Latest / The Steve Harvey Morning Show / Ashley M. Fox Full Interview

Transcript

Ashley M. Fox Full Interview · The Steve Harvey Morning Show

• 0:00
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  Speaker 1: Slash my heart my next guest. First time on the show.
• 1:11
  Speaker 1: I get these guests they come in, I get excited
• 1:14
  Speaker 1: because guess what I learned things from them? Is a
• 1:16
  Speaker 1: former Wall Street Analysts, founder of Amplified, merging of the
• 1:21
  Speaker 1: words empower and modify is an educational based organization creates
• 1:26
  Speaker 1: to help both adults and children understand financial literacy. That's
• 1:30
  Speaker 1: a really tricky term there. She's a personal financial coach,
• 1:34
  Speaker 1: financial journalist for a Black enterprise, and as magazine and
• 1:39
  Speaker 1: international speaker. Please work with the money making conversation. Ashley M. Fox? Hi,
• 1:45
  Speaker 1: how are you pretty good? Miss Fox? Where are you
• 1:48
  Speaker 1: are right? Where are you based there? Right now? Philadelphia?
• 1:51
  Speaker 1: When you say you are a former Wall Street Analysts,
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  Speaker 1: what does that mean? Because if your Wall Street there's
• 1:57
  Speaker 1: a lot of people, especially minorities, because we don't even
• 2:00
  Speaker 1: understand how you make money in the Wall Street world.
• 2:03
  Speaker 1: Break it down a little bit to it, and we
• 2:05
  Speaker 1: wanted to take that take the time to understand the
• 2:07
  Speaker 1: money making conversation. Exactly what did you do and what
• 2:10
  Speaker 1: role do you play in that? Okay? So I went
• 2:13
  Speaker 1: to Howard University, graduated, and I decided to work on
• 2:17
  Speaker 1: Wall Streets. I had four internships in school, and three
• 2:20
  Speaker 1: of them I worked at Wall Street investment banks. So,
• 2:22
  Speaker 1: and I lived in New York two of the summer.
• 2:23
  Speaker 1: So that's when I realized I wanted to work on
• 2:25
  Speaker 1: Wall Street. They paid really great money, um, and so ideally,
• 2:28
  Speaker 1: I actually just wanted to work on Wall Street because
• 2:30
  Speaker 1: you got one of the highest staining jobs out of school.
• 2:32
  Speaker 1: And so as an analyst, I worked in asset management.
• 2:34
  Speaker 1: And so what I did was work with a team
• 2:36
  Speaker 1: of people who helped manage the money for clients who
• 2:39
  Speaker 1: made twenty five million dollars or more. So I saw
• 2:42
  Speaker 1: everything where they live, where they travel, what they invested in,
• 2:45
  Speaker 1: how much they didn't say in taxes. Pretty much, if
• 2:47
  Speaker 1: you have twenty five million dollars or more, UM, you
• 2:50
  Speaker 1: don't need a financial advice, you needed an asset manager.
• 2:52
  Speaker 1: And so, whether it was helping them with their trust
• 2:55
  Speaker 1: in the States, whether it was getting a mortgage on
• 2:58
  Speaker 1: their vacation home NAPO or in somewhere of Florida wherever
• 3:03
  Speaker 1: it is, or in the Hamptons or just helping them
• 3:06
  Speaker 1: invest to build that generational wealth to pass it down
• 3:08
  Speaker 1: to their children. Um, we were there to provide them
• 3:11
  Speaker 1: with the tools and resources to help them sustain their
• 3:13
  Speaker 1: wealth so they didn't lose it. Now here's the crazy
• 3:16
  Speaker 1: part about that statement. You said million dollars of more correct,
• 3:21
  Speaker 1: and you said that number like it's a lot of them.
• 3:25
  Speaker 1: It is. It's a whole different world and the And
• 3:29
  Speaker 1: it was interesting though a lot of this, A lot
• 3:32
  Speaker 1: of people don't realize that a lot of the things
• 3:34
  Speaker 1: that we use every day, from the cars that we drive,
• 3:36
  Speaker 1: to the clothes that we wear, to the football teams
• 3:38
  Speaker 1: we watched. Um. Interestingly enough, a lot of wealthy people
• 3:41
  Speaker 1: who own football teams that is not their general source
• 3:43
  Speaker 1: of income. That's actually just something they did because it
• 3:47
  Speaker 1: was fun to do. Most NFL owners, Basketball, NBA team owners,
• 3:51
  Speaker 1: that is not how they got their wealth. They essentially
• 3:55
  Speaker 1: that is just something to do with their money. Um,
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  Speaker 1: and they may just have some sort of joy around sport,
• 4:00
  Speaker 1: but they did not build their wealth. The majority of
• 4:02
  Speaker 1: them buying the sports teams that is just something extra
• 4:04
  Speaker 1: that they do because they have so much money. But
• 4:07
  Speaker 1: it is it's a completely different world out there, and
• 4:09
  Speaker 1: so the owners and CEOs of these companies that we
• 4:12
  Speaker 1: don't even know exists, Um, they ideally were our clients. Now,
• 4:17
  Speaker 1: so you Howard University, and you said, as you said casually,
• 4:23
  Speaker 1: I wanted to work on Wall Street, and then you
• 4:26
  Speaker 1: wind up working on Wall Street. How do how does
• 4:30
  Speaker 1: the want in the actual accomplishment happened? Um, I think
• 4:36
  Speaker 1: to be And again, when I was in high school,
• 4:38
  Speaker 1: I wanted to look nice and make a lot of money.
• 4:41
  Speaker 1: I never had visions of running a business. I never
• 4:43
  Speaker 1: was one of those students that that I wanted to
• 4:45
  Speaker 1: be my old boss. I always envisioned myself as an
• 4:47
  Speaker 1: African American working on Wall Street, something prostigures, something high paced,
• 4:52
  Speaker 1: um competitive, And I knew that in order to get there,
• 4:56
  Speaker 1: I was competing with the Harvards and the Yells of
• 4:58
  Speaker 1: the world. And so if they were looking for prestigious
• 5:00
  Speaker 1: black individuals, they were coming to Howard University. And so
• 5:04
  Speaker 1: at Howard all of these companies will come to recruit.
• 5:07
  Speaker 1: So I got exposed to the opportunities that these companies
• 5:10
  Speaker 1: had available for the students. And when I got my
• 5:13
  Speaker 1: first internship, and this is interesting to have my first
• 5:16
  Speaker 1: internship on Wall Street. I don't know what they paid now,
• 5:19
  Speaker 1: but I know I made ten thousand dollars in the
• 5:20
  Speaker 1: summer sulf and so I was nineteen years old making
• 5:24
  Speaker 1: a bunch of money. Um, And I was like, I
• 5:26
  Speaker 1: like this. I like the feeling, I like the people
• 5:28
  Speaker 1: are like the environment. I absolutely love New York City.
• 5:31
  Speaker 1: And so whatever I had to do to be in
• 5:33
  Speaker 1: that position post graduation, I did when I needed to
• 5:37
  Speaker 1: do to work on Wall Street. But Howard University played
• 5:39
  Speaker 1: a very big role in exposing me to these companies,
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  Speaker 1: to these opportunities to see, hey, that it is actually
• 5:45
  Speaker 1: possible for me to go and have a career on
• 5:48
  Speaker 1: Wall Street in New York City. Now said, you're you know,
• 5:53
  Speaker 1: you're having success on Wall Street. As an analysts seeing
• 5:55
  Speaker 1: a lot of people with this generational money, these are counts.
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  Speaker 1: What what was running through your mind when you around
• 6:03
  Speaker 1: something that you see success? But are you really a
• 6:07
  Speaker 1: part of this success? Um? So a couple of thoughts
• 6:10
  Speaker 1: turns through my mind. I was in their met it
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  Speaker 1: was exciting, Like I just I saw every single thing,
• 6:17
  Speaker 1: every dollar you spent, every I saw everything. Um. But
• 6:21
  Speaker 1: after I would say eight or nine months, I got
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  Speaker 1: more joy and had the desire to pick their brain
• 6:26
  Speaker 1: or how they got their money, not teach them how
• 6:29
  Speaker 1: they keep it. But the only issue is that when
• 6:31
  Speaker 1: I'm gonna go back home to Philadelphia, people thought I
• 6:34
  Speaker 1: was rich. So because I was making six figures, because
• 6:37
  Speaker 1: I traveled, I wore nice clothes, people thought I had money.
• 6:40
  Speaker 1: And I realized that there was a big disconnect to
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  Speaker 1: how our community saw well and what wealth really was,
• 6:46
  Speaker 1: and how they thought, how they operated, how they talk
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  Speaker 1: their kids, what they read. It's a completely different lifestyle
• 6:52
  Speaker 1: and we are oblivious to um. And I think we
• 6:55
  Speaker 1: shouldn't have to come from money for us to learn
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  Speaker 1: about it. You don't, You shouldn't have to choose was
• 7:00
  Speaker 1: a career on Wall Street to then see how wealthy
• 7:02
  Speaker 1: people operate, manage and invest their money. So I think
• 7:05
  Speaker 1: it's something that we use every day. So why isn't
• 7:08
  Speaker 1: it given to us to talk to us every day?
• 7:10
  Speaker 1: And so that's why you created the the You combined
• 7:13
  Speaker 1: in power and Modify and created the Educational Obey Organization
• 7:17
  Speaker 1: and created the help adults. That's me and our children
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  Speaker 1: understand financial literacy. What is financial literacy? Um? So, so
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  Speaker 1: the reason I made that word up is because I
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  Speaker 1: think we know you made it up. Now we know
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  Speaker 1: that I was trying to figure out who I was
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  Speaker 1: and what I what I wanted to give to the world.
• 7:38
  Speaker 1: And I was a teacher, I was a psychologist, I
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  Speaker 1: was a shoulder to crying on. I was a career counsel.
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  Speaker 1: I was a lot of things. And it's like, okay,
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  Speaker 1: but the feeling that I am bed in the hearts
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  Speaker 1: and minds of people is not just about money. It's
• 7:49
  Speaker 1: about the shifting of the mind, because I feel like
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  Speaker 1: if your mind is right, your bank account will be right.
• 7:55
  Speaker 1: When you think of wealth, you think of longevity. When
• 7:57
  Speaker 1: you think of rich, you think of a lot of
• 7:59
  Speaker 1: money right now. Out wealth is having a lot of
• 8:01
  Speaker 1: money forever. And that is one of the core differences
• 8:03
  Speaker 1: that I saw with our clients. They were worrying about
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  Speaker 1: giving money to their kids, kids, kids, just so they
• 8:09
  Speaker 1: didn't have to pay taxes on the money, whereas the
• 8:11
  Speaker 1: majority of people in our community are actually waiting for
• 8:14
  Speaker 1: a tax refunds, not realizing that whether people don't get
• 8:17
  Speaker 1: tax refunds, they're trying to avoid paying taxes in any
• 8:20
  Speaker 1: way possible and to sustain and keep your wealth to
• 8:23
  Speaker 1: pass it on generation as a generation, and so for
• 8:25
  Speaker 1: me it was like, Okay, how can I build this
• 8:28
  Speaker 1: concept and shift our mindsets? Because everything I teach people,
• 8:32
  Speaker 1: whether you're an adult or a child, you can google it,
• 8:34
  Speaker 1: Like what a stock is, you can google those things.
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  Speaker 1: There's a mental barrier that stops us from implementing the
• 8:40
  Speaker 1: things that we have access to and the things that
• 8:42
  Speaker 1: we see. And for me, emphasize the shifting of the mind.
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  Speaker 1: So essentially I give you the education, but I also
• 8:49
  Speaker 1: give you the inspiration to embedding you that you are
• 8:51
  Speaker 1: worthy enough to receive this information, that you are able
• 8:54
  Speaker 1: to do this, that you can invest. So now you're empowered,
• 8:58
  Speaker 1: you got educated your and what that ultimately does it
• 9:01
  Speaker 1: creates a shift in the mind because now you have
• 9:03
  Speaker 1: the information, now you have the inspiration. Now you say, hey,
• 9:06
  Speaker 1: I can do this. I believe in myself enough and
• 9:09
  Speaker 1: I you know, and this can be done. Which is
• 9:11
  Speaker 1: where to modify and the transition comes to who we
• 9:13
  Speaker 1: are to people. So financial education, I mean that's just
• 9:16
  Speaker 1: getting educated around money. But again, financial education you can
• 9:19
  Speaker 1: google and not even have a person present. The problem
• 9:22
  Speaker 1: is that we don't take this information and feel that
• 9:24
  Speaker 1: we are worthy enough of becoming wealthy because we are
• 9:27
  Speaker 1: not surrounded by it. Everything wrong, You're you're you can
• 9:30
  Speaker 1: talk and we're gonna be back. We're gonna talk some more.
• 9:33
  Speaker 1: I'm just amazing. I'm just gathering so many friends and
• 9:36
  Speaker 1: moneymaking conversations. More money making conversation with Sean McDonald. Actually,
• 9:40
  Speaker 1: m Fox, I'm back with Sean McDonald on my offer air.
• 9:46
  Speaker 1: You know this Fox created controversy talking about twenty five
• 9:50
  Speaker 1: million dollar. It was like like it was every we
• 9:52
  Speaker 1: are everyday people listen to this show. Well, I had
• 9:56
  Speaker 1: accounts for you know, everybody who had twenty five million
• 10:00
  Speaker 1: as are more. You know, down to the to the receipts,
• 10:02
  Speaker 1: their travel, their lifestyle and everything. And so now what
• 10:07
  Speaker 1: about these people, miss Fox who win the lotto? Where
• 10:13
  Speaker 1: do they make their mistakes because they go broke or
• 10:15
  Speaker 1: they don't know what to do with the money. What
• 10:17
  Speaker 1: advice would you give them from a financial literacy standpoint
• 10:20
  Speaker 1: to a person who wins the lottery? Um, So I
• 10:26
  Speaker 1: think ideally they lose their money because they're not accustomed
• 10:30
  Speaker 1: to having it. Um. And it's not until you do
• 10:33
  Speaker 1: you start feeling you are deserving of this lifestyle, that
• 10:36
  Speaker 1: you are grateful for this lifestyle that your mind can
• 10:39
  Speaker 1: coexist with the money, because if you're coming from a
• 10:41
  Speaker 1: place of lack, I want the money. I want the money.
• 10:44
  Speaker 1: I want the money I never had. I gotta have.
• 10:45
  Speaker 1: I gotta spend it. I got to do all those
• 10:47
  Speaker 1: things that I didn't get the opportunity to do what
• 10:48
  Speaker 1: I didn't have money. You're coming from a place of
• 10:50
  Speaker 1: lack versus a place of abundance. And ideally, if you're
• 10:53
  Speaker 1: putting out lack in the desire to obtain money, it's
• 10:55
  Speaker 1: coming from a place of I need to have it.
• 10:57
  Speaker 1: I gotta have it. From a survival standpoint, all you're
• 11:00
  Speaker 1: doing is putting out lack. So now the universe is
• 11:02
  Speaker 1: just going to give you back lack, which is why
• 11:03
  Speaker 1: money gets taken from you. I would say, someone who
• 11:06
  Speaker 1: wins a lottery, or not even someone who wins a lottery,
• 11:08
  Speaker 1: who comes across a large amount of money, you have
• 11:11
  Speaker 1: to ask yourself how long do you want this money
• 11:13
  Speaker 1: to to last you? Because you can give somebody a
• 11:15
  Speaker 1: million dollars and they can spend a million dollars, and
• 11:17
  Speaker 1: I've seen people spend a million dollars in lesson thirty
• 11:19
  Speaker 1: days who have not come from money, and so you
• 11:23
  Speaker 1: have to ask yourself, right, um, what what is it
• 11:30
  Speaker 1: that I want this money for and how long do
• 11:32
  Speaker 1: I want it to last me? What matters to me,
• 11:34
  Speaker 1: what's important to me? And one of the things that
• 11:36
  Speaker 1: I do with my clients in particular is get it
• 11:38
  Speaker 1: all out of your system. What do you want to buy,
• 11:40
  Speaker 1: the house, the car, the clothes, whatever it is that
• 11:42
  Speaker 1: you want, Get it out of your system, and then
• 11:44
  Speaker 1: put yourself in a position where that money will last
• 11:47
  Speaker 1: you forever. So that's where you're sitting, and you talk
• 11:48
  Speaker 1: to somebody in finance who can help you open different
• 11:51
  Speaker 1: types of investments. UM, whether it's different types of annuities,
• 11:54
  Speaker 1: or different types of insurance policies, or different types of
• 11:56
  Speaker 1: brokera accounts. Um. Everyone is different, and every ages different,
• 12:00
  Speaker 1: everyone goals are different. But you have the one get
• 12:02
  Speaker 1: it off the system, all the things that you want.
• 12:04
  Speaker 1: By no means that my thing don't gonna get the
• 12:06
  Speaker 1: things you want. You don't want to look up and
• 12:07
  Speaker 1: you have all these things you want. Two years from now,
• 12:10
  Speaker 1: you're back in the same lifestyle, having no money prior
• 12:13
  Speaker 1: to winning the money that you didn't see And so
• 12:15
  Speaker 1: I think it's prioritizing what matters, writing out your goals,
• 12:19
  Speaker 1: the life that you envision, and sitting with someone before
• 12:22
  Speaker 1: you go blow through everything. That's really interesting because I
• 12:25
  Speaker 1: can agree with her on because when you're an entertainment business,
• 12:30
  Speaker 1: you get a lumps of money and sometimes a large
• 12:32
  Speaker 1: lumps one of the money and you just you just
• 12:34
  Speaker 1: spend money without a plane, And I think that's the key.
• 12:38
  Speaker 1: I can remember or having cars and and I'm going, like,
• 12:42
  Speaker 1: what am I doing all these cars? And uh leasing cars?
• 12:46
  Speaker 1: And you know that means that in the least, I
• 12:48
  Speaker 1: don't even own it, but I'm paying like two three
• 12:50
  Speaker 1: thousand dollars a month on just monthly leases. You know.
• 12:53
  Speaker 1: But I'm telling uself, I could write this over my
• 12:55
  Speaker 1: taxes because I bought another business. But in the end,
• 12:57
  Speaker 1: I don't have the vehicle. So there's a lot of
• 13:00
  Speaker 1: things that you can get out there when you have
• 13:01
  Speaker 1: money that you can just spend it and it and
• 13:03
  Speaker 1: and it trivializes itself because if you don't think about
• 13:08
  Speaker 1: next month, next year, five years from now, then guess what,
• 13:11
  Speaker 1: you're making a big mistake when you are living in
• 13:13
  Speaker 1: a lifestyle with money is coming towards you now that
• 13:16
  Speaker 1: everyday person doesn't understand that because either they live in
• 13:19
  Speaker 1: check the check, or they trying to survive, or they
• 13:21
  Speaker 1: barely have a savings account. Now you what type of
• 13:24
  Speaker 1: people are you dealing with? What type of people are
• 13:26
  Speaker 1: you coaching? Miss Fox? Are you talking about everyday people
• 13:30
  Speaker 1: or people who have a certain financial pool of success? No? Um,
• 13:35
  Speaker 1: so I don't. I don't turn people away. I think
• 13:37
  Speaker 1: one of the things I don't do during my time
• 13:40
  Speaker 1: as a financial vivor, I don't solicit um because when
• 13:43
  Speaker 1: people are ready, they will come and Um. For me,
• 13:46
  Speaker 1: I've never said, hey, come work with me, come get
• 13:48
  Speaker 1: your money in order. When people are ready and they
• 13:51
  Speaker 1: they've exhausted all options, have made all the mistakes that
• 13:53
  Speaker 1: they could possibly have made themselves, they will surrender and
• 13:56
  Speaker 1: ask for help. And to be honest, if you if
• 13:59
  Speaker 1: you would have if you could have gotten it, you
• 14:00
  Speaker 1: would have been a different person today. So who you
• 14:03
  Speaker 1: are there has gotten you this far. So in order
• 14:04
  Speaker 1: to be somebody different, you have to do different and
• 14:06
  Speaker 1: people have to be ready to receive that. But for me,
• 14:09
  Speaker 1: I don't turn anybody away. Ideally, I just work for
• 14:13
  Speaker 1: people who want to learn how to make financially educated decisions,
• 14:17
  Speaker 1: so they are looking to get the education behind that.
• 14:20
  Speaker 1: And I truly believe when people are ready, when they
• 14:23
  Speaker 1: realize that, you know, I've made every mistake in the book,
• 14:25
  Speaker 1: I'm exhausted, I'm frustrated. Somebody has to help me. They're
• 14:28
  Speaker 1: taking the risk on them. But it's easier to work
• 14:31
  Speaker 1: with people who want help as a close to telling
• 14:33
  Speaker 1: someone you need help, because when you tell someone you
• 14:36
  Speaker 1: need they need help, it's actually more so offensive to them.
• 14:39
  Speaker 1: So when people are ready, they reach out, um, and
• 14:42
  Speaker 1: it's not they'll get referred or things like that. But
• 14:44
  Speaker 1: I've never said, hey, you need to get your life
• 14:47
  Speaker 1: in order, because it's a touchy subject. When people are
• 14:49
  Speaker 1: ready to get their life for order, and they see
• 14:51
  Speaker 1: the opportunity or they see someone or something that can
• 14:53
  Speaker 1: help them, they will make it a priority to get
• 14:56
  Speaker 1: themselves better financial because you are talking just successful people,
• 14:59
  Speaker 1: and know one thing about a successful person, You don't
• 15:02
  Speaker 1: want to tell them they they're they're dumb, or they're
• 15:04
  Speaker 1: making the mistakes. You know, you want to coach them
• 15:06
  Speaker 1: through the process and go, let's look at it this way.
• 15:09
  Speaker 1: How have you considered this? How about this? You never
• 15:12
  Speaker 1: just go right in. You should do this? All major pushback.
• 15:15
  Speaker 1: But if you say, have you considered this, here are
• 15:18
  Speaker 1: some options. Those are terms that if you're good at
• 15:22
  Speaker 1: what you do and she knows I'm telling the truth,
• 15:23
  Speaker 1: those are the terms you have to talk to when
• 15:25
  Speaker 1: you're talking to successful people, especially when you're talking about
• 15:27
  Speaker 1: their money and what they've done with their money. Now,
• 15:30
  Speaker 1: let's talk about ways to invest in. How to start?
• 15:33
  Speaker 1: That's a big controversy. And uh, and you see the
• 15:37
  Speaker 1: stock market, you know, you see Donald Trump talking about
• 15:39
  Speaker 1: the stock market. If if you walk away from the presidency,
• 15:42
  Speaker 1: the stock market is gonna crash. How do you invest in?
• 15:45
  Speaker 1: How do you start? And it is starting in the
• 15:47
  Speaker 1: stock market the key to starting. Um Well, if you
• 15:52
  Speaker 1: get down to the root of every type of investment,
• 15:54
  Speaker 1: pretty much every type of investment, it is all rooted
• 15:57
  Speaker 1: and connected to the stock market won't way shape before.
• 15:59
  Speaker 1: But more people don't know if those retirement plans, those pensions,
• 16:02
  Speaker 1: the hospitals you go to, they all take their money
• 16:06
  Speaker 1: and it's being invested somewhere. Um So people want need
• 16:10
  Speaker 1: to realize that saving is not going to build you wealth.
• 16:12
  Speaker 1: Investing will saven will keep your money safe. But it's
• 16:15
  Speaker 1: not going to increase your network by any means. And
• 16:18
  Speaker 1: I think we have this mindset of I have to
• 16:20
  Speaker 1: have money, I have to keep money, I have to
• 16:22
  Speaker 1: save money. That's a fear driven mentality, and that's coming
• 16:25
  Speaker 1: from a place of lacks of All you're focusing on
• 16:27
  Speaker 1: is fear. All you're going to attract is all the
• 16:30
  Speaker 1: things that you are scared of. When it comes to
• 16:32
  Speaker 1: invest in, the easiest way UM I always tell people
• 16:35
  Speaker 1: is to buy what you know. Once you understand the
• 16:37
  Speaker 1: core of the stock market, which ideally is just a
• 16:39
  Speaker 1: piece of ownership of a company, you essentially are investing
• 16:43
  Speaker 1: small pieces of your money in march businesses, and so
• 16:47
  Speaker 1: the easiest way to start is to buy what you know.
• 16:50
  Speaker 1: One of the exercises I often do with my students
• 16:52
  Speaker 1: and what adults is make a list of everything you
• 16:54
  Speaker 1: spend your time or money on. So from the water
• 16:57
  Speaker 1: you drink, the car you drive, the food you eat,
• 16:58
  Speaker 1: to close you where, the social media apps you use,
• 17:01
  Speaker 1: the phone you use, your cable company. All these companies
• 17:04
  Speaker 1: are making money off of your consumption. And especially specifically
• 17:07
  Speaker 1: in the black community, we have a one point three
• 17:09
  Speaker 1: chillion dollar buying powers which means that after all of
• 17:12
  Speaker 1: our bills are paid, there's one point three trillion dollars
• 17:15
  Speaker 1: being given to some company because we are always a consumer,
• 17:20
  Speaker 1: and so as opposed to giving our money away, sit
• 17:23
  Speaker 1: and think about how much does it cost to own
• 17:25
  Speaker 1: a piece of this company? Because a lot of the
• 17:27
  Speaker 1: large companies that we utilize every day are publicly traded
• 17:31
  Speaker 1: companies and you are able to buy stops. So for instance, Apple,
• 17:34
  Speaker 1: it costs more to own the new Apple iPhones than
• 17:37
  Speaker 1: it does to own a piece of Apple as an
• 17:39
  Speaker 1: entire company, and a lot of a lot of the
• 17:43
  Speaker 1: beverages that we drink. Just we have no idea everything
• 17:46
  Speaker 1: you touch and feel and consume is a company. Someone
• 17:51
  Speaker 1: is making money from the chair you're sitting on. Somebody
• 17:53
  Speaker 1: made that chair, and someone bought that chair because they
• 17:56
  Speaker 1: knew you were going to sit on it. Because you
• 17:58
  Speaker 1: are using that chair, that company makes money. We need
• 18:02
  Speaker 1: to have a proactive mindset on should I cannot go
• 18:04
  Speaker 1: invest in this company? And if you're loyal to the
• 18:07
  Speaker 1: brand on a consistent basis, they are consistently getting your consumption,
• 18:11
  Speaker 1: your money, or your time. And I think what wealthy
• 18:14
  Speaker 1: people value is ownership versus spending in the black community.
• 18:18
  Speaker 1: Most specifically, we want to look good, we want to
• 18:21
  Speaker 1: feel good because deep down the side, we don't always
• 18:23
  Speaker 1: feel like we are good, not realizing that these fortune
• 18:26
  Speaker 1: pot under companies are are here because of what we
• 18:30
  Speaker 1: spend our time and money on. Not saying that it's
• 18:33
  Speaker 1: bad to spend, but if you can't buy it twice,
• 18:36
  Speaker 1: you can't afford it. If you can't invest it twice,
• 18:38
  Speaker 1: you shouldn't be buying it. And so in this case,
• 18:40
  Speaker 1: it's not just buy the product, it's also owned stock
• 18:43
  Speaker 1: in the company that makes the products that we are
• 18:45
  Speaker 1: always using as people. MS Fox, you're too smart. I'm
• 18:49
  Speaker 1: telling you. I'm a smart guy. Now you're boring the
• 18:53
  Speaker 1: phone talking to you? Pretty smart now? And uh you
• 18:57
  Speaker 1: pretty you you? I'm jaousing um. I always like to
• 19:02
  Speaker 1: I always tell people, and they when they's smarter than me,
• 19:04
  Speaker 1: I gotta applaud them. Girl, you got it going on,
• 19:08
  Speaker 1: and they but your logic. But you're logic because I've
• 19:10
  Speaker 1: heard all these things and it's now do you I
• 19:13
  Speaker 1: know we're running out of time on quick? Do you
• 19:14
  Speaker 1: manage a fund? No? I do not. I purely am education.
• 19:20
  Speaker 1: You should you should manage your fund. You should, man,
• 19:23
  Speaker 1: I'm just telling you. You You know what they're talking about.
• 19:25
  Speaker 1: You should. You should start your own fund. And guess
• 19:27
  Speaker 1: who'll be first one following you in ra Sean mcdonn
• 19:30
  Speaker 1: following you in deep. I'm just telling you, you you know
• 19:32
  Speaker 1: that's where the money at. So you need to consider
• 19:34
  Speaker 1: that because you are a special young lady. You are special.
• 19:38
  Speaker 1: You got because your articulation, your your I mean, you
• 19:41
  Speaker 1: don't stutter when you talk. That's key when you're when
• 19:44
  Speaker 1: when people you don't know abody to stutter when they're
• 19:45
  Speaker 1: talking about your money. You want clarity. You know she
• 19:48
  Speaker 1: she don't break stride, she just be rolling. Do this.
• 19:51
  Speaker 1: Do this iPhone because you can buy stock because it's
• 19:54
  Speaker 1: cheaper than iPhone. I go, that's true, Apple stock one
• 19:56
  Speaker 1: tinter that iPhone. You know I could have six times
• 20:00
  Speaker 1: six shares iPhone. Stop so good, but we gotta go.
• 20:04
  Speaker 1: Miss Fox. Uh, you know you're coming back on the show.
• 20:06
  Speaker 1: You know what They're right? Yes, all right, you stay strong,
• 20:09
  Speaker 1: you keep winning this Rushan McDonald and Miss Ashley M. Fox.
• 20:12
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