Speaker 1: It's time for the b a q a A to
Speaker 1: b a q a what you say, it'd be a
Speaker 1: q a just sit the nick the b a q
Speaker 1: a no man day today, y'all just got me. That's okay, girl.
Speaker 1: So if you have questions, we have answers. But remember
Speaker 1: we are not your mother, not your father, not your sister,
Speaker 1: but your frian. So that means I know your financial advisor,
Speaker 1: your doctor, your attorney. That means whatever advice I give,
Speaker 1: it's not only advice. It's just a grain of salt.
Speaker 1: So sue your grandma, not us, and leaning to the
Speaker 1: people that you pay for the final set. Okay. So
Speaker 1: if you have questions, you're gonna go to Brand Ambition
Speaker 1: Podcasts at gmail dot com or Brandhambition podcast dot com
Speaker 1: click contact us, or my favorite Brand Ambition podcast on
Speaker 1: Instagram sliding the dms, and we will answer as many
Speaker 1: questions as possible about money, about career, about business. We
Speaker 1: got two questions today. First one is from Doctor Divorce. Okay, Hello,
Speaker 1: beautiful ladies. I'm such a fan of your show and
Speaker 1: love the both of you so much. I'm got some
Speaker 1: law of your success. Thank you, girl. I divorced in
Speaker 1: twenty nineteen, and I'm still dealing with the financial aftermath. Yes,
Speaker 1: I'm finally approaching the settlement wow, the sale of two
Speaker 1: properties woof which will result in over two hundred thousand
Speaker 1: dollars for my share. I have been researching how to
Speaker 1: avoid property gains tax. But I'm not of real estate pro. Okay.
Speaker 1: I purchased the first home when I was single at
Speaker 1: twenty four years old, and later added my ex husband, Ah,
Speaker 1: she has a clown emoji and a crying emoji. That's
Speaker 1: not that doesn't make you a clown girl. He was married.
Speaker 1: So I'm feeling a little burned. I just want to
Speaker 1: make a good decision moving forward so that this money
Speaker 1: can grow. I'm now a single mother of one son.
Speaker 1: I'm currently about thirty thousand dollars and dad plus student loans.
Speaker 1: I have depleted all of my savings on legal fees.
Speaker 1: My plan is to contact a financial advisor. But in
Speaker 1: the meantime, can you ladies throw some ideas my way? Okay,
Speaker 1: I too, am not a real estate pro. What you
Speaker 1: are going to need, divorce doctor, divorce A is you
Speaker 1: absolutely you need two people. You need an accountant asap,
Speaker 1: and you need a financial advisor, because an accountant is
Speaker 1: going to be able to tell you, like how do
Speaker 1: you minimize capital gains tax? And that's when basically you've
Speaker 1: made money on an investment, you know, you sold your
Speaker 1: home and they are taxes that have to be paid.
Speaker 1: I don't know when you wrote this in, but you're
Speaker 1: gonna want to sit with a accountant and in conjunction
Speaker 1: with your financial advisor. So a great place to find
Speaker 1: a financial advisor. I actually started this free matching program.
Speaker 1: Go to is it your money I always forget I
Speaker 1: think it's your your money yep. Go to your moneymatch
Speaker 1: dot com? Oh oh child, want is it down? Maybe
Speaker 1: it's not your money match. Let's see is it my
Speaker 1: money match? No child? Ugh the ghetto. But by the
Speaker 1: time you you go, it should be up. I don't know.
Speaker 1: Well anyway, your moneymatch dot Com. Oh yeah, so it
Speaker 1: is your money match dot Com. But for some reason,
Speaker 1: my computer is saying it's down, which it should not
Speaker 1: be because it's on my website. They're playing. But go to
Speaker 1: your moneymatch dot com and you may make myself a list.
Speaker 1: You will be able to fill out this kind of questionnaire,
Speaker 1: a quick questionnaire, and it will match you up to
Speaker 1: three financial advisors based upon this kind of questionnaire and
Speaker 1: figuring out what do you need? Okay, hey, ba fan,
Speaker 1: we're gonna take a quick break and we'll be right back.
Speaker 1: So that is a good place to start looking for
Speaker 1: a financial advisor. We partner with this company called wealth
Speaker 1: Ramp to match you with certified financial planners only. That
Speaker 1: is key. Doctor Duvore said, you want to see s
Speaker 1: P c FP Certified financial Planner. What is that? A
Speaker 1: certified financial planner is the gold star for all financial advisors.
Speaker 1: I want you to think of a financial advisors like
Speaker 1: saying I'm a teacher. That's great, But a CFP is
Speaker 1: like saying I am a I am a what is
Speaker 1: it called? Like? Not just a teacher, I am a
Speaker 1: college professor with their doctorate. It is the top tier
Speaker 1: of teachers. Certified financial planner because one, they have to
Speaker 1: take all these tests and all these things. They also
Speaker 1: have to do continued education, and they have to be
Speaker 1: a fiduciary, which they really all have to be, which
Speaker 1: means they have to put you, put you first. I
Speaker 1: got to put you for solutions, right, and so yeah,
Speaker 1: you want a certify financial planner. But that's why I
Speaker 1: like working with Ralph Ramp. Get your money match, go
Speaker 1: to your moneymatch dot com because it's important that you
Speaker 1: know what questions the ask. So I give you all
Speaker 1: these free resources that even after you get matched, the
Speaker 1: questions to ask how to prepare? All that is free
Speaker 1: at your moneymatch dot com. Obviously, working with the financial
Speaker 1: planner is not free, but the tool that I give
Speaker 1: you is free, which is really things some things to consider.
Speaker 1: I personally don't like paying a financial planner as au M,
Speaker 1: which is assets under management that means they get a
Speaker 1: percentage of the assets they manage for you, because that
Speaker 1: gets to be very expensive. I'd rather pay out of pocket.
Speaker 1: You know. Also too, what I look like about certified
Speaker 1: financial planners is they don't sell you, like insurance and
Speaker 1: things like that. You don't want to financial planners that's
Speaker 1: going to be selling you stuff because that's a salesperson,
Speaker 1: not a certified financial planner, because oftentimes people will sell
Speaker 1: you things that are that will make money for them,
Speaker 1: like don't even come for me for you financial Advisor's girl,
Speaker 1: because my block game is strong, like whole life insurance,
Speaker 1: which is largely a poor fit for most people. You
Speaker 1: pay seven hundred dollars a month for a million dollar
Speaker 1: policy when you could be paying forty dollars a month
Speaker 1: for a term policy for thirty years as an average
Speaker 1: forty year one who doesn't smoke, and that six hundred
Speaker 1: and fifty sixty bucks you could be investing, you know.
Speaker 1: So so some financial advisors will be selling you that
Speaker 1: because they get so much money on the back end.
Speaker 1: They don't get much money with term. So that's why
Speaker 1: I want you a certified financial planner. They're not selling
Speaker 1: you anything. I prefer you pay out of pocket. You
Speaker 1: can pay monthly. You could even just pay for a plan,
Speaker 1: you know, like you don't even have to if you
Speaker 1: don't want to work with them for a year. You
Speaker 1: could just say how much to work with you for
Speaker 1: this particular situation. You know. Sometimes you they're like, oh,
Speaker 1: this is a three month process and it might cost you,
Speaker 1: say fifteen hundred, two thousand dollars or whatever. Just so
Speaker 1: you know the math. You could pay on the low
Speaker 1: end for financial plan if you are going to pay monthly,
Speaker 1: you're looking at like five hundred bucks a month. On
Speaker 1: the high end. I want to say, well, I don't
Speaker 1: know if this is not the highest but I'll tell
Speaker 1: you what I pay. Let me see calculated, because I
Speaker 1: pay about fifteen thousand dollars for the year. But my
Speaker 1: financial planner, certified financial planner, Ajulie doesn't just do me personally.
Speaker 1: She also does my businesses. So thousand for all of
Speaker 1: that divided by twelve o'kirl, fifteen thousand. I think I
Speaker 1: pay in fifteen thousand, give or take, divided by twelve.
Speaker 1: So for Angelie, that's twelve hundred and fifty dollars a month,
Speaker 1: which sounds like a lot. But she does the Liberatary Academy.
Speaker 1: In my business, she does the Budgetista, and she does me.
Speaker 1: So that's for all three of us. So yeah, so
Speaker 1: and so because of that, it's a write off for me.
Speaker 1: So that's on the super high end. Yeah. So that's
Speaker 1: what I would suggest for you to doctor divorce. And
Speaker 1: I wouldn't want you to make a move with the
Speaker 1: debt and the student loans until you sat with the
Speaker 1: planner because it's important to understand holistically your life and
Speaker 1: then they can help you decide with that two hundred thousand,
Speaker 1: what's the best way to reduce your taxes, to minimize
Speaker 1: your debt, and to move forward with your goals. Okay,
Speaker 1: all right, well we're gonna take a quick break and
Speaker 1: we're gonna be back with our second question. Y'all. We'll
Speaker 1: be back okay, and I'm back and black and sweating child.
Speaker 1: It is how under these lights, all of the lights. Okay,
Speaker 1: we got someone. So if you don't want us to
Speaker 1: say your name, please give us a fake name. So
Speaker 1: she said you would call me Sash. Okay. My husband
Speaker 1: and I have been married for five years and we
Speaker 1: have a three year old Okay. I have always made
Speaker 1: more money, which is very typical, like you know, people
Speaker 1: don't want to say, but many, many, many women make
Speaker 1: more money than their partners, and we split household bills
Speaker 1: equitably given the income difference estimated seventy thousand dollars for
Speaker 1: him versus one hundred and twenty five thousand dollars salary
Speaker 1: for me. Okay, So what she means by equitably, it
Speaker 1: just might mean like twenty percent of her income ghost
Speaker 1: to bills and twenty percent of his income ghost to bills,
Speaker 1: although the number might be different. Obviously it is. Unfortunately
Speaker 1: our match is becoming increasingly strained. Ooh, and feel that
Speaker 1: it may end. I'm sorry, to hear that while we
Speaker 1: work through counseling to see if we can work it out,
Speaker 1: I'm acutely aware that me making more may put me
Speaker 1: at a disadvantage in divorce. Okay, what steps would you
Speaker 1: recommend me to protect my savings that has been accumulating
Speaker 1: largely before our marriage and completely from my own money,
Speaker 1: Oh girl, In the event that the worst happens, I
Speaker 1: want to ensure I can provide for my child comfortably, hopeful,
Speaker 1: but pragmatic. So you're being really smart. Here's the thing.
Speaker 1: So when my late husband and Najerill got married, you know,
Speaker 1: I had already started the budgetist. I had already started
Speaker 1: the literature academy. So I had a prenup because I said,
Speaker 1: you know, although I loved him dearly, obviously that's why
Speaker 1: we get married. I said, if something were to happen,
Speaker 1: I didn't want that my businesses would be under fire,
Speaker 1: and so we had a prenumtial agreement. So, as a result,
Speaker 1: the prenumptial agreement basically stated that the stuff that I
Speaker 1: brought into the marriage before getting married belongs to me,
Speaker 1: when like my businesses and such, and the stuff that
Speaker 1: he brought into the marriage belonged to him, like you know,
Speaker 1: any money that he had set aside, and that anything
Speaker 1: that happened during the marriage belongs to both of us.
Speaker 1: And unfortunately, depending on where you live, that's likely going
Speaker 1: to be the case that even though you have savings
Speaker 1: from your own money when you're married, and no such
Speaker 1: thing as your own money unless you have a prenum
Speaker 1: stating that. This is my understanding. I'm not at a toorney.
Speaker 1: So here's what I would do. Hold on, let me
Speaker 1: go get the book. Actually have her with me. Who
Speaker 1: was perfect. Oh okay, so I have this book. I'm
Speaker 1: holding it up. If you're watching on YouTube, it would
Speaker 1: be helpful. It's called financially Lit by Deanie Torres. We
Speaker 1: actually had her on the show. Now here's the thing.
Speaker 1: Denice went through a divorce. She was making significantly more
Speaker 1: than her partner, and I would follow Denise J A
Speaker 1: N N E S E. Taurus. I would follow Denise. Oh,
Speaker 1: what is her name on? Her name is not? I
Speaker 1: can't remember what her name is on Instagram. I was
Speaker 1: just type in Jenny's torus. I can't remember what her
Speaker 1: name is on Instagram. No, that's not her. It's not
Speaker 1: Financially Lit Girl, What is your name? The Modern Latina's Guide?
Speaker 1: Oh lord, I can't remember. But anyway, Denise went through
Speaker 1: a divorce, it went in her favor. She, like you,
Speaker 1: was worried about those things. So I would follow her
Speaker 1: because I believe that she has created posts about how
Speaker 1: she was able to navigate financially and come out ahead
Speaker 1: despite you know, her making more money than her ex husband.
Speaker 1: So and I think she might have even created aside
Speaker 1: from her book Financially Lit, which I don't know if
Speaker 1: it's out yet, but it might be. I think she
Speaker 1: might have created some like tools and resources. But I
Speaker 1: would follow look through some of her posts, especially some
Speaker 1: of her later posts or her earlier posts, because she
Speaker 1: talked about it a lot. I might even hit her up.
Speaker 1: I'm not even gonna lie yeah and just say hey,
Speaker 1: do you have anything, because she would be the perfect
Speaker 1: person because she she was able to do so and
Speaker 1: do so perfectly. You know, we love the Latinas around
Speaker 1: here on the Brown Girls, So that's what I would do.
Speaker 1: But just know that money that you accumulated like separately,
Speaker 1: you know, like even while in the marriage, is considered
Speaker 1: probably meritable marriage property, like collectively together, So I think
Speaker 1: you are doing the smartest thing, which is to ask around.
Speaker 1: I would also engage potentially in an attorney to ask
Speaker 1: those things now too, because I too am pragmatic. That's
Speaker 1: why as much as I loved my husband, I'll know
Speaker 1: I love Superman down to the ground as much as
Speaker 1: I loved him, I had a free nup because I
Speaker 1: loved him so much. But I said, just in case,
Speaker 1: just in case. So because I said, I'm still pragmatic
Speaker 1: as well, because things happen. You can love somebody and
Speaker 1: it just not work out or whatever. So one I
Speaker 1: would be reaching out to an attorney just ask some
Speaker 1: questions to say, like what things I can do based
Speaker 1: upon your state, and then I would reach out to
Speaker 1: Janice torres on Ig. I would follow her with some
Speaker 1: of the things. Like I said, I'm almost positive when
Speaker 1: she was going through her things that she was like
Speaker 1: posting some tips and tricks, and if not, I was
Speaker 1: side on her DMS because she is super chill, super nice,
Speaker 1: super smart. Well, Sasha, I hope it does work out.
Speaker 1: Because marriages can certainly be hard work a lot of effort.
Speaker 1: It doesn't mean that just because something requires effort does
Speaker 1: not mean that it's not a good thing. You know.
Speaker 1: I pray that if you're wanting it to work out,
Speaker 1: that it does work out, that this is just a
Speaker 1: rough patch, if that's what you're wanting. But I also
Speaker 1: pray that if it doesn't work out, that you have
Speaker 1: prepositioned yourself for financial stability. You know. I don't think
Speaker 1: there's anything wrong with that. I know some people are like, oh,
Speaker 1: I'm here for life if you want a prenup, if
Speaker 1: you and oh girl bye. Like I said, I love
Speaker 1: my husband down to the ground. And we had a
Speaker 1: prenumptial agreement because I just said, God forbid anything happened,
Speaker 1: because anything can happen. God forbid anything can anything should happen.
Speaker 1: I want to make sure that I'm protected, my businesses
Speaker 1: are protected, and my future is protected. But it didn't
Speaker 1: mean he was left out. We built things together. That absolutely.
Speaker 1: We purchased homes together. We did, you know. And when
Speaker 1: I say together, most of the money that we purchased
Speaker 1: the homes with was me, not even most it was
Speaker 1: my husband. The money that he made, because he made
Speaker 1: significantly less than me, we put it toward the bills.
Speaker 1: And then the money that I made, we saved and
Speaker 1: we invested it, so our investment accounts we would have
Speaker 1: had to split fifty to fifty and the homes purchased.
Speaker 1: And I was okay with that because I said to myself, well,
Speaker 1: this happened during the marriage, but I was not okay
Speaker 1: with split in the business that I had created before
Speaker 1: him if something were to have happened. You know. So
Speaker 1: just like there's nothing wrong I think with being like
Speaker 1: smart about as a woman about your money. Like I said,
Speaker 1: I wish you well either way. If you have questions
Speaker 1: like Sasha that you want answered about business, about money,
Speaker 1: about career, about entrepreneurship, slide into the DMS brian A
Speaker 1: Vision podcast on ig Brianna Vision pot Cast at gmail
Speaker 1: dot com or go to a briannavisionpodcast dot com and
Speaker 1: click contact me. I hope this was helpful. Oh and
Speaker 1: I just wanted to say before I jump off. Oh man,
Speaker 1: So today is the last day for our amazing, amazing
Speaker 1: producer Emani. She is going off to greatness and she's
Speaker 1: gonna producing her own show. So we wish her well.
Speaker 1: She has been such a joy and a delight to
Speaker 1: work with. This is just you know, we have been
Speaker 1: just a stepping stone on her way to greatness. Honey,
Speaker 1: we wish Emney well, you know certain you can slide
Speaker 1: into DMS and tell her good luck on her future endeavors.
Speaker 1: And you know we got you Miney's phone number, so
Speaker 1: you know, you never know, we might have your money
Speaker 1: back on the show to be talking about her journey
Speaker 1: and such. Okay, all right, y'all until next week. Bye,