YouSaid · the spoken record

Katie Gatti

lines on the record: 66
first: 2022-06-12
most recent: 2022-06-12
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“About a few weeks ago, but even if you wanted to say, okay, I'm more comfortable with a 3% conservative withdrawal rate, it's very easy to take those withdrawal rate best practices, flip them on their head, and say, okay, well, if I know I'm spending X dollars per month, that's X dollars per year multiplied by 12, right? Then I'm going to multiply by between 25 and 33 to understand how big my portfolio needs to be in order to reliably spin off that three or four percent number per year represents the amount of money that I want to be spending. And so what the tool that I built does is it basically asks you, how much of you have you invested now? What do you have invested in the stock market right now? How much are you earning right now? And what type of raises are you anticipating getting, whether it's 3% per year or 5% per year? So you can kind of project.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so I think it comes down to a few key variables. And I've been surprised repeatedly how few people have really stopped to think about these things. And I guess it makes sense because before I kind of fell into this rabbit hole world of phi, I had never really thought about it. But I think what it boils down to is understanding both what you're spending now, so what's your life costs now? And if that is the amount of money that you anticipate wanting to spend in the future, like is the amount of money I'm spending now sufficient for living the lifestyle that I want to continue to live? Or am I overshooting or undershooting that in any significant way? So because of the 4% rule research, and I know that there are people that say that, oh, it's no longer valid. We did a really big deep dive on the pot about this.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“So it's been a really cool experience to get to plug into an already established kind of like media enterprise and benefit from the resources that they have and that broader mentorship that you just don't really get when you're doing it by yourself. So I've been really happy with how the relationship has kind of evolved.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Personal finance content and wanted to know if I'd be open to talking. And at the time, I thought he just wanted to set up like a consulting call or like, hey, what are you learning? What are you noticing? But then by the end of the conversation, he's like, well, we want to buy you. I was like, oh, that's not where I thought this was going. So like, yeah, month of negotiations ensues, we talk through kind of like technically what it looks like. It didn't end up being like an aqua hire situation. So like they hired me as an employee to run money with Katie, but then like acquired all of the intellectual property and the brand and all of that since it was already kind of like an established business. So it's been interesting. I think I was the first one that got brought on in that way. But yeah, it's been great. The growth since joining has been explosive and the amount of resources and even things like video editing. Like I'm not a video editor, but like now we're putting the show on YouTube because we have a team of video editors.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, totally. Well, weirdly enough, the way that I met Austin Reef, who's the CEO, completely, you know, random a couple years ago, I got a traffic citation because I was sitting at a red light reading Morning Brew. And so I tweeted Morning Brew. And I was like, I am so dedicated to this newsletter that I just got $150 citation for reading it at a red light. And so then Austin DMs me from the Morning Brew account and is like, hey, we're going to pay for the ticket. Like what's your PayPal? So then we start going back and forth. I realize, oh, this guy's like one of the founders. We follow each other on Twitter and just kind of had that like periphery acquaintance situation on social media. Well, then years passed when I launched money with Katie. He started following on Instagram. He subscribed to the newsletter. And then last November, he reached out and said that they were thinking about expanding more into personal.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“I think we'll see more women coming into the space, and I think they have been even since 2020. I've noticed more women coming in”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“To break down those walls. And I think if women have historically been excluded from something, like they're probably going to be less likely to be interested in it now. But that's changing. It's certainly changing. So I think with time, we'll continue to see that shift. But good on you for specifically seeking out female voices. I do think that men and women approach investing and finance differently, like at an aggregate level. Obviously, there will be outliers within either side, but I think that it is interesting to hear from both sides. I was just listening to a Michael Lewis podcast last night actually about that and how women, when compared, like compared to men in their investing styles, do tend to be more conservative and exhibit less hubris in stock picking, which tends to net better results. So I just think it's kind of funny because we do tend to have like gendered differences in the way that we approach money. And yeah.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Your content, but you just you're kind of unprofessional when you say the F word. I'm like, well, I might not be for you then. But I mean, I think that is also what I mean. Like that very casual and kind of like humorous angle, that was also, I felt like something that I didn't see a ton of. There's obviously some, but by and large, the stuff I would listen to is very serious and very buttoned up and very professional. That's just not how I learn best. And I tend to get bored with that type of stuff. If that's the only thing that I'm listening to. So I figured that, you know, that might kind of apply to others. As far as why women aren't as involved, you know, I wonder if it does kind of stem from the fact that finance has traditionally been like a male-dominated industry. I think you could probably say that about any industry until like the last 20 or 30 years that it was male dominated. I think that that just takes time.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, that's a good question because there certainly were some at the time, and particularly because my preferred method of information gathering was like books and podcasts and blogs. And so there are people like Paula Pant or Christy Shen. There were some women that I would see, but by and large, it was majority male. And when I say it and see and hear people like me, I partially do mean female, but on the other side of that coin, I think my approach is very irreverent and like a little bit raunchy. And like I swear and use kind of like explicit analogies. And it's just because that's what's more fun for me. Like that is my personality. And I didn't really come across many personal financer investing podcasts or blogs that did that. And I even today will get messages or emails from it being like, I really like.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think I'm pretty risk averse. And I think my investing philosophy really hinges on things that I can. And with traditional equities and things like real estate and small businesses, it's very obvious to me why those things are valuable, why they have money, how they create value, with the more speculative assets like cryptocurrency or NFTs or some of the more unorthodox things that have come onto the scene in the last decade. For me, there is a bit of a mental block there that despite the research that I've done, I can't really overcome. And so I think for me it was more so just like I know this traditional path works because it's worked for millions of people. So I have a fair bit of confidence that it's going to work for me and that there is the historical data there to back it up. So I think that was really kind of why I did consider those things, but ultimately never very seriously and why the traditional path always felt like it made more sense for me.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Doing how you're probably going about it now, and that you know, if you just sleepwalk through these decisions, you're going to get really average or maybe even below average results. But like with a little bit more effort, with a little bit more intention, with a little bit more proactivity, you can have a radically different trajectory in your financial life. So I really do owe, I think, most, if not all of my foundation and even beyond that foundation to guys like Brad and Jonathan and Brandon from Mad Scientist.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Which I always found amazing. I was like, you guys know all about this. And they'd be like, I know nothing Yeah. So embarrassingly, the first thing I did was turn to all my guy friends and say, Where do you guys learn about this? Because I hear y'all talking about money. I hear you talking about what you're investing in. And at the time, they were all, you know, trading and like not anything that I do. But one of them sent me an article about traditional versus Roth from Mad Scientist who full circle moment had him on the show a couple months ago and it was really surreal. So I would read mad scientists. I would listen to the Choose FI podcast with Brad and Jonathan. So I kind of was getting it from like all angles. It was like the super nerdy technical math side, but also learning about kind of the philosophy around financial independence in general, you know, retire early movement in general, but also just like, hey, there is a better way to go about life than what you're probably.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Of view that I have that I'm not really seeing represented, and like maybe there are other young women I was three years ago that have no idea what they're doing but are interested in learning more. So that's kind of how I got here”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“An excuse, and interestingly, the more that I started to learn about it, the more I realized, oh my God, there's so much out there. Like anything you could possibly want to know is available on the internet for free. So that was what kind of kicked off my love affair and obsession with financial independence and the math that sets you free and compounding and exponential return. I mean, like it just built on itself. And so after several years of that, Finally in spring 2020, I, you know, I'm sitting around, I have all this free time on my hands for reasons we all had free time on our hands in April of 2020 and decided that I kind of wanted to add my voice and my perspective to that conversation because most of the people that I was learning from didn't really look or sound like me and I figured hey there are experiences that I'm having and you know point”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“My life, and I don't really feel like I have all that much to show for it. And I'm not really feeling like I'm very proactive right now about the money that I'm receiving and what I'm doing with it and whether I'm setting myself up for the future. Like there was no plan. There was no strategy. It was just as long as the rent money was there on the first of the month and the discover bill was getting paid on the 27th. It was like, all right, cool. I guess I'm good. And I would say that, yeah, in that six to 12 month period, I kind of took a step back and was like, all right, I think I need to start learning about this. And for a long time, I always kind of blamed the fact that I'd studied communications in college. And I was like, well, you know, I don't understand money. I'm not good at math. I didn't study business. I didn't study finance. Come to find out that the people that studied business and finance don't understand it either in their own personal lives. They understand it at the corporate level, but like just because you study finance in college does not mean that you're going to be good at personal finance. So I think that that was.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT
“Yeah. Well, first of all, that's very kind of you to say. So thank you. I really appreciate that. Similar to you, I think the way most people kind of find out about this stuff and get interested in personal finance and investing. I feel like it usually is out of necessity. Like everyone has that financial awakening at some point, whether it's in your early 20s, God willing or your late 50s where you're like, oh crap, like this is not something that's just going to happen on its own. And so I think when I was early in my career, I was working at an airline in marketing and I had a decent starting salary, nothing crazy, but definitely more money than I'd ever seen before previously in my little college internships. And it probably took like six to 12 months before I was like, wait a second, I, you know, I'm giving this place like the best hours of my day during the best days of my week, during the best years.”
2022-06-12 · We Study Billionaires · TIP456: How to Build a Wealth Plan for Financial Independence w/ Katie Gatti · IDENTIFIED FROM THE TRANSCRIPT