What Does Oprah Know That Mary J Blige Doesn’t?
Another celebrity in the news with money trouble! Sad isn’t it? In the words of Biggie Smalls, “Mo’ Money, Mo’ problems. If I could sit down and have a talk with my girl, and I am a huge fan of her music, I would begin by conducting a financial intervention or what I call a ”Purseonality Makeover.” Here’s how I imagine the conversation starting. “Mary J,” I would say, “Real love and real money are two different things. Girl, we have got to get your mind right.” Here are five steps that we would take to get her financial house in order.
- Get to the bottom of her purse. You cannot change what you will not acknowledge. First we would create her financial statement. Write down everything she owns, and everything she owes. I imagine the numbers won’t look pretty but as least we can create a strategy that reflects reality.
- Create her wealthy vision. Write it down and make it plain. If she could create the perfect future what would it look like? What does she truly value and how much income does she need to generate to make it a reality.
- Financial Fundamentals. Learn how money works. What kind of investments does she need to put in her purse to make her vision a reality? She would come away knowing what her options are in the financial universe, and how to discuss her investment portfolio and retirement plan with her advisers.
- Problems are opportunities. What kinds of negotiations can we use to mitigate the debt and tax liabilities that will allow her to see light at the end of the financial maze she now faces?
- Outlook changes outcome. We would prioritize the next steps she needs to take to truly experience the lyrics she sings about in “Just Fine.”
Finally, we would contact Oprah to ask for referrals to an attorney and accountant that she trusts. Chris Rock had it right in his HBO Comedy Special, “Shaq is rich, Oprah is wealthy.” Oprah understands the difference between wealth and income. At some point you have to learn how to make your money work so you avoid the kind of headlines that show you’re human, but can also be embarrassing.
Are you ready for a purseonality makeover? For more tips, guidance and support on your journey to becoming a wealthy woman, try the free 14-day trial of Deborah’s Purseonal Success Plan at http://deborahowens.com/purseonal-success-plan