Episode 197 talks about navigating divorce as an entrepreneur, featuring Rachel Richards of Money Honey Rachel Inc. Listen now!
At the age of 27, Rachel Richards quit her job and retired. She is now living off $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26.
She is a former financial advisor, and has been featured in CNN and Business Insider. By making the topic of money management fun, entertaining, and simple for her 250,000+ millennial followers, Rachel has helped thousands of millennials work their way out of financial despair.
Episode 197 Highlights:
- Instagram vs. reality— As successful entrepreneurs who share a lot of their lives on social media, you probably couldn’t tell that Jannese and Rachel were navigating through a divorce last year at the same time they were running their businesses. They both get raw & real and talk about their stories of dealing with the grief that comes from a divorce, especially as an entrepreneur.
- The power behind passive income when going through a divorce— Rachel and Jannese talk about how and why passive income is so important for women to have, especially when it comes to dealing with a divorce. Not having the stress or burden of worrying about how you’re gonna pay your bills and all the costs that comes with divorce hits different. WE NEED TO BE FINANCIALLY INDEPENDENT, Y’ALL!
- Dealing with the logistics of a divorce as an entrepreneur— Jannese and Rachel have 2 very different experiences when it came to splitting assets and dividing things up between their ex-spouses. If there’s one thing you take away from this week’s episode… GET A F*CKING PRENUP!📣
- The financial impact of a divorce— We’re sold a dream from when we’re kids around the idea of marriage, the lavish wedding reception, the beautiful white gown & living happily ever after with our Prince Charming… but what isn’t spoken of is how a divorce can literally destroy some peoples finances. Rachel shares her own experiences on how getting a divorced without a pre or postnuptial agreement affected her dinero.
- The biggest mistakes they made in their marriages & divorce— Rachel and Jannese talk about the things they wish they did differently both financially & emotionally in those relationships and what they learned from it. We’re getting super vulnerable in today’s episode, y’all!
- And more!
Divorce isn’t a sexy conversation to talk about, y’all… We get it. No one enters into a marriage or relationship thinking it’s going to end. But, it’s a reality that many of us will face at one point in our lives. And it’s important for us to have these uncomfortable conversations because THIS IS REAL LIFE!
While Jannese and Rachel’s situations looked completely different, one thing was for sure… Maintaining your independence (especially financially) is ESSENTIAL. What you experienced in the beginning of your relationship may not necessarily be the way it will end. We hope listening to this conversation resonates with whoever needs to receive it and helps you figure out what decisions you need to take a look at in your own lives.
Thank you to Rachel for coming back onto to the show to have this vulnerable AF conversation that needed to be had. We appreciate your realness, sis!
Until next time, stay empowered, stay inspired and #staypoderosa ✨
Watch the full interview on our YouTube channel! Subscribe here.
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