Speaker 1: Follow Cheeky's and Chill on Amazon Music. Just head to
Speaker 1: Amazon dot com slash Cheeky's and check out even more
Speaker 1: podcasts by Mike Utura throughout Hispanic Heritage month. Listen to
Speaker 1: my latest episode of Cheekys and Chill on Amazon Music.
Speaker 1: At Amazon dot com slash Cheeky's and listen to Cheeky's
Speaker 1: and Chill on Amazon Music, or ask Alexa to play
Speaker 1: Cheeky's and Chill on Amazon Music. What do you think
Speaker 1: is like initially so confusing about the stock market.
Speaker 2: I really truly believe that the amount of money that
Speaker 2: we bring in and that we have is a reflection
Speaker 2: of how much we value ourselves. There was this deep
Speaker 2: desire for me to one day have a house that
Speaker 2: looked like the ones my mom used to clean.
Speaker 3: Hello.
Speaker 1: Hello, Happy Monday everyone. I hope you all had a
Speaker 1: really great September and are ready for October.
Speaker 3: Oh, my favorite season, you guys. I love it. I
Speaker 3: love anything punkin and.
Speaker 1: Just excited about the fall and feeling a little like,
Speaker 1: I don't know, fall and winter are my favorite you guys. Anyways,
Speaker 1: on today's episode, we're going to talk about the stock market.
Speaker 1: I know this topic can be a little intimidating, which
Speaker 1: is why I'm excited for all of you to meet
Speaker 1: today's guest. She's really great at explaining the stock market
Speaker 1: and teaching us about how we can use it to
Speaker 1: build wealth. So get ready, this is a good one.
Speaker 1: This is cheeky's and chill. So before we introduce today's guest,
Speaker 1: I just want to give you guys a little disclaimer.
Speaker 1: This episode is meant to be helpful and informative, but
Speaker 1: it's not meant to be taken as professional financial advice. Okay,
Speaker 1: So now that that's out of the way, today's special
Speaker 1: guest is Linda Garcia. She's a brilliant financial educator who
Speaker 1: works to empower communities of color. She's also the host
Speaker 1: of the podcast Investees and the author of the book
Speaker 1: Wealth Warrior, Eight Steps for Communities of Color to Conquer
Speaker 1: the Stock Market. Linda, welcome it is it's so nice
Speaker 1: to finally meet you. I've heard so many great things
Speaker 1: about you. We have mutual friends actually too.
Speaker 2: Thank you for having me and opening up your space
Speaker 2: to this conversation.
Speaker 3: No, of course, I'm excited.
Speaker 1: I think this is something that we definitely need to
Speaker 1: talk about more in our communities. Especially as Latina as
Speaker 1: we at least for me, well, my mom was kind
Speaker 1: of good with showing me how to save money and
Speaker 1: stuff like that.
Speaker 3: I just didn't listen. Now I'm better because I learned
Speaker 3: the hard way.
Speaker 1: But anyways, I did want to ask you a little
Speaker 1: bit more about you about your background, because I think
Speaker 1: it's really interesting. A lot of people are like, oh,
Speaker 1: my god, she's successful, and they don't really see the
Speaker 1: struggle behind that. They think, oh, her life must have
Speaker 1: been so easy, and that wasn't necessarily the case for you.
Speaker 1: You know, you were a mother at fourteen years old,
Speaker 1: is that correct?
Speaker 2: Yeah, at fourteen years old, I became a mother.
Speaker 4: I was also in gangs.
Speaker 3: I was just.
Speaker 2: Living a life that was very challenging. Did I stopped
Speaker 2: living with my parents at twelve years old, and it
Speaker 2: was just extreme difficult. Like I truly became the definition
Speaker 2: of a statistic. I feel like that was much more
Speaker 2: common back in the nineties, like, oh, she's a statistic,
Speaker 2: and you kind of get discarded in your family and
Speaker 2: extended family and even in society. So that was extremely
Speaker 2: difficult for me to go through as just a human being,
Speaker 2: as a child, and to think that I was no
Speaker 2: longer going to amount to anything because I, you know,
Speaker 2: had a child. Was disheartening, and so I lived a
Speaker 2: pretty rough experience. I had positive influences in my life,
Speaker 2: which became my teachers who really nurtured me in high school.
Speaker 2: I even lived with one of my teachers at one
Speaker 2: point in time.
Speaker 4: And it's really.
Speaker 2: Because of them that I attribute the woman that I've
Speaker 2: become today, completely because of my teachers.
Speaker 1: Yeah, that's awesome because your parents were also immigrants, right, Yes,
Speaker 1: so you have literally you've worked your way and you've
Speaker 1: worked very hard to get to this point.
Speaker 2: Yes, and I feel like it's still a lot of work.
Speaker 2: I mean even today just I really love economics and
Speaker 2: I love learning about what is taking place and the
Speaker 2: economy just to understand and process how we can navigate
Speaker 2: the future in a much more strategic way. And even
Speaker 2: just like today listening to the economy because we just
Speaker 2: got notified that there will be a pause on rate hikes.
Speaker 2: We're trying to tackle inflation for the country, and I'm
Speaker 2: like listening to these people speak and I'm really trying
Speaker 2: to keep up, and I'm like, wow, they're so far ahead,
Speaker 2: and a lot of them, look my age, and will
Speaker 2: I ever be that intelligent?
Speaker 4: Like, there's still so much work.
Speaker 2: That goes into what I do on a day to
Speaker 2: day basis. But I have to remind myself that I'm
Speaker 2: on my own journey and that I'm not less intelligent.
Speaker 2: I'm just learning at this point in time, and there's
Speaker 2: still a lot of room ahead.
Speaker 1: The thing that I tell people all the time is
Speaker 1: not to to compare yourself to other people and their
Speaker 1: growth and their progress. You know, to focus, and sometimes
Speaker 1: it's a little hard. It's hard not to, but that
Speaker 1: you have to remind yourself like, it's okay, We're still
Speaker 1: learning day by day.
Speaker 3: The good thing is.
Speaker 1: That there's that desire. We're striving to want to be
Speaker 1: better in every way. When did this love for the
Speaker 1: stock market or learning about generational wealth even all of this,
Speaker 1: Where did it come from? Yeah?
Speaker 2: I grew up watching my mom clean houses. She cleaned
Speaker 2: houses mainly in Laguna Beach, and so I had so
Speaker 2: much exposure to a lot of money via going with
Speaker 2: her to going to clean houses. There was this deep
Speaker 2: desire for me to one day have a house that
Speaker 2: looked like the ones my mom used to clean, or
Speaker 2: have celebrations and Christmas dinners or Thanksgivings and the way
Speaker 2: that they celebrated, like I just watched them with my
Speaker 2: mom working, and I wanted that for myself. It wasn't
Speaker 2: until after I had my daughter that I really had
Speaker 2: strong ambition. There's something to be said about being a mother.
Speaker 2: It's almost like it unleashes like a lioness. And even
Speaker 2: though I was young, it unleashed that for me, and
Speaker 2: so I had again that deep seated ambition to become
Speaker 2: something and do something for my daughter and myself and
Speaker 2: not repeat some of the same stories of the way
Speaker 2: I grew up. And so I began to study wealth overall,
Speaker 2: like I started to look at patterns and just research
Speaker 2: like how did this person get rich? And mostly everyone
Speaker 2: I was researching was, of course the way we say old,
Speaker 2: pale and stale, and so it was just like, you know,
Speaker 2: all these older white men, and I started to see
Speaker 2: a pattern, which was every time there was economic hardship
Speaker 2: like a recession, that was when their wealth would multiply
Speaker 2: a crazy amount. And so I started to really focus
Speaker 2: on that, on those types of patterns. And then I
Speaker 2: began to work at Netflix, and I had a white
Speaker 2: colleague that began educating me on the stock market, and
Speaker 2: I started to understand that there was an opportunity there
Speaker 2: for me to begin investing and growing my money in
Speaker 2: that way. And so I started to do that, and
Speaker 2: I opened up about my investing. One of my good friends,
Speaker 2: Patti Rodriguez, we were just at the start of our
Speaker 2: careers back in twenty twelve, and we would talk about
Speaker 2: the stock market. We had another friend named Brisia as well,
Speaker 2: and the three of us would just strategize. Then I
Speaker 2: just became a student of the market. I ended up
Speaker 2: investing a total of nine thousand dollars. Those nine thousand
Speaker 2: dollars turned into half a million dollars. The amount that
Speaker 2: I was investing was an amount that I could process.
Speaker 2: It was two hundred dollars a month. And so I
Speaker 2: was shocked that we never use the stock market as
Speaker 2: a vehicle to grow wealth. We think of real estate,
Speaker 2: we think of entrepreneurship, but we rarely think of about
Speaker 2: the stock market. And so I started to do more
Speaker 2: and more research, and I began to understand that only
Speaker 2: fifteen percent of Americans actually hold direct stock.
Speaker 3: Only fifteen per Wow, that's crazy.
Speaker 2: And out of those fifteen percent, it's the top ten
Speaker 2: percent most wealthiest people in the country, so a lot
Speaker 2: of people don't have access to stock.
Speaker 4: It's intimidating.
Speaker 2: Even when you open the conversation, you're like, it gives
Speaker 2: you anxiety, you know, yeah, and that's normal.
Speaker 1: Okay, So I think you and I need to have
Speaker 1: like an even longer conversation just so we could sit down.
Speaker 1: And I really I think I'm gonna need your help
Speaker 1: in my life because you're right. I think, Okay, we
Speaker 1: grow up in gon Bratucasa. You need to buy your
Speaker 1: house and that's where and yes, yes, that's I think
Speaker 1: that that's great. But I've been intimidated is the word
Speaker 1: to invest and put my money in the stock market,
Speaker 1: and thank goodness for you. Now I'm like okay, and
Speaker 1: I'm hoping our listeners as well are kind of like okay.
Speaker 1: Even if it doesn't have to be a large, large amount,
Speaker 1: it could be. Like you said, you started with nine
Speaker 1: thousand dollars, which is still a lot for a lot
Speaker 1: of people, but still can you start with one thousand dollars?
Speaker 2: Yes, And so I want to be very clear as well,
Speaker 2: it was two hundred dollars a month.
Speaker 4: How I started, So Okay, yes.
Speaker 2: The nine thousand was over the span of three years,
Speaker 2: but I was just investing little chunks every single month
Speaker 2: and being consistent. I think the biggest message I want
Speaker 2: to convey, and I think to bring you a little
Speaker 2: bit at ease Cheeky's, is like, it's really easy for
Speaker 2: us to walk into an Apple store and purchase a phone,
Speaker 2: purchase a computer, air pods, whatever the case may be.
Speaker 2: We are not afraid to walk into Apple and purchase products.
Speaker 2: For the most part, right we understand that we can
Speaker 2: use those products as an investment and start a business
Speaker 2: off of our phone. We understand the value of it.
Speaker 2: And so the way I want folks to start looking
Speaker 2: at the stock market is in the same way. I
Speaker 2: want you to not just be a consumer of the products,
Speaker 2: because we are some of the biggest consumers in our
Speaker 2: community in the United States. I want you to start
Speaker 2: to look at the opportunity of being a shareholder and
Speaker 2: owning a piece of Apple as well as purchasing the
Speaker 2: product and then getting the benefit of the stock increasing
Speaker 2: in value and then your investment increasing in value. It's
Speaker 2: easy for us to think about purchasing a home because
Speaker 2: our ancestors, our family members, our community members have all
Speaker 2: broken the barriers of doing that. It's a common experience
Speaker 2: for us to purchase a home, but it's also still
Speaker 2: very challenging for folks to save twenty percent. Real estate
Speaker 2: is very expensive in places like California and New York,
Speaker 2: and you have to have a stable job for two
Speaker 2: years and have credit. There's all of these barrier to entry.
Speaker 2: In order to get started with the stock market, all
Speaker 2: you need is your Social Security number, you open an account,
Speaker 2: and then you can start building your portfolio and start
Speaker 2: building assets.
Speaker 4: It's really that simple.
Speaker 2: Owning a house requires more effort on your part than
Speaker 2: purchasing a.
Speaker 1: Stock Okay, so the first step for sure is open
Speaker 1: an account.
Speaker 2: Yeah, so that's the first step in action, and I
Speaker 2: go through that in my book.
Speaker 4: I lay it out really easily.
Speaker 2: I even go through the steps of how to open
Speaker 2: the account, how to fill out the form. I just
Speaker 2: lay it out so that you can do it like
Speaker 2: you can execute it. At the core of all of
Speaker 2: this work, so the very first step before you open
Speaker 2: the account, I want you to be aware of the
Speaker 2: emotional work that you're going to do as you move
Speaker 2: through the process. Because we can take in all of
Speaker 2: the financial literacy, whether it's to buy real estate or
Speaker 2: to buy stocks, or how to invest or save for
Speaker 2: a retirement. All we want, but if we're not focusing
Speaker 2: on our mindset and our scarcity, then it's going to
Speaker 2: be real, really difficult for us to really be able
Speaker 2: to multiply our money in ways that we've never imagined.
Speaker 2: If we fear losing money, if we're emotionally attached and
Speaker 2: fear investing into ourselves or into anything else, that's going
Speaker 2: to be our biggest roadblock. And for so many of
Speaker 2: us child of immigrants, it's easy for us to get
Speaker 2: caught up in scarcity or fears of their.
Speaker 4: Not being enough outside of us.
Speaker 2: So I always like to share that the first most
Speaker 2: important step is going to be working on your money stories,
Speaker 2: your money wounds, and that's what I go over in
Speaker 2: the first chapter of the book. I find it really
Speaker 2: important to cover that first, especially from where we come
Speaker 2: from and not having these types of opportunities and being
Speaker 2: intimidated from participating in the stock market, so all of
Speaker 2: that is really important.
Speaker 1: I absolutely love that because I'm a firm believer in
Speaker 1: what you think, what you say, it's what you attract,
Speaker 1: you know, so it's all literally mind, body and soul.
Speaker 1: Where do we go to set up an account to
Speaker 1: start trading? Is there like a minimum amount as well?
Speaker 4: Great question.
Speaker 2: So it's really important for me to convey that I
Speaker 2: would like for folks to stay away from online platforms,
Speaker 2: so to speak. When I say online platforms, I mean
Speaker 2: like Robinhood type platforms. I've been saying this for a
Speaker 2: really long time for years now. They really target people
Speaker 2: of color. There's a lot of things that have gone
Speaker 2: wrong with that company in terms of giving people accounts
Speaker 2: that were not the right accounts for the person. They've
Speaker 2: been known to overcharge on the price of a stock
Speaker 2: more than what the stock is actually valued for at
Speaker 2: the time, and we may not notice because it's a
Speaker 2: few cents, but all of those things matter. And here's
Speaker 2: the other thing. When you start investing, you want to
Speaker 2: go to a company that is established and that has
Speaker 2: the back king. Especially during challenging economic times. You don't
Speaker 2: want to go to a new company that was just established.
Speaker 2: You want to go with the old money. That's the
Speaker 2: way we're going to be the safest. There's two brokerage
Speaker 2: accounts out there. One of them is really great just
Speaker 2: because they have fractional shares. So let me explain really
Speaker 2: quickly what a fractional share is. Let's say you want
Speaker 2: an Apple share and the Apple share costs one hundred dollars,
Speaker 2: and you right now don't have the budget to buy
Speaker 2: the share for one hundred dollars. With a fractional share,
Speaker 2: you can just invest five dollars, ten dollars, fifty dollars,
Speaker 2: seventy five dollars, one dollar if you wanted to buy
Speaker 2: a piece of a share, so you don't need a
Speaker 2: minimal amount. You can start with whatever you have. And
Speaker 2: the way I like for our community to start is
Speaker 2: the way I say it is, start with what you're
Speaker 2: okay with losing, just because I want you to emotionally
Speaker 2: unattach yourself from money and not be like, oh my gosh,
Speaker 2: my money if the stock market comes down a little,
Speaker 2: which it will and sometimes it'll come down a lot.
Speaker 2: I don't want you to have anxiety or overwhelm over
Speaker 2: what the money is doing. I want you to learn
Speaker 2: to emotionally break away from the money and just invest
Speaker 2: it and watch what it feels like to let go
Speaker 2: of money and have money work for you. It can
Speaker 2: feel painful in the short amount of time because it's volatile.
Speaker 2: But in years from now, you're gonna be grateful that
Speaker 2: you begin to do that type of work of letting
Speaker 2: go of money and begin investing it, and you're gonna
Speaker 2: be able to see the return on your investment. So
Speaker 2: there's no minimum to start. Fractional shares can be found
Speaker 2: in a company like Fidelity. There's also e Trade. There's
Speaker 2: several big companies I list them in the book as
Speaker 2: well that you can open your brokerage account with.
Speaker 1: So you guys, so you have to read the book, Okay,
Speaker 1: but still we're gonna get as much as we can
Speaker 1: from Linda today. But you even say that that got
Speaker 1: recipients can also enter the stock market as well, so
Speaker 1: that's great to know.
Speaker 3: Yeah.
Speaker 2: So all you need is either an iti in number
Speaker 2: or a Social Security number. So if you're a DOCA recipient,
Speaker 2: you can start building your assets and start building your portfolio.
Speaker 2: You can use your portfolio as leverage for when you
Speaker 2: do want to buy a house. It counts as part
Speaker 2: of your net worth. It's important for me to also
Speaker 2: convey that you can get started from the day that
Speaker 2: you are born, the day that you're given an iti
Speaker 2: in number, or the day that you're given a Social
Speaker 2: Security number, you can start building your assets and have
Speaker 2: a portfolio. So for any parents out there that have
Speaker 2: younger children or nieces and nephews, you can start a
Speaker 2: custodial account and that is an account that you manage
Speaker 2: for a child in your life. When they turn eighteen,
Speaker 2: that portfolio, it comes their portfolio.
Speaker 1: So how do you determine which stocks you should buy into? Like,
Speaker 1: are there any tips anything that you recommend?
Speaker 4: Absolutely?
Speaker 2: So the way I want you all to look at
Speaker 2: this is I want you to think of the companies
Speaker 2: that are mostly used a lot of the times folks think,
Speaker 2: oh the stock market, I need to find a needle
Speaker 2: in a haystack, or what's going to be the next
Speaker 2: big thing. I don't want you to think that way.
Speaker 2: I want you to think about the companies that we
Speaker 2: are all dependent on. What phone do you use, what
Speaker 2: computer do you use? What are you turning on when
Speaker 2: you're watching television? Like I literally want you to think
Speaker 2: of what you're most dependent on in your day to
Speaker 2: day and then once you look at what you're dependent on,
Speaker 2: I want you to start to see what everyone else
Speaker 2: is dependent on as well. So it's the products that
Speaker 2: everyone is using, like are you shopping at Target or
Speaker 2: are you shopping at Walmart. I just want you to
Speaker 2: look at the companies that you solely depend on and
Speaker 2: that everyone else does as well. I don't want you
Speaker 2: to try and find the next big thing that becomes
Speaker 2: a little bit more challenging and riskier. You want to
Speaker 2: invest into companies that you use, that you consume, and
Speaker 2: then I want you to look at it like building
Speaker 2: a pantry. So think of your pantry. And I don't
Speaker 2: recommend that you try to invest in a ton of
Speaker 2: different companies. I want you to stay focused and look
Speaker 2: at it as like Geksa. So let's think of something
Speaker 2: very simple, like one company look at it as like Aros.
Speaker 2: Another company look at it as fri Holos. Another company
Speaker 2: look at it as Dorthias, and every month comps Una tortilla,
Speaker 2: month after month after month, and then eventually you're going
Speaker 2: to have una. Oh Yeahros Dortias, you know, to serve
Speaker 2: not just for you, but for your entire families. So
Speaker 2: that's kind of the way I want folks to look
Speaker 2: at it. It's companies that we consume and that we
Speaker 2: know we can't live without.
Speaker 1: That is perfect because I love food and I'm a
Speaker 1: very visual person. So now I could be like get
Speaker 1: and I'm gonna turn that into a freaking feast.
Speaker 3: Yes, that's like an.
Speaker 1: Awesome way of like okay, cool, you got meh Okay,
Speaker 1: that's awesome.
Speaker 3: Okay.
Speaker 1: Is there a good or a bad time to start
Speaker 1: or or to buy stock.
Speaker 2: There's a great time to buy stock, and it's typically
Speaker 2: when the market is down, and so we only get
Speaker 2: those opportunities every ten years. We're in one of those
Speaker 2: opportunities right now. So typically the stock market will crash
Speaker 2: every ten years. We just recently had a crash. We
Speaker 2: had two back to back crashes during COVID because of
Speaker 2: the pandemic and then again because of the war with
Speaker 2: Ukraine and Russia, and so the stock market comes down.
Speaker 2: You have to look at it as like these companies
Speaker 2: are a lot cheaper than what they were a few
Speaker 2: years ago, so you're starting to buy them at a
Speaker 2: cheaper price, and then we can anticipate for the stock
Speaker 2: market to begin its recovery, which it has. It's been
Speaker 2: a year almost in October that it has been recovering.
Speaker 2: And we can anticipate based on historical patterns that it
Speaker 2: will continue to grow in the next ten years. So
Speaker 2: this is actually one of the best times to get
Speaker 2: started on your investing journey and understanding the process of
Speaker 2: the market and remembering that it's not a sprint, it's
Speaker 2: a marathon. And you know, I'm working diligently to create
Speaker 2: resources so that we can understand and digest the information
Speaker 2: from a completely different perspective, from a child of immigrants,
Speaker 2: from someone that was deep in scarcity mindset that I
Speaker 2: work to overcome that on a day to day basis.
Speaker 1: Do you think because you still started how long ago
Speaker 1: you said investing in the stock market?
Speaker 2: I started in twenty thirteen, so ten years ago.
Speaker 1: Okay, ten years ago, and do you think things have changed?
Speaker 1: You think it's still possible to do what you did,
Speaker 1: like invest the amount that you've invested and made the
Speaker 1: amount that you've made absolutely always.
Speaker 2: So you know, someone that we are really familiar with
Speaker 2: in terms of the amount of wealth that they have
Speaker 2: is Warren Buffett. When he started when he was eleven
Speaker 2: years old investing in the stock market, and so that's
Speaker 2: what's gotten him to where he is today. And he
Speaker 2: started with McDonald's, Johnson and Johnson and Coca Cola, and
Speaker 2: so he still holds a lot of those investments to
Speaker 2: this day. And so I want us to look at
Speaker 2: the stock market as an opportunity for us to invest
Speaker 2: in America. That's something that Warren Buffett always says, like,
Speaker 2: why wouldn't you want to own a piece of America,
Speaker 2: one of the biggest, most wealthiest countries in the world.
Speaker 2: We'd want to own the companies that have come out
Speaker 2: of this country. So I foresee the stock market being
Speaker 2: a viable investment for centuries generations to come. I think
Speaker 2: what holds us back is definitely the lack of knowledge.
Speaker 2: Like we're not taught these things in school. Most of
Speaker 2: the stock market education is generational knowledge, which is equivalent
Speaker 2: to generational wealth.
Speaker 4: It's really interesting for me.
Speaker 2: I have a seven year old son and then I
Speaker 2: have my twenty nine year old daughter that I had
Speaker 2: when I was a teen, and I've gotten to see
Speaker 2: the difference in the way both of them think. Don't
Speaker 2: get me wrong, my daughter is incredible. She owns the school,
Speaker 2: She's very successful in her own right. I'm very proud
Speaker 2: of her.
Speaker 3: And you should be. I'm like, my eyes are cheering up.
Speaker 3: This is amazing. Okay, it's because I'm so sorry.
Speaker 1: This is coming from like where you came from and
Speaker 1: you had her at fourteen, like this is this is
Speaker 1: amazing and you should be so proud of yourself, like
Speaker 1: it just girl, Oh my god.
Speaker 3: We have to go to dinner anyways, go ahead.
Speaker 4: Let's do it. Meet you and Patty. We gotta make
Speaker 4: it happy. Yes, yes, yeah, So.
Speaker 2: You know, I've gotten to see the way she has
Speaker 2: moved through life and navigated it in her struggles where
Speaker 2: my son is in a completely different world. He was
Speaker 2: watching a wrestling movie and in the movie there was
Speaker 2: this man that goes into the restaurant to hold up
Speaker 2: to like steal the money from the cash register, using
Speaker 2: his finger and hiding his hand over his jacket. My
Speaker 2: son pauses the movie and says, I feel so bad
Speaker 2: for him. And I was like the guy getting robbed,
Speaker 2: the kid under the table, Like who do you feel
Speaker 2: bad for? And he's like, I feel bad for the
Speaker 2: man that is robbing the restaurant. And I was like why.
Speaker 2: He's like, because he's just looking for money, and I
Speaker 2: was like, yeah, you're right, Yeah, he is just looking
Speaker 2: for money. And he's like and he doesn't know where
Speaker 2: to get money, and I was like, and where do
Speaker 2: you get money?
Speaker 4: And he's like the stock market. He was three.
Speaker 3: I gotta love it.
Speaker 4: I love that.
Speaker 2: So and that's what I mean, right, is like that's
Speaker 2: generational wealth. Like I might think, oh, no, miss that
Speaker 2: lacion or not. He doesn't know what's going on in
Speaker 2: my life, but he was three years old and able
Speaker 2: to understand that you get money from the stock market,
Speaker 2: and so I.
Speaker 4: Think, like that's also generational wealth.
Speaker 2: Is like the knowledge that we acquire and the things
Speaker 2: that we start paying attention to will be the things
Speaker 2: that our children pay attention to. Just like a lot
Speaker 2: of us that are children of immigrants and watched our parents.
Speaker 4: Work really hard.
Speaker 2: Our perception of making money is a lot different than
Speaker 2: someone that didn't break their back or hurt their mental
Speaker 2: health trying to put food on the table. So I
Speaker 2: think this education is really important for our communities.
Speaker 1: Absolutely, And I think that's what it is, lack of
Speaker 1: it information because so many people are afraid but because
Speaker 1: they don't know, you know, but I want demos, Like
Speaker 1: it's like I don't want to seem dumb, so I'd
Speaker 1: rather not ask, you know. And it's like, no, there's
Speaker 1: so much power in asking questions and informing yourself. I'm
Speaker 1: so happy about that that we're able to talk about this.
Speaker 1: And what do you think is like like initially so
Speaker 1: confusing about the stock market?
Speaker 2: Oh, it has its own language. It's like speaking a
Speaker 2: foreign language. There's so many terms and abbreviations.
Speaker 4: There's so much.
Speaker 2: But I put a glossary in the back of the book.
Speaker 2: I break things down with analogies. I help you process
Speaker 2: and understand. I paint the picture for you so that
Speaker 2: you can really grasp what they're saying. I refuse that
Speaker 2: we not participate in the stock market because we don't
Speaker 2: understand the language. And so that's why it was so
Speaker 2: important for.
Speaker 4: Me to begin teaching this.
Speaker 2: You know, the book is in libraries, it's a resource,
Speaker 2: it's accessible. We no longer can say like that we
Speaker 2: don't have the resources because I'm working really hard to
Speaker 2: create those on a day to day basis amazing.
Speaker 1: I love it, and I love the colors that you chose,
Speaker 1: and it just it's fun. And do you recommend companies
Speaker 1: where they have financial advisors and then they say, Okay,
Speaker 1: how much money do you want to put in the
Speaker 1: stock market? Do you recommend something like that, or is
Speaker 1: it just better to do it yourself. So this is
Speaker 1: a really great question. I love this question.
Speaker 2: This is going to be different for different folks depending
Speaker 2: on the budget that you have, because sometimes financial advisors
Speaker 2: require for you to have a certain amount of money
Speaker 2: to begin investing, so you have the liberty to do it.
Speaker 4: On your own.
Speaker 2: But if you want to have a financial advisor, I
Speaker 2: think that that's great as well. And here is my
Speaker 2: perspective on this. Everyone has money wounds, everyone has fears
Speaker 2: on different scales. Right, it looks different for everybody. So
Speaker 2: I just want you to understand that when you have
Speaker 2: a financial advisor, just because they're a financial advisor, that
Speaker 2: doesn't mean that they don't have their own money stories
Speaker 2: and their own fears. So they may be making decisions
Speaker 2: on your money that is right for them, and it
Speaker 2: may not necessarily be right for you. But if you
Speaker 2: don't understand the stock market at all, you might not
Speaker 2: even know what is right for you. I get so
Speaker 2: many messages from folks that read my book and then
Speaker 2: come back and say, I asked my financial advisor about
Speaker 2: all these things I was learning, and my financial advisors like,
Speaker 2: how did you know that?
Speaker 4: How who's talking to you? Who else are you talking to?
Speaker 2: And they're like, I just read your book, you know,
Speaker 2: And so I think this is good for us to
Speaker 2: know what financial advisors are doing with our money and
Speaker 2: find one that is right for you. The book arms
Speaker 2: you in order to have a strong dialogue and question
Speaker 2: what they're doing and understand what they're doing with your money.
Speaker 1: Is there anything else, Linda, that you would like to
Speaker 1: like that we didn't talk about that you would like
Speaker 1: to add?
Speaker 3: Is there something that I a question I missed?
Speaker 2: I think we pretty much covered it all. I think,
Speaker 2: if anything, what I would like to share is touching
Speaker 2: on the being positive. It's important for us to understand
Speaker 2: that we are capable of doing so much more than
Speaker 2: we understand at this current moment in time, and that
Speaker 2: everything that is around you right now in this moment,
Speaker 2: every article, whether it's our clothing, the chair that you're
Speaker 2: sitting on, the cup at your desk, the headphones, whatever
Speaker 2: it is, all of that was a thought in someone's mind.
Speaker 2: That was a thought, and so everything starts as a thought.
Speaker 2: Without our thoughts, there is no money. So at the
Speaker 2: core of money, at the core of currency, is only
Speaker 2: our thoughts.
Speaker 4: Without us.
Speaker 2: Money doesn't exist like money exists because we think and
Speaker 2: then we turn what we think into something that creates
Speaker 2: value in other people's lives and then generates money. So
Speaker 2: at the core of what I want you to take
Speaker 2: away from today is to understand that your mind is unlimited.
Speaker 2: Despite of your circumstances where you come from, how much
Speaker 2: money you have or you don't have, Everything you need
Speaker 2: is within your mind. And so the stock market, for me,
Speaker 2: is just a component to help the money that you've
Speaker 2: brought in, to help you multiply that money in different
Speaker 2: ways and perceive money from a completely different space. And
Speaker 2: so I don't want for anyone to walk away from
Speaker 2: this to think that the stock market is not for them.
Speaker 2: It is absolutely for you. And the knowledge that comes
Speaker 2: with understanding the stock market is priceless. It is priceless
Speaker 2: because you're getting to understand business from a completely different perspective.
Speaker 2: Like most of the publicly traded companies are companies that
Speaker 2: are to some extent dictating our lives and the technology
Speaker 2: that we use and how we move on a day
Speaker 2: to day basis, and getting to understand how these companies
Speaker 2: work as an investor in these companies is so valuable.
Speaker 2: So I think, if anything, I would just like for
Speaker 2: folks to take that away, that it's not just about
Speaker 2: learning about the stock market. It's a much more deeper
Speaker 2: experience that happens internally with our money mindset and then
Speaker 2: is reflected in money form in our portfolio.
Speaker 3: In our part.
Speaker 1: Yeah, and so it's safe to say that you truly
Speaker 1: believe that manifestation or spirituality, whatever you want to call it,
Speaker 1: is definitely connected to your wealth. Like it's all, it's
Speaker 1: all intertwined.
Speaker 2: It is a reflection, and it's so hard for us
Speaker 2: to sometimes come to terms with that because we've seen
Speaker 2: so much scarcity or injustice in marginalized communities. But when
Speaker 2: we continue to focus on that versus focus on our
Speaker 2: internal power and what we can create, then that's what's
Speaker 2: going to be manifested for ourselves and our lives. I
Speaker 2: really truly believe that the amount of money that we
Speaker 2: bring in and that we have is a reflection of
Speaker 2: how much we value ourselves internally, and the faster that
Speaker 2: we can come to terms with that realization, the faster
Speaker 2: that we can value ourselves even more and ask for
Speaker 2: higher paying wages at our jobs as latinas and demand
Speaker 2: for what we deserve.
Speaker 1: Yes, it's valuing ourselves and giving us our place, you know.
Speaker 1: And what I always tell you guys, knowledge is power,
Speaker 1: you know, and this is a great way. Like for me,
Speaker 1: I'm going to definitely read this book because it's something
Speaker 1: that I've been thinking about for a long time, but
Speaker 1: I've been too afraid.
Speaker 3: That's just the truth, and that's what it is.
Speaker 1: Like the more knowledge you have about a certain subject,
Speaker 1: the more confident you feel about speaking about it, about
Speaker 1: doing it, about taking that step. You completely change my
Speaker 1: mindset and the perspective that I had on the stock market,
Speaker 1: like in just this conversation, so I could just imagine
Speaker 1: reading and finishing the book. So honestly, thank you, thank
Speaker 1: you so much.
Speaker 3: Before you go.
Speaker 1: You have a podcast called Investies.
Speaker 2: Yeah, thank you so much for sharing your platform and
Speaker 2: being so generous. Investies is a passion project with myself
Speaker 2: and another production company where we break down economics and
Speaker 2: the stock market and very easy terms. I give definitions.
Speaker 2: I don't just speak at you. I'm speaking to you
Speaker 2: and explaining what is happening in the economy and with
Speaker 2: the stock market. It's super short, eight to twenty minutes long,
Speaker 2: depending on what type of news is happening. We also
Speaker 2: like to, you know, keep it real and infuse some
Speaker 2: spirituality in there, because you know, we're spiritual beings and
Speaker 2: money spiritual.
Speaker 3: I love it. Oh my goodness, I'm so good.
Speaker 1: I'm gonna listen to it, you guys, listen to investies
Speaker 1: and listen to Cheeky's and chill. Okay, okay, and you're book. Okay,
Speaker 1: so the book is called again you guys. Wealth Warrior
Speaker 1: Eight Steps for Communities of Color to Conquer the Stock Market.
Speaker 1: Can you share your your socials with us?
Speaker 2: Yes, absolutely so you can find me on Instagram at
Speaker 2: Lou's Warrior.
Speaker 1: Luz Okay, awesome, all right, yes, so Loose Warrior. You
Speaker 1: guys follow her. I hope that you guys enjoyed this episode. Linda,
Speaker 1: You've been amazing. Thank you for what you're doing for
Speaker 1: the world, for our community, for making it so easy
Speaker 1: to understand. I think this is what we all needed.
Speaker 1: And I'm super inspired. I really am an inspired to
Speaker 1: like go and invest you know in where we live,
Speaker 1: and we deserve it, you guys, We deserve to own
Speaker 1: a piece of America. Honestly, you put it in the
Speaker 1: best way and you guys before you go. You know,
Speaker 1: I always have my motivational quote, and the motivational quote
Speaker 1: for the day is wealth consists not in having great possessions,
Speaker 1: but in having few wants another one. The goal is
Speaker 1: it more money. The goal is financial. Them those I
Speaker 1: thought were great for today's you know subject and what
Speaker 1: we're talking about. And again, Linda Quelina like, I love
Speaker 1: this conversation and I hope you enjoyed it too. So
Speaker 1: thank you guys so much. Thank you for listening to
Speaker 1: this episode. And yeah, it's definitely gonna be one that
Speaker 1: I'm going to listen to over and over all. Right, guys,
Speaker 1: thank you, thank you. Do you need advice on love, relationships,
Speaker 1: health emails? I'm so excited to share with you that
Speaker 1: my Cheeky's and Chill podcast will have an extra episode
Speaker 1: drop each week. I'll be answering all your questions. Just
Speaker 1: leave me a voice message. All you have to do
Speaker 1: is go to speak pipe dot com slash Cheekys and
Speaker 1: Chill Podcast and record your questions.
Speaker 3: I can't wait to hear from you.
Speaker 1: This is a production of iHeartRadio and the Microdura podcast Network.
Speaker 1: Follow us on Instagram at Michael Dura podcasts and follow
Speaker 1: me Cheeky's That's c h i q u i s.
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