Joney Talks!

and come on we are already young and fun!

In today’s episode, we will speak to a repeat guest: Leanna Haakons from Young, Fun and Financially Free.

We met at Fincon in Washington D.C. in September last year and even shot a short video on cryptocurrencies and on how the wealthy invest (check it out here). This time we will talk about several topics: How Millennials approach personal finance, the struggle for personal finance content creators on social media, the importance of investing in equities (or stocks) especially at a young age, we will then move on to a short discussion on the streaming wars and finally, we will discuss some interesting passage of her book Young, Fun and Financially Free. 

The video below from Leanna on CNBC is a great introduction of what we will talk about during the show.

It’s always a pleasure to have her on the show to discuss industry and market trends. All in all, it is a great and easy conversation to listen to and Leanna is great at explaining financial concepts in a simple manner. She really embodies the Young, Fun and Financially Free spirit!

Listen here

…or listen on Apple Podcasts or Spotify.

This episode is for you if you are from the “Millennial generation” and want to get started with your finances and it is as well for you if you are interested in entering the stock markets but have not taken that first step just yet. You will enjoy it, believe me!

Key Takeaways:

• Define your “Financial Nirvana” (your best life): Define what is it you want in life and then you can start planning your finances around it.
• Millennials approach towards Personal Finance: The statistics are indeed scary, only 24% passed a test of basic financial knowledge (test it out for yourself here, it is US-based though), there is a true lack of financial literacy.
• Back in the 50s, nothing was automated: You went to the bank to get your paycheck, that is where you learned about money and investing. Today there is so much more automatisation, that one does not need to think about it anymore but on the flipside, distractions are automated as well. There are so many resources but there are so many more distractions as well.
• Don’t be a stranger on social media: Send Leanna and me DM’s and comment on our photos on social media, we love it!
• Stocks: If you want to get into it but haven’t started yet, you have to. (and you should be diversified with other asset classes: bonds, real estate, treasuries, REITs,…)
  • The younger you are, the better it will work out for you because in the case of a market recession you have time to recover
  • Should a recession occur: Don’t touch your equities, do not sell!
  • You do not need to know 1% of what is being talked on financial TV shows or in the financial press, focus on the basics and you should be more than fine.
  • ETFs are a great way to start investing in equities (diversification and low costs)
    • ETF or Exchange-Traded Fund: A basket of securities (bonds, stocks, commodities) that trade on an exchange, just like a stock. (Source: Investopedia)
• I have also made my mistakes when starting out with the stocks markets, luckily in the case of Apple, I have done well 😅.
• Building a “Dream Team” is a huge part of adulting. It is about knowing who you can reach out to for advice in various areas of your life: Mortgage brokers, contractors, lawyers, investing experts, etc.

Who is Leanna?

With a keen financial appetite from a young age, Leanna landed her first job in the capital markets while attaining her business degree and investing in stocks. Gaining further knowledge through higher education and work experience globally, she lives up to the nickname “the Hawk.”

Discovering that it is not that complicated, she takes the fear out of finances and shares her tools with readers over 10 years later in her best-selling book “Young, Fun & Financially Free.” Leanna founded Black Hawk Financial in 2014 after many years of experience working in diverse niches of the financial services sector worldwide.

RESOURCES

• Website: Young Fun Free
• Book “Young, Fun and Financially Free” (book review here)
• Leanna’s Company: Black Hawk Financial
• Twitter: @leannablackhawk
• Instagram: @leanna_hawk
• Facebook: Leanna Haakons Official
• LinkedIn: Leanna Haakons
• Personal Finance website: TBC 🙂
• Recommended books :
  • Principles: Life and Work
  • The Woman I Wanted to Be
• Best purchase under 100 USD :
  • Side Sleeper Pillow
  • Thrive the book
  • Thrive Global, Arianna Huffington’s company

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Disclosure: This post may contain affiliate links. That means I may make a small commission (at no cost to you) if you make a purchase. This will help to support Joney Talks!