WEBVTT - Summer Guest Series Greatest Hits 0:00:00.280 --> 0:00:01.280 Hey ba fam. 0:00:01.400 --> 0:00:05.040 Please follow us on Apple Podcasts and keep our audience growing. 0:00:05.320 --> 0:00:09.040 If your iPhone recently upgraded to iOS fourteen point five, 0:00:09.440 --> 0:00:12.680 head to Apple Podcasts, search for Brown Ambition and click 0:00:12.720 --> 0:00:15.120 on the plus button in the upper right hand corner. 0:00:15.480 --> 0:00:18.120 Do that and you'll be following our show. You can 0:00:18.160 --> 0:00:22.400 also follow us on Spotify, Stitcher, or the Amazon Music app. 0:00:22.640 --> 0:00:25.560 And Android users, we didn't forget about you. You can 0:00:25.560 --> 0:00:42.200 find us on Google Podcasts. 0:00:43.360 --> 0:00:49.600 Now have the time of my life. Okay, just kidding. 0:00:49.720 --> 0:00:52.320 I've really miss Tiffany, but we made it, y'all, and 0:00:52.360 --> 0:00:55.720 I can't thank my guest co host enough for joining 0:00:55.800 --> 0:00:56.959 me and holding. 0:00:56.600 --> 0:00:59.520 My hand through this period of separation. 0:00:59.480 --> 0:01:02.160 While Tip has been on a much needed rest and 0:01:02.240 --> 0:01:05.360 recharge of AKA. I want to thank Chris Browning of 0:01:05.400 --> 0:01:10.039 Popcorn Finance, Berna and Nat from Hey Berna, Jamilas Soufran 0:01:10.160 --> 0:01:12.639 from Journey to Launch, and last but not least, Janice 0:01:12.720 --> 0:01:16.840 Torres Rodriguez from Yo Kioto Dineto Podcast for joining me 0:01:16.920 --> 0:01:18.160 this past month. Y'all. 0:01:18.800 --> 0:01:20.200 I can't believe we made it. 0:01:20.280 --> 0:01:22.720 I had such a good time getting to know these 0:01:22.760 --> 0:01:25.000 guys better, and I feel like I've got four new 0:01:25.040 --> 0:01:26.040 financial besties. 0:01:26.080 --> 0:01:26.560 Already. 0:01:27.120 --> 0:01:30.400 Now, this reference is strictly for the millennials, so boomers 0:01:30.440 --> 0:01:33.960 and gen zers, sorry, not sorry. Do y'all remember those 0:01:34.000 --> 0:01:36.800 old episodes of Saved by the Bell where they meet 0:01:36.880 --> 0:01:39.440 up at the Max and they reminisce about the school 0:01:39.520 --> 0:01:42.440 year and they look longingly at nothing in particular in 0:01:42.480 --> 0:01:46.199 the distance, and then it happens the screen goes all 0:01:46.240 --> 0:01:49.680 squiggly and you realize it's one of those episodes. A 0:01:49.800 --> 0:01:53.760 recap of some of the best moments from the season's past. Well, 0:01:53.920 --> 0:01:57.120 here we go, Bayside Tigers, I mean, ba fam, I 0:01:57.160 --> 0:01:59.800 am about to walk down memory lane and replace some 0:01:59.840 --> 0:02:03.680 of the most memorable moments from our summer co host series. 0:02:04.200 --> 0:02:06.920 This is the greatest hits over the last month, and 0:02:06.960 --> 0:02:09.320 I hope you guys enjoy them as much as I 0:02:09.400 --> 0:02:12.680 did getting to relive some of these conversations when I'm 0:02:12.680 --> 0:02:15.519 in the co host chair. Honestly, sometimes I told Berna 0:02:15.560 --> 0:02:16.760 this when we had lunch last week. 0:02:16.840 --> 0:02:19.360 Yeah, we like hang out now, I told her that. 0:02:19.919 --> 0:02:22.520 Honestly, sometimes I feel like I had these conversations and 0:02:22.560 --> 0:02:26.160 I semi blackout and I have a hard time remembering. 0:02:26.200 --> 0:02:28.600 So it was really fun to walk back down memory lane. 0:02:28.840 --> 0:02:30.480 And pick out what I thought were some of the 0:02:30.560 --> 0:02:34.000 really poignant and powerful moments that I had recording with 0:02:34.080 --> 0:02:35.240 these amazing co hosts. 0:02:35.280 --> 0:02:36.280 So sit back and. 0:02:36.200 --> 0:02:41.440 Relax and enjoy this look back Q the Squiggly Dreamy 0:02:41.720 --> 0:02:42.720 music Cali. 0:02:47.160 --> 0:02:47.560 Okay. 0:02:47.760 --> 0:02:50.919 Our first trip down memory Lane starts with my conversation 0:02:51.080 --> 0:02:53.560 with the wonderful Chris Browning. He and I took a 0:02:53.639 --> 0:02:57.280 question from listener Lachine, who was asking about the difference 0:02:57.320 --> 0:03:01.800 between having a budgeting problem in an income problem. Lachine says, 0:03:01.840 --> 0:03:04.280 I just found your podcast after buying Tiffany's book, and 0:03:04.280 --> 0:03:07.079 I'm obsessed in her book, which is I will add 0:03:07.080 --> 0:03:09.640 here you guys called Get Good with Money, which you 0:03:09.680 --> 0:03:12.280 can get at get goodwith Money dot com. It's an 0:03:12.280 --> 0:03:16.320 eight week national wait, eight week New York Times bestseller. 0:03:16.360 --> 0:03:19.520 At this point, it's insane anyway, So Lachen found us 0:03:19.520 --> 0:03:22.239 through her book. She says, in the book, Tiffany talked 0:03:22.280 --> 0:03:25.280 about determining if you have a budgeting problem or an 0:03:25.320 --> 0:03:28.480 income slash earning problem, and I think I have an 0:03:28.480 --> 0:03:31.360 earning problem. When I wanted to get y'all's opinion, I 0:03:31.400 --> 0:03:35.120 make fifty thousand dollars a year after taxes and insurance 0:03:35.480 --> 0:03:39.240 and my retirement retirement savings. I'm left with about twenty 0:03:39.320 --> 0:03:43.040 nine hundred dollars per month. I can comfortably pay my bills, 0:03:43.440 --> 0:03:45.960 save for travel, and add money to my IRA, but 0:03:46.000 --> 0:03:49.200 that's about it. I want to save more, but there's 0:03:49.240 --> 0:03:51.880 nowhere else in my budget. I feel like I can 0:03:51.920 --> 0:03:55.240 slice and dice. What do you guys think? So, what's 0:03:55.280 --> 0:03:57.440 your take on like a budget versus an income problem? 0:03:57.520 --> 0:04:01.480 Chris, This is a great questquestion here, and I think 0:04:01.760 --> 0:04:04.480 sometimes we do get trapped in they Okay, let's let's budget, 0:04:04.560 --> 0:04:06.720 let's cut and let's save where we can. Which is 0:04:06.720 --> 0:04:09.120 good to go through and evaluate your budget and see 0:04:09.120 --> 0:04:12.720 where you're maybe wasting money. But the only thing is 0:04:12.800 --> 0:04:15.200 you can only cut so much. If you've already you 0:04:15.320 --> 0:04:17.680 got your stuff under control, and you're really diligent with 0:04:17.720 --> 0:04:19.360 how you spend, you're going to get to a point 0:04:19.400 --> 0:04:21.640 where you just can't cut anything else. And if you 0:04:22.160 --> 0:04:25.200 want to increase your or increase the money available to 0:04:25.240 --> 0:04:27.839 invest and do other things with, yeah, you have to 0:04:27.880 --> 0:04:32.480 make more, which is it's much harder than cutting, but 0:04:32.520 --> 0:04:34.440 it's way more impactful in the long run. 0:04:35.000 --> 0:04:35.240 Yeah. 0:04:35.360 --> 0:04:37.720 I mean, if you guys need to hear it here first, 0:04:37.720 --> 0:04:40.480 although I'm pretty sure we've said it before, you cannot 0:04:40.520 --> 0:04:43.000 budget your way to wealth building. You can't do it. 0:04:43.360 --> 0:04:46.240 You cannot become rich by budgeting. You can get part 0:04:46.279 --> 0:04:49.200 of the way there, certainly you can, and it's certainly 0:04:49.200 --> 0:04:52.599 a good starting point, and I think most levels you 0:04:52.600 --> 0:04:54.440 should have at least an idea of what's going in 0:04:54.480 --> 0:04:57.480 and what's going out and what's left over. Budgeting is amazing, 0:04:57.560 --> 0:04:59.719 but it ain't going to get you there, and I 0:04:59.760 --> 0:05:02.640 think I think it definitely sounds like if you're to 0:05:02.680 --> 0:05:05.240 the point where you want to put more money away 0:05:05.320 --> 0:05:07.839 and you just don't have it and you can't. Literally 0:05:07.880 --> 0:05:09.600 you've looked at the budget and you're like, what am 0:05:09.600 --> 0:05:12.159 I gonna do? Like live in my car? You can't, 0:05:12.279 --> 0:05:14.320 you know, there's nothing else to slice and dice, like 0:05:14.360 --> 0:05:16.919 you say, so it is time to start looking at 0:05:16.960 --> 0:05:20.240 a couple different things. I am huge about the impact 0:05:20.800 --> 0:05:23.440 your career. I'm very passionate about the impact that your 0:05:23.480 --> 0:05:27.039 career choices can have in helping you accumulate wealth. And 0:05:27.080 --> 0:05:30.599 I'm also huge on looking for additional income streams on 0:05:30.680 --> 0:05:33.120 top of, you know, outside of your nine to five 0:05:33.200 --> 0:05:35.600 job or whatever work you happen to do so that 0:05:35.680 --> 0:05:39.440 you diversify the income streams that you have. After a 0:05:39.480 --> 0:05:41.800 year like this, it certainly feels like a lot of 0:05:41.839 --> 0:05:46.520 people were turning to side hobbies or side hustles as 0:05:46.600 --> 0:05:49.400 they say, you know, you're starting their own businesses to 0:05:49.480 --> 0:05:51.600 bring in extra money. Because it was a real kick 0:05:51.640 --> 0:05:54.479 in the ass, you know, to realize how vulnerable we 0:05:54.520 --> 0:05:57.080 all were, especially those of us who were tied to 0:05:57.120 --> 0:05:59.960 a nine to five job that either you had layoffs 0:06:00.040 --> 0:06:01.880 sort of cut back hours. I mean, it all felt 0:06:01.960 --> 0:06:06.560 very like scary and a good reminder about the importance 0:06:06.600 --> 0:06:10.039 of having those different income streams. So, I mean, Chris, 0:06:10.040 --> 0:06:12.719 both and I You and I both have podcasts. You know, 0:06:12.800 --> 0:06:14.240 I don't think either of us is rolling in the 0:06:14.279 --> 0:06:18.480 dough from the podcast life, but especially not that you're 0:06:18.480 --> 0:06:21.800 getting all the upgraded equipment that it sounds like you're accumulating. 0:06:22.400 --> 0:06:25.120 But you know, talk about like the podcast and what 0:06:25.160 --> 0:06:27.240 other what do you what do you think about different 0:06:27.240 --> 0:06:29.599 income streams and how someone could you know, bring in 0:06:29.680 --> 0:06:30.279 extra wealth. 0:06:31.200 --> 0:06:34.040 Yeah, I mean, obviously I'm I'm a fan of doing 0:06:34.040 --> 0:06:36.920 other things and building other streams of income and businesses 0:06:36.960 --> 0:06:39.159 and just things you own on your own because one, 0:06:39.240 --> 0:06:41.400 I just enjoy the process of making something and having 0:06:41.400 --> 0:06:43.560 it something that I've created is just it's just a 0:06:43.600 --> 0:06:45.400 cool experience. It just I don't know, it makes you 0:06:45.400 --> 0:06:47.360 feel good, like, look, I've made this thing. I've put 0:06:47.360 --> 0:06:50.599 my time and sweat into this, and it's here. So 0:06:50.839 --> 0:06:53.680 I'm definitely for finding things that you're you're passionate about, 0:06:54.160 --> 0:06:56.400 that you enjoy doing, that you see an opportunity to 0:06:56.520 --> 0:06:59.560 have a viable business doing and pursuing those because, like 0:06:59.640 --> 0:07:02.320 you said, you know, jobs are secure until they're not 0:07:02.640 --> 0:07:05.560 until something happens where they need to move on from you. 0:07:06.880 --> 0:07:10.160 You know, things could change overnight. But just like you, 0:07:10.560 --> 0:07:14.800 I'm a huge fan of growing within your career. That 0:07:14.920 --> 0:07:16.640 was one of the biggest things that helped us get 0:07:16.680 --> 0:07:18.920 out of debt when my wife and I kind of 0:07:18.920 --> 0:07:22.080 got serious about our finances. We had about twenty seven 0:07:22.120 --> 0:07:24.320 thousand dollars in credit card debt and we were taking 0:07:24.400 --> 0:07:27.280 home like forty five thousand dollars between the two of us, 0:07:27.880 --> 0:07:30.640 which was not enough money and not especially not in 0:07:30.680 --> 0:07:32.080 southern California. It is not much. 0:07:32.120 --> 0:07:32.760 Did you do that? 0:07:33.840 --> 0:07:37.000 Wow? It was rough. We were living in a tiny house, 0:07:37.720 --> 0:07:43.040 a very small studio, for several years, and really we 0:07:43.480 --> 0:07:45.400 cut our budget down to like nothing, like we were 0:07:45.400 --> 0:07:48.880 not having any fun, Like nothing was getting spent that 0:07:48.920 --> 0:07:51.960 didn't need to be spent, and it still was going 0:07:52.200 --> 0:07:55.360 so slow. It was it was such a long journey. 0:07:55.400 --> 0:07:57.400 And so for me, that's what I went and I 0:07:57.440 --> 0:08:00.040 looked at, Okay, this is how much I'm making. I 0:08:00.080 --> 0:08:01.920 think at the time, I've got how much I was 0:08:01.920 --> 0:08:04.320 making by myself, but it wasn't. I clearly wasn't a lot. 0:08:04.640 --> 0:08:06.680 What do I need to do? And so that's when 0:08:06.680 --> 0:08:09.240 I started saying, all right, what professional organizations can I join. 0:08:09.240 --> 0:08:12.400 I started joining these different groups for bookkeepers, and I 0:08:12.440 --> 0:08:15.520 would go to conferences and I would help organize as speakers, 0:08:15.520 --> 0:08:17.640 and then I would meet other people from other places, 0:08:17.680 --> 0:08:20.560 and I would find out about new openings and build 0:08:20.640 --> 0:08:22.880 up my resumes. When I applied for the next job, 0:08:22.920 --> 0:08:24.640 it's like, oh, you did all of this, Like oh yeah, 0:08:24.640 --> 0:08:26.400 you know, you can kind of pump yourself up. And 0:08:26.440 --> 0:08:28.840 so doing things like that it allowed me to increase 0:08:28.880 --> 0:08:31.040 my income so much faster than if I would have 0:08:31.080 --> 0:08:33.360 just stayed at my one job and hoped for a 0:08:33.480 --> 0:08:35.480 nice raise, which wasn't going to gum. 0:08:35.600 --> 0:08:38.199 What were you doing at the time. Your backgrounds in accounting. 0:08:38.840 --> 0:08:41.360 Uh, yeah, like accounting and bookkeeping work. So at the time, 0:08:41.440 --> 0:08:43.880 I was a payroll supervisor. I was running a perill 0:08:43.920 --> 0:08:47.319 department at a school district actually, and. 0:08:48.040 --> 0:08:51.320 You're managing paychecks and trying to get a bigger one exactly. 0:08:51.760 --> 0:08:53.760 I would see everyone who was making more money than 0:08:53.760 --> 0:08:55.200 me and be like, all right, I need to do 0:08:55.280 --> 0:08:55.880 something about this. 0:08:56.000 --> 0:08:57.079 That's going to be really depressed. 0:08:58.400 --> 0:08:59.360 Were desperational? 0:09:00.600 --> 0:09:02.480 You don't when you see some of those payeests, You're like, 0:09:02.480 --> 0:09:04.360 I don't know what these people are doing right now, 0:09:04.400 --> 0:09:06.600 but I need to make some changes and get one 0:09:06.640 --> 0:09:08.240 of these because it's. 0:09:08.080 --> 0:09:09.080 Way more than I'm reading. 0:09:09.440 --> 0:09:11.280 You know, it's bad if you're like jealous of a 0:09:11.559 --> 0:09:13.480 like a I don't know what kind of school teachers 0:09:13.480 --> 0:09:16.959 these were, but I'm feeling like a middle school math 0:09:17.000 --> 0:09:19.840 teacher is making more. It's like, ooh, okay. 0:09:19.559 --> 0:09:20.000 It's time. 0:09:21.200 --> 0:09:22.880 Yeah. I was like, because we all know teachers aren't 0:09:22.920 --> 0:09:25.120 paid that well, and I was getting paid a lot 0:09:25.160 --> 0:09:26.880 less than than the majority of teachers. 0:09:27.280 --> 0:09:30.880 That's a crime. Yeah, I've I love that, you know. 0:09:31.000 --> 0:09:34.360 I was recently celebrating with my husband because we've really 0:09:34.360 --> 0:09:37.559 been focused on increasing our net worth, and we did 0:09:37.600 --> 0:09:39.920 the math with our planner and realized that we have 0:09:40.400 --> 0:09:43.080 increased our net worth by tenfold in the last five years. 0:09:43.360 --> 0:09:43.720 Wow. 0:09:43.760 --> 0:09:45.960 And I was I was sitting down and we're gonna 0:09:45.960 --> 0:09:48.360 do I'm gonna do a specific show about it. But 0:09:48.520 --> 0:09:50.920 as I was sitting through and working through, you know, 0:09:50.960 --> 0:09:53.240 how did we do this? I'll tell you one thing. 0:09:53.360 --> 0:09:58.000 It wasn't by budgeting the most significant, the biggest reasons. 0:09:58.040 --> 0:10:00.319 And I part of me almost feels a lot, or 0:10:00.400 --> 0:10:05.520 used to feel a little, not ashamed. But I think 0:10:05.559 --> 0:10:09.000 people want to hear that we just pulled ourselves up 0:10:09.040 --> 0:10:11.880 by our bootstraps and you know, we coopon clipped and 0:10:12.080 --> 0:10:16.200 we were good people and we just worked real hard. 0:10:16.280 --> 0:10:19.480 They want to hear that kind of story. But the 0:10:19.600 --> 0:10:24.559 truth is was that I was super ruthless with pursuing 0:10:25.160 --> 0:10:29.040 new opportunities when two things were true. When I could 0:10:29.120 --> 0:10:32.920 earn significantly more and when I could challenge myself professionally, 0:10:33.040 --> 0:10:35.559 So when I could when I was offered, when I 0:10:35.720 --> 0:10:37.360 was offered I was in other jobs, and when I 0:10:37.480 --> 0:10:40.840 was offered opportunities to move to a different company. As 0:10:40.880 --> 0:10:45.080 long as the opportunity was professionally rich like I could. 0:10:45.320 --> 0:10:47.400 I was learning a new skill, I was getting to 0:10:47.559 --> 0:10:50.040 try a new position or something like that, and it 0:10:50.120 --> 0:10:53.599 came with additional income. I was definitely willing to take it. 0:10:53.720 --> 0:10:57.960 And I was very risky with some of my career choices, 0:10:58.480 --> 0:11:01.160 and they could have gone the other way entirely, you know, 0:11:01.280 --> 0:11:06.280 without with risk comes rewards or you know, disaster. But 0:11:06.480 --> 0:11:09.000 it was because of those choices I was able to negotiate, 0:11:09.520 --> 0:11:14.600 you know, thirty percent fifty percent raises equity in companies 0:11:14.640 --> 0:11:17.240 that I was joining, which opened me up to even 0:11:17.440 --> 0:11:21.920 additional opportunities to build wealth as long as that stock 0:11:22.000 --> 0:11:24.360 price in that company went up, which I was fortunate 0:11:24.480 --> 0:11:27.679 enough to have that happen sometimes. So like, those are 0:11:27.720 --> 0:11:31.000 the types of things that that I'm I'm ready to 0:11:31.120 --> 0:11:33.120 just be honest about it because there's. 0:11:32.920 --> 0:11:33.520 No shame in it. 0:11:33.559 --> 0:11:36.680 In fact, I had to do it. I'm a black 0:11:36.720 --> 0:11:39.000 woman in America, you know, like we don't make that 0:11:39.120 --> 0:11:42.920 much money. We make sixty percent of what a white 0:11:43.000 --> 0:11:46.240 man earns. So for me, I just always thought about 0:11:47.200 --> 0:11:49.280 when I went into like a salary negotiation or when 0:11:49.320 --> 0:11:52.280 I was approached by a competitor or a different company 0:11:52.360 --> 0:11:54.640 to come work for them. I really looked at that 0:11:54.679 --> 0:11:57.320 as an opportunity. It's often the best opportunity you can 0:11:57.400 --> 0:12:01.199 get to negotiate a higher salary and staying at the 0:12:01.240 --> 0:12:02.480 same place for a long time. 0:12:03.000 --> 0:12:05.360 It ain't it, y'all. It is not it in terms of. 0:12:05.840 --> 0:12:08.199 In terms of salary growth, especially if you came in 0:12:08.400 --> 0:12:12.120 entry level, that is not the way to increase your 0:12:12.200 --> 0:12:14.559 income unless. I mean, you can stay there if you 0:12:14.600 --> 0:12:17.320 love your job. But then you got to start side hustling, 0:12:17.520 --> 0:12:20.240 you know, get a side business or take a hobby 0:12:20.360 --> 0:12:23.280 and start bringing in cash, you know, on top of 0:12:23.360 --> 0:12:27.520 your earnings. But loyalty does not pay in corporate America. 0:12:27.640 --> 0:12:28.160 It doesn't. 0:12:28.280 --> 0:12:29.079 I'm proof of that. 0:12:29.640 --> 0:12:32.520 I really had to make those big, scary leaps to 0:12:32.679 --> 0:12:35.720 get to where I am today, to get those bigger paydays. 0:12:36.679 --> 0:12:39.640 No, I mean, I love that so much because I've 0:12:39.720 --> 0:12:43.280 seen it where in a situation no one I won't 0:12:43.320 --> 0:12:45.000 name a place so no one can figure out what 0:12:45.080 --> 0:12:47.160 I'm talking about, But that was the place. 0:12:47.280 --> 0:12:50.160 We'll leave Chris alone. Don't get in, don't get them 0:12:50.200 --> 0:12:50.559 in trouble. 0:12:50.600 --> 0:12:52.520 Don't get me a trouble. Please don't go research this place. 0:12:52.720 --> 0:12:54.720 But I was working at this place. There's a woman there. 0:12:54.800 --> 0:12:57.240 She was amazing at her job. She was amazing, and 0:12:57.480 --> 0:12:59.160 she just wanted She didn't I didn't think she was 0:12:59.200 --> 0:13:01.400 asking for a race, just wanted a better title than 0:13:01.440 --> 0:13:04.880 what she had. And they're like, no, we can't do that. 0:13:05.000 --> 0:13:07.000 I'm sorry, it's something so easy. They were like, no, 0:13:07.120 --> 0:13:09.559 we can't do that, but but you're great. So she's like, 0:13:09.600 --> 0:13:10.719 you know what, all right, I'm out of here. So 0:13:10.800 --> 0:13:12.800 she left, got a better job, got the title she wanted, 0:13:12.840 --> 0:13:15.079 and got to pay raise the person they brought in 0:13:15.160 --> 0:13:17.720 to replace her. They gave the title that she wanted 0:13:18.280 --> 0:13:20.400 and more money, and it was like they could have 0:13:20.440 --> 0:13:22.240 done it all along, but it was just like, well, 0:13:22.360 --> 0:13:25.000 they think we have you here, you're not going to leave, 0:13:25.360 --> 0:13:27.960 so we're not going to do anything. And that's where 0:13:27.960 --> 0:13:29.480 you like, I mean, I agree with you one hundred percent. 0:13:29.520 --> 0:13:31.240 That's That's the only way you're going to make these 0:13:31.240 --> 0:13:34.719 significant leaps sometimes is to define better opportunities outside of 0:13:34.720 --> 0:13:37.040 where you are, because they have no incentive to make 0:13:37.080 --> 0:13:38.359 your pay jump significantly. 0:13:39.160 --> 0:13:41.880 And you may think that they're the nicest people. You know, 0:13:42.040 --> 0:13:44.120 they've come to your house warming parties, they gave you 0:13:44.160 --> 0:13:46.000 a nice little gift when you had a baby or 0:13:46.080 --> 0:13:48.920 you got married. It does like they're not going. It 0:13:49.000 --> 0:13:51.160 takes a lot of effort. I was that manager who 0:13:51.280 --> 0:13:54.080 really fought for raises and promotions for my people when 0:13:54.120 --> 0:13:56.480 I didn't have to because I wanted to retain them. 0:13:57.160 --> 0:13:59.440 I and there were plenty of people who just don't 0:13:59.480 --> 0:14:01.240 do that because it takes a lot of time. It 0:14:01.440 --> 0:14:04.199 takes effort. You got to like do your research. You 0:14:04.280 --> 0:14:06.520 got a bat for people. It's just not in a 0:14:06.559 --> 0:14:09.600 lot of people's best interests to go to bat for folks. 0:14:09.679 --> 0:14:12.120 That's work. So yeah, I love that example. I mean, 0:14:12.160 --> 0:14:14.760 I hate it, but it's a really good example of 0:14:14.840 --> 0:14:17.680 what we're talking about here. Loyalty does not pay, y'all. 0:14:19.280 --> 0:14:21.640 But I want to talk a bit about before we 0:14:21.720 --> 0:14:24.440 get to the next question about starting a new business. 0:14:24.560 --> 0:14:26.560 Like I literally I'm at a point where I just 0:14:26.600 --> 0:14:30.560 started a new business. Hello guys, I'm I'm the CEO 0:14:31.240 --> 0:14:35.160 and founder of Mandy Money Media, which is a independent 0:14:35.560 --> 0:14:38.920 content consulting firm and editing and writing business. 0:14:39.120 --> 0:14:41.920 Yay, do I get the kind of thanks? You know, 0:14:42.280 --> 0:14:42.960 do my own thing. 0:14:43.080 --> 0:14:46.800 After a long, well like a decade of experience, I'm 0:14:47.280 --> 0:14:49.760 striking out on my own and what's so fun for 0:14:49.880 --> 0:14:52.800 me has been doing these things. Like I filed for 0:14:52.840 --> 0:14:56.160 an LLC. It's shockingly easy to do this, y'all. You 0:14:56.280 --> 0:14:58.200 just need a little bit of money and like Google, 0:14:58.240 --> 0:14:59.880 like you just had a Google. If you go to 0:14:59.880 --> 0:15:03.440 your state's Department of Labor website or just google your 0:15:03.520 --> 0:15:07.480 state LLC, it'll have a very easy to fill out form, 0:15:07.840 --> 0:15:11.000 pick your name, give them your little coins. I had 0:15:11.080 --> 0:15:13.960 it within minutes. I got approved and got my my 0:15:14.600 --> 0:15:17.600 LLC established, and then it's what the irs do? Did 0:15:17.640 --> 0:15:21.200 you do this yet? We get a taxpayer or an 0:15:21.240 --> 0:15:23.840 employee ID number through the i RS dot gov. 0:15:25.120 --> 0:15:26.640 That's such an easy process. And then you don't have 0:15:26.640 --> 0:15:29.080 to give people your Social Security number either. Yeah. 0:15:29.240 --> 0:15:30.680 I mean I think I might have to like get it, 0:15:30.800 --> 0:15:33.440 but yeah, it took. I was I was shocked. It 0:15:33.600 --> 0:15:35.640 was instantly, Oh, here's your e I N. Here you go. 0:15:36.200 --> 0:15:37.840 And once I had that EI N, what did I do? 0:15:37.920 --> 0:15:39.960 I went and got a business bank account, just did 0:15:40.040 --> 0:15:42.440 some googles to find the best one. Although I will say, 0:15:42.480 --> 0:15:44.400 I don't know if you have a business bank account 0:15:44.440 --> 0:15:46.120 or credit card yet, do you? Uh? 0:15:46.200 --> 0:15:47.920 Yeah, I do have the credit card. I've not gone 0:15:47.960 --> 0:15:50.040 the banking route. I'm still I mean, I probably shouldn't 0:15:50.040 --> 0:15:53.440 be saying this out loud, but yeah, maybe you lessnings 0:15:53.480 --> 0:15:55.320 and personal accounts as business accounts right now. 0:15:55.840 --> 0:15:56.640 You know, that's cool. 0:15:56.680 --> 0:15:58.880 It depends on how you. I did learn that, you know, 0:15:58.920 --> 0:16:00.640 when I was trying to decide whether to do an 0:16:00.960 --> 0:16:04.000 LLC or work as a sole proprietor. It's very different, 0:16:04.320 --> 0:16:07.440 like in terms of how how you can commingle your 0:16:07.520 --> 0:16:11.560 personal versus professional expenses and things like that. But definitely 0:16:11.640 --> 0:16:13.360 I got a the one with my CPA and he 0:16:13.520 --> 0:16:15.120 was like, LLC is the way to go. So that's 0:16:15.160 --> 0:16:18.320 what I did. And yeah, but the EI N it 0:16:18.360 --> 0:16:21.240 took seconds. And the oh, the business bank account. What 0:16:21.280 --> 0:16:23.760 I was going to say, is I because that's I wanted. 0:16:23.880 --> 0:16:27.840 I'm going to get paid soon, hopefully hopefully soon from clients. 0:16:28.520 --> 0:16:31.040 You know, I'm manifesting it like my husband installing his 0:16:31.120 --> 0:16:34.520 Tesla charger five months before he actually had a Tesla. 0:16:35.720 --> 0:16:36.440 I'm going to get this. 0:16:36.520 --> 0:16:39.560 I got a bank account through a online bank, and 0:16:39.760 --> 0:16:42.560 it was kind of hard to find a fee free 0:16:42.920 --> 0:16:45.120 business bank account. It seems like a lot of them 0:16:45.240 --> 0:16:49.440 charge They either have a minimum required balance, which I 0:16:49.480 --> 0:16:51.040 don't know if I'm gonna make I'm gonna make money, 0:16:51.080 --> 0:16:53.400 but like I can't, I can't commit right now that 0:16:53.480 --> 0:16:56.040 I'm going to be making a certain amount. Yeah, so 0:16:56.200 --> 0:17:00.080 it took a lot of comparing and contrasting, but I 0:17:00.160 --> 0:17:02.560 definitely I was able to get one. And you have 0:17:02.720 --> 0:17:05.600 to have your EI N in order to get one 0:17:05.640 --> 0:17:09.680 set up. And then I got approved for a personal sorry, 0:17:09.720 --> 0:17:10.680 a business credit. 0:17:10.480 --> 0:17:13.200 Card, which was exciting. So it's it. 0:17:13.359 --> 0:17:13.920 You can do it. 0:17:14.040 --> 0:17:16.480 And look, I'm a business who. You can't tell me nothing. 0:17:16.520 --> 0:17:20.040 I'm a business owner, right, I don't need a storefront. 0:17:21.520 --> 0:17:22.040 I'm doing it. 0:17:22.480 --> 0:17:24.320 It's so different than what people thought of, Like what 0:17:24.680 --> 0:17:26.119 people I think we have a much different image in 0:17:26.160 --> 0:17:28.280 our head of what it takes to be a business owner. 0:17:28.320 --> 0:17:31.040 It's it's so it's such an easy process these days. 0:17:31.560 --> 0:17:32.200 It really is. 0:17:32.400 --> 0:17:35.040 So I hope that that motivates y'all and inspires you 0:17:35.160 --> 0:17:37.800 to to look at you know, if you if you're 0:17:37.880 --> 0:17:40.000 like me and you've been doing something for a long time, 0:17:40.880 --> 0:17:43.080 you know, and you realize you've got a certain set 0:17:43.119 --> 0:17:46.800 of skills that companies would pay to take advantage of 0:17:46.920 --> 0:17:50.080 or leverage you know, that's a way of like let's 0:17:50.080 --> 0:17:51.960 say I was still doing my you know, had a 0:17:52.040 --> 0:17:55.480 nine to five job, I could I could feasibly do 0:17:55.600 --> 0:17:58.200 this on the side and just bring in some extra income, 0:17:58.880 --> 0:18:02.480 and that's the beginning again to true wealth building. So 0:18:03.280 --> 0:18:05.880 I love that Tiffany covered that in her book Get 0:18:05.960 --> 0:18:08.040 It with Money dot Com. Y'all check out the book. 0:18:08.240 --> 0:18:09.760 I love that she covered that in the book because 0:18:09.760 --> 0:18:12.159 it really is like it's the next level from just 0:18:12.240 --> 0:18:14.760 basic budgeting, really focusing on your income. 0:18:15.400 --> 0:18:17.560 Yeah, it really is such a great idea. And you know, 0:18:17.680 --> 0:18:19.880 what I've started to discover too, is that the bar 0:18:20.040 --> 0:18:22.840 is actually very low for a lot of what people 0:18:22.920 --> 0:18:27.159 consider good work. I'm very shocked for whatever it's right 0:18:28.440 --> 0:18:30.719 in my mind, it's like people are like, if you're 0:18:30.720 --> 0:18:32.520 going to do something for a company, it's like it 0:18:32.640 --> 0:18:34.840 has to be the best thing that's ever been made. 0:18:35.040 --> 0:18:37.280 But I've I've I'm not gonna again, I'm not going 0:18:37.359 --> 0:18:40.920 to name any companies, but I've I've witnessed some some 0:18:41.040 --> 0:18:43.360 businesses doing work that I'm like, that's all it took 0:18:43.400 --> 0:18:44.520 for you to get paid, And well, I guess I 0:18:44.600 --> 0:18:46.680 need to step it up and do some other things. 0:18:47.760 --> 0:18:50.879 I know well in my career, I've employed people like myself, 0:18:50.920 --> 0:18:53.359 and I'm like, I know exactly how much mediocrity there 0:18:53.440 --> 0:18:54.720 is out there. I'm going to go out there and 0:18:54.800 --> 0:18:56.720 be the best and it's not going to be that 0:18:56.920 --> 0:18:59.440 hard because it's a lot of medio group. Okay, not 0:18:59.560 --> 0:19:03.800 the shade anybody. But it's a really good point. It 0:19:03.880 --> 0:19:07.439 truly is, and I yeah, I'm excited about this new journey. 0:19:07.520 --> 0:19:11.040 And thank you Lashen for your question and for checking 0:19:11.040 --> 0:19:46.399 out our podcast. I love that. All right, Next up, 0:19:46.440 --> 0:19:48.800 we have a snippet. It was really hard to pick 0:19:48.840 --> 0:19:51.920 a favorite nugget from my conversation with Berna A. Natt, 0:19:52.440 --> 0:19:55.280 but I did think that this particular part of the 0:19:55.320 --> 0:19:57.760 conversation when we were taking a question from a listener 0:19:57.880 --> 0:20:00.240 wanting to know whether or not they shou you go 0:20:00.320 --> 0:20:02.320 for a traditional or a wroth for a one K, 0:20:02.800 --> 0:20:05.840 it really unlocked and interesting point that Berna made about 0:20:05.880 --> 0:20:09.240 this key part in our young adulting lives. So let's 0:20:09.640 --> 0:20:13.240 check in and see how Berna tackled this topic. I 0:20:13.400 --> 0:20:15.680 was recently hired at a university and I'm trying to 0:20:15.720 --> 0:20:18.359 determine if it's better for my future self to have 0:20:18.480 --> 0:20:20.399 money taken out of my paycheck and put into my 0:20:20.560 --> 0:20:21.720 four oh one K pre. 0:20:21.800 --> 0:20:23.359 Tax or after tax. 0:20:23.720 --> 0:20:26.120 Wouldn't I have a tax advantage if it's taken from 0:20:26.160 --> 0:20:31.320 my paycheck after tax. Listen, there's not really a wrong 0:20:31.400 --> 0:20:35.440 answer here, and I do so, and I this is 0:20:35.480 --> 0:20:37.600 a specific question that I definitely think you know it's 0:20:37.640 --> 0:20:40.879 worth talking to a the only financial planner about because 0:20:41.400 --> 0:20:43.840 it's never just about your your four oh one K 0:20:44.040 --> 0:20:47.399 or in your case, you probably have an educator account 0:20:47.400 --> 0:20:50.120 which is like a four or three B but still similar, 0:20:50.520 --> 0:20:52.680 so you probably want to get more personalized advice than this. 0:20:52.880 --> 0:20:55.119 But just to break it down, you know, when you 0:20:55.240 --> 0:20:58.320 contribute to a traditional four one K or traditional IRA 0:20:58.600 --> 0:21:00.919 or sorry at four oh one K, you're putting dollars 0:21:00.960 --> 0:21:03.000 in pre tax, which means you put the money in 0:21:03.200 --> 0:21:04.840 and you don't get tax until you take it out 0:21:04.880 --> 0:21:06.879 when you're old and gray or hopefully not so old 0:21:06.960 --> 0:21:09.879 and gray in retirement. And the benefit there is that 0:21:09.920 --> 0:21:12.359 your money grows tax free. It's it's wonderful. It's an 0:21:12.400 --> 0:21:14.680 incentive to get people to put money away for retirement. 0:21:15.440 --> 0:21:18.560 The WROTH for one K is different in the sense 0:21:18.640 --> 0:21:23.960 that you pay taxes upfront, and typically what some financial 0:21:23.960 --> 0:21:26.560 advisors will say, is this is also a tax benefit. 0:21:27.040 --> 0:21:29.520 It's just a little bit more indirect because you're paying 0:21:29.560 --> 0:21:33.080 taxes now. Let's say you're earning a lower income today 0:21:33.160 --> 0:21:35.080 than you plan to be earning later when you get 0:21:35.119 --> 0:21:37.800 to retirement age. You could be saving money by paying 0:21:37.800 --> 0:21:41.400 your lower tax rate now than when you start withdrawing 0:21:41.440 --> 0:21:44.359 from your funds later. Another benefit that I think is 0:21:44.400 --> 0:21:47.280 overlooked what the ROTH is that you can actually withdraw 0:21:47.400 --> 0:21:50.840 your contributions so it's not actually as tied up as 0:21:50.880 --> 0:21:53.919 a traditional retirement account, where like if you take an 0:21:53.960 --> 0:21:57.680 early withdrawal and it's just to pay for something or 0:21:57.800 --> 0:22:01.240 to pay off some debt, it can be tax penalties 0:22:01.280 --> 0:22:03.440 that you have to pay and then income tax on 0:22:03.560 --> 0:22:06.080 top of that on what you withdraw with a ROTH. 0:22:06.200 --> 0:22:08.560 Like let's say you put in five thousand dollars over 0:22:08.600 --> 0:22:12.200 a couple of years you wanna, and you've gained you know, 0:22:12.720 --> 0:22:14.879 two thousand dollars on that five k, so you've got 0:22:15.000 --> 0:22:18.080 seven k in there right now. You could arguably go 0:22:18.160 --> 0:22:20.800 in there and withdraw some of that principal amount that 0:22:20.920 --> 0:22:24.320 five thousand that you put in and pocket that without 0:22:24.440 --> 0:22:29.000 the penalties of a traditional four oh one K. But 0:22:29.119 --> 0:22:32.600 now that we got all that like jargonique goodness, mum 0:22:33.600 --> 0:22:36.159 out of the way, burna talk to me about I mean, 0:22:36.200 --> 0:22:38.639 this is like a common This is like a common 0:22:39.000 --> 0:22:41.240 you know, one of the first adulting type decisions that 0:22:41.359 --> 0:22:43.720 happened when you get a new job. For me, I 0:22:43.920 --> 0:22:47.479 was so like ignorant about all this mess. I had 0:22:47.520 --> 0:22:49.440 a four to one K match at my first job. 0:22:49.560 --> 0:22:51.880 I was there for fifteen months, never opened, never put 0:22:51.920 --> 0:22:54.639 a dime in it, left all the money on the table. 0:22:55.520 --> 0:22:55.960 It'd be fair. 0:22:56.000 --> 0:22:58.320 I had no dimes to put in there. But what 0:22:58.520 --> 0:22:59.960 was what was it like for you when you start 0:23:00.200 --> 0:23:02.840 to you know, you went from freelancing to like, oh 0:23:03.400 --> 0:23:04.639 benefits like a four oh one K? 0:23:05.000 --> 0:23:06.720 What was that like for you? And how did you decide? 0:23:07.200 --> 0:23:10.040 Yes, actually trying to figure out what in the GD 0:23:10.200 --> 0:23:12.240 hell as a four oh one K was one of 0:23:12.280 --> 0:23:17.520 my first financial kind of Google entries. Ever, when I 0:23:17.640 --> 0:23:20.560 you know, like you said, we go through HR and orientation, 0:23:20.640 --> 0:23:22.920 they're like, here's your four oh one K. Before you 0:23:22.960 --> 0:23:24.639 could even ask like why is it even named a 0:23:24.680 --> 0:23:26.400 four oh one? And they're like, I'm onto the next 0:23:26.440 --> 0:23:28.320 and then they're like, we can't give you advice or 0:23:28.520 --> 0:23:30.400 HR or not a financial so you get very little 0:23:30.440 --> 0:23:33.400 answers in the first place. It was amazing to find 0:23:33.480 --> 0:23:38.159 out through Googles, not the HR representatives, which typically they 0:23:38.200 --> 0:23:39.800 should be more helpful about a lot of the times 0:23:39.840 --> 0:23:41.879 they are not. It was amazing to find out that 0:23:42.480 --> 0:23:44.840 for a lot of young people, especially in your very 0:23:45.000 --> 0:23:47.840 first jobs, your four oh one K is like the 0:23:47.920 --> 0:23:50.680 first time you're actually your money is getting invested, often 0:23:50.760 --> 0:23:54.119 invested for you, and you have no idea. Like it 0:23:54.240 --> 0:23:56.359 was many months into my job, like you said, Mandy, 0:23:56.720 --> 0:23:58.960 when I realized that money was being taken out for 0:23:59.040 --> 0:24:01.680 my four oh one K for my paychecks and things 0:24:01.720 --> 0:24:04.240 were happening to it. I guess I had like blacked 0:24:04.240 --> 0:24:08.399 out and signed papers when I enduring orientation, agreeing to something, 0:24:08.760 --> 0:24:11.119 and I didn't understand it until many months afterwards, and 0:24:11.200 --> 0:24:13.560 like couldn't actually change things. So it was amazing to 0:24:13.640 --> 0:24:16.440 find out that, first of all, money won money was 0:24:16.440 --> 0:24:19.399 already being taken out of my paycheck what without my 0:24:19.920 --> 0:24:22.920 maybe like kind of unconsensually, without my understanding of how 0:24:23.280 --> 0:24:26.160 it happened. Two, I learned about what you just said, 0:24:26.440 --> 0:24:29.399 four o one K matching. My company was a company 0:24:29.480 --> 0:24:31.399 that does that. They did four o one K matching, 0:24:31.440 --> 0:24:34.200 which meant when I put certain amount of money into 0:24:34.240 --> 0:24:36.440 my four oh one K, my company was like, cool, 0:24:36.640 --> 0:24:38.520 me too, Simon says, I'm going to do the same 0:24:38.600 --> 0:24:41.440 thing up to a certain degree. We love to say 0:24:41.440 --> 0:24:46.040 as financial you know, mouth holes, that's free money. That's 0:24:46.119 --> 0:24:48.600 money on the table, right, I give money, and you're 0:24:48.880 --> 0:24:51.240 I move, you move like Ludacris. I move the money 0:24:51.480 --> 0:24:53.359 and then the company says me too, unmoved the money. 0:24:53.680 --> 0:24:56.119 So that was amazing to find out. And then you 0:24:56.240 --> 0:24:58.920 get into the Okay, so what's the difference between four 0:24:58.920 --> 0:25:01.320 o one K and ira? You learn about all the 0:25:01.440 --> 0:25:03.800 things that man you just said about, like the tax differences. 0:25:04.320 --> 0:25:07.320 That's around when even if, like if you had held 0:25:07.440 --> 0:25:10.240 on to this point of like trying to learn, that's 0:25:10.320 --> 0:25:13.560 around when people's brains start to tune out and it 0:25:13.680 --> 0:25:17.080 starts to the butterfly out the window, gonna go get lunch. 0:25:17.600 --> 0:25:21.280 But they are really important differences when you're kind of 0:25:21.359 --> 0:25:23.040 looking at things. But I think the most important thing 0:25:23.200 --> 0:25:27.640 is whichever path you choose. Sit yourself or an HR 0:25:27.680 --> 0:25:31.040 representative or if financial advisor down until you and like 0:25:31.280 --> 0:25:34.360 ask all the questions until you fully understand the differences 0:25:34.440 --> 0:25:37.280 between the two. Don't go blindly into it like me 0:25:37.359 --> 0:25:39.200 and be like, it looks like the guy to my left, 0:25:39.760 --> 0:25:42.040 just check the box and and so it makes it 0:25:42.520 --> 0:25:44.879 that like I literally left money on the table for 0:25:44.960 --> 0:25:46.720 the first year, I left free money out of my 0:25:46.760 --> 0:25:49.720 own damn retirement account for the first year because I 0:25:49.880 --> 0:25:53.320 was just blindly following. There's so much pressure in the process. 0:25:54.040 --> 0:25:56.120 Don't be afraid to sit down and like, ask all 0:25:56.200 --> 0:25:59.400 the damn questions, google all every single phrase, every single 0:25:59.520 --> 0:26:02.439 thing that you can so that you understand both ways. 0:26:02.520 --> 0:26:06.160 And like Mandy was saying, it's not like there's a major, giant, 0:26:06.359 --> 0:26:09.400 like big mistake difference between the two. Honestly, I don't 0:26:09.400 --> 0:26:11.680 think there really is. It's especially when to say, first 0:26:11.680 --> 0:26:14.720 sort of investing foray, but understand the crap out of it. 0:26:14.800 --> 0:26:16.520 You really, you deserve to understand the crap out of 0:26:16.560 --> 0:26:20.399 everything happening to every dollar. And it's tiring. But until 0:26:20.640 --> 0:26:23.399 a retirement expert comes in and starts doing a dance 0:26:23.560 --> 0:26:26.879 at every like orientation, this is how we got to 0:26:26.960 --> 0:26:29.080 do it, it'll be me it. 0:26:29.560 --> 0:26:32.040 I mean, I think they pay big, big dollars for 0:26:32.119 --> 0:26:34.360 you to come tell their employees about their benefits, which 0:26:34.400 --> 0:26:36.280 is one of like the incentives to keep them there. 0:26:36.320 --> 0:26:37.360 I don't know why companies. 0:26:37.560 --> 0:26:40.119 I mean literally at previous job when one of the 0:26:40.160 --> 0:26:44.159 benefits was rsu's restricted stock units literally stock in the company, 0:26:44.760 --> 0:26:46.879 and I had a staff of young people who had 0:26:46.960 --> 0:26:49.159 never so much as heard of an RSU before, and 0:26:49.280 --> 0:26:51.919 I'd have to do their performance reviews and be like, oh, 0:26:52.000 --> 0:26:53.800 and you're going to get you know, five thousand dollars 0:26:53.880 --> 0:26:56.840 worth of RSUs and they would have these blank stares 0:26:56.880 --> 0:27:00.359 and finally I was like, do you know what this is? No, 0:27:01.160 --> 0:27:03.080 or they would say yeah, yeah, yeah, yeah, yeah, uh 0:27:03.200 --> 0:27:04.639 it's like the thing you know, and I'm like, no, 0:27:04.880 --> 0:27:06.639 here's what it is. And then their eyes would get why. 0:27:06.680 --> 0:27:09.840 They're like, whoa, this is great, this is great. But 0:27:10.040 --> 0:27:12.680 you don't know until you ask those questions. So and 0:27:12.760 --> 0:27:14.840 a lot of people aren't like me. They don't have time, 0:27:15.000 --> 0:27:17.800 you know, they don't take the time. So definitely ask. 0:27:18.040 --> 0:27:19.679 I was going to say, they're lucky to have an 0:27:19.720 --> 0:27:21.720 employer that's like, let me tell you exactly what it is. 0:27:21.760 --> 0:27:24.160 Because I remember learning about RSUs in my former job 0:27:24.200 --> 0:27:26.520 too and being like, this is a huge tech company 0:27:26.800 --> 0:27:28.840 with so many resources. I can't believe I have to 0:27:28.920 --> 0:27:31.560 google this shiz on my own to find out that 0:27:31.640 --> 0:27:34.600 I'm being given equity in the company. But the equity 0:27:34.640 --> 0:27:36.760 works like this, It's got all these rules. It's like, 0:27:37.320 --> 0:27:39.840 bless you and every other employer that actually looks out 0:27:39.880 --> 0:27:41.400 for the young people like that. That's beautiful. 0:27:41.560 --> 0:27:44.879 That's where you're saying, you know, how what is it? 0:27:45.000 --> 0:27:45.560 What is hella? 0:27:45.640 --> 0:27:48.960 The personal finance world's hella mal hellapale, Hella stale, health stale. 0:27:49.080 --> 0:27:52.040 Yes, that is true of businesses too. 0:27:52.119 --> 0:27:54.520 It's really the structure is built for I think people 0:27:54.560 --> 0:27:56.199 who don't need to have a sit down and talk 0:27:56.200 --> 0:27:59.000 about RSUs because their uncle or their father or their mother, 0:27:59.800 --> 0:28:02.400 you know, their mentor tells them those types of things. 0:28:02.440 --> 0:28:05.000 But a lot of folks, especially brown and black black 0:28:05.200 --> 0:28:07.600 people and women, you know, we don't go into the 0:28:07.760 --> 0:28:11.040 corporate world with those extra benefits and those you know, 0:28:11.200 --> 0:28:14.040 advisors and little evil parrots on our shoulders to tell 0:28:14.119 --> 0:28:15.880 us these types of things that we have to seek 0:28:15.920 --> 0:28:18.159 it out for ourselves, and companies need to do the 0:28:18.240 --> 0:28:20.119 extra work to do all that. But now I'm in 0:28:20.160 --> 0:28:22.880 my soapbox now about one of my favorite subjects, which 0:28:22.920 --> 0:28:25.120 is how businesses fail their employees. 0:28:26.240 --> 0:28:27.720 I love that subscribe. 0:28:28.320 --> 0:28:29.720 Yeah, but I do want to say thank you to 0:28:29.760 --> 0:28:32.240 this question and just to take it home. The only 0:28:32.320 --> 0:28:35.080 bad decision here is to not invest, to not save 0:28:35.160 --> 0:28:37.400 for retirement. That's the only bad decision you can make. 0:28:37.720 --> 0:28:40.440 And also, you know, to your point burnet about getting 0:28:40.480 --> 0:28:42.640 knowledge for me, the best thing I did at twenty 0:28:42.680 --> 0:28:45.080 four was just start saving before I even knew everything 0:28:45.120 --> 0:28:47.080 I thought I needed to know. I just did the 0:28:47.480 --> 0:28:51.640 easiest option, you know, check the box for automatic withdrawals 0:28:52.080 --> 0:28:54.400 into a target date fund. And then I was like, cool, 0:28:54.480 --> 0:28:56.280 you're cute. I'll come back to you when I'm ready 0:28:56.360 --> 0:28:58.520 to dive in more and do more things. And that 0:28:58.680 --> 0:29:00.800 was the smartest decision I ever made, putting me on 0:29:00.880 --> 0:29:04.120 my path to a tenfold increase in my net worth 0:29:04.160 --> 0:29:05.040 over the past. 0:29:05.080 --> 0:29:07.320 You know, decades, and I huge. 0:29:07.720 --> 0:29:09.560 Yeah, And I just don't want people to hold themselves 0:29:09.680 --> 0:29:12.360 back because they don't think that they know enough. There 0:29:12.400 --> 0:29:15.280 are some small steps you can take today that will 0:29:15.320 --> 0:29:17.320 put you on the right path and you'll, you know, 0:29:17.400 --> 0:29:20.560 you'll accrue that knowledge over time. Just don't wait until 0:29:20.600 --> 0:29:23.360 you're you know, you can recite, and don't wait until 0:29:23.360 --> 0:29:25.080 you have to stop googling the different terms. 0:29:25.440 --> 0:29:30.200 I still google sometimes me too, all the time. It's fine. 0:29:30.280 --> 0:29:33.480 I mean, we aren't like raised with these pockets of 0:29:33.520 --> 0:29:35.760 knowledge in our heads, and so we have to keep relearning. 0:29:35.840 --> 0:29:37.520 We have to keep shoving them intoor heads because it 0:29:37.520 --> 0:29:40.840 doesn't come naturally to so many of us. And I 0:29:41.160 --> 0:29:43.959 love to also tell young folks like you have something 0:29:44.200 --> 0:29:48.400 that every older Hella male paial Stale investor wishes they had, 0:29:48.720 --> 0:29:52.920 and that's time. It's time you have that freakin in 0:29:54.040 --> 0:29:56.200 bags all all around you. And that's the most important 0:29:56.240 --> 0:29:59.680 thing for retirement investing specifically. So just get or done, 0:30:00.160 --> 0:30:02.040 get her done in any which way, and confuse yourself 0:30:02.080 --> 0:30:04.440 with the terms once there's already money in the pot. 0:30:05.280 --> 0:30:08.280 I love that. Okay, for those of y'all who've been 0:30:08.320 --> 0:30:11.320 following Brown Ambition even from the beginning, but even if 0:30:11.360 --> 0:30:13.240 you tuned in last week for the first time, I 0:30:13.360 --> 0:30:16.480 guarantee you at some point we mentioned either Husban my 0:30:16.600 --> 0:30:21.480 husband Enrique or Superman Tiffany's husband Jarelle. Now, when we 0:30:21.560 --> 0:30:23.480 first started the show, neither one of us was actually 0:30:23.560 --> 0:30:27.720 married yet, and these guys have been through it all right. 0:30:27.840 --> 0:30:32.680 We love to talk about how Superman constantly opens the 0:30:32.760 --> 0:30:36.880 door when Tiffany's recording, or how my husband decided it 0:30:36.920 --> 0:30:39.640 would be really neat to spend one thousand dollars to 0:30:39.720 --> 0:30:41.360 get in line for a tesla when he and I 0:30:41.600 --> 0:30:44.120 just started dating and saving for our wedding. We give 0:30:44.160 --> 0:30:46.840 these guys a lot of grief. But during my conversation 0:30:46.920 --> 0:30:49.480 with Jamila Sufront from Journey to Launch, she and I 0:30:49.600 --> 0:30:52.280 had a really wonderful sort of reflection on the importance 0:30:52.360 --> 0:30:54.760 that the partner that you choose in life can have 0:30:54.960 --> 0:30:57.200 when it comes to your own wealth building and your 0:30:57.200 --> 0:30:59.680 own career journey. So I want to take a moment 0:30:59.760 --> 0:31:03.920 to replay this segment from my conversation with Jamila from 0:31:04.040 --> 0:31:04.840 Journey to Launch. 0:31:05.480 --> 0:31:09.200 This is so important because he was He looked at 0:31:09.240 --> 0:31:11.080 me like I was crazy, because he is a very 0:31:11.160 --> 0:31:14.720 simple man and he's very easy going. 0:31:14.840 --> 0:31:15.000 Right. 0:31:15.160 --> 0:31:18.720 So, and you know again, when I came to him 0:31:19.120 --> 0:31:21.000 a few years ago and I'm telling him about all 0:31:21.040 --> 0:31:23.800 these stories on podcasts I'm hearing people retiring and quitting 0:31:23.840 --> 0:31:26.480 their jobs, He's just like, really, because I don't what 0:31:26.600 --> 0:31:28.240 are we gonna do? Like, what are you talking about? 0:31:28.920 --> 0:31:32.080 And it really took some conversations to get him to 0:31:32.200 --> 0:31:33.520 kind of see. And one of the things I always 0:31:33.520 --> 0:31:36.680 say with couples is like, don't like I had to 0:31:36.760 --> 0:31:39.840 show him one the numbers, the numbers for him, even 0:31:39.880 --> 0:31:41.600 for me, like I had to believe the numbers, meaning 0:31:41.680 --> 0:31:45.160 I had to map out, really is this possible? Will 0:31:45.200 --> 0:31:47.320 I be able to one day quit my job early? 0:31:47.520 --> 0:31:49.520 How much money can we save and invest if we 0:31:49.600 --> 0:31:51.680 aggressively do this, if we cut back, if we become 0:31:51.760 --> 0:31:54.760 more optimized in our finances, how much money can we have? 0:31:54.920 --> 0:31:56.840 So I literally when I came home and told him 0:31:56.880 --> 0:31:58.360 the first time, he looked at me like, what are 0:31:58.400 --> 0:32:00.600 you talking about? And then over time what I did 0:32:00.720 --> 0:32:02.480 was I didn't push him to this is really important. 0:32:02.760 --> 0:32:05.000 Just because you come up with a realization or have 0:32:05.040 --> 0:32:07.080 an epiphany doesn't mean like your partner will they have 0:32:07.280 --> 0:32:09.960 they have They're on a whole another timeline. So I 0:32:10.320 --> 0:32:13.640 respected that, but also started to show him like the numbers, 0:32:13.720 --> 0:32:15.920 Like I created this spreadsheet and it showed like if 0:32:15.960 --> 0:32:18.560 we do this, like, first of all, step back from 0:32:18.560 --> 0:32:21.080 the spreadsheet, what does a life look like now that 0:32:21.160 --> 0:32:23.200 we enjoy and what does the life look like now 0:32:23.480 --> 0:32:26.080 in like twenty years, right when the kids are this age, 0:32:26.200 --> 0:32:27.920 and like they're at the house and we can travel, 0:32:28.480 --> 0:32:30.560 and how can we balance that now? So we started 0:32:30.600 --> 0:32:33.320 with the dream of our lives, what they are now 0:32:33.400 --> 0:32:35.560 and what we want them to be, and then we 0:32:35.720 --> 0:32:37.640 like did numbers around it, and I showed him, well, 0:32:37.680 --> 0:32:40.719 if we do this, make these changes in our finances, 0:32:41.200 --> 0:32:43.800 save and invest this much over time, we can have 0:32:44.120 --> 0:32:47.640 you know, over a million dollars in twenty years, and 0:32:47.920 --> 0:32:49.640 we can do all these things. And that started to 0:32:49.680 --> 0:32:51.600 get him excited because instead of me just saying it 0:32:51.760 --> 0:32:54.880 and talking, he saw the numbers. And then the other 0:32:54.960 --> 0:32:58.360 thing I really was important to say was yeah, I 0:32:58.520 --> 0:33:00.360 want to do this, so I quit my job. But also, 0:33:00.520 --> 0:33:03.600 like you know, I'm the mom. I'm I'm the one 0:33:03.840 --> 0:33:05.920 giving birth and having three kids. I also have the 0:33:05.960 --> 0:33:08.280 crazy commute. See my husband his job is maybe like 0:33:08.360 --> 0:33:10.920 ten minutes away from our house. So he also knew 0:33:11.080 --> 0:33:13.840 the pressure of just like my life, and he wanted 0:33:13.880 --> 0:33:16.360 me to be happy. And so I made sure that 0:33:16.520 --> 0:33:18.280 like own not only like we were going to pursue 0:33:18.320 --> 0:33:20.320 what I wanted, like in terms of a career or 0:33:20.480 --> 0:33:22.280 quitting my job, but what is it that you want? 0:33:22.480 --> 0:33:25.240 So I definitely we made sure that include his wants 0:33:25.280 --> 0:33:27.440 and hopes, like into what we were doing. You know, 0:33:27.560 --> 0:33:30.320 I don't really care about having a nice car. We 0:33:30.600 --> 0:33:32.440 used to have nice cars quote unquote back in the 0:33:32.520 --> 0:33:35.440 day before kids and getting a little bit more optimized 0:33:35.480 --> 0:33:37.280 with our finances. But I say, look, if I can, 0:33:37.600 --> 0:33:39.040 I want to buy you a car, you know, Like 0:33:39.320 --> 0:33:41.080 it was things like that that got him excited. So 0:33:41.200 --> 0:33:42.600 that way we both were. 0:33:43.440 --> 0:33:46.280 That was my way into baby. I said, save for 0:33:46.400 --> 0:33:49.840 a Tesla. Let's that's for a Tesla. Yeah, let's investing 0:33:49.880 --> 0:33:50.400 for a Tesla. 0:33:50.520 --> 0:33:52.200 It's so important because he is a little bit more 0:33:52.520 --> 0:33:54.960 like fancier I would say, than me right, like I'm 0:33:55.040 --> 0:33:57.680 good with kind of just like bare minimum, but sometimes fancy. 0:33:57.720 --> 0:33:59.440 He's like, if I could do it fancy all the time, 0:33:59.480 --> 0:34:03.040 I would, So talking about it in that term really 0:34:03.120 --> 0:34:05.640 helped to let him know that this is a team effort. 0:34:05.640 --> 0:34:08.000 It's not just about what Jamila wants. And also like, 0:34:08.040 --> 0:34:11.719 if I'm miserable because I'm working and driving all this time, 0:34:11.880 --> 0:34:14.960 like those whole families, is not going to be like happy, 0:34:15.120 --> 0:34:16.920 So let's work to a place that we can get to. 0:34:17.000 --> 0:34:19.160 And so he eventually got on board with that. But 0:34:19.239 --> 0:34:21.520 he's very easy going and laid back. Thank God for 0:34:21.640 --> 0:34:24.480 that in terms of he pretty much trust me. We 0:34:24.600 --> 0:34:26.800 have the open conversations about it, and even when it 0:34:26.840 --> 0:34:28.680 came to quitting my job, because that was huge, like 0:34:28.760 --> 0:34:31.760 my income was more than half of the family's combined income, 0:34:32.360 --> 0:34:33.960 and so like it would have almost been better if 0:34:34.000 --> 0:34:35.759 I was a teacher and then he had his career 0:34:35.840 --> 0:34:37.279 because then like you know, he can kind of stay 0:34:37.320 --> 0:34:39.640 on his trajectory. But for me to walk away, it 0:34:39.760 --> 0:34:41.799 was like a big step because what does that look 0:34:41.880 --> 0:34:43.560 like as a family. We have three kids, We have 0:34:43.640 --> 0:34:46.279 a mortgage, like, so we literally had to save up 0:34:46.400 --> 0:34:49.920 enough money to cover our expenses while journey to launch 0:34:50.040 --> 0:34:52.000 like started to you know, become more stable, and that 0:34:52.239 --> 0:34:54.840 was scary, but we did it together. We had the 0:34:54.880 --> 0:34:58.640 conversations and it's it's working out so far. 0:34:58.840 --> 0:35:03.759 So that's no, that's wonderful. I also have always been 0:35:04.719 --> 0:35:07.120 it's so funny how the you know, in no shade 0:35:07.120 --> 0:35:09.439 to your husband. I always talk to my husband. I'm like, dude, 0:35:09.480 --> 0:35:11.680 you work for the government and you have the boogiest 0:35:11.719 --> 0:35:13.719 taste of like where do you come off with this? 0:35:14.040 --> 0:35:17.000 Like what he's like, I must he has like this 0:35:17.200 --> 0:35:20.239 very specific t shirt brand. He gets custom shirts. I'm like, 0:35:20.520 --> 0:35:22.400 I'm the one shopping in the clearance track at H 0:35:22.440 --> 0:35:22.680 and M. 0:35:22.800 --> 0:35:25.520 But the same as you. I I we I was. 0:35:25.800 --> 0:35:28.000 I was earning probably like two three x what he 0:35:28.600 --> 0:35:30.759 was earning at the at my peak earning career in 0:35:31.320 --> 0:35:34.200 you know, corporate America, so to speak. But that's so 0:35:34.480 --> 0:35:37.719 that's so funny, And it's also you know, shouts out 0:35:37.800 --> 0:35:40.520 to shout out to partners. You know, I don't put 0:35:40.560 --> 0:35:43.520 genders on and put partners who are willing to maybe 0:35:43.640 --> 0:35:45.239 maybe they have their doubts, but they just you know, 0:35:45.360 --> 0:35:48.560 have those in the shower alone. They they support and 0:35:48.680 --> 0:35:51.640 they you know, have faith in their partners to to 0:35:51.719 --> 0:35:53.640 really bet on themselves and to take their career to 0:35:54.280 --> 0:35:57.440 a different place. That's really wonderful that he's been supportive 0:35:57.520 --> 0:36:00.719 to you, and I I appreciate you talking about the 0:36:00.760 --> 0:36:04.800 whole the values you know, and how you as a partner. 0:36:05.080 --> 0:36:07.920 I've struggled with this too, probably a little bit more 0:36:07.960 --> 0:36:09.600 than it sounds like you did. But I was like, 0:36:10.000 --> 0:36:13.120 it was very hard for me to start to share 0:36:13.400 --> 0:36:18.239 in the values based investing, Like so for example, you know, 0:36:18.480 --> 0:36:22.319 I had no problem spending money on values or experiences 0:36:22.400 --> 0:36:25.160 that I particularly wanted to have. But when it came 0:36:25.239 --> 0:36:27.360 to a you know, if it was a car or 0:36:28.120 --> 0:36:30.719 you know, uh, I don't know, concert or something that 0:36:30.840 --> 0:36:33.680 you know, Enrique really wanted it was, it was like, hmmm, 0:36:33.800 --> 0:36:36.640 it's not really worth it. And I had to had 0:36:36.680 --> 0:36:39.400 to learn to share in that I was. That was 0:36:39.480 --> 0:36:41.759 probably my one of the more difficult challenges for me 0:36:41.920 --> 0:36:45.400 financially and like mentally as a spouse was bringing them 0:36:45.440 --> 0:36:48.160 in and being open to you know, they're what they 0:36:48.320 --> 0:36:51.120 value and not not discounting it and making that a 0:36:51.200 --> 0:36:52.799 part of the overall plan. 0:36:53.120 --> 0:36:55.320 Yeah, I mean, you know, it's important, just like and 0:36:55.480 --> 0:36:58.080 for me, I think as growing up without really you know, 0:36:58.120 --> 0:37:00.719 I didn't have a father in my life or had 0:37:00.719 --> 0:37:02.839 father figures, I didn't really have a close relationship with them, 0:37:02.880 --> 0:37:05.280 and so I was like for me, the value based 0:37:05.320 --> 0:37:07.840 things like the simple even though I say he's fancy, 0:37:08.160 --> 0:37:10.880 like the other things that he's about, which is like family, 0:37:11.120 --> 0:37:13.920 and he's very grounded and supportive. Like it's like one 0:37:13.920 --> 0:37:15.840 of the first signs like I saw in him, like 0:37:15.880 --> 0:37:19.000 when we first started dating years ago, that I said, like, 0:37:19.120 --> 0:37:20.840 out of all the things I want in someone, it 0:37:20.840 --> 0:37:22.960 would be the opposite of what I knew my. 0:37:23.040 --> 0:37:25.680 Dad to be, and so I think, whatever that is. 0:37:25.719 --> 0:37:27.040 I know some people meet people like that and they 0:37:27.080 --> 0:37:29.040 do not they don't turn out to be this way eventually. 0:37:29.160 --> 0:37:31.160 But he that's what he is and who he is. 0:37:31.480 --> 0:37:33.279 And so even as an entrepreneur and now, like I know, 0:37:33.880 --> 0:37:36.920 like having three kids, like he's an equal partner in 0:37:37.040 --> 0:37:39.640 the house and in parenting. I still feel like I 0:37:40.000 --> 0:37:41.480 do a little bit more, but I feel like he 0:37:41.680 --> 0:37:44.759 is as much equal as outside of my controlling self 0:37:44.880 --> 0:37:47.040 he can be in terms of how I like things done. 0:37:47.320 --> 0:37:49.120 And it's been when people say how do you do this? 0:37:49.320 --> 0:37:51.400 Like how did you manage all that stuff when you 0:37:51.480 --> 0:37:53.680 were working and commuting and the kids, and how do 0:37:53.719 --> 0:37:55.799 you even do it now as like a business owner 0:37:55.920 --> 0:37:58.839 with the kids, It's like, well, because I leave, he's 0:37:58.880 --> 0:38:01.080 an equal partner in this, and that has a lot 0:38:01.120 --> 0:38:03.480 to do with I think how it allows me to 0:38:03.560 --> 0:38:06.160 make money and be happy, and how our household lives 0:38:06.200 --> 0:38:08.240 and how we choose to spend money. So I'm proud 0:38:08.320 --> 0:38:10.239 of the fact that I chose I chose him as 0:38:10.280 --> 0:38:10.720 my husband. 0:38:11.880 --> 0:38:14.360 Isn't Jamila the best and shout out to her husband 0:38:14.360 --> 0:38:50.320 Woodie as well. To close out this walk down memory Lane, 0:38:50.400 --> 0:38:53.600 I chose a very special part of the conversation that 0:38:53.680 --> 0:38:57.840 I have with Janice Torres Rodriguez from the Jokio Dinero podcast. 0:38:58.200 --> 0:38:59.680 Janie is a bad ass. 0:39:00.480 --> 0:39:01.000 First of all. 0:39:01.080 --> 0:39:04.040 I love the way that she talks about how she 0:39:04.160 --> 0:39:07.400 built her confidence in a very male dominated world in 0:39:07.480 --> 0:39:11.120 her fields of engineering, and how she flipped all the 0:39:11.160 --> 0:39:15.200 stereotypes on their head, becoming very used to being one 0:39:15.360 --> 0:39:18.279 of the only, if not the only, female in a room. 0:39:18.719 --> 0:39:21.160 And she even talks about how she actually got used 0:39:21.200 --> 0:39:23.120 to being man's plained to the point where it became 0:39:23.160 --> 0:39:26.000 an asset to her that she could actually stomach it. 0:39:26.560 --> 0:39:29.960 So let's round out our walk down memory lane with 0:39:30.120 --> 0:39:32.440 a look back at my conversation with Janie. 0:39:33.440 --> 0:39:36.520 Yeah, so, as an engineer and a Latina like, I 0:39:37.120 --> 0:39:40.960 think that the career experience has definitely served me well 0:39:41.040 --> 0:39:43.399 in the sense that, like, I'm so used to being 0:39:43.520 --> 0:39:46.880 mansplained that now when it happens in like the personal 0:39:46.960 --> 0:39:50.000 finance sphere, which yes it absolutely does, Yeah, it kind 0:39:50.040 --> 0:39:52.400 of doesn't bother me. I'm just like, man, it's like, what, 0:39:53.200 --> 0:39:56.759 like we are the same, So I'm not even here 0:39:56.920 --> 0:39:59.680 to like I don't need your explanations, sir, thank you. 0:40:00.280 --> 0:40:03.800 And because that came so much from like my corporate experience. 0:40:03.880 --> 0:40:06.239 I was usually the youngest woman in the room. I 0:40:06.440 --> 0:40:09.080 was usually the only woman of color, and there was 0:40:09.160 --> 0:40:11.280 a lot of like that, just you know that girl, 0:40:11.480 --> 0:40:14.000 that girl gets like the project that nobody else wants 0:40:14.040 --> 0:40:16.520 to work on and just gets talked down to, gets 0:40:16.560 --> 0:40:19.160 told that I'm aggressive when you know the men are 0:40:19.239 --> 0:40:22.080 quote unquote being assertive blah blah blah. So I think 0:40:22.560 --> 0:40:24.759 from that perspective, like, I'm grateful for the fact that 0:40:24.840 --> 0:40:26.759 it gave me a thick skin, because right, I don't 0:40:26.760 --> 0:40:28.360 take any shit from anybody at this point, and I 0:40:28.440 --> 0:40:30.160 think my career has a lot to do with that. 0:40:31.080 --> 0:40:32.759 But I think I. 0:40:32.920 --> 0:40:37.000 Followed my father's footsteps when it comes to an engineering background, 0:40:37.000 --> 0:40:39.480 because he is an engineer as well. He works on 0:40:39.800 --> 0:40:45.320 like automating production lines for manufacturing companies, and so I always, 0:40:45.480 --> 0:40:48.840 like was surrounded by technology and curiosity in science, like 0:40:49.200 --> 0:40:51.759 that was always the vibe that was in my house. 0:40:51.800 --> 0:40:54.359 I was always wanting to find out what my dad 0:40:54.480 --> 0:40:56.520 was working on. So I think, you know, I saw 0:40:56.640 --> 0:40:59.600 him being financially successful, and I wanted to mimic that. 0:41:00.480 --> 0:41:02.840 But then I also realized, like, after a while, I 0:41:03.040 --> 0:41:05.480 just don't care about this. This is not what lights 0:41:05.520 --> 0:41:08.000 me up. Yes, I was making great money, like I 0:41:08.120 --> 0:41:10.640 was twenty five years old, making like seventy five thousand dollars. 0:41:11.160 --> 0:41:14.360 I started making six figures before I turned thirty. And 0:41:15.200 --> 0:41:19.359 you know, the monetary aspect of it is what kept 0:41:19.480 --> 0:41:22.000 me in the field for so long, because I had 0:41:22.040 --> 0:41:23.960 all these thoughts about like, well, what the hell else 0:41:23.960 --> 0:41:25.319 am I going to do? It's actually gonna be able 0:41:25.360 --> 0:41:28.000 to pay me this type of money. But at some 0:41:28.120 --> 0:41:31.960 point I just realized, like, I can't go through life 0:41:32.560 --> 0:41:37.000 just living with the excitement of a paycheck because it's 0:41:37.200 --> 0:41:40.160 not it's not worth it to me. I can't wake 0:41:40.239 --> 0:41:43.160 up every day with anxiety about going to work and 0:41:43.320 --> 0:41:46.279 doing something that literally just like drains me and I 0:41:46.320 --> 0:41:46.880 don't care. 0:41:46.760 --> 0:41:50.640 About I'm setting with that for a moment because I 0:41:50.719 --> 0:41:53.880 want people. You don't You guys don't have to do it. 0:41:54.400 --> 0:41:58.520 There's another way. There's another way. You mentioned therapy earlier. 0:41:58.920 --> 0:42:02.040 Now I talk to my husband about therapy because I've 0:42:02.040 --> 0:42:04.080 been in therapy ever since I got pregnant a couple 0:42:04.160 --> 0:42:06.799 of years ago. I just knew it's well, first of all, 0:42:06.840 --> 0:42:08.480 I know, it's really hard to find a therapist that 0:42:08.560 --> 0:42:10.400 you jive with. And I was, I was looking for 0:42:10.520 --> 0:42:13.200 therapists before you know, better help and talk space and 0:42:13.239 --> 0:42:16.360 all these new apps and stuff. But I whenever I 0:42:16.480 --> 0:42:18.680 kind of bring it up, I can feel the air 0:42:18.800 --> 0:42:21.479 in the room changed around. My husband and his family 0:42:21.520 --> 0:42:25.360 their Dominican American and you know, first generation in this country, 0:42:25.840 --> 0:42:28.480 and there's just there's a bit of a stigma about it. 0:42:28.520 --> 0:42:31.200 It's very much like not from him, but like from 0:42:31.280 --> 0:42:33.680 some of his extended family. You know, why won't you 0:42:33.760 --> 0:42:35.480 just talk to God about that? And by the way, 0:42:36.200 --> 0:42:40.240 I come from a very uh southern Black family in Atlanta, 0:42:40.280 --> 0:42:41.440 and it's the same damn thing. 0:42:41.560 --> 0:42:43.759 It's like, oh no, we talked to Jesus when we 0:42:43.840 --> 0:42:44.560 have problems. 0:42:44.719 --> 0:42:45.279 We know what. 0:42:46.000 --> 0:42:47.520 So what was that like for you? 0:42:47.719 --> 0:42:50.320 Was it easy for you to turn to therapy in 0:42:50.440 --> 0:42:52.640 your journey or did you have did you have any 0:42:52.719 --> 0:42:54.640 like internalized stigmas against it as well? 0:42:55.239 --> 0:42:58.480 I definitely had internalized stigmas. My husband went to therapy 0:42:58.600 --> 0:43:02.040 before I did, and so I actually followed his example 0:43:02.160 --> 0:43:05.719 because mental health was something that was very common in 0:43:06.000 --> 0:43:08.840 his family, like to talk about and I was the 0:43:08.920 --> 0:43:11.880 complete opposite. So he actually gave me like the courage 0:43:11.920 --> 0:43:14.879 to even pursue this. And you know, at some point 0:43:14.920 --> 0:43:16.960 I wanted to talk about it to my family too, 0:43:17.080 --> 0:43:19.239 And when I first told them, of course, they're just like, girl, like, 0:43:19.320 --> 0:43:20.800 what do you have to complain about? Like, you have 0:43:20.880 --> 0:43:23.640 a perfect life, get over it. Your anxiety is made up, 0:43:23.640 --> 0:43:25.880 blah blah blah. But at some point, you know, you 0:43:26.080 --> 0:43:29.200 kind of have to just brush that stuff aside and realize, like, 0:43:29.560 --> 0:43:32.000 your feelings are your feelings. You don't need somebody else 0:43:32.040 --> 0:43:35.000 to validate them, and if you need help, like, that's 0:43:35.280 --> 0:43:39.920 what it's there for. So whoever approves or doesn't, they 0:43:40.000 --> 0:43:41.600 got to get over that shit because it has nothing 0:43:41.600 --> 0:43:41.960 to do with you. 0:43:43.000 --> 0:43:44.120 I love that your husband. 0:43:44.480 --> 0:43:47.719 I've never heard an anecdote from someone saying my my 0:43:47.840 --> 0:43:51.080 male partner, my husband encouraged me to get into therapy. 0:43:51.160 --> 0:43:53.160 I want to hear more stories like that. I think 0:43:53.239 --> 0:43:56.960 that's amazing. Yeah, okay, well we don't have that much time, 0:43:57.040 --> 0:43:59.520 but I want to. So we haven't even gotten to YO. 0:44:00.600 --> 0:44:04.239 But before her, you've lived like twelve lives in the 0:44:04.280 --> 0:44:07.200 past decade. It feels like, but you you didn't start 0:44:07.200 --> 0:44:09.760 with jokto di Nato while you were working. You've launched 0:44:09.840 --> 0:44:13.200 your food blog, right, Delish Delights, which is to this 0:44:13.400 --> 0:44:16.120 day one of your ten income sources, which we're gonna 0:44:16.160 --> 0:44:19.920 talk to Genie about how she has ten streams of income, 0:44:20.000 --> 0:44:22.520 which is like major goals, But talk to me about 0:44:22.600 --> 0:44:25.720 Delish Delights how it is making money for you today. 0:44:25.920 --> 0:44:29.000 And then when did you pivot from food blogging to 0:44:29.760 --> 0:44:31.480 money blogging and money advice? 0:44:32.160 --> 0:44:34.840 Yeah, so the food blog is definitely like a creative 0:44:34.880 --> 0:44:37.520 outlet that I started because of this frustration that I 0:44:37.560 --> 0:44:40.640 had around my career. I had a typical quarter life 0:44:40.680 --> 0:44:42.279 crisis where I'm like I wake up, like I'm like 0:44:42.320 --> 0:44:43.400 twenty seven years old. 0:44:43.760 --> 0:44:44.879 What the hell is my life? 0:44:45.040 --> 0:44:47.640 Like why is this the thing that we all have 0:44:47.719 --> 0:44:48.840 to do? Like why do we just have to go 0:44:48.880 --> 0:44:50.839 to work every day and work till we're sixty five 0:44:50.920 --> 0:44:53.480 and then like go and enjoy life. So I was 0:44:53.560 --> 0:44:56.120 convinced that like maybe I should just quit my job 0:44:56.320 --> 0:44:58.480 and go to culinary school and I'm going to be like, 0:44:59.000 --> 0:45:03.640 you know, Gordon Rams or something. But then I realized, okay, wait, 0:45:03.760 --> 0:45:05.840 so I'm gonna take like a massive pay cup because 0:45:05.920 --> 0:45:08.360 we all know the restaurant industry doesn't pay. I'm going 0:45:08.440 --> 0:45:10.480 to get into more student loans debt when I'm still 0:45:10.520 --> 0:45:14.440 paying off like my master's degree. Hold on, maybe this 0:45:14.640 --> 0:45:17.440 is not the route to go. So then I discovered 0:45:17.480 --> 0:45:21.480 the world of online blogging. So I started finding websites 0:45:21.560 --> 0:45:24.880 like skinny Taste dot com and The Pioneer Woman, and 0:45:25.080 --> 0:45:29.320 I realized, oh, this love of cooking that I have 0:45:29.560 --> 0:45:32.000 can actually be something that I can do from home 0:45:32.560 --> 0:45:35.960 and I can create like this website, and maybe I 0:45:36.040 --> 0:45:39.560 can actually monetize this, and so I dove in like 0:45:39.760 --> 0:45:43.640 head first. I created my blog. I started sharing recipes. 0:45:43.680 --> 0:45:44.080 Every day. 0:45:44.120 --> 0:45:45.960 I was like, you know, my husband would come home, 0:45:46.000 --> 0:45:47.680 I'd be like on top of the kitchen table, like 0:45:47.800 --> 0:45:52.279 taking pictures every dish in the you know, kitchen sink, 0:45:52.320 --> 0:45:55.799 all the pots would be used. And then I got 0:45:55.880 --> 0:45:58.040 laid off like six months after I started the blog 0:45:58.120 --> 0:46:00.840 and have this free time to myself to really just 0:46:00.920 --> 0:46:03.320 pretend like what would it be like if I was 0:46:03.400 --> 0:46:06.520 a self employed person making a living off of a 0:46:06.600 --> 0:46:09.440 food blog. So I took the opportunity to take some 0:46:09.640 --> 0:46:12.680 courses in food blogging, which was just becoming like a 0:46:12.800 --> 0:46:15.160 thing that people were actually teaching you how to do 0:46:15.400 --> 0:46:17.720 that you could actually make money on. And I started 0:46:17.760 --> 0:46:21.840 implementing what I was learning into my journey as a blogger. 0:46:22.440 --> 0:46:25.719 And so here we are, like eight years later. I 0:46:25.800 --> 0:46:29.320 started monetizing the blog maybe two years after I started it, 0:46:29.440 --> 0:46:32.960 because those two years were basically a huge learning curve 0:46:33.000 --> 0:46:35.240 where I was starting to understand, like how you actually 0:46:35.280 --> 0:46:38.799 monetize a brand that you create online. And eight years later, 0:46:39.120 --> 0:46:42.200 the blog is earning anywhere from ten to fifteen thousand 0:46:42.239 --> 0:46:47.360 dollars a month in passive income from ads, from traffic 0:46:47.520 --> 0:46:49.680 that is coming to my website. I reach about four 0:46:49.760 --> 0:46:53.439 million visitors a year now with my website. Thank y'all 0:46:53.520 --> 0:46:57.040 so much for rocking with me this past month during 0:46:57.080 --> 0:47:00.560 our summer co host series. I missed TIF She will 0:47:00.600 --> 0:47:03.839 be back next week, so check out our episode coming 0:47:03.920 --> 0:47:06.440 up next week on July. Let me look at my calendar, 0:47:06.480 --> 0:47:11.319 because y'all know, mom brain is a real affliction. July fourteenth, 0:47:11.440 --> 0:47:14.759 we are back with a fresh episode with Tiffany. She 0:47:14.880 --> 0:47:16.399 is going to be back in the co host chair. 0:47:16.480 --> 0:47:17.239 I cannot wait. 0:47:17.360 --> 0:47:20.160 But again, thank you so much to our listeners for 0:47:20.320 --> 0:47:23.160 rocking with me this past month and to our co host, 0:47:23.280 --> 0:47:27.440 Chris Berna, Janie Jamila. Thank y'all so so much from 0:47:27.480 --> 0:47:30.080 the bottom of my heart for joining me and opening 0:47:30.160 --> 0:47:31.560 up about your financial journeys. 0:47:31.600 --> 0:47:32.120 They have been. 0:47:32.080 --> 0:47:37.040 Inspiring, hilarious, thought provoking. I can't wait. Can't wait for 0:47:37.120 --> 0:47:39.120 you guys to catch up and listen to all of them. 0:47:39.600 --> 0:47:43.160 Check out our podcast wherever you get them Apple podcasts, 0:47:43.320 --> 0:47:46.919 Google podcast, Amazon podcasts, oh Lord, Stitcher, tune in, wherever 0:47:46.960 --> 0:47:49.279 you want to get them. Check out these episodes, and 0:47:49.360 --> 0:47:51.480 don't forget to hit us up on Instagram. Let us 0:47:51.560 --> 0:47:54.160 know what you liked about an episode. Send us your questions, 0:47:54.520 --> 0:47:56.680 y'all know we love to answer them. 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