WEBVTT - Beginner’s Guide to Investing Your Money 0:00:00.080 --> 0:00:03.160 Follow Cheeky's and Chill on Amazon Music. Just head to 0:00:03.200 --> 0:00:06.400 Amazon dot com slash Cheeky's and check out even more 0:00:06.480 --> 0:00:10.320 podcasts by Mike Utura throughout Hispanic Heritage month. Listen to 0:00:10.360 --> 0:00:13.320 my latest episode of Cheekys and Chill on Amazon Music. 0:00:13.480 --> 0:00:17.200 At Amazon dot com slash Cheeky's and listen to Cheeky's 0:00:17.200 --> 0:00:20.239 and Chill on Amazon Music, or ask Alexa to play 0:00:20.320 --> 0:00:26.120 Cheeky's and Chill on Amazon Music. What do you think 0:00:26.200 --> 0:00:28.920 is like initially so confusing about the stock market. 0:00:29.960 --> 0:00:32.919 I really truly believe that the amount of money that 0:00:33.000 --> 0:00:35.880 we bring in and that we have is a reflection 0:00:36.400 --> 0:00:40.560 of how much we value ourselves. There was this deep 0:00:40.920 --> 0:00:43.519 desire for me to one day have a house that 0:00:43.600 --> 0:00:45.800 looked like the ones my mom used to clean. 0:00:51.120 --> 0:00:51.400 Hello. 0:00:51.440 --> 0:00:54.560 Hello, Happy Monday everyone. I hope you all had a 0:00:54.600 --> 0:00:57.200 really great September and are ready for October. 0:00:57.480 --> 0:00:59.840 Oh, my favorite season, you guys. I love it. I 0:01:00.120 --> 0:01:01.960 love anything punkin and. 0:01:01.960 --> 0:01:05.280 Just excited about the fall and feeling a little like, 0:01:05.880 --> 0:01:08.560 I don't know, fall and winter are my favorite you guys. Anyways, 0:01:08.560 --> 0:01:11.600 on today's episode, we're going to talk about the stock market. 0:01:12.160 --> 0:01:14.880 I know this topic can be a little intimidating, which 0:01:14.880 --> 0:01:16.479 is why I'm excited for all of you to meet 0:01:16.520 --> 0:01:19.759 today's guest. She's really great at explaining the stock market 0:01:19.800 --> 0:01:22.480 and teaching us about how we can use it to 0:01:22.560 --> 0:01:25.280 build wealth. So get ready, this is a good one. 0:01:25.400 --> 0:01:30.400 This is cheeky's and chill. So before we introduce today's guest, 0:01:30.600 --> 0:01:32.560 I just want to give you guys a little disclaimer. 0:01:32.840 --> 0:01:35.720 This episode is meant to be helpful and informative, but 0:01:35.800 --> 0:01:39.959 it's not meant to be taken as professional financial advice. Okay, 0:01:40.000 --> 0:01:42.199 So now that that's out of the way, today's special 0:01:42.240 --> 0:01:46.280 guest is Linda Garcia. She's a brilliant financial educator who 0:01:46.319 --> 0:01:49.800 works to empower communities of color. She's also the host 0:01:49.880 --> 0:01:52.400 of the podcast Investees and the author of the book 0:01:52.680 --> 0:01:56.320 Wealth Warrior, Eight Steps for Communities of Color to Conquer 0:01:56.400 --> 0:02:00.680 the Stock Market. Linda, welcome it is it's so nice 0:02:00.760 --> 0:02:02.880 to finally meet you. I've heard so many great things 0:02:02.920 --> 0:02:05.720 about you. We have mutual friends actually too. 0:02:06.320 --> 0:02:08.920 Thank you for having me and opening up your space 0:02:09.040 --> 0:02:10.160 to this conversation. 0:02:11.000 --> 0:02:12.320 No, of course, I'm excited. 0:02:12.400 --> 0:02:14.360 I think this is something that we definitely need to 0:02:14.360 --> 0:02:17.800 talk about more in our communities. Especially as Latina as 0:02:18.000 --> 0:02:20.399 we at least for me, well, my mom was kind 0:02:20.400 --> 0:02:22.720 of good with showing me how to save money and 0:02:22.720 --> 0:02:23.200 stuff like that. 0:02:23.240 --> 0:02:25.200 I just didn't listen. Now I'm better because I learned 0:02:25.200 --> 0:02:25.560 the hard way. 0:02:25.639 --> 0:02:27.239 But anyways, I did want to ask you a little 0:02:27.280 --> 0:02:30.280 bit more about you about your background, because I think 0:02:30.320 --> 0:02:31.960 it's really interesting. A lot of people are like, oh, 0:02:32.000 --> 0:02:35.160 my god, she's successful, and they don't really see the 0:02:35.200 --> 0:02:37.799 struggle behind that. They think, oh, her life must have 0:02:37.880 --> 0:02:40.760 been so easy, and that wasn't necessarily the case for you. 0:02:40.760 --> 0:02:42.960 You know, you were a mother at fourteen years old, 0:02:43.040 --> 0:02:43.600 is that correct? 0:02:44.360 --> 0:02:47.520 Yeah, at fourteen years old, I became a mother. 0:02:47.840 --> 0:02:50.799 I was also in gangs. 0:02:51.040 --> 0:02:51.920 I was just. 0:02:52.120 --> 0:02:56.239 Living a life that was very challenging. Did I stopped 0:02:56.240 --> 0:02:59.120 living with my parents at twelve years old, and it 0:02:59.200 --> 0:03:03.440 was just extreme difficult. Like I truly became the definition 0:03:03.480 --> 0:03:05.560 of a statistic. I feel like that was much more 0:03:05.560 --> 0:03:09.239 common back in the nineties, like, oh, she's a statistic, 0:03:09.400 --> 0:03:12.600 and you kind of get discarded in your family and 0:03:13.040 --> 0:03:17.240 extended family and even in society. So that was extremely 0:03:17.320 --> 0:03:20.240 difficult for me to go through as just a human being, 0:03:20.280 --> 0:03:23.520 as a child, and to think that I was no 0:03:23.639 --> 0:03:27.040 longer going to amount to anything because I, you know, 0:03:27.320 --> 0:03:32.200 had a child. Was disheartening, and so I lived a 0:03:32.240 --> 0:03:36.440 pretty rough experience. I had positive influences in my life, 0:03:36.480 --> 0:03:40.040 which became my teachers who really nurtured me in high school. 0:03:40.360 --> 0:03:42.640 I even lived with one of my teachers at one 0:03:42.680 --> 0:03:43.560 point in time. 0:03:44.280 --> 0:03:45.640 And it's really. 0:03:45.360 --> 0:03:49.440 Because of them that I attribute the woman that I've 0:03:49.440 --> 0:03:52.480 become today, completely because of my teachers. 0:03:53.120 --> 0:03:57.400 Yeah, that's awesome because your parents were also immigrants, right, Yes, 0:03:57.800 --> 0:04:01.000 so you have literally you've worked your way and you've 0:04:01.040 --> 0:04:02.440 worked very hard to get to this point. 0:04:02.760 --> 0:04:06.040 Yes, and I feel like it's still a lot of work. 0:04:06.120 --> 0:04:09.480 I mean even today just I really love economics and 0:04:09.520 --> 0:04:12.720 I love learning about what is taking place and the 0:04:12.800 --> 0:04:16.280 economy just to understand and process how we can navigate 0:04:16.320 --> 0:04:20.520 the future in a much more strategic way. And even 0:04:20.640 --> 0:04:24.200 just like today listening to the economy because we just 0:04:24.240 --> 0:04:27.159 got notified that there will be a pause on rate hikes. 0:04:27.160 --> 0:04:30.719 We're trying to tackle inflation for the country, and I'm 0:04:30.760 --> 0:04:34.000 like listening to these people speak and I'm really trying 0:04:34.080 --> 0:04:37.680 to keep up, and I'm like, wow, they're so far ahead, 0:04:37.760 --> 0:04:40.599 and a lot of them, look my age, and will 0:04:40.640 --> 0:04:42.080 I ever be that intelligent? 0:04:42.200 --> 0:04:44.000 Like, there's still so much work. 0:04:43.880 --> 0:04:46.040 That goes into what I do on a day to 0:04:46.120 --> 0:04:48.760 day basis. But I have to remind myself that I'm 0:04:48.800 --> 0:04:51.960 on my own journey and that I'm not less intelligent. 0:04:52.160 --> 0:04:55.120 I'm just learning at this point in time, and there's 0:04:55.160 --> 0:04:56.719 still a lot of room ahead. 0:04:57.760 --> 0:04:59.760 The thing that I tell people all the time is 0:04:59.760 --> 0:05:02.360 not to to compare yourself to other people and their 0:05:02.360 --> 0:05:04.479 growth and their progress. You know, to focus, and sometimes 0:05:04.520 --> 0:05:06.360 it's a little hard. It's hard not to, but that 0:05:06.480 --> 0:05:08.640 you have to remind yourself like, it's okay, We're still 0:05:08.720 --> 0:05:09.880 learning day by day. 0:05:10.400 --> 0:05:11.160 The good thing is. 0:05:11.120 --> 0:05:14.520 That there's that desire. We're striving to want to be 0:05:14.520 --> 0:05:17.880 better in every way. When did this love for the 0:05:17.920 --> 0:05:21.640 stock market or learning about generational wealth even all of this, 0:05:21.680 --> 0:05:24.000 Where did it come from? Yeah? 0:05:24.080 --> 0:05:27.599 I grew up watching my mom clean houses. She cleaned 0:05:27.600 --> 0:05:30.919 houses mainly in Laguna Beach, and so I had so 0:05:31.040 --> 0:05:34.640 much exposure to a lot of money via going with 0:05:34.680 --> 0:05:38.400 her to going to clean houses. There was this deep 0:05:38.760 --> 0:05:41.400 desire for me to one day have a house that 0:05:41.440 --> 0:05:44.360 looked like the ones my mom used to clean, or 0:05:44.520 --> 0:05:48.200 have celebrations and Christmas dinners or Thanksgivings and the way 0:05:48.240 --> 0:05:51.039 that they celebrated, like I just watched them with my 0:05:51.120 --> 0:05:55.160 mom working, and I wanted that for myself. It wasn't 0:05:55.240 --> 0:05:59.240 until after I had my daughter that I really had 0:06:00.000 --> 0:06:03.600 strong ambition. There's something to be said about being a mother. 0:06:03.720 --> 0:06:07.360 It's almost like it unleashes like a lioness. And even 0:06:07.400 --> 0:06:09.880 though I was young, it unleashed that for me, and 0:06:09.960 --> 0:06:13.960 so I had again that deep seated ambition to become 0:06:14.080 --> 0:06:17.120 something and do something for my daughter and myself and 0:06:17.120 --> 0:06:19.800 not repeat some of the same stories of the way 0:06:19.880 --> 0:06:25.720 I grew up. And so I began to study wealth overall, 0:06:25.760 --> 0:06:29.120 like I started to look at patterns and just research 0:06:29.240 --> 0:06:32.000 like how did this person get rich? And mostly everyone 0:06:32.040 --> 0:06:34.960 I was researching was, of course the way we say old, 0:06:35.080 --> 0:06:38.479 pale and stale, and so it was just like, you know, 0:06:38.839 --> 0:06:43.120 all these older white men, and I started to see 0:06:43.160 --> 0:06:46.799 a pattern, which was every time there was economic hardship 0:06:46.920 --> 0:06:50.760 like a recession, that was when their wealth would multiply 0:06:51.440 --> 0:06:55.560 a crazy amount. And so I started to really focus 0:06:55.680 --> 0:06:59.240 on that, on those types of patterns. And then I 0:06:59.320 --> 0:07:03.000 began to work at Netflix, and I had a white 0:07:03.040 --> 0:07:06.760 colleague that began educating me on the stock market, and 0:07:06.960 --> 0:07:09.920 I started to understand that there was an opportunity there 0:07:10.160 --> 0:07:14.920 for me to begin investing and growing my money in 0:07:14.960 --> 0:07:17.600 that way. And so I started to do that, and 0:07:17.640 --> 0:07:20.200 I opened up about my investing. One of my good friends, 0:07:20.200 --> 0:07:23.080 Patti Rodriguez, we were just at the start of our 0:07:23.120 --> 0:07:26.560 careers back in twenty twelve, and we would talk about 0:07:26.600 --> 0:07:29.400 the stock market. We had another friend named Brisia as well, 0:07:29.560 --> 0:07:32.320 and the three of us would just strategize. Then I 0:07:32.440 --> 0:07:35.280 just became a student of the market. I ended up 0:07:35.520 --> 0:07:38.679 investing a total of nine thousand dollars. Those nine thousand 0:07:38.760 --> 0:07:42.240 dollars turned into half a million dollars. The amount that 0:07:42.280 --> 0:07:45.200 I was investing was an amount that I could process. 0:07:45.240 --> 0:07:48.160 It was two hundred dollars a month. And so I 0:07:48.440 --> 0:07:52.840 was shocked that we never use the stock market as 0:07:52.840 --> 0:07:55.400 a vehicle to grow wealth. We think of real estate, 0:07:56.400 --> 0:08:00.600 we think of entrepreneurship, but we rarely think of about 0:08:00.760 --> 0:08:03.160 the stock market. And so I started to do more 0:08:03.160 --> 0:08:06.280 and more research, and I began to understand that only 0:08:06.360 --> 0:08:11.080 fifteen percent of Americans actually hold direct stock. 0:08:11.200 --> 0:08:13.640 Only fifteen per Wow, that's crazy. 0:08:13.840 --> 0:08:17.560 And out of those fifteen percent, it's the top ten 0:08:17.640 --> 0:08:21.680 percent most wealthiest people in the country, so a lot 0:08:21.720 --> 0:08:24.480 of people don't have access to stock. 0:08:24.520 --> 0:08:25.360 It's intimidating. 0:08:25.400 --> 0:08:27.840 Even when you open the conversation, you're like, it gives 0:08:27.920 --> 0:08:31.400 you anxiety, you know, yeah, and that's normal. 0:08:32.080 --> 0:08:35.080 Okay, So I think you and I need to have 0:08:35.120 --> 0:08:37.800 like an even longer conversation just so we could sit down. 0:08:37.840 --> 0:08:39.400 And I really I think I'm gonna need your help 0:08:39.440 --> 0:08:43.400 in my life because you're right. I think, Okay, we 0:08:43.480 --> 0:08:45.880 grow up in gon Bratucasa. You need to buy your 0:08:45.880 --> 0:08:48.600 house and that's where and yes, yes, that's I think 0:08:48.640 --> 0:08:51.760 that that's great. But I've been intimidated is the word 0:08:51.960 --> 0:08:54.480 to invest and put my money in the stock market, 0:08:54.880 --> 0:08:58.080 and thank goodness for you. Now I'm like okay, and 0:08:58.120 --> 0:09:00.440 I'm hoping our listeners as well are kind of like okay. 0:09:00.440 --> 0:09:02.680 Even if it doesn't have to be a large, large amount, 0:09:02.720 --> 0:09:04.160 it could be. Like you said, you started with nine 0:09:04.200 --> 0:09:06.320 thousand dollars, which is still a lot for a lot 0:09:06.360 --> 0:09:09.360 of people, but still can you start with one thousand dollars? 0:09:10.120 --> 0:09:12.760 Yes, And so I want to be very clear as well, 0:09:12.840 --> 0:09:14.839 it was two hundred dollars a month. 0:09:14.760 --> 0:09:17.040 How I started, So Okay, yes. 0:09:16.920 --> 0:09:19.959 The nine thousand was over the span of three years, 0:09:20.320 --> 0:09:24.040 but I was just investing little chunks every single month 0:09:24.120 --> 0:09:27.480 and being consistent. I think the biggest message I want 0:09:27.520 --> 0:09:29.720 to convey, and I think to bring you a little 0:09:29.760 --> 0:09:32.560 bit at ease Cheeky's, is like, it's really easy for 0:09:32.720 --> 0:09:36.000 us to walk into an Apple store and purchase a phone, 0:09:36.280 --> 0:09:39.920 purchase a computer, air pods, whatever the case may be. 0:09:40.080 --> 0:09:44.200 We are not afraid to walk into Apple and purchase products. 0:09:44.200 --> 0:09:47.360 For the most part, right we understand that we can 0:09:47.880 --> 0:09:51.000 use those products as an investment and start a business 0:09:51.400 --> 0:09:54.520 off of our phone. We understand the value of it. 0:09:54.640 --> 0:09:57.520 And so the way I want folks to start looking 0:09:57.600 --> 0:10:00.440 at the stock market is in the same way. I 0:10:00.520 --> 0:10:03.679 want you to not just be a consumer of the products, 0:10:03.960 --> 0:10:06.719 because we are some of the biggest consumers in our 0:10:06.760 --> 0:10:10.040 community in the United States. I want you to start 0:10:10.040 --> 0:10:13.040 to look at the opportunity of being a shareholder and 0:10:13.160 --> 0:10:16.679 owning a piece of Apple as well as purchasing the 0:10:16.760 --> 0:10:21.040 product and then getting the benefit of the stock increasing 0:10:21.080 --> 0:10:25.200 in value and then your investment increasing in value. It's 0:10:25.240 --> 0:10:28.760 easy for us to think about purchasing a home because 0:10:29.200 --> 0:10:32.960 our ancestors, our family members, our community members have all 0:10:33.040 --> 0:10:36.400 broken the barriers of doing that. It's a common experience 0:10:36.440 --> 0:10:39.040 for us to purchase a home, but it's also still 0:10:39.320 --> 0:10:43.280 very challenging for folks to save twenty percent. Real estate 0:10:43.360 --> 0:10:47.120 is very expensive in places like California and New York, 0:10:47.480 --> 0:10:50.440 and you have to have a stable job for two 0:10:50.520 --> 0:10:54.679 years and have credit. There's all of these barrier to entry. 0:10:54.760 --> 0:10:57.840 In order to get started with the stock market, all 0:10:57.880 --> 0:11:01.719 you need is your Social Security number, you open an account, 0:11:01.920 --> 0:11:05.120 and then you can start building your portfolio and start 0:11:05.160 --> 0:11:06.160 building assets. 0:11:06.440 --> 0:11:08.080 It's really that simple. 0:11:08.480 --> 0:11:12.280 Owning a house requires more effort on your part than 0:11:12.640 --> 0:11:13.360 purchasing a. 0:11:13.360 --> 0:11:17.120 Stock Okay, so the first step for sure is open 0:11:17.160 --> 0:11:17.760 an account. 0:11:18.400 --> 0:11:21.760 Yeah, so that's the first step in action, and I 0:11:21.840 --> 0:11:23.160 go through that in my book. 0:11:23.360 --> 0:11:24.800 I lay it out really easily. 0:11:24.840 --> 0:11:27.319 I even go through the steps of how to open 0:11:27.320 --> 0:11:29.760 the account, how to fill out the form. I just 0:11:29.920 --> 0:11:32.120 lay it out so that you can do it like 0:11:32.160 --> 0:11:35.280 you can execute it. At the core of all of 0:11:35.320 --> 0:11:38.160 this work, so the very first step before you open 0:11:38.200 --> 0:11:40.280 the account, I want you to be aware of the 0:11:40.360 --> 0:11:43.120 emotional work that you're going to do as you move 0:11:43.200 --> 0:11:46.760 through the process. Because we can take in all of 0:11:46.800 --> 0:11:50.240 the financial literacy, whether it's to buy real estate or 0:11:50.280 --> 0:11:52.640 to buy stocks, or how to invest or save for 0:11:52.679 --> 0:11:55.640 a retirement. All we want, but if we're not focusing 0:11:55.800 --> 0:11:59.559 on our mindset and our scarcity, then it's going to 0:11:59.600 --> 0:12:02.440 be real, really difficult for us to really be able 0:12:02.480 --> 0:12:06.640 to multiply our money in ways that we've never imagined. 0:12:06.760 --> 0:12:10.160 If we fear losing money, if we're emotionally attached and 0:12:10.720 --> 0:12:14.440 fear investing into ourselves or into anything else, that's going 0:12:14.520 --> 0:12:16.920 to be our biggest roadblock. And for so many of 0:12:17.000 --> 0:12:21.040 us child of immigrants, it's easy for us to get 0:12:21.080 --> 0:12:25.199 caught up in scarcity or fears of their. 0:12:25.080 --> 0:12:26.720 Not being enough outside of us. 0:12:26.760 --> 0:12:29.280 So I always like to share that the first most 0:12:29.320 --> 0:12:33.559 important step is going to be working on your money stories, 0:12:33.840 --> 0:12:37.080 your money wounds, and that's what I go over in 0:12:37.120 --> 0:12:40.400 the first chapter of the book. I find it really 0:12:40.440 --> 0:12:43.679 important to cover that first, especially from where we come 0:12:43.720 --> 0:12:46.360 from and not having these types of opportunities and being 0:12:46.400 --> 0:12:50.080 intimidated from participating in the stock market, so all of 0:12:50.080 --> 0:12:51.600 that is really important. 0:12:52.440 --> 0:12:56.280 I absolutely love that because I'm a firm believer in 0:12:57.200 --> 0:13:00.199 what you think, what you say, it's what you attract, 0:13:00.240 --> 0:13:02.439 you know, so it's all literally mind, body and soul. 0:13:02.920 --> 0:13:04.720 Where do we go to set up an account to 0:13:04.760 --> 0:13:08.000 start trading? Is there like a minimum amount as well? 0:13:08.440 --> 0:13:09.160 Great question. 0:13:09.400 --> 0:13:13.600 So it's really important for me to convey that I 0:13:13.640 --> 0:13:18.400 would like for folks to stay away from online platforms, 0:13:18.440 --> 0:13:21.040 so to speak. When I say online platforms, I mean 0:13:21.120 --> 0:13:25.240 like Robinhood type platforms. I've been saying this for a 0:13:25.280 --> 0:13:29.840 really long time for years now. They really target people 0:13:29.880 --> 0:13:32.440 of color. There's a lot of things that have gone 0:13:32.480 --> 0:13:36.840 wrong with that company in terms of giving people accounts 0:13:36.920 --> 0:13:39.760 that were not the right accounts for the person. They've 0:13:39.760 --> 0:13:42.959 been known to overcharge on the price of a stock 0:13:43.400 --> 0:13:46.120 more than what the stock is actually valued for at 0:13:46.120 --> 0:13:48.160 the time, and we may not notice because it's a 0:13:48.160 --> 0:13:51.319 few cents, but all of those things matter. And here's 0:13:51.360 --> 0:13:54.679 the other thing. When you start investing, you want to 0:13:54.840 --> 0:13:58.800 go to a company that is established and that has 0:13:59.080 --> 0:14:04.160 the back king. Especially during challenging economic times. You don't 0:14:04.200 --> 0:14:06.800 want to go to a new company that was just established. 0:14:06.840 --> 0:14:08.800 You want to go with the old money. That's the 0:14:08.840 --> 0:14:12.040 way we're going to be the safest. There's two brokerage 0:14:12.080 --> 0:14:14.920 accounts out there. One of them is really great just 0:14:14.960 --> 0:14:18.839 because they have fractional shares. So let me explain really 0:14:18.920 --> 0:14:21.800 quickly what a fractional share is. Let's say you want 0:14:21.800 --> 0:14:25.360 an Apple share and the Apple share costs one hundred dollars, 0:14:25.640 --> 0:14:28.760 and you right now don't have the budget to buy 0:14:28.800 --> 0:14:31.800 the share for one hundred dollars. With a fractional share, 0:14:31.960 --> 0:14:36.840 you can just invest five dollars, ten dollars, fifty dollars, 0:14:36.960 --> 0:14:40.520 seventy five dollars, one dollar if you wanted to buy 0:14:40.600 --> 0:14:43.920 a piece of a share, so you don't need a 0:14:44.040 --> 0:14:47.800 minimal amount. You can start with whatever you have. And 0:14:47.880 --> 0:14:50.960 the way I like for our community to start is 0:14:51.000 --> 0:14:53.760 the way I say it is, start with what you're 0:14:53.800 --> 0:14:57.800 okay with losing, just because I want you to emotionally 0:14:57.960 --> 0:15:01.840 unattach yourself from money and not be like, oh my gosh, 0:15:01.840 --> 0:15:04.280 my money if the stock market comes down a little, 0:15:04.320 --> 0:15:06.680 which it will and sometimes it'll come down a lot. 0:15:06.800 --> 0:15:10.000 I don't want you to have anxiety or overwhelm over 0:15:10.080 --> 0:15:12.360 what the money is doing. I want you to learn 0:15:12.440 --> 0:15:16.000 to emotionally break away from the money and just invest 0:15:16.040 --> 0:15:18.520 it and watch what it feels like to let go 0:15:18.600 --> 0:15:21.360 of money and have money work for you. It can 0:15:21.400 --> 0:15:25.320 feel painful in the short amount of time because it's volatile. 0:15:25.680 --> 0:15:28.600 But in years from now, you're gonna be grateful that 0:15:28.680 --> 0:15:31.080 you begin to do that type of work of letting 0:15:31.120 --> 0:15:33.840 go of money and begin investing it, and you're gonna 0:15:33.840 --> 0:15:36.680 be able to see the return on your investment. So 0:15:36.760 --> 0:15:40.680 there's no minimum to start. Fractional shares can be found 0:15:40.960 --> 0:15:46.560 in a company like Fidelity. There's also e Trade. There's 0:15:46.800 --> 0:15:49.840 several big companies I list them in the book as 0:15:49.880 --> 0:15:52.440 well that you can open your brokerage account with. 0:16:00.680 --> 0:16:02.160 So you guys, so you have to read the book, Okay, 0:16:02.160 --> 0:16:03.640 but still we're gonna get as much as we can 0:16:03.680 --> 0:16:06.160 from Linda today. But you even say that that got 0:16:06.520 --> 0:16:10.480 recipients can also enter the stock market as well, so 0:16:10.560 --> 0:16:11.280 that's great to know. 0:16:12.440 --> 0:16:12.840 Yeah. 0:16:12.920 --> 0:16:16.480 So all you need is either an iti in number 0:16:16.640 --> 0:16:19.840 or a Social Security number. So if you're a DOCA recipient, 0:16:20.080 --> 0:16:23.800 you can start building your assets and start building your portfolio. 0:16:24.320 --> 0:16:27.240 You can use your portfolio as leverage for when you 0:16:27.320 --> 0:16:30.000 do want to buy a house. It counts as part 0:16:30.000 --> 0:16:33.080 of your net worth. It's important for me to also 0:16:33.160 --> 0:16:36.120 convey that you can get started from the day that 0:16:36.240 --> 0:16:39.040 you are born, the day that you're given an iti 0:16:39.120 --> 0:16:41.000 in number, or the day that you're given a Social 0:16:41.000 --> 0:16:44.280 Security number, you can start building your assets and have 0:16:44.600 --> 0:16:47.680 a portfolio. So for any parents out there that have 0:16:47.800 --> 0:16:52.000 younger children or nieces and nephews, you can start a 0:16:52.040 --> 0:16:55.760 custodial account and that is an account that you manage 0:16:55.840 --> 0:16:58.360 for a child in your life. When they turn eighteen, 0:16:58.720 --> 0:17:01.560 that portfolio, it comes their portfolio. 0:17:02.320 --> 0:17:06.239 So how do you determine which stocks you should buy into? Like, 0:17:06.280 --> 0:17:08.480 are there any tips anything that you recommend? 0:17:09.200 --> 0:17:09.840 Absolutely? 0:17:10.320 --> 0:17:12.240 So the way I want you all to look at 0:17:12.240 --> 0:17:15.480 this is I want you to think of the companies 0:17:15.480 --> 0:17:18.960 that are mostly used a lot of the times folks think, 0:17:19.200 --> 0:17:21.399 oh the stock market, I need to find a needle 0:17:21.400 --> 0:17:23.440 in a haystack, or what's going to be the next 0:17:23.440 --> 0:17:25.880 big thing. I don't want you to think that way. 0:17:26.359 --> 0:17:28.720 I want you to think about the companies that we 0:17:28.840 --> 0:17:32.360 are all dependent on. What phone do you use, what 0:17:32.400 --> 0:17:35.560 computer do you use? What are you turning on when 0:17:35.640 --> 0:17:39.160 you're watching television? Like I literally want you to think 0:17:39.200 --> 0:17:41.960 of what you're most dependent on in your day to 0:17:42.080 --> 0:17:45.720 day and then once you look at what you're dependent on, 0:17:46.640 --> 0:17:49.359 I want you to start to see what everyone else 0:17:49.440 --> 0:17:53.000 is dependent on as well. So it's the products that 0:17:53.160 --> 0:17:56.040 everyone is using, like are you shopping at Target or 0:17:56.080 --> 0:17:58.480 are you shopping at Walmart. I just want you to 0:17:58.520 --> 0:18:02.479 look at the companies that you solely depend on and 0:18:02.520 --> 0:18:05.159 that everyone else does as well. I don't want you 0:18:05.240 --> 0:18:08.679 to try and find the next big thing that becomes 0:18:08.720 --> 0:18:12.560 a little bit more challenging and riskier. You want to 0:18:12.600 --> 0:18:16.199 invest into companies that you use, that you consume, and 0:18:16.240 --> 0:18:18.720 then I want you to look at it like building 0:18:18.800 --> 0:18:22.440 a pantry. So think of your pantry. And I don't 0:18:22.640 --> 0:18:24.879 recommend that you try to invest in a ton of 0:18:24.920 --> 0:18:28.240 different companies. I want you to stay focused and look 0:18:28.280 --> 0:18:33.080 at it as like Geksa. So let's think of something 0:18:33.200 --> 0:18:36.800 very simple, like one company look at it as like Aros. 0:18:37.320 --> 0:18:41.160 Another company look at it as fri Holos. Another company 0:18:41.200 --> 0:18:48.000 look at it as Dorthias, and every month comps Una tortilla, 0:18:48.200 --> 0:18:51.120 month after month after month, and then eventually you're going 0:18:51.160 --> 0:18:56.520 to have una. Oh Yeahros Dortias, you know, to serve 0:18:56.720 --> 0:18:59.560 not just for you, but for your entire families. So 0:18:59.640 --> 0:19:01.880 that's kind of the way I want folks to look 0:19:01.920 --> 0:19:05.119 at it. It's companies that we consume and that we 0:19:05.160 --> 0:19:06.680 know we can't live without. 0:19:06.920 --> 0:19:08.919 That is perfect because I love food and I'm a 0:19:09.000 --> 0:19:10.760 very visual person. So now I could be like get 0:19:11.560 --> 0:19:13.320 and I'm gonna turn that into a freaking feast. 0:19:13.560 --> 0:19:15.240 Yes, that's like an. 0:19:15.080 --> 0:19:20.919 Awesome way of like okay, cool, you got meh Okay, 0:19:21.160 --> 0:19:21.760 that's awesome. 0:19:21.920 --> 0:19:22.200 Okay. 0:19:22.480 --> 0:19:25.920 Is there a good or a bad time to start 0:19:26.160 --> 0:19:27.280 or or to buy stock. 0:19:28.000 --> 0:19:32.080 There's a great time to buy stock, and it's typically 0:19:32.119 --> 0:19:35.120 when the market is down, and so we only get 0:19:35.160 --> 0:19:40.400 those opportunities every ten years. We're in one of those 0:19:40.480 --> 0:19:45.600 opportunities right now. So typically the stock market will crash 0:19:45.720 --> 0:19:49.280 every ten years. We just recently had a crash. We 0:19:49.400 --> 0:19:52.800 had two back to back crashes during COVID because of 0:19:52.840 --> 0:19:56.199 the pandemic and then again because of the war with 0:19:56.720 --> 0:20:00.000 Ukraine and Russia, and so the stock market comes down. 0:20:00.240 --> 0:20:02.719 You have to look at it as like these companies 0:20:03.320 --> 0:20:06.640 are a lot cheaper than what they were a few 0:20:06.720 --> 0:20:09.000 years ago, so you're starting to buy them at a 0:20:09.119 --> 0:20:12.439 cheaper price, and then we can anticipate for the stock 0:20:12.480 --> 0:20:15.040 market to begin its recovery, which it has. It's been 0:20:15.119 --> 0:20:18.600 a year almost in October that it has been recovering. 0:20:19.200 --> 0:20:23.720 And we can anticipate based on historical patterns that it 0:20:23.760 --> 0:20:27.399 will continue to grow in the next ten years. So 0:20:27.560 --> 0:20:30.920 this is actually one of the best times to get 0:20:30.960 --> 0:20:35.479 started on your investing journey and understanding the process of 0:20:35.520 --> 0:20:39.240 the market and remembering that it's not a sprint, it's 0:20:39.280 --> 0:20:43.280 a marathon. And you know, I'm working diligently to create 0:20:43.400 --> 0:20:47.719 resources so that we can understand and digest the information 0:20:48.119 --> 0:20:51.240 from a completely different perspective, from a child of immigrants, 0:20:51.320 --> 0:20:55.760 from someone that was deep in scarcity mindset that I 0:20:55.840 --> 0:20:58.360 work to overcome that on a day to day basis. 0:20:58.960 --> 0:21:00.800 Do you think because you still started how long ago 0:21:00.840 --> 0:21:02.520 you said investing in the stock market? 0:21:03.240 --> 0:21:07.120 I started in twenty thirteen, so ten years ago. 0:21:07.200 --> 0:21:09.760 Okay, ten years ago, and do you think things have changed? 0:21:09.800 --> 0:21:11.920 You think it's still possible to do what you did, 0:21:12.000 --> 0:21:14.680 like invest the amount that you've invested and made the 0:21:14.720 --> 0:21:18.040