Ep 157: Spreading F.I.R.E. and Financial Joy | A conversation with Ken and Mary Okoroafor

In this conversation, Yvette Sadler Butler, CEO and founder of Hive Wealth, discusses her journey in the financial services industry and how it influenced the creation of Hive Wealth. In it, she shares her vision of making finance more inclusive and accessible to everyone through financial planning powered by AI.The conversation explores the rise of Black investors in the stock market, the importance of financial planning, the need for budgeting tools and how AI (artificial intelligence) is incorporated into the Hive Wealth experience. It concludes with Yvette sharing some of the early reactions to the Hive Wealth experience,  how Hive Wealth improves financial decision-making, investment strategies, and  long-term planning. To learn more about Hive Wealth, visit https://www.hivewealth.com/.To follow Hive Wealth on social media: click the links below:Instagram: http://instagram.com/hivewealthFacebook: https://www.facebook.com/hivewealthYouTube: https://www.youtube.com/@hivewealthTo learn more about the show, visit https://richandregular.com/listen/ About Yvette Butler:After 30 years at the intersection of digital and wealth management, Yvette launched Impart Media to close the racial, gender and generational wealth gap. She believes that we should all have an equal opportunity to create an enduring legacy. Yvette is the former President of SVB Private, the modern private bank for innovators. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

If you want to know the secret to stress-free cooking at home this episode is for you! This week, we're exploring the world of kitchen technology that can help you save money, eat healthier, and make cooking at home easier and more enjoyable. We'll discuss our personal experiences with various gadgets, highlighting the benefits for both novice and experienced cooks. Key Takeaways:Cooking at home is a major opportunity for savings, but it's important to remove pain points and inefficiencies.Technology can bridge the gap between wanting to cook more and feeling overwhelmed by the process.There are options for everyone, whether you're a busy professional, a parent, or simply looking to expand your culinary skills.Featured Kitchen Tech:Anyday: This microwave cookware allows you to cook anything from scratch, using raw ingredients, directly in the microwave. It's perfect for busy individuals and families who want to eat healthy without spending hours in the kitchen.Inkbird Wireless Thermometer: This thermometer measures both the internal temperature of your food and the ambient temperature of your oven or grill, taking the guesswork out of cooking and ensuring perfectly cooked meals every time.Sous Vide: This immersion circulator cooks food gently and evenly in a water bath, resulting in incredibly tender and flavorful dishes. It's ideal for meal prepping, reheating leftovers, and experimenting with new cuts of meat.Electric Lunchbox: This portable device allows you to enjoy a hot, home-cooked meal wherever you are. It's perfect for blue-collar workers, busy professionals, and anyone who spends extended periods of time away from home.Air Fryer: This countertop appliance is essentially a mini convection oven, perfect for quickly cooking or reheating a variety of foods. It's a healthier alternative to deep frying and a great option for families with kids.Additional Resources:Investing Masterclass: Making Money Grow: Use code APRIL25 for 25% off during Financial Literacy Month!rich & REGULAR Amazon Storefront: Find curated lists of our favorite kitchen gadgets and other recommended products.Please remember to leave a 5-star rating and review to help others discover the show, and share this episode with anyone who wants to make cooking at home easier and more enjoyable. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

Ken and Mary Okoroafor based out of the UK and founders of The HumblePenny.com discuss their life and new book Financial Joy. In this conversation, they share their journey of starting their blog and the importance of representation in the personal finance space. They discuss the advantages of raising their children to be investors and the importance of being aligned as a couple. They also emphasize the value of using everyday situations as teachable moments for their children. Ken shares his personal experience of leaving his high-paying job as a CFO to become a content creator and the challenges and rewards that came with it. They also discuss the unique challenges faced by black people in the UK in terms of wealth gaps and systemic racism.  They highlight the lip service and broken promises of organizations that claim to support black communities as well as their POV on the similarities and differences for Black people in the UK vs. the United States.Lastly, they share a few nuggets from their book: Financial Joy emphasizing the importance of faith as a currency in finances and the need for dreamers to have a clear purpose, objectives, strategy, and tactics [P.O.S.T] to achieve their goals. Get Ken and Mary's book, Financial Joy: Banish Debt, Grow Your Money and Unlock Financial Freedom in 10 weeks Follow Ken and Mary on YouTube, Instagram, or their website Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

This week we’re joined by author and personal finance expert Lynnette Khalfani-Cox to discuss the importance of financial resilience and the strategies for bouncing back from setbacks. Lynnette dives into the core concepts from her book "Bounce Back: “The Ultimate Guide to Financial Resilience and explores the emotional side of financial challenges. In this refreshingly candid interview, Khalfani-Cox gets real about the psychological toll of money woes and those dreaded "Ds" that can decimate your finances: Debt, Downsizing, Divorce, etc. This isn't just about spreadsheets and hacks. It's a master class in self-compassion as a survival strategy.Lynnette also provides insights into her writing process, dealing with pressure/deadlines, and setting realistic expectations when she working on the book and workbook. Whether you're struggling with debt, recovering from a job loss, or simply want to become more financially resilient, this episode is packed with wisdom and real-world advice for bouncing back stronger than before.Get Lynnette’s new book Bounce Back: The Ultimate Guide to Financial Freedom Connect with Lynnette on her website, Instagram, Twitter, or LinkedIn Key Takeaways:The Power of Personal Stories: Lynnette shares moving personal accounts that illustrate the resilience needed to overcome financial hardship and life's inevitable curveballs.Mental Health Comes First: Before tackling practical money issues, Lynnette emphasizes taking care of your mental and emotional well-being through self-compassion.Overcoming Shame: Breaking down the barriers to asking for help and support from one's community when facing difficulties.Practical Tips: The "zero debt mindset" philosophy and the "switch and save" strategy for paying down debt more effectively.The Long Game: Understanding that financial decisions have long-term impacts and that building true resilience is an ongoing process. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

To get your copy of the FREE Financial Technology Toolkit, click here and we'll send your guide directly to your email address.    To learn more, visit the rich & REGULAR blog hereTech literacy isn't a one-and-done skill. It requires continuous learning and adaptation as innovation marches on. And there are very few areas that are being transformed by technology as rapidly as personal finance and fintech.To help bridge this literacy gap, we're introducing a free Fintech Toolkit aimed at empowering you to:Track and save money more effectivelyAutomate and optimize your investingProtect yourself from the growing threat of financial fraudIn this episode, we dive into the startling lack of awareness around financial fraud. The statistics are staggering, but the invisibility of these crimes causes us to drastically underestimate the risks. Scaring people straight rarely works - we have to make protecting assets feel like a smart, rational choice.And that's where fintech comes in. Our conversation explores the lack of awareness and discussion around financial fraud, highlighting the need for more attention and education on the topic. We also address the fear of embracing fintech and provide strategies for overcoming it. At the end of the day, crime and fraud follow the path of least resistance. The financial crimes of the future will continue targeting the people and businesses still using outdated, insecure practices and staying safe requires embracing new technological tools. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

In this episode, we’re discussing how to manage a windfall, whether it's a sudden influx of money from investments, bonuses, or unexpected events. We share our personal experiences with windfalls and the importance of splurging and treating yourself to experiences. We emphasize the need to resist the urge to act quickly and instead create a wish list and categorize priorities. We also discuss the importance of waiting and considering tax implications, as well as managing expectations and right-sizing giving. This episode also explores the cognitive benefits and financial muscle developed through lump sums and highlights the power of compounding interest and its role in accelerating financial plans. We also discuss how to handle large salary bumps or side hustle success and the need for preparation and planning, whether you should seek professional help for financial advice, along with customizing financial decisions based on individual circumstancesLinks: Haley and Justin's story (@PriceofAvocadoToast)Our favorite estate planning resource Takeaways:Splurging and treating oneself to experiences can be a valuable part of managing a windfall.Resist the urge to act quickly and take time to create a wish list and categorize priorities.  Consider the tax implications of a windfall and plan accordingly.Communicate and manage expectations with others who may have expectations of your windfall.Right-size your giving and allow yourself to experience the windfall before making promises.Careful planning is necessary when handling windfall money to ensure it is used effectively and does not cause unintended consequences Lump sums can provide cognitive benefits and develop financial muscle, allowing for long-term thinking and intentional decision-making.Understanding the power of compounding interest can help accelerate financial plans and shorten the time needed to achieve financial goals.Making progress on financial goals is fulfilling and can provide a sense of freedom and security. When experiencing a large salary bump or side hustle success, it is important to have a plan for the extra income and consider seeking professional advice.Customizing financial decisions based on individual circumstances and having a clear purpose for income are key to making informed choices. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

In this episode,  we respond to an email from a woman who wanted to know when to give up on a trucking business she started with her husband. The conversation covers topics such as faith, confidence, financial planning and finding the right partners, and we provide advice on calculating the cushion needed to support the business, as well as the importance of psychological resilience in entrepreneurship. This episode explores the differences in the role credit cards play in personal and business finances, highlighting the potential risks and challenges of relying on credit cards for business funding. It emphasizes the importance of financial planning, business support systems and having a larger cushion in retirement savings. The conversation also explores finding alternative sources of income, such as side gigs that align with skills and goals. Building relationships, networking, and normalizing backup plans are discussed as essential strategies for entrepreneurial success. The episode concludes with a focus on navigating financial stress and how gender norms affect the relationship dynamic.Links: Ep 135: Hitting the Highway to Success: Could Trucking be your Profitable VentureCashing Out  Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

Happy Women's History Month 2024! What does it mean to be a perfectionist? Is it a blessing or a curse? How does it affect your relationship with money, yourself, and others? In this special solo episode, Kiersten chats with Katherine Morgan Schafler, a psychotherapist and coach who helps people overcome perfectionism and live authentically. They talk about the different kinds of perfectionism, how social and historical forces shape them, and how they can be harnessed for good or bad. They also dig into the role of money in self-actualization, the link between self-worth and spending, and how to set financial goals that align with your values. Finally, they share some tips on how to break free from the cycle of self-punishment and embrace your flaws and strengths. In this episode, Katherine Morgan Schafler shares her insights on punishment vs. discipline, defining ‘enough,’ and balancing values and legacy.Links: Buy Katherine's book The Perfectionist's Guide to Losing Control: A Path to Peace and Power Follow Katherine on Instagram or visit her website Here are some key takeaways from this conversation:Perfectionism is not a monolithic trait. It can be adaptive or maladaptive, depending on how it affects your well-being and performance Money can be a tool for empowerment, but it can also be a source of anxiety and insecurity. It’s important to understand how your self-worth influences your spending habits and financial decisions Setting good financial goals requires knowing what you value and what you appreciate. It also requires being honest with yourself about what you need and what you want.Self-worth is not the same as self-esteem. Self-worth is about what you believe you deserve, while self-esteem is about what you think about yourself. Both are influenced by your social and cultural context.Breaking the cycle of self-punishment involves meeting yourself with compassion and understanding. Punishment only teaches us to avoid the source of punishment, while discipline seeks to extinguish negative behaviors through the promotion of positive behaviors.To define ‘enough,’ start by identifying what is not enough for you and then determine what is enough on a survival level and what makes you feel good. Then, compare your current situation with your ideal situation and see what gaps you need to fill.Balancing values and legacy involves understanding what you value, how those values show up in your daily life, and what you do not value. It also involves thinking about how you want to be remembered and what impact you want to have on the world. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

In this episode, we’re talking about how we parent our son Beau and teach him about money. We share our philosophy of raising a rich kid, not by giving him everything he wants, but by teaching him the value of saving and investing from a young age. We also talk about the pressure we feel as parents to provide more for our child, and how we use self-imposed constraints to teach him responsibility. We explain how we use video games and sports as metaphors to help Beau understand the concepts of earning and investing. We also discuss the importance of providing a financial cushion for our child's future, so he can have more choices and opportunities in life. At the end of the episode, we interview Beau himself, who shares his thoughts on saving money.Beau is six years old and tells us how he learned about saving money from us and from his own experiences. He shares how he explains the concept of saving money to his friends and his teachers. He tells us his savings goals and his dreams of becoming a millionaire. He also reveals his plans to make money as a baseball player.  Beau believes that having a house, food, and family are the most important things for a "perfect" life.We emphasize the importance of not overcomplicating the process of teaching kids about money and making it a normal part of our daily lives. We stress that investing for kids is not something elitist or exclusive, but something fundamental and necessary. Links: Learn more about OneUnited bank Episode 75: Financially Preparing for a ChildEpisode 69: Investing for your kids TakeawaysTeaching kids about saving and investing from a young age is one of the best gifts we can give them as parents.We don't have to give kids everything they want, but we have to teach them the financial implications and consequences of their choices.Using metaphors and real-life examples can make the concepts of saving and investing more relatable and understandable for kids.A financial cushion can give kids more freedom and flexibility in the future, but it also comes with responsibility and accountability.We have to have open and honest conversations with kids about money and involve them in our financial decisions.Saving money is a habit that can be developed from a young age, and it can have a positive impact on kids' future.Putting money in the bank is not enough, we have to teach our kids how to invest and grow their money. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

In this episode, we talk about the concept of overconfidence in investing, also known as the confidence trap. We explain why confidence is important and how it can either help or hinder us in achieving our goals. We also examine the role of ego in investing and how it affects our self-image as investors and use culinary references and personal stories to make our points. We stress the difference between investing and gambling, and the need to understand and manage risk. The episode ends with some tips for making better investment decisions and seeking advice from experienced investors.TakeawaysConfidence can be a double-edged sword in investing.Ego influences how we see ourselves as investors.The relationship between work and investing can affect our risk appetite.Investing should be done with a mindset of doing less and avoiding overdoing it.Investing and gambling are not the same thing.Calculating risks and considering beta and R-squared can help us make better investment decisions.Investing should be seen as a slow and steady process, not a fun or exciting one.Seeking advice from experienced investors and learning from personal stories can give us valuable insights. Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow