Latest / The Steve Harvey Morning Show / Info You Can Use: Helping the black community become financially independent and build generational wealth.

Transcript

Info You Can Use: Helping the black community become financially independent and build generational wealth. · The Steve Harvey Morning Show

• 0:00
  Speaker 1: Thank you for coming on my listening to my show.
• 0:01
  Speaker 1: First of all, I am row Shawn McDonald. I host
• 0:04
  Speaker 1: the weekly Money Making Conversation Masterclass show. The interviews and
• 0:07
  Speaker 1: information that this show provides are for everyone. It's time
• 0:11
  Speaker 1: to start reading other people's success stories and start living
• 0:14
  Speaker 1: your own. If you want to be a guest on
• 0:16
  Speaker 1: my show, please visit our website, Moneymakingconversations dot com and
• 0:21
  Speaker 1: click the b a Guest button. Now let's get this
• 0:23
  Speaker 1: show started. My guest is the co founder of Melanin Money.
• 0:28
  Speaker 1: Melanon Money, He's gonna correct it if I'm saying is wrong,
• 0:31
  Speaker 1: and also a CPA who empowers individuals to achieve financial freedom.
• 0:36
  Speaker 1: He's recognized as one of the top financial planners for
• 0:39
  Speaker 1: millennials by showing them how to live tax free. His
• 0:43
  Speaker 1: mission is to help the black community become financially independent
• 0:47
  Speaker 1: and build generational wealth. Please welcome to Money Making Conversation Masterclass.
• 0:52
  Speaker 1: Carter Cofield. How you doing, Carter?
• 0:56
  Speaker 2: Amazing brother. Thank you so much for having me. I'm
• 0:58
  Speaker 2: excited to be here.
• 1:00
  Speaker 1: Please announciate the name of your company that you co founded.
• 1:04
  Speaker 2: Yeah, melon In Money, you said it correctly, Okay, cool?
• 1:07
  Speaker 1: Now why did you co found that company.
• 1:11
  Speaker 2: Yeah, so a few reasons. So number one is we
• 1:15
  Speaker 2: wanted to super serve our community and people that look
• 1:18
  Speaker 2: like us. Right when I was working in Corporate America,
• 1:20
  Speaker 2: I was doing taxes for like, well see people in
• 1:23
  Speaker 2: Fortune five hundred companies, which was cool, but it wasn't fulfilling,
• 1:26
  Speaker 2: especially as a kid that grew up on the South
• 1:28
  Speaker 2: Side of Chicago. So I had a friend of mine
• 1:32
  Speaker 2: who's not my business partner, and he was an amazing
• 1:34
  Speaker 2: financial advisor and I'm an amazing CPA. And we kept
• 1:38
  Speaker 2: sending clients back and forth to each other. Like, my
• 1:40
  Speaker 2: clients save on taxes, they would want to learn how
• 1:42
  Speaker 2: to invest it. His clients was investing. They want to
• 1:44
  Speaker 2: learn how to save on taxes. So instead up sending
• 1:46
  Speaker 2: clients back and forth to each other, we just decided
• 1:48
  Speaker 2: to come together and come up with a financial services
• 1:51
  Speaker 2: firm that helps business owner to save on taxes and
• 1:54
  Speaker 2: invest their money.
• 1:55
  Speaker 1: Now, now you like, I'm just telling everybody it. He's
• 1:58
  Speaker 1: like a superstar, y'all. He's like this got He's not
• 2:01
  Speaker 1: a regular CPA. And I say that in a very complimented,
• 2:04
  Speaker 1: complimentary manner because I've seen him he's very uh, he's uh,
• 2:08
  Speaker 1: he's very People gravitate to him. He's very articulate. He's like,
• 2:12
  Speaker 1: it's a clear understanding of his business model. Why why
• 2:17
  Speaker 1: why is that happening for you? You know, because your
• 2:20
  Speaker 1: CPA boring, you know, adding up numbers? How did you
• 2:25
  Speaker 1: build your brand to become what I see it as
• 2:28
  Speaker 1: today and promote the success stories of finance of people
• 2:33
  Speaker 1: who want to make money, because that's what you do.
• 2:36
  Speaker 2: Yeah. So I had to look myself in the mirror
• 2:43
  Speaker 2: and have the courage to be authentically myself. Okay, And
• 2:49
  Speaker 2: it didn't start out that way because I worked in
• 2:51
  Speaker 2: corporate America and I was told to cut off my
• 2:53
  Speaker 2: face you of here, I was told to have my tattoos.
• 2:55
  Speaker 2: I was told to not drive my nice car to
• 2:58
  Speaker 2: work because it made the other cowork feel uncomfortable because
• 3:01
  Speaker 2: my car was better than theirs and I was younger
• 3:03
  Speaker 2: than them. So I dealt with a lot of imposter
• 3:06
  Speaker 2: syndrome in my early years in my career because I
• 3:09
  Speaker 2: wasn't allowed to be myself. And I just woke up
• 3:15
  Speaker 2: one day and said I would rather be hated for
• 3:17
  Speaker 2: being me than be loved for being someone I'm not,
• 3:21
  Speaker 2: and I decided to leave my firm and start my
• 3:23
  Speaker 2: own business and really just be myself. And I am
• 3:26
  Speaker 2: a really fun, energetic, extroverted extrovert who loves teaching people
• 3:33
  Speaker 2: about finances and taxes and in a really really boring industry,
• 3:38
  Speaker 2: I decided to show my personality. And it was scary
• 3:42
  Speaker 2: at first because you know, people don't really think those
• 3:46
  Speaker 2: cvah should be funny and cool, and people think the
• 3:49
  Speaker 2: CVA should be stuffy and wear glasses and look a
• 3:51
  Speaker 2: certain way. So it was nerve wrecking at first. But
• 3:54
  Speaker 2: like I said, I would just rather be myself than
• 3:56
  Speaker 2: have the people who are for me before me, and
• 3:58
  Speaker 2: they have the people who are not not be You know, I.
• 4:01
  Speaker 1: Smile when I hear you talk because I know who
• 4:04
  Speaker 1: you are as an individual. I've seen you, and you're
• 4:06
  Speaker 1: absolutely correct. I've worked in the corporate space and you
• 4:10
  Speaker 1: are limited on what you can do. They asked you
• 4:12
  Speaker 1: to be successful, but you don't want to show your success,
• 4:15
  Speaker 1: and will you show your success? It gets what the
• 4:18
  Speaker 1: opportunities for you to be more successful can be stopped,
• 4:22
  Speaker 1: can be halted. You know, a lot of corporate spaces
• 4:26
  Speaker 1: don't want you driving a better car than your supervisor.
• 4:28
  Speaker 1: Supervisor sees that they can stop giving you opportunities or
• 4:32
  Speaker 1: stop promoting you. That's a difficult space to live in.
• 4:36
  Speaker 1: But youre courageous enough to look in the mirror without fear,
• 4:40
  Speaker 1: because fear stops a lot of people. Carter, how did
• 4:43
  Speaker 1: you make understand that I'm not gonna walk through that fear?
• 4:47
  Speaker 1: I want my listeners to hear that.
• 4:51
  Speaker 2: Yeah, well, I believe that you know, you have really
• 4:55
  Speaker 2: two choices in life. You can make a living or
• 4:59
  Speaker 2: you can desig life, right, And if you're going to
• 5:02
  Speaker 2: take the second route and design a life, you have
• 5:04
  Speaker 2: to understand that you're going to have to do things
• 5:06
  Speaker 2: that makes you uncomfortable. And one of my favorite definitions
• 5:10
  Speaker 2: for fear is finally exiting average reality. Right, So that
• 5:17
  Speaker 2: always replays in the back of my mind. Anytime I'm
• 5:19
  Speaker 2: about to do something that's scary, I'm like, oh, I'm
• 5:21
  Speaker 2: scared because I'm finally exiting this average season in my
• 5:25
  Speaker 2: life and I'm about to go leave extraordinary and inter extraordinary.
• 5:29
  Speaker 2: I'm about to lead familiar and into phenomenal. So anytime
• 5:32
  Speaker 2: something gets scary for me, which still happens today, I
• 5:36
  Speaker 2: just understand that that's the part of growth. And the
• 5:39
  Speaker 2: scariest thing for is not. The scariest thing is getting
• 5:43
  Speaker 2: to the end of your life and waking up and
• 5:45
  Speaker 2: realizing that you never truly live. That's the scariest thing,
• 5:49
  Speaker 2: you know.
• 5:50
  Speaker 1: It's really interesting when I was reading your story and
• 5:54
  Speaker 1: the backstory, We're going to turn to some dark moments
• 5:57
  Speaker 1: in your life emotionally when you will youth and you
• 6:00
  Speaker 1: lost your parents, but that laid a foundation for you.
• 6:04
  Speaker 1: How you looked at money, how you looked at your future.
• 6:10
  Speaker 1: Talk about those moments if you don't mind sharing it
• 6:12
  Speaker 1: on my show, Because I think that everybody deals with
• 6:16
  Speaker 1: sadness or death differently. I know I deal with it differently.
• 6:20
  Speaker 3: You know.
• 6:20
  Speaker 1: I tell everybody, if everybody, if I'm alive, I'm gonna
• 6:23
  Speaker 1: do the eulogy for everybody in my family. I'm gonna
• 6:27
  Speaker 1: do it despite that tough assignment. I do it. And
• 6:30
  Speaker 1: I've been unfortunate able to do it for both my
• 6:33
  Speaker 1: parents and two of my sisters. So I've had depth
• 6:38
  Speaker 1: in your life at a young age, much younger than mine.
• 6:41
  Speaker 1: Talks to that experience and how it impacted you and
• 6:43
  Speaker 1: your family.
• 6:46
  Speaker 2: Yeah, well, how I look at it now different? How
• 6:48
  Speaker 2: look at it back then, right, And one thing I,
• 6:52
  Speaker 2: of course I live by is there is a gift
• 6:56
  Speaker 2: in all adversity if for a willing to open the package.
• 7:01
  Speaker 2: So when my parent I all off my parents are
• 7:04
  Speaker 2: six fourteen and sixteen, it was absolutely devastating, absolutely devastating. However,
• 7:10
  Speaker 2: because I didn't know how to deal with my emotions,
• 7:12
  Speaker 2: I buried my self in my students because the only
• 7:17
  Speaker 2: way that I cannot think about not having my parents
• 7:20
  Speaker 2: is to put my head in books. So I became
• 7:24
  Speaker 2: really smart from age sixteen on when I wasn't good
• 7:27
  Speaker 2: at school before then, but from age sixteen onwards I
• 7:31
  Speaker 2: became an excellent student because the only way I can
• 7:33
  Speaker 2: get away from my emotions is to bury myself with
• 7:35
  Speaker 2: my books. And so what ended up happening for me
• 7:38
  Speaker 2: as I reflect on it, the gift in that adversity
• 7:42
  Speaker 2: was I got to grow up at age sixteen. Most
• 7:46
  Speaker 2: people don't grow up to their twenty one, twenty twenty
• 7:48
  Speaker 2: three years old. So with the way I look at
• 7:50
  Speaker 2: it now, I had like a seven or eight year
• 7:53
  Speaker 2: head start on all of my peers when it came
• 7:57
  Speaker 2: to being a successful a dough So by the time
• 7:59
  Speaker 2: I was a co at nineteen, everybody's partying. I'm already like,
• 8:03
  Speaker 2: I'm focused, you know, right. Yeah, for me, it was
• 8:07
  Speaker 2: it was like okay, cool, So you know, it really
• 8:11
  Speaker 2: was tough in the moment, But I always looked for
• 8:14
  Speaker 2: lessons and that they're like, what was God trying to
• 8:17
  Speaker 2: teach me? Oh? He was trying to teach me that.
• 8:22
  Speaker 2: You know, the earlier you start, the better chances you
• 8:25
  Speaker 2: are being successful. Oh, when you lose your parents at sixteen,
• 8:28
  Speaker 2: guess what. Guess what, You're not scared to do. You're
• 8:30
  Speaker 2: not scared to quit your job and start a business
• 8:32
  Speaker 2: because you already had the worst possible thing happened to
• 8:36
  Speaker 2: you already, which is losing your parents. Everything else is
• 8:40
  Speaker 2: table stakes. So my ability to take on risk is
• 8:44
  Speaker 2: so much higher than most people because I've already lived
• 8:48
  Speaker 2: the worst case scenario.
• 8:51
  Speaker 1: Wow.
• 8:51
  Speaker 2: And so when I approached when I approach life, like
• 8:53
  Speaker 2: things like, oh, that's risky, but like, nothing's risky than
• 8:56
  Speaker 2: like losing your parents, So I don't have to go
• 8:58
  Speaker 2: through that again. So whatever whatever failure that could come
• 9:01
  Speaker 2: from taking this risk, it's not gonna be worse than
• 9:03
  Speaker 2: what I've already been through. So I just would encourage
• 9:06
  Speaker 2: people who have been through parental losses or tough childhood experiences,
• 9:12
  Speaker 2: like you can't change the experience, right, but you can
• 9:16
  Speaker 2: change the effect of that experience on your future.
• 9:18
  Speaker 1: It's really amazing now. When I was reading in the
• 9:21
  Speaker 1: part about your life and there was this story about
• 9:24
  Speaker 1: a life insurance and how much it was, I woud
• 9:27
  Speaker 1: think it was fifteen thousand dollars and it had to
• 9:30
  Speaker 1: be used. And I don't want to detail out the
• 9:32
  Speaker 1: story because I want you to share with my autists
• 9:34
  Speaker 1: from your aunist standpoint, and that's when it really that's
• 9:37
  Speaker 1: when you first started understanding what a life insurance policy is.
• 9:40
  Speaker 1: Can you share us with that story?
• 9:43
  Speaker 2: Yeah. So when my father passed away, he had his
• 9:46
  Speaker 2: like W two job life insurance, which if you all
• 9:49
  Speaker 2: don't know the life insurance through it your job is
• 9:51
  Speaker 2: not a lot of money for it to take care
• 9:53
  Speaker 2: of your family. So it was a twenty five thousand
• 9:55
  Speaker 2: dollar life insurance policy. And after his funeral, couse, we
• 9:59
  Speaker 2: had about fifteen thousand dollars left divide between me, my brother,
• 10:03
  Speaker 2: and my sister. So that means after our father, who
• 10:07
  Speaker 2: was the breadwinner of our family is gone, all we
• 10:09
  Speaker 2: got is five thousand dollars each to figure it out.
• 10:13
  Speaker 2: And I just remember like that was when my money
• 10:19
  Speaker 2: learning journey started because I was like, Yo, this five thousand,
• 10:23
  Speaker 2: This five thousand dollars is my broke, right, Like, I
• 10:27
  Speaker 2: don't consider broke being at zero. I consider broke being
• 10:30
  Speaker 2: at this five thousand dollars level because I don't have
• 10:33
  Speaker 2: a fallback plan. So that was like my first understanding
• 10:36
  Speaker 2: of what an emergency fund. What emergency fund was. I
• 10:38
  Speaker 2: didn't know that was a name for it, but I'm like,
• 10:40
  Speaker 2: this is my last five thousand dollars. I don't like,
• 10:43
  Speaker 2: if this ever goes to four thousy, eight hundred and something,
• 10:46
  Speaker 2: I'm beyond broke. So that was kind of my first
• 10:49
  Speaker 2: financial literacy lesson. And although it wasn't a lot, it's
• 10:52
  Speaker 2: still was something. And that is just the value of
• 10:56
  Speaker 2: life insurance because when you're going through a death in
• 11:00
  Speaker 2: the family, the last thing you wanted, the last thing
• 11:04
  Speaker 2: you want to have to deal with on top of
• 11:06
  Speaker 2: that is worrying about paying bills. Death is enough, right,
• 11:11
  Speaker 2: So the value of life insurance in the way I
• 11:13
  Speaker 2: see the power of vice assurance now it's so much
• 11:16
  Speaker 2: more profound because I actually had an experience where the
• 11:19
  Speaker 2: life insurance proceeds did have a significant effect on my life,
• 11:22
  Speaker 2: even though it wasn't that much, right.
• 11:24
  Speaker 1: You know. But the whole thing about your story is
• 11:26
  Speaker 1: that each each time you talk is about moving forward,
• 11:31
  Speaker 1: you know. And I never heard the term you know,
• 11:34
  Speaker 1: just waddled there, you kept you always talk about moving forward,
• 11:36
  Speaker 1: moving forward, moving forward. And that's key, isn't it. Because
• 11:40
  Speaker 1: some people they can to just stay there and remain stuck,
• 11:44
  Speaker 1: as they say in that moment, and they can't. How
• 11:47
  Speaker 1: do you keep moving forward?
• 11:49
  Speaker 2: Card I understood that there was other people's other people's
• 12:07
  Speaker 2: future was tied into my obedience of doing the things
• 12:10
  Speaker 2: I was put on this plan to do. Okay, And
• 12:14
  Speaker 2: I feel like as tough as things get, the worst
• 12:21
  Speaker 2: thing that you can do is let that situation break you.
• 12:26
  Speaker 2: Because these situations are situations. You have two choices. You
• 12:29
  Speaker 2: can let the situation break you, or you can allow
• 12:31
  Speaker 2: the situation to make you right. So if you can't
• 12:35
  Speaker 2: change the past, the only thing you can change is
• 12:39
  Speaker 2: the future. So living in the past will not allow
• 12:44
  Speaker 2: you to change the future. So for me, it was
• 12:49
  Speaker 2: like I just didn't want to be as statistic and
• 12:51
  Speaker 2: I'm a control freak, and I don't believe that anybody
• 12:54
  Speaker 2: has more control of them. That's that's the reality. I'm
• 12:56
  Speaker 2: a control for I don't I don't believe anything else
• 13:00
  Speaker 2: have more control over my life than me. So I'm
• 13:03
  Speaker 2: going to put myself in position to try to change things,
• 13:06
  Speaker 2: because if I can't change it, then like, what's the
• 13:12
  Speaker 2: point of it? All right? So for me, it's just
• 13:15
  Speaker 2: move forward because you can't change the past, right as
• 13:18
  Speaker 2: you always have the ability to change your future.
• 13:20
  Speaker 1: Wow. Talking to car to Kolefil, he's recognized as one
• 13:22
  Speaker 1: of the top financial planners for millennials.
• 13:26
  Speaker 3: Please don't go anywhere. We'll be right back with more
• 13:29
  Speaker 3: money Making Conversations Masterclass. Welcome back to the Money Making
• 13:39
  Speaker 3: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
• 13:45
  Speaker 3: continues online at Moneymakingconversations dot com and follow money Making
• 13:50
  Speaker 3: Conversations Masterclass on Facebook, Twitter, and Instagram.
• 13:55
  Speaker 1: One of his theories is which I enjoyed talking to him,
• 13:58
  Speaker 1: is that finances, if you don't have it together, can
• 14:02
  Speaker 1: literally impact your health. How is that, Carter? So I
• 14:08
  Speaker 1: can make sure my audience don't die because they don't
• 14:11
  Speaker 1: have their accounts together, or they have bad credit. Help
• 14:14
  Speaker 1: us out, because this is one of the staples to
• 14:16
  Speaker 1: how you think and has motivated people to follow you
• 14:20
  Speaker 1: and invest in your vision to help them out. Talk
• 14:23
  Speaker 1: to its carter.
• 14:25
  Speaker 2: Yeah, So I believe that health is wealth and wealth
• 14:28
  Speaker 2: is health. Right, So if your finances are not in order,
• 14:32
  Speaker 2: number one, the stress of not having money to do
• 14:35
  Speaker 2: day to day things obviously can have a huge negative
• 14:38
  Speaker 2: effect on your day to day health. And they take
• 14:43
  Speaker 2: it deeper than that, Like a lot of people make
• 14:46
  Speaker 2: poor health decisions based on poor financial decisions.
• 14:49
  Speaker 1: That's true, right.
• 14:50
  Speaker 2: Some people only eat fast food because that's what they
• 14:54
  Speaker 2: can afford, because to eat healthier food it's more expensive.
• 14:58
  Speaker 2: So they're literally deteriorating their only asset that they have,
• 15:03
  Speaker 2: which is their bodies that would be long lasting. They're
• 15:06
  Speaker 2: they're the depleting their biggest asset because of financial concerns.
• 15:11
  Speaker 2: So again, as a kid a groupment in the South
• 15:13
  Speaker 2: touch Chicago, my parents used to order McDonald's all the
• 15:17
  Speaker 2: time because that's all we could afford, right, And so
• 15:20
  Speaker 2: some some people literally make their health decisions based on
• 15:23
  Speaker 2: their wealth standpoint and functionality, which is which is tough
• 15:29
  Speaker 2: to see Now.
• 15:31
  Speaker 1: It's really interesting when I when I listen to you
• 15:33
  Speaker 1: talk the motivation now the award show, I want to
• 15:36
  Speaker 1: go back to the award show because is he coming
• 15:39
  Speaker 1: back to Atlanta? First of all, I want to ask
• 15:41
  Speaker 1: that question.
• 15:42
  Speaker 2: Yes, it is coming back to Atlanta July eighteenth through
• 15:46
  Speaker 2: the twentieth, So yes, it is coming to Atlanta.
• 15:50
  Speaker 1: I would not describe it, but I would tell you
• 15:53
  Speaker 1: it is fun. They come down the aisle, the music
• 15:57
  Speaker 1: is blaring him and it's part to George. They'd be
• 15:59
  Speaker 1: dam answering if people be standing up rocking to them.
• 16:02
  Speaker 1: They hit that stage, they are the host of the event,
• 16:06
  Speaker 1: and it's all celebrating success, black success, people of color
• 16:11
  Speaker 1: success in the financial community. Am I correct when I
• 16:15
  Speaker 1: say that? Carter?
• 16:16
  Speaker 2: Absolutely, You're absolutely correct?
• 16:19
  Speaker 1: And what caused you two? Now I'm only talking to you,
• 16:23
  Speaker 1: so I'm gonna just say you to come up with
• 16:25
  Speaker 1: this idea and to grow this vision, which is a
• 16:29
  Speaker 1: celebration of what you're trying to get people to see.
• 16:33
  Speaker 1: Make this money, share your success, and then people see
• 16:36
  Speaker 1: that success and maybe they're motivated to want to be
• 16:39
  Speaker 1: successful too by operating through the right tools.
• 16:42
  Speaker 2: Correct, Absolutely, absolutely so. The thesis of the Award Show
• 16:48
  Speaker 2: is based on the thesis of black culture. Right. We
• 16:51
  Speaker 2: love being celebrated for our accomplishments, which is why we
• 16:56
  Speaker 2: buy nice clothes, which is why we buy nice cars,
• 16:59
  Speaker 2: because we want to say, hey, show people, Hey, I'm successful. Right,
• 17:03
  Speaker 2: And so what we decided to do was kind of
• 17:05
  Speaker 2: flip the narrative on its head. Right, instead of being
• 17:09
  Speaker 2: rewarded or applauded for buying nice things, why don't you
• 17:14
  Speaker 2: get awarded or applauded for investing in nice things? Right,
• 17:18
  Speaker 2: Because the problem with investing is wealth is what you
• 17:22
  Speaker 2: cannot see. You can't see that somebody has a million
• 17:25
  Speaker 2: dollar IRA, you can't see that somebody has a multi
• 17:28
  Speaker 2: million dollars for one K. You can't see that somebody
• 17:31
  Speaker 2: has a forty million dollar like insurance policy. Those things
• 17:34
  Speaker 2: you can't wear them on a T shirt. Right. So,
• 17:37
  Speaker 2: all those people are doing the right thing, they rarely
• 17:40
  Speaker 2: get celebrated for doing the right thing financially. So with
• 17:43
  Speaker 2: the Award Show, we said we're going to award and
• 17:46
  Speaker 2: celebrate those people who are doing the right things financially.
• 17:50
  Speaker 2: So we have awards people hitting it at first, one
• 17:52
  Speaker 2: hundred thousand dollars in net worth half a million dollars
• 17:55
  Speaker 2: in networth, million dollars in networth. Our highest client got
• 17:58
  Speaker 2: awarded last year for having a ten million dollar network,
• 18:01
  Speaker 2: and she said that was her first time being celebrated
• 18:05
  Speaker 2: since college. You imagine that you've been doing everything right
• 18:09
  Speaker 2: you're supposed to do financially, you accumulated a ten million
• 18:12
  Speaker 2: dollar networth and you have it. The last time you
• 18:14
  Speaker 2: were celebrated was in college. So the thesis of the
• 18:17
  Speaker 2: award show came about said, we're going to celebrate people
• 18:20
  Speaker 2: for building wealth and have this is the biggest celebration
• 18:23
  Speaker 2: of black wealth that the United States has ever seen.
• 18:26
  Speaker 1: Well, it shows and that's why I want to make
• 18:28
  Speaker 1: sure I bring up so month of July. How can
• 18:31
  Speaker 1: they find out information about the event if they want
• 18:33
  Speaker 1: to attend and see why I'm so excited why I
• 18:37
  Speaker 1: have you on this show because of the fact that
• 18:39
  Speaker 1: I'm gonna let them say where it's going to be at,
• 18:41
  Speaker 1: and then I'm gonna come back and talk about the
• 18:43
  Speaker 1: fact that you guys are at an age, a millennial age,
• 18:46
  Speaker 1: where I was nowhere thinking like that, but shares that
• 18:50
  Speaker 1: information so we can participate at the event if we
• 18:54
  Speaker 1: have time in the month of July.
• 18:57
  Speaker 2: Yeah, if you go to Meloninmoney Awards dot com melton
• 19:00
  Speaker 2: in Money Awards dot com, you'll see the website where
• 19:05
  Speaker 2: tickets are available for purchase, or they can justly see
• 19:10
  Speaker 2: what to see when the warshow was going to be
• 19:12
  Speaker 2: and yeah, that's it.
• 19:14
  Speaker 1: Now here's the cool thing about it. You go to
• 19:16
  Speaker 1: their website. Young people, just young people. Just I'm gonna
• 19:19
  Speaker 1: tell you something. May I joined the fraternity and makasif
• 19:21
  Speaker 1: five love. It changed my whole life. But I was
• 19:25
  Speaker 1: not thinking about investing in the stock market. I wasn't invested.
• 19:28
  Speaker 1: I wasn't investing in nothing. I may have a savings
• 19:31
  Speaker 1: account that of trying to pull the money out as
• 19:32
  Speaker 1: fast as I put it in. What what encourages you
• 19:37
  Speaker 1: when you see the people surrounding you, card your age
• 19:41
  Speaker 1: group or maybe a little bit younger, a little bit older,
• 19:44
  Speaker 1: understanding the value of the stock market and how to
• 19:48
  Speaker 1: invest money.
• 19:52
  Speaker 2: It's very empowering to watch my tears and my colleagues
• 19:58
  Speaker 2: get excited about investing and doing the right things with
• 20:03
  Speaker 2: their money. Actually had a call with a friend of mine.
• 20:07
  Speaker 2: He checked his investment account because he hasn't checked it
• 20:09
  Speaker 2: since I helped him set it up, and he's like, dude,
• 20:12
  Speaker 2: like he's I opened my account and it said thirty
• 20:15
  Speaker 2: three thousand dollars and it was green, and so what
• 20:17
  Speaker 2: does that mean? I said, that means that your money
• 20:19
  Speaker 2: made you thirty three thousand dollars. He did, Wait, so
• 20:22
  Speaker 2: you mean to tell me I did nothing in the
• 20:25
  Speaker 2: past few months and my money made me thirty three
• 20:27
  Speaker 2: thousand dollars. Absolutely, that is the power of investing. And
• 20:31
  Speaker 2: one of my favorite quotes to tell new investors is
• 20:34
  Speaker 2: that it's okay to sleep in late when your money
• 20:38
  Speaker 2: woke up early. And I love it. As a T
• 20:43
  Speaker 2: shirt brother, as a T shirt man, I love it.
• 20:50
  Speaker 2: It's just amazing to see that, you know, people that
• 20:54
  Speaker 2: look like us are understanding the value of their money,
• 20:58
  Speaker 2: and I understand the value of making their money work
• 21:00
  Speaker 2: harder for them than they work for it.
• 21:02
  Speaker 1: Well, you know, when we talk about money, we talk
• 21:04
  Speaker 1: about the word. It's a word that gets thrown around
• 21:06
  Speaker 1: a lot card. If you could really help my audience
• 21:08
  Speaker 1: out the word generational wealth. I hear a lot of
• 21:13
  Speaker 1: this show. Can you explain to me, maybe help me out?
• 21:16
  Speaker 1: I hear it a lot. Nobody explains to me what
• 21:18
  Speaker 1: it really is and also help out my audience when
• 21:20
  Speaker 1: people are throwing out around those two words generational wealth.
• 21:26
  Speaker 2: Yeah, I just think most people don't have the best
• 21:28
  Speaker 2: definition for generational wealth. They think that leaving money for
• 21:32
  Speaker 2: their kids is generational wealth. And my definition is your
• 21:38
  Speaker 2: generational wealth is having your money last for more than
• 21:41
  Speaker 2: just one generation, right, Like, I don't want to do
• 21:44
  Speaker 2: all this work and then my kids get to see it,
• 21:47
  Speaker 2: but then their kids never get to see it, right, right,
• 21:50
  Speaker 2: So generational wealth is having the wealth that you've accumulated
• 21:54
  Speaker 2: during your lifetime set your family up for generations and
• 21:58
  Speaker 2: generations and generations to come so that your great grandkids
• 22:02
  Speaker 2: they might not never meet you. They're like, yo, I
• 22:05
  Speaker 2: have this trust set up that when I turn eighteen
• 22:07
  Speaker 2: to automatically a half a million dollars from my great
• 22:11
  Speaker 2: great grandfather. I never met him, but he made sure that,
• 22:15
  Speaker 2: you know, by the time I turned eighteen, I had
• 22:17
  Speaker 2: an option of paying for college through that or starting
• 22:20
  Speaker 2: my own business and not needing anybody else's money. So
• 22:23
  Speaker 2: I believe the generational wealth is having your money last
• 22:26
  Speaker 2: for multiple generations based off the work that you did
• 22:30
  Speaker 2: while you're alive.
• 22:31
  Speaker 1: Ladion Jenlemen, my guess is a superstar. He's a superstar
• 22:34
  Speaker 1: in this business, a CPA who empowers individual to achieve
• 22:38
  Speaker 1: financial freedom. Between now and the award show, what are you?
• 22:42
  Speaker 1: What are you gonna be doing now? Card? Where are
• 22:44
  Speaker 1: you going? Where you traveling?
• 22:45
  Speaker 3: Man?
• 22:45
  Speaker 1: Who are you making rich? Talk to me, bro, talk
• 22:48
  Speaker 1: to me.
• 22:49
  Speaker 2: Well, I'm not traveling for a little while, I lived
• 22:52
  Speaker 2: in other countries. I'm happy to be sitting down. But
• 22:55
  Speaker 2: one thing that we are doing is we're hosting a
• 22:57
  Speaker 2: absolutely free class, a money class, everywhere every Wednesday night,
• 23:01
  Speaker 2: seven o'clive Eastern. Probably write this for the next two months.
• 23:05
  Speaker 2: And if you simply go to my Instagram page, which
• 23:09
  Speaker 2: is Cofield Underscore Advisor on all social media platforms, the
• 23:14
  Speaker 2: link in my bio will take you to the free
• 23:16
  Speaker 2: class and then you can simply join us. I learn
• 23:18
  Speaker 2: about money for free on a Wednesday.
• 23:20
  Speaker 1: So, my brother, I really appreciate, appreciate you taking you know.
• 23:24
  Speaker 1: I've reached out to you in Chicago. Coach Chicago, So
• 23:26
  Speaker 1: can you come on with show car you said, I'm
• 23:28
  Speaker 1: there because you're all a special talent. Brother, and thank
• 23:32
  Speaker 1: you for allowing me to share your honest story and
• 23:35
  Speaker 1: continue to grow and I will see you in July.
• 23:38
  Speaker 2: Okay, yes, sir, thank you for having me brother, have
• 23:40
  Speaker 2: a great day.
• 23:41
  Speaker 1: We talked soon again. That's money Making Conversation master Class
• 23:45
  Speaker 1: and I as we close out another edition of Money
• 23:47
  Speaker 1: Making Conversation Master Class hosted by me Rashaan McDonald. Thank
• 23:51
  Speaker 1: you to our guess on the show today and thank
• 23:53
  Speaker 1: you our listening audience now. If you want to listen
• 23:56
  Speaker 1: to any episode I want to be a guest on
• 23:58
  Speaker 1: the show, visit our will website Moneymaking Conversations dot com.
• 24:03
  Speaker 1: Our social media handle is money Making Conversations. Join us
• 24:06
  Speaker 1: next week and remember to always lead with your gifts,
• 24:09
  Speaker 1: Keep winning. This has been another edition of Money Making
• 24:13
  Speaker 1: Conversation Masterclass posted by me Rashaun McDonald. Thank you to
• 24:17
  Speaker 1: our guests on the show today and thank you for
• 24:19
  Speaker 1: listening to audience now.
• 24:20
  Speaker 4: If you want to listen to any episode I want
• 24:22
  Speaker 4: to be a guest on the show, visit Moneymaking Conversations
• 24:26
  Speaker 4: dot com. Our social media handle is money Making Conversation.
• 24:30
  Speaker 4: Join us next week and remember to always lead with
• 24:32
  Speaker 4: your gifts.
• 24:33
  Speaker 1: Keep winning.