Episode•April 15, 2021•33 min

A Touch of Woo Woo With Bevin Morgan | Ep. 57

Tiffany sits down with Bevin to talk all things financial wellness. Bevin shares some gems when it comes to investing and gets real about her real estate investing strategy. In this episode, learn everything you need to know about contributing to your 401k, paying off debt, and so much more. About Our Guest Bevin Morgan is a Financial Wellness Coach that specializes in helping Black female entrepreneurs and creators gain confidence in their financial futures with a touch of woo woo. Through either 1:1 coaching or her new group course, you will learn to manage your money mindset, create an ideal future vision, get intimately familiar with your current reality and then take the one next step you need to fix your finances. If you don’t need coaching, join the private social network (no, it’s not a Facebook group) to find accountability from women like you, curated resources and expert advice to help you bust through your current financial challenges. Connect with Bevin Email: [email protected] Instagram: instagram.com/bevinmorgan Facebook: https://www.facebook.com/bevinmorganfinancialcoach Connect with Tiffany on Social Media Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant YouTube: Money Talk With Tiff Channel Pinterest: Money Talk With Tiff This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Investing and debt payoff can coexist—especially with 401(k) matches
Even without a company match, pre-tax 401(k) contributions reduce taxable income and are effectively invisible from your net paycheck
Starting at 26 vs. 38 can mean decades of compounding; early and consistent small contributions outperform waiting until debt-free
Rule of thumb: roll old 401(k)s into IRAs upon leaving an employer to avoid hidden fees and gain broader investment choices
2
Real estate isn’t automatically the best path—match the strategy to your lifestyle
Buy-and-hold rentals require ongoing tenant management; consider REITs or crowdfunding if you want hands-off exposure
House hacking (FHA 3.5 % down on multi-unit) can accelerate wealth, but only if you plan to stay long-term and handle maintenance
Before buying, spend 45 minutes honestly assessing whether the time commitment aligns with your goals and bandwidth
3
Homeownership is a long-term, multi-generational decision—not just an emotional milestone
Land is a non-renewable asset that can be passed down; think beyond your own lifetime when evaluating purchase
Owning isn’t cheap—unexpected repairs, yard work, and maintenance costs hit immediately; budget accordingly
If you won’t stay 5–7 years or don’t want the responsibility, renting may be the smarter financial move
4
Start investing now with whatever amount you have; accessibility has changed
$5–$20 recurring contributions via robo-advisors or micro-investing apps remove the old $3 k minimum barrier
Whole-market index funds provide simple, diversified exposure without stock-picking or hype
Consistency beats timing—let compounding work rather than pulling money out after one year

Intro

Tiffany explores the intersection of debt payoff, investing, and real-estate strategy with financial-wellness coach Bevin Morgan, emphasizing mindset and practical next steps for Black women entrepreneurs.
Bevin Morgan is a Financial Wellness Coach helping Black female entrepreneurs and creators build confidence in their finances with a blend of practical planning and mindset work.

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– Why Closing the Racial Wealth Gap Matters

Bevin shares seeing the disparity firsthand: a 23-year-old client with no student debt versus clients 10 years older with negative net worth despite running businesses.

It’s just so easy to see the system that was set in place for them to make it almost impossible for them to broach that gap.
– Bevin Morgan

– Rethinking Dave Ramsey’s Debt-First Stance

Both hosts followed the Total Money Makeover but now advocate simultaneous 401(k) contributions—especially when a match exists—because the dollars are effectively invisible from take-home pay.

If I had started back then when I was 26… just imagine how much we would be sitting on.
– Bevin Morgan

– 401(k) vs. IRA & Rolling Over Old Plans

Tiffany advises rolling former 401(k)s into IRAs to avoid post-employment fees and unlock the full market instead of a limited menu.

Pre-tax contributions lower taxable income
IRAs offer broader investment choices
Leaving money behind means paying unnecessary fees

– Accessibility Revolution: Robo-Advisors & Micro-Investing

Modern platforms let anyone start with $5 recurring deposits; Bevin’s change-round-up account reached $1 k with almost no effort.

You don’t have to be rich to get rich necessarily.
– Bevin Morgan

– Real-Estate Reality Check

Bevin’s buy-and-hold duplex strategy works but is time-intensive; she’s considering liquidating into REITs for a more hands-off approach.

Real estate is not for everybody and it’s not as sexy as the internet would make it seem.
– Bevin Morgan

– REITs & Crowdfunding Alternatives

Tiffany explains public vs. private REITs and cautions listeners to understand liquidity and fees before investing in any private placement.

Warren Buffett always says he does not invest in anything he does not understand.
– Tiffany Grant

– House Hacking Regret & the American Dream Timeline

Bevin wishes she had used an FHA loan on a multi-unit property in her mid-20s instead of following the traditional debt-free-then-buy path.

If I had thought about it more closely, I would have said, by the time I’m 38, it’d be really great if I was sitting on a nice big pile of cash.
– Bevin Morgan

– Is Homeownership Still a Wealth-Building Tool?

Tiffany views land as a non-renewable, generational asset but stresses budgeting for repairs and choosing based on longevity, not emotion.

Land can be passed down from generation to generation.
– Tiffany Grant

Books Mentioned

The Total Money Makeover by Dave Ramsey

Resources

Topics

InvestingDebt PayoffReal Estate401kMindsetRacial Wealth GapHomeownershipREITsFinancial CoachingWomen Entrepreneurs