“Besides the fact that I get to work with the person I love doing what I love to do, right? There's the aspect of our daughters, seeing us work together as a unit and actually doing it successful,” Mike tells xoNecole in an exclusive interview
“So they get to grow up and experience what it is to be entrepreneurs from ground level, right? Because Mom and Dad did it, and they did it in such a way that I want to emulate, even if they don't decide to do exactly what we do, but they get to see it. That, to me, means a lot.”
But owning a business, whether separate or together, comes with a lot of responsibility and mistakes can often happen, especially for novice entrepreneurs. Egypt opens up about mistakes her and Mike experienced working in real estate.
“On our journey of entrepreneurship, we made a lot of mistakes. We spent money, we did things backwards, we learned the hard way through the school of hard knocks. There was no road map for us,” she says.
“So our goal by partnering with TurboTax is to really open the eyes of fellow entrepreneurs, to show them that, especially when it comes to your finances, your taxes, and getting that right, there is a faster, more cost effective, more accurate way of getting the support that you need.”
“On our journey of entrepreneurship, we made a lot of mistakes. We spent money, we did things backwards, we learned the hard way through the school of hard knocks. There was no road map for us."
Being tax compliant is among small business owners’ top concerns, but it's often time-consuming and research-intensive to figure out taxes on your own. TurboTax Business provides small business owners and solopreneurs access to unlimited live expert help to get your taxes prepared and filed.
When it comes to their marriage, the money conversation never goes away. The couple owns six businesses together, multiple properties, and are parents to three daughters. So when it comes down to finances, they believe in transparency, even dating back to their first date 21 years ago.
“Our first conversation about money was that, ‘hey, I don't have no money.’ Okay?,” Mike says. “Because there's been past relationships that are no longer existing. There's been things going on that I had to take care of and get through. So you're meeting a man that is pretty much starting from scratch again. How do you feel about it?”
At the time, Mike was newly divorced and had a small child. Egypt says she found his honesty “refreshing” and was looking for someone to build with, so his finances weren’t a problem for her. “If you're building anything, and that's like, first, second, third date, and you feel like, okay, this is someone I can be invested with, even beyond money, you have to just be honest about your circumstances,” Egypt shares.
“Our first conversation about money was that, ‘hey, I don't have no money.’ Okay?. Because there's been past relationships that are no longer existing. There's been things going on that I had to take care of and get through. So you're meeting a man that is pretty much starting from scratch again. How do you feel about it?”
“Otherwise you're building a house of cards that can fall at any minute, but I think money is one of the things. Finances are one of the things that even when people are in love, they still can't make it work and it breaks up marriages. It breaks up relationships because it's a stressor.
“So, yeah it is something that you want to ask about up front. What's your credit? How much do you earn? You don't have to be rich, but I just need to know if if the math is mathing.”
While they don’t believe you should have the money conversation on the first date, they do believe you should have it early to avoid any misunderstandings down the line.
To hear more about their story, check out their podcast, Marriage and Money and watch the new season of Married to Real Estate on HGTV.
Let’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
“So they get to grow up and experience what it is to be entrepreneurs from ground level, right? Because Mom and Dad did it, and they did it in such a way that I want to emulate, even if they don't decide to do exactly what we do, but they get to see it. That, to me, means a lot.”
But owning a business, whether separate or together, comes with a lot of responsibility and mistakes can often happen, especially for novice entrepreneurs. Egypt opens up about mistakes her and Mike experienced working in real estate.
“On our journey of entrepreneurship, we made a lot of mistakes. We spent money, we did things backwards, we learned the hard way through the school of hard knocks. There was no road map for us,” she says.
“So our goal by partnering with TurboTax is to really open the eyes of fellow entrepreneurs, to show them that, especially when it comes to your finances, your taxes, and getting that right, there is a faster, more cost effective, more accurate way of getting the support that you need.”
“On our journey of entrepreneurship, we made a lot of mistakes. We spent money, we did things backwards, we learned the hard way through the school of hard knocks. There was no road map for us."
Being tax compliant is among small business owners’ top concerns, but it's often time-consuming and research-intensive to figure out taxes on your own. TurboTax Business provides small business owners and solopreneurs access to unlimited live expert help to get your taxes prepared and filed.
When it comes to their marriage, the money conversation never goes away. The couple owns six businesses together, multiple properties, and are parents to three daughters. So when it comes down to finances, they believe in transparency, even dating back to their first date 21 years ago.
“Our first conversation about money was that, ‘hey, I don't have no money.’ Okay?,” Mike says. “Because there's been past relationships that are no longer existing. There's been things going on that I had to take care of and get through. So you're meeting a man that is pretty much starting from scratch again. How do you feel about it?”
At the time, Mike was newly divorced and had a small child. Egypt says she found his honesty “refreshing” and was looking for someone to build with, so his finances weren’t a problem for her. “If you're building anything, and that's like, first, second, third date, and you feel like, okay, this is someone I can be invested with, even beyond money, you have to just be honest about your circumstances,” Egypt shares.
“Our first conversation about money was that, ‘hey, I don't have no money.’ Okay?. Because there's been past relationships that are no longer existing. There's been things going on that I had to take care of and get through. So you're meeting a man that is pretty much starting from scratch again. How do you feel about it?”
“Otherwise you're building a house of cards that can fall at any minute, but I think money is one of the things. Finances are one of the things that even when people are in love, they still can't make it work and it breaks up marriages. It breaks up relationships because it's a stressor.
“So, yeah it is something that you want to ask about up front. What's your credit? How much do you earn? You don't have to be rich, but I just need to know if if the math is mathing.”
While they don’t believe you should have the money conversation on the first date, they do believe you should have it early to avoid any misunderstandings down the line.
To hear more about their story, check out their podcast, Marriage and Money and watch the new season of Married to Real Estate on HGTV.
Let’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
Feature image courtesy
Chlöe at 2024 GrammysPhoto by Kayla Oaddams/WireImage
