Lenet Rivas on Building Wealth
Older & Wilder
GGW Media
4.8 • 619 Ratings
🗓️ 21 May 2026
⏱️ 55 minutes
🧾️ Download transcript
Summary
Blue Otter Financial Planning:
Joy and Claire welcome back Lenet Rivas to discuss her new business, Blue Otter Financial Planning, launched after a layoff and inspired by conversations at a Surf with Amigas retreat. Lenet shares her background in financial aid at Emory, then Fidelity and investment management, and explains leaving product- and target-driven models to offer flat-fee planning for people—especially women—who don’t meet typical $500K asset minimums. They discuss consolidating scattered old employer 401(k)s into an IRA, aligning investments with risk tolerance and time horizon, and how target-date funds often default people into mismatched allocations; Joy describes gaining confidence, discovering a pension, and improving results after adjusting investments. The episode also covers money shame, patriarchy in finance, spending vs. saving mindset, and practical questions to ask parents about estate plans, accounts, and wills.
00:00 Meet Lenet and Blue Otter
01:19 From Taxes to Entrepreneurship
04:15 The Retreat Seed and Layoff Leap
06:51 Traveling While Building the Plan
09:40 Who Blue Otter Serves
13:33 Joy’s Account Consolidation Win
15:28 Money Fear and the KFC Analogy
22:01 Fixing Default 401k Investments
27:05 Target Date Funds vs ETFs
28:22 Confidence to Manage Your 401k
29:13 Fix Your 401k Mix
29:42 Shame And Money Talk
31:28 Beating The Patriarchy
33:20 From Saving To Spending
36:16 Facing The Real Numbers
40:37 Family Money Planning
42:26 Questions For Parents
47:39 How To Work Together
49:50 Why Blue Otter
52:18 Coffee Cart Dreams
53:58 Where To Find Lenet
54:22 Final Wrap And Goodbye
Transcript
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| 0:00.0 | Hey everybody, welcome back to Older and Wilder with Joy and Claire. |
| 0:19.5 | Hello, hello, and Lynette. |
| 0:24.7 | Hi. And Lynette is back. We've had Ledette on before, |
| 0:30.8 | Lynette Revis. You now have your own biz. And we're going to talk about it. We're going to talk about it. |
| 0:38.7 | It's Blue Otter Financial Planning, which I freaking love the name. And also the cutest little logo of an otter face. |
| 0:40.0 | Oh my gosh, I haven't seen it. |
| 0:40.6 | Wait, wait. I'm following all your accounts on. I'm following on Instagram. Geez, don't come on. I'm like, get on the website. Oh, I'm not on the website. That's the problem. I'm Googling. It's adorable. So I'm like, this is a great marketing idea because if you're just like cruising |
| 0:55.8 | around, financial planning is to me, I'll speak for myself. Scary. But if you see a cute little |
| 1:01.8 | otter face staring back at you, you're like, this is not scary. This guy is going to help you. |
| 1:06.9 | He's just here to be your friend and like maybe open up a clam for you. |
| 1:12.0 | He's yeah, with his rock. Yeah. |
| 1:12.6 | Yeah. |
| 1:13.7 | Exactly. |
| 1:14.7 | His favorite rock. |
| 1:17.4 | Okay. |
| 1:18.1 | Lynette, we'll go back. |
| 1:19.6 | Lynette, we had you on a couple years ago and you gave us some amazing advice and |
| 1:23.8 | information about our taxes. |
| 1:25.2 | You have demystified taxes for, I don't know, I imagine |
| 1:29.9 | millions of people out there. And you went through a layoff, decided it was time to bring |
| 1:37.0 | your knowledge in-house and start your own thing. Give us a little bit of the background of the |
| 1:40.9 | past eight months for you. Claire makes an appearance in the story. So if you remember |
... |
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