1 00:00:00,680 --> 00:00:02,759 Speaker 1: If you're about to make a change in your life 2 00:00:03,279 --> 00:00:06,450 Speaker 1: and you feel uncomfortable, that's the best feeling you can have. 3 00:00:08,190 --> 00:00:08,770 Speaker 2: Because for the. 4 00:00:08,710 --> 00:00:11,809 Speaker 1: First time in your life, you're making a decision that's 5 00:00:11,850 --> 00:00:14,550 Speaker 1: going to be best for you and not what somebody 6 00:00:14,590 --> 00:00:15,200 Speaker 1: told you to do. 7 00:00:16,010 --> 00:00:17,810 Speaker 2: And that's when all bets are off. 8 00:00:17,989 --> 00:00:21,810 Speaker 1: Welcome to Money Making Conversation Masterclass. I'm your host, Rashawn McDonald. 9 00:00:22,310 --> 00:00:24,730 Speaker 1: Our theme is there's no perfect time to start following 10 00:00:24,770 --> 00:00:27,870 Speaker 1: your dreams. I recognize that we all have different definitions 11 00:00:27,970 --> 00:00:28,630 Speaker 1: of success. 12 00:00:28,730 --> 00:00:30,250 Speaker 2: For you, it may be the size of your. 13 00:00:30,110 --> 00:00:33,350 Speaker 1: Paycheck It's time to stop reading other people's success stories 14 00:00:33,370 --> 00:00:34,290 Speaker 1: and start living your own. 15 00:00:34,810 --> 00:00:35,350 Speaker 2: Keep winning. 16 00:00:42,610 --> 00:00:44,250 Speaker 1: Well, welcome back to Money Making Conversation. 17 00:00:44,270 --> 00:00:46,730 Speaker 2: I am your host, Rashawn McDonald. I always say this 18 00:00:46,790 --> 00:00:47,290 Speaker 2: all the time. 19 00:00:47,350 --> 00:00:50,330 Speaker 1: I tell people to stop reading other people's success stories 20 00:00:50,370 --> 00:00:53,510 Speaker 1: and start writing your own. That's important when I tell, 21 00:00:53,590 --> 00:00:55,710 Speaker 1: it's about motivation. And I don't know if I can 22 00:00:55,770 --> 00:00:58,410 Speaker 1: motivate people to understand how valuable they are. 23 00:00:58,880 --> 00:01:00,700 Speaker 2: And when I say that is that I get up 24 00:01:00,760 --> 00:01:03,080 Speaker 2: every day at 4.30 a.m. A lot of people go, ooh. 25 00:01:03,520 --> 00:01:06,080 Speaker 1: I mean, when I say that time, the average person go, ooh, 26 00:01:06,280 --> 00:01:09,400 Speaker 1: every day. Well, that's part of my plan. So if 27 00:01:09,420 --> 00:01:11,679 Speaker 1: you have a plan, because I have to get up 28 00:01:11,720 --> 00:01:14,050 Speaker 1: at that time, because if I get up at 6, 29 00:01:14,050 --> 00:01:16,190 Speaker 1: then I realize that that 4.30, I get up, I 30 00:01:16,390 --> 00:01:19,690 Speaker 1: kind of stumble around the house. I pick up a newspaper. 31 00:01:19,750 --> 00:01:22,130 Speaker 1: Nobody's bothering you at 4.30 in the morning. I watch 32 00:01:22,190 --> 00:01:24,450 Speaker 1: a TV show I want to watch. I can just 33 00:01:25,010 --> 00:01:27,290 Speaker 1: make some food that I want to eat. So set 34 00:01:27,330 --> 00:01:29,900 Speaker 1: your time to make you win. And so my next 35 00:01:29,959 --> 00:01:32,120 Speaker 1: guest is a guy that, first of all, his. 36 00:01:32,120 --> 00:01:32,839 Speaker 2: Energy is beautiful. 37 00:01:33,160 --> 00:01:36,640 Speaker 1: If you still have questions about banking, about financial, he's 38 00:01:36,700 --> 00:01:37,620 Speaker 1: a financial motivator. 39 00:01:37,940 --> 00:01:40,509 Speaker 2: But the reason I love him, let me introduce him 40 00:01:40,569 --> 00:01:42,750 Speaker 2: right quick. Again, our call number is 404-880-9255. That's 404-880-9255. 41 00:01:42,770 --> 00:01:44,510 Speaker 1: My next guest is Ash Cash. He is one of 42 00:01:44,569 --> 00:01:58,180 Speaker 1: the nation's top financial educators, personal finance experts. business coach, 43 00:01:58,380 --> 00:02:02,750 Speaker 1: motivational speaker, former 15-year banking executive, and the author of 44 00:02:02,830 --> 00:02:05,790 Speaker 1: many books, including four Amazon.com bestsellers. 45 00:02:06,290 --> 00:02:07,930 Speaker 2: I mean, he read one book. Oh, we got to 46 00:02:08,030 --> 00:02:10,750 Speaker 2: change that. Okay, I know, I know, I know. He 47 00:02:10,770 --> 00:02:13,230 Speaker 2: has been featured on many media outlets such as CNN, 48 00:02:13,270 --> 00:02:13,589 Speaker 2: The New. 49 00:02:13,510 --> 00:02:19,220 Speaker 1: York Times, Wall Street Journal, American Bankers, CNBC, TheStreet.com, Black Enterprise, 50 00:02:19,320 --> 00:02:22,980 Speaker 1: Essence Magazine, and Ebony. He is dubbed as the financial motivator. 51 00:02:23,380 --> 00:02:26,660 Speaker 1: He uses a culturally responsive approach in teaching financial literacy 52 00:02:26,680 --> 00:02:31,190 Speaker 1: and wealth building, and entrepreneurship. Above all his credentials, accolades, 53 00:02:31,270 --> 00:02:35,740 Speaker 1: and titles, Ash is simply known for helping people maximize. 54 00:02:35,060 --> 00:02:38,120 Speaker 2: Their full potential. That's what we do here. Please welcome 55 00:02:38,139 --> 00:02:41,690 Speaker 2: to Money Making Conversations. Ash Cash. Hey, brother. Thank you 56 00:02:41,710 --> 00:02:43,890 Speaker 2: for having me. Look at that voice. Oh, man. 57 00:02:43,970 --> 00:02:48,380 Speaker 3: I'm so excited because I'm in the presence of a legend. 58 00:02:48,780 --> 00:02:51,639 Speaker 2: Then I got to hear a legend on the phone, man. 59 00:02:52,080 --> 00:02:54,100 Speaker 2: It's a beautiful day. It's a beautiful day. 60 00:02:54,520 --> 00:02:58,079 Speaker 1: Well, Ash, you know, our relationship has been unique because 61 00:02:58,139 --> 00:02:59,460 Speaker 1: we've seen each other from afar. 62 00:02:59,580 --> 00:03:01,260 Speaker 2: Yes. And then when we met each other, we fell 63 00:03:01,320 --> 00:03:02,090 Speaker 2: in love like brothers. 64 00:03:02,100 --> 00:03:04,829 Speaker 1: Absolutely. And then the whole approach was tied to Your 65 00:03:04,889 --> 00:03:07,780 Speaker 1: whole world is about helping people. But the thing I 66 00:03:07,800 --> 00:03:09,880 Speaker 1: like about you, because the reason I brought you on 67 00:03:09,900 --> 00:03:11,560 Speaker 1: this show with George T. 68 00:03:11,600 --> 00:03:12,530 Speaker 2: Frazier, Dr. George T. 69 00:03:12,540 --> 00:03:15,490 Speaker 1: Frazier, is that he's a technical guy. So sometimes you 70 00:03:15,510 --> 00:03:18,970 Speaker 1: can get lost in his technical. technical style of teaching 71 00:03:19,310 --> 00:03:19,790 Speaker 1: where you. 72 00:03:19,770 --> 00:03:22,050 Speaker 2: Are a common sense. And there's no, no, no negative 73 00:03:22,070 --> 00:03:24,610 Speaker 2: on Dr. George T. Frazier, but you break it down. 74 00:03:24,630 --> 00:03:28,260 Speaker 1: It's such a, uh, a common natural way that doesn't 75 00:03:28,300 --> 00:03:29,519 Speaker 1: throw fear into people. 76 00:03:29,540 --> 00:03:29,700 Speaker 4: Yeah. 77 00:03:30,060 --> 00:03:30,600 Speaker 2: Talk about that. 78 00:03:30,740 --> 00:03:32,800 Speaker 3: Yeah. I, you know, it's, it's, it's funny because you 79 00:03:32,820 --> 00:03:34,920 Speaker 3: mentioned I was a 15 year banking executive. 80 00:03:34,980 --> 00:03:37,760 Speaker 2: So, uh, first and foremost, I grew up in a projects, right. 81 00:03:38,280 --> 00:03:40,710 Speaker 3: Um, and so, uh, growing up in a projects really 82 00:03:40,730 --> 00:03:44,970 Speaker 3: didn't have money hustler, uh, You know, packing bags at eight, 83 00:03:45,180 --> 00:03:47,900 Speaker 3: selling mixtapes and t-shirts. So I know that entrepreneur life. 84 00:03:48,780 --> 00:03:50,630 Speaker 3: But I was fortunate to get into banking and I 85 00:03:50,650 --> 00:03:53,270 Speaker 3: started at 19 years old. and did everything in banking 86 00:03:53,290 --> 00:03:56,410 Speaker 3: from personal banker, private banker, branch manager, CEO of a 87 00:03:56,430 --> 00:03:59,050 Speaker 3: credit union, right? And what I realized when I was 88 00:03:59,070 --> 00:04:01,900 Speaker 3: a private banker, I was managing money for wealthy individuals, 89 00:04:02,220 --> 00:04:04,320 Speaker 3: and they had a team. But then I thought about 90 00:04:04,380 --> 00:04:06,680 Speaker 3: my people back at home, and I said, we don't 91 00:04:06,760 --> 00:04:09,080 Speaker 3: even got one person teaching us about money. So I said, 92 00:04:09,320 --> 00:04:12,020 Speaker 3: you know, in the words of the Honorable Sean Carter, J.Z., 93 00:04:12,520 --> 00:04:14,680 Speaker 3: There's much bigger issues in the world I know. 94 00:04:15,100 --> 00:04:17,040 Speaker 2: But I first had to take care of the world 95 00:04:17,120 --> 00:04:17,420 Speaker 2: I know. 96 00:04:17,880 --> 00:04:20,170 Speaker 3: And so for me, I said, listen, if I'm a 97 00:04:20,230 --> 00:04:23,810 Speaker 3: guy who's from the neighborhood, I understand hip hop. I 98 00:04:23,850 --> 00:04:26,370 Speaker 3: understand the language. I understand, you know, what we need 99 00:04:26,390 --> 00:04:29,070 Speaker 3: from our community. And, you know, I was able to 100 00:04:29,130 --> 00:04:32,440 Speaker 3: make it to the C-suite from a banking perspective. What 101 00:04:32,480 --> 00:04:34,580 Speaker 3: if I just took that knowledge and I brought it 102 00:04:34,620 --> 00:04:37,640 Speaker 3: back to our people? And as they say, put the 103 00:04:37,700 --> 00:04:41,659 Speaker 3: medicine in the candy. And that's been my life. That 104 00:04:41,720 --> 00:04:45,559 Speaker 3: is my life mission. Exactly what Dr. Frazier was saying 105 00:04:45,960 --> 00:04:50,340 Speaker 3: was really closing that wealth gap specifically for our people 106 00:04:50,900 --> 00:04:54,120 Speaker 3: because we have everything that we need to live the 107 00:04:54,200 --> 00:04:57,479 Speaker 3: best possible life. We just need the education, and we 108 00:04:57,800 --> 00:05:00,920 Speaker 3: need that education in a way that we can understand it. 109 00:05:01,200 --> 00:05:03,859 Speaker 3: And then once we understand it, then there's no excuse 110 00:05:04,120 --> 00:05:05,240 Speaker 3: why we're not implementing it. 111 00:05:05,420 --> 00:05:05,520 Speaker 5: Cool. 112 00:05:05,760 --> 00:05:09,290 Speaker 1: We have a call here, Chantel in Marietta, Georgia. You 113 00:05:09,310 --> 00:05:11,630 Speaker 1: have a question about investment? Please welcome to the show. 114 00:05:11,670 --> 00:05:13,930 Speaker 1: You're on the air line with me right now. I'm 115 00:05:14,110 --> 00:05:16,870 Speaker 1: interviewing Ash Cash, and, of course, I'm Rashaun McDonald. What 116 00:05:16,890 --> 00:05:18,409 Speaker 1: do you have to say, Chantel? What's your question? 117 00:05:18,770 --> 00:05:20,350 Speaker 4: How are you guys doing this evening? 118 00:05:20,390 --> 00:05:22,610 Speaker 2: Thanks for having me. 119 00:05:22,670 --> 00:05:25,570 Speaker 4: I'm curious. I've been listening for you all a couple 120 00:05:25,589 --> 00:05:28,400 Speaker 4: of days now to hear about young people getting educated 121 00:05:28,779 --> 00:05:32,469 Speaker 4: and taking a chance and investing. I'm curious. I've been doing, like, 122 00:05:32,690 --> 00:05:36,060 Speaker 4: I have a 9-to-5, work for a government, but the 123 00:05:36,100 --> 00:05:39,440 Speaker 4: passive income and in-between, just trying to find my niche. 124 00:05:39,500 --> 00:05:44,460 Speaker 4: I keep doing, like, these quick little schemes, I guess, 125 00:05:44,540 --> 00:05:47,550 Speaker 4: of maybe DoorDash or Instacart or trying to make just 126 00:05:47,589 --> 00:05:51,850 Speaker 4: that income in-between instead of check-to-check. My next endeavor, I'm 127 00:05:51,930 --> 00:05:55,669 Speaker 4: curious about taking a chance with investing for ATMs. And 128 00:05:55,730 --> 00:05:58,770 Speaker 4: if you think it's profitable, I am in the Marietta 129 00:05:59,270 --> 00:06:03,140 Speaker 4: outside Atlanta area. and I just have to go for 130 00:06:03,240 --> 00:06:04,990 Speaker 4: one after the next, and then it grows. 131 00:06:05,080 --> 00:06:05,260 Speaker 6: Okay. 132 00:06:06,410 --> 00:06:08,589 Speaker 1: Let me cut you off a little bit right quick, 133 00:06:08,610 --> 00:06:10,450 Speaker 1: because you said a word that I don't ever want 134 00:06:10,500 --> 00:06:12,320 Speaker 1: you to use when you're talking about your. 135 00:06:12,800 --> 00:06:14,130 Speaker 2: investment, the word scheme. 136 00:06:14,390 --> 00:06:15,560 Speaker 4: Yes, yes, yes. 137 00:06:15,839 --> 00:06:17,500 Speaker 2: See, when that came out, I'm going to let Ash 138 00:06:17,540 --> 00:06:19,539 Speaker 2: Cash talk, but I... No, we're on the same wavelength. 139 00:06:19,560 --> 00:06:20,960 Speaker 2: You got it, you got it. When she said scheme, 140 00:06:21,040 --> 00:06:23,040 Speaker 2: I said. 141 00:06:23,180 --> 00:06:26,100 Speaker 1: I've never used the word scheme planning my financial future. 142 00:06:26,200 --> 00:06:28,320 Speaker 1: I'm afraid that somebody, the law going to come in 143 00:06:28,380 --> 00:06:29,940 Speaker 1: through the back door and the front door. 144 00:06:30,020 --> 00:06:32,740 Speaker 4: I'm sorry, I'll rephrase hustle, hustle, hustle. 145 00:06:32,800 --> 00:06:36,120 Speaker 3: I don't do that hustle talk. Yeah, that's not better either. 146 00:06:36,140 --> 00:06:37,080 Speaker 3: That's not better either. 147 00:06:37,380 --> 00:06:38,779 Speaker 6: You know, here's. 148 00:06:38,660 --> 00:06:39,700 Speaker 2: The thing, is that. 149 00:06:42,600 --> 00:06:46,050 Speaker 3: You know, focus on what you really want to focus 150 00:06:46,290 --> 00:06:50,450 Speaker 3: on and not necessarily the money aspect of it. 151 00:06:50,490 --> 00:06:50,670 Speaker 6: Right. 152 00:06:50,690 --> 00:06:53,210 Speaker 2: Because like you said, you have the nine to five. 153 00:06:53,310 --> 00:06:53,610 Speaker 5: Right. 154 00:06:53,990 --> 00:06:56,870 Speaker 3: And then now you're trying to find another way to 155 00:06:56,930 --> 00:07:00,860 Speaker 3: create passive income. I have been in that same spot before, 156 00:07:01,200 --> 00:07:02,800 Speaker 3: and I have been in your spot where I was 157 00:07:02,820 --> 00:07:04,940 Speaker 3: trying different things, putting my hand in this, hand in that. 158 00:07:05,279 --> 00:07:07,840 Speaker 3: And the thing that happened was I said, you know what, 159 00:07:07,880 --> 00:07:11,980 Speaker 3: forget the money, right? Meaning that if I'm only chasing money, 160 00:07:12,000 --> 00:07:14,850 Speaker 3: then I am wasting my time. Because money's going to 161 00:07:14,910 --> 00:07:16,630 Speaker 3: come and go. You're going to realize that. Money's going 162 00:07:16,650 --> 00:07:19,310 Speaker 3: to come and go. But if you chase after something 163 00:07:19,350 --> 00:07:23,510 Speaker 3: that you are... aligned with not hustling right not a 164 00:07:23,550 --> 00:07:25,650 Speaker 3: scheme but I want you to be aligned with what 165 00:07:25,690 --> 00:07:27,710 Speaker 3: you're doing right so I'll give you an example so 166 00:07:27,750 --> 00:07:30,309 Speaker 3: for me I said hey I want to educate people 167 00:07:30,750 --> 00:07:33,720 Speaker 3: but me educating people I said how am I going 168 00:07:33,740 --> 00:07:36,440 Speaker 3: to pay I got married I got two kids how 169 00:07:36,460 --> 00:07:38,640 Speaker 3: am I going to pay the bills by just educating 170 00:07:39,000 --> 00:07:41,640 Speaker 3: but my passion I was going to inner city schools 171 00:07:41,900 --> 00:07:44,200 Speaker 3: I was teaching financial literacy and And. 172 00:07:44,140 --> 00:07:47,840 Speaker 2: I said, how can I turn my passion into a business? 173 00:07:48,280 --> 00:07:48,540 Speaker 7: Right. 174 00:07:48,620 --> 00:07:51,870 Speaker 3: Not a side hustle, not a scheme, but an actual business. 175 00:07:52,210 --> 00:07:53,490 Speaker 3: And then I said, oh, let me write a book. 176 00:07:54,030 --> 00:07:55,390 Speaker 3: Then I said, let me go, you know, go to 177 00:07:55,430 --> 00:07:56,950 Speaker 3: schools and become a speaker. 178 00:07:57,190 --> 00:07:57,590 Speaker 2: Let me go. 179 00:07:58,050 --> 00:07:58,210 Speaker 4: Right. 180 00:07:58,290 --> 00:08:00,250 Speaker 3: And I think that that's what you need to find out. 181 00:08:00,290 --> 00:08:03,810 Speaker 2: First and foremost is what are you passionate about? Mm hmm. 182 00:08:04,180 --> 00:08:07,140 Speaker 2: And does that passion fill a need? And how can 183 00:08:07,160 --> 00:08:07,980 Speaker 2: you fill that need? 184 00:08:08,460 --> 00:08:11,280 Speaker 3: Once you do that and you start making money, then 185 00:08:11,300 --> 00:08:14,180 Speaker 3: let's start talking about how we could take that money, 186 00:08:14,220 --> 00:08:17,350 Speaker 3: like Dr. Frazier said, and start investing it in different 187 00:08:17,430 --> 00:08:21,330 Speaker 3: vehicles so that money could grow. But if you're after 188 00:08:21,350 --> 00:08:24,290 Speaker 3: the money first, I personally wouldn't say to do that. 189 00:08:24,330 --> 00:08:27,810 Speaker 3: I would say find that passion, find how that passion 190 00:08:27,830 --> 00:08:30,510 Speaker 3: could fill a need. And once you have that need 191 00:08:30,620 --> 00:08:32,980 Speaker 3: filled and you start making money from it, Now take 192 00:08:33,020 --> 00:08:34,679 Speaker 3: some of that money and start investing it in other 193 00:08:34,720 --> 00:08:35,540 Speaker 3: places so. 194 00:08:35,500 --> 00:08:38,000 Speaker 2: It could grow. And I'm going to just follow this up, Chantel. 195 00:08:38,600 --> 00:08:39,380 Speaker 6: Money is interesting. 196 00:08:39,559 --> 00:08:43,180 Speaker 1: Money is really interesting because it makes people make bad 197 00:08:43,240 --> 00:08:47,000 Speaker 1: decisions and good decisions. The bad decision is that if 198 00:08:47,040 --> 00:08:50,340 Speaker 1: you invest something that you can't lose. And a lot 199 00:08:50,360 --> 00:08:52,619 Speaker 1: of people don't understand that. See, you can invest if 200 00:08:52,960 --> 00:08:56,270 Speaker 1: your time is valuable, which it should be. People invest there, 201 00:08:56,309 --> 00:08:58,530 Speaker 1: but they don't understand that investment that you can lose. 202 00:08:58,550 --> 00:09:00,559 Speaker 1: You can't get time back. And so when you put 203 00:09:00,600 --> 00:09:03,660 Speaker 1: it out there, and so people understand that money is 204 00:09:04,340 --> 00:09:08,230 Speaker 1: the same thing. And so I run the opportunity route, too. 205 00:09:08,280 --> 00:09:10,250 Speaker 1: I would tell people all the time, I said, when 206 00:09:10,270 --> 00:09:12,810 Speaker 1: I go in the grocery store, my goal has always 207 00:09:12,870 --> 00:09:16,330 Speaker 1: been I just buy what I want. I technically don't 208 00:09:16,570 --> 00:09:19,750 Speaker 1: even look at a price. Now, I do shop with coupons. 209 00:09:19,860 --> 00:09:21,260 Speaker 1: If I have some coupons, I go in there and 210 00:09:21,280 --> 00:09:24,340 Speaker 1: make sure if I got two eggs or 75 cents 211 00:09:24,460 --> 00:09:25,480 Speaker 1: off of some milk. 212 00:09:25,880 --> 00:09:27,760 Speaker 2: I will do that. That's when I'm looking for a price. 213 00:09:28,059 --> 00:09:29,199 Speaker 2: But technically, I'm just going in there. 214 00:09:29,220 --> 00:09:31,459 Speaker 1: But I'm also a guy who will take advantage of 215 00:09:31,500 --> 00:09:34,199 Speaker 1: an opportunity. And I'm just telling you is that just 216 00:09:34,300 --> 00:09:35,990 Speaker 1: reframe your thought process. 217 00:09:36,280 --> 00:09:37,750 Speaker 2: Don't use words like hustle. 218 00:09:37,790 --> 00:09:40,969 Speaker 1: Don't use words like scheme because you need to articulate 219 00:09:40,990 --> 00:09:43,689 Speaker 1: your conversation to people who appreciate the value of a plan. 220 00:09:44,330 --> 00:09:47,739 Speaker 1: And right now, just put your plan in action. Realize 221 00:09:47,890 --> 00:09:51,180 Speaker 1: your time is an investment. And then you should outline 222 00:09:51,179 --> 00:09:52,610 Speaker 1: your time with a schedule. 223 00:09:52,610 --> 00:09:54,780 Speaker 2: And that schedule has to be consistent. 224 00:09:54,780 --> 00:09:57,500 Speaker 1: And when it's consistent, like I said earlier, I get 225 00:09:57,500 --> 00:09:59,670 Speaker 1: up at 4.30 every day, Monday through Friday. That's my 226 00:09:59,730 --> 00:10:02,580 Speaker 1: winning time. Your winning time might be 5.30. Your winning 227 00:10:02,600 --> 00:10:05,080 Speaker 1: time might be 6.30. But what your winning time can't 228 00:10:05,100 --> 00:10:09,140 Speaker 1: be 4.30 on Tuesday, 6 o'clock on Wednesday, 7 o'clock 229 00:10:09,179 --> 00:10:11,180 Speaker 1: on Thursday, 3 o'clock on Friday. 230 00:10:11,580 --> 00:10:13,380 Speaker 2: Your body and your mind will be whacked. 231 00:10:13,679 --> 00:10:15,939 Speaker 1: And so I just want you to understand that thank 232 00:10:15,980 --> 00:10:19,060 Speaker 1: you for calling the show today. But call back and 233 00:10:19,120 --> 00:10:20,980 Speaker 1: be a friend of the show because what we want 234 00:10:21,000 --> 00:10:24,329 Speaker 1: to do here is elevate your thought process to know 235 00:10:24,370 --> 00:10:27,550 Speaker 1: that you can win by getting information off our show, 236 00:10:27,630 --> 00:10:30,429 Speaker 1: Money Making Conversation, and you can win by listening to WCLK. 237 00:10:30,570 --> 00:10:31,490 Speaker 2: Is that all right, Chantel? 238 00:10:32,530 --> 00:10:33,329 Speaker 8: Most definitely. 239 00:10:33,390 --> 00:10:35,840 Speaker 4: I guess I want to say to be able to 240 00:10:35,890 --> 00:10:38,280 Speaker 4: put back into my 401. My dad had to break 241 00:10:38,300 --> 00:10:41,660 Speaker 4: it down. I was clueless and didn't know that. investing 242 00:10:41,700 --> 00:10:44,360 Speaker 4: into your 401 is not only coming out of a paycheck. 243 00:10:44,760 --> 00:10:46,240 Speaker 4: I thought, I didn't know that it could just come 244 00:10:46,280 --> 00:10:49,469 Speaker 4: out of your pocket and be put back into investing 245 00:10:49,500 --> 00:10:51,689 Speaker 4: and retiring. I was new to that. Like, Oh really? 246 00:10:51,730 --> 00:10:53,829 Speaker 4: I didn't, I wasn't just made aware, you know, you 247 00:10:53,850 --> 00:10:55,670 Speaker 4: don't learn these things in high school and all my 248 00:10:55,710 --> 00:10:58,130 Speaker 4: passion is to have the business and to have different 249 00:10:58,170 --> 00:11:01,710 Speaker 4: entities under it. That would be my, my, my, and 250 00:11:01,750 --> 00:11:04,270 Speaker 4: to help out others, you know, where I can, maybe 251 00:11:04,309 --> 00:11:06,630 Speaker 4: we can split and go on to the next ATM 252 00:11:06,690 --> 00:11:09,710 Speaker 4: or the next endeavor. I want to give back as well, or, 253 00:11:09,990 --> 00:11:13,230 Speaker 4: you know, kind of, put somebody on to, you know, 254 00:11:13,250 --> 00:11:16,770 Speaker 4: a business as well. So they're able to also make 255 00:11:16,820 --> 00:11:17,400 Speaker 4: passive income. 256 00:11:17,580 --> 00:11:19,880 Speaker 3: Yeah, and the one thing I would say, Chantel, is 257 00:11:19,900 --> 00:11:24,800 Speaker 3: really about the research, you know, because whatever you focus on, 258 00:11:24,880 --> 00:11:29,360 Speaker 3: there's somebody right now who's making millions of dollars by 259 00:11:29,380 --> 00:11:32,020 Speaker 3: selling plastic pens, right? And so it's really what you 260 00:11:32,080 --> 00:11:34,880 Speaker 3: focus on. And so understanding... what it's going to take 261 00:11:34,940 --> 00:11:38,810 Speaker 3: to invest in the ATM business, what time you have 262 00:11:38,830 --> 00:11:42,010 Speaker 3: to dedicate to it, and then also what the returns 263 00:11:42,090 --> 00:11:46,010 Speaker 3: are and if you're willing to do what it takes. 264 00:11:45,250 --> 00:11:46,810 Speaker 2: Or are you going to have to hire someone. 265 00:11:46,950 --> 00:11:49,650 Speaker 3: So really, as Rashawn mentioned, it's really the plan and 266 00:11:49,690 --> 00:11:51,750 Speaker 3: making sure you have the plan first. And then once 267 00:11:51,770 --> 00:11:54,670 Speaker 3: you have the plan and once the plan is sound 268 00:11:54,820 --> 00:11:55,700 Speaker 3: and it's viable, I. 269 00:11:56,120 --> 00:11:57,500 Speaker 2: Would say execute and invest. 270 00:11:58,100 --> 00:12:02,640 Speaker 1: And execute with the whole idea that you cannot lose. 271 00:12:02,740 --> 00:12:05,520 Speaker 2: But if you lose, don't let it traumatize you. Because 272 00:12:05,600 --> 00:12:07,240 Speaker 2: I have lost. I have lost. 273 00:12:07,640 --> 00:12:09,339 Speaker 1: And I tell people all the time, that's why I 274 00:12:09,340 --> 00:12:11,439 Speaker 1: always try to share my flaws when I talk to people. 275 00:12:11,880 --> 00:12:13,640 Speaker 1: Because if you look at a person who always says 276 00:12:13,660 --> 00:12:16,020 Speaker 1: that he's successful all the time, he's lying. And if 277 00:12:16,040 --> 00:12:17,600 Speaker 1: you look at a person who doesn't want to share 278 00:12:17,640 --> 00:12:20,199 Speaker 1: their flaws, stop talking to them. And I want to 279 00:12:20,220 --> 00:12:22,459 Speaker 1: thank you, Chantel, for calling the show Money Making Conversations. 280 00:12:23,170 --> 00:12:25,880 Speaker 7: Please don't go anywhere. We'll be right back with more 281 00:12:26,000 --> 00:12:32,000 Speaker 7: Money Making Conversations Masterclass. Welcome back to the Money Making 282 00:12:32,059 --> 00:12:37,720 Speaker 7: Conversations Masterclass hosted by Rashawn McDonald. Money Making Conversations Masterclass 283 00:12:37,840 --> 00:12:43,910 Speaker 7: continues online at moneymakingconversations.com and follow Money Making Conversations Masterclass 284 00:12:44,070 --> 00:12:45,970 Speaker 7: on Facebook, Twitter, and Instagram. 285 00:12:47,410 --> 00:12:49,990 Speaker 1: I got people talking, sending my number for me, saying 286 00:12:50,010 --> 00:12:52,170 Speaker 1: my name, Money Making Conversations. 287 00:12:52,520 --> 00:12:52,780 Speaker 7: Dr. 288 00:12:52,820 --> 00:12:54,210 Speaker 2: George, he phrased, he blew it up. 289 00:12:54,880 --> 00:12:58,290 Speaker 1: Information is available on MoneyMakingConversation.com about him. 290 00:12:58,890 --> 00:13:03,390 Speaker 2: MoneyMakingConversation.com. Information is available about him. 291 00:13:03,670 --> 00:13:05,790 Speaker 1: If you go to the contact area and fill that out, 292 00:13:06,170 --> 00:13:07,960 Speaker 1: we'll definitely send the information. 293 00:13:07,600 --> 00:13:10,160 Speaker 2: Over to him. Like he said, did he say seven 294 00:13:10,200 --> 00:13:13,170 Speaker 2: decades ago? He said eight. Eight decades. He said 77. 295 00:13:13,140 --> 00:13:13,199 Speaker 5: 77. 296 00:13:13,170 --> 00:13:17,950 Speaker 2: Eight decades. Eight decades. Knowledge and wisdom. Well, you know, 297 00:13:17,990 --> 00:13:20,190 Speaker 2: we're not eight decades. Not yet. Not yet. But we 298 00:13:20,210 --> 00:13:20,830 Speaker 2: want to get there. 299 00:13:21,110 --> 00:13:23,130 Speaker 1: But Ash Cash, you know, like I was saying earlier, 300 00:13:23,170 --> 00:13:26,050 Speaker 1: you know, you're one of the nation's top financial educators, 301 00:13:26,380 --> 00:13:31,000 Speaker 1: personal finance expert, business coach, and motivational speakers. And that 302 00:13:31,040 --> 00:13:33,860 Speaker 1: whole motivational speaking part is what I want to get 303 00:13:33,920 --> 00:13:36,140 Speaker 1: into right now because so many people. 304 00:13:35,980 --> 00:13:38,960 Speaker 2: Want to hear the word, like in church now. They 305 00:13:38,980 --> 00:13:39,640 Speaker 2: want to hear the Bible. 306 00:13:40,679 --> 00:13:42,610 Speaker 1: So many people want to hear how to be successful 307 00:13:42,910 --> 00:13:44,550 Speaker 1: but don't want to put the work in or follow 308 00:13:44,570 --> 00:13:46,570 Speaker 1: the rules of the Bible. It's the same thing in 309 00:13:46,590 --> 00:13:49,570 Speaker 1: the financial world that you're in. People come up to you, 310 00:13:49,590 --> 00:13:52,740 Speaker 1: take photos with you, say, man, they want to give 311 00:13:52,760 --> 00:13:56,240 Speaker 1: you their business card. What frustrates you most? when people 312 00:13:56,300 --> 00:13:58,920 Speaker 1: don't do what you advise them to do. Because you 313 00:13:58,960 --> 00:14:00,859 Speaker 1: can't tell them what to do. You have to advise them. 314 00:14:01,090 --> 00:14:05,190 Speaker 3: Yeah, I think the most frustrating part is just people complaining. 315 00:14:06,230 --> 00:14:06,510 Speaker 7: You know? 316 00:14:07,070 --> 00:14:11,229 Speaker 2: Because here's the deal. Because we all have a choice, right? 317 00:14:12,070 --> 00:14:14,850 Speaker 2: Being broke... is difficult. 318 00:14:15,429 --> 00:14:17,590 Speaker 3: Being successful is difficult. 319 00:14:17,890 --> 00:14:20,230 Speaker 2: You just got to choose the difficult that you want. 320 00:14:20,510 --> 00:14:22,670 Speaker 2: And so if you choose the difficult that says, hey, 321 00:14:22,700 --> 00:14:23,420 Speaker 2: I'm going to be broke. 322 00:14:23,740 --> 00:14:25,540 Speaker 3: I'm not going to know how to take care of 323 00:14:25,600 --> 00:14:28,260 Speaker 3: my family, I'm going to worry about how to make 324 00:14:28,420 --> 00:14:30,720 Speaker 3: ends meet and things of that nature, and there's somebody 325 00:14:30,760 --> 00:14:35,150 Speaker 3: who's taking time to show you how to do that, 326 00:14:35,190 --> 00:14:37,610 Speaker 3: how to get to the next level of life, and 327 00:14:37,710 --> 00:14:41,050 Speaker 3: just to be somebody who is taking up that knowledge 328 00:14:41,090 --> 00:14:43,610 Speaker 3: and not implementing, I think that's the most frustrating part 329 00:14:44,150 --> 00:14:47,250 Speaker 3: because there's a lot of people out there that want 330 00:14:47,290 --> 00:14:51,120 Speaker 3: the information, who would love to have somebody give them 331 00:14:51,140 --> 00:14:54,500 Speaker 3: the information. And so if you are, you know, you know, 332 00:14:54,560 --> 00:14:57,000 Speaker 3: wasting time, you're, you're in the, you're in the way 333 00:14:57,340 --> 00:15:00,380 Speaker 3: of somebody else who is willing to implement. So other 334 00:15:00,400 --> 00:15:02,120 Speaker 3: than that, I think that's the frustrating part. But the 335 00:15:02,140 --> 00:15:05,020 Speaker 3: truth of the matter too is, you know, I also 336 00:15:05,080 --> 00:15:06,850 Speaker 3: know that it doesn't happen overnight, right? 337 00:15:06,930 --> 00:15:07,109 Speaker 6: Right. 338 00:15:07,430 --> 00:15:10,930 Speaker 3: And so I know that there are people who, you know, 339 00:15:11,110 --> 00:15:14,110 Speaker 3: what we're saying is shaking up their mindset, right? 340 00:15:14,360 --> 00:15:18,600 Speaker 2: Like Dr. Frazier says, don't waste your time on savings, right? 341 00:15:18,620 --> 00:15:21,300 Speaker 3: He didn't say that verbatim, but he's saying, listen, you 342 00:15:21,400 --> 00:15:24,250 Speaker 3: are wasting your time on, you know, if you're saving 343 00:15:24,290 --> 00:15:24,550 Speaker 3: your money. 344 00:15:24,570 --> 00:15:24,950 Speaker 2: Half a percent. 345 00:15:25,170 --> 00:15:25,370 Speaker 4: Right? 346 00:15:25,430 --> 00:15:26,510 Speaker 2: Half a percent, right? 347 00:15:26,550 --> 00:15:30,010 Speaker 3: So it's not even 1%, it's half of 8%, right? 348 00:15:30,450 --> 00:15:33,670 Speaker 3: And so as a former 15-year bank and executive, I 349 00:15:33,710 --> 00:15:36,530 Speaker 3: approve that message. But you got to think, right? You 350 00:15:36,550 --> 00:15:39,590 Speaker 3: got to think, in our neighborhood, that's what they told us. 351 00:15:39,610 --> 00:15:43,130 Speaker 3: They said, go to work, work hard, save your money. 352 00:15:43,710 --> 00:15:45,290 Speaker 3: But if you save your money, you're losing money. And 353 00:15:45,310 --> 00:15:49,030 Speaker 3: I think that it's a whole big paradigm shift that's happening. 354 00:15:49,330 --> 00:15:51,770 Speaker 2: And so I get it. We're shaking up people's world. 355 00:15:51,790 --> 00:15:52,670 Speaker 2: That's all they knew. 356 00:15:52,690 --> 00:15:57,170 Speaker 3: They Grandmothers and parents are telling them, save, save, save, save, save. 357 00:15:57,480 --> 00:16:00,920 Speaker 3: And now the paradigm is invest, invest, invest. And so 358 00:16:01,280 --> 00:16:03,560 Speaker 3: people might not get it on the first time. And 359 00:16:03,600 --> 00:16:07,200 Speaker 3: so for me, I'm happy that the conversations are happening. 360 00:16:07,220 --> 00:16:11,700 Speaker 3: The money-making conversations are happening. And I know eventually we 361 00:16:11,880 --> 00:16:13,320 Speaker 3: just got to make it. We got to keep having 362 00:16:13,340 --> 00:16:14,580 Speaker 3: the conversations until it becomes cool. 363 00:16:14,740 --> 00:16:18,680 Speaker 1: Like what Chantel was talking about, the 401K. Your employer 364 00:16:18,710 --> 00:16:20,790 Speaker 1: pays some, she pays some. Take it out of your check, 365 00:16:20,790 --> 00:16:23,010 Speaker 1: $ 50 a month. It adds up in a big way. 366 00:16:23,310 --> 00:16:29,290 Speaker 1: I got Eric from Chambly. He has a basic investment conversation. 367 00:16:29,390 --> 00:16:30,430 Speaker 2: Eric from Chambly. 368 00:16:30,750 --> 00:16:34,570 Speaker 1: You're on the call with Rashawn McDonald and financial guru 369 00:16:34,650 --> 00:16:36,620 Speaker 1: and motivator, Mr. 370 00:16:36,740 --> 00:16:38,220 Speaker 2: Ash Cash. What's your question? 371 00:16:38,640 --> 00:16:44,820 Speaker 8: Okay. Well, I mean, I'm an artist, and I also 372 00:16:45,000 --> 00:16:47,940 Speaker 8: want to try to work on licensing my art and 373 00:16:47,960 --> 00:16:52,700 Speaker 8: promoting it, but that's my passion, to make money. But 374 00:16:54,720 --> 00:16:55,460 Speaker 8: All the things. 375 00:16:55,280 --> 00:16:58,840 Speaker 5: That you're talking about, I don't know anything about. I can't, 376 00:16:59,300 --> 00:17:02,540 Speaker 5: I don't know the basics of it, you know, to say, okay, 377 00:17:02,950 --> 00:17:05,570 Speaker 5: I'm going to add water and sugar and I can 378 00:17:05,590 --> 00:17:06,890 Speaker 5: start making a money cake. 379 00:17:07,130 --> 00:17:07,270 Speaker 6: Yep. 380 00:17:08,230 --> 00:17:10,649 Speaker 2: Yeah, yeah. So, Eric, thank you for that. You know 381 00:17:10,670 --> 00:17:12,330 Speaker 2: what I'm saying? Yeah, yeah, no, for sure. 382 00:17:12,369 --> 00:17:14,860 Speaker 3: And thank you for that vulnerability, right? What I would 383 00:17:14,880 --> 00:17:17,960 Speaker 3: say is this. I would say make sure that you 384 00:17:17,980 --> 00:17:21,399 Speaker 3: have a financial plan. And what does that mean? You know, 385 00:17:21,440 --> 00:17:24,790 Speaker 3: when you get paid, whatever you do, whether... You still 386 00:17:24,830 --> 00:17:26,730 Speaker 3: have a nine to five, whether it's your art, whenever 387 00:17:26,750 --> 00:17:29,850 Speaker 3: you get paid, what I want you to do is put. 388 00:17:29,770 --> 00:17:31,650 Speaker 2: A certain amount aside. Right. 389 00:17:31,730 --> 00:17:35,610 Speaker 3: And so whether it's 30 percent, 20 percent, 10 percent, 390 00:17:36,010 --> 00:17:38,150 Speaker 3: find out an amount that you're comfortable with. 391 00:17:38,530 --> 00:17:39,370 Speaker 2: Put that aside. 392 00:17:39,750 --> 00:17:41,189 Speaker 3: And the first thing you're going to do is you're 393 00:17:41,210 --> 00:17:43,189 Speaker 3: going to you're going to start building what I like 394 00:17:43,230 --> 00:17:45,970 Speaker 3: to call your financial freedom fund. And what that means 395 00:17:46,170 --> 00:17:49,149 Speaker 3: is start to build up an account that's six to 396 00:17:49,230 --> 00:17:52,359 Speaker 3: eight months of expenses, right? And so we're not saying 397 00:17:52,420 --> 00:17:55,920 Speaker 3: savings accounts are bad. We're saying they're actually good because 398 00:17:55,960 --> 00:17:58,820 Speaker 3: they can save you, you know, in case of an emergency. 399 00:17:59,080 --> 00:18:02,310 Speaker 3: So start building a financial freedom fund. But then also 400 00:18:02,369 --> 00:18:05,889 Speaker 3: what you need to start doing is while you're building 401 00:18:05,910 --> 00:18:08,830 Speaker 3: that financial freedom fund, the truth of the matter is 402 00:18:08,869 --> 00:18:11,429 Speaker 3: that no one's going to become financially free unless If 403 00:18:11,450 --> 00:18:14,660 Speaker 3: they don't invest, if they don't change their relationship with money, 404 00:18:14,960 --> 00:18:17,420 Speaker 3: because right now our relationship is that we're going to 405 00:18:17,560 --> 00:18:20,280 Speaker 3: work hard for money. But the true relationship should be 406 00:18:20,380 --> 00:18:22,910 Speaker 3: money should work hard for you. And the only way 407 00:18:22,930 --> 00:18:24,250 Speaker 3: that happens is if you invest. 408 00:18:24,310 --> 00:18:24,530 Speaker 4: Right. 409 00:18:24,869 --> 00:18:27,790 Speaker 3: And so as you're building your financial freedom fund. start 410 00:18:27,810 --> 00:18:30,429 Speaker 3: to put money aside that you're going to start investing. 411 00:18:30,790 --> 00:18:33,650 Speaker 3: And the good thing about doing it every time you 412 00:18:33,670 --> 00:18:36,560 Speaker 3: get paid is that you're not just taking a lump sum. 413 00:18:36,800 --> 00:18:38,880 Speaker 2: You're doing what's called dollar cost averaging. 414 00:18:39,119 --> 00:18:41,659 Speaker 3: So whether you're investing in crypto, if you're investing in 415 00:18:41,880 --> 00:18:44,780 Speaker 3: the stock market, whatever you're investing in, you're actually doing 416 00:18:44,800 --> 00:18:47,060 Speaker 3: it on a periodic basis. And as you do it 417 00:18:47,080 --> 00:18:50,560 Speaker 3: on that periodic basis, it's actually going to grow for you. 418 00:18:50,920 --> 00:18:53,679 Speaker 3: But the number one thing before you invest a dollar is, 419 00:18:54,359 --> 00:18:59,889 Speaker 3: is to understand, to have the information, the knowledge on 420 00:18:59,930 --> 00:19:00,670 Speaker 3: how to invest. 421 00:19:00,970 --> 00:19:03,190 Speaker 2: And so there are tons of podcasts out there. 422 00:19:03,990 --> 00:19:08,489 Speaker 3: There's a lot of financial shows out there. There are 423 00:19:08,650 --> 00:19:11,970 Speaker 3: free resources on YouTube that can actually teach you the 424 00:19:12,090 --> 00:19:15,200 Speaker 3: basics of how to get into it. I would start there, 425 00:19:15,220 --> 00:19:18,720 Speaker 3: and then you start to build from there. 426 00:19:18,900 --> 00:19:21,020 Speaker 2: Absolutely. I just wanted to say this. 427 00:19:21,480 --> 00:19:24,570 Speaker 8: On my end right now, I've got... I've got a 428 00:19:24,619 --> 00:19:28,090 Speaker 8: little bit of money sitting in a drawer doing nothing. 429 00:19:28,790 --> 00:19:30,290 Speaker 2: I hope it's not really sitting in a drawer. It's 430 00:19:30,310 --> 00:19:33,950 Speaker 2: not really in a drawer, is it? It's in a drawer. Okay, cool. 431 00:19:33,970 --> 00:19:37,109 Speaker 2: We really need to talk offline. And don't let nobody 432 00:19:37,250 --> 00:19:38,430 Speaker 2: track this phone either. 433 00:19:38,690 --> 00:19:41,310 Speaker 1: Because I don't need to be on Channel 5 tonight 434 00:19:41,590 --> 00:19:43,670 Speaker 1: because somebody did a 69 on my number. 435 00:19:44,750 --> 00:19:47,300 Speaker 8: You say it's doing you know i'm saying this money 436 00:19:47,400 --> 00:19:51,139 Speaker 8: is just it's doing nothing i mean it's only like 437 00:19:51,140 --> 00:19:53,080 Speaker 8: 1500 but it's doing nothing. 438 00:19:52,780 --> 00:19:54,659 Speaker 1: Right but that's money though there could be some did 439 00:19:54,680 --> 00:19:57,750 Speaker 1: you not hear what what they just take 300 and 440 00:19:57,869 --> 00:20:00,409 Speaker 1: go to cryptocurrency i just want to give this advice 441 00:20:00,450 --> 00:20:02,409 Speaker 1: to you and everybody because we want to go to 442 00:20:02,450 --> 00:20:04,550 Speaker 1: some more callers and i thank everybody for calling in 443 00:20:04,609 --> 00:20:07,390 Speaker 1: on the show And especially thank you because you're being 444 00:20:07,450 --> 00:20:09,590 Speaker 1: honest about yourself. And the only way you can move 445 00:20:09,630 --> 00:20:13,460 Speaker 1: ahead is being honest about your situation. What always drives 446 00:20:13,540 --> 00:20:17,419 Speaker 1: me is about people who go to church, they're tired. Well, see, 447 00:20:17,460 --> 00:20:20,480 Speaker 1: God teaches you how to save. He gives you the 448 00:20:20,540 --> 00:20:22,740 Speaker 1: discipline to save, but you do it for the church, 449 00:20:22,760 --> 00:20:23,560 Speaker 1: but you don't do it for yourself. 450 00:20:24,100 --> 00:20:25,320 Speaker 2: So you take that same discipline. 451 00:20:25,340 --> 00:20:27,220 Speaker 1: So when I tell people who are in the church, 452 00:20:27,640 --> 00:20:29,060 Speaker 1: put a little money inside, they look at me like, 453 00:20:29,080 --> 00:20:29,940 Speaker 1: I ain't got no money. 454 00:20:30,280 --> 00:20:33,280 Speaker 2: But you got money for church, though. So I'm telling you, take. 455 00:20:33,140 --> 00:20:35,780 Speaker 1: That same principle, that same discipline that you have for 456 00:20:35,859 --> 00:20:37,700 Speaker 1: church and apply it to yourself. 457 00:20:38,040 --> 00:20:42,100 Speaker 2: And you'll win twice. The God blessing and the personal blessing. 458 00:20:42,400 --> 00:20:43,200 Speaker 2: That's all I'm saying. 459 00:20:43,420 --> 00:20:45,100 Speaker 1: And so if you take advantage of that knowledge that 460 00:20:45,140 --> 00:20:47,040 Speaker 1: we're trying to give you and what you want to 461 00:20:47,060 --> 00:20:50,260 Speaker 1: win with is that I value your call. I value 462 00:20:50,280 --> 00:20:53,110 Speaker 1: your knowledge. But the discipline is what most people make 463 00:20:53,140 --> 00:20:54,940 Speaker 1: a mistake on. And I just wanted to do a 464 00:20:55,010 --> 00:20:57,070 Speaker 1: shout-out to the people who go to church, to the 465 00:20:57,090 --> 00:20:59,350 Speaker 1: people who do tithe. Those are the same people. 466 00:20:59,390 --> 00:21:01,609 Speaker 2: And you know Ash will tell you, I don't know 467 00:21:01,650 --> 00:21:02,450 Speaker 2: how I'm going to do that. 468 00:21:02,850 --> 00:21:05,230 Speaker 1: I don't know how I'm going to pull together $ 20 469 00:21:05,190 --> 00:21:07,930 Speaker 1: a week when you're giving $ 20 to the church every week. 470 00:21:08,310 --> 00:21:10,830 Speaker 1: And that's $ 40. All I'm saying is $ 50 a month. 471 00:21:11,130 --> 00:21:14,480 Speaker 1: So you can get to that $ 50. And so all 472 00:21:14,500 --> 00:21:16,700 Speaker 1: I've ever said and all Ash Cash is always saying 473 00:21:16,760 --> 00:21:19,480 Speaker 1: is common sense. That's why I love this brother. He 474 00:21:19,520 --> 00:21:22,080 Speaker 1: talks from a common sense perspective. Now we have Donald 475 00:21:22,140 --> 00:21:22,820 Speaker 1: and Conyers. 476 00:21:23,260 --> 00:21:25,379 Speaker 2: He's a disabled veteran. How you doing, and thank you 477 00:21:25,400 --> 00:21:26,780 Speaker 2: for serving our country. How you doing, Donald? 478 00:21:28,440 --> 00:21:30,620 Speaker 6: I'm good, I'm good. How are you, Rashad? 479 00:21:30,980 --> 00:21:31,440 Speaker 2: I'm really good. 480 00:21:31,460 --> 00:21:33,060 Speaker 1: You're on the call with Ash Cash, and of course, 481 00:21:33,140 --> 00:21:34,460 Speaker 1: I'm Rashad McDonald. 482 00:21:34,600 --> 00:21:35,219 Speaker 2: What's your question? 483 00:21:36,790 --> 00:21:40,330 Speaker 6: Yes, I was asking, as a veteran on a fixed income, 484 00:21:41,330 --> 00:21:44,310 Speaker 6: how would I get into the game? I'm unemployable, so 485 00:21:44,330 --> 00:21:47,450 Speaker 6: I'm not able to work. I just get a fixed 486 00:21:47,530 --> 00:21:50,250 Speaker 6: income every month, so how would I be able to 487 00:21:50,290 --> 00:21:53,550 Speaker 6: get into that and not Yeah, now that's a great question. 488 00:21:58,420 --> 00:22:00,510 Speaker 3: And thank you for your service. So what I would 489 00:22:00,570 --> 00:22:03,830 Speaker 3: say is similar to what I was telling Mr. Eric 490 00:22:04,450 --> 00:22:07,050 Speaker 3: was really, you know, really about, you know, taking money 491 00:22:07,350 --> 00:22:07,950 Speaker 3: from the side. 492 00:22:08,010 --> 00:22:08,290 Speaker 2: Right. 493 00:22:09,350 --> 00:22:11,330 Speaker 3: And what happens is, though, when you are on a 494 00:22:11,369 --> 00:22:13,430 Speaker 3: fixed income, there's only two two ways. 495 00:22:13,520 --> 00:22:13,710 Speaker 6: Right. 496 00:22:13,760 --> 00:22:16,240 Speaker 2: That you could or three ways to increase your bottom line. 497 00:22:16,660 --> 00:22:21,919 Speaker 3: You either decrease expenses, increase your income or do both things. 498 00:22:21,980 --> 00:22:22,200 Speaker 7: Right. 499 00:22:22,500 --> 00:22:24,580 Speaker 3: And so if you're on a fixed income, what I 500 00:22:24,619 --> 00:22:26,540 Speaker 3: would say is the first thing is to look at 501 00:22:26,580 --> 00:22:29,670 Speaker 3: your expenses first. and see what ways that you could 502 00:22:29,710 --> 00:22:32,120 Speaker 3: cut back some, right? What ways can you. 503 00:22:32,130 --> 00:22:34,100 Speaker 2: I can't really hear you. 504 00:22:34,180 --> 00:22:38,100 Speaker 3: I said what ways that you could cut back on expenses, 505 00:22:38,960 --> 00:22:43,780 Speaker 3: because as you're cutting back on expenses, you now make 506 00:22:43,859 --> 00:22:46,899 Speaker 3: way for some income, and then you use that income, 507 00:22:46,920 --> 00:22:49,399 Speaker 3: because what happens is this. Once you cut back, and 508 00:22:49,500 --> 00:22:51,360 Speaker 3: even if you're cutting back on expenses, it doesn't have 509 00:22:51,380 --> 00:22:54,239 Speaker 3: to be permanently. It could be temporarily, so that way 510 00:22:54,280 --> 00:22:57,219 Speaker 3: you can gain... you know, some money to invest. And 511 00:22:57,290 --> 00:22:59,610 Speaker 3: while you're investing and making your money work for you 512 00:22:59,910 --> 00:23:03,210 Speaker 3: and that money starts to grow, now you're building money 513 00:23:03,430 --> 00:23:06,150 Speaker 3: that you have access to that you could either put 514 00:23:06,270 --> 00:23:09,830 Speaker 3: back into the investment and let it keep growing or 515 00:23:09,950 --> 00:23:12,580 Speaker 3: if you wanted to supplement that expense, you can. But 516 00:23:12,859 --> 00:23:16,380 Speaker 3: so I would say start with decreasing your expense, see what, 517 00:23:16,600 --> 00:23:19,219 Speaker 3: you know, what things you're spending money on that could 518 00:23:19,240 --> 00:23:23,180 Speaker 3: potentially be decreased and then, you know, start to look 519 00:23:23,220 --> 00:23:24,080 Speaker 3: into investing money. 520 00:23:24,200 --> 00:23:25,119 Speaker 2: And I'm going to add this to you. 521 00:23:25,180 --> 00:23:27,620 Speaker 1: A lot of people don't realize that sometimes you don't 522 00:23:27,660 --> 00:23:30,230 Speaker 1: try to invest by yourself. Get a group of people 523 00:23:30,270 --> 00:23:32,889 Speaker 1: together and start educating yourself, four or five people. If 524 00:23:32,910 --> 00:23:35,149 Speaker 1: you got $ 50, that means five of y'all. 525 00:23:34,770 --> 00:23:35,310 Speaker 2: Have $ 250. 526 00:23:35,130 --> 00:23:38,969 Speaker 1: That can be invested as a group. Now you're investing $ 250, 527 00:23:38,910 --> 00:23:43,590 Speaker 1: so you're not investing your $ 250. Plus you have other 528 00:23:43,630 --> 00:23:47,220 Speaker 1: people doing research for you, also investing their time because 529 00:23:47,240 --> 00:23:49,560 Speaker 1: their $ 50 means something to you. So I would say 530 00:23:49,640 --> 00:23:52,480 Speaker 1: take the advice that Ash gave you, But also, if 531 00:23:52,520 --> 00:23:53,120 Speaker 1: you have. 532 00:23:52,940 --> 00:23:55,700 Speaker 2: Some people start, don't get in the game quick. There's 533 00:23:55,760 --> 00:23:56,260 Speaker 2: no rush. 534 00:23:56,619 --> 00:23:58,740 Speaker 1: What bothers me about people, they get a certain age, 535 00:23:58,760 --> 00:24:00,919 Speaker 1: they feel like, yeah, I got to hurry up and 536 00:24:00,940 --> 00:24:01,250 Speaker 1: get there. 537 00:24:01,270 --> 00:24:04,210 Speaker 2: No, I don't care if you're 60, 70, 80. Take 538 00:24:04,290 --> 00:24:04,909 Speaker 2: your time. 539 00:24:05,410 --> 00:24:08,030 Speaker 1: If you rush life, life will end for you because 540 00:24:08,050 --> 00:24:10,230 Speaker 1: you're in a hurry. I am not in a hurry 541 00:24:10,250 --> 00:24:12,190 Speaker 1: to do nothing. I drive slow. 542 00:24:12,600 --> 00:24:13,380 Speaker 2: I eat fast, though. 543 00:24:13,450 --> 00:24:15,139 Speaker 1: I do eat fast, though, because I come from a 544 00:24:15,180 --> 00:24:17,260 Speaker 1: big family, six sisters, two brothers. When you come from 545 00:24:17,300 --> 00:24:19,639 Speaker 1: a big family, you learn to eat fast, brother. But 546 00:24:19,720 --> 00:24:23,600 Speaker 1: I tell you this, you're a blessing in this conversation 547 00:24:23,640 --> 00:24:26,750 Speaker 1: because you're the typical person who comes in who says, 548 00:24:26,869 --> 00:24:29,830 Speaker 1: I don't have enough. Well, you do if you have friends, 549 00:24:29,890 --> 00:24:32,790 Speaker 1: if you have relatives who are willing to sign a contract. 550 00:24:33,350 --> 00:24:35,390 Speaker 1: Don't ever just give somebody your money. 551 00:24:35,590 --> 00:24:35,950 Speaker 6: Oh, yeah. 552 00:24:36,270 --> 00:24:36,670 Speaker 2: Everybody. 553 00:24:37,050 --> 00:24:38,970 Speaker 1: I fired my brother, fired my sister. I fired a 554 00:24:39,020 --> 00:24:41,300 Speaker 1: lot of relatives because I went down that route, thought 555 00:24:41,320 --> 00:24:42,800 Speaker 1: they loved me, and then they didn't want to show 556 00:24:42,820 --> 00:24:44,659 Speaker 1: up for work. So I know what you have to 557 00:24:44,700 --> 00:24:46,690 Speaker 1: do to get people committed. But all I want to 558 00:24:46,710 --> 00:24:48,370 Speaker 1: do is thank you for calling on the show. We'll 559 00:24:48,390 --> 00:24:50,490 Speaker 1: be back next week. But, again, this is Money Making 560 00:24:50,540 --> 00:24:53,260 Speaker 1: Conversations Live. I appreciate you, man, because of the fact 561 00:24:53,300 --> 00:24:56,400 Speaker 1: that WCLK is giving me a live opportunity to talk 562 00:24:56,440 --> 00:24:59,500 Speaker 1: about this, opportunity to give you information. And I happen 563 00:24:59,520 --> 00:25:02,440 Speaker 1: to ask Cash on the show and the dean, the guru, 564 00:25:03,119 --> 00:25:03,660 Speaker 1: you know, Dr. 565 00:25:03,700 --> 00:25:05,490 Speaker 2: George C. Frazier on the show as me. That's all 566 00:25:05,550 --> 00:25:07,650 Speaker 2: a blessing. Thank you, and we'll be here next week. 567 00:25:07,830 --> 00:25:09,609 Speaker 2: Money Making Conversations, Rashad McDonald. 568 00:25:12,869 --> 00:25:15,210 Speaker 7: Thank you for joining us for this edition of Money 569 00:25:15,260 --> 00:25:21,560 Speaker 7: Making Conversations Masterclass. Money Making Conversations Masterclass with Ruchon McDonald 570 00:25:21,680 --> 00:25:26,810 Speaker 7: is produced by 3815 Media Inc. More information about 3815 571 00:25:26,810 --> 00:25:30,890 Speaker 7: Media Inc. is available at 3815media. 572 00:25:29,690 --> 00:25:30,890 Speaker 2: Com. 573 00:25:31,170 --> 00:25:33,770 Speaker 7: And always remember to lead with your gifts.