WEBVTT - Whine About It: Getting Rich AF 0:00:01.920 --> 0:00:05.359 Wind Down with Janet Kramer and I'm Heeart Radio podcast. 0:00:06.519 --> 0:00:10.119 This week's Thursday Therapy, we've got Vivian two. So she 0:00:10.240 --> 0:00:13.440 has a new book coming out. It's called Rich af 0:00:13.560 --> 0:00:16.360 The Winning Money Mindset that will Change your Life. I 0:00:16.400 --> 0:00:17.880 know we've had a lot of money people on here, 0:00:17.920 --> 0:00:20.159 but I have a feeling she's going to have a 0:00:20.200 --> 0:00:22.040 whole new twist on it. So you can pre order 0:00:22.280 --> 0:00:24.799 as available now. It's going to be released December twenty sixth, 0:00:24.960 --> 0:00:29.960 twenty twenty three. So she is basically a mentor. She 0:00:30.040 --> 0:00:32.000 gives no Bs advice on how to think like a 0:00:32.080 --> 0:00:36.120 rich person and create smart money habits. So let's all 0:00:36.120 --> 0:00:40.760 think rich and get her on. Hey girl, Hey, I'm Jana. 0:00:41.000 --> 0:00:41.800 It's so nice to meet you. 0:00:41.880 --> 0:00:43.639 Janna, It's so nice to meet you too. 0:00:43.720 --> 0:00:47.320 I'm excited to have you on on this week's Thursday 0:00:47.360 --> 0:00:53.240 Therapy because for me, honestly money, I've talked about it 0:00:53.360 --> 0:00:55.680 a lot, and I know people on this one are like, 0:00:55.680 --> 0:00:58.240 all right, you know, another money person, but I'm like, no, Like, 0:00:58.320 --> 0:01:01.480 I love what you do because you're definitely in more 0:01:01.520 --> 0:01:03.920 of like the gen Z world. You're on TikTok, You're 0:01:03.920 --> 0:01:07.959 doing all that and you know, we've had the older, 0:01:09.280 --> 0:01:13.319 wiser people come on that have been fantastic with you know, 0:01:13.600 --> 0:01:16.839 with their their books and their money. But just reading 0:01:16.840 --> 0:01:18.840 your breakdown to You've got a new book coming out 0:01:18.880 --> 0:01:21.880 called Rich af The Winning Money Mindset that will Change 0:01:21.920 --> 0:01:25.039 your life. And again listeners have heard me say this 0:01:25.160 --> 0:01:28.160 on repeat. I have a very like scarcity mindset of money. 0:01:28.200 --> 0:01:29.880 I didn't grow up with it, and so I just 0:01:30.600 --> 0:01:37.440 I sometimes act as if I'm well, I'm always scared 0:01:37.480 --> 0:01:39.640 of losing it, right, because I'm like, well, maybe it'll 0:01:39.680 --> 0:01:41.880 never come back, And so I just I like kind 0:01:41.880 --> 0:01:44.959 of like hoard at times too. And so when you 0:01:45.000 --> 0:01:49.760 know you were saying basically you know, tips to think rich, 0:01:50.240 --> 0:01:51.480 and I'm like, all right, let's. 0:01:51.360 --> 0:01:52.520 Just go dive deep. 0:01:52.640 --> 0:01:55.160 How like, how do you how do you do that 0:01:55.280 --> 0:01:57.760 when you're also scared of well, I don't know when 0:01:57.880 --> 0:01:59.760 where the money's coming in, when it's going to come in, 0:01:59.800 --> 0:02:02.560 if it's going to come in, and I have to 0:02:02.560 --> 0:02:05.440 pay for this, that like all the things. How do 0:02:05.480 --> 0:02:08.480 you think that when you already feel like you've got 0:02:08.520 --> 0:02:11.760 a pile of you know, rocks on your chest. 0:02:12.840 --> 0:02:16.760 Yeah, I think it's two main things. And I'll explain them. 0:02:16.880 --> 0:02:20.280 First and foremost, it's automating your life so that your 0:02:20.320 --> 0:02:23.600 life can take care of you. And two, it's something 0:02:23.639 --> 0:02:25.919 that I had to learn in you know, my early 0:02:25.960 --> 0:02:28.920 twenties as a young woman, and it's that not everyone 0:02:29.000 --> 0:02:32.120 is out to get you, Like just because somebody else 0:02:32.160 --> 0:02:35.240 succeeds does not mean you have lost. So to the 0:02:35.240 --> 0:02:39.880 point of automation, I think things become a lot less 0:02:39.919 --> 0:02:43.840 stressful when you know that you have a parachute or 0:02:43.880 --> 0:02:46.720 an eject button or something just to keep you safe. 0:02:46.720 --> 0:02:50.600 And I think that really starts with having an emergency fund. 0:02:51.320 --> 0:02:54.160 I say this not as someone who's just like theoretically 0:02:54.160 --> 0:02:56.600 talking about an emergency fund, but someone who's had to 0:02:56.680 --> 0:03:01.480 use one. When I was bright eyed and bushy tail, 0:03:02.080 --> 0:03:05.720 it was my second year in New York City. You know, 0:03:05.880 --> 0:03:08.400 everything was going great. I was working on Wall Street. 0:03:08.480 --> 0:03:10.919 Me and my roommate had a great first year living together. 0:03:11.080 --> 0:03:13.160 So we decided to move out of that apartment but 0:03:13.240 --> 0:03:16.120 still together, into a new apartment. I had, you know, 0:03:16.240 --> 0:03:18.480 been dating this new guy. I was just really excited 0:03:18.480 --> 0:03:21.920 about life. And the very first weekend that I was 0:03:21.960 --> 0:03:25.160 in this apartment, I actually wasn't there because I was 0:03:25.200 --> 0:03:27.320 in Chicago. I went to the University of Chicago and 0:03:27.400 --> 0:03:31.880 it was I don't know, it's like not like alumni weekend. Yeah, 0:03:31.880 --> 0:03:34.839 maybe like alumni weekend. And it was a reason why 0:03:34.840 --> 0:03:36.640 a bunch of people were going back to campus, and 0:03:36.680 --> 0:03:38.160 it was I was having so much fun and I 0:03:38.160 --> 0:03:40.600 get this text from my roommate, Hey, when you get 0:03:40.600 --> 0:03:41.760 back into town, we had to like sit down and 0:03:41.840 --> 0:03:46.160 have a conversation. And as a millennial, getting that text, 0:03:46.520 --> 0:03:48.520 let me just go ahead and tell you it ruined 0:03:48.520 --> 0:03:51.600 my weekend because I was anxious the whole time. And 0:03:51.600 --> 0:03:53.280 I'm like, are you mad at me? What's going on? 0:03:53.360 --> 0:03:55.680 And she's like, no, it's nothing like that. She's like, 0:03:55.760 --> 0:03:56.560 come home and we'll talk. 0:03:56.600 --> 0:04:00.400 I'm like, okay, I can just tell me, like like I 0:04:00.440 --> 0:04:02.480 don't like that, just just tell me, like are we good? 0:04:02.600 --> 0:04:03.800 Like are we good? 0:04:05.440 --> 0:04:07.680 And so I come back and it's like so ominous, 0:04:07.720 --> 0:04:10.640 and I'm like what, Like what's wrong? And she's like, 0:04:11.960 --> 0:04:13.880 so the very first night that I slept in our 0:04:13.880 --> 0:04:16.880 new apartment, you know, she's like, the lights were all off, 0:04:16.920 --> 0:04:19.080 but I was watching a little bit of like Netflix 0:04:19.080 --> 0:04:20.800 on my phone or whatever, and she's like and it 0:04:20.839 --> 0:04:23.560 was around midnight and I got up out of bed 0:04:23.760 --> 0:04:25.839 and I went to the bathroom to go to the bathroom, 0:04:25.839 --> 0:04:28.039 like to use the toilet right before I went to sleep, 0:04:28.360 --> 0:04:30.279 and I flipped on the light and I saw a 0:04:30.360 --> 0:04:37.599 thousand little things scurry away. Yeah, and I am someone 0:04:37.680 --> 0:04:41.120 who like will put a cup over a bug and 0:04:41.160 --> 0:04:44.159 then the bug owns the apartment. Now, like I don't 0:04:44.200 --> 0:04:46.520 know where I have to go live somewhere else. And 0:04:46.600 --> 0:04:49.000 to hear that come out of her mouth, I would 0:04:49.000 --> 0:04:51.679 have rathered her tell me that she hated my guts 0:04:51.880 --> 0:04:53.600 or that we were having a big flight. I was like, 0:04:54.000 --> 0:04:58.880 this is like worst possible case scenario. And as much 0:04:58.920 --> 0:05:01.960 as we tried to fight, we fought the property manager, 0:05:02.080 --> 0:05:06.000 our landlord, everything, we ended up paying two months of 0:05:06.040 --> 0:05:08.840 rent break our lease and that was eight thousand dollars. 0:05:08.920 --> 0:05:12.840 And it's not fair, not at all. But you know what, 0:05:13.080 --> 0:05:15.640 like we were young twenty somethings, both of us were 0:05:15.640 --> 0:05:17.600 working on Wall Street. Neither of us had the hour, 0:05:17.760 --> 0:05:20.400 like the hours, or the time or the energy to 0:05:20.440 --> 0:05:22.080 fight this in small claims court. 0:05:22.360 --> 0:05:24.680 Right then you're going to lose money paying for lawyers, 0:05:24.760 --> 0:05:25.360 so then relate. 0:05:25.360 --> 0:05:28.800 It's it's going to be a wash. So she and 0:05:28.839 --> 0:05:30.680 I decided to eat it. And it was four thousand 0:05:30.720 --> 0:05:33.440 dollars from her, four thousand dollars for me. And that 0:05:33.640 --> 0:05:39.720 was my entire emergency event. And that was a really 0:05:39.720 --> 0:05:43.520 scary moment because I didn't have much more than that. 0:05:44.480 --> 0:05:48.000 And to feel like I had worked an entire year 0:05:48.200 --> 0:05:51.159 on Wall Street, where I'm putting in these fourteen to 0:05:51.240 --> 0:05:54.640 sixteen hour days, to have absolutely nothing to show for 0:05:54.680 --> 0:05:57.479 it three hundred and sixty five days later was a 0:05:57.520 --> 0:06:02.160 gut punch. And so I'll say that that moment sucked, 0:06:02.880 --> 0:06:07.280 but that moment would have sucked ten times more if 0:06:07.320 --> 0:06:09.840 we couldn't afford to break our lease, if we had 0:06:09.880 --> 0:06:15.200 to living in an apartment that was dangerous. There was 0:06:15.279 --> 0:06:17.640 literally like there were literally cockroaches dying in our ice tray, 0:06:17.720 --> 0:06:19.720 so like they were clearly getting into our fridge, into 0:06:19.760 --> 0:06:24.320 our food, into our dishwasher, into our clothes, like everything. 0:06:24.760 --> 0:06:27.960 And it was not only scary and horrible for our 0:06:28.080 --> 0:06:31.960 emotional and mental health, but like physically like that that 0:06:32.040 --> 0:06:35.280 was like an actual like toxicity and like bacterial concern. 0:06:35.320 --> 0:06:37.760 Well you can't sleep too, like you know what I mean. 0:06:37.839 --> 0:06:39.400 Like I remember one time when I was in La 0:06:39.480 --> 0:06:42.880 I put my foot into one of my little slide 0:06:42.920 --> 0:06:46.360 on shoes and it was there was a cockroach in there, 0:06:46.400 --> 0:06:47.840 and then I felt, I mean it climbed. I mean 0:06:47.880 --> 0:06:49.839 it's to this day it gives me, I'm like, oh, 0:06:50.320 --> 0:06:53.280 like and I couldn't sleep. And then because I'm like, 0:06:53.360 --> 0:06:54.680 is it going to show up next to my bed? 0:06:54.760 --> 0:06:56.960 Is it gonna you know? Is it gonna come in? Disgusting? 0:06:57.680 --> 0:06:59.960 And when you find one, you know there's a bill 0:07:00.400 --> 0:07:02.960 in the wall. So it's just it was a horrible situation, 0:07:03.120 --> 0:07:05.600 but it's really important to automate your life so that 0:07:05.640 --> 0:07:08.120 you have a parachute that you can jump out of 0:07:08.120 --> 0:07:11.040 the plane and you'll be Okay. Did it suck to 0:07:11.200 --> 0:07:13.840 blow all of my money on breaking a lease of 0:07:13.880 --> 0:07:19.640 a horrible, terrible apartment? Yes? Did I feel an immense 0:07:19.760 --> 0:07:23.320 amount of relief after she and I vacuum sealed our 0:07:23.680 --> 0:07:27.480 clothes into a bag air tight for basically seven days, 0:07:28.120 --> 0:07:31.400 moved into a new apartment and never saw a cockroache again? Yes, 0:07:31.520 --> 0:07:33.600 of course it put me in a much better place. 0:07:34.360 --> 0:07:39.000 And then two, I think something that a lot of 0:07:39.120 --> 0:07:44.840 regular people and particular women struggle with is we're haters 0:07:45.440 --> 0:07:47.600 and you don't have to be an out loud hater 0:07:47.800 --> 0:07:49.320 to be a hater. You don't have to be the 0:07:49.400 --> 0:07:52.640 troll commenting you're ugly on somebody's Instagram post to be 0:07:52.720 --> 0:07:56.360 a hater. It's when you see something good happen for 0:07:56.400 --> 0:07:59.680 someone else and you can't even be happy for them. 0:08:00.680 --> 0:08:03.160 You feel like any sort of good thing happening for 0:08:03.200 --> 0:08:05.640 someone else takes away from the good things that can 0:08:05.680 --> 0:08:09.320 happen to you. That is being a hater. And let 0:08:09.320 --> 0:08:11.880 me tell I was the ultimate hater in my twenties. 0:08:11.920 --> 0:08:14.680 In my early twenties, I will say because one I 0:08:14.680 --> 0:08:17.520 worked in an incredibly competitive environment. There were very few women, 0:08:17.600 --> 0:08:19.880 and any time I would see someone else like buying 0:08:20.000 --> 0:08:23.040 for an opportunity, it felt like, you know, I needed 0:08:23.040 --> 0:08:24.640 to do the same thing, and if I didn't get it, 0:08:24.720 --> 0:08:29.760 like that was bad. Like I think that was a 0:08:30.000 --> 0:08:34.120 creation of my environment. You know. I had to compete 0:08:34.120 --> 0:08:36.920 against two other interns for my full time seat and 0:08:36.960 --> 0:08:40.720 I beat them out for it, and I always felt 0:08:40.760 --> 0:08:43.360 like there was someone coming around the corner, like it 0:08:43.400 --> 0:08:45.520 was just like so scary for me, Like to constantly 0:08:45.520 --> 0:08:51.320 feel like the scarcity mindset. And as I've kind of 0:08:51.400 --> 0:08:54.760 grown up and grown into my own skin one, I 0:08:54.800 --> 0:08:57.839 find that I'm a lot more self assured. And it's 0:08:57.880 --> 0:09:00.640 been proven to me time and time again. Just because 0:09:00.679 --> 0:09:03.480 one door closes doesn't mean that there won't be other 0:09:03.559 --> 0:09:07.320 doors down the road that another window won't open for you. 0:09:07.520 --> 0:09:10.040 And I think that's something that we just like need 0:09:10.040 --> 0:09:13.760 to emotionally train ourselves to understand better, because as the 0:09:13.840 --> 0:09:16.720 child of immigrants, it was really hard to feel that 0:09:16.760 --> 0:09:18.320 way for a very long time. 0:09:20.440 --> 0:09:23.520 Yeah, I couldn't imagine that piece of it. I mean, 0:09:23.520 --> 0:09:26.760 I linly, this is not the same at all. I 0:09:28.040 --> 0:09:30.640 single mom, grown up, so it's like, yeah, not having 0:09:30.640 --> 0:09:32.160 like the money. So it's like my mom, you had 0:09:32.200 --> 0:09:33.880 to work a bunch of jobs, and like we couldn't 0:09:34.480 --> 0:09:36.360 do a lot of things we wanted to do because 0:09:36.360 --> 0:09:39.240 and we'd have you know, the I always said, it's 0:09:39.240 --> 0:09:41.400 too even in my twenties, like I'd frozen tiketos every 0:09:41.480 --> 0:09:43.880 day for a year, I'd steal toilet paper from a restaurant. 0:09:43.880 --> 0:09:47.960 Like it's just you know, it's like it's when you 0:09:48.800 --> 0:09:50.720 kind of grow into that. It's like I feel like 0:09:50.720 --> 0:09:52.880 that stayed with me at least in my adulthood. So 0:09:53.480 --> 0:09:56.280 was that immigrant piece too, that does that still make 0:09:56.320 --> 0:09:58.960 you feel that way even now older. 0:10:00.120 --> 0:10:04.920 Percent you know that there's like this research that basically 0:10:04.960 --> 0:10:10.920 shows that your brain after age seven is more of 0:10:11.040 --> 0:10:14.920 like a rock, but before age seven, your brain is 0:10:14.960 --> 0:10:18.520 a sponge. It just that's why it's so much easier 0:10:18.720 --> 0:10:22.280 to learn multiple different languages. And it's not strange to 0:10:22.320 --> 0:10:25.360 see some five year old speaking three different languages, like 0:10:25.440 --> 0:10:27.640 talking to his parents, talking to his grandparents, talking to 0:10:27.679 --> 0:10:29.680 a nanny, talking to the tutor like in a bunch 0:10:29.679 --> 0:10:32.600 of different languages. And it's a lot harder to find 0:10:32.640 --> 0:10:36.200 an adult who can do the same in the same way. 0:10:36.400 --> 0:10:39.520 In the same vein, you develop a lot of your 0:10:39.559 --> 0:10:43.800 money habits young and I grew up the child of 0:10:43.800 --> 0:10:48.079 two my grandparents. I was born on US soil, so 0:10:48.160 --> 0:10:50.040 you know, I've got a blue pass support and I 0:10:50.040 --> 0:10:52.520 think in one way that has given me a lot 0:10:52.600 --> 0:10:58.000 of power and entitlement, but not in the bad way, 0:10:58.200 --> 0:11:00.360 in the way that I feel like I belong here. 0:11:00.880 --> 0:11:03.920 I deserve everything that I have worked hard for. There's 0:11:03.960 --> 0:11:06.280 no one who can take that away from me. I 0:11:06.360 --> 0:11:09.439 deserve to be on the soil. But in the other vein, 0:11:09.760 --> 0:11:13.840 when my parents moved to the US, I was actually, 0:11:15.559 --> 0:11:18.400 you know, I was their first child, their only child, 0:11:18.559 --> 0:11:22.480 and I was basically sent back to China to live 0:11:22.480 --> 0:11:28.199 with my grandparents for two three years before coming back 0:11:28.240 --> 0:11:31.840 to live with my parents because they couldn't afford it. 0:11:32.360 --> 0:11:35.160 They couldn't afford the child care, they could not afford, 0:11:35.360 --> 0:11:37.480 you know, frankly, to clothe or feed me in the 0:11:37.559 --> 0:11:40.920 right way, and they wanted to get their financial footing. 0:11:41.080 --> 0:11:44.200 And so I think, you know, growing up with your 0:11:44.200 --> 0:11:47.400 grandparents is amazing, but I think there is something to 0:11:47.400 --> 0:11:49.120 be said that, Like, I didn't live with my parents 0:11:49.160 --> 0:11:52.040 for the first two years of my life, and I 0:11:52.040 --> 0:11:56.440 think there's also something to be said about growing up 0:11:56.640 --> 0:11:59.960 and feeling other. I would say that I grew up 0:12:01.280 --> 0:12:04.480 at the very beginning I would say lower middle class, 0:12:04.920 --> 0:12:10.720 and by high school I would say upper middle class. 0:12:10.760 --> 0:12:15.640 And I always felt like I needed to keep up 0:12:15.720 --> 0:12:23.080 with my predominantly white peers, and it made me very 0:12:23.160 --> 0:12:27.280 insecure because I would try to wear the same clothes 0:12:27.280 --> 0:12:29.720 and do the same activities, but I wasn't able to 0:12:29.800 --> 0:12:34.320 change the way I looked and because of that, I 0:12:34.320 --> 0:12:38.440 think I used spending money as a way to compensate. So, 0:12:39.040 --> 0:12:41.400 you know, I was that girl who wanted to go 0:12:41.480 --> 0:12:44.400 to the mall every single weekend to get the newest 0:12:44.640 --> 0:12:47.880 T shirt, the newest dress, the new whatever. And the 0:12:47.880 --> 0:12:49.880 biggest fight my mom and I ever got into it 0:12:49.920 --> 0:12:53.240 was over a pair of Abercrombie and Fitch ripped jeans. 0:12:53.840 --> 0:12:54.760 Who you wanted to fit in? 0:12:55.200 --> 0:12:57.600 I wanted to fit in so bad? And I came 0:12:57.640 --> 0:12:59.960 home and my mom saw the receipt in the bag. 0:13:01.160 --> 0:13:03.320 And back then too, like I wasn't alloted shop at 0:13:03.320 --> 0:13:06.560 amercram Base. I mean those are like fifty dollars pants, 0:13:06.640 --> 0:13:07.800 Like are you out of your mind? 0:13:08.000 --> 0:13:08.760 Yeah? 0:13:09.080 --> 0:13:11.960 Yeah, I want to say. This was like right around 0:13:11.960 --> 0:13:14.840 like nine, and obviously I was like young. I didn't 0:13:14.920 --> 0:13:15.760 understand it, Like. 0:13:15.880 --> 0:13:19.520 The housing crisis was like happening, and my parents were 0:13:19.520 --> 0:13:21.360 more stressed about how they were going to pay their 0:13:21.400 --> 0:13:23.920 mortgage and like still safe for me to go to 0:13:23.960 --> 0:13:26.200 college than I really understood. 0:13:26.240 --> 0:13:29.079 And I feel grateful that they like kind of held 0:13:29.080 --> 0:13:32.120 that from me for a little bit. But they were 0:13:32.120 --> 0:13:34.360 really honest. They were brutally honest. They were like I 0:13:34.440 --> 0:13:37.920 remember coming home with these jeans and my mom yelling 0:13:38.000 --> 0:13:40.680 at me and being like, you're so irresponsible. You don't 0:13:40.720 --> 0:13:43.559 understand the value of a dollar. And this is when 0:13:43.600 --> 0:13:48.679 I knew I had like messed up. I said, well, 0:13:49.480 --> 0:13:51.280 the girl that I'd gone to the mall with my friend, 0:13:51.280 --> 0:13:55.000 I was like, well, her her parents are cool with 0:13:55.040 --> 0:13:58.160 her buying ripped jeans, and I think that really hurt 0:13:58.200 --> 0:14:01.800 my mom. And she I could see you, like tears 0:14:01.840 --> 0:14:03.520 like welling up in her eyes, and she said to me, 0:14:03.559 --> 0:14:11.160 She's like, well, her dad's a lawyer and we're not millionaires, 0:14:11.440 --> 0:14:14.880 and we can't do what they can for her for you. 0:14:16.000 --> 0:14:18.840 And I think that was like the first real financial 0:14:18.880 --> 0:14:22.800 wake up call where I realized, like, people don't have 0:14:22.840 --> 0:14:25.720 the same finances even if they live in similar neighborhoods, 0:14:25.800 --> 0:14:27.720 a couple miles down the street from each other. And 0:14:29.920 --> 0:14:33.800 I ran up the stairs, slammed my door, you know, 0:14:34.160 --> 0:14:36.760 bawled my eyes out. And that was kind of the 0:14:36.760 --> 0:14:38.680 moment where I feel like I really made the decision. 0:14:38.720 --> 0:14:41.000 I was like, I want to be rich as fuck 0:14:41.320 --> 0:14:44.640 and I never ever want to worry about money ever again. 0:14:44.720 --> 0:14:46.480 I want to be able to buy whatever I want. 0:14:46.520 --> 0:14:48.200 I want to be able to do whatever I want, 0:14:48.520 --> 0:14:51.200 and money can never be a limiting factor. Money can 0:14:51.240 --> 0:14:52.880 never make me cry like this ever again. 0:14:53.440 --> 0:14:53.840 I get it. 0:14:53.880 --> 0:14:56.480 I mean I want that say, and I want that 0:14:56.520 --> 0:14:58.400 piece for my kids, like I never want them to 0:14:58.440 --> 0:14:59.640 have to not have something. 0:14:59.800 --> 0:14:59.960 Yeah. 0:15:00.080 --> 0:15:02.280 Yeah, Now I'm going to make them work for it, 0:15:02.320 --> 0:15:03.960 like I have already my plan. I'm like, I'm not 0:15:04.000 --> 0:15:05.840 buying you a car. You will work for your car, 0:15:06.280 --> 0:15:07.960 and then I'm going to show you the reward at 0:15:07.960 --> 0:15:09.360 the end of it, which is what my grandpa did 0:15:09.360 --> 0:15:11.720 for my brother. And I love that because it showed 0:15:11.760 --> 0:15:15.480 work ethic. But it also shows that like if you, 0:15:15.480 --> 0:15:17.240 you know, pay your bills on time, like there is 0:15:17.280 --> 0:15:19.240 a you get, you get a little bonus. 0:15:19.320 --> 0:15:19.480 Right. 0:15:33.160 --> 0:15:33.680 I'm curious. 0:15:33.680 --> 0:15:36.800 So in your journey to getting you know, and like 0:15:36.840 --> 0:15:39.080 you said in your book, like rich af like what 0:15:40.200 --> 0:15:40.560 is it? 0:15:40.600 --> 0:15:42.080 Is it for you? Like what's the big thing? 0:15:42.160 --> 0:15:42.320 Is it? 0:15:42.360 --> 0:15:44.280 Investing? Is it? Like? Is it all? 0:15:44.400 --> 0:15:44.560 Is it? 0:15:44.640 --> 0:15:47.400 Mindset? Like what what? What are the main points like 0:15:47.520 --> 0:15:48.640 to get there? 0:15:49.520 --> 0:15:53.440 Yeah? What I do in the book is basically show 0:15:53.600 --> 0:15:57.320 you how rich people think. Because it's not enough for 0:15:57.360 --> 0:15:59.560 me to sit here and say you should budget, you 0:15:59.560 --> 0:16:02.280 shouldn't negotiate for a raise, you should save, you should invest. 0:16:02.320 --> 0:16:04.280 You heard it a thousand times and if you still 0:16:04.320 --> 0:16:06.520 haven't done it, there's a reason why, because you don't 0:16:06.560 --> 0:16:08.960 understand why you need to be doing these things. And 0:16:09.520 --> 0:16:11.560 what is so important for you to understand is the 0:16:11.600 --> 0:16:15.920 mindset behind doing those actions. So I'll give a great example. 0:16:15.920 --> 0:16:21.320 One of my favorites is that we think rich people 0:16:21.320 --> 0:16:24.040 are better than us. We think they're smarter, that they 0:16:24.080 --> 0:16:27.640 work harder, they're bigger, taller, stronger, better, and they're not. 0:16:28.640 --> 0:16:31.720 I'm here to tell you rich people are lazier than 0:16:31.720 --> 0:16:34.800 you and I. They are so much lazier. And you're 0:16:34.800 --> 0:16:37.240 probably thinking, like, that's not true. The guy I saw 0:16:37.240 --> 0:16:39.720 on the cover of Time magazine, he works so hard 0:16:39.760 --> 0:16:42.880 he owns his own company. Like, great, good for you. 0:16:44.280 --> 0:16:49.760 But I'm telling you, first and foremost, no, rich people 0:16:49.840 --> 0:16:52.880 understand the value of labor and they are willing to 0:16:52.960 --> 0:16:58.080 work hard to an extent. But they also recognize that 0:16:59.240 --> 0:17:02.480 you have a human I have a human body. There 0:17:02.480 --> 0:17:04.600 are only so many hours in a day that you 0:17:04.680 --> 0:17:08.960 can work before your body gives out. You have a 0:17:09.040 --> 0:17:11.879 human brain. I have a human brain. There are only 0:17:11.920 --> 0:17:14.480 so many hours a day that your brain can be 0:17:14.640 --> 0:17:18.800 actively functioning and function well. You know what can work 0:17:18.840 --> 0:17:21.880 twenty four to seven, doesn't need to go to the bathroom, 0:17:22.240 --> 0:17:24.840 doesn't need to take a lunch break, doesn't need to 0:17:24.880 --> 0:17:27.000 put on their makeup in the morning, doesn't need to 0:17:27.040 --> 0:17:31.400 commute to and fro your money, Your money can work 0:17:31.440 --> 0:17:35.240 hard for you twenty four to seven. I would say 0:17:35.320 --> 0:17:39.320 your brain and your body. You get about fourteen to 0:17:39.400 --> 0:17:42.120 sixteen hours a day. You'll be burnt out within six 0:17:42.160 --> 0:17:47.480 to twelve months. And there are certainly people who work 0:17:47.480 --> 0:17:51.040 an entire lifetime working like that. There are certainly people 0:17:52.240 --> 0:17:56.640 who don't do that. But if you can make your 0:17:56.760 --> 0:18:02.959 money your partner, your two household income when you're single, 0:18:04.160 --> 0:18:06.920 they are your partner, your money can help you get 0:18:06.920 --> 0:18:09.440 to every single goal you have faster than you can 0:18:09.440 --> 0:18:10.120 do it alone. 0:18:10.359 --> 0:18:11.960 So give us an example. How do we do that? 0:18:12.520 --> 0:18:18.320 Yeah, so, I think you know, when you're talking about investing, 0:18:18.720 --> 0:18:21.440 people think it's de trading. They're like, Okay, I gotta 0:18:21.440 --> 0:18:23.440 put in tons of hours and research and I gotta 0:18:23.440 --> 0:18:25.680 buy like eighteen monitors and then I'm gonna pick the 0:18:25.680 --> 0:18:27.720 perfect stock and it's gonna go up and everything's gonna 0:18:27.720 --> 0:18:31.000 be amazing. Let me tell you, eighty five percent of 0:18:31.040 --> 0:18:34.800 day traders lose money over a past a year. Over 0:18:34.840 --> 0:18:38.840 a long term period, those stats are not good for you. 0:18:39.520 --> 0:18:42.080 And as someone who has worked on Wall Street, I 0:18:42.160 --> 0:18:44.560 saw hedge funds blow up and they weren't even day trading, 0:18:44.560 --> 0:18:47.160 they were just making investment choices. I saw them blow 0:18:47.240 --> 0:18:52.280 up all the time. What I recommend for the average 0:18:52.480 --> 0:18:58.239 Joshmo who has maybe thirty minutes this weekend, maybe an 0:18:58.359 --> 0:19:04.679 hour every month to dedicate to investing, open up a 0:19:04.840 --> 0:19:10.040 tax advantaged investment account. So maybe that is a roth 0:19:10.119 --> 0:19:13.000 IRA or a traditional IRA. Maybe you already have one 0:19:13.040 --> 0:19:14.919 through your employer, like a four to oh one K 0:19:17.160 --> 0:19:19.639 or even just like an individual brokerage account. You're not 0:19:19.640 --> 0:19:24.840 going to necessarily get any immediate tax benefits, but again, 0:19:25.640 --> 0:19:28.480 you pay fewer taxes on investments than you ever would 0:19:28.520 --> 0:19:31.000 on ordinary income as long as you are a long 0:19:31.080 --> 0:19:35.000 term investor. And what you can do is then you 0:19:35.040 --> 0:19:37.880 take cash from your checking in savings account, you put 0:19:37.880 --> 0:19:42.480 it into the investment account. And that's the problem. Everybody 0:19:42.480 --> 0:19:45.320 gets to that step. They're like, I'm done, I'm invested. 0:19:45.359 --> 0:19:47.120 I put money into the you know, wrath ira, I'm 0:19:47.119 --> 0:19:48.800 good to go. No you're not. You're not even close 0:19:48.880 --> 0:19:51.520 to good to go. You need to take that money 0:19:51.600 --> 0:19:53.800 in your roth ira and then you need to buy stuff. 0:19:54.359 --> 0:19:57.480 You've never gone to the grocery store and walked around 0:19:57.480 --> 0:19:59.479 with your purse and then come home and then been 0:19:59.560 --> 0:20:02.000 surprised is that there's no food in your fridge. Like 0:20:02.040 --> 0:20:04.199 you have to buy you know, fruit, you have to 0:20:04.240 --> 0:20:07.040 buy veggies, you have to buy meats, cheeses, breads, whatever. 0:20:07.880 --> 0:20:10.200 And you have to do the same thing with your investing. 0:20:10.320 --> 0:20:12.000 So you've got to open the account. It's just like 0:20:12.080 --> 0:20:14.560 a bag. You got to put cash in that bag. 0:20:14.800 --> 0:20:17.359 You got to go to a grocery store, which you 0:20:17.359 --> 0:20:19.360 know is any sort of brokerage that you're comfortable with, 0:20:19.760 --> 0:20:22.080 and then you have to buy investments. And people are like, 0:20:22.119 --> 0:20:25.800 what investments do I buy? I always say, just pick 0:20:26.160 --> 0:20:29.680 an index fund that tracks either the broader market or 0:20:29.720 --> 0:20:32.240 the S and P five hundred and this will be 0:20:32.240 --> 0:20:34.359 an ETF, this will be a ticker like a VOO 0:20:34.520 --> 0:20:38.080 or a VTI. You don't have to pick zillion things. 0:20:38.600 --> 0:20:41.680 These will be diversified because they are baskets of investments. 0:20:42.080 --> 0:20:45.040 Or just pick a target date retirement fund and with 0:20:45.080 --> 0:20:47.840 that you're pretty much done and you just watch it 0:20:47.880 --> 0:20:51.240 over the long term. Because time in the market beats 0:20:51.280 --> 0:20:55.200 timing the market. Every single time, and it's very challenging 0:20:55.200 --> 0:20:58.000 to pick the perfect investment. As long as you are 0:20:58.119 --> 0:21:00.960 investing early and often you'll be in a pretty good 0:21:00.960 --> 0:21:02.600 spot when you're getting close to retirement. 0:21:04.119 --> 0:21:06.479