Latest / Parent's Talk with Francine Juhlin / Episode 16: Is Your Family’s Future Actually Secure_ The 4 Pillars You’re Missing

Transcript

Episode 16: Is Your Family’s Future Actually Secure_ The 4 Pillars You’re Missing · Parent's Talk with Francine Juhlin

0:00
Speaker 1: So the conversation you tend to avoid today could be
0:05
Speaker 1: the conversation that you are forced to deal with later on.
0:11
Speaker 1: So why not prepare it, get it over so you
0:16
Speaker 1: can leave peacefully because when life throws you a curve ball,
0:21
Speaker 1: you already have everything in place.
0:23
Speaker 2: You don't have to avoid the conversation.
0:27
Speaker 3: Everybody, welcome to Parents Talk, where we're going to have
0:30
Speaker 3: this great conversation today with my friend Leah Tran, and
0:35
Speaker 3: we're going to talk about the conversations around finances and
0:41
Speaker 3: making sure that you are having these right conversations with
0:47
Speaker 3: your kids so they grow up confident in their financial situation.
0:54
Speaker 3: So Leah, first tell everybody a little bit about yourself
0:59
Speaker 3: because Leah has an amazing story and I want to
1:03
Speaker 3: go all the way back to don't miss the boat
1:08
Speaker 3: because everybody needs to understand where you came from so
1:13
Speaker 3: they can appreciate where you are today.
1:16
Speaker 2: Well, it's a long journey.
1:18
Speaker 1: I have to say thank you so much for having
1:20
Speaker 1: me and share my story with your audience and the
1:23
Speaker 1: parents out there, because I also am a parent, but
1:28
Speaker 1: my child is a grown child now. And I'm happy that,
1:31
Speaker 1: you know, he has done well, but I wish I
1:34
Speaker 1: had this kind of information. 20 years earlier, 25 years earlier,
1:40
Speaker 1: I would have had a big, nice, fat account for
1:43
Speaker 1: my son right now. Not that I would tell him,
1:46
Speaker 1: but I could get access to it if I needed.
1:50
Speaker 1: But back to my story.
1:51
Speaker 2: Thank you, Francine.
1:52
Speaker 1: We've been friends for almost like, I think, a decade
1:56
Speaker 1: in Toastmasters.
1:57
Speaker 4: Pretty close, yes. Yeah, yeah.
1:58
Speaker 2: And I love how your personality is and your story.
2:02
Speaker 2: You're just amazing.
2:03
Speaker 1: But my story is a little different than most of
2:06
Speaker 1: the people here in America.
2:07
Speaker 2: A lot different.
2:15
Speaker 1: And not think about my shame, you know, my embarrassment.
2:19
Speaker 1: I came from a long line of poverty, not because
2:22
Speaker 1: we're lazy. We came to this country as refugee back
2:27
Speaker 1: in 1980, escaped out of Vietnam, communist. My dad built
2:31
Speaker 1: a boat for 502 people, just set sail in the dark, dangerous,
2:37
Speaker 1: where gunshot can readily received. But we made it out
2:42
Speaker 1: to the ocean, got four-time pirate raids, drifted, engine broke.
2:48
Speaker 1: So I have shared that in my story, in my book,
2:52
Speaker 1: in my memoir called I Did Not Miss the Boat,
2:55
Speaker 1: because evidently we didn't miss the boat. But getting on
2:59
Speaker 1: the boat is a story, and surviving on the boat
3:01
Speaker 1: is another story. And getting off the boat and surviving
3:05
Speaker 1: in America with different culture, language, No money, no friends,
3:12
Speaker 1: no relative, no support group. That is a whole hurdle
3:17
Speaker 1: of surviving. But nevertheless, we're thankful. We're grateful for the
3:22
Speaker 1: opportunity and for the freedom that we received.
3:26
Speaker 2: My parents were so glad that five of their.
3:29
Speaker 1: Children's able to get education because they never did. My
3:34
Speaker 1: dad barely passed third grade and my mom barely over
3:39
Speaker 1: fifth grade and they maneuver life and they did well
3:43
Speaker 1: in Vietnam until the communists came. So that is the
3:47
Speaker 1: first part of my story. And it was captured in
3:52
Speaker 1: my memoir. And that took me 40 years to carve
3:55
Speaker 1: out that story, that memoir, because I wasn't sure that
3:58
Speaker 1: I'm confident enough to tell the story, to write the story.
4:03
Speaker 1: So my readers can understand what I want to say, because,
4:08
Speaker 1: you know, sometimes you can write one thing and have
4:11
Speaker 1: people understand you or not. That's a different thing depending
4:14
Speaker 1: on how you tell the story. So Toastmaster taught me
4:18
Speaker 1: a lot of storytelling skills and during COVID, I took
4:22
Speaker 1: so many courses online, have so many coaches and mentor,
4:26
Speaker 1: and I was confident enough that doing lockdown and I say,
4:31
Speaker 1: this is it.
4:31
Speaker 2: This is my chance.
4:33
Speaker 1: God had given me this gift of time, uh, And
4:38
Speaker 1: it was dark.
4:39
Speaker 2: It was really hard to go back to those moments.
4:43
Speaker 1: To relive it so I can retell the story as
4:46
Speaker 1: accurately as.
4:48
Speaker 2: It was in my memory.
4:51
Speaker 1: And nevertheless, the story came out six months later and
4:55
Speaker 1: then I did keynotes. So I was telling more of
4:59
Speaker 1: the story. Every time you tell your story, I want
5:02
Speaker 1: you to know, the audience, if you have a story,
5:05
Speaker 1: if you're reflecting it, you start seeing something, but every
5:09
Speaker 1: time you're saying there's under layer that really trigger. And
5:14
Speaker 1: sometime it buries so deep that you don't even remember
5:17
Speaker 1: because a lot of time we have selective memory, right?
5:20
Speaker 1: We don't want to remember the trauma. So, but every
5:24
Speaker 1: time we say something, we just understand why. And I
5:30
Speaker 1: didn't understand why I was so timid to speaking in
5:33
Speaker 1: front of a crowd.
5:35
Speaker 2: And be intimidated by authority.
5:38
Speaker 1: But by the time I start writing, it really dawned
5:42
Speaker 1: on me that because I was trained. I mean, you
5:45
Speaker 1: can ask Francine. I'm a pretty yappy person. I mean,
5:49
Speaker 1: I would not stop talking. But back then, if I
5:52
Speaker 1: have to be in a room full of authority or
5:56
Speaker 1: older men, middle-aged men, somehow I would just clam up.
6:00
Speaker 2: And I was not having that confidence to speak up.
6:04
Speaker 1: And then I realized that it was because from the
6:07
Speaker 1: culture that I was brought up with, I was suppressed.
6:12
Speaker 1: My voice was suppressed for many years. And even coming
6:17
Speaker 1: to America after four decades, I finally get that confidence
6:21
Speaker 1: to say something in my book.
6:23
Speaker 2: I'm happy to say my book two is coming. My
6:26
Speaker 2: book two is coming.
6:27
Speaker 4: Now, I'd like to unpack that a little bit. Your culture...
6:33
Speaker 4: kept you timid. Is there anything.
6:39
Speaker 3: Specifically that someone said to you, or was it just
6:43
Speaker 3: a little bit of everything?
6:45
Speaker 1: Mostly, I think that was training from my own family.
6:50
Speaker 1: My dad was really disciplined and strict, and he's the
6:55
Speaker 1: king in the kingdom of his family. And I have
7:01
Speaker 1: seen how rebel, my brother was punished. So I've got
7:07
Speaker 1: like a secondhand smoke type of effect. And I've learned
7:12
Speaker 1: not to rebel. I learned to draw within the line.
7:16
Speaker 1: I learned to obey. So a lot of fear base,
7:21
Speaker 1: a lot of fear base. And you're confident to shrink
7:25
Speaker 1: when you don't have that courageously experiments of things.
7:31
Speaker 3: So. So it's just been a few short years since
7:35
Speaker 3: you have figured out what caused it and overcame it.
7:40
Speaker 3: So you say you have older children. So now I'm
7:46
Speaker 3: really curious how that dynamic has changed since you come
7:53
Speaker 3: out of your shell.
7:55
Speaker 1: Well, Luckily, when I came to America, I was a
7:59
Speaker 1: little bit older of the version of the teenager. So
8:02
Speaker 1: I absorb a lot of American culture. And then I
8:05
Speaker 1: surround myself with a lot of American friends and I
8:07
Speaker 1: watch how they raise their children and what kind of process.
8:12
Speaker 1: I'm still keeping some of my culture, right? Because believe
8:16
Speaker 1: it or not, the apples never fall far from the trees.
8:21
Speaker 1: So I still keep a lot of things that, you know,
8:23
Speaker 1: what my dad and my mom taught me, but then
8:26
Speaker 1: I open up a next step further that how I
8:29
Speaker 1: can raise my child in the environment that Americans taught him.
8:35
Speaker 2: He's 31 years old.
8:36
Speaker 1: Now, so he's a little older than most of the
8:39
Speaker 1: parents that are watching this episode, I suppose. So I
8:43
Speaker 1: let him make decisions on a certain thing, and I
8:46
Speaker 1: reason with him.
8:47
Speaker 2: I ask his opinion.
8:49
Speaker 1: I don't just say, just because I say so. And
8:52
Speaker 1: I never use that, just because I say so, because
8:56
Speaker 1: I will.
8:57
Speaker 2: Reason with him.
8:58
Speaker 1: I will let him rebuttal his opinions. And we debate
9:02
Speaker 1: and we will, you know, I will overrule if I
9:06
Speaker 1: don't see that is something fit with the way I
9:10
Speaker 1: want to teach him. But I do give him a
9:13
Speaker 1: lot of leeway and I do give him a lot
9:15
Speaker 1: of choices that he pick on his own. Like even
9:19
Speaker 1: the college that he wants to go to, the major
9:23
Speaker 1: that he wants to go to, even though I... I
9:26
Speaker 1: thought he was gifted a lot in different things, but
9:30
Speaker 1: I never thought of he would pick something out of
9:32
Speaker 1: a different thing.
9:34
Speaker 2: And all I can do is ask, are you sure?
9:36
Speaker 1: Are you sure that's what you want? Because when you
9:40
Speaker 1: are sure you're confident, give me the reason and I will.
9:43
Speaker 2: Back you up. But unless you give me the solid reason.
9:47
Speaker 2: So there's a lot, and I have him sign a
9:49
Speaker 2: contract just like, it's.
9:52
Speaker 4: A little bit too much.
9:53
Speaker 2: It's a little bit too much, but you know what?
9:55
Speaker 3: It isn't too much it isn't really uh even when
10:00
Speaker 3: i do my coaching we have little contracts and it's
10:05
Speaker 3: just a little piece of paper and it's it puts
10:09
Speaker 3: it in your brain better It validated.
10:12
Speaker 1: It actually made a commitment saying that, you know, you
10:17
Speaker 1: signed for this. You've got to honor your commitment because
10:20
Speaker 1: your signature is right here.
10:23
Speaker 4: It's a commitment.
10:23
Speaker 2: Not that I can take you to court or anything, but,
10:26
Speaker 2: you know.
10:28
Speaker 4: The court of Leah.
10:31
Speaker 2: And I always win.
10:34
Speaker 4: So now.
10:35
Speaker 3: Now that we know who you are and where you
10:38
Speaker 3: came from, today we want to talk about financial security. Right.
10:44
Speaker 4: How has that changed for you?
10:49
Speaker 2: Well, for instance, I wish I had.
10:52
Speaker 1: Known some of the information 20, 30 years ago. I
10:56
Speaker 1: would have prepared a lot different. And I think my
10:59
Speaker 1: financial security would be a lot more stable today, but
11:04
Speaker 1: you know what?
11:05
Speaker 2: It's never too late.
11:07
Speaker 1: I think that as long as you willing to have
11:09
Speaker 1: an open heart, open mind, when you learn something new
11:13
Speaker 1: and I'm that kind of person, I'm always curious and
11:16
Speaker 1: I'm always look for a way to, um, add value
11:21
Speaker 1: or be innovative. When I approach some of the problem
11:24
Speaker 1: that I think that, uh, a lack of that skill.
11:29
Speaker 2: So what I have learned is, so three years.
11:32
Speaker 1: Ago, 2023, after three years at my book launch and
11:37
Speaker 1: my career was looking up and I was become a
11:40
Speaker 1: keynote speaker. I also did my TEDx talk in 2019
11:45
Speaker 1: and I was on a way of coaching other people
11:49
Speaker 1: to do TEDx. And I was about to launch an
11:53
Speaker 1: online course, Because, you know, there's a lot of different
11:58
Speaker 1: ways to making business. And then on my husband's birthday, who,
12:02
Speaker 1: by the way, was really healthy.
12:04
Speaker 2: We eat clean. He exercised. He played tennis.
12:08
Speaker 1: Like nothing would think about the two word what ifs, right?
12:14
Speaker 1: And I want, if you're listening to the story right now,
12:19
Speaker 1: I would love you to kind of take a minute
12:21
Speaker 1: and pause and think when I'm telling you this. So
12:25
Speaker 1: many of us planning for everything that is upbeat, which
12:30
Speaker 1: is good. Like we're planning for vacation. We're planning for retirement.
12:34
Speaker 1: But how, you know, how do we going to approach
12:37
Speaker 1: that retirement in a solid way?
12:40
Speaker 2: We like to talk about positive things. I do too.
12:42
Speaker 1: Nobody want to talk about all the negative because in
12:45
Speaker 1: my culture, particularly, you're inviting bad luck if you're talking
12:49
Speaker 1: about negative. So of course, we don't have those conversations.
12:53
Speaker 1: But I want you to know, This is the statistic
12:57
Speaker 1: of United States. Every 40 seconds, there is a heart attack.
13:03
Speaker 1: There is a stroke. And one out of six people
13:08
Speaker 1: have some sort of cancer. And And this is not
13:13
Speaker 1: something we should take it lightly. And not to mention,
13:16
Speaker 1: you know, if you're unlucky, you get hit by a
13:19
Speaker 1: car accident or you fall down the ladder when you're
13:21
Speaker 1: cleaning your house. I don't want to bring these things up,
13:24
Speaker 1: but life do happen. And, you know, we got disrupted.
13:29
Speaker 1: We got disrupted more than we know, because look around you.
13:32
Speaker 2: There will be people.
13:34
Speaker 1: You know that out of a certain, you know, run
13:36
Speaker 1: a marathon and died of heart attack.
13:39
Speaker 2: I mean, this person is.
13:42
Speaker 2: Healthy and eat right. And who knows, right?
13:45
Speaker 1: We all have an invisible stamp on our forehead. We
13:48
Speaker 1: just don't know when we're going to be called back
13:51
Speaker 1: to the Lord, to the house of heaven. A lot
13:54
Speaker 1: of time things happen. And when things happen, it happens quick.
13:59
Speaker 1: And we don't think we need that kind of preparation
14:03
Speaker 1: until we do.
14:04
Speaker 2: And that could be too.
14:06
Speaker 1: Late because now we get stuck in a position that
14:09
Speaker 1: we don't have options.
14:11
Speaker 2: We don't have preparation in place. We are chaotic.
14:16
Speaker 1: We stress out, you know, when people get a heart
14:19
Speaker 1: attack or a stroke. And sometimes I would say 60%
14:22
Speaker 1: of those people survive.
14:24
Speaker 2: And it's great.
14:25
Speaker 1: But sometimes your bank account do not survive when you
14:29
Speaker 1: will survive. And then your spouse, your children will bear
14:34
Speaker 1: all those stress besides taking care of the patient, besides
14:39
Speaker 1: taking care of the daily activity. Now you have co-payment bill,
14:45
Speaker 1: healthcare bills that not paying fully 100%. I don't mean
14:48
Speaker 1: to overwhelm or fear the people who are listening right now,
14:52
Speaker 1: but this is the reality I faced three years ago
14:55
Speaker 1: when my husband in the hospital, because he had a
14:59
Speaker 1: stroke on his birthday. And as women, Francine, so many
15:03
Speaker 1: women of us, we are so good in taking care
15:06
Speaker 1: of people.
15:06
Speaker 2: We're so good at taking care of everything.
15:08
Speaker 1: But a lot of time I found out We are
15:11
Speaker 1: not very good with our numbers because we say our
15:14
Speaker 1: men is taking care of that. My husband is buying
15:18
Speaker 1: some protection plan. My CPA is taking care of it. And,
15:23
Speaker 1: you know, I'm not good with numbers. It's too complicated.
15:26
Speaker 1: And a lot of time we are the one who
15:28
Speaker 1: volunteer not to look at those numbers. And I advise you,
15:34
Speaker 1: even though you like it or you don't like it,
15:36
Speaker 1: you need to know. Because when your spouse is in
15:40
Speaker 1: that ER room, in that ER bed, they can't even
15:44
Speaker 1: answer their own names or birthday.
15:47
Speaker 2: You need to step up and take care of everything.
15:50
Speaker 1: And that was the place that I found the most
15:53
Speaker 1: chaotic in my life. On top of that, it brought
15:58
Speaker 1: me back to my dad. He had two strokes when
16:00
Speaker 1: he was 50. And all I could see on my
16:03
Speaker 1: husband's face was my dad's face and all the PTSD
16:08
Speaker 1: rushing back. And I was asking myself, do I know
16:12
Speaker 1: what paper, where, who to call? Does he have anything
16:17
Speaker 1: at work that's protecting him that we can claim from?
16:21
Speaker 1: What is long-term care? What's disabilities? And then the question
16:26
Speaker 1: just keep dropping and dropping and dropping. And that froze
16:31
Speaker 1: me for six months. I was in anxiety a lot
16:37
Speaker 1: of nights that I couldn't sleep. So luckily, God spares
16:42
Speaker 1: my husband, and he got out of the hospital a
16:46
Speaker 1: month later, and we saw the bills over half.
16:49
Speaker 2: A million dollars, and we still barely recover.
16:57
Speaker 1: And he stayed home for a few more months, got
17:01
Speaker 1: limited amount of physical therapy because healthcare only give you
17:06
Speaker 1: 26 of each one, PT and OT.
17:10
Speaker 2: And, you know, depending. And that's the rest of you.
17:13
Speaker 1: If you want more, you have to get out of
17:17
Speaker 1: your pocket. And in the meantime, every expense is up.
17:21
Speaker 1: When income stopped, You can see all the expenses rising.
17:25
Speaker 1: And that really brought me to the place that we
17:29
Speaker 1: have financial blind spots. Many of us do have financial
17:34
Speaker 1: blind spots.
17:35
Speaker 2: We think we have done a beautiful job saving, right?
17:39
Speaker 1: We have done a beautiful job saving for rainy days,
17:43
Speaker 1: hopefully tuck away something for retirement. But many people don't
17:48
Speaker 1: know if you are not protecting every dollar that you
17:51
Speaker 1: save or earn, that can be wiped out so fast
17:56
Speaker 1: due to one devastation of illness or something that devastating
18:01
Speaker 1: that you have not planned for. So I look into
18:05
Speaker 1: the protection policy for myself because I was still able
18:10
Speaker 1: to get one because I'm still healthy.
18:13
Speaker 2: Because once you have heart attacks.
18:15
Speaker 1: Stroke, cancer, organ transplant, any of those major illness, you're
18:20
Speaker 1: not qualified to get a policy anymore.
18:23
Speaker 2: In the course of the.
18:24
Speaker 1: Following months, after six months, I want to be the insider.
18:31
Speaker 1: Just like anything I learn, I want to learn for myself.
18:36
Speaker 1: So I took the license and I got my life license.
18:40
Speaker 1: So I want to know every itty bitty things for
18:46
Speaker 1: myself and for my family. And I'm proud to say
18:49
Speaker 1: that I have been learning for the last couple of years.
18:52
Speaker 1: And I help help a lot of younger family. If
18:56
Speaker 1: you're in your 30, 40 and have your young kids,
19:00
Speaker 1: just take a moment to think. Ask yourself a question.
19:05
Speaker 1: Is there a protection plan in place just in case
19:12
Speaker 1: you could not work for whatever reason? Six months, a year,
19:17
Speaker 1: is your family still be able to pay mortgages? It's
19:21
Speaker 1: your families to be able to survive, have food on
19:24
Speaker 1: the table, pay the kids' tuitions, maintain your lifestyle, pay
19:29
Speaker 1: for the car payment.
19:30
Speaker 2: You know, it's like it's so many things that we
19:32
Speaker 2: don't think.
19:33
Speaker 1: We protect everything else but our own lives, the people
19:37
Speaker 1: who actually make money to pay for all those stuff.
19:40
Speaker 4: We'll get a policy on our new refrigerator.
19:44
Speaker 3: In case exactly exactly we don't think about what happens
19:48
Speaker 3: if we can't make the payments on that refrigerator right.
19:53
Speaker 1: If you the engine you the you the operating system
19:57
Speaker 1: you're the brain of that computer if you're not protecting
20:02
Speaker 1: yourself first how are you going to take care of
20:05
Speaker 1: the rest of everything So it is a very sad
20:11
Speaker 1: fact that I found that American barely get $ 400 for
20:15
Speaker 1: an ER coverage.
20:17
Speaker 2: People barely have.
20:18
Speaker 1: Six months of expenses, emergency expenses. So what I look
20:26
Speaker 1: into is the protection plan that not only pay out
20:32
Speaker 1: when people pass, because that's a traditional type of, policy.
20:39
Speaker 2: But there are so many out there and I would
20:43
Speaker 2: love to.
20:44
Speaker 1: Share my knowledge if anyone would like to reach out.
20:50
Speaker 1: Because when your child is little and when you are young, it.
20:55
Speaker 2: Is very affordable.
20:56
Speaker 1: A cup of coffee a day can really buy you
20:59
Speaker 1: a bright future. that you don't have to worry just
21:03
Speaker 1: because if something happened, you can tap into that protection
21:07
Speaker 1: plan instead of draining your 401k or your house or
21:12
Speaker 1: your saving, because that is something you want to touch
21:16
Speaker 1: on for your rainy day. Now, if you have a
21:19
Speaker 1: young kid, instead of using that, not only protection, but
21:24
Speaker 1: you can have a place that you can store money
21:28
Speaker 1: and creating a a small individual private fund to use
21:36
Speaker 1: for your kids' college?
21:40
Speaker 4: There is, I.
21:43
Speaker 3: Believe it's the state of Florida or is it federal,
21:45
Speaker 3: there is a plan that parents pay into for the
21:50
Speaker 3: kids' tuition. But I believe the plan you're talking about
21:54
Speaker 3: through this Insurance policy is different.
21:58
Speaker 4: Can you explain that?
21:59
Speaker 2: Yes, yes.
22:00
Speaker 1: So most of the states in the country have plans
22:04
Speaker 1: called 529. And I'm not saying 529 is bad because
22:09
Speaker 1: you can save it before tax and you can save
22:11
Speaker 1: for your.
22:12
Speaker 2: Kids' tuition. But 529 is limited and is rigid.
22:19
Speaker 1: So you have a certain amount you can save in there.
22:23
Speaker 1: And the child probably have to go to a state
22:27
Speaker 1: school and you have to stay at the dorm.
22:30
Speaker 2: You have to get certain.
22:32
Speaker 1: Book, like, you know, it's within the education because it
22:35
Speaker 1: is creating for education.
22:37
Speaker 2: So that is what a lot of people know about.
22:42
Speaker 1: Now for the life policy, there's a lot of people
22:45
Speaker 1: don't know. You can create a life policy that if
22:49
Speaker 1: you fund it adequately, If you put in after-tax money
22:54
Speaker 1: and you fund the policy adequately, that policy have a
22:59
Speaker 1: potential to grow. And with that pot grow for 18,
23:05
Speaker 1: 20 years, you can make a loan against your own
23:10
Speaker 1: policy to pay for tuition or buying a car or
23:14
Speaker 1: buy a business for your child. It's no limited to
23:18
Speaker 1: only education. What if the child does not want to
23:20
Speaker 1: go to college and they want to open a shop
23:23
Speaker 1: or travel abroad for a study or something that's different
23:28
Speaker 1: than just, you know, limit to the 529 guideline.
23:32
Speaker 2: So there's options out there.
23:34
Speaker 4: And what if.
23:36
Speaker 1: You have a policy, not only do all of that,
23:39
Speaker 1: but something happened. I hate to say this, but I've
23:42
Speaker 1: seen two years old walk out of the checkup and
23:44
Speaker 1: get leukemia that rare disease, right? I mean, I don't
23:50
Speaker 1: wish for anybody, but there's a possibility of things that
23:54
Speaker 1: your child may need this policy that you don't even know,
23:57
Speaker 1: because for $ 50, $ 100, you might be able to have
24:00
Speaker 1: a million dollar policy.
24:02
Speaker 2: I don't know.
24:02
Speaker 1: I mean, every case is different, depending on your health,
24:06
Speaker 1: your age, your gender, but usually children, you know, are
24:10
Speaker 1: very inexpensive. So I would say that check in with
24:14
Speaker 1: somebody who's, you know, professional, guide you, or if you
24:19
Speaker 1: want to reach out, I'll be more than happy to
24:22
Speaker 1: just help you understand on the one-on-one. And, you know,
24:28
Speaker 1: I do a lot of workshop on the side to
24:30
Speaker 1: educate parents as well. And I think, you know, if
24:33
Speaker 1: people are having a retirement plan that they want to
24:36
Speaker 1: look for a different option, I can also help them
24:39
Speaker 1: on that. So being in the financial world was not
24:43
Speaker 1: something that I planned to do. And I never really, uh,
24:46
Speaker 1: have that on my resume as a dream, but somehow
24:52
Speaker 1: I get to this space because I think it is
24:55
Speaker 1: a need. So many people need to hear that kind
24:58
Speaker 1: of information and being a speaker, being hopefully a thought leader,
25:05
Speaker 1: I'd like to know whatever I learn, I should share it.
25:09
Speaker 1: I should not keep it for myself. And, um, And
25:13
Speaker 1: that's what I have been doing for the last couple
25:15
Speaker 1: of years, Francine. I've been like three years immersing in
25:19
Speaker 1: this financial preparation for not only for your children to
25:25
Speaker 1: adequately fund for their college and protect their lives. Same
25:30
Speaker 1: thing for family, small business owners that who want to
25:35
Speaker 1: take advantage of how to structure their tax to buy
25:38
Speaker 1: a policy for themselves. And for people who are in
25:43
Speaker 1: like the sunset horizon that did not want their 401k
25:47
Speaker 1: or their money to be risky in the market, I
25:51
Speaker 1: can find a place that, you know, pretty much secure
25:55
Speaker 1: that pot of money for retirement. So they never have
25:59
Speaker 1: to worry about if the market drop, if their money
26:01
Speaker 1: is going to be lost 20, 30%, because it take
26:04
Speaker 1: a long time to gain back whatever you lose in
26:07
Speaker 1: from the market. And we want to be a place that,
26:10
Speaker 1: you know, is lock in the gains, And it never
26:13
Speaker 1: dropped below what you put in.
26:16
Speaker 2: So that's the, that's the nice thing of it, right?
26:18
Speaker 1: There's so many options out there that you can play
26:22
Speaker 1: a little more risky. You don't, you know, but it
26:25
Speaker 1: doesn't matter what you will not go below the market
26:29
Speaker 1: if the market drops. So that's for some people that
26:32
Speaker 1: 50 some years old within five, 10 years of, of, uh, retirement.
26:37
Speaker 2: I think that is super, super important.
26:41
Speaker 1: And that does not have to require for a health
26:45
Speaker 1: to get that. For that type of product, you don't
26:50
Speaker 1: have to be healthy to get it. But it does
26:54
Speaker 1: have a factor in how to protect yourself if you
26:58
Speaker 1: are sick and you need to draw the money.
26:59
Speaker 2: So it's flexible. So I don't know, am I confusing
27:04
Speaker 2: or not?
27:04
Speaker 4: Well, there are so many options.
27:07
Speaker 3: So what I want to suggest, if you want to
27:09
Speaker 3: know more, because we could talk about this for days,
27:13
Speaker 3: but if you want to know more, I suggest you
27:16
Speaker 3: contact Leah at www.leatran.com, set up your appointment, and she
27:27
Speaker 3: could set out a plan with your specific needs in mind.
27:33
Speaker 3: Because there are so many little differences, whether you have
27:39
Speaker 3: young children, whether you're leaving a legacy for your adult children,
27:44
Speaker 3: whether you don't care about your children, you just want
27:47
Speaker 3: to spend all your money yourself.
27:49
Speaker 2: Grandparents can set up something as a gift for the grandchildren.
27:54
Speaker 4: That's right. So parents, you.
27:56
Speaker 2: Can off the hook.
27:57
Speaker 1: I mean, if your mom and dad, you know, want
28:00
Speaker 1: to contribute instead of buying toys, and then you're going
28:03
Speaker 1: to have to give it to Goodwills anyway.
28:06
Speaker 2: Except you get sparkle.
28:08
Speaker 1: Oh, right.
28:09
Speaker 4: Except sparkle feathers.
28:10
Speaker 2: Everybody needs a sparkle feather.
28:13
Speaker 1: Yes, I'm going to get a couple because it just
28:16
Speaker 1: tickles me and it makes me smile. But I am
28:19
Speaker 1: saying that if you want to contribute a legacy for
28:23
Speaker 1: something useful for your grandchildren, you can set up something,
28:27
Speaker 1: you know, either a one-time premium or spread it out
28:33
Speaker 1: once a year or twice a year, four times a
28:36
Speaker 1: year or monthly.
28:37
Speaker 2: That can be done.
28:38
Speaker 1: And also, Francine, I want to say when you were
28:42
Speaker 1: talking about it, I want to add in, and now
28:45
Speaker 1: I kind of lost my thought. There are so many
28:50
Speaker 1: people who might have a policy for so long ago
28:54
Speaker 1: and not review it, not updating it. And just like anything,
29:00
Speaker 1: your life changed. Your policy should be review every three
29:04
Speaker 1: to five years, especially if you have a major life experience,
29:09
Speaker 1: like if you get married or you have divorced and
29:13
Speaker 1: then you're remarried.
29:14
Speaker 4: Or you have a kid. Right.
29:17
Speaker 3: Your parents bought you a policy when you were young
29:20
Speaker 3: that took you all the way through college.
29:23
Speaker 4: Then you get married.
29:25
Speaker 3: It's time to review that and shift to the next level.
29:29
Speaker 4: And add on.
29:30
Speaker 2: And do you even know if that expired already? What type?
29:34
Speaker 1: A lot of people say, oh, I have some Gerber
29:36
Speaker 1: or something my mom bought for me.
29:40
Speaker 4: Is it cashable?
29:41
Speaker 2: Is it flexible? Is it touchable? Is it something that
29:44
Speaker 2: is still, you know, exercise? Who's still paying for it?
29:47
Speaker 1: Just go back and do an inventory about the documentary
29:54
Speaker 1: of your finance. Don't let that finance blind spot create
29:59
Speaker 1: stress for you.
30:00
Speaker 3: Everybody go through all of your records. Contact Leah and
30:06
Speaker 3: let her tell you what your next best step is.
30:11
Speaker 1: I would love to do a one-on-one and help you.
30:14
Speaker 1: I mean, there's no pressure. There's no sale. I'm here
30:17
Speaker 1: for information. And I'd love to, I mean, if you
30:20
Speaker 1: trust me enough, if you, if you want to do something,
30:23
Speaker 1: you know, I will give you all the different options
30:26
Speaker 1: and everybody's situation is different. So I cannot just say
30:30
Speaker 1: that one side will fit all. It's all depending on
30:32
Speaker 1: your history, your gender, your health background. And, you know,
30:37
Speaker 1: it's just so many variations in that. And just get educated.
30:42
Speaker 1: Just get educated.
30:43
Speaker 4: That's it.
30:44
Speaker 1: Don't go out and blindly buying something on the internet
30:48
Speaker 1: or not having a person to explain to you. And Francine,
30:52
Speaker 1: I want to say I'm not bashing anyone, but not
30:55
Speaker 1: every life agents know what they do, even though they
30:58
Speaker 1: have a license.
31:00
Speaker 2: And not everyone.
31:01
Speaker 1: Will care for you the way that some of them
31:05
Speaker 1: are in for a mission and some of them are
31:08
Speaker 1: in for a commission. So you have to distinguish that
31:12
Speaker 1: who actually care for you. But.
31:14
Speaker 2: First step is you have to.
31:16
Speaker 1: Care for yourself first because nobody can care for you
31:19
Speaker 1: the way you care for yourself. And that's why I
31:22
Speaker 1: put it in this shoes because I care for my
31:25
Speaker 1: own family's well-being. And I want to learn it. And
31:29
Speaker 1: I'm still learning because it is a little complicated. It's
31:33
Speaker 1: not too bad. But once you see it, you cannot
31:36
Speaker 1: unsee it. And just the question is, do you wanna
31:39
Speaker 1: see it? Do you wanna see that financial blind spot
31:42
Speaker 1: that so many of us missing? And so many people,
31:47
Speaker 1: it breaks my heart when I see a GoFundMe because
31:52
Speaker 1: I wanna say this is not, that is not a
31:55
Speaker 1: financial planning.
31:57
Speaker 2: GoFundMe is something near and dear.
32:01
Speaker 1: I have contributed to a lot of friends and I'm
32:04
Speaker 1: not saying, you know, anything bad about it. But if
32:08
Speaker 1: you have a good plan in place, you don't have
32:11
Speaker 1: to scramble. And maybe, I don't know how many percent
32:14
Speaker 1: of the people who do GoFundMe actually got 100% of
32:18
Speaker 1: what they want. And it's just heartbreaking because now you
32:21
Speaker 1: can't focusing on recovery because you got financial burden. So Francine,
32:30
Speaker 1: thank you so much. This is what I love to do.
32:33
Speaker 1: And I have walked away from being a speakers and
32:36
Speaker 1: I'm still doing that, but I'm more of an advocate
32:39
Speaker 1: because now I'm seeing that beyond speaking, I have a
32:43
Speaker 1: solution for people to look at the practical things that
32:48
Speaker 1: matters to their future and their legacies and everything that
32:54
Speaker 1: we work so hard for.
32:56
Speaker 3: Okay, everybody, this is the end of this episode. And
33:02
Speaker 3: if you have any questions, please put them in the
33:05
Speaker 3: comments and we'll bring Leah back to answer your questions.
33:10
Speaker 3: Because like we said, there's no one plan that we
33:15
Speaker 3: could lay out. But if we know what your circumstances
33:20
Speaker 3: are and you have a question, we could definitely answer
33:25
Speaker 3: for you. Or better yet, get that one-on-one appointment with Leah.
33:31
Speaker 1: I'd love to set up my one-on-one because sometimes financial
33:35
Speaker 1: can be private and that's why a lot of women,
33:38
Speaker 1: people not comfortable talk about it because it is, um,
33:43
Speaker 1: a little bit of a privacy, right?
33:45
Speaker 2: So, um, so yeah, I, there's no judging.
33:49
Speaker 1: I mean, we all, we all have our own, um,
33:54
Speaker 1: whatever that we need to ask and we're not comfortable
33:58
Speaker 1: asking in front of other people.
34:01
Speaker 2: And I totally understand that.
34:02
Speaker 1: So, um, I'll be more than happy to do a
34:05
Speaker 1: one-on-one consultation or review if you have a policy. Anything
34:10
Speaker 1: you don't understand because not everything created equal. Even they
34:15
Speaker 1: call that the same name, it might not cover the
34:19
Speaker 1: same thing. It might have extra for certain underwriting. So
34:24
Speaker 1: I want you to understand that look for living benefits
34:29
Speaker 1: in a policy, but not all living benefits matter.
34:33
Speaker 2: Are the same because.
34:34
Speaker 1: Some have terminal only and some have chronic illness and
34:38
Speaker 1: critical illness.
34:39
Speaker 4: You're confusing everybody.
34:41
Speaker 3: I know.
34:41
Speaker 4: Yeah, now I'm confused.
34:42
Speaker 2: I'm going too into that.
34:43
Speaker 3: If you didn't understand that, make your appointment with Leah
34:48
Speaker 3: and get a one-on-one appointment and let her explain exactly
34:54
Speaker 3: what that means.
34:56
Speaker 4: Okay, everybody.
34:56
Speaker 2: I'd be more than happy to. Thank you, Francine.
34:59
Speaker 1: Bye.
35:00
Speaker 4: That was a great episode.