“I Feel Behind Financially”: Your Toughest Money Qs Answered with Your Rich BFF, Vivian Tu

About this episode

In this episode of the Liz Moody Podcast, host Liz Moody and guest Vivian Tu, a former JP Morgan trader and author of the New York Times bestseller Rich AF: The Winning Money Mindset That Will Change Your Life, dive into the dos and don’ts of personal finance.  They begin by discussing methods for budgeting, specifically the 50/30/20 method. Vivian also introduces her ground rules for any relationship: partners should have their own money and a prenup. While many hold misconceptions that prenups are for people who doubt their relationships, Vivian sees them as similar to car or health insurance. You don’t get car insurance because you don’t trust your vehicle!  Liz and Vivian also discuss investments and determining which types of investments are worth it. Vivian emphasizes the importance of taking internet investment trends with a grain of salt because there are no real get-rich-quick schemes. Instead, she recommends taking advantage of tax optimizations before moving into less traditional investments.  The conversation also highlights the unique challenges of working in the era of the 401k. Vivian advises listeners to seek out a meaningful raise every two years and to change comp