Stop Following Your Parents' Money Rules with Haley Sacks

0:02Mick:You're listening to Mick Unplugged, hosted by the one and only Mick Hunt. This is where purpose meets power and stories spark transformation. Mick takes you beyond the motivation and into meaning, helping you discover your because and becoming unstoppable. I'm Rudy Rush, and trust me, you're in the right place. Let's get unplugged. Today's guest is the acclaimed Miss Dow Jones. a financial educator helping millions understand and build real wealth, and an author of the book that is just released today, Future Rich Person. I call it the blueprint that every entrepreneur, every leader, everyone that's thinking about leveling up needs to read this book.

0:50Mick:So please join me in welcoming the insightful, the trailblazing, Ms. Haley Sachs. Haley, how are you doing today, dear? I'm so excited to be here. Like I told you, I'm a huge fan of Mick Unplugged. And so this was like the podcast on my schedule that I was so looking forward to. I am honored to have you on. You mean the world to me. This book means the world to me. But before we get into the book that's out today, I want to ask you, Haley, you know, I ask every guest this about their because. That thing that's deeper than your why, I call it like your true purpose, your true passion. So if I were to say, Haley, in 2026, what's your because?

1:29Mick:Why do you keep doing the things you do? I do the things that I do because I genuinely believe that financial health is as important as physical or mental health. And it's something that's not prioritized or taught. And so people are walking through the world with all of the shame and not knowing and overwhelm. And it is degrading their quality of life when they could be living these big, rich lives. And so I do it because I want to show people that it's not that hard. You just need these steps. And then it will infinitely improve your quality of life and give you access to, you know, your dreams.

2:07Mick:Yeah, I love it. And that is truly who you are, right? Like the energy that you have, I call it the swag that you also have. It's in everything that you do, right? Your social media, one of the best IG follows you'll ever have is Haley Miss Dow Jones. So make sure you go check that out. There's links right here for that. But Haley, I got to talk about this book. Usually I wait towards the middle or the end of the show to talk about a book. This book is so powerful that we're just going to go out of the gate with this book. Like I don't care about segments. Like this whole segment today is future rich person.

2:42So this book, for those that are listening, for those that are watching,

2:46Mick:one, go get the book is out today, future rich person. I don't care if it's Amazon, Books A Million, Barnes and Noble. your local independent bookstore, go get it, because here's why. It doesn't matter who you are. It doesn't matter where you come from. It doesn't matter what you are doing today. This book is giving you a blueprint, one, to understand money, to understand circumstances around money. I mean, we talk about, we hear all the time that you don't want debt, you don't want debt. Well, Haley has a chapter in understanding debt, and some debt is actually good debt, right? So Haley, I want to talk first about why the book and why now?

3:22Mick:Like what made you say this book needs to come out and it needs to come out? You know, it's so funny because the book is called, like you said, Future Rich Person. But then the subtitles are the new rules for building wealth, even if you're stuck, broke, and that billionaire won't text you back because they have a little bit of humor. But what I want to focus on are the new rules for building wealth. Because to me, why I wrote this book is because the world and the economy and our circumstances have changed so dramatically and so fast. But the financial education that we've been using, and like looking to and the books that are still like in the canon, are built for a world that doesn't really exist anymore.

4:03And so it was so important to write something that was modernized, that had, you know, information about AI, information about how to start your own business, like who have no one teaches you about S-Corps and LLCs and all of the great retirement accounts that you get access to if you have your own business. And like, you know, that's something that so many people are doing right now, teaches you about negotiating, about good debt, about all these things that, you know, for our parents' generations were not in those finance books. And so it was important to me to modernize financial advice with this.

4:38Mick:No, I agree. And I want to go with, I'll call it an unplugged truth, right? And you hit us with it early on in the book. And I want you to talk about this. I need everybody that's watching this listening to calm down and focus for me really quick. It's okay to want to be rich, right? There's this huge stigma of, you know, wealth and the ego maybe that some people have. I think you're looking at bad people because I'd say most wealthy people that I know are actually good humans and do good things with the wealth and the rich that they have. Haley, why is rich good? Yeah, so I think that we, you know, the first part of the book, Mick, is so much about mindset, because what I always say is like, you can't actually change your financial life until you figure out why you have been relating to money the way that you have been.

5:30Like, I could teach you everything about emergency funds and debt and investing, but you're never going to actually make any changes unless you actually understand like your why. And so part of your why is breaking down your money identity. And for a lot of us, we have these money identities and money stories that like you said, are related to like wanting money is bad. Like, you know, I'm greedy if I want wealth, rich people are all evil, and all these things that sort of keep you small and stuck. But the truth is that money only magnifies who you are. It only makes you more of who you already are.

6:10If you are a weird person who's like, you know, nefarious and wants to do like, things that are messed up, and you've got a lot of money, then guess what, it's going to be really easy for you to do that. But if you're someone who wants to, you know, a be able to take care of yourself really well, so you can have great health care, and leave jobs and relationships that don't serve overview and live in a place that you feel really good about, like just like these great parts of life that we like overlook. But also, if you want to help your community, you want to be able to give back, you want to help your parents, your family, like money is a tool to do all of that.

6:47And so I don't think it's evil at all. I just think that, you know, there are rich people who are evil, but there's probably there's broke people who are evil, too.

6:55Mick:Yeah, yeah, yeah. Money didn't make them who they were. You're right. It just it just accentuated it more. That's all that it was. That's all that it was. You talked earlier in your intro about different things on understanding what's an LLC C and an S and a, you know, when is it right to be a corp and all that. And you go through a lot of scenarios or there's a there's a segment of the book that goes through that. I'd love for those that are watching or listening, and I want to talk specifically to that person who's just above solopreneur, right? You're building that team. They're starting to really grow revenue.

7:37Mick:And maybe they didn't do anything with the legal structure of their business. Talk through the importance of that for that person in particular. That's such an interesting point, right, Mick? because it sounds like for this person, which I mean, it happened for me too when I started Mrs. Dow Jones that you sort of play with a business idea and then you're like, oh wait, it's sort of working. And then you realize, okay, there's a lot that comes with this that I have to put together to do it successfully. And so when I started Mrs. Dow Jones and started making real money, I didn't really understand quarterly estimated taxes.

8:14Like I was just depositing checks, feeling really great about life. And then, you know, tax season hit and I got slammed with a giant bill that I was unprepared for and had to scramble and cover it. And, you know, that tax awakening is something that most solopreneurs have. And it is completely avoidable if someone just tells you ahead of time and you start taking like 30 to 40 % of each of your paychecks and just putting them in a high yield savings account so that when tax time comes around, you don't have any surprises. Have you ever had a tax thing like that happen? Oh, absolutely.

8:51Mick:Absolutely. Multiple businesses. You would have thought I'd learned the first time, but the first time I thought, okay, it was an anomaly. And then the second time it was like, oh crap, I kind of need to focus on this and do the right thing. Right. And it changes too. You know, the same setup for person one, and you go through this in the book, isn't the same setup for person two, even if they kind of look identical on paper, right? Like you've got to talk about the vision that you have for your company, you know, what's going on in your personal life as well too. Like there's a lot of things that go into these structures and I don't think most people get it, but you break it down beautifully.

9:29I really appreciate that. I also want to shout out something that I talk about in the book too, is like the separation of your business and personal finances. Because obviously, like I say this so much in the book, like you are your best asset, like invest in yourself, like build your skills. So much of the book, this is not a shameful finance book, but it's about like cutting back, no lattes, no avocado toast. It's about like you as a future rich person making more money and then knowing what to do with it and also avoiding spending it all, even though we are in this society where like, you know, our parents were advertised to 500 times a day and were advertised to 5 ,000 times a day.

10:07So it's hard. But when you start a business, I think a lot of people are like, okay, I got to go all in on the business. But you know, it's so important to make sure that you are also putting money away for yourself, just like in those retirement accounts, because you never know what's going to happen, even though you want to bet on yourself so big, never go all in.

10:27Mick:Yeah, yeah, I love it. And you know, that's one of the subjects in the book, right? Is like, how to save money. But you also talk about how to use money, right? And one of my favorite chapters in your book is chapter seven. And for those that are watching or that are listening, the way the book is set up is you're gonna get a topic, you're gonna get a scenario, you're gonna get the real inspiration. So it's like Haley having a conversation with a business owner or a person and you're walking through something that everyone can relate to. But chapter seven, we talk about Money 911. And I saw the title and I said, I'm reading this one.

11:03Mick:And it was so good that I had my two sons also read it who are in their mid-20s, early 20s, because it's really important for them to understand, like they hear dad talk about money, right? They have friends, they see things, they understand wealth, and I'm not saying I'm wealthy, but they understand money. I want them to be future rich people, my sons. Just because dad might have$2 doesn't mean that it's their$2, right? So I wanted them to understand that as well too. But let's talk about Money911, And let's talk about chapter seven. Walk us through high level that story, you know, going through the freelance web designer, which I think is so relevant here with everyone being able to vibe code and to create their own websites and to create services that are making money for them.

11:57Mick:I thought this was so relevant, which is why I had my son start with this chapter, actually, because everyone can go do their own thing now with vibe coding and creating apps and AI. This chapter resonates. So sorry. I didn't mean to still get under it. Oh, I'm like, it's so cool to talk to someone who like really read the book and who it sat with. Like, this is like my dream conversation. I appreciate it. Okay. So what Mick is talking about is, yes, chapter seven, Money 911. one, which is really about the importance of an emergency fund, which is, you know, that's sort of the first step in your financial journey after mindset is putting away three to six months in a high yield savings account, because anything that can go wrong will go wrong.

12:43And if you don't have that, it just puts you in these really precarious situations. And so the story that Mick was talking about was and throughout the whole book, if you're watching, there's, I have these interviews with real people in them, which I think was like a really fun way to sort of get the story across, but also it was just like so fun to talk to people because sort of makes you feel less alone in your money journey too, because you're like, oh, everyone is figuring this out. But anyways, this woman, Kai, was freelancing, as you said, she was working for this homemade baby food company, and they paid her half of the amount before and then they went under before they paid her the other half and she couldn't afford her rent and she didn't have an emergency fund.

13:27And so she was scrambling and was like, okay, this is really smart. Even though it's not allowed in my building, I'm going to Airbnb out my apartment, stay with my parents, and then I'm going to be able to make rent. And what she didn't account for, and this is true, were the people who Airbnb'd her apartment had bedbugs. And so she came back to the apartment and it was like a total mess. She needed to call the exterminator. She needed to let her landlord know. And it just like came out that she had Airbnb'd and she got kicked out of that apartment. She had to pay actually more money to get all of the, you know, bedbugs and everything out of there and had to move in with her parents.

14:16And so it was like just by not having that safety net put herself everything became so much worse than if she had just had that and like 49 of americans can't cover in a thousand dollar emergency so you can imagine how much five story is happening yeah yeah it's it's a beautiful story and i will tell you if you are a parent of a teenager or older i would definitely one buy the book but two i would

14:46Mick:start with this chapter for them because this was a conversation that I had with my two sons, Jay and Kamen. I know you're listening. I know you're watching. So I'm just going to share our dirty laundry really quick, right? I needed them to understand because at some point you have to, I'm going to say financially mature. And by financial maturity, I mean, it's not, hey dad it's towards the end of the month and rent's going to be due in a couple of days and I need some help and I'm not saying that my boys do this or have done that but I need everybody to understand like how do you prepare for that maturity and so I'm going to give a hot take that I'd love for for Haley to chime in on because this is going to be her hot take because it's her message you famously have said that the rules of money have changed right and I think now is that time.

15:40Like, I'd love to get your continuation of that quote.

15:46Mick:Like, why isn't following your parents' advice going to make you wealthy anymore? You know, Mick, because the old American dream is dead. You know, our parents' generation, they would be at the same job for 40 years. They had had a pension at that job. They had equity in a home that they could actually afford the home, which was crazy for our generation. And then, you know, I were going to resell it for a profit because the housing market was really different. The student loans were really different. Access to credit was different. There were just so, it was such a different time where you could trust the system more than you can now.

16:34Now it's like, that's why reading for future research is so important is because, you know, the system was always created by the people that it serves. So that's like why rich people save so much on taxes, because the tax code was written by the people that it's protecting, you know? And so, but that doesn't mean that you have to be a billionaire to benefit. It just means that you have to understand the rules of the game so that you can win at it. And if you don't, then you're never going to get ahead because the system is out to get you. It is a predatory financial system. At every turn, they want you to get into debt.

17:11They want you to set up accounts that have high fees. They want you like there's just so much coming at you every day that is nefarious and trying to take your money. And so you need to wise up and really commit to your financial literacy so that you can win regardless of that.

17:28Mick:Yeah, I love it. I love it. I love it so much. You said something that I've said a thousand times. So I'm glad that you were able to say that so that the listeners and watchers don't have to say, Nick's just going to say that again. Haley said what I've been telling you forever and ever and You know, Haley, I like to talk about the room, right? Like, I think for everyone, your life changed when you got into a room or a dinner or a meeting with someone that could mentor you or show you something. And it changed the trajectory of your life or your career. Ironically, you have a chapter, chapter 12, where you talk about money etiquette.

18:12Mick:And if I were to say the room that changed me the most was, and I'm going to say John didn't use the term money etiquette, but it's the same principle. The moment that Damon John taught me how to appreciate money, how to see money, and how to understand how money works for you, right? And again, it's that appreciation of money, not the love of money, but the appreciation. And that's what chapter 12 reminded me of. It reminded me of a room. So I'd love for you to, one, tie in chapter 12, the money etiquette. But was there a room, was there a moment in your life where money etiquette meant something to you?

18:57I mean, I've learned so much from Damon, too. I love his work around money. And I think for me, the room where things really changed around me with money was as I became more successful, rooms where I was with people who were not as successful and learning how to, because it's, you know, when you are chasing financial success, that's something that you can be really focused on. but I firmly believe that like, you know, the best relationships are not with people that, you know, have the same paycheck as you. It's just like people that you actually like connect with and vibe with and have the same values.

19:37And that might not like mean that you have the same amount of money, but like money can be something that really like alienates people and makes them feel weird. And if you are, if you move with it in a way that feels like you're holding on too tight or you're nickel and diming people or you're tacky or you're not respectful of where someone else is at financially, it can really degrade your relationships. And so, yeah, I think that those were the rooms where I, where my money relationship really like where I had to like up my money etiquette the most. But, you know, and even like having conversations with your friends or spouses about money, like it's so important to do this and to be upfront, but the way in which you do it has to be handled with grace and elegance and also sort of just like, I always think a little bit of humor goes so far.

20:30Like I love to like, you know, smile and like be funny about things that are super serious because it just cuts the, that takes the air out of the room a little bit. Like it makes people relax a little bit, but you know, this chapter, I get so many questions about money etiquette. Like we're all trying to fix our money mindsets. And then of course, we want to grow well, then the idea is when you have the money, what do you actually how do you move with it? And money is energy, you have to remember. So like, if you hold on to it too tight, or you know, you're acting in these ways that are unsavory, it's not going to come to you as freely, like you have to be in relationship with it in a way where it will come back to you.

21:09And so that's why I also think that money etiquette is so important.

21:12Mick:Yep, I totally agree. And I love how you wrote that chapter one. Again, I'm going to keep bringing up this book. Everybody go get it. It's right here. We're going to have links everywhere. There's descriptions, show notes and everything. But you know, you start off with the Beyonce little quote, and then it goes into, it's almost like the 10 commandments, right, of money etiquette, which I love how that's written. And so again, my kids, I have them start with chapter seven, and then I go to chapter 12, just because I like that flow for them. And this is why this book is amazing. This book, when you read it, again, go get it today.

21:49Mick:You can take this journey wherever you want. Like, yeah, I'm sure Haley wrote it to go from page one to the end. I'm loving that we're moving around. Yeah, like I, that's how I like to read books like this, because there's going to be days where it's like, let me go back and read chapter five again. Let me go talk. Let me go read into part two on making money and why that's important right like I think it's it's it's a book that's so cool and then you know we talk about yeah we also have a full chapter on rich kids too so like if you're someone who's trying to build generational wealth for your child that's the same way that you know no one teaches you about business structures no one teaches you how to do that either but it's actually pretty simple so I break that down as well like there's just it's it's everything that you were never taught about how to win the game of money and written in a way that's like so palatable and easy like I love that you were able to read it just like like my goal with writing the book was like you know so many people buy finance books and they never crack them because it feels like this like like it feels like punishing to read it like as though like you're going to read it and you're going to feel like you got in trouble and I wanted it to feel like a book that's actually like fun and that you wanted to enjoy and finish and pass on to your friends and your kids.

23:08But that's going to teach you.

23:09Mick:It is definitely that book. So again, everybody, you can see it. Go get the book today. Future rich person, Haley Sachs. Haley, I got to get you out of here on my rapid fire. I can't wait. You ready? I love it. Yes. Number one, who is the wealthiest person that you've been around? And the moment you met them, you were like, how the heck did they get here? No, I'm saying I'm joking. Don't say that out loud. Don't say that out loud. Don't do that. Now, what's your go-to meal on a cheat day? Comfort meal. Spaghetti, pomodoro, and chicken milanese. So like spaghetti with tomato sauce and like fried, basically fried chicken.

23:49It's so good.