EPS 49 - Women’s Money Roundup: Lasso That Bull & Take Control

So many women are told “don’t worry, he’s taking care of it” — right up until the moment the money’s gone. In this episode, Jerry welcomes back his friend and longtime finance pro Grace for a candid conversation about why women so often feel intimidated around money and how to change that, starting today.

Jerry shares real-life stories: a woman inheriting $200,000 and unsure what to do next, another terrified her brother (with power of attorney) is draining their father’s accounts, and widows who find out after a death that survivor benefits or life insurance were never put in place. Grace adds her own experiences as a shy, non-confrontational woman learning to negotiate for a car, push back on high-commission products, and ask the hard questions advisors don’t always want to answer.

Together they break down red flags when choosing an advisor, what to ask about fees and credentials, why big firms can offer important safeguards, and why “If it’s a good deal today, it’ll still be a good deal tomorrow” is your new favorite line. Whether you’re carrying debt, just starting with $50/month, or managing a larger nest egg, this episode is all about helping women stop feeling scared, start interviewing advisors like a boss, and actively participate in the money decisions that shape their future.

Visit pinkmoneypodcast.com for companion posts and a checklist of smart questions to ask any financial advisor before you sign on the dotted line.

💬 Have a question or comment? Contact Jerry here

Episode Transcript

SPEAKER_03 (00:01):
The following podcast is for entertainment and
educational purposes only.
Remember to seek competent tax,legal, and investment advice
that is unique to your personalsituation.

(00:29):
Hey everybody, and welcome tothe Pink Money Podcast.
I'm your host, Jerry Williams,and we talk about all things
related to money from a queerperspective.
And today I brought on uh one ofmy friends who I think she's
such a good person to bouncethis kind of topic off of off
of, which is today I'm gonna betalking about things that are

(00:52):
related or specific to women.
Doesn't mean anybody can'tlisten and pick something up,
but I'm gonna kind of gear theconversation towards women.
How you doing, Grace?

SPEAKER_00 (01:04):
Good.
I'm so glad to be here with you.

SPEAKER_03 (01:07):
I'm thrilled that you're here.
We haven't spoken for a littlewhile.
In fact, I think you know, thefirst episode that we did,
period, was I think about two,maybe even three years ago.
Does that sound about right?

SPEAKER_02 (01:22):
It was.
Yeah, it was, yeah.

SPEAKER_03 (01:24):
It's been a long time.
But you know what?
The episodes that I think youdid three with me that I can
recall.
But anyway, those seem to doparticularly well.
Out of all that I've done.
Yeah, they they seem to get alot of a lot of attention,
especially the one that we didabout credit.

(01:44):
That seems to really do well.
I don't I don't mean it mustresonate, obviously, with people
or otherwise they wouldn'tlisten.
But you know.

SPEAKER_00 (01:52):
Right.
That's a big that's a bigimportant topic.

SPEAKER_03 (01:54):
Yeah, and speaking of of uh back episodes before I
forget, if anybody listeningwants to go check out back
episodes, you can go to thewebsite at www.pinkmoneypodcast,
all one word dot com.
And then you can go to thewebsite, you can check out the
whole entire episode list thatgoes back there, you know, since

(02:20):
the beginning, and you canlisten to all of them, some of
them, whatever attracts yourattention.
But there's also stuff on thewebsite that I'm just gonna plug
right now, like companion poststhat I put up, which are, you
know, if I forget something inan episode or I want to talk
more about it, then I'll post acompanion post and you can find
that link.
And there's also a lot of otherdifferent tabs that you can go

(02:42):
on there and check out.
So anyway, there's my plug formy website.
So check it out.
And there's one last thingbefore I forget as well.
There is a new card that Icreated called a show card.
I call it a show card, but youcan email it, text it.
You know, it has a QR code onit.
So if you want to share thepodcast with someone, you can do
any of those things.

(03:03):
Or like I said, I'm not exactlyhow sure how the QR codes work,
but I guess you just take apicture of it with your phone,
and I guess you can share itthat way.
But anyway, it's on there, andyou can find that on the about
section of the website.
So that's that.
Anyway, Grace, the reason Iwanted to do this particular

(03:25):
podcast is I have run into a fewpeople recently, particularly
women, like I mentioned, andI've listened to their stories
and it's actually bothered me.
Bothered me in the sense that Ifeel like they are very
intimidated by handling theirown money and being able to

(03:48):
direct their own money the waythat they see fit.
And what I mean by that is Italked to a woman probably in
her, I'll say 40s, and then Ispoke to another lady, and she
was probably, I'll say, in her70s.
So both of them had differentstories.

(04:08):
In one, the younger one had justinherited, I think, around
$200,000, and she wanted to getadvice on not from me
particularly, but she wanted toget advice on how to invest that
money, and she was even thinkingabout using part of it to open a
hair salon.
And then the older lady, we werejust we struck up a spontaneous

(04:29):
conversation, and she wastelling me about how she moved
over here to Austin, and shemoved here because her daughter
and her grandchildren were here.
But her story really was thather father was very, very ill,
and her brother was handling thefather's finances, and he was

(04:50):
the power of attorney for thedad, and she was very worried
that he was gonna mishandle themoney from her father, and so
she was concerned about himhaving all that power and her
being so far away and not reallybeing able to do much about it.
And it sounded like obviouslythere's a little bit of trust
issues there, but then she wenton to tell me even more that her

(05:13):
husband passed away and herbrother-in-law, her
brother-in-law took advantage ofher.
I'm not even sure if it was herex-husband or husband, but
anyway, when he he died, that hetook all of our money.
And so she was basically leftwith nothing.
I mean, she's on socialsecurity, that's how I that's
what I took from it.

(05:34):
And like I said, now she'sfacing losing the inheritance
from her dad.
So both of those are, you know,to me different, obviously
different stories, but differentsituations that really require
somebody who's really got yourbest interests at heart.
And I think, like I said, womenin particular get taken
advantage of.
And I don't, you know, I you youand I have both seen that,

(05:57):
right?
I mean, you've you've seen thatplenty of times, I'm sure.

SPEAKER_00 (06:02):
You know, I I was just as you were telling this
story, I was thinking about thisis kind of off topic, but you
remember when I bought my Camaroand I was so excited, but I was
so nervous because it's my firstbig purchase, the first new car
I'm buying.
Yeah.
And I went to the first dealerand they were kind of, I don't
know, the guy let me sit thereby myself for like two hours and
I ended up not buying the car.

(06:24):
And I went to the next dealerand I literally sat in the car
for like 10 minutes, lookingmyself in the mirror, saying,
You got this, they're just guys,they can't eat you, you can
handle this.
And I think about the same waywhen with so many with just not
with finances, but witheverything that we face, the
intimidation when when we don'tknow what we're getting into, or

(06:44):
the sales pitch that we mighthave that they might, you know,
we might get taken advantage ofbecause of that pitch that we're
not prepared for, or that maybewe're inadequate in the
knowledge of what we're lookingat and how overwhelming it can
be.
And so yeah, I think all ofthose things start to come into
play in any scenario.
But just like you were talkingabout with especially the one
whose brother-in-law is takingadvantage of or how horrible.

SPEAKER_03 (07:06):
Yeah, but you know, what what do you do?
You know, really what do you do?
Because, you know, I wasthinking, if what would I do if
I was in that situation?
And I was thinking, well, youknow, she could probably call
adult protective services andreport not necessarily abuse per

(07:26):
se, but you know, maybe reportthe situation and say, I'm
worried about him uh mismanagingmy father's money because he's
incapacitated or unable to doit, you know, whatever the
situation is.
That may be a way for them tostep in and be a third party and
go, hey, what are you doing?

(07:48):
You know, why are you movingmoney and taking money out?
And where did this money go?
That could be that could be oneway, you know, not saying that's
the best way, but it's a way,you know.
I don't know.

SPEAKER_00 (08:00):
I think it'd be the only way that you could get
somebody legally involved to beable to handle it because
otherwise you're going to courtand it's probably going to be
too late by the time that youdo.
So to have someone with theadult protective services, I
think that's a a great startingpoint.

SPEAKER_03 (08:14):
Yeah.
And you know, the other thing Iasked her was, does he have a
will?
And she said, you know, hedoesn't.
And she's I can't remember whyshe told me he didn't, but it
doesn't matter.
He doesn't.
So I told her, you know, thereare laws that distribute assets

(08:34):
a certain way, and when hepasses away, if the brother is
the executor of the estate, youknow, he has to go get letters
of testamentary and he has to,depending on the size of the
estate, you know, go throughprobate court.
So there will be somebodyoverseeing the distribution of
the assets, but that stilldoesn't guarantee that he hasn't
spent them, hid them, whatever.

SPEAKER_00 (08:55):
Right.
Exactly.
So he has access to it now whilethe dad is still living.
He could dwindle it or move itany way he wants to because he
has all the control over that.

SPEAKER_01 (09:06):
Yeah.

SPEAKER_00 (09:06):
There's also no way for her to know if he sets up
things like POD or TOD, thepayable on death, they're
transferable on death, yeah.
To transfer it to himselfoutside of a will where a will
wouldn't even be relevant.
There's no way for her to knowany of that.

SPEAKER_03 (09:19):
And and you know, who who's to say if he doesn't
forge the dad's signature?
You know, could happen.

SPEAKER_00 (09:25):
That's true too.
That's true.

SPEAKER_03 (09:27):
You know, I mean, are they really looking?
Because, you know, when I thinkback on, you know, working
inside of the business, as I'llsay, sounds like show business.
I mean, like, you know, thefinancial business.
Um, you know, they'reoverwhelmed.
They're not overwhelmed, that'snot the right word, but they've
got thousands of things thatthey're handling on a day in,

(09:49):
day out basis.
And they try to dot their I's,cross their T's, and be as
careful as they can.
But, you know, they really don'tknow what's exactly happening
because these people aren'tsitting right in front of them,
right?
So you can't really look them inthe eye and you know get a feel
for are they, you know, are theydoing the right things?
Because anybody can call intoany financial services company

(10:11):
and say, hey, you know, I needthese forms for this reason, and
they send out the forms, theycomplete the forms and they send
them back and they're signed andeverything, and then they act on
them.
You know, so they don't know whoreally, really signed it.
They weren't there, they didn'tsee it.
And I'm not saying that peopleare all that shady, but there
are a lot of shady things.
Yeah.

SPEAKER_00 (10:32):
And and let's face it, anytime we're dealing with
someone else's money, you know,we always talk about how
weddings and funerals bring outthe crazy in people.
So people have all these goodintentions, but then as soon as
someone passes away, the greedsets in.
So also does you know, itmatters if this gentleman has
power of attorney, if he evenhas access and control, and then
to what extent.

SPEAKER_03 (10:53):
Yeah, right.
Exactly.
Yeah.

SPEAKER_00 (10:55):
Because it may already be legally set up for
him to do that.
If it wasn't, then that meanssomehow he was able to obtain
that.

SPEAKER_03 (11:01):
Right.
You know, when when my mom, youknow, she has dementia and she's
86 now, but a few years back,you know, when I realized things
were progressing faster than youknow I expected, I made sure
that all of her financial estateplanning documents were all set

(11:22):
up.
And including her hesitancy todo a will.
And I said, Mom, you know, youhave to do it because it's it's
that important that thedistribution of your assets goes
the way that you want.
So I literally had to take herto an estate planning attorney
and make sure that it was done.

(11:42):
Her kind of kicking andscreaming, in the sense that a
lot of people are very hesitantto do those documents for
whatever reasons.
You know, they think it it'sgonna, you know, hasten their
demise, or they just don't wantto think about, you know, if I'm
not here, how thing it doesn'tmatter.
But I may I had to take thatextra step.
And it reminds me of gettingthis lady, and I said, you may

(12:04):
have to sort of, I don't want touse the word force, but you
know, force dad to do it, youknow, because you need to do it.
And then even if there is a willthat's created, you don't have
access to it, right?
Maybe it's in a safety depositbox, or you know, the
brother-in-law takes it and hehides it, tears it up, whatever.
So there has to be like a copythat you have, she, you know,

(12:24):
this lady has, or you know, ifthis person is important to you.
And it doesn't mean that thatwill cannot be overridden by a
new one.
But it they again they wouldhave to produce a new one.
But nevertheless, my whole pointis that if it's important to
you, then you need to make itimportant to them.
And especially if we're talkingabout a large amount of money,

(12:46):
let's say, you know, a fewmillion or even a million, you
know, whatever is important toyou.
I would say, you know, you needto sort of level with that
person, and if you can't getthem to do it by them just you
telling them, there has to besomebody who has a level of
influence maybe over them, andespecially do it before they
don't they lose theircompetence, and then that

(13:09):
writing of that will just reallythen didn't do anything because
you know they weren't competentto sign it.

SPEAKER_00 (13:15):
Right.
And and as we mentioned earlier,not just the will but the other
documents, because you can setsomething up through your bank
and it never even goes throughthe will.
But you know, this is somethingthat we hear about all the time
with there was a I can'tremember the Anna Nicole Smith,
was that her name who marriedthe Yeah, the m the old
gentleman with lots and lots ofmoney.
And of course there that wholething, the estate wasn't set up

(13:38):
the way it should, and there wasa fight between the family.
So this is something that youhear about often.
The unfortunate part is ifyou're dealing with a lesser
amount, then being able to findsomeone who's going to assist
you and take the the things thatyou have into consideration, I
think becomes difficult.
So maybe it's the the costfactor, maybe it's the not
knowing what to ask, but itbecomes a really big deal.

SPEAKER_03 (14:01):
Yeah.
You know, when I was talkingabout the the the girl, like I
said, who inherited the 200grand, she even had some, I
guess there was some rockyrelationships between her and
her siblings, and I'm not evensure she got the full amount
that she was expecting, butshe's lucky she got what she

(14:22):
got.
I mean 200 grand is stillhundred two hundred grand, but
sure who knows, you know, again,if there's an executor handle
handling the estate and you'renot around, who knows what
happens to all that, you know,money and the assets that belong
to the the estate, you know, whoknows?
You know, it they could doanything with them.
But anyway, um my point that Iwas trying to tell her and the

(14:47):
other lady as well is it reallybehooves you to speak with
somebody who is knowledgeableabout these things and getting,
and I say say this a lot, butgetting a good financial advisor
and a good attorney, you know,specific attorney, whatever you
need, let's say real estate orestate planning or what have
you, you know, is really kind ofworth their weight in gold.

(15:09):
And you you kind of get what youpay for, but it doesn't mean
people are bad if they're quoteunquote free, but you just have
to realize that, especially ifthis person's giving you free
advice, are they doing it out ofthe goodness of their heart or
because they have some sort offinancial interest in you know

(15:31):
helping you?
You know, and I say like when Italk about going to an
investment advisor, and if thefirst question they ask you is
how much money are we talkingabout, you know, that might be a
red flag to me that maybe thatperson's not really looking out
for your best interest, buttheir best interests.

SPEAKER_00 (15:52):
Exactly.
And I think both of us, justfrom our history, we know that
there's different ways thatpeople will make money in this
business.
And and I'm I think that'sgreat.
I'm I'm all for people makingmoney, all for people getting
their commission.
No problem with that whatsoever.
But I do think it's so importantthat people are with someone
they trust because thecommission game, especially with
insurance products, can be sorewarding for the person selling

(16:16):
them and not always in the bestinterest of the person buying
the product.
So I think you're absolutelyright when the first thing they
talk about is money, how largeis your estate, what type of
investment assets are we talkingabout, how much coverage do you
need?
Those are some of the red flagsfor the cost of what you're
gonna be paying them.

SPEAKER_03 (16:35):
And another thing too, like when you said about
your vehicle, you know, buyingthat car.
Now, I mean, I know, like yousaid, everybody's gotta eat,
right?
But when you go to your doctor,and I say this about this
podcast specifically, becausepeople will say, well, what
makes money gay?
And I'm like, nothing.
Nothing makes money gay.

(16:56):
It's green, it's green, right?
It then nothing's gonna changethat.
Even if you paint rainbows onit, it makes no difference.
You know, it's money.
But what is different is how youreceive that information, and is
it from a trusted source, and isit from somebody who you
basically see eye to eye with?
So my point being is if you're awoman and you feel intimidated

(17:20):
by men and you'd rather workwith a woman, ask for one.

SPEAKER_02 (17:25):
There you go.

SPEAKER_03 (17:26):
I mean, just say, hey, uh, you know, I it's not
that I dislike you, I don't knowyou, nothing personal, but is
there a woman that has that Iwould be able to speak to?
You know, just like if you go tothe doctor, I mean you can
choose your choice of you know,physicians or gynecologists or
whatever.
Pick a woman.
I my mom did at all times.

(17:47):
She was like, I don't want to goto a man.
I'm like, well, go to whoeveryou like, you know.

SPEAKER_00 (17:51):
Exactly.
Just like you said with medical,also, I mean, even when I go to
get a massage, the same way.
Okay, what do you prefer?
It's okay to have a preference,that's all right.

SPEAKER_03 (17:59):
Yeah, it all depends on you how you say it.
You don't want to be a jerkabout it, like, oh, you know,
you're a man, I don't like you,you know.
You know what I'm saying?
There's a will, there's a way,but I'm just saying, yeah, ask
for what you want and don't gointo that feeling super
intimidated because again, it'syour money, you know.
And you can obviously you can betaken advantage of by a woman as

(18:21):
well.
But you know, that once you pickthat woman, let's say, you still
need to do your due diligenceand find out and ask the right
questions about this person.
What is your background like,what's your education like, what
kind of clients do you typicallyhelp, etc.
etc.
You know, ask.
There's nothing wrong with that.

SPEAKER_00 (18:40):
Yeah, you're do do your interview.
You're still interviewing them,they're doing you a service.
They're you're the one gettingthe service from them.
So they need to fit yourcriteria, answer your questions,
and the moment that you get anypushback or any kind of feeling
as if you're bothering them orwasting their time, then let
them go.
There's there are plenty ofpeople out there that can help

(19:01):
you with the different financialgoals you're working on.

SPEAKER_03 (19:03):
Right, right.
And you know, I remember plentyof times when it didn't happen a
lot, but there would be peoplewho you would speak with
sometimes and they would askfor, especially, you know, when
I first started, people thought,well, this guy sounds really
young, you know.
And they would say, you know, doyou have someone who has a
little bit more experience?

(19:24):
And I'd say, yeah, you know, butif you want, you know, I can ask
you some questions and see ifI'm able to help you out if you
feel that I'm not doing a goodjob or you know, not able to get
your trust, then sure, I couldput you in touch with someone
else, you know.
That never hurt my feelings atall.
I didn't take it.
You know, it is what it is.

SPEAKER_00 (19:44):
Do you I figure it's it's just the way that it goes.
People with in the especially inthe financial business, we
expect what I was told was onceyou have a little bit more of
this, and the gentleman postpointed to his gray hair, then
your business will come.
And I thought, you know, it'sit's one of those things that
people trust, people who havemore experience in the business.
Yes.
But I also think it also dependson who you know that's doing

(20:06):
business.
You know, in the sales world, werefer we rely on referrals so
often because it's the word ofmouth is the best, right?

SPEAKER_01 (20:13):
Yeah.

SPEAKER_00 (20:14):
But I think you can also trust if you know that you
know your girlfriend went tothis person and was able to get
the comfort and the help and theresults that they were looking
for, then it makes you morecomfortable there.
So using your community and yournetwork that way is is also
beneficial.

SPEAKER_03 (20:28):
For sure, 100%.
Because their experience, youknow, I hate to say it's kind of
like um Yelp, etc.
You know, it's not that you haveto take it verbatim, but if
they've posted all thesenegative reviews, I think that
would be a warning sign to me.
So if you're going up to peopleand they say, steer clear of
this, you know, guy, he's youdidn't do me good, then I would

(20:50):
probably take that to heart andmove along.

SPEAKER_02 (20:52):
Definitely.

SPEAKER_03 (20:53):
Yeah, and you know, it reminds me that even just
yesterday, okay.
So I was speaking with a friendof mine who called me and told
me I that a friend that we usedto work with years and years and
years ago, she passed away, andit was very unfortunate.
Her daughter couldn't hadn'tspoken with her mom and wouldn't
house, and her mom was lyingthere on the floor, and you
know, just terrible.

(21:14):
But anyway, the point I wasmaking is so he called me and we
had that conversation, and thenwe just continued talking
because we hadn't spoken to eachother for a while, and he told
me that he was gonna be retiringin March and he was gonna be
rolling over like$380,000.
So, you know, a fairlygood-sized chunk of change,
right?

(21:34):
And he told me that a friend ofhis referred him or told him,
you know, go see this guy, he'sreally good.
And I thought, well, you know,that's a good recommendation,
right?
But I said, if you'd like, Icould take a look at him as
well, and it's not and I cangive you my opinion.
And it's not that I'm, you know,the be all end-all, but I'm just

(21:56):
saying there are certain thingsthat I would look for.
And so he gave me the name andgave me the name of the firm,
and I went and I checked him outthrough like broker check, and I
also read his form ADV, whichdetails really the whole
mechanics of the operation andhow they charge their fees, etc.
And then I gave him my opinion.
And when I really told him, Isaid, there's nothing that

(22:18):
really stands out overall andsays steer clear of this guy,
because he didn't have anyviolations against him or
anything.
But what I did look at is thesize of the firm and the size of
the assets, and they hadprobably about 700 million, I
think, that they wereoverseeing.

(22:40):
But not again, good or bad, itjust is what it is.
But there were only 10 peopleworking in that firm.
That was a big red flag to me.
And the principal, the CEO, hehad only a series 63.
Again, not anything that's bad,right?
But when I looked further, hehad a real estate broker's

(23:02):
license and he had his insurancelicense.
And I was wondering, where'syour investment license?
Right.
And that was also something thatstood out to me.
Again, doesn't mean that this isa bad person, does not mean that
at all.
It just meant to me, what didhave you been through this whole
thing of what are yourcredentials, right?

(23:24):
You know, what do you have aseries seven?
Have you ever had a seriesseven?
You know, have you worked inthis industry?
How are you giving advice andguidance to people?
You know, if you're managingtheir money and you're taking a
look and you're building afinancial investment plan, how
are you doing it?
And the other thing that stoodout to me was this man had been
in the business since the late90s, so that means he probably

(23:47):
had to be in his good 60s, 70s,probably.
And I thought you're probablynot gonna be speaking to this
man directly, and even if youare, you're probably not gonna
get his full attention even with$380,000.
You know, he's and I also lookedat he had multiple financial

(24:08):
firms that in differentdifferent states.
And I thought, how are you ableto manage all these different
firms and you're doing it withjust 10 people and you're
overseeing$800 million,whatever, and then someone comes
to you with this amount ofmoney, and they give you, you

(24:28):
know, I'm I want to roll thismoney over.
I'm just saying you're not gonnaget that man's attention, okay?
No, you're just not.
And there again, it's not sayinghe's a bad person, not at all,
or that's a bad firm, not atall.
I'm saying this may not be theright firm for you.
That's what I'm saying.
Plus, when I looked at the fees,it was fees on top of fees on

(24:50):
top of fees.

SPEAKER_00 (24:51):
Oh my goodness.

SPEAKER_03 (24:52):
And that was right there in the ADV, right there.
I just looked at it and I copiedall this stuff and I gave it to
him and I bullet pointed, youknow, my thoughts.
But I just said, hey man, what Iwould recommend is you check out
other people and other firms.
And his custodian was CharlesSchwab.
And I'm this sounds like acommercial.
I'm not trying to sound like acommercial, but I said, if he's

(25:15):
using Charles Schwab, why don'tyou just go directly to Charles
Schwab?
Go to the source.
You know, what's the point ofhaving somebody layer fees on
top of fees when you can godirectly to the horse and jump
on?
Right.
Anyway, that's my thoughts.

SPEAKER_00 (25:29):
That happens so many times.
And especially with that amountof money, it's a big amount of
money, but it's not the amountof money that's making them
their their greatest commission.
And so they they get you in thedoor, and then a couple years go
by and you somebody asks youwhat's happening with your
investments, and you don't know,you haven't heard from them, and
you haven't had the annualreview like you should, and you

(25:49):
just kind of get left on thewayside.
So it's a very big deal to lookat all those details and see how
much attention and what theexpectations are for you.

SPEAKER_03 (25:57):
Well, and I want to say they had about 2,000 clients
roughly, and about 400 of themwere characterized as high net
worth.
So you know out of that 2,000people, only those high net
worth people are really gettingthe the time and attention of
those people.
They're right.
The rest of them are not.

(26:17):
There's no way that 10 peoplecan do an annual review on 2,000
people.
Not happening.
Not happening.

SPEAKER_00 (26:26):
And I even know this from my one of my very, very
first jobs.
We won't say the name, but welearned an 18-page script, and I
had a financial degree, but someof the coworkers, one of them
was a she was getting a degreefor a vet tech, so nothing even
to do with money.
We learned this script, and thenwe go out and fill the script to
people, and we just try toaccumulate assets and of course

(26:47):
sell lots of life insurance thewhole life because it pays more
and anyway or index life, Ishould have said, 'cause it it
pays better commission.
And so by the end of my sixmonths there, I thought, I'm not
doing financial planning.
I am just doing sales andaccumulation, and I don't feel
like people are getting betterfor what we're providing.
So it's a it's a huge thing inthe industry that you and I have

(27:09):
the experience of seeing on theback end of how people are
actually taking care of oncethey get in the door versus the
sales it takes to get themthere.

SPEAKER_03 (27:17):
Well, you know, I remember when we had a I had a
book of about 300 clients.
And that doesn't sound like alot, right?
But when you're expected to havean annual review of even 300
people, there are only 365 daysin the year.
And you've got a you've got alot of things to do.

(27:37):
It doesn't sound like it wouldbe that difficult, but it it is.
It is hard.

SPEAKER_00 (27:42):
You know, there's a lot that should go into it.

SPEAKER_03 (27:46):
Exactly.
And so, you know, I all I'msaying is if you're looking to
speak to someone on a regularbasis or at least once a year,
that's not gonna be the person,you know, with ten people on
board.
It's not.

SPEAKER_00 (28:01):
So the other thing you mentioned was all the
additional fees.
And so once again, I'm I'm notopposed to fees.
I think it's important thateverybody gets paid, but there
are certain fees that are goingto be added on, and then certain
ones that are gonna go above andbeyond and don't really become
necessary.
So knowing the different levelof fees, knowing that the
different category of fees, Ithink that's important too, to

(28:24):
know what you're what you canexpect based on the fee that
you're paying.

SPEAKER_03 (28:28):
Right.
Yeah, and you know, one thingthat I will say, and I don't
know, I use Chat GPT for a lotof things.
I just adore it.
I really, really do.
I ask it such crazy questions.
You know, I was talking to ityesterday.
I don't even know if you call ittalking to it, but I do.

(28:48):
And I'm asking it how, you know,how do how did people speak, you
know, what did they sound likein the early 1900s?
Why?
I don't know.
It just said they wanted toknow, and I said, tell me how
they spoke.
You know, did they have anaccent or you know, did they use
the same type of uh sentencestructure that we do today?

(29:10):
I don't even know.
But anyway, I have the craziestconversations with it, but
that's okay because they're notgonna judge me, and I'm not
embarrassed.
I'm no one's gonna see it orhear it till I tell someone,
tell everybody I'm askingquestions like that.
But my point really is you couldtake if you go to broker check,
like I said, and you look attheir form ADV and it doesn't

(29:33):
mean anything to you, copy thatdamn thing and throw it into J J
chat GPT, ask it to summarize itfor you.
Say if I have in I know theycan't 100% do it.
Let's say you you're like, I'mgonna roll over 380,000 to this
place.
You know, what kind of fees am Igonna look at?
They don't really know becausethey don't know what kind of

(29:54):
portfolio is gonna beconstructed for you.
But my point is that they couldsummarize for you.
In everyday language, the typeof fees that you could expect.
And that's where again when Ilooked at it, I saw you're going
to have fees from the investmentproducts over there at Schwab,
okay, that you're notnecessarily going to see.

(30:14):
There's not like they're goingto send you a bill, but there's
those underlying fees, theexpenses that keep these funds
running.
And again, it depends on whatthey put you into.
But then you're going to havethe management fees on top of it
from this firm.
And typically it's you know fromone to two percent.
The higher you go to twopercent, then the obviously the
lot more you're paying.

(30:35):
But you know, there are certainstructures that can be
structures.
That's not what I really meant.
But there are certaininvestments that you could get
into that are very, very lowcost or even quote unquote no
cost.
But that really you have toreally work with somebody who
knows what they're doing.
And if you get to somebodythat's not working on commission

(30:58):
and strictly receives a salary,they could put you into some of
these products that are going tobe very beneficial to you in
terms of keeping more money inyour pocket.
So like you just said,everybody's got to eat, but that
doesn't mean you have to feedthat bear.
You know, there's a lot ofdifferent ways to go about it,
but you really want to ask whenyou're talking with whomever

(31:20):
you're this is uh the advisor,how do you get paid?
And then can you put me in avery low-cost fee structure?
Because I want to pay the leastamount of fees possible.
You gotta ask for what you want,and it doesn't hurt to ask.

SPEAKER_00 (31:34):
It does not, and I think that how you get paid is
one of the best questions.
And I'm with you.
I use ChatGPT, I think it's mymy new bestie, unfortunately,
sad to admit.
But you can also ask it forquestions to ask, right?
So I had I had a friend whoshe's almost at retirement,
she's got a very large sum inher retirement account, and some
company had come in to speakwith their team, and they had

(31:58):
offered, of course, to roll overa portion of this, and there
weren't going to be any fees,and and this it's just sending
red flags, alarm bellseverywhere for me.
So I tell her, ask this and askthis, and I said, and ask them
if if I can fit in on the callwith you next time you're gonna
go.

SPEAKER_02 (32:13):
There you go.

SPEAKER_00 (32:14):
And they didn't like that.
Absolutely for some reason thatthey were not happy about that,
and then all of a sudden, ohyeah, we we do charge fees, and
oh yeah, oh the offer.
And I thought this is reallysad.
It makes me sad for her becauseshe didn't know she's not a
finance person, she doesn'tknow, she doesn't know what she
doesn't know.
That's what you and I do, right?
Right.
Just luckily that she hadreached out, but you've you've
got to ask the questions of ofhow you get paid, ask Chat GPT,

(32:38):
what other questions am Ineeding to know?
What other things do I need toask?
What do I need to look for?
Because being aware is reallyhow you're gonna make the best
decisions.

SPEAKER_03 (32:46):
Yeah, and you know, there's so many different titles
that advisors have, right?
They could be planners, CFPs,they could be, you know,
investment reps.
There's a million differenttitles that they have, you know,
coaches, etc.
I don't know.
You know, it's it's difficult toreally ascertain sometimes what
kind of person you're actuallyspeaking with if you don't know.

(33:06):
When you say lawyer, pretty muchyou know what a lawyer does,
right?
But then they're they'redivided.
You know, I don't do this, Ionly do corporate law, I only
do, you know, family law, la lala la la.
You know, just doctors the samething, right?
But financial, I'd say advisorskind of have that same similar
setup.
You don't really, really knowwhat their specialty is by just

(33:27):
grabbing their title, butsometimes it can be helpful, you
know, it depends.

SPEAKER_00 (33:31):
Right.
Well, and even with the wordadvisor, I'm not sure that
there's any kind of requirementthat goes into that.
I don't personally watch TikTok,but I see some of the videos
through other streaming themes,and there seem to be a lot of
TikTok financial advisors who,in my opinion, are giving awful
advice.
Every once in a while it's goodstuff, but that word advisor
sounds like they'reknowledgeable, but it doesn't

(33:52):
mean that they have any kind ofability, experience, or actual
education to be able to give theadvice that they're giving.

SPEAKER_03 (34:00):
Absolutely.
And like I said earlier, youhave every right to ask.
You know, you should be askingwhat is your experience, what is
your education, what type oflicensing do you have?
You know, do your interview, doyour due diligence.
That's a whole five, ten minuteconversation that may teach you
a whole lot.
A whole lot.

(34:21):
And like I said, if you're awoman, a woman or a man, but
especially, you know, women, inthe sense that I think about
situations where when I worked alot with military families and
military wives, and very oftenthey would say, I handle all the
day-to-day, you know, a pain ofthe bills, etc.

(34:42):
But my husband handles all theinvestments.
Or he's deployed right now, so Ihandle everything.
But once he's back, he takescontrol.
Or older ladies, I've neverhandled this before.
My husband did all this.
Right.
You know, those are plenty ofsituations where, in my opinion,
women are setting themselves up,you know, for failure because
you're not involved in somethingthat you really should be

(35:05):
involved in.
And again, you shouldn't beintimidated by anybody, even if
it's your husband, you know, orwhat have you, your spouse.
You know, you should be able toget in there and do it and not
not be able to feel excludedbecause it's really going to
hurt you when you don't knowthese things and you're not

(35:27):
paying attention and the moneyis mismanaged.
And like we said earlier, thenit's too late.
You know, you really need to getin there and keep the boat on
the right track.

SPEAKER_00 (35:37):
Uh two different and and especially if if you're
married, your spouse should wantyou to have a better
understanding.
You know, from just like youmentioned, your friend just
passed away.
You know, my friend passed awaya few months ago.
It can happen at any point intime.
We know that we know that lifecan end at any point in time.
So it's not even something weneed to think about just for the
elderly.

(35:57):
It's something we just need tobe able to have a handle on.
So from the absolute basic ofknowing your credit, knowing
your budget and where your moneygoes, knowing what your debt
looks like, knowing what typesof assets you have
investment-wise, whether it'sstocks or mutual funds or bonds,
knowing the value of your house,and then knowing what the plan

(36:17):
is in the event that one of youwere to pass away, or hopefully
not, and in the event ofretirement.
So just being able to have allof that and have a clear
understanding of that will helpyou to be able to move and
navigate what you need to.
But every piece of that isimportant to be able to
understand.

SPEAKER_03 (36:34):
Oh, that's you're 100% right.
And you just reminded me of asituation.
I remember sitting down withthis married couple, and we
were, you know, time we weredoing a whole overview of
everything, right?
That they had and all that.
And one of the recommendationsthat I made, based on the
interview, because we got it, wegot down in the weeds, like, you
know, who works and you knowwhat kind of job you have and

(36:56):
how long does it last, you know,all those things.
And anyway, I made arecommendation to this couple of
a total amount of insurance thatthey needed to carry on the
husband.
And I could see in his faceimmediately, he was like, No
way, no way, I'm not doing it.
And I kind of turned to thetowards the wife, and she just

(37:19):
was like looking at me, kind ofgiving him side eye, and she
didn't say anything.
And in my mind, I'm thinking, ifI'm in your shoes and I heard
what I just heard, I would say,listen up, buddy, we're signing
that application right here,right now, because you kick off.
I just realized through thisguy, I'm gonna be left in the
poor house, and that's not howI'm not gonna be left destitute

(37:43):
because you don't want to dothis.
Get let's get this applicationgoing right here, right now,
because you know it's notsomething that can just get in
place today, and you're nevergonna be basically younger or
healthier than you are today.

SPEAKER_01 (37:56):
Exactly.

SPEAKER_03 (37:56):
You need to, that's my thought, you know, because
I'm like, you have to have someself-protection.
And just because your husbanddoesn't want to pay for it,
well, you're gonna pay for it,buddy.
You know, I'm not going intothis.
Yeah.
Because again, look at this ladyI just mentioned, you know, the
brother absconded with all thefunds and she's on just social
security.
You don't want to be left inthat situation.

(38:17):
No way.
No.
When you can do something aboutit.
I don't care if you know itleads to a divorce.
I'm gonna say, before we getdivorced, man, I'm taking out a
policy.

SPEAKER_00 (38:28):
And it goes in the decree that it saves with my
name.
Yeah.
Absolutely.
Unfortunately, being in thebusiness, we hear this story too
many times.
I remember talking to a lady whohad just lost her husband and
she'd gotten a quote for lifeinsurance, but he was overweight
and they thought it cost toomuch.
And so they didn't buy it.
And six months later he had aheart attack at the dining room

(38:50):
table.
There you go.
And so we understand it'sexpensive.
It's not necessarily insuranceis not something that everybody
needs to have a whole lot of.
Some people need a lot of it.
All depends on your situation.
But if you need it, oh mygoodness, you definitely have to
find every which way to make ithappen because unfortunately we
have these stories we could talkabout for days.

SPEAKER_03 (39:08):
Yeah.
And again, I could just go onand on and on.
I I again just what came to mindis I remember this woman late in
life, her husband actually diedon the toilet, believe it or
not.

SPEAKER_00 (39:20):
But didn't that happen to Elvis?

SPEAKER_03 (39:24):
I think he did.
Anyway, he uh he kicks off.
Lo and behold, guess what shefound out?
That he did have he he declinedthe survivor benefits on his
pension.
Yeah.
Because he wanted more money,you know, monthly.

SPEAKER_00 (39:42):
Yes, to pay out.
Yes.

SPEAKER_03 (39:44):
And I'm like, where were you, lady?
I mean, seriously, where wereyou when this was happening?
She probably didn't know.

SPEAKER_00 (39:52):
And probably not because and she's thinking he's
taking care of it all.

SPEAKER_03 (39:56):
Yeah, and he just screwed her.
Well, you know what I mean.
She financially anyway.

SPEAKER_02 (40:04):
The better times.

SPEAKER_03 (40:06):
But yeah, I mean, those are that's not the time
you want to find out thatthere's no more money coming
your way.

SPEAKER_00 (40:12):
You know, it's really not.

SPEAKER_03 (40:14):
It is horrible.

SPEAKER_00 (40:14):
So you you bring up such a good point about how it's
so it's so important, no matterwho you are, it's if you're in a
relationship.
Well, if you're even if you'renot, you need to know where your
money goes.
But if you're in a relationshipto be participating at.
So even if the other personhandles it, participate so that
you know.
Obviously, if you're single, youneed to know where your money
goes so you can make those gooddecisions, but also putting in a

(40:37):
plan and that goes trust on bothsides.
And if there's intimidationthere, then that's all the more
reason to find a professional tohelp you.
And at this day and age, I mean,there's so many calculators and
tools and resources that we canuse, and then you have all the
questions we talked about thatyou can ask to professionals to
see who can help you the best.
There's really no reason not tohave everything in place.

SPEAKER_03 (41:00):
Yeah, and going back to my friend, like I said, with
the the company he asked me tocheck out, you know, if I say
this a lot, and I'm gonna say itagain.
I always recommend a largecompany.
And the reason why, just likewhen I told him there's only 10
people working at this firm,there's a lack of continuity, a
lack of bench strength.

(41:21):
You need to go to a largecompany because if this ends up
being a burning made-offsituation, your money's gone,
you're not getting it back, thechances of you ever recovering
are so slim.
If you're with a huge company inthe I Oh, it sounds like a
commercial, I gotta find morecompanies, but let's say the
Vanguard and the you know SchwabFidelity, blah, blah, blah.

(41:45):
Any of those companies canwithstand that kind of
mismanagement, embezzlement,etc.
If your money is taken by somehook or crook, your chances of
getting it back are high.
You will probably never be at aloss because it's a huge
company.
Plus, you're gonna have thatcontinuity.
If you your one advisor whoyou've been working with up and

(42:07):
leaves for whatever reason,dies, retires, quits.
There's somebody else that'sgonna fill right back in.
And so you're not gonna have togo, I got to recreate this whole
relationship, etc.
You know, they're gonna be ableto pick right back up.
And so that's just my personalbelief.
I'm not saying that small firmsare bad, I'm not, or medium

(42:28):
firms, whatever you want to callthem.
Many people with this firm, youknow, the 10 people probably
suit them just fine.
That wouldn't make me feel good,but if you feel good, whatever,
it's your money.
But if you ask for myrecommendation, I'm gonna say go
to a big firm.
I don't know.
What are your thoughts?

SPEAKER_00 (42:47):
You bring up another point though.
If if you do prefer a smallerfirm or if it's somebody that
you know that you know you wantto give them a chance, then make
sure that question is there.
What is the continuity like?
If tomorrow for whatever reasonyou're not here, what happens to
me?
What happens to who's takingcare of me, who's reviewing my
accounts, who's taking care ofmy investments, ask the
questions and make sure thatthat's something you're

(43:09):
comfortable with before goingthat route.

SPEAKER_03 (43:10):
Right.
Yeah.
And you know, just like thewhole Bernie Madoff thing, too,
those statements that they werereceiving were just completely
doctored.
They were meaningless anduseless.
And you don't know that either,really, because again, you don't
know what kind of auditing hastaken place, you don't know
who's counting their whataccounting firm they're using,

(43:31):
if they're even using an outsideaccounting firm.
You know, those are all thingsthat I think about, again, when
you're looking at and trying toevaluate who's going to be
helping you, you don't have toworry about that in these great
big large companies, right?
Not not that they can't gounder, of course, we've seen
that many times before, butagain, the chances of that

(43:52):
happening are significantlylower with the large company.

SPEAKER_00 (43:56):
That's a good point.
The audits are usually moreoften and and larger audits, so
that's definitely definitelysomething to consider.

SPEAKER_03 (44:04):
Yeah.
Yeah.
Well, I kind of feel like I'mbeating a horse, but anyway, I
just I just really, like I said,had these two interactions at
least.
I've had, you know, it happensto me all the time.
But, you know, just really gotmy wheels turning.
And like I said, when I thinkabout women, I don't want you to
feel that you can't ask for whatyou need and get what you want.

SPEAKER_00 (44:29):
Right.

SPEAKER_03 (44:30):
Shit.

SPEAKER_00 (44:30):
I I feel the same.
I feel the same way.
Like I said, with the when Iwent to buy that car, I was just
so intimidated and so scared.
I didn't know what I didn'tknow, and I just knew that these
salesmen were gonna make me payfor something I didn't need.
Because I'm you know, well, youknow me, I'm non-confrontational
and I'm kind of a little bitshy.
So we have to make sure with ourmoney.
We exactly not stupid, just alittle bit scared, a little bit

(44:50):
intimidated.
So we have to be the same waywhen it comes to our finances.
Make sure you ask the questions,be confident in asking the
questions.
And you know, when you firstmeet someone, you can even say,
I have three appointments set upwith financial planners,
advisors, whatever the word is,and then say, These are the
questions I'm asking, and I'llget back to you after my third
one.
That gives you an out so thatyou don't have to sign the

(45:11):
paper.
In fact, I was just readingsomething about consumer
awareness today, and they weresaying if the deal is good
enough today, it'll be goodtomorrow.
If it's not good tomorrow, it'snot good today.
So if they're if they're forcingyou, you gotta sign on the line,
you gotta do it, still not aquestion for you.
Seriously.
So so just tell them, you know,you're interviewing people for

(45:32):
this and go to the chat GPT, ourbestie, and see what kind of
questions you should ask, andand then give yourself the
confidence because rememberthey're taking care of you, not
the other way around.
And if someone was coming to youfor service, you would want them
to feel confident in what you'reproviding.

SPEAKER_03 (45:46):
Right.

SPEAKER_00 (45:46):
So make sure you're confident in what they're
providing as well.

SPEAKER_03 (45:49):
And you know, one of the things that you said that I
really liked is when you threwout to that person, tell them,
you know, I'm gonna invite afriend of mine to sit in with
us, and she's you know, a CFP oryou know, whatever.
And if they hesitate or balk oryou know, then you right away
know, move along.
That's not the right person foryou.
Not exactly.

(46:10):
Why do they what do they have tohide?
Why would they be shy orembarrassed?
They shouldn't be, right?
They'd say you're gonna be ableto do that.

SPEAKER_00 (46:16):
And if anything changes, right?
If anything changes, like howthey told my friend it wouldn't
be a charge, oh, but then cometo find out after six months
there'd be a charge.
If any of that changes, you'redealing with Shady already.

SPEAKER_02 (46:26):
So Yeah.

SPEAKER_00 (46:27):
So just continue.
That's right.
Like Jerry said earlier, there'sso many different designations
and licenses out there.
So I would say also to thinkabout what it is that you're
you're looking for.
For example, if you're lookingfor someone to help you with
credit and debt and budgeting,there's certain people that do
specifically that.
If you're looking for someone tomanage your retirement accounts,

(46:47):
there are people specificallyfor that.
If you want to look at the bigpicture, the overall plan
specifically for that.
So think about each aspect andmake sure you're going to the
right person who can navigatewhat you're looking into.

SPEAKER_03 (47:00):
Absolutely.
Yeah.
And, you know, again, there'scertain things that they cannot
do and should not be doing andshould steer clear of.
And what I mean by that is theyyour investment advisor
shouldn't really be giving youlegal advice.
They might lead you down thatpath and suggest a few things,
but you know, if you need awill, you need a will.
They're not going to create a,they should not create a will

(47:21):
for you, right?

SPEAKER_01 (47:22):
Right.

SPEAKER_03 (47:22):
Same thing with, you know, if they're trying to give
you something that's outside ofthe realm of their world that
they don't have a license orbackground or experience.
And even if they say that I cando that, I would be very
hesitant to go to a one'sone-stop do-all kind of a
person.
Nobody is really like that.
Nobody.
Right.

SPEAKER_00 (47:43):
Yeah, and taxes and legal, that's that's huge.
But both of those are out of thescope of a lot of financial
quote unquote advisors.
They're p pieces that we mightgive tidbits on, but they're
different worlds.
So it's a very, very importantthat they're not overstepping.

SPEAKER_03 (48:00):
Yeah, and you know, when you're talking about a
financial plan, there's so manydifferent areas that they touch
on, you know, from insurance to,like I said, taxes, retirement
planning, et cetera, that theyhave their arms really wrapped
around the the big scheme ofthings.
But often when you start, youknow, narrowing it down, you
know, when you're talking about,let's say, homeowners insurance,

(48:22):
property and casualties, etcetera, that's generally outside
of the realm of their world.
And they may kind of take ahigh-level look and make sure
you're covered with, let's say,an umbrella policy, et cetera.
But they are not really going tobe probably the person that
writes that policy for you anddoes a whole review of your
coverages on your autoinsurance.

(48:44):
You know, probably not.
So those are again are just acouple of examples of being
someone very specific.
And when you're talking abouttaxes, Lord knows there's just
so much in that world thatagain, I even myself, I try to
stay abreast of it.
And it's challenging becausethings are changing so fast all
the time.

(49:04):
And it's so broad, there's somuch.
Anyway.

SPEAKER_00 (49:08):
You know, something else I wanted to mention briefly
is a lot of times when peopletalk to me about their money,
they feel that they're shouldnot go to someone because they
don't have here, I'm using myquotes again, enough money.
And so I would say to you thatif you if you have no money, if
you're in debt and you need tospeak with someone to help you
out of that, do that.

(49:29):
Get the get the assistance.
There's people out there thatcan help you to get back on the
right path.
Or if you have five thousanddollars or fifty thousand
dollars, never think about doyou have enough to speak with a
financial person?
You have enough.
Your whole financial situationis enough.
So whether that means improvingwhat you have or if you have a
high net worth and you just wantto make sure it's managed

(49:50):
properly, I wouldn't think ofterms of do you have enough to
speak with someone because youdo.

SPEAKER_03 (49:56):
That's such a good point.
You're absolutely right.
Because I tell people all thetime, even if you're just
starting out and let's say themost you can do is 50 bucks a
month.
Okay.
You know, let's work with thatand let's do something and have
them lay you out a plan, youknow, to to help you invest
that, but also make sure thatyou've dotted your I's, crossed

(50:19):
your T's, you're putting you'renot putting the cart before the
horse, you know, you've laid agood solid foundation, getting
your debt, all that control.
You know what I'm saying?
That those are importantconversations to have.
And if you feel like your brainis swimming in mud, you know,
because it feels just toooverwhelming, get a
professional's help.
They should be able to help you.
They really should.

SPEAKER_00 (50:39):
They should.
But again You know, Jerry, whenI first started with my CFP, I
when I was first studying forCFP, of course, I was I was just
a baby, I didn't know much aboutanything.
But I knew that I needed a RothIRA because they harped on that.

SPEAKER_02 (50:51):
Yeah.

SPEAKER_00 (50:52):
But at the time, of course, we didn't have internet
and all that fun stuff.
So I knew I needed this thing,but I didn't know how to get
one.

SPEAKER_01 (50:59):
Yeah.
Yeah.

SPEAKER_00 (51:00):
So I'm like, okay, well, I'm supposed to do twenty
dollars a month, but I don'tknow how to get this thing.
Now we have so many resources onhow to get the tools.
There's so many resources oneven calculators to show if you
invest fifty dollars a month forthe next ten years at eight
percent, how much will you have?
There's ways to see how thatwill actually give you a
long-term benefit that you don'treally see because you're

(51:20):
thinking 50 isn't enough.
So like Jerry said, looking ateach of the aspects and starting
the plan and starting the stepsis really important.

SPEAKER_03 (51:29):
Right, right.
And you know, going back to thetype of advisor, you know, there
are even though someone hastheir shingle out and says that
they're a financial advisor,some advisors won't help you
again because they will probablyif if let's say they're like,
yeah, the minimum has to be likea million dollars for me to help
you.
Okay.
Yeah, I don't have that.
Move along.

(51:49):
Yeah, there's somebody else, youknow, again, or as one more
time, call a large companybecause they have people on
staff that are on the phonesthat are licensed, that are
good, that are salaried, andthey will help you, you know,
with your fifty dollars a month.
No problem.
Right.
Yeah, and if you're embarrassed,that's okay.

(52:10):
Don't put them on FaceTime.

SPEAKER_00 (52:13):
And you know, when you call those large firms,
because you know, our experienceis well, it's I mean, in 30
minutes, you could go fromsaying, Oh, I have fifty dollars
a month I should do somethingwith, and then you call them a
50 or 30 minutes later, it's allset up.
Yeah.
And then every month it's going.
I mean, it's not like you'regonna spend years on this, it's
just 15, 20, 30 minutes, andthen that's a wrap.

(52:33):
And now you have an investmentaccount or emergency fund or
whatever it is going.

SPEAKER_03 (52:37):
Right.
Or a plan to get out of debt,and then plus a plan to save and
you know, all those good things.
And again, maybe you don't evenbuy an investment product right
now because it's not the righttime.
That's good advice in and ofitself.
You know, there's nothing wrongwith that.
You know, when the timing'sright, then you'll get into that
whatever it is, you know.
So, like I said, if it's goodadvice today, it should be good

(53:00):
advice tomorrow.
You know, nothing wrong withthat, nothing wrong with that.

SPEAKER_00 (53:04):
Well, it's all it's all important and it all flows
together to the the long thingto long-term goal, but each of
the steps is important.

SPEAKER_03 (53:12):
Right.
And again, I know that this wasan episode I wanted to tailor
specifically to women, like Isaid, but I think that this also
serves in broad aspects as well.
Like everybody could learnsomething from this, right?
So you don't necessarily, butagain, I think that women just
bringing this back homeparticularly feel intimidated

(53:34):
handling money sometimes orspeaking with someone about
their money sometimes.
Right.
And you shouldn't be.
You really, really, reallyshouldn't be.
No way.

SPEAKER_00 (53:44):
And if you are talking to someone and you feel
that way, then go to the nextone.

SPEAKER_03 (53:48):
There you go.
Move on.

SPEAKER_00 (53:49):
The person should make you feel very comfortable.

SPEAKER_03 (53:51):
That's it.
That's how I feel.
And you feel the same way.
We're on the same page.
Well, if you have questions orcomments or you want to, you
know, tell us about yoursituation, drop me a line.
Go on towww.pinkbunnypodcast.com and you
can leave a comment or you couldsign up and you can there's lots
of ways that you can findentertainment and information on

(54:13):
the site.
Uh the blog that I write is kindof crazy about anything and
everything, but like I said,take a look at the companion
posts.
They're very, very helpful in mymind because again, they're a
lot more detailed.
And in fact, like what we'retalking about right now, I think
that I will put a companion postout there about some of the top
questions you should be asking afinancial advisor, which again

(54:35):
will be very helpful.
And you could use that as abasis for your interview when
you're talking with someone.

SPEAKER_02 (54:46):
Anything else you want to add?

SPEAKER_00 (54:49):
I can't I can't think of anything right now.
I think it's important to reallytalk to whoever you're wanting
to help with your situation,make sure you feel comfortable.
Ask about the fees, ask thequestions, really interview them
to make sure that you're at thebest place for yourself or
whatever it is that you'reworking on, and make sure you
participate, especially ifyou're in a relationship where

(55:10):
the other person is handling thethe money, find out, make sure
you know all the aspects.
It's good to work on thattogether anyway.

SPEAKER_03 (55:17):
Yeah.
And you know, one last thing I'mgonna throw out, it's separate,
but if you are a woman and youfound found this interesting and
maybe you want to put yourselfin the shoes of being a
financial advisor, go for it.
You know, go and get licensed,trained, get hired, you know,
the whole whole nine yards, doit.

(55:38):
I don't think there's enoughwomen in this field to begin
with.
But again, don't feel that thisis a field that's not for you.
It is 100% for you.
Do it.

SPEAKER_00 (55:50):
Perfect.

SPEAKER_03 (55:52):
Well, thank you so much for being with me today.
I think your insights and yourinformation is just extremely
helpful.
And I I hope that a lot ofpeople uh walk away from this
feeling very empowered, youknow, by the conversation we had
and that they're able to takethe bull by the horns or lasso
that cow or whatever it is.

SPEAKER_00 (56:12):
I I hope so too.
I appreciate you having me,Jerry.
It's always good to spend timewith you.

SPEAKER_03 (56:16):
Absolutely.
Well, we will talk to you nexttime.