majority of businesses in this country that are privately owned. 100 00:05:28,560 --> 00:05:31,520 Speaker 1: Yeah, I mean, and privately owned is one thing, but 101 00:05:31,560 --> 00:05:35,320 Speaker 1: that means that, unlike public companies, we do not have 102 00:05:35,520 --> 00:05:39,000 Speaker 1: a line of sight into their management of the company 103 00:05:39,000 --> 00:05:40,960 Speaker 1: itself other than what we may read in the press 104 00:05:41,040 --> 00:05:43,240 Speaker 1: or if you're lucky enough to get some insider info 105 00:05:43,320 --> 00:05:46,719 Speaker 1: from someone who works there. You know, publicly traded companies 106 00:05:46,760 --> 00:05:50,400 Speaker 1: they have quarterly filings with regulatory bodies like the SEC. 107 00:05:50,560 --> 00:05:54,240 Speaker 1: They have to answer to shareholders. So there is a 108 00:05:54,240 --> 00:05:56,680 Speaker 1: lot more that we can see. So these private companies 109 00:05:56,720 --> 00:06:00,080 Speaker 1: there's a bit more of like a curtain over them. Okay, 110 00:05:59,760 --> 00:06:03,039 Speaker 1: so we've covered what the executive order says. It sounds 111 00:06:03,200 --> 00:06:06,599 Speaker 1: like this doesn't mean Okay, I can go to Fidelity 112 00:06:06,720 --> 00:06:09,159 Speaker 1: through my four to one K right now and ask 113 00:06:09,200 --> 00:06:12,080 Speaker 1: them to put me in that there private equity fund 114 00:06:12,279 --> 00:06:14,119 Speaker 1: right now, exactly right now. 115 00:06:14,680 --> 00:06:18,360 Speaker 2: There are some plan administrators like in Power that are 116 00:06:18,720 --> 00:06:22,279 Speaker 2: encouraging people or that are offering people the opportunity to 117 00:06:22,400 --> 00:06:25,320 Speaker 2: have private assets in. Therefore, when K plans, but when 118 00:06:25,360 --> 00:06:27,719 Speaker 2: I say people, I guess I should be saying employers 119 00:06:28,000 --> 00:06:30,919 Speaker 2: to include that, and then the decision will have to 120 00:06:30,920 --> 00:06:33,600 Speaker 2: come from participants about whether they have to do it. 121 00:06:33,680 --> 00:06:35,640 Speaker 2: I think there has been in some of the financial 122 00:06:35,680 --> 00:06:37,960 Speaker 2: advisors that I've been talking to say that some clients 123 00:06:38,000 --> 00:06:39,840 Speaker 2: are calling them saying, okay, do I have to put 124 00:06:39,839 --> 00:06:42,159 Speaker 2: private assets in right now? Which one should I choose? 125 00:06:42,400 --> 00:06:45,800 Speaker 2: They're not even available right now for most people right 126 00:06:45,920 --> 00:06:48,880 Speaker 2: so this is an opportunity that I see. 127 00:06:48,920 --> 00:06:49,200 Speaker 1: Again. 128 00:06:49,800 --> 00:06:52,560 Speaker 2: My whole thing is stay in your lane, whatever that is, 129 00:06:52,720 --> 00:06:55,279 Speaker 2: or I love yoga, so stay on your mat. Don't 130 00:06:55,320 --> 00:06:57,280 Speaker 2: worry about what other people are doing or what other 131 00:06:57,320 --> 00:06:59,840 Speaker 2: things are being offered at this moment, if you don't know, 132 00:07:00,560 --> 00:07:02,440 Speaker 2: what do you have on your mat? So a lot 133 00:07:02,520 --> 00:07:04,400 Speaker 2: of people have no idea what's in their four one 134 00:07:04,480 --> 00:07:06,919 Speaker 2: K right now. They don't know if they're invested in 135 00:07:06,920 --> 00:07:10,480 Speaker 2: a target date fund by default or whether they've chosen 136 00:07:10,560 --> 00:07:15,440 Speaker 2: maybe a actively managed large cap fund or an five 137 00:07:15,520 --> 00:07:19,040 Speaker 2: hundred ETF that's in there? What's in there? What are 138 00:07:19,040 --> 00:07:21,600 Speaker 2: you investing in right now? What could you be investing 139 00:07:21,640 --> 00:07:24,560 Speaker 2: in right now? Are you even investing the amount of 140 00:07:24,600 --> 00:07:28,040 Speaker 2: money that you should be to make sure that you're 141 00:07:28,200 --> 00:07:29,840 Speaker 2: going to be able to reach your goal? So you're 142 00:07:29,840 --> 00:07:32,480 Speaker 2: putting in fifteen to twenty percent of your gross pay, 143 00:07:33,280 --> 00:07:36,840 Speaker 2: or you're putting in enough to get the company's matching contribution. 144 00:07:37,040 --> 00:07:41,160 Speaker 1: People don't about that. I know there used to be 145 00:07:41,200 --> 00:07:45,320 Speaker 1: a cute ten back in the day. No, but for real, though, 146 00:07:45,360 --> 00:07:48,840 Speaker 1: fifteen to twenty percent, y'all is rough out here. It's rough. 147 00:07:48,960 --> 00:07:49,520 Speaker 1: It's rough. 148 00:07:49,600 --> 00:07:51,520 Speaker 2: I mean, you know, I think it's the discipline of 149 00:07:52,320 --> 00:07:54,440 Speaker 2: saving that. And it may not be all in your 150 00:07:54,440 --> 00:07:55,880 Speaker 2: four to one K. Maybe some of it is in 151 00:07:55,920 --> 00:07:57,520 Speaker 2: an IRA that you have, Maybe it's some of it 152 00:07:57,560 --> 00:07:59,560 Speaker 2: is in a brokerage account that you have, but are 153 00:07:59,560 --> 00:08:03,120 Speaker 2: you putting enough money away for the long term? Are 154 00:08:03,120 --> 00:08:05,920 Speaker 2: you putting enough money away for the short term? Because 155 00:08:05,960 --> 00:08:08,240 Speaker 2: we know we're just talking about all these things, curveballs, 156 00:08:08,240 --> 00:08:11,880 Speaker 2: things happening, people losing jobs, people changing jobs, people, things 157 00:08:11,920 --> 00:08:15,200 Speaker 2: happening that we never expected. So I think this is 158 00:08:15,800 --> 00:08:19,600 Speaker 2: what this executive order has done. And there's so much 159 00:08:19,640 --> 00:08:22,800 Speaker 2: talk I get in like ten twenty emails a day 160 00:08:23,040 --> 00:08:26,679 Speaker 2: from people asking about or giving their opinion about private 161 00:08:26,720 --> 00:08:30,280 Speaker 2: assets in your four one K plan. But I just 162 00:08:30,360 --> 00:08:32,920 Speaker 2: have to say, take a step back and just think 163 00:08:32,960 --> 00:08:35,000 Speaker 2: about where you are right now and where you want 164 00:08:35,000 --> 00:08:38,360 Speaker 2: to be, and will private assets, will crypto? Will real estate? 165 00:08:38,720 --> 00:08:41,120 Speaker 2: Will the S and P five hundred fun that you're 166 00:08:41,160 --> 00:08:44,200 Speaker 2: in or large cap or tech stocks get you there? 167 00:08:46,040 --> 00:08:48,720 Speaker 3: Hey, bafam, we're going to take a quick break, pay 168 00:08:48,760 --> 00:08:52,520 Speaker 3: some bills, and we'll be right back. All right, bafam, 169 00:08:52,520 --> 00:08:53,040 Speaker 3: We're back. 170 00:08:53,240 --> 00:08:56,040 Speaker 1: I have to give baby Mandy so much credit because 171 00:08:56,679 --> 00:08:58,920 Speaker 1: my cute little ten percent that I was putting away 172 00:08:58,920 --> 00:09:02,000 Speaker 1: at like twenty four years old into a basic target 173 00:09:02,080 --> 00:09:04,560 Speaker 1: day fund. What a privilege I had. Well, I mean, 174 00:09:04,600 --> 00:09:06,559 Speaker 1: I think a lot of people you may grow up 175 00:09:06,640 --> 00:09:08,680 Speaker 1: or like someone you're lucky enough to have someone teach 176 00:09:08,720 --> 00:09:10,560 Speaker 1: you what that even is or how to open your 177 00:09:10,559 --> 00:09:13,560 Speaker 1: first four one K. I was lucky enough to trick 178 00:09:13,800 --> 00:09:17,200 Speaker 1: business Insider into hiring me and becoming a personal finance writer, 179 00:09:17,320 --> 00:09:19,280 Speaker 1: because then I got to do what you get to 180 00:09:19,280 --> 00:09:21,400 Speaker 1: do every day, which is like interview financial planners and 181 00:09:21,400 --> 00:09:24,480 Speaker 1: experts and learn about that. And I just remember them 182 00:09:24,520 --> 00:09:27,000 Speaker 1: telling me time after time as I was writing my stories, 183 00:09:27,280 --> 00:09:28,920 Speaker 1: the number one tip we have for you is to 184 00:09:28,960 --> 00:09:31,520 Speaker 1: start now, don't wait to be an expert. And I 185 00:09:31,559 --> 00:09:35,800 Speaker 1: took that advice. Now we cut to more than ten years. 186 00:09:35,800 --> 00:09:37,880 Speaker 1: More than ten years later, I'm a little bit more 187 00:09:37,920 --> 00:09:40,559 Speaker 1: seasoned now. And it's really funny that you mentioned a 188 00:09:40,600 --> 00:09:42,480 Speaker 1: lot of people don't know within their four one K. 189 00:09:43,400 --> 00:09:45,880 Speaker 1: I recently had a wealth like the head of wealth. 190 00:09:46,520 --> 00:09:49,400 Speaker 1: Do you know Rachel Odin or sorry, recall Odin from HSBC. 191 00:09:49,640 --> 00:09:52,000 Speaker 1: Sure she has some very fancy titles. She's a big 192 00:09:52,000 --> 00:09:55,280 Speaker 1: boss at HSBC. She was on the show and she 193 00:09:55,360 --> 00:09:57,240 Speaker 1: was saying what you were saying, and I was like, well, 194 00:09:57,520 --> 00:09:59,440 Speaker 1: I know what I have, and so I logged into 195 00:09:59,480 --> 00:10:02,440 Speaker 1: my van Guard account. I did not realize I was 196 00:10:02,480 --> 00:10:06,400 Speaker 1: still one hundred percent in stocks. Everything I have for 197 00:10:06,920 --> 00:10:09,080 Speaker 1: everything I've been investing. Now I've done very well. 198 00:10:09,320 --> 00:10:09,679 Speaker 3: Yay me. 199 00:10:10,559 --> 00:10:13,160 Speaker 1: But now I have kids. Now I'm like, you know, 200 00:10:13,280 --> 00:10:16,560 Speaker 1: so many years older, and I was like, oh, I 201 00:10:16,600 --> 00:10:18,880 Speaker 1: really should have checked on this, because it is time 202 00:10:18,920 --> 00:10:23,079 Speaker 1: for me, I believe to you know, diversify a little bit, 203 00:10:23,520 --> 00:10:26,800 Speaker 1: not quite as risk as risk tolerant as I was, 204 00:10:27,360 --> 00:10:30,000 Speaker 1: you know, in my mid twenties. So what would you say. 205 00:10:30,040 --> 00:10:31,760 Speaker 1: Did you have a moment in your career as well 206 00:10:31,760 --> 00:10:33,360 Speaker 1: where you kind of like woke up and you're like, 207 00:10:33,400 --> 00:10:35,840 Speaker 1: oh crap, I'm an adult. I'm not so young anymore. 208 00:10:35,840 --> 00:10:38,000 Speaker 1: I've got to make some shifts. And what do you 209 00:10:38,040 --> 00:10:38,800 Speaker 1: do in that case? 210 00:10:38,920 --> 00:10:41,720 Speaker 2: Personally, Well, I'm smiling because it's so funny. I mean 211 00:10:41,800 --> 00:10:45,479 Speaker 2: the same similar situation. My first job at Time Magazine. 212 00:10:45,520 --> 00:10:49,400 Speaker 2: It was actually going to my colleaguess offices and watching 213 00:10:49,520 --> 00:10:53,160 Speaker 2: them watch CNBC. And I was not familiar with CNBC. 214 00:10:53,240 --> 00:10:54,480 Speaker 1: I'm like, what is this thing? 215 00:10:54,880 --> 00:10:56,800 Speaker 2: All these numbers at the bottom of the screen and 216 00:10:56,840 --> 00:10:58,880 Speaker 2: the ticker and what does that mean in the stocks 217 00:10:58,880 --> 00:11:00,760 Speaker 2: and all that? And they were like, well, just look 218 00:11:00,800 --> 00:11:03,040 Speaker 2: for this one the time. Want to stop and see 219 00:11:03,080 --> 00:11:05,240 Speaker 2: how that's doing, and that'll let you know how our 220 00:11:05,280 --> 00:11:07,679 Speaker 2: company's doing. And make sure you're doing your four one K. 221 00:11:08,000 --> 00:11:10,360 Speaker 2: So it was someone in the New York Bureau of 222 00:11:10,360 --> 00:11:13,920 Speaker 2: Time magazine that encouraged me. Not someone in HR, not 223 00:11:14,280 --> 00:11:17,240 Speaker 2: you know, someone in my family, not even a friend, 224 00:11:17,440 --> 00:11:19,160 Speaker 2: you know. It was a colleague who was like, you know, 225 00:11:19,240 --> 00:11:20,920 Speaker 2: this is something that you need to do. You have 226 00:11:21,040 --> 00:11:23,880 Speaker 2: access to it, now, get in and just start putting 227 00:11:23,920 --> 00:11:27,200 Speaker 2: money away in this. And I did, and starting early 228 00:11:27,280 --> 00:11:30,000 Speaker 2: in that discipline of like not spending everything in my 229 00:11:30,120 --> 00:11:33,640 Speaker 2: check and living in Manhattan and all that, that was important. 230 00:11:33,840 --> 00:11:36,360 Speaker 2: That was really important discipline for me to start early. 231 00:11:37,440 --> 00:11:39,880 Speaker 2: What was interesting is when I left Time and went 232 00:11:39,920 --> 00:11:43,719 Speaker 2: to my next job, I just figure, FIDELI had my 233 00:11:44,559 --> 00:11:46,200 Speaker 2: you know, time for a one k. I was going 234 00:11:46,240 --> 00:11:49,160 Speaker 2: to another company that had a fidelity for a one K, 235 00:11:49,240 --> 00:11:51,720 Speaker 2: and I would just roll it over. I didn't realize 236 00:11:51,760 --> 00:11:55,160 Speaker 2: when you roll over, you roll over to cash. So 237 00:11:55,400 --> 00:11:57,680 Speaker 2: for like a year, I think I was just in 238 00:11:57,760 --> 00:12:01,800 Speaker 2: cash in that first reason, I didn't know. I didn't know. 239 00:12:01,840 --> 00:12:03,199 Speaker 2: I just thought that it would roll over to the 240 00:12:03,240 --> 00:12:05,720 Speaker 2: same investments I'd had before because it was the same 241 00:12:06,480 --> 00:12:09,400 Speaker 2: financial services firm that was running the four O one K. 242 00:12:09,640 --> 00:12:13,120 Speaker 2: So again, if you're changing companies and we're doing that 243 00:12:13,200 --> 00:12:16,680 Speaker 2: a lot these days. Make sure that you understand where 244 00:12:16,720 --> 00:12:18,600 Speaker 2: that money's going. If you're rolling it over to the 245 00:12:18,679 --> 00:12:20,719 Speaker 2: four oh one k of the next company, or you're 246 00:12:20,760 --> 00:12:23,040 Speaker 2: rolling it over to an IRA, you definitely don't want 247 00:12:23,040 --> 00:12:24,160 Speaker 2: to take that money out, you know, want to be 248 00:12:24,240 --> 00:12:26,480 Speaker 2: hit with the penalty and taxes and all that. So, 249 00:12:27,360 --> 00:12:30,400 Speaker 2: but understand that when you roll over a four to 250 00:12:30,400 --> 00:12:32,880 Speaker 2: one K, it often rolls over right to cash. 251 00:12:33,200 --> 00:12:36,640 Speaker 1: I had such bad luck the one time in my career, 252 00:12:36,760 --> 00:12:39,599 Speaker 1: maybe twice, but the one time I had a substantial 253 00:12:39,600 --> 00:12:41,560 Speaker 1: amount of money, of course, when I had like three 254 00:12:41,600 --> 00:12:45,200 Speaker 1: thousand dollars to transfer between Business Insider and Yahoo Finance 255 00:12:45,240 --> 00:12:48,600 Speaker 1: and no problem at all, roll it over, reinvest it amazing. 256 00:12:48,800 --> 00:12:51,120 Speaker 1: But then ten years after that, when I was going 257 00:12:51,120 --> 00:12:53,280 Speaker 1: between Lending Tree to working at a big bank and 258 00:12:53,360 --> 00:12:55,600 Speaker 1: this is an online only bank that I will not 259 00:12:55,720 --> 00:12:58,840 Speaker 1: name because just read my book one day, Brian Ambition 260 00:12:59,040 --> 00:13:01,280 Speaker 1: coming to a bookstore near you. But anyway, when I 261 00:13:01,320 --> 00:13:03,560 Speaker 1: was going to this new bank, it was right. Do 262 00:13:03,559 --> 00:13:05,360 Speaker 1: you remember that game Stop? Of course you do the 263 00:13:05,360 --> 00:13:07,960 Speaker 1: game Stop craze. Yes, it was like the winter of 264 00:13:07,960 --> 00:13:11,600 Speaker 1: twenty twenty two, and it was nuts and I was 265 00:13:11,640 --> 00:13:13,439 Speaker 1: trying to try. I was trying to do a rollover 266 00:13:13,480 --> 00:13:17,480 Speaker 1: to an online only bank, and then they were struggling. 267 00:13:17,920 --> 00:13:21,240 Speaker 1: They were getting inundated by like calls from their investors, 268 00:13:21,800 --> 00:13:24,760 Speaker 1: and somehow my little four one k not my little 269 00:13:24,760 --> 00:13:27,280 Speaker 1: but my four when k rollover got lost in the sauce. 270 00:13:27,320 --> 00:13:30,640 Speaker 1: So it was supposed to be an electronic transfer, so 271 00:13:30,679 --> 00:13:33,200 Speaker 1: the money was just I was so terrified. I was like, 272 00:13:33,200 --> 00:13:35,400 Speaker 1: am I going is the money going to disappear? But 273 00:13:35,480 --> 00:13:39,280 Speaker 1: it was like in this weird purgatory, freak accident freak situation, 274 00:13:39,520 --> 00:13:41,920 Speaker 1: but I'll never forget it, and I'm like, oh gosh, 275 00:13:41,960 --> 00:13:44,040 Speaker 1: maybe now. I mean, luckily I haven't had to do 276 00:13:44,080 --> 00:13:46,680 Speaker 1: that again. But another word of caution. I think in 277 00:13:46,720 --> 00:13:49,280 Speaker 1: that case, my big lesson was sometimes it's okay to 278 00:13:49,400 --> 00:13:52,040 Speaker 1: just do the snail mail version where they have to. 279 00:13:52,280 --> 00:13:54,240 Speaker 1: Sometimes I'll mail you a check and then you mail 280 00:13:54,280 --> 00:13:56,680 Speaker 1: that check onto your bank. Like I was a little 281 00:13:56,840 --> 00:14:00,520 Speaker 1: very trusting of the internet and it bit me in 282 00:14:00,559 --> 00:14:04,200 Speaker 1: the butt. But moral of the story, look at your stuff, 283 00:14:04,679 --> 00:14:08,560 Speaker 1: talk about diversifying. One thing that I've also tried to 284 00:14:08,559 --> 00:14:12,160 Speaker 1: take to heart is to maybe not do so much 285 00:14:12,160 --> 00:14:15,920 Speaker 1: to the DIY approach anymore, and maybe actually for the 286 00:14:15,960 --> 00:14:20,760 Speaker 1: first time considering getting an investment advisor, which I had avoided, 287 00:14:20,800 --> 00:14:23,400 Speaker 1: you know, because they it costs a little bit money. 288 00:14:23,440 --> 00:14:25,480 Speaker 1: They may take a little bit off of your investments. 289 00:14:26,480 --> 00:14:29,080 Speaker 1: At what point do you think it makes sense for 290 00:14:29,560 --> 00:14:31,920 Speaker 1: an everyday investor, or someone who's working for a while 291 00:14:31,960 --> 00:14:35,480 Speaker 1: and has a lot of assets for the first time 292 00:14:35,800 --> 00:14:38,200 Speaker 1: to look at getting a more seasoned pro to help, 293 00:14:38,280 --> 00:14:39,880 Speaker 1: even if it costs that little bit of extra. 294 00:14:40,120 --> 00:14:43,520 Speaker 2: When I got an advisor, I didn't have I was married, 295 00:14:43,880 --> 00:14:48,000 Speaker 2: but my husband, I didn't have kids yet, and it 296 00:14:48,040 --> 00:14:51,520 Speaker 2: was right before nine to eleven happened, and so it 297 00:14:51,560 --> 00:14:54,840 Speaker 2: was around two thousand and so I was, you know, 298 00:14:54,920 --> 00:14:56,880 Speaker 2: I was in my career and I was doing well. 299 00:14:56,920 --> 00:14:59,120 Speaker 2: We were both you know, trying to do well, but 300 00:14:59,160 --> 00:15:01,320 Speaker 2: we didn't have a lot the money. But I wanted to. 301 00:15:02,240 --> 00:15:03,800 Speaker 2: I wanted to be able to make sure that I 302 00:15:03,840 --> 00:15:05,400 Speaker 2: was making the most of what I got. I knew 303 00:15:05,400 --> 00:15:08,280 Speaker 2: that working for Time magazine, my husband and I were 304 00:15:08,280 --> 00:15:12,040 Speaker 2: both there at that moment, was offering a nice four 305 00:15:12,080 --> 00:15:14,520 Speaker 2: oh one K plan, and that we were, you know, 306 00:15:14,680 --> 00:15:16,680 Speaker 2: we were thinking about buying a home and all of 307 00:15:16,720 --> 00:15:19,040 Speaker 2: these different things that we were planning to do and 308 00:15:19,280 --> 00:15:22,240 Speaker 2: I wanted someone to help us think about all of 309 00:15:22,280 --> 00:15:24,600 Speaker 2: it at the same time, not doing it all at 310 00:15:24,600 --> 00:15:26,160 Speaker 2: the same time, but how to come up with a 311 00:15:26,200 --> 00:15:29,560 Speaker 2: plan for what we wanted to do first and make 312 00:15:29,600 --> 00:15:31,960 Speaker 2: it all happen. And so I've been working with that 313 00:15:32,000 --> 00:15:35,400 Speaker 2: same advisor now for over twenty five years and it's 314 00:15:35,560 --> 00:15:40,320 Speaker 2: really it's so important to me to have someone who 315 00:15:40,440 --> 00:15:44,040 Speaker 2: is our accountability partner, who is you know, I'm covering 316 00:15:44,080 --> 00:15:46,600 Speaker 2: this all the time. So when I was covering commodities 317 00:15:46,640 --> 00:15:49,120 Speaker 2: and I was on the floor of the commodities exchange 318 00:15:49,120 --> 00:15:51,680 Speaker 2: and gold prices were doing this and silver prices were 319 00:15:51,720 --> 00:15:54,720 Speaker 2: doing that, and you know, silver's more affordable than gold, 320 00:15:54,760 --> 00:15:56,240 Speaker 2: and I was like, Okay, I should add this. And 321 00:15:56,960 --> 00:15:59,200 Speaker 2: I was like, He's like, how's that going to fit 322 00:15:59,240 --> 00:16:01,320 Speaker 2: into your plan? Like why do you need that? And 323 00:16:02,440 --> 00:16:05,520 Speaker 2: just the noise, just the you know, again, staying on 324 00:16:05,560 --> 00:16:06,880 Speaker 2: your math, figuring out. 325 00:16:06,800 --> 00:16:09,080 Speaker 1: What you need to do to achieve your goals. 326 00:16:09,680 --> 00:16:12,600 Speaker 2: Having an advisor has been very, very helpful for me 327 00:16:12,840 --> 00:16:15,280 Speaker 2: in doing that. Yes, you have to pay somebody to 328 00:16:15,360 --> 00:16:17,280 Speaker 2: do this, this is their full time job. It's not 329 00:16:17,360 --> 00:16:19,160 Speaker 2: your full time job. If you can do it as 330 00:16:19,200 --> 00:16:21,200 Speaker 2: a full time job, you don't need an advisor, but 331 00:16:21,240 --> 00:16:24,160 Speaker 2: most people can't. I actually don't think there's a time 332 00:16:24,160 --> 00:16:27,000 Speaker 2: where it's too early necessarily to start talking to someone, 333 00:16:27,080 --> 00:16:30,920 Speaker 2: especially because the way that financial advisors work today, and 334 00:16:30,960 --> 00:16:34,680 Speaker 2: even doing something with an online a hybrid advisor or 335 00:16:34,720 --> 00:16:37,440 Speaker 2: something like that, you can do it on a fee 336 00:16:37,480 --> 00:16:40,200 Speaker 2: only based You can do it based on one task 337 00:16:40,280 --> 00:16:43,600 Speaker 2: you want to have help accomplish. You don't have to 338 00:16:43,640 --> 00:16:47,880 Speaker 2: have someone that has paid a percentage of your assets 339 00:16:47,960 --> 00:16:52,400 Speaker 2: necessarily to get advice. So think about the way that 340 00:16:52,480 --> 00:16:55,800 Speaker 2: you want to have the help, and then you can 341 00:16:55,840 --> 00:16:58,240 Speaker 2: find the person that's the best for you. And I 342 00:16:58,280 --> 00:17:04,240 Speaker 2: think that websites like the Financial Planning Association or the 343 00:17:04,280 --> 00:17:09,280 Speaker 2: CFPB board, the Certified Financial Planning Board websites can help 344 00:17:09,320 --> 00:17:13,560 Speaker 2: you find advisors in your area for exactly what you want, 345 00:17:13,600 --> 00:17:16,960 Speaker 2: whether it's college planning for your kids, retirement planning for yourself, 346 00:17:17,240 --> 00:17:19,280 Speaker 2: trying to get out of debt. All of those things 347 00:17:19,320 --> 00:17:21,840 Speaker 2: are important, And if the debt issue is one of 348 00:17:21,840 --> 00:17:24,679 Speaker 2: the things, I think the National Foundation for Credit Counseling 349 00:17:24,720 --> 00:17:26,600 Speaker 2: is also a good one to go to to kind 350 00:17:26,640 --> 00:17:29,040 Speaker 2: of figure out plans for dealing with that. But I 351 00:17:29,200 --> 00:17:32,240 Speaker 2: love talking to real people. I know I'd like to. 352 00:17:32,320 --> 00:17:33,840 Speaker 2: I read a lot too, So there are a lot 353 00:17:33,880 --> 00:17:36,720 Speaker 2: of great websites and apps and things that you can use. 354 00:17:36,760 --> 00:17:39,320 Speaker 2: But I think talking to someone who can really get 355 00:17:39,320 --> 00:17:42,080 Speaker 2: an understanding of who you are and what you want 356 00:17:42,160 --> 00:17:45,800 Speaker 2: to accomplish is really important in figuring out the financial 357 00:17:45,800 --> 00:17:47,320 Speaker 2: plan that's going to help you be able to do that. 358 00:17:49,280 --> 00:17:51,920 Speaker 3: Hey, bafam, we're going to take a quick break, pay 359 00:17:51,960 --> 00:17:55,720 Speaker 3: some bills, and we'll be right back. All right, bafam, 360 00:17:55,760 --> 00:17:59,200 Speaker 3: We're back. I really like the idea of just having 361 00:17:59,280 --> 00:18:04,280 Speaker 3: one big meeting and one big recalibration of my investments, 362 00:18:04,280 --> 00:18:07,520 Speaker 3: but just saving that for like once a year. It's 363 00:18:07,640 --> 00:18:11,359 Speaker 3: otherwise for me, it becomes something to stress about and 364 00:18:11,480 --> 00:18:13,080 Speaker 3: I don't want to have, Like if you have someone 365 00:18:13,080 --> 00:18:15,520 Speaker 3: who's fiddling with your stuff like every month or every quart, 366 00:18:15,520 --> 00:18:16,920 Speaker 3: I don't know how it can work when it's now 367 00:18:17,000 --> 00:18:20,280 Speaker 3: or actively managed. I definitely want to avoid that. But 368 00:18:20,760 --> 00:18:23,480 Speaker 3: one step above the financial planning that I've done before, 369 00:18:23,520 --> 00:18:25,480 Speaker 3: where it's like, you know, you have your retirement plan 370 00:18:25,520 --> 00:18:28,080 Speaker 3: and it's put your deciding how much to put here 371 00:18:28,160 --> 00:18:30,600 Speaker 3: and what your goal should be for that. You know, 372 00:18:30,960 --> 00:18:34,679 Speaker 3: having a real set of like professional eyeballs on my 373 00:18:35,080 --> 00:18:37,520 Speaker 3: broker and my husband's by the way, because I didn't 374 00:18:37,560 --> 00:18:39,600 Speaker 3: know what he was invested in either. I thought I did, 375 00:18:39,640 --> 00:18:41,800 Speaker 3: but he'd been doing stuff. I don't want to talk 376 00:18:41,800 --> 00:18:44,600 Speaker 3: about it, but yeah, it's a good time. 377 00:18:44,680 --> 00:18:47,040 Speaker 2: It's really it's important, and you know it's it's you know, 378 00:18:47,080 --> 00:18:49,240 Speaker 2: you're going to be the CEO of your financial life, right, 379 00:18:49,440 --> 00:18:51,840 Speaker 2: but you need to build a team around you to 380 00:18:51,920 --> 00:18:54,760 Speaker 2: make sure that you're able to accomplish the goals that 381 00:18:54,840 --> 00:18:57,480 Speaker 2: you want to do. And so whether that's having a 382 00:18:57,480 --> 00:19:00,760 Speaker 2: financial advisor, having a tax professional, having a state planning 383 00:19:00,800 --> 00:19:02,720 Speaker 2: attorney because you have children, you want to make sure 384 00:19:02,760 --> 00:19:06,600 Speaker 2: that you have the right estate planning documents. All of 385 00:19:06,640 --> 00:19:08,960 Speaker 2: those people are important to help you reach your goal 386 00:19:09,359 --> 00:19:11,760 Speaker 2: and to help you stay on track when you start 387 00:19:11,760 --> 00:19:14,879 Speaker 2: thinking about things like I just heard this news about 388 00:19:15,119 --> 00:19:17,840 Speaker 2: I could put private company assets into my four one 389 00:19:17,920 --> 00:19:19,719 Speaker 2: K How do I do that? They say, I can 390 00:19:19,760 --> 00:19:21,920 Speaker 2: make a lot more money, it might be more expensive. 391 00:19:22,040 --> 00:19:23,800 Speaker 2: I can't really, I don't really get to see what 392 00:19:23,880 --> 00:19:26,840 Speaker 2: those financials are, Like I do you know the companies 393 00:19:26,880 --> 00:19:29,000 Speaker 2: that are in the mutual funds or the exchange trader 394 00:19:29,040 --> 00:19:31,320 Speaker 2: funds that I have, But I still am interested. What 395 00:19:31,320 --> 00:19:33,600 Speaker 2: should I do someone to talk through it with. 396 00:19:34,119 --> 00:19:36,520 Speaker 1: Yeah, and also just slow your role, Just slow down, 397 00:19:37,400 --> 00:19:39,520 Speaker 1: all right. So just to wrap up and thank you 398 00:19:39,560 --> 00:19:41,560 Speaker 1: so much again Sharon for joining us. But the private 399 00:19:41,600 --> 00:19:44,040 Speaker 1: equity funds being available in your four to one K 400 00:19:44,840 --> 00:19:48,520 Speaker 1: cute interesting novel, But don't just go scooping them up 401 00:19:48,520 --> 00:19:50,439 Speaker 1: as soon as you get access to it, whatever that 402 00:19:50,520 --> 00:19:53,720 Speaker 1: may be. We didn't mention this, but they're also there 403 00:19:53,760 --> 00:19:56,399 Speaker 1: tend to be higher fees with these alternative investments as 404 00:19:56,440 --> 00:19:57,320 Speaker 1: well to it'd say they do. 405 00:19:57,400 --> 00:19:59,119 Speaker 2: And a lot of people are very concerned about their 406 00:19:59,119 --> 00:20:03,520 Speaker 2: four one key already. So now you add assets that 407 00:20:03,560 --> 00:20:06,520 Speaker 2: have even higher fees, definitely something to consider and how 408 00:20:06,560 --> 00:20:08,600 Speaker 2: that could impact the returns that you're going to get. 409 00:20:08,760 --> 00:20:11,320 Speaker 1: And the second thing is the liquidity. Can you talk 410 00:20:11,320 --> 00:20:14,160 Speaker 1: a little bit about how what that even means? 411 00:20:14,160 --> 00:20:16,040 Speaker 2: And then well, it just kind of means the money's 412 00:20:16,080 --> 00:20:19,800 Speaker 2: tied up, you know, you're not able to access it 413 00:20:19,800 --> 00:20:23,640 Speaker 2: as easily. What's interesting that that plays a bigger role 414 00:20:23,680 --> 00:20:26,160 Speaker 2: for people who are investing in private assets in their 415 00:20:26,200 --> 00:20:28,880 Speaker 2: own brokerage accounts and things like that. In your four 416 00:20:29,000 --> 00:20:30,960 Speaker 2: one K, you're not really supposed to be trying to 417 00:20:31,000 --> 00:20:33,040 Speaker 2: get money out of that four one K until after 418 00:20:33,080 --> 00:20:36,159 Speaker 2: fifty nine and a half anyway, So you know, but 419 00:20:36,320 --> 00:20:39,840 Speaker 2: it is just the idea that you're you want to 420 00:20:39,880 --> 00:20:42,760 Speaker 2: make sure if you're adding, if you eventually decide that 421 00:20:42,800 --> 00:20:44,639 Speaker 2: you're going to add an asset like this, it's not 422 00:20:44,880 --> 00:20:47,600 Speaker 2: liquid hard to get to that. You might want to 423 00:20:47,640 --> 00:20:51,959 Speaker 2: have some cash alternative or some type of more liquid 424 00:20:52,000 --> 00:20:54,960 Speaker 2: investment that you could get access to. And this is 425 00:20:54,960 --> 00:20:57,600 Speaker 2: particularly important for people who have money in their retirement 426 00:20:57,600 --> 00:20:59,960 Speaker 2: accounts and are closer to retirement. And I think that 427 00:21:00,000 --> 00:21:03,120 Speaker 2: that's something we also didn't mention. This is I think 428 00:21:03,160 --> 00:21:08,200 Speaker 2: a product that or the idea that allowing alternative investments 429 00:21:08,240 --> 00:21:10,040 Speaker 2: to be included in a four to one K or 430 00:21:10,080 --> 00:21:12,880 Speaker 2: in a workplace plan is something for people who have 431 00:21:12,960 --> 00:21:17,680 Speaker 2: significant assets in their plans already and they're close, which 432 00:21:17,680 --> 00:21:21,280 Speaker 2: means they're likely closer to retirement, closer to figuring out, 433 00:21:21,400 --> 00:21:23,600 Speaker 2: you know how they're going to then have to use 434 00:21:23,640 --> 00:21:27,760 Speaker 2: the money and withdraw that money. So I think that 435 00:21:27,760 --> 00:21:29,120 Speaker 2: that's not just the thing to think about. 436 00:21:29,119 --> 00:21:31,680 Speaker 1: Its money you have to play with, or does something 437 00:21:31,680 --> 00:21:33,200 Speaker 1: about having a shorter time frame. 438 00:21:33,400 --> 00:21:35,760 Speaker 2: I think I think it's because you have more money 439 00:21:36,680 --> 00:21:39,480 Speaker 2: that you can yes, that you think that you can risk, 440 00:21:40,040 --> 00:21:41,960 Speaker 2: that you can risk because it's higher risk as well. 441 00:21:42,200 --> 00:21:44,240 Speaker 1: Yeah, that's just so interesting because it also feels like 442 00:21:44,280 --> 00:21:46,399 Speaker 1: the older you get, the more conservative in a way, 443 00:21:47,080 --> 00:21:50,080 Speaker 1: you may feel like you can become I'm watching my parents. 444 00:21:50,080 --> 00:21:52,959 Speaker 2: That's exactly right, and that's why, you know, one financial 445 00:21:52,960 --> 00:21:55,320 Speaker 2: advisor I spoke to say, this is just asking for 446 00:21:55,359 --> 00:21:58,040 Speaker 2: trouble for a lot of people because they're not understanding 447 00:21:58,080 --> 00:22:00,760 Speaker 2: what's in the plan to begin with, what they they're 448 00:22:00,800 --> 00:22:03,760 Speaker 2: going to need as they get closer to retirement to 449 00:22:03,760 --> 00:22:06,000 Speaker 2: be able to have access to that money and have 450 00:22:06,080 --> 00:22:10,080 Speaker 2: some stability there. And then you dangle this idea that 451 00:22:10,160 --> 00:22:12,919 Speaker 2: you can get much higher returns, much higher returns, and 452 00:22:12,920 --> 00:22:15,320 Speaker 2: people are like, Okay, I'm far away from where I 453 00:22:15,320 --> 00:22:16,520 Speaker 2: thought I was going to be and I want to 454 00:22:16,520 --> 00:22:18,840 Speaker 2: retire soon, so maybe I'll put even more into this. 455 00:22:19,280 --> 00:22:23,159 Speaker 1: It's just yeah, slow your role, slower role, all right, 456 00:22:23,240 --> 00:22:25,199 Speaker 1: slow your role. My Sharon et person, thank you so 457 00:22:25,280 --> 00:22:27,800 Speaker 1: much for joining me for the BAQA. Can you please 458 00:22:27,800 --> 00:22:30,080 Speaker 1: tell a Brown Ambition fam where they can find you 459 00:22:30,240 --> 00:22:34,440 Speaker 1: and other than at CNBC to say hello, support your work. 460 00:22:34,800 --> 00:22:37,440 Speaker 2: Well, I think everyone should sign up for the CNBC 461 00:22:37,560 --> 00:22:40,680 Speaker 2: dot com slash Money one oh one newsletter that's my 462 00:22:40,800 --> 00:22:43,120 Speaker 2: newsletter or It's Money one on one newsletters, an eight 463 00:22:43,160 --> 00:22:45,960 Speaker 2: part series going through things that we've talked about today, 464 00:22:46,480 --> 00:22:52,080 Speaker 2: from budgeting to retirement savings, emergency savings, estate planning. Every 465 00:22:52,080 --> 00:22:54,200 Speaker 2: week for eight weeks, you'll get just a little prompt 466 00:22:54,240 --> 00:22:56,560 Speaker 2: to make you think about have I thought about this yet? 467 00:22:56,760 --> 00:22:58,880 Speaker 2: Who do I should I talk to about dealing with this? 468 00:22:59,160 --> 00:23:01,359 Speaker 2: As I'm coming up with my own financial plan, I'm 469 00:23:01,400 --> 00:23:04,040 Speaker 2: going on my own financial journey, So I'd urge you 470 00:23:04,119 --> 00:23:06,520 Speaker 2: all to sign up for that free newsletter, and every 471 00:23:06,520 --> 00:23:09,320 Speaker 2: month you get another little prompt about things that are 472 00:23:09,320 --> 00:23:12,080 Speaker 2: happening in the news right now, like private assets in 473 00:23:12,160 --> 00:23:14,280 Speaker 2: four one K plans and what you need to know 474 00:23:14,359 --> 00:23:17,800 Speaker 2: about that. The other thing is follow me on Instagram, 475 00:23:17,800 --> 00:23:22,720 Speaker 2: on LinkedIn, TikTok. I'm on all the platforms, and again, 476 00:23:22,880 --> 00:23:25,320 Speaker 2: my goal is to give you just something to think about. 477 00:23:25,840 --> 00:23:28,439 Speaker 2: Manny said it. We're not financial advisors. I'm not a 478 00:23:28,440 --> 00:23:31,560 Speaker 2: certified financial planner, though I think people should access them 479 00:23:31,600 --> 00:23:34,960 Speaker 2: as much as possible. But I am someone who can 480 00:23:35,359 --> 00:23:39,080 Speaker 2: give you some names, give you some resources, and help 481 00:23:39,119 --> 00:23:41,239 Speaker 2: you figure out who you should talk to and what 482 00:23:41,280 --> 00:23:44,720 Speaker 2: information you should be looking into to help you reach 483 00:23:44,720 --> 00:23:45,840 Speaker 2: your financial dreams. 484 00:23:45,840 --> 00:23:50,159 Speaker 1: Such a trusted source of knowledge and such a wide 485 00:23:50,240 --> 00:23:53,199 Speaker 1: range of experience in this field, y'all. Don't sleep on 486 00:23:53,240 --> 00:23:55,720 Speaker 1: sharing at person and don't use chat GPT when you 487 00:23:55,760 --> 00:23:58,560 Speaker 1: have Sharon right here at your fingerstips like go follow 488 00:23:58,560 --> 00:24:01,280 Speaker 1: her everywhere. Like she said, I'm definitely signing up for 489 00:24:01,320 --> 00:24:03,800 Speaker 1: that newsletter. Great timing too, because ba Fan, we were 490 00:24:03,840 --> 00:24:06,160 Speaker 1: just talking about doing a bit of a personal finance 491 00:24:06,200 --> 00:24:08,560 Speaker 1: and savings refresh through the end of the year, so 492 00:24:08,600 --> 00:24:09,840 Speaker 1: it sounds like all we got to do is sign 493 00:24:09,880 --> 00:24:12,760 Speaker 1: up for that newsletter. Thank you, the perfect time for 494 00:24:12,800 --> 00:24:15,000 Speaker 1: a check out. Amazing. All right, Sharon, thank you so 495 00:24:15,080 --> 00:24:20,320 Speaker 1: much for joining me. Take care, Thank you, okay va fam, 496 00:24:20,359 --> 00:24:22,720 Speaker 1: thank you so much for listening to this week's show. 497 00:24:22,800 --> 00:24:26,080 Speaker 1: I want to shout out to our production team, Courtney, 498 00:24:26,240 --> 00:24:31,080 Speaker 1: our editor, Carla, our fearless leader for idea to launch productions. 499 00:24:31,520 --> 00:24:34,960 Speaker 1: I want to shout out my assistant Lauda Escalante and 500 00:24:35,119 --> 00:24:38,399 Speaker 1: Cameron McNair for helping me put the show together. It 501 00:24:38,480 --> 00:24:42,040 Speaker 1: is not a one person project, as much as I 502 00:24:42,080 --> 00:24:44,600 Speaker 1: have tried to make it so these past ten years. 503 00:24:44,760 --> 00:24:48,000 Speaker 1: I need help, y'all, and thank goodness I've been able 504 00:24:48,040 --> 00:24:50,359 Speaker 1: to put this team around me to support me on 505 00:24:50,400 --> 00:24:53,199 Speaker 1: this journey and to y'all bea fam I love you 506 00:24:53,359 --> 00:24:57,199 Speaker 1: so so so so much. Please rate, review, subscribe, Make 507 00:24:57,240 --> 00:24:59,200 Speaker 1: sure you're signed up to the newsletter to get all 508 00:24:59,240 --> 00:25:03,560 Speaker 1: the latest updates on upcoming episodes, our ten year anniversary 509 00:25:03,600 --> 00:25:07,639 Speaker 1: celebrations to come, and until next time, talk to you 510 00:25:07,720 --> 00:25:09,520 Speaker 1: soon via bye.