WEBVTT

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coming up on the 40s formula when you are in

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debt it's like a prison yeah yeah and you feel

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like there's no way out Is there a way? There

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is a way. Own money habits are formed probably

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by age seven because every dollar extra you earn,

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you're paying your future self. And there are

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about four to five different money personalities.

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Until you understand that, you will never get

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a handle of your finances. If you leave money

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in cash, you're losing your purchasing power.

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There's never a good time. It's just, just do

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it now. The 40s Formula. The 40s Formula. The

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40s Formula. Hosted by Jasmine Dillon, integrated

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health strategist specializing in gut health,

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hormones, and midlife well -being. And Amanda

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Lim, director of Lift Clinic and a leading expert

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in female strength and metabolism. Named one

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of CNA's top podcasts and winner of the 2025

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Asia Podcast Awards in the Best Health and Wellness

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Podcast category. The 40s Formula is your no

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fluff, Science Meets Real Life Guide to Thriving

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in Your 40s. In this episode, we're diving into

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what it really means to build wealth in your

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40s, from investing wisely and managing debt

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to planning for retirement and creating financial

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freedom that actually supports the life you want.

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Your 40s are the decade that define your financial

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future, but most women don't even know it. Today,

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We show you how to change that. And if you enjoyed

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this episode, don't forget to like and subscribe

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and share it with a friend. Alexis, welcome to

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the 40s Formula. We're so glad that you're here.

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Thank you so much for having me. I'm really excited

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about today's episode. Yay, us too. And hey,

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knowing that you're a financial advisor, I'm

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going to hit you up for advice, okay? This is

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my privilege as host. What are the two most important

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things for women in their 40s to know about building

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wealth? I think... When you're in your 40s, it's

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really important to understand that you've still

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got time. I feel like a lot of women, when they

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hit their 40s, suddenly think, I'm running out

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of time. And it's purely because, you know, the

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20s to 30s just seems like they've gone by so

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quickly. They have. Oh, God, yes. Yeah. So I

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think it's really just slow down and take stock

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of where you are and really understand where

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are you wanting to go. Understand your value.

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at this age and just get really clear about what

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you're wanting to do. I want to be a billionaire.

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Yes, if I'm very clear about that. But really,

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truly, if you were to give a piece of advice

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for someone who just, you said clear about what

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they want, right? What they want is to get as

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much money as possible in their 40s. What's their

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first step? Education. You've got to educate

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yourself and understand. Your money that's coming

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into the household, where is it going? What are

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you spending it on? What are you wanting? Yeah.

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Children. What are you wanting your money to

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do for you? And if it's not working, take a step

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back, assess it. and change your relationship

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with money because the daily money habits that

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you start to bring into your household are going

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to make a big difference. I think that's something

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that I'm glad to hear you say, Alexis, because

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in the world of fitness and health, you know,

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where I exist, it's all about the compound interest

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of small habits, right? It's the small little

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things that we do every day that eventually,

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hey, you're a fit person. So what I'm hearing

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you say is like, it's the small ways that you

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manage money on a day -to -day basis and suddenly

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you're a rich person. If you want to be. Yeah,

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just automate it. You know, how we pay for our

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Netflix and we pay for all these other subscriptions.

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Automate your wealth. And it's kind of in your

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mind you've already ticked it off. Oh, I love

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that. So would you recommend then having a certain

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amount of savings going in versus, you know,

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sorry, in comparison to how much you're earning,

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like what's the ideal number we're looking at

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then? I think for everyone it's different. And

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it's very hard for me to say, look, it should

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be 20 % or it should be 30 % because there may

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be some women that will go, actually, that will

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leave me tied because I know I've got. kids activities

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to pay for or actually I really don't want to

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sacrifice this one time I get to go and exercise

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or go out so I think it's about taking stock

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and saying what is affordable and actually if

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it is five hundred a thousand dollars am I going

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to have to change my lifestyle dramatically is

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it going to make me feel pressured or actually

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is that money that is comfortable to go and when

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it comes to investments Just putting it into

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a bank account, is that the best way to manage

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your finances? Or do you recommend doing something

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more with it? With every client, I'm always very

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simple with clients because I feel like we overcomplicate

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the basics and it really puts people off. And

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it's probably the same in fitness. Absolutely

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the same. So keep it simple. Make sure that everyone

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understands it. And you've already got the commitment

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there. So with every client, I'll talk about

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three buckets. The first one being your instant

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access, you know, money that you're going to

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get cash out, spend it on everyday living. Your

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second one is your emergency fund. So it's in

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reach, but it's a little bit further away. And

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that still would be cash. And that would be,

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you know, maybe a year's worth of expenditure,

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a little bit more. And then your third pot is

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your investing pot. And that is something that

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we're going to push to the side and we're going

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to leave to let grow. So you do suggest kind

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of that longer term. approach for that third

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bucket of money. Yeah. OK, so let's talk about

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two things that might be in that third bucket

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that intimidate the hell out of me. OK, one is

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is property investing. So the idea of having

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property to appreciate. And one is the stock

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market, which is like not the long term investment

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necessarily kind of could be, you know, a bit

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shorter term. Are these necessary things that

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women need to master in their 40s? Like basically

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by this age, should we be owning property and

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in the market at to some extent? I believe so.

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And it's typically because if you leave money

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in cash, we know, history tells us, that that

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money is just not going to grow as much as property

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or the stock market or any other investments.

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So we really do have to start thinking differently

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with that third pot of money to say, how do we

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want that to... to behave how do we want that

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to grow and also how is that going to pay my

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future self yeah and if it's a cash and it's

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in low interest that's not really going to do

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it and that's the bank account thing right I

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mean money in a bank account like it's making

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money but is it because if you account for inflation

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and all that right yes and that interest rate

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it seems to be so low yeah yeah and do you need

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to have like a an appetite for risk then if you're

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looking at stocks and and shares, is that something

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that you need to be into? Or is there like a

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more safer option for investing? I think it's

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your relationship with risk, again, is different

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for everyone. And it's based on your own family

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dynamic and what you're wanting to do with money.

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But even leaving cash in the bank account, there

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is a risk. There's a risk that you're losing

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your purchasing power. And you're saying, I'm

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okay to do that. But there's always an opportunity

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cost with everything you do. So I think it's

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understanding the relationship between risk and

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reward. And if you imagine like a pyramid, you

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know, the higher you are up to the pointy end,

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the higher the potential risk, but the higher

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the potential reward. So as a client, I'd be

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thinking, do I have a little bit of color? in

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each one of those steps. Do I have a gradient

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pyramid of money and investments? The ombre effect.

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Yes, the ombre pyramid, if you will. And just

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understanding that and saying, well, actually,

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if I'm all in that bottom foundation and I'm

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cash, is that going to take me to the next step?

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But on the flip side, if I'm all really in the

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pointy end and it keeps me awake at night, it's

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affecting my day -to -day decisions. that's probably

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not right for you either that sounds very stressful

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it is that that's how that reminds me of like

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gambler you know people who are like gamblers

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you know it's like they just literally like are

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on edge all the time that they're going to be

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broke it's like no I can't live that way when

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you talked about long term right so like kind

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of making sure that you're you're investing something

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that like will pay off down the line this is

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something I definitely struggle with in explaining

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to my own clients so for example we're always

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talking about if you're trying to lose weight,

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doing it the slow and steady way so that you

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maintain your muscle mass, so that your metabolism

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can function, you know, optimally into the future,

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blah, blah, blah, right? It's a hard sell. This

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is my whole point, right? Like, I feel like we

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all glazed over when I just said that sentence.

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Like, you know, it's like, it's a hard sell that's

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like, this is something good for your future,

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you know, but it is, but it's hard to sell the

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future. How do you help women kind of conceptualize

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this distant future where they have the life

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that they want? I think it's definitely about

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visualization. and trying to take your clients

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on a journey to say, look, you're 42 now. When

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do you want to be more flexible with work? Not

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retire, just be more flexible. And maybe that's

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62. Now imagine yourself at 62. Are you living

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in abundance? Or are you scrumping and saving?

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Because those are two realities. And I'm sure

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we all know women in our lives, in our family,

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that are living those two different versions.

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We have a choice at this point in time to choose

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which one. And if we make small daily habits,

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we're disciplined. You know, over time, that's

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going to be in your favor and you are paying

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for your future you. Give us some small habits

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that matter. You know, again, in health, there's

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so many things that people do that don't matter.

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And then they look over the things that do. What

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are the things that matter financially? You've

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got to have a budget. And I know it seems really

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boring, but you have to. And same with the gym.

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And when you're taking kids to school, you have

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to have a timetable. So what does your budget

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look like? Colour code it, make it look nice.

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But there has to be savings in there. And it

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has to be in those three pots. And you're driving

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those pots forward. So saving monthly, putting

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something away for your future self is really

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important. And let time do its side. And in terms

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of a budget, you mentioned monthly. So are we

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reviewing our budget monthly? Are we doing like

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an annual thing and just kind of setting up the

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automations that hit monthly? What's your advice?

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I think depending on your pay. So if you're paid

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fortnightly, let's look at taking something out

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fortnightly. If you're paid monthly, let's do

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that. But it's just trying to get into the rhythm

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of when all your other subscriptions go out,

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your memberships, let's have... you know, your

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savings out at the same time. Okay. Let's talk

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about the little subscriptions. I always think

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so. So there was a point where we had Disney

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plus Netflix, Hulu, something, something, something.

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And finally my husband was like, pick one. We're

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doing one. Cause it's like that little $12 every

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month was like really starting to add up across

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five memberships. Where are some blind spots

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that women aren't thinking about in terms of

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cutting back some of those excess expenses? I

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think if I reflect on myself. It's probably being

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too emotional with money. And if I'm, you know,

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I can be emotional if I'm in the shops and I

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can have that. I'm going to buy this because

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it's going to make me feel better, make me look

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better. But do I know if I go back to my wardrobe,

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I've probably got that dress in. The same colour,

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the same cut. Yeah. Probably. That's usually

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me. If I like something, I'll buy like three

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different versions of this same outfit. But I

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also noticed, so one of the things I found about

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myself is I can very easily buy things for my

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kids, my husband, other people. But when it comes

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to me, I'm like, I have to love it. I have to

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really, you know, like I have to see something.

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then leave the shop. And then if I'm still thinking

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about it, I then go back and get it. I can't

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instantly buy it. My husband, on the other hand,

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is completely different. He's like, I need a

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TV. He's going to go into a shop. He's going

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to buy the TV. Yeah, there's no guilt, but also

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no like thought process. For me, I think about

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it and think about it. And then I go back and

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it's gone. And then I'm like, nah, I missed my

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chance. Now, do you find people do that with

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money as well? Like, you know, when it comes

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to say investing something, can you miss your

00:12:23.070 --> 00:12:26.149
chance on certain investments? Yeah. If you if

00:12:26.149 --> 00:12:28.450
you spend too long thinking about it. Absolutely.

00:12:28.610 --> 00:12:31.529
And, you know, you might say, well, it's not

00:12:31.529 --> 00:12:34.350
a good time now. But when is a good time? And

00:12:34.350 --> 00:12:37.610
actually, are you in a position to make that

00:12:37.610 --> 00:12:40.250
decision? Again, that comes back to healthy habits

00:12:40.250 --> 00:12:42.009
as well, doesn't it? You know, there's there's

00:12:42.009 --> 00:12:44.629
never a good time. It's just just do it. Do it

00:12:44.629 --> 00:12:46.769
now. We were talking about yoga off air before

00:12:46.769 --> 00:12:48.370
this. And it's like I love when I invite someone

00:12:48.370 --> 00:12:49.730
to yoga and they're like, oh, I'm not flexible

00:12:49.730 --> 00:12:52.009
enough for that yet. I was like, how do you think

00:12:52.009 --> 00:12:54.549
you get flexible? Like you must go to the thing

00:12:54.549 --> 00:12:56.370
and get flexible. You're not just going to wake

00:12:56.370 --> 00:12:58.509
up one day and be like, I'm ready for yoga. So

00:12:58.509 --> 00:13:00.529
I feel like investing is the same. You just got

00:13:00.529 --> 00:13:02.750
to, you know, dip a toe, jump in. Absolutely.

00:13:02.889 --> 00:13:04.389
And how do you know when you're ready though?

00:13:04.529 --> 00:13:07.389
Like how would you be like, right, now is the

00:13:07.389 --> 00:13:09.730
moment that I'm going to put this money into

00:13:09.730 --> 00:13:11.950
this thing. Well, you've got to have done your

00:13:11.950 --> 00:13:13.990
homework. So you do need to speak to someone,

00:13:14.129 --> 00:13:17.570
financial advisor, trusted, someone in your circle.

00:13:17.929 --> 00:13:20.750
And like I said, understand. the money that you've

00:13:20.750 --> 00:13:23.710
got and have you got enough money in cash? And

00:13:23.710 --> 00:13:25.750
then when you are investing, whether it be in

00:13:25.750 --> 00:13:28.789
the property or the stock market, the daily fluctuations,

00:13:28.789 --> 00:13:31.490
they're actually not going to affect your day

00:13:31.490 --> 00:13:34.009
-to -day behavior. And that's the most important

00:13:34.009 --> 00:13:38.009
thing. If you go all in, you know, that's when

00:13:38.009 --> 00:13:40.490
people get it wrong and they get too emotional

00:13:40.490 --> 00:13:43.509
and they get stressed about it. And then that's

00:13:43.509 --> 00:13:45.409
just not healthy. And that's the putting all

00:13:45.409 --> 00:13:48.289
your eggs in one basket. Absolutely. Yeah. Yeah.

00:13:48.350 --> 00:13:50.669
So talk about that. If you were to think about

00:13:50.669 --> 00:13:55.009
an ideal client profile, this client is us. So,

00:13:55.009 --> 00:13:57.269
again, I'm asking for free advice this entire

00:13:57.269 --> 00:14:00.110
episode, Alexis. So you got women in their 40s.

00:14:00.110 --> 00:14:01.730
We got kids. Yeah. All right. So we're married

00:14:01.730 --> 00:14:04.110
with children. So we have, you know, future like

00:14:04.110 --> 00:14:06.149
we're doing financial planning for not just ourselves.

00:14:06.490 --> 00:14:10.230
OK, what would our ideal profile look like in

00:14:10.230 --> 00:14:12.210
terms of where we would be investing our money?

00:14:13.409 --> 00:14:15.909
Depends what you want to do. Okay. And it feels

00:14:15.909 --> 00:14:17.509
like I'm bashing off a lot of these questions,

00:14:17.610 --> 00:14:19.710
but I don't mean to be. What I'm trying to say

00:14:19.710 --> 00:14:22.490
is everyone is different, but we know women generally

00:14:22.490 --> 00:14:25.210
live longer than men. Yes. So if we are planning

00:14:25.210 --> 00:14:27.529
for the hundred year life. Yes. We need money.

00:14:27.549 --> 00:14:28.809
Definitely are planning for the hundred year

00:14:28.809 --> 00:14:31.409
life. So we need money to sustain that. So what

00:14:31.409 --> 00:14:34.409
have we got now? What would we like in the future?

00:14:34.649 --> 00:14:36.769
When would we like to stop work? What type of

00:14:36.769 --> 00:14:39.090
money would we like? and actually let's then

00:14:39.090 --> 00:14:41.450
work backwards to understand, well, what do we

00:14:41.450 --> 00:14:44.649
need to do now? And that's that small monthly

00:14:44.649 --> 00:14:47.250
habit because actually if you break it down,

00:14:47.350 --> 00:14:50.269
it actually feels okay. It feels like it's doable.

00:14:50.669 --> 00:14:53.429
So that would be my advice there. And then when

00:14:53.429 --> 00:14:55.990
you're thinking about the children, it's probably

00:14:55.990 --> 00:14:58.070
focusing on education to say, well, what would

00:14:58.070 --> 00:15:00.309
you like your children to do? While we're here

00:15:00.309 --> 00:15:02.809
in Singapore, potentially we've got the school

00:15:02.809 --> 00:15:05.549
fees, but if they're going on to university in

00:15:05.549 --> 00:15:08.029
different countries, That can be very expensive.

00:15:08.679 --> 00:15:11.480
Oh, yeah. And again, that's where our profiles

00:15:11.480 --> 00:15:13.519
would probably differ very, very much because

00:15:13.519 --> 00:15:15.620
you have the international school fees and I

00:15:15.620 --> 00:15:20.120
have local school. So my school fees are a distant

00:15:20.120 --> 00:15:23.740
fear rather than an immediate concern. So if

00:15:23.740 --> 00:15:25.519
you know you have that coming up, then already

00:15:25.519 --> 00:15:27.600
we've got the time frame because we know, well,

00:15:27.639 --> 00:15:30.039
actually, if I'm going to give up work at 60,

00:15:30.259 --> 00:15:33.580
I'm now 40, there's 20 years. That's a long time.

00:15:33.740 --> 00:15:36.620
Imagine from 20 to 40 what you could have achieved.

00:15:36.820 --> 00:15:39.879
Well. That's assuming I had any money from 20

00:15:39.879 --> 00:15:42.220
to 26. That's the problem, isn't it? It's like,

00:15:42.440 --> 00:15:45.480
you got no money. But now that's the point. At

00:15:45.480 --> 00:15:48.019
40, we should be in this stage of life where

00:15:48.019 --> 00:15:51.399
we can see our value. Maybe our earnings are

00:15:51.399 --> 00:15:54.220
apportionate to that. So let's get going. But

00:15:54.220 --> 00:15:56.759
let's talk about that. So let me paint a profile

00:15:56.759 --> 00:15:59.419
of two, you know, what is like a story of...

00:15:59.659 --> 00:16:02.379
two cities, whatever. First, we have the woman

00:16:02.379 --> 00:16:05.360
who is 44 because research shows us that that's

00:16:05.360 --> 00:16:07.399
when most women's peak earnings are happening

00:16:07.399 --> 00:16:11.559
at age 44. So we have the 44 year old CEO, high

00:16:11.559 --> 00:16:13.799
earner. She's worked her butt off to get there.

00:16:14.000 --> 00:16:16.620
She's, you know, killing it on every front. Then

00:16:16.620 --> 00:16:19.940
we also have the 44 year old mom with let's,

00:16:19.940 --> 00:16:22.860
this person is a mother, let's say with teenagers

00:16:22.860 --> 00:16:26.259
now, hasn't been in the workforce since she had

00:16:26.259 --> 00:16:28.679
the babies and is coming back in. So we have

00:16:29.149 --> 00:16:32.389
Peak earner CEO person we have hasn't been in

00:16:32.389 --> 00:16:36.049
the workforce in 10, 12 years person. What decisions

00:16:36.049 --> 00:16:38.929
could either of them make to maximize what they

00:16:38.929 --> 00:16:40.789
are doing with their money in their 40s? I think

00:16:40.789 --> 00:16:43.309
it comes down to that value piece again. Understand

00:16:43.309 --> 00:16:46.529
what your value is. If you're the CEO. What's

00:16:46.529 --> 00:16:49.250
your value in the workplace? Are you being remunerated

00:16:49.250 --> 00:16:52.190
based on your value? Are you negotiating hard

00:16:52.190 --> 00:16:54.750
to make sure you're getting the most because

00:16:54.750 --> 00:16:57.049
you know you're at your peak earnings? So is

00:16:57.049 --> 00:16:58.690
this the time to do those hard negotiations?

00:16:58.690 --> 00:17:02.289
Be like, you got me at my peak, pay it up. You've

00:17:02.289 --> 00:17:04.410
got the tenure, you've got the experience, you've

00:17:04.410 --> 00:17:06.990
got the industry connections. So really work

00:17:06.990 --> 00:17:09.849
that and push that forward because every dollar

00:17:09.849 --> 00:17:12.880
extra you earn. you're paying your future self.

00:17:13.019 --> 00:17:15.539
And then for someone that's not working and potentially

00:17:15.539 --> 00:17:18.819
thinking about reentering the workforce, upskill

00:17:18.819 --> 00:17:21.559
yourself, educate yourself. And again, understand

00:17:21.559 --> 00:17:24.609
the value that you are already. playing in the

00:17:24.609 --> 00:17:27.190
household because there is a monetary value on

00:17:27.190 --> 00:17:29.509
you. It's just we don't do a good enough job

00:17:29.509 --> 00:17:31.690
to say, well, actually, that's what it is. Yeah.

00:17:31.809 --> 00:17:34.430
So maybe you're feeling undervalued. Maybe you're

00:17:34.430 --> 00:17:36.730
feeling like you're not contributing, but you

00:17:36.730 --> 00:17:39.390
really are. And then that's that conversation

00:17:39.390 --> 00:17:41.549
with the significant other in the household to

00:17:41.549 --> 00:17:44.130
say, well, hang on a minute. I've been out of

00:17:44.130 --> 00:17:48.089
work for five, 10 years. Where's my retirement?

00:17:48.650 --> 00:17:50.990
And actually, where is the money in the household?

00:17:51.210 --> 00:17:54.380
Yeah. Education, clarity. Yeah, it's so important.

00:17:54.400 --> 00:17:56.059
It's just something you don't think about, do

00:17:56.059 --> 00:17:57.559
you? Like you get to 40 and you think, oh, I'm

00:17:57.559 --> 00:18:00.880
too old now. I need to just get on with it. But

00:18:00.880 --> 00:18:04.799
I guess, you know, having the opportunity and

00:18:04.799 --> 00:18:09.140
even the, you know, just to get out there and

00:18:09.140 --> 00:18:11.740
re -educate yourself, re -skill yourself is such

00:18:11.740 --> 00:18:15.279
a big thing to do. Yeah, which again, love Singapore

00:18:15.279 --> 00:18:17.599
for this because they actually incentivize people

00:18:17.599 --> 00:18:19.279
to do that here with the Skills Future program.

00:18:19.359 --> 00:18:22.650
It's amazing. Yeah. So, OK, so I'm a woman in

00:18:22.650 --> 00:18:24.690
my 40s and let's say I'm going to play woman

00:18:24.690 --> 00:18:26.509
A for this one. I'm going to be the CEO. OK,

00:18:26.549 --> 00:18:29.910
so I'm like, that means I'm the other one. You

00:18:29.910 --> 00:18:32.190
know, it doesn't need to be so either way. And

00:18:32.190 --> 00:18:34.730
I've negotiated myself up to like a banger salary.

00:18:34.829 --> 00:18:37.329
And I know for a fact this is me at my peak.

00:18:37.589 --> 00:18:41.549
OK, but I am going to exhaust myself at this

00:18:41.549 --> 00:18:44.430
level. I think what's under that high earnings

00:18:44.430 --> 00:18:47.029
umbrella, right, is this person who doesn't want

00:18:47.029 --> 00:18:49.609
to do this forever. and is very conscious of

00:18:49.609 --> 00:18:51.490
the fact of the trade -offs they're making to

00:18:51.490 --> 00:18:54.029
be there. Is this a conventional client for you?

00:18:54.069 --> 00:18:56.130
Is this someone that you see? Absolutely. Okay.

00:18:56.410 --> 00:19:00.369
And how would you advise them to utilize their

00:19:00.369 --> 00:19:03.049
peak wealth knowing, so you said, you know, it's

00:19:03.049 --> 00:19:04.549
important to know what their next steps are,

00:19:04.609 --> 00:19:06.690
knowing they want to be out of the workforce

00:19:06.690 --> 00:19:10.650
by 54. So they're 44 peaking out, 54 they want

00:19:10.650 --> 00:19:12.890
to be out. Yeah. What does that 10 years look

00:19:12.890 --> 00:19:16.539
like? Head down. You know, you've got your head

00:19:16.539 --> 00:19:18.420
down at work, but you're pushing your value,

00:19:18.480 --> 00:19:20.579
but you're also understanding your finances and

00:19:20.579 --> 00:19:22.920
you're saying, what have I got? Is it working

00:19:22.920 --> 00:19:26.279
for me? Is it aligned with my values? And where's

00:19:26.279 --> 00:19:28.660
it going to take me? And I find like when we're

00:19:28.660 --> 00:19:31.420
in our 40s, we've collected assets. They might

00:19:31.420 --> 00:19:34.019
be from different countries. What are they doing?

00:19:34.180 --> 00:19:36.519
Are they working for me? So really getting a

00:19:36.519 --> 00:19:40.380
handle on what you've got, but also being very

00:19:40.380 --> 00:19:44.180
conscious around what could go wrong. If I am

00:19:44.180 --> 00:19:47.440
running at 110 miles an hour, the wheels are

00:19:47.440 --> 00:19:49.859
going to start falling off. So what am I doing

00:19:49.859 --> 00:19:52.500
to try and mitigate that? I love this parallel

00:19:52.500 --> 00:19:56.759
between investing and finance and actually just

00:19:56.759 --> 00:19:59.359
your general well -being. Yeah. It's all the

00:19:59.359 --> 00:20:00.740
same, isn't it? It's the most natural metaphor

00:20:00.740 --> 00:20:03.440
that exists. Yeah. It's like you would never

00:20:03.440 --> 00:20:07.440
think that those two are, you know, working.

00:20:08.029 --> 00:20:10.009
parallel or, you know, in line with each other.

00:20:10.109 --> 00:20:13.430
But actually, whatever applies in the investment

00:20:13.430 --> 00:20:16.089
world and your financial space, it also implies

00:20:16.089 --> 00:20:18.789
just in your general day to day life. Yes. The

00:20:18.789 --> 00:20:21.210
budget thing, right? You said the first thing

00:20:21.210 --> 00:20:23.349
that's most important for women to know is where

00:20:23.349 --> 00:20:25.769
their money is going. When somebody comes to

00:20:25.769 --> 00:20:27.809
see me and they want to lose weight or gain weight,

00:20:27.849 --> 00:20:30.509
gain muscle mass, where are your calories going?

00:20:30.970 --> 00:20:32.450
What are you spending? What are you intaking?

00:20:32.609 --> 00:20:35.789
Right. And the refusal to participate in that

00:20:35.789 --> 00:20:38.329
type of evaluation almost ensures you will not

00:20:38.329 --> 00:20:41.190
be successful. And I would say, not being a financial

00:20:41.190 --> 00:20:43.410
pro, that that must be the same for money. If

00:20:43.410 --> 00:20:46.029
you refuse to look at it and kind of just let

00:20:46.029 --> 00:20:48.450
fear guide your decisions. And again, I'm still

00:20:48.450 --> 00:20:50.970
the CEO in this example. So I know I'm making

00:20:50.970 --> 00:20:53.509
money, but I don't want to look at where it's

00:20:53.509 --> 00:20:55.369
going. I just want to kind of sit on my pile.

00:20:55.869 --> 00:20:57.690
You know, I think that there's a problem there.

00:20:58.039 --> 00:21:00.960
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00:21:59.769 --> 00:22:02.130
And there are about four to five different money

00:22:02.130 --> 00:22:06.039
personalities. And we will fall into one of those.

00:22:06.079 --> 00:22:07.460
What are they? Tell us about the person. Oh,

00:22:07.519 --> 00:22:11.599
let's take the quiz, Alexis. It's really interesting.

00:22:11.680 --> 00:22:14.460
And I would recommend anyone to go and work out

00:22:14.460 --> 00:22:16.599
what your money personality is. Because until

00:22:16.599 --> 00:22:19.259
you understand that, you will never get a handle

00:22:19.259 --> 00:22:21.920
of your finances. And then work out what your

00:22:21.920 --> 00:22:24.980
partners are. And you will communicate very differently.

00:22:25.319 --> 00:22:27.599
So it's like love languages. Oh, yeah. But minor

00:22:27.599 --> 00:22:32.720
language. Yeah. So one, for example, is an ostrich.

00:22:32.880 --> 00:22:34.259
You put your head in the sand and that could

00:22:34.259 --> 00:22:38.099
be the CEO. That's this gal. You think, well,

00:22:38.160 --> 00:22:39.980
you are earning good money, but you don't know

00:22:39.980 --> 00:22:43.160
where it's going. But you go, it will work itself

00:22:43.160 --> 00:22:45.420
out. And then you get to that point where the

00:22:45.420 --> 00:22:47.119
wheels have fallen off. Yeah, because the world

00:22:47.119 --> 00:22:49.640
tells you as long as you make, now you're a millionaire,

00:22:49.819 --> 00:22:52.299
so that must be enough. So just, yep, assume

00:22:52.299 --> 00:22:54.140
it'll all work. Which is still not happy. How

00:22:54.140 --> 00:22:56.079
did that happen? I should be happy. Yeah, and

00:22:56.079 --> 00:22:58.759
you're still out in control. Yeah, exactly. And

00:22:58.759 --> 00:23:00.220
then on the other side, there's someone that's

00:23:00.220 --> 00:23:03.329
so cautious. You know, maybe. we know money um

00:23:03.329 --> 00:23:08.109
habits are formed probably by age seven wow really

00:23:08.109 --> 00:23:10.750
that's true yeah oh that means my twins are getting

00:23:10.750 --> 00:23:14.509
there now oh wow so if i've grown up in a house

00:23:14.509 --> 00:23:18.730
where we're watching every penny um we're seeing

00:23:18.730 --> 00:23:20.970
the parents work really hard i naturally may

00:23:20.970 --> 00:23:24.210
have this relationship with money where i'm not

00:23:24.210 --> 00:23:26.230
going to spend anything yeah and therefore i

00:23:26.230 --> 00:23:29.430
miss the opportunity And I live in fear that

00:23:29.430 --> 00:23:31.430
I'm never going to have enough when actually

00:23:31.430 --> 00:23:35.250
all it takes is for someone to say, you're doing

00:23:35.250 --> 00:23:37.069
really well. You just need to read about it.

00:23:37.069 --> 00:23:38.910
I wonder if that's me. I wonder if that's why

00:23:38.910 --> 00:23:41.009
I can't spend on myself. But I can spend on other

00:23:41.009 --> 00:23:43.549
people. So I don't know. That's a sign of love.

00:23:43.589 --> 00:23:45.710
When you have children, your money then changes

00:23:45.710 --> 00:23:48.789
and you're providing, especially for women. And

00:23:48.789 --> 00:23:52.009
it's really important to understand. Men's relationship

00:23:52.009 --> 00:24:00.170
with money is so different to women's relationship

00:24:00.170 --> 00:24:03.769
with money. And we are providers. We're caregivers.

00:24:04.009 --> 00:24:06.869
We never just think about money selfishly. We're

00:24:06.869 --> 00:24:08.490
thinking about children. We're thinking about

00:24:08.490 --> 00:24:11.849
mothers, friends. So when we do make a financial

00:24:11.849 --> 00:24:14.970
decision, we're committed. And women are fantastic

00:24:14.970 --> 00:24:18.690
investors once we get going. That makes total

00:24:18.690 --> 00:24:21.349
sense. Can you talk to us? I'm still hung up

00:24:21.349 --> 00:24:24.150
on this age seven money habits thing. Can you

00:24:24.150 --> 00:24:26.450
talk to us about that? Like, do you know about

00:24:26.450 --> 00:24:29.509
that research? Like how how what contributes

00:24:29.509 --> 00:24:32.809
to children's money habits? Like what types of

00:24:32.809 --> 00:24:34.210
things in the household you mentioned? If you

00:24:34.210 --> 00:24:36.049
grew up in a penny pinching household, if you

00:24:36.049 --> 00:24:37.690
envision, you know, if you see your parents working

00:24:37.690 --> 00:24:39.849
a lot of hours, are there other factors that

00:24:39.849 --> 00:24:41.549
contribute to the money mindset? Yes. How you

00:24:41.549 --> 00:24:44.269
talk about money. So when you the children around,

00:24:44.470 --> 00:24:46.670
how are you and your husband, how are you and

00:24:46.670 --> 00:24:50.069
your friends talking about money? And what are

00:24:50.069 --> 00:24:52.309
the children then picking up from that? So how

00:24:52.309 --> 00:24:54.329
should you be talking about money? Because I

00:24:54.329 --> 00:24:56.289
do, and I catch myself doing it, you know, sometimes

00:24:56.289 --> 00:24:58.710
if my kids are, I don't know, wasting something,

00:24:58.829 --> 00:25:00.690
I'll be like, you know, that cost a lot of money.

00:25:00.809 --> 00:25:03.710
Or I'll say, your dad's working hard for this.

00:25:03.730 --> 00:25:05.609
And now I'm thinking, oh shit, what am I saying

00:25:05.609 --> 00:25:07.609
to my children? But how should you be talking

00:25:07.609 --> 00:25:10.170
about money? Because obviously I don't want them

00:25:10.170 --> 00:25:12.589
to take money for granted because then they're

00:25:12.589 --> 00:25:14.230
just never going to appreciate it and never really

00:25:14.230 --> 00:25:16.450
understand the value. But I also then don't want

00:25:16.450 --> 00:25:21.559
to be like... scaring them off. I think it's

00:25:21.559 --> 00:25:24.519
always being positive about money, but it's really

00:25:24.519 --> 00:25:26.460
important that the kids understand where's the

00:25:26.460 --> 00:25:29.339
money coming from. So when mum and dad leaves

00:25:29.339 --> 00:25:32.819
at 7, 7 .30 and is not there for the wave off

00:25:32.819 --> 00:25:35.730
at school time and pick up. There's a sacrifice

00:25:35.730 --> 00:25:38.710
there that we're making. Have we talked to that,

00:25:38.750 --> 00:25:40.210
you know, at a suitable age of the children?

00:25:40.289 --> 00:25:42.950
Do they understand that? And let's give them

00:25:42.950 --> 00:25:45.369
clarity. But also we're talking about money.

00:25:45.430 --> 00:25:47.869
We're talking positively about money. And we're

00:25:47.869 --> 00:25:50.529
also talking positively about what money is enabling

00:25:50.529 --> 00:25:53.930
us to do. This holiday, this school, you know,

00:25:53.930 --> 00:25:57.490
and it's trying to build that conscious decision

00:25:57.490 --> 00:25:59.750
with children that there's always a choice with

00:25:59.750 --> 00:26:02.349
money. And that brings us back to food and health

00:26:02.349 --> 00:26:04.269
as well. It's like we're always talking about

00:26:04.269 --> 00:26:07.390
how food gives us energy. Food allows us to play,

00:26:07.569 --> 00:26:09.130
you know, stuff like that. And it's like that's

00:26:09.130 --> 00:26:11.390
how they start to connect what food does for

00:26:11.390 --> 00:26:12.990
us. And similarly, they should know what money

00:26:12.990 --> 00:26:14.910
does for us because these are going to be vital

00:26:14.910 --> 00:26:16.910
parts of their life for the rest of their lives.

00:26:17.170 --> 00:26:19.809
Absolutely. Yeah, so smart. It's time now for

00:26:19.809 --> 00:26:22.269
our favorite feature, Alexis, sponsored by the

00:26:22.269 --> 00:26:25.430
Meat Club called Fuel Your 40s. And each week

00:26:25.430 --> 00:26:27.769
we ask our guests how food kind of fuels their

00:26:27.769 --> 00:26:30.200
life and their work and for you. Alexis, thinking

00:26:30.200 --> 00:26:32.900
about our investment mindset here, thinking about

00:26:32.900 --> 00:26:35.539
protein as an investment in our long term health.

00:26:35.680 --> 00:26:38.400
What kind of meats or proteins in your life do

00:26:38.400 --> 00:26:40.849
you feel kind of pays the biggest dividend? So

00:26:40.849 --> 00:26:42.569
when I think about our family, we eat a lot of

00:26:42.569 --> 00:26:48.029
chicken and steak. Oh, cool. Unanimous decision.

00:26:48.490 --> 00:26:50.569
Yeah, I'm a big believer that you've got to get

00:26:50.569 --> 00:26:54.089
the foundation right for myself, you know, because

00:26:54.089 --> 00:26:57.210
I've got a busy job. I need to eat well. I need

00:26:57.210 --> 00:26:59.089
to look after my health so then I could be the

00:26:59.089 --> 00:27:02.609
best for my clients, but also for my family and

00:27:02.609 --> 00:27:04.990
the children the same. What's your favorite cut

00:27:04.990 --> 00:27:08.420
of steak? The way my husband cooks it on the

00:27:08.420 --> 00:27:12.559
book. Big shout out, Alexis's husband, way to

00:27:12.559 --> 00:27:16.339
cook. I love that. Well, you mentioned previously

00:27:16.339 --> 00:27:19.299
about the ostrich profile, right? So head down,

00:27:19.420 --> 00:27:22.140
don't like think about money. And then the one

00:27:22.140 --> 00:27:23.900
that's like, you know, keep it close to the vest.

00:27:23.980 --> 00:27:26.019
What are some other conventional money profiles,

00:27:26.220 --> 00:27:28.579
particularly that you see with women? I feel

00:27:28.579 --> 00:27:32.529
like we get FOMO. So we suddenly get to the 40s

00:27:32.529 --> 00:27:35.250
and there's so much social media around where

00:27:35.250 --> 00:27:37.349
we go, oh, I should be doing that. I haven't

00:27:37.349 --> 00:27:39.849
got any crypto. I need to be doing that. Yes.

00:27:40.970 --> 00:27:43.450
No joke. That is something that I think everyone's

00:27:43.450 --> 00:27:44.990
talking about crypto. I'm like, OK, do I need

00:27:44.990 --> 00:27:46.509
to be investing in crypto? Like, what does it

00:27:46.509 --> 00:27:48.670
even mean? Yes. What are your thoughts on that?

00:27:49.440 --> 00:27:51.839
All down to your risk profile. Yeah. You know,

00:27:51.839 --> 00:27:54.140
and it keeps, it sounds very boring that I keep

00:27:54.140 --> 00:27:56.619
coming back to it, but it's so true because if

00:27:56.619 --> 00:27:59.680
you are this person about money, me going, I

00:27:59.680 --> 00:28:04.480
think you should invest in crypto. Yeah. So it's,

00:28:04.480 --> 00:28:07.880
it's all about for me understanding what. You

00:28:07.880 --> 00:28:10.279
know, the client's money personality is relationship

00:28:10.279 --> 00:28:13.140
with money and then aligning with what we're

00:28:13.140 --> 00:28:15.400
doing. Do you make your clients do the quiz?

00:28:15.460 --> 00:28:17.640
It's like a quick checklist. Did you run this

00:28:17.640 --> 00:28:19.660
quiz before we decided what to do? I don't, but

00:28:19.660 --> 00:28:21.440
there's questions because I've been doing this

00:28:21.440 --> 00:28:23.339
for a long time. There's a lot of questions that

00:28:23.339 --> 00:28:26.519
I will ask and it's never just about finance.

00:28:26.660 --> 00:28:30.140
It's everything else. So I get to know the clients

00:28:30.140 --> 00:28:33.019
really on a personal level and then whatever

00:28:33.019 --> 00:28:35.859
I go away and recommend, it's completely aligned.

00:28:36.910 --> 00:28:39.089
And are your clients conventionally coming in

00:28:39.089 --> 00:28:42.109
alone or with partners or is it either one? It's

00:28:42.109 --> 00:28:45.029
a mix. It's a mix. I deal with a lot of women.

00:28:45.589 --> 00:28:48.869
So they come in independently more often than

00:28:48.869 --> 00:28:51.109
not. Oh, I like that. Get it, girls. Yep. And

00:28:51.109 --> 00:28:53.470
they're just understanding, taking stock of where

00:28:53.470 --> 00:28:56.089
they are. Yeah. And then it's a question to say,

00:28:56.150 --> 00:28:58.630
well, are we then merging finances? Are we keeping

00:28:58.630 --> 00:29:00.809
them separate? And that's an open conversation.

00:29:01.329 --> 00:29:04.730
Do you find that? Because I guess like in Singapore,

00:29:04.930 --> 00:29:08.349
there's that traditional setup. Yeah, exactly.

00:29:08.470 --> 00:29:11.450
Where the husband's the earner, the wife's been

00:29:11.450 --> 00:29:14.069
the dependent. So, you know, like he seems to

00:29:14.069 --> 00:29:16.490
be in control financially. In other parts of

00:29:16.490 --> 00:29:18.130
the world, I guess, you know, you do have the

00:29:18.130 --> 00:29:20.789
split accounts. I'm going to be honest, in our

00:29:20.789 --> 00:29:25.269
house, it is one account. I manage it. My husband

00:29:25.269 --> 00:29:27.210
just earns it. I'm like, it all goes into the

00:29:27.210 --> 00:29:29.009
one pot. That's still how I work in my house,

00:29:29.029 --> 00:29:30.130
even though we have a little different model

00:29:30.130 --> 00:29:31.710
because my husband and I co -own a business.

00:29:31.829 --> 00:29:35.410
So it's one pot because it's our business. So

00:29:35.410 --> 00:29:38.509
do you find that there tends to be more one pot

00:29:38.509 --> 00:29:42.650
type profiles that you're dealing with? Or are

00:29:42.650 --> 00:29:44.369
you seeing that there is that sort of, you know,

00:29:44.369 --> 00:29:46.309
the husband has his money, the wife has her money.

00:29:46.390 --> 00:29:48.210
Maybe they, you know, have a separate bank account

00:29:48.210 --> 00:29:49.970
just for, you know, the mortgage or the rent.

00:29:51.190 --> 00:29:54.630
Daily shopping and stuff. I think before people

00:29:54.630 --> 00:29:57.049
have come to Singapore, they were very independent

00:29:57.049 --> 00:29:59.089
with money. And it might just be the mortgage

00:29:59.089 --> 00:30:01.630
that you had pulled, but you had your own salary

00:30:01.630 --> 00:30:04.190
accounts. But coming to Singapore, it's almost

00:30:04.190 --> 00:30:08.130
forced people to pull finances and not to link

00:30:08.130 --> 00:30:12.630
divorce rates with money. But there is a direct

00:30:12.630 --> 00:30:15.250
current. You're talking to me. The hell I said,

00:30:15.309 --> 00:30:17.910
like, it's too soon. No, but I came to Singapore.

00:30:18.589 --> 00:30:20.630
In the exact thing that you just mentioned, shared

00:30:20.630 --> 00:30:23.670
mortgage, previously split salaries. We came

00:30:23.670 --> 00:30:25.869
to Singapore, put everything in one pot and it

00:30:25.869 --> 00:30:27.710
was like the beginning of the end. Yeah, because

00:30:27.710 --> 00:30:29.769
you go a match and then it's all down to money

00:30:29.769 --> 00:30:32.130
personalities. It's like, hang on a minute, I'm

00:30:32.130 --> 00:30:34.529
this and you're just being reckless with it.

00:30:34.589 --> 00:30:37.269
This isn't working for me. And then that's when

00:30:37.269 --> 00:30:40.450
a lot of the communication breaks down. From

00:30:40.450 --> 00:30:44.890
your opinion and obviously your experience, is

00:30:44.890 --> 00:30:48.400
there a cause for a divorce? about money matters

00:30:48.400 --> 00:30:51.759
do you find that like hasn't I you know like

00:30:51.759 --> 00:30:53.299
and you think of cheating and things like that

00:30:53.299 --> 00:30:56.740
but then can money really be like the crux of

00:30:56.740 --> 00:30:58.599
a second straw the brakes yeah I mean it's one

00:30:58.599 --> 00:31:02.200
of the main drivers really because there'll be

00:31:02.200 --> 00:31:04.099
resentment on either side there will be some

00:31:04.099 --> 00:31:07.059
resentment if someone's working they may think

00:31:07.059 --> 00:31:09.579
that they have all the power and control how

00:31:09.579 --> 00:31:11.819
are they using that is then that turned into

00:31:11.819 --> 00:31:15.779
some sort of money control you know all these

00:31:15.779 --> 00:31:17.819
other things that i'm sure like the wife is working

00:31:17.819 --> 00:31:20.579
and the husband's going out for brunch yeah yeah

00:31:20.579 --> 00:31:23.420
and it's a real thing and it happens all the

00:31:23.420 --> 00:31:27.839
time um so yeah it absolutely sparks conversations

00:31:27.839 --> 00:31:30.519
that actually should have really happened when

00:31:30.519 --> 00:31:33.160
you got together and again it comes if you've

00:31:33.160 --> 00:31:36.259
got people coming together where one person has

00:31:36.259 --> 00:31:38.759
come from growing up in a household where money

00:31:38.759 --> 00:31:40.599
is always, you've been conscious about money

00:31:40.599 --> 00:31:42.559
because there hasn't been a lot of it. And then

00:31:42.559 --> 00:31:45.920
you meet someone that comes from abundance. Have

00:31:45.920 --> 00:31:48.660
you actually spoken about how that fits together?

00:31:48.880 --> 00:31:51.160
Wow. And then if you go on to have children together,

00:31:51.380 --> 00:31:55.200
how is this going to work? Wow. Those are conversations

00:31:55.200 --> 00:31:58.160
I think that. people really need to have, but

00:31:58.160 --> 00:31:59.880
you don't, you don't think about it. You just

00:31:59.880 --> 00:32:01.940
are not. No. And I don't know that you're even

00:32:01.940 --> 00:32:04.640
aware in speaking of my own, like I wouldn't

00:32:04.640 --> 00:32:06.200
know, I wouldn't say that I would have been able

00:32:06.200 --> 00:32:08.579
to identify whether I was, you know, had this

00:32:08.579 --> 00:32:11.279
particular mindset or whatever. We had a mega

00:32:11.279 --> 00:32:13.519
sing on here a couple of seasons ago, talking

00:32:13.519 --> 00:32:16.279
about money mindsets and examining your beliefs

00:32:16.279 --> 00:32:18.859
behind money. I don't know that any of us do

00:32:18.859 --> 00:32:22.759
that. No. I said to my husband, I said, we really

00:32:22.759 --> 00:32:25.160
need to make sure that the boys, you know, understand

00:32:25.160 --> 00:32:27.180
they're cool. values and you know their future

00:32:27.180 --> 00:32:29.779
partners core values are in line with their core

00:32:29.779 --> 00:32:31.799
values but actually you need to look at their

00:32:31.799 --> 00:32:33.680
money mindset and make sure that their money

00:32:33.680 --> 00:32:36.579
mindset is almost alive yeah it's as important

00:32:36.579 --> 00:32:40.259
and they say that you know a good marriage is

00:32:40.259 --> 00:32:44.279
great for financial stability and future and

00:32:44.279 --> 00:32:47.140
there's a reason because of that yeah no you're

00:32:47.140 --> 00:32:49.960
so right and again it's funny that Like you said,

00:32:50.000 --> 00:32:52.380
moving to Singapore in the traditional expat

00:32:52.380 --> 00:32:54.880
experience can kind of crack that wide open.

00:32:55.039 --> 00:32:57.539
Do you find that that is unique to Singapore?

00:32:57.640 --> 00:32:59.579
Do you find that that is something you see in

00:32:59.579 --> 00:33:01.880
other contexts that you've worked as well? I

00:33:01.880 --> 00:33:04.599
think Singapore just it just brings it to your

00:33:04.599 --> 00:33:07.119
attention quicker because it's kind of like a

00:33:07.119 --> 00:33:09.319
natural state that suddenly we've been forced

00:33:09.319 --> 00:33:12.180
into. But actually, if you were just continuing

00:33:12.180 --> 00:33:14.680
back in your home country, those cracks would

00:33:14.680 --> 00:33:18.799
appear. They're down the long line, yeah. Yeah,

00:33:18.799 --> 00:33:21.400
so I feel like they're always there. It's just,

00:33:21.440 --> 00:33:23.720
are we seeing them? Well, let's talk about one

00:33:23.720 --> 00:33:27.480
of the bigger cracks, debt. I think, you know,

00:33:27.480 --> 00:33:29.640
we've talked about the CEO female top of her

00:33:29.640 --> 00:33:31.519
earnings. We've talked about the mom coming back

00:33:31.519 --> 00:33:33.559
to the workforce. How about the woman who arrives

00:33:33.559 --> 00:33:36.900
in her 40s with crippling debt? May it be from

00:33:36.900 --> 00:33:40.380
education, poor decisions previously, a divorce

00:33:40.380 --> 00:33:43.200
potentially. You know, this is a reality for

00:33:43.200 --> 00:33:45.950
women in their 40s. Are there ways that women

00:33:45.950 --> 00:33:48.710
can start to either break down their debt so

00:33:48.710 --> 00:33:50.710
some way they can start kind of attacking that,

00:33:50.829 --> 00:33:54.269
but also lead a fulfilling life? I feel like

00:33:54.269 --> 00:33:56.809
when you are in debt, it's like a prison. Yeah.

00:33:57.029 --> 00:33:59.690
And you feel like there's no way out. Is there

00:33:59.690 --> 00:34:01.890
a way? There is a way. There is a way. And this

00:34:01.890 --> 00:34:05.670
is such a good topic to touch on because, you

00:34:05.670 --> 00:34:07.670
know, there are women in their 40s that are carrying

00:34:07.670 --> 00:34:10.670
debt and maybe it might be post -divorce. You

00:34:10.670 --> 00:34:13.550
know, so many reasons, education, and it's really

00:34:13.550 --> 00:34:17.150
trying to understand good or bad debt. And what

00:34:17.150 --> 00:34:20.429
I mean by, let's talk about good debt, that is

00:34:20.429 --> 00:34:23.130
hopefully on an appreciating asset. Okay, like

00:34:23.130 --> 00:34:26.230
a mortgage. Yeah, a house. It's been an educated

00:34:26.230 --> 00:34:29.070
decision. We've got clarity around the property,

00:34:29.230 --> 00:34:33.429
business. I feel okay with that. Other debt is

00:34:33.429 --> 00:34:36.110
what we perceive as bad debt, and that's your

00:34:36.110 --> 00:34:40.010
credit cards, personal loans. Education, is it

00:34:40.010 --> 00:34:42.670
a bad debt? Yeah. So where do we put education?

00:34:42.849 --> 00:34:44.929
Say it's a good debt because you're, you know,

00:34:44.969 --> 00:34:47.969
you're future -proofing yourself. But how are

00:34:47.969 --> 00:34:50.369
we paying that off? And again, it all goes down

00:34:50.369 --> 00:34:53.309
to the budget. You know, the $100 that you've

00:34:53.309 --> 00:34:56.889
got here, how are you assigning $20 to the highest

00:34:56.889 --> 00:34:59.829
rate to pay that down? Then you're doing this

00:34:59.829 --> 00:35:02.190
other $20 here. That's a very simple example.

00:35:02.389 --> 00:35:05.750
But let's get rid of the high. interest rate

00:35:05.750 --> 00:35:09.289
debt first let's be smart can we refinance to

00:35:09.289 --> 00:35:12.429
a lower interest rate but just you've got to

00:35:12.429 --> 00:35:14.570
tackle it head on because the longer you leave

00:35:14.570 --> 00:35:17.909
it compounding will work not in your favor yeah

00:35:17.909 --> 00:35:20.230
that's the dave ramsey thing right is like you

00:35:20.230 --> 00:35:22.690
know get your highest ones paid off first and

00:35:22.690 --> 00:35:25.050
then you can snowball it snowball it down i don't

00:35:25.050 --> 00:35:26.469
know if that's a thing that yeah i don't know

00:35:26.469 --> 00:35:28.030
if that metaphor works but it's dave ramsey's

00:35:28.030 --> 00:35:31.820
idea i'll credit him In terms of attacking debt,

00:35:31.980 --> 00:35:33.739
so you just mentioned, so you want to pay the

00:35:33.739 --> 00:35:35.260
highest interest first and kind of back down

00:35:35.260 --> 00:35:37.639
from that. Is there a time where it might make

00:35:37.639 --> 00:35:39.679
sense to put yourself in debt? And specifically,

00:35:39.739 --> 00:35:43.639
I mean, like to purchase a home. Like, is that

00:35:43.639 --> 00:35:45.539
always a positive trade -off, like you said,

00:35:45.579 --> 00:35:48.420
to be in debt for an appreciating asset? Or is

00:35:48.420 --> 00:35:50.460
there a time where maybe you wouldn't choose

00:35:50.460 --> 00:35:52.960
that option? Every investment is different. So

00:35:52.960 --> 00:35:55.119
when you look at property, you've got to be really

00:35:55.119 --> 00:35:58.599
crystal clear on where you're investing. you

00:35:58.599 --> 00:36:00.599
know, are you looking for the yield? So we're

00:36:00.599 --> 00:36:02.340
going for high rent or are we saying this is

00:36:02.340 --> 00:36:05.199
a capital growth strategy? And I think over the

00:36:05.199 --> 00:36:07.300
years, people have just gone, I've done this

00:36:07.300 --> 00:36:09.699
property because all my friends have done it.

00:36:09.739 --> 00:36:12.980
My parents say that's the way to go. But you've

00:36:12.980 --> 00:36:14.900
got to be really clear on what is it you're aiming

00:36:14.900 --> 00:36:16.739
for? Because if you don't have that clarity,

00:36:17.079 --> 00:36:19.980
someone is going to be left feeling underwhelmed

00:36:19.980 --> 00:36:22.320
at the end of it because there is a tax drag.

00:36:22.889 --> 00:36:26.690
on any property investing. And at the moment

00:36:26.690 --> 00:36:29.070
with yields in certain places, does it make sense?

00:36:29.429 --> 00:36:32.230
So if you're committing your lump sum payment

00:36:32.230 --> 00:36:34.829
to there, plus you're paying interest on that,

00:36:35.090 --> 00:36:38.170
have we actually netted it out and does it make

00:36:38.170 --> 00:36:40.489
sense? And we're not saying it's bad. There's

00:36:40.489 --> 00:36:42.550
absolutely property in a portfolio is great.

00:36:42.730 --> 00:36:45.190
But are we really understanding the fundamentals

00:36:45.190 --> 00:36:49.250
or are we going on recency bias? Oh, interesting.

00:36:49.920 --> 00:36:51.920
Right, let's say someone's got 100 grand and

00:36:51.920 --> 00:36:53.980
they really want to do something with it and

00:36:53.980 --> 00:36:55.619
it's just sitting in the bank account. What would

00:36:55.619 --> 00:36:57.639
be like your top three things that you would

00:36:57.639 --> 00:37:00.380
say, right, this might be something based on

00:37:00.380 --> 00:37:03.960
someone's risk profile that they could invest

00:37:03.960 --> 00:37:06.150
in or should invest in? could I don't know it's

00:37:06.150 --> 00:37:09.250
up to you how do you want to frame that I'd say

00:37:09.250 --> 00:37:12.130
invest in yourself and what that means is invest

00:37:12.130 --> 00:37:14.809
in your future self so what does your retirement

00:37:14.809 --> 00:37:17.150
look like yeah and and we know if we're thinking

00:37:17.150 --> 00:37:21.349
longer term you know is it CPF SRS superannuation

00:37:21.349 --> 00:37:24.349
if in Australia UK pension what are you doing

00:37:24.349 --> 00:37:27.510
and and to prepare for that and that naturally

00:37:27.510 --> 00:37:31.329
will be some form of equity based investment.

00:37:31.429 --> 00:37:33.989
So I would think about the timeframe, thinking

00:37:33.989 --> 00:37:36.409
about what you're wanting your money to do. And

00:37:36.409 --> 00:37:39.130
it's always going to be a collection of equities.

00:37:39.429 --> 00:37:41.349
There will be some property in there because

00:37:41.349 --> 00:37:43.849
are you thinking you're investing here because

00:37:43.849 --> 00:37:46.809
that's going to be your future home. Do you recommend

00:37:46.809 --> 00:37:50.090
investing in a country that you're not living

00:37:50.090 --> 00:37:51.969
in? Yeah, that was going to be my next question.

00:37:52.030 --> 00:37:54.110
Two questions. Can we double barrel this, which

00:37:54.110 --> 00:37:55.369
I know is like the worst interview strategy?

00:37:56.800 --> 00:37:58.420
Do you suggest investing in a country you're

00:37:58.420 --> 00:38:00.320
not living in? So for many expats, that might

00:38:00.320 --> 00:38:03.219
be their home country. Or what are your opinions

00:38:03.219 --> 00:38:06.820
on investing in a unstable -y type of country?

00:38:06.920 --> 00:38:09.119
So, for example, investing in Malaysia property.

00:38:09.480 --> 00:38:13.099
Or Bali. Or Bali. Yep, Thailand. Yes, countries

00:38:13.099 --> 00:38:16.500
that don't have a history of necessarily stability

00:38:16.500 --> 00:38:18.500
for foreign investment. Yeah, I think we have

00:38:18.500 --> 00:38:20.679
to be very careful about the tax jurisdictions.

00:38:21.059 --> 00:38:24.179
So here in Singapore, very low tax. We are tax

00:38:24.179 --> 00:38:27.150
residents here. If you're going to another country,

00:38:27.210 --> 00:38:30.610
you're buying as a non -tax resident. What are

00:38:30.610 --> 00:38:34.230
the implications upon entry? How is any income

00:38:34.230 --> 00:38:36.429
generated going to be treated as a non -resident?

00:38:36.769 --> 00:38:40.610
And when you go to sell, how's that gain going

00:38:40.610 --> 00:38:43.650
to be treated in that country, but also when

00:38:43.650 --> 00:38:46.989
you bring it back to wherever you are then? Because

00:38:46.989 --> 00:38:49.610
you might end up having to pay tax here or in

00:38:49.610 --> 00:38:52.289
the UK or yeah. Yeah. So if you look at the UK,

00:38:52.409 --> 00:38:54.489
for example, they've changed over the last couple

00:38:54.489 --> 00:38:57.869
of years, their capital gains model. So this

00:38:57.869 --> 00:39:00.349
is not advice and I'm not getting into advice.

00:39:00.429 --> 00:39:02.389
We can do a disclaimer after the show like this.

00:39:02.489 --> 00:39:05.429
So you've got to understand that if at the time

00:39:05.429 --> 00:39:07.550
of purchase, the capital gains allowance was

00:39:07.550 --> 00:39:11.070
X amount. Do you know, do you now know at this

00:39:11.070 --> 00:39:14.389
point in time, it's dwindled down to this amount?

00:39:14.809 --> 00:39:18.010
So actually. going back to the rhyme and reason

00:39:18.010 --> 00:39:21.110
of what you were doing, does it make sense? And

00:39:21.110 --> 00:39:23.710
are you actually aware of it? Yeah. An inheritance

00:39:23.710 --> 00:39:26.989
tax, you know, all these things. What are the

00:39:26.989 --> 00:39:29.530
governments doing to affect that wealth that

00:39:29.530 --> 00:39:32.699
you think you are growing? So there's this, I

00:39:32.699 --> 00:39:34.219
know I'm going to completely butcher it, but

00:39:34.219 --> 00:39:36.559
there's this guy who wrote a book called Die

00:39:36.559 --> 00:39:39.039
With Nothing. What's your opinion on that as

00:39:39.039 --> 00:39:43.440
in not saving, but using up your finances and

00:39:43.440 --> 00:39:45.619
while you're still living, whether that's giving

00:39:45.619 --> 00:39:47.440
it to your kids and doing all of that stuff.

00:39:48.199 --> 00:39:50.280
He was on, I don't know if you listen to Peter

00:39:50.280 --> 00:39:52.440
Atiyah, but he was on his show and Peter Atiyah

00:39:52.440 --> 00:39:53.980
says he loves the book. Maybe I should read it.

00:39:54.039 --> 00:39:56.159
Yeah, it's Die With Zero. And it's an amazing

00:39:56.159 --> 00:39:59.440
book. Do you have it? Yeah. I mean, I listened

00:39:59.440 --> 00:40:00.760
to the concept about it and I thought, actually,

00:40:00.800 --> 00:40:03.880
it kind of makes sense. It'd be good to not have

00:40:03.880 --> 00:40:06.260
to deal with giving your finances away to the

00:40:06.260 --> 00:40:08.099
taxman afterwards. You know, like if your kids

00:40:08.099 --> 00:40:10.320
need some money now, give it to them now. Or,

00:40:10.340 --> 00:40:12.360
you know, like, what's your opinion on that?

00:40:12.460 --> 00:40:14.619
If you have an opinion. I don't know the book.

00:40:15.500 --> 00:40:17.780
think if you are earning money you are paying

00:40:17.780 --> 00:40:20.460
tax yeah so if i'm not earning money i'm not

00:40:20.460 --> 00:40:23.260
paying tax so i'm not sure how that plays out

00:40:23.260 --> 00:40:27.599
but also a basic human need is shelter food security

00:40:27.599 --> 00:40:32.440
so again if we're taking that strategy on how

00:40:32.440 --> 00:40:35.539
are we feeling along the way So, yeah, very difficult

00:40:35.539 --> 00:40:38.019
to answer. But I think if you're having children,

00:40:38.139 --> 00:40:41.460
there's that natural want and need to pass money

00:40:41.460 --> 00:40:45.099
on. And it's not about how much, but it's you

00:40:45.099 --> 00:40:47.699
want that to kind of carry forward into generation.

00:40:47.800 --> 00:40:50.880
So I like it. I think it feels really nice and

00:40:50.880 --> 00:40:54.320
free and easy. But the reality, I don't know

00:40:54.320 --> 00:40:57.380
what that looks like because rental. Rentals

00:40:57.380 --> 00:40:59.780
are expensive. So how are we going to generate

00:40:59.780 --> 00:41:01.659
the income to pay that? So we're going to be

00:41:01.659 --> 00:41:04.300
paying tax anyway on the income. I don't know

00:41:04.300 --> 00:41:06.480
how that. I mean, we're a little bit of a die

00:41:06.480 --> 00:41:08.440
with zero family. I'll be honest with you. Yeah.

00:41:08.539 --> 00:41:11.920
Yeah. So that's kind of like we're that is. where

00:41:11.920 --> 00:41:14.079
we are kind of doing our financial planning and

00:41:14.079 --> 00:41:17.019
it is scary but it is also it's interesting because

00:41:17.019 --> 00:41:19.000
actually my husband you mentioned about talking

00:41:19.000 --> 00:41:21.460
to your kids early yes tyler's already talking

00:41:21.460 --> 00:41:24.500
to the kids about how they will receive money

00:41:24.500 --> 00:41:26.679
from us in terms of it's not gonna be when we

00:41:26.679 --> 00:41:29.039
pass on yeah you know it'll be actually like

00:41:29.039 --> 00:41:31.000
in in the life that we are all living together

00:41:31.000 --> 00:41:33.380
because i kind of say that to my parents i'm

00:41:33.380 --> 00:41:35.860
like don't worry about us yes you know we're

00:41:35.860 --> 00:41:37.659
all grown -ups now we've all got our own kids

00:41:37.659 --> 00:41:39.699
you know we're getting on with our lives i want

00:41:39.699 --> 00:41:42.210
you guys do yeah I want you guys to enjoy your

00:41:42.210 --> 00:41:44.670
time. Like you've worked your whole life. Now

00:41:44.670 --> 00:41:47.389
go and use that bloody money. Yeah, yeah. Do

00:41:47.389 --> 00:41:49.210
you find that that tends to happen like the older

00:41:49.210 --> 00:41:52.849
you get? So obviously like 60s, 70s. Are you

00:41:52.849 --> 00:41:57.699
seeing that the children of... The parents, you

00:41:57.699 --> 00:42:00.159
know, telling their parents, spend the money

00:42:00.159 --> 00:42:02.659
on yourself. Don't worry about us. Or are parents

00:42:02.659 --> 00:42:05.000
still thinking, no, I need to, you know, I need

00:42:05.000 --> 00:42:07.380
to pass this on to my kids, my grandkids. Yeah,

00:42:07.420 --> 00:42:09.019
I think there definitely is that conversation.

00:42:09.079 --> 00:42:11.860
And when we think about our parents, potentially

00:42:11.860 --> 00:42:14.360
grandparents, they're of a different generation.

00:42:15.239 --> 00:42:18.809
Money was... harder yeah you know life was feels

00:42:18.809 --> 00:42:22.329
harder post -war and in a lot of cases so I think

00:42:22.329 --> 00:42:25.349
that money habit has stayed yeah but what's really

00:42:25.349 --> 00:42:28.250
interesting now and what I find a lot of clients

00:42:28.250 --> 00:42:30.710
deal with is what's called that sandwich generation

00:42:30.710 --> 00:42:35.329
which you need to be 100 % across your parents

00:42:35.329 --> 00:42:39.590
may have a lot of money have got assets but have

00:42:39.590 --> 00:42:43.000
we spoken about long -term care and in that country

00:42:43.000 --> 00:42:45.480
where they are yes because it's so expensive

00:42:45.480 --> 00:42:48.239
and people are living longer so as much as we

00:42:48.239 --> 00:42:50.099
want to say you know please enjoy your money

00:42:50.099 --> 00:42:53.900
do we know actually if they do do that and use

00:42:53.900 --> 00:42:57.659
it all are you financially okay to sustain your

00:42:57.659 --> 00:43:01.320
parents Is that in your financial planning? Never

00:43:01.320 --> 00:43:02.679
thought about that. It's another intersection

00:43:02.679 --> 00:43:04.460
of health and money, but this one's a little

00:43:04.460 --> 00:43:06.639
bit of a dark side, unfortunately. I know, and

00:43:06.639 --> 00:43:08.239
I really don't mean to be negative. Yeah, I know,

00:43:08.239 --> 00:43:11.440
but that is a huge reality. And for women, I

00:43:11.440 --> 00:43:14.760
feel like it's the biggest stress point in the

00:43:14.760 --> 00:43:18.920
40 to 55s because we are the sandwich. We're

00:43:18.920 --> 00:43:21.519
the bit in the middle. We've got the parents

00:43:21.519 --> 00:43:24.300
that we're worried about. They may be in a different

00:43:24.300 --> 00:43:27.860
country. Financially, are we? providing for but

00:43:27.860 --> 00:43:29.480
then we've got our kids that we're trying to

00:43:29.480 --> 00:43:32.820
put through very stressful yeah so I think we've

00:43:32.820 --> 00:43:36.639
got to be very careful with the language that

00:43:36.639 --> 00:43:38.380
we're using and actually what does that mean

00:43:38.380 --> 00:43:40.780
and again it all comes to education transparency

00:43:40.780 --> 00:43:44.760
understanding the tax jurisdiction and you've

00:43:44.760 --> 00:43:47.280
mentioned now a couple of blind spots so one

00:43:47.280 --> 00:43:49.800
is not having a budget Right. So just not knowing

00:43:49.800 --> 00:43:51.820
where your money's coming from. Another one might

00:43:51.820 --> 00:43:54.039
be spending on things that you don't even realize.

00:43:54.199 --> 00:43:55.340
Right. Like, you know, your money's just kind

00:43:55.340 --> 00:43:57.500
of going here, there, everywhere. Another might

00:43:57.500 --> 00:44:01.079
be not realizing, talking about with siblings,

00:44:01.280 --> 00:44:04.460
internalizing how your parent care will happen.

00:44:04.739 --> 00:44:07.239
You know, are there other blind spots that women

00:44:07.239 --> 00:44:09.079
in their 40s should look out for that we might

00:44:09.079 --> 00:44:11.619
not see coming? I think there's always your own

00:44:11.619 --> 00:44:17.190
health, you know, at this age. things you know

00:44:17.190 --> 00:44:18.929
feel like I feel like personally I'm going for

00:44:18.929 --> 00:44:21.070
more checks than I ever have done which I'm very

00:44:21.070 --> 00:44:23.230
fortunate about being in Singapore to get these

00:44:23.230 --> 00:44:27.250
done and by great doctors but you know what does

00:44:27.250 --> 00:44:30.190
that look like you know if if if you find something

00:44:30.190 --> 00:44:33.590
what does your insurance look like you know then

00:44:33.590 --> 00:44:36.920
if you don't have that foundation It doesn't

00:44:36.920 --> 00:44:38.800
matter about the future you because all you're

00:44:38.800 --> 00:44:41.260
focusing on is the here and now and your pyramid

00:44:41.260 --> 00:44:45.420
comes crumbling down. So really focusing on your

00:44:45.420 --> 00:44:48.739
health, focusing on exercise, fitness, you know,

00:44:48.739 --> 00:44:50.860
your diet. What are you putting in your body?

00:44:51.199 --> 00:44:53.539
Your relationship with money? Is it a stress

00:44:53.539 --> 00:44:56.619
or actually is it a I can breathe? And these

00:44:56.619 --> 00:44:59.559
really make such a difference. So do you recommend

00:44:59.559 --> 00:45:02.719
making sure that you do have life insurance in

00:45:02.719 --> 00:45:07.219
place just in case there is? an unforeseen event

00:45:07.219 --> 00:45:10.679
absolutely because you we all have a value in

00:45:10.679 --> 00:45:12.880
our household whether you're working or not you

00:45:12.880 --> 00:45:16.619
have a value attached to you what is it do we

00:45:16.619 --> 00:45:19.219
know what it is um and actually if you were to

00:45:19.219 --> 00:45:22.260
be out of that household what would you like

00:45:22.260 --> 00:45:24.820
to happen and how do you want your children to

00:45:24.820 --> 00:45:28.000
be financially cared for and let's put a figure

00:45:28.000 --> 00:45:30.960
around that as a minimum and then also but that's

00:45:30.960 --> 00:45:33.179
for everyone else that's not for you so when

00:45:33.179 --> 00:45:35.460
you think about yourself what about critical

00:45:35.460 --> 00:45:37.900
illness cover and that's from your cancers to

00:45:37.900 --> 00:45:41.480
your heart attacks are we covered for that because

00:45:41.480 --> 00:45:45.219
we know that generally if we suffer a critical

00:45:45.219 --> 00:45:49.289
illness we're going to survive it But we know

00:45:49.289 --> 00:45:52.429
if we survive it, there's costs. Yes. And again,

00:45:52.489 --> 00:45:55.849
not to be morbid, but this is the reality. Again,

00:45:56.030 --> 00:45:59.789
this is being smart. If the reality feels jarring

00:45:59.789 --> 00:46:01.630
to you, then maybe it's a sign you need to examine

00:46:01.630 --> 00:46:04.489
it. Yeah, and I think we can't go through life

00:46:04.489 --> 00:46:07.590
with our head in the sand to go, it's not going

00:46:07.590 --> 00:46:10.889
to happen to me because it will or it will happen

00:46:10.889 --> 00:46:13.659
to someone close to you. And it's how are you

00:46:13.659 --> 00:46:15.639
prepared for that? Because that's the biggest

00:46:15.639 --> 00:46:17.900
thing that's going to derail you. Yeah. There's

00:46:17.900 --> 00:46:19.940
a saying I've heard a thousand times and it's

00:46:19.940 --> 00:46:22.260
like, you can have a hundred problems, but once

00:46:22.260 --> 00:46:23.940
you have a health problem, you have one problem.

00:46:23.980 --> 00:46:26.440
Yeah, absolutely. Yeah. You know, and then you

00:46:26.440 --> 00:46:28.179
might say you have one problem and also a financial

00:46:28.179 --> 00:46:30.699
problem. So now you got two real big problems

00:46:30.699 --> 00:46:32.969
that you don't want to have. All right, Alexis.

00:46:33.070 --> 00:46:35.489
So to lighten up the convo a little bit. So one

00:46:35.489 --> 00:46:36.929
of the features we do here on the 40s Formula

00:46:36.929 --> 00:46:39.610
is hot or hype. So basically, we're going to

00:46:39.610 --> 00:46:42.210
ask you a few hot topics in finance and you let

00:46:42.210 --> 00:46:44.510
us know whether it's hot and you think that's

00:46:44.510 --> 00:46:46.929
definitely something that you take on as good

00:46:46.929 --> 00:46:49.750
advice or hype, overblown, not something you

00:46:49.750 --> 00:46:51.449
would recommend. All righty. And again, you can

00:46:51.449 --> 00:46:54.389
justify your answers. We let that happen. All

00:46:54.389 --> 00:46:57.230
righty. Property ownership as the key to long

00:46:57.230 --> 00:47:02.179
-term wealth. Hot or hype? Hype stroke hot. Oh,

00:47:02.179 --> 00:47:05.280
OK. That's not how the game is played. But proceed.

00:47:05.380 --> 00:47:08.159
Tell us why. Because you've just got to be, you

00:47:08.159 --> 00:47:09.280
know, you've got to be conscious where you're

00:47:09.280 --> 00:47:11.860
buying. So in some areas, absolutely amazing.

00:47:12.079 --> 00:47:14.300
Let's go for it. There's real growth potential.

00:47:14.760 --> 00:47:17.739
But if I'm buying in an oversaturated, too talked

00:47:17.739 --> 00:47:20.940
about market, that's hype. I've just bought into

00:47:20.940 --> 00:47:23.360
someone else's profit. Yeah. Literally bought

00:47:23.360 --> 00:47:26.800
in the hype with your own money. Yeah. All right.

00:47:27.119 --> 00:47:30.230
Hotter hype. Side hustles as the path to financial

00:47:30.230 --> 00:47:37.010
freedom. Hype. Because, and again, comes down

00:47:37.010 --> 00:47:38.449
to your value, what you're looking to achieve.

00:47:38.469 --> 00:47:41.889
But if you've got a passion for it and it's making

00:47:41.889 --> 00:47:44.550
money, fantastic. If you've got a passion for

00:47:44.550 --> 00:47:46.650
it and it's causing you stress and derailing

00:47:46.650 --> 00:47:49.610
you, maybe there's something else that you could

00:47:49.610 --> 00:47:55.009
be done. Okay. Hot or hype? Relying on. CPF,

00:47:55.009 --> 00:47:58.289
retirement fund, government fund as your retirement

00:47:58.289 --> 00:48:02.429
plan? Hype. But I love it. I love that you've

00:48:02.429 --> 00:48:04.570
got CPF if you're PI. I love that you've got

00:48:04.570 --> 00:48:08.610
SRS. But you've got to think more. Okay. Because

00:48:08.610 --> 00:48:10.949
we know that we can only access at certain points

00:48:10.949 --> 00:48:13.070
in our life. But what happens if you want more

00:48:13.070 --> 00:48:15.070
flexibility? And what happens if we're not going

00:48:15.070 --> 00:48:17.750
to be in Singapore? Yeah, good point. Yeah, yeah.

00:48:18.610 --> 00:48:20.829
Last one. This is going to hurt me. I feel like

00:48:20.829 --> 00:48:24.530
this is going to hurt. Okay. Hot or hype? cutting

00:48:24.530 --> 00:48:28.030
back on all your little treats in order to secure

00:48:28.030 --> 00:48:31.130
a richer future i think it's hype oh yay okay

00:48:31.130 --> 00:48:35.630
because it's short term it's it's you know you're

00:48:35.630 --> 00:48:37.570
thinking oh that's going to solve my problems

00:48:37.570 --> 00:48:41.269
that's a bit if it's short term it's not going

00:48:41.269 --> 00:48:43.650
to be there to stay. So it's not those small

00:48:43.650 --> 00:48:47.030
habits that we can incorporate. So hype. So I

00:48:47.030 --> 00:48:51.010
can drink my $4 .90 Starbucks coffee and knowing

00:48:51.010 --> 00:48:53.650
that I can buy a bag of coffee at Marks and Spencer.

00:48:53.690 --> 00:48:56.510
How is your coffee $4? I bought a flat white

00:48:56.510 --> 00:48:58.889
this morning, $7 .50. Because you, I don't drink

00:48:58.889 --> 00:49:01.550
that stuff. I drink coffee. Okay. I don't drink

00:49:01.550 --> 00:49:04.010
espresso. All right. No, I'm just kidding. But

00:49:04.010 --> 00:49:06.190
okay. Thank you for letting us live another day

00:49:06.190 --> 00:49:08.889
on our small treats. All righty. Last question.

00:49:08.969 --> 00:49:11.059
And this is something that we ask. every single

00:49:11.059 --> 00:49:13.219
guest on The 40s Formula, but we'd love to hear

00:49:13.219 --> 00:49:15.699
it from you in terms of your unique perspective.

00:49:16.239 --> 00:49:19.840
What is The 40s Formula? What can women in their

00:49:19.840 --> 00:49:23.639
40s do to truly thrive in this decade? So have

00:49:23.639 --> 00:49:30.059
clarity, be consistent, and do it with confidence.

00:49:30.440 --> 00:49:33.760
Ooh, three Cs. And you can incorporate that into

00:49:33.760 --> 00:49:36.900
all parts of your life, but I think from today

00:49:36.900 --> 00:49:39.440
we'll see that we need clarity around our money.

00:49:40.000 --> 00:49:42.659
What's it doing for us? Are we enjoying it or

00:49:42.659 --> 00:49:45.460
are we not? Is it holding us back? Are we doing

00:49:45.460 --> 00:49:48.559
it consistently or is it a fad? And are we having

00:49:48.559 --> 00:49:52.400
confidence doing it? Amazing. I love it. Simple

00:49:52.400 --> 00:49:54.179
but profound. And I think something that women

00:49:54.179 --> 00:49:57.110
really need to hear. Thank you so much for being

00:49:57.110 --> 00:49:59.170
with us, Alexis. This has been, again, first

00:49:59.170 --> 00:50:02.469
of all, educational. And secondly, kind of thought

00:50:02.469 --> 00:50:04.449
provoking. I mean, I know I've started to rethink

00:50:04.449 --> 00:50:06.070
some of the relationships that I have with my

00:50:06.070 --> 00:50:08.409
money after talking to you. So thank you so much

00:50:08.409 --> 00:50:09.969
for helping our listeners do the same. Thank

00:50:09.969 --> 00:50:41.530
you very much for having me on. Thank you. Is

00:50:41.530 --> 00:50:44.230
that, are you cool? Because that was obviously

00:50:44.230 --> 00:50:47.170
ChatGPT's summary of your LinkedIn profile. Yeah,

00:50:47.269 --> 00:50:48.510
yeah. So I was like, if there's anything that

00:50:48.510 --> 00:50:49.969
they didn't sound representative yet, because

00:50:49.969 --> 00:50:52.869
you know how sometimes they say wild shit. Where

00:50:52.869 --> 00:50:55.190
it's like, you know, she's worked in East Bangladesh.

00:50:55.269 --> 00:50:57.309
I didn't say that. That was out of my profile.

00:50:57.630 --> 00:50:59.949
When I put yours in and it said, oh, a Pilates

00:50:59.949 --> 00:51:03.090
instructor. I was like, I'm literally in the

00:51:03.090 --> 00:51:05.570
opposite of that thing that you just said. But

00:51:05.570 --> 00:51:07.250
anyway. It's just that over 20 years, I'm like,

00:51:07.309 --> 00:51:08.969
yeah, but I'm not that old. Oh, no, I am. Oh,

00:51:08.969 --> 00:51:12.510
yeah, maybe. I'm offended by that intro, but

00:51:12.510 --> 00:51:13.230
it's not wrong.