Hey, hey, hey, we're back and I'm black and we're brown.
I missed you last week.
I know I missed you too.
I was like, am I doing Mandra Proud doing this interview solo?
Nola?
Tila try to take my job? No?
Yeah, Tula was fun. She was she was awesome. Forget about to you. I guess his birthdays tomorrow?
Oh she famous presidents in her time. No, Beyonce was a September birthday. I can't think of anyone special.
It's not why is it? Like? What is your birthday? Like You're like, I don't care, and then when it gets to You're like I do, I do? I do care?
Right, it's my birthday. I don't know why exp I'm not going anywhere, but I will say I just got back from Mexico for like a retreat where I spoke and it was it got like a birthday trip because it was three days and the most beautiful isor I'd ever been in. So I'm like, you know what, I went away for my birthday unofficially, So.
Happy early birthday? Yeah, I thank yeah? So are you just keeping a low key.
I don't know. I don't know what Superman has planned. I don't know. We were supposed to go to a spot, but I don't know. I don't know. We'll see he has planned.
I told him he doesn't have to go crazy because quite honestly, you know, just trying to get the house done at this point, you know.
Yeah, But is it really like that or is it like if he doesn't do something, you're going to resent him, because that's how I usually am. I'm like, oh, I don't want anything special, but if you don't do something like.
I just want something like you know, like honestly one thing that I do enjoyed, Like I think one year we went to a comedy club or comedy that was fun. So I feel like I would love like something like that, something fun and dinner, and honestly, I feel like that would be more than enough.
I feel you on like the we've already had the conversation about Christmas time, and I'm like, so you're cool with no presents, right because there's this house I know, or can we get a couch for Christmas? Because we probably are going to need one of those?
And that's honestly how I feel.
I'm like, eh, I'm not you know, there's no big because I was even saying, you know, you know, I think it's kind of time for you to get a car.
He's like, let's wait.
Until after all of this because like his car is like on its last wheel.
And he's like, yeah, but well, where we live is like where we live now.
He works like right here, so he's kind of like, I don't drive that much. Let's just get the house done. And every time I go to the house, I'm like, Justin, so I'm working. I would say I love my contractor. He's amazing. His name is Justin, and first all, it's funny because whenever I put him on social media, all you hear me say is Justin. But he's West Indian honestly, and Justin is like the best because he's really like what I like about his personality is so easygoing. So
I'm like, Justin, I don't know Justin way. I don't like the windows like that. Justin the bathroom's so small, you know, he takes everything astride. I'm like, Justin, you must have sisters. He's like, I have two. I'm like, oh, he's trained you well.
So he's awesome.
His company is called Build Team Construction. Honestly, he's I'm really fortunate because you know, we remember we I think we both interviewed it.
Did you interview a bunch of people?
We got quotes from three different contractors and we ended up going with the most amazing person ever. His name's Javier, but yeah, we did. We did quotes and then we finally settled on Hovier, who wasn't the cheapest, but he was the best choice.
Same thing, Justin was not the cheapest.
He was some place in the middle, but he was just really a good choice because which you really want someone who is going to listen to you but also obviously going to give their professional opinion. And there were just some like there's always unexpected things like one of them, like the stack.
I'm learning so much about plumbing. I'm like, wait, what right.
He's like, we had to take all this out. You see this corrosion. I'm like, what does that mean? Justin, That's what I told them to.
That it means money, right exactly.
I'm like, Justin, what are you showing me these scraps for.
He's like, I'm just.
Letting you know, because we're we're the basement's getting redone, and I guess the basement us to flood a little, so we're getting a French strain. Yeah, it's like you do like a trench around the inside perimeter of the of the basement, and so like in the trench you put like a big huge hose and so if water tries to come in, it kind of goes to the hole. It's almost like having what's the you know, like the gutters that the leaves fall into, like on the outside
of the house. It's like having that inside the house but in the ground, so that way the water doesn't come into the basement. It comes into the hose, and it like kind of like goes through the holes outside. Sure, So but like that, I'm like, Justin was showing me all these things like oh, Tiffany, we had to irrigate the navigate.
I'm like, Justin, I.
Don't know what those were. Its mean, And I'm always telling Justin, I'm not paying no more money. Justin I went to you always laughed at I'm like, I don't know what you're laughing for. No, but it's at least it's coming along, which I'm happy about. So today I went to go see speaking of like money and teams, I went to go see Carlos, my accountant, and I did my Q three like reports and taxes and IM
and today Carlos. It was kind of like last minute as I was about to leave and I was telling Carlos, I said, I don't understand why, because Carlos has instructed me that, you know, to set aside thirty five percent of like the income I get from the company in my in an account for taxes. And I'm like, Carlos, I never have like enough in my tax account based upon like what you tell me I'm gonna owe.
Why is that? You know? So we were kind of going.
Through it, and I was like, it's so frustrating, I said, because we don't like I have a three three come well four with Brianna Bishon, so four companies, but with the three I only really withdraw money from one of them, the Academy, and the other two companies we really like reinvest the money to grow or like sometimes we just keep the money in there, like I have a business partner with two.
Of my companies.
And I was like, so it seems unfair that if I don't pull money out, why am I being texted on it? And he was like, I'm like, is that what people do like it, Like, I'm sure the you know, what do people do at Amazon Apple?
Are they like getting taxed on a billion.
Dollars even if they don't make a billion dollars, like take home a billion, you know? And he's like, no, they're sea Corps. And I was like, do explain more. And it didn't make sense before, but my company were. They were an es corp and two of them still are. But Carlos was sharing that the difference with an es Corp is basically it's like a pass through still meaning that let's just say my company makes one hundred thousand dollars, then Tiffany makes a hundred thousand, whether I pull the
money out personally or not. But with the C corp the benefit is and then that at our current tax rate, we're about thirty five percent or something like that. That's what our tax rate. My tax rate is now something to that effect. But with the Sea Corp, the business itself, this is based upon the new laws by our president. The business itself is taxed at twenty one percent, which
honestly is criminally low. But this is like what he's done that the business itself is taxed at twenty one percent, and any money I pull out for Tiffany is a tax. I have to pay tax at fifteen percent. So what's great about it is is that if I have a business that I'm not pulling money out of, I'm only paying twenty one percent taxes. Well, the business is only paying twenty one percent taxes, and I'm no longer paying
this extra tax for money I'm not receiving. So we looked at the companies and realized that two of them really should be sea corps because we're not me and my business partner. One company's a Budgetista, which is just me. The other company, I have a business partner, it's a marketing company, and so we're not pulling money out and I'm not pulling money out of Budgetista right now, it makes sense to be a sea corp. And he redid the numbers of what I have to pay for the
last two quarters of year. He does an estimate and if you read the numbers, and I save one hundred thousand dollars.
Damn. Wait a second, So why didn't he do this before?
Well because it didn't make sense before because before, well, one, the marketing company is brand new, so there wasn't like, so when I started it, it was just like, hey, be a escorp, you know, which is like, you know, makes sense because if your business is making over six figures, it really start time to look from going to an
LLC to a escorp. Or some people go right into a escorp, which is fine, but like if you're first starting out, some people doing LLC, which is fine, but if you start to make a little bit more money and the escorp is going to make more sense because there's self employment tax that you pay with LLC and your account should be running the numbers for you consistently to see where does it make sense? So I switched
from an es corp. I think, laugh from LLC to an escorp last year or like two years ago because it made sense and it saved me thirty thousand dollars in taxes.
But this year.
The thing is, if you're pulling money out of your company consistently and most of the money out, then being an escorp makes sense because you get taxed one time if you're not pulling money out, like you're not pulling a significant amount of money in comparison to what the company makes. So let's just say your company makes one hundred thousand dollars and you're pulling out one hundred thousand.
Be an escorp.
If your company makes one hundred thousand and you're pulling out twenty thousand and keeping the eighty thousand in the company because maybe you're saving up for like a building or whatever.
Make it a c corp.
Because it doesn't make sense to pay taxes on money that you're not actually taking. And so that's why it didn't make sense before because I won't I was pulling money out from the Budgetista before up until this year because their academy wasn't making enough. So now I just pull from the academy and the Budgetista I really have been using to build business. You know, we're saving to buy certain things, and I don't really need the Budgetiza money,
so I've let it sit there. But the government's like, well, whether you let it sit there or not, you're an es corp. That's money earned, whether you take it, whether you withdraw it or not. And so making that transition this was actually the perfect year for it. And what Carlos has done is I can I can file an amendment or something like that so that way I can be tax as anes corpse for the whole year. So it's not like like I'm not going to be penalized
and saying like it's going to start just now. No, the government will look at from January till now you were a C corp. And so, but asking questions and sharing where you are financially, Like I tell Carlos like everything you know, like when it comes to finances, because
and even sometimes we'll just talk conversationally. So with your account, if you have a business, there's certain things that you might mention that he's going to look at and say, from a tax perspective, how can I use that information to lower your tax burden? Like when I got married, when Jirell and I, oh, Superman, well whatever y'all know his name passed you anyway, when Superman and I butt our homes. So these things, you know, Carlos will look at it and say, huh, how do I infuse this
information to lower Tiffany's tax burden? And when I was complaining, you know like yo, I don't have you know, two hundred thousand dollars in my tax savings accounts. That's crazy, and he was like wait then when I was explaining, and then I was just whining. I was like, I don't even.
Take all that money outah nah.
He was like, wait, so you don't take money out and I was like wait no, and he was like, okay, well this is a different conversation, Tiffany. But I never mentioned that before because I didn't know that was relevant, you know, and so like so things like that, like speaking to your countin and making those things relevant, like okay, So, like I was telling, a lot of my friends are like, oh,
how come I'm not at Sea Corporate. I'm like, no, Well, if you have a business, like, for example, the Academy, I get paid, I pull my money out of the academy, so it's going to remain an escorp. So if you're pulling money out of your company, which most people are, then remaining an escorp is it's going to make sense. So for like I said, for me, I'm for these other two companies, we're not pulling the majority of the money out very little as anything. You know, we're basically
the company is basically keeping most of the money. So it doesn't make sense, you know, to remain an escorp. So you have to speak to your account and obviously, but like those types of conversations are really important because I literally was leaving there was like a two hundred and forty thousand dollars tax bill for the last two quarters of the year, and like almost like as I was packing up, that's when I started whining. And then Carlos was like, wait, that's a new situation, Tiffany. Let
me run the numbers again. And he was like, uh, we saved you over one.
Hundred thousand dollars and I was like, oh.
And then I looked at my my tax savings account and I looked at what he said I had to pay for Q three for taxes, and it was the exact same thing for.
The first time freaking ever.
And I was like, yes, I actually have it said no, no more, like cause the literally I was gonna have to go to my CFO and tell her to cut this huge check from one of my companies.
Like like like like.
A seventy thousand dollars check that I wasn't going to get to enjoy and hand it over to the government like that's what that was what I was gonna have to do, you know, in order to make up the difference, Like hey, Rachel, can you put cup me a seventy thousand dollars check I have to give to Uncle Sam.
Can you imagine.
So I'm trying to get on that Kushner tax plan because I've been reading about it's like the super rich. I mean, the tax breaks for the wealthy, if you can figure them out, are so lucrative, especially with the current administration. And I mean there were a lot of tax changes that changed things for small businesses last year too and made it, you know, made the tax burden less for small businesses. And no, it's awesome that you
change that strategy. I feel like my I definitely want to figure out some ways to like, that's my next plan for Helen is just to sit down with me and figure out how to minimize our tax liability because I definitely know that we are not doing like we're not maximizing the tax breaks available to us in the most strategic way. And it's just something that I've been
putting aside because we have the house right now. But I'm like, man, wouldn't it be nice to have more bank money in the bank to pay for this renovation. So that's something I want to look to do for twenty nineteen. And also, like I mean, you've worked with Carlos for how long? You always mention how you guys have grown together.
Yeah, I feel like since since I was since I was teaching preschool, Like I've worked with Carlos since then, so like over ten years.
Yeah, I think I've realized that that the tax preparer just straight up like tax preparer that I got, you know, off yelp, you know, bless his heart, Paul. He's been awesome. I just don't know if he's the right fit for me moving forward. So I got to start shopping for a new I think tax accountant, especially for tax year twenty eighteen, so one more professional to find.
I know, I know, And honestly, it's it's hard because people are like, honestly, I've sent so many people to Carlos. He's like I am forbidden to say anything, like I can only say his first name.
Don't worry d Well.
Because I like, it's because it's hard, it's not necessarily easy to find a good account And I said that, I said, Carlos, do you know any other really good accountants? He's like I do, and I've passed the business I can't do onto them and now they can't handle any more business. I'm like wow, because you know it's really labor intense, like to intensive to like you know, prepare someone's tax, learn their businesses, understand the ins and out, really understand like what's going.
On in their lives, you know.
So he's like, you know, I'm limited in how how many people I can take on. And it's important, like you know, to find someone who you can share your life with, like you have to be able to be like like Carlos knows everything from like when I first started, you know, when I was teaching preschool and what was that like. And he knows when I was making next to nothing and just suggesting along the way and always
tweaking every every quarter, you know. Like I spent about an hour with Carlos, and we don't just talk about money. I talk about like what's going on in life, because Carlos was always extracting stuff like wait, you didn't tell me that Xyz. You didn't tell me that, you know, you have a bonus starter, you didn't tell me, you know.
So those things come up.
And then he integrates those things into yeah, my tax plan.
But even then, like I still am looking for the perfect I.
Mean I I'm hoping Helen is going to work out because I need a financial planner. So me and you are in the same boat looking for some new new blood in the mix. We should have someone hit me up and said that we should have a show about building your money team.
You know, I'm trying to let me do it first, and then I'm a holler at you about that show.
How at you? All Right?
What is the money team?
I get?
What is ideal for you? Yeah? It's hard.
Yeah, it is like who Yeah, I mean, like you know, your accountant, maybe a financial advisor, a financial planner, and like kind of like that kind of stuff. It is hard to find. But one thing that Carlos told me this is just kind of like an aside that made me a little nervous, But I kind of have seen
this too. He was like, he is noticing a trend, and he was like, he feels like some financial dark days are kind of coming, he said, because I'm noticing a trend in that although people are making more, they are less and less able to afford their life. And he said, I'm seeing it more and more in the office that people are struggling more even though they're making more and He's like, you know, it's it's worrying me.
And he's like, are you seeing that? And I said a mix of yes and no, because I feel like, you know, dreamcatchers, like my audience, it's a little different because they're actively working on doing better. But I do kind of have been feeling that feeling too that He's like, people are spending more, things are getting more and more expensive, even though people's incomes are growing, he said, but it's
He's like, honestly, it's making me a little nervous. He was like, I feel like, not necessarily that another recession is coming, but something is coming, he said, because I'm just seeing more and more people come into my office who you know, things are not getting better for them.
Yeah, I mean that's the I mean, he's just hitting on, like the real problem with the economic recovery, it's that it's been And we talked about this when we did.
We talked about the anniversary of the financial crisis, how the economic Yes, the US economy is doing well, even with the volatile days we've had the past couple of weeks, but the but the recovery hasn't been equally distributed, and people at the top are making these really crazy tax breaks, and all the profits for these companies from the booming economy are trickling down to the highest earners, and you know, you have people at the bottom and at the middle
who are maybe earning a little bit more, they're you know, they're their wages are increasing a little bit, but not a not at a rate enough to keep pace with the cost of the biggest expenses that we all encour which are like housing and increasingly education. So yeah, I think that. I mean, it's not like he's just he's like, you know, experiencing it, like it's really happening. I mean, the numbers are out there. People are not a lot
of people. I mean, we get those questions from our listeners all the time that are hard to answer, which is like, hey, I'm saving and I'm budgeting and nothing's changing. What do I do. Yeah, it's such a hard there's
no answer. You know, there's no easy answer for people in that situation, and it's i mean, it's very frustrating, and you know that's part of the I know that that's that disgruntledness, that sense of frustration that people are getting ahead while you're not, but be doing everything right, Yeah, that's that's common.
I feel like, well, this is a good time to switch gears into questions. So why did one of our listeners in love and Shadiness send me the the.
The lyrics, the words you know for.
That independent women?
Yes, how do you go to their like s Tiffany?
Honestly, y just please, I'm.
Not even gonna sick at this time, because you know, in honor of you know that like delightfuly shady. But I forget what her name was, but I thought that was hilarious. It took me a while because I'm reading it because you know, obviously I don't know the lyrics, so I'm reading it like, what is this even me?
Oh?
Oh gotcha girl? She's like for the next time. She's like, I love Brandon mission. So yes, questions, the's gon time?
Go ahead.
Oh yeah, we got some really good questions. It sounds like a lot of you guys are thinking about buying a home, so we got some good questions around home ownership, want about credit card texts?
Like?
Which question too? I go with? First, Let's let's take a question for a listener as Sharon or maybe a Sharon. I'm not sure. There's two hours, she says, question, question, question, you both are new homeowners and took two different routes to get there. Given the choice again, would you guys still decide to purchase a fixer upper or would you buy something move in ready who mid renovation?
Yes, I don't know.
I feel like it's hard to say because where it's I'm in a better place than I was before. If you would have called me, maybe like before we found Justin and we were still struggling, would have been like I should have just gotten a darn house that was done already. But I'm not gonna lie like walking through today and picking out how we want each vathen to be.
It's going to be exactly what we want, and it's going to cost the same as if we would have gotten the house basically like you know, and I will still have a little equity, so maybe a little less, you know, than if we would have gotten the house like fully done. So I kind of, I mean, I'm happy about the renovent because I have a good guy now.
So no, I'm glad we went about it this way.
But if you would have asked me like I said before Justin, I was like, why do we do this to ourselves.
I'm really happy with our decisions so far. I but again, so far we're staying on budget. I just feel like, I mean, we had no choice, like moving ready for us, it would have cost twice as much as what we paid, and my budget just wouldn't allow me to buy move in Ready. So I honestly sure it was the right
choice because it was the only choice for me. And I think, you know, and I feel like if you're if you're trying to find a house that's in your in your price range, you know, a fixer upper, it's it's the way to go because you don't have to do everything all at once. You know, there's still projects that we're planning for two, three, four years down the road. But I definitely didn't want to I definitely didn't want to take on more than we could chew as far
as a mortgage payment went. So I maxed out what I thought was reasonable for us to pay, you know, with one paycheck of the you know, four pay checks a month that we get together, and so we wouldn't be cash strapped. And I'm happy with that and hopefully hopefully, well, you know, talk to me again in five ten years.
Yeah, I mean, like I said, yes, I'm happy with it because I just knowing that also too, I'm sure you're happy like to know like you're getting exactly the house that you want. You know, it's yours and you're you know, crafting it and creating how you want to live. So I'm excited about that because you know, there's no way to know, there's no way to I don't know, there's no way to buy a house that looks exactly how you want on the inside, every tile, this is the floor you want, this is the.
Color you know.
Yeah, so yeah, thanks for the question, Sharon. Another question, here's one about four one k. Interesting. So this this was a long question, but I'm gonna consolidate it. Basically, this is from an anonymous listener who is thinking about buying a home but has had has been worried about getting approof for a mortgage because she has about ten
thousand dollars in credit card debt. You know, it's hard to get approved for a mortgage when you're you know, your debt to income ratio is on the high side. So her question is, would you suggest taking a small loan from your four to one K to pay off that credit card debt and preparation for preparing to purchase a house. Oh, tricky question.
It is a tricky It is a tricky question.
So she's like trying to rush things. I feel like for you know, it's almost like listen to yourself in terms of like your debt is not you're not able to get a mortgage because of your credit card debt, you know, but you want to pay it off quickly. I mean, don't what does it spite your take off your nose to spite your face or.
Yeah, because I think it's yeah, to cut off your nose to spite your face. So honestly, ten thousand dollars it's I don't think it's worth it to take it out of your your form one kid. Because like Manny and I mentioned earlier, there is this wave coming where she, myself, other financial professionals are starting to notice that it is getting harder and harder to keep up with day to
day life, even though people are making more money. And I just would hate for you to start to put your set yourself back when it comes to retirement, you know, because of a choice like this versus like waiting paying off the debt and entering to home ownership on a stronger foot now more than ever. It's really important to make really strong financial choices that are going to set you up for success.
Yeah, and you have to think about I mean, I feel like you're not looking at your other options maybe in terms of I feel like the four oh one K feels like a really easy piggybank to start tapping when you want to pay off something that's annoying, like credit card debt right away, or make a purchase right away.
But there's other things you can do. I mean, if it's credit card debt and you have a decent credit card score, you can think about doing a credit card balance transfer, where you take advantage of a zero percent APR on a credit card and transfer that debt to
a new card and then pay it off. There's personal loan if you may qualify if you have good credit for a decent rate on a personal loan and be able to consolidate your credit card that way, and then you have fixed monthly payments for a fixed period of time and you can just chip away that credit card debt. And then you know you have to I think if you have credit card debt that you're worried about before you buy a house. I mean, just think about all
the other unexpected cost of homeownership. If it's hard for you to cover this seven thousand to ten thousand dollars credit card debt, are you really are you really going to be able to you know, save a few months to six months worth of savings for you know, little things that might pop up as a homeowner that you need to cover, because it doesn't obviously if you're dipping into your four one k, it means you probably don't
have liquid like cash savings. You just don't sound like you're quite ready to take on a mortgage right now. So I would focus on just paying down that debt and not getting caught up in the hype of homeownership and rushing yourself.
Yeah, yeah, I mean, and honestly, home ownership, if not done properly, is it's I mean, ultimately, you have to remember that it's an investment, and so it has to be done with that thought in mind. Even though you know you're you're purchasing a home, it's also an investment.
Absolutely, any more questions, Yeah, let's see, here's a good question from let me hope I'm pronouncing this right, listeners, Sue, Sueye, no, I want to maybe maybe not, so she's like, oh god, sorry, Sue, Okay, Sue says, I was working on gathering my finances and realize I have about seventy five thousand dollars worth of available credit across fifteen credit accounts. These accounts range from small store credit card accounts to regular credit cards, one
with the limit of up to fifteen thousand dollars. Holding all of this credit has made me really nervous, and I was wondering what's the best strategy to reduce the amount of open credit I currently have. What's a decent amount to actually have. I have a lot of debt that I'm trying to pay off, and I'm wondering if closing some of these accounts would work best in my interest. My FICO score is about seven hundred and eighty.
Ooh, well, first of all, Sue, that's a nice little score, right.
I mean, it's almost like she's afraid of the temptation.
Yeah, I was gonna say, that's what it sounded like, right.
But honestly, having a high credit available credit limit can only help your score as long as you don't actually use it because one of the second most important factory of your credit score is your utilization rate, which is how much credit you use versus how much credit is available to you. And as long as you're keeping that rate low, ideally under thirty percent, that will really boost
your score. So it's no wonder to me that you have a high credit score because yes, you know, despite she's oh yeah, she says she owes about five thousand dollars. So five thousand dollars, yeah, five thousand dollars into quick doing.
This, seventy five thousand is what she could borrow. That's tremendous. Don't do that math made it?
That's nothing, No, not real quick. I'm going to determine her utilization rate. So five thousand dollars divided by seventy five thousand dollars, that's only six percent. Okay, that's a very low utilization rate if you start closing your credit card accounts, like let's say you close all your credit card accounts and you only leave yourself with ten thousand dollars of available.
Credit percent, yeah, fifty per utilization rate.
I made that math easy for you, Yeah, you did.
But I'll say this though, I can understand being uneasy. So what I would likely do is look to see what those store cards are. If they're paid off, you might want to close them and maybe keep doing. Ask yourself, if I close this one storecard, what's my new utilization rate? You know, so divide basically what you what you owe into what you could owe and maybe if you want to hover around to fifteen percent, so close store cards
until your utilization rate is about fifteen percent. Then I feel like you'd be in a safe space, you know.
Yeah, I mean, ideally you want it under thirty percent, but fifteen twenties even even.
Better, especially if you're nervous.
But so you might close one or two cards and say, oh, that brought me to ten percent, and then you can close another card and that brought me to fifteen and you're like, I'm just going to stay right here.
Yeah, but leave yourself some you know, some room, and definitely look at I mean, look, I would look at cards too, And if there's an annual fee, you don't mention any cards with annual fees, but consider that. But I mean you have to consider other things as you're closing accounts too, like the age of the credit card account you don't want to go closing your oldest accounts first, so yes, because your age of credit is another factor of your credit score. So it's this whole like delicate balance.
But as long as you're being responsible those cards, you're not incurring annual fees that are costing you money, and you're keeping your credit card balances super low, which it sounds like you are. You're in good shape, you know. Just just keep being responsible with it and don't be nervous about It's almost like she's afraid someone's just gonna, like, I don't know, possess her and go on a shopping spree.
And if you're worried about, like you know, someone's stealing your identity or something like dang, don't you know, then I honestly suggest and have really loved life block like if you're worried about, you know, someone maybe getting a hold of your.
You know what, your credit your credit cards or whatever.
So that's another thing you can invest into and that doesn't cost a whole bunch of money a month. I think I pay like nine bucks a month.
Yeah, it's a good tip, all right, Suwey, thank you for your question, And you guys, if you have questions, hit us up at Bronambition Podcast at gmail dot com dot com, or you can go to brown Ambition Podcast dot com and a click that ask us anything tab. Remember to let me know if you want to stay anonymous or if you don't mind us using your name on the show, say.
It at the very top, because if you say at the bottom, it's like it too late.
Say what that if you want to be anonymous, So don't say hi, my name is Tiffany and then you say you know, oh, you know, and then I'll be at the end. Then Mandy reads, please don't say my name.
Oh well, someone did send me a second email, like just just so you know, I want to be anonymous. Luckily I saw it.
Whoa, y'all, you guys are live a dangerous.
Because I will put y'all's business out there.
Right or at least just give you a fake name from the rip. Just be like, my name is Chico.
I don't know, I don't know why that's my anonymous question name? Shall we end it on a boost a break?
Yes, boots to break boosts the break, boost to break?
What do you want to boost a break?
I'm going to do a boost for my own investor emotional responsibility, which I don't know if you guys noticed, But the market had a really bad week last week, and I got an alert from my investment account saying that I lost two percent, and I really get stressed out. I used to really get stressed out when that little dip in your account happened, you know, you see, like your earnings over the past year. And I saw my little dip, but I stayed the course. I stayed the course.
I might have send Helen a little email and just saying like, hey, just letting you know I'm cool, I'm good, I'm good, and I read I like, I know this, you know the market just the market dipped back in January too, and we talked about it then. But I've learned like not to react emotionally and to just read and get some perspective on why the market's tanking, you know, periodically, and already gets kind of bounced back just a little bit.
So if you guys are stressing about the market, just know it's like, I'm not worried because my my investments are type in my retirement account. I'm retiring from Mandy like thirty or forty years from now and she's gonna be fine. She's got plenty of time. That's why I tell myself, I got to come up with my name, my old lady name, your old dy name.
Oh here right, because many and Wana definitely have to be still doing a podcast.
Like girl, I can't hear you, like, is your head thousan?
You know? Do you know where you can get a cane for half off?
Oh?
Yes?
You have to definitely come up with the old lady name because Wanda can't be out here by people are like why Wanda.
I'm like, it's just such a great old lady name. It's like Gertrude.
That's also a good name.
It is a great old lady name. You can have it if you want.
No good I need to like it has to come to me.
Well, I am actually going to boost as well. This past weekend, I was in Mexico speaking at this retreat called the I Am Woman Retreat, And what I liked about it is is that there's so many things that are geared toward millennial, millennial, millennial.
And I'm not.
Right, but this was such an awesome retreat because the women were in their forties, fifties, sixties, even seventies when I got to do a financial presentation for them, and it was just so nice to see that these women were still working on self development, that they were still like, you know, very curious about how can they do better
financially in their relationships. It was just such an awesome like I don't know, I said, I told myself, next time, I'm going to like pay for my mom and like maybe my aunt to do it with her to go because it was like the first of all, the location it was called Unico, the hotel. It was I've been to a bunch of you know, resorts, and by far, this is the most beautiful resort I've ever seen in my life. There was a jetted pool tub thing on every balcony and it was just amazing. It was beautiful.
The customer support service was just amazing. The food was phenomenal, and usually you know, food sometimes at these like all inclusive resorts are like eh, the.
Pools were, I mean, it just it just was amazing.
The actual location, but like the actual like classes and courses and the daily lessons and stuff that she would take.
They were uplifting, but they were also educational.
It just was a really great time and I just want to give a boost to that because it's just nice to see that, you know, in a world full of millennial centric offerings, it was nice to see that these women someone has not forgotten these women, like someone created this because she was honestly like, we're left out of this conversation, like right now that you know that we.
Want to we want to improve our.
Lives too, So if you're interested. There were some thirty year olds there, but it was like.
A handful interest any right.
But it's called I Am That Woman Retreat, So if you go to I Am That Woman Retreat dot com, you can look at the pictures and learn more and maybe you'll come next year. I don't know if I'll be speaking that year. If they invite me, i'll certainly come. But it was just it was just a really great moment. So if you got your mama, your auntie and you're thinking, like, you know what, they could use a little boost and empowerment. Yeah, I think it's just a great a great retreat to attend.
I mean, life doesn't end in your fifties exactly.
You know, And it was just so great to literally see women in their seventies there, like just living their best life.
Like, baby, tell me that thing again about that budget.
You're like, oh, yes, it was just really honestly it was awesome, And I was like, wow, I felt like honestly that I was in a room full of like my aunts.
You know, I'm legit think I'm going to be one of those old people who like retires in a different country to maximize their income, because like there's all these retirement communities in Mexico and Ecuador and like you know Central American countries where people legit live in their retirement because the US dollar goes so far and it's actually
really smart. We should do we should totally do a show about investing like and or not investing, but like retiring abroad because there's a whole like subculture people doing it. You know, you can get a house out there and like you know, you're a little especially around a fixed income.
And we just talked about how expensive America is getting, Like I feel like that's that's that's definitely going to be the trend for like if we keep going the way we're going as people looking outside the US to retire.
I agree, I agree the beach that sounds nice.
Yeah, it was Honestly, I was like, wait, this is everything, this is a little bit of everything. So yeah, so that's my bost that's our show. Now it's time to say goodbye to all our company. Remember the time you didn't know what that was? And I was like, are you kidding me?
I knew the Nicky the Mickey Mouse Club, You didn't. I knew that.
I don't know between that and Golden Girls, I was like, Mandy, I don't even know if I know you.
Oh gosh, talk to me when you watch ninety Day Fiance, Okay, then we can talk.
No.
First of all, I have not watched, but I have seen the clips of my Nigerian brethren.
Okay yo.
That is I don't even know what to say. I'm like both intrigued, ashamed and delighted.
Like it is. It is so terrible.
They're not doing the Nigerian equal any favors, but it is highly entertaining.
Yeah, oh my gosh, I'm like, oh my gosh, why why? But at the same time, I'm like, well, you know, all right. On that note, I have.
A fabulous week and don't miss next week's show. We are doing Da Da Da crossover episode with our counterpart. It's at paychecks and balances.
Yes, And I was just a guest on this show. I was like, look at that. We're gonna be back.
We were doing Battle of the Sexes. We are taking on some of the biggest debates between men and women when it comes to their finances, and we are going to battle. You guys. It's me and Tiff against rich and Marcus.
And you know who's gonna win.
Us. We'll just talk them to death like women do.
Don't give up.