Ask Me Anything 3 // Diana Yañez, MA, CFP, RLP
▶️ Watch on Zoom to see the full chat and transcript.
🔐 password: Imn0tfre@kingout
CFP Diana G. Yañez sits down with the New Dimes community to answer questions like:
I'm a high school Biology teacher who doesn't make nearly as much as teachers deserve to make (am I right, am I right?!). On top of paying off my regrettable and horrifying credit card debt, student loans, bills, and health bills, I also have my older titas/titos/dad/mom that I have to take care of and give allowance to. I am also now slowly taking control of their finances by managing their credit card payments and bill payments. I am learning scary stuff about their financial history. I feel like there is a giant monster under the bed just looking at all of it. I need help, SOS! How do I make this financially (and mentally) sustainable for myself without giving up on them? I'm already struggling with my crap, now I have to make sure their crap is taken care of too!
I feel so much pressure to figure out a way to support my mom so she can retire. She is 66 and works full time as a CNA and is a caregiver and sole provider to 5 (grown ass) family members. She spent most of her retirement money on an ADU that did not work out and has $40k left. What's the best, least risky strategy she can take to make her $40k grow and help with retirement?
My father turns 65 next year and is planning to retire then. He's in construction and has a union pension. How much social security will he receive? Is there a tool that lets us calculate the amount based on his monthly pension payment (approx $3,500 per month).
I'm in the process of trying to buy my first home (condo) and I'm really nervous about what it means for my future / retirement / quality of living. I'm wondering how I can feel like this is the right choice for me financially. I’d also love to know some strategies for responding to your mother when her only answer to talking about future money scenarios is “we’ll be fine”?
Being proactive about funeral planning for a parent sob - thankfully I have a parent who is still relatively healthy AND open about discussing this with me! But I feel very alone in navigating this space. While I do have family members experienced in funeral planning, those relationships are either distant or strained. Another challenge is planning for the ceremony across two cultures when I am less in touch with my Vietnamese side - it is terrifying. I'm currently also financially supporting a sibling - but maybe I can delegate some things to him that don't cost him money? I don't even know where to start. HALP
What's the 101 on writing off donations made to non-profit organizations? Tips on keeping track of donations, and what does/does not qualify?
Can you help me create a budget/ financial plan for 2025 based on my values with wiggle room for compassion and grace? I'm having a hard time breaking it down because assigning a number and sticking to it each month. I get emotionally defeated when I don't match the exact number on my budget every month. I feel like my budget now is very reactive. I analyze what I spend vs tell my money where to go. I want to use 2024 spending as a guide for 2025 financial plan but with more intentional and proactive. I'm a hourly paid, subcontractor. I make the bulk of my money in 8 months.
💌 Get in touch with Diana
La Bougette et La Lune- 4-week course on money management to create supportive cash flow practices
All the Colors - Diana’s company where she transforms the state of money management for women of color entrepreneurs worldwide. Her vision is to create systems for their money to become a stable and supportive foundation for themselves, their loved ones, and their community.
Strategy Squad - an RIA for individuals and families living lives of abundance and impact through values driven investments
🥧 Alllll the resources shared by attendees in the AMA chat
All Your Worth: The Ultimate Lifetime Money Plan (A Guide to Personal Finances) by Elizabeth Warren
Sasha Heron, Death Doula
