WEBVTT - Ep. 126 — Saving Our Parents From Themselves 0:00:16.160 --> 0:00:20.480 Hey, hey, hey, I'm tired. 0:00:21.000 --> 0:00:24.279 How are you now on this beautiful spring day? 0:00:24.800 --> 0:00:26.840 Oh my god, can you be tired? I spent the 0:00:26.880 --> 0:00:28.920 afternoon with both of my parents at the same time. 0:00:28.960 --> 0:00:30.159 I was like, is this what it feels like to 0:00:30.160 --> 0:00:34.159 be an only child? I don't like it. Like I 0:00:34.200 --> 0:00:37.160 was literally sitting between them and I was like, oh mg, 0:00:38.360 --> 0:00:40.720 oh so, but you know what I did the impossible. 0:00:40.800 --> 0:00:43.199 I got them both on the same page as it 0:00:43.240 --> 0:00:45.640 relates to retirement and estate planning. I couldn't believe it. 0:00:45.680 --> 0:00:47.200 I'm like, I am a miracle worker. 0:00:47.760 --> 0:00:49.000 Wow, that is an achievement. 0:00:49.479 --> 0:00:52.520 Yeah. Well, because what happened was so, hey, guys, I'm sorry, 0:00:52.520 --> 0:00:53.120 I'm Tiffany. 0:00:53.840 --> 0:00:57.720 I'm not sorry, but I'm Dandy and we are brown 0:00:58.160 --> 0:01:03.600 and we really worked on that intro. You guys impressed. 0:01:04.440 --> 0:01:09.920 My dad was like, hey, there's this this app ways 0:01:10.160 --> 0:01:14.600 w a Z you know, the the GPS app ways ways? 0:01:15.240 --> 0:01:17.360 And then also too, there's this app. My sister was 0:01:17.360 --> 0:01:19.760 telling him about some stock that she bought. They just 0:01:19.800 --> 0:01:22.800 had IPO drop on Friday, and she just thought it 0:01:22.800 --> 0:01:24.280 was a good stock and I like it too, And 0:01:24.319 --> 0:01:26.720 so she was telling him. Because my dad has been 0:01:26.720 --> 0:01:29.679 an investor for a long time. He just is not 0:01:29.920 --> 0:01:32.440 like an investor on his phone, so he didn't know, like, wait, 0:01:32.560 --> 0:01:34.560 there's like apps that you can do on your phone. 0:01:34.959 --> 0:01:37.440 And he was like, come to the house tomorrow. Your 0:01:37.440 --> 0:01:39.560 sister tried to explain it to me, but she wasn't clear. 0:01:39.600 --> 0:01:41.440 You're a business woman, I'm sure you'll make it better. 0:01:41.480 --> 0:01:44.640 I'm like, oh my god, yes, And you know when 0:01:44.640 --> 0:01:46.440 you get summoned, do you have to count? So when 0:01:46.440 --> 0:01:49.000 I came, the living room was all set up for 0:01:49.040 --> 0:01:50.680 like a guest. I was like, who's coming. He's like, 0:01:50.680 --> 0:01:52.400 you sit right here. He's liked, wait, let me wake 0:01:52.400 --> 0:01:54.600 your mother. She told me. She told me to wait. 0:01:54.840 --> 0:01:57.920 When you got here, I said, oh, what's happening? Like 0:01:58.160 --> 0:02:00.440 usually this kind of thing doesn't end well. It usually 0:02:00.480 --> 0:02:02.440 like we need you to cut your hair, or where's 0:02:02.480 --> 0:02:05.200 my grandchild? Or how come you're not married? So it 0:02:05.320 --> 0:02:08.639 was a weird, you know, but it was really pleasant 0:02:08.760 --> 0:02:10.440 and I was like, oh wait, I'm not in trouble 0:02:10.440 --> 0:02:12.959 for the first time. So first they made them maybe 0:02:13.040 --> 0:02:15.240 show them how to get the robin hood app there 0:02:15.240 --> 0:02:16.760 from me while I look at my mother like, ma'am, 0:02:16.840 --> 0:02:20.360 you've never bought like a whiff of a stock and 0:02:20.400 --> 0:02:22.000 she says like, I want to try it. I'm like, 0:02:22.040 --> 0:02:25.280 oh my god. So I didn't know that they didn't 0:02:25.280 --> 0:02:27.280 have online banking, so we had to go back five 0:02:27.320 --> 0:02:29.160 steps just to get to the one step. After an 0:02:29.200 --> 0:02:31.200 hour and a half, they were both up and running 0:02:31.200 --> 0:02:34.000 on Robinhood and then they're like, wait before you leave, 0:02:34.440 --> 0:02:36.720 we heard that there's GPS available on your phone. I'm like, 0:02:36.880 --> 0:02:40.440 who are you people? So another thirty minutes later, I 0:02:40.480 --> 0:02:42.320 had to teach them. I had to download ways on 0:02:42.360 --> 0:02:45.400 their phone and teach them how to how do you 0:02:45.480 --> 0:02:47.720 use it? And I thought, you know what, this is 0:02:47.760 --> 0:02:50.320 a good time because my mom, you know, is wanting 0:02:50.360 --> 0:02:55.320 to retire and my dad had My dad is a 0:02:55.520 --> 0:02:58.680 is a c what was a c PA and a CFO, 0:02:59.480 --> 0:03:01.880 and so he had a whole financial plan set aside 0:03:01.880 --> 0:03:03.679 for them. But my mom actually wants to retire a 0:03:03.760 --> 0:03:06.920 year earlier and she's pretty determined. So because of that, 0:03:07.000 --> 0:03:09.280 they work on the same financial page. And so she 0:03:09.400 --> 0:03:12.120 was like, come and like, you know, help daddy, like 0:03:12.280 --> 0:03:13.839 understand that I don't want to go back to work. 0:03:13.880 --> 0:03:15.600 And so I talked to them about it. Today. I 0:03:15.600 --> 0:03:18.760 talked to them, I'm about state planning. And honestly it 0:03:18.840 --> 0:03:20.480 was great, Like it was at the end and they 0:03:20.480 --> 0:03:22.680 were all excited and giddy and they're like, I feel 0:03:22.680 --> 0:03:24.839 like we had like a great technology lesson. I was like, Oh, 0:03:24.880 --> 0:03:27.720 while you're feeling happy, you know, I spoke to an 0:03:27.800 --> 0:03:30.640 state planner. I'm a state attorney and I'd love for 0:03:30.639 --> 0:03:32.880 her to come by so we can talk about long 0:03:33.000 --> 0:03:36.839 term healthcare. We could talk about your insurance, we could 0:03:36.840 --> 0:03:40.400 talk about you know, your will and updating it. And 0:03:40.400 --> 0:03:42.880 my dad said okay, and I said also too. You know, 0:03:43.000 --> 0:03:46.040 mommy has a new retirement expert that she's working with 0:03:46.080 --> 0:03:51.960 as far as her financis. He's a CFP financial advisor, 0:03:52.200 --> 0:03:56.520 but he specializes in a baby boomer is transitioning into retirement. 0:03:56.880 --> 0:03:58.400 And I was like, Daddy, you really, I really want 0:03:58.440 --> 0:04:00.280 you to come to the next meeting. And he said, okay, 0:04:00.280 --> 0:04:02.960 I'm available on you know, Monday, Tuesday. Meanwhile, you're available 0:04:03.000 --> 0:04:06.080 Sunday to Sunday you're retired. But he wasn't. 0:04:06.360 --> 0:04:09.000 He didn't know that she was talking to this planner. 0:04:09.680 --> 0:04:12.760 He was like not happy because, like I said, my 0:04:12.840 --> 0:04:15.120 dad is really sad. I mean, I got all of 0:04:15.120 --> 0:04:17.479 my financial acumen from him. All of my sisters did, 0:04:17.880 --> 0:04:20.560 and so he's really savvy. He's planned in retirement but 0:04:21.120 --> 0:04:24.359 based upon his timeline. But you know, I think that 0:04:24.440 --> 0:04:26.279 he was just kind of like, you're cheating on me 0:04:26.320 --> 0:04:29.320 with this financial planner, you know. Yeah, but he was 0:04:29.320 --> 0:04:30.840 in a good mood, so I was like, yes, let 0:04:30.839 --> 0:04:32.800 me slip this in. And so I'm happy because he 0:04:32.880 --> 0:04:37.080 was like yes to both things, to the lawyer and 0:04:37.160 --> 0:04:39.680 to the financial planner. And so I feel really good 0:04:39.720 --> 0:04:41.640 because my dad is in his seventies, you know, and 0:04:42.320 --> 0:04:44.479 it just makes me concern that there will still says 0:04:44.800 --> 0:04:48.080 Tiffany age six belongs to uncle Tony, should we pass away. 0:04:49.520 --> 0:04:51.760 Meanwhile, my dad texted me the day after text day 0:04:51.800 --> 0:04:59.080 and is like, how do you file an extension? Oh god, oh, 0:04:59.440 --> 0:04:59.960 oh my god. 0:05:00.000 --> 0:05:01.080 Don't you just worry about them? 0:05:01.120 --> 0:05:05.200 So I am like so worried. But also, you know, 0:05:05.279 --> 0:05:07.719 I have distance on my side here because my dad 0:05:07.800 --> 0:05:10.880 is in Atlanta. My baby brother is in Atlanta. So 0:05:11.040 --> 0:05:13.600 actually shout out to my little brother because he's usually 0:05:13.600 --> 0:05:16.560 tasked with like dad duty, like you know, computer tech 0:05:16.640 --> 0:05:20.240 support and things like that. Taxes was supposed to be 0:05:20.320 --> 0:05:22.440 my thing, and I was kind of I was like dad, 0:05:22.880 --> 0:05:25.200 here's all the resources, here's how you file. You should 0:05:25.200 --> 0:05:27.560 be able to file for free. There's so much work 0:05:27.600 --> 0:05:29.919 with my dad because he's got this. I think, like 0:05:30.000 --> 0:05:33.400 a lot of people who grew up in like high 0:05:33.440 --> 0:05:36.880 poverty areas. You know, he grew up in Atlanta, there 0:05:36.960 --> 0:05:40.919 is just like this total distrust of the government and 0:05:41.000 --> 0:05:44.040 of financial institutions. And this is the man who I 0:05:45.040 --> 0:05:48.159 witnessed go to a bank. He stood in line for 0:05:48.200 --> 0:05:51.360 fifteen minutes outside of a bank on a Saturday to 0:05:51.400 --> 0:05:53.720 deposit some cash that he had gotten from a job. 0:05:54.080 --> 0:05:56.560 He deposited the cash and then he left and went 0:05:56.600 --> 0:05:58.320 to ATM and took out some money. 0:05:58.440 --> 0:05:58.719 Why. 0:05:59.000 --> 0:06:00.680 I was like, why, Dad, why you wait and wait 0:06:00.720 --> 0:06:02.680 in line just to take the money out at the ATM? 0:06:03.080 --> 0:06:05.280 He was like, I thought about it. I didn't want 0:06:05.320 --> 0:06:07.160 them having that much of my money. And I changed 0:06:07.160 --> 0:06:07.599 my mind. 0:06:08.000 --> 0:06:08.680 Oh my god. 0:06:08.760 --> 0:06:11.960 And I'm like, but why. And I'm trying to explain 0:06:12.080 --> 0:06:15.239 how FDIC insurance works. You know, up to two hundred 0:06:15.279 --> 0:06:17.720 and fifty thousand dollars of your money. That's hell that 0:06:17.760 --> 0:06:20.440 a bank account is entirely insured by the government. You 0:06:20.480 --> 0:06:22.440 will not lose it even if the bank fails. He 0:06:22.480 --> 0:06:24.920 doesn't want to hear it. He just has this. You know, 0:06:25.120 --> 0:06:27.960 he is the kind of person who, and I've confirmed this, 0:06:28.200 --> 0:06:30.839 just keeps cash rolled up in his sock like his 0:06:30.960 --> 0:06:34.040 piggy bang. His whole four one k is like basically 0:06:34.440 --> 0:06:36.280 just stuffed in corners of the I'm like, what if 0:06:36.279 --> 0:06:38.200 the house burns down? But he doesn't care, you know 0:06:38.680 --> 0:06:41.839 he And it's so frustrating to me because now I'm 0:06:42.120 --> 0:06:44.320 I feel like I'm more aware now and I need 0:06:44.320 --> 0:06:46.279 to be doing more to help him. But like he 0:06:46.320 --> 0:06:50.560 almost needs like a financial psychologist, like to undo all 0:06:50.600 --> 0:06:54.599 the wiring and the thought process around money. And it 0:06:54.640 --> 0:06:56.760 was the same way with his taxes. He's thinking, well, 0:06:56.760 --> 0:06:58.800 if I wait till the last minute, Uncle Sam won't 0:06:58.800 --> 0:07:01.280 get my money. I'm like, Dad, you're not going to 0:07:01.320 --> 0:07:03.000 owe any money because I know what you made last 0:07:03.080 --> 0:07:04.200 You're gonna get a refund. 0:07:04.400 --> 0:07:07.560 Yeah, So you're literally holding back. It's crazy. When my 0:07:07.640 --> 0:07:09.520 mom told me, you know, I don't think I would 0:07:09.520 --> 0:07:11.560 go with that with that financial advisor, because you know 0:07:11.840 --> 0:07:14.960 he wants to well, she didn't understand that he was 0:07:15.040 --> 0:07:17.920 opening up basically a new account because the financial advisor 0:07:17.920 --> 0:07:20.320 obviously not keeping your money with your old financial advisor. 0:07:20.480 --> 0:07:22.160 And She's like, he asked for my sole security number. 0:07:22.160 --> 0:07:26.080 I said, no way. I'm like, Mommy, like, when you're 0:07:26.120 --> 0:07:27.680 opening up a new if you just go to like 0:07:27.760 --> 0:07:29.560 just say Bank of America or Wells Spargo and you're 0:07:29.600 --> 0:07:31.760 opening up a checking account, they're gonna want your sold 0:07:31.760 --> 0:07:33.960 security numbers. The government is keeping track of how your 0:07:33.960 --> 0:07:36.080 money is moving. I was like, it's just a new 0:07:36.120 --> 0:07:38.880 bank account, Like that's normal. She was like, are you certain. 0:07:38.960 --> 0:07:43.680 I'm like, ah, pretty sure. And I was thinking to myself, Oh, 0:07:43.920 --> 0:07:45.600 one day I'm gonna be old like this. I'm like, 0:07:45.640 --> 0:07:48.680 I'm old like this now. I tell Supergirl, Girl Supergirl, 0:07:48.760 --> 0:07:53.679 help me with this TV put on. I've already become them. 0:07:54.080 --> 0:07:59.600 But financially though, it's yes, it's it's difficult. Like it's 0:07:59.600 --> 0:08:02.800 one thing teaching him how to use the internet, it's 0:08:02.840 --> 0:08:05.720 another thing convincing him that, like Uncle Sam is not 0:08:05.800 --> 0:08:09.040 out to get you, at least not you, not little 0:08:09.320 --> 0:08:12.000 you know, not my dad, other people, sure, but not you. 0:08:12.880 --> 0:08:14.760 It's tough and I still haven't figured out, like what 0:08:14.880 --> 0:08:16.520 day is it. It's been a couple of weeks now, 0:08:16.560 --> 0:08:18.040 and I'm like, oh, I gotta get check in with 0:08:18.080 --> 0:08:19.920 dad about his taxes. I don't know what he's done. 0:08:21.920 --> 0:08:26.920 Anyway, parenting exactly, parent reverse parenting, but you know what 0:08:27.000 --> 0:08:29.880 it's it's it makes you like really grateful that of 0:08:29.920 --> 0:08:32.319 the novels that you do have, because you know, if 0:08:32.360 --> 0:08:35.360 I didn't know, then I couldn't I couldn't share it 0:08:35.400 --> 0:08:38.560 with them. I think that somebody because I did a 0:08:38.640 --> 0:08:41.120 video about this on Instagram about you know, seeing my 0:08:41.160 --> 0:08:43.400 parents today and helping them, and someone said, what if 0:08:43.440 --> 0:08:45.760 you don't what if your parents don't have much? I said, 0:08:45.760 --> 0:08:47.920 then you especially need to have this conversation with them, 0:08:48.360 --> 0:08:52.920 especially especially so it's just something that you know, you 0:08:52.960 --> 0:08:56.240 know that if you if you guys are, if you 0:08:56.280 --> 0:08:58.120 have older parents, you definitely want to sit down with 0:08:58.160 --> 0:08:59.920 them at least start to have the conversation. It's not 0:08:59.920 --> 0:09:02.319 you're not going to fix it all in one conversation, 0:09:02.400 --> 0:09:04.679 but you definitely want to sit down and start to 0:09:04.760 --> 0:09:07.440 open up the doors, especially if you have brown parents. 0:09:07.800 --> 0:09:09.800 You know, money and talking to your kids about money 0:09:09.880 --> 0:09:13.880 is typically not part of our cultural norms, but you 0:09:13.880 --> 0:09:15.200 want to start to make it normal. 0:09:15.960 --> 0:09:18.960 And you also, here's another thing to think about is 0:09:19.400 --> 0:09:21.439 they may not want to come to you they may 0:09:21.440 --> 0:09:23.880 be embarrassed and they may not want to admit that 0:09:23.920 --> 0:09:26.120 they have issues. So it's almost more important for you 0:09:26.160 --> 0:09:28.160 to initiate, not even just you don't have to make 0:09:28.200 --> 0:09:30.800 it the big dramatic. Let's sit down and talk about 0:09:30.800 --> 0:09:34.400 your financial picture. But I don't know, ask them what 0:09:34.559 --> 0:09:36.679 you know, what are your monthly expenses like? And how 0:09:36.720 --> 0:09:38.079 are you paying your bills? And hey, what are you 0:09:38.120 --> 0:09:41.200 thinking about doing? What the house? You know, so many 0:09:41.280 --> 0:09:44.800 parents or a lot of older people may feel like 0:09:44.840 --> 0:09:47.079 they should have everything figured out, and they may be 0:09:47.200 --> 0:09:50.040 doing something that's not actually in their best financial interests, 0:09:50.120 --> 0:09:54.000 but they may not realize it until someone asks them 0:09:54.520 --> 0:09:56.960 or they bring it up. And like, you know, like 0:09:57.040 --> 0:09:59.640 one small thing you may find just leads to so 0:09:59.679 --> 0:10:02.640 many other, you know, larger things like I'll give you 0:10:02.640 --> 0:10:05.240 another dad example, and I love my dad, but he's 0:10:05.280 --> 0:10:08.319 he's the best example of this. He recently had decided 0:10:08.320 --> 0:10:09.839 he was going to do like he does a new 0:10:09.880 --> 0:10:13.600 career shift. He's just like a rolling stone, you know, 0:10:13.640 --> 0:10:16.640 it's always worked for him. Just have different Like he's 0:10:16.679 --> 0:10:18.560 just a hustler. He's always been a hustler. My dad's 0:10:18.600 --> 0:10:21.400 always had at least three to four different hustles happening 0:10:21.440 --> 0:10:23.760 at a given time, and recently he was going to 0:10:23.840 --> 0:10:27.360 change his hustle and he wanted to go into business 0:10:27.400 --> 0:10:29.280 as a home inspector because of the time he was 0:10:29.320 --> 0:10:31.520 working in construction, and all the guys that, you know, 0:10:31.600 --> 0:10:33.600 all the guys on the job, were talking about how 0:10:33.640 --> 0:10:36.960 much more money home inspectors make, how it's easy money. 0:10:37.120 --> 0:10:38.800 You just go to a house and open a few 0:10:38.840 --> 0:10:41.199 doors and you pocket like, you know, a few hundred bucks. 0:10:41.640 --> 0:10:44.160 And he thought this was like a golden ticket. And 0:10:44.200 --> 0:10:47.240 he started looking online apparently all this research on these 0:10:47.400 --> 0:10:51.960 for profit colleges, these for profit trade schools that have 0:10:52.320 --> 0:10:55.680 you know, certificates and home inspection or whatever, and they're 0:10:55.720 --> 0:10:58.120 like thousands of dollars. But he didn't tell me that. 0:10:58.160 --> 0:11:00.440 I just happened to ask him about something about his 0:11:00.480 --> 0:11:03.440 construction business, like you know, just trying to small talk, 0:11:03.600 --> 0:11:05.640 and then he led me into this whole conversation and 0:11:05.679 --> 0:11:07.480 he was getting ready to sign up for one of 0:11:07.520 --> 0:11:10.199 these like trade schools, to pay to pay for a 0:11:10.280 --> 0:11:12.640 course that he didn't really need to get certified as 0:11:12.640 --> 0:11:15.000 an inspector. And then I did my own research, and 0:11:15.040 --> 0:11:16.920 I'm like, Dad, here's what it really takes to become 0:11:16.920 --> 0:11:19.080 a home inspector, and it's a whole different thing than 0:11:19.080 --> 0:11:21.840 what you thought it was. And please, dear God, don't 0:11:21.880 --> 0:11:25.200 spend any money on the internet without asking me first, 0:11:25.240 --> 0:11:29.160 because you are a high high fraud risk. My friend. 0:11:29.559 --> 0:11:34.840 Yeah, geez yeah, oh yeah. Parents, But you have to 0:11:34.880 --> 0:11:37.439 dissess the thing. I mean, if you, if you have 0:11:37.480 --> 0:11:40.960 a relationship with your parents, it's really important that, especially 0:11:40.960 --> 0:11:43.840 as they get older, you start to you know, normalize 0:11:43.840 --> 0:11:46.520 these kind of conversations with them, because it's easy as 0:11:46.520 --> 0:11:49.120 they get older, no matter how sharp your parents were 0:11:49.160 --> 0:11:51.360 when you were younger, it's easier for them to be 0:11:51.400 --> 0:11:53.800 taken advantage of as they get older. Yeah, and you 0:11:53.800 --> 0:11:55.240 don't you know, you don't want that because a lot 0:11:55.280 --> 0:11:56.920 of times, you know, your parents get lonely, and so 0:11:57.400 --> 0:11:59.280 I try to make my way, you know, call them 0:11:59.400 --> 0:12:01.880 and check in on them, and so that way they 0:12:01.920 --> 0:12:03.920 know that if they do have questions. I'm just so 0:12:04.040 --> 0:12:06.680 glad that you know, my mom like she just because 0:12:06.679 --> 0:12:08.920 I wouldn't have known. She just was like, let me 0:12:08.960 --> 0:12:12.800 call my daughter. She's the financial person, you know. So 0:12:13.320 --> 0:12:15.040 but you know, she could have done this on her 0:12:15.040 --> 0:12:16.800 own and been taken advantage of and so. 0:12:17.840 --> 0:12:21.440 Especially retirement age. You know, all these financial planners who 0:12:21.440 --> 0:12:24.360 can make so much money because they know people retiring 0:12:24.440 --> 0:12:26.640 had these big four oh one K accounts, Yes, and 0:12:26.679 --> 0:12:29.360 they need to transfer them and roll them over. And yes, 0:12:29.480 --> 0:12:31.319 when you roll them over into an you know, a 0:12:31.440 --> 0:12:34.839 regular IRA, financial planners can put you in investments that 0:12:34.880 --> 0:12:38.320 they make lucrative backbacks off of. And that's that's the 0:12:38.320 --> 0:12:42.960 whole reason why this new Department of Labor rule was, 0:12:43.160 --> 0:12:45.600 you know, Obama, the Obama administration was trying to pass 0:12:45.640 --> 0:12:49.000 this new Department of Labor rule called the Fiduciary Rule, 0:12:49.040 --> 0:12:51.320 which was gonna make it so that any financial planner 0:12:51.360 --> 0:12:54.480 working with people to help them plan for retirement would 0:12:54.480 --> 0:12:56.240 have to work in their best interests. And it was 0:12:56.280 --> 0:12:59.320 going to stop It was supposedly going to stop financial 0:12:59.320 --> 0:13:04.440 planners from doing exactly that, like taking retirees uh investments, 0:13:04.480 --> 0:13:08.040 their their nest eggs and investing them into funds that directly, 0:13:09.400 --> 0:13:12.480 you know, provided revenue to the financial planner. And then 0:13:12.480 --> 0:13:15.120 of course Trump came into power, and now who knows 0:13:15.160 --> 0:13:16.800 where this law even, I don't even know if it's 0:13:16.840 --> 0:13:20.200 even passed yet, but it's yeah, it's they're you know, 0:13:20.240 --> 0:13:22.080 they have a lot of funds and these scammers they 0:13:22.120 --> 0:13:25.959 know it. Not just scammers. But that reminds me of Tanya. 0:13:26.160 --> 0:13:29.720 Tanya Rapely, she's the mythab Finance. She has a new 0:13:29.760 --> 0:13:31.720 book coming out. I was talking to her about coming 0:13:31.760 --> 0:13:33.640 on the show soon, but then I saw on Twitter 0:13:33.679 --> 0:13:36.680 recently she tweeted that her mom, you know has it, 0:13:36.800 --> 0:13:39.120 has a house that's nearly paid off and some real 0:13:39.240 --> 0:13:42.200 estate investor had offered her a certain amount of money 0:13:42.200 --> 0:13:44.800 for the house, and her mom came to Tanya and 0:13:44.880 --> 0:13:46.240 asked her if she thought it was a good deal, 0:13:46.280 --> 0:13:48.600 and Tanya's like, no, get your own appraisal. And the 0:13:48.640 --> 0:13:52.920 helm appraised for twice what the guy was asking for twice. 0:13:53.080 --> 0:13:56.280 But they're sniffing around. They're like, oh, yes, these old 0:13:56.320 --> 0:13:58.400 people don't know what they're sitting on the market is up. 0:13:58.480 --> 0:13:59.880 Let me see if I can get a sucker. And 0:14:00.240 --> 0:14:00.800 it's scary. 0:14:00.880 --> 0:14:03.760 So it is, honestly, Wow. 0:14:04.120 --> 0:14:06.080 Well I wanted to talk about did you hear about 0:14:06.120 --> 0:14:09.560 this whole Zell controversy? Do you know what Zell is? 0:14:10.440 --> 0:14:12.480 Yeah? If I use it for Wells Fargo uses them. 0:14:13.000 --> 0:14:16.360 Yeah, So Zell basically was this the big banks got 0:14:16.400 --> 0:14:20.200 together and decided man Venmo, you know this pavement app 0:14:20.240 --> 0:14:22.360 that makes it so easy for people to send money 0:14:22.360 --> 0:14:24.720 to each other is like stealing money from us, basically 0:14:24.840 --> 0:14:27.040 taking a lot of potential revenue for us. So they 0:14:27.040 --> 0:14:30.200 got together and agreed to start with zel z E 0:14:30.360 --> 0:14:32.840 L E. So a lot of big banks like Wells Fargo, 0:14:32.880 --> 0:14:36.680 Bank of America, I think even ally maybe Chase. A 0:14:36.680 --> 0:14:39.440 lot of the big banks now allow you to very 0:14:39.440 --> 0:14:43.360 easily send money from bank to bank through zell. What's 0:14:43.400 --> 0:14:46.320 happening though, is people are realizing so some people are 0:14:46.400 --> 0:14:50.280 using zel to transfer payments to like an online ticket 0:14:50.280 --> 0:14:53.200 seller if you're trying to buy you know, concert tickets 0:14:53.520 --> 0:14:55.680 or you're trying to buy something off Craigslist and you 0:14:55.840 --> 0:14:59.000 want to send money to whoever. And what's happening is 0:14:59.080 --> 0:15:04.160 some people are getting their money stolen by fraudsters. So 0:15:04.360 --> 0:15:06.520 you think you're giving money for something, and yet you're 0:15:06.520 --> 0:15:09.200 never getting what you paid for, and the person disappears, 0:15:09.520 --> 0:15:12.080 and then they want to call their bank and say 0:15:12.120 --> 0:15:15.400 I did this through zell am I covered. You're actually 0:15:15.400 --> 0:15:19.200 not protected if you're the one initiating the transaction, like 0:15:19.240 --> 0:15:21.920 if you're the one sending money through Zell, to the 0:15:21.960 --> 0:15:25.240 bad person, to the hacker, to the fraudster, whoever you're 0:15:25.240 --> 0:15:28.120 in that trend, that fraud is not covered. The only 0:15:28.160 --> 0:15:31.280 one that is covered is if like a fraudster hacks 0:15:31.280 --> 0:15:34.000 their way into your account through Zell or whatever and 0:15:34.040 --> 0:15:36.960 takes your money that way, and it's caused all this 0:15:37.120 --> 0:15:40.440 like confusion and uproar. So I just wanted to let 0:15:40.480 --> 0:15:43.040 everyone know. If you're using Zel, think of it like 0:15:43.080 --> 0:15:45.840 you're giving a twenty dollars bill, like actual cash money 0:15:45.880 --> 0:15:48.600 to someone. You wouldn't send that money put in an envelope, 0:15:48.640 --> 0:15:50.400 stick it in the mail, and send it to a 0:15:50.480 --> 0:15:53.840 random person, but you would hand it to a person 0:15:53.840 --> 0:15:56.160 that you know, like personally, Like if I knew Tiffany, Hey, 0:15:56.200 --> 0:15:58.280 there's twenty bucks for the dinner that you know we 0:15:58.320 --> 0:16:01.080 split last night, I would do that. You never want 0:16:01.080 --> 0:16:03.240 to use Zel to send it to someone who you 0:16:03.280 --> 0:16:06.720 don't know, so an online seller or I don't know, 0:16:06.800 --> 0:16:09.600 even even like a bill, like if someone's trying to 0:16:10.160 --> 0:16:13.080 charge you for some service like a moving company or something, 0:16:13.440 --> 0:16:17.760 don't use Zel because you won't be covered. You won't 0:16:17.760 --> 0:16:20.200 be covered if they end up being a fraudster. Again, 0:16:20.240 --> 0:16:22.120 the only thing that you're covered for is like if 0:16:22.160 --> 0:16:23.680 someone hacks into your count through zell. 0:16:24.080 --> 0:16:26.720 It's just like, you know, digital scams are on the 0:16:26.800 --> 0:16:28.960 rise and you have to be mindful. That's why I said, 0:16:29.000 --> 0:16:32.680 you want to especially be careful with your older parents, 0:16:32.720 --> 0:16:34.800 but you just have to be mindful. No one is 0:16:34.840 --> 0:16:37.200 exempt from being scammed on the internet. 0:16:37.440 --> 0:16:39.440 I know it feels like I'm getting scammed every day 0:16:39.480 --> 0:16:41.640 because money is draining out of my account and putting 0:16:41.640 --> 0:16:42.360 into my house. 0:16:43.280 --> 0:16:47.360 Oh oh, don't even like we're finally just like we 0:16:48.200 --> 0:16:50.960 got to assess this person. But this LED thing, it 0:16:51.080 --> 0:16:53.880 is like an animal, all of it. So it's to 0:16:53.920 --> 0:16:55.880 the point now where honestly Superman is going to take 0:16:55.880 --> 0:16:58.440 a class. Our project manager was like, you know, I've 0:16:58.440 --> 0:17:00.560 always wanted to be certified to He's going to take 0:17:00.560 --> 0:17:02.600 the class too, because you know Superman does that would 0:17:02.640 --> 0:17:05.760 not lead, but he does like I don't know, super 0:17:06.240 --> 0:17:07.399 stuff for the city. 0:17:08.200 --> 0:17:09.560 He does like house stuff. 0:17:10.040 --> 0:17:12.639 Yeah right, it's like as a job. But he's just 0:17:12.680 --> 0:17:15.400 never been like certified in like lead removal. So they're 0:17:15.400 --> 0:17:17.720 both going to now that they have a romance going 0:17:17.760 --> 0:17:20.040 on because him and our project manager, oh my gosh, 0:17:20.400 --> 0:17:24.760 like we love the project manager and his wife. They're like, amazing, 0:17:24.760 --> 0:17:27.560 who's the designer, and so they're like our real friends now, 0:17:27.600 --> 0:17:29.200 and so they're like, you know, let's just take the 0:17:29.880 --> 0:17:32.760 lead removal class. It's three hours and because we don't 0:17:32.760 --> 0:17:36.159 have that much honestly, it's just some chemical thing that 0:17:36.200 --> 0:17:38.600 you painted on paint on the lead, covered with plastic 0:17:38.800 --> 0:17:40.640 and then peel it off. And so instead of because 0:17:40.640 --> 0:17:44.080 he's with paint, yeah, it's in the paint because of 0:17:44.119 --> 0:17:47.520 the age of the house, like it's been painted over, 0:17:47.800 --> 0:17:49.359 like you know, certain parts of the would have been 0:17:49.400 --> 0:17:53.080 painted over over and over again, and during certain periods 0:17:53.080 --> 0:17:55.359 in history, like you know, the seventies or sixties or 0:17:55.400 --> 0:17:57.359 the forties or whatever. Because the house was built in 0:17:57.400 --> 0:18:00.760 nineteen twenty, lead paint was fine and it leads through 0:18:01.119 --> 0:18:04.080 the paint on top, and so there are certain areas 0:18:04.080 --> 0:18:05.840 of the house where that's happened. So we're going to 0:18:05.880 --> 0:18:08.440 remove it. And people were charging we're trying to charge 0:18:08.520 --> 0:18:11.440 upwards of thirty thousand dollars and. 0:18:11.400 --> 0:18:13.880 That was like one thousand dollars yes. 0:18:14.040 --> 0:18:16.120 Because they were like, oh, well, you know, you guys 0:18:16.119 --> 0:18:17.439 have a lot of wood in here. We're like, well, 0:18:17.440 --> 0:18:19.040 like yeah, but all of it doesn't have lead, and 0:18:19.600 --> 0:18:21.400 it just mean that was like the that was someone 0:18:21.400 --> 0:18:22.880 who had not seen the house. That was someone who 0:18:22.920 --> 0:18:24.879 was just kind of like reading the report. It was 0:18:24.880 --> 0:18:28.160 like it couldn't be anywhere upwards to eight thirty thousand dollars. 0:18:28.200 --> 0:18:30.400 And I was just like, you know what. And then 0:18:30.400 --> 0:18:33.280 we actually had some really great contractors come by and 0:18:33.440 --> 0:18:36.760 or like lead abatement folks come by and they were like, honestly, 0:18:36.760 --> 0:18:38.560 it's not even that much. You guys could do this yourself. 0:18:38.720 --> 0:18:40.840 There's literally a class of a couple of hundred bucks, 0:18:41.119 --> 0:18:43.000 and it'll be cheaper, and it's good for you to learn, 0:18:43.040 --> 0:18:45.119