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Bobby Burke
Living in New York City. I moved there at 21. I made $2,200 a month. That's what I brought home. And my rent was 2,100. So I was living off 100 bucks a month. I was literally buying a dollar chicken sandwich from the dollar menu at McDonald's a day. And I would split it in half, eat half of it for lunch and half of it for dinner. And that was my meal every day. I was so skinny, my pants fell down. My financial philosophy back then was.
Vivian Tu
What'S up, rich friends? Welcome back to another episode of Net Worth and chill with me, your host, Vivian Tu, AKA your rich BFF and your favorite Wall street girly. So fun update. I'm likely going to be extending my time in Miami, and that means I'm probably going to be finding a new apartment pretty soon. And with a new apartment comes a series of headaches. You gotta find a new place that you like. You gotta lug all of your old stuff to the new place, and sometimes you gotta buy some new stuff to fill the new space you have. And I've always loved the Japanese, Scandinavian, ultra clean, modern refined look. But aside from that, I actually have no clue how to properly design a space or a home. So I called in a friend, and today we are diving into the world where creativity meets cold, hard cash with someone who's become a household name by. By literally transforming households. Everyone, please welcome the man who can transform your space and your whole entire life. He's an interior designer, a writer and entrepreneur, the incredible Bobby Burke.
Bobby Burke
Hello. How's it going? Thanks for having me.
Vivian Tu
Oh, my gosh, what a sultry intro.
Bobby Burke
This is my podcast voice.
Vivian Tu
Okay. I love the deep podcast voice. Obviously, you are an amazing designer and my friend. So before we get started, let's do a fun icebreaker. What is the most expensive piece of furniture or art you have ever sourced or purchased for a client?
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Bobby Burke
I have to say, I never source super expensive stuff I think of. Unless you are an art collector. Unless These are investments. I think of furniture into your home as a depreciating value. It is not maintaining its value. It is losing its value. You don't buy a $60,000 couch and sell it for $60,000. You probably sell it for 500 if you're lucky, or just give it away to get it out of there when you're done with it. So for me, there are so many brands out there that are expensive literally for no reason. You know, Restoration Hardware, for example.
Vivian Tu
That's where all my furniture is from.
Bobby Burke
Girl, you. Yeah, I mean, the markup is insane. Like, I used to work for them years ago. And don't get me wrong, their stuff is beautiful and it is high quality. But you can find other brands that are just as high quality where you're not paying for the mansions that Gary Friedman built for his stores. So again, for me, I always tell people, I'm like, buy quality. But you don't need to buy the rich, the fancy American brands, the, you know, the B and B Italias and those ones that you're literally. It's just like when you go into Louis Vuitton or anything, you know, you're paying for the name. Yes, it's a Wal quality, but can you find that quality elsewhere without paying for the name brand? So to answer your question, as far as furniture art, no, I would say probably the most expensive things would be appliances, because appliances are in your kitchen, and your kitchen and your bathrooms are the two places in your house that you will always get back, if not what you spent on it more than what you spent on it if you're doing really great pieces. So if you're getting that $18,000 sub zero fridge, you know, I just were renovating a place in the desert, and it had a $20,000 sub zero fridge in it that was from 2012. So it was like, well over a decade, and I was still able to sell it for 10 grand.
Vivian Tu
Oh, wow.
Bobby Burke
Yeah. So there are some things like that in your home that don't obviously retain their full value, but they retain a pretty good value. You know, if you're using it for 12, 13, 14 years and you get back half, that's still pretty good. So buy quality. Don't buy name brands for your home. Yeah, if that answers your question.
Vivian Tu
That answers the question and gives us a hot tip like, where should we be looking for really good furniture?
Bobby Burke
I don't. It's funny. I'll say not where, where not to go. I don't necessarily like. I mean, honestly, brands like Crate and barrel.
Vivian Tu
Yeah.
Bobby Burke
West Elm.
Vivian Tu
Yeah.
Bobby Burke
Our house. These are all places that you can get living spaces. And living spaces has a wide range of. You know, there's some stuff that probably isn't gonna last you that long, but they also have really great stuff, too, that's not overpriced. Again, you're not paying for an opulent brand just for the sake of it being opulent.
Vivian Tu
Yeah.
Bobby Burke
You know, like, again, like Restoration Hardware. Like, it is. They have created. Gary has created this amazing brand that is very sought after, that even people like you who are very financially savvy are still like, oh, I want it anyways. It's so pretty.
Vivian Tu
Okay. But can I tell you, it wasn't me who wanted it. It was my husband.
Bobby Burke
Oh.
Vivian Tu
Because they had a restaurant in New York City with the beautiful rooftop with delicious burger. And every time you have to walk through the whole store to get to the rooftop.
Bobby Burke
Gary has done. And again, I worked for Restoration hardware in, like, 2003, the one in the Flatiron district, years and years ago. And the brand has evolved so differently since then. But Gary has created a lifestyle that, just like your husband, you want. You walk in and you're like, oh, this just feels rich. And if that is your thing, great. You know, for me, it's not my thing. I could care less.
Vivian Tu
Yeah. Wow. That's really, really sound advice and I actually want to take it back because you have always been relatively frugal.
Bobby Burke
Always.
Vivian Tu
Yeah.
Bobby Burke
I'm so cheap. It always. It always surprises my friend. And it's funny. I'm. I'm cheap on most things, but then on some things, I'm not. Like travel. I'm not.
Vivian Tu
You want a ball?
Bobby Burke
Experiences. I will spend money on things that my husband and I can share. Experiences. But again, as far as, like, buying, I don't buy name brand clothes. I don't buy name brand furniture. Couldn't care less. So on most things, I am very cheap.
Vivian Tu
Okay.
Bobby Burke
Like, I won't go to expensive restaurants. I get so annoyed spending frivolous money on expensive restaurants. Yeah.
Vivian Tu
So frugal. And kind of speaking of like a shoestring budget, you actually built your design empire from scratch and you moved to New York City with $100 in your pocket and a dream.
Bobby Burke
Yeah. My first job in New York was at Restoration Hardware.
Vivian Tu
Wow. Like, what financial lessons did you learn from those early days when you weren't making that much money? You just moved to a new city. You didn't have anything.
Bobby Burke
I think to me, that was the time of my life where I really realized what was important. And living in New York City as. I mean, I moved there at 21, 100 bucks in my wallet once I paid my first month of rent. And I really realized I didn't. I didn't need much to have a great life. You know, I learned where the open bars were. You know, I learned, okay, if I get to this bar at 8, they have an open bar from 8 to 9, and so I can, you know, get drunk off my ass in that hour. And then I don't have to spend any more money because I don't have money. And I walked everywhere because there was a point where I couldn't even afford the subway. But I still really had a good time. And, you know, so I think that was a time in my life where I really learned, you can still have an amazing life and not spend money. Don't get me wrong, money makes the world go around. It's great to have it. But it made me think, find where those important things was, which, again, to me is experiences.
Vivian Tu
What was your financial philosophy back then? Was it the same as it is now?
Bobby Burke
Oh, my financial philosophy back then would survive. I mean, I remember again, when I was working at Restoration Hardware, that first job I would. I was walking up from the stock room, the stairs one day, and my pants fell down.
Vivian Tu
Okay.
Bobby Burke
Because I was so skinny.
Vivian Tu
You had lost so much weight.
Bobby Burke
I lost so much weight because I was literally buying a dollar chicken sandwich from the dollar menu at McD and I would split it in half, and I would eat half of it for lunch and half of it for dinner, and that was my meal every day because my. I made 2,200amonth. That's what I brought home. And my rent was 2100. And so I was living off 100 bucks a month. Luckily, my rent, like, included utilities and stuff, but I had gotten so skinny, and I couldn't afford to buy a belt because I literally had no disposable income. And so I'm walking up the stairs, and literally, I. I had stuff in my hands. Like, I was carrying stuff up for customers. And so I couldn't hold onto my pants like I normally could, and they just whoop right down. And it's funny.
Vivian Tu
Sitcom.
Bobby Burke
Yeah, it's funny. A friend of mine who I. Who worked there, who's a friend of mine to this day, Cynthia, she saw it. And just to this day, she still laughs about it. She's like, you remember when you were so skinny, your pants were falling down? But, yeah. So my. My financial philosophy back Then was just survive. There was no, there was no saving.
Vivian Tu
There was no, there was no spending on experiences.
Bobby Burke
No, no, not at all.
Vivian Tu
When did you feel like was like the first turning point of, you know, I'm out of survival mode, I can start to feel a little bit more.
Bobby Burke
Comfortable, you know, in New York. It's funny cause in New York in your 20s and in your early 30s, you know, life is tough. You're living in a 300 square foot walk up apartment with roaches and it's fine. Yeah, the struggle is real. Cause you're like, I'm young, I'm in New York City, it doesn't matter. Like this is part of the experience. So it never bothered me. But then I got in my mid-30s and my stores were successful. And at that point my husband was out of med school and was finally making some money. Excuse me. But life was still a struggle. I was like, wait, New York, why are you so mean? Why are you so mean? Why are you so mean? And it's funny, we were talking about Miami. We started spending more time in Miami and in la because I had stores in both of those cities. And I started to realize that I had Stockholm syndrome and my captor was New York City. And I realized I'm like, wait, I'm so in love with this city that just uses and abuses and beats me up. You know, getting on the trains, a fight. Getting in the elevators, a fight. Walking down the sidewalks, a fight. And so even though we were doing really well, I think it wasn't until we moved to LA that I finally was like, oh, I had some breathing room. You know, I started because, you know, obviously LA is not cheap by any means, but compared to New York, it definitely was.
Vivian Tu
Yeah, for sure. I want to take a quick pivot and utilize your subject matter expertise. Okay. We've seen a lot of headlines. Tariff this, tariff that. Where do you feel about, you know, where that's going to impact your design business? But also just the broader, you know, economics of furnishing and designing a home greatly.
Bobby Burke
I mean, we are, our suppliers have already been sending out emails that get your stuff now. Because prices are going to be increasing, you know, a huge chunk. I mean, all of, almost all of restoration hardware furniture comes from Vietnam. Good friend of mine is the owner of the factory that makes almost all of it. And it's 40% tariff. You know, we saw the day the tariffs were announced, Gary Friedman was getting interviewed by. I forget what financial show I was watching that day. And they're like, what do you Think about what's happening to your stock price. And he hadn't seen it yet, and it had dropped. I think it had. Let's. I don't. Don't quote me on the exact number, but let's say it was selling at 200. It had dropped down to like 40. And you saw him see it on the monitor, and he was like, holy. Can I come? He's like, holy shit. You know, it. Just because people realize this is going to drastically affect their business, it's going to affect, you know, every business. Every business, but especially the home business. There's not a lot of home stuff that's made in the States anymore. You know, there are a lot of upholstery actually is made in the state still.
Vivian Tu
Yeah.
Bobby Burke
But case goods, which are tables, dressers, nightstands, wood, stuff like that, it's mostly made overseas. It's China, it's Vietnam. If it's metal, it's made in India. And all those places now have tariffs.
Vivian Tu
Why is that? Why don't we make furniture really here anymore?
Bobby Burke
We used to. Yeah. It's just if the cost.
Vivian Tu
It got expensive.
Bobby Burke
It got expensive. Also, we don't have the artisans anymore. You know, like, I'm sure you saw that article about the Louis Vuitton factory in Texas where they throw out 80% of everything that's made because the States does not have the artisans that this knowledge and this talent and this artistry has been passed down for centuries in Europe. Like, it's something that they've really retained. We haven't here. We've gladly shipped everything off overseas, and that's that. And so not only is obviously cost of living higher, so wages are higher, materials are still coming from overseas. It's not like the materials are made here. There's fabrics aren't made here anymore, metal springs aren't made here anymore. All still coming from overseas. But just the level of artistry that's just not there anymore to mass produce furniture again. There are still quite a few factories that manufacture specifically upholstery, but there's just not enough people that know how to do it to bring it back the way it used to be.
Vivian Tu
What is your biggest tip for folks now in today's reality, when they're shopping to furnish or design their next, you know, home or apartment? Like, do you have any good tips financially wise? Yeah.
Bobby Burke
No.
Vivian Tu
Really? Okay.
Bobby Burke
Yeah. Just because it's. At the end of the day, it's about your budget. It's what can you spend? So my advice is to stay within your budget. You know, if you have to pivot because prices have went up for tariffs, if you don't have the money to increase your budget, don't, don't be house poor.
Vivian Tu
Is there something better to be spending on like soft furniture versus hard furnitures or, you know, you mentioned earlier, appliances. Focusing on the bathroom and focusing on.
Bobby Burke
Things that, especially if this isn't your forever home, focusing on the things that are going to retain their value and increase the value of your home. That BnB Italia sofa, that's not going to increase the value of your home. That sub zero refrigerator though, will.
Vivian Tu
Yeah, got you. Let's talk now a little bit about your illustrious media career. So most folks watching or listening to this from home probably know you from Queer Eye. And I've got a point blank question.
Bobby Burke
Okay.
Vivian Tu
Did you make a lot of money doing it?
Bobby Burke
So the first two seasons I definitely lost money being on the show.
Vivian Tu
Lost money.
Bobby Burke
Lost money because, I mean, they were paying us basically nothing.
Vivian Tu
Yeah.
Bobby Burke
And the amount of money that I was losing from not running my company and being gone because we had to move away and we were like, you.
Vivian Tu
Couldn'T be the CEO of Bobby.
Bobby Burke
No, not at all. Because we were gone for five months. So half the year we were gone. And then we were on just constant press tours, which was great. But, yeah, the first two seasons I definitely lost money. Season three and four, I probably broke even. To be frank, they never really paid us well, you know, compared to what they pay scripted stars, I mean, we made a single digit percentage.
Vivian Tu
Yeah.
Bobby Burke
Obviously what it did, though, was open up doors for working with brands, working with companies, you know, things like that. So that's where, you know, I remember over the years, fans would get annoyed with the Fab Five because we were often promoting brands, promoting companies, doing brand partnerships. And they're like, we're just so sick of this. And we're like, well, girl, we don't make money off the show. Like, this is our.
Vivian Tu
How do you pay rent?
Bobby Burke
Yeah. How do you think we continue to do the show?
Vivian Tu
Yeah, yeah. Looking back, do you think the exposure and what it has given you was worth it?
Bobby Burke
Oh, absolutely, yeah, yeah, yeah. Absolutely.
Vivian Tu
Yeah. So it was a win.
Bobby Burke
Yeah. Oh, yeah, yeah, yeah, yeah, yeah. It was. Again, it was tough the first few seasons.
Vivian Tu
Yeah.
Bobby Burke
But the doors that it has opened for other things. Absolutely. Yeah. I mean, you can't pay for that type of exposure. We got really, really lucky to find lightning in a bottle. And the show came out, you know, right at a very defining moment in the world. You know, Trump had just become president the first time, and people were really distraught, and everybody was each other's throats like they are again. And we were this happy feeling of, you know, five gays walking into red states and getting along and, like, meeting people in the middle and being humans instead of political affiliations. And, you know, it really became a cultural phenomenon that I, Yeah. Never regretted doing.
Vivian Tu
Yeah. Aww. I love that ultimately you did decide to leave the show. This was, you know, kind of like the reboot of a franchise that you had really helped to build into a very, very successful thing. What was the thought process that went into that? Like, was it a certain number you had to hit in your bank account to feel comfortable to do it?
Bobby Burke
No. I mean, for me, it was just time, you know, we had signed up for. And including the season we did in Japan, nine seasons. And in my mind, that was always the end point.
Vivian Tu
Yeah.
Bobby Burke
You know, and, yeah, to me, that was just always the end point. And that's when I had made the decision to leave. That's when my husband and I had decided that's when I was going to leave. And, you know, my castmates decided to keep going, which is great. Good for them. But it wasn't a financial decision at all because, again, like, we didn't make a ton of money from that show, you know, and I have my design business, which I had before Queer Eye, so. So it's. Yeah. And I'm doing other shows now. I can't talk about really one of them, you know, strikers that I'll be acting in. So I'll be getting into scripted. I have some new renovation shows coming up. But, yeah, it was just time. Like, in my mind, there was always an end date. You know, I personally think that's when the show should have ended, because that's kind of when the show was on its high. But, hey, to each their own.
Vivian Tu
And we talked about this a little bit when you just walked in when we were chatting as friends. Your husband and you, both of you are incredibly successful. Thank you. You kind of came from. Started from the bottom. Now we're here together. Did your decision to leave the show, was that ever impacted by the fact that you're like, hey, you have made a lot of concessions so that I can do this. Now it's time for me to really support you and your medical career or, like, how do you guys balance both being a power couple?
Bobby Burke
My husband works one or two days a week now.
Vivian Tu
Okay. Sucrose pop.
Bobby Burke
22 years ago, when I thought I got me a doctor, I'm like, I'm never gonna have to work. Who would have thought he would be the one that got to retire early?
Vivian Tu
Yes.
Bobby Burke
You know, and you were Ali Wong. Yeah. We were talking about it, though, earlier, before we started recording that. It actually all stemmed from the fact that when I was away watching Queer Eye. When I was away filming Queer Eye and watching it, we would go months without seeing each other. And, you know, we've been together for 22 years. It just. It didn't work for us. So in order for me to be able to keep doing that show, he got rid of some of the offices that he was a surgeon at. And, you know, luckily for both of us, because I can't. That one day a week he works. I can't stand it. He was working today, and I don't like it. I wish he just wouldn't work at all.
Vivian Tu
You're like, more attention me, please.
Bobby Burke
No, no, I just.
Vivian Tu
We.
Bobby Burke
22 years later, we still enjoy being together, you know, and don't get me wrong, he also still goes to New York once a week every single month. And he has an office in Darien, Connecticut, that he does cosmetics in, and he teaches trauma surgery at Elmer's Hospital in New York. So he still does work. He's just got to, like, retire a little bit early. Semi retire a little bit early. So, yeah, I think I had. No. There's no concessions I've had to make now for him because he's just. He's living a great life. I mean, we both are. We both are. Yeah.
Vivian Tu
Yeah.
Bobby Burke
Again, I wouldn't want him. I wouldn't want him to go back to work full time. Neither would our daughter. Yeah. Which is a dog, by the way.
Vivian Tu
Yeah. I was like, wait, I did a lot of research. I didn't see this daughter in the research.
Bobby Burke
She's a dog. She's a dog.
Vivian Tu
She's fluffy. That's so funny. And I actually want to take this in a little bit of a different direction.
Bobby Burke
Sure.
Vivian Tu
Because we got a little peek inside. I read an interview. You said that you keep a super tidy wallet, which was, in fact, the least surprising thing I've ever heard about you because you just give off organization energy.
Bobby Burke
So why was that surprising, though?
Vivian Tu
No, it wasn't. It was the least surprising thing.
Bobby Burke
Oh, okay.
Vivian Tu
But it said that you had two American Airlines credit cards, a debit card, your license, and a Costco membership.
Bobby Burke
Let's see.
Vivian Tu
Is that still the case?
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Bobby Burke
Two American Airlines.
Vivian Tu
Don't show the camera your credit card number.
Bobby Burke
Two American Airlines and Amex. Okay, let's see my card, card, debit, another Amex and my license.
Vivian Tu
Your driver's license?
Bobby Burke
Yeah, and Costco's digital now.
Vivian Tu
Oh, wow. So you really do still keep such a tight wallet.
Bobby Burke
Yeah, yeah, I could never, I could never.
Vivian Tu
How did you decide that those were the cards that you were going to have in your wallet? And what do you largely spend your money on these days?
Bobby Burke
So the American Airlines ones, I've been flying with American Airlines since 1996, I think.
Vivian Tu
Did they give you concierge key yet?
Bobby Burke
I am concierge key.
Vivian Tu
Ah, I'm so jealous.
Bobby Burke
Honestly. Honestly. Better than winning an Emmy. I woke up, I was in Vietnam for work and I woke up in the hotel one morning and I looked at my email and I had got concierge key and I was like, like, literally I was more excited than when we won an Emmy.
Vivian Tu
Like, it's crazy about it.
Bobby Burke
You know, if you travel a lot. Yeah, traveling is rough. And so when, you know, when you're very loyal to an airline, they take very good care of you. And concierge key is their, their unpublished status.
Vivian Tu
There is no level that you can get to. They just have to invite you.
Bobby Burke
Yes. And it's, it's based on spin and who you are and this and that. And luckily, you know, six years later, I still have it. But every year around March, I'm like.
Vivian Tu
Oh, God, they can kick you out of it.
Bobby Burke
Yeah, yeah, yeah. One day you have it, one day you don't. I have a friend that just recently lost it. She was dead. Devastated. Yeah, I would cry.
Vivian Tu
I think that would actually be worse than not having it to begin with because now you've tasted, you've lost love.
Bobby Burke
And never had it. How's it go? Did you ever have love?
Vivian Tu
I don't ever.
Bobby Burke
You lost Kier, but never had it. Did you ever have Kier at all? No. Again. I've been flying with American for years. I'm very loyal. I. You know, I have. I've learned a long time ago one way to save money is to be loyal to brands, hotels, airlines. You know, people are like, oh, well, sometimes the tickets are more. I'm like, yes. But I mostly always get upgraded. You know, I always get taken care of. So if you average it out, you're actually saving a ton of money.
Vivian Tu
Yeah. And with. Just so people understand the magnitude of this. I was on a plane one time, and there was one passenger who had not yet boarded the plane. And I was like, why aren't we taking off? And it was a concierge key passenger, and they held the plane for. For this person.
Bobby Burke
If I have a layover, they'll meet me at the plane door, walk me down the stairs to the Runway, put me in a car, and drive me to the next plane. Oh, in foreign countries, they'll meet me at the plane and walk me through customs and immigration.
Vivian Tu
Let me just stop salivating for a second.
Bobby Burke
Yeah, it's great.
Vivian Tu
So, again, that's crazy.
Bobby Burke
I never lost that. Like, every once in a while, I have to fly another airline, and I'm like, no, I don't want to.
Vivian Tu
Yeah, you're just like a regular. A normie on that airline.
Bobby Burke
Yeah, but, I mean, you know, up until Covid, I was flying half a million miles a year.
Vivian Tu
Oh, wow.
Bobby Burke
Like, in 2019, I flew over 500,000 miles in one year. And so, like, I know everybody at check in at the airport, like, in the lounge. And again, if you're loyal to a brand, they take care of you.
Vivian Tu
Yeah. There was, in fact, one card that we did not see in the wallet just now. Maybe you were too shy to show it to me, but I heard that you have a Bobby Burke custom made, handcrafted, responsibly raised, sustainably grown burrito card entitling you to a free burrito every day for the rest of your life from Chipotle. Is that true? Yes or no. And do you actually take advantage?
Bobby Burke
So. No, because unfortunately, it wasn't for life.
Vivian Tu
What?
Bobby Burke
It expired? I didn't realize that. I thought it was for life. And then, yeah, I went to use it a couple years later, and they were like, oh, this is expired?
Vivian Tu
Yeah, that's why it's not in the wallet.
Bobby Burke
No, that's why? It's not in the wallet. No.
Vivian Tu
I can't believe. That would have been literally the best deal ever.
Bobby Burke
Not only do you get. Did you get a free burrito every day, but also once or twice a year. You could actually use Chipotle Catering as well for a small party. And that was free, too. Wow. Karamo used to always cater his pool parties from Chipotle.
Vivian Tu
And you're like, hey, I also have this card. You need to pick something else.
Bobby Burke
Yeah, yeah, yeah, yeah. No, they. They sent him to us. I think they re upped mine once.
Vivian Tu
Okay.
Bobby Burke
Um, yeah, I'm sure if I reached out again. It's funny. I would go into some Chipotles, and they wouldn't know what to do with it. They're like.
Vivian Tu
They'd never seen one before.
Bobby Burke
No. They're like, what is this? Yeah, but, like, we'd be filming in Kansas City. I'd go into the local one. They're like, wait, this isn't real.
Vivian Tu
They're like, you literally made this on a. On a. Yeah, I'm like, just.
Bobby Burke
Just swipe it. Trust me. Just swipe it. It'll work. It'll work.
Vivian Tu
Yeah. That's crazy. Okay, so I want to talk about today Bobby and potentially future Bobby. Talk to me about all of your different sources of income now, because at one point, you were, quote, unquote, just an interior designer, and at one point, you were focusing on being a TV personality, but now you got a lot of stuff going on.
Bobby Burke
Yeah. So we have, obviously, tv, which money from shows. You get paid by the episode. In tv, it's kind of like being a flight attendant. So if the cameras aren't rolling, you don't get paid. So, like, with Queer Eye, I would go out weeks before the other guys, and I wouldn't get paid for that. I wouldn't get paid until we were actually shooting an episode. Yeah.
Vivian Tu
After this question, I will be discussing justice for Bobby. Continue.
Bobby Burke
And then I have my design firm.
Vivian Tu
Yeah.
Bobby Burke
Which I've had long before Queer Eye. I have licensed partnerships with my. My art that I've created over the years. Rugs that I've designed. I have some other partnerships coming out soon. I have my resorts. We have a resort out in Palm Desert, and we're actually building another one right now.
Vivian Tu
I don't think I knew about that.
Bobby Burke
Yeah, they're small, like, boutique resorts. They sleep 20 to 25 people. And it's basically, you're renting a whole resort just for yourself. The one. It's called Casa Tierra, and it's spread out across three homes on nine acres and you literally, you're getting your own hotel to all your, you and your friends.
Vivian Tu
We will be in fact booking a trip after this.
Bobby Burke
A lot of like yoga retreats. Book it. Wellness retreats, corporate retreats. Because it's cool, because you get to travel together but you don't have to be on top of each other because a lot of times when you rent an Airbnb, you're all in one house. You're like, I don't, I don't want to share a wall with you. So it's fact that it's spread out amongst three homes is pretty cool. And then I have a great marketing and endorsement deals that I do with, with brands. I'm very picky about that though. Like a lot of times I hate to use the word celebs, but celebs will kind of do almost anything.
Vivian Tu
Which by the way, celeb is the correct word.
Bobby Burke
I hate using that word. It's like, it feels icky to me. But I try to, within reason be very true to like if it's not a product that I already use or be a product that I actually will use now. I like it now because you came to me and you're like, hey, do you like this? And if it's something that I would absolutely never use, more than likely I'm gonna say no. Which a lot of times really annoys my team. But I just, I feel like I'm not gonna push something for my fans to do if I'm not doing it.
Vivian Tu
Yeah, definitely. So what do you think is a pro money move that you have made? You know, these days that is going.
Bobby Burke
To take care of future Bobby dividend socks. Obsessed with it right now. Like, yeah. Making more monthly off that than almost anything. It's kind of crazy.
Vivian Tu
Yeah.
Bobby Burke
Yeah. Even with, even with stocks being down right now, you know, it's still a massive monthly income stream that a friend of mine got me obsessed with it recently and I've just been like every month I'm like, oh my God. My God. Free money. Free money.
Vivian Tu
That's your money, Bobby. Actually.
Bobby Burke
Yes, I know, but it seems like free money.
Vivian Tu
When you are investing, how do you decide what you're investing in? Do you have a team helping you? Are you doing yourself?
Bobby Burke
I've always done it myself, so I.
Vivian Tu
Of course, Mr. DIY.
Bobby Burke
Right now it's just mainly high yield dividend ETFs.
Vivian Tu
Yeah.
Bobby Burke
Yeah.
Vivian Tu
Wow. And obviously you own a resort. Have you thought a little bit more about a real estate Portfolio and other things like that.
Bobby Burke
So I had. So I wanted to continue buying real estate, but honestly, I don't know if I want to stay in the States anymore.
Vivian Tu
Talk to me.
Bobby Burke
So I. I want to move. My husband and I. It's actually me pushing it more than him. I want to move to Vietnam. Like, I've always wanted to live in Vietnam. It's one of my favorite places in the world. My husband is Vietnamese. Yeah, he grew up there until he was 13.
Vivian Tu
But he doesn't want to go.
Bobby Burke
He's down. He's down. I tried to get us to move there in 2007 when he was finishing med school. I was like, let's move here. You can open up your practice here. I'll open a design firm. And his mom was like, are you insane? Insane? I spent years trying to get you out of there. You will not go back. And she's still not happy about it now, but to our face, she doesn't say anything. But she does tell all of our cousins to tell us not to go. But I want to open up hotels there. It's always been my dream to open up hotels in Vietnam. So. Yeah. With just everything going on in the States right now, I don't know if I just want to get in deeper.
Vivian Tu
Yeah.
Bobby Burke
Who knows?
Vivian Tu
Yeah.
Bobby Burke
I'm that person that I always think about, like, the worst case, case scenario.
Vivian Tu
No, no, no, no, no, no. Tell me you are not a doomsday prepper.
Bobby Burke
No, no, no, no, no. Not at all. I just always have a plan. Like, years ago, we were in North Carolina. North Carolina. North Carolina. At a big furniture trade show. And I'm driving and my team's in the car and, you know, the GPS is going, exit, exit. And I was just in a completely different world, and I wasn't listening. And they were like, whoa, hey, where were you? Like, you were just. I was like, honestly, I was thinking about what I would do if there was a zombie apocalypse and how I would get us back to la. And they're like, wait, what? I'm like, I would like to have a plan.
Vivian Tu
Wait, do you and your husband ever do this thing that me and my husband do where I'm like, okay, if you are at work, I am at our apartment, and something horrible happens. I mean, like, mushroom cloud. I'm talking, like, zombies. Like, last of us type of type of thing, without telling me or like, without discussing what would our meeting point be?
Bobby Burke
I have it in my mind, but my husband is the exact opposite of me.
Vivian Tu
Oh. He's sunshine.
Bobby Burke
And Rainbows, sunshine and rainbows.
Vivian Tu
Nothing bad ever happens.
Bobby Burke
Doesn't. I mean, doesn't pay attention enough to think of something bad happening.
Vivian Tu
Oh, Google world.
Bobby Burke
Yeah. He's off in his own little world. And that's what I love about him. But I am the one that worries for the both of us.
Vivian Tu
Yeah.
Bobby Burke
And so I could have that conversation with him, but he. He wouldn't remember it.
Vivian Tu
Yeah.
Bobby Burke
He'd be like. He's like, you're crazy.
Vivian Tu
But you know what? God forbid anything does happen, he'll be happy that you had a plan.
Bobby Burke
Yeah, Yep. Yeah, I've definitely thought about. Okay. If he's at his office and there's an earthquake and like, how would I. Yeah, yeah, yeah. Which I. We only drive electric cars, but I did keep a gas powered one for.
Vivian Tu
Years, just in case.
Bobby Burke
Yeah. I finally. Because it sat around so much, it was starting to have problems from not being driven. So finally I got rid of it recently, but I kept one, like, just in case.
Vivian Tu
Wow.
Bobby Burke
Yeah.
Vivian Tu
Do you feel like you're that, like just in case with any other part of your life?
Bobby Burke
I'm that, I think with everything. Yeah. Just finances, everything. I was. Just in case.
Vivian Tu
What is your financial. Just in case.
Bobby Burke
I keeps things diversified within real estate and cash and stocks. Like just in case. Just in case that.
Vivian Tu
Do you have an emergency fund?
Bobby Burke
Yes, there's. Yeah. And there's bank accounts in other countries. There's. Yeah, yeah. Just in case.
Vivian Tu
I feel like I am learning something I did not getting ready to open.
Bobby Burke
One up in Vietnam. Even if we don't live there. Just in case. Fastest growing economy in Asia. Get into it.
Vivian Tu
Just in case.
Bobby Burke
Yeah, just in case.
Vivian Tu
Wow.
Bobby Burke
God forbid this administration just turn us into Gilead and you lose all your US assets. If you have the ability to diversify overseas a bit, do it now. I'm not talking like hidden bank accounts.
Vivian Tu
Right, right, right.
Bobby Burke
Yeah. Do it on the up and up.
Vivian Tu
Yeah.
Bobby Burke
But just, you know, just in case. Handmaid's Tale. Honestly, it did this thing, it did.
Vivian Tu
A number on you.
Bobby Burke
Do you remember? Did you watch it?
Vivian Tu
No, I didn't.
Bobby Burke
Okay, well, there's a scene in the very first season where. Where it's a lesbian couple and one of them is American, one of them is dual citizenship, Canadian American. And they have a son who obviously has dual citizenship because of that. And they go to leave the country and the woman who was an American citizen couldn't go. They wouldn't let her leave. They were not letting citizens leave the country. And she ended up being turned into A Handmaid. And so right then and there, I applied for citizenship in Portugal. And, like, we're. We're getting our EU citizenship. Because I'm like, if I ever have to leave here. I know that sounds crazy, but not as crazy, like, with things that are going on recently. You're like, it feels like the beginning of Gilead. If I ever have to leave here, I want to leave as a resident of somewhere, not a refugee.
Vivian Tu
Yeah. Okay. Wow.
Bobby Burke
Just Kind of think of the way. Don't be a crazy prepper. Just, you know.
Vivian Tu
But you know what? I actually do think that's good advice to, like, have a backup plan. Always plans A through Z. Yeah.
Bobby Burke
If you have the financial ability to set aside a little money somewhere else, don't necessarily set it aside here in the States. Set it aside somewhere else. Just in case, you know?
Vivian Tu
Just in case.
Bobby Burke
We never really had to worry about that before. We were the most secure economy and country on the planet. It's not really the case anymore, you know?
Vivian Tu
Yeah.
Bobby Burke
Yeah. So just in case.
Vivian Tu
Wow.
Bobby Burke
Yeah.
Vivian Tu
All right, we are now pivoting into the lightning round. Okay, so first question. After departing Queer Eye, you actually joined the Masked Singer as a competitor. Which did you enjoy more?
Bobby Burke
Oh, I mean, it's like comparing oranges to apples. I mean, very, very, very different show. Masked Singer.
Vivian Tu
Wow. Okay.
Bobby Burke
I was in and out.
Vivian Tu
Yeah.
Bobby Burke
Okay. In and out. You know, it was fun.
Vivian Tu
You also didn't have to redo an entire home.
Bobby Burke
Exactly. It wasn't. I mean, it was work. Don't get me wrong. Cause you actually do sing live.
Vivian Tu
Yeah.
Bobby Burke
And my costume was the largest and heaviest costume they had ever made. And so it was. I almost passed out on the very first episode. After that, I just.
Vivian Tu
Because it was hot.
Bobby Burke
It was so hot inside. And so I made them make me a vest that I could pack full of ice to keep my core temperature down.
Vivian Tu
Wow.
Bobby Burke
But, yeah, Masked Singer was a blast. Don't get me wrong, Queer. It was a blast as well. But if I had to choose one, like, Masked Singer was fun because it was just in and out. You know, I'd come in for an afternoon sing go.
Vivian Tu
Okay.
Bobby Burke
I wasn't living in, you know, Bumfuck, Egypt. Sorry. All those places we filmed.
Vivian Tu
Okay, so my second question is justiceforbobby. Okay. Not to undermine how much work went in from the rest of the cast, but there is a running joke online about the fact that they would do X amount of work.
Bobby Burke
Yeah, they love this joke. It's their favorite thing in the world. It never, ever caused problems Between. No, it's not at all.
Vivian Tu
But you managed to redesign a home in seven days.
Bobby Burke
Three.
Vivian Tu
Three days. Like, how did you do that?
Bobby Burke
I mean, I had an amazing team.
Vivian Tu
Yeah.
Bobby Burke
Yeah. I didn't do it on my own, but it. It. It was a lot of work, you know, especially the earlier seasons.
Vivian Tu
Yeah.
Bobby Burke
You know, by the time we got to season six, seven, eight, you know, my team and I had worked together for five, six years. At that point, they were like family, so I didn't have to work as hard. You know, we all knew how each other thought. I knew. I trusted them, but, yeah, those. Those first, like, four seasons, I worked six, seven days a week, you know, and my castmates, I don't think they ever realized that because they were themselves not there six or seven days a week.
Vivian Tu
What would you say is your biggest money mistake?
Bobby Burke
My biggest money mistake? I. Long story. My biggest money mistake.
Vivian Tu
Come on, give it to us.
Bobby Burke
Yeah. No, it's just when I had my retail stores, I. I had a. I hired a friend as a cfo, and he ended up embezzling and, you know, talked me into opening up the Atlanta store, and I sunk a lot of money into that because he wanted to be out of sight, so I wouldn't see what he was doing. But, yeah, I think that was my biggest money mistake. Trusting someone, which I'll never do again.
Vivian Tu
That's such a bummer, too, when someone takes advantage of your trust, your generosity.
Bobby Burke
Yeah. Which is why, to this day, like, you asked, who does my stocks? I do. Who manages my money? I do. I don't have a money manager. Nobody touches my money. Nobody. And my bookkeepers and stuff, they always laugh at me because they're like, okay, here's the taxes. Okay. You know, here's the number. And I'm like, I don't know. It seems off. They're like, no, we checked it, checked it, checked it. I'm like, I don't know. I think you're like, 400,000 off or whatever. And they're like, no, trust me. I was like, check it again. And they're like, oh, my God. Like, 420. How'd you know that? I'm like, I just.
Vivian Tu
I.
Bobby Burke
And I probably couldn't do that as well now, but when I had my stores, every day, you knew, I saw what went in, and every day I knew it went out. And I just was able to keep kind of like this running tally in my head, and I just. Ever since being taken advantage of that, I've just never. Nobody. My husband doesn't even touch my money.
Vivian Tu
Yeah.
Bobby Burke
It's 22 years later, we still don't have a bank account together.
Vivian Tu
Really?
Bobby Burke
And it's. It's never. It's never been a thing. Really.
Vivian Tu
How do you guys split expenses?
Bobby Burke
We don't.
Vivian Tu
You don't.
Bobby Burke
I pay for everything.
Vivian Tu
But I love this for him, but.
Bobby Burke
There have been years where he paid for everything.
Vivian Tu
Yeah.
Bobby Burke
And it's just never been a yours and mine and your half and my half. It's always just been the bill.
Vivian Tu
Yeah.
Bobby Burke
This is the bill. This is our life that needs to get paid. If there's money in my account, I pay it. If there's money in your account, you pay it. Yeah. We've just. We've never split things ever. Maybe I think, like, when we first move in with each other, I think maybe the intention was. But at the time, I was poor, so, I mean, he paid for everything.
Vivian Tu
Yeah.
Bobby Burke
He used his student loan money to pay our rent. Yeah.
Vivian Tu
Wow.
Bobby Burke
I remember our first week dating, my cell phone got shut off because I couldn't afford to pay it. And so he used his student loan money to pay my cell phone bill to get it turned back on. It was, like, best investment he ever made.
Vivian Tu
Yeah. I would have been like. I would have been like, now that I paid your phone bill, you have to text me back.
Bobby Burke
Exactly.
Vivian Tu
And as someone who has experienced both financial struggles and major success, has the definition of wealth evolved for you over time? And how do you define it?
Bobby Burke
I think it has, because I think when you first come into money or find success, you do try to define yourself by the things that you buy, like people knowing it. People knowing you're successful. Buy the things. You buy the name brand, this and that. And I think, to me now, I define success as what my finances allow me to enjoy with experiences. It keeps going back to experiences like my. I don't need my finances to buy me these luxury things to show people I have money.
Vivian Tu
Yeah.
Bobby Burke
My money. The. My best use of money and my definition of wealth is my money working for me and allowing me to not work.
Vivian Tu
Wow. And I think that is a beautiful way to end our conversation. Bobby, you got a bunch of cool stuff coming up. I don't know if you can talk about it or not, but tell everybody where we can find you and what we can look out for.
Bobby Burke
You can find me on Instagram. My Instagram is just obby TikTok. The same threads. That's it. We don't do X anymore.
Vivian Tu
We don't.
Bobby Burke
And then I'm shooting a scripted show next year. That'll be I'll be acting for not the first time, but my first big lead role. And there's a couple other shows that I'll be announcing in the next few weeks as well, if they might already be announced when this comes out. But yeah, a lot of fun things.
Vivian Tu
Thank you so much for joining me.
Bobby Burke
Thanks for having me.
Vivian Tu
Thanks for tuning into this week's episode of Net Worth and Chill, part of the Vox Media Podcast Network. If you liked the episode, make sure to leave a rating and review and subscribe so you never miss an episode. Got a burning financial question that you want covered in a future episode? Write to us via podcastorrichbff.com follow Net Worth and Chillpod on Instagram to stay up to date on all podcast related news. And you can follow me at yourrichbff for even more financial know how. See you next week.
Bobby Burke
Bye.
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Networth and Chill with Your Rich BFF: Designing Wealth – Bobby Berk's Blueprint to Millions
Episode Release Date: June 25, 2025
Host: Vivian Tu
Guest: Bobby Berk, Interior Designer, Writer, and Entrepreneur
In this engaging episode of Networth and Chill with Your Rich BFF, host Vivian Tu delves into the intricate relationship between creativity and financial savvy with renowned interior designer and TV personality, Bobby Berk. The conversation spans Bobby's humble beginnings, his ascent in the design world, insights from his media career, and his prudent financial strategies. The dialogue is both informative and relatable, making complex financial and business concepts accessible to listeners.
Bobby Berk opens up about his challenging start in New York City, emphasizing the stark realities of living on a tight budget. Moving to NYC at 21 with only $100 after paying rent, Bobby recounts surviving on minimal expenses:
Bobby Berk [00:00]: "Living in New York City. I moved there at 21. I made $2,200 a month. That's what I brought home. And my rent was 2,100. So I was living off 100 bucks a month."
This period was a testament to his resilience and frugality. Despite financial constraints, Bobby found joy in simple pleasures, highlighting his early understanding that money isn't the sole determinant of a fulfilling life.
Bobby Berk [08:49]: "I made 2,200 a month. That's what I brought home. And my rent was 2,100. So I was living off 100 bucks a month."
During these formative years, his financial philosophy was centered around survival, with no room for savings or discretionary spending. This experience taught him the value of financial prudence and prioritizing essential experiences over material possessions.
Transitioning from survival mode, Bobby shares the turning point in his career when his design stores began to thrive. Balancing his professional growth with personal life, he reflects on the challenges of living in NYC and the eventual move to Los Angeles, which provided a more conducive environment for both his business and personal well-being.
Bobby Berk [10:00]: "In my mid-30s and my stores were successful... It wasn't until we moved to LA that I finally was like, oh, I had some breathing room."
Bobby emphasizes the importance of a supportive environment in fostering business success and personal happiness, illustrating the delicate balance between professional ambition and personal life.
Vivian and Bobby delve into the repercussions of tariffs on the design industry, particularly focusing on furniture manufacturing. Bobby explains how tariffs have significantly increased costs for imported furniture, affecting both suppliers and consumers.
Bobby Berk [11:41]: "Almost all of Restoration Hardware furniture comes from Vietnam... it's 40% tariff."
He highlights the dependency on overseas manufacturing for quality materials and the scarcity of skilled artisans domestically, making a case for the economic implications of tariffs on the home furnishings market.
Bobby offers pragmatic advice for listeners navigating today's economic landscape when designing or furnishing their homes:
Bobby Berk [14:31]: "My advice is to stay within your budget. If you have to pivot because prices have went up for tariffs, if you don't have the money to increase the budget, don't be house poor."
He advocates for investing in durable, high-value items like appliances that retain or increase in value over time, rather than hollow luxury items that depreciate quickly.
Discussing his stint on Queer Eye, Bobby reveals the financial challenges faced during the early seasons:
Bobby Berk [15:28]: "The first two seasons I definitely lost money being on the show... we made a single digit percentage."
Despite the financial strains, Bobby acknowledges the invaluable exposure and opportunities the show provided, leading to lucrative brand partnerships and expanding his business ventures.
Bobby Berk [16:49]: "I never regretted doing it. We got really, really lucky to find lightning in a bottle."
This segment underscores the balance between short-term financial sacrifices and long-term career gains through strategic exposure and brand building.
Bobby shares his investment mindset, emphasizing diversification and self-management of finances to prevent past mistakes, such as embezzlement by a trusted CFO.
Bobby Berk [30:28]: "I've always done it myself... high yield dividend ETFs."
He advises maintaining a diversified portfolio across real estate, cash, and stocks, and even considering international diversification to safeguard against potential economic downturns in the U.S.
Bobby Berk [34:15]: "Set it aside somewhere else, just in case."
Bobby advocates for proactive financial planning and diversification as safeguards against unpredictable economic climates.
Bobby provides a candid look into his personal financial arrangements with his husband, emphasizing mutual trust and independence in managing finances.
Bobby Berk [40:34]: "We don't. I've pay for everything... it's always just been the bill."
This approach highlights a partnership based on mutual support without intermingling finances, an arrangement that has worked seamlessly for them over 22 years.
Concluding the episode, Bobby reflects on his evolved definition of wealth. Initially tied to material possessions and brand recognition, his perspective has shifted towards leveraging finances to enjoy meaningful experiences.
Bobby Berk [41:39]: "Success as what my finances allow me to enjoy with experiences... my money working for me and allowing me to not work."
This realization marks a mature understanding of wealth as a tool for personal fulfillment and freedom, rather than a mere indicator of status.
In the final moments, Bobby teases upcoming projects, including a lead role in a scripted show and further expansions of his design and hospitality ventures. His multifaceted career underscores the synergy between creative passion and financial intelligence.
Bobby Berk [42:38]: "I'm shooting a scripted show next year... a lot of fun things."
These future plans reflect Bobby's continuous growth and adaptation in both the creative and business realms, embodying the episode's central theme of designing wealth.
Bobby Berk's journey from a frugal newcomer in New York City to a successful designer and media personality offers invaluable lessons in financial management, strategic investments, and the true essence of wealth. His story is a testament to the power of resilience, smart decision-making, and redefining success on one’s own terms.