Boss Lady Investing

**SPEAKER_1** (0:01)
Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks. Invest in your life.

**Kirk Chisholm** (0:11)
Hello, Smart Money Tree Podcast listeners. Welcome to this week's show. My name is Kirk Chisholm, and I'll be your host. So today, I'm joined with Krista Goodrich. How are you doing today, Krista?

**Krista Goodrich** (0:19)
I'm doing wonderful, yourself?

**Kirk Chisholm** (0:21)
Doing great. We're glad to have you in the show here. Maybe you can tell us a bit about yourself.

**Krista Goodrich** (0:24)
I started off in mutual funds. I was the first person to graduate college in my family, and I got a job in mutual funds and did not know what a mutual fund was. So I got a very quick education. Even though my degree was in economics, they did not teach mutual funds at my college. So I got a very quick education when I started working at the firm. We were eventually bought by AXA and then Goldman Sachs, and I was promoted quickly through the company up to national accounts. And so I had access to learn more about a lot of options out there, like 529 plans. We were one of the first companies to have a 529 plan. So I got very well educated on that, traveled around the world teaching advisors about 529 plans back when they first came out. I worked with the NBA plan on their 401k and their players association, their new members, to train them on how to not spend all their money quickly.
I worked on the Sarah Blakely account and the Spanx retirement account. And then eventually, because of a variety of things that happened in my life, I needed to step out of corporate America and I started starting businesses. And since then, I've started over 20 businesses, anything from trucking, trash hauling. I've had a non-profit thrift store. I own a real estate company. I own a couple of property management companies. I own a brewery, factory, women's retreat company, a wedding venue, all kinds of different things. So I've just really filled my portfolio with investments in business, in the market, in real estate. And so today, I run some of my businesses, many of them I'm hands off. Obviously, I can't run them all. I recently published my second investing book. So I've got two investing books out there and just got back from Italy where I took a group of executive women on a retreat through Italy. So I have a pretty fabulous life.

**Kirk Chisholm** (1:59)
So what do you do the rest of your day?

**Krista Goodrich** (2:01)
On Tuesdays.
So the biggest part of my time is actually spent on one of my businesses is Salty Dog Vacations. We do vacation rental management, and I'm also a very active vacation rental investor. And so a lot of my time is spent analyzing deals both for myself and for potential buyers or clients that we already have. Because as you know, the real estate market has changed. In Florida, I think we're extremely overinflated right now.
And so you have to navigate the waters of what makes sense. I don't believe in just stopping investing, but we also don't want to invest in everything and anything just because everyone wants a vacation rental. So that's what I spend most of my time doing is analyzing deals. I'm going to do that after the show actually today.

**Kirk Chisholm** (2:43)
So talk to me a little bit about your transitions. You started on Wall Street, you started working with Wall Street firms, and then you went into the private company. You started working with private companies and real estate.
Why not just continue working with public investments? What's the draw for private investments over public?

**Krista Goodrich** (3:00)
So for me, it was very personal. I was a single, I was single at the time, and I ended up being brought forward, a little girl who's my half cousin. I mean, back then I was 26 at the time and she was six.
And I adopted, she's now my daughter, now she's almost 30
But anyways, I adopted her. And during that time, I needed the ability to work from home, to be there for her. She had been through a pretty traumatic experience, and I was the only parent. And so I had to make some decisions and that involved my career. And that's obviously something a lot of women face, and I had to make that choice, but I wasn't willing to give up being wealthy. And so I said, all right, let's just figure this out from the house. And that's where I started and just worked like crazy. My daughter will tell you I'm a workaholic, always have been, and was able to use a lot of grit and figure it out. I love being in the public sector. I loved my job in mutual funds. It was fabulous. I met incredibly intelligent people. I was learning a ton of information, getting great investment advice from people all around me. But unfortunately, my life was not gonna work for that. There was a little girl that needed me more than the stock market needed me. So that's why I made the transition.