Pod Insights Financial Tea with Mrs. Dow Jones Breaking Down our Money Mindset w/ Hannah Bronfman and Brendan Fallis About this episode Hannah Bronfman and Brendan Fallis join Haley to discuss trust fund myths, putting their kids on social media, all of their revenue streams as content creators, money mistakes, and so much more.
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Transcript 10,262 words · 7 speakers
Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.
0:00 Haley Sacks? Okay, we all love to romanticize being your own boss, but even when you have a team, you still end up being the bookkeeper, the marketing department, and the person rearranging appointments at 11:00 PM. And that work isn't just annoying, it is expensive. And it's especially taxing for businesses that run on appointments. So if you own a business that takes bookings, this one's for you. Gloss Genius is the system that runs the operations for you behind the scenes. Scheduling, payments, admin, handled automatically. Payment processing is a flat rate with zero hidden fees. And check out rebook's clients on the spot. Clients can book in seconds too, so there's no login or separate app necessary. So you actually get more appointments.
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2:07 Speaker 01 By the way, I, we love chatter. If you don't have a Reddit thread on you, you're pretty much irrelevant, in my opinion. You know, like you need people talking about you or like you're not doing it.
2:15 Speaker 02 This is gonna make the reddits light up.
2:18 Speaker 01 No, light it up.
2:19 Speaker 02 Light it up, baby.
2:21 Speaker 01 Light it up more, it's like.
2:21 Haley Sacks? See this?
2:24 Haley Sacks? This is Financial Tea.
2:29 Haley Sacks? Welcome back to Financial Tea, the podcast where I teach you how to build wealth with a side of market drama, money scandals, and of course, financial pop culture. And today, we have two incredible guests, Hannah Bronfman and Brendan Follis. Okay, low key, you guys started my career because I was obsessed with you both. And then when I was thinking about adding a manager to my team, I was like, of course, I have to work with Gabe because you would always post about Gabe and I like pursued him.
3:04 Speaker 02 Love that. I also had to pursue Gabe.
3:06 Haley Sacks? Really?
3:07 Speaker 02 He only had eyes for Brendan.
3:10 Haley Sacks? But first, let's get into the MDJ Market Report. Welcome back to the MDJ Market Report, sippers. These are the three stories you need to know to see where the money is moving this week. Okay, the first thing that we need to talk about are The Devil Wears Prada salaries, the numbers just dropped, and Meryl Streep, Anne Hathaway, and Emily Blunt each earned $12.5 million to return for the sequel. And they did it through a deal that really resembles the deal that the cast of Friends did, because it was a favored nation's deal, which means that everyone got paid the same number. And this is very strategic for talent, because when you align your interests in that way, you strip the studio of their most powerful
3:53 Haley Sacks? weapon, which is the ability to like play stars against each other. So it really is a masterclass in collective bargaining. And just funny that last week, Lisa Kruger was telling us that this is how the Friends cast was able to make so much money. And also, this is obviously how stars of Devil Wears Prada are making a lot of money, too. But what's crazy here is the Meryl Streep of it all, because she could have commanded significantly more. Like, there is no movie without her, but she still took less to make sure that her co-stars ate too. And they didn't stop there. Obviously, they got a little bit of the back end. They negotiated box office bonuses on top of their flat fees. And seeing as the film has already earned $433 million globally since its release, up from $300
4:37 Haley Sacks? And $26 million for the original, which was made on a $40 million budget. If this run continues, each actress could see an additional $20 million. But also on this press tour, Meryl Streep has been talking a lot about money. And she said that in the original movie, like when she was negotiating that contract, she walked away. She was like, I actually don't want to do this movie. Like I am good. I can retire. I'm going to go to the beach. And unless you double my salary and they were so eager to have her that they did. And so, and she said that was like the first time in her life that that had ever happened. And she realized the power that she had as a negotiator. So this is really also a kick in your ass to ask for more.
5:21 Haley Sacks? Seriously, negotiation is the most lucrative skill that you will ever learn. You will shock yourself with what you're able to get simply by asking, whether it's your credit card company, negotiating medical bills, and of course, with your employer, ask for more. Oh, and I also want to say that they all got a piece of the backend too. And the movie has absolutely blown through all of its records. So they're each going to get an extra $20 million in bonuses. Okay, now let's talk about peptides, baby. I know it's sort of weird that we haven't talked about peptides yet on this show. But yes, GLP-1s are definitely a big part of the conversation. They are making everyone skinny, but they are also low key restructuring the entire American economy.
6:04 Haley Sacks? And I went into a black hole this week learning about it. And we need to discuss the data because seriously, these diabetes treatments have gone from like cultural moment to full blown economic force. One in eight adults, you guys, already takes one. And as of January, they released the pill for $149 a month instead of $1,000 for the shot, which in four months has netted 2 million prescriptions from 70,000 pharmacies, which is the strongest GLP-1 launch in history. But what's crazy is that these drugs have a huge ripple effect on the economy. Like GLP-1 users cut grocery spending by 10%. Chips and baked goods are down.
6:47 Haley Sacks? Vegetables are up 38%. Doritos has losses and Morgan Stanley find that GLP wants also reduce alcohol consumption by up to 75%. And the top 10% of drinkers account for 60% of all alcohol sales. So you do the math. And then there's airlines. Airlines could literally save a combined $580 million in fuel if America gets 10% skinnier. So Goldman Sachs said all of this could add 0.4% to US GDP and by 2035, 31.5 million people could be on these drugs, which would save $264 billion in healthcare costs. Like this all just really blew my mind because we think of drugs as healthcare stories.
7:31 Haley Sacks? But if that drug changes what people eat, drink and weigh on a plane, it's also a macroeconomic story. So like the question isn't really like which industry is getting hit. It's which ones are ready to get hit. Other topic very close to my damn heart, wealth taxes. You guys, I've covered this a lot on Mrs. Dow Jones. They're having a moment. New York just announced one. California has a billionaire tax headed for the November ballot. We're seeing like every celebrity and their mom move to Florida to avoid one. Bernie, of course, always Bernie proposed one federally. And politicians love these taxes. I feel like they're, it's a really good thing to just like put in your campaign.
8:11 Haley Sacks? People are going to vote for you if you talk about it, but I just want to actually break down what happens when you try to collect on them. So, okay, in New York, for example, Mayor Mamdani posted a video outside Ken Griffin's $238 million penthouse, announcing an annual surcharge on properties above $5 million owned by non-NYC residents. And it got 470,000 views. Griffin, of course, called it like creepy and weird and said, New York doesn't welcome success. And announced that Citadel is expanding in Miami instead, which would potentially be them pulling back on a $6 billion redevelopment
8:52 Haley Sacks? that would have created 6,000 jobs. Okay, now let's talk about in California, what's happening as they try to do this. So in California, they're trying for a one-time 5% tax on billionaire net worth, which is estimated to raise $100 billion and it just got 1.6 million signatures, which was double what it needed. But then Larry Page, Sergey Brin, who founded Google, and Mark Zuckerberg left. So that is an estimated 38% of California's billionaire wealth just out the door, which would potentially cost $4.5 billion a year in lost income tax and wipe out the gains of this before a check is even ever written. And here's the thing, the story has also played out before, like in 1990, 12 European
9:36 Haley Sacks? countries had wealth taxes, but today only three do. And then if you look at France, they lost 42,000 millionaires before scraping their wealth tax in 2018. Or look at Norway. Norway raised its wealth tax and more ultra wealthy households left in 2022 than in the previous 13 years combined. So yes, like I said, politicians love the idea of a wealth tax. I think it really does like help you get votes, but history is less enthusiastic, which is why I'm really skeptical of them. Like I definitely think that we need to tax the ultra-rich more heavily, obviously, but a wealth tax has historically failed to generate
10:16 Haley Sacks? revenue in other countries. So I would rather like, I don't know, maybe just reform the tax code, like have a tax on anyone with over a billion dollars in assets, maybe like close some of the loopholes billionaires used to stay rich. I just think it never works. And so I don't understand why we're even going down this road when there's so many other solutions that could get us to more income equality. Okay, let's go into our episode now. This was one of my favorite episodes we've done. Hannah and Brendan were amazing. I'm really excited for you to hear it. Stay rich.
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11:52 Haley Sacks? Before we start the show, before we jump into the real interview, we always ask three rapid fire questions. So the first thing is what gives you the financial ick?
12:01 Speaker 01 I can tell you what gives you the ick. Just reviewing finances, that's your ick.
12:06 Speaker 02 I really do not like to review the finances. I love to go to lunch with my financial team, but I do not like to have-
12:14 Speaker 01 While you're there, you're just talking about having lunch with life and what's- You love talking about what's upcoming that's going to power more finance.
12:20 Speaker 02 Yes, exactly.
12:21 Speaker 01 But you don't like reviewing foundational elements of finance.
12:25 Haley Sacks? You like the culture around reviewing your finances, but you don't like the nitty gritty.
12:30 Speaker 01 No, she likes the tossed salad and the caviar that comes with reviewing the finances.
12:35 Speaker 02 I also know another financial ick that I have. I hate raising money.
12:41 Haley Sacks? Oh. Which is so crazy because you're a VC.
12:43 Speaker 02 Well, not anymore.
12:44 Haley Sacks? Oh, okay. So we got to get into that.
12:46 Speaker 02 Yeah.
12:46 Haley Sacks? Yeah, that's hard. We were just talking about that. Like I'm on my book tour and I am asking for many favors and it can feel very icky. Like it's-
12:53 Speaker 02 So icky.
12:54 Haley Sacks? There's an art to it.
12:55 Speaker 02 Really is. And for those who don't have it, it's a really hard thing to learn.
12:59 Haley Sacks? And you think that it is sort of you have it or you don't?
13:01 Speaker 02 I do.
13:01 Haley Sacks? Okay, I love it.
13:02 Speaker 02 Yeah.
13:02 Haley Sacks? What about you, Brendan? What's your financial ick?
13:07 Speaker 02 I know what yours is.
13:08 Speaker 01 Oh, yeah, tell me. I'm ready.
13:09 Speaker 02 You just do not like when something is not optimized. If you heard any friend say that they booked a trip without using points or without, you know, doing their plus points for the upgrade or booking, looking at multiple sites.
13:25 Speaker 01 Optimization.
13:26 Speaker 02 It's really, it hurts your soul. The non-optimization, it hurts you inside.
13:33 Speaker 01 It bothers me a lot. Just that people don't even explore the intent of betterment in finance. You know, started to date Hannah, then I'm like, we need to like, figure out what's going on behind.
13:48 Speaker 02 Yeah, yeah, yeah.
13:49 Speaker 01 Like, where's your foundational elements? And it's like, I started to look into all these companies and like, there was just no optimization. It's, she'd inherited it from, you know, dad or grandpa or whatever in accounts. And like, I just always said to her, I'm like, we're younger, we're smarter, and we know more people at this point who are younger and brighter. Like, let's go explore working with those people. And we've restructured our whole team.
14:13 Speaker 02 And also, it took us a long time to even get to the team that we are now super happy with.
14:18 Speaker 01 We failed along the way.
14:19 Speaker 02 Yeah, we had major mess ups.
14:22 Speaker 01 Major mess ups.
14:23 Speaker 02 While trying to get to the best possible place.
14:26 Speaker 01 Intros from other people, like-minded, who introduced us to people who are good people, but bad at that section of their job.
14:35 Speaker 02 Wow, okay, that's crazy.
14:36 Speaker 01 And put us in a very bad financial position when we were crushing it. Twice.
14:41 Speaker 02 Wow.
14:42 Speaker 01 Two different sections of our finance buried.
14:46 Speaker 02 What exactly happened?
14:50 Speaker 01 It's like tough to even say, but like.
14:52 Speaker 02 Well, one scenario.
14:53 Speaker 01 We ended up in hundreds of thousands of dollars worth of debt.
14:55 Speaker 02 Yeah.
14:55 Speaker 01 Which we had to swim out of for two years.
14:57 Speaker 02 Which we're now out of.
15:00 Speaker 01 Dude, investing in things and moving money to things that we were just like trusting the process and not, it's a bit our fault too, because you're not doing all the due diligence, but that's why you hired someone to trust them. Like, I don't have time to, I mean, we should have time and you should read into it and like, claw to be super, AI is super helpful in this scenario because like, you could vet things more and understand like, the jargon. But, you know, we were just pumping incoming and we were having great years and like, some of the best years of our life. And then we ended up with like, almost a million dollars worth of debt. We're like, what the fuck happened?
15:35 Haley Sacks? Because they were just investing it in companies that were going to zero?
15:38 Speaker 01 And tax structures that didn't work.
15:40 Speaker 02 The tax structures, I think, were more, more about that. I mean, you can get losses on companies that you invest in and it doesn't necessarily really hurt your bottom line. But there was also a scenario where I got gifted a stock through a family member and we basically came up on 800K. And then our money manager at the time didn't really ask us or have a conversation with us around if we wanted to sell it or get out and like, keep it. And the stock ended up going to zero. So we missed out.
16:19 Speaker 01 Basically, her dad invested in it early.
16:20 Haley Sacks? We were gifted at 800K, so that's also the fair market value for taxes, everything. And then it went to zero? Wow.
16:29 Speaker 01 Bad.
16:30 Speaker 02 Really bad.
16:30 Speaker 01 And this guy was like...
16:31 Speaker 02 I mean, listen, it was 800K that...
16:33 Speaker 01 He was like...
16:33 Speaker 02 It was 800K that we never had.
16:36 Haley Sacks? Yeah, 100%.
16:37 Speaker 02 So, that was the only mindset I could end up like, living with. But, yeah.
16:43 Speaker 01 But her dad like, invested in, early in some companies and he'd always, super, I want to do the same thing for our kids. You break that up amongst your children. So if it goes, if it works, and you know, he exited.
16:54 Haley Sacks? Everyone gets a little bit.
16:54 Speaker 01 Yeah, so he gave a piece to everyone, which was like, so awesome. And he got in really early, it was awesome. And we were like, I remember, we were in the Peninsula Hotel in Paris on like a, we were DJing for a car, you were DJing for a car.
17:08 Speaker 02 Brendan had just told me at the airport, I couldn't buy a bottle of water.
17:11 Speaker 01 I was like, what? We're flying business, someone paid for it. We're two minutes away from getting free water on the plane. Like, yes, we don't even spend $6 right now. Like, that's how bad of a situation we were in. Don't buy the water. And she's like, I'm so thirsty. I'm like, it's only a couple of minutes. You're so thirsty, couldn't even get a water.
17:29 Speaker 02 We were flying business. There was gonna be a bottle there. I was like, oh, my God. So then they woke up like the next morning in Paris. I was DJing for the, um, the Quail, which is like the car show that the Peninsula owns. So there's one in California and there's one in Paris. And I had DJed both and we were in Paris for the Quail.
17:48 Speaker 01 And then Hannah's like, let's order a room service. And I'm like, no chance. We had to put our card down. Oh. So like it, well, the brand wasn't paying for incidentals. And I'm like, a green juice is like 30 euros. You're like, no chance. And then while we're lying in bed, her dad calls like, have some great news. And I was like, let's get breakfast. I love it. And we ordered breakfast. Little did we know, we're still in the hole from that breakfast.
18:09 Haley Sacks? Yeah. But that's what's so interesting too about your lifestyle is that even, and I feel like this is true of influencers in general and not specifically you guys, because I know that you're on top of your finances now and things are really, like, have improved so much since then. But there is so much like luxury in what you're presenting, what people present, but then like the reality behind the scenes of what's happening can be so different. So like you could see you in an amazing outfit at the Peninsula in Paris DJing and have no idea that you're actually in debt.
18:42 Speaker 01 Yeah.
18:42 Haley Sacks? How much would you say that you spend on clothing per year?
18:45 Speaker 01 Oh, me? Less than a grand.
18:48 Haley Sacks? Less than a grand?
18:49 Speaker 01 I don't.
18:49 Speaker 02 Brendan doesn't buy anything.
18:51 Speaker 01 Cause it's all incoming through the work we do. So to me, it's just a game of how can I make, like I haven't paid for one thing. I got this shirt last week from Beckham. These are rag and bone.
19:00 Haley Sacks? Yeah.
19:00 Speaker 01 Free converse.
19:01 Haley Sacks? Yeah.
19:02 Speaker 01 Oh, I buy these socks traditionally on Amazon twice a year.
19:06 Haley Sacks? But it's very different as a girl because it's like
19:07 Speaker 01 My underwear was free.
19:08 Haley Sacks? Your image is so meaningful, like so much of what we like.
19:12 Speaker 01 But I do all the dressing and I do all the gifting. So the PDFs come all week. All the shop my links and I go through it all and I order and then we do try ons once a week.
19:21 Speaker 02 Yes, it's a very.
19:22 Haley Sacks? You really got her on a schedule.
19:24 Speaker 01 Yeah.
19:25 Haley Sacks? Hannah. Hannah and I are both type B.
19:28 Speaker 02 You're like blink if you're okay. Things are okay. Don't worry.
19:32 Haley Sacks? We do fast. We go through the PDF.
19:35 Speaker 01 Well, it's pretty chill. We smoke a joint.
19:37 Haley Sacks? Yeah.
19:38 Speaker 01 One of us smokes a joint.
19:40 Speaker 02 I have to get in the mood to try things on.
19:41 Haley Sacks? Yeah, exactly.
19:42 Speaker 01 Every time we're like, why don't we do a piece of content around this, which we say every single time.
19:46 Speaker 02 Every single time.
19:47 Speaker 01 The best content and it's the funniest looks or outfits and like you're wearing full leopard print or like.
19:52 Speaker 02 But I mean, there are obviously like my seasonal Zara purchases.
19:57 Haley Sacks? Yeah, I like that. I've like shopped your Zara pics before. I like that you have to do high, low.
20:03 Speaker 02 Yeah.
20:03 Haley Sacks? I say that a lot to women too, because it's like, you know, there's so much data around looking good in the workplace. How it will increase your income up to 30%. I love that. And people, but I think are like I had, I was on with Stod Guy and he was like, yeah, that's why you should buy an investment piece. And I was like, okay, but like not everyone can afford like those like $1,100 Brunello trousers. Like unfortunately, we do need to make go. Okay, so research says that our relationship to money is solidified by the time that we are seven years old. And I think it was Hannah, you were talking earlier about how growing up, like money wasn't really talked about. I grew up the same way with wealth, but where it was just something that was not on the table as a discussion.
20:45 Speaker 02 Yeah.
20:45 Haley Sacks? But how we grow up around money really affects us. So for both of you, what did wealth look like in your households growing up? Like maybe you could speak a little bit more to that.
20:54 Speaker 02 So I guess wealth in our household, my, first of all, my parents divorced when I was two years old.
20:59 Haley Sacks? Young.
21:00 Speaker 02 Very young and I didn't even know about alimony until I was. Yeah, until I was like 18 because that's when I actually saw my parents fight about money for the first time.
21:13 Haley Sacks? Oh, because it was off the. Now that I was Cheryl, yeah.
21:17 Speaker 02 Well, now that I was out of high school, you know, things were, yeah, there was a renegotiation. And so that was really the first time I even understood that my father was bankrolling my mother's lifestyle and, you know, my entire life. I mean, I obviously knew that I was on my parents payroll. But like, there were certain things that, you know, I know, I like, for instance, I had a cell phone when I was 14. I got my first phone and I almost felt like my phone was on a family plan. Like, it was very much like they were all, every, everyone had eyes on at least my sort of thing.
21:58 Speaker 02 I never, I got my first credit card when I went to college and that was like the, the blue Amex where I had an allowance. It wasn't like unlimited spending. That's also when I learned my dad's credit card number by heart.
22:13 Haley Sacks? Yes.
22:13 Speaker 02 And that was really what supplied my shop up addiction in college very early.
22:20 Haley Sacks? Yes.
22:20 Speaker 02 But, you know, I would always have to ask my parents for cash if I was going to go out on the weekend. But then at the same time, also, you know, when I was in lower school, my dad would come and pick me up every morning from my house to take me to school with his driver. And when the days that he couldn't pick me up to go to school, his driver would pick me up to school. So it was like I had a driver that took me to school. I knew that my dad had these, you know, was a high powered executive in the entertainment industry. But like, I didn't have a credit card. I didn't have a cell phone.
22:51 Haley Sacks? Yeah.
22:51 Speaker 02 And that was totally, that was totally normal then.
22:54 Speaker 01 I had a driver who drove a bus.
22:58 Haley Sacks? And then Brendan, you were, you grew up in Canada.
23:00 Speaker 01 Yeah.
23:01 Haley Sacks? So tell us more about that.
23:03 Speaker 01 I grew up in a very small farm town in Canada, still 2,500 people, one stoplight. That's my, uh, my parents still live there.
23:10 Speaker 02 Everyone in this room just looked up at you.
23:12 Haley Sacks? Oh, that's cool.
23:15 Speaker 01 It is cool to someone. No, I really appreciate my roots and that I'm from there. Happy to not currently reside there, but beautiful little place in the world.
23:27 Haley Sacks? But Brendan, you came into the relationship with Hannah with much more financial confidence than it sounds like you had Hannah. So where did that come from?
23:34 Speaker 01 I mean, I think mine just comes from, I don't. Come from a family who had the means that your family had. And we also just, we discussed money a lot in a lot of negative ways. My dad continues to hold money over my mom's head. Like it's everything. It's insane.
23:57 Speaker 02 Cause he works, she doesn't, or they both work?
23:59 Speaker 01 He works, she doesn't, but he told her to stop working when she would have liked to. But it was an era back in that day. It was like cool to, or not cool, but like you were more successful if your wife didn't work or whatever. And she was, and by the way, being a mom is a full time job. We all know that, or being a parent. But you know, she did a fantastic job raising us and I'm super thankful for it. But you know, money was like a, a negative thing. I've watched my, my dad cut my mom's credit cards up.
24:30 Speaker 02 Wow.
24:31 Speaker 01 In the last five years.
24:32 Speaker 02 So in your relationship though, do you both have money that the other person doesn't have say over? Like, how do you manage your finances? Who would you say?
24:41 Speaker 01 No, we're all.
24:41 Speaker 02 No, we're all connected.
24:43 Speaker 01 We, at one point, we had separate bank accounts for a while because I was largely on my decision. Because I was, I, when I started making my own money, I was just so into my, I'm my own, seeing my own success in a pillar. And I was trying to hit goals and understand if I get out of debt. I also didn't like how she spent at the start of our relationship because you know, her spending was just different than mine. I'm super frugal, as we can tell from this convo.
25:11 Speaker 02 Yeah.
25:11 Speaker 01 And I just couldn't let go of the idea that I could share. Like, I didn't want someone else to bring me into a zone that I was controlling that I was in, you know? But then, whatever, after a while, I was like, this is so, there's so many tax advantages to being together and claiming income as a married couple and all these things.
25:30 Speaker 02 We've also been together for 14 years. So like just for context, you know, I think like probably the first seven years, eight years, we had separate finances. And then in the last. Seven years we've had joint finances.
25:50 Speaker 01 Probably true. I don't know.
25:51 Speaker 02 Or maybe it was like the first five years we did it and the last nine years we have or something.
25:56 Speaker 01 Also, like, we own a company together. All our income goes into one holdco. You know, it's like just everything. And then we can, all our expenses, you know, there's so many write offs being entrepreneurs.
26:07 Speaker 02 Yeah.
26:07 Speaker 01 So we, it just makes so much sense.
26:10 Speaker 02 Yeah.
26:11 Speaker 01 And we're, our spending is super similar now. I mean, as you have the ink, I go over every credit card statement line by line and look and see, but she'll be like, oh my God, I didn't even, you know, it's like.
26:21 Speaker 02 But I've been reformed.
26:22 Speaker 01 Yeah.
26:23 Haley Sacks? It sounds like you had a really positive impact.
26:25 Speaker 02 People say people can't change and I like to say that is not true. If someone wants to change, they will.
26:30 Speaker 01 A hundred percent.
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27:03 Speaker 03 This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs.
27:33 Haley Sacks? So on financial tea, though, we do love a legal safety net. So how did you guys approach the prenup conversation?
27:40 Speaker 01 Hmm, we did a postnup.
27:41 Haley Sacks? Oh, wow. Okay. So what'd that look like?
27:43 Speaker 01 Because we got married. For my visa. So I was, my visa was running out and I was like, listen.
27:50 Speaker 02 Can we back up? Brendan proposed.
27:53 Haley Sacks? On a boat and then you hurt your teeth. Obviously I was a follower at the time.
27:58 Speaker 02 Oh, my God. Yes.
27:59 Haley Sacks? I remember the whole thing. I was so excited.
28:02 Speaker 02 Wow. Okay. So yeah, so Brendan.
28:04 Haley Sacks? We have a real relationship, but also so parasocial.
28:08 Speaker 02 Brendan proposed, there was a trauma, but then, but then we realized that obviously we wanted to get married. I wanted Brendan to have a visa. I knew we were going to be together for a long, it wasn't like we got.
28:20 Speaker 01 I had a visa.
28:22 Speaker 02 Oh, sorry, for the green card.
28:23 Speaker 01 And I was like, hey, I can go apply for another one of these. Fine to do it, but like, we're gonna, we're already engaged.
28:31 Speaker 02 Yeah, we're already engaged. So.
28:33 Speaker 01 We might as well get the green card process going.
28:34 Speaker 02 But that also meant that there was going to be 100 days where we couldn't leave the country, where he couldn't leave the country. So I was like, looking at the calendar, because originally we were gonna, you know, prolong the situation. But then I was like, you know what, the only next 100 days that we have is like, in this quick block.
28:54 Speaker 01 But I can't leave.
28:55 Speaker 02 Yes. So we got engaged in, in August and we got married at the courthouse without telling anyone in our family in October.
29:06 Speaker 01 Because our lawyer, my immigration lawyer was like, listen, you can tell your family, but a lot of times, more than half the times, you tell people you got legally married, they're like, why are we even having a wedding? And it's just like paperwork, but parents get obsessed with it and they're like, you had a wedding? I told my friend that she did it right after us, told her parents and they were so upset. And I was like, I told you.
29:26 Haley Sacks? Yeah. So wait, when did they find out?
29:29 Speaker 01 We told them after.
29:30 Speaker 02 After our wedding.
29:31 Speaker 01 We got married at 10:00 in Morocco and we told them at like 10:30 and they're like, what? But they're so happy you're celebrating, you know?
29:37 Speaker 02 I don't even, it was in one ear and out the other.
29:40 Haley Sacks? But I'm surprised that your dad was not like, Hannah, you're already married. Here's the prenup.
29:44 Speaker 02 We knew we were gonna get a prenup, but it was actually a postnup.
29:49 Haley Sacks? Oh, okay.
29:49 Speaker 01 Because he had already legally been married.
29:51 Haley Sacks? You did it in the time before the big wedding?
29:53 Speaker 02 Yes.
29:53 Haley Sacks? So you got legally married and then the postnup happened in the time between October and when the Morocco.
29:59 Speaker 01 No, we did the postnup post wedding.
30:01 Haley Sacks? We did?
30:02 Speaker 01 Yeah, post our real wedding.
30:03 Haley Sacks? Yeah. Oh, wow. We did? Not before?
30:07 Speaker 02 Regardless.
30:08 Speaker 01 No, he was like, no, this is so nice.
30:12 Speaker 02 Yeah.
30:12 Speaker 01 We also, most people would be like, we're married, like, not most people, but if you were in the relation for the wrong reason, you'd be like.
30:17 Speaker 02 Which is a huge red flag.
30:19 Haley Sacks? Yeah.
30:20 Speaker 02 Brendan and I were always very, very communicative and we knew from the beginning that we were going to have a post-nup, pre-nup situation.
30:28 Haley Sacks? Yeah.
30:28 Speaker 01 And after we got engaged, we redid like our wills and situation and like, so you know what the other person's about. So I was like, I don't even want a dollar. Like I'm, and they're like, you have to like, you can't just take nothing. Like you have to take a dollar. I'm like, why? You know, like I'm fine out here working for myself.
30:46 Speaker 02 So it was a whole thing and we just did it with, with our lawyer and yeah, it was, we did it with my family lawyer.
30:53 Speaker 01 Yeah.
30:54 Haley Sacks? Did you have any like clauses that you're, like, what was like the breakdown?
30:57 Speaker 01 The post-nup?
30:58 Haley Sacks? Yeah.
30:59 Speaker 01 No idea.
30:59 Speaker 02 I don't know. It seemed very straightforward.
31:01 Speaker 01 We probably need to redo it now. We have kids and.
31:03 Haley Sacks? Yeah. Yeah. People, Beyonce has redone her pre-nup multiple times.
31:08 Speaker 02 Oh, really?
31:08 Haley Sacks? With J C. Yeah.
31:09 Speaker 02 Yeah, we should probably look into that. Something we haven't refreshed in a long time. Definitely not since having Claude. Maybe we did something under Peston.
31:16 Speaker 01 No, I think we just did the, redid the will.
31:18 Haley Sacks? You gotta get the will and the life insurance going while we have kids.
31:21 Speaker 01 Life insurance is cranking.
31:22 Haley Sacks? Huge.
31:23 Speaker 02 Well, we have the life insurance. We have, we have the will. We have his, like the kids guarantors or whatever.
31:29 Haley Sacks? The kids guarantors. Wasn't that what they're called?
31:31 Speaker 01 Yeah.
31:32 Haley Sacks? The kids.
31:33 Speaker 01 No, if we pass away.
31:34 Speaker 02 If we pass away, they, we have.
31:35 Haley Sacks? Is it called the guarantor? Oh, I'm not of my nephew.
31:38 Speaker 02 I think so.
31:39 Haley Sacks? Yeah, I feel really good about it.
31:40 Speaker 02 My cousin is ours.
31:41 Haley Sacks? I'm always like, this would be like a Sandra Bullock movie. If like you both died and then I got my nephew and like I have to like start over like with this baby like going through the grief.
31:49 Speaker 01 Sandra Bullock, actually.
31:50 Haley Sacks? Thank you so much. Your kids are in a lot of your content and I, you were just in this big Tom's campaign. It's everywhere. And so first of all, where do you draw the line between family and business? And also, how do you handle?
32:05 Haley Sacks? Your kids as basically employees, I would say.
32:08 Speaker 01 Yeah, we employ them.
32:09 Haley Sacks? Okay, wait, so do they get paid for your contacts?
32:11 Speaker 02 Yes, but before we go into, and I'll let you kind of spearhead the financial side of this conversation, I just want it to be known that I do struggle with the fact that we fully have jumped in and our kids are on social media, on our social media. In the beginning, it felt like, because I had shared so much about our journey and our struggle
32:36 Haley Sacks? The IVF.
32:37 Speaker 02 to get pregnant.
32:37 Haley Sacks? Yeah.
32:38 Speaker 02 And then when we finally did.
32:41 Haley Sacks? Yeah.
32:41 Speaker 02 It just felt like, of course I needed to, yes, the Barack, yeah.
32:45 Haley Sacks? Yeah.
32:46 Speaker 02 Of course I needed to share my kids with this community that was so invested.
32:52 Speaker 01 And a lot of times people comment on it, like even on my YouTube, whatever, like, thanks so much for sharing. Like, it's so polite.
32:57 Speaker 02 Yeah, but at the same time.
32:59 Speaker 01 For sharing your kids' lives with us.
33:01 Speaker 02 Like, people, people really love, and they have so many internet aunties, and it's amazing. But at the same time, I'm very aware of the dark side of the web and all of the predators and all the things and all the things that I now have subjected my kids to, whether I like it or not, that exist with putting your kids online. So it's something I struggle with all the time.
33:24 Speaker 01 There's definitely some weird moments, like we landed in Nice, like when Preston was two, and someone was like, Preston!
33:29 Haley Sacks? And you're like, whoa. Yeah.
33:32 Speaker 02 So we have to talk to our kids about safety and code words and how we.
33:36 Speaker 01 We gotta like prep our au pair about like, if people come up, they might not know.
33:40 Speaker 02 Yeah.
33:40 Speaker 01 You know, like you gotta have a sense.
33:42 Speaker 02 So we take a lot of precautions and safeties in our own home that we talk to our kids about to prepare them for these types of scenarios. But it's not lost on me that I know, you know, it is a really big topic and it's one that I feel like I'm a living guinea pig for.
34:00 Speaker 01 We don't specifically put them on there to monetize. Like, it's not like, there's definitely like, we're not like, hey, do this, like, act so you can get.
34:11 Speaker 02 I don't want to be filmed right now. I'm like, oh, okay.
34:14 Haley Sacks? But you got more views when they're in it, though. Like, I feel like Claude's gone super viral.
34:18 Speaker 02 Claude is a viral girl. She's just, I mean, the attitude she gives is like no other.
34:23 Haley Sacks? Yeah, yeah, yeah.
34:24 Speaker 01 But again, those are like not planned moments. You just happen to catch them. It's not like you're like out there trying.
34:29 Speaker 02 No, she just loves her reflection. So I usually just like put the camera up and let her do her thing.
34:34 Haley Sacks? She's such a diva.
34:36 Speaker 02 Whether she's peeling her egg quietly to herself, you know, that was like such a random. I was like, I just needed her to be engaged while I was getting other things done, you know? She was just looking at herself peeling her egg. It was unbelievable. People are like, she peels an egg better than I do. Okay, but anyway, you can go into.
34:53 Haley Sacks? Okay, tell us about the custodial Roth IRA. Because when your kid works for you or has a job in general.
34:58 Speaker 01 You can write off the certain amount of money by putting.
35:00 Haley Sacks? You couldn't, yeah, creep, but basically a Roth IRA for them, but it is.
35:03 Speaker 01 Yeah. And then it's just, I mean, it's earning interest year over year. It's incredible.
35:08 Haley Sacks? It really does. Like, you can.
35:09 Speaker 01 So we pay them, we max it out for them each year because they're in a lot of our content. And then like for the TOMS campaign alone, it just maxed it out in one thing. So it was perfect.
35:17 Haley Sacks? That's amazing. That's so, I mean.
35:20 Speaker 01 15K.
35:21 Haley Sacks? Yeah, I think by the time they're 60, they're gonna, and that is all tax-free wealth because custodial Roth IRA is the same as a regular Roth IRA, but it is for kids who are under 18. The parent manages it, sets it up for them, invests it, most importantly. And you can start it as early as zero years old. But of course, no one has a job when they're zero. So it really is the kids that can do that are like, if your parents are influencers.
35:47 Speaker 02 Right, right.
35:47 Haley Sacks? Or, you know, your Beyonce's kid and, you know, I think.
35:51 Speaker 01 You're Northwest.
35:52 Haley Sacks? You're Northwest saying on the song Glory, when she was like two days old, she cried on it. Like.
35:58 Speaker 01 Our kids are in a, like, you know, we would have no problem backing up that it's a real income.
36:04 Haley Sacks? 100%. Yeah, yeah.
36:05 Speaker 01 I don't feel like I'm just like using a loophole. It's like, no, that is there for this. And we're lucky that the internet put us onto it. And then we brought it to our accounts. They were like, for sure.
36:15 Haley Sacks? Yeah, it's also crazy too, how much growth you can have just by starting early, like.
36:20 Speaker 01 100%.
36:21 Haley Sacks? You know, whatever you guys are able to create.
36:23 Speaker 01 Interest compounding year after year after year for the next 19, 20 years.
36:26 Haley Sacks? It's so crazy.
36:29 Speaker 01 So then, you know, a friend of mine who I knew in New York who'd like sleep in my bed and we're like, he was, he had like, not a lot of money, but he was a great guy. But he didn't get his, like, couldn't use any of his money his parents left till he was 50. Which I kinda like, like, giving someone money when they're 21 or whatever.
36:49 Haley Sacks? No, I think it destroys the ambition.
36:51 Speaker 02 I couldn't do that.
36:52 Haley Sacks? Yeah, I didn't have any.
36:53 Speaker 01 I think it should be late, like, you have to show and prove and make, make it. And then, like, that is a nice.
36:58 Haley Sacks? Yeah.
36:59 Speaker 02 We've continuously moved back the years for, for my small trust that I have.
37:05 Speaker 01 Yep.
37:06 Speaker 02 That my parents, that my grandfather, my grandmother, actually, let me correct myself. My grandmother.
37:11 Haley Sacks? Yeah, you heard her, that's a female. But speaking of that, like, you know, I remember once I was talking to you and we were talking about trust and generational wealth and you were saying that, like, everyone thinks that you're just using your, your family's money to get all these things. And it's like, no, you actually haven't.
37:33 Speaker 01 This is like a big.
37:34 Haley Sacks? Can we clear this up?
37:35 Speaker 01 Yes, this is, and I would love to, because people.
37:37 Haley Sacks? Okay, let's.
37:37 Speaker 01 By the way, I, we love chatter. If you don't have a Reddit thread on you, you're pretty much irrelevant, in my opinion. You know, like, you need people talking about you, or like, you're not doing it.
37:46 Speaker 02 This is gonna make the reddits light up.
37:49 Speaker 01 No, light it up.
37:50 Speaker 02 Light it up, baby.
37:51 Speaker 01 Light it up more, it's like the best free PR of all time. We get people all the time, like, we can take your reddits down, like, a thousand a post. I'm like, this is the greatest PR, I would pay to for more of them, this is incredible.
38:00 Speaker 02 I don't read them.
38:01 Speaker 01 Yeah.
38:03 Speaker 01 Yeah, Hannah, you cannot read them.
38:05 Speaker 02 I don't need to.
38:08 Speaker 01 I read all of them. It's hilarious. Anyway, when we started dating, Hannah was living in this old synagogue at Rivington in Ludlow. It was a shit apartment. We came back from Miami after meeting, and she's like, come over. I came over, I was like, damn, this girl's killing it, like, this is amazing.
38:24 Speaker 02 My first apartment out of college.
38:26 Speaker 01 Which you didn't even see, your friend went and saw.
38:29 Speaker 02 My best friend, I was in the middle of finishing up my senior project and I like literally needed to move into a place as soon as I left school. I had my best friend go look at this apartment, sign the like, send me the lease, I signed the lease. And my dad was going to pay for like the first year and a half of my rent out of college.
38:49 Speaker 01 Yeah. So then I go there and I'm like, place is sick. No, like I just met her in a nightclub. I was like, oh man.
38:55 Speaker 02 Yeah, like I really locked up.
38:56 Speaker 01 Are we on the jet next week? Like what's up? You know, and I have like no idea about her. And then I started having friends over and they're like, sick, like this place is crazy. Like what's this person do? And I'm like, not much. So then I'm like, she DJ sometimes and like, she's like trying to get this rare seed library going with her like old gay friend. You know, like up to some entrepreneurial things. Anyway.
39:17 Speaker 02 Listen, if you're in the food world, you know how important it is to, you know, really save those seeds. Heritage seeds. We don't have a lot of them. Everything's a jam.
39:26 Speaker 01 After a bit, I'm like, people are coming over and like, there's no answer. And I'm like, this is a bad look. Like, so then I'm like, where, where's the money coming for this? What's happening? So then I start digging in a bit. And then it's like, oh, well, I get a draw monthly from my trust. And I'm like, why? She's like, well, that's what they do. That's a trust for four. I'm like, no, not really. She's like, yeah, like how else would I like have money to go like do these things and like buy shoes and stuff like you'd work. Why don't you live like us for a bit? And she's like, what does that even mean? I'm like, here's what we're gonna do. And that's when it all started.
39:59 Speaker 02 This is the rom com I need, by the way.
40:01 Speaker 01 This is like, let's look under the hood and see what's happening. So we moved into the coolest apartment at 50 Spring, which was now shout out Kava, cause it's there down, but it was a cabin in the back.
40:12 Speaker 02 For your business. I remember Ava Donaldson worked with you. Yeah, yeah, yeah. Ava Donaldson. Shout out to Ava.
40:19 Speaker 01 So we moved in there, which was a better financial decision. Now we're obviously splitting rent. So it's good, but then it was like.
40:26 Speaker 02 But I wasn't all, I wasn't like completely out of it. Like I had a, an assistant that I had made up that was me. That was how I was negotiating my fees at these nightclubs because I knew all the owners. I didn't want to like, be the one to be like, hey, you've got to pay me $200 tonight instead of 75.
40:43 Speaker 01 It was a genius move.
40:44 Speaker 02 So I was like trying to move the needle. Yeah.
40:47 Speaker 01 But then I was like, okay, but if you really want to live like us. Who aren't earning money from trusts, which I then gotten arguments with her other friends who are set up the same like, that's what it's for. I'm like, it is not like you're making 60K at work and you're spending 200 a year because
41:02 Haley Sacks? Don't touch the principal.
41:03 Speaker 01 Yeah, I'm like, it could just be earning you more money to a setback.
41:06 Haley Sacks? Yes.
41:06 Speaker 01 You should just understand. And Hannah was like, I'm down for the challenge. And she's like, we made the call to her accountant and was like, cut it off. And it was like, cool. Now it's what you earn, like eat what you kill. And that mentality created a beast. Hannah is a monster now and in like a financial way, you know, like she works so hard. She's such a hustler. That one paradigm shift like changed everything for our relationship, our stability, your drive, your like destiny to succeed in all this. If you're a lesson, you'd be like, fuck you. You, you created this for me. Now you're taking it away from me. So to come to it on your own terms, to me is like incredible.
41:45 Speaker 02 And in my best like financial year, I made close to like five million bucks, which was a couple of years ago. I mean, and we've had ups and downs over the last 14 years of living online, but like I've been
41:58 Haley Sacks? Five million is a lot.
42:00 Speaker 02 We also were in debt, you know, like there's a lot of stuff behind the scenes that people think, people like think that, like you said, that like I like that this work that we do is all
42:11 Speaker 01 Like free and money, fly and business ourselves. Like we haven't paid for a business flight, maybe ever that hasn't been a points upgrade. That's how we pay for them. But otherwise, like, we're just getting, it's part of the job. Like we earned it through our work and lifestyle, you know?
42:27 Haley Sacks? That's pretty amazing. So, okay, so shut down the haters. Everyone who says that they are just
42:31 Speaker 01 Not really. Don't shut them. Keep
42:32 Haley Sacks? Keep the haters going.
42:34 Speaker 01 We're here for them.
42:34 Haley Sacks? Yeah, absolutely. It's still, you're inclined to your own opinion.
42:38 Speaker 01 Yeah.
42:38 Haley Sacks? But I will say that Hannah and Brendan, like the house in the Hamptons, the apartment.
42:44 Speaker 01 The house in the Hamptons is hilarious. Like people are like, oh, daddy's money bought it. Hannah's daddy's money. I'm like, cool. Think what you want. Like we have, we used In full transparency, we used money from her trust for our first down payment on our apartment
42:59 Speaker 02 On our first apartment.
43:00 Speaker 01 Our first apartment. And as soon as we could, we paid it back in. The exact same 430,000 we took out, we put back in. And I was like, because to me, it was just an interest free loan that we were super lucky to get.
43:12 Speaker 02 Yeah.
43:13 Speaker 01 But we also matched up, we took 430, it was like 800, we put the rest of the money down ourselves. But use that, but it was like, that was on our payback, it was on my Learnvest. Like, we were paying that back and we paid it back.
43:25 Speaker 02 And then when we sold our apartment, we used the capital gains to put the down payment on our house in Hampton's.
43:34 Speaker 01 Yeah.
43:34 Haley Sacks? Smart.
43:35 Speaker 01 We rent it for about 110 a month.
43:38 Haley Sacks? That's a lot.
43:39 Speaker 01 To me.
43:40 Speaker 02 Yeah.
43:40 Speaker 01 By the way.
43:41 Speaker 02 They've done some great upgrades.
43:42 Haley Sacks? Yeah.
43:42 Speaker 01 Their renters have to pay the expenses while they're there. What's the hardest time to run your pool, your AC?
43:47 Speaker 02 Yeah.
43:47 Speaker 01 So we don't pay any of that. We pay off season, you know, all the utilities off season, which is like just running Nest at 50 degrees. You know, it's like a joke.
43:56 Speaker 02 And this is our first summer that we haven't had to rent.
43:59 Speaker 01 Yeah.
43:59 Speaker 02 And so we are not renting our house this summer.
44:01 Haley Sacks? That's so cool.
44:02 Speaker 02 And our kids are going to go to camp and we'll just.
44:05 Haley Sacks? And Aunt Haley is coming over.
44:07 Speaker 02 Exactly.
44:09 Haley Sacks? That's so, congratulations.
44:11 Speaker 01 Our renovations look a little slimmer this year because I just can't, it's, I always just, it's like a net zero operation for me.
44:17 Haley Sacks? Yes.
44:17 Speaker 01 But, you know, we get so many things, get like Kohler is a big partner for us. So they pay us to put our new sauna and cold plunge. You know, like.
44:24 Haley Sacks? Yeah.
44:25 Speaker 01 It's a, to me, it's just game.
44:26 Haley Sacks? That's so smart about how you set things up.
44:28 Speaker 01 Yeah. Yeah, for our house in the city, everyone's like, again, dad, it's dad's money. I'm like, cool. Like, he would never spend a dollar on our house, A.
44:34 Haley Sacks? Yeah.
44:35 Speaker 01 And I got 700 grand of product for our house.
44:38 Haley Sacks? So crazy.
44:39 Speaker 01 And to me, that's like 1.5 million worth of equity because you renovate anything in New York City and it's like 2X.
44:45 Haley Sacks? Yeah. And also like as a, someone who consumes your content, it's really fun to see, like it works on both sides that you're getting those upgrades, but also it is.
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45:23 Haley Sacks? Like great content where people love your opinion.
45:26 Speaker 01 Sometimes I wish I was like just a home guy, but I'm like, I don't have enough money to keep this.
45:29 Haley Sacks? Okay, but let's talk about your vibe as a home guy because your apartment tour went super viral.
45:34 Speaker 02 Crazy.
45:35 Haley Sacks? People are worried about your kids. They're like, are Claude and Preston okay? They don't have windows.
45:40 Speaker 01 Yeah, the bunker.
45:41 Haley Sacks? Yeah, I would never live there. I'm like, you wouldn't live there?
45:44 Speaker 02 Yeah.
45:45 Haley Sacks? You wouldn't live there?
45:46 Speaker 01 Obviously you have opinions, outside opinions, but two, like, people don't understand New York City living. Like, a lot of people only have a front window. I always think like, if I was like, okay, one of you haters, like, I'm just gonna gift you this apartment. They'd be like, I can't do it.
46:00 Haley Sacks? Yeah.
46:01 Speaker 01 Not enough light.
46:02 Haley Sacks? Yeah.
46:03 Speaker 01 You'd be like, incredible. Everything would change online. Like, I just got gifted the best apartment in New York, too. But like, again, who cares? But it works for us. Would we like more light? Of course.
46:14 Speaker 02 100%.
46:15 Speaker 01 Do we go outside? That's the other thing with New York City, like.
46:19 Haley Sacks? Do we go outside?
46:20 Speaker 01 Well, New York City is funny, right? Like, Heron Preston, who's on our roster as well, as you know, put it the best way once when he made this book, which was like, New York City, the halls are the streets and the restaurants are our cafeterias. Like, you're just in class for short times at home, but you just want to be outside. That's the beauty of New York.
46:39 Haley Sacks? Yeah.
46:40 Speaker 01 You're not in LA in your house, in your car. Like, New York is like, you sleep at your apartment, you sometimes entertain, but really, you want to be in the city.
46:48 Haley Sacks? Yeah, I agree. I'm not like a dinner party. Like, when I first in my apartment, someone tried to have me like have a huge dining table. And I was like, certainly not. Like, for what? Like, the one Shabbat I show, throw a year? Like, it's like.
47:00 Speaker 01 We had an outdoor space at our last apartment. We were like, we're gonna barbecue and host. And it's like, you just want to be out with people.
47:06 Haley Sacks? Yeah, 100%.
47:07 Speaker 01 That is New York City. The energy you feed and stay young off and be cultured is from being in the streets.
47:13 Speaker 02 And also, I have to say, this is not our forever home. So, we will get to an apartment that has sunset views and has windows.
47:23 Haley Sacks? Yeah.
47:24 Speaker 01 But also like.
47:24 Speaker 02 We also had an amazing deal on this apartment, and it has so much character, insane ceilings, like.
47:30 Speaker 01 And we rent it out for shoots and make more money than it costs us to carry it monthly, so.
47:34 Speaker 02 Yeah. And it's in the perfect location.
47:36 Haley Sacks? Yeah, so there you go. And that's on that.
47:38 Speaker 02 And I get to, we get to walk our kids to school. So, that in itself is a huge luxury that a lot of people pay a lot more money for in order to have.
47:51 Haley Sacks? Okay, we're gonna wrap things up, but you guys are very, obviously very busy, very successful. You have your fingers in a lot of different pies. But I would hate to have this episode end without just getting a quick breakdown of all the revenue streams because there's so much going on. Wait, Brendan, you need to also tell us how much you made on your best year because obviously it's like a safe space.
48:09 Speaker 01 I mean, my last year was my best year. I almost made 2 million bucks.
48:12 Haley Sacks? Hell, yeah. There you go, Papa.
48:15 Speaker 01 This year I'm gonna clear 2.
48:16 Haley Sacks? Hell, yeah.
48:17 Speaker 01 That's just by doing influencer.
48:20 Haley Sacks? So good.
48:21 Speaker 01 Yeah, everyone thinks I'm just living off Hannah's money. But I'm like, I have goals. I set them, you know, and I stopped managing other people at Previa 2 years ago and just realized I was sharing.
48:31 Haley Sacks? Brendan is my boss, by the way, like my management company.
48:33 Speaker 01 I own the company which owns all of us.
48:36 Haley Sacks? Yeah. Oh, you're my boss as well?
48:37 Speaker 02 Well, I'm like, no, I'm like, I'm always coach's wife.
48:40 Haley Sacks? Okay.
48:41 Speaker 01 But you're a part of my household, our household, so you do theoretically. But 2 years ago, I was still managing other talent at Previa and I was like, why am I sharing all the cheat codes with everyone? I'm making 2/3 of my money being me and I'm just moonlighting. I'm spending like less than an 1/8 of my time on my influencer, like creator life. And I'm doing all the other time on this talent. I'm making less than 1/3 and like, suddenly I just woke up and Gabe's like, I've been trying to tell you. And I'm like, what have I been doing? So I just like, cut all them. And then I had the best year of my life immediately. And then last year was my second year doing it. And I like, yeah, I cleared like 1/7.
49:17 Haley Sacks? But you're so good at optimization. Wait, so walk us through it and then this will be last question. What are the revenue streams?
49:22 Speaker 01 The revenue is content creation is like that.
49:25 Haley Sacks? So brand partnerships, speaking engagements.
49:28 Speaker 01 Brand partnerships, DJing still for me is, yeah, appearances.
49:32 Haley Sacks? Appearances.
49:32 Speaker 01 DJing for me is like an 8th of mine. I'm probably gonna get more into it just because I'm finding love for it again. I actually like really hated doing it after 12, 15 years.
49:42 Speaker 02 TBD if I find my love again. We think I might. I'm trying to.
49:45 Speaker 01 We're gonna do this little outdoor series this summer by our pool and our umbrella with like the DJ stuff and livestream it.
49:51 Speaker 02 I've taken 4 years off of DJing. Once I had kids, you know, and it was the pandemic, like things changed so much. But never say never. Once you're a DJ, always a DJ.
50:02 Haley Sacks? Yeah.
50:02 Speaker 01 But that's like another portion of the revenue stream and then.
50:05 Speaker 02 Then we monetize our houses, we rent them out.
50:09 Speaker 01 Yeah, location services on our houses.
50:11 Speaker 02 And also rentals.
50:12 Speaker 01 Yeah, rentals.
50:14 Speaker 02 Affiliates.
50:15 Haley Sacks? Yeah. Oh, how's that doing?
50:18 Speaker 02 It's doing all right.
50:19 Haley Sacks? Yeah.
50:19 Speaker 02 You know, I'm growing over there, but it's also not my main driver at all.
50:24 Haley Sacks? Yeah.
50:24 Speaker 02 But it's been really fun and I love it. And someone just reached out to me who's very high profile and was like, hey, like your Substack is the number one driver to my company. Like, I would love to figure out a partnership.
50:37 Haley Sacks? Wow.
50:37 Speaker 02 I was like, okay, cool. So it works.
50:39 Haley Sacks? Yeah.
50:40 Speaker 02 You know, and I think Substack is a really great discoverable tool.
50:43 Speaker 01 Yeah, it's a great promotion. And you make like, what, like 20 or 30 grand a year right now on Instagram?
50:47 Haley Sacks? Yeah, yeah.
50:47 Speaker 01 Like nothing.
50:48 Haley Sacks? There you go.
50:48 Speaker 01 And then I make another like 50K off my YouTube ad rev.
50:51 Haley Sacks? Yeah.
50:52 Speaker 01 Plus partnerships over there. So there's all sorts of different small lovers, but nothing, the big earners.
50:58 Speaker 02 There might be another book in my future.
51:02 Haley Sacks? Oh, you gotta talk to me, girl.
51:03 Speaker 02 Mm hmm.
51:04 Haley Sacks? I don't know.
51:05 Speaker 02 Different type of book.
51:06 Haley Sacks? I don't know if Gabe could handle another book, to be honest.
51:08 Speaker 02 Well, he just might.
51:09 Haley Sacks? Yeah.
51:10 Speaker 02 He's gonna need to get in together.
51:13 Haley Sacks? Yes. Okay, what kind of, can you give us like a little taste?
51:17 Speaker 01 More of like a story.
51:19 Speaker 02 Like a coming of age story, growing up in New York.
51:22 Haley Sacks? Oh, heavens, we're gonna get into a TV show.
51:24 Speaker 01 Correct.
51:24 Haley Sacks? That's what I'm hearing.
51:25 Speaker 02 It's all about owning your IP, people.
51:28 Haley Sacks? That's what, that's what Justin Bieber's about, too.
51:29 Speaker 02 Yeah, it is.
51:30 Haley Sacks? If you're not the owner, then you're just working for who is.
51:32 Speaker 02 Exactly.
51:33 Haley Sacks? Yeah, you gotta own it.
51:33 Speaker 02 Yeah, that's kind of a salacious story.
51:35 Haley Sacks? Ooh, is it true?
51:37 Speaker 02 It is.
51:38 Haley Sacks? Okay, there you go.
51:38 Speaker 01 Based on true events.
51:39 Speaker 02 Based on true events.
51:40 Haley Sacks? Okay, we're seated. Well, thank you guys so much for coming on Financial Tea. I love you guys and I admire you and I think that there's so much to learn and obviously so much behind the curtain, so thank you for showing us.
51:52 Speaker 02 You know what? I feel like we've been waiting for this exact moment to be able to spill all the things that people have been talking about for years.
52:02 Haley Sacks? It's glass table talk.
52:03 Speaker 02 Yeah.
52:03 Haley Sacks? All right, stay rich.
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