WEBVTT - Financial Freedom with First Gen Living 0:00:02.640 --> 0:00:06.080 Hi guys, Welcome, Welcome, Welcome Gang Gang. I hope you 0:00:06.080 --> 0:00:09.479 guys are having an amazing week, and if you're not well, 0:00:09.520 --> 0:00:11.319 I hope that this show makes you feel a little 0:00:11.360 --> 0:00:15.840 bit better about life. Because today, as usual, if you 0:00:15.840 --> 0:00:17.920 didn't know, you're about to find out that you're listening 0:00:17.960 --> 0:00:23.479 to exactly Ama, a production of My Hearts and UM, 0:00:23.520 --> 0:00:25.119 thank you so much for tuning in. Thank you so 0:00:25.239 --> 0:00:30.200 much as usual because I'm very grateful, always humble of 0:00:30.280 --> 0:00:31.800 the fact that you guys are always there to show 0:00:31.800 --> 0:00:33.840 me love, support and you're always willing to hear my ship. 0:00:34.400 --> 0:00:38.880 So we're that being said, don't forget to subscribe, rate 0:00:38.960 --> 0:00:41.840 us and share this podcast with your friends, with your family. 0:00:41.880 --> 0:00:45.800 Gone gain, Sam, don't we send you with the stars? 0:00:46.200 --> 0:00:48.199 Give us five stars to in the end because you 0:00:48.240 --> 0:00:51.120 know that the show is getting better every time. Anyways, 0:00:51.600 --> 0:00:55.560 to done, we're talking about one of my favorite topics 0:00:55.640 --> 0:00:59.600 because UM, I'm always trying to figure out ways to grow, 0:01:00.240 --> 0:01:03.600 to learn, to evolve, to become a better me. And 0:01:03.600 --> 0:01:05.440 when I see a better me, I also mean a 0:01:05.440 --> 0:01:09.240 better me financially. Let's figure out how can we invest 0:01:09.240 --> 0:01:12.520 our money? How do we create generational wealth? Um, and 0:01:12.560 --> 0:01:15.360 I'm going to have a friend to break it down 0:01:15.440 --> 0:01:17.360 for me, for those who still don't get it, for 0:01:17.400 --> 0:01:19.679 those that don't understand, for those that are still confused, 0:01:19.880 --> 0:01:23.880 for those that don't feel that because I'm still young, 0:01:23.920 --> 0:01:27.360 I still got time. Not necessarily, Actually, while you're young 0:01:27.480 --> 0:01:30.479 is the time to do it. Igono. My guest today 0:01:30.560 --> 0:01:40.920 is the founder of First General Living, Maria melchor Um. Maria, 0:01:41.000 --> 0:01:43.959 thank you so much for coming in today. Thank you 0:01:44.040 --> 0:01:46.120 so much for having me. It's such a pleasure to 0:01:46.160 --> 0:01:50.120 be here and be talking with you about my favorite topic, 0:01:50.320 --> 0:01:55.800 which is money and generational wealth building. I love that 0:01:55.840 --> 0:01:59.040 we are both, you know, we talked about growing up 0:01:59.240 --> 0:02:02.680 in immigrant families and growing up with that kind of 0:02:02.720 --> 0:02:07.160 mentality and trying to you know, break away from some 0:02:07.280 --> 0:02:11.720 of that to start you know, building our own uh 0:02:11.760 --> 0:02:15.200 our our own wealth. So I really appreciate you having me. 0:02:15.360 --> 0:02:17.880 Of course, we're the ones I really feel like for 0:02:17.919 --> 0:02:19.960 those that come from immigrant parents, And I always talk 0:02:20.000 --> 0:02:21.600 about that because a lot of people I feel that 0:02:21.680 --> 0:02:26.200 don't understand it or don't um get where we're coming 0:02:26.240 --> 0:02:29.600 from when we say that our parents fought really hard 0:02:29.639 --> 0:02:31.240 for us to have a better future, and we're so 0:02:31.320 --> 0:02:35.120 grateful for that, but we also I also feel that 0:02:35.160 --> 0:02:38.360 we need to break certain generational curses. And when I 0:02:38.400 --> 0:02:42.239 mean certain generational curses, I mean the fact that they 0:02:42.280 --> 0:02:46.120 have a different mentality of what money means to them 0:02:46.240 --> 0:02:49.640 and how money should be invested to them. So before 0:02:49.639 --> 0:02:52.240 we get into it, can you please explain and break 0:02:52.240 --> 0:02:56.880 down what exactly as generational wealth to you? Yeah? All right, 0:02:57.080 --> 0:03:02.840 So I see generational wealth as you know, this opportunity 0:03:03.160 --> 0:03:07.760 for us, for us individuals to share our money not 0:03:07.840 --> 0:03:13.320 only with like our parents, but our future generation. So 0:03:13.760 --> 0:03:16.600 it's not just about you know, living paycheck to paycheck. 0:03:16.680 --> 0:03:19.280 Money is not just about living paycheck to paycheck, but 0:03:19.360 --> 0:03:21.760 it's about thinking about how can I share it with 0:03:21.800 --> 0:03:24.920 my family, be and my parents, my grandparents, or also 0:03:25.160 --> 0:03:28.280 my kids their kids. I think about it as like 0:03:28.360 --> 0:03:33.359 stability and as flexibility for me and my loved ones. 0:03:33.480 --> 0:03:36.760 That's how I see generational wealth most definitely. And I 0:03:36.840 --> 0:03:40.720 know that First Gen Living was something that you created obviously, 0:03:41.320 --> 0:03:45.760 um it educates people, especially first generation immigrants, students and 0:03:45.800 --> 0:03:49.400 professionals and all that stuff on finance. What motivated you? 0:03:49.440 --> 0:03:52.560 What inspired you to want to be the one to 0:03:52.600 --> 0:03:56.240 actually give that helping hand yeah. I you know, I 0:03:56.280 --> 0:03:59.920 grew up in a very hard working family, very hard working, 0:04:00.040 --> 0:04:03.120 but still low income. You know, we still we're living 0:04:03.480 --> 0:04:08.680 at the federal poverty line. We still, you know, we're struggling. Uh. 0:04:08.720 --> 0:04:11.280 And that always made me have money on my mind. 0:04:11.480 --> 0:04:15.600 So as soon as I graduated college, I wanted to 0:04:15.680 --> 0:04:19.040 learn more about how to maximize my money, how to 0:04:19.120 --> 0:04:21.960 start building some of this generational wealth. What did this 0:04:22.160 --> 0:04:25.600 even look like? What did this even mean? Uh? And 0:04:25.640 --> 0:04:27.239 I had to do all of that on my own, 0:04:27.320 --> 0:04:30.679 like you said, like I didn't have anybody to turn 0:04:30.760 --> 0:04:35.080 to for guidance. Uh. So I, you know, I started 0:04:35.160 --> 0:04:38.760 reading books, I started listening to podcasts, I started taking courses, 0:04:39.360 --> 0:04:42.400 and over time and I felt really confident. I felt 0:04:42.400 --> 0:04:45.480 like I knew what I was doing. And I wanted 0:04:45.520 --> 0:04:49.279 to be that mentor, that money mentor for other people 0:04:49.400 --> 0:04:54.640 that also wanted to break these curses and start building 0:04:54.640 --> 0:04:58.160 their wealth, but maybe didn't have the interests or the time. 0:04:58.839 --> 0:05:00.479 I just didn't want to have to go through this 0:05:00.560 --> 0:05:03.919 process alone. Uh. That's where first gen Living came in. 0:05:04.000 --> 0:05:06.200 I said, I, you know, I want to build my 0:05:06.279 --> 0:05:11.000 own financial education consulting business where I can just help 0:05:11.040 --> 0:05:14.760 people one on one uh help them reach reach their 0:05:14.800 --> 0:05:18.280 financial goals. I love that. I love the fact that 0:05:18.320 --> 0:05:22.279 you're willing to, somewhat to a certain extent um, sacrifice 0:05:22.520 --> 0:05:25.800 right your own time so that you can be able 0:05:25.839 --> 0:05:29.440 to provide this information for those that may not have 0:05:29.520 --> 0:05:32.560 the time, that may be afraid, that may not understand, 0:05:32.600 --> 0:05:36.240 they might feel that it's too difficult. UM. So definitely 0:05:36.440 --> 0:05:38.840 super grateful for that, And we're definitely gonna be chatting 0:05:38.839 --> 0:05:40.960 after this is all done to see how you can 0:05:40.960 --> 0:05:43.200 help me and you can boost up my finances because 0:05:43.440 --> 0:05:46.440 I'm always I'm always looking for ways to invest, and 0:05:46.440 --> 0:05:48.760 not only to invest, but to better what I already have. 0:05:49.279 --> 0:05:51.400 Sometimes I really feel that here in the United States, 0:05:51.440 --> 0:05:53.320 one thing that we don't take advantage of the fact 0:05:53.360 --> 0:05:55.440 is that there's a lot of programs that a lot 0:05:55.520 --> 0:05:57.760 of us don't even know about. Right, there's a lot 0:05:57.760 --> 0:06:01.359 of programs that can help us finance actually, um, and 0:06:01.480 --> 0:06:05.039 things might not be as difficult as we think sometimes 0:06:05.680 --> 0:06:10.000 we make. It seems. Even to buy a house, it's 0:06:10.080 --> 0:06:14.760 like Giorn think, just like Mommy, there's so many plans. 0:06:15.360 --> 0:06:16.840 You may not buy that one, but you could buy 0:06:16.880 --> 0:06:22.400 another one. Right, Guess there's a lot of other things 0:06:22.440 --> 0:06:25.719 you can do. What is your favorite way of investing money. 0:06:26.240 --> 0:06:29.120 When I think about investing, I think about what's possible 0:06:29.160 --> 0:06:33.320 for me right now. I've thought about investing in the 0:06:33.360 --> 0:06:37.520 stock market, investing in real estate. Now there's crypto, investing 0:06:37.520 --> 0:06:41.960 in crypto. There are many different avenues, and I've thought, well, 0:06:42.560 --> 0:06:45.440 what can I start off with if I don't have 0:06:45.560 --> 0:06:48.839 that much cash, if I don't have that much income 0:06:48.960 --> 0:06:52.800 or cash to get started with with a house or 0:06:52.880 --> 0:06:56.839 get started with real estate property. I've also thought, I'm 0:06:56.920 --> 0:06:59.920 somebody who you know, I'm moving around a lot, I'm young, 0:07:00.000 --> 0:07:02.159 I don't really know where I want to stay. I 0:07:02.200 --> 0:07:04.760 don't really know if real estate is the thing for 0:07:04.800 --> 0:07:08.479 me right now. So I started with investing in the 0:07:08.480 --> 0:07:13.560 stock market. That's been my approach. That's what I've prioritized. 0:07:14.280 --> 0:07:16.640 But I see real estate as something that may come 0:07:16.720 --> 0:07:18.960 for me down the line. You were not you were 0:07:18.960 --> 0:07:21.160 never you were never afraid of the stock market because, 0:07:21.200 --> 0:07:23.600 for example, I've heard great things about it. You know 0:07:23.640 --> 0:07:25.560 that I have. Indeed, i've seen it in the movies either, 0:07:25.840 --> 0:07:30.200 Like you know, people are running around, but I really 0:07:30.240 --> 0:07:32.720 still don't get it. I know you can. I've heard 0:07:32.760 --> 0:07:34.440 of people that make a lot of money. Is it 0:07:34.480 --> 0:07:36.560 a little bit scary, Yes, because as the point of me, 0:07:36.640 --> 0:07:39.800 the fields that it's almost like gambling. It's like you 0:07:39.840 --> 0:07:41.880 put and you if you really don't understand that, you 0:07:41.920 --> 0:07:44.280 can lose everything that you had in there. So, um, 0:07:44.320 --> 0:07:47.680 you were never afraid of taking that first step. I 0:07:47.760 --> 0:07:50.480 was afraid at first, but right, I put in all 0:07:50.520 --> 0:07:55.760 of this time and effort in learning about finances, and 0:07:56.000 --> 0:07:58.720 the more I learned, the more I realize, Okay, actually 0:07:58.840 --> 0:08:02.400 this is okay. And I like what you said earlier 0:08:02.400 --> 0:08:06.440 about leaving your money in cash because, uh, leaving your 0:08:06.440 --> 0:08:09.240 money in cash. Something people don't think about is that 0:08:09.280 --> 0:08:12.760 there is risk in leaving your money in cash. There's 0:08:12.800 --> 0:08:16.280 not just risk in investing in the stock market or 0:08:16.320 --> 0:08:19.320 real estate. There's also a risk of inflation if you 0:08:19.400 --> 0:08:23.160 just leave your your cash and your bank account, right, Like, yeah, 0:08:23.200 --> 0:08:25.360 if you leave it under your bed, right, there's that 0:08:25.680 --> 0:08:28.840 risk of what if you know, somebody takes it of 0:08:28.960 --> 0:08:31.880 your house catches on fire. But even if you leave 0:08:31.920 --> 0:08:35.720 it in a bank that you trust, your money is 0:08:35.800 --> 0:08:39.760 losing value if the you know, if the value of 0:08:39.840 --> 0:08:42.840 the US dollar is going down over time. Um, so 0:08:42.920 --> 0:08:45.960 with investing the stock market as as long as you 0:08:46.000 --> 0:08:48.600 understand that that there is some risk, but that you 0:08:48.640 --> 0:08:52.040 can manage that risk. It's safe. It's a safe way 0:08:52.080 --> 0:08:54.679 to build wealth. It's a way that a lot of people, 0:08:54.840 --> 0:08:56.319 a lot of people who have a lot of money 0:08:56.320 --> 0:08:59.000 now have been able to build their wealth is by 0:08:59.000 --> 0:09:09.720 investing the stock mark it. Do you have a team 0:09:09.760 --> 0:09:12.640 that helps you with this or do you do everything yourself? Yeah? 0:09:12.720 --> 0:09:16.200 I've been doing everything myself. I've been thinking about growing. 0:09:16.800 --> 0:09:19.200 I I get the fear about investing in the stock market. 0:09:19.280 --> 0:09:22.280 I think, uh, there are many ways to get started, 0:09:22.440 --> 0:09:25.880 and I think the first thing to think about is 0:09:26.120 --> 0:09:29.280 you know what it is that your goal is. Um. 0:09:29.400 --> 0:09:32.040 Something I work with my clients on is just trying 0:09:32.080 --> 0:09:35.880 to get a vision, to get their vision and turn 0:09:35.960 --> 0:09:39.120 it into a goal, to figure out if investing in 0:09:39.120 --> 0:09:42.280 the stock market makes sense for them or if something 0:09:42.360 --> 0:09:44.800 like investing in real estate is what works for Do 0:09:44.880 --> 0:09:47.959 you do feel the same way now about bitcoins and 0:09:48.080 --> 0:09:50.040 crypto and all these are the things that have teeth. 0:09:50.440 --> 0:09:52.760 Is this something that you're also interested in in? Uh? 0:09:52.800 --> 0:09:54.800 You know, getting yourself involved in that world? Are you 0:09:54.840 --> 0:09:59.160 already involved in that world? I'm not already involved in 0:09:59.200 --> 0:10:04.040 that world. So I do see investing in the stock 0:10:04.040 --> 0:10:08.040 market as way less risky than investing in bitcoin or 0:10:08.200 --> 0:10:12.600 crypto because the stock market has actually been around for decades, 0:10:12.720 --> 0:10:17.400 it's heavily regulated by the US government, and there's a 0:10:17.440 --> 0:10:21.160 lot of data that helps us understand what we can 0:10:21.280 --> 0:10:24.200 expect for the future, and a lot of laws that 0:10:24.320 --> 0:10:27.360 help us. Yeah, keep our money safe. This is something 0:10:27.360 --> 0:10:29.600 that is And when it comes to stock market, is 0:10:29.600 --> 0:10:31.920 this something like because I've seen it people that wake 0:10:32.000 --> 0:10:33.640 up early in the morning and they go they don't 0:10:33.640 --> 0:10:36.880 have to watch the news and see what the stock 0:10:36.960 --> 0:10:38.640 is up and down and this and that. Do you 0:10:38.679 --> 0:10:41.440 spend like all day in act? And like, is this 0:10:41.520 --> 0:10:45.120 like a whole psychig or is this something you wants 0:10:45.120 --> 0:10:46.920 to watch just look and the just invest a little 0:10:46.920 --> 0:10:48.680 bit of money there and then come on, how do 0:10:48.720 --> 0:10:52.280 you do it? Yeah? Definitely more every now and then. 0:10:52.400 --> 0:10:56.000 I look at my investments. I'm not monitoring them day 0:10:56.000 --> 0:10:59.760 and night, morning and night. I and what I call 0:10:59.840 --> 0:11:04.439 my self a passive long term investor. So, like you're saying, right, 0:11:04.480 --> 0:11:07.440 life gets busy. I do not want to spend all 0:11:07.480 --> 0:11:11.040 of my time just like looking at these numbers I 0:11:11.120 --> 0:11:15.880 believe in buying into groups of investments. So instead of 0:11:15.880 --> 0:11:20.080 buying into one investment at a time, getting exposure to 0:11:20.360 --> 0:11:25.160 large parts of the economy through these groupings of investments 0:11:25.200 --> 0:11:29.079 called mutual funds, I buy into mutual funds. I let 0:11:29.120 --> 0:11:32.319 those investments sit there, I put my cash in, let 0:11:32.320 --> 0:11:36.640 those investments sit there, and have those investments grow as 0:11:37.360 --> 0:11:41.640 the economy expands, as these companies grow in value over time. 0:11:42.520 --> 0:11:45.360 There's still risk involved with that, but it's so low 0:11:45.440 --> 0:11:48.719 maintenance Soloman And Okay, so for those that still want 0:11:48.760 --> 0:11:52.000 to continue obviously understanding more besides stock right because the 0:11:52.040 --> 0:11:56.240 stock market, Um, what are other ways that you advise 0:11:56.400 --> 0:11:59.440 people to invest their money? Like let's say a lot 0:11:59.480 --> 0:12:02.080 of people do in the pandemic they got the little um, 0:12:02.120 --> 0:12:04.760 the little stimulus check and didn't know what to do 0:12:04.840 --> 0:12:07.640 with the money. Um. But I said multi book, all right, 0:12:07.679 --> 0:12:10.120 because well, I've known a lot of people that have 0:12:10.160 --> 0:12:12.520 studied a company. They started off with a thousand dollars 0:12:12.520 --> 0:12:14.680 and next thing you know, they flipped that money. That 0:12:14.800 --> 0:12:17.040 money flipped into something else and the next thing you know, yeah, 0:12:17.040 --> 0:12:19.560 there are multi millionaires. But whether it is you have 0:12:19.600 --> 0:12:21.880 a thousand dollars or you have ten thousand dollars or 0:12:21.880 --> 0:12:24.480 maybe twenty thousand dollars saved in the bank um and 0:12:24.520 --> 0:12:27.560 you want to invest it. What are several different ways 0:12:27.640 --> 0:12:30.760 that you can advise people to invest their money? Yeah, I, 0:12:31.320 --> 0:12:34.720 you know, can't tell people what to invest in. That 0:12:35.040 --> 0:12:39.520 only in the US, only certified financial advisors can do that. 0:12:40.000 --> 0:12:42.520 What I do with my clients is I teach them 0:12:42.559 --> 0:12:47.280 how to go out and educate themselves on making these 0:12:47.360 --> 0:12:51.920 choices for themselves. So I teach more of like the process. 0:12:52.200 --> 0:12:54.839 I don't tell people exactly what to invest in. So 0:12:55.120 --> 0:12:59.800 a process I advise people on is yeah, get started 0:12:59.800 --> 0:13:02.040 with a goal. So like, what are these ten k 0:13:02.240 --> 0:13:04.360 what is this ten tho dollars twenty dollars? What do 0:13:04.440 --> 0:13:07.440 they represent for you? Like? Is this something where you 0:13:07.480 --> 0:13:10.280 want to leave money for your kids? Is this something 0:13:10.320 --> 0:13:13.120 where you know you want to be able to save 0:13:13.240 --> 0:13:16.280 for bait down payment for five ten years from now? Like? 0:13:16.320 --> 0:13:19.679 What is your goal once you have that? If you 0:13:19.720 --> 0:13:22.160 don't want to invest any more time, Like you don't 0:13:22.240 --> 0:13:23.520 want to work with me, you don't want to work 0:13:23.520 --> 0:13:25.760 with anybody. You just want to put that money in 0:13:25.800 --> 0:13:29.520 an investment in the stock market. I recommend going to 0:13:29.559 --> 0:13:32.960 a robo advisor. So you know how with social media 0:13:33.040 --> 0:13:36.120 there's like these algorithms that figure out what you want 0:13:36.120 --> 0:13:40.360 to see and well there's also algorithms for banks that 0:13:40.440 --> 0:13:43.240 help you. You know, once you give them a goal, 0:13:43.760 --> 0:13:47.280 they help you actually build your investment portfolio for you 0:13:48.120 --> 0:13:50.439 and do the rest of the work for you. So 0:13:50.600 --> 0:13:52.600 you just give them the cash, give them the goal, 0:13:52.840 --> 0:13:55.640 and this robo advice or this algorithm will create the 0:13:55.679 --> 0:13:58.840 portfolio for you, uh, do kind of all of the 0:13:58.880 --> 0:14:01.880 technical scary stuff for you. So that would be my 0:14:01.960 --> 0:14:05.040 advice for next steps for people who feel a little 0:14:05.080 --> 0:14:10.520 overwhelmed or a little a little afraid, um to get started. Okay, 0:14:10.559 --> 0:14:13.559 So I'll ask you this too as a as a Latina. Right, 0:14:13.600 --> 0:14:17.760 where are you? Where is your family from? I I 0:14:17.800 --> 0:14:21.240 grew up in Mexico. Actually my family is from Mexico. Um, 0:14:21.560 --> 0:14:25.160 we moved here when I was a kid. Uh, but 0:14:25.320 --> 0:14:30.640 in Mexicana. Okay, charity Latin. I was explaining earlier how 0:14:30.680 --> 0:14:34.680 my mom doesn't really understand how finance works these days, 0:14:34.760 --> 0:14:38.520 Like she'll still tell me about like thirty years ago, lacks, 0:14:38.640 --> 0:14:41.920 I thought that things were so much cheaper. The food 0:14:42.000 --> 0:14:45.520 is expensive, this and that, like, you know, there's a 0:14:45.520 --> 0:14:47.560 part of me that I feel like they're still stuck 0:14:47.680 --> 0:14:49.880 on how it used to be. And it's like the 0:14:49.920 --> 0:14:53.800 world is changing. Everything has changed, everything's online, it's all. 0:14:54.160 --> 0:14:59.240 It's the world is changing right overall. So, um, when 0:14:59.280 --> 0:15:02.080 you talk to your parents, are when when you told 0:15:02.120 --> 0:15:04.920 them what you were doing? How have you been able 0:15:04.960 --> 0:15:07.480 to help them grow mentally? When it comes to money 0:15:07.520 --> 0:15:10.000 have how have you been able to teach them? Um, 0:15:10.080 --> 0:15:12.040 this is how you should use your money. This is 0:15:12.080 --> 0:15:14.280 a proper way of doing things. When it comes to 0:15:14.320 --> 0:15:18.440 talking to my parents, I always like to start by 0:15:18.520 --> 0:15:21.120 telling them about what I'm doing and how it's been 0:15:21.160 --> 0:15:24.400 working for me. Uh So I don't like to just 0:15:24.440 --> 0:15:27.960 tell them, you know, you're wrong, I'm right, because I 0:15:28.040 --> 0:15:32.160 always you know, our parents have some with them, right 0:15:32.200 --> 0:15:35.040 like they do have with them, and I think it's 0:15:35.080 --> 0:15:37.040 just about you know, well, yeah that is the way 0:15:37.080 --> 0:15:39.160 it was then, and I want to listen to you 0:15:39.200 --> 0:15:41.160 and hear about it, and then I want to tell 0:15:41.200 --> 0:15:44.200 you about what I've been doing, you know, listen, like 0:15:44.240 --> 0:15:47.920 I just opened this investment account with this bank, and 0:15:48.560 --> 0:15:51.880 here's how much my money has grown. And no, here 0:15:51.960 --> 0:15:54.920 they're like very few seeds I had to pay, and 0:15:55.280 --> 0:15:59.000 I want this for you too, are you interested? Uh? 0:15:59.040 --> 0:16:03.160 And really like up you know, having many conversations where 0:16:03.240 --> 0:16:06.680 we just listen to each other and build that trust 0:16:06.800 --> 0:16:09.880 with them and show them my numbers first. Um, because 0:16:09.880 --> 0:16:13.000 I know that a lot of the distrust around for example, 0:16:13.040 --> 0:16:15.360 like a stock market and banks in the US like 0:16:15.920 --> 0:16:18.600 that is not unfounded. You know, I know that it 0:16:18.640 --> 0:16:22.360 comes from somewhere. So it's about you know, like things 0:16:22.400 --> 0:16:24.760 have changed. And look, I'm an example, like I can 0:16:24.800 --> 0:16:27.600 show you that this this is working out for me, 0:16:28.120 --> 0:16:32.320 it's working out for my clients. So um, yeah, I 0:16:32.320 --> 0:16:34.920 mean they have valid they have valid stories. I think 0:16:35.280 --> 0:16:38.960 my parents have always believed in real estate, Like you know, 0:16:39.280 --> 0:16:42.280 way to build wealth is real estate. Uh. So that's 0:16:42.320 --> 0:16:45.280 something that I'm I'm also trying to be open to, Like, Okay, 0:16:45.320 --> 0:16:48.080 you really believe that I'm a fan of real estate. 0:16:48.080 --> 0:16:51.080 You already know anybody has heard exactly that. I always 0:16:51.080 --> 0:16:53.120 talk about real estate because I'm like, you may not 0:16:53.280 --> 0:16:55.720 need money for this to buy clothes, for your nails, 0:16:55.720 --> 0:16:57.520 for your hair, but everybody needs a place to live. 0:16:57.840 --> 0:17:01.040 So you can't go wrong with cement and break. Um. 0:17:01.080 --> 0:17:03.080 And you know I've been a fan of it, I 0:17:03.240 --> 0:17:05.959 but at the same time, I'm always still looking for 0:17:06.000 --> 0:17:10.200 other ways to grow and learn. I don't think that 0:17:10.240 --> 0:17:12.480 you should be closed minded. You know, the stock market 0:17:12.520 --> 0:17:15.600 is not something that I've necessarily been a fan of 0:17:15.720 --> 0:17:18.960 because I don't understand it. But I'm always willing to 0:17:19.040 --> 0:17:21.360 learn and understand. So I think that's the most important part, 0:17:21.400 --> 0:17:23.679 is to be open minded Maria. But I also want 0:17:23.720 --> 0:17:25.240 to ask you this because I know that you've talked 0:17:25.280 --> 0:17:29.000 about how some first generation Latinos can feel guilty when 0:17:29.000 --> 0:17:33.040 they start making money because they compare you know, um, 0:17:33.080 --> 0:17:36.960 they compare to what their parents basically you know, used 0:17:37.000 --> 0:17:38.760 to make or what they make with their work. So 0:17:39.320 --> 0:17:41.280 can you explain that a little bit? Why do you 0:17:41.320 --> 0:17:46.199 feel that they feel guilty or we feel guilty? Yeah, 0:17:46.240 --> 0:17:49.600 I mean I can talk more about right, like growing 0:17:49.720 --> 0:17:53.120 up in a family where my dad was working all day, 0:17:53.200 --> 0:17:56.320 my mom was working all day, but they still we're 0:17:56.320 --> 0:18:00.520 getting underpaid and we're not making enough to be able 0:18:00.560 --> 0:18:03.760 to be where I'm at now. Right. Um, Seeing that, right, 0:18:03.800 --> 0:18:06.800 it makes me think, well, I have to work hard 0:18:07.000 --> 0:18:09.720 all the time every day in order to make like 0:18:09.840 --> 0:18:14.160 the bare minimum. And now when I you know, graduated college. 0:18:14.240 --> 0:18:16.600 Now that I have my own business, and I'm seeing 0:18:16.680 --> 0:18:20.200 money kind of come a little more easily than how 0:18:20.240 --> 0:18:23.760 I came for my parents, and you know, get paid 0:18:23.920 --> 0:18:28.160 more than what they were probably getting paid at my age. Uh, 0:18:28.359 --> 0:18:31.720 you know that that kind of I just have to 0:18:31.760 --> 0:18:35.080 acknowledge that, right that, like, they were in a different circumstance, 0:18:35.440 --> 0:18:39.720 they were probably getting paid less than what their labor 0:18:39.880 --> 0:18:43.159 was worth. And now I, you know, I am in 0:18:43.200 --> 0:18:46.040 a different position. I'm in a different position where I'm 0:18:46.080 --> 0:18:48.880 asking for more money. I have the privilege to ask 0:18:48.920 --> 0:18:53.520 for more money. And I you know, it's not really 0:18:53.560 --> 0:18:56.520 about um good or bad, right, Like, I can't feel 0:18:56.560 --> 0:18:59.960 guilty about that. I can just feel grateful that thing 0:19:00.040 --> 0:19:03.520 have changed and I'm in this new position. Um. So yeah, 0:19:03.560 --> 0:19:06.120 when clients come to me feeling guilty about earning more 0:19:06.160 --> 0:19:09.800 than their parents, you know, all I can say is, listen, 0:19:09.960 --> 0:19:12.480 it's not about you know that you don't deserve this. 0:19:12.720 --> 0:19:16.280 It's that your parents deserve just as much, but they 0:19:16.280 --> 0:19:19.920 didn't get it, and you know that sucks. But now 0:19:20.200 --> 0:19:31.760 you know, you you you do deserve this. You know. 0:19:31.800 --> 0:19:34.000 As much as we want things to still remain the same, 0:19:34.040 --> 0:19:37.480 things have changed and um unfortunately to a certain extent. 0:19:37.520 --> 0:19:39.239 It is true our parents have to work, you know, 0:19:39.320 --> 0:19:42.800 so much more harder to gain the same amount of 0:19:42.800 --> 0:19:45.200 money that a lot of us are able to get 0:19:45.280 --> 0:19:48.400 in like a day or two or a week. But 0:19:48.560 --> 0:19:51.280 I also think that there's access suits to so much 0:19:51.320 --> 0:19:55.000 more in comparison to back then. But talking about access 0:19:55.080 --> 0:19:58.399 something that I'm being I've thought about Battle. I haven't 0:19:58.400 --> 0:20:06.359 officially started movie on its battle a retirement. Retirement is 0:20:06.400 --> 0:20:09.239 something that you hear and I feel like when I 0:20:09.240 --> 0:20:12.200 don't If I have money now and I invested properly, 0:20:12.240 --> 0:20:14.760 I don't really have to be worried about like the 0:20:14.800 --> 0:20:17.680 retirement that the government is going to give me based 0:20:17.680 --> 0:20:21.240 off my taxes and based off this and like I guess, 0:20:21.520 --> 0:20:23.560 if I make money now and I invested properly, I 0:20:23.600 --> 0:20:27.000 don't have to worry about it. That's not the reality 0:20:27.040 --> 0:20:28.879 for all of us, right, all of us are not 0:20:28.960 --> 0:20:33.000 in the same situation. So do you think that this generation, 0:20:33.680 --> 0:20:38.000 especially the minorities and obviously LA the Latin X and 0:20:38.080 --> 0:20:42.000 do you think that this generation thinks as much or 0:20:42.080 --> 0:20:45.000 worries as much about retirement? Are they really thinking and 0:20:45.040 --> 0:20:48.600 looking ahead into the future. I think my generation millennials 0:20:48.640 --> 0:20:53.280 are definitely thinking about retirement one for you know, our 0:20:53.320 --> 0:20:56.600 own retirement, because we hear in the news right that 0:20:56.720 --> 0:21:01.120 social security may not be there down the line. That's 0:21:01.119 --> 0:21:04.640 not true, but you know, we hear these you never know, 0:21:06.800 --> 0:21:09.760 we hear these headlines. And we're also thinking about our 0:21:09.760 --> 0:21:12.840 parents right as we're aging, as our parents age, we're 0:21:12.880 --> 0:21:15.600 thinking about you know, oh my god, I have to 0:21:15.640 --> 0:21:18.119 figure out my retirement. But here's my parents, and I 0:21:18.160 --> 0:21:20.919 want to help them retire. You know, they worked so hard, 0:21:21.560 --> 0:21:24.679 so I I in my experience, it's it's a huge 0:21:25.240 --> 0:21:29.680 uh concern for for us uh And yeah, I mean 0:21:29.720 --> 0:21:33.120 there there will be social security maybe you know, maybe 0:21:33.119 --> 0:21:34.880 it won't be as much as we thought it would 0:21:35.000 --> 0:21:37.840 because I don't know what people think, you know, social 0:21:37.880 --> 0:21:39.760 security will be like, but it is not a lot 0:21:39.800 --> 0:21:44.720 of money. It's yea poverty standard, not a lot of money. 0:21:44.800 --> 0:21:47.200 So even if you get that right, do you want 0:21:47.240 --> 0:21:51.760 to retire comfortably um and not necessarily be struggling you 0:21:51.760 --> 0:21:55.159 know as as you as you uh as you age. 0:21:55.280 --> 0:22:02.200 So definitely top of mind for for my generation now, UM, 0:22:02.440 --> 0:22:03.879 I have to take advantage of you and ask you 0:22:03.920 --> 0:22:05.600 all the questions I can think of and other things 0:22:05.600 --> 0:22:10.240 that I know that the exactly amount listeners want to know. Um, 0:22:10.240 --> 0:22:13.920 So for those that don't know, Okay, home girl over here, 0:22:14.040 --> 0:22:17.560 she's pretty ambrains. I did go to college, However I 0:22:17.600 --> 0:22:21.400 didn't finish. I want, want want. Eventually, I would love 0:22:21.440 --> 0:22:24.240 to go back into school, but we said, there's a 0:22:24.240 --> 0:22:27.600 part of oka still it has that anxiety of like 0:22:27.680 --> 0:22:31.080 I need to accomplish what I started, whether it's finishing 0:22:31.119 --> 0:22:34.000 that same career or finding something else, but I want 0:22:34.000 --> 0:22:36.120 to do it. And also my mom wanted My mom 0:22:36.200 --> 0:22:40.760