- 20 hours ago
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Join Yaya Diamond as she sits down with Dr. Kenneth J. Welch, author of "Personal Financial Planning," for an insightful discussion. This episode offers valuable financial advice and focuses on personal finance strategies. Dr. Welch shares his expertise on financial management and financial education, making complex topics accessible for everyone. Don't miss this essential financial podcast!
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™Yaya Diamond
Red Hot Reality Ent. LLC
Join Yaya Diamond as she sits down with Dr. Kenneth J. Welch, author of "Personal Financial Planning," for an insightful discussion. This episode offers valuable financial advice and focuses on personal finance strategies. Dr. Welch shares his expertise on financial management and financial education, making complex topics accessible for everyone. Don't miss this essential financial podcast!
⚡ VidChapter AI generated these chapters, try it out https://vidchapter.com/?affiliate=yayadiamond
Recommended podcast platform get 10% off: https://podopshost.com/register/?ref=yaya
Tools and Services I use:
Appsumo has the best lifetime deals ever!!! I love this site.
appsumo.8odi.net/yayadiamond
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Best website for musicians. Try it for free on me: https://buff.ly/2GMYugG
Make money with Fiverr.com: https://buff.ly/2KjTVvV
Our Amazon store: https://buff.ly/34RYNlm
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. My affiliate links usually provide either a free trial or discount so go try them out on me! Thank you for supporting DreamChasersRadio.com so I can continue to provide you with free content each week!
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™Yaya Diamond
Red Hot Reality Ent. LLC
Category
📺
TVTranscript
00:00Yeah, yeah, Domlin's Dream Chasers, we won't wait
00:17Subscribe today before it's too late
00:20Inspiration flowin' just like the breeze
00:23Chase your dreams and feel that evil
00:30Be good, be very good
00:34I absolutely love finances and we have our guest on the show today
00:39And I want to welcome him to the show
00:41Thank you so, so very much for being with us today
00:44So I want to get into this
00:46You said you wanted to take this kind of like a class
00:48Kind of like, I need a class
00:52I need a class
00:53I need a financial, I need a financial class
00:55And I'm ready for it
00:58I'm ready for it
00:59So take it away
01:02To understand finance
01:04You gotta understand
01:05Some
01:07Basic maths
01:11And
01:12Formulas
01:14You gotta know how to juggle the numbers
01:19Can anybody tell me what the square root of
01:23144 is
01:26Not without a calculator
01:29Sorry
01:32That happens in class very often, you know
01:36Yeah, that's why I probably am not in school anymore
01:39Yeah
01:41But typically
01:42When I teach a finance class
01:44I'll throw out a few one-liners
01:47About
01:49Arithmetic, math, or whatever
01:51Because
01:53In finance
01:54You gotta juggle numbers
01:56Frequently
01:57So I want to be sure the students
01:58Know
01:59Let's say
02:019th or 10th grade math
02:03Mm-hmm
02:04But regardless
02:06Personal finance
02:07Is really the
02:08Process of managing
02:09Your money
02:10To achieve
02:12Your life goals
02:16All of us
02:17After we
02:19Complete our education
02:20We secure a job
02:22Mm-hmm
02:23So you gotta take a look at that paycheck
02:25And make decisions on what you wanna do
02:28Right
02:29You certainly don't wanna spend all that paycheck
02:31The first
02:32Paycheck you get
02:34You certainly wanna put some money aside
02:37For the future
02:38Yeah
02:41Most likely
02:43You're gonna need a home
02:44Whether it be an apartment
02:46A condo
02:48Or a house
02:50Doesn't matter
02:52But you need to save money
02:55To secure
02:56A home
02:57Mm-hmm
02:58And then you also need to
03:01Secure money
03:02For other things
03:03You may need
03:05A lot of
03:06Finance people
03:08Say you got the
03:0950-30-20
03:10Ratio
03:1150%
03:12To necessities
03:1330%
03:14For
03:15Things you need
03:16On a regular basis
03:17Like food
03:18And 20%
03:19For savings
03:20Mm-hmm
03:21I always stress
03:22Savings
03:23Because
03:24We never know
03:26What's gonna happen
03:27In this world
03:29Are we gonna be able
03:30To keep our job
03:31For 40 or 50 years
03:33Or
03:34Will something happen
03:35Where we can't work
03:36For a few
03:37Months
03:38Or weeks
03:38You know
03:39You might be sick
03:40You might
03:41Have an injury
03:42So you always have to
03:44Save
03:45Some money
03:46And I typically advise people
03:49Save 20%
03:50And don't necessarily
03:52Have to put it into
03:53A piggy bank
03:54You can put it into
03:55A regular
03:56Savings
03:57Bank
03:57Or you can put it
03:58Into
03:58Some other type
04:00Of
04:01Reliable
04:02Securities
04:02Some stocks
04:03And bonds
04:07Nice
04:07Okay
04:08That's just
04:09Basically to start you off
04:11On your life
04:11You're gonna start
04:12Thinking
04:13Of where you're gonna live
04:15And how you're gonna
04:16Afford it
04:17Mm-hmm
04:18And that's where
04:19It comes
04:19Into crunching numbers
04:21A lot of times
04:22I'll tell people
04:25Your rent
04:26Should be about
04:2625%
04:27Of your paycheck
04:29But then people
04:30Will say
04:30Well
04:30My rent's
04:31$1,500
04:32That's big bucks
04:33You know
04:35I'd have to make
04:36I'd have to make some
04:36Big bucks
04:37To pay that
04:37$1,500
04:39And that's why
04:40Sometimes
04:42I've seen it happen
04:43Especially for young people
04:44You know
04:45Two or three people
04:46Will get together
04:46To rent
04:47A large apartment
04:48And they
04:49They split the rent
04:50Yeah
04:51Or
04:51If you're married
04:53Of course
04:53You and your spouse
04:54Are gonna
04:55Split the rent
04:56Right
04:58But
05:00Regardless
05:01It's gonna be
05:01All within your means
05:03All right
05:05So
05:08As time goes on
05:09Though
05:09You gotta
05:10You gotta manage
05:11Your debt
05:14When you first
05:15Leave your family
05:17Set up a home
05:18For yourself
05:19You know
05:20Obviously
05:21You gotta buy furniture
05:23You need to buy
05:24A car
05:27Or
05:28You may be
05:28On a bus line
05:30You may be
05:30In a major city
05:31Where you really
05:31Don't need a car
05:32But
05:34You still
05:34Got a budget
05:35For that
05:36You know
05:36Like in New York City
05:37There's not many
05:39People that live there
05:40That have cars
05:41Because everything's
05:42Done
05:42On the subway
05:44Yeah
05:45But you still
05:46Have to budget
05:46Money for that
05:47And
05:48Frequently
05:48In these major cities
05:51They have some deals
05:53I know
05:53I lived in
05:54The Boston area
05:54For a long time
05:55And they have some
05:56Deals
05:57You know
05:57You buy
05:58Enough for a month
05:59You get a
06:00Discount
06:01Things like that
06:03And
06:03Then you gotta
06:04Watch your tour
06:04Because they only allow you
06:05So many rides
06:07You know
06:07You be
06:08You gotta be a little
06:09Careful with
06:10Your money
06:12Kind of
06:13Spread it out
06:14The other thing is
06:16When you're first working
06:18Most likely
06:19They're gonna
06:24They're gonna give you a pension
06:25And then
06:27You decide
06:28What pension
06:29You wanna get into
06:31Usually
06:31Companies will have
06:36Maybe three or four
06:38Different
06:39Pensions
06:40Or
06:41Well
06:42Basically
06:43That's one pension
06:44But then you have
06:46Choices
06:47On what you wanna buy
06:50Or invest in
06:52Typically
06:53It's
06:54Stocks and bonds
06:55Now
06:56A stock
06:58You buy a stock
06:59You're a part
07:01Owner
07:01Of that business
07:03So
07:04Right
07:04You bought stock
07:05In Google
07:06Or you're a part owner
07:09And
07:10Sometimes
07:11The company
07:13Will give you
07:13Dividends
07:14Every quarter
07:17So
07:18If you buy some
07:20If the
07:22Pension
07:23Fund
07:24Includes some bonds
07:25Bonds
07:26Are an obligation
07:28Typically
07:28City
07:29Or state
07:30Or local
07:31Government
07:32Will sell
07:33Bonds
07:34Then
07:37The city
07:37Or state
07:38Is obligated
07:39To
07:40Pay that bond
07:41At the maturity
07:42Date
07:43A lot of these
07:43Bonds are anywhere
07:44From
07:4510 to 20 years
07:47Some are five
07:48And
07:49You buy it
07:50For a discount
07:50And when
07:51It matures
07:52You get the full
07:54Price
07:54Say you bought
07:54A thousand dollar
07:55Bond
07:56You're paid
07:57Nine hundred dollars
07:58When it matures
07:59Five, ten years
08:00Later
08:00You get the full
08:02Price
08:02A thousand dollars
08:03And in between
08:04Time
08:05You get interest
08:06So this is a wise
08:07Investment
08:10So you
08:10Have to make
08:11Decisions
08:13Yeah
08:14I'm zeroing in
08:15On the pension
08:16Plan
08:17Because
08:17Typically
08:18There's a lot
08:19Of choices
08:19In those pension
08:20Plans
08:21And typically
08:23New employees
08:24Say well
08:25Which one
08:26I should choose
08:26And it really
08:28Depends on your
08:28Personal preference
08:31The goal
08:31Is to
08:32Try to build
08:33Up some
08:33Money
08:34In that
08:34Pension
08:34Plan
08:35Because
08:36Someday
08:36You're going
08:37To need
08:38It
08:38When you
08:38Retire
08:39Yeah
08:40And sometimes
08:42What happens
08:44In business
08:44Today
08:46Sometimes
08:46You get
08:47Laid off
08:47No fault
08:48To your
08:48Own
08:48Right now
08:50AI
08:51Is a big
08:52Thing
08:52A lot
08:52Of people
08:52Have been
08:53Laid off
08:53So they
08:55Have to dig
08:55Into their
08:56Pension
08:56That's
08:56Their
08:56In a manner
08:57Of speaking
08:57That's
08:58Their
08:58Savings
08:59Can you
09:00Imagine
09:00If you
09:01Didn't
09:01Have
09:01Any
09:01Savings
09:01You got
09:02Laid off
09:02From
09:02Your
09:03High-tech
09:03Job
09:04What are
09:05You
09:05Going
09:05To do
09:05You
09:05You
09:06Might
09:06Only
09:06Have
09:07A couple
09:07Of
09:07Paychecks
09:08Sitting
09:08At
09:08Home
09:09Nothing
09:09Else
09:10So you
09:11Always
09:11Going
09:11To be
09:11Thinking
09:11About
09:12That
09:15And
09:18As
09:18You
09:18Go
09:18On
09:19If
09:19You
09:19Get
09:19Increases
09:20In
09:20Your
09:20Pay
09:20You
09:21Got
09:21To
09:21Make
09:21Decisions
09:22On
09:22What
09:22You
09:22Want
09:23To
09:23Do
09:25But
09:26Let's
09:26Go
09:26Back
09:28Complete
09:28Your
09:29Education
09:29You
09:30Secure
09:30That
09:30First
09:32Respectable
09:33Job
09:33You're
09:34Happy
09:34Then
09:35You
09:35Meet
09:36A
09:36Significant
09:36Other
09:37You
09:37Talk
09:37About
09:37Getting
09:38Married
09:38Or
09:38Living
09:38Together
09:39Or
09:39Whatever
09:39They
09:39Do
09:40Today
09:41Then
09:42You
09:42Got
09:42To
09:42Make
09:42Decisions
09:43Where
09:43You
09:43Want
09:43To
09:43Live
09:44Yeah
09:45Do
09:45You
09:46Want
09:46To
09:46Rent
09:46Do
09:47You
09:47Want
09:48To
09:48Buy
09:48A
09:48Condo
09:49You
09:50Want
09:50To
09:50Buy
09:50A
09:50House
09:51That's
09:52All
09:53Expensive
09:55Propositions
09:55A
09:56Lot
09:56Of
09:57Young
09:57People
09:57We'll
09:58Go
09:58With
09:58A
09:59Condo
09:59For
10:00First
10:00Home
10:00And
10:01Hopefully
10:02It
10:02Will
10:02Appreciate
10:03And
10:03Value
10:04And
10:05Then
10:05Move
10:05Into
10:05A
10:06House
10:07Although
10:08Today
10:09A
10:10Lot
10:10Of
10:11The
10:11Houses
10:11Are
10:13Very
10:13High
10:14I
10:15Got
10:15My
10:15Boss
10:15Calling
10:16Me
10:16Here
10:16Yeah
10:17You
10:18Want
10:18Me
10:18To
10:18Pause
10:18It
10:21Wait
10:22A
10:22Minute
10:22Yeah
10:23Pause
10:23It
10:23I
10:24Put
10:24The
10:25Video
10:26On
10:26We're
10:27Good
10:27What
10:27I'm
10:27Trying
10:28To
10:28Do
10:28Is
10:28Carry
10:29You
10:29Through
10:29From
10:31Your
10:32Graduation
10:33From
10:33School
10:34And
10:34Going
10:35Forward
10:36In
10:36Life
10:37And
10:38Like I
10:38Said
10:39You
10:40Definitely
10:40Want
10:40Some
10:41Place
10:41To
10:41Live
10:42You
10:43Definitely
10:43Want
10:43Some
10:43Place
10:44Where
10:44It's
10:45A
10:45Relatively
10:45Easy
10:46Commute
10:46To
10:47Your
10:47Job
10:48Whether
10:48You're
10:48Going
10:48On
10:49A
10:49Car
10:49Or
10:50Other
10:52Public
10:53Transportation
10:53And
10:54I
10:54Keep
10:54Referring
10:55To
10:55Boston
10:55Because
10:56I
10:56Lived
10:56In
10:57That
10:57Area
10:57For
10:57Quite
10:57Some
10:58Time
10:59You
10:59Get
10:59To
10:59Know
11:01The
11:01Subway
11:02System
11:02When
11:02To
11:03Get
11:03On
11:03Things
11:03Like
11:04That
11:04Yeah
11:04You
11:05Get
11:05To
11:05Know
11:05How
11:05You
11:06Can
11:06Get
11:08Some
11:08Reduced
11:09Rates
11:09If
11:10You
11:10Buy
11:10Monthly
11:10Passes
11:11Or
11:12You
11:13Know
11:13Three
11:13Four
11:14Month
11:14Passes
11:15You
11:16It's
11:16All
11:16About
11:16Budgeting
11:17Your
11:17Money
11:19And
11:22And
11:22As
11:23You
11:23Get
11:24Involved
11:24With
11:24Your
11:25Work
11:25Most
11:26People
11:26Will
11:26Want
11:26To
11:26Advance
11:27In
11:28The
11:28Job
11:28So
11:29You
11:29Will
11:29Get
11:30Pay
11:30Raises
11:30You
11:30Want
11:31To
11:31Make
11:31A
11:31Decision
11:32On
11:32What
11:32You
11:32Want
11:32To
11:32Do
11:33With
11:33That
11:35And
11:36Of
11:36Course
11:37There's
11:37Typically
11:39There's
11:41Pensions
11:41You
11:42Know
11:42Almost
11:42All
11:42The
11:43Companies
11:43Today
11:43Have
11:44Pensions
11:45And
11:46You
11:46Want
11:46To
11:59Be
12:00Plan
12:00In
12:00The
12:00Class
12:00Room
12:01You
12:01Know
12:01I'll
12:02Pull
12:02Out
12:03A
12:03Pension
12:04Plan
12:04And
12:05I'll
12:06Identify
12:07The
12:08Companies
12:09That
12:10The
12:10Pension
12:10Plan
12:11Is
12:11Investing
12:12In
12:12You
12:13Know
12:13For
12:13Example
12:13Starbucks
12:17Amazon
12:18I
12:19Mean
12:19Those
12:19Are
12:19Leading
12:20Companies
12:20Now
12:21Microsoft
12:22But
12:24There's
12:25Some
12:25AI
12:25Companies
12:26Coming
12:26Up
12:26Too
12:27They're
12:28In
12:28The
12:28Works
12:28So
12:29You
12:29May
12:29Want
12:29To
12:30Keep
12:30An
12:30Eye
12:30On
12:30That
12:31If
12:31The
12:31Pension
12:32Plan
12:34Gets
12:35Involved
12:35With
12:35It
12:35You
12:36Want
12:36To
12:36Get
12:36An
12:36Idea
12:37Of
12:38How
12:38Much
12:38Money
12:38You
12:39Can
12:39Accumulate
12:42So
12:42That's
12:43The
12:43Whole
12:43Idea
12:44Really
12:44Of
12:47When
12:47You're
12:48Employed
12:48To
12:50Accumulate
12:51Some
12:51Money
12:51And
12:52Don't
12:52Be
12:52Foolish
12:53To
12:53Go
12:54Out
12:54And
12:54Party
12:54On
12:55Friday
12:55And
12:55Saturday
12:56Night
12:56And
12:57All
12:57A
12:58Sunday
12:59Morning
12:59You
12:59Wake
12:59Up
13:00What
13:00Happened
13:01To
13:01My
13:01Money
13:04For
13:05Real
13:06I
13:07Can
13:08Relate
13:08Because
13:09I
13:09Was
13:09Young
13:09At
13:09One
13:10Time
13:10And
13:10The
13:11College
13:11Years
13:12And
13:12Shortly
13:12After
13:13That
13:13You're
13:13Still
13:13Kind
13:14Of
13:14In
13:14A
13:14Party
13:15Mood
13:15You're
13:16Not
13:17Settled
13:17Down
13:18You
13:18Don't
13:18Have
13:18A
13:20Family
13:20And
13:21You
13:21Might
13:21Be
13:21Living
13:22With
13:22A
13:23Partner
13:23Or
13:24Married
13:24But
13:25You
13:26Know
13:26Without
13:26A
13:26Family
13:26Sometimes
13:27Without
13:27Any
13:27Children
13:28I
13:28Should
13:28Say
13:28Sometimes
13:29You're
13:29Out
13:29There
13:30Blowing
13:30Some
13:30Money
13:31You
13:32Just
13:32Want
13:33To
13:33Be
13:33Careful
13:34On
13:35What
13:35You
13:35Do
13:35Yeah
13:40Yeah
13:40You
13:41Know
13:41I
13:41Was
13:41Going
13:42To
13:42Ask
13:42Your
13:42Question
13:43You
13:43Know
13:43When
13:44It
13:44Comes
13:44To
13:45Finances
13:45A
13:46Lot
13:46Of
13:46People
13:46Get
13:47Like
13:47With
13:48These
13:48People
13:48They
13:49Think
13:50That
13:50Finances
13:51Is
13:51Everything
13:52And
13:52It
13:52Is
13:52Great
13:53And
13:53It
13:54Has
13:54Its
13:54Place
13:55But
13:56Together
13:57Would
13:57You
13:58Do
13:58Your
13:58Finances
13:59Separately
13:59If
13:59You
14:00Were
14:00With
14:00Someone
14:00Or
14:01Should
14:01You
14:01Do
14:01It
14:01With
14:02That
14:02Someone
14:02Even
14:03If
14:03They
14:03Don't
14:04Understand
14:04It
14:06With
14:06Your
14:07Partner
14:07In
14:07Life
14:07You
14:07Mean
14:08Yes
14:12Well
14:12If
14:13You
14:13Got
14:13A
14:13Good
14:14Relationship
14:14With
14:14Your
14:14Partner
14:18Both
14:18Of
14:19Should
14:20Understand
14:20It
14:21Let's
14:21Say
14:21One
14:21Knows
14:22It
14:22Better
14:22Than
14:22The
14:22Other
14:23That
14:23Person
14:24Really
14:24Has
14:25An
14:25Obligation
14:26Of
14:26Saying
14:26Look
14:26This
14:27Is
14:27How
14:27It
14:27Works
14:29And
14:29Sometimes
14:31Depending
14:32On
14:32How
14:32Much
14:32Money
14:32They
14:32Have
14:33Sometimes
14:34To
14:34Go
14:34To
14:34A
14:35Professional
14:35That
14:36Will
14:36Help
14:36Guide
14:37The
14:38Way
14:42Because
14:42The
14:43Basic
14:43Thing
14:44Is
14:44You
14:44Get
14:45A
14:45Paycheck
14:45And
14:45You
14:46Got
14:46A
14:46Pension
14:46Plan
14:46And
14:47Then
14:47You
14:47Looking
14:48For
14:48Home
14:48But
14:49Other
14:49Than
14:49That
14:50If
14:50You're
14:51Making
14:52Well
14:53Above
14:53Average
14:54Income
14:54You
14:54Want
14:54To
14:55Do
14:56Something
14:56Without
14:57Money
14:57You
14:58Might
14:58Want
14:58To
14:58Invest
14:59In
15:00Some
15:00Stocks
15:01On
15:02Your
15:02Own
15:03And
15:05Right
15:06Now
15:06For
15:07Several
15:07Years
15:07Now
15:08Google
15:09Has
15:09Been
15:09Top
15:09Dog
15:10But
15:10You
15:12May
15:12Want
15:12To
15:13Speak
15:14With
15:15A
15:16Stock
15:16Broker
15:16And
15:17Then
15:18Explain
15:18To
15:19Stock
15:19Broker
15:19What
15:20You
15:21Want
15:24Do
15:24Want
15:25Solid
15:25Companies
15:26Do
15:26Want
15:27Companies
15:28That
15:28May
15:29Do
15:30Well
15:33Elon
15:34Musk
15:34Is
15:34Getting
15:35Ready
15:35To
15:35Do
15:35Initial
15:36Public
15:37Offering
15:37On
15:38SpaceX
15:38And
15:39There's
15:39A
15:39Lot
15:40Of
15:40Talk
15:40About
15:41It
15:44That's
15:45A
15:45Whole
15:45That's
15:46A
15:46Kind
15:47Of
15:47A
15:47Little
15:48Bit
15:48Different
15:48Issue
15:49Than
15:49The
15:49Standard
15:49Looking
15:50At
15:51A
15:51Bunch
15:52Of
15:52Stocks
15:52Right
15:53But
15:54Interesting
15:55Nonetheless
15:55Go
15:56Ahead
15:56I
15:57Said
15:57Interesting
15:58Nonetheless
15:59Yeah
16:00You
16:01Know
16:01Over
16:01The
16:01Years
16:01Naturally
16:02I
16:02Followed
16:02Quite
16:03A
16:03Few
16:03Of
16:03The
16:03Initial
16:05Public
16:05Offerings
16:06Years
16:07Ago
16:07When
16:11Google
16:13Got
16:13A
16:13Different
16:14Name
16:14I
16:14Keep
16:14Calling
16:14It
16:15Google
16:15I
16:15Started
16:15Back
16:16In
16:16The
16:16Mid
16:171990s
16:17ABC
16:17Or
16:18Something
16:18Like
16:18That
16:18ABC
16:21Yeah
16:21Yeah
16:23Well
16:24When
16:24They
16:24First
16:24Started
16:25I
16:26Love
16:26Telling
16:27This
16:27Story
16:27To
16:27To
16:28The
16:29Class
16:31They
16:31Started
16:32With
16:33What
16:33Used
16:33To
16:33Be
16:33A
16:34Walkie
16:34Talkie
16:34They
16:35Were
16:35Fooling
16:36Around
16:36With
16:36Electronic
16:37Gadgets
16:38And
16:39They
16:39Wanted
16:40To
16:40Be
16:40Able
16:40To
16:41Communicate
16:41From
16:41One
16:42Room
16:42To
16:42Another
16:43So
16:44They
16:44Built
16:45Their
16:45Gadget
16:46In
16:47A
16:47Garage
16:48This
16:48Is
16:48Where
16:49They
16:49Were
16:49Living
16:49In
16:50A
16:50Garage
16:50And
16:52They
16:53Were
16:53They
16:54Didn't
16:54Own
16:54The
16:54Home
16:55They
16:55Were
16:55In
16:55They
16:56Were
16:56Renting
16:57Second
16:58Floor
16:59When
17:00I
17:00Say
17:00There
17:00Was
17:00Two
17:01Guys
17:01That
17:01Started
17:01They
17:02Were
17:02Going
17:02To
17:03One
17:03Of
17:04Those
17:06Top
17:07Knop
17:07Schools
17:07Out
17:08In
17:08Washington
17:08But
17:09Anyway
17:10So
17:11One
17:11Of
17:11Them
17:11Stayed
17:12Up
17:12In
17:12Their
17:13Bedroom
17:15And
17:15The
17:15Other
17:15One
17:16Went
17:16In
17:16The
17:16Garage
17:16And
17:17They
17:17Had
17:17The
17:18Wire
17:18Mechanisms
17:19All
17:19Hooked
17:19Up
17:21And
17:21All
17:21A
17:22Sudden
17:22They
17:23Could
17:23Hear
17:23Each
17:23Other
17:24Talking
17:24To
17:24Each
17:25Other
17:25And
17:26It
17:26Reminded
17:26Me
17:26Of
17:27The
17:27Walkie
17:27Talkies
17:28That
17:28We
17:28Used
17:28To
17:28Have
17:28When
17:29We
17:29Were
17:29Children
17:30But
17:31That
17:31Is
17:31How
17:31The
17:32Business
17:32All
17:32Started
17:34And
17:35It
17:35Started
17:36Taking
17:36Off
17:37I
17:37Hope
17:37You
17:38Don't
17:38Mind
17:38Me
17:38Talking
17:39About
17:39This
17:39Story
17:39Because
17:40To
17:40Me
17:40It
17:40Just
17:40A
17:40Fun
17:41Story
17:42Yeah
17:42Definitely
17:42Go
17:43Ahead
17:43Yeah
17:43So
17:45When
17:45The
17:45Business
17:46Started
17:46Taking
17:47Off
17:47In
17:48The
17:48Early
17:482000
17:49They
17:49Decided
17:50To
17:50Sell
17:51Shares
17:51On
17:52The
17:52Stock
17:52Market
17:54And
17:54Of
17:54Course
17:55Everything
17:55Has
17:55To
17:56Be
17:56Reviewed
17:57And
17:57Analyzed
17:58By
17:58The
18:00People
18:01That
18:01Run
18:01The
18:01Stock
18:02Market
18:02To
18:03Be
18:03Sure
18:03That
18:03It
18:04It
18:04A
18:04Legitimate
18:04Operation
18:06So
18:07Their
18:08Initial
18:08Offering
18:09Was
18:10$100
18:10And
18:11Myself
18:12And
18:12Couple
18:12Other
18:12Guys
18:13Said
18:13$100
18:14For
18:14Buying
18:14That
18:15Walkie
18:15Talkie
18:15That's
18:16Just
18:16An
18:19Advancement
18:19To
18:20What
18:20They
18:20Had
18:20In
18:21World
18:21War
18:21II
18:21With
18:22The
18:22Walkie
18:22Talkies
18:23And
18:23We
18:23Kind
18:24Of
18:24Laughed
18:24At
18:24It
18:24$100
18:25For
18:25That
18:25You
18:26Already
18:26In
18:26Mind
18:28About
18:29Three
18:30Years
18:30Later
18:33It
18:33Was
18:37$170
18:39Practically
18:40Doubled
18:41Oh
18:42My
18:42Gosh
18:42Yeah
18:43So
18:43We
18:44Kind
18:44Of
18:44Kicked
18:44Ourselves
18:45In
18:45The
18:45Butt
18:46And
18:46Just
18:47Kept
18:47On
18:47Going
18:47Up
18:48And
18:48Up
18:48And
18:48Up
18:48And
18:49Up
18:49And
18:49I
18:50Said
18:50To
18:50Myself
18:52They're
18:52Going
18:52To
18:53The
18:53Moon
18:53I
18:53Can't
18:53Afford
18:54To
18:54Buy
18:54That
18:56That
18:56I
18:57Hope
18:57We
18:57Don't
18:57Mind
18:57Talking
18:58About
18:58This
18:59Story
18:59But
18:59No
19:00Go
19:01Ahead
19:01Go
19:01Ahead
19:01Yeah
19:03I
19:04Think
19:04It
19:04Was
19:04Probably
19:04About
19:06Eight
19:06Years
19:07Ago
19:07Maybe
19:07Ten
19:08They
19:09Decided
19:09To
19:10Do
19:10What
19:10Called
19:10A
19:10Reverse
19:11Split
19:11The
19:12Stock
19:12Was
19:12Selling
19:13For
19:13$300
19:14A
19:14Share
19:15I
19:16Said
19:16Myself
19:16I
19:17I
19:17Not
19:18Gonna
19:18Blil
19:18$300
19:18On
19:19That
19:19Even
19:19It's
19:19Good
19:19Company
19:21They
19:21Did
19:22A
19:22Reverse
19:23Split
19:25And
19:25The
19:25Stock
19:25Went
19:26Down
19:26To
19:26$100
19:27I
19:28Remember
19:28That
19:29Yeah
19:29I
19:30Remember
19:30That
19:31Because
19:31I
19:31Got
19:31It
19:34I
19:34Bought
19:35When
19:35It
19:35Went
19:35Down
19:36I
19:37Bought
19:37It
19:38I
19:38I
19:39Bought
19:39It
19:39Off
19:39On
19:40This
19:40So
19:40I
19:40Bought
19:40Some
19:41Shares
19:42I
19:42Did
19:43Too
19:43I
19:43Was
19:43Like
19:43Oh
19:44What
19:44I
19:45I
19:45I
19:45I
19:45I
19:45I
19:48yeah wow wow the whole issue here is even if you're not buying a stock like i did
19:56typically most people are in a pension plan and those people need to know what the pension plan
20:07says and many companies will have maybe two three four different types of pension plans so you're
20:13going to make decisions you don't have to make a decision the minute you read them you know
20:17sometimes i'll advise those young people you know go see a stockbroker you know or talk to somebody
20:24that really knows about this stuff yeah provide advice and figure out where your goals are are
20:30you going to be in this company for life you want to continue making contributions some of these
20:38companies allow you to make um extra contributions you want to do something like that you know what
20:43i mean you're going to make some decisions yeah an important issue to figure out very much so i mean
20:51think about it i mean you know i was thinking about this the other day i was like you know
20:55if i could
20:56change my financial status to be a little bit more on the plus side instead of the negative side you
21:02know sometimes you you find yourself in the deficit um if i could change it would it make me happy
21:08i
21:09i don't think happiness comes with financial gain however stability does and it would make me feel
21:16stable enough to understand and to maybe go after my dreams a little bit more and not have so many
21:22worries you know i think um the that people don't realize you know that career choices also do you go
21:30into
21:30career choices as well in this book oh yeah nice so i think career choices also you know um kind
21:39of
21:39add to stress levels and financial difficulties and things like that as well um if you could if you
21:47could um and i know the book again is called personal financial planning if you could uh just give one
21:54piece of financial advice to someone starting their financial journey today what would that
22:00advice be read carefully and be sure you understand what you're reading and think of the future
22:12say you're 22 years old just graduated from college
22:18you're going to take a look at what the company offers what they have for a pension plan and make
22:25decisions
22:28and if you're not sure
22:35about the pluses and minuses of all of all the benefits that you get and the retirement plan you
22:44should talk to somebody you know some type of professional that can provide some advice for you
22:51yeah yeah definitely wow read oh and with ai out there today you get a little bit more of a
23:02clarity of
23:02an understanding you know because you could put the pdf in the ai and actually have the ai and analyze
23:08it
23:08and give you the exact meaning of all the wordings that you're looking at a lot of people don't like
23:14that
23:14but that is true yeah it definitely is true yeah well said because uh to me ai is the newest
23:22electronic
23:23gadget and we all have to learn how to use it yeah it's not going anywhere it's what it's not
23:32going
23:32anywhere it's definitely not going anywhere anytime soon it's not going anywhere anytime soon and we have
23:38to deal with it and like you said in the beginning it's it's really um taking over a lot of
23:44different
23:44positions and jobs and things like that and people have to get used to using it yeah but i've lived
23:52long
23:52enough to see quite a quite a few changes in the business world really in the world as far as
24:00how
24:00uh what they use to work you know um my first job there was no personal computers um there were
24:12some
24:12large computer companies microsoft a few others but they didn't develop personal computers they had
24:20these big machines and we had to fill out these index cards and throw them into the computer and have
24:26it
24:27have it spit out and even back then there was no laptops so you know the secretaries were all using
24:36typewriters you know so yeah i come came from that era and today what we're doing today just
24:43pushing the right button you know what i mean i know i know i i remember i was a little
24:49girl when the
24:49commodore came out the commodore computer the desktop and you had to know computer programming in order to
24:56work it and so i i was taking my mom gave me a book to read about computer programming and
25:03then she
25:03gave me the commodore and it was huge it was huge the thing was big but that was my first
25:09computer ever
25:09and it was so expensive to have a computer back in those days like the personal computers were very
25:14expensive and i was like mom where'd you get this from she's like well you know she didn't tell me
25:21so i
25:22was like okay whatever and then i had to ask her what it was but i do remember that i
25:26remember the
25:27big computers too uh i remember them being in a lot of the movies that i saw a lot of
25:33the movies i saw
25:34i i thought they were just fake but you know as time went on i was like yeah that was
25:39wow yeah arc yeah wow
25:43yeah um i didn't really care for those big monsters because you know we have to stick the card in
25:50there
25:51and we get spit out and we get spit out on paper and you know i i don't know i
25:56just really never
25:57comfortable but when they but when the personal computers came out to me that was a huge ship
26:05yeah yeah definitely and there were no like windows and all that stuff you had to know computer
26:11programming it was just a black screen yeah i remember that i remember that wow you know that
26:18brings up another issue as far as lifelong work you know you need to learn the new technology as it
26:26comes in yeah even if it means you have to go to a local college to try to pick up
26:32on some of it
26:33i i know i live in springfield massachusetts and one of the colleges um several colleges when something
26:42new comes out they'll make sure they have some type of course may not be a whole semester course to
26:48help
26:49employees manage the new electronic gadget it's it's simply amazing yeah you're right you're right
27:02well wow dr rose thank you so much for being on the show is there anything that we missed today
27:07that
27:07you'd like to say um you know if we have more time i'll probably talk more about housing and uh
27:18what you need to do to buy a house and you know locations now what is it a half an
27:24hour show yep we're
27:25we're pretty much at the cusp right now yeah all right it's just it's just me inside me i get
27:33talking
27:34like this and i won't shut up you know it's okay i get the same way it's it's just so
27:40important for
27:41young people to get a grip on it yeah yeah i i agree i definitely agree and they can pick
27:49up your book
27:49personal financing of personal financial planning excuse me and uh it's it's financing too but personal
27:57financial planning uh and on amazon and are there any other places where they can get the book
28:06um you know i'm not sure i should probably talk to the publisher i know it's going to go on
28:10amazon
28:10mm-hmm and to me that that's a big hit because all you have to do is take your cell
28:16phone and swipe
28:18it and bang it goes right in there that's it new technology go figure yep and print on demand sometimes
28:25too so yeah yeah it's great it's great it's just wonderful there's no inventory you know which is
28:31even better all right thank you thank you i love this i wish i had more time but
28:40well you have to come back call me anytime okay all right don't call me at midnight no no we're
28:50not
28:50doing that but thank you so much and thank you guys so much for tuning in don't forget to
28:55dare to be different we're going to put the link to the descript in the description box to the book
28:58so it'll be easy for you guys to find that and go ahead and check out personal financial planning
29:04by dr kenneth j welch today on amazon and uh thank you dr welch again for being on the show
29:12you're welcome you're welcome all right until next time bye guys
29:29thank you for watching
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