1
00:00:02,000 --> 00:00:07,000
Downloaded from
YTS.MX
2
00:00:08,000 --> 00:00:13,000
Official YIFY movies site:
YTS.MX
3
00:00:12,345 --> 00:00:14,347
[soothing music plays]
4
00:00:22,731 --> 00:00:27,110
[audience applauding]
5
00:00:33,616 --> 00:00:35,326
[Paula] My name is Paula Pant,
6
00:00:35,410 --> 00:00:38,121
and I'm the founder of AffordAnything.com.
7
00:00:38,705 --> 00:00:40,582
We are here to help people
8
00:00:40,665 --> 00:00:44,753
save, earn more, invest, retire.
9
00:00:44,836 --> 00:00:49,883
The way that we manage our money
influences every aspect of our lives,
10
00:00:49,966 --> 00:00:53,678
and yet no one ever
formally teaches it to us.
11
00:00:54,387 --> 00:00:57,891
Because of that, people are missing out
on opportunities to make money.
12
00:00:59,642 --> 00:01:03,521
[announcer] We have expert Ro$$ Mac
coming to the stage.
13
00:01:04,939 --> 00:01:06,858
For me,
it was always Black wealth matters.
14
00:01:07,776 --> 00:01:09,903
And the way I wanted to do that
was through information
15
00:01:09,986 --> 00:01:11,613
and educating the community.
16
00:01:11,696 --> 00:01:15,742
Welcome to this week's episode
of Maconomics. I'm your host Ro$$ Mac.
17
00:01:16,326 --> 00:01:19,996
We are joined now
by financial expert Tiffany Aliche
18
00:01:20,080 --> 00:01:22,248
who is also
a New York Times best-selling author
19
00:01:22,332 --> 00:01:24,876
of Get Good with Money.
20
00:01:25,376 --> 00:01:28,463
I'm almost like the preschool teacher
of financial education.
21
00:01:28,546 --> 00:01:30,632
I really focus on the fundamentals.
22
00:01:31,508 --> 00:01:36,471
Budgeting, saving, credit, debt,
and learning to earn.
23
00:01:37,055 --> 00:01:40,600
These are the first steps
to what I call financial wholeness.
24
00:01:41,726 --> 00:01:43,770
[newscaster] He's now become
a personal finance guru,
25
00:01:43,853 --> 00:01:45,271
and not because he made millions,
26
00:01:45,355 --> 00:01:48,399
but because he cut back
in some radical ways.
27
00:01:48,483 --> 00:01:51,569
On the Internet,
my name is Mr. Money Mustache,
28
00:01:51,653 --> 00:01:54,531
and 15 years ago, I had a dream
29
00:01:54,614 --> 00:01:57,867
and was able to retire
just before my 31st birthday.
30
00:01:57,951 --> 00:01:59,744
[audience applauds]
31
00:01:59,828 --> 00:02:02,956
The thing about money is
it really is not very complicated,
32
00:02:03,039 --> 00:02:05,959
but what can you use it for
other than just buying more stuff?
33
00:02:06,042 --> 00:02:08,378
You can buy freedom with money,
34
00:02:08,461 --> 00:02:10,672
where you never have
to worry about money again,
35
00:02:11,214 --> 00:02:13,466
but that's not what
we're trained to do in this country.
36
00:02:13,550 --> 00:02:14,425
[alarm beeping]
37
00:02:14,509 --> 00:02:17,929
["Bills" by LunchMoney Lewis plays]
38
00:02:20,932 --> 00:02:23,101
♪ I got bills ♪
39
00:02:23,184 --> 00:02:25,019
♪ I gotta pay ♪
40
00:02:25,103 --> 00:02:28,356
♪ So I'ma gon' work, work
Work every day ♪
41
00:02:28,940 --> 00:02:30,775
♪ I got mouths ♪
42
00:02:30,859 --> 00:02:32,527
♪ I gotta feed ♪
43
00:02:32,610 --> 00:02:36,239
♪ So I'ma gon' make sure everybody eats ♪
44
00:02:37,615 --> 00:02:39,701
So everybody wants
to get better at money, right?
45
00:02:39,784 --> 00:02:41,828
Maybe your budget is out of whack.
46
00:02:41,911 --> 00:02:45,123
Your debt is mounting.
You don't know how to earn.
47
00:02:46,082 --> 00:02:50,753
This year, we're gonna try something
strange and different and hopefully fun.
48
00:02:51,337 --> 00:02:54,257
[Tiffany] I'm going to gift one of you
49
00:02:54,340 --> 00:02:57,385
one year of personal financial coaching.
50
00:02:58,428 --> 00:03:02,265
You'll win a year of financial
and investing coaching from yours truly.
51
00:03:02,348 --> 00:03:04,058
♪ I got bills ♪
52
00:03:04,642 --> 00:03:06,311
♪ I gotta pay ♪
53
00:03:06,394 --> 00:03:09,480
♪ So I'ma gon' work, work
Work every day ♪
54
00:03:09,981 --> 00:03:11,774
♪ I got mouths ♪
55
00:03:11,858 --> 00:03:13,693
♪ I gotta feed ♪
56
00:03:13,776 --> 00:03:17,071
♪ So I'ma gon' make sure everybody eats ♪
57
00:03:17,655 --> 00:03:20,783
Now how do you enter
to work with me one-on-one?
58
00:03:21,367 --> 00:03:23,870
I want you to create a video,
and in that video,
59
00:03:23,953 --> 00:03:27,832
I want you to share who you are,
what you need help with.
60
00:03:27,916 --> 00:03:32,170
I'm looking to get some financial help
because we're trying to start a family.
61
00:03:32,253 --> 00:03:34,172
Hopefully, by the end of the year…
62
00:03:34,255 --> 00:03:35,924
I've got a little money in savings,
63
00:03:36,007 --> 00:03:39,636
and I'd love to learn some ways
to have it do more--
64
00:03:39,719 --> 00:03:43,890
I've never put a budget together.
I don't even know where to start.
65
00:03:43,973 --> 00:03:46,559
I just have no idea
how much I should be paying,
66
00:03:46,643 --> 00:03:48,186
how much I should be saving…
67
00:03:48,269 --> 00:03:52,357
$30,000 of student loan debt,
which I may pay off in my 50s or 60s…
68
00:03:52,440 --> 00:03:55,360
How do you get ahead
without taking out loans--
69
00:03:55,443 --> 00:03:58,321
Honestly I have no idea what we're doing
when it comes to retirement.
70
00:03:58,404 --> 00:04:00,782
I am definitely
in a paycheck-to-paycheck cycle…
71
00:04:00,865 --> 00:04:03,493
I currently have minimal funds
in my bank account…
72
00:04:03,576 --> 00:04:05,620
I never had that financial education…
73
00:04:05,703 --> 00:04:07,455
Are we investing in the right areas--
74
00:04:07,538 --> 00:04:09,624
I definitely need help managing my money--
75
00:04:09,707 --> 00:04:12,293
-I really appreciate your help--
-Could really use your help--
76
00:04:12,377 --> 00:04:13,711
-[woman] …help.
-[man] I need help.
77
00:04:13,795 --> 00:04:16,256
["Bills" by LunchMoney Lewis ends]
78
00:04:21,511 --> 00:04:23,930
Hi, I'm Kim and this is John.
79
00:04:24,013 --> 00:04:26,975
We are earning a lot for the first time.
80
00:04:27,058 --> 00:04:30,186
Uh, we're also spending a lot
and want to know what to do
81
00:04:30,270 --> 00:04:31,562
with that money.
82
00:04:31,646 --> 00:04:35,275
Uh, whether that's early retirement,
or even what the options are.
83
00:04:35,858 --> 00:04:38,069
Kim and John are
kind of the perfect candidates
84
00:04:38,152 --> 00:04:40,822
for financial freedom
and early retirement.
85
00:04:40,905 --> 00:04:44,409
That just means you have
more free time, more mental health,
86
00:04:44,492 --> 00:04:46,202
more time to spend with your kids.
87
00:04:46,786 --> 00:04:48,413
Hi, I'm Ariana.
88
00:04:48,496 --> 00:04:51,666
I am an emotional spender.
89
00:04:51,749 --> 00:04:55,878
I am currently buried
in a mountain of debt.
90
00:04:55,962 --> 00:04:59,924
I am super, super, super excited
about meeting Ariana.
91
00:05:00,008 --> 00:05:03,720
Teaching women how to gain confidence
92
00:05:03,803 --> 00:05:05,930
about their money is kind of my jam.
93
00:05:06,848 --> 00:05:09,309
My name's Teez. I got a big payday.
94
00:05:09,392 --> 00:05:11,144
A lot of money sitting in the bank.
95
00:05:11,227 --> 00:05:14,022
I know I should invest it,
but I don't know where to start.
96
00:05:14,522 --> 00:05:18,151
Teez, I would look at him and say he's
the epitome of a normal athlete, right?
97
00:05:18,234 --> 00:05:19,694
You come from the inner city,
98
00:05:19,777 --> 00:05:21,571
then you're thrust into
making a lot of money.
99
00:05:21,654 --> 00:05:24,198
He doesn't necessarily know
what to do with it.
100
00:05:24,949 --> 00:05:29,120
Hi there. Um, I'm Lindsey.
I've been living paycheck to paycheck.
101
00:05:29,203 --> 00:05:30,580
I have two jobs,
102
00:05:30,663 --> 00:05:33,082
but I still haven't been able
to save up any money,
103
00:05:33,166 --> 00:05:36,044
and I'm trying to break out of this cycle.
104
00:05:36,127 --> 00:05:40,673
Lindsey doesn't realize it,
but she has so much going for her.
105
00:05:41,257 --> 00:05:44,385
And so if she wants
to launch a new career,
106
00:05:44,469 --> 00:05:46,679
this is absolutely
the best time in her life
107
00:05:46,763 --> 00:05:48,890
for her to be able to take those risks.
108
00:05:50,350 --> 00:05:52,143
[upbeat music ends]
109
00:05:58,441 --> 00:06:00,443
[mellow music plays]
110
00:06:05,948 --> 00:06:09,911
[Lindsey] When I was in high school,
I knew exactly what I wanted to do.
111
00:06:12,205 --> 00:06:14,957
I was like, "Yes,
this is what's gonna happen."
112
00:06:16,042 --> 00:06:20,922
Go to college, go to fashion school,
get an internship, get a job,
113
00:06:21,005 --> 00:06:25,927
and by the age of 35,
be a name-brand designer.
114
00:06:28,346 --> 00:06:31,140
One day, I begged my mom
for a sewing machine.
115
00:06:31,224 --> 00:06:33,893
I wanted to make my ideas come to life.
116
00:06:34,394 --> 00:06:38,106
Then we started looking
at fashion schools for me to apply to.
117
00:06:38,648 --> 00:06:41,275
That's where I really learned
to hone my skills.
118
00:06:42,485 --> 00:06:45,113
I will say I never completed school,
119
00:06:46,155 --> 00:06:48,199
but I at least learned the basics.
120
00:06:50,701 --> 00:06:52,995
So, I had this plan,
121
00:06:53,955 --> 00:06:55,540
but things change.
122
00:06:55,623 --> 00:06:56,999
Hi. How are y'all doing today?
123
00:06:57,083 --> 00:06:58,292
-Good. How are you?
-Good.
124
00:06:58,376 --> 00:07:00,545
-We have a keg of beer so far.
-[man] Watermelon--
125
00:07:01,129 --> 00:07:02,046
Watermelon, hell yeah.
126
00:07:02,755 --> 00:07:06,634
I have two jobs right now.
I am a waitress at a beer garden,
127
00:07:06,717 --> 00:07:09,637
and I am also a bartender at a brewery.
128
00:07:09,720 --> 00:07:11,764
I have you at $7.00 today.
129
00:07:12,348 --> 00:07:14,725
Two jobs, 50 hours a week.
130
00:07:15,643 --> 00:07:17,937
-Y'all doing okay? Lovely.
-[woman] Yes, thank you.
131
00:07:18,020 --> 00:07:20,731
[Lindsey] I don't really have
a lot of time to be me.
132
00:07:20,815 --> 00:07:22,150
Here you go.
133
00:07:22,233 --> 00:07:25,486
Because it's all about
making that money just to survive.
134
00:07:25,987 --> 00:07:27,989
[upbeat music plays]
135
00:07:30,616 --> 00:07:31,659
[dings]
136
00:07:32,618 --> 00:07:35,621
I've got y'all's beer ready.
Sorry about the wait.
137
00:07:36,914 --> 00:07:41,502
When I get my paychecks,
the first thing I do is pay my bills.
138
00:07:42,462 --> 00:07:46,132
But, when you're waitressing,
you don't know how much you're gonna make.
139
00:07:47,467 --> 00:07:51,971
I have not been able to pay all my bills
for about 14 months now.
140
00:07:53,514 --> 00:07:57,226
My biggest issue is not just
that it doesn't pay more money,
141
00:07:57,310 --> 00:07:59,353
but I wish I could have health insurance.
142
00:07:59,437 --> 00:08:01,439
[mellow music plays]
143
00:08:02,815 --> 00:08:05,651
I struggle with depression and anxiety,
144
00:08:06,569 --> 00:08:09,489
and I would like to take medication for it
145
00:08:09,572 --> 00:08:12,158
because I know that it would help me.
146
00:08:13,284 --> 00:08:15,369
However, I can't afford that.
147
00:08:19,499 --> 00:08:23,878
The amount of money I make
definitely eats at me inside.
148
00:08:24,629 --> 00:08:28,007
How I strive to be this image
149
00:08:28,090 --> 00:08:32,094
that I grew up to believe was successful.
150
00:08:32,929 --> 00:08:36,140
I just don't feel like
where I'm supposed to be
151
00:08:36,224 --> 00:08:37,725
at this point in my life.
152
00:08:42,271 --> 00:08:47,568
I feel like I am putting in a lot of work
and a lot of labor and a lot of hours,
153
00:08:47,652 --> 00:08:50,404
and there's only so much
that I can put in,
154
00:08:50,488 --> 00:08:53,783
but I don't want to be living
paycheck to paycheck anymore.
155
00:08:55,701 --> 00:08:56,994
[Paula] Hey, Instagram.
156
00:08:57,078 --> 00:09:01,123
Today, we're talking about reimagining
the way we earn money.
157
00:09:01,207 --> 00:09:04,085
So that's exactly what I did
when I ditched my nine-to-five
158
00:09:04,168 --> 00:09:05,920
and built an online business.
159
00:09:06,003 --> 00:09:09,840
And I want to help you find
a sustainable way to make money.
160
00:09:09,924 --> 00:09:14,178
A way that matches your talents
and sparks your passion.
161
00:09:16,430 --> 00:09:18,057
So, tell me about you.
162
00:09:18,140 --> 00:09:20,935
Well, I am a waitress,
and I am a bartender,
163
00:09:21,018 --> 00:09:23,980
but my ultimate dream is
to do something with art.
164
00:09:24,063 --> 00:09:26,691
-Lindsey, how old are you?
-I am 27 years old.
165
00:09:26,774 --> 00:09:28,067
-[Paula] Twenty-seven. Okay.
-Yes.
166
00:09:28,150 --> 00:09:30,403
So, I'll tell you
about myself in my twenties.
167
00:09:30,486 --> 00:09:32,321
When I graduated from college,
168
00:09:32,405 --> 00:09:36,492
I got a job as a newspaper reporter
and I made $21,000 a year.
169
00:09:36,576 --> 00:09:39,036
That's the equivalent
of making $11.50 an hour.
170
00:09:39,620 --> 00:09:43,791
I was always really frugal,
but I kept trying to save money.
171
00:09:43,874 --> 00:09:46,377
-To improve my financial situation.
-Right.
172
00:09:46,460 --> 00:09:47,753
So in spending,
173
00:09:47,837 --> 00:09:50,298
the average American spends
the majority of their money
174
00:09:50,381 --> 00:09:52,842
on the big three.
Housing, transportation, food.
175
00:09:53,426 --> 00:09:55,928
If you cut back on those three things,
176
00:09:56,012 --> 00:09:58,389
that's where you're going to get
the biggest savings.
177
00:09:59,390 --> 00:10:01,559
Downsizing your house or apartment,
178
00:10:01,642 --> 00:10:05,396
taking on a roommate,
renting out a room on Airbnb,
179
00:10:05,479 --> 00:10:09,150
those are ways you can
significantly reduce your housing costs.
180
00:10:09,233 --> 00:10:10,234
[Lindsey] Okay.
181
00:10:10,318 --> 00:10:13,487
[Paula] And you live someplace
where a car is necessary,
182
00:10:13,571 --> 00:10:15,656
go for the cheapest option
183
00:10:15,740 --> 00:10:18,576
that will safely get you
from point A to point B.
184
00:10:19,410 --> 00:10:21,829
Nothing fancy, just utilitarian.
185
00:10:21,912 --> 00:10:25,833
Wonderful. All right, so tell me more
about, like, your food habits, generally.
186
00:10:25,916 --> 00:10:31,088
I would say a majority of what we spend
our food money on is take-out.
187
00:10:31,172 --> 00:10:33,549
-That's one thing I want to stop doing.
-Hmm.
188
00:10:34,383 --> 00:10:38,262
[Lindsey] My fiancé and I are both
in the service industry.
189
00:10:38,346 --> 00:10:40,473
We've been around a kitchen all day.
190
00:10:40,556 --> 00:10:42,725
The last thing we wanna do is
191
00:10:42,808 --> 00:10:45,227
spend an hour cooking.
192
00:10:45,311 --> 00:10:47,396
[Paula] First of all,
restaurant food is more expensive
193
00:10:47,480 --> 00:10:48,773
than food that you make yourself.
194
00:10:48,856 --> 00:10:53,194
-[Lindsey] Oh, absolutely.
-[Paula] Then there's delivery charges.
195
00:10:53,277 --> 00:10:56,447
And you're in the service industry,
so I'm sure you're a good tipper,
196
00:10:57,156 --> 00:11:00,117
which is great, but like, that adds up.
197
00:11:00,201 --> 00:11:01,077
[Lindsey] It does.
198
00:11:02,453 --> 00:11:05,706
[Paula] So instead of getting take-out,
start meal prepping.
199
00:11:05,790 --> 00:11:07,541
Go to the grocery store once a week.
200
00:11:07,625 --> 00:11:11,045
Do a big batch run
of pre-cooked meals for the whole week.
201
00:11:11,128 --> 00:11:12,046
Fantastic.
202
00:11:12,129 --> 00:11:15,758
Spending less is
the quick and easy solution,
203
00:11:15,841 --> 00:11:18,594
but there's a limit
to how much you can frugal down.
204
00:11:18,678 --> 00:11:21,055
There's no limit to how much you can make.
205
00:11:21,138 --> 00:11:24,433
I just wish I was making more,
206
00:11:24,517 --> 00:11:29,063
and one of the main drawbacks
to the service industry
207
00:11:29,146 --> 00:11:31,315
is the lack of benefits.
208
00:11:31,399 --> 00:11:34,443
You could try to find
some type of side hustle
209
00:11:34,527 --> 00:11:36,612
or some type of work
that you do on your own…
210
00:11:36,696 --> 00:11:37,655
[Lindsey] Hmm.
211
00:11:37,738 --> 00:11:40,533
…that makes enough money
that it compensates for that.
212
00:11:40,616 --> 00:11:41,575
-Okay.
-[Paula] Right?
213
00:11:41,659 --> 00:11:44,370
So, let's talk about
the income side of the equation.
214
00:11:44,453 --> 00:11:47,164
-That's where the real potential exists.
-Yes.
215
00:11:47,248 --> 00:11:51,752
What I saw was that in order to make more,
I was gonna have to go independent
216
00:11:51,836 --> 00:11:55,297
and start my own side hustle,
start my own business.
217
00:11:55,881 --> 00:11:59,468
There are two different types of side gigs
that I want you to be thinking about.
218
00:11:59,552 --> 00:12:00,386
Okay.
219
00:12:00,469 --> 00:12:03,681
One is gig economy stuff.
220
00:12:03,764 --> 00:12:07,560
And so that's immediate,
short-term, quick cash,
221
00:12:07,643 --> 00:12:10,563
something where boom,
you can make money today.
222
00:12:10,646 --> 00:12:14,775
What other types of jobs
do you think could fill in that gap?
223
00:12:14,859 --> 00:12:17,903
I used to, uh, dog sit for families.
224
00:12:17,987 --> 00:12:21,031
I love dogs. I love being around animals.
225
00:12:21,115 --> 00:12:24,243
-A side hustle dog walking or dog sitting…
-[Lindsey] Mm-hmm.
226
00:12:24,326 --> 00:12:26,704
…that's gonna get money
in the door this week.
227
00:12:26,787 --> 00:12:29,749
And then also there is the art aspect.
228
00:12:29,832 --> 00:12:31,625
I'm really good at illustration.
229
00:12:31,709 --> 00:12:33,461
If you can sketch really quickly,
230
00:12:33,544 --> 00:12:35,463
imagine if you went to a dog park
231
00:12:35,963 --> 00:12:39,759
and you walked up to someone
and you're like, "Hey, I love your dog."
232
00:12:39,842 --> 00:12:42,261
"Do you mind if I just do
a little 2-minute sketch?"
233
00:12:43,012 --> 00:12:44,221
You give them that sketch.
234
00:12:44,305 --> 00:12:46,098
You put your phone number at the bottom.
235
00:12:46,182 --> 00:12:47,308
By the way, I walk dogs.
236
00:12:47,892 --> 00:12:49,351
I love that idea!
237
00:12:49,435 --> 00:12:54,899
And then the other type of side gig is
building out your own business,
238
00:12:54,982 --> 00:12:56,942
but it's going to take a lot longer.
239
00:12:59,904 --> 00:13:03,324
[Lindsey] At some point, I would like
to get out of the service industry.
240
00:13:03,991 --> 00:13:05,659
Deep down at my core,
241
00:13:05,743 --> 00:13:08,162
I am an artist, and I always have been.
242
00:13:08,913 --> 00:13:10,706
I do a little bit of everything.
243
00:13:10,790 --> 00:13:12,917
I do painting.
244
00:13:13,959 --> 00:13:15,669
I make costumes.
245
00:13:17,046 --> 00:13:21,091
And that's been my dream my entire life
of what I would like to do.
246
00:13:23,302 --> 00:13:25,805
[Paula] So the most important thing is
that you have the hustle.
247
00:13:25,888 --> 00:13:27,389
I've got the drive and the heart.
248
00:13:27,473 --> 00:13:29,475
I feel like
I just don't have the know-how.
249
00:13:30,059 --> 00:13:33,062
-Easy. Easy. I got that. I got that.
-[Lindsey] Awesome. [chuckles]
250
00:13:34,188 --> 00:13:36,398
Art is my passion.
251
00:13:37,149 --> 00:13:41,403
So I would love to find a way
to make money from my art.
252
00:13:41,487 --> 00:13:42,988
That is the ultimate dream.
253
00:13:49,453 --> 00:13:51,247
[upbeat music plays]
254
00:14:02,424 --> 00:14:03,592
[door opens]
255
00:14:07,513 --> 00:14:11,559
[Teez] Growing up, you look
at playing football as this big dream.
256
00:14:11,642 --> 00:14:13,185
You know, the promised land.
257
00:14:15,229 --> 00:14:18,607
It takes one person to break through
the generations of poverty
258
00:14:18,691 --> 00:14:20,526
or living paycheck to paycheck.
259
00:14:25,739 --> 00:14:27,074
[woman] I love the pink one.
260
00:14:27,783 --> 00:14:30,077
Go show Daddy. You can show him.
261
00:14:30,160 --> 00:14:31,579
[Teez] Oh, Mama. A princess.
262
00:14:32,621 --> 00:14:33,747
You look sweet!
263
00:14:34,331 --> 00:14:35,833
You got on your crown.
264
00:14:35,916 --> 00:14:37,459
Who your best friend?
265
00:14:37,543 --> 00:14:39,086
My best friend Mama.
266
00:14:39,169 --> 00:14:40,504
-[woman laughs]
-Oh.
267
00:14:40,588 --> 00:14:42,548
-You played me.
-[woman laughs]
268
00:14:42,631 --> 00:14:44,383
[Teez] I thought
Daddy was your best friend.
269
00:14:44,466 --> 00:14:45,426
[chuckles]
270
00:14:48,178 --> 00:14:52,057
[Teez] Somebody like me,
a young, Black African-American male,
271
00:14:52,141 --> 00:14:53,893
that come from where I come from,
272
00:14:54,393 --> 00:14:57,146
I thought football was the only way
to make money and make a lot of it.
273
00:14:58,647 --> 00:15:00,399
[commentator 1] It's off! Tabor!
274
00:15:00,983 --> 00:15:04,194
Picked up by Tabor.
Tabor racing to the endzone!
275
00:15:04,945 --> 00:15:09,408
[Teez] After my third season in college,
everybody was talking about me.
276
00:15:09,491 --> 00:15:12,453
[commentator 2] One of the best
quarterbacks in the nation is Teez Tabor.
277
00:15:13,078 --> 00:15:16,832
This could be a pick six!
Touchdown! Tabor!
278
00:15:17,750 --> 00:15:19,793
[Teez] Once I realized
I can make a career out of it,
279
00:15:19,877 --> 00:15:21,754
it was no way I could stay in school.
280
00:15:21,837 --> 00:15:24,381
They talk about you making beaucoup bucks.
281
00:15:24,465 --> 00:15:26,383
You got people you gotta take care of.
282
00:15:28,052 --> 00:15:29,887
[man] With the 53rd pick,
283
00:15:30,554 --> 00:15:35,267
in the 2017 master football league draft,
284
00:15:35,768 --> 00:15:40,564
the Detroit Lions
have selected Teez Tabor.
285
00:15:40,648 --> 00:15:42,608
[crowd cheers]
286
00:15:42,691 --> 00:15:46,236
[Teez] My first check says 1.6 million.
287
00:15:46,946 --> 00:15:50,574
A young kid from Maryland,
21, instantly rich.
288
00:15:51,158 --> 00:15:55,829
But I had to pay my agent out the gate,
and taxes is 40%.
289
00:15:57,039 --> 00:15:58,791
I bought my mother a house.
290
00:15:58,874 --> 00:16:00,334
I bought this house.
291
00:16:00,417 --> 00:16:01,877
A couple jewelry pieces.
292
00:16:01,961 --> 00:16:03,170
[screen whirring]
293
00:16:03,253 --> 00:16:04,588
Those were the big purchases.
294
00:16:05,089 --> 00:16:08,008
I went to Paris.
I went to Saint Lucia, Hawaii.
295
00:16:11,345 --> 00:16:12,262
Man…
296
00:16:12,846 --> 00:16:15,891
But I went from 1.6 to two-something.
297
00:16:16,433 --> 00:16:18,936
Two eighty. I'm like, "This will go fast."
298
00:16:19,019 --> 00:16:21,814
I'm gonna cool off
'cause I see how quick it can go.
299
00:16:22,690 --> 00:16:24,316
[referee blows whistle]
300
00:16:24,400 --> 00:16:26,986
Only goal in mind
was keep playing football.
301
00:16:27,069 --> 00:16:28,529
The money will keep coming in.
302
00:16:29,863 --> 00:16:31,907
I played two seasons in Detroit.
303
00:16:31,991 --> 00:16:33,909
[commentator] On the sideline,
he makes the catch,
304
00:16:33,993 --> 00:16:35,869
right in front of Teez Tabor.
305
00:16:36,453 --> 00:16:39,790
[Teez] Everybody in the NFL know
if you're not producing at a high level,
306
00:16:39,873 --> 00:16:41,291
they're gonna get rid of you.
307
00:16:41,792 --> 00:16:43,794
[somber music plays]
308
00:16:45,045 --> 00:16:46,839
I ended up getting released.
309
00:16:49,383 --> 00:16:52,428
After I got released from Detroit,
I ended up going to San Fran.
310
00:16:53,804 --> 00:16:56,390
But I break my foot
right before training camp.
311
00:16:57,808 --> 00:16:59,601
So, they had to release me.
312
00:17:00,519 --> 00:17:01,562
Right there.
313
00:17:01,645 --> 00:17:03,022
[grunts softly]
314
00:17:04,314 --> 00:17:05,983
[Teez] My world came crashing down.
315
00:17:06,608 --> 00:17:08,402
[therapist] Let's take it back down.
316
00:17:08,485 --> 00:17:13,365
[Teez] There were some long nights.
Some long nights thinking like, "Why me?"
317
00:17:13,449 --> 00:17:16,410
"Why get me all the way here
and then take it away from me?"
318
00:17:19,371 --> 00:17:21,707
[car engine revving]
319
00:17:21,790 --> 00:17:24,918
That made me take a step back
and open my eyes up to my money.
320
00:17:28,005 --> 00:17:32,217
One of my good friends told me
about the guy who they feel help people
321
00:17:32,301 --> 00:17:33,510
with their finances.
322
00:17:36,096 --> 00:17:38,015
-What's good, brodie?
-Yes, sir.
323
00:17:38,098 --> 00:17:40,768
-Oh. How you livin', fool?
-I'm good. How are you?
324
00:17:40,851 --> 00:17:42,311
Man, I'm all good, thank you.
325
00:17:43,729 --> 00:17:45,647
[Ro$$] I'm a financial educator.
326
00:17:45,731 --> 00:17:49,485
I opened up my brokerage account
to start buying stocks at the age of 18.
327
00:17:50,986 --> 00:17:55,115
I'm 31 now, but I'm close
to being financially free already.
328
00:17:55,699 --> 00:17:57,743
My kids will be financially free.
329
00:17:59,078 --> 00:18:01,413
What we're talking about
right now is the future,
330
00:18:01,497 --> 00:18:04,917
and the way
you get invested in it right now
331
00:18:05,000 --> 00:18:08,378
is getting out
of your own logic of thinking.
332
00:18:11,090 --> 00:18:13,801
[Ro$$] You know, I ended up working
at Morgan Stanley for three years,
333
00:18:13,884 --> 00:18:16,929
so for me it's like, man, I just want
to start helping our community get
334
00:18:17,012 --> 00:18:21,058
better exposure to investing.
Better exposure to financial literacy.
335
00:18:21,767 --> 00:18:26,230
Like, when did it trigger in your mind,
like, "All right, I need to be investing,"
336
00:18:26,313 --> 00:18:28,148
or any conversations like that?
337
00:18:29,775 --> 00:18:33,779
I felt like after my second season,
when I ended up getting hurt,
338
00:18:35,030 --> 00:18:37,825
me realizing like,
"What are you going to do?"
339
00:18:37,908 --> 00:18:39,993
Football's been my life
since I was four years old,
340
00:18:40,077 --> 00:18:41,995
so when I step outside this box,
341
00:18:42,788 --> 00:18:45,082
I don't even know where to go,
like, where to even start.
342
00:18:45,165 --> 00:18:46,291
I'm a fish out of water.
343
00:18:46,375 --> 00:18:47,751
-Mm-hmm
-[Teez] You know--
344
00:18:47,835 --> 00:18:50,671
We gotta look at this and say like,
"What happens right now?"
345
00:18:50,754 --> 00:18:52,965
-If you never get another football check.
-Right.
346
00:18:53,048 --> 00:18:54,633
[Ro$$] And you don't know where to start.
347
00:18:54,716 --> 00:18:56,718
The easiest way to become a player
at the game,
348
00:18:56,802 --> 00:18:58,470
just put your money in the S&P 500
349
00:18:58,971 --> 00:19:02,766
because on average,
that's gonna grow at 10% each year.
350
00:19:02,850 --> 00:19:06,728
So what is that-- You said S&P S…
351
00:19:06,812 --> 00:19:10,315
S&P 500. They made…
They made an index to say
352
00:19:10,399 --> 00:19:13,610
we're gonna buy
all of these 500 companies.
353
00:19:13,694 --> 00:19:14,820
[screen whirring]
354
00:19:14,903 --> 00:19:17,948
[Ro$$] So, look, when you're thinking
about investing, here's the…
355
00:19:18,031 --> 00:19:19,616
Put it in layman's terms, right?
356
00:19:19,700 --> 00:19:21,952
By buying a stock,
you literally are able to buy
357
00:19:22,035 --> 00:19:23,954
a very small piece of a company.
358
00:19:24,913 --> 00:19:28,458
An index fund is
literally a basket of stocks.
359
00:19:28,542 --> 00:19:32,254
You're not just buying one stock.
You get to buy a basket of them.
360
00:19:32,754 --> 00:19:36,341
And what's great about it,
it gives you inherent diversity.
361
00:19:37,050 --> 00:19:38,218
In the S&P 500,
362
00:19:38,302 --> 00:19:40,554
you have all the sectors
that you could think of.
363
00:19:40,637 --> 00:19:44,349
Retail companies. There's banks.
You got healthcare companies.
364
00:19:44,433 --> 00:19:48,061
Technology companies.
You got oil and gas, airlines.
365
00:19:49,855 --> 00:19:51,231
Now, obviously, the market,
366
00:19:51,315 --> 00:19:53,817
you can have disclaimers
that the market could go down.
367
00:19:53,901 --> 00:19:56,612
There are years
the market could go down 10%,
368
00:19:56,695 --> 00:19:59,156
but Warren Buffet,
if you google him right now,
369
00:19:59,239 --> 00:20:00,699
he's going to tell anybody--
370
00:20:00,782 --> 00:20:04,369
He's the smartest investor of all time.
He make money the slow way.
371
00:20:04,453 --> 00:20:06,622
Right? He's going to tell you,
anybody at the crib,
372
00:20:06,705 --> 00:20:09,416
Mom and Pop,
Grandma know, Uncle Ray Ray know,
373
00:20:09,499 --> 00:20:11,668
-just put your money in the S&P 500…
-Put your money--
374
00:20:11,752 --> 00:20:14,338
…and it's gonna really build over time.
375
00:20:15,005 --> 00:20:17,090
-All right. Let's get into it.
-For sure.
376
00:20:18,550 --> 00:20:20,719
-[woman] Whoo!
-[girl laughs]
377
00:20:22,137 --> 00:20:25,390
-Not so fast! Want fast? Okay.
-Run in the grass though! Be careful!
378
00:20:25,474 --> 00:20:29,061
[Teez] Our parents always taught us
how to, like, fend for ourselves.
379
00:20:29,144 --> 00:20:30,687
A hustler's mentality, so,
380
00:20:30,771 --> 00:20:35,901
that's what they did teach us, uh,
but as far as, uh, savings plans,
381
00:20:35,984 --> 00:20:38,070
investment plans,
382
00:20:38,654 --> 00:20:42,199
we… we don't know. It's…
It's a language that's never taught to us.
383
00:20:42,282 --> 00:20:44,993
Daddy gonna catch you.
Daddy gonna catch you.
384
00:20:45,077 --> 00:20:47,371
-[woman laughs]
-[girl laughs]
385
00:20:51,583 --> 00:20:53,085
I wanna go to the skies.
386
00:20:53,168 --> 00:20:54,503
You wanna go to the skies?
387
00:20:55,295 --> 00:20:57,130
[Teez] I just wanna help my daughter.
388
00:20:57,214 --> 00:21:00,968
-Okay. One…
-One, two, three, four.
389
00:21:01,051 --> 00:21:03,178
[laughs and screams]
390
00:21:05,138 --> 00:21:08,600
[Teez] I wanna make it easier for her
391
00:21:08,684 --> 00:21:12,229
than, you know,
my people's made it for me.
392
00:21:13,146 --> 00:21:15,399
-[Teez] Whoo. Yum.
-[laughs]
393
00:21:23,323 --> 00:21:27,869
[Ariana] "The night Max wore his wolf suit
and made mischief of one kind
394
00:21:27,953 --> 00:21:30,455
and another…"
Look, he's chasing the puppy.
395
00:21:30,539 --> 00:21:32,249
He's chasing the puppy.
396
00:21:32,332 --> 00:21:35,919
He's chasing the puppy.
"…his mother called him Wild Thing
397
00:21:37,045 --> 00:21:39,339
and Max said, 'I'll eat you up!'
398
00:21:40,841 --> 00:21:44,469
so he was sent to his bed
without anything to eat."
399
00:21:44,553 --> 00:21:45,679
Oh no!
400
00:21:47,055 --> 00:21:49,433
Money was something
to be spent growing up.
401
00:21:51,727 --> 00:21:53,895
My parents came
from the Dominican Republic
402
00:21:53,979 --> 00:21:55,022
when I was three.
403
00:21:56,648 --> 00:22:00,527
And I distinctly remember
my parents having a lot of conversations
404
00:22:00,610 --> 00:22:05,240
around like, "Well, we deserve this,"
or "I want this so I'm going to buy this."
405
00:22:06,616 --> 00:22:08,994
I was the first person in my family
to go to college.
406
00:22:10,412 --> 00:22:12,831
It was like,
"Just take out loans. It's fine."
407
00:22:13,832 --> 00:22:17,169
But no one explained to me
my student loans were accruing interest
408
00:22:17,252 --> 00:22:19,880
from the minute I signed them.
409
00:22:20,630 --> 00:22:23,175
Or like, why are you
allowing an 18-year-old
410
00:22:23,258 --> 00:22:25,302
to take out $25,000 a year?
411
00:22:25,385 --> 00:22:27,012
Like, how is that okay?
412
00:22:28,889 --> 00:22:34,144
And now I'm sitting here
with $108,000 in student loans.
413
00:22:35,395 --> 00:22:36,355
[baby cooing]
414
00:22:36,938 --> 00:22:38,398
[mumbles]
415
00:22:39,483 --> 00:22:42,110
The credit card spending
started when I was young.
416
00:22:42,194 --> 00:22:43,570
[upbeat music plays]
417
00:22:43,653 --> 00:22:46,031
I got my first job out of college,
418
00:22:46,114 --> 00:22:49,534
and I wound up getting an apartment
in New York that I couldn't afford.
419
00:22:49,618 --> 00:22:50,869
With no savings.
420
00:22:51,787 --> 00:22:52,829
And it went from there.
421
00:22:54,081 --> 00:22:57,250
Brunch was easily, like,
$100 every weekend.
422
00:22:58,126 --> 00:23:00,587
And then, like, my friends were going out,
423
00:23:00,670 --> 00:23:03,423
and, you know,
they were all buying new clothes.
424
00:23:04,800 --> 00:23:06,134
I couldn't always afford it.
425
00:23:06,218 --> 00:23:10,931
But I was like, "I deserve this,"
or "I had a really hard week. It's fine."
426
00:23:12,057 --> 00:23:13,683
And then we had kids.
427
00:23:15,060 --> 00:23:17,479
And then Amazon and Target became things.
428
00:23:18,188 --> 00:23:19,898
I got more credit cards.
429
00:23:19,981 --> 00:23:21,691
Buying things for the kids,
430
00:23:21,775 --> 00:23:26,196
buying clothes,
buying things to entertain ourselves with.
431
00:23:28,156 --> 00:23:29,408
I look around sometimes,
432
00:23:29,491 --> 00:23:31,868
and it's almost like
I see dollar signs everywhere.
433
00:23:34,746 --> 00:23:36,915
If I look back
at the credit card statements,
434
00:23:36,998 --> 00:23:39,292
I couldn't even tell you what it was.
435
00:23:40,502 --> 00:23:42,754
And just like buying to buy.
436
00:23:46,341 --> 00:23:48,427
My husband was covering
the majority of bills
437
00:23:48,510 --> 00:23:50,262
so I can focus on paying things off.
438
00:23:51,596 --> 00:23:54,141
And it just didn't happen. Like, I tried.
439
00:23:54,933 --> 00:23:57,811
I wound up getting personal loans
to pay off the cards
440
00:23:57,894 --> 00:24:00,397
to make it one lump payment
and a lower interest rate.
441
00:24:02,065 --> 00:24:04,651
And that decreased my monthly payments,
442
00:24:04,734 --> 00:24:08,405
which was helpful because, you know,
I wasn't making that much money,
443
00:24:08,488 --> 00:24:10,615
but then it freed up all my credit cards.
444
00:24:11,658 --> 00:24:14,953
And they wound up getting maxed out again.
445
00:24:15,036 --> 00:24:16,288
-Okay.
-[baby coos]
446
00:24:18,623 --> 00:24:20,834
[sizzling]
447
00:24:21,418 --> 00:24:24,087
It feels like
I'm just gonna always have debt.
448
00:24:26,131 --> 00:24:29,050
Like, I just am not making
the right decisions.
449
00:24:30,719 --> 00:24:34,181
[Tiffany] One of the first steps you have
to take when you're that deep in a hole,
450
00:24:34,264 --> 00:24:35,932
is you have to ask for help.
451
00:24:36,808 --> 00:24:40,479
I know firsthand
there are other people that were in debt
452
00:24:40,562 --> 00:24:42,189
that are no longer in debt.
453
00:24:42,272 --> 00:24:47,444
Tiffany Aliche was a preschool teacher
who lost it all and fell into debt
454
00:24:47,527 --> 00:24:49,488
during the recession in 2008.
455
00:24:50,071 --> 00:24:53,533
I was 30 years old
with $300,000 plus in debt.
456
00:24:54,242 --> 00:24:57,871
I was like, "Okay. Let me start
with the bare-bones basics."
457
00:24:57,954 --> 00:25:02,167
Let me list my bills.
Let me figure out what my expenses are.
458
00:25:03,126 --> 00:25:04,920
She pulled herself out of debt
459
00:25:05,003 --> 00:25:08,798
and began teaching
financial literacy seminars to women.
460
00:25:09,466 --> 00:25:11,843
[Tiffany] What I just shared with Ariana
is even though I made
461
00:25:11,927 --> 00:25:14,471
every mistake possible with my money,
462
00:25:14,554 --> 00:25:16,473
I was able to regain my footing,
463
00:25:17,140 --> 00:25:18,642
and so can she.
464
00:25:21,019 --> 00:25:24,481
So, how do you feel that you do
when it comes to spending?
465
00:25:24,564 --> 00:25:25,440
[chuckles]
466
00:25:25,524 --> 00:25:28,026
-Depends on the week.
-[both laugh]
467
00:25:28,109 --> 00:25:30,237
Um… [breathes deeply]
468
00:25:30,320 --> 00:25:32,113
There are some days that I'm really good,
469
00:25:32,197 --> 00:25:34,241
and I spend literally
no money on anything,
470
00:25:34,324 --> 00:25:37,452
and then there are other days
where it's not so great,
471
00:25:37,536 --> 00:25:41,665
and I talk myself into buying things
that we don't necessarily need.
472
00:25:41,748 --> 00:25:43,458
-Before you spend any money…
-Mm-hmm.
473
00:25:43,542 --> 00:25:46,044
…there are four questions
you should really ask yourself.
474
00:25:46,127 --> 00:25:47,504
And those four questions are:
475
00:25:47,587 --> 00:25:49,506
-Do I need it?
-[Ariana] Mm-hmm.
476
00:25:49,589 --> 00:25:51,550
-Do I love it?
-[Ariana] Okay.
477
00:25:51,633 --> 00:25:53,218
-Do I like it?
-[Ariana] Okay.
478
00:25:53,301 --> 00:25:54,302
Do I want it?
479
00:25:54,386 --> 00:25:57,556
Need it, love it, like it, want it.
I'm gonna write these down for you.
480
00:25:57,639 --> 00:25:58,640
Okay.
481
00:25:58,723 --> 00:26:01,851
Your needs are, "I must have this thing
482
00:26:01,935 --> 00:26:05,480
to maintain the health
and safety of myself and my family."
483
00:26:05,564 --> 00:26:06,815
-Okay.
-[Tiffany] Right?
484
00:26:06,898 --> 00:26:08,400
So give me some examples of some needs.
485
00:26:08,483 --> 00:26:10,527
-Mortgage, groceries.
-Mortgage. Mm-hmm.
486
00:26:11,152 --> 00:26:12,612
Loves are this.
487
00:26:12,696 --> 00:26:15,907
I want you to imagine if you had…
Who is one of the wealthiest people
488
00:26:15,991 --> 00:26:18,910
in the world that you're like, "There's
someone that can talk about wealth."
489
00:26:18,994 --> 00:26:21,454
-Oprah. [laughs]
-I was gonna say, yup! [laughs]
490
00:26:21,538 --> 00:26:24,332
-Everybody, right? If you had…
-[Ariana] Oprah money.
491
00:26:24,416 --> 00:26:26,751
-You get a car! You get a car!
-[Tiffany] Everybody! [laughs]
492
00:26:26,835 --> 00:26:27,794
Yeah! Like--
493
00:26:27,877 --> 00:26:31,047
Yes, if you had Oprah money,
what would you do or do more of?
494
00:26:31,631 --> 00:26:32,549
Oh God.
495
00:26:33,550 --> 00:26:34,718
[Ariana exhales]
496
00:26:34,801 --> 00:26:37,137
-Go on vacation. Travel with the kids.
-Right?
497
00:26:37,220 --> 00:26:40,056
And oftentimes we skip over love
'cause it can be a little pricey.
498
00:26:40,140 --> 00:26:41,433
-Yeah.
-You know?
499
00:26:41,516 --> 00:26:43,977
So we skip right to likes and wants.
500
00:26:44,060 --> 00:26:46,354
So a like is something
that will bring you joy
501
00:26:46,438 --> 00:26:48,106
for about less than six months.
502
00:26:48,189 --> 00:26:49,899
And so wants are just--
503
00:26:49,983 --> 00:26:52,152
There's no joy there,
just temporary satisfaction.
504
00:26:52,235 --> 00:26:55,864
I feel like most of the things
I buy from Amazon fall into that category.
505
00:26:55,947 --> 00:26:57,407
-[Tiffany] Okay.
-[Ariana] It's like--
506
00:26:57,490 --> 00:27:00,702
-It's easy to press that purchase button.
-[Tiffany] Yes.
507
00:27:02,329 --> 00:27:05,415
I want you to think of your needs
and loves like a quadrant, right?
508
00:27:05,498 --> 00:27:10,295
So needs and loves are on this side
and then likes and wants on this side.
509
00:27:10,378 --> 00:27:13,715
So when you are focused
on your needs and your loves,
510
00:27:13,798 --> 00:27:16,551
you're really living in more of your life.
511
00:27:16,635 --> 00:27:19,220
And when you're focused
on your likes and your wants,
512
00:27:19,304 --> 00:27:21,306
you're really living less of a life.
513
00:27:21,389 --> 00:27:23,141
[soothing music plays]
514
00:27:23,224 --> 00:27:27,979
At the end of this journey,
if I can… not be afraid of money,
515
00:27:29,022 --> 00:27:33,693
if I can have the confidence
to know that I will get out of debt
516
00:27:33,777 --> 00:27:35,612
and I will stay out debt,
517
00:27:37,113 --> 00:27:38,490
it would be huge.
518
00:27:42,494 --> 00:27:44,496
[upbeat music plays]
519
00:27:47,040 --> 00:27:48,541
[John] Do you want kids or kitchen?
520
00:27:48,625 --> 00:27:49,542
[Kim] I don't care.
521
00:27:49,626 --> 00:27:50,502
[John] Okay.
522
00:27:51,252 --> 00:27:52,587
I'll do kids.
523
00:27:53,296 --> 00:27:55,298
-Just yell if you need me.
-[John] Okay.
524
00:27:55,799 --> 00:27:58,718
Beep, beep, beep, beep.
525
00:27:58,802 --> 00:28:01,096
There you go! All right!
526
00:28:01,179 --> 00:28:02,305
I'm an engineer.
527
00:28:02,389 --> 00:28:04,849
-Nice job!
-[boy] Nice job!
528
00:28:04,933 --> 00:28:08,478
[John] When COVID hit,
they cut a bunch of the team.
529
00:28:09,813 --> 00:28:12,148
And I was just part of the…
part of the cut.
530
00:28:15,026 --> 00:28:16,277
I'm a stay-at-home dad now.
531
00:28:16,361 --> 00:28:19,447
Good, buddy.
Oh, should we put gas in the car?
532
00:28:19,531 --> 00:28:22,909
-Like that's my primary responsibility.
-[boy] It's Dad.
533
00:28:24,077 --> 00:28:26,079
[classical music plays]
534
00:28:33,545 --> 00:28:36,381
Right now, John does everything.
535
00:28:36,464 --> 00:28:37,882
Like everything.
536
00:28:42,345 --> 00:28:43,304
It's a lot.
537
00:28:45,598 --> 00:28:47,726
And it's not always been that way for us,
538
00:28:47,809 --> 00:28:50,562
but he's had to learn all of it.
539
00:28:51,646 --> 00:28:53,565
-[John] I'm super happy about it.
-[Kim] Yeah.
540
00:28:56,526 --> 00:28:59,070
[John] 'Cause I have
an amazing bond with our kids.
541
00:28:59,154 --> 00:29:00,947
[Kim] You do, which is so beautiful.
542
00:29:01,781 --> 00:29:04,743
And I'm, like, really jealous
all the time. [laughs]
543
00:29:04,826 --> 00:29:08,663
And then my ego gets jealous of,
you know, how successful you are.
544
00:29:09,289 --> 00:29:12,125
-Like, 'cause you are really successful.
-Yeah.
545
00:29:12,208 --> 00:29:17,005
It's just so ingrained
that the way I contribute as a man
546
00:29:17,088 --> 00:29:18,214
is to make money.
547
00:29:18,298 --> 00:29:19,215
What's up?
548
00:29:20,800 --> 00:29:23,219
[Kim] When he started being
a stay-at-home dad,
549
00:29:23,303 --> 00:29:28,224
I really struggled
with becoming the sole income maker
550
00:29:28,308 --> 00:29:31,644
and working so much
and being unavailable for my kids.
551
00:29:32,771 --> 00:29:34,814
Hello!
552
00:29:34,898 --> 00:29:37,358
-[woman] Hi! [laughs]
-How are you?
553
00:29:38,026 --> 00:29:44,532
I am a psychotherapist
and women's empowerment coach.
554
00:29:44,616 --> 00:29:48,203
There's all kinds of different ways
that you can embody a change,
555
00:29:48,286 --> 00:29:49,621
a transformation.
556
00:29:49,704 --> 00:29:54,918
Part of the reason
that we chose to have John stay at home
557
00:29:55,001 --> 00:29:58,254
is because my business
was growing financially.
558
00:29:59,339 --> 00:30:00,924
It was exponential growth.
559
00:30:01,466 --> 00:30:04,803
In 2018, it was maybe 70K for the year.
560
00:30:04,886 --> 00:30:09,390
And then in 2020, it was about 150,
561
00:30:10,308 --> 00:30:14,020
and then this year,
in theory, I'll be around 300.
562
00:30:14,771 --> 00:30:18,775
But every time we make more money,
we spend more money.
563
00:30:22,320 --> 00:30:24,572
I want to kind of like,
go to the other end of the spectrum
564
00:30:24,656 --> 00:30:26,950
and learn how to save,
565
00:30:27,033 --> 00:30:29,494
but we need… we definitely need
somebody to help us with that.
566
00:30:29,577 --> 00:30:30,495
But we learned-- Yeah.
567
00:30:31,079 --> 00:30:32,664
[jazz music plays]
568
00:30:32,747 --> 00:30:36,417
You're about to meet a young man
who retired at the age of 30.
569
00:30:36,501 --> 00:30:38,461
-Let's get rid of this mop.
-[clipper buzzes]
570
00:30:38,545 --> 00:30:42,632
When you do the math on this,
it's something like $10,000 of haircuts
571
00:30:42,715 --> 00:30:44,843
that this $40 device has saved me.
572
00:30:44,926 --> 00:30:48,596
[reporter 1] He preaches
his financial gospel on his popular blog,
573
00:30:48,680 --> 00:30:50,306
Mr. Money Mustache.
574
00:30:51,307 --> 00:30:53,935
[man] It has become
a worldwide cult phenomenon,
575
00:30:54,018 --> 00:30:57,188
which has grown to reach
about 23 million different people
576
00:30:57,272 --> 00:30:59,399
since its inception.
577
00:30:59,482 --> 00:31:02,777
[Kim] I've gotten
Mr. Money Mustache's emails for years,
578
00:31:02,861 --> 00:31:04,863
and I didn't even think
that was a possibility
579
00:31:04,946 --> 00:31:06,364
that you could retire early.
580
00:31:07,031 --> 00:31:10,827
I just assumed that my life
was going to be just what's expected.
581
00:31:10,910 --> 00:31:15,748
You work until you're 65,
and then you can finally have a life.
582
00:31:17,876 --> 00:31:20,253
-[man] Happy to finally meet y'all!
-[both] How are you doing?
583
00:31:20,336 --> 00:31:22,505
[man] So like, what brings you to me,
584
00:31:22,589 --> 00:31:24,716
and what's your goal
in changing your life?
585
00:31:25,216 --> 00:31:28,803
We're on the cusp of a high income.
586
00:31:28,887 --> 00:31:32,265
And so now that we have this resource,
587
00:31:32,348 --> 00:31:34,976
we want the tangible steps
where we can set ourselves up
588
00:31:35,059 --> 00:31:37,604
for the next five, ten years with a plan.
589
00:31:37,687 --> 00:31:40,773
So that we can be
financially independent after that.
590
00:31:40,857 --> 00:31:44,110
Like, what tangible steps
did you take at age 30?
591
00:31:44,193 --> 00:31:46,321
I was just earning
kind of an engineer's salary,
592
00:31:46,404 --> 00:31:48,656
which back in that day was $80,000 a year…
593
00:31:48,740 --> 00:31:49,699
[John] Hmm.
594
00:31:49,782 --> 00:31:54,203
…and cutting our expenses
where we were living on $40,000 a year.
595
00:31:54,287 --> 00:31:57,832
You invest the surplus
in just a standard index fund,
596
00:31:57,916 --> 00:31:59,792
and it just kind of builds up.
597
00:31:59,876 --> 00:32:03,004
And then when we got
to the level of investments,
598
00:32:03,087 --> 00:32:05,006
um, that was enough to live on,
599
00:32:05,089 --> 00:32:07,133
that was when
we felt safe quitting our jobs.
600
00:32:07,216 --> 00:32:09,469
And the definition of "enough to live on"
601
00:32:09,552 --> 00:32:13,264
just very roughly is that you have
25 times your living expenses
602
00:32:13,348 --> 00:32:14,307
in investments.
603
00:32:15,058 --> 00:32:17,226
If your expenses are $100,000 a year,
604
00:32:17,310 --> 00:32:21,731
you need 2.5 million dollars invested
to sustain that lifestyle.
605
00:32:22,231 --> 00:32:25,693
So it's not really your income
that matters. It's your spending choices.
606
00:32:26,235 --> 00:32:29,906
So I think the first step would be
figuring out where your money is going,
607
00:32:29,989 --> 00:32:32,158
like, what do you think
is the most spendy stuff?
608
00:32:32,825 --> 00:32:35,370
-[Kim] This is the embarrassing part.
-[Pete] Okay, this is great.
609
00:32:35,453 --> 00:32:39,040
So I see shopping,
which is a very big category.
610
00:32:39,123 --> 00:32:41,834
-[Kim laughs] Yeah.
-It's almost $2,000 a month.
611
00:32:42,502 --> 00:32:43,962
-Lots of Amazon.
-[Pete] Yeah.
612
00:32:44,045 --> 00:32:45,088
[Kim] Let's see.
613
00:32:45,171 --> 00:32:48,591
I just purchased dumbbells
for my SoulCycle classes.
614
00:32:48,675 --> 00:32:50,385
Ballet slippers,
615
00:32:50,468 --> 00:32:52,303
birthday supplies,
616
00:32:52,387 --> 00:32:53,346
hair stuff,
617
00:32:53,429 --> 00:32:54,806
more dog stuff.
618
00:32:55,306 --> 00:32:57,934
Everybody's brain has this thing
that I call the PJM.
619
00:32:58,017 --> 00:33:00,478
-It's Purchase Justification Machine…
-[Kim and John laugh]
620
00:33:00,561 --> 00:33:03,773
…and it's a little machine
running in their head and it's like…
621
00:33:03,856 --> 00:33:04,983
[mimics electronic beeps]
622
00:33:05,066 --> 00:33:08,277
…and it spits out excuses for why
you really want to buy something
623
00:33:08,361 --> 00:33:10,071
even if you don't actually need it.
624
00:33:10,947 --> 00:33:14,993
So the idea is to throw some dirt
and grit into the gears of this PJM
625
00:33:15,076 --> 00:33:16,995
-to slow it down.
-[machine rattles]
626
00:33:17,078 --> 00:33:19,539
What that means
is asking yourself questions like,
627
00:33:19,622 --> 00:33:23,084
"Am I really gonna use this thing?
How often would I use it?"
628
00:33:23,626 --> 00:33:27,130
Anything you could throw in front
is going to slow down your purchases,
629
00:33:27,213 --> 00:33:28,631
and you'll end up spending less.
630
00:33:29,298 --> 00:33:31,259
[machine hissing]
631
00:33:31,342 --> 00:33:33,344
The second-highest category is groceries.
632
00:33:33,428 --> 00:33:36,055
How many cheeses did you get this time?
633
00:33:36,139 --> 00:33:37,223
-[John] Four.
-[Kim chuckles]
634
00:33:37,306 --> 00:33:39,767
[Pete] You're spending
$1,200 a month on groceries.
635
00:33:39,851 --> 00:33:44,105
That is like banquet-level spending
for a small family.
636
00:33:44,188 --> 00:33:45,857
-You must be--
-Doesn't feel like it to us.
637
00:33:45,940 --> 00:33:48,693
You must be feeding, like,
royalty every night.
638
00:33:48,776 --> 00:33:51,404
You potentially
could get that down to 500,
639
00:33:51,487 --> 00:33:53,239
and that's $6,000 a year,
640
00:33:53,322 --> 00:33:57,660
$60,000 a decade,
just by tweaking your food spending.
641
00:33:57,744 --> 00:34:02,331
Literally have no idea how
you could possibly do that differently.
642
00:34:02,415 --> 00:34:07,545
I wonder if I could come
to like a guest grocery shopping.
643
00:34:08,129 --> 00:34:10,089
-[John] Yeah, let's do that.
-[laughs] Great.
644
00:34:10,590 --> 00:34:12,175
-Five years from now…
-[John] Okay.
645
00:34:12,258 --> 00:34:15,178
…what would you like
your lives to be like?
646
00:34:15,762 --> 00:34:18,347
The idea of retiring early sounds amazing.
647
00:34:18,431 --> 00:34:19,432
I'm totally into it,
648
00:34:19,515 --> 00:34:23,853
but also creating more space
and time to be with the family,
649
00:34:23,936 --> 00:34:27,732
to have, um, the bandwidth
to, like, actually be present.
650
00:34:27,815 --> 00:34:30,026
Yeah. That sounds really sustainable.
651
00:34:30,109 --> 00:34:33,071
Like, your plan is not
very far-fetched at all.
652
00:34:33,154 --> 00:34:35,364
It feels far-fetched to me.
I'm glad you think so.
653
00:34:35,448 --> 00:34:36,491
-[laughs]
-[Pete] Okay.
654
00:34:36,574 --> 00:34:38,576
Let's go play with your train set.
655
00:34:40,078 --> 00:34:41,079
[Kim] The last few years,
656
00:34:41,162 --> 00:34:45,625
we allowed ourselves
to be more consumeristic
657
00:34:45,708 --> 00:34:47,627
to cope with stress…
658
00:34:47,710 --> 00:34:48,669
Only one.
659
00:34:48,753 --> 00:34:53,007
…and as a reward
for the hard work that I do.
660
00:34:53,091 --> 00:34:54,342
All right. Three.
661
00:34:54,967 --> 00:34:58,179
So at the end of the day,
I'll, like, buy myself clothes
662
00:34:58,262 --> 00:35:00,139
or I'll buy them a toy…
663
00:35:01,307 --> 00:35:02,809
[speaking indistinctly]
664
00:35:03,601 --> 00:35:07,563
…but now, like, we're ready
to start making good long-term decisions
665
00:35:07,647 --> 00:35:12,193
as opposed to just, like,
getting through that time period.
666
00:35:20,743 --> 00:35:23,621
[Ro$$] So, like, right now, realistically,
667
00:35:23,704 --> 00:35:27,500
all else fails, in two years,
668
00:35:27,583 --> 00:35:30,503
you would technically
blow through your savings.
669
00:35:30,586 --> 00:35:31,671
Right.
670
00:35:32,171 --> 00:35:34,715
For me, we got to get
all the expenses down.
671
00:35:34,799 --> 00:35:36,259
[dings]
672
00:35:36,342 --> 00:35:39,053
Because you want to invest
a portion of these savings.
673
00:35:39,137 --> 00:35:41,639
Right? And still be comfortable.
674
00:35:41,722 --> 00:35:45,017
How much did you splurge
on a couple chains, a couple earrings,
675
00:35:45,101 --> 00:35:46,269
a couple watches?
676
00:35:47,436 --> 00:35:49,689
-[hesitates] Sixty…
-60K.
677
00:35:49,772 --> 00:35:50,773
So let's do this.
678
00:35:50,857 --> 00:35:54,527
Right now, if you would've put
$60,000 into the S&P 500,
679
00:35:54,610 --> 00:35:58,614
the stuff we was talking about,
that $60,000 today…
680
00:35:59,740 --> 00:36:01,784
…would be $112,000.
681
00:36:01,868 --> 00:36:03,119
Hmm. All right.
682
00:36:03,202 --> 00:36:04,620
Right? Nah, this ain't broke.
683
00:36:04,704 --> 00:36:08,374
I want you to see the numbers to just say,
"Okay. I've been missing out on money."
684
00:36:08,457 --> 00:36:11,210
Know what I'm saying?
That one little thing you forgot about.
685
00:36:11,294 --> 00:36:13,379
'Cause we bought a watch
and something with it.
686
00:36:13,462 --> 00:36:17,049
So for me, my biggest thing is
to just show you how the money works.
687
00:36:17,133 --> 00:36:19,385
[indistinct chatter]
688
00:36:22,763 --> 00:36:24,765
[Ro$$] When you own it, you in the game.
689
00:36:24,849 --> 00:36:26,976
-Okay.
-You feel me? Like you done laced them up.
690
00:36:27,059 --> 00:36:29,812
You between them white lines,
and you really in the game.
691
00:36:29,896 --> 00:36:31,898
-You feel me? It's game time.
-[chuckles]
692
00:36:31,981 --> 00:36:34,859
[Teez] The only thing I know
it's second and ten, third and five,
693
00:36:34,942 --> 00:36:38,196
X receive a cut split. Like, I don't…
That's what I understand.
694
00:36:39,530 --> 00:36:42,408
I just know that I got this much money
and I don't have the knowledge
695
00:36:42,491 --> 00:36:43,659
on how to keep it.
696
00:36:43,743 --> 00:36:48,206
Or how to really make it
run a marathon for me.
697
00:36:48,289 --> 00:36:50,082
That's why I'm just trying to learn.
698
00:36:56,589 --> 00:36:59,383
[Tiffany] So, first things first.
Whenever you're doing a budget,
699
00:36:59,467 --> 00:37:02,595
a budget is just a picture
of what your money is doing.
700
00:37:02,678 --> 00:37:06,057
And if you don't like that picture,
you have the option to change it.
701
00:37:06,140 --> 00:37:08,559
So your "money out" list looks like this.
702
00:37:15,233 --> 00:37:18,819
So let's talk about money in.
What do you take home monthly?
703
00:37:18,903 --> 00:37:20,488
Um, about $5,000.
704
00:37:20,571 --> 00:37:22,490
And then you said you had a second job?
705
00:37:22,573 --> 00:37:23,991
-Yes. So I'm…
-Okay.
706
00:37:24,075 --> 00:37:26,035
I picked up some virtual assistant work.
707
00:37:26,118 --> 00:37:28,120
[Tiffany] Which is about $700 a month.
708
00:37:28,204 --> 00:37:29,538
-Sounds right.
-Okay.
709
00:37:29,622 --> 00:37:32,166
The good news is,
there's actually money here.
710
00:37:32,250 --> 00:37:33,542
Yeah.
711
00:37:33,626 --> 00:37:36,087
[Tiffany] At your job,
do they allow you to split your paycheck?
712
00:37:36,170 --> 00:37:37,046
[Ariana] Yeah.
713
00:37:37,129 --> 00:37:39,215
[Tiffany] See if they'll do it
up to five splits.
714
00:37:39,298 --> 00:37:40,925
Split it before you get it.
715
00:37:41,676 --> 00:37:44,595
Your five splits are
your bills account for the home,
716
00:37:44,679 --> 00:37:46,555
your Ariana bucket for bills,
717
00:37:46,639 --> 00:37:48,683
you have your spending account,
718
00:37:48,766 --> 00:37:50,351
and you have two savings.
719
00:37:50,434 --> 00:37:52,853
Savings has two functions.
For emergencies and dreams.
720
00:37:52,937 --> 00:37:56,190
So you're going to put some
in your emergency savings account
721
00:37:56,274 --> 00:37:57,942
and some in your dream savings.
722
00:37:58,025 --> 00:38:00,820
So this is your budget. That's it.
A little bit of automation,
723
00:38:00,903 --> 00:38:03,614
then you don't have to
at the grocery store scramble.
724
00:38:03,698 --> 00:38:04,907
-Yeah.
-Because you know,
725
00:38:04,991 --> 00:38:08,369
"I put aside my money already.
It's there. I asked my job to do it."
726
00:38:08,452 --> 00:38:11,956
It's there for you to lean into
instead of your credit card.
727
00:38:13,624 --> 00:38:17,044
[Ariana] I've tried almost every budget
under the sun,
728
00:38:17,128 --> 00:38:19,297
and it's never really worked before.
729
00:38:19,797 --> 00:38:21,507
So this is really the chance.
730
00:38:23,050 --> 00:38:24,385
I'm ready to, like, do this work.
731
00:38:24,468 --> 00:38:27,221
I'm ready, like, to get to the point
of financial wholeness
732
00:38:27,305 --> 00:38:29,265
that Tiffany keeps talking about.
733
00:38:36,689 --> 00:38:39,358
[rock music plays]
734
00:38:39,442 --> 00:38:40,443
[woman] Nina, here!
735
00:38:41,235 --> 00:38:43,446
[kisses] Hey!
736
00:38:44,697 --> 00:38:45,740
[Lindsey] Hi there.
737
00:38:50,619 --> 00:38:53,122
[woman kisses] Nina! Stay! Come here.
738
00:38:53,748 --> 00:38:55,499
Okay? Go get it!
739
00:38:57,084 --> 00:38:59,253
[Lindsey] The piece of advice
that Paula gave me
740
00:38:59,337 --> 00:39:01,756
was to bring a sketchbook
741
00:39:01,839 --> 00:39:04,508
and draw people's dogs really quickly.
742
00:39:07,803 --> 00:39:11,432
[Lindsey] Hi! I'm sorry to bother you.
I hope you don't mind,
743
00:39:11,515 --> 00:39:15,353
but I went ahead and I drew your pup
because she's just so pretty.
744
00:39:15,436 --> 00:39:16,479
She's so happy.
745
00:39:16,562 --> 00:39:20,149
Also, I started
my own dog-walking/dog-sitting business.
746
00:39:20,232 --> 00:39:22,234
So I included my info on the back.
747
00:39:22,318 --> 00:39:24,111
[woman] Wow, that is so beautiful!
748
00:39:24,195 --> 00:39:26,280
-[Lindsey] Thank you so much.
-[woman] Thank you!
749
00:39:26,364 --> 00:39:28,866
[rock music continues]
750
00:39:35,998 --> 00:39:37,792
[Lindsey] I couldn't help
but notice your dog.
751
00:39:37,875 --> 00:39:42,046
He's just so happy and he's so cute,
and I kind of had to draw him.
752
00:39:42,129 --> 00:39:44,715
So I wanted to go ahead
and give you this sketch.
753
00:39:44,799 --> 00:39:46,592
-Thank you!
-My pleasure.
754
00:39:47,426 --> 00:39:51,180
[Lindsey] I was able to draw
four dogs in two hours,
755
00:39:51,263 --> 00:39:53,516
and that ended up being a big hit.
756
00:39:53,599 --> 00:39:56,852
If there are some trips I get stuck in,
I'll definitely give you a call.
757
00:39:56,936 --> 00:39:58,646
-Thank you!
-Of course!
758
00:39:58,729 --> 00:40:02,400
But the fact is most of the people
need dogs covered for the weekends,
759
00:40:02,483 --> 00:40:04,527
and being in the service industry,
760
00:40:04,610 --> 00:40:07,029
that is usually
when I'm scheduled the most.
761
00:40:10,116 --> 00:40:12,493
[Lindsey] Last time we saw each other,
after that,
762
00:40:12,576 --> 00:40:17,248
I made the decision
to quit one of my jobs.
763
00:40:17,331 --> 00:40:21,669
While I saw myself with potential
at that job at one point in time,
764
00:40:21,752 --> 00:40:23,379
it had turned into a dead-end job.
765
00:40:23,462 --> 00:40:25,131
This sounds like a breakup!
766
00:40:25,214 --> 00:40:27,675
-[both laugh]
-It does sound like a breakup!
767
00:40:27,758 --> 00:40:28,592
Uh…
768
00:40:28,676 --> 00:40:31,137
"I saw the potential,
but it was turning toxic."
769
00:40:31,220 --> 00:40:32,138
[both laugh]
770
00:40:32,221 --> 00:40:34,557
That's exactly what happened though.
771
00:40:34,640 --> 00:40:38,352
But right now,
I'm just struggling with the transition…
772
00:40:38,436 --> 00:40:40,646
-Okay. All right.
-…of losing that second income.
773
00:40:43,023 --> 00:40:43,983
[dings]
774
00:40:44,984 --> 00:40:47,778
You don't want to be reckless
with your life and your money,
775
00:40:47,862 --> 00:40:49,780
but then right there in the middle,
776
00:40:49,864 --> 00:40:53,742
in between cowardice and recklessness,
that's courage.
777
00:40:54,410 --> 00:40:58,414
And that's what I see
in your decision to quit the job
778
00:40:58,497 --> 00:41:02,835
that wasn't paying you enough,
wasn't honoring your time and talent.
779
00:41:02,918 --> 00:41:05,421
You're making me emotional
just to hear that.
780
00:41:05,504 --> 00:41:07,339
[both laugh]
781
00:41:07,423 --> 00:41:11,969
But it is allowing me
to focus on my side gigs
782
00:41:12,052 --> 00:41:16,974
and focus on what I really want to do
for the rest of my life,
783
00:41:17,057 --> 00:41:19,310
getting out of the service industry.
784
00:41:19,393 --> 00:41:21,395
[upbeat music plays]
785
00:41:32,948 --> 00:41:36,702
[Lindsey] So, I had my first art market
this last Saturday.
786
00:41:38,537 --> 00:41:40,456
The prints are 20 apiece, by the way.
787
00:41:40,539 --> 00:41:42,708
[woman] Okay! I love the doe one.
788
00:41:42,791 --> 00:41:46,045
-That one and the jellyfish one! So cool!
-Hell yeah!
789
00:41:46,962 --> 00:41:49,673
-[woman] Oh, this is gorgeous too.
-[Lindsey] Thank you.
790
00:41:50,841 --> 00:41:55,221
I took some high-quality photos
of the paintings that I already made,
791
00:41:55,304 --> 00:41:59,767
and the beautiful thing about prints
is if I need to recreate them,
792
00:41:59,850 --> 00:42:01,769
-I just go to the store.
-[chuckles]
793
00:42:01,852 --> 00:42:04,772
I already have the files
that I need to print out,
794
00:42:04,855 --> 00:42:07,816
so I don't need
to put in extra energy for it.
795
00:42:07,900 --> 00:42:09,902
-You know what the word for that is?
-[Lindsey] What?
796
00:42:09,985 --> 00:42:11,529
-Scalable.
-Scalable!
797
00:42:11,612 --> 00:42:13,447
-Scalable. It's scalable.
-Okay.
798
00:42:13,531 --> 00:42:17,034
You can multiply your income
without multiplying your effort or time.
799
00:42:17,117 --> 00:42:19,703
[woman talks indistinctly]
800
00:42:20,579 --> 00:42:21,956
[Linsey laughs] I know.
801
00:42:22,581 --> 00:42:24,124
Do you think this is something
802
00:42:24,208 --> 00:42:27,169
I should look into
making it a weekly thing?
803
00:42:27,253 --> 00:42:30,422
[Paula] So not only should you be making
this a weekly thing,
804
00:42:30,506 --> 00:42:33,676
you should also be looking
at all the other ways
805
00:42:33,759 --> 00:42:35,928
that you can scale your art career.
806
00:42:36,011 --> 00:42:37,012
[Lindsey] Okay.
807
00:42:37,096 --> 00:42:39,306
[Paula] Look at mass-producing
your prints.
808
00:42:39,390 --> 00:42:42,226
Look into creating NFTs,
non-fungible tokens,
809
00:42:42,309 --> 00:42:45,312
which will allow you
to sell your art digitally.
810
00:42:45,396 --> 00:42:46,480
[Lindsey] Wonderful.
811
00:42:46,564 --> 00:42:48,232
[Paula] For you especially,
812
00:42:48,315 --> 00:42:50,985
and for anyone whose, like,
whose side hustle
813
00:42:51,652 --> 00:42:53,946
is their intended second career,
814
00:42:54,488 --> 00:42:57,449
it makes even more sense
to, like, lean hard into it.
815
00:42:57,533 --> 00:42:58,450
Okay.
816
00:43:00,119 --> 00:43:02,371
[Paula] There's no blueprint
for building out your business
817
00:43:02,454 --> 00:43:03,747
from the ground up.
818
00:43:04,373 --> 00:43:08,419
Lindsey's making great progress,
but she also quit her waitressing job.
819
00:43:09,336 --> 00:43:11,005
So she quickly needs to figure out
820
00:43:11,088 --> 00:43:13,716
which of these new gigs is
gonna bring in the most money.
821
00:43:17,052 --> 00:43:18,971
[Teez] Hey, you think
it's gonna be cold up there?
822
00:43:19,054 --> 00:43:20,264
You think I need a jacket?
823
00:43:20,889 --> 00:43:22,266
-[woman] Yeah.
-[girl mumbles]
824
00:43:22,349 --> 00:43:24,351
-[Teez] For real?
-[woman] We gotta help Daddy pack!
825
00:43:24,435 --> 00:43:25,686
Where is Daddy going?
826
00:43:27,771 --> 00:43:29,398
You got socks.
827
00:43:29,481 --> 00:43:30,482
[girl] Yeah, yeah!
828
00:43:30,566 --> 00:43:31,817
[Teez] You silly.
829
00:43:31,900 --> 00:43:35,279
After I broke my foot,
I ended up getting on it back healthy,
830
00:43:35,362 --> 00:43:36,697
and Chicago called me.
831
00:43:36,780 --> 00:43:39,867
Oh, you packing
your princesses for Daddy. Good job.
832
00:43:39,950 --> 00:43:42,328
Now they invited me to training camp.
833
00:43:42,411 --> 00:43:46,457
Basically, training camp is a trial.
For me, it's to try to make the team.
834
00:43:46,957 --> 00:43:49,251
Ninety people get invited
to training camp,
835
00:43:49,335 --> 00:43:50,919
and they going to take the best 53.
836
00:43:53,547 --> 00:43:54,757
Ro$$ was just telling me.
837
00:43:54,840 --> 00:43:59,386
One, I got to start taking
this financial stuff serious
838
00:43:59,470 --> 00:44:01,597
'cause I don't know
how to do anything else.
839
00:44:01,680 --> 00:44:05,267
And two, I need to get on my grind
because right now,
840
00:44:05,351 --> 00:44:07,019
there's no money coming in.
841
00:44:07,102 --> 00:44:09,104
[tense music plays]
842
00:44:09,772 --> 00:44:12,024
He brought me back down to earth. "Okay.
843
00:44:12,107 --> 00:44:16,236
If I don't do those two things,
then they can look real scary real soon."
844
00:44:22,034 --> 00:44:24,745
-[man talks indistinctly]
-[whistle blows]
845
00:44:27,623 --> 00:44:30,709
[Ro$$] My man being at training camp
is end all or be all.
846
00:44:30,793 --> 00:44:32,336
From a financial pressure.
847
00:44:33,462 --> 00:44:36,840
I'm tellin' Teez, "Bro, if you wanna
continue to live your lifestyle,
848
00:44:36,924 --> 00:44:38,258
you gotta make the team."
849
00:44:40,094 --> 00:44:41,512
At the same time, I'm like,
850
00:44:41,595 --> 00:44:43,889
"Bro, assume you don't make
the squad, what're we doing?"
851
00:44:45,265 --> 00:44:48,477
So you been lookin' good in terms
of setting up the brokerage account?
852
00:44:48,560 --> 00:44:51,480
Yeah, I set it up, but I was a little…
853
00:44:51,980 --> 00:44:55,526
I ain't putting no money in there yet.
It was a little frightening.
854
00:44:55,609 --> 00:45:01,365
It was a bunch of numbers,
and I seen Nasdaq, Apple, S&P 500.
855
00:45:02,074 --> 00:45:04,576
0.3%, I don't know.
I ain't do nothing yet.
856
00:45:04,660 --> 00:45:06,161
I set it up, but I ain't get too far.
857
00:45:06,245 --> 00:45:07,079
[Ro$$] That's a fact.
858
00:45:09,707 --> 00:45:11,875
Now most people be scared,
you know what I mean?
859
00:45:11,959 --> 00:45:14,378
But, you know,
we wanna make sure you get over that.
860
00:45:14,461 --> 00:45:18,215
-Right.
-Take your investing virginity. Let's go.
861
00:45:18,298 --> 00:45:22,970
So the best step that we're going to do
is obviously buy two index funds, right?
862
00:45:23,053 --> 00:45:26,974
So you got the S&P 500,
and we're going to do the Nasdaq, right?
863
00:45:27,057 --> 00:45:29,268
So how much you say
you want to start with?
864
00:45:29,351 --> 00:45:30,728
-[Ro$$] If I'm you?
-Yeah.
865
00:45:30,811 --> 00:45:33,981
I'm starting with ten racks,
then you'll hold it. I ain't gonna lie.
866
00:45:34,064 --> 00:45:37,443
I'mma just start with 1,000
just to get my feet wet.
867
00:45:37,526 --> 00:45:41,905
Get your feet wet! If it were me,
I'd be putting another zero on that boy!
868
00:45:41,989 --> 00:45:44,742
-You tryin' to get me some money!
-And you're gonna hold it.
869
00:45:44,825 --> 00:45:46,827
-So now, here's the thing. Right?
-Mm-hmm.
870
00:45:47,369 --> 00:45:50,330
-And if I'm you, in all honesty, right?
-[Teez] Okay.
871
00:45:50,414 --> 00:45:53,292
The biggest thing is
this frequency button.
872
00:45:53,375 --> 00:45:56,170
Now I'm recommending
setting it up monthly.
873
00:45:56,253 --> 00:45:57,880
You won't have to think about it.
874
00:45:57,963 --> 00:46:00,424
-[Teez] I should put it every month.
-[Ro$$] Yeah, I would.
875
00:46:00,507 --> 00:46:04,303
Just like every month, you paying
the car note or the mortgage payments,
876
00:46:04,386 --> 00:46:08,307
you pay your e-trade next,
or actually you pay your e-trade first.
877
00:46:08,390 --> 00:46:10,976
So when you say, "Man,
I just want to get my feet wet"
878
00:46:11,059 --> 00:46:13,228
and only put a stack in, 1,000,
879
00:46:13,312 --> 00:46:15,939
what's making you say
I don't want to put a lot more in?
880
00:46:16,023 --> 00:46:19,735
Uh, 'cause I don't--
It's new, you know what I'm saying?
881
00:46:19,818 --> 00:46:24,281
It's so new that I don't want to…
I guess I don't want to fail or mess up.
882
00:46:24,364 --> 00:46:25,199
Mm-hmm.
883
00:46:25,282 --> 00:46:27,785
Most people are going to be hesitant
to do something
884
00:46:27,868 --> 00:46:31,497
when they don't know much about it.
They think, "I might lose money."
885
00:46:31,580 --> 00:46:36,001
But when you really realize
you losing money by not doing it,
886
00:46:36,084 --> 00:46:37,795
it's really the biggest like…
887
00:46:38,295 --> 00:46:43,091
Your bank account probably
is gonna give you, if you lucky, .06%.
888
00:46:43,175 --> 00:46:44,885
-So in other words, no money.
-None.
889
00:46:44,968 --> 00:46:48,263
By holding your money purely, right,
890
00:46:48,347 --> 00:46:52,559
you're losing the value of your money
because of something called inflation.
891
00:46:52,643 --> 00:46:56,605
And what I mean by inflation
is the rising prices of goods over time.
892
00:46:57,648 --> 00:47:00,692
Remember when we was kids, bro?
We could literally go to the corner store
893
00:47:00,776 --> 00:47:02,069
with a dollar, right?
894
00:47:02,152 --> 00:47:03,737
We could get four bags of chips.
895
00:47:03,821 --> 00:47:07,241
We could get some penny candy.
We could get 50-cent Zebra Cakes, right?
896
00:47:07,324 --> 00:47:08,867
Now with that same dollar,
897
00:47:08,951 --> 00:47:12,496
bro, you lucky to get one bag of chips
and a ten-cent bag to put it in.
898
00:47:14,122 --> 00:47:16,375
So the price of everything will go up.
899
00:47:16,458 --> 00:47:18,627
So it's like, okay, how can I ensure
900
00:47:18,710 --> 00:47:20,754
that my money still
going to be able to purchase
901
00:47:20,838 --> 00:47:22,548
what I want to be able to purchase?
902
00:47:22,631 --> 00:47:25,050
The only way you do that is by investing.
903
00:47:30,639 --> 00:47:32,641
[tense music plays]
904
00:47:34,184 --> 00:47:36,395
[Teez] If I would've did
what I was supposed to do
905
00:47:36,895 --> 00:47:40,065
with the money I had
when I first got drafted,
906
00:47:40,941 --> 00:47:43,193
it might be a different story
for me right now,
907
00:47:43,277 --> 00:47:47,197
just because my financial situation
would've been more smoother than it is.
908
00:47:51,034 --> 00:47:53,412
[commentator] As we get closer
to roster cut-down day,
909
00:47:53,495 --> 00:47:56,832
we'll keep a close eye on
all of the big moves the Bears might make.
910
00:47:56,915 --> 00:47:59,585
Every year, the 53-man roster cut-down day
911
00:47:59,668 --> 00:48:02,045
always brings some pretty big surprises.
912
00:48:02,129 --> 00:48:05,674
Overall it feels like
the 53's relatively set.
913
00:48:05,757 --> 00:48:10,846
So at this point,
it's just a matter of waiting things out.
914
00:48:12,556 --> 00:48:13,682
Hey, Mama.
915
00:48:14,558 --> 00:48:16,226
What are you doing, Daddy?
916
00:48:16,935 --> 00:48:18,896
Daddy's chillin'. Daddy just got off work.
917
00:48:18,979 --> 00:48:20,939
[woman] So, any… any word?
918
00:48:21,023 --> 00:48:23,275
[inhales deeply] No, not yet.
919
00:48:23,358 --> 00:48:25,444
I should know something before Labor Day.
920
00:48:25,986 --> 00:48:26,862
[woman] Okay.
921
00:48:26,945 --> 00:48:30,991
[Teez] Now that I'm 25,
hopefully by the time I'm 45,
922
00:48:31,074 --> 00:48:32,743
that same energy,
923
00:48:32,826 --> 00:48:36,371
that same knowledge,
that same passion I put into football,
924
00:48:36,455 --> 00:48:39,458
if I can get my stocks and my investments
925
00:48:39,541 --> 00:48:42,836
and my financial stuff straight
from 25 to 45,
926
00:48:43,629 --> 00:48:45,422
at 45, I should be set up.
927
00:48:45,505 --> 00:48:48,175
[woman and girl talk indistinctly]
928
00:48:57,809 --> 00:48:59,895
-[exhales]
-[computer chimes]
929
00:49:00,479 --> 00:49:01,480
[Ariana] Hi!
930
00:49:01,563 --> 00:49:03,231
Hi, Ariana! How are you?
931
00:49:03,315 --> 00:49:04,691
Good. How are you?
932
00:49:04,775 --> 00:49:05,943
I'm good. I'm good. I'm good.
933
00:49:06,026 --> 00:49:08,987
How's the homework going?
Like, you know, talk to me.
934
00:49:09,071 --> 00:49:11,740
The homework, I think, went well.
935
00:49:12,407 --> 00:49:15,118
The separate accounts
has been really, really helpful so far
936
00:49:15,202 --> 00:49:16,912
because I don't have to think
about anything.
937
00:49:17,496 --> 00:49:20,582
The minute my check is released,
it goes into these different funnels
938
00:49:20,666 --> 00:49:22,584
and, like, I only carry the card
939
00:49:22,668 --> 00:49:25,212
that is associated
with my spending account.
940
00:49:25,295 --> 00:49:28,090
So, any more major or even minor changes
941
00:49:28,173 --> 00:49:31,009
that you found yourself making
as it relates to your money?
942
00:49:32,094 --> 00:49:34,930
The "need it, love it,
like it, want it," um,
943
00:49:35,013 --> 00:49:39,393
has that made me… stop a purchase?
944
00:49:40,268 --> 00:49:44,022
I don't think so,
but it's making me pause at least.
945
00:49:44,106 --> 00:49:48,151
The fact that you are
celebrating the awareness,
946
00:49:48,235 --> 00:49:50,862
you know, I'm proud of you.
I know we have a lot of work to do,
947
00:49:50,946 --> 00:49:54,199
and we're going to get to it,
but you're doing it! You're doing it.
948
00:49:54,282 --> 00:49:56,118
-I promise you, you are.
-Thanks.
949
00:49:56,201 --> 00:50:00,747
[sad music plays]
950
00:50:02,207 --> 00:50:04,001
[Ariana] I know I'm making progress,
951
00:50:04,084 --> 00:50:07,838
and I know that I'm working my butt off
to pay off all this credit card debt.
952
00:50:09,214 --> 00:50:13,010
At its peak, I think it was like $65,000.
953
00:50:14,136 --> 00:50:16,138
I feel like I'm like halfway done.
954
00:50:16,638 --> 00:50:19,558
I'll put that right there.
Actually, it's perfect. It fits.
955
00:50:20,684 --> 00:50:24,062
But I still hold so much guilt
and shame over it.
956
00:50:26,565 --> 00:50:29,401
Getting over those feelings,
957
00:50:30,694 --> 00:50:34,698
I think, is where I need to…
to focus on almost,
958
00:50:36,324 --> 00:50:38,827
because that's where
I feel the most stuck.
959
00:50:41,496 --> 00:50:44,291
[Tiffany] Shame is one of
the worst emotions because it doesn't say,
960
00:50:44,374 --> 00:50:46,209
"You made a mistake."
961
00:50:46,293 --> 00:50:47,753
It says, "You are a mistake."
962
00:50:47,836 --> 00:50:51,757
and it keeps you in bondage.
It shields you from solutions.
963
00:50:56,011 --> 00:50:59,222
If you are
constantly afraid of your money,
964
00:51:00,265 --> 00:51:04,186
that is going to negatively affect
the way you navigate with money.
965
00:51:06,104 --> 00:51:09,357
If you are someone
who has this awesome money mindset
966
00:51:09,441 --> 00:51:11,151
of abundance and growth,
967
00:51:11,818 --> 00:51:15,322
then that is going to affect the way
your money shows up in your life.
968
00:51:16,281 --> 00:51:20,202
Your money will never do better
than what your mindset will allow.
969
00:51:20,952 --> 00:51:22,954
I got you! [mimics water splash]
970
00:51:24,122 --> 00:51:26,750
[Ariana] It makes me feel like
a bad partner,
971
00:51:27,793 --> 00:51:29,211
like a bad mom,
972
00:51:29,753 --> 00:51:31,296
that my past decisions
973
00:51:32,130 --> 00:51:34,174
are affecting my family so much.
974
00:51:38,178 --> 00:51:41,973
The fact that I'm paying more
than $2,000 a month in debt is ridiculous.
975
00:51:42,057 --> 00:51:44,059
It's half of my take-home pay.
976
00:51:46,978 --> 00:51:49,397
There's so many experiences
I want to give my kids
977
00:51:49,481 --> 00:51:50,899
that I'm not able to.
978
00:51:53,527 --> 00:51:55,904
And you work so hard, and you're trying…
979
00:51:59,241 --> 00:52:01,576
to make like a better life
for your family.
980
00:52:04,121 --> 00:52:07,999
If I didn't have these huge debt payments,
981
00:52:09,334 --> 00:52:11,670
there'd just be a lot more flexibility.
982
00:52:12,671 --> 00:52:14,840
Si! Si! Yeah!
983
00:52:15,507 --> 00:52:16,341
Oh, she's ready--
984
00:52:16,424 --> 00:52:19,928
We would be able to afford a house
with, you know, four bedrooms.
985
00:52:20,011 --> 00:52:21,555
You know, something as simple as that.
986
00:52:23,473 --> 00:52:25,183
-[kid] Bye!
-[man] Bye!
987
00:52:25,267 --> 00:52:28,061
[Ariana] My husband probably
wouldn't have to work overtime every week.
988
00:52:28,145 --> 00:52:29,521
Say "Bye, Papi!"
989
00:52:31,064 --> 00:52:35,318
And I'm living on a month-to-month basis
with the fear that my car will break down.
990
00:52:38,113 --> 00:52:40,365
There's like, 140,000 miles on it.
991
00:52:40,448 --> 00:52:43,034
-[car engine starts]
-[car beeps]
992
00:52:43,118 --> 00:52:45,412
If my car were to break down,
993
00:52:47,455 --> 00:52:50,083
I don't know how we would buy another one.
994
00:52:54,629 --> 00:52:55,505
Yeah.
995
00:53:00,093 --> 00:53:02,721
[car engine revving]
996
00:53:06,224 --> 00:53:07,475
[John] Oh!
997
00:53:10,437 --> 00:53:14,941
So we are at the Costco parking lot
in beautiful park-like Superior, Colorado,
998
00:53:15,775 --> 00:53:17,319
and I'm kinda excited to meet John here.
999
00:53:17,402 --> 00:53:19,613
See if we could teach this young man
how to grocery shop.
1000
00:53:20,989 --> 00:53:24,075
He wasn't familiar with Costco,
so he was comparing everything
1001
00:53:24,159 --> 00:53:26,494
to their previous levels of spending.
1002
00:53:27,162 --> 00:53:28,955
This is half the cost
of what we usually get,
1003
00:53:29,039 --> 00:53:30,498
but we'll have to grind it ourselves.
1004
00:53:30,582 --> 00:53:31,833
That makes it better.
1005
00:53:32,334 --> 00:53:35,462
That is significantly cheaper
than a shredded bag.
1006
00:53:38,924 --> 00:53:41,384
[Pete] I think we did
a $400 shopping trip there,
1007
00:53:41,468 --> 00:53:45,972
but it's the equivalent of $800 to $1,000
of their previous grocery spending.
1008
00:53:46,056 --> 00:53:47,724
I want this one!
1009
00:53:47,807 --> 00:53:50,227
[John] I don't know
if we need these dog toys.
1010
00:53:50,310 --> 00:53:51,645
[girl laughs]
1011
00:53:51,728 --> 00:53:52,854
[John] What did you find?
1012
00:53:53,939 --> 00:53:56,816
[Pete] The basic idea is bulk pricing,
1013
00:53:56,900 --> 00:53:58,777
which means lower markups.
1014
00:53:58,860 --> 00:54:01,571
So, really,
it's cutting your cost per calorie.
1015
00:54:01,655 --> 00:54:05,242
It's also allowing you to make
bigger meals for your family super cheap.
1016
00:54:08,203 --> 00:54:09,079
[John] Thank you!
1017
00:54:11,998 --> 00:54:14,793
So, uh, how do you think
we're doing so far
1018
00:54:14,876 --> 00:54:19,714
with us being, like, you know,
a couple months into our little program
1019
00:54:19,798 --> 00:54:21,716
of trying to optimize your life?
1020
00:54:21,800 --> 00:54:25,553
We think that we cut about $3,000.
1021
00:54:30,016 --> 00:54:35,772
So $3,000 per month is now cut off
of your expected future budget?
1022
00:54:35,855 --> 00:54:36,815
-Yeah.
-Yes.
1023
00:54:36,898 --> 00:54:39,150
Now if you really did that,
that's… that's pretty serious
1024
00:54:39,234 --> 00:54:42,862
'cause that's like
an entire family's budget…
1025
00:54:42,946 --> 00:54:44,990
-Very true.
-…is now shaved off of your budget.
1026
00:54:45,073 --> 00:54:47,617
-Yeah.
-We dropped groceries down to $1,000.
1027
00:54:47,701 --> 00:54:51,121
Basically the Amazon shopping
fell to $168.
1028
00:54:51,204 --> 00:54:54,165
-That's quite a drop.
-Yeah, it was quite a drop.
1029
00:54:54,249 --> 00:54:56,835
Dining and drinks,
we didn't go out as much.
1030
00:54:56,918 --> 00:55:00,088
Presumably, this surplus is
going somewhere into investments.
1031
00:55:00,171 --> 00:55:02,632
So yeah, index fund, stock investments.
1032
00:55:02,716 --> 00:55:03,591
Yeah.
1033
00:55:03,675 --> 00:55:08,054
So have you felt it's been like
a harmonious process as a couple,
1034
00:55:08,138 --> 00:55:11,141
or have you felt
some of the typical stress?
1035
00:55:11,224 --> 00:55:14,352
Um, has it been a uniting
or a dividing force?
1036
00:55:14,978 --> 00:55:17,272
-Ultimately uniting.
-[both laugh]
1037
00:55:17,355 --> 00:55:19,566
But yeah, for sure, dividing a little bit.
1038
00:55:19,649 --> 00:55:22,319
There was that solid week there.
1039
00:55:22,986 --> 00:55:26,281
-Where I went into food-saver mode.
-Yeah.
1040
00:55:27,198 --> 00:55:30,368
Where you're like, "Everything in
the fridge has to be eaten,"
1041
00:55:30,452 --> 00:55:33,038
but it definitely stirred up
some conflict.
1042
00:55:34,831 --> 00:55:37,834
[Pete] Frugality is sometimes
a dirty word in the United States,
1043
00:55:37,917 --> 00:55:41,588
but the idea is that a millionaire
is made $10 at a time.
1044
00:55:41,671 --> 00:55:47,510
$10 are like bricks in your castle
of becoming a millionaire.
1045
00:55:47,594 --> 00:55:50,305
Eventually, the idea of that
is just to discourage people
1046
00:55:50,388 --> 00:55:52,015
from just making impulse purchases.
1047
00:55:52,098 --> 00:55:54,017
Like, "Oh, I'm walking past
an ice cream stand
1048
00:55:54,100 --> 00:55:56,644
so I'll just buy
a couple ice cream cones for $10."
1049
00:55:56,728 --> 00:55:58,897
That can happen four times a day.
1050
00:55:58,980 --> 00:56:02,734
So $40 a day becomes $10,000 over a year,
1051
00:56:02,817 --> 00:56:04,944
just vaporized
with nothing to show for it.
1052
00:56:06,404 --> 00:56:10,200
So have you gotten into
any spreadsheet projections,
1053
00:56:10,283 --> 00:56:12,869
where you could have enough
to be financially independent?
1054
00:56:12,952 --> 00:56:15,330
I made a spreadsheet
based on what you were telling me,
1055
00:56:15,413 --> 00:56:19,376
where the 25 X your annual spending
1056
00:56:19,459 --> 00:56:21,252
is your FIRE number.
1057
00:56:22,879 --> 00:56:25,215
[Pete] Lots of people are using
the term FIRE,
1058
00:56:25,298 --> 00:56:28,968
which stands for
"financial independence retire early."
1059
00:56:29,052 --> 00:56:31,554
For me, I just call it early retirement.
1060
00:56:31,638 --> 00:56:36,226
The FIRE number just means
how much invested money do you need
1061
00:56:36,309 --> 00:56:38,561
to fund your desired lifestyle?
1062
00:56:38,645 --> 00:56:42,315
So your main idea is
you would like to have a retirement budget
1063
00:56:42,399 --> 00:56:46,361
of $9,000 per month, right?
1064
00:56:46,444 --> 00:56:49,197
-Yeah.
-Which is, times 12, $108,000 a year.
1065
00:56:49,280 --> 00:56:50,115
[John] Mm-hmm.
1066
00:56:50,198 --> 00:56:54,536
If you multiply that by 25,
you'd need a little over, uh, 2 million,
1067
00:56:54,619 --> 00:56:56,329
-2.5 million dollars…
-Yeah.
1068
00:56:56,413 --> 00:56:57,956
…of investments to cover that.
1069
00:56:58,039 --> 00:57:02,085
How long would it take you
to save up to that level
1070
00:57:02,168 --> 00:57:05,755
under your current plan
of earning and spending?
1071
00:57:05,839 --> 00:57:08,508
By 2042.
1072
00:57:08,591 --> 00:57:12,762
So Year 21, we would hit our FIRE number.
1073
00:57:14,139 --> 00:57:17,267
[Pete] I see. So you're thinking
it would be 21 years…
1074
00:57:17,350 --> 00:57:19,727
-Yeah.
-…until financial independence.
1075
00:57:19,811 --> 00:57:22,480
-Which is not an early retirement.
-Yeah, but this it not--
1076
00:57:22,564 --> 00:57:24,732
-[laughs] It is not an early retirement.
-[laughs] No.
1077
00:57:24,816 --> 00:57:26,860
But if I continue to grow my business,
1078
00:57:26,943 --> 00:57:30,363
and I really hustled
for the next five years,
1079
00:57:30,447 --> 00:57:34,909
like, we could… we found
that we could retire in like, five years.
1080
00:57:34,993 --> 00:57:36,786
-[John] Yeah.
-[Kim] It really just depends on
1081
00:57:36,870 --> 00:57:39,205
how much we want to hustle
1082
00:57:39,289 --> 00:57:42,500
versus, like, create time for our family.
1083
00:57:43,376 --> 00:57:45,336
How we want to spend our money,
all of that.
1084
00:57:45,420 --> 00:57:47,881
If you make a big change,
we'll adjust the spreadsheet,
1085
00:57:47,964 --> 00:57:49,215
and then stuff'll look better.
1086
00:57:49,299 --> 00:57:50,467
-[Kim] Great.
-Yeah.
1087
00:57:50,550 --> 00:57:51,968
[upbeat music plays]
1088
00:57:52,051 --> 00:57:54,512
-Oh, nice foot pedal!
-[boy] Yeah.
1089
00:57:54,596 --> 00:57:56,014
[Pete] I think the only roadblock
1090
00:57:56,097 --> 00:57:59,809
is that they still have
quite a high baseline of spending
1091
00:57:59,893 --> 00:58:01,436
even after making some changes.
1092
00:58:02,395 --> 00:58:03,354
You got this!
1093
00:58:03,855 --> 00:58:06,191
[Pete] Like they still spend about twice
1094
00:58:06,274 --> 00:58:08,943
what I would think is a reasonable maximum
1095
00:58:09,027 --> 00:58:10,403
for a family of four.
1096
00:58:10,987 --> 00:58:14,073
I kind of wish we could get them
a little more hardcore.
1097
00:58:16,326 --> 00:58:18,328
[upbeat music ends]
1098
00:58:26,085 --> 00:58:27,545
[exhales]
1099
00:58:29,005 --> 00:58:29,881
[inhales]
1100
00:58:30,632 --> 00:58:35,094
So, I know that I had mentioned
to everyone previously
1101
00:58:35,929 --> 00:58:38,431
I struggle with anxiety and depression.
1102
00:58:38,515 --> 00:58:41,476
[sad music plays]
1103
00:58:44,354 --> 00:58:45,980
I don't know why I get like this.
1104
00:58:46,064 --> 00:58:50,985
I don't know why I get all excited
about things at first,
1105
00:58:51,069 --> 00:58:54,781
and it seems so possible,
and I was making such good progress.
1106
00:58:54,864 --> 00:58:57,158
And then something… [sobs]
1107
00:58:57,242 --> 00:58:59,244
…just tells me I'm not good enough.
1108
00:59:02,121 --> 00:59:05,792
[inhales] And that's one of
the main reasons that
1109
00:59:07,043 --> 00:59:09,671
I really, really want
to get health insurance
1110
00:59:09,754 --> 00:59:14,509
and get myself someone I can talk to
because I found that the only thing
1111
00:59:14,592 --> 00:59:19,639
that really helps, um,
is having consistent therapy.
1112
00:59:22,725 --> 00:59:24,811
Right now, it's really hard to tell
1113
00:59:25,687 --> 00:59:31,442
what are legitimate money worries
and what is just in my head.
1114
00:59:38,449 --> 00:59:42,495
[sportscaster 1] The Chicago Bears'
53-man roster is set!
1115
00:59:42,579 --> 00:59:46,457
[sportscaster 2] Right now, Teez Tabor is
weak and slow. Not a good look for--
1116
00:59:46,541 --> 00:59:48,501
[sportscaster 3]
Teez Tabor cannot play cornerback.
1117
00:59:48,585 --> 00:59:50,169
Certainly can't play it in the system…
1118
00:59:50,253 --> 00:59:51,921
[sportscaster 4]
Teez Tabor bounced around.
1119
00:59:52,005 --> 00:59:54,799
Now he sticks around with the Bears
on the practice squad.
1120
00:59:56,050 --> 00:59:58,553
[screen chimes]
1121
01:00:05,435 --> 01:00:06,519
[exhales]
1122
01:00:07,604 --> 01:00:09,272
[breathes deeply]
1123
01:00:09,355 --> 01:00:12,150
Just got back from, uh, the facility.
1124
01:00:12,734 --> 01:00:14,485
Got some good and bad news.
1125
01:00:15,028 --> 01:00:18,072
Feelin' a little bummed
about the news. Um…
1126
01:00:20,199 --> 01:00:24,454
I didn't make the 53-man roster,
but they want me back on practice squad.
1127
01:00:25,371 --> 01:00:26,873
So it's good and bad.
1128
01:00:26,956 --> 01:00:29,000
Um, not feeling too good
1129
01:00:29,083 --> 01:00:31,961
about, you know,
the position that I'm in right now,
1130
01:00:32,045 --> 01:00:35,423
but there's more opportunity
out there for me,
1131
01:00:35,506 --> 01:00:37,258
so just gotta keep grinding.
1132
01:00:43,056 --> 01:00:45,433
Okay, so this is going to be
a really quick update
1133
01:00:45,516 --> 01:00:49,395
because so much has happened
and I'm in the middle of work. Um…
1134
01:00:50,271 --> 01:00:55,193
[clicks tongue] So…
my car broke down yesterday.
1135
01:00:58,363 --> 01:00:59,572
Andrew's currently--
1136
01:00:59,656 --> 01:01:00,865
Thank God he's a mechanic.
1137
01:01:00,948 --> 01:01:02,742
He's currently working on it.
1138
01:01:02,825 --> 01:01:05,036
He has bought me a new alternator,
1139
01:01:05,119 --> 01:01:07,580
a new radiator, a new battery.
1140
01:01:08,706 --> 01:01:12,251
All I was thinking
is that I hope that it's fixable.
1141
01:01:12,335 --> 01:01:13,336
[car engine starts]
1142
01:01:13,419 --> 01:01:14,921
-[Andrew] Done!
-Thank you!
1143
01:01:15,004 --> 01:01:17,590
'Cause I can't afford
a car payment right now
1144
01:01:17,674 --> 01:01:20,426
and I don't have enough money saved up
to buy a car outright.
1145
01:01:30,228 --> 01:01:31,396
[sighs] Okay.
1146
01:01:32,188 --> 01:01:36,067
More updates about things.
1147
01:01:37,068 --> 01:01:39,237
I think we, like, landed in this process
1148
01:01:39,320 --> 01:01:41,614
at a really transitional point
in our lives
1149
01:01:41,698 --> 01:01:44,534
where we're going from struggling to save
1150
01:01:44,617 --> 01:01:47,412
to finally getting to a place
where we might actually save money.
1151
01:01:47,995 --> 01:01:50,873
You know what I would love to have
is like a conservative…
1152
01:01:51,958 --> 01:01:53,751
-[John] Yeah.
-…or best-case scenario.
1153
01:01:53,835 --> 01:01:58,464
Yeah, if we do that,
then we still have to save 136.
1154
01:01:58,548 --> 01:02:01,467
You're supposed to be saving
50% of your income
1155
01:02:01,551 --> 01:02:03,469
if you want to retire early,
1156
01:02:03,553 --> 01:02:05,888
but we're not coming
anywhere close to that.
1157
01:02:05,972 --> 01:02:08,725
So that feels like
a huge challenge for us.
1158
01:02:22,572 --> 01:02:27,285
[Lindsey] I'd be lying if I said
I no longer got down on myself sometimes.
1159
01:02:28,077 --> 01:02:32,498
Adjusting to being my own boss
and that mental shift
1160
01:02:32,582 --> 01:02:34,876
has been a lot for me.
1161
01:02:34,959 --> 01:02:39,964
However, if and when
I do get in these modes again,
1162
01:02:40,047 --> 01:02:43,926
I reassure myself, "Look,
you were able to make this happen."
1163
01:02:44,010 --> 01:02:47,054
"There's no reason
that you can't do what's ahead of you."
1164
01:02:51,267 --> 01:02:52,101
[Paula] All right.
1165
01:02:52,810 --> 01:02:53,895
How's the hustle?
1166
01:02:53,978 --> 01:02:55,813
Where do I even start?
1167
01:02:55,897 --> 01:02:58,399
The major one that I'm super excited about
1168
01:02:58,483 --> 01:03:01,652
-was signing a deal to do a mural project.
-Uh-huh.
1169
01:03:02,945 --> 01:03:06,657
[Lindsey] So it's 11, uh, concrete pylons,
1170
01:03:06,741 --> 01:03:10,328
and they want me to paint
an abstract background
1171
01:03:10,411 --> 01:03:13,915
and then paint characters
on all of the pylons.
1172
01:03:13,998 --> 01:03:16,417
-[Paula] Eleven? That's a big project!
-[Lindsey] It is!
1173
01:03:16,501 --> 01:03:21,506
And because it's a big project,
I drafted out an entire plan
1174
01:03:21,589 --> 01:03:24,383
of how much materials were gonna cost.
1175
01:03:24,467 --> 01:03:28,721
I did my research, and I looked into
how much mural artists make.
1176
01:03:28,805 --> 01:03:32,266
So, I was able to get my bosses
to agree to 3,500.
1177
01:03:32,350 --> 01:03:33,351
-Wow.
-[Lindsey] Yeah.
1178
01:03:33,434 --> 01:03:34,435
It's not bad at all.
1179
01:03:34,519 --> 01:03:37,855
I could definitely see myself
doing this professionally.
1180
01:03:38,815 --> 01:03:41,150
And when I think about it,
that's one of the reasons
1181
01:03:41,234 --> 01:03:45,571
that I moved to Austin in the first place.
I fell in love with Austin's murals.
1182
01:03:45,655 --> 01:03:48,366
So I thought, you know,
maybe one day I can figure out
1183
01:03:48,449 --> 01:03:52,703
how to make it into this business,
and it's finally happening.
1184
01:03:52,787 --> 01:03:53,996
[Paula] That's awesome!
1185
01:03:54,872 --> 01:03:57,667
So the other big thing, um,
1186
01:03:57,750 --> 01:04:01,379
one of my regulars at work, he owns
his own independent fashion company.
1187
01:04:01,462 --> 01:04:04,298
And he hasn't been able
to keep up with the demand.
1188
01:04:04,382 --> 01:04:06,884
I was serving him beer,
then I lean in and I go,
1189
01:04:07,385 --> 01:04:09,554
"You know I went
to fashion school, right?"
1190
01:04:10,847 --> 01:04:13,599
-[man] Hey! What's up? Good to see you.
-Hey! Good to see you.
1191
01:04:14,183 --> 01:04:16,853
[man] We've got some really awesome stuff
that we're working on.
1192
01:04:16,936 --> 01:04:20,439
We've been assembling
and doing, uh, the jackets and whatnot.
1193
01:04:21,315 --> 01:04:23,442
We have these right here for you
you can start on.
1194
01:04:23,526 --> 01:04:24,360
Okay.
1195
01:04:25,695 --> 01:04:27,947
I started crying a little bit
because I realized
1196
01:04:28,030 --> 01:04:32,493
I'm finally doing something
with the skills I went to school for.
1197
01:04:32,577 --> 01:04:35,913
So I really see
a future with this company.
1198
01:04:36,497 --> 01:04:39,333
-Complete that. I'll set this here.
-Appreciate it.
1199
01:04:41,043 --> 01:04:43,838
[Paula] The mindset that you have
where you're like,
1200
01:04:43,921 --> 01:04:47,466
"I'm surrounded by opportunity."
"I'm surrounded by abundance."
1201
01:04:47,550 --> 01:04:51,429
That mentality speaks a lot
to the success that you've had.
1202
01:04:51,512 --> 01:04:54,348
[Lindsey] You've really got me
into this hustler mentality and I love it.
1203
01:04:54,432 --> 01:04:58,686
I feel like I'm always networking.
I'm always looking for opportunities now.
1204
01:04:58,769 --> 01:05:00,354
-[Paula] Awesome.
-[Lindsey] Yeah.
1205
01:05:03,733 --> 01:05:04,692
[dings]
1206
01:05:04,775 --> 01:05:07,153
How is your side hustle income adding up?
1207
01:05:07,695 --> 01:05:11,073
So, with the mural project
that I've started,
1208
01:05:11,157 --> 01:05:13,451
-I got 35% down…
-Mm-hmm.
1209
01:05:13,534 --> 01:05:17,538
…so I add that up with the things
that I got from the market.
1210
01:05:18,456 --> 01:05:21,959
And I keep getting dog-sitting stuff,
just sporadically.
1211
01:05:22,043 --> 01:05:26,547
-[Paula] Yeah.
-[Lindsey] And I've saved about 2,800.
1212
01:05:26,631 --> 01:05:27,882
[Paula] Wow, that's amazing.
1213
01:05:28,466 --> 01:05:29,383
That's amazing.
1214
01:05:29,467 --> 01:05:32,762
[Lindsey] I can't remember the last time
I had this much money saved up.
1215
01:05:32,845 --> 01:05:35,932
I know it's a small amount,
but it's more the principle of,
1216
01:05:36,015 --> 01:05:37,808
"I was able to get to this point."
1217
01:05:37,892 --> 01:05:40,770
Your creative career is, like, growing.
1218
01:05:40,853 --> 01:05:44,649
You know, just from the beginning
of this journey to now, it's-- Pssh!
1219
01:05:45,691 --> 01:05:49,445
There's Lindsey Incorporated,
and that's your business,
1220
01:05:49,528 --> 01:05:52,490
and then there's Lindsey the individual,
and that's you.
1221
01:05:52,573 --> 01:05:55,117
-So here is my suggestion.
-Okay.
1222
01:05:55,201 --> 01:05:57,370
Open a brand-new bank account
1223
01:05:57,453 --> 01:06:00,706
that's automated specifically
for all of your business income.
1224
01:06:00,790 --> 01:06:05,002
Everything that comes in through all
of your creative career projects,
1225
01:06:05,586 --> 01:06:08,047
have it go directly to that bank account.
1226
01:06:08,130 --> 01:06:12,051
When it's time to file your taxes,
it'll be easier to spot deductions.
1227
01:06:12,134 --> 01:06:16,889
It puts Lindsey Incorporated
in a position to grow financially,
1228
01:06:16,973 --> 01:06:20,601
and it makes you legit
from a lending and credit perspective.
1229
01:06:20,685 --> 01:06:23,562
And imagine billing
one of your new mural clients
1230
01:06:23,646 --> 01:06:24,897
from a business account.
1231
01:06:24,981 --> 01:06:28,192
It gives you instant credibility
as an entrepreneur.
1232
01:06:28,901 --> 01:06:31,112
That's, like, step one
1233
01:06:31,195 --> 01:06:34,824
of growing something
that is going to be bigger than just you.
1234
01:06:34,907 --> 01:06:36,117
That's so exciting.
1235
01:06:36,200 --> 01:06:38,202
[upbeat music plays]
1236
01:06:40,079 --> 01:06:45,292
[Lindsay] To me, what it means
to be finally doing something with art,
1237
01:06:45,376 --> 01:06:47,169
and this may sound hokey,
1238
01:06:47,253 --> 01:06:51,007
but it feels like something
I was meant to do.
1239
01:06:51,716 --> 01:06:55,386
It can be an uphill battle,
but I feel like I've got a good start.
1240
01:06:55,970 --> 01:06:59,974
I can see me
doing these things for a long time,
1241
01:07:00,057 --> 01:07:03,519
and after a while,
it is going to start adding up.
1242
01:07:05,229 --> 01:07:08,482
And that in itself is
the most gratifying thing in the world.
1243
01:07:13,154 --> 01:07:14,905
[upbeat music ends]
1244
01:07:16,532 --> 01:07:17,658
Hi. How you doin'?
1245
01:07:18,242 --> 01:07:19,452
[Teez] I see you got on--
1246
01:07:19,535 --> 01:07:21,495
[Ro$$] How you livin'?
You know I gotta come clean.
1247
01:07:21,579 --> 01:07:23,289
-How you been?
-I'm good. How are you?
1248
01:07:23,372 --> 01:07:25,166
[Ro$$] Man, I'm all good, man.
1249
01:07:26,333 --> 01:07:29,879
Catch me up in terms of kinda
where you at with the team and all that.
1250
01:07:29,962 --> 01:07:32,423
What exactly does the practice squad mean?
1251
01:07:32,506 --> 01:07:33,883
Practice squad is like,
1252
01:07:33,966 --> 01:07:39,680
"Okay, well, something happened
to somebody on our active roster."
1253
01:07:39,764 --> 01:07:41,891
"We need a guy that, you know,
we've been grooming."
1254
01:07:41,974 --> 01:07:45,603
"You know, a guy that knows our system
that we feel like can go play for us."
1255
01:07:45,686 --> 01:07:47,897
-[Ro$$] Mm-hmm.
-So that's what the practice squad is.
1256
01:07:47,980 --> 01:07:50,608
You do everything that active do.
1257
01:07:50,691 --> 01:07:51,859
-It's no different.
-Okay.
1258
01:07:51,942 --> 01:07:55,905
-Just on game day, you don't play.
-[Ro$$] Got you.
1259
01:07:55,988 --> 01:08:00,743
From a, like, finance standpoint, like,
how much do you make on the practice team?
1260
01:08:00,826 --> 01:08:03,079
So P squad, you get 10K a week.
1261
01:08:03,162 --> 01:08:04,622
Is that money guaranteed?
1262
01:08:04,705 --> 01:08:08,626
-Or you could technically get cut?
-Yeah. They can terminate you at any time.
1263
01:08:08,709 --> 01:08:09,919
Oh, wow.
1264
01:08:12,004 --> 01:08:15,049
-[screen whirring]
-[cash register clings]
1265
01:08:15,132 --> 01:08:17,551
The average person,
their earning potential is linear.
1266
01:08:17,635 --> 01:08:21,305
It goes up. You get wiser,
get a promotion, it keeps going.
1267
01:08:22,139 --> 01:08:24,433
-[exhales]
-[Ro$$] When it come to athletes,
1268
01:08:24,517 --> 01:08:28,104
their earning potential plateaus
before the age of 30,
1269
01:08:28,187 --> 01:08:29,772
and it just starts going down.
1270
01:08:29,855 --> 01:08:31,315
[grunting]
1271
01:08:31,398 --> 01:08:34,026
You need to start planning
for your last day, day one.
1272
01:08:42,034 --> 01:08:43,828
And now, you investing! Talk to me.
1273
01:08:43,911 --> 01:08:46,956
What questions you got for me?
You in the S&P and the Nasdaq, right?
1274
01:08:47,039 --> 01:08:49,208
-I bought two more too though.
-[Ro$$] What you got?
1275
01:08:49,291 --> 01:08:50,292
Apple and Facebook.
1276
01:08:51,544 --> 01:08:52,878
Couldn't have went better.
1277
01:08:52,962 --> 01:08:56,132
Yeah, I seen it, one day
I had went on the E-Trade app,
1278
01:08:56,215 --> 01:08:58,217
and, like, it was in red a little bit.
1279
01:08:59,176 --> 01:09:01,137
What happens if the S&P goes down?
1280
01:09:01,220 --> 01:09:03,556
It's not a "what if," it will go down.
1281
01:09:03,639 --> 01:09:05,891
-[Jeez] Oh.
-That's the thing you can be certain of.
1282
01:09:05,975 --> 01:09:07,852
Every day, it's a roller coaster.
1283
01:09:07,935 --> 01:09:09,770
It goes up sometimes. It goes down.
1284
01:09:09,854 --> 01:09:13,232
But the thing is that if it does go down,
don't panic.
1285
01:09:13,315 --> 01:09:16,694
Don't take your money out
because it's going to go back up.
1286
01:09:16,777 --> 01:09:20,948
Every month, we buying a little bit,
and you're gonna look back in five years
1287
01:09:21,448 --> 01:09:23,450
like, "Damn, I wish
I would have bought more!"
1288
01:09:23,534 --> 01:09:24,368
Mm-hmm.
1289
01:09:24,451 --> 01:09:27,454
I think you should pull, you know, upwards
of a thousand dollars every month.
1290
01:09:27,538 --> 01:09:29,248
-I'm saying more.
-That we can invest.
1291
01:09:29,331 --> 01:09:31,959
-More like five! Ten!
-[Ro$$] Yeah, five racks every month.
1292
01:09:34,712 --> 01:09:35,838
[dings]
1293
01:09:35,921 --> 01:09:38,841
Aight, so last time,
you only wanted to start with a G.
1294
01:09:38,924 --> 01:09:39,758
Mm-hmm.
1295
01:09:39,842 --> 01:09:42,511
And now you sayin' you down
to do like five racks a month. Why?
1296
01:09:42,595 --> 01:09:45,264
'Cause I see it's… it's good.
1297
01:09:45,347 --> 01:09:47,183
[both laugh]
1298
01:09:47,266 --> 01:09:51,395
I put 1,000 in there now,
my 1,000 is more than 1,000.
1299
01:09:51,478 --> 01:09:52,688
And I ain't do nothing.
1300
01:09:52,771 --> 01:09:54,356
As we continue to grow,
1301
01:09:54,440 --> 01:09:56,567
you gonna get
more and more comfortable with it.
1302
01:09:56,650 --> 01:09:59,278
And the money management. Right?
It's a lifestyle. Right?
1303
01:09:59,361 --> 01:10:01,572
And I think you gonna get adapted to it
1304
01:10:01,655 --> 01:10:04,867
and start making way better,
sound financial decisions,
1305
01:10:04,950 --> 01:10:06,911
as well as great investments.
1306
01:10:14,210 --> 01:10:16,795
[Ariana] So, towing the car home,
1307
01:10:16,879 --> 01:10:19,924
plus all the car parts
is like $1200 altogether.
1308
01:10:20,007 --> 01:10:21,508
I was just like, "Okay."
1309
01:10:21,592 --> 01:10:25,429
Is the car fixed-fixed,
or is it like Band-Aid fixed?
1310
01:10:25,512 --> 01:10:26,555
[sighs]
1311
01:10:26,639 --> 01:10:30,976
It's fixed-fixed but feels like a Band-Aid
because the car is like a 2004.
1312
01:10:31,060 --> 01:10:33,145
-So I'm trying to save up some money…
-Okay.
1313
01:10:33,229 --> 01:10:35,231
…until I'm able
to put a down payment on something.
1314
01:10:35,314 --> 01:10:38,442
So an emergency came,
your worst-case fear emergency came,
1315
01:10:38,525 --> 01:10:40,152
but you handled it
1316
01:10:40,236 --> 01:10:43,572
because you had the money
flowing to your emergency account.
1317
01:10:43,656 --> 01:10:47,368
And let me tell you that your voice,
it's going in my head,
1318
01:10:47,451 --> 01:10:49,328
-"This is what the emergency fund is for."
-Yes.
1319
01:10:49,411 --> 01:10:52,831
"This is an emergency, it's okay.
Just spend the money."
1320
01:10:52,915 --> 01:10:54,875
Automation is the new discipline.
1321
01:10:54,959 --> 01:10:56,377
That calls for celebration.
1322
01:10:56,961 --> 01:11:00,881
So now let's talk about credit cards.
How many credit cards do you have now?
1323
01:11:00,965 --> 01:11:06,428
-One, two, three, four, five, six, seven…
-Okay.
1324
01:11:07,346 --> 01:11:11,934
One, two, three,
four, five, six, seven, eight.
1325
01:11:12,017 --> 01:11:14,228
-Okay.
-Nine if you count like, PayPal.
1326
01:11:14,311 --> 01:11:17,481
So what is going on your credit cards?
What do your swipes look like?
1327
01:11:17,564 --> 01:11:19,441
-Target is my nemesis.
-[Tiffany] Mm-hmm.
1328
01:11:19,525 --> 01:11:21,193
[clicks tongue]
Like it is with many people.
1329
01:11:21,277 --> 01:11:24,154
I've been doing a lot
of Whole Food deliveries.
1330
01:11:24,238 --> 01:11:25,823
-Because--
-[Tiffany] So food shopping.
1331
01:11:25,906 --> 01:11:27,074
[Ariana] Food shopping.
1332
01:11:32,037 --> 01:11:32,871
[dings]
1333
01:11:34,832 --> 01:11:35,874
[Tiffany] Here's the thing.
1334
01:11:35,958 --> 01:11:40,462
Every time you swipe your credit card,
you're literally taking out a loan.
1335
01:11:40,963 --> 01:11:45,676
So if you can't pay them off
in full every month, ask yourself,
1336
01:11:45,759 --> 01:11:51,098
"Do I want to spend an extra 16% on this?"
Because that's the average interest rate.
1337
01:11:52,933 --> 01:11:56,020
So I want you to make the shift
from spending from credit
1338
01:11:56,103 --> 01:11:57,563
to spending from checking.
1339
01:11:57,646 --> 01:11:58,480
Okay.
1340
01:11:58,564 --> 01:12:02,234
I want the next month
a no-credit-card-usage month.
1341
01:12:02,818 --> 01:12:04,528
You know,
'cause that's gonna be a reframe.
1342
01:12:04,611 --> 01:12:06,488
-Yeah.
-That's literally your word of the day,
1343
01:12:06,572 --> 01:12:08,032
to reframe.
1344
01:12:08,115 --> 01:12:08,991
Okay.
1345
01:12:09,700 --> 01:12:11,618
["Barcarolle" playing]
1346
01:12:43,400 --> 01:12:47,529
[Ariana] Can I get an iced
grande Americano, please?
1347
01:12:48,447 --> 01:12:51,325
[Tiffany] What I would really love
to see Ariana do with her credit cards
1348
01:12:51,408 --> 01:12:54,703
is to consistently pay them
every month in full.
1349
01:12:58,290 --> 01:13:00,626
I would like to see
that she honestly stops spending
1350
01:13:00,709 --> 01:13:02,086
from credit cards altogether,
1351
01:13:02,878 --> 01:13:06,507
that she leans into the money
that she has set aside for spending.
1352
01:13:08,634 --> 01:13:10,469
[Ariana] All right,
so I just got out of Target.
1353
01:13:11,678 --> 01:13:13,180
I stuck to my list.
1354
01:13:13,263 --> 01:13:15,432
Um, I only bought
a couple things for the kids,
1355
01:13:15,516 --> 01:13:17,101
and I paid with my debit card
1356
01:13:17,184 --> 01:13:19,895
even though that was
quite anxiety-producing.
1357
01:13:19,978 --> 01:13:22,773
But it's funny 'cause I know
there's enough money on my debit card
1358
01:13:22,856 --> 01:13:26,193
to cover whatever I bought.
I still didn't want to do it.
1359
01:13:27,861 --> 01:13:29,488
["Barcarolle" ends]
1360
01:13:34,743 --> 01:13:35,786
[boy mumbles]
1361
01:13:36,620 --> 01:13:38,288
[both laugh]
1362
01:13:38,372 --> 01:13:39,790
[boy mumbles]
1363
01:13:39,873 --> 01:13:42,960
[John] He was talking about pushing
the ball forward in the right direction.
1364
01:13:43,877 --> 01:13:44,711
The other one on top.
1365
01:13:44,795 --> 01:13:47,339
It feels like we did a lot
of the really simple things,
1366
01:13:47,423 --> 01:13:51,427
like less Amazon spending,
more conscious grocery shopping.
1367
01:13:51,510 --> 01:13:57,266
So we've decided to downsize
and sell our house here in Colorado.
1368
01:13:58,225 --> 01:14:00,227
[boy talks indistinctly]
1369
01:14:01,520 --> 01:14:04,773
[Kim] We can't reduce
our spending that much.
1370
01:14:04,857 --> 01:14:07,609
So the biggest expense
we have is our house.
1371
01:14:09,903 --> 01:14:14,450
Every year, our mortgage
on this house is like $36,000.
1372
01:14:14,533 --> 01:14:17,911
So if we can cut that in half,
1373
01:14:17,995 --> 01:14:20,164
we can invest that $18,000.
1374
01:14:20,747 --> 01:14:22,458
Also, when we downsize,
1375
01:14:22,541 --> 01:14:26,170
we can have
a short-term rental on that property
1376
01:14:26,253 --> 01:14:29,423
and hopefully pay for our new mortgage.
1377
01:14:31,008 --> 01:14:34,303
So we can definitely hit
our FIRE number way sooner
1378
01:14:34,970 --> 01:14:37,097
and then have a choice about work.
1379
01:14:40,100 --> 01:14:41,894
[Pete] If housing is expensive
where you live,
1380
01:14:41,977 --> 01:14:43,312
then you should be more efficient.
1381
01:14:43,395 --> 01:14:47,900
And you can really catapult yourself
to early retirement a lot earlier
1382
01:14:47,983 --> 01:14:49,985
if you're willing
to take such a bold step.
1383
01:14:53,238 --> 01:14:54,072
[dings]
1384
01:14:58,827 --> 01:15:01,663
[Pete] I guess the idea is
just having the house in good condition.
1385
01:15:02,164 --> 01:15:05,000
-So it looks nicer when you're selling it.
-[John] Exactly.
1386
01:15:05,584 --> 01:15:07,336
-[Pete] Okay, so the plan here--
-[John] Yeah.
1387
01:15:07,419 --> 01:15:09,630
We're gonna max
this area out with shelves.
1388
01:15:09,713 --> 01:15:10,547
[John] Yeah.
1389
01:15:10,631 --> 01:15:12,674
Starting with some 18s and then doing 15--
1390
01:15:12,758 --> 01:15:14,176
Actually 16s and 15s.
1391
01:15:14,259 --> 01:15:15,636
-All the way to the top.
-Okay.
1392
01:15:16,887 --> 01:15:20,265
[Pete] It often takes longer
to find a person like a contractor
1393
01:15:20,349 --> 01:15:22,059
to come help you with something.
1394
01:15:22,142 --> 01:15:24,686
Just do it yourself, build the skills.
1395
01:15:24,770 --> 01:15:26,396
It's incredibly satisfying.
1396
01:15:26,480 --> 01:15:29,483
And it just happens to save you
a shit-ton of money.
1397
01:15:29,566 --> 01:15:30,567
-Good enough.
-[exhales]
1398
01:15:31,276 --> 01:15:35,781
-At this point, we're gonna get serious.
-[laughs]
1399
01:15:35,864 --> 01:15:38,575
-I'm still cold. I'm gonna keep mine on.
-Yeah.
1400
01:15:40,702 --> 01:15:43,121
[John] Pete has
a lot of resources on frugality,
1401
01:15:43,205 --> 01:15:46,875
but our work with Pete has centered around
1402
01:15:46,959 --> 01:15:49,294
our mindset when it comes to money.
1403
01:15:50,170 --> 01:15:51,004
[Pete] Yeah.
1404
01:15:52,714 --> 01:15:54,299
[John] Pete's coaching has been
1405
01:15:55,175 --> 01:15:59,054
more about being deliberate
and responsible in your choices.
1406
01:15:59,137 --> 01:16:00,222
[saw whirring]
1407
01:16:00,305 --> 01:16:03,725
I think the main thing
we were learning from Pete
1408
01:16:03,809 --> 01:16:10,607
was to live our life
in a joyful, responsible way.
1409
01:16:10,691 --> 01:16:16,613
Like, I think his main message to us
has never been, "Only save money."
1410
01:16:16,697 --> 01:16:20,576
It's been, "Save money,
but also don't wait to live your life
1411
01:16:20,659 --> 01:16:22,703
and spend time with your kids."
1412
01:16:24,371 --> 01:16:26,248
[saw stops]
1413
01:16:33,088 --> 01:16:36,091
-[Lindsey] Should I get tortillas prepped?
-[man talks indistinctly]
1414
01:16:36,174 --> 01:16:38,719
Here. I'll start cutting an onion,
1415
01:16:38,802 --> 01:16:41,138
and then you can sauté them up.
1416
01:16:41,638 --> 01:16:42,639
[Lindsey] Okay.
1417
01:16:42,723 --> 01:16:45,100
-You want me to throw some butter in?
-[man] Yeah.
1418
01:16:47,019 --> 01:16:51,940
[Lindsey] So I've learned
a lot about food spending in this process.
1419
01:16:52,441 --> 01:16:57,070
We are not spending the money
we did before with take-out every night.
1420
01:16:58,071 --> 01:16:59,823
What are you doing?
1421
01:17:00,949 --> 01:17:04,036
-I'm cutting avocado. [chuckles]
-Okay.
1422
01:17:04,119 --> 01:17:07,122
[Lindsey] Getting away from Uber Eats
and ordering take-out,
1423
01:17:07,205 --> 01:17:12,377
I think that contributed a lot
to no longer being paycheck to paycheck.
1424
01:17:12,878 --> 01:17:15,672
That allowed me to actually save
1425
01:17:15,756 --> 01:17:18,842
the money that I was earning
through my art projects.
1426
01:17:18,925 --> 01:17:20,927
There is more breathing room.
1427
01:17:23,680 --> 01:17:26,975
Carey just got promoted
to head chef at his company.
1428
01:17:27,059 --> 01:17:29,102
They are offering him free healthcare.
1429
01:17:29,186 --> 01:17:34,191
And as his partner, I can get on
his healthcare for a small price.
1430
01:17:34,775 --> 01:17:37,152
So whenever I do get health insurance,
1431
01:17:37,235 --> 01:17:40,864
one of the primary things I want
to take care of has been mental health.
1432
01:17:40,947 --> 01:17:42,157
[Carey laughs]
1433
01:17:42,240 --> 01:17:44,743
I think therapy is always a good idea.
1434
01:17:45,243 --> 01:17:48,080
So I'm very anxious
to be getting started with that again.
1435
01:17:51,249 --> 01:17:53,001
While I have been painting,
1436
01:17:53,085 --> 01:17:55,796
the pylon project at Hop Squad
is kind of cool.
1437
01:17:55,879 --> 01:17:57,089
People will come up to me,
1438
01:17:57,172 --> 01:18:00,801
ask to take pictures,
and they'll ask for my business card.
1439
01:18:00,884 --> 01:18:03,720
I've had people tell me
they're looking for a fence
1440
01:18:03,804 --> 01:18:07,432
in their neighborhood painted
with a mural or little things like that.
1441
01:18:09,267 --> 01:18:12,062
So I've got a few leads that way.
1442
01:18:15,357 --> 01:18:18,652
Hop Squad really, really, really want
to support my art,
1443
01:18:18,735 --> 01:18:21,279
and they gave me this amazing opportunity
1444
01:18:21,363 --> 01:18:24,991
where I'm going to be doing art classes
once a month for them now.
1445
01:18:25,075 --> 01:18:28,120
You just have paint markers here.
They're very easy to use,
1446
01:18:28,203 --> 01:18:30,414
so you don't have to worry
about brush strokes.
1447
01:18:30,497 --> 01:18:31,456
And after you're done--
1448
01:18:31,540 --> 01:18:35,544
The best part of that too,
is whenever I do my art nights,
1449
01:18:35,627 --> 01:18:39,339
they want me to set up a booth
and set up my paintings for sale.
1450
01:18:41,967 --> 01:18:45,137
My entire goal was
to get out of the service industry,
1451
01:18:45,220 --> 01:18:47,764
and I feel like
I am actually planting roots
1452
01:18:47,848 --> 01:18:50,058
for my future, and it's flourishing.
1453
01:18:53,228 --> 01:18:55,063
When I started this process,
1454
01:18:55,147 --> 01:18:58,316
I didn't think I was
in the right place in life,
1455
01:18:58,817 --> 01:19:00,652
but I realized along the way,
1456
01:19:00,736 --> 01:19:04,030
once I started doing things that I love
1457
01:19:04,656 --> 01:19:08,994
and building something,
creating something from the bottom,
1458
01:19:10,245 --> 01:19:14,249
that is success to me now.
Success is happiness.
1459
01:19:20,088 --> 01:19:21,840
[crowd cheers]
1460
01:19:21,923 --> 01:19:24,426
[commentator] Been a pleasure.
Good evening, everybody walking in.
1461
01:19:24,509 --> 01:19:26,136
The Bears and Buccaneers in Tampa.
1462
01:19:33,310 --> 01:19:35,145
I just got some real good news.
1463
01:19:35,645 --> 01:19:37,272
Got an exciting phone call.
1464
01:19:37,355 --> 01:19:39,858
I'm playing my first game
with the Chicago Bears
1465
01:19:39,941 --> 01:19:41,943
after six weeks on practice squad.
1466
01:19:42,027 --> 01:19:44,529
I'm going against Tom Brady and the Bucks.
1467
01:19:44,613 --> 01:19:45,697
Should be fun.
1468
01:19:46,239 --> 01:19:48,325
[crowd cheers]
1469
01:19:48,408 --> 01:19:51,578
Teez! Let's go!
I had to come to your first game, baby!
1470
01:19:54,790 --> 01:19:56,333
[commentator 1] Third and ten.
1471
01:19:58,752 --> 01:20:00,086
That's broken up.
1472
01:20:00,962 --> 01:20:03,924
[commentator 2] Teez Tabor is the one
who knocked it down.
1473
01:20:04,007 --> 01:20:06,676
[man] There we go, Teez! Yes, sir!
1474
01:20:07,302 --> 01:20:09,763
[Teez] I was just so excited
because I haven't got to play
1475
01:20:09,846 --> 01:20:12,098
in an NFL game for almost three years,
1476
01:20:12,891 --> 01:20:14,810
so it's just a long time coming.
1477
01:20:22,150 --> 01:20:24,736
Going from practice squad
to active roster,
1478
01:20:24,820 --> 01:20:26,571
there's a big difference in the pay.
1479
01:20:31,076 --> 01:20:34,746
The money coming in now is different
than when I first got in the league.
1480
01:20:34,830 --> 01:20:40,001
I already know I'm putting certain amount
in the S&P like I'm paying a bill.
1481
01:20:43,088 --> 01:20:43,922
[dings]
1482
01:20:44,005 --> 01:20:45,966
So I'm just getting started,
1483
01:20:46,049 --> 01:20:49,344
but I'm definitely
setting my family up for the better.
1484
01:20:50,470 --> 01:20:53,765
-Daddy's hair are messy!
-[laughs] It's all messy?
1485
01:20:53,849 --> 01:20:56,309
-Need to comb all of it.
-Yeah, you gotta get it right.
1486
01:20:56,393 --> 01:20:58,937
[Teez] When I look at Chelsea and Ariah
with this new knowledge,
1487
01:20:59,020 --> 01:21:02,023
it definitely makes me feel
like a better provider.
1488
01:21:02,524 --> 01:21:05,110
Eye! You know, eye!
1489
01:21:05,193 --> 01:21:07,404
His blue eyes!
1490
01:21:07,487 --> 01:21:10,949
[Teez] To be able to help
especially those two people in my life…
1491
01:21:11,449 --> 01:21:12,868
Okay, let's go take a look!
1492
01:21:12,951 --> 01:21:13,910
…for life.
1493
01:21:14,411 --> 01:21:15,871
And… And that's the biggest thing.
1494
01:21:17,289 --> 01:21:19,040
[Ariana] I think it looks amazing.
1495
01:21:19,124 --> 01:21:21,376
I think he just needs some lip gloss,
then he's all done.
1496
01:21:21,459 --> 01:21:23,461
You look so beautiful!
1497
01:21:23,545 --> 01:21:25,255
I'm very passionate about
1498
01:21:25,338 --> 01:21:27,549
giving the knowledge I got
back to the community.
1499
01:21:27,632 --> 01:21:29,593
[uptempo instrumental music plays]
1500
01:21:29,676 --> 01:21:31,219
[people laughing]
1501
01:21:33,388 --> 01:21:34,389
[indistinct chatter]
1502
01:21:34,472 --> 01:21:38,476
Helping them have a different outlook
on money and how to use it.
1503
01:21:41,521 --> 01:21:44,482
See, when I got to the NFL,
it was… it was showtime for me.
1504
01:21:45,442 --> 01:21:49,905
Man, I'm looking… I'm looking sweet now.
I can finally buy my own shoes.
1505
01:21:49,988 --> 01:21:52,532
I got my own crib.
You know what I'm saying?
1506
01:21:52,616 --> 01:21:54,409
I got my own jewelry. You know…
1507
01:21:54,492 --> 01:21:56,369
I mean, I was spending it before I got it.
1508
01:21:56,953 --> 01:22:00,290
Growing up, you ain't had no money,
so you didn't have to manage money.
1509
01:22:00,373 --> 01:22:02,334
They don't teach us this in the classroom.
1510
01:22:02,417 --> 01:22:05,003
They teach us how to be,
you know, consumers.
1511
01:22:05,086 --> 01:22:08,548
They teach us how to take on debt.
Ain't gonna teach us how to keep money.
1512
01:22:08,632 --> 01:22:11,718
But sometimes in our culture,
we want to get rich quick.
1513
01:22:11,801 --> 01:22:14,220
-Mm-hmm.
-I wanna get rich quick. Right? Like…
1514
01:22:14,304 --> 01:22:16,556
It ain't no shame, right?
It ain't no shame in it.
1515
01:22:17,140 --> 01:22:18,850
But I blew so much money on…
1516
01:22:19,935 --> 01:22:22,979
you know, the fake lifestyle
that we want to live, for real.
1517
01:22:23,563 --> 01:22:26,316
Forget all the Instagram.
Forget all the glitz and the glamour.
1518
01:22:26,399 --> 01:22:28,860
Like, forget all that. It's fake.
1519
01:22:28,944 --> 01:22:33,281
All that little baby chains,
it's… it's not real, for real.
1520
01:22:33,365 --> 01:22:35,825
What's real is really investing my money.
1521
01:22:37,035 --> 01:22:41,498
Everything that I've learned from Ro$$
has definitely, like, changed my life.
1522
01:22:42,290 --> 01:22:43,792
It changed my mindset.
1523
01:22:43,875 --> 01:22:45,710
It changed my outlook.
1524
01:22:45,794 --> 01:22:48,588
It shifted my focus
on what it needed to be.
1525
01:22:48,672 --> 01:22:51,716
And with that, there's no price tag
that you could put on it.
1526
01:22:52,926 --> 01:22:55,929
The knowledge that I've gained
is priceless.
1527
01:23:00,892 --> 01:23:03,603
[Tiffany] I know we've been on
a good track, but how do you feel?
1528
01:23:03,687 --> 01:23:06,314
-And where are you? Any big news?
-Um, actually, yes!
1529
01:23:06,398 --> 01:23:08,566
-Okay!
-I… I'm getting a raise at work.
1530
01:23:08,650 --> 01:23:10,485
-Okay! [laughs]
-Yeah.
1531
01:23:10,568 --> 01:23:15,448
I was told a little bit ago, um,
and I'm waiting to see when that kicks in.
1532
01:23:15,532 --> 01:23:19,077
Look how your-- More money is coming
into your life, right?
1533
01:23:19,160 --> 01:23:20,704
When you look after money,
1534
01:23:21,287 --> 01:23:22,872
literally more money will come to you
1535
01:23:22,956 --> 01:23:25,041
because you're looking after
the money that you have.
1536
01:23:25,125 --> 01:23:27,460
That's what's happening.
You're getting on the other side of,
1537
01:23:27,544 --> 01:23:29,838
I like to call it
post-traumatic broke syndrome.
1538
01:23:29,921 --> 01:23:30,964
[laughs]
1539
01:23:31,047 --> 01:23:33,883
-You know I've been there.
-That's exactly what I'm feeling.
1540
01:23:34,467 --> 01:23:36,720
-Can I give you another update?
-Yes, of course.
1541
01:23:36,803 --> 01:23:40,432
I paid off everything that had
an interest rate of 10% or higher.
1542
01:23:40,515 --> 01:23:41,808
[laughs] Yes!
1543
01:23:41,891 --> 01:23:45,687
So the only things that are left
are things that are like 10% or lower.
1544
01:23:45,770 --> 01:23:47,647
Okay, that's awesome!
1545
01:23:51,943 --> 01:23:54,279
[Ariana] I don't remember
when, like, my credit card balances
1546
01:23:54,362 --> 01:23:55,488
were ever this low.
1547
01:23:58,241 --> 01:24:02,037
Now, instead of feeling like a mountain,
it's like I'm walking up a hill.
1548
01:24:02,829 --> 01:24:05,290
It doesn't feel like something
that's insurmountable anymore.
1549
01:24:05,373 --> 01:24:08,001
It feels like, it's like,
I'm almost at the finish line.
1550
01:24:08,835 --> 01:24:10,795
It's like a really great feeling.
1551
01:24:13,089 --> 01:24:15,592
So credit card debt's gonna be done soon.
1552
01:24:15,675 --> 01:24:17,886
-[Ariana] Yes.
-So I want you to think now,
1553
01:24:18,428 --> 01:24:21,681
'cause here's where I was,
I had $35,000 in credit card debt.
1554
01:24:21,765 --> 01:24:24,100
And I paid it all
by being very aggressive.
1555
01:24:24,184 --> 01:24:25,393
-Just like you.
-Yeah.
1556
01:24:25,477 --> 01:24:28,146
And then I was like,
"Student loan debt, you're next!"
1557
01:24:28,229 --> 01:24:29,731
That's how I feel now!
1558
01:24:29,814 --> 01:24:32,067
-But… here's the thing.
-Okay. Yes.
1559
01:24:32,650 --> 01:24:35,195
-Credit card debt is cancerous.
-Yes, it is.
1560
01:24:35,278 --> 01:24:36,654
-We have to cut it out.
-Yes.
1561
01:24:36,738 --> 01:24:39,574
But student loan debt,
usually the interest rate is fairly low.
1562
01:24:39,657 --> 01:24:41,117
-Oftentimes under 5%.
-[Ariana] Yeah.
1563
01:24:41,201 --> 01:24:43,495
And so you don't have to be as fast
with paying them off.
1564
01:24:47,624 --> 01:24:49,751
[Tiffany] I want you to start to enjoy
1565
01:24:50,251 --> 01:24:52,253
the money that's happening to you.
1566
01:24:52,337 --> 01:24:54,631
-You know what I mean?
-[Ariana] Yes, that would be amazing.
1567
01:24:54,714 --> 01:24:58,343
[Tiffany] The way you're navigating
with your finances now, you can do that.
1568
01:24:58,426 --> 01:24:59,427
[Ariana] Isn't this cool?
1569
01:25:01,679 --> 01:25:03,473
It's like a sculpture.
1570
01:25:03,556 --> 01:25:05,642
[Tiffany] In the beginning,
the money is for security.
1571
01:25:05,725 --> 01:25:08,186
After that, what is the money for?
1572
01:25:08,269 --> 01:25:11,481
Some day trips that I wanted to go,
like, see the pyramids nearby.
1573
01:25:11,564 --> 01:25:14,400
[Tiffany] The money is
to help explore the world.
1574
01:25:14,484 --> 01:25:17,278
The money is to lean into new experiences.
1575
01:25:17,362 --> 01:25:21,032
The money is to help create
the life that you really desire,
1576
01:25:21,116 --> 01:25:23,743
and that is your reward
for taking care of it.
1577
01:25:23,827 --> 01:25:24,953
[speaking indistinctly]
1578
01:25:25,036 --> 01:25:28,498
They have a subway, which is really cool,
and apparently Ubers are like $3.
1579
01:25:29,207 --> 01:25:30,917
Something that Tiffany
really pushed me to do
1580
01:25:31,000 --> 01:25:32,252
is set up this dream fund.
1581
01:25:32,335 --> 01:25:34,963
So Andrew and I are planning
a trip to Mexico City.
1582
01:25:35,046 --> 01:25:37,632
This would be a lot of fun for us to do.
Just me and you.
1583
01:25:38,508 --> 01:25:40,218
So I thought his was absolutely beautiful.
1584
01:25:40,301 --> 01:25:42,345
-Casa Boho?
-[Ariana] Casa Boho.
1585
01:25:43,596 --> 01:25:46,307
[Ariana] This money was
specifically set aside for this trip.
1586
01:25:46,391 --> 01:25:48,518
So there's less guilt
associated with it, right?
1587
01:25:48,601 --> 01:25:50,311
Like, it's not like this money
was earmarked
1588
01:25:50,395 --> 01:25:51,646
for debt or something else.
1589
01:25:51,729 --> 01:25:53,898
I wanna do a couple nice dinners.
1590
01:25:54,482 --> 01:25:58,319
I haven't had to think about a budget
since I've started working with Tiffany.
1591
01:25:58,903 --> 01:26:01,906
My direct deposit is set up
so the correct amount of money
1592
01:26:01,990 --> 01:26:03,575
goes into every single account.
1593
01:26:03,658 --> 01:26:07,036
It has lifted, like, this huge weight,
1594
01:26:07,120 --> 01:26:10,582
knowing that everything is set up
and I don't have to touch it at all.
1595
01:26:13,126 --> 01:26:16,588
This mindset shift
around giving myself grace
1596
01:26:16,671 --> 01:26:20,592
and being patient with myself
and, like, setting up my money in a way
1597
01:26:21,134 --> 01:26:24,888
that gave me space
to do the things that mattered to me
1598
01:26:25,430 --> 01:26:27,265
while also paying off the debt.
1599
01:26:28,766 --> 01:26:30,393
It's been, like, life-changing.
1600
01:26:37,984 --> 01:26:40,361
[Kim] Ready? Where are we going?
1601
01:26:41,529 --> 01:26:43,198
To the airport.
1602
01:26:43,281 --> 01:26:45,200
[Kim laughs]
1603
01:26:45,283 --> 01:26:47,785
We're going to Costa Rica!
We're on our way.
1604
01:26:47,869 --> 01:26:49,787
And we are gonna go on vacation.
1605
01:26:53,750 --> 01:26:55,919
[Pete] When I tell people
to cut down their spending,
1606
01:26:56,002 --> 01:26:58,504
I'm really trying
to talk them into cutting out waste.
1607
01:26:59,589 --> 01:27:00,840
Going on a family vacation,
1608
01:27:00,924 --> 01:27:02,884
like a trip to Costa Rica,
is totally different.
1609
01:27:02,967 --> 01:27:04,761
That's something
you're gonna remember forever.
1610
01:27:04,844 --> 01:27:06,471
Your kids are only young once.
1611
01:27:06,554 --> 01:27:09,766
So if you can afford it, that's probably
money that's worth spending.
1612
01:27:11,392 --> 01:27:12,685
[John] I'm packing.
1613
01:27:12,769 --> 01:27:14,270
Yay!
1614
01:27:16,356 --> 01:27:18,358
[Pete on video call]
How long is this trip gonna be?
1615
01:27:18,983 --> 01:27:21,361
-[John] Five weeks total.
-[Kim] Yeah. [laughs]
1616
01:27:21,444 --> 01:27:25,240
[Pete] That's a pretty reasonable,
like, uh, early retirement test.
1617
01:27:25,323 --> 01:27:28,493
Yeah, mini retirement,
we learned that term recently.
1618
01:27:28,576 --> 01:27:32,497
I like the idea of doing that
once a year, having an extended break
1619
01:27:32,580 --> 01:27:34,749
rather than waiting till we're, you know…
1620
01:27:34,832 --> 01:27:36,751
-[Pete] Yeah, I think that's a good idea.
-Yeah.
1621
01:27:36,834 --> 01:27:40,713
So what's the status of your…
your nice house back in Colorado,
1622
01:27:40,797 --> 01:27:42,173
while you're on this vacation?
1623
01:27:42,257 --> 01:27:44,759
We were able to rent it out for two weeks.
1624
01:27:44,842 --> 01:27:47,512
-What! Oh, that's awesome!
-[both] Yeah.
1625
01:27:50,515 --> 01:27:54,018
[John] This whole process has been about,
like, "How do we use our resources?"
1626
01:27:54,102 --> 01:27:58,356
Money being one of the resources
to expand the amount of time
1627
01:27:58,439 --> 01:28:00,358
and prioritize our kids.
1628
01:28:00,441 --> 01:28:04,070
It's not the material stuff.
It's the time that we care about.
1629
01:28:05,530 --> 01:28:08,783
[Kim] I've never taken off
this much time from work.
1630
01:28:09,784 --> 01:28:14,122
What was most special
about the mini retirement
1631
01:28:14,205 --> 01:28:18,501
was that we got to bond
and, like, really get to know each other.
1632
01:28:18,584 --> 01:28:20,670
And we just don't have time
for that in daily life.
1633
01:28:20,753 --> 01:28:22,922
-[cooing]
-[Kim] Oh, you found another slug?
1634
01:28:23,464 --> 01:28:25,758
-Yeah!
-Be gentle with him, okay?
1635
01:28:25,842 --> 01:28:28,845
[Kim] We don't have time to sit on a beach
1636
01:28:28,928 --> 01:28:31,556
and like, talk about shells.
1637
01:28:31,639 --> 01:28:33,057
It doesn't, like, happen.
1638
01:28:34,267 --> 01:28:37,520
So that was really special.
1639
01:28:42,066 --> 01:28:45,903
The trip was kind of
a representation of, like,
1640
01:28:45,987 --> 01:28:48,656
"Okay, we can, like, hustle
and make all this money
1641
01:28:48,740 --> 01:28:51,701
and then not use it and just throw it all
on the stock market."
1642
01:28:53,494 --> 01:28:54,370
[dings]
1643
01:28:54,454 --> 01:28:59,125
Or we can take time now
to be available and present for each other
1644
01:28:59,208 --> 01:29:02,378
and have real healthy,
happy relationships.
1645
01:29:07,008 --> 01:29:11,804
I feel like the definition of money
has shifted from a way to create
1646
01:29:11,888 --> 01:29:16,100
short-term comfort, short-term relief
1647
01:29:16,184 --> 01:29:18,728
to long-term freedom.
1648
01:29:20,730 --> 01:29:23,858
I definitely have changed
the way I think about Amazon
1649
01:29:23,941 --> 01:29:27,904
and spending in general
because we have a really solid goal
1650
01:29:27,987 --> 01:29:29,405
that we're working towards.
1651
01:29:29,906 --> 01:29:33,534
Being able to retire
in the next five, six, seven years
1652
01:29:33,618 --> 01:29:36,412
is such a bigger reward
1653
01:29:36,496 --> 01:29:40,458
than anything I could purchase ever.
1654
01:29:40,541 --> 01:29:42,543
[laughs]
1655
01:29:55,932 --> 01:29:59,185
The ultimate goal of money
is to not have to think about money.
1656
01:29:59,268 --> 01:30:01,646
If your spending is low,
then all the other problems
1657
01:30:01,729 --> 01:30:03,106
just kind of evaporate.
1658
01:30:04,065 --> 01:30:07,235
I'm just hoping that Kim and John
are feeling more confident
1659
01:30:07,318 --> 01:30:08,569
and less overwhelmed,
1660
01:30:08,653 --> 01:30:11,280
and I'm sure
their spending is gonna improve.
1661
01:30:11,364 --> 01:30:15,284
But even more important than that
is just that their mental understanding
1662
01:30:15,368 --> 01:30:18,621
of how bright their future is gonna be,
that needs to sink in,
1663
01:30:18,704 --> 01:30:22,458
and then they're gonna feel empowered
to make more changes after that.
1664
01:30:23,835 --> 01:30:25,837
[mellow music plays]
1665
01:30:32,718 --> 01:30:34,345
Money is just a tool.
1666
01:30:34,429 --> 01:30:37,515
You can use money
to build yourself up financially,
1667
01:30:37,598 --> 01:30:40,768
but money can also be used
to destroy yourself financially.
1668
01:30:40,852 --> 01:30:44,814
But ultimately, the good news
is you get to decide.
1669
01:30:44,897 --> 01:30:46,482
You are in charge.
1670
01:30:47,692 --> 01:30:48,985
What I'm most happy about
1671
01:30:49,068 --> 01:30:51,362
is I can see
that Ari sees the finish line.
1672
01:30:51,446 --> 01:30:54,699
You know, I'm not talking to a woman
who's hopeless anymore.
1673
01:31:05,084 --> 01:31:07,587
It's not just teaching the person
how to budget
1674
01:31:07,670 --> 01:31:10,339
or teaching the person how to invest.
This is a lifestyle.
1675
01:31:11,048 --> 01:31:14,469
If Teez is to keep up this pace
of investing in the S&P 500
1676
01:31:14,552 --> 01:31:18,598
on a monthly basis, being disciplined,
being consistent, right?
1677
01:31:18,681 --> 01:31:21,851
Literally in 20 years,
he'll have close to four million dollars.
1678
01:31:21,934 --> 01:31:23,936
[mellow music builds]
1679
01:31:32,320 --> 01:31:35,656
When you shift your focus
and you think about what you can earn
1680
01:31:35,740 --> 01:31:37,617
and how to grow your income,
1681
01:31:37,700 --> 01:31:42,163
part of that is shifting your focus
1682
01:31:42,246 --> 01:31:46,501
to really ask yourself the question,
"What value can I bring to the world?"
1683
01:31:47,460 --> 01:31:51,214
Lindsey has so much creativity and skill
1684
01:31:51,297 --> 01:31:55,593
that by making that her career,
she will naturally make a lot more money,
1685
01:31:55,676 --> 01:31:56,636
because the thing is,
1686
01:31:56,719 --> 01:32:00,223
you make money
based on how rare and valuable
1687
01:32:00,306 --> 01:32:02,558
the thing that you're bringing
to the table is.
1688
01:32:05,728 --> 01:32:08,940
[mellow music ends]
1689
01:32:13,194 --> 01:32:17,073
[upbeat music plays]
1690
01:32:44,642 --> 01:32:46,310
[upbeat music ends]