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

12/21/23 • 70 min

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.
What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
Did you enjoy this episode? If so, please leave a short review here
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Watch the full interview here: https://youtu.be/xGZg8IiDNSg

Don’t forget to help us grow by subscribing and liking on YouTube!

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.
What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
Did you enjoy this episode? If so, please leave a short review here
Subscribe to Leveling Up on iTunes
Get the non-iTunes RSS Feed

Connect with Eric Siu:

Previous Episode

How I made $1M in my first 20 days of YouTube | Mark Moss

Mark Moss discusses his journey as a content creator and the success he has achieved on YouTube. He shares his strategies for creating engaging content, including using storytelling and copywriting techniques. Mark emphasizes the value of attention and the power of personal branding in marketing.

Watch the full interview here: https://youtu.be/xDnO-OtGjvc

Don’t forget to help us grow by subscribing and liking on YouTube!

TIME-STAMPED SHOW NOTES:

[00:00] Mark Moss shares his success on YouTube despite advertising bans.
[03:19] Mark Moss explains the value of long-form content for building trust.
[05:23] Short-form content as a top-of-funnel strategy.
[07:25] Mark Moss breaks down his strategy for creating engaging hooks.
[10:15] Transitioning to evergreen content and remote work.
[13:27] Changing content workflow and focusing on YouTube.
[16:20] Mark Moss wants to focus on building equity.
[18:30] The future of marketing is a combination of earning and buying an audience.
[21:00] Why personal branding and personal stories will be important.
[22:54] Utilizing different platforms for different touch points.
[24:24] Mark Moss highlights the power of an organic testing audience.
[25:25] The importance of embracing both direct response marketing and tech.
[25:50] Mark Moss shares his experience of losing everything in 2008.
[29:22] Mark Moss discusses how a random message led to a deal with iHeart Media.
[30:21] Mark Moss shares a story about meeting Hal Elrod and realizing the impact of his content.
[33:10] Mark Moss discusses his business empire and equity positions.
[39:11] Mark Moss shares revenue figures for his content business.
[42:10] Mark Moss discusses his frustration with coaching and his shift towards taking equity in businesses.
[46:34] Mark Moss admits his weakness in hiring and delegation.
[51:06] The attack vectors and the fear of a housing crash.
[52:26] The possibility of an inflationary crash instead of a deflationary crash.
[53:50] The role of the Federal Reserve in creating booms and busts.
[56:49] The dysfunction in the bond market and the US government's increasing debt.
[01:01:30] How to protect yourself from inflation.
[01:04:21] Will there be a recession in 2024?
[01:07:45] Take the market as it is.
[01:10:22] Mark Moss talks about the 3 levels for people to learn how to learn.
[01:15:39] Mark Moss talks about how he is invested right now.
[01:20:18] Mark Moss shares his insights on Cathie Wood’s Bitcoin valuation model.
What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
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Next Episode

The Bank Where Subscribers Are Your Credit Limit | Eric Wei

Eric Wei, co-founder of Karat, discusses the challenges that creators face in the financial ecosystem and how Karat aims to provide financial services tailored to their needs. Eric Wei also talks about the evolving landscape of the creator economy, the need for creators to experiment with new formats, and the importance of building deeper engagement with their audience.

Watch the full interview here: https://youtu.be/xGZg8IiDNSg

Don’t forget to help us grow by subscribing and liking on YouTube!

TIME-STAMPED SHOW NOTES:

(00:00) Introducing Eric Wei, Co-founder of Karat – a financial platform for creators.
(01:10) Many creators struggle to get business credit cards.
(04:19) Karat focuses on organic marketing and trust-building.
(09:17) ZHC, a top creator, became one of Karat's first clients.
(09:59) Karat built credibility through multiple avenues to reach creators.
(10:21) Karat is building a central ecosystem for creators' financial needs.
(12:31) Trustworthy creators have direct connections to their community
(14:35) Creators are creating newsletters for deeper engagement
(19:00) Emma Chamberlain's evolution and monetization
(20:16) Monetization strategies for different types of creators
(22:23) Blurring the lines between creators and businesses
(24:38) Behaviors that separate successful creators from low-performing ones
(26:29) Importance of finding content market fit
(28:06) Alexandra Botez as an example of a successful creator
(30:21) The world of creator houses and agencies
(30:55) Importance of cross-sphere collaboration and specialization
(35:11) Challenges in creating a consistent podcast format
(37:31) Business model and lead generation through podcasting
(39:07) Differentiating the ad agency and the importance of focus
(40:11) Recurring revenue and sticky clients make agencies attractive to private equity.
(41:42) Focus on what you're good at rather than diversifying.
(46:26) Setting goals and allowing the team to figure out how to achieve them.
(47:16) The concept of barrels and ammunition in organizations.
(49:57) The impact of achieving external validators of success
(53:51) There are other paths to success
(57:44) Eric Wei discusses the meaning of life and personal values
(59:05) Eric Wei and Eric Siu discuss the benefits of strict parenting
(1:03:08) Eric Wei explains his hesitation to have children
(1:04:10) Eric Siu shares a perspective on parenting
(1:06:00) Eric Wei talks about optimizing for freedom and responsibility
(1:07:44) Balancing mission and mental health as a founder
(1:09:44) Eric Wei’s Learning Stack
(1:11:23) Exploring the concept of freedom and interference
(1:14:11) The importance of freedom over equality
(1:14:53) The challenges and stereotypes faced by Asian founders
(1:17:06) The need for more support and collaboration among Asian founders
(1:21:50) How to find Eric Wei online
What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
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