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INVESTING Expert: How I Went From $0-$1M By 30! (Anyone Can Do THIS!) | Vivian Tu

Vivian Tu is a former Wall Street trader-turned-expert, educator, public speaker, host, entrepreneur, media powerhouse, and the founder and CEO of the financial equity phenomenon, “Your Rich BFF.”

Vivian TuguestLewis Howeshost

Dec 27, 20231h 17mWatch on YouTube

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Transcript

75 min read · 15,106 words

0:00 – 1:42
Intro
1. VTVivian Tu
  People who are actually rich, like [beep] you rich, they're not concerned about impressing you.
2. LHLewis Howes
  Interesting.
3. VTVivian Tu
  They do not worry about what you think about them.
4. LHLewis Howes
  Our next guest who you might have seen on TikTok as Your Rich BFF. Joining us now is CEO and founder of Your Rich BFF, Vivian Tu. How can we be prepared for what's to come financially? What can we do today to start being better prepared so that we are not as affected as we could be?
5. VTVivian Tu
  I think diversification is really important. So that's-
6. LHLewis Howes
  How much does money affect intimacy in relationships? What have you witnessed personally, but also what have you experienced from your research?
7. VTVivian Tu
  Anybody who says money does not impact your relationship is a liar.
8. LHLewis Howes
  Mm.
9. VTVivian Tu
  Okay? If true, like, physical intimacy is up there, and money's right next to it, why don't we put just as much time into maintaining the money piece as we do the physical intimacy piece?
10. LHLewis Howes
  For people that don't have money-
11. VTVivian Tu
  Yeah
12. LHLewis Howes
  ... or feel like money is out of reach for them, is it possible for anyone to become wealthy or to become rich?
13. VTVivian Tu
  Yeah. I think anybody who wants to have money, anybody who wants to have richness can get there. But-
14. LHLewis Howes
  Welcome back, everyone, to School of Greatness. Very excited about our guest. We have the inspiring Vivian Tu in the house, who is a former Wall Street trader, financial expert, teacher, coach, podcaster, and now author of Rich AF.
15. VTVivian Tu
  Woo!
16. LHLewis Howes
  Which is all about, uh, the winning money mindsets that will change your life. Vivian, thank you for being here.
17. VTVivian Tu
  Thank you so much for having me.
18. LHLewis Howes
  Appreciate it. Appreciate it. I'm so excited because money is something that a lot of people struggle with. So many people struggle with it. Even when they have money, it's almost like they're more afraid of it, and they get more scarce. They don't know how to manage it. All these different things. Um, I'm curious
1:42 – 5:59
Is it possible for anyone to become rich?
1. LHLewis Howes
  though, for people that don't have money, or feel like-
2. VTVivian Tu
  Yeah
3. LHLewis Howes
  ... money is out of reach for them, is it possible for anyone to become wealthy or to become rich? Or is it only for a certain mindset or a certain demographic of people?
4. VTVivian Tu
  Yeah. I think anybody who wants to have money, anybody who wants to have b- richness can get there. But it certainly is not as easy as everyone on the internet makes it seem. It's not, "Rah, rah, Amazon drop shipping. Rah, rah, wholesale real estate. Rah, rah, buy some life insurance, and you're good to go." Like, that's just not it. Um, and I think a big conversation that, like, we don't talk about is, like, proximity.
5. LHLewis Howes
  Mm.
6. VTVivian Tu
  Right?
7. LHLewis Howes
  Mm-hmm.
8. VTVivian Tu
  So, like, in my life now, I have many rich friends, and those rich friends provide me additional rich opportunities. So I got to go to the US Open on a bank's dime because my fiance worked with a guy who is at an investment bank, and he had four tickets. Took him, his wife, my fiance, and myself. Those tickets are thousands of dollars.
9. LHLewis Howes
  Right.
10. VTVivian Tu
  Like, they're very, very expensive. I have friends who had incred- an incredible accountant, had, you know, great team in terms of financials for business, and they were like, "You should talk to my team." That's how I got hooked up with my business manager. If you don't have that proximity to people who have money, who've done it, who played the playbook, how are you going to learn it?
11. LHLewis Howes
  Mm.
12. VTVivian Tu
  Because, sure, if you are a young person growing up low income and you want to make smart money decisions, work very hard in school, get good grades, do the American dream thing, and you go ... You get into Harvard, okay? You get to Harvard. The rich kids still don't wanna be friends with you.
13. LHLewis Howes
  Why not?
14. VTVivian Tu
  Because you can't afford to split the table at the club on Friday night.
15. LHLewis Howes
  Wow.
16. VTVivian Tu
  You can't afford to pay for the dues for your finals club or whatever they call it. Like, you don't have that money to get you there. [smacks lips] So I think the process of becoming wealthy and becoming rich and having money, it's available to anyone, but the trajectory and the timeline is very, very different-
17. LHLewis Howes
  Interesting. So pro-
18. VTVivian Tu
  ... where you start
19. LHLewis Howes
  ... so proximity alone isn't enough is what I'm hearing you say, because you could have the, the grades or the skills and the proximity. But if you don't have the money still, then people may not ... Or what are you, what are you saying?
20. VTVivian Tu
  So I'm saying that proximity makes it easier.
21. LHLewis Howes
  Yes.
22. VTVivian Tu
  So if you grow up rich and your parents are, you know, very, very tough, and they're like, "We're not leaving a penny to you guys," you still grew up around all of those rich people. You still-
23. LHLewis Howes
  You still have access, contacts-
24. VTVivian Tu
  Yes
25. LHLewis Howes
  ... information.
26. VTVivian Tu
  Exactly.
27. LHLewis Howes
  Yeah.
28. VTVivian Tu
  And you still got all those soft skills. Whereas someone whose parents are like, "I will leave you every dollar I have," but they grow up lower middle class, they don't have that proximity that you had-
29. LHLewis Howes
  Mm-hmm
30. VTVivian Tu
  ... growing up.
5:59 – 25:36
What's the difference between people who are actually rich and people who act rich?
1. LHLewis Howes
  rich?
2. VTVivian Tu
  Yes.
3. LHLewis Howes
  What's the difference between people who are actually rich and those who are acting like they're rich?
4. VTVivian Tu
  People who are actually rich, like- You rich. I'm sorry, guys. I shouldn't swear
5. LHLewis Howes
  That's good. That's good.
6. VTVivian Tu
  They're not concerned about impressing you.
7. LHLewis Howes
  Interesting.
8. VTVivian Tu
  They're, they are... I talk about this in my book. They are apex predators. They do not worry about what you think about them.
9. LHLewis Howes
  Wow.
10. VTVivian Tu
  That, the, it is the guy that you see walking into a three Michelin star restaurant in a quiet, normal looking outfit, sweater vest situation, eats his meal, leaves a 50% tip because they can. That's true wealth. Then you've got the wannabe wealth that goes to that same restaurant, dripped out in a designer label.
11. LHLewis Howes
  Mm.
12. VTVivian Tu
  Is, you know, making a scene. "Why isn't this water sparkling? This is still. I don't like that. Na, na, na." Like, just, you know, really, really new to the experience, and then leaves a 10% tip.
13. LHLewis Howes
  Wow.
14. VTVivian Tu
  Yeah.
15. LHLewis Howes
  That's interesting. So do, is there, what are the other soft skills that you can tell between someone who's actually rich and someone who's faking it or trying to be rich, or maybe has some money, but they're trying to show it off too much?
16. VTVivian Tu
  Mm-hmm. So I would say that people who wanna look rich brag about things. "Look at my new bag. Look at my new car."
17. LHLewis Howes
  Oh.
18. VTVivian Tu
  Really rich people, they don't brag. They talk about experiences that they have. So this is an, another experience, and, like, one that I frankly couldn't really relate to when I first started in my career because I didn't come from that kind of money.
19. LHLewis Howes
  Mm.
20. VTVivian Tu
  But when it was around vacation season and people were talking about going to Italy-
21. LHLewis Howes
  And the yachts and the...
22. VTVivian Tu
  Not even the yachts, but everybody had a restaurant in Capri that you had to try.
23. LHLewis Howes
  Wow.
24. VTVivian Tu
  Everyone had their favorite place for gelato, you know, in Venice. Whatever. Like, whatever it was, you could tell that person had lived life-
25. LHLewis Howes
  Mm
26. VTVivian Tu
  ... in a way that someone who doesn't have that kind of access, who doesn't have that kind of money doesn't have, because they can't take the time off. They don't have the money to go to those places, and even if they did, they would be doing things on the path versus stuff off the beaten path that lets them live like a local.
27. LHLewis Howes
  What would you say are, are a few practical things if people are like, "You know, I'm just kind of, I don't have money for the next few months. I don't have an emergency fund. I don't have... I've got debts I'm still paying off." If someone is financially sick and unwell-
28. VTVivian Tu
  Yeah
29. LHLewis Howes
  ... and their financial health is unstable, what are a few strategies they can do to either increase their income or get back to financial wholeness?
30. VTVivian Tu
  Mm-hmm. I would say something that people struggle with realizing is that these changes you'll have to make, they're not permanent.
25:36 – 29:58
How does money affect relationships?
1. LHLewis Howes
  but how much does money affect intimacy and relationships when one person has more than the other, when both have a lot, when both have a little? What have you witnessed and personally, but also what have you experienced from your research?
2. VTVivian Tu
  Yeah. Um, anybody who says money does not impact your relationship is a liar.
3. LHLewis Howes
  Mm.
4. VTVivian Tu
  Okay? It is truly every year they do some ... Somebody does a study, it's money and sex, money and sex, one and two, one and two. They go back and forth between who's number one, who's number two, but, like, those are the top two reasons always. And imagine if true, like, physical intimacy is up there and money's right next to it, why don't we put just as much time into maintaining the money piece as we do the physical intimacy piece?
5. LHLewis Howes
  Mm.
6. VTVivian Tu
  Um-
7. LHLewis Howes
  On making, making a relationship or marriage work, you mean?
8. VTVivian Tu
  Correct.
9. LHLewis Howes
  Yeah.
10. VTVivian Tu
  And I think maybe this is just a phenomenon that I have witnessed, and I will say this from, like, a heteronormative relationship standpoint, but, like, we have a lot of guy friends who make a lot of money, and you are one of two dudes, okay? You either want a partner truly, and, like, I know some of these guys, like, their wives, girlfriends, whatever, are, like, the coolest, most inspirational. Like, they just have the coolest job, or they always have something really exciting to talk about, like a passion project they're working on. They're like, they're just, like, so cool, and they're so smart.
11. LHLewis Howes
  Good human beings.
12. VTVivian Tu
  Like, really nice.
13. LHLewis Howes
  Yeah.
14. VTVivian Tu
  They do something. Like, they just have a lot to bring. They're always the person who's like, "Oh, yeah, like, I brought a snack for you." I'm like, "Well, why do you have a snack for me?" But it's like they're just cool, thoughtful partners. Then there are other people who want a more ... I would say with wives it's more of, like, a traditional marriage.
15. LHLewis Howes
  Uh-huh.
16. VTVivian Tu
  Someone who stays at home, who takes care of the home, and there's nothing wrong with that. When you choose these routes, I think it has a lot to do with having been conditioned into thinking that you need to be the provider. And I will say I think there are a lot of men out there that would not be able to handle having a significant other or a, you know, a woman significant other who makes more money than them.
17. LHLewis Howes
  Really?
18. VTVivian Tu
  100%. 'Cause I think it would be emasculating for some men who are not confident-
19. LHLewis Howes
  Mm
20. VTVivian Tu
  ... in their own masculinity.
21. LHLewis Howes
  Yeah.
22. VTVivian Tu
  And their able- their ability to provide in other ways that are not monetary.
23. LHLewis Howes
  So do you think when a woman makes more than a man in a relationship, that it eventually will fail?
24. VTVivian Tu
  No. Because-
25. LHLewis Howes
  It's possible that it works out?
26. VTVivian Tu
  Yes, I do. I really do. Um, but you have to talk about that-
27. LHLewis Howes
  Mm
28. VTVivian Tu
  ... for sure. Like, I make more than my significant other, and I asked him, I was like, "Does it make you uncomfortable that, you know, I make more than you?" Because for the first five years of our relationship, he made way more money than I did.
29. LHLewis Howes
  Really?
30. VTVivian Tu
  Yeah. He's always made more money than I did until I started Your Rich BFF. And he answered in a really, really thoughtful way, and he was like, "No. Why wouldn't I want you to make more money-
29:58 – 34:04
Why are men intimidated by successful and beautiful women?
1. LHLewis Howes
  and you tell me if I'm, you know, off on this, but I've heard that extremely successful, you know, let's call them boss girls or whatever, boss women-
2. VTVivian Tu
  [laughs]
3. LHLewis Howes
  ... who are, you know, running their own business-
4. VTVivian Tu
  Yeah, yeah, yeah
5. LHLewis Howes
  ... CEOs, making money, you know, leading the way, building, uh, inspiring things, and also extremely attractive women-
6. VTVivian Tu
  Mm-hmm
7. LHLewis Howes
  ... don't get approached by men as much-
8. VTVivian Tu
  Mm-hmm
9. LHLewis Howes
  ... for some reason.
10. VTVivian Tu
  Yeah.
11. LHLewis Howes
  That's what I've heard. I don't know if that's accurate or not, but that's what I've heard. It's like if you're making a lot of money as a woman or if you're extremely attractive physically Guys are intimidated.
12. VTVivian Tu
  Mm-hmm.
13. LHLewis Howes
  This is what I've heard. Why do you think men are intimidated by ex- extremely successful financial success within women or physically attractive women?
14. VTVivian Tu
  A fear of inadequacy, obviously.
15. LHLewis Howes
  Mm.
16. VTVivian Tu
  I mean, I don't mean to say, like, obviously.
17. LHLewis Howes
  Sure. Sure.
18. VTVivian Tu
  You know, think about that. Um, but, like, I think when you see someone that you think is too good for you, whether it be through looks, through money, through anything, um, you would say, "I'd rather quit before I try"-
19. LHLewis Howes
  Wow
20. VTVivian Tu
  ... for that fear of re- rejection. Like, it's such a fact because we have a friend who is just 10 out of 10 smoke show. She's never the one that people wanna talk to at the bar.
21. LHLewis Howes
  Really?
22. VTVivian Tu
  She's sc- oh my God, never. Nobody ever talks to her. She's, like, in the corner because everybody thinks that she will be mean to them. In fact, this, this-
23. LHLewis Howes
  Reject them or be mean
24. VTVivian Tu
  ... yeah, this girl's, like, A+ personality, just, like, so beautiful. Like, I can only say good things, but no one ever approaches her because they think that she will instantaneously think she's too good for them.
25. LHLewis Howes
  Mm.
26. VTVivian Tu
  Whereas, like, if we're keeping it real, there are certainly girls who are not as conventionally attractive as this one friend, but guys feel very compelled. They're like, "Well, this girl and I are probably in the same league, and she seems fun. I'll give this one a go."
27. LHLewis Howes
  Wow.
28. VTVivian Tu
  [lips smack] And that is just so much more approachable because they think that... It's essentially like saying no to yourself or, like, applying for a job that you think you're unqualified for. Like, people are quitting-
29. LHLewis Howes
  Mm
30. VTVivian Tu
  ... before they try.
34:04 – 38:02
How do men get comfortable with a woman who makes more money?
1. LHLewis Howes
  What is it gonna take for a man to be emotionally, spiritually-
2. VTVivian Tu
  [laughs]
3. LHLewis Howes
  ... uh, you know, prepared to connect with a woman for the first time that's making a lot more than them? What do they need to do in order to be comfortable?
4. VTVivian Tu
  Ooh.
5. LHLewis Howes
  And is that, you know, dynamic something that you've seen work in relationships?
6. VTVivian Tu
  That's such a good question because if I'm being honest, I don't know if my fiance and I, if we met now, would be together.
7. LHLewis Howes
  Really?
8. VTVivian Tu
  Yeah.
9. LHLewis Howes
  Holy moly.
10. VTVivian Tu
  I don't know if he's gonna like that I said that, but. I think, uh, I'm ta- I'm taking into account a bunch of other things, right?
11. LHLewis Howes
  Yes.
12. VTVivian Tu
  Like, how busy my schedule is, how I am-
13. LHLewis Howes
  Of course
14. VTVivian Tu
  ... living in a gazillion different places. I'm only in one place every single week. Um, but-
15. LHLewis Howes
  You have history, but if you were meeting now, it'd be different, right?
16. VTVivian Tu
  Well, I think about... Like, I was talking to him, 'cause I was talking to some other creator friends, I was like, "I don't know how I would date now."
17. LHLewis Howes
  Mm.
18. VTVivian Tu
  Like, I don't know who would even possibly be cool with the lifestyle I have.
19. LHLewis Howes
  Right.
20. VTVivian Tu
  We have history. Like, you knew me back when I was swinging from the chandeliers in my early 20s. Like-
21. LHLewis Howes
  Which probably makes him even more desirable for you, 'cause he knew you-
22. VTVivian Tu
  Yeah
23. LHLewis Howes
  ... before you met, had-
24. VTVivian Tu
  'Cause he liked me when I was-
25. LHLewis Howes
  Exactly
26. VTVivian Tu
  ... just little old me with my roach infested apartment.
27. LHLewis Howes
  Right.
28. VTVivian Tu
  He was helping move out. [laughs] Like-
29. LHLewis Howes
  Right
30. VTVivian Tu
  ... he liked me then-
38:02 – 40:05
Can a woman who makes more money then a man respect him?
1. LHLewis Howes
  Do you think women can truly respect men if they are making a lot more than them? Meeting and kind of dating at that point when they're already making more, not kind of building up and making more eventually, but do you think women can truly respect the man they're with if they make a lot more than them?
2. VTVivian Tu
  I'd like to think so. [laughs]
3. LHLewis Howes
  [laughs]
4. VTVivian Tu
  I, I hesitated for too long, didn't I? Yeah. [laughs]
5. LHLewis Howes
  You'd like to think so, but I, I don't know. I mean, just from the experience of like the research you've done, the industry you're in around money, the financial world, the, the people you know, do the women truly respect them? You know, can you... Or is it always a little something underneath the surface that's like, "Okay, he adds value in a lots of other ways, but I'm providing financially for this life." Do you feel like the woman can truly respect that man?
6. VTVivian Tu
  I do because I've seen enough examples of it.
7. LHLewis Howes
  Okay.
8. VTVivian Tu
  I, you know, know quite a few women who make more than their significant other. My mom made more than my dad.
9. LHLewis Howes
  Mm-hmm.
10. VTVivian Tu
  Um, and-
11. LHLewis Howes
  But that was in... That was after a period of time. It wasn't like they met and she's making a lot more.
12. VTVivian Tu
  Uh-
13. LHLewis Howes
  In the beginning, right, when they're like in their 20s. You see what I'm saying? It's like-
14. VTVivian Tu
  Yeah
15. LHLewis Howes
  ... they grew, they grew up, and then they started making more
16. VTVivian Tu
  That, admittedly, I'm not 100% sure.
17. LHLewis Howes
  Right.
18. VTVivian Tu
  I know that since immigrating to the US, my mom had an easier time learning the language than my dad did.
19. LHLewis Howes
  Oh, that's good.
20. VTVivian Tu
  So she's always made more money.
21. LHLewis Howes
  Gotcha.
22. VTVivian Tu
  Um, I know, you know, all of my women creator friends all make more than their significant others. I mean, take Margot Robbie, for example. Her husband was, um, I think like a producer or part of like the crew on one of her shoots, and they met. He ended up just being like someone she gelled with so hard, and now they're married.
23. LHLewis Howes
  Right.
24. VTVivian Tu
  And I think it works. I do think, like, you can... Like, I think society ties so much of human value and respect to the dollar value next to your name, and it doesn't have to be that way.
25. LHLewis Howes
  Right. That's great. Um,
40:05 – 46:57
What can we do to prepare for an unsure future?
1. LHLewis Howes
  I wanna ask you about where you think the world is going with money over the next, you know, year or two.
2. VTVivian Tu
  Oh, God. Okay.
3. LHLewis Howes
  There's been a lot of changes over the last few years with the, with the financial world-
4. VTVivian Tu
  Yeah
5. LHLewis Howes
  ... with interest rates, with real estate, with people losing jobs, with, you know, whoever knows what's happening. How can we prep- be prepared for what's to come financially? Whether it's incredible financially or it's a, a nightmare financially, what can we do today to start being better prepared so that we are not as affected as we could be?
6. VTVivian Tu
  I think diversification is really important. So that's making sure that you have that emergency fund, making sure that there's money you are investing in the stock market through index funds that are all diversified.
7. LHLewis Howes
  Yeah.
8. VTVivian Tu
  You're not just buying, like, one stock and being like, "That's it." Like-
9. LHLewis Howes
  Roll the dice. Yeah
10. VTVivian Tu
  ... yeah, like, it's not like that. Um, you wanna be really diversified. You wanna be buying some bonds. You wanna be buying, you know, equities. You wanna consider maybe investing in real estate. Maybe that's buying, you know, an actual, physical property, or just investing in-
11. LHLewis Howes
  Funds. Yeah
12. VTVivian Tu
  ... REITs or something like that.
13. LHLewis Howes
  Yeah, yeah.
14. VTVivian Tu
  Um, I also think that, like, there is a disconnect right now from like a mindset perspective of a lot of people. And not to get on this, like, rah-rah soapbox again, but so many people now aspire to a life that, frankly, they will never be within their means.
15. LHLewis Howes
  Wow.
16. VTVivian Tu
  And I say that, and I, I know it's harsh, but Keeping Up With the Joneses has become Keeping Up With the Kardashians because you have it all on your phone. You can see this immense amount of wealth that, like, in any other reality, like before our, you know, our parents' time or grandparents' time, you were never able to see it.
17. LHLewis Howes
  Right.
18. VTVivian Tu
  Like, people have always had yachts, but now you see a yacht, like, every other day. You're like, "Par for the course," like, "This is great," whatever. Like, "I should have a yacht, too." And so you got people spending money like it's going out of style to keep up, and it doesn't make sense.
19. LHLewis Howes
  Mm.
20. VTVivian Tu
  I know people who only take black cars. I make seven figures a year, and I am ready to get into the Toyota Camry that picks me up.
21. LHLewis Howes
  Yeah.
22. VTVivian Tu
  Like, it's crazy to me that there is just, again, this almost, like, desire to, like, fake it till you make it, of, like- You know, this, this trend of like delulu, like delusional. Like, yes, in some ways it's great because you want to apply for jobs that you're unqualified for. You want to do things that are outside of your comfort zone, but like that can also put you in a really precarious situation-
23. LHLewis Howes
  Wow
24. VTVivian Tu
  ... very quickly.
25. LHLewis Howes
  Right. It seems like the... I see these clips on like TikTok and different-
26. VTVivian Tu
  [laughs]
27. LHLewis Howes
  ... places of, you know, an interviewer asking like random women-
28. VTVivian Tu
  Yeah
29. LHLewis Howes
  ... in their 20s, like, "Okay, what type of man do you wanna be with, and how much do you think he's supposed to have?" And they're like, "He should be making $400,000 a year, and he should be make- and he should be six foot tall-
30. VTVivian Tu
  Oh, my God
46:57 – 48:35
Why should women want a prenup as much as men?
1. LHLewis Howes
  gonna ask you this. Why should women want a prenup as much as men want a prenup?
2. VTVivian Tu
  Because even if you don't sign one, you get one, but the government gets to write it.
3. LHLewis Howes
  Hm.
4. VTVivian Tu
  And I don't trust the government-
5. LHLewis Howes
  Interesting
6. VTVivian Tu
  ... as far as I can throw 'em.
7. LHLewis Howes
  Interesting.
8. VTVivian Tu
  You have a prenup whether you write it or not, and that is what everybody has to remember, okay? S- Creating a prenup, I get it, it's not the sexiest thing. And it, but it doesn't have to be a, a, you know, horror movie situation where when you get divorced, one person is rich and one person is left destitute. A prenup is truly just an agreement when you and your significant other are in a good place to hash out the details now. Like, no one says the negative stuff that they say about prenups about car insurance.
9. LHLewis Howes
  Hm.
10. VTVivian Tu
  Why do you buy car insurance? 'Cause you might get in a crash.
11. LHLewis Howes
  Right.
12. VTVivian Tu
  But no one wants to get in a crash.
13. LHLewis Howes
  And it may not be your fault.
14. VTVivian Tu
  It may not be your fault.
15. LHLewis Howes
  Yeah.
16. VTVivian Tu
  But when 50% of marriages are ending in divorce and you're not getting insurance, that's insane. That is insane.
17. LHLewis Howes
  That's true.
18. VTVivian Tu
  So I think getting a prenup, getting it in writing, like, hey, if I am a, you know, more traditional role, if I am in the home, you are the breadwinner, if we do get divorced, I need to be compensated for those 10 years that I was not working because that cost money.
19. LHLewis Howes
  Mm-hmm.
20. VTVivian Tu
  And I need to be taken care of. That's okay to say.
21. LHLewis Howes
  Yeah. Wow.
22. VTVivian Tu
  There's value in adding to the home.
23. LHLewis Howes
  100%. What do you think someone should say...
48:35 – 58:50
How to start the prenup conversation
1. LHLewis Howes
  What's the, how's the, how can someone start the conversation-
2. VTVivian Tu
  Yeah
3. LHLewis Howes
  ... of, "Hey, I think we should get a prenup"?
4. VTVivian Tu
  Yeah.
5. LHLewis Howes
  What should that conversation look like so it's the least amount of stress-
6. VTVivian Tu
  Yeah
7. LHLewis Howes
  ... and can be actually enjoyable-
8. VTVivian Tu
  Yeah
9. LHLewis Howes
  ... to, to address and talk about?
10. VTVivian Tu
  Yeah. So I think it's very hard if your first financial conversation with your significant other is, "I want a prenup."
11. LHLewis Howes
  [laughs]
12. VTVivian Tu
  Because it, you know, it's, it's- A little dicey.
13. LHLewis Howes
  Yeah.
14. VTVivian Tu
  It's, it's, it's a little hurtful. But if you are even in that vague stage of potentially proposing, potentially getting married to somebody, you should have already been talking about money.
15. LHLewis Howes
  Mm-hmm.
16. VTVivian Tu
  Because the very first document that you and your partner sign probably isn't a marriage license, it's your first lease.
17. LHLewis Howes
  Wow.
18. VTVivian Tu
  And you guys had to talk about how to split that rent in two.
19. LHLewis Howes
  Mm-hmm. Yep.
20. VTVivian Tu
  You guys have to talk about who's paying-
21. LHLewis Howes
  It's true
22. VTVivian Tu
  ... for what on vacation.
23. LHLewis Howes
  It's true.
24. VTVivian Tu
  You guys talk about who pays for the groceries, who, you know, who's paying the electric bill, who's paying the Wi-Fi, who's doing all that. You're living together probably. Most re- most couples live together before they get, you know, more government involved.
25. LHLewis Howes
  At least in America, yeah.
26. VTVivian Tu
  In, in America, I would say. But you wanna be having a financial check-in with your significant other pretty regularly.
27. LHLewis Howes
  Wow.
28. VTVivian Tu
  I would say-
29. LHLewis Howes
  How does that look like for you, you know, with your fiance? What's-
30. VTVivian Tu
  Um, we, we, we, like, check in, like, every couple days.
58:50 – 1:02:04
How to protect yourself professionally in a layoff period
1. LHLewis Howes
  now.
2. VTVivian Tu
  Yeah.
3. LHLewis Howes
  And it seems like a lot of people are getting laid off.
4. VTVivian Tu
  Yeah.
5. LHLewis Howes
  You know, these mass layoffs at big companies.
6. VTVivian Tu
  Yeah.
7. LHLewis Howes
  And there's uncertainty financially with where the economy is going, what we'd already talked about. What do you think people can do to set themselves up for success or protect themselves at their current company to ma- ensure that they're not one of those mass layoffs, either in the near future or sometime in the future afterwards, and how can they start to predict if they might be someone who is gonna get laid off?
8. VTVivian Tu
  Yeah. So you wanna make yourself essentially irreplaceable, and the way to do that is to make yourself a key point of failure. So this is something that like, like big consulting firms go and find.
9. LHLewis Howes
  Really?
10. VTVivian Tu
  Key points of failure. It's, it's something like, um, the one IT guy who has all the passwords.
11. LHLewis Howes
  Ah.
12. VTVivian Tu
  Or the one social m- media manager who is the only person who knows where the analytics folder is.
13. LHLewis Howes
  Right.
14. VTVivian Tu
  Like, you want to be that.
15. LHLewis Howes
  Uh-huh.
16. VTVivian Tu
  Right? You wanna make sure that they... This business cannot operate without you, so-
17. LHLewis Howes
  What if a business is already smart enough and they're like, "Okay, we have backups for everything."
18. VTVivian Tu
  Yeah, yeah, yeah.
19. LHLewis Howes
  "We have processes in order."
20. VTVivian Tu
  Yeah, yeah.
21. LHLewis Howes
  What if they've already got that process?
22. VTVivian Tu
  Oh, most businesses are.
23. LHLewis Howes
  Yeah.
24. VTVivian Tu
  So I think it's finding a way to make yourself indispensable by still being a key point of failure-
25. LHLewis Howes
  Right
26. VTVivian Tu
  ... in that like, "Oh, I am on the sales team. I'm the number one gal."
27. LHLewis Howes
  Wow.
28. VTVivian Tu
  "I'm the number one guy. If they lost me, they would lose 25% of the year's revenue."
29. LHLewis Howes
  Mm-hmm.
30. VTVivian Tu
  'Cause guess what? They're not, you're not gone. You're never gonna be gone.
1:02:04 – 1:04:25
Why do people think they deserve a raise when they do the bare minimum?
1. LHLewis Howes
  minimum? Why do you think people think they deserve a 10% raise for just doing the job minimum?
2. VTVivian Tu
  Well, f- in recent years, because of how the job market's been, it's been a employee's market, meaning there was always another company that was willing to hire. Like, there was this massive COVID boom, actually, where it was The Great Resignation. People were leaving jobs left, right, and center 'cause they could get paid more somewhere else.
3. LHLewis Howes
  Mm-hmm.
4. VTVivian Tu
  And now-
5. LHLewis Howes
  Do you think it's gonna f-
6. VTVivian Tu
  It's-
7. LHLewis Howes
  ... go back the other way?
8. VTVivian Tu
  Right now, it's doing this.
9. LHLewis Howes
  Yeah.
10. VTVivian Tu
  It's coming, it's coming back in, and you have to be good at your job. Let me be clear. Again, those A+, A+ employees, they're still leaving jobs. They're still going to new places, and they're still getting paid, and they always will be. 'Cause if you're really good, there will always be some- somewhere and somebody who wants you.
11. LHLewis Howes
  Mm-hmm.
12. VTVivian Tu
  But for people who are doing the bare minimum, it's harder to hide now because when things at the top and, you know, the bottom line revenue is not so frothy, they have to trim fat. And if you're doing the bare minimum, you're gonna be the first on the chopping block.
13. LHLewis Howes
  Yeah.
14. VTVivian Tu
  So I think it's important about making your s- self indispensable and actually doing good work.
15. LHLewis Howes
  Right.
16. VTVivian Tu
  But in terms of, like, prepping for a layoff, again, I think it's important to have that emergency fund. Um, I've made content about this, but just, you know, check those warn notices every so often. Basically, if you just Google your state and warn notice.
17. LHLewis Howes
  Warn?
18. VTVivian Tu
  W-A-R-N.
19. LHLewis Howes
  Warn notice.
20. VTVivian Tu
  A warn notice, Warn Act. Um, it is basically any corporation with over a certain number of employees needs to give notice when they're doing a mass layoff.
21. LHLewis Howes
  Oh.
22. VTVivian Tu
  Lots of companies try and skirt this by getting rid of, like, an, a slightly odd number below the threshold or, you know, giving just enough time, whatever. But just check.
23. LHLewis Howes
  Mm-hmm.
24. VTVivian Tu
  I think it's important just to have-
25. LHLewis Howes
  Yeah
26. VTVivian Tu
  ... an eye out and you're like, "Oh, wow, okay. Like, a lot of companies in the hotel and hospitality space-
27. LHLewis Howes
  Right
28. VTVivian Tu
  ... are laying off a bunch of employees. My employer's not on this list, but I might be soon."
29. LHLewis Howes
  Who knows? Yeah. What skills should employees be developing throughout the year or years at, um, you know, a career
1:04:25 – 1:17:48
What skills can people gain to make themselves more indispensable?
1. LHLewis Howes
  or multiple careers? What, what can they develop to make themselves more indispensable, besides just like, "Okay, I'm doing the job, and I'm showing up and doing it, but should I be taking classes? Should I be learning public speaking? Should I be," I don't know, some other skills-
2. VTVivian Tu
  Yeah
3. LHLewis Howes
  ... learning to make myself more desirable at the current job or at another place?
4. VTVivian Tu
  Yeah. Um, I think every job, being good at your technical skills is great, but you wanna have transferable skills, and these are the soft skills.
5. LHLewis Howes
  Bring it.
6. VTVivian Tu
  The, the, you know-
7. LHLewis Howes
  What is it? What is it?
8. VTVivian Tu
  Just-
9. LHLewis Howes
  Tell me
10. VTVivian Tu
  ... just, again, it goes back to those fork-and-knife skills.
11. LHLewis Howes
  Yes.
12. VTVivian Tu
  You wanna be able to have a conversation with just about anyone.
13. LHLewis Howes
  Yes.
14. VTVivian Tu
  You wanna be able to make someone feel special. And I feel so lucky because after my stint on Wall Street, I went and worked at a media company in strategy sales. And let me tell you, sales, that is another beast-
15. LHLewis Howes
  Yes
16. VTVivian Tu
  ... because you eat what you kill.
17. LHLewis Howes
  Yep.
18. VTVivian Tu
  And I got some sales training that, you know, my company obviously paid thousands and thousands of dollars for, and I don't remember any of it except for one thing, WIIFM.
19. LHLewis Howes
  What's that?
20. VTVivian Tu
  So you guess what that means.
21. LHLewis Howes
  W-I-
22. VTVivian Tu
  I
23. LHLewis Howes
  ... F-F... Oh, two I.
24. VTVivian Tu
  Two I's. FM.
25. LHLewis Howes
  F-M.
26. VTVivian Tu
  [laughs]
27. LHLewis Howes
  I was thinking what if something, but I'm not sure.
28. VTVivian Tu
  Okay, so you got the W.
29. LHLewis Howes
  What.
30. VTVivian Tu
  What's in it for me?