Daniel: That daily latte isn't what's keeping you broke. In fact, the advice to cut it out might be part of the problem. We’re told to shrink our lives to fit our budget. What if the real path to wealth is to expand your budget to fit your life? Sophia: I love that. That "latte shaming" advice always felt so condescending, like my entire financial future hinges on a four-dollar coffee. It completely ignores the bigger picture. Daniel: It absolutely does. And that provocative premise is at the heart of the book we’re diving into today: We Should All Be Millionaires by Rachel Rodgers. Sophia: And Rodgers isn't your typical finance guru, which is probably why this book became such a bestseller. She's a Black woman, a former intellectual property attorney who worked for figures like Hillary Clinton, and she built a multi-million dollar business, Hello Seven, from the ground up. She comes at this with a very different, almost activist lens. Daniel: Exactly. She’s not here to tell you to use coupons. She’s here to tell you to build an empire. And her argument starts by diagnosing a very specific problem that most financial advice ignores. Sophia: Which is what? Daniel: She argues that many women, especially women of color, are living in a 'financial prison.'

Sophia: A 'financial prison'? That sounds incredibly intense. What does she mean by that? Is it just about debt? Daniel: It's much deeper than debt. Rodgers says this prison has two main walls. The first wall is external: the Systemic Lies and barriers society puts in front of women. The second wall is internal: the Limiting Stories we tell ourselves. Sophia: Okay, let's break that down. What are the systemic lies? Daniel: This is where the data gets pretty staggering. Rodgers points out the obvious one: the gender pay gap. White women still make around 79 cents for every dollar a white man makes. For Black women, it’s 62 cents. For Latina women, it's even lower. Sophia: Wow. So right out of the gate, the earning potential is capped. Daniel: Capped. And it gets worse. She cites data showing women are 80 percent more likely to be impoverished in retirement. And for female entrepreneurs, the stats are just as grim. Only 2 percent of women-owned businesses ever reach the seven-figure mark, largely because they receive a tiny fraction of venture capital funding. Sophia: That’s infuriating. So when someone says, 'Just work harder and save more,' they're completely ignoring this massive, systemic headwind that's pushing women back. Daniel: Precisely. That's the first wall of the prison. But the second wall is the one we build ourselves, what she calls our "Broke Ass Thoughts." Sophia: I am both terrified and intrigued by that phrase. What's a "Broke Ass Thought"? Daniel: It’s that internal narrative of scarcity and self-doubt. Rodgers is very vulnerable about her own experiences here. She tells a story from her childhood, growing up in a lower-middle-class family that relied on public assistance. She remembers the deep shame she felt using food stamps at the grocery store, trying to hide them from her friends. Sophia: Oh, I can feel that. That feeling of 'not enough' gets burned into you at a young age. It becomes your default setting. Daniel: Exactly. That shame becomes a story you tell yourself: "I'm not the kind of person who has money," or "I'm bad with money." This is where the book has faced some criticism. Some readers feel the advice to just 'change your mindset' is a bit aspirational, especially if you're struggling to make ends meet. They question if you can really just 'think' your way out of poverty. Sophia: Yeah, I can see that. It can feel a bit like 'the power of positive thinking' for a systemic problem. How does Rodgers address that? Daniel: She argues that you can't take effective action until you rewrite that internal story. Your beliefs dictate your actions. And she uses the incredible, historical example of Madam C.J. Walker. Sophia: The first self-made female millionaire in America. Daniel: Yes. Born to former slaves in 1867, orphaned at seven, a washerwoman for years. She had every systemic barrier imaginable stacked against her. But she had a vision. She didn't see herself as a poor washerwoman; she saw herself as the head of a haircare empire. She said, "I got my start by giving myself a start." Rodgers' point is that the vision, the new story, had to come first. Before Madam Walker could build her factory, she had to build the belief that it was possible. Sophia: That’s a powerful reframe. The internal work isn't a replacement for fighting the system, but it's the fuel you need to even begin the fight. You have to believe you deserve to win. Daniel: That's the key. You have to believe you deserve to escape the prison. Which brings us to the next logical question. Sophia: Okay, so if you've identified the prison walls—the systemic barriers and the internal stories—what's the escape plan? How do you actually do it?

Daniel: The escape plan, according to Rodgers, starts with one small thing you do every single day: making a different kind of decision. She contrasts what she calls "Broke Ass Decisions" with "Million Dollar Decisions." Sophia: I'm sensing a theme with her branding. It's very direct. Daniel: Very. And she illustrates this with a brilliant parable. Imagine two women, both in their early forties in Chicago. Let's call them Broke Boo and Rich Boo. They have similar situations—two kids, co-parenting with an ex, decent jobs. Sophia: Okay, I'm with you. Broke Boo and Rich Boo. Daniel: Broke Boo makes $80,000 a year. Her boss offers her a promotion, but with no raise. She feels awkward pushing back, so she accepts it. Her boyfriend wants to get into real estate, so she spends her weekends helping him find and flip a property. His income goes up; hers stays the same. She's constantly exhausted, stressed about money, and feels like she's running on a hamster wheel. Sophia: Oh, I know Broke Boo. I think we all have a little Broke Boo in us. The people-pleasing, the putting everyone else's projects first... it's exhausting. Daniel: Now consider Rich Boo. She gets a job offer and negotiates her salary up from the initial offer to $120,000 plus commission. She wants to work out more but is short on time, so she hires a dog walker for a few hours a week. That frees up time for the gym, which gives her more energy. She uses that energy to build her side hustle as a life coach, charging top dollar. She's thriving. Sophia: That is such a powerful, almost brutal, comparison. The key difference isn't some lottery win. It's the small, daily choices. Rich Boo's decisions weren't about extravagant purchases; they were strategic choices that bought back her time and energy. Daniel: You've hit on the exact definition. A Million Dollar Decision is any choice that creates more time, energy, and options for you. A Broke Ass Decision is one that steals them. And this leads directly to the second part of the escape plan: Million Dollar Boundaries. Sophia: This is the one that I think is the hardest for people. Setting boundaries, especially with family or at work, can feel so confrontational. It feels selfish. Daniel: Rodgers anticipates that objection and flips it completely. She says boundaries aren't about saying 'no' to other people. They're about saying 'yes' to yourself. She gives the example of a woman named Kendra, who has a long commute and gets home late, yet is still expected to cook dinner every night while her partner, who gets home earlier, relaxes on the couch. Sophia: The classic 'second shift.' The data on that is wild. One study found that even when both partners work full-time, women are five times more likely to spend over twenty hours a week on chores. Daniel: Exactly. And Kendra tolerating this is a Broke Ass Decision enabled by a lack of boundaries. Rodgers says women are often complicit in their own oppression by not demanding a fair division of labor. She reframes the whole idea of selfishness with a very pointed question. Sophia: What's the question? Daniel: "Do you want to be a martyr, or do you want to be a millionaire?" Sophia: Oof. That cuts right to the bone. There’s no ambiguity there. Daniel: None. She argues that being a martyr—drained, resentful, and overworked—serves no one. It certainly doesn't help you build wealth. Setting a boundary to protect your time and energy isn't selfish; it's the essential act of self-preservation you need to have anything left to give to your career, your goals, and your own joy. That preserved energy is the capital you invest in becoming a millionaire.

Sophia: It feels like it's a two-front war, then. You have to be aware of the huge, external, systemic battles, but the fight you can actually win day-to-day is internal. It’s about auditing your own decisions and your own boundaries. Daniel: Exactly. And Rodgers’ ultimate point is that when women win this fight, it’s not just a personal victory. It’s a revolutionary act. She argues that putting more money in the hands of women is one of the fastest ways to improve the world. Sophia: Is there data to back that up? Daniel: There is. She cites research showing that women invest, on average, 90 percent of their income back into their families and communities. For men, that number is only around 35 percent. The implication is profound: more female millionaires means more investment in education, health, and community well-being. It's wealth-building as a form of social justice. Sophia: That completely changes the motivation. It’s not about buying a yacht; it’s about funding a revolution. I love that. So, for everyone listening, what's the first step? Daniel: I think the challenge the book leaves us with is to find just one recurring "Broke Ass Decision" in your life. Just one. Maybe it's always being the one to organize the family gathering, or never delegating a task at work that you hate, or saying yes to extra projects without asking for extra pay. Sophia: And once you've identified it, you ask the big question. Daniel: What would the 'Million Dollar' version of that decision look like? What choice would buy you back a little more time, a little more energy, or a few more options? It starts there. Sophia: A fascinating and deeply challenging book. We'd love to hear what 'Broke Ass Decision' you all identified. Join the conversation on our social channels and let us know. Daniel: This is Aibrary, signing off.