Ep. 56 - Linda Dupre Hull, age 67, provides powerful insights in her podcast into a childhood where at age 12 she became a partner with her father in developing the family budget and managing the family finances out of the necessity of ensuring the family could survive off of his earnings. She shares the backdrop of being a life-long resident of New Orleans; a city defined by its history of segregation and poverty, and coming to understand very early on the absolute necessity for adopting a personal budget, managing your finances and growing your personal wealth by purchasing a home as early as you can in life and vacating the role of a renter. She shares her advice for baby boomers trying to decide whether to take their social security benefits at age 62 or "wait" for full retirement. This is an interview every woman (and person) can learn from!
Top Takeaways:
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- The importance of instilling education in children to ensure they excel in life
- The benefits of involving children in the family's financial situations so they grow up understanding the limits
- The importance of making your staff look good and not missing deliveries as a leader
- Understanding when is the best time to take your social security as a baby boomer after 62 years of age
- How to budget and leave some money for yourself as a woman
Listen in to understand the importance of teaching your children the financial situation at home to ensure they know the limits and grow up understanding math.
"I'm an advocate of the whole family being involved. As I counsel people even today, one of the things I say, you need to let them know what the limitations are. Children do understand and they will stop asking for things." -Linda Dupre Hull
Best Black Female Podcast for Family Advice
Linda Dupre Hull, earned her degree in accounting at LSU New Orleans during the earliest years of desegregation, finding she was the only black student in her math and accounting classes.
Upon graduation, she successfully tested very high with the Louisiana State Civil Service Commission. This earned her a position in the accounting and finance department of the Housing Authority of New Orleans (HANO), the nation's 5th largest public housing agency serving over 19K families with an annual operating and modernization budget exceeding $100M in the mid to late 1980s.
She began her 25+ year public career as an accountant with stellar performances that fueled her advancement over the years to Chief Financial Officer (CFO) and ultimately retiring after serving in other executive roles to include Chief Compliance Officer and the Chief Executive Officer (CEO).
You will also learn the value of volunteering and taking it as seriously as you take your job.
Key Moments:
Linda narrates how her father introduced finances to her at a young age and pushed her and her siblings to excel in life [2:35]
She explains why she chose accounting to avoid other subjects that didn't involve numbers [6:30]
The difference between the Southern University at New Orleans and Louisiana State University back in the 1960s [8:02]
How Linda overcame racial intimidation considering she was mostly the only black girl in her class [10:27]
She talks about how she started as an accounting clerk to a chief financial officer managing multimillion-dollar budgets in a large housing authority [12:46]
Transform into a doer and a problem solver for others when you're in a top financial position [17:17]
How she helped young African American men from being lost in math to excelling in their accounting degrees [19:09]
Linda explains how she takes volunteering as a job and some of the ways she has been volunteering since her retirement [21:33]
Why it depends on your income and health for you to take your social security after you get to 62 years [25:18]
Some advice on why you should keep making payments to your creditors to keep the possibility of negotiating alive [31:26]
Linda advises young women to invest in real estate and to have financial direction [34:05]
Resources:
Housing Authority of New Orleans
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