1
00:00:06,200 --> 00:00:10,000
Speaker 1: It's time for the b a qa a to b

2
00:00:10,280 --> 00:00:13,400
Speaker 1: a q a. What you say to be a qa

3
00:00:13,720 --> 00:00:16,320
Speaker 1: ain't no man day, but the b a q a

4
00:00:16,560 --> 00:00:20,200
Speaker 1: is tipping. M Okay, the b a q aa me

5
00:00:20,239 --> 00:00:23,239
Speaker 1: and my high pony wearing my five dollar shirt that

6
00:00:23,239 --> 00:00:26,400
Speaker 1: says black and beautiful because what I'm belth get you

7
00:00:26,400 --> 00:00:29,760
Speaker 1: somebody who could do beth. So I'm going to do

8
00:00:29,840 --> 00:00:34,120
Speaker 1: this b a qa by myself and my lonely. We

9
00:00:34,200 --> 00:00:36,440
Speaker 1: have a money question and then I also have a

10
00:00:36,479 --> 00:00:39,879
Speaker 1: business question. I'm just trying to make sure my hyghe pone.

11
00:00:39,920 --> 00:00:41,240
Speaker 1: I just feel like the pony's not giving what I

12
00:00:41,240 --> 00:00:44,800
Speaker 1: want to give. Anyway, We're gonna focus. Okay. I have

13
00:00:44,880 --> 00:00:48,320
Speaker 1: therapy today, so I'm feeling very zen. Okay, do you

14
00:00:48,360 --> 00:00:51,280
Speaker 1: guys go to therapy. I feel like if you're black,

15
00:00:51,320 --> 00:00:53,559
Speaker 1: you need to. I feel like everyone needs therapy, but

16
00:00:53,640 --> 00:00:57,360
Speaker 1: especially black and brown people. My therapist is awesome, Doctor Green,

17
00:00:57,480 --> 00:01:02,200
Speaker 1: She's awesome. I recommend therapy because it will help if

18
00:01:02,240 --> 00:01:05,640
Speaker 1: you are one place. Therapy is like mentorship, right or

19
00:01:05,680 --> 00:01:08,240
Speaker 1: like you know, being like a having a teacher, because

20
00:01:08,560 --> 00:01:11,600
Speaker 1: it will help you get to from the place you

21
00:01:11,640 --> 00:01:13,840
Speaker 1: are to the place you want to be. In a

22
00:01:13,880 --> 00:01:17,119
Speaker 1: more concise way because oftentimes I've done a lot of

23
00:01:17,200 --> 00:01:20,640
Speaker 1: self work. Like many of you listening, I'm sure you've

24
00:01:20,640 --> 00:01:23,119
Speaker 1: done a lot of self work, but I cannot tell

25
00:01:23,160 --> 00:01:28,080
Speaker 1: you how much faster I've been able to get to

26
00:01:28,240 --> 00:01:32,880
Speaker 1: some of my internal mental emotional goals as a result

27
00:01:32,959 --> 00:01:34,960
Speaker 1: of therapy that maybe it would have taken me years

28
00:01:35,000 --> 00:01:36,399
Speaker 1: to kind of figure out on my own, because you know,

29
00:01:36,400 --> 00:01:38,880
Speaker 1: you're trying and failing, trying and failing, and so a

30
00:01:38,920 --> 00:01:42,039
Speaker 1: really good therapist helps to give you shortcuts to the

31
00:01:42,080 --> 00:01:45,279
Speaker 1: place that you want to be internally, and it's top tier, Okay,

32
00:01:45,840 --> 00:01:48,120
Speaker 1: top tier. I could not have made it through grief

33
00:01:48,160 --> 00:01:51,000
Speaker 1: without therapy, and there's just other things I've worked on.

34
00:01:51,040 --> 00:01:53,720
Speaker 1: I mean, I'm just a I don't even recognize the

35
00:01:53,720 --> 00:01:55,720
Speaker 1: person that I am. I mean outside of the grief.

36
00:01:55,760 --> 00:01:58,400
Speaker 1: I was doing therapy before that. And so I just

37
00:01:58,440 --> 00:02:00,280
Speaker 1: recommend this. You know, this not be a key, but

38
00:02:00,320 --> 00:02:02,960
Speaker 1: it is really because it's like it's a question some

39
00:02:03,000 --> 00:02:06,000
Speaker 1: of you guys ask me sometimes, and I just highly,

40
00:02:06,120 --> 00:02:08,639
Speaker 1: highly highly recommend it. You might have to go through

41
00:02:08,960 --> 00:02:10,920
Speaker 1: a few therapists before you find the right one. You

42
00:02:10,919 --> 00:02:13,880
Speaker 1: want to feel super comfortable, you want to not feel

43
00:02:14,360 --> 00:02:17,840
Speaker 1: I'm judged or afraid. You get to decide. Like for

44
00:02:17,960 --> 00:02:20,639
Speaker 1: some people, let's just say you didn't have a mother figure,

45
00:02:20,720 --> 00:02:23,679
Speaker 1: so you might want a therapist that kind of fulfills

46
00:02:23,720 --> 00:02:26,200
Speaker 1: that energy for you. You know, for me, I kind

47
00:02:26,200 --> 00:02:28,679
Speaker 1: of wanted a therapist. I specifically wanted a black woman

48
00:02:28,840 --> 00:02:31,840
Speaker 1: who was around my age because I needed like a

49
00:02:31,919 --> 00:02:35,560
Speaker 1: homegirl esque feel when talking to my therapist. You know,

50
00:02:35,680 --> 00:02:38,400
Speaker 1: that's the energy that I needed for where I am

51
00:02:38,440 --> 00:02:40,520
Speaker 1: in my life. Now. I know a friend of mine,

52
00:02:41,280 --> 00:02:43,960
Speaker 1: his dad is not super present, and he needed He

53
00:02:44,000 --> 00:02:46,239
Speaker 1: loves the fact that his therapist is an older black man.

54
00:02:46,320 --> 00:02:49,080
Speaker 1: My friend is a young black man, and you know,

55
00:02:49,160 --> 00:02:51,480
Speaker 1: he said, because it kind of is like I get

56
00:02:51,480 --> 00:02:53,840
Speaker 1: to lean into that component that I've been missing. So anyway,

57
00:02:54,200 --> 00:02:55,760
Speaker 1: I just say all that to say, get you some

58
00:02:55,800 --> 00:02:59,560
Speaker 1: therapy groom, right Doctor Joy, who we've had on the

59
00:02:59,600 --> 00:03:00,920
Speaker 1: show before. Oh you guys have heard of her on

60
00:03:00,919 --> 00:03:04,280
Speaker 1: the show before. She has a book called out called

61
00:03:04,280 --> 00:03:08,400
Speaker 1: Supporting Your Sisters. I believe, hey, doctor Joy, but doctor

62
00:03:08,480 --> 00:03:12,880
Speaker 1: Joy also is the founder of Blackgirltherapy dot com. And

63
00:03:13,720 --> 00:03:15,160
Speaker 1: I don't believe you have to be just a woman,

64
00:03:15,280 --> 00:03:17,280
Speaker 1: but I mean, and it's full of therapists who were

65
00:03:17,320 --> 00:03:19,160
Speaker 1: both men and women. So it's just a great place

66
00:03:19,200 --> 00:03:22,440
Speaker 1: to start if you're looking, all right, if you're looking

67
00:03:22,520 --> 00:03:25,080
Speaker 1: for love, I see what eve seen. All right, we're

68
00:03:25,080 --> 00:03:27,840
Speaker 1: gonna start with a money question. Then we're gonna do

69
00:03:27,840 --> 00:03:31,600
Speaker 1: a business question. Okay, okay, all right. So this question

70
00:03:31,760 --> 00:03:36,520
Speaker 1: came in from the emails, Hi ladies. It was just me, Hey, ladies,

71
00:03:36,680 --> 00:03:40,120
Speaker 1: why is it you can't go? I'll be cutting up

72
00:03:40,120 --> 00:03:42,440
Speaker 1: my man, he's not here. I started listening to your

73
00:03:42,440 --> 00:03:46,080
Speaker 1: podcast late last year and I find it very informative. Thanks. Girl.

74
00:03:46,440 --> 00:03:50,960
Speaker 1: I turned fifty years old last December twenty twenty. I'm

75
00:03:51,000 --> 00:03:52,960
Speaker 1: a single mom of a seven year old daughter. Yep.

76
00:03:52,960 --> 00:03:56,040
Speaker 1: I'm a late bloomer and a sole financial provider. Okay,

77
00:03:56,080 --> 00:03:58,920
Speaker 1: so you had your baby when you were forty three,

78
00:03:59,520 --> 00:04:01,800
Speaker 1: which you know. Oh girl, that's cute, because I'm forty three. Okay.

79
00:04:02,280 --> 00:04:06,200
Speaker 1: I'm looking for ideas and best options to optimize, slash

80
00:04:06,360 --> 00:04:09,960
Speaker 1: invest the excess income from my regular job to generate

81
00:04:10,000 --> 00:04:14,080
Speaker 1: passive income that can help boost my retirement income. Okay.

82
00:04:14,120 --> 00:04:17,800
Speaker 1: So she has job, she has excess income left over

83
00:04:17,839 --> 00:04:19,960
Speaker 1: after paying bills and everything else, and she wants it

84
00:04:20,000 --> 00:04:22,039
Speaker 1: to She wants her money to make money, so that

85
00:04:22,120 --> 00:04:24,920
Speaker 1: way she can be ready for retirement. Got you. I'm

86
00:04:24,960 --> 00:04:27,960
Speaker 1: thinking to retire at about twenty I mean at about

87
00:04:28,000 --> 00:04:30,919
Speaker 1: sixty two slash sixty three years old, okay, when my

88
00:04:31,000 --> 00:04:34,320
Speaker 1: daughter finishes high school. That's cute, love that. But I

89
00:04:34,320 --> 00:04:37,240
Speaker 1: would work a part time for benefits until social Security

90
00:04:37,279 --> 00:04:40,680
Speaker 1: if there is any to get and Medicare kicks in.

91
00:04:42,720 --> 00:04:45,720
Speaker 1: I don't know what Barista fire, but I know what

92
00:04:45,760 --> 00:04:49,599
Speaker 1: fire stands or fire stands for financial independence retire early,

93
00:04:49,640 --> 00:04:51,400
Speaker 1: but I don't know what Barista fire is, if I'm

94
00:04:51,440 --> 00:04:54,000
Speaker 1: being honest. That's what she wrote here. So she wants

95
00:04:54,000 --> 00:04:57,080
Speaker 1: to retire early because typically retirement age starts about sixty five.

96
00:04:57,160 --> 00:05:00,440
Speaker 1: She wants to retire early, but she might work a

97
00:05:00,440 --> 00:05:03,719
Speaker 1: little part time, you know, in the meantime untwil you know,

98
00:05:03,800 --> 00:05:06,720
Speaker 1: so she can have her benefits. I'm assuming wherever you work,

99
00:05:06,760 --> 00:05:09,600
Speaker 1: you won't be able to take your benefits with you. Okay,

100
00:05:09,880 --> 00:05:13,039
Speaker 1: she says, I own my own house outright, yes, girl,

101
00:05:14,320 --> 00:05:18,440
Speaker 1: So I only pay taxes, insurance, and HOA utilities monthly. Okay.

102
00:05:18,920 --> 00:05:23,560
Speaker 1: I have no debt, yes, queen, I stand you. My

103
00:05:23,640 --> 00:05:28,359
Speaker 1: retirement account is decent and I contribute about sixteen percent

104
00:05:28,400 --> 00:05:33,520
Speaker 1: of my salary, but not at the catchup max contribution limit. Okay,

105
00:05:33,960 --> 00:05:38,920
Speaker 1: So just so you know, I believe if you oh

106
00:05:38,920 --> 00:05:42,800
Speaker 1: my goodness, let's see. Let me remind myself, when can

107
00:05:42,839 --> 00:05:48,160
Speaker 1: you start doing retirement catch up? Because you know my memory,

108
00:05:48,640 --> 00:05:55,000
Speaker 1: there is catch up age you can start, okay, so

109
00:05:55,120 --> 00:05:58,880
Speaker 1: catch up contributions. You can start doing ketchup contributions when

110
00:05:58,880 --> 00:06:01,240
Speaker 1: you're fifty. That just me. And there is typically a

111
00:06:01,279 --> 00:06:04,919
Speaker 1: max that you can contribute to a retirement account like

112
00:06:05,000 --> 00:06:09,080
Speaker 1: an individual retirement account or a Wroth individual retirement account.

113
00:06:09,120 --> 00:06:11,400
Speaker 1: So these are just retirement accounts that you have, right,

114
00:06:12,360 --> 00:06:15,719
Speaker 1: So there are limits. So let's just say the limit

115
00:06:15,800 --> 00:06:20,960
Speaker 1: is normally six thousand dollars for the catchup contribution. It

116
00:06:21,080 --> 00:06:23,640
Speaker 1: might be actually, let's not even guess. Let's look at

117
00:06:23,640 --> 00:06:26,760
Speaker 1: what it currently is right right about knee, how about now,

118
00:06:27,080 --> 00:06:30,760
Speaker 1: because I'm up right now? Okay. So so for example,

119
00:06:30,839 --> 00:06:33,640
Speaker 1: for an IRA contribution for those fifty and older, it's

120
00:06:33,680 --> 00:06:38,479
Speaker 1: seventy five hundred dollars, which is an additional thousand dollars.

121
00:06:38,520 --> 00:06:41,400
Speaker 1: Because for everybody else like me, I'm forty three, I

122
00:06:41,440 --> 00:06:44,760
Speaker 1: can max out in my IRA, my individual retirement account.

123
00:06:44,839 --> 00:06:47,240
Speaker 1: I can max out at sixty five hundred dollars a year,

124
00:06:47,760 --> 00:06:50,920
Speaker 1: but if you're fifty and above, you can put seventy

125
00:06:50,960 --> 00:06:53,120
Speaker 1: five hundred. They do that because they know some people

126
00:06:53,120 --> 00:06:57,760
Speaker 1: have not might be behind and setting aside for retirement,

127
00:06:58,120 --> 00:07:01,320
Speaker 1: and so they're letting you add additional thousand dollars a year.

128
00:07:01,360 --> 00:07:03,480
Speaker 1: So that's what she's saying. She's not maxing out at

129
00:07:03,520 --> 00:07:06,680
Speaker 1: her she's not doing the full catchup contribution. She's not

130
00:07:06,720 --> 00:07:09,160
Speaker 1: doing the seventy five hundred just yet, but she is

131
00:07:09,200 --> 00:07:14,680
Speaker 1: maxing out on her HSA that's a health savings account,

132
00:07:14,920 --> 00:07:17,560
Speaker 1: and she started a WROTH in twenty twenty one, but

133
00:07:17,640 --> 00:07:20,240
Speaker 1: she's leary. A WROTH is another retirement account, type of

134
00:07:20,280 --> 00:07:24,360
Speaker 1: retirement account, but she's leary of losing money in stocks

135
00:07:24,520 --> 00:07:27,040
Speaker 1: outside of her four one K, so she's only putting

136
00:07:27,080 --> 00:07:30,120
Speaker 1: about half the annual max. She also has a five

137
00:07:30,120 --> 00:07:34,280
Speaker 1: to twenty nine plan that's a college fund that you

138
00:07:34,360 --> 00:07:37,120
Speaker 1: can set aside, and there are tax benefits to that

139
00:07:37,440 --> 00:07:41,840
Speaker 1: for her daughter. And her emergency fund is six months.

140
00:07:43,640 --> 00:07:46,360
Speaker 1: Is that six months? In about eight to nine months?

141
00:07:46,360 --> 00:07:48,080
Speaker 1: If she goes on a noodle budget, girl, you are

142
00:07:48,200 --> 00:07:50,640
Speaker 1: just so you have an emergency fund of six months,

143
00:07:50,640 --> 00:07:52,400
Speaker 1: but if you noodle budget, it's really like eight to

144
00:07:52,480 --> 00:07:55,440
Speaker 1: nine months. I mean, are you my bestie? I feel

145
00:07:55,440 --> 00:07:57,120
Speaker 1: I could be doing more, but I'm not sure what

146
00:07:57,120 --> 00:07:58,680
Speaker 1: I'm about to strangle you because you're doing all the

147
00:07:58,720 --> 00:08:01,600
Speaker 1: things well. I do have some suggestions. Is this the

148
00:08:01,640 --> 00:08:03,480
Speaker 1: time that I should probably sit with a financial plan

149
00:08:03,600 --> 00:08:06,640
Speaker 1: or a financial advisor? And which would you recommend? And why?

150
00:08:07,080 --> 00:08:10,480
Speaker 1: Thanks for your time, thankful South Florida listener. So, as

151
00:08:10,520 --> 00:08:13,120
Speaker 1: a recap, we had this amazing fifty year old woman

152
00:08:13,160 --> 00:08:16,360
Speaker 1: who has daughter who's seven. She wants to retire about

153
00:08:16,400 --> 00:08:19,160
Speaker 1: the time that her daughter hits high school, which is

154
00:08:19,160 --> 00:08:23,720
Speaker 1: in about twelve years. But this woman does not have

155
00:08:23,760 --> 00:08:26,520
Speaker 1: any debt. She does own her own house, so she

156
00:08:27,000 --> 00:08:29,200
Speaker 1: has to pay the carrying cost, insurance taxes, and things

157
00:08:29,200 --> 00:08:32,960
Speaker 1: like that. She is contributing to her retirement fund through

158
00:08:33,000 --> 00:08:34,960
Speaker 1: her four oh one K as well as a roth ira,

159
00:08:35,200 --> 00:08:37,280
Speaker 1: which is a retirement account that you can do outside

160
00:08:37,280 --> 00:08:39,959
Speaker 1: of your job. She's not maxing out either one of those.

161
00:08:40,200 --> 00:08:42,240
Speaker 1: She has a five twenty nine plan for her daughter

162
00:08:42,280 --> 00:08:48,120
Speaker 1: which is a college tax beneficial college savings plan, and

163
00:08:48,200 --> 00:08:50,800
Speaker 1: she has emergency funds of six months and eight to

164
00:08:50,880 --> 00:08:52,240
Speaker 1: nine months if she had to get down to get

165
00:08:52,240 --> 00:08:56,920
Speaker 1: her noodle lawn. So, first things first, I pop up anyway.

166
00:08:57,360 --> 00:09:00,000
Speaker 1: First things first, what I would say, Florida, South Florida

167
00:09:00,120 --> 00:09:06,520
Speaker 1: listener is you're doing amazing, amazing, amazing. I just want

168
00:09:06,559 --> 00:09:08,920
Speaker 1: you for a moment to look into the mirror and say,

169
00:09:09,000 --> 00:09:12,400
Speaker 1: I am freaking doing amazing. You are at your debt free,

170
00:09:12,440 --> 00:09:16,080
Speaker 1: you own your home, you're contributing to retirement accounts, you're

171
00:09:16,120 --> 00:09:19,360
Speaker 1: contributing to a college from, you have emergency saving. You

172
00:09:19,400 --> 00:09:21,679
Speaker 1: know what a noodle budget. Girl, I need you to

173
00:09:21,720 --> 00:09:27,679
Speaker 1: pause for the cause. Breathe in, breathe out. I'm awesome.

174
00:09:28,160 --> 00:09:30,480
Speaker 1: I'm awesome. I need you to say that because this

175
00:09:30,600 --> 00:09:33,840
Speaker 1: is amazing. This is goals. Now. I do see some

176
00:09:33,960 --> 00:09:38,280
Speaker 1: places where before you start thinking about some other place,

177
00:09:38,320 --> 00:09:40,160
Speaker 1: because she's saying she's basically wants to know they're like

178
00:09:40,720 --> 00:09:42,199
Speaker 1: there other ways that she can kind of like make

179
00:09:42,200 --> 00:09:44,040
Speaker 1: her money work for her. And this is what I say.

180
00:09:44,640 --> 00:09:47,520
Speaker 1: One you did say you're contributing sixteen percent of your

181
00:09:47,559 --> 00:09:53,000
Speaker 1: salary to your retirement account, but you're not quite up

182
00:09:53,040 --> 00:09:57,360
Speaker 1: to the catch up contribution amount. I say, you know,

183
00:09:57,440 --> 00:10:01,280
Speaker 1: if you have extra money, consider putting more in your

184
00:10:01,320 --> 00:10:04,000
Speaker 1: four one K if you're allowed to, because you know

185
00:10:04,080 --> 00:10:06,400
Speaker 1: you haven't quite put the seven you know, seventy five hundred.

186
00:10:06,600 --> 00:10:08,280
Speaker 1: That's a place where you can put extra money if

187
00:10:08,280 --> 00:10:11,440
Speaker 1: you have extra money. Another thing that you mentioned is

188
00:10:11,480 --> 00:10:14,160
Speaker 1: that you started a wrath and I know you're a

189
00:10:14,240 --> 00:10:17,400
Speaker 1: leery of losing money in stocks, but you have over

190
00:10:17,480 --> 00:10:20,720
Speaker 1: ten years before you are set to retire or you

191
00:10:20,760 --> 00:10:24,280
Speaker 1: desire to retire, and so typically within ten years, ten

192
00:10:24,360 --> 00:10:26,559
Speaker 1: to thirteen years is a whole how we see thoughts

193
00:10:26,600 --> 00:10:28,120
Speaker 1: go down and up and down up, so you have

194
00:10:28,200 --> 00:10:31,080
Speaker 1: time to rebound. So you might want to consider maxing

195
00:10:31,080 --> 00:10:34,760
Speaker 1: out your raw ira as well. So like maxing out

196
00:10:34,760 --> 00:10:37,079
Speaker 1: your four one K and maxing out your raw ira,

197
00:10:37,720 --> 00:10:39,520
Speaker 1: you know, those are two places that you can put

198
00:10:39,559 --> 00:10:42,480
Speaker 1: extra money. Because the thing is this the benefit of

199
00:10:42,520 --> 00:10:44,840
Speaker 1: a four one K. They both give you tax benefits,

200
00:10:44,840 --> 00:10:47,880
Speaker 1: but two different sides of the tax game. Follow with me.

201
00:10:48,760 --> 00:10:53,200
Speaker 1: The benefit of a four to one K is that currently,

202
00:10:53,320 --> 00:10:56,360
Speaker 1: right now, it will lower your tax burden. So let's

203
00:10:56,400 --> 00:10:59,640
Speaker 1: just pretend that South Florida listener makes one hundred thousand

204
00:10:59,679 --> 00:11:03,920
Speaker 1: dollars year, right and of the one hundred thousand she puts,

205
00:11:04,000 --> 00:11:05,560
Speaker 1: I don't know I'm just making up the number five

206
00:11:05,600 --> 00:11:10,480
Speaker 1: thousand into her her four one k. The government says, well,

207
00:11:10,480 --> 00:11:12,800
Speaker 1: you didn't make a hundred thousand. You made one hundred

208
00:11:12,840 --> 00:11:15,800
Speaker 1: thousand minus the five that you put up for retirement.

209
00:11:15,920 --> 00:11:18,240
Speaker 1: So we're gonna charge you taxes not on one hundred

210
00:11:18,480 --> 00:11:21,400
Speaker 1: but on the ninety five. So you get your tax

211
00:11:21,440 --> 00:11:24,800
Speaker 1: benefits up front with a four to one k. Yay,

212
00:11:25,000 --> 00:11:27,840
Speaker 1: and lower our taxes. We like that. That's cute, right.

213
00:11:28,240 --> 00:11:30,160
Speaker 1: And then when you go to retire and you start

214
00:11:30,160 --> 00:11:32,880
Speaker 1: to pull money out, you pay taxes on the back end,

215
00:11:33,240 --> 00:11:34,880
Speaker 1: so you save on tax on the front end, and

216
00:11:34,920 --> 00:11:36,840
Speaker 1: then you pay taxes on the back end. That's the

217
00:11:36,840 --> 00:11:41,240
Speaker 1: benefit of a four to one k front end savings leaning. Now,

218
00:11:41,280 --> 00:11:44,400
Speaker 1: the benefits of a rawrray is that a raw irray

219
00:11:44,480 --> 00:11:47,320
Speaker 1: is different in that it is money that you put

220
00:11:47,360 --> 00:11:50,679
Speaker 1: into a retirement account after you pay your taxes. So

221
00:11:50,720 --> 00:11:52,440
Speaker 1: you get your one hundred thousand dollars, you get you

222
00:11:52,480 --> 00:11:54,240
Speaker 1: paid one hundred thousand dollars a year, but not really

223
00:11:54,240 --> 00:11:56,000
Speaker 1: when it's all said and done, maybe you get seventy

224
00:11:56,600 --> 00:11:59,920
Speaker 1: right after taxes and everything else. Right, So from that month,

225
00:12:00,000 --> 00:12:01,520
Speaker 1: money you set aside and you put it in your

226
00:12:01,520 --> 00:12:03,760
Speaker 1: wrath IRA. Maybe you put you know, I don't know,

227
00:12:03,800 --> 00:12:08,000
Speaker 1: three thousand dollars into your raw IRA, so the money

228
00:12:08,040 --> 00:12:10,920
Speaker 1: has been taxed. They done got their money, because this

229
00:12:11,040 --> 00:12:13,880
Speaker 1: is money that you're putting into this retirement account after

230
00:12:14,280 --> 00:12:18,600
Speaker 1: from your take home paycheck. So but when you go

231
00:12:18,679 --> 00:12:20,440
Speaker 1: to pull that three thousand dollars out that you've been

232
00:12:20,440 --> 00:12:22,400
Speaker 1: putting every single year, when you go to pull it out,

233
00:12:22,720 --> 00:12:26,160
Speaker 1: that money most likely has grown, so you don't have

234
00:12:26,200 --> 00:12:28,079
Speaker 1: to pay taxes on the money you already pay taxes on,

235
00:12:28,200 --> 00:12:29,960
Speaker 1: and you don't have to pay taxes on the growth.

236
00:12:30,920 --> 00:12:34,360
Speaker 1: So it's like am So what you will hear many

237
00:12:34,400 --> 00:12:37,400
Speaker 1: financial advisors say is that, like, you want to have

238
00:12:37,600 --> 00:12:41,199
Speaker 1: a retirement strategy that allows you one to take advantage

239
00:12:41,200 --> 00:12:44,680
Speaker 1: of paying lower taxes now through your four one K

240
00:12:45,360 --> 00:12:48,280
Speaker 1: and then paying lower taxes later through your raw IRA,

241
00:12:48,440 --> 00:12:51,480
Speaker 1: And you're doing both, but you haven't maximized both. So

242
00:12:51,520 --> 00:12:53,200
Speaker 1: that might be something that you want to look into

243
00:12:53,360 --> 00:12:57,960
Speaker 1: maximizing both if you have extra, okay, and so like

244
00:12:58,000 --> 00:12:59,960
Speaker 1: other than that, honestly, it sounds like you're doing a

245
00:13:00,000 --> 00:13:04,040
Speaker 1: amazing you know, like it does. I don't know if

246
00:13:04,080 --> 00:13:06,920
Speaker 1: there are so there is a point where I was

247
00:13:06,960 --> 00:13:09,240
Speaker 1: here South Florida listener where I was doing all the things.

248
00:13:09,280 --> 00:13:11,760
Speaker 1: I was maxed out on all things, and I kind

249
00:13:11,800 --> 00:13:14,160
Speaker 1: of had gotten myself to as good as I knew

250
00:13:14,200 --> 00:13:16,560
Speaker 1: how to get myself. I didn't have any dead you know,

251
00:13:16,600 --> 00:13:19,040
Speaker 1: I owned a home, all the things, just like you.

252
00:13:19,160 --> 00:13:21,160
Speaker 1: And that is when I reached out to a financial

253
00:13:21,160 --> 00:13:25,920
Speaker 1: advisor and I said, I've done this. I've taken myself

254
00:13:25,960 --> 00:13:28,120
Speaker 1: as far as I can take myself, and I know

255
00:13:28,200 --> 00:13:31,640
Speaker 1: I'm solid, But can I do even better? And that's

256
00:13:31,640 --> 00:13:33,760
Speaker 1: what I sat with my financial advisor, Anjulie, and she

257
00:13:33,840 --> 00:13:35,600
Speaker 1: kind of walked me through other things, like, for example,

258
00:13:35,600 --> 00:13:37,280
Speaker 1: you have a seven year old what is your life

259
00:13:37,360 --> 00:13:40,240
Speaker 1: insurance looking like? You know, do you have a policy

260
00:13:40,280 --> 00:13:42,199
Speaker 1: that will be able to look after her? God forbid,

261
00:13:42,240 --> 00:13:44,840
Speaker 1: something should happen to you, you know, like have you

262
00:13:44,880 --> 00:13:48,880
Speaker 1: done estate planning so you won't be here forever? Just

263
00:13:48,920 --> 00:13:51,160
Speaker 1: because that's the nature of being a human being, right,

264
00:13:51,679 --> 00:13:54,800
Speaker 1: So how do you want Like so, for example, I

265
00:13:54,840 --> 00:13:59,839
Speaker 1: have a trust, and my trust dictates how my nieces

266
00:13:59,840 --> 00:14:02,640
Speaker 1: and nephew and my stepdaughter will receive the funds that

267
00:14:02,679 --> 00:14:05,840
Speaker 1: I've left behind for them over a period of like

268
00:14:05,960 --> 00:14:09,000
Speaker 1: between now and Today's thirty. You know, like do you

269
00:14:09,040 --> 00:14:13,880
Speaker 1: want that for your daughter? So a financial advisor, you know,

270
00:14:14,320 --> 00:14:18,400
Speaker 1: or well, really you want to Certified Financial Planner c FP,

271
00:14:19,120 --> 00:14:23,200
Speaker 1: South Florida Listener. That is the gold standard of financial advisors.

272
00:14:23,200 --> 00:14:26,600
Speaker 1: Almost anyone can be a financial advisor, but a CFP,

273
00:14:26,720 --> 00:14:28,960
Speaker 1: a certified financial planner, they have to take tests, they

274
00:14:28,960 --> 00:14:32,560
Speaker 1: have to you know, they got to they have to

275
00:14:32,600 --> 00:14:34,560
Speaker 1: like keep their license up. They also have to be

276
00:14:34,600 --> 00:14:36,520
Speaker 1: a fiduciary, which means by law, they got to put

277
00:14:36,560 --> 00:14:38,680
Speaker 1: you first. They got to put me first. Solutions, I

278
00:14:38,760 --> 00:14:42,560
Speaker 1: gotta put me first. Okay, So there's not like a

279
00:14:42,760 --> 00:14:44,800
Speaker 1: I can't say, oh, I'm gonna recommend Like obviously I

280
00:14:44,840 --> 00:14:46,400
Speaker 1: love Angelie, but I don't even know if she's taking

281
00:14:46,440 --> 00:14:49,320
Speaker 1: on clients right now. But so it's not like, oh,

282
00:14:49,360 --> 00:14:53,160
Speaker 1: I'm going to recommend this particular financial planner. You're gonna

283
00:14:53,160 --> 00:14:55,680
Speaker 1: have to interview some You're actually gonna go to Get

284
00:14:55,760 --> 00:15:00,480
Speaker 1: Good with Money dot Com because I have a tool

285
00:15:00,600 --> 00:15:04,080
Speaker 1: that you're gonna use, you South Florida Listener or anybody

286
00:15:04,120 --> 00:15:09,000
Speaker 1: else's listening, not Hustle Magazine. What is going on? Get oh,

287
00:15:09,160 --> 00:15:11,360
Speaker 1: I say, get good Money? Oh child, You know, if

288
00:15:11,360 --> 00:15:13,880
Speaker 1: you type in get Good Money dot Com. It takes

289
00:15:13,920 --> 00:15:17,720
Speaker 1: you a hustle magazine. Ell get Good Money Hustle Mama magazine.

290
00:15:17,920 --> 00:15:22,160
Speaker 1: That's hilarious. Anyway, you're going to get good with Money

291
00:15:22,200 --> 00:15:24,720
Speaker 1: dot com. And there's a little green button at the

292
00:15:24,720 --> 00:15:27,960
Speaker 1: top that says get the GGWM Get Good Money toolkits.

293
00:15:27,960 --> 00:15:30,240
Speaker 1: You're gonna click on that, not the book club kit,

294
00:15:30,280 --> 00:15:31,600
Speaker 1: although you can get that if you want it, but

295
00:15:31,640 --> 00:15:34,520
Speaker 1: you here for the toolkit. Okay? Do you gonna put

296
00:15:34,520 --> 00:15:37,520
Speaker 1: your name and email in? The toolkit? Is gonna pop

297
00:15:37,640 --> 00:15:42,000
Speaker 1: up automatically on whatever on Kai. And then what you're

298
00:15:42,000 --> 00:15:48,960
Speaker 1: gonna do is you're gonna scroll down to chapter down

299
00:15:49,040 --> 00:15:54,000
Speaker 1: down down down dun d d d D. You're gonna

300
00:15:54,040 --> 00:15:58,800
Speaker 1: scrow down the chapter. I believe it's chapter nine. Yes, no, no,

301
00:15:59,280 --> 00:16:03,240
Speaker 1: it's gonna it's gonna be me. What did I do? Check? Okay? No,

302
00:16:03,320 --> 00:16:06,120
Speaker 1: you're gonna financial professional Okay. You're going to scroll down

303
00:16:06,160 --> 00:16:12,720
Speaker 1: to chapter ten, a ninety percent hole pick your money team, okay,

304
00:16:13,400 --> 00:16:17,120
Speaker 1: and you're going to click the first link, which is

305
00:16:17,200 --> 00:16:19,760
Speaker 1: my sole called Financial Life Template. It's just a free

306
00:16:19,800 --> 00:16:23,880
Speaker 1: template that I created that I could share with potential

307
00:16:23,960 --> 00:16:27,320
Speaker 1: certified financial planners before interviewing them. That's literally what it says.

308
00:16:27,440 --> 00:16:29,640
Speaker 1: It says my sole called financial life template. Use this

309
00:16:29,680 --> 00:16:32,480
Speaker 1: template to create your own and share it with potential

310
00:16:32,720 --> 00:16:36,840
Speaker 1: certified financial planners before interviewing them. Click, you're gonna click,

311
00:16:37,040 --> 00:16:39,040
Speaker 1: and it's going to open to a Google doc for you.

312
00:16:39,480 --> 00:16:41,720
Speaker 1: And here is what you're gonna fill out before you

313
00:16:41,760 --> 00:16:46,160
Speaker 1: even start interviewing financial planners. Okay, and so this is

314
00:16:46,200 --> 00:16:48,800
Speaker 1: just gonna be really helpful because it's really helpful to

315
00:16:48,920 --> 00:16:53,840
Speaker 1: find a planner. When you share this with a planner,

316
00:16:54,000 --> 00:16:55,960
Speaker 1: you can share before even get involved with them, because

317
00:16:55,960 --> 00:16:57,920
Speaker 1: they'll be able to say, oh, actually I don't some

318
00:16:58,040 --> 00:17:02,400
Speaker 1: planner as specialize in helping divorce women or families or

319
00:17:02,440 --> 00:17:06,560
Speaker 1: millennials or whatever. So I love this template because I

320
00:17:06,800 --> 00:17:08,400
Speaker 1: used it. I must have sent it out to thirty

321
00:17:08,440 --> 00:17:12,640
Speaker 1: financial advisors and I only interviewed twelve of them because

322
00:17:12,680 --> 00:17:14,639
Speaker 1: the other ones were like, oh, no, you're actually not

323
00:17:14,680 --> 00:17:16,359
Speaker 1: a fit. So instead of me getting on the phone,

324
00:17:16,400 --> 00:17:18,720
Speaker 1: I just sent them this said, hey, my friend suggested

325
00:17:18,760 --> 00:17:21,720
Speaker 1: you here's my financial life in a nutshell. Do you

326
00:17:21,760 --> 00:17:24,199
Speaker 1: think that I'm a fit? And they got to vet themselves,

327
00:17:24,359 --> 00:17:27,480
Speaker 1: So one you're gonna do that first okay, and then

328
00:17:27,800 --> 00:17:32,200
Speaker 1: fool okay after you do the end. You will see

329
00:17:32,280 --> 00:17:36,439
Speaker 1: also under chapter ten of this toolkit, the third bullet

330
00:17:36,480 --> 00:17:40,720
Speaker 1: says financial advisor search sites. And there's some search sites.

331
00:17:40,760 --> 00:17:43,240
Speaker 1: There's three of them that have on here right, and

332
00:17:43,280 --> 00:17:45,119
Speaker 1: so you can click on any one of them and

333
00:17:45,160 --> 00:17:48,280
Speaker 1: start to search for a financial advisor in your area. Remember,

334
00:17:48,280 --> 00:17:51,480
Speaker 1: you're looking for a certified financial planner, and you want

335
00:17:51,600 --> 00:17:55,600
Speaker 1: fee only. You don't want to pay someone based upon

336
00:17:55,640 --> 00:17:58,160
Speaker 1: the percentage of money they have invested, because that gets

337
00:17:58,160 --> 00:18:00,480
Speaker 1: to be very, very very expensive. Want to be able

338
00:18:00,480 --> 00:18:03,080
Speaker 1: to pay out a pocket. Some places you can just

339
00:18:03,080 --> 00:18:05,919
Speaker 1: pay for the conversation for the you know, sometimes you

340
00:18:05,920 --> 00:18:09,000
Speaker 1: can pay for annually for the year. So if it

341
00:18:09,040 --> 00:18:11,639
Speaker 1: was me South Florida listener, I don't know that I

342
00:18:11,680 --> 00:18:13,159
Speaker 1: would sign up for somebody to work with them for

343
00:18:13,160 --> 00:18:14,639
Speaker 1: the whole year. You might not need to do all that.

344
00:18:15,080 --> 00:18:17,919
Speaker 1: You might just need to sit with someone, pay for

345
00:18:17,960 --> 00:18:20,640
Speaker 1: two hours or three hours of their time and say

346
00:18:20,680 --> 00:18:24,400
Speaker 1: here is my my you know, my soul called financial life,

347
00:18:24,400 --> 00:18:26,280
Speaker 1: which is basically what you just did in this email,

348
00:18:26,680 --> 00:18:29,040
Speaker 1: and here's where i'd like to be. What are some

349
00:18:29,119 --> 00:18:31,320
Speaker 1: suggestions that what I should do? You know, and they

350
00:18:31,359 --> 00:18:33,280
Speaker 1: can just make those suggestions. You could do them to yourself.

351
00:18:33,560 --> 00:18:35,800
Speaker 1: And if you find that there are heavier lift than

352
00:18:35,800 --> 00:18:37,200
Speaker 1: you think, then you maybe you can hire them to

353
00:18:37,240 --> 00:18:41,199
Speaker 1: help you do that. Does that make sense? Okay? And right,

354
00:18:41,200 --> 00:18:43,000
Speaker 1: we're gonna wrap up and do your homework again. Okay,

355
00:18:43,240 --> 00:18:47,240
Speaker 1: you're gonna go again to get good with money dot com.

356
00:18:47,240 --> 00:18:50,679
Speaker 1: That is, I wrote a New York Times best selling book. YadA, YadA, YadA.

357
00:18:50,680 --> 00:18:53,879
Speaker 1: But there's a free toolkit there that you're going to

358
00:18:53,920 --> 00:18:57,160
Speaker 1: get instant access to. You can scroll to chapter ten.

359
00:18:57,920 --> 00:19:01,040
Speaker 1: First bullet, download that life template. Anybody could do this.

360
00:19:01,040 --> 00:19:04,760
Speaker 1: This is like for everyone listening, right, fill that out.

361
00:19:05,359 --> 00:19:09,400
Speaker 1: Third bullet. Start using these sites to find a financial advisor.

362
00:19:10,000 --> 00:19:11,680
Speaker 1: And when you see when you're interested in and you

363
00:19:11,720 --> 00:19:13,840
Speaker 1: can ask family and friends before you get on the phone,

364
00:19:13,880 --> 00:19:15,680
Speaker 1: so you don't waste their time in yours. You're gonna

365
00:19:15,680 --> 00:19:18,280
Speaker 1: send them your my so called financial life temple that

366
00:19:18,320 --> 00:19:20,640
Speaker 1: you fill down and let them, you know, let them

367
00:19:20,640 --> 00:19:22,359
Speaker 1: decide whether you're a fit or not, and then start

368
00:19:22,359 --> 00:19:26,640
Speaker 1: to interview them. Okay, again, certify financial planners only, fee

369
00:19:26,680 --> 00:19:30,000
Speaker 1: only kind. There's also a ton of resources here that

370
00:19:30,080 --> 00:19:32,840
Speaker 1: are all free. Well, yeah, for the most part. Yeah,

371
00:19:32,880 --> 00:19:34,480
Speaker 1: I mean some of these are like book suggestions, so

372
00:19:34,480 --> 00:19:35,960
Speaker 1: maybe those are not free, but you know what I mean,

373
00:19:36,040 --> 00:19:40,360
Speaker 1: Like my stuff Inta is free. Okay, Okay, wasn't that

374
00:19:40,400 --> 00:19:43,480
Speaker 1: good or whatever? It was? All right, We're gonna take

375
00:19:43,520 --> 00:19:47,280
Speaker 1: a break, a pause for the calls, a post for

376
00:19:47,520 --> 00:19:50,119
Speaker 1: the calls, and ate a pose for the calls. We're

377
00:19:50,160 --> 00:19:52,800
Speaker 1: gonna take a cause for the cause. That was a

378
00:19:52,800 --> 00:19:55,879
Speaker 1: great letter. Honestly, I love when you know we have

379
00:19:55,960 --> 00:19:57,440
Speaker 1: it all together, you know, and I love the fact

380
00:19:57,440 --> 00:19:59,720
Speaker 1: that you're reaching and wanted to do better and more.

381
00:19:59,720 --> 00:20:01,600
Speaker 1: But I I just hope you patch yourself on the back.

382
00:20:01,760 --> 00:20:06,240
Speaker 1: You're doing incredible in Clintee Black. Hey, all right, we'll

383
00:20:06,240 --> 00:20:14,840
Speaker 1: be back in a moment. And I'm back and I'm

384
00:20:14,880 --> 00:20:18,680
Speaker 1: black and I'm brown ambition. Shit, I'm back and I'm

385
00:20:18,720 --> 00:20:22,960
Speaker 1: black and I'm brown ambition. I'm black and I'm black

386
00:20:23,200 --> 00:20:29,879
Speaker 1: and I'm brown ambition. Don't you wish we could be friends? Hey? Okay,

387
00:20:29,960 --> 00:20:35,840
Speaker 1: so we are back for question new it all dose? Sidebar?

388
00:20:35,960 --> 00:20:38,320
Speaker 1: What do you guys do? Like? I? You know, round

389
00:20:38,359 --> 00:20:40,359
Speaker 1: these parks. I don't celebrate the fourth because when the

390
00:20:40,359 --> 00:20:43,280
Speaker 1: fourth of July was conceived, my people who are still

391
00:20:43,320 --> 00:20:46,280
Speaker 1: in slang fery. Okay, but I do enjoy that day

392
00:20:46,320 --> 00:20:48,280
Speaker 1: off to do whatever the hell I want to do.

393
00:20:48,320 --> 00:20:50,919
Speaker 1: And we went to the shore. I rented a shorehouse

394
00:20:51,760 --> 00:20:53,920
Speaker 1: and have my family and friends come on through, which

395
00:20:53,960 --> 00:20:56,439
Speaker 1: was pretty awesome. This is my third year in the

396
00:20:56,520 --> 00:20:59,320
Speaker 1: road doing it. You know what I really love about kids.

397
00:20:59,560 --> 00:21:01,760
Speaker 1: They will have doing things that you won't do for yourself,

398
00:21:01,800 --> 00:21:04,720
Speaker 1: but you absolutely will do for them. Right. So I

399
00:21:04,760 --> 00:21:07,840
Speaker 1: started to do the short house because Mimimi and my

400
00:21:08,000 --> 00:21:11,159
Speaker 1: row Row, my sister's two kids that live closest to me,

401
00:21:11,200 --> 00:21:13,760
Speaker 1: and I gotta shout out Lily, that's my other niece.

402
00:21:13,920 --> 00:21:15,720
Speaker 1: She's not booboo too, she just lives in Chicago, so

403
00:21:15,760 --> 00:21:18,159
Speaker 1: I don't see her as regularly. But my Mimi and

404
00:21:18,200 --> 00:21:21,679
Speaker 1: my row Row, well, like Auntie, I've never been to

405
00:21:21,720 --> 00:21:24,000
Speaker 1: a beach, but I saw it on YouTube Can we go?

406
00:21:24,480 --> 00:21:26,280
Speaker 1: And I was like, not only could we go, I'm

407
00:21:26,320 --> 00:21:29,400
Speaker 1: gonna run a house. And I did like two years

408
00:21:29,400 --> 00:21:32,280
Speaker 1: ago or three years ago or whenever before COVID, and

409
00:21:32,320 --> 00:21:35,080
Speaker 1: then they enjoyed it so much. They were like, ooh, well,

410
00:21:35,080 --> 00:21:36,760
Speaker 1: we're gonna go back to your beach house. I was like,

411
00:21:36,800 --> 00:21:39,320
Speaker 1: it's not my house. They're like girls semantics whenever you're

412
00:21:39,320 --> 00:21:41,520
Speaker 1: going back. And so last year we went again, and

413
00:21:41,560 --> 00:21:43,239
Speaker 1: then this year we went again, and it was so

414
00:21:43,840 --> 00:21:47,080
Speaker 1: much fun and it was like such a blessing, honestly,

415
00:21:47,160 --> 00:21:49,640
Speaker 1: to be surrounded. That's one of the things I learned

416
00:21:49,640 --> 00:21:53,639
Speaker 1: in therapy. Like my my doctor Green always reminds me.

417
00:21:53,640 --> 00:21:56,479
Speaker 1: She said, Tiffany, you are extremely bused. I am. I

418
00:21:56,520 --> 00:21:59,560
Speaker 1: am inundated with love. I mean between y'all, because y'all

419
00:21:59,560 --> 00:22:01,800
Speaker 1: will be low on me hard. Okay. I can't even

420
00:22:01,840 --> 00:22:03,879
Speaker 1: step out these streets without a black woman coming up

421
00:22:03,920 --> 00:22:07,360
Speaker 1: to me and pouring good thoughts and love and kindness

422
00:22:07,359 --> 00:22:09,919
Speaker 1: into me, you know. And then I have amazing family,

423
00:22:10,000 --> 00:22:12,439
Speaker 1: and even you know, I want even more amazing but

424
00:22:12,520 --> 00:22:14,800
Speaker 1: amazing friends, you know, and then like I have y'all.

425
00:22:15,320 --> 00:22:19,320
Speaker 1: And so when I was at the beach House June

426
00:22:19,320 --> 00:22:25,199
Speaker 1: twenty eighth, is my was my sixth wedding anniversary, it

427
00:22:25,240 --> 00:22:27,040
Speaker 1: would have been well, I guess you can still say,

428
00:22:27,040 --> 00:22:30,200
Speaker 1: I don't know child. So this is my second one

429
00:22:30,280 --> 00:22:33,280
Speaker 1: without Darrell. And so the first year I didn't want

430
00:22:33,320 --> 00:22:35,800
Speaker 1: to be with anybody like I had rented like a

431
00:22:35,840 --> 00:22:37,440
Speaker 1: house in upstate New York. So I can scream and

432
00:22:37,520 --> 00:22:41,119
Speaker 1: cry by myself, which I did, and this time I

433
00:22:41,160 --> 00:22:43,920
Speaker 1: wanted to be surrounded by love and I was even

434
00:22:44,200 --> 00:22:46,960
Speaker 1: even my bonus baby she was there, which is so

435
00:22:47,040 --> 00:22:48,680
Speaker 1: nice because you know, she's sixteen, so child. She act

436
00:22:48,760 --> 00:22:50,760
Speaker 1: like she didn't want to do nothing, but last minute

437
00:22:50,760 --> 00:22:52,479
Speaker 1: she's like, I think I'm gonna gal. I was like,

438
00:22:53,200 --> 00:22:55,240
Speaker 1: for reals, she came and she had a really good

439
00:22:55,240 --> 00:22:57,560
Speaker 1: time too, So it was nice to be surrounded. But

440
00:22:57,560 --> 00:23:01,639
Speaker 1: I live, so yeah, I just was just sharing like

441
00:23:01,680 --> 00:23:05,359
Speaker 1: what my you know what my fourth of July or whatever,

442
00:23:05,359 --> 00:23:07,480
Speaker 1: fifteen days after the Juneteenth as we call around these

443
00:23:07,480 --> 00:23:13,120
Speaker 1: parts look like. But I hope you know you are

444
00:23:13,119 --> 00:23:16,120
Speaker 1: also surrounded by love, you know, because the crazy thing

445
00:23:16,160 --> 00:23:20,480
Speaker 1: about loss of loss of life is life still goes on.

446
00:23:20,560 --> 00:23:23,359
Speaker 1: It's like the weirdest thing, you know, because you're like, wait,

447
00:23:23,840 --> 00:23:26,400
Speaker 1: how come everything has not paused? How come the world

448
00:23:26,480 --> 00:23:30,040
Speaker 1: has not paused? The world doesn't pause, so life can

449
00:23:30,080 --> 00:23:32,640
Speaker 1: be lost and life still goes on at the same time,

450
00:23:32,720 --> 00:23:38,879
Speaker 1: and it is the trippiest, hardest, most just craziest like

451
00:23:39,080 --> 00:23:41,720
Speaker 1: ride to go on. Some days I'm okay, some days

452
00:23:41,760 --> 00:23:43,800
Speaker 1: I'm not okay. But I know one of the things

453
00:23:43,800 --> 00:23:46,320
Speaker 1: I talk about the grief so much with y'all is

454
00:23:46,320 --> 00:23:47,960
Speaker 1: because so many of you come up to me and

455
00:23:47,960 --> 00:23:51,480
Speaker 1: tell me how you lost, like your own partner or

456
00:23:51,520 --> 00:23:53,639
Speaker 1: your child, or your mom or your dad or your

457
00:23:53,680 --> 00:23:58,000
Speaker 1: aunt or whoever you love so deeply and dearly, and

458
00:23:58,040 --> 00:24:00,879
Speaker 1: you say you just appreciate hearing the ups and the downs,

459
00:24:00,880 --> 00:24:03,240
Speaker 1: and you know, like the truth of what grief looks

460
00:24:03,280 --> 00:24:06,520
Speaker 1: like here to like not make it this hidden dark secret.

461
00:24:06,640 --> 00:24:10,040
Speaker 1: Like no, you know, if you are fortunate enough not

462
00:24:10,160 --> 00:24:16,480
Speaker 1: to have have gone through an extreme loss, then you

463
00:24:16,520 --> 00:24:20,120
Speaker 1: know you're really fortunate because it shifts you at the

464
00:24:20,119 --> 00:24:23,480
Speaker 1: most cellular level. You are no longer the same, you know,

465
00:24:23,560 --> 00:24:27,240
Speaker 1: and all you can hope is that somehow you can

466
00:24:27,320 --> 00:24:30,000
Speaker 1: see yourself through, although you carry that thing with you forever,

467
00:24:30,160 --> 00:24:32,600
Speaker 1: you know, Like, I don't care how many years have passed.

468
00:24:33,320 --> 00:24:35,560
Speaker 1: I don't care how many years have passed. Whenever I

469
00:24:35,560 --> 00:24:36,879
Speaker 1: I was talking to someone the other day, we were

470
00:24:36,880 --> 00:24:39,880
Speaker 1: talking about business, and he kind of casually mentioned like, oh, yeah,

471
00:24:39,960 --> 00:24:42,080
Speaker 1: nine years ago, you know, that's when my son was

472
00:24:42,119 --> 00:24:46,760
Speaker 1: tragically murdered. And I was like what what? I was like,

473
00:24:46,800 --> 00:24:50,159
Speaker 1: I'm so sorry, And he was taken by surprise and

474
00:24:50,200 --> 00:24:51,440
Speaker 1: I told him. I was like, you know, I lost

475
00:24:51,440 --> 00:24:53,840
Speaker 1: my husband less than two years ago. He was like yeah,

476
00:24:54,440 --> 00:24:56,440
Speaker 1: And we're both really quiet on the phone for a while,

477
00:24:56,520 --> 00:24:59,719
Speaker 1: and I was like, I know people might tell you

478
00:24:59,760 --> 00:25:02,520
Speaker 1: spend nine year. It hasn't like nine minutes, right, He

479
00:25:02,640 --> 00:25:06,879
Speaker 1: was like yeah, And so you know, I like to

480
00:25:06,920 --> 00:25:09,960
Speaker 1: take a pause to honor the fact that I don't

481
00:25:09,960 --> 00:25:13,000
Speaker 1: care if it's been nineteen years, ninety years, or nine minutes.

482
00:25:13,560 --> 00:25:16,960
Speaker 1: You know, a loss's loss is loss, So you know

483
00:25:17,080 --> 00:25:20,280
Speaker 1: you are allowed to feel that and lean into it

484
00:25:20,400 --> 00:25:23,040
Speaker 1: like a wave. That's what doctor Green teaches me that grief. Once.

485
00:25:23,080 --> 00:25:26,359
Speaker 1: She taught me that that worked so well that sometimes

486
00:25:26,359 --> 00:25:28,520
Speaker 1: in the beginning, girl, you just drowning. Go ahead and drown.

487
00:25:28,640 --> 00:25:30,320
Speaker 1: Just make sure people around you can catch you, because

488
00:25:30,480 --> 00:25:35,600
Speaker 1: what you're gonna do. But over time I learned that

489
00:25:35,720 --> 00:25:39,280
Speaker 1: sometimes the wave that normally would drown me in the

490
00:25:39,400 --> 00:25:42,600
Speaker 1: very beginning, I was bracing as if it was gonna

491
00:25:42,640 --> 00:25:44,600
Speaker 1: drown me. But she's like, if you just waited out,

492
00:25:44,680 --> 00:25:46,760
Speaker 1: you find that the wave actually just hit your ankles

493
00:25:47,240 --> 00:25:49,439
Speaker 1: and then goes back into the ocean and then get

494
00:25:49,480 --> 00:25:51,119
Speaker 1: your knees and go back into you. Like if you

495
00:25:51,280 --> 00:25:54,160
Speaker 1: just waited out that not every wave knocks you out,

496
00:25:54,280 --> 00:25:57,320
Speaker 1: and so once I literally started to visually imagine when

497
00:25:57,359 --> 00:26:00,679
Speaker 1: the wave of emotion and sadness come over me, I

498
00:26:00,680 --> 00:26:03,720
Speaker 1: would visually imagine it like standing at the edge of

499
00:26:03,720 --> 00:26:07,000
Speaker 1: the ocean at the shore or Florida or wherever, and

500
00:26:07,040 --> 00:26:09,520
Speaker 1: then realizing, oh, this is just a temporary this is

501
00:26:09,560 --> 00:26:11,760
Speaker 1: not this is not a tsunami. This is actually not

502
00:26:11,760 --> 00:26:13,680
Speaker 1: gonna knock me out. I just have to wait it out.

503
00:26:14,400 --> 00:26:17,800
Speaker 1: Sometimes it's moments, sometimes it's you know, minutes, sometimes a seconds.

504
00:26:17,800 --> 00:26:19,520
Speaker 1: I can little be brushing my teeth and just start

505
00:26:19,600 --> 00:26:22,399
Speaker 1: hysterically crying and I'm like a cry, go ahead, and

506
00:26:22,440 --> 00:26:24,160
Speaker 1: then the wave will wash over me and then I'll

507
00:26:24,200 --> 00:26:27,359
Speaker 1: go back into the sea. And that has helped tremendously.

508
00:26:28,040 --> 00:26:30,600
Speaker 1: So it's not fighting against it. It's like the wave

509
00:26:30,640 --> 00:26:33,560
Speaker 1: is gonna wave either way. Just be still in the moment.

510
00:26:33,640 --> 00:26:37,359
Speaker 1: So I hope that helps you. So I know that

511
00:26:37,359 --> 00:26:39,840
Speaker 1: seems random, but it's not random, because I was talking

512
00:26:39,840 --> 00:26:43,000
Speaker 1: to one of my mentees today that recently just lost

513
00:26:43,440 --> 00:26:46,800
Speaker 1: his grandmother a couple of days ago, So it just

514
00:26:46,840 --> 00:26:50,720
Speaker 1: had me thinking about grief all over again. And he

515
00:26:50,960 --> 00:26:53,360
Speaker 1: has been in business for a couple of years and

516
00:26:55,000 --> 00:26:58,320
Speaker 1: you know, he's been having a hard time, and he

517
00:26:58,440 --> 00:27:02,520
Speaker 1: was just asking, like, how do you just even start, Tiffany,

518
00:27:03,040 --> 00:27:04,720
Speaker 1: you know, like he's it's been like I think, like

519
00:27:04,760 --> 00:27:07,000
Speaker 1: five years. He's made a little money here there, you know,

520
00:27:07,080 --> 00:27:10,800
Speaker 1: and it's like not from this big budget niece to

521
00:27:10,880 --> 00:27:13,119
Speaker 1: space where like I have an access and knowledge that

522
00:27:13,160 --> 00:27:14,919
Speaker 1: d da, d DA, how do you just start? And

523
00:27:14,960 --> 00:27:17,680
Speaker 1: so me answering the question for him. And it's funny

524
00:27:17,720 --> 00:27:19,520
Speaker 1: because he called me and then I have another mentee

525
00:27:19,920 --> 00:27:21,520
Speaker 1: who has like a business that you probably know if

526
00:27:21,560 --> 00:27:23,479
Speaker 1: I say it, but still he was kind of struggling too.

527
00:27:24,240 --> 00:27:26,119
Speaker 1: He has a business with his wife, and I was like,

528
00:27:26,160 --> 00:27:27,800
Speaker 1: I know his wife for a long time, and we

529
00:27:27,800 --> 00:27:29,399
Speaker 1: were talking on the phone for like an hour, and

530
00:27:29,440 --> 00:27:31,960
Speaker 1: I was just kind of pouring into him, and I thought,

531
00:27:31,960 --> 00:27:35,480
Speaker 1: this is going to be a good question to answer,

532
00:27:35,600 --> 00:27:41,760
Speaker 1: like how how do you how do you start? You know,

533
00:27:42,000 --> 00:27:45,439
Speaker 1: how do you start to walk towards success in business?

534
00:27:45,480 --> 00:27:49,480
Speaker 1: And what both of them, they both have businesses that

535
00:27:49,840 --> 00:27:54,040
Speaker 1: very much are good for the community, you know, like

536
00:27:54,119 --> 00:27:56,880
Speaker 1: it's good for our community, Like these are black centric

537
00:27:57,040 --> 00:28:01,600
Speaker 1: focused businesses that are meant to uplift and uphold and

538
00:28:01,800 --> 00:28:06,600
Speaker 1: enhance and empower our communities. And so they've been doing

539
00:28:06,680 --> 00:28:10,119
Speaker 1: that work for a number of years and they're like,

540
00:28:10,160 --> 00:28:13,880
Speaker 1: but I'm not making sustainable money. And this lesson took

541
00:28:13,920 --> 00:28:16,760
Speaker 1: me a long time to learn. But you've been a

542
00:28:16,880 --> 00:28:19,399
Speaker 1: learner to day. You can't go get you a notebook,

543
00:28:19,440 --> 00:28:23,760
Speaker 1: Go get you a notebook. So here's a lesson I

544
00:28:23,920 --> 00:28:27,600
Speaker 1: had to learn because I too have a community based business,

545
00:28:28,359 --> 00:28:32,159
Speaker 1: that doing a good job with the community side is

546
00:28:32,200 --> 00:28:38,480
Speaker 1: not the same thing as making money. I know. It's like, what, Okay,

547
00:28:38,600 --> 00:28:42,120
Speaker 1: you have to have an impact plan if that's what

548
00:28:42,160 --> 00:28:49,640
Speaker 1: you's so desire, and then a separate income plan. Many

549
00:28:49,680 --> 00:28:52,040
Speaker 1: of us who start businesses to be of service to

550
00:28:52,040 --> 00:28:54,520
Speaker 1: our people, we already have the impact plan. We know

551
00:28:54,560 --> 00:28:56,880
Speaker 1: it's built into our DNA or you out here to help,

552
00:28:57,840 --> 00:29:00,360
Speaker 1: right And then like, and I know, you know. It

553
00:29:00,400 --> 00:29:03,880
Speaker 1: took me four or five years of perfecting my impact

554
00:29:03,960 --> 00:29:07,400
Speaker 1: plan and wondering why I was still broke before I

555
00:29:07,440 --> 00:29:10,680
Speaker 1: realized I don't actually have a plan to make money.

556
00:29:10,880 --> 00:29:14,280
Speaker 1: I just assume if I make the bigger the impact

557
00:29:14,320 --> 00:29:17,520
Speaker 1: money would come. Is say, lie, maybe every once in

558
00:29:17,560 --> 00:29:19,240
Speaker 1: a while you get a little lucky. You almost say

559
00:29:19,240 --> 00:29:22,480
Speaker 1: you hit a lack. But the truth of the matter

560
00:29:22,560 --> 00:29:25,280
Speaker 1: is that's not actually how it works. Like, that's really

561
00:29:25,280 --> 00:29:27,240
Speaker 1: actually not how it works. That like you have to

562
00:29:27,400 --> 00:29:32,120
Speaker 1: have a separate income plan. Here's a crazy thing. You

563
00:29:32,160 --> 00:29:35,840
Speaker 1: can have major impact make no money. You can have

564
00:29:36,040 --> 00:29:38,280
Speaker 1: all this income and not have impact on people in

565
00:29:38,280 --> 00:29:40,840
Speaker 1: a positive way. That's the crazy part. Like you could

566
00:29:40,840 --> 00:29:42,400
Speaker 1: if you could literally just have an income plan and

567
00:29:42,480 --> 00:29:44,720
Speaker 1: have a successful business. But how you want to sleep

568
00:29:44,720 --> 00:29:47,320
Speaker 1: at night? Because I sleep good, So I like to

569
00:29:47,360 --> 00:29:50,680
Speaker 1: have an impact and an income plan. Okay, Now how

570
00:29:50,760 --> 00:29:52,680
Speaker 1: you and yours do in your household, that's up to you.

571
00:29:52,720 --> 00:29:55,840
Speaker 1: But what I'm saying is is that you always have

572
00:29:56,000 --> 00:30:00,479
Speaker 1: to have an income plan. How will I make money

573
00:30:00,800 --> 00:30:04,400
Speaker 1: separate from the impact? How will I make money? And

574
00:30:04,440 --> 00:30:06,920
Speaker 1: so I started once I realized that, I started to

575
00:30:06,960 --> 00:30:08,640
Speaker 1: really look at I'm like, wow, all the things I'm

576
00:30:08,640 --> 00:30:11,840
Speaker 1: doing to create impact, none of these things make me money.

577
00:30:12,000 --> 00:30:15,040
Speaker 1: And if I'm being honest, the budget NISA, which is

578
00:30:15,040 --> 00:30:18,040
Speaker 1: my first business, my first baby, I still struggle with

579
00:30:18,080 --> 00:30:21,880
Speaker 1: that because my first mind is always impact, impact, impact.

580
00:30:21,880 --> 00:30:24,160
Speaker 1: I'll give you an example. I recently did a wealth

581
00:30:24,160 --> 00:30:27,120
Speaker 1: walk in Maryland, and so my wealth walk went really good.

582
00:30:27,160 --> 00:30:29,680
Speaker 1: Like the first Wealth walk I had in Jersey, I

583
00:30:29,720 --> 00:30:31,680
Speaker 1: think like fifty people showed up, which was nice. We

584
00:30:31,760 --> 00:30:33,800
Speaker 1: just walked and talked about money. The second walk I

585
00:30:33,840 --> 00:30:35,600
Speaker 1: had a Mayland, about one hundred people showed up, and

586
00:30:35,640 --> 00:30:37,640
Speaker 1: then this time we went live and four thousand people

587
00:30:37,720 --> 00:30:41,560
Speaker 1: showed up live. It went great. But the Wealth Walk

588
00:30:42,200 --> 00:30:45,640
Speaker 1: is impact and it was such a heavy lift for

589
00:30:45,720 --> 00:30:47,520
Speaker 1: my team, and it cost me money to fly out

590
00:30:47,520 --> 00:30:49,800
Speaker 1: there and to get a hotel to hire the photographer

591
00:30:49,800 --> 00:30:52,640
Speaker 1: and da da da da dah. There was no income

592
00:30:52,720 --> 00:30:55,800
Speaker 1: men and people keep saying, ooh, can you do a

593
00:30:55,800 --> 00:30:58,560
Speaker 1: Wealth walk, kreq, I can't afford to do that, And

594
00:30:58,640 --> 00:31:01,520
Speaker 1: I'm struggling with want to do more Wealth walks because

595
00:31:01,560 --> 00:31:04,480
Speaker 1: they were It was so amazing because one y'all know,

596
00:31:04,520 --> 00:31:07,720
Speaker 1: I've been a walking child right since has been getting

597
00:31:07,760 --> 00:31:11,640
Speaker 1: snatched right. And I know for our community, especially for

598
00:31:11,920 --> 00:31:14,560
Speaker 1: black and brown people, but especially for black women, the

599
00:31:14,640 --> 00:31:20,000
Speaker 1: impact of like of distress and diabetes and high blood

600
00:31:20,040 --> 00:31:22,480
Speaker 1: pressure and hypertension, all these things we carry in our body,

601
00:31:22,720 --> 00:31:27,240
Speaker 1: that walking is a great tool that for the majority

602
00:31:27,280 --> 00:31:30,200
Speaker 1: of us, is not overly taxing. You know, it's a

603
00:31:30,240 --> 00:31:33,080
Speaker 1: community based activity. It's so good for your legs and

604
00:31:33,080 --> 00:31:35,360
Speaker 1: your limbs, and also for most people, not everyone. I

605
00:31:35,360 --> 00:31:37,560
Speaker 1: know that everyone is not able. But the beautiful part

606
00:31:37,600 --> 00:31:40,880
Speaker 1: about the Wealth Walk is that we walk and then

607
00:31:41,120 --> 00:31:43,640
Speaker 1: those who could not walk, we came back anyway to

608
00:31:43,920 --> 00:31:47,680
Speaker 1: a you know, safe, secure place and then we talk

609
00:31:47,720 --> 00:31:50,000
Speaker 1: about money. And the last one I did was with

610
00:31:50,040 --> 00:31:54,880
Speaker 1: the counsel Counselman at large, Will Juando in Maryland, and

611
00:31:54,960 --> 00:31:59,120
Speaker 1: he talked about how to how to lean into legislation

612
00:31:59,400 --> 00:32:02,440
Speaker 1: and your polo titians in a way that will impact

613
00:32:02,480 --> 00:32:04,920
Speaker 1: your wealth. So it was awesome. I mean, Will was

614
00:32:05,000 --> 00:32:08,280
Speaker 1: so knowledgeable from how to get money for your businesses

615
00:32:08,560 --> 00:32:11,400
Speaker 1: to how to purchase a home using the tools available

616
00:32:11,400 --> 00:32:14,440
Speaker 1: to you in your state. It was just so impactful.

617
00:32:15,520 --> 00:32:18,959
Speaker 1: No income, all of that awesome. And I know if

618
00:32:19,000 --> 00:32:20,480
Speaker 1: I do the next one two hundred and the next

619
00:32:20,480 --> 00:32:23,880
Speaker 1: one three hundred and next one front and no income

620
00:32:24,480 --> 00:32:28,440
Speaker 1: and I realize, okay, I have to have an income plan.

621
00:32:28,960 --> 00:32:30,280
Speaker 1: And so some of the things I can do is

622
00:32:30,320 --> 00:32:32,240
Speaker 1: I can sell T shirts like Wealth Walk T shirts.

623
00:32:32,240 --> 00:32:36,080
Speaker 1: I thought about that. Also, I can say, hey brands,

624
00:32:36,120 --> 00:32:39,560
Speaker 1: hey brands, looking like you always do, why don't you

625
00:32:39,640 --> 00:32:43,000
Speaker 1: sponsor or Wealth Walk because you get these people in

626
00:32:43,040 --> 00:32:45,600
Speaker 1: person one hundred, two hundred and three hundred, and then

627
00:32:45,640 --> 00:32:48,880
Speaker 1: on top of that, you get thousands of people watching

628
00:32:49,080 --> 00:32:52,160
Speaker 1: the walk the talk part of the Wealth Walk, and

629
00:32:52,200 --> 00:32:55,960
Speaker 1: so there's like, you know, potential for sponsorship there. So

630
00:32:56,000 --> 00:32:57,560
Speaker 1: I have not done those things yet. But what I'm

631
00:32:57,600 --> 00:33:00,440
Speaker 1: saying is that even me a season entrepreneur, teen years

632
00:33:00,480 --> 00:33:04,080
Speaker 1: in the game, I still struggle with the income impact component. Okay,

633
00:33:04,720 --> 00:33:09,200
Speaker 1: And so I was telling my mentees about So here's

634
00:33:09,200 --> 00:33:11,280
Speaker 1: how I had him start and hopefully these these will

635
00:33:11,280 --> 00:33:14,240
Speaker 1: help for you. You ready, get shippad down. I know you're

636
00:33:14,240 --> 00:33:16,880
Speaker 1: probably driving in the car and to pull over to

637
00:33:16,880 --> 00:33:19,000
Speaker 1: the side of the road, get your pen on. I say,

638
00:33:19,040 --> 00:33:22,440
Speaker 1: here are the steps. One I always visualize whenever I'm

639
00:33:22,440 --> 00:33:25,480
Speaker 1: trying to reach your goal. I always visualize a white board,

640
00:33:25,560 --> 00:33:28,240
Speaker 1: typically a corkboard, and I say, put your numbers on

641
00:33:28,280 --> 00:33:31,720
Speaker 1: the board. So I want you to visualize a whiteboard

642
00:33:31,800 --> 00:33:34,160
Speaker 1: or a corkboard and put a number at the top

643
00:33:34,200 --> 00:33:37,040
Speaker 1: of the board. And so that number can be a

644
00:33:37,120 --> 00:33:38,640
Speaker 1: number of people you want to sign up for your

645
00:33:38,640 --> 00:33:41,280
Speaker 1: email list or whatever. But we're talking about income right now.

646
00:33:41,640 --> 00:33:44,200
Speaker 1: So we're gonna put an income number on the board

647
00:33:44,240 --> 00:33:48,280
Speaker 1: and it has to be folk, it has to be

648
00:33:48,360 --> 00:33:54,160
Speaker 1: based on something to concrete. So for one of my mentees,

649
00:33:54,200 --> 00:33:57,160
Speaker 1: it was based upon he was filing some paperwork for

650
00:33:57,200 --> 00:33:59,480
Speaker 1: his business or whatever, and like he had some lawyer

651
00:33:59,480 --> 00:34:02,400
Speaker 1: feeslah blah blah, and I was like, add up those

652
00:34:02,440 --> 00:34:05,680
Speaker 1: feeds so you can get very clear on the number,

653
00:34:06,320 --> 00:34:08,839
Speaker 1: you know, So for you, you want to get very

654
00:34:08,840 --> 00:34:10,000
Speaker 1: clear on. So I don't want you to just come

655
00:34:10,040 --> 00:34:11,279
Speaker 1: up with some random and oh I would love to

656
00:34:11,280 --> 00:34:13,440
Speaker 1: make ten thousand, I don't care about all that. What

657
00:34:13,640 --> 00:34:16,919
Speaker 1: number do you need to make for a specific reason,

658
00:34:17,000 --> 00:34:19,200
Speaker 1: because it's going to give you purpose to walk toward it.

659
00:34:19,640 --> 00:34:23,360
Speaker 1: So you might say, honestly, I need to make three thousand,

660
00:34:23,480 --> 00:34:27,160
Speaker 1: five hundred because that's how much three months worth of

661
00:34:27,200 --> 00:34:28,560
Speaker 1: rent and the place that I want to rent I

662
00:34:28,600 --> 00:34:30,799
Speaker 1: don't know, and just make it to them. Or maybe you

663
00:34:30,800 --> 00:34:33,400
Speaker 1: need to get materials for whatever. The paintings that you

664
00:34:33,480 --> 00:34:35,840
Speaker 1: sell and the materials you added it all up is

665
00:34:35,880 --> 00:34:39,239
Speaker 1: like two hundred, I don't know. Get that number on

666
00:34:39,360 --> 00:34:43,120
Speaker 1: the board and a timeframe. Numbers are critical, So that's

667
00:34:43,120 --> 00:34:44,680
Speaker 1: going to go on the top of your board. You

668
00:34:44,680 --> 00:34:46,000
Speaker 1: can go on a real board or the board in

669
00:34:46,000 --> 00:34:49,080
Speaker 1: your head. Okay, that goes first on the board. Okay,

670
00:34:49,400 --> 00:34:51,759
Speaker 1: very clear. So it's the number that you need to hit,

671
00:34:51,920 --> 00:34:55,280
Speaker 1: specific number based upon a specific goal and a timeframe.

672
00:34:55,320 --> 00:34:58,680
Speaker 1: Those two numbers go on top. Second on the board.

673
00:34:59,080 --> 00:35:02,759
Speaker 1: Is that's your I must make number. Second number on

674
00:35:02,800 --> 00:35:05,000
Speaker 1: the board is your like to make numbers. So let's

675
00:35:05,000 --> 00:35:07,279
Speaker 1: just say it's twelve hundred dollars is what you need

676
00:35:07,320 --> 00:35:08,920
Speaker 1: to make in order to buy the materials to do

677
00:35:08,960 --> 00:35:11,399
Speaker 1: your paintings. But ideally you would love to make two

678
00:35:11,400 --> 00:35:14,160
Speaker 1: thousand dollars those in the next three months. So maybe

679
00:35:14,160 --> 00:35:16,319
Speaker 1: you said to yourself, you know, I want to like,

680
00:35:16,800 --> 00:35:20,359
Speaker 1: you know, I have three months because I don't know

681
00:35:20,520 --> 00:35:22,880
Speaker 1: essence fast or invest fast or whatever's coming up, and

682
00:35:22,920 --> 00:35:25,360
Speaker 1: I need my paintings to be ready by then, you know,

683
00:35:25,480 --> 00:35:27,040
Speaker 1: or whatever. I'm just making it up, Like that's why

684
00:35:27,040 --> 00:35:28,920
Speaker 1: you have the three month timeframe. You needed to make

685
00:35:28,920 --> 00:35:30,759
Speaker 1: the twelve hundred because you added up how much pain

686
00:35:30,880 --> 00:35:33,160
Speaker 1: and whatever things you need are going to cost you

687
00:35:33,520 --> 00:35:36,280
Speaker 1: in twelve hundred is what you need to make. Second

688
00:35:36,320 --> 00:35:37,680
Speaker 1: number on the board, what I like to make. It

689
00:35:37,719 --> 00:35:40,680
Speaker 1: would be cute if I could make two thousand. Now, okay,

690
00:35:40,800 --> 00:35:43,279
Speaker 1: a little boost up, a little reach. So that's the

691
00:35:43,320 --> 00:35:47,520
Speaker 1: second number on the board. You with me, Okay, third

692
00:35:47,560 --> 00:35:50,920
Speaker 1: thing on the board is I want you if you

693
00:35:51,040 --> 00:35:53,120
Speaker 1: already have been in business, I want you to write

694
00:35:53,120 --> 00:35:57,240
Speaker 1: down a number of ways you've already made money before.

695
00:35:58,719 --> 00:36:02,200
Speaker 1: So I'd say, you know, I did sell one painting before,

696
00:36:02,960 --> 00:36:08,360
Speaker 1: or I did sell a T shirt before, or you

697
00:36:08,440 --> 00:36:11,400
Speaker 1: know what, my sister's best friend did pay me to

698
00:36:11,600 --> 00:36:13,319
Speaker 1: make a cake. I need you to write down all

699
00:36:13,360 --> 00:36:15,680
Speaker 1: the ways you've made money before. And if you haven't

700
00:36:15,680 --> 00:36:17,600
Speaker 1: made any money because you're brand new, I need you

701
00:36:17,640 --> 00:36:21,279
Speaker 1: to write down ways that people have made money in

702
00:36:21,280 --> 00:36:23,839
Speaker 1: the space that you're in before. I'm not talking about big,

703
00:36:23,840 --> 00:36:26,600
Speaker 1: big ways. I'm talking about people who are similar size

704
00:36:26,600 --> 00:36:30,279
Speaker 1: to me. You're like, Yo, my homegirl, you know she

705
00:36:30,520 --> 00:36:33,839
Speaker 1: sold I don't know, acrylic nails, or she's done retightening

706
00:36:33,840 --> 00:36:37,120
Speaker 1: of hair or whatever that is. So either ways you've

707
00:36:37,120 --> 00:36:40,279
Speaker 1: made money before, or ways that you've seen someone who's

708
00:36:40,320 --> 00:36:42,919
Speaker 1: about at your level has made money before. Okay, write

709
00:36:42,920 --> 00:36:45,520
Speaker 1: down as many ways as possible. You're right, you're ready,

710
00:36:45,560 --> 00:36:49,600
Speaker 1: So remember number one, how many time frame and a

711
00:36:49,640 --> 00:36:52,400
Speaker 1: specific amount that you want to make within that timeframe

712
00:36:52,480 --> 00:36:56,319
Speaker 1: based upon specific goals, not just these random things based

713
00:36:56,440 --> 00:37:00,879
Speaker 1: on specific goals. Two same timeframe, but your stretch goal,

714
00:37:01,800 --> 00:37:03,720
Speaker 1: add another five hundred to it, and add a thousand

715
00:37:03,800 --> 00:37:07,200
Speaker 1: to it. Stretch goal. Three ways that you've already made

716
00:37:07,239 --> 00:37:09,600
Speaker 1: money in this space already, or ways that you've seen

717
00:37:09,640 --> 00:37:11,759
Speaker 1: people who are at your level, very beginner level made

718
00:37:11,800 --> 00:37:14,520
Speaker 1: money in this space. Okay, and so we're doing three

719
00:37:14,680 --> 00:37:17,920
Speaker 1: now three A is now here? Are here are the

720
00:37:17,920 --> 00:37:20,399
Speaker 1: ways that? Cause you can't do all the things right.

721
00:37:20,440 --> 00:37:22,200
Speaker 1: So let's just say you write down ten different ways

722
00:37:22,239 --> 00:37:24,000
Speaker 1: that you've made money in this way before, or you've

723
00:37:24,040 --> 00:37:27,520
Speaker 1: seen people who are beginning make money in this way.

724
00:37:27,680 --> 00:37:30,000
Speaker 1: You can't chase all of them. So you're gonna write

725
00:37:30,000 --> 00:37:33,040
Speaker 1: down these four questions you're gonna ask yourself, and it

726
00:37:33,040 --> 00:37:35,080
Speaker 1: has to say yes to these four for you to

727
00:37:35,080 --> 00:37:37,440
Speaker 1: decide if maybe you're gonna do it. One you have

728
00:37:37,480 --> 00:37:42,239
Speaker 1: to ask yourself, like ideally, you know, oh, I think

729
00:37:42,239 --> 00:37:44,200
Speaker 1: it's three questions really but really r Like I said,

730
00:37:44,560 --> 00:37:47,680
Speaker 1: have you made money in this way before? Right? Have

731
00:37:47,760 --> 00:37:49,960
Speaker 1: I made money in this way before? Or have I

732
00:37:50,040 --> 00:37:52,319
Speaker 1: seen someone who is very beginning make money in this way?

733
00:37:52,360 --> 00:37:54,520
Speaker 1: Cause we wanna know is it possible? We're not guessing

734
00:37:54,560 --> 00:37:57,200
Speaker 1: out here. Now, this is not your life business plan

735
00:37:57,320 --> 00:37:59,399
Speaker 1: ten year plans for this is a make money now

736
00:37:59,440 --> 00:38:01,680
Speaker 1: planning the next three months, right or four months or whatever?

737
00:38:02,280 --> 00:38:04,319
Speaker 1: Have I made money like this before? Have I seen

738
00:38:04,360 --> 00:38:08,000
Speaker 1: a beginner make money like this before? Yes? Moving along? Two?

739
00:38:08,400 --> 00:38:11,239
Speaker 1: Can I do this by myself? Because one of my

740
00:38:11,280 --> 00:38:13,120
Speaker 1: friends he was like, oh, if I only had a team,

741
00:38:13,160 --> 00:38:15,239
Speaker 1: I'm like, what that's like saying? If I only had

742
00:38:15,280 --> 00:38:19,640
Speaker 1: a magic wand duh, if we all have humongous teams,

743
00:38:19,680 --> 00:38:22,359
Speaker 1: if we only had a million dollars, if we only

744
00:38:22,440 --> 00:38:24,080
Speaker 1: had no worries, if I only could eat cake, can

745
00:38:24,160 --> 00:38:26,360
Speaker 1: I get fat? I mean, what are we saying? Of course?

746
00:38:26,719 --> 00:38:29,680
Speaker 1: But you don't got none of them things? So step

747
00:38:29,719 --> 00:38:32,359
Speaker 1: two is can I do it without a team? Can

748
00:38:32,400 --> 00:38:34,279
Speaker 1: I do this by myself? Like I said, this is

749
00:38:34,320 --> 00:38:38,120
Speaker 1: not a forever plan. This is just in the moment

750
00:38:38,239 --> 00:38:41,560
Speaker 1: plan so I can get to my first major financial goal.

751
00:38:42,120 --> 00:38:44,520
Speaker 1: You know, can I do this by myself? When I

752
00:38:44,520 --> 00:38:46,480
Speaker 1: first the first six seven years, by Jesus, it was

753
00:38:46,560 --> 00:38:49,560
Speaker 1: me myself and not that's all I got to the end,

754
00:38:50,080 --> 00:38:51,960
Speaker 1: and I don't know that. Okay? Can I do it

755
00:38:51,960 --> 00:38:54,759
Speaker 1: by myself? That's question number two? If you can't do

756
00:38:54,800 --> 00:38:57,160
Speaker 1: it by yourself. Like, if you're fortunate, then maybe you're

757
00:38:57,280 --> 00:39:00,359
Speaker 1: your significant others helping and maybe you got assist helping.

758
00:39:00,360 --> 00:39:02,680
Speaker 1: Great Q for you, but in large part for most

759
00:39:02,680 --> 00:39:04,920
Speaker 1: of us, can I do this by myself? To start?

760
00:39:05,840 --> 00:39:09,439
Speaker 1: Third question, can I is this possible within a time frame?

761
00:39:09,719 --> 00:39:11,560
Speaker 1: Because sometimes what I will find, especially with a new

762
00:39:11,600 --> 00:39:14,440
Speaker 1: entrepreneurs so I'll have these huge ideas, but that's a

763
00:39:14,520 --> 00:39:18,880
Speaker 1: five year plan. Bro were talking about five months from now, Max, Like,

764
00:39:18,920 --> 00:39:20,520
Speaker 1: don't give me no five year plan. You don't have

765
00:39:20,560 --> 00:39:23,040
Speaker 1: no money coming in tomorrow, Like you might not be

766
00:39:23,080 --> 00:39:25,640
Speaker 1: here in five years to see that through. Can I

767
00:39:25,680 --> 00:39:27,440
Speaker 1: do this within my time frame? I would not make

768
00:39:27,440 --> 00:39:29,479
Speaker 1: a time frame more than five months, honestly, I'm looking

769
00:39:29,560 --> 00:39:32,759
Speaker 1: like three months on the average that timeframe, you know, Like,

770
00:39:32,800 --> 00:39:35,839
Speaker 1: can I do this within the timeframe? Is that possible? Yes?

771
00:39:35,920 --> 00:39:37,520
Speaker 1: I can bake a cake and sell a cake within

772
00:39:37,520 --> 00:39:41,399
Speaker 1: three months? Okay, there you go. And then fourth is

773
00:39:41,880 --> 00:39:44,000
Speaker 1: do I not have to come out of pocket? Really?

774
00:39:45,080 --> 00:39:49,439
Speaker 1: Or is it nomenal? Meaning like hmm, like what can

775
00:39:49,520 --> 00:39:52,240
Speaker 1: I do to keep my cost as low as possible

776
00:39:52,239 --> 00:39:54,879
Speaker 1: because I don't have any money? You know, like maybe

777
00:39:55,000 --> 00:39:56,560
Speaker 1: baking a cake You'm like, oh, I do have to

778
00:39:56,600 --> 00:39:59,399
Speaker 1: spend a little bit of money to start. Well, what's

779
00:39:59,480 --> 00:40:01,279
Speaker 1: cheaper than the ca Hey? Are cookies cheaper than cakes?

780
00:40:01,320 --> 00:40:03,399
Speaker 1: I could sell that instead, you know what I mean?

781
00:40:04,000 --> 00:40:07,040
Speaker 1: Or can I do pre orders of these cakes instead

782
00:40:07,120 --> 00:40:09,520
Speaker 1: for people who already eating cakes from me? Can I

783
00:40:09,560 --> 00:40:11,440
Speaker 1: do it without taking much money out of pocket or

784
00:40:11,520 --> 00:40:13,000
Speaker 1: zero money out of pocket? You see how you have

785
00:40:13,040 --> 00:40:15,040
Speaker 1: to be clever. So those are the fourth questions you're

786
00:40:15,040 --> 00:40:18,960
Speaker 1: asking Under number three, Have I done this before? Made money?

787
00:40:19,000 --> 00:40:21,319
Speaker 1: Because you want to? I don't want you guessing, So

788
00:40:21,440 --> 00:40:24,800
Speaker 1: that is your preliminary I ain't never made no real money.

789
00:40:25,000 --> 00:40:27,239
Speaker 1: I'm still super new in business. Or you've been in

790
00:40:27,280 --> 00:40:30,080
Speaker 1: business for a while, but you're not really sure, like

791
00:40:30,120 --> 00:40:31,799
Speaker 1: you know why you're not making no money? That is

792
00:40:31,840 --> 00:40:38,520
Speaker 1: a preliminary income plan. Ain't that good job? I'm not

793
00:40:38,560 --> 00:40:42,759
Speaker 1: gonna lie. I'm smart, you know, but for real, that's

794
00:40:42,760 --> 00:40:44,960
Speaker 1: a preliminary plan. And when I told it to my

795
00:40:45,120 --> 00:40:47,800
Speaker 1: two and I've got about three male menties everybody else's

796
00:40:47,840 --> 00:40:49,920
Speaker 1: like women, and I told it to them, they were like,

797
00:40:49,920 --> 00:40:52,040
Speaker 1: oh my gosh, I could do that. Right away, they

798
00:40:52,080 --> 00:40:54,680
Speaker 1: started texting me like, Yo, here's all the fees that

799
00:40:54,719 --> 00:40:56,600
Speaker 1: I have to pay, and so I know my number

800
00:40:56,800 --> 00:40:59,919
Speaker 1: thirty eight hundred dollars. I know my number twelve hundred dollars. Okay,

801
00:41:00,480 --> 00:41:02,279
Speaker 1: in three months, I really have to have it done

802
00:41:02,360 --> 00:41:05,279
Speaker 1: or this thing expires. Okay, but my stretch numbers, I

803
00:41:05,280 --> 00:41:08,279
Speaker 1: would love to make forty five hundred dollars. Okay, here

804
00:41:08,320 --> 00:41:10,400
Speaker 1: are the three ways that I've made money before. Then

805
00:41:10,400 --> 00:41:12,160
Speaker 1: we started to look at those ways. Once those ways

806
00:41:12,160 --> 00:41:15,959
Speaker 1: answer those four questions, Boom, I've made money like this before.

807
00:41:16,000 --> 00:41:18,200
Speaker 1: I've seen someone do it. Boom, and don't take more

808
00:41:18,239 --> 00:41:21,520
Speaker 1: money out of pocket or very little Boom. I could

809
00:41:21,520 --> 00:41:23,400
Speaker 1: do it within a timeframe. Boom, I could do it

810
00:41:23,400 --> 00:41:26,000
Speaker 1: by myself and answer those questions. Then we started to,

811
00:41:26,080 --> 00:41:27,960
Speaker 1: like I said, let's put some money, more money on

812
00:41:28,000 --> 00:41:30,279
Speaker 1: the board. Once you start to you look at your

813
00:41:30,320 --> 00:41:32,520
Speaker 1: list of number three, you start to eliminate those things though,

814
00:41:32,520 --> 00:41:35,440
Speaker 1: don't say yes to those four questions. And then I

815
00:41:35,480 --> 00:41:38,640
Speaker 1: started to say, okay, you sold merch before we told

816
00:41:38,640 --> 00:41:42,160
Speaker 1: me that the merch made you two hundred and fifty dollars.

817
00:41:42,280 --> 00:41:43,960
Speaker 1: Can you put merch down for five hundred? I think

818
00:41:44,000 --> 00:41:45,840
Speaker 1: if you did two fifty on some old la la

819
00:41:45,960 --> 00:41:48,120
Speaker 1: la la, I think you do five hundred in three

820
00:41:48,120 --> 00:41:50,120
Speaker 1: months if you did two fifty in one month. He

821
00:41:50,200 --> 00:41:52,040
Speaker 1: was like, yes, So now we're starting to cross things

822
00:41:52,080 --> 00:41:55,280
Speaker 1: off the board because you want to make three thousand dollars. Okay,

823
00:41:55,520 --> 00:41:58,759
Speaker 1: you already down like we've already made we can put

824
00:41:58,800 --> 00:42:00,839
Speaker 1: merch down for five hundred dollars. So now you're down

825
00:42:00,880 --> 00:42:02,440
Speaker 1: to twenty five hundred dollars that needs to be made.

826
00:42:02,480 --> 00:42:05,920
Speaker 1: What else I could do speaking? Okay? Because before he

827
00:42:06,000 --> 00:42:09,200
Speaker 1: was like, oh, I don't know how many speaking engagements

828
00:42:09,280 --> 00:42:11,919
Speaker 1: A how I should charge for speaking engagement? But now, bruh,

829
00:42:12,000 --> 00:42:14,279
Speaker 1: I said, look, if it was me, I'm looking at

830
00:42:14,320 --> 00:42:15,759
Speaker 1: the board, I'm looking at the people who want me

831
00:42:15,800 --> 00:42:17,960
Speaker 1: to speak. You let them know I would love to

832
00:42:17,960 --> 00:42:20,480
Speaker 1: make fifteen hundred, but in your mind you might take

833
00:42:20,520 --> 00:42:23,319
Speaker 1: six or seven hundred, okay, And so you might even

834
00:42:23,360 --> 00:42:24,840
Speaker 1: push to say, you know, do you have a budget

835
00:42:24,880 --> 00:42:26,920
Speaker 1: of two thousand? If they push back to fifteen or

836
00:42:26,960 --> 00:42:30,960
Speaker 1: at least one thousand a thousand, damn, you already halfway done.

837
00:42:31,120 --> 00:42:32,879
Speaker 1: Cause he said, there's some speaking people who have asked

838
00:42:32,920 --> 00:42:34,600
Speaker 1: him to speak, and he's always been like, oh no,

839
00:42:34,640 --> 00:42:38,120
Speaker 1: I'm like, get your no less than five hundred, push

840
00:42:38,160 --> 00:42:40,200
Speaker 1: for at least one thousand dollars, you know, but ask

841
00:42:40,200 --> 00:42:43,120
Speaker 1: for maybe twenty twenty five hundred. See what they say.

842
00:42:43,239 --> 00:42:45,560
Speaker 1: So he was already like, yo, okay, march down for

843
00:42:45,600 --> 00:42:48,759
Speaker 1: five hundred, speaking down for fifteen hundred. Boom, Now we're

844
00:42:48,760 --> 00:42:51,959
Speaker 1: at two thousand, other three thirty five hundred that you need, boy,

845
00:42:52,080 --> 00:42:54,799
Speaker 1: you know, and so slowly but surely. You see how

846
00:42:54,800 --> 00:42:56,759
Speaker 1: you go from I don't know what I do to

847
00:42:57,200 --> 00:43:01,440
Speaker 1: boom boom boom boom boom boom boom, let's go. Well

848
00:43:01,560 --> 00:43:03,160
Speaker 1: that was first ices in that When I was a kid.

849
00:43:03,480 --> 00:43:05,319
Speaker 1: I'm like, do you remember that song? Boom boom boom,

850
00:43:05,360 --> 00:43:07,000
Speaker 1: Let's go back to my room. So I was like

851
00:43:07,040 --> 00:43:10,480
Speaker 1: in second grade anyway. But you see how you go

852
00:43:10,840 --> 00:43:14,960
Speaker 1: quickly from like here, it's an actuable income plan that

853
00:43:15,040 --> 00:43:18,520
Speaker 1: I can do today. Is that really helpful? Because then

854
00:43:18,560 --> 00:43:21,239
Speaker 1: you can start assigning amount that you believe you can make.

855
00:43:21,440 --> 00:43:23,880
Speaker 1: That's why asking yourself the question have I made money

856
00:43:23,880 --> 00:43:26,520
Speaker 1: in this space before? Because then you can say if

857
00:43:26,520 --> 00:43:28,560
Speaker 1: I was able to make two hundred, maybe I can

858
00:43:28,600 --> 00:43:31,520
Speaker 1: make four. Or if my friend or someone who I

859
00:43:31,520 --> 00:43:33,719
Speaker 1: saw do it, you know, I see that they if

860
00:43:33,760 --> 00:43:35,880
Speaker 1: I can estimate they made about a thousand. Maybe I

861
00:43:35,880 --> 00:43:38,320
Speaker 1: could do two thousand. You see what I mean. So

862
00:43:39,280 --> 00:43:40,880
Speaker 1: I hope that was helpful. You know, I love me

863
00:43:40,960 --> 00:43:44,560
Speaker 1: some personal finance, but I also love some business. So

864
00:43:44,880 --> 00:43:48,400
Speaker 1: here's the thing. Here's the thing. When you started a friends,

865
00:43:48,440 --> 00:43:50,160
Speaker 1: if you want me to mentor you, which you know

866
00:43:50,239 --> 00:43:53,200
Speaker 1: you do? No, you no, you no, you know you do.

867
00:43:53,960 --> 00:43:57,279
Speaker 1: I actually have a mentorship program called mymntor Tiffany dot com.

868
00:43:57,320 --> 00:44:00,600
Speaker 1: We use this platform called Patreon, and it's twenty bucks

869
00:44:00,600 --> 00:44:02,879
Speaker 1: a month. It's like two sixteen for the year, because

870
00:44:02,880 --> 00:44:04,200
Speaker 1: I think you get like ten percent off if you

871
00:44:04,200 --> 00:44:06,719
Speaker 1: pay for the year. And the benefit if you pay

872
00:44:06,760 --> 00:44:08,680
Speaker 1: for the annual is when I come to your city.

873
00:44:08,719 --> 00:44:10,560
Speaker 1: So whenever I go to a city, I try my

874
00:44:10,600 --> 00:44:13,000
Speaker 1: best to have a mentee dinner with about twenty to

875
00:44:13,040 --> 00:44:15,719
Speaker 1: twenty five women as much as a restaurant will allow,

876
00:44:15,760 --> 00:44:17,960
Speaker 1: which usually they cap it at twenty five, and then

877
00:44:18,000 --> 00:44:20,440
Speaker 1: we have dinner together and we get to like introduce

878
00:44:20,440 --> 00:44:22,799
Speaker 1: ourselves to each other, share our businesses. I mean, it's

879
00:44:22,880 --> 00:44:25,239
Speaker 1: just an amazing time. Like in Maryland it was about

880
00:44:25,239 --> 00:44:27,560
Speaker 1: twenty two of us. It was awesome. But if you

881
00:44:27,560 --> 00:44:30,600
Speaker 1: pay annually, I set aside the first half of the

882
00:44:30,640 --> 00:44:33,880
Speaker 1: tickets for annual members to because it always sells out.

883
00:44:34,000 --> 00:44:35,600
Speaker 1: I set aside the first half of the tickets that

884
00:44:35,640 --> 00:44:37,799
Speaker 1: they get to buy first, and then I leave it

885
00:44:37,840 --> 00:44:39,480
Speaker 1: like I open up to the rest of the mentees.

886
00:44:39,560 --> 00:44:41,920
Speaker 1: That's the benefit of being an annual member. You get

887
00:44:41,920 --> 00:44:44,040
Speaker 1: ten percent off and you get access to things before

888
00:44:44,360 --> 00:44:48,160
Speaker 1: everybody else because it always always sells out. So yeah,

889
00:44:48,160 --> 00:44:50,000
Speaker 1: if you want to join you on a twenty bucks

890
00:44:50,040 --> 00:44:53,239
Speaker 1: a month, my mentor Tiffany dot com, I don't talk

891
00:44:53,239 --> 00:44:55,440
Speaker 1: about personal finance there. Don't come there like I need.

892
00:44:55,920 --> 00:44:58,040
Speaker 1: I have to live richer Academy dot com for that.

893
00:44:58,080 --> 00:45:02,759
Speaker 1: If you want a personal finance you know courses. But

894
00:45:03,000 --> 00:45:07,560
Speaker 1: my mentor Tiffany is really me mentoring you in business. Okay,

895
00:45:08,480 --> 00:45:10,879
Speaker 1: So hopefully that was helpful. I know that was kind

896
00:45:10,880 --> 00:45:13,920
Speaker 1: of around or word, but I just know that was

897
00:45:13,960 --> 00:45:16,560
Speaker 1: really helpful for them, and you know, hopefully that was

898
00:45:16,560 --> 00:45:20,000
Speaker 1: helpful for you. And I will see you at the

899
00:45:20,040 --> 00:45:24,040
Speaker 1: next b a q a A b a q A

900
00:45:24,200 --> 00:45:26,640
Speaker 1: wit to say the b a q A with Tiffany

901
00:45:26,840 --> 00:45:30,919
Speaker 1: the b a q A see your next Friday. All right, bye, y'all,

902
00:45:32,080 --> 00:45:34,720
Speaker 1: Hey ba fam. We could not do this show without

903
00:45:34,880 --> 00:45:37,960
Speaker 1: your support or the support of our team behind the scenes.

904
00:45:38,320 --> 00:45:41,640
Speaker 1: The brown Enviision podcast is produced by Imani Crosby and

905
00:45:41,719 --> 00:45:44,960
Speaker 1: Dennis and Plinsky is our in house tech guru. I

906
00:45:45,120 --> 00:45:47,719
Speaker 1: am your co host Mandy Woodrif Santos, and we will

907
00:45:47,719 --> 00:45:51,840
Speaker 1: see y'all next week. Ba Fam