As an educator, I cannot teach children academics and life skills in 7hrs a day 180 days a year. I work in a middle school and I am FLABBERGASTED by how many pre teens don't know how to literally tie their shoes. They have to have their friends do it for them. I see it all the time or they walk around with shoes untied. I have clear memories of my dad teaching me at age 5. At some point the parents need to teach their kids life skills. I can't stop legally required circular requirements to teach life 101 skills the parents won't teach them. I am a teacher....but so are non certified parents. It takes a village, including parents. I believe in teaching finance 101. I just signed a street petition to get it on the ballot.
More interviews from single people who have achieved financial freedom, please! Interviews with couples doesn't help the thousands of us single (not by choice) people much at all and we're overlooked in so many areas. Let's not have financial freedom be one of them!
6:10 Yes she "was "exposed" to this great wealth..." But it is worthy of notice that many people are equally or even more exposed to that and MOST don't take it to heart or approach it like she did... she wanted to learn and she seems to have seemed the advice of that woman "mentor"... it is like most things in life, most people are exposed to reading and math, but most never take to it, at all. Same with being among wealthy people, most people just feel inferior and never imagine THEY can become wealthy like this people, it does take a unique view or individual to see it like she did. Some few people can work at a business, and immediately imagine themselves owning the business, they look at the people in charge or managers and think IF they can do it why not me!!
The suggestion is to ask for a double digit raise yearly or move on. What if you are older and facing age discrimination. People don't want to hire people long in the tooth. Also, if the employee switches jobs every few years, it looks spotty. How do I handle that in an interview?? Give me a yearly raise or I will be gone from here after two years as well.
Thank you, Vivian. I'm 46, and I still can't understand the language of the OG money world. It's about time we have a young person like you to speak to the audience that speaks REAL world languages!!!
I agree with much of what she says. We so desperately need financial education in the K-12 curriculum. But...she's out of touch what a family can do on 1 working class salary. You can have kids, a house (even paid for), and the white picket fence. I did it as a millennial! My wife has never worked. We avoid spending money we don't have, to buy things we don't need, to impress people who don't care. We are coast FIRE at this point. It can be done.
I’ll add a little thing in what she said about rich people don’t care to expose themselves, buying luxury things. I’d say this kind of people is that ones that born rich, this is natural for them, because the new rich people, love to do that. I know a bunch of this type. Of course has new rich people like her, changed her value, but is not much people like that. I never saw, she is the first.
Totally agree with the financial literacy aspect and other points in the conversation concerning that. I wish people would stop using the personal names of others in a derogatory fashion. It causes people with that name to feel humiliated and dilutes the message. What a shame that people feel trendy to do that to others.
Employers don't care if you leave if it's easy to replace you. Besides, what would you tell your new employer in interview? That you left coz you didn't get a raise? How much would the new employer value your skills? Would you be more appreciated than the previous one? If you want a raise, you need to upskill. If not, you'd be a punching bag for the rest of your life. Employers will give raise to those who make a difference to the company's bottom line. Your manager wants to brag to hos superiors that he was able to accomplish far within the budget. A good start would be to learn which skills are valued and appreciated? It's easier to replace a transcriptionist or data entry clerk than an accountant or data analyst.
While I agree with you on growing your skills (that's a given at ANY job, I avoid jobs that do not provide opportunities for self-development and growth), in today's job market, lateral moves are a much faster way to grow your income. I'm speaking from experience, having wasted 5 years at my first job learning, taking on more responsibilities, doing "all the right things", always to be met with an excuse about why a promotion was just not possible at the time. Until I decided to leave, all of the sudden promotions were available. The competition literally 4x what they were offering me as a raise. I was likely underpaid to begin with, but the point still stands, remaining at the same company for too long stunts your growth these days. I've been jumping ship since then, and have seen my income increase at rates I could not imagine in a few years. I think the only exception to this would be in areas such as management or domain-specific work where intimate knowledge is required tô deliver work. But then those jobs are harder to hire for so you're already getting compensated top dollars or can easily negotiate raises, it costs less to keep you than to hire and train a new employee. Companies have no incentive to promote because the mindset is exactly what you said, you are expandable. And those who are not expandable constitute a small minority of the available roles. This is by design, as a business you want to make the roles generic where possible so you can quickly fill them, else you're paying top dollars. Also, "what would you tell your new employer": "I've outgrown my role at previous company and there was little room for mobility, the role you are offering seems like the logical step in my career growth and I see myself delivering impact and growing with this company for the next few years." They have no business knowing what my previous comp was, whether I thought it was enough or too little, etc. By federal law no less, so why would I be dumb enough to share that information?!?
I'm confused here. There's a older lady at the beginning. Then it looks like an interview with a attractive blonde interviewing an Asian chick. Whose channel is this?
love the content but back in the 90’s all my asian friends were wearing polo and had brand new cars their parents brought in highschool and my white friends had to work and some had to pay for their own groceries from 14 years old. Sucks that she has to bring up race. I get it but everyone has struggles. I was one of the lucky asian guys.
She is so right. The only class that really helped me in real life was consumer math, which actually teaches you how to budget and write a check, which you actually do in real life!
That’s not giving enough credit to education. Reading and actual reading comprehension, critical thinking, spelling, basic math, computer/typing, music class are all fundamental. Even basic science, understanding how ecosystems work together, evolution, all fundamental. Even just learning to enjoy the process of life long learning is all fundamental. As is money management. Science classes are important for those interested in going into sciences. It’s not all BS.
Great interview and as a 1st generation Haitian-American whose mom raised 4 kids as a single mom, I am so grateful for the opportunities I had to learn about personal finance and the energy of money because of all the sacrifices she made for us❤
Be Encouraged! What's for you is for you! I got into financial services & never, ever thought I'd be in this industry nor have an interest to educate others with it.❤❤❤❤❤
Who would've thought, right? Sometimes life takes us down unexpected paths, but it's all part of the adventure! Keep rocking the financial services world!
Haitian American here too. I was an only child my mom raised me alone. But she came here young and worked hard. I was never taught until I decided to learn about financial literacy
I don’t understand why so many people in America don’t like hear the HONEST TRUTH about the history of America. We can’t fix the problem if we PRETEND or refuse to acknowledge that they are there or it happened.
They don’t want to admit that once that were lighter had a jumpstart in this country. Most wealthy people are mostly white and they all look the same right down to the Botox injection. Whenever a non white wealthy person comes in, they’re gonna look at them and do one of these things, not bother then/ignored or try to find things on them. This is why non-white wealthy people also have to be careful who claimed to be friends with. Man, I’m trying to get them in trouble or worse situations.
@@marieb7251By giving an official apology and pay cash payment Reprirations to the Black Americans who built the former English colony into the wealthiest and most powerful country in the world🇺🇸 *Lets not get triggered Karen!
@@marieb7251we are living in a present shaped by the past. A past that still plays favorable for some and not others. You can’t understand where you’re going without understanding where you’ve been.
She Said fix the problem. As in the consequences of what was done in history. Which govt tried to do marginally but ppl get whiny AF about anything that feels like they're losing their privilege. Just go read up on the topic y'all know good and well everyone did not start off at the same starting point and effects are lasting smh@@marieb7251
This was a great interview. I love the fact that she's trying to cater to the underserved community, and overall has solid advice. Her point about the 401k being worse than a pension probably holds for the majority. It provided the illusion of choice while passing the burden on to the employee, with minimal education. 100% agree with her that financial literacy should be required learning for all children. I personally believe the system is intentionally set up this way because it furthers the goal of capitalism and consumerism. If everybody were to be savvy with their finances suddenly, there's a whole category of goods that would disappear overnight lol. Only thing I'd call out in this otherwise amazing interview: I'd do you research before signing up for So-Fi however. 1, Viviane was / is a paid promoter of this product so the recommendation is likely incentivised. 2. So-Fi is... Weird. It does not use the traditional checking / savings account, but instead has this super account they serves as both. This is NOT a good way to manage your money, you want to make savings not readily accessible so you're not tempted to use it. 3. (The biggest one of all) So-Fi will push a bunch of their other financial products onto you within their platform, and if you're not financially disciplined, you will quickly find yourself in the red with them. Other high yield savings alternatives exist that do not have the handicaps listed above. I wish there was a disclaimer somewhere in the vid, promoted products should always be identified as such because certain people might take the advice blindly given she's so relatable.
So many people here offended by her calling out racism. Just bc YOU haven’t been affected doesn’t mean it doesn’t exist. I’m a person OC and experience blatant and micro racist aggressions.
Thank you Vivian for saying thay for Black, Asian, Indigenous, Gay and other minorities in the US didnt have the same access. Its simply the truth and can easily be Googled. Its a shame that some people cant get out of their feelings and think you are playing the victim when pointing out history. Your audience who lives through extra challenges gets it. Keep up the good work. Im a follower and just purchased your book. ❤
@@Savannah-ed4rvThere’s also nothing wrong with telling the history of each group of people to understand why some of them had a 400 yrs headstart. This motivate other people who didn’t have that chance. So cut out the tears!
Love how she talks about educating ourselves about finances, but also how the system is not set up to educate low-income people and other financial marginalized people, including women, people of color, gay people, and others.
I find it ironic she talks about how there’s no mobility in social classes yet her parents are immigrants who I would assume came to America “for a better life.” She herself says grew up in upper middle class, goes to Univ. of Chicago, etc etc etc.
Well, the social class has different context in different government. Middle class in China is definitely not the same as middle class in America. She emphasized multiple times that social mobility was possible in the past versus today. Also, she said that she grew up in an area of upper middle class while her family was still poor. That is definitely possible depending on the area you are living by weighing school score, public transportation score and so on. I hope this explained :)
Mobility is virtually non-existent because the successful few who can break into the higher class are the exception, not the norm. If you are born to a poor family, you are more likely to remain poor yourself than achieve middle class, and if you're born middle class, you're likely to remain middle class. Just walk around the neighborhoods in the country and you will see it's the same generation of people who remain in the same areas for the most part. In fact, if the stats are to be believed, the middle class is shrinking at an alarming rate in the past few decades due to a slew of factors ranging from government policies to shrinking income, inflation, etc. So actually you're right, there IS mobility. Just not in the direction you're thinking 😂
Vivian did acknowledge that she had privileges compared to many other low-income ppl for being able to attend U of Chicago, and having parents who were financially able to support her studies throughout high school and college. And that she was able to use her network to get that good Buzzfood job (since she got a referral from her JP Morgan manager). However, she's talking about overall class mobility between our parents' generation vs our current generation.
It's easy to be "rich AF" when you make 700k/year at Buzzfeed as a 22yr old 😂 how tf does someone that age even bring that kind of value to a company? Completely out of touch with 99.999% of Americans who will never even reach $1mil.
Not good advice. Fact is you can save to wealth, rich people work just as hard as poor people. They just do a better job of managing what they earn. I have friends that earn double what I earn but live paycheck to paycheck due to poor spending/investing philosophy. I’ve averaged $40k per year my entire life with some major down years and have well over $1 million before 50. That isn’t rich to many but much more than I need to be financially independent. This girl is suggesting the system is rigged and that simply isn’t the case.
Thanks Viv, but I think Life is alot more than what we tell our kids. honesty is something we gain from. our future gets ruined when we aren't honest with ourselves and others. we hurt the most. and we gain the most by being honest. People that gain from their honesty know how it feels to fail to do that. We can only understand the depth of it when we do it the right way. and feel the lack thereof when we don't. These days I think the government is failing on that, they're full of propagandas.
Life is all about being honest, I am a millionaire today because I am honest to myself. After my retirement I had only $150k in my savings and I took a bold step and contacted Linda Sue Baier and told her what I have within for investment and she said that is enough to turn me into a millionaire.
A lot of these 'facts' are not actually supported by statistics. Most wealth is first generation wealth. Certain tradespeople like electricians, welders make great money. You can most definitely buy a house in many wonderful cities on that single income. And a tire swing. Many teachers actually do have a net worth of over 1 million. I agree that historically information was not passed out to people who are brown like me. But the USA is still a wonderful place to be from.
Why do brown people always think they are singled out? I'm white, and I certainly had no advantage, and I sure didn't get a free education bc of my color.
"Certain" and "many" are not stats. If you're going to make a rebuttal claim try to be as accurate as you can. Anecdote v anecdote is not gonna cut it. If you don't mind may you please (cutesy voice) provide some sources for that?
I know plenty of "brown" people who got the memo. I think to say it more accurately you should refer to people who are of lower economic status, be they brown, white, or any other color. I'm white and I didn't get the memo! Stop making it all about your color.
I hate how she brings up being a 'female minority' in all her videos. As if that makes using the investing apps harder 🙄🙄🙄. I wish people would stop focusing on race and identity politics in every aspect of life
There is a difference between quite luxury and being well Dressed as an Sartorial style old money style and myself I dress well Sartorial and keep building generations of wealth which becomes the old money wealth in itself
This was a very powerful interview. Thank you Vivien Tu for the wonderful advice and I agree with you as to what you have said in this interview. I am from Kuala Lumpur, Malaysia and I have been seeing this trend happening over the years and sorry to say, as much as we want to honour our parents, the whole GO TO SCHOOL, GOT TO COLLEGE / UNIVERSITY, GET GOOD GRADES, GET A SECURE JOB AND WORK FOR 40 T0 50 YEARS AND LATER RETIRE COMFORTABLY does not work anymore. I have been working from 2005 till 2022 until I lost my job. I wish I learned how to save and invest back in my 20s but just never had the mentor or encounter with anyone advising me as to how to be strict and diversifying my money to work harder for me instead of working hard for money. Looking to see what I can do to make my finances in 2024 to be better and to have financial abundance and looking forward to learn from you more Vivian . Thank you for all your advice on the subject of money and do continue those who are young, and in theirs 10s, 20s, 30s, 40s, 50s, 60s, 70s, 80s, 90s and more.
Fascinating perspective! Vivian Tu's insights on getting rich the 'lazy' way are thought-provoking. Thanks for challenging traditional notions and offering a fresh perspective on wealth-building.
Yaaaaaasss Vivian!!! Thanks for keeping it real, especially the difference between the history timelines based on race, gender, and sexual orientation. I'm glad we have people like Vivian and The BiggerPockets community who believe in educating all of us regardless of background and history.
I'm new in the Channel 🔥🔥🔥 I really loved the podcast... 👏🏽 Vivian, I really appreciate all the information you shared and wow... 🎯💯I learned a lot... 😮 and sadly but real, more than at school... 😅 Thanks everyone!!!❤️
A Corporation. See MAC Enterprise Consulting. I’m having to pay to convert my LLC which was so pushed the last few years. This system is one of the most organized and beneficial “end game” trifecta. 😊
I bought Vivian's book bc although I'm familiar investing I bought her bc she's a woman of color and I'm soooooo Proud of and Happy that she's very Smart and I love her book ❤❤
She’s out of touch on the get a raise every year or else I leave for another job! Lol. The market had turned. Employers are firing. They don’t have to pay you more bc it’s rough to find another job. Not sure why she doesn’t know that.
Love this interview. Every single person in America needs personal finance education because every single person will use it yet most states do not mandate financial courses are taught. I use to think it was just not viewed as important but now I believe it is intentional. Capitalism is based on a few people holding wealth and the masses being workers.
@@mayalmariomendoza134 there is no issue with being workers. I think what KLT is alluding to is that there is a disparate gap in the wealth distribution between the business owners and the working class. Part of this is due to lack of education, part of it is systemic because capitalism is primarily concerned with producing more wealth, but not the distribution of it. This is why it is so easy for our politicians to do away with things like pensions and unions, tools that were designed to protect the worker against the greed of the owners. The system works for me personally because I've learned the game and can play it to win, but I see the detrimental effect it has on a majority who work just as hard, if not harder than me, but did not have access to financial education. Hopefully that's changing with easier access to information such as this podcast. You couldn't readily find this 15 years ago for example, so short of going to the library and knowing what to look for or being part of the lucky few who were taught this in school or at work, you would have lost years not investing / managing your finances properly.
I have this account and want to get the credit limit increased. Currently $5K I have had it for some years and I keep getting denied increases because they say my limit is maxed? What does that mean. Someone said it has to do with my NF internal score but no one can really explain it
AMAZING 🤩 gotta go follow her now and buy her products as young Asian woman who grew up the way she described 🎉 thank you for putting out this interview 💕
Just catching up on episodes. Was really disappointed with this one. Vivian shared her condescending, racist and limited views. She could’ve offered some helpful advice to help so many that are struggling to make ends meet. It’s not just people of color. She should learn from the past and not just spew more divisive comments. Everyone born in the past 50 years in this country has the same opportunities to work and propel themselves further and not be reliant on table scraps. I grew up poor (and white) with a blue collar dad who’s still working at 73 to make ends meet. I struggled, worked part time through high school and college. Left with as much debt as my first year salary. All of these experiences make me PROUD of who I have become and I try to share these life lessons with my nieces and nephews. One thoughtful thing she said was ask for raises every year - she just left out the part: assuming you can look in the mirror and say “I work hard and I deserve it.”
This u tube is depressing. When we were young we wanted to be astronauts, firemen, doctors invetors like Edison or Van Braun and wanted to make the world better. Hopefully all the young people just do not want FU money. The one thing refreshing about it is that she is honest.
The problem is finances are a high stress point now and having financial security is a very good thing. Living costs are at an all time high so any way average people can find to help themselves is very much necessary. We younger people are facing horrible odds at this point. Bills are high. Groceries are killing people’s monthly income. Student loans are ridiculous. Rent is extremely high. Most of us can’t afford to buy a house even if we religiously saved for years because the cost of homes has skyrocketed so much that the downpayment lenders want up front for the median house cost is now more than the median national income. It’s not about thumbing it to the older generations, it’s about being able to make a decent living and giving our kids a good life.
