April 22, 2025 • 39 mins
Midlife career change, financial freedom after 50, and retirement planning in today’s economy—this episode of Timeless & Unfiltered is your survival guide to thriving in midlife. Whether you're in your 40s, 50s, or beyond, it’s time to pivot, rebuild, and secure the bag! 💼🔥
🎙️ Timeless & Unfiltered Podcast | Episode 11
Feeling the pressure of inflation, job insecurity, or a late start to retirement savings? You’re not alone—and you’re NOT too late. This week, we dive deep into the best strategies for financial security after 40, including how to start over, build wealth, and create new income streams in uncertain times.
We’re talking:
🔄 How to pivot your career or start a business in midlife
💼 High-impact side hustles and digital business ideas
🧠 Money mindset shifts for long-term success for Gen X and Boomers
🔥 Real stories. Real strategy. Real talk for midlife bosses.
👑 This is your season to rise. Don’t just survive—thrive.
Midlife isn’t the end. It’s the upgrade.
👇 DROP A COMMENT 👇
What’s one way you’re pivoting to secure your future in this economy?
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The days of retiring from a company.
Speaker 2 (00:03):
I don't want to say it's long gone but it is, it is,
but we got to retire.
But it is it really?
Speaker 3 (00:09):
is, my mom didn't have a lot, but she had a lot,
and so I learned from a realearly age with her it really
doesn't matter how much moneyyou have, it's really what you
do with it.
I really don't know how she didit.
She always made something outof nothing and I mean, that's a
(00:29):
slang language that we say allthe time, but like truthfully
she did this is legra, this isstephanie, this is shere and
this is Evania.
Speaker 2 (00:55):
And this is Timeless and Unfiltered, where we are
spilling the tea on midlife, onelaugh at a time.
This is Timeless and Unfiltered.
You guys Keeping it real.
This is.
Speaker 4 (01:03):
Stephanie, this is Cherie.
Speaker 2 (01:04):
This is.
Speaker 4 (01:04):
Stephanie.
This is Sharice.
This is Evanya.
Speaker 2 (01:06):
And we got Stephanie over here putting her boobs in
people's ears.
I don't know what we doing.
Speaker 4 (01:11):
Not just people, not everybody.
You're going to get a titty.
You get a titty.
Speaker 2 (01:17):
You get a titty.
Speaker 4 (01:19):
You hear me now.
Y'all so crazy.
Speaker 2 (01:20):
Y'all so crazy.
Speaker 4 (01:27):
We crazy, y'all so crazy, we gonna spill the tea on
midlife, one last.
Speaker 1 (01:28):
That's how I gotta ring them back in, y'all, let me
.
Speaker 2 (01:29):
Let me throw something out there, ring them
back in, bring back theconversation before we start yes
, oh, if y'all can really hearhalf the conversations we have
to try to make sure we haveconversations that we can air,
because a lot of them we can't.
But what are we talking abouttoday, y'all?
Speaker 1 (01:46):
oh, surviving this economy, yeah, the struggles in
this economy, midlife in thiseconomy well, you brought this
up, so let's go people beinglaid off.
I've noticed a trend on socialmedia laid off I know, yeah, two
times in two years and it'slike what just happened um the
days of retiring from a company.
(02:08):
I I don't want to say it's longgone but it is, it is, but we
got to retire, but it is, yeah,it is, it's not, and I had been
at this company for 10 years andthat was the longest I held a
job, and I was like I'm justgoing to retire and I really
planned on just staying thereand retiring.
And then they said, yeah, 156of y'all, we're letting you go.
We're like what so?
Um, I've noticed a trend onsocial media of people in
(02:32):
midlife being let go from theirjobs that they've had 30 years,
25 years, and I'm like, oh mygod, what do you do?
I don't.
All you can do is try to pickup the pieces, but it's hard.
Now, the good thing that I willsay is that you can work for
yourself.
At this point, you can Uber door, dash there's something to do
(02:53):
to kind of tide you over inbetween.
We didn't have that back in theday, but I really don't
remember a lot of layoffshappening back then.
But yeah, it's hard for peoplethat are being laid off and I
just want to say this economy ishard on people period, because
you have an influx of gas prices, food prices have increased,
(03:13):
and then what I realize is Ifeel like my young adults are in
my pockets a little more, andwhat I have to take into
consideration they're not reallymaking enough to be able to
sustain, you know they've movedout on their own and they're
like, oh gosh, we didn't.
Of course they didn'tanticipate the prices of gas
going up.
Food going up so like mom, canyou spot me, 20, can you spot?
And I'm like geez, so I'mhaving to do more for them as if
(03:34):
they were like still in thehouse, and so that's taken away
from my plan.
Speaker 4 (03:37):
I'm just like this is just crazy but it kind of
affects you too, so they have tounderstand, like they don't
make as much.
Speaker 3 (03:44):
I may not be making they don't either like, yeah,
like that's why I'm going backhome yeah see, we got two
different, we kind of got twodifferent things going on.
Speaker 2 (03:53):
I think that the two of you could really touch on
because, like you said, you'vebeen laid off twice in two years
now see young.
You being laid off would havebeen like.
Speaker 1 (04:01):
Well how did it, it turn, it was it.
I was.
The first time I was unemployed,probably two months so God
helped me out on that one,because right when they laid
everyone off, I was at the pointbecause I was working remote
and I said I'm gonna get me asecond job.
I was gonna be one of thoseremote workers that had two jobs
and clearing well over sixfigures.
(04:22):
That was my goal and I hadpicked another job and so I was
supposed to start it the monthafter I got laid off.
So my transition was easy,because I had just started the
second job and started thesecond job and they were like,
oh yeah, thanks, guys.
We were like what?
So then I was left with nothing.
I think I was able to sustainbecause I was doing some work
(04:42):
for you and you knowunemployment ain't.
Speaker 4 (04:47):
Yeah, that was right in the middle of me decorating.
Speaker 1 (04:49):
Oh, that's.
Oh yeah, okay, yeah, that wasright in the middle of me
decorating.
So that was the blessing that Iwas able to sustain seven
months unemployed because I wasapplying, applying, applying
applying.
I remember how frustrated youwere, oh my gosh, because
younger me, or not even youngerme, I want to say a couple of
years ago.
I think about jobs like it wasnot a problem getting a job but
(05:11):
because of tech and everyonewanting to get into tech, the
market has become severelysaturated.
So the skills that I've had.
Now I have a thousand morepeople competing for the same
position that early on I wouldhave been able to get with no
problem, so it was juststressful.
And then applying onlinethrough the regular means of
(05:31):
trying to gain employment wasn'tenough.
I received a job throughsomebody I know.
I had to start going outside ofonline to people like hey do
you know anyone that's hiring?
Hey do you know anyone that'shiring?
And that was the only way I wasable to get a job, and it was
actually the job I got laid offfor.
It was someone on my team.
(05:51):
I was his boss and it was acouple of people that were on my
team and they found out I wasunemployed and like four of them
started Going hard, trying togo to their employees like she
was a good boss.
Blah, blah, blah.
Do we have anything?
for her and one of them hit andhe was like listen, come over
here, interview and I interview.
And they're like, yeah, we'regonna bring you on.
Thank you, jesus but just goingthe conventional way to gain a
(06:14):
job wasn't enough, and even myjob now is a contract position
contract positions can end atany time.
So I still don't have apermanent employment situation.
I I'm still like Lord.
What am I about to do?
Which is why I'm trying to goso hard outside of trying to do
serial entrepreneurshipsomething else?
Because I don't even know howlong this is going to last.
(06:36):
They renew it every six months.
Speaker 4 (06:37):
They may figure the next six months.
You know what?
We don't need her.
Speaker 1 (06:40):
And then I'm back to square one.
It's oh my gosh, and I've stillbeen actively placing resumes
out there for a year and a halfand I haven't gotten any hits in
a year and a half.
And I don't know if it's aageism thing.
I don't want to believe that,but I believe that you know.
So they tell us to tailor backsome things on our resume to not
show your age, because I haveplenty of experience, and I'm
(07:01):
like, why is no?
One calling me, it's just it'sit's scary.
Speaker 4 (07:06):
How do you prepare for every six months, knowing
that you don't know if you'llhave a job or not?
Do you do anything now?
Or any tools?
Speaker 1 (07:12):
I'm not prepared no, I'm not gonna lie, I'm not
prepared, because I'm stilltrying to help my kids.
I'm still trying to catch up onpast due.
When I was laid off, yeah, Igot behind on all of my bills,
and so I'm still trying to playcatch up with all of that.
And I'm just like, oh gosh, no,I don't.
Honestly, I don't know what thehell I would do.
I just I'm like Lord, you gotme through, he gets me through,
(07:36):
and that's why I just have tokeep having faith and just keep
trying to figure out another wayto make more money, because I
just one thing I will suggest isI use the company called budget
besties and actually found themon a podcast and they helped me
create a budget, and so myincome fluctuates every month
like I don't know.
Speaker 4 (07:53):
It could be high, it could be low, and so she helped
me set up a budget to where Iknow my basic bills are paid
every month because I know theminimum that.
Speaker 1 (08:00):
I'll get is this amount?
Speaker 4 (08:01):
yeah, and anything over that is going to go this
bucket here, this bucket there.
I can have some spending, myGLAM account and all that stuff.
So that really helped me out.
So now I'm like a month aheadon all my bills.
I used to do that when I wasyounger and I had all of them,
and then I got really far behind, but now I'm a month ahead, so
I know if something happens likeI'm not contracting, Luckily I
a really good season right now.
Like I have too much work, Ineed to probably turn stuff down
(08:23):
.
So I'm like, now that I'm inthis season, let me take care of
stuff in the future.
So if something else happens,you know a couple months down
the line.
I know I got at least a monthin the bank where I'm good, I
just got to catch up.
Yeah, so I will recommendbudgeting, if you can.
Speaker 1 (08:40):
But that's why I contemplated selling my house.
I was like you know what, letme just sell and get this money
and then just rent and pay allthese people off.
Have you know, some savings,invest in some things, but hell,
rent, rent is higher than yourmortgage.
It's higher than my mortgageand I was like no, it is.
And then I'm not in a positionto refinance because my credit
(09:01):
is shot for me, losing job andgetting behind on my my payments
and got late, so they're like,yeah, we're not.
What is the purpose of having ahouse if you get in a situation?
Speaker 2 (09:12):
and can't you I can't use.
Speaker 1 (09:14):
It's an asset to me, but I can't utilize it but then
I told you, someone did say okay, yeah, we'll let you on pull
some money out but then theywant 30,000 out and they wanted
so much of it or something.
Speaker 2 (09:25):
Well, no it was.
Speaker 1 (09:26):
I could pull the 30 000 out, but my mortgage was
going to increase by 900 andthen after closing I was only
going to walk away with 15 000that don't make sense for me.
It's like you're trying to putme in a more jacked up situation
.
Speaker 2 (09:40):
So I'm like you know but a lot that's that, a lot of
that predatory.
Yeah, because people are sodesperate they only see that
immediate fix.
Speaker 1 (09:48):
Yeah, and I was like damn that I try to get work on
my credit and keep trying tosave and just no, it's just,
yeah, it's just it's terrible,wow, but I do know if, at the
end of the day, my house is anasset and, where I chose to live
, I have plenty of equity in itand it just keeps growing.
So if my back was ever againstthe wall, it's yeah, go ahead
(10:12):
and sell and you'll be able towalk away with some money and
come sleep on somebody's floor.
Speaker 4 (10:17):
We'll go to Costa Rica and cost like $500,000.
I can live.
I can live real good.
Speaker 1 (10:25):
Yeah, that's my backup plan.
At this point, if I have to, Ijust have to sell my house.
Oh, my goodness.
Speaker 4 (10:29):
Honestly, that's mine too Now from the opposite side.
Speaker 2 (10:31):
I'm switching back over here to you, because now
you're preparing for retirementin this economy, right.
Speaker 3 (10:39):
I'm good Like what.
Speaker 4 (10:39):
I got this, I mean but-.
Speaker 2 (10:44):
What do you prepare?
Some of the things you're doingto prepare.
My house is paid off, which isa blessing, yeah.
Speaker 3 (10:50):
I just did my due diligence, to be honest.
But you know what I mean?
It was different, but I justdid my due diligence.
I don't even know where Ilearned it from.
Well, no, I got it from my mombecause, to be honest, my mom
didn't have a lot, but she had alot because, and so I learned
from a real early age with her.
(11:11):
It really doesn't matter, um,how much money you have, it's
really what you do with it, yeah.
And so I don't know, I reallydon't know how she did it, um,
but she used to bartend and makea lot of tips and that lady
used to take them quarters andand that change and that stuff,
(11:33):
and she just did a lot.
So I learned you don't evenrealize this when you're a kid,
you know you become your parentsbecause she always made
something out of nothing and Imean that's a slang language
that we say all the time but,like truthfully, yeah she did.
And so, yeah, I really learnedthat trait with her and I used
(11:55):
to always say I'm cheap and I'mlike, no, I'm really not cheap,
I'm a bit frugal and I payattention to like finances and
everything.
So, just at a very young age,like I like at 22 I started, you
know, the pension and the 401s,and it never came out of it,
you know.
And and even when I bought myhouse, I was like, okay, I'm not
(12:16):
doing a 30-year plan, I'm doinga 15-year plan.
And then when I do that 15-yearplan, you know I'm a because I
don't but I don't like bills andcredit, because when we were
young we were evicted and I wasa, I was young, I had t trauma
and weak trauma and we were umput out, like literally just put
(12:40):
out um, and had to figure outwhere we were going to go.
Yeah, and that's no shade to mymom, it's just where we were at
the time and I was devastatedand.
I had a, I had a baby with meand, um, I just swore that that
would never happen again.
And in all my life of working,there was only one time when I
(13:02):
didn't know my rent was going tocome from once and I borrowed
that from a friend who car lease.
Who um gave it.
You know I paid her back.
But some of the most traumaticexperiences shaped me and how I
think about money and the thingsthat I do.
And I just had a child and Iswore I would never be in a
(13:27):
position where she didn't havesomewhere to lay her head and so
I just managed.
Speaker 1 (13:33):
I just managed different um it seems like you
learned early on.
Yeah, I learned early.
Speaker 3 (13:39):
I watched my mom and then I was just so young and and
I, but I paid attention out ofout of bad things happening.
It wasn't like somebody taughtme, so to speak.
I just said what are the thingsthat I do so that this doesn't
happen to me, right, and then.
But we look at the economytoday.
Right, these folks, these youngfolks, don't have a chance.
(14:04):
So like we really have toextend grace to them.
So like when you say my kidscall me and they want 20 and
whatever, whatever.
And I know, like you said, butthey got to understand the
economy is bad for you too, andit is, it is, but they're still
our children.
Speaker 4 (14:21):
Yeah, but I see what they're buying sometimes too,
but that's a difference, right?
Oh yeah, we lost the gas.
No, no, no.
Speaker 3 (14:29):
So you're right, you still have to have discernment,
because every single one isdifferent, like you can look and
you can see.
Ok, yeah, you know everybody'sdifferent, but at the end of the
day, I don't, I, don't, I, Idon't, I don't, I, I don't now
(14:49):
these kids have a lot of senseof entitlement.
These days.
It's a lot going on we have topay attention to, but at the end
of the day, this economy Idon't know how they're doing it
like for real, for real it isnot set up to support them and I
could really understand anger.
I could see why they're angrybecause it's I mean, think about
(15:12):
it a house right now, 260.
Speaker 4 (15:18):
I mean they start up, but no wait, but somebody's
like I see younger kids livingin neighborhood like he's eight
hundred thousand dollar houses.
Speaker 2 (15:24):
I'm like what the year and see my opinion is
actually but that's all they'reoffered.
Speaker 3 (15:28):
I mean you.
I mean they don't have housesat a certain rate anymore, so
you kind of have to start at ata certain thing, you had to have
income to show that you canafford this house.
So I'm like or not, because,like with the predatory, well
there's that.
But then there's also when youmake this and they're I'm not,
I'm not for it or against it.
(15:49):
I'm gonna just say that, right,but what I'm saying is they'll
look at a base income andeverything else is not
considered right.
And then they say, okay, youqualify for.
You know this, this size houseand these people get in these
houses and they can't affordthem.
They can't keep it.
They can't keep it.
(16:09):
But honestly, depending onwhere you live and all of the
factors that go behind it,that's the setup.
The setup is to give you theloan because we know you're not
going to be able to keep it andwe're just going to get it back
anyway it's terrible.
Speaker 1 (16:19):
I mean my mortgage just went up 300 and I said,
mine just went up and I was likewell, they well when I learned
about it.
Speaker 2 (16:29):
But when you call the county the, county said well,
we haven't even put the tax outfor the year yet, because I
called the county because theysaid that my taxes had gone up
and I wanted to make sure Ihadn't missed.
Like, wait, now what's going on, did I?
Speaker 4 (16:42):
miss something.
Speaker 2 (16:43):
Did I pay my taxes Because?
Speaker 4 (16:44):
it's an escrow, but they took care of that right.
Speaker 1 (16:47):
So I called for that reason.
Speaker 2 (16:49):
And I said well, you know I was caught because you
know when my taxes have gone up.
She said, well, we haven't evenput the taxes out for the year.
Speaker 1 (17:00):
She said a lot of times your anticipate what's
coming through the analysis.
Speaker 2 (17:00):
Anticipate, because the taxes ain't even out yet.
Speaker 1 (17:02):
But then my homeowner's insurance doubled
from last year.
Speaker 2 (17:06):
Oh God, it doubled.
Speaker 3 (17:08):
Because of the housing market, the houses being
so high, everybody's price wentup, so the gas going to cost
more to cut.
Speaker 1 (17:18):
It's getting ridiculous.
Speaker 3 (17:19):
So they're basing it on the value of your house.
Everybody's value really haswent up, so the price is going
to cost more to cut.
Probably it's gettingridiculous.
So they're basing it on thevalue of your house.
Everybody's value really hasgone up, so they're basing your
taxes and everything on thevalue of your home.
Speaker 1 (17:27):
That's why I say, oh, then I'll be able to sell this
sucker for a pretty penny.
Speaker 4 (17:30):
then Then where do you go?
Because if you, rent.
Speaker 1 (17:33):
it's going to cost more, I know.
Speaker 4 (17:34):
And if you buy something else it's going to
cost even more.
Speaker 1 (17:37):
I've been talking to you about it and you're like,
just sit still and be quiet.
Speaker 2 (17:41):
Just sit still for a minute.
You'll know when it's time tomove.
I don't know what to do, butdon't make a rash decision,
because then that's how you getcaught up in that predatory
stuff.
Speaker 1 (17:49):
Yeah, I'm not even trying to pull nothing from the
lighting anymore.
Speaker 3 (17:54):
I ain't worried about that.
You know, there was a time whenwe thought, yeah, just ride it
out, and it's going to go downand everything I don't know.
Speaker 4 (18:02):
It is cyclical, though.
It goes up and down.
Speaker 2 (18:04):
Yeah, but it is cyclical, but at the same time
it's taking longer for thosecycles, right.
At the same time.
This is.
This reminds me of when thestock market crashed and this
was and I learned this from somerich folks.
When I started looking intoinvesting money, people were um,
I learned this from an investor.
He said I always know trueinvestors and people that are
(18:27):
not what they consider a realinvestor, he said, because a
real investor could care lesshow the market is doing.
You just ride it out.
No, no, no, no.
He said you don't ride it.
You don't ride it out.
A real investor makes money, nomatter if the market goes up or
down.
Mm hmm, it don't matter.
It don't matter what the marketis doing.
We were trained to be poor.
That's the difference.
(18:48):
We were trained to be poor whenone thing, you don't and
realize the market.
Remember when everyone waslosing their 401ks because
people told them to ride it out?
Why?
Why, you should have cashedthat money out the moment that
thing started dropping becauseyou were losing your money.
But a real investor and this iswhat I learned with money,
(19:10):
these are all my investingclasses and all that kind of
stuff a real investor makesmoney whether the market goes up
or the market goes down.
So are you familiar with youbuy a stock right, so we're told
to buy low, sell high right,because now that difference
between what you bought it forand what you sold it for makes
(19:32):
money right Now.
Listen to this Did you know youcan sell first before you buy
it?
What?
Speaker 1 (19:41):
No.
Speaker 2 (19:42):
Everything is digital .
Do you ever actually takepossession of a stock in your
hand?
So who said you had to buy itfirst?
Speaker 4 (19:49):
How can I sell?
Speaker 1 (19:49):
something I don't have.
Wait a minute that you don'thave, it's nothing but digital.
Speaker 2 (19:53):
It's just digital.
Speaker 1 (19:54):
So you finagling something.
Speaker 2 (19:55):
You can sell a stock, watch it drop and then buy it.
Do you get the same?
Spring it?
I don't know nothing about this.
Speaker 4 (20:05):
I'm getting confused.
Speaker 1 (20:06):
Which is why we have been trained to be broke.
I don't think you have to ownit.
Speaker 2 (20:12):
You don't have to own it first, because you never
take possession of it.
You never take possession of it.
Let's sell your car that never,took position.
Speaker 1 (20:25):
No, no, that's a that's a physical product but
digitally you.
That's a physical product okayokay, okay, okay, okay because
I'm so confused.
Speaker 3 (20:35):
We need okay, okay, yeah, because I'm thinking you
can sell like over the years andbuy later you can buy first and
sell later.
Speaker 2 (20:44):
You never take possession.
It's just a it, just it's justa.
It's digital, if that makessense.
Speaker 1 (20:50):
It don't.
Are you putting a damn paymenton it?
No, I'm not talking about ahouse.
Speaker 2 (20:54):
No, I'm talking about I'm still a layer I'm a layer
I'm a layer, I'm a bias and I'mtelling you this because I've
done it personally I know thatyou can do this.
I've learned this and you sayyou're gonna buy it.
I want to buy.
This stock right now is superhigh and this is why I say a
real investor could care lesshow the market is doing, because
(21:15):
a real investor is going tomake money, whether the market
goes up, it goes down or whetherit stays the same.
There's calls, there's puts,there's the bull market, there's
the bear market.
That's learning the market whenthere's parameters that you can
set.
Let's say the market nevermoves.
You can set a parameter thatsays here and here, while the
market is here in the middle andas long as it stays here in the
(21:38):
middle between these twoparameters, I make money.
That's the stock market you canset a parameter that says oh my
god, this stock is so high, it'santicipated to drop.
So guess what?
I'm gonna sell it up here high,because, remember, I don't take
possession of it and then itdrops and I'm gonna buy it.
Do I still get?
Speaker 4 (21:57):
the spread.
I understand.
So you're saying it's digitized, so whenever these things
happen, it's already set up todo that.
I'm not physically going in, Idon't buy it.
I don't buy it, I don't own ityet I don't.
Speaker 2 (22:06):
You don't have to, because you're never.
It's not like this fan that youhave to actually give me the
fan Automated is a better word,I'm a silk, I even buy it, but
that's what you're doing.
Speaker 4 (22:22):
No, no.
Speaker 2 (22:23):
But I can.
You have to read thecandlesticks and all that kind
of thing.
This is where you'reanticipating where the market
goes.
So if the market as you'reanticipating that the market is
going to drop, you will sell itfirst, because you're going to
(22:43):
sell it at a high price and youset that price, but no, the
price is already there inbetween.
Speaker 4 (22:45):
This is where you bought it.
Speaker 2 (22:46):
This is the current price where you bought it.
I'm anticipating that themarket is going to drop when it
hits this point.
Right here, buy it you stillcan't, they're still okay, yeah,
okay, okay, you just sold itfirst, yeah now the set, but
we've been trained, which is whya lot of people lost their
401ks when they they alreadyowned it here.
(23:08):
They should have cashed out andheld it right while it crashed
right, or now that you own, youown it here.
You can sit on it.
You can wait for the market togo back up.
Because did the market comeback up?
Speaker 4 (23:23):
you just said it's cyclical right?
Speaker 2 (23:24):
yeah, yeah it's a cycle, it's gonna come back up.
Why would you let your moneycrash?
Because they told you hold it,hold it, hold it.
Who told you that?
Because they didn't hold theirs, they cashed that money out,
held that until that marketstarted to turn back up and then
they bought it low and theysold it high.
But when the market started togo down, they sold it and then
(23:48):
bought it when it hit low.
Is it the same spread?
Yeah, same spread, don't matterwhich way the market goes.
Speaker 4 (23:54):
I sound like another class of conference.
Speaker 2 (23:56):
Should we just shut?
Speaker 4 (23:56):
up.
Speaker 3 (23:57):
I'm telling you, it doesn't matter and you know how
long I've done it and I I didn'tlose because, but I had people
who yeah, right, right, you havesomeone that does so they was
like no, because I wanted topull out.
But they was like, no, hold it.
So that's what I was talkingabout, not that whole thing.
You would.
You know you were saying, butthey was like, no, don't touch
your stock, leave it.
(24:17):
But they invested it and didall the numbers and stuff.
I don't know what they do, butI know I never lost over the
years.
Speaker 2 (24:24):
And so that's why I said my view of how do you
survive in this market.
I'm going to tell you right nowit's going to be the most
millionaires ever made.
While Donald Trump is in office, this is going to be the time
of this is the boom ofmillionaires.
First of time of this is theboom of millionaires.
First of all, let's just keepit 100, and this is this is
going to be controversial.
Speaker 1 (24:45):
It's going to be controversial, in my opinion.
Speaker 2 (24:48):
I'm not saying donald trump is racist or not racist,
because you know, you got thatover the place, but what I can
tell you is he's elitist, he'sfor the rich, so the things that
he is setting in place are toprotect people with money, to
help you get more money.
What you got to do is figureout how you get in that line,
and the one thing I can say,even though it's tough for young
(25:08):
people nowadays, it's easierfor young people.
Nowadays.
You have more youngmillionaires.
You have young, youngmillionaires under 30, because
they have options that we didnot have then, and you have even
people our age.
How many digital contentcreators are our age now?
She's just showing her fashion.
(25:29):
She's 75 and she got a millionfollowers.
We have options.
One thing I think about us weget set in our ways because we
don't know and a lot of us arenot willing to learn other ways,
or we are used to doing thingsout of habit, because this is
the way we've always done it.
We don't change and evolve withthe times.
Speaker 4 (25:50):
You talk about that a lot pivoting.
Speaker 2 (25:51):
Yes.
Speaker 4 (25:51):
You've got to be.
There's a lot of people whodon't.
Speaker 3 (25:54):
You've got to pivot.
They're stuck in their ways.
Speaker 2 (25:56):
This is the age of millionaires right now, which is
why, you see, which is yeahthey got an $800,000 house.
Speaker 3 (26:04):
I would really like to know the numbers because they
well, you're saying that, butwe say a lot Like people say a
lot, yeah, and they're on socialmedia saying what they have and
they in debt, sleeping in cars.
Not everybody, Lord, oh no it'sa lot of fake folks, so like
while we say that I, I wouldlike to see, I would just like
(26:26):
to really understand that andknow it and say it, you know?
I mean like how we were sayingthat the age group from which
you could tell of the peoplethat watch our show is not the
40 plus, it's really.
Speaker 2 (26:37):
But that's the, that's the analytics.
There you go the analytics, solike, while you say that and I
hear plus, it's right.
But that's the, that's the theanalytics.
Speaker 3 (26:40):
There you go, the analytics.
So like, while you say that andI hear you, it's like how true
is that really?
Like I want to know that.
Yeah, because I kind of want toknow that.
Speaker 4 (26:50):
Yeah, I've looked at it but think about you, do you
go on youtube and watch videosall day?
Younger kids they go and theywatch videos all day.
Speaker 3 (26:56):
No, I get it.
I get it and I understand thenumbers and the analytics.
Speaker 2 (26:59):
It is it's the numbers and I'm gonna bring.
I hate that I didn't think yeahbecause I didn't know we were
going down this path we lovey'all for watching right thank
you that I would have had.
I would have had the numbers,but I just think that they have
there's so many more options forthem to do.
They ain't gotta leave home.
Yeah, I ain't trying to findout, I don't have.
Even now, I don't have to leavemy house.
When I leave my house, I losemoney.
(27:20):
When I leave home, my money issitting right around the corner.
Speaker 4 (27:24):
In the computer.
Speaker 2 (27:25):
yeah, you know what I'm saying On that desk, on that
computer.
That's where my money's at, andso a lot of young people.
I just think there are a lot ofoptions.
So the economy is hard, butthey're learning how to make
money.
Speaker 4 (27:45):
You.
Speaker 2 (27:45):
The economy is hard, but they they're learning how to
make money you know how manyyoung people are in real estate
right now.
We were so happy to own our onelittle house that we live in,
which is a liability and not anasset.
You know, I'm saying likethey're learning how to airbnbs
do these things right it's a lotof young people, but all of
that is starting to crash toowell, that's because the the
market is crashing but I'm gonnatell you one thing is never
gonna crash people always gottahave somewhere to live.
People always gonna have to eat.
You know I'm saying, whetheryou're in now, you may not that
(28:08):
maybe the luxury market is gonnaget hit worse or whatever.
But guess what?
It's gonna end.
Speaker 4 (28:13):
So much of a need for low-income housing now, whether
or not we're gonna have a, agovernment organization anymore
about low income housing, Idon't know, but that ain't gonna
take the fact away that there'sgonna be a lot of people in a
place to live, so you have a lotof people in real estate.
Speaker 2 (28:31):
But I just think we just get so set as being older.
We were taught the nine to five.
We were taught to go get a job.
We were taught to stay therefor forever and we don't have
not diversified.
Yeah, because we we relied onour 401ks, we relied on our
pensions, we relied on all thosethings and then the government
(28:51):
came in and started wiping thatout.
For a lot of people and a lotof people, especially our age,
there's not a such thing as anew job.
You know what I'm saying.
But in this day and time you'vegot to pivot and you have to
learn to diversify.
I have my hands in so many hatsright now.
I'm all over the place.
I ain't going to lie to you, Iain't got a handle on none of
(29:12):
them.
I was like you've got to get meout of this, I've got to do
this, I got to do that, I got todo this.
I got to do that why?
Because I've been anentrepreneur for 20-something
years.
There is no 401k Right.
Speaker 4 (29:25):
I can't say I'm retired today and there's a 401k
sitting right here If you arean entrepreneur you need to
start getting your Roths,especially at a young age.
Speaker 2 (29:35):
Start putting that money away for a while you got
to start creating your own 401ks.
Speaker 3 (29:40):
They do now have 401ks for your insurance your
health insurance.
Speaker 2 (29:47):
You got to learn how to pivot, and if you don't do
nothing else, you got to learnhow to diversify.
Look how people lost theirfreaking mind.
What was that that went downfor one day?
Tiktok, was it TikTok?
Speaker 3 (29:57):
or Instagram.
It was TikTok, it went down forone freaking day.
You see those people was losingtheir money.
Because a lot of people getpaid off of TikTok too, but
guess what?
Speaker 2 (30:07):
TikTok wasn't here 10 years ago.
Tiktok might not be here 10years from now.
Speaker 4 (30:11):
So you need to make your money from TikTok now.
Speaker 2 (30:14):
You need to be making your money from TikTok now, but
what you doing with that money?
Right, that's what counts moneyfrom TikTok now, but what
you're doing with that money,because when that's not here
anymore, whatever the next bestthing is, you need to be trying
to figure out how to make thatmoney.
Make money.
Speaker 3 (30:28):
That's the thing, and not spend it as you get it.
And that's the other thing thatwe're talking about, there's a
lot of whatever.
I guess they're millionairesbecause they bring the millions
in, but they're not reallymillionaires because these folks
don't know how to save theirmoney.
Speaker 2 (30:43):
You get what I'm saying, like they don't invest,
you might be a millionaire.
Speaker 3 (30:46):
On paper they're on paper, but they don't know how
to invest their money, to thepoint that you was talking about
.
They can't even buy aninsurance policy, they get sick,
they land up somewhere, but I'ma millionaire, you know.
Know, like all of these things,this happened and it just
(31:06):
doesn't make sense.
So, like, just, I'm not caughtup in the hype.
I'm not caught up in a hype, soI would like to see that, just
because I'm like, uh, that soundgood and it may be true, I'm
not like negating the youngpeople out there and saying that
that's not happening but wehave to be very careful, like we
.
We have to learn and understand,especially for the younger
generation.
Now that you're bringing it in,what do you get in?
(31:29):
You know because I see youraudi right you know what I mean.
And I see your nice cars and Isee you at the club throwing
millions of dollars on, but likethat's why you do something
else.
Speaker 2 (31:40):
Athletes are broke they got all those millions of
dollars because it's a it's it'sa millionaire mindset.
You can give a broke man allthe money in the world if he
don't know what to do with it,he still.
Speaker 3 (31:51):
The lotto is a good example and I ain't trying to be
funny.
Speaker 2 (31:53):
Look, I've had money in my life.
I've been broke right behind it.
I had a little money beforeI've been broke right behind it.
Hello money before I've beenbroke right behind it again and
I just brought up Jesus.
I'm learning lessons you knowI'm learning when you decide to
bless me with that real big onethe next time but I'm ready for
(32:19):
you this time, because youdidn't know.
Speaker 3 (32:21):
The financial literacy Right.
Speaker 2 (32:23):
That financial literacy you didn't know, so
that's why I say, in thiseconomy this economy is tough
and it's hard, but one you havegot to learn how to pivot, yeah
and you have to learn how todiversify, because guess what?
Speaker 3 (32:45):
people gonna stop traveling y'all.
Oh yeah, they are.
I'm gonna be good but they areright.
Speaker 2 (32:47):
Right, but my travel business is my life yeah, yeah,
yeah so why, why, why do youthink I'm doing all these
different?
Speaker 4 (32:53):
things yeah, yeah I ain't doing it because I like
running around, I'm doing it sowhen this goes down, you're
another bag.
Speaker 3 (32:59):
Yeah, because when you can't afford to live.
You ain't trying to travelhello, that's true.
Speaker 2 (33:04):
So what happens when my travel business goes down?
You?
better have something else youbetter have something else.
You can't wait till it crashand then try to figure out what
to do, because now I'm in, I'min turmoil.
So, yeah, I'm, I'm buying someproperties.
Yeah, let me build some housesand put some people in it.
(33:24):
You know what I'm saying.
Yeah, let me look at the stockmarket.
Whether it goes up or it goesdown, I need to know how to make
money, no matter whichdirection that stock market goes
.
That's why I study, that's whyI read, that's why I don't took
so many people.
Classes is absolutely absurd,and one of the best things that
ever happened was years ago.
I took um rich dad, poor dad,robert kiyosaki.
He has people all over thecountry that teaches different
(33:46):
things about investing.
This frail looking older whiteman walked in.
He looked all scruffy andeverything.
The class was full and itlooked like a people.
A lot of people that look likeus were in the class and the the
gentleman walked in and we waslike, oh, is that the instructor
?
Because we judged him by how helooked.
Yeah, that man had way more ifyou added all our stuff together
(34:08):
we didn't have half if youadded all of us together, we
didn't have a third.
And he said I make a couplehundred thousand dollars a month
.
Because he looked scruffy,everything and what he did was
and this was at the time whenthey he projected it up on the
thing, he typed in whatever onthe computer and it showed up on
(34:29):
the screen.
And he opened one of hischecking accounts and he said he
.
All he said was I make a couplehundred thousand a month.
See, now we're looking atnumbers on the screen and we're
like, um, okay, I guess he's forreal.
Yeah, I guess he's for real.
So he said you know, when Istarted investing in real estate
, he said he, he made twohundred and something thousand
(34:51):
dollars a year.
He said, and I was in debt, Istill lived paycheck to paycheck
.
Because you think, we think, oh, you make six figures six
figures ain't the same, no more,he said why he said because my
house got bigger.
Yep, my car has got moreexpensive.
My wife needed an expensive car, the kids are now in private
school, you know.
So I didn't make 200 000 andmaintain that same level that I
had when I was broke.
My expenses went up, so I'mstill living paycheck to
(35:14):
paycheck.
But he said what I had was goodcredit, so we gonna talk about
your credit.
What I had was good credit, sowe don't talk about your credit.
What I had was good credit.
So I was able to get a line ofcredit.
So he took the line of credit$100,000, and he learned how to
invest his $100,000.
He said and at the time mymonthly payment was like $400,
$500, let's say $500 a month.
(35:36):
He said now I make a couplehundred thousand dollars a month
.
He said now I make a couplehundred thousand dollars a month
.
He said now, what do you thinkI did with that $100,000 loan?
He put it in the stock market,didn't he?
No, he got a bill.
He got to pay that $100,000back.
Speaker 4 (35:52):
He made a couple hundred thousand a month and
most people were like, oh shoot,he was able to pay that off
real quick.
Speaker 2 (35:58):
He said I will never pay them back what I will every
month pay $500 a month untilit's paid off.
I will never give you that lumpsum, but it helps keep your
credit going too Well, one ofthe reasons why he did it.
He said, and I promise you thisscruffy man, he said and that's
why y'all broke he was like Iknow you, Okay, yeah, he right.
(36:18):
Let.
He was like I know you, okay,yeah, he right.
Let me hear what he got to say.
He said because if I took ahundred thousand dollars,
because I could pay them ahundred thousand dollars right
now to pay that loan off butthat hundred thousand dollars.
He could stick that hundredthousand dollars and go make
another three hundred and fourhundred thousand over here with
that same hundred thousanddollars he was gonna pay back.
He said I will forever pay themfive hundred dollars a month.
(36:40):
I will never give you a hundredthousand dollars in a lump.
I don't care if I make amillion dollars a month, that
hundred thousand dollars isgonna best roll over 10 times by
the time.
I give you all that money, thatthat lump sum of money back.
He said.
It's a mindset.
We are taught to be broke.
We're taught to hold it foreverwhile you watch it crash
(37:04):
Because somebody told you tohold it, he said.
But the rich people didn't holdtheirs, they didn't lose a lot.
They cashed it out, froze for aminute when it moved again.
Then they put it back in.
But we were taught to hold it.
You've got to learn financialliteracy.
And you've got to learn how topivot and you have to learn how
to diversify.
Speaker 4 (37:24):
Where do you get that information from?
Speaker 2 (37:26):
We're going to get us some workshops.
Speaker 4 (37:29):
We're going to set up some workshops.
That's a whole class we haveinsurance one-on-one, we've got
to do financial literacy.
Yes, like y'all say, if you youhave it, you need to enjoy it
with everybody.
You want to bring everybodyelse with you.
Speaker 2 (37:43):
so that's you know.
And then that's another thingyou got to learn that you can't
bring everybody.
Everybody can't come on theride.
I'm always looking to bettermyself and to learn.
(38:06):
I would love to do things as agroup and do things as a whole
Like we always say it ain't nofun, you don't want to be the
only one.
You want to bring your friendswith you, your circle with you.
But you have to also realizeyou can't bring it.
But anyway we can sit here andtalk about this forever y'all.
I'm glad y'all.
Good for now, yeah.
Speaker 4 (38:26):
But we about to sign up for this class, though we
about to be rich, we about todiversify and pivot as well, but
anyway, this is Laverly.
This is Stephanie.
This is you.
Speaker 2 (38:40):
This is.
Speaker 4 (38:41):
Stephanie, this is you.
This is Evania and we gonnakeep on spilling the tea on your
money, honey.
One laugh at a time.
The days of retiring from a company.
Speaker 2 (00:03):
I don't want to say it's long gone but it is, it is,
but we got to retire.
But it is it really?
Speaker 3 (00:09):
is, my mom didn't have a lot, but she had a lot,
and so I learned from a realearly age with her it really
doesn't matter how much moneyyou have, it's really what you
do with it.
I really don't know how she didit.
She always made something outof nothing and I mean, that's a
(00:29):
slang language that we say allthe time, but like truthfully
she did this is legra, this isstephanie, this is shere and
this is Evania.
Speaker 2 (00:55):
And this is Timeless and Unfiltered, where we are
spilling the tea on midlife, onelaugh at a time.
This is Timeless and Unfiltered.
You guys Keeping it real.
This is.
Speaker 4 (01:03):
Stephanie, this is Cherie.
Speaker 2 (01:04):
This is.
Speaker 4 (01:04):
Stephanie.
This is Sharice.
This is Evanya.
Speaker 2 (01:06):
And we got Stephanie over here putting her boobs in
people's ears.
I don't know what we doing.
Speaker 4 (01:11):
Not just people, not everybody.
You're going to get a titty.
You get a titty.
Speaker 2 (01:17):
You get a titty.
Speaker 4 (01:19):
You hear me now.
Y'all so crazy.
Speaker 2 (01:20):
Y'all so crazy.
Speaker 4 (01:27):
We crazy, y'all so crazy, we gonna spill the tea on
midlife, one last.
Speaker 1 (01:28):
That's how I gotta ring them back in, y'all, let me
.
Speaker 2 (01:29):
Let me throw something out there, ring them
back in, bring back theconversation before we start yes
, oh, if y'all can really hearhalf the conversations we have
to try to make sure we haveconversations that we can air,
because a lot of them we can't.
But what are we talking abouttoday, y'all?
Speaker 1 (01:46):
oh, surviving this economy, yeah, the struggles in
this economy, midlife in thiseconomy well, you brought this
up, so let's go people beinglaid off.
I've noticed a trend on socialmedia laid off I know, yeah, two
times in two years and it'slike what just happened um the
days of retiring from a company.
(02:08):
I I don't want to say it's longgone but it is, it is, but we
got to retire, but it is, yeah,it is, it's not, and I had been
at this company for 10 years andthat was the longest I held a
job, and I was like I'm justgoing to retire and I really
planned on just staying thereand retiring.
And then they said, yeah, 156of y'all, we're letting you go.
We're like what so?
Um, I've noticed a trend onsocial media of people in
(02:32):
midlife being let go from theirjobs that they've had 30 years,
25 years, and I'm like, oh mygod, what do you do?
I don't.
All you can do is try to pickup the pieces, but it's hard.
Now, the good thing that I willsay is that you can work for
yourself.
At this point, you can Uber door, dash there's something to do
(02:53):
to kind of tide you over inbetween.
We didn't have that back in theday, but I really don't
remember a lot of layoffshappening back then.
But yeah, it's hard for peoplethat are being laid off and I
just want to say this economy ishard on people period, because
you have an influx of gas prices, food prices have increased,
(03:13):
and then what I realize is Ifeel like my young adults are in
my pockets a little more, andwhat I have to take into
consideration they're not reallymaking enough to be able to
sustain, you know they've movedout on their own and they're
like, oh gosh, we didn't.
Of course they didn'tanticipate the prices of gas
going up.
Food going up so like mom, canyou spot me, 20, can you spot?
And I'm like geez, so I'mhaving to do more for them as if
(03:34):
they were like still in thehouse, and so that's taken away
from my plan.
Speaker 4 (03:37):
I'm just like this is just crazy but it kind of
affects you too, so they have tounderstand, like they don't
make as much.
Speaker 3 (03:44):
I may not be making they don't either like, yeah,
like that's why I'm going backhome yeah see, we got two
different, we kind of got twodifferent things going on.
Speaker 2 (03:53):
I think that the two of you could really touch on
because, like you said, you'vebeen laid off twice in two years
now see young.
You being laid off would havebeen like.
Speaker 1 (04:01):
Well how did it, it turn, it was it.
I was.
The first time I was unemployed,probably two months so God
helped me out on that one,because right when they laid
everyone off, I was at the pointbecause I was working remote
and I said I'm gonna get me asecond job.
I was gonna be one of thoseremote workers that had two jobs
and clearing well over sixfigures.
(04:22):
That was my goal and I hadpicked another job and so I was
supposed to start it the monthafter I got laid off.
So my transition was easy,because I had just started the
second job and started thesecond job and they were like,
oh yeah, thanks, guys.
We were like what?
So then I was left with nothing.
I think I was able to sustainbecause I was doing some work
(04:42):
for you and you knowunemployment ain't.
Speaker 4 (04:47):
Yeah, that was right in the middle of me decorating.
Speaker 1 (04:49):
Oh, that's.
Oh yeah, okay, yeah, that wasright in the middle of me
decorating.
So that was the blessing that Iwas able to sustain seven
months unemployed because I wasapplying, applying, applying
applying.
I remember how frustrated youwere, oh my gosh, because
younger me, or not even youngerme, I want to say a couple of
years ago.
I think about jobs like it wasnot a problem getting a job but
(05:11):
because of tech and everyonewanting to get into tech, the
market has become severelysaturated.
So the skills that I've had.
Now I have a thousand morepeople competing for the same
position that early on I wouldhave been able to get with no
problem, so it was juststressful.
And then applying onlinethrough the regular means of
(05:31):
trying to gain employment wasn'tenough.
I received a job throughsomebody I know.
I had to start going outside ofonline to people like hey do
you know anyone that's hiring?
Hey do you know anyone that'shiring?
And that was the only way I wasable to get a job, and it was
actually the job I got laid offfor.
It was someone on my team.
(05:51):
I was his boss and it was acouple of people that were on my
team and they found out I wasunemployed and like four of them
started Going hard, trying togo to their employees like she
was a good boss.
Blah, blah, blah.
Do we have anything?
for her and one of them hit andhe was like listen, come over
here, interview and I interview.
And they're like, yeah, we'regonna bring you on.
Thank you, jesus but just goingthe conventional way to gain a
(06:14):
job wasn't enough, and even myjob now is a contract position
contract positions can end atany time.
So I still don't have apermanent employment situation.
I I'm still like Lord.
What am I about to do?
Which is why I'm trying to goso hard outside of trying to do
serial entrepreneurshipsomething else?
Because I don't even know howlong this is going to last.
(06:36):
They renew it every six months.
Speaker 4 (06:37):
They may figure the next six months.
You know what?
We don't need her.
Speaker 1 (06:40):
And then I'm back to square one.
It's oh my gosh, and I've stillbeen actively placing resumes
out there for a year and a halfand I haven't gotten any hits in
a year and a half.
And I don't know if it's aageism thing.
I don't want to believe that,but I believe that you know.
So they tell us to tailor backsome things on our resume to not
show your age, because I haveplenty of experience, and I'm
(07:01):
like, why is no?
One calling me, it's just it'sit's scary.
Speaker 4 (07:06):
How do you prepare for every six months, knowing
that you don't know if you'llhave a job or not?
Do you do anything now?
Or any tools?
Speaker 1 (07:12):
I'm not prepared no, I'm not gonna lie, I'm not
prepared, because I'm stilltrying to help my kids.
I'm still trying to catch up onpast due.
When I was laid off, yeah, Igot behind on all of my bills,
and so I'm still trying to playcatch up with all of that.
And I'm just like, oh gosh, no,I don't.
Honestly, I don't know what thehell I would do.
I just I'm like Lord, you gotme through, he gets me through,
(07:36):
and that's why I just have tokeep having faith and just keep
trying to figure out another wayto make more money, because I
just one thing I will suggest isI use the company called budget
besties and actually found themon a podcast and they helped me
create a budget, and so myincome fluctuates every month
like I don't know.
Speaker 4 (07:53):
It could be high, it could be low, and so she helped
me set up a budget to where Iknow my basic bills are paid
every month because I know theminimum that.
Speaker 1 (08:00):
I'll get is this amount?
Speaker 4 (08:01):
yeah, and anything over that is going to go this
bucket here, this bucket there.
I can have some spending, myGLAM account and all that stuff.
So that really helped me out.
So now I'm like a month aheadon all my bills.
I used to do that when I wasyounger and I had all of them,
and then I got really far behind, but now I'm a month ahead, so
I know if something happens likeI'm not contracting, Luckily I
a really good season right now.
Like I have too much work, Ineed to probably turn stuff down
(08:23):
.
So I'm like, now that I'm inthis season, let me take care of
stuff in the future.
So if something else happens,you know a couple months down
the line.
I know I got at least a monthin the bank where I'm good, I
just got to catch up.
Yeah, so I will recommendbudgeting, if you can.
Speaker 1 (08:40):
But that's why I contemplated selling my house.
I was like you know what, letme just sell and get this money
and then just rent and pay allthese people off.
Have you know, some savings,invest in some things, but hell,
rent, rent is higher than yourmortgage.
It's higher than my mortgageand I was like no, it is.
And then I'm not in a positionto refinance because my credit
(09:01):
is shot for me, losing job andgetting behind on my my payments
and got late, so they're like,yeah, we're not.
What is the purpose of having ahouse if you get in a situation?
Speaker 2 (09:12):
and can't you I can't use.
Speaker 1 (09:14):
It's an asset to me, but I can't utilize it but then
I told you, someone did say okay, yeah, we'll let you on pull
some money out but then theywant 30,000 out and they wanted
so much of it or something.
Speaker 2 (09:25):
Well, no it was.
Speaker 1 (09:26):
I could pull the 30 000 out, but my mortgage was
going to increase by 900 andthen after closing I was only
going to walk away with 15 000that don't make sense for me.
It's like you're trying to putme in a more jacked up situation
.
Speaker 2 (09:40):
So I'm like you know but a lot that's that, a lot of
that predatory.
Yeah, because people are sodesperate they only see that
immediate fix.
Speaker 1 (09:48):
Yeah, and I was like damn that I try to get work on
my credit and keep trying tosave and just no, it's just,
yeah, it's just it's terrible,wow, but I do know if, at the
end of the day, my house is anasset and, where I chose to live
, I have plenty of equity in itand it just keeps growing.
So if my back was ever againstthe wall, it's yeah, go ahead
(10:12):
and sell and you'll be able towalk away with some money and
come sleep on somebody's floor.
Speaker 4 (10:17):
We'll go to Costa Rica and cost like $500,000.
I can live.
I can live real good.
Speaker 1 (10:25):
Yeah, that's my backup plan.
At this point, if I have to, Ijust have to sell my house.
Oh, my goodness.
Speaker 4 (10:29):
Honestly, that's mine too Now from the opposite side.
Speaker 2 (10:31):
I'm switching back over here to you, because now
you're preparing for retirementin this economy, right.
Speaker 3 (10:39):
I'm good Like what.
Speaker 4 (10:39):
I got this, I mean but-.
Speaker 2 (10:44):
What do you prepare?
Some of the things you're doingto prepare.
My house is paid off, which isa blessing, yeah.
Speaker 3 (10:50):
I just did my due diligence, to be honest.
But you know what I mean?
It was different, but I justdid my due diligence.
I don't even know where Ilearned it from.
Well, no, I got it from my mombecause, to be honest, my mom
didn't have a lot, but she had alot because, and so I learned
from a real early age with her.
(11:11):
It really doesn't matter, um,how much money you have, it's
really what you do with it, yeah.
And so I don't know, I reallydon't know how she did it, um,
but she used to bartend and makea lot of tips and that lady
used to take them quarters andand that change and that stuff,
(11:33):
and she just did a lot.
So I learned you don't evenrealize this when you're a kid,
you know you become your parentsbecause she always made
something out of nothing and Imean that's a slang language
that we say all the time but,like truthfully, yeah she did.
And so, yeah, I really learnedthat trait with her and I used
(11:55):
to always say I'm cheap and I'mlike, no, I'm really not cheap,
I'm a bit frugal and I payattention to like finances and
everything.
So, just at a very young age,like I like at 22 I started, you
know, the pension and the 401s,and it never came out of it,
you know.
And and even when I bought myhouse, I was like, okay, I'm not
(12:16):
doing a 30-year plan, I'm doinga 15-year plan.
And then when I do that 15-yearplan, you know I'm a because I
don't but I don't like bills andcredit, because when we were
young we were evicted and I wasa, I was young, I had t trauma
and weak trauma and we were umput out, like literally just put
(12:40):
out um, and had to figure outwhere we were going to go.
Yeah, and that's no shade to mymom, it's just where we were at
the time and I was devastatedand.
I had a, I had a baby with meand, um, I just swore that that
would never happen again.
And in all my life of working,there was only one time when I
(13:02):
didn't know my rent was going tocome from once and I borrowed
that from a friend who car lease.
Who um gave it.
You know I paid her back.
But some of the most traumaticexperiences shaped me and how I
think about money and the thingsthat I do.
And I just had a child and Iswore I would never be in a
(13:27):
position where she didn't havesomewhere to lay her head and so
I just managed.
Speaker 1 (13:33):
I just managed different um it seems like you
learned early on.
Yeah, I learned early.
Speaker 3 (13:39):
I watched my mom and then I was just so young and and
I, but I paid attention out ofout of bad things happening.
It wasn't like somebody taughtme, so to speak.
I just said what are the thingsthat I do so that this doesn't
happen to me, right, and then.
But we look at the economytoday.
Right, these folks, these youngfolks, don't have a chance.
(14:04):
So like we really have toextend grace to them.
So like when you say my kidscall me and they want 20 and
whatever, whatever.
And I know, like you said, butthey got to understand the
economy is bad for you too, andit is, it is, but they're still
our children.
Speaker 4 (14:21):
Yeah, but I see what they're buying sometimes too,
but that's a difference, right?
Oh yeah, we lost the gas.
No, no, no.
Speaker 3 (14:29):
So you're right, you still have to have discernment,
because every single one isdifferent, like you can look and
you can see.
Ok, yeah, you know everybody'sdifferent, but at the end of the
day, I don't, I, don't, I, Idon't, I don't, I, I don't now
(14:49):
these kids have a lot of senseof entitlement.
These days.
It's a lot going on we have topay attention to, but at the end
of the day, this economy Idon't know how they're doing it
like for real, for real it isnot set up to support them and I
could really understand anger.
I could see why they're angrybecause it's I mean, think about
(15:12):
it a house right now, 260.
Speaker 4 (15:18):
I mean they start up, but no wait, but somebody's
like I see younger kids livingin neighborhood like he's eight
hundred thousand dollar houses.
Speaker 2 (15:24):
I'm like what the year and see my opinion is
actually but that's all they'reoffered.
Speaker 3 (15:28):
I mean you.
I mean they don't have housesat a certain rate anymore, so
you kind of have to start at ata certain thing, you had to have
income to show that you canafford this house.
So I'm like or not, because,like with the predatory, well
there's that.
But then there's also when youmake this and they're I'm not,
I'm not for it or against it.
(15:49):
I'm gonna just say that, right,but what I'm saying is they'll
look at a base income andeverything else is not
considered right.
And then they say, okay, youqualify for.
You know this, this size houseand these people get in these
houses and they can't affordthem.
They can't keep it.
They can't keep it.
(16:09):
But honestly, depending onwhere you live and all of the
factors that go behind it,that's the setup.
The setup is to give you theloan because we know you're not
going to be able to keep it andwe're just going to get it back
anyway it's terrible.
Speaker 1 (16:19):
I mean my mortgage just went up 300 and I said,
mine just went up and I was likewell, they well when I learned
about it.
Speaker 2 (16:29):
But when you call the county the, county said well,
we haven't even put the tax outfor the year yet, because I
called the county because theysaid that my taxes had gone up
and I wanted to make sure Ihadn't missed.
Like, wait, now what's going on, did I?
Speaker 4 (16:42):
miss something.
Speaker 2 (16:43):
Did I pay my taxes Because?
Speaker 4 (16:44):
it's an escrow, but they took care of that right.
Speaker 1 (16:47):
So I called for that reason.
Speaker 2 (16:49):
And I said well, you know I was caught because you
know when my taxes have gone up.
She said, well, we haven't evenput the taxes out for the year.
Speaker 1 (17:00):
She said a lot of times your anticipate what's
coming through the analysis.
Speaker 2 (17:00):
Anticipate, because the taxes ain't even out yet.
Speaker 1 (17:02):
But then my homeowner's insurance doubled
from last year.
Speaker 2 (17:06):
Oh God, it doubled.
Speaker 3 (17:08):
Because of the housing market, the houses being
so high, everybody's price wentup, so the gas going to cost
more to cut.
Speaker 1 (17:18):
It's getting ridiculous.
Speaker 3 (17:19):
So they're basing it on the value of your house.
Everybody's value really haswent up, so the price is going
to cost more to cut.
Probably it's gettingridiculous.
So they're basing it on thevalue of your house.
Everybody's value really hasgone up, so they're basing your
taxes and everything on thevalue of your home.
Speaker 1 (17:27):
That's why I say, oh, then I'll be able to sell this
sucker for a pretty penny.
Speaker 4 (17:30):
then Then where do you go?
Because if you, rent.
Speaker 1 (17:33):
it's going to cost more, I know.
Speaker 4 (17:34):
And if you buy something else it's going to
cost even more.
Speaker 1 (17:37):
I've been talking to you about it and you're like,
just sit still and be quiet.
Speaker 2 (17:41):
Just sit still for a minute.
You'll know when it's time tomove.
I don't know what to do, butdon't make a rash decision,
because then that's how you getcaught up in that predatory
stuff.
Speaker 1 (17:49):
Yeah, I'm not even trying to pull nothing from the
lighting anymore.
Speaker 3 (17:54):
I ain't worried about that.
You know, there was a time whenwe thought, yeah, just ride it
out, and it's going to go downand everything I don't know.
Speaker 4 (18:02):
It is cyclical, though.
It goes up and down.
Speaker 2 (18:04):
Yeah, but it is cyclical, but at the same time
it's taking longer for thosecycles, right.
At the same time.
This is.
This reminds me of when thestock market crashed and this
was and I learned this from somerich folks.
When I started looking intoinvesting money, people were um,
I learned this from an investor.
He said I always know trueinvestors and people that are
(18:27):
not what they consider a realinvestor, he said, because a
real investor could care lesshow the market is doing.
You just ride it out.
No, no, no, no.
He said you don't ride it.
You don't ride it out.
A real investor makes money, nomatter if the market goes up or
down.
Mm hmm, it don't matter.
It don't matter what the marketis doing.
We were trained to be poor.
That's the difference.
(18:48):
We were trained to be poor whenone thing, you don't and
realize the market.
Remember when everyone waslosing their 401ks because
people told them to ride it out?
Why?
Why, you should have cashedthat money out the moment that
thing started dropping becauseyou were losing your money.
But a real investor and this iswhat I learned with money,
(19:10):
these are all my investingclasses and all that kind of
stuff a real investor makesmoney whether the market goes up
or the market goes down.
So are you familiar with youbuy a stock right, so we're told
to buy low, sell high right,because now that difference
between what you bought it forand what you sold it for makes
(19:32):
money right Now.
Listen to this Did you know youcan sell first before you buy
it?
What?
Speaker 1 (19:41):
No.
Speaker 2 (19:42):
Everything is digital .
Do you ever actually takepossession of a stock in your
hand?
So who said you had to buy itfirst?
Speaker 4 (19:49):
How can I sell?
Speaker 1 (19:49):
something I don't have.
Wait a minute that you don'thave, it's nothing but digital.
Speaker 2 (19:53):
It's just digital.
Speaker 1 (19:54):
So you finagling something.
Speaker 2 (19:55):
You can sell a stock, watch it drop and then buy it.
Do you get the same?
Spring it?
I don't know nothing about this.
Speaker 4 (20:05):
I'm getting confused.
Speaker 1 (20:06):
Which is why we have been trained to be broke.
I don't think you have to ownit.
Speaker 2 (20:12):
You don't have to own it first, because you never
take possession of it.
You never take possession of it.
Let's sell your car that never,took position.
Speaker 1 (20:25):
No, no, that's a that's a physical product but
digitally you.
That's a physical product okayokay, okay, okay, okay because
I'm so confused.
Speaker 3 (20:35):
We need okay, okay, yeah, because I'm thinking you
can sell like over the years andbuy later you can buy first and
sell later.
Speaker 2 (20:44):
You never take possession.
It's just a it, just it's justa.
It's digital, if that makessense.
Speaker 1 (20:50):
It don't.
Are you putting a damn paymenton it?
No, I'm not talking about ahouse.
Speaker 2 (20:54):
No, I'm talking about I'm still a layer I'm a layer
I'm a layer, I'm a bias and I'mtelling you this because I've
done it personally I know thatyou can do this.
I've learned this and you sayyou're gonna buy it.
I want to buy.
This stock right now is superhigh and this is why I say a
real investor could care lesshow the market is doing, because
(21:15):
a real investor is going tomake money, whether the market
goes up, it goes down or whetherit stays the same.
There's calls, there's puts,there's the bull market, there's
the bear market.
That's learning the market whenthere's parameters that you can
set.
Let's say the market nevermoves.
You can set a parameter thatsays here and here, while the
market is here in the middle andas long as it stays here in the
(21:38):
middle between these twoparameters, I make money.
That's the stock market you canset a parameter that says oh my
god, this stock is so high, it'santicipated to drop.
So guess what?
I'm gonna sell it up here high,because, remember, I don't take
possession of it and then itdrops and I'm gonna buy it.
Do I still get?
Speaker 4 (21:57):
the spread.
I understand.
So you're saying it's digitized, so whenever these things
happen, it's already set up todo that.
I'm not physically going in, Idon't buy it.
I don't buy it, I don't own ityet I don't.
Speaker 2 (22:06):
You don't have to, because you're never.
It's not like this fan that youhave to actually give me the
fan Automated is a better word,I'm a silk, I even buy it, but
that's what you're doing.
Speaker 4 (22:22):
No, no.
Speaker 2 (22:23):
But I can.
You have to read thecandlesticks and all that kind
of thing.
This is where you'reanticipating where the market
goes.
So if the market as you'reanticipating that the market is
going to drop, you will sell itfirst, because you're going to
(22:43):
sell it at a high price and youset that price, but no, the
price is already there inbetween.
Speaker 4 (22:45):
This is where you bought it.
Speaker 2 (22:46):
This is the current price where you bought it.
I'm anticipating that themarket is going to drop when it
hits this point.
Right here, buy it you stillcan't, they're still okay, yeah,
okay, okay, you just sold itfirst, yeah now the set, but
we've been trained, which is whya lot of people lost their
401ks when they they alreadyowned it here.
(23:08):
They should have cashed out andheld it right while it crashed
right, or now that you own, youown it here.
You can sit on it.
You can wait for the market togo back up.
Because did the market comeback up?
Speaker 4 (23:23):
you just said it's cyclical right?
Speaker 2 (23:24):
yeah, yeah it's a cycle, it's gonna come back up.
Why would you let your moneycrash?
Because they told you hold it,hold it, hold it.
Who told you that?
Because they didn't hold theirs, they cashed that money out,
held that until that marketstarted to turn back up and then
they bought it low and theysold it high.
But when the market started togo down, they sold it and then
(23:48):
bought it when it hit low.
Is it the same spread?
Yeah, same spread, don't matterwhich way the market goes.
Speaker 4 (23:54):
I sound like another class of conference.
Speaker 2 (23:56):
Should we just shut?
Speaker 4 (23:56):
up.
Speaker 3 (23:57):
I'm telling you, it doesn't matter and you know how
long I've done it and I I didn'tlose because, but I had people
who yeah, right, right, you havesomeone that does so they was
like no, because I wanted topull out.
But they was like, no, hold it.
So that's what I was talkingabout, not that whole thing.
You would.
You know you were saying, butthey was like, no, don't touch
your stock, leave it.
(24:17):
But they invested it and didall the numbers and stuff.
I don't know what they do, butI know I never lost over the
years.
Speaker 2 (24:24):
And so that's why I said my view of how do you
survive in this market.
I'm going to tell you right nowit's going to be the most
millionaires ever made.
While Donald Trump is in office, this is going to be the time
of this is the boom ofmillionaires.
First of time of this is theboom of millionaires.
First of all, let's just keepit 100, and this is this is
going to be controversial.
Speaker 1 (24:45):
It's going to be controversial, in my opinion.
Speaker 2 (24:48):
I'm not saying donald trump is racist or not racist,
because you know, you got thatover the place, but what I can
tell you is he's elitist, he'sfor the rich, so the things that
he is setting in place are toprotect people with money, to
help you get more money.
What you got to do is figureout how you get in that line,
and the one thing I can say,even though it's tough for young
(25:08):
people nowadays, it's easierfor young people.
Nowadays.
You have more youngmillionaires.
You have young, youngmillionaires under 30, because
they have options that we didnot have then, and you have even
people our age.
How many digital contentcreators are our age now?
She's just showing her fashion.
(25:29):
She's 75 and she got a millionfollowers.
We have options.
One thing I think about us weget set in our ways because we
don't know and a lot of us arenot willing to learn other ways,
or we are used to doing thingsout of habit, because this is
the way we've always done it.
We don't change and evolve withthe times.
Speaker 4 (25:50):
You talk about that a lot pivoting.
Speaker 2 (25:51):
Yes.
Speaker 4 (25:51):
You've got to be.
There's a lot of people whodon't.
Speaker 3 (25:54):
You've got to pivot.
They're stuck in their ways.
Speaker 2 (25:56):
This is the age of millionaires right now, which is
why, you see, which is yeahthey got an $800,000 house.
Speaker 3 (26:04):
I would really like to know the numbers because they
well, you're saying that, butwe say a lot Like people say a
lot, yeah, and they're on socialmedia saying what they have and
they in debt, sleeping in cars.
Not everybody, Lord, oh no it'sa lot of fake folks, so like
while we say that I, I wouldlike to see, I would just like
(26:26):
to really understand that andknow it and say it, you know?
I mean like how we were sayingthat the age group from which
you could tell of the peoplethat watch our show is not the
40 plus, it's really.
Speaker 2 (26:37):
But that's the, that's the analytics.
There you go the analytics, solike, while you say that and I
hear plus, it's right.
But that's the, that's the theanalytics.
Speaker 3 (26:40):
There you go, the analytics.
So like, while you say that andI hear you, it's like how true
is that really?
Like I want to know that.
Yeah, because I kind of want toknow that.
Speaker 4 (26:50):
Yeah, I've looked at it but think about you, do you
go on youtube and watch videosall day?
Younger kids they go and theywatch videos all day.
Speaker 3 (26:56):
No, I get it.
I get it and I understand thenumbers and the analytics.
Speaker 2 (26:59):
It is it's the numbers and I'm gonna bring.
I hate that I didn't think yeahbecause I didn't know we were
going down this path we lovey'all for watching right thank
you that I would have had.
I would have had the numbers,but I just think that they have
there's so many more options forthem to do.
They ain't gotta leave home.
Yeah, I ain't trying to findout, I don't have.
Even now, I don't have to leavemy house.
When I leave my house, I losemoney.
(27:20):
When I leave home, my money issitting right around the corner.
Speaker 4 (27:24):
In the computer.
Speaker 2 (27:25):
yeah, you know what I'm saying On that desk, on that
computer.
That's where my money's at, andso a lot of young people.
I just think there are a lot ofoptions.
So the economy is hard, butthey're learning how to make
money.
Speaker 4 (27:45):
You.
Speaker 2 (27:45):
The economy is hard, but they they're learning how to
make money you know how manyyoung people are in real estate
right now.
We were so happy to own our onelittle house that we live in,
which is a liability and not anasset.
You know, I'm saying likethey're learning how to airbnbs
do these things right it's a lotof young people, but all of
that is starting to crash toowell, that's because the the
market is crashing but I'm gonnatell you one thing is never
gonna crash people always gottahave somewhere to live.
People always gonna have to eat.
You know I'm saying, whetheryou're in now, you may not that
(28:08):
maybe the luxury market is gonnaget hit worse or whatever.
But guess what?
It's gonna end.
Speaker 4 (28:13):
So much of a need for low-income housing now, whether
or not we're gonna have a, agovernment organization anymore
about low income housing, Idon't know, but that ain't gonna
take the fact away that there'sgonna be a lot of people in a
place to live, so you have a lotof people in real estate.
Speaker 2 (28:31):
But I just think we just get so set as being older.
We were taught the nine to five.
We were taught to go get a job.
We were taught to stay therefor forever and we don't have
not diversified.
Yeah, because we we relied onour 401ks, we relied on our
pensions, we relied on all thosethings and then the government
(28:51):
came in and started wiping thatout.
For a lot of people and a lotof people, especially our age,
there's not a such thing as anew job.
You know what I'm saying.
But in this day and time you'vegot to pivot and you have to
learn to diversify.
I have my hands in so many hatsright now.
I'm all over the place.
I ain't going to lie to you, Iain't got a handle on none of
(29:12):
them.
I was like you've got to get meout of this, I've got to do
this, I got to do that, I got todo this.
I got to do that why?
Because I've been anentrepreneur for 20-something
years.
There is no 401k Right.
Speaker 4 (29:25):
I can't say I'm retired today and there's a 401k
sitting right here If you arean entrepreneur you need to
start getting your Roths,especially at a young age.
Speaker 2 (29:35):
Start putting that money away for a while you got
to start creating your own 401ks.
Speaker 3 (29:40):
They do now have 401ks for your insurance your
health insurance.
Speaker 2 (29:47):
You got to learn how to pivot, and if you don't do
nothing else, you got to learnhow to diversify.
Look how people lost theirfreaking mind.
What was that that went downfor one day?
Tiktok, was it TikTok?
Speaker 3 (29:57):
or Instagram.
It was TikTok, it went down forone freaking day.
You see those people was losingtheir money.
Because a lot of people getpaid off of TikTok too, but
guess what?
Speaker 2 (30:07):
TikTok wasn't here 10 years ago.
Tiktok might not be here 10years from now.
Speaker 4 (30:11):
So you need to make your money from TikTok now.
Speaker 2 (30:14):
You need to be making your money from TikTok now, but
what you doing with that money?
Right, that's what counts moneyfrom TikTok now, but what
you're doing with that money,because when that's not here
anymore, whatever the next bestthing is, you need to be trying
to figure out how to make thatmoney.
Make money.
Speaker 3 (30:28):
That's the thing, and not spend it as you get it.
And that's the other thing thatwe're talking about, there's a
lot of whatever.
I guess they're millionairesbecause they bring the millions
in, but they're not reallymillionaires because these folks
don't know how to save theirmoney.
Speaker 2 (30:43):
You get what I'm saying, like they don't invest,
you might be a millionaire.
Speaker 3 (30:46):
On paper they're on paper, but they don't know how
to invest their money, to thepoint that you was talking about
.
They can't even buy aninsurance policy, they get sick,
they land up somewhere, but I'ma millionaire, you know.
Know, like all of these things,this happened and it just
(31:06):
doesn't make sense.
So, like, just, I'm not caughtup in the hype.
I'm not caught up in a hype, soI would like to see that, just
because I'm like, uh, that soundgood and it may be true, I'm
not like negating the youngpeople out there and saying that
that's not happening but wehave to be very careful, like we
.
We have to learn and understand,especially for the younger
generation.
Now that you're bringing it in,what do you get in?
(31:29):
You know because I see youraudi right you know what I mean.
And I see your nice cars and Isee you at the club throwing
millions of dollars on, but likethat's why you do something
else.
Speaker 2 (31:40):
Athletes are broke they got all those millions of
dollars because it's a it's it'sa millionaire mindset.
You can give a broke man allthe money in the world if he
don't know what to do with it,he still.
Speaker 3 (31:51):
The lotto is a good example and I ain't trying to be
funny.
Speaker 2 (31:53):
Look, I've had money in my life.
I've been broke right behind it.
I had a little money beforeI've been broke right behind it.
Hello money before I've beenbroke right behind it again and
I just brought up Jesus.
I'm learning lessons you knowI'm learning when you decide to
bless me with that real big onethe next time but I'm ready for
(32:19):
you this time, because youdidn't know.
Speaker 3 (32:21):
The financial literacy Right.
Speaker 2 (32:23):
That financial literacy you didn't know, so
that's why I say, in thiseconomy this economy is tough
and it's hard, but one you havegot to learn how to pivot, yeah
and you have to learn how todiversify, because guess what?
Speaker 3 (32:45):
people gonna stop traveling y'all.
Oh yeah, they are.
I'm gonna be good but they areright.
Speaker 2 (32:47):
Right, but my travel business is my life yeah, yeah,
yeah so why, why, why do youthink I'm doing all these
different?
Speaker 4 (32:53):
things yeah, yeah I ain't doing it because I like
running around, I'm doing it sowhen this goes down, you're
another bag.
Speaker 3 (32:59):
Yeah, because when you can't afford to live.
You ain't trying to travelhello, that's true.
Speaker 2 (33:04):
So what happens when my travel business goes down?
You?
better have something else youbetter have something else.
You can't wait till it crashand then try to figure out what
to do, because now I'm in, I'min turmoil.
So, yeah, I'm, I'm buying someproperties.
Yeah, let me build some housesand put some people in it.
(33:24):
You know what I'm saying.
Yeah, let me look at the stockmarket.
Whether it goes up or it goesdown, I need to know how to make
money, no matter whichdirection that stock market goes
.
That's why I study, that's whyI read, that's why I don't took
so many people.
Classes is absolutely absurd,and one of the best things that
ever happened was years ago.
I took um rich dad, poor dad,robert kiyosaki.
He has people all over thecountry that teaches different
(33:46):
things about investing.
This frail looking older whiteman walked in.
He looked all scruffy andeverything.
The class was full and itlooked like a people.
A lot of people that look likeus were in the class and the the
gentleman walked in and we waslike, oh, is that the instructor
?
Because we judged him by how helooked.
Yeah, that man had way more ifyou added all our stuff together
(34:08):
we didn't have half if youadded all of us together, we
didn't have a third.
And he said I make a couplehundred thousand dollars a month
.
Because he looked scruffy,everything and what he did was
and this was at the time whenthey he projected it up on the
thing, he typed in whatever onthe computer and it showed up on
(34:29):
the screen.
And he opened one of hischecking accounts and he said he
.
All he said was I make a couplehundred thousand a month.
See, now we're looking atnumbers on the screen and we're
like, um, okay, I guess he's forreal.
Yeah, I guess he's for real.
So he said you know, when Istarted investing in real estate
, he said he, he made twohundred and something thousand
(34:51):
dollars a year.
He said, and I was in debt, Istill lived paycheck to paycheck
.
Because you think, we think, oh, you make six figures six
figures ain't the same, no more,he said why he said because my
house got bigger.
Yep, my car has got moreexpensive.
My wife needed an expensive car, the kids are now in private
school, you know.
So I didn't make 200 000 andmaintain that same level that I
had when I was broke.
My expenses went up, so I'mstill living paycheck to
(35:14):
paycheck.
But he said what I had was goodcredit, so we gonna talk about
your credit.
What I had was good credit, sowe don't talk about your credit.
What I had was good credit.
So I was able to get a line ofcredit.
So he took the line of credit$100,000, and he learned how to
invest his $100,000.
He said and at the time mymonthly payment was like $400,
$500, let's say $500 a month.
(35:36):
He said now I make a couplehundred thousand dollars a month
.
He said now I make a couplehundred thousand dollars a month
.
He said now, what do you thinkI did with that $100,000 loan?
He put it in the stock market,didn't he?
No, he got a bill.
He got to pay that $100,000back.
Speaker 4 (35:52):
He made a couple hundred thousand a month and
most people were like, oh shoot,he was able to pay that off
real quick.
Speaker 2 (35:58):
He said I will never pay them back what I will every
month pay $500 a month untilit's paid off.
I will never give you that lumpsum, but it helps keep your
credit going too Well, one ofthe reasons why he did it.
He said, and I promise you thisscruffy man, he said and that's
why y'all broke he was like Iknow you, Okay, yeah, he right.
(36:18):
Let.
He was like I know you, okay,yeah, he right.
Let me hear what he got to say.
He said because if I took ahundred thousand dollars,
because I could pay them ahundred thousand dollars right
now to pay that loan off butthat hundred thousand dollars.
He could stick that hundredthousand dollars and go make
another three hundred and fourhundred thousand over here with
that same hundred thousanddollars he was gonna pay back.
He said I will forever pay themfive hundred dollars a month.
(36:40):
I will never give you a hundredthousand dollars in a lump.
I don't care if I make amillion dollars a month, that
hundred thousand dollars isgonna best roll over 10 times by
the time.
I give you all that money, thatthat lump sum of money back.
He said.
It's a mindset.
We are taught to be broke.
We're taught to hold it foreverwhile you watch it crash
(37:04):
Because somebody told you tohold it, he said.
But the rich people didn't holdtheirs, they didn't lose a lot.
They cashed it out, froze for aminute when it moved again.
Then they put it back in.
But we were taught to hold it.
You've got to learn financialliteracy.
And you've got to learn how topivot and you have to learn how
to diversify.
Speaker 4 (37:24):
Where do you get that information from?
Speaker 2 (37:26):
We're going to get us some workshops.
Speaker 4 (37:29):
We're going to set up some workshops.
That's a whole class we haveinsurance one-on-one, we've got
to do financial literacy.
Yes, like y'all say, if you youhave it, you need to enjoy it
with everybody.
You want to bring everybodyelse with you.
Speaker 2 (37:43):
so that's you know.
And then that's another thingyou got to learn that you can't
bring everybody.
Everybody can't come on theride.
I'm always looking to bettermyself and to learn.
(38:06):
I would love to do things as agroup and do things as a whole
Like we always say it ain't nofun, you don't want to be the
only one.
You want to bring your friendswith you, your circle with you.
But you have to also realizeyou can't bring it.
But anyway we can sit here andtalk about this forever y'all.
I'm glad y'all.
Good for now, yeah.
Speaker 4 (38:26):
But we about to sign up for this class, though we
about to be rich, we about todiversify and pivot as well, but
anyway, this is Laverly.
This is Stephanie.
This is you.
Speaker 2 (38:40):
This is.
Speaker 4 (38:41):
Stephanie, this is you.
This is Evania and we gonnakeep on spilling the tea on your
money, honey.
One laugh at a time.
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