Latest / Life, Finance, & Real Estate with KirbyTheRealtor / Episode 20 | Understanding Life Transitions & Financially Preparing for Them with Trevor Taylor, CFO of SEMRHI

Transcript

Episode 20 | Understanding Life Transitions & Financially Preparing for Them with Trevor Taylor, CFO of SEMRHI · Life, Finance, & Real Estate with KirbyTheRealtor

• 0:00
  SPEAKER_00: Welcome to life.
• 0:02
  SPEAKER_00: Fine in real estate.
• 0:08
  SPEAKER_00: Everything in the real estate market, and of course, things going on in life.
• 1:31
  SPEAKER_04: Hey family.
• 1:32
  SPEAKER_04: Welcome back to another episode of Life Finance and Real Estate with your girl, Kirby the Realtor.
• 1:38
  SPEAKER_04: So first and foremost, I want to thank you.
• 1:40
  SPEAKER_04: I want to thank every single listener that's been rocking with me since day one.
• 1:44
  SPEAKER_04: And to everyone listening today, and if it's your first time joining, welcome to the family.
• 1:50
  SPEAKER_04: This show was created because life is real, and sometimes people need honest conversations, not just love.
• 1:56
  SPEAKER_04: We talk about life, we talk about finances, we talk about real estate, but most importantly, we talk about becoming whole, prepared, and intentional in every area of life.
• 2:08
  SPEAKER_04: Because guess what?
• 2:09
  SPEAKER_04: I don't just talk about real estate.
• 2:11
  SPEAKER_04: I teach you how to become the person who can sustain it, who can keep it.
• 2:16
  SPEAKER_04: And that one thing I want you to remember that on this show, we're going to remain honest, honest with who you speak with, and honest with the person that you look and see in the mirror every day.
• 2:29
  SPEAKER_04: Because honest creates awareness.
• 2:31
  SPEAKER_04: And when you become aware, you're able to change.
• 2:34
  SPEAKER_04: Now, family, last week on um episode 19, we had Pastor Jay with us.
• 2:41
  SPEAKER_04: He's the author of the book called Uh Under Construction, God Is Not Finished Yet.
• 2:46
  SPEAKER_04: And that conversation blessed a lot of people.
• 2:48
  SPEAKER_04: I got a lot of inboxes, text messages, and phone calls because I came to realize that there's a lot of frustrated people here in life, just like someone listening today may be frustrated, not realizing that God is still building you, He's still preparing you.
• 3:04
  SPEAKER_04: And some of us have been looking, I can tell you, for me, I've been looking at life like, what the heck is happening over the last year?
• 3:12
  SPEAKER_04: You know, there's a lot of pressure, and I felt like I was being punished and trying to recap life to see, you know, have I done something wrong.
• 3:20
  SPEAKER_04: But I believe that based on Pastor Jester's book as well and what the word tells us, it was just really preparation, God preparing us for something greater.
• 3:29
  SPEAKER_04: Some people feel like they're behind, they feel overlooked, they feel tired, and they feel like life hasn't turned out the way they imagined.
• 3:37
  SPEAKER_04: But Pastor J, he reminded us that God is not finished yet.
• 3:41
  SPEAKER_04: And honestly, that message flows very perfectly into tonight's conversation because guess what?
• 3:48
  SPEAKER_04: One thing about life is that it will transition.
• 3:52
  SPEAKER_04: Life changes, your role in life changes, your responsibility changes, our finance changes, relationship change, career change.
• 4:01
  SPEAKER_04: And if we are not careful, those transitions can either build us or break us financially and emotionally.
• 4:08
  SPEAKER_04: Which is why tonight's conversation is so important.
• 4:12
  SPEAKER_04: Tonight we're going to talk about understanding life transitions and financially planning for those transitions and family.
• 4:19
  SPEAKER_04: This isn't just about you budgeting.
• 4:22
  SPEAKER_04: This isn't just about numbers.
• 4:24
  SPEAKER_04: It is about understanding how shifts affect us emotionally, mentally, spiritually, and financially.
• 4:31
  SPEAKER_04: So tonight I am excited to welcome our special guest, the one and only, Mr.
• 4:37
  SPEAKER_04: Trevor Taylor.
• 4:38
  SPEAKER_04: I give you a little bit of history on him and I'll let him um give you some more.
• 4:42
  SPEAKER_04: But I know him as the CFO of Simurai, a father of two, and someone who understands both the professional and the personal side of financial planning and navigating transition in life.
• 4:55
  SPEAKER_04: Trevor, thank you so much for being here tonight.
• 4:59
  SPEAKER_01: No problem.
• 5:00
  SPEAKER_01: Thank you for having me.
• 5:02
  SPEAKER_04: Good, good.
• 5:03
  SPEAKER_04: You want to tell them a little bit about yourself?
• 5:06
  SPEAKER_01: Uh sure.
• 5:08
  SPEAKER_01: So um, as Kirby mentioned, I am a CFO at Simrae in Hattiesburg, Mississippi.
• 5:14
  SPEAKER_01: Uh originally born and raised in Miami, Florida.
• 5:17
  SPEAKER_01: Graduated high school there, went off to college, um, got my degree in accounting, and uh moved to the state of Alabama, and then following that came to Hattiesburg, Mississippi, all still within the South.
• 5:32
  SPEAKER_01: But uh of course, through that transition, many people say, Well, how do you leave Miami and go to Alabama?
• 5:39
  SPEAKER_01: Alabama to Hattiesburg.
• 5:41
  SPEAKER_01: Uh, and it's just, you know, one of those things that's a part of life and things that we just kind of gotta embody and kind of go with it.
• 5:48
  SPEAKER_01: So that's a little bit about me.
• 5:51
  SPEAKER_04: Well, I appreciate that little history there.
• 5:54
  SPEAKER_04: Um, but hey, let's start here.
• 5:56
  SPEAKER_04: Let's let's start here today.
• 5:58
  SPEAKER_04: When you hear the phrase life transition, what does that personally mean to you?
• 6:05
  SPEAKER_04: Life transitions.
• 6:08
  SPEAKER_01: Uh to me, that personally means from going from one place to another, whether that be physically, whether that be mentally, whether that be spiritually, it it it life transition is just going from one place in your life to another place.
• 6:29
  SPEAKER_04: Okay.
• 6:30
  SPEAKER_04: So why do you think so many people struggle um financially during those major life transitions?
• 6:39
  SPEAKER_01: Well, I think that one of the biggest struggles is prior to the actual transition.
• 6:46
  SPEAKER_01: Of course, with transitions, those can be those can go either way um and can go at any trajectory because sometimes you may see it coming or you may have time to plan for it, and then sometimes you may not have time to play for uh plan for it.
• 7:01
  SPEAKER_01: It might kind of go pretty fast, but I think that the the main focus is prior to that transition.
• 7:09
  SPEAKER_01: Um initially, I just think that what we struggle with is just being prepared for life in general.
• 7:17
  SPEAKER_01: Um, and I'll speak from a financial standpoint.
• 7:19
  SPEAKER_01: I would say that one of one of the basic necessities that is missed, or you know, that we don't pretty pretty much put a lot of focus on is savings.
• 7:30
  SPEAKER_01: And of course, with when you when you save, you you at least done one of the first steps that prepare you to transition.
• 7:42
  SPEAKER_04: That's something to think about.
• 7:44
  SPEAKER_04: Um, do you think people are financially reacting to life or intentionally preparing for life?
• 7:53
  SPEAKER_01: Um, I would say you you have some people who is doing one and some people who's doing the other.
• 8:01
  SPEAKER_01: Uh a lot of times people seem to base their level of success on how they can operate in one or the other.
• 8:13
  SPEAKER_01: Um, I think that somebody, somebody who's making six figures a year compared to somebody who's making$10 an hour can be just as financially as inclined as the person that's making six figures.
• 8:26
  SPEAKER_01: I think it's um focus, I think it's key to focus on where you are, the money that you are making, and then being responsible in every aspect of it.
• 8:37
  SPEAKER_01: Being responsible and how you spend, being responsible in your necessities, being responsible in taking care of your bills.
• 8:46
  SPEAKER_01: Um, of course, we hear all the time, you know, people you know have this mindset of keeping up with the Joneses.
• 8:52
  SPEAKER_01: And yes, you know, that do make a difference, and you do kind of run into that.
• 8:57
  SPEAKER_01: But I think if we get that knowledge and we have that understanding to operate in the position that we are in currently and kind of build from that, I think that you know that makes a world of a difference.
• 9:09
  SPEAKER_04: So let's let me get a little personal here.
• 9:12
  SPEAKER_04: Let me ask you this because I know you you moved here last year, right?
• 9:16
  SPEAKER_04: And you had to relocate and you know, get your foot in here, get somewhere to stay and get acclimated to the area.
• 9:25
  SPEAKER_04: How do you feel like, if it's not too personal, but do you feel like you were financially prepared for that move, even if I'm not sure if they helped, you know, with the moving expenses, but do you feel like you were financially prepared um for that move or yeah, let me in the the unique part about my transition, um, I knew I was transitioning for for work.
• 9:50
  SPEAKER_01: I didn't know where it was going to be.
• 9:52
  SPEAKER_01: I actually thought that I was going to end up in Washington, D.C.
• 9:57
  SPEAKER_01: Um, you know, but God had different plans for me in my life.
• 10:00
  SPEAKER_01: And, you know, Hattiesburg, Mississippi was what a part of that plan and what brought me here.
• 10:06
  SPEAKER_01: Uh, but where I was from a financial standpoint, and this is just me personally, I like to, and and this is this is no no, you know, pat on the back or no gloating or anything like that, but I like to keep at minimum ten thousand dollars in my savings account.
• 10:25
  SPEAKER_01: And I think that that is very important because at one point in time in my life, I didn't know what it was to save.
• 10:32
  SPEAKER_01: And um, you know, I got older, I got mature, I started making more money, and I knew the importance of it.
• 10:38
  SPEAKER_01: So at that time when I when I did get that call and I got the opportunity to come here to be the CFO, I I was financially uh ready and prepared to do that.
• 10:50
  SPEAKER_01: And and I'm not saying that everybody got to keep$10,000 in their savings, uh, but I think that if you understand where you are in life and you understand you know what what you have as far as you know your expenses or what's going out and what's coming in, I like to give the recommendation to people or um individuals that I come in contact with of at least having double of that.
• 11:14
  SPEAKER_01: And my concept or my mindset behind that is if you're transitioning, if you're moving or if you're going somewhere, typically if you move into an apartment, they expect you to have a deposit and first month's rent or first month's rent and last month's rent.
• 11:30
  SPEAKER_01: Um, you know, something to that extent.
• 11:31
  SPEAKER_01: So just having that kind of mindset to understand, okay, if I can set an amount, or I see that, hey, I spent a thousand dollars on rent itself per month, at least let me have two thousand dollars in my savings.
• 11:46
  SPEAKER_01: Because even outside of transitioning, if if if an emerging emergency comes up, you know that at least for two months, 60 days roughly, you would be able to pay your rent where you'll be able to continue to have somewhere to live.
• 12:01
  SPEAKER_01: So I think that that is really, really important.
• 12:04
  SPEAKER_04: I like that.
• 12:05
  SPEAKER_04: We we talk about that a lot on this show.
• 12:08
  SPEAKER_04: We call it our you know, our financial chassis.
• 12:11
  SPEAKER_04: Um, we talk about just saving, even if they have to, you know, start small if you're not used to saving$10 a week, or even, I mean, if they have to do$5 a week, start there.
• 12:22
  SPEAKER_04: So I like that you said you had you have that nest egg because I don't think people know how important it is to set aside that for those, that emergency fund or whatever you want to call it.
• 12:33
  SPEAKER_04: Um I like that.
• 12:35
  SPEAKER_04: It's good planning.
• 12:36
  SPEAKER_04: And uh I wish I hadn't known that early on in life, you know.
• 12:41
  SPEAKER_04: I tell people all the time, well, that's why it's called life finance and real estate.
• 12:45
  SPEAKER_04: I'm not perfect by any means.
• 12:47
  SPEAKER_04: I just want to share, you know, my journey and help cut learning curves and what you just did is that I I like that.
• 12:54
  SPEAKER_04: I enjoyed, enjoyed it.
• 12:56
  SPEAKER_04: Um, what advice would you give someone who feels overwhelmed financially right now?
• 13:03
  SPEAKER_04: Um because a lot of times, you know, you can be making money.
• 13:07
  SPEAKER_04: People say, oh, you're always busy, you see that money coming in, you're making a lot of money, but they still feel overwhelmed financially.
• 13:16
  SPEAKER_01: Um the advice I would give to somebody who might be feeling financially overwhelmed right now is would be to really just pause.
• 13:27
  SPEAKER_01: Um, I think that in life we can get so caught up in making money.
• 13:33
  SPEAKER_01: I think sometimes in life, we can get so caught up in the amount of money we make, whether it's a lot or whether it's you know a little, just kind of depends on what our occupation is.
• 13:44
  SPEAKER_01: But I I would I would recommend just pausing.
• 13:47
  SPEAKER_01: And in that pause, the first thing, the first thing I would tell that person to do is not look at the finances, but do a self-reflection.
• 13:57
  SPEAKER_01: Because there could be something you're not doing enough of, or there could be something that you're doing too much of.
• 14:04
  SPEAKER_01: And I think in that self, I think in that self-reflection process, you if you truly be truthful to yourself and truly evaluate yourself, you'll be able to pick out and see some of those things that you maybe should be doing less of or more of.
• 14:21
  SPEAKER_01: Um, one of the one of the main things that usually come up that people kind of run into is they first thing they say is I probably should be saving more.
• 14:29
  SPEAKER_01: Um, one of the top things that people say that they should be doing less is is, you know, maybe I should be spending less in reference to eating out during the week or, you know, any any special habits that people may have.
• 14:43
  SPEAKER_01: So I think that that would be really my recommendation to that person.
• 14:47
  SPEAKER_01: Like really pause and instead of looking at the finances, do a true self-reflection on yourself and and really be honest with yourself and see what you can do to change to change the trajectory of where you are.
• 15:00
  SPEAKER_04: I like I like how you're flowing here, Trevor.
• 15:03
  SPEAKER_04: Um, and I'm I'm known to go off script.
• 15:06
  SPEAKER_04: So, you know, if you want to just take it, because I know these this is your topic here, this is your lane, but if you you want to just share some things, some insight with us, we we can go there.
• 15:16
  SPEAKER_04: We we're talking about life transition and finances, so um yeah.
• 15:23
  SPEAKER_01: I and I I don't mind doing that.
• 15:25
  SPEAKER_01: Um for me, you know, like I was saying earlier, at one point in time in my life, I I wasn't saving.
• 15:31
  SPEAKER_01: Um and for me, I graduated.
• 15:36
  SPEAKER_01: Uh I've always liked numbers.
• 15:38
  SPEAKER_01: I I thought I was gonna be a math teacher.
• 15:40
  SPEAKER_01: I graduated college with my degree in accounting, and I just always loved, I always loved numbers.
• 15:46
  SPEAKER_01: Um and I tell people to this day, I get up and I go to work every day because I love, I truly, truly love what I do.
• 15:54
  SPEAKER_01: And I think that makes a difference in the production and what we get out of what we do for work.
• 15:59
  SPEAKER_01: And that could be any occupation.
• 16:01
  SPEAKER_01: But as an accountant, on top of me loving numbers, I understand money, I understand finances, and I understand that really that what drives everything.
• 16:12
  SPEAKER_01: Typically at work um and during orientation, when we have new employees come in, I tell them, and and I and I apply the same thing to life it don't matter what you do, it don't matter what title you have, it doesn't matter, you know, what where you are in the organization in life, everything always leads back to the finances.
• 16:32
  SPEAKER_01: And I tell them that I have a financial responsibility for this organization to make sure decisions are being made correctly.
• 16:40
  SPEAKER_01: And I apply that same thing to my personal life.
• 16:43
  SPEAKER_01: It doesn't matter, it don't matter how many bills you got, it don't matter how much money you make, it don't matter what you got going on.
• 16:49
  SPEAKER_01: At the end of the day, everything is always going to tie back to the finances, and you want to be in a position where you can sustain, you can still have your needs and be able to get your wants, but still understand your responsibilities.
• 17:06
  SPEAKER_01: Um, and for me, I I think that that is very, very vital.
• 17:10
  SPEAKER_01: I know that um I've been I've been doing this, I've been doing this uh accounting thing now going on 19 years.
• 17:17
  SPEAKER_01: I had the opportunity to come straight out of college, uh, straight out of college and you know, start and start with my first accounting job.
• 17:26
  SPEAKER_01: Um, and I I I truly had I truly had a lot of different experiences through that time.
• 17:33
  SPEAKER_01: Um I want to talk about because I think that there's a misconception when it comes to financials or when it comes to the money you make.
• 17:44
  SPEAKER_01: And uh I simply put it like this people feel that people feel that because you make a lot of money that you can't live paycheck to paycheck.
• 17:55
  SPEAKER_01: And that right there, that right there, that right there is something that I think is very, very important because you can make, let's say,$20,000 a month and only have$10,000 in expenses, but still live paycheck to paycheck.
• 18:14
  SPEAKER_01: And one may say, well, how is that possible?
• 18:17
  SPEAKER_01: You'll you you got more coming in than what you got coming out.
• 18:20
  SPEAKER_01: But what you do have coming in is it's taking care of what needs to go out, but at the same time, you have some horrible spending habits, or you you you just kind of you know free willy-nilly with what you're going to buy to support, you know, the wants that you have in life.
• 18:37
  SPEAKER_01: And it's absolutely nothing wrong with that because I truly believe that, hey, you work hard, you play hard, right?
• 18:46
  SPEAKER_01: But in that, how do we be financially responsible?
• 18:50
  SPEAKER_01: How do we really set ourselves up for the next level?
• 18:54
  SPEAKER_01: And I think that as we understand, like, hey, listen, I need to make money to be able to take care of my expenses, but at the same time, I need to save, I need to be able to put back, I need to have this just in case an emergency or just be just in case a rainy day.
• 19:12
  SPEAKER_01: And I think those are some of the things that we really, really don't think of, especially not in the moment, because it's like, hey, some people, you know, is bold enough to say that that'll never be me.
• 19:24
  SPEAKER_01: That'll never be me.
• 19:25
  SPEAKER_01: But really, you know, in life, you you don't know what will be you unless until it's at your front door.
• 19:31
  SPEAKER_01: So um, you know, it it I really uh encourage people to like understand, like, hey, listen, you may not want to, and you might want to take a trip every weekend, or you might want to, you know, go and do this or go and do that, but hey, listen, let's be a little financial responsible, let's be financially responsible and let's let's put something to the side.
• 19:54
  SPEAKER_01: Let's let's have something for a rainy day because it you don't want to be in the position where you do have something come up and you can't you can't really you know do anything about it.
• 20:06
  SPEAKER_04: So, Terra, question for you.
• 20:09
  SPEAKER_01: Uh-huh.
• 20:10
  SPEAKER_04: So you mentioned how, you know, like I'm an entrepreneur, and I remember a time where I may have been making 20, 30 a month, and then I'm like, where's my money?
• 20:21
  SPEAKER_04: And I have people all the time say, Well, how did you start saving?
• 20:26
  SPEAKER_04: Like, I I want to save, but I have this going on, I got that going on, I got this kid and this and that.
• 20:32
  SPEAKER_04: How did it become a habit?
• 20:34
  SPEAKER_04: Because I know that you're a father as well, and your kids are in activities and you know, different things like that, but how do you discipline yourself enough or to where you can save?
• 20:47
  SPEAKER_01: Um, I I would think if I'm being honest, I would I would go back to what you stated earlier in reference to starting off small, because really the hardest part about saving is not actually saving, it's about being consistent.
• 21:04
  SPEAKER_01: And I think that once we master that, once we master that consistency, then we can build upon that because now the foundation is set and you understand and you're doing it effortlessly every pay period or or every certain date of the month, I'm going to put this amount of money to the side.
• 21:25
  SPEAKER_01: And it's like you getting you getting that habit, you get in that routine, and it's like you don't miss it.
• 21:31
  SPEAKER_01: And as you do$5 for three months,$10 for three months,$20 for three months, before you know it, you're gradually, gradually grinding and piling up that money.
• 21:43
  SPEAKER_01: And now you find yourself where you're saving$2,000 uh you know a month,$5,000 a month.
• 21:51
  SPEAKER_01: And now you're to the point where you your your your your reserves or your backup or your emergency funds is is built up.
• 22:00
  SPEAKER_01: Um, the concept that I use, the concept that I use, um that I use and that I apply to my personal finances is so currently I get paid bi-weekly.
• 22:13
  SPEAKER_01: I have already through my, you know, through the few years that I've been doing this now, I have already a set amount that I know that I'm going to save.
• 22:24
  SPEAKER_01: And of course, your expenses and all of that is it definitely makes a difference in this.
• 22:30
  SPEAKER_01: But um, if you're honest with yourself and you say no matter what, you're going to do that, it'll really make you think twice about the some of the decisions that you make.
• 22:40
  SPEAKER_01: But basically, what I do, I get paid bi-weekly.
• 22:43
  SPEAKER_01: And what I do is as I get paid, so let's say that I'm getting paid for the first time in two weeks.
• 22:50
  SPEAKER_01: When that two-week pay period comes, I'm gonna go ahead and take care of my bills, take care of my expenses that I need, and whatever the overage is, whatever the overage is, I say, okay, of that, of that, I'm going to take 50% of it, and that's what I'm going to save.
• 23:11
  SPEAKER_01: So then what I do is, because at this point I've taken care of all of my necessities, what I do, let's say that I'm gonna save 10,000 is what I'm saying.
• 23:22
  SPEAKER_01: I'm gonna take 50% up, so that means I'm gonna save 5,000.
• 23:25
  SPEAKER_01: So I'm gonna leave 5,000 in my check-in, and I'm gonna put 5,000 in my savings.
• 23:31
  SPEAKER_01: And what I do is that 5,000 is going to that 5,000 is going to be in place for things that may come up.
• 23:40
  SPEAKER_01: You know, if I want to go and have lunch, or if, you know, my kids are in sports extracurricular activity and they need to pay some dues and some fees and so forth and so on, right?
• 23:50
  SPEAKER_01: So let's say I put back the 5,000 that's in the savings.
• 23:54
  SPEAKER_01: I've done my savings for that pay period.
• 23:57
  SPEAKER_01: And let's say out of that remaining$5,000 that was in my checkings, let's say that I spent$2,500 of it.
• 24:06
  SPEAKER_01: So now I have that$2,500 left in there that I didn't do.
• 24:13
  SPEAKER_01: Now I spent that$2,500 over a time period of two weeks, right?
• 24:18
  SPEAKER_01: So now I'm back in the same concept, I'm back in the same uh predicament.
• 24:23
  SPEAKER_01: I'm gonna save 50% of the$10,000.
• 24:27
  SPEAKER_01: So I'm gonna put back my$5,000 and I have the same$5,000 overage.
• 24:33
  SPEAKER_01: But instead of keeping just that$5,000 and overage, what I'm going to do is I'm gonna maximize my savings.
• 24:42
  SPEAKER_01: So I'm gonna take the$2,500 from the previous pay cycle that I didn't use and said, okay, I survived two weeks off of$2,500.
• 24:54
  SPEAKER_01: So I'm going to take$2,500 of the$5,000 now and put back an additional$5,000.
• 25:02
  SPEAKER_01: And just in that month, I've maximized my savings by doing that concept.
• 25:09
  SPEAKER_01: It works for some people, it may not work for some people, but that is something that I apply to my personal life.
• 25:17
  SPEAKER_01: And when I say I seen the difference in my savings instantly, it really, really made the world of a difference.
• 25:26
  SPEAKER_04: That's some strong savings right there, sir.
• 25:31
  SPEAKER_04: Let's switch it up a little bit.
• 25:33
  SPEAKER_04: So as a father, what financial lessons are most important for you to teach your children uh about finances?
• 25:41
  SPEAKER_04: Like what financial lessons are most important to teach your children?
• 25:45
  SPEAKER_01: Oh man, this is a good one because um when I was coming up, when I was coming up, you know, we really didn't get taught.
• 25:55
  SPEAKER_01: Well, I'm gonna put it like this my dad always taught us to save, but we really didn't get we did really didn't get taught what to really do from a financial standpoint or how to like truly, truly be financially responsible.
• 26:08
  SPEAKER_01: So for me, one of the first things is to teach my kids to be financially responsible.
• 26:14
  SPEAKER_01: Even now, you know, you know, if if I I was telling a friend of mine's this uh the other day that if I look back, if I could put my kids back in time when I was coming up, my kids would be considered the rich kids.
• 26:32
  SPEAKER_01: But nonetheless, um I I am in a position where I'm blessed and my kids can have all their needs and all their wants, but I do teach them to be financially responsible.
• 26:44
  SPEAKER_01: Also teach them that they have to work for the things that they want.
• 26:47
  SPEAKER_01: A lot of times we as parents, and I'm just going to be honest, we as parents, we can sometimes get caught up in the wanting to, you know, not have our kids to have some of the same experiences we did, where it can like kind of hinder or hurt the children.
• 27:03
  SPEAKER_01: So I try to be very conscientious of that because I still want them to understand that, hey, listen, if you want to have this kind of food, or if you want to drive this kind of car, or if you want to live in this kind of house, you're going to have to go and work for it.
• 27:19
  SPEAKER_01: Um, so having them understand that they have to work for the things that they want.
• 27:24
  SPEAKER_01: Um, and then of course, saving and budgeting, because that's very, very important.
• 27:29
  SPEAKER_01: Um, and how we practice that now is uh my my kids, they do get an allowance.
• 27:37
  SPEAKER_01: And you know, a if they have personal things they want to, you know, do or they have personal things they want to get, they have their money, but they have to understand, like, you know, they have to budget that and they have to make sure they stay just in case they, you know, see something that might be a little more than what they usually get for their allowance.
• 27:55
  SPEAKER_01: Um, and you know, just kind of have those things.
• 27:58
  SPEAKER_01: Uh and and and my last thing for me is entrepreneurship.
• 28:03
  SPEAKER_01: I think this is very, very important.
• 28:06
  SPEAKER_01: Um because, you know, when I was younger and when I was coming up, you know, they always encourage us, hey, listen, go to college, get an education, and go get you a good job.
• 28:16
  SPEAKER_01: Um, if I'm being completely honest, you don't hear that a lot nowadays.
• 28:22
  SPEAKER_01: Um, and then of course, where we are with, you know, the music industry and the and and social media and that fast money, I'm not opposed to it, I'm not against it.
• 28:32
  SPEAKER_01: You know, I don't have any problem with it.
• 28:34
  SPEAKER_01: But a lot I find that a lot of the youth is looking to that or trying to take that route.
• 28:40
  SPEAKER_01: And it's absolutely nothing wrong with that.
• 28:43
  SPEAKER_01: But um I definitely, definitely think that we should really um, you know, help help our children understand entrepreneurship because you know it it's kind of where it's kind of where this new wave is going.
• 28:57
  SPEAKER_01: Working, find find something you love, make money doing it, understand how to operate in a business, not just doing it because you know the next person thinks it's pretty cool, but really maximizing the financial, the financial potential behind it.
• 29:15
  SPEAKER_01: Um, and one of one of the one of the things that I practice with my daughter, she's my oldest.
• 29:21
  SPEAKER_01: Um, two years ago, um she said, Hey daddy, I want to make some money this summer.
• 29:26
  SPEAKER_01: What can I do?
• 29:27
  SPEAKER_01: I said, I tell you what, we're gonna do a lemonade stand.
• 29:29
  SPEAKER_01: So I let her come up with the plans, how many days you're gonna work, how many hours you're gonna work, how much you're gonna charge, and then I help her understand that, okay, well, this is how much it's gonna cost for your lemonade, this is how much it's gonna cost for your cups, you know, this how much it's gonna cost for your ice and your cooler, and you know, kind of help her through that process, but still giving her the opportunity to have her way where she can lead and give the ideas because she's going to run it and operate it as her own business.
• 30:00
  SPEAKER_01: So that that would be, you know, what I would what I would be as of today.
• 30:05
  SPEAKER_04: I like that.
• 30:06
  SPEAKER_04: That that's some good information.
• 30:08
  SPEAKER_04: We may have to do a part two and talk about that.
• 30:13
  SPEAKER_04: So I think we're gonna stop here because we may run out of time, but that these are good conversations.
• 30:19
  SPEAKER_04: And um, I want to thank you so much for taking our time, you know, to speak with us and give us that honest, honest feedback and about financial planning and how to handle life transition.
• 30:30
  SPEAKER_04: So, guys, remember tonight was not just about money, it was about you preparing, about wisdom, about understanding that life will shift.
• 30:39
  SPEAKER_04: And if we are not prepared mentally, emotionally, spiritually, and financially, we become overwhelmed, and then you have what we call impulse spending, and then you fall apart.
• 30:50
  SPEAKER_04: But one thing I hope you all take away from this conversation is planning does not mean you're expecting the worst.
• 30:56
  SPEAKER_04: It means you're respecting your future.
• 30:58
  SPEAKER_04: And family, life is gonna have transition.
• 31:01
  SPEAKER_04: So whether you're ready or not, buckle your seatbelts because your children grow up, um, careers change, unexpected things happen, new opportunities can come.
• 31:12
  SPEAKER_04: And sometimes we say, hey, it just fill in our lap, right?
• 31:15
  SPEAKER_04: Growth happens, and sometimes the very thing we're praying for requires a level of preparation.
• 31:21
  SPEAKER_04: So we haven't stepped into it yet, but you have to be prepared.
• 31:25
  SPEAKER_04: So today I want to challenge you to not avoid the conversations, don't avoid your planning, take the band-aid off.
• 31:32
  SPEAKER_04: I tell you all the time, look at your what I spend, what's coming in, what's going out.
• 31:36
  SPEAKER_04: Look at your what I spend sheep.
• 31:38
  SPEAKER_04: Don't wait until a crisis comes and then be like, oh, I need to figure this out.
• 31:42
  SPEAKER_04: What am I gonna do?
• 31:43
  SPEAKER_04: Have that next day that Mr.
• 31:45
  SPEAKER_04: Taylor talked about.
• 31:46
  SPEAKER_04: I need you to start now, have those hard conversations, start building those habits, create the structure that's needed, ask the questions, get organized, prepare for the life that you want.
• 31:58
  SPEAKER_04: Because financial peace isn't just about how much money you make, it's about how prepared you are to navigate life when life starts.
• 32:07
  SPEAKER_04: What we say, when life starts life.
• 32:09
  SPEAKER_04: So, family, that's why this show was created.
• 32:12
  SPEAKER_04: Not just to talk about real estate or just talking about finance, but to have honest conversations that help people grow, heal, build, and become a better version of themselves.
• 32:23
  SPEAKER_04: Because I don't just talk about real estate, I teach you how to become the person who can sustain it.
• 32:30
  SPEAKER_04: Thank you again to every single listener, old and new.
• 32:34
  SPEAKER_04: This is your girl Kirby.
• 32:36
  SPEAKER_04: Bye for now.
• 32:37
  SPEAKER_04: See you soon.
• 32:39
  SPEAKER_00: Thank you for tuning in to Life, Finance, and Real Estate with Kirby the Realtor.
• 32:44
  SPEAKER_00: You can catch us every Thursday at 12 p.m.
• 32:47
  SPEAKER_00: on 92.1 WJMG, 93.1 WGDQ.
• 32:52
  SPEAKER_00: And also you can listen live at 921 WJMG.com or 931 WGDQ.com.
• 32:59
  SPEAKER_00: If you happen to miss the live recording, don't fret.
• 33:02
  SPEAKER_00: We'll replay it at 6 p.m.
• 33:03
  SPEAKER_00: tonight.
• 33:04
  SPEAKER_00: Thank you once again for listening to Life, Finance, and Reals.