Rich AF: The Winning Money Mindset That Will Change Your Life - Softcover

Tu, Vivian

Softcover

ISBN 10: 0593717171 ISBN 13: 9780593717172

Verlag: Penguin Publishing Group, 2023

Inhaltsangabe

NEW YORK TIMES BESTSELLER

From TikTok star and Your (favorite) Rich BFF Vivian Tu, the definitive book on personal finance for a new generation

When Vivian Tu started working on Wall Street fresh from undergrad, all she knew was that she was making more money than she had ever seen in her life. But it wasn’t until she found a mentor of her own on the trading floor that she began to understand what wealthy people knew intuitively—the secrets to beating the proverbial financial game that has, for too long, been male, pale, and stale.

Building on the lessons she learned on Wall Street about money and the markets, Vivian now offers her best personal finance tips and tricks to readers of all ages and demographics, so that anyone can get rich, whether you grew up knowing the rules to the game or not. Vivian will be your mentor, dispensing fresh, no-BS advice on how to think like a rich person and create smart money habits. Throughout the pages of Rich AF, Vivian will break down her best recommendations to help you:

• Maximize your earnings to get more out of your 9-to-5
• Understand the differences between savings accounts, and where you should keep your money
• Identify the tax strategies and (legal) loopholes you need to retire in style
• Overcome investing fears to secure wealth for generations

And much more!

Rich AF will equip readers with the tools and knowledge to not only understand the financial landscape, but to build a financial strategy of their own. And with Your Rich BFF at your side, you’ll be able to start your financial journey already in an affluent mindset, making the most of your money and growing your wealth for years to come.

Über diesen Titel

Über die Autorin bzw. den Autor

Vivian Tu began her career as a J.P. Morgan Equities Trader, where she traded Industrials, Materials, and Energy stocks, as well as Event Driven Special Situations via the Risk Arbitrage team. She then pivoted to become a BuzzFeed Strategy Sales Partner, helping brands execute multi-channel marketing campaigns. She made her first $1M by 27 and is the CEO & Founder of Your Rich BFF Media LLC. She lives in the heart of New York City and is likely chowing down on Scarr’s pizza in the Lower East Side or running (read: briskly walking) down the West Side Highway.

Von der hinteren Coverseite

From TikTok star and Your (favorite) Rich BFF Vivian Tu, the definitive book on personal finance for a new generation

While the rest of us are scrimping and saving every dollar, clipping coupons and reusing Ziploc bags, the rich are…getting richer. The secrets to financial success were traded among friends over cocktails and passed down from father to son. For too long, beating the proverbial financial game has been only for the male, pale, and stale―so how can you get rich in a world where you don’t even know the rules?

When Vivian Tu started working on Wall Street, all she knew was that she was making more money than she had ever seen in her life. But it wasn’t until she found a mentor of her own that she began to understand what wealthy people knew intuitively. Now, building on the massive appeal of her TikTok videos on personal finance, Vivian will be your mentor, dispensing fresh, no-BS advice on how to think like a rich person and create smart money habits. Vivian will help you:
Identify the tax strategies and (legal) loopholes you need to retire in style
Overcome investing fears to secure wealth for generations to come
Understand the differences between savings accounts, and where you should keep your money
Maximize your earnings to get more out of your 9 to 5
And more!

Rich AF will equip readers with the tools and knowledge to not only understand the financial landscape, but to earn, save, and invest more, with Vivian’s expert advice and fresh take on what wealthy people already know. And with your rich BFF at your side, you’ll be able to start your financial journey already in the rich-person mindset, growing your wealth for years to come.

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1

Education for This Era

Why This Book Is For You

while back, I was spending a long weekend in the Hamptons with some friends-a cute little couples getaway, one of those day-drinking, sunbathing, very chill kind of mini vacations. One afternoon, before heading to the beach, we swung by the local CVS to pick up some snacks, and on the way out my girlfriend stopped dead in her tracks.

"Oh my God," she said. "I have to have that."

It was a Monopoly game. Not just any Monopoly game, but a Hamptons-themed Monopoly game.

Not gonna lie, I definitely rolled my eyes as I took our M&M's and gummy bears to the self-checkout. But Lauren was so excited, and inevitably her enthusiasm rubbed off on me. If my bestie was so excited about this novelty tourist trap of a board game, then who was I to rain on her parade?

By the time we got back to the car, Lauren had sold me on game night and we were fully stoked. We were ready to play this game. We slid back into our seats, handing out the goods, and when Adam, Lauren's boyfriend, asked what we were so amped about, I told him, "Oh, Lauren just bought this cheesy Hamptons Monopoly game for us to play tonight."

No response. It was like the summer air had gone chilly all of a sudden. And then, from the front seat, Adam turned around. Not smiling. Super intense.

And he said, "You guys do not want to play Monopoly with me."

Naturally, we were like, "Uh . . . why not?"

Another pause.

"Because," he said. "There's a secret. Most people have never actually read the full instruction brochure for Monopoly. But I have. And when I play the way I know how to play, there's no way I lose."

"So what's the big secret?!" I asked.

But he just shook his head. Wouldn't tell us. Lauren and I brushed off the conversation and headed out to the beach.

Later that night, we broke out Hamptons Monopoly. It was corny, with little lighthouses and windmills all over, but the wine was flowing and we were fully invested. After we each picked our little pieces and divvied up our fake money, we rolled the dice.

Adam proceeded to dominate.

Personally, I think I'm okay at Monopoly, like above average to actually decent, but I never stood a chance. This was a bloodbath. Tensions ran really high, really fast. Voices were raised, words were exchanged, arguments broke out over the exorbitant rent for the hotel on Shelter Island (the Hamptons version of Boardwalk).

Now, if you've ever played Monopoly with a competitive friend group, none of this comes as a surprise. It is probably the quickest and most devastating way to push friendships (and any relationship, really) to the brink. But this particular session was different, and not just because we were playing Hamptons Monopoly instead of the regular version.

It was because of Adam's secret strategy.

The secret was basically a weird loophole in the rules that allows you to use money you don't have to buy property. It turns out that if you do read the rule book the whole way through, and understand how the lending system works, the rules actually allow you to get leverage with the Monopoly bank (pretty much the same way you get rich in real life, TBH), which makes piling up those pink and orange bills go so much faster.

Lauren and I did not know that, of course. We'd laughed about this "big secret" earlier, but now that we'd been absolutely beaten down, we were mad about it.

"That's not fair," we said. "You didn't tell us that we could do that!"

Adam shrugged. "You guys had the same rule book as I did. You just chose not to read it."

Aside from guilt over almost starting World War III on our fun little couples trip (pour one out for our other friends who were innocent bystanders in this mess over tiny fake money), what I take away from this story is that the way Adam was able to win (and the rest of us . . . didn't) is basically the same way our financial system works in real life.

In theory, we all have access to the same information about money. We all have some version of the rule book. Everyone has a smartphone. Or a laptop. Or a library. It isn't Downton Abbey times anymore, when nothing was publicly accessible and only people rich enough to afford daily telegram delivery knew what was up. You can pull up any number of books, articles, websites, Wikis, whatever, right at your fingertips, all for the low, low cost of zero dollars, and learn everything there is to know about getting rich for real.

In theory, anyway.

Because no one really does that, right?

No one reads the rule book all the way through. Not when playing Monopoly, and not when managing our actual, authentic, cold, hard US dollars.

I'm willing to bet you probably learned to play Monopoly the same way I learned to play Monopoly: you sat down for your first game with someone else who had already played, and they talked you through it. It's quicker, it's less boring than squinting at all that tiny type, and it just gets you in the game faster and makes it more fun.

But then there are some people like Adam. He'd read the rule book all the way through. He found the loopholes and technicalities that could make him a winner without cheating and without a ton of effort.

Was there anything stopping me and Lauren from reading the entire little pamphlet front to back too?

Nope.

But did we?

Also nope.

We all had the same information available to us. But only one person really dug in and learned how to take advantage of it.

The reality is, just because we can all read up on the rules, that doesn't mean that we all have the same access to a good strategy. Some people go through life leveraging the bank, and some of us play Monopoly the traditional way that we learned from our dad or our aunt or our big brother or our babysitter.

In other words, just having access to the rules alone is not enough. If you'd never played Monopoly before, you'd probably be confused just opening up the box: There's a thimble and a Scottie dog in here? Why are all these streets named after states? What is this game even about? You'd have to spend at least fifteen minutes reading the pamphlet, and you'd probably forget half of what you read once you start playing and have to go back and check all the time. The game would generally be slow, annoying, and not that fun, let alone easy to win.

Whereas if you play with someone who's played before, who has a strategy, they can teach you not only the rules, but which rules matter-and how to use them to your advantage. They can walk you through buying the deeds and how you have to build four houses before you can build a hotel, but also advise you on which color properties to snap up first, when to offer other players a trade, and whether or not it's actually worth buying utilities and railroads.

Finance theory is most useful when it's actually articulated as actionable advice. Instead of reading about things that could happen to you at some point, you're getting step-by-step info and instructions for what to do right now, given your circumstances. You have insights into which information is crucial and which you can kind of disregard.

That's the difference between knowing the rules and having a strategy.

And financial strategy is what we actually need to be teaching.

Because guess who learns financial strategy early on? Rich people.

And the rest of us? Well . . .

We Don't Learn About
This Stuff in School

When was the last time you busted out the Pythagorean theorem?

Or wrote a five-paragraph essay?

Or played dodgeball?

It's probably been a loooong time.

And you're probably not going to do any of those things more than a handful of times for the rest of your life.

But when was the last...

Details zur Ausgabe

• Verlag: Penguin Publishing Group
• Erscheinungsdatum: 2023
• Sprache: Englisch
• ISBN 10: 0593717171
• ISBN 13: 9780593717172
• Einband: Taschenbuch
• Anzahl der Seiten: 336
• Kontakt zum Hersteller: Portfolio; https://www.wetones.co.uk/; ; 105 Golborne Rd; London; W10 5NL; Vereinigtes Königreich
• Verantwortliche Person: M.E.G Cards & Gifts; 443000000000; paula@megcards.com; ; 48 Cloyfin Road; Unit 4, 48 Cloyfin Road; Coleraine; Londonderry; BT52 2NY; Irland