Spare Change And Quiet Resilience
SPEAKER_00
0:00
When
I
was
younger,
I
grew
up
in
a
house
where
money
wasn't
really
discussed
openly.
Somehow
I
knew
it
was
tight.
My
parents
kept
one
of
those
giant
water
jugs
from
the
water
machine
in
the
bedroom,
not
for
water,
but
for
coins.
Pennies,
nickels,
dimes,
quarters,
they
filled
it
little
by
little,
one
sacrifice
at
a
time.
That
jar
bought
their
first
washing
machine,
their
first
vacuum
cleaner,
and
sent
me
to
my
first
camp.
I
grew
up
understanding
something
before
I
even
had
words
for
it.
Big
things
are
often
built
in
small
ways.
Resilience
isn't
always
dramatic.
Sometimes
it
isn't
a
grand
speech
or
some
cinematic
moment
where
life
changes
overnight.
Sometimes
resilience
looks
like
loose
change
on
a
kitchen
counter,
like
parents
quietly
choosing
to
go
without
so
their
children
can
have
more,
like
small
acts
repeated
over
and
over,
until
one
day
you
look
up
and
realize
they
built
a
future.
Maybe
that's
why
I've
always
believed
impact
works
the
same
way.
Relationships,
communities,
philanthropy,
wealth,
legacies,
very
few
things
happen
all
at
once.
Most
extraordinary
things
begin
a
spare
change
in
a
jar,
and
someone
believing
that
eventually
small
things
become
big
things.
My
father
was
incredibly
generous.
Philanthropy
wasn't
a
line
item
in
our
family,
it
was
a
value
system.
I
understood
Siddhaka
from
a
young
age.
Not
simply
charity,
but
justice,
responsibility,
and
the
belief
that
if
you
have
the
ability
to
help,
you
help.
But
financial
literacy,
budgets,
investing,
long-term
planning,
not
so
much.
I
cannot
remember
sitting
down
and
hearing,
here's
how
wealth
works.
There
wasn't
a
spreadsheet
presentation
at
the
kitchen
table,
no
conversation
about
compound
interest,
no
lesson
on
investing,
no,
here's
your
budget
for
the
month.
Instead,
my
dad
would
say,
How
much
do
you
think
you
want
to
spend?
Which,
in
hindsight,
feels
incredibly
generous,
but
also
slightly
terrifying.
Because
generosity
without
education
can
leave
you
with
beautiful
values
and
very
few
tools.
And
maybe
that
is
true
for
a
lot
of
women.
Many
of
us
were
taught
to
care
for
people,
how
to
volunteer,
how
to
give,
how
to
show
up,
but
not
necessarily
how
to
build
wealth,
steward
it,
grow
it,
and
understand
the
systems
that
shape
it.
And
now
later
in
life,
I
find
myself
learning
things
I
wish
I
had
learned
decades
ago.
Things
like
institutional
philanthropy,
donor-advised
funds,
planned
giving,
endowments,
legacy
strategies.
I
sometimes
wonder
if
I
am
late
to
the
conversation.
But
maybe
late
is
still
right
on
time.
Because
if
there's
one
thing
I
have
learned
over
three
decades,
moving
from
business
to
education
to
nonprofit
leadership
and
community
engagement,
it's
that
every
chapter
teaches
you
something
you
are
meant
to
learn.
And
today's
conversation
is
about
money,
yes.
But
it's
also
about
agency.
It's
about
creating
options.
It's
about
understanding
that
wealth
is
not
only
what
you
leave
behind,
it's
also
what
you
build
while
you
are
here.
And
that's
what
we're
going
to
tackle
today.
Meet Kelly Smith
SPEAKER_00
2:51
Hi,
I'm
Suze,
here
with
a
dose
of
culture,
values,
and
global
citizenship,
with
just
enough
chutzbah
to
tackle
the
topics
others
may
avoid.
Today's
guest
is
someone
who
has
spent
years
helping
people
think
differently
about
money,
philanthropy,
and
impact.
She
has
personally
taught
me
so
much
as
the
development
chair
of
my
personal
board
of
directors.
Kelly
Smith
is
a
wealth
and
philanthropic
advisor
with
B
and
C
Financial
in
Pontavidra
Beach,
and
her
work
reaches
far
beyond
numbers
and
portfolios.
Kelly
has
built
a
career
around
helping
individuals
and
families
align
resources
with
purpose.
She
is
also
deeply
invested
in
community
stewardship
and
leadership.
She
is
a
member
of
Women's
United,
a
pastine
fellow
through
United
Way
of
Northeast
Florida,
and
board
member
to
the
Planned
Giving
Council
of
Northeast
Florida.
Kelly
has
also
helped
create
opportunities
for
female
athletes
through
financial
literacy
initiatives
connected
to
her
work
with
the
LPGA,
recognizing
something
incredibly
important.
Talent
and
opportunity
are
only
part
of
the
equation.
Understanding
how
to
steward
success
matters
too.
Welcome,
Kelly.
Student Loans And A Career Pivot
SPEAKER_00
3:53
Hi,
thanks
for
having
me.
Thanks
for
being
on
Schmooz
with
Suze.
I
want
to
talk
a
little
bit
about
your
path.
How
did
wealth
advising
and
philanthropy
become
your
lane?
And
would
Kelly,
the
young
Kelly,
be
surprised
or
understand
entirely
where
you're
sitting
today?
Oh
gosh.
No.
SPEAKER_01
4:10
So
young
Kelly
wanted
to
be
an
attorney
and
got
into
law
school
and
didn't
love
law
school.
I
interned
in
a
federal
courthouse
and
I
knew
right
away
it
was
not
for
me.
And
I
don't
think
I
ever
thought
this
would
be
my
lane
or
this
would
be
where
I
would
end
up.
Um
I
think
it's
meant
to
be.
It's
Beshared.
It
is
maybe
my
destiny.
But
uh
I
graduated
school,
uh
college.
I
received
my
diploma
days
before
9-11.
And
in
addition
to
receiving
my
diploma,
my
parents
handed
me
a
coupon
book.
And
it
wasn't
coupons
to
go
buy
things,
it
was
how
I
would
repay
my
student
loans
every
month.
And
it
was
in
that
moment
receiving
my
diploma
in
the
mail
and
the
coupon
book
for
the
next
probably
10
to
20
years
of
my
life
repaying
six
figures
of
debt
that
I
had
accrued
going
to
college.
Now,
being
the
first
in
my
family
to
go
to
college,
I
don't
think
any
of
us
knew
what
we
were
diving
into.
We
didn't
we
didn't
necessarily
understand
student
loans,
parent
loans
first
they
call
this
a
grant,
but
is
it
really
a
grant
or
is
it
a
loan
with
low
interest?
Like
what
is
accumulating
here?
And
I'm
not
sure
that
my
dad
understood.
Um
I
don't
think,
you
know,
we
signed
our
names
to
those
papers
and
and
that
was
that.
We
were
just
excited
I
was
going
to
college
and
I
would
be
the
first
to
get
a
degree.
And
at
20,
almost
one
year
old,
uh,
I
did
I
graduated
college
pretty
young
because
I
could
see
how
much
debt
I
was
accruing,
and
I
was
like,
I
need
to
get
out
of
this
mess.
So
I
started
taking
18
credits
a
semester.
And
I
had
gone
dual
enrollment
into
law
school,
and
I
discovered
pretty
quickly
that
this
wasn't
my
path.
And
so
I
took
my
bachelor's
degree
and
I
pivoted,
um,
I
started
working
full-time,
and
I
was
at
I
was
attending
graduate
school
at
night
um
in
a
different
field,
thinking
maybe
that
would
be
my
path.
Um
and
I
was
studying
sociology
at
a
state
school
and
paying
cash
for
that
degree
because
it
was
a
very
quick
lesson
learned
when
you
saw
the
amount
of
coupons
in
the
book
and
the
length
of
time
it
was
gonna
take
you
to
pay
back
that
money,
yeah.
But
also
within
days,
seeing
the
world
change
forever
and
the
job
market
changed
forever.
SPEAKER_00
6:53
It
was
it
was
a
major
pivot.
So
was
there
a
defining
moment
where
you
realize
that
money
and
meaning
could
coexist
professionally
where
it
was
more
than
just
paying
back
a
coupon
book,
it
was
something
that
was
far
greater.
Now
that
you
were
the
first
person
to
graduate
college,
you
would
not
be
the
last
person,
and
so
you
needed
to
put
the
steps
into
place.
Yes.
SPEAKER_01
7:20
Um,
and
so
it
was
actually
in
my
in
my
first
role.
Um
I
was
working
in
the
trust
and
estate's
office
for
a
really
large
national
uh
nonprofit
organization,
and
uh
I
had
a
great
mentor
and
boss
who
was
teaching
me
a
great
deal.
Um
but
it
was
in
that
moment
of
him
taking
me
to
meet
with
a
donor
to
the
institution
that
was
looking
to
really,
you
know,
make
a
transformational
gift
and
being
able
to
sit
down
with
these
individuals
and
have
that
conversation
about
the
why,
the
purpose,
the
meaning,
how
they
earned
the
money,
what
they
wanted
it
to
do
after
they
were
gone,
and
really
putting
all
the
pieces
in
my
life
together.
Like
I
had
seen,
you
know,
my
dad
is
Catholic,
and
I'd
seen
him
attend
church
and
put
money
in
a
basket,
and
and
I'd
seen
my
um
my
mom
volunteer
and
give
back
and
help
children
and
and
do
food
drives
and
everything
she
could
to
help.
But
we,
like
you,
grew
up
um
not
with
a
lot
of
money.
Um
my
dad
worked
really
hard
and
he
is
at
he's
in
the
same
job
uh
at
the
same
place
that
he
has
worked
since
he
was
in
high
school.
Um
and
he's
70
years
old
and
working
there
today.
And
seeing
people
work
that
hard
and
devote
themselves
but
also
never
see
the
end
of
the
road
is
disheartening.
Like
we
all
deserve
a
time
in
our
lives
where
we
can
retire,
where
we
can
give
back,
where
we
can
do
what
we
want
to
help
repair
the
world,
um,
and
try
to
make
the
world
a
better
place.
And
I
knew
that
was
the
future
I
wanted
to
see,
whether
it
be
in
my
day-to-day
work
with
individuals
and
families,
or
it
be
in
my
own
personal
life.
Like
I
admired
not
just
what
I
saw
in
that
very
first
interaction
with
a
very
philanthropic
individual
who
was
looking
to
make
a
transformational
investment,
but
also
in
seeing
the
dedication
and
devotion
my
parents
put
into
their
community
and
their
lives
and
me.
And
you
know,
when
you're
19
or
20
years
old,
you
may
not
necessarily
see
the
financial
struggles
that
your
parents
probably
have
in
making
those
coupon
payments
while
you're
in
school,
so
you
can
be
in
school.
SPEAKER_00
9:55
Yeah.
Making Money Versus Building Wealth
SPEAKER_00
9:56
What
you're
talking
about
is
the
difference
between
making
money
and
building
wealth.
And
so
you
realized
early
that
there
was
a
definite
decision
that
someone
has
to
make
in
an
effort
to
move
beyond
the
present
to
make
it
a
future
type
of
individual.
What
would
you
say
the
major
difference
is
between
making
money
and
building
wealth?
SPEAKER_01
10:18
So
I'll
give
you
the
earliest
example,
and
and
I
am
a
mom,
I
have
an
11-year-old.
Um,
but
when
I
was
seven
years
old,
I
really
wanted
a
cabbage
patch
kid
doll.
Um
I
don't
know
if
you
remember.
SPEAKER_00
10:29
I
do,
I'm
from
the
1900s.
SPEAKER_01
10:31
I
really
wanted
one,
and
I
remember
it
cost
$28.
SPEAKER_00
10:34
Oh
my
god,
it
cost
$50
something
dollars
when
it
first
came
out
because
I'm
older
than
you.
And
my
parents
were
from
that
brush
of
people
that
had
the
first,
like
the
first
Toys
R
Us
like
brawl.
That
was
when
cabbage
patches
came
out.
SPEAKER_01
10:45
Well,
so
I
remember
I
was
allowed
to
get
the
doll,
but
I
was
$28
in
debt,
and
there
was
a
notebook
in
the
kitchen
drawer,
you
know,
like
the
junk
drawer
that
everyone
has
in
their
kitchen
and
two.
I
still
have
one,
yep.
And
so
my
mom
had
it
in
the
kitchen
drawer,
and
every
week
when
I
would
finish
my
chores
around
the
house
on
Sunday,
we
would
get
two
dollars.
Like
if
all
your
chores
were
done
on
Sunday,
you
would
get
your
two
dollar
allowance.
And
so
for
weeks
I
had
to
watch
the
minus
two,
minus
two
until
it
was
zeroed
out,
all
for
me
to
have
this
doll,
right?
So
I
like
to
use
that
example
as
like
that's
everything
that
goes
on
today
in
society,
right?
Like
you
see
something,
you
want
it,
whether
it
is
the
fancy
car
or
it
is
the
big
house
or
it
is
the
brand
new
sneakers
your
kid
wants,
right?
We
we
work
to
obtain
money
to
go
out
and
get
the
things
we
want,
right?
And
it's
like
a
hamster
wheel.
That's
just
like
working
to
have
things,
working
to
be
able
to
live
and
to
have
the
things
that
we
want
to
have.
And
it
can
be
a
vicious
hamster
wheel,
right?
Because
we
all
know
what
happens,
right?
You
get
that
one
cabbage
patch
kid
doll,
and
then
it's
like,
oh,
well,
I
really
want
like
two
or
three.
I
want
to
have
like
a
collection
of
them.
Right.
We
need
a
sibling,
we
also
need
like
the
baby
carrot,
right?
Like
those
are
things.
Yeah.
And
we
do
that
in
our
adult
lives
too,
right?
Like
we're
just
like
working
to
buy
the
things,
to
pay
for
the
things
to
exist.
And
we're
not
necessarily
thinking
about
the
future.
Whether
that's
how
will
we
pay
for
college
or
how
will
we
one
day
retire
and
live
a
life
that
we
want
to
live.
SPEAKER_00
12:22
That's
enjoyable
and
meaningful.
SPEAKER_01
12:24
Whether
that
means
gardening
in
your
backyard
and
volunteering
at
your
local
food
pantry
or
church
or
synagogue
and
having
the
free
time
to
give
back
to
do
good
in
the
world,
or
it
means
traveling
the
world
and
living
the
life
that
you've
always
dreamed
of.
In
order
to
do
that,
you
have
to
have
money
set
aside
for
that.
And
as
we
all
know,
life
gets
more
and
more
expensive
every
year.
And
you
have
to
know
how
to
plan
for
that.
And
so
you're
saying
you
can't
wing
it.
You
can't
wing
it.
You
can't
wing
it.
You
can't
just
at
50
years
old
say,
you
know
what,
one
day
I
want
to
retire,
and
this
is
the
kind
of
life
I
want
to
have.
I
recently
read
um
online
that
you
know,
there's
all
these
Facebook
groups
out
there
for
like
moms
and
working
women
and
this
and
that.
I'm
in
one
of
these
like
mom
groups
of
Jacksonville,
and
I
saw
a
woman
post
that
she
is
every
financial
advisor's
nightmare
because
she
doesn't
want
to
put
money
away
for
retirement
so
that
she
can
just
have
a
lot
of
money
to
pay
for
the
nursing
home
she'll
die
in.
And
I
like
I
had
to
stop.
And
I
never
comment,
I'm
sure
you
know
this,
like
I
never
comment
on
anything
in
these
public
forums.
SPEAKER_00
13:32
Right,
you
slide
into
my
DMs
like
normally.
SPEAKER_01
13:34
Like
I
send
you
a
message.
But
in
this
one,
I
had
to
comment
because
when
you
are
saving
for
retirement,
when
you
are
30,
40,
50
years
old
and
you're
putting
money
away
for
retirement,
or
even
at
20,
if
you're
smart,
start
saving
at
20.
When
you
are
putting
that
money
away
for
retirement,
you're
not
putting
it
away
to
be
comatose
in
a
nursing
home
at
98
years
old.
Might
that
happen?
It
absolutely
might.
But
what
I
like
to
tell
people
is
when
you
are
saving
that
money,
what
you
are
doing
is
you
are
slowly
planning
to
get
to
a
point
in
your
life
where
you
say,
you
know
what,
I
have
enough
money.
I
no
longer
want
to
go
to
this
9
to
5
or
midnight
to
8
or
whatever
your
schedule
is.
I
don't
want
to
do
this
anymore.
I
want
to
retire
and
I
want
to
do
something
I
control
with
my
time.
Like
I
said,
whether
it's
gardening
or
traveling
or
hanging
out
with
grandkids.
SPEAKER_00
14:25
Or
even
getting
a
nonprofit
job
that's
part-time
where
the
outcome
is
more
meaningful
or
necessary
than
the
income.
How
beautiful
is
that.
SPEAKER_01
14:33
Pivot
and
have
a
have
a
second
career
that
maybe
you
find
joy
and
pleasure
in,
and
you're
not
there
just
for
the
financial
reward
and
the
paycheck
and
the
salary.
That's
even
better.
I
actually,
my
Nana,
they
would
spend
six
months
a
year
down
in
South
Florida.
I
mean,
so
typical.
So
typical.
And
when
she
was
down.
Was
it
from
Boca
to
Miami?
Um,
Hollywood
Beach.
That's
where
my
mom
is
today.
Yep,
Hollywood
Beach.
And
she,
you
know,
raised
five
kids,
was
a
police
officer's
wife.
Like
she
always
had
things
to
do
back
home
in
Massachusetts.
When
she
retired,
she
got
a
part-time
job
working
in
a
gift
shop
that
sold
like
shell
jewelry
and
like
Florida
souvenirs.
And
it
was
on
the
beach.
It
was
cute
little
like
mom
and
pop
gift
shop,
and
she
loved
it.
And
we
would
always
get
these
like
cute
little
trinkets
and
gifts
from
her,
and
I
swear
she
spent
more
money
in
that
store
than
she
probably
ever
made.
But
it
brought
her
so
much
joy
to
get
to
meet
travelers.
SPEAKER_00
15:36
I
was
gonna
say
she
probably
was
like
you
and
loved
to
converse
and
loved
to
meet
new
people.
Short-Term Rules And Long-Term Plans
SPEAKER_00
15:40
So
let's
talk
a
little
bit
about
goals,
right?
Because
for
some
people,
they
have
been
doing
this
because
they
were
educated.
My
son
started
teaching
my
kids
compound
interest
when
they
were
three.
He
would
gladly
pay
you
Tuesday
for
a
hamburger
today,
and
if
you
give
them
the
dollar
today
and
you
let
it
sit
and
let
it
ride,
he
was
teaching
them,
and
I
wish
I
would
have
had
that
education
younger.
So,
for
someone
who
is
looking
at
short-term
goals,
what
could
they
establish
versus
someone
who
would
like
to
consider
long-term
goals
on
what
they
could
leave
behind?
So
are
we
talking
young
like
kids
or
are
we
talking
like
well,
I'm
in
the
same
mom's
groups
that
you
are,
and
women
are
often
caretakers
and
planners
and
emotional
labor
coordinators.
They
don't
necessarily
think
about
money
until
something
happens.
So
if
we're
talking
about
someone
between
the
ages
of
35
and
55,
someone
who
has
short-term
goals
that
they
want
to
kind
of
hit,
whether
it's
I
want
to
save
up
for
my
mommy
makeover,
or
long-term
goals,
like
I
do
want
to
ensure
that
my
kids
can
finish
college
without
student
debt,
which
to
me
is
the
greatest
gift
you
can
give
your
child
today.
SPEAKER_01
16:50
Okay,
so
let's
start
with
the
mom.
So
if
you're
a
mom
out
there
and
you
have
short-term
financial
goals
and
long-term
goals,
I
think
first
and
foremost,
you
always
want
to
make
sure
that
you
have
that
emergency
cash
on
hand,
right?
Like,
if
I
had
to
take
an
unpaid
leave
of
absence
for
work,
do
I
have
X
number
of
weeks
of
emergency
money
on
hand
to
keep
the
bills
paid?
Right?
Because
once
the
bills
stop
getting
paid,
late
fees,
interest,
like
it
becomes
a
spiraling
effect
that
can
really
hurt
people,
especially
when
they're
in
that
like
30
to
40
year
range,
right?
They've
got
a
lot
of
bills.
In
today's
world,
the
average
30
to
40-year-old
person's
got
the
mortgage
or
the
rent,
the
car
payment,
they're
probably
still
paying
student
loan
debt
off
if
they
didn't
have
college
paid
for
them.
Um
and
the
minute
all
of
those
bills
stop
getting
paid,
the
interest
starts
piling
up,
right?
So
you
absolutely
want
to
make
sure
you
have
that,
you
know,
emergency
cash
fund
that
could
help
me
survive
X
number
of
weeks
if
I
don't
have
a
salary
coming
in,
right?
And
I
think
for
me,
I
like
to
tell
people,
and
for
me
personally,
like
that
emergency
cash
on
hand
should
be
in
a
high
yield
savings
account,
not
a
savings
account
that
you're
getting
six
cents
every
three
months
on.
You
want
a
high
yield
savings
account
that
is
separate
from
your
day-to-day
bank
because
then
you're
less
likely
to
touch
it,
less
likely
to
transfer
money
over
to
spend
it
on
something
that
you
desire
today.
Um
and
I
think
whenever
you're
trying
to
work
towards
any
of
these
goals,
it's
also
important
to
make
a
rule
for
yourself.
Like
the
minute
I
feel
like
I
want
to
buy
something,
no
matter
big
or
small,
the
minute
I
want
to
place
that
Amazon
order
or
I
want
to
dive
into
Target
for
like
a
30-minute
just
like
mind
break,
before
you
make
those
purchases,
think
like,
do
I
really
need
this?
Or
like,
you
know
what,
I'm
gonna
put
it
in
the
cart,
but
I'm
gonna
think
about
it
for
a
day
or
two
and
see
if
I
really
want
it.
Because
in
today's
world,
what
we
are
all
dealing
with
is
so
different
than
what
our
moms
and
nanas
dealt
with.
There
was
no
instant
gratification,
there
was
no
Amazon,
there
was
no
like
target
cart
drive
up
and
they
bring
in
the
phone.
Dopamine
hits.
Yes.
And
that
this
like
spending
society
that
we
live
in,
it's
a
life
of
excess.
Like
there's
there's
so
much
that
we
buy
that
we
don't
need
that
gets
delivered
to
us.
And
did
we
really
need
like
a
monthly
subscription
to
XYZ
and
now
we're
getting
it
every
30
days?
Like
I
constantly
tell
people
short-term
goals,
look
at
your
subscriptions,
cancel
the
ones
you're
not
using.
If
you
don't
need
a
subscription
to
it,
like
you
could
pay
10%
more
if
you
just
didn't
have
the
subscription
when
you
need
to
get
it.
Yeah.
These
subscriptions
and
streaming
services,
they're
taking
money
away
from
people
and
you're
not
realizing
that
it's
happening.
So
also
evaluate
that.
When
it
comes
to
long-term
goals,
if
you
are
working
and
you
have
a
benefits
package
that
includes
any
form
of
retirement
plan,
you
should
be
contributing
to
that
retirement
plan.
And
in
most,
not
all,
but
in
most
cases,
there's
usually
a
company
match,
right?
So
if
you
don't
contribute,
you're
leaving
money
on
the
table,
like
free
money
your
employer
is
gonna
add
into
your
retirement
account.
And
in
our
world,
unlike
our
parents
and
grandparents,
right,
pensions
don't
exist.
They're
not
a
norm
anymore.
They're
few
and
far
between.
So
we
have
to
save
for
our
own
retirement.
And
the
future
of
Social
Security
is
unknown.
We
know
it's
there,
but
we
can't
count
on
the
benefit
that
we
may
think
we
will
get
when
Social
Security
comes.
We
need
to
plan
outside
of
that.
And
I
don't
care
if
you're
22
years
old
in
your
first
job
or
you're
60
years
old
and
a
few
years
away
from
retirement,
make
those
contributions
into
your
retirement
plan.
You're
you
don't
want
to
leave
the
match
money
on
the
table
if
your
employer
will
match.
And
by
contributing
to
your
retirement
plan,
you're
reducing
your
taxable
income.
So
you'll
end
up
paying
less
in
taxes
right
now.
SPEAKER_00
20:49
So
it's
free
money
and
it's
saving
money
that
you
would
be
giving
away
to
the
government.
And
if
you
start
earlier,
which
I
touched
on
compound
interest,
you're
talking
about
it
growing
over
time.
SPEAKER_01
21:00
You
know,
you
can
uh
anyone
could
Google
this,
right?
So
you
look
up
the
rule
of
seven,
like
in
investing,
right?
So
like
you
you
have
this
like
model
where
you
can
basically
say,
like,
on
average,
there's
no
guarantee
in
investing,
right?
Like
investing
is
a
gamble
in
some
ways.
There
is
no
guaranteed
return.
But
over
time,
you
know,
researchers
have
studied
the
stock
market.
You
can
look
it
up
on
Morningstar,
and
over
the
course
of
from
1970
to
2020,
you
can
follow
investments
and
at
a
certain
risk
tolerance
level,
you
can
see
that
about
every
10
years
the
investment
will
double.
Right?
And
again,
no
guarantee
because
we
can
never
guarantee
anything
in
the
investment
world.
But
if
you
start
today
and
you
are
slowly
depositing
money
every
paycheck,
by
the
time
you
get
to
that
retirement
age,
you
will
certainly
have
the
resources
you
need
to
build
a
life.
Now,
if
you're
left.
Is
really
lavish
and
you
want
that
kind
of
lifestyle
where
you're
going
on
a
a
vacation
or
a
six-month
cruise
or
something
like
that,
you
need
to
plan
for
that
as
well.
You
need
to
put
extra
away.
You
need
to
hit
the
hit
the
max
and
then
maybe
invest
in
another
way.
Or
when
you're
in
your
50s,
take
advantage
of
catch-up
contributions
where
you
can
do
more
than
the
you
know
standard
contributions.
Service Mindset And Community Needs
SPEAKER_00
22:24
So
learning
about
money
is
the
first
step
in
knowing
what
to
do
with
your
money
and
not
being
afraid
to
ask
those
questions.
For
you,
who's
somebody
who's
been
a
community
steward,
and
coming
from
a
background
where
philanthropy,
although
with
a
little
P,
right?
I
called
it
Sadaka,
you
said
pass
around
the
plate.
Those
are
very
visceral
images
that
remind
me
of
the
kind
of
childhood
I
had
and
the
kind
of
world
that
I
grew
up
in.
Um
how
has
service
and
involvement
informed
your
work
in
your
professional
life?
SPEAKER_01
22:59
So
for
me,
one
of
my
first
experiences
that
always
stays
with
me
is
my
grandfather
and
a
friend
of
his
would
um
a
couple
times
a
year
they
would
participate
in
these
food
drives
where
people
would
leave
paper
bags
of
canned
goods
and
non-perishables
on
their
stoops.
I
lived
in
the
city,
like
they
would
leave
them
on
the
stairs.
They
would
leave
them
like
on
the
stairs
or
the
front
porch
area,
I
guess
you'd
call
it.
And
me
and
a
friend
or
two
friends,
we
would
sit
in
the
back
of
like
the
postal
service
mail
truck,
and
we
would
jump
out
every
couple
of
houses
and
go
collect
all
that
food.
And
by
the
end
of
the
day,
we'd
have
brought
back
ten
mail
trucks
full
of
food,
and
then
we
would
spend
time
in
the
warehouse
sorting
all
the
food,
and
fast
forward
the
next
day,
we
would
help
operate
the
food
pantry.
And
it's
in
a
moment
like
that
where
I
at
a
young
age
realized
there
are
people
that
simply
don't
have
enough
to
eat,
like
a
basic
necessity,
a
basic
need
in
this
world.
They
they
don't
have
enough
food,
and
they
most
likely
can't
afford
to
go
to
the
grocery
store
and
buy
the
food
that
they
want.
So
they're
coming
here
to
this
warehouse
where
they
have
to
pick
and
choose
from
what
was
donated.
And
they
have
to
be
willing
to
eat
that.
And
I
say
that
to
you
as
a
mom,
right?
Like
we
have
these
kids
that
like
you
can
put
food
on
their
plate
and
they're
like,
I'm
not
eating
that,
and
they
will
like
stand
their
ground
and
not
eat
it.
And
in
this
situation,
I
go
back
to,
you
know,
our
kids
would
say
somet
our
parents
would
have
said
something
like,
There's
starving
children
in
XYZ
country,
or,
you
know,
whatever
was
going
on
in
1982.
But
in
reality
today,
I
can
look
my
son
in
the
eye
and
I
can
say
to
him,
There
are
people
that
would
love
to
have
this
hot,
home
cooked
plate
of
food
that
we
have
made
for
you,
prepared
for
you,
and
purchased
to
our
liking,
whatever
we
wanted.
And
on
the
flip
side,
right
down
the
street,
not
in
another
country,
right
in
our
neighborhood,
right
in
our
community,
there
are
people
that
have
to
wait
for
the
day
the
food
pantry
is
open
to
go
get
that
food.
And
it
was
like
that
in
1985,
1990,
and
it's
still
like
that
today.
And
so
I
always
go
back
to
that
like
message
when
I'm
talking
to
my
own
son
and
when
I'm
thinking
about
just
basic
needs,
right?
And
so
for
me
today
in
my
life
and
in
my
home
and
in
my
personal,
you
know,
financial
being,
my
small
family
of
three
and
our
two
amazing
rescue
dogs,
we
have
more
than
we
need.
And
I
personally
feel
that
I
am
so
blessed,
right?
Like
I
didn't
grow
up
with
all
of
this.
I
have
a
very
specific
moment
in
my
childhood
where
I
remember
my
mom
is
at
the
main
grocery
store.
So
my
dad
is
actually
a
butcher
and
he
works
for
like
a
small
family-owned
like
meat
type
market.
But
my
mom
would
go
to
the
regular
grocery
store
to
get
regular
groceries,
like
the,
you
know,
the
non-perishables,
the
soda,
the
juice,
whatever,
that
kind
of
stuff.
And
I
remember
one
time
as
a
kid
standing
in
line
with
her,
and
as
everything
was
getting
wrung
in
and
she
was
watching
the
screen,
she
hit
the
amount
of
money
she
had
in
her
purse.
And
so
we
had
to
put
things
back,
and
we
couldn't
get
the
rest.
And
it's
moments
like
that
that
stay
with
you,
right?
But
now
I
didn't
have
to
go
to
the
food
pantry
and
take
whatever
was
available.
We
were
still
able
to
go
to
the
store
and
buy,
right?
So
again,
I'm
I'm
counting
my
blessing.
I'm
not
focusing
on
the
shortcoming.
And
today
I
c
I
mean,
maybe
when
I
was
like
in
graduate
school
or
college,
I
would
like
focus
on
how
much
I
was
spending
at
the
grocery
store.
Like
I
have
I
have
been
blessed
and
I
have
worked
hard
and
I
feel
very
lucky
to
never
have
had
to
do
that,
but
I
know
it's
a
reality.
And
so
I
feel
not
only
a
sense
of
obligation
to
give
back,
but
I
also
feel
a
strong
desire
to
help
other
people
do
it,
to
f
to
have
them
find
their
joy
in
providing
to
others,
to
filling
that
gap
that's
out
there,
and
to
also
just
recognizing
that
that
they
are
so
blessed
and
that
they
have
more
than
they
need.
But
unfortunately,
like
the
world
we
live
in
today,
this
like
spend
acquire
society,
so
many
people
feel
like
they'll
never
obtain
everything
they
want.
They'll
never
get
to
the
like
ultimate
car
that
they've
always
dreamed
of
owning,
or
they'll
never
get
to
the
biggest
mansion
in
the
nicest
community,
right?
Like
there's
always
something
more
to
get.
SPEAKER_00
27:37
It's
so
interesting
because
I
always
say
by
the
worst
house,
I'm
the
best
block.
Right?
It's
a
different
mindset
when
we're
thinking
about
five
years.
SPEAKER_01
27:46
And
get
a
low
and
get
a
low
interest
rate.
And
make
sure
you
know
what
the
taxes
are
gonna
be.
Because
the
last
thing
you
want
to
do
is
buy
that
home
and
close
on
it,
and
then
discover
that
the
taxes
are
double
what
you
thought
they
would
be,
the
HOA
is
triple
what
you
thought
it
was
going
to
be,
and
now
your
monthly
payment
is
way
larger
than
you
dreamed
it
would
be,
right?
And
that
I
mean,
that
has
recently
been
on
the
news
here
in
Florida.
Yeah.
You
know,
a
builder
was
selling
homes
and
the
the
taxes
weren't
being
calculated
right,
and
the
the
interest
and
the
uh
HOA
fees
and
things
weren't
all
adding
up,
and
so
people
three
months
into
living
in
their
brand
new
home
were
getting
monthly
payment
sticker
shock
because
all
of
a
sudden
the
tax
bill
was
double
what
they
thought.
Wow.
And
so
their
monthly
payment
escalated,
and
people
were
being
forced
to
put
these
homes
on
the
market
and
and
sell
and
move
out.
And
it's
just
knowledge
and
knowing
buying
a
home
is
scary,
especially
when
it's
your
first
time.
So
do
your
research.
Money Skills For Female Athletes
SPEAKER_00
28:43
I
want
to
talk
a
little
bit
about
the
work
that
you
do
for
specialty
groups,
and
by
specialty
groups
I
mean,
for
example,
female
athletes.
Growing
up,
I
remember
reading,
seeing,
hearing
stories,
news
articles,
documentaries
about
predominantly
male
athletes,
people
who
had
made
so
much
money
and
then
walked
away
with
nothing.
And
now
there's
this
market
available
to
female
athletes
who
are
being
recognized
and
elevated.
And
tell
me
a
little
bit
about
what
that
financial
experience
and
literacy
looks
like
for
that
space,
this
emerging
space.
SPEAKER_01
29:26
Sure.
So
I
guess
it
was
almost
probably
two
years
ago,
maybe
a
year
and
a
half
ago,
um,
I
was
approached
by
a
woman
who
was
has
been
very
involved
with
hosting
the
LPGA
tour
players
when
they
come
into
Northeast
Florida
for
a
golf
tournament.
Um
and
she
knew
that
my
husband
was
a
member
of
the
PGA,
and
she
reached
out
to
me
and
asked,
you
know,
if
I
had
any
insight
and
if
I
could,
you
know,
kind
of
take
a
look
at
some
uh
resource
materials
and
things,
because
as
they
host
all
of
these
women
in
Northeast
Florida,
um,
and
what's
what's
really
great
is
uh
when
these
women
come
in
to
play
in
the
golf
tournament
here,
they
um
are
hosted
in
homes
in
the
community.
Uh
this
in
particular
was
Atlantic
Beach
Country
Club,
and
so
homeowners,
typically
women,
will
host
the
players
of
the
golf
tournament.
And
these
young
women,
mostly
you
know,
young
ladies,
will
get
to
stay
in
a
lovely
home
and
have
home-cooked
meals,
um,
but
they'll
also
get
to
go
to
various
events,
etc.
Well,
so
my
darling
friend
um
and
uh
almost
uh
I
like
to
call
her
a
mentor
because
she
is
just
that
to
so
many,
and
a
coach,
uh,
Jenna,
Jenna
Dorns,
she
reached
out
to
me
and
she
said,
We
need
to
do
this.
I've
hosted
these
women
for
years,
and
you
have
shared
so
much
with
me
about
your
husband's
journey
in
the
P
PGA
and
and
what
it's
been
like
for
him
leaving.
Um
so
at
this
point
in
my
life,
my
husband
had
um
taken
two
years
off
and
was
not
really
active
in
the
PGA,
and
he
was
being
a
dad
and
doing
great
things
with
our
son,
and
you
know,
he
was
doing
all
the
drop-offs,
all
the
pickups,
he
was
riding
his
bike,
he
was
doing
all
the
fun
things.
And
he
hadn't
had
this
experience
because,
you
know,
like
many
dads,
he
went
back
to
work
like
four
days
after
our
son
was
born,
and
his
golf
lifestyle
was
working,
you
know,
from
the
time
the
sun
came
up
until
the
time
the
sun
went
down.
But
during
these
two
years,
I
saw
all
of
the
resources
that
the
PGA
was
providing
my
husband,
whether
it
was
job
coaching
or
counseling
or
the
opportunity
to
even
go
do
job
testing,
to
speak
with
health
insurance
advisors,
to
speak
to
financial
advisors,
to
speak
to
like
retirement
planners.
And
I
was
thinking,
like,
they're
offering
you
so
much.
Like,
this
is
wild,
like
this
is
just
all
a
part
of
being
a
member.
And
in
talking
to
Jenna,
I
realized
that
what
the
women
golfers
had
access
to
was
much
less.
And
so
we
came
up
with
this
idea
with
a
group
of
five
or
six
women
that
during
their
time
in
Northeast
Florida,
that
we
could
really
do
them
a
great
service
by
taking
different
experts
from
different
fields,
the
marketing,
communications,
business,
um,
taxes,
and
financial
advising,
and
come
up
with
kind
of
a
resource
book
for
them
of
good
things
to
do,
but
also
things
to
not
do,
and
how
to
avoid
getting
taken
advantage
of,
right?
Because
it's
it
for
an
athlete,
it's
no
different
than
say
someone
who
wins
the
lottery,
right?
Like
immediately
people
are
trying
to
find
out
who
they
are
and
they
want
to
do
business
with
them,
they
want
to
sell
them
something,
they
want
to,
you
know,
get
involved
in
their
business.
And
and
a
lot
of
times
we
see,
you
know,
people
get
rich
quick
and
lose
their
money
fast.
And
it
happens
to
it
happens
to
female
athletes
alike,
right?
They
they
get
a
manager,
they
get
an
accountant,
they
get
a
sponsor,
they
lose
a
sponsor,
then
they're,
you
know,
they're
transitioning
and
all
of
a
sudden
they,
you
know,
have
discovered
that
they
have
spent
more
than
they've
earned.
And
in
a
lot
of
athletes'
time
periods
of
being
successful,
they
can
be
short-lived.
And
so
managing
your
earnings
in
your
you
know
most
successful
years
is
important.
But
it's
also
important
to
make
sure
that
you're
not
getting
taken
advantage
of,
that
you're
not
avoiding
um
taxes
or
going
to
get
yourself
in
trouble
with
owing
too
many
taxes.
Because
the
the
other
issue
is
that
when
you're
an
athlete
and
you
play
golf
or
baseball
or
any
sport,
you're
playing
in
different
states
with
different
laws.
And
I'm
sure
you
heard
about
it
with
the
Super
Bowl
when
they
played
in
California.
You
know,
California
has
their
own
tax
um
on
the
athletes
that
played,
and
so
you
you
pay
more
money
if
you
play
out
of
the
country,
there's
tax
laws
you
have
to
be
aware
of.
And
so
it's
important
to
work
with
trusted
advisors
that
you
know
well
and
you
you
you
know
they
have
good
reputations,
but
also
ones
that
are
knowledgeable
and
will
admit
when
they
don't
know
something
and
pull
in
the
other
expert
that
maybe
knows
the
answer.
SPEAKER_00
34:18
That's
very
helpful
for
people
to
think
about
because
I
know
that
when
you're
working
um
in
a
1099
type
of
position,
if
you
don't
take
into
consideration
how
much
taxes
you
should
save
for,
that
could
hit
you.
And
when
you're
talking
about
a
purse,
I
always
thought,
like,
oh,
look
at
that,
two
million
dollars.
There's
taxes
on
those
two
million
dollars,
and
I
didn't
get
the
distinction
between
state
to
state
or
when
you're
a
global
Donor-Advised Funds And Endowments
SPEAKER_00
34:41
player.
Um
but
can
ordinary
families
create
extraordinary
legacies?
Talk
to
me
a
little
bit
about
things
like
endowments,
donor-advised
funds,
and
institutional
philanthropy
and
creating
impact.
SPEAKER_01
34:52
Yes,
absolutely.
So
I
think
everybody,
it
does
not
matter
what
your
income
level
is,
I
think
everybody
can
make
a
difference
and
everybody
has
their
time
to
do
it.
So
for
some,
they
have
an
abundance
of
money
available
to
them,
whether
they're,
you
know,
30
or
50,
and
they
can
do
things
in
their
lifetime,
right?
So
donor
advice
funds,
they
are
a
great
way
to
take
money,
um,
get
your
get
your
tax
write
off
now,
but
put
that
money
in
a
separate
account
that
is
invested
to
grow.
Or
if
you're
more
conservative,
you
can
certainly
hold
it
in
money
market
or
a
cash
type
account.
But
it's
great
to,
if
if
you
want
to
take
the
tax
incentive
now
and
have
a
donor
advice
fund,
really
what
you're
doing
is
saying,
I'm
gonna
get
the
tax
write-off
today,
but
I'm
gonna
take
this
money,
I'm
gonna
put
it
in
an
account,
invest
it,
and
then
I
will
choose
where
it
goes
slowly
over
time.
And
over
time
it
will
also
grow
as
it's
invested,
so
there'll
be
more
to
give.
And
I
think
donor
advice
funds
are
a
great
way
to
organize
your
philanthropy,
to
track
your
philanthropy,
to
teach
your
children
about
philanthropy.
And
that
could
be
a
donor
advice
fund
that
has
$10,000
in
it
or
$5,000
in
it.
It
doesn't
have
to
be
a
donor
advice
fund
with
$500,000
in
it.
SPEAKER_00
36:04
Right,
you
opened
my
very
first
donor
advice
fund
um
and
it
was
the
same
thing
because
I
was
not
familiar
with
that
concept.
It
started
very
small
because
I
didn't
know
anything
about
that.
You
were
the
one
who
educated
me.
That's
how
you
became
my
development
chair.
You
combined
both
of
my
passions.
It
was
not
just
the
income,
but
what
that
could
translate
to
into
outcome.
But
what
about
institutional
philanthropy
and
endowments?
SPEAKER_01
36:30
Is
that
something
that
normal
people
have
or
so
I
will
say
more
and
more
charities
are
building
endowments,
but
it
takes
time,
right?
The
younger
the
organization,
the
newer
the
the
organization
is,
they're
they're
in
that
like
we
need
the
money
today
and
we
have
to
continue
to
pay
our
operating
budget,
right?
It's
like
money
in,
money
out,
like
a
checking
account.
We're
bringing
the
money
in,
we're
paying
the
bills.
But
the
organizations
need
the
endowments
to
secure
doing
their
work
continually
and
to
also
take
the
pressure
off
of
the
day-to-day
fundraising
every
year,
having
to
meet
that
bottom
line.
What
endowments
can
do
is
they
can
provide
stability
for
the
organization,
and
they
can
also
help
the
organization
grow
and
have
those
emergency
funds
sometimes
needed
if
they
don't
raise
enough
money
that
year.
It's
also
great
when
charities
are
like,
you
know
what,
I
don't
need
to
take
from
the
endowment
this
year
because
we
had
a
good
year,
so
we
can
let
it
continue
to
grow.
You
know,
different
nonprofits
treat
their
endowments
differently.
Some
have
a
4%
spend,
some
have
a
5%
spend,
some
have
a
biannual
spend,
meaning
we
don't
have
to
take
from
it
this
year,
but
we
can
next
year.
Okay.
Um
when
it
comes
to
individuals
and
families
and
people,
endowments
can
benefit
from
their
gifts
in
so
many
ways,
and
there's
a
variety
of
examples.
Um
I
would
say
the
average
American
that's
leaving
a
planned
gift
to
an
endowment
is
leaving
anywhere
from
$30,000
to
$40,000
on
average,
and
you
can
check
these
stats,
like
with
AHP,
but
around
$30,000
to
$40,000
in
their
will,
and
it's
going
to
go
to
a
charity
of
their
choice,
and
it
will
most
likely
go
into
the
endowment
to
secure
their
future.
Um,
and
it's
a
great
way
to
have
a
legacy
and
to
create
impact.
Now,
you
can
also
create
your
own
endowment
upon
your
passing.
You
can
create
an
endowment
in
life.
Uh
in
today's
world,
if
you're
you
know
taking
RMDs,
you
can
actually
use
your
IRA
and
do
a
QCD
to
create
an
endowment,
up
to
$100,000.
And
so
families
can
take
that
money
out
of
the
IRA,
create
an
endowment
for
a
nonprofit,
and
they
can
you
know
use
it
in
a
multi-gen
way
to
have
their
kids
and
grandkids
participate
in
learning
to
give.
Um
what
I
always
like
to
tell
folks
that
are
really
concerned
about
either
giving
money
away
or
raising
money
is
that
less
than
half
the
people
in
this
country
donate
money.
Right?
Let's
let's
just
call
it
50%.
That's
not
an
exact
number.
There's
a
real
number.
It
used
to
be
around
42%.
But
let's
just
pretend
that
it's
half
the
people
in
the
world
give.
If
only
half
the
people
in
the
world
are
giving
to
charity,
to
nonprofits,
to
schools,
we
know
that
they
have
a
greater
need
and
that
there
will
be
more
and
more
need
as
the
years
go
on.
But
if
we
aren't
teaching
our
adult
children
and
our
grandchildren
how
to
give
money
and
why
we
give
money,
and
we're
not
letting
them
participate
in
those
conversations
and
learn
about
that,
the
giving
and
the
givers
will
die
off.
And
we
don't
want
the
givers
to
die
off.
We
want
there
to
be
more
givers.
SPEAKER_00
39:52
I
want
them
to
be
like
us,
having
watched
our
parents
do
it,
which
is
why
my
kids
are
party
and
part
of
everything
that
I
do
and
that
we
do
philanthropically,
whether
it's
through
the
time,
talent,
and
testimony
or
the
treasure.
My
kids,
every
dollar
that
they
get
or
earn,
uh
10
cents
off
the
top,
because
that's
a
tithe,
goes
to
charity,
it's
a
DUCA,
and
then
the
remaining
90
cents,
45
cents
goes
to
save,
and
45
cents
goes
to
budget.
It
used
to
be
a
can
that
said
spend,
but
I
cut
crossed
out
the
spend
and
I
put
budget
so
that
they
had
the
language
there.
I
was
going
to
ask
you
what
surprised
people
about
philanthropy,
but
for
me,
I
was
just
surprised
to
find
out
that
an
endowment
could
be
between
30
and
40,000
is
the
average.
I
thought
it
was
millions.
I
thought
you
had
to
be
uber
wealthy,
not
rich,
but
wealthy
with
a
capital
W.
And
that
only,
and
I
say
this
with
shock
and
a
little
like
disappointment,
50%
of
people
are
actually
giving
back
philanthropically.
Maybe
it's
because
only
50%
of
people
can
afford
to
give
back
philanthropically.
But
like
you,
like
me,
who
grew
up
with
with
people,
or
in
my
case,
paycheck
to
paycheck,
somehow
they
always
manage
to
find
whether
it
was
the
canned
good
or
the
50
cents
to
put
into
a
pushkey.
Pushke
is
like
a
little
box
that
you
put
the
tadaka
in.
So
looking
back
on
your
own
life,
what
financial
lesson
do
you
wish
you
had
learned
earlier?
SPEAKER_02
41:21
Hmm.
SPEAKER_01
41:22
Well,
first
let
me
go
back.
So
to
the
the
to
the
individuals
that
contribute
to
endowments
or
leave
plan
gifts
that
they
want
to
go
to
endowments
to
help
secure
the
future,
I'm
gonna
give
you
a
really
great
example.
So
let's
say
you
donate
$2,000
a
year
to
your
church,
synagogue,
school,
etc.
$2,000
a
year,
let's
say
that's
what
you
give
to
them.
I'm
just
gonna
give
you
a
simple
numbers
example.
So
if
you
never
want
that
$2,000
a
year
gift
to
die
when
you
die,
meaning
when
you
die,
that
gift's
gonna
stop,
right?
If
you
never
want
that
gift
to
die,
all
you
need
to
do
is
in
your
will,
leave
20
times
that
gift.
So
two
times
20,
$40,000,
right?
Because
you
were
given
$2,000
a
year.
So
if
you
leave
$40,000
to
that
charity
and
they
put
it
in
the
endowment,
which
is
so
important,
right?
Put
it
in
the
endowment,
don't
spend
it
all,
right?
Take
that
planned
gift
that
Susie
has
left
you,
put
it
in
the
endowment,
and
now
every
year
that
endowment
should
kick
off
about
5%
of
that
$40,000.
And
5%
of
$40,000
is
the
$2,000
that
Susie
was
always
giving.
And
if
that
is
invested
well,
it
will
slowly
grow
like
the
rate
of
inflation.
And
every
year,
when
that
spendout
from
that
endowment
comes
out,
Susie's
gift
is
not
only
still
there,
but
it
has
never
died,
and
it
is
still
growing.
Wow.
SPEAKER_00
42:54
Right?
So
that's
the
producer
is
nodding
his
head
also
because
we
never
thought
about
the
math
mathing
so
simply.
So
simple.
SPEAKER_01
43:02
I
actually
have
a
workbook,
a
charitable
giving
workbook
that
I
provide
to
our
clients
and
to
nonprofits
I
work
with,
and
it
gives
you
little
examples
like
that.
Like,
you
know,
the
word
endowment
can
be
so
scary
to
people
and
intimidating.
It's
just
like
the
stock
market
or
investing,
or
and
it's
like
it's
really
not.
Take
your
annual
charitable
gift,
multiply
it
by
20,
donate
that
in
your
will
upon
your
death
if
you
can,
make
sure
that
it
goes
to
an
endowment
and
not
to
the
annual
operating
budget.
Right.
And
therefore
you've
now
endowed
your
charitable
giving.
I
mean,
you
can
also
create
unique
funds
with
financial
advisors
and
philanthropic
planners
that
that
fund
is
there
and
it's
in
my
name,
and
every
year
checks
will
come
out
of
it
and
go
to
the
organizations
of
my
choosing.
Wow.
But
some
people
like
to
give
to
the
charity
direct
that
has
an
endowment.
You
know,
like
there's
famous
ones
out
there
that
have
huge
endowments,
and
people
like
to
contribute
right
to
them.
But
you
can
also
do
it
for
yourself
and
work
with
an
advisor
that
can
create
you
an
endowment
or
a
community
foundation.
And
they
can
create
that
endowment
and
then
push
that
money
out
annually
after
you're
no
longer
able
to
write
the
checks.
Interest Rates And Student Debt Reality
SPEAKER_01
44:06
Okay,
so
back
to
your
last
question.
What
financial
lesson
do
you
wish
you
had
learned
earlier?
I
wish
that
I
had
learned
about
interest.
And
I
think
to
to
this
day,
we
are
not
teaching
young
people
about
interest.
Um
a
couple
weeks
ago
I
read
uh
in
the
Wall
Street
Journal
that
the
average
college
student
is
carrying
around
$5,000
worth
of
debt
or
three
to
five
thousand
dollars
worth
of
debt,
and
they
are
just
making
minimum
payments
because
they're
still
in
college
and
they're
using
that
credit
card,
but
they're
just
paying
the
monthly
payment
every
month.
So
I
think
that
we
are
still
failing
young
people
in
not
teaching
them
about
interest,
interest
rates,
because
it
affects
them
using
credit
cards,
buying
their
first
house,
what's
the
interest
rate
on
the
mortgage,
um,
interest
on
savings
accounts.
Like
everyone
thinks,
like,
I'm
gonna
put
it
in
a
savings
account.
Well,
has
anyone
ever
watched
a
traditional
savings
account
just
like
give
you
pennies?
Like
a
couple
pennies,
right?
Find
a
high
yield
savings
account
where
that
same
money
can
actually
earn
you
a
couple
hundred
dollars
every
two
or
three
months,
right?
So
that
you
can
slowly
start
to
be
growing
in
that
savings
account
and
not
just
watching,
you
know,
25
cents
accumulate
in
12
months.
Um
interest
varies
with
everything
we
do.
And
I
I
see
news
articles
and
advertisements
come
out
that
some
of
these
young
people
in
college
today
with
these
small
credit
cards,
you
know,
three
to
five
thousand
on
average
in
America
today
is
a
small
credit
card
bill,
I
guess.
But
if
they're
new
to
credit
cards,
their
interest
rate
could
be
upwards
of
like
34.99%.
And
if
they're
also
taking
student
loans,
I
mean
this
is
going
to
put
them
in
a
very,
very
bad
financial
position
at
the
end
of
it.
And
I
wish
that
prior
to
college
that
I
had
learned
more
about
interest
rates
and
accumulation.
And
the
other
thing
is,
you
know,
over
the
last
decade
we
saw
a
lot
of
people
deferring
their
student
loans
with
interest
accruing,
and
they
didn't
understand
that
I
can
push
pause.
They
thought
they
could
push
paws
on
the
student
loans
and
it
was
frozen.
And
it
was
frozen,
but
in
reality,
them
making
payments
was
frozen
for
a
period
of
time.
But
they
interest
was
still
accruing
on
most
of
those
loans.
And
so,
I
mean,
I
I
recently
wrote
a
blog
article
at
my
firm
about
student
loan
debt.
And
uh
I
in
one
week
I'd
had
three
different
clients
or
people
I
was
meeting
with
ask
me,
Did
you
have
student
loans?
Like
how
did
you
get
out
of
your
student
loan
debt?
And
whether
they
were
asking
for
themselves
or
their
adult
children
that
they
were
concerned
about
because
they're
they're
now
parents
themselves,
but
they're
still
paying
off
student
loan
debt,
they
were
really
concerned
that
this
is
this
is
a
like
a
mountain
that
people
cannot
get
over.
SPEAKER_00
46:53
Like
a
never-ending
cycle
of
generational
trauma.
Right,
because
by
the
time
you
see
a
parent
paying
your
student
loan
debt
while
your
child
is
now
going
to
college
and
you've
got
two
coupon
books
for
lack
of
a
better.
Yeah.
SPEAKER_01
47:04
I
mean,
I
I'm
hoping
they
got
rid
of
those
coupon
books
because
they
were
not
fun
to
have
lying
around
and
you
never
wanted
to
lose
it.
SPEAKER_00
47:08
I
remember
seeing
someone
that
I
went
to
college
with
that
had
a
coupon
book
because
she
was
in
graduate
school
and
she
was
doing
her
undergrad
payments,
and
I
was
like
so
blessed
that
my
parents
paid
for
I
went
to
a
state
school,
and
so
it
cost,
you
know,
pennies
on
the
dollar
back
then
in
the
1900s.
Um,
but
I
want
to
go
into
a
quick
lightning
round
if
that's
okay.
Sure.
So
you're
gonna
say
the
first
thing
that
comes
to
mind
saving
or
investing?
Invest.
Coffee
budget
or
travel
budget?
Travel
budget.
The
first
thing
you
ever
saved
up
for.
A
car.
Money
words
people
use
too
much.
One
app
everyone
should
have.
Well,
I
have
to
say
that
I
appreciate
you
being
here
and
being
so
authentic
and
honest
about
the
information
that
you
share.
Today's
conversation
reminded
me
that
money
isn't
just
about
numbers,
it's
about
stories.
It's
about
what
we
were
taught
and
what
we
weren't.
Some
people
grew
up
hearing
conversations
about
investing
in
retirement
accounts
at
the
dinner
table.
My
husband
taught
my
kids
about
compound
interest
starting
at
three.
Some
of
us
grew
up
hearing
work
hard,
be
generous,
and
everything
will
work
itself
out.
And
generosity
matters
deeply,
but
generosity
and
stewardship
are
not
the
same
thing.
Stewardship
asks
us
to
think
beyond
today
and
beyond
our
own
needs,
beyond
our
own
lifetime.
Because
wealth
is
not
only
what
sits
in
a
bank
account,
it's
opportunity,
it's
security,
it's
choice.
It's
the
ability
to
say
yes
to
things
that
matter
and
no
to
things
that
don't.
And
maybe
none
of
us
are
actually
late
to
this
financial
conversation.
Maybe
we're
simply
arriving
exactly
when
we're
ready
to
understand
that
building
wealth
is
not
selfish,
it's
another
way
of
building
impact.
Thank
you
so
much
for
being
here,
Kelly.
Thank
you
for
having
me,
Suze.
Honorable Mention And Closing
SPEAKER_00
49:27
And
now
it's
time
for
our
honorable
mention.
Mensch
is
the
Yiddish
word
for
someone
who
shows
up
with
integrity,
responsibility,
and
heart.
Today's
honorable
mention
goes
to
Alan
Margolis,
retired
executive
director
of
the
artist
formerly
known
as
Jacksonville
Jewish
Federation,
now
known
as
Jewish
Federation
and
Foundation
for
Northeast
Florida,
JFFNEF.
For
decades
of
leadership,
commitment,
and
the
kind
of
steady
community
stewardship
that
often
happens
behind
the
scenes
but
leaves
fingerprints
everywhere.
Sometimes
leadership
isn't
about
standing
at
the
microphone.
Sometimes
it's
about
creating
the
conditions
that
allow
everyone
else
to
succeed.
Under
Allen's
leadership,
Federation
wasn't
simply
a
fundraising
organization.
It
became
a
connector,
a
convener,
a
place
where
relationships,
ideas,
and
people
could
come
together
and
create
something
larger
than
themselves.
Whether
it
was
the
Women's
Philanthropy
Champagne
Brunch
where
generosity
met
purpose
and
women
were
empowered
not
simply
to
give
but
to
lead,
the
annual
campaigns
and
community-wide
events
that
reminded
us
that
philanthropy
was
not
just
about
writing
checks,
it
was
about
writing
ourselves
into
the
story
of
our
collective
future.
There
were
leadership
experiences,
teen
initiatives,
educational
opportunities,
missions,
cultural
exchanges,
and
meaningful
programs
connecting
Jiaxinville
families
with
our
partner
communities
in
Israel.
Programs
that
allowed
young
people
and
families
here
to
build
relationships
with
people
there,
understanding
that
Jewish
identity
stretches
across
oceans
but
still
feels
personal.
And
perhaps
one
of
the
most
important
pieces
of
all,
Federation
dollars
did
not
stop
at
Federation.
Those
investments
empowered
partner
agencies
to
do
their
best
work.
Organizations
serving
our
children,
seniors,
families
in
crisis,
Holocaust
education,
mental
health
services,
community
relations,
Jewish
education,
cultural
programming,
and
social
service
needs
were
strengthened
because
resources
were
shared
across
an
entire
ecosystem.
When
one
agency
succeeded,
all
of
us
benefited.
Healthy
communities
are
not
built
by
competition.
They're
built
through
collaboration.
And
while
many
people
saw
Alan
leading
from
the
front,
what
may
have
mattered
most
was
how
many
people,
organizations,
and
programs
he
helped
strengthen
from
behind
the
scenes.
That
kind
of
impact
doesn't
always
make
headlines,
but
it
changes
communities,
and
that's
what
a
mensch
does.
Thank
you
for
joining
me
for
another
episode
of
Schmooz
with
Suze.
If
this
conversation
made
you
think,
feel,
or
see
something
a
little
differently,
share
it.
Because
this
conversation
and
all
of
them
matter.
Follow
along
on
Instagram,
Facebook,
and
YouTube
for
your
daily
dose
of
chutzbah.
I'm
Suze,
your
well
informed
smart
ass,
reminding
you
what's
an
envelope
if
not
for
pushing.
Stay
inspired
and
inspiring.
