Aug 28, 2018
Today’s guest is Rebekah Aladdin, celebrity makeup artist. Rebekah overcame generation poverty, attended college, and saved her way to being able to go after her dream. Her work as a makeup artist has been featured in 11 magazines this year. Her celebrity clientele includes Lena Waithe, Aisha Hinds, Justine Skye, Winnie Harlow, Cassie, Mary Mary, and Normani Kordei to name a few.
Today Rebekah will share with us more about her upbringing and how it impacted her ability to attend college. She’ll share about the things she did to make ends meet and help her family at the same time and the smart decisions that she made that allowed her to take a risk on herself.
In This Episode We Discuss:
- Generational poverty and how intelligence is a resource.
- The difference between a necessity and a treat.
- The mindset change that helped Rebekah embrace life as a freelancer and overcome her money hangups.
- How to know when it’s time to hire a team.
Rebekah on Instagram: @rebekahaladdin
Rebekah's website: www.rebekahaladdin.com
The Word of the Day: Insurance
I thought about describing IUL’s but what I really want to discuss is how to avoid being taken advantage of. The reason I got so upset when I heard Rebakah say that an insurance purchase went poorly for her is because it happens far too frequently.
An insurance agent decides to refer to him or herself as a financial advisor but the only advice they provide is "buy this insurance." They do not help you understand your budget. They do not consider whether you have an emergency fund in place. Are you contributing to retirement? Do you have a good strategy for your student loan debt? Insurance is a product, not a service. It is unfortunate that we must be wary of people who refer to themselves as advisors and that you expect to provide a service but really are just peddling a crappy product that does not consider your complete financial picture and disappear once the sale has been made.
This damages the image of the financial industry and in particular makes it hard for those of us who aren’t selling a product but providing a service.
Insurance is not bad. Its job is to protect you from a risk. There is a type that is appropriate for you but a person first needs to know your full story before prescribing a cure. Some questions to ask when someone is encouraging you to purchase a product:
- How they get paid for your purchase.
- What happens when you want to get rid of the policy?
- What happens if you need to stop paying that premium for awhile?
- Do you provide support outside of this insurance purchase?
If you have financial questions, suggestions for guests, or would like to share your own money memoir, please contact us through our website worth-listening.com.
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