Discover Wall Street secrets from Your Rich BFF Vivian Tu, sharing insights on investing, taxes, and money mindset. Hear about her frugal upbringing, weird experiences on Wall Street, and lessons learned. Get ready to change your money mindset with tips from her book and live event!
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Quick takeaways
Personal finance education is crucial for making informed money decisions.
Questioning career norms and learning from diverse successful individuals is valuable.
Confidence and self-advocacy are keys to negotiating better deals and asserting value in business interactions.
Deep dives
The importance of having a rich BFF for financial guidance
Having a rich BFF can provide valuable insights into personal finance, especially when traditional education lacks financial literacy. Understanding trade-offs in decision-making is key to managing limited resources effectively.
Learning personal finance early on
Many people do not learn personal finance in school, leading to gaps in knowledge about concepts like APRs, index funds, and IRAs. The podcast emphasizes the significance of financial education and making informed choices with your money.
Career inflection points and financial literacy
Observing experiences of others, such as a Wall Street salesperson's unconventional success, can challenge traditional career norms. This highlights the importance of questioning common wisdom and learning from successful individuals in different fields.
Importance of Reframing Entitlement and Confidence
Reframe the notion of entitlement as a way to overcome imposter syndrome and confidently acknowledge the value you bring to the table. Use this attitude to negotiate better deals and advocate for yourself in various situations, recognizing your worth and the leverage you possess in business interactions.
Critical Factors in Choosing a Side Hustle
When selecting a side hustle, prioritize considerations such as your schedule, existing skills, and long-term interest in the venture. Ensure that the side hustle aligns with your availability, capabilities, and future goals to avoid investing time and money in a venture that does not suit your needs or preferences.
#493: Do you ever wonder what happens behind closed doors on Wall Street?
Vivian Tu, also known as Your Rich BFF, is here to spill the tea.
Vivian grew up in a modest immigrant family. After college, she found herself working insane hours on Wall Street after college.
While working on Wall Street, Vivian saw some weird things.
Once, a coworker stumbled hungover into the office after a trip to Atlantic City, carrying a duffel bag with thousands of dollars in cash inside.
Vivian realized that there's a group of high-income and high-net-worth people who handle money in drastically different ways than she learned in her frugal upbringing.
She learned about investing, taxes, legal loopholes. She discovered new ways of thinking about money.
She shares these insights -- gleaned from her Wall Street days -- in today's podcast episode.