3 things I wish I knew when I was broke | Vivian Tu

Summary

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Podcast Summary: TED Talks Daily — “3 Things I Wish I Knew When I Was Broke” | Vivian Tu

Release Date: March 28, 2026
Host: Elise Hu
Speaker: Vivian Tu (“Your Rich BFF”)
Location: TED Next 2025, Atlanta

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Main Theme & Purpose

This episode centers around Vivian Tu’s personal journey from being broke—living paycheck-to-paycheck in New York City as a young Wall Street professional—to becoming a leading financial educator and entrepreneur. Vivian distills “3 things I wish I knew when I was broke,” sharing actionable financial guidance, demystifying complex financial language, and encouraging open, community-based money conversations. The episode is both Vivian’s TED Talk and an engaging post-talk interview that gives practical advice, especially tailored for those systematically left out of the traditional financial system.

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Key Discussion Points & Insights

Vivian Tu’s Story: From Wall Street to Financial Educator

• Origin Story:

  • At 22, Vivian lived paycheck-to-paycheck in NYC. One humiliating night, her card was declined at a bar, despite her Wall Street job ([04:31]).
  • She realized that fancy job titles don’t necessarily mean financial literacy.

• Financial System Critique:

  • The financial services industry is set up to help the wealthy, not everyday people.
  • Lack of personal finance education in K-12 and decades of policy have deepened the wealth gap ([04:31]).

3 Things Vivian Wishes She Knew When She Was Broke

1. Learn the Language (of Finance)

• Financial jargon is intimidating: “401k, IRA, FICO, AGI—hello, can someone please help me?” ([07:39])
• Don’t be embarrassed to ask what things mean: “Don’t be afraid to be smart by looking dumb.” ([07:39], [01:15])
• Use accessible resources (Investopedia, Nerdwallet) and seek mentors who can explain without condescension.
• Translate complex financial events into personal impact:
  • Example: “Fed Daddy just announced we’re lowering interest rates, and a lot of people don’t even know what that means, much less what it means for them.” — Vivian Tu ([08:45])

2. Build Community Around Money

• Break the taboo of money talk; open conversations empower people and level the playing field ([09:17]).
• Online spaces like Fishbowl, Glassdoor allow for honest, anonymous discussion about salaries, struggles, and victories.
• Vivian dreams of a future where money is discussed so openly “that [future generations] will enter adulthood with a level of financial confidence that their parents could have only dreamed of” ([10:49]).

3. Find Modern Solutions for Modern Problems

• Old advice and traditional advisors may not fit today’s realities.
  • “If I’m not getting a pension like my dad… why am I taking my dad’s financial advice? Or worse, using my dad’s financial advisor? Sorry, dad.” — Vivian Tu ([11:28])
• Technology democratizes wealth-building: robo-advisors, online banks, and new AI-powered apps ([11:43]).
• “The future of finance isn’t coming. It’s already here and it’s working for us.” — Vivian Tu ([12:53])

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Notable Quotes & Memorable Moments

• On the shame of being broke, even with a ‘good’ job:

  • “During the day I would enact trades on behalf of hedge funds worth billions of dollars, and at night I would go home and wonder if one more pad thai order would set me over the financial edge.” — Vivian Tu ([04:31])

• On generational wealth:

  • “It’s not just the dollars being passed down… they also pass down the, ‘Hey, don’t forget you have to use this tax loophole,’ or, ‘Don’t forget you have this opportunity.’” ([18:31])

• Advice for total beginners (STRIP acronym):

  • “I always joke when people are like, ‘Oh, I want to be rich. How do I get rich?’ I say, you have to STRIP.”
    • Savings: 3-6 months (single) or 6-12 months (head of household) in high-yield savings ([15:52])
    • Total debt: Pay minimums, put extra towards highest interest
    • Retirement: Use tax-advantaged accounts (401k, IRA), invest those savings
    • Invest: Use robo-advisors for beginners
    • Plan: Envision your ‘happily ever after’ and plan finances backward from there ([17:07])

• For those feeling stuck:

  • “I do not sit here and pretend like you can save your way out of a paycheck to paycheck lifestyle… It’s going to suck for quite some time… But even a small cushion changes your mindset entirely. You can make the right decision, not just the right-now decision.” ([22:44])

• On addressing those excluded from the financial world:

  • “I joke and I call my BFFs the leftovers. It’s the people who have been left over because for so long, financial services has catered to one specific audience… old, white, male. The leftovers are actually the global majority.” ([21:31])

• On giving and generational wealth:

  • “You are better off building your own financial foundation and being selfish for a temporary period… Once you do have that, you only gift, you never loan… Generational wealth is not just cash, it is knowledge.” ([25:18], [27:45])

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Key Interview Insights

(Post-Talk Interview Begins: [15:06])

• On Nervousness and Condensing Wisdom:

  • Vivian felt nervous delivering her ideas in just 8 tightly-edited minutes ([15:10])

• Advice for Beginners – STRIP: ([15:52])

  • Vivian’s STRIP acronym covers savings, debt, retirement with tax advantages, investing (recommends robo-advisors), and planning for your dream life.

• On Systemic Obstacles and Knowledge:

  • Generational wealth comes not only from money but from passed-down knowledge ([18:31])

• Skepticism, Trust, and the System:

  • “Saying ‘I’m not going to participate in the financial system at all’ is doing you no favors… We have to play ball, unfortunately. But that means leveraging the system as it exists for the best outcome.” ([19:40])

• On Helping Marginalized Groups – Her Brand’s Mission:

  • Vivian’s entire brand is catering to “the leftovers,” as traditional finance excludes women, people of color, and others ([21:31])

• Perspectives on Saving When Broke:

  • Vivian doesn’t sugarcoat it: escaping the paycheck-to-paycheck trap often requires tough choices and side hustles, but even a small buffer is empowering ([22:44])

• On Modernizing Financial Advice:

  • “What other thing do you have to do in person [like meeting a financial advisor]? When’s the last time you walked into a bank branch?” ([24:43])

• Balancing Wealth and Giving:

  • Advocates building a personal foundation first, never loaning money to family (only gifting), and making plans to give back when secure ([25:18])

• On Teaching Kids About Money:

  • “My kids are not getting all of my money… That’s me stealing their confidence. That’s me stealing their agency. I would never want to do that.” ([27:44])

• About Ask Dolly – New Tech Startup:

  • Ask Dolly, Vivian’s new venture (askdolly.com), aims to democratize financial advice using AI to answer common questions in her approachable style, escalating to licensed humans for complex issues ([28:15])
  • Designed for people who need advice before hitting high net worth—“when I was 22 and my credit card was declining.” ([28:24])

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Timestamps for Important Segments

• Vivian’s NYC Paycheck-to-Paycheck Story: [04:31]
• 3 Things She Wishes She Knew: [07:38]
• Fed Daddy Example—Explaining Federal Reserve News: [08:45]
• Community & Transparency in Finances: [09:17-11:00]
• Modern Solutions for Modern Problems: [11:28-13:00]
• Post-Talk Interview Begins: [15:06]
• STRIP Acronym—Step-by-Step Basics: [15:52-17:07]
• On Systemic Barriers & Generational Knowledge: [18:31]
• Trusting Financial Institutions: [19:23]
• Advice for Marginalized Groups: [21:31]
• Advice for People Living Paycheck to Paycheck: [22:31-23:56]
• On Updating the Approach to Advisors/Meetings: [24:24]
• Giving Back and Generational Wealth: [25:18, 27:44]
• Ask Dolly Tech Startup Introduction: [28:15]
• Episode Wrap-Up: [30:35]

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Tone and Approach

Vivian’s delivery is down-to-earth, sometimes humorous, and always focused on making financial literacy both practical and inclusive. She uses real-life analogies, pop culture references, and a touch of irreverence (e.g., “Fed Daddy”) to break down intimidation barriers and welcome everyone, especially “the leftovers,” into the financial conversation.

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Final Takeaway

Vivian Tu’s TED Talk and follow-up discussion remind us that financial literacy is accessible—with the right resources, modern tools, and supportive community. Her actionable frameworks, refusal to gloss over hardship, and commitment to inclusion invite everyone to “be smart by looking dumb,” ask questions, and build a future where financial confidence is the norm, not the exception.

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Transcript

[Elise Hu]

Listening to TED talks daily where we bring you new ideas spark your curiosity every day. I'm host Elise Hu. What if the biggest barrier building wealth isn't how much earn but well understand financial system? Many young people still feel hopelessly lost when it comes our money and this is in part due existing you're. And if we're being honest, the financial services industry as it currently exists is really only set up and incentivized to help well be already wealthy.

[Vivian Tu]

That's Vivian too, your favorite Wall street girly as she calls herself a trader turned financial educator. She's also a businesswoman and author. In her talk, Vivian shares how she went from the stress of living paycheck to paycheck to becoming social media's big sister for all things finance. As the founder of youf' Rich bff, originally a social media channel and now a multi platform brand, she shows how clear, accessible money conversations can shift power and give everyone, yes, everyone a real shot at getting rich.

[Elise Hu]

It's safe to say learning finance really is like learning a new language. But my ask of you is really simple. Don't be afraid to be smart by

[Vivian Tu]

looking dumb and stick stick around. I caught up with Vivian in Atlanta right after she gave her talk to dig into some of the advice she offers. We also discuss why traditional finance has long excluded everyday people, what building wealth for the next generation really means, and why she specifically caters her brand to what she calls the leftovers. That's all coming up right after a short break. This message is brought to you by Apple Card. Apple Card members can earn unlimited daily cash back on everyday purchases wherever they shop. This means you could be earning daily cash on just about anything, like a slice of pizza from your local pizza place or a latte from the corner coffee shop. Apply for Apple Card in the Wallet app to see your credit limit offer in minutes. Subject to credit approval. Apple Card issued by Goldman Sachs bank usa, Salt Lake City Branch terms and more. And@more applecard.com this episode is brought to you by Planet Visionaries, a podcast in partnership with the Rolex Perpetual Planet Initiative. If you've been feeling overwhelmed by climate headlines lately, here's something worth your time. A show focused on solutions. It's called Planet Visionaries, hosted by Alex Honnold. Yes, the climber from Free Solo now turning his attention to protecting the only planet we've got. What makes this show stand out is the people you'll hear from. Scientists, explorers and storytellers who are actually building a better future and making it feel tangible. Human and possible One Conversation features coral restoration leader Tituan Bernacote along with legendary oceanographer Sylvia Earle, sharing what it really takes to restore our oceans in partnership with the Rolex Perpetual Planet Initiative. This is Planet Visionaries Listen or watch on Apple, Spotify, YouTube, or wherever you're listening to this podcast. This episode is brought to you by Duck AI AI can be incredibly useful, but sometimes it gives me pause to think that my chats might be saved somewhere forever. Between work stuff and embarrassing personal questions, a lot of us share more with AI chatbots than we realize, and information shouldn't come at the cost of your Privacy. That's why DuckDuckGo built Duck AI so you can chat privately with the same AIs you might already be using, like ChatGPT or Claude, and protect your data from hackers, scammers and data hungry companies. There's no account required, it's completely free. Plus it's from DuckDuckGo, known for protecting your data, not collecting it, so you can chat freely without worrying about your AI conversations getting stored or exploited. If you want to use AI without giving up your privacy, visit Duck AI Talk today. That's Duck AI Talk, a private way to chat with AI from DuckDuckGo, where AI is always optional and private. And now our TED Talk of the Day.

[Elise Hu]

Picture this. You're 22. You just moved to New York City and you're out at a bar with friends. Couple of tequila shots, a lukewarm beer later you go to the bartender to close out your tab. But then she says the three scariest words known to man your card declined. It feels like everyone in the bar overhears. On one particular night out in 2016, I had to wait until 12:01 for the direct deposit from my paycheck to actually hit my bank account to be able to pay my bar tab. At the time, I was living paycheck to paycheck, and if I'm being honest, the embarrassment I felt that night would stay with me for years. Even though I had a fancy job on Wall street, my personal finances were a mess. During the day I would enact trades on behalf of hedge funds worth billions of dollars, and at night I would go home and wonder if one more pad Thai order would set me over the financial edge. Sadly, this is not a unique experience. Many young people still feel hopelessly lost when it comes to our money, and this is in part due to the existing financial system. Personal finance education is not taught K through 12. The past five decades of policy implementation has led to a deep divide between the haves and the have nots. And if we're being honest, the financial services industry as it currently exists is really only set up and incentivized to help, well, be already wealthy. But here's where the story starts to get really good. There's never been a better time to get financially literate than right now. Knowledge that was once locked behind expensive advisors is available at your fingertips. Ten years after bar night, I have become the financial educator I so desperately wish I had had back then. I built my career teaching financial literacy like a friend across social media. And as it turns out, that boiled down language and those silly jokes and those funny memes, they didn't make me any less credible, but they sure did make me more understandable. What started as just videos on social media has turned into a podcast. Not one, but two books. And if all goes according to plan, a full blown tech startup. The financial world has finally opened its doors wide. But here are the three things I wish I had known to do all those years ago when I was so desperately broke and wanted so desperately to be very, very rich. 1. Learn the language. The financial language.

[Vivian Tu]

2.

[Elise Hu]

Build community around money and 3 find modern solutions for modern problems. So let's dive into that first point. It's safe to say learning finance really is like learning a new language. 401k IRA529 FICO APYAGI hello, can someone please help me? But my ask of you is really simple. Don't be afraid to be smart by looking dumb. Ask what the words mean. Don't be afraid to utilize resources like Investopedia or nerdwallet. And most importantly, find a financial mentor that speaks your language. Someone who has the industry chops to back up those smarts. Someone who never promises you anything that's too good to be true. And certainly someone who never gives you that weird feeling in the pit of your stomach. Here are some of the ways that I have connected with people looking for financial guidance. First off, I nicknamed Jerome Powell Fed Daddy to explain rates lowering.

[Vivian Tu]

Fed Daddy just announced we're lowering interest rates and a lot of people don't even know what that means, much less what it means for them.

[Elise Hu]

Translating headlines into action items.

[Vivian Tu]

The federal government didn't clock in today, but I did. So here's how the government shutdown is going to impact you and your wallet.

[Elise Hu]

And even breaking down how celebs like Kendrick Lamar get rich and stay rich.

[Vivian Tu]

Kendrick Lamar's family dancing in the Not Like Us music video wasn't just a

[Elise Hu]

clapback it was a genius investment. When you understand the language, you understand what matters. And the response to turning finance into fun Nance has been incredible. And this leads us into our second point. While it's on financial educators to meet the next generation where and how they already live, it's on the next generation to build their own financial community. For years we have been told talking about money is rude, tacky, taboo. But the last time I checked, Bob and Steve seem to have no problem trading investment tips as they're teeing off at hole three. It turns out it's really only a faux pas when we do it. It's time to change that. I, like so many young people, clock in daily for a full shift at the looking at my phone factory. And whether you spend all of your time scrolling TikTok or reading Reddit threads, it's clear having conversations around money takes the power away from the people up top and gives it back to us. The Internet has led to the creation of spaces like Fishbowl and Glassdoor where people can share true real numbers, honest struggles and genuine victories without shame or judgment. And frankly, many of these conversations are still too raw to be had irl this online anonymity is empowering people to work together with their digital accountabila buddies to make smarter financial choices. And my hope is that as this generation gets more comfortable creating community around money talk, the generation after us, they're going to grow up seeing money discussed so openly and authentically that they will enter adulthood with a level of financial confidence that their parents could have only dreamed of. And speaking of the future, you've probably heard the phrase modern problems require modern solutions. It's never been more true. If I'm not getting a pension like my dad, and I can't make a household's ends meet on one income like my dad.

[Vivian Tu]

And I certainly don't plan on working

[Elise Hu]

the same job for 40 years like my dad. Why am I taking my dad's financial advice? Or worse, using my dad's financial advisor?

[Vivian Tu]

Sorry, dad.

[Elise Hu]

Robo Advisors are making sophisticated investment strategies accessible to everyone Online banks are offering competitive rates without the burden of the overhead of brick and mortar branches, and innovative apps are turning complex financial tasks into simple, actionable things that you can do from the palm of your hand. These new platforms are just as regulated and licensed, and more often than not, they offer lower fees. And it's not just startup hubs or VCs that are taking notice. Creators and educators are now turning into founders for my story. What started as just content has turned into an app powered by AI working in conjunction with certified human experts to provide guidance in plain English, like a friend and more importantly, continues to educate through first and foremost, new age financial brands aren't just a replacement for traditional financial services. They're purpose built for the way we live now, designed to help you save smarter, invest easier and build wealth faster than ever before. The future of finance isn't coming. It's already here and it's working for us.

[Vivian Tu]

So to wrap us up, a decade

[Elise Hu]

has passed since my horrific bar tab incident and I so desperately wish I could go back in time and provide past Vivian with some of the solutions available to today. Vivian now. This shift towards financial accessibility isn't just changing individual lives. It's building an ecosystem where everyone has a fair shot at prosperity. And my dream is that a decade from now, the evolution in financial education will mean there are fewer declined credit cards at bar night, a shrinking wealth gap, and a financial future that is brighter than ever. Thank you.

[Vivian Tu]

Don't go away just yet. My conversation with Vivian is coming up right after a short break.

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[Interviewer]

All right, Congrats on the talk.

[Vivian Tu]

Thank you so much.

[Interviewer]

How are you feeling? You just got off the stage.

[Vivian Tu]

I mean, honestly, it feels like every ounce of cortisol is just leaving my body right now. Thank goodness. Yeah, if I'm honest, I was pretty nervous for this and I don't normally get nervous when public speaking, but I think it's because normally when I keynote, I have 45 to 60 minutes. But for this, you have to keep it so tight eight minutes. And just get everything you need to say out in that time.

Right.

[Interviewer]

Did you feel like you got everything out? Is there anything you want to add?

[Vivian Tu]

I left it all out on the field.

[Interviewer]

Okay.

[Vivian Tu]

So I feel really good about it.

Love to hear that.

[Interviewer]

Love to hear that.

[Vivian Tu]

All right.

[Interviewer]

Well, you use your own story as a way in essentially arguing that you have become the financial advisor that you really needed when you started out. Where do we start if we've never gotten any financial education, which is most of us.

[Vivian Tu]

Yeah, I mean, listen, I always joke when people are like, oh, I want to be rich. Like, how do I get rich? I say, you have to to strip. And then everyone's very, very interested all of a sudden. But strip is just an acronym. It stands for savings. I usually Recommend Anywhere between 3 to 6 months to 6 to 12 months, depending on if you're single versus head of a household. And you would put it into a high yield savings account to make sure you're earning as much interest as possible. T total debt, you rank your debt from highest to lowest interest rate. You make the minimum payment across everything, and then any additional debt pay down funds you would put towards the debt with the highest interest rate.

Okay.

R is retirement. So, you know, I think that the government treats us like we're babies. When they don't want you to do something, they'll slap you on the wrist. And when they do want you to do something, it's like a little piece of candy on a string with a stick. And so what I encourage people to do is get that piece of candy. And that piece of candy is tax advantages. You get to pay fewer taxes. It's totally legal. By taking advantage of retirement accounts like 401ks, 403s, TSPs, whatever you do for work, then also individual retirement accounts, IRAs, you have the traditional or the Roth variety. But let's get those tax pennies. Tax pennies are amazing. But it's not just enough to have these accounts. You have to. I invest those dollars. So instead of just putting cash into that 401k or cash into your IRA, you actually have to then go buy stuff. So what I recommend for people who are really, really new to this is just get a Robo Advisor. You can search best robo advisor 2025 and there will be a lot of options that come up. Play around, see which one has an interface that you feel comfortable with. And you take A quick quiz about your money goals, and they will then spit out a perfectly diversified portfolio for you. I mean, how do we not love technology, right? That's wild. And then last but not least, P, you got to make a plan. You do not get to ride off into the sunset and do a happily ever after if you don't know what that looks like for some people that's retiring at 35 in an Airstream and never buying shoes again. That's not me. Let's just say that that's not me. For me, I have a more traditional retirement. I'm happy to retire closer to 60, 65. I want to have a vacation home. I want to be able to help put my kids through school. I want to be able to have a chubby English bulldog named Pickles that has to go to the vet, and you have to pay for that. So picture your perfect life and then build backwards from it.

[Interviewer]

Do you feel like. And I know you've written a lot about how the system or the structures that we live in basically keep the rich rich, if not make them richer and then make the poor poorer. How is financial literacy tied into, potentially for individuals anyway, lessening the wealth gap? Because these are kind of systemic problems that individuals are having to.

[Vivian Tu]

Listen, I think if you do not acknowledge that there are systemic biases, systemic unfairnesses that are impacting certain communities and making it harder for them to grow wealth, you're delusional. I really do believe that. But when we talk about generational wealth, it's not just the dollars being passed down. If your rich uncle set up a trust fund for you and had a great career and owned a firm and did all of those things, it's not just wealth, it's knowledge. They already paved that road, and you get to walk on it very simply. They also pass down the, hey, don't forget you have to use this tax loophole, or, hey, don't forget that you have this opportunity available to you to put extra money into your retirement account between these years, between this age, you know, things that other people don't know.

[Interviewer]

There is huge distrust because of this wealth gap in a lot of institutions right now. In banks, in systems, of course. What do you advise folks who've kind of lost trust in the systems about keeping their money inside banks and investing.

[Vivian Tu]

So listen, I think a healthy dose of skepticism is healthy, exactly that. But I also think saying, hey, I'm not going to participate in the financial system at all. I'm going to keep my money under a mattress is doing you no favors, right? The financial system as it currently stands is the devil that we know. And you have to play ball, unfortunately. But that means choosing the best bank that's going to give you the best interest rate on your savings account. It means when you're getting a mortgage, going to every single bank that you have ever had a relationship with in your entire life and pitting them against each other to make them enemies, and a race to the bottom to get you the best rate. It means leveraging the system as it currently exists to give you the best outcome. Because if you don't participate, inflation's going

[Elise Hu]

to eat away at your money anyway.

[Vivian Tu]

You're not going to get to grow. You're not going to get to participate. So while I get it, it's like, hey, if I invest, maybe I'm putting my money towards things that I don't necessarily believe in. Sure. But use that money, make that money, and then donate that money to causes you do care about.

[Interviewer]

Because you're saying that if you do leave the money under the mattress, it's

[Vivian Tu]

losing value, you get nothing, your community gets nothing, and there are no benefits to be had. We have to make sure that the money is going into the pockets of the people we believe in, the communities we care about. And frankly, that oftentimes is communities of color. Women, marginalized groups like the LGBTQ community, immigrants, people who grew up low income. Like, when we give those people opportunities, they typically pay it forward and that money stays within their communities.

[Interviewer]

Speaking of marginalized groups, women who haven't been educated in finance, people of color, other marginalized groups. Is your advice any different or more tailored to ones that have been left out of the financial system?

[Vivian Tu]

Yeah, I mean, that's my entire brand. I joke and I call my BFFs the leftovers. It's the people who have been left over because for so long, financial services has catered to one specific audience. And that person was old, they were white, and they were male. And I think if we don't acknowledge those discrepancies, those unfairnesses, we're doing a disservice to those people.

[Elise Hu]

Right.

[Vivian Tu]

It's been shown that when black families go in to get mortgages, more often than not, they get a worse rate than the exact same couple held equal had they been white. It has been shown that women only apply to jobs when they are already hitting more than what that job requires. Whereas any guy would look at this job description, hit 3 out of 10 bullet points, and be like, who's better for this job than Me, I got this. And so I think I do need to speak to those communities because the leftovers are actually the global majority, but we don't address them as such.

[Interviewer]

Absolutely. A lot of folks are treading water right now. It takes money to save money. You've lived paycheck to paycheck before. What do you say to folks who are struggling and feel like they have nothing less left to save?

[Vivian Tu]

Listen, I do not sit here and pretend like you can save your way out of a paycheck to paycheck lifestyle. I am very, very clear about this. It's going to suck for quite some time. You are going to have to either somehow manage to get paid more at your current job. So that does require a little bit of negotiation. That's probably the easiest route. You're either going to have to, for a temporary period of time, put yourself in a position of discomfort. So that means picking up a side hustle, picking up another job. I'm not saying this is all right. I'm saying this is the reality. You're likely going to have to cut back on discretionary purchases. You're going to have to cut back on frankly, necessity purchases or opt for a lower quality of life. But my true belief is that if you're doing all of those things and you are in a position that you can save even just a little bit to get yourself that cushion, that will change your mindset entirely. Because when you don't have anything to fall back on, you make decisions out of a place of scarcity. You make decisions because you have to. But when you have a parachute, no matter how big or small, you can make the right decision and not the right now decision.

[Interviewer]

Love that. You talked about how we really need to change the language that we use. I listened to you talk about like retirement and all of these names for the financial products for retirement.

[Vivian Tu]

What a joke, right?

[Interviewer]

Why are they possibly define them all for you? And you said when you understand what the language is, you understand what matters and how financial advisors really need to pivot for the reality of what young people need. Now what do you mean by that?

[Vivian Tu]

Okay, so imagine this. You hire a financial advisor. They're like, okay, come into our brick and mortar office, bring all of your statements, we'll take a look at them together. I don't want to do that. First off, I don't even like to call to make an appointment with my manicurist. Okay. I'm hoping that they have an online booking system.

[Interviewer]

I would have to print out all my statements, like, print them where am

[Vivian Tu]

I supposed to get a printer? Like first off, like, I don't work a corporate job anymore. I can't just steal my company's resources and print on the company printer. So I make this joke, but I

[Elise Hu]

do think it's so outdated.

[Vivian Tu]

What other thing do you have to do in person like that? Like when's the last time you walked

[Elise Hu]

into a bank branch?

[Interviewer]

Can't remember.

[Vivian Tu]

Can't remember, right. Because so much of our life now is done digitally when everything else in our life has been streamlined. We're going to want this streamlined too.

[Interviewer]

What is the balance for you between growing individual wealth and giving?

[Vivian Tu]

I think balance is the perfect word for it. My opinion is you are better off building your own financial foundation and being selfish for a temporary period of time so that you can make bigger gifts and donations later on. So hear me out. A big conversation this comes up in is in immigrant families, so many first gen oldest daughter, like it's such a trope but like the expectation is that you are your parents retirement plan. And so the thing is when you are the first person in your family to maybe graduate college, maybe you saw your family make a ton of sacrifices. But for you to be the first person who graduated from college and then you get the quote unquote fancy job, maybe you're come from a background where your parents worked blue collar work and now you have a corporate job, you get benefits. Maybe you're the first person in your family to make a six figure income. Maybe you're the first person in your family to own a home. Everybody's looking at you like entourage, like we're going to, we're all coming up right? But the problem is you have to have your own emergency fund, you have to pay down your own debt, you have to start saving for your own retirement, you have to start investing on your own. You have to have a plan of what your happily ever after is. If you don't have that, you are not in a position to be giving or taking care of other people. Once you do have that though, I always say you never loan you only gift and you can set a budget for how much you want to give to family, how much you want to give to philanthropic causes, how much you want to just do. And for me that has changed over the course of my lifetime. When I was working on Wall street at that first job, I, I would give, you know, $50 here, $100 there to charitable causes. Mostly because they were hosting galas and I wanted to attend and drink the free liquor as you can tell a lot of my early twenties was just me drinking at bars. Then as I became more senior in my career, when I moved over into the media world and I was very comfortable with how much money I was making, I would make one large donation a year to a philanthropic cause that I cared about, St. Jude Children's Research Hospital. And then now that I'm in a really good position, I own my own business. I know where the money's coming from. I feel very, very stable. Not only do I give every year a lump sum to a number of causes, shout out St. Jude's but also shout out, like, Apex for Youth, which is supporting AAPI Youth in New York City. Like, I have a statement in my will of a portion, a percentage of my total assets will be passed on to charitable causes when I pass.

[Interviewer]

Oh, that's a great idea.

[Vivian Tu]

And that will never change. My kids are not getting all of my money. Let me be entirely clear. I am going to give them every possible advantage. They are going to be so incredibly privileged in a way that I was not. But generational wealth, like I said earlier, is not just cash. It is knowledge. I will be teaching my children. They are going to have to fend for themselves. The idea of spoiling my kids rotten to a point where they are not able to build a life that they can be proud of on their own, that's me stealing their confidence. That's me stealing their agency. And I would never want to do that as a parent.

[Interviewer]

Can you tell us a little bit more about your new tech startup?

[Vivian Tu]

Yes. Okay, so you can check it [e-mail]

[Interviewer]

and how do you spell Dolly?

[Vivian Tu]

D, O, L, L, Y. Dolly Parton. Dolly Parton. But it's really short for dollar, so ask Dolly. And the reason why I'm so proud of this is basically as my platform started to grow and grow and grow, I would get thousands of DMs a day, like, to the point where it was just, like, completely untenable to actually respond to everybody. And all of these questions were so heartfelt. And people would, like, pour their entire soul into an Instagram dm. And I'm like, wow, you're giving me, like, a lot of personal details. And I feel bad that this is going to sit unread, unresponded to. It's not nice. And I just experienced this downstairs as I was signing copies of my book and meeting people here at TED Next. They want to get my perspective. I want to be able to respond to my audience. I want to build that community. And I was like, okay, so how can I make sure that I'm helping people actually get their questions answered? With Ask Dolly, you're going to be able to ask your financial questions. You're going to get that financial knowledge on demand. And not only is it going to be better than just a Google search or whatever, it's going to be in my tone, it's going to be explained in an analogy that you are probably already comfortable and familiar with. And then if you ask a question that is too nuanced, too one on one, requires more digging, requires more knowledge from you, and to give to me will actually be able to connect you with a live human CFP who is very legally licensed to give you that financial advice. Because I believe that everybody should be able to have access to this right now. As it stands, to get a financial advisor, more often than not, you have to have a six figure net worth from jump. They want clients with a lot of money. But you know when I really could have used that advice when I was 22 and my credit card was declining.

[Interviewer]

Yeah.

[Vivian Tu]

And so I think for me, it is so important to get in at the ground floor to help people when they need it most, because that is really where the difference is made. It's not the difference between getting you from $1 million to $5 million. It's the difference between getting you from $10 in your checking account to $1,000. You are going to feel that amazing.

[Interviewer]

Vivian, thank you so much.

[Vivian Tu]

Of course. Thank you so much for having me.

That was vivian tu@ted next 2025 and in conversation with me, Elise Hu. If you're curious about Ted's curation, find out [e-mail] curationguidelines and that's it for today. This episode was produced by Lucy Little, edited by Alejandra Salazar, fact checked by the TED research team and engineered by Xander Adams. TED Talks Daily is part of the TED Audio Collective. Our team includes Martha Estefanos, Oliver Friedman, Ryan Greene, Lucy Little, Emma Tobner and Tansika Sangmarni Von. Additional support from Christopher Faizy Bogan, Daniela Ballaraizo and Banban Chang. I'm Elise Hu. I'll be back tomorrow with a fresh idea for your feed. Thanks for listening.

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