308:[Jennifer Lee] Ai Review

Today, we're diving into the fantastic ideas of Jennifer Lee, who really shakes up how we think about financial planning. The main takeaway? Financial planning isn’t just about stacking cash like it's a game of Monopoly; it’s about protecting the things that matter most—your family, friends, and the life you want to live. We’re also tackling the unique challenges faced by the sandwich generation, juggling responsibilities for both kids and aging parents. Jennifer's mantra, “Assess, day, adjust, and squeeze the juice,” reminds us that we only get one shot at this life, so let’s make it count! Stick around as we explore how understanding your money story can lead to a more intentional and fulfilling life—because at the end of the day, it’s not just about the numbers; it’s about living your best life!

Takeaways:

• Financial planning is not just about numbers; it's about prioritizing what truly matters in life.
• Jennifer Lee emphasizes the importance of financial empowerment, especially for the sandwich generation.
• Understanding your own money story can illuminate your current financial behaviors and choices.
• Creating a family love letter helps communicate your values and wishes beyond just financial assets.
• It's essential to include everyone in financial discussions to ensure competence and accessibility.
• Life throws curveballs, so thorough planning, including legal documents like QDROs, is crucial for unexpected events.

Links referenced in this episode:

https://modern-wealth.com

https://squeezethejuicebook.com

Thank you for tuning in! Your support helps us empower more people to build strong financial habits and engage in meaningful conversations about money.

📩 Join the About That Wallet Monthly Newsletter for budgeting tips, saving strategies, and more:

👉 https://aboutthatwallet.com/newsletter

✨ Follow Anthony Weaver:

Instagram: @AboutThatWallet

Twitter: @AboutThatWallet

Website: aboutthatwallet.com

⚠️ DISCLAIMER:

This content is for educational purposes only and is not financial advice. Always consult a licensed financial professional when needed.

Episode 308 (bonus)

Episode Transcript

(00:00):
Welcome to the deep dive.
Today we're really digginginto some key ideas from Jennifer
Lee.
She wrote Squeeze the Juiceand was on episode 308 of about that
Wallet.
Right.
And our goal here is to pullout the absolute essentials.
Exactly.
Especially for you if you'remaybe part of that.
You know, the sandwichgeneration, balancing care.

(00:21):
For kids and parents.
It's a lot.
It is.
And we want to look at howfinancial planning isn't just spreadsheets
and numbers, but really how ithelps you build the life you actually
want.
Yeah.
Moving past just the basicadvice, we're looking at the why,
why we make certain moneychoices and how that connects back
to what's truly important.
Getting the most out of life, really.
Okay, so Jennifer Lee's coreidea, her philosophy, it's that financial

(00:45):
planning isn't just about,like piling up money.
No, not at all.
It's more fundamental.
It's about protecting what youcare about most, your family, your
friends, maybe your.
Business experiences, thingsthat actually make up your life.
And she has that great mantrain the book, Assess, day, adjust
and squeeze the juice.
You have one life.
Yeah.
Go live it.
I like that.
Me too.

(01:05):
It frames finance as, well, away to take care of people, your
spouse, kids, parents,business partners, both right now
and, you know, down the road.
And that really resonates forthe sandwich generation, doesn't
it?
Because financial empowermentfeels extra critical when you're
pulled in so many directions.
Absolutely.
And what's interesting is herfocus on the.

(01:26):
She calls it the non moneyedparty in a relationship.
Meaning the person who maybedoesn't handle the day to day finances.
Exactly.
And she points out,statistically, women often outlive
their partners and they oftenbecome the main caregivers.
So it's just crucial thateveryone understands the finances.
Right.
Not just one person.
It's about competence, youknow, making sure everyone feels

(01:48):
capable and the tools are accessible.
It's not about who's smarter,just who has the information.
Okay, so instead of budget,she talks about a spending plan.
What's the shift there?
Is it just words or something deeper?
Oh, I think it's deeper.
It's less about restriction,like you said earlier, and more about
understanding what you have atyour discretion.
Okay.
Knowing what's actuallyavailable to choose with.

(02:10):
Right.
So then the question for youbecomes, how do you want to use that
discretionary money?
Big goals like retirement,shorter term things like a family
trip or even, you know, thedaily stuff like coffee or whatever.
Because as she says, if you don't.
Know where you're going,you're never going to get there.
It's about being intentional.
And she gives a couple ofquick wins, right?

(02:31):
Yeah.
The low hanging fruit.
Yeah.
Two really important ones.
First, always, always get thefree money from your 401k or 403b
match.
Don't leave that on the tablelike that 5% match on a $60,000 salary.
It's real money.
It absolutely is.
And second, look into a RothIRA if you're eligible.
These are foundational things,but sometimes overlooked.
Second, simple but powerful.

(02:53):
Okay.
Another concept she brings upis the family love letter.
That sounds intriguing.
It is.
It's not just a list of assetslike here's the bank account number.
It's more about communicatingyour values, your hopes for your
loved ones.
So the why behind the money again?
Exactly.
But also practical stuff,where things are passwords, who your
key contacts are.
It's about taking care of yourpeople if something happens to you.

(03:15):
Leaving a real legacy of care,not just assets.
That connects to understandingyour own money story too, doesn't
it?
Your first memory of money.
Definitely.
She shared hers.
Selling cards to buy a skateboard.
Learning effort equals reward.
Understanding those earlyexperiences can really shed light
on how you handle money now.
Right.

(03:35):
Those patterns often stickwith us, whether.
We realize it or not.
Yeah.
Okay.
Life isn't always smooth sailing.
What about unexpected thingslike divorce?
She mentioned something calleda qdro.
Yes, a qualified domesticrelations order.
This is super important andoften missed.
It's a specific legal documentsigned by a judge.
Signed by a judge?
Yes.

(03:55):
It's absolutely necessary tocorrectly divide retirement assets
like pensions or 401 s in a divorce.
Without it, things can getvery messy, legally and financially.
So it underlines the need forreally thorough planning, even for
the tough stuff.
For all of life's big steps, really.
So bringing it all together,this idea of squeezing the juice,

(04:16):
what's the big takeaway?
For Jennifer Lee, wealth isn'tjust about the dollar amount.
It's about freedom.
It's about having options.
It's about flexibility, theability to actually.
Live the life you want, guidedby your values.
That's it precisely.
So for you listening, whatdoes all this mean?
Well, this deep dive reallyhighlights that good financial planning

(04:37):
is personal.
It's about aligning your moneywith your.
Values, protecting your loved ones.
Especially if you're in thatsandwich generation.
Squeeze and giving yourselfthat freedom, that flexibility to
live fully.
We've talked about howplanning helps you squeeze the juice
out of life.
So maybe ask yourself, what'syour definition of wealth and what's
one small thing you could dotoday to move closer to that.

(04:59):
We really encourage you tocheck out the full discussion on
about that Wallet with guestJennifer Lee.
You can find it on Apple,Spotify, wherever you get your audio
and let.
Us know what you thought ofthis deep dive.
Yeah.
Please leave us a five star review.
If you found this helpful andshare your thoughts, we'd love to
hear them.