Latest / The Steve Harvey Morning Show / Financial Motivator: Financial Literacy company promoting wealth building and entrepreneurship founded by a CPA and Financial Analyst.

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Financial Motivator: Financial Literacy company promoting wealth building and entrepreneurship founded by a CPA and Financial Analyst. · The Steve Harvey Morning Show

0:05
Speaker 1: Welcome to the show.
0:06
Speaker 2: I'm Rashwan McDonald, the host of Money Making Conversations Masterclass,
0:10
Speaker 2: where we encourage people to stop reading other people's success
0:13
Speaker 2: stories and.
0:14
Speaker 1: Start planning their own.
0:16
Speaker 2: Listen up as I interview entrepreneurs from around the country,
0:19
Speaker 2: talk to celebrities and ask them how they are running
0:22
Speaker 2: their companies, and speak with dog profits who are making
0:25
Speaker 2: a difference in their local communities. Now, sit back and
0:28
Speaker 2: listen as we unlock the secrets to their success on
0:31
Speaker 2: Money Making Conversations Masterclass.
0:35
Speaker 3: The interviews and information that this show provides are for everyone.
0:38
Speaker 1: It really is.
0:39
Speaker 3: It's time to stop reading other people's success stories and
0:42
Speaker 3: start living your own. If you want to be on
0:44
Speaker 3: a guest want to be a guest on my show?
0:45
Speaker 3: Now invite anyone who's changing people's lives, who has information,
0:49
Speaker 3: who's motivating the change and telling people they can be successful.
0:53
Speaker 3: Please go to Moneymaking Conversation dot com and click to
0:56
Speaker 3: be a guest button and you can make a difference.
0:59
Speaker 3: Because guess what, that's what I wanted my show. My
1:01
Speaker 3: guests created the melan melon, the money melon, the money.
1:05
Speaker 3: Their mission is to empower the black community through financial
1:08
Speaker 3: literacy and wealth building. They have been recognized for their
1:11
Speaker 3: innovative approach to bridging the wealth gap, which I talk
1:14
Speaker 3: about allowing the show. So we're going to really find
1:16
Speaker 3: out what is that wealth gap, you know, and fostering
1:19
Speaker 3: a culture financial empowerment. Please welcome to the Money to
1:22
Speaker 3: Money Making Conversation Masterclass. George and Carter, owners of Melon
1:26
Speaker 3: the Money and they want to share the inspiring stories.
1:29
Speaker 1: Welcome to the show, my friends, Thank you for having us.
1:31
Speaker 3: Well, you know, I always like having people in the
1:33
Speaker 3: studio because I can look, there's always a cat and
1:36
Speaker 3: mouse game on the radio. You can't really know how
1:38
Speaker 3: people are feeling about it. So let's get this started here.
1:42
Speaker 3: Tell me about you a little bit, my quick brother.
1:44
Speaker 4: Yeah, so I have been a financial advisor and wealth
1:47
Speaker 4: manager for the past twelve years. And when I started
1:51
Speaker 4: in the industry, there wasn't a lot of advisors that
1:53
Speaker 4: looked like me.
1:54
Speaker 1: And which why is that?
1:55
Speaker 5: Why is that?
1:56
Speaker 1: Why is that? I think because well, for several reasons.
2:00
Speaker 4: Right, I think if you don't see a representation in
2:03
Speaker 4: a space, then you assume that it's not for you. Right,
2:06
Speaker 4: So because of that, it's not a pure career path
2:08
Speaker 4: that people pursue they pursue being rappers, they pursue being athletes,
2:11
Speaker 4: they pursue being entertainers because they believe that's what's for them,
2:14
Speaker 4: because that's what they see. There wasn't a lot of representation,
2:17
Speaker 4: and so a lot of our movement is to create
2:19
Speaker 4: that representation so that people know that they're worthy of wealth,
2:21
Speaker 4: right And so what I realized there wasn't a lot
2:23
Speaker 4: of people in the space. I wanted to figure out
2:25
Speaker 4: how I could serve and reach more people. And that's
2:27
Speaker 4: when we started, you know, creating content online, creating podcasts
2:30
Speaker 4: and things of that nature, so that we could really
2:32
Speaker 4: impact and just show the world that, you know, building
2:35
Speaker 4: wealth as a personal color is something that's possible for
2:37
Speaker 4: you too.
2:38
Speaker 1: That's a person of color. You know.
2:41
Speaker 3: We talk about money, you know, the first level of
2:44
Speaker 3: money if you can buy a house, and then when
2:47
Speaker 3: you start talking about stocks, it it becomes like Spanish really,
2:51
Speaker 3: you know, And I wish I was being comical because
2:53
Speaker 3: even I'm a person, I still don't know what crypto is.
2:57
Speaker 5: So, you know, a on you really got a brother
3:02
Speaker 5: over here here.
3:03
Speaker 1: I got a show called money Cake.
3:05
Speaker 3: Money making comes they master, but I don't master that conversation. Right,
3:08
Speaker 3: So that's me and I supposed to know. So with
3:11
Speaker 3: that being said, you guys became partners. How did that
3:14
Speaker 3: world happen for you?
3:16
Speaker 6: Well, Carter Coofield, Okay, yeah, So I'm in CPA and
3:19
Speaker 6: I've been in CPA for about ten years and we
3:22
Speaker 6: met at the conference and he had clients he was
3:24
Speaker 6: helping make a lot of money and they needed to
3:26
Speaker 6: help saving on taxes. I had a bunch of clients
3:29
Speaker 6: I was helping saving on taxes and they need to
3:31
Speaker 6: know what to do with the extra money. Right, So
3:33
Speaker 6: we eventually came together. Because if you want to build wealth,
3:36
Speaker 6: I think it's two major things you have to do.
3:37
Speaker 6: Keep Uncle saying you saving tax Oh yeah, I was
3:40
Speaker 6: helping them save in taxes, and he was helping them
3:42
Speaker 6: take that money and invested.
3:43
Speaker 1: Oh I love that relationship.
3:44
Speaker 6: Yeah, keeping them money in circle wise man was told me,
3:47
Speaker 6: if you want to make a lot of money, teach
3:48
Speaker 6: people how to keep Uncle saying out they pocket, and
3:50
Speaker 6: teach them how to make money and they sleep.
3:52
Speaker 1: If you do those two things, you that mailbox money.
3:54
Speaker 1: Mailbox money.
3:55
Speaker 7: Loved it.
3:55
Speaker 1: You gotta love it.
3:56
Speaker 6: So it was a perfect partnership because those are the
3:59
Speaker 6: two things you need to do to build wealth. And
4:00
Speaker 6: we came together so we can have a one stop
4:02
Speaker 6: shot where people can save one taxes, make money from
4:05
Speaker 6: investments so they can build a legacy for their family.
4:09
Speaker 3: Now, when you say, I hear that a lot little
4:11
Speaker 3: legacy for the family, you know, because you know, in
4:14
Speaker 3: the black community, the community of color, you know, you
4:17
Speaker 3: they tell you about a little savings account, you know,
4:19
Speaker 3: and the savers account. Nowadays, the percentage is like you
4:22
Speaker 3: really just got money just sitting there.
4:24
Speaker 1: You cannot save yourself to wealth, brother, right, you.
4:26
Speaker 3: Can only Mber put it in a mattress, you know,
4:29
Speaker 3: you know, right right right, you know I can feed
4:31
Speaker 3: my money, baby, I can feel my money, you know,
4:34
Speaker 3: like my mom used to do.
4:35
Speaker 5: Now.
4:35
Speaker 3: But when you talk about that wealth gap, you know,
4:39
Speaker 3: how does that work for you, George.
4:41
Speaker 4: Thinking about the wealth gap as a whole, Yes, sir,
4:44
Speaker 4: So our mission is to decrease the wealth gap by
4:47
Speaker 4: one hundred billion dollars, right, and that's a big number.
4:50
Speaker 1: It's a big number right back. And we're going to
4:51
Speaker 1: back into so we start big in the we back
4:53
Speaker 1: you know, because.
4:53
Speaker 3: John Hods Brian talking about doing a million jobs by
4:56
Speaker 3: a year twenty thirty, I got two powerful black men
4:59
Speaker 3: out there talking about millions.
5:01
Speaker 4: Okay, yeah, yeah, So so our goal, our goal is
5:04
Speaker 4: the Christal wealth gap by one hundred billion dollars by
5:07
Speaker 4: helping one hundred thousand people of color achieve their first
5:10
Speaker 4: one million in networth.
5:11
Speaker 1: Right, But here's the thing, right to your point, absolutely
5:14
Speaker 1: absolutely right.
5:15
Speaker 4: Here's the thing that we realize, right, Like, we realized
5:17
Speaker 4: that marketing and society typically use marketing tactics to exploit
5:23
Speaker 4: this tactic, but we used it for a good right,
5:24
Speaker 4: and that tactic is people would do more for recognition
5:26
Speaker 4: than they will for money. The reason why people buy
5:28
Speaker 4: the Louis Vauton, they buy the fancy cars because of
5:31
Speaker 4: the perceived status that that gives them to the world.
5:35
Speaker 4: So we said, well, hey, we don't want people to
5:36
Speaker 4: spend money, but how can we how can we hack
5:38
Speaker 4: that psychology?
5:39
Speaker 1: Right?
5:39
Speaker 4: And so we every year we have an annual award
5:42
Speaker 4: show where we're literally celebrating our clients.
5:45
Speaker 3: Okay, okay, award show. I had nothing about an awards
5:48
Speaker 3: What award show?
5:49
Speaker 5: You got?
5:49
Speaker 3: It's happening you The good news is no, no, no, no, no, no, no,
5:54
Speaker 3: I ain't know nothing about this award show.
5:56
Speaker 5: Okay, I got my show.
5:59
Speaker 3: Yeah with the wards, you gotta award your awarding people.
6:03
Speaker 4: We got an award show celebrating people for their wealth, billding milestones.
6:06
Speaker 1: Right.
6:07
Speaker 4: So, like so if you have one hundred thousand, a networth,
6:10
Speaker 4: a half a million, a million, five million, whatever, Right,
6:12
Speaker 4: So now what happens is this?
6:13
Speaker 1: Right?
6:13
Speaker 4: He's the crazy part. When we launched this, my Financial
6:16
Speaker 4: Advisor first thought, I was crazy. No one's gonna feel
6:18
Speaker 4: comfortable talking about their numbers or their money. Yes, they
6:21
Speaker 4: will if you celebrate them for it. Because here's the reality. Well,
6:24
Speaker 4: most people leave high school. Everybody doesn't go to college.
6:26
Speaker 4: When's the last time they walk across the straight stage
6:28
Speaker 4: to get celebrated. When's the last time somebody is honoring
6:31
Speaker 4: them for something that they're doing. Now, imagine you get
6:34
Speaker 4: you get celebrated for fully funding your rought iray, you
6:36
Speaker 4: get celebrated for having one hundred thousand plus network. Now
6:39
Speaker 4: people are literally racing to like get those investment accounts
6:43
Speaker 4: funded so they can be up on stage. So now
6:45
Speaker 4: here's the good news. We're not giving you awards for
6:47
Speaker 4: how much money you made. We're not giving you awards
6:49
Speaker 4: for how much money you spent to flex on a
6:51
Speaker 4: society where you can only get an award from us
6:53
Speaker 4: if you actually have it, if you kept it right,
6:56
Speaker 4: and so we have hacked psychology when it comes to
6:58
Speaker 4: helping people build.
6:59
Speaker 3: Well, I'm not just over get back to you.
7:04
Speaker 5: That little program, little thing called the Hoodie Awards.
7:06
Speaker 1: Okay, Hoodie Awards.
7:07
Speaker 3: That was me and it's Steve Harbor and we celebrated
7:10
Speaker 3: small businesses, barbershops, churches, and school This feels like the
7:15
Speaker 3: hoodie of wards on steroids, something like something.
7:18
Speaker 4: Like, hey, listen, you hearing it from us. I'm not
7:20
Speaker 4: sure what you got going on uh this weekend, but
7:23
Speaker 4: we love to have you check it out. We'll make
7:24
Speaker 4: you get out the information for a complimentary ticket. We
7:26
Speaker 4: love to have you in the building. Okay, now, complimentary ticket.
7:28
Speaker 4: Now you know I'm a backstage guy.
7:30
Speaker 1: I can't that, brother. I just mean you don't have
7:36
Speaker 1: to pay anything. That's what I mean. You with us, brother.
7:40
Speaker 1: You know, I'm.
7:41
Speaker 3: Excited because of the fact that you're doing something that
7:44
Speaker 3: people say cannot be done these type of award shows,
7:48
Speaker 3: because of the fact that you're recognizing people of color,
7:52
Speaker 3: because that's not done normally.
7:53
Speaker 1: Because we're not supposed to be doing that. We're not.
7:55
Speaker 3: You know, like I said, you live with the with
7:58
Speaker 3: the entertainment, the athletics is those are the areas that
8:01
Speaker 3: you know. That's why Lebron James said, don't call my
8:05
Speaker 3: business partners a crew, you know, when people tell him
8:09
Speaker 3: stay just dribble a basketball. No, I do more than that.
8:12
Speaker 3: Don't stereotype me. And so I consider this event a
8:16
Speaker 3: non stereotypical event, which means it's worthy of promotion. It's
8:22
Speaker 3: worthy of television stations showing up, it's worthy of sitting
8:26
Speaker 3: on NBC Today, it's worthy sitting on Good Morning in America.
8:30
Speaker 3: Because we get stereotypes so much about what we cannot do.
8:34
Speaker 3: It's annoying to me. So I get mad. I create
8:39
Speaker 3: this show. I created this show, and I don't know
8:42
Speaker 3: why I did it. Initially, when I started in twenty seventeen, Carter,
8:45
Speaker 3: it was about celebrities. Okay, you know, I say, I
8:49
Speaker 3: bring the celebrities on and they talk about this success.
8:52
Speaker 3: Then I realized they're kind of boring, you know, yeah,
8:58
Speaker 3: because they are not talking about out to everyday person's success.
9:01
Speaker 1: And if people can't relate, yeah, you.
9:03
Speaker 3: Know, because In other words, they have using their brand
9:07
Speaker 3: to access something that the everyday person can't access. They
9:10
Speaker 3: might get a loan because they're famous. They might they
9:13
Speaker 3: might get a T shirt deal because they're famous. So
9:16
Speaker 3: they've skipped a lot of steps that the basic everyday
9:20
Speaker 3: person doesn't know anything about. So that's why it's important
9:23
Speaker 3: when I bring individuals like you on the show, talk
9:25
Speaker 3: about your role in all this.
9:27
Speaker 6: Yeah, so he had this idea before I came on,
9:29
Speaker 6: and I just wanted to help magnify the CPA. It's
9:32
Speaker 6: a CPA, right, because we know client's making all this money.
9:34
Speaker 6: It was like, how can we make this money tax free?
9:36
Speaker 6: How can we find creative strategies to help our clients
9:38
Speaker 6: build wealth without having to give fifty percent of their
9:41
Speaker 6: money to Uncle Sam?
9:42
Speaker 1: Right?
9:42
Speaker 6: Because most people, but they don't realize that when you
9:45
Speaker 6: pay federal tax, state tax, city tax, self deployment tax,
9:49
Speaker 6: property tax, you're giving fifty percent of money to the
9:51
Speaker 6: government over your lifetime. Right, And so if I can
9:54
Speaker 6: help them keep that money, because some people actually say, like,
9:57
Speaker 6: if I make more money, they have to pay more
9:59
Speaker 6: taxes potentially, but don't stop making the money first, you
10:02
Speaker 6: know what I'm saying, so I think that our goal
10:04
Speaker 6: was just really to come together and teach people that
10:07
Speaker 6: you can make more money and save on taxes at
10:09
Speaker 6: the same time.
10:10
Speaker 3: One of the questions that was put submitted to me
10:13
Speaker 3: was like milestones and journeys because we all you know,
10:16
Speaker 3: I always tell people I basically am the same guy
10:19
Speaker 3: at eighteen. I just had to learn that when I
10:21
Speaker 3: became forty. Yeah, you know, you know, because I because
10:24
Speaker 3: now I'm making all the tools and all the vision
10:27
Speaker 3: I had when I was eighteen, then I'm actually making
10:30
Speaker 3: money with it. I was an inspirational guy. I was
10:33
Speaker 3: telling people people listen to me when I talk. I
10:36
Speaker 3: would do events, they would show up, they will give
10:38
Speaker 3: me money. So let me know, at a very early age,
10:40
Speaker 3: I had some skill set that people went, Okay, here's
10:43
Speaker 3: five dollars. So now I'm looking at two young men,
10:47
Speaker 3: which excite me because you're my future, you know. And
10:51
Speaker 3: I always tell people, you hit fifty, you know, there's
10:54
Speaker 3: a fifty, there's no guarantee the next fifty. First fifty,
10:58
Speaker 3: there was no guarantee there, but I made it a fit.
11:00
Speaker 5: There you go.
11:01
Speaker 1: Yeah, so that's the.
11:02
Speaker 3: Journey that I can tell you about. So what's your
11:05
Speaker 3: journey because you have not hit fifty yet.
11:07
Speaker 1: Yeah.
11:07
Speaker 6: Yeah, so my journey is pretty missed. CPA talking, I'm
11:11
Speaker 6: called CPA.
11:12
Speaker 5: That's money man over there.
11:13
Speaker 1: Yeah yeah, CPA. Yeah, yeah, for sure.
11:17
Speaker 6: Unfortunately, so fortunately, unfortunately, I had a traumatic childhood. My
11:21
Speaker 6: mom and dad at fourteen, my dad dad at sixteen,
11:23
Speaker 6: so I was sixteen with no parents. But it also
11:25
Speaker 6: told me to take my own life and my own
11:27
Speaker 6: financial literacy into my own hands. Right, So, very early on,
11:30
Speaker 6: I realized that we didn't have money, and I went,
11:32
Speaker 6: so why because the people around me that have money,
11:35
Speaker 6: but that we don't have it. So my curiosity for
11:38
Speaker 6: money stemmed from a lack and instead of saying I
11:41
Speaker 6: scarcely the mindset we're you know, we don't have it,
11:43
Speaker 6: I had an abundance mindset, So how can we achieve it?
11:45
Speaker 6: So that's where my curiosity for money came from. And
11:48
Speaker 6: I studied it all through college and I became one
11:51
Speaker 6: of the top CPAs in the country. And my goal
11:53
Speaker 6: is simple, like, if I made it this far, I
11:55
Speaker 6: was able to make money in my business and save
11:57
Speaker 6: a lot of money on taxes. I have an obligation
12:00
Speaker 6: to teach my own people how they can do it
12:03
Speaker 6: as well. Well, you know, when you see your own
12:05
Speaker 6: people who you're talking about, I'll talk with people of color,
12:08
Speaker 6: specifically black people, because we're underserved. Right again, if somebody's
12:12
Speaker 6: not black, listens to me, fine, I'm targeting my community
12:15
Speaker 6: to whose has been underserved with information intentionally for a
12:18
Speaker 6: very long time. So I feel like a personal obligation
12:21
Speaker 6: to give us the skills and the assets and the
12:24
Speaker 6: information and resources for us to just not take our
12:27
Speaker 6: family to the next level, but us take our friends
12:29
Speaker 6: and people around us as well.
12:31
Speaker 3: Before we go to break I'll be remiss not to
12:33
Speaker 3: complete the conversation about the award show. Tell us about
12:36
Speaker 3: the war show when it's happening, but also how can
12:39
Speaker 3: one participate it in next year?
12:41
Speaker 4: Absolutely, So, the award Show is a part of a
12:43
Speaker 4: broader experience called Wealth Weekend. And on Friday this Friday,
12:47
Speaker 4: upcoming Friday, we have a educational conference, right because we
12:50
Speaker 4: don't we want to make sure people get the actual
12:51
Speaker 4: information to learn how to hit those milestones. Because this
12:54
Speaker 4: is an event for our clients as well as it's
12:55
Speaker 4: open to the public. So to your point, if you're
12:57
Speaker 4: not our client, you might not yet know the strategies
12:59
Speaker 4: and insights on how to improve your network. So if
13:02
Speaker 4: we first start with the education, right, we have some
13:04
Speaker 4: powerhouse speakers, myself and Carter will be some of them,
13:07
Speaker 4: but also some other speakers on Friday, and then after
13:09
Speaker 4: people get a chance to get out that information, right,
13:12
Speaker 4: we want to give them a chance to digest it,
13:14
Speaker 4: get a chance to connect with other people who were
13:16
Speaker 4: in the room. Because the reason why this started and
13:18
Speaker 4: evolved to the next level is we invested in ourselves
13:20
Speaker 4: and we went to a conference, right, and we met
13:22
Speaker 4: at that conference, and then that compounded into a friendship,
13:25
Speaker 4: a business partnership, and our brotherhood. Right, So we want
13:28
Speaker 4: to get people an opportunities to connect in a meaningful ways.
13:30
Speaker 1: We have a mixer after the conference.
13:33
Speaker 4: Then that Saturday is when we have the award show,
13:36
Speaker 4: So early evening we have the award show, and it's
13:39
Speaker 4: a two part award show, So we're celebrating our clients
13:42
Speaker 4: who have achieved the milestones, but then also other pillars
13:45
Speaker 4: of the community. Had we known about you probably would
13:47
Speaker 4: have been celebrated as well. But pillars of the community
13:49
Speaker 4: who are helping us in this mission. Because we know
13:52
Speaker 4: that we're not the only two guys in the financial
13:55
Speaker 4: literacy space pushing this narrative forward.
13:57
Speaker 1: So we want to let them know that we see
13:58
Speaker 1: them too.
13:59
Speaker 4: Right, So, who are educated about stocks, people who educate
14:01
Speaker 4: about real estate and all the other different categories.
14:04
Speaker 1: They also get celebrated.
14:05
Speaker 4: And amplified as a part of this experience because it's
14:07
Speaker 4: not for us hitting that one hundred thousand Peape Parson target.
14:11
Speaker 4: And we don't care if it all comes through Melon
14:13
Speaker 4: and Money. We just want to be the conduit to
14:15
Speaker 4: make it happen. Right, And then at the end of that,
14:18
Speaker 4: we have another celebration, a sneaker ball, right, so everybody
14:22
Speaker 4: comes suited and booted, they're all dressed up. They can
14:24
Speaker 4: take off the shoes that were hurting their feet, they
14:25
Speaker 4: can pop on the sneakers and have a good time
14:27
Speaker 4: for the rest of the evening. And if if you're
14:30
Speaker 4: in Atlanta area or you're in the surrounding area, we
14:32
Speaker 4: have tickets available on melonimoney dot com.
14:34
Speaker 1: All you have to do is go to the website.
14:36
Speaker 4: I think we have some tickets left, tw tickets left
14:39
Speaker 4: to attend tickets, a few tickets left to attend the event.
14:42
Speaker 1: And if you do miss it, for whatever reason.
14:43
Speaker 4: If you can't make it or we're sold out by
14:44
Speaker 4: the time you get to the site, visit melonomoney dot com.
14:47
Speaker 4: Stay tuned in what we have going on. Visit our
14:49
Speaker 4: YouTube channel. We post a couple of episodes every single week.
14:52
Speaker 4: Haven't missed the week since twenty twenty one. Because we
14:55
Speaker 4: always want to educate regardless. If people can tap in
14:58
Speaker 4: with our community and deepened meaning ways, we want to
15:00
Speaker 4: make sure that we provide a platform that people can
15:02
Speaker 4: learn from.
15:02
Speaker 3: I'm going to tell you something. Both these brothers in shape,
15:05
Speaker 3: you know, one of them got look like he walked
15:06
Speaker 3: in with a weight kit helping wave health and wealth.
15:12
Speaker 3: You well, there's arms, there's gun. That's gun, so he
15:14
Speaker 3: can't let me touch this.
15:15
Speaker 1: But oh boy, stop.
15:17
Speaker 3: When we come back, we will learn more about them.
15:19
Speaker 3: How did this organization start the name that? What does
15:21
Speaker 3: that name mean? It's important that we understand their birth,
15:25
Speaker 3: understand their journey and all those during their future. That's
15:28
Speaker 3: all gonna happen when you come back to Money Making
15:30
Speaker 3: Conversation master Class. Whoa boor Glad you're own the studio
15:34
Speaker 3: because you learned something today.
15:37
Speaker 7: Please don't go anywhere. We'll be right back with more
15:40
Speaker 7: money Making Conversations Masterclass. Welcome back to the Money Making
15:50
Speaker 7: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
15:56
Speaker 7: continues online at Moneymakingconversations dot com and follow money Making
16:00
Speaker 7: Conversations Masterclass on Facebook, Twitter, and Instagram.
16:05
Speaker 3: Oh thank you all for just listening. Thank y'all for
16:08
Speaker 3: encouraging me to continue with this show.
16:10
Speaker 5: Not like I won't stop. You know what I'm saying.
16:12
Speaker 5: I won't keep doing it anyway. I won't do it
16:14
Speaker 5: in my house, in my batesment.
16:15
Speaker 3: You know, I have two laps, two video gaests right now,
16:18
Speaker 3: George and Carter, and they are gonna be talking about
16:22
Speaker 3: their business. But you know, when I was reading your resume,
16:26
Speaker 3: it was talking about innovative. When I hear that word innovative,
16:29
Speaker 3: I don't know what that means, you know, invative ways
16:32
Speaker 3: that you can build your wealth. Because let's be honest.
16:37
Speaker 3: I got a credit card, I know about CDs, I
16:41
Speaker 3: know about stock, I know about insurance.
16:44
Speaker 1: What's innovative? When am I missing? George? Yeah, that's a
16:48
Speaker 1: great question, right.
16:49
Speaker 4: So you know I have this tagline that I like
16:52
Speaker 4: to help people achieve financial freedom. Three times faster than
16:55
Speaker 4: traditional financial advice, right, And it sounds like a good tagline.
16:58
Speaker 4: But to your point, if I don't unpack that, you
16:59
Speaker 4: might not know what that means. So the first thing
17:02
Speaker 4: that comes with that is number one, understanding you know,
17:05
Speaker 4: how anybody can invest in the stock market?
17:07
Speaker 1: Right, Like, how what does that look like?
17:09
Speaker 4: And so for me, I've always helped people understand what
17:12
Speaker 4: I like to call the Burger King investment strategy and
17:14
Speaker 4: what I mean by that. What I mean is McDonald
17:16
Speaker 4: spends millions of dollars a year figuring out where they
17:18
Speaker 4: want to put their next location. Right there in the
17:20
Speaker 4: real estate business as well, so they put a lot
17:21
Speaker 4: of thought into where the next location is going to go. Right,
17:23
Speaker 4: So the question becomes, well, how does Burger King decide
17:26
Speaker 4: where they want to put.
17:26
Speaker 1: Their next location?
17:28
Speaker 4: Well, they probably put it across the street or in
17:30
Speaker 4: proximity to McDonald's, right, because if someone wants McDonald's, they
17:32
Speaker 4: probably are also okay with Burger King.
17:34
Speaker 1: So what does that mean with investing? What that means
17:37
Speaker 1: is there's companies.
17:38
Speaker 4: Like Vanguard, black Rock, right, these really big companies that
17:41
Speaker 4: spend multimillion dollars on deciding the right companies and investments
17:47
Speaker 4: that need to go in these things called index funds
17:49
Speaker 4: and ETFs, right, And I'll explain what that means in
17:51
Speaker 4: a second. And so instead of me, even though I'm
17:54
Speaker 4: well researched and I understand how the stock market works,
17:56
Speaker 4: an average investor might not. So what they can do
17:58
Speaker 4: is they can piggyback right the research that these big
18:02
Speaker 4: companies have already done and simply select the fund like
18:06
Speaker 4: a VOO which is an index fund, or QQQ, and
18:10
Speaker 4: all the research has already been done on if this
18:13
Speaker 4: fund makes sense. Right. And so when people know that,
18:16
Speaker 4: now they don't have to be experts in the stock market.
18:18
Speaker 4: They don't necessarily have to know everything about the inner
18:20
Speaker 4: workings of the stock market. They know that Vanguard has
18:22
Speaker 4: spent millions of dollars on research, they manage tradings dollars
18:26
Speaker 4: in assets, and they're gonna do their due diligence on
18:29
Speaker 4: picking the right companies.
18:30
Speaker 1: Right.
18:31
Speaker 4: So now anybody can become an investor. Now take it
18:33
Speaker 4: a step further, because you have the ability to look
18:36
Speaker 4: inside of those funds. You can see, well, what are
18:38
Speaker 4: the top five to ten companies in these funds? These
18:41
Speaker 4: funds have five hundred different investments in them, but what
18:44
Speaker 4: are the top five to ten. Well, I had this
18:46
Speaker 4: aha moment to say, well, what happens if I piggyback
18:49
Speaker 4: the research and invest in the index fund, but I
18:52
Speaker 4: also select some of those top companies outside of that.
18:55
Speaker 4: So now I get the performance of the top companies
18:57
Speaker 4: while still having the security of the fund. Doing that
19:00
Speaker 4: strategy has allowed me to outperform the market for the
19:03
Speaker 4: past seven years, right, So that's kind of the foundational
19:07
Speaker 4: level of what makes the strategy innovative. Now beyond that,
19:12
Speaker 4: to Carter's point, a lot of people pay money in taxes,
19:14
Speaker 4: So I said, well, shoot, everybody talks about buying low
19:17
Speaker 4: and selling high. What they don't tell you is when
19:19
Speaker 4: you sell high, even though capital gains tax are lower
19:22
Speaker 4: than other ordinary income taxes you might pay, it's still taxes.
19:25
Speaker 1: Yes, it is right.
19:26
Speaker 4: So what happens when you can have investments benefit from
19:29
Speaker 4: the growth and not have to sell right by leveraging
19:33
Speaker 4: that investment account and basically becoming your own bank borring
19:37
Speaker 4: against the value of the account. So, for example, if
19:39
Speaker 4: you had one hundred thousand dollars invested. A lot of
19:41
Speaker 4: people don't realize you can go to Charles Swab. You
19:43
Speaker 4: can go to Fidelity and say, hey, look you see
19:45
Speaker 4: I have the money invested. Could you give me a
19:47
Speaker 4: lot of credit based upon the value of my account? Sure,
19:49
Speaker 4: why wouldn't we? See you have the money invested. So
19:52
Speaker 4: now your money gets to remain invested. You now get
19:54
Speaker 4: to avoid the taxes, and then we're we're going to
19:56
Speaker 4: teach you to get that money not to go buy stuff.
19:58
Speaker 1: The interest you interest your fan back interest to so
20:02
Speaker 1: to you who yourself?
20:04
Speaker 3: Okay, right, I had your taxman came in exacting right
20:11
Speaker 3: now the hoop, right, So then you take that money.
20:13
Speaker 1: But here's the here's the kicker.
20:14
Speaker 4: Even if you weren't paying the interest back to yourself,
20:16
Speaker 4: you're only going to borrow the money once you've identified
20:18
Speaker 4: an investment opportunity that's going to exceed the interest that
20:22
Speaker 4: you would owe.
20:23
Speaker 1: That's the infinite money glitch.
20:24
Speaker 4: Right. If I can borrow money at six percent, right,
20:27
Speaker 4: go and buy an investment property that's going to produce
20:30
Speaker 4: higher than the cost of that capital, and then take
20:33
Speaker 4: that cash flow and put it back in my investment
20:35
Speaker 4: accouncil can compound even further. That's that's what we like
20:38
Speaker 4: to call it infinite money glitch. Right, most people are
20:40
Speaker 4: just so used to hearing the term borrowing and associating
20:43
Speaker 4: it with debt, buying clothes, buying cars, buying liabilities. Right,
20:48
Speaker 4: when you take that same equation but use it to
20:51
Speaker 4: buy investments, it's a totally different ball game.
20:53
Speaker 1: People just have to get on the right side of
20:54
Speaker 1: the equation.
20:55
Speaker 3: Wow, this relationship being a money man and being a CPA.
21:00
Speaker 1: So that's that's what I see here.
21:02
Speaker 3: You know, good combo is good combo because in the end,
21:05
Speaker 3: you know, taxes kill us. All taxes can you know,
21:11
Speaker 3: can put you in jail if you don't follow Them'll
21:14
Speaker 3: discover that famous actor. Plenty of them out there told
21:18
Speaker 3: us that. So when you do, you have an innovative plan.
21:22
Speaker 3: He's told us an innovative plan when it comes to
21:25
Speaker 3: making money. Seven year plans, worked, strategized, your CPA highly rated,
21:33
Speaker 3: topping the class.
21:33
Speaker 1: That's what makes you special.
21:35
Speaker 6: Well, I teach entrepreneurs how to basically have the irs
21:39
Speaker 6: help pay their bills. Right, So if you start a business,
21:42
Speaker 6: right podcast whatever, you buy that lab. If you don't
21:46
Speaker 6: have a business, you buy that laptop. That's a personal expense. Absolutely,
21:49
Speaker 6: if you start a business and you buy that laptop,
21:51
Speaker 6: that's a business expense, absolutely, So the IRS will now
21:54
Speaker 6: give you a tax deduction for you buying something you're
21:56
Speaker 6: already going to buy anyway, right, So now you can,
21:58
Speaker 6: now that you know that, you look around your house
22:00
Speaker 6: and say, what other personal expense can I turn into
22:03
Speaker 6: a legitimate tax deduction? If you have a business that
22:06
Speaker 6: you operate from home, the IRS is lets you take
22:08
Speaker 6: advantage of the home office deduction, which will allow you
22:11
Speaker 6: to write off a portion of your rent or your
22:13
Speaker 6: mortgage every single month. Again, any utilities and utilities and internet,
22:17
Speaker 6: and these are things you're already paying for, So why
22:20
Speaker 6: not get the IRS to step in and help give
22:22
Speaker 6: you a tax deduction so you can lower the amount
22:24
Speaker 6: that you're trying to pay. So step number one is
22:26
Speaker 6: how can we turn our personal expenses into tax deductible
22:28
Speaker 6: business expenses? Step number two is how can we leverage
22:32
Speaker 6: assets to help us save on taxes? So now that
22:35
Speaker 6: we're saving on taxes, we might get a refund check
22:37
Speaker 6: because we turn we now increased our write offs, So
22:40
Speaker 6: you might get some money back from the IRS if
22:41
Speaker 6: you use some of that refund to, let's say, buy
22:43
Speaker 6: a real estate property. Real estate allows you to earn
22:46
Speaker 6: money in your bank account while losing money on your
22:48
Speaker 6: tax return, So you can actually cast for from that
22:51
Speaker 6: real estate and not pay any taxes. Not to mention,
22:54
Speaker 6: the losses on your tax return from your real estate
22:57
Speaker 6: property gets to get subtracted from other income you make
23:00
Speaker 6: at work or your other businesses. So you're making tax
23:02
Speaker 6: free money in real estate and you're lessening your tax
23:05
Speaker 6: bill and your W two job. And then the last
23:08
Speaker 6: step is like, all right, how are there other ways
23:10
Speaker 6: that we can invest in not pay the irs we use?
23:13
Speaker 6: So we take advantage of tax advantage accounts like iras
23:16
Speaker 6: roth iras, or we can lever strategies like George mentioned
23:19
Speaker 6: by investing in our investment account and then borrowing from
23:22
Speaker 6: my assets to buy other assets. The wealthiest people in
23:25
Speaker 6: the country, they buy assets, they use that to buy assets,
23:31
Speaker 6: and they use the money from the assets to pay
23:33
Speaker 6: off the debts, and then they borrow from the debts tax.
23:37
Speaker 1: Free to go buy other assets.
23:39
Speaker 6: This is a wealth game, and if you're gonna play
23:42
Speaker 6: the game, you need to learn the real I love it,
23:43
Speaker 6: you know, I smile because you know a lot of
23:47
Speaker 6: the stuff I know naturally It's always good to hear
23:50
Speaker 6: it come back at you and realize, hey, the model works.
23:53
Speaker 3: Stick to a rashan, you know, because there is a
23:55
Speaker 3: long term model because a lot of times we want
23:57
Speaker 3: to win the lotto, Witchdoc. This is a plan in
24:00
Speaker 3: the stock game, which is a plan and a goal
24:02
Speaker 3: or in in its system. As we wrap up the call,
24:06
Speaker 3: and I will be at your war show.
24:08
Speaker 6: Okay, okay, y'all know, okay, and I will yeah, pe
24:11
Speaker 6: access He got a step us one right.
24:12
Speaker 3: Now, this ain't even nothing worried worry sneakers, right, I gotta.
24:19
Speaker 4: Have a join So you how much your regular shoes
24:22
Speaker 4: and then and then when the when the when the
24:24
Speaker 4: war show is over, then you can transition to your sneaker,
24:26
Speaker 4: same outfit.
24:27
Speaker 1: This is all good, It's all good, I got it,
24:29
Speaker 1: he said.
24:29
Speaker 3: Let's I know the war shows happening, but tell us
24:31
Speaker 3: again about the website and so people can reach out
24:34
Speaker 3: to you in the future one hundred percent.
24:35
Speaker 4: So the website is meling in money dot com. That's
24:37
Speaker 4: spelled et m E l A N I N money.
24:40
Speaker 4: I hope you're not spelled money. Meling in money dot com.
24:44
Speaker 4: That's where you can find all of our resources, and
24:45
Speaker 4: I also would encourage you to use that same name
24:47
Speaker 4: that searches on YouTube. Find our YouTube channel, subscribe, dropping
24:50
Speaker 4: an amazing content every single week, and we can't wait
24:53
Speaker 4: for you to be a part of the community.
24:54
Speaker 3: Guys, you're fantastic. Thank y'all for coming in our studio
24:56
Speaker 3: and we will talk soon. I appreciate y'all.
24:58
Speaker 1: Thank you.
24:59
Speaker 3: This has been another d money Making Conversation Masterclass hosted
25:02
Speaker 3: by me Rashan McDonald. Thank you to my guests who
25:05
Speaker 3: are talking today, and thank you to my listening audience.
25:08
Speaker 7: Now.
25:08
Speaker 3: If you want to listen to any episodes I want
25:10
Speaker 3: to be guests on my show, visit Moneymaking Conversation dot com.
25:13
Speaker 3: Our social media handler is money Making Conversations. Join us
25:16
Speaker 3: next week and remember to always leave with your gifts.
25:19
Speaker 1: Keep winning.
25:20
Speaker 2: This has been another edition of Money Making Conversation Masterclass
25:23
Speaker 2: hosted by me Rashaan McDonald. Thank you to our guests
25:26
Speaker 2: on the show today and thank you our listening to
25:29
Speaker 2: the audience now. If you want to listen to any
25:31
Speaker 2: episode I want to be a guest on the show,
25:33
Speaker 2: visit Moneymakingconversations dot com. Our social media handle is money
25:38
Speaker 2: Making Conversation join us next week and remember to always
25:41
Speaker 2: leave with your gifts.
25:42
Speaker 1: Keep winning,