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"With the Bag to Match" Episode 3: On Managing Money with Adrienne Bailon-HoughtonVideo

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Video ADA Text: "With the Bag to Match" Episode 3: On Managing Money with Adrienne Bailon-Houghton video

Transcript Browser Title: Video transcript: "With the Bag to Match" Episode 3: On Managing Money with Adrienne Bailon-Houghton

Description: In “With the Bag to Match” Episode 3, former NYSE trader Lauren Simmons spoke to Adrienne Bailon-Houghton and J.P. Morgan Market Director of Wealth Nina Jackson. Find the recap here.

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Length (seconds): 1011

Transcript: <h2>Note:</h2> <p>A bold disclaimer appears on a black screen and reads:</p> <h2>On screen:</h2> <p>THE DISCUSSION TODAY IS FOR INFORMATIONAL PURPOSES ONLY, THE SPEAKERS' OPINIONS BELONG TO THEM AND MAY DIFFER FROM OPINIONS OF J.P. MORGAN SECURITIES, LLC AND ITS AFFILIATES, VIEWS PRESENTED ON THIS WEBCAST ARE THOSE OF THE SPEAKERS; THEY ARE AS OF 10/18/2023 DATE AND THEY MAY NOT MATERIALIZE. THIS IS NOT AN INVESTMENT RESEARCH CALL AND IS NOT PERSONAL INVESTMENT ADVICE OR A SOLICITATION OR RECOMMENDATION, INVESTING INVOLVES MARKET RISK, INCLUDING POSSIBLE LOSS OF PRINCIPAL, AND THERE IS NO GUARANTEE THAT INVESTMENT OBJECTIVES WILL BE ACHIEVED.</p> <h2>Note:</h2> <p>Background music plays.</p> <h2>On screen:</h2> <p>This video opens with a man in a suit opening a car door of a black SUV for a woman in a tan blazer, who then gets out of the car.</p> <h2>Note:</h2> <p>A disclaimer appears in a text box reads:</p> <h2>On screen:</h2> <p>INVESTMENT AND INSURANCE PRODUCTS:</p> <ul> <li>NOT A DEPOSIT</li> <li>NOT FDIC INSURED</li> <li>NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY</li> <li>NO BANK GUARANTEE</li> <li>MAY LOSE VALUE</li> </ul> <h2>Lauren Simmons:</h2> <p>In my financial career, I've taken over the New York Stock Exchange, and I know how to make money move.</p> <h2>On screen:</h2> <p>Woman walks through double doors</p> <h2>Lauren Simmons:</h2> <p>Now, I'm inviting you to get all the way in your bag and never look back.</p> <h2>On screen:</h2> <p>A pale pink screen with a title expands: With The Bag To Match and a title with SpringHill and J.P. Morgan Wealth Management</p> <h2>On screen:</h2> <p>Woman in a white shirt and cherry red leather pants sits in chair next to table with roses in a vase.</p> <h2>Lauren Simmons:</h2> <p>Hey, everyone.</p> <h2>Lauren Simmons:</h2> <p>Welcome to With The Bag To Match, proudly presented by Springhill and J.P. Morgan Wealth Management.</p> <h2>On screen:</h2> <p>A pale pink screen with a title expands: With The Bag To Match and a title with SpringHill and J.P. Morgan Wealth Management</p> <h2>On screen:</h2> <p>Woman in a white top and dark cherry red leather pants sits in a yellow-green velvet chair next to table with roses in a vase.</p> <h2>On screen:</h2> <p>Host’s title and Career explanation appears in pale pink with a multi-colored line between the two titles and says: Lauren Simmons, Former NYSE Trader</p> <h2>Lauren Simmons:</h2> <p>I'm your host, Lauren Simmons.</p> <h2>Lauren Simmons:</h2> <p>On this show, we sit with extraordinary women as they share insights on how they claim their financial power and celebrated their wins.</p> <h2>Lauren Simmons:</h2> <p>Later, our J.P. Morgan Wealth Management advisor will deepen the conversation with more insights.</p> <h2>Note:</h2> <p>Background music plays.</p> <h2>On screen:</h2> <p>Graphic overlay in various shades of orange and pink</p> <h2>On screen:</h2> <p>Woman in Black blazer and black shirt stands in front of a shelf filled with various handbags and strikes a pose</p> <h2>Lauren Simmons:</h2> <p>In today's episode, I have the honor of sitting down with a true luminary in the entertainment industry, a multi-talented Emmy-winning TV personality.</p> <h2>Lauren Simmons:</h2> <p>Join me in welcoming the extraordinary Adrienne Bailon-Houghton.</p> <h2>On screen:</h2> <p>Graphic overlay with brown text appears</p> <h2>On screen:</h2> <p>How I Got The Bag</p> <h2>On screen:</h2> <p>Graphic transitions out and we see Woman in black blazer and a contextual graphic with text and a multicolored bar appears</p> <h2>On screen:</h2> <p>Adrienne Bailon-Houghton</p> <p>Singer, TV Personality</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I initially got the bag when I was 15 years old and joined a girl group called 3LW.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>From there, I then joined a girl group called The Cheetah Girls on Disney Channel, fumbled the bag a few times, and got another bag with another girl group called The Real, a daytime television show.</p> <h2>Note:</h2> <p>Pink and orange Graphic transition</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I would say my superpower in business would be just living authentically and knowing the things that I love and that I need and bringing that to the marketplace.</p> <h2>Note:</h2> <p>Pink and orange Graphic transition</p> <h2>On screen:</h2> <p>The two women shown previously sit in velvet chairs, one chair is greenish yellow and one chair is purple. They are in a loft setting with a large pink and orange stained glass window and potted plants behind them.</p> <h2>Lauren Simmons:</h2> <p>Well, first off, thank you, Adrienne, for being here.</p> <h2>Lauren Simmons:</h2> <p>I am so excited to dive into this conversation.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Same, same.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I'm super excited to talk all things financial.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I feel like I'm going to learn a lot today as well.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Lauren Simmons:</h2> <p>I'm going to learn from you.</p> <h2>Lauren Simmons:</h2> <p>It's a way to be mutually beneficial to each other.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I love it.</p> <h2>Lauren Simmons:</h2> <p>You've been working since you were 14 years old.</p> <h2>Lauren Simmons:</h2> <p>At that age, what was your understanding of the money that you were making?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Honestly, I had no concept of the money I was making.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I think when you start a career at like 14, 15 years old, and for me, my first real job, I used to sweep floors at a Dominican hair salon when I was like 14, and that was so that I could get my hair blown out, so I never had any real money exchange there.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>It was like, okay, I'm sweeping these floors, I'm going to get a free blowout with this hair right here, and then my next job was being in 3LW.</p> <h2>On screen:</h2> <p>Photo of a younger Adrienne and the other two members of on a red carpet. Photo is overlaid on a background of various shades of pink and orange.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I think joining a girl group and joining the industry, I remember telling my mom, I would do this for free.</p> <h2>Lauren Simmons:</h2> <p>Oh wow.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And she was like, do not walk around telling people that.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>She was like, that is not what we're going to do.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>We are not doing this for free.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>But the reality is, I felt so honored, and it was an opportunity of a lifetime.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I think when you grow up from very humble beginnings, I grew up in the projects in the Lower East Side of Manhattan, and we didn't have much, so just being given that opportunity at 15 years old, I really didn't care about what I was getting paid.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I was just excited to be there, and I regret that.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I kind of regret not being in the know and understanding, okay, I just got my first record deal.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>What does that mean?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>The fact that I actually wasn't signed directly to the label, and that it was through a production company, and they received our advance, and what that meant.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I mean, there was so much that I learned in a short period of time of just simple things like the fact that the money that you get is actually to create the album, and that you will have to pay that back.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And so I think at 15 years old, I was clueless and learning little by little.</p> <h2>Lauren Simmons:</h2> <p>That actually is a really good point.</p> <h2>Lauren Simmons:</h2> <p>Do you remember the first lesson you ever learned about managing money?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I learned a lot about managing money, but the one that impacted me the most, that really made me say, okay, Adrienne, you've got to get your finances under control.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>You've gone too long making money to not understand what your money is doing.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And that actually was when I joined The Real, I had to relocate to L.A., and I went into this amazing building across from The Grove.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I was like, oh, I picked a fly spot.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I went into the leasing office to sign up and be like, okay, this is the apartment I want, I just got a tour of it, and now I'm ready to sign my lease.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>They were like, amazing, we're just going to run your credit, and we've got paperwork here.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Well, my credit was tragic, and they ended up saying, listen, we can't lease you this apartment, is there anyone that can co-sign for you?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I remember standing in that leasing office just thinking to myself, wow, I would consider myself a successful person, I've done really well for myself, I've been in this industry for such a long time. I'm about to be on a daytime talk show, like this is major, and I can't even get the apartment of my dreams because I need someone to co-sign.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And at the time, I remember being like, why is my credit bad, not even understanding why it was bad.</p> <h2>On screen:</h2> <p>Stay tuned for more with our J.P. Morgan Wealth Management Advisor</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Turns out, you've got to return those cable boxes when you move, so that was what had been killing my credit, and I didn't even know it.</p> <h2>Lauren Simmons:</h2> <p>Stop.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I wasn't checking my voicemail. They definitely had called and sent messages. I wasn't even aware, just living my best life, and here I am with terrible credit.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Thank God my sister actually co-signed for me, but that embarrassment in that office really told me, Adrienne, you've got to get a hold of these things. And then I had to ask myself, why wasn't I aware of it?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And the reality is, I think, when we talk about generational wealth, my mom didn't know enough to teach me, and so I, in that moment, was like, I want to be knowledgeable enough so that one day when I have children, I can impart this wisdom on them so that they don't have to go through the same things.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>When I turned 18 years old, and like, credit cards came in the mail, I think, coming from, you know, first generation in this country, my mom was like, you don't want to end up in debt.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And told me not to sign up for any of the credit cards, and that everything I did really was cash, or my debit, and what does that land me?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>That lands me at a really low credit score, because I've never proven that I can be trusted with money to pay it back.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Lauren Simmons:</h2> <p>I want to hear more about your experience growing up in an immigrant family, because the approach to money is often very different.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>So different.</p> <h2>Lauren Simmons:</h2> <p>How did your upbringing influence your views on money today?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>When we talk about being from an immigrant family, I think that there was a lot of things we didn't know.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And again, my mom was always, like, too cool to maybe ask the questions, and maybe that's where I learned, like, okay, we're just trying to fit in here.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I wish that I would have, again, asked more questions, but I wish that my mom was more knowledgeable, because I really think that could have guided me.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>So it's kind of funny that, like, now I'm the one teaching my mom.</p> <h2>Lauren Simmons:</h2> <p>Teaching her, yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I feel really proud of that, but that won't happen to the next generation, that my son, literally from now, I'm like, how can we start savings accounts for him at this -- he's a year old, and I'm thinking ahead of, you know, a college fund.</p> <h2>On screen:</h2> <p>Photo of Adrienne and her year-old son. Image is overlaid on a background of various shades of pink and orange.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>How do we start raising money for his education?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I'm excited about that.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I'm really excited about, he will now be second-generation in this country, and how that is going to be just so different for him.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Note:</h2> <p>Background music plays.</p> <h2>On screen:</h2> <p>Graphic overlay in brown slides in over the two women and lands on pale pink background with darker pink decorative shapes</p> <h2>On screen:</h2> <p>The Confessional</p> <h2>On screen:</h2> <p>Adrienne shakes hand with man in producer’s headset and black jacket. She is sitting in a chair in front of a multicolored square paned stained glass window as the man waves for another man to check the woman’s mic and a woman with blue braids and a camo jacket checks her make up. There are two tropical potted plants in the background on either side of the window. A production assistant claps the slate for the episode, it says “12:25: 10/15, Adrienne B. With the Bag To Match The Confessional”</p> <h2>On screen:</h2> <p>A Spend I can’t resist is…</p> <h2>Adrienne Bailon-Houghton:</h2> <p>A spend I can't resist would be family vacations, like, I am all about spending money on dope experiences that you will never forget, making the memories, and making them luxurious.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>So let's go there first class, when we arrive, let's stay at an amazing hotel, and on top of that, maybe let's do, like, a boating excursion.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Yeah, these things cost money.</p> <h2>On screen:</h2> <p>Pink and orange graphics slide in and reveal woman in black shirt and yellow skirt sitting and text appears on screen.</p> <h2>On screen:</h2> <p>I Blow My Budget On…</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Woo, so I have spent the last two years renovating my home here in New York, and when I tell you I have gone above and beyond budget, I had no idea that home renovations -- like, you literally find the next thing that you want to do, like, I literally just completed the whole house, and I just got off the phone with my husband, and he's like, maybe the garage next, maybe the laundry room next.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>So I feel like it is a never-ending project, and trust me, you will always go over budget.</p> <h2>On screen:</h2> <p>Pink and orange graphics slide in and reveal woman in black shirt and yellow skirt sitting and text appears on screen.</p> <h2>On screen:</h2> <p>My Version of Girl Math is…</p> <h2>Adrienne Bailon-Houghton:</h2> <p>My version of girl math would definitely be about fashion, okay?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>So here's the thing, if I'm purchasing something, I have convinced myself that I am spending a dollar a day to wear it, so if I'm like, okay, this is a classic piece, we can wear this for years, a dollar a day, multiple years, sounds just about right.</p> <h2>On screen:</h2> <p>Pink and orange graphics slide in and reveal the Lauren and Adrienne sitting in velvet chairs, one chair is greenish yellow and one chair is purple. They are in a loft setting with a large pink and orange stained glass window and potted plants behind them.</p> <h2>Lauren Simmons:</h2> <p>Everyone has their strengths and weaknesses when it comes to managing money.</p> <h2>Lauren Simmons:</h2> <p>What's one thing that you want to get better at in the future?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>One of the things that I definitely want to get better at is not being afraid to invest.</p> <h2>Lauren Simmons:</h2> <p>Don't be.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I want to get into it.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I want to, like, have a portfolio that's, like, interesting, and that I can have conversations with people about it.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Like, that's something I want to get better at. I want to get better about learning, like, when I hear about you talking about Wall Street, I'm like, I want to know, like, all of those things, so I think I might get, like, one of those, like, Wall Street for Dummy Books.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Trading and investing.</p> <h2>Lauren Simmons:</h2> <p>You could buy my book. That's a selfish plug, but I could teach you investing 101.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I will, but those are the things I really want to get into.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I feel like at this point, I have money where it's, like, I don't want it just to sit there, and that I want it to actually -- money makes money.</p> <h2>Lauren Simmons:</h2> <p>Yeah, it does, and there's so many different asset classes that you can invest in.</p> <h2>Lauren Simmons:</h2> <p>I think people get so fixated on, I'm just going to invest in the stock market, but that's just, like, the tip of the iceberg.</p> <h2>On screen:</h2> <p>A purple graphic with pink text slides in and the text reads:</p> <h2>On screen:</h2> <p>Stay tuned for more with our J.P. Morgan Wealth Management Advisor</p> <h2>Adrienne Bailon-Houghton:</h2> <p>For sure.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I know there's still so much more for me to learn, and I'm excited about it.</p> <h2>Lauren Simmons:</h2> <p>As you know, this show is called With the Bag to Match.</p> <h2>Lauren Simmons:</h2> <p>There has always been this dichotomy between treating yourself and saving your dollars.</p> <h2>Lauren Simmons:</h2> <p>How do you find balance between those two things?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Whew. I think even what we just said right now, like, I now have started this new thing of being, like, what really matters, and when I spend my money, I try to think big picture.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>When I think about -- so many of us don't realize that the small things end up adding up and becoming big things.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>My mom told me that she watched an episode of Oprah's show, and she was like, did you know that Oprah signs all of her own checks, and she goes over everything she spent? So that was my mom preaching to me as I got older, she's like, you should do the same thing.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I actually listened to my mom, so I do do the same thing, and I sit down with my manager, and we'll go through my spending, and I'll actually look at everything.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And it's so wild when I looked at the fact that, like, I had all these apps that I was paying for, that I had no idea was recurring payments.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I'm like, these $24 a month is adding up.</p> <h2>Lauren Simmons:</h2> <p>It starts adding up, yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>The amount of food that I was ordering that, like, you end up over-ordering, and I'm like, what are all these?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And recognizing that there is a difference between having, like, a luxury experience and just the things that you're being wasteful.</p> <h2>Lauren Simmons:</h2> <p>Yeah.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And that's how I find the balance, is I don't want to be wasteful with my money. Yes, do I think I work really, really hard, and I deserve to splurge on certain things?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I need to decide what those things are, and then I need to decide what those things are not.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Like, I think even recognizing what makes sense to invest in when you're talking luxury.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>So I'm like, I will invest in jewelry.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>That's something that to me is important, and I also recognize it can be passed down, and that it doesn't lose its value.</p> <h2>Lauren Simmons:</h2> <p>I am a handbag girl, but I tell, even on this set, like, I tell everyone, I only buy limited edition handbags.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>See?</p> <h2>Lauren Simmons:</h2> <p>And the resale value on those are really good, and I can eventually pass it down.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>That's what I'm talking about. Yeah.</p> <h2>Lauren Simmons:</h2> <p>And then there are certain brands that we can't name any names, right?</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Yes. But they don't hold value at all.</p> <h2>Lauren Simmons:</h2> <p>At all. And then there are others that absolutely hold their value, and they --</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Some even go up.</p> <h2>Lauren Simmons:</h2> <p>No, I have a few.</p> <h2>Lauren Simmons:</h2> <p>And so there is a market where you can absolutely invest in luxury things and also get a return on your investment.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>For sure.</p> <h2>Lauren Simmons:</h2> <p>Tell me about some of the other ways you're investing.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I think one of the hugest investments I've ever made was deciding to become an entrepreneur and starting my own fashion line with La Voute.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>The first time we ever sold out and me actually seeing, you know, you use these apps that they tell you how much you're selling in real time.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>And I remember watching us sell out within an hour of launch and watching literally the investment I made and seeing what I got back. I was like, oh my gosh, why didn't I think of doing this, investing in myself?</p> <h2>On screen:</h2> <p>Photo of Adrienne posing in a white sweatsuit. Photo is overlaid on a background of various shades of pink and orange.</p> <h2>On screen:</h2> <p>Photo of Adrienne posing in a La Voûte all black ensemble. Photo is overlaid on a background of various shades of pink and orange.</p> <h2>Lauren Simmons:</h2> <p>That part.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I was like, oh my gosh.</p> <h2>Lauren Simmons:</h2> <p>That is a real investment.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Yeah.</p> <h2>Lauren Simmons:</h2> <p>There are many different ways that you can do that.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Yeah.</p> <h2>Lauren Simmons:</h2> <p>Being an entrepreneur, getting education, self-care, there are many different ways that you can invest in yourself.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Absolutely.</p> <h2>Lauren Simmons:</h2> <p>But investing in yourself is one of the most important things that you can invest in.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>For sure.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>I think it's a never-ending journey of learning, and I'm forever a student, and I think that just makes it that much more fun.</p> <h2>Lauren Simmons:</h2> <p>Forever a student, that is the key word.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Yeah.</p> <h2>Lauren Simmons:</h2> <p>You are always learning.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Always.</p> <h2>Lauren Simmons:</h2> <p>Adrienne, thank you so much for being here today.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Thank you.</p> <h2>Lauren Simmons:</h2> <p>You've truly been inspiring.</p> <h2>Lauren Simmons:</h2> <p>Your journey and accomplishment speaks volumes in your drive and determination.</p> <h2>Lauren Simmons:</h2> <p>I'm excited to see what ventures lie ahead for you.</p> <h2>Adrienne Bailon-Houghton:</h2> <p>Me too.</p> <h2>On screen:</h2> <p>Pink and orange Graphic transition to a woman in a navy blue blazer and white shirt striking a pose. A contextual graphic with text and a multicolored bar appears</p> <h2>On screen:</h2> <p>Nina Jackson</p> <p>J.P. Morgan Wealth Management Advisor</p> <h2>Lauren Simmons:</h2> <p>And now it's time to dive into the world of finance with our JP Morgan Wealth Management Advisor.</p> <h2>Lauren Simmons:</h2> <p>Join us as we demystify the financial landscape and help you Make It Make Sense.</p> <h2>On screen:</h2> <p>A Pink bubble graphic expands to say “Make It Make Sense”. The graphic disappears to reveal the woman in the green jumpsuit, Lauren, but she is now wearing a red silk blouse and blue jeans. She is sitting across from Nina who is wearing a navy Blue blazer. They are seated in two velvety chairs against a white brick background surrounded by tasteful modern décor and potted plants.</p> <h2>Lauren Simmons:</h2> <p>I'm here with Nina.</p> <h2>Lauren Simmons:</h2> <p>Thank you so much for being here.</p> <h2>Nina Jackson:</h2> <p>Thank you for having me.</p> <h2>Lauren Simmons:</h2> <p>Adrienne talked about how her credit took a toll on her financial wellness.</p> <h2>Lauren Simmons:</h2> <p>How common is it for people to have money in the bank but still find their credit score is lacking?</p> <h2>Nina Jackson:</h2> <p>Oh my gosh.</p> <h2>Nina Jackson:</h2> <p>It's so common.</p> <h2>Nina Jackson:</h2> <p>And here's why.</p> <h2>Nina Jackson:</h2> <p>They live by the notion that cash is king, and most times that is a mind frame that is passed down from generation to generation.</p> <h2>Nina Jackson:</h2> <p>In some instances, it could be true, right?</p> <h2>Nina Jackson:</h2> <p>And they just don't pay attention to the credit aspect of things.</p> <h2>Nina Jackson:</h2> <p>I love how transparent Adrienne was in her story about this.</p> <h2>Lauren Simmons:</h2> <p>Very vulnerable, yeah.</p> <h2>Nina Jackson:</h2> <p>And what's very interesting is that most people realize that credit is important in the home buying process.</p> <h2>Nina Jackson:</h2> <p>And one of the things that I want listeners and viewers to understand is that when you're thinking about home ownership in particular, you've got to look at it like more of a four-legged stool.</p> <h2>Nina Jackson:</h2> <p>You've got income, you've got assets, so your reserves, you've got the collateral itself, so the home that you're purchasing, that is underwritten as well, and then you've got credit.</p> <h2>Nina Jackson:</h2> <p>And any of those legs on that stool that's missing could tank the whole deal.</p> <h2>Nina Jackson:</h2> <p>So think about that.</p> <h2>Nina Jackson:</h2> <p>Income, assets, credit, collateral.</p> <h2>Lauren Simmons:</h2> <p>Discussing investing in Black and Brown communities doesn't happen all that often.</p> <h2>Lauren Simmons:</h2> <p>What would you say is the biggest hurdle in getting the community to talk about money more openly?</p> <h2>Nina Jackson:</h2> <p>How many times have we heard it, don't tell everyone your business or don't let anyone know your business?</p> <h2>Nina Jackson:</h2> <p>That's the thing.</p> <h2>Nina Jackson:</h2> <p>We have to be able to talk about it more openly.</p> <h2>Lauren Simmons:</h2> <p>Get comfortable with being uncomfortable.</p> <h2>Nina Jackson:</h2> <p>And you know what it is.</p> <h2>Nina Jackson:</h2> <p>I think that we tie so much of our wealth to our personal worth and our identity that some people are just standoffish as it relates to communicating about their money and their intent behind the money and their investment strategy or what they know or don't know.</p> <h2>Nina Jackson:</h2> <p>It's been a very sensitive and touchy subject, but I think it's been passed down generationally.</p> <h2>Nina Jackson:</h2> <p>The best thing to do is just start talking about it, even if you just want to start with a financial professional who doesn't know you, who is very objective.</p> <h2>Lauren Simmons:</h2> <p>That's not biased.</p> <h2>Nina Jackson:</h2> <p>Not biased.</p> <h2>Lauren Simmons:</h2> <p>Professional.</p> <h2>Lauren Simmons:</h2> <p>They're here to help.</p> <h2>Nina Jackson:</h2> <p>Here's what I can do to help you, right?</p> <h2>Nina Jackson:</h2> <p>And then as you learn more and experience more, then sharing that with your local family or your community and just have those more transparent and vulnerable conversations around it.</p> <h2>Lauren Simmons:</h2> <p>Pass the knowledge on.</p> <h2>Nina Jackson:</h2> <p>That's the name of the game.</p> <h2>Lauren Simmons:</h2> <p>There's power in there.</p> <h2>Lauren Simmons:</h2> <p>Adrienne mentioned tangible investments like home buying and jewelry, but she also mentioned a desire to learn about other forms of investment.</p> <h2>Lauren Simmons:</h2> <p>Can you give us some examples?</p> <h2>Nina Jackson:</h2> <p>Absolutely.</p> <h2>Nina Jackson:</h2> <p>Well, first of all, that's a great question for J.P. Morgan Wealth Management Advisor.</p> <h2>Nina Jackson:</h2> <p>We have all types of investments at J.P. Morgan.</p> <h2>Nina Jackson:</h2> <p>You can do equities or stocks, bonds, exchange traded funds, mutual funds.</p> <h2>Nina Jackson:</h2> <p>We have our core managed solutions.</p> <h2>Nina Jackson:</h2> <p>What a financial advisor will do specifically at J.P. Morgan is take your goals, take your risk tolerance, and then create an investment strategy based on your goals and risk tolerance and your time horizon, of course.</p> <h2>Lauren Simmons:</h2> <p>Nina, as always, I appreciate you so much.</p> <h2>Lauren Simmons:</h2> <p>I feel like I'm learning more and more, so I just want to say thank you so much for your time today.</p> <h2>Nina Jackson:</h2> <p>Thanks for having me.</p> <h2>On screen:</h2> <p>Pink and orange graphics slide transition to reveal Lauren back in the yellow green velvet chair</p> <h2>Lauren Simmons:</h2> <p>That's all we've got for this episode of With the Bag to Match.</p> <h2>Lauren Simmons:</h2> <p>I want to say thank you to Adrienne for stopping by and lending us all of her insights.</p> <h2>Lauren Simmons:</h2> <p>I truly enjoyed our chat.</p> <h2>Lauren Simmons:</h2> <p>And a special shout out to our J.P. Morgan Wealth Management Advisor, Nina, for Making It All Make Sense.</p> <h2>Lauren Simmons:</h2> <p>Please don't forget, the bag is far more than just a fashion statement.</p> <h2>Lauren Simmons:</h2> <p>For us, it's a symbol of financial empowerment.</p> <h2>Lauren Simmons:</h2> <p>Stop by for our next episode as we get into conversation with more amazing women who built their careers With The Bag To Match.</p> <h2>Note:</h2> <p>A bold disclaimer appears on a black screen and reads:</p> <h2>On screen:</h2> <p>J.P. MORGAN WEALTH MANAGEMENT IS A BUSINESS OF JPMORGAN CHASE &amp; CO., WHICH OFFERS INVESTMENT PRODUCTS AND SERVICES THROUGH</p> <h2>J.P. MORGAN SECURITIES LLC</h2> <p>(JPMS), A REGISTERED BROKER-DEALER AND INVESTMENT ADVISER, MEMBER FINRA AND SIPC. INSURANCE PRODUCTS ARE MADE AVAILABLE THROUGH CHASE INSURANCE AGENCY, INC. (CIA), A LICENSED INSURANCE AGENCY, DOING BUSINESS AS CHASE INSURANCE AGENCY SERVICES, INC. IN FLORIDA. CERTAIN CUSTODY AND OTHER SERVICES ARE PROVIDED BY JPMORGAN CHASE BANK, N.A. (JPMCB). JPMS, CIA AND JPMCB ARE AFFILIATED COMPANIES UNDER THE COMMON CONTROL OF JPMORGAN CHASE &amp; CO. PRODUCTS NOT AVAILABLE IN ALL STATES. COPYRIGHT {{copyrightCurrentYear}} JPMORGAN CHASE &amp; CO. ALL RIGHTS RESERVED</p> <h2>Lauren Simmons:</h2> <p>See you next time.</p> <h2>On screen:</h2> <p>Brown, pink and orange graphics slide on to the screen to reveal the Logo for the show that reads: With The Bag To Match.</p> <h2>On screen:</h2> <p>SpringHill x J.P. Morgan Wealth Management</p> <p>Youtube @MAKESPRINGHILL</p>

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