Nicole Lappin
speaker
4,192 appearances
114 recordings
2 series
first heard Nov 2024
last heard 9 Dec
Nicole Lappin’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Nov 2025 with 2.
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stymied and like sort of struck with inertia around it yeah I think maybe that's why I'm a little why I'm playing with compound interest calculators less for myself I think maybe it's creating a little bit of like avoidant behavior around talking about long-term planning
No, it's a really good point.
Yeah. I think something that I would like to do that I haven't done yet is think about how I can build – wealth where my kids can go to whatever college that they want to and not have to worry about financial aid being a big factor. And so I haven't really taken a look at, you know, when I went to Skidmore, tuition was $60,000 a year. It's probably more now.
And so I think something that would be useful to me would be to like think, okay, so that's like $240,000 for one kid, we will maybe have, I don't know, one or two. And so having that saved, I think would be a good goal. Okay. Saved and have it not be our life savings.
Like saved in a way where it's like we can spend that on education and we won't have to, you know, sell our house or like we can still have the life that we want, but also spend that money on college for kids.
I think it's different for him. I think he would probably have a higher number than I would. And not to do... anything differently necessarily, but just to have it in the bank. It's not that he wants to buy a fancy house or go on a crazy vacation or anything specific like that. I think for him, it's more about being like, I know my net worth is X and that feels like wealth to me.
Yeah, I started investing when I started working with you. I had a 401k at my old job, but I didn't know what it was doing or what it meant. So I wouldn't, even though that was technically an investment, I wouldn't really count that because I didn't set up the account or know what it was doing or anything like that. And so I think that...
It is interesting because while I am doing some of the like quote unquote right things, I am not thinking about it as strategically as I think that I should and could. And now is probably the time to start doing that. Especially since it's like, I do feel like a bigger... sense of responsibility and accountability now that I have a joint account.
And it's like, this is, you know, financial planning for like two people and a family. And so I need to be more thoughtful because even though I'm not doing nothing, I can should probably have my goals a little bit more defined and play with compound interest calculators more.
Yeah. I think that that all feels good. very doable. And it does feel I don't know, it just it just feels like it makes sense. I feel like I didn't even realize because I felt like I was doing the right things. I didn't realize that I was also kind of doing it in a bit of a blind way. So I think those steps don't feel scary. They feel very reasonable.
And I, I do feel like they can be motivating, like you said, like, get myself more excited about wealth building and that it's not a dirty word.
I feel good. I feel good. Jack and I are going to dinner with his mom tonight. Otherwise, I would say tonight we'll talk about it. So maybe we'll talk about it over the weekend. Over the weekend, we were thinking about going out to dinner because it's our almost one month anniversary of being married.
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I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. Today, we're diving into one of the sneakiest villains in our financial world, lifestyle creep or lifestyle inflation. You know the drill. Your paycheck goes up and suddenly so do your expenses.
That bigger paycheck somehow feels like it's not stretching any further and you're wondering why you're still living paycheck to paycheck. Big problemo. But we don't do problemos. We do solutions here on Money Rehab with the help of Bank of America, whom I'm teaming up with for this episode. And today we're not going at it alone.
I've invited one of you, our fabulous listeners, to chat about a recent raise and how to dodge lifestyle creep like the financial pro they're about to become. So let's bring in our guest, Joe. Well, Joe, welcome to Money Rehab.
So you're here because our producer sent out an email about lifestyle creep, the phenomenon when we make more, but we don't keep more. And you responded, hello, that is me. Absolutely. That's right. Okay. So we're stoked to be talking about this. I think it's a really important topic. It's really common and it's extremely figureoutable. Let's try to figure it out together.
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