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Speaker 1: Welcome back, welcome back, welcome back, welcome back. We're back,

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Speaker 1: We're black, We're brown, ambition. Baby's back. Hey, hey, hey,

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Speaker 1: it's me Tippany a bunch ofiska and I'm welcoming you.

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Speaker 1: Mandy back. I hope you missed us on vacation. Thank you.

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Speaker 2: I was like, it was a whole new show. She

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Speaker 2: worked on a new intro when I was gone, was

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Speaker 2: gone for a few weeks.

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Speaker 1: Now, how was Baker?

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Speaker 2: It was everything I needed and too much more.

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Speaker 1: As the saw what all the eats, I'm like, oh

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Speaker 1: my gosh, I want that. Oh I want to eat

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Speaker 1: that too.

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Speaker 2: Baby really like the food in Portugal. Baby, let me

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Speaker 2: have all the seafood I wanted. I was very I

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Speaker 2: was like a like happy as a clam, No pun intended,

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Speaker 2: just love seafood.

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Speaker 1: Yeah.

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Speaker 2: It was great. And when I say, like too much,

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Speaker 2: we realize now that we have our baby at home,

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Speaker 2: our first baby, Molly, it's really hard to be gone

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Speaker 2: for two for more than two weeks, Like we were

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Speaker 2: towards the and we were like, we're still here, we need.

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Speaker 1: To go home.

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Speaker 2: A couple of my friends split up the dog sitting duty,

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Speaker 2: so shout out to them. For helping out, but it was, Yeah,

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Speaker 2: we missed her so much. And I mean luckily I

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Speaker 2: planned the trip in such a way that we started

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Speaker 2: off in a relaxing location, did all the crazy cities

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Speaker 2: in the middle, and then ended on the rea and

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Speaker 2: relaxing location. And we got back a couple of days

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Speaker 2: before the work week started, so we had time to

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Speaker 2: like do laundry, unpack I had. I was very proud

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Speaker 2: of myself because we took a cab ride from the

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Speaker 2: airport and it's a long ride, and I was like,

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Speaker 2: let me order. Let me make sure that I order

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Speaker 2: delivery groceries, like get groceries delivered to our doorsteps so

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Speaker 2: that they arrive before, like right the same time that

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Speaker 2: we do. When I got home, had grocery on the doorstep.

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Speaker 2: I had seamless delivered dinner.

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Speaker 1: Yeah.

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Speaker 2: Smart, expensive, but also I'm just like I have no

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Speaker 2: brain power I need and it really helped us like

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Speaker 2: ease into the transition of being back home. No grocery shopping.

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Speaker 1: I had a.

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Speaker 2: Cleaning lady come the next day to like to clean

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Speaker 2: the house. I should have had someone come to do laundry,

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Speaker 2: because like they were cleaning and I was doing laundry

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Speaker 2: all day. But uh no, that's good to be back.

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Speaker 1: Yeah, that's good. It looks beautiful. So you were in Portugal,

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Speaker 1: But where else did you go?

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Speaker 2: We just stayed in Portugal. We did four cities and

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Speaker 2: we started on this island called San Miguel, which is

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Speaker 2: in the this chain of islands called the Azores, which

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Speaker 2: I hadn't really heard of. If they're becoming more popular

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Speaker 2: now they're calling them like the Hawaii of the Atlantic

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Speaker 2: and whatnot, which I've never been to Hawaii. But they're

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Speaker 2: very different. I mean, they're just in the sense that

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Speaker 2: they have similar like geography. They were formed by volcanoes,

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Speaker 2: so there's like really beautiful volcanic lakes and hot springs

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Speaker 2: and thermal springs and just vistas on vistas. I mean

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Speaker 2: every place we went it was just another gorgeous scene.

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Speaker 2: And then we went to the capitol Lisbon, and then

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Speaker 2: and then to like a little wine like a little

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Speaker 2: bed and breakfast in the wine valley.

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Speaker 1: Lovely. Yeah, it looks awesome be Instagram. I'm like, wow,

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Speaker 1: it was just be beautiful. What made you choose Portugal

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Speaker 1: over like all the places to go?

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Speaker 2: I don't remember. I think I was trying to combine

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Speaker 2: somewhere that we hadn't been before with somewhere that I

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Speaker 2: felt was going to be really interesting, historical, beautiful, but

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Speaker 2: not wear us down, Like it wasn't going to be

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Speaker 2: the kind of place where we were going to be

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Speaker 2: running all over the place and really exhausted like it had.

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Speaker 2: We could take some scenic, you know, some scenic, relaxing

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Speaker 2: kind of time and not feel pressure to see everything,

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Speaker 2: you know. Yeah, And I don't know, I just decided.

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Speaker 2: And when I decided, I was just like, and we're

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Speaker 2: doing it.

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Speaker 1: I'm glad you did well.

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Speaker 2: We missed, yeah, I missed, Yeah, I missed being back,

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Speaker 2: but I kept we kept reminding ourselves like, this is

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Speaker 2: our last chance. This is like this is a baby moon.

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Speaker 2: We need to like enjoy this. We're never gonna, you know,

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Speaker 2: taking two weeks away from home, like considering how hard

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Speaker 2: it was to be away from Molly, our dog, who

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Speaker 2: is not a human at all except in my heart.

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Speaker 2: I can't imagine like taking so much time away and

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Speaker 2: having you know, a baby at home. So I'm glad

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Speaker 2: that we did it.

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Speaker 1: But honestly, there's lots of people like I know, my

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Speaker 1: friend Rihanna her daughter has been to like more country

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Speaker 1: than most countries than most adults. Like she traveled with her,

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Speaker 1: you know, her and her husband. Yeah, and it's over.

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Speaker 2: The same when you have a baby with you, it's different.

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Speaker 2: We saw there were families. We saw the families with

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Speaker 2: kids and like families with babies and with adolescents, you know,

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Speaker 2: dads with the babies strapped to their back, you know,

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Speaker 2: puffing and puffing up the hills. Like we were like

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Speaker 2: respect respect.

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Speaker 1: So trigger recession mourning? Did you see that? Did you

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Speaker 1: hear that?

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Speaker 2: What's I've seen all the headlines about, you know, the

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Speaker 2: pending recession, but what's a trigger recession warning?

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Speaker 1: Well, apparently so there is. So there are bonds. Everyone's aware,

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Speaker 1: Well if you're not aware, like you know, when people

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Speaker 1: talk about stocks and bonds, bonds are a vehicle with

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Speaker 1: which people invest. The government typically sells them to individuals

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Speaker 1: to raise money for public ventures, right man, they like

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Speaker 1: roads and all that kind of stuff.

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Speaker 2: Yeah, that's one of the treasury bonds are like the

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Speaker 2: most common form of bonds that are out there, and

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Speaker 2: they're seeing as more safe and stable investment than stocks exactly.

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Speaker 1: So typically the longer Like so when you purchase a bond,

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Speaker 1: you basically purchase it at discount and then you can

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Speaker 1: turn it in for the full rate. So liket say

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Speaker 1: you purchase a bond for ten dollars and then it

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Speaker 1: matures in five years and then you get back fifteen.

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Speaker 1: So typically the longer the government, the longer the period

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Speaker 1: of time before the bond matures, the higher the interest

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Speaker 1: rate that you earn. And what they found was the

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Speaker 1: ten year bond of the yield on the ten year

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Speaker 1: bond was actually lower than they yield on a two

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Speaker 1: year bond, which you know, realistically doesn't make sense because

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Speaker 1: why would you yield less on a bond where they're

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Speaker 1: holding your money longer. And they said, the last time

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Speaker 1: this happened was in two thousand and five, two years

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Speaker 1: before the recession started to really kick off. And so

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Speaker 1: I don't mean it doesn't mean that a recession is

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Speaker 1: happening in a year or two. But I mean that

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Speaker 1: was like the headline everywhere, and I just remember reading everywhere.

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Speaker 1: People were like messaging me and texting me like what

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Speaker 1: does this mean?

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Speaker 2: People are goiggling what's a bond.

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Speaker 1: Right? Or what? You know? Why? I mean, because I mean, honestly,

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Speaker 1: a ten year The yield on a ten year bond

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Speaker 1: should should not be lower than they yield on a

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Speaker 1: two year bond, because it just doesn't make sense, Like

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Speaker 1: that's the reason why people put their money in bonds

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Speaker 1: that for longer periods of time, because the benefit is

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Speaker 1: you get more money back. So if that's not so,

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Speaker 1: it's like, well, why would anybody invest your money long

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Speaker 1: term anyway? So it's supposed to be a pre recession

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Speaker 1: trigger warning that happened in two thousand and five, but

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Speaker 1: there were a lot of things that happened the last

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Speaker 1: major recession that are not necessarily happening now, Like we're

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Speaker 1: you know, people are not lending folks like literally there

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Speaker 1: were like waitresses who were getting with who are making

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Speaker 1: I don't know, fifteen thousand an hour, who were who

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Speaker 1: are being approved for mortgages for three hundred thousand dollar houses.

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Speaker 1: That's not happening now. So we're not in the same

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Speaker 1: situation because it wasn't it wasn't just that warning that

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Speaker 1: triggered the last recession. Really the last recession was triggered

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Speaker 1: because the housing bubble burst, and I don't think we're

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Speaker 1: in that same position again. But so regardless of a

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Speaker 1: recession is happening in a year or two or three

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Speaker 1: or four. I mean, no one knows really, but what

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Speaker 1: are some things that you can do now? So I

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Speaker 1: just wanted to kind of talk about that, like, hmm,

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Speaker 1: not that you can completely resession proof your life, but

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Speaker 1: did we learn anything from the last recession? And what

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Speaker 1: are some things that you should and could be doing

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Speaker 1: to put yourself in a position where if a recession

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Speaker 1: does happen, it's not as detrimental to you as it

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Speaker 1: was during the last resession because the last recession was whoa,

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Speaker 1: it was a doozy for me. So I'm just curious, like,

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Speaker 1: you know, what did you learn during the last resession?

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Speaker 1: And do you feel not recession proof, but at least

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Speaker 1: recession smarter.

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Speaker 2: Yeah? So, I mean I feel like people have predicting

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Speaker 2: the next recession for the last few years because I mean, historically,

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Speaker 2: what goes up must come down, right, So we've been

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Speaker 2: on this like upward trajectory, you know, crazy growth in

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Speaker 2: the US for so long. People are just waiting for

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Speaker 2: the other foot to drop, which it'll it will eventually happen, yes,

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Speaker 2: but you're right, I mean, and not to freak people

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Speaker 2: out like if you you know, really do you know,

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Speaker 2: go out there and read, you know, some articles and

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Speaker 2: get educated, because if you really read what economists are

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Speaker 2: saying is it's not going to be on the scale

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Speaker 2: of the two thousand and eight housing crisis. I mean,

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Speaker 2: there are you know, there are you know, safety measures

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Speaker 2: or safety like regulations in place that have really changed,

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Speaker 2: that have really trained things and made it, you know,

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Speaker 2: made it less likely that will have a recession in

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Speaker 2: the same way. But it could be like a more

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Speaker 2: mild recession than what we saw before, which is normal.

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Speaker 2: And so I guess for me being a millennial who

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Speaker 2: I read an article today that said millennials are having

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Speaker 2: PTSD from their recession days. With all this talk about

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Speaker 2: the recession, what I remember is because you know, I

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Speaker 2: lost my job. I moved to New York, I got

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Speaker 2: a job, and I lost it like two months later.

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Speaker 2: I had a hard time finding another job. I came

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Speaker 2: in finally took a job that I was wildly underpaid,

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Speaker 2: but I took it anyway, and I it took me

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Speaker 2: probably the next five to seven years to job hop

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Speaker 2: and skip around to the point where I had caught

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Speaker 2: up with where I really should have been salary wise,

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Speaker 2: and I do attribute that to the recession. How I

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Speaker 2: feel about this pending recession is one because I work

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Speaker 2: in a lot, Like a lot of people, you work

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Speaker 2: for companies. And one of the one of the reasons

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Speaker 2: that people are looking at and pointing to, Okay, recession

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Speaker 2: is coming is that if you if you look at

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Speaker 2: the number of companies and who are publishing their you know,

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Speaker 2: their earnings reports every quarter. They have to talk to

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Speaker 2: shareholders and they have to say what their company outlooks

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Speaker 2: are like. And a lot of them are being more

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Speaker 2: conservative or speaking more conservatively about the labor market, so

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Speaker 2: like speaking more conservative conservatively about their plans to hire

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Speaker 2: through the end of this year. And because of that,

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Speaker 2: like there's been concern about okay, well, companies are slowing

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Speaker 2: down hiring, like what does that mean for employers? And

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Speaker 2: there's like another sign where more there's been an uptick

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Speaker 2: in the number of companies finally bankruptcy and having layoffs

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Speaker 2: as a result. And I think if you're someone who

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Speaker 2: works for a you know you work for you know,

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Speaker 2: any employer, whether they're private or public, you are a

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Speaker 2: little you are at risk. You're at the mercy of

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Speaker 2: your company's own success and if they decide to whether

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Speaker 2: it's or they start to tighten up their hiring. They're

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Speaker 2: hiring plans for the year. If you're someone in the

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Speaker 2: past couple of years who has felt like, woo, I

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Speaker 2: can skip around and pick a knee job I want

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Speaker 2: because the market is so amazing and there's so many jobs,

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Speaker 2: which is how it's been in a lot of industries,

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Speaker 2: even including mine, Like there's been so many jobs that

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Speaker 2: that may slow down, so it may become like less

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Speaker 2: of a I don't know, like an employee's market to

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Speaker 2: like shop around for the perfect job and get negotiate

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Speaker 2: the crazy high salaries because all these companies are like

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Speaker 2: competing to get the best talent. That may slow down

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Speaker 2: a little bit. Yeah, I would say, like, I don't

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Speaker 2: think you should jump. I mean, I'm personally I'm not

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Speaker 2: a financial advisor or an investment advisor. I personally am

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Speaker 2: not getting out of the market. I'm thirty two years old,

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Speaker 2: I have a few decades ahead of me. If there's

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Speaker 2: a recession in my investments in my four to one

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Speaker 2: k for example, take a dive a little bit. I'm

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Speaker 2: based on what happened in the last recession, pretty confident

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Speaker 2: that they'll bounce back. In fact, all the investing I

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Speaker 2: did when I was twenty two, twenty three, twenty four

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Speaker 2: in those really lean recession years, Like, that's what I

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Speaker 2: talk about when I say how my money is working

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Speaker 2: for me now that I invested like ten years ago,

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Speaker 2: because it was the bottom of the market and it's

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Speaker 2: just grown so much. Not leaving the market. But what

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Speaker 2: I will say is, start sharing up your emergency fund,

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Speaker 2: Start shoring up your you know, well, what if the

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Speaker 2: what if I get laid off fund? Just have that

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Speaker 2: money set aside so you have peace of mind because

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Speaker 2: it's not entirely in your control. You know, your company's

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Speaker 2: your company's help.

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Speaker 1: I mean, I would also just suggest too, to just

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Speaker 1: manage your debt a little bit better. Yeah, yees. Definitely

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Speaker 1: having a lot of that during a recession is really

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Speaker 1: because here's the thing. Everybody wants to have money during

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Speaker 1: the recession. Ask me how I know they were all

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Speaker 1: calling me. Also, I feel like it's a little bit

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Speaker 1: tighter for financial companies, Like if you've got student loan debt,

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Speaker 1: if you've got credit card debt, I'm not suggesting throwing

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Speaker 1: all that you've got toward your debt. But if you're not,

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Speaker 1: if you don't kind of have like this active debt

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Speaker 1: plan in place, I would and just being a little

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Speaker 1: bit more proactive of like, you know what, I'm actually

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Speaker 1: not going to to finance that chair I really wanted,

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Speaker 1: I might say for it and buy it. So I

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Speaker 1: wouldn't enter into new debt unless it's absolutely necessary. And

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Speaker 1: I definitely would have an automated plan in place where

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Speaker 1: I'm like, Okay, my debt is being paid down, because

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Speaker 1: the lower your debt can be during the recession the better. Honestly,

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Speaker 1: during the recession too, cash is queen, So I mean

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Speaker 1: that's when things go on sale, quite honestly, like you'll

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Speaker 1: be I know. For me, one of the things I'm

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Speaker 1: keeping an eye out is one thing my husband I

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Speaker 1: want to do is we really would love to buy

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Speaker 1: because he does property management now for the city where

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Speaker 1: we live, and we would really love to buy a

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Speaker 1: smallish apartment building or complex. And so if a recession

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Speaker 1: does hit and housing prices drop some what or people

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Speaker 1: just thought are not going to have the income or

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Speaker 1: the funds to be able to purchase large pieces of

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Speaker 1: real estate like that, I want to make sure that

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Speaker 1: we could take advantage of that, you know. So that's

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Speaker 1: something that I'm keeping in mind of not being completely liquid,

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Speaker 1: meaning completely cash, but keeping that in mind, like stocking

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Speaker 1: away money that I can, I can take advantage of

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Speaker 1: a deal more quickly than having not having money as

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Speaker 1: liquid and and as as I guess, as readily available.

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Speaker 1: So I'm balancing what that looks like. I'm also leaning

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Speaker 1: into my financial planner. So I finally hired one Angelie.

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Speaker 1: We actually have our second meeting with her, I think

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Speaker 1: tomorrow or the day after tomorrow. Right now, we're in

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Speaker 1: like the collection phase of She wanted everything from my

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Speaker 1: husband's benefit employee handbook to I had to link all

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Speaker 1: of our accounts to whatever that back end office is.

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Speaker 1: So just even leaning into her, and this is one

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Speaker 1: of the one of the homeworks you just emailed me today,

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Speaker 1: and Angeliae, I'm a dealer, Well, is she really wants

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Speaker 1: to understand what our goals are, and like not just

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Speaker 1: my goals and not just his goals, but like our

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Speaker 1: goals individually and collectively, so that way she can really

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Speaker 1: advise us on Okay, based upon this, then you need

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Speaker 1: to be more liquid than maybe I would normally suggest

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Speaker 1: or based upon this Typanally, you really don't have enough

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Speaker 1: money in your retirement account. So I definitely would lean

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Speaker 1: into professional guidance, more so now than ever, especially if

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Speaker 1: you're worried about you're not being prepared during a recession.

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Speaker 1: So yeah, but I wouldn't freak out. I would go

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Speaker 1: about life as per per usual, but go about life

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Speaker 1: per usual, but be responsible, save a little more, pay

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Speaker 1: down your dad. Think to yourself, if things don't do

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Speaker 1: go on sale, what would I want to purchase that

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Speaker 1: could really set me up for a while later. And

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Speaker 1: make sure that you are a dope and hiable employee.

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Speaker 1: Is your is your resume tight? Does it look good?

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Speaker 1: Do you have your your your your people who you

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Speaker 1: can out to, who can give you references? Because if

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Speaker 1: your job does downside, are you are you easily able

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Speaker 1: to be hired someplace else because your your resume just

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Speaker 1: looks that good and you've got, like I said, really

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Speaker 1: great references. So those are some things that I would

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Speaker 1: just suggest. But yeah, they've been talking about recession is coming,

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Speaker 1: session is coming? What session is coming?

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Speaker 2: They just want to be the ones who stay at

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Speaker 2: the right moment. Yes, I told y'all.

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Speaker 1: But it's always good to like, you know, these are

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Speaker 1: these are like, you know, Yahoo Finance is a great

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Speaker 1: place to read Investopedia, CNBC. These are just like even, oh,

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Speaker 1: who is it robin Hood? So I use Robinhood. You

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Speaker 1: use Robinhood, right right, Mandy?

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Speaker 2: Yeah, I signed up for their snacks newsletter after your record.

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Speaker 1: I get that, and I like it because if so,

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Speaker 1: if you don't, if you're like all this seems like

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Speaker 1: mumbo jumbo, you know whatever. Inside out, robin Hood is

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Speaker 1: like an app that Mandy and I both used to

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Speaker 1: like buy stocks here and there, but it's not the

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Speaker 1: place where I put my retirement money. But what I

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Speaker 1: do like about robin Hood is that you can sign

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Speaker 1: up for their email newsletter, which they call robert Hood Snacks,

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Speaker 1: where they kind of break down these big meaty topics

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Speaker 1: into like easily digestible snacks so you can What I

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Speaker 1: love is that you could literally read like a line

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Speaker 1: or two, or you could dive deeper and eat the

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Speaker 1: whole meal. So I would just suggest that because I

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Speaker 1: enjoyed them, I read them regularly and if I feel

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Speaker 1: like diving deep, I will, And sometimes I'm like, hey,

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Speaker 1: I'm not really that interested, but I tried to. I

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Speaker 1: think you can get them as freaking as daily, but

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Speaker 1: at least I would sign up for some weekly stack

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Speaker 1: robinhood snacks.

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Speaker 2: Yeah, and just be informed. But the thing that Tiff

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Speaker 2: said the key for me. And you know what really

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Speaker 2: hurt people in the recession, including myself. Like I always

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Speaker 2: make the joke that when I got my first job,

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Speaker 2: I bought a mattress and an iPhone. I had no

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Speaker 2: money in the bank, I had no savings, I had

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Speaker 2: credit card debt and got I lost my job and

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Speaker 2: I was like on my butt and I was desperate,

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Speaker 2: had to file for unemployment benefits. So I said never again.

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Speaker 2: And what I mean is like making sure that I

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Speaker 2: don't have a ton of debt, or at least debt

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Speaker 2: that is unmanageable for me, and that I have liquid

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Speaker 2: assets like cash in the bank that I can tap

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Speaker 2: to give myself a cushion. And I'm so excited because

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Speaker 2: I was gonna do it for my boost. But I'll

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Speaker 2: just say it now. But we finally we took out

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Speaker 2: like last this time or I don't know, like the

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Speaker 2: fall of last year, we took out a zero percent

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Speaker 2: APR credit card to finance some of the like the

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Speaker 2: finishing touches for the house, because it made all of

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Speaker 2: sense in the world. And I thought, oh, I don't

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Speaker 2: want to tie up my cash if I don't have to,

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Speaker 2: and blah blah blah, and I realized I just personally

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Speaker 2: don't have because I think because of what I went

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Speaker 2: through during the recession, I have lost my tolerance for

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Speaker 2: any debt zero percent or otherwise. And I thought, we

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Speaker 2: finally paid it off this past week, so I am

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Speaker 2: like so freaking excited, like debt is gone, I'm debt free,

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Speaker 2: ugin and life is good once again. And to me,

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Speaker 2: debt free savings in the bank, a mortgage payment that

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Speaker 2: we can comfortably afford if one of us loses our

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Speaker 2: job like those you know, no car payments. We don't

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Speaker 2: have a car payment. That to me makes me feel

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Speaker 2: very secure if the worst were to happen. I mean,

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Speaker 2: of course, eventually we'd run out of money. We're not

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Speaker 2: like incredibly wealthy people, but we at least will not

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Speaker 2: be immediately like going insane, you know, and feeling really

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Speaker 2: vulnerable and that.

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Speaker 1: I'm not gonna lie. I feel like I can't take

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Speaker 1: my house. I know.

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Speaker 2: I'm jealous of that because they can't take my house.

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Speaker 1: But honestly, we I mean, looking back on that, it

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Speaker 1: probably was. It was definitely the best emotional choice for us.

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Speaker 1: I mean we probably could have made well. I mean,

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Speaker 1: we had to buy the house cash because the bank

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Speaker 1: wouldn't allow otherwise. But I mean, looking back at it now,

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Speaker 1: I'm sure we could have made a more savvy financial choice.

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Speaker 1: But I feel good knowing because my house was taken before,

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Speaker 1: and I'm like, never again the north.

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Speaker 2: Remember, you know, it's the emotions of it which matters too.

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Speaker 2: There's just because something is logical, you have to also

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Speaker 2: factor and what helps you sleep at night?

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Speaker 1: Yes, And I honestly I sleep like knowing that don't

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Speaker 1: have to worry about that, Like if anything happens, you know,

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Speaker 1: we can afford the taxes on this house yearly, you know.

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Speaker 2: So yeah, I'm gonna come live with you. Yes, No,

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Speaker 2: but as much as you can. Like the recession proof,

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Speaker 2: don't get you know, it's not about investing in the

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Speaker 2: market and picking the right stocks right now they're gonna survive. Like,

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Speaker 2: That's not how I look at it. It's it's saving

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Speaker 2: and paying off your debt, living beneath your means now,

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Speaker 2: So if something, if you had to get knocked down

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Speaker 2: a pay or two, it wouldn't destroy, you know, everything,

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Speaker 2: And take the headlines with the grain asal listen, I'm

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Speaker 2: in journalism. We got to make money somehow, y'all. And

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Speaker 2: with them clicks. So the click here the headline, the

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Speaker 2: more money we make. So everyone's scrambling to write about,

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Speaker 2: you know, the next big recession. But I give it

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Speaker 2: a week, it'll quiet down and.

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Speaker 1: Then something right, so they latch onto some other thing.

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Speaker 1: When they say millennials have the kyota the cotton swap industry,

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Speaker 1: is that true?

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Speaker 2: Did we do that?

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Speaker 1: No? I don't. I'm just like, because you know, they

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Speaker 1: tell you they always say millennials that y'all are always

427
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Speaker 1: killing every industry. They don't buy napkins, millennials don't buy vitios,

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Speaker 1: I don't buy nip clothes. I was, okay, So I

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Speaker 1: just thinks that's hilarious. So yeah, So I just wanted

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Speaker 1: to bring that up because I'm just like, you know,

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Speaker 1: with the with the with the chat and you might

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Speaker 1: have seen it. So I just wanted to make sure

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Speaker 1: that Nandy and I addressed it. Now it's time to

434
00:21:58,160 --> 00:21:59,800
Speaker 1: take our questions. I know, We had a really great

435
00:21:59,840 --> 00:22:01,919
Speaker 1: ques question today and I'm excited about it, so we

436
00:22:01,920 --> 00:22:04,840
Speaker 1: could dive deep into a question on if you have questions,

437
00:22:04,840 --> 00:22:06,280
Speaker 1: you can always take us up. We love them, we

438
00:22:06,320 --> 00:22:08,639
Speaker 1: love them, we love them. Sometimes you send them to

439
00:22:08,720 --> 00:22:12,399
Speaker 1: us via Instagram and our instagram is Manby will tell you.

440
00:22:12,520 --> 00:22:15,800
Speaker 2: At Brand Ambition Podcast on the ground. I was wondering

441
00:22:15,840 --> 00:22:18,720
Speaker 2: when you were to kick it to me our email

442
00:22:19,720 --> 00:22:22,480
Speaker 2: Brand Ambition Podcast at gmail dot com dot.

443
00:22:22,320 --> 00:22:24,520
Speaker 1: Com and you can always sit us at brand Ambition

444
00:22:24,600 --> 00:22:28,000
Speaker 1: podcast dot com and and just click ask what's anything

445
00:22:28,840 --> 00:22:30,080
Speaker 1: questions Mandra.

446
00:22:30,680 --> 00:22:32,879
Speaker 2: Yeah, so we had a couple of really good questions

447
00:22:32,880 --> 00:22:35,240
Speaker 2: today not related to the recession. But if you guys

448
00:22:35,280 --> 00:22:38,960
Speaker 2: do have questions, you know about recessions or you know investing,

449
00:22:39,040 --> 00:22:42,440
Speaker 2: you know, maybe we should get uh do another investing

450
00:22:42,440 --> 00:22:45,840
Speaker 2: episode specific to like recession proofing, because that's the true.

451
00:22:45,720 --> 00:22:48,959
Speaker 1: Yeah, buzzy an interview when we get interview my new angelie,

452
00:22:49,000 --> 00:22:51,040
Speaker 1: she's the dopest her and how on are cool? So

453
00:22:51,080 --> 00:22:53,800
Speaker 1: maybe we can interview my my financial advisor.

454
00:22:54,440 --> 00:22:57,359
Speaker 2: Yeah, free advice from tiffany'spangel advisor. Who doesn't love that?

455
00:22:58,920 --> 00:22:59,120
Speaker 1: Cool?

456
00:22:59,200 --> 00:23:01,919
Speaker 2: Let's start off with a question from listener Myra this

457
00:23:02,080 --> 00:23:05,840
Speaker 2: is a doozy, so I'm gonna try and but ultimately

458
00:23:05,880 --> 00:23:09,359
Speaker 2: it's about whether or not Myra should use a lump

459
00:23:09,480 --> 00:23:13,000
Speaker 2: sum settlement she got after a car accident to pay

460
00:23:13,000 --> 00:23:15,520
Speaker 2: off her student loan debt. So I'll just do a

461
00:23:15,560 --> 00:23:18,000
Speaker 2: quick recap. So Myra says, I was in a car

462
00:23:18,040 --> 00:23:21,280
Speaker 2: accident in twenty ten. In twenty fifteen, I was paid

463
00:23:21,280 --> 00:23:24,480
Speaker 2: out a settlement of one hundred and twenty nine thousand dollars.

464
00:23:24,760 --> 00:23:28,000
Speaker 2: I finished up grad school and had federal student loan debt,

465
00:23:28,000 --> 00:23:29,679
Speaker 2: but it never really occurred to me to use that

466
00:23:29,720 --> 00:23:32,760
Speaker 2: money to pay off that debt. Cut to now, since

467
00:23:32,840 --> 00:23:36,320
Speaker 2: graduate school, my student loans with interest have ballooned up

468
00:23:36,320 --> 00:23:39,720
Speaker 2: to ninety five thousand dollars, although in the last years

469
00:23:39,760 --> 00:23:42,080
Speaker 2: I've taken on side gigs and I've managed to bring

470
00:23:42,119 --> 00:23:45,840
Speaker 2: them down to seventy eight thousand dollars. And I'm just now,

471
00:23:45,920 --> 00:23:48,840
Speaker 2: because of all this interest, just now barely getting close

472
00:23:48,920 --> 00:23:54,119
Speaker 2: to putting money toward the principal loan balance. I'm knocking

473
00:23:54,119 --> 00:23:56,840
Speaker 2: down the student loans slowly, but it's really frustrating to

474
00:23:56,880 --> 00:23:59,920
Speaker 2: see that interest hurt is hurting the speed of my progress.

475
00:24:00,160 --> 00:24:02,720
Speaker 2: Right now, my loans have interest rates of six and

476
00:24:02,760 --> 00:24:04,960
Speaker 2: a half to seven and a half percent, so I'm

477
00:24:05,000 --> 00:24:08,600
Speaker 2: paying almost five hundred dollars a month on interest. But

478
00:24:08,680 --> 00:24:10,960
Speaker 2: for all the last few years, I've had this settlement

479
00:24:10,960 --> 00:24:13,080
Speaker 2: money that I've left in my checking account without knowing

480
00:24:13,119 --> 00:24:15,400
Speaker 2: what to do with it, and I've been missing out

481
00:24:15,440 --> 00:24:18,600
Speaker 2: on gaining any interest. Recently, I did learn about money

482
00:24:18,600 --> 00:24:21,040
Speaker 2: market accounts and moved it into an account that earns

483
00:24:21,080 --> 00:24:25,439
Speaker 2: two percent epy. I don't have any investment accounts, and

484
00:24:25,480 --> 00:24:27,960
Speaker 2: I only recently started to be more aggressive with my

485
00:24:28,040 --> 00:24:30,920
Speaker 2: four one K. So her question is should I pay

486
00:24:30,920 --> 00:24:33,480
Speaker 2: out my student loans in one lump sum and move

487
00:24:33,480 --> 00:24:37,240
Speaker 2: on with the settlement money or slowly pay them slowly

488
00:24:37,320 --> 00:24:39,480
Speaker 2: pay them out over the next few years and invest

489
00:24:39,480 --> 00:24:44,120
Speaker 2: some of the settlement money somehow. Is this I can

490
00:24:44,200 --> 00:24:47,520
Speaker 2: keep going and is the next step of financial advisor?

491
00:24:47,960 --> 00:24:49,960
Speaker 2: Or should I wait until my loans are paid off?

492
00:24:49,960 --> 00:24:53,159
Speaker 2: Thank you for your help, good amazing, lovely question.

493
00:24:53,640 --> 00:24:56,760
Speaker 1: Well, first quick question. She said her student loans are

494
00:24:56,760 --> 00:24:58,000
Speaker 1: federal student loans. Correct.

495
00:24:58,040 --> 00:25:00,679
Speaker 2: She says federal student loans, So her balance is around

496
00:25:00,760 --> 00:25:03,680
Speaker 2: seventy eight thousand dollars and they're at six and a

497
00:25:03,720 --> 00:25:05,880
Speaker 2: half to seven and a half percent interest right now?

498
00:25:06,440 --> 00:25:09,000
Speaker 1: All right, So first off, the bat, I know you

499
00:25:09,040 --> 00:25:11,920
Speaker 1: sent this question to me before, so I just wanted

500
00:25:11,920 --> 00:25:13,959
Speaker 1: to make sure because I remember doing this, but I

501
00:25:14,000 --> 00:25:16,720
Speaker 1: was like, do they still do this? So, because you

502
00:25:16,800 --> 00:25:19,439
Speaker 1: have that spread and their federal student loans, I would

503
00:25:19,480 --> 00:25:22,520
Speaker 1: consolidate them at the lower interust rate if you're able

504
00:25:23,480 --> 00:25:24,960
Speaker 1: and you can do that. You want to make sure

505
00:25:25,000 --> 00:25:30,480
Speaker 1: though you're consolidating them via direct consolidation loan like this

506
00:25:30,520 --> 00:25:33,240
Speaker 1: is something that the federal government will work with you

507
00:25:33,440 --> 00:25:36,600
Speaker 1: to do because you don't want to refinance them out

508
00:25:36,640 --> 00:25:39,720
Speaker 1: of federal student loan status. So their company is like

509
00:25:40,160 --> 00:25:45,840
Speaker 1: so Fi, which is a great company, but they would

510
00:25:45,880 --> 00:25:48,199
Speaker 1: make your if you refinance it with like a Sofi,

511
00:25:48,359 --> 00:25:51,280
Speaker 1: it would then be a private student loan, and then

512
00:25:51,280 --> 00:25:53,160
Speaker 1: you lose some of the protection that you get under

513
00:25:53,200 --> 00:25:57,400
Speaker 1: federal student loans, which is like deferment for barans, even forgiveness.

514
00:25:57,520 --> 00:26:01,760
Speaker 1: Even you're able to well. One, it takes much longer

515
00:26:01,800 --> 00:26:05,560
Speaker 1: to default on a federal student loan than a private loan. Two,

516
00:26:05,840 --> 00:26:09,160
Speaker 1: if you're sick, you've lost your job, there are things

517
00:26:09,160 --> 00:26:12,679
Speaker 1: that are in place to protect you against protect you

518
00:26:12,720 --> 00:26:14,720
Speaker 1: if you're not able to afford your student loans. So

519
00:26:15,200 --> 00:26:17,960
Speaker 1: I would see if I can get my interest rate

520
00:26:18,480 --> 00:26:20,679
Speaker 1: consolidate my student loans to get my interest rate to

521
00:26:20,760 --> 00:26:25,359
Speaker 1: the lower the lower federal loan interest rate that that

522
00:26:25,400 --> 00:26:27,960
Speaker 1: you're being offered. So I would start there to see

523
00:26:28,000 --> 00:26:30,760
Speaker 1: if one can you lower your monthly interest rate payment

524
00:26:30,800 --> 00:26:33,400
Speaker 1: of five hundred dollars even into like you know, four

525
00:26:33,520 --> 00:26:36,359
Speaker 1: or three by consolidating. So that's what I would do,

526
00:26:36,440 --> 00:26:39,720
Speaker 1: first things first, And I wouldn't put the lump sum toward.

527
00:26:39,800 --> 00:26:42,440
Speaker 1: It's so tempting to do that because me and Mandy

528
00:26:42,480 --> 00:26:44,639
Speaker 1: are so debt adverse. So you know, my hand is

529
00:26:44,640 --> 00:26:47,919
Speaker 1: itching to be like stut that student loan down with

530
00:26:47,960 --> 00:26:50,399
Speaker 1: all that money. But quite honestly, it's just not the

531
00:26:50,440 --> 00:26:54,720
Speaker 1: wise choice because one, your interest rates are pretty loan

532
00:26:55,040 --> 00:26:57,679
Speaker 1: as far as federal student loans go. I mean, I

533
00:26:57,720 --> 00:26:59,920
Speaker 1: know people who have interest rates nine percent or more.

534
00:27:00,960 --> 00:27:05,240
Speaker 1: But then you can earn that meaning that it would

535
00:27:05,280 --> 00:27:08,199
Speaker 1: behoove you to put that money to work. I know

536
00:27:08,240 --> 00:27:10,480
Speaker 1: you don't know how, but you can certainly hire someone

537
00:27:10,520 --> 00:27:13,159
Speaker 1: to help. It would behoove you to put that money

538
00:27:13,160 --> 00:27:18,400
Speaker 1: to work because you're likely going to earn more having

539
00:27:18,480 --> 00:27:22,359
Speaker 1: that money be earning money because it's invested than the

540
00:27:22,520 --> 00:27:25,440
Speaker 1: six percent or seven percent that that your student loan

541
00:27:25,520 --> 00:27:28,840
Speaker 1: is losing you, so you're likely to earn. I mean,

542
00:27:28,880 --> 00:27:30,600
Speaker 1: I think I can't remember what my last earning work.

543
00:27:30,720 --> 00:27:34,720
Speaker 1: I was just looking at my retirement account. I think

544
00:27:34,720 --> 00:27:36,800
Speaker 1: it was like up twelve percent, and I think even

545
00:27:36,840 --> 00:27:38,360
Speaker 1: the market is up twelve percent. I have to look.

546
00:27:38,600 --> 00:27:41,399
Speaker 1: But meaning that if I earn twelve percent but my

547
00:27:41,440 --> 00:27:44,760
Speaker 1: student loan is costing me six percent, I'm still up

548
00:27:44,800 --> 00:27:47,760
Speaker 1: six because I'm up six but the student loan brought

549
00:27:47,800 --> 00:27:50,480
Speaker 1: me down six But still you know, there is a

550
00:27:50,520 --> 00:27:53,720
Speaker 1: six percent difference, so I'm still earning. Like if your

551
00:27:53,760 --> 00:27:56,520
Speaker 1: student loans were like like a credit card and it's

552
00:27:56,520 --> 00:27:58,760
Speaker 1: like thirty percent, then I'm like focused on paying off

553
00:27:58,800 --> 00:28:01,359
Speaker 1: that credit card because it's what you owe to. The

554
00:28:01,400 --> 00:28:03,840
Speaker 1: credit card is super expensive. Right now, your student loans

555
00:28:04,200 --> 00:28:09,119
Speaker 1: are not super expensive, and you can certainly out earn

556
00:28:09,200 --> 00:28:12,080
Speaker 1: them with the interest from putting money aside for a

557
00:28:12,080 --> 00:28:14,800
Speaker 1: retirement or growing wealth. So that's just like the second

558
00:28:14,840 --> 00:28:18,080
Speaker 1: thing that I probably would. I don't know if she

559
00:28:18,080 --> 00:28:19,840
Speaker 1: has it doesn't sound like she kind of has a debt. Well,

560
00:28:19,960 --> 00:28:21,200
Speaker 1: does that sound like you have like a debt paid

561
00:28:21,240 --> 00:28:24,359
Speaker 1: on plan in place, so I would continue that. I

562
00:28:24,359 --> 00:28:25,960
Speaker 1: think one of the things the mistakes that we make,

563
00:28:26,000 --> 00:28:28,080
Speaker 1: because I know I've made this mistake, is that I

564
00:28:28,160 --> 00:28:33,320
Speaker 1: make debt free the focus versus learning and earning, and

565
00:28:33,440 --> 00:28:35,840
Speaker 1: if you learn and earn, it kind of leads to

566
00:28:35,880 --> 00:28:39,440
Speaker 1: debt free. So, like I just paid off my student

567
00:28:39,480 --> 00:28:42,480
Speaker 1: loan debt, I owed fifty thousand or fifty two thousand,

568
00:28:42,520 --> 00:28:46,000
Speaker 1: something like that, and I remember at one point I

569
00:28:46,040 --> 00:28:49,520
Speaker 1: was aggressively paying it down more so than investing in

570
00:28:49,520 --> 00:28:52,640
Speaker 1: my business, the Budgetista, and investing in learning. And so

571
00:28:52,720 --> 00:28:56,920
Speaker 1: when I finally said, okay, enough, Tiffany, you are focusing

572
00:28:57,000 --> 00:28:59,479
Speaker 1: so much energy on getting debt free, but you're not

573
00:28:59,600 --> 00:29:04,440
Speaker 1: growing wealth in any sort of way. So instead I

574
00:29:05,200 --> 00:29:08,440
Speaker 1: made my regular payments to my student loan debt, acknowledge

575
00:29:08,440 --> 00:29:10,240
Speaker 1: that they probably weren't going to go away anytime soon,

576
00:29:10,640 --> 00:29:13,800
Speaker 1: put the energy toward learning and earning. And then at

577
00:29:13,840 --> 00:29:16,560
Speaker 1: a point it took probably about five years when I

578
00:29:16,560 --> 00:29:19,000
Speaker 1: finally made that decision that I was able to actually

579
00:29:19,000 --> 00:29:21,000
Speaker 1: pay off my student loan debt in one lump sum

580
00:29:21,400 --> 00:29:25,360
Speaker 1: because I had earned so much the budget Nista that

581
00:29:25,400 --> 00:29:28,240
Speaker 1: I had more than enough in savings to be able

582
00:29:28,280 --> 00:29:31,720
Speaker 1: to do so, and so that's what I want. Would

583
00:29:31,800 --> 00:29:34,280
Speaker 1: like for the focus to be the focus to me.

584
00:29:35,200 --> 00:29:36,640
Speaker 1: I know, the focus was should I pay off my

585
00:29:36,640 --> 00:29:39,080
Speaker 1: student loan debt? To me, the focus should be what

586
00:29:39,080 --> 00:29:41,040
Speaker 1: should I do with this tremendous amount of money that

587
00:29:41,080 --> 00:29:42,720
Speaker 1: I have, which I'm proud of you for still having.

588
00:29:43,040 --> 00:29:44,520
Speaker 1: You know, what should I do with this tremendous amount

589
00:29:44,520 --> 00:29:46,720
Speaker 1: of money? How do I grow this money? Because you

590
00:29:46,760 --> 00:29:50,320
Speaker 1: can outpace with the student loan that is creeping up

591
00:29:50,320 --> 00:29:53,840
Speaker 1: to like, how do I grow this money to a

592
00:29:53,920 --> 00:29:57,400
Speaker 1: space and a place where I can effectively handle this

593
00:29:57,440 --> 00:30:00,200
Speaker 1: student loan debt and still have money left over? Is

594
00:30:00,240 --> 00:30:03,240
Speaker 1: the goal? How do you eventually pay down debt and

595
00:30:03,480 --> 00:30:05,760
Speaker 1: still have money left over that continues to grow.

596
00:30:06,840 --> 00:30:09,960
Speaker 2: Hm, I'm listening to you, and I'm like, I felt

597
00:30:10,000 --> 00:30:13,440
Speaker 2: I felt differently about her question. I felt I had

598
00:30:13,440 --> 00:30:18,479
Speaker 2: a different reaction. I think that I definitely agree on

599
00:30:18,520 --> 00:30:20,680
Speaker 2: the point that it may not make the most sense

600
00:30:20,720 --> 00:30:24,360
Speaker 2: to immediately eliminate her student loan debt and take the

601
00:30:24,400 --> 00:30:26,600
Speaker 2: line's share of her settlement money with it. So she's

602
00:30:26,640 --> 00:30:28,600
Speaker 2: got seventy eight K left that would leave her with

603
00:30:28,680 --> 00:30:33,440
Speaker 2: only like fifty K of her initial settlement, which is

604
00:30:33,480 --> 00:30:38,440
Speaker 2: not chump change, and it's still a sizable amount to

605
00:30:38,440 --> 00:30:43,400
Speaker 2: even start investing with. But at the same time, I agree,

606
00:30:43,880 --> 00:30:46,480
Speaker 2: and I also like, in my mind and this is

607
00:30:46,520 --> 00:30:50,960
Speaker 2: my personal mandy as a person with and I told

608
00:30:50,960 --> 00:30:55,320
Speaker 2: you earlier, I've you know, I've got I'm a verse

609
00:30:55,720 --> 00:30:58,200
Speaker 2: to debt emotionally, I have a hard time sleeping at

610
00:30:58,280 --> 00:31:01,320
Speaker 2: night if I have it. And you'll have to sort

611
00:31:01,360 --> 00:31:03,800
Speaker 2: of ask yourself to like, what what makes the most

612
00:31:03,840 --> 00:31:05,880
Speaker 2: financial sense and then what can what really helps me

613
00:31:05,880 --> 00:31:08,280
Speaker 2: sleep at night? And for me with her interest rates,

614
00:31:08,280 --> 00:31:10,680
Speaker 2: so six and a half percent, seven a half percent.

615
00:31:11,320 --> 00:31:15,720
Speaker 2: Typically when people talk about, you know, expected returns you

616
00:31:15,720 --> 00:31:18,880
Speaker 2: could get if you invested in the market, it's it's

617
00:31:18,920 --> 00:31:23,040
Speaker 2: based on historical returns. And you hear you see the

618
00:31:23,120 --> 00:31:25,640
Speaker 2: number seven or eight percent thrown around as like a

619
00:31:25,640 --> 00:31:29,160
Speaker 2: conservative estimate of how much you could stand to gain

620
00:31:29,200 --> 00:31:31,720
Speaker 2: if you invested in the market. Yes, in the past

621
00:31:31,720 --> 00:31:34,080
Speaker 2: few years, like especially you know, and I agree with

622
00:31:34,120 --> 00:31:36,800
Speaker 2: my investments, I have been earning like double digits, you know,

623
00:31:37,080 --> 00:31:40,880
Speaker 2: twice that much even you know, sometimes fifteen, sixteen, seventeen

624
00:31:40,920 --> 00:31:46,280
Speaker 2: percent annually. But that can change, and you can't always

625
00:31:46,320 --> 00:31:50,120
Speaker 2: guarantee that you will earn you know, double digit interest rates.

626
00:31:50,120 --> 00:31:51,960
Speaker 2: And we're sitting here just a minute ago talking about

627
00:31:51,960 --> 00:31:56,480
Speaker 2: the recession and it could be in the next year

628
00:31:56,640 --> 00:32:00,000
Speaker 2: that the market and especially the last this past few weeks,

629
00:32:00,000 --> 00:32:03,040
Speaker 2: it seems like the market has really been on a downturn.

630
00:32:03,080 --> 00:32:06,040
Speaker 2: And I, you know, I haven't I don't check my

631
00:32:06,080 --> 00:32:08,680
Speaker 2: four one K every day, but I guarantee you, because

632
00:32:08,680 --> 00:32:11,040
Speaker 2: I'm like ninety percent in the market, that my investments

633
00:32:11,080 --> 00:32:14,400
Speaker 2: have gone down in the last few weeks. So I like,

634
00:32:14,640 --> 00:32:16,880
Speaker 2: I only I'm like a little bit I feel more

635
00:32:16,880 --> 00:32:20,880
Speaker 2: cautious when it comes to saying, well, if you you know,

636
00:32:20,960 --> 00:32:23,560
Speaker 2: invest in the market, you'll definitely earn more than you

637
00:32:23,600 --> 00:32:26,040
Speaker 2: would like you would earn more in the market than

638
00:32:26,040 --> 00:32:28,680
Speaker 2: you would, say, by paying down your student loan debt,

639
00:32:28,760 --> 00:32:30,960
Speaker 2: because the rate six and a half seven and a

640
00:32:30,960 --> 00:32:33,120
Speaker 2: half percent is so close to what I typically hear

641
00:32:33,200 --> 00:32:37,160
Speaker 2: as like a you know, an average or typical expected

642
00:32:37,200 --> 00:32:39,479
Speaker 2: return in your investment. So for me, they're kind of like,

643
00:32:40,160 --> 00:32:42,680
Speaker 2: I'm like, I don't know, I mean, it's net net

644
00:32:42,720 --> 00:32:47,280
Speaker 2: around the same. But another thing that I'm thinking is

645
00:32:47,320 --> 00:32:50,960
Speaker 2: like with student loans, you know, with federal student loans,

646
00:32:51,000 --> 00:32:52,920
Speaker 2: you do have protections in place if you were to

647
00:32:52,960 --> 00:32:55,560
Speaker 2: fall on hard times, if you continued making your payments

648
00:32:56,520 --> 00:32:59,200
Speaker 2: with your side gig. You've already managed to pay off

649
00:32:59,200 --> 00:33:02,920
Speaker 2: twenty thousand dollars in the last few years by having

650
00:33:02,920 --> 00:33:06,280
Speaker 2: side gigs, which is really freaking impressive, it is. And

651
00:33:06,360 --> 00:33:09,440
Speaker 2: you resisted the temptation to blow your settlement to do that,

652
00:33:10,400 --> 00:33:12,560
Speaker 2: and I commend you for that. You've already proven that

653
00:33:12,720 --> 00:33:15,640
Speaker 2: you can aggressively paid on these loans. You've got seventy

654
00:33:15,720 --> 00:33:17,640
Speaker 2: eight K left. If you keep at this pace and

655
00:33:17,640 --> 00:33:19,520
Speaker 2: you're able to pay off twenty k per year for

656
00:33:19,560 --> 00:33:22,200
Speaker 2: the next four years, you could eliminate it on your own,

657
00:33:23,160 --> 00:33:26,640
Speaker 2: far ahead of what the standard you know, the you know,

658
00:33:26,800 --> 00:33:30,760
Speaker 2: the standard repayment plan or you know expectation is for

659
00:33:30,840 --> 00:33:34,400
Speaker 2: paying off your student loan debt. And if you were

660
00:33:34,960 --> 00:33:38,440
Speaker 2: able to stay as disciplined as you are aggressively paid

661
00:33:38,440 --> 00:33:41,120
Speaker 2: on your debt, I think there is a case to

662
00:33:41,160 --> 00:33:45,280
Speaker 2: be made for investing some of your settlement money. I

663
00:33:45,360 --> 00:33:47,720
Speaker 2: just don't want to, like, I just don't want I

664
00:33:47,760 --> 00:33:52,280
Speaker 2: definitely wouldn't feel comfortable like promising that you would earn

665
00:33:52,440 --> 00:33:56,360
Speaker 2: like more than that seven percent, then you would if

666
00:33:56,440 --> 00:33:59,480
Speaker 2: you then you would be paying on your student loans.

667
00:33:59,480 --> 00:34:01,280
Speaker 2: Like I'm I just can't. I just don't have a

668
00:34:01,280 --> 00:34:05,160
Speaker 2: crystal ball. I can't like really predict that much. But

669
00:34:05,200 --> 00:34:07,600
Speaker 2: it's not a bad it's certainly not a bad problem

670
00:34:07,640 --> 00:34:10,120
Speaker 2: to have. I encourage you. I mean, you've got your

671
00:34:10,120 --> 00:34:12,719
Speaker 2: money that you finally put at least in something. You

672
00:34:12,719 --> 00:34:15,640
Speaker 2: set a money market account earning two percent. Okay, that's

673
00:34:15,680 --> 00:34:16,400
Speaker 2: better than nothing.

674
00:34:16,680 --> 00:34:17,640
Speaker 1: Yeah.

675
00:34:17,719 --> 00:34:20,680
Speaker 2: I think it's a good idea for you to find

676
00:34:21,040 --> 00:34:24,200
Speaker 2: a financial planner because they can help you, doesn't you

677
00:34:24,239 --> 00:34:26,719
Speaker 2: know one hundred and twenty nine thousand dollars. If you

678
00:34:26,760 --> 00:34:28,719
Speaker 2: speak with a financial planner, the first thing they're going

679
00:34:28,800 --> 00:34:30,239
Speaker 2: to ask you, a good one anyway, is what are

680
00:34:30,280 --> 00:34:32,640
Speaker 2: your goals? What do you want to do with this money?

681
00:34:33,040 --> 00:34:35,440
Speaker 2: And they will help you put the money in different buckets,

682
00:34:35,480 --> 00:34:39,200
Speaker 2: different different types of savings and investment accounts that make

683
00:34:39,280 --> 00:34:41,919
Speaker 2: sense for the money. So they won't hopefully they won't

684
00:34:41,920 --> 00:34:43,560
Speaker 2: tell you to put all one hundred and twenty nine

685
00:34:43,640 --> 00:34:46,279
Speaker 2: k all in the market. They might say, Okay, what

686
00:34:46,320 --> 00:34:48,399
Speaker 2: do you need to live on for six months? We'll

687
00:34:48,440 --> 00:34:51,120
Speaker 2: set that aside in a regular savings account, which, by

688
00:34:51,120 --> 00:34:53,720
Speaker 2: the way, you can definitely earn two percent or close

689
00:34:53,800 --> 00:34:55,960
Speaker 2: to it at a you know, it's high yield savings account,

690
00:34:56,000 --> 00:34:57,880
Speaker 2: and that's going to be your emergency fund. Okay, then

691
00:34:57,920 --> 00:35:00,160
Speaker 2: we'll take the next chunk. Maybe we'll open up the

692
00:35:00,200 --> 00:35:02,520
Speaker 2: five year CD or a three year CD, and then

693
00:35:02,560 --> 00:35:04,520
Speaker 2: we'll take another chunk and we're going to invest that.

694
00:35:04,640 --> 00:35:06,680
Speaker 2: And you're in a in an IRA.

695
00:35:07,000 --> 00:35:09,359
Speaker 1: You know, I just don't want you to put I

696
00:35:09,400 --> 00:35:11,279
Speaker 1: just don't want you to put all of your money

697
00:35:11,280 --> 00:35:15,080
Speaker 1: toward one thing, right, Yeah, that's yes, that is I

698
00:35:15,120 --> 00:35:18,319
Speaker 1: think that's the over like overall think that's what Mandy

699
00:35:18,360 --> 00:35:20,520
Speaker 1: and ire Bull saying, maybe in different ways, but like

700
00:35:20,719 --> 00:35:23,879
Speaker 1: I don't think whether it's just all investing or all

701
00:35:23,960 --> 00:35:29,480
Speaker 1: debt or all savings. Of course I'm dying come back.

702
00:35:31,080 --> 00:35:33,040
Speaker 1: I just don't want you to put your money, you know,

703
00:35:33,080 --> 00:35:36,120
Speaker 1: all on one thing, because when it comes to money,

704
00:35:36,600 --> 00:35:40,280
Speaker 1: extremes rarely are are the way to go. So balance

705
00:35:40,320 --> 00:35:42,120
Speaker 1: and diversity is the way to go. Because Mandy's right,

706
00:35:42,120 --> 00:35:44,000
Speaker 1: if you have that, that's These are exactly the questions

707
00:35:44,000 --> 00:35:47,760
Speaker 1: that Angelie, my financial advisor, asked one what are your goals?

708
00:35:48,239 --> 00:35:50,000
Speaker 1: And based upon what are your goals are? What your

709
00:35:50,040 --> 00:35:51,880
Speaker 1: goals are? Then She took a temperature of where do

710
00:35:51,920 --> 00:35:54,320
Speaker 1: you currently stand, how much do you have set aside

711
00:35:54,400 --> 00:35:57,279
Speaker 1: for emergency? How much is in your retirement account? You know,

712
00:35:57,320 --> 00:35:59,120
Speaker 1: how much do you have for insurance? All these kind

713
00:35:59,160 --> 00:36:03,480
Speaker 1: of things, and then allocating I'm in a similar place. Well,

714
00:36:03,480 --> 00:36:06,359
Speaker 1: I mean, I don't have debt, but I've got like

715
00:36:06,400 --> 00:36:08,799
Speaker 1: a chunk of money kind of just sitting in a

716
00:36:08,840 --> 00:36:11,600
Speaker 1: savings account. And so now we haven't even moved it.

717
00:36:11,600 --> 00:36:15,040
Speaker 1: It's just what are your goals? Where do you currently stand?

718
00:36:15,239 --> 00:36:18,080
Speaker 1: And now let's kind of put these things into into

719
00:36:18,280 --> 00:36:20,480
Speaker 1: into different buckets. I just don't want Yeah, I just

720
00:36:20,840 --> 00:36:23,080
Speaker 1: I know, any financial advisor worth your salt is not

721
00:36:23,080 --> 00:36:26,200
Speaker 1: going to tell you one this lump sum should go here,

722
00:36:26,280 --> 00:36:28,759
Speaker 1: and this huge lump sum should go or this huge

723
00:36:28,840 --> 00:36:31,600
Speaker 1: lump sum should go here. They're gonna say and and

724
00:36:31,600 --> 00:36:35,839
Speaker 1: and in and you know what I mean. So, but honestly, like,

725
00:36:36,160 --> 00:36:41,600
Speaker 1: what's the what's the listener's name? Mara Mayra is killing it?

726
00:36:41,600 --> 00:36:43,080
Speaker 1: First of all, the fact you still have like this

727
00:36:43,200 --> 00:36:46,400
Speaker 1: money basically, and that you've paid down twenty thousand, I mean,

728
00:36:46,840 --> 00:36:48,960
Speaker 1: you are ahead of the game, Mara. So I don't

729
00:36:48,960 --> 00:36:51,600
Speaker 1: want you to think like, oh man, I'm doing something wrong.

730
00:36:52,080 --> 00:36:54,319
Speaker 1: You're you're more right than most people will ever get

731
00:36:54,320 --> 00:36:56,520
Speaker 1: a chance to be. And so now I mean, and

732
00:36:56,560 --> 00:36:59,399
Speaker 1: you're moving costlessly and I totally get that. So yeah,

733
00:36:59,440 --> 00:37:01,520
Speaker 1: I mean, I'm I'm glad you reached out to us,

734
00:37:01,560 --> 00:37:03,879
Speaker 1: but now it's time to sit down with someone who

735
00:37:04,000 --> 00:37:07,320
Speaker 1: can intimately get to know your your financial and personal

736
00:37:07,360 --> 00:37:09,799
Speaker 1: life as to really see your finances and help you

737
00:37:09,840 --> 00:37:13,000
Speaker 1: make the best choices exactly.

738
00:37:13,640 --> 00:37:17,839
Speaker 2: Well, hopefully that was helpful. And you know, no one

739
00:37:17,880 --> 00:37:22,480
Speaker 2: size fit all answer, and I I think you're in

740
00:37:22,920 --> 00:37:24,680
Speaker 2: You're in good shape. But thank you for your question.

741
00:37:24,719 --> 00:37:26,600
Speaker 2: Thank you also for having my mother in law's name.

742
00:37:27,200 --> 00:37:33,759
Speaker 2: For a minute, I was like, is she no, no, no, no, no,

743
00:37:33,960 --> 00:37:37,399
Speaker 2: she doesn't speak English. All right, let's do one more question.

744
00:37:37,440 --> 00:37:40,120
Speaker 2: I'm going to pick up one from the gram. Did

745
00:37:40,160 --> 00:37:42,960
Speaker 2: you see this Instagram hoax going around? People are like

746
00:37:43,040 --> 00:37:46,919
Speaker 2: sharing this some this like Instagram post today about how

747
00:37:47,239 --> 00:37:50,520
Speaker 2: they have this new rule being released that says they

748
00:37:50,520 --> 00:37:52,920
Speaker 2: can take advantage because they can use all your photos

749
00:37:52,920 --> 00:37:54,960
Speaker 2: and publish them and your d ms and stuff like that.

750
00:37:55,000 --> 00:37:55,520
Speaker 2: It's a hoax.

751
00:37:55,560 --> 00:37:58,080
Speaker 1: Just FYI, you guys, I didn't see that. I've been

752
00:37:58,080 --> 00:38:01,759
Speaker 1: doing like a lot less like well, I don't know, yeah,

753
00:38:01,760 --> 00:38:05,440
Speaker 1: a lot less social media, I guess in lately in general,

754
00:38:06,040 --> 00:38:08,360
Speaker 1: I'm still like, you know, like on social media obviously,

755
00:38:08,400 --> 00:38:11,719
Speaker 1: but I'm not as heavily invested as I used to be, well,

756
00:38:11,760 --> 00:38:14,320
Speaker 1: at least not heavily invested, like in the same type

757
00:38:14,320 --> 00:38:17,160
Speaker 1: of Actually, I do a lot more like house design,

758
00:38:17,200 --> 00:38:20,560
Speaker 1: because I'm like, I just can't distress. I'm like, ooh, cats, dogs,

759
00:38:20,560 --> 00:38:22,759
Speaker 1: house design, my friend's vacations, and that's about it.

760
00:38:23,800 --> 00:38:26,719
Speaker 2: That's the healthy way to be here, because.

761
00:38:26,440 --> 00:38:28,480
Speaker 1: Sometimes I look at stuff and I'm like, oh my gosh,

762
00:38:28,480 --> 00:38:29,480
Speaker 1: why did I come on here?

763
00:38:29,680 --> 00:38:33,000
Speaker 2: Make it a safe space for you? Yeah, all right,

764
00:38:33,120 --> 00:38:37,840
Speaker 2: let's take a list of Instagram what's this person's name

765
00:38:38,440 --> 00:38:41,839
Speaker 2: from the gram? Okay at Bangora Party of three. It's

766
00:38:41,840 --> 00:38:45,160
Speaker 2: a cute Instagram name, all right, so he or she

767
00:38:45,239 --> 00:38:47,439
Speaker 2: I'm guessing it's so. She asks, Hey, ladies, I hope

768
00:38:47,440 --> 00:38:50,760
Speaker 2: you are well. I'm transitioning right now from corporate America

769
00:38:50,880 --> 00:38:53,239
Speaker 2: to becoming a stay at home mom. I have a

770
00:38:53,320 --> 00:38:56,160
Speaker 2: question regarding my retirement account. What's the best thing to

771
00:38:56,200 --> 00:38:58,000
Speaker 2: do with it? Should I cash it out? Should I

772
00:38:58,080 --> 00:39:01,120
Speaker 2: keep it where it is? I have no idea. Thank

773
00:39:01,160 --> 00:39:01,719
Speaker 2: you so much.

774
00:39:02,360 --> 00:39:02,960
Speaker 1: Good question.

775
00:39:03,000 --> 00:39:04,480
Speaker 2: I mean I'm saying she has no idea. I have

776
00:39:04,520 --> 00:39:11,480
Speaker 2: an idea. Don't cash it out, No, leave it. Leave it.

777
00:39:11,800 --> 00:39:14,800
Speaker 2: When you leave a job, you know you're often able

778
00:39:14,840 --> 00:39:18,160
Speaker 2: to just let your retirement savings stay there the company

779
00:39:18,200 --> 00:39:20,320
Speaker 2: that maybe the company and some companies may kick you

780
00:39:20,360 --> 00:39:22,120
Speaker 2: out or tell you have to roll it over to

781
00:39:22,280 --> 00:39:25,560
Speaker 2: another retirement account. You know that you open on your own.

782
00:39:25,920 --> 00:39:27,480
Speaker 2: But either way, either leave it where it is if

783
00:39:27,520 --> 00:39:30,520
Speaker 2: you can, or if you have to roll it, roll

784
00:39:30,520 --> 00:39:32,960
Speaker 2: it over to a new account. Go ahead and open up,

785
00:39:33,160 --> 00:39:36,440
Speaker 2: you know, a brokerage accountant like Vanguard or Tralish FOB

786
00:39:36,520 --> 00:39:38,719
Speaker 2: or something, and roll that puppy over and leave it.

787
00:39:39,680 --> 00:39:41,920
Speaker 2: You really don't want to take it out. One, if

788
00:39:42,000 --> 00:39:45,120
Speaker 2: you're under fifty, I'm gonna guess you're younger than fifty

789
00:39:45,200 --> 00:39:47,279
Speaker 2: nine and a half years old. And if you are,

790
00:39:47,480 --> 00:39:50,520
Speaker 2: if you withdraw that four one K money before that,

791
00:39:50,680 --> 00:39:53,520
Speaker 2: before that fifty nine and a half year mark, you

792
00:39:53,560 --> 00:39:55,960
Speaker 2: can get hit with early withdrawal penalties and you have

793
00:39:56,000 --> 00:40:00,759
Speaker 2: to pay taxes on that money right away. Yeah, so

794
00:40:01,200 --> 00:40:03,840
Speaker 2: don't do it. And you know, if you're becoming a

795
00:40:03,880 --> 00:40:06,239
Speaker 2: stay at home mom, you're giving up your income, so

796
00:40:06,400 --> 00:40:08,279
Speaker 2: you need you need that money to work for you

797
00:40:08,320 --> 00:40:11,200
Speaker 2: and continue working for you, which it can only do

798
00:40:11,239 --> 00:40:14,000
Speaker 2: if you leave it invested in the market. So that's

799
00:40:14,000 --> 00:40:14,800
Speaker 2: my two cents.

800
00:40:15,400 --> 00:40:18,719
Speaker 1: Honestly, I put my stamp of approval on that. That's

801
00:40:18,760 --> 00:40:22,080
Speaker 1: exactly leave it and do not withdraw. I mean, like

802
00:40:22,120 --> 00:40:24,280
Speaker 1: it's it doesn't sound like you were thinking about withdrawing

803
00:40:24,280 --> 00:40:27,040
Speaker 1: it because there was some sort of emergency, which you know.

804
00:40:27,120 --> 00:40:29,480
Speaker 1: Even then, I'm like, I mean, it's one of my

805
00:40:29,560 --> 00:40:32,080
Speaker 1: biggest I mean, it's a regret for me. But then

806
00:40:32,080 --> 00:40:33,920
Speaker 1: I'm like, well, maybe it helped to bring me where

807
00:40:33,920 --> 00:40:36,080
Speaker 1: I am now, But I think at the time I wouldn't.

808
00:40:36,200 --> 00:40:39,200
Speaker 1: The recession hit, I had about thirty thousand dollars or

809
00:40:39,200 --> 00:40:43,680
Speaker 1: maybe more and in my retirement account and I withdrew it.

810
00:40:44,360 --> 00:40:46,440
Speaker 1: So you get that hit hit with that ten percent

811
00:40:46,480 --> 00:40:49,759
Speaker 1: penalty plus taxes. So I lost like.

812
00:40:51,600 --> 00:40:57,000
Speaker 2: Thirty yes, thirty K became like twenty K eighteen K.

813
00:40:57,000 --> 00:40:59,360
Speaker 1: Of money did I put in? I might as well, like, yeah,

814
00:41:00,040 --> 00:41:02,799
Speaker 1: when money leaves like that, you think to yourself, if

815
00:41:02,840 --> 00:41:05,040
Speaker 1: I was gonna lose ten K anyway, I could have

816
00:41:05,080 --> 00:41:07,920
Speaker 1: gone on like a luxurious vacation, you know what I mean,

817
00:41:08,000 --> 00:41:10,480
Speaker 1: like if I'm gonna if I'm gonna trick up money

818
00:41:10,480 --> 00:41:13,160
Speaker 1: and lose it. But anyway, so I and I did

819
00:41:13,239 --> 00:41:16,080
Speaker 1: it to save my house that I eventually lost, so

820
00:41:16,120 --> 00:41:18,359
Speaker 1: it was like double like are you kidding me? So

821
00:41:19,880 --> 00:41:22,080
Speaker 1: it doesn't always work out me, I hear people sometimes

822
00:41:22,080 --> 00:41:24,560
Speaker 1: I hear like I feel like the new entrepreneurs. The

823
00:41:24,600 --> 00:41:26,080
Speaker 1: thing is that people will tell you like, take the

824
00:41:26,120 --> 00:41:28,319
Speaker 1: money out of your phone. I've heard people say take

825
00:41:28,360 --> 00:41:29,719
Speaker 1: the money out of your four and one K and

826
00:41:29,719 --> 00:41:32,640
Speaker 1: invest in your your your startup or your business. And

827
00:41:33,440 --> 00:41:36,440
Speaker 1: doesn't work out for some people. Absolutely? Does it work

828
00:41:36,480 --> 00:41:40,600
Speaker 1: out for most people? Absolutely not so to me, unless

829
00:41:40,600 --> 00:41:42,160
Speaker 1: it's like we don't know what we're gonna eat or

830
00:41:42,160 --> 00:41:44,320
Speaker 1: we don't know where we're gonna sleep. Then I tell people,

831
00:41:44,400 --> 00:41:47,120
Speaker 1: leave your leave your borrow one k alone. It's your

832
00:41:47,280 --> 00:41:50,440
Speaker 1: younger self's job to look after your older self, Like

833
00:41:50,840 --> 00:41:55,640
Speaker 1: you have the capability to earn money now in a

834
00:41:55,680 --> 00:41:59,400
Speaker 1: way that you're not able when you are elderly, So

835
00:41:59,520 --> 00:42:02,040
Speaker 1: don't I don't put the onus on your elderly self

836
00:42:02,160 --> 00:42:05,560
Speaker 1: to have to work the way you can now. So

837
00:42:05,640 --> 00:42:07,799
Speaker 1: do what you can now to avoid taking from your

838
00:42:07,800 --> 00:42:08,360
Speaker 1: old self.

839
00:42:09,360 --> 00:42:12,239
Speaker 2: Agreed, And I think that if you want to go back,

840
00:42:12,239 --> 00:42:14,440
Speaker 2: go to go back to episode one seventy one. We

841
00:42:14,520 --> 00:42:16,680
Speaker 2: interviewed for our news to Robbie and we talk about

842
00:42:16,719 --> 00:42:18,719
Speaker 2: the transition and what it means to be a stay

843
00:42:18,719 --> 00:42:20,920
Speaker 2: at home mom, and she has great tips for like

844
00:42:21,080 --> 00:42:23,640
Speaker 2: stay at home or people who leave moms who leave

845
00:42:23,680 --> 00:42:26,680
Speaker 2: the workforce and then are trying to transition back into

846
00:42:26,719 --> 00:42:28,960
Speaker 2: it or trying to prepare their finances to be out

847
00:42:28,960 --> 00:42:30,759
Speaker 2: of the workforce. So it's a good episode for you

848
00:42:30,800 --> 00:42:34,600
Speaker 2: to check out. Thank you guys for your questions. Again,

849
00:42:34,800 --> 00:42:38,400
Speaker 2: we're brand Ambision Podcasts on Instagram or we are Brandabisson

850
00:42:38,400 --> 00:42:42,040
Speaker 2: Podcasts at gmail dot com. I gotta say I love

851
00:42:42,040 --> 00:42:44,640
Speaker 2: those Instagram questions because people get tired after they type

852
00:42:44,680 --> 00:42:47,760
Speaker 2: all they text a lot, you know, so they're shorter.

853
00:42:49,560 --> 00:42:53,880
Speaker 2: So funny, but uh, just just an observation. But anyway,

854
00:42:53,920 --> 00:42:55,719
Speaker 2: you guys want to ask us questions, go for it.

855
00:42:56,880 --> 00:42:59,719
Speaker 1: So now it's time to boost a break with all

856
00:42:59,760 --> 00:43:03,759
Speaker 1: that family. Will you boost? Will you break? Which will

857
00:43:03,800 --> 00:43:04,840
Speaker 1: it be? Mandy?

858
00:43:05,320 --> 00:43:08,240
Speaker 2: I remember the song It's It's I like that jingle.

859
00:43:08,239 --> 00:43:13,160
Speaker 2: I hope I don't get sued by Disney, but it

860
00:43:13,200 --> 00:43:16,120
Speaker 2: hasn't happened yet. No one tells I'm gonna do a

861
00:43:16,200 --> 00:43:21,200
Speaker 2: quick boost. I under well a while back, I put

862
00:43:21,239 --> 00:43:24,160
Speaker 2: I think like last summer, I was we were moving

863
00:43:24,160 --> 00:43:26,239
Speaker 2: into the house and I realized I have and I

864
00:43:26,280 --> 00:43:28,000
Speaker 2: hate this. I hate that feeling when you open the

865
00:43:28,040 --> 00:43:30,760
Speaker 2: box and you're like all these basically brand new dresses,

866
00:43:30,880 --> 00:43:33,400
Speaker 2: brand new clothes that I never wore. I thought I

867
00:43:33,440 --> 00:43:35,600
Speaker 2: was gonna lose that five pounds. I thought it was

868
00:43:35,640 --> 00:43:37,640
Speaker 2: gonna look better once I got home. I didn't try

869
00:43:37,640 --> 00:43:39,160
Speaker 2: it on the store. Now I'm stuck with it, like

870
00:43:39,200 --> 00:43:41,319
Speaker 2: those clothes that are brand new that just end up

871
00:43:41,320 --> 00:43:43,480
Speaker 2: in your the bottom of a box. So I found

872
00:43:43,520 --> 00:43:46,640
Speaker 2: them and I listed them on Poshmark, and I just

873
00:43:46,680 --> 00:43:49,520
Speaker 2: forgot about it. And in the past like month or so,

874
00:43:49,760 --> 00:43:54,120
Speaker 2: I've sold like three dresses, a couple of old tops,

875
00:43:54,160 --> 00:43:57,040
Speaker 2: like and I made over one hundred dollars just from

876
00:43:57,120 --> 00:43:59,640
Speaker 2: selling this old junk on well not junk. It's nice stuff,

877
00:43:59,680 --> 00:44:00,280
Speaker 2: very nice stuff.

878
00:44:00,320 --> 00:44:01,160
Speaker 1: Check out my store on.

879
00:44:02,640 --> 00:44:06,880
Speaker 2: Quality, quality, quality only the best. We got Target, we

880
00:44:06,960 --> 00:44:13,839
Speaker 2: got coal, we got LULUs, high quality stuff. But yeah,

881
00:44:13,840 --> 00:44:15,640
Speaker 2: I'm just selling stuff. And I went through my and

882
00:44:15,680 --> 00:44:17,000
Speaker 2: I was like oh, let me go and check out,

883
00:44:17,000 --> 00:44:19,520
Speaker 2: because I haven't checked them so long. But I went

884
00:44:19,560 --> 00:44:23,040
Speaker 2: back to my closet, as I say on Poshmark, and

885
00:44:23,280 --> 00:44:25,000
Speaker 2: I was like, let me see what happens if I

886
00:44:25,040 --> 00:44:27,440
Speaker 2: reduced the price by like ten dollars for awless stuff.

887
00:44:27,760 --> 00:44:32,000
Speaker 2: And I guess anyone who's liked your like that item originally,

888
00:44:32,040 --> 00:44:34,440
Speaker 2: they'll send them an alert like, oh, you know, Mandy's

889
00:44:34,480 --> 00:44:37,640
Speaker 2: reduced the price of her whatever by ten dollars. And

890
00:44:38,200 --> 00:44:39,920
Speaker 2: that's how I sold, like, you know, a couple of

891
00:44:39,960 --> 00:44:42,120
Speaker 2: things this week, just by knocking the price down a

892
00:44:42,160 --> 00:44:45,000
Speaker 2: little bit. So not a bad way to make a

893
00:44:45,040 --> 00:44:47,440
Speaker 2: little bit of extra money. I have to stop thinking

894
00:44:47,480 --> 00:44:50,040
Speaker 2: about how much I lost, because definitely I'm selling them

895
00:44:50,080 --> 00:44:52,279
Speaker 2: for less than I paid for them, way less than

896
00:44:52,280 --> 00:44:54,600
Speaker 2: I paid for them. But whatever, better to get them

897
00:44:54,640 --> 00:44:56,840
Speaker 2: out of my house and in someone else's hands, in

898
00:44:56,880 --> 00:44:59,200
Speaker 2: a little bit of money in my pocket versus have

899
00:44:59,280 --> 00:45:00,920
Speaker 2: them just collect dust in a box.

900
00:45:02,680 --> 00:45:04,360
Speaker 1: No, I think got to great. My sisters just started

901
00:45:04,360 --> 00:45:07,319
Speaker 1: doing Postmark. I was wondering because my sister Tracy, who's

902
00:45:07,320 --> 00:45:09,440
Speaker 1: also my stylist, was like, Hey, let me help you

903
00:45:09,440 --> 00:45:11,400
Speaker 1: clean in your closet, and I had to, like, honestly,

904
00:45:11,520 --> 00:45:14,800
Speaker 1: some like great things that because Tiffany is a tomboy

905
00:45:14,840 --> 00:45:17,319
Speaker 1: and the Buganisa addresses more professionally. But so I had

906
00:45:17,320 --> 00:45:19,480
Speaker 1: some great stuff that I just don't wear anymore as

907
00:45:19,480 --> 00:45:21,800
Speaker 1: a bunchanisa because maybe I've worn it on TV already

908
00:45:22,680 --> 00:45:25,440
Speaker 1: or maybe like I have a headshot in it, and

909
00:45:25,480 --> 00:45:28,640
Speaker 1: you really just can't wear it over and over and

910
00:45:28,680 --> 00:45:33,440
Speaker 1: over what apparently she was postmarking. I was like, oh cute.

911
00:45:33,440 --> 00:45:34,880
Speaker 1: Oh so you've just been coming in here cleaning out

912
00:45:34,920 --> 00:45:37,480
Speaker 1: my closet. Yeah, She's like, I mean.

913
00:45:38,239 --> 00:45:40,160
Speaker 2: And walking away with the proceeds.

914
00:45:40,560 --> 00:45:44,759
Speaker 1: No, no, she so yeah, no, she told me later

915
00:45:44,840 --> 00:45:46,640
Speaker 1: and she's and I was like, honestly, it's fine, keep

916
00:45:46,680 --> 00:45:48,719
Speaker 1: it because these are things that I asked her to

917
00:45:48,760 --> 00:45:51,400
Speaker 1: come to clean out my closet and I was basically tossing.

918
00:45:51,719 --> 00:45:53,879
Speaker 1: So she'd always like, so you want me to toss it?

919
00:45:54,280 --> 00:45:56,120
Speaker 1: You want me to I can keep it. I was like, yes,

920
00:45:56,280 --> 00:46:00,239
Speaker 1: I could keep it, keep it. I'm like, yes, so there,

921
00:46:00,280 --> 00:46:04,319
Speaker 1: I think exactly, but no, but I think that that, Yeah,

922
00:46:04,360 --> 00:46:06,560
Speaker 1: it's just a great way. Like all my sisters honestly

923
00:46:06,600 --> 00:46:09,839
Speaker 1: do I'm the only one who doesn't. I'm like one

924
00:46:09,840 --> 00:46:13,279
Speaker 1: more things I played don't want it, So yeah, you.

925
00:46:13,320 --> 00:46:15,719
Speaker 2: Gotta remember to ship it. They'll be emailing you. You better

926
00:46:15,719 --> 00:46:17,680
Speaker 2: ship that. You better ship it. You better ship it.

927
00:46:17,760 --> 00:46:19,440
Speaker 2: They're gonna get they're gonna get their money back if

928
00:46:19,440 --> 00:46:20,000
Speaker 2: you don't ship it.

929
00:46:20,000 --> 00:46:22,759
Speaker 1: And I'm like, okay, the postmark well and the yeah,

930
00:46:22,800 --> 00:46:27,000
Speaker 1: the post office or not, I just can't No, that's good.

931
00:46:27,560 --> 00:46:30,000
Speaker 1: Maybe I'll check out your closet. What's your name on Postmark?

932
00:46:30,040 --> 00:46:34,080
Speaker 2: Again, I don't know, probably some variation of yomandy Yo,

933
00:46:34,880 --> 00:46:38,000
Speaker 2: which became my nickname in like the eighth grade and

934
00:46:38,120 --> 00:46:39,839
Speaker 2: has just stuck with me for twenty years.

935
00:46:39,840 --> 00:46:49,360
Speaker 1: So there's that. Well I am going to hmm. I

936
00:46:49,400 --> 00:46:52,560
Speaker 1: think I'm gonna boost and a break, so real quick break.

937
00:46:52,880 --> 00:46:55,840
Speaker 1: Although I appreciate when people send me like free stuff

938
00:46:55,920 --> 00:47:01,400
Speaker 1: in the mail, I typically tell people not to. I mean,

939
00:47:01,480 --> 00:47:03,680
Speaker 1: like big brands, that's one thing, but like sometimes smaller

940
00:47:03,680 --> 00:47:05,200
Speaker 1: brands will send me oh oh typical I want to

941
00:47:05,239 --> 00:47:07,560
Speaker 1: send you something, and I usually I'm like, honestly, I

942
00:47:08,000 --> 00:47:09,880
Speaker 1: just don't have the energy for social media like I

943
00:47:09,960 --> 00:47:12,960
Speaker 1: used to, so I know that the intention is I'm

944
00:47:12,960 --> 00:47:15,000
Speaker 1: gonna send you this shirt and you're gonna wear it

945
00:47:15,040 --> 00:47:17,759
Speaker 1: and then you're gonna instagram it and this and that,

946
00:47:17,920 --> 00:47:20,759
Speaker 1: and I just don't want to not because your shirt

947
00:47:20,840 --> 00:47:23,319
Speaker 1: is not dope. I sometimes like, if it's dope, I'm

948
00:47:23,360 --> 00:47:27,560
Speaker 1: probably just gonna wear it. So that's happened a couple

949
00:47:27,600 --> 00:47:30,279
Speaker 1: of times where somehow someone has gotten my and it's

950
00:47:30,280 --> 00:47:32,480
Speaker 1: what's so crazy is manny that I typically don't even

951
00:47:32,520 --> 00:47:34,520
Speaker 1: I don't even give out my address. So sometimes people

952
00:47:34,560 --> 00:47:38,399
Speaker 1: will find my work address, my business address and will

953
00:47:38,400 --> 00:47:42,880
Speaker 1: send me something, which, like I said, it's always really nice. Creepy, no,

954
00:47:42,960 --> 00:47:44,440
Speaker 1: but it is nice because I get it, Like you know,

955
00:47:44,480 --> 00:47:47,160
Speaker 1: it's always with some really nice message. Typically they'll say

956
00:47:47,160 --> 00:47:49,000
Speaker 1: something like I took your liver with your challenge or

957
00:47:49,000 --> 00:47:51,319
Speaker 1: I'm inside the academy and it helped me, so this

958
00:47:51,360 --> 00:47:53,840
Speaker 1: is my gift to you, and I'm like, okay. But

959
00:47:53,880 --> 00:47:55,200
Speaker 1: then in it at the bottom it says when you

960
00:47:55,200 --> 00:47:56,359
Speaker 1: wear it, please tag me at I'm.

961
00:47:56,280 --> 00:47:58,880
Speaker 3: Like, oh my gosh, that's a little bit of a

962
00:47:58,880 --> 00:48:02,600
Speaker 3: break that if you're going to send something, I would

963
00:48:02,680 --> 00:48:04,480
Speaker 3: love for it to be set without the expectation that

964
00:48:04,520 --> 00:48:07,000
Speaker 3: I am going to tag it upcause sometimes I do,

965
00:48:07,120 --> 00:48:07,399
Speaker 3: like in.

966
00:48:07,360 --> 00:48:10,080
Speaker 1: The moment, I will and sometimes I'll just rock it

967
00:48:10,120 --> 00:48:12,120
Speaker 1: because it's super cute. I just don't want to have

968
00:48:12,160 --> 00:48:15,360
Speaker 1: to feel indebted to have to tag you cause to

969
00:48:15,520 --> 00:48:18,040
Speaker 1: be all the way real, I charge brands, I mean,

970
00:48:18,080 --> 00:48:20,279
Speaker 1: not like smaller brands, but I charge like, you know,

971
00:48:20,480 --> 00:48:24,120
Speaker 1: big brands, like a few g's for me to tag

972
00:48:24,160 --> 00:48:27,680
Speaker 1: them on Instagram. And so sometimes when people send me something,

973
00:48:27,760 --> 00:48:31,799
Speaker 1: I'm like, uh, ascu as your T shirt is it's

974
00:48:31,840 --> 00:48:35,200
Speaker 1: not my going rate to tag you as like a

975
00:48:35,280 --> 00:48:38,239
Speaker 1: quote unquote influencer, you know. So that's one that's just

976
00:48:38,280 --> 00:48:40,200
Speaker 1: a little just a little break of if you're going

977
00:48:40,239 --> 00:48:43,840
Speaker 1: to send something, you know, unless I request it. And typically, honestly,

978
00:48:43,880 --> 00:48:45,239
Speaker 1: what I just do is like I pay for it.

979
00:48:45,560 --> 00:48:47,840
Speaker 1: I will pay you know, the fifty dollars for the shirt,

980
00:48:48,040 --> 00:48:50,320
Speaker 1: you know, versus like you asking me, and then in

981
00:48:50,320 --> 00:48:51,799
Speaker 1: if I wear them, I remember I tag you and

982
00:48:51,800 --> 00:48:54,800
Speaker 1: that's an extra bonus versus like you asking me to

983
00:48:55,239 --> 00:48:57,439
Speaker 1: give you something that I charge you know, people for

984
00:48:57,440 --> 00:48:59,319
Speaker 1: for free basically for the price of the T shirt.

985
00:48:59,400 --> 00:49:00,759
Speaker 1: It's like when people want to pick your brain for

986
00:49:01,360 --> 00:49:03,920
Speaker 1: a cup of coffee. I'm like, I've got coffee money.

987
00:49:04,160 --> 00:49:07,719
Speaker 2: But okay, this whole this whole break was like a

988
00:49:07,760 --> 00:49:08,320
Speaker 2: mad flex.

989
00:49:09,320 --> 00:49:12,319
Speaker 3: No, I really wasn't trying, because you know, I just

990
00:49:12,320 --> 00:49:12,640
Speaker 3: went to.

991
00:49:12,520 --> 00:49:15,040
Speaker 1: Your office yesterday and I was like, instead, send it

992
00:49:15,080 --> 00:49:17,399
Speaker 1: to me because it feels so and then you feel

993
00:49:17,440 --> 00:49:19,160
Speaker 1: guilty because this is what happens. The reason why I

994
00:49:19,160 --> 00:49:20,920
Speaker 1: said it because someone hit me yesterday was like did

995
00:49:20,960 --> 00:49:22,359
Speaker 1: you get your package? Did you get your package? When

996
00:49:22,360 --> 00:49:22,920
Speaker 1: you're gonna wear it?

997
00:49:22,960 --> 00:49:24,799
Speaker 2: I was like, oh my gosh, Okay, well that's just

998
00:49:24,840 --> 00:49:27,120
Speaker 2: like not being self aware.

999
00:49:27,440 --> 00:49:32,680
Speaker 1: Ye thanks, sus I'm gonna or. I remember one person actually,

1000
00:49:32,719 --> 00:49:35,880
Speaker 1: like like Instagram yelled at me. She had sent me

1001
00:49:35,920 --> 00:49:38,200
Speaker 1: something I tagged it. She's like, you didn't take everything,

1002
00:49:38,840 --> 00:49:40,680
Speaker 1: like did you use this part? And I was like okay.

1003
00:49:41,120 --> 00:49:43,719
Speaker 1: And then it was like almost every month it was

1004
00:49:43,760 --> 00:49:46,760
Speaker 1: like what about the other thing? I said you. I'm like, wow, okay,

1005
00:49:46,840 --> 00:49:49,080
Speaker 1: I'm gonna mail these things back to you. So just

1006
00:49:49,120 --> 00:49:52,520
Speaker 1: being mindful when you're sending stuff to people, because it

1007
00:49:52,520 --> 00:49:55,600
Speaker 1: could be a lot. So yeah, there's a sense of

1008
00:49:55,760 --> 00:49:59,320
Speaker 1: entitlement that sometimes I don't think people realize that they're displaying.

1009
00:49:59,760 --> 00:50:01,560
Speaker 1: That can be a little bit stressful, and that makes

1010
00:50:01,560 --> 00:50:03,560
Speaker 1: you just say I'll just buy the things I want.

1011
00:50:03,600 --> 00:50:05,560
Speaker 1: I don't need to just send me anything, thank you,

1012
00:50:06,239 --> 00:50:09,560
Speaker 1: but a boost. I actually want to boost Pottery Barn.

1013
00:50:09,680 --> 00:50:11,560
Speaker 1: I know it seems random, but.

1014
00:50:13,000 --> 00:50:15,920
Speaker 2: New home owner alert.

1015
00:50:15,239 --> 00:50:19,840
Speaker 1: Because I purchased this, this leather like a chair with

1016
00:50:19,920 --> 00:50:22,879
Speaker 1: an ottoman that looks like a baby outoman. I mean,

1017
00:50:22,960 --> 00:50:24,920
Speaker 1: when I tell you, this thing is so little, I

1018
00:50:25,080 --> 00:50:27,200
Speaker 1: was like, what in the in the picture it didn't

1019
00:50:27,239 --> 00:50:31,000
Speaker 1: look that little. But so anybody knows when you purchase

1020
00:50:31,040 --> 00:50:33,600
Speaker 1: things and having to return, imagine having to return a

1021
00:50:33,680 --> 00:50:36,600
Speaker 1: whole like leather chair. And I was thinking to myself, oh,

1022
00:50:36,640 --> 00:50:39,040
Speaker 1: I'm gonna do this. So I called Pottery Barn just

1023
00:50:39,040 --> 00:50:40,879
Speaker 1: to get the return flip and they were like, no,

1024
00:50:41,440 --> 00:50:42,920
Speaker 1: that not only do you like put it back in

1025
00:50:42,960 --> 00:50:44,279
Speaker 1: the box and leave it on the on the front

1026
00:50:44,280 --> 00:50:47,360
Speaker 1: porch and we'll pick it up. What When they started

1027
00:50:47,360 --> 00:50:51,800
Speaker 1: doing that, I was so impressed because I thought wow,

1028
00:50:52,360 --> 00:50:53,920
Speaker 1: So I ended up ordering the chair that I really

1029
00:50:53,960 --> 00:50:55,799
Speaker 1: went like, I went to Pottery Barn in person today

1030
00:50:55,840 --> 00:50:58,080
Speaker 1: to see, like what chair that I really wanted, And

1031
00:50:58,120 --> 00:51:00,719
Speaker 1: so I ended up ordering that. But just I had

1032
00:51:00,760 --> 00:51:03,520
Speaker 1: never I mean as much furniture as I bought, I'd

1033
00:51:03,600 --> 00:51:06,600
Speaker 1: never had a company offer to come pick it up

1034
00:51:06,600 --> 00:51:08,879
Speaker 1: for me. I just yeah, I just thought that level

1035
00:51:08,920 --> 00:51:11,480
Speaker 1: of customer service was just amazing. And so because they

1036
00:51:11,520 --> 00:51:13,399
Speaker 1: already pottery barn, the way they do it is they

1037
00:51:13,440 --> 00:51:15,040
Speaker 1: will bring it to any floor in the house. So

1038
00:51:15,080 --> 00:51:16,600
Speaker 1: I've had Tom bring things to the third floor, which

1039
00:51:16,640 --> 00:51:19,359
Speaker 1: I'm like, sorry, here's some water and a tip, and

1040
00:51:19,400 --> 00:51:21,200
Speaker 1: they will set it up for you, like open up

1041
00:51:21,200 --> 00:51:23,040
Speaker 1: the box, put the feed on whatever, set it up

1042
00:51:23,040 --> 00:51:26,000
Speaker 1: and all of that for you. Honestly, their level of

1043
00:51:26,000 --> 00:51:29,839
Speaker 1: customer service is improgressive and the fact that they're going

1044
00:51:29,880 --> 00:51:31,239
Speaker 1: to pick it up for me, so I just wanted

1045
00:51:31,280 --> 00:51:35,000
Speaker 1: to do a little boost on that level of customer

1046
00:51:35,040 --> 00:51:37,880
Speaker 1: service of like, Wow, I would definitely order from them

1047
00:51:37,920 --> 00:51:40,239
Speaker 1: again because they made it so easy to receive and

1048
00:51:40,280 --> 00:51:43,120
Speaker 1: they make it really easy to get back all of it.

1049
00:51:43,320 --> 00:51:45,560
Speaker 2: Yeah, and especially they don't heard the restocking fee. Those

1050
00:51:45,600 --> 00:51:47,400
Speaker 2: can't kill you, Yeah, I believe me.

1051
00:51:47,440 --> 00:51:49,840
Speaker 1: I actually had, like I ordered something that I just

1052
00:51:49,880 --> 00:51:51,359
Speaker 1: have in my house down a lot of the sink

1053
00:51:51,800 --> 00:51:53,640
Speaker 1: and like because the restocking fee was like more than

1054
00:51:53,640 --> 00:51:55,160
Speaker 1: the price of life to drink up and I was like,

1055
00:51:55,160 --> 00:51:57,600
Speaker 1: I guess I'll just be keeping this random sink because

1056
00:51:58,360 --> 00:52:01,440
Speaker 1: all right, y'all. As for usually, we're so glad that

1057
00:52:01,480 --> 00:52:05,640
Speaker 1: Maddie is bizy and we'll see you next week, See

1058
00:52:05,680 --> 00:52:10,400
Speaker 1: you next week, a week