Vivian Tu
Appearances
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
But it really was just, I don't even like the phrase dumbing down, but making it digestible. All of this personal finance jargon and this state-kept community around money. For the first time, my friends saw someone who looked like them, ate their lunch at the same table, always needed to get a fro-yo break at 2 p.m. in the afternoon. I was a normal person who wasn't wearing a suit.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Yeah.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
I think traditionally we've been taught you work harder, you make more money, right? Like we all know it's like you do more, you get more. Great. But our bodies and our brains can only feasibly work for, let's call it on average, 16 hours a day before you're kind of like there's diminishing marginal returns. You're really starting to burn out. You're exhausted.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
You're physically and mentally doing badly. So your body and your mind is frankly not that good of a money-making tool because it can't work around the clock. And rich people know this. They know the thing that can work around the clock, though, is their money. Their money can work 24-7, doesn't need a lunch break, doesn't need anything to sit down and relax for a second.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Your money can work all the time. And so what I say is investing... and making your money work hard for you is the easiest way to be a two income household, even if you're single, because you can sit back on your couch and eat potato chips while your money continues to work for you, even if you're not laboring for money.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And the ultimate quickie equation is at the beginning of your career and your adult life, you are working hard for your money. You have a job, you're trading your time, your effort, your energy for money.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And if you are mindful of that money coming in and you're able to set some of it aside so that money can work hard for you by investing, then over time, if your total income and money is a pie chart, the amount you get through labor becomes smaller and smaller and smaller. And the amount you get through investing or through your money working hard is bigger and bigger and bigger and bigger.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Proportionally, you'll get to spend less time working, more time chilling while still having just as much, if not more money coming in the door.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Yeah. And I think we already do this so often in our everyday lives that people can often feel like with finances, it's very intimidating. But I encourage people to think about it like this. On your Outlook or Google Calendar, you are able to set recurring events. And for me, I would set things like a recurring event every single month to go schedule time to go get my nails done.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Or I would schedule time every two weeks to make sure I washed my sheets because that's kind of gross, Vivian. But in the same way that you're scheduling time to wash your sheets or find a little self-care moment, you can truly practice the best form of self-care, which is today you taking care of future you. Set up a recurring reminder to do something.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And even better, just set up that recurring reminder and then set it up through your brokerage or through a savings account like you mentioned to have that money automatically pull out of your paycheck. And that way, you don't even have to think about it. You just know it's happening.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
I always say this, like people oftentimes, especially people of color, women, people who come from marginalized communities, immigrants, LGBTQ communities. There's this sense that if you don't have like an altruistic reason for wanting more, wanting something, that you're a bad person. And I said on another podcast I was on, I was joking. I was like, I am motivated by nothing but money. Right.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And I know that sounds quite crass, but frankly, that money isn't just so that I have $100 bills and a bathtub that I can dive into or sit on a golden throne. That money means I have resources. It means I can take big opportunities. I can swing big and shoot for the fences. It means that I have... the freedom to make decisions out of a place of abundance versus a place of scarcity.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And a couple silly, but also very serious examples I give is like when you have money and you've just gotten your hair blown out and you're coming out of the subway and you realize that it's absolutely torrentially downpour raining, you don't have to be shy about spending that extra money on the umbrella from the street hawker or the extra money to get an Uber to get to your destination so you can stay dry.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And that's a silly example. But a serious one is when you have money in the bank, when you have an emergency fund, when you are financially secure, you can take that new scary job that is going to offer you better pay, better equity, and better benefits. Maybe you otherwise wouldn't have taken that job because you're like, hey, is there job security?
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
I've been in this current job for almost five years. Maybe I should shut my mouth and be happy with what I have. It's like, no, having money allows you to take those opportunities. And on the very, very dark end, having money allows you to escape a financially abusive relationship.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
It allows you to be able to get up in the middle of the night and say, I don't need to be here because I can provide for myself financially. Because there are so many examples of financial abuse where people don't feel like they can leave toxic relationships because they don't have the means to logistically do so. So money can be your why, baby. Let it be your why.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Up or out, baby, you get two years because there is actually a study done that if you do not switch jobs and or get a meaningful raise every two years, you will make 50% less over your lifetime. I can't afford to make half as much. I don't think anybody out there can right now. So here's my thing. If you are not getting...
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
A 15% raise and potentially a promotion every two years, you need to look externally because that's where you're going to be able to get 15% and you need it.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
If they're not money motivated, like what does motivate them? Maybe it's a flexible working arrangement. Maybe it's the ability to go on better vacations. Maybe it's the ability to move to a different state. Like whatever you're motivated by, make sure you're getting that out of life.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
But frankly, at this point in our socioeconomic climate, I don't understand how someone could not be money motivated because eggs cost $12, right? The cost of living crisis is truly astronomical. I mean, it is cheaper to rent than buy in 70 percent of all U.S. markets.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
So when you say things like they're not money motivated, they may not have to be right now, but they're going to have to be eventually. That's going to be a problem when everyone else has been jumping jobs and leveling up and getting all these other skills and opportunities and their salaries have increased. Your friends who don't get these increases are
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
will then not even know what they should be asking for down the line when they have to make that decision out of necessity. I would say make a decision when you are in a comfortable spot versus when you are up against the wire because you want to make sure, again, you're making choices out of a place of abundance.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
I actually do walk people through it step by step with the actual texts. So like the email that you send your boss, this is exactly what you put on his calendar. This is exactly what you put on her outlook. This is what you do so that you are ready to have that conversation and make that request. I think oftentimes we can feel a little bit inferior when making that ask.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
We get very nervous, but we have to remember that money's not coming out of our boss's pocket. That money is coming out of a business banking account that is set up for labor costs. You are not the first person to ask for a raise and you are not the first person to get one. And you sure won't be the last person to do either of those things either.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
The easiest way to help overcome some of that is to have a brag book. Essentially, you make a folder in your email where you forward any of the messages. positive accolades. So a client says, wow, we couldn't have done it without Sean. Or an internal team is like, Sean is so amazing. Sean increased XYZ revenue by 35%. Forward all of those emails to that folder.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And then when it comes time for a mid-year review or an end of year review, or when you're going to go make those kind of scary asks, You literally have a laundry list of all of the times you knocked it out of the park and you have quantifiable measures of your success to then tie back as to why you deserve that money.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And as I like to say, when you have the receipts, you're going to feel a lot more confident making those asks.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
I don't think everybody should be like hashtag hustle core, like we should always be working. That's not it at all. But I do think side hustles are a really great way if you need a short-term cash infusion. So what I mean by that is, hey, you're saving for a car or your wedding or a down payment on a home.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
All of those things are a great opportunity to leverage a side hustle to make more money in the short term. Side hustles do not have to be permanent. You can do them for six months, 12 months, whatever you want.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And I find that if you do a side hustle that has low costs, low barriers to entry, that is very different from what you do during the day and allows you to take advantage of your free time and does not stress you out with the other work that you already have to do. It can be an actual pretty enjoyable way to make that extra cash.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
I'm not saying we should all enjoy working ever, but I do believe that having a side hustle that doesn't cost you money, a side hustle that you can do with other parts of your brain, flex different muscles, it's a great way to really just get some extra cash in the short term.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Yeah, I think it's critically important for you to talk to your friends about how much you guys make, because we've been told for so long that talking about money is rude and tacky and taboo. But I'm telling you right now, rich people love talking about their money.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And if you talk to your friends about how much you guys are making, what you're demanding in terms of salary at work, the only people that are hurt by this are the corporations, right? You guys are going to be able to ask for more money, demand your worth and get better benefits all just for having had a 15 minute conversation. So please don't be shy. Talk to your friends about money.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
It is not illegal. If anybody tells you that they're wrong, like you can definitely talk about your money.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Of course. Thank you so much for having me.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Thank you so much for having me.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Yeah, I think I very much got that crash course, right? I grew up in an immigrant family to two loving, but very frugal Chinese parents. And there was this huge emphasis placed on saving and scrimping and using money when it was only necessary, like truly, truly last resort. But then for me to...
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
get to my very first job after going to a school like the University of Chicago, where there are so many children of millionaires and billionaires who are my peers. I was kind of being introduced to a world that I had never grown up with or had never seen before. And when I got to Wall Street,
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
it became abundantly clear to me that really rich people were not focused so much on avoiding the avocado toast or the daily latte. They were really focused on growing their wealth. And I feel very lucky because having that experience is probably what Gave me a personal finance education that the vast majority of people don't get.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
Even if you have a parent or a mentor, someone who is in theory like good with their money, they may not necessarily be getting kind of like the peek behind the curtain of like how the actual sausage is made and what people who are making a lot of money are actually doing with it to manage it well.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
A thousand percent. A thousand percent.
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
So when I left Wall Street and went to digital media strategy sales, all of my new coworkers were like, all right, Wall Street, like, come on, you came from this job, like you're fancy. Explain to me, should I be buying the company stock options or which health insurance plan did you pick? How does a 401k work and what are you investing in and yours?
NerdWallet's Smart Money Podcast
Net Worth and Chill: How Your Wealth Measures Up and Vivian Tu’s Tips for Financial Success
And I got the same questions over and over again to the point where I was like, oh, this is so annoying. I'm answering this for the eighth time. Let me just make a video about it and I'll put it on the internet. Haha, my seven friends will watch this. Turns out a couple more people than my seven friends at work needed it and saw it.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah, I think for a really long time, a lot of us have just wanted to be heard or even seen. And traditional financial media has very much catered to folks who look like Scott and probably have as much money as he does. I joke. But transparently, like, it really hasn't offered much to women, to people of color, to young people, people who grew up low income, immigrants, anything of that nature.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
And It's really hard to find good, reputable information in this space because when you Google the words Roth IRA, you get 3 million hits. And if you don't know what you don't know, you really don't know which of these links to even click. So it's really hard to begin that journey because jargon is so rampant in the financial news media that we're seeing in writing, on TV, everywhere.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
But what Your Rich BFF does essentially is it is a financial equity platform that's breaking down this information for the next generation so that everybody can have access to it and then implement it into their daily lives. It's actual usable, actionable tips versus, oh, in theory, this could happen. It's, you know, this is how you actually make your life better.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah, the big concept behind it is, you know, my friends had come to me for this kind of information, for these tips, for this advice. And the whole premise, everybody focuses so much on rich, but the real word that we should be focusing on is BFF. I'm not lecturing you like a college professor. I am not talking to you like I'm a parent.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
I'm not talking to you like I'm better than you, smarter than you, richer than you. I'm talking to you as a friend. What advice would a rich friend give you in this arena if they wanted to see you succeed, if they wanted to see you do well? Excellent. Scott?
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah, I think with terms of like asset allocations, what I typically recommend is you take your age and you round to the nearest 10s, so 10s, 20s, 30s, 40s, 50s, and then you actually subtract by 10 again. So this person is in their 50s, we are minusing that number by 10 again, so 40, and that is what percentage of your portfolio roughly should be in fixed income assets.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
whereas the rest of it should actually still be in the public equity markets. So stocks in particular, I recommend broader index funds through ETFs with the lowest possible expense ratios. The reason I say this is just because now that they're in their 50s, even if they are feeling a little behind, they don't have to feel like the world is ending.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yes, they want to do some sort of preservation of their existing wealth so that they're going to have money to draw from in their later years, but also still having more than 50% of your portfolio in the public equity markets allows you to participate in that continued growth. Odds are good, the second they turn 59 and a half, they're not going to need every single dollar in that account.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
So this just gives them a chance to have a portion of their money continuing to work pretty hard, while another portion of it is still set aside because they are getting closer to retirement. And the other big hot tip that I would encourage them to think about is catch up contributions for everybody who is above 50 and starting to get a little closer to retirement.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
You can actually contribute more to your individual retirement accounts, whether they be of the traditional or Roth variety or your employer sponsored accounts than the average person could. That's younger than that. And it just gives them a chance to literally catch up.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah. I mean, just going off of what he has openly said, realistically, we're going to see corporate tax cuts. We're going to see rollbacks on regulation. We are already seeing one of the richest, most money cabinets ever. ever, period. And what is problematic to me about this is this is very much going to see a further K-shaped diversion between the have and have-nots.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Folks that are already investing are going to be able to participate in These profits, right? Because when corporations are given tax breaks and are rolled back on regulation, they're going to prioritize one thing and one thing only. They're going to make money. They are going to do right by their shareholders, which is excellent if you are a shareholder.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
But when we actually look at the distribution of wealth of who is actually investing versus who isn't, It's much easier when you have discretionary funds to invest. If you are more worried about buying apples than Apple, like you're not going to be participating in that upward growth. So we're going to see.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah, but it could cost more. Oh, well, like that's really unfortunate because when you actually think about how rich people and broke people spend, and I say that like very glib tongue in cheek, but like we still all have to buy some of the same things, right? Like Regardless of if you're super moneyed or not, you're buying toilet paper.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
But the ultra luxurious organic triple ply toilet paper is probably only a couple dollars more than the crappy generic brand. That's one ply. We all still have to buy it. And unfortunately...
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
These tariffs are going to make toilet paper a much larger portion of someone who is a lower income individual, a larger portion of their paycheck than it is versus someone who is in the higher net worth area. So we're going to see people in the bottom 50% really struggle with their cost of living.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
They're realistically not always going to be able to invest because they don't have those discretionary funds. Shit's going to get tough, for lack of a better phrase. But for the top 50%, especially people who are high net worth, this is going to be a golden era of moneymaking.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
They absolutely think that. Well, I just think that, like, this election, generally speaking, was... The people who are voting for both parties, we voted against our own best interests. Only one specific set, though, knew that we were doing that, right? So you're talking about these coastal elites voting blue, realistically having more money, being closer to that.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
And frankly, Scott's probably right. 50% is incredibly generous. The top 10, top 1% of folks voted. A lot of them voted for Kamala Harris well against their own best interests, knowing that we would be taxed more. I, you know, transparently voted that way. But I have family and relatives who voted the opposite side, and they're trying to tell me that they are going to benefit.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
And I said, no, people like me, people who a huge portion of my annual income like monies comes from investments, not just my labor. I am going to benefit, not you. And I think it's a hard conversation to have, especially around the Thanksgiving dinner table with family, with friends. But like, I think we all voted against our best interests, financially speaking.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
It is. So I got very lucky. I will say luck has quite a lot to do with it because my very first video went viral. That is very strange. That doesn't happen for most people. But my first video ended up getting 3 million views on TikTok. And from there, I continued to post every single day.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
I will say this is one of the things that I'm most proud about myself is that I took my Wall Street work ethic where I cut my teeth and put it into this, into Your Rich BFF. So I When people were getting tired and saying, I don't feel like making a video today, I kept churning them out. And so now I have a very diversified business.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
I'm very proud of that because I think a lot of us struggle with the idea of like the I word, influencer. It's like you turn out a bunch of brand deals and then suddenly within two years, people have forgotten about you. I've diversified my business so that, you know, still the lion's share of my income comes from branded partnerships.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
I get paid directly from platforms for creating content that gets a lot of eyeballs. I get paid to speak. I got a book advance for my first book, just signed for my second one. My podcast itself has ads on it. And then in addition to that, currently working on a tech platform that is going to be direct to consumer. That's still not ready to be rolled out yet, but I did want to tease that here.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
So there's just a lot of ways that I make money. But to help people with financial tools and things like that.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah. You know, I think brand partnerships is still the lion's share of my income. It has grown very much so this year, especially as people have become, I would say, more financially aware. Even brands that normally wouldn't target a financially minded audience are like, okay, like, how do we speak to people now that everybody's worried about their wallet, what's in it and what is not in it?
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
So brand partnerships, but also speaking, I would say, sale of my first book with that launch, you know, hitting the New York Times bestseller list, suddenly there were a lot of inquiries for my speaking. So that's something that's growing very quickly. And I think one thing that I have still been kind of trying to mull over is the whole, is TikTok getting banned? Is something going to happen?
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Is there going to be a sale? But regardless, I think I've set myself up in a good position because If TikTok sticks around, great. It's one more platform where I'm able to create content and share it. But if not, I have really diversified my audience to other platforms. And ultimately, those hours of watch time, that attention doesn't just dissipate. It's going to go somewhere else.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
And realistically, I'm guessing it'll probably go to places like Instagram and YouTube Shorts.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
I'm not as concerned, I think, as some other creators who've really, really leaned into TikTok being their main, you know, cash cow. I have tried very hard to make sure that I have a strong following across TikTok, across Instagram, across Facebook, across YouTube, across Snapchat. Like when everyone was making fun of me for posting on Facebook saying that
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Nobody was watching my content on Facebook. Like now I feel so smart that I was able to do that and diversify my audience because I'm going to still be able to reach them, not to mention me having built my own roster of BFFs, my own newsletter, my own mailing list so I can speak to them directly.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah. Oh, man, this is a good one. I would say find your ikigai. But in part, I really encourage people to prioritize the can I make money of this. So ikigai is a Japanese term essentially saying that you are able to find your purpose once your thing fits four categories, one of which is do I like doing this? Am I good at it? Does the world need it? And can I make money?
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
So once you found something that fits into all four of these circles, it's like the center of the Venn diagram. And we give this advice, especially to students going into higher education of follow your passion, you know, whatever you want to do, like whatever your hobbies are. No, I'm so sorry.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Exactly. Like we need plumbers. We need electricians. We need people who have real skills. And I laugh because I come from a Chinese immigrant family, so that was never on the table for me. Like, I was never going to be allowed to major in certain majors because there was no opportunity to make money and my parents weren't going to be able to help me after school or anything like that.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
If you come from generational wealth. You have the luxury of following your passion. But if you are a regular shmegular person with a regular shmegular family and not to mention lower income, pick a job that is going to create the lifestyle that you want. Prioritize your lifestyle because you are not defined by your job.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
But if you do not have the life that you want, you're going to be sorely unhappy.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yes, absolutely. It's so funny. I feel like you teed me up for this one. But You don't want to, again, be overexposed in any one specific arena. And I think, to your point, like, even with general U.S. index funds, like, what is it? Like, 85% of the returns came from six companies. Like, you are, to a degree, like, very, very exposed. I love... looking at, I believe the ticker is VXUS.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
So that's like a Vanguard fund. Every single different brokerage- Everything but the US. Correct. So as long as you are, it makes sense, right? Like VXUS. Every single brokerage has their own version of this. So make sure you're getting the one that's at the brokerage you are investing with so you aren't paying additional fees.
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
But you can not only just invest in index funds domestically speaking, but Having something like that that is going to give you broader band exposure across the globe is very, very smart. I think the tricky piece is, What? Because people don't want to sit there and be like, OK, well, which of these countries has like a strong economic situation right now?
Pivot
TikTok Ban Looms, Trump's AI and Crypto Czar, and Guest Vivian Tu
Yeah, exactly. Like they don't want to sit there and be like, OK, like, should I invest in like a BRICS country? Like they want to just have it done for them. And if you want that, I think there are, again, index funds out there that are going to be able to help you do that in a very easy way where you can buy one thing. and get exposure to the rest of the globe. Great.
Prof G Markets
Is Breaking Up Intel The Right Move? + The New Gold Rush
So we want to introduce you to another show from our network and your next favorite money podcast, for ours, of course, Net Worth and Chill. Host Vivian Tu is a former Wall Street trader turned finance expert and entrepreneur. She shares common financial struggles and gives actionable tips and advice on how to make the most of your money.
Prof G Markets
Is Breaking Up Intel The Right Move? + The New Gold Rush
Past guests include Nicole Yoder, a leading fertility doctor who breaks down the complex world of reproductive medicine and the financial costs of those treatments, and divorce attorney Jackie Combs, who talks about love and divorce and why everyone should have a prenup.
Prof G Markets
Is Breaking Up Intel The Right Move? + The New Gold Rush
episodes of Net Worth and Chill are released every Wednesday listen wherever you get your podcasts or watch full episodes on YouTube by the way I absolutely love Vivintu I think she does a great job
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Oh my gosh, I was just going to say dollar bill.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah. Anybody who says money does not impact your relationship is a liar. Okay. It is truly every year they do some, somebody does a study. It's money and sex, money and sex, one and two, one and two. They go back and forth between who's number one, who's number two. But like, those are the top two reasons always.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And imagine if true physical intimacy is up there and money's right next to it, why don't we put just as much time into maintaining the money piece as we do the physical intimacy piece?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
That is par for the course. That's not anything special. Cutting out $5,000, do you have any coffees you have to cut out? You know how many meals you can't go out to? Do you know how many friends you might lose in that process? So again, I think it's really, really important to be asking for that raise. And I mean 10%, 15% every single year. Are you going to get it every year? Probably not. But...
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And I think maybe this is just a phenomenon that I have witnessed And I will say this from a heteronormative relationship standpoint, but we have a lot of guy friends who make a lot of money and you are one of two dudes, okay? You either want a partner, truly. And I know some of these guys, their wives, girlfriends, whatever, are the coolest, most inspirational.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
They just have the coolest job or they always have something really exciting to talk about, like a passion project they're working on. They're just so cool and they're so,
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Like really nice. They do something, like they just have a lot to bring. They're always the person who's like, oh yeah, like I brought a snack for you. I'm like, why do you have a snack for me? But it's like, they're just cool, thoughtful partners. Then there are other people who want a more, I would say with wives, it's more of like a traditional marriage.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Someone who stays at home, who takes care of the home, and there's nothing wrong with that. When you choose these routes, I think it has a lot to do with having been conditioned into thinking that you need to be the provider and
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
I will say I think there are a lot of men out there that would not be able to handle having a significant other or a woman significant other who makes more money than them.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Because I think it would be emasculating for some men who are not confident in their own masculinity. Yeah. And their ability to provide in other ways that are not monetary.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yes, I do. I really do. But you have to talk about that for sure. Like I make more than my significant other. And I asked him, I was like, does it make you uncomfortable that, you know, I make more than you? Because for the first five years of our relationship, he made way more money than I did.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah. He's always made more money than I did until I started Your Rich BFF. And he answered in a really, really thoughtful way. And he was like, No. Why wouldn't I want you to make more money so that we can do the things we want to do faster and I can retire earlier? And I'm like, okay, sick, easy. And he's like, but on top of that, you can't make your partner feel bad.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
That's the part that's really messed up. I think regardless of if the guy makes more or the girl makes more, where you'll see issues is where the partner who makes more leans on that money to... replace actual emotional investment in the relationship. So like, Venmoing your partner $200 because you can't make that date. That's trying to buy affection instead of being like, I am so sorry.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And then the next day, sending roses. You're still spending money. You're still getting a gift. You're saying sorry, but it's not so transactional and gross. And then on the women's side, it's like, making your partner feel bad that like, well, I earned this money. It's like, you know, why are you going out golfing?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Like, I don't think money should be like held over anybody's head regardless of who you are in a relationship or if just, you know, between friends because that's going to negatively impact relationships no matter what. Right.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
You get 7%, great. You get 8%, great. You gotta ask and you gotta remind them pretty much for six months out of the year that you deserve that raise and that you want money, that you are money motivated. Because if you ask in December when everybody else is asking for money, You're at the back of the list, back of the line.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
A fear of inadequacy, obviously. I mean, I don't mean to say like, obviously, you didn't think about that. But like, I think when you see someone that you think is too good for you, whether it be through looks, through money, through anything, you would say, I'd rather quit before I try.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Wow.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
For that fear of rejection. Like, it's such a fact because We have a friend who is just 10 out of 10, smoke show. She's never the one that people want to talk to at the bar. Really? Oh my God, never. Nobody ever talks to her. She's like in the corner because everybody thinks that she will be mean to them. In fact, this- Reject them or be mean. Yeah, this girl's like-
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
A plus personality just like so beautiful like I can only say good things but no one ever approaches her because they think that she will instantaneously think she's too good for them. Whereas like if we're keeping it real there are certainly girls who are not as conventionally attractive as this one friend but Guys feel very compelled.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
They're like, well, this girl and I are probably in the same league and she seems fun. I'll give this one a go. And that is just so much more approachable because they think that it's essentially like saying no to yourself or like applying for a job that you think you're unqualified for. Like, people are quitting before they try.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
I think it's harder to approach someone who's visually attractive because it's hard to... instantaneously judge being like, that woman makes more money than me, right? I think there's also a lot of mental gymnastics that can go into it. I know what people say about me on the internet. I see the comments. People are like, so, daddy's money. Like, it's not. Like, I made it. Right.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Like, it's my money. I invested it. Or... Oh, she's a trust fund baby. Or, you know, did she win the lotto? Or like what? Like no one ever just wants to believe that you earned your money or that you deserve it. They always want to make some excuse for themselves so that they can sleep at night.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Because if they look at someone like me who has made it themselves with certain privileges that I will not deny, but who was able to do it. Yeah. And they in their 29 year old life have not been able to do it. Yeah. They feel shortcomings. And it's okay to want to work for more and strive for more, but don't ruin a good thing just because you're always trying to like hit the next milestone.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
You want to be on top of the pile when your boss starts thinking about who's getting a raise this year.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
They'll come, but you could, you know, completely lose this entire journey if you don't take a second to stop them roses and stop and smell the roses.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah. So you remember those two guys on Wall Street? You've got the executioners and then you've got the knife and fork guys.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
So on the execution side, make yourself a brag book. So it's a literal folder. A brag book. A brag book, raise receipts, promo pitch, whatever you want to call it. Just make one. It's a folder in your email. And every time something good happens to you, every time you get a pat on the back from another team member from your company, forward it to that folder.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
A client says, wow, you did such a great job, whatever, put it in that folder. Anything that good that happens, you put in that folder. Because that way, when you go and you have to write those really annoying self-assessments, you can go back and literally look through those emails and be like, oh, remember that time I did that one thing and that thing and that thing?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And now you have quantifiable results that you can point to. The second piece is the knife and fork piece. There's a study and it shows that the smartest person is not the one that gets paid the most. Right. They're like second most paid, second or third most paid. Yeah. Being smart and being the best employee gets you to a certain point.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
But the person that is paid the most is the person that is essentially Mr. or Mrs. Congeniality. You need to be liked. And not so much like you have to be agreeable and likable, but like people have to think of you.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
You gotta be top of mind and you have to be unfortunately popular around the office. So, that happens by not skipping the company happy hour. That happens by joining your stupid rec pickleball league with your boss. You know what I mean?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Sure, sure.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
You have to do those things if you really want that. I know people listening to this might think like, well, I have kids. I can't do the pickleball league. I can't go to the happy hour. Okay. Ask your boss to go to lunch once every three weeks. Make that time. Force that time.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
do the water cooler thing because it might cause you 15 min- it might cost you 15 minutes of your day and it might cost you that 15 minutes of productivity. I guarantee you, nobody is going to miss that 15 minutes of your work product but they'll remember when you told that funny joke. They'll remember that story you told about, you know,
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
the one, you know, funny thing that happened that weekend because that is how people remember you.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
It's not about like, oh, do you remember who closed that amazing deal last quarter? Nobody says that.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Mm-hmm.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
No, I was going to say, it's also like doing an elevator test or a airport test when you're looking at a resume. How many times has someone asked you about your past job experience in detail? Frankly, not that many times. You know what everybody beelines to on my resume? What's that? They look at the very bottom and they're like interests, activities. And they're like, oh, that's weird.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
I see where it... Literally, that's weird. you were a cheerleader in college? And I'm like, yes. And they're like, really? And I'm like, yeah, why? Don't I seem so fun and bubbly? And like, you know, it's the same day that I'm wearing all black and I look so depressed. Or they'll look at the bottom of my resume and they're like, interest, mob movies. What's your favorite one?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And I'm like, Goodfellas, obviously. And then we get into a 20 minute debate and I waste 20 minutes in our interview. But you only now have 10 minutes to ask me technical questions. And if I ace those 10 minutes of questions instead of 30 minutes, I now look like a genius because every question you asked me, I got right.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And then even better, like the fact that you and I now have something in common because you know that Goodfellas is my favorite movie. I know that The Godfather is your favorite movie. So now we're friends.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Can't exactly remember.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
But it'll literally be like the first Google search. Literally just be like, you know, smartest person doesn't get paid the most. Right. It's been shown time and time again.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
You got to be a B plus student with an A plus personality. And that'll get you farther than being an A plus student with a B plus personality.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah. I mean, you can't have an A plus personality and just be like a D minus. Like you're still bad at the job. They don't want you around.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
I would say something that people struggle with realizing is that these changes you'll have to make, they're not permanent. They're only temporary. Yes. And you are going to be uncomfortable. It's not going to be fun. And I am very anti. Cut out the avocado toast. Don't buy the coffee. Rah, rah. OK, I am. Yeah, but. If you are in a truly a dark, dark hole and there's no ladder to crawl out.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Yeah, this is my You're Rich BFF strip method.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
If you want to be good with money, you got to strip. So S stands for savings. It's so important to get that emergency fund first. You break your leg, some bad happens to you, you're going to need it. And if you don't have it, you're going to get worse into debt.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Emergency fund.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
If you are a singleton who rents, three to six months is totally fine. If you got a family, you got a mortgage, the stakes are a little higher, you probably want to be closer to nine to 12. Okay. Cool. T stands for total debt. And I say total debt because people think about debt as this evil thing. Not all debt is created equal.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And debt with higher interest rates, things like credit card debt, when you're looking at a 22% to 25% interest rate is a lot dicier than something like federal student loan debt. You might have like a 3% interest rate on that. Like those two do not compound at the same rate. It's just math.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
So what you do is you rank your debt from highest to lowest interest rate and you pay it down in that order. You pay off the minimum balance of every single account.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
So you pay off the minimum balance on everything.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
But any money you have left over to pay down debt, you put towards the highest interest rate.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Some people prefer the snowball, which is you ranking from smallest to largest balance. It's great positive reinforcement because you're able to clear accounts faster, but you pay more interest.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And Aries, I'm like really impatient.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And we're talking about someone who does not have the money to afford that interest.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
So, we got to go fastest.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
R stands for retirement. I know, especially my audience, so many people are young and they're like- They're not thinking about retirement. They're like, it's like four years away. It's 30 years away.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
It will be here before you know it. And again, now I do know where this study come from. Credit Karma did a survey and over a quarter of people over the age of 59- have not a dollar saved for retirement.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
I think on one hand, in part, it's education. It's that thought of like, I'll be young forever. Two, I will say many, many of those people are likely in lower paying jobs. They are, you know, not offered employer sponsored retirement plans. They don't know to create their own individual one. And I think things happen throughout the years.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
So, like, maybe you were really responsible about putting away money for retirement. If you get sick, you can't not get treated. It's hard.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Sure.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Life happens. Yeah. But it is important to think about retirement now and this is my favorite part because I love tax bennies.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Bennies being benefits.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Saving for retirement, investing for retirement, you can get tax benefits.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
That's true.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
In a 401k, a Roth 401k, in an IRA, a Roth IRA. At one point, whether the money is going in or coming out, at one point, you don't have to pay taxes. Right. And you can do that legally. The government wants you to do that. That's how it's written in the tax code to incentivize you to do it. So take advantage. Don't pay those taxes.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
make sure you are saving for retirement and not paying your taxes because it's legal. And I think I, moving on from retirement, is the part that everybody misses. Everybody puts their cash into those retirement accounts, into their brokerage accounts, and they're like, doing a great job. I'm done. That's it. But no, no, no. Investing is not putting cash into those accounts.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
It's actually buying stuff with that money. And people forget to do this all the time.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
No, with that money. So like, say you have a Roth IRA and you put $5,000 into that Roth IRA. I know people who have put that money into their Roth IRA for years. And they never allocated those dollars anywhere. That just sat in a cash fund. And it didn't grow. And people will make comments when I make content about Roth IRAs or 401Ks.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Cut it out. Like you literally have to cut it out. You have to make some temporary changes that are very uncomfortable. And to your point, like we focus so much on cutting out every single little discretionary cost. Do you know how hard it is to cut out $5,000 worth of expenses? Do you know how easy it is to ask for a $5,000 raise? A $5,000 raise happens every single day.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
And they're like, well, I don't know what you're doing, but my money hasn't grown. I'm like, did you invest it? And they were like, yeah, I put it in the Roth IRA. And I'm like, no, no, no, no, no. Did you go and buy index funds? Did you go and buy a mutual fund? Did you put your money into a target day retirement fund?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
The metaphor I talk about in my book is going to the grocery store. So, you go to the grocery store, which is the brokerage, and you have your cash in your purse and you walk in. Imagine just taking a lap around the grocery store and then going home and being like, why is there no food in my fridge? That's what people do.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
You actually have to go and buy your fruits and your veggies and a couple snacks for yourself. You have to buy those things if you want them in your house.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
No, it's one of the biggest mistakes I see over and over again. So, invest your money with the I and P stands for my favorite part, you got to plan. You do not get to have your happily ever after, you don't get to ride off into the sunset if you don't have a plan. You got to plan for your party.
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
I think it's so important to sit down, whether it's by yourself or with your significant other, and talk about what does our happily ever look like? Are you and I retired in Naples, Florida? Or are we retired in Naples, Italy? Because the numbers for those two don't look the same. Do we help our kids pay for their private education at a college? Or are we saying take out loans?
The School of Greatness
How To Take Control Of Your Financial Health To Create Lasting Abundance
Do we want to have a pet? How many cars do we want to have? How many vacations a year are we taking? When we get married, are your parents moving into our house? Do we have to build a separate little in-law suite for them? That all costs money. And if you don't know what that looks like for you, how are you going to back your way into that number? Interesting.