From Tipped Income to Retirement: A Guide to Managing Fluctuating Income"
05/12/23 • 27 min
Are you struggling with managing your finances while working in the service industry? Look no further than Barbara Sloan's book, "Tipped: The Life Change Guide to Financial Freedom for the Service Industry Employees."
This episode features an interview with Barbara Sloan. Barbara joins us with a background in the service industry, construction and working for a Wall Street Investing firm.
The conversation covers topics such as Barbara's background, her transition into the construction industry, and her advice for managing fluctuating income in the service industry. Barbara shares that she wrote a book to help people in the tipped industry manage their finances better. The book covers topics such as tracking income and expenses, emergency funds, retirement planning, and mindset. Floyd and Barbara also discuss the importance of financial literacy and simplifying investing for people.
In this episode of the Really Simple Investing podcast, Barbara shares her experiences working in the service industry and the lack of financial education available to workers. She emphasizes the importance of tracking income and expenses, and suggests looking to how businesses manage their finances for guidance.
But it's not just about managing day-to-day finances. Barbara also covers retirement planning and the benefits of tax-advantaged accounts like IRAs and brokerage accounts. She encourages people to prioritize their own financial well-being and shift their mindset to that of a saver or investor.
Beyond finances, Barbara's book covers topics like boundaries, environment, and mindset. She believes that it's possible to have a great life while doing what you love and retiring early.
If you're looking for a comprehensive guide to managing your finances and career in the service industry, be sure to check out Barbara's book, available in paperback, Kindle, and hardcover on Amazon. And you can learn all about it in the podcast.
Writing a book to help tipped industry workers [00:03:49] Barbara discusses what inspired her to write a book to help people in the tipped industry manage their finances better.
Barbara Sloan, 00:06:59, "you can't budget your way out of poverty".
Paid Time Off and Emergency Fund [00:09:07] Barbara talks about the lack of paid time off in the service industry and the importance of setting up an emergency fund.
Retirement Planning [00:12:07] Barbara emphasizes the need for retirement planning in the service industry and discusses the different types of retirement accounts available, including brokerage accounts and IRAs.
Barbara Sloan, 00:13:58 "I think a lot of people lose out on hope when they think about retirement and the way that I try to remind people to have hope that you can achieve a retirement on a low and middle income is the fact that you don't have to invest what somebody who earns six figures has to invest in order to maintain your lifestyle."
Creating a Common Language for Investing [00:18:00] Barbara discusses how financial services use jargon to intimidate people and how she uses analogies to make investing accessible.
Investing in Index Funds [00:20:02] Floyd and Barbara discuss the benefits of passive index funds, including Warren Buffet's recommendation to invest in the S&P stock fund.
Barbara's Book as a Career and Financial Guide [00:25:10] Floyd and Barbara discuss how her book is more than just a financial guide, but also a career guide and a roadmap to lifestyle design.
Planning for a Great Life Doing What You Love [00:26:11] Barbara talks about how her book can help people plan for a great life while doing what they love, even if it means staying in the service
Learn how to make investing simple for anyone and get on a path toward wealth.
Are you struggling with managing your finances while working in the service industry? Look no further than Barbara Sloan's book, "Tipped: The Life Change Guide to Financial Freedom for the Service Industry Employees."
This episode features an interview with Barbara Sloan. Barbara joins us with a background in the service industry, construction and working for a Wall Street Investing firm.
The conversation covers topics such as Barbara's background, her transition into the construction industry, and her advice for managing fluctuating income in the service industry. Barbara shares that she wrote a book to help people in the tipped industry manage their finances better. The book covers topics such as tracking income and expenses, emergency funds, retirement planning, and mindset. Floyd and Barbara also discuss the importance of financial literacy and simplifying investing for people.
In this episode of the Really Simple Investing podcast, Barbara shares her experiences working in the service industry and the lack of financial education available to workers. She emphasizes the importance of tracking income and expenses, and suggests looking to how businesses manage their finances for guidance.
But it's not just about managing day-to-day finances. Barbara also covers retirement planning and the benefits of tax-advantaged accounts like IRAs and brokerage accounts. She encourages people to prioritize their own financial well-being and shift their mindset to that of a saver or investor.
Beyond finances, Barbara's book covers topics like boundaries, environment, and mindset. She believes that it's possible to have a great life while doing what you love and retiring early.
If you're looking for a comprehensive guide to managing your finances and career in the service industry, be sure to check out Barbara's book, available in paperback, Kindle, and hardcover on Amazon. And you can learn all about it in the podcast.
Writing a book to help tipped industry workers [00:03:49] Barbara discusses what inspired her to write a book to help people in the tipped industry manage their finances better.
Barbara Sloan, 00:06:59, "you can't budget your way out of poverty".
Paid Time Off and Emergency Fund [00:09:07] Barbara talks about the lack of paid time off in the service industry and the importance of setting up an emergency fund.
Retirement Planning [00:12:07] Barbara emphasizes the need for retirement planning in the service industry and discusses the different types of retirement accounts available, including brokerage accounts and IRAs.
Barbara Sloan, 00:13:58 "I think a lot of people lose out on hope when they think about retirement and the way that I try to remind people to have hope that you can achieve a retirement on a low and middle income is the fact that you don't have to invest what somebody who earns six figures has to invest in order to maintain your lifestyle."
Creating a Common Language for Investing [00:18:00] Barbara discusses how financial services use jargon to intimidate people and how she uses analogies to make investing accessible.
Investing in Index Funds [00:20:02] Floyd and Barbara discuss the benefits of passive index funds, including Warren Buffet's recommendation to invest in the S&P stock fund.
Barbara's Book as a Career and Financial Guide [00:25:10] Floyd and Barbara discuss how her book is more than just a financial guide, but also a career guide and a roadmap to lifestyle design.
Planning for a Great Life Doing What You Love [00:26:11] Barbara talks about how her book can help people plan for a great life while doing what they love, even if it means staying in the service
Learn how to make investing simple for anyone and get on a path toward wealth.
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Really Simple Investing Podcast - From Tipped Income to Retirement: A Guide to Managing Fluctuating Income"
Transcript
Floyd (00:00:08) - Welcome to the really Simple Investing podcast where you can learn from others how to be a successful investor. We bring you investors, authors, and experts, and investing to help you learn more about how you can invest in some really simple ways if you want to be a successful investor. Join us every week for the interview.
Floyd (00:00:30) - I'm your host, Floyd Saunders. And today we have as our guest, Barbara Sloan, among other things, she's an author. Uh, she has a
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