1 00:00:00,080 --> 00:00:03,160 Speaker 1: Follow Cheeky's and Chill on Amazon Music. Just head to 2 00:00:03,200 --> 00:00:06,400 Speaker 1: Amazon dot com slash Cheeky's and check out even more 3 00:00:06,480 --> 00:00:10,320 Speaker 1: podcasts by Mike Utura throughout Hispanic Heritage month. Listen to 4 00:00:10,360 --> 00:00:13,320 Speaker 1: my latest episode of Cheekys and Chill on Amazon Music. 5 00:00:13,480 --> 00:00:17,200 Speaker 1: At Amazon dot com slash Cheeky's and listen to Cheeky's 6 00:00:17,200 --> 00:00:20,239 Speaker 1: and Chill on Amazon Music, or ask Alexa to play 7 00:00:20,320 --> 00:00:26,120 Speaker 1: Cheeky's and Chill on Amazon Music. What do you think 8 00:00:26,200 --> 00:00:28,880 Speaker 1: is like initially so confusing about the stock market. 9 00:00:29,960 --> 00:00:32,919 Speaker 2: I really truly believe that the amount of money that 10 00:00:33,000 --> 00:00:35,880 Speaker 2: we bring in and that we have is a reflection 11 00:00:36,400 --> 00:00:40,560 Speaker 2: of how much we value ourselves. There was this deep 12 00:00:40,920 --> 00:00:43,519 Speaker 2: desire for me to one day have a house that 13 00:00:43,600 --> 00:00:45,800 Speaker 2: looked like the ones my mom used to clean. 14 00:00:51,120 --> 00:00:51,400 Speaker 3: Hello. 15 00:00:51,440 --> 00:00:53,000 Speaker 4: Hello, Happy Monday everyone. 16 00:00:53,240 --> 00:00:55,920 Speaker 1: I hope you all had a really great September and 17 00:00:56,000 --> 00:00:57,200 Speaker 1: are ready for October. 18 00:00:57,480 --> 00:00:59,840 Speaker 4: Oh, my favorite season, you guys. I love it. I 19 00:01:00,120 --> 00:01:01,960 Speaker 4: love anything punkin and. 20 00:01:01,960 --> 00:01:05,280 Speaker 1: Just excited about the fall and feeling a little like, 21 00:01:05,880 --> 00:01:08,560 Speaker 1: I don't know, fall and winter are my favorite you guys. Anyways, 22 00:01:08,560 --> 00:01:11,600 Speaker 1: on today's episode, we're going to talk about the stock market. 23 00:01:12,160 --> 00:01:14,880 Speaker 1: I know this topic can be a little intimidating, which 24 00:01:14,880 --> 00:01:16,479 Speaker 1: is why I'm excited for all of you to meet 25 00:01:16,520 --> 00:01:19,759 Speaker 1: today's guest. She's really great at explaining the stock market 26 00:01:19,800 --> 00:01:22,480 Speaker 1: and teaching us about how we can use it to 27 00:01:22,560 --> 00:01:23,400 Speaker 1: build wealth. 28 00:01:23,680 --> 00:01:25,680 Speaker 4: So get ready, this is a good one. This is 29 00:01:25,760 --> 00:01:26,480 Speaker 4: cheeky's and chill. 30 00:01:28,600 --> 00:01:31,120 Speaker 1: So before we introduce today's guest, I just want to 31 00:01:31,160 --> 00:01:33,840 Speaker 1: give you guys a little disclaimer. This episode is meant 32 00:01:33,840 --> 00:01:36,600 Speaker 1: to be helpful and informative, but it's not meant to 33 00:01:36,640 --> 00:01:40,600 Speaker 1: be taken as professional financial advice. Okay, So now that 34 00:01:40,600 --> 00:01:43,880 Speaker 1: that's out of the way, today's special guest is Linda Garcia. 35 00:01:44,240 --> 00:01:47,680 Speaker 1: She's a brilliant financial educator who works to empower communities 36 00:01:47,760 --> 00:01:51,200 Speaker 1: of color. She's also the host of the podcast Investees 37 00:01:51,280 --> 00:01:54,520 Speaker 1: and the author of the book Wealth Warrior, Eight Steps 38 00:01:54,520 --> 00:01:58,240 Speaker 1: for Communities of Color to Conquer the Stock Market. Linda, 39 00:01:58,520 --> 00:02:01,800 Speaker 1: welcome it is it's so nice to finally meet you. 40 00:02:01,880 --> 00:02:03,600 Speaker 1: I've heard so many great things about you. We have 41 00:02:03,680 --> 00:02:05,600 Speaker 1: mutual friends actually too. 42 00:02:06,320 --> 00:02:08,920 Speaker 2: Thank you for having me and opening up your space 43 00:02:09,040 --> 00:02:10,160 Speaker 2: to this conversation. 44 00:02:11,000 --> 00:02:12,320 Speaker 4: No, of course, I'm excited. 45 00:02:12,400 --> 00:02:14,360 Speaker 1: I think this is something that we definitely need to 46 00:02:14,360 --> 00:02:17,840 Speaker 1: talk about more in our communities. Especially as Latina as 47 00:02:18,000 --> 00:02:20,399 Speaker 1: we at least for me, well, my mom was kind 48 00:02:20,400 --> 00:02:22,720 Speaker 1: of good with showing me how to save money and 49 00:02:22,720 --> 00:02:23,200 Speaker 1: stuff like that. 50 00:02:23,240 --> 00:02:25,200 Speaker 4: I just didn't listen. Now I'm better because I learned 51 00:02:25,200 --> 00:02:25,600 Speaker 4: the hard way. 52 00:02:25,639 --> 00:02:27,239 Speaker 1: But anyways, I did want to ask you a little 53 00:02:27,280 --> 00:02:30,280 Speaker 1: bit more about you about your background, because I think 54 00:02:30,320 --> 00:02:31,960 Speaker 1: it's really interesting. A lot of people are like, oh, 55 00:02:32,000 --> 00:02:35,160 Speaker 1: my god, she's successful, and they don't really see the 56 00:02:35,200 --> 00:02:37,799 Speaker 1: struggle behind that. They think, oh, her life must have 57 00:02:37,880 --> 00:02:40,760 Speaker 1: been so easy, and that wasn't necessarily the case for you. 58 00:02:40,760 --> 00:02:42,960 Speaker 1: You know, you were a mother at fourteen years old, 59 00:02:43,040 --> 00:02:43,600 Speaker 1: is that correct? 60 00:02:44,360 --> 00:02:47,960 Speaker 2: Yeah, at fourteen years old, I became a mother. I 61 00:02:48,120 --> 00:02:50,799 Speaker 2: was also in gangs. 62 00:02:51,040 --> 00:02:51,920 Speaker 3: I was just. 63 00:02:52,120 --> 00:02:56,239 Speaker 2: Living a life that was very challenging. Did I stopped 64 00:02:56,240 --> 00:02:59,120 Speaker 2: living with my parents at twelve years old, and it 65 00:02:59,200 --> 00:03:03,440 Speaker 2: was just extreme difficult. Like I truly became the definition 66 00:03:03,480 --> 00:03:05,560 Speaker 2: of a statistic. I feel like that was much more 67 00:03:05,560 --> 00:03:09,239 Speaker 2: common back in the nineties, like, oh, she's a statistic, 68 00:03:09,400 --> 00:03:12,600 Speaker 2: and you kind of get discarded in your family and 69 00:03:13,040 --> 00:03:15,480 Speaker 2: extended family and even in society. 70 00:03:15,639 --> 00:03:16,320 Speaker 3: So that was. 71 00:03:16,440 --> 00:03:19,480 Speaker 2: Extremely difficult for me to go through as just a 72 00:03:19,600 --> 00:03:23,160 Speaker 2: human being, as a child, and to think that I 73 00:03:23,280 --> 00:03:26,200 Speaker 2: was no longer going to amount to anything because I, 74 00:03:26,800 --> 00:03:31,520 Speaker 2: you know, had a child. Was disheartening, and so I 75 00:03:31,560 --> 00:03:36,040 Speaker 2: lived a pretty rough experience. I had positive influences in 76 00:03:36,080 --> 00:03:39,080 Speaker 2: my life, which became my teachers who really nurtured me 77 00:03:39,240 --> 00:03:41,600 Speaker 2: in high school. I even lived with one of my 78 00:03:41,640 --> 00:03:43,560 Speaker 2: teachers at one point in time. 79 00:03:44,320 --> 00:03:45,640 Speaker 3: And it's really. 80 00:03:45,360 --> 00:03:49,440 Speaker 2: Because of them that I attribute the woman that I've 81 00:03:49,440 --> 00:03:52,480 Speaker 2: become today, completely because of my teachers. 82 00:03:53,120 --> 00:03:57,400 Speaker 1: Yeah, that's awesome because your parents were also immigrants, right, Yes, 83 00:03:57,800 --> 00:04:01,000 Speaker 1: so you have literally you've worked your way and you've 84 00:04:01,040 --> 00:04:02,440 Speaker 1: worked very hard to get to this point. 85 00:04:02,760 --> 00:04:06,040 Speaker 2: Yes, and I feel like it's still a lot of work. 86 00:04:06,120 --> 00:04:09,480 Speaker 2: I mean even today just I really love economics and 87 00:04:09,520 --> 00:04:12,720 Speaker 2: I love learning about what is taking place and the 88 00:04:12,800 --> 00:04:16,280 Speaker 2: economy just to understand and process how we can navigate 89 00:04:16,320 --> 00:04:20,520 Speaker 2: the future in a much more strategic way. And even 90 00:04:20,640 --> 00:04:24,200 Speaker 2: just like today listening to the economy because we just 91 00:04:24,240 --> 00:04:27,159 Speaker 2: got notified that there will be a pause on rate hikes. 92 00:04:27,160 --> 00:04:30,719 Speaker 2: We're trying to tackle inflation for the country, and I'm 93 00:04:30,760 --> 00:04:34,039 Speaker 2: like listening to these people speak and I'm really trying 94 00:04:34,080 --> 00:04:37,680 Speaker 2: to keep up, and I'm like, wow, they're so far ahead, 95 00:04:37,760 --> 00:04:40,599 Speaker 2: and a lot of them, look my age, and will 96 00:04:40,640 --> 00:04:42,080 Speaker 2: I ever be that intelligent? 97 00:04:42,200 --> 00:04:44,000 Speaker 3: Like, there's still so much work. 98 00:04:43,880 --> 00:04:46,040 Speaker 2: That goes into what I do on a day to 99 00:04:46,120 --> 00:04:48,760 Speaker 2: day basis. But I have to remind myself that I'm 100 00:04:48,800 --> 00:04:51,960 Speaker 2: on my own journey and that I'm not less intelligent. 101 00:04:52,160 --> 00:04:55,120 Speaker 2: I'm just learning at this point in time, and there's 102 00:04:55,160 --> 00:04:56,719 Speaker 2: still a lot of room ahead. 103 00:04:57,760 --> 00:04:59,760 Speaker 1: The thing that I tell people all the time is 104 00:04:59,760 --> 00:05:02,360 Speaker 1: not to to compare yourself to other people and their 105 00:05:02,360 --> 00:05:04,479 Speaker 1: growth and their progress. You know, to focus, and sometimes 106 00:05:04,520 --> 00:05:06,360 Speaker 1: it's a little hard. It's hard not to, but that 107 00:05:06,480 --> 00:05:08,640 Speaker 1: you have to remind yourself like, it's okay, We're still 108 00:05:08,720 --> 00:05:09,880 Speaker 1: learning day by day. 109 00:05:10,400 --> 00:05:11,160 Speaker 4: The good thing is. 110 00:05:11,120 --> 00:05:14,520 Speaker 1: That there's that desire. We're striving to want to be 111 00:05:14,520 --> 00:05:17,880 Speaker 1: better in every way. When did this love for the 112 00:05:17,920 --> 00:05:21,640 Speaker 1: stock market or learning about generational wealth even all of this, 113 00:05:21,680 --> 00:05:23,080 Speaker 1: Where did it come from? 114 00:05:23,520 --> 00:05:27,200 Speaker 2: Yeah? I grew up watching my mom clean houses. She 115 00:05:27,279 --> 00:05:30,760 Speaker 2: cleaned houses mainly in Laguna Beach, and so I had 116 00:05:30,839 --> 00:05:34,440 Speaker 2: so much exposure to a lot of money via going 117 00:05:34,480 --> 00:05:37,880 Speaker 2: with her to going to clean houses. There was this 118 00:05:38,080 --> 00:05:41,200 Speaker 2: deep desire for me to one day have a house 119 00:05:41,240 --> 00:05:43,640 Speaker 2: that looked like the ones my mom used to clean, 120 00:05:44,200 --> 00:05:47,960 Speaker 2: or have celebrations and Christmas dinners or Thanksgivings and the 121 00:05:48,000 --> 00:05:50,920 Speaker 2: way that they celebrated, like I just watched them with 122 00:05:50,960 --> 00:05:54,800 Speaker 2: my mom working, and I wanted that for myself. It 123 00:05:54,920 --> 00:05:58,520 Speaker 2: wasn't until after I had my daughter that I really 124 00:05:59,040 --> 00:06:03,200 Speaker 2: had strong ambition. There's something to be said about being 125 00:06:03,240 --> 00:06:06,720 Speaker 2: a mother. It's almost like it unleashes like a lioness. 126 00:06:06,800 --> 00:06:09,719 Speaker 2: And even though I was young, it unleashed that for me, 127 00:06:09,800 --> 00:06:13,520 Speaker 2: and so I had again that deep seated ambition to 128 00:06:13,600 --> 00:06:16,919 Speaker 2: become something and do something for my daughter and myself 129 00:06:16,960 --> 00:06:19,560 Speaker 2: and not repeat some of the same stories of the 130 00:06:19,600 --> 00:06:24,440 Speaker 2: way I grew up. And so I began to study 131 00:06:24,600 --> 00:06:27,840 Speaker 2: wealth overall, like I started to look at patterns and 132 00:06:28,040 --> 00:06:31,080 Speaker 2: just research like how did this person get rich? And 133 00:06:31,240 --> 00:06:34,159 Speaker 2: mostly everyone I was researching was, of course the way 134 00:06:34,200 --> 00:06:37,560 Speaker 2: we say old, pale and stale, and so it was 135 00:06:37,680 --> 00:06:41,240 Speaker 2: just like, you know, all these older white men, and 136 00:06:42,200 --> 00:06:45,160 Speaker 2: I started to see a pattern, which was every time 137 00:06:45,200 --> 00:06:49,080 Speaker 2: there was economic hardship like a recession, that was when 138 00:06:49,120 --> 00:06:54,280 Speaker 2: their wealth would multiply a crazy amount. And so I 139 00:06:54,320 --> 00:06:58,120 Speaker 2: started to really focus on that, on those types of patterns. 140 00:06:58,400 --> 00:07:02,080 Speaker 2: And then I began to work at Netflix, and I 141 00:07:02,200 --> 00:07:05,279 Speaker 2: had a white colleague that began educating me on the 142 00:07:05,320 --> 00:07:08,760 Speaker 2: stock market, and I started to understand that there was 143 00:07:08,800 --> 00:07:14,280 Speaker 2: an opportunity there for me to begin investing and growing 144 00:07:14,320 --> 00:07:16,960 Speaker 2: my money in that way. And so I started to 145 00:07:17,040 --> 00:07:19,480 Speaker 2: do that, and I opened up about my investing. One 146 00:07:19,480 --> 00:07:22,280 Speaker 2: of my good friends, Patti Rodriguez, we were just at 147 00:07:22,320 --> 00:07:25,360 Speaker 2: the start of our careers back in twenty twelve, and 148 00:07:25,440 --> 00:07:27,920 Speaker 2: we would talk about the stock market. We had another 149 00:07:27,960 --> 00:07:30,400 Speaker 2: friend named Brisia as well, and the three of us 150 00:07:30,480 --> 00:07:33,600 Speaker 2: would just strategize. Then I just became a student of 151 00:07:33,640 --> 00:07:36,920 Speaker 2: the market. I ended up investing a total of nine 152 00:07:36,920 --> 00:07:40,040 Speaker 2: thousand dollars. Those nine thousand dollars turned into half. 153 00:07:39,920 --> 00:07:40,960 Speaker 3: A million dollars. 154 00:07:41,520 --> 00:07:44,360 Speaker 2: The amount that I was investing was an amount that 155 00:07:44,400 --> 00:07:46,960 Speaker 2: I could process. It was two hundred dollars a month. 156 00:07:47,320 --> 00:07:52,000 Speaker 2: And so I was shocked that we never use the 157 00:07:52,040 --> 00:07:54,560 Speaker 2: stock market as a vehicle to grow wealth. We think 158 00:07:54,600 --> 00:07:59,320 Speaker 2: of real estate, we think of entrepreneurship, but we rarely 159 00:07:59,440 --> 00:08:02,680 Speaker 2: think of about the stock market. And so I started 160 00:08:02,680 --> 00:08:04,640 Speaker 2: to do more and more research, and I began to 161 00:08:04,760 --> 00:08:11,080 Speaker 2: understand that only fifteen percent of Americans actually hold direct stock. 162 00:08:11,200 --> 00:08:13,640 Speaker 4: Only fifteen per Wow, that's crazy. 163 00:08:13,840 --> 00:08:17,560 Speaker 2: And out of those fifteen percent, it's the top ten 164 00:08:17,640 --> 00:08:21,680 Speaker 2: percent most wealthiest people in the country, so a lot 165 00:08:21,720 --> 00:08:24,480 Speaker 2: of people don't have access to stock. 166 00:08:24,520 --> 00:08:25,360 Speaker 3: It's intimidating. 167 00:08:25,400 --> 00:08:27,840 Speaker 2: Even when you open the conversation, you're like, it gives 168 00:08:27,920 --> 00:08:31,400 Speaker 2: me anxiety, you know, yeah, and that's normal. 169 00:08:32,080 --> 00:08:35,080 Speaker 1: Okay, So I think you and I need to have 170 00:08:35,120 --> 00:08:37,800 Speaker 1: like an even longer conversation just so we could sit down. 171 00:08:37,840 --> 00:08:39,400 Speaker 1: And I really I think I'm gonna need your help 172 00:08:39,440 --> 00:08:43,400 Speaker 1: in my life because you're right. I think, Okay, we 173 00:08:43,480 --> 00:08:45,880 Speaker 1: grow up in gon Bratucasa. You need to buy your 174 00:08:45,880 --> 00:08:48,600 Speaker 1: house and that's where and yes, yes, that's I think 175 00:08:48,640 --> 00:08:51,760 Speaker 1: that that's great. But I've been intimidated is the word 176 00:08:51,960 --> 00:08:54,480 Speaker 1: to invest and put my money in the stock market, 177 00:08:54,880 --> 00:08:58,080 Speaker 1: and thank goodness for you. Now I'm like okay, and 178 00:08:58,120 --> 00:09:00,400 Speaker 1: I'm hoping our listeners as well are kind of like okay. 179 00:09:00,440 --> 00:09:02,680 Speaker 1: Even if it doesn't have to be a large, large amount, 180 00:09:02,720 --> 00:09:04,160 Speaker 1: it could be. Like you said, you started with nine 181 00:09:04,200 --> 00:09:06,320 Speaker 1: thousand dollars, which is still a lot for a lot 182 00:09:06,360 --> 00:09:09,360 Speaker 1: of people, but still can you start with one thousand dollars? 183 00:09:10,120 --> 00:09:12,760 Speaker 2: Yes, And so I want to be very clear as well, 184 00:09:12,840 --> 00:09:14,839 Speaker 2: it was two hundred dollars a month. 185 00:09:14,760 --> 00:09:17,040 Speaker 4: How I started, So Okay, yes. 186 00:09:16,920 --> 00:09:19,959 Speaker 2: The nine thousand was over the span of three years, 187 00:09:20,320 --> 00:09:24,000 Speaker 2: but I was just investing little chunks every single month 188 00:09:24,120 --> 00:09:27,480 Speaker 2: and being consistent. I think the biggest message I want 189 00:09:27,520 --> 00:09:29,720 Speaker 2: to convey, and I think to bring you a little 190 00:09:29,760 --> 00:09:32,560 Speaker 2: bit at ease Cheeky's, is like, it's really easy for 191 00:09:32,720 --> 00:09:36,000 Speaker 2: us to walk into an Apple store and purchase a phone, 192 00:09:36,280 --> 00:09:39,920 Speaker 2: purchase a computer, air pods, whatever the case may be. 193 00:09:40,080 --> 00:09:44,200 Speaker 2: We are not afraid to walk into Apple and purchase products. 194 00:09:44,200 --> 00:09:47,360 Speaker 2: For the most part, right we understand that we can 195 00:09:47,880 --> 00:09:51,000 Speaker 2: use those products as an investment and start a business 196 00:09:51,400 --> 00:09:54,520 Speaker 2: off of our phone. We understand the value of it. 197 00:09:54,640 --> 00:09:57,520 Speaker 2: And so the way I want folks to start looking 198 00:09:57,600 --> 00:10:00,440 Speaker 2: at the stock market is in the same way. I 199 00:10:00,520 --> 00:10:03,679 Speaker 2: want you to not just be a consumer of the products, 200 00:10:03,960 --> 00:10:06,719 Speaker 2: because we are some of the biggest consumers in our 201 00:10:06,760 --> 00:10:10,040 Speaker 2: community in the United States. I want you to start 202 00:10:10,040 --> 00:10:13,040 Speaker 2: to look at the opportunity of being a shareholder and 203 00:10:13,160 --> 00:10:16,679 Speaker 2: owning a piece of Apple as well as purchasing the 204 00:10:16,760 --> 00:10:21,040 Speaker 2: product and then getting the benefit of the stock increasing 205 00:10:21,080 --> 00:10:25,200 Speaker 2: in value and then your investment increasing in value. It's 206 00:10:25,240 --> 00:10:28,760 Speaker 2: easy for us to think about purchasing a home because 207 00:10:29,200 --> 00:10:32,960 Speaker 2: our ancestors, our family members, our community members have all 208 00:10:33,040 --> 00:10:36,400 Speaker 2: broken the barriers of doing that. It's a common experience 209 00:10:36,440 --> 00:10:39,040 Speaker 2: for us to purchase a home, but it's also still 210 00:10:39,320 --> 00:10:43,280 Speaker 2: very challenging for folks to save twenty percent. Real estate 211 00:10:43,400 --> 00:10:47,120 Speaker 2: is very expensive in places like California and New York, 212 00:10:47,480 --> 00:10:50,440 Speaker 2: and you have to have a stable job for two 213 00:10:50,520 --> 00:10:54,679 Speaker 2: years and have credit. There's all of these barrier to entry. 214 00:10:54,760 --> 00:10:57,840 Speaker 2: In order to get started with the stock market, all 215 00:10:57,880 --> 00:11:00,120 Speaker 2: you need is your Social Security. 216 00:10:59,640 --> 00:11:02,480 Speaker 3: Number, you open an account, and then. 217 00:11:02,320 --> 00:11:06,160 Speaker 2: You can start building your portfolio and start building assets. 218 00:11:06,440 --> 00:11:08,080 Speaker 3: It's really that simple. 219 00:11:08,480 --> 00:11:12,280 Speaker 2: Owning a house requires more effort on your part than 220 00:11:12,640 --> 00:11:13,360 Speaker 2: purchasing a. 221 00:11:13,360 --> 00:11:17,120 Speaker 1: Stock Okay, so the first step for sure is open 222 00:11:17,160 --> 00:11:17,760 Speaker 1: an account. 223 00:11:18,400 --> 00:11:21,760 Speaker 2: Yeah, so that's the first step in action, and I 224 00:11:21,840 --> 00:11:23,160 Speaker 2: go through that in my book. 225 00:11:23,360 --> 00:11:24,800 Speaker 3: I lay it out really easily. 226 00:11:24,840 --> 00:11:27,319 Speaker 2: I even go through the steps of how to open 227 00:11:27,320 --> 00:11:29,760 Speaker 2: the account, how to fill out the form. I just 228 00:11:29,920 --> 00:11:32,120 Speaker 2: lay it out so that you can do it like 229 00:11:32,160 --> 00:11:35,280 Speaker 2: you can execute it. At the core of all of 230 00:11:35,320 --> 00:11:38,160 Speaker 2: this work, so the very first step before you open 231 00:11:38,200 --> 00:11:40,280 Speaker 2: the account, I want you to be aware of the 232 00:11:40,360 --> 00:11:43,120 Speaker 2: emotional work that you're going to do as you move 233 00:11:43,200 --> 00:11:46,760 Speaker 2: through the process. Because we can take in all of 234 00:11:46,800 --> 00:11:50,240 Speaker 2: the financial literacy, whether it's to buy real estate or 235 00:11:50,280 --> 00:11:52,640 Speaker 2: to buy stocks, or how to invest or save for 236 00:11:52,679 --> 00:11:55,640 Speaker 2: a retirement. All we want, but if we're not focusing 237 00:11:55,800 --> 00:11:59,559 Speaker 2: on our mindset and our scarcity, then it's going to 238 00:11:59,600 --> 00:12:02,440 Speaker 2: be real, really difficult for us to really be able 239 00:12:02,480 --> 00:12:06,640 Speaker 2: to multiply our money in ways that we've never imagined. 240 00:12:06,760 --> 00:12:10,160 Speaker 2: If we fear losing money, if we're emotionally attached and 241 00:12:10,720 --> 00:12:14,440 Speaker 2: fear investing into ourselves or into anything else, that's going 242 00:12:14,520 --> 00:12:16,920 Speaker 2: to be our biggest roadblock. And for so many of 243 00:12:17,000 --> 00:12:21,040 Speaker 2: us child of immigrants, it's easy for us to get 244 00:12:21,080 --> 00:12:25,199 Speaker 2: caught up in scarcity or fears of their. 245 00:12:25,080 --> 00:12:26,720 Speaker 3: Not being enough outside of us. 246 00:12:26,760 --> 00:12:29,280 Speaker 2: So I always like to share that the first most 247 00:12:29,320 --> 00:12:33,559 Speaker 2: important step is going to be working on your money stories, 248 00:12:33,840 --> 00:12:37,080 Speaker 2: your money wounds, and that's what I go over in 249 00:12:37,120 --> 00:12:40,400 Speaker 2: the first chapter of the book. I find it really 250 00:12:40,440 --> 00:12:43,679 Speaker 2: important to cover that first, especially from where we come 251 00:12:43,720 --> 00:12:46,360 Speaker 2: from and not having these types of opportunities and being 252 00:12:46,400 --> 00:12:50,080 Speaker 2: intimidated from participating in the stock market, so all of 253 00:12:50,080 --> 00:12:51,600 Speaker 2: that is really important. 254 00:12:52,440 --> 00:12:56,280 Speaker 1: I absolutely love that because I'm a firm believer in 255 00:12:57,200 --> 00:13:00,199 Speaker 1: what you think, what you say, it's what you attract, 256 00:13:00,240 --> 00:13:02,439 Speaker 1: you know, so it's all literally mind, body and soul. 257 00:13:02,920 --> 00:13:04,720 Speaker 1: Where do we go to set up an account to 258 00:13:04,760 --> 00:13:08,000 Speaker 1: start trading? Is there like a minimum amount as well? 259 00:13:08,440 --> 00:13:09,160 Speaker 3: Great question. 260 00:13:09,400 --> 00:13:13,600 Speaker 2: So it's really important for me to convey that I 261 00:13:13,640 --> 00:13:18,400 Speaker 2: would like for folks to stay away from online platforms, 262 00:13:18,440 --> 00:13:21,040 Speaker 2: so to speak. When I say online platforms, I mean 263 00:13:21,120 --> 00:13:25,240 Speaker 2: like Robinhood type platforms. I've been saying this for a 264 00:13:25,280 --> 00:13:29,840 Speaker 2: really long time for years now. They really target people 265 00:13:29,880 --> 00:13:32,440 Speaker 2: of color. There's a lot of things that have gone 266 00:13:32,480 --> 00:13:36,840 Speaker 2: wrong with that company in terms of giving people accounts 267 00:13:36,920 --> 00:13:39,760 Speaker 2: that were not the right accounts for the person. They've 268 00:13:39,760 --> 00:13:42,959 Speaker 2: been known to overcharge on the price of a stock 269 00:13:43,400 --> 00:13:46,120 Speaker 2: more than what the stock is actually valued for at 270 00:13:46,120 --> 00:13:48,160 Speaker 2: the time, and we may not notice because it's a 271 00:13:48,160 --> 00:13:51,319 Speaker 2: few cents, but all of those things matter. And here's 272 00:13:51,360 --> 00:13:54,679 Speaker 2: the other thing. When you start investing, you want to 273 00:13:54,840 --> 00:13:58,800 Speaker 2: go to a company that is established and that has 274 00:13:59,080 --> 00:14:04,440 Speaker 2: the backing, especially during challenging economic times. You don't want 275 00:14:04,480 --> 00:14:06,800 Speaker 2: to go to a new company that was just established. 276 00:14:06,840 --> 00:14:08,800 Speaker 2: You want to go with the old money. That's the 277 00:14:08,840 --> 00:14:12,040 Speaker 2: way we're going to be the safest. There's two brokerage 278 00:14:12,080 --> 00:14:14,920 Speaker 2: accounts out there. One of them is really great just 279 00:14:14,960 --> 00:14:18,839 Speaker 2: because they have fractional shares. So let me explain really 280 00:14:18,920 --> 00:14:21,800 Speaker 2: quickly what a fractional share is. Let's say you want 281 00:14:21,800 --> 00:14:25,360 Speaker 2: an Apple share and the Apple share costs one hundred dollars, 282 00:14:25,640 --> 00:14:28,760 Speaker 2: and you right now don't have the budget to buy 283 00:14:28,800 --> 00:14:31,800 Speaker 2: the share for one hundred dollars. With a fractional share, 284 00:14:31,960 --> 00:14:36,840 Speaker 2: you can just invest five dollars, ten dollars, fifty dollars, 285 00:14:36,960 --> 00:14:40,520 Speaker 2: seventy five dollars, one dollar if you wanted to buy 286 00:14:40,600 --> 00:14:43,920 Speaker 2: a piece of a share, so you don't need a 287 00:14:44,040 --> 00:14:47,800 Speaker 2: minimal amount. You can start with whatever you have. And 288 00:14:47,880 --> 00:14:50,960 Speaker 2: the way I like for our community to start is 289 00:14:51,000 --> 00:14:53,760 Speaker 2: the way I say it is, start with what you're 290 00:14:53,800 --> 00:14:57,800 Speaker 2: okay with losing, just because I want you to emotionally 291 00:14:57,960 --> 00:15:01,840 Speaker 2: unattach yourself from money and not be like, oh my gosh, 292 00:15:01,840 --> 00:15:04,280 Speaker 2: my money if the stock market comes down a little, 293 00:15:04,320 --> 00:15:06,680 Speaker 2: which it will and sometimes it'll come down a lot. 294 00:15:06,800 --> 00:15:10,000 Speaker 2: I don't want you to have anxiety or overwhelm over 295 00:15:10,080 --> 00:15:12,360 Speaker 2: what the money is doing. I want you to learn 296 00:15:12,440 --> 00:15:16,000 Speaker 2: to emotionally break away from the money and just invest 297 00:15:16,040 --> 00:15:18,520 Speaker 2: it and watch what it feels like to let go 298 00:15:18,600 --> 00:15:21,360 Speaker 2: of money and have money work for you. It can 299 00:15:21,400 --> 00:15:25,320 Speaker 2: feel painful in the short amount of time because it's volatile. 300 00:15:25,680 --> 00:15:28,600 Speaker 2: But in years from now, you're gonna be grateful that 301 00:15:28,680 --> 00:15:31,080 Speaker 2: you begin to do that type of work of letting 302 00:15:31,120 --> 00:15:33,840 Speaker 2: go of money and begin investing it, and you're gonna 303 00:15:33,840 --> 00:15:36,680 Speaker 2: be able to see the return on your investment. So 304 00:15:36,760 --> 00:15:40,680 Speaker 2: there's no minimum to start. Fractional shares can be found 305 00:15:40,920 --> 00:15:42,920 Speaker 2: in a company like Fidelity. 306 00:15:43,720 --> 00:15:45,640 Speaker 3: There's also e Trade. 307 00:15:46,160 --> 00:15:49,680 Speaker 2: There's several big companies I list them in the book 308 00:15:49,720 --> 00:15:52,440 Speaker 2: as well that you can open your brokerage account with. 309 00:16:00,680 --> 00:16:02,160 Speaker 1: So you guys, so you have to read the book, Okay, 310 00:16:02,160 --> 00:16:03,680 Speaker 1: but still we're gonna get as much as we can 311 00:16:03,720 --> 00:16:06,160 Speaker 1: from Linda today. But you even say that that got 312 00:16:06,520 --> 00:16:10,480 Speaker 1: recipients can also enter the stock market as well, so 313 00:16:10,560 --> 00:16:11,280 Speaker 1: that's great to know. 314 00:16:12,440 --> 00:16:12,840 Speaker 4: Yeah. 315 00:16:12,920 --> 00:16:16,480 Speaker 2: So all you need is either an iti in number 316 00:16:16,640 --> 00:16:19,840 Speaker 2: or a Social Security number. So if you're a DOCA recipient, 317 00:16:20,080 --> 00:16:23,800 Speaker 2: you can start building your assets and start building your portfolio. 318 00:16:24,320 --> 00:16:27,240 Speaker 2: You can use your portfolio as leverage for when you 319 00:16:27,320 --> 00:16:30,000 Speaker 2: do want to buy a house. It counts as part 320 00:16:30,000 --> 00:16:33,080 Speaker 2: of your net worth. It's important for me to also 321 00:16:33,160 --> 00:16:36,120 Speaker 2: convey that you can get started from the day that 322 00:16:36,240 --> 00:16:39,040 Speaker 2: you are born, the day that you're given an iti 323 00:16:39,120 --> 00:16:41,000 Speaker 2: in number, or the day that you're given a Social 324 00:16:41,000 --> 00:16:44,280 Speaker 2: Security number, you can start building your assets and have 325 00:16:44,600 --> 00:16:47,680 Speaker 2: a portfolio. So for any parents out there that have 326 00:16:47,800 --> 00:16:52,000 Speaker 2: younger children or nieces and nephews, you can start a 327 00:16:52,040 --> 00:16:55,760 Speaker 2: custodial account and that is an account that you manage 328 00:16:55,840 --> 00:16:58,360 Speaker 2: for a child in your life. When they turn eighteen, 329 00:16:58,720 --> 00:17:01,560 Speaker 2: that portfolio, it comes their portfolio. 330 00:17:02,320 --> 00:17:06,239 Speaker 1: So how do you determine which stocks you should buy into? Like, 331 00:17:06,280 --> 00:17:08,480 Speaker 1: are there any tips anything that you recommend? 332 00:17:09,200 --> 00:17:09,840 Speaker 3: Absolutely? 333 00:17:10,320 --> 00:17:12,240 Speaker 2: So the way I want you all to look at 334 00:17:12,240 --> 00:17:15,480 Speaker 2: this is I want you to think of the companies 335 00:17:15,480 --> 00:17:18,960 Speaker 2: that are mostly used a lot of the times folks think, 336 00:17:19,200 --> 00:17:21,399 Speaker 2: oh the stock market, I need to find a needle 337 00:17:21,400 --> 00:17:23,440 Speaker 2: in a haystack, or what's going to be the next 338 00:17:23,440 --> 00:17:25,880 Speaker 2: big thing. I don't want you to think that way. 339 00:17:26,359 --> 00:17:28,720 Speaker 2: I want you to think about the companies that we 340 00:17:28,840 --> 00:17:32,360 Speaker 2: are all dependent on. What phone do you use, what 341 00:17:32,400 --> 00:17:35,560 Speaker 2: computer do you use? What are you turning on when 342 00:17:35,640 --> 00:17:39,160 Speaker 2: you're watching television? Like I literally want you to think 343 00:17:39,200 --> 00:17:41,960 Speaker 2: of what you're most dependent on in your day to 344 00:17:42,080 --> 00:17:45,720 Speaker 2: day and then once you look at what you're dependent on, 345 00:17:46,640 --> 00:17:49,359 Speaker 2: I want you to start to see what everyone else 346 00:17:49,440 --> 00:17:53,000 Speaker 2: is dependent on as well. So it's the products that 347 00:17:53,160 --> 00:17:56,040 Speaker 2: everyone is using, like are you shopping at Target or 348 00:17:56,080 --> 00:17:58,480 Speaker 2: are you shopping at Walmart. I just want you to 349 00:17:58,520 --> 00:18:02,479 Speaker 2: look at the companies that you solely depend on and 350 00:18:02,520 --> 00:18:05,159 Speaker 2: that everyone else does as well. I don't want you 351 00:18:05,240 --> 00:18:08,679 Speaker 2: to try and find the next big thing that becomes 352 00:18:08,720 --> 00:18:12,560 Speaker 2: a little bit more challenging and riskier. You want to 353 00:18:12,600 --> 00:18:16,199 Speaker 2: invest into companies that you use, that you consume, and 354 00:18:16,240 --> 00:18:18,720 Speaker 2: then I want you to look at it like building 355 00:18:18,800 --> 00:18:22,440 Speaker 2: a pantry. So think of your pantry, and I don't 356 00:18:22,640 --> 00:18:24,879 Speaker 2: recommend that you try to invest in a ton of 357 00:18:24,920 --> 00:18:28,240 Speaker 2: different companies. I want you to stay focused and look 358 00:18:28,280 --> 00:18:33,080 Speaker 2: at it as like geksa. So let's think of something 359 00:18:33,200 --> 00:18:36,800 Speaker 2: very simple, like one company look at it as like aros. 360 00:18:37,320 --> 00:18:41,160 Speaker 2: Another company look at it as fri holos. Another company 361 00:18:41,200 --> 00:18:48,000 Speaker 2: look at it as tortillas, and every month comps una tortilla, 362 00:18:48,200 --> 00:18:51,120 Speaker 2: month after month after month, and then eventually you're going 363 00:18:51,160 --> 00:18:56,520 Speaker 2: to have una, Oh yeahros dortias, you know, to serve 364 00:18:56,720 --> 00:18:59,560 Speaker 2: not just for you, but for your entire families. So 365 00:18:59,640 --> 00:19:01,880 Speaker 2: that's kind of the way I want folks to look 366 00:19:01,920 --> 00:19:05,119 Speaker 2: at it. It's companies that we consume and that we 367 00:19:05,160 --> 00:19:07,080 Speaker 2: know we can't live without That. 368 00:19:07,119 --> 00:19:09,119 Speaker 1: Is perfect because I love food and I'm a very 369 00:19:09,200 --> 00:19:11,639 Speaker 1: visual person. So now I could be like get and 370 00:19:11,640 --> 00:19:13,320 Speaker 1: I'm gonna turn that into a freaking feast. 371 00:19:13,560 --> 00:19:15,880 Speaker 4: Yes, that's like an awesome way of. 372 00:19:15,880 --> 00:19:21,760 Speaker 1: Like okay, cool, you got meh Okay, that's awesome. 373 00:19:21,920 --> 00:19:22,200 Speaker 4: Okay. 374 00:19:22,480 --> 00:19:25,920 Speaker 1: Is there a good or a bad time to start 375 00:19:26,160 --> 00:19:27,280 Speaker 1: or or to buy stock. 376 00:19:28,000 --> 00:19:32,080 Speaker 2: There's a great time to buy stock, and it's typically 377 00:19:32,119 --> 00:19:35,120 Speaker 2: when the market is down, and so we only get 378 00:19:35,160 --> 00:19:40,400 Speaker 2: those opportunities every ten years. We're in one of those 379 00:19:40,480 --> 00:19:45,480 Speaker 2: opportunities right now. So typically the stock market will crash 380 00:19:45,720 --> 00:19:49,280 Speaker 2: every ten years. We just recently had a crash. We 381 00:19:49,400 --> 00:19:52,800 Speaker 2: had two back to back crashes during COVID because of 382 00:19:52,840 --> 00:19:56,199 Speaker 2: the pandemic and then again because of the war with 383 00:19:56,680 --> 00:20:00,000 Speaker 2: Ukraine and Russia, and so the stock market comes down. 384 00:20:00,240 --> 00:20:02,719 Speaker 2: You have to look at it as like these companies 385 00:20:03,320 --> 00:20:06,640 Speaker 2: are a lot cheaper than what they were a few 386 00:20:06,720 --> 00:20:09,000 Speaker 2: years ago, so you're starting to buy them at a 387 00:20:09,119 --> 00:20:12,439 Speaker 2: cheaper price, and then we can anticipate for the stock 388 00:20:12,480 --> 00:20:15,040 Speaker 2: market to begin its recovery, which it has. It's been 389 00:20:15,119 --> 00:20:18,600 Speaker 2: a year almost in October that it has been recovering. 390 00:20:19,200 --> 00:20:23,720 Speaker 2: And we can anticipate based on historical patterns that it 391 00:20:23,760 --> 00:20:27,399 Speaker 2: will continue to grow in the next ten years. So 392 00:20:27,560 --> 00:20:30,920 Speaker 2: this is actually one of the best times to get 393 00:20:30,960 --> 00:20:35,479 Speaker 2: started on your investing journey and understanding the process of 394 00:20:35,520 --> 00:20:39,240 Speaker 2: the market and remembering that it's not a sprint, it's 395 00:20:39,280 --> 00:20:43,280 Speaker 2: a marathon. And you know, I'm working diligently to create 396 00:20:43,400 --> 00:20:47,719 Speaker 2: resources so that we can understand and digest the information 397 00:20:48,119 --> 00:20:51,240 Speaker 2: from a completely different perspective, from a child of immigrants, 398 00:20:51,320 --> 00:20:55,760 Speaker 2: from someone that was deep in scarcity mindset that I 399 00:20:55,840 --> 00:20:58,360 Speaker 2: work to overcome that on a day to day basis. 400 00:20:58,960 --> 00:21:00,800 Speaker 1: Do you think because you still started how long ago 401 00:21:00,840 --> 00:21:02,520 Speaker 1: you said investing in the stock market? 402 00:21:03,240 --> 00:21:07,120 Speaker 2: I started in twenty thirteen, so ten years ago. 403 00:21:07,200 --> 00:21:09,760 Speaker 1: Okay, ten years ago, and do you think things have changed? 404 00:21:09,800 --> 00:21:11,920 Speaker 1: You think it's still possible to do what you did, 405 00:21:12,000 --> 00:21:14,680 Speaker 1: like invest the amount that you've invested and made the 406 00:21:14,720 --> 00:21:18,040 Speaker 1: amount that you've made absolutely always. 407 00:21:18,080 --> 00:21:21,840 Speaker 2: So you know, someone that we are really familiar with 408 00:21:21,880 --> 00:21:23,880 Speaker 2: in terms of the amount of wealth that they have 409 00:21:24,200 --> 00:21:27,040 Speaker 2: is Warren Buffett. When he started when he was eleven 410 00:21:27,119 --> 00:21:30,000 Speaker 2: years old investing in the stock market, and so that's 411 00:21:30,040 --> 00:21:32,800 Speaker 2: what's gotten him to where he is today. And he 412 00:21:33,000 --> 00:21:37,919 Speaker 2: started with McDonald's, Johnson and Johnson and Coca Cola, and 413 00:21:38,000 --> 00:21:41,879 Speaker 2: so he still holds a lot of those investments to 414 00:21:42,040 --> 00:21:45,240 Speaker 2: this day. And so I want us to look at 415 00:21:45,359 --> 00:21:49,040 Speaker 2: the stock market as an opportunity for us to invest 416 00:21:49,119 --> 00:21:52,600 Speaker 2: in America. That's something that Warren Buffett always says, like, 417 00:21:52,640 --> 00:21:55,280 Speaker 2: why wouldn't you want to own a piece of America, 418 00:21:55,359 --> 00:21:58,880 Speaker 2: one of the biggest, most wealthiest countries in the world. 419 00:21:58,960 --> 00:22:01,760 Speaker 2: We'd want to own the companies that have come out 420 00:22:01,800 --> 00:22:05,280 Speaker 2: of this country. So I foresee the stock market being 421 00:22:05,320 --> 00:22:09,400 Speaker 2: a viable investment for centuries generations to come. I think 422 00:22:09,480 --> 00:22:13,400 Speaker 2: what holds us back is definitely the lack of knowledge. 423 00:22:13,480 --> 00:22:16,399 Speaker 2: Like we're not taught these things in school. Most of 424 00:22:16,440 --> 00:22:21,280 Speaker 2: the stock market education is generational knowledge, which is equivalent 425 00:22:21,280 --> 00:22:22,439 Speaker 2: to generational wealth. 426 00:22:23,000 --> 00:22:24,399 Speaker 3: It's really interesting for me. 427 00:22:24,520 --> 00:22:27,520 Speaker 2: I have a seven year old son and then I 428 00:22:27,560 --> 00:22:29,920 Speaker 2: have my twenty nine year old daughter that I had 429 00:22:29,920 --> 00:22:33,600 Speaker 2: when I was a teen, and I've gotten to see 430 00:22:33,800 --> 00:22:36,520 Speaker 2: the difference in the way both of them think. Don't 431 00:22:36,520 --> 00:22:39,600 Speaker 2: get me wrong, my daughter is incredible. She owns the school, 432 00:22:39,760 --> 00:22:43,359 Speaker 2: She's very successful in her own right. I'm very proud 433 00:22:43,359 --> 00:22:43,880 Speaker 2: of her. 434 00:22:44,920 --> 00:22:47,520 Speaker 4: And you should be. I'm like, my eyes are cheering up. 435 00:22:47,560 --> 00:22:49,760 Speaker 4: This is amazing. Okay, because I'm so sorry. 436 00:22:49,760 --> 00:22:51,600 Speaker 1: This is coming from like where you came from and 437 00:22:52,000 --> 00:22:54,359 Speaker 1: you had her at fourteen, like this is this is 438 00:22:54,440 --> 00:22:57,480 Speaker 1: amazing and you should be so proud of yourself, like 439 00:22:57,720 --> 00:22:59,960 Speaker 1: it just girl, Oh my god. 440 00:22:59,840 --> 00:23:01,600 Speaker 4: We have to go to dinner anyways, go ahead. 441 00:23:02,160 --> 00:23:02,800 Speaker 2: Let's do it. 442 00:23:03,000 --> 00:23:05,119 Speaker 3: Meet you and Patty. We gotta make it happy. 443 00:23:05,200 --> 00:23:07,680 Speaker 4: Yes, yes, yeah, So. 444 00:23:08,200 --> 00:23:11,520 Speaker 2: You know, I've gotten to see the way she has 445 00:23:11,640 --> 00:23:15,000 Speaker 2: moved through life and navigated it in her struggles where 446 00:23:15,040 --> 00:23:19,919 Speaker 2: my son is in a completely different world. He was 447 00:23:20,040 --> 00:23:23,240 Speaker 2: watching a wrestling movie and in the movie there was 448 00:23:23,280 --> 00:23:26,560 Speaker 2: this man that goes into the restaurant to hold up 449 00:23:26,880 --> 00:23:29,920 Speaker 2: to like steal the money from the cash register using 450 00:23:29,920 --> 00:23:33,320 Speaker 2: his finger and hiding his hand over his jacket. My 451 00:23:33,400 --> 00:23:37,600 Speaker 2: son pauses the movie and says, I feel so bad 452 00:23:37,680 --> 00:23:40,160 Speaker 2: for him, and I was like the guy getting robbed, 453 00:23:40,200 --> 00:23:42,639 Speaker 2: the kid under the table, Like who do you feel 454 00:23:42,680 --> 00:23:45,199 Speaker 2: bad for? And he's like, I feel bad for the 455 00:23:45,320 --> 00:23:47,480 Speaker 2: man that is robbing. 456 00:23:47,119 --> 00:23:49,520 Speaker 3: The restaurant and I was like why. 457 00:23:49,960 --> 00:23:53,800 Speaker 2: He's like because he's just looking for money, and I 458 00:23:53,920 --> 00:23:57,399 Speaker 2: was like, yeah, you're right, Yeah, he is just looking 459 00:23:57,440 --> 00:23:59,720 Speaker 2: for money. And he's like and he doesn't know where 460 00:23:59,760 --> 00:24:02,040 Speaker 2: to get money, and I was like, and where do 461 00:24:02,119 --> 00:24:02,760 Speaker 2: you get money? 462 00:24:02,760 --> 00:24:04,280 Speaker 3: And he's like the stock market. 463 00:24:04,920 --> 00:24:05,480 Speaker 2: He was three. 464 00:24:05,680 --> 00:24:06,719 Speaker 4: I gotta love it. 465 00:24:08,960 --> 00:24:09,880 Speaker 3: I love that. 466 00:24:10,960 --> 00:24:13,680 Speaker 2: So and that's what I mean, right, is like that's 467 00:24:13,840 --> 00:24:18,600 Speaker 2: generational wealth. Like I might think, oh, no, miss that lacion, 468 00:24:18,760 --> 00:24:20,760 Speaker 2: or he's not he doesn't know what's going on in 469 00:24:20,760 --> 00:24:22,840 Speaker 2: my life, but he was three years old and able 470 00:24:22,920 --> 00:24:26,720 Speaker 2: to understand that you get money from the stock market, 471 00:24:26,960 --> 00:24:30,919 Speaker 2: and so I think, like that's also generational wealth. Is 472 00:24:30,960 --> 00:24:33,760 Speaker 2: like the knowledge that we acquire and the things that 473 00:24:33,800 --> 00:24:36,840 Speaker 2: we start paying attention to will be the things that 474 00:24:36,880 --> 00:24:39,600 Speaker 2: our children pay attention to. Just like a lot of 475 00:24:39,720 --> 00:24:42,560 Speaker 2: us that are children of immigrants and watched our parents. 476 00:24:42,200 --> 00:24:43,119 Speaker 3: Work really hard. 477 00:24:43,640 --> 00:24:47,200 Speaker 2: Our perception of making money is a lot different than 478 00:24:47,240 --> 00:24:50,719 Speaker 2: someone that didn't break their back or hurt their mental 479 00:24:50,760 --> 00:24:53,639 Speaker 2: health trying to put food on the table. So I 480 00:24:53,680 --> 00:24:57,639 Speaker 2: think this education is really important for our communities. 481 00:24:57,600 --> 00:24:59,879 Speaker 1: Absolutely, And I think that's what it is, lack of 482 00:24:59,840 --> 00:25:02,359 Speaker 1: a information because so many people are afraid but because 483 00:25:02,400 --> 00:25:04,320 Speaker 1: they don't know, you know, but I want demos, Like 484 00:25:04,359 --> 00:25:06,520 Speaker 1: it's like I don't want to seem dumb, so I'd 485 00:25:06,600 --> 00:25:08,760 Speaker 1: rather not ask, you know. And it's like, no, there's 486 00:25:08,760 --> 00:25:12,280 Speaker 1: so much power in asking questions and informing yourself. I'm 487 00:25:12,280 --> 00:25:14,280 Speaker 1: so happy about that that we're able to talk about this. 488 00:25:14,359 --> 00:25:16,439 Speaker 1: And what do you think is like like initially so 489 00:25:16,520 --> 00:25:18,199 Speaker 1: confusing about the stock market? 490 00:25:18,520 --> 00:25:21,679 Speaker 2: Oh, it has its own language. It's like speaking a 491 00:25:21,720 --> 00:25:27,960 Speaker 2: foreign language. There's so many terms and abbreviations. 492 00:25:28,080 --> 00:25:29,119 Speaker 3: There's so much. 493 00:25:29,400 --> 00:25:32,720 Speaker 2: But I put a glossary in the back of the book. 494 00:25:32,880 --> 00:25:37,040 Speaker 2: I break things down with analogies. I help you process 495 00:25:37,080 --> 00:25:41,119 Speaker 2: and understand. I paint the picture for you so that 496 00:25:41,200 --> 00:25:44,359 Speaker 2: you can really grasp what they're saying. I refuse that 497 00:25:44,440 --> 00:25:47,200 Speaker 2: we not participate in the stock market because we don't 498 00:25:47,280 --> 00:25:49,560 Speaker 2: understand the language. And so that's why it was so 499 00:25:49,800 --> 00:25:50,640 Speaker 2: important for. 500 00:25:50,640 --> 00:25:52,119 Speaker 3: Me to begin teaching this. 501 00:25:52,600 --> 00:25:55,400 Speaker 2: You know, the book is in libraries, it's a resource, 502 00:25:55,520 --> 00:25:59,520 Speaker 2: it's accessible. We no longer can say like that we 503 00:25:59,600 --> 00:26:02,720 Speaker 2: don't have the resources because I'm working really hard to 504 00:26:02,800 --> 00:26:07,040 Speaker 2: create those on a day to day basis amazing. 505 00:26:07,280 --> 00:26:09,840 Speaker 1: I love it, and I love the colors that you chose, 506 00:26:09,920 --> 00:26:17,639 Speaker 1: and it just it's fun. And do you recommend companies 507 00:26:17,680 --> 00:26:20,840 Speaker 1: where they have financial advisors and then they say, Okay, 508 00:26:21,119 --> 00:26:22,399 Speaker 1: how much money do you want to put in the 509 00:26:22,440 --> 00:26:25,280 Speaker 1: stock market? Do you recommend something like that, or is 510 00:26:25,320 --> 00:26:28,320 Speaker 1: it just better to do it yourself. So this is 511 00:26:28,359 --> 00:26:30,320 Speaker 1: a really great question. I love this question. 512 00:26:30,440 --> 00:26:33,800 Speaker 2: This is going to be different for different folks depending 513 00:26:34,000 --> 00:26:38,600 Speaker 2: on the budget that you have, because sometimes financial advisors 514 00:26:38,680 --> 00:26:41,640 Speaker 2: require for you to have a certain amount of money 515 00:26:41,720 --> 00:26:45,080 Speaker 2: to begin investing, so you have the liberty to do 516 00:26:45,160 --> 00:26:48,480 Speaker 2: it on your own. But if you want to have 517 00:26:48,560 --> 00:26:52,119 Speaker 2: a financial advisor, I think that that's great as well. 518 00:26:52,760 --> 00:26:58,200 Speaker 2: And here is my perspective on this. Everyone has money wounds, 519 00:26:58,320 --> 00:27:02,800 Speaker 2: everyone has fears on different scales. Right, it looks different 520 00:27:02,840 --> 00:27:05,359 Speaker 2: for everybody. So I just want you to understand that 521 00:27:05,400 --> 00:27:08,199 Speaker 2: when you have a financial advisor, just because they're a 522 00:27:08,240 --> 00:27:10,680 Speaker 2: financial advisor, that doesn't mean that they don't have their 523 00:27:10,720 --> 00:27:14,200 Speaker 2: own money stories and their own fears. So they may 524 00:27:14,240 --> 00:27:17,880 Speaker 2: be making decisions on your money that is right for them, 525 00:27:18,400 --> 00:27:21,159 Speaker 2: and it may not necessarily be right for you. But 526 00:27:21,280 --> 00:27:24,320 Speaker 2: if you don't understand the stock market at all, you 527 00:27:24,440 --> 00:27:27,159 Speaker 2: might not even know what is right for you. I 528 00:27:27,520 --> 00:27:30,960 Speaker 2: get so many messages from folks that read my book 529 00:27:31,160 --> 00:27:34,480 Speaker 2: and then come back and say, I asked my financial 530 00:27:34,560 --> 00:27:37,440 Speaker 2: advisor about all these things I was learning, and my 531 00:27:37,560 --> 00:27:38,720 Speaker 2: financial advisors like. 532 00:27:38,680 --> 00:27:41,359 Speaker 3: How did you know that? How who's talking to you? 533 00:27:41,440 --> 00:27:42,679 Speaker 3: Who else are you talking to? 534 00:27:42,760 --> 00:27:44,560 Speaker 2: And they're like, I just read your book, you know, 535 00:27:44,960 --> 00:27:47,280 Speaker 2: And so I think this is good for us to 536 00:27:47,400 --> 00:27:51,159 Speaker 2: know what financial advisors are doing with our money and 537 00:27:51,320 --> 00:27:54,520 Speaker 2: find one that is right for you. The book arms 538 00:27:54,560 --> 00:27:58,040 Speaker 2: you in order to have a strong dialogue and question 539 00:27:58,200 --> 00:28:01,159 Speaker 2: what they're doing and understand what they're doing with your money. 540 00:28:01,640 --> 00:28:04,159 Speaker 1: Is there anything else, Linda, that you would like to 541 00:28:04,320 --> 00:28:05,840 Speaker 1: like that we didn't talk about that you would like 542 00:28:05,880 --> 00:28:06,320 Speaker 1: to add? 543 00:28:06,480 --> 00:28:08,200 Speaker 4: Is there something that I a question I missed? 544 00:28:08,840 --> 00:28:11,880 Speaker 2: I think we pretty much covered it all. I think, 545 00:28:11,920 --> 00:28:15,400 Speaker 2: if anything, what I would like to share is touching 546 00:28:15,560 --> 00:28:19,560 Speaker 2: on the being positive. It's important for us to understand 547 00:28:19,680 --> 00:28:24,720 Speaker 2: that we are capable of doing so much more than 548 00:28:24,840 --> 00:28:28,399 Speaker 2: we understand at this current moment in time, and that 549 00:28:28,720 --> 00:28:32,639 Speaker 2: everything that is around you right now in this moment, 550 00:28:33,160 --> 00:28:36,680 Speaker 2: every article, whether it's our clothing, the chair that you're 551 00:28:36,720 --> 00:28:40,920 Speaker 2: sitting on, the cup at your desk, the headphones, whatever 552 00:28:40,960 --> 00:28:44,640 Speaker 2: it is, all of that was a thought in someone's mind. 553 00:28:45,040 --> 00:28:49,200 Speaker 2: That was a thought, and so everything starts as a thought. 554 00:28:49,480 --> 00:28:52,880 Speaker 2: Without our thoughts, there is no money. So at the 555 00:28:52,920 --> 00:28:55,720 Speaker 2: core of money, at the core of currency, is only 556 00:28:55,760 --> 00:28:56,280 Speaker 2: our thoughts. 557 00:28:56,360 --> 00:28:57,200 Speaker 3: Without us. 558 00:28:57,560 --> 00:29:01,200 Speaker 2: Money doesn't exist like money exists because we think and 559 00:29:01,240 --> 00:29:04,640 Speaker 2: then we turn what we think into something that creates 560 00:29:04,760 --> 00:29:08,680 Speaker 2: value in other people's lives and then generates money. So 561 00:29:09,080 --> 00:29:11,480 Speaker 2: at the core of what I want you to take 562 00:29:11,520 --> 00:29:15,360 Speaker 2: away from today is to understand that your mind is unlimited. 563 00:29:15,440 --> 00:29:19,160 Speaker 2: Despite of your circumstances where you come from, how much 564 00:29:19,200 --> 00:29:22,720 Speaker 2: money you have or you don't have, Everything you need 565 00:29:22,880 --> 00:29:26,840 Speaker 2: is within your mind. And so the stock market, for me, 566 00:29:27,120 --> 00:29:30,320 Speaker 2: is just a component to help the money that you've 567 00:29:30,440 --> 00:29:33,440 Speaker 2: brought in, to help you multiply that money in different 568 00:29:33,440 --> 00:29:37,280 Speaker 2: ways and perceive money from a completely different space. And 569 00:29:37,360 --> 00:29:39,680 Speaker 2: so I don't want for anyone to walk away from 570 00:29:39,760 --> 00:29:41,960 Speaker 2: this to think that the stock market is not for them. 571 00:29:42,520 --> 00:29:46,160 Speaker 2: It is absolutely for you. And the knowledge that comes 572 00:29:46,200 --> 00:29:51,200 Speaker 2: with understanding the stock market is priceless. It is priceless 573 00:29:51,200 --> 00:29:56,000 Speaker 2: because you're getting to understand business from a completely different perspective. 574 00:29:56,200 --> 00:29:59,680 Speaker 2: Like most of the publicly traded companies are companies that 575 00:29:59,760 --> 00:30:04,840 Speaker 2: are to some extent dictating our lives and the technology 576 00:30:04,880 --> 00:30:06,920 Speaker 2: that we use and how we move on a day 577 00:30:06,960 --> 00:30:10,440 Speaker 2: to day basis, and getting to understand how these companies 578 00:30:10,480 --> 00:30:14,680 Speaker 2: work as an investor in these companies is so valuable. 579 00:30:14,760 --> 00:30:17,240 Speaker 2: So I think, if anything, I would just like for 580 00:30:17,280 --> 00:30:20,640 Speaker 2: folks to take that away, that it's not just about 581 00:30:20,720 --> 00:30:23,920 Speaker 2: learning about the stock market. It's a much more deeper 582 00:30:24,440 --> 00:30:28,680 Speaker 2: experience that happens internally with our money mindset and then 583 00:30:28,800 --> 00:30:33,400 Speaker 2: is reflected in money form in our portfolio in our part. 584 00:30:33,440 --> 00:30:35,480 Speaker 1: Yeah, and so it's safe to say that you truly 585 00:30:35,520 --> 00:30:39,600 Speaker 1: believe that manifestation or spirituality, whatever you want to call it, 586 00:30:39,640 --> 00:30:42,760 Speaker 1: is definitely connected to your wealth. Like it's all, it's 587 00:30:42,800 --> 00:30:43,720 Speaker 1: all intertwined. 588 00:30:44,120 --> 00:30:47,400 Speaker 2: It is a reflection, and it's so hard for us 589 00:30:47,520 --> 00:30:52,440 Speaker 2: to sometimes come to terms with that because we've seen 590 00:30:52,560 --> 00:30:57,640 Speaker 2: so much scarcity or injustice in marginalized communities. But when 591 00:30:57,680 --> 00:31:00,880 Speaker 2: we continue to focus on that versus focus on our 592 00:31:00,920 --> 00:31:04,800 Speaker 2: internal power and what we can create, then that's what's 593 00:31:04,800 --> 00:31:07,719 Speaker 2: going to be manifested for ourselves and our lives. I 594 00:31:07,800 --> 00:31:10,880 Speaker 2: really truly believe that the amount of money that we 595 00:31:11,000 --> 00:31:14,160 Speaker 2: bring in and that we have is a reflection of 596 00:31:14,280 --> 00:31:18,240 Speaker 2: how much we value ourselves internally, and the faster that 597 00:31:18,280 --> 00:31:22,080 Speaker 2: we can come to terms with that realization, the faster 598 00:31:22,200 --> 00:31:25,920 Speaker 2: that we can value ourselves even more and ask for 599 00:31:26,080 --> 00:31:31,160 Speaker 2: higher paying wages at our jobs as latinas and demand 600 00:31:31,400 --> 00:31:32,760 Speaker 2: for what we deserve. 601 00:31:33,440 --> 00:31:38,040 Speaker 1: Yes, it's valuing ourselves and giving us our place, you know. 602 00:31:38,200 --> 00:31:40,720 Speaker 1: And what I always tell you guys, knowledge is power, 603 00:31:40,960 --> 00:31:44,040 Speaker 1: you know, and this is a great way. Like for me, 604 00:31:44,320 --> 00:31:47,400 Speaker 1: I'm going to definitely read this book because it's something 605 00:31:47,440 --> 00:31:49,080 Speaker 1: that I've been thinking about for a long time, but 606 00:31:49,120 --> 00:31:50,040 Speaker 1: I've been too afraid. 607 00:31:50,080 --> 00:31:51,960 Speaker 4: That's just the truth, and that's what it is. 608 00:31:52,000 --> 00:31:53,920 Speaker 1: Like the more knowledge you have about a certain subject, 609 00:31:53,960 --> 00:31:56,040 Speaker 1: the more confident you feel about speaking about it, about 610 00:31:56,080 --> 00:31:59,440 Speaker 1: doing it, about taking that step. You completely change my 611 00:31:59,480 --> 00:32:02,320 Speaker 1: mindset and the perspective that I had on the stock market, 612 00:32:02,400 --> 00:32:04,960 Speaker 1: like in just this conversation, so I could just imagine 613 00:32:05,120 --> 00:32:08,480 Speaker 1: reading and finishing the book. So honestly, thank you, thank 614 00:32:08,480 --> 00:32:09,120 Speaker 1: you so much. 615 00:32:09,560 --> 00:32:10,200 Speaker 4: Before you go. 616 00:32:10,240 --> 00:32:12,040 Speaker 1: You have a podcast called Investies. 617 00:32:12,560 --> 00:32:15,640 Speaker 2: Yeah, thank you so much for sharing your platform and 618 00:32:15,680 --> 00:32:21,000 Speaker 2: being so generous. Investies is a passion project with myself 619 00:32:21,040 --> 00:32:25,400 Speaker 2: and another production company where we break down economics and 620 00:32:25,480 --> 00:32:29,440 Speaker 2: the stock market and very easy terms. I give definitions. 621 00:32:29,440 --> 00:32:32,560 Speaker 2: I don't just speak at you. I'm speaking to you 622 00:32:32,680 --> 00:32:36,680 Speaker 2: and explaining what is happening in the economy and with 623 00:32:36,840 --> 00:32:40,760 Speaker 2: the stock market. It's super short, eight to twenty minutes long, 624 00:32:40,920 --> 00:32:44,000 Speaker 2: depending on what type of news is happening. We also 625 00:32:44,120 --> 00:32:46,960 Speaker 2: like to, you know, keep it real and infuse some 626 00:32:47,040 --> 00:32:50,440 Speaker 2: spirituality in there, because you know, we're spiritual beings and 627 00:32:50,560 --> 00:32:51,520 Speaker 2: money spiritual. 628 00:32:52,400 --> 00:32:54,360 Speaker 4: I love it. Oh my goodness, I'm so good. 629 00:32:54,400 --> 00:32:57,040 Speaker 1: I'm gonna listen to it, you guys, listen to investies 630 00:32:57,080 --> 00:33:00,560 Speaker 1: and listen to Cheeky's and chill. Okay, okay, and you're book. Okay, 631 00:33:00,600 --> 00:33:03,000 Speaker 1: so the book is called again you guys. Wealth Warrior 632 00:33:03,040 --> 00:33:06,120 Speaker 1: Eight Steps for Communities of Color to Conquer the Stock Market. 633 00:33:06,360 --> 00:33:08,760 Speaker 1: Can you share your your socials with us? 634 00:33:08,920 --> 00:33:10,200 Speaker 3: Yes, absolutely so you. 635 00:33:10,160 --> 00:33:14,080 Speaker 2: Can find me on Instagram at Lou's Warrior. 636 00:33:13,920 --> 00:33:18,200 Speaker 1: Luz Okay, awesome, all right, yes, so Loose Warrior. You 637 00:33:18,200 --> 00:33:21,520 Speaker 1: guys follow her. I hope that you guys enjoyed this episode. Linda, 638 00:33:21,520 --> 00:33:24,280 Speaker 1: You've been amazing. Thank you for what you're doing for 639 00:33:24,360 --> 00:33:27,480 Speaker 1: the world, for our community, for making it so easy 640 00:33:27,480 --> 00:33:29,880 Speaker 1: to understand. I think this is what we all needed. 641 00:33:30,040 --> 00:33:32,840 Speaker 1: And I'm super inspired. I really am an inspired to 642 00:33:32,920 --> 00:33:36,080 Speaker 1: like go and invest you know in where we live, 643 00:33:36,920 --> 00:33:39,640 Speaker 1: and we deserve it, you guys, We deserve to own 644 00:33:39,720 --> 00:33:41,560 Speaker 1: a piece of America. Honestly, you put it in the 645 00:33:41,560 --> 00:33:44,440 Speaker 1: best way and you guys before you go. You know, 646 00:33:44,480 --> 00:33:49,960 Speaker 1: I always have my motivational quote, and the motivational quote 647 00:33:49,960 --> 00:33:54,200 Speaker 1: for the day is wealth consists not in having great possessions, 648 00:33:54,280 --> 00:33:57,720 Speaker 1: but in having few wants another one. The goal is 649 00:33:57,720 --> 00:34:01,720 Speaker 1: it more money. The goal is financial. Them those I 650 00:34:01,720 --> 00:34:06,080 Speaker 1: thought were great for today's you know subject and what 651 00:34:06,120 --> 00:34:11,919 Speaker 1: we're talking about. And again, Linda Quelina like, I love 652 00:34:11,960 --> 00:34:15,040 Speaker 1: this conversation and I hope you enjoyed it too. So 653 00:34:15,160 --> 00:34:17,719 Speaker 1: thank you guys so much. Thank you for listening to 654 00:34:17,760 --> 00:34:21,239 Speaker 1: this episode. And yeah, it's definitely gonna be one that 655 00:34:21,239 --> 00:34:23,919 Speaker 1: I'm going to listen to over and over all. Right, guys, 656 00:34:23,920 --> 00:34:34,160 Speaker 1: thank you, thank you. Do you need advice on love, relationships, health, emas. 657 00:34:34,560 --> 00:34:36,840 Speaker 1: I'm so excited to share with you that my Cheeky's 658 00:34:36,880 --> 00:34:40,240 Speaker 1: and Chill podcast will have an extra episode drop each week. 659 00:34:40,600 --> 00:34:43,480 Speaker 1: I'll be answering all your questions. Just leave me a 660 00:34:43,560 --> 00:34:49,200 Speaker 1: voice message. All you have to do is go to 661 00:34:49,280 --> 00:34:52,520 Speaker 1: speak pipe dot com slash Cheeky's and Chill Podcast and 662 00:34:52,600 --> 00:34:53,520 Speaker 1: record your questions. 663 00:34:53,600 --> 00:34:54,840 Speaker 4: I can't wait to hear from you. 664 00:34:58,920 --> 00:35:03,080 Speaker 1: This is a production of iHeartRadio and the Microldura podcast Network. 665 00:35:03,520 --> 00:35:06,440 Speaker 1: Follow us on Instagram at Michael Dura podcasts and follow 666 00:35:06,480 --> 00:35:09,360 Speaker 1: me Cheeky's That's c h i q u i s. 667 00:35:09,680 --> 00:35:14,120 Speaker 1: For more podcasts from iHeart, visit the iHeartRadio app, Apple Podcasts, 668 00:35:14,239 --> 00:35:17,040 Speaker 1: or wherever you listen to your favorite podcast, and check 669 00:35:17,120 --> 00:35:19,040 Speaker 1: us out on YouTube