Speaker 1: Heyba fam, we are five years into making this podcast
Speaker 1: that we love so much called Brown Ambition, and we
Speaker 1: could not do it without you. We've gone from me
Speaker 1: and Tiffany sneaking around my old office building trying to
Speaker 1: find places to record, and thanks to you, guys, we
Speaker 1: now have one hundred thousand downloads per month for this
Speaker 1: little show called Brown Ambition. We would love to ask
Speaker 1: y'all for a small favor as fans of the show. Tiffany,
Speaker 1: what are we looking for?
Speaker 2: Here's what we'd love from you, guys. We already have
Speaker 2: over a thousand reviews and a five star rating on iTunes,
Speaker 2: but you know it's better than one thousand reviews two
Speaker 2: thousand reviews. If you get head on over to iTunes,
Speaker 2: go to our Brown Ambition page, scroll on down to
Speaker 2: the bottom, subscribe and leave us a five star rating
Speaker 2: and review. So subscribe, rate review Not too much to ask,
Speaker 2: right easyps. We love you guys, and thank you so
Speaker 2: much for making Brown Ambition what it is. The last
Speaker 2: five years have been amazing and it's all things to you. Hey, hey, hey,
Speaker 2: we're back. We're black, We're bred abishan shout out to
Speaker 2: Mandy's Mama. I saw the video sent me.
Speaker 1: I love it. Listen, you can't be calling me. I'm
Speaker 1: like that she doesn't know that. I listen. I think
Speaker 1: it's like a criminal offense to take a video screen
Speaker 1: recording of your Marco polos and send them to people,
Speaker 1: but I sometimes I do it.
Speaker 2: I'm like, what's a Marco Polo?
Speaker 1: Oh? Marco Polo is the uh uh? It is the
Speaker 1: best and worst app in my life right now. So
Speaker 1: Marco Polo for people who like Snapchat but it's too complicated,
Speaker 1: but they want to communicate with their relatives and family
Speaker 1: and friends in a really easy way. And also, you
Speaker 1: hate FaceTime because you're kind of trapped on the phone
Speaker 1: with someone for a while. Marco Polo as you can
Speaker 1: just send people video messes back and forth, kind of
Speaker 1: like Marco, and then you're on the other side of
Speaker 1: the pool and you yelled.
Speaker 2: Polo Polo. Yeah, Okay. I love it and.
Speaker 1: It's really fun and I recommend it for anyone who's
Speaker 1: Because my sister's in Saint where is she Wisconsin? My
Speaker 1: mom is in Saint Louis, Missouri. I'm obviously in New
Speaker 1: York and it's been really difficult not being especially the
Speaker 1: first year of you know, Rio's life, not having his
Speaker 1: auntie or his grandma around that that much. So Marco
Speaker 1: Polo was what kind of helps them feel? Like, like, literally,
Speaker 1: if I don't send them a message every hour of
Speaker 1: the day, at least a little snapshot, then I have
Speaker 1: phone calls like are you okay? What's going on? Are
Speaker 1: you having a bad day? Oh? But uh it's I
Speaker 1: hope I'm not. Anyway, it's a it's a it's a
Speaker 1: good app ultimately. But yeah, so anyway, my mom had
Speaker 1: sent me she does listen to the show, and now
Speaker 1: she's proving it because this is why I can't talk
Speaker 1: smack about her anymore. On the show, she was like
Speaker 1: she started one of her messages with hey, hey, hey,
Speaker 1: oh no, that's a differy things like yeah, mom, I
Speaker 1: love it.
Speaker 2: That's who she could use it on me. I got
Speaker 2: so it technically doesn't belong to.
Speaker 1: Me, right, I mean, but he's not a real person.
Speaker 1: So is that a character or whatever? I know?
Speaker 2: Or like D from What's Happening? I'm aging myself. There
Speaker 2: used to be this show, No, no, there was. It's
Speaker 2: not D. It was the guy it was. There's a
Speaker 2: show called What's happening, and there was a guy I
Speaker 2: forget his name, but he used to say I think
Speaker 2: his name was Dwayne, Hey, hey, and so like when
Speaker 2: I was really little, I remember it coming on.
Speaker 1: So that's where I got it from. Well, now see,
Speaker 1: now you've just ruined that. Everyone thought that Tiffany, Wow,
Speaker 1: she is clever. She came up with this whole catchphrase.
Speaker 1: Oh well now we know five years.
Speaker 2: And oh so this is not so good news. But
Speaker 2: I was just asking you earlier, had you heard about
Speaker 2: CC the sixth figure chick.
Speaker 1: I had not heard of her until this week.
Speaker 2: Actually, yeah, so she is one of the when she
Speaker 2: was because she passed away on August fourteenth, twenty twenty,
Speaker 2: not just a few days ago. She one of the
Speaker 2: ogs in the digital marketing digital sales game as a
Speaker 2: black woman.
Speaker 1: CC.
Speaker 2: Almost any black woman who was selling anything online will
Speaker 2: tell you that, you know, they have gotten a director
Speaker 2: in direct help from CC. She you know, was just
Speaker 2: nothing short of amazing. She used to do this thing
Speaker 2: where she would show her gross sales every every week
Speaker 2: or month. She would show you how much she was making.
Speaker 2: How she really broke down, how do you sell a
Speaker 2: good product or really hurts your services, but with integrity.
Speaker 2: She was just she just I mean, there's so many
Speaker 2: I used to just go to her page and just
Speaker 2: soak up and be like I never thought about it
Speaker 2: that way. She literally had like she would post things
Speaker 2: like how to make money selling classes online, and if
Speaker 2: you want to make this amount of money, here's how
Speaker 2: you'd break that down. She was so transparent and open
Speaker 2: and just gave so much value you really, I have
Speaker 2: never seen someone give that much value in that space before.
Speaker 2: And she was specifically for black and brown women, and
Speaker 2: so she just will be sorely missed. But you know,
Speaker 2: seeing so CC had cancer, I think she was in remission,
Speaker 2: but she had been to cancer and be there I
Speaker 2: think three times over the last like ten years, you know,
Speaker 2: or the last five years, I think. But what she
Speaker 2: passed away from was pneumonia. I'm not sure like where
Speaker 2: it stemmed from. I don't believe it's stemmed from COVID
Speaker 2: or anything like that. But but what was so telling
Speaker 2: about her, the type of person that she was, is
Speaker 2: that literally the day before CEC had posted like a
Speaker 2: resource and this is a woman who was at the
Speaker 2: time in the hospital. And it just goes to show
Speaker 2: you that her real passion and true passion was being
Speaker 2: of service to women like her who wanted to seek
Speaker 2: ways to make money with integrity and helping other women.
Speaker 2: And so I just wanted to just like send Ceci
Speaker 2: a faraway hug and thank you for all that you've
Speaker 2: done for us in this space. But also too, it
Speaker 2: was a wake up call. Honestly, all the black and
Speaker 2: brown women that I know that are like you know,
Speaker 2: that started their own business and who sell things online
Speaker 2: and things, we're all just kind of like it just
Speaker 2: kind of a wake up call to like, are you
Speaker 2: doing what you want to do how you want to
Speaker 2: do it? Because clearly CC was, and it just was
Speaker 2: a reminder like to realign like our rich journey, I
Speaker 2: don't know, I remember, I know like it shook me
Speaker 2: to the core. I've been watching them. I saw they
Speaker 2: just bought a house in Portugal. Shout out to your
Speaker 2: mom and Christina, and so that was another episode or
Speaker 2: people who just had me look at my life and
Speaker 2: say I want to realign. And CC was one of
Speaker 2: those people too. But yeah, I've just been thinking a
Speaker 2: lot about realignment, realignment, realignment, and so that definitely shook
Speaker 2: me to the core. So yeah, I just want to
Speaker 2: shock her out.
Speaker 1: Well thank you and sending lots of love to her family.
Speaker 1: And I think if you see any black or brown
Speaker 1: woman in a position where they are successful today, I
Speaker 1: mean you have to. We can't get here without thinking
Speaker 1: about the trailblazers before us, and there are you know,
Speaker 1: this is a space personal finance space and advice. I
Speaker 1: don't know when CEC got into the space, but it is.
Speaker 1: It's an old enough space now. I think the online
Speaker 1: revolution and like the creation of personal financial help and
Speaker 1: education and services online really boomed after the you know,
Speaker 1: Great Recession, and you know it's been over ten years now,
Speaker 1: and there's people who have been rocking with it since
Speaker 1: the beginning and really paving the way. And it feels
Speaker 1: like CEC was one of those pioneers.
Speaker 2: Absolutely, and you can still follow her because her stuff
Speaker 2: is just still you know. I just feel like even
Speaker 2: her legacy is the surface she left behind for us.
Speaker 2: So it's like Instagram, right, it's underscore, the six figure
Speaker 2: chick underscore. So I would certainly go in because, like
Speaker 2: I said, she was posting from her hospital bed resources
Speaker 2: like you can do it. Here's how you can. I mean,
Speaker 2: so to me. It just speaks volumes about what she
Speaker 2: wanted to leave behind for us, and she really did.
Speaker 2: Like I said, she was the mostansparent businesswoman I've ever seen.
Speaker 2: I mean, you knew exactly how much she made, how
Speaker 2: she made it in which way. Yeah, CC was amazing.
Speaker 1: I love it all right. Underscore six figure Chick on
Speaker 1: Instagram The six figure Chick Underscore the six figure Chick
Speaker 1: Underscore Magically. I am sure a link will appear in
Speaker 1: our show notes because we have mentioned it here. Kelly, Hello, Kelly,
Speaker 1: Yay oh man, Well, Ken, I mean that was I'm
Speaker 1: really glad we took some time to pay tribute to CC.
Speaker 1: Can we talk a little bit about what's happening in
Speaker 1: these streets to these postal boxes right now? Oh my gosh,
Speaker 1: I mean the post office, Like I'm trying to catch up,
Speaker 1: but it seems so there's a lot happening. Obviously, he
Speaker 1: who must not be named our commander in whatever whining
Speaker 1: apparently so he, I think, And this is just me,
Speaker 1: like Mandy, like, just what kind of what I've been
Speaker 1: reading through the lines as I've been trying to read
Speaker 1: and not read and watch and not watch the news
Speaker 1: for my own mental health. But it seems like he's scurred. Y'all,
Speaker 1: the polls are not looking hot. He has really effed
Speaker 1: up the whole response to this pandemic right now, and
Speaker 1: the election is what eighty days away, maybe like a
Speaker 1: little bit less than eighty days away. Kamala being named
Speaker 1: to the as a nominee as the why can't I
Speaker 1: find words? As a vice presidential nominee alongside Biden on
Speaker 1: the ticket for twenty twenty. I think that has Republicans
Speaker 1: shook us because it's become very apparent that they don't
Speaker 1: exactly know how to attack her because there's a lot
Speaker 1: of things. There's just not very much there. There's not
Speaker 1: neat on the bone like there was for Hillary, when
Speaker 1: you could really just tap into people's loathing of the
Speaker 1: Clintons and all that. Anyway, so Trump seems to be
Speaker 1: coming for not just the right to vote, but the
Speaker 1: ability to vote by mail. And the way that he's
Speaker 1: doing that is like he has a point to some
Speaker 1: guide to the Postal Service, who is now pulling, like
Speaker 1: defunding in some way some of the crucial services, and
Speaker 1: the post Service is struggling like financially because people are
Speaker 1: not using their services. So much in the time of COVID,
Speaker 1: but then it seems like all of this has like
Speaker 1: kicked up in the last week and all over social
Speaker 1: and I personally haven't looked to see if these images
Speaker 1: are like have been corroborated, and I probably should have,
Speaker 1: and I, like y'all, have just been seeing them on Twitter,
Speaker 1: people sharing them on instant and all that of like
Speaker 1: actual mailboxes being put on the back of trucks and
Speaker 1: then carded away. So the message, and this is what's
Speaker 1: really terrifying, is the message is getting out there that
Speaker 1: it's going to be hard to vote by mail this election.
Speaker 1: And I kind of wanted to just talk about that
Speaker 1: and talk about some facts around what you can do
Speaker 1: and how you can as much as you can try
Speaker 1: to be sure that your vote counts this year, because
Speaker 1: I'm worried that people are gonna like these images. They're terrifying,
Speaker 1: and we need to be doing things to support the
Speaker 1: post office. Like one of the most simple things you
Speaker 1: can do is go on to go online and buy
Speaker 1: a roll of stamps by the fevers. In fact, I
Speaker 1: think that they're about to increase the price, so it's
Speaker 1: not a bad time to get a role forever stamps anyway,
Speaker 1: because you know, you buy it at the current price
Speaker 1: and then you have those stamps forever. You don't have to,
Speaker 1: you know, buy additional stamps if the price goes up.
Speaker 1: But yeah, let's let's like what's your perception, benif Like,
Speaker 1: what have you seen and and you know, what are
Speaker 1: your thoughts on everything going on?
Speaker 2: No, it's honestly really scary. I think I saw like
Speaker 2: it was like a quote by our forever president, Barack Obama,
Speaker 2: and he was like, uh, never have we seen an
Speaker 2: actual president say I am going to be shutting down
Speaker 2: basically the post office so you can't vote against me.
Speaker 2: Like that's he basically has said that, Like I don't
Speaker 2: want you to vote. I don't I don't want you
Speaker 2: to vote me out. I just how is this allowed?
Speaker 2: I'm not gonna lie. There's just you know, it's just
Speaker 2: like too much. You're just like, how is this allowed?
Speaker 2: How are you allowed to openly try to cheat and
Speaker 2: steal the election with impunity?
Speaker 1: You know? I just yeah, well, it's only allowed if
Speaker 1: our elected officials allow it to happen. I mean that.
Speaker 1: And it's like, but the thing is, I mean, there
Speaker 1: have been even before Trump I mean the party in power.
Speaker 1: And I'm not going to say Democrats are without their
Speaker 1: faults as well, and probably have participated in, you know,
Speaker 1: different strategies that make it more difficult to people who
Speaker 1: oppose them to get out there to vote. But the
Speaker 1: current voting system truly favors people who tend to vote
Speaker 1: you know, Republican. I mean you think about black voters,
Speaker 1: lets you know, voters, immigrant voters, I mean, there are
Speaker 1: there are whole like there are whole vehicles in motion
Speaker 1: meant to suppress their ability and their right to vote.
Speaker 1: And it's it's happening now. I mean, and you know,
Speaker 1: y'all know, I'm from Georgia, and I talk about Stacy
Speaker 1: Abrams a lot and what she has done since she
Speaker 1: quote unquote lost the gubernatorial race in Georgia a couple
Speaker 1: of years ago, you know, and she has been fighting
Speaker 1: to raise awareness about you know, suppression of voter rights
Speaker 1: in Georgia. But it's not just Georgia. It's all over
Speaker 1: and you know, I just want people to understand. So
Speaker 1: the fear here and this is what Trump is kind
Speaker 1: of like trying to get away with saying, oh, if
Speaker 1: people vote by mail, there's going to be a lot
Speaker 1: of fraud. So we have to prevent people from vote
Speaker 1: voting by mail because there's going to be fraud. Just
Speaker 1: this very scary kind of like buzzword that his base
Speaker 1: just loves voter fraud, which has no basis in fact,
Speaker 1: like many things that he has said, but whatever the
Speaker 1: thing is, Like he's trying like absentee voting is male
Speaker 1: in voting, like people have been doing it for a
Speaker 1: long There's whole states where everyone votes by mail. This
Speaker 1: is not like a new concept, but he's making it
Speaker 1: kind of seem like it's this foreign way of voting
Speaker 1: and oh my goodness, it's just not reliable and all that.
Speaker 1: But here's what you guys can do. And I really want,
Speaker 1: like tele a friend to tell a friend because I
Speaker 1: feel like, you know, I ever really know where people
Speaker 1: are coming from or what they're reading, where they're getting
Speaker 1: their news, and you know what perceptions they may have.
Speaker 1: But there are many states where you can actually vote early.
Speaker 1: So if you're if you are, you know at this point,
Speaker 1: I know family of mine in Georgia is even just
Speaker 1: like doesn't trust the post office, like they're worried if
Speaker 1: they put their vote in the mail. You know it'll
Speaker 1: get lost, but they're also worried that they're going to
Speaker 1: stand in line at a polling place and catch COVID
Speaker 1: and potentially die because you know who's COVID killing at
Speaker 1: a higher rate Black Americans, So it's like a catch
Speaker 1: twenty two. So they feel insecure about their vote counting
Speaker 1: if they vote by mail, but they also are worried
Speaker 1: about risking their health by showing up to the polls.
Speaker 1: So if you are determined to vote in person, see
Speaker 1: if you can vote early in your state. I was
Speaker 1: just checking New York. We can definitely vote early, So
Speaker 1: I'm figuring out how to do that, and this happened
Speaker 1: to me. I talked about like the primary this summer,
Speaker 1: if you guys were caught in like hours long lines,
Speaker 1: like I was in my county because voter turnout was
Speaker 1: high and they had low so many polling places because
Speaker 1: there's like there's like such low numbers of volunteers for
Speaker 1: polls because of the COVID situation. There were really long
Speaker 1: lines during the primary and I and I actually had
Speaker 1: to step out of line because they didn't have childcare.
Speaker 1: So I went home and Thenrika had to go out
Speaker 1: and he voted that night, but I didn't, and I
Speaker 1: was like, there's no way in hell this is happening
Speaker 1: to me during the presidential election. So we're going to
Speaker 1: try to go out and vote early. That's one way
Speaker 1: to make sure your vote counts, and that you're kind
Speaker 1: of limiting your risk by trying to avoid those crowds.
Speaker 1: See and request. The thing is like mail in voting.
Speaker 1: Like if the government were to say, yes, let's make
Speaker 1: mail in voting available for every American, We're going to
Speaker 1: send everyone in ballot, that would be the ideal solution,
Speaker 1: right but right now that's not what's happening because Trump
Speaker 1: and his cronies are really trying hard to not let
Speaker 1: that happen. That being said, you can still request an
Speaker 1: absentee ballot. And I don't know exactly what the like,
Speaker 1: what the reasons you have to put on the absentee ballot,
Speaker 1: like what you can select to say why you have
Speaker 1: to vote absentee, but it's worth a try. And that's
Speaker 1: another way to you know, mailing your vote and have
Speaker 1: it counted. Because absentee ballots they are counted not as quickly,
Speaker 1: but they do get counted. I just really, I just
Speaker 1: hate the idea of people being I mean, I know
Speaker 1: it's it could be so much easier, but I just
Speaker 1: I it pisses me off that where that he could
Speaker 1: possibly be discouraging people from getting out there and voting.
Speaker 1: And this is not the time to sit down, like
Speaker 1: we need everybody, We need everybody and we have I
Speaker 1: don't just want him to lose, like I want him
Speaker 1: to be obliterated, like we need to send a message.
Speaker 1: I feel desperate in this and I haven't even been like,
Speaker 1: you know, I assume a lot of our listeners you know,
Speaker 1: aren't aren't aren't really Trump supporters. I mean, I'm just
Speaker 1: gonna make an educated guest. Maybe that's true, but I
Speaker 1: don't want to make anyone feel, you know, uncomfortable about
Speaker 1: their political leanings. But I know lots of Republicans who
Speaker 1: don't support this, Like, I mean, what he stands for
Speaker 1: are not values. I mean, they're conservative, but they're not
Speaker 1: they're there. You can't you can't. What I don't. What
Speaker 1: I don't think people can get away with this time
Speaker 1: around is you had a lot of Republicans last election
Speaker 1: saying and I'll shut up with this in I mean,
Speaker 1: I know I've been talking a lot. Sorry, I have
Speaker 1: a lot of Republicans say, you know, oh, well I don't.
Speaker 1: I don't believe in his you know, his social policies
Speaker 1: or his you know, his his obviously you know, racist
Speaker 1: and xenophobic beliefs. But you know, I'm I'm a Republican
Speaker 1: and I believe in smaller government and less taxes, and
Speaker 1: I just got to vote for this guy. Like I
Speaker 1: think at this point, you can't. Like maybe in twenty sixteen,
Speaker 1: maybe you could say that, you know, you can get
Speaker 1: away with saying, well, he won't do what all he
Speaker 1: says about these social issues. He's just going to go
Speaker 1: in and you know, and and push, you know, toward
Speaker 1: a more conservatives fiscal policy and all that. But he
Speaker 1: has shown you who he is now, so when you
Speaker 1: cast your vote for him, it's going to show us
Speaker 1: who you are, and it's going to it's just going
Speaker 1: to be unacceptable. I just can't. I just don't know
Speaker 1: how anyone could, you know, cast a vote for him,
Speaker 1: And I I think it'll be even more devastating than
Speaker 1: it was in twenty sixteen if he wins. And I'm
Speaker 1: truly scared that that's what will happen. If people you
Speaker 1: know aren't out there voting, and Tiffany, you may now
Speaker 1: don't mean to be quiet, but no.
Speaker 2: I think it's that. I mean, it's just that important.
Speaker 2: I mean, there's no I don't know because before I know,
Speaker 2: people voted because it was like, what's the worst that
Speaker 2: can happen? We are literally living in the worst that
Speaker 2: could happen, not even the worst, but meaning that.
Speaker 1: We couldn't imagine what it could be. Now it's yeah,
Speaker 1: even I.
Speaker 2: Was like, oh no, I don't want. I was like, wow,
Speaker 2: to have someone so ill equipped to manage during literal
Speaker 2: crisis and to have people die as a result.
Speaker 1: Yeah, I just.
Speaker 2: Yeah, I just we have to get out there there
Speaker 2: and vote. I mean, there's just no other.
Speaker 1: And we're all tired, right, we're tired, exhausted. There's a
Speaker 1: lot to be cynical about. There is, especially if you're
Speaker 1: a black body in this country. I know, exactly know.
Speaker 1: But please show up, Please show up and vote early.
Speaker 1: Bring a friend with you. Tell everyone if you can
Speaker 1: vote early in your in your state. Let everyone know
Speaker 1: that you can. You know, we need facts to win.
Speaker 1: We definitely, definitely, definitely do also fill out your US Census. Okay,
Speaker 1: this completes your US government APEUS government class.
Speaker 2: You know, the census taker came to my house this weekend.
Speaker 1: Did they really we didn't get one? Yeah, okay.
Speaker 2: I was surprised. I was like, you guys are coming
Speaker 2: out so, I mean, they had their masks on, and
Speaker 2: I just like answered them at the door. I mean
Speaker 2: I answered, like, but I was surprised because I was like, oh, okay.
Speaker 1: Well, you know, they're ending the census early for no
Speaker 1: good reason, but they're doing it a little bit earlier
Speaker 1: than planned. I think the end of September now September thirtieth.
Speaker 1: It was supposed to go through October. Let's talk about
Speaker 1: a sense of so because you can't. The census is
Speaker 1: it's only done every ten years, and it is how
Speaker 1: governments decide like who is in different districts, like what's
Speaker 1: the racial makeup demographics? This all is, this all feeds
Speaker 1: into policies. So the legislation that's happening, the rules that
Speaker 1: are being implemented that you don't agree with, like part
Speaker 1: of that happens because of the census. And it's incredibly important,
Speaker 1: so important that like Cardi b even did an ad
Speaker 1: for New York, like a viral ad for New York
Speaker 1: to fill out New Yorkers to fill out the census.
Speaker 1: But you got to do it, and they're giving you
Speaker 1: even less time than usual. Of course why because the
Speaker 1: people in power it doesn't behoove them if brown and
Speaker 1: black people show up in the census. And there's all
Speaker 1: kinds of really terrible like misinformation out there being shared
Speaker 1: on social media, like if you fill out a census
Speaker 1: and you're an illegal immigrant, that you can be deported
Speaker 1: and things like that, which is not true. Yeah, it's
Speaker 1: another it's another way that you know, uh, people are
Speaker 1: trying to suppress the vote of or sorry, suppress the
Speaker 1: voice of black and brown Americans. And we've got to
Speaker 1: get out there. Please fill out your senses. You can
Speaker 1: do it online, just google Census. You can do it online.
Speaker 1: You don't have to wait for someone to knock on
Speaker 1: your door.
Speaker 2: Yeah no, I mean, I you can do it online.
Speaker 2: And that's also I mean they've been mailing like the
Speaker 2: like the census paper.
Speaker 1: I think we got the paper. Yeah, I think we
Speaker 1: got the paper too.
Speaker 2: Yeah, I think mailed like they I've gotten it so
Speaker 2: many times. So there's just so many ways make yourself
Speaker 2: be counted.
Speaker 1: Let's put a link. We'll put a link in our
Speaker 1: show notes. Yeah can say that, you know, Okay, well
Speaker 1: made a little bit easier for y'all, but I'm sure that.
Speaker 1: And I'll also find a good resource for you to
Speaker 1: find out if you can vote early. But let's let's
Speaker 1: I don't think it's too early to be starting. Look,
Speaker 1: they already got pumpkin spice things on the shelves, y'all,
Speaker 1: Like we can be talking about November election. Let's let's
Speaker 1: do it exactly.
Speaker 2: This is something that's totally random. But have you seen
Speaker 2: like there's this is a New York Times. I don't
Speaker 2: know if it's New York Times, but I just saw
Speaker 2: something where it's like there's a growing phenomenon in marriage
Speaker 2: called living apart together or lots, which I'm like, that
Speaker 2: is so millennial. Lets what we're couples, Yes, we're couples
Speaker 2: choose not to live together even after marriage. Given the
Speaker 2: chance to do this, would you be would you be
Speaker 2: married living get living separately with your partner? I'm like, wow,
Speaker 2: I never heard of that before. But I mean I've
Speaker 2: heard of I've definitely heard of not necessarily married people,
Speaker 2: but people like a Steedman and an Oprah or Goldie
Speaker 2: Hawn and Kurt Russell, like folks who are like in
Speaker 2: long term like you know, partnerships that they have their
Speaker 2: own houses and things like that, but they're not married,
Speaker 2: but then you know they together. Yeah, but well, I
Speaker 2: don't know. I don't well, honestly, I don't mean.
Speaker 1: I think Oprah and seventy seven play is his own
Speaker 1: wing of the estate, right, But isn't that like yeah,
Speaker 1: I mean, I'm not gonna say it's weird because I know,
Speaker 1: but I guess it's kind of like, uh, it's it's this.
Speaker 1: Is this the new separate bedrooms or separate beds? You know,
Speaker 1: like in the sixties or whatever, they should show like
Speaker 1: like couples bedrooms and they would have like separate beds.
Speaker 2: I wonder if this is the new separate beds or
Speaker 2: separate bedrooms, what's the benefit? Yeah, I guess it's like
Speaker 2: I don't know, it's financial.
Speaker 1: Is it a tax thing?
Speaker 2: No? I think the benefit is you can only get
Speaker 2: on my nerves but so much.
Speaker 1: But I'm like, but that's part of marriage.
Speaker 2: I think. I don't know. I just thought that that
Speaker 2: was interesting, Like someone's like, what's the point in that exactly,
Speaker 2: Like isn't that the point of why not just have
Speaker 2: a boyfriend?
Speaker 1: Yeah?
Speaker 2: A girlfriend?
Speaker 1: By why I get married? Like, yeah, I have to
Speaker 1: do that marriage.
Speaker 2: You really don't. So I just thought that that was
Speaker 2: really interesting. Like last I would love to hear from y'all.
Speaker 2: Maybe maybe hashtag us like so tag me the Budgeanista
Speaker 2: Mandy Mandy with an Eye, Money and Brian and Vision
Speaker 2: podcast on Insta and let us know what do you
Speaker 2: think about and then let us know what you think
Speaker 2: about lat so hashtag lat you know, could you consider
Speaker 2: living apart while you're together.
Speaker 1: I'm sure a lot of people would just love to
Speaker 1: have a backup house so that they could just like
Speaker 1: there's a little bridge that connects them. I had there
Speaker 1: was some celebrity couple that had to they had two
Speaker 1: houses connected by a bridge, and like he lived in
Speaker 1: one house and she lived in the other. Sometimes that
Speaker 1: would be nice, But I still like my husband enough
Speaker 1: to like want to live with him.
Speaker 2: That's the only way to me, Like, I feel like
Speaker 2: I could do that if I was like not liking
Speaker 2: my husband and I'm old, I could see, like, you know,
Speaker 2: being like seventy years old, Like yeah, he gets on
Speaker 2: my nerve. But anybody getting divorced at seventy that I
Speaker 2: could see that or which I have seen happen, especially
Speaker 2: for immigrant families. It's like he goes to such and
Speaker 2: such country first to make away for us like that
Speaker 2: I can see, you know, But there's no judgment. I'm
Speaker 2: just curious, like some of y'all young'ins, would you be
Speaker 2: open to let living?
Speaker 1: So yeah, living? All right? Well, uh well, definitely interested
Speaker 1: in y'all's responses to that. If you're still, you know,
Speaker 1: in love with your spouse five months into quarantine, then
Speaker 1: God bless you. And we're doing it, y'all, Like we
Speaker 1: haven't killed our spouse's yet. Enrique still lives and it's
Speaker 1: kind of crazy. Five months into this thing. It's nuts.
Speaker 1: I will say, homeboy Rio started to crawl last week, y'all,
Speaker 1: and I like, like really crawl, and I always knew
Speaker 1: he was going to be very good at it as
Speaker 1: soon as he you know, he really wants to walk.
Speaker 1: He's he's not down with this whole crawling life. He
Speaker 1: would prefer if he could walk like a grown adult,
Speaker 1: but he he'll deal with crawling because it's a good
Speaker 1: way to get into Molly's dog dishes. But it's next
Speaker 1: level uh quarantining with working from home with the with
Speaker 1: the U with a crawler. I have to say it's
Speaker 1: I'm not sure if I don't know how much longer
Speaker 1: I could do this, But so far, so good. And
Speaker 1: shout out to y'all again for for hanging in there.
Speaker 2: Oh well, let's take a quick.
Speaker 1: Break after your lessons in civics and be right back.
Speaker 1: All right, we are back.
Speaker 2: It's time for question my favorite part, my favorite pot,
Speaker 2: my favorite pad.
Speaker 1: Yeah. Well, before we get into y'all's questions again, you
Speaker 1: can go to Brand Ambition Podcast dot com. You can
Speaker 1: send us a question there by clicking on ask us Anything,
Speaker 1: or hit us up directly on DM on Instagram. We're
Speaker 1: at Brown Ambition Podcast on Insta or email us Brown
Speaker 1: Ambition Podcast at gmail dot com dot com. All right,
Speaker 1: let me dig through my my reader bag, all right
Speaker 1: before we get into your questions. I really want to
Speaker 1: Sometimes you guys send us just really thoughtful messages and
Speaker 1: they mean so much to me in Tiffany when we
Speaker 1: get them. So I wanted to share one that we
Speaker 1: got from someone who wants to remain anonymous. She's someone
Speaker 1: who recently saw Tiffany on Queerie and she's in a
Speaker 1: same sex relationship, and she had this to say. I
Speaker 1: saw Tiffany on Queerie and my wife said, wait, what
Speaker 1: did she say? Rewind it. Ever since then, I have
Speaker 1: been listening to y'all's podcast, and we signed up for
Speaker 1: the liverach Or Academy. My wife used to literally stay
Speaker 1: awake at night thinking about money moves. The podcast and
Speaker 1: the literature Academy have been a blessing. I am black
Speaker 1: and my wife is white. We face discrimination at work
Speaker 1: in various forms due to our quote unquote lifestyle. These
Speaker 1: challenges have led us to seek other career paths. We
Speaker 1: decided to focus on what makes us happy as a
Speaker 1: couple and as moms, feeling fulfilled and at peace. We
Speaker 1: have to say that this podcast in its messages have
Speaker 1: been a welcome relief to us. I don't have black
Speaker 1: friends and have been longing to have positive black voices
Speaker 1: in my ear. Our son, who are our world, is
Speaker 1: also Caucasian. I am outnumbered at home and at work.
Speaker 1: We took so many boxes and diversity that we are
Speaker 1: very isolated. Our goal is to move to France because
Speaker 1: we feel comfortable and welcome there as a lesbian interracial couple.
Speaker 1: We're all taking French classes and moving towards those goals daily.
Speaker 1: We loved the Our Rich Journey episode. The grace and
Speaker 1: serenity they have is something to aspire to obtain. Not
Speaker 1: to give my entire life story. I just wanted to
Speaker 1: say that I really appreciate you both.
Speaker 2: Oh that's really send you yeah, sending your love some hugs.
Speaker 2: You know, that's you know, it's not easy being quote
Speaker 2: unquote other, you know. I mean, that's why you know,
Speaker 2: Mandy and I do this podcast because Mandy, you represent
Speaker 2: other in different ways, and I represent other in different ways, and.
Speaker 1: But we're not doing all the others. There's so many others.
Speaker 2: And I know, and that's why I think I was
Speaker 2: telling somebody. I think it was I was. I wasn't
Speaker 2: we going to talk about the Elevate conference later on
Speaker 2: but in our brob break, But I was. I helped
Speaker 2: to do the opening of this conference called Elevate, which
Speaker 2: seeks to give voice to other in the personal finance space,
Speaker 2: like so LGBTQ. I think I'm saying it right. I'm sorry,
Speaker 2: I'm not, but also black and brown and Asian and
Speaker 2: and you know, because they're just even despite all the
Speaker 2: movement that's been made in this space, largely the voice
Speaker 2: of you know, what's heard in the personal finance spaces
Speaker 2: is white and male, and you know, and that is
Speaker 2: one perspective. It's not invalid, but it's not the only perspective,
Speaker 2: and neither is mine. I don't speak for all black
Speaker 2: or brown women, and nor should I. I just think
Speaker 2: that there's so much room and necessity for so many
Speaker 2: different voices. And I'm just so happy to see that
Speaker 2: that's happening and that you found us, and yay, and yes,
Speaker 2: our rich journey is also a great resource. I've been like,
Speaker 2: like you said, the grace and serenity chap me and
Speaker 2: Maddy have been swirling ever since.
Speaker 1: Yeah, they had such a you know for such lovely, peaceful,
Speaker 1: calm individuals. They just make waves wherever they go. It
Speaker 1: feels like I love, I think the value in them
Speaker 1: and what Tiffany I both seem to have gotten out
Speaker 1: of it was just just like, you know, pause and
Speaker 1: oh wait a second, let's let's reassess how we are
Speaker 1: living life or how we are working and just be
Speaker 1: open to that. And I love that y'all are thinking
Speaker 1: about France because I think stories like Christina and a
Speaker 1: Mon's are really powerful because they show you a different
Speaker 1: way of life, like why not Portugal? It makes you,
Speaker 1: it forced you to ask that question, well, why don't
Speaker 1: I move to France where I would feel more comfortable,
Speaker 1: especially in the time of COVID, when it makes even
Speaker 1: less sense that I live where I do now with
Speaker 1: these high ass taxes. There's no school and like it's
Speaker 1: very expensive, and I'm.
Speaker 2: Like, well, well why do I live here?
Speaker 1: Oh? Because it's you know, a good commute to work,
Speaker 1: the way that we have, just like we have all
Speaker 1: just built our lives around you know, this way of life,
Speaker 1: this nine to five or you know, wherever your business
Speaker 1: is based. And yeah, it's a really good inflection point.
Speaker 1: And I'm happy to hear that. You know, the show
Speaker 1: is helping you get there, and also stories Christina and
Speaker 1: Aman's and but I get it. I know, I can
Speaker 1: kind of understand what it's like to be you know,
Speaker 1: you're so many layers of other that people sometimes don't
Speaker 1: know what to do with you, Like, oh, which box
Speaker 1: I put you in? Like, oh, seven five different boxes?
Speaker 1: I cannot compute error error and it's not fair, but
Speaker 1: it's good for y'all to, you know, speak out and
Speaker 1: remind folks that you know, not everyone is. You know,
Speaker 1: there are these others, you know types out there, and
Speaker 1: y'all are just as valid and your concerns are just
Speaker 1: as valid as everyone else.
Speaker 2: Yes for sure.
Speaker 1: All right, well, thank you for sending that message, Anonymous.
Speaker 1: All right, well, let's back to our regularly scheduled programming.
Speaker 1: Let's get to a question. This one's a good one.
Speaker 1: This comes from a listener who was recently furloughed and
Speaker 1: has a question about her credit debt. All right, I
Speaker 1: can get my screen shot back. All right, Hey, ladies,
Speaker 1: she says, I'd like to be called Raven. And the
Speaker 1: baby's eating, so you know it's in your time. Here,
Speaker 1: see all my here, little a little rio magic in
Speaker 1: the background. All right, Raven says, hey ladies, I am
Speaker 1: here repping the dream Catchers. I desperately need advice because
Speaker 1: I want to make the right steps in securing my future.
Speaker 1: And it's my first week back to work after being furlowed. Okay,
Speaker 1: so she's been furlowed for several months. She's been able
Speaker 1: to save a lot because she cut out a lot
Speaker 1: of unnecessary bills and no longer has a car payment.
Speaker 1: I'm living on my noodle noodle budget, she says. Show
Speaker 1: it's tiffany. My main bills are my rent, insurance, and internet,
Speaker 1: so about fourteen hundred dollars. During my time off from work,
Speaker 1: I've started working on my own business. Okay. So while
Speaker 1: she was furloughed, she started to think about ways to
Speaker 1: invest in her own business, and she's wanting to invest
Speaker 1: about three thousand dollars into herself, which she says, I
Speaker 1: feel I can save up for as I usually can
Speaker 1: save about five hundred dollars every other paycheck. However, my
Speaker 1: biggest concern, she says, is about the last of my
Speaker 1: credit card debt, which is sixty six hundred dollars right now.
Speaker 1: This card she's using has a zero percent interest rate,
Speaker 1: but the promotion will be ending in September, and the
Speaker 1: credit card issuer said that the interest rate could go
Speaker 1: as high as thirty percent. My credit score is seven eighty, Okay,
Speaker 1: she says. What should I do? Should I take the
Speaker 1: money out of my savings and just pay the card off?
Speaker 1: But that concerns me since I'm more than likely going
Speaker 1: to be placed on furlough again in November until January. Okay,
Speaker 1: so let's unpack this. So she's got this sixty six
Speaker 1: hundred dollars of credit card debt on a zero percent
Speaker 1: interest card. So it sounds like she got a great
Speaker 1: promotional credit card offer. That's nice. She's been saving on
Speaker 1: the side. She got like sixteen K in the bank.
Speaker 1: She's probably whittled that down a little bit since she
Speaker 1: was furloughed, but she's got some savings. September is coming, right,
Speaker 1: it's very as soon upon us. Her interest rate promotion
Speaker 1: is going to be ending. It could go up to
Speaker 1: thirty percent. But she's got pretty decent credit. What are
Speaker 1: you thinking, Tiffity.
Speaker 2: Well, first I'm like, YI, so this is I'm glad
Speaker 2: to Raven, Hey girl, DC, But I'm glad that this
Speaker 2: is That's such a great question, because well, Raven, you're
Speaker 2: in a great position. Because first thing I would do
Speaker 2: is fly to Magnify money dot com and find fly, Yes, fly,
Speaker 2: and find myself a balanced transfer card. Because you're in
Speaker 2: a great position, Raven, because you have excellent credit. I
Speaker 2: can't promise that whatever your balanced transfer card is going
Speaker 2: to be, it's gonna take the full sixty six hundred,
Speaker 2: but see how much you're able to get, and because
Speaker 2: I quite honestly might go for two of them because
Speaker 2: up to thirty percent, and that's compounding. So for those
Speaker 2: of you, what I mean is this is that, let's
Speaker 2: just say, for the sake of argument, Raven owed a
Speaker 2: dollar and they were like, oh, you didn't pay off
Speaker 2: this dollar. Your promotion ends. You're going to have to
Speaker 2: pay thirty thirty cents on that dollar and fees. That's
Speaker 2: a dollar thirty. And then what compounding means is that
Speaker 2: if she doesn't pay off that dollar thirty by the
Speaker 2: next month, she's paying an additional thirty percent on not
Speaker 2: just the dollar again, but the full dollar thirty. Yeah,
Speaker 2: and so every month it's just I mean, I'm making
Speaker 2: it really simple obviously, but every month it's going to
Speaker 2: you're going to be paying not just interest on the
Speaker 2: on the principle the original dollar, but interest on the interest,
Speaker 2: and interest on the interest interest, and interest on the
Speaker 2: interest interest, Like do you see, Like, yeah, so it's
Speaker 2: not five percent, it's not six percent, potentially thirty percent.
Speaker 2: That's egregious. So I would literally fly up to magnify
Speaker 2: mag ni f y magnify money dot com. And we're
Speaker 2: not just shouting it out because that's where many works.
Speaker 2: Well kind of because back they're about by London try,
Speaker 2: but still it's still one of my favorite go to sites,
Speaker 2: magnify money dot com. Look for a balanced transfer card,
Speaker 2: maybe two if the first one doesn't fully take on
Speaker 2: the sixty six hundred, Because normally, if if you weren't
Speaker 2: to me, if raven, you weren't subject to furlough in
Speaker 2: a month or so, I might just say, girl, take
Speaker 2: that six thousand off from your sixty one hundred and
Speaker 2: paid off. Normally, that's not what I would say, but
Speaker 2: because of the potential high interest, that's what you know
Speaker 2: I would.
Speaker 1: I would.
Speaker 2: I would have said that if we weren't in you know,
Speaker 2: quarantine and pandemic and all that kind of stuff. Now,
Speaker 2: because you're right, I need you to hold on to
Speaker 2: your savings, but that's what I would do. I would
Speaker 2: get one or two balanced transfer card to transfer that
Speaker 2: balance so you can pay it down slowly without having
Speaker 2: to tap into your savings, which you're going to need
Speaker 2: because you know you can be furloughed soon. So that's
Speaker 2: what I would do.
Speaker 1: Yeah, and I think I mean, your credit score right
Speaker 1: now is an asset, and this is we talk about
Speaker 1: credit scores a lot. People are obsessed with their credit score,
Speaker 1: and I think you it's the kind of asset you
Speaker 1: kind of want to have in your back pocket when
Speaker 1: times can be tough like this, because it gives you
Speaker 1: access to affordable debt and in your case, with a
Speaker 1: seven to eighty credit score, it's likely, you know, we
Speaker 1: can't say for sure, but it's likely you could qualify
Speaker 1: for another credit card offer that's as good as this
Speaker 1: one zero percent for promotional period. So yeah, you can
Speaker 1: start there. I was wondering though, So, you know, because
Speaker 1: she's she's good at saving, obviously, she's got really good
Speaker 1: financial habits. She's trying to go in the next year
Speaker 1: because she's obviously in this career, this career path where
Speaker 1: she's being furloughed. She says again, she'll be furlowed this fall.
Speaker 1: She's already been furloughed once through the pandemic, and she's
Speaker 1: wanting to pivot away from this career and start her
Speaker 1: own business. Like what if she ends up in the
Speaker 1: same predicament again, So like, let's say she gets another
Speaker 1: twelve month APR, you know, for zero percent interest, and
Speaker 1: it's next year and things have been a little bit rocky,
Speaker 1: she's been furloughed, and like, I'm just I almost wonder, like,
Speaker 1: what's the case for talking about like a debt consolidation
Speaker 1: loan through a credit union at a super low rate,
Speaker 1: because and this is just me presenting another option. I'm
Speaker 1: not saying it's a better option. I mean, you do
Speaker 1: it ultimately what you want to do, Raven, I forgot
Speaker 1: your your code name, Raven. But like with a debt
Speaker 1: consolidation loan, with your excellent credit, you know you can
Speaker 1: probably get you know, rates are p really really low
Speaker 1: right now, and go to a credit union see if
Speaker 1: they can give you a a personal loan for the
Speaker 1: amount that you want to pay off your credit card.
Speaker 1: And that gives you that's that's a one time loan.
Speaker 1: It's a fixed payment. You know how much you're going
Speaker 1: to pay each month, and you know when the loan's
Speaker 1: going to be paid off. And yes, you pay a
Speaker 1: little bit of interest, but you don't have to worry
Speaker 1: about it ever expiring and getting hit with Like the
Speaker 1: thing about these zero percent EPR offers is sometimes they
Speaker 1: even have a deferred interest clause, which isn't just like, oh,
Speaker 1: your interest rate's going to go up, you know when
Speaker 1: this promo period's over. It's also, oh, we're going to
Speaker 1: go back to the very beginning and pretend like you
Speaker 1: were paying interests the entire time and just smack all
Speaker 1: that interest onto your balance and then, like Tiffany was saying,
Speaker 1: then compounding interest takes over and then you're just like
Speaker 1: seriously screwed. Yes, So I would consider as a second option.
Speaker 1: You know, you know your financial picture better than anyone.
Speaker 1: You know about your job and your ability to get
Speaker 1: this business off the ground. But that's another option you
Speaker 1: might want to look into.
Speaker 2: Is you know, Yeah, that's a great one too. That
Speaker 2: could talk to Mandy's point. So if you have two
Speaker 2: so I know you're right, man, some people are just
Speaker 2: totally obsessed with their credit And I'm always like, once
Speaker 2: you have a seven fifty, you can calm down, Susan, Yeah,
Speaker 2: because at eight fifty is like elusive. I know, but
Speaker 2: I'm like nobody, it doesn't.
Speaker 1: It doesn't, man.
Speaker 2: I tell people like it's arranged literally seven fifty to
Speaker 2: eight fifty. It's considered AA plus, Like we're both going
Speaker 2: to Harvard boo, I will see you with my seven fifty.
Speaker 2: So that's why. So I'm glad Raven that you've been
Speaker 2: able to maintain a high credit score. Because now you
Speaker 2: have two great options. You might do a mix and match.
Speaker 2: You might do like, hey, let me see, because they
Speaker 2: don't like, they don't tell you the balance cornsfer card
Speaker 2: people that you choose, like I said, if you go
Speaker 2: to Magnify money, they won't tell you how much until
Speaker 2: it kind of goes through. So let's just say of
Speaker 2: the sixty six hundred they say, hey, you know, you're
Speaker 2: approved for four thousand, and then you might get as
Speaker 2: many mentioned You might go to a credit union and
Speaker 2: get the rest. So you can mix and match. You
Speaker 2: can do one or the other. But because of your
Speaker 2: of your good credit, you have options, which is really.
Speaker 1: Good exactly, options and freedom to choose. So take advantage
Speaker 1: of that. All right, can we take one more question?
Speaker 1: You got time?
Speaker 2: Of course?
Speaker 1: Always? All right? Of always? What am I saying, Lord Tiffany,
Speaker 1: I are both like sweating and our with no ac
Speaker 1: on uh, just losing our minds. All right, here's a
Speaker 1: question from a listener called Eve. All Right, Eve says,
Speaker 1: high ladies, I want to start investing in stocks. Is
Speaker 1: there an app you guys can recommend for beginners. I've
Speaker 1: tried Acorns and didn't like it too much. I'm currently
Speaker 1: looking into robin Hood and Stash, but I'm not sure
Speaker 1: which would be better for beginners. This is a hot question.
Speaker 1: Everyone with all their free time right now is trying
Speaker 1: to get into stock investing, which is like good and bad. Yeah,
Speaker 1: good because it's exciting to grow your wealth and you know,
Speaker 1: I am all we're all about that. But yeah, these
Speaker 1: are these are very common apps to Tiffany, you're a
Speaker 1: fan of acorns. I think you also use robin Hood.
Speaker 1: I've used I've used robin Hood. I've never used acorns
Speaker 1: or stash, But yeah, what what what do you? What
Speaker 1: are your opinions? Because all we can share is our opinions.
Speaker 1: Really what we I mean.
Speaker 2: If it depends on what you're trying to do, Like
Speaker 2: I I call I like to use robin Hood for
Speaker 2: what I call fun investing. That's why I'm like, oh,
Speaker 2: you know, I heard of a hot stock or whatever.
Speaker 2: Let me do some more research on blah blah blah.
Speaker 2: I'm gonna buy a few of it. I'm not like
Speaker 2: I don't use robin Hood for like hardcore like you know, investing,
Speaker 2: not to say that you can't. I'm just saying how
Speaker 2: I use it.
Speaker 1: I just use it, I mean like long term.
Speaker 2: Yeah, I mean like even though I don't really I'm
Speaker 2: not really big on selling, but meaning like I use
Speaker 2: robin Hood to kind of test out my theory. I'm like, oh,
Speaker 2: I wonder how much let me see, let me get
Speaker 2: the stock at this price. But then I use what
Speaker 2: am I using for? Like the long term? What was that?
Speaker 1: Like? I feel like it starts with the E.
Speaker 2: It's a brokerage account that I actually used for like
Speaker 2: if I'm going to do like bigger stock purchases.
Speaker 1: Eat Trade because uh yeah, eat Trade Okay.
Speaker 2: So I just use that for like, you know, like
Speaker 2: more of a like an in depth like because I
Speaker 2: like Holly, I'll use their tools I used to learn more.
Speaker 2: I'm like, you know, really like more invested, and I
Speaker 2: haven't used them in a while because I financial advisor
Speaker 2: or financial planner now, But who does those things for me?
Speaker 2: But That's what I was using it for back then,
Speaker 2: But I despite I have so I've since rolled over
Speaker 2: my E trade account money, but I still maintain my
Speaker 2: robbin hood. So even though I have a financial planner,
Speaker 2: whenever I hear about a stock where I'm interested or whatever,
Speaker 2: I you know, I kind of give myself like a
Speaker 2: few hundred dollars to purchase things when if it seems
Speaker 2: to make sense for me. So, I mean, I'm probably
Speaker 2: not the best persons because I'm not super heavy into
Speaker 2: stock investing, but I do like robinhood at least to start.
Speaker 1: Well. Yeah, and here's what I'll ask Eve is when
Speaker 1: you talk about you want to get into stocks. And
Speaker 1: I was just talking to my husband about this because
Speaker 1: I have to remind him all the time, like, baby,
Speaker 1: we are investing in stocks, we have index funds, we're
Speaker 1: investing in hundreds of stocks. But it doesn't feel like
Speaker 1: there's this idea of like trading stocks and investing that
Speaker 1: kind of intimidates people because they think they need to
Speaker 1: understand company financials and they need to watch CNBC and
Speaker 1: you know, and readers and all this kind of thing
Speaker 1: to invest. I think if you ask yourself first and foremost,
Speaker 1: you know, what are your goals when you're talking about
Speaker 1: you want to start investing in stocks? Is it like
Speaker 1: Tiffany said, you know, you want to just see what
Speaker 1: can happen with a few extra hundred dollars, you know,
Speaker 1: if you invest in a little bit here, a little
Speaker 1: bit there. You just want to like test things out.
Speaker 1: I would say Robinhood's a great tool because it's a
Speaker 1: really easy to use interface. I'm a fan of robin Hood.
Speaker 1: It's commission free, so you don't get charged. A lot
Speaker 1: of places because of Robinhood now offer commission free trades
Speaker 1: because it's just fairly competitive and how can you beat it? Right,
Speaker 1: So that's what makes it an attractive kind of app
Speaker 1: for beginners. It's an easy interface. You transfer money and
Speaker 1: then you can, you know, buy your stocks right then
Speaker 1: and there. I think they even offer not just they
Speaker 1: used to just do individual stocks, but I think now
Speaker 1: you can actually buy mutual funds and ETFs through the
Speaker 1: Robinhood app as well, which makes it even more attractive
Speaker 1: because those types of investments are different than individual stocks.
Speaker 1: With an ETF or a mutual fund, the beauty in
Speaker 1: those is that you get exposure to all kinds of
Speaker 1: stocks all in one little pretty package, and you don't
Speaker 1: need to you know, it's more diversified, there's less you know,
Speaker 1: it's a little bit less risky because all your eggs
Speaker 1: aren't in one basket. Robinhood offers that I too use
Speaker 1: robin Hood just to kind of mess around. But as
Speaker 1: far as my goals, I mean, my goals are to
Speaker 1: retire suon ish like in the next couple of decades,
Speaker 1: which actually doesn't sound that long, like kind of freaks
Speaker 1: me out. What in twenty years, I'll be done, like
Speaker 1: what anyway, So that's my goal. So I've got like
Speaker 1: twenty to thirty years that I'm trying to save towards.
Speaker 1: So i have all of my investments outside of my
Speaker 1: four one K in Vanguard in index funds, and and
Speaker 1: I really I'm a Vanguard girl. I always have been.
Speaker 1: And it's not the most it's not the sexiest interface,
Speaker 1: it's not it's very blah. It kind of feels fuddy duddy.
Speaker 1: But Vanguard is like the og of the everyday investors.
Speaker 1: How I kind of feel like, you know, Jack bow
Speaker 1: Will invented the index fund and everyone hated him back,
Speaker 1: you know, back then. There's a lot of beauty I
Speaker 1: think in the simplicity of the Vanguard experience and for
Speaker 1: my goals, And you need to ask yourself what your
Speaker 1: goals are too for long term investing. I'd choose Vanguard.
Speaker 1: I used to have a target date fund through them,
Speaker 1: but I recently ditched it and I selected index funds
Speaker 1: on my own because I knew a little bit more.
Speaker 1: Target date funds are really great for a beginning investor
Speaker 1: because they take all the guesswork out of it. You
Speaker 1: just decide, okay, what around what year do I want
Speaker 1: to invest, and then you select the target date fund
Speaker 1: that matches that year, and they automatically rebalance your portfolio
Speaker 1: for you. The older you get, it gets more conservative,
Speaker 1: so you're not exposing yourself to so much risk. It's
Speaker 1: all very cool, but they, you know, the cost of
Speaker 1: the target date fund is is super low too, which
Speaker 1: makes it attractive. But once I learned more about which
Speaker 1: index funds to choose, I could save even more and
Speaker 1: get an even lower cost by picking them myself. But
Speaker 1: for the first like I don't know how old was
Speaker 1: I want to open my first four one K twenty four,
Speaker 1: twenty three, so like maybe the first six years I
Speaker 1: was rocking with the target date fund and listen, I
Speaker 1: killed it. I was so lucky to get to invest
Speaker 1: during the last recession when the market was so bad
Speaker 1: because everything was basically on sale, and the money that
Speaker 1: I put in there has just grown and grown and
Speaker 1: grown for the last you know, decade really and a
Speaker 1: target date fund served me very well. But when I
Speaker 1: was ready to do more, Vanguard was pretty easy. So
Speaker 1: I'm that's that's what I use. And you know, E
Speaker 1: Trade also is there. I think e Trade they they
Speaker 1: offer some commission free trading as well. I've heard good
Speaker 1: things about Stash too, Yes, I have to. I think
Speaker 1: what's beautiful is that there's all these options now, so
Speaker 1: you know, do your homework, do your googles, and you know,
Speaker 1: pick the one that that you think is great. But
Speaker 1: pay attention to fees, like what are they gonna if
Speaker 1: you are thinking about trading a lot, what are the
Speaker 1: fees to trade? You really want to find a place
Speaker 1: that's commissioned free because every time, if you're trying to
Speaker 1: trade stocks regularly, that's going to eat into your return
Speaker 1: and you know it's not not good for what you want.
Speaker 1: So you want really low cost. You know, make sure
Speaker 1: that the interface is easy for you to understand, and
Speaker 1: make sure that they offer what it is that you
Speaker 1: want to invest in, because they don't all offer, you know,
Speaker 1: exposure to the right you know, maybe the index fund
Speaker 1: that you want or the company that you're looking to
Speaker 1: invest in, or the ETF or whatever. So you know,
Speaker 1: that's all I can say there.
Speaker 2: So question, I know you you're a financial was she
Speaker 2: here financial planner or financial boxes? Do you still work
Speaker 2: with Helen? We had her on the show before.
Speaker 1: I love Helen. You know, I only got two birthday
Speaker 1: cards on my actual birthday, one from my daddy and
Speaker 1: one from Helen, my financial planner. Love her. Now we haven't.
Speaker 1: We last talked with Helen right before we had the baby.
Speaker 1: So Helen's kind of our life stages of financial planner.
Speaker 1: So we talked to her before we got married, We
Speaker 1: talked to her before we got our house. We talked
Speaker 1: to her before we had the baby to kind of
Speaker 1: like get ducks in a row. But she doesn't manage
Speaker 1: any investments for us, and she's a fee only planner,
Speaker 1: which is why I love Helen. It means it's kind
Speaker 1: of like going for you your annual checkup. I can
Speaker 1: book an appointment with her and I pay a flat fee,
Speaker 1: and you know, and then I and Helen continues to
Speaker 1: kind of check in on us, but there's no pressure
Speaker 1: to continue working with her and all that. But yeah,
Speaker 1: we still work with Helen.
Speaker 2: What I mean, I just asked because my one of
Speaker 2: my mentees was asking they were going to work with
Speaker 2: a planner. And when I tell you the egregiousness of
Speaker 2: what the planner was telling that he was going.
Speaker 1: To charge, I was like a girl.
Speaker 2: First of all, one point five percent of and then
Speaker 2: also five thousand dollars a year. I'm not saying I
Speaker 2: was like, no, no, no, I think it was like
Speaker 2: one of the other, but honestly, all together, it just was.
Speaker 2: It was I was just telling her, like no, that
Speaker 2: I was going to Like, there were three planners that
Speaker 2: I knew that I really liked. I have, you know,
Speaker 2: I have my planner Angelie, who I love. I also
Speaker 2: love Helen. I thought that she was awesome. And then
Speaker 2: there was another woman named Amy Irving that I had
Speaker 2: interviewed when I was looking for a planner. I remember
Speaker 2: I interviewed like twenty planners, right, and so I told
Speaker 2: her that I was going to, you know that should
Speaker 2: always interview more than one, that I was going to
Speaker 2: send her those three women. So I just was wondering.
Speaker 2: I couldn't remember if Helen was, you know, in what
Speaker 2: capacity you could work with her. So that's good to know.
Speaker 2: So I'm going to just send her over because I
Speaker 2: was like, girl, run, you know, like run.
Speaker 1: Yeah. What I love about Helen is that she's really
Speaker 1: been there through every stage of our financial lives.
Speaker 2: You know.
Speaker 1: We started working with her when we were about to
Speaker 1: get married, and then we worked with her closely when
Speaker 1: we were planning to get the house, and then we
Speaker 1: talked to her a lot before we had the baby,
Speaker 1: just trying to get our finance as an order. And
Speaker 1: she's very very transparent. Her company is Capital Benchmark Partners.
Speaker 1: But I think I found her through x Y Planning,
Speaker 1: which is an online network of fee only financial planners.
Speaker 1: So the key really is, you know, find your own Helen.
Speaker 1: I maybe called three different planners and interviewed them before
Speaker 1: I settled on the one that I, you know, thought
Speaker 1: was the best fit for me and I really recommend
Speaker 1: that and I.
Speaker 2: Found so I interviewed, said I'd interviewed Helen. I loved
Speaker 2: her as well. I think Helen. I think Helen might
Speaker 2: have been the one because but I had a lot
Speaker 2: going on. I think Helen might have been the one
Speaker 2: who actually suggested Angelie. Three of the financial planners that
Speaker 2: I actually interviewed suggested Angelie. They're like, uh, because I
Speaker 2: created this whole like Tiffany's money. She it was like
Speaker 2: six pages of all my money she had had against
Speaker 2: and they were like, yeah, girl, you need a special
Speaker 2: kind of planner. I suggest Angelie. And when I said
Speaker 2: three planners suggested her randomly, I was like, that's OK.
Speaker 2: It is a very good sign. And so because you know,
Speaker 2: you guys know I've got like five businesses and then
Speaker 2: you know, my husband works, and it just was I
Speaker 2: have some real estate, so it was more than just
Speaker 2: it wasn't as cut and dry as maybe my life
Speaker 2: like ten years ago. And so as a result of that,
Speaker 2: you know, you know, they suggested Angeline. And honestly, she's
Speaker 2: been wonderfully amazing. Would she when I say she has
Speaker 2: un like just disentangled all of my stuff and has
Speaker 2: created a helpful your plan to our goals? It just
Speaker 2: feels amazing. I used to be really afraid of my finances.
Speaker 2: Despite making good money. I didn't feel secure because I
Speaker 2: knew that's all I was doing well was making good money.
Speaker 2: That I wasn't making you know, I didn't have like
Speaker 2: a plan in place, and how do I get from
Speaker 2: here to here? You know, Like I mean, you know,
Speaker 2: Maddie and I always share how we're so adverse to
Speaker 2: like debt, but in some ways it was like to
Speaker 2: my detriment, I was I just I was hoarding too
Speaker 2: much cash and I knew that, and so yeah, so
Speaker 2: finding a fight the right financial plan for you is
Speaker 2: just if you need one, because not everyone needs a
Speaker 2: financial planner, but if you need one, finding the right
Speaker 2: one for you can really just be a godsend. So
Speaker 2: shout out to our financial planner. So it's good to
Speaker 2: know about Helen, because I'm gonna I'm gonna suggest that
Speaker 2: to my mentiks I told her like Angelie is not cheap,
Speaker 2: but because she typically works with people who are like me
Speaker 2: that have a lot going on, So you don't want
Speaker 2: to you don't want to overdo it unnecessarily with someone
Speaker 2: maybe like Angelie.
Speaker 1: You also really want to ask yourself, you know, what
Speaker 1: are my goals? Do I really need a financial planner
Speaker 1: at this stage in my life? Honestly, I think a
Speaker 1: lot of people, you know, with a little bit of
Speaker 1: research on your own. There's tons of books out there,
Speaker 1: there's YouTube channels you can follow, there's podcasts you can
Speaker 1: listen to, There's tons of articles, you know, that's what
Speaker 1: my whole team at lending Tree is always working on.
Speaker 1: There's a lot of free information that can help you,
Speaker 1: you know, reach some basic milestones, become debt free, you know,
Speaker 1: learn how to tackle your four one k uh, you know,
Speaker 1: learn how to save for a goal. I don't know
Speaker 1: that those are necessarily the types of things that makes
Speaker 1: sense to hire a financial planner to help with unless
Speaker 1: you're truly, truly, you know, just cannot handle it and
Speaker 1: you really need that coach. But even then, I would
Speaker 1: say a financial planner isn't just someone you come to
Speaker 1: and they're entirely hands off, like you should come to
Speaker 1: the table with your own, you know, your own knowledge
Speaker 1: of some aspects of you know, financial success yourself, so
Speaker 1: that you can ask good questions and you can also
Speaker 1: call them out on their bs when you need to.
Speaker 2: Exactly no, totally.
Speaker 1: All right, Well that it's the time of the show again.
Speaker 1: Should we boost or break?
Speaker 2: Yes? She told me that this was their fave, the
Speaker 2: boosty bricky.
Speaker 1: M hm, I mean, should we put it on a
Speaker 1: T shirt. What do you think it can say boost
Speaker 1: on the front and break on the back.
Speaker 2: Yes, I mean we are working.
Speaker 1: I mean we are working on some merch and we
Speaker 1: need we really needed y'all ideas. You should let us
Speaker 1: know if you have any ideas for our swag.
Speaker 2: Yeah. And also are there like, oh, we need we
Speaker 2: definitely need to put hey, hey, hey, like on a bug
Speaker 2: or something.
Speaker 1: Okay, so like what would be your favorite We're not
Speaker 1: gonna get sued, are we?
Speaker 2: No? I mean it's not. It's no, it's not. It's
Speaker 2: not because it's not. I mean, who can't say hey,
Speaker 2: So maybe we should definitely have We're back where black,
Speaker 2: we're brown ambition.
Speaker 1: I love them.
Speaker 2: But if you guys have with there's like some phrases
Speaker 2: that you know, me and manager use all the time.
Speaker 2: Then there's like whenmber that oh.
Speaker 1: Like hashtag team tiffany hashtag team mandra.
Speaker 2: Right or like or no, get you a friend? What
Speaker 2: was that one that was like get you a friend?
Speaker 1: Like man you friend? Yeah, yes, that would be would
Speaker 1: you guys wear that on a T shirt? Okay? Also
Speaker 1: shout out, but shade out to the person who told
Speaker 1: me they'd never met a black Mandy before. Nice to
Speaker 1: meet you. Let me be the first and best slave
Speaker 1: Mandy you've ever met in your life.
Speaker 2: Well, Tiffany's not a super black namy. Fair enough, then
Speaker 2: again I picked it. But anyway, so yeah, if you
Speaker 2: kind of like message us some like you know, brand
Speaker 2: ambition phrases that we use that you would love to
Speaker 2: see on some march, we would love that love it
Speaker 2: to have it. And maybe, oh maybe if we choose
Speaker 2: like you know, maybe we'll do some sort of contents
Speaker 2: or something like that. Like if we if there's like
Speaker 2: a phrase that we really love, I mean, aside from
Speaker 2: the obvious, which we've just said, but a phrase we
Speaker 2: really love, maybe we'll send you some free merch when
Speaker 2: it comes out.
Speaker 1: Yeah. Brandonbisson podcast at gmail dot com. I love a contest.
Speaker 1: All right, you're gonna booster break girlfriend.
Speaker 2: I'm going to bustie. I want to boost d a
Speaker 2: Sandy Smith and Elevate conference. I love Sandy, So Sandy,
Speaker 2: we haven't had her on our podcast, but we keep
Speaker 2: talking about her. So Sandy's just awesome. I mean, she's
Speaker 2: one of the OG's in the brown personal finance space.
Speaker 2: But Sandy started this conference. So you guys kind of
Speaker 2: know the debacle for those of you who have been
Speaker 2: listening for a while with the financial conference that we
Speaker 2: shall not name, but it was not exactly super friendly
Speaker 2: to other so brown LGBTQ, like just you know, it
Speaker 2: just wasn't at least maybe on the on the surface
Speaker 2: it looked to be, but when you dove deeper, not
Speaker 2: so much. So there was a lot of shake up
Speaker 2: with that other conference this year as a result. And
Speaker 2: Sandy last year, I think it was the last year.
Speaker 2: Year before last, she had her first conference called the
Speaker 2: Elevate Conference, which is inclusive, but like deeply inclusive of
Speaker 2: other but it's especially for black and brown folks. And
Speaker 2: so I did a keynote at Elevate last year. We
Speaker 2: actually have an e Facebook group. Whenever I'm looking for
Speaker 2: resources and things for my dream catchers, I go. I
Speaker 2: literally call them the Browns, even though everyone in there
Speaker 2: is not like traditionally browns, because we've got like Asian
Speaker 2: folks in there, and you know, basically it's just a
Speaker 2: safe haven for anyone who is other in personal finance
Speaker 2: and just an amazing resource, just an awesome community. And
Speaker 2: so Sandy had her first in person conference last year.
Speaker 2: She was supposed to have them this year, and I
Speaker 2: remember in the beginning of the year because of COVID,
Speaker 2: she was freaked out because she had already planned the
Speaker 2: conference and now it was supposed to be I think
Speaker 2: in March, and it couldn't happen. It was all this
Speaker 2: money on the line, and it just seemed like it
Speaker 2: wasn't looking good. She wasn't able to get all her
Speaker 2: deposits and things back. But Sandy pivoted. I mean she
Speaker 2: put the p and pivot and took her conference online.
Speaker 2: And after the other conference kind of like imploded, at
Speaker 2: least temporarily, so I'm sure they'll be back imploded. People
Speaker 2: started to look for where are safe spaces for others
Speaker 2: to congregate, and so all of a sudden she got
Speaker 2: sponsorship she wasn't getting before. All the support, I mean,
Speaker 2: us Brown's we've been new, We've been new, Sandy. But
Speaker 2: I just want to congratulate her because the Elevant conference
Speaker 2: just went, was just last week, and it was amazing.
Speaker 2: When I tell you, she did such a good job.
Speaker 2: I helped to do the opening chat, the opening talk
Speaker 2: for the conference of why a conference like this was
Speaker 2: so important, and I just basically said that, you know
Speaker 2: what I said earlier, then there has to be other
Speaker 2: voices because there are different types of people who need
Speaker 2: to see themselves in the resources being presented and everything
Speaker 2: is not black or white, that most of us live
Speaker 2: somewhere in the gray. And just so I'm just so
Speaker 2: proud of Sandy because it's been when I tell you,
Speaker 2: she did so much of it by herself. I was like,
Speaker 2: Sandy who edited these videos? She's like I did. I'm
Speaker 2: like Sandy who did it?
Speaker 1: I did?
Speaker 2: But Sandy who did it? I did? I'm like what
Speaker 2: she is? She is a jack of all trades and
Speaker 2: a master of all. You know, it's usually like a
Speaker 2: master of none. So yeah, that was just my boost.
Speaker 2: I just want to say, Sandy Smith, I am so
Speaker 2: proud of your girl. I cannot wait for the Elevate
Speaker 2: conference next year, which is tentatively scheduled to be in Tulsa, Oklahoma.
Speaker 2: And if you know about Tulsa and Black Wall Street Tulsa,
Speaker 2: I know, so black Wall Street do your googles. That's
Speaker 2: hugely historic to be able to do it there, and
Speaker 2: so yeah, that was it. I just wanted to just
Speaker 2: give her a huge, huge virtual hug and then shout out.
Speaker 2: And she's just doing the amazing work of providing platforms
Speaker 2: for people like me and Mandy and other folks to
Speaker 2: be seen, heard and understood and shared.
Speaker 1: Love Sandy so much, And you know, earlier when you
Speaker 1: were talking about CC, it reminded me of Sandy because
Speaker 1: I feel like they had that same ethos. Yeah, it's
Speaker 1: all about uplifting and supporting women and being transparent and
Speaker 1: love you Sandy, And we will have her on the show,
Speaker 1: I feel like in the next couple of weeks. So
Speaker 1: stay tuned. We finally got her. All right, that's great,
Speaker 1: all right, my turn. So I wasn't sure what to
Speaker 1: do this week. I have so much to do, so
Speaker 1: much to say, but I would really like to make
Speaker 1: this week's break. Sorry to be a little negative, It's
Speaker 1: gonna be good. I am ready to take a break
Speaker 1: from for X trading. Okay, this has been one of
Speaker 1: the most popular questions we have gotten, and I feel
Speaker 1: like anyone in the personal finance education space has probably
Speaker 1: gotten from folks through their email or DMS or whatever.
Speaker 1: It's what is for X trading? Do you have any tips?
Speaker 1: Is it legitimate? And I just think we need to
Speaker 1: talk about it. You know. For X trading is not
Speaker 1: something that I personally participate in, nor does Tiffany. But
Speaker 1: I think since so many of you guys are curious
Speaker 1: about it, and you very well are probably seeing the
Speaker 1: same ads and the same you know YouTubers and the
Speaker 1: same folks on your social media or your uncle, you know,
Speaker 1: texting you like mine, has you know, talking about four
Speaker 1: X trading, and it's time for us to talk about it.
Speaker 2: Yes, I have seen them, yep, in the box, the
Speaker 2: four X bots I've been seen, yes, and the box.
Speaker 1: Okay, so let's break it down. Four X trading has
Speaker 1: I don't know, it's developed this air, this mystique about
Speaker 1: it where people think, well, they're kind of like afraid
Speaker 1: of it, almost like it's a scam or something like
Speaker 1: a get rich quick scam or like a multi level
Speaker 1: marketing company. You know, that's where you recruit someone to
Speaker 1: sell something and then you know they make money by
Speaker 1: recruiting someone or whatever. But here's the truth. For X
Speaker 1: trading is a very legitimate form of trading. It is
Speaker 1: in fact a huge, huge market. I mean, trillions of
Speaker 1: dollars pass daily through the four X trading market. So
Speaker 1: as you guys are probably familiar with. There is, for example,
Speaker 1: the New York Stock Exchange, and that is where you
Speaker 1: trade stocks, you trade shares in companies. So you might
Speaker 1: buy ten shares of Apple today, and your hope is
Speaker 1: that when you sell those ten shares of Apple that
Speaker 1: it was worth more when you sold it than it
Speaker 1: was when you bought it. Right. So, the four X
Speaker 1: market or foreign exchange trading, this is where you're trading
Speaker 1: something different. You're actually trading national currencies, so you're trading
Speaker 1: a US dollar for a British pound, or you're trading
Speaker 1: a British pound for a Japanese yen or whatnot, and
Speaker 1: it's it's very similar. You hope that when you buy
Speaker 1: the other currency, the foreign currency, that when you exchange
Speaker 1: it for a different currency, that that will actually be
Speaker 1: worth more than what you paid for initially. And that
Speaker 1: is how you make money in for X trading. That's
Speaker 1: a super duper simplified. Here's the thing for X trading.
Speaker 1: Sometimes there's just like this huge surgeon interest for it.
Speaker 1: Actually went to Google search trends and I was like,
Speaker 1: let me see have people been searching more for four
Speaker 1: X trading? Let me see what the trends have been, Like,
Speaker 1: guess when there was an uptick in search volume around
Speaker 1: four X trading around April twenty twenty. I wonder why
Speaker 1: it was right when the pandemic truly hit. Most states
Speaker 1: were shut down, if not shut down entirely, shut down partially,
Speaker 1: and millions of people, tens of millions of people were
Speaker 1: furloughed or lost their jobs. Okay, I decided to go
Speaker 1: back a little bit further, and I was like, when
Speaker 1: was the last big surge in interest in four X trading?
Speaker 1: What do y'all think?
Speaker 2: I was gonna say two, that's two, that's.
Speaker 1: Nice, exactly as you say. It was back in two
Speaker 1: thousand and eight, November two thousand and eight, when did
Speaker 1: Lehman crash? Like October September of that year. At any rate,
Speaker 1: interest in four X trading tends to surge, as we've
Speaker 1: seen from the past two economic crises. Two thousand and eight,
Speaker 1: and then you cut to now twenty twenty with what's
Speaker 1: happening with COVID. There's all this interest in for X
Speaker 1: trading because there are a lot of people out there
Speaker 1: who have packaged it into this sort of get rich quick.
Speaker 1: I don't want to call a scheme because, as I've said,
Speaker 1: it's a legitimate form of trading, but it's created that
Speaker 1: people have taken advantage of the interest in this type
Speaker 1: of trading and the fact that you can, you know,
Speaker 1: you can trade twenty four hours a day depending on
Speaker 1: which market you use, because they're all over the world, right,
Speaker 1: you could be trading on London hours or you know
Speaker 1: Japan our Tokyo hours or you know Sydney hours whatever.
Speaker 1: So yes, there's a lot of opportunity to make money,
Speaker 1: but it's a very complex form of trading and you know,
Speaker 1: you really have to get educated and understand it. And
Speaker 1: this is where opportunistic people have taken advantage of the
Speaker 1: mystique about for X trading because they sell courses and
Speaker 1: how to do it, and they sell this information and honestly, yes,
Speaker 1: maybe the information's useful, maybe they do an okay job
Speaker 1: of explaining what for X trading is and how it works.
Speaker 1: But if you think that you can immediately become an
Speaker 1: expert in this form of very risky investing, and it's
Speaker 1: risky because you know, it's as risky as you want
Speaker 1: it to be. It's depending on how much money you're
Speaker 1: willing to put into it. But if you just lost
Speaker 1: your job, or you're financially insecure, you've got debt or whatnot,
Speaker 1: this probably is not the best place for you to
Speaker 1: you know, get your financial you know, get your financial
Speaker 1: safety net put back together. This is my personal opinion.
Speaker 1: I'm sure there very well are people who are you know,
Speaker 1: making tons of money in the for X trading you
Speaker 1: know market and all that, and that's very great for them,
Speaker 1: But I mean you should look at it with like
Speaker 1: several hundred grains of salt and definitely think twice before
Speaker 1: you pay someone money to teach you about four X
Speaker 1: trading and ask yourself, you know, what are you expecting
Speaker 1: to get out of it? Because you know, I could
Speaker 1: offer a course myself in stock trading today, but you're
Speaker 1: your own person, and there's so much more than just
Speaker 1: understanding how it works that goes into it. You also
Speaker 1: need the time, like do you have the time to
Speaker 1: sit at your terminal at your computer all day? You know,
Speaker 1: look at the price graphs and you know, really understand
Speaker 1: what they mean and when the opportunities are to strike
Speaker 1: and all that. I mean, it takes a lot of
Speaker 1: untal bandwidth and I and it makes me sad because
Speaker 1: I think a lot of people who are being drawn
Speaker 1: toward this form of investing, you know, are more vulnerable,
Speaker 1: like you have more to lose. So that's I just
Speaker 1: wanted to, you know, look at the elephant in the room,
Speaker 1: because everyone's talking about it. So let's just recap. Yeah,
Speaker 1: for X trading is legit, it's not probably the best
Speaker 1: way to invest, especially dollars that you are very afraid
Speaker 1: to lose because they're all you have left if you've
Speaker 1: fully been struggling, you know, in this current COVID crisis.
Speaker 1: So just think about it, and if you guys have
Speaker 1: more specific questions, you know, let me know. There's some really,
Speaker 1: you know, there is some good helpful information out there.
Speaker 1: If you want to learn more about four X trading, well,
Speaker 1: we'll share some links to investipedia, Investipedia's explainer, you know,
Speaker 1: in our show notes. They're a trusted source, and just
Speaker 1: you can start to educate yourself, but always do your
Speaker 1: own due diligence and really try to avoid any kind
Speaker 1: of investing strategy or investing you know, hot new trend
Speaker 1: because that usually it usually doesn't bode very well.
Speaker 2: No, I agree, because people ask me all the time
Speaker 2: about forks, and I'm like, well, at its core it's
Speaker 2: not a scam, but many things surrounding, like how to
Speaker 2: learn how to forks trade Unfortunately, there are so many
Speaker 2: scams surrounding. It's just like with anything, and so yeah,
Speaker 2: just being mindful and doing your homework and doing your
Speaker 2: due diligence and that quite honestly, I know it sounds
Speaker 2: like so cliche, but if something seems to be too
Speaker 2: good to be true, especially when it comes to your money,
Speaker 2: it is like not when it comes to cake necessarily,
Speaker 2: or cookies or like you know, your favorite dish, like ooh,
Speaker 2: this looks too good to be true, no eat it.
Speaker 2: But when it comes to money, if it seems too
Speaker 2: good to be true, ninety nine point nine nine nine
Speaker 2: nine nine nine nine percent of the time, it's always
Speaker 2: because if it was that easy, wouldn't we all be rich?
Speaker 2: Like ask yourself that, how is it that this person
Speaker 2: that you're meeting has cracked the code on how to
Speaker 2: become rich in two weeks? And no one knows? I mean, yeah,
Speaker 2: they haven't. They've just cracked the code and taking money.
Speaker 2: So who this has been an episode, Joe, Thanks as usual, Mandra.
Speaker 1: Megasode, Yeah, a megasode megasoe. All right, well we hope
Speaker 1: that y'all you know, have enjoyed this ride with us.
Speaker 1: Thanks for rocking with us. Don't forget to leave us
Speaker 1: a review please for iTunes. And did we even mention
Speaker 1: your reviews? You know? Getting us past one thousand reviews
Speaker 1: was one of the reasons we were selected as the
Speaker 1: top personal finance podcast by Business Insider, which is a
Speaker 1: very surreal moment for me because I used to work
Speaker 1: at Business Insider. In fact, yes, that's where I got
Speaker 1: my start as a personal finance editor and reporter. I
Speaker 1: launched there. I was one of the first I call
Speaker 1: myself a founding editor of their personal finance section. So
Speaker 1: it's crazy only ten years later.
Speaker 2: When you call me, it still says Mandy Business Insider.
Speaker 2: That's what it says.
Speaker 1: Fast. That's when we met. Yes, Tiffany was just the
Speaker 1: baby budget Nesta with an article on her blog about
Speaker 1: a bike that her daddy boxer. Yes, and I was
Speaker 1: looking for a story to write and then here we are, Yes,
Speaker 1: all these years later, Well it's because of you, guys,
Speaker 1: So please, if you haven't left us or comment or sorry,
Speaker 1: left us a review on iTunes, please do so five
Speaker 1: stars would be excellent, and then tell a friend about
Speaker 1: the show. Thank y'all for helping to elevate the show.
Speaker 1: I feel like we have such a bigger audience even
Speaker 1: now than we did pre COVID. And that's, you know,
Speaker 1: just a testament to to really you guys for spreading
Speaker 1: the words. So thank you, yes, thank you, thank you
Speaker 1: so much. And maybe next week I will finally talk
Speaker 1: about my mortgage refinance which just finished finally and how
Speaker 1: I have banned meetings from my life.
Speaker 2: Yeah, let's definitely talk about mortgage. You find it because
Speaker 2: you know they're the Freddie mc and Sally May are
Speaker 2: trying to add a half percentage of Sally May, not
Speaker 2: Sally May, Freddy mac one yes, Fanny May, I said,
Speaker 2: Sally May. Oh my god, it's been a lot, you
Speaker 2: know what.
Speaker 1: Bye, listen all those names. Who comes up with these names? Anyway?
Speaker 1: I mean, come on telling.
Speaker 2: Somebody somebody's southern uncle. Freddie mack and Sally May and
Speaker 2: Fanny Man like, who are these people?
Speaker 1: But yeah, all right, all right, we'll have a good
Speaker 1: restaurant you too. By bye bye,