Speaker 1: Hey, hey, ba fam, it's time for the b a
Speaker 1: qa A the v a q a what to say
Speaker 1: the v a q wait with manday, the v a
Speaker 1: q a the b a qa A.
Speaker 2: Happy holidays, ba fam.
Speaker 1: We're on the other side of Christmas now, and I
Speaker 1: hope that it was a beautiful holiday for y'all. Or
Speaker 1: if it wasn't, it's in the past, y'all, it's over.
Speaker 1: Let's move forward. Let's look ahead now. In this special
Speaker 1: episode of the ba Qa we're going to take a
Speaker 1: look back at some of our favorite questions of the year.
Speaker 2: I hope y'all enjoy it. Hope you just you know,
Speaker 2: can play this while you're you know, enjoying watching the
Speaker 2: kids run around with all those gifts, and hopefully maybe
Speaker 2: you're having a white Christmas. Whatever.
Speaker 1: I hope you're just having a season of rest and rejuvenation.
Speaker 1: And we put together this little show just for you.
Speaker 1: Thank you, ba fam, We love you, and we'll see
Speaker 1: you in the new year.
Speaker 3: It's time for the b a q a a to
Speaker 3: b a q a which to say, the b a
Speaker 3: q eight with Tiff and a the b a q
Speaker 3: a no, Manday, I am taking these questions. I'm answering
Speaker 3: today just in general from what the people have been asking,
Speaker 3: and the people say, bujaneta buganesta question. So I have
Speaker 3: these financial resolutions and it's not looking good, Queen, even
Speaker 3: though we're in week two. How do I stay on
Speaker 3: track for the year? Who has that question? Raise your hand?
Speaker 3: Raise your hand, right? I know I have that question sometimes,
Speaker 3: and so I have found a system, if you will,
Speaker 3: that allows me to stay on relative financial track for
Speaker 3: the year. Want to hear it? Hear it? Go first
Speaker 3: things first, you do have to kind of identify I
Speaker 3: don't necessarily do resolutions, but I do try to identify
Speaker 3: what goals financial goals I'd like to meet by the
Speaker 3: end of the year. But this is what I ask myself.
Speaker 3: I say, Tiffany January one, Tiffany, what would you like
Speaker 3: January thirty first Tiffany to look like? Where would you
Speaker 3: like for her to say? Ooh chi, I went on
Speaker 3: these trips. What would you like her to be wearing?
Speaker 3: You know, I was just looking at a pair of
Speaker 3: Jordan's today, these jordan Ones. I love the jordan Ones.
Speaker 3: They were red and black and white. I want her
Speaker 3: to be wearing those, right, what you know? What is
Speaker 3: she a last girl, because you see, I got me
Speaker 3: a little last one. Right now? Does she still have those? Okay?
Speaker 3: Has she finally moved into her condo she's been renovating forever.
Speaker 3: Has she eaten at certain restaurants m ou la la?
Speaker 3: Has she spent time with people she wanted to spend
Speaker 3: time with? What does January thirty one Tiffany look like?
Speaker 3: And then infuse financially? What does that mean for her
Speaker 3: or him? Right? Or they?
Speaker 1: Then?
Speaker 3: Right? What does that mean? Because this is more powerful
Speaker 3: than a resolution, because of the resolution is like, I'm
Speaker 3: gonna fix my crdit. That's great. What does that actually mean?
Speaker 3: I'm literally envisioning myself December thirty first, you know, not
Speaker 3: outside because child is ghetto on New Year's Eve and dangerous,
Speaker 3: the December thirty first, reflecting on my year that's passed.
Speaker 3: And I'm gonna actually because if you know me, you
Speaker 3: know I'm always cutting my locks, and I've cut them
Speaker 3: to the chin, I've cut them shorter. But for one thing,
Speaker 3: I'm like child, I'm actually gonna let my locks grow.
Speaker 3: So I imagine it's already like at Brawlink, and so I imagine
Speaker 3: they'll be like mid back and your girl's gonna be
Speaker 3: a mermaid. I also think I'm gonna keep the lashes up.
Speaker 3: I will have traveled. I know for a fact, I'm
Speaker 3: going to Africa. I'm going to go to Johannesburg and
Speaker 3: a few surrounding countries. Literally tomorrow, I leave for Puerto
Speaker 3: Rico with my sister. I Am. I just got back
Speaker 3: from South Carolina. Y'all never told me about the sea
Speaker 3: islands Gullah Gulla. It was so freaking beautiful. I was
Speaker 3: right on the Atlantic Ocean. It was moving right. So
Speaker 3: that's happening. My sisters just started taking pilates classes. It's
Speaker 3: forty dollars a class. I'm considering it. But do you see,
Speaker 3: like as I imagine January December thirty one, Tiffany, like
Speaker 3: I'm looking at her holistically and then I'm attaching the
Speaker 3: financial goals to that holistic life. Does that make sense? Right?
Speaker 1: Like?
Speaker 3: What do I want for her? I want to have travel.
Speaker 3: You know, I don't necessarily want to lose weight, but
Speaker 3: certainly I would like my body to be tighter, little
Speaker 3: more snatched to the wakes. Okay, because I'm bringing in
Speaker 3: forty five, I want to be given forty five grown
Speaker 3: woman energy, but the body of thirty maybe not thirty
Speaker 3: because thirty I was too skinny. Thirty five, thirty seven, No,
Speaker 3: just tighter than what I am now. I still give
Speaker 3: it key though, right, But I literally am asking myself,
Speaker 3: how do I want to show up on the last
Speaker 3: day of the year, and what does that look like?
Speaker 3: What I have to do now, and how does that
Speaker 3: tie into my financial life? Is there money that I
Speaker 3: have to save? Are there trips that I have to book?
Speaker 3: Maybe I need to lean in, Like literally, I'm going
Speaker 3: to Dubai in February. Your girls outside outside here go
Speaker 3: catch this to my trips in the month of January,
Speaker 3: South Carolina. I started off with their doing Karen Hunter.
Speaker 3: She's got this awesome podcast. She had this Healthy, Wealthy
Speaker 3: Wise conference, which was inpecably done. I started there. I
Speaker 3: go to Puerto Rico. I just got back on Sunday.
Speaker 3: I go to Puerto Rico tomorrow to celebrate my sister's
Speaker 3: fortieth Hey, haroyl, that's roman A Milia's mama Inanda. Because
Speaker 3: my friend Rachel Rogers is having her ROI conference as
Speaker 3: she has every year in Puerto Rico. So we're gonna
Speaker 3: I'm gonna go to the conference but also enjoy pr
Speaker 3: Okay and Dean. The week after that, I have to
Speaker 3: go to Boston cause I'm taping this huge podcast. Y'all
Speaker 3: heard it. Mel Robbins, you know you have Okay, I'm
Speaker 3: taking her podcast. It's in Boston, So I'll be flying
Speaker 3: out to do that. Indean, I got booked to do
Speaker 3: this gig in la a week after that, and so
Speaker 3: I might We'll see how long I stay because I
Speaker 3: have some friends in La hey Evon and my cousin Chris,
Speaker 3: so maybe I'll stay a couple of days to hang
Speaker 3: out with them, and then two weeks. Then the week
Speaker 3: after that, I'm going to be going to DC to
Speaker 3: see my friends. And so that's happened in DC. And
Speaker 3: then the week after that, I go to Dubai for
Speaker 3: this Mastermind. And during this Mastermind, my friend Terry is
Speaker 3: going to be there. She said, I've always wanted to
Speaker 3: go to Singapore. I said, okay, girl, so we are
Speaker 3: going to go to Singapore the Mastermind for Dubai. It's
Speaker 3: just two days. But who goes all the way to
Speaker 3: Dubai just to stay for two days? Not me? So
Speaker 3: I'm going to be in a way for about ten days,
Speaker 3: and so we're gonna spend time in Dubai and then
Speaker 3: spend time as saying, and then bring myself on home.
Speaker 3: That's just January February. Your girl is what outside? So
Speaker 3: as I think of December thirty one, Tiffany, she has
Speaker 3: been well traveled, right, I didn't even talk about May
Speaker 3: when I go to Africa, when I go to Johannesburg
Speaker 3: and the surrounding countries. Right, I even book all the
Speaker 3: other things I plan on doing. Okay, but in order
Speaker 3: to do that, I am currently looking at one my
Speaker 3: finances two points. I'm literally like I was watching YouTube
Speaker 3: videos today about the best way to modeem points because
Speaker 3: I got a lot of NX points, gotta United, a
Speaker 3: lot of United Airline points, some Chase Venture Card points
Speaker 3: and so but do you see that? Like, I don't
Speaker 3: want you to think of your December thirty first self
Speaker 3: just from a financial place. I want you to think
Speaker 3: of like, how will you show up holistically and then
Speaker 3: match your money to that. That's how you stick to
Speaker 3: the quote unquote resolutions, because resolutions are dry, honey and ashy,
Speaker 3: but if you make them about your holistic, wonderful life,
Speaker 3: then you say, hey, money catch up. I need you
Speaker 3: to do this, honey, I need you to give this.
Speaker 3: We need to give savings, we need to give pay
Speaker 3: down this credit card debt, we need to give maximize
Speaker 3: these points. Do you see? Do you see? Do you see?
Speaker 3: We need to give strong credit score. And so that's
Speaker 3: what I do first and foremost in order to stick
Speaker 3: to my quote unquote resolutions, is that I make it
Speaker 3: about a bigger life, not just about the money. And
Speaker 3: then I match the money to the life. I don't
Speaker 3: try to match my life to the money. That's one.
Speaker 3: Then two, one of the things I do is I
Speaker 3: look for help. I look to you. Is that windy
Speaker 3: I look Whitney, right, I look to you when I
Speaker 3: don't even know the song. But it's a cute song.
Speaker 3: I just don't have a great voice anyway, right. So
Speaker 3: one of the things I have learned in my almost
Speaker 3: forty five years of life. Well, I'm gonna say almost
Speaker 3: forty five because my birthday's not in October, so we're
Speaker 3: gonna live this cute forty four. I mean, some of
Speaker 3: y'all be hung up about a not me girl because
Speaker 3: you see the skin botox and feeler free still looking
Speaker 3: like what I'm giving. I feel like I look in
Speaker 3: my forties, which is great, but I feel like I
Speaker 3: look like in acute in my forties. Okay. The body
Speaker 3: is still boding and the face is still faced, and
Speaker 3: the skin is still skinning. Guy. Okay, So so I'm
Speaker 3: always looking for help. So in my years of living,
Speaker 3: I have learned the fastest way to get from where
Speaker 3: you are to where you want to be is typically
Speaker 3: through someone else. Because girl, why we learn a new
Speaker 3: lessons when the lessons have been learned and written about
Speaker 3: and podcast about and blogged about. Okay. So for example,
Speaker 3: I'm like, hey, I've never flown Emirates or Qatar, and
Speaker 3: I've heard they're really beautiful, and I want to fly
Speaker 3: like to when I go to Dubai. I want to
Speaker 3: have that luxury experience business or first class, that luxury experience.
Speaker 3: I mean, I've flowed obviously first class and this is before,
Speaker 3: but those are supposed to be very high upscale airlines.
Speaker 3: So I'm currently like in these AMEX groups learning through people,
Speaker 3: how do I maximize the points that I have in
Speaker 3: order to not have to pay for that? Girl? Because Baye,
Speaker 3: So through someone else you get to maximize the lessons
Speaker 3: that you want to learn. Why should you learn from scratch?
Speaker 3: That's why you're here listening to about ambition. If you
Speaker 3: want to do anything that has anything to do with
Speaker 3: financial holeness, that's budgeting, savings, debt, credit, income, investing for
Speaker 3: both retirement and wealth, your net worth, insurance, your financial
Speaker 3: team and estate planning. Any of those ten things. Child,
Speaker 3: That's why I wrote the book Made Whole. It's the
Speaker 3: workbook version of get good with money, right, and so
Speaker 3: looking for guidance. Do not do it alone. Money is
Speaker 3: a team sport. So finding people, tools and resources to
Speaker 3: help you get to the goal, the financial goal that
Speaker 3: you need to live the life that your January thirty
Speaker 3: first self is, like I I did?
Speaker 1: That?
Speaker 3: Does that make sense? So one identify your January thirty
Speaker 3: first self. What they fin to say about how the
Speaker 3: year went? Cute? Two, get yourself a guide While you
Speaker 3: out here by yourself, it's getto out here, go ahead.
Speaker 3: Get you a partner. When I used to teach free school,
Speaker 3: we would always tell the kids hold your partner's hand.
Speaker 3: Why you would have to hold your partner's hand, because
Speaker 3: if you was missing, one of these kids is gonna
Speaker 3: be like my partner's missing, and I could be like, Jahim,
Speaker 3: where are you sir? Why are you always behind? Right?
Speaker 3: So get yourself a partner. I love an accountability partner.
Speaker 3: So that's like a little friend friend that's going to
Speaker 3: walk you through well, that will walk with you on
Speaker 3: your journey. They don't have to know personal finance, but
Speaker 3: they're there to cheer you on and hold you accountable
Speaker 3: and support you and share their goals too. Right, But
Speaker 3: then you find somebody that's done the thing you're wanting
Speaker 3: to do. Like I don't know everything. I lean into
Speaker 3: my financial advisor Anjulie for certain things. I lean into
Speaker 3: my peers. You hear me talk about Cabrella a lot,
Speaker 3: one of my business peers that I bounce things off of.
Speaker 3: My friend Brandess of HFR, I bounced things off for her.
Speaker 3: I mean into my mentors Lynnette Coyle, Boddy Cox, Sondra
Speaker 3: Davis of what is it? Sage Financial Right, and so like,
Speaker 3: these are my mentors. And so I am quick to
Speaker 3: raise my hand and say I need help. Let's get
Speaker 3: good at that. I need help. I don't know, And
Speaker 3: it's okay finding those people that are doing the thing
Speaker 3: you're wanting to do and then following their lead. Some
Speaker 3: people you'll know personally and some people just follow digitally.
Speaker 3: That's fine, okay, So if you want the book, honey,
Speaker 3: go ahead and made whole workbook can certainly help me
Speaker 3: with the financial part. So that's the second part and
Speaker 3: the third part of keeping these financial resolutions is building
Speaker 3: a community around you. We work best in community. So
Speaker 3: when I said, like looking for guidance, that's typically a
Speaker 3: person or a number of people that have achieved the thing.
Speaker 3: But the community around you are like your family, your friends,
Speaker 3: your work friends, your work husband, whoever, your partner, your children.
Speaker 3: Building this community around you and sharing the things you're
Speaker 3: wanting to do, you know. So for example, I was
Speaker 3: telling my sisters, I want us to go on a
Speaker 3: sister lunch date once a month. So one that's still
Speaker 3: a financial choice. How much does that cost? How do
Speaker 3: we set that side? Maybe we have like a sister
Speaker 3: account where, like you know, the money goes there, so
Speaker 3: that one when we pay, we're just paying with one bill,
Speaker 3: but we've all contributed to say like fifty bucks a month.
Speaker 3: I don't know, child, right, I was just thinking that.
Speaker 3: I was like, okay, I want by December thirty. First
Speaker 3: that Tiffany says, like, oh my gosh, I had Like
Speaker 3: I mean, I hang out my sisters all the time,
Speaker 3: but I intentionally had at least twelve sister lunch dates
Speaker 3: with my sisters this year. My friend Cabrell, who's one
Speaker 3: of my besties. Cabrel is definitely my fancy friend, and
Speaker 3: he has a list of places that he like. Cabrel's
Speaker 3: a foody, so he has this list called Tiffany Eats.
Speaker 3: So we will go and like to this really nice
Speaker 3: restaurant and eat good, honey, because leave it up to me.
Speaker 3: Your girl doesn't have a sophisticated pallet, at least not
Speaker 3: at first. But cabro be like, girl, we're not eating there.
Speaker 3: Get yourself together, like and so we have these amazing
Speaker 3: places that Cabra, I'm like, how did you find this place?
Speaker 3: So I told Cabrell, yo, I want it on the
Speaker 3: calendar once a month, on the calendar, like every third
Speaker 3: Thursday of the month that we go out to dinner
Speaker 3: or we choose a place off the Tiffany Eats list.
Speaker 3: Because you are liabily to get you are liable to
Speaker 3: get in a car with Cabrel and end up in
Speaker 3: Delaware and we live in New Jersey. Hat don't mind driving.
Speaker 3: You're like, wellhe are we gonna eat to them? I
Speaker 3: was taking Rhode Island. You're like, what, But it's always fabulous,
Speaker 3: it's always fun, it's always a time, honey. But that's
Speaker 3: also a financial choice because how much does that cost?
Speaker 3: What does that look like? Because we take it, we
Speaker 3: take turns treating each other. Like I pay for one dinner,
Speaker 3: he picks for the next dinner. So what does that
Speaker 3: look like? You know? And so but creating a community
Speaker 3: around you to share. I want to do this thing.
Speaker 3: I have something called Sunday Supper that I try to do.
Speaker 3: We used to do a monthly, but now I'm trying
Speaker 3: to do at least every other month. These are my family,
Speaker 3: my friends, my neighbors. I invite them to the house.
Speaker 3: I hire this amazing cook, chef Nishe that used to
Speaker 3: cook for Jarella and I when he was here. And
Speaker 3: Nisha will make food for Sunday Supper. And it's just
Speaker 3: literally like a mini Thanksgiving every other month. But that
Speaker 3: cost what does that look like? You know? So these
Speaker 3: are the things like you know, But as I have
Speaker 3: a Sunday Supper, group chat and we'll talk through it.
Speaker 3: Because building community around your hopes, goals and dreams hold
Speaker 3: you more accountable. So those are three things that will
Speaker 3: really help you to make your financial resolution stick. Is
Speaker 3: that you have to make it bigger than the resolution.
Speaker 3: One right, just for recap, because you know I'm a teacher.
Speaker 3: Plan do review one right, identify your December thirty first
Speaker 3: self and what they want holistically, and match the money
Speaker 3: to that. Two, get you some help a guide, whether
Speaker 3: it's made whole, my new book, whether it's this podcast
Speaker 3: someone or is a collection of someone that have accomplished
Speaker 3: the thing you want to accomplish, Let them help you
Speaker 3: through it, whether it's digitally or in person or whatever.
Speaker 3: And then three builds community around that life you want
Speaker 3: to live, that goal you want and so they can
Speaker 3: hold you accountable and you can keep them updated on
Speaker 3: your progress. Okay, well, hopefully that's a helpful, child, because
Speaker 3: when we check in December thirty first, honey, I want
Speaker 3: to be like I went here, I did this, I
Speaker 3: did Oh child, it's going to be a time. I
Speaker 3: can already tell. My sister Tracy has already coined it.
Speaker 3: She said, twenty twenty four is going to be a
Speaker 3: banner year. A banner year meaning an excellent year. My
Speaker 3: business is already cooking with grease. The budget is stas
Speaker 3: making coin already. We started the month of January off strong.
Speaker 3: My personal life is looking cute, kai like my family,
Speaker 3: my friends super connected, and yeah for the possibility of
Speaker 3: love again, don't ask me questions. I just said it
Speaker 3: because he'd be listening, hey anyway. And yeah, I just
Speaker 3: think twenty twenty four is going to be a banner year,
Speaker 3: and it can be for you too. But it's intentional.
Speaker 3: These things happen intentionally, especially when you're grown. All right.
Speaker 3: So this is from Nelly from ig Hi Mandy, hope
Speaker 3: you well girl. I'm here too, But that's okay because.
Speaker 1: We don't stop. Everyone's always like, hey, tell me and
Speaker 1: that girl.
Speaker 3: I wouldn't because you know best that this is a
Speaker 3: Mandy question. But either way, hey girl, I'm just saying, Hi, yeah, question.
Speaker 3: I'm looking to interview very soon for a new opportunity
Speaker 3: at my current company, different department. It would be a promotion,
Speaker 3: and I have most of the required skills, plus finish
Speaker 3: my master's in twenty twenty one. Go ahead, girl, How
Speaker 3: can I go about getting the absolute max amount of
Speaker 3: money since they that have access to my salary history. FYI,
Speaker 3: the range is up to one hundred and fifty six
Speaker 3: and I'm at one twenty three currently. They require a
Speaker 3: salary expectation entry. When I applied, I said one fifty
Speaker 3: just in case they negotiated me. Damn, let me know
Speaker 3: if you have any tips. Loving everything you're doing, Thanks, Nelly,
Speaker 3: this is a good question.
Speaker 2: What do I want to start saying?
Speaker 1: Hot and hair?
Speaker 3: I don't know why. Oh no, let's do it again
Speaker 3: hot in here, So make sure you get all your coint.
Speaker 1: Okay right anyway, listen, Nellie. First of all, congratulations, because
Speaker 1: I feel like this is a really exciting opportunity and
Speaker 1: to work at a company where you can apply to
Speaker 1: another department, it's awesome. And I feel like when people
Speaker 1: think about quitting a role for a new opportunity, you
Speaker 1: sometimes think like you have to go outside the company.
Speaker 1: But I'm a huge fan of pivoting in place, like
Speaker 1: that's what I call it. When you find a growth
Speaker 1: opportunity right where you are, and your mindset is really
Speaker 1: important here and this is the thing where you know
Speaker 1: what you make and you're kind of letting that kind
Speaker 1: of get to you a little bit. I would treat
Speaker 1: this new department like another company. So anything that you
Speaker 1: would do if you were interviewing for an outside company,
Speaker 1: I would do, you know, I would go in there
Speaker 1: strong and establish, you know, your credentials and how excited
Speaker 1: you are for the opportunity. You've already mentioned a salary
Speaker 1: at least it was a sort of the top of
Speaker 1: the range. You mentioned one fifty. I typically would have said,
Speaker 1: you know, put you know competitive, or put zero or
Speaker 1: put one dollar, whatever it is in the field, so
Speaker 1: that you don't have to necessarily name a number. But
Speaker 1: I think that you should go in there definitely expecting
Speaker 1: to get paid what the value of the job is,
Speaker 1: especially if it is a promotion. You have most of
Speaker 1: the skills, like you said, and you now have a
Speaker 1: master's degree. So if you were thinking about the salary
Speaker 1: that you have now holding you back, this is a
Speaker 1: whole different job. You know, it's a step up, probably
Speaker 1: more responsibility. What may help you feel more confident going
Speaker 1: in and asking for your value is to find comparable
Speaker 1: roles at comparable companies. Those are the two comps. You
Speaker 1: want to have similar company and a similar role and
Speaker 1: see what types of salaries they're offering as well, and
Speaker 1: then again think of them as an outside employer who
Speaker 1: doesn't necessarily know your current salary, and negotiate from that space.
Speaker 1: It's not about what you're earning now, it's about the
Speaker 1: market value. Excuse me. It's about the market value of
Speaker 1: a candidate for this specific role that you're applying for.
Speaker 1: So don't go in there thinking one twenty three vibes.
Speaker 1: Think one fifty six. Okay, think hi. And you also
Speaker 1: know that you're not probably just making one twenty three.
Speaker 1: You also have to factor in your annual bonus on
Speaker 1: top of that, you know, so don't forget that you
Speaker 1: can still negotiate those types of things like your annual
Speaker 1: bonus amount. If they offer you equity at your company,
Speaker 1: you should still feel confident negotiating equity when you get
Speaker 1: to that point, like you've just applied now and you
Speaker 1: put in your salary expectation, which is cool. Now, the
Speaker 1: key is everything that's going to happen before the negotiation,
Speaker 1: which is you really want to make them excited to
Speaker 1: hire you. You already know the company, but what other
Speaker 1: strengths do you bring to the table, Like how well,
Speaker 1: do you understand the challenges the pain points of the
Speaker 1: team that you're joining. Do you have any connections on
Speaker 1: that team already that you can build on those relationships.
Speaker 1: You want them to think of you as a no brainer,
Speaker 1: you know, so that by the time you get to
Speaker 1: the negotiation or the offer stage, they want you so
Speaker 1: bad that when you come back to them and like, hey,
Speaker 1: one forty is cute, but what about one fifty six,
Speaker 1: that they're like, Okay, we really want Nelly, you know,
Speaker 1: so let's make this happen. That's essential for you at
Speaker 1: this point. But before you get there, you got to
Speaker 1: get your mindset right around. This is a whole different employer,
Speaker 1: even though it's with the same company, whole different team.
Speaker 1: You're not in the same role that you have now,
Speaker 1: You're not making one twenty three in this new role,
Speaker 1: it's a whole different ballgame. So start to think that
Speaker 1: way and don't get in your own way.
Speaker 3: I like that, And I'm just like as someone who
Speaker 3: employees and oftentimes typically will promote promote from within, you know,
Speaker 3: I like most employees employers are going to want to
Speaker 3: look within if someone is good, because it's like, you
Speaker 3: don't have to learn the company culture. I don't have
Speaker 3: to like kind of talk talk to you about like
Speaker 3: and teach you about what we do here. So know that,
Speaker 3: like that's a benefit, you know, to be able, you know,
Speaker 3: to looking to work internally. But also sometimes the problem
Speaker 3: is is like the prodigal son, right, the person who
Speaker 3: leaves and comes that gets like better treatment than the
Speaker 3: person who stayed. So don't be afraid either to like
Speaker 3: be like they seeming like they you know, they treat
Speaker 3: me like old news. Maybe I need to be made
Speaker 3: kneel again, you know, so if you're needing, if you
Speaker 3: wanted to make more, consider that too. But I just
Speaker 3: say this that I have people on my team that
Speaker 3: are just so excellent, Like are you bringing obvious excellence
Speaker 3: to the table, not just your your doing well, but
Speaker 3: you're visibly doing well. You know, there are people who
Speaker 3: like even now, there's a woman on one of my
Speaker 3: teams that I want to bring on over to the Bunjanista.
Speaker 3: She's on the Literature Academy team. Shout out to you
Speaker 3: a key, Shagar, we come and get you. She's amazing, Like,
Speaker 3: you know, it just started with you know, us contracting
Speaker 3: her to do a few things here and there, and
Speaker 3: I was just blown away about what she delivered. Logan
Speaker 3: was like, what we got to do to get her?
Speaker 3: You know? And she do project management, but she's just excellent.
Speaker 3: She's one of those people that, like, you know it
Speaker 3: just is going to see the thing all the way through.
Speaker 3: A Keisha works really hard but also smart and strategically.
Speaker 3: She's like a great team player, easy to get along with.
Speaker 3: She project managed project So her first project management thing
Speaker 3: that I had her do was she helped me with
Speaker 3: the with Get Go with Money launch. That was a
Speaker 3: huge project to try and trust to someone and it
Speaker 3: was like fifteen of us working on Get Go with
Speaker 3: Money and it was getting to be overwhelming for me
Speaker 3: to manage everyone. So I said, I heard through the
Speaker 3: grape vine because we used to have our league chats
Speaker 3: when I was the CEO of the Academy. I heard
Speaker 3: through the grapevine that a Kesha was interested in project
Speaker 3: management and just wanted to test it down. I said, well,
Speaker 3: I have a huge test for you. Try get good
Speaker 3: Money on the budgetista signe. And she was like, are
Speaker 3: you sure? I said, one all eleven people on the
Speaker 3: Gate Goes Money team are hard workers. So the project
Speaker 3: management component is not. You don't have to manage and
Speaker 3: motivate them. These are great people. I cherry picked everyone
Speaker 3: on the team, so that was one. You just have
Speaker 3: to keep us all organized. And she was excellent, and
Speaker 3: I was like, hold on, I want to keyscha for myself.
Speaker 3: So me and Tam had to tussle, like oh a
Speaker 3: good tussle. I won, and so yeah, so I'll be
Speaker 3: making her I mean, I don't even know if I
Speaker 3: kesa listen, but yeah, girl, I'll be making your offer
Speaker 3: soon because we talked about it already. But I'm just
Speaker 3: saying all that to say, when you are excellent, a
Speaker 3: space is always made for you at the table. So
Speaker 3: I'm sure you're bringing excellence to the table in an
Speaker 3: obvious way because it'll make people say we cannot lose
Speaker 3: you know, Nelly so good.
Speaker 1: That's such a perfect point to make. Yeah. I talked
Speaker 1: to a coaching client this morning, all the way in Australia,
Speaker 1: shout out to Nicole. It was ten thirty her time,
Speaker 1: ten thirty a m My time, and she's going through
Speaker 1: a similar thing. She's applying for a senior role at
Speaker 1: her company, and I had to remind her how incredibly
Speaker 1: beneficial it is that people already know her, like she
Speaker 1: has brand recognition exactly where she is, and she I
Speaker 1: feel like sometimes we take ourselves for granted at work
Speaker 1: and we forget like we don't or no one tells us.
Speaker 1: But there's so much value in having a great reputation
Speaker 1: colleagues wanting to work with you, that you can teach skills,
Speaker 1: you can teach how to do this, how to do
Speaker 1: that to a certain extent. Right, So if you're meeting
Speaker 1: most of the qualifications on all of them and people
Speaker 1: know and love you and will vouch for you, and
Speaker 1: you know endorse you, that is so key, and that
Speaker 1: gives you such a huge advantage over external candidates. So yeah,
Speaker 1: it's just about building your own confidence, Nelly, in that
Speaker 1: you have a lot going for you already understanding the
Speaker 1: inner workings of this company. And even though I want
Speaker 1: to know like twelve thousand more things about the situation,
Speaker 1: I just want you to go in again feeling strong.
Speaker 1: And to Tiffany's point about sometimes if you are missing
Speaker 1: out on opportunities and you're not being valued where you are,
Speaker 1: because that unfortunately is often the case, use this as
Speaker 1: a litmus test to see Okay, do I have growth
Speaker 1: potential at this company? And if this promotion does not
Speaker 1: work out or you don't get the support that you
Speaker 1: feel like you need, well at least you explore that option.
Speaker 1: And you should feel nose bounce of guilt for looking
Speaker 1: outside of the company, you know, for new opportunities. Sometimes
Speaker 1: they got to really fear losing you to really respect
Speaker 1: and value you, which is unfortunate. But it's up to
Speaker 1: you to you know, assert your value in that way.
Speaker 1: So I hope this works out for you. But I'm
Speaker 1: just saying, even if it don't, there's other paths ahead
Speaker 1: of you as well, and they don't have to be
Speaker 1: you know, feeling stuff. We're stagnant where you currently.
Speaker 3: Are, and we're back and blacker than ever. This is
Speaker 3: from as Merelda. Okay, remember Hunchback of Notre Dame but
Speaker 3: Disney movie. It was not that great anyway, but as
Speaker 3: Morelda was the part that Demi Moore played.
Speaker 1: What I just sorry I was. I thought I was
Speaker 1: gonna sneeze.
Speaker 2: What are you talking about?
Speaker 3: No, I said, remember the Hunchback of Notre Dame. It
Speaker 3: was a Disney I mean, it's a real thing, but
Speaker 3: also it was a Disney movie. They had turned it
Speaker 3: into a Disney movie. And so anyway, as Morelda was
Speaker 3: like the character that Demi Moore played. She was like
Speaker 3: a gypsy. Anyway, I don't know. I'm just saying this.
Speaker 3: This lady's name is as Moreldo. As Morelda hit us
Speaker 3: up on She said, hello, I've got a question for
Speaker 3: b a QA. Please keep me anonymous or called me
Speaker 3: as Merelda, and I'm saying we call you as moreth.
Speaker 3: The girl as Morella said, I worked for a bank
Speaker 3: and recently received a reduction in force noticed due to
Speaker 3: my location. I was given sixty days to find another
Speaker 3: internal role as the bank is focusing on other cities
Speaker 3: for their hubs. I was never asked to move. They
Speaker 3: have asked me to sign a release, a release of
Speaker 3: claims to get a severance package. What does that mean?
Speaker 3: A release of claims.
Speaker 1: Basically like we it's where you agree that you won't
Speaker 1: try to claim that they owe you more money or
Speaker 1: that you know it would use wrongful termination. Like basically
Speaker 1: what you can't you take away your power to sue
Speaker 1: them or you know further any negotiations, and that in
Speaker 1: exchange for that you will get some severance.
Speaker 3: Okay, she said, I have several questions. Can you explain
Speaker 3: what a release of claims for health anyway? What relas
Speaker 3: of claims for a severence package means at a high
Speaker 3: level done Before getting the reduction in force, I was
Speaker 3: planning on taking a short term disability leave, but delayed it.
Speaker 3: It now not doing so sooner. However, I did end
Speaker 3: up submitting a claim and it got approved just before
Speaker 3: my termination date, so at least I don't have to
Speaker 3: work during this period and still get one hundred percent salary.
Speaker 3: I applied for an internal role before getting the release
Speaker 3: of the reduction in force and had an interview that
Speaker 3: went really well. If I get an offer, I can
Speaker 3: stay with the company. My question is how can I
Speaker 3: try to negotiate for a higher salary given my situation.
Speaker 3: I realized I don't have much leverage, but I am
Speaker 3: considering leaving the company because I have enough savings to
Speaker 3: cover me for months and I need to focus on
Speaker 3: my health. This is a lot to process. Any thoughts
Speaker 3: and advice are greatly appreciated. You two are the best.
Speaker 1: Who has MADA. Yeah, this is well, there's a lot
Speaker 1: going on here.
Speaker 3: One.
Speaker 1: I'm glad that you were able to take advantage of
Speaker 1: your disability leave, even if it's not probably as much
Speaker 1: time as you wanted. Like you said, you have sixty days,
Speaker 1: so some chunk of that you're going to be able
Speaker 1: to take your leave, and then I hope you can
Speaker 1: focus on your mental health. I'm excited to hear that.
Speaker 1: I'm happy and relieved to hear that you do have
Speaker 1: some savings to cover you for several months in the
Speaker 1: event that you just want to focus on your health,
Speaker 1: which it sounds like you might, you know, need to,
Speaker 1: and that perhaps this is like a bit of a
Speaker 1: blessing in disguise that this has happened. But that being said,
Speaker 1: like if we take a part, if take away the
Speaker 1: need for like disability leave from mental health leave, just
Speaker 1: in general, like the whole like we're going to fire
Speaker 1: you in sixty days, so like here you go, do
Speaker 1: your best work for us still because we can like
Speaker 1: still fire you. And by the way, like sign this
Speaker 1: release for him, Like.
Speaker 2: I just it's annoying.
Speaker 1: I mean, in some ways it's nice to get a
Speaker 1: heads up, right. A common complaint for people who are
Speaker 1: let go is that it's like, Okay, tomorrow's your last day.
Speaker 1: Today's your last day. You got to go, and if
Speaker 1: you don't have any severance payment on top of that,
Speaker 1: it's like a huge slap in the face. So I
Speaker 1: would look really closely at your severance package. As a
Speaker 1: career coach, I love reading severance agreements. There's a lot
Speaker 1: to pick apart in a severance package. You want to
Speaker 1: look for things like non compete, Like you know, typically
Speaker 1: they'll have some language in there about whether or not
Speaker 1: they will have an issue if you move on to
Speaker 1: work for a competitor. It typically more applies to like
Speaker 1: senior positions, but not saying it doesn't exist. So I
Speaker 1: would look out for that. I would look out for
Speaker 1: what happens with your benefits, like you'll want to figure
Speaker 1: out your Cobra benefits and in your case, like even
Speaker 1: if you decide to take some time off in between roles,
Speaker 1: like having that healthcare coverage will be necessary for you,
Speaker 1: it sounds like, so you want to figure out when
Speaker 1: that all goes into effect and how much it's going
Speaker 1: to cost you to continue your benefits moving forward through Cobra.
Speaker 1: Any like if you have any equity in the company,
Speaker 1: any unvested stock, like what happens to that are you
Speaker 1: forfeiting it? Can you exercise any stock options or sell
Speaker 1: any RSUs before? What will happen to that those benefits
Speaker 1: if you do not, what will happen to your four
Speaker 1: to one K contributions? Any company matching? That'll all that
Speaker 1: should all be covered in your severance agreement. Let me
Speaker 1: see you can negotiate your severance like if if yeah,
Speaker 1: I mean for sure, Like there's always a case we made, Like,
Speaker 1: especially if their severance package doesn't fall in line with
Speaker 1: like industry standards, you can do. If it's a pretty
Speaker 1: big bank, then it's very likely that there are news
Speaker 1: reports of severance packages at similarly sized financial institutions. And
Speaker 1: I have helped even my brother, you know, make a
Speaker 1: case for more severance. And in his case, I was like,
Speaker 1: be sure to compare comparable sized companies in the industry
Speaker 1: and what their severance was.
Speaker 3: How do you find it?
Speaker 1: So news reports are really helpful. Also, sometimes if it's
Speaker 1: a public company, they have to put that kind of
Speaker 1: information into their quarterly earnings reports. Okay, so you may
Speaker 1: find yeah, but typically it's a lot easier to do
Speaker 1: if you work for a company that is like being
Speaker 1: reported on by you know, Business Insider by Bloomberg, by Reiters,
Speaker 1: whatever these news sites are. But if in the event
Speaker 1: that you're not, like my brother worked for a smaller
Speaker 1: sort of startup. It was less than fifty employees, and
Speaker 1: he collected information from like peers. So he had friends
Speaker 1: working at other companies like that he'd met through his
Speaker 1: work that he could check in with and ask because
Speaker 1: at the time, this was like the great tech layoffs
Speaker 1: of twenty twenty three or yeah, twenty twenty three that
Speaker 1: he was impacted by. So there, unfortunately were other layoffs
Speaker 1: that he could compare himself to. Well else can I say, oh,
Speaker 1: so the internal role? Okay, so how can you negotiate
Speaker 1: for an internal role a higher salary given your situation? Well,
Speaker 1: it's a reduction in force, so hopefully like that it
Speaker 1: doesn't reflect on and it sounds like it's location based,
Speaker 1: you know, it doesn't probably reflect on your particular like
Speaker 1: job skills or your contributions. So I would I wouldn't
Speaker 1: let that, you know, get you down. Like I don't
Speaker 1: even know if at an internal level, is the company
Speaker 1: so big does do they even know about this production
Speaker 1: and force? Or is it just impacting your team? Sometimes
Speaker 1: companies are so big and so global, you don't know
Speaker 1: what's happening in like you know, Tucson's office versus what's
Speaker 1: happening in like Boston's office. Like it can all be
Speaker 1: very like siloed, so that will depend. And if it's
Speaker 1: the case that they are not that aware of it,
Speaker 1: like I wouldn't highlight it for sure. But always, the
Speaker 1: best way to negotiate for a higher salary, including this situation,
Speaker 1: is to be looking for other opportunities so you can
Speaker 1: potentially have competing offers. Clearly, your current company, like your
Speaker 1: current salary isn't as much of a competitive like a
Speaker 1: competing offer because you both have an expiration date on
Speaker 1: when that salary is going to be over. But if
Speaker 1: you're able to go out in the job market, do
Speaker 1: some interviews, you don't even need like a hard offer letter,
Speaker 1: but at least the ability to say that I am
Speaker 1: in talks with a couple, excuse me, one or two
Speaker 1: other companies, and there are compensation packages they start at
Speaker 1: X amount of money. That can give you a jumping
Speaker 1: off point for a negotiation. Doesn't mean that it's going
Speaker 1: to be successful, but that's always my go to tip
Speaker 1: is the best thing you can do is to get
Speaker 1: competing offers. And if this sounds way too exhausting for
Speaker 1: you and you just want some time off, then I
Speaker 1: would say use those savings. That's what it's for, but
Speaker 1: obviously have a bounce back plan from when you want
Speaker 1: to get back in the job market.
Speaker 3: Yeah. Do you think like Harod being on disability for
Speaker 3: a little while it is going to help, it's going
Speaker 3: to hurt her own chances in the market, Well nobody.
Speaker 1: Well, I mean, you can spend your disability what however
Speaker 1: you want, like I got. I have definitely had mandy
Speaker 1: money makers who have taken advantage of like taking a
Speaker 1: short term mental health leave, medical leave, whatever, because they
Speaker 1: got approved by their mental health practitioner. And I'm not
Speaker 1: trying to like put like I don't think she even
Speaker 1: said it was mental health related, or maybe she did,
Speaker 1: I forget, But anyway, but then you can do with
Speaker 1: that time what you want to do. So it can
Speaker 1: be job searching, it can be you know, laying around
Speaker 1: and just getting some good sleep and talking to your
Speaker 1: doctors and all of that. But no, it shouldn't necessarily hurt.
Speaker 1: I mean, I wouldn't go out of your way to
Speaker 1: mention that in a job interview, you can just say,
Speaker 1: you know, I'm taking a bit of a break right
Speaker 1: now to like, you know, sus out my options and
Speaker 1: I plan to you know, make a move here soon.
Speaker 1: And it's again about owning the narrative, like just own
Speaker 1: the story. Like I work tire for X number of
Speaker 1: years and I realized that I needed to spend some
Speaker 1: more time focusing on X, Y Z and I'm but
Speaker 1: at the same time, I'm very excited about what I
Speaker 1: could contribute to your company and what I can bring
Speaker 1: to the role. And just kind of say it with
Speaker 1: your full chest and don't apologize for it. Just own
Speaker 1: it and that can go a long way. Okay, all right,
Speaker 1: This question is from Regina from ig y'all can hit
Speaker 1: us Hit me up Brown Ambition Podcast on Instagram if
Speaker 1: you want to have your question answered on the show.
Speaker 1: Also Brown Ambition Podcast at gmail dot com. All right,
Speaker 1: Regina says, Hey, love all the content y'all do. I
Speaker 1: have been following y'all for a few years now. My
Speaker 1: question is that I have a four oh one K
Speaker 1: from a previous employer still sitting with the original brokerage.
Speaker 1: I opened it in when I worked there, which is
Speaker 1: t I AA. I am now with a new employer
Speaker 1: and I have a four oh one K through that
Speaker 1: employer through a different brokerage, which is Fidelity. Now I
Speaker 1: realize I should roll my original four one K into
Speaker 1: an IRA for ease. Should I just roll it over
Speaker 1: to my new brokerage? If I do this and then
Speaker 1: end up with another employer later in life at another brokerage,
Speaker 1: would I then be able to roll both my IRA
Speaker 1: and current active four one K over I would imagine
Speaker 1: I'd want to keep them together just so I don't
Speaker 1: forget where my money is. Lol. Thank you so much
Speaker 1: for your thoughts, and no, I won't sue my brown besties.
Speaker 3: Thank you, Regina.
Speaker 1: Regina's got her solid shakererow Ginos. Okay, but this is
Speaker 1: a great question, Regina, and I think your instinct is important,
Speaker 1: which is like for you, you would want to keep
Speaker 1: them together because you worry that you might forget where
Speaker 1: your money is. And that is a real concern here,
Speaker 1: right is if you have accounts in all different places,
Speaker 1: life is going to life. You may have several jobs
Speaker 1: over the rest of your career, and it can it
Speaker 1: doesn't seem like it's you know possible, but it is
Speaker 1: very possible to forget that you have some money left over.
Speaker 1: I myself have like fifteen hundred dollars or something like
Speaker 1: that saved in a four to oh one K that's
Speaker 1: now been rolled over into an IRA from a previous employer,
Speaker 1: and I still have not got around because every time
Speaker 1: I think about it, I'm like, yeah, I gotta do that,
Speaker 1: and then I just don't do it because I go
Speaker 1: to log in and I don't know my password, and
Speaker 1: I'm like, oh, I'll come back another time. And it's just,
Speaker 1: you know, it's a little bit there's friction there. It's
Speaker 1: not so simple. It still like takes effort to do
Speaker 1: it right. So and I'm like, well, it's not going anywhere.
Speaker 1: But what if I forget I had this fifteen hundred dollars.
Speaker 1: It's that's not a lot of it's not a little
Speaker 1: bit of money, you know, So we don't want that
Speaker 1: to happen, right, So if you think you may be
Speaker 1: inclined to forget, it may make a lot of sense
Speaker 1: to just take your previous employer's for one K and
Speaker 1: roll it over into an IRA that you you own,
Speaker 1: and then make that IRA your destination. For any future
Speaker 1: for a one K rollovers okay. So that means if
Speaker 1: you leave the job that you have now and you
Speaker 1: want to move your four to one K out of
Speaker 1: that Fidelity account, you already have this IRA opened with
Speaker 1: that that has your previous four one K already rolled over,
Speaker 1: and then you can just add that and then open
Speaker 1: up your new four to one K wherever your employer
Speaker 1: has their partnership with. Another reason it's great to roll
Speaker 1: it over is because your four one K through your
Speaker 1: employer it may not have all of the investing options
Speaker 1: that you want. They may have very limited funds, or
Speaker 1: the funds that they do have maybe more expensive than
Speaker 1: what you can find opening your own brokerage account like
Speaker 1: through a Vanguard or a Schwab. The good news is
Speaker 1: that I mean Fidelity TIAA. These are both platforms that
Speaker 1: should have a wealth of options for investing and low
Speaker 1: cost investments as well, So you could be good, you know,
Speaker 1: just keeping your money parked there in that account. But
Speaker 1: let's say the other side of this is, okay, I
Speaker 1: don't want to open an iray, even if I do
Speaker 1: designate that as my four to one K rollover pot
Speaker 1: for the rest of my career. I would rather just
Speaker 1: take my four to one K from my previous employer
Speaker 1: and roll it over to this new four oh one
Speaker 1: K at Fidelity. You can absolutely do that too. That
Speaker 1: takes a couple of like cons out of the equation.
Speaker 1: It means that you won't have to keep track of
Speaker 1: that four one K rollover I ray that you would open,
Speaker 1: and it just sort of gives you something to pick
Speaker 1: It gives you something to build on through your four
Speaker 1: to one K at your new company. So those are
Speaker 1: a couple of pros. But for me, it's really which
Speaker 1: option is going to work better for you. The simplest,
Speaker 1: which means, like I can just do one thing and
Speaker 1: kind of get this ticked off and I know that
Speaker 1: I'm not losing or keep losing track of the money
Speaker 1: that I have, is just to go ahead and roll
Speaker 1: that for a one K. Tell TIAA, here's where you
Speaker 1: can send my money. They'll roll it directly into your
Speaker 1: new employer provided for a one K, and you can
Speaker 1: keep it moving. You can keep doing that for the
Speaker 1: next job and the next job and the next job,
Speaker 1: and you have this like snowball of four one K
Speaker 1: balances that you're moving over. But it can't hurt to
Speaker 1: take a couple of extra steps to say, Okay, long term,
Speaker 1: maybe I should have my individual brokerage where I can
Speaker 1: roll these accounts over into and I can control what
Speaker 1: types of investing options I have. There's no bad answer here,
Speaker 1: there's just slight differences. And at the end of the day,
Speaker 1: it's up to you and what you're willing to do,
Speaker 1: how much work you're willing to put in, and how
Speaker 1: much effort, and it's yeah.
Speaker 2: It's up to you.
Speaker 1: But that's a great question, Regina, and thank you so
Speaker 1: much for sending that Again. You can hit us up
Speaker 1: Brown Ambition Podcast at gmail dot com or us a
Speaker 1: DM at Brand Ambition Podcast on Instagram if you want
Speaker 1: to have your question featured on the show. Until next time, bye,