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

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.




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