I plan to make $25 million in 2024 | Vivian Tu

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6M ago 1:10:54

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Vivian Tu, also known as "your rich BFF," shares her insights on personal finance and wealth-building. She emphasizes the importance of focusing on increasing your earning power rather than just saving money. Vivian discusses her journey from working on Wall Street to becoming a successful salesperson in tech and media. She also shares tips on legally avoiding taxes, the value of investing in index-tracking ETFs, and the power of creators in today's digital landscape. Vivian's goal is to help people achieve financial independence and create a better future for themselves and their families.

Watch the full interview here: https://youtu.be/xGZg8IiDNSg

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TIME-STAMPED SHOW NOTES:

(00:00) Vivian Tu shares her goal of being rich and desired wealth.
(06:00) Focus on increasing earning power rather than saving.
(07:16) Importance of learning and being selfish in job choices.
(09:50) Vivian's mom's reaction to her leaving JPMorgan.
(11:53) Tax-saving strategies: retirement accounts, mortgage interest, tax credits.
(14:28) Why do rich people buy high-end fake bags?
(16:04) Women providing for themselves and investing.
(20:16) Being flexible in partnership roles.
(21:10) Vivian's portfolio consists of index-tracking ETFs and target-date retirement funds.
(21:51) Slow and steady investing is recommended for most people.
(22:13) Chinese culture associates investing with luck and gambling.
(23:41) Vivian wrote a book to provide a comprehensive guide to personal finance.
(25:09) Vivian's business made $3.2 million.
(27:20) Vivian feels more fulfilled making $300k from her business.
(30:26) Instagram is a powerful platform for Vivian's content.
(33:01) Vivian Tu mentions the shift in attention spans and content delivery.
(34:00) Vivian Tu shares her content creation process and time allocation.
(37:31) Vivian Tu breaks down her revenue streams, with brand partnerships being the largest.
(41:40) Pricing yourself as a creator.
(42:30) Vivian Tu plans to expand into different mediums in the next five years.
(43:49) Vivian Tu talks about the structure of her core team.
(50:47) Vivian Tu talks about her best friend David Suh and how they empower each other in their businesses.
(53:01) Vivian values her friends who understand her experience.
(54:43) Vivian believes friendships should be a cost-benefit analysis.
(58:09) Some biases hinder certain minorities' success.
(1:00:35) Vivian empowers diverse talent in her hiring decisions.
(01:01:30) Vivian Tu talks about her family and work ethic.
(01:04:17) Vivian Tu shares her experience as an Asian American business creator.
(01:06:51) Vivian Tu shares where to find her book and online.

What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
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