Love & other assets

Love, Money, and FIRE With Shang Saavedra

jennifer@withplenty.com (Shang Saavedra, Emily Luk from Plenty) — Thu, 2 Jan 2025 08:00:00 +0000

This week on Love & other assets, we had the pleasure of speaking with Shang Saavedra, founder and CEO of Save My Cents, a financial coaching business focused on the intersection of mental health and financial well-being. Shang, along with her husband, achieved financial independence and retired early (FIRE) by the age of 31, a feat she attributes to a combination of frugal living and strategic investing. Their journey wasn't always smooth sailing; Shang openly discussed the challenges of balancing her desire for a comfortable lifestyle with her husband's more extreme frugal approach. This highlights a common struggle for many couples: navigating differing financial philosophies.

Shang shared insightful anecdotes about their early days, from living in a tiny, rent-stabilized apartment in New York City to making strategic use of credit card points and miles for travel. She emphasizes that extreme frugality wasn't their initial plan, but rather a result of a conscious decision to live off a single income to mitigate the potential career impacts of motherhood. This led to their unexpected early retirement.

The conversation then shifted to identifying red flags in relationships, particularly concerning financial transparency. Shang noted that a reluctance to discuss finances openly can be a significant warning sign, emphasizing the importance of open communication about money, a topic often avoided but crucial for a successful partnership. She suggested a clever way to gauge a partner's financial habits: planning a vacation together. This seemingly simple activity reveals much about budgeting, spending habits, and decision-making styles.

Shang also discussed the evolving nature of their financial partnership, highlighting the importance of compromise and trust. Initially using separate "no questions asked" budgets, they gradually developed a deeper understanding and trust, leading to shared financial decisions. This evolution highlights that financial harmony in a relationship is an ongoing process, not a destination. The episode concludes with practical advice for couples on setting shared goals, prioritizing childcare and schooling plans, and navigating potential career adjustments after having children. Shang's emphasis on self-worth and combating the pressure of societal comparisons adds another layer of crucial mental support needed for successful financial planning.

Curious to learn more? This episode delves into:

The surprisingly attainable FIRE lifestyle. Could it be your next adventure?
The hidden secrets of extreme frugality (without sacrificing all the fun).
Spotting financial red flags in relationships before they become dealbreakers. Think you've got a keen eye? Find out!
Navigating the ever-evolving dance between individual and shared finances. Are you in sync with your partner?
The art of the compromise: blending different financial styles into a winning team.
Conquering the "Am I behind?" feeling and embracing a mindset of abundance. It’s about your worth, not just your net worth!

Listen to this episode to learn the secrets to a happier, wealthier, and more fulfilling relationship!

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is an wealth platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Connect with Shang Saavedra: Website| LinkedIn |Instagram

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

The "Stuck" Factor With Deanna deBara

jennifer@withplenty.com (Deanna Debra, Emily Luk from Plenty) — Wed, 18 Dec 2024 08:00:00 +0000

In this episode of Love & other assets, Emily Luk, CEO of Plenty, interviews writer and podcast host Deanna deBara. Deanna shares her personal experiences with financial "stuckness" and offers insights on how to navigate it, both individually and within relationships. She defines stuckness as the uncomfortable in-between place when your old ways don't work, but the new ones haven't yet emerged.

Deanna opens up about her past struggles with financial literacy and instability. She emphasizes the importance of compassion and self-education when confronting financial difficulties. Deanna stresses that you can't shame yourself into change, but compassion can be a catalyst for progress. She highlights the significance of understanding your relationship with money and having open conversations about finances with partners.

They discuss how different personalities approach money, and how these differences can lead to conflict within relationships. Deanna emphasizes the importance of open communication, compromise, and a willingness to grow together and let go of past resentments. Deanna explains the need to regulate nervous systems, and taking breaks during difficult conversations, when these triggers happen. She shares her personal ritual of writing down resentments to release them.

Deanna also shares insights on supporting a partner who feels stuck. She encourages empathy and holding space for their feelings, while also empowering them to find their own path forward. She underscores the need to differentiate between being "stuck" and facing mental health challenges. She closes by discussing the importance of having shared vision and being supportive of each other's differences and goals.

What we discussed:

Ever feel like you're just spinning your wheels with your finances? What if that "stuck" feeling isn't a failure, but a necessary step toward something better? We dive into what it really means to be "stuck" and why it's not as bad as you think.
Do you beat yourself up over past money mistakes? Prepare to have your mind blown: Shaming yourself won't get you anywhere. We discover the surprising power of compassion in transforming your financial life.
Are money talks with your partner like navigating a minefield? Turns out, it doesn't have to be! Discover the secrets to having open, honest conversations about finances – even when you have totally different approaches.
Saver vs. Spender? Is it a recipe for disaster? Learn how to bridge the gap and understand that your money baggage and your partner's money baggage are both influencing how you handle money in your relationship.
Resentment about past money missteps? Ever wonder if that resentment you are harboring is actually doing more harm to you than anyone else? We uncover why letting go of past resentments is crucial for a healthy financial and romantic future.
Is your partner feeling "stuck," but you're not sure how to help? Learn how to be a truly supportive partner, without falling into the trap of enabling them to stay stuck. Discover the fine line between helping and hindering.

Ready to get unstuck, together? Download this episode and prepare for some eye-opening conversations!

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is a wealth platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Connect with Deanna deBara: Website| LinkedIn

Connect with Emily Luk: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Season of stuck

The secret to managing money as a couple according to Esther Perel

jennifer@withplenty.com (Emily Luk from Plenty, Channing Allen, Esther Perel) — Thu, 12 Dec 2024 15:15:00 +0000

In this episode of Love & other assets, host Emily Luk sits down with her co-founder and husband, Channing Allen, and Plenty advisor, Esther Perel. Esther, a New York Times bestselling author and globally recognized voice on relationships, joins the conversation to explore the intersection of love, money, and power dynamics.

The episode begins with personal anecdotes from Emily and Channing about their own financial journey as a couple, from the early days of splitting bills to navigating shared expenses and different income levels. Esther offers profound insights into the emotional underpinnings of financial decisions, explaining how money serves as both a practical and symbolic element in relationships.

Key topics include the role of power dynamics in financial decisions, the concept of fairness in partnerships, and the importance of finding a balance between togetherness and individuality. Esther emphasizes that while money often creates tension, the way couples communicate about it can either exacerbate or resolve conflicts.

The discussion also delves into the value of transparency, the significance of shared goals, and the evolving cultural norms around financial independence and interdependence. Emily and Channing share how they’ve used humor and open dialogue to manage differences, while Esther reframes money management as a relational skill that grows alongside the partnership.

This episode is a must-listen for couples navigating the complexities of love, money, and modern relationships.

What We Discussed:

Power and Control in Relationships: Esther explains how power dynamics are inherent in relationships and often manifest through money. She offers advice on how couples can recognize and address these dynamics without letting them create conflict.
Redefining Fairness: Channing and Emily reflect on how they approached financial fairness, even as their income levels shifted, emphasizing the importance of mutual contribution and support.
Transparency and Trust: The conversation highlights the value of transparency in financial discussions, from sharing assets to navigating major decisions like joint expenses or prenups.
Balancing Individuality and Togetherness: Esther frames this as the central task of relationships, offering guidance on how couples can align financial management with their relational goals.
The Emotional Weight of Money: Emily and Channing share how their upbringing influenced their financial behaviors, while Esther explores how cultural legacies shape financial decisions and perceptions of value.
Practical Advice for Couples: Esther suggests that couples approach money management as an ongoing conversation, integrating regular check-ins and leveraging tools like advisors or apps to bridge knowledge gaps.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or your favorite podcast platform.

Brought to you by Plenty. Plenty is an wealth management platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Esther Perel: Website | LinkedIn | Podcast
Emily Luk: LinkedIn | Twitter
Plenty: Website | Instagram | Facebook | YouTube | Tik Tok

PEOPLE & RESOURCES MENTIONED

CHAPTERS

(1:50) Money and relationship dynamics

(3:04) Financial transparency and discomforts in relationships

(6:08) The emotional narrative of money

(9:03) Defining fairness in shared finances

(11:20) Navigating difficult financial conversation

(14:06) Cultural legacies and masculinity in financial roles

(17:13) Family values and spending habits

(20:18) Abundance versus scarcity mentalities

(21:47) Saving versus spending conflicts in couples

(22:36) Strategies for conflict-free money communication

(30:34) Navigating power and independence in financial relationships

(36:06) The importance of financial transparency

(41:14) Managing unexpected financial changes

(42:36) Financial privacy versus secrecy

(45:39) Establishing principles for financial decisions

(46:16) Regular financial check-ins and reviews

(48:07) Effective financial frameworks for couples

(54:09) Balancing individual and shared goals

(57:44) The importance of prenups

(1:03:38) Connecting with your future self financially

(1:07:12) Conversations about money and family background

(1:12:31) Final advice for newly married couples about money

Sneak peek: The secret to managing money as a couple according to Esther Perel

jennifer@withplenty.com (Esther Perel, Channing Allen, Emily Luk) — Fri, 6 Dec 2024 22:58:02 +0000

In our upcoming episode of Love & other assets, Esther shares her expertise on how money dynamics shape relationships, from the balance of power and control to shared values and long-term goals. The conversation touches on how couples can navigate financial differences, redefine fairness, and find harmony between individuality and togetherness. Emily and Channing share personal stories from their journey as co-founders and partners, illustrating how communication, trust, and humor can transform challenging money conversations into opportunities for growth. The episode will be available on December 12th.

The future of wealth: A conversation with Mark Peter Davis

jennifer@withplenty.com (Mark Peter Davis, Emily Luk from Plenty) — Wed, 23 Oct 2024 07:00:00 +0000

In this episode of Love & other assets, Emily Luk speaks with venture capitalist Mark Peter Davis about the world of alternative investments and how it's becoming more accessible to everyday families. Mark is Managing Partner of Interplay Ventures, and is a NYC-based venture capitalist, entrepreneur, author, and startup community organizer. Mark, with his deep understanding of the venture capital landscape, shares insights into the changing dynamics of the industry over the past two decades, highlighting the increasing accessibility for entrepreneurs and the shift towards outsourcing and lighter operating structures. He also delves into the complexities of family offices, explaining their secretive nature and varied investment styles.

The conversation then explores the concept of alternative investments, defining it as a catch-all for anything that's not stocks or bonds, and discussing the potential benefits and risks involved. Mark shares his perspective on the shift towards democratizing access to alternative investments for everyday households, acknowledging the challenges and potential pitfalls, and provides valuable advice on how couples in their thirties can approach allocating funds to these investments. The episode concludes with Mark's insights on the most impactful alternative investments he's backed and his belief in the power of careful investment for social good.

This episode is a must-listen for anyone looking to demystify the world of alternative investments and understand how they can work for everyday families.

What we discussed

The Evolution of Venture Capital: Mark takes us on a journey through the evolution of the venture capital industry, highlighting the significant changes in the competition dynamic, the cost of capital, and the emergence of institutional players at earlier stages.
Unveiling the Mystery of Family Offices: Mark sheds light on the world of family offices, debunking the "black box" perception and revealing their varied investment styles, highlighting the need for specialized partners to navigate this complex market.
Alternative Investments Explained: A clear explanation of alternative investments, demystifying the term and differentiating the institutionalized categories from the "long tail" of niche assets.
Pros and Cons of Alternative Investments: Mark weighs the potential benefits of higher returns against the drawbacks of lower liquidity, providing context for investors to understand the trade-offs involved.
Unlocking Access for Everyday Families: Mark discusses the efforts to democratize access to alternative investments for individuals beyond accredited investors, highlighting the development of services and apps aimed at bridging the gap.
Strategic Approach to Alternative Investments: Mark offers valuable advice for couples in their thirties who are considering allocating funds to alternative investments, emphasizing the importance of long-term horizons and aligning investments with individual financial goals and risk tolerance.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is an investment platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Connect with Mark Peter Davis: Website| LinkedIn |X

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

How your spending habits shape your relationship (and vice versa)

jennifer@withplenty.com (Scott Rick, Emily Luk from Plenty) — Wed, 16 Oct 2024 07:00:00 +0000

In this episode of Love & other assets, Emily Luk, CEO and co-founder of Plenty, welcomes Scott Rick, a marketing professor at the University of Michigan's Ross School of Business. Rick, who specializes in the psychology of money and relationships, delves into his research on tightwads and spendthrifts, the two distinct spending styles that often clash in romantic relationships.

Rick explores the dynamics of different combinations of these spending styles in relationships. Two tightwads tend to be safe and stable but might lack excitement and novelty. Mismatched couples, with one tightwad and one spendthrift, can experience more arguments over money, but Rick suggests strategies to navigate these disagreements, such as letting the tightwad win on material purchases and the spendthrift on shared experiences. Two spendthrifts can be explosive and prone to debt, but they might also enjoy a more adventurous lifestyle.

Rick delves into the complexities of mismatched incomes in relationships, highlighting the importance of a "we earn" mentality and joint accounts to avoid scorekeeping and foster a sense of partnership. He stresses that even in relationships with different income levels, everyone should have some personal money to spend independently.

Rick also shares his insights on gift giving, emphasizing the significance of surprise and thoughtful gifts that reveal an understanding of the partner's interests and aspirations. He argues that gifts should involve some sacrifice, highlighting the psychological impact of a tightwad's willingness to spend money on their partner.

The episode concludes with Rick's current research on tightwads and spendthrifts by state, exploring potential political connections and the impact on spending habits. He also mentions his ongoing research on prenuptial agreements

What we discussed:

Are you a tightwad or a spendthrift? This episode dives deep into the psychology of spending habits and how they impact your relationships. Find out which category you fall into and how to navigate the financial minefield with your partner.
Do opposites really attract? The episode explores the dynamics of mixed-spending couples: tightwad and spendthrift. Discover if those differences lead to constant arguments or can actually create a happy and balanced relationship.
Does your childhood impact how you spend money? Learn how early experiences shape our financial habits and how to break the cycle of your parents' spending patterns.
How do you handle mismatched incomes in a relationship? Get practical advice on navigating the tricky topic of money when one partner earns significantly more than the other.
Is it okay to have some "secret" money? Discover why financial transparency is only sometimes the best policy and learn how to balance shared finances with individual autonomy.
What makes a truly thoughtful gift? This episode goes beyond simply buying a present, exploring the art of gift-giving that reveals your understanding and appreciation for your partner.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Scott Rick: Website| LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Ask Ronna

Tight Wads and Spendthrifts: Navigating the Money Minefield in Real Relationships

From first kid to first home: Estate planning milestones you don't want to miss with Daniel Goldstein

jennifer@withplenty.com (Emily Luk from Plenty) — Wed, 9 Oct 2024 18:26:53 +0000

In this episode of Love & other assets, Emily welcomes Daniel Goldstein, co-founder and COO of Trust & Will, the leading online estate planning company. Daniel shares his journey to starting Trust & Will, fueled by the realization that there was no easy online solution for estate planning, a common need for millennials navigating milestones like parenthood and homeownership.

The conversation delves into the insights from Trust & Will’s study on millennials and estate planning, revealing a significant communication gap between millennials and their parents about estate planning. Daniel attributes this gap to inertia, generational differences in money conversations, and the financial squeeze millennials are facing.

Daniel unpacks the key life milestones that trigger estate planning for many millennials, emphasizing the importance of taking action even when facing a limited net worth. Trust & Will’s user-friendly platform, designed for a digitally native audience, has proven to be highly effective in making estate planning accessible and affordable.

The conversation includes a practical breakdown of the trust vs. will process, debunking common misconceptions about the need for substantial wealth to utilize these tools. Finally, Daniel shares insights on the growing importance of digital estate planning, particularly for Gen Z, and the increasing partnership between Trust & Will and financial advisors.

What we discussed

The Trust & Will Story: Daniel reveals the serendipitous journey of starting Trust & Will, driven by his personal experience and the lack of user-friendly solutions in estate planning.
Millennials and Estate Planning: The conversation explores Trust & Will’s study on millennials, highlighting the significant communication gap around estate planning and the factors contributing to it.
Sandwich Generation Challenges: The episode sheds light on the "sandwich generation," particularly for millennials, navigating the simultaneous demands of raising children and caring for aging parents.
Estate Planning for All Net Worths: Daniel debunks the myth that estate planning is only for the wealthy, emphasizing its importance for individuals and families at various stages of life and asset accumulation.
Accessibility and Ease of Use: The episode showcases Trust & Will’s user-friendly platform, making estate planning accessible and straightforward for a digitally native audience.
Digital Estate Planning: The conversation emphasizes the increasing importance of digital estate planning in today's digital world, particularly for managing digital assets.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Daniel Goldstein: Website| LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Trust & Will's millennial estate planning study

The Great Wealth Transfer

Modern love, modern marriage: A conversation with Courtly's Micaela Beltran

jennifer@withplenty.com (Micaela Beltran, Emily Luk from Plenty) — Wed, 2 Oct 2024 07:00:00 +0000

In this episode of the love & other assets podcast, Emily Luk, CEO and co-founder of Plenty, sits down with Micaela Beltran, co-founder of Courtly, an online marriage platform. They discuss Micaela's journey from New York City native to Manila-based entrepreneur, her experience building Kaya Collaborative, a social enterprise connecting Filipino diaspora youth with volunteer opportunities in the Philippines, and her transition into the startup world.

Micaela shares insights on building a company with international talent, the benefits and challenges of remote work, and how Courtly makes marriage accessible to everyone, regardless of location, nationality, or sexuality. They also discuss how today's generation views marriage differently, with increased emphasis on personalization and fluidity.

The conversation touches on the evolution of wedding traditions, the growing popularity of online ceremonies, and the challenges and highlights of building a startup in a gray area of marriage law. Finally, Micaela reveals her excitement for the future of Courtly, including plans to expand its services beyond online marriage and become a comprehensive family services business.

What we discussed:

Building a company with international talent: The benefits and challenges of accessing global talent, leveraging remote work, and navigating cultural differences.
Courtly's mission: Making marriage accessible to everyone regardless of location, nationality, or sexuality.
The changing landscape of marriage: How today's generation views marriage and weddings differently, focusing on personalization, intimacy, and a more fluid approach to tradition.
Challenges and highlights of building a startup: The emotional rollercoaster of entrepreneurship, the uncertainty of navigating a gray area of the law, and the heartwarming moments of witnessing couples get married.
Courtly's future plans: Expanding services beyond online marriage to become a comprehensive family services business.
The importance of embracing change: Recognizing the evolution of traditions and embracing the new ways people create families and celebrate love.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Micaela Beltran: Website |LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Courtly: An online marriage platform

Kaya Collaborative

Notpot

Deel

From firefighter to financial therapist: Unlocking love & money secrets with Ed Coambs

jennifer@withplenty.com (Ed Coambs, Emily Luk from Plenty) — Wed, 25 Sep 2024 07:00:00 +0000

In this episode of Love & other assets, Emily Luk, CEO & co-founder of Plenty, talks with Ed Coambs, a financial therapist who helps couples turn their love and money stories into happily-ever-afters. Ed Coambs MBA, MA, MS, CFP®, CFT-I™, is an internationally recognized thought leader and award-winning author in financial therapy. He leads couples through Therapy-Informed Financial Planning™ from financial despair and frustration into financial intimacy and connection using the latest in love, brain and financial planning science. His ideas appear in the Wall Street Journal, the Associated Press, Time, and CNBC. He earned master's degrees in business, counseling, and financial planning. He is a licensed marriage and family therapist, Certified Financial Planner™, and Certified Financial Therapist-I™.

Ed's journey is fascinating. He started as a firefighter, then got an MBA and became a financial advisor, only to find his true calling in helping people understand their psychological relationship with money. His career path reveals the profound interconnectedness of our inner world and our financial choices.

We delve into the often-difficult conversation about money in relationships, uncovering why it's so tricky and what we can do about it. Ed shares valuable insights into how childhood experiences shape attachment styles, impacting how we relate to money and our partners.

What we discussed:

The roots of financial conflict: Ed explains how different family backgrounds and money experiences can create friction even in couples who seem like a perfect match.
Attachment theory and money: Learn how your attachment style, developed in childhood, influences your financial decisions and how you approach your partner's needs.
Unlocking financial intimacy: We explore what financial intimacy means and how couples can cultivate a sense of safety and transparency when discussing finances.
The power of body awareness: Ed shares how tuning into your body's signals can help you recognize when you're shutting down or escalating in a money conversation.
Tips for navigating conflict: Discover techniques for bringing down the heat when things get heated during financial conversations.
Words of advice: Ed shares valuable advice he'd give his younger self, reminding us that we can heal from financial fears and insecurities.

This episode is packed with practical advice and insights that can help you transform your relationship with money and your partner. Don't miss it!

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Ed Coambs: Website| LinkedIn | Instagram

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Financial Therapy Clinical Institute

Financial Therapy Association

Attachment Theory

Mindfulness practices

Talking money with your partner (and yourself) with Aja Evans

jennifer@withplenty.com (Aja Evans, Emily Luk from Plenty) — Wed, 18 Sep 2024 07:00:00 +0000

This episode of Love & other assets dives deep into the emotional world of money with Aja Evans, a board-certified therapist specializing in financial therapy. Emily and Aja discuss how our upbringing and personal experiences shape our relationship with money. They explore the common thought patterns that keep people from engaging with their finances openly and honestly, like feeling inadequate for not knowing more about money or fearing the potential for financial instability.

Aja shares practical tips for starting conversations about money with your partner, emphasizing the importance of labeling your feelings, using "I statements" to avoid blame, and understanding where your money beliefs stem from. She highlights the benefits of having separate funds for individual spending, even when sharing a joint account, as a way to foster trust and security within a relationship.

The conversation also touches on the importance of financial transparency, whether it's sharing access to your individual accounts or having a shared platform for tracking finances. This transparency, Aja argues, can help build a stronger foundation for couples, allowing them to navigate financial decisions with more trust and understanding.

Throughout the episode, Emily and Aja address common fears and anxieties around money, from the fear of making mistakes to the feeling of being behind financially compared to others. They offer advice for managing these emotions and focusing on creating a financial future that aligns with your values and goals.

This episode is a must-listen for couples who are ready to break down financial barriers and build a strong foundation for a shared financial future.

What We Discuss:

Feeling the feels: Learn how to identify and label your emotions around money, even if they're uncomfortable.
The power of "I statements": Understand how using "I statements" can improve communication about money with your partner.
Facing your money history: Explore the roots of your money mindset and how your past shapes your present financial decisions.
Building financial confidence: Learn strategies for managing money anxiety and overcoming the fear of making mistakes.
Joint vs. individual goals: Discover the benefits of having both shared financial goals and individual spending freedom within a relationship.
Financial transparency: Understand the importance of open communication about money and the value of having a single source for tracking your finances.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Aja Evans: Website | Instagram | LinkedIn |

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube |

Financial Therapy Association: Website | Instagram | Facebook | LinkedIn| Twitter

PEOPLE MENTIONED

Channing Allen

UBS

Noma

How couples can conquer debt together with Nathan Astle

jennifer@withplenty.com (Nathan Astle, Emily Luk from Plenty) — Wed, 11 Sep 2024 07:00:00 +0000

In this episode of Love & other assets, Emily Luk, CEO and co-founder of Plenty, sits down with Nathan Astle, a leading financial therapist, to delve into the often uncomfortable topic of debt in relationships. They explore how debt can become a source of shame and guilt, particularly when individuals compare themselves to their partners or feel pressure to achieve a debt-free lifestyle. Nate emphasizes that everyone makes mistakes, and judging ourselves or our partners harshly for having debt can hinder our motivation to change. He suggests reframing debt as a problem to be tackled together as a team rather than a reflection of personal failures.

The conversation also delves into the dynamics of navigating debt within couples who have different levels of debt, highlighting the importance of establishing shared financial goals and values. They discuss the various types of debt, acknowledging that not all debt is created equal and that circumstances often play a significant role in debt accumulation.

Nate offers valuable advice for couples navigating uncomfortable money conversations, including the importance of validation, sharing space for understanding, and seeking professional help when needed. He stresses that therapy can be a powerful tool for prevention and support, helping couples build a stronger foundation for communication and decision-making.

What we discussed:

Reframing Debt: Understand that debt is a problem to be tackled together as a team, not a reflection of personal failures.
Shared Financial Goals: How to establish clear goals and values when it comes to money as a couple, whether it's sharing everything or creating a "yours, mine, and ours" system.
Validate Emotions: How you can acknowledge and validate each other's feelings about debt, even if you don't agree with them.
Seek Professional Help: Nathan shares why you should seek the guidance of a financial therapist or couples therapist when navigating difficult conversations.
Understand & Communicate: Nathan shares how to use the speaker listener technique to ensure each partner feels understood before diving into problem-solving.
Focus on Purpose: How to make choices that align with your shared values and emotional needs, rather than focusing solely on the "things."

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Nathan Astle: Website| LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Relational Money

Financial Therapy Clinical Institute

Beyond Finance

Financial Therapy Association

Feelings Wheel

Speaker Listener Technique

Rebuilding life after loss and finding financial strength with Amanda Burr

jennifer@withplenty.com (Amanda Burr, Emily Luk from Plenty) — Wed, 4 Sep 2024 07:00:00 +0000

In this episode of Love & other assets, Emily Luk sits down with Amanda Burr, a resilient widow who shares her extraordinary journey of rebuilding her life after the sudden loss of her husband. Amanda's story is a testament to courage, authenticity, and facing fears head-on.

Prepare to be moved as Amanda recounts the emotional roller coaster she endured. From the shock and fogginess of the immediate aftermath to the unexpected challenges of managing finances and navigating the bureaucratic labyrinth of insurance payouts, Amanda reveals the raw reality of grief and the importance of a strong support network.

Get ready for an insightful conversation about financial preparedness. Amanda shares valuable lessons about the crucial role of life insurance, the importance of a robust emergency fund, and the often-overlooked gap between death and receiving insurance benefits. She emphasizes the need to proactively plan for such unforeseen circumstances, especially when children are involved.

You'll discover a moving perspective on money and its power. Amanda's journey highlights a shift in her relationship with finances, moving from a relentless pursuit of "more" to a focus on meaningful experiences and fostering financial literacy for her children.

Prepare to be inspired by Amanda's resilience and her remarkable ability to rebuild her life. You'll hear about her blossoming new relationship and her entrepreneurial spirit, launching two businesses – a kitchen and bath remodeling company with her fiancé and a consulting business for tech companies.

What we discussed:

Financial preparedness: Did you know there could be a gap of months before you receive life insurance payouts? Amanda shares a chilling story about the importance of being prepared for unexpected events, even when they seem unlikely.
Strong support network: Amanda's story reveals that even in the darkest moments, a supportive community can make all the difference. Who are the people you can count on when life throws you a curveball?
Grief and resilience: "You're never going to get over it." Amanda shares her experience with grief and how it transforms over time. What does it mean to live with loss, and how can we find strength in the face of unimaginable challenges?
Proactive financial planning: What happens if your partner is suddenly unable to manage your finances? Amanda's journey highlights the importance of being on the same page with finances and having open conversations about money.
Raising financially savvy children: Amanda believes in exposing children to the world of money early on. How can we empower our children to make responsible financial decisions in the future?
Trusted financial advisor: Amanda advocates for having a financial advisor to help make sense of complex situations. Is there someone you trust to navigate your finances when you need guidance the most?

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Amanda Burr: LinkedIn |X/Twitter

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

The money talk with Emily Garbinsky

jennifer@withplenty.com (Emily Garbinsky, Emily Luk from Plenty) — Wed, 28 Aug 2024 07:00:00 +0000

In this episode of Love & other assets, Emily Luk, CEO and co-founder of Plenty, interviews Emily Garbinsky, an associate professor of marketing and behavioral scientist at Cornell University. Dr. Garbinsky specializes in understanding how couples make financial decisions and creating interventions to help them make better choices.

The conversation delves into Dr. Garbinsky's research, which has revealed a fascinating insight: couples who pool their finances feel a stronger need to justify purchases to their partner, leading them to prioritize utilitarian goods over hedonistic ones. This finding underscores the importance of financial communication in relationships.

Dr. Garbinsky highlights a crucial question about a couple's communication style: do they perceive financial conflicts as solvable or perpetual? She emphasizes that viewing conflicts as solvable encourages open dialogue about money, leading to better communication and compromise.

The conversation explores strategies for fostering a more positive perspective on financial conflicts, including remembering past instances of successful financial compromises. Dr. Garbinsky also discusses the challenges of discussing financial stress, attributing them to societal taboos around money and the perception that financial discussions are more likely to lead to arguments.

The episode also discusses the benefits of pooling finances, with Dr. Garbinsky noting that couples who share finances are more likely to stay together. She emphasizes the importance of creating a sense of "financial togetherness" regardless of whether finances are combined or separate. Dr. Garbinsky shares valuable insights on how couples can best manage their finances, have open communication about money, and share responsibility.

What we discussed:

Do couples who pool their finances make different spending choices? Dr. Garbinsky reveals a surprising finding: couples who share bank accounts feel a stronger need to justify purchases, leading them to choose more practical products over fun ones.
Is there a simple question that reveals how well couples communicate about money? Dr. Garbinsky shares a key insight: the way couples view financial conflicts (as solvable or perpetual) directly impacts their willingness to talk about money.
Can remembering past financial successes change how you view arguments about money? Discover how Dr. Garbinsky suggests using past financial compromises to shift your mindset and make financial discussions less stressful.
Why are financial conversations so difficult for many couples? Dr. Garbinsky explores the deeper reasons why couples avoid discussing money, including societal taboos and the fear of conflict.
Is there a simple trick to making financial conversations more enjoyable? Dr. Garbinsky shares a technique she uses with her partner to start financial discussions on a positive note, setting the stage for a productive conversation.
Do couples who pool their finances stay together longer? Dr. Garbinsky explains how sharing finances can promote a sense of "financial togetherness" and contribute to greater relationship satisfaction.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Dr. Emily Garbinsky: Website |Google Scholar

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Boulder Summer Conference on Consumer Financial Decision Making

UBS Study

Rick Steves travel book on Vienna and Salzburg

Dr. Garbinsky's research on couples' financial decisions

Dr. Joe Gladstone

John Gottman

John Lynch & Adrian Ward: You're the 'Money Person' in Your Relationship?

Beyond the joint account: Managing money with your partner featuring Aja Dang

jennifer@withplenty.com (Plenty) — Wed, 21 Aug 2024 07:00:00 +0000

Emily Luk, CEO and co-founder of Plenty, and host of the Love & other assets podcast, welcomes Aja Dang, a content creator who transitioned from modeling and YouTube personality to a financial expert. Aja shares her journey into financial content creation, starting with her vulnerability in sharing her own $150,000 student loan debt on YouTube. This resonated with viewers who felt seen and understood, creating a demand for more open financial conversations.

Aja dives into the complexities of managing money with a partner, highlighting the importance of individual accounts while still having a joint account for shared expenses. She emphasizes that there's no one-size-fits-all solution and encourages couples to find what works best for them.

The conversation delves into the importance of individual responsibility and transparency within a partnership, even when one partner takes the lead in managing finances. Aja shares her personal financial routine, which prioritizes investments, taxes, and a joint checking account for family expenses. She advocates for flexibility, testing out different methods and adapting them to individual needs.

Aja shares the lessons learned from her home-buying experience, highlighting the importance of saving more than 20% to account for unexpected costs. She acknowledges that homeownership isn't always the best financial decision, emphasizing the benefits of renting and the freedom it provides.

What we discussed:

Aja's journey from YouTube personality to financial expert: How did she overcome her own financial struggles and become a trusted voice for others?
Managing money as a couple: What are the different approaches to couple finances, and how can you find what works best for your relationship?
Confronting financial fears: What are the common fears people have about money, and how can you overcome them to take control of your finances?
The surprising truth about homeownership: Is it always the best financial decision, and are there alternatives that might be a better fit?
Aja's personal financial routine: What are her strategies for budgeting, investing, and saving, and can they be applied to your own life?
The importance of flexibility and adaptation: How can you adjust your financial approach to fit your changing circumstances and goals?

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Aja Dang: Website |Tiktok |Youtube

Connect with Emily Luk: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

UBS

Beyond the startup with Heather Comella

jennifer@withplenty.com (Heather Comella, Emily Luk from Plenty) — Wed, 14 Aug 2024 07:00:00 +0000

In this episode of the The love & other assets podcast, Emily Luk, CEO and co-founder of Plenty, interviews Heather Comella, founder of Folsom Wealth Advisors. Heather Comella, CFP® is a seasoned financial expert with over 15 years of experience as a holistic financial planner. Heather shares financial strategies for retirement, saving and investing, taxes, equity, and more. Emily and Heather discuss the unique financial challenges entrepreneurs face, particularly when balancing risk, building wealth, and managing household finances.

Heather emphasizes the importance of financial literacy and education, particularly for millennials who often lack formal financial training. She outlines the specific needs of entrepreneurs, highlighting the importance of a fully-funded emergency fund, intentional cash flow management, and diversification beyond just business ventures. They also discuss the impact of entrepreneurship on relationships, particularly when one partner is more risk-averse than the other.

Heather shares valuable tips for couples, like establishing clear financial guidelines, removing distractions during financial discussions, and seeking professional guidance when needed. They delve into common financial biases among entrepreneurs, such as familiarity bias, and the importance of addressing these biases to ensure proper diversification. The conversation also touches on cryptocurrency investment, the evolving priorities around homeownership, and the importance of investing in oneself and one's business.

What we discussed:

Financial literacy and education: The importance of financial education, especially for millennials who often lack formal training.
Financial needs of entrepreneurs: The importance of fully funded emergency funds, intentional cash flow management, diversification, and balancing business and personal finances.
Entrepreneurship and relationships: Navigating financial decisions and risk tolerance in couples, especially when one partner is an entrepreneur.
Common financial biases among entrepreneurs: Familiarity bias and the importance of diversifying investments beyond one's own business and industry.
Cryptocurrency investment: The importance of viewing cryptocurrency as a gamble and limiting exposure to a small percentage of one's overall wealth.
Evolving priorities around homeownership: Balancing the desire for homeownership with investing in oneself and one's business.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is an investment platform designed specifically for couples to build wealth together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Connect with Heather Comella: Website |LinkedIn |Instagram

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Mutual Funds

Folsom Wealth Advisors

Exchange Traded Fund (ETF)

Cryptocurrency

Retirement accounts

Beyond the "I do" with Laura Cannon

jennifer@withplenty.com (Laura Cannon, Emily Luk from Plenty) — Wed, 7 Aug 2024 07:00:00 +0000

This episode of Love & other assets explores the crucial aspects of marriage preparation with Laura Cannon, a seasoned wedding officiant and entrepreneur. Laura emphasizes that preparing for marriage goes beyond the wedding day celebration, requiring couples to invest in building a strong foundation for their lifelong partnership.

Communication emerges as a central theme, with Laura advocating for proactive discussions about expectations, boundaries, and potential conflicts. She introduces the "three-step dialogue" - a powerful communication tool that fosters understanding and collaboration. She also emphasizes the importance of discussing the "Four Rs of Relationships": Relationship boundaries, Roles, Responsibilities, and Resources. Laura challenges the stigma surrounding prenuptial agreements, viewing them as a loving way to protect each other's financial interests.

The conversation delves into the dynamics of change within a relationship, highlighting the need for open communication and a willingness to renegotiate boundaries as life evolves. Laura draws from her experience as a meditation teacher, emphasizing the importance of mindfulness in fostering connection and navigating conflict.

This episode offers practical tools and actionable insights for couples at all stages of their relationship, providing a roadmap for building a fulfilling and meaningful partnership.

What we discussed:

Preparation for Marriage: Laura highlights the distinction between preparing for a wedding and preparing for a marriage. The latter requires a solid foundation built on communication, understanding, and shared values.
Communication is essential for a successful marriage: Open and honest communication is vital for navigating life's challenges and maintaining a strong connection.
Premarital counseling or coaching can be beneficial: Seeking guidance from a professional can help couples improve communication skills, manage conflict, and address potential issues before they become problems.
The "three-step dialogue" is a powerful communication tool: This structured approach to conversation encourages understanding, empathy, and collaboration.
Discuss the "Four Rs of Relationships" before marriage: This framework helps couples address key areas: Relationship boundaries, Roles, Responsibilities, and Resources.
Mindfulness and presence strengthen relationships: By practicing mindfulness and being fully present with your partner, you can deepen your connection and cultivate a more fulfilling relationship.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Laura Cannon: Website | Instagram | LinkedIn | Facebook | YouTube

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Channing Allen

Laura Cannon's eBook: "The Marriage Manifesto

Ours (startup offering online premarital counseling)

Love, money, and the irrational truth featuring Dan Ariely

jennifer@withplenty.com (Dan Ariely, Emily Luk from Plenty) — Thu, 1 Aug 2024 07:00:00 +0000

In this episode of the Love & other assets Podcast, Emily Luk, CEO and co-founder of Plenty, interviews Dan Ariely, Professor of Psychology and Behavioral Economics at Duke University and a founding member of the Center for Advanced Hindsight. Dan is a renowned behavioral economist and a 3x New York Times Bestselling Author. Some of his best sellers are Irrationally Yours, Predictably Irrational, The Upside of Irrationality, The (Honest) Truth About Dishonesty.

Emily and Dan explore the intersection of irrationality, love, and money in relationships. They delve into how our often-unconscious biases and irrational tendencies influence our choices in dating, financial decision-making, and navigating the complexities of building a life together.

The conversation then turns to managing money as a couple, where Dan highlights the importance of establishing a joint financial system. He underscores the influence of power dynamics related to income and cautions against the pitfalls of dividing financial responsibilities too rigidly. He emphasizes the need for couples to make decisions together, especially regarding values, long-term goals, and shared financial aspirations.

Dan offers practical advice on hacking temptation, highlighting the benefits of automated savings processes and the power of personal rules to prioritize future well-being. Throughout the episode, Dan emphasizes the importance of recognizing and embracing our inherent biases and irrational tendencies as a springboard for making better choices in relationships. He encourages couples to actively engage in open communication, build shared financial systems, experiment with different approaches, and adjust their strategies to create a fulfilling and lasting partnership.

What we discussed

Irrationality in Dating: Dan argues that we often overestimate our ability to judge people quickly and miss opportunities with those who don't make a great first impression. He also points out the power of infatuation and the need for courage and vulnerability when dating.
Managing Money as a Couple: Dan highlights the importance of establishing a joint financial system, recognizing the impact of power dynamics related to income, and avoiding the pitfalls of division of labor. He emphasizes the need for couples to make decisions together, especially regarding values and long-term goals.
Hacking Temptation: Dan discusses the benefits of automated savings processes and the power of personal rules to help couples prioritize their future selves. He encourages experimentation to find out what brings the most joy and value in spending.
Second Chapter Relationships: Dan notes that relationships evolve over time and require different tools and approaches as couples navigate different stages and priorities.

Key Takeaways:

Recognize and Embrace Irrationality: Understanding our inherent biases and irrational tendencies can help us make better decisions in relationships.
Build a Shared Financial System: Establishing a joint financial system allows for greater alignment, transparency, and accountability.
Prioritize Open Communication: Sharing vulnerabilities, fears, and values is crucial for building trust and strengthening relationships.
Experiment and Adjust: Don't be afraid to try new things and adapt your approach to financial management and relationship dynamics to fit your unique needs.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is an investment platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save, and grow towards your future goals by unlocking access to the financial strategies of the wealthy.

SELECTED LINKS FROM THE EPISODE

Connect with Dan Ariely: Website |LinkedIn |Twitter/X

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Unlocking Relationship Health: A Conversation with Ours' Adam Putterman

jennifer@withplenty.com (Adam Putterman, Emily Luk from Plenty) — Wed, 24 Jul 2024 07:00:00 +0000

Adam Putterman, co-founder of Ours, joins Emily Luk, co-founder and CEO of Plenty, on the Love & other assets podcast to discuss the importance of relationship health and how his company is revolutionizing couples therapy. He shares his personal journey, driven by a desire to help couples intentionally invest in their relationship and the lack of focus on this crucial area despite its significant impact on overall well-being.

Adams dives into the world of premarital counseling highlighting its potential to provide couples with a structured space to have important conversations about long-term goals, finances, and family planning. He emphasizes the importance of finding the right therapist, discussing how both the therapist and the couple need to be on the same page regarding values, priorities, fears, expectations, and desired outcomes for the relationship.

Adam shares his personal insights on relationship rituals, emphasizing the importance of regular relationship check-ins, date nights, and novel experiences. This episode is a must-listen for anyone seeking valuable advice for finding the right therapist and building strong relationship rituals.

What we discussed

The Importance of Relationship Health: The episode highlights the lack of attention given to relationship health despite its significant impact on overall well-being. Adam emphasizes the need for intentional investment in relationships and the powerful effect of small actions.
Accessibility and Destigmatization of Couples Therapy: Adam addresses the barriers to couples therapy, particularly financial and social stigma. Adam discusses Ours' mission to make therapy more accessible and less stigmatized through pricing models, therapist matching, and partnerships.
Premarital Counseling: The conversation delves into the potential of premarital counseling to prepare couples for the challenges of marriage by providing a structured space for important conversations about finances, family planning, and relationship goals.
Finding the Right Therapist: The episode stresses the importance of finding a therapist who is a good fit for the couple. This includes considering therapist specialization, experience, and alignment with the couple's values and priorities.
Building Strong Relationship Rituals: Adam highlights the importance of establishing consistent rituals for relationship maintenance, such as regular check-ins, date nights, and novel experiences. He shares his personal experiences and tips for making these rituals a regular part of life.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Plenty. Plenty is a wealth platform helping modern couples invest and plan for their future together. We bring the investment strategies and products of the wealthy to the everyday household.

SELECTED LINKS FROM THE EPISODE

Connect with Adam Putterman: Website |LinkedIn |Twitter/X

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter/X

PEOPLE & RESOURCES MENTIONED

Esther Perel's Podcast

Joy

Eataly

Navigating wedding planning, budgets, and trends with Jessica Bishop

jennifer@withplenty.com (Jessica Bishop, Emily Luk from Plenty) — Wed, 17 Jul 2024 07:00:00 +0000

In this episode, Emily Luk interviews Jessica Bishop, CEO and Co-founder of Budget Savvy Bride, The Budget Savvy Bride is the #1 resource for couples planning a wedding on a budget. Jessica is a wedding planning expert, best-selling author, and podcast host who shares her insights and expertise on wedding planning and savings. Emily and Jessica discuss the inspiration behind Budget Savvy Bride and the changing trends in weddings over the years.

Jessica shares the story of how Budget Savvy Bride started as a personal blog to document her wedding planning journey. She emphasizes the importance of managing finances and shares tips for couples to save money on their weddings. Jessica also discusses the impact of Covid-19 on weddings and how couples are reevaluating their priorities. Emily and Jessica discuss the changing trends in weddings, such as elopements and micro weddings, and how couples are reevaluating their priorities. Emily and Jessica also share tips for couples to save money on their weddings. Jessica encourages couples to focus on what is important to them and their partners and to find ways to make their wedding day special within their budget.

What we discussed:

Financial Management in Relationships: Jessica highlighted the importance of managing finances as a couple, especially in the context of weddings.
Impact of Covid-19 on Weddings: The pandemic caused couples to reevaluate their wedding plans, leading to more intimate ceremonies and elopements. Jessica discussed how the shift in priorities due to the pandemic has influenced wedding trends.
Tips for Saving Money on Weddings: Jessica shared practical tips for couples to save money on their weddings such as prioritizing wedding elements, and considering alternatives or DIY options.
Balancing Budget and Priorities: Jessica shares the importance of couples focusing on what's important to them and their partners when planning their weddings and ways for couples to find ways to make their wedding day special within their budget.
The Role of a Wedding Planner or Coordinator: Jessica discussed the difference between a wedding planner and a wedding coordinator, and how they can help couples navigate the complexities of wedding planning.
Changing Trends in Weddings: Jessica highlighted changing trends in weddings, such as the rise of sober weddings, interactive elements, and personalized touches and how couples can embrace their uniqueness and make their weddings reflect their values and preferences.
Navigating Cultural Traditions: Jessica highlights the importance of open communication and finding compromises that respect both families.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Jessica Bishop: Website | Instagram | LinkedIn | X/Twitter

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter

The Budget Savvy Bride: Website | Instagram | Facebook | YouTube | Twitter

Savvy Wedding Guide Vendor Directory: Website |

Bouquet Toss Podcast: Website |

Something Borrowed Blooms: Website | Instagram | Facebook | Pinterest

Bloom Culture Flowers: Website | Instagram | Facebook | Pinterest | YouTube

PEOPLE MENTIONED

Channing Allen

Navigating wealth and well-being: Insights from Sam Dogen

jennifer@withplenty.com (Sam Dogen, Emily Luk from Plenty) — Thu, 11 Jul 2024 07:00:00 +0000

In this episode of the Love & other assets podcast, Emily Luk, CEO and co-founder of Plenty, interviews Sam Dogen, the founder of Financial Samurai. He was previously at Goldman Sachs and Credit Suisse, from which he retired at age 34. Dogen is a graduate of The College of William & Mary and received an MBA from the University of California, Berkeley.

Sam shares his journey from Wall Street to financial independence, discussing his early inspiration for finance, experiences during the dot-com era and the 2008 crisis, and the origin story of Financial Samurai. He candidly reflects on his decision to wait until later in life to start a family, highlighting the benefits of early family planning. We delve into his philosophy of extreme frugality, which allowed him to save 70% of his income early in his career. Sam discusses the balancing act of raising children and maintaining financial goals, emphasizing the importance of financial conversations in couples.

Throughout the conversation, Sam provides valuable insights on achieving financial freedom, navigating family life, and embracing a fulfilling lifestyle that prioritizes both wealth creation and well-being.

What We discussed:

Early Fascination with Wealth: Sam recalls being intrigued by wealth from a young age, inspired by encounters with successful individuals in his childhood.

Transition to Wall Street: Sam's interest in finance led him to study economics and Mandarin at the College of William and Mary. He began day trading in college, sparking his desire to pursue a career in finance. Sam shares his journey to Wall Street, from internships to landing a job at Goldman Sachs and later at Credit Suisse.

Experiences in Finance: Sam reflects on the highs and lows of his career in finance, from the excitement of the dot-com boom to the challenges of the global financial crisis. He shares stories of layoffs and the changing atmosphere on Wall Street during turbulent times.

Transition to Entrepreneurship: Sam discusses his decision to leave finance and pursue entrepreneurship. He shares a pivotal moment that sparked his transition.

Building Passive Income: Sam explains his strategy for building passive income, emphasizing frugality and strategic savings. He shares insights into his financial philosophy and the importance of saving aggressively to achieve financial freedom.

Navigating Family Planning: Sam reflects on his experience of delaying family planning and the eventual decision to have children. He shares advice for his younger self, urging prioritization of family planning and cherishing time with loved ones.

Financial Philosophy: Sam emphasizes the importance of saving and investing aggressively, encouraging couples to align their financial goals and have open conversations about money. He discusses his frugal lifestyle and how it has shaped his approach to finances with his wife.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Watch the interview on YouTube here.

SELECTED LINKS FROM THE EPISODE

Connect with Sam Dogen: Website | LinkedIn

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter

PEOPLE & RESOURCES MENTIONED

Navigating financial conversations together featuring Dr. Megan McCoy

jennifer@withplenty.com (Megan McCoy, Emily Luk) — Mon, 1 Jul 2024 07:00:00 +0000

In this episode of the Love and other assets podcast, Emily Luk welcomes Dr. Megan McCoy. Megan McCoy, Ph.D., LMFT, AFC®, CFT-I™, works in the Financial Planning Department in the College of Health and Human Sciences at Kansas State University where she serves as the program director for the Financial Planning Master's Program. She is a licensed Marriage and Family Therapist, an Accredited Financial Counselor®, and a Certified Financial Therapist-I™. She discusses financial therapy, a field that blends financial planning and mental health, aiming to address the intersection between money and overall well-being. Dr. McCoy shares personal anecdotes about her own journey with money, explaining how her avoidance of finances stemmed from a childhood desire to "save the world" and a belief that making money and saving the world were incompatible. She highlights how individual and couples' beliefs about money often stem from their childhood experiences, emphasizing the need to acknowledge and understand those deeply ingrained beliefs.

The conversation delves into common challenges couples face in navigating financial conversations, including polarization, over and under functioning, and differing spending habits. Dr. McCoy offers practical tips for addressing these challenges, suggesting open communication, understanding individual motivations, and using tools like "I statements". She also stresses the importance of recognizing and celebrating each partner's contributions, even those that may not be immediately visible. The conversation covers the significance of goal setting and the power of breaking down large goals into smaller, achievable steps. She recommends utilizing mental accounting, separating financial goals into distinct buckets, and focusing on experiences over material possessions. Finally, Dr. McCoy encourages listeners to embrace "boring investing" strategies for long-term financial security and reminds them that navigating financial challenges is a journey of growth and learning.

What we discussed

Understanding Money Beliefs: Dr. McCoy highlights how personal and couple's beliefs about money are often deeply rooted in childhood experiences and family dynamics. Recognizing and unpacking these beliefs is crucial for healthier financial management.
Navigating Financial Conversations: The episode emphasizes the importance of open communication and establishing ground rules for couples when discussing finances. This includes respecting differences, avoiding blame, and focusing on solutions.
Addressing Polarization and Role Dynamics: Dr. McCoy discusses how couples can fall into polarized roles, such as the "over-functioner" and the "under-functioner," when it comes to money. She encourages conscious awareness of these patterns and finding ways to share financial responsibilities more equitably.
The Importance of Goal Setting and Prioritization: The conversation explores the significance of both individual and shared financial goals. Dr. McCoy suggests breaking down large goals into smaller steps, utilizing mental accounting to manage resources, and understanding the motivations behind each individual's goals.
Avoiding Financial Anxiety and Embracing Long-Term Investing: The episode addresses the common fear of investing, particularly after experiencing losses. Dr. McCoy advocates for a long-term, diversified investment strategy and encourages listeners to embrace the power of consistent saving and investing.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Megan McCoy: Website |LinkedIn |

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter

PEOPLE & RESOURCES MENTIONED

Financial Therapy Association

Fair Play" by Eve Rodsky

The Gottman Method

The power of shared goals featuring Douglas and Heather Boneparth

jennifer@withplenty.com (Douglas Bonepart, Heather Bonepart, Emily Luk) — Wed, 26 Jun 2024 07:00:00 +0000

This episode of the Love & other assets podcast features a conversation with power couple Douglas and Heather Boneparth. The Boneparth's, authors of "Millennials and Money" and a forthcoming book on navigating power struggles in couples’ finances, offer invaluable insights into the dynamic between love and money, particularly for couples amid career changes, parenthood, and the ever-evolving landscape of modern finances.

They share their story of meeting in college, navigating their careers and the recession, and ultimately coming together to build their business. The Bonaparth's discuss the challenges and joys of working with your spouse, especially when navigating parenthood and the changing dynamics of income and household responsibilities. They emphasize the importance of communication, setting shared goals, and understanding each other's money personalities for a successful partnership. They also reveal their favorite Friday night ritual and their dream trip to Japan. The episode offers insights for couples on managing money, building a business together, and navigating the complexities of modern relationships.

What we discussed

Here are 5 key issues discussed in the episode:

Merging Finances and Navigating Debt: The Bonaparth's discuss their experience merging finances with significant student loan debt. This highlights the challenges of starting a relationship with financial burdens and the need for open communication about debt management.
Shifting Power Dynamics in Income: The episode explores how power dynamics in a relationship can change as income levels fluctuate. Heather's experience of being the initial breadwinner and then seeing Doug's income surpass hers exemplifies the potential for tension and the need for ongoing conversations about financial contributions.
Mental Load of Household Management: Heather emphasizes the significant mental load associated with managing a household, especially with children. This unseen work often falls disproportionately on women, leading to feelings of exhaustion and resentment.
Redefining Contribution Beyond Income: The couple challenges traditional views of "contribution," arguing that time, energy, and emotional labor are equally valuable in a relationship. This expands the conversation about equity to encompass more than just financial contributions.
Building a Business Together: The episode explores the challenges and rewards of working with your spouse. The Bonaparth's discuss the unique dynamics, communication needs, and potential for both personal and professional growth when building a business as a couple.

Listen to the full episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

SELECTED LINKS FROM THE EPISODE

Connect with Douglas Bonepart: Website |LinkedIn | X/Twitter

Connect with Heather Bonepart: Website | X/Twitter | Instagram

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter

PEOPLE & RESOURCES MENTIONED

The Millennial Money Fix

Money, power & communication in relationships featuring Adam Nash

jennifer@withplenty.com (Adam Nash, Emily Luk) — Wed, 12 Jun 2024 07:00:00 +0000

Welcome to the first episode of "Love & other assets," the podcast for where love and money meet. Hosted by Emily Luk, CPA, CFA, and co-founder of Plenty (withplenty.com), we demystify the financial decisions and relationship convos that today’s couples face. In this episode, Emily sits down with Adam Nash, CEO and co-founder of Daffy.org, and delves into their experiences in Silicon Valley, building successful startups, and navigating the complexities of relationships in the modern age.

Emily and Adam explore the importance of navigating financial decisions within partnerships. They emphasize the significance of building a life together and viewing finances as a shared endeavor rather than individual interests. Adam highlights the need to recognize and respect each partner's fears, interests, and skill sets, advocating for a balanced approach that suits the couple's dynamics.

Emily underscores the value of providing visibility and education within financial tools to ensure both partners can actively participate in decision-making. They discuss how Plenty's product is designed to accommodate different levels of involvement while encouraging shared understanding and involvement in financial matters.

The conversation leaves listeners with a reminder to approach financial decisions within partnerships with understanding, communication, and a shared sense of purpose.

What We discussed:

The Fintech Evolution: Adam Nash reflects on his extensive career in Silicon Valley and the evolution of Fintech, emphasizing technology's role in solving valuable financial problems for individuals, highlighting the importance of trust and accessibility in financial services.

Building Daffy: Empowering Generosity: Adam Nash shares the founding story of Daffy.org and his vision to leverage technology to foster a culture of generosity and make charitable giving accessible to all. The concept of donor-advised funds and their potential to amplify individuals' charitable impact.

Investing in Innovation: Adam Nash reflects on his experience as an angel investor in numerous startups, sharing insights into the startup ecosystem and the importance of supporting early-stage entrepreneurs. The significance of angel investors in driving innovation and entrepreneurship, shaping the future of technology.

Navigating Finances as a Couple: Adam Nash shares insights from teaching personal finance at Stanford University, emphasizing the importance of communication and trust in managing finances as a couple. The strategies for couples to effectively navigate financial conversations, align their goals, and build a secure financial future together.

Adam is offering Love & other assets listeners an extra $25 for charity when they sign-up for Daffy with his invite link: https://www.daffy.org/adamnash/invite

Brought to you by Plenty. Plenty is a financial platform where modern couples invest and plan for their future together.

SELECTED LINKS FROM THE EPISODE

Connect with Adam Nash: Website |LinkedIn | X/Twitter

Connect with Emily Luke: Website | LinkedIn | Twitter

Plenty: Website | Instagram | Facebook | YouTube | Twitter

PEOPLE & RESOURCES MENTIONED

Channing Allen

Daffy.org

Stanford University

IRA (Individual Retirement Account)

401k (Retirement savings plan)

529 Plan (Education savings plan)

Donor Advised Fund (DAF)

Family Office