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| Debby Soo: The Female CEO Who Redefined Open Table |
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| “You look at my resume now, and it’s shiny and bright…but what you don’t see is behind each one of those bullet points, there’s a graveyard of failures.” |
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| Trying to snag a table at the hottest new restaurant? A few taps on OpenTable and you’re in – and you can thank CEO Debby Soo for that. |
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Soo recently joined the How She Does It Podcast to share her unconventional rise to the top, from navigating the chaos of the pandemic to rebuilding OpenTable into a faster, sharper, more competitive platform. Her story? Anything but typical.
One theme that stands out loud and clear is relentless hard work. Despite a Stanford degree, Soo says she’s never felt like the smartest person in the room, but she was always the hardest working. Think 4:30 a.m. study sessions in high school, juggling multiple jobs while earning her MBA and powering through rejection after rejection before landing in investment banking.
She’s honest about what it took to get where she is today. “I always say, you look at my resume now, and it’s shiny and bright,” says Soo. “But what you don’t see is behind each one of those bullet points, there’s a graveyard of failures.”
For more on Soo’s rise to CEO and the leadership mindset that got her there, listen here. |
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| Ask Jean |
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| Q: |
Today’s question comes from Amy. She writes: What are gap annuities? Who are they good for? |
| A: |
Gap annuities are exactly what they sound like. They’re designed to fill the gap between when you stop working and when another source of retirement income kicks in, like Social Security or a pension.
They’re short-term (usually 3-10 years) and, like other annuities, are typically funded via a lump sum payment (or several chunks over time) and provide guaranteed income during a set period. You could think of them as a paycheck replacement for retirees, or really anyone wanting to navigate a temporary pause in income.
Who are they good for? There are a few categories of people who might find gap annuities beneficial: |
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Early retirees who want to wait to start collecting Social Security in order to maximize their monthly benefit. |
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People who are waiting on a pension or another delayed income source. |
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Those who need income before their required minimum distributions (RMDs) begin at age 73 or 75, depending on your birth year. |
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Retirees without pensions who want to turn part of their retirement nest egg into a steady income stream – basically creating their own DIY pension. |
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Unlike lifetime annuities, gap annuities are time-limited, making them more flexible and often less expensive. As with all financial products, make sure you read the fine print – watch out for fees, surrender charges and whether or not the income keeps up with inflation.
If a gap annuity sounds like a good fit for you, you can compare some of the top-rated ones here. If you’re ready to move forward, just be sure to review all the details carefully, or tap the expertise of a trusted financial pro to help walk you through your options. |
| Submit your questions to Jean here. |
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| This Week In Your Wallet |
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Your coffee fix? It’s about to get pricier. As Yahoo Finance reports, surging global demand, wild weather and looming tariffs are sending coffee prices sky-high. In June, the cost of roasted coffee increased by 12.7% compared to the same period last year. A pound of ground coffee? Now averaging a dollar more than it was in January. “As a coffee lover, I wish $8.13 were likely a ceiling. I sincerely doubt it,” says Chris Barrett, an agricultural economist at Cornell University. “I don’t know what might be in store because that depends an enormous amount upon weather in key growing areas. But given the tariffs that seem likely to go into effect over the coming month or so, it’s unlikely prices are going to come down. They’re likely to go up, perhaps quite appreciably.” In other words, sip slowly.
Medical debt is staying put…on your credit report. A federal judge has struck down a Biden-era rule from the Consumer Financial Protection Bureau (CFPB) that would have barred credit reporting agencies from including certain medical debts on credit reports. As Fast Company reports, the rule would have removed “an estimated $49 billion in medical bills from credit reports and affect approximately 15 million Americans.” Those impacted could have seen a 20-point bump in their credit scores.
Remember when “moonlighting” meant waitressing or babysitting to make a few extra bucks? Those days are over. Now, you can make extra cash from your couch – in slippers and sweatpants, if you wish. “Side hustles offer people the opportunity to not only pursue something they are passionate about but also increase their income,” says Toni Frana, Career Expert Manager at FlexJobs. Some gigs are hotter than others, though. FlexJobs dug into its data to find the 10 most in-demand part-time remote jobs. Here’s what roles made the list – and where to find them. |
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| Things That Save You Money |
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| More For You To ♥ |
🩶 Divorce is going gray. If you’re on the verge of a split later in life, you’re not alone. Listen to the latest HerMoney Podcast, where the founder of Hello Divorce, Erin Levine, covers how to protect your finances, your future, and your peace of mind.
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