"Financial Game Plan"

Jacquette Timmons:
Questions that provide insight onto what you should focus on:

1. What causes you stress around money right now? Is it earning it? Saving it? Investing it? Spending it? Is it debt? Is it with a relationship? Be really clear about what is causing you stress.
2. What is your biggest challenge right now and what's the intersection between that challenge when it comes to money and the thing that you have listed down as to what is causing you stress?

(Jacquette also has NBA clients)
Karen: What are you telling these kids that come into the NBA, and get these multi-million dollar contracts?

Jacquette: The first thing that I'm telling them is that, you're rich, but you're not wealthy. Don't confuse the two. The rich comes from the fact that they have these million-dollar contracts but they're not yet wealthy because they haven't built up assets. They don't own anything just yet. So, when you start owning things, whether it's owning a business, owning income-producing real estate, owning assets because you invest in the stock market, then, that is when you get into the wealth-building mode. But at this current moment, it is just, you have a multi-million dollar contract. So, you have a lot of income, and that's rich, but not wealthy.