Transcript of Stop Following Your Parents' Money Rules with Haley Sacks New

You're listening to Mick Unplugged, hosted by the one and only Mick Hunt. This is where purpose meets power and stories spark transformation. Mick takes you beyond the motivation and into meaning, helping you discover your because and becoming unstoppable. I'm Rudy Rush, and trust me, you're in the right place. Let's get unplugged. Today's guest is the acclaimed Ms. Dow Jones, a financial educator helping millions understand and build real wealth, and an author of the book that is just released today, Future Rich Person. I call it the blueprint that every entrepreneur, every leader, everyone that's thinking about leveling up needs to read this book. So please join me in welcoming the insightful, the trailblazing, Ms. Hailey Sax. Hailey, how you doing today, dear?

I'm so excited to be here. Like I told you, I'm a huge fan of Mic Unplugged. And so this was like the podcast on my schedule that I was so looking forward to.

I am honored to have you on. Um, you mean the world to me. This book means the world to me. But before we get into the book that's out today, I, I wanna ask you, Hailey, you know, I ask every guest this about their because. That thing that's deeper than your why, I call it like your true purpose, your true passion. So if I were to say, Hailey, in 2026, what's your because? Why do you keep doing the things you do?

I do the things that I do because I genuinely believe that financial health is as important as physical or mental health. And it's something that's not prioritized or taught. And so people are walking through the world with all of this shame and not knowing and overwhelm, and it is degrading their quality of life when they could be living these big, rich lives. And so I do it because I want to show people that it's not that hard. You just need these steps and then it will infinitely improve your quality of life and give you access to, you know, your dreams.

Yeah, I love it. And that is truly who you are, right? Like the energy that you have, I call it the swag that you also have. It's in everything that you do, right? Your, your social media. One of the best IG followers you'll ever have is Hailey, Miss Dow Jones. So make sure you go check that out. There's links right here for that. But Hailey, I gotta talk about this book. Usually I wait towards the middle or the end of the show to talk about a book. This book is so powerful that we're just gonna go out of the gate with this book. Like, I don't care about segments. Like this, this whole segment today is Future Rich Person. So this book, for those that are listening, for those that are watching, one, go get the book. It is out today, Future Rich Person. I don't care if it's Amazon, Books-A-Million, Barnes Noble, your local independent bookstore, go get it. Because here's why. It doesn't matter who you are. It doesn't matter where you come from. It doesn't matter what you are doing today. This book is giving you a blueprint. One, to understand money, to understand circumstances around money.

I mean, we talk about, we hear all the time that you don't want debt. You don't want debt. Well, Hailey has a chapter in understanding debt and some debt is actually good debt, right? So Hailey, I want to talk first about why the book and why now? Like what made you say this book needs to come out and it needs to come out?

You know, it's so funny because the book is called, like you said, Future Rich Person, but then the subtitles are The New Rules for Building Wealth, Even If You're Stuck Broke and That Billionaire Boat Texts You Back, because we have to have a little bit of humor. But what I want to focus on are the new rules for building wealth. Because to me, why I wrote this book is because the world and the economy and our circumstances have changed so dramatically and so fast. But the financial education that we've been using and like looking to, and the books that are still like in the canon are built for a world that doesn't really exist anymore. And so it was so important to write something that was modernized, that had, you know, information about AI. Information about how to start your own business. Like who have— no one teaches you about S corps and LLCs and all of the great retirement accounts that you get access to if you have your own business. And like, you know, that's something that so many people are doing right now. Teaches you about negotiating, about good debt, about all these things that, you know, for our parents' generations were not in those finance books.

And so it was important to me to modernize financial advice with this.

No, I agree. And, and I want to go with, I'll call it an unplugged truth, right? And you hit us with it early on in the book, and I want you to talk about this. I need everybody that's watching this, listening to calm down and focus for me really quick. It's okay to want to be rich, right? There's this huge stigma of, you know, wealth and the ego maybe that some people have. I think you're looking at bad people because I'd say most wealthy people that I know are actually good humans and do good things with the wealth and the rich that they have. Hailey, why is rich good?

Yeah, so I think that we, you know, the first part of the book, Mick, is so much about mindset because what I always say is like, you can't actually change your financial life until you figure out why you have been relating to money the way that you have been. Like, I could teach you everything about emergency funds and debt and investing, but you're never going to actually make any changes. Unless you actually understand like your why. And so part of your why is breaking down your money identity. And for a lot of us, we have these money identities and money stories that, like you said, are related to like wanting money is bad. Like, you know, I'm greedy if I want wealth, rich people are all evil and all these things that sort of keep you small and stuck. But the truth is that money only magnifies who you are. It only makes you more of who you already are. If you are a weird person who's like, you know, nefarious and wants to do like things that are messed up and you've got a lot of money, then guess what? It's going to be really easy for you to do that.

But if you're someone who wants to, you know, A, be able to take care of yourself really well so you can have great healthcare and leave jobs and relationships that don't serve you and live in a place that you feel really good about, like just like these great parts of life that we like overlook. But also if you wanna help your community, you wanna be able to give back, you wanna help your parents, your family, like money is a tool to do all of that. And so I don't think it's evil at all. I just think that, uh, you know, there are rich people who are evil, but there's probably, there's broke people who are evil too. Yeah.

Yeah. Yeah. Money didn't make them who, who they were. You're right. It just, it just accentuated it more, right? Like, That's all that it was. That's all that it was. You talked earlier in your intro about different things on understanding what's an LLC C and an S and a, you know, when is it right to be a corp and all that. And, and you go through a lot of scenarios or there's a, there's a segment of the book that goes through that. I'd love for those that are watching or listening, and I want to talk specifically to that person who's just above solopreneur. Right? They're building that team. They're, they're starting to really grow revenue and maybe they didn't do anything with the legal structure of their business. Talk through the importance of that for that person in particular.

That's such an interesting point, right, Mick? Because it sounds like for this person, which I, I mean, it happened for me too when I started Mrs. Dow Jones, that, you know, you sort of play with a business idea and then you're like, oh wait, it's sort of working. And then you realize, okay, there's a lot that comes with this that I have to to put together to do it successfully. And so when I started Mrs. Dow Jones and started making real money, I didn't really understand quarterly estimated taxes. Like I was just depositing checks, feeling really great about life. And then, you know, tax season hit and I got slammed with a giant bill that I was unprepared for and had to scramble and cover it. And, you know, that tax awakening is something that most solopreneurs have, and it is completely avoidable if someone just tells you ahead of time and you start taking like 30 to 40% of each of your paychecks and just putting them in a high yield savings account so that when tax time comes around, you don't have any surprises. Have you ever had a tax thing like that happen?

Oh, absolutely. Absolutely. Multiple businesses. You would've thought I learned the first time, but the first time I thought, okay, it was an anomaly. And then the second time it was like, oh crap. I, I kind of need to focus on this and do the right thing. Right. And, and it changes too, you know, the, the same setup for person one, and you go through this in the book, isn't the same setup for person two, even if they kind of look identical on paper. Right. Like you gotta talk about the vision that you have for your company, you know, what's going on in your personal life as well too. Like there's a lot of things that go into these structures and I don't think most people get it, but you break it down beautifully.

I really appreciate that. I also want to shout out something that I talk about in the book too, is like the separation of your business and personal finances. Because obviously, like I say this so much in the book, like you are your best asset, like invest in yourself, like build your skills. So much of the book, it's a, it's, this is not a shameful finance book that's about like cutting back, no lattes, no avocado toast. It's about like You as a future rich person making more money and then knowing what to do with it and also avoiding spending it all, even though we are in this society where like, you know, our parents were advertised to 500 times a day and we're advertised to 5,000 times a day. So it's hard, but when you start a business, I think a lot of people are like, okay, I got to go all in on the business. But, you know, it's so important to make sure that you are also putting money away for yourself, just like in those retirement accounts, because you never know what's going to happen, even though you want to bet on yourself so big, never go all in.

Yeah. Yeah. I love it. And, and, you know, that's one of the subjects in the book, right? Is like how to save money, but you also talk about how to use money. Right. And one of my favorite chapters in your book is chapter 7. And for those that are, that are watching or that are listening, the way the book is set up is You're gonna get a topic, you're gonna get a scenario, you're gonna get the real inspiration. So it's like Hailey having a conversation with a business owner or a person, and you're walking through something that everyone can relate to. But chapter 7, we talk about Money 911, and I saw the title and I said, I'm reading this one. And it was so good that I had my two sons also read it who were in their mid-twenties, early twenties. Because it's really important for them to understand, like, they hear dad talk about money, right? They have friends, they see things, they understand wealth. And I'm not saying I'm wealthy, but they understand, like, they understand money. I want them to be future rich people, my sons. Just because dad might have $2 doesn't mean that it's their $2, right?

So I wanted them to understand that as well too. But let's talk about Money 911. And let's talk about chapter 7. Walk us through high level that story, you know, going through the freelance web designer, which I think is so relevant here with everyone being able to vibe code and to create their own websites and to create services that are making money for them. I thought this was so relevant, which is why I had my son start with this chapter actually, because Everyone can go do their own thing now with vibe coding and creating apps and AI. This chapter resonates. So, sorry, I didn't mean to steal the thunder, but—

Oh, I'm like, I, it's so cool to talk to someone who like really read the book and who it sat with. Like, this is like my dream conversation. I appreciate it. Um, okay, so what Mick is talking about is yes, chapter 7, Money 911, which is really about the importance of an emergency fund, which is, you know, that's sort of the first step in your financial journey. After mindset is putting away 3 to 6 months in a high yield savings account because anything that can go wrong will go wrong. And if you don't have that, it just puts you in these really precarious situations. And so the story that Mick was talking about was, and throughout the whole book, if you're watching, there's, I have these interviews with real people in them, which I think was like a really fun way to sort of get the story across. But also it was just like so fun to talk to people because sort of makes you feel less alone in your money journey too, because you're like, oh, everyone is figuring this out. But anyways, this woman, Kai, was freelancing, as you said, she was working for this homemade baby food company and they paid her half of the amount before and then they went under before they paid her the other half and she couldn't afford her rent and she didn't have an emergency fund.

And so she was scrambling and was like, okay, this is really smart, even though it's not allowed in my building. I'm going to Airbnb out my apartment, stay with my parents, and then I'm gonna be able to make rent. And what she didn't account for, and this is true, were the people who Airbnb'd her apartment had bedbugs. And so she came back to the apartment and it was like a total mess. She needed to call the exterminator. She needed to let her landlord know. And it just like came out that she had Airbnb'd and she got kicked out of that apartment. She had to pay actually more money to get all of the, you know, bedbugs and everything out of there and had to move in with her parents. And so it was like, just by not having that safety net put herself, she, everything became so much worse than if she had just had that. And like 49% of Americans can't cover a $1,000 emergency. So you can imagine how much Kai's story is happening.

Yeah. Yeah. It's, it's a beautiful story. And I will tell you, if you are a parent of a teenager or older, I would definitely, one, buy the book, but two, I would start with this chapter for them because this was the conversation that I had with my two sons, Jay and Kamin. I know you're listening. I know you're watching. So I'm just gonna share our dirty laundry really quick. Right? I needed them to understand because at some point you have to, I'm gonna say, financially mature. And by financial maturity, I mean it's not, hey dad, it's towards the end of the month and rent's gonna be due in a couple of days and I need some help. And I'm not saying that my boys do this or have done that, but I need everybody to understand, like, How do you prepare for that maturity? And so I'm gonna give a hot take that I'd love for, for Hailey to chime in on, 'cause this is gonna be her hot take because it's her message. You famously have said that the rules of money have changed, right? And I think now is that time. Like, I'd love to get your continuation of that quote.

Like, why isn't following your parents' advice going to make you wealthy anymore?

You know, Mick, because the old American dream is dead. You know, our parents' generation, they would be at the same job for 40 years. They had a pension at that job. They had equity in a home that they could actually afford the home, which is crazy for our generation. And then, you know, uh, were going to resell it for a profit because the job, the housing market was really different. The student loans were really different. Access to credit was different. There were just so, it was such a different time where you could trust the system more than you can now. Now it's like, that's why reading Future Returns is so important is because, you know, the system was always created by the people that it serves. So that's like why rich people save so much on taxes because the tax code was written by the people that it's protecting, you know? And so, but that doesn't mean that you have to be a billionaire to benefit. It just means that you have to understand the rules of the game so that you can win at it. And if you don't, then you're never going to get ahead because the system is out to get you.

It is a predatory financial system. At every turn, they want you to get into debt. They want you to set up accounts that have high fees. They want you, like, there's just so much coming at you every day that is nefarious and trying to take your money. And so you need to wise up and really commit to your financial literacy so that you can win regardless of that.

Yeah, I, I love it. I love it. I love it so much. You said something that I've said a thousand times, so I'm glad that you were able to say that so that the listeners and watchers don't have to say, Mick's just gonna say that again. Hailey said what I've been telling you forever and ever and ever. You know, Hailey, I, I like to talk about the room, right? Like, I think for everyone, your life changed when you got into a room or a dinner or a meeting with, with someone that could mentor you or show you something, and it, it changed the trajectory of your life or your career. Ironically, you have a chapter, chapter 12, where you talk about money etiquette. And if I were to say the room that changed me the most was, and, and I'm gonna say John didn't use the term money etiquette, but it's the same principle. The moment that Daymond John taught me how to appreciate money, how to see money, and how to understand how money works for you, right? And again, it's that appreciation of money, not the love of money, but the appreciation. And that's what chapter 12 reminded me of.

It reminded me of a room. So I'd love for you to one, tie in chapter 12, the money etiquette, but was there a room? Was there a moment in your life where money etiquette meant something to you?

I mean, I've learned so much from Damon too. I love his work around money, and I think for me, The room where things really changed around me with money was as I became more successful, rooms where I was with people who were not as successful and learning how to, because it's, you know, when you are chasing financial success, that's something that you can be really focused on. But I firmly believe that like, you know, the best relationships are not with people that you know, have the same paycheck as you. It's just like people that you actually like connect with and vibe with and have the same values. And that might not like mean that you have the same amount of money, but like, uh, money can be something that really like alienates people and makes them feel weird. And if you are, if you move with it in a way that feels like, um, you're holding on too tight or you're nickel and diming people or you're tacky or you're not respectful of where someone else is at financially, it can really degrade your relationships. And so, yeah, I think that those were the rooms where I, where my money relationship really like, where I had to like up my money etiquette the most.

But, you know, and even like having conversations with your friends or your spouses about money, like it's so important to do this and to be upfront, but the way in which you do it has to be handled with grace and elegance and also sort of just like I always think a little bit of humor goes so far. Like, I love to like, you know, smile and like be funny about things that are super serious because it just cuts the— takes the air out of the room a little bit. Like, it makes people relax a little bit. But, you know, this chapter, I get so many questions about money etiquette. Like, we're all trying to fix our money mindsets, and then of course we want to grow wealth. Then the idea is when you have the money, what do you actually— how do you move with it? And money is energy. You have to remember. So like, if you hold onto it too tight or, you know, you are acting in these ways that are, that are unsavory, it's not going to come to you as freely. Like you have to be in relationship with it in a way where it will come back to you.

And so that's why I also think that money etiquette is so important.

Yep. I, I totally agree. And I love how you wrote that chapter one. Again, I'm going to keep bringing up this book. Everybody go get it. It's right here. We're going to have links everywhere. There's descriptions, show notes, and everything. But you know, you start off with the Beyoncé little quote and then it goes into, it's almost like the Ten Commandments, right, of money etiquette, which I love how that's written. And so again, my kids, I have them start with chapter 7 and then I go to chapter 12 just because I like that flow for them. And, and this is why this book is amazing. This book, one, when you read it again, go get it today. You can take this journey wherever you want. Like, yeah, I'm sure Hailey wrote it to go from page 1 to the end.

No, I'm loving that we're moving around.

Yeah. Like I, that's how I like to read books like this because there's gonna be days where it's like, oh, let me go back and read chapter 5 again. Let me go talk, let me go read into part 2 on making money and why that's important. Right? Like I think it's, it's, it's a book. That's so cool. And then, you know, we talk about— Yeah.

And we also have a full chapter on rich kids too. So like if you're someone who's trying to build generational wealth for your child, that's the same way that, you know, no one teaches you about business structures. No one teaches you how to do that either, but it's actually pretty simple. So I break that down as well. Like there's just, it's, it's everything that you were never taught about how to win the game of money. And written in a way that's like so palatable and easy. Like, I love that you were able to read it just like, like my goal with writing the book was like, you know, so many people buy finance books and they never crack them because it feels like this, like, like it feels like punishing to read it. Like as though like you're going to read it and you're going to feel like you got in trouble. And I wanted it to feel like a book that's actually like fun and that you wanted to enjoy and finish and pass on to your friends and your kids. But that's going to teach you.

It is definitely that book. So again, everybody, you can see it. Go get the book today. Future Rich Person, Hailey Sachs. Hailey, I gotta get you outta here on my rapid fire.

I can't wait.

You ready?

I love it. Yes.

Number 1, who is the wealthiest person that you've been around and the moment you met them, you were like, how the heck did they get here? Now I'm saying, I'm, I'm joking. Don't say that out loud. Don't say that out loud. Don't do that. Now, what's your go-to meal on a cheat day? Comfort meal.

Spaghetti pomodoro and chicken Milanese. So like spaghetti with tomato sauce and like fried, basically fried chicken. It's so good. Okay. I got it from this Italian restaurant, so that's why I said the Italian names.

There it is. There it is. If you had to do a masterclass tomorrow on one chapter of your book, Which chapter would it be?

Investing.

Love it. I love it.

You know, I love to get that money in the market.

Absolutely. What's your favorite vacation city?

Um, you know, I like the Caribbean, so I'm not really like a— oh, I guess if I was to say city, then Paris, but like, I'm— okay. I like just to go on the ocean for about a week and then I feel much better.

All right. Then number 4, what's your favorite Caribbean country then?

Saint Lucia.

Nice. Nice. Nice. I'm gonna get you out of here on this one. In one or two words, if you had to define Hayley Saxx, what would those one or two words be?

Fun and smart.

There it is. I love it. I love it. Ladies and gentlemen, this has been my good friend Hayley Saxx. You're so busy. You're so gracious. I appreciate you just taking some moments here with us today. Again, I can't, I won't be remiss without saying, go get this book. Zoom in, cameraman, zoom in. Like, this is the book, Future Rich Person. Um, the book is so great. I'm gonna do this. We, we'll go Instagram. The first 20 people that message me on Instagram, Future Rich Person, I'm gonna go ahead and order you a copy of the book. So I'm gonna order 20 copies of the book. I'm gonna give them to 20 people. Uh, message me @future_rich_person on Instagram. And then after you've read the book, do me a favor, tag Hailey and I, picture of the book and the thing that you got out of the book the most, because that'll help both of us. That will help both of us.

We are so lucky to like be in Mick's present. What a nice. The kind gesture, helping your auntie is really, really, really beautiful. Thank you.

You got it.

Overwhelmed, Mac. I'm gonna cry. That's so nice. Thank you guys.

Don't be overwhelmed. Don't cry. Don't do any of that, but I appreciate you so much. You mean the world to me. I need everybody to go follow Haley on social, check out her websites. We'll have links to all that in the show notes, in the descriptions. Haley, you're amazing.

Love everything about you. You are amazing. Oh my gosh. This is so awesome. Thank you, Mac.

You got it. And for all the viewers and listeners, remember, your because is your superpower. Go unleash it. That's another powerful conversation on Mick Unplugged. If this episode moved you, and I'm sure it did, follow the show wherever you listen, share it with someone who needs that spark, and leave a review so more people can find their because. I'm Rudy Rush, and until next time, stay driven, stay focused, and stay Unplugged.