April 22, 2025
Money Getting Funny: Midlife in today's economy
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Midlife career change, financial freedom after 50, and retirement planning in today’s economy—this episode of Timeless & Unfiltered is your survival guide to thriving in midlife. Whether you're in your 40s, 50s, or beyond, it’s time to pivot, rebuild, and secure the bag! 💼🔥
🎙️ Timeless & Unfiltered Podcast | Episode 11
Feeling the pressure of inflation, job insecurity, or a late start to retirement savings? You’re not alone—and you’re NOT too late. This week, we dive deep into the best strategies for financial security after 40, including how to start over, build wealth, and create new income streams in uncertain times.
We’re talking:
🔄 How to pivot your career or start a business in midlife
💼 High-impact side hustles and digital business ideas
🧠 Money mindset shifts for long-term success for Gen X and Boomers
🔥 Real stories. Real strategy. Real talk for midlife bosses.
👑 This is your season to rise. Don’t just survive—thrive.
Midlife isn’t the end. It’s the upgrade.
👇 DROP A COMMENT 👇
What’s one way you’re pivoting to secure your future in this economy?
📢 Like, comment, and subscribe for unfiltered conversations every week!
#midlife #timelessandunfiltered # investing #layoffs #MidlifeCareerChange #FinancialFreedomAfter50 #RetirementPlanning #WomenOver50 #TimelessAndUnfiltered #MoneyMoves #PivotInMidlife #SideHustlesOver40 #GenXWealth #LateStartRetirement #BlackWomenInBusiness
💬 Join the conversation! Follow us on social media to see our weekly questions, then leave us a voicemail at timelessandunfiltered.com. Your message might be featured in an upcoming episode! Watch us on YouTube https://www.youtube.com/@TimelessandUnfilteredPodcast.
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🌐 Website: timelessandunfiltered.com
Transcript
WEBVTT
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The days of retiring from a company.
00:00:03.424 --> 00:00:07.671
I don't want to say it's long gone but it is, it is, but we got to retire.
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But it is it really?
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is, my mom didn't have a lot, but she had a lot, and so I learned from a real early age with her it really doesn't matter how much money you have, it's really what you do with it.
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I really don't know how she did it.
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She always made something out of nothing and I mean, that's a slang language that we say all the time, but like truthfully she did this is legra, this is stephanie, this is shere and this is Evania.
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And this is Timeless and Unfiltered, where we are spilling the tea on midlife, one laugh at a time.
00:01:01.527 --> 00:01:02.267
This is Timeless and Unfiltered.
00:01:02.267 --> 00:01:03.088
You guys Keeping it real.
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This is.
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Stephanie, this is Cherie.
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This is.
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Stephanie.
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This is Sharice.
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This is Evanya.
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And we got Stephanie over here putting her boobs in people's ears.
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I don't know what we doing.
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Not just people, not everybody.
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You're going to get a titty.
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You get a titty.
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You get a titty.
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You hear me now.
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Y'all so crazy.
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Y'all so crazy.
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We crazy, y'all so crazy, we gonna spill the tea on midlife, one last.
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That's how I gotta ring them back in, y'all, let me.
00:01:29.653 --> 00:01:44.468
Let me throw something out there, ring them back in, bring back the conversation before we start yes, oh, if y'all can really hear half the conversations we have to try to make sure we have conversations that we can air, because a lot of them we can't.
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But what are we talking about today, y'all?
00:01:46.884 --> 00:01:56.126
oh, surviving this economy, yeah, the struggles in this economy, midlife in this economy well, you brought this up, so let's go people being laid off.
00:01:56.126 --> 00:02:08.034
I've noticed a trend on social media laid off I know, yeah, two times in two years and it's like what just happened um the days of retiring from a company.
00:02:08.155 --> 00:02:22.151
I I don't want to say it's long gone but it is, it is, but we got to retire, but it is, yeah, it is, it's not, and I had been at this company for 10 years and that was the longest I held a job, and I was like I'm just going to retire and I really planned on just staying there and retiring.
00:02:22.151 --> 00:02:26.281
And then they said, yeah, 156 of y'all, we're letting you go.
00:02:26.281 --> 00:02:28.024
We're like what so?
00:02:28.024 --> 00:02:39.793
Um, I've noticed a trend on social media of people in midlife being let go from their jobs that they've had 30 years, 25 years, and I'm like, oh my god, what do you do?
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I don't.
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All you can do is try to pick up the pieces, but it's hard.
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Now, the good thing that I will say is that you can work for yourself.
00:02:48.713 --> 00:02:55.711
At this point, you can Uber door, dash there's something to do to kind of tide you over in between.
00:02:55.711 --> 00:03:00.771
We didn't have that back in the day, but I really don't remember a lot of layoffs happening back then.
00:03:01.300 --> 00:03:25.306
But yeah, it's hard for people that are being laid off and I just want to say this economy is hard on people period, because you have an influx of gas prices, food prices have increased, and then what I realize is I feel like my young adults are in my pockets a little more, and what I have to take into consideration they're not really making enough to be able to sustain, you know they've moved out on their own and they're like, oh gosh, we didn't.
00:03:25.306 --> 00:03:28.372
Of course they didn't anticipate the prices of gas going up.
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Food going up so like mom, can you spot me, 20, can you spot?
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And I'm like geez, so I'm having to do more for them as if they were like still in the house, and so that's taken away from my plan.
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I'm just like this is just crazy but it kind of affects you too, so they have to understand, like they don't make as much.
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I may not be making they don't either like, yeah, like that's why I'm going back home yeah see, we got two different, we kind of got two different things going on.
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I think that the two of you could really touch on because, like you said, you've been laid off twice in two years now see young.
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You being laid off would have been like.
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Well how did it, it turn, it was it.
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I was.
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The first time I was unemployed, probably two months so God helped me out on that one, because right when they laid everyone off, I was at the point because I was working remote and I said I'm gonna get me a second job.
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I was gonna be one of those remote workers that had two jobs and clearing well over six figures.
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That was my goal and I had picked another job and so I was supposed to start it the month after I got laid off.
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So my transition was easy, because I had just started the second job and started the second job and they were like, oh yeah, thanks, guys.
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We were like what?
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So then I was left with nothing.
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I think I was able to sustain because I was doing some work for you and you know unemployment ain't.
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Yeah, that was right in the middle of me decorating.
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Oh, that's.
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Oh yeah, okay, yeah, that was right in the middle of me decorating.
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So that was the blessing that I was able to sustain seven months unemployed because I was applying, applying, applying applying.
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I remember how frustrated you were, oh my gosh, because younger me, or not even younger me, I want to say a couple of years ago.
00:05:06.408 --> 00:05:17.473
I think about jobs like it was not a problem getting a job but because of tech and everyone wanting to get into tech, the market has become severely saturated.
00:05:17.880 --> 00:05:19.343
So the skills that I've had.
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Now I have a thousand more people competing for the same position that early on I would have been able to get with no problem, so it was just stressful.
00:05:28.065 --> 00:05:33.826
And then applying online through the regular means of trying to gain employment wasn't enough.
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I received a job through somebody I know.
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I had to start going outside of online to people like hey do you know anyone that's hiring?
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Hey do you know anyone that's hiring?
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And that was the only way I was able to get a job, and it was actually the job I got laid off for.
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It was someone on my team.
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I was his boss and it was a couple of people that were on my team and they found out I was unemployed and like four of them started Going hard, trying to go to their employees like she was a good boss.
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Blah, blah, blah.
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Do we have anything?
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for her and one of them hit and he was like listen, come over here, interview and I interview.
00:06:08.468 --> 00:06:10.021
And they're like, yeah, we're gonna bring you on.
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Thank you, jesus but just going the conventional way to gain a job wasn't enough, and even my job now is a contract position contract positions can end at any time.
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So I still don't have a permanent employment situation.
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I I'm still like Lord.
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What am I about to do?
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Which is why I'm trying to go so hard outside of trying to do serial entrepreneurship something else?
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Because I don't even know how long this is going to last.
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They renew it every six months.
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They may figure the next six months.
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You know what?
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We don't need her.
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And then I'm back to square one.
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It's oh my gosh, and I've still been actively placing resumes out there for a year and a half and I haven't gotten any hits in a year and a half.
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And I don't know if it's a ageism thing.
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I don't want to believe that, but I believe that you know.
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So they tell us to tailor back some things on our resume to not show your age, because I have plenty of experience, and I'm like, why is no?
00:07:02.447 --> 00:07:06.077
One calling me, it's just it's it's scary.
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How do you prepare for every six months, knowing that you don't know if you'll have a job or not?
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Do you do anything now?
00:07:11.512 --> 00:07:12.423
Or any tools?
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I'm not prepared no, I'm not gonna lie, I'm not prepared, because I'm still trying to help my kids.
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I'm still trying to catch up on past due.
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When I was laid off, yeah, I got behind on all of my bills, and so I'm still trying to play catch up with all of that.
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And I'm just like, oh gosh, no, I don't.
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Honestly, I don't know what the hell I would do.
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I just I'm like Lord, you got me through, he gets me through, and that's why I just have to keep having faith and just keep trying to figure out another way to make more money, because I just one thing I will suggest is I use the company called budget besties and actually found them on a podcast and they helped me create a budget, and so my income fluctuates every month like I don't know.
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It could be high, it could be low, and so she helped me set up a budget to where I know my basic bills are paid every month because I know the minimum that.
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I'll get is this amount?
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yeah, and anything over that is going to go this bucket here, this bucket there.
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I can have some spending, my GLAM account and all that stuff.
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So that really helped me out.
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So now I'm like a month ahead on all my bills.
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I used to do that when I was younger and I had all of them, and then I got really far behind, but now I'm a month ahead, so I know if something happens like I'm not contracting, Luckily I a really good season right now.
00:08:21.326 --> 00:08:23.511
Like I have too much work, I need to probably turn stuff down.
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So I'm like, now that I'm in this season, let me take care of stuff in the future.
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So if something else happens, you know a couple months down the line.
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I know I got at least a month in the bank where I'm good, I just got to catch up.
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Yeah, so I will recommend budgeting, if you can.
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But that's why I contemplated selling my house.
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I was like you know what, let me just sell and get this money and then just rent and pay all these people off.
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Have you know, some savings, invest in some things, but hell, rent, rent is higher than your mortgage.
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It's higher than my mortgage and I was like no, it is.
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And then I'm not in a position to refinance because my credit is shot for me, losing job and getting behind on my my payments and got late, so they're like, yeah, we're not.
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What is the purpose of having a house if you get in a situation?
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and can't you I can't use.
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It's an asset to me, but I can't utilize it but then I told you, someone did say okay, yeah, we'll let you on pull some money out but then they want 30,000 out and they wanted so much of it or something.
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Well, no it was.
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I could pull the 30 000 out, but my mortgage was going to increase by 900 and then after closing I was only going to walk away with 15 000 that don't make sense for me.
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It's like you're trying to put me in a more jacked up situation.
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So I'm like you know but a lot that's that, a lot of that predatory.
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Yeah, because people are so desperate they only see that immediate fix.
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Yeah, and I was like damn that I try to get work on my credit and keep trying to save and just no, it's just, yeah, it's just it's terrible, wow, but I do know if, at the end of the day, my house is an asset and, where I chose to live, I have plenty of equity in it and it just keeps growing.
00:10:07.908 --> 00:10:16.428
So if my back was ever against the wall, it's yeah, go ahead and sell and you'll be able to walk away with some money and come sleep on somebody's floor.
00:10:17.500 --> 00:10:21.013
We'll go to Costa Rica and cost like $500,000.
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I can live.
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I can live real good.
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Yeah, that's my backup plan.
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At this point, if I have to, I just have to sell my house.
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Oh, my goodness.
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Honestly, that's mine too Now from the opposite side.
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I'm switching back over here to you, because now you're preparing for retirement in this economy, right.
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I'm good Like what.
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I got this, I mean but-.
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What do you prepare?
00:10:45.331 --> 00:10:46.673
Some of the things you're doing to prepare.
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My house is paid off, which is a blessing, yeah.
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I just did my due diligence, to be honest.
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But you know what I mean?
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It was different, but I just did my due diligence.
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I don't even know where I learned it from.
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Well, no, I got it from my mom because, to be honest, my mom didn't have a lot, but she had a lot because, and so I learned from a real early age with her.
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It really doesn't matter, um, how much money you have, it's really what you do with it, yeah.
00:11:17.950 --> 00:11:35.754
And so I don't know, I really don't know how she did it, um, but she used to bartend and make a lot of tips and that lady used to take them quarters and and that change and that stuff, and she just did a lot.
00:11:35.754 --> 00:11:51.453
So I learned you don't even realize this when you're a kid, you know you become your parents because she always made something out of nothing and I mean that's a slang language that we say all the time but, like truthfully, yeah she did.
00:11:51.453 --> 00:12:02.888
And so, yeah, I really learned that trait with her and I used to always say I'm cheap and I'm like, no, I'm really not cheap, I'm a bit frugal and I pay attention to like finances and everything.
00:12:02.947 --> 00:12:12.471
So, just at a very young age, like I like at 22 I started, you know, the pension and the 401s, and it never came out of it, you know.
00:12:12.471 --> 00:12:19.653
And and even when I bought my house, I was like, okay, I'm not doing a 30-year plan, I'm doing a 15-year plan.
00:12:19.653 --> 00:12:43.871
And then when I do that 15-year plan, you know I'm a because I don't but I don't like bills and credit, because when we were young we were evicted and I was a, I was young, I had t trauma and weak trauma and we were um put out, like literally just put out um, and had to figure out where we were going to go.
00:12:43.871 --> 00:12:52.669
Yeah, and that's no shade to my mom, it's just where we were at the time and I was devastated and.
00:12:52.710 --> 00:12:58.250
I had a, I had a baby with me and, um, I just swore that that would never happen again.
00:12:58.250 --> 00:13:08.326
And in all my life of working, there was only one time when I didn't know my rent was going to come from once and I borrowed that from a friend who car lease.
00:13:09.067 --> 00:13:10.269
Who um gave it.
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You know I paid her back.
00:13:11.893 --> 00:13:22.350
But some of the most traumatic experiences shaped me and how I think about money and the things that I do.
00:13:22.350 --> 00:13:33.177
And I just had a child and I swore I would never be in a position where she didn't have somewhere to lay her head and so I just managed.
00:13:33.577 --> 00:13:37.567
I just managed different um it seems like you learned early on.
00:13:37.567 --> 00:13:39.269
Yeah, I learned early.
00:13:39.331 --> 00:13:47.039
I watched my mom and then I was just so young and and I, but I paid attention out of out of bad things happening.
00:13:47.039 --> 00:13:50.167
It wasn't like somebody taught me, so to speak.
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I just said what are the things that I do so that this doesn't happen to me, right, and then.
00:13:55.826 --> 00:13:57.692
But we look at the economy today.
00:13:57.692 --> 00:14:04.109
Right, these folks, these young folks, don't have a chance.
00:14:04.109 --> 00:14:08.254
So like we really have to extend grace to them.
00:14:08.254 --> 00:14:12.571
So like when you say my kids call me and they want 20 and whatever, whatever.
00:14:12.571 --> 00:14:21.767
And I know, like you said, but they got to understand the economy is bad for you too, and it is, it is, but they're still our children.
00:14:21.787 --> 00:14:26.664
Yeah, but I see what they're buying sometimes too, but that's a difference, right?
00:14:26.664 --> 00:14:28.229
Oh yeah, we lost the gas.
00:14:28.229 --> 00:14:29.110
No, no, no.
00:14:29.191 --> 00:14:36.184
So you're right, you still have to have discernment, because every single one is different, like you can look and you can see.
00:14:36.184 --> 00:14:51.105
Ok, yeah, you know everybody's different, but at the end of the day, I don't, I, don't, I, I don't, I don't, I, I don't now these kids have a lot of sense of entitlement.
00:14:51.125 --> 00:14:51.365
These days.
00:14:51.365 --> 00:15:05.910
It's a lot going on we have to pay attention to, but at the end of the day, this economy I don't know how they're doing it like for real, for real it is not set up to support them and I could really understand anger.
00:15:05.910 --> 00:15:18.428
I could see why they're angry because it's I mean, think about it a house right now, 260.
00:15:18.469 --> 00:15:24.047
I mean they start up, but no wait, but somebody's like I see younger kids living in neighborhood like he's eight hundred thousand dollar houses.
00:15:24.067 --> 00:15:28.039
I'm like what the year and see my opinion is actually but that's all they're offered.
00:15:28.301 --> 00:15:29.043
I mean you.
00:15:29.043 --> 00:15:37.671
I mean they don't have houses at a certain rate anymore, so you kind of have to start at at a certain thing, you had to have income to show that you can afford this house.
00:15:37.671 --> 00:15:43.589
So I'm like or not, because, like with the predatory, well there's that.
00:15:43.788 --> 00:15:49.284
But then there's also when you make this and they're I'm not, I'm not for it or against it.
00:15:49.284 --> 00:15:57.214
I'm gonna just say that, right, but what I'm saying is they'll look at a base income and everything else is not considered right.
00:15:57.214 --> 00:16:00.121
And then they say, okay, you qualify for.
00:16:00.121 --> 00:16:05.513
You know this, this size house and these people get in these houses and they can't afford them.
00:16:05.513 --> 00:16:06.355
They can't keep it.
00:16:06.355 --> 00:16:09.402
They can't keep it.
00:16:09.402 --> 00:16:12.559
But honestly, depending on where you live and all of the factors that go behind it, that's the setup.
00:16:12.559 --> 00:16:19.471
The setup is to give you the loan because we know you're not going to be able to keep it and we're just going to get it back anyway it's terrible.
00:16:19.631 --> 00:16:29.302
I mean my mortgage just went up 300 and I said, mine just went up and I was like well, they well when I learned about it.
00:16:29.341 --> 00:16:40.299
But when you call the county the, county said well, we haven't even put the tax out for the year yet, because I called the county because they said that my taxes had gone up and I wanted to make sure I hadn't missed.
00:16:40.299 --> 00:16:41.995
Like, wait, now what's going on, did I?
00:16:42.014 --> 00:16:42.677
miss something.
00:16:43.493 --> 00:16:44.890
Did I pay my taxes Because?
00:16:44.910 --> 00:16:46.918
it's an escrow, but they took care of that right.
00:16:47.169 --> 00:16:48.616
So I called for that reason.
00:16:49.029 --> 00:16:51.639
And I said well, you know I was caught because you know when my taxes have gone up.
00:16:51.639 --> 00:16:53.356
She said, well, we haven't even put the taxes out for the year.
00:17:00.230 --> 00:17:00.475
She said a lot of times your anticipate what's coming through the analysis.
00:17:00.253 --> 00:17:02.453
Anticipate, because the taxes ain't even out yet.
00:17:02.474 --> 00:17:05.438
But then my homeowner's insurance doubled from last year.
00:17:06.070 --> 00:17:06.875
Oh God, it doubled.
00:17:08.835 --> 00:17:17.607
Because of the housing market, the houses being so high, everybody's price went up, so the gas going to cost more to cut.
00:17:18.333 --> 00:17:19.156
It's getting ridiculous.
00:17:19.190 --> 00:17:20.000
So they're basing it on the value of your house.
00:17:20.000 --> 00:17:20.613
Everybody's value really has went up, so the price is going to cost more to cut.
00:17:20.613 --> 00:17:21.010
Probably it's getting ridiculous.
00:17:21.010 --> 00:17:21.435
So they're basing it on the value of your house.
00:17:21.435 --> 00:17:27.141
Everybody's value really has gone up, so they're basing your taxes and everything on the value of your home.
00:17:27.450 --> 00:17:30.417
That's why I say, oh, then I'll be able to sell this sucker for a pretty penny.
00:17:30.458 --> 00:17:31.701
then Then where do you go?
00:17:31.701 --> 00:17:33.094
Because if you, rent.
00:17:33.275 --> 00:17:34.431
it's going to cost more, I know.
00:17:34.490 --> 00:17:37.917
And if you buy something else it's going to cost even more.
00:17:37.938 --> 00:17:40.963
I've been talking to you about it and you're like, just sit still and be quiet.
00:17:41.009 --> 00:17:42.155
Just sit still for a minute.
00:17:42.155 --> 00:17:43.288
You'll know when it's time to move.
00:17:43.288 --> 00:17:49.077
I don't know what to do, but don't make a rash decision, because then that's how you get caught up in that predatory stuff.
00:17:49.157 --> 00:17:53.059
Yeah, I'm not even trying to pull nothing from the lighting anymore.
00:17:54.432 --> 00:17:55.113
I ain't worried about that.
00:17:55.113 --> 00:18:02.125
You know, there was a time when we thought, yeah, just ride it out, and it's going to go down and everything I don't know.
00:18:02.530 --> 00:18:03.434
It is cyclical, though.
00:18:03.434 --> 00:18:04.258
It goes up and down.
00:18:04.390 --> 00:18:10.261
Yeah, but it is cyclical, but at the same time it's taking longer for those cycles, right.
00:18:10.430 --> 00:18:10.971
At the same time.
00:18:10.971 --> 00:18:11.353
This is.
00:18:11.353 --> 00:18:17.259
This reminds me of when the stock market crashed and this was and I learned this from some rich folks.
00:18:17.259 --> 00:18:24.240
When I started looking into investing money, people were um, I learned this from an investor.
00:18:24.240 --> 00:18:32.733
He said I always know true investors and people that are not what they consider a real investor, he said, because a real investor could care less how the market is doing.
00:18:32.733 --> 00:18:33.836
You just ride it out.
00:18:33.836 --> 00:18:35.000
No, no, no, no.
00:18:35.000 --> 00:18:37.048
He said you don't ride it.
00:18:37.048 --> 00:18:37.931
You don't ride it out.
00:18:38.392 --> 00:18:41.221
A real investor makes money, no matter if the market goes up or down.
00:18:41.221 --> 00:18:43.253
Mm hmm, it don't matter.
00:18:43.253 --> 00:18:45.578
It don't matter what the market is doing.
00:18:45.578 --> 00:18:47.482
We were trained to be poor.
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