1 00:00:16,840 --> 00:00:23,600 Speaker 1: Hey, hey, hey, we're back and I'm black and we're brown. 2 00:00:25,560 --> 00:00:26,920 Speaker 2: I missed you last week. 3 00:00:27,360 --> 00:00:28,880 Speaker 3: I know I missed you too. 4 00:00:28,920 --> 00:00:31,200 Speaker 1: I was like, am I doing Mandra Proud doing this 5 00:00:31,280 --> 00:00:32,080 Speaker 1: interview solo? 6 00:00:32,159 --> 00:00:32,440 Speaker 3: Nola? 7 00:00:32,720 --> 00:00:35,920 Speaker 2: Tila try to take my job? No? 8 00:00:36,000 --> 00:00:38,560 Speaker 3: Yeah, Tula was fun. She was she was awesome. Forget 9 00:00:38,560 --> 00:00:40,239 Speaker 3: about to you. I guess his birthdays tomorrow? 10 00:00:40,560 --> 00:00:45,879 Speaker 2: Oh she famous presidents in her time. No, Beyonce was 11 00:00:45,880 --> 00:00:48,680 Speaker 2: a September birthday. I can't think of anyone special. 12 00:00:50,159 --> 00:00:52,240 Speaker 3: It's not why is it? Like? What is your birthday? 13 00:00:52,280 --> 00:00:53,559 Speaker 3: Like You're like, I don't care, and then when it 14 00:00:53,600 --> 00:00:55,160 Speaker 3: gets to You're like I do, I do? I do care? 15 00:00:55,280 --> 00:01:00,319 Speaker 1: Right, it's my birthday. I don't know why exp I'm 16 00:01:00,320 --> 00:01:02,720 Speaker 1: not going anywhere, but I will say I just got 17 00:01:02,720 --> 00:01:05,440 Speaker 1: back from Mexico for like a retreat where I spoke 18 00:01:05,880 --> 00:01:09,000 Speaker 1: and it was it got like a birthday trip because 19 00:01:09,000 --> 00:01:11,319 Speaker 1: it was three days and the most beautiful isor I'd 20 00:01:11,319 --> 00:01:13,120 Speaker 1: ever been in. So I'm like, you know what, I 21 00:01:13,120 --> 00:01:15,319 Speaker 1: went away for my birthday unofficially, So. 22 00:01:15,400 --> 00:01:19,080 Speaker 2: Happy early birthday? Yeah, I thank yeah? So are you 23 00:01:19,120 --> 00:01:22,640 Speaker 2: just keeping a low key. 24 00:01:21,760 --> 00:01:23,840 Speaker 3: I don't know. I don't know what Superman has planned. 25 00:01:25,400 --> 00:01:26,880 Speaker 3: I don't know. We were supposed to go to a spot, 26 00:01:26,959 --> 00:01:28,560 Speaker 3: but I don't know. I don't know. We'll see he 27 00:01:28,640 --> 00:01:29,160 Speaker 3: has planned. 28 00:01:29,280 --> 00:01:30,920 Speaker 1: I told him he doesn't have to go crazy because 29 00:01:30,959 --> 00:01:33,720 Speaker 1: quite honestly, you know, just trying to get the house 30 00:01:33,760 --> 00:01:34,880 Speaker 1: done at this point, you know. 31 00:01:35,400 --> 00:01:37,120 Speaker 2: Yeah, But is it really like that or is it 32 00:01:37,160 --> 00:01:39,200 Speaker 2: like if he doesn't do something, you're going to resent him, 33 00:01:39,319 --> 00:01:41,120 Speaker 2: because that's how I usually am. I'm like, oh, I 34 00:01:41,120 --> 00:01:43,920 Speaker 2: don't want anything special, but if you don't do something like. 35 00:01:44,080 --> 00:01:46,520 Speaker 1: I just want something like you know, like honestly one 36 00:01:46,520 --> 00:01:48,000 Speaker 1: thing that I do enjoyed, Like I think one year 37 00:01:48,000 --> 00:01:50,320 Speaker 1: we went to a comedy club or comedy that was fun. 38 00:01:51,440 --> 00:01:54,560 Speaker 1: So I feel like I would love like something like that, 39 00:01:54,640 --> 00:01:57,200 Speaker 1: something fun and dinner, and honestly, I feel like that 40 00:01:57,240 --> 00:01:58,200 Speaker 1: would be more than enough. 41 00:01:59,160 --> 00:02:01,400 Speaker 2: I feel you on like the we've already had the 42 00:02:01,400 --> 00:02:04,000 Speaker 2: conversation about Christmas time, and I'm like, so you're cool 43 00:02:04,040 --> 00:02:08,040 Speaker 2: with no presents, right because there's this house I know, 44 00:02:09,240 --> 00:02:11,280 Speaker 2: or can we get a couch for Christmas? Because we 45 00:02:11,360 --> 00:02:12,760 Speaker 2: probably are going to need one of those? 46 00:02:13,440 --> 00:02:14,560 Speaker 3: And that's honestly how I feel. 47 00:02:14,600 --> 00:02:17,119 Speaker 1: I'm like, eh, I'm not you know, there's no big 48 00:02:17,160 --> 00:02:19,400 Speaker 1: because I was even saying, you know, you know, I 49 00:02:19,400 --> 00:02:20,840 Speaker 1: think it's kind of time for you to get a car. 50 00:02:20,919 --> 00:02:22,320 Speaker 3: He's like, let's wait. 51 00:02:22,320 --> 00:02:26,080 Speaker 1: Until after all of this because like his car is 52 00:02:26,120 --> 00:02:28,160 Speaker 1: like on its last wheel. 53 00:02:28,720 --> 00:02:31,040 Speaker 3: And he's like, yeah, but well, where we live is 54 00:02:31,120 --> 00:02:32,119 Speaker 3: like where we live now. 55 00:02:32,160 --> 00:02:35,160 Speaker 1: He works like right here, so he's kind of like, 56 00:02:35,320 --> 00:02:37,600 Speaker 1: I don't drive that much. Let's just get the house done. 57 00:02:38,400 --> 00:02:40,640 Speaker 1: And every time I go to the house, I'm like, Justin, 58 00:02:40,800 --> 00:02:43,280 Speaker 1: so I'm working. I would say I love my contractor. 59 00:02:43,320 --> 00:02:48,640 Speaker 1: He's amazing. His name is Justin, and first all, it's 60 00:02:48,639 --> 00:02:51,280 Speaker 1: funny because whenever I put him on social media, all 61 00:02:51,320 --> 00:02:57,480 Speaker 1: you hear me say is Justin. But he's West Indian honestly, 62 00:02:57,560 --> 00:02:59,840 Speaker 1: and Justin is like the best because he's really like 63 00:03:00,440 --> 00:03:03,120 Speaker 1: what I like about his personality is so easygoing. So 64 00:03:03,160 --> 00:03:05,359 Speaker 1: I'm like, Justin, I don't know Justin way. I don't 65 00:03:05,400 --> 00:03:07,440 Speaker 1: like the windows like that. Justin the bathroom's so small, 66 00:03:07,639 --> 00:03:11,799 Speaker 1: you know, he takes everything astride. I'm like, Justin, you 67 00:03:11,880 --> 00:03:13,919 Speaker 1: must have sisters. He's like, I have two. I'm like, oh, 68 00:03:14,040 --> 00:03:15,160 Speaker 1: he's trained you well. 69 00:03:15,480 --> 00:03:16,800 Speaker 3: So he's awesome. 70 00:03:16,880 --> 00:03:22,200 Speaker 1: His company is called Build Team Construction. Honestly, he's I'm 71 00:03:22,240 --> 00:03:24,040 Speaker 1: really fortunate because you know, we remember we I think 72 00:03:24,080 --> 00:03:24,880 Speaker 1: we both interviewed it. 73 00:03:25,000 --> 00:03:26,239 Speaker 3: Did you interview a bunch of people? 74 00:03:26,720 --> 00:03:29,680 Speaker 2: We got quotes from three different contractors and we ended 75 00:03:29,760 --> 00:03:32,960 Speaker 2: up going with the most amazing person ever. His name's Javier, 76 00:03:33,080 --> 00:03:35,240 Speaker 2: but yeah, we did. We did quotes and then we 77 00:03:35,280 --> 00:03:37,600 Speaker 2: finally settled on Hovier, who wasn't the cheapest, but he 78 00:03:37,760 --> 00:03:38,680 Speaker 2: was the best choice. 79 00:03:39,040 --> 00:03:40,640 Speaker 3: Same thing, Justin was not the cheapest. 80 00:03:40,680 --> 00:03:42,480 Speaker 1: He was some place in the middle, but he was 81 00:03:42,560 --> 00:03:44,760 Speaker 1: just really a good choice because which you really want 82 00:03:44,800 --> 00:03:47,400 Speaker 1: someone who is going to listen to you but also 83 00:03:47,440 --> 00:03:52,320 Speaker 1: obviously going to give their professional opinion. And there were 84 00:03:52,360 --> 00:03:55,600 Speaker 1: just some like there's always unexpected things like one of them, 85 00:03:55,680 --> 00:03:56,280 Speaker 1: like the stack. 86 00:03:56,480 --> 00:03:59,520 Speaker 3: I'm learning so much about plumbing. I'm like, wait, what right. 87 00:03:59,600 --> 00:04:00,800 Speaker 1: He's like, we had to take all this out. You 88 00:04:00,840 --> 00:04:02,600 Speaker 1: see this corrosion. I'm like, what does that mean? Justin, 89 00:04:02,640 --> 00:04:03,360 Speaker 1: That's what I told them to. 90 00:04:03,360 --> 00:04:05,440 Speaker 2: That it means money, right exactly. 91 00:04:05,480 --> 00:04:07,960 Speaker 4: I'm like, Justin, what are you showing me these scraps for. 92 00:04:08,960 --> 00:04:09,880 Speaker 3: He's like, I'm just. 93 00:04:09,880 --> 00:04:12,920 Speaker 1: Letting you know, because we're we're the basement's getting redone, 94 00:04:12,920 --> 00:04:14,920 Speaker 1: and I guess the basement us to flood a little, 95 00:04:14,920 --> 00:04:20,280 Speaker 1: so we're getting a French strain. Yeah, it's like you 96 00:04:20,320 --> 00:04:23,760 Speaker 1: do like a trench around the inside perimeter of the 97 00:04:24,279 --> 00:04:27,520 Speaker 1: of the basement, and so like in the trench you 98 00:04:27,600 --> 00:04:31,760 Speaker 1: put like a big huge hose and so if water 99 00:04:31,880 --> 00:04:34,400 Speaker 1: tries to come in, it kind of goes to the hole. 100 00:04:34,480 --> 00:04:36,960 Speaker 1: It's almost like having what's the you know, like the 101 00:04:36,960 --> 00:04:39,040 Speaker 1: gutters that the leaves fall into, like on the outside 102 00:04:39,040 --> 00:04:40,800 Speaker 1: of the house. It's like having that inside the house 103 00:04:40,880 --> 00:04:43,279 Speaker 1: but in the ground, so that way the water doesn't 104 00:04:43,279 --> 00:04:45,640 Speaker 1: come into the basement. It comes into the hose, and 105 00:04:45,720 --> 00:04:48,479 Speaker 1: it like kind of like goes through the holes outside. Sure, 106 00:04:49,360 --> 00:04:52,279 Speaker 1: So but like that, I'm like, Justin was showing me 107 00:04:52,279 --> 00:04:55,360 Speaker 1: all these things like oh, Tiffany, we had to irrigate 108 00:04:55,400 --> 00:04:56,000 Speaker 1: the navigate. 109 00:04:56,240 --> 00:04:57,520 Speaker 4: I'm like, Justin, I. 110 00:04:57,279 --> 00:05:00,520 Speaker 1: Don't know what those were. Its mean, And I'm always 111 00:05:00,520 --> 00:05:04,000 Speaker 1: telling Justin, I'm not paying no more money. Justin I 112 00:05:04,040 --> 00:05:05,920 Speaker 1: went to you always laughed at I'm like, I don't 113 00:05:05,920 --> 00:05:10,960 Speaker 1: know what you're laughing for. No, but it's at least 114 00:05:10,960 --> 00:05:15,400 Speaker 1: it's coming along, which I'm happy about. So today I 115 00:05:15,440 --> 00:05:17,719 Speaker 1: went to go see speaking of like money and teams, 116 00:05:18,080 --> 00:05:21,160 Speaker 1: I went to go see Carlos, my accountant, and I 117 00:05:21,160 --> 00:05:24,440 Speaker 1: did my Q three like reports and taxes and IM 118 00:05:25,120 --> 00:05:27,719 Speaker 1: and today Carlos. It was kind of like last minute 119 00:05:28,360 --> 00:05:31,160 Speaker 1: as I was about to leave and I was telling Carlos, 120 00:05:31,160 --> 00:05:35,280 Speaker 1: I said, I don't understand why, because Carlos has instructed 121 00:05:35,279 --> 00:05:38,279 Speaker 1: me that, you know, to set aside thirty five percent 122 00:05:38,400 --> 00:05:40,400 Speaker 1: of like the income I get from the company in 123 00:05:40,440 --> 00:05:43,160 Speaker 1: my in an account for taxes. And I'm like, Carlos, 124 00:05:43,240 --> 00:05:47,400 Speaker 1: I never have like enough in my tax account based 125 00:05:47,440 --> 00:05:49,200 Speaker 1: upon like what you tell me I'm gonna owe. 126 00:05:50,200 --> 00:05:52,480 Speaker 3: Why is that? You know? So we were kind of going. 127 00:05:52,400 --> 00:05:54,080 Speaker 1: Through it, and I was like, it's so frustrating, I said, 128 00:05:54,080 --> 00:05:58,000 Speaker 1: because we don't like I have a three three come 129 00:05:58,080 --> 00:06:00,680 Speaker 1: well four with Brianna Bishon, so four companies, but with 130 00:06:01,160 --> 00:06:03,880 Speaker 1: the three I only really withdraw money from one of them, 131 00:06:03,920 --> 00:06:05,839 Speaker 1: the Academy, and the other two companies we really like 132 00:06:05,880 --> 00:06:08,840 Speaker 1: reinvest the money to grow or like sometimes we just 133 00:06:08,880 --> 00:06:10,359 Speaker 1: keep the money in there, like I have a business 134 00:06:10,400 --> 00:06:11,040 Speaker 1: partner with two. 135 00:06:10,920 --> 00:06:11,600 Speaker 3: Of my companies. 136 00:06:12,160 --> 00:06:16,320 Speaker 1: And I was like, so it seems unfair that if 137 00:06:16,320 --> 00:06:18,279 Speaker 1: I don't pull money out, why am I being texted 138 00:06:18,320 --> 00:06:20,080 Speaker 1: on it? And he was like, I'm like, is that 139 00:06:20,120 --> 00:06:22,839 Speaker 1: what people do like it, Like, I'm sure the you know, 140 00:06:22,880 --> 00:06:24,520 Speaker 1: what do people do at Amazon Apple? 141 00:06:24,560 --> 00:06:26,640 Speaker 3: Are they like getting taxed on a billion. 142 00:06:26,400 --> 00:06:28,159 Speaker 1: Dollars even if they don't make a billion dollars, like 143 00:06:28,160 --> 00:06:30,240 Speaker 1: take home a billion, you know? And he's like, no, 144 00:06:30,279 --> 00:06:32,840 Speaker 1: they're sea Corps. And I was like, do explain more. 145 00:06:33,080 --> 00:06:36,520 Speaker 1: And it didn't make sense before, but my company were. 146 00:06:36,880 --> 00:06:39,839 Speaker 1: They were an es corp and two of them still are. 147 00:06:40,240 --> 00:06:42,800 Speaker 1: But Carlos was sharing that the difference with an es 148 00:06:42,960 --> 00:06:48,360 Speaker 1: Corp is basically it's like a pass through still meaning 149 00:06:48,480 --> 00:06:51,720 Speaker 1: that let's just say my company makes one hundred thousand dollars, 150 00:06:52,400 --> 00:06:54,680 Speaker 1: then Tiffany makes a hundred thousand, whether I pull the 151 00:06:54,720 --> 00:06:57,799 Speaker 1: money out personally or not. But with the C corp 152 00:06:58,000 --> 00:07:01,200 Speaker 1: the benefit is and then that at our current tax rate, 153 00:07:01,240 --> 00:07:02,960 Speaker 1: we're about thirty five percent or something like that. That's 154 00:07:03,000 --> 00:07:04,960 Speaker 1: what our tax rate. My tax rate is now something 155 00:07:05,000 --> 00:07:10,239 Speaker 1: to that effect. But with the Sea Corp, the business itself, 156 00:07:10,280 --> 00:07:12,360 Speaker 1: this is based upon the new laws by our president. 157 00:07:12,760 --> 00:07:15,320 Speaker 1: The business itself is taxed at twenty one percent, which 158 00:07:15,360 --> 00:07:18,280 Speaker 1: honestly is criminally low. But this is like what he's 159 00:07:18,280 --> 00:07:21,480 Speaker 1: done that the business itself is taxed at twenty one percent, 160 00:07:21,520 --> 00:07:25,080 Speaker 1: and any money I pull out for Tiffany is a tax. 161 00:07:25,200 --> 00:07:27,960 Speaker 1: I have to pay tax at fifteen percent. So what's 162 00:07:28,000 --> 00:07:29,920 Speaker 1: great about it is is that if I have a 163 00:07:29,920 --> 00:07:32,280 Speaker 1: business that I'm not pulling money out of, I'm only 164 00:07:32,280 --> 00:07:34,280 Speaker 1: paying twenty one percent taxes. Well, the business is only 165 00:07:34,320 --> 00:07:36,760 Speaker 1: paying twenty one percent taxes, and I'm no longer paying 166 00:07:36,760 --> 00:07:39,320 Speaker 1: this extra tax for money I'm not receiving. So we 167 00:07:39,360 --> 00:07:41,280 Speaker 1: looked at the companies and realized that two of them 168 00:07:41,680 --> 00:07:43,880 Speaker 1: really should be sea corps because we're not me and 169 00:07:43,920 --> 00:07:46,640 Speaker 1: my business partner. One company's a Budgetista, which is just me. 170 00:07:46,760 --> 00:07:48,480 Speaker 1: The other company, I have a business partner, it's a 171 00:07:48,520 --> 00:07:51,160 Speaker 1: marketing company, and so we're not pulling money out and 172 00:07:51,200 --> 00:07:53,360 Speaker 1: I'm not pulling money out of Budgetista right now, it 173 00:07:53,360 --> 00:07:56,280 Speaker 1: makes sense to be a sea corp. And he redid 174 00:07:56,320 --> 00:07:58,960 Speaker 1: the numbers of what I have to pay for the 175 00:07:59,080 --> 00:08:03,040 Speaker 1: last two quarters of year. He does an estimate and 176 00:08:03,160 --> 00:08:04,960 Speaker 1: if you read the numbers, and I save one hundred 177 00:08:05,000 --> 00:08:05,720 Speaker 1: thousand dollars. 178 00:08:05,960 --> 00:08:08,440 Speaker 2: Damn. Wait a second, So why didn't he do this before? 179 00:08:09,240 --> 00:08:11,680 Speaker 1: Well because it didn't make sense before because before, well, one, 180 00:08:11,840 --> 00:08:13,960 Speaker 1: the marketing company is brand new, so there wasn't like, 181 00:08:14,000 --> 00:08:15,480 Speaker 1: so when I started it, it was just like, hey, 182 00:08:15,480 --> 00:08:18,160 Speaker 1: be a escorp, you know, which is like, you know, 183 00:08:18,280 --> 00:08:22,160 Speaker 1: makes sense because if your business is making over six figures, 184 00:08:22,200 --> 00:08:25,120 Speaker 1: it really start time to look from going to an 185 00:08:25,360 --> 00:08:27,320 Speaker 1: LLC to a escorp. Or some people go right into 186 00:08:27,360 --> 00:08:29,560 Speaker 1: a escorp, which is fine, but like if you're first 187 00:08:29,600 --> 00:08:31,840 Speaker 1: starting out, some people doing LLC, which is fine, but 188 00:08:32,200 --> 00:08:33,560 Speaker 1: if you start to make a little bit more money 189 00:08:33,559 --> 00:08:35,280 Speaker 1: and the escorp is going to make more sense because 190 00:08:35,400 --> 00:08:39,000 Speaker 1: there's self employment tax that you pay with LLC and 191 00:08:39,000 --> 00:08:41,319 Speaker 1: your account should be running the numbers for you consistently 192 00:08:41,400 --> 00:08:44,480 Speaker 1: to see where does it make sense? So I switched 193 00:08:44,480 --> 00:08:46,320 Speaker 1: from an es corp. I think, laugh from LLC to 194 00:08:46,360 --> 00:08:49,520 Speaker 1: an escorp last year or like two years ago because 195 00:08:49,559 --> 00:08:51,560 Speaker 1: it made sense and it saved me thirty thousand dollars 196 00:08:51,559 --> 00:08:52,160 Speaker 1: in taxes. 197 00:08:52,440 --> 00:08:53,600 Speaker 3: But this year. 198 00:08:53,840 --> 00:08:56,280 Speaker 4: The thing is, if you're pulling money out of your 199 00:08:56,280 --> 00:08:59,960 Speaker 4: company consistently and most of the money out, then being 200 00:09:00,080 --> 00:09:02,960 Speaker 4: an escorp makes sense because you get taxed one time 201 00:09:03,440 --> 00:09:06,520 Speaker 4: if you're not pulling money out, like you're not pulling 202 00:09:06,559 --> 00:09:08,599 Speaker 4: a significant amount of money in comparison to what the 203 00:09:08,960 --> 00:09:11,520 Speaker 4: company makes. So let's just say your company makes one 204 00:09:11,600 --> 00:09:13,920 Speaker 4: hundred thousand dollars and you're pulling out one hundred thousand. 205 00:09:14,000 --> 00:09:14,680 Speaker 3: Be an escorp. 206 00:09:14,880 --> 00:09:17,480 Speaker 1: If your company makes one hundred thousand and you're pulling 207 00:09:17,480 --> 00:09:19,720 Speaker 1: out twenty thousand and keeping the eighty thousand in the 208 00:09:19,760 --> 00:09:22,480 Speaker 1: company because maybe you're saving up for like a building 209 00:09:22,559 --> 00:09:22,960 Speaker 1: or whatever. 210 00:09:23,440 --> 00:09:24,560 Speaker 3: Make it a c corp. 211 00:09:24,640 --> 00:09:28,160 Speaker 1: Because it doesn't make sense to pay taxes on money 212 00:09:28,160 --> 00:09:31,120 Speaker 1: that you're not actually taking. And so that's why it 213 00:09:31,160 --> 00:09:34,199 Speaker 1: didn't make sense before because I won't I was pulling 214 00:09:34,240 --> 00:09:36,440 Speaker 1: money out from the Budgetista before up until this year 215 00:09:36,800 --> 00:09:40,160 Speaker 1: because their academy wasn't making enough. So now I just 216 00:09:40,280 --> 00:09:43,000 Speaker 1: pull from the academy and the Budgetista I really have 217 00:09:43,080 --> 00:09:46,400 Speaker 1: been using to build business. You know, we're saving to 218 00:09:46,440 --> 00:09:49,360 Speaker 1: buy certain things, and I don't really need the Budgetiza money, 219 00:09:49,520 --> 00:09:51,800 Speaker 1: so I've let it sit there. But the government's like, well, 220 00:09:51,800 --> 00:09:53,480 Speaker 1: whether you let it sit there or not, you're an 221 00:09:53,640 --> 00:09:56,520 Speaker 1: es corp. That's money earned, whether you take it, whether 222 00:09:56,520 --> 00:09:58,840 Speaker 1: you withdraw it or not. And so making that transition 223 00:09:58,880 --> 00:10:00,679 Speaker 1: this was actually the perfect year for it. And what 224 00:10:00,840 --> 00:10:05,280 Speaker 1: Carlos has done is I can I can file an 225 00:10:05,320 --> 00:10:07,439 Speaker 1: amendment or something like that so that way I can 226 00:10:07,480 --> 00:10:10,360 Speaker 1: be tax as anes corpse for the whole year. So 227 00:10:10,400 --> 00:10:12,960 Speaker 1: it's not like like I'm not going to be penalized 228 00:10:12,960 --> 00:10:14,719 Speaker 1: and saying like it's going to start just now. No, 229 00:10:14,880 --> 00:10:17,680 Speaker 1: the government will look at from January till now you 230 00:10:17,760 --> 00:10:21,240 Speaker 1: were a C corp. And so, but asking questions and 231 00:10:21,320 --> 00:10:25,200 Speaker 1: sharing where you are financially, Like I tell Carlos like 232 00:10:25,240 --> 00:10:28,559 Speaker 1: everything you know, like when it comes to finances, because 233 00:10:28,679 --> 00:10:31,640 Speaker 1: and even sometimes we'll just talk conversationally. So with your account, 234 00:10:31,679 --> 00:10:33,600 Speaker 1: if you have a business, there's certain things that you 235 00:10:33,679 --> 00:10:35,960 Speaker 1: might mention that he's going to look at and say, 236 00:10:35,960 --> 00:10:39,000 Speaker 1: from a tax perspective, how can I use that information 237 00:10:39,320 --> 00:10:41,480 Speaker 1: to lower your tax burden? Like when I got married, 238 00:10:41,960 --> 00:10:44,320 Speaker 1: when Jirell and I, oh, Superman, well whatever y'all know 239 00:10:44,320 --> 00:10:47,480 Speaker 1: his name passed you anyway, when Superman and I butt 240 00:10:47,520 --> 00:10:50,480 Speaker 1: our homes. So these things, you know, Carlos will look 241 00:10:50,480 --> 00:10:53,680 Speaker 1: at it and say, huh, how do I infuse this 242 00:10:53,760 --> 00:10:57,679 Speaker 1: information to lower Tiffany's tax burden? And when I was complaining, 243 00:10:58,040 --> 00:11:01,280 Speaker 1: you know like yo, I don't have you know, two 244 00:11:01,400 --> 00:11:04,960 Speaker 1: hundred thousand dollars in my tax savings accounts. That's crazy, 245 00:11:05,360 --> 00:11:07,800 Speaker 1: and he was like wait then when I was explaining, 246 00:11:07,840 --> 00:11:09,120 Speaker 1: and then I was just whining. I was like, I 247 00:11:09,120 --> 00:11:09,800 Speaker 1: don't even. 248 00:11:09,600 --> 00:11:11,520 Speaker 3: Take all that money outah nah. 249 00:11:11,559 --> 00:11:13,840 Speaker 1: He was like, wait, so you don't take money out 250 00:11:13,880 --> 00:11:16,559 Speaker 1: and I was like wait no, and he was like, okay, 251 00:11:16,679 --> 00:11:18,839 Speaker 1: well this is a different conversation, Tiffany. But I never 252 00:11:18,880 --> 00:11:21,080 Speaker 1: mentioned that before because I didn't know that was relevant, 253 00:11:21,400 --> 00:11:23,880 Speaker 1: you know, and so like so things like that, like 254 00:11:24,000 --> 00:11:27,679 Speaker 1: speaking to your countin and making those things relevant, like okay, So, 255 00:11:27,840 --> 00:11:29,280 Speaker 1: like I was telling, a lot of my friends are like, oh, 256 00:11:29,360 --> 00:11:31,120 Speaker 1: how come I'm not at Sea Corporate. I'm like, no, Well, 257 00:11:31,440 --> 00:11:34,200 Speaker 1: if you have a business, like, for example, the Academy, 258 00:11:34,720 --> 00:11:37,680 Speaker 1: I get paid, I pull my money out of the academy, 259 00:11:37,760 --> 00:11:40,280 Speaker 1: so it's going to remain an escorp. So if you're 260 00:11:40,320 --> 00:11:42,720 Speaker 1: pulling money out of your company, which most people are, 261 00:11:42,920 --> 00:11:45,520 Speaker 1: then remaining an escorp is it's going to make sense. 262 00:11:46,000 --> 00:11:48,520 Speaker 1: So for like I said, for me, I'm for these 263 00:11:48,559 --> 00:11:50,760 Speaker 1: other two companies, we're not pulling the majority of the 264 00:11:50,760 --> 00:11:53,880 Speaker 1: money out very little as anything. You know, we're basically 265 00:11:53,880 --> 00:11:56,000 Speaker 1: the company is basically keeping most of the money. So 266 00:11:56,040 --> 00:11:59,400 Speaker 1: it doesn't make sense, you know, to remain an escorp. 267 00:11:59,520 --> 00:12:01,440 Speaker 1: So you have to speak to your account and obviously, 268 00:12:01,720 --> 00:12:05,280 Speaker 1: but like those types of conversations are really important because 269 00:12:05,320 --> 00:12:07,679 Speaker 1: I literally was leaving there was like a two hundred 270 00:12:07,679 --> 00:12:10,400 Speaker 1: and forty thousand dollars tax bill for the last two 271 00:12:10,440 --> 00:12:12,240 Speaker 1: quarters of the year, and like almost like as I 272 00:12:12,280 --> 00:12:15,120 Speaker 1: was packing up, that's when I started whining. And then 273 00:12:15,160 --> 00:12:18,880 Speaker 1: Carlos was like, wait, that's a new situation, Tiffany. Let 274 00:12:18,880 --> 00:12:20,520 Speaker 1: me run the numbers again. And he was like, uh, 275 00:12:20,800 --> 00:12:21,559 Speaker 1: we saved you over one. 276 00:12:21,520 --> 00:12:23,200 Speaker 3: Hundred thousand dollars and I was like, oh. 277 00:12:23,240 --> 00:12:26,280 Speaker 1: And then I looked at my my tax savings account 278 00:12:26,480 --> 00:12:27,760 Speaker 1: and I looked at what he said I had to 279 00:12:27,800 --> 00:12:29,400 Speaker 1: pay for Q three for taxes, and it was the 280 00:12:29,400 --> 00:12:30,840 Speaker 1: exact same thing for. 281 00:12:30,760 --> 00:12:32,120 Speaker 3: The first time freaking ever. 282 00:12:32,559 --> 00:12:36,079 Speaker 1: And I was like, yes, I actually have it said no, 283 00:12:36,080 --> 00:12:37,679 Speaker 1: no more, like cause the literally I was gonna have 284 00:12:37,720 --> 00:12:41,040 Speaker 1: to go to my CFO and tell her to cut 285 00:12:41,040 --> 00:12:44,079 Speaker 1: this huge check from one of my companies. 286 00:12:44,280 --> 00:12:45,559 Speaker 3: Like like like like. 287 00:12:45,520 --> 00:12:47,439 Speaker 1: A seventy thousand dollars check that I wasn't going to 288 00:12:47,480 --> 00:12:49,240 Speaker 1: get to enjoy and hand it over to the government 289 00:12:49,559 --> 00:12:51,000 Speaker 1: like that's what that was what I was gonna have 290 00:12:51,000 --> 00:12:53,480 Speaker 1: to do, you know, in order to make up the difference, 291 00:12:53,800 --> 00:12:55,640 Speaker 1: Like hey, Rachel, can you put cup me a seventy 292 00:12:55,640 --> 00:12:57,160 Speaker 1: thousand dollars check I have to give to Uncle Sam. 293 00:12:57,240 --> 00:12:58,000 Speaker 3: Can you imagine. 294 00:12:58,559 --> 00:13:01,280 Speaker 2: So I'm trying to get on that Kushner tax plan 295 00:13:02,080 --> 00:13:05,000 Speaker 2: because I've been reading about it's like the super rich. 296 00:13:05,120 --> 00:13:07,120 Speaker 2: I mean, the tax breaks for the wealthy, if you 297 00:13:07,200 --> 00:13:09,320 Speaker 2: can figure them out, are so lucrative, especially with the 298 00:13:09,320 --> 00:13:11,760 Speaker 2: current administration. And I mean there were a lot of 299 00:13:11,760 --> 00:13:14,640 Speaker 2: tax changes that changed things for small businesses last year 300 00:13:14,640 --> 00:13:17,520 Speaker 2: too and made it, you know, made the tax burden 301 00:13:17,640 --> 00:13:20,840 Speaker 2: less for small businesses. And no, it's awesome that you 302 00:13:22,520 --> 00:13:26,959 Speaker 2: change that strategy. I feel like my I definitely want 303 00:13:27,000 --> 00:13:29,199 Speaker 2: to figure out some ways to like, that's my next 304 00:13:29,200 --> 00:13:31,120 Speaker 2: plan for Helen is just to sit down with me 305 00:13:31,160 --> 00:13:34,000 Speaker 2: and figure out how to minimize our tax liability because 306 00:13:34,000 --> 00:13:36,560 Speaker 2: I definitely know that we are not doing like we're 307 00:13:36,600 --> 00:13:40,880 Speaker 2: not maximizing the tax breaks available to us in the 308 00:13:40,920 --> 00:13:43,400 Speaker 2: most strategic way. And it's just something that I've been 309 00:13:43,400 --> 00:13:45,320 Speaker 2: putting aside because we have the house right now. But 310 00:13:45,360 --> 00:13:46,840 Speaker 2: I'm like, man, wouldn't it be nice to have more 311 00:13:46,880 --> 00:13:49,000 Speaker 2: bank money in the bank to pay for this renovation. 312 00:13:50,080 --> 00:13:51,640 Speaker 2: So that's something I want to look to do for 313 00:13:52,080 --> 00:13:55,240 Speaker 2: twenty nineteen. And also, like I mean, you've worked with 314 00:13:55,280 --> 00:13:57,200 Speaker 2: Carlos for how long? You always mention how you guys 315 00:13:57,200 --> 00:13:58,000 Speaker 2: have grown together. 316 00:13:58,520 --> 00:14:01,680 Speaker 1: Yeah, I feel like since since I was since I 317 00:14:01,760 --> 00:14:04,720 Speaker 1: was teaching preschool, Like I've worked with Carlos since then, 318 00:14:04,800 --> 00:14:06,280 Speaker 1: so like over ten years. 319 00:14:07,000 --> 00:14:09,640 Speaker 2: Yeah, I think I've realized that that the tax preparer 320 00:14:09,760 --> 00:14:12,360 Speaker 2: just straight up like tax preparer that I got, you know, 321 00:14:12,440 --> 00:14:15,360 Speaker 2: off yelp, you know, bless his heart, Paul. He's been awesome. 322 00:14:15,600 --> 00:14:17,360 Speaker 2: I just don't know if he's the right fit for 323 00:14:17,400 --> 00:14:19,200 Speaker 2: me moving forward. So I got to start shopping for 324 00:14:19,240 --> 00:14:22,240 Speaker 2: a new I think tax accountant, especially for tax year 325 00:14:22,320 --> 00:14:26,600 Speaker 2: twenty eighteen, so one more professional to find. 326 00:14:26,680 --> 00:14:29,160 Speaker 1: I know, I know, And honestly, it's it's hard because 327 00:14:29,160 --> 00:14:31,600 Speaker 1: people are like, honestly, I've sent so many people to Carlos. 328 00:14:31,720 --> 00:14:34,160 Speaker 1: He's like I am forbidden to say anything, like I 329 00:14:34,160 --> 00:14:35,360 Speaker 1: can only say his first name. 330 00:14:36,920 --> 00:14:38,360 Speaker 2: Don't worry d Well. 331 00:14:38,240 --> 00:14:41,200 Speaker 1: Because I like, it's because it's hard, it's not necessarily 332 00:14:41,240 --> 00:14:43,400 Speaker 1: easy to find a good account And I said that, 333 00:14:43,440 --> 00:14:46,440 Speaker 1: I said, Carlos, do you know any other really good accountants? 334 00:14:46,440 --> 00:14:48,440 Speaker 1: He's like I do, and I've passed the business I 335 00:14:48,440 --> 00:14:50,880 Speaker 1: can't do onto them and now they can't handle any 336 00:14:50,880 --> 00:14:53,320 Speaker 1: more business. I'm like wow, because you know it's really 337 00:14:53,440 --> 00:14:57,000 Speaker 1: labor intense, like to intensive to like you know, prepare 338 00:14:57,040 --> 00:14:59,760 Speaker 1: someone's tax, learn their businesses, understand the ins and out, 339 00:15:00,160 --> 00:15:01,760 Speaker 1: really understand like what's going. 340 00:15:01,520 --> 00:15:02,520 Speaker 3: On in their lives, you know. 341 00:15:02,640 --> 00:15:05,000 Speaker 1: So he's like, you know, I'm limited in how how 342 00:15:05,000 --> 00:15:08,400 Speaker 1: many people I can take on. And it's important, like 343 00:15:08,480 --> 00:15:12,240 Speaker 1: you know, to find someone who you can share your 344 00:15:12,280 --> 00:15:13,960 Speaker 1: life with, like you have to be able to be 345 00:15:14,120 --> 00:15:17,560 Speaker 1: like like Carlos knows everything from like when I first started, 346 00:15:17,800 --> 00:15:20,120 Speaker 1: you know, when I was teaching preschool and what was 347 00:15:20,160 --> 00:15:22,280 Speaker 1: that like. And he knows when I was making next 348 00:15:22,280 --> 00:15:25,360 Speaker 1: to nothing and just suggesting along the way and always 349 00:15:25,400 --> 00:15:29,880 Speaker 1: tweaking every every quarter, you know. Like I spent about 350 00:15:29,880 --> 00:15:32,560 Speaker 1: an hour with Carlos, and we don't just talk about money. 351 00:15:32,600 --> 00:15:34,760 Speaker 1: I talk about like what's going on in life, because 352 00:15:34,800 --> 00:15:37,840 Speaker 1: Carlos was always extracting stuff like wait, you didn't tell 353 00:15:37,880 --> 00:15:41,000 Speaker 1: me that Xyz. You didn't tell me that, you know, 354 00:15:41,080 --> 00:15:42,800 Speaker 1: you have a bonus starter, you didn't tell me, you know. 355 00:15:42,880 --> 00:15:44,440 Speaker 3: So those things come up. 356 00:15:44,320 --> 00:15:50,360 Speaker 1: And then he integrates those things into yeah, my tax plan. 357 00:15:50,480 --> 00:15:53,160 Speaker 3: But even then, like I still am looking for the 358 00:15:53,160 --> 00:15:53,720 Speaker 3: perfect I. 359 00:15:53,640 --> 00:15:56,360 Speaker 1: Mean I I'm hoping Helen is going to work out 360 00:15:56,360 --> 00:15:58,160 Speaker 1: because I need a financial planner. So me and you 361 00:15:58,160 --> 00:16:00,600 Speaker 1: are in the same boat looking for some new new 362 00:16:00,640 --> 00:16:04,360 Speaker 1: blood in the mix. We should have someone hit me 363 00:16:04,440 --> 00:16:06,520 Speaker 1: up and said that we should have a show about 364 00:16:06,560 --> 00:16:07,600 Speaker 1: building your money team. 365 00:16:09,040 --> 00:16:10,680 Speaker 2: You know, I'm trying to let me do it first, 366 00:16:10,720 --> 00:16:13,080 Speaker 2: and then I'm a holler at you about that show. 367 00:16:14,480 --> 00:16:16,160 Speaker 3: How at you? All Right? 368 00:16:16,200 --> 00:16:17,120 Speaker 2: What is the money team? 369 00:16:17,160 --> 00:16:17,400 Speaker 3: I get? 370 00:16:17,400 --> 00:16:19,560 Speaker 2: What is ideal for you? Yeah? It's hard. 371 00:16:20,240 --> 00:16:22,120 Speaker 1: Yeah, it is like who Yeah, I mean, like you know, 372 00:16:22,160 --> 00:16:25,640 Speaker 1: your accountant, maybe a financial advisor, a financial planner, and 373 00:16:25,720 --> 00:16:27,080 Speaker 1: like kind of like that kind of stuff. It is 374 00:16:27,120 --> 00:16:29,840 Speaker 1: hard to find. But one thing that Carlos told me 375 00:16:29,920 --> 00:16:31,680 Speaker 1: this is just kind of like an aside that made 376 00:16:31,680 --> 00:16:33,280 Speaker 1: me a little nervous, But I kind of have seen 377 00:16:33,280 --> 00:16:36,640 Speaker 1: this too. He was like, he is noticing a trend, 378 00:16:37,240 --> 00:16:41,080 Speaker 1: and he was like, he feels like some financial dark 379 00:16:41,160 --> 00:16:43,480 Speaker 1: days are kind of coming, he said, because I'm noticing 380 00:16:43,520 --> 00:16:46,760 Speaker 1: a trend in that although people are making more, they 381 00:16:46,800 --> 00:16:49,560 Speaker 1: are less and less able to afford their life. And 382 00:16:49,640 --> 00:16:51,400 Speaker 1: he said, I'm seeing it more and more in the 383 00:16:51,440 --> 00:16:54,880 Speaker 1: office that people are struggling more even though they're making 384 00:16:54,920 --> 00:16:58,440 Speaker 1: more and He's like, you know, it's it's worrying me. 385 00:16:58,520 --> 00:17:00,840 Speaker 1: And he's like, are you seeing that? And I said 386 00:17:01,000 --> 00:17:03,880 Speaker 1: a mix of yes and no, because I feel like, 387 00:17:03,920 --> 00:17:06,879 Speaker 1: you know, dreamcatchers, like my audience, it's a little different 388 00:17:06,880 --> 00:17:10,000 Speaker 1: because they're actively working on doing better. But I do 389 00:17:10,080 --> 00:17:12,040 Speaker 1: kind of have been feeling that feeling too that He's like, 390 00:17:12,080 --> 00:17:15,520 Speaker 1: people are spending more, things are getting more and more expensive, 391 00:17:16,000 --> 00:17:18,320 Speaker 1: even though people's incomes are growing, he said, but it's 392 00:17:18,400 --> 00:17:20,800 Speaker 1: He's like, honestly, it's making me a little nervous. He 393 00:17:20,960 --> 00:17:23,560 Speaker 1: was like, I feel like, not necessarily that another recession 394 00:17:23,640 --> 00:17:26,280 Speaker 1: is coming, but something is coming, he said, because I'm 395 00:17:26,359 --> 00:17:28,320 Speaker 1: just seeing more and more people come into my office 396 00:17:28,320 --> 00:17:31,320 Speaker 1: who you know, things are not getting better for them. 397 00:17:31,680 --> 00:17:34,199 Speaker 2: Yeah, I mean that's the I mean, he's just hitting on, 398 00:17:34,359 --> 00:17:37,840 Speaker 2: like the real problem with the economic recovery, it's that 399 00:17:37,960 --> 00:17:40,280 Speaker 2: it's been And we talked about this when we did. 400 00:17:40,880 --> 00:17:44,560 Speaker 2: We talked about the anniversary of the financial crisis, how 401 00:17:44,640 --> 00:17:47,280 Speaker 2: the economic Yes, the US economy is doing well, even 402 00:17:47,280 --> 00:17:49,879 Speaker 2: with the volatile days we've had the past couple of weeks, 403 00:17:50,840 --> 00:17:54,359 Speaker 2: but the but the recovery hasn't been equally distributed, and 404 00:17:54,480 --> 00:17:58,840 Speaker 2: people at the top are making these really crazy tax breaks, 405 00:17:58,880 --> 00:18:01,359 Speaker 2: and all the profits for these companies from the booming 406 00:18:01,359 --> 00:18:04,960 Speaker 2: economy are trickling down to the highest earners, and you know, 407 00:18:05,000 --> 00:18:06,639 Speaker 2: you have people at the bottom and at the middle 408 00:18:06,680 --> 00:18:09,879 Speaker 2: who are maybe earning a little bit more, they're you know, 409 00:18:09,880 --> 00:18:12,159 Speaker 2: they're their wages are increasing a little bit, but not 410 00:18:12,320 --> 00:18:15,320 Speaker 2: a not at a rate enough to keep pace with 411 00:18:15,359 --> 00:18:18,320 Speaker 2: the cost of the biggest expenses that we all encour 412 00:18:18,400 --> 00:18:22,320 Speaker 2: which are like housing and increasingly education. So yeah, I 413 00:18:23,200 --> 00:18:25,760 Speaker 2: think that. I mean, it's not like he's just he's like, 414 00:18:26,480 --> 00:18:29,159 Speaker 2: you know, experiencing it, like it's really happening. I mean, 415 00:18:29,160 --> 00:18:31,920 Speaker 2: the numbers are out there. People are not a lot 416 00:18:31,920 --> 00:18:33,439 Speaker 2: of people. I mean, we get those questions from our 417 00:18:33,440 --> 00:18:35,360 Speaker 2: listeners all the time that are hard to answer, which 418 00:18:35,400 --> 00:18:39,280 Speaker 2: is like, hey, I'm saving and I'm budgeting and nothing's changing. 419 00:18:39,320 --> 00:18:42,560 Speaker 2: What do I do. Yeah, it's such a hard there's 420 00:18:42,600 --> 00:18:46,560 Speaker 2: no answer. You know, there's no easy answer for people 421 00:18:46,560 --> 00:18:49,560 Speaker 2: in that situation, and it's i mean, it's very frustrating, 422 00:18:49,600 --> 00:18:52,960 Speaker 2: and you know that's part of the I know that 423 00:18:52,960 --> 00:18:56,520 Speaker 2: that's that disgruntledness, that sense of frustration that people are 424 00:18:56,520 --> 00:18:59,360 Speaker 2: getting ahead while you're not, but be doing everything right, Yeah, 425 00:18:59,760 --> 00:19:00,639 Speaker 2: that's that's common. 426 00:19:00,680 --> 00:19:04,800 Speaker 1: I feel like, well, this is a good time to 427 00:19:05,040 --> 00:19:09,159 Speaker 1: switch gears into questions. So why did one of our 428 00:19:09,240 --> 00:19:16,160 Speaker 1: listeners in love and Shadiness send me the the. 429 00:19:14,720 --> 00:19:16,399 Speaker 3: The lyrics, the words you know for. 430 00:19:16,720 --> 00:19:17,760 Speaker 2: That independent women? 431 00:19:18,080 --> 00:19:19,920 Speaker 3: Yes, how do you go to their like s Tiffany? 432 00:19:19,960 --> 00:19:24,760 Speaker 2: Honestly, y just please, I'm. 433 00:19:24,560 --> 00:19:26,840 Speaker 1: Not even gonna sick at this time, because you know, 434 00:19:26,960 --> 00:19:31,280 Speaker 1: in honor of you know that like delightfuly shady. But 435 00:19:31,320 --> 00:19:32,879 Speaker 1: I forget what her name was, but I thought that 436 00:19:32,920 --> 00:19:34,640 Speaker 1: was hilarious. It took me a while because I'm reading 437 00:19:34,640 --> 00:19:36,280 Speaker 1: it because you know, obviously I don't know the lyrics, 438 00:19:36,359 --> 00:19:37,800 Speaker 1: so I'm reading it like, what is this even me? 439 00:19:37,880 --> 00:19:38,160 Speaker 2: Oh? 440 00:19:38,280 --> 00:19:41,240 Speaker 1: Oh gotcha girl? She's like for the next time. She's like, 441 00:19:41,240 --> 00:19:48,320 Speaker 1: I love Brandon mission. So yes, questions, the's gon time? 442 00:19:48,720 --> 00:19:49,080 Speaker 3: Go ahead. 443 00:19:49,160 --> 00:19:51,399 Speaker 2: Oh yeah, we got some really good questions. It sounds 444 00:19:51,440 --> 00:19:53,080 Speaker 2: like a lot of you guys are thinking about buying 445 00:19:53,080 --> 00:19:56,119 Speaker 2: a home, so we got some good questions around home ownership, 446 00:19:56,320 --> 00:19:57,679 Speaker 2: want about credit card texts? 447 00:19:57,760 --> 00:19:57,800 Speaker 3: Like? 448 00:19:57,920 --> 00:20:02,159 Speaker 2: Which question too? I go with? First, Let's let's take 449 00:20:02,200 --> 00:20:04,840 Speaker 2: a question for a listener as Sharon or maybe a Sharon. 450 00:20:04,920 --> 00:20:07,840 Speaker 2: I'm not sure. There's two hours, she says, question, question, question, 451 00:20:08,080 --> 00:20:10,760 Speaker 2: you both are new homeowners and took two different routes 452 00:20:10,800 --> 00:20:13,480 Speaker 2: to get there. Given the choice again, would you guys 453 00:20:13,560 --> 00:20:16,080 Speaker 2: still decide to purchase a fixer upper or would you 454 00:20:16,080 --> 00:20:21,840 Speaker 2: buy something move in ready who mid renovation? 455 00:20:22,560 --> 00:20:26,679 Speaker 3: Yes, I don't know. 456 00:20:26,760 --> 00:20:30,800 Speaker 1: I feel like it's hard to say because where it's 457 00:20:31,400 --> 00:20:32,919 Speaker 1: I'm in a better place than I was before. If 458 00:20:32,920 --> 00:20:35,000 Speaker 1: you would have called me, maybe like before we found 459 00:20:35,080 --> 00:20:36,639 Speaker 1: Justin and we were still struggling, would have been like 460 00:20:36,680 --> 00:20:39,080 Speaker 1: I should have just gotten a darn house that was 461 00:20:39,119 --> 00:20:42,280 Speaker 1: done already. But I'm not gonna lie like walking through 462 00:20:42,359 --> 00:20:45,000 Speaker 1: today and picking out how we want each vathen to be. 463 00:20:45,400 --> 00:20:47,640 Speaker 1: It's going to be exactly what we want, and it's 464 00:20:47,680 --> 00:20:49,800 Speaker 1: going to cost the same as if we would have 465 00:20:49,880 --> 00:20:52,520 Speaker 1: gotten the house basically like you know, and I will 466 00:20:52,560 --> 00:20:54,440 Speaker 1: still have a little equity, so maybe a little less, 467 00:20:55,119 --> 00:20:57,359 Speaker 1: you know, than if we would have gotten the house 468 00:20:57,440 --> 00:21:00,240 Speaker 1: like fully done. So I kind of, I mean, I'm 469 00:21:00,280 --> 00:21:02,320 Speaker 1: happy about the renovent because I have a good guy now. 470 00:21:02,800 --> 00:21:05,760 Speaker 3: So no, I'm glad we went about it this way. 471 00:21:05,800 --> 00:21:07,040 Speaker 1: But if you would have asked me like I said 472 00:21:07,040 --> 00:21:09,119 Speaker 1: before Justin, I was like, why do we do this 473 00:21:09,160 --> 00:21:09,920 Speaker 1: to ourselves. 474 00:21:11,200 --> 00:21:14,080 Speaker 2: I'm really happy with our decisions so far. I but again, 475 00:21:14,440 --> 00:21:17,119 Speaker 2: so far we're staying on budget. I just feel like, 476 00:21:17,600 --> 00:21:20,320 Speaker 2: I mean, we had no choice, like moving ready for us, 477 00:21:20,359 --> 00:21:22,240 Speaker 2: it would have cost twice as much as what we paid, 478 00:21:23,160 --> 00:21:25,560 Speaker 2: and my budget just wouldn't allow me to buy move 479 00:21:25,600 --> 00:21:28,000 Speaker 2: in Ready. So I honestly sure it was the right 480 00:21:28,040 --> 00:21:30,840 Speaker 2: choice because it was the only choice for me. And 481 00:21:30,920 --> 00:21:33,040 Speaker 2: I think, you know, and I feel like if you're 482 00:21:33,240 --> 00:21:34,720 Speaker 2: if you're trying to find a house that's in your 483 00:21:34,760 --> 00:21:38,400 Speaker 2: in your price range, you know, a fixer upper, it's 484 00:21:38,440 --> 00:21:40,119 Speaker 2: it's the way to go because you don't have to 485 00:21:40,119 --> 00:21:42,280 Speaker 2: do everything all at once. You know, there's still projects 486 00:21:42,320 --> 00:21:45,120 Speaker 2: that we're planning for two, three, four years down the road. 487 00:21:46,080 --> 00:21:49,640 Speaker 2: But I definitely didn't want to I definitely didn't want 488 00:21:49,640 --> 00:21:52,439 Speaker 2: to take on more than we could chew as far 489 00:21:52,480 --> 00:21:54,800 Speaker 2: as a mortgage payment went. So I maxed out what 490 00:21:54,840 --> 00:21:57,280 Speaker 2: I thought was reasonable for us to pay, you know, 491 00:21:57,359 --> 00:22:00,359 Speaker 2: with one paycheck of the you know, four pay checks 492 00:22:00,359 --> 00:22:03,280 Speaker 2: a month that we get together, and so we wouldn't 493 00:22:03,280 --> 00:22:08,120 Speaker 2: be cash strapped. And I'm happy with that and hopefully hopefully, well, 494 00:22:08,119 --> 00:22:10,040 Speaker 2: you know, talk to me again in five ten years. 495 00:22:10,600 --> 00:22:14,239 Speaker 1: Yeah, I mean, like I said, yes, I'm happy with 496 00:22:14,280 --> 00:22:16,760 Speaker 1: it because I just knowing that also too, I'm sure 497 00:22:16,800 --> 00:22:18,800 Speaker 1: you're happy like to know like you're getting exactly the 498 00:22:18,840 --> 00:22:21,800 Speaker 1: house that you want. You know, it's yours and you're 499 00:22:21,920 --> 00:22:25,240 Speaker 1: you know, crafting it and creating how you want to live. 500 00:22:25,320 --> 00:22:28,439 Speaker 1: So I'm excited about that because you know, there's no 501 00:22:28,560 --> 00:22:32,719 Speaker 1: way to know, there's no way to I don't know, 502 00:22:32,760 --> 00:22:35,439 Speaker 1: there's no way to buy a house that looks exactly 503 00:22:35,480 --> 00:22:37,760 Speaker 1: how you want on the inside, every tile, this is 504 00:22:37,800 --> 00:22:38,800 Speaker 1: the floor you want, this is the. 505 00:22:38,760 --> 00:22:39,280 Speaker 3: Color you know. 506 00:22:39,840 --> 00:22:46,040 Speaker 2: Yeah, so yeah, thanks for the question, Sharon. Another question, 507 00:22:46,080 --> 00:22:49,280 Speaker 2: here's one about four one k. Interesting. So this this 508 00:22:49,440 --> 00:22:51,760 Speaker 2: was a long question, but I'm gonna consolidate it. Basically, 509 00:22:52,119 --> 00:22:54,440 Speaker 2: this is from an anonymous listener who is thinking about 510 00:22:54,480 --> 00:22:57,840 Speaker 2: buying a home but has had has been worried about 511 00:22:57,840 --> 00:23:00,200 Speaker 2: getting approof for a mortgage because she has about ten 512 00:23:00,200 --> 00:23:02,560 Speaker 2: thousand dollars in credit card debt. You know, it's hard 513 00:23:02,560 --> 00:23:04,639 Speaker 2: to get approved for a mortgage when you're you know, 514 00:23:04,680 --> 00:23:07,240 Speaker 2: your debt to income ratio is on the high side. 515 00:23:07,480 --> 00:23:10,600 Speaker 2: So her question is, would you suggest taking a small 516 00:23:10,640 --> 00:23:13,080 Speaker 2: loan from your four to one K to pay off 517 00:23:13,080 --> 00:23:16,840 Speaker 2: that credit card debt and preparation for preparing to purchase 518 00:23:17,040 --> 00:23:22,280 Speaker 2: a house. Oh, tricky question. 519 00:23:22,600 --> 00:23:25,439 Speaker 3: It is a tricky It is a tricky question. 520 00:23:26,000 --> 00:23:28,480 Speaker 2: So she's like trying to rush things. I feel like 521 00:23:29,000 --> 00:23:33,560 Speaker 2: for you know, it's almost like listen to yourself in 522 00:23:33,640 --> 00:23:36,320 Speaker 2: terms of like your debt is not you're not able 523 00:23:36,400 --> 00:23:38,320 Speaker 2: to get a mortgage because of your credit card debt, 524 00:23:39,600 --> 00:23:41,119 Speaker 2: you know, but you want to pay it off quickly. 525 00:23:41,160 --> 00:23:43,199 Speaker 2: I mean, don't what does it spite your take off 526 00:23:43,240 --> 00:23:44,680 Speaker 2: your nose to spite your face or. 527 00:23:45,000 --> 00:23:48,399 Speaker 1: Yeah, because I think it's yeah, to cut off your 528 00:23:48,400 --> 00:23:53,719 Speaker 1: nose to spite your face. So honestly, ten thousand dollars 529 00:23:53,920 --> 00:23:56,040 Speaker 1: it's I don't think it's worth it to take it 530 00:23:56,040 --> 00:23:58,040 Speaker 1: out of your your form one kid. Because like Manny 531 00:23:58,040 --> 00:24:04,840 Speaker 1: and I mentioned earlier, there is this wave coming where she, myself, 532 00:24:05,080 --> 00:24:07,719 Speaker 1: other financial professionals are starting to notice that it is 533 00:24:07,760 --> 00:24:10,720 Speaker 1: getting harder and harder to keep up with day to 534 00:24:10,840 --> 00:24:13,800 Speaker 1: day life, even though people are making more money. And 535 00:24:13,880 --> 00:24:15,680 Speaker 1: I just would hate for you to start to put 536 00:24:15,760 --> 00:24:18,480 Speaker 1: your set yourself back when it comes to retirement, you know, 537 00:24:18,640 --> 00:24:21,960 Speaker 1: because of a choice like this versus like waiting paying 538 00:24:21,960 --> 00:24:24,560 Speaker 1: off the debt and entering to home ownership on a 539 00:24:24,600 --> 00:24:27,399 Speaker 1: stronger foot now more than ever. It's really important to 540 00:24:27,480 --> 00:24:31,480 Speaker 1: make really strong financial choices that are going to set 541 00:24:31,480 --> 00:24:32,520 Speaker 1: you up for success. 542 00:24:33,080 --> 00:24:35,840 Speaker 2: Yeah, and you have to think about I mean, I 543 00:24:35,840 --> 00:24:38,120 Speaker 2: feel like you're not looking at your other options maybe 544 00:24:38,119 --> 00:24:39,560 Speaker 2: in terms of I feel like the four oh one 545 00:24:39,600 --> 00:24:43,600 Speaker 2: K feels like a really easy piggybank to start tapping 546 00:24:43,640 --> 00:24:45,439 Speaker 2: when you want to pay off something that's annoying, like 547 00:24:45,440 --> 00:24:48,840 Speaker 2: credit card debt right away, or make a purchase right away. 548 00:24:48,840 --> 00:24:50,600 Speaker 2: But there's other things you can do. I mean, if 549 00:24:50,600 --> 00:24:53,080 Speaker 2: it's credit card debt and you have a decent credit 550 00:24:53,080 --> 00:24:55,400 Speaker 2: card score, you can think about doing a credit card 551 00:24:55,440 --> 00:24:58,879 Speaker 2: balance transfer, where you take advantage of a zero percent 552 00:24:59,440 --> 00:25:02,000 Speaker 2: APR on a credit card and transfer that debt to 553 00:25:02,040 --> 00:25:04,760 Speaker 2: a new card and then pay it off. There's personal 554 00:25:04,800 --> 00:25:07,280 Speaker 2: loan if you may qualify if you have good credit 555 00:25:07,320 --> 00:25:10,280 Speaker 2: for a decent rate on a personal loan and be 556 00:25:10,320 --> 00:25:12,439 Speaker 2: able to consolidate your credit card that way, and then 557 00:25:12,480 --> 00:25:15,520 Speaker 2: you have fixed monthly payments for a fixed period of 558 00:25:15,560 --> 00:25:18,080 Speaker 2: time and you can just chip away that credit card debt. 559 00:25:18,119 --> 00:25:20,080 Speaker 2: And then you know you have to I think if 560 00:25:20,080 --> 00:25:22,000 Speaker 2: you have credit card debt that you're worried about before 561 00:25:22,000 --> 00:25:23,680 Speaker 2: you buy a house. I mean, just think about all 562 00:25:23,720 --> 00:25:27,679 Speaker 2: the other unexpected cost of homeownership. If it's hard for 563 00:25:27,720 --> 00:25:30,000 Speaker 2: you to cover this seven thousand to ten thousand dollars 564 00:25:30,000 --> 00:25:33,239 Speaker 2: credit card debt, are you really are you really going 565 00:25:33,320 --> 00:25:36,320 Speaker 2: to be able to you know, save a few months 566 00:25:36,359 --> 00:25:39,480 Speaker 2: to six months worth of savings for you know, little 567 00:25:39,480 --> 00:25:41,399 Speaker 2: things that might pop up as a homeowner that you 568 00:25:41,480 --> 00:25:44,200 Speaker 2: need to cover, because it doesn't obviously if you're dipping 569 00:25:44,200 --> 00:25:46,080 Speaker 2: into your four one k, it means you probably don't 570 00:25:46,080 --> 00:25:49,720 Speaker 2: have liquid like cash savings. You just don't sound like 571 00:25:49,760 --> 00:25:52,160 Speaker 2: you're quite ready to take on a mortgage right now. 572 00:25:52,200 --> 00:25:54,520 Speaker 2: So I would focus on just paying down that debt 573 00:25:55,240 --> 00:25:58,040 Speaker 2: and not getting caught up in the hype of homeownership 574 00:25:58,040 --> 00:25:59,240 Speaker 2: and rushing yourself. 575 00:26:00,480 --> 00:26:03,480 Speaker 1: Yeah, yeah, I mean, and honestly, home ownership, if not 576 00:26:03,560 --> 00:26:06,639 Speaker 1: done properly, is it's I mean, ultimately, you have to 577 00:26:06,640 --> 00:26:09,199 Speaker 1: remember that it's an investment, and so it has to 578 00:26:09,200 --> 00:26:11,960 Speaker 1: be done with that thought in mind. Even though you 579 00:26:11,960 --> 00:26:14,560 Speaker 1: know you're you're purchasing a home, it's also an investment. 580 00:26:15,840 --> 00:26:21,040 Speaker 2: Absolutely, any more questions, Yeah, let's see, here's a good 581 00:26:21,119 --> 00:26:25,960 Speaker 2: question from let me hope I'm pronouncing this right, listeners, Sue, Sueye, no, 582 00:26:26,160 --> 00:26:33,879 Speaker 2: I want to maybe maybe not, so she's like, oh god, sorry, Sue, Okay, 583 00:26:33,920 --> 00:26:36,359 Speaker 2: Sue says, I was working on gathering my finances and 584 00:26:36,400 --> 00:26:40,240 Speaker 2: realize I have about seventy five thousand dollars worth of 585 00:26:40,280 --> 00:26:44,320 Speaker 2: available credit across fifteen credit accounts. These accounts range from 586 00:26:44,400 --> 00:26:47,400 Speaker 2: small store credit card accounts to regular credit cards, one 587 00:26:47,440 --> 00:26:51,080 Speaker 2: with the limit of up to fifteen thousand dollars. Holding 588 00:26:51,080 --> 00:26:53,119 Speaker 2: all of this credit has made me really nervous, and 589 00:26:53,160 --> 00:26:55,720 Speaker 2: I was wondering what's the best strategy to reduce the 590 00:26:55,800 --> 00:26:59,080 Speaker 2: amount of open credit I currently have. What's a decent 591 00:26:59,119 --> 00:27:01,480 Speaker 2: amount to actually have. I have a lot of debt 592 00:27:01,520 --> 00:27:03,239 Speaker 2: that I'm trying to pay off, and I'm wondering if 593 00:27:03,280 --> 00:27:05,960 Speaker 2: closing some of these accounts would work best in my interest. 594 00:27:06,400 --> 00:27:09,200 Speaker 2: My FICO score is about seven hundred and eighty. 595 00:27:10,600 --> 00:27:15,080 Speaker 1: Ooh, well, first of all, Sue, that's a nice little score, right. 596 00:27:15,640 --> 00:27:17,840 Speaker 2: I mean, it's almost like she's afraid of the temptation. 597 00:27:18,359 --> 00:27:20,480 Speaker 3: Yeah, I was gonna say, that's what it sounded like, right. 598 00:27:20,600 --> 00:27:23,560 Speaker 2: But honestly, having a high credit available credit limit can 599 00:27:23,680 --> 00:27:26,600 Speaker 2: only help your score as long as you don't actually 600 00:27:26,680 --> 00:27:30,560 Speaker 2: use it because one of the second most important factory 601 00:27:30,560 --> 00:27:33,320 Speaker 2: of your credit score is your utilization rate, which is 602 00:27:33,800 --> 00:27:36,040 Speaker 2: how much credit you use versus how much credit is 603 00:27:36,080 --> 00:27:38,640 Speaker 2: available to you. And as long as you're keeping that 604 00:27:38,840 --> 00:27:42,680 Speaker 2: rate low, ideally under thirty percent, that will really boost 605 00:27:42,720 --> 00:27:44,439 Speaker 2: your score. So it's no wonder to me that you 606 00:27:44,480 --> 00:27:47,400 Speaker 2: have a high credit score because yes, you know, despite 607 00:27:47,480 --> 00:27:50,479 Speaker 2: she's oh yeah, she says she owes about five thousand dollars. 608 00:27:50,520 --> 00:27:55,280 Speaker 2: So five thousand dollars, yeah, five thousand dollars into quick doing. 609 00:27:55,160 --> 00:27:59,160 Speaker 1: This, seventy five thousand is what she could borrow. That's tremendous. 610 00:27:59,520 --> 00:28:00,840 Speaker 1: Don't do that math made it? 611 00:28:00,840 --> 00:28:03,159 Speaker 2: That's nothing, No, not real quick. I'm going to determine 612 00:28:03,200 --> 00:28:06,399 Speaker 2: her utilization rate. So five thousand dollars divided by seventy 613 00:28:06,440 --> 00:28:10,080 Speaker 2: five thousand dollars, that's only six percent. Okay, that's a 614 00:28:10,160 --> 00:28:13,119 Speaker 2: very low utilization rate if you start closing your credit 615 00:28:13,160 --> 00:28:15,480 Speaker 2: card accounts, like let's say you close all your credit 616 00:28:15,480 --> 00:28:17,840 Speaker 2: card accounts and you only leave yourself with ten thousand 617 00:28:17,920 --> 00:28:19,640 Speaker 2: dollars of available. 618 00:28:19,200 --> 00:28:22,600 Speaker 3: Credit percent, yeah, fifty per utilization rate. 619 00:28:22,880 --> 00:28:25,120 Speaker 2: I made that math easy for you, Yeah, you did. 620 00:28:25,840 --> 00:28:28,480 Speaker 1: But I'll say this though, I can understand being uneasy. 621 00:28:28,720 --> 00:28:31,919 Speaker 1: So what I would likely do is look to see 622 00:28:32,040 --> 00:28:34,480 Speaker 1: what those store cards are. If they're paid off, you 623 00:28:34,560 --> 00:28:37,920 Speaker 1: might want to close them and maybe keep doing. Ask yourself, 624 00:28:38,120 --> 00:28:41,080 Speaker 1: if I close this one storecard, what's my new utilization rate? 625 00:28:41,840 --> 00:28:44,400 Speaker 1: You know, so divide basically what you what you owe 626 00:28:44,520 --> 00:28:46,840 Speaker 1: into what you could owe and maybe if you want 627 00:28:46,840 --> 00:28:50,280 Speaker 1: to hover around to fifteen percent, so close store cards 628 00:28:50,320 --> 00:28:53,200 Speaker 1: until your utilization rate is about fifteen percent. Then I 629 00:28:53,200 --> 00:28:54,840 Speaker 1: feel like you'd be in a safe space, you know. 630 00:28:55,720 --> 00:28:57,960 Speaker 2: Yeah, I mean, ideally you want it under thirty percent, 631 00:28:58,000 --> 00:29:00,280 Speaker 2: but fifteen twenties even even. 632 00:29:00,120 --> 00:29:02,000 Speaker 3: Better, especially if you're nervous. 633 00:29:02,040 --> 00:29:04,080 Speaker 1: But so you might close one or two cards and say, oh, 634 00:29:04,080 --> 00:29:05,920 Speaker 1: that brought me to ten percent, and then you can 635 00:29:05,920 --> 00:29:07,520 Speaker 1: close another card and that brought me to fifteen and 636 00:29:07,560 --> 00:29:08,880 Speaker 1: you're like, I'm just going to stay right here. 637 00:29:09,800 --> 00:29:12,320 Speaker 2: Yeah, but leave yourself some you know, some room, and 638 00:29:12,720 --> 00:29:14,440 Speaker 2: definitely look at I mean, look, I would look at 639 00:29:14,440 --> 00:29:17,680 Speaker 2: cards too, And if there's an annual fee, you don't 640 00:29:17,720 --> 00:29:20,600 Speaker 2: mention any cards with annual fees, but consider that. But 641 00:29:20,600 --> 00:29:22,280 Speaker 2: I mean you have to consider other things as you're 642 00:29:22,320 --> 00:29:24,680 Speaker 2: closing accounts too, like the age of the credit card 643 00:29:24,720 --> 00:29:27,800 Speaker 2: account you don't want to go closing your oldest accounts first, 644 00:29:27,840 --> 00:29:31,080 Speaker 2: so yes, because your age of credit is another factor 645 00:29:31,120 --> 00:29:34,280 Speaker 2: of your credit score. So it's this whole like delicate balance. 646 00:29:35,560 --> 00:29:38,480 Speaker 2: But as long as you're being responsible those cards, you're 647 00:29:38,480 --> 00:29:41,240 Speaker 2: not incurring annual fees that are costing you money, and 648 00:29:41,280 --> 00:29:43,480 Speaker 2: you're keeping your credit card balances super low, which it 649 00:29:43,520 --> 00:29:46,160 Speaker 2: sounds like you are. You're in good shape, you know. 650 00:29:46,760 --> 00:29:48,960 Speaker 2: Just just keep being responsible with it and don't be 651 00:29:49,000 --> 00:29:52,360 Speaker 2: nervous about It's almost like she's afraid someone's just gonna, like, 652 00:29:52,800 --> 00:29:56,800 Speaker 2: I don't know, possess her and go on a shopping spree. 653 00:29:57,000 --> 00:29:58,920 Speaker 1: And if you're worried about, like you know, someone's stealing 654 00:29:58,920 --> 00:30:01,000 Speaker 1: your identity or something like dang, don't you know, then 655 00:30:01,360 --> 00:30:06,160 Speaker 1: I honestly suggest and have really loved life block like 656 00:30:06,200 --> 00:30:09,120 Speaker 1: if you're worried about, you know, someone maybe getting a 657 00:30:09,120 --> 00:30:10,480 Speaker 1: hold of your. 658 00:30:10,600 --> 00:30:14,120 Speaker 3: You know what, your credit your credit cards or whatever. 659 00:30:14,280 --> 00:30:17,200 Speaker 1: So that's another thing you can invest into and that 660 00:30:17,200 --> 00:30:18,680 Speaker 1: doesn't cost a whole bunch of money a month. I 661 00:30:18,680 --> 00:30:20,000 Speaker 1: think I pay like nine bucks a month. 662 00:30:21,640 --> 00:30:24,400 Speaker 2: Yeah, it's a good tip, all right, Suwey, thank you 663 00:30:24,400 --> 00:30:26,960 Speaker 2: for your question, And you guys, if you have questions, 664 00:30:27,040 --> 00:30:30,080 Speaker 2: hit us up at Bronambition Podcast at gmail dot com 665 00:30:30,160 --> 00:30:32,920 Speaker 2: dot com, or you can go to brown Ambition Podcast 666 00:30:32,960 --> 00:30:35,080 Speaker 2: dot com and a click that ask us anything tab. 667 00:30:35,280 --> 00:30:37,040 Speaker 2: Remember to let me know if you want to stay 668 00:30:37,080 --> 00:30:39,440 Speaker 2: anonymous or if you don't mind us using your name 669 00:30:39,480 --> 00:30:40,880 Speaker 2: on the show, say. 670 00:30:40,760 --> 00:30:42,080 Speaker 3: It at the very top, because if you say at 671 00:30:42,120 --> 00:30:43,560 Speaker 3: the bottom, it's like it too late. 672 00:30:44,080 --> 00:30:46,400 Speaker 1: Say what that if you want to be anonymous, So 673 00:30:46,440 --> 00:30:48,480 Speaker 1: don't say hi, my name is Tiffany and then you 674 00:30:48,520 --> 00:30:51,520 Speaker 1: say you know, oh, you know, and then I'll be 675 00:30:51,520 --> 00:30:53,560 Speaker 1: at the end. Then Mandy reads, please don't say my name. 676 00:30:53,640 --> 00:30:57,880 Speaker 2: Oh well, someone did send me a second email, like 677 00:30:58,000 --> 00:30:59,640 Speaker 2: just just so you know, I want to be anonymous. 678 00:30:59,720 --> 00:31:00,600 Speaker 2: Luckily I saw it. 679 00:31:01,040 --> 00:31:03,680 Speaker 3: Whoa, y'all, you guys are live a dangerous. 680 00:31:03,360 --> 00:31:05,160 Speaker 2: Because I will put y'all's business out there. 681 00:31:05,200 --> 00:31:06,640 Speaker 1: Right or at least just give you a fake name 682 00:31:06,640 --> 00:31:09,040 Speaker 1: from the rip. Just be like, my name is Chico. 683 00:31:09,320 --> 00:31:14,480 Speaker 2: I don't know, I don't know why that's my anonymous 684 00:31:14,520 --> 00:31:26,480 Speaker 2: question name? Shall we end it on a boost a break? 685 00:31:27,320 --> 00:31:30,880 Speaker 1: Yes, boots to break boosts the break, boost to break? 686 00:31:31,200 --> 00:31:32,760 Speaker 3: What do you want to boost a break? 687 00:31:33,120 --> 00:31:36,760 Speaker 2: I'm going to do a boost for my own investor 688 00:31:37,320 --> 00:31:41,000 Speaker 2: emotional responsibility, which I don't know if you guys noticed, 689 00:31:41,000 --> 00:31:44,240 Speaker 2: But the market had a really bad week last week, 690 00:31:44,480 --> 00:31:47,360 Speaker 2: and I got an alert from my investment account saying 691 00:31:47,400 --> 00:31:51,000 Speaker 2: that I lost two percent, and I really get stressed out. 692 00:31:51,000 --> 00:31:52,600 Speaker 2: I used to really get stressed out when that little 693 00:31:52,640 --> 00:31:54,440 Speaker 2: dip in your account happened, you know, you see, like 694 00:31:54,480 --> 00:31:56,520 Speaker 2: your earnings over the past year. And I saw my 695 00:31:56,520 --> 00:31:59,480 Speaker 2: little dip, but I stayed the course. I stayed the course. 696 00:31:59,560 --> 00:32:01,520 Speaker 2: I might have send Helen a little email and just 697 00:32:01,560 --> 00:32:03,880 Speaker 2: saying like, hey, just letting you know I'm cool, I'm good, 698 00:32:03,920 --> 00:32:09,040 Speaker 2: I'm good, and I read I like, I know this, 699 00:32:09,200 --> 00:32:11,120 Speaker 2: you know the market just the market dipped back in 700 00:32:11,200 --> 00:32:14,040 Speaker 2: January too, and we talked about it then. But I've 701 00:32:14,120 --> 00:32:18,080 Speaker 2: learned like not to react emotionally and to just read 702 00:32:18,160 --> 00:32:22,880 Speaker 2: and get some perspective on why the market's tanking, you know, periodically, 703 00:32:22,920 --> 00:32:25,200 Speaker 2: and already gets kind of bounced back just a little bit. 704 00:32:25,840 --> 00:32:28,800 Speaker 2: So if you guys are stressing about the market, just 705 00:32:28,920 --> 00:32:31,680 Speaker 2: know it's like, I'm not worried because my my investments 706 00:32:31,720 --> 00:32:34,880 Speaker 2: are type in my retirement account. I'm retiring from Mandy 707 00:32:35,080 --> 00:32:39,320 Speaker 2: like thirty or forty years from now and she's gonna 708 00:32:39,320 --> 00:32:41,360 Speaker 2: be fine. She's got plenty of time. That's why I 709 00:32:41,400 --> 00:32:43,120 Speaker 2: tell myself, I got to come up with my name, 710 00:32:43,560 --> 00:32:45,160 Speaker 2: my old lady name, your old dy name. 711 00:32:45,200 --> 00:32:46,920 Speaker 1: Oh here right, because many and Wana definitely have to 712 00:32:46,960 --> 00:32:48,480 Speaker 1: be still doing a podcast. 713 00:32:48,040 --> 00:32:51,160 Speaker 3: Like girl, I can't hear you, like, is your head thousan? 714 00:32:51,360 --> 00:32:52,880 Speaker 2: You know? Do you know where you can get a 715 00:32:52,920 --> 00:32:54,040 Speaker 2: cane for half off? 716 00:32:55,760 --> 00:32:55,960 Speaker 1: Oh? 717 00:32:56,040 --> 00:32:56,240 Speaker 3: Yes? 718 00:32:56,320 --> 00:32:57,960 Speaker 1: You have to definitely come up with the old lady 719 00:32:58,040 --> 00:33:00,840 Speaker 1: name because Wanda can't be out here by people are 720 00:33:00,880 --> 00:33:01,480 Speaker 1: like why Wanda. 721 00:33:01,520 --> 00:33:03,280 Speaker 3: I'm like, it's just such a great old lady name. 722 00:33:03,320 --> 00:33:05,160 Speaker 3: It's like Gertrude. 723 00:33:05,320 --> 00:33:06,360 Speaker 2: That's also a good name. 724 00:33:06,640 --> 00:33:08,040 Speaker 3: It is a great old lady name. You can have 725 00:33:08,080 --> 00:33:08,560 Speaker 3: it if you want. 726 00:33:08,680 --> 00:33:10,600 Speaker 2: No good I need to like it has to come 727 00:33:10,600 --> 00:33:10,840 Speaker 2: to me. 728 00:33:12,760 --> 00:33:16,360 Speaker 1: Well, I am actually going to boost as well. This 729 00:33:16,400 --> 00:33:19,080 Speaker 1: past weekend, I was in Mexico speaking at this retreat 730 00:33:19,120 --> 00:33:22,120 Speaker 1: called the I Am Woman Retreat, And what I liked 731 00:33:22,160 --> 00:33:25,239 Speaker 1: about it is is that there's so many things that 732 00:33:25,280 --> 00:33:27,520 Speaker 1: are geared toward millennial, millennial, millennial. 733 00:33:28,400 --> 00:33:29,800 Speaker 3: And I'm not. 734 00:33:29,920 --> 00:33:32,640 Speaker 1: Right, but this was such an awesome retreat because the 735 00:33:33,280 --> 00:33:37,880 Speaker 1: women were in their forties, fifties, sixties, even seventies when 736 00:33:37,920 --> 00:33:40,840 Speaker 1: I got to do a financial presentation for them, and 737 00:33:40,960 --> 00:33:45,000 Speaker 1: it was just so nice to see that these women 738 00:33:45,120 --> 00:33:49,240 Speaker 1: were still working on self development, that they were still like, 739 00:33:49,320 --> 00:33:51,960 Speaker 1: you know, very curious about how can they do better 740 00:33:52,440 --> 00:33:55,560 Speaker 1: financially in their relationships. It was just such an awesome 741 00:33:56,600 --> 00:33:58,640 Speaker 1: like I don't know, I said, I told myself, next time, 742 00:33:58,680 --> 00:34:02,000 Speaker 1: I'm going to like pay for my mom and like 743 00:34:02,040 --> 00:34:03,920 Speaker 1: maybe my aunt to do it with her to go 744 00:34:04,240 --> 00:34:05,840 Speaker 1: because it was like the first of all, the location 745 00:34:05,960 --> 00:34:09,640 Speaker 1: it was called Unico, the hotel. It was I've been 746 00:34:09,680 --> 00:34:13,120 Speaker 1: to a bunch of you know, resorts, and by far, 747 00:34:13,840 --> 00:34:15,800 Speaker 1: this is the most beautiful resort I've ever seen in 748 00:34:15,840 --> 00:34:20,359 Speaker 1: my life. There was a jetted pool tub thing on 749 00:34:20,400 --> 00:34:23,120 Speaker 1: every balcony and it was just amazing. It was beautiful. 750 00:34:23,360 --> 00:34:28,359 Speaker 1: The customer support service was just amazing. The food was phenomenal, 751 00:34:28,400 --> 00:34:31,200 Speaker 1: and usually you know, food sometimes at these like all 752 00:34:31,200 --> 00:34:33,800 Speaker 1: inclusive resorts are like eh, the. 753 00:34:33,680 --> 00:34:36,520 Speaker 3: Pools were, I mean, it just it just was amazing. 754 00:34:36,560 --> 00:34:40,840 Speaker 1: The actual location, but like the actual like classes and 755 00:34:40,920 --> 00:34:43,640 Speaker 1: courses and the daily lessons and stuff that she would take. 756 00:34:43,680 --> 00:34:45,799 Speaker 3: They were uplifting, but they were also educational. 757 00:34:47,000 --> 00:34:49,040 Speaker 1: It just was a really great time and I just 758 00:34:49,080 --> 00:34:51,080 Speaker 1: want to give a boost to that because it's just 759 00:34:51,200 --> 00:34:53,719 Speaker 1: nice to see that, you know, in a world full 760 00:34:53,760 --> 00:34:58,799 Speaker 1: of millennial centric offerings, it was nice to see that 761 00:34:59,280 --> 00:35:01,960 Speaker 1: these women someone has not forgotten these women, like someone 762 00:35:02,120 --> 00:35:05,080 Speaker 1: created this because she was honestly like, we're left out 763 00:35:05,760 --> 00:35:08,839 Speaker 1: of this conversation, like right now that you know that we. 764 00:35:08,760 --> 00:35:10,759 Speaker 3: Want to we want to improve our. 765 00:35:10,680 --> 00:35:12,879 Speaker 1: Lives too, So if you're interested. There were some thirty 766 00:35:12,960 --> 00:35:14,759 Speaker 1: year olds there, but it was like. 767 00:35:14,719 --> 00:35:16,799 Speaker 3: A handful interest any right. 768 00:35:17,520 --> 00:35:20,359 Speaker 1: But it's called I Am That Woman Retreat, So if 769 00:35:20,360 --> 00:35:22,120 Speaker 1: you go to I Am That Woman Retreat dot com, 770 00:35:22,200 --> 00:35:24,320 Speaker 1: you can look at the pictures and learn more and 771 00:35:24,320 --> 00:35:26,440 Speaker 1: maybe you'll come next year. I don't know if I'll 772 00:35:26,480 --> 00:35:28,760 Speaker 1: be speaking that year. If they invite me, i'll certainly come. 773 00:35:29,400 --> 00:35:32,840 Speaker 1: But it was just it was just a really great moment. 774 00:35:32,880 --> 00:35:35,360 Speaker 1: So if you got your mama, your auntie and you're thinking, like, 775 00:35:35,400 --> 00:35:39,480 Speaker 1: you know what, they could use a little boost and empowerment. Yeah, 776 00:35:39,560 --> 00:35:42,120 Speaker 1: I think it's just a great a great retreat to attend. 777 00:35:42,840 --> 00:35:46,200 Speaker 2: I mean, life doesn't end in your fifties exactly. 778 00:35:46,440 --> 00:35:47,920 Speaker 1: You know, And it was just so great to literally 779 00:35:47,960 --> 00:35:50,879 Speaker 1: see women in their seventies there, like just living their 780 00:35:50,880 --> 00:35:51,480 Speaker 1: best life. 781 00:35:51,560 --> 00:35:54,400 Speaker 3: Like, baby, tell me that thing again about that budget. 782 00:35:54,440 --> 00:35:57,840 Speaker 1: You're like, oh, yes, it was just really honestly it 783 00:35:57,920 --> 00:35:59,560 Speaker 1: was awesome, And I was like, wow, I felt like 784 00:35:59,600 --> 00:36:01,680 Speaker 1: honestly that I was in a room full of like 785 00:36:01,760 --> 00:36:02,280 Speaker 1: my aunts. 786 00:36:02,360 --> 00:36:04,680 Speaker 2: You know, I'm legit think I'm going to be one 787 00:36:04,719 --> 00:36:06,800 Speaker 2: of those old people who like retires in a different 788 00:36:06,840 --> 00:36:10,680 Speaker 2: country to maximize their income, because like there's all these 789 00:36:10,719 --> 00:36:13,920 Speaker 2: retirement communities in Mexico and Ecuador and like you know 790 00:36:14,040 --> 00:36:17,400 Speaker 2: Central American countries where people legit live in their retirement 791 00:36:17,480 --> 00:36:20,000 Speaker 2: because the US dollar goes so far and it's actually 792 00:36:20,040 --> 00:36:22,480 Speaker 2: really smart. We should do we should totally do a 793 00:36:22,520 --> 00:36:25,480 Speaker 2: show about investing like and or not investing, but like 794 00:36:25,560 --> 00:36:29,080 Speaker 2: retiring abroad because there's a whole like subculture people doing it. 795 00:36:30,160 --> 00:36:31,839 Speaker 2: You know, you can get a house out there and 796 00:36:31,880 --> 00:36:34,520 Speaker 2: like you know, you're a little especially around a fixed income. 797 00:36:34,880 --> 00:36:38,160 Speaker 2: And we just talked about how expensive America is getting, 798 00:36:38,200 --> 00:36:41,400 Speaker 2: Like I feel like that's that's that's definitely going to 799 00:36:41,440 --> 00:36:43,680 Speaker 2: be the trend for like if we keep going the 800 00:36:43,719 --> 00:36:47,280 Speaker 2: way we're going as people looking outside the US to retire. 801 00:36:47,760 --> 00:36:51,720 Speaker 3: I agree, I agree the beach that sounds nice. 802 00:36:52,000 --> 00:36:55,440 Speaker 1: Yeah, it was Honestly, I was like, wait, this is everything, 803 00:36:55,560 --> 00:36:57,840 Speaker 1: this is a little bit of everything. So yeah, so 804 00:36:58,680 --> 00:37:03,040 Speaker 1: that's my bost that's our show. Now it's time to 805 00:37:03,080 --> 00:37:06,520 Speaker 1: say goodbye to all our company. Remember the time you 806 00:37:06,520 --> 00:37:07,840 Speaker 1: didn't know what that was? And I was like, are 807 00:37:07,880 --> 00:37:08,400 Speaker 1: you kidding me? 808 00:37:08,840 --> 00:37:11,960 Speaker 2: I knew the Nicky the Mickey Mouse Club, You didn't. 809 00:37:12,320 --> 00:37:13,839 Speaker 2: I knew that. 810 00:37:14,080 --> 00:37:16,799 Speaker 1: I don't know between that and Golden Girls, I was like, Mandy, 811 00:37:16,840 --> 00:37:17,920 Speaker 1: I don't even know if I know you. 812 00:37:18,440 --> 00:37:21,160 Speaker 2: Oh gosh, talk to me when you watch ninety Day Fiance, Okay, 813 00:37:21,200 --> 00:37:21,919 Speaker 2: then we can talk. 814 00:37:22,440 --> 00:37:22,520 Speaker 3: No. 815 00:37:22,760 --> 00:37:24,319 Speaker 1: First of all, I have not watched, but I have 816 00:37:24,320 --> 00:37:26,840 Speaker 1: seen the clips of my Nigerian brethren. 817 00:37:27,160 --> 00:37:29,080 Speaker 2: Okay yo. 818 00:37:29,400 --> 00:37:32,479 Speaker 1: That is I don't even know what to say. I'm 819 00:37:32,520 --> 00:37:34,600 Speaker 1: like both intrigued, ashamed and delighted. 820 00:37:34,880 --> 00:37:36,720 Speaker 3: Like it is. It is so terrible. 821 00:37:37,440 --> 00:37:40,040 Speaker 2: They're not doing the Nigerian equal any favors, but it 822 00:37:40,160 --> 00:37:41,200 Speaker 2: is highly entertaining. 823 00:37:41,640 --> 00:37:46,320 Speaker 1: Yeah, oh my gosh, I'm like, oh my gosh, why why? 824 00:37:46,520 --> 00:37:48,239 Speaker 1: But at the same time, I'm like, well, you know, 825 00:37:50,400 --> 00:37:53,040 Speaker 1: all right. On that note, I have. 826 00:37:52,920 --> 00:37:55,480 Speaker 2: A fabulous week and don't miss next week's show. We 827 00:37:55,520 --> 00:37:59,960 Speaker 2: are doing Da Da Da crossover episode with our counterpart. 828 00:38:00,040 --> 00:38:01,480 Speaker 2: It's at paychecks and balances. 829 00:38:02,280 --> 00:38:04,200 Speaker 3: Yes, And I was just a guest on this show. 830 00:38:04,239 --> 00:38:06,520 Speaker 3: I was like, look at that. We're gonna be back. 831 00:38:06,719 --> 00:38:08,600 Speaker 2: We were doing Battle of the Sexes. We are taking 832 00:38:08,600 --> 00:38:11,359 Speaker 2: on some of the biggest debates between men and women 833 00:38:11,400 --> 00:38:12,960 Speaker 2: when it comes to their finances, and we are going 834 00:38:13,040 --> 00:38:15,200 Speaker 2: to battle. You guys. It's me and Tiff against rich 835 00:38:15,239 --> 00:38:16,280 Speaker 2: and Marcus. 836 00:38:16,280 --> 00:38:17,279 Speaker 3: And you know who's gonna win. 837 00:38:18,440 --> 00:38:22,120 Speaker 2: Us. We'll just talk them to death like women do. 838 00:38:23,760 --> 00:38:24,440 Speaker 3: Don't give up.