Does Getting Married Help You Earn More Money? Earn Your Leisure's Troy and Rashad on the Marital Minimum Wage, Tariffs, Financial Trauma and "F U Numbers"

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Money Rehab with Nicole Lapin 55 min 3 speakers 8 chapters transcribed
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What is the crossover episode about?

Nicole Lappin 0:02
I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. Well, well, well, this is the crossover episode we have all been waiting for. Today, I'm joined by the trailblazers behind Earn Your Leisure, Troy Millings and Rashad Bilal. If you don't already know, Earn Your Leisure isn't just a financial literacy podcast. It is a full on empire. Troy and Rashad have been hosting their show for years and bringing on guests to share advice on building wealth. And so when their team reached out to us and asked if they could be guests on Money Rehab, it was a fast hell yes. And the conversation was just awesome, nerdy, and actionable as I knew it would be. We dig into a lot, so get ready.
Nicole Lappin 0:48
We talk about their predictions on the U.S.-China trade war and what it means for your portfolio. We also talk about the insider trading mess in Washington and whether finance can really be democratized. Also, we go pretty deep talking about financial trauma, money dysmorphia, and the push-pull of relationships and money and what it actually means to feel like you have enough. Oh, and if you have a crush on Rashad, you will get the answer on whether or not he is single. Kind of. Welcome to Money Rehab.
Rashad Bilal 1:20
Thank you for having us, Nicole. It's a pleasure to be here.
Nicole Lappin 1:22
So I've been such a fan for such a long time. Got to throw some financial flowers your way. Since the beginning, have been such a big fan of what you do. We're all in the financial literacy party. I think what really struck me is you're so calm. I love your voice in a crisis. It even makes me calm.

How do the U.S.-China tariffs affect your portfolio?

Rashad Bilal 1:43
Everyone relax.
Troy Millings 1:44
Appreciate it. Thank you.
Nicole Lappin 1:46
Have you always been chill?
Troy Millings 1:48
Nah, you got to keep the composure. I think that we've always had a calm Demeter. He's a little bit more outgoing than I am. I'm very chill, laid back, reserved person. But I feel like in a day and age where everybody's trying to be somebody that they're not, and I feel like a lot of times when you get online or get on social media, it's almost like wrestling. You have to adapt to a personality. So you have to change your name and you got to change the way that you dress and change the way that you talk. So I think it's refreshing for people to just really feel like it's an organic vibe. And that's what we did. We haven't changed our personas. or changed our name or changed too much about ourselves. We're just the same people that we were before.
Troy Millings 2:30
So even if people don't know us or haven't knew us for 20, 30 years, they can feel like it's an authentic person that they actually grew up with, as opposed to a celebrity or a talking head that they're listening to.
Nicole Lappin 2:44
Maybe with some fancier stuff.
Troy Millings 2:46
A couple of trinkets.
Nicole Lappin 2:47
With the tariffs going on, not necessarily on my bingo card, although it probably should have been because with Trump, he tells us what he's going to do. It just wasn't on the bingo card with how aggressive it was. So everybody's freaking out. Your audience is freaking out. How do you tell people to stay calm?
Rashad Bilal 3:07
The beautiful thing about our audience is that they grew with us through the pandemic. And so they've seen crisis before and they've seen a bull market and they've seen a bear market and they've seen catalyst events that have the market appreciate and they've seen catalyst events have the market depreciate. And so when this happened, it was kind of that preparation of there's some uncertainty, which has always been the number one thing in the market that we can't control. And you can reference 2020 March of what uncertainty looked like. And we can reference
Nicole Lappin 3:36
Circuit breakers. It was crazy.
Rashad Bilal 3:37
Exactly, right? Like, this is the end. Like, how far can this thing fall? And so when you see something like the tariff announcement happening early April, it was like, oh, okay. We've seen something like this before. There's a lot of uncertainty, but this is an opportunity, right? Every time there's a crisis, we always tell people there's an opportunity for people to really take advantage of it.

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