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Speaker 1: Welcome to my show.

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Speaker 2: I'm Rashon McDonald, a host of Money Making Conversations Masterclass,

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Speaker 2: where we encourage people to stop reading other people's success

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Speaker 2: stories and start planning your own. Now, you don't want

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Speaker 2: to miss an episode, so please take a moment right

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Speaker 2: now to follow or subscribe to Money Making Conversations Masterclass.

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Speaker 2: Conversations Masterclass episodes drop daily. I want to keep you

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Speaker 2: on alert because my guests provide tips on how you

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Speaker 2: can uplift your community, improve your financial planning, motivation, or

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Speaker 2: advice on how to be a successful entrepreneur. Now, let's

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Speaker 2: get this podcast started. My guess is a personal financial

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Speaker 2: coach a wealth coaching Stratosphere. They provide expert financial coaching.

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Speaker 2: They have you take control of your money and build

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Speaker 2: a strong foundation for your future. Whether you need to

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Speaker 2: break free from debt, create a financial game plan, develop

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Speaker 2: better money habits, we are here to support you. That's

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Speaker 2: their model. Please work in the Money Making Conversations Masterclass.

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Speaker 2: Brother majah Hid Mohammad, how you doing, Brother Majaiat.

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Speaker 1: I'm doing great by God's grace, and I'm happy to

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Speaker 1: be here with you. Brother Rashon.

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Speaker 2: Okay, now you're basiced in Houston, Texas, and I'm born

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Speaker 2: and raised in Houston, Texas. So when I saw your

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Speaker 2: information come through my guests be Against portal, I jumped

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Speaker 2: on it immediately. Tell me what you're doing down in Houston, Texas.

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Speaker 1: Brother, JAHI, Well, we are committed to assisting people in

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Speaker 1: the personal financial space. My expertise is both the real estate,

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Speaker 1: personal finance, and insurance as well. So we're helping young

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Speaker 1: families or people in general, you know, to get off

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Speaker 1: to a fast start and not duplicate those mistakes that

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Speaker 1: were originated by myself coming up and trying to develop

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Speaker 1: my personal financial portfolio. Well, I always say you learn

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Speaker 1: from your mistakes.

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Speaker 2: You put it out there first, brother, But jah Hid,

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Speaker 2: what was some of the mistakes you made that you

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Speaker 2: don't want us to make?

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Speaker 1: Give us a couple levels. Well, let me start from

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Speaker 1: the beginning. I think as I grew up, the story

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Speaker 1: was told to me. My dad went to the military

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Speaker 1: and he was sending home checks to help take care

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Speaker 1: of the family. At that time, you know, they were

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Speaker 1: extremely poor. So it was a necessity, and he's sending

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Speaker 1: checks every month, every pay period. When he got out

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Speaker 1: of the military, unbeknownst to him, my grandmother, his mother,

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Speaker 1: never cashed any of those checks, so she gave the

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Speaker 1: money back to him, and he used that to buy

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Speaker 1: his first duplex, and that laid the foundation for his

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Speaker 1: financial future. In mimicking fashion, I joined the military, but

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Speaker 1: I didn't need to send checks. We were in a

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Speaker 1: different time. Although I'm sure he would have taken my checks,

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Speaker 1: but I was saving the money. And when I came

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Speaker 1: home from the military, my father helped me find my

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Speaker 1: first duplex, and it was from that duplex that was

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Speaker 1: the launching pad. I got married. A few years later.

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Speaker 1: I identified this thing called equity. I pulled out over

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Speaker 1: twenty thousand dollars in equity and I immediately start They

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Speaker 1: call it a Bird technique. Back then, there was no bird,

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Speaker 1: there was no YouTube and everything like that. But we

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Speaker 1: essentially I was buying real estate, renovating it, renting it out,

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Speaker 1: buying it, refinancing it, renting it out, that whole bird method.

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Speaker 1: So we did that UNTI I mastered a million dollar portfolio.

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Speaker 1: I thought I had enough to leave my W two job.

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Speaker 1: I left the W two job three months later. Hurricane

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Speaker 1: Katrina hit the New Orleans area and at that time

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Speaker 1: none of my portfolio year was that. What year was that?

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Speaker 2: Just remind everybody that the year hurricane in two thousand

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Speaker 2: and five.

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Speaker 1: Yes, sir, at that time, I wasn't covered it just

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Speaker 1: it wasn't required and a devastation like that never happened before,

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Speaker 1: so there was no flood insurance. So we literally had

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Speaker 1: these decimated properties with no money to repair it. And

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Speaker 1: I remember being on a phone with a one of

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Speaker 1: the I was in the middle of a renovation at

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Speaker 1: that time, and the lender was chiding me. He was like, look,

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Speaker 1: I need you to get back on it and rebuild

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Speaker 1: this property and rent it out. I'm like, I don't

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Speaker 1: think you understand. It's not my property. There's no there's

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Speaker 1: no houses for blocks and blocks. The whole community was gone.

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Speaker 1: So that level of devastation was really unfathomable to all

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Speaker 1: parties involved. So after suffering that, went to Houston to

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Speaker 1: try to regroup, and I said I'm gonna come back

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Speaker 1: and recommit to building my portfolio. And then in two

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Speaker 1: thousand and eight and behold, we know what happened with

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Speaker 1: the real estate market, and that was kind of like

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Speaker 1: the nail that kind of sealed the coffin. So from

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Speaker 1: there I kind of hit myself over the head with

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Speaker 1: that invisible ham. I was blaming myself, thinking I wasn't

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Speaker 1: what I thought I was, and for several years I

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Speaker 1: just went on and thought I was a failure as

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Speaker 1: it relates in the financial space. But there was a

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Speaker 1: net unique circumstance that turned things around. You know. I

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Speaker 1: got a phone call from my wife. We had one

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Speaker 1: car at the time. I was at work, and she said,

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Speaker 1: she said, bete, they turned off the water. So I

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Speaker 1: moved some things around. I said, look, go pay this

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Speaker 1: water bill. So she literally walked to the utility company

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Speaker 1: to pay that water bill before the children could come

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Speaker 1: back home and realize what had happened. And I remember

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Speaker 1: looking my wife in the face and I said, back,

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Speaker 1: this next chapter of our life, I promise you We're

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Speaker 1: gonna have a lot of problems, but it won't be

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Speaker 1: a financial one. And so I committed myself to turning

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Speaker 1: our situation around. And that was the impetus to where

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Speaker 1: I knew I needed to do something different. And that's

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Speaker 1: really really the motivator for helping other families to not

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Speaker 1: experience that experience that I felt in that moment. What

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Speaker 1: year was that, brother Mujahad? So yeah, two thousand and

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Speaker 1: eight was from the collaption of the home mortgage that

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Speaker 1: was collapsing of the house Katrina. Two thousand and eight,

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Speaker 1: collapse of the home mortgages. Yeah, and then you had

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Speaker 1: a at least at least seven years that I was

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Speaker 1: just doing ins and out odd things. I drove, Yeah,

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Speaker 1: I drove this. So yeah, so what's seven on top

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Speaker 1: of two thousand and eight? Twenty fifteen? Okay, So yeah,

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Speaker 1: we're in that area at this point. Okay, cool, So

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Speaker 1: now the next ten years you got a plan in place?

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Speaker 1: Absolutely okay? And what was that plan? And why did

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Speaker 1: you feel the need to do because you know you

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Speaker 1: already messed up in New Orleans?

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Speaker 2: Did that properties got washed away by mother nature Hurricane Katrina?

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Speaker 1: Why would you go back into real.

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Speaker 2: Estate after that level of devastation, brother, majority Well, here's.

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Speaker 1: What I learned, and I think a lot of times,

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Speaker 1: what we do in our community, we tried to lead

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Speaker 1: with business, looking for business to solve our personal financial situation.

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Speaker 1: And the light bulb that came up with me is

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Speaker 1: that if you saw your personal financial situation, you can

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Speaker 1: grow organically and come to the market in a different way.

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Speaker 1: So I prefer to come to the market as a

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Speaker 1: well capitalized investor as opposed to an undercapitalized investor. And

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Speaker 1: when you prioritize your personal finance, accualage and grow according

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Speaker 1: to stage by stage, you'll eventually reach a point to

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Speaker 1: where you can come to the market and be more productive.

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Speaker 1: Because the big, biggest lesson I learned was that leverage

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Speaker 1: without liquidity is stupidity. And so at that time I

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Speaker 1: was real estate rich but cash poor, and so I

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Speaker 1: coming around a second time, I overemphasizing controlling my personal

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Speaker 1: financial situation so that I can approach the market from

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Speaker 1: a totally different perspective.

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Speaker 2: So basically maintaining control with a plan absolutely so most

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Speaker 2: people get out there. And I will tell you when

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Speaker 2: I heard my first business, I just had a dream.

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Speaker 1: I didn't have a plan.

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Speaker 2: I didn't know the severity of what taxes were. I

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Speaker 2: didn't know understanding my employee is a workman's insurances that

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Speaker 2: need to be applied working with conversation, liability, all.

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Speaker 1: E and O.

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Speaker 2: If you're into advertisement all those things on top on

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Speaker 2: top to.

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Speaker 1: Stay in business. Legitimately, that's what you learned in New Orleans.

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Speaker 1: That's right, you were in.

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Speaker 2: Business, but you were not in business because it got

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Speaker 2: taken away because you didn't have all the necessary safeguards

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Speaker 2: in place. Now we're twenty fifteen. You contact me, said,

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Speaker 2: y Sean, I want to tell everybody about me. I'm

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Speaker 2: a personal finance coach. My business is wealth coaching stratus fear.

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Speaker 2: What is wealth coaching stratus fere?

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Speaker 1: So the term stratusphere is pretty much a metaphor. And

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Speaker 1: what we've done is we've identified five areas of financial

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Speaker 1: development in each the lowest being financial failure that's when

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Speaker 1: you have more money than month, right, the least desirable

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Speaker 1: stratus fere you want to be in. But the next

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Speaker 1: financial health, that's where most of us find ourselves paycheck

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Speaker 1: to paycheck, we're able to meet those obligations. And then

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Speaker 1: the next stratosphere is financial fluency. That's where things get

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Speaker 1: better where you have more money than month, and then

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Speaker 1: you graduate to financial wealth. And the difference between wealth

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Speaker 1: and fluency is the accumulation of income producing assets, until

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Speaker 1: finally you grow into financial independence, where your money is

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Speaker 1: making money. So with each one of those stratospheres is

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Speaker 1: a diameter of thought. That's determine how many stradu three

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Speaker 1: or four? It should be five, it's five strata tray

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Speaker 1: repeat them again. Financial failure, financial health, financial fluency, financial wealth,

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Speaker 1: and financial independence. There you go, yes, sir as I

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Speaker 1: missed that count.

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Speaker 2: Yeah, and so it started financial failure because that's where

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Speaker 2: a lot of people are.

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Speaker 1: I've been there. You know.

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Speaker 2: The reality that's why a lot of people get to

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Speaker 2: the next step is homeless. You know, pride comes into play.

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Speaker 2: You don't have a plan to get out of that spiral.

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Speaker 2: Why through the average person live in that financial failure

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Speaker 2: status or find themselves descending into that financial failure status.

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Speaker 1: I think some of the major contributors is self esteem, certainly,

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Speaker 1: But then some of the more practical things or problems

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Speaker 1: is that we take advice from other poor people. And

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Speaker 1: that's the biggest mistake you can make in financial failure.

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Speaker 1: A lot of times people that have jobs at I

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Speaker 1: don't want to name one of the low income places

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Speaker 1: just to be derogatory, but they got those jobs from

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Speaker 1: friends that got them in there. And so when you're

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Speaker 1: not where you are. You have to do what you

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Speaker 1: haven't been doing, and so taking advice for people that

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Speaker 1: are in different stratus fees of different spaces is the

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Speaker 1: biggest way you can gain that quantum leap into your

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Speaker 1: next stratus. Feld let mens you this.

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Speaker 2: Let's talk about personal financial philosophy. Your personal financial philosophy.

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Speaker 2: He gave us the five points. But I'm just a

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Speaker 2: guy walking into your office. Brother, But y'all hate and

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Speaker 2: I don't know. Man, I'm frustrated. I want to I

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Speaker 2: see people out there making money, but I'm not making

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Speaker 2: the money. I'm just an average guy working a forty

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Speaker 2: hour week job.

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Speaker 1: Can you help me? Yes, emphatically. Yes. The first step

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Speaker 1: is understanding that it's a process and not a product.

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Speaker 1: You can't come to anyone to buy something to ameliorate

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Speaker 1: your situation. It's a process and you got to be

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Speaker 1: committed to the process. And for a lot of people,

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Speaker 1: it begins by just looking at your situation. You'd be

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Speaker 1: surprised the people that just refuse to look at where

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Speaker 1: they stand. So you have to look at it and

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Speaker 1: receive some information that's objective to point you in the

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Speaker 1: right direction. And once you take a look, nine times

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Speaker 1: out of ten. It's not as bad as you think

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Speaker 1: it is with the pizzo.

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Speaker 2: What's side of the table you're sitting there, brother, Okay,

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Speaker 2: because I'm telling you I've had a headache on outside

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Speaker 2: of the table because it looked pretty bad.

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Speaker 1: But I think that what you're saying is don't allow

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Speaker 1: the moment to overwhelm you. Emphatically, I was saying, take

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Speaker 1: that deep breath. Absolutely, And also.

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Speaker 2: I think a key for me is looking around and

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Speaker 2: surrounding and see who's there to not so much give

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Speaker 2: you money, but that can support you, that you can

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Speaker 2: talk to, because a lot of people fall victim to

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Speaker 2: a lot of their calamity because they don't have anybody

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Speaker 2: to talk to because they, like you said Alreadier, a shame.

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Speaker 2: I feel that they don't want to look bad. They

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Speaker 2: don't want to feel that, hey, I'm a failure. Especially

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Speaker 2: the families, especially the friends, especially coworkers. Now when you're

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Speaker 2: talking about your financial philosophy, I'm a person.

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Speaker 1: I'm doing all right. I want to get into real estate.

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Speaker 1: You know already told me your real estate story two

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Speaker 1: thousand and five. Contrina, send your packet, set your pack it.

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Speaker 1: How do I get in to real estate? My suggestion

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Speaker 1: as far as real estate is to it should be

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Speaker 1: it should be pre approached with the capitalization phase, and

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Speaker 1: you should not approach that unless you're in you you

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Speaker 1: pass financial fluency. So what what happens is a lot

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Speaker 1: of times, you know, there's a lot of things out

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Speaker 1: here no money down. And these are true philosophies. You

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Speaker 1: can acquiesce real estate with creative financing with no money down.

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Speaker 1: But what the story that's not told is you can't

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Speaker 1: keep real estate with no money down. Real estate is

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Speaker 1: a heavy, financial intensive business and there's a uh, there's

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Speaker 1: a what you call it a factor. It allows it

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Speaker 1: acquires a lot of involvement. So the best thing you

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Speaker 1: can do is go through that capitalization phase, which we

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Speaker 1: know you beyond that, but I'm talking to the average person.

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Speaker 1: You need to spend time. What does that mean? Capitalization

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Speaker 1: that's just saving money. A lot of people frown on

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Speaker 1: saving money. But you can't approach an opportunity without an

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Speaker 1: opportunity fund. So you want to come to the market

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Speaker 1: well capitalized. That's my advice before you thinking about real estate, first,

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Speaker 1: focus on capitalizing your personal situation and it makes a

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Speaker 1: big difference when you come to the market well capitalized.

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Speaker 1: The first thing is you see opportunities that other people

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Speaker 1: don't see. And a lot of times when you have money,

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Speaker 1: things that you thought that you wanted when you were broke,

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Speaker 1: you don't want it anymore, you know. And lastly, I

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Speaker 1: say this, what does well capitalize look like? That's a

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Speaker 1: very subjective language, but we do know that. Warren Buffet's

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Speaker 1: right hand man, Charles Munger, he said, you got to

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Speaker 1: get your first hundred thousand. Do whatever you do to

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Speaker 1: do that. Please don't go anywhere. We'll be right back

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Speaker 1: with more money Making Conversations. This is masterclass.

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Speaker 2: No need for you to do me a favor right

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Speaker 2: now to follow or subscribe to money Making Conversation. It's

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Speaker 2: free and you can find it on the iHeartRadio app, Spotify,

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Speaker 2: Apple Podcasts, or wherever you get your podcasts. Please do

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Speaker 2: me that favor, follow a subscribe money Making Conversations. Welcome

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Speaker 2: back to Money Making Conversations Masterclass hosted by me Rashaan McDonald.

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Speaker 2: Money Making Conversation master Class continues online at Moneymaking Conversations

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Speaker 2: dot com and follow money Making Conversations Masterclass on Facebook,

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Speaker 2: X and Instagram. You have to plan to be successful

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Speaker 2: you have to plan. And so many people this will

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Speaker 2: always get to me. People want to get into real estate, right, brother,

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Speaker 2: And so they sit up there and they go buy land,

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Speaker 2: but they have no way of saying they forget the

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Speaker 2: one key thing about buying land taxes. They gonna come

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Speaker 2: get those taxes. So if you bought land, that's what

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Speaker 2: you was talking about having capitalization, that's what you're talking about,

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Speaker 2: having money. Because if you are not in a position

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Speaker 2: to make money off that land or that house that

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Speaker 2: you just bought, and you're not remodeling, you not trying

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Speaker 2: to flip it, the taxman's going to come and he's

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Speaker 2: going to come and want his money. And if he

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Speaker 2: doesn't get his money, he's going to find you and

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Speaker 2: find you. Eventually he's going to take back something that

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Speaker 2: you invested in. And that's a key element that a

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Speaker 2: lot of people don't think about when they buy land.

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Speaker 1: Land is key.

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Speaker 2: If you buy land and there's nothing happening on that land,

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Speaker 2: that could become a liability very very quickly.

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Speaker 1: Correct, brother, absolutely, And I want to really speak to

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Speaker 1: the one hundred thousand dollars because it may overwhelm someone

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Speaker 1: that's in another stratosphere and The point is that this

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Speaker 1: is a process, not a product. I'm speaking in a

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Speaker 1: certain stratosphere when I see one hundred thousand, and you

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Speaker 1: have to respect the process. So if you're in a

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Speaker 1: financial health stratosphere, you don't need to be thinking about

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Speaker 1: real estate. You got to be a thousand are before

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Speaker 1: you can be a ten thousand air before you can

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Speaker 1: be one hundred thousand are. So respect the process, know

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Speaker 1: where you are, and grow organically. It was I think

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Speaker 1: Abraham Lincoln is credited as saying, if he has six

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Speaker 1: hours to chop down a tree, he will spend four

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Speaker 1: of them sharpening his axe. So don't underscore preparation. It's

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Speaker 1: not that nothing is happening. Something is happening. You're developing

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Speaker 1: so that when you approach the market, you approach it

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Speaker 1: from a position of strip. I love you man, you

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Speaker 1: got it.

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Speaker 2: You got those catchphrases down path, man, I love talking

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Speaker 2: to you.

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Speaker 1: Man.

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Speaker 2: What is the benefits of financial coaching that you provide?

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Speaker 2: What are the benefits?

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Speaker 1: So it's being able to talk to someone kneecapped. To

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Speaker 1: kneecap is being able to hear from someone objectively, someone

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Speaker 1: to be able to feel what you feel. That's been

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Speaker 1: where you've been at. Like I said, most time we

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Speaker 1: take advice from people that are on our same level.

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Speaker 1: We need to hear from someone objectively on our next steps. Now,

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Speaker 1: financial coaching is a very serious step. So if you're

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Speaker 1: not seriouh, you might want to read a book, you

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Speaker 1: might want to watch the YouTube page. But when you

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Speaker 1: talk talking about financial coaching, you're talking about you're really

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Speaker 1: committed to going to that next level.

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Speaker 2: It's important that people understand. I'm talking to brother majah

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Speaker 2: Hid Muhammad. He's a personal financial coach located in Katie

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Speaker 2: right outside of Houston, Texas, and the name of the

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Speaker 2: company is Wealth Coaching Stratosphere. When we're talking about three

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Speaker 2: ways our clients can work with us, that means us

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Speaker 2: being you. How can a client come to you in

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Speaker 2: those three ways you benefit.

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Speaker 1: Them absolutely, So I would say you can eat. If

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Speaker 1: you just have a one off question or concern, just

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Speaker 1: shoo me an email. And if you don't mind hearing

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Speaker 1: an opinion, I can't give you investment advice. You want

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Speaker 1: to seek those professionals out, but I would love to

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Speaker 1: hear from you where you are and share ideas with you.

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Speaker 1: So that's one way to just an email. If you

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Speaker 1: lead a financial group or you promote financial literacy and

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Speaker 1: you want us to come on and have some concepts

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Speaker 1: and help develop that group. We talked to married circles

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Speaker 1: where there's there's singles and you talk about money and

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Speaker 1: marriage and different things like that. Or if you want

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Speaker 1: direct financial coaching, visit us at Wellcoaching statusphy dot com.

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Speaker 1: Set up a free consultation and we'll we'll put you

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Speaker 1: in the right direction. I love the word free here

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Speaker 1: that ladies and gentlemen, he will give you.

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Speaker 2: Like I said, man's not gonna give away his business career,

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Speaker 2: but he's willing to consult you, lay down a game plan,

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Speaker 2: find out if you guys can work together, then they

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Speaker 2: put a plan in place and you both can win.

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Speaker 2: But again, he's being honest. A lot of people who

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Speaker 2: charge the word consultant got to pay him a fee,

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Speaker 2: whether it's nine ninety nine or fifty nine ninety five.

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Speaker 2: He's not saying that. He's saying that basically, come to him,

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Speaker 2: contact him. He'll lay down the whole process in a

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Speaker 2: complimentary fashion. Find out if y'all can develop a work

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Speaker 2: a relationship. You get to work a relationship on the

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Speaker 2: point then you win together. Now, let's talk about the

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Speaker 2: personal financial condition of middle and common America, because that's

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Speaker 2: where every politician who runs for office talks about middle

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Speaker 2: income And then we got.

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Speaker 1: Tariffs sitting out there, brother Muhammad Man. So the good

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Speaker 1: news is that the economy doesn't have to be your economy.

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Speaker 1: And that's why we teach personal finance. And here's the

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Speaker 1: outlook of the average American that after take home pay,

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Speaker 1: twenty percent is committed to transportation, another thirty percent to housing,

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Speaker 1: and then another forty percent is committed to living expenses,

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Speaker 1: which leaves ten percent which we're trying to invest in

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Speaker 1: mutual funds, real estate and what we do. But if

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Speaker 1: we would just give focus to that ninety percent that

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Speaker 1: is encumbered through financing, we need to get the banks

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Speaker 1: out of our lives. They are over help us, overcome admitted,

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Speaker 1: and underfunded. But if you work to free up that cash,

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Speaker 1: now you create a tail wind that can really cause

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Speaker 1: you to change your financial reality. So I know we're

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Speaker 1: taught to have the credit cards. I know we're taught

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Speaker 1: to get the real estate forty five percent because of doubt,

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Speaker 1: it looks so good and all these the cards and

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Speaker 1: all these things, but we just need to get those

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Speaker 1: banks out of our lives, free up that cash flow.

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Speaker 1: Because look, if you have a six figure income, your

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Speaker 1: problem is you. And I hate to sound so blunt

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Speaker 1: like that. It's about living within your means and being

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Speaker 1: a partner with your partner and coordinating your personal financial

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Speaker 1: reality and you can really change your situation. Wow, now

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Speaker 1: we were talking about banks.

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Speaker 2: Now on your card, you sent me about infinite banking concept.

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Speaker 2: I've never heard that. What is that infinite banking concept?

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Speaker 1: Help me out there, brother Mahama. A gentleman named Nelson

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Speaker 1: Nash he identified a concept that he dubbed the infinite

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Speaker 1: banking concept, And through the infinite banking concept, we're taught

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Speaker 1: how to gain control of the banking function in our lives.

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Speaker 1: That's something we really don't think about. But when we

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Speaker 1: want to buy a home, when we want to buy

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Speaker 1: a car, when we want an education, we have to

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Speaker 1: go to third party gatekeepers that will determine if we

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Speaker 1: can have that. In building your own banking you learn

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Speaker 1: how to use a life insurance policy for its living

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Speaker 1: benefits to accumulate capital that can in turn allow you

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Speaker 1: to access for business opportunities. So I was my barber.

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Speaker 1: We were in a barbershop. He decided to leave and

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Speaker 1: he sorted his own barbershop. So we were just getting

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Speaker 1: the standard cut and he said, hey.

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Speaker 2: You need a chair in another barbershop.

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Speaker 1: Yeah. So yeah, my barber in a barbershop and he

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Speaker 1: decided to go do his own thing. So yet so yeah,

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Speaker 1: So I'm at his chair in the barbershop and we're talking.

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Speaker 1: He said, hey, you know, the barbershop we left is

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Speaker 1: up for sale, and so I said, oh, that's interesting.

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Speaker 1: Why the manager of the barbershop, while he didn't buy it,

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Speaker 1: he said, he don't have that type of money. I said,

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Speaker 1: you don't want to buy it. He said, if I

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Speaker 1: had the money, I would buy it. So then light bulb.

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Speaker 1: You know, opportunity dropped in my head because I had resources. Though,

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Speaker 1: that's the point I'm trying to make. Because I had capital,

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Speaker 1: an opportunity came to me and I was able to

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Speaker 1: access that capital without permission from anyone. And this is

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Speaker 1: the power of the infinite banking concept. So the infinite

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Speaker 1: banking concept is a course. It should be approached as

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Speaker 1: a course, and it should and you should be under

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Speaker 1: the tutelage of a professional to set it up. But

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Speaker 1: once it's set up, it's an intergenerational opportunity to gain

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Speaker 1: and strengthen your finances and have living benefits. It's just

431
00:23:57,000 --> 00:24:00,399
Speaker 1: a phenomenal approach to wealth building and to function and

432
00:24:01,280 --> 00:24:02,840
Speaker 1: building a personal economy.

433
00:24:03,400 --> 00:24:07,080
Speaker 2: That's what a personal or as a financial literacy expert,

434
00:24:07,240 --> 00:24:09,080
Speaker 2: what did you get your background to learn?

435
00:24:09,480 --> 00:24:11,639
Speaker 1: What courses did you take to get you to this

436
00:24:11,720 --> 00:24:12,320
Speaker 1: point that be.

437
00:24:12,320 --> 00:24:16,120
Speaker 2: So literate a literal or literle this level of expert

438
00:24:16,920 --> 00:24:18,640
Speaker 2: advice that you're able to give us.

439
00:24:18,920 --> 00:24:20,840
Speaker 1: I would say that the School of Hard Nots is

440
00:24:21,200 --> 00:24:26,760
Speaker 1: a big UH was my big my biggest university. But

441
00:24:26,880 --> 00:24:29,520
Speaker 1: going into the fields, my experience in real estate, I

442
00:24:29,600 --> 00:24:34,280
Speaker 1: learned a ton being in the UH, the insurance space,

443
00:24:34,320 --> 00:24:36,680
Speaker 1: I learned the son a lot of self study. I've

444
00:24:36,680 --> 00:24:40,919
Speaker 1: been a tutelage under one of Nelson's top mentors, so

445
00:24:41,040 --> 00:24:43,520
Speaker 1: a lot of great mentors and all that. You can't

446
00:24:43,600 --> 00:24:48,000
Speaker 1: underscore mentorship. You cannot underscore mentorship. And you know what's

447
00:24:48,240 --> 00:24:50,879
Speaker 1: a lot that's not taught is that the game is

448
00:24:50,920 --> 00:24:53,879
Speaker 1: sold not told. There's a lot of great information you

449
00:24:53,880 --> 00:24:56,159
Speaker 1: can get from YouTube, but when you really want to

450
00:24:56,160 --> 00:24:58,119
Speaker 1: take it to the next level. You gotta be willing

451
00:24:58,160 --> 00:25:00,159
Speaker 1: to pay. And that's what I've done. I paid for

452
00:25:00,200 --> 00:25:02,639
Speaker 1: a lot of coaching and mentorship and it's brought me

453
00:25:02,680 --> 00:25:06,600
Speaker 1: to the next level. I've heard this terminal a lot.

454
00:25:07,000 --> 00:25:09,440
Speaker 1: Can you break free from debt through?

455
00:25:09,480 --> 00:25:13,720
Speaker 2: The game is situated where you've got to stay in debt?

456
00:25:14,240 --> 00:25:17,040
Speaker 1: Correct, brother Muhammad. So when people call I use the

457
00:25:17,200 --> 00:25:25,639
Speaker 1: term debt free, that's not real. Correct? You know that

458
00:25:25,680 --> 00:25:29,479
Speaker 1: that freedom is real, It is attainable, and it is

459
00:25:30,200 --> 00:25:32,880
Speaker 1: it's a beautiful space to be in. I mean, now

460
00:25:33,280 --> 00:25:36,800
Speaker 1: you older, you tell me right, and now you don't

461
00:25:36,840 --> 00:25:39,359
Speaker 1: have a credit card, bit that, don't have a credit card,

462
00:25:40,200 --> 00:25:42,919
Speaker 1: don't have a car note, don't have a house note.

463
00:25:44,040 --> 00:25:47,879
Speaker 1: Uh yeah, it's it's it's a beautiful space. But now

464
00:25:48,040 --> 00:25:50,440
Speaker 1: now it comes with a price. It comes with a

465
00:25:50,480 --> 00:25:52,800
Speaker 1: price for the average person. It may take two to

466
00:25:52,920 --> 00:25:55,359
Speaker 1: seven years to accomplish that. And I don't want to

467
00:25:55,400 --> 00:25:57,359
Speaker 1: paint a rosy picture. But all I can say is

468
00:25:57,440 --> 00:25:59,800
Speaker 1: it is sure worth it. It is show worth it.

469
00:26:00,040 --> 00:26:03,960
Speaker 1: Remember when we were on our journey, I asked my

470
00:26:04,000 --> 00:26:08,400
Speaker 1: wife how much was her student loans. She said fifty thousand,

471
00:26:09,240 --> 00:26:12,120
Speaker 1: and so we got into an argument. Fifty thousand. She said, yeah,

472
00:26:12,160 --> 00:26:13,640
Speaker 1: you told me to the first. I said, I didn't

473
00:26:13,640 --> 00:26:16,040
Speaker 1: tell you to the first. We going back and forth,

474
00:26:16,040 --> 00:26:19,200
Speaker 1: you know what I'm saying. So once cooler hands prevailed,

475
00:26:19,720 --> 00:26:21,399
Speaker 1: I said, all right, all right, we need to win it.

476
00:26:21,400 --> 00:26:25,280
Speaker 1: We don't do it together. I love it. I was like,

477
00:26:25,560 --> 00:26:28,600
Speaker 1: you've never heard that. Yeah, no, no, At that time,

478
00:26:28,680 --> 00:26:31,679
Speaker 1: that was huge for us. That was huge. And so

479
00:26:31,920 --> 00:26:34,679
Speaker 1: it's like sometimes because I'm married too, and sometimes my

480
00:26:34,720 --> 00:26:36,880
Speaker 1: wife will say something, I go and she goes, I've

481
00:26:36,920 --> 00:26:40,840
Speaker 1: told you that, right, right right, But here here's the

482
00:26:40,920 --> 00:26:44,400
Speaker 1: Kings party shine. After cooler Hands prevailed, we said, okay,

483
00:26:44,480 --> 00:26:47,840
Speaker 1: let's attack it. We pulled the credit report. The real

484
00:26:47,960 --> 00:26:51,560
Speaker 1: number was seventy two thousand. Almost fell out my shit.

485
00:26:52,119 --> 00:26:55,399
Speaker 1: I was like, oh my god. It took everything, But

486
00:26:55,520 --> 00:26:58,720
Speaker 1: you know, we stayed the course. We fought through it,

487
00:26:59,000 --> 00:27:02,880
Speaker 1: and today that's a major part that that binds us,

488
00:27:02,960 --> 00:27:07,199
Speaker 1: that journey. So, uh, yeah, it is attainable. It is

489
00:27:07,240 --> 00:27:10,120
Speaker 1: a process. You linked with the right community, we can

490
00:27:10,160 --> 00:27:12,080
Speaker 1: help you accomplish that. It's a it's a it's a

491
00:27:12,080 --> 00:27:13,760
Speaker 1: phenomenal reality. Yeah.

492
00:27:13,800 --> 00:27:17,800
Speaker 2: Because now with you, my brother, how do I create

493
00:27:17,840 --> 00:27:20,840
Speaker 2: that financial game plan with your brother Mohammad. You know

494
00:27:20,920 --> 00:27:23,639
Speaker 2: you're my person, You're my personal financial coach. Now you

495
00:27:23,840 --> 00:27:26,640
Speaker 2: are consulted with you it's free. So now I'm going

496
00:27:26,880 --> 00:27:29,720
Speaker 2: I like this brother, he got everything. He's saying all

497
00:27:29,760 --> 00:27:32,119
Speaker 2: the right things to me. How do you create that

498
00:27:32,240 --> 00:27:33,119
Speaker 2: game plan for me?

499
00:27:33,760 --> 00:27:35,960
Speaker 1: Well, we're gonna We're gonna start with a discovery call

500
00:27:36,359 --> 00:27:38,879
Speaker 1: and we're just gonna open up your financial situation and

501
00:27:38,960 --> 00:27:41,520
Speaker 1: let you see it for yourself. Everything. We're gonna look

502
00:27:41,560 --> 00:27:43,640
Speaker 1: at all the ins and out. And once we look

503
00:27:43,680 --> 00:27:45,240
Speaker 1: at all the ins and out, we're gonna give you

504
00:27:45,280 --> 00:27:48,119
Speaker 1: a game plan that starts from scratch that allows you

505
00:27:48,160 --> 00:27:51,479
Speaker 1: the one to get out of the situation you in

506
00:27:52,000 --> 00:27:55,960
Speaker 1: to begin to capitalize. The first phase of capitalization is

507
00:27:55,960 --> 00:27:59,200
Speaker 1: an emergency fund. The second phase is a homeowner down

508
00:27:59,200 --> 00:28:01,399
Speaker 1: payment unless you are we have it, and the third

509
00:28:01,400 --> 00:28:04,200
Speaker 1: phase is building up that opportunity fund and then show

510
00:28:04,200 --> 00:28:07,000
Speaker 1: you how to post the market correctly. So I'm giving

511
00:28:07,040 --> 00:28:11,360
Speaker 1: a over view, but trying to give me some insight

512
00:28:11,720 --> 00:28:14,040
Speaker 1: to how we put you on a plan and work

513
00:28:14,080 --> 00:28:17,320
Speaker 1: with you a lot of asks those questions and work

514
00:28:17,359 --> 00:28:18,240
Speaker 1: through that process.

515
00:28:19,280 --> 00:28:24,360
Speaker 2: The process is this, if I sit down with you,

516
00:28:24,400 --> 00:28:27,720
Speaker 2: do I need life insurance? Brother Muhammad. Do I need

517
00:28:27,800 --> 00:28:30,880
Speaker 2: life insurance? Does the everyday person need life insurance?

518
00:28:32,720 --> 00:28:36,240
Speaker 1: So personal finance is personal, so there needs to be

519
00:28:36,320 --> 00:28:41,520
Speaker 1: a personal assessment to answer that question. Generally speaking, yes,

520
00:28:41,960 --> 00:28:46,000
Speaker 1: there's some one off situations where you're single, no children,

521
00:28:46,400 --> 00:28:49,840
Speaker 1: nobody's depending on you. You may get away with a burial

522
00:28:49,880 --> 00:28:52,800
Speaker 1: policy you know you don't have any assets or whatever.

523
00:28:53,240 --> 00:28:56,320
Speaker 1: But generally speaking, we need to get into the business

524
00:28:56,320 --> 00:29:00,360
Speaker 1: of insurance to promote this intergenerational exchange of wealth so

525
00:29:00,400 --> 00:29:04,160
Speaker 1: that we can compete with our counterparts. So we strongly

526
00:29:04,280 --> 00:29:08,360
Speaker 1: encourage you to get that insurance policy in place. Absolutely.

527
00:29:08,560 --> 00:29:11,640
Speaker 2: I'll tell you something, This has been fun, fun and

528
00:29:11,840 --> 00:29:15,160
Speaker 2: educational for me. I love your personality, I love your

529
00:29:15,160 --> 00:29:18,000
Speaker 2: approach there. How do we in touch with you, Brother Mohammad.

530
00:29:18,240 --> 00:29:21,520
Speaker 1: There's a few ways you can go to wealth coachingstratusphere

531
00:29:21,640 --> 00:29:25,760
Speaker 1: dot com. You can email me at support at wealth

532
00:29:25,760 --> 00:29:30,520
Speaker 1: Coaching stratusphere dot com. I'm on Instagram at wealth Coaching

533
00:29:30,560 --> 00:29:34,040
Speaker 1: stratusphere and uh yeah, I just love to connect with you.

534
00:29:34,080 --> 00:29:36,080
Speaker 1: Send me an email, let me know what your questions are,

535
00:29:36,080 --> 00:29:38,360
Speaker 1: concerns though, and however wee can serve you. We'd be

536
00:29:38,400 --> 00:29:39,800
Speaker 1: happy to do so well.

537
00:29:39,840 --> 00:29:42,600
Speaker 2: He's up there doing big things down and Katie, Texas,

538
00:29:42,640 --> 00:29:45,960
Speaker 2: which is right outside of Houston, Texas, my hometown. He's

539
00:29:46,000 --> 00:29:50,320
Speaker 2: a personal finance coach, a wealth coaching stratosphere. He's brother

540
00:29:50,920 --> 00:29:54,400
Speaker 2: Majiahad Mohammed. Thank you for coming on Money Making Conversation

541
00:29:54,480 --> 00:29:55,760
Speaker 2: master Class, my friend.

542
00:29:55,680 --> 00:29:59,040
Speaker 1: Thank you, brother sign. We'll talk to yes, sir. Thank

543
00:29:59,080 --> 00:30:00,640
Speaker 1: you for listening to the episode.

544
00:30:00,840 --> 00:30:02,480
Speaker 2: No, I need for you to do me a favor

545
00:30:03,200 --> 00:30:06,720
Speaker 2: right now to follow or subscribe to Money Making Conversations.

546
00:30:06,920 --> 00:30:11,200
Speaker 2: It's free and you can find it on the iHeartRadio app, Spotify,

547
00:30:11,520 --> 00:30:15,440
Speaker 2: Apple Podcasts, or wherever you get your podcasts. Please do

548
00:30:15,480 --> 00:30:19,760
Speaker 2: me that favor, follow or subscribe Money Making Conversations.

549
00:30:20,040 --> 00:30:20,600
Speaker 1: Keep winning