How to Get Rich the “Lazy” Way w/Vivian Tu

Episode #485

Everyone wants to know how to get rich. And here’s the truth: getting rich might be much easier than you think. While most people would assume the wealthy grind their way to success, this isn’t always the case. In fact, rich people are FAR lazier than you think, and we’re not saying that in a bad way. Rich people make money while they sleep, so they don’t HAVE to work harder every day. Want to know how you can do the same? Vivian Tu, AKA “Your Rich BFF,” will show you how!

Vivian grew up with super-saver immigrant parents who taught her the value of money. When she went off to college, she realized a whole new world of wealth existed—this was only multiplied when she became a Wall Street trader. Vivian saw the fancy suits, the designer bags, and the jewel-studded bracelets and realized that these “rich” people were doing something most people didn’t know about. After her friends and coworkers wouldn’t stop asking her for financial advice, she decided to take her knowledge to the masses.

In her new book, “Rich AF: The Winning Money Mindset That Will Change Your Life,” Vivian details what the rich do that you (probably) don’t. These habits of the wealthy can change your life and upgrade you from the position you’re in now. In today’s episode, we talk about the tools you can use to get rich, why you’re playing real-life Monopoly all wrong, and how rich people think to build wealth even when they’re not working.

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Money and Relationships: How to Have “The Talk” Before It’s Too Late w/Vivian Tu AKA “Your Rich BFF”

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5 Habits of the Wealthy That Helped Them Get Rich:

5 Habits of the Wealthy That Helped Them Get Rich

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00:00 Intro

01:34 Super Saver to Wall Street Trader

06:13 Leaving Wall Street

08:22 Financial Literacy for the “Leftovers”

15:36 Playing Real-Life Monopoly

18:55 How The Rich Think

26:13 Stop SAVING Money

28:41 You DESERVE a Raise!

33:38 Put Your Money HERE

36:17 Connect with Vivian!

36:41 You Can Be Rich!

Hello listeners and welcome to the Bigger Pockets money podcast where we interview Vivian 2 from Networth and& chill and talk about her new book Rich AF hello hello hello my name is Mindy Jensen and with me today is the She Wolf of Wall Street Amanda wolf Amanda I’m so

Glad you could join me today thanks for having me I’m excited to be here I always love talking to you Amanda yeah Amanda and I are here to make Financial Independence less scary less just for somebody else to introduce you to every money story because we truly believe Financial Freedom is attainable for

Everyone no matter when or where you’re starting whether you want to retire early and travel the world go on to make BigTime investments in assets like real estate or start your own business will help you reach your financial goals and get money out of the way so you can

Launch yourself towards your dreams okay Amanda I am so excited to talk to Vivien today because she has a great framework for not only becoming rich but also a great way to think about being rich and growing your wealth and ways to invest so that you can join the rich people

Club too yeah and you know I loved her book so much and I’m so excited to talk to her because I think that she had a really refreshing unique spin on money mentality stuff and thinking Rich um and you know I’m a total like self-development money junkie I read all

The books and and I really liked the way that she broke things down she broke things down in a lot of analogies and storytelling which I find really helpful for me to retain information so I’m super excited to talk to her today I thought her book was awesome viven is an

Ex-wall Street Trader and is now the founder in CEO of your Rich BFF media and the host of the podcast Networth and chill Vivien produces educational Financial content on Tik Tock Instagram and YouTube with over 5 million followers across those platforms Vivian welcome to the Bigger Pockets money

Podcast I’m so excited to talk to you today thank you so much for having me I’m so excited to be here Vivian for those who don’t follow you yet on social media can you tell us a little bit about yourself yeah so I am the daughter of

Two immigrant Chinese parents uh I grew up in the suburbs of DC went to school in Chicago and when I graduated I started my career on Wall Street that is my my big tagline your favorite Wall Street girly uh I started as a Trader I traded equities and I did that for a

While until I realized that that job wasn’t the best fit uh I wasn’t making the kind of money that I had seen in the movies and I wanted to do something that was a little bit more creative but also where I could just get paid more um I

Ended up moving into the tech and media space and there all of my new friends wanted to hear more about what I was investing in should they put money into our company 401K what kind of health insurance to buy and I ended up creating educational content to put on the

Internet because they wouldn’t stop harassing me about it and as it turns out a lot more people needed that information than I had anticipated and very much the first video I put up went viral like that and overnight I became your Rich BFF well I love that so

Growing up what was your relationship with money and how did you start to educate yourself I would say my parents were really good at saving as you know that’s like the story of like so many immigrant parents um my mom was a coupon Clipper I would like sit there and cut

Them with her um and we would wash Ziploc bags and in our kitchen there’s like a drawer with like one big trash bag with like a bunch of smaller like grocery bags in it we save all the bags and we’re bag people but um what that ended up teaching me was to really

Really value a dollar and how I how hard somebody has to work to have that dollar um so I’ve always been really good at budgeting and saving and I’m certainly not someone who’s been a frivolous spender in the past uh but you know going to school in Chicago I went to the

University of Chicago I grew up in what I would consider like a upper middle class neighborhood I would say in that neighborhood my family was probably slightly below average in terms of like wealth um I got to college and I saw a level of wealth that I had just never

Seen before it really really led me to feel like I had to do certain things to keep up appearances which frankly like if you don’t got it like that like you’re just never going to be able to keep it up so I I would say I probably made some money mistakes in college

Spent some money that I certainly shouldn’t have on things that I didn’t need to impress people that I didn’t even like and it wasn’t until I graduated and got my first big girl job full-time I was working on Wall Street that my mentor my very first manager

Took me under her wing and she was so cool and everything I wanted to be new new Chanel bag new new pair of Gucci stilettos every single day to work would click clack in on the way and I was like wow I want to like have that um but she

Was also the first person who explained investing in a way that I understood and it was like she was like listen like I grew up um my family ran a Chinese restaurant like I didn’t come from money she had a very similar background she went to Stanford on scholarship like did

Not have that did not have money like that got this kind of job and she had to learn things the hard way she was like I did not contribute to my 401k for the first 5 years of my career cuz I couldn’t afford to I literally was hand

To mouth and she’s like I know that’s not the case for you so you need to be doing this and so she was really the first person who encouraged me to use investing as a tool to grow my wealth versus just scrimping and saving and cutting out every single purchase that

Brought me a tiny ounce of joy in my life so it’s so it sounds like she was really like a pivotal moment in your life as it relates to Finance right so you did the couponing and the reusing of the paper bags and probably the containers for your Tupperware type life

Right and then know what we know right so then you’re exposed to like all of this great wealth you’re working on Wall Street so what made you decide that you wanted to get into the personal finance education space and start your platform your Rich BFF and net worth and chill

Yeah so I was working on Wall Street um and I was working for my manager who I loved so much but I ended up getting switched over to work for somebody else and this new guy was just awful he treated me badly I was not given the respect that I deserved

And frankly he was a chauvinistic you know Pig um who would say racist things like when I would wear a long cardigan to work he would ask is that a kimono and touch his hands and bow at me um and it was just really really inappropriate and I knew that he

Wasn’t ever going to be my Advocate but more importantly he was never going to pay me I was never going to get the money that I had been promised for sitting 14 hours next to an insufferable man to then have to go to a client event

After work like all of the things that I was promised I wasn’t getting and I was like well I’m going to get them one way or another whether or not it’s through this traditional corporate financy route um so I told my mentor was like Hey I’m

Not cool with this like I’m about to leave and she was like no no no like you know do some interviews I ended up interviewing with her best friend who ended up becoming my first manager and I moved into the tech media space in uh strategy sales at BuzzFeed and there I

Made a lot of new friends who wanted my advice who wanted a recommendation on what they should do like should they buy the company stock options should they uh select this fund over another in their 401K portal and because it was so crazy to me that so many people had the same

Questions I just started making videos so I could refer back and be like hey guys if you have this question just like go watch video 7 like at the lunch table I didn’t mean for it to become a whole business and uh you know take my job into the entrepreneurship realm like it

Did so you wrote a book called Rich AF uh that’s that’s what we’re going to call it today Rich AF can you tell us about this book and why you chose to write this at this time and who did you write it for yeah so there I

Felt like there had been a slew of really really classic OG Finance books that had served my parents generation really well but knock knock welcome it’s 2023 it and it does not look the same anymore the landscape is not the same wages have stagnated the price of

Housing has tripled the price of an education has 10 xed we do not live in the same reality that our parents live in and on top of that I think it’s been easy for some people for a while they’ve been playing on tutorial mode like if

You are a old rich white guy you can get into your little time teleportation M machine and go back to any time in the timeline as a young Asian woman there are some time periods that I cannot go to if you are a black person there are

Some real time periods you cannot go back to if you are a gay person there are many times that you cannot go back to and I think that speaks volumes to the access we’ve all had with financial information for some time as well because for so long Financial Services

Has only catered to people who are already rich likely white and likely men and that’s not fair I wrote this book to teach personal finance to people who I like to you know call my audience I’ve lovingly dubbed them The Leftovers they are the people that the financial

Services industry has left over these are women these are people of color these are the lgbtq community these are people who grew up lwi income these are people who may not have gotten that education because they grew up with money trauma and it’s so important in particular for those communities to

Learn about this because that is how you build up overall in those demographics because when you put money in those Pockets that money gets reinvested and so it’s important to not concentrate wealth just with people who already have it right and that’s definitely what continues to happen within Generations

Right and I think that we can probably all agree that financial literacy is quite often missing in most households and schools in the US so can you talk to why fin fincial literacy is so important why it’s never too late because I think that’s another one too right like well

It’s too late for me so I’m just going to set my kids up or does it even make sense to start now so um can you talk a little bit about that yeah absolutely um it is a damn shame that you are legally obligated to go through 12 years of

Education so first through 12th grade um I don’t know if kindergarten is mandatory but um you know you have to go through school like if if you don’t take your kid to school or if you don’t homeschool them or they’re not in some sort of Education you as a parent can

Get in a lot of trouble you then expect them to get the education they deserve in those schools and I’m not putting this on teachers certainly not because they are bound by what is federally and like State mandated and financial literacy is not a ferally mandated

Subject so I’m out here in my biology class learning that the might mondria is the PowerHouse of the cell sick you know what I didn’t become a scientist I I’m out here learning that the Pythagorean theorem exists I’m learning s cosine drawing triangles you know what I don’t

Do draw triangles for a living you know what both a scientist and a mathematician and literally anybody who makes money needs to do pay taxes legally speaking that would have been nice to know how to file a tax return because first year I did it I thought I

Was going to jail and it would have been nice to know how to make a budget because the first year that I moved to New York City was working on a Wall Street salary I was living paycheck to paycheck that’s bad and I think about all the people who didn’t make as much

Money as I was making living in New York City which is many people like how are they doing it because we’re not taught how to do these things in school so of course the people who know the secrets the rich people who’ve already got this game figured out they’re going to pass

Those Secrets down one rich person to the next down their generational line and that same family just because great great great great great grandpa like owned a rail road like now the entire family is just set forever like I don’t necessarily think that makes sense I think there needs to be class mobility

In a place like America but also just across the world because what is the point of working hard or dreaming of a better future if there is no class Mobility if the ability to work harder to make more to have a better life does not exist like what’s the point so I

Think that’s really really important um and then you know in terms of people fearing that it’s too late and like oh like I’ll never be good at this like I’m going to just set my kid up I think wanting to set your kid up for Success

Speaks to you being a great parent of course you should want that but it is never ever ever too late for anybody to finally figure out their finances to get good with their money because you owe it as a service to your children as well as yourself to get

Yourself in the best financial position possible because you know what happens when you are like oh I’ll start helping to save and invest for my kids but I’m not going to do anything for myself when you become too old to work that burden will fall on someone else and likely

It’ll fall on your loved ones and I would hate to be a burden and I hope people don’t think of it that way I hope people are like well I’ve you know done a good job raising my kid they love me they’re going to take care of me but you

Should want to be able to take care of yourself the hope is then even if you can take care of yourself your loved ones love you enough to want to take care of you but it’s important to want to set yourself up for success as well

As your kids so I really don’t think it is ever too late to learn about finances to learn about money the best day to get started was yesterday but today is the second best day so the sooner you can do it the better I love that my daughter is

A junior now and in high school and her freshman class was the first class in Colorado that was required to take 0.5 credits of personal financial literacy classes to graduate but I am very excited not only for this class but you know going forward I’d like to see it be

More than just 05 credit hours to graduate um and you know reading your book you had a really great analogy about playing Monopoly and I totally identified with your stance on playing Monopoly because I never read the rules somebody taught me how they played Monopoly oh you just go around the board

And you collect $200 every time you pass go so that’s what I did and I have never put a house um can you explain this this analogy for our audience yeah absolutely so um the way I like to think about it is that life very literally is a board

Game and most of us learn how to play the board game of life in this case Monopoly the same way that we learn how to tie our shoelaces or learn how to hold a pencil or what kind of foods we like we learn from our our loved ones our Guardians our parents

And you’re not reading the rule book of life you are not looking up every single law that you could potentially break on like the police department’s website you’re you’re just doing what the people around you are doing because you’ve learned like okay like if I can have a

Nice life I can do this but the thing is is that some people are taught every single rule and then taught when to use those rules and when to build a house and then to turn that house into a hotel and should you buy the railroads and

What happens when you get sent to jail and when you pass go what are some secret things you can do to make sure that you’re collecting your $200 but still getting to roll again or like there are so many intricacies when it comes to our personal finances that the

Vast majority of us don’t know about and even if we do know about we don’t know how to effectively use and that’s the difference between knowing the rules and having a strategy so it’s not just about understanding like oh the max contrib ution of a Roth

Iray for the 2023 tax year is XYZ frankly I’m someone who can hardly remember those figures every single time I talk about a certain type of account in my content I got to Google what’s the contribution limit again and that’s okay because it’s not the number that matters

It’s not those figures that matter it’s about teaching somebody how to fish versus just giving them the fish you want to be able to be financially literate and I say say that not like knowing every fact about Finance in the world but being able to do the research

And get to an answer for every question you have so you need to understand what something like a Roth IRA does you don’t need to remember all the facts and figures of like what’s the income limit how much money can I put into it like what happens this like you can look all

Of that information up you don’t need to memorize it and every year likely it’s going to change so what’s the point but you have to understand that having one can help you save an invest for your retirement you acquire some tax benefits and there are some other cool things

That you can spend that money on along the way that you can take that money out for penalty-free and you got to know that and so I think it’s very much about learning how to strategize your life versus memorizing every single rule I love that it’s it’s the teaching you to

Fish it’s no but it’s also knowing what to look up right so it’s what is a raw Ira like maybe I have to start there so I love that um and then you have another point in the book that I really love um that says that rich people think

Differently and I love that think it’s so true so can you tell us about how rich people think differently oh there’s so many different types of ways that rich people think differently and I outline a lot of them in my book so please please go pre-order go byy um you

Can find the book at rich. me yes I made the URL a manifestation um but what I think is really really key is a sense of entitlement so I always talk about this like my parents came to this country and they were focused on Survival because

They were immigrants but I was born here baby I got a blue passport what you going to do where are you going to send me like I am entitled to be an American and live my best life and I know that I trust that and I don’t mean be entitled by like

Harassing the poor person working at the cashier reg like the cash register at like the Burger King that’s not what I mean don’t be a Ken but what I am saying is like rich people understand the value of what they have no matter how much money no matter what they understand the

Value they know what they can ask for they know that they can negotiate they know that if they get hit with a late fee all you got to do is call and ask for it to get taken off and they’ll probably take it off and I think having a little bit of entitlement

Understanding that your business is worth something your patronage is worth something your review on Yelp is worth worth something is really important because those moments will help you get the most out of what you have and that’s why rich people aggressively negotiate when they’re buying a home aggressively

Negotiate at the car dealership they will go back and forth and back and forth for three hours and then walk away until the guy from the dealership is literally like sprinting to chase after them to give them an extra $2,000 off of you know the MSRP like whatever it’s

Important to remember that like you have value as a person and you need to take advantage of that because businesses know it and when you realize it you’re going to be able to really really maximize what you get out of those businesses I love that another point in

Your book that I found fascinating and a little surprising was you said that rich people are lazy which on the surface doesn’t sense because how can they be rich and lazy um rich people are the laziest oh my God are you joking um fun fact I just went I um just went on

Vacation and stayed at this very ritzy Resort and you know my fiance and I we are like oh like it’s great like we’ll walk uh the half mile down to the beach whatever it’s everyone was taking golf carts all around this proper like they did not want to walk so yes anecdota

Totally rich people very lazy but even more so what I mean by that is rich people love to talk about working hard hustle hard like you know always grinding money never sleeps like it’s like so gross and cliche those sayings but in reality they want you to work

Hard they want you to pump their gas hard they want you to Door Dash their food hard they don’t want to work hard they know that their human bodies can only work a certain number of hours a day typically you know you see people working 9 to FES even if like a very

Like ambitious quote unquote rich person is working a 14-hour day like I did when I started on Wall Street you can only work so many hours before your body just gives out before your brain is not functioning the way that it probably would at its best and they know that so

They recognize that it’s better to have your money make you money than to have your brain or your body make you money they don’t want to be thinking they do not want to be lifting things they do not want to be walking they want to be chilling they want to chill by their

Pool they want to go play a round of golf they want to go get a massage as does everybody because all of us want the best life that money can buy and when you come to the realization that at the beginning of your life you will work

Hard for money but if you can get investing sooner rather than later your money can work hard for you and you can put your feet up that’s the key lesson that everybody should realize I love that because it’s it’s not the hardest worker who becomes richest right otherwise like every janitor every

Teacher right I think that’s such a good point I love that um you also say that rich people don’t care about impressing you which I thought was really interesting and made me sit and think for a minute because a lot of rich people they’re the first ones to go grab

Like all the name brand everything right so how is this true and what are they spending their money on um they don’t care about impressing you because you know they can afford it so I was talking about buying designer goods and what kind of like Mental Math

That I’m doing to decide whether or not a piece is like worth buying or not and someone was like this girl’s a hypocrite like she’s wearing an heres necklace BL D and I’m like babes I hate to break it to you this was $188 and you can find it

On my Amazon storefront like it was like a literal joke like it wrote itself because you know that I’ve got the net worth to buy the real thing when I buy something that looks similar you just assume I got the real thing because you know I can afford it I don’t care about

Impressing people with Goods anymore I’ve noticed that like a lot of people are leaning into the quiet luxury Trend which I’m just like G gross um but I think it’s true in that rich people still like to flaunt their wealth but they only flaunt it in a way that is

Like you can clock it if you’re rich yourself like it’s not necessarily even about impressing people it’s about spending money on things that like you personally appreciate and I noticed that about myself when I first got to New York I was spending more money on designer

And luxury goods so much more money than I do now on them because now I can really actually afford them and I don’t need them like what’s the point like that holds my stuff just as well as like that tote bag I got for free at that one

You know fair that I went to they were like handing them out like it holds stuff great like for me it was almost like a armor like showing people that I belong I have money I can do those things but rich people know they belong yeah because you had been trying to

Belong for so long right say that five times fast right you get to College you’re exposed to all these different things and now I’ve like I’ve reached it I’ve achieved it kind of right so yeah oh yeah I love that and and you say something else in your book that I think

Is really interesting um that I also totally agree with is that you can’t save your way to Rich you can’t save your way to Rich so um a part from like not buying things to impress people um and and buying things really intentionally and on things that matter

To you what do you mean by you can’t save your way to rich is it that they’re out there spending everything or can you unpack that a little bit yeah um so back in our parents day it was an honor to be a blue collar worker if you were a

Trades person you could work you could be a plumber an electrician whatever you would be able to do that and your partner likely could stay at home home and you would be able to eventually afford a home your 2 and a half kids golden retriever white picket fence

House with the tire swing in the front you know like you were able to have that nowadays though you can’t just save your way to that dream anymore because the cost of living the cost of housing the cost of an education has so grossly outpaced wages and it’s important to

Note that now even if you are a single person if you want to get to retirement if you want to live your happily ever after you need to be in a two income house and you’re like bruh I’m not picking up a second job I don’t want to

Do that like that sounds so horrible no no no no no hear me out you can have one income from your job or your side hustles whatever but your second income needs to come from investing because you can only save as much as you earn but you can

Always earn more money and when you are doing two pieces of pie being one maximizing your income from labor so asking for a raise every year picking up a side hustle just increasing the amount of cash coming in the door you were then able to put more of that cash towards

Investing and again it’s basically like giving your money to your secret best friend who can work 247 does not need a coffee break does not need does not need to get you know medical dental benefits your money is 247 that can work for you is like having a little employee and

Your little employee makes money and you make money and the more money you make the more money your little employee can make and eventually you have two streams of income being one person okay so let’s talk about some of these tools that we can use to become rich to create

Additional streams of income to help us generate this wealth and generate more in come to invest in yeah so I think number one first and foremost is I’m very much of the camp that everybody needs to be asking for a raise every single year and I don’t mean some ranky

Dink inflation raise you’re getting two three% that does not count no sorry that just makes sure that you can still afford eggs you need to ask for 10 to 15% every single year and people always bulk at that number I’m not saying you’re getting 15% every year but you

Need to be asking for it and if you end up getting 8 9 10 12% great you’ve still beat inflation and you’re making more money now that’s awesome but if you are in any job for two years and you haven’t been promoted you haven’t been given a raise it’s

Probably time to start looking elsewhere because it has been proven through a longtail research study that if you do not get a raise every two years over the course of your your lifetime you’ll make 50% less and that is insane to me because that’s half half you want to

Make half as much money imagine having what you currently make would you be cool accepting that I I would not I would not be cool with that and I don’t think a lot of the listeners would be either so if you don’t want to make half

As much as you deserve in your lifetime you need to make sure you are getting paid more a meaningful amount 10 to 15% every two years and if you’re not you need to look elsewhere cuz every two years you got to go up or you got to go

Out wow yeah 50% I didn’t realize that was half and think and think of how many people stay in their jobs for like 10 15 20 years right and I it’s it’s more than just getting out of your comfort zone it’s your entire livelihood and your entire retirement and so many things and

I will say back in our parents generation people stayed at companies they were Company Men company women because they had a reason to be right you would stay at a company for 30 plus years because you had a pension exactly the longer you stayed somewhere the more money your employer was legally

Obligated to set aside for you in retirement not your money their money they would then invest that money and regardless of how those investment returns did you would be owed a dollar amount already calculated for you in retirement so you could Bank on that money the problem became when 401ks were

Invented I want to say in the 70s uh late ’70s I don’t know the exact off the top of my head but like when they were invented companies instantaneously started adopting them because they were like suddenly this is not our problem it’s your problem amazing and so they’ve

Now passed that burden of retirement onto the workers and so not only is the 401K worse in every single way like your employer is maybe matching your contribution but like you have to be the one to put your money away for retirement and what does that mean that

Means you have to be paid more it means you have to have more of a reason to stay somewhere there’s no incentive keeping you around so like now people in our generation can’t afford to be loyal whereas it paid to be loyal back in our parents generation so things have

Changed and we have to address that because the way you make strategic decisions in your life is going to differ based on how the rules of the game change I love that and I I think that a lot of that like old advice is still being trickled down to people

Because you meet people and you’re like two years no that’s too soon five years like you’re barely like learning the role still and I’m I I think that’s it’s really interesting because it’s the parents and the grandparents like they’ve grown up with pensions to your point and they were taken care of in

Retirement and that’s not the truth anymore yeah I remember my dad impressing upon me don’t job hop and your your resume looks terrible because you’ve you know quit a job every year year and a half since you started and you don’t need a three-page resume well

You know yeah I do I don’t actually need a three-page resume one page is fine you just highlight the highlights but yeah you have to job hop in order to make any money the new hire budget is much bigger than the retention budget isn’t that crazy too

Because it would be so much cheaper to just be like hey we’ll pay this person like marginally more and they already know how to do the job versus like oh no we lost our star Talent again why does this keep happening to us it’s like you

Know why this keeps happening to you you know exactly why I know why it keeps happening to you yeah it’s like literally just pay your employees what they’re asking for question like is that confusing like I don’t get it yeah no it it shouldn’t be confusing but it is all

Right Vivian if someone wanted to get started today on their journey to becoming rich AF what advice would you give to them you know I think one of the easiest things that you can do in 15 minutes is just signing up for a high yield savings account

So I think a lot of us think of bank accounts as like the traditional brick and mortar there’s like a bank on the corner they’ve got an ATM and maybe they gave you like a baseball cap in college like you’re like sick okay they’re like

My bank forever um no that’s not a good idea uh you want to go with a high yield savings account or a high yield checking and savings account if you can find access to one because you literally just get paid more interest to park your

Money with a bank um how this works is is when you give your money to a bank to put into a checking or savings account that money doesn’t just sit there it may sit there in the app like you show the number sure but that money then gets

Lent out to people whether that be through mortgages or personal loans or small business loans what have you that money gets lent out and you know for a fact the bank’s making a killing lending that money out what are you getting couple cents every year like gross yeah

But if you have a high yield savings account you can get a lot more interest is it you know the amazing solution you can just put your money into a high savings account and retire no but it is going to help preserve your wealth better than putting it in a

Regular savings account and once you have an emergency fund set up in your high yield savings account you can really start focusing on high interest rate Debt Pay down you can focus on investing there’s so many other steps but I would say the very first one is

Putting your money and keeping it safe somewhere that you’re able to get paid a good interest rate yeah when I first learned about high yield savings accounts I thought it sounded like a scam I’m like wait why are they going to pay me like interest and this other big

Bank isn’t I don’t get it and right now some of them are paying like three four five% which is insane um so what is your favorite high yield savings account because I’m sure some people are sitting there like all right that seems like an easy First Step let’s do it yeah um my

Favorite high yield checking and savings account is through Sofi um the reason why they’re my favorite is because it’s not just high yield savings they actually do high yield checking as well so even money that’s just sitting around for one week waiting to be paid to your

Landlord or cover your Wi-Fi bill or buy your groceries you can earn interest on and I just think you should always be earning interest because your money has value you have value as a customer and you should be entitled to that interest I love that I didn’t even know they had

A checking account all right Vivian thank you so much for your time today I loved your book Rich AF and if somebody looking for you online where would they find you you can find me all across social media as your Rich BFF and if you are interested in checking out the book

And ordering your own copy you can head to Rich af. me awesome thank you so much today Vivien and we will talk to you soon thank you so much for having me okay that was Vivian 2 founder and CEO of your Rich BFF media and the host of

Networth and chill and that was a super fun interview Amanda what did you think of the show I loved it Vivian’s funny she is funny I feel like her personality just radiated through the microphone yes I love her take no prisoners attitude take no Guff from anybody she’s just going to tell you

Like it is and you know what that’s what I love most about the book and her podcast and just her social media presence she’s not fake she’s just here’s the reality of The Facts of money here you go here’s information for you and you can take that and apply it to

Your life I really really like her non-nonsense approach yeah and and I think that her name really encapsulates her way of educating too right your BFF like you feel like you’re FaceTiming with your BFF when you talk to her when you read her book like you feel it’s

It’s so digestible you feel like you’re talking with a friend and I think that makes the money lessons and the framework you know throughout the book that much more digestible yeah and she’s not lecturing you she’s just giving you information yep absolutely love it so you can find Vivien all over social

Media at your Rich BFF and don’t forget to go pick up a copy of her book that just came out called Rich AF all right that wraps up this episode of the Bigger Pockets money podcast Amanda if people were looking for you online where would they find you uh you

Can find me shewolf ofall street.com my website or my any social media platform shewolf of Wall Street and that’s wolf with an E all right that wraps up this episode of the Bigger Pockets money podcast she is the She Wolf of Wall Street Amanda wolf and I am Mindy Jensen saying take

Care teddy bear Bigger Pockets money was created by Mindy Jensen and Scott trench produced by kin Bennett editing by Exodus media copyrighting by Nate wiro lastly a big thank you to the Bigger Pockets team for making this show Possible N