Navigating money issues with your family is hard. Navigating money issues with your family is even harder when you’re a first-generation American. First-generation children of immigrants face unique cultural and emotional barriers and often find themselves at the intersection of building a financial life for themselves and supporting their parents financially. 

Gigi Gonzalez found herself facing this dilemma when she got serious about her finances and realized the information she was reading didn’t align with her lived experience or her values. So, she started posting about it on TikTok. Eventually, she quit her job in finance to become a full-time content creator. She offers her best advice on what to do when your personal finance goals clash with your family's money expectations. 

In Mailbag, we talk about the best investment options for a young kid, and a listener who doesn’t have much saved for retirement is wondering if she should take out a loan to pay her mortgage. In our news of the week, we cover the new magic number for retirement, the best time to sell your house this year, and what to do if you still owe the IRS money.

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Takeaways:

Chapters:

00:00:00 - Introduction and Financial News Update

00:06:07 - Gigi's Financial Education Journey

00:09:04 - Transition from Finance Job to Content Creator

00:11:43 - Challenges as a First-Generation American

00:15:24 - Setting Financial Boundaries with Family

00:23:55 - Improving Financial Habits in Marriage

00:26:01 - Investing While in Debt

00:27:49 - Mailbag Segment

00:29:59 - Listener Question on Investing for Child's Future

00:33:54 - Listener Question on Managing Finances Pre-Retirement

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