1 00:00:00,400 --> 00:00:03,256 >> Alissa Maizes: Your charge card is not your emergency fund. 2 00:00:03,328 --> 00:00:06,200 Because there are people who feel that a charge card is an 3 00:00:06,240 --> 00:00:09,128 emergency fund. It isn't. And you could be 4 00:00:09,184 --> 00:00:12,120 charged 30%, um, 5 00:00:12,240 --> 00:00:15,160 on the interest that, uh, you'd have a new 6 00:00:15,200 --> 00:00:18,072 emergency if you choose that to be your emergency 7 00:00:18,136 --> 00:00:20,392 fund. And it creates unnecessary 8 00:00:20,456 --> 00:00:21,180 stress. 9 00:00:25,440 --> 00:00:28,360 >> Anthony Weaver: Welcome back, everybody, to another exciting show, the 10 00:00:28,400 --> 00:00:31,400 about that Water podcast, where we help you 11 00:00:31,440 --> 00:00:34,404 build strong financial habits. My name is Anthony and 12 00:00:34,492 --> 00:00:37,204 we love focusing on the sandwich 13 00:00:37,252 --> 00:00:39,924 generation. So today I have 14 00:00:40,012 --> 00:00:42,852 the awesome opportunity to bring somebody on that 15 00:00:42,876 --> 00:00:45,396 hasn't been on the show for almost two years since 16 00:00:45,468 --> 00:00:48,388 episode 212. Her name 17 00:00:48,444 --> 00:00:51,412 is Alyssa from Amplify My Wealth. How 18 00:00:51,436 --> 00:00:52,868 you doing today, Alyssa? 19 00:00:53,044 --> 00:00:55,652 >> Alissa Maizes: Great. How are you? Thank you so much for having me 20 00:00:55,676 --> 00:00:56,244 back. 21 00:00:56,412 --> 00:00:59,332 >> Anthony Weaver: You're welcome. Uh, for those of the people who don't 22 00:00:59,396 --> 00:01:02,308 know, um, about you and your business or 23 00:01:02,364 --> 00:01:05,132 just getting into know you can you just kind of 24 00:01:05,156 --> 00:01:07,756 refresh them, uh, just a quick high level 25 00:01:07,828 --> 00:01:10,668 of what are your services and what do you 26 00:01:10,724 --> 00:01:11,320 do? 27 00:01:11,940 --> 00:01:14,604 >> Alissa Maizes: So I help women and their 28 00:01:14,692 --> 00:01:17,644 families who are usually 29 00:01:17,772 --> 00:01:20,156 earning six figures, 30 00:01:20,348 --> 00:01:23,180 sometimes not, but usually earning six figures as 31 00:01:23,220 --> 00:01:25,932 a household. Maybe they have six figures 32 00:01:26,076 --> 00:01:29,020 or that is their goal. And I also help 33 00:01:29,140 --> 00:01:31,682 you young adults who are starting on their financial 34 00:01:31,786 --> 00:01:34,530 journey wherever they are. And I 35 00:01:34,570 --> 00:01:37,458 help them so they can prioritize 36 00:01:37,554 --> 00:01:40,322 having more money and building their wealth 37 00:01:40,386 --> 00:01:43,266 by simplifying finances because it doesn't 38 00:01:43,298 --> 00:01:46,242 have to be overwhelming and complicated. So I 39 00:01:46,266 --> 00:01:49,042 like to simplify it so they can really do 40 00:01:49,066 --> 00:01:51,954 it on their own, but with the expertise 41 00:01:52,002 --> 00:01:54,850 and advice that I can offer them. So I do 42 00:01:54,890 --> 00:01:57,666 have different advising options, 43 00:01:57,778 --> 00:02:00,738 but I also have a lot of free material. 44 00:02:00,834 --> 00:02:03,726 So if you're DIY and you're thinking, I'm 45 00:02:03,758 --> 00:02:06,430 not interested in Financial advisor, 46 00:02:06,590 --> 00:02:09,214 definitely go to my Instagram 47 00:02:09,342 --> 00:02:11,806 and grab what you want. It's there for 48 00:02:11,878 --> 00:02:14,862 free. So definitely I share a lot of 49 00:02:14,886 --> 00:02:17,886 tips, but I also have guides and other things and it's really 50 00:02:17,958 --> 00:02:20,750 free. I'm not charging for it, so 51 00:02:20,870 --> 00:02:22,094 that's what I do. 52 00:02:22,262 --> 00:02:23,150 >> Anthony Weaver: Awesome. 53 00:02:23,310 --> 00:02:26,030 And you know, since you given that you 54 00:02:26,070 --> 00:02:28,894 tailored all your advice to like, women and families, 55 00:02:29,022 --> 00:02:31,950 like in six figure household net worth, like what 56 00:02:31,990 --> 00:02:34,762 is specific financial, financial challenges that 57 00:02:34,786 --> 00:02:37,578 you see that the, uh, sandwich generation 58 00:02:37,674 --> 00:02:38,670 is facing. 59 00:02:39,810 --> 00:02:42,602 >> Alissa Maizes: So one of the things that I find is that no 60 00:02:42,626 --> 00:02:45,210 matter how much more money someone might 61 00:02:45,250 --> 00:02:48,106 make, that they are still often 62 00:02:48,178 --> 00:02:50,730 living paycheck to paycheck, they're not 63 00:02:50,770 --> 00:02:53,066 necessarily prioritizing their own 64 00:02:53,138 --> 00:02:55,962 finances for their future. And I 65 00:02:55,986 --> 00:02:58,682 think that that is really the largest 66 00:02:58,746 --> 00:03:01,738 challenge is to take a moment, whether 67 00:03:01,794 --> 00:03:04,426 you're earning six figures or that's 68 00:03:04,458 --> 00:03:07,290 completely unrelatable to you at this moment 69 00:03:07,450 --> 00:03:10,218 is to focus on what you need 70 00:03:10,274 --> 00:03:13,130 in the future, how much are your expenses now, 71 00:03:13,170 --> 00:03:16,026 and how much do you think they'll be in the future? And 72 00:03:16,178 --> 00:03:18,938 not focus on taking care of everyone else. Because 73 00:03:18,994 --> 00:03:21,642 you can't take care of other people if you can't take care of 74 00:03:21,666 --> 00:03:22,790 yourself first. 75 00:03:23,090 --> 00:03:25,978 >> Anthony Weaver: Yeah. And usually with the kids 76 00:03:26,074 --> 00:03:28,788 coming up and, you know, everybody's. 77 00:03:28,964 --> 00:03:31,476 I mean, I'm sure people do 78 00:03:31,548 --> 00:03:34,532 not not look at their children and 79 00:03:34,556 --> 00:03:37,012 think like, how am I aligning my values 80 00:03:37,076 --> 00:03:39,796 and my household to 81 00:03:39,948 --> 00:03:42,612 the next generation of, uh, you 82 00:03:42,636 --> 00:03:45,348 know, life and also with finances. 83 00:03:45,524 --> 00:03:48,320 But what are those things, uh, that 84 00:03:48,780 --> 00:03:51,652 can actually help align when 85 00:03:51,676 --> 00:03:54,372 it comes to tuition because you have children of your 86 00:03:54,396 --> 00:03:57,072 own, and how are you actually dealing with 87 00:03:57,096 --> 00:04:00,020 them when, uh, it comes to going through college? 88 00:04:00,600 --> 00:04:03,232 >> Alissa Maizes: So it's really important and as you 89 00:04:03,256 --> 00:04:06,176 pointed out, challenging for people to 90 00:04:06,248 --> 00:04:08,960 figure out how are they going to take care of their retirement 91 00:04:09,040 --> 00:04:11,856 and if they want to pay for their 92 00:04:11,928 --> 00:04:14,760 children to go to school, how they're going to do that. Uh, 93 00:04:14,760 --> 00:04:17,472 are there people in their family that they've been 94 00:04:17,496 --> 00:04:20,320 helping whether they should or shouldn't? Oftentimes 95 00:04:20,400 --> 00:04:23,248 people are helping their adult kids and 96 00:04:23,304 --> 00:04:26,166 not stopping, even though they can't 97 00:04:26,198 --> 00:04:29,046 afford to take care of their own needs. And I've 98 00:04:29,078 --> 00:04:31,830 seen that as well. So, like I said, I think the 99 00:04:31,870 --> 00:04:34,198 first thing to do is figure out your own 100 00:04:34,254 --> 00:04:37,078 finances. And then if you have other 101 00:04:37,134 --> 00:04:39,974 people that you'd like to help, whether it's 102 00:04:40,102 --> 00:04:42,966 you have younger kids and you'd like to set aside money 103 00:04:43,038 --> 00:04:45,942 to help them with college, um, or 104 00:04:45,966 --> 00:04:48,950 maybe there's someone in your family that you'd like to go 105 00:04:48,990 --> 00:04:51,702 visit more often or help them with something. 106 00:04:51,886 --> 00:04:54,614 First take care of your own finances. Then 107 00:04:54,702 --> 00:04:57,698 see, is there leftover over money to help other 108 00:04:57,754 --> 00:05:00,530 people? If there isn't and it's still 109 00:05:00,570 --> 00:05:03,426 important to you, then I think you really need to 110 00:05:03,498 --> 00:05:06,370 dig a little deeper into your expenses 111 00:05:06,450 --> 00:05:09,266 that you have and figure out what 112 00:05:09,338 --> 00:05:12,258 you can live without. Think about 113 00:05:12,314 --> 00:05:14,978 what you value most and try and keep those 114 00:05:15,034 --> 00:05:17,922 things going as best as you can. Maybe there are 115 00:05:17,946 --> 00:05:20,770 some alternatives to the way you spend money 116 00:05:20,810 --> 00:05:23,554 on what you value and then with the extra 117 00:05:23,602 --> 00:05:26,338 money, allocate it to the other things 118 00:05:26,394 --> 00:05:28,970 or people in your life that important to you. 119 00:05:29,590 --> 00:05:32,094 >> Anthony Weaver: Nice. Um, because it sounds 120 00:05:32,142 --> 00:05:35,130 simple. Um, how did you do it? 121 00:05:36,150 --> 00:05:38,862 >> Alissa Maizes: So it's definitely right. It's. 122 00:05:39,006 --> 00:05:41,934 My explanation could be simple, but. 123 00:05:42,102 --> 00:05:44,910 But because it is simple, right? I mean, 124 00:05:44,950 --> 00:05:47,886 the idea is very simple, but putting 125 00:05:47,918 --> 00:05:50,654 it into place, implementing it 126 00:05:50,742 --> 00:05:53,614 is not always so simple. The first thing 127 00:05:53,702 --> 00:05:56,622 that I think about is your money mindset 128 00:05:56,686 --> 00:05:59,666 and how that impacts your ability. Maybe you have a 129 00:05:59,798 --> 00:06:02,586 mindset that, unbeknownst to you, 130 00:06:02,658 --> 00:06:05,594 are creating, um, barriers to building 131 00:06:05,682 --> 00:06:08,030 wealth. And that's very common. 132 00:06:08,400 --> 00:06:11,146 Um, so definitely that's another thing is dealing 133 00:06:11,178 --> 00:06:14,122 with your money mindset and seeing how you 134 00:06:14,146 --> 00:06:17,050 can overcome that. And usually by 135 00:06:17,170 --> 00:06:19,290 knowing about it and then creating 136 00:06:19,370 --> 00:06:22,010 habits that might be difficult at 137 00:06:22,050 --> 00:06:24,890 first, such as, you know, maybe you're not spending on 138 00:06:24,930 --> 00:06:27,530 certain things, but you're so used to it, and in your 139 00:06:27,570 --> 00:06:30,256 head you think that that's going to make you feel 140 00:06:30,328 --> 00:06:33,104 better about spending on it. So maybe 141 00:06:33,152 --> 00:06:36,112 making some rules for yourself so you 142 00:06:36,136 --> 00:06:37,248 can stop doing that. 143 00:06:37,304 --> 00:06:40,160 But back to your question. Um, because 144 00:06:40,200 --> 00:06:43,200 I wanted to address that. The simplicity, as you put 145 00:06:43,240 --> 00:06:46,048 it, um, is what I 146 00:06:46,104 --> 00:06:48,140 did was I was always 147 00:06:48,760 --> 00:06:51,456 maxing out saving for retirement. I 148 00:06:51,528 --> 00:06:54,448 didn't do it the way I recommend people doing 149 00:06:54,504 --> 00:06:57,056 it, although it worked for me. 150 00:06:57,208 --> 00:06:59,940 I lived on my own after law 151 00:07:00,040 --> 00:07:02,636 school and never asked my parents 152 00:07:02,748 --> 00:07:05,308 for anything after law school. They were very 153 00:07:05,364 --> 00:07:08,252 generous. I was lucky not to have student debt. And 154 00:07:08,276 --> 00:07:11,068 when I took my first job after 155 00:07:11,124 --> 00:07:13,692 law school and they were talking about 156 00:07:13,796 --> 00:07:16,060 the 403B, which is a 157 00:07:16,100 --> 00:07:18,730 401K for, um, 158 00:07:18,730 --> 00:07:21,644 public sector. So I was working for the government at 159 00:07:21,652 --> 00:07:24,572 the time. I heard what 160 00:07:24,596 --> 00:07:27,452 they were talking about, and I'm like, well, I'm just going to do the 161 00:07:27,476 --> 00:07:30,348 max. I didn't think about whether I had the money 162 00:07:30,404 --> 00:07:33,302 to do it. I just did it. And I 163 00:07:33,326 --> 00:07:36,278 didn't create a budget. And I was living very 164 00:07:36,334 --> 00:07:38,770 tight. I was living in 165 00:07:39,150 --> 00:07:42,038 a studio apartment that was the 166 00:07:42,094 --> 00:07:44,902 size of my bathroom right now. The 167 00:07:44,926 --> 00:07:47,830 bathroom I have, um, so I'm not, 168 00:07:47,830 --> 00:07:50,806 uh. It was lovely in a lovely neighborhood. 169 00:07:50,838 --> 00:07:53,078 I have no complaints. But I 170 00:07:53,214 --> 00:07:56,054 definitely made sure I lived 171 00:07:56,102 --> 00:07:58,480 in, uh, an apartment I could 172 00:07:58,520 --> 00:08:01,488 afford. So I prioritized that. But I 173 00:08:01,544 --> 00:08:04,528 was already living in the apartment and didn't think about my budget. 174 00:08:04,624 --> 00:08:07,440 I just made it work. And so that 175 00:08:07,480 --> 00:08:10,480 definitely set me up for saving 176 00:08:10,560 --> 00:08:13,104 adequately for retirement. And just that mindset 177 00:08:13,152 --> 00:08:16,112 of putting my future first, and 178 00:08:16,136 --> 00:08:19,072 that's always how I was. And then 179 00:08:19,176 --> 00:08:21,940 with my kids and paying for college, 180 00:08:22,850 --> 00:08:25,786 it was something that was really important to me. And 181 00:08:25,858 --> 00:08:28,762 so I was already saving enough for retirement. So 182 00:08:28,786 --> 00:08:31,290 I was in a pretty healthy situation. But I 183 00:08:31,330 --> 00:08:33,930 realized not everyone is in that 184 00:08:33,970 --> 00:08:36,874 situation when they're listening to this or decide to do 185 00:08:36,882 --> 00:08:39,658 it. But that is the difference of doing it 186 00:08:39,714 --> 00:08:42,602 sooner rather than later. But the alternative 187 00:08:42,666 --> 00:08:45,610 is you can't take out a 188 00:08:45,650 --> 00:08:48,548 loan for retirement, but there are 189 00:08:48,604 --> 00:08:51,492 loans for college. And I'm not A 190 00:08:51,516 --> 00:08:53,748 big fan of, you know, 191 00:08:53,804 --> 00:08:56,340 straddling your kids with lots of 192 00:08:56,380 --> 00:08:59,156 loans because I think it's daunting. And 193 00:08:59,228 --> 00:09:01,440 the value of education, while it's important, 194 00:09:01,820 --> 00:09:04,708 the overwhelming feeling of a large amount 195 00:09:04,724 --> 00:09:07,252 of debt can hinder 196 00:09:07,396 --> 00:09:09,796 your happiness. So I don't think that's 197 00:09:09,828 --> 00:09:12,644 necessarily the answer. But there are other solutions. 198 00:09:12,772 --> 00:09:15,360 Whether it's working while you're in 199 00:09:15,400 --> 00:09:18,144 school, going to community college 200 00:09:18,272 --> 00:09:21,232 first, so it's less expensive, and then if 201 00:09:21,256 --> 00:09:23,820 they want to, to transfer to university 202 00:09:24,520 --> 00:09:27,472 scholarships, which if you're willing to go 203 00:09:27,496 --> 00:09:30,320 to school, that might be a little bit 204 00:09:30,360 --> 00:09:33,328 below where a child is to is 205 00:09:33,384 --> 00:09:35,760 able to get into, they're more likely to get more 206 00:09:35,800 --> 00:09:38,720 scholarship money living at home. They're all 207 00:09:38,760 --> 00:09:41,668 different ways to do it. But the 208 00:09:41,724 --> 00:09:44,436 most important takeaway that I hope people get 209 00:09:44,508 --> 00:09:47,348 is start taking care of your own 210 00:09:47,404 --> 00:09:50,228 financial needs first. Even if it means 211 00:09:50,284 --> 00:09:53,108 altering what your family is used to right 212 00:09:53,164 --> 00:09:55,940 now, they'll get used to it. And your 213 00:09:55,980 --> 00:09:58,932 kids will also learn from you about how 214 00:09:58,956 --> 00:10:01,220 to be disciplined, which is truly. 215 00:10:01,380 --> 00:10:04,052 Generational wealth is teaching 216 00:10:04,196 --> 00:10:07,060 the future generations how to be better 217 00:10:07,100 --> 00:10:09,716 with money. Because just giving someone 218 00:10:09,788 --> 00:10:12,704 money is not generational wealth. Usually they 219 00:10:12,792 --> 00:10:15,568 blow through the money in one to three generations. 220 00:10:15,664 --> 00:10:18,528 Some people spend their inheritance before they 221 00:10:18,584 --> 00:10:21,024 actually get it. So true 222 00:10:21,072 --> 00:10:23,680 generational wealth is, uh, changing your 223 00:10:23,720 --> 00:10:26,560 trajectory now. Living differently with 224 00:10:26,600 --> 00:10:29,552 your money and being open with your kids 225 00:10:29,616 --> 00:10:32,208 so they can learn too. And then when they get 226 00:10:32,264 --> 00:10:35,152 money, they will do much better than we will. That is 227 00:10:35,176 --> 00:10:36,940 my hope for everyone. 228 00:10:37,770 --> 00:10:38,226 >> Anthony Weaver: Yeah. 229 00:10:38,258 --> 00:10:41,234 Because one of the things when it comes to financial 230 00:10:41,322 --> 00:10:43,634 literacy, as a content 231 00:10:43,722 --> 00:10:46,642 creator, as, uh, yourself, um, what are the 232 00:10:46,666 --> 00:10:49,666 most important financial literacy topics for the Sam's 233 00:10:49,698 --> 00:10:52,434 generation should be aware of just to kind of 234 00:10:52,442 --> 00:10:55,270 navigate the complex financial situation. 235 00:10:56,890 --> 00:10:59,794 >> Alissa Maizes: So I, I think, you know, whenever 236 00:10:59,842 --> 00:11:02,610 I share something, because like you said, I 237 00:11:02,650 --> 00:11:05,410 really do, you know, or intimated, I do 238 00:11:05,450 --> 00:11:08,402 care about financial literacy. It's really the thing that 239 00:11:08,426 --> 00:11:11,282 motivated me to even start doing what 240 00:11:11,306 --> 00:11:14,146 I'm doing, and it's something I'm 241 00:11:14,178 --> 00:11:17,042 really passionate about, is I would 242 00:11:17,066 --> 00:11:19,874 say the number one thing is to put yourself first 243 00:11:19,962 --> 00:11:22,866 and do something now, no matter how 244 00:11:22,938 --> 00:11:25,938 small it is. If you are looking 245 00:11:25,994 --> 00:11:28,802 at your finances and you're thinking, I 246 00:11:28,826 --> 00:11:31,790 can't do anything, there's just no extra money. 247 00:11:32,430 --> 00:11:35,270 If you could find one thing, it could 248 00:11:35,310 --> 00:11:38,118 be a streaming service. It could be 249 00:11:38,174 --> 00:11:41,170 maybe eat less meat. It could be, 250 00:11:41,520 --> 00:11:44,502 um, maybe you don't need two cars for 251 00:11:44,526 --> 00:11:47,350 your family and you could find a way to deal with 252 00:11:47,390 --> 00:11:50,294 one car. Maybe it's moving in with someone 253 00:11:50,382 --> 00:11:52,998 or finding a less expensive place to live because 254 00:11:53,054 --> 00:11:55,910 Usually where we live is often 255 00:11:55,950 --> 00:11:58,486 costing us the most amount of money. Maybe 256 00:11:58,518 --> 00:12:01,240 it's not sending your kids to 257 00:12:01,280 --> 00:12:04,264 private school or it's a grandparent helping 258 00:12:04,312 --> 00:12:07,240 with the grandkids instead of daycare. Kids did 259 00:12:07,280 --> 00:12:10,264 not have daycare for years and had family 260 00:12:10,352 --> 00:12:13,256 take care of their kids and they were fine. 261 00:12:13,448 --> 00:12:16,264 You know, there's no study 262 00:12:16,352 --> 00:12:19,272 saying that's what threw them all off and that's why they're all 263 00:12:19,296 --> 00:12:22,088 a mess now. Like there's just nothing out there saying 264 00:12:22,144 --> 00:12:25,064 that. And often there are family members 265 00:12:25,152 --> 00:12:27,586 that are very, you know, 266 00:12:27,768 --> 00:12:30,462 grateful to be able to spend more time with the 267 00:12:30,486 --> 00:12:33,130 younger people. And it's good for them too. 268 00:12:33,430 --> 00:12:36,382 So maybe they won't be doing an activity every 269 00:12:36,486 --> 00:12:39,390 15 minutes, but that's okay. The kids will be 270 00:12:39,430 --> 00:12:42,110 fine. And for better or worse, 271 00:12:42,190 --> 00:12:45,150 most kids don't store memories at that age. Like 272 00:12:45,190 --> 00:12:47,838 if you ask them in their 20s, they will not 273 00:12:47,894 --> 00:12:50,670 remember. Maybe they'll remember spending the time with those 274 00:12:50,710 --> 00:12:53,550 people, but they won't remember that they 275 00:12:53,590 --> 00:12:56,270 didn't go to daycare and that, that was an awful 276 00:12:56,350 --> 00:12:59,170 thing. Um, they'll be fine. So I think, 277 00:12:59,350 --> 00:13:02,282 thinking out of the box, think of one thing. Even 278 00:13:02,306 --> 00:13:05,114 if it's $5, you could save and now 279 00:13:05,282 --> 00:13:07,946 if it's high interest, credit card debt, that's 280 00:13:07,978 --> 00:13:10,874 usually a great place to start. Maybe you put an extra 281 00:13:10,922 --> 00:13:13,818 $5 towards paying off that. Ah, if 282 00:13:13,874 --> 00:13:16,842 you have no debt and you're just looking to save a little 283 00:13:16,866 --> 00:13:19,722 bit more for retirement, maybe if you have an 284 00:13:19,746 --> 00:13:22,666 employer, you get in touch with them, you increase your contributions, 285 00:13:22,778 --> 00:13:25,536 or if you don't have an employer and 286 00:13:25,608 --> 00:13:28,432 you could find a, uh, different tax advantaged account 287 00:13:28,536 --> 00:13:31,360 to save for retirement, or even a brokerage account 288 00:13:31,400 --> 00:13:34,112 if you just need some extra money or the 289 00:13:34,136 --> 00:13:36,736 other options aren't open to you or 290 00:13:36,888 --> 00:13:39,744 whatever it might be, the most important thing 291 00:13:39,752 --> 00:13:42,496 is do something and do it now and 292 00:13:42,568 --> 00:13:45,392 celebrate your wins. Whether it's $5 or 293 00:13:45,416 --> 00:13:48,384 $500, whatever it is, it is worth 294 00:13:48,432 --> 00:13:51,248 celebrating because it's doing something. 295 00:13:51,304 --> 00:13:53,728 And those are the things that change your 296 00:13:53,784 --> 00:13:56,260 mindset in a positive wealth 297 00:13:57,460 --> 00:13:59,840 and what will also change your wealth. 298 00:14:00,420 --> 00:14:01,960 >> Anthony Weaver: Okay, I love that. 299 00:14:02,050 --> 00:14:04,668 Um, one of the things that when it comes 300 00:14:04,724 --> 00:14:07,644 to investing, not just in yourself, 301 00:14:07,692 --> 00:14:10,652 because you, you mentioned earlier, which is, I call it the 302 00:14:10,676 --> 00:14:13,516 defense part of finances, which is 303 00:14:13,588 --> 00:14:16,360 cutting back, looking at what you have, 304 00:14:16,670 --> 00:14:19,612 um, and pretty much shrinking everything to the 305 00:14:19,636 --> 00:14:22,492 point where it's like, okay, this is the bare minimum that I'm willing to live 306 00:14:22,516 --> 00:14:25,512 with. Can you talk a little bit about the offense side 307 00:14:25,536 --> 00:14:28,536 of the house? How are we going to make some Money dealing with, 308 00:14:28,608 --> 00:14:30,940 you know, kids and also parents. 309 00:14:31,760 --> 00:14:34,600 >> Alissa Maizes: So I think that that's important too. So I 310 00:14:34,640 --> 00:14:37,380 will. Right now I am working, 311 00:14:37,660 --> 00:14:40,200 um, and I have been for a number of 312 00:14:40,240 --> 00:14:43,160 years. But there were years that I was a stay at home 313 00:14:43,200 --> 00:14:45,540 mom and I 314 00:14:46,000 --> 00:14:48,760 first of all did bring value to my 315 00:14:48,800 --> 00:14:51,320 family. But besides that, I 316 00:14:51,360 --> 00:14:53,620 decided that I would take 317 00:14:54,060 --> 00:14:56,852 greater control of my finances than I 318 00:14:56,876 --> 00:14:59,700 had been. And that is a great 319 00:14:59,740 --> 00:15:02,596 way to make money too. I think a lot of people think 320 00:15:02,668 --> 00:15:05,188 it's just about your job and 321 00:15:05,244 --> 00:15:08,132 certainly that is a great way to bring in money. But I see a lot 322 00:15:08,156 --> 00:15:11,028 of people that are making a few 323 00:15:11,084 --> 00:15:13,940 hundred thousand dollars and they are 324 00:15:13,980 --> 00:15:16,580 not saving anything. They don't have enough for 325 00:15:16,620 --> 00:15:19,540 retirement. I mean their 326 00:15:19,580 --> 00:15:22,310 kids future school is the least of, 327 00:15:22,310 --> 00:15:25,074 uh, their concerns. They're literally living 328 00:15:25,122 --> 00:15:27,682 paycheck to paycheck, eliminating 329 00:15:27,746 --> 00:15:30,562 credit card debt. Some of them have student 330 00:15:30,626 --> 00:15:33,202 loans. It's overwhelming. And I 331 00:15:33,226 --> 00:15:35,986 think the way we manage our money, 332 00:15:36,138 --> 00:15:38,722 although it's not how people think about 333 00:15:38,826 --> 00:15:41,730 earning money, but it earns money. I 334 00:15:41,770 --> 00:15:44,690 mean, that's the truth of it. So even if you 335 00:15:44,730 --> 00:15:47,554 are a stay at home parent, if there's 336 00:15:47,602 --> 00:15:50,434 money that you have or money that's coming in 337 00:15:50,602 --> 00:15:53,570 that you can allocate to your future self or 338 00:15:53,610 --> 00:15:56,466 other goals that you have and invest it 339 00:15:56,618 --> 00:15:59,506 in a diversified portfolio of 340 00:15:59,578 --> 00:16:01,522 low expense mutual funds or 341 00:16:01,546 --> 00:16:04,306 ETFs, you can grow your wealth 342 00:16:04,418 --> 00:16:07,266 and that's earning money too. So that's 343 00:16:07,298 --> 00:16:10,242 one way. But the more traditional way is 344 00:16:10,426 --> 00:16:12,510 having a job or a business. 345 00:16:13,130 --> 00:16:16,080 And I know a lot of people make. It 346 00:16:16,120 --> 00:16:18,832 seemed really easy to have a business and earn money 347 00:16:18,936 --> 00:16:21,744 and it's not. So if you're 348 00:16:21,792 --> 00:16:24,768 thinking, look at what all those people do, it's not 349 00:16:24,824 --> 00:16:27,584 easy. So I don't think people 350 00:16:27,672 --> 00:16:30,640 should just jump into that without realizing how 351 00:16:30,680 --> 00:16:33,664 challenging it really is. Um, before you make, 352 00:16:33,752 --> 00:16:35,820 most people make money. 353 00:16:36,280 --> 00:16:39,200 And the great thing, I'm not saying one is better 354 00:16:39,240 --> 00:16:42,240 than the other. I think whatever is good for you 355 00:16:42,280 --> 00:16:44,970 is great. But don't let the 356 00:16:45,010 --> 00:16:47,770 glamour of entrepreneurship turn you 357 00:16:47,810 --> 00:16:50,650 away from a good job with good 358 00:16:50,690 --> 00:16:53,690 benefits, because there's something to be said for that 359 00:16:53,730 --> 00:16:56,730 as well. I think it's really important to consider both 360 00:16:56,850 --> 00:16:59,722 or a combination and figure out what's best for you. So 361 00:16:59,746 --> 00:17:02,474 that's one way of making money. There are 362 00:17:02,482 --> 00:17:05,418 definitely some other options. It's not my 363 00:17:05,474 --> 00:17:07,978 specialty of, you know, 364 00:17:08,114 --> 00:17:11,002 side gig options. Um, there are 365 00:17:11,026 --> 00:17:13,685 people who specialize in that. But I do think 366 00:17:13,857 --> 00:17:16,637 figuring out what you are good at 367 00:17:16,773 --> 00:17:19,549 and tutoring in that area can 368 00:17:19,589 --> 00:17:22,317 be a great way to make some extra Money. 369 00:17:22,453 --> 00:17:25,405 And the great thing about tutoring is you could do it virtually 370 00:17:25,517 --> 00:17:28,397 or in person. So I think a lot of times 371 00:17:28,453 --> 00:17:31,357 people overlook skill sets that they have and 372 00:17:31,413 --> 00:17:34,013 how they could help people and make some extra 373 00:17:34,061 --> 00:17:36,973 money. And I also think sometimes 374 00:17:37,021 --> 00:17:39,810 just looking under your own roof, um, 375 00:17:39,810 --> 00:17:42,365 to see how you can make 376 00:17:42,437 --> 00:17:45,437 money and maybe there are some items you don't 377 00:17:45,453 --> 00:17:48,346 really need that you could sell. Uh, it's 378 00:17:48,378 --> 00:17:51,066 not something I personally do myself. 379 00:17:51,178 --> 00:17:53,990 I tend to donate or find someone 380 00:17:54,290 --> 00:17:55,390 personally 381 00:17:56,930 --> 00:17:59,690 who really, you know, needs something 382 00:17:59,810 --> 00:18:02,650 and I, it gives me a lot of joy and 383 00:18:02,770 --> 00:18:05,322 I normally would choose that. 384 00:18:05,506 --> 00:18:08,298 But we're, you know, for some people, 385 00:18:08,354 --> 00:18:11,338 they might want to sell something so you could look online and 386 00:18:11,394 --> 00:18:14,280 see what you could sell. But like I said, I think the most 387 00:18:14,320 --> 00:18:17,224 important thing is finding some money. Whether you're 388 00:18:17,272 --> 00:18:19,736 earning extra money or it's the money you already 389 00:18:19,808 --> 00:18:22,380 have, or for instance, 390 00:18:22,720 --> 00:18:25,688 something that comes to mind that is very common 391 00:18:25,864 --> 00:18:28,776 is check in on the money that you have 392 00:18:28,848 --> 00:18:31,832 and see where it is. It's definitely important to have 393 00:18:31,856 --> 00:18:34,792 an emergency fund which would be liquid money that you 394 00:18:34,816 --> 00:18:37,288 could easily access in a money 395 00:18:37,344 --> 00:18:39,736 market or a high yield savings 396 00:18:39,768 --> 00:18:42,652 account. Where's your cash? Because a 397 00:18:42,676 --> 00:18:45,516 lot of people I see have their cash in traditional 398 00:18:45,548 --> 00:18:48,316 brick and mortar bank and they're making less 399 00:18:48,388 --> 00:18:51,292 than 1% on the money. So right then 400 00:18:51,316 --> 00:18:54,220 and there, Anthony, you're talking about how can you 401 00:18:54,260 --> 00:18:56,764 make money? Often that's an easy 402 00:18:56,812 --> 00:18:59,660 fix. Um, and usually people who do 403 00:18:59,700 --> 00:19:02,476 have cash, it's very rare that I find that it's 404 00:19:02,508 --> 00:19:05,100 all in a high yield savings account or money market. 405 00:19:05,220 --> 00:19:08,092 So that would be one thing that might be 406 00:19:08,196 --> 00:19:10,812 right there in front of you right now as you're listening to 407 00:19:10,836 --> 00:19:13,782 this log in, you can listen and log in and 408 00:19:13,806 --> 00:19:16,646 see where your cash is. And then if 409 00:19:16,718 --> 00:19:19,622 it's just sitting there and not making money, then consider 410 00:19:19,806 --> 00:19:22,582 an FDIC insured high yield 411 00:19:22,646 --> 00:19:25,110 savings account, uh, and make sure they are 412 00:19:25,150 --> 00:19:28,070 directly FDIC insured, not a 413 00:19:28,110 --> 00:19:30,998 fintech company that sends 414 00:19:31,094 --> 00:19:33,690 their money to an FDIC insured, 415 00:19:34,060 --> 00:19:36,518 um, bank. Because if 416 00:19:36,574 --> 00:19:39,414 the fintech goes under, it's a 417 00:19:39,422 --> 00:19:42,422 lot harder to get your money because your relationship is 418 00:19:42,446 --> 00:19:44,962 with the fintech company and not with that 419 00:19:45,066 --> 00:19:47,922 FDIC insured bank. Or look at your 420 00:19:47,946 --> 00:19:50,706 money market. If you have a brokerage account, sometimes they 421 00:19:50,778 --> 00:19:53,202 offer a lot as well. And 422 00:19:53,226 --> 00:19:55,470 then beyond your, 423 00:19:56,180 --> 00:19:58,882 um, high yield savings account or money market 424 00:19:58,986 --> 00:20:01,938 for your emergency fund is do you have 425 00:20:01,994 --> 00:20:04,162 excess cash that maybe could be 426 00:20:04,186 --> 00:20:07,042 invested and then that comes back to 427 00:20:07,066 --> 00:20:09,890 the diversified portfolio and making those 428 00:20:09,930 --> 00:20:12,690 tax advantage money moves. Because often I'll meet with 429 00:20:12,730 --> 00:20:15,678 someone and they have a lot of cash beyond 430 00:20:15,774 --> 00:20:18,750 their emergency fund because they're not sure what 431 00:20:18,790 --> 00:20:21,630 the next steps are. And I'm not saying that you 432 00:20:21,670 --> 00:20:23,998 should just go invest it. You should 433 00:20:24,054 --> 00:20:26,382 ideally have expert 434 00:20:26,446 --> 00:20:28,558 advice, not TikTok or 435 00:20:28,614 --> 00:20:31,550 Instagram or your family that you 436 00:20:31,590 --> 00:20:33,966 sat with for the holidays. They don't 437 00:20:33,998 --> 00:20:36,862 necessarily know how to do it, but you 438 00:20:36,886 --> 00:20:39,886 can also research on your own and figure it out. 439 00:20:39,958 --> 00:20:42,830 But just because someone says something that sounds good, even 440 00:20:42,870 --> 00:20:45,790 on cnbc, it's not necessarily the best 441 00:20:45,830 --> 00:20:46,868 thing for you. 442 00:20:47,054 --> 00:20:47,832 >> Anthony Weaver: Yeah. 443 00:20:47,976 --> 00:20:50,968 And, um, one of the things we hear a lot now that 444 00:20:51,024 --> 00:20:53,832 we have some idea of inkling about playing the 445 00:20:53,856 --> 00:20:56,824 offense, um, you talked a 446 00:20:56,832 --> 00:20:59,512 little bit about it, which was the emergency fund. 447 00:20:59,696 --> 00:21:02,500 How much should the emergency fund be? 448 00:21:03,680 --> 00:21:06,552 >> Alissa Maizes: So, generally speaking, people say, you 449 00:21:06,576 --> 00:21:09,352 know, look at your expenses. This is a general rule of 450 00:21:09,376 --> 00:21:12,350 thumb, and it should be three to six months of, 451 00:21:12,350 --> 00:21:14,924 uh, expenses. So 452 00:21:15,092 --> 00:21:18,076 that's a great starting point for a conversation, but 453 00:21:18,148 --> 00:21:20,876 I think it's important to go a little bit further 454 00:21:20,948 --> 00:21:23,900 and think about who is bringing in the 455 00:21:23,940 --> 00:21:26,732 money into your home. So if 456 00:21:26,756 --> 00:21:29,320 it's two people, then 457 00:21:29,620 --> 00:21:32,556 3M. You know, less than six months 458 00:21:32,628 --> 00:21:35,420 might be more reasonable because the 459 00:21:35,460 --> 00:21:38,060 chances of both of you losing your job are 460 00:21:38,100 --> 00:21:40,508 probably less. But if it's one 461 00:21:40,564 --> 00:21:43,318 person, I would err on the side of six 462 00:21:43,374 --> 00:21:46,038 months, because if that one 463 00:21:46,094 --> 00:21:49,046 person loses their job, then there's 464 00:21:49,078 --> 00:21:51,830 no income coming in. But the other 465 00:21:51,870 --> 00:21:54,600 things to consider are things such as, uh, 466 00:21:54,600 --> 00:21:57,510 what's the likelihood of replacing that income? 467 00:21:57,590 --> 00:22:00,502 The job market in certain industries 468 00:22:00,646 --> 00:22:03,446 is much harder than in others. And 469 00:22:03,518 --> 00:22:05,958 so it's really important to be honest with 470 00:22:06,014 --> 00:22:08,742 yourself about the reality of this. 471 00:22:08,926 --> 00:22:11,862 And also, when you're looking at your expenses, maybe there 472 00:22:11,886 --> 00:22:14,882 are some that you would cut if you lost your job. So 473 00:22:14,906 --> 00:22:17,618 it doesn't necessarily have to be the 474 00:22:17,754 --> 00:22:20,706 ideal life you're living now. It could be 475 00:22:20,778 --> 00:22:23,570 the one you're willing to live if you were to lose your 476 00:22:23,610 --> 00:22:26,370 job. And the final thing would be 477 00:22:26,490 --> 00:22:29,442 is think about your comfort level. So 478 00:22:29,466 --> 00:22:32,210 just because it's quote, unquote, six months, 479 00:22:32,330 --> 00:22:35,202 if that's not what you feel comfortable with, I 480 00:22:35,226 --> 00:22:37,954 would probably do more. There are some people who want a 481 00:22:37,962 --> 00:22:40,760 year's worth of expenses, so. 482 00:22:40,850 --> 00:22:43,756 So it's important, you know, like I said earlier, 483 00:22:43,828 --> 00:22:46,700 that needs to be easily accessible. So that does not 484 00:22:46,740 --> 00:22:49,420 mean invest the money, because that's not 485 00:22:49,460 --> 00:22:52,172 easily accessible. Your charge 486 00:22:52,236 --> 00:22:54,988 card is not your emergency fund. Because there are 487 00:22:55,044 --> 00:22:57,740 people who feel that a charge card is an emergency 488 00:22:57,820 --> 00:23:00,108 fund. It isn't. And you could be 489 00:23:00,164 --> 00:23:02,280 charged 30%, 490 00:23:02,810 --> 00:23:05,708 um, on the interest that, ah, you'd have 491 00:23:05,764 --> 00:23:08,492 a new emergency. If you choose that to be your 492 00:23:08,516 --> 00:23:11,372 emergency fund, and it creates unnecessary 493 00:23:11,436 --> 00:23:14,184 stress. Now, if you're not there now and you don't 494 00:23:14,232 --> 00:23:17,176 have that, like I said before, with any 495 00:23:17,248 --> 00:23:19,992 goal, start small, whatever it 496 00:23:20,016 --> 00:23:22,456 is, $5, maybe you're getting a tax 497 00:23:22,528 --> 00:23:25,400 refund. Put that in the emergency fund and then 498 00:23:25,440 --> 00:23:28,248 do $5 a month. Whatever it is, just 499 00:23:28,304 --> 00:23:31,288 do something. Don't, you know, don't be 500 00:23:31,424 --> 00:23:34,200 caught up in what you think you can and can 501 00:23:34,240 --> 00:23:37,060 do. Find a way to do something. 502 00:23:38,570 --> 00:23:41,522 >> Anthony Weaver: Okay, now that we have a way to understand what 503 00:23:41,546 --> 00:23:44,210 our emergency fund is, we have 504 00:23:44,250 --> 00:23:46,578 our HYSA all 505 00:23:46,714 --> 00:23:49,330 covered. What, um, are the 506 00:23:49,370 --> 00:23:51,970 conversations that you are having right now with your 507 00:23:52,010 --> 00:23:54,578 husband, um, as your parents are getting 508 00:23:54,634 --> 00:23:57,522 older, to kind of say, like, hey, what are we 509 00:23:57,546 --> 00:24:00,386 going to do with them in a sense, like other, 510 00:24:00,458 --> 00:24:03,362 like, not like, do with them, like what. But I mean, as 511 00:24:03,386 --> 00:24:06,274 far as if they're going to move in your house or you're going to put them in a 512 00:24:06,282 --> 00:24:09,230 nursing home or you're going to build like, like something extra on the 513 00:24:09,270 --> 00:24:11,838 land, what do you guys said? 514 00:24:11,974 --> 00:24:14,490 >> Alissa Maizes: Yeah, that's a great question. And 515 00:24:14,870 --> 00:24:17,694 our conversations, I guess, are not really 516 00:24:17,782 --> 00:24:20,174 focused on that as much 517 00:24:20,262 --> 00:24:22,766 as trying to honor 518 00:24:22,878 --> 00:24:25,770 really and respect that. 519 00:24:26,710 --> 00:24:29,694 I would want to, for instance, I would want to 520 00:24:29,702 --> 00:24:32,142 make my own decisions and so do our 521 00:24:32,166 --> 00:24:35,022 parents. And so while it could 522 00:24:35,046 --> 00:24:37,486 be great to suggest things, I think we have to be 523 00:24:37,558 --> 00:24:40,220 realistic that. But we're also 524 00:24:40,520 --> 00:24:43,408 respecting, um, the elders 525 00:24:43,504 --> 00:24:46,416 in our lives. And just like with financial 526 00:24:46,488 --> 00:24:49,408 literacy, we set an example for other 527 00:24:49,464 --> 00:24:51,968 people in our lives. And 528 00:24:52,104 --> 00:24:54,816 I definitely don't want my kids making any 529 00:24:54,888 --> 00:24:57,648 decisions for me. I hope that I will never 530 00:24:57,704 --> 00:25:00,140 need my power of attorney to be used. 531 00:25:00,540 --> 00:25:03,520 Um, a power of attorney for anyone who might not 532 00:25:03,560 --> 00:25:06,432 know is it's a document that you should have as part of 533 00:25:06,456 --> 00:25:09,160 your estate planning in the event that you 534 00:25:09,200 --> 00:25:12,072 can't make your own, um, financial 535 00:25:12,176 --> 00:25:14,696 decisions or you need someone to take care of legal 536 00:25:14,728 --> 00:25:17,720 decisions for you, and it could happen to you at 537 00:25:17,760 --> 00:25:20,712 any age. So it's really important to have that if you 538 00:25:20,736 --> 00:25:23,496 don't have that in place. Um, but I'm 539 00:25:23,528 --> 00:25:26,456 hoping that no one will ever need to use mine. 540 00:25:26,488 --> 00:25:29,432 And I can make my own decisions. So I 541 00:25:29,456 --> 00:25:32,264 think it's really important to think about 542 00:25:32,352 --> 00:25:35,192 that when we think about the future of 543 00:25:35,216 --> 00:25:37,722 our lives and anyone in our 544 00:25:37,746 --> 00:25:40,522 life. So I'm hoping my parents will be 545 00:25:40,546 --> 00:25:43,242 able to continue to make their own decisions. 546 00:25:43,386 --> 00:25:45,978 I've always said to them, so I'm an only 547 00:25:46,034 --> 00:25:49,018 child and my parents always said, 548 00:25:49,154 --> 00:25:52,010 you know, my mom once Said to me, why are you so focused on 549 00:25:52,050 --> 00:25:54,762 saving for the future and you're an only child? 550 00:25:54,866 --> 00:25:57,546 And I said, mom, you're. 551 00:25:57,738 --> 00:26:00,250 She had me when she was 20. Okay, 552 00:26:00,330 --> 00:26:03,242 okay. So I said to her, I'm like, we could end 553 00:26:03,266 --> 00:26:06,250 up being in, like, you know, rooms at the same 554 00:26:06,290 --> 00:26:08,854 hallway at the same nursing home, right? Like. 555 00:26:09,022 --> 00:26:11,846 So I said, I think, uh, my feeling 556 00:26:11,878 --> 00:26:14,838 is. And I said to her, I said, uh, just enjoy your life 557 00:26:14,894 --> 00:26:17,798 and your money. I'll take care of myself, and you 558 00:26:17,854 --> 00:26:20,774 do what's best for you. Don't worry about me. 559 00:26:20,942 --> 00:26:23,862 You should spend your money, you should enjoy it. You should be able 560 00:26:23,886 --> 00:26:26,566 to take care of yourself. I think it's so important, 561 00:26:26,718 --> 00:26:29,558 if you're someone who has a 562 00:26:29,614 --> 00:26:32,054 parent and who's alive 563 00:26:32,102 --> 00:26:34,758 and you are taking money from them 564 00:26:34,814 --> 00:26:37,450 now, is to maybe instead of 565 00:26:37,490 --> 00:26:40,202 thinking how you're going to have to take care of them, is 566 00:26:40,306 --> 00:26:43,050 cut off the money that you're receiving from your 567 00:26:43,090 --> 00:26:45,962 parents to increase the chance that they could take care 568 00:26:45,986 --> 00:26:48,810 of themselves. Because it gives them a 569 00:26:48,850 --> 00:26:51,562 great feeling of sense, especially if down the 570 00:26:51,586 --> 00:26:54,522 road they can't make the legal decisions and 571 00:26:54,546 --> 00:26:57,210 you are the power of attorney. But for them to 572 00:26:57,250 --> 00:27:00,030 know that they can take care of themselves. 573 00:27:01,010 --> 00:27:03,402 So I'm really focused on that 574 00:27:03,506 --> 00:27:06,442 outlook of, uh, them being able to take care of 575 00:27:06,466 --> 00:27:09,158 themselves and make their decisions, decisions. 576 00:27:09,254 --> 00:27:11,686 And what we do is we 577 00:27:11,838 --> 00:27:14,550 focus on trying to go see our 578 00:27:14,590 --> 00:27:17,238 parents because it's easier for us at this 579 00:27:17,294 --> 00:27:20,182 time to go visit them. We live in Florida, 580 00:27:20,246 --> 00:27:23,110 they live in New York. So our focus is 581 00:27:23,150 --> 00:27:26,070 that and being for them and, uh, being there for them 582 00:27:26,110 --> 00:27:28,750 in other ways. My parents had, um, 583 00:27:28,830 --> 00:27:31,766 a flood, uh, in their home, and 584 00:27:31,838 --> 00:27:34,838 I went to their house, and I was 585 00:27:34,894 --> 00:27:37,702 there almost monthly, going back and forth from 586 00:27:37,726 --> 00:27:40,620 Florida to New York for months and 587 00:27:40,660 --> 00:27:43,372 staying there for a week at a time, two weeks at a 588 00:27:43,396 --> 00:27:45,580 time, helping to go through all their 589 00:27:45,620 --> 00:27:48,428 belongings from the flood, dealing with 590 00:27:48,484 --> 00:27:51,244 insurance company, dealing with the contractor to fix 591 00:27:51,292 --> 00:27:54,204 things in their home. And it was 592 00:27:54,292 --> 00:27:57,212 really great time that I got to spend with them. So 593 00:27:57,236 --> 00:28:00,060 I'm grateful for that. So I think there are other ways we 594 00:28:00,100 --> 00:28:03,068 can help our family, but certainly we 595 00:28:03,124 --> 00:28:05,788 might. Not us, but just in general, 596 00:28:05,924 --> 00:28:07,640 right. As children, 597 00:28:08,630 --> 00:28:11,422 besides being there for our parents in that way, there 598 00:28:11,446 --> 00:28:14,350 might be other ways we need to be there. But 599 00:28:14,390 --> 00:28:17,022 I think if we are not aware of it, 600 00:28:17,206 --> 00:28:20,030 certainly if you want to put aside money for that as 601 00:28:20,070 --> 00:28:23,070 well, or if you know you're saving enough or you'll cut 602 00:28:23,110 --> 00:28:26,062 back your expenses to do it, I think 603 00:28:26,086 --> 00:28:28,170 that that's always an option too. 604 00:28:28,470 --> 00:28:30,910 >> Anthony Weaver: It is A blessing that you had the 605 00:28:30,950 --> 00:28:33,886 finances and the means to actually 606 00:28:33,958 --> 00:28:36,912 spend time with them, uh, to make 607 00:28:36,936 --> 00:28:39,792 that happen. And I think that's one of the things when it comes to the 608 00:28:39,816 --> 00:28:42,688 Sandwich generation, you got to save a little bit more than your 609 00:28:42,744 --> 00:28:45,664 personal expenses of your day to day, but also, 610 00:28:45,752 --> 00:28:48,496 like you said, for emergencies, if you're 611 00:28:48,528 --> 00:28:51,520 not local, to spend with your 612 00:28:51,560 --> 00:28:53,856 loved ones during the time of need. 613 00:28:54,008 --> 00:28:56,960 >> Alissa Maizes: Yeah, I allocate a lot of money 614 00:28:57,080 --> 00:29:00,016 to travel, and most of our travel, because 615 00:29:00,088 --> 00:29:02,864 we aren't living in the same state as our family 616 00:29:03,032 --> 00:29:05,722 is literally going to the Northeast. 617 00:29:05,896 --> 00:29:08,662 You know, everyone's either in New York, and I 618 00:29:08,686 --> 00:29:11,490 have one son in the Boston area. 619 00:29:11,790 --> 00:29:14,662 So, you know, JetBlue and I 620 00:29:14,686 --> 00:29:15,730 are good friends, 621 00:29:17,550 --> 00:29:20,134 and that's what I do. And I'm 622 00:29:20,182 --> 00:29:22,838 hoping, you know, to continue spending more time 623 00:29:22,894 --> 00:29:25,190 there, because that's what I 624 00:29:25,230 --> 00:29:27,650 prioritize is my time with 625 00:29:28,030 --> 00:29:29,926 my friends and my family and 626 00:29:29,998 --> 00:29:32,630 relationships. You know, relationships are 627 00:29:32,670 --> 00:29:35,302 everything. But for me, that's something really 628 00:29:35,326 --> 00:29:35,890 important. 629 00:29:37,690 --> 00:29:40,610 >> Anthony Weaver: So what are the boundaries that you set, uh, for 630 00:29:40,650 --> 00:29:43,602 your children or should people set for 631 00:29:43,626 --> 00:29:44,390 themselves? 632 00:29:45,690 --> 00:29:48,322 >> Alissa Maizes: So, as I've said before, it's so important to 633 00:29:48,346 --> 00:29:51,234 prioritize yourself. I think financial 634 00:29:51,322 --> 00:29:53,858 boundaries for your children at every age 635 00:29:53,994 --> 00:29:56,946 are preferable, because 636 00:29:57,098 --> 00:30:00,082 the only way you could prioritize your own finances is 637 00:30:00,106 --> 00:30:02,850 if you're not constantly taking care of your 638 00:30:02,890 --> 00:30:05,890 kids, even when they probably don't need the 639 00:30:05,930 --> 00:30:08,830 financial help. So my kids 640 00:30:08,910 --> 00:30:11,662 always knew, for instance, growing up, when they 641 00:30:11,686 --> 00:30:14,590 were starting to go out and spend money. I had 642 00:30:14,630 --> 00:30:17,342 tried allowance, and it was more of a daunting 643 00:30:17,406 --> 00:30:20,254 task for me than anything else. And 644 00:30:20,342 --> 00:30:23,326 I don't think it's necessary. I know this is controversial, 645 00:30:23,358 --> 00:30:26,318 but I don't think it's necessary to give your kids allowance, 646 00:30:26,414 --> 00:30:29,278 let alone money that they didn't earn, because 647 00:30:29,334 --> 00:30:32,250 I know no one's going to give me money unless I earn it. 648 00:30:32,790 --> 00:30:34,890 So I had decided to 649 00:30:35,590 --> 00:30:38,046 stop doing the allowance at a very young 650 00:30:38,118 --> 00:30:41,022 age. And instead what 651 00:30:41,046 --> 00:30:43,950 I would do is if they were going out, I told them 652 00:30:44,070 --> 00:30:46,958 if they got receipts for their 653 00:30:47,014 --> 00:30:49,966 spending, so they had some cash that they had gone 654 00:30:49,998 --> 00:30:52,862 from gifts. But if they had receipts or 655 00:30:52,886 --> 00:30:55,822 I knew sometimes it wasn't like something they could do 656 00:30:55,846 --> 00:30:58,702 is get a receipt, but they came home and told me right 657 00:30:58,726 --> 00:31:01,558 away this is exactly what I spent it on, 658 00:31:01,734 --> 00:31:04,662 then I would give them the money for it. There were 659 00:31:04,686 --> 00:31:07,670 a few times in the beginning that, uh, it might 660 00:31:07,710 --> 00:31:10,454 have been forgotten, the receipts or to ask, 661 00:31:10,542 --> 00:31:13,014 and they didn't get the money. So they quickly 662 00:31:13,062 --> 00:31:15,942 understood what they had to do to get 663 00:31:15,966 --> 00:31:18,854 the money that's how I dealt with it when they 664 00:31:18,862 --> 00:31:21,830 were younger. Now I have one who is out 665 00:31:21,870 --> 00:31:24,662 of college and one who is about to be out of 666 00:31:24,686 --> 00:31:27,430 college. We have created, 667 00:31:27,510 --> 00:31:30,342 as we did then, very clear boundaries of 668 00:31:30,366 --> 00:31:32,930 what we're willing to pay for and what we're not. 669 00:31:33,370 --> 00:31:36,150 So the only thing that we will ongoing 670 00:31:37,210 --> 00:31:39,266 provide for them until age 671 00:31:39,338 --> 00:31:41,730 26 is as long as we have 672 00:31:41,770 --> 00:31:44,690 healthcare insurance that we will give 673 00:31:44,730 --> 00:31:47,650 them the choice of being a part of it. It doesn't cost us 674 00:31:47,690 --> 00:31:50,450 that much. And the reality is for 675 00:31:50,490 --> 00:31:52,562 them, if one of my kids is an 676 00:31:52,586 --> 00:31:55,570 entrepreneur, the one graduating from college, 677 00:31:55,730 --> 00:31:58,242 for him to get good healthcare would cost a 678 00:31:58,266 --> 00:32:00,930 fortune. And truthfully it doesn't cost us 679 00:32:00,970 --> 00:32:03,810 much and we want to be able 680 00:32:03,850 --> 00:32:06,046 to provide it and we can do, uh, up to age 681 00:32:06,118 --> 00:32:09,022 26. So we decided we would offer it to 682 00:32:09,046 --> 00:32:11,934 both of them because that's something that's important 683 00:32:12,022 --> 00:32:14,782 to us, that they have good health care. And the 684 00:32:14,806 --> 00:32:17,614 other thing is we decided to just throw in the cell 685 00:32:17,662 --> 00:32:20,110 phone up to that age. So everyone knows 686 00:32:20,190 --> 00:32:22,990 26, you're on your own for those two 687 00:32:23,030 --> 00:32:25,870 things and everything else. There are other things we pay 688 00:32:25,910 --> 00:32:28,766 for from time to time, um, arguably 689 00:32:28,878 --> 00:32:31,742 self serving things, um, whether 690 00:32:31,846 --> 00:32:34,798 because we want to get our kids something special that they 691 00:32:34,854 --> 00:32:37,786 otherwise wouldn't get themselves, like gift 692 00:32:37,898 --> 00:32:40,634 or it could be of course, airline 693 00:32:40,682 --> 00:32:43,194 tickets home. Okay, I know it's self 694 00:32:43,242 --> 00:32:46,234 serving, but I feel that's okay 695 00:32:46,282 --> 00:32:49,130 too. It saves them some money and they know they 696 00:32:49,170 --> 00:32:51,994 could always come home and not let money be the barrier 697 00:32:52,042 --> 00:32:54,666 to them coming home and then some other, 698 00:32:54,818 --> 00:32:57,658 you know, miscellaneous things like meals out and things 699 00:32:57,714 --> 00:33:00,538 like that. But generally speaking, I think it's really 700 00:33:00,594 --> 00:33:03,386 important the kids are on their own. That 701 00:33:03,458 --> 00:33:06,170 people aren't continuously funding their 702 00:33:06,210 --> 00:33:08,910 kids. I think it's not good for. 703 00:33:09,090 --> 00:33:12,070 It doesn't give them the ability to do it on 704 00:33:12,110 --> 00:33:14,950 their own. And when does it stop and 705 00:33:14,990 --> 00:33:17,894 how do you balance your finances? And I've 706 00:33:17,942 --> 00:33:20,470 seen this where people who are 707 00:33:20,510 --> 00:33:22,758 literally want to 708 00:33:22,814 --> 00:33:25,638 retire but they're paying for 709 00:33:25,774 --> 00:33:28,342 everything from the car insurance to the 710 00:33:28,366 --> 00:33:31,254 car to the upkeep of the car. And there 711 00:33:31,342 --> 00:33:34,086 these are people who want to retire and they're 712 00:33:34,118 --> 00:33:36,880 accumulating credit card debt because they 713 00:33:36,920 --> 00:33:39,328 don't have enough money, but they don't 714 00:33:39,424 --> 00:33:42,272 cut the expenses that they're covering for 715 00:33:42,296 --> 00:33:45,120 their grown kids who could afford themselves. And 716 00:33:45,160 --> 00:33:48,000 truthfully if they can't, they shouldn't have all these 717 00:33:48,040 --> 00:33:50,784 things that they can't afford. So I know 718 00:33:50,872 --> 00:33:53,792 that might not be the most popular thing, but I do 719 00:33:53,816 --> 00:33:56,528 think it's important that we let our Kids know, 720 00:33:56,584 --> 00:33:58,940 we know they could do it on their own. 721 00:33:59,240 --> 00:34:02,060 And like I said before, that's, that's 722 00:34:02,140 --> 00:34:05,084 what generational wealth is about. It's about giving 723 00:34:05,132 --> 00:34:07,836 them the tools and also letting them know 724 00:34:07,908 --> 00:34:10,660 we are confident that they could do it, uh, 725 00:34:10,676 --> 00:34:13,612 empower them to do it on their own and at 726 00:34:13,636 --> 00:34:16,268 the same time increase your finances. So 727 00:34:16,404 --> 00:34:19,004 look at what you're doing for your kids right now 728 00:34:19,172 --> 00:34:22,140 and just be honest with them because I do think 729 00:34:22,180 --> 00:34:24,812 it's not fair to just 730 00:34:24,916 --> 00:34:27,750 surprise them. And all of a sudden it 731 00:34:27,790 --> 00:34:30,502 hits them, um, have a conversation with 732 00:34:30,526 --> 00:34:33,174 them, tell them, tell them what the boundaries 733 00:34:33,222 --> 00:34:35,718 are. I think it'll really be better for 734 00:34:35,774 --> 00:34:36,370 everyone. 735 00:34:37,280 --> 00:34:40,214 >> Anthony Weaver: Um, so we coming down to the third segment 736 00:34:40,262 --> 00:34:43,254 of the show, which is the features. 737 00:34:43,382 --> 00:34:45,090 So what areas of focus, 738 00:34:45,840 --> 00:34:48,646 um, are you looking to improve 739 00:34:48,718 --> 00:34:49,890 in your own life? 740 00:34:50,430 --> 00:34:53,366 >> Alissa Maizes: So I really am focusing 741 00:34:53,478 --> 00:34:56,448 on my, you know 742 00:34:56,504 --> 00:34:59,456 what, I guess what makes me happy is really 743 00:34:59,528 --> 00:35:02,496 my focus. So I feel that I'm 744 00:35:02,528 --> 00:35:04,860 in a good place as far as 745 00:35:05,640 --> 00:35:08,624 financially. I feel that I'm, um, comfortable 746 00:35:08,672 --> 00:35:11,552 where I am. I still spend time on my 747 00:35:11,576 --> 00:35:14,240 own finances too. I'm grateful to 748 00:35:14,280 --> 00:35:16,928 help other people. So my 749 00:35:16,984 --> 00:35:19,980 focus would motivates me in my, 750 00:35:20,250 --> 00:35:23,118 um, pursuits as far as helping people 751 00:35:23,254 --> 00:35:25,646 is really to empower them 752 00:35:25,798 --> 00:35:28,574 to have what I have financially, 753 00:35:28,702 --> 00:35:31,358 to be able to feel confident with my 754 00:35:31,414 --> 00:35:34,366 finances and do things on my own. 755 00:35:34,518 --> 00:35:37,502 But I too, you have a team 756 00:35:37,526 --> 00:35:40,446 of experts. So I think it's important 757 00:35:40,598 --> 00:35:43,262 to, you know, be able to 758 00:35:43,446 --> 00:35:46,238 allow other people to have the same tools. 759 00:35:46,334 --> 00:35:49,262 I don't think it's fair to gatekeep. So 760 00:35:49,286 --> 00:35:51,690 that's really my focus with that. So 761 00:35:52,050 --> 00:35:54,618 as we shared before, whether it's providing 762 00:35:54,714 --> 00:35:57,514 free financial literacy that 763 00:35:57,602 --> 00:36:00,538 people can learn from, that's really important 764 00:36:00,674 --> 00:36:03,466 and focusing on helping clients, 765 00:36:03,578 --> 00:36:06,378 I also, and I think this is a really 766 00:36:06,434 --> 00:36:09,210 great resource if you are a 767 00:36:09,250 --> 00:36:11,674 woman who cannot 768 00:36:11,802 --> 00:36:14,426 or at this time m afford 769 00:36:14,618 --> 00:36:17,402 a, uh, financial advisor. Savvy 770 00:36:17,466 --> 00:36:20,362 Ladies is a great resource and 771 00:36:20,386 --> 00:36:23,134 I do provide pro bono advising 772 00:36:23,322 --> 00:36:26,150 for clients of Savvy Ladies. It is a non for 773 00:36:26,190 --> 00:36:29,094 profit and they're helping ladies 774 00:36:29,222 --> 00:36:32,198 with their money. So I think it's great. It's a little 775 00:36:32,254 --> 00:36:34,646 different than ongoing financial advising 776 00:36:34,758 --> 00:36:37,410 because you put in the information 777 00:36:37,870 --> 00:36:40,550 and then someone selects you 778 00:36:40,670 --> 00:36:43,622 based on what your interests are of what you want to 779 00:36:43,646 --> 00:36:46,598 tackle. And it's not ongoing, but 780 00:36:46,654 --> 00:36:49,526 it's great. And uh, you get people like me that are 781 00:36:49,598 --> 00:36:52,310 volunteering and I'm really grateful 782 00:36:52,390 --> 00:36:55,338 for that. So I want to share that as well. Even though it's 783 00:36:55,354 --> 00:36:58,346 not exactly the question, but it is something 784 00:36:58,418 --> 00:37:01,370 that I prioritize. But the other thing I 785 00:37:01,410 --> 00:37:04,250 prioritize, like I was touching upon, is the 786 00:37:04,290 --> 00:37:07,130 time I spend with my family and friends is 787 00:37:07,250 --> 00:37:09,834 precious to me. So 788 00:37:10,002 --> 00:37:12,858 I am very focused on trying to spend more time 789 00:37:12,914 --> 00:37:15,706 going up north. So I've always 790 00:37:15,778 --> 00:37:18,314 been doing that, but even more so 791 00:37:18,402 --> 00:37:21,322 as I'm more aware that that's really what 792 00:37:21,346 --> 00:37:24,250 makes me happy. Uh, and there are things that make me 793 00:37:24,290 --> 00:37:27,240 happy at home also, but being with 794 00:37:27,280 --> 00:37:30,104 my loved ones, there's just no dollar 795 00:37:30,152 --> 00:37:32,856 amount that I could think of to equate with it. 796 00:37:33,008 --> 00:37:35,992 The feeling is just beyond priceless 797 00:37:36,056 --> 00:37:38,904 for me. So those are the things I focus 798 00:37:38,992 --> 00:37:41,820 on and then my relationship with myself. 799 00:37:42,300 --> 00:37:45,016 M. So I think when I 800 00:37:45,088 --> 00:37:47,640 started. When we started, um, speaking 801 00:37:47,720 --> 00:37:50,072 today, we talked about the importance of 802 00:37:50,096 --> 00:37:52,956 prioritizing your own needs. Needs. And 803 00:37:53,028 --> 00:37:55,948 so at the end of the day, and I'm sure we're 804 00:37:55,964 --> 00:37:58,760 going to agree on this, Anthony and everyone else, too, 805 00:37:59,860 --> 00:38:02,812 if we look in the mirror right now, which Anthony and 806 00:38:02,836 --> 00:38:05,550 I can't, but other people can, um, 807 00:38:06,020 --> 00:38:08,988 you are going to be the person you are always 808 00:38:09,044 --> 00:38:12,000 with, no matter what. We can't guarantee 809 00:38:12,500 --> 00:38:15,340 everyone else in our life and who will be in our 810 00:38:15,380 --> 00:38:17,980 life at different points of our life, but we've got 811 00:38:18,020 --> 00:38:20,872 ourselves. So think about 812 00:38:20,976 --> 00:38:23,272 what's going to make you be able 813 00:38:23,376 --> 00:38:26,168 to live the life that you want to live, 814 00:38:26,224 --> 00:38:29,100 whether it's tackling a financial goal 815 00:38:29,600 --> 00:38:32,260 or it's taking care of your health, 816 00:38:32,880 --> 00:38:35,220 it's taking care of your mental health 817 00:38:35,600 --> 00:38:38,472 or physical health, to be clear on 818 00:38:38,496 --> 00:38:40,660 that, because they're both very important. 819 00:38:41,280 --> 00:38:44,280 Think about what that is, what you need 820 00:38:44,320 --> 00:38:47,240 to do in order to live a long life 821 00:38:47,280 --> 00:38:50,064 and be happy with the person you look, 822 00:38:50,112 --> 00:38:52,220 look in the mirror and you see. 823 00:38:52,520 --> 00:38:54,280 >> Anthony Weaver: Yeah, awesome. 824 00:38:54,280 --> 00:38:57,280 Uh, well, thank you for providing that 825 00:38:57,320 --> 00:39:00,144 information and also giving out, uh, a little extra information 826 00:39:00,232 --> 00:39:02,896 for everybody as a takeaway from this 827 00:39:02,968 --> 00:39:05,792 show today. So you ready for 828 00:39:05,816 --> 00:39:07,376 the final four questions? 829 00:39:07,568 --> 00:39:08,688 >> Alissa Maizes: I hope so. 830 00:39:08,824 --> 00:39:11,340 >> Anthony Weaver: Okay, you got this. 831 00:39:12,020 --> 00:39:14,704 Um, because you've been on the show before, I 832 00:39:14,872 --> 00:39:17,580 adjusted these questions just a little bit. 833 00:39:17,800 --> 00:39:20,540 Uh, so these going to be strictly for you. 834 00:39:25,290 --> 00:39:27,874 Number one, what is the biggest 835 00:39:27,922 --> 00:39:30,594 obstacle you face in trying to build 836 00:39:30,682 --> 00:39:31,590 your wealth? 837 00:39:32,010 --> 00:39:34,402 >> Alissa Maizes: Wow. The biggest 838 00:39:34,466 --> 00:39:37,186 obstacle I. So it's 839 00:39:37,218 --> 00:39:40,210 not exactly the building the wealth, 840 00:39:40,290 --> 00:39:42,882 but it's a little. I think the biggest 841 00:39:42,946 --> 00:39:45,618 obstacle that I have in building my 842 00:39:45,674 --> 00:39:47,250 wealth is 843 00:39:47,790 --> 00:39:49,970 enjoying spending it. 844 00:39:51,390 --> 00:39:54,262 So, uh, you know, one of 845 00:39:54,286 --> 00:39:56,370 the money mindsets that 846 00:39:57,470 --> 00:40:00,326 people have is vigilance. Which 847 00:40:00,398 --> 00:40:02,982 one would think, oh, my gosh, that's so great. You have 848 00:40:03,006 --> 00:40:05,526 vigilance and you can, you know, 849 00:40:05,598 --> 00:40:08,230 be mindful and not spend as 850 00:40:08,270 --> 00:40:11,062 much, but it's that balance, right, 851 00:40:11,166 --> 00:40:13,792 of having, uh, enough and 852 00:40:13,896 --> 00:40:16,672 spending enough of enjoying your life 853 00:40:16,776 --> 00:40:19,568 and also making sure 854 00:40:19,624 --> 00:40:22,480 you're building wealth. So while I think it's great to build 855 00:40:22,520 --> 00:40:25,072 wealth and most people don't have a 856 00:40:25,096 --> 00:40:28,000 vigilant mindset, so it's not 857 00:40:28,040 --> 00:40:30,848 something that is necessarily relatable to everyone. 858 00:40:30,984 --> 00:40:33,792 But what's important to know is that everyone 859 00:40:33,896 --> 00:40:36,608 has money challenges, myself included. 860 00:40:36,704 --> 00:40:39,686 I'm much better at, ah, being mindful and 861 00:40:39,808 --> 00:40:42,714 spending money than I used to be because I got 862 00:40:42,802 --> 00:40:45,670 so used to saving money and investing the money 863 00:40:46,210 --> 00:40:48,190 that I realized, 864 00:40:49,090 --> 00:40:52,042 what's the point of all this if you're not enjoying it 865 00:40:52,066 --> 00:40:54,954 as much? So obviously, if I'm going back and forth 866 00:40:55,002 --> 00:40:57,914 to see my family and that brings me joy, I'm spending 867 00:40:57,962 --> 00:41:00,842 money. It's not that I'm not, but what I do when 868 00:41:00,866 --> 00:41:03,706 there's something that I hesitate on, I 869 00:41:03,778 --> 00:41:06,650 run through the numbers to remind myself that I 870 00:41:06,690 --> 00:41:09,578 can afford it and then think about, is it something 871 00:41:09,634 --> 00:41:12,470 I value? And if it is and it makes sense 872 00:41:12,550 --> 00:41:15,478 and I'm not going to lose sleep over it, then I'm 873 00:41:15,494 --> 00:41:18,310 going to do it. So wherever you 874 00:41:18,350 --> 00:41:21,142 are, you might have some challenges, but know 875 00:41:21,246 --> 00:41:23,942 that whatever they are, that you can 876 00:41:23,966 --> 00:41:26,774 definitely overcome them. And it's important to enjoy 877 00:41:26,822 --> 00:41:29,398 your life too, not just to 878 00:41:29,534 --> 00:41:32,390 save wherever you can. I'm not that person who 879 00:41:32,430 --> 00:41:35,414 says, like, cut back on everything, like Tony 880 00:41:35,462 --> 00:41:38,102 was referring to that. Some people see it that 881 00:41:38,126 --> 00:41:40,988 way. That's not what it's about. It's about 882 00:41:41,174 --> 00:41:43,840 doing what you value most. And if accumulating 883 00:41:43,920 --> 00:41:46,672 wealth so you could sleep better at night is what you 884 00:41:46,696 --> 00:41:49,472 value most, and it means cutting back on everything 885 00:41:49,576 --> 00:41:52,560 for a certain period of time to get there. Know 886 00:41:52,600 --> 00:41:55,552 that you could do that too, right? 887 00:41:55,736 --> 00:41:58,512 You can do it, whatever it is. You just have 888 00:41:58,536 --> 00:42:01,280 to, you know, look at your mindset 889 00:42:01,440 --> 00:42:04,400 and figure that out and then make your 890 00:42:04,440 --> 00:42:07,344 plan and don't let all the noise around you get in the 891 00:42:07,352 --> 00:42:10,196 way. All that stuff you see on social media, that it's 892 00:42:10,228 --> 00:42:12,720 usually not exactly what it looks like. 893 00:42:13,420 --> 00:42:14,920 >> Anthony Weaver: That is so true. 894 00:42:15,820 --> 00:42:18,756 Number two, uh, what is one 895 00:42:18,828 --> 00:42:21,236 area you feel you could be more 896 00:42:21,308 --> 00:42:24,212 efficient or strategic with, uh, when it 897 00:42:24,236 --> 00:42:26,360 comes to your spending or saving? 898 00:42:29,020 --> 00:42:31,620 >> Alissa Maizes: I don't know if there's one area per 899 00:42:31,660 --> 00:42:34,500 se, but one thing that I have 900 00:42:34,540 --> 00:42:36,804 been working on is really 901 00:42:36,972 --> 00:42:39,972 revisiting my finances more than I 902 00:42:39,996 --> 00:42:42,928 was, especially at this point. I have one 903 00:42:42,984 --> 00:42:45,968 son that already graduated from college and the other one who's 904 00:42:45,984 --> 00:42:48,848 about to and making sure 905 00:42:48,904 --> 00:42:51,776 that each part of, uh, my finances 906 00:42:51,808 --> 00:42:54,224 is taken care of, such as my estate 907 00:42:54,272 --> 00:42:57,104 planning which I had 908 00:42:57,192 --> 00:43:00,016 not taken care of. And I actually recently 909 00:43:00,088 --> 00:43:02,896 did LinkedIn posts kind of joking around that it's 910 00:43:02,928 --> 00:43:05,780 almost old enough to drink legally 911 00:43:06,440 --> 00:43:09,440 Bold. So I think, you 912 00:43:09,480 --> 00:43:12,272 know, making sure that I'm, um, doing 913 00:43:12,456 --> 00:43:15,180 what I do for my clients, for 914 00:43:15,220 --> 00:43:18,140 myself, and so that's one thing. And 915 00:43:18,180 --> 00:43:21,080 also looking at how 916 00:43:21,380 --> 00:43:24,172 I can also make more tax advantage 917 00:43:24,236 --> 00:43:26,200 moves. So I know a lot of people 918 00:43:26,900 --> 00:43:29,404 feel, oh, quote 919 00:43:29,452 --> 00:43:32,156 unquote, that is for the wealthy or 920 00:43:32,228 --> 00:43:35,148 that is for those people. And none of those things 921 00:43:35,204 --> 00:43:38,108 are for me. There are tax advantage money 922 00:43:38,164 --> 00:43:41,084 moves for everyone, no matter what your income 923 00:43:41,132 --> 00:43:43,800 is or how much money you have in the bank. 924 00:43:44,100 --> 00:43:46,992 So it's a matter of finding out what they are, 925 00:43:47,096 --> 00:43:50,064 whether you need to speak to an expert or do the research 926 00:43:50,152 --> 00:43:53,152 yourself and then make those moves 927 00:43:53,216 --> 00:43:55,952 because there are tax advantage things you could do with your 928 00:43:55,976 --> 00:43:58,832 money. And so, um, I'm always reading up 929 00:43:58,856 --> 00:44:01,180 on that so I can always 930 00:44:01,720 --> 00:44:04,464 know the latest in taxes and do those 931 00:44:04,552 --> 00:44:07,100 for myself as well as help other people. 932 00:44:07,640 --> 00:44:10,460 >> Anthony Weaver: Nice number. Uh, three. 933 00:44:11,990 --> 00:44:14,922 Um, is there a book that inspired 934 00:44:14,986 --> 00:44:17,470 your journey or changed your perspective? 935 00:44:19,410 --> 00:44:22,362 >> Alissa Maizes: So I feel like there's definitely books out 936 00:44:22,386 --> 00:44:25,130 there, but there's a book I'm really 937 00:44:25,170 --> 00:44:27,962 enjoying now that I am 938 00:44:27,986 --> 00:44:30,538 listening to the audiobook. I'm a big audiobook 939 00:44:30,634 --> 00:44:33,050 person. I, uh, just feel that I can 940 00:44:33,090 --> 00:44:36,090 multitask and listen to an audiobook and make sure I 941 00:44:36,130 --> 00:44:38,890 get through it. So I'm going to share it. It's by 942 00:44:38,930 --> 00:44:41,370 Mel Robbins, so if you don't know who she 943 00:44:41,410 --> 00:44:44,250 is, definitely, you 944 00:44:44,290 --> 00:44:46,890 know, give Google her and you'll see right 945 00:44:46,930 --> 00:44:49,850 away. But I am listening to her new 946 00:44:49,890 --> 00:44:52,602 book, which is Let Them, and 947 00:44:52,626 --> 00:44:55,466 it's all about how to 948 00:44:55,538 --> 00:44:58,474 see things differently. And I think it's a really 949 00:44:58,562 --> 00:45:00,874 great book to allow 950 00:45:00,962 --> 00:45:03,690 you, um, the philosophy is about 951 00:45:03,810 --> 00:45:06,548 letting them, for instance, people 952 00:45:06,604 --> 00:45:09,380 around you do what they're going to do and not 953 00:45:09,420 --> 00:45:12,340 trying to change them. And then the other part 954 00:45:12,380 --> 00:45:15,108 I haven't quite dug into yet 955 00:45:15,244 --> 00:45:18,228 is the part of them what you're supposed to do, because 956 00:45:18,284 --> 00:45:21,040 it's not easy to let people do things 957 00:45:21,500 --> 00:45:24,372 that you don't want them to or you think isn't 958 00:45:24,436 --> 00:45:27,172 ideal around you. And. But the 959 00:45:27,196 --> 00:45:29,652 reality is you're not going to change people. 960 00:45:29,836 --> 00:45:32,724 And I've lived long enough to know that for sure. 961 00:45:32,812 --> 00:45:35,780 They might change certain things about them, but 962 00:45:35,820 --> 00:45:38,736 how do we deal with, with that? Because Let them sounds like a 963 00:45:38,808 --> 00:45:41,488 really great idea when I heard about it, but 964 00:45:41,624 --> 00:45:44,380 I'm still struggling with the other part, 965 00:45:44,760 --> 00:45:47,568 which is how do I deal with things so I 966 00:45:47,624 --> 00:45:50,160 can let them do it and I could still be 967 00:45:50,200 --> 00:45:52,770 happy. And so I think it, uh, 968 00:45:53,128 --> 00:45:56,048 so far, I think it sounds like a great 969 00:45:56,104 --> 00:45:58,912 thing that could be a game changer for me and something you could 970 00:45:58,936 --> 00:46:01,776 apply in your personal life 971 00:46:01,928 --> 00:46:04,544 as well as your business 972 00:46:04,632 --> 00:46:07,520 life. So sometimes, for instance, I might 973 00:46:07,560 --> 00:46:10,040 give advice to people and 974 00:46:10,340 --> 00:46:12,972 ultimately it's up to them. I'll give them the 975 00:46:12,996 --> 00:46:15,564 information, I'll give them the advice, but they're sometimes 976 00:46:15,612 --> 00:46:18,396 not interested in that advice or 977 00:46:18,468 --> 00:46:20,892 maybe they're just not there yet. 978 00:46:21,076 --> 00:46:23,580 And so it's important, once I've given them 979 00:46:23,620 --> 00:46:26,540 information to let them, let them make 980 00:46:26,580 --> 00:46:29,532 their decision. I obviously have a 981 00:46:29,556 --> 00:46:32,060 responsibility to tell them why 982 00:46:32,180 --> 00:46:34,732 I'm giving them that advice and to 983 00:46:34,756 --> 00:46:37,580 encourage them if I think it's really important. But then 984 00:46:37,620 --> 00:46:40,592 I need to let them and find a way to deal 985 00:46:40,676 --> 00:46:43,672 with it so I'm not upset or feeling bad 986 00:46:43,776 --> 00:46:46,488 afterwards. And in my 987 00:46:46,544 --> 00:46:49,384 situation, a lot of times it just takes time 988 00:46:49,472 --> 00:46:52,216 because some of my ideas might seem great 989 00:46:52,288 --> 00:46:55,144 for me, but I'm used to them 990 00:46:55,232 --> 00:46:58,072 and for other people, they're new. So I 991 00:46:58,096 --> 00:47:00,952 think that goes for everything in our lives. I'm sure, 992 00:47:01,056 --> 00:47:04,008 Anthony, you have people in your life and sometimes they do things 993 00:47:04,064 --> 00:47:06,824 that you might feel uncomfortable 994 00:47:06,872 --> 00:47:07,272 with. 995 00:47:07,376 --> 00:47:08,060 >> Anthony Weaver: Yes. 996 00:47:08,950 --> 00:47:11,742 >> Alissa Maizes: So. Right. So how do we deal with 997 00:47:11,766 --> 00:47:14,718 that so we can ultimately be happier and 998 00:47:14,774 --> 00:47:17,050 have better relationships with those people? 999 00:47:17,750 --> 00:47:18,530 >> Anthony Weaver: Nice. 1000 00:47:19,510 --> 00:47:22,062 Number four. If you're giving 1001 00:47:22,126 --> 00:47:24,718 completely guilt free fun money 1002 00:47:24,774 --> 00:47:27,278 budget for a month, what would you 1003 00:47:27,334 --> 00:47:28,570 splurge it on? 1004 00:47:30,790 --> 00:47:31,982 >> Alissa Maizes: How much money? 1005 00:47:32,166 --> 00:47:35,102 >> Anthony Weaver: Oh, just fun money. It's just as much fun. 1006 00:47:35,206 --> 00:47:38,012 >> Alissa Maizes: I'm like, I got so excited. I'm like, it's. Is 1007 00:47:38,036 --> 00:47:40,796 it like, can I enter this raffle? I'm 1008 00:47:40,828 --> 00:47:43,772 just want to know, like, should I start making plans in 1009 00:47:43,796 --> 00:47:46,240 case I win? How do you get extra entries? 1010 00:47:46,660 --> 00:47:49,308 I'm sorry, extra fun 1011 00:47:49,364 --> 00:47:52,108 money. Gosh. I 1012 00:47:52,164 --> 00:47:55,036 think I try and find some things that 1013 00:47:55,108 --> 00:47:58,012 I've never done before or maybe that I haven't done 1014 00:47:58,036 --> 00:48:00,684 in a long time. I like experiences 1015 00:48:00,812 --> 00:48:03,800 and sometimes I don't do as many as I should. 1016 00:48:04,110 --> 00:48:07,110 I'm not, obviously I travel, see my family, but 1017 00:48:07,150 --> 00:48:10,118 maybe do some things more locally. Get tickets for some 1018 00:48:10,174 --> 00:48:12,510 concerts or comedy shows, um, 1019 00:48:13,470 --> 00:48:16,230 some smaller venue, live music, 1020 00:48:16,350 --> 00:48:19,174 I don't know. I have to go now. I have plans to plan. 1021 00:48:19,262 --> 00:48:22,246 I'm just thinking, I better find that fun money. 1022 00:48:22,318 --> 00:48:24,370 That sounds like a lot of fun already. 1023 00:48:25,870 --> 00:48:28,422 >> Anthony Weaver: You can tell you like the geek out in spreadsheets, like, where's the 1024 00:48:28,446 --> 00:48:29,010 money? 1025 00:48:31,640 --> 00:48:34,544 >> Alissa Maizes: I'll message you later and let you know what I planned. I'm going to 1026 00:48:34,552 --> 00:48:36,620 look up the things I'm going to do. Now. 1027 00:48:36,920 --> 00:48:37,936 >> Anthony Weaver: Awesome. 1028 00:48:38,128 --> 00:48:41,120 All right, so the very last question of the show, which is, where 1029 00:48:41,160 --> 00:48:43,340 could people find out more about you? 1030 00:48:44,680 --> 00:48:47,312 >> Alissa Maizes: So definitely give me a 1031 00:48:47,336 --> 00:48:49,600 follow on Instagram. 1032 00:48:49,760 --> 00:48:52,736 That's where I am probably the most 1033 00:48:52,888 --> 00:48:55,488 at Amplify, uh, My Wealth. I am 1034 00:48:55,544 --> 00:48:58,512 also on LinkedIn, so that's a great place to 1035 00:48:58,536 --> 00:49:01,184 connect with me as well. Alyssa Krasner 1036 00:49:01,232 --> 00:49:04,016 Mazes or Amplify My Wealth. Although I don't 1037 00:49:04,048 --> 00:49:06,656 really post on my business page, but 1038 00:49:06,808 --> 00:49:09,664 so probably my personal. Just 1039 00:49:09,752 --> 00:49:12,336 send me a message and we could connect 1040 00:49:12,448 --> 00:49:15,376 either place. Um, if you see anything 1041 00:49:15,408 --> 00:49:18,192 that I've shared and you have a question, I 1042 00:49:18,216 --> 00:49:21,168 love. One of the things I love most, Anthony, and I'm 1043 00:49:21,184 --> 00:49:23,696 sure there are people who follow you 1044 00:49:23,768 --> 00:49:26,656 that give you this feedback, or if they don't, they're 1045 00:49:26,688 --> 00:49:28,860 thinking it anyway, I'm sure 1046 00:49:29,160 --> 00:49:32,108 is there's nothing like when I get message 1047 00:49:32,204 --> 00:49:34,988 in my Instagram, which is usually where I get it, 1048 00:49:35,044 --> 00:49:37,788 where someone shares with me that they 1049 00:49:37,844 --> 00:49:40,588 have increased their wealth because they 1050 00:49:40,644 --> 00:49:43,532 followed some of the posts that I put there, and 1051 00:49:43,556 --> 00:49:46,508 I'm just like, oh, my gosh. So I'm not even working 1052 00:49:46,564 --> 00:49:49,372 with them as a client, and 1053 00:49:49,396 --> 00:49:52,380 I'm still helping them. And that 1054 00:49:52,420 --> 00:49:55,276 just brings me so much joy. I also have a website 1055 00:49:55,428 --> 00:49:58,282 where I do have information there, but. But I 1056 00:49:58,306 --> 00:50:01,300 would say Instagram. I'm always, um, 1057 00:50:01,300 --> 00:50:03,210 posting more, but my website is 1058 00:50:03,250 --> 00:50:06,122 amplifymywealth.com. but do 1059 00:50:06,146 --> 00:50:09,114 you. Do you get that, Anthony? If not, I am sure there are 1060 00:50:09,122 --> 00:50:11,802 tons of people who you are 1061 00:50:11,826 --> 00:50:14,746 helping increase their wealth, and they're just too shy 1062 00:50:14,778 --> 00:50:15,830 to let you know. 1063 00:50:16,290 --> 00:50:18,950 >> Anthony Weaver: Yes, I do receive messages, um, 1064 00:50:19,466 --> 00:50:22,458 from time to time. And I was like, first off, 1065 00:50:22,514 --> 00:50:25,272 I didn't even know you listened to the show, so 1066 00:50:25,456 --> 00:50:28,440 let's start there. Um, and that's one of the things 1067 00:50:28,480 --> 00:50:31,320 that kind of get me excited, is to actually 1068 00:50:31,440 --> 00:50:33,864 hear from the people who 1069 00:50:34,032 --> 00:50:36,872 don't typically post or they typically 1070 00:50:36,936 --> 00:50:39,640 don't go on my live shows and say, like, hey, what 1071 00:50:39,680 --> 00:50:42,200 about, uh, added value it is. Or 1072 00:50:42,240 --> 00:50:45,224 even say, uh, anything. But they will tell me in person or give 1073 00:50:45,232 --> 00:50:47,768 me a call or text, and those are usually the surprising 1074 00:50:47,864 --> 00:50:50,632 ones. And I'm always excited for the people who are 1075 00:50:50,656 --> 00:50:53,614 always there, who always found value 1076 00:50:53,782 --> 00:50:56,590 in something that is being said, whether 1077 00:50:56,630 --> 00:50:59,390 it's an interview or me just ranting on 1078 00:50:59,430 --> 00:51:02,390 about some of the things I dislike about, uh, 1079 00:51:02,390 --> 00:51:05,086 different news articles or something like that. It's 1080 00:51:05,118 --> 00:51:07,130 just really interesting to see. 1081 00:51:07,830 --> 00:51:10,670 >> Alissa Maizes: Right? It's the best. I mean, I love my clients, 1082 00:51:10,750 --> 00:51:13,710 too, and I love when they tell. I mean, anyone who I can 1083 00:51:13,750 --> 00:51:16,622 help I'm happy with. But 1084 00:51:16,806 --> 00:51:19,770 I, too, am super surprised when I get a dm, 1085 00:51:19,770 --> 00:51:22,522 um, from someone I've never gotten am. And 1086 00:51:22,546 --> 00:51:25,466 there. And then some of them. A lot of the people 1087 00:51:25,538 --> 00:51:28,058 who I usually hear from are very 1088 00:51:28,194 --> 00:51:30,954 young, and they 1089 00:51:31,122 --> 00:51:33,530 then are so sweet and whatever the 1090 00:51:33,570 --> 00:51:36,426 expertise is, they've offered to help me, 1091 00:51:36,498 --> 00:51:39,130 even though they're like, I don't know if you need this help. Because they 1092 00:51:39,170 --> 00:51:41,962 want to do something because they're that grateful. 1093 00:51:42,026 --> 00:51:43,830 It just. It's the best. 1094 00:51:44,370 --> 00:51:47,258 >> Anthony Weaver: Nice. Yeah. Um. It's. I gotta 1095 00:51:47,274 --> 00:51:50,084 say, it's like the feeling of. Of like I'm 1096 00:51:50,132 --> 00:51:52,916 actually getting what I really want 1097 00:51:52,988 --> 00:51:55,924 to perceive out in the world. And it's almost like a 1098 00:51:55,932 --> 00:51:58,740 reflection of mirror. Like, hey, you're actually doing good 1099 00:51:58,780 --> 00:52:00,080 stuff. Just continue. 1100 00:52:00,940 --> 00:52:03,700 >> Alissa Maizes: Exactly. It's what keeps us going is that 1101 00:52:03,740 --> 00:52:06,692 people, like you said, we don't even realize that we're helping them. 1102 00:52:06,716 --> 00:52:09,636 And then we find out it's. It gives 1103 00:52:09,668 --> 00:52:12,468 you a sense of, like you said, accomplishment and 1104 00:52:12,524 --> 00:52:15,348 purpose. It's not just about money, because 1105 00:52:15,404 --> 00:52:18,152 our happiness. Happiness has all different ways. 1106 00:52:18,216 --> 00:52:21,080 That's why I think it's also important to 1107 00:52:21,120 --> 00:52:23,720 know there are things that you could do for yourself 1108 00:52:23,880 --> 00:52:26,792 that don't have to cost you money and could still make you 1109 00:52:26,816 --> 00:52:27,620 feel great. 1110 00:52:28,160 --> 00:52:30,952 >> Anthony Weaver: Yeah. Oh, um. Man. So, I 1111 00:52:30,976 --> 00:52:33,960 mean, Alyssa, it's been amazing time having 1112 00:52:34,000 --> 00:52:36,856 you on to the show. Um, but sadly, 1113 00:52:36,888 --> 00:52:39,752 we gotta come to an end. But I would love to have you back 1114 00:52:39,776 --> 00:52:42,520 on if anything new or 1115 00:52:42,560 --> 00:52:45,132 exciting that comes, thumbs up. You're more than welcome to come back 1116 00:52:45,156 --> 00:52:45,720 through. 1117 00:52:46,100 --> 00:52:47,756 >> Alissa Maizes: Thank you. I can't wait. 1118 00:52:47,868 --> 00:52:48,444 >> Anthony Weaver: All righty. 1119 00:52:48,492 --> 00:52:49,240 >> Alissa Maizes: For everything. 1120 00:52:49,540 --> 00:52:52,284 >> Anthony Weaver: You're welcome. And everybody, please make sure 1121 00:52:52,372 --> 00:52:55,292 that you, uh, have. Remember that you 1122 00:52:55,316 --> 00:52:58,220 have what it takes to be anything that you 1123 00:52:58,260 --> 00:53:01,244 want to be with the. Obviously, 1124 00:53:01,292 --> 00:53:04,080 if you capable to do it physically, 1125 00:53:04,390 --> 00:53:07,308 uh, and mentally and so forth, just remember, you just got to take 1126 00:53:07,364 --> 00:53:10,102 time to dwell in it. Take time for yourself and 1127 00:53:10,156 --> 00:53:13,070 investing yourselves not just financially, but also 1128 00:53:13,370 --> 00:53:16,162 with time. And I wish you all the best. 1129 00:53:16,346 --> 00:53:18,450 Y'all be safe. We out. Peace.