How Every Human Can Be a Small Business with @YourRichBFF
Summary
TLDRDans cette conversation passionnante, Vivian 2, alias Rich BFF, partage son parcours professionnel passé par JP Morgan, son transition vers BuzzFeed, puis son succès en tant que créatrice de contenu sur les questions financières. Elle discute de sa stratégie de contenu, de ses revenus et de son livre, qui offre un guide complet pour la gestion de l'argent et l'investissement, abordant également l'émotion dans la gestion financière. Vivian encourage les gens à prendre le contrôle de leur avenir financier et à trouver l'équilibre entre plaisir immédiat et prudence future.
Takeaways
- 💼 Vivian 2 a commencé sa carrière en travaillant pour JP Morgan dans le domaine des valeurs mobilières.
- 🚀 Elle a décidé de quitter l'industrie financière pour chercher plus de flexibilité et de revenus, ce qui l'a amenée à travailler chez BuzzFeed.
- 📈 Vivian a créé du contenu sur les finances personnelles pour répondre aux questions de ses collègues, ce qui a finalement conduit à la création de sa marque Rich BFF.
- 🤝 Elle a partagé des conseils financiers sur les réseaux sociaux, ce qui a attiré l'attention de nombreux jeunes professionnels.
- 💡 Vivian a souligné l'importance de la transparence et de l'honnêteté dans la gestion de l'argent et la communication avec les autres.
- 📊 Elle a exprimé son opinion que les jeunes générations sont plus ouvertes et honnêtes, mais doivent également apprendre à gérer leur argent de manière responsable.
- 🧠 Vivian a insisté sur l'importance de l'éducation financière pour tous, qu'il s'agisse de gestion de l'argent, d'investissement ou de planification pour l'avenir.
- 📖 Son livre 'Rich AF' est présenté comme un guide complet pour les personnes qui cherchent à mieux comprendre et gérer leur argent.
- 🌐 Vivian encourage les gens à partager leurs objectifs financiers avec leurs amis, en utilisant ceux-ci comme support pour éviter les dépenses inutiles.
- 💰 Elle a noté que les petites dépenses peuvent rapidement s'accumuler et avoir un impact négatif sur la situation financière d'un individu.
- 🔄 Vivian a souligné que la transparence financière peut aider à réduire la pression de 'garder le rythme' et à mieux gérer son budget.
- 🎯 Elle a recommandé aux gens de ne pas hésiter à négocier pour des augmentations de salaire ou des réductions de prix sur de gros achats.
Q & A
Quel était le poste de Vivian au BuzzFeed ?
-Vivian travaillait dans l'équipe de stratégie des ventes de médias digitaux à BuzzFeed, en couvrant principalement les clients du secteur de l'entertainment et des voyages.
Combien gagnait-elle annuellement au BuzzFeed ?
-Vivian gagnait environ 600 000 dollars par an en tant que membre des ventes et l'un des meilleurs performeurs de l'entreprise.
Pourquoi Vivian a-t-elle décidé de quitter son poste au JPMorgan ?
-Vivian a souhaité quitter l'industrie financière pour avoir plus de flexibilité, gagner plus d'argent et porter des vêtements plus informels comme les jeans déchirés au travail.
Quelles étaient les motivations de Vivian pour créer du contenu sur les finances personnelles ?
-Vivian a été motivée par le fait de répondre à une multitude de questions sur les finances personnelles de ses nouveaux amis et collègues, et elle a décidé de publier des vidéos pour les aider à comprendre les bases financières.
Comment Vivian a-t-elle réagi lorsque son premier vidéo a attiré beaucoup d'attention ?
-Vivian a été surprise et excitée lorsque son premier vidéo a rapidement atteint un million de vues et 100 000 abonnés en une semaine. Elle a consulté sa petite amie, une influenceuse culinaire, pour savoir comment gérer cette situation inattendue.
Quels conseils donnerait Vivian à ceux qui cherchent à améliorer leur situation financière ?
-Vivian conseille de lire son livre pour acquérir les bases de la gestion financière, d'investir dans une variété d'actifs et de comprendre comment l'émotion peut influencer les décisions financières.
Quelle est la principale thèse du livre de Vivian ?
-Le livre de Vivian vise à fournir un guide complet et accessible sur la gestion des finances personnelles, de la budgétisation à l'investissement, en abordant également les aspects émotionnels de la gestion de l'argent.
Comment Vivian a-t-elle financé son transition vers son activité en tant que Rich BFF ?
-Vivian a mis de côté 100 000 dollars de son salaire au BuzzFeed pour servir de parachute financier pendant sa transition vers son activité en tant que Rich BFF.
Quels sont les principaux revenus de l'entreprise Rich BFF ?
-Les principaux revenus de l'entreprise Rich BFF proviennent des partenariats avec des marques, des avances sur livres, des revenus publicitaires来自于播客 et des conférences.
Quelle est la prévision de revenus pour l'entreprise Rich BFF de l'année dernière ?
-Le prévision de revenus pour l'entreprise Rich BFF de l'année dernière était d'environ 4 millions de dollars.
Quelles sont les principales leçons à tirer du livre de Vivian ?
-Le livre de Vivian enseigne aux lecteurs comment gérer leur argent de manière efficace, comment investir pour maximiser leurs revenus sans travailler plus dur et comment l'émotion peut influencer leurs décisions financières.
Outlines
💼 Career Journey and Decisions
The speaker discusses their career trajectory, starting with a high-paying sales position at BuzzFeed and transitioning to a role focused on financial literacy and personal branding. They delve into the reasons behind their move, including the desire for flexibility and the opportunity to wear ripped jeans to work. The conversation touches on the challenges faced in the corporate world, such as dealing with a new manager who made derogatory comments, and the decision to leave a secure job for the uncertainty of entrepreneurship. The speaker also shares their experience of being asked financial advice by colleagues, which led to the creation of online content to address these queries.
🚀 The Beginning of Rich BFF
The speaker narrates the inception of their Rich BFF persona and the initial skepticism about its potential for success. They explain how they started creating content as a side project, hoping it might gain traction and open new doors. The speaker emphasizes the importance of having a knowledge or passion base for content creation and the potential for such content to go viral. They share their surprise at the rapid growth of their online following and the strategic approach to content creation, which involves listening to audience feedback and iterating on successful content themes.
🤔 Balancing Full-Time Work and Passion Project
In this section, the speaker describes the challenges of managing a full-time job at BuzzFeed while simultaneously growing their personal brand, Rich BFF. They discuss the internal dialogue and the strategic approach to balancing these commitments, including seeking approval from the company's legal and compliance teams. The speaker also talks about the cultural support for entrepreneurship within BuzzFeed and the initial reaction of the company to their growing online presence.
💡 The Turning Point and Financial Freedom
The speaker shares the pivotal moment when they decided to leave their job at BuzzFeed to focus on their personal brand full-time. They discuss the financial implications of this decision, including the salary they were leaving behind and the potential earnings from their online venture. The speaker also reflects on the importance of having a financial safety net and the realization that they could succeed without the stability of a traditional job. They highlight the success of their first year, which far exceeded their expectations, and the various revenue streams that contributed to this success.
📚 Book Discussion and Financial Literacy
The speaker talks about their book, its purpose, and its relevance to the general public. They explain that the book is designed to be a comprehensive guide to personal finance, covering topics from budgeting and saving to investing and financial planning. The speaker emphasizes the book's accessibility, its ability to empower readers, and its potential to serve as a resource for those looking to improve their financial literacy. They also discuss the importance of understanding the emotional aspects of money and how it influences consumer behavior.
🔮 Predictions and Financial Trends
The speaker shares their thoughts on current financial trends, particularly the concept of 'loud budgeting,' where individuals openly discuss their financial goals and challenges. They predict that this trend will become more mainstream, leading to greater transparency and less pressure to keep up with societal expectations of wealth. The speaker also touches on the importance of negotiating for better salaries and making smart decisions on big-ticket items, as these can have a significant impact on one's financial health.
Mindmap
Keywords
💡Rich BFF
💡Compétences financières
💡Sécurité financière
💡Investissement
💡Transition de carrière
💡Sélection d'emploi
💡Création de contenu
💡Séjour à BuzzFeed
💡Podcast
💡Gestion de l'attention
💡Séjour à JP Morgan
Highlights
Vivian's career began in trading equities at JP Morgan, showcasing her early involvement in the financial sector.
Leaving the finance industry for more flexibility and a desire to wear ripped jeans to work reflects Vivian's pursuit of a balanced and authentic lifestyle.
Vivian's transition to BuzzFeed's digital media strategy sales team demonstrates her adaptability and ability to pivot within the digital landscape.
The creation of Rich BFF content originated from frequent financial questions from colleagues, highlighting the widespread need for financial literacy.
Vivian's decision to post financial education content online was a strategic move to address her friends' queries and potentially open new opportunities.
Her initial skepticism about the viral potential of her content shows a grounded approach to her online presence and success.
The support and advice from her micro-influencer girlfriend underline the importance of a strong network in navigating new paths.
Vivian's content strategy development and refinement based on audience engagement illustrates her data-driven and iterative approach to content creation.
Her discussion with her fiance about work-life balance and job satisfaction led to the pivotal decision to focus on Rich BFF full-time.
Vivian's financial success at BuzzFeed and her transition to entrepreneurship show her ability to excel in both corporate and independent工作环境s.
The various revenue streams for Rich BFF, including brand partnerships, book advances, and speaking engagements, demonstrate the diversification of income for modern creators.
Vivian's book serves as a comprehensive guide to personal finance, appealing to those with little to no prior knowledge of financial management.
The book's structure, divided into managing money and letting money work for you, provides a logical progression for readers to understand and apply financial concepts.
Vivian addresses the emotional aspect of money, acknowledging the psychological factors that influence financial decisions and behaviors.
The concept of 'loud budgeting' reflects a growing trend of financial transparency and social accountability that may reshape how we discuss and manage money.
Vivian's success story serves as an inspiration for others, showing that it is possible to build a personal brand and achieve financial literacy through education and hard work.
Transcripts
at BuzzFeed I was making a lot of money
like upwards of $600,000 right cuz you
were in sales I was in sales and I was
one of the top players so makes sense I
was making a ton of money and I was like
well you know am I ever going to be able
to make that much money doing your Rich
BFF stuff like is that even a reality
for me do you have the logical combo of
like I need to scratch this itch and
even if Rich you know BFF fails I'll be
able to go get another job because of
who I am at some point in Gary you're
out here stealing my thunder oh I'm
sorry I'm sorry yeah no attention is is
the number one asset fer Nation how are
you this is exciting as all of you know
I've really converted my podcast into
podcast with friends where we usually
have three guests but I kind of like to
break my own rules and even though I
said I wasn't going to do a lot of these
I thought it'd be fun to do a one-on-one
on this because this book has caught a
lot of people's attention I think the
subject of financial literacy really
really really matters um and I think
Vivian's done a really good job in
capturing the essence of what I think is
going on in the modern landscape of of
information and personal brand and
things of that nature and so it's really
nice to have you here thank you so much
for having me of course why don't you
tell everybody let's do a little 34
minutes where I'll give you the mic
where you can tell everybody who you are
and a little bit about your story yeah
absolutely um hi everybody I'm Vivian 2
AKA your Rich BFF and your favorite Wall
Street girly uh I actually started my
career trading equities uh stocks at JP
Morgan uh did that for about 2 and a
half years ended up leaving the industry
I wanted to wear ripped jeans to work
and make more money and have more
flexibility so what does a young person
do you go into media you go into Tech uh
went to BuzzFeed and worked on the
digital media strategy sales team for a
minute there covering entertainment and
travel clients uh and while I was there
all of my new friends and colleagues
were like okay you came from Wall Street
are our company stock options worth
anything which health insurance plan did
you pick can you help me rebalance my
401k and I got so many of those same
questions I was like you guys you're
annoying me during the day let me put
put this on the internet you can watch
the videos so got it so yeah you grow up
did you think you were going to go to
Wall Street as a kid um you know I my
parents are Chinese immigrants so I kind
of had the doctor lawyer engineer
options and then financier became the
bonus fourth option I went to us Chicago
so a lot of people do end up on Wall
Street I just wanted a job where I
wasn't going to have to ask them for
money ever again I was going to be able
to do what I wanted to do and the idea
of having a penthouse apartment in New
York City certainly didn't hurt
got it so it was it right so in that
immigrant structure that a lot of us
know then two which I love hearing from
you you wanted to be off the payroll so
they had no say yeah CU you know which I
love because I think it's the biggest
issue that yes the hypocrisy of kids
being mad at their parents when they're
on the payroll blows my mind you can't
if they pay they have say and it's why I
told my parents they could not
contribute to my wedding love because I
was like you can't tell me which band to
pick you can't tell me what appetizers
it's a very real thing it's the best
decision I made too when I was a kid and
way too many people are such [ __ ]
Hypocrites they literally complain about
their parents are involved and they
medal and the only reason your parents
have any leverage besides you love them
and you want to like is the payroll is
the payroll get off the [ __ ] payroll
so got it you went to this grade school
you were obviously a good student you
knew you wanted to be off the payroll
and you wanted to live have Independence
and you're like cool Finance also if I
Crush
it can get
real let me consider that you get into a
couple years and you just realized there
was other things you wanted to scratch
not so much that but you know I think a
lot of us joined did you like it I did
at the beginning I had a really great
mentor a really great manager you know
as Wall Street shakeups do happen you
know the head of my desk ended up
getting let go brought in a completely
new guy fired half the team so suddenly
the team looks very different then I end
up getting assigned to a new manager who
it didn't click it didn't click but also
he made some real nasty comments they
like you're too girly to be here and
didn't like how my nails click clacked
on the keyboard didn't like oh so like
really went old school that way very old
school and like and you're like [ __ ]
this [ __ ] yeah like I shouldn't have to
put up with that like I know how smart I
am I know what I can bring to the table
and like that's the bare minimum right
like you shouldn't say [ __ ] like that to
me work right so [ __ ] you I have options
you decided the jeans let me see what
the BuzzFeed selling this that when you
get there a bunch of kids and because
you were in an environment that did have
financial literacy now you got a real
look at the broader world and you're
like [ __ ] no one knows [ __ ] nobody knows
anything right and and obviously tongue
and cheek this is annoying I'm getting
asked a lot let me make some videos for
y'all you also because you're at
BuzzFeed and because you're a human in
society at this point you knew that and
maybe some of this content will click
and it may open up other opportunities
and doors not even I really made this as
like a hey this is going to be like a
fun little passion project my friends
are going to watch but you are smart
enough to know yeah I would I that makes
sense I think a lot of people are making
content of like fantasy sports and like
I that I can buy but I can't buy back to
your point of like [ __ ] you I have
options don't make fun of my clicking
that you had to know and some of these
May click and it may lead for things for
me to think about I think it had to be
in the back of your head you delusional
yes a tiny piece of my mind was like
maybe content goes amazingly viral and
this can become something but I
certainly wasn't there's a point Bing on
this that I respect but I think it's the
biggest point I want to make to the
audience watching live on Twitch by the
way podcast if you want to watch these
things live twitch.tv
garyvee but like I what the point I'm
making is I I believe it is let me use
an interesting term I believe that it is
grossly negligent as a human in society
today to not post videos around your
singular either knowledge base yeah or
passion base yeah I think it makes
borderline no sense I'm aware of
insecurity and worried about what people
look like worried about negative
comments mental health like if you get
ne most people don't have enough
self-esteem to deal with the no views or
I I know why people don't do it yeah but
I believe it's insane there's just so
much correct and this Windows real and
like the fact that like I I also think
that people like things people like Star
Trek people like the Avengers people
like wine people like bourbon people
like cooking people like the other thing
there are influencers that are truly
influencing and their brand is thems
which I think is so incredibly
challenging these are people like the
Alex Earls the tines of the world but
for all the rest of us I don't have to
put every single personal detail about
myself out there to your point knowledge
based or passion Bas it's such an easy
way to get into this world that so many
people what is it the the stat is like
students or children like 15 to 18 right
now like 50% of them want to be
YouTubers more more this is how you get
in as a matter of fact I think the
people that are living their lives like
reality TV will continue to decline
because that is the hardest game correct
once you give the world your life you
don't have one and it gets picked apart
I am wildly out there for the last 2007
17 years for the last 17 years I have
posted on the internet every day yeah I
am out there I have plenty of followers
I don't post anything about my personal
life
yeah so I think a lot of people think
you have to go there yeah I've never
posted my children in my life people
don't realize you're in full control
yeah anyway the reason I wanted to rant
on that is I just love that you had a
knowledge base yep you did some stuff
and here you are with like an iconic
book like you have options now whether
you want to like I just like optionality
yeah agreed it's Freedom it's Choice the
same reason why you want to have money
the same reason why you want to have how
fast did the first V when was the first
so you started posting where yes Tik Tok
Instagram YouTube Tik Tok first video
January 1st 2021 first seven hours I
think the video got seven views then
that night I'm watching a movie with my
now fiance and my phone starts to get
like hot you know like when your phone
starts to overheat my phone's always hot
right exactly um phone starts buzzing
off the hook like I'm like what's going
on I'm like that's weird I have 7,000
followers that's way more followers than
I have on my personal Instagram and like
I'm like I don't even know if I know
that many people so Real Talk cuz which
is that's insane real talk you're one of
those people I talked about six seven
years ago for Tik Tok that literally
actually first video Hit first video
went viral and by the way for everyone
who's watching and listening that game
is not as real now no it's not it's
always supply and demand of attention
like I've talked about this is why oh by
the way let's do a plug day trading
attention coming out this summer this is
the one but this is the game you were
back to your background you were day
trading attention correct so literally
the first one hit first one 3 million
views 100,000 followers by the end of
the week were you like what the [ __ ]
yeah but you knew that was a in play but
you didn't think it would be the first
one I really don't know how Inplay I
thought it was going to be I thought if
anything like I would do it for a couple
months and slowly build an audience like
a normal person but then so what happens
like tell me what happens the morning
you wake up on Tuesday or whatever the
[ __ ] it was I'm just like oh shoot so I
call such a real life example like a
reaction I call my girlfriend who was
the biggest influencer I knew at the
time and I say that in quotes she is a
you know 10,000 person following food
blog on Instagram she's a micro
influencer by way which is huge for the
normal world we live in so you called
her and said what do I do I'm like I I'm
like girly like what do I do now and
she's like
you have to keep making content I'm like
about what and she's like I don't know
you got to figure it out like read the
comments what do people want you to talk
about like all that use it as a
renewable resource every video begets
more questions begets more content and
so I call that pcsing at bayner media
post creative strategy yes read all the
comments decide what to make next y
exactly and so I start making videos
about all of these topics and I start to
actually develop a Content strategy in
that like there are certain pieces of
content that hit and then there are
certain pieces of content that didn't
and the stuff that didn't I let it go
and the stuff that did I made more of it
right I made more of it that's right and
then are are you in a place where you
one thing I would say when I hear that
CU intuitively you did everything right
and even now today this is like advice
for today take it or leave it always
give yourself a little room to do a wild
yeah you have to yeah you have to
because that's where people are getting
hurt once they hit a certain level
because part of your content needs to
serve your existing audience and then
the other part needs to find you a new
audience correct and so I was always
doing some weird [ __ ] and the rest of it
I was like oh hack videos so what
happens next so you do that so you start
building start building you're working
at BuzzFeed I'm working at BuzzFeed
fulltime and I work there for a year and
three months full-time while sort of
building up your Rich BFF I'm doing some
are they aware that something's Brewing
they're like do you want to team up or
do some stuff here I actually cleared it
with the legal team and compliance team
cuz I I was an employee there a
professional yeah by the way notice how
like a young professional knew what to
do that's what the JP Morgan stuff does
for you all these kids are like
literally some kid that we found out had
three jobs at Vayner media cuz that you
know that's what happened during Co when
I like spoke to him he's like what I'm
like what do you mean what you work here
like and I wasn't even mad about that as
a matter of fact I almost like wanted to
like start a company with him because I
was very impressed I'm like there's
liability yeah I'm like you're doing the
same work you're working on a client we
signed contracts saying you work on this
you can't work for seie Johnson yeah
yeah na yeah but I have the I'm not
trying to get sued mentality yes and I
think when it first popped off they were
like oh donside witch oh she's Rich be
FF I follow her let's go um and so I
actually go back and I'm like oh is this
okay they're looking at me like I am
small potato so they're like no worries
go for it girlfriend I'm like okay cool
and then it start and a little more
credit for buzzfeed's DNA cuz I've known
them a long time yes comma they also are
a culture of that stuff and in the back
of their mind are like well if it gets
big maybe we'll have a different
conversation in six months exactly if
we're being fair yeah so I started
taking a couple deals um I'm building it
a year and three months in I'm like I
[ __ ] hate this I hate working at
BuzzFeed I hate doing your BFF I hate I
hate everything oh you're about to move
and so then I had a conversation with my
fiance and he's like do you think that
you don't hate everything you just hate
the fact that you're working 5 days a
week at a normal job spending all of
Saturday ID eting content and spending
all the Sunday fil filming it you
haven't taken a break in a year now like
maybe you want to go on vacation good
for him and we had a pretty candid
conversation and I was like listen like
at BuzzFeed I was making a lot of money
like upwards of $600,000 right cuz you
were in sales I was in sales and I was
one of the top players so I was making a
ton of money and I was like you know am
I ever going to be able to make that
much money doing your Rich BFF stuff
like is that even a reality for me do
you have the logical combo of like I
need to scratch this itch and even if
Rich you know BFF fails I'll be able to
go get another job because of who I am
at some point in Gary you're out here
stealing my thunder oh I'm sorry I'm
sorry yeah no so basically we had this
conversation and my thought was like
listen like I've done a good job my boss
loves me the company loves me they would
hire me again and so would oh by the way
and so would you know all of these other
competitors all these platforms I get 15
minutes of fame I get this flash in the
pan moment of do I take this or not and
I'm sorry to interrupt I know everybody
gets mad when I do but I can't help it
because I want people to get inspired I
believe this Flash in a pan in 15
minutes of fame you can extend it not
only that yes and I love you for jumping
in I don't think it's what we all grew
up with I'm going to say it again I
think it's practical now not an anomaly
I think you're the preview not the
Enigma M this has been my biggest thesis
for 15 years and now it's really playing
out yeah to me your story is the norm I
believe the long tale of influence
personal brand proper I believe every
human is about to be the small business
yes just like there's 8 trillion small
businesses not everyone becomes [ __ ]
Verizon and and BMW but there's a
drillion small businesses I believe the
small business ification of personal
brand the micro influence aners it's
real as [ __ ] and personal branding is so
so this is why when someone who's so
inspiring in doing it says I've Got The
Flash in a pan I got this 15 minutes I
like to jump in because I need these
people listening especially the million
that will listen to this podcast over
the next 12 months to understand this is
not a miracle this is not far-fetched
this is the internet is at a scale now
yeah distribution of information is in a
place with social algorithms are you
could have never done what you did if
Tik Tok wasn't around I was there when
Facebook and Twitter and YouTube was the
case you had to build a list and then
people would see it did take four years
yeah now one post because of the way
yeah because of that explore page go
ahead so so um I end up quitting my job
I Bank $100,000 in cash and I'm like
that's my that's my parachute money yep
um didn't need it I end up crushing it
and you know last year I think the
reported number
what we actually collected was probably
close to like 4 million in terms of
revenue for the company um what are the
revenue streams so obviously we got just
the platform's paying us little to
nothing right brand Partnerships is a
huge chunk book advance I got a pretty
healthy Advance makes sense podcast ads
great sense um I do quite a bit of
speaking love and then right now in the
works we're working on some TV stuff
good for you yeah on the speaking part
without just cuz I'm always business
developing you should definitely talk to
Vayner speakers you may be thrilled with
who you're talking to but we're really
crushing I love that uh what's the book
about and why should everybody who's
listening buy it because I genuinely
obviously we have some mutual friends um
but I can't comprehend anyone listening
to the last 20 minutes not realizing
that you are wildly sharp as [ __ ] and
super capable so I'm going to assume cuz
I continue to it's scary to me what I
put in day trading attention for like 20
bucks like literally companies pay me
$500,000 for an hour of what I put in
this book for 20 bucks I continue to
believe now that books are like the
weirdest best deal in the world yes
because people like ourselves don't want
to write a shitty book cuz it's Pride
yes and then thus rendering the content
very valuable yeah and the cost is
nothing correct so my intuition is that
every person that listens to this
podcast ever should buy it based on you
so I guess that's how I buy books even
though I don't buy books that's how I
would buy books because I don't read
them but that's how I would process if I
was a
reader above and beyond that you're epic
what one or three things are going on in
the book that you think for the general
public which as you know one of the
reasons you blew up is people don't know
[ __ ] about finances in America and the
world what are the one to three things
in there that you think stand out of why
it's hitting well I think why it's
hitting is you talk about you know you
charging these businesses you know know
all of those people on the internet who
are charging thousands of dollars for
personal finance courses or investing
courses again this is a New York Times
bestselling book that is now sold 70,000
copies you can get this for free at your
library and get it for like 20 bucks on
Amazon this book is the blueprint 101 to
personal finance not as a matter of fact
uh you can also get it right now on
Twitch there's 140 people here the first
25 people that email
Dustin sorry Dustin I'm making you work
what is it Dustin Dustin Dole yeah
Dustin Dole Vayner media.com the first
25 he's going to delete 20 because he's
busy so I just want to be fair with the
couple hundred people that are watching
live right now he's going to delete 26
on he may archive it put in a folder to
talk to you in the future when he's
bored but the first 25 people that email
him right now their
address I'm going to send a copy to of
this this book sick Easter eggs on the
this is you know this is getting
everyone listening to podcast to start
realizing they need to tune in every day
and hang out with me on
twitch.tv okay um go ahead yes but
basically the book is a personal finance
101 if you know nothing about managing
your money if you know nothing about
being smart with your finances you can
read this book read it from page one to
the very last page walk away feeling
confident capable and ready to take on
your financial Journey it's broken into
two halves first half is I work hard for
my money so we cover a big explanation
of the current state of macro and
microeconomic Affairs in languages that
you'll understand and then I break down
how to ask for more money at work and
why you should be asking how to budget
better without giving up everything that
you love and then we move on to the
really exciting part of the book which
is my money works hard for me and this
is the how do I save better how do I
save more effectively again without
giving up everything I love how do I
make sure that I have money for future
me
and then I love the title that I chose
for chapter 5 which is the investing
chapter I wasn't born rich but my kids
will be because investing is truly going
to unlock the ability for every single
person to be a two income household yep
and it lets you truly maximize
everything that you already have coming
in the door without working harder
without spending too much more time and
I walk through every single asset class
how to pick a brokerage how to pick an
account how to pick Investments how to
be mindful of all of what you're doing
and I even give you a cheat if you don't
want to do any of that [ __ ] and you want
to take 45 minutes and take a quick quiz
I break down how to do it for you good
for you and then last chapter Financial
domination all the stuff that doesn't
fit neatly into a box we talk about
taxes we talk about credit scores we
talk about paying down debt and a really
important thing that I think a lot of
books miss out on is how does emotion
play into money let's actually talk
about that because that's the part that
I'm most interested
in
people buy [ __ ] to fill gaps yeah do you
do you touch on that a little bit like
why they buy a designer bag when they
can't afford it but they need it to
Peacock they get the quick endorphin hit
and then they need it to like signal to
the world like no I'm not a loser I have
a Chanel bag like do you go there a
little bit Yeah I do and I'm not you
know like I it's a book in itself but
I'm curious on how much if any you touch
on it because everyone's going to say I
can't save I can't invest I'm like you
sure can like don't buy the new iPhone
every time it comes out yeah um there is
actually a phenomenon um coined by Este
louder uh the Lim lipstick index in that
during times of financial downturn you
actually see the purchases and the
revenue for companies that sell little
treats right during the Great
Depression exploded exactly little hits
little treat little treat not private
planes but just makeup that was the
luxury and when you can't afford the
flat screen TV much less the car much
less the home a little hit will give you
the dopamine that you need aare but it
prevents you from getting to these
bigger goals when you are really in debt
and you are buying a $19 cocktail yeah
at happy hour there's that you've got to
figure that [ __ ] out that constant Uber
seamless Starbucks it [ __ ] adds up
and our society currently has decided
that that's a necessity not a luxury yep
but I also address the flip side of that
conversation I heard you I heard you
which I love the little stuff matters it
does add up it's death by a th paper
cuts if you get a coffee every single
day and you get the Uber every day
whatever but there's also a school of
thought that
says make sure when you take the big
swings you are negotiating your ass off
off because if you can get $50,000 off
of the purchase price of your home it's
$50,000 that's 50 Grand you know how
much if you can get $7,000 more in your
salary it's $3500 more well actually my
tax racket much more than that for the
normal person it's so much easier to
make more money or save big bucks when
you're buying the big ticket items
versus trying to nickel and dime
yourself because I do think you're
allowed to have a little treat but your
point if you have too many little treats
too many days a week it really can hold
you back everybody Dustin will email
confirmation to the people that won I
don't want to speak for him I don't know
if he can confirm to everyone who lost
so just assume you will get an email
within 24 hours you got a lot to do if
there's hundreds there I don't want to
like you you'll decide yeah if you
didn't get a reply you didn't win I
check emails very well so um we got a
couple minutes left give me uh what is
it February 7 6 7th give me a February
7th 2024 hot take on anything Financial
that's got your attention oo and I I'm
not looking for you to predict something
because that I think is silly yeah I'm
talking more
like anything that's on your mind in the
game of like last year's uh there's a
presidential election and Biden may not
win and if Trump wins this tax thing
will change and so keep your if you've
been thinking about something this year
that or have you paid attention to this
or here's the reason that or is there
that you as a thinker of finances are
like hot on or that's kind of clever out
there right now yeah you guys want a
time travel always you can still
contribute to that Roth IRA and to your
retirement accounts for last year before
the tax date love and that way you still
can have it basically essentially count
for last year right and a lot of people
think that when 1231 hits EXC EXC me you
can contribute to your IRA so that you
can actually get a taxable benefit from
for last year's taxes versus this year
having be 2024 um so you can time travel
and I think that's really good yeah
because for a lot of people they don't
know how they're going to splurge
especially if they're working tight they
don't know what the holidays are going
to look like but now on February 7th you
got a little bit of a feel like you're
into the year a little bit you know of
your job stability or you you never know
but like of course you know things like
that go ahead can I make a prediction
that I can guarantee you comes true so
you have a prediction that you're very
hot on no 100 I certain great well good
news when it happens we'll clip this and
if it doesn't happen we'll definitely
CLI this this right I will say you
you're going to be like oh well that's
like a soft prediction but like it's
true that's okay so there's a current
Trend going on called Loud budgeting and
I think that it is here to stay and
it'll actually become a very pervasive
thing in our communities so for people
who aren't chronically online loud
budgeting is is essentially where uh it
is now socially acceptable for you to
talk about your financial goals with
your friends and use them as an excuse
to get out of social obligations out of
things that are going to cost money um
so suddenly transparency yes and
vulnerability yes will lead to less
discomfort in the long term maybe a
little bit on The Upfront correct which
will allow you to not have to keep up
with the Joneses and have the stigma
which will allow you to budget better
exactly and I do think that
with the Next Generation we're just more
honest 100% like in some ways we're not
embarrassed in some ways we're
remarkably more honest which is why I
love j z and Jen Alpha in other ways our
we're CLE we're more clever we're very
we I'm I feel like I'm so proud of I'm
an old [ __ ] but dude compared to
these kids but I love these kids but
they're a little more clever they're all
so good at PR yes that they're
outflanking some of their Boomer parents
and gen xers
but the reality is I see them their
their the hypocrisy is extraordinary but
you're right there's a lot of things
they're more vulnerable and transparent
about but they're
also the the lack of accountability and
entitlement is a blind spot and then
we're talking General yes um but I agree
with you they're incredibly they're
creating some incredible uh Frameworks
that are going to work for them and I'm
excited about that I root for them heavy
especially gen Alpha cuz I love their
cynicism towards gen Z these 10y olds
are gangsters they they're also like I
every generation scares me just a little
bit more but like in a good way I agree
um I'm proud of you uh obviously the
book's available everywhere yep Rich AF
Rich AF you can find it wherever books
are sold please buy a copy if you want a
copy
congratulations and and more importantly
real talk there this just hit me as you
were just talking I actually think this
is the book you buy for someone too yes
there's certain books that I've always
thought were like good to buy buy two
copies of um this is [ __ ] important
and what I and I think Vivian's
important and I'll tell you why Jim
Kramer is good for some people your
financial adviser that's your grandpa
and your dad's financial advisor Barry
who's 83 years old good for some people
I do think representation different
looks like I came along and had D's and
Fs and didn't go to University of
Chicago or pen or Harvard and I mattered
for a lot of entrepreneurs at a time
where this thing that's now accepted was
really weird I used to get yelled at for
not wearing a suit yeah and made fun of
and and booed and hissed for cursing I
think different people come along and I
think when you see yourself in someone
you know I I there's been many women who
over the last 30 40 years from Susie
Orman on TV to like many many women that
talk about Finance but every individual
person's their own little thing and I
I'm excited our own small business right
and yeah and and to your point what
excites me is I know that you're going
to be cool and interesting to a bunch of
men and women yeah that were always
intimidated or not interested or like
[ __ ] finances and finances like Health
are just not good things to not care
about right like real talk today you has
to take care of future you otherwise by
the time things are so dark and today
you like a lot of people who do buy a
Chanel bag or a uber every day or a
coffee every day do know they're [ __ ]
up to your point have permission to have
nice Treats but within moderation find
the middle yeah thanks for being on
thank you so much for having me
cheers
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