Audio (Podcast)

Money Mindset: Motivation, Priorities and Behavior

Sarah Webb
By Sarah Webb

Debra Brennan Tagg, Managing Partner at Brennan Financial Services, is the creator of the DBT360 Financial Plan, a proprietary program that helps her clients prioritize their goals, leverage their resources, and address their risks.

 

Connect with Debra Brennan Tagg:

Website: Debra Brennan Tagg, CFP® – Brennan Financial Services

LinkedIn: Debra Brennan Tagg, CFP®

Twitter: @dbt360planner

 

Introduction:00:03Welcome to Plaid Radio by Plaid for Women and the #NoMeanGirls movement. Enjoy today's show and be inspired to change the world.
Sarah Webb:00:16Welcome to Plaid Radio. I'm your host, Sarah Webb, and I'm with today's guest Debra Brennan Tagg. She is the managing partner of Brennan Financial Services and the creator of DBT360 Financial Plan. It's a proprietary program that helps her clients prioritize their goals, leverage their resources, and address their risk. And you know, I love talking about finances. Welcome to the show, Debra.
Debra Brennan Tagg:00:39Thank you. I'm happy to be here.
00:41Well give us a little bit of history about how you came into financial services. Where did you go to school? How did you get experience in the industry?
00:49So for me it was a unique story because my dad had started a financial planning firm when I was about 12. He had worked for a corporation his whole life and just realize that that was not the best path to be able to use his greatest value in the world. And so he started a financial planning firm and originally he started because he had worked in this corporate tax department. And thought, okay, if I'm doing all this for corporation, couldn't I do this for families and help them to reduce their taxes? And then along came the investment piece of it. He just kind of fell in love with financial planning and so at the age that I was at the time that he started it, it was really kind of a family commitment. I specifically remember my parents coming to us and saying we're making this big change and we're not going to have the corporate salary and so there won't be new clothes and fun vacations for a little while until we get this thing going. And so it was kind of an all hands on deck and we're doing this together as a family. My dad worked really, really hard for a number of years and then it just kinda caught fire and he was really great with clients and they really appreciated him. He was always very, very clear and tried to help people to understand what was being recommended for them and why he was making different recommendations. He was not into talking over his clients and just wanted to make sure they understood what would they were actually getting into and what the benefits were of the investments that he was recommending. He just took a slightly different approach and we heard all of that. We heard all of the formation of the company and we would hear the stories around the dinner table about why he was starting this company and the fun that he had working with these different families and so on. And so, it wasn't necessarily in our blood but it was definitely in our upbringing. It just always sounded like a great way to spend your life helping other people and families. I always knew at some point that I would come into the business... I've been in the business doing absolutely everything that has ever been done in the business since I was about 12. I would go down and help him clean the office on Fridays after school. At one point I was the receptionist. At one point I did the marketing and all these different things. And so I always knew that I would come back to it, which gave me the freedom actually to go do some other things before I did come into the business. So I went to Villanova University outside of Philadelphia and got my business degree there and I specialize in marketing, on purpose, because I wanted to be able to bring that expertise back to the firm. And then I went and had fun for a few years. I lived in Los Angeles and worked in the music industry and I was in marketing and publicity out there, worked for a record label and an independent publicity firm. And then just at some point... I was 25 or so, and I just thought, okay, I've had kind of the fun stuff that I wanted to get out of my system and I'm really ready to get back and get focused on business. And so I came back to Dallas and apprenticed with my dad for two years and then started my own practice. That was in 2000 and just have been growing ever since.
03:44Excellent. Did you major in finance or business at Villanova?
03:48It was a business major, is really a marketing major, but I did not major in finance, so I took finance and accounting classes along the way, but that was not my focus.
03:57Well, when you talk about how your family is a family run business and that you're talking about it at the dinner table and you know, you have all this experience, how does that lead to the success of the firm but also some potential challenges?
04:11Well, anybody who's been a family run business knows about both. There's a lot of both. I think the success part of it, there are two different things. I think for our family it was just that we were part of each other's fabric and so we always have had each other's back. We manage different parts of the firm and so the older we got and the more experienced we were with running the business, then my dad was able to back away from the business more and more. And so we each took different parts of the farm to manage aside from just managing our clients and our individual teams. We also took the marketing and the finance and the technology pieces. When you're working with your siblings, you always know that in the end everybody has each other's back and that we are going to try to help each other and that we're all here forever and that piece I think is the part that is best for our clients. We had a number of people come to us over the years who would say, okay, I was at this firm and my advisor left and then I was given to somebody else and I had to start working with that person and I either didn't like them or had to explain my story all over again. And I think one of the things that is really important about our firm is that we will be here forever. That this is what the Brennans do. And so I think that that is a great foundation for our clients that they know as long as they want to be here that will be here for them. And also just that we have the ethics hardwired into our firm. You know what my dad started with just doing the right thing by the client and putting the clients first that has just never wavered and it's not going to after 35 years of all of us doing this together
05:47And that makes sense. I've been passed around before and I definitely had that experience, so I had never thought about it like that. That, you know, this is what the Brennan's do. We're to serve you. I think that's an amazing testimony. So money is scary for a lot of individuals, but it's something you've been exposed to since birth and you're always in this conversation. In working with your clients, how have you seen money barriers hold them back from building this wealth that they dream of?
06:16Well, I've talked about this a lot. I don't really know what happened, but I think that there used to be really good solid rules of thumb that were passed down from generation to generation and it might have been that there were simpler financial goals. So back when you used to work for a corporation your whole life and then retire and honestly passed away 10 years later, you probably could handle retirement pretty easily and you had a pension, you had social security, maybe a little bit of savings, but you were not responsible for amassing enough wealth to be able to retire and live for 30 years. That is a completely different kind of goal than it used to be 20, 30, 40 years ago. And education goals are a whole lot bigger than they used to be. College is so expensive for families and I think many families don't even know how expensive it is and the wages have not caught up with this huge expansion in goals. But at the same time I really do think that parents are not passing down the golden rule of thumb that they used to. And so, used to be people knew how much money to have in savings. People knew not to have credit card debt. People knew that you had to start saving as much as you could from the minute that you started. If you wanted to buy a house or educate your kids or retire one day, but now it seems like there's a lot of financial "education" out there and I'm just going to put "education" in air quotes because there's information all over the place. There's information on the Internet everywhere, but people don't know how to apply it to their own lives to be able to make a decision that is appropriate for them or that's the most efficient for them to get to a goal. So what we find a lot is that people will come to us and say, okay, I've got all of this stuff. I've got goals, we've got income, we've got some assets, we have some kids we need to educate. We've got a house to pay off all these things to consider and we have absolutely no idea what thing to do first or which one should take priority or do we do it all at once. And so it seemed like people are really missing a framework to be able to make a decision. They don't know how to put the pieces in perspective so that they can say, okay, this is the obvious next thing that we have to work on. So one of the things that we really try to do when we work with clients, especially when they go through our financial planning process, is to put all those pieces on the table and say, okay, what is it that you're trying to achieve and all these different areas, and then how can we put a framework around each one of them to help you make that decision. So for example, we might have a family that has really big educational goals. They might want to send their kids to any private school in the country when the child reaches age 18, well that's a very expensive goal and if they don't have any family members to be able to help them with that, then that looks like one thing. They have wealthy parents that might be able to contribute to that and they don't have to make all the contributions for the child's lifetime, then it looks like a completely different plan. And so we can help them say, okay, do you need to be putting your resources towards your child's education right now or do you have other ways that you could pay for your child's education? And really the priority needs to be paying off your debt or accumulating enough in cash reserves that you feel more comfortable about your financial plan. So it's all about the framework of really looking at what are all of your resources, what does all of that look like? What are all of the goals that you have? And then if we apply the resources correctly to the goals, then what are the things that could come along and trip you up in the meantime?
09:40Yeah. I like when you started, you talked about how our financial goals are bigger than kind of a simplistic model. My parents both worked at the same place for over 35 years and so they were on the very simple model. My husband and I are both self-employed, which is a completely different model. And so you're right, I mean the finances look much different. And you know, my parents actually, we talked a lot about finance: being debt free, paying for college, paying down your mortgage, and all of that is still important except their model doesn't really apply to my life. Not that those basics aren't there. But when I talk about a SEP-IRA or you know, managing the investment side, like you said, they had pensions. So they kind of were like, oh that's nice and you need to ask someone else these questions. So I do think there is a lot that we pass down to our children.
10:33Well it's interesting that you talk about that also because I have talked a lot about the gig economy and you know, there's a lot of freedom, which is essentially what you're talking about as being self-employed. And so, when you're self-employed you take on more responsibility for your own financial goals. And so if you work in a corporation, for example, you probably have a 401k that you can contribute to but you don't really have to think as much about, There are people that are going to come in and educate you. The plans in place. And it's an automatic deduction kind of a thing. It was probably a health insurance plan for you. There's probably some insurance plans as far as life insurance and disability. So a corporation or a large company helps you to put some of the basic financial planning in place. So many more people are self-employed now and so they really have to create all of that from the ground up. And like you're saying, that is a completely different task than it is to go to a corporation and say, yes, I'll sign up for that plan, that plan, and that plan.
11:28Well, and also, large employers are able to have economies of scale. So, the costing is much less when you're working versus health insurance on the open market and some of those things. And even when you talk about health insurance and 401k, I find that when I work with people who are self-employed, it's the taxes that trip them up the most. You know, they forget to take out their own taxes because when you're a wage earner you have all of that. And so I've seen that trip up a lot of people just on getting caught on April 15th. It's like, oh shoot was kind of, you know, we've talked about this traditional view of kind of passing down from our parents, but mindset and I, I feel like we also get a lot of our money mindset from our family. You know, how did our family handle money? But it's so critical in how you view money. Some people have a scarcity mentality or an abundance mentality or, "we never spent money on this." How do you help people shift their money mindset into helping them achieve their financial goals?
12:32I think that part of what is going on in today's society is that people are not as intentional as I think that they should be with their money. I honestly think a lot of people can achieve their financial goals if they were more intentional about what they use, their money for it and how they funnel their money. So what we see quite a bit is that people have random expenses that they don't actually care to be doing. They will spend money on going out to eat. That's really the biggest one that's the easiest to identify in most of our families is that they eat out a lot and if they said okay, we're just going to make the effort to eat at home, they would have a whole lot more available each month in the way of cash flow to be able to put towards their actual financial goals. And so part of it, when we go through our financial planning process is to say to them, what is it that you're actually trying to achieve and let's make sure that you are intentional about those pieces. And then whatever is left over is what you have for the fun part or the stuff that's just kind of random spending, like I was talking about. So we talk internally a lot about motivation, priorities, and behavior. So we might have a family that comes to us and they say we want to educate our kids. We want to have the right amount of life insurance. We want to retire at a certain amount of time and so that's really what our focus is. But their priority doesn't really show up that way. That their priorities really wind up being that they want to go on fun vacations and they do want to go out to eat because they don't want to cook at home and they want to buy all the coolest trendiest gadgets that are out there and their behavior then follows that. That they don't wind up spending the money to put it towards retirement plans or education plans or any of the things that they originally said that they wanted to do. So what we try to do is to align our client's motivation, priorities, and behavior. So if the motivation is I would like to retire by the age of 60 from the corporate job so that I can go travel the world and be a yoga teacher. That maybe my dream. But if you want to do something like that and you want to make a transition in your life at an earlier age or even if you just say, I want to be able to retire independently at the age of 70, whatever the goal is, then if the priority is anything other than funneling money towards that goal, then your behavior is not going to match up with it. If it is well structured, then you say, okay, we have this retirement goal. I want to have enough wealth to make that decision at the age of 60. Then your priority has to be, I'm going to put my money towards that retirement goal first. Not as the leftover thing at the end of the month to say, how much money do I have left over after I've done all the fun stuff. It has to be your priority. Then your behavior would be that we have looked at how much money you need to accumulate by the age of 60 to have that freedom and then we do a reverse calculation to say, how much do you need to start investing? Now? On a monthly or an annual basis, in order to be able to get there. And so all of that is aligned. When the motivation, the priorities, and the behavior are aligned, then the financial plan becomes much easier to understand, much easier to execute and then much easier to actually achieve all those goals independently.
15:37100 percent agree with that. And then you get in this instant gratification. I do think going out to eat and that, let's call it lifestyle spending... Like you said, let's say that I have a goal to put my kids through college debt free. But right now I have in front of me this person that's got to get to five different places and we need to eat dinner. How do you help them... You're not a life coach and you're not telling them, "you need to plan your meal," but how do you encourage them to keep that motivation and prioritization in this instant gratification society and putting that aside?
16:17So that is where really the proof part of our plan comes into place. So we have five steps in our financial planning process and the last step is the proof and so that's the part where we monitor what we've recommended to see if it's actually being implemented correctly. And so we really are kind of like life coaches. I mean we don't call ourselves life coaches, but certainly everything you do in your life is affected by your money and your money is affected by everything you do in your life. And so we do recommend to clients that they take a look at their budget. So if we say, okay, we want you to designate this much per month for education or retirement or paying off the house, or even something fun like accumulating money to go on a vacation. Then if they come back to us six months later and we look at where they are against their goals and they say, Oh yeah, no, we really haven't been able to do it because life this and life that and all these things. Then we know that they are not prioritizing what they said that they were going to prioritize. And so then we go back with them and say, okay, let's look at how much you're actually spending on Uber, ongoing out to eat... all those kinds of things and say are these things that we can actually take down? And it's actually it's very eye opening for most of our families that we work with, especially if it's a family where they're married, because a lot of times they haven't really had these discussions. They just start spending. And so, kids get into playing sports and so you have to pay for this, that and the other with sports and afterschool activities and all of those kinds of things. And then suddenly you think we're making a lot of money and we don't know where the money is going and we're probably not making the best decisions long term but we don't really know how to stop it. So sometimes we just have to take an analysis on their cashflow and say, you really are still spending $500 a month, or whatever the number is, on eating out. If you only spent $250 a month, you could take that $250 and you could then invest in and over time it might equal this amount of money and would that be a better use of your money and so when they can actually see it and when we can model it for them and say this is what that change could mean in your life it is much easier for them to commit to whatever the behavior is that they're trying to reduce. The eating out or whatever it is.
18:30No, I think that makes sense. It's like you've got to see the proof of what that could be. It's almost like in high school they were like, "if you invest a dollar a day you'll be a millionaire..." See how that actually calculates out and the numbers are actually astonishing of really how much you can do with such a small investment. You know, we're focused on women. What challenges do you see for women in facing their money fears or the lies we've told ourselves about money? A lot of times I hear women say, "I'm not good at money," or things like that.
19:05Neither are men. Yeah. I mean honestly, I think the fallacy is that we think that men are better at money for some reason and they're just not. I mean they're just human beings like us and if they've had experience with money, if they have had a family that taught them well, just like if a woman had a family that taught them well, they will understand it better and if they have had good education, maybe through their employer they might understand it better. I do think there probably is some institutional knowledge that men have had because more men worked and I just don't think that that's true anymore because we're in a much more even society as far as how many women work versus how many men work. But I think historically that might've been the case that men were the ones who were taught about the pension at work and did invest in their 401k at work and knew about the family benefits through work. So I think that that has been embedded and is totally irrelevant anymore. Also what I hear from women is, "I'm doing enough, I don't need to be doing the money."
20:10Yeah, we're tired!
20:12Every family has a chore chart. We have a chore chart at our house and so my husband is in charge of taking out the trash, registering the kids for sports things and getting them their equipment, and picking up any dead varmints in the back yard. I don't want to do any of those things, you know? And, and I think that what happened... Now in our house, obviously I'm in charge of the money, but my husband understands all of it and so it's not that he is left out of it. It's not that he's not making decisions. It's not that we don't discuss every single thing together about money, it's just that I'm in charge of implementing it for obvious reasons. So it's not that women need to be in charge of yet another thing. They just really need to be educated and involved. The statistic that keeps getting me is that 40% of women over age 70 live alone. And so what ended... And that could be for a variety of reasons, they never married, they got a divorce, their husband died, whatever it was. And so you know, when you think about that, it's not that we are all going to have this other person to depend on forever, whoever that other person might be. And so if you think about relegating your gigantic financial decisions to another person, even if they have the very best intentions, they may not be the decisions that you would have made. And so commonly we will have someone come to us that is older and finds herself in a single situation for the first time and A) that's pretty scary. So if you've never done it before and you don't know anything about the money, that's an emotionally scary time to be learning about it. But it's also scary to be learning about money for the first time very late and your life. And also they might say, you know, I know that my husband took great care of me and I know that he set up all these plans and all he ever wanted was that if something happened to him that I would be okay, however, there are some changes I want to make. And so it's almost always there is something that was done in a manner that is not consistent with what this female would have chosen for herself. And again, no ill intent. Nobody was trying to do any harm to anybody, but it just winds up that indeed the financial plan is not actually the way that she wanted it to roll out. And she just left it in his hands. All these years. We certainly see less and less of that with the younger generation. So our clients, I'm Gen X, I'm 45 years old and so our clients who are Gen X and younger, the women are much more involved. But I would still say that the numbers are staggering with how many women are actually still leaving those financial decisions up to a man in their life. A husband, a father, anybody other than themselves.
22:45Yeah, I do find that curious. I have a girlfriend who's married. She's an older millennial and she lets her husband do everything and I say, well, do you participate? Do y'all set a budget or... I guess the example was her husband bought a new car without asking her and I'm like, wow, that would never have flown. I mean we would have World War III if someone went out and bought a car without talking to the other person. I was like, do you know if you can even afford this car? And she was like, you know, I don't even really know. And she was so terrified to ask and I think she was scared to ask because she didn't want to appear stupid or uneducated on the topic. You know, she's a younger person. Like there was no reason he would have this built up knowledge without her. So I still think there's definitely challenges there. And I encouraged her in that situation to say, "well, if he thinks that he knows a lot, ask him to teach you." Don't make it like you're trying to into the business in a sneaky way. Approach it like, "hey, I'm your spouse. I want to know a little bit about this. You obviously have a better handle on it, and thank you for doing this for our family, but I just feel like I need to know..." like you said, "what if something happens to you? I need to know some general basics here." And for me it was starting with the "how can we afford this car?"
24:05Well and also some basic rules that can be put in place just so that those kinds of things don't happen. So we encourage our families, if there are two people that are leading the family, that you would have a rule of thumb that if someone is going to spend over x number of dollars that they approve it with the other person. So even if it's a vacation that you want to go on, there might be a vacation that my husband and I are planning, but I have one version of it and therefore one budget in mind and he has a different version of it in a different budget in mind. And so if he just goes and books this fabulous vacation and he's thinking he's doing something that I'm just going to love. And then I say, you spent what money?! That's probably not a great way to be running a family. So, we always recommend, what is the number that you're going to say that you were going to consult each other on. It shouldn't be like $50, but it should be something that's meaningful to your family and your family's budget. And then it just starts to put some of that in place. But I mean, I, I can't imagine just because of what I do for a living. I can't imagine not knowing the money information, but it's also because I don't understand how you can really run a family well without knowing whether there is money there. Are we all bringing in enough money as far as our salaries go? Are we going to be able to retire one day? Those are very meaningful discussions and whether you are with your husband, you know everything is going well or whether you find yourself alone one day. Those are questions women's should be able to answer on their own. Whether they are the ones pulling the trigger on the actual plan and implementing the plan, they should be able to confidently be able to say, if something happens to my spouse, I know what the answer is. If I'm going to be left alone, I know what the answer is. If we want to retire together, I know what the answer is, whether we can do it or not. I think that every person in, I mean anywhere really should be able to answer those questions for themselves. I mean even independent of whether they're in a marriage or not. If you're in a marriage, you should still know what's going to happen to you and all of these different situations.
26:02Yeah. Well, when you talk about the $50, very early on in our marriage when we were both students, it was $25. You had to ask the other person if you spent $25 and now we've up to that quite a bit. So it's something we can look back and laugh about now. Oh, remember when we had nothing and $25 was a really big deal? Well tell me a little bit about the DBT360 Financial Plan. What does it help us do and how can it be part of building out a financial plan?
26:32So we have five steps that we go through and we had all start with P to make it easy to understand. So the first one is purpose. And so when we think about this, when we do financial plan, when a family comes to us to hire us to do a financial plan, we are going to take absolutely everything into context. And so the way that we think about it is that we stand in the middle of our clients' lives next to them and we want to look out in all directions and look at everything. We want to look at, their resources, their goals, their risks, what's going to make it go well, what's going to make it not go well. So that's our responsibility when we complete a financial plan. For people who are going through it themselves, if they're saying, well, I just want to be able to figure out this one thing, we do recommend that people don't try to do an entire financial plan on their own because that can be very overwhelming. But if you think about just one thing that you really want to get done. And so a lot of times we'll hear that it's either we want to make sure we have the right amount of cash reserves or I know we don't have enough life insurance. And so we want to put the right amount of life insurance in place. So let's think about something fun like a vacation. It's a little bit easier for people to get their head around. So we start with the purpose. So why do you want to go on a vacation? Well, you know, I grew up traveling and it's important to us to make sure that our kids see the world. So we want to go on a European vacation or some place outside of the United States. So we then look at the potential. And so what is the potential of getting that done? How can we actually have a family execute that? Well, if we cut back on some of our discretionary spending, maybe cut back on some of the eating out like we had talked about, hold off on buying some new clothes. Don't buy that new car this year than we would have enough in our cash flow to be able to put the money towards the vacation budget. Then we move onto pitfalls as step number three. So the pitfalls would be as we've put this great plan in place and we decided we're going to accumulate money for 12 months and then spend it all in, you know, 10 days. Then what is the pitfall that can trip us up along the way? Well, what if one of us loses a job? What if one of the kids get sick and we can't go on the trip or something like that. So then we think about, well, what would happen in that case? This is an easy example because you know, obviously if someone loses a job, then all we do is delay the trip. We don't have to take it off the plan and we don't have to say, well that's the end of that, it'll never work. We just delay the trip. Or we say that we can't do that kind of trip, but we're going to do a different kind of a trip. The step four then is the plan. And so that's actually saying, okay, if we want to do this in 12 months, out of my paycheck, I need to contribute x number of dollars into a savings plan. And out of your paycheck we need to contribute x number of dollars. We're not going to do this on our credit cards. We are going to do it out of cash. So we're going to commit that we're not going to do this until we actually have the money accumulated. And then that fifth step is the proof like we were talking about earlier, which is then we monitor it. So we have a digital platform that we use for our clients when we go through a financial plan. So we monitor that with them and say, okay, are you actually accumulating the money? So if we don't see the money going into a bank account one month, we can say what's going on there? Did you get disrupted with some cashflow issues that you couldn't do that? And then how far back do we need to push the trip so that you can actually still go on the trip. But maybe just in a different timeframe. So in all of that, obviously, then the cycle starts again, you know. Then we say, okay, well if we're not on course, what do we need to do to course correct and then what's the plan now, now that we've course corrected?
29:55I feel like this would be a little bit of hard love or tough love. "You said you wanted to do this, but your actions aren't telling me that you want to do this." I feel like I'm going through a Love and Logic course, but at the same time, if I came back... If you were my financial advisor and you're like, "hey, you're not saving for your vacation like you said you wanted to do," I'm an adult and I'd be like, well, "we've decided to do something different" or "you're right. That's really not important to us. This other thing is more important." So really it's not maybe a little bit of tough love on some of the bigger things, but really a course correction potentially.
30:31There's a lot of tough love in our office. I mean, honestly, I think that that's one of the things that we're really good at is that we're here to serve our clients and so our goal is to start with the textbook answers. So we say, okay, you said you wanted to do this, you're not doing that. What's going on? This is what you need to do in order to achieve that goal. And so the textbook answer is you need to put money in a savings account, just for an example, but then you have to layer all of life on top of that. And so if they have come up with this dream, okay, we want to go on this big, big vacation, we're going to save money, and then they don't do it. Then we have to put the whole thing on pause and say, why aren't you doing it? Commonly you then find out that maybe one of the spouses doesn't really want to go on the trip and doesn't really think that's their priority and maybe really wants to be doing something else. Therefore, he or she is not contributing to the plan as everybody agreed to. So that is equally valuable for our clients and for us to understand so that then we know, okay, maybe we need to do a little more discovery about what they're really trying to achieve that they can agree on. Because a lot of times when couples first come to us, they're talking at each other. They're kind of pointing at each other and saying, well, I want to do this. Well, you're going to do that, and you know, might be family upbringing. The way that they were brought up, it might be, you know, one of them wants to buy a car and the other one doesn't, or whatever it is we want to take, especially married couples, we want to put them shoulder to shoulder and look out at a goal together so that they are focusing on the same thing. Instead of pointing at each other and saying, you did this, you did this. I don't want to do that. You don't want to do that. We want them to say, okay, we can agree on this goal. We're now going to look out at the goal together and we're going to walk side by side towards the goal knowing that it's the best thing for our family and that we agreed on it
32:16And there's so much value in that, financial and otherwise. Well, thank you for sharing that. I want to talk to you a little bit about our #NoMeanGirls movement. So we have a campaign, #NoMeanGirls and it's a place. It's all about women supporting each other and giving themselves the self-care that they need. Either personally or professionally, have you ever experienced mean-girl treatment?
32:41Not as an adult. I very carefully select the women that I'm around, and all people that I'm around, not just women. I, I very carefully select the people that I'm around so that I don't have to deal with all of that. But I will say that as soon as I saw the #NoMeanGirls, the story of my sixth grade life came back to me in a flashback. And I mean, it's, it's just so funny because I really don't have mean girls in my life, like I said, but the experience that I had in sixth grade where I suddenly was, I was in the popular group and then suddenly I was an outcast from the popular group and I kept going, "wait, what just happened? How did it happen? What happened there?" It was probably one of the hardest things that I ever went through at that young age. But it really has stuck with me my entire life and I learned great lessons from it. I mean, really the lesson was don't hang out with the people that are popular just because they're popular, hang out with good people because you like them and they're smart and they're funny and they help you be a better person. It happened at a young age to me and I'm very grateful for it. It was really hard to go through at the time. But it probably saved me a whole lot of pain as an adult. And so I really don't have it as an adult and I fully support that's a movement because we all need to support each other. We, we've got enough going on, we don't need to be hurtful to each other.
33:55Yeah. Most people go back to that middle school or high school experience. It imprints on us these friendship roles that we take with us and it's great that you were able to turn that into, I'm just not going to be around people like that and so you limit your exposure as an adult and really you have those close knit friends that you need versus being liked by everyone. So it's definitely lesson I think we can all benefit from. Thank you for sharing that.
34:23Sure.
34:24How can our listeners contact you or learn more about you if they're interested in engaging or finding out maybe it kind of exploring their own personal financial plan.
34:33Okay. So I would give them three ideas. The first one is that we have a lot of financial planning information on our website and so that is just DebraBrennanTagg.com and then if they want, if they're ready to get started or have any questions specifically for us that we can answer, they can either email us or call us and so the email is TeamDBT@Brennanfinancialservices.com and our phone number is 214-764-1977.
35:03For our listeners, I will put all that in the show notes and you do have a very engaging website. I kind of like to poke around and find out a little bit of things. I thought it was very well done and a great resource. And that's a wrap for Plaid Radio. Thanks for being with us, Deborah. I really appreciate it.
35:20Okay, and we actually... I have to do a disclosure. So I have it and can just read it off to you.
35:27Let's do it.
35:28Securities and advisory services offered through FSC Securities Corporation member FINRA SIPC. Insurance services offered through Brennan Financial Services, which is not registered as a broker dealer or investment advisor. Financial planning services offered through DBT Wealth Consultants LLC, a registered investment advisor. DBT360 is a marketing name for the proprietary financial planning process designed by Deborah Brennan Tagg. Listed entities are not affiliated with FSC Securities Corp. Sarah Webb, Plaid Radio and Plaid for Women are not affiliated with FSC Securities Corporation.
36:01There we go. Perfect.
36:03Great.
Sarah Webb
A bit about me, I'm a wife, mother, daughter, sister, friend, employee and volunteer. I am married and have two children - one who aspires to be a secret spy ninja and the other wants be a doctor for toys...Read More
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