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Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Mujahid Muhammad.
Interview Summary
Interview with Rushion McDonald – Money Making Conversations Masterclass
Interview Purpose
The purpose of this interview is to demystify personal finance, redefine wealth‑building, and emphasize the importance of preparation, capitalization, and disciplined planning. Mujahid Muhammad, a personal financial coach and founder of Wealth Coaching Stratosphere, shares a deeply personal journey marked by financial success, failure, rebuilding, and hard‑earned wisdom.
Major Themes & Key Takeaways 1. Experience Is the Best Teacher
Mujahid’s financial philosophy is rooted in lived experience. After building a seven‑figure real estate portfolio early in life, he suffered devastating losses due to Hurricane Katrina and the 2008 housing collapse. These setbacks reshaped his understanding of leverage, risk, and preparation.
Key takeaway: Financial success without safeguards can collapse quickly.
2. Leverage Without Liquidity Is Dangerous
One of the most powerful lessons Mujahid shares is that being “asset‑rich but cash‑poor” is a vulnerable position. His earlier strategy relied heavily on leverage without sufficient reserves, leaving him exposed when disaster struck.
Key takeaway: Liquidity is protection; leverage alone is not wealth.
3. Fix Personal Finance Before Building Businesses
Mujahid stresses that many people pursue entrepreneurship or real estate in hopes of fixing personal financial struggles—often with disastrous results. Instead, personal financial stability must come first.
Key takeaway: Solve your personal finances before using business to create wealth.
4. Wealth Is a Process, Not a Product
The interview reinforces that financial improvement isn’t something you buy—it’s something you build over time. Mujahid emphasizes facing financial reality honestly instead of avoiding uncomfortable truths.
Key takeaway: Progress starts by looking at the numbers, not ignoring them.
5. The Five Financial Stratospheres
Mujahid introduces his Wealth Coaching Stratosphere model, outlining five levels of financial development:
- Financial Failure
- Financial Health
- Financial Fluency
- Financial Wealth
- Financial Independence
Each stage represents a mindset and requires different behaviors and priorities.
Key takeaway: Knowing your financial “stratosphere” determines your next move.
6. Capitalization Comes Before Real Estate
Mujahid advises against entering real estate before reaching financial fluency. While creative financing exists, retaining real estate requires cash flow, reserves, and patience.
Key takeaway: You can buy property with little money—but you cannot keep it that way.
7. The Importance of Capital and Opportunity Funds
He emphasizes saving, emergency funds, and opportunity funds as prerequisites to investing. Capital allows individuals to recognize and act on opportunities without panic.
Key takeaway: Capital creates clarity—and choices.
8. Infinite Banking and Financial Autonomy
Mujahid explains the Infinite Banking Concept, which focuses on reclaiming control over the banking function through properly structured life insurance, allowing individuals to access capital without relying on traditional lenders.
Key takeaway: Fin
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Episode Transcript
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Speaker 1 (00:00):
Welcome to my show.
Speaker 2 (00:01):
I'm Rashon McDonald, a host of Money Making Conversations Masterclass,
where we encourage people to stop reading other people's success
stories and start planning your own. Now, you don't want
to miss an episode, so please take a moment right
now to follow or subscribe to Money Making Conversations Masterclass.
Speaker 1 (00:16):
It's free.
Speaker 2 (00:17):
You can follow me on iHeartRadio, app, Spotify, Apple Podcasts,
or wherever you listen to your podcast. New Money Making
Conversations Masterclass episodes drop daily. I want to keep you
on alert because my guests provide tips on how you
can uplift your community, improve your financial planning, motivation, or
advice on how to be a successful entrepreneur. Now, let's
(00:38):
get this podcast started. My guess is a personal financial
coach a wealth coaching Stratosphere. They provide expert financial coaching.
They have you take control of your money and build
a strong foundation for your future. Whether you need to
break free from debt, create a financial game plan, develop
better money habits, we are here to support you. That's
(00:59):
their model. Please work in the Money Making Conversations Masterclass.
Brother majah Hid Mohammad, how you doing, Brother Majaiat.
Speaker 1 (01:07):
I'm doing great by God's grace, and I'm happy to
be here with you. Brother Rashon.
Speaker 2 (01:11):
Okay, now you're basiced in Houston, Texas, and I'm born
and raised in Houston, Texas. So when I saw your
information come through my guests be Against portal, I jumped
on it immediately. Tell me what you're doing down in Houston, Texas.
Speaker 1 (01:21):
Brother, JAHI, Well, we are committed to assisting people in
the personal financial space. My expertise is both the real estate,
personal finance, and insurance as well. So we're helping young
families or people in general, you know, to get off
to a fast start and not duplicate those mistakes that
were originated by myself coming up and trying to develop
(01:42):
my personal financial portfolio. Well, I always say you learn
from your mistakes.
Speaker 2 (01:48):
You put it out there first, brother, But jah Hid,
what was some of the mistakes you made that you
don't want us to make?
Speaker 1 (01:54):
Give us a couple levels. Well, let me start from
the beginning. I think as I grew up, the story
was told to me. My dad went to the military
and he was sending home checks to help take care
of the family. At that time, you know, they were
extremely poor. So it was a necessity, and he's sending
checks every month, every pay period. When he got out
of the military, unbeknownst to him, my grandmother, his mother,
(02:18):
never cashed any of those checks, so she gave the
money back to him, and he used that to buy
his first duplex, and that laid the foundation for his
financial future. In mimicking fashion, I joined the military, but
I didn't need to send checks. We were in a
different time. Although I'm sure he would have taken my checks,
but I was saving the money. And when I came
(02:40):
home from the military, my father helped me find my
first duplex, and it was from that duplex that was
the launching pad. I got married. A few years later.
I identified this thing called equity. I pulled out over
twenty thousand dollars in equity and I immediately start They
call it a Bird technique. Back then, there was no bird,
(03:02):
there was no YouTube and everything like that. But we
essentially I was buying real estate, renovating it, renting it out,
buying it, refinancing it, renting it out, that whole bird method.
So we did that UNTI I mastered a million dollar portfolio.
I thought I had enough to leave my W two job.
I left the W two job three months later. Hurricane
(03:25):
Katrina hit the New Orleans area and at that time
none of my portfolio year was that. What year was that?
Speaker 2 (03:35):
Just remind everybody that the year hurricane in two thousand
and five.
Speaker 1 (03:39):
Yes, sir, at that time, I wasn't covered it just
it wasn't required and a devastation like that never happened before,
so there was no flood insurance. So we literally had
these decimated properties with no money to repair it. And
I remember being on a phone with a one of
the I was in the middle of a renovation at
(04:00):
that time, and the lender was chiding me. He was like, look,
I need you to get back on it and rebuild
this property and rent it out. I'm like, I don't
think you understand. It's not my property. There's no there's
no houses for blocks and blocks. The whole community was gone.
So that level of devastation was really unfathomable to all
parties involved. So after suffering that, went to Houston to
(04:24):
try to regroup, and I said I'm gonna come back
and recommit to building my portfolio. And then in two
thousand and eight and behold, we know what happened with
the real estate market, and that was kind of like
the nail that kind of sealed the coffin. So from
there I kind of hit myself over the head with
that invisible ham. I was blaming myself, thinking I wasn't
(04:45):
what I thought I was, and for several years I
just went on and thought I was a failure as
it relates in the financial space. But there was a
net unique circumstance that turned things around. You know. I
got a phone call from my wife. We had one
car at the time. I was at work, and she said,
she said, bete, they turned off the water. So I
moved some things around. I said, look, go pay this
(05:07):
water bill. So she literally walked to the utility company
to pay that water bill before the children could come
back home and realize what had happened. And I remember
looking my wife in the face and I said, back,
this next chapter of our life, I promise you We're
gonna have a lot of problems, but it won't be
a financial one. And so I committed myself to turning
(05:30):
our situation around. And that was the impetus to where
I knew I needed to do something different. And that's
really really the motivator for helping other families to not
experience that experience that I felt in that moment. What
year was that, brother Mujahad? So yeah, two thousand and
eight was from the collaption of the home mortgage that
(05:53):
was collapsing of the house Katrina. Two thousand and eight,
collapse of the home mortgages. Yeah, and then you had
a at least at least seven years that I was
just doing ins and out odd things. I drove, Yeah,
I drove this. So yeah, so what's seven on top
of two thousand and eight? Twenty fifteen? Okay, So yeah,
(06:14):
we're in that area at this point. Okay, cool, So
now the next ten years you got a plan in place?
Absolutely okay? And what was that plan? And why did
you feel the need to do because you know you
already messed up in New Orleans?
Speaker 2 (06:29):
Did that properties got washed away by mother nature Hurricane Katrina?
Speaker 1 (06:34):
Why would you go back into real.
Speaker 2 (06:36):
Estate after that level of devastation, brother, majority Well, here's.
Speaker 1 (06:40):
What I learned, and I think a lot of times,
what we do in our community, we tried to lead
with business, looking for business to solve our personal financial situation.
And the light bulb that came up with me is
that if you saw your personal financial situation, you can
grow organically and come to the market in a different way.
(07:03):
So I prefer to come to the market as a
well capitalized investor as opposed to an undercapitalized investor. And
when you prioritize your personal finance, accualage and grow according
to stage by stage, you'll eventually reach a point to
where you can come to the market and be more productive.
Because the big, biggest lesson I learned was that leverage
(07:26):
without liquidity is stupidity. And so at that time I
was real estate rich but cash poor, and so I
coming around a second time, I overemphasizing controlling my personal
financial situation so that I can approach the market from
a totally different perspective.
Speaker 2 (07:41):
So basically maintaining control with a plan absolutely so most
people get out there. And I will tell you when
I heard my first business, I just had a dream.
Speaker 1 (07:52):
I didn't have a plan.
Speaker 2 (07:53):
I didn't know the severity of what taxes were. I
didn't know understanding my employee is a workman's insurances that
need to be applied working with conversation, liability, all.
Speaker 1 (08:07):
E and O.
Speaker 2 (08:08):
If you're into advertisement all those things on top on
top to.
Speaker 1 (08:13):
Stay in business. Legitimately, that's what you learned in New Orleans.
That's right, you were in.
Speaker 2 (08:18):
Business, but you were not in business because it got
taken away because you didn't have all the necessary safeguards
in place. Now we're twenty fifteen. You contact me, said,
y Sean, I want to tell everybody about me. I'm
a personal finance coach. My business is wealth coaching stratus fear.
What is wealth coaching stratus fere?
Speaker 1 (08:39):
So the term stratusphere is pretty much a metaphor. And
what we've done is we've identified five areas of financial
development in each the lowest being financial failure that's when
you have more money than month, right, the least desirable
stratus fere you want to be in. But the next
(09:00):
financial health, that's where most of us find ourselves paycheck
to paycheck, we're able to meet those obligations. And then
the next stratosphere is financial fluency. That's where things get
better where you have more money than month, and then
you graduate to financial wealth. And the difference between wealth
and fluency is the accumulation of income producing assets, until
(09:22):
finally you grow into financial independence, where your money is
making money. So with each one of those stratospheres is
a diameter of thought. That's determine how many stradu three
or four? It should be five, it's five strata tray
repeat them again. Financial failure, financial health, financial fluency, financial wealth,
(09:43):
and financial independence. There you go, yes, sir as I
missed that count.
Speaker 2 (09:48):
Yeah, and so it started financial failure because that's where
a lot of people are.
Speaker 1 (09:52):
I've been there. You know.
Speaker 2 (09:53):
The reality that's why a lot of people get to
the next step is homeless. You know, pride comes into play.
You don't have a plan to get out of that spiral.
Why through the average person live in that financial failure
status or find themselves descending into that financial failure status.
Speaker 1 (10:15):
I think some of the major contributors is self esteem, certainly,
But then some of the more practical things or problems
is that we take advice from other poor people. And
that's the biggest mistake you can make in financial failure.
A lot of times people that have jobs at I
don't want to name one of the low income places
just to be derogatory, but they got those jobs from
(10:38):
friends that got them in there. And so when you're
not where you are. You have to do what you
haven't been doing, and so taking advice for people that
are in different stratus fees of different spaces is the
biggest way you can gain that quantum leap into your
next stratus. Feld let mens you this.
Speaker 2 (10:56):
Let's talk about personal financial philosophy. Your personal financial philosophy.
He gave us the five points. But I'm just a
guy walking into your office. Brother, But y'all hate and
I don't know. Man, I'm frustrated. I want to I
see people out there making money, but I'm not making
the money. I'm just an average guy working a forty
(11:16):
hour week job.
Speaker 1 (11:17):
Can you help me? Yes, emphatically. Yes. The first step
is understanding that it's a process and not a product.
You can't come to anyone to buy something to ameliorate
your situation. It's a process and you got to be
committed to the process. And for a lot of people,
it begins by just looking at your situation. You'd be
(11:37):
surprised the people that just refuse to look at where
they stand. So you have to look at it and
receive some information that's objective to point you in the
right direction. And once you take a look, nine times
out of ten. It's not as bad as you think
it is with the pizzo.
Speaker 2 (11:57):
What's side of the table you're sitting there, brother, Okay,
because I'm telling you I've had a headache on outside
of the table because it looked pretty bad.
Speaker 1 (12:05):
But I think that what you're saying is don't allow
the moment to overwhelm you. Emphatically, I was saying, take
that deep breath. Absolutely, And also.
Speaker 2 (12:17):
I think a key for me is looking around and
surrounding and see who's there to not so much give
you money, but that can support you, that you can
talk to, because a lot of people fall victim to
a lot of their calamity because they don't have anybody
to talk to because they, like you said Alreadier, a shame.
(12:37):
I feel that they don't want to look bad. They
don't want to feel that, hey, I'm a failure. Especially
the families, especially the friends, especially coworkers. Now when you're
talking about your financial philosophy, I'm a person.
Speaker 1 (12:54):
I'm doing all right. I want to get into real estate.
You know already told me your real estate story two
thousand and five. Contrina, send your packet, set your pack it.
How do I get in to real estate? My suggestion
as far as real estate is to it should be
it should be pre approached with the capitalization phase, and
(13:16):
you should not approach that unless you're in you you
pass financial fluency. So what what happens is a lot
of times, you know, there's a lot of things out
here no money down. And these are true philosophies. You
can acquiesce real estate with creative financing with no money down.
But what the story that's not told is you can't
keep real estate with no money down. Real estate is
(13:39):
a heavy, financial intensive business and there's a uh, there's
a what you call it a factor. It allows it
acquires a lot of involvement. So the best thing you
can do is go through that capitalization phase, which we
know you beyond that, but I'm talking to the average person.
(14:00):
You need to spend time. What does that mean? Capitalization
that's just saving money. A lot of people frown on
saving money. But you can't approach an opportunity without an
opportunity fund. So you want to come to the market
well capitalized. That's my advice before you thinking about real estate, first,
focus on capitalizing your personal situation and it makes a
(14:22):
big difference when you come to the market well capitalized.
The first thing is you see opportunities that other people
don't see. And a lot of times when you have money,
things that you thought that you wanted when you were broke,
you don't want it anymore, you know. And lastly, I
say this, what does well capitalize look like? That's a
(14:44):
very subjective language, but we do know that. Warren Buffet's
right hand man, Charles Munger, he said, you got to
get your first hundred thousand. Do whatever you do to
do that. Please don't go anywhere. We'll be right back
with more money Making Conversations. This is masterclass.
Speaker 2 (15:01):
No need for you to do me a favor right
now to follow or subscribe to money Making Conversation. It's
free and you can find it on the iHeartRadio app, Spotify,
Apple Podcasts, or wherever you get your podcasts. Please do
me that favor, follow a subscribe money Making Conversations. Welcome
(15:23):
back to Money Making Conversations Masterclass hosted by me Rashaan McDonald.
Money Making Conversation master Class continues online at Moneymaking Conversations
dot com and follow money Making Conversations Masterclass on Facebook,
X and Instagram. You have to plan to be successful
you have to plan. And so many people this will
(15:44):
always get to me. People want to get into real estate, right, brother,
And so they sit up there and they go buy land,
but they have no way of saying they forget the
one key thing about buying land taxes. They gonna come
get those taxes. So if you bought land, that's what
you was talking about having capitalization, that's what you're talking about,
(16:04):
having money. Because if you are not in a position
to make money off that land or that house that
you just bought, and you're not remodeling, you not trying
to flip it, the taxman's going to come and he's
going to come and want his money. And if he
doesn't get his money, he's going to find you and
find you. Eventually he's going to take back something that
(16:26):
you invested in. And that's a key element that a
lot of people don't think about when they buy land.
Speaker 1 (16:32):
Land is key.
Speaker 2 (16:32):
If you buy land and there's nothing happening on that land,
that could become a liability very very quickly.
Speaker 1 (16:39):
Correct, brother, absolutely, And I want to really speak to
the one hundred thousand dollars because it may overwhelm someone
that's in another stratosphere and The point is that this
is a process, not a product. I'm speaking in a
certain stratosphere when I see one hundred thousand, and you
have to respect the process. So if you're in a
financial health stratosphere, you don't need to be thinking about
real estate. You got to be a thousand are before
(17:01):
you can be a ten thousand air before you can
be one hundred thousand are. So respect the process, know
where you are, and grow organically. It was I think
Abraham Lincoln is credited as saying, if he has six
hours to chop down a tree, he will spend four
of them sharpening his axe. So don't underscore preparation. It's
not that nothing is happening. Something is happening. You're developing
(17:24):
so that when you approach the market, you approach it
from a position of strip. I love you man, you
got it.
Speaker 2 (17:28):
You got those catchphrases down path, man, I love talking
to you.
Speaker 1 (17:32):
Man.
Speaker 2 (17:34):
What is the benefits of financial coaching that you provide?
What are the benefits?
Speaker 1 (17:38):
So it's being able to talk to someone kneecapped. To
kneecap is being able to hear from someone objectively, someone
to be able to feel what you feel. That's been
where you've been at. Like I said, most time we
take advice from people that are on our same level.
We need to hear from someone objectively on our next steps. Now,
financial coaching is a very serious step. So if you're
(18:00):
not seriouh, you might want to read a book, you
might want to watch the YouTube page. But when you
talk talking about financial coaching, you're talking about you're really
committed to going to that next level.
Speaker 2 (18:10):
It's important that people understand. I'm talking to brother majah
Hid Muhammad. He's a personal financial coach located in Katie
right outside of Houston, Texas, and the name of the
company is Wealth Coaching Stratosphere. When we're talking about three
ways our clients can work with us, that means us
being you. How can a client come to you in
(18:32):
those three ways you benefit.
Speaker 1 (18:33):
Them absolutely, So I would say you can eat. If
you just have a one off question or concern, just
shoo me an email. And if you don't mind hearing
an opinion, I can't give you investment advice. You want
to seek those professionals out, but I would love to
hear from you where you are and share ideas with you.
So that's one way to just an email. If you
(18:55):
lead a financial group or you promote financial literacy and
you want us to come on and have some concepts
and help develop that group. We talked to married circles
where there's there's singles and you talk about money and
marriage and different things like that. Or if you want
direct financial coaching, visit us at Wellcoaching statusphy dot com.
(19:17):
Set up a free consultation and we'll we'll put you
in the right direction. I love the word free here
that ladies and gentlemen, he will give you.
Speaker 2 (19:26):
Like I said, man's not gonna give away his business career,
but he's willing to consult you, lay down a game plan,
find out if you guys can work together, then they
put a plan in place and you both can win.
But again, he's being honest. A lot of people who
charge the word consultant got to pay him a fee,
whether it's nine ninety nine or fifty nine ninety five.
(19:46):
He's not saying that. He's saying that basically, come to him,
contact him. He'll lay down the whole process in a
complimentary fashion. Find out if y'all can develop a work
a relationship. You get to work a relationship on the
point then you win together. Now, let's talk about the
personal financial condition of middle and common America, because that's
where every politician who runs for office talks about middle
(20:10):
income And then we got.
Speaker 1 (20:12):
Tariffs sitting out there, brother Muhammad Man. So the good
news is that the economy doesn't have to be your economy.
And that's why we teach personal finance. And here's the
outlook of the average American that after take home pay,
twenty percent is committed to transportation, another thirty percent to housing,
(20:37):
and then another forty percent is committed to living expenses,
which leaves ten percent which we're trying to invest in
mutual funds, real estate and what we do. But if
we would just give focus to that ninety percent that
is encumbered through financing, we need to get the banks
out of our lives. They are over help us, overcome admitted,
(21:00):
and underfunded. But if you work to free up that cash,
now you create a tail wind that can really cause
you to change your financial reality. So I know we're
taught to have the credit cards. I know we're taught
to get the real estate forty five percent because of doubt,
it looks so good and all these the cards and
all these things, but we just need to get those
(21:23):
banks out of our lives, free up that cash flow.
Because look, if you have a six figure income, your
problem is you. And I hate to sound so blunt
like that. It's about living within your means and being
a partner with your partner and coordinating your personal financial
reality and you can really change your situation. Wow, now
(21:44):
we were talking about banks.
Speaker 2 (21:46):
Now on your card, you sent me about infinite banking concept.
I've never heard that. What is that infinite banking concept?
Speaker 1 (21:56):
Help me out there, brother Mahama. A gentleman named Nelson
Nash he identified a concept that he dubbed the infinite
banking concept, And through the infinite banking concept, we're taught
how to gain control of the banking function in our lives.
That's something we really don't think about. But when we
(22:18):
want to buy a home, when we want to buy
a car, when we want an education, we have to
go to third party gatekeepers that will determine if we
can have that. In building your own banking you learn
how to use a life insurance policy for its living
benefits to accumulate capital that can in turn allow you
(22:41):
to access for business opportunities. So I was my barber.
We were in a barbershop. He decided to leave and
he sorted his own barbershop. So we were just getting
the standard cut and he said, hey.
Speaker 2 (22:55):
You need a chair in another barbershop.
Speaker 1 (22:58):
Yeah. So yeah, my barber in a barbershop and he
decided to go do his own thing. So yet so yeah,
So I'm at his chair in the barbershop and we're talking.
He said, hey, you know, the barbershop we left is
up for sale, and so I said, oh, that's interesting.
Why the manager of the barbershop, while he didn't buy it,
he said, he don't have that type of money. I said,
you don't want to buy it. He said, if I
(23:19):
had the money, I would buy it. So then light bulb.
You know, opportunity dropped in my head because I had resources. Though,
that's the point I'm trying to make. Because I had capital,
an opportunity came to me and I was able to
access that capital without permission from anyone. And this is
the power of the infinite banking concept. So the infinite
(23:40):
banking concept is a course. It should be approached as
a course, and it should and you should be under
the tutelage of a professional to set it up. But
once it's set up, it's an intergenerational opportunity to gain
and strengthen your finances and have living benefits. It's just
a phenomenal approach to wealth building and to function and
(24:01):
building a personal economy.
Speaker 2 (24:03):
That's what a personal or as a financial literacy expert,
what did you get your background to learn?
Speaker 1 (24:09):
What courses did you take to get you to this
point that be.
Speaker 2 (24:12):
So literate a literal or literle this level of expert
advice that you're able to give us.
Speaker 1 (24:18):
I would say that the School of Hard Nots is
a big UH was my big my biggest university. But
going into the fields, my experience in real estate, I
learned a ton being in the UH, the insurance space,
I learned the son a lot of self study. I've
been a tutelage under one of Nelson's top mentors, so
(24:41):
a lot of great mentors and all that. You can't
underscore mentorship. You cannot underscore mentorship. And you know what's
a lot that's not taught is that the game is
sold not told. There's a lot of great information you
can get from YouTube, but when you really want to
take it to the next level. You gotta be willing
to pay. And that's what I've done. I paid for
a lot of coaching and mentorship and it's brought me
(25:02):
to the next level. I've heard this terminal a lot.
Can you break free from debt through?
Speaker 2 (25:09):
The game is situated where you've got to stay in debt?
Speaker 1 (25:14):
Correct, brother Muhammad. So when people call I use the
term debt free, that's not real. Correct? You know that
that freedom is real, It is attainable, and it is
it's a beautiful space to be in. I mean, now
you older, you tell me right, and now you don't
(25:36):
have a credit card, bit that, don't have a credit card,
don't have a car note, don't have a house note.
Uh yeah, it's it's it's a beautiful space. But now
now it comes with a price. It comes with a
price for the average person. It may take two to
seven years to accomplish that. And I don't want to
paint a rosy picture. But all I can say is
(25:57):
it is sure worth it. It is show worth it.
Remember when we were on our journey, I asked my
wife how much was her student loans. She said fifty thousand,
and so we got into an argument. Fifty thousand. She said, yeah,
you told me to the first. I said, I didn't
tell you to the first. We going back and forth,
you know what I'm saying. So once cooler hands prevailed,
(26:19):
I said, all right, all right, we need to win it.
We don't do it together. I love it. I was like,
you've never heard that. Yeah, no, no, At that time,
that was huge for us. That was huge. And so
it's like sometimes because I'm married too, and sometimes my
wife will say something, I go and she goes, I've
told you that, right, right right, But here here's the
(26:40):
Kings party shine. After cooler Hands prevailed, we said, okay,
let's attack it. We pulled the credit report. The real
number was seventy two thousand. Almost fell out my shit.
I was like, oh my god. It took everything, But
you know, we stayed the course. We fought through it,
and today that's a major part that that binds us,
(27:02):
that journey. So, uh, yeah, it is attainable. It is
a process. You linked with the right community, we can
help you accomplish that. It's a it's a it's a
phenomenal reality. Yeah.
Speaker 2 (27:13):
Because now with you, my brother, how do I create
that financial game plan with your brother Mohammad. You know
you're my person, You're my personal financial coach. Now you
are consulted with you it's free. So now I'm going
I like this brother, he got everything. He's saying all
the right things to me. How do you create that
game plan for me?
Speaker 1 (27:33):
Well, we're gonna We're gonna start with a discovery call
and we're just gonna open up your financial situation and
let you see it for yourself. Everything. We're gonna look
at all the ins and out. And once we look
at all the ins and out, we're gonna give you
a game plan that starts from scratch that allows you
the one to get out of the situation you in
to begin to capitalize. The first phase of capitalization is
(27:55):
an emergency fund. The second phase is a homeowner down
payment unless you are we have it, and the third
phase is building up that opportunity fund and then show
you how to post the market correctly. So I'm giving
a over view, but trying to give me some insight
to how we put you on a plan and work
with you a lot of asks those questions and work
(28:17):
through that process.
Speaker 2 (28:19):
The process is this, if I sit down with you,
do I need life insurance? Brother Muhammad. Do I need
life insurance? Does the everyday person need life insurance?
Speaker 1 (28:32):
So personal finance is personal, so there needs to be
a personal assessment to answer that question. Generally speaking, yes,
there's some one off situations where you're single, no children,
nobody's depending on you. You may get away with a burial
policy you know you don't have any assets or whatever.
(28:53):
But generally speaking, we need to get into the business
of insurance to promote this intergenerational exchange of wealth so
that we can compete with our counterparts. So we strongly
encourage you to get that insurance policy in place. Absolutely.
Speaker 2 (29:08):
I'll tell you something, This has been fun, fun and
educational for me. I love your personality, I love your
approach there. How do we in touch with you, Brother Mohammad.
Speaker 1 (29:18):
There's a few ways you can go to wealth coachingstratusphere
dot com. You can email me at support at wealth
Coaching stratusphere dot com. I'm on Instagram at wealth Coaching
stratusphere and uh yeah, I just love to connect with you.
Send me an email, let me know what your questions are,
concerns though, and however wee can serve you. We'd be
(29:38):
happy to do so well.
Speaker 2 (29:39):
He's up there doing big things down and Katie, Texas,
which is right outside of Houston, Texas, my hometown. He's
a personal finance coach, a wealth coaching stratosphere. He's brother
Majiahad Mohammed. Thank you for coming on Money Making Conversation
master Class, my friend.
Speaker 1 (29:55):
Thank you, brother sign. We'll talk to yes, sir. Thank
you for listening to the episode.
Speaker 2 (30:00):
No, I need for you to do me a favor
right now to follow or subscribe to Money Making Conversations.
It's free and you can find it on the iHeartRadio app, Spotify,
Apple Podcasts, or wherever you get your podcasts. Please do
me that favor, follow or subscribe Money Making Conversations.
Speaker 1 (30:20):
Keep winning
Welcome to my show.
Speaker 2 (00:01):
I'm Rashon McDonald, a host of Money Making Conversations Masterclass,
where we encourage people to stop reading other people's success
stories and start planning your own. Now, you don't want
to miss an episode, so please take a moment right
now to follow or subscribe to Money Making Conversations Masterclass.
Speaker 1 (00:16):
It's free.
Speaker 2 (00:17):
You can follow me on iHeartRadio, app, Spotify, Apple Podcasts,
or wherever you listen to your podcast. New Money Making
Conversations Masterclass episodes drop daily. I want to keep you
on alert because my guests provide tips on how you
can uplift your community, improve your financial planning, motivation, or
advice on how to be a successful entrepreneur. Now, let's
(00:38):
get this podcast started. My guess is a personal financial
coach a wealth coaching Stratosphere. They provide expert financial coaching.
They have you take control of your money and build
a strong foundation for your future. Whether you need to
break free from debt, create a financial game plan, develop
better money habits, we are here to support you. That's
(00:59):
their model. Please work in the Money Making Conversations Masterclass.
Brother majah Hid Mohammad, how you doing, Brother Majaiat.
Speaker 1 (01:07):
I'm doing great by God's grace, and I'm happy to
be here with you. Brother Rashon.
Speaker 2 (01:11):
Okay, now you're basiced in Houston, Texas, and I'm born
and raised in Houston, Texas. So when I saw your
information come through my guests be Against portal, I jumped
on it immediately. Tell me what you're doing down in Houston, Texas.
Speaker 1 (01:21):
Brother, JAHI, Well, we are committed to assisting people in
the personal financial space. My expertise is both the real estate,
personal finance, and insurance as well. So we're helping young
families or people in general, you know, to get off
to a fast start and not duplicate those mistakes that
were originated by myself coming up and trying to develop
(01:42):
my personal financial portfolio. Well, I always say you learn
from your mistakes.
Speaker 2 (01:48):
You put it out there first, brother, But jah Hid,
what was some of the mistakes you made that you
don't want us to make?
Speaker 1 (01:54):
Give us a couple levels. Well, let me start from
the beginning. I think as I grew up, the story
was told to me. My dad went to the military
and he was sending home checks to help take care
of the family. At that time, you know, they were
extremely poor. So it was a necessity, and he's sending
checks every month, every pay period. When he got out
of the military, unbeknownst to him, my grandmother, his mother,
(02:18):
never cashed any of those checks, so she gave the
money back to him, and he used that to buy
his first duplex, and that laid the foundation for his
financial future. In mimicking fashion, I joined the military, but
I didn't need to send checks. We were in a
different time. Although I'm sure he would have taken my checks,
but I was saving the money. And when I came
(02:40):
home from the military, my father helped me find my
first duplex, and it was from that duplex that was
the launching pad. I got married. A few years later.
I identified this thing called equity. I pulled out over
twenty thousand dollars in equity and I immediately start They
call it a Bird technique. Back then, there was no bird,
(03:02):
there was no YouTube and everything like that. But we
essentially I was buying real estate, renovating it, renting it out,
buying it, refinancing it, renting it out, that whole bird method.
So we did that UNTI I mastered a million dollar portfolio.
I thought I had enough to leave my W two job.
I left the W two job three months later. Hurricane
(03:25):
Katrina hit the New Orleans area and at that time
none of my portfolio year was that. What year was that?
Speaker 2 (03:35):
Just remind everybody that the year hurricane in two thousand
and five.
Speaker 1 (03:39):
Yes, sir, at that time, I wasn't covered it just
it wasn't required and a devastation like that never happened before,
so there was no flood insurance. So we literally had
these decimated properties with no money to repair it. And
I remember being on a phone with a one of
the I was in the middle of a renovation at
(04:00):
that time, and the lender was chiding me. He was like, look,
I need you to get back on it and rebuild
this property and rent it out. I'm like, I don't
think you understand. It's not my property. There's no there's
no houses for blocks and blocks. The whole community was gone.
So that level of devastation was really unfathomable to all
parties involved. So after suffering that, went to Houston to
(04:24):
try to regroup, and I said I'm gonna come back
and recommit to building my portfolio. And then in two
thousand and eight and behold, we know what happened with
the real estate market, and that was kind of like
the nail that kind of sealed the coffin. So from
there I kind of hit myself over the head with
that invisible ham. I was blaming myself, thinking I wasn't
(04:45):
what I thought I was, and for several years I
just went on and thought I was a failure as
it relates in the financial space. But there was a
net unique circumstance that turned things around. You know. I
got a phone call from my wife. We had one
car at the time. I was at work, and she said,
she said, bete, they turned off the water. So I
moved some things around. I said, look, go pay this
(05:07):
water bill. So she literally walked to the utility company
to pay that water bill before the children could come
back home and realize what had happened. And I remember
looking my wife in the face and I said, back,
this next chapter of our life, I promise you We're
gonna have a lot of problems, but it won't be
a financial one. And so I committed myself to turning
(05:30):
our situation around. And that was the impetus to where
I knew I needed to do something different. And that's
really really the motivator for helping other families to not
experience that experience that I felt in that moment. What
year was that, brother Mujahad? So yeah, two thousand and
eight was from the collaption of the home mortgage that
(05:53):
was collapsing of the house Katrina. Two thousand and eight,
collapse of the home mortgages. Yeah, and then you had
a at least at least seven years that I was
just doing ins and out odd things. I drove, Yeah,
I drove this. So yeah, so what's seven on top
of two thousand and eight? Twenty fifteen? Okay, So yeah,
(06:14):
we're in that area at this point. Okay, cool, So
now the next ten years you got a plan in place?
Absolutely okay? And what was that plan? And why did
you feel the need to do because you know you
already messed up in New Orleans?
Speaker 2 (06:29):
Did that properties got washed away by mother nature Hurricane Katrina?
Speaker 1 (06:34):
Why would you go back into real.
Speaker 2 (06:36):
Estate after that level of devastation, brother, majority Well, here's.
Speaker 1 (06:40):
What I learned, and I think a lot of times,
what we do in our community, we tried to lead
with business, looking for business to solve our personal financial situation.
And the light bulb that came up with me is
that if you saw your personal financial situation, you can
grow organically and come to the market in a different way.
(07:03):
So I prefer to come to the market as a
well capitalized investor as opposed to an undercapitalized investor. And
when you prioritize your personal finance, accualage and grow according
to stage by stage, you'll eventually reach a point to
where you can come to the market and be more productive.
Because the big, biggest lesson I learned was that leverage
(07:26):
without liquidity is stupidity. And so at that time I
was real estate rich but cash poor, and so I
coming around a second time, I overemphasizing controlling my personal
financial situation so that I can approach the market from
a totally different perspective.
Speaker 2 (07:41):
So basically maintaining control with a plan absolutely so most
people get out there. And I will tell you when
I heard my first business, I just had a dream.
Speaker 1 (07:52):
I didn't have a plan.
Speaker 2 (07:53):
I didn't know the severity of what taxes were. I
didn't know understanding my employee is a workman's insurances that
need to be applied working with conversation, liability, all.
Speaker 1 (08:07):
E and O.
Speaker 2 (08:08):
If you're into advertisement all those things on top on
top to.
Speaker 1 (08:13):
Stay in business. Legitimately, that's what you learned in New Orleans.
That's right, you were in.
Speaker 2 (08:18):
Business, but you were not in business because it got
taken away because you didn't have all the necessary safeguards
in place. Now we're twenty fifteen. You contact me, said,
y Sean, I want to tell everybody about me. I'm
a personal finance coach. My business is wealth coaching stratus fear.
What is wealth coaching stratus fere?
Speaker 1 (08:39):
So the term stratusphere is pretty much a metaphor. And
what we've done is we've identified five areas of financial
development in each the lowest being financial failure that's when
you have more money than month, right, the least desirable
stratus fere you want to be in. But the next
(09:00):
financial health, that's where most of us find ourselves paycheck
to paycheck, we're able to meet those obligations. And then
the next stratosphere is financial fluency. That's where things get
better where you have more money than month, and then
you graduate to financial wealth. And the difference between wealth
and fluency is the accumulation of income producing assets, until
(09:22):
finally you grow into financial independence, where your money is
making money. So with each one of those stratospheres is
a diameter of thought. That's determine how many stradu three
or four? It should be five, it's five strata tray
repeat them again. Financial failure, financial health, financial fluency, financial wealth,
(09:43):
and financial independence. There you go, yes, sir as I
missed that count.
Speaker 2 (09:48):
Yeah, and so it started financial failure because that's where
a lot of people are.
Speaker 1 (09:52):
I've been there. You know.
Speaker 2 (09:53):
The reality that's why a lot of people get to
the next step is homeless. You know, pride comes into play.
You don't have a plan to get out of that spiral.
Why through the average person live in that financial failure
status or find themselves descending into that financial failure status.
Speaker 1 (10:15):
I think some of the major contributors is self esteem, certainly,
But then some of the more practical things or problems
is that we take advice from other poor people. And
that's the biggest mistake you can make in financial failure.
A lot of times people that have jobs at I
don't want to name one of the low income places
just to be derogatory, but they got those jobs from
(10:38):
friends that got them in there. And so when you're
not where you are. You have to do what you
haven't been doing, and so taking advice for people that
are in different stratus fees of different spaces is the
biggest way you can gain that quantum leap into your
next stratus. Feld let mens you this.
Speaker 2 (10:56):
Let's talk about personal financial philosophy. Your personal financial philosophy.
He gave us the five points. But I'm just a
guy walking into your office. Brother, But y'all hate and
I don't know. Man, I'm frustrated. I want to I
see people out there making money, but I'm not making
the money. I'm just an average guy working a forty
(11:16):
hour week job.
Speaker 1 (11:17):
Can you help me? Yes, emphatically. Yes. The first step
is understanding that it's a process and not a product.
You can't come to anyone to buy something to ameliorate
your situation. It's a process and you got to be
committed to the process. And for a lot of people,
it begins by just looking at your situation. You'd be
(11:37):
surprised the people that just refuse to look at where
they stand. So you have to look at it and
receive some information that's objective to point you in the
right direction. And once you take a look, nine times
out of ten. It's not as bad as you think
it is with the pizzo.
Speaker 2 (11:57):
What's side of the table you're sitting there, brother, Okay,
because I'm telling you I've had a headache on outside
of the table because it looked pretty bad.
Speaker 1 (12:05):
But I think that what you're saying is don't allow
the moment to overwhelm you. Emphatically, I was saying, take
that deep breath. Absolutely, And also.
Speaker 2 (12:17):
I think a key for me is looking around and
surrounding and see who's there to not so much give
you money, but that can support you, that you can
talk to, because a lot of people fall victim to
a lot of their calamity because they don't have anybody
to talk to because they, like you said Alreadier, a shame.
(12:37):
I feel that they don't want to look bad. They
don't want to feel that, hey, I'm a failure. Especially
the families, especially the friends, especially coworkers. Now when you're
talking about your financial philosophy, I'm a person.
Speaker 1 (12:54):
I'm doing all right. I want to get into real estate.
You know already told me your real estate story two
thousand and five. Contrina, send your packet, set your pack it.
How do I get in to real estate? My suggestion
as far as real estate is to it should be
it should be pre approached with the capitalization phase, and
(13:16):
you should not approach that unless you're in you you
pass financial fluency. So what what happens is a lot
of times, you know, there's a lot of things out
here no money down. And these are true philosophies. You
can acquiesce real estate with creative financing with no money down.
But what the story that's not told is you can't
keep real estate with no money down. Real estate is
(13:39):
a heavy, financial intensive business and there's a uh, there's
a what you call it a factor. It allows it
acquires a lot of involvement. So the best thing you
can do is go through that capitalization phase, which we
know you beyond that, but I'm talking to the average person.
(14:00):
You need to spend time. What does that mean? Capitalization
that's just saving money. A lot of people frown on
saving money. But you can't approach an opportunity without an
opportunity fund. So you want to come to the market
well capitalized. That's my advice before you thinking about real estate, first,
focus on capitalizing your personal situation and it makes a
(14:22):
big difference when you come to the market well capitalized.
The first thing is you see opportunities that other people
don't see. And a lot of times when you have money,
things that you thought that you wanted when you were broke,
you don't want it anymore, you know. And lastly, I
say this, what does well capitalize look like? That's a
(14:44):
very subjective language, but we do know that. Warren Buffet's
right hand man, Charles Munger, he said, you got to
get your first hundred thousand. Do whatever you do to
do that. Please don't go anywhere. We'll be right back
with more money Making Conversations. This is masterclass.
Speaker 2 (15:01):
No need for you to do me a favor right
now to follow or subscribe to money Making Conversation. It's
free and you can find it on the iHeartRadio app, Spotify,
Apple Podcasts, or wherever you get your podcasts. Please do
me that favor, follow a subscribe money Making Conversations. Welcome
(15:23):
back to Money Making Conversations Masterclass hosted by me Rashaan McDonald.
Money Making Conversation master Class continues online at Moneymaking Conversations
dot com and follow money Making Conversations Masterclass on Facebook,
X and Instagram. You have to plan to be successful
you have to plan. And so many people this will
(15:44):
always get to me. People want to get into real estate, right, brother,
And so they sit up there and they go buy land,
but they have no way of saying they forget the
one key thing about buying land taxes. They gonna come
get those taxes. So if you bought land, that's what
you was talking about having capitalization, that's what you're talking about,
(16:04):
having money. Because if you are not in a position
to make money off that land or that house that
you just bought, and you're not remodeling, you not trying
to flip it, the taxman's going to come and he's
going to come and want his money. And if he
doesn't get his money, he's going to find you and
find you. Eventually he's going to take back something that
(16:26):
you invested in. And that's a key element that a
lot of people don't think about when they buy land.
Speaker 1 (16:32):
Land is key.
Speaker 2 (16:32):
If you buy land and there's nothing happening on that land,
that could become a liability very very quickly.
Speaker 1 (16:39):
Correct, brother, absolutely, And I want to really speak to
the one hundred thousand dollars because it may overwhelm someone
that's in another stratosphere and The point is that this
is a process, not a product. I'm speaking in a
certain stratosphere when I see one hundred thousand, and you
have to respect the process. So if you're in a
financial health stratosphere, you don't need to be thinking about
real estate. You got to be a thousand are before
(17:01):
you can be a ten thousand air before you can
be one hundred thousand are. So respect the process, know
where you are, and grow organically. It was I think
Abraham Lincoln is credited as saying, if he has six
hours to chop down a tree, he will spend four
of them sharpening his axe. So don't underscore preparation. It's
not that nothing is happening. Something is happening. You're developing
(17:24):
so that when you approach the market, you approach it
from a position of strip. I love you man, you
got it.
Speaker 2 (17:28):
You got those catchphrases down path, man, I love talking
to you.
Speaker 1 (17:32):
Man.
Speaker 2 (17:34):
What is the benefits of financial coaching that you provide?
What are the benefits?
Speaker 1 (17:38):
So it's being able to talk to someone kneecapped. To
kneecap is being able to hear from someone objectively, someone
to be able to feel what you feel. That's been
where you've been at. Like I said, most time we
take advice from people that are on our same level.
We need to hear from someone objectively on our next steps. Now,
financial coaching is a very serious step. So if you're
(18:00):
not seriouh, you might want to read a book, you
might want to watch the YouTube page. But when you
talk talking about financial coaching, you're talking about you're really
committed to going to that next level.
Speaker 2 (18:10):
It's important that people understand. I'm talking to brother majah
Hid Muhammad. He's a personal financial coach located in Katie
right outside of Houston, Texas, and the name of the
company is Wealth Coaching Stratosphere. When we're talking about three
ways our clients can work with us, that means us
being you. How can a client come to you in
(18:32):
those three ways you benefit.
Speaker 1 (18:33):
Them absolutely, So I would say you can eat. If
you just have a one off question or concern, just
shoo me an email. And if you don't mind hearing
an opinion, I can't give you investment advice. You want
to seek those professionals out, but I would love to
hear from you where you are and share ideas with you.
So that's one way to just an email. If you
(18:55):
lead a financial group or you promote financial literacy and
you want us to come on and have some concepts
and help develop that group. We talked to married circles
where there's there's singles and you talk about money and
marriage and different things like that. Or if you want
direct financial coaching, visit us at Wellcoaching statusphy dot com.
(19:17):
Set up a free consultation and we'll we'll put you
in the right direction. I love the word free here
that ladies and gentlemen, he will give you.
Speaker 2 (19:26):
Like I said, man's not gonna give away his business career,
but he's willing to consult you, lay down a game plan,
find out if you guys can work together, then they
put a plan in place and you both can win.
But again, he's being honest. A lot of people who
charge the word consultant got to pay him a fee,
whether it's nine ninety nine or fifty nine ninety five.
(19:46):
He's not saying that. He's saying that basically, come to him,
contact him. He'll lay down the whole process in a
complimentary fashion. Find out if y'all can develop a work
a relationship. You get to work a relationship on the
point then you win together. Now, let's talk about the
personal financial condition of middle and common America, because that's
where every politician who runs for office talks about middle
(20:10):
income And then we got.
Speaker 1 (20:12):
Tariffs sitting out there, brother Muhammad Man. So the good
news is that the economy doesn't have to be your economy.
And that's why we teach personal finance. And here's the
outlook of the average American that after take home pay,
twenty percent is committed to transportation, another thirty percent to housing,
(20:37):
and then another forty percent is committed to living expenses,
which leaves ten percent which we're trying to invest in
mutual funds, real estate and what we do. But if
we would just give focus to that ninety percent that
is encumbered through financing, we need to get the banks
out of our lives. They are over help us, overcome admitted,
(21:00):
and underfunded. But if you work to free up that cash,
now you create a tail wind that can really cause
you to change your financial reality. So I know we're
taught to have the credit cards. I know we're taught
to get the real estate forty five percent because of doubt,
it looks so good and all these the cards and
all these things, but we just need to get those
(21:23):
banks out of our lives, free up that cash flow.
Because look, if you have a six figure income, your
problem is you. And I hate to sound so blunt
like that. It's about living within your means and being
a partner with your partner and coordinating your personal financial
reality and you can really change your situation. Wow, now
(21:44):
we were talking about banks.
Speaker 2 (21:46):
Now on your card, you sent me about infinite banking concept.
I've never heard that. What is that infinite banking concept?
Speaker 1 (21:56):
Help me out there, brother Mahama. A gentleman named Nelson
Nash he identified a concept that he dubbed the infinite
banking concept, And through the infinite banking concept, we're taught
how to gain control of the banking function in our lives.
That's something we really don't think about. But when we
(22:18):
want to buy a home, when we want to buy
a car, when we want an education, we have to
go to third party gatekeepers that will determine if we
can have that. In building your own banking you learn
how to use a life insurance policy for its living
benefits to accumulate capital that can in turn allow you
(22:41):
to access for business opportunities. So I was my barber.
We were in a barbershop. He decided to leave and
he sorted his own barbershop. So we were just getting
the standard cut and he said, hey.
Speaker 2 (22:55):
You need a chair in another barbershop.
Speaker 1 (22:58):
Yeah. So yeah, my barber in a barbershop and he
decided to go do his own thing. So yet so yeah,
So I'm at his chair in the barbershop and we're talking.
He said, hey, you know, the barbershop we left is
up for sale, and so I said, oh, that's interesting.
Why the manager of the barbershop, while he didn't buy it,
he said, he don't have that type of money. I said,
you don't want to buy it. He said, if I
(23:19):
had the money, I would buy it. So then light bulb.
You know, opportunity dropped in my head because I had resources. Though,
that's the point I'm trying to make. Because I had capital,
an opportunity came to me and I was able to
access that capital without permission from anyone. And this is
the power of the infinite banking concept. So the infinite
(23:40):
banking concept is a course. It should be approached as
a course, and it should and you should be under
the tutelage of a professional to set it up. But
once it's set up, it's an intergenerational opportunity to gain
and strengthen your finances and have living benefits. It's just
a phenomenal approach to wealth building and to function and
(24:01):
building a personal economy.
Speaker 2 (24:03):
That's what a personal or as a financial literacy expert,
what did you get your background to learn?
Speaker 1 (24:09):
What courses did you take to get you to this
point that be.
Speaker 2 (24:12):
So literate a literal or literle this level of expert
advice that you're able to give us.
Speaker 1 (24:18):
I would say that the School of Hard Nots is
a big UH was my big my biggest university. But
going into the fields, my experience in real estate, I
learned a ton being in the UH, the insurance space,
I learned the son a lot of self study. I've
been a tutelage under one of Nelson's top mentors, so
(24:41):
a lot of great mentors and all that. You can't
underscore mentorship. You cannot underscore mentorship. And you know what's
a lot that's not taught is that the game is
sold not told. There's a lot of great information you
can get from YouTube, but when you really want to
take it to the next level. You gotta be willing
to pay. And that's what I've done. I paid for
a lot of coaching and mentorship and it's brought me
(25:02):
to the next level. I've heard this terminal a lot.
Can you break free from debt through?
Speaker 2 (25:09):
The game is situated where you've got to stay in debt?
Speaker 1 (25:14):
Correct, brother Muhammad. So when people call I use the
term debt free, that's not real. Correct? You know that
that freedom is real, It is attainable, and it is
it's a beautiful space to be in. I mean, now
you older, you tell me right, and now you don't
(25:36):
have a credit card, bit that, don't have a credit card,
don't have a car note, don't have a house note.
Uh yeah, it's it's it's a beautiful space. But now
now it comes with a price. It comes with a
price for the average person. It may take two to
seven years to accomplish that. And I don't want to
paint a rosy picture. But all I can say is
(25:57):
it is sure worth it. It is show worth it.
Remember when we were on our journey, I asked my
wife how much was her student loans. She said fifty thousand,
and so we got into an argument. Fifty thousand. She said, yeah,
you told me to the first. I said, I didn't
tell you to the first. We going back and forth,
you know what I'm saying. So once cooler hands prevailed,
(26:19):
I said, all right, all right, we need to win it.
We don't do it together. I love it. I was like,
you've never heard that. Yeah, no, no, At that time,
that was huge for us. That was huge. And so
it's like sometimes because I'm married too, and sometimes my
wife will say something, I go and she goes, I've
told you that, right, right right, But here here's the
(26:40):
Kings party shine. After cooler Hands prevailed, we said, okay,
let's attack it. We pulled the credit report. The real
number was seventy two thousand. Almost fell out my shit.
I was like, oh my god. It took everything, But
you know, we stayed the course. We fought through it,
and today that's a major part that that binds us,
(27:02):
that journey. So, uh, yeah, it is attainable. It is
a process. You linked with the right community, we can
help you accomplish that. It's a it's a it's a
phenomenal reality. Yeah.
Speaker 2 (27:13):
Because now with you, my brother, how do I create
that financial game plan with your brother Mohammad. You know
you're my person, You're my personal financial coach. Now you
are consulted with you it's free. So now I'm going
I like this brother, he got everything. He's saying all
the right things to me. How do you create that
game plan for me?
Speaker 1 (27:33):
Well, we're gonna We're gonna start with a discovery call
and we're just gonna open up your financial situation and
let you see it for yourself. Everything. We're gonna look
at all the ins and out. And once we look
at all the ins and out, we're gonna give you
a game plan that starts from scratch that allows you
the one to get out of the situation you in
to begin to capitalize. The first phase of capitalization is
(27:55):
an emergency fund. The second phase is a homeowner down
payment unless you are we have it, and the third
phase is building up that opportunity fund and then show
you how to post the market correctly. So I'm giving
a over view, but trying to give me some insight
to how we put you on a plan and work
with you a lot of asks those questions and work
(28:17):
through that process.
Speaker 2 (28:19):
The process is this, if I sit down with you,
do I need life insurance? Brother Muhammad. Do I need
life insurance? Does the everyday person need life insurance?
Speaker 1 (28:32):
So personal finance is personal, so there needs to be
a personal assessment to answer that question. Generally speaking, yes,
there's some one off situations where you're single, no children,
nobody's depending on you. You may get away with a burial
policy you know you don't have any assets or whatever.
(28:53):
But generally speaking, we need to get into the business
of insurance to promote this intergenerational exchange of wealth so
that we can compete with our counterparts. So we strongly
encourage you to get that insurance policy in place. Absolutely.
Speaker 2 (29:08):
I'll tell you something, This has been fun, fun and
educational for me. I love your personality, I love your
approach there. How do we in touch with you, Brother Mohammad.
Speaker 1 (29:18):
There's a few ways you can go to wealth coachingstratusphere
dot com. You can email me at support at wealth
Coaching stratusphere dot com. I'm on Instagram at wealth Coaching
stratusphere and uh yeah, I just love to connect with you.
Send me an email, let me know what your questions are,
concerns though, and however wee can serve you. We'd be
(29:38):
happy to do so well.
Speaker 2 (29:39):
He's up there doing big things down and Katie, Texas,
which is right outside of Houston, Texas, my hometown. He's
a personal finance coach, a wealth coaching stratosphere. He's brother
Majiahad Mohammed. Thank you for coming on Money Making Conversation
master Class, my friend.
Speaker 1 (29:55):
Thank you, brother sign. We'll talk to yes, sir. Thank
you for listening to the episode.
Speaker 2 (30:00):
No, I need for you to do me a favor
right now to follow or subscribe to Money Making Conversations.
It's free and you can find it on the iHeartRadio app, Spotify,
Apple Podcasts, or wherever you get your podcasts. Please do
me that favor, follow or subscribe Money Making Conversations.
Speaker 1 (30:20):
Keep winning
Host
Rushion McDonald
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