[Script Info]
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[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:08.58,0:00:11.78,Default,,0000,0000,0000,,On the one hand, people\Nare really striving for homeownership,
Dialogue: 0,0:00:11.78,0:00:16.57,Default,,0000,0000,0000,,and people also like to improve themselves\Nby getting a higher education.
Dialogue: 0,0:00:16.57,0:00:19.52,Default,,0000,0000,0000,,But unfortunately, what a lot\Nof people don't talk about is
Dialogue: 0,0:00:19.52,0:00:21.96,Default,,0000,0000,0000,,on the other side of\Nthose two big goals,
Dialogue: 0,0:00:21.96,0:00:26.09,Default,,0000,0000,0000,,homeownership and college, is that\Nnasty little four-letter word, debt.
Dialogue: 0,0:00:26.09,0:00:30.86,Default,,0000,0000,0000,,And we've got $1.5 trillion \Nin student loan debt outstanding,
Dialogue: 0,0:00:30.86,0:00:32.80,Default,,0000,0000,0000,,a trillion dollars\Nin auto loans,
Dialogue: 0,0:00:32.80,0:00:35.57,Default,,0000,0000,0000,,so the challenge is how\Ndo you meet those goals
Dialogue: 0,0:00:35.57,0:00:38.85,Default,,0000,0000,0000,,without putting yourself\Nin the hole financially?
Dialogue: 0,0:00:42.41,0:00:45.72,Default,,0000,0000,0000,,Part of the big mistake that \Na lot of people make is ignoring it.
Dialogue: 0,0:00:45.72,0:00:48.77,Default,,0000,0000,0000,,So many people abdicate\Nfinancial responsibility.
Dialogue: 0,0:00:48.77,0:00:51.58,Default,,0000,0000,0000,,I'm all for people\Nhaving trusted advisors
Dialogue: 0,0:00:51.58,0:00:53.49,Default,,0000,0000,0000,,and accountability\Npartners,
Dialogue: 0,0:00:53.49,0:00:56.26,Default,,0000,0000,0000,,because I think that having\Nan expert in your corner
Dialogue: 0,0:00:56.26,0:00:58.89,Default,,0000,0000,0000,,definitely helps you to reach\Nyour goals more quickly,
Dialogue: 0,0:00:58.89,0:01:01.84,Default,,0000,0000,0000,,but what I don't like\Nis for people to just turn over
Dialogue: 0,0:01:01.84,0:01:06.53,Default,,0000,0000,0000,,their finances 100% to any\Nthird party, whether that's a spouse,
Dialogue: 0,0:01:06.53,0:01:09.25,Default,,0000,0000,0000,,a family member,\Nan advisor exclusively,
Dialogue: 0,0:01:09.25,0:01:12.27,Default,,0000,0000,0000,,without being plugged in\Nand engaged and sort of
Dialogue: 0,0:01:12.27,0:01:15.47,Default,,0000,0000,0000,,knowing what's going on\Nwith their finances.
Dialogue: 0,0:01:18.40,0:01:22.49,Default,,0000,0000,0000,,If you spend more than you earn,\Nyou will always be broke and in debt.
Dialogue: 0,0:01:22.49,0:01:25.94,Default,,0000,0000,0000,,That's economics, \Nyou will never get around that.
Dialogue: 0,0:01:25.94,0:01:29.46,Default,,0000,0000,0000,,And so it really doesn't matter\Nif you make $50,000, $150,000,
Dialogue: 0,0:01:29.46,0:01:32.100,Default,,0000,0000,0000,,$15 million, if you're\Nliving above your means,
Dialogue: 0,0:01:32.100,0:01:34.24,Default,,0000,0000,0000,,it's going to catch up\Nwith you.
Dialogue: 0,0:01:34.24,0:01:39.08,Default,,0000,0000,0000,,It's frankly, much easier to get out\Nof debt than it is to stay out of debt,
Dialogue: 0,0:01:39.08,0:01:43.23,Default,,0000,0000,0000,,because staying out of debt\Nrequires a mindset shift.
Dialogue: 0,0:01:43.23,0:01:46.15,Default,,0000,0000,0000,,It really does require you\Nto reorient your thinking
Dialogue: 0,0:01:46.15,0:01:48.28,Default,,0000,0000,0000,,and to not care so much\Nabout everything else
Dialogue: 0,0:01:48.28,0:01:49.78,Default,,0000,0000,0000,,that's going on \Naround you.
Dialogue: 0,0:01:49.78,0:01:53.57,Default,,0000,0000,0000,,And increasingly, as we move\Ninto this era of social media,
Dialogue: 0,0:01:53.57,0:01:56.03,Default,,0000,0000,0000,,I find that a lot of\Npeople fall victim to this,
Dialogue: 0,0:01:56.03,0:01:59.53,Default,,0000,0000,0000,,because they're watching their\NInstagram pages or on Facebook,
Dialogue: 0,0:01:59.53,0:02:01.68,Default,,0000,0000,0000,,and they're seeing\Nwhat other people have
Dialogue: 0,0:02:01.68,0:02:04.43,Default,,0000,0000,0000,,or the curated\Nversion, at least,
Dialogue: 0,0:02:04.43,0:02:05.79,Default,,0000,0000,0000,,of what people\Nwant you to see.
Dialogue: 0,0:02:05.79,0:02:09.17,Default,,0000,0000,0000,,The challenge is to understand\Nwhere was I a year ago?
Dialogue: 0,0:02:09.17,0:02:10.63,Default,,0000,0000,0000,,Where was I \Ntwo years ago?
Dialogue: 0,0:02:10.63,0:02:12.26,Default,,0000,0000,0000,,I'm not going to compare\Nmyself to others.
Dialogue: 0,0:02:12.26,0:02:15.04,Default,,0000,0000,0000,,I'm just going to benchmark\Nmyself against me
Dialogue: 0,0:02:15.04,0:02:16.92,Default,,0000,0000,0000,,and measure \Nmy financial progress.
Dialogue: 0,0:02:16.92,0:02:20.02,Default,,0000,0000,0000,,Once you start doing that and\Nkind of disassociating yourself
Dialogue: 0,0:02:20.02,0:02:23.19,Default,,0000,0000,0000,,to the extent that's possible from\Nwhat other people are doing,
Dialogue: 0,0:02:23.19,0:02:25.12,Default,,0000,0000,0000,,it actually really\Nliberates you.
Dialogue: 0,0:02:25.12,0:02:27.84,Default,,0000,0000,0000,,Because you start to say\NI'm on a unique path
Dialogue: 0,0:02:27.84,0:02:31.86,Default,,0000,0000,0000,,and that journey is all about me\Nand what my financial goals are,
Dialogue: 0,0:02:31.86,0:02:35.55,Default,,0000,0000,0000,,what my priorities are, and what\Nmy special considerations are
Dialogue: 0,0:02:35.55,0:02:38.46,Default,,0000,0000,0000,,given my family\Ncircumstances.
Dialogue: 0,0:02:41.93,0:02:44.70,Default,,0000,0000,0000,,One of the things that I think\Nwomen in particular need to do,
Dialogue: 0,0:02:44.70,0:02:47.17,Default,,0000,0000,0000,,especially young women who\Nare starting out in their careers,
Dialogue: 0,0:02:47.17,0:02:49.07,Default,,0000,0000,0000,,is to negotiate\Nmore.
Dialogue: 0,0:02:49.07,0:02:51.15,Default,,0000,0000,0000,,And this is true whether\Nor not you're an employee
Dialogue: 0,0:02:51.15,0:02:52.28,Default,,0000,0000,0000,,working for \Nsomebody else
Dialogue: 0,0:02:52.28,0:02:54.70,Default,,0000,0000,0000,,or you're a business owner\Nand you're charging clients.
Dialogue: 0,0:02:54.70,0:02:57.61,Default,,0000,0000,0000,,I think when women fail\Nto realize their value,
Dialogue: 0,0:02:57.61,0:03:01.06,Default,,0000,0000,0000,,it impacts them financially\Nfor decades to come.
Dialogue: 0,0:03:01.06,0:03:02.86,Default,,0000,0000,0000,,As a matter of fact,\Nresearch shows that
Dialogue: 0,0:03:02.86,0:03:05.92,Default,,0000,0000,0000,,women who don't negotiate,\Nthey actually lose out on about
Dialogue: 0,0:03:05.92,0:03:09.80,Default,,0000,0000,0000,,2 million dollars' worth\Nof earnings in their lifetime.
Dialogue: 0,0:03:09.80,0:03:13.12,Default,,0000,0000,0000,,So it's critical that women\Nsee themselves as capable
Dialogue: 0,0:03:13.12,0:03:15.19,Default,,0000,0000,0000,,and that they know\Ntheir worth and frankly,
Dialogue: 0,0:03:15.19,0:03:17.57,Default,,0000,0000,0000,,assert it and demand\Nthat they get paid
Dialogue: 0,0:03:17.57,0:03:19.78,Default,,0000,0000,0000,,what they are, \Nin fact, worth.