Hey, hey, hey, we're back. We're black, especially with June teeth coming up, we're brown, Ambuson, he.
Pardoned me just the Rona. No, I'm the last I'm the last woman standing in my household who has not succumbed to COVID. It came for us, Tiffany. It came like a dark cloud. Last week started with my cousin, and I'm torn between making her feel guilty or not. I know that there's no blame in it. Anyone can get it now. It's highly contagious, but it feels good to point a fingers sometimes. But yeah, So started with my cousin and then my baby Rio tested positive yesterday, so he's out of daycare.
For ten days.
And better believe they're not going to pro rate the fee. Nope, I'm still gonna pay all my two one and seventy five dollars.
So he's out of daycare.
And it was funny, is like when we were trying to figure out last night, I'm like, what'sapping, Tiffany, like telling you what's going on? And I'm thinking, you know, my husband's busier than ever at work, and I do understand that intellectually, but also I do not care. I'm like, you must stay home and help me, but he's like, no, I have to go in. But I never imagined I would root for him to get COVID, But I said, I might have whispered a tiny prayer because like, if
he's positive, then he can't go. And sure enough, he woke up this morning. I'm such a jerk. Yeah, he woke up this morning positive and achy and waw. So both my boys are in bed with peanut butter and jelly sandwiches right now. I tuck them in with two iPads and they're sandwiches. I said, Mommy's going to work.
Meanwhile, man's over here looking fabulous if he's just listening. I mean Mandy's hair. First of all, these curls are popping. I don't know what you've done new, if it's a new product or whatever.
These girls keep the spray bottle. We rehydrate. I keep rehydrating like a pop.
And then on top of that, tell me I was gonna say, Mandy got a red lip on and it is playing beautifully against her yellow shirt. I'm like, ron aware, Mandy's looking like looking like you can't look this good, and they your boys are.
Like everything is better with a red lip, the same way I got Rio a brand new truck today and it just brought He was like, Rona, who you know what I mean, you gotta we have to fake it to make it at a certain point. Yeah. So hopefully by the time you guys hear this, we'll start they'll start start feeling better, and I will not feel any different than I do at this moment in time. Fingers fingers crossed.
What's new? What you actually right before this? You know, I was telling you. I was like, oh, I gotta be with my attorney because my CFP on Jilly, which is a Certified Finance Planner, which is like the gold star standard for financial advisors. She was like, Tiffany, you need to get your trust in order. And I was like, for why Because I got a really good, thorough will.
And I was going back and forth. So I met with Tony, who's my attorney, and I was like, oh, because even me with all my learnings, didn't fully get the difference between a will and a trust. I kind of got it, but not really. But now I feel like I'm like a good eighty percent, like okay, not like I can't be an attorney, but I'm like, oh, I got it. Would you like to know what I learned about that?
I would love too, because I was told to create a trust too, and I forget why, but I.
Was planning to do it so typically, so the main difference is a will is supposed to say this is what happens to my stuff immediately after I pass away, typically like up to a year. That's like how much control you have, Like I pass away, this is what I want to happen to my stuff up to a year. Right. A trust really is supposed to be like what happens in perpetuity, So if you have additional instructions, so let's just say for real, you're like, you know what something
happens to you? God forbid? And you're like, but right now, I yes, when I pass away, if something happened to me, then RIO would get my assets along with husby. But I really kind of want because I don't want because with children, they typically don't get access to whatever funds until they turn eighteen. But let's be real, eighteen year olds ain't ready for no money.
Right give him You might say, are fifteen, but don't give him money.
Exactly, but you might say, because I don't want my money or my assets to be given to my child even when he's eighteen, at least not right away. I want to have more control beyond that. A trust is where you say he can get the like, you know, I'm just enough for college at eighteen, he can get maybe I'm half at twenty five and the other half at thirty. So a trust allows you to say, beyond the initial i'm not here in distantly what happens with my assets. A trust will allow you to make decisions
years and years and years from now. So typically people get trust when they want to do that, especially with your children, or if they want to leave something for generations that are not even here yet.
Yeah, so you can the passing of wealth, yes, because it's not just your bank accounts, right is it also your assets and your business? You know what happened that?
So with my trust, I was like, okay, so I have a really clear cut will if something happens to me, my parents get some money, and then my sisters really just split my account for ways, because that's it, you know. So but I was like, but my two of my sisters have children, so I wanted to dictate how I wanted that to look just because of what all that I'm going through with my late husband's assets, I'm like, oh, if I would have known this, we would have done this.
I'm like, we're not doing that. So just to be clear, like, if you leave money to a child, the state that you live and will typically hold those funds and till they turned eighteen and then they really can't do anything. You know, the eighteen year old can blow it, which they likely will, and I'm just like, knowing what I know now, I'm certain that my husband would probably be like, ugh, I probably would have want to divvy it out a little bit further. And so with my trust, that's what
I'm doing. So I have accounts for all the children in my life currently. So I've got like custodia accounts for Alyssa, my stepdaughter, whereas most of her college fund is. I've got for my nephew Roman who is six, my niece Amelia who's five, and my niece Lily who is I believe three, three or four and so but instead of having them be the beneficiaries, I'm now going to
make the trust the beneficiary. So if something happens to Auntie, your money goes to a trust, and the trust says, you thought you was getting this at eighteen, You're not the trust that because normally a will says something happens to Auntie, it goes to you, the court will hold it when you turn eighteen, it goes turns over. I'm like, no, no, no, no, I want to still be here guiding you. So it goes to a trust now, not to you and the trust. Then I could have a trust give it to you
when you're eighty five if I wanted to. So you can put things like that, so it's not that First I was like, well, Tony, should I put, for example, of my home in a trust. And the problem with doing so is that when you put an asset like that and a trust, it is a taxable event, meaning that the trust has to purchase the home or if you transfer it to the trust, now the trust has to pay taxes on that home that or you have to pay tax on the home because of the sale.
So I was thinking, like I thought that I had to transfer. For example, like say I have like an investment account. Let's just say there's a million dollars in my investment account, and I'm like Okay, I want to put it in my trust. She's like, if you do that, you actually have to sell the investments and to put
them into a trust. And I'm like, well, I don't want to do that, and she's like, what you're thinking about is siphany is that you really want to make instead of your assist there's the beneficiaries of that investment account. You make the trust the beneficiary, and so if something happens to you, then it gets switched over DC And I was like, oh, so one of the benefits of a trust is one being able to tell what you want your money to do years and years and years
from now. But also a trust is going to allow you to sidesteps some taxes because, like say, for example, in the state of California, a state inheritance tax is pretty high. So something happens to me and my heirs inherent the government is like, ooh, child, half that is mine, give or take right. But with a trust that's not so because no one is inheriting anything because it already belonged to the trust. But if someone wanted to go in and withdraw some of their money, then they'll pay
income tax. But that's normal. So you're not paying this estate tax, but if you do withdraw money from the trust, then you pay income tax. So it helps to one avoid probate, which basically is like the ring side circus to all your stuffing givvied out. And two it helps you to that like I don't want to say a void, but it helps you to sidestep inheritance text because they're not really inheriting it. The trust is holding it. The trust basically is like you continuing to live and divving
it out. So it's just really interesting. Because one of the one last thing for those of you who are business owners, because I know so many Brown and Vission listeners are business owners. I said, so, Tony, how do I protect my business interest with the trust? Same so my mind, and we should do this too, honestly, many. We need to get on our operating agreement from Brown
and Vission sidebar. My operating agreement for the Literature Academy says, so my literature Academy, I have a business partner in that business, and it says if something were to happen to me, my my shares in the academy will go to a trust. Not at first it said it was going to go to my husband. But now I'm like, no, no, no, She's like, this is why. So it goes to that trust and then from that trust it you know, gets
divvied out to like my sister. However, and so I'm like, okay, the rule of thumb with a trust is if you don't have at least five hundred thousand dollars in assets, this kind of doesn't make sense. If you have over I think it was like a million or two, or I think it's maybe five million in assets something to that effect, you definitely ought to do it because the
state taxes would just be tremendous. So yeah, so I'm hoping that's making Does that make sense that, like a trust is like I want to tell you what to do you're from now. A will is like I can only tell you what to do at the moment that I pass away.
Yeah, and it's not just about I mean, I guess and to your point again, I'm trying to repeat it so that it sticks to my brain. And a will, you could say, you could plot it all out. I want so and so to get this much at eighteen, that much at twenty five. But the key here is the tax the tax savings because when it's inherited by an a state like you said, you don't have or sorry, a trust like you said, you don't have to pay that estate tax right, and they'll pay taxes on it it withdrawal from it.
And a will, there's more leeway for people not to listen, you know, like meaning like you can say like, oh, you know, like I can say, like you know, Roman's gonna inherit, you know, and I really wanted to be parceled out, but it doesn't happen. It's typically not gonna happen that way because if you leave money, you can have some direction for it. But ultimately the state is like,
once this child turns eighteen, that's their business. But with a trust, the trust is actually there's a trustee in place that actually, by law must divvy it out per your instruction. The state is not gonna The state is like the state that you live in, like New Jersey and New York. They don't work for you. They're like, sis, all this when he turns eighteen thirteen, No no, no, no, no, like you know, like when he turns eighteen, here's the
life insurance. So that's another thing too, that's in my trust. That my life insurance, especially with life insurance, because that's usually where you have the most. My life insurance, that beneficiary is going to be the trust because especially with the life insurance, they're like, girl, we don't care none about your divvying. The person is going to get it upon your death and less they're minor, and then we will hold it until they're eighteen. That's on you how
you want to divvy it up. But with the trust, the trust will divvy it up because they do work for you. And so just considering that if you have, if you have started to grow wealth beyond half a million dollars or so, like, I'm not going to put my home in a trust because the taxes I would have to pay as a result would just be too much. But making the trust the beneficiaries of parts of like my financial life is really going to help me to make sure that the wealth that I have grown, you know,
it sees more than one generation. That's really the key because if my heirs inherent via a will, it could be gone in one generation. But a trust allows me to say, even if that generation messes it up, I have set aside for the one after that and the one after that.
I was going to ask you, so do you have that in there, like romans years as well, even.
Children, and that I'm not even born yet. Like, for example, my sister is really young. She's like, you know, she hasn't had children yet. But if something happens to me, I want to put that in there, if another child is you know, sired, this is what's going to happen. And so it's like it's just like.
Oh, I get it now, Yeah, this is the real.
St yes, like the grown like financial stuff. And I'm like, wow, it's so good.
It's such good timing too, not just because someone had advised me to do it, but I was on a panel on Friday, like a juneteenth early June teenth panel, and there was this incredible woman who I would love to have on the show. Consider this your formal invitation, doctor Jolly. First of all, she has the most incredible name,
Doctor Pamela Jolly. She is a generational wealth building expert in Black communities, and she has dedicated her career to working in the black community and educating them on exactly what you're talking about. But her obsession, her her passion, is how to pass on generational wealth. And she literally was just making this point about how in our community is so much is focused on accruing the wealth and
it's in the passing on of it. Is that even the right grammar anyway, that we are sorely under educated. So I'm just it's all synergy and all magic to have her on someday. But yeah, absolutely, And you know, I think like the overall message is like the work is not done when you just earn the money. It's like the responsible thing to do, truly for future generations is to take that money on a journey, and like where is that journey going to take? How far is
it going to go? And it's like you're ensuring that it's going to have.
A long, long, long, long, long life, because it's not just because I've seen people, you know, like there's this beautiful house here in Newark and there's a woman here who used to live in that house, and she was like, her grandmother was a one of the first black women millionaires. I forget what she did, and she built this beautiful historic home. Well now it's historic, and now that his that home isn't disrepair. So I'm like, so your grandmother
built millions. It was passed on to your mom or dad, and now there's nothing for you. What a short lived life of that wealth. And it's like why and so one we have to pass on knowledge, not just the wealth. So I'm always in Alyssa's behind, Like like the other day she asked me, She's like, can you buy me own some summer clothes? I said, of course this. We can go right on to the outlet store and hit up Old Navy in the gap because I know, like they're gonna have a solid clothes. She was thinking. I
was thinking more like Sheen. I was like, no, what is Sheen?
I'm not convinced that it's we I could go on. I'm convinced it's like a scam.
How is it her thing?
For ninety nine?
I mean, and it was like six, First of all, you don't you don't hang up clothes. You're gonna drive these clothes and they're gonna be plastics, like all, it's not happening, right. But I'm always talking to Lissa about finances because I know I won't be here forever and I want to pass on the knowledge. That's one. But just in case the knowledge don't stick, I am also passing along like you kids kids. Yes, And so that I think is what's missing that it's not to say
because people make mistakes. There was this there's this really interesting YouTube documentary I was watching about the people of Appalachia and there was a woman there. She had to be like in her seventies or eighties, and she did not have a college education or high school education. But she was just sharing how like, generation after generation after generation of her family had lived in the Appalachia Mountains and they had like two hundred acres something. It was
just beautiful property. Here. This old woman is who was like, I don't have much learnings, and I've set my kids to school, and my grand babies are all college educated, and this son is an attorney, and da da da all this stuff. But guess what all this probets that I have. One thing I did know was I put it in the trust, she said. And when she said at the time, I didn't get it, and I get it now, she said, because there won't be any weak
links in this family destroying our legacy. And what she meant was with a will, my with a will, you say, my son inherits this property. Great, but your son can then sell it to Walmart. Then what because you could only tell him what to do at the moment of your passing, you inherited it. With a trust, is my son inherits his property and can never sell it. That's what the trust say is and has to pass it on to his son and his son and his son. So with a trust you can say years from now
what to do. And she basically was like, I don't want any weak links selling off this generational ancestral land, you know, to make a quick buck, because she said, this land doesn't just belong to my son and you know, my daughter whatever, it belongs to all those that come after him. And I was like, wow, you know, and so that's what's like. So you know, it's just critically
important estate planning. It's so important. And you might think to your something that let me just give you a little encouragement if you're like, well, I don't have a ton of money, and YadA, YadA, YadA. My husband, candily So never made over sixty one thousand dollars a year, and before I got to him, this man had a personal policy of two hundred and fifty thousand dollars that he set aside for his daughter. He had policies at work.
I think the job policies almost total about four hundred thousand, because he had life insurance at the job for about two hundred thousand. And then he also had a pension which was like another one to fifty two hundred thousand something to that effect. And so this is all before I got to him, Like he got additional life insurance at work. I just found out additional life insurance at work.
So this is someone who my husband, who had never made over sixty thousand, he prepared for his in Meanwhile, he got the the two hundred fifty thousand dollar policy when my stepdaughter Alyssa was five, So he prepared in advance. For God forbid, something happened. Now it's not enough that Alyssa will never have to work, but it's enough that
she doesn't have to worry about school. She shouldn't have to worry about her first she doesn't have to worry about prom, she doesn't have to worry about her sweet sixteen that's coming up. She doesn't have to worry about even like the down payment in her first house, all those kind of like Dad ask financial things. This man who did not go to college, who did not make more than sixty provided for his family in this way, and so I just I'm encouraging you. Man. You know
that you can. You don't have to make I'm saying that because you don't have to make a ton. I know it's like, oh, it tiding. That's easy for you to say, girl, with your budget, he said, no, take me out of it. This is what he did, and so I just I just want you to know that it is possible for you to do the same. It just means that you have to look at your paperwork
and make a conscious choice. And that trust thing is so critically important because there are parts of his estate plan that he entrusted to folks who have now decided to not do what he initially intended. And so with the trust there is no option to behave like that. And so that's why, like I've really been on a cre saved myself to be like mm hmmm. Put it in trust you if it makes sense for you. Make sure you have a very clear will about what you want to happen with your funds, and do not trust
that someone else will take care of it. You can literally have the directions written in trust and in will and not have to worry about like someone else, you know, looking after the funds on your behalf or behalf of your child because when money comes, people act funny when you know when the money hits.
Can we talk about this magical mystical trustee because in my brain I'm picturing like Duane the Rock Johnson, like that's in like a real fire business suit, like maybe something that he wore in ballers, not that I have you know, solidified those to memory because he's going. But anyway, I picture him like protecting the vault.
You know what I mean.
But where does one get the trustee? And is it through your financial is a financial firm? Is it your attorney? What if she does? Like, how does that all work?
So? I mean, I'm not attorney, so but so I know that I'm a revocable trust. You can be the trustee on a revocable trust, which is what they suggest that you be a trustee, and then you have backup trustees. Right, so you're gonna want for your backup trustee. To your point, you're gonna want someone who you know, like has some basic education. It's not that you know that a backup trustee is not gonna be allowed to just run rampant because they can easily be sued for not doing what
the trust says. And so you're gonna want someone who you know at least can kind of understand the process, is not gonna be overwhelmed by it. I don't know if you can ask your financial advisor. If I'm being honest, I just know what the revocable trust.
Like you too.
It would be like an estate planning attorney, like someone who's objective ish and isn't a family member.
Mm hmmm, yeah, I mean, I guess I'm not gonna lie that. I'm in the part now where I just spoke with Tony today and she was like, oh, for for every Just so you know, a revocable trust is a trust that you can make changes on. You know, you know, you can make whatever decisions you want. Like that's when you hear people say I'm take you out the the trust, you can do that. Revocable trust and
irrevocable true us is lotsis. That means you can't change beneficiaries or people without everyone in the who are beneficiaries agreeing. So I'll give you an example. Kobe Bryant listened to his mama and was like, I don't know if I trust Vanessa and them, and like, you know, because I have children and I want to make sure God forbid something happens to me that my kids are looked after.
So he had an irrevocable trust created for his children where the vast majority like he left her something obviously like generously, but the vast majority of his wealth went to his girls. Now here's the thing. The way his trust was set up, he did not add a child until they turned one, so when he passed away, the baby was not one yet. And an irrevocable trust is basically locked unless everyone's in agreeance, we can make a change.
So she had to petition the courts to say, reasonably, so my husband would want his daughter in this kid's trust, because that's what we did. She just was not one yet, so you know, the judge have to be like, okay, okay, everybody's okay and so, but he made it irrevocable because he didn't want like God forbid, Vanessa's I think she's dating someone. Now let's just say she marries this new guy, and this new guy has four children of his own.
And she's like well, and he was like, well, I want my kids to have some of that money too. Kobe's from the grave is like, not my money. That irrevocable trust cannot be broken open to add some new folks. And so you have to be careful with irrevocable trust because it really is irrevocable. You can't just be like I'm mad at my sister. She can't be in it anymore. It's irrevocable, sis, unless you call your sister and say, can you agree for me to remove you from that trust?
So for now, I'm starting with a revocable trust. And maybe he's I get a little older, like let's just say I'm eighty. I'm like, well, let me go ahead and lock this in, so can't nobody come in here make some changes. But yeah, that's the difference. And then with an irrevocable I believe if I vaguely remember that, I don't know if you are allowed to be your own trustee. I think you do have to get a trustee for an irrevocable I don't quote me on that, but I know for a fact, for revocable that you
could be a trustee. And you should also have like some sort of like backup trustee.
Yeah, I want I want backups, backups on back Yes, that's the whole point, right, What if something happens to you.
I'll just give you some quick little homework that Tony had given me before we had our call, a trust call. She said, name your trust. I mean, you can call it balloons. They don't care, you know. But one thing she did say is be careful about naming your trust your name, like Tiffany Lechay trust because trust can't be sued.
So someone might be googling, like I'm so a tiphany and they're like, ooh girl, she got money trust, not my bubbles, trust bubbles and them good luck finding that, you know, Like, that's not obviously the name of my trust, just so you know, name it, but be mindful about using your name out of you know, just because two figure out the beneficiaries of your trust, you know, so like I said, for me, it's the kids and my
sister's YadA YadA. Three, you have to figure out what bank you're gonna want your trust because you have to fund it, and then uh four alternative trustees. So certainly you can be a trustee. But she like you know, you have to figure out like you know what, there's
some alternative trustees. So yeah, so I just think like honestly, and as I moved through the process, I will come up like, oh today and trust we did this because I think it's important for us to all learn because honestly, as much as Mandy and I have all this financial education, trust our yes it's financial education, but it's also just a lot of law. And so I'm am an attorney and neither's Mandy, and so we get to learn like firsthand, like,
oh that's how you do it. So as I learn more, I definitely will share more.
Isn't that the magic of the show. You come along for the journey. In a couple of years now, it will be like, yeah, remember that trust Oh yeah, we were babies then we're talking. I don't know what will be doing a couple of years from now, who knows, but yeah, that's awesome, And I think so I've definitely want to have doctor Jolly, and I got to remember to invite her on because I think about my great grandpa,
great granddaddy Woodruff, my dad. I had no idea. He was a successful farmer and he had a profitable farm in Carrollton, Georgia, land and cattle and farmland and was a businessman and my like a couple of generations from him. Lots of my dad's family are are have not ever seen a piece of that. And and it was very much because of that lack of the passing on of generational wealth and the you mentioned the probates and the so and so sold the land to a developer, just
like you said. And I'm just beginning. I'm having like these conversations that are blowing my mind. I'm had to get down to Carlton, Georgia, and I want to learn all about this. But yeah, such a relevant conversation. It's
a shame too. You know, my my living uncles, my great uncles, they were sharecroppers, like you know, I'm not, it's not And that's what doctor Jolly talks about is how you know how close we are to ancestors were working in fields as slaves and then sharecropping and all of that, and you know, and being four generations from that, and the lack of education, like you're saying, as shite so crucial has created this like fractured, this fractured like
timing this fractured growth where we're not actually benefiting and building upon that foundation. It's like we got to like tear the house down each generation and start from scratch, and we got to like break that cycle. Yes, absolutely, so I look forward.
To I love that tear the house down with each general literally rebuilding every single generation. That's such a good analogy.
Yeah, because my granddaddy, my great granddaddy would rof have had to learn the same stuff i'm learning, you know, different different industry. Obviously I'm not Ira pigs, but all those lessons you know, who knew I didn't know that I was. That was in my history. So yeah, powerful, powerful, powerful stuff. And thank you as always for sharing and letting us peek into your get some some free secondhand advice.
We love it, my messy life. Yes, so we should cut to a quick break. I know hopefully you've been furiously taking notes. Will be right back with some brown boost or brown break, and now it's time to boost up, break up, boost up, break up, boost up break bo break.
Hurry, my lymphnoes are swelling.
Okay, how we gotta boost that you gotta break. I think we decided we gotta do like a joint Boosty breaky.
Right, we have to do a collective boosty breaking theme booster breaking themed boosty breaking. Yes, we are just six days well when you guys hear this, just a few days away from Juneteenth, which of course celebrates the emancipation of slaves and moving on to a new a new future. And finally, June teeth is getting some shine. We have company holidays. It's a federal holiday now, right. Yeah, I
was to Biden. Yeah, but shout out to producer and Moni who sent us this article from Newsweek about how some y'all are just is cracking me up. But also why not you know, there's this whole debate about preparations. Black folks of the internet said, why wait, why wait for legislation, Let's start giving people our cash apps and letting them go ahead and donate reparations to us. So
this has apparently been happening on Twitter. So Twitter versus been talking about all the different ways to send money to Black Americans directly via cash app, Venmo, Apple, pay, Anzel. People have been telling their followers to comment with their user names and they maybe sent money to celebrate the holiday. Y'all want to make some quick cash.
Have you ever seen people like you know, have you ever given to anybody like not just for Juneteenth but in general like cash.
Yeah, I do love my TikTok and I feel like part of your TikTok bio these days is like a cash app name, especially for the beauty of TikTok. Because I sometimes will get on my four you page homeless people who are living in shelters and are sharing their experience, and there is this mom and it really struck a chord to me because she had recorded herself doing her daughter's hair and her she had a toddler and a
baby and are in a homeless shell. This was like live a couple of days ago in a homeless shelter in the Bronx. And I can't remember her name, but yeah, she had. She wasn't even asking for me necessarily, but TikTokers will tend to ask you, you know, if you're if you're posting, like what's your cash app? And so yeah, I did donate. I did donate to her, and that felt it felt good. It felt good to be able to see something and then do something. Yes, you know, feel like I made it a tiny bit better.
M HM. And I mean, that's always nice. I did that for there's a YouTuber not YouTuber instagrammer. I think it's like mainly manny or something like that. But he's hilarious, and he was like struggling with like I think he couldn't afford rents or his grandmother had recently passed away and he'd been staying with her, and it just he was having a hard time. But I know that when I was having my heartest of times, it's one of the few places I knew I could laugh because he
does the skits and stuff. And so I said, you know what, when I saw that, I gave him like fifty two one hundred bucks. I can't remember, you know, I just cash stapped him some money because I was just like, you know, you've helped me get through a hard time. Hopefully this is a little something to help you. Yeah, it looks like it works, because later he said thank you guys so much, and I was able to find an apartment or whatever he was looking for. And so,
I mean, I know, it's odd. It feels like people giving you money, because when I first saw people put in their cash apps, I'm like, that seems weird. But then someone gave me money. I did not ask for it. I was doing an IG live maybe like a couple of weeks ago, and when I got off, it said, Tiffany, you earned ten dollars in badges. I'm like, what. So apparently when you're live, people can like basically send you
money by purchasing of the badge. And I can't remember how much you have to make in order to like do a withdrawal, but I'm not there yet. I'm like, you know, twenty bucks in asked for that, So I thought that was interesting.
Yeah, it's definitely it's making it easier for creators to see some financial gain. I mean, I still think it's really hard to get to a place where you're making money directly from the platform itself. Like, of course you can sell your product and make money that way, but you know, TikTok and IG are both hopefully working on ways to help creators make more, but it's not it has a long ass way to go. Wow, I was thinking about this whole national holiday, you know, now it's
a national holiday. Even our podcast network, Cumulus, We're just trying to figure out what we're going to do next week because they are celebrating or they're observing Juneteenth on that Monday, and I do I love that companies in our country have finally recognized as a holiday. But I like the idea of okay, so what are we gonna do? You know, Mlkday became a day of service, and companies,
would you know, give back in that way. I if you're at a company that has, you know it, lets you guys observe Juneteenth, I would still not.
I wouldn't.
I would not stop asking for you know, what are the retention rates for workers of color? How are black people at this company succeeding? Especially if you're interviewing asking those questions an interview. I really recommend people ask them, and sometimes I get like, really, you're going to bring
up rais in an interview. I would much rather know, you know, before I join a company, if there's anyone, especially when I'm coming into a company, you know at my level, maybe VP, SVP, I would want to know up front, you know, what are my odds of success? You're in an art does anyone look like me? And do they have a proven track record of women of color winning? And if the answer is no, then I would definitely think twice about you know, joining that company.
So even though I just don't think it's an obviously it's a nice gesture, but you have to continue holding these companies responsible for doing a lot damn more.
Yes, it's like like when they slap on like you know right now, it's pride, like we get it. Orio has has a rainbow feeling, But Orio, what are you doing behind the scenes to support that community financially? Okay, So like that's the thing that you know, a lot of these companies will slap on. You know, Oh, it's it's history month. Everything is black, like black, black black. And then you look at like, you know, the way, like the way they're hiring practices, you look at you know,
how many people are promoted. I'm much rather that than saying like I've got this T shirt that says black on it. I remember there's a company that.
Was just black, dude, black.
There is this company I they wanted me to partner. This is like during the height of like George Floyd and that, you know, Black Lives Matter movement, and they wanted me to do like a they want me to do an ig takeover. And I was like real sassy. Then I was like, okay, well, can you tell me how many employees you have? Black employees you have? I was like literally zero. I said, okay, what about contract Well you would be oh I get to be the first now. And I was like, well what about forget black?
What about just people of color? Mandy? I was like, damn. The bar was in Helle. And then I was like they're like, oh wait, wait wait. You know when we run ads and stuff, we do hire some like you know, you know, people to do our commercials. I'm like, oh, so you take the black dollar, but you just don't pay black people kow cute for you kick rocks, and so for like every month after that, they would be updating like hey, you know we're trying to hire blacks.
I honestly it was really terrible. It was it was giving cringe and I'm like, honestly, I don't need your updates, like you know, look in the mirror for that, Like, you don't have to update me every month. I'm not working with you like the answers and oh no, because you know, if you want me to be more black band aid.
Yes, so yeah, absolutely, you have to make them uncomfortable. I remember having a conversation with our podcast network about how we have no black producers hi Amani and one of when a position opened up, you were on hiatus, but I sure did email my buddy John like hot. You can cut this out if you guys decide too, It's fine, but.
I think people should know.
Keep it, damn it, keep it.
It's true. I think people should know.
They should know that you if you have a teeny tiny bit of power and you feel so moved, why not ask You ain't got to be black to do it either, you really don't. You know one company that I think is getting it right. Maybe I hope that that I'm not wrong here, but Target seems to be stacking their wins. Like Tabitha Brown just launched a beautiful collection. I went and grabbed me a nice dress from her collection. A lot of it is a bit is Tabitha Brown
right explosion. But they, you know, they have the They focus on getting and spotlighting and amplifying black businesses you know, in their stores and actually helping you identify so that if how you want to celebrate Juneteenth is purchasing from a black business that you can go to Target and potentially do that, you can also do it you know, we'll post a link in the in the show notes
for some roundups of black business. Is maybe you could purchase from and just you know, vote with your dollars.
I'm not so although Target, I never see my book anymore in Target. Is it sold out or you're just not purchasing more? Every time I go to Target, I'm like, don't esta me libro, look at my Spanish. That means, where's my book? For those of you who are not bilingual like me and Mandra, it's all like, for real, always like where is it? Has it sold out? Or it's sold out? Here? Target? Away? I thought we were friends.
People are wiping up in the mornings and they wait and they say.
No, but no. But honestly, that's I mean. And to your point, I don't know for sure, but it does seem as if because there are a lot of people who I know, Like, there's makeup line. What's her name. She's out of Detroit. Her name is Melissa. She's got her make up the lit bar, no I think it is a lit bar. And she's got this new makeup line called a thread. Also, uh, she's another woman who
makes the T shirt. Who's the woman that makes a mess in a bottle, Khalila Wright, and so she had this whole thing also unique, I remember you unique last name. But she's got this company called Because of Them we Can. But she created this really fun game called culture Tags, and so like that's highlighted a target. So yeah, I do like them. They seem to be going out of their way to highlight and create space for these black businesses.
Honey Potter, which we have to talk about, you know, we don't talk about this this week, but honey, I.
Know, and he wanted to talk about that, but yes, yeah, like one yeah, so and what's the butter bar that you always talk about?
Yeah, but I don't think the butter bar is in it's in Target because they the thing about oh yeah yeah they're great and so pooka butter bar, I know to see. But yeah, so I just I like that, you know, we Manny and I here try to create space obviously for like black and brown women, you know, whether it's in our own companies. I would say ninety
of my company are black and brown women. Have you on the black but although we have other women as well, and then that that's you know, I intentionally try to create a space obviously, like I'm looking to hire the best that's out there, but we really try to create a space where it's like, sis, you could be the best, come on in here. You know, let's interview, because I certainly have interviewed a wide range of folks and you know, but been very very conscious since that's the large ardent
that I speak to. I wanted that folks that really understood who we're speaking to, how and why. So that's what I look for too.
Plus that's I just don't change without intention.
Yes, exactly, you have to be intentional. So I guess the boost here is lip service. We see you and then the but that's the break, the break and break is the lip service and the boost is for those who are really doing it. So we you know, botoop boop for you.
Shout out to my neighborhood for having a cookout. Is everyone invited? I don't know. Actually I'm not invited.
I am.
I'm in the COVID house now.
Oh no, no, you know what I'm actually doing taking part in a Juneteth event on Sunday. Let me let me pull it up here, Wilin because it's like literally everyone's gonna be there Tanya speaking Earn Your Leasure ash Cash. It's like, honestly, of all the financial events I've ever done, it's hands down, I've never seen more people.
Like incredible going down. I found it, Tiffany Elie Chase tweet going down with Angela Lee Angela Yee. Biggest financial education event in NYC and honor the Black Money Forum.
That's what it's called. You tweeted it. I found it.
I know, well I didn't eat it, but you know, look at the melanin Yes, okay, yes, I see you in the door an invest in stocks, real estate, credit, business, personal finance, free community event. Black Moneyforum dot Com got it.
So it's gonna be it seems like it's really gonna be super awesome and so yeah, but I love it because it's it's on juneteen, it's full of black educators. We're talking everything that you can think of about money, and it's sponsored by b E and the T So it's super black, so more and it's going to be in person. Yes, and I'm almost positive that it's free.
And it is free.
It says so free community event. So if you're in NYC, Black Moneyforum dot Com.
It's at the King's Theater, which is in Brooklyn off flat Bush. Can it be any blacker than that? Flat Bush?
Every I get a shade darker with every sentence.
You utter, So join us on over there.
It's just saying a lot. I am getting pretty tan from watching my caterpillars hatch. Okay, oh, I love it all right, that's so exciting. Happy Juneteenth, y'all. I hope you celebrate acknowledge it in some in some way. I'll be celebrating it from my couch watching endless hours of blippy so post pics and all live vicariously through y'all.
Oh, and thank you for doing your homework. Some of y'all. Some of y'all did not do your homework. That's sending us the like continue, I love that, Continue to screenshot and tag us in how much the apple stock that's an Apple?
No? Amazon?
Oh yeah Amazon child? Yeah yeah. So because I love to see I want to see the progression, because it was like one twenty four when we chatted like right, Mandy, like and then someone sends me I was like, oh wow,
it's going all the way down. It was like one o nine and so like as of right now, let me pull it up right quick, because it's gonna be your homework to screenshot and tag and we I promise next time because run out fam but will actually shout you out because I think that it's really good to like you get to see like how Amazon be going up and down. Now someone tagged me like yesterday, now it's one o four, so it's it's dropped everything like twenty dollars a share already, So yeah, yes, why I'm
asa stick to my index? Fun?
Is it going to keep going? Maybe I'll buy.
Something I don't know, so keep a eye on. So let's talk about it like it's one o four twenty eight right now, So screenshot what the stock prices of Amazon when you're listening to this tag the BA podcast on Twitter? And you know what, because I do want to like honor it. Maybe do you have access I'm reading it? Could you just read a shout a few people out just so we could be like, yeah.
So shout out to Dee Brown twenty one fifteen. She did her homework. Let's see who else? Meg, Oh, Megan, Meghan or Meghan, I don't know. Wasn't that like a kem pil skit anyway? Megan at lush zeb She she tweeted us when it was one eighteen. A share bandemic Baby said it was yet also tweeted us when it was at one eighteen. First Gen Rise at first Gen ri Rise tweeted us it was at one twenty. We're just going backwards up the hill. And then I am
Malahikia Malakia. Sorry if I pronounce that wrong. I am Malachiya said, just heard episode three one one. I also enjoyed the podcast and welcome back Tiffany, and she took a screenshot it was at one twenty two. All right, are you still one more? Ava Lucian, Yeah, we're going back. Maybe I'll start the beginning next time, but hopefully and it shows you too. It's just how easy it is to Google and see where the prices are at. And
even on Google they do a good job. You can see the historic value of companies, where they've been in the past, where they're going. It's the big if that's the first thing for people to stock this.
I feel like we should do it. We should give a little homework and be like this is where you submit it, so we give you a little shout out right. I like that so contindue your homework tag at the BA podcast and we will shout you up at the end of next episode. Let's see how the stock is doing. Hopefully eventually we'll be able to say it's up, it's up, because right now it's not.
Yeah. Well, even if you're just investing in general, tweet us let us know how things are going. We want to support yeah always. Well, thank y'all for another incredible week of Brown Ambition. Stay tuned for b a Q and on Friday, we will be here with a new episode this coming Friday, so we'll talk to y' all then. Bye, Hey, BA fan, We could not do this show without your support or the support of our team behind the scenes. The Brown Ambission Podcast is produced by Cumulus Podcast Network.
It's edited by the.
Wonderful Imani 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.