255 | If People Can Do it Then I Can Do it Too | Leslie Tayne Connects with Vivian

<ul> <li>Picking back up with the Household of FI series, Vivian is a single mom who found FI in the last year, but initially, it seemed impossible. It wasn't until she was introduced to the ChooseFI podcast and saw real people reaching financial independence that she believed she could do it too.</li> <li>Vivian has been dealing with a number of challenges: a cancer diagnosis, a child custody battle, and caring for parents who have no savings of their own.</li> <li>As a pharmacist, she earns a significant income. She's already managed to pay off $300,000 in student loans in six years and believes she can save $60,000 a year.</li> <li>Vivian has been paired with mentor, Leslie Tayne, also a single mom and attorney who helps people with debt relief.</li> <li>Leslie acknowledges that what Vivian is going through with her separation is one the most challenging times in her life and it is a very emotional experience along with being financially damaging. However, there is a light on the other side and she will come out with more freedom and more control.</li> <li>Because her significant other's mom used to watch her child while she was a work, childcare is a challenge right now. Childcare is expensive and not something you can find discounts on.</li> <li>As an attorney, Leslie helps her clients to fix their financial messes without judgment. She doesn't believe in a debt-free life since life has its ups and downs. Instead, it's okay if being debt-free is not realistic. We should learn to embrace our debt but what is important is how you manage the debt.</li> <li>Due to the separation, Vivian will be selling the house that is entirely in her name. If she makes a profit, she should talk to her tax preparer about qualifying for a capital gains exemption.</li> <li>Vivian is also interested in ways to save for her child's college education to which Leslie offers several options: contributing to a 529 plan, a state pre-pay program, or a regular savings account.</li> <li>There are tax advantages to contributing to a 529 pla