142. How to Start Investing with $100 a Month (and Build Long-Term Wealth) w/ Debbie Sassen
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
37 min
2 speakers
3 chapters
transcribed 1 month ago
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What is the main topic discussed in this episode?
You are listening to the Becoming the Wealthy You podcast with Jermaine Foley.
If you're a woman who makes good money in your career or business, but you're not building wealth like you want to, then you're in the right place. In this podcast, you'll learn how to stop overspending, break free from the cycle of debt, save lots of cash, and become the wealthy woman you were born to be. Let's dive in. Well, hello, everyone. Welcome back to the podcast. Today, I have a very special guest with me. Her name is Debbie Sassen, and we are going to talk all about money and investing and all the good stuff today. So I'm so, so pumped for this conversation. Debbie, welcome to the show. Thank you so much, Jermaine.
I'm so happy to be here.
Yeah, I'm happy to have you. So let's just dive in. Can you just start by telling us a little bit about yourself, the work you do, and what inspired you to become a financial advisor?
Sure. So today, by the way, I work as a business coach and money coach. I'm no longer doing financial advice. I had a license, a series 65 registration, and I was a registered investment advisor, but I let that go when I pivoted into the coaching industry, because I don't want to manage portfolios anymore. But to turn the clock back many decades ago, Like I was the kid who was always interested in money. It just always intrigued me. I had a lemonade stand when I was little. I sold donuts and coffee from a box on the back of my bicycle. Like I did a lot of different money making activities, you know, when I when I was a kid. But I grew up in Los Angeles where Wall Street and investing was not part of how I grew up.
But after college, I went to work on Wall Street. I had had a boyfriend in college who told me, you should be an investment banker. I'm like, I don't know what that is. But I found out when all the recruitment companies came and that's how I ended up working on Wall Street. And fast forward like several decades, I moved, I grew up in Los Angeles, worked in New York, moved to London, also for Goldman where I'd worked. And then I now live in Israel where I've been for 37 years. I came here to learn more about Judaism, about my background and my heritage. because I wanted to dive deeper into that, especially after three years working on Wall Street, where I worked really, really long hours. And I felt the whole spiritual side of me was missing.
So I came to my homeland, and I never left. I met a guy. You know, isn't that how it always happens? You meet a guy. And my husband is originally from London, but we never met when I was living in London. And we met, we got married, and... As the story goes, the rest is history. We now have a very large family, eight kids, 20 grandchildren, and we have very, very deep roots here in Israel. But I got started really doing what I do now after my eighth child was born. I had been in the government because I pivoted into portfolio management for a central bank. And then because I was growing this beautiful large family, I was moved from the trading room, the dealing room, into the economics unit. And although I can do that portfolio analysis and I can get really geeky and analytical, I don't love it.
I'm a people person. I'm a sales person, money person at heart, not an analyst. So after my eighth child was born and I was already 44 at the time, I was like, that's it. I'm done. I need to like find myself, find my passion. Right. That's what we always talk about. So I transitioned into personal financial planning. And part of that had come with my aha moment when my husband and I had only six children. He was diagnosed with cancer and now he's fine. Thank God. It's been more than 20 years. He's healthy. He's good. Thank God. But that was the moment that we really looked at our money.
Who is Debbie Sassen and how did her Wall Street background shape her money journey?
And we tend to be savers, not spenders. We did the responsible things with our money as much as we could. could do and understood how to do. We're dealing in two languages now. And we're managing a very large family, juggling all the balls. So I had never really deeply looked into my retirement plans.
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Chapters
3 chaptersSpeakers
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186. Why Making More Money Can Still Leave You Feeling Behind
185. Your Past Money Habits Created Your Current Financial Life
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