Is Homeownership Overrated? Smart Girl Dumb Questions with Nayeema Raza

Nicole is joined by journalist and podcast host Nayeema Raza, host of Smart Girl Dumb Questions, for a crossover episode! This is a shame-free conversation about the money questions we’re all holding in, starting with perhaps the most loaded one of all: should you buy a home? Nicole breaks down the 5% rule for renting vs. buying, why she personally chose not to buy, and how to strip the emotion out of a decision that's usually anything but. She also answers common questions about debt, HSAs, growing generational wealth and more. Plus, Nayeema and Nicole talk about which expenses are worth going into debt for, and what Mark Cuban told Nayeema about how money can make you feel poorer the wealthier you become. Listen to Nayeema's podcast Smart Girl, Dumb Questions Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Here's what Nicole covers with Nayeema:  00:00 Are You Ready for Some Money Rehab?  01:17 Nicole's Controversial Take on Homeownership  04:44 The 5% Rule: Rent vs. Buy Math  08:37 Why Nicole Chose to Rent (And Invest the Difference)  12:30 How the LA Fires Changed Nicole's Relationship to Home  17:00 Not All Debt Is Created Equal: Good Debt vs. Bad Debt  20:02 What Rich People Know About Leverage  24:03 How Nicole Got Into (and Out of) Credit Card Debt  25:51 Avalanche vs. Snowball: Which Debt Payoff Method Wins?  28:09 The Shame Cycle Keeping People Stuck in Debt  29:18 The Debt Game: What’s Worth It?  34:35 Investing in Your 20s: Nicole's Biggest Regret  36:27 Nicole's Daughter's Investment Portfolio  37:15 HSAs, 401(k)s, and Where to Put Your Money First  38:39 How Do You Know If You're Rich?  41:26 Mark Cuban on How Money Can Make You Feel Poorer  42:34 Nicole's "Dumb" Question  All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

The Federal Reserve hasn't been this dramatic in decades. Today, Nicole breaks down everything you need to know about the Fed and exactly what it means for your wallet. Nicole explains how the federal funds rate actually works, why it doesn't directly set your mortgage rate (but still absolutely affects it), and which accounts move immediately when the Fed acts. She unpacks the Fed's dual mandate, and shares her prediction for what Kevin Warsh will do. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Open a high yield savings account with SoFi at sofi.com/mnn Here's what Nicole covers today: 00:00 Are You Ready for Some Money Rehab? 00:15 Why the Fed Is Bringing the Drama Right Now 00:57 What the Federal Funds Rate Actually Is 01:33 How Banks Borrow From Each Other Overnight 02:01 How the Fed Rate Affects You (And What It Doesn't) 02:21 High Yield Savings Accounts and the Fed 02:39 The Fed's Dual Mandate: Inflation vs. Unemployment 03:36 Where Inflation Stands Right Now 04:04 Inside the FOMC: How Rate Decisions Are Made 04:19 Meet the New Fed Chair: Kevin Warsh 04:49 Hawks vs. Doves Explained 05:08 Trump vs. The Fed: The Political Pressure 05:14 Austan Goolsbee Takes Us Inside the Room 07:30 Internal Dissent at the Fed: Not Seen in 30 Years 07:57 What to Expect from Markets on June 17th 08:53 Nicole's Prediction: Will Warsh Cut or Hold? 09:29 Tip You Can Take Straight to the Bank: High Yield Savings All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Olivia Ferney (@travelwithlivii) is the luxury travel agent to the ultra-wealthy, booking private jets, superyachts, and six-figure vacations for some of the richest people on earth. Today, she pulls back the velvet rope on what it's actually like inside that world. If you’re trying to meet a billionaire client or investor, Liv tells you where they’re hanging out. Liv tells Nicole the most outrageous client requests she's received, why saying "I have no budget" is the biggest red flag a client can send, and what to say to get a hotel upgrade. She also gets real about how working with billionaires has warped her own relationship with money, and the softer lessons she's taken away about what money actually can and can't fix. Plus: the Instagram-famous destinations she'd never recommend, where billionaires are actually traveling right now, and the shoulder season hack anyone can use to save real money on their next trip. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Follow Travel with Livii learn more about Top Tier Travel Here's what Nicole covers with Olivia:  00:00 Are You Ready for Some Money Rehab?  02:15 Selling Her First Company at 21 and Moving to Miami  04:49 The Travel Agent Business Model  07:23 Flying Limes From Different Countries and Other Crazy Client Requests  09:36 What Clients Think About the Viral Videos  14:00 Are the Stereotypes About “New Money” True?  20:43 "Rich People F***ing Love a Refund"  22:44 Do Billionaires Have Budgets?  25:18 Overrated Destinations, Best Hotels, and Most Expensive Room Service  28:30 Where Billionaires Are Traveling Right Now  32:26 How to Get a Free Hotel Upgrade  39:16 How Working With Billionaires Changes Your Money Mindset  43:07 Rich and Depressed Is Still Depressed  45:30 Prenups, Working With Your Partner, and Wedding Plans  46:49 Liv’s Tip You Can Take Straight to the Bank

Chris Voss spent two decades at the FBI and became the Bureau’s lead kidnapping negotiator. Today he sits down with Nicole to teach you how to leverage the same psychological tactics to get the salary you want. Chris and Nicole break down exactly what to say to get a raise, how to walk into a new job offer and negotiate without burning bridges, and how to get people to want to pay you more. Chris reveals why finding “common ground” is actually a recipe for resentment, why throwing out a number first can kill a deal, and the three conflict types — fight, flight, and make friends — that explain how almost every deal goes sideways.  Then Nicole and Chris get into why remote work might be quietly tanking your career, an analysis of President Trump’s negotiation style and The Art of the Deal, plus the two lines of code planted in your head before age five that drive everything you do with money, work, and relationships. Finally, because Nicole had to ask, Chris explains what you should say if you’re ever in a hostage situation. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Check out Nicole’s Favorite Chris Voss Book “Never Split the Difference” Learn More About The Black Swan Method Here's what Nicole covers with Chris:  00:00 Are You Ready for Some Money Rehab?  01:00 Why Splitting the Difference Builds Resentment 03:19 The Myth of “Common Ground” 06:57 Stories From Being the Lead Hostage Negotiator For the FBI  07:51 How to Get Your Boss to Want to Pay You More  16:00 The Mistake of Getting Too Personal 18:51 What Should You Say If You’re a Hostage? 19:19 In A Raise Negotiation, Should You Bring Up a Competing Offer? 22:19 Is Body Language Really Important? 27:12 Does Chris Voss Get Nervous While Negotiating? 28:36 Negotiation Role Play and the Script For Getting a Raise 30:31 Should You Throw Out a Number First? 32:25 Don’t Ask “How Can I Help?” 42:15 Negotiating Non-Monetary Perks (Remote Work, Vacation Time, and More)43:06 Chris’ Take on Remote Work: It Makes You a C-Player  47:31 How to Use Empathy in a Negotiation  48:00 Why Being Playful Makes You 31% Smarter  50:20 The Three Conflict Types and Why Deals Die  59:00 Analyzing Donald Trump’s Negotiation Style 01:08:51 Debunking Negotiation Myths 01:16:00 Rating Deal-Making Cliches  01:18:13 How To Get Inside Someone’s Head 01:22:38 How Your Upbringing Influences Your Negotiation Skills 01:25:47 Chris Voss's Tip You Can Take Straight to the Bank

Allison Ellsworth built Poppi from a homemade prebiotic soda to a $2 billion brand acquired by Pepsi… but you already know that. Today, Allison talks about what happens afterward, and how to follow-up a successful first act. Allison opens up about the unexpected grief of letting go of a company that was her identity, and the pressure of building a new company after a successful exit. She also digs into advice for anyone who has a different money mindset than their spouse, and how to find common ground.  Plus, Allison shares how she’s talking to her three young kids about money and work— and why her kids waving her off with "Have fun, Mom" is her greatest parenting win. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Keep up with Allison on Instagram and TikTok Here's what Nicole covers with Allison:  00:00 Are You Ready for Some Money Rehab?  01:10 When the Wire Hit 03:20 What People Get Wrong About "Billionaire" Headlines  04:15 The $50K Investment That Went Bankrupt Overnight  05:50 What Skills Transfer From Running a Company to Managing Wealth (And What Don't) 07:30 Running Your Personal Finances Like a Business  09:00 The Grief Nobody Warns Founders About  11:05 Separating Your Identity From Your Company  13:00 Founder-Led Content and What's Coming Next in Brand Building  15:20 Building the Second Company Differently  17:40 Self-Funding vs. Taking on Investors  19:30 The Emotional Payoff of Returning Money to Early Investors  21:45 Making 44 People Millionaires  22:00 Lessons From Being a Shark on Shark Tank 23:30 Female Founders, Mom Guilt, and "Spreadsheets in the Bedsheets"  26:40 Opposite Money Mindsets in a Marriage  31:30 Why Allison Has No “Fear Gene” 33:30 Raising Kids With Money Values 36:55 How to Talk to Your Kids About Work Without Losing Them  39:00 Buying Back Time 41:00 Secure the Bag 45:25 Allison Ellsworth's Tip You Can Take Straight to the Bank

Glennda Baker has been a real estate broker for decades, built a massive social media following teaching everyday people how to buy and sell smart, and learned some of the biggest money lessons the hard way…  including a divorce where her ex looked her in the face and called her a "cash cow." Today, she joins Nicole to share what she knows about protecting your wealth, winning in today's housing market, and building real estate into generational wealth. Glennda gets raw about her own financial trauma: the manipulation she didn't see coming in her marriage, the moment she was evicted to a vacant rental with her son and hit rock bottom, and why she will never get married again. She explains exactly how divorce hits women differently than men, including a hidden math problem most people miss when splitting a house at today's interest rates. Then Nicole and Glennda get into the real estate playbook.  They fact-check the viral real estate advice flooding your feed, from writing letters to homeowners to get off-market deals, to using a HELOC for a down payment, to buying property through individual LLCs. Glennda also makes her case for why buying a house for your kid beats a 529, why private equity is keeping Bobby and Susie off the property ladder, and the one negotiation move every buyer should make at closing. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Follow Glennda on TikTok and Instagram Here's what Nicole covers with Glennda: 00:00 Are You Ready for Some Money Rehab? 01:21 Glennda's Origin Story 03:33 Should You Put Your Spouse's Name on Your House? 06:22 Prenups, Postnups, and Why Everyone Already Has One 07:03 Why Glennda Will Never Get Married Again 08:11 How Divorce Hits Women Differently 09:29 The Hidden Math Problem When Splitting a House 11:43 Glennda’s Money Trauma 17:09 Buying a House Together: What Needs to Be in Writing 20:19 Trusts vs. Putting the House in Your Kid's Name 24:30 Why Glennda Would Rather Buy a House Than Fund a 529 26:35 Real Estate vs. the Stock Market 28:09 Glennda and Nicole Play TikTok Trend or Truth? 38:13 The $47 Trillion Boomer Equity Problem 40:02 The Starter Home Myth 42:00 What Budget Do You Actually Need? 48:52 How Private Equity Is Locking Out Everyday Buyers 52:43 A Hard Look at Affordability 55:00 The 7 Ds of Real Estate 59:33 Closing Cost Strategy 01:03:03 Glennda Baker's Tip You Can Take Straight to the Bank All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Today, Nicole unpacks the exact accounts she opened for her daughter, the math that makes starting early almost unfair, and the money script she's determined to rewrite for the next generation. Whether you have a newborn, a teenager, or you're realizing you wish someone had done this for you, this episode is a blueprint. Nicole breaks down how a 529 plan is far more flexible than most parents realize, why a custodial brokerage account is less about returns and more about teaching kids that money grows quietly in the background, and why a retirement account for a one-year-old is not as insane as it sounds — it's one of the most powerful financial moves a parent can make.  Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Here's what Nicole covers today: 00:00 Are You Ready for Some Money Rehab? 01:13 529 Plans: More Flexible Than You Think 02:02 The Math on Starting Early vs. Waiting 02:51 Super Funding: The IRS Loophole Most Parents Miss 03:31 Lump Sum vs. Monthly: The Numbers That Will Shock You 04:00 How to Shop for the Best 529 Plan 04:17 Custodial Brokerage Accounts Explained 05:00 The Financial Aid Trade-Off 05:41 Why Nicole Really Opened This Account for Her Daughter 05:56 The Custodial Roth IRA (Yes, for a 1-Year-Old) 07:00 The Number That Changes Everything 08:00 Roth IRAs and Financial Aid: The Cleaner Vehicle 08:21 Rewriting the Money Script 09:00 Tip You Can Take Straight to the Bank All investing involves risk, including loss of principal. This episode is for informational purposes only and does not constitute financial, investment, or legal advice. Always consult a licensed professional before making financial decisions.

You’ve probably seen the headlines about luxury investments outperforming the stock market… but is that actually true? And more importantly, is this a game only for millionaires, or is there a way for the rest of us to get in on it too? Today, Nicole is joined by Dana Auslander, former Blackstone executive and founder of Luxus, a luxury alternative asset manager with the first dedicated Hermès Birkin fund. In this conversation, Dana unpacks the viral headlines, why her investment thesis puts Hermès bags ahead of other luxury brands like Chanel and Louis Vuitton, and how to invest in a Birkin without buying a Birkin. Then, Nicole and Dana zoom out and explain what the luxury investment trends mean for retail investors, how the macroeconomy impacts luxury investments, and what the counterfeiting problem could mean for the whole market. Then, Dana goes beyond bags and rates watches, art, wine, and jewelry as alternative investments. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Follow Luxus and learn more about the Birkin Fund Here's what Nicole covers with Dana: 00:00 Are You Ready for Some Money Rehab?  01:27 Are Birkins Actually Better Than the S&P 500?  02:00 What Is a Veblen Good — and Why It Matters  04:06 How Much Is a Birkin, Really?  04:29 The Secret to Getting One From Hermès  05:21 Manufactured Scarcity: How Hermès Controls Demand  06:12 The Rise of the Secondary Market  07:35 Gross vs. Net Returns: What the Charts Don't Show You  09:24 Jane Birkin's Bag Sold for $10.8 Million — Dana Was There  13:00 Is Chanel Actually Investment-Grade?  14:00 Birkin vs. Stock Market: Where Should You Put Your Money?  16:38 How the Luxus Fund Works  21:00 How to Invest Without Buying a Birkin  23:36 Sourcing Bags Through Private Dealer Networks  27:15 Storing, Authenticating, and Selling the Bags  28:33 How to Become an Accredited Investor  30:07 Is Buying a Birkin a Proxy for Hermès Stock?  32:20 The K-Shaped Economy and Luxury Demand  35:10 The Counterfeit Problem Is Getting Scary  38:18 Luxury Investment Ratings: Watches, Art, Wine, Jewelry  43:05 Secure the Bag: Financial Literacy for Women All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Jason Oppenheim (real estate broker, founder of the Oppenheim Group— the brokerage covered on Selling Sunset) starts this conversation with a take Nicole was not expecting: it's a buyer's market, and he'd know, because he's been renting for the last three years himself. In this conversation, Jason covers every hot-button topic in real estate. He unpacks how he thinks AI will disrupt real estate and why he believes humanoid robots will be showing houses within the next two decades. He gets brutally honest about the LA market, why wealthy people are fleeing major cities in droves, and shares the cities he thinks real estate investors should avoid. He makes the case that renting is not "throwing money away" — in fact, he argues that in many cases renting is a smarter financial move. He and Nicole also debate whether there's actually a housing affordability crisis (Jason says we're misdefining it), how he thinks about money and happiness, and why he hasn’t changed his financial goals since he was broke. Check out Nicole’s financial literacy course The Money School  Find a Financial Advisor or Financial Coach from Nicole’s company Private Wealth Collective Watch video clips from the pod on Money Rehab’s Instagram and Nicole Lapin’s Instagram  Follow the Oppenheim Group and keep up with Selling Sunset on Netflix Here's what Nicole covers with Jason:  00:00 Are You Ready for Some Money Rehab?  01:11 Is It a Buyer's Market?  02:09 Why Wealthy People Are Leaving Major Cities  04:10 Where Are They Going? (And Where NOT to Buy)  05:38 Why Real Estate Is Not AI-Proof  10:35 “At Some Point, There Is No Work.”  17:43 Why Jason Loves 30-Year Treasuries  19:00 The AI Deflation Thesis  23:54 Is There Really a Housing Affordability Crisis?  30:40 Rent vs Buy Debate  36:21 Behind the Scenes of Selling Sunset  37:06 Does Money Buy Happiness?  39:24 Getting His Rolls Royce Stolen  40:00 How Jason Thinks About Spending vs. Saving  41:43 What Was Jason's FU Number?  42:12 Secure the Bag: Jealousy, Googling Your Own Net Worth, Bad Investments  All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

The SpaceX IPO will likely be the largest public offering in history... But before you get excited, Nicole breaks down how the IPO machine actually works, and why some of the smartest people in finance say the system is rigged against you. Nicole walks through the full IPO process step by step: what underwriters actually do (and what they charge for it), how the roadshow and book-building work, and why the price you'll pay on IPO day is not the price institutional investors paid. She also covers what SpaceX employees need to know right now about their equity, stock options, RSUs, lockup periods, and the tax surprises that can blindside you before you sell a single share. Then, Nicole shares the framework she uses to evaluate any IPO, including the two sections of the S-1 prospectus most retail investors skip, and explains how you can get in on SpaceX before the IPO. Check out Nicole’s financial literacy course The Money School  Find a Financial Advisor or Financial Coach from Nicole’s company Private Wealth Collective Watch video clips from the pod on Money Rehab’s Instagram and Nicole Lapin’s Instagram  Here's what Nicole covers today:  00:00 Are You Ready for Some Money Rehab?  00:04 The SpaceX IPO: Just How Historic Is It?  01:08 How the IPO Process Actually Works  02:12 What Underwriters Do (and What They Cost)  03:04 The Roadshow and How IPO Pricing Works  03:45 NYSE vs. NASDAQ: Where Will SpaceX List?  04:25 Why Companies Go Public  05:14 What SpaceX Employees Need to Know About Their Equity  06:00 Lockup Periods Explained  07:06 Three Things Every Employee Must Do Before an IPO  08:06 Is the IPO System Rigged? Bill Gurley's Argument  10:00 The Figma Example: How Retail Investors Got Burned  11:19 How to Evaluate Any IPO Before You Invest  13:27 Watch the Lockup Expiration Date  14:09 Tip You Can Take Straight to the Bank All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.