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Speaker 1: Hey, hey, hey, we're back. We're black.

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Speaker 2: I'm Tiffany, I'm Mandy and Brown Ambitionous Brown Ambition.

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Speaker 1: I feel like, you know, it's so crazy now that

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Speaker 1: we introduce ourselves because it's been two years and we haven't. Hey, guys, hey, right,

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Speaker 1: if you're listening, you know who we are. So today's

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Speaker 1: actually going to be a different kind of show, right, Mandy.

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Speaker 2: Yes, I noticed you guys have been sending in so

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Speaker 2: many questions lately, and they're such good questions that I

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Speaker 2: thought today we would do just a question show, so

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Speaker 2: you guys get answers to your questions. And once we

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Speaker 2: do this, we're going to need some more questions. So

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Speaker 2: this is officially your own watch. Send us your questions career, business,

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Speaker 2: financial related. You can hit us up at Briannambition Podcast

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Speaker 2: dot com dot com. You did it today, got it?

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Speaker 2: Or go right to the straight to us by emailing

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Speaker 2: us at Brownambition Podcast at gmail dot com.

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Speaker 1: Yes, so I was hoping today that I was going

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Speaker 1: to have great news. I still have good news, but

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Speaker 1: I was supposed to close yesterday on the house, but

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Speaker 1: we're supposed to close tomorrow, so definitely continue to send

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Speaker 1: me your ba prayers and good wishes and good vibes,

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Speaker 1: and I mean it's happening. It's just a matter of

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Speaker 1: is it today, is it tomorrow? Is it? So I

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Speaker 1: got all the paperwork and I was supposed to head

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Speaker 1: into the title office to sign tomorrow and make the

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Speaker 1: wire transfer. Although I'm nervous about the wire transfer part.

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Speaker 1: There's a woman I don't know if you remember, is

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Speaker 1: Shannon I think her name is Shannon la Ala. She's

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Speaker 1: in in in con Mandy. So she made a wire

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Speaker 1: transfer to buy her house and somehow somebody.

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Speaker 2: Got it like interception it.

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Speaker 1: Yes, it's a big fraud. It's a big there's some

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Speaker 1: like I guess, some scam that's going around with you

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Speaker 1: know what.

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Speaker 2: I saw her post about this in FINNCN last year.

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Speaker 2: I know what you're talking about. Yeah.

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Speaker 1: Yes, And so I actually called like my the title

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Speaker 1: company that we're working with, and I said, I'm nervous

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Speaker 1: about making the wire transfer because I've heard of it.

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Speaker 1: He said, no, it is very prevalent. And he was like,

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Speaker 1: these are the ways that you avoided. He's like, one,

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Speaker 1: you know, we don't do any numbers via email because

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Speaker 1: anybody can insuscept your email and read and be like, Okay,

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Speaker 1: I'm going to email you a different wire transfer number,

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Speaker 1: and you're you're going to send it to me, you know,

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Speaker 1: so he'll he'll be giving me the wire number on

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Speaker 1: the phone, and he said, you're going to go directly

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Speaker 1: to the bank and read it off to them, you know.

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Speaker 2: Init a second. Ay, just so just to back up,

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Speaker 2: so you are doing a wire transfer to the title company.

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Speaker 1: Yes, So this we're a little bit unique in that,

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Speaker 1: you know, because we're paying for our house cash, so

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Speaker 1: we're not One, we don't have a lawyer. And two

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Speaker 1: because the title company just did a title search and

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Speaker 1: it wasn't necessary to get a lawyer because there's no

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Speaker 1: contract in place because we're not buying from a person,

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Speaker 1: and so it's and it's as is the home. We

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Speaker 1: got it inspected, but you know, the home is as is.

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Speaker 1: So we saved money by not getting a lawyer. The

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Speaker 1: title company basically kind of like subbed in as a lawyer,

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Speaker 1: you know, did a title search to make sure there's

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Speaker 1: no leans on the house, that the house does not

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Speaker 1: owe anyone, which it doesn't. And so we transferred our

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Speaker 1: down payment to the title company and they held it

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Speaker 1: like in a you know, in an account, just to

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Speaker 1: show the bank that actually owns the house now because

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Speaker 1: it's a foreclosure, that yes, these people are serious. The money,

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Speaker 1: you know, I think it was like nine thousand dollars

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Speaker 1: is sitting here. And so now what we'll do is

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Speaker 1: the title company for us is the middleman. The bank

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Speaker 1: has given the title company the deed and they'll sign

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Speaker 1: it over to us once we then send the title

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Speaker 1: company the money the the one to eighty minus the

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Speaker 1: nine thousand, and then they'll send the money to the

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Speaker 1: bank and we'll be so they're like our middle person.

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Speaker 1: This is my first foreclosure, so I don't know, like

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Speaker 1: what's normal, what's not. This is not what I did

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Speaker 1: obviously when I when I bought my condo, But this

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Speaker 1: is I don't know, this is typical foreclosure, like kind

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Speaker 1: of like you know, if you're buying a foreclosure, if

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Speaker 1: this is what it kind of looks like. But that's

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Speaker 1: what how it's working out for us is that we

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Speaker 1: pay the middleman. The middleman collects everyone's things and then

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Speaker 1: disperses them.

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Speaker 2: Okay, yeah, that is a little unique because we my

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Speaker 2: issue with the wire transfer, so we had to put

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Speaker 2: down a good faith deposit, which is basically a portion

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Speaker 2: of our whole deposit. We had to do this way

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Speaker 2: back when when we signed the contract last month and

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Speaker 2: it was like ten percent, we're putting down fifteen It

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Speaker 2: was ten percent, and we went to Chase. We had

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Speaker 2: to do a like a verified check or what do

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Speaker 2: you call those things? Certified check, certified check, Yeah, from

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Speaker 2: the bank. Although it was a huge pain in the ass.

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Speaker 2: And here's my lesson. So I wasn't expect again our realtor,

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Speaker 2: isn't you know. We accidentally got a realtor. It's a

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Speaker 2: long story. Anyway, he's got all up on it and

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Speaker 2: communicating what we needed. So anyway, we didn't know we

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Speaker 2: would need that ten percent. We found out the day before.

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Speaker 2: So my money is tied up an Ally, which is

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Speaker 2: an online only bank, which is fantastic because has a

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Speaker 2: higher apy which means I earn more money on my money.

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Speaker 2: Blah blah blah. But what happens is Ally, because it's online,

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Speaker 2: I can't just go to a big branch and get

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Speaker 2: a certified check, right, So I had to transfer it

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Speaker 2: to my Chase account and then which took thankfully, it

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Speaker 2: only took twenty four hours. I was worried it was

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Speaker 2: going to take three business days or whatever, but it

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Speaker 2: took twenty four hours. But we had to which basically

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Speaker 2: cost us a day, and then I had to go

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Speaker 2: into the Chase bank after that. So moving the money

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Speaker 2: around was unexpected for me. Like it's really frustrating when

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Speaker 2: you're like, I have the monies, but you know you

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Speaker 2: can't get at it that fast exactly.

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Speaker 1: And that's what actually told Funny your money was an

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Speaker 1: ally because that's where ours was too. So I was

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Speaker 1: nervous about, especially transferring such a large amount. So like

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Speaker 1: I did it over a couple of days because I

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Speaker 1: was like am I Am I able to transfer like

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Speaker 1: one eighty and one wop? You know. So yeah, it's

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Speaker 1: been very interesting. And I hate because I transfer the

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Speaker 1: money maybe like a few weeks ago because I thought

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Speaker 1: we were going to close, and I'm like, I'm missing

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Speaker 1: out on earning my interests. But I was afraid to

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Speaker 1: transfer it back because I didn't know when we were

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Speaker 1: going to close. But so we're rounding the bend, and

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Speaker 1: you know, now my my new kind of like piece

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Speaker 1: of anxiety is like, well, who do we get to

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Speaker 1: do the work? You know, because I want to get

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Speaker 1: the kitchen in the bathroom done. And so I'm nervous

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Speaker 1: about contractors because you just hear so many, so many,

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Speaker 1: you know, bad things.

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Speaker 2: Oh I'm right, I'm right in that same boat with you,

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Speaker 2: and I'm it's a little bit easier for you, guys

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Speaker 2: because no one's in there. I'm dying to start the

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Speaker 2: process because I've been you know, I like to be

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Speaker 2: ahead of the game, and to my husband is so

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Speaker 2: frustrated by it because I'm like ten steps ahead all

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Speaker 2: the time. I'm like, so, let's let's get the contractor

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Speaker 2: in place before we even close so that we can

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Speaker 2: get an estimate, like get this ball, because what I

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Speaker 2: The couple of contractors that I've called have both said

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Speaker 2: that things start booking a really fast in the spring

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Speaker 2: and that it's really hard to get people. And not

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Speaker 2: only that, but it's not like the work is what

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Speaker 2: takes long sometimes just getting to the work, Like the

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Speaker 2: permitting process. Yes, like architects. You know, if we want

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Speaker 2: to do a significant remodel, we have to first get

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Speaker 2: an architect. I learned, have the architects come in and

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Speaker 2: measure stuff, create a plan, and then call get the

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Speaker 2: permits for the plan. Yes, and then you bring in

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Speaker 2: the contractor who executes the plan, and I'm just like, oh,

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Speaker 2: I know, I'm.

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Speaker 1: Not gonna lie. I was like, oh, I'm not like

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Speaker 1: looking for That's the part that because like, depending what

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Speaker 1: kind of city you live in, like Newerk is not

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Speaker 1: exactly known for moving quickly. So I have been asking

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Speaker 1: around to my friends and have done some remodeling. You

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Speaker 1: know that I really want a contractor that it's familiar

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Speaker 1: with the city and the politics of the city, because

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Speaker 1: you need someone, depending what kind of city, that can

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Speaker 1: go down there and be like, hey, Mary, you can

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Speaker 1: pull up the plan for me real quick. You know

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Speaker 1: what I mean, Like I didn't. I don't want somebody

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Speaker 1: who's kind of like I've never done stuff in Nework.

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Speaker 1: But I mean, a house is a house. No permits

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Speaker 1: are different, and it's about people knowing people in relationships.

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Speaker 1: So that's something I've been focusing on. They're like, Okay,

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Speaker 1: if I'm getting a contractor, I definitely want somebody who

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Speaker 1: has previously existing relationships in the city.

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Speaker 2: Yeah. I talked to one guy who was like, oh,

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Speaker 2: I don't have a license in your county, but I

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Speaker 2: you know, I can get one. Let me know, like, thanks,

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Speaker 2: but no learning so much. They don't teach you their

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Speaker 2: shit in college at all.

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Speaker 1: Right, I'm like, I feel like we are learning so much.

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Speaker 1: I'm going to like go like real estate school. I

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Speaker 1: feel like, okay, okay.

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Speaker 2: It's so stressful because you know, we can't fuck this up, Tiffany.

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Speaker 2: This is what we do. The people are counting on

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Speaker 2: us to get this right. If we can't do it,

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Speaker 2: then what are we doing?

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Speaker 1: Oh? But I'm excited about today's show because today we

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Speaker 1: are going to be doing like a Q and a show, correct.

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Speaker 2: Q and a correct I have I have called the

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Speaker 2: best questions from the back that we've gotten in the

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Speaker 2: past couple of weeks, really good questions, a good mix.

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Speaker 2: But real quick, I wanted to let you guys know

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Speaker 2: on last week's show, you guys really enjoyed the life

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Speaker 2: insurance discussion, and we were talking more about it and

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Speaker 2: decided that we're going to do a whole show just

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Speaker 2: about the documents and the things everybody should think about

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Speaker 2: before they die. Yeah, because if we all have one

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Speaker 2: thing in common, it's that we own die.

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Speaker 1: Yeah. Yes, like nobody makes it out alive.

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Speaker 2: Right, So doesn't that sound uplifting? Tune in. No, but

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Speaker 2: for real, Tiffany actually has an amazing estate attorney who

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Speaker 2: is going to come on the show. Her name is

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Speaker 2: Art Steele.

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Speaker 1: Yes, hey are Art's like, I'm coming. So I actually

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Speaker 1: spoke with Art today. Art has her own her own

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Speaker 1: podcast called Legal Ease, where she kind of breaks down

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Speaker 1: all this like just legal mumbo jumble that we don't

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Speaker 1: get and makes it super easy. And she was fangirling

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Speaker 1: on Mandy. Sorry Art, it was like, oh my god,

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Speaker 1: I would love to come on. So Art, this is

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Speaker 1: your official announcement. You're coming.

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Speaker 2: Your name is amazing, You're going to be on the show.

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Speaker 2: And this is truly her passion. I can tell just

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Speaker 2: from checking her out that she wants to make a

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Speaker 2: state planning. I mean, a state planning isn't just about you,

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Speaker 2: it's also the people you're leaving behind, Like how do

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Speaker 2: you make sure that you were transferring your wealth in

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Speaker 2: a way that's going to benefit them, just you know,

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Speaker 2: making sure that happens in a way that people, you know,

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Speaker 2: future generations can benefit from the hard work that you're

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Speaker 2: doing today. So I'm really excited about it. Maybe I'll

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Speaker 2: finally make a will.

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Speaker 1: Yeah, I'm make fit Honestly, she's dope. You guys are

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Speaker 1: going to love her, and she's definitely all broad Ambisi

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Speaker 1: and yeah, I can't wait. I'm hoping we can get

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Speaker 1: her on as soon as possible, hopefully next week. Aren't

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Speaker 1: like save it put a pin in it so we

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Speaker 1: can have you on.

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Speaker 2: We'll see. But so just to heads up you guys,

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Speaker 2: if you have questions about estate planning, or you're not

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Speaker 2: sure what to do financially before you pass away, or

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Speaker 2: how do you protect your assets or make sure that

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Speaker 2: your heirs get your assets ask send your questions now

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Speaker 2: and we'll make sure to answer some of the best

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Speaker 2: questions on that show with Art and again. The email

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Speaker 2: is Brand Ambission Podcast gmail dot com. If you don't know.

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Speaker 2: If you don't know, then you haven't been listening, or

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Speaker 2: you can hit us at Brown Ambition podcast dot com.

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Speaker 1: Yeah and click ask us anything.

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Speaker 2: Yes, ma'am, All right, let's get into these questions.

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Speaker 1: Yes. First up is.

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Speaker 2: Would you like to pick? I'm gonna pick.

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Speaker 1: And then I was waiting for you. I'm I'm not

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Speaker 1: even looking at it. I was. I was giving you

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Speaker 1: the intro.

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Speaker 2: That was a weird segue. I wasn't sure what to do.

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Speaker 2: I panicked. Okay, I wanted to take a question. I

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Speaker 2: really like this question because I feel like it was

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Speaker 2: really brave of her to ask. Although she wants to

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Speaker 2: remain anonymous, I think that this is something that a

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Speaker 2: lot of people are dealing with once you build your

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Speaker 2: career and establish yourself professionally. So this one's from someone

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Speaker 2: named who wants to remain anonymous. She says, I am

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Speaker 2: married with two daughters, in a great career. However, I'm

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Speaker 2: lacking in the friendship category. Over the years, as I

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Speaker 2: have moved up in my career and made familial changes

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Speaker 2: i e. Getting married and having kids, I have lost

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Speaker 2: one friend after the other. There isn't any bad blood,

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Speaker 2: it's just that we have less in common or relationships

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Speaker 2: feel one sided. I can give career advice, but I

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Speaker 2: can't get much support for myself. I would love some

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Speaker 2: advice about connecting with women like me or people who

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Speaker 2: can pull me up to their level. Help with like

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Speaker 2: four ease. This one really got to my feely spots,

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Speaker 2: all of them my feels, don't you think so? I mean?

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Speaker 2: This is it just reminds me of kind of what

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Speaker 2: I'm This is my this is my sort of fear

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Speaker 2: about entering the next phase not just of your career,

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Speaker 2: but like family status. I can't help but notice, or

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Speaker 2: I've just been really aware that a lot of my

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Speaker 2: friends having kids. We try, we work really hard at

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Speaker 2: keeping those connections alive. But one of the things that

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Speaker 2: that's happened recently is the moms in our group. You know,

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Speaker 2: we have a group of friends we've been together for

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Speaker 2: we've been friends since, you know, they're actually my husband's

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Speaker 2: friends from college. I love them dearly. But as they

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Speaker 2: started having kids, we used to have a group chat

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Speaker 2: like a group text chain. Okay, recently, no one's been

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Speaker 2: responding to no one's been texting in that chain. And

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Speaker 2: I found out that there's a separate mom's which is

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Speaker 2: completely fine, you.

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Speaker 1: Know, yes, but I understand.

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Speaker 2: I get I get it. They don't think that we

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Speaker 2: want to hear about their you know, explosive diarrhea diaper situation,

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Speaker 2: you know, and they need each other to support And

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Speaker 2: I completely get that. And it's not like we still

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Speaker 2: don't communicate, but you do. Yeah, It's like, man, I

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Speaker 2: really don't know how to see them on that level

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Speaker 2: where they're at. Yeah, and you know, I know them

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Speaker 2: a little bit differently.

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Speaker 1: Now, yeah, I mean I would say, well, one if

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Speaker 1: like I haven't used this app, but of her good

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Speaker 1: things Bumble, doesn't Bumble have a best friend component? Now

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Speaker 1: you said that, Yes, you know, so Bumble is this

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Speaker 1: dope at built by Whitney Wolf. Is that that's her

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Speaker 1: last name? Right? I have no idea, I think so

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Speaker 1: and so. So she built this app because she felt

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Speaker 1: like Tinder and all these other apps were so men focused,

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Speaker 1: where men are just trying to hook up, and she

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Speaker 1: was like, I want to put the power in women's hands.

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Speaker 1: So I'm going to build an app where the women

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Speaker 1: make the first move, the women are in charge of

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Speaker 1: like the you know of like how dating goes, and

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Speaker 1: it's done really well. And then she realized that women

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Speaker 1: want more than just looking for a partner, a romantic partner.

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Speaker 1: Sometimes you're like looking for like a bff a girlfriend,

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Speaker 1: and so she created that component in Bumble. So I

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Speaker 1: definitely would start there. And I've seen a lot of

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Speaker 1: great feedback that folks have really found some really fun, dope,

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Speaker 1: amazing women to hang out with friends via Bumble.

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Speaker 2: So have I one of my good girlfriends. Actually, she

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Speaker 2: just moved to Baltimore from New York City. She went

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Speaker 2: there to move She moved there because her boyfriend they

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Speaker 2: moved in together, and she moved there and his career

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Speaker 2: was there, and that's what she did. She joined Bumble

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Speaker 2: and she told me she's had a lot of good

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Speaker 2: girlfriend dates. And I think that's so perfect for women too,

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Speaker 2: because I don't know, I just think women. I think

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Speaker 2: it's harder for men. I don't want to stereotype, but

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Speaker 2: I do feel like as women, we just we're so

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Speaker 2: animals and we want to, you know, communicate and talk

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Speaker 2: and it's just a little bit more natural. I bet

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Speaker 2: it's even nicer than like online dating. Honestly.

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Speaker 1: Yeah.

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Speaker 2: Yeah, you're just just like meeting people and it's and

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Speaker 2: it's hard. You know. One of the oldest ways to

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Speaker 2: meet people is like, well, go to networking events or

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Speaker 2: something like that. But those are so like it.

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Speaker 1: Can be so exactly because you feel like, hey, here's

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Speaker 1: my card. But I would also challenge you to ask

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Speaker 1: yourself what things do you enjoy and join some Facebook

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Speaker 1: groups that focus so if you're like super internatural hair

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Speaker 1: or super into knitting, or like I was part of

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Speaker 1: this travel group and of course they met up and

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Speaker 1: even the dream Catchers. So you know, I have a company,

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Speaker 1: the Budgetissa, and we've got a community called dream Catchers.

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Speaker 1: They wanted to connect so badly they started chapters and

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Speaker 1: so now there's sixty five chapters nationwide and they meet

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Speaker 1: monthly many of the chapters, or at least quarterly, and

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Speaker 1: so many women have formed like serious relationships and friendships

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Speaker 1: from meeting. You know, it's it's and they don't just

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Speaker 1: meet to talk about money, you know, that was the

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Speaker 1: initial intent, but now they like go bowling together, have wine,

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Speaker 1: painting parties. They just went to the to the shooting

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Speaker 1: range one of them, the New York chapter, the other

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Speaker 1: day I saw. And so if you're if you are

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Speaker 1: a DreamCatcher and you're interested in like connecting in that way,

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Speaker 1: I think the website is a dream Catcher Chapters with

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Speaker 1: an s dot com. But yeah, you can find a

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Speaker 1: local chapter. It's totally free. It's just they meet up

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Speaker 1: and hang out. But I would look, that's not the

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Speaker 1: only like I said, the travel group that I belong to,

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Speaker 1: they hang out. So you can definitely find online groups

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Speaker 1: that have splintered into local sections that kind of like

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Speaker 1: meet up and hang out.

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Speaker 2: I thought it was interesting. She said, I'd love to

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Speaker 2: I'd love some advice about connecting with women like me

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Speaker 2: or that can pull me to their level. So you're

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Speaker 2: looking for it seems like she wants friends who are

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Speaker 2: kind of at her level or can can you know?

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Speaker 2: I think you want friends who can improve your life

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Speaker 2: in some way. Not because it's like I need something

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Speaker 2: from you, but you bring something to my life, and

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Speaker 2: I can also hopefully bring something to yours. And I mean,

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Speaker 2: I don't want to be like a broken record, but

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Speaker 2: that professional seminar that I did in December, I mean

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Speaker 2: that for me was like speed dating twenty five fantastic people.

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Speaker 2: And I made really good friends because they were my peers,

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Speaker 2: but they were all at different levels in their career.

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Speaker 2: We have a you know, we're all in the journalism industry,

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Speaker 2: but we work all over the place. And one of

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Speaker 2: the reasons that has such an impact on me is

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Speaker 2: I realized how alone I had been as a journalist,

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Speaker 2: as an editor, moving up in my career and now

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Speaker 2: working for a smaller sort of company where I don't

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Speaker 2: really have someone who gets me, who I can sort

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Speaker 2: of turn to and who knows what I'm going through

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Speaker 2: and the people that I met at that were or

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Speaker 2: you know, I'll probably have lifelong friends. And if you're

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Speaker 2: in a specific career where maybe there's a some sort

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Speaker 2: of like I don't want to say a conference because

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Speaker 2: that I feel is really intimidating and it's difficult to

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Speaker 2: make connections there maybe a smaller event though, like a

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Speaker 2: training or you know, some sort of meetup or a

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Speaker 2: smaller professional organization in your in your region or your area,

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Speaker 2: that'd be a good place to I mean, you're already

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Speaker 2: like breaking the ice because you are there for a

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Speaker 2: specific reason.

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Speaker 1: And that's how me and Mandy met. Well, you interviewed me,

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Speaker 1: but ultimately we met at a conference over something that

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Speaker 1: we both had in common, which is financial education. And

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Speaker 1: like it wasn't like and when we I think we

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Speaker 1: were like tweeting like are you here? I'm here, are

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Speaker 1: you here? And then we had like we just hung

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Speaker 1: out in New Orleans. We didn't go to the classes,

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Speaker 1: and we were like, let's take a long walk.

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Speaker 2: Each other.

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Speaker 1: Yes, I'm like, what if, like, if like Mandy was

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Speaker 1: a dude, we probably would have been dating because it

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Speaker 1: was so nic I'm like, this is so nice.

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Speaker 2: That is the nicest thing you've ever said you would date,

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Speaker 2: I would date you too.

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Speaker 1: But it was honestly and so and now we're friends

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Speaker 1: in real life. So like finding something that you're really

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Speaker 1: interested in and yet and finding a group that corresponds

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Speaker 1: with that, it's a great.

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Speaker 2: Place to start, all right. Next question comes from listener

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Speaker 2: A Shaki. Cool name A Shaki has a student loan question.

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Speaker 2: She wants to know how do I get my student

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Speaker 2: loans forgiven? I was laid off in two thousand and

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Speaker 2: six and I haven't been able to get a job

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Speaker 2: since then. One other thing, when your loans are forgiven?

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Speaker 2: What does that really mean? Please help me? Good question, Shaki.

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Speaker 2: Two thousand and six. I'm so sorry. That's a long

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Speaker 2: time ago, and she hasn't been able to get a

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Speaker 2: job since then. Okay, that's a long time to be

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Speaker 2: out of work. Yes, she doesn't mention. So there's a

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Speaker 2: quick thing. It would have been nice to know if

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Speaker 2: they were federal versus private, and like what the status is.

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Speaker 2: So we don't know some information, so we'll try and

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Speaker 2: answer to the best of our ability without knowing if

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Speaker 2: they're federal or private, or if they're in forbearance or deferment.

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Speaker 2: As far as forgiveness though, so if they're federal. That's

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Speaker 2: if they're federal, you do have options to get your

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Speaker 2: loans forgiven, not if they're private though, not if they're private,

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Speaker 2: unless you get really lucky, but honestly you probably won't.

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Speaker 2: So loans, there are several ways to get your loans forgiven. Actually,

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Speaker 2: I have the perfect guide for you. We literally just

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Speaker 2: did one on all the different ways to get your

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Speaker 2: loans forgiven. There's ways to get your loans forgiven depending

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Speaker 2: on your profession. If you're a nurse, teacher, et cetera.

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Speaker 2: There's ways to get your loans forgiven if you're in

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Speaker 2: if you enroll in a specific type of federal repayment plan.

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Speaker 2: They have these plans called income driven Repayment. I'm not

431
00:20:23,119 --> 00:20:24,920
Speaker 2: sure if you're enrolled in that, but if you are,

432
00:20:25,040 --> 00:20:26,639
Speaker 2: you know, it's been twelve years you said, since you

433
00:20:26,640 --> 00:20:27,200
Speaker 2: were laid off.

434
00:20:27,800 --> 00:20:30,960
Speaker 1: Oh, I wish you would have done it earlier, because we're.

435
00:20:30,840 --> 00:20:33,040
Speaker 2: Not sure she has or hasn't. I mean I'm hoping

436
00:20:33,080 --> 00:20:37,520
Speaker 2: she has with I think there's four different income driven

437
00:20:37,560 --> 00:20:40,639
Speaker 2: repayment plans. They basically reduce your payment to a very

438
00:20:40,680 --> 00:20:44,880
Speaker 2: small proportion of your income. If disposable income, and then

439
00:20:45,000 --> 00:20:48,600
Speaker 2: after fifteen to twenty years, I think that's the it's

440
00:20:48,600 --> 00:20:50,560
Speaker 2: either fifteen or twenty years for each one of them.

441
00:20:51,600 --> 00:20:55,639
Speaker 2: The remaining debt can be forgiven, yes, right.

442
00:20:56,680 --> 00:20:58,760
Speaker 1: And what's TI great is that like the mistake, for example,

443
00:20:58,800 --> 00:21:02,359
Speaker 1: the mistake I made when I was teaching, I was

444
00:21:02,440 --> 00:21:06,119
Speaker 1: paying my pseudent loan down, but then when I lost

445
00:21:06,160 --> 00:21:09,720
Speaker 1: my job, I stopped. I just went into forbearings instead

446
00:21:09,720 --> 00:21:12,720
Speaker 1: of entering into the income based repayment program because I

447
00:21:12,720 --> 00:21:14,200
Speaker 1: was like, well, I can't afford it. And like my

448
00:21:14,480 --> 00:21:16,800
Speaker 1: friend Angelo, we had her on She's like, oh, I

449
00:21:16,800 --> 00:21:18,720
Speaker 1: wish I would have known you then, because if you

450
00:21:18,720 --> 00:21:21,560
Speaker 1: would have entered into the program, your income was zero,

451
00:21:21,640 --> 00:21:23,440
Speaker 1: so your payment would have been zero, So you still

452
00:21:23,440 --> 00:21:26,720
Speaker 1: would have been making quote unquote payments all of this time,

453
00:21:26,880 --> 00:21:29,560
Speaker 1: and my loans would have been one hundred percent forgiven

454
00:21:29,680 --> 00:21:32,040
Speaker 1: versus just like three or four years, like I was

455
00:21:32,080 --> 00:21:35,200
Speaker 1: able to like retroactively get part of my loan forgiven.

456
00:21:35,880 --> 00:21:39,399
Speaker 1: So yeah, so locking yourself in, especially if you're not working,

457
00:21:39,440 --> 00:21:42,960
Speaker 1: because then you can literally lock in that rate for

458
00:21:43,119 --> 00:21:47,240
Speaker 1: the for the duration of your time of paying at

459
00:21:47,280 --> 00:21:51,240
Speaker 1: that loan. So it's a repayment. And the thing is

460
00:21:51,240 --> 00:21:53,399
Speaker 1: the laws are changing. There are like laws on the

461
00:21:53,440 --> 00:21:57,680
Speaker 1: table now where these things will go away. So you're

462
00:21:57,720 --> 00:22:01,280
Speaker 1: wanting to lock yourself in, get Grandpa it in before

463
00:22:02,160 --> 00:22:05,560
Speaker 1: you know this year. Quite honestly, it's looking like June

464
00:22:05,600 --> 00:22:08,480
Speaker 1: July of this year that there are gonna be some

465
00:22:08,560 --> 00:22:12,040
Speaker 1: laws up for there's gonna be some changes in the

466
00:22:12,080 --> 00:22:14,199
Speaker 1: student forgiveness program. They're really trying to get rid of it,

467
00:22:14,240 --> 00:22:14,800
Speaker 1: quite honestly.

468
00:22:15,040 --> 00:22:19,480
Speaker 2: Yeah, what TIFF's talking about. So basically President Trump, Oh, sorry,

469
00:22:19,480 --> 00:22:23,840
Speaker 2: I just throw it in my mouth. He has. What

470
00:22:23,920 --> 00:22:26,680
Speaker 2: he's done is he's given his education proposal. He's actually

471
00:22:26,720 --> 00:22:28,800
Speaker 2: did this twice. He does it. They do it every year, right,

472
00:22:28,880 --> 00:22:31,040
Speaker 2: so last year he did it. He's doing another one.

473
00:22:31,080 --> 00:22:33,920
Speaker 2: And in his proposal, what Trump would like is for

474
00:22:34,119 --> 00:22:38,200
Speaker 2: by July of twenty nineteen, public service loan forgiveness, which

475
00:22:38,240 --> 00:22:40,400
Speaker 2: is a type of loan forgiveness for people who work

476
00:22:40,400 --> 00:22:44,639
Speaker 2: in the nonprofit or public sector who are eligible to

477
00:22:44,640 --> 00:22:47,119
Speaker 2: get their loans forgiven after making one hundred and twenty

478
00:22:47,160 --> 00:22:50,720
Speaker 2: on time payments. He's he's saying he wants to get

479
00:22:50,800 --> 00:22:52,320
Speaker 2: rid of that program. And then a lot of the

480
00:22:52,359 --> 00:22:56,639
Speaker 2: income driven repayment programs all together by next summer, I believe.

481
00:22:57,240 --> 00:22:59,919
Speaker 2: But you know, we recently did an article on this,

482
00:23:00,200 --> 00:23:02,480
Speaker 2: and I mean, this is his proposal. It's not actually

483
00:23:02,480 --> 00:23:05,480
Speaker 2: a law. What what what legislators have to do, congressmen

484
00:23:05,520 --> 00:23:07,480
Speaker 2: have to do is actually put together a you know,

485
00:23:07,520 --> 00:23:12,280
Speaker 2: an amendment to whatever, you know, whatever law has or

486
00:23:12,320 --> 00:23:15,000
Speaker 2: not law, but whatever regulations are in place at the

487
00:23:15,000 --> 00:23:19,200
Speaker 2: Department of Education that created these these programs. So it's

488
00:23:19,280 --> 00:23:21,480
Speaker 2: definitely like, I mean, if if Trump has it his way,

489
00:23:21,840 --> 00:23:24,720
Speaker 2: they're going to be gone. So but but you're right though,

490
00:23:24,760 --> 00:23:27,000
Speaker 2: you do wanna you want to get you want definitely

491
00:23:27,000 --> 00:23:29,480
Speaker 2: want to get enrolled, hopeful, hopefully. We don't even know

492
00:23:29,520 --> 00:23:31,679
Speaker 2: if you can be grandfathered in yet because there's no

493
00:23:32,200 --> 00:23:35,320
Speaker 2: the laws haven't been written. But the hope is yes,

494
00:23:35,359 --> 00:23:37,159
Speaker 2: if you get in now, you might be grandfathered in.

495
00:23:37,440 --> 00:23:40,120
Speaker 2: But it's not you know, all all I've heard from

496
00:23:40,160 --> 00:23:42,040
Speaker 2: experts is saying, you know, it's it's nice if you

497
00:23:42,040 --> 00:23:45,040
Speaker 2: can get in, but don't bank on these forgiveness programs

498
00:23:45,080 --> 00:23:49,919
Speaker 2: being around that much longer, which is a bummer. And

499
00:23:49,960 --> 00:23:52,280
Speaker 2: she asked what she asked specifically, what does student loan

500
00:23:52,359 --> 00:23:54,840
Speaker 2: forgiveness mean? So I just wanted to be sure we

501
00:23:54,880 --> 00:23:58,640
Speaker 2: answer that too. When your loan is forgiven. So let's

502
00:23:58,640 --> 00:24:00,880
Speaker 2: say you have a I don't know, twenty thousand dollars loan,

503
00:24:01,440 --> 00:24:04,560
Speaker 2: and you know you've reached your fifteen year limit on

504
00:24:04,600 --> 00:24:07,920
Speaker 2: income driven repayment and you have ten thousand dollars left.

505
00:24:08,160 --> 00:24:10,480
Speaker 2: They will essentially wipe the rest of your balance clean,

506
00:24:11,240 --> 00:24:13,480
Speaker 2: which means you don't owe that debt anymore. But one

507
00:24:13,480 --> 00:24:14,960
Speaker 2: thing you have to keep in mind is in the

508
00:24:15,000 --> 00:24:17,320
Speaker 2: eyes of the government and the eyes of the irs,

509
00:24:17,640 --> 00:24:20,359
Speaker 2: they've sort of just given you ten thousand dollars and

510
00:24:20,800 --> 00:24:23,760
Speaker 2: you may actually you probably will in fact have to

511
00:24:23,800 --> 00:24:27,280
Speaker 2: pay income taxes on or you could have to pay

512
00:24:27,280 --> 00:24:30,520
Speaker 2: income taxes on that forgiven balance. So keep that in mind.

513
00:24:30,840 --> 00:24:34,480
Speaker 2: I believe it's anything over six hundred dollars that's forgiven.

514
00:24:34,640 --> 00:24:37,000
Speaker 2: And I think that goes for any kind of debt,

515
00:24:37,240 --> 00:24:41,560
Speaker 2: credit card, debt, medical, like whatever, any debt that's forgiven

516
00:24:42,000 --> 00:24:45,760
Speaker 2: basically written off or not written off but discharged from

517
00:24:45,800 --> 00:24:49,080
Speaker 2: the person who owns the debt. Yeah, can be considered

518
00:24:49,160 --> 00:24:51,480
Speaker 2: taxable income, and you should get a tax form in

519
00:24:51,520 --> 00:24:51,879
Speaker 2: the mail.

520
00:24:52,200 --> 00:24:55,880
Speaker 1: And I'll say this, so when my my I lost

521
00:24:55,880 --> 00:24:59,480
Speaker 1: my home to foreclosure, and that debt was technically I

522
00:24:59,480 --> 00:25:02,440
Speaker 1: guess you could they forgive it because once the once

523
00:25:02,480 --> 00:25:04,679
Speaker 1: they take the house, they're like, okay, I didn't I

524
00:25:04,680 --> 00:25:07,160
Speaker 1: didn't have to pay you know what was left over.

525
00:25:07,359 --> 00:25:10,040
Speaker 1: So thankfully there was a long place at the time

526
00:25:10,440 --> 00:25:14,800
Speaker 1: that President Obama, my president, he had in place that

527
00:25:14,880 --> 00:25:19,000
Speaker 1: said although your house was foreclosed upon because it was

528
00:25:19,040 --> 00:25:21,680
Speaker 1: post recession, you're not going to have to pay taxes

529
00:25:21,720 --> 00:25:25,119
Speaker 1: on the balance that you owed. And so but I

530
00:25:25,160 --> 00:25:27,760
Speaker 1: know a lot of people who that happened to afterwards,

531
00:25:27,760 --> 00:25:30,359
Speaker 1: and after once that laws fired, I think it was

532
00:25:30,359 --> 00:25:32,760
Speaker 1: like in place for like two or three years. But

533
00:25:33,119 --> 00:25:35,200
Speaker 1: one thing my accountant told me, and this is why

534
00:25:35,240 --> 00:25:37,480
Speaker 1: you want to ask your accountant. He said, well, if

535
00:25:37,640 --> 00:25:41,919
Speaker 1: my income was below a certain amount of money, or

536
00:25:41,920 --> 00:25:43,800
Speaker 1: if your income and if you have not worked in

537
00:25:43,840 --> 00:25:46,080
Speaker 1: a certain you know, for twelve years year, you're likely

538
00:25:46,119 --> 00:25:49,000
Speaker 1: in this category. That Carlos told me that if my

539
00:25:49,040 --> 00:25:51,399
Speaker 1: income was you know, at a certain rate, that I

540
00:25:51,440 --> 00:25:54,119
Speaker 1: wouldn't have to pay because it's so it's almost like,

541
00:25:54,359 --> 00:25:57,919
Speaker 1: you know, like teenagers who make babysitting money are not

542
00:25:57,960 --> 00:26:01,880
Speaker 1: paying taxes because they just don't make enough. And so yeah, yeah,

543
00:26:01,920 --> 00:26:04,400
Speaker 1: so keep that in mind that like if you're if

544
00:26:04,400 --> 00:26:06,960
Speaker 1: you're at a certain level as it relates to your income,

545
00:26:07,000 --> 00:26:09,080
Speaker 1: you might not have to pay taxes either way. But

546
00:26:09,359 --> 00:26:11,800
Speaker 1: that's something you want to ask an account about.

547
00:26:12,040 --> 00:26:14,199
Speaker 2: And I'm just concerned because it's been twelve years. I mean,

548
00:26:14,520 --> 00:26:16,440
Speaker 2: send us a follow up email. Let us know things

549
00:26:16,480 --> 00:26:18,880
Speaker 2: like have you been making payments? Are they in collections?

550
00:26:18,920 --> 00:26:20,720
Speaker 2: Are you at least enrolled in have you been putting

551
00:26:20,720 --> 00:26:24,840
Speaker 2: your loans in deferment or forbearance? Yeah, let us know

552
00:26:24,920 --> 00:26:27,199
Speaker 2: because that'll help us, you know, maybe give you some

553
00:26:27,240 --> 00:26:31,239
Speaker 2: more specific advice in the meantime, you know whatever. If

554
00:26:31,280 --> 00:26:33,600
Speaker 2: you're if you're struggling, at least call your loan service

555
00:26:33,640 --> 00:26:36,560
Speaker 2: ors whoever owns them and ask about your options because

556
00:26:36,600 --> 00:26:38,280
Speaker 2: they should be able to tell you what your options

557
00:26:38,280 --> 00:26:43,840
Speaker 2: are as well forgetting lower payments or whatever. So thanks

558
00:26:43,840 --> 00:26:45,160
Speaker 2: for your question of shocking.

559
00:26:47,000 --> 00:26:50,040
Speaker 1: Next, yeah, question, These questions are great, You're right.

560
00:26:50,840 --> 00:26:54,119
Speaker 2: Thanks. I take pride in you guys. Some Oh. I

561
00:26:54,160 --> 00:26:56,600
Speaker 2: got to take this question from from listener Mo because

562
00:26:56,680 --> 00:26:59,199
Speaker 2: my my bestie in college my college room may. Her

563
00:26:59,240 --> 00:27:02,359
Speaker 2: name is Mo and I loved Mohezy. Where are you at?

564
00:27:02,359 --> 00:27:06,320
Speaker 2: I hope you're listening, okay. Moe says she wants to

565
00:27:06,359 --> 00:27:09,160
Speaker 2: know what are your thoughts on long term care policies.

566
00:27:09,960 --> 00:27:12,320
Speaker 2: My mom passed away recently, and it really bothers me

567
00:27:12,359 --> 00:27:14,359
Speaker 2: that I was unable to admit her to the nursing

568
00:27:14,400 --> 00:27:17,080
Speaker 2: home she desired because of the cost. She felt that

569
00:27:17,160 --> 00:27:19,760
Speaker 2: long term care policies weren't worth the investment. But I

570
00:27:19,800 --> 00:27:22,359
Speaker 2: regret not encouraging her to invest in the policy or

571
00:27:22,400 --> 00:27:24,000
Speaker 2: purchasing a policy on her behalf.

572
00:27:24,920 --> 00:27:28,000
Speaker 1: We so, and you know, it's so crazy how things

573
00:27:28,040 --> 00:27:33,320
Speaker 1: come up. So a friend of mine, she her mother

574
00:27:33,359 --> 00:27:37,040
Speaker 1: in law, is passing away currently of cancer. She's eighty seven,

575
00:27:37,240 --> 00:27:40,639
Speaker 1: and she and her husband are have been trying to

576
00:27:40,640 --> 00:27:42,159
Speaker 1: figure out how they're going to be able to afford

577
00:27:42,160 --> 00:27:45,440
Speaker 1: the care she needs, basically care twenty four to seven

578
00:27:45,560 --> 00:27:48,080
Speaker 1: and they've been taking care of her, but it's just

579
00:27:48,119 --> 00:27:51,479
Speaker 1: been really expensive. And she is a financial expert, but honestly,

580
00:27:51,520 --> 00:27:53,480
Speaker 1: she was like, I don't I don't know what to do.

581
00:27:54,000 --> 00:27:56,119
Speaker 1: And so what I did actually I reached out today,

582
00:27:56,160 --> 00:27:58,520
Speaker 1: like right before you know, we got on, I reached

583
00:27:58,520 --> 00:28:00,840
Speaker 1: out today and I spoke to my best friend Linda,

584
00:28:00,840 --> 00:28:04,159
Speaker 1: who's a social worker, and I said Linda, you know

585
00:28:04,240 --> 00:28:07,760
Speaker 1: what can she do? And so if you're talking about

586
00:28:07,760 --> 00:28:09,760
Speaker 1: a parent, and if your parent is receiving this is

587
00:28:09,800 --> 00:28:13,600
Speaker 1: what Linda told me. If your parent is receiving Social Security,

588
00:28:14,400 --> 00:28:17,199
Speaker 1: you can reach out and to the Social Security office

589
00:28:17,720 --> 00:28:21,600
Speaker 1: and say, hey, you know, I'd like to apply for

590
00:28:21,680 --> 00:28:26,600
Speaker 1: both Medicare and Medicaid because once you reach a certain

591
00:28:26,640 --> 00:28:28,640
Speaker 1: age you might be eligible. There are some older people

592
00:28:28,680 --> 00:28:31,199
Speaker 1: who are eligible for both. And if you're eligible for

593
00:28:31,280 --> 00:28:36,159
Speaker 1: both Medicare and Medicaid will actually cover everything. I just

594
00:28:36,200 --> 00:28:39,360
Speaker 1: had a friend like two years ago pass away. She

595
00:28:39,480 --> 00:28:43,240
Speaker 1: had diabetes and her she left behind her mom who

596
00:28:43,840 --> 00:28:47,920
Speaker 1: was down to a wheelchair. And Linda was able to

597
00:28:47,960 --> 00:28:50,240
Speaker 1: get on the phone with her through Social Security and

598
00:28:50,280 --> 00:28:52,800
Speaker 1: make sure she got both Medicare and Medicaid. And they

599
00:28:52,800 --> 00:28:55,280
Speaker 1: did everything. I mean, they put a ramp on her house,

600
00:28:55,480 --> 00:28:57,720
Speaker 1: they take her food shopping, you know, once a week,

601
00:28:58,200 --> 00:29:00,680
Speaker 1: they come clean up the house. They will pay for it, everything,

602
00:29:00,760 --> 00:29:03,280
Speaker 1: all of your medical equipment, they'll take you to the doctor.

603
00:29:03,640 --> 00:29:05,480
Speaker 1: A lot of people don't realize that they're all of

604
00:29:05,480 --> 00:29:08,320
Speaker 1: these services that come attached. That actually told Linda, I'm like,

605
00:29:08,360 --> 00:29:11,040
Speaker 1: you need to see your class on this, because Linda

606
00:29:11,160 --> 00:29:14,400
Speaker 1: is like, like, anytime someone's like I don't know how

607
00:29:14,440 --> 00:29:16,360
Speaker 1: to get this service, I'm like, let me call Linda.

608
00:29:17,320 --> 00:29:20,280
Speaker 1: So here's the thing. I didn't really understand the difference

609
00:29:20,280 --> 00:29:25,080
Speaker 1: between Medicare and Medicaid. So she said, typically you get

610
00:29:25,160 --> 00:29:28,080
Speaker 1: Medicare first, depending on your age. But she's like, if

611
00:29:28,080 --> 00:29:30,680
Speaker 1: they're older, Medicare usually is offered first.

612
00:29:30,440 --> 00:29:34,080
Speaker 2: And sixty five, yeah, in sixty five to qualify for Medicare.

613
00:29:34,080 --> 00:29:37,680
Speaker 2: Everybody is eligible for Medicare as part of your paycheck,

614
00:29:37,720 --> 00:29:43,360
Speaker 2: taxes you pay into Medicare. Medicaid is for its income restricted,

615
00:29:43,480 --> 00:29:45,920
Speaker 2: so it's typically for people who are low income.

616
00:29:46,600 --> 00:29:49,720
Speaker 1: And that's supplementary, you know. But the good thing is

617
00:29:49,760 --> 00:29:52,320
Speaker 1: it is like, let's just say that you're only able

618
00:29:52,320 --> 00:29:55,600
Speaker 1: to get Medicare. She was like, and Medicare doesn't cover everything.

619
00:29:55,720 --> 00:29:58,560
Speaker 1: There are typically something called the supplemental insurance that you

620
00:29:58,600 --> 00:30:01,880
Speaker 1: can use to cover what Medicare doesn't cover, and depending

621
00:30:01,920 --> 00:30:05,600
Speaker 1: on how old you are, you can It's not that expensive,

622
00:30:05,720 --> 00:30:07,680
Speaker 1: you know, in comparison to what it would be to

623
00:30:07,720 --> 00:30:10,000
Speaker 1: cover all of these things on your own. So you

624
00:30:10,080 --> 00:30:13,800
Speaker 1: might get Medicare and then you might get like some

625
00:30:13,840 --> 00:30:16,600
Speaker 1: supplementary like you know, for fifty bucks a month that

626
00:30:16,680 --> 00:30:21,640
Speaker 1: will cover everything else. So yeah, long term, it's a

627
00:30:21,760 --> 00:30:24,720
Speaker 1: it's a it's hard to navigate because a lot of

628
00:30:24,760 --> 00:30:27,800
Speaker 1: times if you call, like especially if you call the

629
00:30:27,800 --> 00:30:31,640
Speaker 1: Medicare a Medicaid office, sometimes they're not as open to helping.

630
00:30:31,960 --> 00:30:34,400
Speaker 1: That's why she always suggests if the person that you're

631
00:30:34,440 --> 00:30:37,520
Speaker 1: helping gets Social Security, it's the best place to start,

632
00:30:37,720 --> 00:30:42,240
Speaker 1: because they're like the top tier, and then from there,

633
00:30:42,560 --> 00:30:44,840
Speaker 1: you know, they kind of force the hand of everybody

634
00:30:44,840 --> 00:30:47,440
Speaker 1: else underneath them. And so I just got that advice today,

635
00:30:47,480 --> 00:30:49,520
Speaker 1: and I've just shared with my friend who's dealing with,

636
00:30:49,880 --> 00:30:52,080
Speaker 1: you know, her dying mother in law right now, to

637
00:30:52,200 --> 00:30:54,680
Speaker 1: like start that process, to literally say, I want to

638
00:30:54,720 --> 00:30:57,280
Speaker 1: apply for Medicare for my mother and would like for

639
00:30:57,440 --> 00:31:01,320
Speaker 1: Medicaid to be the supplementary insurance. How to start that process?

640
00:31:02,120 --> 00:31:05,160
Speaker 1: And they keep on it. I've seen Linda trance from

641
00:31:05,240 --> 00:31:08,000
Speaker 1: so many people's lives who didn't realize, like, wait, they'll

642
00:31:08,000 --> 00:31:10,360
Speaker 1: take me food shopping, they'll take me to the doctor,

643
00:31:10,480 --> 00:31:12,600
Speaker 1: they'll build a ramp on my house. I mean, they'll

644
00:31:12,640 --> 00:31:15,680
Speaker 1: do Linda was like, they will do everything, but if

645
00:31:15,680 --> 00:31:17,600
Speaker 1: you don't know, then you don't ask. And then you

646
00:31:17,640 --> 00:31:18,160
Speaker 1: don't receive.

647
00:31:18,800 --> 00:31:22,479
Speaker 2: Okay, moving on to the next question. Let us see,

648
00:31:22,640 --> 00:31:25,160
Speaker 2: let us see, let us see. How about this question

649
00:31:25,200 --> 00:31:29,320
Speaker 2: from a preschool teacher. Okay, your people, This is from

650
00:31:29,400 --> 00:31:33,480
Speaker 2: listener Daja. She says, help. I love you guys, like

651
00:31:33,560 --> 00:31:36,920
Speaker 2: every email's like help all caps. I'm a twenty nine

652
00:31:36,960 --> 00:31:38,920
Speaker 2: year old preschool teacher, and I have a question about

653
00:31:38,920 --> 00:31:41,120
Speaker 2: whether or not I'm doing the right thing with my savings.

654
00:31:41,440 --> 00:31:43,440
Speaker 2: In my four to one K, I save eight percent.

655
00:31:44,000 --> 00:31:46,920
Speaker 2: My company will soon match twenty five percent of my

656
00:31:46,960 --> 00:31:49,560
Speaker 2: savings after my first year. And I have a regular

657
00:31:49,600 --> 00:31:52,400
Speaker 2: savings account in which I put twelve percent from my

658
00:31:52,440 --> 00:31:55,800
Speaker 2: take home pay. I'm earning about one point four or

659
00:31:55,840 --> 00:31:59,280
Speaker 2: five percent in that savings account. Should I contribute more

660
00:31:59,280 --> 00:32:00,840
Speaker 2: to my four one K or just leave it the

661
00:32:00,840 --> 00:32:02,880
Speaker 2: way I have it. I'm just trying to maximize my

662
00:32:02,960 --> 00:32:06,400
Speaker 2: retirement funds. The crux is she's putting eight percent of

663
00:32:06,400 --> 00:32:08,840
Speaker 2: her income in her four one K, but she's putting

664
00:32:08,880 --> 00:32:15,320
Speaker 2: twelve percent into her regular her regular savings account. Well,

665
00:32:15,400 --> 00:32:17,800
Speaker 2: it depends, because we're not getting like all the information. Again,

666
00:32:17,960 --> 00:32:21,040
Speaker 2: it depends do you have a sufficient savings account? Like

667
00:32:21,080 --> 00:32:24,360
Speaker 2: are you saving too much in cash? Because I'm guilty

668
00:32:24,400 --> 00:32:27,680
Speaker 2: of this. You you're like, oh, I want. I like

669
00:32:27,760 --> 00:32:29,480
Speaker 2: the comfort of knowing I have a lot of cash

670
00:32:29,480 --> 00:32:31,840
Speaker 2: in my account. It looks really pretty there. It's nice

671
00:32:31,840 --> 00:32:32,120
Speaker 2: to look.

672
00:32:32,200 --> 00:32:35,280
Speaker 1: Yeah. I call it the old lady mattress syndrome. And

673
00:32:35,320 --> 00:32:38,560
Speaker 1: I Mandy and I both suffer severely from old lady

674
00:32:38,560 --> 00:32:39,240
Speaker 1: mattress syndrome.

675
00:32:39,840 --> 00:32:43,680
Speaker 2: Scarred as children, yeah, as adults. So that's my first question.

676
00:32:43,720 --> 00:32:45,760
Speaker 2: If you've got you know, a good six months in

677
00:32:45,800 --> 00:32:48,480
Speaker 2: there and you feel comfortable, I would say, yeah, you should.

678
00:32:48,560 --> 00:32:50,120
Speaker 2: You should shift a little bit more to your four

679
00:32:50,200 --> 00:32:54,160
Speaker 2: one K. You're young, yep. You know. You don't say

680
00:32:54,200 --> 00:32:56,320
Speaker 2: whether you have children or not, or other expenses. I'm

681
00:32:56,360 --> 00:32:58,200
Speaker 2: going to assume that you don't. I mean, I think

682
00:32:58,240 --> 00:32:59,960
Speaker 2: this is the time I always think of my twenty

683
00:33:00,160 --> 00:33:01,960
Speaker 2: is just like, okay, this is a selfish time. I

684
00:33:02,000 --> 00:33:04,000
Speaker 2: need to put away, put away, put away before other

685
00:33:04,040 --> 00:33:07,160
Speaker 2: things come and distract you, like children and I don't know,

686
00:33:07,160 --> 00:33:11,600
Speaker 2: home improvement projects something like that. But you know, you

687
00:33:11,640 --> 00:33:13,400
Speaker 2: should be putting away as much as you can. But

688
00:33:13,520 --> 00:33:16,320
Speaker 2: you know, only if you have like definitely, first your

689
00:33:16,360 --> 00:33:18,400
Speaker 2: emergency fund is important. But if you're been putting if

690
00:33:18,400 --> 00:33:20,640
Speaker 2: you've been putting away twelve percent for a while, which

691
00:33:20,640 --> 00:33:23,560
Speaker 2: it seems like you have. Yeah, you might be good

692
00:33:23,920 --> 00:33:25,840
Speaker 2: and you might be able to shift more of that

693
00:33:25,880 --> 00:33:27,480
Speaker 2: towards your you're four one k.

694
00:33:28,440 --> 00:33:31,760
Speaker 1: You have to, like especially if you're for as a woman.

695
00:33:32,080 --> 00:33:36,240
Speaker 1: You know, we typically live longer than men. So you know,

696
00:33:36,320 --> 00:33:38,160
Speaker 1: the rule of thumb is you're supposed to set aside

697
00:33:38,160 --> 00:33:39,800
Speaker 1: like ten percent of your income, so that way you

698
00:33:39,840 --> 00:33:43,240
Speaker 1: have enough for women. I suggest even a little more

699
00:33:43,280 --> 00:33:45,840
Speaker 1: than that, because the likelihood of you living longer than

700
00:33:45,840 --> 00:33:49,959
Speaker 1: the man is possible, more than possible, and so setting

701
00:33:49,960 --> 00:33:53,880
Speaker 1: aside more so at least inch yourself up to that

702
00:33:53,920 --> 00:33:56,560
Speaker 1: ten percent, so that way, you know, like I I

703
00:33:56,600 --> 00:33:58,520
Speaker 1: don't have you ever named your old lady's self, Mandy,

704
00:33:58,520 --> 00:34:00,960
Speaker 1: Did we ever talk about that? No?

705
00:34:01,160 --> 00:34:03,800
Speaker 2: But I should so she can be friends with Wanda.

706
00:34:03,920 --> 00:34:07,720
Speaker 1: Yes, so my old lady self is named Wanda. And

707
00:34:07,800 --> 00:34:09,600
Speaker 1: I don't know, it just seemed Wanda just seems like

708
00:34:09,640 --> 00:34:11,239
Speaker 1: such a great old lady name, like she's got a

709
00:34:11,280 --> 00:34:14,239
Speaker 1: little sad to her and like you know, she still

710
00:34:14,360 --> 00:34:17,440
Speaker 1: is fun and young. But it helps to for me

711
00:34:17,600 --> 00:34:22,719
Speaker 1: to conceptualize setting aside for someone versus like it's hard

712
00:34:22,760 --> 00:34:24,480
Speaker 1: to think of like my old self, Like, oh, but

713
00:34:24,560 --> 00:34:26,520
Speaker 1: it's like no Wanda, Like, let me put this aside

714
00:34:26,520 --> 00:34:29,040
Speaker 1: for Wanda, so she could not eat cat food. So

715
00:34:29,160 --> 00:34:31,160
Speaker 1: definitely name your old lady self. We're gonna get Mandy

716
00:34:31,160 --> 00:34:34,279
Speaker 1: an old lady self name. You could certainly hit us

717
00:34:34,360 --> 00:34:36,640
Speaker 1: up on Instagram or Facebook or Twitter if you have

718
00:34:36,680 --> 00:34:39,120
Speaker 1: an old lady named suggestion for miss Mandy.

719
00:34:40,239 --> 00:34:42,400
Speaker 2: I mean, I'm but I'm just so hyper aware of

720
00:34:42,400 --> 00:34:44,080
Speaker 2: my own mortality that I don't even need a old

721
00:34:44,120 --> 00:34:49,960
Speaker 2: lady Okay, I have no problem picturing myself. I have

722
00:34:50,040 --> 00:34:52,719
Speaker 2: no problem imagining myself old, graying and dying because I

723
00:34:52,760 --> 00:34:54,680
Speaker 2: think about that all the time, Like, yeah, one day

724
00:34:54,680 --> 00:34:55,440
Speaker 2: I'm going to die.

725
00:34:55,719 --> 00:34:58,760
Speaker 1: But definitely definitely definitely shoring up your future. It's corit

726
00:34:58,840 --> 00:35:01,400
Speaker 1: to cow like it. I always think this that it

727
00:35:01,480 --> 00:35:03,440
Speaker 1: is your younger self job to take care of your

728
00:35:03,480 --> 00:35:07,480
Speaker 1: older self, And it's like, now is the time you

729
00:35:07,480 --> 00:35:10,040
Speaker 1: have the energy, you have the ability, you've got the

730
00:35:10,080 --> 00:35:12,360
Speaker 1: time to put in the work and set aside and

731
00:35:12,400 --> 00:35:16,600
Speaker 1: stock away. Wealth typically doesn't magically happen to people. It's

732
00:35:16,640 --> 00:35:19,239
Speaker 1: usually systematic. I mean, some people are fortunate enough to

733
00:35:19,239 --> 00:35:23,040
Speaker 1: like inherit, but the average person who has wealth. It

734
00:35:23,160 --> 00:35:26,520
Speaker 1: was something that they actively pursued. And if you're wanting

735
00:35:26,560 --> 00:35:29,320
Speaker 1: to set yourself up to not have to worry, then yeah,

736
00:35:29,360 --> 00:35:32,759
Speaker 1: definitely putting at least ten percent away for retirement. And

737
00:35:32,960 --> 00:35:36,160
Speaker 1: I'm assuming that your retirement account is definitely generating more

738
00:35:36,200 --> 00:35:40,879
Speaker 1: than one point four percent a year in interest. So

739
00:35:41,000 --> 00:35:43,920
Speaker 1: that's just the best place to put it, especially if

740
00:35:43,960 --> 00:35:46,200
Speaker 1: you have, like Manby said, you're you're six months worth

741
00:35:46,239 --> 00:35:47,560
Speaker 1: of emergency funds.

742
00:35:47,800 --> 00:35:51,239
Speaker 2: Yeah, one point four or five percent is great for

743
00:35:51,280 --> 00:35:52,839
Speaker 2: a savings account. It sounds like you have a good

744
00:35:52,840 --> 00:35:56,800
Speaker 2: online savings account, but the stock market on average is

745
00:35:56,840 --> 00:36:00,920
Speaker 2: going to give you seven percent, yeah conservatively. Yeah, and

746
00:36:00,960 --> 00:36:02,520
Speaker 2: you're going to have so many you're twenty nine, you

747
00:36:02,520 --> 00:36:04,840
Speaker 2: have so many years with that money. To girl, girlfriend,

748
00:36:05,160 --> 00:36:06,399
Speaker 2: don't be afraid to put it away.

749
00:36:07,000 --> 00:36:09,359
Speaker 1: You sound like Susie Ormand you said a girlfriend just like.

750
00:36:09,520 --> 00:36:15,239
Speaker 2: No, no, let's just die a little on the inside.

751
00:36:17,360 --> 00:36:20,320
Speaker 2: You know, I was looking at getting a Bidazzle blazer today.

752
00:36:20,600 --> 00:36:23,239
Speaker 2: I thought I might get one, So yeah, this list.

753
00:36:23,400 --> 00:36:28,200
Speaker 2: Last question comes from Amora, who says I have a dilemma.

754
00:36:28,880 --> 00:36:30,759
Speaker 2: So she literally just gives a list of all her debts.

755
00:36:30,760 --> 00:36:33,160
Speaker 2: So let's get through that real quick. Okay. Thirty five

756
00:36:33,160 --> 00:36:36,680
Speaker 2: thousand dollars in student loans, ninety five hundred dollars my

757
00:36:37,000 --> 00:36:41,400
Speaker 2: car loan, twelve thousand dollars car loan I helped co

758
00:36:41,560 --> 00:36:44,120
Speaker 2: sign for a family member. Help again with the help

759
00:36:45,320 --> 00:36:47,440
Speaker 2: nine thousand? Are you keeping? You should add these up

760
00:36:47,480 --> 00:36:47,880
Speaker 2: as I go.

761
00:36:48,200 --> 00:36:50,239
Speaker 1: Okay, okay, let me hold on, hold on, hold on,

762
00:36:50,320 --> 00:36:51,560
Speaker 1: hold on, hold on, let me get mine. We have

763
00:36:51,560 --> 00:36:53,879
Speaker 1: to start from the beginning that way, okay, okay, let's

764
00:36:53,880 --> 00:36:54,560
Speaker 1: start from the beginning.

765
00:36:54,600 --> 00:36:58,080
Speaker 2: Thirty five thirty five thousand student loans, okay, ninety five

766
00:36:58,160 --> 00:37:01,719
Speaker 2: hundred dollars her car loan, Okay, twelve thousand dollars for

767
00:37:01,800 --> 00:37:04,200
Speaker 2: a car loan that she co signed for a family member,

768
00:37:05,520 --> 00:37:08,839
Speaker 2: nine thousand dollars in credit card debt, and eighty one

769
00:37:08,920 --> 00:37:12,400
Speaker 2: hundred dollars in a hospital bill that hit collections.

770
00:37:12,719 --> 00:37:13,680
Speaker 1: Okay. That's it.

771
00:37:14,239 --> 00:37:15,279
Speaker 2: That's it. That's it.

772
00:37:15,760 --> 00:37:18,360
Speaker 1: More well, I'm just saying, you know, no, seventy three thousand,

773
00:37:18,800 --> 00:37:20,520
Speaker 1: six hundred dollars.

774
00:37:20,320 --> 00:37:24,359
Speaker 2: Ouch, which is okay, twelve thousand of that is not

775
00:37:24,400 --> 00:37:26,480
Speaker 2: necessarily that she owns, but her name is on it,

776
00:37:26,520 --> 00:37:29,839
Speaker 2: so she's liable for it exactly, Okay. So she wants

777
00:37:29,920 --> 00:37:33,479
Speaker 2: to know should I consolidate my debt? Any advice would

778
00:37:33,480 --> 00:37:35,960
Speaker 2: be so helpful. Basically, what the hell do I do

779
00:37:36,040 --> 00:37:37,359
Speaker 2: with all these different types of debt?

780
00:37:38,719 --> 00:37:43,240
Speaker 1: Okay? So I would like to talk about the credit

781
00:37:43,320 --> 00:37:45,800
Speaker 1: card of the hospital debt first because that might be

782
00:37:45,840 --> 00:37:48,920
Speaker 1: the easiest to start with. Okay, So if it's in

783
00:37:48,960 --> 00:37:54,239
Speaker 1: collections credit card, like not credit card, I'm sorry, hospital,

784
00:37:55,200 --> 00:37:59,000
Speaker 1: It depends, like what kind of collections. So hospitals sometimes

785
00:37:59,040 --> 00:38:02,359
Speaker 1: have their own in or a collection agency before they

786
00:38:02,360 --> 00:38:04,000
Speaker 1: send it, like they just totally sell it off to

787
00:38:04,080 --> 00:38:07,640
Speaker 1: like bobbing them. So here's the thing about hospitals. They

788
00:38:07,800 --> 00:38:11,200
Speaker 1: wanted to negotiate. I owed, I don't know, maybe like

789
00:38:11,440 --> 00:38:13,839
Speaker 1: two thousand dollars because I decided to dye my own

790
00:38:13,840 --> 00:38:16,360
Speaker 1: hair and almost died, and so I didn't know I

791
00:38:16,400 --> 00:38:19,040
Speaker 1: was allergic to black dye until my face swell up

792
00:38:19,360 --> 00:38:22,040
Speaker 1: and I went to the hospital because I didn't have insurance,

793
00:38:22,560 --> 00:38:24,319
Speaker 1: and that was hit with like a two thousand dollars bill.

794
00:38:24,640 --> 00:38:27,560
Speaker 1: I negotiated that down to like, I want to say,

795
00:38:28,440 --> 00:38:31,239
Speaker 1: seven hundred something in that range. But I've had my

796
00:38:31,280 --> 00:38:34,960
Speaker 1: sister negotiated her ten thousand dollars bill down to like

797
00:38:35,040 --> 00:38:37,719
Speaker 1: three thousand, So you have a lot of negotiating room

798
00:38:37,760 --> 00:38:40,120
Speaker 1: with the hospital bill. So I would definitely start there.

799
00:38:40,320 --> 00:38:42,400
Speaker 2: And there's not interest collecting on that, correct I mean,

800
00:38:42,400 --> 00:38:45,279
Speaker 2: I know it's hurting your credit, but it's not like

801
00:38:45,320 --> 00:38:47,440
Speaker 2: it's dragging. It's not like you're racking up a bunch

802
00:38:47,480 --> 00:38:50,040
Speaker 2: of interest charges. And I believe, I mean, I know

803
00:38:50,160 --> 00:38:54,000
Speaker 2: for a fact that three credit bureaus recently changed things

804
00:38:54,000 --> 00:38:57,800
Speaker 2: for a certain credit score where a medical debt passed you,

805
00:38:57,920 --> 00:39:01,560
Speaker 2: a medical debt shouldn't impact your credit as significantly as

806
00:39:02,080 --> 00:39:03,920
Speaker 2: other types of debt exactly.

807
00:39:04,000 --> 00:39:07,320
Speaker 1: So I would I would start there like negotiating, negotiating, negotiate,

808
00:39:07,360 --> 00:39:10,799
Speaker 1: get it down. Then I would mosey on over to

809
00:39:10,920 --> 00:39:14,440
Speaker 1: the co sign. There are not too many ways to

810
00:39:14,440 --> 00:39:16,720
Speaker 1: get out of a co sign. Is this person current?

811
00:39:16,760 --> 00:39:20,479
Speaker 1: You didn't say if they are, you can actually get

812
00:39:20,560 --> 00:39:24,560
Speaker 1: refinanced out of a co sign loan if they're current

813
00:39:24,680 --> 00:39:27,719
Speaker 1: and they've been making enough on time payments. Oftentimes they

814
00:39:27,760 --> 00:39:30,160
Speaker 1: look to see like, okay, how much equity they have

815
00:39:30,239 --> 00:39:34,200
Speaker 1: in the car and the bank that the car is

816
00:39:34,239 --> 00:39:38,400
Speaker 1: being loaned from, or the money that the car is

817
00:39:38,400 --> 00:39:41,759
Speaker 1: being loaned from, that that bank can possibly like you know,

818
00:39:41,840 --> 00:39:44,160
Speaker 1: refinance you out. Both parties have to be on board,

819
00:39:44,160 --> 00:39:46,600
Speaker 1: so the person that you co signed with and the bank.

820
00:39:46,800 --> 00:39:50,520
Speaker 1: But if they're making on time payments, that's definitely a possibility.

821
00:39:51,120 --> 00:39:53,360
Speaker 2: Yeah, it doesn't. She doesn't say that they haven't been

822
00:39:53,360 --> 00:39:55,640
Speaker 2: making payments, but it's definitely like you want to get

823
00:39:55,680 --> 00:39:59,040
Speaker 2: out of that situation because they could easily stop. And

824
00:39:59,080 --> 00:40:02,319
Speaker 2: you've got enough problem on your own your car note

825
00:40:02,400 --> 00:40:05,480
Speaker 2: ninety five. I mean with a with a hospital bill

826
00:40:05,520 --> 00:40:07,719
Speaker 2: and collections and so much other debt, I'm not sure

827
00:40:07,760 --> 00:40:11,040
Speaker 2: you'd be able to refinance your car loan and get

828
00:40:11,080 --> 00:40:13,840
Speaker 2: a better rate. You might be stuck with it. You

829
00:40:13,920 --> 00:40:15,479
Speaker 2: might be stuck with it. I mean you can try

830
00:40:15,600 --> 00:40:18,000
Speaker 2: if you're not underwater. That just means if your car

831
00:40:18,120 --> 00:40:20,880
Speaker 2: loan isn't more than that your car is worth, you

832
00:40:20,920 --> 00:40:24,000
Speaker 2: could consider selling it, using the money to pay off

833
00:40:24,000 --> 00:40:27,279
Speaker 2: some other debt, taking public transit for a while, So

834
00:40:27,320 --> 00:40:30,760
Speaker 2: you say, one of those expenses. That's the only options

835
00:40:30,760 --> 00:40:32,360
Speaker 2: I could think of for your car. Just you know,

836
00:40:32,480 --> 00:40:35,160
Speaker 2: don't don't do something like traded in.

837
00:40:35,239 --> 00:40:40,959
Speaker 1: That would be yeah, don't do that. And then student loans,

838
00:40:41,160 --> 00:40:43,359
Speaker 1: you could definitely look at the forgiveness. Maybe I don't

839
00:40:43,360 --> 00:40:45,920
Speaker 1: know what you do for a living well forgiveness.

840
00:40:45,920 --> 00:40:49,040
Speaker 2: I mean, the student loans are the least if they're federal,

841
00:40:49,120 --> 00:40:51,279
Speaker 2: that's the least of you know that for me, you know,

842
00:40:51,280 --> 00:40:53,479
Speaker 2: they're probably a lower interest rate than the car loan

843
00:40:53,600 --> 00:40:57,000
Speaker 2: or the credit card. I would say, if you haven't yet,

844
00:40:57,040 --> 00:40:59,200
Speaker 2: contact your loan service er and see if you can

845
00:40:59,200 --> 00:41:03,560
Speaker 2: get enrolled and income driven repayment plan, because they'll tie

846
00:41:03,600 --> 00:41:07,000
Speaker 2: it to your disposable income, which is important not just

847
00:41:07,080 --> 00:41:09,839
Speaker 2: your income, but your disposable income. So if you show

848
00:41:09,840 --> 00:41:11,640
Speaker 2: you have a bunch of debt on top of your earnings,

849
00:41:11,680 --> 00:41:13,840
Speaker 2: you know you may be able to qualify for a

850
00:41:13,840 --> 00:41:18,360
Speaker 2: lower minimum payment, which will help reduce some of that

851
00:41:18,360 --> 00:41:22,920
Speaker 2: that pressure. As far as consolidating, you know, especially for

852
00:41:22,960 --> 00:41:25,280
Speaker 2: the credit card, which we haven't gotten to yet, there's

853
00:41:25,600 --> 00:41:28,120
Speaker 2: you you should be able to. I mean, consolidation would

854
00:41:28,120 --> 00:41:29,880
Speaker 2: be a smart way because if you have these different

855
00:41:29,880 --> 00:41:33,359
Speaker 2: types of debts, you know you may want if you're

856
00:41:33,360 --> 00:41:35,840
Speaker 2: having if you're having trouble make it keeping up with payments,

857
00:41:36,200 --> 00:41:38,520
Speaker 2: if you have those private loans, if you know their

858
00:41:38,560 --> 00:41:41,640
Speaker 2: student loans are private, I mean, you could refinance those

859
00:41:42,000 --> 00:41:45,799
Speaker 2: or consolidate them through a refinance loan, which would you know,

860
00:41:45,800 --> 00:41:48,440
Speaker 2: if you have three different student loans totally thirty five

861
00:41:48,440 --> 00:41:51,239
Speaker 2: thousand dollars, you would basically pay them all off with

862
00:41:51,280 --> 00:41:54,240
Speaker 2: this new loan and then be left with one loan. Again,

863
00:41:54,320 --> 00:41:57,840
Speaker 2: you'll need decent ish credit to qualify for most student

864
00:41:57,840 --> 00:42:02,239
Speaker 2: loan refis with credit card debt, but one I have

865
00:42:02,320 --> 00:42:05,680
Speaker 2: a feeling that's across several different cards, okay, and I

866
00:42:05,680 --> 00:42:07,520
Speaker 2: think you could stand to save a lot if you

867
00:42:07,560 --> 00:42:11,719
Speaker 2: can qualify for either a personal loan, that would help

868
00:42:11,760 --> 00:42:13,839
Speaker 2: you pay off those credit cards and you'll be left

869
00:42:13,840 --> 00:42:17,240
Speaker 2: with just that personal loan. Alternatively, you can do if

870
00:42:17,600 --> 00:42:19,799
Speaker 2: I don't know, if well, I hesitate to recommend a

871
00:42:19,840 --> 00:42:20,960
Speaker 2: balance transfer.

872
00:42:20,640 --> 00:42:23,000
Speaker 1: I was thinking that, yeah, yeah.

873
00:42:22,760 --> 00:42:25,320
Speaker 2: Because balance transfers, although they sound great, you get zero

874
00:42:25,320 --> 00:42:27,600
Speaker 2: percent for twelve months. If you can't pay it off

875
00:42:27,600 --> 00:42:30,560
Speaker 2: after twelve months, then you know, yes, you've bought yourself

876
00:42:30,600 --> 00:42:33,600
Speaker 2: some time, but you're gonna end up with a new

877
00:42:33,640 --> 00:42:36,160
Speaker 2: credit card with with the with the high interest rate

878
00:42:36,719 --> 00:42:39,319
Speaker 2: exactly like all credit cards have high interest rates. So

879
00:42:40,640 --> 00:42:43,759
Speaker 2: as far as personal loans versus balance transfers, so you

880
00:42:43,800 --> 00:42:46,239
Speaker 2: could you know, not to toot my own horn, but

881
00:42:46,280 --> 00:42:48,799
Speaker 2: you could go to magnify Money or lending tree dot

882
00:42:48,840 --> 00:42:52,360
Speaker 2: com and put in a couple of just personal details

883
00:42:52,360 --> 00:42:56,120
Speaker 2: about yourself, just not not the full everything, but a

884
00:42:56,160 --> 00:42:59,960
Speaker 2: few details, and see if you can get pre qualified

885
00:43:00,360 --> 00:43:02,839
Speaker 2: for some personal loans. And this actually won't hurt your

886
00:43:02,840 --> 00:43:05,759
Speaker 2: credit score because it's a soft pull, then you'll at

887
00:43:05,800 --> 00:43:08,719
Speaker 2: least get an answer, like what it's basically telling you is, oh,

888
00:43:08,760 --> 00:43:10,279
Speaker 2: is it likely that I'll get approved? Or is it

889
00:43:10,320 --> 00:43:12,160
Speaker 2: likely it won't get approved? And if if it tells

890
00:43:12,200 --> 00:43:14,120
Speaker 2: you won't get approved, then you know, don't waste your time,

891
00:43:14,200 --> 00:43:17,640
Speaker 2: don't risk don't risk your credit by you know, fully applying.

892
00:43:17,920 --> 00:43:19,880
Speaker 2: But if you get a you know, you get pre qualified,

893
00:43:19,960 --> 00:43:22,440
Speaker 2: then you could go ahead and apply and they'll give

894
00:43:22,440 --> 00:43:24,239
Speaker 2: you a sense of what rate you might qualify for.

895
00:43:24,360 --> 00:43:26,080
Speaker 2: And that's how it's a good. It's good to just

896
00:43:26,120 --> 00:43:29,040
Speaker 2: shop around like that and compare your options when it

897
00:43:29,040 --> 00:43:31,799
Speaker 2: comes to personal loans. You may even want to use

898
00:43:31,800 --> 00:43:34,800
Speaker 2: that personal loan to you know, after you take Tiffany's

899
00:43:34,800 --> 00:43:37,279
Speaker 2: advice and try and negotiate down the bill. If it's

900
00:43:37,280 --> 00:43:39,440
Speaker 2: in collections, they may be willing to settle for less.

901
00:43:39,920 --> 00:43:42,200
Speaker 1: Yes, And that's what I mean by negotiating down because

902
00:43:42,320 --> 00:43:45,800
Speaker 1: that if it's if you haven't paid, they just want something.

903
00:43:46,080 --> 00:43:49,400
Speaker 1: And you know in hospitals are I found are just

904
00:43:49,640 --> 00:43:52,000
Speaker 1: way more flexible with accepting less.

905
00:43:53,560 --> 00:43:56,640
Speaker 2: Yeah. Absolutely, But that personal loan, like if you weren't

906
00:43:56,640 --> 00:43:59,000
Speaker 2: able to often when you settle your medical debt, they

907
00:43:59,080 --> 00:44:01,120
Speaker 2: might want everything, even if you're settling it for half.

908
00:44:01,160 --> 00:44:02,799
Speaker 2: So you have eighty one hundred dollars, let's say they

909
00:44:02,800 --> 00:44:05,040
Speaker 2: want you settle it for four thousand. They still want

910
00:44:05,080 --> 00:44:08,080
Speaker 2: you to give them four thousand right away. Yeah, so

911
00:44:08,120 --> 00:44:09,600
Speaker 2: a you know, you have to weigh the pros and

912
00:44:09,640 --> 00:44:13,360
Speaker 2: cons if you're gonna, you know, possibly take out a

913
00:44:13,360 --> 00:44:16,680
Speaker 2: a personal loan to pay off that debt. Will you

914
00:44:16,760 --> 00:44:20,520
Speaker 2: be able to make your personal loan payments and or

915
00:44:20,560 --> 00:44:22,680
Speaker 2: will it become another burden for you. You have to

916
00:44:22,800 --> 00:44:25,160
Speaker 2: figure out what you can afford. But the beauty of

917
00:44:25,160 --> 00:44:27,200
Speaker 2: a personal loan is that it's a fixed term. It's

918
00:44:27,200 --> 00:44:29,520
Speaker 2: not like a credit card where you can just keep

919
00:44:29,760 --> 00:44:31,759
Speaker 2: drawing on it and interest keeps accruing and you never

920
00:44:31,760 --> 00:44:33,600
Speaker 2: make any progress. A personal loan, they're going to tell

921
00:44:33,640 --> 00:44:35,600
Speaker 2: you you have three years, you have five years, you

922
00:44:35,640 --> 00:44:39,440
Speaker 2: have seven years for your repayment. And here's here's your

923
00:44:39,480 --> 00:44:42,640
Speaker 2: monthly fee. It's your monthly payment that's not going to

924
00:44:42,719 --> 00:44:45,719
Speaker 2: change either. It's all fixed so you don't have to

925
00:44:45,760 --> 00:44:49,319
Speaker 2: worry about interest rates changing or whatever, and you'll know, hey,

926
00:44:49,360 --> 00:44:51,719
Speaker 2: in three years, I'm going to have paid off this

927
00:44:51,760 --> 00:44:52,960
Speaker 2: personal loan and be done with it.

928
00:44:53,520 --> 00:44:53,719
Speaker 1: Yeah.

929
00:44:54,160 --> 00:44:57,160
Speaker 2: I just talked to some guy who consolidated his loan

930
00:44:57,239 --> 00:44:59,640
Speaker 2: through so far and he was like, damn, I just

931
00:44:59,719 --> 00:45:04,160
Speaker 2: the mental like, uh, the psychological impact of just having

932
00:45:04,160 --> 00:45:07,000
Speaker 2: that one debt instead of several debts and then knowing

933
00:45:07,040 --> 00:45:09,040
Speaker 2: I'm going to pay it off, you know, at three

934
00:45:09,080 --> 00:45:13,560
Speaker 2: years is my finish line, and HM really really helps him.

935
00:45:13,760 --> 00:45:17,239
Speaker 1: So tackle them into individually, you know. And I always like,

936
00:45:17,280 --> 00:45:19,680
Speaker 1: when I am tackling like financial things, to go with

937
00:45:19,760 --> 00:45:21,680
Speaker 1: the easier thing first because then it gives you a

938
00:45:21,680 --> 00:45:24,440
Speaker 1: little momentum. So definitely I would start with the hospital

939
00:45:24,480 --> 00:45:27,320
Speaker 1: because it's like, if you get that, it'll give you,

940
00:45:27,320 --> 00:45:29,560
Speaker 1: you know, the boost that you'll need to like tackle

941
00:45:29,600 --> 00:45:30,920
Speaker 1: the things that are a little bit harder.

942
00:45:31,800 --> 00:45:35,799
Speaker 2: Absolutely, all right, Amora, I hope that was helpful. Again,

943
00:45:35,840 --> 00:45:39,440
Speaker 2: If you guys, you know, have questions, absolutely send them

944
00:45:39,440 --> 00:45:44,480
Speaker 2: to us Brand Ambition Podcast at gmail dot com dot com.

945
00:45:44,560 --> 00:45:49,200
Speaker 2: And that's all she wrote, well, I do have a win.

946
00:45:49,800 --> 00:45:52,360
Speaker 2: Oh okay, fine, I'm tired, but I know, just a

947
00:45:52,400 --> 00:45:52,799
Speaker 2: quick thing.

948
00:45:52,960 --> 00:45:58,080
Speaker 1: So there is there's a book that just came out

949
00:45:58,600 --> 00:45:59,960
Speaker 1: called Children of Blood.

950
00:46:00,400 --> 00:46:02,440
Speaker 2: Have you heard Mandy is scary?

951
00:46:03,080 --> 00:46:04,320
Speaker 1: No? No, it's a.

952
00:46:04,320 --> 00:46:06,400
Speaker 2: Religious It could either be scary or religious.

953
00:46:06,719 --> 00:46:10,720
Speaker 1: No. So it's written by this Nigerian American writer who

954
00:46:10,760 --> 00:46:13,240
Speaker 1: for years has been trying to get like this book published.

955
00:46:13,280 --> 00:46:16,840
Speaker 1: It's like, I guess from what I understand, it's Harry

956
00:46:16,880 --> 00:46:21,880
Speaker 1: Potter based in West Africa. So it's magic. Yeah, it's magic.

957
00:46:21,960 --> 00:46:23,759
Speaker 1: It's yeah. I know. I was so excited. So I

958
00:46:23,760 --> 00:46:27,560
Speaker 1: saw her on Good Morning America. She was so excited that,

959
00:46:27,640 --> 00:46:30,719
Speaker 1: you know, that her baby had come to life. Her

960
00:46:30,719 --> 00:46:33,000
Speaker 1: parents were on there with her, her father, they were beaming,

961
00:46:33,360 --> 00:46:35,120
Speaker 1: and it was just such a delightful interview of this

962
00:46:35,160 --> 00:46:40,799
Speaker 1: young woman named Tomy Adayemi. And she's Nigerian and she

963
00:46:40,960 --> 00:46:43,520
Speaker 1: just has always loved to write. She teaches I guess,

964
00:46:44,440 --> 00:46:47,680
Speaker 1: I guess creative writing in San Diego. But she just

965
00:46:47,760 --> 00:46:50,000
Speaker 1: loved to write. And she's gone. She's a Harvard graduate

966
00:46:50,440 --> 00:46:54,000
Speaker 1: and just started writing and everyone told her no, no, no, no,

967
00:46:54,640 --> 00:46:57,640
Speaker 1: and finally she got her yes. And this is part

968
00:46:57,640 --> 00:46:59,120
Speaker 1: of a series of books that are going to come

969
00:46:59,160 --> 00:47:03,080
Speaker 1: out about this this this character. It's a young woman,

970
00:47:04,160 --> 00:47:09,640
Speaker 1: young girl who is has a magical lineage. But the

971
00:47:10,000 --> 00:47:12,319
Speaker 1: I guess the country where she lives, they tried to

972
00:47:12,360 --> 00:47:14,439
Speaker 1: stamp out magic and she's trying to bring it back.

973
00:47:14,560 --> 00:47:16,439
Speaker 1: So it's like the journey for her trying to bring

974
00:47:16,480 --> 00:47:18,880
Speaker 1: it back. I've only read, like maybe I would like

975
00:47:18,960 --> 00:47:21,160
Speaker 1: I read a little last night because I I got

976
00:47:21,239 --> 00:47:23,000
Speaker 1: it to my kindle and I was already like, oh

977
00:47:23,000 --> 00:47:25,719
Speaker 1: my gosh, I cannot wait. But what I love is

978
00:47:25,760 --> 00:47:29,000
Speaker 1: that it's you know, it's rich with culture in Africa

979
00:47:29,160 --> 00:47:32,279
Speaker 1: and and just it's it's beautifully written. And she got

980
00:47:32,280 --> 00:47:36,640
Speaker 1: a seven figure multi book deal, which is I think

981
00:47:36,680 --> 00:47:38,759
Speaker 1: the highest from what I remember from the interview on

982
00:47:38,960 --> 00:47:41,760
Speaker 1: Good Murning America is the highest, one of the highest,

983
00:47:41,760 --> 00:47:44,680
Speaker 1: like you know book deals for for for first of all,

984
00:47:44,680 --> 00:47:49,839
Speaker 1: it's it's you don't often get to read about brown characters.

985
00:47:50,280 --> 00:47:52,880
Speaker 1: And what what what genre would you say, Harry Potter

986
00:47:52,960 --> 00:47:53,560
Speaker 1: is it's.

987
00:47:53,440 --> 00:47:55,800
Speaker 2: Like, oh, fantasy fiction.

988
00:47:56,719 --> 00:47:58,560
Speaker 1: Yeah, that kind of like you know, you don't really

989
00:47:58,560 --> 00:48:01,040
Speaker 1: get to read that often. And so the book is

990
00:48:01,080 --> 00:48:03,560
Speaker 1: doing really well. The reviews have been amazing and the

991
00:48:03,560 --> 00:48:05,680
Speaker 1: book itself, from what I've read this far, I've been

992
00:48:05,719 --> 00:48:08,480
Speaker 1: really enjoying it. And you have to look at the

993
00:48:08,520 --> 00:48:11,560
Speaker 1: cover art. It is absolutely breathtaking and beautiful. And so

994
00:48:11,600 --> 00:48:13,319
Speaker 1: I just want my win to be for you, miss

995
00:48:13,400 --> 00:48:16,759
Speaker 1: Tony Adam. I'm proud of you. Children of Blood and

996
00:48:16,840 --> 00:48:20,800
Speaker 1: Bone and yeah, I just Harry Potter but in Africa,

997
00:48:20,920 --> 00:48:23,560
Speaker 1: and I just was like, this is amazing. Oh and

998
00:48:24,080 --> 00:48:26,239
Speaker 1: she already got optioned for a movie. A movie is

999
00:48:26,280 --> 00:48:28,360
Speaker 1: going to be produced based upon this first book. I'm like,

1000
00:48:28,360 --> 00:48:29,040
Speaker 1: this is amazing.

1001
00:48:30,040 --> 00:48:31,479
Speaker 2: Oh no way, what's it called again?

1002
00:48:32,040 --> 00:48:34,839
Speaker 1: It's called Children of Blood and Bone.

1003
00:48:35,440 --> 00:48:37,879
Speaker 2: Children of Blood and Bone Out. It's already out.

1004
00:48:38,160 --> 00:48:40,200
Speaker 1: It's already out. It's already on Amazon. That's why I

1005
00:48:40,200 --> 00:48:41,920
Speaker 1: got mine. I got the Kindle version because I was like,

1006
00:48:41,920 --> 00:48:44,080
Speaker 1: I can't wait for the book to physically come wow

1007
00:48:44,880 --> 00:48:45,400
Speaker 1: mm hmm.

1008
00:48:45,600 --> 00:48:48,360
Speaker 2: I love it all right, my wind. So I'm from Georgia,

1009
00:48:48,400 --> 00:48:51,080
Speaker 2: and you guys know this Georgia girl. I still like

1010
00:48:51,280 --> 00:48:53,080
Speaker 2: living in New York, I always feel like, man, I'm

1011
00:48:53,080 --> 00:48:54,680
Speaker 2: going to go vote, but also like I'm in a

1012
00:48:54,680 --> 00:48:58,320
Speaker 2: blue state. My vote isn't that significant. But in Georgia, Georgia,

1013
00:48:58,400 --> 00:49:01,120
Speaker 2: is like, really it was always interesting place politically, but

1014
00:49:01,160 --> 00:49:03,359
Speaker 2: even now, I mean Atlanta was blue, but the whole

1015
00:49:03,360 --> 00:49:05,480
Speaker 2: state most of the state's red right, so most of

1016
00:49:05,520 --> 00:49:08,120
Speaker 2: the state's conservative. But I just want I still pay

1017
00:49:08,160 --> 00:49:10,520
Speaker 2: attention to Georgia politics, and I must give a shout

1018
00:49:10,520 --> 00:49:13,920
Speaker 2: out to Stacy Abrams, who could make history as the

1019
00:49:13,920 --> 00:49:19,800
Speaker 2: first African American governor in the entire United States. Yes,

1020
00:49:20,000 --> 00:49:22,080
Speaker 2: and she's actually it's actually a win for women too,

1021
00:49:22,120 --> 00:49:25,080
Speaker 2: because she's up against another woman, a white woman, but

1022
00:49:25,120 --> 00:49:28,879
Speaker 2: still a woman. Two women racing to be governor also

1023
00:49:28,960 --> 00:49:33,320
Speaker 2: named Stacy. Strangely enough, Stacy Abrams and Stacy Evans. Wow,

1024
00:49:34,280 --> 00:49:38,640
Speaker 2: it's like my mind's exploding. But she's getting so much interest.

1025
00:49:38,719 --> 00:49:41,240
Speaker 2: I mean, I think just the historic nature of her campaign.

1026
00:49:41,800 --> 00:49:43,279
Speaker 2: I didn't even know. I mean, I guess I did

1027
00:49:43,400 --> 00:49:48,320
Speaker 2: know that Georgia's never had an African American female governor.

1028
00:49:48,360 --> 00:49:51,080
Speaker 2: But I'm rooting for her because I don't know. Our

1029
00:49:51,200 --> 00:49:54,760
Speaker 2: leadership in Georgia has been not the greatest for people

1030
00:49:54,840 --> 00:49:57,080
Speaker 2: like myself. I must say. So, if you live in

1031
00:49:57,080 --> 00:49:58,839
Speaker 2: Georgia or you know someone who's in Georgia, tell them

1032
00:49:58,840 --> 00:50:02,000
Speaker 2: to pay attention to the Gubuna tooral race, check out

1033
00:50:02,000 --> 00:50:04,279
Speaker 2: the candidates, and just shout out to Stacy. No matter

1034
00:50:04,320 --> 00:50:07,880
Speaker 2: what happens to be the first would be would be huge.

1035
00:50:08,239 --> 00:50:11,040
Speaker 1: Yes, the four gubernatorial is just funny to me when

1036
00:50:11,040 --> 00:50:16,640
Speaker 1: you said it, that was like goober, because I'm five

1037
00:50:16,680 --> 00:50:20,480
Speaker 1: on the inside. So that was our show. I'm excited

1038
00:50:20,600 --> 00:50:22,839
Speaker 1: because we've got some great guests coming on. We don't

1039
00:50:22,840 --> 00:50:25,040
Speaker 1: have guests often, and Mandy and I were both like,

1040
00:50:25,080 --> 00:50:28,040
Speaker 1: that's because we like to only bring the best of

1041
00:50:28,080 --> 00:50:31,120
Speaker 1: the best, and and you know, like we're not trying

1042
00:50:31,160 --> 00:50:32,920
Speaker 1: to bring I mean, although it's nice to have like

1043
00:50:33,040 --> 00:50:36,520
Speaker 1: super well known people, we really want to focus on quality,

1044
00:50:36,640 --> 00:50:40,759
Speaker 1: awesome folks that are going to bring something you know

1045
00:50:40,840 --> 00:50:42,880
Speaker 1: that we can't bring to the table. So we're excited

1046
00:50:42,920 --> 00:50:44,960
Speaker 1: to start like rolling out some more people to come

1047
00:50:45,080 --> 00:50:45,960
Speaker 1: come chat with us.

1048
00:50:46,400 --> 00:50:49,640
Speaker 2: Yeah, so definitely look out for an episode with a guest.

1049
00:50:49,760 --> 00:50:52,759
Speaker 2: Art Steel a state a state attorney extraordinaire. So go

1050
00:50:52,760 --> 00:50:55,720
Speaker 2: ahead send us some questions you guys have about anything

1051
00:50:56,080 --> 00:50:59,440
Speaker 2: relating to a state planning end of life situations. What

1052
00:50:59,520 --> 00:51:02,640
Speaker 2: documents do I need? What are my beneficiaries any of

1053
00:51:02,640 --> 00:51:03,360
Speaker 2: those questions.

1054
00:51:03,800 --> 00:51:06,000
Speaker 1: What do I do with my parents? My grandma needs something.

1055
00:51:06,080 --> 00:51:07,520
Speaker 1: What do I do? You know that kind of thing

1056
00:51:07,560 --> 00:51:08,320
Speaker 1: that that's.

1057
00:51:08,120 --> 00:51:13,120
Speaker 2: Perfect exactly and again thanks thanks, thanks. Wait, I just

1058
00:51:13,480 --> 00:51:19,480
Speaker 2: I just had a stroke like that. The record just

1059
00:51:19,480 --> 00:51:20,560
Speaker 2: skipped in my brain.

1060
00:51:22,239 --> 00:51:25,320
Speaker 1: I'm like, okay, well we doing a little throng here, okay,

1061
00:51:26,400 --> 00:51:44,520
Speaker 1: am I