Podcast Money Chill Out

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Episode #8: Financially planning for big events: studies and baby

Tessa is a bright woman with a lot of ambition. She works hard, puts in the effort and manages to achieve. From ESSEC, a top French Business School to Harvard in the US, she always eye for the top. But studies have a cost and she managed to have a big chunk of her MBA funded by merit based scholarships.  What’s great is that since living in the US, she has also learnt about raising funds for charities. She’ll share with us how she does it and what are her tips to be focused and achieve.  She is now about to welcome a baby boy, so let’s see how her financial planning is going on!

Key takeaways :

  • How to fund an MBA at Harvard
      • Calculated risk, $140k for 2 years of tuition fees
      • Lots of research to know about scholarships and financial aide:
      • Managed to get a big chunk fully funded by a merit-based scholarship
      • Borrowed the remaining portion, at low interest rates
  • How to achieve
      • Be as smart as possible: Get the most info possible
      • Get comfortable making a decision without having all the set of data
      • A lot of work, work ethic
      • Determination
  •  Financially planning for a baby
      •  in NY, employers do their own thing for family leave to attract talents
      • For Tessa, can take up to 12 weeks off, paid at 67%
      • Paternity leave: 2 weeks
      • Cost of living in NY compared to Paris (2 to 3 times more expensive without a baby!), so financial planning is key!

Episode #7: Money and divorce

Sometimes there are things in life that we didn’t plan, like divorce. At money chill out, we have no taboo speaking about money and it should be the case with whatever situation we are facing.  Our guest today, Anne, 33 and mum of Archibald is sharing her story of separation through the money lens. From the decision to split to the ups and downs of the legal process, the financial terms of the divorce, and the new life that she is willing to embrace, let’s embark on this discussion where openness and benevolence are prevailing. 

Key takeaways :

  • Divorce
    • Initiated it after 11 years. Unhappy, too much energy to make it work.
    • Personal and pro-life were mixed
    • Didn’t plan anything money-wise. Were about to open a restaurant together.
  • A 2-year process
    • Complexities as under French wedding law, but divorce under Portuguese court.
    • Hard time. Naïve about not having the dirty money conversation
    • Money is an easy subject to fight. But the dad of my child, so don’t want to hurt him
  •  Result
      • Trust saved them. Found a win-win agreement after a long negotiation. Happy ex-couple.
      • Found a balance: shared custody for their 4yr old child
      • When you give, you always get it back somehow and you can start living your new life and having exciting projects

Episode #6: Money and relationships

Today we gonna speak about Money and relationship!
Ever wondered how others do? Listen to this episode where Fadia gives us insight on how she does it! 
Lots of subjects to speak about, from her wedding law and heritage questions, to how money is split for the day-to-day spending and who does what for the Medium to Long term investments.
Great money and investment insights from a couple where there are no natural leaders.

Key takeaways :

  • Family set up
    • Wedding contract: separation of goods as entrepreneurs. Protection needed not to pass the debt to the family.
    • Day to day budget: Fadia was paying the mortgage, then equal split, then joint account, now more proportionally to what each earns
    • Tips for money within the couple: communication is KEY!
  • Who does what?
    • Her: real estate: used leverage as very low-interest rates
    • Him: financial products.
    • All decision and investments are shared and discussed
    • Both risk-takers
  •  Action plan to start investing:
      • Talk with friends and family to forge an opinion
      • confront a list of questions with professionals
      • listen to podcasts

Episode #5: Money in unplanned circumstances

Often, there are things you don’t control in life, like being made redundant. 

In this episode, we’ll speak about money when the near future is uncertain, but when opportunities are open and when a change is possible. 

Let’s see how Maud has managed from hearing the news, to make this period one of opportunities, and the new challenges she faces. 

Interesting story on a situation that happens way more than we think and when we need to truly let go! 

Key takeaways :

  • Being made redundant
    • Took it extremely personally
    • It hurts ego wise
    • Decent redundancy package
    • Then mentally shifted to a new world of opportunities to move on
  • What’s next for Maud?
    • Realized it’s important to bring money to her family
    • Became yoga teacher
      • expand outside of your inner circle: very hard
    • Looking for:
      • Flexibility
      • Having different activities as it’s nourishing and constructive
      • Opportunity to let go, get rid of the control you normally put in place
  • New challenges
    • What people would think about me: hard
    • Not comfortable with uncertainty: but needs to manage and live in the present moment
    • Not drawing conclusions too fast, give time to things

Episode #4: Money earned vs. money received and investments in Arts

Today we’ll dig into the consequences of being gifted money, the responsibility it implies, the choices made with it, and the differences compared to when we earn it in corporate life. Being with an art enthusiast, we have wisely used Maureen’s passion and knowledge to know more about this non-usual asset class!

Key takeaways :

  • Maureen money concepts:
    • Feel better if manage to put money aside
    • Don’t spend more money than you earn
    • Align your spending with an increased happiness
    • Be aware: speak to people, surround yourself with experts in their fields, read the newspaper
    • Listen carefully, ask questions, nourish yourself
  • Art is a passion
    • First step: Need to define what you like, don’t like. Then discuss the price.
  • To keep track of artists
    • Receive daily newsletter
    • Subscription to art magazines
    • Go to galleries and few necessary annual events
      • Art Basel, Art Basel Miami, Fiac Paris, Freeze London

Episode #3: Insight of a trader’s own money management

Ever wanted to know how a trader deals with her own money and what are her best practices? In just 30 minutes, we’ll get great insight into money management and discipline, equity investment, and how to be switched on in our world to know our worth. Don’t miss this rich and accessible discussion from someone in the industry, without forgetting some lightheartedness!

Key takeaways :

  • If you have a clear goal in mind, discipline is easier
  • Align spending to your important things in life
  • Invest in equities:
    • That talk to you, where you either like the story behind it or like the concept/vision and want them to grow
    • Undervalued stocks
    • To spread risk from real estate
  • In order to gain knowledge: 
    • Expose yourself to news in order to be switched on: Bloomberg TV, economist podcasts, seeking alpha blog
  • For salary awareness and negotiations: be aware of your industry, knowledge is power
    • Discuss and disclose salaries/bonuses to friends
    • Take headhunters calls, to have a market update of who’s looking and at what salary
  • Best tips:
    • Have a 3-month safety net as a cushion and peace of mind to cope for unexpected events and rainy days
    • Need control over finances: knowing your inflows and outflows removes pressure, and you can act to achieve your goals
    • Start investing small, get familiar, and learn through the process

Episode #2: Not depending on a paycheck through real estate investment

Want to be financially independent in your early 30s? This is possible! Listen to Vanessa’s story on how she massively saved while in the corporate world, to invest in real estate and solely rely on rent incomes. With this in place, she was able to take some risks, she launched her own start-up and became a trendy digital nomad. Don’t miss her great tips and her very inspiring story! 

Key takeaways :

  • Going from a financially comfortable corporate job to launching a start-up 
    • Impatient, wanted things to move more quickly
    • Don’t want anyone to decide on her career
  • Planning a change
    • Focused on her goal: saved a lot for 3 years to invest in a property and be financially independent. 
    • Had to stop traveling and spending 
    • Was easier than thought as it’s a step by step process and then you get used to it
  • Tips not to depend on a paycheck
    • Save, invest and diversify
  • risk management
    • Want to control risk, always imagine the worst-case scenario and if you can handle it
    • Need savings on the side to have peace of mind
    • No equity investment: need stability as way of life is riskier
  • Tips to invest in real estate
    • Buy a rundown house, that needs a lot of work in a promising neighborhood
    • Look at websites to see similar listings and have an idea of potential income
    • Contact the council to understand the law and what you’re allowed to do
    • Compare the ratio of investment vs. what you can expect as a return

Episode #1: Tracking, planning, and forecasting to go a long way in life!

In this episode, we’ll speak about tracking, planning, and forecasting with a finance director, Anne-Claire Aubert. She’ll tell us why it’s so important to be aware of what you have and spend, how you can track your finances and take actions on what you’ve discovered, how she has planned a move from Australia to Europe with no jobs and 2 kids, and the process she followed to buy a house. Lots of info and insight from a rational woman.

Key takeaways :

  • Tracking: 
    • Eye opener, use an app so that it gives you a report each month. Enables you to see where you spend without necessarily realizing it. Possibility to take actions as now you’re aware
  • Planning:
    • Planning a move is always risky but you need to mitigate it. 
    • Going from Australia to Europe, with no jobs and 2 kids, was fine as worst comes to the worst, there was a family house they could use, so no expenses except groceries, and summer holidays so kids not in school. 
  • Forecasting:
    • Thought process for buying a house: LT view, stop throwing money away through rent
    • First step: Meet with a broker, to have an idea of a budget. 
    • Don’t necessarily go to the maximum you can afford
    • Do worst-case scenario: what if one loses its job, or the two. 
  • Any advice for a house:
    • The sooner you can buy, do it

Pourquoi devriez-vous écouter? 

Parler d’argent est souvent taboo et les femmes ne prennent pas toujours le lead sur le sujet. Ayant passé 10 ans sur des trading floors à Londres, et étant souvent la seule femme, je souhaite aider à changer ce constat, et commencer par l’éducation. Developper sa connaissance des sujets d’argent est nécessaire pour planifier sa vie, ses projets et atteindre le graal du bien-être financier.

C’est une vraie libération et c’est dans ce contexte que je lance mon podcast Money Chill Out, pour vous aider a démystifier le monde intimidant de la finance, et avoir une discussion ouverte, bienveillante et franche. Donc parlons d’argent, d’état d’esprit, d’habitudes d’investissement et échangeons nos bonnes pratiques. Et rejoignez notre communauté pour être plus à l’aise, inspirée et autonome!

Rythme de publication :  toutes les deux semaines, le mercredi soir!

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