January 26, 2024 • 22 mins
It's time to change the narrative of black women in business. Join me, Dr. Mary L. Boy, as I reveal how black women can shatter those income glass ceilings and turn savings into wealth that lasts into retirement. There's a difference between saving and investing, and I'm giving you the strategies to manage those finances with finesse, so you can make sure your golden years are filled with joy, not a continued daily grind.
This episode is far more than financial advice; it's about starting a movement of empowerment and community for black women. We'll also get into the world of life insurance policies with me, and becoming your own bank. Join me on this journey, and let's walk together diva!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey y'all.
Hey, it's your girl, dr Mary LBoy, the reposition specialist.
You are listening to the WalkDeva Walk podcast.
This podcast is for you, thewoman, specifically the black
woman, who's had enough.
Enough of saying no to yourkids because you can't afford it
.
How about robbing Peter to payPaul, working two or three jobs
(00:25):
just to make ends meet?
Enough of running from yourGod-given purpose and enough of
just being sick and tired ofbeing sick and tired.
On this journey.
With the Walk Deva Walk podcast, I will help you overcome your
past, face your present and walkinto your God-given, purposed
(00:46):
future, so you can support yourfamily the way that you desire,
live in abundance and overflow.
Live birth to that God-givenpurpose, giving birth to your
dreams and desires.
How about travel and experiencethe world in ways that you and
your family will never forget?
(01:07):
Have joy and peace so you canlive.
Are you ready?
Let's walk.
Hey Deva, hey Listen, we arestill talking about money.
I call it money talks.
And we have already talkedabout making your money, your
(01:27):
shmoney, your mula right.
Yes, you know what to do to getit done.
And then we have talked aboutmanaging the money that you make
.
But after you've done that?
What about saving?
Right?
How do you save your money?
Because you sit here and youwork hard.
You work nine to five and yourproblem is that you turn around
(01:52):
and say, where did the money go?
I'm not saving anything.
I don't have anything for thefuture.
Oh God, I have to work untilI'm 110, right, because I'm not
going to be able to afford toretire.
I'm 30 years old, I'm 40 yearsold, I'm 50 years old and
retirement is nowhere in thefuture, and that's a problem.
(02:15):
I have 401K, but that's up anddown and it really isn't doing
anything.
Like what am I going to do?
And just putting some money ina savings account in a bank
that's earning me.0001%?
What is that going to do for me?
I know that's you.
I know it's going through yourmind because it went through
(02:36):
mine.
In early 20s, early 30s.
I was already saying I do notwant to work for nobody for the
rest of my life.
I do not want to be 70 yearsold and no shade, but a Walmart
(02:56):
greeter right after retirement.
I had to retire to get a job atWalmart because my retirement
wasn't enough, because I didn'tsave or I didn't invest my money
so my money could make moneyfor me.
Like, what are we doing?
And I knew stuff like that.
I'm telling you that hairs onthe back of my neck would stand
(03:19):
up straight, because I just hadto sit and in my profession at
that time, when I was doingrecruiting, I was just like do I
really want to do this for thenext 30 years?
Do I want to do this for thenext 40 years?
(03:39):
And what's my plan?
Is my 401k going to get it done?
No, right.
Do I have money anywhere else?
No, I don't.
So what's the answer?
What is the answer?
Everything.
(04:00):
Everybody tells you oh, openthe bank account, put some money
in there, but really, what isit doing for you?
Nothing.
And so when we talked aboutmanaging money, if you have not
listened to that episode, go andlisten to it.
Okay, it's going to change yourlife.
And when we talked aboutmanaging money, we talked about
(04:20):
how to understand and know yournumbers, know where they are,
know how much you're making,know what your expenses are,
know what you have left over andknow what you're doing with it.
And so that left over moneythat you have just like do I
save it?
Don't I save it?
Do I spend it?
(04:41):
Do I invest it, what do I do?
And there's a difference betweensaving and investing, two
totally different things.
But because when you invest,you expect a return.
Who doesn't?
When you invest, you expect areturn and the idea what we have
(05:03):
been sold, the idea that wehave been sold is you make your
money.
You put your money in a bankaccount, your money sits there,
it earns.0001% interest and youknow it's your rainy day fund,
(05:24):
they would call it.
And everybody should havesomething in the bank money that
they can get to quickly for anemergency, okay, but not for you
to save money.
That's going to take you intoretirement.
That's not what it is andunfortunately, a lot of people
(05:44):
don't know what to do.
Hear me and hear me.
Well, you have to listen to meon this, diva.
You cannot just save money.
I know I said we're talkingabout saving, but saving in a
different manner is going totake your mind somewhere else in
(06:05):
order for you to be able to dothis.
But you have to do it Becauseif you don't, you're not going
to be able to retire and you aregoing to work forever, until
the day you die.
So if you retire, you're notgoing to be able to live the
life that you want to liveduring your retirement age.
(06:28):
And the way that age ishappening now, right, it's like
50s, the new 40s, 60s, the new50s everything is 10 years back,
because people are feelingyounger in their senior years.
Like you see, people that are70 years old, they don't look 70
anymore, right, and that'sbecause the life that they're
(06:50):
living some people aren't.
They're like I'm not working,just the work.
I want to do more.
My health is more important,people are dying off and I have
to do better, and so they'reliving a different type of life.
Well, if you want to live adifferent type of life as well
in retirement, you have to learnhow to save differently.
(07:12):
Okay, you have to learn how tosave differently, and there are
so many different avenues.
But I'm going to talk to youabout one, and in the black
community, it's one that we shyaway from.
We feel we don't need it, wefeel like we're throwing our
(07:35):
money away with it and we're sowrong, and it's life insurance.
I bet you didn't think I wasgoing to say that it is life
insurance and you like marriedlife insurance.
Yeah, see, in the blackcommunity, y'all know when
people start talking about lifeinsurance, the old folk, they
(07:58):
were like oh, I ain't talkingabout that, that's death
insurance, that's deathinsurance.
Oh, as soon as you talk aboutthat, you're going to kill over
and die, like, really, is thiswhat we're doing right now?
No, you're not, and thisconversation is not had in our
families at all, and the onlylife insurance that we may have
(08:21):
is the one through our jobs,that our jobs pay for.
But what happened when you loseyour job?
What happens when your job isno longer there?
So then we say, well, I'm goingto buy the cheapest thing
possible and I'm going to getterm life insurance and I'm
going to pay $20 a month, andthat's it.
$25 a month, $30 a month, andI'm going to be good.
(08:44):
Well, most term life insuranceis the 30 years is the standard.
But what happens if you livepast that 30 years?
So you've just paid for 30years worth of life insurance.
You didn't die, you didn't useit, it's termed, which means it
(09:05):
expires and you have nothing toshow for it.
Now you have to get moreinsurance.
Well, now you're 30 years older, the qualifications are a
little different.
You got to be testing.
Your health is not as great asit was 30 years prior.
(09:25):
And so here you are and you mayor may not be able to get it, so
you need to save throughavenues like whole life
insurance or universal indexlife insurance.
There are two different ends ofthe spectrum.
I'm going to for my parents outthere that are parents to
(09:52):
newborns y'all have infants andtoddlers get you an IUL index
universal life insurance policynow for your baby.
You are going to save yourselfso much grief, so much stress
(10:17):
when it comes to when your childgets older and need to go to
college, need a car, thedifferent things.
If you start now, you canpotentially get an IUL for your
baby at $50 a month.
(10:38):
By the time that they're 18,you could have a half a million
dollars of cash that you cantake out of that policy.
That policy will help you getthat car you wanted.
That policy can help pay forcollege.
(10:59):
That policy can help pay forroom and board if they're going
away to school.
It can help with so much.
These are things that's nevertalked about and that we don't
know about.
And then we find ourselves assingle moms Again.
(11:21):
I was that single mom before Igot married and I didn't know
better.
Nobody told me better.
Let me tell you I worked for acompany for 10 years and
probably three maybe my secondyear there, because I remember
(11:41):
my son was about three years oldmy second year there and they
had this company come in andthey brought us all in a room
and talked about 401K and theypresented the 401K options that
the company was going to behaving and they were matching.
The company was matching 100percent.
(12:02):
You know what?
I walked out of that room andsaid I can't do no 401K.
I need my money, I need all mymoney.
I don't have it to give themanything.
I worked for 10 years for thatcompany and never got 401K
(12:26):
because I didn't know any better.
Now I only would advise anybodyto.
Let me say this I am not afinancial advisor.
This is just what my experienceis.
I'm telling you my experience.
I only would advise anybody toso into a 401k, if you will.
(12:50):
If your company is matching100% of their not matching 100%,
then I wouldn't even worryabout it, because there are so
many other products out therethat can do you better.
And no, I'm not an insuranceagent either.
I just have learned so much inthis money game that we are not
taught, we're just not taught it.
(13:11):
I am determined to teach ourcommunity, our sisters, because
it's a lot of us that are single, that have children, that are
trying to make it and we justdon't know what to do.
But again, it's the shift inmindset Because even though I
said that I couldn't afford $50,even $50 or $100 a month in
(13:39):
paying into this 401k, but yet Icould go out and buy the next
new outfit, then those days Iwas clubbing, so I could go out
to the club and spend $100.
I can do all the other thingsto spend money that don't bring
(13:59):
me any type of return, but mymindset wasn't to invest money
so my money can make money forme.
And when I left that job Icould have easily, over 10 years
, I could have had about $40,$50,000, even more if I was
(14:20):
going to put more.
But if I would have stayed atthat $50 a paycheck or $100 a
paycheck I could have been at$40 to $50,000.
Well, when I left, that couldhave rolled over into something
else.
And I'm telling you this wasfrom 1995 through 2004.
(14:44):
1995 to 2004.
Yeah, that was like nine years,it was almost 10 years.
And imagine if I would havetaken that money and put it in
something else in 2004,.
We're here now.
(15:04):
What, 19 years later, what that$40,000 could have potentially
turned into 19 years later?
But I didn't know and nobodytold me.
So I'm telling you you have tolearn these things.
You cannot be afraid ofinvesting your money.
(15:28):
You cannot, and so whole lifepolicies Whole life policies
give you a death benefit and acash value to it.
And because you are the waythat the policy is set up and no
policy is the same.
It depends on your situationand you really need to talk to
(15:50):
an agent to go through thisprocess.
However, as your policyaccumulates cash value, you can
take that money, borrow thatmoney from yourself.
You're here term infinitebanking.
You're here a term become yourown bank.
(16:11):
This is a path to wealth, andso you can borrow from yourself.
So when you need that downpayment for the house that
you're trying to get, when youneed the down payment for the
car, when you need tuition, ahouse emergency, whatever it is,
you become your own bank, andyou borrow from yourself when
(16:36):
you pay yourself back Ininterest.
So not only have you made moneythrough this type of product,
but your money also made moneyfor you, because the interest
that you're paying yourself isyours.
I know you like what, mary, youlike?
Wait, wait a minute.
(16:57):
What are you saying to me rightnow?
Yeah, and I can't give it allaway right now to you we're
going to do another episode andunderstanding this process, but
I'm telling you it is amazing,and imagine setting your child
(17:19):
up in a type of policy that theycan have all the way, you know,
forever, and you turn it overto them and they're making a
payments on it because they'reyoung adults now, and that
policy now is a million dollarpolicy.
It has a million dollar deathbenefit.
It has, you know, six, sevenhundred thousand dollar cash
(17:42):
value and instead of renting anapartment paying $2,000 a month,
they can actually buy their ownhome, a hundred percent debt
free, $150,000, because theyknew first home, they don't need
a lot, right?
A hundred and fifty thousand,two hundred thousand, and
(18:02):
they're debt free and they ownit all home.
If I would have known then whatI know now, things would be so
different, and so that's why I'mdetermined to shout it from the
rooftops to you the one that'sworking at a job can't figure it
out, struggling, don't knowwhat to do.
(18:24):
Don't have anybody to really bestraight with them and say stop
spending your money onfrivolous things.
As far as investing your moneyuntil you can go back to spend
your money on frivolous thingsbecause you have so much of it,
it don't matter, right?
We all want to get to thatplace, but that's where it
(18:45):
starts.
And so to you woman, blackwoman, mother this is what you
need to do, this is what youneed to have, this is what you
need to start looking into andinvesting into.
That's a different way ofsaving.
So you see the difference fromputting a hundred dollars two
(19:08):
hundred dollars in a bankaccount Bank of America, wells
Fargo, whoever and trying tohope that it builds up and at
the end of the year you'veearned sixty cents, versus
paying two hundred dollars in avehicle, where, in your first
year, your cash value is threethousand dollars, in the second
(19:29):
year, your cash value is tenthousand dollars in the third
year, and now you can borrowmoney from yourself.
Probably never heard of it,right?
I know I was shocked when Iheard of it too, but it's
possible and it's there, andthere are so many other ways to
have the life that you want tolive.
So this is what I need you todo right now.
(19:53):
I need you to.
You're going to click the linkbelow and it's going to take you
to some resources where you canabsolutely talk to a
professional, look at youroptions and start your journey
of the different type of savings.
You're going to invest to save,not save in the old,
(20:18):
traditional way.
It's not going to work.
You're going to do what thewealthy do.
I have learned the tricks ofthe trade.
Click the link below and findout more.
So I love y'all.
I want to see you wealthy.
I want to see you on the otherside of money.
I'm telling you it is there foryou for the taking.
(20:38):
Let's go get it.
I love y'all.
Ain't nothing you can do aboutit.
Be blessed, live on purpose andwalk All right.
Divas, what an episode.
Did I hit you in the head withone of those bricks?
Did you go out?
Did you have the ducking cover?
I know you went running aroundthe house checking for cameras,
(21:01):
looking under the bed, lookingout the window to see if I was
watching, because I was all inyour business.
I was on your street and inyour lane.
It's okay, though.
It lets you know that you'renot alone.
I hope that something that youheard resonated with you and, as
(21:22):
a result, you are starting toreposition your mind so you can
have the life that you want tolive.
Now.
That's not all I have for youguys.
Not just what was in thepodcast, but now I want to give
you a gift.
Go to wwwstopdrowningandwincom.
Wwwstopdrowningandwincom.
(21:49):
To receive the seven stepsevery black woman must take this
year to break free and live herdreams once and for all.
You will also have anopportunity to connect with our
community Again.
You are not alone.
The work is just beginning.
Are you ready?
(22:09):
Let's walk.
Hey y'all.
Hey, it's your girl, dr Mary LBoy, the reposition specialist.
You are listening to the WalkDeva Walk podcast.
This podcast is for you, thewoman, specifically the black
woman, who's had enough.
Enough of saying no to yourkids because you can't afford it
.
How about robbing Peter to payPaul, working two or three jobs
(00:25):
just to make ends meet?
Enough of running from yourGod-given purpose and enough of
just being sick and tired ofbeing sick and tired.
On this journey.
With the Walk Deva Walk podcast, I will help you overcome your
past, face your present and walkinto your God-given, purposed
(00:46):
future, so you can support yourfamily the way that you desire,
live in abundance and overflow.
Live birth to that God-givenpurpose, giving birth to your
dreams and desires.
How about travel and experiencethe world in ways that you and
your family will never forget?
(01:07):
Have joy and peace so you canlive.
Are you ready?
Let's walk.
Hey Deva, hey Listen, we arestill talking about money.
I call it money talks.
And we have already talkedabout making your money, your
(01:27):
shmoney, your mula right.
Yes, you know what to do to getit done.
And then we have talked aboutmanaging the money that you make
.
But after you've done that?
What about saving?
Right?
How do you save your money?
Because you sit here and youwork hard.
You work nine to five and yourproblem is that you turn around
(01:52):
and say, where did the money go?
I'm not saving anything.
I don't have anything for thefuture.
Oh God, I have to work untilI'm 110, right, because I'm not
going to be able to afford toretire.
I'm 30 years old, I'm 40 yearsold, I'm 50 years old and
retirement is nowhere in thefuture, and that's a problem.
(02:15):
I have 401K, but that's up anddown and it really isn't doing
anything.
Like what am I going to do?
And just putting some money ina savings account in a bank
that's earning me.0001%?
What is that going to do for me?
I know that's you.
I know it's going through yourmind because it went through
(02:36):
mine.
In early 20s, early 30s.
I was already saying I do notwant to work for nobody for the
rest of my life.
I do not want to be 70 yearsold and no shade, but a Walmart
(02:56):
greeter right after retirement.
I had to retire to get a job atWalmart because my retirement
wasn't enough, because I didn'tsave or I didn't invest my money
so my money could make moneyfor me.
Like, what are we doing?
And I knew stuff like that.
I'm telling you that hairs onthe back of my neck would stand
(03:19):
up straight, because I just hadto sit and in my profession at
that time, when I was doingrecruiting, I was just like do I
really want to do this for thenext 30 years?
Do I want to do this for thenext 40 years?
(03:39):
And what's my plan?
Is my 401k going to get it done?
No, right.
Do I have money anywhere else?
No, I don't.
So what's the answer?
What is the answer?
Everything.
(04:00):
Everybody tells you oh, openthe bank account, put some money
in there, but really, what isit doing for you?
Nothing.
And so when we talked aboutmanaging money, if you have not
listened to that episode, go andlisten to it.
Okay, it's going to change yourlife.
And when we talked aboutmanaging money, we talked about
(04:20):
how to understand and know yournumbers, know where they are,
know how much you're making,know what your expenses are,
know what you have left over andknow what you're doing with it.
And so that left over moneythat you have just like do I
save it?
Don't I save it?
Do I spend it?
(04:41):
Do I invest it, what do I do?
And there's a difference betweensaving and investing, two
totally different things.
But because when you invest,you expect a return.
Who doesn't?
When you invest, you expect areturn and the idea what we have
(05:03):
been sold, the idea that wehave been sold is you make your
money.
You put your money in a bankaccount, your money sits there,
it earns.0001% interest and youknow it's your rainy day fund,
(05:24):
they would call it.
And everybody should havesomething in the bank money that
they can get to quickly for anemergency, okay, but not for you
to save money.
That's going to take you intoretirement.
That's not what it is andunfortunately, a lot of people
(05:44):
don't know what to do.
Hear me and hear me.
Well, you have to listen to meon this, diva.
You cannot just save money.
I know I said we're talkingabout saving, but saving in a
different manner is going totake your mind somewhere else in
(06:05):
order for you to be able to dothis.
But you have to do it Becauseif you don't, you're not going
to be able to retire and you aregoing to work forever, until
the day you die.
So if you retire, you're notgoing to be able to live the
life that you want to liveduring your retirement age.
(06:28):
And the way that age ishappening now, right, it's like
50s, the new 40s, 60s, the new50s everything is 10 years back,
because people are feelingyounger in their senior years.
Like you see, people that are70 years old, they don't look 70
anymore, right, and that'sbecause the life that they're
(06:50):
living some people aren't.
They're like I'm not working,just the work.
I want to do more.
My health is more important,people are dying off and I have
to do better, and so they'reliving a different type of life.
Well, if you want to live adifferent type of life as well
in retirement, you have to learnhow to save differently.
(07:12):
Okay, you have to learn how tosave differently, and there are
so many different avenues.
But I'm going to talk to youabout one, and in the black
community, it's one that we shyaway from.
We feel we don't need it, wefeel like we're throwing our
(07:35):
money away with it and we're sowrong, and it's life insurance.
I bet you didn't think I wasgoing to say that it is life
insurance and you like marriedlife insurance.
Yeah, see, in the blackcommunity, y'all know when
people start talking about lifeinsurance, the old folk, they
(07:58):
were like oh, I ain't talkingabout that, that's death
insurance, that's deathinsurance.
Oh, as soon as you talk aboutthat, you're going to kill over
and die, like, really, is thiswhat we're doing right now?
No, you're not, and thisconversation is not had in our
families at all, and the onlylife insurance that we may have
(08:21):
is the one through our jobs,that our jobs pay for.
But what happened when you loseyour job?
What happens when your job isno longer there?
So then we say, well, I'm goingto buy the cheapest thing
possible and I'm going to getterm life insurance and I'm
going to pay $20 a month, andthat's it.
$25 a month, $30 a month, andI'm going to be good.
(08:44):
Well, most term life insuranceis the 30 years is the standard.
But what happens if you livepast that 30 years?
So you've just paid for 30years worth of life insurance.
You didn't die, you didn't useit, it's termed, which means it
(09:05):
expires and you have nothing toshow for it.
Now you have to get moreinsurance.
Well, now you're 30 years older, the qualifications are a
little different.
You got to be testing.
Your health is not as great asit was 30 years prior.
(09:25):
And so here you are and you mayor may not be able to get it, so
you need to save throughavenues like whole life
insurance or universal indexlife insurance.
There are two different ends ofthe spectrum.
I'm going to for my parents outthere that are parents to
(09:52):
newborns y'all have infants andtoddlers get you an IUL index
universal life insurance policynow for your baby.
You are going to save yourselfso much grief, so much stress
(10:17):
when it comes to when your childgets older and need to go to
college, need a car, thedifferent things.
If you start now, you canpotentially get an IUL for your
baby at $50 a month.
(10:38):
By the time that they're 18,you could have a half a million
dollars of cash that you cantake out of that policy.
That policy will help you getthat car you wanted.
That policy can help pay forcollege.
(10:59):
That policy can help pay forroom and board if they're going
away to school.
It can help with so much.
These are things that's nevertalked about and that we don't
know about.
And then we find ourselves assingle moms Again.
(11:21):
I was that single mom before Igot married and I didn't know
better.
Nobody told me better.
Let me tell you I worked for acompany for 10 years and
probably three maybe my secondyear there, because I remember
(11:41):
my son was about three years oldmy second year there and they
had this company come in andthey brought us all in a room
and talked about 401K and theypresented the 401K options that
the company was going to behaving and they were matching.
The company was matching 100percent.
(12:02):
You know what?
I walked out of that room andsaid I can't do no 401K.
I need my money, I need all mymoney.
I don't have it to give themanything.
I worked for 10 years for thatcompany and never got 401K
(12:26):
because I didn't know any better.
Now I only would advise anybodyto.
Let me say this I am not afinancial advisor.
This is just what my experienceis.
I'm telling you my experience.
I only would advise anybody toso into a 401k, if you will.
(12:50):
If your company is matching100% of their not matching 100%,
then I wouldn't even worryabout it, because there are so
many other products out therethat can do you better.
And no, I'm not an insuranceagent either.
I just have learned so much inthis money game that we are not
taught, we're just not taught it.
(13:11):
I am determined to teach ourcommunity, our sisters, because
it's a lot of us that are single, that have children, that are
trying to make it and we justdon't know what to do.
But again, it's the shift inmindset Because even though I
said that I couldn't afford $50,even $50 or $100 a month in
(13:39):
paying into this 401k, but yet Icould go out and buy the next
new outfit, then those days Iwas clubbing, so I could go out
to the club and spend $100.
I can do all the other thingsto spend money that don't bring
(13:59):
me any type of return, but mymindset wasn't to invest money
so my money can make money forme.
And when I left that job Icould have easily, over 10 years
, I could have had about $40,$50,000, even more if I was
(14:20):
going to put more.
But if I would have stayed atthat $50 a paycheck or $100 a
paycheck I could have been at$40 to $50,000.
Well, when I left, that couldhave rolled over into something
else.
And I'm telling you this wasfrom 1995 through 2004.
(14:44):
1995 to 2004.
Yeah, that was like nine years,it was almost 10 years.
And imagine if I would havetaken that money and put it in
something else in 2004,.
We're here now.
(15:04):
What, 19 years later, what that$40,000 could have potentially
turned into 19 years later?
But I didn't know and nobodytold me.
So I'm telling you you have tolearn these things.
You cannot be afraid ofinvesting your money.
(15:28):
You cannot, and so whole lifepolicies Whole life policies
give you a death benefit and acash value to it.
And because you are the waythat the policy is set up and no
policy is the same.
It depends on your situationand you really need to talk to
(15:50):
an agent to go through thisprocess.
However, as your policyaccumulates cash value, you can
take that money, borrow thatmoney from yourself.
You're here term infinitebanking.
You're here a term become yourown bank.
(16:11):
This is a path to wealth, andso you can borrow from yourself.
So when you need that downpayment for the house that
you're trying to get, when youneed the down payment for the
car, when you need tuition, ahouse emergency, whatever it is,
you become your own bank, andyou borrow from yourself when
(16:36):
you pay yourself back Ininterest.
So not only have you made moneythrough this type of product,
but your money also made moneyfor you, because the interest
that you're paying yourself isyours.
I know you like what, mary, youlike?
Wait, wait a minute.
(16:57):
What are you saying to me rightnow?
Yeah, and I can't give it allaway right now to you we're
going to do another episode andunderstanding this process, but
I'm telling you it is amazing,and imagine setting your child
(17:19):
up in a type of policy that theycan have all the way, you know,
forever, and you turn it overto them and they're making a
payments on it because they'reyoung adults now, and that
policy now is a million dollarpolicy.
It has a million dollar deathbenefit.
It has, you know, six, sevenhundred thousand dollar cash
(17:42):
value and instead of renting anapartment paying $2,000 a month,
they can actually buy their ownhome, a hundred percent debt
free, $150,000, because theyknew first home, they don't need
a lot, right?
A hundred and fifty thousand,two hundred thousand, and
(18:02):
they're debt free and they ownit all home.
If I would have known then whatI know now, things would be so
different, and so that's why I'mdetermined to shout it from the
rooftops to you the one that'sworking at a job can't figure it
out, struggling, don't knowwhat to do.
(18:24):
Don't have anybody to really bestraight with them and say stop
spending your money onfrivolous things.
As far as investing your moneyuntil you can go back to spend
your money on frivolous thingsbecause you have so much of it,
it don't matter, right?
We all want to get to thatplace, but that's where it
(18:45):
starts.
And so to you woman, blackwoman, mother this is what you
need to do, this is what youneed to have, this is what you
need to start looking into andinvesting into.
That's a different way ofsaving.
So you see the difference fromputting a hundred dollars two
(19:08):
hundred dollars in a bankaccount Bank of America, wells
Fargo, whoever and trying tohope that it builds up and at
the end of the year you'veearned sixty cents, versus
paying two hundred dollars in avehicle, where, in your first
year, your cash value is threethousand dollars, in the second
(19:29):
year, your cash value is tenthousand dollars in the third
year, and now you can borrowmoney from yourself.
Probably never heard of it,right?
I know I was shocked when Iheard of it too, but it's
possible and it's there, andthere are so many other ways to
have the life that you want tolive.
So this is what I need you todo right now.
(19:53):
I need you to.
You're going to click the linkbelow and it's going to take you
to some resources where you canabsolutely talk to a
professional, look at youroptions and start your journey
of the different type of savings.
You're going to invest to save,not save in the old,
(20:18):
traditional way.
It's not going to work.
You're going to do what thewealthy do.
I have learned the tricks ofthe trade.
Click the link below and findout more.
So I love y'all.
I want to see you wealthy.
I want to see you on the otherside of money.
I'm telling you it is there foryou for the taking.
(20:38):
Let's go get it.
I love y'all.
Ain't nothing you can do aboutit.
Be blessed, live on purpose andwalk All right.
Divas, what an episode.
Did I hit you in the head withone of those bricks?
Did you go out?
Did you have the ducking cover?
I know you went running aroundthe house checking for cameras,
(21:01):
looking under the bed, lookingout the window to see if I was
watching, because I was all inyour business.
I was on your street and inyour lane.
It's okay, though.
It lets you know that you'renot alone.
I hope that something that youheard resonated with you and, as
(21:22):
a result, you are starting toreposition your mind so you can
have the life that you want tolive.
Now.
That's not all I have for youguys.
Not just what was in thepodcast, but now I want to give
you a gift.
Go to wwwstopdrowningandwincom.
Wwwstopdrowningandwincom.
(21:49):
To receive the seven stepsevery black woman must take this
year to break free and live herdreams once and for all.
You will also have anopportunity to connect with our
community Again.
You are not alone.
The work is just beginning.
Are you ready?
(22:09):
Let's walk.
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