S3E47 – Patti Handy – Money Mindset for Women

Key Timecodes

• (01:06) – Show intro and background history
• (02:46) – Deeper into her background history and career transition
• (07:12) – Understanding her business model today
• (08:23) – Her philosophy of “money mindset”
• (10:57) – Deep diving into her courses and mentoring model
• (17:14) – How she helps women with financial education
• (20:46) – What types of investments does she usually guide her clients to learn more about?
• (22:47) – Deep diving into her investment philosophy
• (26:20) – How much she charges for her courses and coaching services
• (27:31) – A key takeaway from the guest
• What was the worst piece of advice he ever got?
• (31:06) – What is the best advice he ever received
• (35:34) – Guest contacts

Transcription

[00:00:00.000] – Intro

Hey, this is Sean Tepper, the host of Payback Time, an approachable and transparent podcast on financial independence. I’d like to bring on guests to hear authentic stories while giving you actionable takeaways you can use today. Let’s go. The fear of regret is greater than the fear of not moving forward. A variation of this quote is later discussed in this episode where my next guest talks about her backstory, transitioning from a cushy financial planning career to starting her own financial/life coaching business. Overall, she wasn’t going to sit on the sidelines talking about doing something. She needed to act, and there is no better time than now. Today, she primarily serves women in some of the most frequently asked questions include, Do I have enough money saved based on my age? How do I do out the loss of a spouse? How do I invest on my own? And how do I pay off debt? In this episode, we answer some of those questions and talk about where she helps her customers most. Please welcome, Patti Handy.

[00:01:06.260] – Sean

Patti, welcome to the show.

[00:01:07.720] – Patti

Thank you, Sean. Great to be here.

[00:01:09.290] – Sean

Good to have you here. Why don’t you kick us off and tell us about your background?

[00:01:13.060] – Patti

Okay, well, let me actually split it up. Pre-divorce, I was in banking, corporate banking, had a child and then went through a divorce. Post-divorce, I wanted to be at home with my son and was trying to look at ways to work at home and take my finance background and put it to use. I ended up getting into the mortgage industry and was a mortgage advisor for many, many years, which worked out beautifully, working at home and being able to raise my baby and be a full-time mom. Then I ended up going into financial planning. I wanted a deeper connection with my clients. The mortgage world was a little bit transactional, and I wanted to have a deeper connection with my clients. I got into financial planning, really enjoyed that. But along the way, I had many, many conversations with ladies, specifically those that were going through divorce or widow, just going through life on their own and were very overwhelmed and fearful and didn’t know what to do and their husbands took care of the money. The same theme just recurred in conversation. I decided to pivot. I left my comfortable position as a financial advisor and all the benefits that went with it.

[00:02:16.260] – Patti

I went out on my own and became a financial coach, which is a financial educator as well as a life coach. It’s the commingling of those two things. I focus on women and I just absolutely love it. I feel like it’s truly in alignment with my purpose and what I was meant to do. I’m utilizing my experience being a single woman and having gone through a divorce and what that looks like, which is certainly probably my greatest lessons as just life, doing life.

[00:02:46.310] – Sean

Right on. I think all of us as well. Thank you for the context on your background. I want to drill into a really key moment or transition, which is from your full-time career with a cushy job, because a lot of people listening are in that position. They’re working maybe a full-time job, maybe a corporate job, they have salary benefits, yet they want to start a business. Making that leap, that’s difficult. Walk us through. Did you start to coach people on the side or maybe build up maybe a list of people that you know would probably become customers? How did this process work?

[00:03:23.610] – Patti

Well, in the financial industry, compliance is super, super strict. I was very limited. I couldn’t do anything regarding my business while I was still employed with my company. They felt it was a conflict of interest. That was an issue. In reality, I complement a financial advisor. A lot of financial advisors, the majority of them don’t do what I do in terms of the education piece. I cover more than just investing. I talk about money, mindset and self-care and a multitude of things. But I had laid the groundwork in my head and created this program in my head with regards to what I wanted to do with this digital course that I created and the concept and the platform and just all that was percolating in my brain. I gave notice to my boss in January of 2023, and we decided he wanted me to stay on for a few more months to transition clients and then say my goodbyes and everything. He offered the ability for me to work three days a week and then two days a week I could work on my business, which was nice. I, with full disclosure, was able to do some of that work while I was working part-time, which definitely helped.

[00:04:32.770] – Patti

I’m going to suggest anybody who is considering leaving the corporate job, do everything you possibly can while you’re still employed to get that business launching and get some revenue and just get that momentum so that you aren’t jumping off a cliff and going from a nice salary to zero because that’s a very scary leap. As it was, it was a leap of faith for me. You just don’t want to be in that situation where you’re looking back and going, Holy crap, what did I do? Yeah, right.

[00:05:03.600] – Sean

Okay, here’s a scary moment. I like that. That’s great advice. We’re big on bootstrapping here. We talk a lot about that. Try to build a business while you have your full-time job. Try to get some revenue moving. You want to see consistent increase month over month. Then you can tell yourself, Well, based on the trajectory, I can take a pay cut, but I’m going to take that leap of faith and I can get things moving if I really go all in. Now, in your case, you recently, based on giving your notice in January, you just went full-time, it sounds like.

[00:05:39.930] – Patti

Yeah, my last day at the firm was April 20th, and we’re recording this in middle of July. It’s literally like three months. I was not able to generate income on the side from my business while I was still employed. I did take that jump-off-the-glyph, but I was prepared for it. I’ve got a cushion in the bank and I knew I was going to be going through it, and I’m just continually working it and launching and feel very good about what I’ve done still. There are still days where I’m like, Oh, dear, this is a little bit scary. But I am just completely confident, absolutely no regrets, and just feel like I’m on my path. The other thing is, and this is going to be great for your audience, I came to a point where the fear of regret of not doing this was greater for me than the fear of doing it and it not working out. I thought, I’m not going to be 85, 90 years old and look back and go, Oh, if only I had done that, if I followed my passion, if I made a bigger difference, if I was making a bigger impact, what if I had done that?

[00:06:44.890] – Patti

How cool would that have been? I didn’t want any regrets. And that was again greater for me than doing this. And then a year goes by and it’s just not taking off and I’m not going to even go there because it will.

[00:06:58.490] – Sean

Absolutely. You’re all in on it. I love that. That’s quoteable. The fear of regret was greater than the fear of not doing it. I just wrote it down. That’ll probably be in our intro or something I’ll use in the marketing. But I love that. Now let’s dive right into your business. Tell us about what are some of the specific services you provide to your customers.

[00:07:21.710] – Patti

Sure. There’s a couple of ways that ladies can work with me. Again, I focus primarily with women. Even a little bit deeper, I work with those that are just doing life alone. Whether you’re single by choice, divorced, widowed. I am again, the educator. I have a program called Minding Her Money. It’s a very comprehensive course. At the end of the day, I say that I transform finances and lives for these women, or I help them transform their finances and their lives. It’s through the education. We talk about everything from, again, self-care to the money mindset, which is a huge component. Just getting organized, dealing with your credit, getting that back on track, buying a home on your own, of course, we’re almost investing and how to do that on your own. We analyze the market, we go in deep into some tax strategies, and then we look at our retirement and leaving that legacy that we want. It’s very comprehensive, so there’s an opportunity to take the course by itself. I do offer one-on-one private coaching as well, and then we do a group coaching component. There’s a couple of different ways that individuals can work with me and have access to the program.

[00:08:23.980] – Sean

You talked about money mindset. Can you dive a little further into that? What does that mean?

[00:08:29.470] – Patti

Yeah, that’s a huge piece. It’s easy for me to teach the mechanics of money. I can teach you about the market and the mutual funds and what that means and then IRA versus the Roth and some of those… You hear this lingo out there in the world. But what advisors don’t speak about, and it’s traditionally not spoken in schools, is our money story. Our money story basically is our subconscious mind that dictates 95 % of our external reality. From birth to age eight, we were a sponge. Our brain was open and taking everything in. We did not have a filter to say, Hey, mom, that doesn’t make any sense, or, Dad, that doesn’t make any sense, or whoever. If you heard your mom, your dad, your caretakers, your teachers, your grandparents, whatever, if you’re absorbing everything they’re saying and what they’re saying comes from a fear-based mentality or scarcity mindset, you’re going to have this program, this tape recorder in your mind that is that scarcity and fear-based mindset, which creates this set point for us. It’s like a thermostat. We generally are staying in that familiar, comfortable set point subconsciously. That’s why you see a lot of lot of winners who come into millions all of a sudden.

[00:09:41.580] – Patti

They are at the same place where they were pre-sat a win in a short period of time because they are outside that comfort zone and they subconsciously blow it somehow. I could talk for three hours on this subject. It’s so fascinating. But the point is getting to the root of those stories, understanding the false, limiting beliefs that we have, which then create our thoughts, which then create our actions, which create our results. If you aren’t happy with your life, it’s highly likely it’s a result of your limiting beliefs that’s playing in your subconscious mind.

[00:10:16.920] – Sean

I love this topic because I’ve had a few people on Not Too Many that do talk about the same thing as putting yourself into a mindset where there’s more abundance than scarcity. People, especially the way they’re raised, it’s that fear. We talk about it with Tykr a little bit is we do say it’s important to work for money by providing a value, whether it’s a service or selling a product. But you do want to flip that equation to make money work for you. Unfortunately, we’re not taught that. We’re not taught that in school. You can go to university until you’re blue in the face, but they don’t teach you how to make money work for you.

[00:10:55.550] – Patti

Yeah, absolutely.

[00:10:57.650] – Sean

Let’s talk about your course a little bit here because it sounds like people have two different ways they can work with you. They can either hire you as a coach or they can take your course. Do you have courses or is just.

[00:11:11.220] – Patti

The one course? It’s just the one course. It’s minding her money. That’s the name of the course. They can take the course on its own and you have lifetime access. As long as the course is available, it’s yours to access. It’s a bunch of videos on various subjects. Then if you want to join us in a group coaching area, we have group coaching calls once a week for 90 days that they can invest in that package, if you will. Then they have the option of, like you said, one on one with me with the coaching package as well. There’s a couple of different ways I’ve tried to make it so that anybody in certain positions in their life they can take advantage of the opportunity.

[00:11:49.530] – Sean

We like to dive into details here a little bit. With that in mind, can you tell us how many modules would a customer be given access to when they join your course?

[00:11:59.800] – Patti

Sure. It’s nine modules. Each module has about those three videos per module. You’ve got about 27 videos right now. I am adding a couple of new ones as a bonus. Then the group coaching calls will be recorded and then put into the portal for those that purchase the group coaching component. That’s really just Q and A. That’s really the opportunity for those who’ve gone through the course, who have some questions, for me to answer those questions if they want to be in the hot seat and get coached live if they have that option, or they can just sit in the back and have the cameras off if they want to do that as well. But it’s 27 videos and they’re not huge, hour-long videos. I know it’s hard to make that time. The shortest video, I think, is eight minutes and the longest is like 30 minutes. They’re super easily digestible and you can do them in between things easy enough. But they’re very fact-field.

[00:12:55.380] – Sean

Yeah, same thing. We’ve got a course. Our first one is just a shameless plug here, stock investing for beginners. But yeah, I even prefaced upfront like these are really short to the point, somewhere like three minutes on up to 10. So it’s like don’t waste people’s time, just get right to the point.

[00:13:11.300] – Patti

Yeah, exactly. We’re busy people these days. We don’t have time to watch two-hour long videos.

[00:13:17.160] – Sean

Exactly, yeah. Give us some of the names of the module. This will allow people to connect the dots, maybe hit on hot points they might be struggling with in their life.

[00:13:27.530] – Patti

Sure. The first module is called Renewed, and that’s all about self-care. I go deep into what that looks like for ladies, especially as we navigate raising kids. Sometimes we’re taking care of our parents, older parents, dealing with the home, dealing with outside work. We’ve got a lot of plates in the air. It’s self-care. The second module is about the money story that we spoke of, understand the limiting beliefs, how to debunk those beliefs and reprogram your mind. Because the good news is you can reprogram your mind. If you are in that scarcity mindset, you can reprogram that. Organized life, we go through getting your papers organized, what that looks like and setting up a system. Amplified income is Module 4, and that is a combination of debt consolidation. We talk about budgets and spending trackers, emotional spending, getting out of debt. We talk about the credit card issues and then side hustles, how we can create additional income to pay down those debts or just add to savings. Then number five is optimal credit, and that is the one that deals with our credit. Credit score is huge. Part of our life is our report card to the world and has a great impact on our interest rates that we get out in the world.

[00:14:35.640] – Patti

The higher your score, the less your interest rate. The higher your score, the more money you save. That’s a very impactful module. Then homeownership is number six, and that is basically what lenders look for when you go to qualify for a loan. If you’re doing it on your own, you’ve got one income versus two. What that looks like for you, how they look at alimony, if they look at child support and all those things, we look at just buying a home on your own. Then seven and eight, seven is called Badass Investing, and that’s the high-level simplified version, the definitions of some products without the fancy lingo and jargon that you hear out there. I keep it really super simple. Then financial freedom is number eight, and that is the one that we go into a little bit more tax strategies. We talk about Roth conversions and tax loss harvesting and why you do that and why you wouldn’t do that and what that is. I explain it again very simply. Then the ninth module is about the ultimate retirement and legacy. That is really having a purposeful retirement, planning for that purposeful retirement. If you don’t, the statistics show that our secondary life, if we don’t have something to do to get up in the morning, we become isolated, we become depressed, we become anxious.

[00:15:47.250] – Patti

There’s a lot of individuals who retire and then after a while they’re like, Okay, I’m miserable. I needed to go do something. They go back to work part-time or they volunteer or whatever. We talk about that and we go through some exercises there. That high level with the entire Minding Her Money program and what that offers.

[00:16:04.790] – Sean

Love it that way. Listeners here, they know exactly. There’s a few. I’ve talked to a lot of our customers and I know some of these things might check a box of something they’re looking for. Thanks for giving us the overview. Of course, we didn’t give any recipes away here, but if they want to learn more, they can certainly check out your site. Let’s take a quick commercial break. If someone tells you to buy a stock, the last thing you should do is buy that stock. The first thing you should do is ask why. Unfortunately, a lot of influencers on YouTube, TikTok, Twitter, Reddit, and really the list goes on, are giving really bad stock recommendations and investment advice. The question is, how do you determine if what these people say is good advice or bad advice? That’s where Tykr can help. Tykr can quickly and easily determine if a stock is a good or bad investment, and it helps you manage your investments with confidence. But don’t take our word for it. Check out our trust pilot reviews to see what people are really saying. Go ahead and get started with a free trial. Visit Tykr.

[00:17:07.160] – Sean

Com. That’s T-Y-K-R. Com. Again, Tykr. Com. All right, back to the show. Could you maybe walk us through the top one, two or three questions that you’re usually asked by women in your typical response?

[00:17:25.090] – Patti

Yeah. The common theme that I hear and the questions that come are, am I ready for retirement? How do I know if I’m ready? How do I know if I have enough money? Am I going to run out of money? I don’t want to be a burden on my kids. How do I make sure that doesn’t happen? There’s that fear that creates the sleepless nights. We just don’t know what that looks like. There are those who are dealing with the sudden loss of a spouse and dealing with the grief and then doing it all alone. They’ve never done that alone. They don’t know even where to start with investing. They don’t understand investing. The husbands always did it and they didn’t have those conversations while they were married. They’re starting from the get-go. It’s the, where do I even start with money and investing? How does that go? Then there are those that are dealing with debt and how do I get out of this debt? What’s the best way to do this? Do I save first? Do I pay down debt first? What does that look like? Those are the main questions that I get.

[00:18:21.390] – Patti

Again, there’s a lot of fear and embarrassment around that, which I just want to really debunk. There’s a lot of self-judgment, which I, again, try to take away because we weren’t taught this in school and we weren’t taught this at home typically. If you weren’t taught it, how would you know it? Women tend to wear our feelings on our sleeve and we just are honest and say, Hey, I’m just vulnerable here. I don’t know what I’m doing and I need some help and I’m embarrassed. I don’t want to ask questions. There’s some of that. Then there’s some that are just super savvy and they just want some of the nuts and bolts of tax strategies and they want to go out and they understand what mutual funds are, but they’re still not really sure they’re ready to retire. It’s a gambit. I want to say one thing too, Sean, just a PS to the prior conversation. There’s the nine modules, and I’ve run into some ladies who think, Well, I don’t need the credit. I’ve got really good credit or I own a home. I’m good there. But this material is so amazing for you to teach your kids.

[00:19:24.040] – Patti

If you have your kids watch these modules, which again, aren’t taught in schools, the teens can become so empowered and they come out of college knowing this information, it’s going to be a game-changer for them.

[00:19:36.330] – Sean

Right on. Yeah, I agree. Sometimes we’ll get people the same thing, be like, Yeah, that module I probably know, but this one might provide value. Do I have to watch them? I was like, No, you can skip ahead. You can go in any order you want, but please, your family, share this with your family just for the good news. Let’s dive into the investing question a little bit, because here at Tykr, we’re big on investing. In and as I mentioned offline, we have a lot of women joining Tykr, which is great to see. We’re trying to improve our brand and make it not so male-focused, which seems to be the primary audience we see with a lot of competitive screener platforms out there to Tykr that are very male-focused. We’re like, no, no, no, we can’t do that. Any women listening out there, if there are any tips you have, please don’t hesitate. Email me directly, literally Shauna at Tykr and give feedback. And if you think we can make improvements in branding, make it more female-friendly, please let us know. But with the investing, when they asked you the question, and I know you’re not a financial adviser, I’m not either, so this podcast isn’t financial advice.

[00:20:43.390] – Sean

But when they start asking you questions around investing, what do you typically answer with? Do you talk about index funds or ETFs, mutual funds? What do you discuss?

[00:20:54.850] – Patti

Yes. The answer to your question. Yes, I will usually poke deeper into what they are looking for, specifically where they’re at in life and what their situation is currently, what they’re currently invested in and how they’re allocated. Yes, you’re right, I can’t do advice anymore. I’m not wearing that umbrella anymore and that hat. I’ve got to be careful. But I will educate with that. I will show the difference of a mutual fund versus an ETF versus an index fund, and I’ll show them how to look at expense ratios on the firm’s site and how to look at the performance over the last 3, 5, 10 years and how to look at what’s inside that particular fund. Do you like technology? Do you like health care? What sectors are you looking for? I will educate them in that and then they can then decide, Okay, you know what? I don’t love technology right now, but I think health care is great. I’m going to go ahead and put in this fund. Or I can do the S&P 500 and tap into just more. The index funds are low expense ratios and that means a lot more money in your pocket at the end of the day.

[00:21:56.070] – Patti

I’m a fan of index funds. I explain the difference of an ETF being traded like a stock. Again, it’s just the education piece. Then once they have that, there’s that confidence that’s like, okay, now I get this. I have this financial confidence now and I have the ability to… I really want to just create financial independence for these ladies. I want them to feel comfortable. Whether they remarry or not is not a factor. They should be independent and comfortable on their own and just be empowered in that place. If they decided to marry because they want to, then that’s wonderful. I’ve unfortunately run into some ladies who were like, No, I just need to find a rich man. I’m like, No, that’s not the answer. That is absolutely not the answer. It’s frustrating for me to hear that. But anyways, to answer to your question, yes, it’s absolutely all of those things.

[00:22:46.860] – Sean

Yeah. With Tykr, what we do, and for your context, we do let people know that, yes, you can invest in ETFs, index funds, and mutual funds. We do actually rate ETFs in Tykr. But we do let people know upfront that, hey, if you’re more wealth protection mode, go into those bundled products like ETFs, index funds, and mutual funds because we are very focused on building wealth, protection of wealth we value. But building wealth is really good for those who are still working and those who they want to really accelerate the process. That’s why we really guide them towards individual stocks. So if somebody comes to you with individual stocks they’re thinking about buying, how do you really direct them? Because it sounds like you’re doing some of these more fundamental analysis techniques, which you learned with your financial background, the expense ratio you mentioned. Do you say, hey, that stock, maybe you should look at this, this and this before buying it? I’d love to hear your thoughts.

[00:23:43.710] – Patti

Yeah, it’s interesting. When I was with my firm, the philosophy in our firm, even the owner was we didn’t necessarily recommend individual stocks. If they came to us and said, You know what? I got this apple stock from my grandmother and I want to keep it. We’re like, Okay, fine. That’s part of your asset allocation. We factor that into the entire picture. Then depending upon their age and their time to retirement and their other cash issues and their entire picture, we determine whether we can keep all that. We had some clients who came in with very, very heavy concentration in just particular holdings, and they were too focused on those holdings. It was too big of a percentage of their portfolio. We would talk about that. But I don’t necessarily go into each individual stock and say, Oh, yes, Apple is a great company, or This is a bad company or whatever. I don’t do that. It’s really about just the overall understanding diversification, looking at your cash flow as you come into retirement, what’s coming in, what’s going out, how you should be diversified, how you should bonds, bonds versus equities, that conversation.

[00:24:49.210] – Sean

Yeah, really focused on education, knowing the difference between the different vehicles you could say you’re talking about. But it sounds very much like wealth protection, which is slow and steady, wins the race, which is good. We are highly focused on stocks. But either way, I just wanted your perspective.

[00:25:06.440] – Patti

Yeah. We saw many clients who came in and did extremely well holding individual positions. That just was fantastic. I’m not saying one way or the other that’s good or bad. I think it’s all part of the whole package.

[00:25:21.330] – Sean

We talked about the course a little bit. Walk us through the process for coaching. I know this is a service, so you’re probably very limited on how many people you can serve. How does the process work if somebody wants to work with you personally?

[00:25:36.520] – Patti

Yeah, if they want to do one-on-one coaching, I’m pretty much at capacity at 10 clients a month. The group coaching we do once a week, those calls. For those who want to be in the group coaching, I can host many. There’s no limit to that. But yeah, for one-on-one coaching, I definitely want to keep it at 10:00. That way I can service them. We do meet once a week, and I do require a two-month minimum because I know that transformation doesn’t happen in one, two or three conversations. It’s going to take some time. At the end of the day, I want to see that transformation for them. That’s why my minimum is two months. I’ve known some clients who have six-month and one-year minimums, and that’s a long time. I’ve decided on the two-month minimum, and if they can continue, they can continue.

[00:26:20.470] – Sean

Right on. Now, that makes sense. Here at Payback Time, we like to dive into some of the numbers on products and services. Would you be willing to share? What do you charge for your course, and then what do you charge for your coaching?

[00:26:31.860] – Patti

Sure. The course in itself, the Minding Her Money course, if you want to do the self-study, is just shy of 1,000. It’s 997. All that’s on my website, by the way. I disclose all that pretty openly on the website. The group coaching, which includes the Minding Her Money course, again, lifetime access with once a week coaching calls for 90 days. That’s 12 sessions. That’s just shy of 2,500 at 2,497. Then there is a third package that includes all of that. The package of minding her money plus the group coaching plus five sessions with me one on one in that six-month period, that’s actually a six-month period of coaching, and that’s just shy of 5,000 at 4,997. If you wanted to do just personal one-on-one coaching and not go through the Minding Her Money program, it’s a $1,000 per month, and that’s four sessions in a month with that two-month minimum. That’s great.

[00:27:25.560] – Sean

Very much in line with some of the other courses and coaches I’ve talked to on the call, so that’s great. All right, before we jump into the rapid-fire round, is there one key takeaway you can give our audience today?

[00:27:40.120] – Patti

Yeah, if I can speak to the women, I think that one of the biggest things that I can say is just give yourself some grace when it comes to this topic and conversation. If you don’t understand something, if you need some more help with understanding whether it’s an individual talk or analyzing a fund, you feel frustrated with the fact that you don’t know more, but just step back and speak to yourself like you would your best friend and just give yourself that self-love and that grace and just know that you’re on this journey. Don’t be shy in asking questions. If you don’t understand something, ask away. If that person isn’t willing to answer or help you with something, then you probably need to find a different individual to learn from. Your teacher should be somebody who’s patient and absolutely willing to help you. I also shared this. I shared this on a social post recently, and that was if you don’t… If someone’s trying to sell you a product and you can’t turn around and teach that product to a fourth grader, then you don’t know enough about that to invest in. At least not now.

[00:28:40.550] – Patti

It could be a great product. I don’t know what you’re looking at, but a lot of products out there, specifically annuity type products and insurance type products. There’s so many moving parts. There’s so many nuances to them. They’re changing all the time. There’s hidden fees and surrender charges and whatnot. Unless you fully understand it completely, just don’t entertain that until you understand it. Again, if you can’t teach it to a fourth grader, then you don’t understand it.

[00:29:06.000] – Sean

Right on. I actually wrote here, if you can’t teach that product to a fourth grader, don’t buy it. Yeah, definitely great advice. I love it. All right, let’s dive into the Rabbit Fire round. This is the part of the episode where we get to find out who Patty really is.

[00:29:23.280] – Patti

If.

[00:29:24.320] – Sean

You can try to answer each question in 15 seconds or less. You ready?

[00:29:28.610] – Patti

Oh, 15 seconds.

[00:29:29.540] – Sean

Okay. If you take a little longer, that’s fine. Many cases we go over, but it’s a benchmark we aim for. First question, what is your favorite podcast?

[00:29:40.120] – Patti

You are, Sean.

[00:29:41.220] – Sean

I always tell people it’s got to be besides mine. Anything you’re listening to right now?

[00:29:47.180] – Patti

Okay. Gosh, I’m a podcast junkie. I listen to so many. I love Marie Follio. I love Ed Mylet. Eleanor Beaton is a great business coach. That’s more than one. There you go.

[00:30:01.110] – Sean

There’s a few. Ed might I’m familiar with. Maria as well.

[00:30:07.030] – Patti

Yeah. They all talk on different things. There’s so many different areas that we all… I’m really into personal development, not just the financial side of things, but just always growing. That’s why I tap into all these different ones because everyone teaches me something.

[00:30:20.760] – Sean

Right on. All right. What is the recent book you read and would recommend?

[00:30:25.060] – Patti

Well, I will give you a non-fiction and a fiction. Lessons in Chemistry was just a fun read, a great book for those that want to turn off your mind and not worry about work stuff and just entertain your mind. I love Bernie Brown, The Gift of Perfection. That was another great book. Then The Prosperous Coach, which is something that I really enjoy because I’m a coach. It’s just those that are in the coaching field. If you are into coaching, it’s a fantastic book.

[00:30:54.850] – Sean

Nice. All right, the movie question. What is your favorite movie?

[00:30:58.930] – Patti

I would have to say my favorite movie is the one with Sandra Bullock, where I think it’s called The Blindside. I love that movie. The fact that it was a true story was I.

[00:31:09.380] – Sean

Just love that. Football movie?

[00:31:11.080] – Patti

Yeah. Where she adopts this player.

[00:31:13.890] – Patti

Heartfelt.

[00:31:14.620] – Sean

Film, for sure. Yeah, good choice. All right, a few business questions here. What is the worst advice you ever received?

[00:31:23.850] – Patti

I hired a coach many, many years ago, and I paid a lot of money to work with him. He told me that because I had a good mailing list, I should do just affiliate marketing and basically walk away from my business of what I was doing. At the time, it was Teens Cash Coach. It was basically teaching teenagers and high schoolers and college kids about money. He said, I should just do affiliate marketing. I’m like, No, I’ve made this baby here. I’m creating this… No. I even wrote a book and just no. That was the worst advice.

[00:32:03.380] – Sean

That is bad advice.

[00:32:05.090] – Patti

That was, yeah, it wasn’t good.

[00:32:07.510] – Sean

Flip the equation. What is the best advice you ever received?

[00:32:12.200] – Patti

The best advice? Wow. When it comes to money or just life in general?

[00:32:19.000] – Sean

How do you want to answer it? Life in general?

[00:32:21.190] – Patti

Life in general, I will have to say, a friend of mine, when I was going through my divorce, when everything was just complete chaos and I was emotional wreck and things were just… I was very distraught, she said to me, she goes, This isn’t the end of your story. This is not the end. All I could see at that moment was darkness, of course, when you’re going through that. That just was very… To this day, I just remember that as being very uplifting. I’m not sure that was advice, but it was advice.

[00:32:50.880] – Sean

I love it. Either way, that’s good stuff. All right, next up, we have the Time Machine question. If you could go back in time to give your younger self advice, what age would you visit and what would you say?

[00:33:01.650] – Patti

I would probably speak to my 20-year-old and I would say start investing now. Because if I knew then the power of compounding interest, I would be in a very position today. Gosh, that’s one of the things that I would teach kids when I would talk to them. I’m like, Here are some examples of what happens when you just let your money work for you and you just be consistent with investing even a small amount every single month and you don’t touch it. Even better if you put it into a Roth because that’s even more beautiful. I explain what that is. They have to be, of course, working to do an IRA. But I just was, yeah, if I knew the power of compounding back then, boy.

[00:33:46.440] – Sean

I love it. Just to spend a little more than 15 seconds here, I actually tell my friends who have kids, try to set up a custodial account or joint account with your broker or a broker like TD Ameritrade has those and E-trade, I think the list goes on. But that way you can be putting, let’s say, birthday money or whatever money you have, and then when they’re 18, they can take that over. If you give them wise enough investment advice, hopefully they carry it through and don’t take it all out and go spend their money in a cheap sports car or something. But going from, let’s say, age 10, not just 20, but age 10 all the way through 30, then the 40, oh, my gosh. Just unbelievable.

[00:34:28.690] – Patti

Crazy. The earlier you start, there were some examples. I even have one in one of my books of if you just start seven years later, the difference that makes at age 65, just those few short years you waited and the impact that it has. It’s funny. I actually use this example. I know we’re over 15 seconds, but this is going to be fun. If I gave you the choice of writing you a check today for a million dollars, or if I said, I’m going to give you a penny today and we’re going to double it every single day for 31 days, which would you choose?

[00:35:02.660] – Sean

Well, based on the framework of the question, I think I got to go.

[00:35:05.820] – Patti

With a penny here. Yeah. A penny doubled every day for 31 days is over $10 million. It’s just like the power of the compounding. That’s what it is. I don’t believe that. That’s not true. Actually, I did it. I’m like, Oh, crap, that really works. That’s true.

[00:35:22.220] – Sean

We’ve got a download section on Tykr. I might actually put that into an Excel sheet. That way you could just literally look at the math. In fact, I’m going to put that on my to-do list.

[00:35:32.570] – Patti

There you go.

[00:35:34.550] – Sean

Cool. Well, Patty, I really enjoyed our conversation. Thank you for jumping on. I have to ask, where can the audience reach you?

[00:35:42.870] – Patti

Sure. Best places to go to my website is just pattyhandy. Com, P-A-T-T-I, H-A-N-D-Y. Com. On the homepage there, you can click on the link that says download a free roadmap. That’s a roadmap to my program and watch a short training. That way you’ll be in my newsletter as well. Then just feel free to reach out to me. There’s a contact page and I do offer a complementary discovery call, so you can book that on my website as well. Just explore the website and feel free to book a call or reach out.

[00:36:14.070] – Sean

To me. Awesome. Well, thank you, Patty.

[00:36:15.990] – Patti

All right. Thank you, Sean. I appreciate it. We’ll see you.

[00:36:18.140] – Sean

Okay. Hey, I’d like to say thank you for checking out this podcast. I know there’s a lot of other podcasts you could be listening to, so thanks for spending some time with me. Also, if you have a moment, could you please head over to Apple Podcast and leave a review? The more reviews we get, the more Apple will share this podcast with the world. So thanks for doing that. And last thing, if you do hear any stocks mentioned on this podcast, please keep in mind this podcast is for entertainment purposes only. Please do not make a buy or sell decision based solely on what you hear. All right, thanks for your time. We’ll talk to you later. See you.