Gail Simmons on Setting Boundaries with Your Money and Time

Sept. 20, 2019 8:00 am ET

When you’re financially successful, friends and family may ask you to lend them money or invest in their businesses. It’s a tricky situation, says Gail Simmons, a cookbook author and a judge on the long-running cooking contest show “Top Chef.” Ms. Simmons, who is also special projects director at Food & Wine magazine, says she generally doesn’t invest in people she knows really well.

“I prefer not to mix those things together unless the opportunity is something I really strongly believe in,” she says in this Secrets of Wealthy Women podcast with Veronica Dagher.

Ms. Simmons has also learned to set boundaries with her time. Her agent taught her that it’s often wise to say “no” to opportunities more often than it is to say “yes.” She also learned to stop apologizing for asking to be paid fairly. In addition, Ms. Simmons speaks about the importance of asking your financial adviser questions and what motivates her to save in a health savings account. In our hit podcast series, successful women from all walks of life share their financial and career tips to help empower women and improve their financial savvy. Subscribe now so you don’t miss coming episodes with entrepreneurs Wendy Nguyen and Miko Branch. Be sure to download our ebook based on the podcast, Resilience: How 20 Ambitious Women Used Obstacles to Fuel Their Success. How to Listen and Get New Episodes Secrets of Wealthy Women is available on a number of popular audio apps. If you’re using an iPhone or iPad, tap here to open the series in the preloaded Podcasts app. From that page, select “subscribe” to get the latest episodes on your device automatically. If you’re using an Android device, tap here to open the series in the preloaded Google Play Music app. From that page, select “subscribe” to get the latest episodes on your device automatically. You can listen to Secrets of Wealthy Women on iHeartRadio and Spotify. If you prefer to listen directly from, visit the Secrets of Wealthy Women podcast page to play from your web browser. If you’re multitasking, you’ll need to keep the browser window or tab open. Check out our past episodes with Ayesha Curry, Kelley Brooke, Gloria Feldt, Sarah LaFleur,  Lesley Jane Seymour,  Lori Sokol,  Meredith Vieira and Maysoon Zayid.

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