Former Wall Street trader who is set to rack up a $25 MILLION fortune reveals her top tips for accruing wealth quickly and WITHOUT scrimping on luxuries

A personal finance expert who started her career as a trader on Wall Street wastes collecting the secrets of wealth while not skimping on life’s little luxuries.

Vivan Tu, who goes by the name Your Rich BFF on social media, appeared on the podcast Leveling Up with Eric Siu to promote her upcoming book, Rich AF: The Winning Money Mindset That Will Change Your Life.

She shared with the host that her ideal net worth would be in the $25 million range and revealed her strategies for reaching that figure – including everything from ‘being selfish’ to legally evading taxes as a way to increase your bank account balance to push

Vivian, 28, kicked off her graduate career as an analyst at JP Morgan, where she earned $80,000 a year plus bonuses, before moving to a sales position at Buzzfeed, which commands a mid-six-figure salary brought in by her commissions.

Vivan Tu (28), known as Your Rich BFF on social media, appeared on the podcast Leveling Up with Eric Su to promote her new book

Vivan Tu (28), known as Your Rich BFF on social media, appeared on the podcast Leveling Up with Eric Su to promote her new book

She shared with the host that her ideal net worth would be in the range of $25 million and revealed her strategies to reach such a figure

She shared with the host that her ideal net worth would be in the $25 million range and revealed her strategies to reach such a figure

Since early 2021, Vivian has poured her energy into building her brand as Your Rich BFF, using her platform to share tips and tricks for everyday people to amass personal wealth.

“What do people do wrong with their money?” asked host Eric.

“You know, I think a lot of us really focus on cutting and saving,” Vivian replied.

“I’m not buying that avocado toast. I don’t buy that Starbucks. It’s hard! You give up a lot of things that you really enjoy.

‘How easy is it to ask for a $10,000 raise? It is absolutely heard of. As in happens all the time, happens to so many people.

“A $10,000 raise really isn’t that outlandish, and you can get one by just being responsible and making sure you come to the table with quantifiable facts and a good excuse to your boss as to why you deserve one, ‘ she said.

‘It’s easier to make more money than to cut out all the things that bring you joy. So my advice is, hey, focus less on the coupon clipping and the small little things. Focus on the big things.

“Because if you don’t ask for a raise every year, it doesn’t matter if you try to save and save. You’re still not going to get ahead,” she concluded.

Since early 2021, Vivian has poured her energy into building her brand as Your Rich BFF, using her platform to share tips and tricks for everyday people to amass personal wealth

Since early 2021, Vivian has poured her energy into building her brand as Your Rich BFF, using her platform to share tips and tricks for everyday people to amass personal wealth

Eric then pressed Vivian on ‘practical advice’ for people to ‘increase their earning power’.

One of her tips was to be ‘selfish’ when it comes to career moves.

‘Any job that requires you to either learn or earn, ideally both. And I think it’s about being really, really selfish,’ emphasizes Vivian.

At the time, she explained, employees were ‘incentivized’ to stay with the same company for most of their careers because they would be promised pensions upon retirement.

“Now, most of us have something called a 401k, which is just a pension, but it’s worse, in literally every way,” she continued. ‘Cause instead of your company contributing to it, you have to contribute to it.

‘And instead of your company choosing investments, you should choose investments.’

She also raised a Forbes study from 2014 which found that employees who do not change companies tend to be paid 50 percent less over their professional lifetime.

So, when it comes to being ‘selfish’, she emphasized that employees should be ‘up or out’ every two years.

“Every two years you have to get at least a 10 to 15 percent promotion…otherwise you have to leave.” You have to go somewhere that will pay you.

“Because if you don’t, you’re going to earn less.”

From that point on, she stressed: ‘Don’t be afraid to work.’

She emphasized elsewhere: 'I want people to have healthier budgets.  I want people to have more savings'

She emphasized elsewhere: ‘I want people to have healthier budgets. I want people to have more savings’

Another important point Vivian made was how to ‘avoid legal taxes’.

One way to do that is to open retirement and investment accounts, whether a 401k, or IRA, or Roth 401K, or Roth IRA — all “are a very easy way to legally avoid taxes,” she explained .

Money deposited into a 401k or an IRA is ‘tax-free’ this year, although it is taxed when withdrawn – while money put into a Roth 401k or Roth IRA is not taxed when withdrawn not.

Either way, “you’re just paying taxes one way or another,” urged the expert.

She also recommended claiming your mortgage interest as a tax write-off, while keeping an eye out for various tax credits, such as a $7,500 write-off you can claim for an electric vehicle.

“People have to remember that the tax code is written in a way that incentivizes you to do certain things. Our country wants us to be more green. It wants us to save for retirement and invest for retirement. Because guess what if you don’t, who has to take care of you? The government, they don’t want to do it. They want you to have your own money,’ said Vivian.

‘They want people to be homeowners, so you can have (part of your mortgage interest) written off.

“If you’re a small business owner, you can write off, and essentially get a tax break, on expenses because they want people to start businesses and write things off, like office space or travel or business meals.”

She concluded: ‘These are all ways to legally avoid tax. But it also allows you to do something Uncle Sam wants you to do.’

When it comes to treating yourself to actual luxury goods – rather than just small luxuries – Vivian actually recommends saving up where possible.

She has an article from New York Magazine’s The Cut which delved into how very rich women buy high-end, very realistic fake bags, rather than shelling out tens or even hundreds of thousands of dollars for the real thing.

“Women who are self-made, who make millions of dollars every year, who have supported themselves, who have built that nest egg on their own, they say, “Why do I need the real thing? I got it that way, people think it’s the real deal. And if I buy a really, really well-made fake, nobody knows the difference.”

‘So what’s the point? Why should I spend $25,000 on a bag when I can spend $1,000 on the bag, have the exact same results? And it almost felt like cheating the system to them.’

Vivian, whose business cleared $3.2 million last year, said that after all her expenses, including salaries for full-time employees and on-retainer support staff, she has enough left over to pay herself about $300,000.

The hustle and bustle, she stressed, was more than worth it.

‘My very first job was great. I helped make rich people and ultra-rich institutions that managed rich people’s money richer. Big, cool, awesome.

‘My second job, I helped big corporations get richer. They put ads on the website, they launched joint ventures, they did personal marketing,’ she said.

‘Now I help regular people get richer. And how wonderful is that?’

She emphasized elsewhere: ‘I want people to have healthier budgets. I want people to have more savings.

‘I want people to demand – not ask – demand increases. I want them to invest for their future.’