Timeless & Unfiltered
Welcome to Timeless & Unfiltered, the podcast where we keep it real, raw, and refreshing for women in midlife. This channel dives into the joys and challenges of midlife with humor, honesty, and heart. From navigating menopause, dating, and fashion to tackling health, relationships, and rediscovering passions, we cover it all—nothing is off-limits!
Whether you’re laughing with us, learning something new, or simply enjoying the ride, Timeless & Unfiltered is here to remind you that life doesn’t slow down at 40—it gets better. Hit that subscribe button and join our community of unstoppable women living their best, boldest lives!
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Timeless & Unfiltered
Money Getting Funny: Midlife in today's economy
Midlife career change, financial freedom after 50, and retirement planning in today’s economy—this episode of Timeless & Unfiltered is your survival guide to thriving in midlife. Whether you're in your 40s, 50s, or beyond, it’s time to pivot, rebuild, and secure the bag! 💼🔥
🎙️ Timeless & Unfiltered Podcast | Episode 11
Feeling the pressure of inflation, job insecurity, or a late start to retirement savings? You’re not alone—and you’re NOT too late. This week, we dive deep into the best strategies for financial security after 40, including how to start over, build wealth, and create new income streams in uncertain times.
We’re talking:
🔄 How to pivot your career or start a business in midlife
💼 High-impact side hustles and digital business ideas
🧠 Money mindset shifts for long-term success for Gen X and Boomers
🔥 Real stories. Real strategy. Real talk for midlife bosses.
👑 This is your season to rise. Don’t just survive—thrive.
Midlife isn’t the end. It’s the upgrade.
👇 DROP A COMMENT 👇
What’s one way you’re pivoting to secure your future in this economy?
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The days of retiring from a company.
Speaker 2:I don't want to say it's long gone but it is, it is, but we got to retire. But it is it really?
Speaker 3:is, my mom didn't have a lot, but she had a lot, and so I learned from a real early age with her it really doesn't matter how much money you have, it's really what you do with it. I really don't know how she did it. She always made something out of nothing and I mean, that's a slang language that we say all the time, but like truthfully she did this is legra, this is stephanie, this is shere and this is Evania.
Speaker 2:And this is Timeless and Unfiltered, where we are spilling the tea on midlife, one laugh at a time. This is Timeless and Unfiltered. You guys Keeping it real. This is.
Speaker 4:Stephanie, this is Cherie.
Speaker 2:This is.
Speaker 4:Stephanie. This is Sharice. This is Evanya.
Speaker 2:And we got Stephanie over here putting her boobs in people's ears. I don't know what we doing.
Speaker 4:Not just people, not everybody. You're going to get a titty. You get a titty.
Speaker 2:You get a titty.
Speaker 4:You hear me now. Y'all so crazy.
Speaker 2:Y'all so crazy.
Speaker 4:We crazy, y'all so crazy, we gonna spill the tea on midlife, one last.
Speaker 1:That's how I gotta ring them back in, y'all, let me.
Speaker 2:Let me throw something out there, ring them back in, bring back the conversation before we start yes, oh, if y'all can really hear half the conversations we have to try to make sure we have conversations that we can air, because a lot of them we can't. But what are we talking about today, y'all?
Speaker 1:oh, surviving this economy, yeah, the struggles in this economy, midlife in this economy well, you brought this up, so let's go people being laid off. I've noticed a trend on social media laid off I know, yeah, two times in two years and it's like what just happened um the days of retiring from a company.
Speaker 1:I I don't want to say it's long gone but it is, it is, but we got to retire, but it is, yeah, it is, it's not, and I had been at this company for 10 years and that was the longest I held a job, and I was like I'm just going to retire and I really planned on just staying there and retiring. And then they said, yeah, 156 of y'all, we're letting you go. We're like what so? Um, I've noticed a trend on social media of people in midlife being let go from their jobs that they've had 30 years, 25 years, and I'm like, oh my god, what do you do? I don't. All you can do is try to pick up the pieces, but it's hard. Now, the good thing that I will say is that you can work for yourself.
Speaker 1:At this point, you can Uber door, dash there's something to do to kind of tide you over in between. We didn't have that back in the day, but I really don't remember a lot of layoffs happening back then.
Speaker 1:But yeah, it's hard for people that are being laid off and I just want to say this economy is hard on people period, because you have an influx of gas prices, food prices have increased, and then what I realize is I feel like my young adults are in my pockets a little more, and what I have to take into consideration they're not really making enough to be able to sustain, you know they've moved out on their own and they're like, oh gosh, we didn't. Of course they didn't anticipate the prices of gas going up.
Speaker 1:Food going up so like mom, can you spot me, 20, can you spot? And I'm like geez, so I'm having to do more for them as if they were like still in the house, and so that's taken away from my plan.
Speaker 4:I'm just like this is just crazy but it kind of affects you too, so they have to understand, like they don't make as much.
Speaker 3:I may not be making they don't either like, yeah, like that's why I'm going back home yeah see, we got two different, we kind of got two different things going on.
Speaker 2:I think that the two of you could really touch on because, like you said, you've been laid off twice in two years now see young. You being laid off would have been like.
Speaker 1:Well how did it, it turn, it was it. I was.
Speaker 1:The first time I was unemployed, probably two months so God helped me out on that one, because right when they laid everyone off, I was at the point because I was working remote and I said I'm gonna get me a second job. I was gonna be one of those remote workers that had two jobs and clearing well over six figures. That was my goal and I had picked another job and so I was supposed to start it the month after I got laid off. So my transition was easy, because I had just started the second job and started the second job and they were like, oh yeah, thanks, guys. We were like what? So then I was left with nothing. I think I was able to sustain because I was doing some work for you and you know unemployment ain't.
Speaker 4:Yeah, that was right in the middle of me decorating.
Speaker 1:Oh, that's. Oh yeah, okay, yeah, that was right in the middle of me decorating. So that was the blessing that I was able to sustain seven months unemployed because I was applying, applying, applying applying. I remember how frustrated you were, oh my gosh, because younger me, or not even younger me, I want to say a couple of years ago. I think about jobs like it was not a problem getting a job but because of tech and everyone wanting to get into tech, the market has become severely saturated.
Speaker 1:So the skills that I've had. Now I have a thousand more people competing for the same position that early on I would have been able to get with no problem, so it was just stressful. And then applying online through the regular means of trying to gain employment wasn't enough. I received a job through somebody I know. I had to start going outside of online to people like hey do you know anyone that's hiring?
Speaker 1:Hey do you know anyone that's hiring? And that was the only way I was able to get a job, and it was actually the job I got laid off for. It was someone on my team. I was his boss and it was a couple of people that were on my team and they found out I was unemployed and like four of them started Going hard, trying to go to their employees like she was a good boss. Blah, blah, blah. Do we have anything?
Speaker 1:for her and one of them hit and he was like listen, come over here, interview and I interview. And they're like, yeah, we're gonna bring you on. Thank you, jesus but just going the conventional way to gain a job wasn't enough, and even my job now is a contract position contract positions can end at any time.
Speaker 1:So I still don't have a permanent employment situation. I I'm still like Lord. What am I about to do? Which is why I'm trying to go so hard outside of trying to do serial entrepreneurship something else? Because I don't even know how long this is going to last. They renew it every six months.
Speaker 4:They may figure the next six months. You know what? We don't need her.
Speaker 1:And then I'm back to square one. It's oh my gosh, and I've still been actively placing resumes out there for a year and a half and I haven't gotten any hits in a year and a half. And I don't know if it's a ageism thing. I don't want to believe that, but I believe that you know. So they tell us to tailor back some things on our resume to not show your age, because I have plenty of experience, and I'm like, why is no? One calling me, it's just it's it's scary.
Speaker 4:How do you prepare for every six months, knowing that you don't know if you'll have a job or not? Do you do anything now? Or any tools?
Speaker 1:I'm not prepared no, I'm not gonna lie, I'm not prepared, because I'm still trying to help my kids. I'm still trying to catch up on past due. When I was laid off, yeah, I got behind on all of my bills, and so I'm still trying to play catch up with all of that. And I'm just like, oh gosh, no, I don't. Honestly, I don't know what the hell I would do. I just I'm like Lord, you got me through, he gets me through, and that's why I just have to keep having faith and just keep trying to figure out another way to make more money, because I just one thing I will suggest is I use the company called budget besties and actually found them on a podcast and they helped me create a budget, and so my income fluctuates every month like I don't know.
Speaker 4:It could be high, it could be low, and so she helped me set up a budget to where I know my basic bills are paid every month because I know the minimum that.
Speaker 1:I'll get is this amount?
Speaker 4:yeah, and anything over that is going to go this bucket here, this bucket there. I can have some spending, my GLAM account and all that stuff. So that really helped me out. So now I'm like a month ahead on all my bills. I used to do that when I was younger and I had all of them, and then I got really far behind, but now I'm a month ahead, so I know if something happens like I'm not contracting, Luckily I a really good season right now.
Speaker 4:Like I have too much work, I need to probably turn stuff down. So I'm like, now that I'm in this season, let me take care of stuff in the future. So if something else happens, you know a couple months down the line. I know I got at least a month in the bank where I'm good, I just got to catch up. Yeah, so I will recommend budgeting, if you can.
Speaker 1:But that's why I contemplated selling my house. I was like you know what, let me just sell and get this money and then just rent and pay all these people off. Have you know, some savings, invest in some things, but hell, rent, rent is higher than your mortgage. It's higher than my mortgage and I was like no, it is. And then I'm not in a position to refinance because my credit is shot for me, losing job and getting behind on my my payments and got late, so they're like, yeah, we're not.
Speaker 1:What is the purpose of having a house if you get in a situation?
Speaker 2:and can't you I can't use.
Speaker 1:It's an asset to me, but I can't utilize it but then I told you, someone did say okay, yeah, we'll let you on pull some money out but then they want 30,000 out and they wanted so much of it or something.
Speaker 2:Well, no it was.
Speaker 1:I could pull the 30 000 out, but my mortgage was going to increase by 900 and then after closing I was only going to walk away with 15 000 that don't make sense for me. It's like you're trying to put me in a more jacked up situation.
Speaker 2:So I'm like you know but a lot that's that, a lot of that predatory. Yeah, because people are so desperate they only see that immediate fix.
Speaker 1:Yeah, and I was like damn that I try to get work on my credit and keep trying to save and just no, it's just, yeah, it's just it's terrible, wow, but I do know if, at the end of the day, my house is an asset and, where I chose to live, I have plenty of equity in it and it just keeps growing. So if my back was ever against the wall, it's yeah, go ahead and sell and you'll be able to walk away with some money and come sleep on somebody's floor.
Speaker 4:We'll go to Costa Rica and cost like $500,000. I can live. I can live real good.
Speaker 1:Yeah, that's my backup plan. At this point, if I have to, I just have to sell my house. Oh, my goodness.
Speaker 4:Honestly, that's mine too Now from the opposite side.
Speaker 2:I'm switching back over here to you, because now you're preparing for retirement in this economy, right.
Speaker 3:I'm good Like what.
Speaker 4:I got this, I mean but-.
Speaker 2:What do you prepare? Some of the things you're doing to prepare. My house is paid off, which is a blessing, yeah.
Speaker 3:I just did my due diligence, to be honest. But you know what I mean? It was different, but I just did my due diligence. I don't even know where I learned it from. Well, no, I got it from my mom because, to be honest, my mom didn't have a lot, but she had a lot because, and so I learned from a real early age with her. It really doesn't matter, um, how much money you have, it's really what you do with it, yeah. And so I don't know, I really don't know how she did it, um, but she used to bartend and make a lot of tips and that lady used to take them quarters and and that change and that stuff, and she just did a lot. So I learned you don't even realize this when you're a kid, you know you become your parents because she always made something out of nothing and I mean that's a slang language that we say all the time but, like truthfully, yeah she did. And so, yeah, I really learned that trait with her and I used to always say I'm cheap and I'm like, no, I'm really not cheap, I'm a bit frugal and I pay attention to like finances and everything.
Speaker 3:So, just at a very young age, like I like at 22 I started, you know, the pension and the 401s, and it never came out of it, you know. And and even when I bought my house, I was like, okay, I'm not doing a 30-year plan, I'm doing a 15-year plan. And then when I do that 15-year plan, you know I'm a because I don't but I don't like bills and credit, because when we were young we were evicted and I was a, I was young, I had t trauma and weak trauma and we were um put out, like literally just put out um, and had to figure out where we were going to go. Yeah, and that's no shade to my mom, it's just where we were at the time and I was devastated and.
Speaker 3:I had a, I had a baby with me and, um, I just swore that that would never happen again. And in all my life of working, there was only one time when I didn't know my rent was going to come from once and I borrowed that from a friend who car lease.
Speaker 3:Who um gave it. You know I paid her back. But some of the most traumatic experiences shaped me and how I think about money and the things that I do. And I just had a child and I swore I would never be in a position where she didn't have somewhere to lay her head and so I just managed.
Speaker 1:I just managed different um it seems like you learned early on. Yeah, I learned early.
Speaker 3:I watched my mom and then I was just so young and and I, but I paid attention out of out of bad things happening. It wasn't like somebody taught me, so to speak. I just said what are the things that I do so that this doesn't happen to me, right, and then. But we look at the economy today. Right, these folks, these young folks, don't have a chance. So like we really have to extend grace to them. So like when you say my kids call me and they want 20 and whatever, whatever. And I know, like you said, but they got to understand the economy is bad for you too, and it is, it is, but they're still our children.
Speaker 4:Yeah, but I see what they're buying sometimes too, but that's a difference, right? Oh yeah, we lost the gas. No, no, no.
Speaker 3:So you're right, you still have to have discernment, because every single one is different, like you can look and you can see. Ok, yeah, you know everybody's different, but at the end of the day, I don't, I, don't, I, I don't, I don't, I, I don't now these kids have a lot of sense of entitlement.
Speaker 3:These days. It's a lot going on we have to pay attention to, but at the end of the day, this economy I don't know how they're doing it like for real, for real it is not set up to support them and I could really understand anger. I could see why they're angry because it's I mean, think about it a house right now, 260.
Speaker 4:I mean they start up, but no wait, but somebody's like I see younger kids living in neighborhood like he's eight hundred thousand dollar houses.
Speaker 2:I'm like what the year and see my opinion is actually but that's all they're offered.
Speaker 3:I mean you. I mean they don't have houses at a certain rate anymore, so you kind of have to start at at a certain thing, you had to have income to show that you can afford this house. So I'm like or not, because, like with the predatory, well there's that.
Speaker 3:But then there's also when you make this and they're I'm not, I'm not for it or against it. I'm gonna just say that, right, but what I'm saying is they'll look at a base income and everything else is not considered right. And then they say, okay, you qualify for. You know this, this size house and these people get in these houses and they can't afford them. They can't keep it. They can't keep it. But honestly, depending on where you live and all of the factors that go behind it, that's the setup. The setup is to give you the loan because we know you're not going to be able to keep it and we're just going to get it back anyway it's terrible.
Speaker 1:I mean my mortgage just went up 300 and I said, mine just went up and I was like well, they well when I learned about it.
Speaker 2:But when you call the county the, county said well, we haven't even put the tax out for the year yet, because I called the county because they said that my taxes had gone up and I wanted to make sure I hadn't missed. Like, wait, now what's going on, did I?
Speaker 4:miss something.
Speaker 2:Did I pay my taxes Because?
Speaker 4:it's an escrow, but they took care of that right.
Speaker 1:So I called for that reason.
Speaker 2:And I said well, you know I was caught because you know when my taxes have gone up. She said, well, we haven't even put the taxes out for the year.
Speaker 1:She said a lot of times your anticipate what's coming through the analysis.
Speaker 2:Anticipate, because the taxes ain't even out yet.
Speaker 1:But then my homeowner's insurance doubled from last year.
Speaker 2:Oh God, it doubled.
Speaker 3:Because of the housing market, the houses being so high, everybody's price went up, so the gas going to cost more to cut.
Speaker 1:It's getting ridiculous.
Speaker 3:So they're basing it on the value of your house. Everybody's value really has went up, so the price is going to cost more to cut. Probably it's getting ridiculous. So they're basing it on the value of your house. Everybody's value really has gone up, so they're basing your taxes and everything on the value of your home.
Speaker 1:That's why I say, oh, then I'll be able to sell this sucker for a pretty penny.
Speaker 4:then Then where do you go? Because if you, rent.
Speaker 1:it's going to cost more, I know.
Speaker 4:And if you buy something else it's going to cost even more.
Speaker 1:I've been talking to you about it and you're like, just sit still and be quiet.
Speaker 2:Just sit still for a minute. You'll know when it's time to move. I don't know what to do, but don't make a rash decision, because then that's how you get caught up in that predatory stuff.
Speaker 1:Yeah, I'm not even trying to pull nothing from the lighting anymore.
Speaker 3:I ain't worried about that. You know, there was a time when we thought, yeah, just ride it out, and it's going to go down and everything I don't know.
Speaker 4:It is cyclical, though. It goes up and down.
Speaker 2:Yeah, but it is cyclical, but at the same time it's taking longer for those cycles, right.
Speaker 2:At the same time. This is. This reminds me of when the stock market crashed and this was and I learned this from some rich folks. When I started looking into investing money, people were um, I learned this from an investor. He said I always know true investors and people that are not what they consider a real investor, he said, because a real investor could care less how the market is doing. You just ride it out. No, no, no, no. He said you don't ride it. You don't ride it out.
Speaker 2:A real investor makes money, no matter if the market goes up or down. Mm hmm, it don't matter. It don't matter what the market is doing. We were trained to be poor. That's the difference. We were trained to be poor when one thing, you don't and realize the market. Remember when everyone was losing their 401ks because people told them to ride it out? Why? Why, you should have cashed that money out the moment that thing started dropping because you were losing your money. But a real investor and this is what I learned with money, these are all my investing classes and all that kind of stuff a real investor makes money whether the market goes up or the market goes down. So are you familiar with you buy a stock right, so we're told to buy low, sell high right, because now that difference between what you bought it for and what you sold it for makes money right Now. Listen to this Did you know you can sell first before you buy it? What?
Speaker 1:No.
Speaker 2:Everything is digital. Do you ever actually take possession of a stock in your hand? So who said you had to buy it first?
Speaker 4:How can I sell?
Speaker 1:something I don't have. Wait a minute that you don't have, it's nothing but digital.
Speaker 2:It's just digital.
Speaker 1:So you finagling something.
Speaker 2:You can sell a stock, watch it drop and then buy it. Do you get the same? Spring it? I don't know nothing about this.
Speaker 4:I'm getting confused.
Speaker 1:Which is why we have been trained to be broke. I don't think you have to own it.
Speaker 2:You don't have to own it first, because you never take possession of it. You never take possession of it. Let's sell your car that never, took position.
Speaker 1:No, no, that's a that's a physical product but digitally you. That's a physical product okay okay, okay, okay, okay because I'm so confused.
Speaker 3:We need okay, okay, yeah, because I'm thinking you can sell like over the years and buy later you can buy first and sell later.
Speaker 2:You never take possession. It's just a it, just it's just a. It's digital, if that makes sense.
Speaker 1:It don't. Are you putting a damn payment on it? No, I'm not talking about a house.
Speaker 2:No, I'm talking about I'm still a layer I'm a layer I'm a layer, I'm a bias and I'm telling you this because I've done it personally I know that you can do this.
Speaker 2:I've learned this and you say you're gonna buy it. I want to buy. This stock right now is super high and this is why I say a real investor could care less how the market is doing, because a real investor is going to make money, whether the market goes up, it goes down or whether it stays the same. There's calls, there's puts, there's the bull market, there's the bear market. That's learning the market when there's parameters that you can set. Let's say the market never moves. You can set a parameter that says here and here, while the market is here in the middle and as long as it stays here in the middle between these two parameters, I make money.
Speaker 2:That's the stock market you can set a parameter that says oh my god, this stock is so high, it's anticipated to drop. So guess what? I'm gonna sell it up here high, because, remember, I don't take possession of it and then it drops and I'm gonna buy it. Do I still get?
Speaker 4:the spread. I understand. So you're saying it's digitized, so whenever these things happen, it's already set up to do that. I'm not physically going in, I don't buy it. I don't buy it, I don't own it yet I don't.
Speaker 2:You don't have to, because you're never. It's not like this fan that you have to actually give me the fan Automated is a better word, I'm a silk, I even buy it, but that's what you're doing.
Speaker 4:No, no.
Speaker 2:But I can. You have to read the candlesticks and all that kind of thing. This is where you're anticipating where the market goes. So if the market as you're anticipating that the market is going to drop, you will sell it first, because you're going to sell it at a high price and you set that price, but no, the price is already there in between.
Speaker 4:This is where you bought it.
Speaker 2:This is the current price where you bought it. I'm anticipating that the market is going to drop when it hits this point.
Speaker 2:Right here, buy it you still can't, they're still okay, yeah, okay, okay, you just sold it first, yeah now the set, but we've been trained, which is why a lot of people lost their 401ks when they they already owned it here. They should have cashed out and held it right while it crashed right, or now that you own, you own it here. You can sit on it. You can wait for the market to go back up. Because did the market come back up?
Speaker 4:you just said it's cyclical right?
Speaker 2:yeah, yeah it's a cycle, it's gonna come back up. Why would you let your money crash? Because they told you hold it, hold it, hold it. Who told you that? Because they didn't hold theirs, they cashed that money out, held that until that market started to turn back up and then they bought it low and they sold it high. But when the market started to go down, they sold it and then bought it when it hit low. Is it the same spread? Yeah, same spread, don't matter which way the market goes.
Speaker 4:I sound like another class of conference.
Speaker 2:Should we just shut?
Speaker 4:up.
Speaker 3:I'm telling you, it doesn't matter and you know how long I've done it and I I didn't lose because, but I had people who yeah, right, right, you have someone that does so they was like no, because I wanted to pull out.
Speaker 3:But they was like, no, hold it. So that's what I was talking about, not that whole thing. You would. You know you were saying, but they was like, no, don't touch your stock, leave it. But they invested it and did all the numbers and stuff. I don't know what they do, but I know I never lost over the years.
Speaker 2:And so that's why I said my view of how do you survive in this market. I'm going to tell you right now it's going to be the most millionaires ever made. While Donald Trump is in office, this is going to be the time of this is the boom of millionaires. First of time of this is the boom of millionaires. First of all, let's just keep it 100, and this is this is going to be controversial.
Speaker 1:It's going to be controversial, in my opinion.
Speaker 2:I'm not saying donald trump is racist or not racist, because you know, you got that over the place, but what I can tell you is he's elitist, he's for the rich, so the things that he is setting in place are to protect people with money, to help you get more money. What you got to do is figure out how you get in that line, and the one thing I can say, even though it's tough for young people nowadays, it's easier for young people. Nowadays. You have more young millionaires. You have young, young millionaires under 30, because they have options that we did not have then, and you have even people our age. How many digital content creators are our age now? She's just showing her fashion. She's 75 and she got a million followers. We have options. One thing I think about us we get set in our ways because we don't know and a lot of us are not willing to learn other ways, or we are used to doing things out of habit, because this is the way we've always done it. We don't change and evolve with the times.
Speaker 4:You talk about that a lot pivoting.
Speaker 2:Yes.
Speaker 4:You've got to be. There's a lot of people who don't.
Speaker 3:You've got to pivot. They're stuck in their ways.
Speaker 2:This is the age of millionaires right now, which is why, you see, which is yeah they got an $800,000 house.
Speaker 3:I would really like to know the numbers because they well, you're saying that, but we say a lot Like people say a lot, yeah, and they're on social media saying what they have and they in debt, sleeping in cars.
Speaker 3:Not everybody, Lord, oh no it's a lot of fake folks, so like while we say that I, I would like to see, I would just like to really understand that and know it and say it, you know? I mean like how we were saying that the age group from which you could tell of the people that watch our show is not the 40 plus, it's really.
Speaker 2:But that's the, that's the analytics. There you go the analytics, so like, while you say that and I hear plus, it's right. But that's the, that's the the analytics.
Speaker 3:There you go, the analytics. So like, while you say that and I hear you, it's like how true is that really? Like I want to know that. Yeah, because I kind of want to know that.
Speaker 4:Yeah, I've looked at it but think about you, do you go on youtube and watch videos all day? Younger kids they go and they watch videos all day.
Speaker 3:No, I get it. I get it and I understand the numbers and the analytics.
Speaker 2:It is it's the numbers and I'm gonna bring. I hate that I didn't think yeah because I didn't know we were going down this path we love y'all for watching right thank you that I would have had.
Speaker 2:I would have had the numbers, but I just think that they have there's so many more options for them to do. They ain't gotta leave home. Yeah, I ain't trying to find out, I don't have. Even now, I don't have to leave my house. When I leave my house, I lose money. When I leave home, my money is sitting right around the corner.
Speaker 4:In the computer.
Speaker 2:yeah, you know what I'm saying On that desk, on that computer. That's where my money's at, and so a lot of young people. I just think there are a lot of options. So the economy is hard, but they're learning how to make money.
Speaker 4:You.
Speaker 2:The economy is hard, but they they're learning how to make money you know how many young people are in real estate right now. We were so happy to own our one little house that we live in, which is a liability and not an asset. You know, I'm saying like they're learning how to airbnbs do these things right it's a lot of young people, but all of that is starting to crash too
Speaker 2:well, that's because the the market is crashing but I'm gonna tell you one thing is never gonna crash people always gotta have somewhere to live. People always gonna have to eat. You know I'm saying, whether you're in now, you may not that maybe the luxury market is gonna get hit worse or whatever. But guess what? It's gonna end.
Speaker 4:So much of a need for low-income housing now, whether or not we're gonna have a, a government organization anymore about low income housing, I don't know, but that ain't gonna take the fact away that there's gonna be a lot of people in a place to live, so you have a lot of people in real estate.
Speaker 2:But I just think we just get so set as being older. We were taught the nine to five. We were taught to go get a job. We were taught to stay there for forever and we don't have not diversified. Yeah, because we we relied on our 401ks, we relied on our pensions, we relied on all those things and then the government came in and started wiping that out. For a lot of people and a lot of people, especially our age, there's not a such thing as a new job. You know what I'm saying.
Speaker 2:But in this day and time you've got to pivot and you have to learn to diversify. I have my hands in so many hats right now. I'm all over the place. I ain't going to lie to you, I ain't got a handle on none of them. I was like you've got to get me out of this, I've got to do this, I got to do that, I got to do this. I got to do that why? Because I've been an entrepreneur for 20-something years. There is no 401k Right.
Speaker 4:I can't say I'm retired today and there's a 401k sitting right here If you are an entrepreneur you need to start getting your Roths, especially at a young age.
Speaker 2:Start putting that money away for a while you got to start creating your own 401ks.
Speaker 3:They do now have 401ks for your insurance your health insurance.
Speaker 2:You got to learn how to pivot, and if you don't do nothing else, you got to learn how to diversify. Look how people lost their freaking mind. What was that that went down for one day? Tiktok, was it TikTok?
Speaker 3:or Instagram. It was TikTok, it went down for one freaking day. You see those people was losing their money. Because a lot of people get paid off of TikTok too, but guess what?
Speaker 2:TikTok wasn't here 10 years ago. Tiktok might not be here 10 years from now.
Speaker 4:So you need to make your money from TikTok now.
Speaker 2:You need to be making your money from TikTok now, but what you doing with that money? Right, that's what counts money from TikTok now, but what you're doing with that money, because when that's not here anymore, whatever the next best thing is, you need to be trying to figure out how to make that money. Make money.
Speaker 3:That's the thing, and not spend it as you get it. And that's the other thing that we're talking about, there's a lot of whatever. I guess they're millionaires because they bring the millions in, but they're not really millionaires because these folks don't know how to save their money.
Speaker 2:You get what I'm saying, like they don't invest, you might be a millionaire.
Speaker 3:On paper they're on paper, but they don't know how to invest their money, to the point that you was talking about. They can't even buy an insurance policy, they get sick, they land up somewhere, but I'm a millionaire, you know. Know, like all of these things, this happened and it just doesn't make sense. So, like, just, I'm not caught up in the hype. I'm not caught up in a hype, so I would like to see that, just because I'm like, uh, that sound good and it may be true, I'm not like negating the young people out there and saying that that's not happening but we have to be very careful, like we.
Speaker 3:We have to learn and understand, especially for the younger generation. Now that you're bringing it in, what do you get in? You know because I see your audi right you know what I mean. And I see your nice cars and I see you at the club throwing millions of dollars on, but like that's why you do something else.
Speaker 2:Athletes are broke they got all those millions of dollars because it's a it's it's a millionaire mindset. You can give a broke man all the money in the world if he don't know what to do with it, he still.
Speaker 3:The lotto is a good example and I ain't trying to be funny.
Speaker 2:Look, I've had money in my life. I've been broke right behind it. I had a little money before I've been broke right behind it. Hello money before I've been broke right behind it again and I just brought up Jesus. I'm learning lessons you know I'm learning when you decide to bless me with that real big one the next time but I'm ready for you this time, because you didn't know.
Speaker 3:The financial literacy Right.
Speaker 2:That financial literacy you didn't know, so that's why I say, in this economy this economy is tough and it's hard, but one you have got to learn how to pivot, yeah and you have to learn how to diversify, because guess what?
Speaker 3:people gonna stop traveling y'all. Oh yeah, they are. I'm gonna be good but they are right.
Speaker 2:Right, but my travel business is my life yeah, yeah, yeah so why, why, why do you think I'm doing all these different?
Speaker 4:things yeah, yeah I ain't doing it because I like running around, I'm doing it so when this goes down, you're another bag.
Speaker 3:Yeah, because when you can't afford to live. You ain't trying to travel hello, that's true.
Speaker 2:So what happens when my travel business goes down? You?
Speaker 2:better have something else you better have something else. You can't wait till it crash and then try to figure out what to do, because now I'm in, I'm in turmoil. So, yeah, I'm, I'm buying some properties. Yeah, let me build some houses and put some people in it. You know what I'm saying. Yeah, let me look at the stock market. Whether it goes up or it goes down, I need to know how to make money, no matter which direction that stock market goes. That's why I study, that's why I read, that's why I don't took so many people.
Speaker 2:Classes is absolutely absurd, and one of the best things that ever happened was years ago. I took um rich dad, poor dad, robert kiyosaki. He has people all over the country that teaches different things about investing. This frail looking older white man walked in. He looked all scruffy and everything. The class was full and it looked like a people. A lot of people that look like us were in the class and the the gentleman walked in and we was like, oh, is that the instructor? Because we judged him by how he looked.
Speaker 2:Yeah, that man had way more if you added all our stuff together we didn't have half if you added all of us together, we didn't have a third. And he said I make a couple hundred thousand dollars a month. Because he looked scruffy, everything and what he did was and this was at the time when they he projected it up on the thing, he typed in whatever on the computer and it showed up on the screen. And he opened one of his checking accounts and he said he. All he said was I make a couple hundred thousand a month. See, now we're looking at numbers on the screen and we're like, um, okay, I guess he's for real. Yeah, I guess he's for real. So he said you know, when I started investing in real estate, he said he, he made two hundred and something thousand dollars a year. He said, and I was in debt, I still lived paycheck to paycheck. Because you think, we think, oh, you make six figures six figures ain't the same, no more, he said why he said because my house got bigger.
Speaker 2:Yep, my car has got more expensive. My wife needed an expensive car, the kids are now in private school, you know.
Speaker 2:So I didn't make 200 000 and maintain that same level that I had when I was broke. My expenses went up, so I'm still living paycheck to paycheck. But he said what I had was good credit, so we gonna talk about your credit. What I had was good credit, so we don't talk about your credit. What I had was good credit. So I was able to get a line of credit. So he took the line of credit $100,000, and he learned how to invest his $100,000. He said and at the time my monthly payment was like $400, $500, let's say $500 a month. He said now I make a couple hundred thousand dollars a month. He said now I make a couple hundred thousand dollars a month. He said now, what do you think I did with that $100,000 loan? He put it in the stock market, didn't he? No, he got a bill. He got to pay that $100,000 back.
Speaker 4:He made a couple hundred thousand a month and most people were like, oh shoot, he was able to pay that off real quick.
Speaker 2:He said I will never pay them back what I will every month pay $500 a month until it's paid off.
Speaker 2:I will never give you that lump sum, but it helps keep your credit going too Well, one of the reasons why he did it. He said, and I promise you this scruffy man, he said and that's why y'all broke he was like I know you, Okay, yeah, he right. Let. He was like I know you, okay, yeah, he right. Let me hear what he got to say. He said because if I took a hundred thousand dollars, because I could pay them a hundred thousand dollars right now to pay that loan off but that hundred thousand dollars.
Speaker 2:He could stick that hundred thousand dollars and go make another three hundred and four hundred thousand over here with that same hundred thousand dollars he was gonna pay back. He said I will forever pay them five hundred dollars a month. I will never give you a hundred thousand dollars in a lump. I don't care if I make a million dollars a month, that hundred thousand dollars is gonna best roll over 10 times by the time.
Speaker 2:I give you all that money, that that lump sum of money back. He said. It's a mindset. We are taught to be broke. We're taught to hold it forever while you watch it crash Because somebody told you to hold it, he said. But the rich people didn't hold theirs, they didn't lose a lot. They cashed it out, froze for a minute when it moved again. Then they put it back in. But we were taught to hold it. You've got to learn financial literacy.
Speaker 2:And you've got to learn how to pivot and you have to learn how to diversify.
Speaker 4:Where do you get that information from?
Speaker 2:We're going to get us some workshops.
Speaker 4:We're going to set up some workshops. That's a whole class we have insurance one-on-one, we've got to do financial literacy. Yes, like y'all say, if you you have it, you need to enjoy it with everybody. You want to bring everybody else with you.
Speaker 2:so that's you know. And then that's another thing you got to learn that you can't bring everybody. Everybody can't come on the ride. I'm always looking to better myself and to learn. I would love to do things as a group and do things as a whole Like we always say it ain't no fun, you don't want to be the only one. You want to bring your friends with you, your circle with you. But you have to also realize you can't bring it.
Speaker 2:But anyway we can sit here and talk about this forever y'all. I'm glad y'all. Good for now, yeah.
Speaker 4:But we about to sign up for this class, though we about to be rich, we about to diversify and pivot as well, but anyway, this is Laverly. This is Stephanie. This is you.
Speaker 2:This is.
Speaker 4:Stephanie, this is you. This is Evania and we gonna keep on spilling the tea on your money, honey. One laugh at a time.
