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December 10, 2024 72 mins

In this episode of The Unleashed Life, Dr. Renée Baker sits down with Cedric Nash, renowned entrepreneur, wealth coach, and founder of the Black Wealth Summit, to discuss what it truly takes to break barriers and build generational wealth. From his personal journey of being mentored by millionaires to becoming a mentor himself, Cedric shares the transformative lessons and actionable insights that led him to financial success—and how he’s using his platform to empower others to do the same.

Together, they dive into the power of mentorship, the mindset shifts essential for wealth-building, and the importance of creating intentional communities for growth. Cedric introduces the Black Wealth Growth Challenge as a tool to measure progress and accountability, highlighting that wealth is not just about numbers but about cultivating the right habits, education, and environment. Through this conversation, Cedric emphasizes that it’s never too late to begin your journey—whether it’s learning the 4% rule for retirement or leveraging real estate to build assets.

Takeaways

  • Mentorship plays a crucial role in shaping one's financial mindset and decisions.

  • Creating a supportive community is vital for personal and financial growth.

  • Measuring wealth growth is essential for accountability and progress.

  • Mindset shifts take time, but they can happen alongside wealth building.

  • The racial wealth gap cannot be closed without a collective effort from the community.

  • The 4% rule helps determine retirement savings needs.

  • Living frugally is essential for achieving financial goals.

  • Generational wealth is about passing down the right mindset and education.

  • Investing in quality stocks can lead to long-term financial success.

Sound Bites

  • "Fear will either paralyze you or propel you."

  • "You have to find that crew of believers."

  • "You either win or you learn."

  • "You can't shift it by reading a book."

  • "We need to accumulate assets."

  • "It's about the mindset and the education."

  • "Invest a piece of every paycheck."

Chapters

  • 00:00 Introduction to the Unleashed Life Podcast

  • 01:16 Cedric Nash: The Millionaire Mentor

  • 03:15 The Impact of Mentorship on Wealth Building

  • 12:15 Entrepreneurship: A Journey of Courage and Risk

  • 25:31 Creating the Black Wealth Summit

  • 30:17 The Black Wealth Growth Challenge: Measuring Success

  • 36:30 Transforming Mindsets for Wealth Building

  • 39:10 The Importance of Investing in Assets

  • 41:27 Starting Your Wealth Journey at Any Age

  • 44:21 Exploring Real Estate Investment Opportunities

  • 46:43 The Power of Wealth Literacy

  • 49:00 Understanding the 4% Rule for Retirement

  • 52:17 Taking Action Towards Financial Independence

  • 54:27 The Role of Giving Back in Wealth Building

  • 57:19 Defining Wealth and Generational Wealth

  • 01:00:59 Practical Steps to Achieve Financial Independence

About Cedric Nash

Cedric Nash, widely known as “Your Millionaire Mentor,” is a visionary entrepreneur, investor, and wealth coach dedicated to empowering the African American community to achieve financial independence. As the founder of The Black Wealth Summit, a 501(c)(3) organization, and author of Why Should White Guys Have All the Wealth? How You Can Become a Millionaire Starting from the Bottom and The Millionaire Money Moves Supplemental Investment Guide, Nash has become a leading advocate for wealth-building through education, inspiration, and actionable strategies.

Under his leadership, his company has grown into a nationally recognized enterprise IT firm, achieving combined revenues of $90 million and employing over 300 professionals. His Millionaire Money Moves framework offers a proven path to wealth, not as a “get-rich-quick” scheme but as a sustainable, generational wealth-building strategy.

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