Ash Cash, Storm Leroy, & Marvin Mitchell Talks Investing Your Money, Financial Planning + More
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Speaker 1 (00:03):
What's up. It's way up at Angela Ye.
Speaker 2 (00:05):
And it's a Wealth Wednesday, So of course my partner
Stacy Tisdale is here with me.
Speaker 3 (00:09):
Happy Wealth Wednesdays. We are taking you way up and
down the Path to Prosperity today.
Speaker 1 (00:15):
Yes, now it's good to have you guys back.
Speaker 4 (00:18):
Yes.
Speaker 2 (00:18):
So we've done Path to Prosperity previously and it was
amazing when you guys were on the Breakfast Club. But
now we're doing a way up at Angela Ye. And
we have a challenge that we're going to be doing.
But let's start talking about path to Prosperity and you
guys actually coming together to form this.
Speaker 5 (00:34):
Yeah, I mean I think for us it was it
was a diviney aligned you know, each of us had
a mission to help people make, manage and multiply money,
and we just were in different lanes and we realized
that if we came together, it'd be more powerful.
Speaker 6 (00:50):
Right.
Speaker 5 (00:50):
There's a lot of people out there that talk about
financial literacy, generational wealth, things of that nature. But all
of this is information, Like people are getting information, Uh,
but what about the application? Like how can you apply
these you know, this this information in order to like
truly create generational wealth. And so you know, I, you know,
I talk about you know, with my banking background, I
(01:13):
talk about multiple streams of income. Marvin you know, talks
about insurance and how to you know, use insurance.
Speaker 4 (01:20):
Oh man, the game as the employeed millionaire.
Speaker 5 (01:24):
So it's just it was just synergy and teaching people
how to implement these these these uh principles in order
to bill wealth.
Speaker 7 (01:32):
You know, the power of collaboration, we know this is powerful.
We both were all individually successful. What makes us different is,
as was the CEO of a credit union, I've owned
a financial firm for seventeen years, so I've been doing
this for a long time. Storm has been doing real
estate for a long time, before social media, before we
were even on social media effects, before we were getting
(01:54):
interviews before any of this. So although we were successful individually,
when we came together to help the people and we
say let's lower ourselves individually so that we can maximize
ourself as a group, the numbers that came in were
just strong. The people that we began to help, We
begin to literally help thousands and thousands of people almost overnight,
just by joining together.
Speaker 2 (02:14):
So it was anowerful I think it's important to talk
about your experience and credibility because there's a lot of
people out there who are selling classes, our quote mentors,
but they may not like what's the background, How do
they have the experience to even be able to tell
us what we need to do?
Speaker 1 (02:28):
What is their success rate looking like?
Speaker 3 (02:30):
And we've really worked with a lot of work to
bring attention to a lot of different groups, and we
really vet them closely and really partner with very very
few of them. And this is just a shout out
to what these gentlemen are and what they have accomplished
and how they've helped thousands of people build millions of
dollars with the three tiers of the path to prosperity.
(02:51):
Tell us about those three tiers for our prosperous journeys
and not crying tiers, but.
Speaker 8 (02:58):
Sometimes yeah, definitely to the background part. You know, I
started buying real estate. My first piece of real estate
was in nineteen ninety nine, so that's way before any
of the social media kick and people see us now,
so like getting the switch, but you know, it's taking
my job, working that job and understanding that the job
is actually paying us not to come back to work
(03:19):
We just don't realize that. We think the job is
paying you to keep paying bills, get charged up and
come back when they're paying you to invest in yourself.
Find that thing, put it on repeat, because it's important
to use your salary to go to the next level.
Because if the only way you can make money physically,
what happens when you can't physically do the job?
Speaker 3 (03:38):
No more so everything.
Speaker 9 (03:40):
Yeah, it starts with the.
Speaker 8 (03:41):
Belief that transforming to the mind shift that now you
can implement that thing. So the pillars of what we have,
make multiply and manage.
Speaker 3 (03:49):
That's the three pillars. Yeah, maybe multiplying man and make
multiply man.
Speaker 2 (03:54):
I want to talk about your real estate though, because
right now is of course you do. But like the economy,
people are really nervous to do anything right now. They're
nervous about the stock market, they're nervous when they're thinking
about insurance, they're nervous about real estate interest rates right now,
and just even like materials, a lot of people are
(04:14):
having issues when they try to buy a home to
flip and finding that they're actually losing money in certain situations. Right, So,
how has the real estate market been for you? Because
sometimes people think that's such a sure thing, but it's
not always a sure thing.
Speaker 8 (04:28):
I look at it as as this way, and I
like a lot of people get in the space to
think about don't think about start losing money in the beginning.
Speaker 9 (04:35):
You'll make money later.
Speaker 8 (04:36):
Not in real estate like a lot of us be like, oh,
I'm going to buy this property, I'm going to flip it,
I'm going to find a tenant. Well, you're losing money
in the process. I look at buying properties that are
tenant occupied already, that are company's making money, Like, look
at that as a company.
Speaker 9 (04:51):
So if you know you're.
Speaker 8 (04:51):
Buying a property and it costs one amount, let's say
one hundred thousand dollars, and you know the rent's going
to cover that mortgage.
Speaker 9 (04:58):
You're buying a business.
Speaker 8 (04:59):
If they never was late on making a payment for
two years, why would they stop paying rent. You're buying
a business. Now, just get someone to manage the business,
and you just go around and do what buy more
businesses and you can do this across the entire United
States and still maintain working. Why are you're buying more businesses?
So when you're able to buy at a price now
(05:19):
and you know the numbers work. Look at when the
interest rates goes down, and now you can refin, it's
going to be even a better deal. And if it's
so much of a chaotic situation now in real estate,
why is there's still so many shortage of houses? Why
is there still so many people buying, why there's still
in So it's portrayed to.
Speaker 9 (05:38):
Us housing is bad, stocks are bad.
Speaker 8 (05:40):
Everything is bad when the underlying story to me when
I hear these things are oh, you mean it's on sell?
Speaker 5 (05:45):
And so think about this though, right, So Storm started
investing in real estate in ninety nine with eight eight
thousand dollars, became a multi millionaire while working at Horizon.
Let's not let's not go by that. And he's still
investing in real estate. While eight two thousand and one happened,
two thousand and eight happened, two thousand and nine happened,
the pandemic happens. So the good thing about the way
(06:09):
he invests in real estate is the fact that he's
investing in real estate.
Speaker 4 (06:13):
And he teaches this on our challenge as well.
Speaker 5 (06:15):
He's invested in real estate with income producing properties already,
So it's good, Like if you want to do fix
and flip, that's cool. If you want to do wholesaling,
that's cool. But let's there's a specific niche of properties
that you can buy that already, like you already know
going in is going to make you money, right and
for me, you know, you know, I started my career
(06:36):
as a banker in nineteen ninety nine actually as well, right,
I was a tell personal banker, private banker, and a
lot of things. I realized that people focus a lot
on is interest rate, Like, oh my god, the interest
rates are high, right, But here's the secret. The secret
is banks have to lend money. I don't care what
the interest rates are. That is the way that banks
make money without so I don't care what the economy
(06:59):
is doing. They are going to to you know, you know,
lend money. And so what we've been doing is teaching
people how do you take that credit and how do
you create wealth from that credit? Right, So think about
this real quick. Conceptually, if you go to a bank,
the bank has to lend this money out. The bank
has to give you this money, and you get this
money and whatever the interest rate is, if you follow
(07:19):
the methodology that Storm does, where you're buying income producing
properties anyway, Technically it really doesn't matter what the interest
rate is because your tenant is paying is paying for
that interest, right and then and you're taking that money
and you're not You're not you know, uh, you know,
buying clothes with it. You're not doing nothing that's risky
with it. You're you're actually getting into a business that's
(07:42):
already cash on. So before you even sign on the
dotted light line to take out that credit, you know
how much, how much your your note's gonna be. You
know how much money you're gonna get. And then once
you do that, you go to Marvin, and Marvin teach
you how to.
Speaker 3 (07:59):
Second, first of all, you've made the point there. If
you are if you're buying something that has a tenant
in it, does that make it.
Speaker 1 (08:07):
Easier to get?
Speaker 3 (08:09):
Makes it easier to get?
Speaker 8 (08:11):
You look at buying properties that For example, I love
to buy government programs houses that are government funded meeting
Section eight VA housing because the government's never laid on rent.
When I was buying Section eight properties years ago, they
was looking at me like a mad man. Why you
buy Section eight properties? COVID hit guess what government wasn't
(08:31):
laid on my rent. Everybody has stories, and I said,
this is why. And you know Section eight in certain
areas of the country are very nice homes.
Speaker 9 (08:38):
People just need a little help.
Speaker 8 (08:40):
So I look at buying those properties because they were
making money and the government was coming through.
Speaker 2 (08:44):
Now, Marvin, let's see how what does insurance have to
do with all of this.
Speaker 1 (08:47):
And how can that help fund?
Speaker 7 (08:49):
Thank you. So we got to talk about this because
this is this is dema most critical thing when it
comes to financial plan So Staycey and Angela. The reason
why I talk about this is that our system is
feeling us is So I've been a financial advisor for
(09:09):
seventeen years. Again, like when I started in this particular business.
I got into this business because my grandmother. See my grandmother,
she she saved, She worked for a company for thirty
five years, saved in her four h one k. Did
everything that we're taught for the average person to do.
But she was afraid that she was going to become
a burden on a family toward the end of her life.
(09:32):
And that's exactly what happened because before she passed away
with cancer, unfortunately the stock market crash, she lost fifty
percent of her money. She had no long term care insurance,
and I watched my grandmother run out of money and
feel that she was that burdenard on the family. So
I said, I can't let that happen to anybody. So
(09:52):
I came into the financial industry at a big Wall
Street firm, thinking that I was going to be the
one to make a difference. And then I realized that
the industry cared more about lining up their own dollars
than they cared about actually making sure that the people
got what they needed and got what they wanted. That's
why people are following the system rules, saving in their
four to one K working for a company, retiring in
(10:14):
sixty five, living off of less than they earned when
they were working, and they're.
Speaker 4 (10:18):
Still running out of money.
Speaker 7 (10:19):
There was a statistic that I just read about New
York Times that said people making over six figures, forty
eight percent of people making over six figures are still
living paycheck to paycheck and percent of running out of
money before they retired. So I was like, I got
to do something different, So I left the big Wall
Street firm and I started my financial firm with the
emphasis on making sure that that solution is done. So
(10:42):
what I came across is that wealthy people were not
doing the same thing that ordinary people were doing. They
were not saving in four one k's paying off their
house early. What they were doing is they were leveraging.
They were learning how to use tools such as life insurance.
They were having this policy. They all had these policies.
Speaker 3 (11:00):
Till like VUL policies because those are expensive.
Speaker 7 (11:03):
Great question. No, no, not VUL. So there's different types
of policies. You got the VUL by the.
Speaker 3 (11:09):
Way, everybody that's variable universal life. They're really cool because
when you put money in it, it kind of grows
in the stock market and you can borrow against that.
But they're a little pricey.
Speaker 7 (11:18):
What the problem is is that it's in the stock market.
So it's a variable universal life, which means it varies,
which means, just like the four oh one k, you
can make money and you can lose money very expensive fees.
And you also have term life, which a lot of
people know about. Problem with term life is for a
term which means ten years, twenty years, it expires, then
what you have no more life insurance. Term is okay
(11:41):
when you're super super young and you're early in the game.
Problem is is that maybe you got to get approved again.
What if your health goes bad, you don't have life insurance.
So permanent policies vul is one that I don't recommend,
but also the two that I do recommend will be
Whole Life or Index Universal Life. But it has to
be properly stressure the right way. Because of not you're
(12:01):
still paying the expensive fees and you're not building up
a cash value. So when you're building up this cash value,
Whole Life is going to allow you to get a
fixed rate of return and borrow against it within thirty
days and your money continues to grow as if you
never touched it. Index Universal Life is going to allow
you to grow it faster because you can actually earn
up to ten or twelve percent per year, but you
(12:24):
can't borrow against it as fast. So you have to
pick your poison on what you want to do. And
the rich people what they used to do. They dump
money into these policies, they borrowed against it, then a
policy continued to grow as if they never touched it,
so they were making money off the same dollar multiple times.
Speaker 2 (12:40):
Yeah, we had a great conversation about this off the record,
about what I need to do. He's gonna take a
look at my insurance.
Speaker 3 (12:46):
Isn't it exciting?
Speaker 2 (12:47):
Though?
Speaker 3 (12:47):
You're going to actually teach people how to do this
on the way up Prosperity dot Com challenge. Everybody just
sign up for that way of Prosperity dot Com the challenge.
Speaker 4 (12:55):
You're going to be amazed.
Speaker 3 (12:56):
You're gonna teach people how to do that.
Speaker 2 (12:58):
Now, I want to ask you guys some some things
that have been happening on the eet okay. For instance,
people were weighing in on Gabrielle Union and doing waiting.
Speaker 1 (13:08):
I'm sure you saw this story.
Speaker 2 (13:10):
Ye where she said this going there she pays fifty
percent of the bills and people were furious, like Dwayne
Way's made two hundred million dollars and why are you
doing that? And she's like, look, this is what works
in my household. They have other families on both ends
who they that they take care of. Of course he's
offered to handle everything. What are your thoughts on fifty
to fifty in the household?
Speaker 3 (13:31):
The mindset?
Speaker 5 (13:35):
We talked about this, So I'll go first because because
because I don't believe in that I believe in and
once to come look I believe in one income household.
Speaker 4 (13:44):
I believe that the man should take care of everything.
Speaker 3 (13:47):
We're gonna fight, Yeah, I believe in that.
Speaker 5 (13:49):
But but I also believe that financially, the family should
be on the same age where collectively, uh, there should
be financial goals and the money that's coming into the
household should be feeding the financial goals.
Speaker 4 (14:02):
Right.
Speaker 5 (14:03):
So, if the man is taking care of everything and
the money and there's still money coming into the household,
doesn't mean that the woman. If the woman makes money,
that you know, she could do whatever she wants with
the money. It's it's like, now the rest of that money,
let's invest it. Let's kind of come together and figure
out how we're gonna grow, right, how we're gonna make
make more money, how we're gonna manage that money, how
we're gonna multiply that money. And then that's how you know,
(14:25):
we we stay on the same page as it relates
to finances. I think that you know women again, though.
Speaker 4 (14:32):
But I don't.
Speaker 5 (14:33):
I think if women don't have to work, if they
don't want to in a in a committed, committed relationship.
Speaker 3 (14:39):
Keep this in mind and your answers and you're thinking
a good friend of ours, Cassandra Cummings, who's had the
stocks instill let Us Society, we had this whole conversation,
she pointed out, and I can tell you a financially
independent woman can conduct themselves differently in a relationship. There
when you take that financial piece out, the relationship is
(15:00):
completely different. Agree, And that's it's a freedom, it's a
healthier relationship. And I'll just keep that in mind.
Speaker 2 (15:07):
And let's just say she's not working, right and you're
in like you said, she doesn't have to Does that
mean she's entitled to half if things shouldn't work out?
Speaker 5 (15:14):
Yeah, And so that's the thing, right, So I don't
think she I don't think that she should be entitled
to half if she if if she right, if she's
not contributing to uh the total uh improvement of that household.
Speaker 6 (15:27):
Right.
Speaker 5 (15:27):
So it's so it's it's like this, right, It's like
if if if the guy is bringing in all of
the income, let's just say, for instance, and she doesn't work,
but she's taking care of the kid like she's she's contributing,
you know, a lot to the stability of that household,
then absolutely she should get half. Right, Okay, if if if,
if there's another arrangement where she's working, or whatever the
(15:48):
case may be. I just think it's all individual. But
again I think that there should be a collective collectively,
they should be working together. So it's not like I
make all the money so I have the power. No,
I you know, I'm working and I'm taking care of everything.
But that's something that we agreed on. That's something that
as a couple, we said, all right, this is what
(16:10):
we're gonna do. We're gonna rely on this on this
one income to take care of the basic necessities, and
now all of the other things. Now we come together
and figure out how do we make those flourished.
Speaker 9 (16:22):
As a couple's cue. That's cue.
Speaker 7 (16:28):
I do believe in the man being the provider in
the household, and I do believe that the man, in
my opinion, should, especially in a married relationship. Looking at me,
consume got a different opinion about this. So so I
do believe that. But I also feel like whatever you should,
you should I a man, you should get with a
woman that takes whatever you contribute to it to multiply.
(16:52):
If all she's doing is just taking the money and
just consuming, consuming, consuming and I'm just basically paying you
an allowance. Then they can actually be sometimes a little
bit of a burden. Right, But if I'm giving, but
if I'm given, let's say I'm giving you ten twenty thousand,
but you're taking some of their money and you starting
something to side. Maybe you invested in some real estate,
like if we don't ever work out, take the money
(17:12):
to make sure you made yourself better off. Then before
you got into the relations.
Speaker 2 (17:16):
Are you're giving the money or is it a big
account that we have access to ulso.
Speaker 7 (17:19):
So three different accounts, right, So I believe that you
should have your own account, but then a shared account,
right because if you're buying me something for Christmas, I
don't want to have to see it coming out of
the account. But we got everything together. You got to
have some some sort of independence. But at the same time,
it's just going to be better for you if you
learn how to manage your own account and then we
got our account together to share it responsibility.
Speaker 3 (17:41):
It's again, it's different. I remember I think it was
Wendy Williams asked her audience. The women in her audience,
if they each got five million dollars, would they stay
in their marriage.
Speaker 4 (17:50):
Oh that's a good question, and like.
Speaker 3 (17:52):
None of them would. It was like none of them.
A lot of people stay. That's what Cassandra's talking about.
If you take money out of the equation, you have
a relationship, but standing on its own.
Speaker 5 (18:05):
When the man is using the money as a control mechanism.
And that's not what I'm saying.
Speaker 3 (18:11):
It's not about control, but not not intentionally. But if
someone's paying the bills, they do have an element of control.
You are you are not controlled that we don't talk
about control. You are dependent on them, but in a
way you could develop them. We are going so off track.
Speaker 1 (18:27):
What makes more than you?
Speaker 2 (18:29):
Right?
Speaker 5 (18:29):
And and that's the thing, right, So I'm saying that
it goes into this.
Speaker 7 (18:35):
Okay, Storm, start a second before Storm goes to say that, yes,
you some before we get too far off the track.
We're gonna get to this. We got to tell you
all that we are about to show you how to make,
multiply and manage your money. All right, Storm, Prosperity dot Com.
Speaker 3 (18:56):
You gotta go there way whatever, Storm, because you're.
Speaker 8 (19:01):
This isn't the nineteen sixties, nineteen seventies, when one person
can manage a household where he can go to work,
she can stay home raise all the children.
Speaker 9 (19:10):
Now, this is for people don't have a lot of money.
Speaker 4 (19:12):
You need for me.
Speaker 8 (19:13):
You need to know who you're investing in as a
person and what do they bring it to the table.
Are you trying to grow together or she's staying home
while you build something. But to inherit another person, which
to me, if they don't have anything going on, you're
inheriting debt. You need to inherit an understanding. You need
to inherit someone who's willing to build with you and
(19:34):
not take away from you, and not who's willing to
sit there and say you go do do everything, and
if something falls apart, I'm going to leave because you
made me relying on what you were doing right, so
if you didn't ask the important questions. This is for
guys who are not making a lot of money. We
tend to get caught up in the fact that she
looks so pretty that my obligation is to do. But
(19:55):
when you start doing and you can't do anymore, will
she be there because you came in doing. Now, for
men that have money, I believe a man who's had money,
he has other situations. He may have an ex wife,
he may have children, he might have alimony. If she
has money, she should say to herself, what are we
doing as a group? And never it's too much love
(20:16):
and not enough business. That equates a better loving. So
when you put the business aspect in front, now you're
able to build. I want somebody who could say me
and you will take a business and in business and
build a corporation. Somebody has to be the president. Somebody
got to be the vice president. And long as she
knows her role as vice president, because there's certain things
as a president I can't do. Yeah, okay, let me
(20:39):
let me implement just a little bit more, because I
don't want that to sound too misogynistic.
Speaker 3 (20:43):
I'm not challenging you. What I'm just saying. The reality
is that seventy percent of all the households in the
United States, women are the primary breadwinners. Now, yes, and
I'm just mean about it. Yeah, seventy And on top
of that, they still do ninety percent of the household
chores another kind.
Speaker 5 (21:02):
We're going off and and but and this is why
it's important right to get around folks like us that
teach you how to make, manage and multiply money right,
because I think in our community, specifically in the black community,
we are taught that we need to work hard for money,
when the truth is money.
Speaker 1 (21:20):
Needs to work hard for us.
Speaker 5 (21:22):
And so when we get rid of that dynamic of
us working hard for money, it doesn't matter who who's
bringing in the money, because in the beginning of the relationship, yes,
if the woman's making the money, if the man's making
the money, whatever, we're gonna have to work for it.
But if you have the right system in place and
you create these assets, where now that money becomes an
(21:43):
asset and it starts making money for you, now all
all you're doing is you're managing that money together. It's
not about hey, he makes more money, no, like like
that's wrong. Actually, the right way is that the money
should be making more money than you.
Speaker 7 (22:02):
So pay you back enough of what ash you's saying.
Because we see this all the time. People think they
gotta work hard, they gotta work work, work, work, work,
just to get paid, when really we want to show
people how to work get paid, get paid, get paid,
get paid, get paid, and earn a passive income. And
I believe that it's easier if you have a if
you ten x your money than it is to just
(22:23):
double in two x your money. It's actually easier to
ten x your money. So think about this. If you
were working linear, if you're making fifty thousand and then
you're trying to grow that money to one hundred thousand, right, well,
you're gonna have to work harder. You're gonna have to
get a promotion, you're gonna have to get raises, you're
gonna have to impress a lot of people and do
the same thing and do it better. But if you're
ten x in your money, you can't do that just
(22:44):
by doing You have to do that by thinking. You
have to do that by saying who can I hire,
who can I bring in? What systems do I have
to put in place? Do I have to order acquire
another business? Do I have to get a bigger team?
What do I have to do? And when you do that,
the crazy thing about that you will make ten x more,
but you'll also work ten x lists. And that's what
we want to show people how to do, how to
(23:05):
make life.
Speaker 3 (23:06):
Indeed, do to give this a little bit of direction,
talk about the freedom score, because we're talking about all
of these different ways to make money, and I'm if
I'm listening to this, I'm hearing I'm trying to write
out and down. Okay, I'm gonna do this. I'm gonna
do this. Don't we have to full stop what am
I trying to accomplish and then build that plan to
get there. So talk about the freedom score and the
(23:26):
importance of making doing what you're saying to do to
build a plan to get there.
Speaker 8 (23:30):
Yeah, for the freedom score is how much money does
it take for you to become free? Was that free
from the nine to five? Free from that thing that's
stopping you from becoming a success. If you know you
make fifty thousand dollars a year, Now, if you take
away the fact that you probably spending this much money
on car payments, this much money on childcare, this much
money on all the things that is taking you to
go to that job, maybe it only takes you thirty
(23:52):
five thousand dollars. How do you make thirty five thousand dollars? Like,
for example, when I bought my first property and that
property was making me, I took the eight thousand and
made six thousand. I said, Okay, you mean to tell
me if I'm making six thousand a year, I just
need eight more properties. So now I knew eight thousand,
I wouldn't need that money, so I would take one
hundred dollars a month, I mean hundred dollars a week,
fifty two hundred dollars in my tax return average of
(24:14):
three thousand.
Speaker 9 (24:15):
That was only six more properties. But that was a plan,
but it.
Speaker 8 (24:19):
Actually cutting my time in half because every year I
bought a property, I left the job in five years.
So you just need to figure out how much money
you're making. What is the thing to supplement that salary?
That freedom scored now becomes that number. It only took
me this many properties, eight properties, but end up leaving
on in thirty because I learned how to partner with
(24:40):
people to make my money go further. We have to
start thinking about group economics in a different way. Stop
thinking that you have to do it yourself. If you
had twenty thousand, and you know you could buy a
hundred thousand dollar of property, you got twenty twenty twenty. Okay,
we got three one property apiece. But if we bought together,
that's three properties together. Why is that more important? Because
now we're doing taxes for three different properties. We have
(25:02):
properties across the country. That's growing equity three different times.
Now we're writing off different deductions at a different level.
We need to understand the power of the LLC's being,
power of having a home office, writing off your rent, light,
gas mortgage, taking.
Speaker 9 (25:18):
Trips to go see your properties.
Speaker 8 (25:20):
We will not start up creating LLCs until we got
something running, so we're coming out of pocket. But if
you started up the LLC and say I want to
start my business while you're not making money, you can
still write off the losses.
Speaker 5 (25:33):
And starting your LLC the right way. Right because Storm
talks about a lot. You know, your job being your
first business partner. The bank is your business partner as well.
And that's why we, you know, call this challenge the
credit to Wealth, because not only can you use your job,
but you can use other people's money to now get
into that invite show. You know your freedom score now
(25:54):
and now you know how much money you need in
order to become free.
Speaker 4 (25:58):
Now, why not set up your business the right way?
Speaker 5 (26:00):
And we talk about that on our challenge because a
lot of people set up their business the wrong way,
then they walk into a bank right and this is
this is secrets Confessions of a former banker, they set
up their banker, they set up their businesses, the walk
the wrong way. They walk into a bank and they say, hey,
I want to I want to take out this I
want to loan. The bank says, now, we can't give
you this loan. Now, all of a sudden, we have
(26:21):
this false narrative that, oh, the bank want to give us.
The banker give us a school loans and not business loans. No,
the bank the bank wants to give you a business loan,
but they want to give the business loan to the
right type of business. So you have to you have
to set up your business the right way. And if
you set up your business the right way, you can
literally walk a brand new a brand new lse could
(26:41):
walk into a bank get between ten to fifty thousand
dollars in credit, and now you could use that money.
Storm just said eight thousand dollars. It took for him
to make six thousand, right, and so now you if
you do the math and you look at fifty thousand
dollars in credit and you add that up, you're so
much much closer to that freedom score. By leveraging your
(27:03):
job as your first business partner and the bank and
using other people's money.
Speaker 7 (27:07):
The reason why people don't get started is they say, well,
I don't have the money to get stored, I don't
have the money to build my business. And on way
of Prosperity dot Com, what we're doing is credit the
Wealth Challenge because we talked to a lender not too
long ago and he said that there's literally millions of dollars,
(27:27):
like hundreds of millions of dollars that's sitting there that
they can't give away. That they want to give away
this money, but people don't know how to fill out applications.
People don't know how to fill out a simpler application,
and they said they don't fill it out the right
way or they don't feel it out at all because
they think they can't get the money. It's like, we're
literally trying to get this money away, like millions of dollars.
(27:48):
I just applied for two million dollars of funding for
my business the other day, and there are people, even
like you said, with new lellcs that can get this money.
So we got to show you how to get the money,
how to get at least two hundred thousand dollars in funding,
so that we can teach you how to actually do
the real estate, how we can teach you how to
do what asks ask, teaches how to become an author,
how to make fifteen different streats of income. But first
(28:08):
you got to get the money first. And that's what
we're starting with the foundation at wayoprosperity dot com.
Speaker 4 (28:14):
And the great thing.
Speaker 5 (28:15):
About this challenge because I know, you know, we're giving
a lot of information here, right, and I know people
are like, oh my god.
Speaker 3 (28:21):
Like it's a lot, It's a lot.
Speaker 5 (28:23):
That's why you know, we do you know, these five
day master classes where you know, if you do Platinum
or VIP, you could literally sit with us and ask
your specific question and we could tell you specifically how
to do things and then right you So so technically
that's ten hours that you can really sit and we'll
(28:44):
give you the whole game, nothing but the game, to
help you grind, you know, get to that space where
you could like start really making managing multiply money, access
to millions of dollars that banks have and just sitting
there right Because think about this for a second. It's
by design, so people don't understand the reason why. So
during COVID, the bank was printing money out right, I
(29:05):
mean the government was printing money, so the money supply
was way up pun intended right, the money the money
supply was so up, and everybody had access to money.
So now inflation went up because people are buying stuff.
So the government said, whoa hold on, We like it's
getting out of hand.
Speaker 4 (29:20):
So what are we gonna do.
Speaker 5 (29:22):
We're gonna raise interest rates to a place where we
scare people from borrowing. Right, So now the money supply
now now starts to strike. Nobody's really spending as much, right,
so what does that mean? The banks are like, like
Barbara said, the banks are sitting with this money, and
they're like, we gotta get this, get this money out.
And so it's the people who are courageous enough who
(29:44):
understand the game, who say, you know what year the
interest rates are up, but the banks are looking to
give us this money. Let me not focus on interest rate.
Let me focus on getting income producing assets, right, insurance,
real estate, you know, you know, you know, book get
let me get these income producing assets that's gonna pay
for this and then and then now you're in this
(30:05):
race and now you're building wealth past this environment. So
you know, definitely sign up for the for the five day.
Speaker 7 (30:11):
Matters and also don't forget to mention this is all virtual, yes,
so you don't have to go anywhere. Last time we
need this challenge, we had t D Jake's who.
Speaker 3 (30:19):
Is gonna say, lots of special guests, Magic Johnson.
Speaker 7 (30:24):
Shock stopped by and and of course you got Marvin Mitchell,
Ashcash is Storm Lee Roy.
Speaker 3 (30:29):
And with this time Team Wealth West, it's.
Speaker 4 (30:33):
About to be crazy.
Speaker 7 (30:34):
You're about to learn some some different plays with with
with the credit on how you can build up your
credit to we're gonna talk about that too on it,
on it, It's gonna be crazy. So the way it's
gonna work is on the if you do when you
do v I P, so v I P will actually
give you the ability to be in the room with
us and basically it's a zoom room and we're gonna
(30:56):
lay it down for you're gonna be able to have
personal questions. Uh, when you do platine, So there's going
to be platinum, there's going to be VIP or if
you just want to watch it and you want to
be a spectator, you could just be general and it's
super super inexpensive. It's like ninety seven dollars. You could
do general. We want you to do VIP or platinum,
but you can do general and you'll be able to
see everything that's going on.
Speaker 4 (31:16):
We are giving you the place.
Speaker 7 (31:17):
We're not holding anything back, right right, we're holding nothing back.
Speaker 2 (31:20):
We won't either, And that's why I like the whole
idea of partnership. And you know, back to what Storm
was saying earlier, it is important when you do partner
with people, not feeling like you have to do it alone.
But I think it's also really important that people have
different skills that they bring to the table when you
do different partnerships.
Speaker 1 (31:36):
Yeah, so we can't all do the same thing.
Speaker 2 (31:37):
So just seeing what I do, what Stacey does, and
then where you guys, do you know the different skills
and abilities that you bring to the table for people.
I think that's really important for people to understand too.
We can't all do marketing. We can't all you know, you.
Speaker 9 (31:51):
Tend to do that a lot.
Speaker 8 (31:52):
We tend to attract and want to work with people
who are like us. Yeah, you need to partner with
people who exactly other than.
Speaker 3 (31:57):
You because they can feel what you don't happen and what.
Speaker 8 (32:00):
You don't have to help the business grow, you know.
That's that's the vice president. They do the things you
don't want to do.
Speaker 10 (32:06):
No, I'm not, I'm not, I'm not, I just want to.
It just popped in my brain when I said that.
You know what I mean, that's what it is. Good,
But that just popped with my brain.
Speaker 8 (32:17):
Well, you know, staying in line with this challenge because
this is one of the most important things. We also
want to tell you guys about building a legacy within
the things we teaching. You know, we've all been teaching
how to get handle the stop. We've all been teaching
how to get how to make right. We've been we've
been observing.
Speaker 9 (32:40):
For you how to make, how to make.
Speaker 6 (32:42):
You want to learn how to be the vice. Observation
is over. It's time for execution. Observation was yesterday, Execution
is today. That's what we need to do, get into
and to build your legacy once we start thinking, uh,
stop being selfish and stuff. Oh everybody wants to go
generational wealth until you actually get money and looking at
you going what can I get?
Speaker 8 (32:58):
What can I do? But there comes a number where
you made enough for yourself. How are you going to leave
it to your legacy.
Speaker 1 (33:04):
And you don't wutch your money just sitting in a
bank either.
Speaker 2 (33:06):
Like you said, the money's got to work, and I
think we've seen that right now things that we thought
would never happen with banks collapsing and people talking about
not being able to access the money that they have
in the bank and having limits and who knows what's
going to happen.
Speaker 7 (33:19):
Savers are losing in this current economist. Like there's a
debtor or a saver or wealth creator. The debtor they're
used to just being paycheck to paycheck, being a debt,
but the saver was winning yesterday. Now the saver is
in a position where when they're spending that money, they're
not getting it back and they're not even getting enough
money off the entries from the bank to actually make
a living off of it. So you got to be
a wealth creator. You gotta make your money work for
(33:41):
you two to three times.
Speaker 3 (33:42):
Lifetime quickly, very quickly read it out. Time to quickly
take us to church on making our dollar work five times.
Speaker 7 (33:48):
Okay, I'll give you the place we talked about, the
life insurance. How you can actually put the money to
the life insurance grow it tax free and tax deferred.
The great thing about that is that when you borrow
money from their policy, you don't have to pay it back.
I want you to pay it back, but you don't
have to because if you don't, it's subtracted from your
death benefit, which means if I have one hundred thousand
dollars cash value, there's money and cash in the policy.
(34:09):
I probably got like a five hundred thousand dollars death benefit.
So if I don't pay it back, it's subtracted from
that plus interest when I die. So knowing that that
money will continue to grow. So if I know that,
I better borrow against it or else I'm If I
don't use it, I lose it. Right so I can borrow.
Let's how I have one hundred thousand, I can borrow
thirty thousand dollars. I can buy a real estate property
that Storm teaches. Right now, I'm making money off the
(34:30):
life insurance tax free. They're not taxing me on it taxifferd.
They can't suit me on it. It's credit to proof.
I don't have to get a credit score for it.
They're not reporting me if I don't.
Speaker 4 (34:39):
Pay it back.
Speaker 7 (34:40):
Now when I'm making that yeah, it's crazy. Now I'm
making money on the real estate. Right, there's two times
off the same dollar. But the biggest play what I
learned a few years ago is that if you have
credit and we're teaching you this on the challenge, you
can actually buy the property with the credit. We teach
you how to turn the credit to cash. You get
points from the credit card. Then you pay off the
(35:00):
credit card with the insurance policy. So you're making money
off the insurance policy. You got all of your points
from the credit card, and you got money from the
real estate property. Once you build up that real estate property,
you do a home equity line of credit. You get
the equity from that, you buy another property. Now you're
making money four times off the same dollar. And when
you learn about trust and when you learn how to
structure your trust and irrevocable life insurance trust, now you
(35:23):
get to deduct all of that money from your taxes.
Now you get tax savings one time. You get the
credit cards, two times, you get the insurance policy three times.
Now you got two properties. That's five times off the
same dollar. And we're teaching you all of this and
the challenge. All you have to do is go to
weigh up Prosperity dot Com and get your ticket.
Speaker 1 (35:45):
I say this is first time hearing it.
Speaker 7 (35:49):
Times. If you don't have nobody in your corner, just
turn for you no matter what you need some new friends.
Speaker 1 (35:56):
Thank you guys so much.
Speaker 2 (35:57):
It's it's a pleasure way at prosperity dot Com makes
tell you guys sign up. I'm also always still a student,
so I appreciate it.
Speaker 1 (36:04):
I have Prosperity dot Com.
Speaker 3 (36:06):
I am Prosperity dot Com June fifth through ninth. But
sign up right now. You can change your financial life
right now.
Speaker 1 (36:14):
Well
What's up. It's way up at Angela Ye.
Speaker 2 (00:05):
And it's a Wealth Wednesday, So of course my partner
Stacy Tisdale is here with me.
Speaker 3 (00:09):
Happy Wealth Wednesdays. We are taking you way up and
down the Path to Prosperity today.
Speaker 1 (00:15):
Yes, now it's good to have you guys back.
Speaker 4 (00:18):
Yes.
Speaker 2 (00:18):
So we've done Path to Prosperity previously and it was
amazing when you guys were on the Breakfast Club. But
now we're doing a way up at Angela Ye. And
we have a challenge that we're going to be doing.
But let's start talking about path to Prosperity and you
guys actually coming together to form this.
Speaker 5 (00:34):
Yeah, I mean I think for us it was it
was a diviney aligned you know, each of us had
a mission to help people make, manage and multiply money,
and we just were in different lanes and we realized
that if we came together, it'd be more powerful.
Speaker 6 (00:50):
Right.
Speaker 5 (00:50):
There's a lot of people out there that talk about
financial literacy, generational wealth, things of that nature. But all
of this is information, Like people are getting information, Uh,
but what about the application? Like how can you apply
these you know, this this information in order to like
truly create generational wealth. And so you know, I, you know,
I talk about you know, with my banking background, I
(01:13):
talk about multiple streams of income. Marvin you know, talks
about insurance and how to you know, use insurance.
Speaker 4 (01:20):
Oh man, the game as the employeed millionaire.
Speaker 5 (01:24):
So it's just it was just synergy and teaching people
how to implement these these these uh principles in order
to bill wealth.
Speaker 7 (01:32):
You know, the power of collaboration, we know this is powerful.
We both were all individually successful. What makes us different is,
as was the CEO of a credit union, I've owned
a financial firm for seventeen years, so I've been doing
this for a long time. Storm has been doing real
estate for a long time, before social media, before we
were even on social media effects, before we were getting
(01:54):
interviews before any of this. So although we were successful individually,
when we came together to help the people and we
say let's lower ourselves individually so that we can maximize
ourself as a group, the numbers that came in were
just strong. The people that we began to help, We
begin to literally help thousands and thousands of people almost overnight,
just by joining together.
Speaker 2 (02:14):
So it was anowerful I think it's important to talk
about your experience and credibility because there's a lot of
people out there who are selling classes, our quote mentors,
but they may not like what's the background, How do
they have the experience to even be able to tell
us what we need to do?
Speaker 1 (02:28):
What is their success rate looking like?
Speaker 3 (02:30):
And we've really worked with a lot of work to
bring attention to a lot of different groups, and we
really vet them closely and really partner with very very
few of them. And this is just a shout out
to what these gentlemen are and what they have accomplished
and how they've helped thousands of people build millions of
dollars with the three tiers of the path to prosperity.
(02:51):
Tell us about those three tiers for our prosperous journeys
and not crying tiers, but.
Speaker 8 (02:58):
Sometimes yeah, definitely to the background part. You know, I
started buying real estate. My first piece of real estate
was in nineteen ninety nine, so that's way before any
of the social media kick and people see us now,
so like getting the switch, but you know, it's taking
my job, working that job and understanding that the job
is actually paying us not to come back to work
(03:19):
We just don't realize that. We think the job is
paying you to keep paying bills, get charged up and
come back when they're paying you to invest in yourself.
Find that thing, put it on repeat, because it's important
to use your salary to go to the next level.
Because if the only way you can make money physically,
what happens when you can't physically do the job?
Speaker 3 (03:38):
No more so everything.
Speaker 9 (03:40):
Yeah, it starts with the.
Speaker 8 (03:41):
Belief that transforming to the mind shift that now you
can implement that thing. So the pillars of what we have,
make multiply and manage.
Speaker 3 (03:49):
That's the three pillars. Yeah, maybe multiplying man and make
multiply man.
Speaker 2 (03:54):
I want to talk about your real estate though, because
right now is of course you do. But like the economy,
people are really nervous to do anything right now. They're
nervous about the stock market, they're nervous when they're thinking
about insurance, they're nervous about real estate interest rates right now,
and just even like materials, a lot of people are
(04:14):
having issues when they try to buy a home to
flip and finding that they're actually losing money in certain situations. Right, So,
how has the real estate market been for you? Because
sometimes people think that's such a sure thing, but it's
not always a sure thing.
Speaker 8 (04:28):
I look at it as as this way, and I
like a lot of people get in the space to
think about don't think about start losing money in the beginning.
Speaker 9 (04:35):
You'll make money later.
Speaker 8 (04:36):
Not in real estate like a lot of us be like, oh,
I'm going to buy this property, I'm going to flip it,
I'm going to find a tenant. Well, you're losing money
in the process. I look at buying properties that are
tenant occupied already, that are company's making money, Like, look
at that as a company.
Speaker 9 (04:51):
So if you know you're.
Speaker 8 (04:51):
Buying a property and it costs one amount, let's say
one hundred thousand dollars, and you know the rent's going
to cover that mortgage.
Speaker 9 (04:58):
You're buying a business.
Speaker 8 (04:59):
If they never was late on making a payment for
two years, why would they stop paying rent. You're buying
a business. Now, just get someone to manage the business,
and you just go around and do what buy more
businesses and you can do this across the entire United
States and still maintain working. Why are you're buying more businesses?
So when you're able to buy at a price now
(05:19):
and you know the numbers work. Look at when the
interest rates goes down, and now you can refin, it's
going to be even a better deal. And if it's
so much of a chaotic situation now in real estate,
why is there's still so many shortage of houses? Why
is there still so many people buying, why there's still
in So it's portrayed to.
Speaker 9 (05:38):
Us housing is bad, stocks are bad.
Speaker 8 (05:40):
Everything is bad when the underlying story to me when
I hear these things are oh, you mean it's on sell?
Speaker 5 (05:45):
And so think about this though, right, So Storm started
investing in real estate in ninety nine with eight eight
thousand dollars, became a multi millionaire while working at Horizon.
Let's not let's not go by that. And he's still
investing in real estate. While eight two thousand and one happened,
two thousand and eight happened, two thousand and nine happened,
the pandemic happens. So the good thing about the way
(06:09):
he invests in real estate is the fact that he's
investing in real estate.
Speaker 4 (06:13):
And he teaches this on our challenge as well.
Speaker 5 (06:15):
He's invested in real estate with income producing properties already,
So it's good, Like if you want to do fix
and flip, that's cool. If you want to do wholesaling,
that's cool. But let's there's a specific niche of properties
that you can buy that already, like you already know
going in is going to make you money, right and
for me, you know, you know, I started my career
(06:36):
as a banker in nineteen ninety nine actually as well, right,
I was a tell personal banker, private banker, and a
lot of things. I realized that people focus a lot
on is interest rate, Like, oh my god, the interest
rates are high, right, But here's the secret. The secret
is banks have to lend money. I don't care what
the interest rates are. That is the way that banks
make money without so I don't care what the economy
(06:59):
is doing. They are going to to you know, you know,
lend money. And so what we've been doing is teaching
people how do you take that credit and how do
you create wealth from that credit? Right, So think about
this real quick. Conceptually, if you go to a bank,
the bank has to lend this money out. The bank
has to give you this money, and you get this
money and whatever the interest rate is, if you follow
(07:19):
the methodology that Storm does, where you're buying income producing
properties anyway, Technically it really doesn't matter what the interest
rate is because your tenant is paying is paying for
that interest, right and then and you're taking that money
and you're not You're not you know, uh, you know,
buying clothes with it. You're not doing nothing that's risky
with it. You're you're actually getting into a business that's
(07:42):
already cash on. So before you even sign on the
dotted light line to take out that credit, you know
how much, how much your your note's gonna be. You
know how much money you're gonna get. And then once
you do that, you go to Marvin, and Marvin teach
you how to.
Speaker 3 (07:59):
Second, first of all, you've made the point there. If
you are if you're buying something that has a tenant
in it, does that make it.
Speaker 1 (08:07):
Easier to get?
Speaker 3 (08:09):
Makes it easier to get?
Speaker 8 (08:11):
You look at buying properties that For example, I love
to buy government programs houses that are government funded meeting
Section eight VA housing because the government's never laid on rent.
When I was buying Section eight properties years ago, they
was looking at me like a mad man. Why you
buy Section eight properties? COVID hit guess what government wasn't
(08:31):
laid on my rent. Everybody has stories, and I said,
this is why. And you know Section eight in certain
areas of the country are very nice homes.
Speaker 9 (08:38):
People just need a little help.
Speaker 8 (08:40):
So I look at buying those properties because they were
making money and the government was coming through.
Speaker 2 (08:44):
Now, Marvin, let's see how what does insurance have to
do with all of this.
Speaker 1 (08:47):
And how can that help fund?
Speaker 7 (08:49):
Thank you. So we got to talk about this because
this is this is dema most critical thing when it
comes to financial plan So Staycey and Angela. The reason
why I talk about this is that our system is
feeling us is So I've been a financial advisor for
(09:09):
seventeen years. Again, like when I started in this particular business.
I got into this business because my grandmother. See my grandmother,
she she saved, She worked for a company for thirty
five years, saved in her four h one k. Did
everything that we're taught for the average person to do.
But she was afraid that she was going to become
a burden on a family toward the end of her life.
(09:32):
And that's exactly what happened because before she passed away
with cancer, unfortunately the stock market crash, she lost fifty
percent of her money. She had no long term care insurance,
and I watched my grandmother run out of money and
feel that she was that burdenard on the family. So
I said, I can't let that happen to anybody. So
(09:52):
I came into the financial industry at a big Wall
Street firm, thinking that I was going to be the
one to make a difference. And then I realized that
the industry cared more about lining up their own dollars
than they cared about actually making sure that the people
got what they needed and got what they wanted. That's
why people are following the system rules, saving in their
four to one K working for a company, retiring in
(10:14):
sixty five, living off of less than they earned when
they were working, and they're.
Speaker 4 (10:18):
Still running out of money.
Speaker 7 (10:19):
There was a statistic that I just read about New
York Times that said people making over six figures, forty
eight percent of people making over six figures are still
living paycheck to paycheck and percent of running out of
money before they retired. So I was like, I got
to do something different, So I left the big Wall
Street firm and I started my financial firm with the
emphasis on making sure that that solution is done. So
(10:42):
what I came across is that wealthy people were not
doing the same thing that ordinary people were doing. They
were not saving in four one k's paying off their
house early. What they were doing is they were leveraging.
They were learning how to use tools such as life insurance.
They were having this policy. They all had these policies.
Speaker 3 (11:00):
Till like VUL policies because those are expensive.
Speaker 7 (11:03):
Great question. No, no, not VUL. So there's different types
of policies. You got the VUL by the.
Speaker 3 (11:09):
Way, everybody that's variable universal life. They're really cool because
when you put money in it, it kind of grows
in the stock market and you can borrow against that.
But they're a little pricey.
Speaker 7 (11:18):
What the problem is is that it's in the stock market.
So it's a variable universal life, which means it varies,
which means, just like the four oh one k, you
can make money and you can lose money very expensive fees.
And you also have term life, which a lot of
people know about. Problem with term life is for a
term which means ten years, twenty years, it expires, then
what you have no more life insurance. Term is okay
(11:41):
when you're super super young and you're early in the game.
Problem is is that maybe you got to get approved again.
What if your health goes bad, you don't have life insurance.
So permanent policies vul is one that I don't recommend,
but also the two that I do recommend will be
Whole Life or Index Universal Life. But it has to
be properly stressure the right way. Because of not you're
(12:01):
still paying the expensive fees and you're not building up
a cash value. So when you're building up this cash value,
Whole Life is going to allow you to get a
fixed rate of return and borrow against it within thirty
days and your money continues to grow as if you
never touched it. Index Universal Life is going to allow
you to grow it faster because you can actually earn
up to ten or twelve percent per year, but you
(12:24):
can't borrow against it as fast. So you have to
pick your poison on what you want to do. And
the rich people what they used to do. They dump
money into these policies, they borrowed against it, then a
policy continued to grow as if they never touched it,
so they were making money off the same dollar multiple times.
Speaker 2 (12:40):
Yeah, we had a great conversation about this off the record,
about what I need to do. He's gonna take a
look at my insurance.
Speaker 3 (12:46):
Isn't it exciting?
Speaker 2 (12:47):
Though?
Speaker 3 (12:47):
You're going to actually teach people how to do this
on the way up Prosperity dot Com challenge. Everybody just
sign up for that way of Prosperity dot Com the challenge.
Speaker 4 (12:55):
You're going to be amazed.
Speaker 3 (12:56):
You're gonna teach people how to do that.
Speaker 2 (12:58):
Now, I want to ask you guys some some things
that have been happening on the eet okay. For instance,
people were weighing in on Gabrielle Union and doing waiting.
Speaker 1 (13:08):
I'm sure you saw this story.
Speaker 2 (13:10):
Ye where she said this going there she pays fifty
percent of the bills and people were furious, like Dwayne
Way's made two hundred million dollars and why are you
doing that? And she's like, look, this is what works
in my household. They have other families on both ends
who they that they take care of. Of course he's
offered to handle everything. What are your thoughts on fifty
to fifty in the household?
Speaker 3 (13:31):
The mindset?
Speaker 5 (13:35):
We talked about this, So I'll go first because because
because I don't believe in that I believe in and
once to come look I believe in one income household.
Speaker 4 (13:44):
I believe that the man should take care of everything.
Speaker 3 (13:47):
We're gonna fight, Yeah, I believe in that.
Speaker 5 (13:49):
But but I also believe that financially, the family should
be on the same age where collectively, uh, there should
be financial goals and the money that's coming into the
household should be feeding the financial goals.
Speaker 4 (14:02):
Right.
Speaker 5 (14:03):
So, if the man is taking care of everything and
the money and there's still money coming into the household,
doesn't mean that the woman. If the woman makes money,
that you know, she could do whatever she wants with
the money. It's it's like, now the rest of that money,
let's invest it. Let's kind of come together and figure
out how we're gonna grow, right, how we're gonna make
make more money, how we're gonna manage that money, how
we're gonna multiply that money. And then that's how you know,
(14:25):
we we stay on the same page as it relates
to finances. I think that you know women again, though.
Speaker 4 (14:32):
But I don't.
Speaker 5 (14:33):
I think if women don't have to work, if they
don't want to in a in a committed, committed relationship.
Speaker 3 (14:39):
Keep this in mind and your answers and you're thinking
a good friend of ours, Cassandra Cummings, who's had the
stocks instill let Us Society, we had this whole conversation,
she pointed out, and I can tell you a financially
independent woman can conduct themselves differently in a relationship. There
when you take that financial piece out, the relationship is
(15:00):
completely different. Agree, And that's it's a freedom, it's a
healthier relationship. And I'll just keep that in mind.
Speaker 2 (15:07):
And let's just say she's not working, right and you're
in like you said, she doesn't have to Does that
mean she's entitled to half if things shouldn't work out?
Speaker 5 (15:14):
Yeah, And so that's the thing, right, So I don't
think she I don't think that she should be entitled
to half if she if if she right, if she's
not contributing to uh the total uh improvement of that household.
Speaker 6 (15:27):
Right.
Speaker 5 (15:27):
So it's so it's it's like this, right, It's like
if if if the guy is bringing in all of
the income, let's just say, for instance, and she doesn't work,
but she's taking care of the kid like she's she's contributing,
you know, a lot to the stability of that household,
then absolutely she should get half. Right, Okay, if if if,
if there's another arrangement where she's working, or whatever the
(15:48):
case may be. I just think it's all individual. But
again I think that there should be a collective collectively,
they should be working together. So it's not like I
make all the money so I have the power. No,
I you know, I'm working and I'm taking care of everything.
But that's something that we agreed on. That's something that
as a couple, we said, all right, this is what
(16:10):
we're gonna do. We're gonna rely on this on this
one income to take care of the basic necessities, and
now all of the other things. Now we come together
and figure out how do we make those flourished.
Speaker 9 (16:22):
As a couple's cue. That's cue.
Speaker 7 (16:28):
I do believe in the man being the provider in
the household, and I do believe that the man, in
my opinion, should, especially in a married relationship. Looking at me,
consume got a different opinion about this. So so I
do believe that. But I also feel like whatever you should,
you should I a man, you should get with a
woman that takes whatever you contribute to it to multiply.
(16:52):
If all she's doing is just taking the money and
just consuming, consuming, consuming and I'm just basically paying you
an allowance. Then they can actually be sometimes a little
bit of a burden. Right, But if I'm giving, but
if I'm given, let's say I'm giving you ten twenty thousand,
but you're taking some of their money and you starting
something to side. Maybe you invested in some real estate,
like if we don't ever work out, take the money
(17:12):
to make sure you made yourself better off. Then before
you got into the relations.
Speaker 2 (17:16):
Are you're giving the money or is it a big
account that we have access to ulso.
Speaker 7 (17:19):
So three different accounts, right, So I believe that you
should have your own account, but then a shared account,
right because if you're buying me something for Christmas, I
don't want to have to see it coming out of
the account. But we got everything together. You got to
have some some sort of independence. But at the same time,
it's just going to be better for you if you
learn how to manage your own account and then we
got our account together to share it responsibility.
Speaker 3 (17:41):
It's again, it's different. I remember I think it was
Wendy Williams asked her audience. The women in her audience,
if they each got five million dollars, would they stay
in their marriage.
Speaker 4 (17:50):
Oh that's a good question, and like.
Speaker 3 (17:52):
None of them would. It was like none of them.
A lot of people stay. That's what Cassandra's talking about.
If you take money out of the equation, you have
a relationship, but standing on its own.
Speaker 5 (18:05):
When the man is using the money as a control mechanism.
And that's not what I'm saying.
Speaker 3 (18:11):
It's not about control, but not not intentionally. But if
someone's paying the bills, they do have an element of control.
You are you are not controlled that we don't talk
about control. You are dependent on them, but in a
way you could develop them. We are going so off track.
Speaker 1 (18:27):
What makes more than you?
Speaker 2 (18:29):
Right?
Speaker 5 (18:29):
And and that's the thing, right, So I'm saying that
it goes into this.
Speaker 7 (18:35):
Okay, Storm, start a second before Storm goes to say that, yes,
you some before we get too far off the track.
We're gonna get to this. We got to tell you
all that we are about to show you how to make,
multiply and manage your money. All right, Storm, Prosperity dot Com.
Speaker 3 (18:56):
You gotta go there way whatever, Storm, because you're.
Speaker 8 (19:01):
This isn't the nineteen sixties, nineteen seventies, when one person
can manage a household where he can go to work,
she can stay home raise all the children.
Speaker 9 (19:10):
Now, this is for people don't have a lot of money.
Speaker 4 (19:12):
You need for me.
Speaker 8 (19:13):
You need to know who you're investing in as a
person and what do they bring it to the table.
Are you trying to grow together or she's staying home
while you build something. But to inherit another person, which
to me, if they don't have anything going on, you're
inheriting debt. You need to inherit an understanding. You need
to inherit someone who's willing to build with you and
(19:34):
not take away from you, and not who's willing to
sit there and say you go do do everything, and
if something falls apart, I'm going to leave because you
made me relying on what you were doing right, so
if you didn't ask the important questions. This is for
guys who are not making a lot of money. We
tend to get caught up in the fact that she
looks so pretty that my obligation is to do. But
(19:55):
when you start doing and you can't do anymore, will
she be there because you came in doing. Now, for
men that have money, I believe a man who's had money,
he has other situations. He may have an ex wife,
he may have children, he might have alimony. If she
has money, she should say to herself, what are we
doing as a group? And never it's too much love
(20:16):
and not enough business. That equates a better loving. So
when you put the business aspect in front, now you're
able to build. I want somebody who could say me
and you will take a business and in business and
build a corporation. Somebody has to be the president. Somebody
got to be the vice president. And long as she
knows her role as vice president, because there's certain things
as a president I can't do. Yeah, okay, let me
(20:39):
let me implement just a little bit more, because I
don't want that to sound too misogynistic.
Speaker 3 (20:43):
I'm not challenging you. What I'm just saying. The reality
is that seventy percent of all the households in the
United States, women are the primary breadwinners. Now, yes, and
I'm just mean about it. Yeah, seventy And on top
of that, they still do ninety percent of the household
chores another kind.
Speaker 5 (21:02):
We're going off and and but and this is why
it's important right to get around folks like us that
teach you how to make, manage and multiply money right,
because I think in our community, specifically in the black community,
we are taught that we need to work hard for money,
when the truth is money.
Speaker 1 (21:20):
Needs to work hard for us.
Speaker 5 (21:22):
And so when we get rid of that dynamic of
us working hard for money, it doesn't matter who who's
bringing in the money, because in the beginning of the relationship, yes,
if the woman's making the money, if the man's making
the money, whatever, we're gonna have to work for it.
But if you have the right system in place and
you create these assets, where now that money becomes an
(21:43):
asset and it starts making money for you, now all
all you're doing is you're managing that money together. It's
not about hey, he makes more money, no, like like
that's wrong. Actually, the right way is that the money
should be making more money than you.
Speaker 7 (22:02):
So pay you back enough of what ash you's saying.
Because we see this all the time. People think they
gotta work hard, they gotta work work, work, work, work,
just to get paid, when really we want to show
people how to work get paid, get paid, get paid,
get paid, get paid, and earn a passive income. And
I believe that it's easier if you have a if
you ten x your money than it is to just
(22:23):
double in two x your money. It's actually easier to
ten x your money. So think about this. If you
were working linear, if you're making fifty thousand and then
you're trying to grow that money to one hundred thousand, right, well,
you're gonna have to work harder. You're gonna have to
get a promotion, you're gonna have to get raises, you're
gonna have to impress a lot of people and do
the same thing and do it better. But if you're
ten x in your money, you can't do that just
(22:44):
by doing You have to do that by thinking. You
have to do that by saying who can I hire,
who can I bring in? What systems do I have
to put in place? Do I have to order acquire
another business? Do I have to get a bigger team?
What do I have to do? And when you do that,
the crazy thing about that you will make ten x more,
but you'll also work ten x lists. And that's what
we want to show people how to do, how to
(23:05):
make life.
Speaker 3 (23:06):
Indeed, do to give this a little bit of direction,
talk about the freedom score, because we're talking about all
of these different ways to make money, and I'm if
I'm listening to this, I'm hearing I'm trying to write
out and down. Okay, I'm gonna do this. I'm gonna
do this. Don't we have to full stop what am
I trying to accomplish and then build that plan to
get there. So talk about the freedom score and the
(23:26):
importance of making doing what you're saying to do to
build a plan to get there.
Speaker 8 (23:30):
Yeah, for the freedom score is how much money does
it take for you to become free? Was that free
from the nine to five? Free from that thing that's
stopping you from becoming a success. If you know you
make fifty thousand dollars a year, Now, if you take
away the fact that you probably spending this much money
on car payments, this much money on childcare, this much
money on all the things that is taking you to
go to that job, maybe it only takes you thirty
(23:52):
five thousand dollars. How do you make thirty five thousand dollars? Like,
for example, when I bought my first property and that
property was making me, I took the eight thousand and
made six thousand. I said, Okay, you mean to tell
me if I'm making six thousand a year, I just
need eight more properties. So now I knew eight thousand,
I wouldn't need that money, so I would take one
hundred dollars a month, I mean hundred dollars a week,
fifty two hundred dollars in my tax return average of
(24:14):
three thousand.
Speaker 9 (24:15):
That was only six more properties. But that was a plan,
but it.
Speaker 8 (24:19):
Actually cutting my time in half because every year I
bought a property, I left the job in five years.
So you just need to figure out how much money
you're making. What is the thing to supplement that salary?
That freedom scored now becomes that number. It only took
me this many properties, eight properties, but end up leaving
on in thirty because I learned how to partner with
(24:40):
people to make my money go further. We have to
start thinking about group economics in a different way. Stop
thinking that you have to do it yourself. If you
had twenty thousand, and you know you could buy a
hundred thousand dollar of property, you got twenty twenty twenty. Okay,
we got three one property apiece. But if we bought together,
that's three properties together. Why is that more important? Because
now we're doing taxes for three different properties. We have
(25:02):
properties across the country. That's growing equity three different times.
Now we're writing off different deductions at a different level.
We need to understand the power of the LLC's being,
power of having a home office, writing off your rent, light,
gas mortgage, taking.
Speaker 9 (25:18):
Trips to go see your properties.
Speaker 8 (25:20):
We will not start up creating LLCs until we got
something running, so we're coming out of pocket. But if
you started up the LLC and say I want to
start my business while you're not making money, you can
still write off the losses.
Speaker 5 (25:33):
And starting your LLC the right way. Right because Storm
talks about a lot. You know, your job being your
first business partner. The bank is your business partner as well.
And that's why we, you know, call this challenge the
credit to Wealth, because not only can you use your job,
but you can use other people's money to now get
into that invite show. You know your freedom score now
(25:54):
and now you know how much money you need in
order to become free.
Speaker 4 (25:58):
Now, why not set up your business the right way?
Speaker 5 (26:00):
And we talk about that on our challenge because a
lot of people set up their business the wrong way,
then they walk into a bank right and this is
this is secrets Confessions of a former banker, they set
up their banker, they set up their businesses, the walk
the wrong way. They walk into a bank and they say, hey,
I want to I want to take out this I
want to loan. The bank says, now, we can't give
you this loan. Now, all of a sudden, we have
(26:21):
this false narrative that, oh, the bank want to give us.
The banker give us a school loans and not business loans. No,
the bank the bank wants to give you a business loan,
but they want to give the business loan to the
right type of business. So you have to you have
to set up your business the right way. And if
you set up your business the right way, you can
literally walk a brand new a brand new lse could
(26:41):
walk into a bank get between ten to fifty thousand
dollars in credit, and now you could use that money.
Storm just said eight thousand dollars. It took for him
to make six thousand, right, and so now you if
you do the math and you look at fifty thousand
dollars in credit and you add that up, you're so
much much closer to that freedom score. By leveraging your
(27:03):
job as your first business partner and the bank and
using other people's money.
Speaker 7 (27:07):
The reason why people don't get started is they say, well,
I don't have the money to get stored, I don't
have the money to build my business. And on way
of Prosperity dot Com, what we're doing is credit the
Wealth Challenge because we talked to a lender not too
long ago and he said that there's literally millions of dollars,
(27:27):
like hundreds of millions of dollars that's sitting there that
they can't give away. That they want to give away
this money, but people don't know how to fill out applications.
People don't know how to fill out a simpler application,
and they said they don't fill it out the right
way or they don't feel it out at all because
they think they can't get the money. It's like, we're
literally trying to get this money away, like millions of dollars.
(27:48):
I just applied for two million dollars of funding for
my business the other day, and there are people, even
like you said, with new lellcs that can get this money.
So we got to show you how to get the money,
how to get at least two hundred thousand dollars in funding,
so that we can teach you how to actually do
the real estate, how we can teach you how to
do what asks ask, teaches how to become an author,
how to make fifteen different streats of income. But first
(28:08):
you got to get the money first. And that's what
we're starting with the foundation at wayoprosperity dot com.
Speaker 4 (28:14):
And the great thing.
Speaker 5 (28:15):
About this challenge because I know, you know, we're giving
a lot of information here, right, and I know people
are like, oh my god.
Speaker 3 (28:21):
Like it's a lot, It's a lot.
Speaker 5 (28:23):
That's why you know, we do you know, these five
day master classes where you know, if you do Platinum
or VIP, you could literally sit with us and ask
your specific question and we could tell you specifically how
to do things and then right you So so technically
that's ten hours that you can really sit and we'll
(28:44):
give you the whole game, nothing but the game, to
help you grind, you know, get to that space where
you could like start really making managing multiply money, access
to millions of dollars that banks have and just sitting
there right Because think about this for a second. It's
by design, so people don't understand the reason why. So
during COVID, the bank was printing money out right, I
(29:05):
mean the government was printing money, so the money supply
was way up pun intended right, the money the money
supply was so up, and everybody had access to money.
So now inflation went up because people are buying stuff.
So the government said, whoa hold on, We like it's
getting out of hand.
Speaker 4 (29:20):
So what are we gonna do.
Speaker 5 (29:22):
We're gonna raise interest rates to a place where we
scare people from borrowing. Right, So now the money supply
now now starts to strike. Nobody's really spending as much, right,
so what does that mean? The banks are like, like
Barbara said, the banks are sitting with this money, and
they're like, we gotta get this, get this money out.
And so it's the people who are courageous enough who
(29:44):
understand the game, who say, you know what year the
interest rates are up, but the banks are looking to
give us this money. Let me not focus on interest rate.
Let me focus on getting income producing assets, right, insurance,
real estate, you know, you know, you know, book get
let me get these income producing assets that's gonna pay
for this and then and then now you're in this
(30:05):
race and now you're building wealth past this environment. So
you know, definitely sign up for the for the five day.
Speaker 7 (30:11):
Matters and also don't forget to mention this is all virtual, yes,
so you don't have to go anywhere. Last time we
need this challenge, we had t D Jake's who.
Speaker 3 (30:19):
Is gonna say, lots of special guests, Magic Johnson.
Speaker 7 (30:24):
Shock stopped by and and of course you got Marvin Mitchell,
Ashcash is Storm Lee Roy.
Speaker 3 (30:29):
And with this time Team Wealth West, it's.
Speaker 4 (30:33):
About to be crazy.
Speaker 7 (30:34):
You're about to learn some some different plays with with
with the credit on how you can build up your
credit to we're gonna talk about that too on it,
on it, It's gonna be crazy. So the way it's
gonna work is on the if you do when you
do v I P, so v I P will actually
give you the ability to be in the room with
us and basically it's a zoom room and we're gonna
(30:56):
lay it down for you're gonna be able to have
personal questions. Uh, when you do platine, So there's going
to be platinum, there's going to be VIP or if
you just want to watch it and you want to
be a spectator, you could just be general and it's
super super inexpensive. It's like ninety seven dollars. You could
do general. We want you to do VIP or platinum,
but you can do general and you'll be able to
see everything that's going on.
Speaker 4 (31:16):
We are giving you the place.
Speaker 7 (31:17):
We're not holding anything back, right right, we're holding nothing back.
Speaker 2 (31:20):
We won't either, And that's why I like the whole
idea of partnership. And you know, back to what Storm
was saying earlier, it is important when you do partner
with people, not feeling like you have to do it alone.
But I think it's also really important that people have
different skills that they bring to the table when you
do different partnerships.
Speaker 1 (31:36):
Yeah, so we can't all do the same thing.
Speaker 2 (31:37):
So just seeing what I do, what Stacey does, and
then where you guys, do you know the different skills
and abilities that you bring to the table for people.
I think that's really important for people to understand too.
We can't all do marketing. We can't all you know, you.
Speaker 9 (31:51):
Tend to do that a lot.
Speaker 8 (31:52):
We tend to attract and want to work with people
who are like us. Yeah, you need to partner with
people who exactly other than.
Speaker 3 (31:57):
You because they can feel what you don't happen and what.
Speaker 8 (32:00):
You don't have to help the business grow, you know.
That's that's the vice president. They do the things you
don't want to do.
Speaker 10 (32:06):
No, I'm not, I'm not, I'm not, I just want to.
It just popped in my brain when I said that.
You know what I mean, that's what it is. Good,
But that just popped with my brain.
Speaker 8 (32:17):
Well, you know, staying in line with this challenge because
this is one of the most important things. We also
want to tell you guys about building a legacy within
the things we teaching. You know, we've all been teaching
how to get handle the stop. We've all been teaching
how to get how to make right. We've been we've
been observing.
Speaker 9 (32:40):
For you how to make, how to make.
Speaker 6 (32:42):
You want to learn how to be the vice. Observation
is over. It's time for execution. Observation was yesterday, Execution
is today. That's what we need to do, get into
and to build your legacy once we start thinking, uh,
stop being selfish and stuff. Oh everybody wants to go
generational wealth until you actually get money and looking at
you going what can I get?
Speaker 8 (32:58):
What can I do? But there comes a number where
you made enough for yourself. How are you going to leave
it to your legacy.
Speaker 1 (33:04):
And you don't wutch your money just sitting in a
bank either.
Speaker 2 (33:06):
Like you said, the money's got to work, and I
think we've seen that right now things that we thought
would never happen with banks collapsing and people talking about
not being able to access the money that they have
in the bank and having limits and who knows what's
going to happen.
Speaker 7 (33:19):
Savers are losing in this current economist. Like there's a
debtor or a saver or wealth creator. The debtor they're
used to just being paycheck to paycheck, being a debt,
but the saver was winning yesterday. Now the saver is
in a position where when they're spending that money, they're
not getting it back and they're not even getting enough
money off the entries from the bank to actually make
a living off of it. So you got to be
a wealth creator. You gotta make your money work for
(33:41):
you two to three times.
Speaker 3 (33:42):
Lifetime quickly, very quickly read it out. Time to quickly
take us to church on making our dollar work five times.
Speaker 7 (33:48):
Okay, I'll give you the place we talked about, the
life insurance. How you can actually put the money to
the life insurance grow it tax free and tax deferred.
The great thing about that is that when you borrow
money from their policy, you don't have to pay it back.
I want you to pay it back, but you don't
have to because if you don't, it's subtracted from your
death benefit, which means if I have one hundred thousand
dollars cash value, there's money and cash in the policy.
(34:09):
I probably got like a five hundred thousand dollars death benefit.
So if I don't pay it back, it's subtracted from
that plus interest when I die. So knowing that that
money will continue to grow. So if I know that,
I better borrow against it or else I'm If I
don't use it, I lose it. Right so I can borrow.
Let's how I have one hundred thousand, I can borrow
thirty thousand dollars. I can buy a real estate property
that Storm teaches. Right now, I'm making money off the
(34:30):
life insurance tax free. They're not taxing me on it taxifferd.
They can't suit me on it. It's credit to proof.
I don't have to get a credit score for it.
They're not reporting me if I don't.
Speaker 4 (34:39):
Pay it back.
Speaker 7 (34:40):
Now when I'm making that yeah, it's crazy. Now I'm
making money on the real estate. Right, there's two times
off the same dollar. But the biggest play what I
learned a few years ago is that if you have
credit and we're teaching you this on the challenge, you
can actually buy the property with the credit. We teach
you how to turn the credit to cash. You get
points from the credit card. Then you pay off the
(35:00):
credit card with the insurance policy. So you're making money
off the insurance policy. You got all of your points
from the credit card, and you got money from the
real estate property. Once you build up that real estate property,
you do a home equity line of credit. You get
the equity from that, you buy another property. Now you're
making money four times off the same dollar. And when
you learn about trust and when you learn how to
structure your trust and irrevocable life insurance trust, now you
(35:23):
get to deduct all of that money from your taxes.
Now you get tax savings one time. You get the
credit cards, two times, you get the insurance policy three times.
Now you got two properties. That's five times off the
same dollar. And we're teaching you all of this and
the challenge. All you have to do is go to
weigh up Prosperity dot Com and get your ticket.
Speaker 1 (35:45):
I say this is first time hearing it.
Speaker 7 (35:49):
Times. If you don't have nobody in your corner, just
turn for you no matter what you need some new friends.
Speaker 1 (35:56):
Thank you guys so much.
Speaker 2 (35:57):
It's it's a pleasure way at prosperity dot Com makes
tell you guys sign up. I'm also always still a student,
so I appreciate it.
Speaker 1 (36:04):
I have Prosperity dot Com.
Speaker 3 (36:06):
I am Prosperity dot Com June fifth through ninth. But
sign up right now. You can change your financial life
right now.
Speaker 1 (36:14):
Well
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Host
Angela Yee
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