It's time for the b a q a a.
The b a q a what you say the b a q a with Tippanda, the b a q a ain't no manday today. Okay, my book up here just so the people can see. Welcome to Brown Amission. Question Answers, where you have questions? I have some answers. Although I am not your attorney, your doctor, your lawyer, your mama, but I can't be your internet bestie or whatever.
Just a smart brown black girl that knows some things.
But we want you to lean into the people that you pay for that official professional advice. Okay, So first question, I'm gonna answer that. Actually I'm gonna answer a quick financial question and then a deeper, longer question that so many young people in entrepreneurship meaning young, not age young, but like in entrepreneurship young ask me. But first question anonymous, Anonymous said, I would like to remain anonymous.
Got you.
We're gonna call you Custodio. Okay, okay, Custodio. I've been catching up on the podcast from the beginning. Love that for you and for us. I'm up to episode one ninety nine. You said, Tiffany, you opened up a custodio wrath iray, which I don't think I said wroth but anyway, which is something I thought about opening for my kids. When I looked into it. It says that the child has to have earned income. Can you please tell me how you were able to open yours? Also, are there
any other accounts I can open for them? Besides that are regular savings? Thank you for your time. So I'm not sure if I said custodio wroth which the thing is, any child can have a rawth ira if they have earned income, meaning like they have to work. Because a wroth ira ira is an individual retirement account meaning in order to say for retirement, you have to be working.
You have to have money coming in.
So my sixteen year old bonus daughter, Alyssa, she's got an ira because she works for me. She does my tiktoks once she gets a chance, so she can have a retirement account. I mean, your two year old can have a retirement account they're working, you know, like maybe they're like a model for like gap or something like that. You know, Now, if I said I opened a custodio wroth iray, that I missspook that I opened a custodial
account period an investment account. So you can have a custodal a custodial investment account, an account where the money's invested, but it's not for retirement, it's just for investment purposes.
So for myself personally, I have.
Retirement accounts, I have a WROTH, but I also have just regular investment accounts. Now, there are no tax benefits like with a roth, iray or any kind of like retirement account that you get with the retirement account, but I still I mean, these are investment accounts because you can only set aside, but so much money. Does a cap on how much money you can set aside for retirement accounts because there are tax benefits and the government is like, we're not trying to have you have all
the tax benefits, so there's a cap. So for my niece Amelia aka mem, my nephew Roman aka row Row, my niece Lillian aka A Lily, and Alyssa, they all have custodial accounts that I'm the custodian of. But these are just regular investment accounts. But because they're all under the age of like eighteen twenty twenty one, that I am the custodian of and if something were to happen to me, then actually, like I now put it into
my trust. Well, it will just be held for them until they reach a certain age if something were to happen to me. So yes, So if you're interested in opening up an investment account for your kids, you could
just open up just a regular custodical investment account. You know, you can make the metaficiaries depending on how much is in there, or you can make the trust the beneficiary if you have a trust or you're looking into one, and then inside the trust it tells the trust what to do with that money, right, I mean you could also consider like a five to twenty nine plan, which are not really my favorite. So five twenty nines are these accounts that you could set aside for education for
your kids. So they do have a tax component where like you know, moneys are allowed to grow like kind of like tax free, and you're allowed to use that money for an educational event, so typically college. But more they have more leeway now where they allowed you allow you to even pay for it like sometime for like childcare or maybe your child goes to like a private school.
The only thing I don't like about five twenty nine is that you really have to use it for an educational event, and if you don't, you know, then the tax the tax benefit that you got can be rescinded. And so I don't really that's why I didn't open up five twenty nine because I don't know the kids, like Amelia is five, I want to say, Lily is three or four, and Women is seven. They're still so young.
I don't know what college is gonna look like when they get older.
So I didn't want to pigeonhole their money specifically for education, just in case. I wanted them to be able to use their money to purchase a home, you know, to start a business, or to go to school or whatever.
Okay, all right, Custodio. I hope that answers your question.
So yeah, wait, before we do our next question, which is going to be a really good.
One, let's take a breaking break. We'll be right back and I'm back in black. Question number two for you.
So second question actually came from so it's not just my producer your money, but I get this question a lot, a lot, a lot a lot. If you guys know that I am a mental so I have this Patreon, which is this like online place where people can like they pay like a little bit of money every month, they have access to like whatever you're sharing. And so for me, I mentor specifically black women in business because I get so many questions, are there some men and
things there? Yes, there's everybody black there, not necessarily, but that's my sweet spot because guess what, I am a black woman in business and I've been in business for over fifteen years, and man, any successful businesses.
I cracked the code if you will.
I've got the Budgetista multimillion dollar business. I got Literature Academy multimillion dollar business. I had a marketing business at one point that was like multi six figures a year Brown ambition.
You know. Successful.
When I say successful, the means we're in the black. You know, we make more than we spend. And I feel like I had another one either way that my businesses be doing good. But the Budgetissa was my original, and I learned so much that ends the upstebs and downs, and I worked really, really, really hard, sometimes too hard. But as a result of that, I've learned so many lessons that I continue to learn because I still have three of the for my businesses, and they all do well.
And over the last I want to say, really, since I've made well over thirty million dollars in business, not as take home, but like in business gross especially in the last I'm want to say that thirty most of that thirty million probably make within the last five or six years.
So the girl is doing good over here, and it's only getting gooder. As my niece would say.
So I see all that to say that I get questions a lot about entrepreneurship, and lately you guys have made Oh sidebar, if you want to be a pay if you want to be a mentee, you can go to my mentor Tiffany dot com.
It's ten bucks a month. I mean, girl, like, what are you doing? Ten bucks? You get all the.
Resources and matter of fact, tonight, I mean, by the time you listen to it, you'll catch the replay. I am doing this ten step plan of how I made my book Get Your Money, a New York Times bestseller, a Wall Street Journal bestseller, and how I got to sell over two hundred and twenty thousand copies if within two years, which is unheard of. Most books sell about two thousand in a lifetime. I told two hundred thousand plus in two years. So I'm doing this ten step
plan which I wrote. Took me three hours worth of notes. But that's the kind of stuff we do. A Patreon at my mentor Tiffany dot com. It's not too late. You can always catch our replays. It'll be pinned to the top.
Anyway. A question I get.
All the time from my mentees and the producer imani Are a producer. Young sister asked me this question. I get it a lot, is Tiffany. I've heard you say you're in your soft Girls shah Day era of business where you have pulled back.
You are no longer in your Beyonce.
Era of like Go Go Go, I'm an icon, I'm a legend, whatever it takes.
That's cute for you, millionaire Tiffany. You know sidebar.
I closed on my house and I don't know if I tell y'all, I bought it and I bought a cash I know so though that I've been talking to you all about bought it. So cute for you that you could take a step back. But what about us on the come up? What about us who are working tour trying to get to where you are. I cannot rest, I cannot sit back, I cannot shy day. I got
the Beyonce gota gotta got it? And I say, do you because I know you look at me and you're like, but you got here as a result of on your Beyonce era, and I say, that's actually not true.
Come closer.
I got here despite being in my Beyonce era, because the Beyonce era almost took my life. Like if you listen to our podcast prior to this one. I'm not sure when this is going to come out, but we have a podcast with Kadeen and daval Ellis. They have a new book called We Over Me, New York Time bestseller, and Deval talks about how last year he passed out on set and he lost fifteen pounds in three days. His blood pressure was so low he thought he was
having a heart attack. And they do very very very very very well in business, and yet all of the work that he was putting in for his family and for all this money almost took him out.
And I have been there.
I did well despite my Beyonce eerr because I created this goal for myself and just goals in general, and I would hit the goals and then fly past them. I want to make a hundred thousand dollars a year in business, freu past it. Barely even looked at it when I hit it. I wanna get make a million dollars a year, fru past. I want to be making million dollars in a month, free past it, And like,
how much more did I need? That? Like? I was overworking and overwhelming myself into the most unhealthy I'd ever been. I had gained like thirty pounds. My blood pressure was through the roof. I never had high blood pressure. I was not sleeping just a few hours a night. I thought five hours was a lot of sleep. Overwork and overwhelmed to what end?
To what end?
And it took for I knew something was wrong, like a couple of years ago, and I goten a business coach, and I got in a therapist to try to undo some of the things I've done, you know, because I had painted myself into an entrepreneur corner where I had such a huge staff of thirty people that I had to work as hard as I was working in order to maintain everyone's salaries. I had to That's what I
told myself in that space you start to create. I have to keep going at this pace in order to maintain I and you're right, in order to maintain the toxic thing you created, you do have to go that hard. But the alternative is I can undo the toxic environment I've created for myself. I can say I'm gonna have to let some of these people go. I can say I actually don't need as much money.
I don't. I can say, you know.
What, like like I don't need to be on every show, on every you know, morning.
Show, on every whatever. I can say that.
I can say the goalpart post is here, girl, not past here, and I could stop right here. I can understand and absorb what it looks like to have enough, because if not, your body will sit you down.
If you don't sit down.
And then for what for what if you have a stroke. I had a friend Marie Antoinette. We went to Kenya together. Well, I met her in Kenya. Now I consider her like you know my Booski, right, she is beautiful, healthy, like just if you were to look at her like she's forty five, look at twenty five, just beautiful, fine, amazing woman. She had multiple strokes a few months ago and I could share that because she posted it on social multiple strokes. What the hell is going on with us? That we
are working ourselves to literal death? What will it take? Will it take for you to have a heart attack? That's what you're looking for? What will it take it took for my husband to die to say your Nextif the hell? All the things I told myself were too impossible to shift because I have to.
I have to.
I gotta pay this, I gotta get this my mom and my dad. It took for my husband to die for me to say, who told me that? Like, I don't have to? And so I shifted everything. And now you see me like I created space that was there already. That's not even true. I didn't create it. I acknowledge the space that was there. I no longer working March August or December. Now, first, I was nervous to say that, even for the podcast. I was like, Oh, what we gonna do? So the key is determine the space that
you're wanting in your life. I don't want to work Fridays, I don't want to work pass five, I don't and adjust your life accordingly. I told everybody March August December.
I'm out.
I'm out, and guess what we tape extra podcast episodes. Mandy will do some taping on her own.
Right.
The team already knows what they have to work on. I'm going to Egypt next week, okay, and guess what. You won't see me post about it on social you know, maybe six month now. I am determined to live well now and you can if you are on the come up.
Does it look like hard work for success? Absolutely? I still work hard. I just don't overwork. I integrate the rest into the work.
It's a weave, you know, Like think about like a like a blanket that someone's weaving together, your grandmother's crocheting a new color in.
You have to add that color of rest into the work. I'll give you example.
One of my mentees, aka my sister Tracy, she started her business. She's a publicist. She's my publicism. So the beginning I was her first client. First year, she was a walking zombie because she lived with me and seven days a week, all day, all night.
She was going to.
Pass out and I was like, girl, what are you doing? I just you know, it's just so much work, I said, it's too much.
You have to.
You have to draw a line in the sand and say I'm going to stop working at this time. But it's so there's always going to be a lot of work to do. You have to adjust your schedule accordingly. You have to say, if the work is not done by this time, I will just push it to the next day. Or do I even really need to do these things? Because not everything yields results. I was doing stuff that took me ten hours to buy one hour.
It's like, what are you doing?
Not everything yield results, So you need to discern what actually is going to yield the results and put your energy toward that. I promise she's probably about eighty percent of the stuff that you're doing is not really really doing much. It's the twenty percent that's making the biggest results. And that eighty is yielding twenty percent. It's not that serious, right. And so then because living with me, she saw I had Wednesday's light. I don't take no calls on Wednesdays.
I have Fridays off. She started to take Fridays off, which is crazy to think about for a brand near new year two business taking Fridays off.
She takes Fridays off.
She gets her hair done, she gets her nails done, she gets in massage, a facial. I see her come back in the house like, hey girl, and I was like, and yet business ain't slow down. She's got more clients than ever. And I asked her, how did you do it? She said, you were right. If I take Fridays off, in my mind, I'm like, I gotta get this thing done between Monday and Thursday, and I do. You will adjust. Those of you who are parents, You have one kid?
How will I manage just one kid? Then you have to you adjust, you know, force rest into the space that you're in. Even Beyonce and all her Beyonce, if you watch her Homecoming special that was on Netflix, did you hear what she said?
I caught it.
She said, doing that Homecoming special and doing like that that concert and all of the you know videos, and it nearly broke her. She said, it almost killed me. That never worked so hard. It was, that was the hardest thing she ever did. And she said, I'm never doing that again. Beyonce said that I'm never doing that again because she understood.
It's too much. I don't deserve to.
I don't I don't have to give people my life in order for what so I could be an icon the hill. She said, I'm never doing that again. And guess what we're our visuals for renaissance. They hear because Beyonce and all her Beyonce okay. And so I want you to understand that rest is not something that you deserve, like, oh I got to earn it. No, it is your birthright, meaning like you don't got to do something to deserve rest. By nature of you being a human being, you get to rest. It's part of life.
Damn.
We live in the East Coast, right, I live in the East Coast. The trees have been resting the last few months because even nature says, lay down, Lee's fall.
Because you're stressing out the trees.
They need a moment to relax and recover. Trees recoop, relax and recover. The birds don't do all that all year long. Bears be chilling, squirrels be chilling.
Why not?
Why are you not taking a moment to recoop, relax and recover. Like you might say that, I know people who are like you know, like I just want my biggest goals. I want to buy this one house. They buy the house and then oh, I want to be a second one.
Girl.
Have you even luxuriated in the fact that you got this first thing because you keep pushing the goalpost and stressing yourself the hell? Oh? I want you to integrate some rules into your life until you become to embody the thing. One of the things I learned in therapy is that in the beginning, when you're learning to shift your behavior, you incorporate these rules, rules and regulations. If I do this, did I do this? If I do this, then I do this.
And after a while.
The point is that after a while, the rules become a part of you and you don't need them anymore because you begin to embody the person that does that. Like, you know, like if I was a smoker, I choose my Nicorett gum, you know, because it helps me not smoke, and then one day you're just a non smoker. I don't smoke, so I got to worry about that Nicorette gum.
That's so that's where we're all moving toward embodiment. So when you're listening, Okay, now, in the beginning, I want you to put these things in.
I'm going to take my Wednesday's light. I'm just making up stuff for you.
I'm going to take my Fridays off after every major accomplishment, I will not start a new project for one month, two months, three months after. I want you to put these rules in place for yourself, because it's a new way of being. You put these rules in place for yourself, and over time, if you adhere to these rules for yourself, you learn to start to embody and become a person who's just like that. I no longer have these rules about,
oh I don't work on Wednesday. I have a call on Wednesday, like tomorrow, you know, And oh I don't work on Fridays. Sometimes I do stuff on Friday because I embody a person that does not overwork and overwhelm. So although I might still I might do something on Wednesdays and Fridays. Now, when I had this rule in place before, I don't do stuff past three typically I'm going on for a whole month in a week, you
know what I mean. I embody someone who lives within the harmony of not too much not too little, and I still make hell of money, you know, And so I'm wanting that for you that, like you know, for those of you who are coming up and you're building your business and you're working toward greatness or whatever it is. Integrate the rest, Integrate the time to yourself, Integrate the moments of absorbing you know, the goal that you've reached. Integrate that to your thing. Now, get your tracing on.
You don't got to wait, you know, fifteen years like me to finally get a break.
The hell no, we off that.
Integrate that into the process now, and so it doesn't become a thing that you have to kind of like dig your way out of. It's like, no, no, I've always been on the zen, you know, like m you know, I got to the goal and the dream while also feeling well rested and cared for and centered and happy and whole.
You can do both at the same time. It's out there for you. Now. Might the journey be a little slower.
It might Might the journey not be slower, because sometimes we tell ourselves if we do that, we won't get there as fast.
You'd be surprised.
I overworked so much that I actually wasn't as I
wasn't as focused because I was so tired. I wasn't as thorough because I was so overworking, overwhelmed, I succeeded despite the fact that I was running myself ragging, not because I was running myself raggon that it's in rest now that I'm smarter, that I'm sharper, that I do less work because I don't have to work as much because I'm just like, oh, actually, I can see more clearly the problem and the solution versus doing all the things, And so you might find that you actually do better.
You know, you likely will find you'll do better well rested, you'll do better doing less. My motto is deep versus wide. What am I currently doing and how do I do better? Versus like adding all these new random things to the plate. And so yeah, that's for Emani, That's for all my mentees are always asking me. That's for my sister, that's for young Tiffany. I wish I could have told her that, you know, but I grew up in an era where
hustle was heralded that more was more. And I'm here to say it's a lie, because I promise you when I tell you I know some of your favorite brown blue check people, brown mean and black people and brown people who have their blue checks, the ones that you admire, the ones you look at you what I tell you, I know some of your fa favee face, and they stay in my inbox and on my phone and hitting me up to tell me how how overworked, overwhelmed and miserable they are despite their accomplishments.
I said, miserable.
Now, you, with your happy spouse or partner and your two cute kids and the dog, you wish that you could make what they make and do what they do. Meanwhile, they wish they could be home like you, like you, like, don't give all that up for a fake fake life
on social media. Social media will have you feeling bad about a good life, a good regular life that allots you time and energy and freedom really more than them, and so like, yeah, like there's not too many brown blue check people that are like quite honestly like settled in a good space, and so I aspire not to be that, you know, like they.
I can't tell you how many.
Have made the pilgrimage to Newerk so we could have lunch and I could pour into them the way I'm pouring into you now that like you actually don't have to do all of that. You get to turn away and say no, rest is resistance I am going to take my rest because it is my birthright to do so I can integrate it into my goals and dreams.
I don't have to overdo it. Who said that? Who said that? It's a lie?
Hopefully Baqa was helpful for you today and for real, I really mean that. I want us all to, like, you know, navigate from a space of like joy and wholeness and happiness and connectedness as well as the success, because I am currently living both. I got hell of money, but I also got hell of friends and love and time and energy and travel and excitement. I have all the things, you know. The only thing I'm missing is my is my direll, you know. And even then he's
still here in some ways. And so I want that for you. I cannot want for myself and not want for you. If you want to send lessons questions into Baqwa, you could do so Barnavision podcast dot com. You can send your questions there Career, life, business, entrepreneurship send them there. You can also hit us up on Barnavision Podcasts on ig or theba Podcast on Twitter. You can send us messages. If this was helpful for you today. Hopefully I support.
A word to you today. If you want to be a mentee, we'll put this link in the show notes to my mentor Tiffany dot com. It's currently only ten bucks a month, although it might go up this year. I don't know, not for the current mentees. I always keep prices the same for like people who are current, but it might go up.
We'll see.
But yeah, my mentor Tiffany dot com. And yeah, we'll see you next week. Oh actually not me though, because I'm be in Egypt, but you'll see somebody next week. Okay, bye, y'all.
Hey, ba fan, we could not do this show without your support or the support of our team behind the scenes. The Brown Emission podcast is produced by Cumulus Podcast Network. It's edited by the wonderful Emani Crosby and produced by Tanya Bustos. Dennis Stimplinsky is our in house tech guru, and I am Bandy Woodard Santos, your co host, and I will see y'all next week.