Alexis Glick
Alexis Glick
Alexis Glick is Vice President of Business News and an anchor of Money for Breakfast.
Prior to joining FOX, Glick served as a correspondent for the Today Show and co-anchored the third hour of that program. Before her stint at NBC News, she was the senior trading correspondent for CNBC and reported from the floor of the New York Stock Exchange, providing live daily updates for Squawk Box. While at CNBC, Glick also contributed to Street Signs and Closing Bell.
Earlier in her career, Glick was an Executive Director at Morgan Stanley where she headed the New York Stock Exchange Floor Operations. A member of the New York Stock Exchange since 2002, she was the first and youngest woman to manage such an operation for a bulge bracket firm, and served as one of its top producers on the Listed Equity Trading Desk. She began her career as an analyst at Goldman Sachs in the equities division.
Glick is a graduate of Columbia University, where she now serves as a member of the Board of Directors of the College Alumni Association.
What was your first job?
My first job out of college was at Goldman. I was hired into the two-year analyst program, but I guess you could say I was a guinea pig. I was one of the first non-MBA's hired onto the Equity Sales Trading desk. What does that mean? We talked to the portfolio and hedge fund managers who were responsible for purchasing large blocks of stocks in the marketplace. It was about as big pressure cooker as you could imagine. As Wall Street insiders could attest..."No great idea is successful if you can't execute it in the marketplace." That was my job and that happened to involve trading hundreds of millions of dollars daily.
Are you a spender or a saver?
I'm a spender, but I'm smart about my money, too. I wish I could say that I was a better saver but I think I choose to live in the moment. As my dad says, "You never know when it will be your last." Most of my money is invested up in real estate. I bought my first home at 24 years old and several homes later, it's proven to be my best investment. (Other than my husband and my three boys.)
What was the one thing you regret buying?
No regrets! Every choice good or bad teaches you something about yourself. Mistakes are worth taking. Life without risk is not an option for me. Follow your passion, do what you think is right and trust your gut. Dream with your eyes open!
What was your biggest money indulgence?
My honeymoon in South Africa. It may have been more expensive than the wedding itself but boy was it worth it! I can't wait to go back.
What was the best money advice you received?
When buying real estate, never look at what's inside the four walls. Buy first and foremost for location, location, location. See potential. Don't be afraid to knock it down and rebuild. Know what it could be with the right direction. Two tear downs and four homes later, I still believe this is where you can get the greatest return on investment.
FOX Translator
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Sure, we know some of you are saying the term "marriage penalty" is redundant. In fact, of all the costs associated with getting married (have you seen the cost of a wedding cake lately?), the marriage penalty can be the worst.
Here's how it works: Mr. and Mrs. Right walk down the aisle in wedded bliss and suddenly they¿re a two-income household. If both make roughly the same amount of money, they can be pushed into a higher tax bracket. That's bad, since the higher the bracket, the higher the tax. So, if both were single, they'd end up writing two smaller checks to the tax man that, if combined, would add up to less than the giant check they write in a state of wedded bliss.
Is that fair? We're not touching that, but there is a flip side that few people talk about. The marriage penalty only kicks in if both members of the couple make close to the same amount of money. If there's a big disparity in pay, there's actually a tax advantage. Call it the marriage bonus.
And, it¿s important to remember that there are other financial benefits, such as lower life-insurance rates or health care premiums, that can make up for the extra tax couples pay. So don't let Uncle Sam stop you from saying, "I do."
