All right, Marketing school listeners, this is a twenty to thirty minute segment of a full interview I've done with an amazing.

All right, Marketing school listeners, this is a twenty to thirty minute segment of a full interview I've done with an amazing.

Founder, entrepreneur, creative visionary.

Founder, entrepreneur, creative visionary.

You're going to get a ton of insights from this, and if you want to listen to the entire thing, go search for leveling Up with Eric Sue. That's the entire podcast that you're going to find, So you can get twenty to thirty minutes here, and if you want the whole thing, you can just search for leveling Up with Eric Sue And without further Ado enjoyed the episode.

You're going to get a ton of insights from this, and if you want to listen to the entire thing, go search for leveling Up with Eric Sue. That's the entire podcast that you're going to find, So you can get twenty to thirty minutes here, and if you want the whole thing, you can just search for leveling Up with Eric Sue And without further Ado enjoyed the episode.

My first year of making money was certainly not a lot of money. It was just something part time that I was doing in the summer as a club promoter. But all the way to the very end of like, you know, every single year I was leveling up. Every single year I was making more money. And when I made the leap to you know, a full time Wall Street job, you saw that number jump. Of course, you're going from a part time job to a full time job after I graduated. But what people don't even realize is that everybody thinks I may all of my money on Wall Street. Absolutely not, Okay, I was on Wall Street for two and a half years, and I was making an analyst salary and bonus. It's not that exciting. The base was eighty you got a ten thousand dollars signing bonus. And then when I left Wall Street and moved into tech and media sales, that's when I started to really make the big bucks. Because you know, my salary was still roughly the same, but now I ate what I killed for every extra email I would send, for every extra call, I would be willing to take over the guy sitting next to me. I knew I was going to make more money, and my very first year I made slightly more than I did on Wall Street. My second year I made some It was like a six figure income something with a three handle on it. And by the very last year of working at busfeed, I made all in roughly six hundred and twenty five thousand dollars. And people hear that number are the immediate assumption is I made that trading equities. But I made it because I was a really good salesperson got it.

My first year of making money was certainly not a lot of money. It was just something part time that I was doing in the summer as a club promoter. But all the way to the very end of like, you know, every single year I was leveling up. Every single year I was making more money. And when I made the leap to you know, a full time Wall Street job, you saw that number jump. Of course, you're going from a part time job to a full time job after I graduated. But what people don't even realize is that everybody thinks I may all of my money on Wall Street. Absolutely not, Okay, I was on Wall Street for two and a half years, and I was making an analyst salary and bonus. It's not that exciting. The base was eighty you got a ten thousand dollars signing bonus. And then when I left Wall Street and moved into tech and media sales, that's when I started to really make the big bucks. Because you know, my salary was still roughly the same, but now I ate what I killed for every extra email I would send, for every extra call, I would be willing to take over the guy sitting next to me. I knew I was going to make more money, and my very first year I made slightly more than I did on Wall Street. My second year I made some It was like a six figure income something with a three handle on it. And by the very last year of working at busfeed, I made all in roughly six hundred and twenty five thousand dollars. And people hear that number are the immediate assumption is I made that trading equities. But I made it because I was a really good salesperson got it.

And by the way, it's when you're working in I think it was I banking right.

And by the way, it's when you're working in I think it was I banking right.

I was on the trading side, Okay, got it.

I was on the trading side, Okay, got it.

Yeah, So, but also you were getting grinded to the bone too, right, you're working at seventy eighty hours a week.

Yeah, So, but also you were getting grinded to the bone too, right, you're working at seventy eighty hours a week.

I mean I was waking up at five. My butt had to be in the seat at five point forty five. And then I would leave the office every day roughly six, but typically on Tuesdays through Thursdays, I had a client event to go to. So it wasn't like at six I got to go home. I then had to go to drinks or go to dinner. And when you first sign up for the job, that sounds amazing, right, because you're twenty two, you have no money. There's no way you can afford to eat at this really fancy steakhouse. You get to go to this dinner, but you have to realize, like you're not hanging out with your friends, You're hanging out with people that you need to be on around And I had to talk shop. I had to, you know, hang out with clients that maybe I liked, maybe I didn't, maybe they weren't particularly nice. It's it's work, So you know, i'd probably get home around eight nine, sometimes closure on midnight if it was a really late night. Yeah, and so every week, I'm working eighty hours a week, yeah, to what make one hundred thousand dollars a year, Like on a forty hour week work week, that's fifty thousand dollars, which is below what the median American.

I mean I was waking up at five. My butt had to be in the seat at five point forty five. And then I would leave the office every day roughly six, but typically on Tuesdays through Thursdays, I had a client event to go to. So it wasn't like at six I got to go home. I then had to go to drinks or go to dinner. And when you first sign up for the job, that sounds amazing, right, because you're twenty two, you have no money. There's no way you can afford to eat at this really fancy steakhouse. You get to go to this dinner, but you have to realize, like you're not hanging out with your friends, You're hanging out with people that you need to be on around And I had to talk shop. I had to, you know, hang out with clients that maybe I liked, maybe I didn't, maybe they weren't particularly nice. It's it's work, So you know, i'd probably get home around eight nine, sometimes closure on midnight if it was a really late night. Yeah, and so every week, I'm working eighty hours a week, yeah, to what make one hundred thousand dollars a year, Like on a forty hour week work week, that's fifty thousand dollars, which is below what the median American.

Makes, right, that's nuts.

Makes, right, that's nuts.

I mean that's like what probably twenty ish thirtyish dollars an hour something like.

I mean that's like what probably twenty ish thirtyish dollars an hour something like.

That to be doing really mentally taxing work, Like from the hours of nine thirty to four pm. It's not like I got to freely go take a bathroom break. If I had to go to the bathroom, I would have to yell out to the trader next to me, be like, can you watch my screens while I go to the bathroom? And I had to hustle go as quickly as I could and come back. And I don't think people realize that this is not a normal corporate job where you are allowed to go to the water cooler. Like when you are in a trading seat nine thirty to four, you are tethered to your desk and it's hard.

That to be doing really mentally taxing work, Like from the hours of nine thirty to four pm. It's not like I got to freely go take a bathroom break. If I had to go to the bathroom, I would have to yell out to the trader next to me, be like, can you watch my screens while I go to the bathroom? And I had to hustle go as quickly as I could and come back. And I don't think people realize that this is not a normal corporate job where you are allowed to go to the water cooler. Like when you are in a trading seat nine thirty to four, you are tethered to your desk and it's hard.

How rich do you want to be? What be the idea?

How rich do you want to be? What be the idea?

Because I think you made a comment about how billionaire shouldn't exist, right, So like where does that calf out at So.

Because I think you made a comment about how billionaire shouldn't exist, right, So like where does that calf out at So.

I think this ties back to like my FU number, I think I have multiple tiers of FU number. I think the F you number in my head right now as it stands, is twenty five million, because at twenty five million invested, that backs into about a million a year. If I'm able to get a four percent return on that twenty five mil, which is very conservative, got it, and at a MILLI year, I can do everything that I want in my life. I have my you know, primary home. I have a vacation home. I'm going to be able to help put my kids through any sort of education they want to do, any sort of vacations our family wants to have. Will be able to afford a car. It's going to cover every that I need. I wouldn't have to work anymore. And at that point, I would say that my priorities would severely change based on the fact that my financial needs and my family's future financial needs, not just my own, but my family's future financial needs would all be.

I think this ties back to like my FU number, I think I have multiple tiers of FU number. I think the F you number in my head right now as it stands, is twenty five million, because at twenty five million invested, that backs into about a million a year. If I'm able to get a four percent return on that twenty five mil, which is very conservative, got it, and at a MILLI year, I can do everything that I want in my life. I have my you know, primary home. I have a vacation home. I'm going to be able to help put my kids through any sort of education they want to do, any sort of vacations our family wants to have. Will be able to afford a car. It's going to cover every that I need. I wouldn't have to work anymore. And at that point, I would say that my priorities would severely change based on the fact that my financial needs and my family's future financial needs, not just my own, but my family's future financial needs would all be.

Met, mark my words.

Met, mark my words.

By twenty thirty four, so let's call it. In ten years, Vivian will have more than twenty five million.

By twenty thirty four, so let's call it. In ten years, Vivian will have more than twenty five million.

You really, you have a lot of we're going to come back to this ten years.

You really, you have a lot of we're going to come back to this ten years.

We'll see, We'll see see.

We'll see, We'll see see.

I hope I do it in like next year and then we have to come back here.

I hope I do it in like next year and then we have to come back here.

Yeah, that would do. That would be even better. So Okay, what do people get wrong with their money?

Yeah, that would do. That would be even better. So Okay, what do people get wrong with their money?

You know? I think a lot of us really focus on the scrimping and the saving, and so people are like, I'm not buying that avocado toast, I'm not buying that Starbucks. I'm not you know, doing anything that brings me joy. Think about how hard it is to cut ten thousand dollars worth of expenses out of your life, Like, that's hard. You're giving up a lot of things you really enjoy. How easy is it to ask for a ten thousand dollars rates that is absolutely heard of, like heard of as happens all the time, happens to so many people. A ten thousand dollars raise is really not that strange, And you can get one just by being responsible, making sure you come to the table with like quantifiable facts and like, you know, a good excuse for your boss of why you deserve one. So it's a lot easier to make more money than it is to cut out all of the things that bring you joy. So my advice is, hey, focus less on the coupon clipping and the little, you know, tiny things, focus on the big stuff. Because if you're not asking for a raise every single year, it doesn't matter. If you're trying to scrimp and save like, you're still not going to get ahead.

You know? I think a lot of us really focus on the scrimping and the saving, and so people are like, I'm not buying that avocado toast, I'm not buying that Starbucks. I'm not you know, doing anything that brings me joy. Think about how hard it is to cut ten thousand dollars worth of expenses out of your life, Like, that's hard. You're giving up a lot of things you really enjoy. How easy is it to ask for a ten thousand dollars rates that is absolutely heard of, like heard of as happens all the time, happens to so many people. A ten thousand dollars raise is really not that strange, And you can get one just by being responsible, making sure you come to the table with like quantifiable facts and like, you know, a good excuse for your boss of why you deserve one. So it's a lot easier to make more money than it is to cut out all of the things that bring you joy. So my advice is, hey, focus less on the coupon clipping and the little, you know, tiny things, focus on the big stuff. Because if you're not asking for a raise every single year, it doesn't matter. If you're trying to scrimp and save like, you're still not going to get ahead.

At the end of the day. It's your earning power.

At the end of the day. It's your earning power.

And Charlie Munger likes to say, shial media incentive and I'll show you the outcome, right, and you certainly prove that. So I guess for practical advice for people, like, how can they go about increasing their earning power?

And Charlie Munger likes to say, shial media incentive and I'll show you the outcome, right, and you certainly prove that. So I guess for practical advice for people, like, how can they go about increasing their earning power?

Is it learning before you earn?

Is it learning before you earn?

Like?

Like?

What is it?

What is it?

I think it's learning while you earn. Right, Like, in any job, you either need to be learning or earning ideally both. And I think it's about being really, really selfish. Right back in the day, our parents, our grandparents were incentivized to stay at companies for thirty forty years because they had pensions. And pensions are this special little thing that help you prepare for retirement because your company would put money away for you and take care of you in old age. Now most of us have something called a four to h one k, which is just a pension, but it's worse in literally every way because instead of your company contributing to it, you have to contribute to it. Instead of your company selecting investments, you have to select investments. And back in the day, if your company didn't select the right investments come retirement, they still had to pay you out on what they owed you, and it got bigger and bigger and bigger the longer you stayed at someplace. Now it's like, okay, well, it's my money going into this account. Maybe your company matches it, maybe it doesn't. You have to pick investments. You gotter pick right, because if you don't, sorry, too bad. So sad, and we are no longer incentivized to stay at companies for thirty forty years, because why should we We have to put our own money into these accounts. The only way we can put more money into these accounts is by making more money. So my thing is is be selfish. Forbes did a study people who stay at jobs for longer than two years make less than make essentially fifty percent less their entire lifetime. So my thing is is, like you need to be either up or out every two years every two years. You need to be getting a ten to fifteen percent promotion at a minimum every two years. Otherwise you need to leave. You need to go somewhere that's going to pay you, because if you're not doing that, you're going to be making less. And people are like, well, the job market's bad, and like, you know, it's not the great resignation anymore. I agree. I concur it's not as easy as it was two three years ago. But we have to take a long, hard look at ourselves and be like, am I actually doing a good job? Do I deserve a raise? Because the best people, the smartest people, the people who perform the best and have the best results, and you know, make sure their boss knows that they're doing a good job. They tell people what they're going to do, they do it, and then they tell everyone how they did it. Those people are going to get paid every year, and they always have since the dawn of time.

I think it's learning while you earn. Right, Like, in any job, you either need to be learning or earning ideally both. And I think it's about being really, really selfish. Right back in the day, our parents, our grandparents were incentivized to stay at companies for thirty forty years because they had pensions. And pensions are this special little thing that help you prepare for retirement because your company would put money away for you and take care of you in old age. Now most of us have something called a four to h one k, which is just a pension, but it's worse in literally every way because instead of your company contributing to it, you have to contribute to it. Instead of your company selecting investments, you have to select investments. And back in the day, if your company didn't select the right investments come retirement, they still had to pay you out on what they owed you, and it got bigger and bigger and bigger the longer you stayed at someplace. Now it's like, okay, well, it's my money going into this account. Maybe your company matches it, maybe it doesn't. You have to pick investments. You gotter pick right, because if you don't, sorry, too bad. So sad, and we are no longer incentivized to stay at companies for thirty forty years, because why should we We have to put our own money into these accounts. The only way we can put more money into these accounts is by making more money. So my thing is is be selfish. Forbes did a study people who stay at jobs for longer than two years make less than make essentially fifty percent less their entire lifetime. So my thing is is, like you need to be either up or out every two years every two years. You need to be getting a ten to fifteen percent promotion at a minimum every two years. Otherwise you need to leave. You need to go somewhere that's going to pay you, because if you're not doing that, you're going to be making less. And people are like, well, the job market's bad, and like, you know, it's not the great resignation anymore. I agree. I concur it's not as easy as it was two three years ago. But we have to take a long, hard look at ourselves and be like, am I actually doing a good job? Do I deserve a raise? Because the best people, the smartest people, the people who perform the best and have the best results, and you know, make sure their boss knows that they're doing a good job. They tell people what they're going to do, they do it, and then they tell everyone how they did it. Those people are going to get paid every year, and they always have since the dawn of time.

I guess based on experience, and I think the same thing for you too. It's like, yes, be selfish, but also don't be afraid the job pop and us having Asian parents, it's like, no, you should stay, you should.

I guess based on experience, and I think the same thing for you too. It's like, yes, be selfish, but also don't be afraid the job pop and us having Asian parents, it's like, no, you should stay, you should.

Get one percent. Do you know how bad. My mom yelled at me when I told her I was leaving. JP Morgan, you lost the badge. I lost the badge. I lost the badge. So we were talking, you know, before the show started, about how I am a native Shanghaianie speaker, which is essentially a dialective Mandarin. There's a phrase that all of her Asian auntie friends said to her about my getting to work there. Basically, if you want to work at a company like that, you know lung kit, So essentially you have to crack your head open, you'n it noan kuit, So like you have to basically crack your head open to work somewhere like that, Meaning it's hyper competitive. It's so hard to get a job there. It's grueling physically, emotionally, mentally. And it was like a point of pride that I had that type of grit and other people couldn't do it. So my leaving in a sense was not only a failure because I couldn't hack it, because people love to say that I couldn't hack it. And two, it felt like all of the investments my parents had put into me for you know, two decades, they felt like they had wasted so the extracurricular business clubs that I was in high school, all the field trips that I went on to to like debate competitions, going to a school like U Chicago, which certainly is not cheap, that was a quarter of a million dollar education where and sure I got some merit grants and I got some scholarships, but they also helped pay for a lot of it. And I always say, that's like a huge privilege of mine. I don't have student debt. They chose to allow me to go to a school like Chicago, knowing that it was a feeder school for lawyers, doctors, engineers, and financiers. And their thought was like we accomplished that, Like she got the thing that she said she wanted to do because we got her into that. You know, she got into that school. We helped pay for it. She has this career, and now you want to piss it away. That was the attitude.

Get one percent. Do you know how bad. My mom yelled at me when I told her I was leaving. JP Morgan, you lost the badge. I lost the badge. I lost the badge. So we were talking, you know, before the show started, about how I am a native Shanghaianie speaker, which is essentially a dialective Mandarin. There's a phrase that all of her Asian auntie friends said to her about my getting to work there. Basically, if you want to work at a company like that, you know lung kit, So essentially you have to crack your head open, you'n it noan kuit, So like you have to basically crack your head open to work somewhere like that, Meaning it's hyper competitive. It's so hard to get a job there. It's grueling physically, emotionally, mentally. And it was like a point of pride that I had that type of grit and other people couldn't do it. So my leaving in a sense was not only a failure because I couldn't hack it, because people love to say that I couldn't hack it. And two, it felt like all of the investments my parents had put into me for you know, two decades, they felt like they had wasted so the extracurricular business clubs that I was in high school, all the field trips that I went on to to like debate competitions, going to a school like U Chicago, which certainly is not cheap, that was a quarter of a million dollar education where and sure I got some merit grants and I got some scholarships, but they also helped pay for a lot of it. And I always say, that's like a huge privilege of mine. I don't have student debt. They chose to allow me to go to a school like Chicago, knowing that it was a feeder school for lawyers, doctors, engineers, and financiers. And their thought was like we accomplished that, Like she got the thing that she said she wanted to do because we got her into that. You know, she got into that school. We helped pay for it. She has this career, and now you want to piss it away. That was the attitude.

You had a video on how to avoid paying taxes legally, so I figured we might as well talk about it again.

You had a video on how to avoid paying taxes legally, so I figured we might as well talk about it again.

Yeah, let's do it, go for it. What do you got?

Yeah, let's do it, go for it. What do you got?

So, first and foremost is to open up retirement investment accounts, So things like a four oh one K or an ira or a wroth four oh and K and a roth ira are a really easy way to avoid taxes legally. In a four to one K or an ira, the money you put into that account is tax free. You get to save on your tax bill this year. In the future, when you take money out, you'll have to pay taxes on that, but hey, you're only paying taxes on end of that transaction. On the flip side, a wroth four O one K and a wroth Ie array you pay taxes on the front end, but when you take that money out free a charge, so again you're only paying taxes one way or the other. I would say another really mindful way is to write off your mortgage interest rate or your mortgage interest. Obviously, when you go out and get a mortgage, you are paying interest for the pleasure of borrowing that money, and if you're itemizing, you're able to write off some of that interests, so it's just like a little nice to have. There are certainly some amazing tax credits that you can take if I don't know, I was looking at your keys earlier, but like if you go and get an electric vehicle, you can get a seventy five hundred dollars tax credit.

So, first and foremost is to open up retirement investment accounts, So things like a four oh one K or an ira or a wroth four oh and K and a roth ira are a really easy way to avoid taxes legally. In a four to one K or an ira, the money you put into that account is tax free. You get to save on your tax bill this year. In the future, when you take money out, you'll have to pay taxes on that, but hey, you're only paying taxes on end of that transaction. On the flip side, a wroth four O one K and a wroth Ie array you pay taxes on the front end, but when you take that money out free a charge, so again you're only paying taxes one way or the other. I would say another really mindful way is to write off your mortgage interest rate or your mortgage interest. Obviously, when you go out and get a mortgage, you are paying interest for the pleasure of borrowing that money, and if you're itemizing, you're able to write off some of that interests, so it's just like a little nice to have. There are certainly some amazing tax credits that you can take if I don't know, I was looking at your keys earlier, but like if you go and get an electric vehicle, you can get a seventy five hundred dollars tax credit.

Yep.

Yep.

And that's great savings. That's avoiding taxes legally. And I think people need to remember that the tax code is written in a way that incentivizes, back to the Charlie Munger statement, like incentivizes you to do certain things. Our country wants us to be more green. It wants us to save for retirement and invest for retirement because guess what if you don't, who has to take care of you? The government. They don't want to do that. They want you to have your own money, so that's why they're incentivizing you to do that. They want people to be homeowners. That's why you can have some of that written off. If you are a small business owner, you can write off and essentially get a tax break on expenses because they want people to start businesses and write off things like office space or travel or business meals. And again these are always to avoid taxes legally, but it allows you to also do something that Uncle Sam wants you to do.

And that's great savings. That's avoiding taxes legally. And I think people need to remember that the tax code is written in a way that incentivizes, back to the Charlie Munger statement, like incentivizes you to do certain things. Our country wants us to be more green. It wants us to save for retirement and invest for retirement because guess what if you don't, who has to take care of you? The government. They don't want to do that. They want you to have your own money, so that's why they're incentivizing you to do that. They want people to be homeowners. That's why you can have some of that written off. If you are a small business owner, you can write off and essentially get a tax break on expenses because they want people to start businesses and write off things like office space or travel or business meals. And again these are always to avoid taxes legally, but it allows you to also do something that Uncle Sam wants you to do.

Yeah, actually, that's that's a good one.

Yeah, actually, that's that's a good one.

It's the tax code actually incentivizes people to do things. So, yeah, businesses, real estate and all that, right, Like the more you do, the more tax incentives you get. Correct, Yeah, okay, I made a video on I think, why do people actually like buying fake bags?

It's the tax code actually incentivizes people to do things. So, yeah, businesses, real estate and all that, right, Like the more you do, the more tax incentives you get. Correct, Yeah, okay, I made a video on I think, why do people actually like buying fake bags?

Why do rich people like buying fake bags?

Why do rich people like buying fake bags?

So this came out of a piece I believe in The New Yorker, and it was basically this expose about how these women on the Upper East and Upper West Side of Manhattan, you know, one of the most expensive zip codes in the country, We're going and buying high end fakes. And those are three words you would never think would be in the same sentence, because high end and fake usually are a clash. But as it turns out, a lot of these women who are self made, who make millions of dollars every year, who have supported themselves, built that nest egg on their own, they're saying, why do I need the real thing? I got it like that. People think it's the real thing. And if I'm buying a really really well made fake, nobody knows the difference. So what's the point? Why should I spend twenty five thousand dollars on a bag when I can spend one thousand dollars on the bag have the exact same result, and it almost to them felt like cheating the system of like the you know, the mean girls seen of like you can't sit with us unless you don't have a twenty five thousand dollars bag. But it's like, I've got a bag that looks identical to your twenty five thousand dollars bag, and I'm getting into this club, but I paid a twenty fifth of the price. It's also, you know, a lot of it came down to them saying, like, the only women I know who buy the real thing are people whose husbands made all the money and they don't work, and they chill and they don't actually have a concept of what it took to make that money. But I work. I'm not going to be able to build my wealth spending my money that way. I would rather pay a thousand dollars for the bag and invest the other twenty fourth out And like, I think that speaks a lot to value systems, and I love it. I'm all about it.

So this came out of a piece I believe in The New Yorker, and it was basically this expose about how these women on the Upper East and Upper West Side of Manhattan, you know, one of the most expensive zip codes in the country, We're going and buying high end fakes. And those are three words you would never think would be in the same sentence, because high end and fake usually are a clash. But as it turns out, a lot of these women who are self made, who make millions of dollars every year, who have supported themselves, built that nest egg on their own, they're saying, why do I need the real thing? I got it like that. People think it's the real thing. And if I'm buying a really really well made fake, nobody knows the difference. So what's the point? Why should I spend twenty five thousand dollars on a bag when I can spend one thousand dollars on the bag have the exact same result, and it almost to them felt like cheating the system of like the you know, the mean girls seen of like you can't sit with us unless you don't have a twenty five thousand dollars bag. But it's like, I've got a bag that looks identical to your twenty five thousand dollars bag, and I'm getting into this club, but I paid a twenty fifth of the price. It's also, you know, a lot of it came down to them saying, like, the only women I know who buy the real thing are people whose husbands made all the money and they don't work, and they chill and they don't actually have a concept of what it took to make that money. But I work. I'm not going to be able to build my wealth spending my money that way. I would rather pay a thousand dollars for the bag and invest the other twenty fourth out And like, I think that speaks a lot to value systems, and I love it. I'm all about it.

There's a lot of this red pill content on YouTube right where it's like, yeah, women are supposed to just cook c blah blah blah.

There's a lot of this red pill content on YouTube right where it's like, yeah, women are supposed to just cook c blah blah blah.

There's a trad wife.

There's a trad wife.

Yeah, yeah, trad wife just be you know, just listen and then you know, take orders from the man or whatever. Right, And I'm just like, okay, well, but that's to your point. It's like, no, there are like a lot of women out there that are providing for themselves, right, They're investing.

Yeah, yeah, trad wife just be you know, just listen and then you know, take orders from the man or whatever. Right, And I'm just like, okay, well, but that's to your point. It's like, no, there are like a lot of women out there that are providing for themselves, right, They're investing.

Also, here is my hot take, but I think it's just a really rational take. If you want a traditional wife, then be a traditional man. And I'm talking about obviously heterosexual relationships here, But like you cannot ask for wifey privileges if you like stay at home wifey privileges if you don't have stay at home wify money. Right, Like you want me to clean the kitchen, I'm happy to clean the kitchen. If I get to wake up at ten, I get to clean the kitchen, I get to go lounge by the pool, and then you come home at night, like, sure, no problem. But if I'm waking up at the crack of dawn with you, we're both going to our two very demanding jobs and then coming home. Don't ask me for anything you're not willing to do, because this isn't even like a jab men of like modern day men, but like more and more families cannot make the numbers work without two incomes. Coming into the house. Back in the day, there was you know, this traditional like family. You had a man who was the breadwinner, the woman would stay at home, and a middle class income was enough for you to buy a white pick a fend's house. You would have your golden retriever you're two and a half kids, you would go on vacation twice a year, and by the time you turn sixty sixty five, you'd be able to retire. Great. That doesn't work for most people now because a normal income now is a lot harder to make ends meet. And suddenly your stay at home wife he has to go pick up a job and she doesn't have the hours in the day to be doing those tasks that household labor that was unpaid. And my thing is now is like, if you're both working, if you both have external responsibilities, you're both contributing to the financial wellbeing of the home. You also both need to contribute to the emotional wellbeing of the home. So it's not like I did my wife a favor by doing the dishes. It's like, those are your dishes, you wash them, like, split up the chores, and I will say that's something I am so grateful about my partner when we first started dating. This is also very single child like only child syndrome of me. I like barely knew how to do chores, like because I was very studious. I would kind of like get out of them, and my mom would be like, you need to learn how to cook and clean if you want to keep a man around. I'll be like whatever, like I'll figure it out later. Never figured it out. My fiance taught me how to do a lot of those chores. What we try to do now is like our work ebbs and flows, so like right now, you know, I'm very busy. I'm you know, about to launch rich af my book December twenty sixth, I have to say it. You can pre order at rich aft me. I'm going on tour in January. I'm going to be doing a lot of travel in February for that three month stretch. He's probably going to have to pick up a little bit more of the household labor in our home. But there were times during COVID when you know, my work really slowed down and his work really picked up, and so I was cooking every meal, I was cleaning the dishes, I was you know, washing our laundry. I was the one going to the grocery store to physically pick out the vegetables and the fruit and whatever. Like we just, I don't know, we're in tune. We talk about it. It's like, hey, I need a little bit more. And that's why I hate when partners say we're fifty to fifty partners. It's never fifty to fifty. Some days it's ninety ten. Some days it's seventy thirty. But if you want to be fifty to fifty all the time, you are going to come to a day where your partner can't give fifty and then you're you don't have one hundred, and that's bad.

Also, here is my hot take, but I think it's just a really rational take. If you want a traditional wife, then be a traditional man. And I'm talking about obviously heterosexual relationships here, But like you cannot ask for wifey privileges if you like stay at home wifey privileges if you don't have stay at home wify money. Right, Like you want me to clean the kitchen, I'm happy to clean the kitchen. If I get to wake up at ten, I get to clean the kitchen, I get to go lounge by the pool, and then you come home at night, like, sure, no problem. But if I'm waking up at the crack of dawn with you, we're both going to our two very demanding jobs and then coming home. Don't ask me for anything you're not willing to do, because this isn't even like a jab men of like modern day men, but like more and more families cannot make the numbers work without two incomes. Coming into the house. Back in the day, there was you know, this traditional like family. You had a man who was the breadwinner, the woman would stay at home, and a middle class income was enough for you to buy a white pick a fend's house. You would have your golden retriever you're two and a half kids, you would go on vacation twice a year, and by the time you turn sixty sixty five, you'd be able to retire. Great. That doesn't work for most people now because a normal income now is a lot harder to make ends meet. And suddenly your stay at home wife he has to go pick up a job and she doesn't have the hours in the day to be doing those tasks that household labor that was unpaid. And my thing is now is like, if you're both working, if you both have external responsibilities, you're both contributing to the financial wellbeing of the home. You also both need to contribute to the emotional wellbeing of the home. So it's not like I did my wife a favor by doing the dishes. It's like, those are your dishes, you wash them, like, split up the chores, and I will say that's something I am so grateful about my partner when we first started dating. This is also very single child like only child syndrome of me. I like barely knew how to do chores, like because I was very studious. I would kind of like get out of them, and my mom would be like, you need to learn how to cook and clean if you want to keep a man around. I'll be like whatever, like I'll figure it out later. Never figured it out. My fiance taught me how to do a lot of those chores. What we try to do now is like our work ebbs and flows, so like right now, you know, I'm very busy. I'm you know, about to launch rich af my book December twenty sixth, I have to say it. You can pre order at rich aft me. I'm going on tour in January. I'm going to be doing a lot of travel in February for that three month stretch. He's probably going to have to pick up a little bit more of the household labor in our home. But there were times during COVID when you know, my work really slowed down and his work really picked up, and so I was cooking every meal, I was cleaning the dishes, I was you know, washing our laundry. I was the one going to the grocery store to physically pick out the vegetables and the fruit and whatever. Like we just, I don't know, we're in tune. We talk about it. It's like, hey, I need a little bit more. And that's why I hate when partners say we're fifty to fifty partners. It's never fifty to fifty. Some days it's ninety ten. Some days it's seventy thirty. But if you want to be fifty to fifty all the time, you are going to come to a day where your partner can't give fifty and then you're you don't have one hundred, and that's bad.

I look at it as like Batman and Robin. Sometimes you have to be Batman sometimes he has exactly. There's a couple that comes to mind, so good friends Alex and Leila Hormosi, and I remember once Alex was asked on stage it was like, yeah, you know, I just don't think it makes sense, like all the things like cleaning the dishes and all that stuff, like that's just someone you can hire to help, and like, you want to have someone that's a partner and that can build something with you. And that's a lot more attractive to me, and it seems a lot more fulfilling, which sounds like what you're doing too.

I look at it as like Batman and Robin. Sometimes you have to be Batman sometimes he has exactly. There's a couple that comes to mind, so good friends Alex and Leila Hormosi, and I remember once Alex was asked on stage it was like, yeah, you know, I just don't think it makes sense, like all the things like cleaning the dishes and all that stuff, like that's just someone you can hire to help, and like, you want to have someone that's a partner and that can build something with you. And that's a lot more attractive to me, and it seems a lot more fulfilling, which sounds like what you're doing too.

Like I always say to my fiance, like, I don't have some of these skills. Fortunately, we can outsource for a lot of these tasks that I'm not really good at that I don't enjoy doing. I would rather spend an hour that I could have been doing the dishes and folding the laundry and spend that extra hour doing something that's going to contribute to my business that will then pay for services that can help us with that, because one of them I enjoy doing and the other one I dread, and I'd rather do the one that I like.

Like I always say to my fiance, like, I don't have some of these skills. Fortunately, we can outsource for a lot of these tasks that I'm not really good at that I don't enjoy doing. I would rather spend an hour that I could have been doing the dishes and folding the laundry and spend that extra hour doing something that's going to contribute to my business that will then pay for services that can help us with that, because one of them I enjoy doing and the other one I dread, and I'd rather do the one that I like.

What what's in your portfolio right now? And you what are you most most excited about in your portfolio as well?

What what's in your portfolio right now? And you what are you most most excited about in your portfolio as well?

Listen, people want to hear that, like there's something really exciting. It's pretty boring. I am consistently invested in index tracking ETFs. I've got some target date retirement funds in my retirement accounts. I think the only thing that is more exciting a little bit riskier, because again I'm still in my twenties, like I'm young. I've got time to take some risks. My fiance is employed at a private equity fund, so we are making some co investments. For the most part, still, the vast majority of our money is in public equities, and you know, I think that's how it really should be for most people. It's just like that's slow and steady. There isn't some specific stock or ETF that you're going to buy and tomorrow suddenly you're a millionaire. Like that doesn't work like that.

Listen, people want to hear that, like there's something really exciting. It's pretty boring. I am consistently invested in index tracking ETFs. I've got some target date retirement funds in my retirement accounts. I think the only thing that is more exciting a little bit riskier, because again I'm still in my twenties, like I'm young. I've got time to take some risks. My fiance is employed at a private equity fund, so we are making some co investments. For the most part, still, the vast majority of our money is in public equities, and you know, I think that's how it really should be for most people. It's just like that's slow and steady. There isn't some specific stock or ETF that you're going to buy and tomorrow suddenly you're a millionaire. Like that doesn't work like that.

That's funny.

That's funny.

I don't know if your parents did this, but growing up, they would always be talking about these random stocks. I'm like, you guys don't know anything about these companies and they're just buying an invite.

I don't know if your parents did this, but growing up, they would always be talking about these random stocks. I'm like, you guys don't know anything about these companies and they're just buying an invite.

They're just trading, right.

They're just trading, right.

It's like going to your other like your auntie and uncle's house, who which, by the way, we're not related to, and they would literally play majong gamble and then talk about random stocks. And I'm like, none of you have ever actually researched any of this, So I think, you know, in Chinese culture, the concept of like luck and gambling is like a pretty big thing, and I think a lot of our parents and our older family members attribute investing to luck and gambling, which if you're actually a responsible investor, it's not anything like gambling.

It's like going to your other like your auntie and uncle's house, who which, by the way, we're not related to, and they would literally play majong gamble and then talk about random stocks. And I'm like, none of you have ever actually researched any of this, So I think, you know, in Chinese culture, the concept of like luck and gambling is like a pretty big thing, and I think a lot of our parents and our older family members attribute investing to luck and gambling, which if you're actually a responsible investor, it's not anything like gambling.

I actually never thought of that perspective before.

I actually never thought of that perspective before.

It's like they're going to gamble to talk about gambling, literally like everybody loves tamajong.

It's like they're going to gamble to talk about gambling, literally like everybody loves tamajong.

Yeah, yeah, totally true. So the book? Why a book? And why now?

Yeah, yeah, totally true. So the book? Why a book? And why now?

Because, like we talked about the pre show, it's like, you're on the grind right now.

Because, like we talked about the pre show, it's like, you're on the grind right now.

Push is hard.

Push is hard.

I am on the grind, So why a book? It was really just because the BFFs kept asking me for one. I think the way my content is formulated and formatted it's helpful. It's short form, it's quick and easy, but it only helps with that one specific thing per day. A lot of my BFFs were DM me commenting, saying things like where's the buck? And I was like, what do you guys want in this? And they said, we want something where we can read from page one to the very last page and just be better with our money. We don't want to have to watch a bunch of videos. We don't want to jump around topic. We want to go from A to Z. And so the book is a really easy road map of if you have no idea where to start, and you read it from the very first to the very last page. I hope you walk away more confident, more capable, and just more ready to take on that financial journey. It touches all of the baseline points but also dives into some detail in a way that I just can't do in a sixty second video. And it gives people the opportunity to say, Hey, I'm now on my feet, I have a jump off point. Where can I go from here?

I am on the grind, So why a book? It was really just because the BFFs kept asking me for one. I think the way my content is formulated and formatted it's helpful. It's short form, it's quick and easy, but it only helps with that one specific thing per day. A lot of my BFFs were DM me commenting, saying things like where's the buck? And I was like, what do you guys want in this? And they said, we want something where we can read from page one to the very last page and just be better with our money. We don't want to have to watch a bunch of videos. We don't want to jump around topic. We want to go from A to Z. And so the book is a really easy road map of if you have no idea where to start, and you read it from the very first to the very last page. I hope you walk away more confident, more capable, and just more ready to take on that financial journey. It touches all of the baseline points but also dives into some detail in a way that I just can't do in a sixty second video. And it gives people the opportunity to say, Hey, I'm now on my feet, I have a jump off point. Where can I go from here?

Got it? What outcomes would you like from the book?

Got it? What outcomes would you like from the book?

I want people to have healthier budgets. I want people to have more in savings. I want them to go demand, not ask demand raises. I want them to be investing for their futures.

I want people to have healthier budgets. I want people to have more in savings. I want them to go demand, not ask demand raises. I want them to be investing for their futures.

Love it and people can preorder it on Amazon.

Love it and people can preorder it on Amazon.

You can pre order it anywhere basically that you get a book, but if you want a aggregate list of all the places that offer it, you can go to richaf dot me. I made the url a manifestation because I want to be rich or JF dot me, and it's an easy little hub where you can find the right copy for you, whether that be a hardcover copy and ebook audiobook, or even the international edition that services people who live outside of the US.

You can pre order it anywhere basically that you get a book, but if you want a aggregate list of all the places that offer it, you can go to richaf dot me. I made the url a manifestation because I want to be rich or JF dot me, and it's an easy little hub where you can find the right copy for you, whether that be a hardcover copy and ebook audiobook, or even the international edition that services people who live outside of the US.

You talked about, I think in a video with Eric Way from Carrott, how you made three million bucks on TikTok?

You talked about, I think in a video with Eric Way from Carrott, how you made three million bucks on TikTok?

How did that happen? That's three million in aggregate?

How did that happen? That's three million in aggregate?

Right, So last year my business cleared three point two and everybody gets so excited about that number because it's huge, right. I think a lot of people think that means I have three million, three million dollars and I put it in a bucket, not how that works at all. What people don't realize is that when you have a business as and I'm very fortunate booming is mine, you're not doing it on your own. I have I'm repped at an agency, so they take somewhere between ten to fifteen percent of every dollar I make, depending on the sector. I have a management team they take ten percent of everything I make. I have an attorney who takes five percent of everything I make. So that's twenty five to thirty percent off the top before anything happens. Okay, so we're already down to like two Then I have to pay for expenses, so that's things like my business manager that's a monthly retainer. That's like my publicist that's a monthly retainer. Then I have to pay my newsletter writer. Then I have to pay my social media manager. Then I have to pay my assistant. Then I have to buy twenty two thousand dollars with a camera equipment to trick out the studio in my apartment because my business is content. Then I have to pay to travel to certain events because they're good for my career. Then I have to pay for the hotels once I'm at the place to get the you know that done. When I'm invited to events, I have to get hair and makeup done because I can't show up to something like this looking jank or busted, you know, like, there's so many expenses that people don't realize that when you are not a W two employee, I don't have a corporate car that some invisible boss pays like I am the boss. I pay those expenses, and after all those expenses, the government still takes pretty much half of it. So do I have an incredible business? Yes? I did. I make three point two million dollars in my business last year. Yes, you want to know what I paid myself about three hundred thousand dollars. It's a lot of money. Don't get me wrong, but it's a really different number than the one that people love to talk about.

Right, So last year my business cleared three point two and everybody gets so excited about that number because it's huge, right. I think a lot of people think that means I have three million, three million dollars and I put it in a bucket, not how that works at all. What people don't realize is that when you have a business as and I'm very fortunate booming is mine, you're not doing it on your own. I have I'm repped at an agency, so they take somewhere between ten to fifteen percent of every dollar I make, depending on the sector. I have a management team they take ten percent of everything I make. I have an attorney who takes five percent of everything I make. So that's twenty five to thirty percent off the top before anything happens. Okay, so we're already down to like two Then I have to pay for expenses, so that's things like my business manager that's a monthly retainer. That's like my publicist that's a monthly retainer. Then I have to pay my newsletter writer. Then I have to pay my social media manager. Then I have to pay my assistant. Then I have to buy twenty two thousand dollars with a camera equipment to trick out the studio in my apartment because my business is content. Then I have to pay to travel to certain events because they're good for my career. Then I have to pay for the hotels once I'm at the place to get the you know that done. When I'm invited to events, I have to get hair and makeup done because I can't show up to something like this looking jank or busted, you know, like, there's so many expenses that people don't realize that when you are not a W two employee, I don't have a corporate car that some invisible boss pays like I am the boss. I pay those expenses, and after all those expenses, the government still takes pretty much half of it. So do I have an incredible business? Yes? I did. I make three point two million dollars in my business last year. Yes, you want to know what I paid myself about three hundred thousand dollars. It's a lot of money. Don't get me wrong, but it's a really different number than the one that people love to talk about.

I was about to say thirty grand Oh.

I was about to say thirty grand Oh.

Yeah.

Yeah.

I mean, because you start like when you're.

I mean, because you start like when you're.

Starting it off, you know, like you're putting it all that.

Starting it off, you know, like you're putting it all that.

I felt confident enough that I was able to pay myself a really, really meaningful but responsible salary. But my salary is not like ten X. You know, my my full time employees, they're relatively within realms of reality. And that's because not all of that money goes to me from the business. I want to reinvest it, and to reinvest it like I have to spend that money

I felt confident enough that I was able to pay myself a really, really meaningful but responsible salary. But my salary is not like ten X. You know, my my full time employees, they're relatively within realms of reality. And that's because not all of that money goes to me from the business. I want to reinvest it, and to reinvest it like I have to spend that money