Angela Duncan - Money Matters: Unlock Financial Freedom in Midlife

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to mature allure where we highlight the experiences and perspectives of women in midlife as

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well as talk about all of the things we can relate to as to not you know so we can look forward to aging not so much fear it today's guest is angela duncan of you

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empower her money,

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which I love that because

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I don't have a lot of money,

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but I want to be able to power it.

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But anyway,

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Angela,

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hi,

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welcome to Mature Allure.

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Thank you so much for having me today.

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Yeah.

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Thank you for joining us.

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Let's start by you telling us a little bit about yourself.

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Certainly.

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So I am a survivor of childhood abuse and poverty.

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And so what that means is I didn't know anything about money as a kid.

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I wasn't taught the great things about money as a kid.

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And so when I was 18 and moved out of that situation,

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I started a very long journey to learn more about money.

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And

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I've learned a lot,

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but it hasn't all been roses.

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So we can talk more about the ups and downs and kind of where I'm at today.

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I actually,

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it's good to talk to someone like you who,

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like you said,

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you haven't come from money because a lot of times,

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especially in midlife,

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the money that we may have saved,

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we've been using it for whatever reason,

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maybe things have happened that have,

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you know,

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kind of kept our money from growing.

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How would you,

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how do you go about looking at what you have currently?

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finance.

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And how do you build upon that?

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If you're in midlife and you're really kind of living paycheck to paycheck,

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what's your first advice?

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Yeah.

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So first advice is to figure out what your financial foundation looks like.

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And what that means when I teach people is how much money are you making?

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What are your real expenses and what can we cut out?

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And then how much do you have leftover to figure out what are your financial goals and how do we use that leftover money to help you accomplish those goals?

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So it's so important.

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and I've heard this analogy quite often,

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is if you open your GPS and you know what your goals are,

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where you want to be,

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your destination,

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but you can't figure out where you're at today,

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then there's no plan in place,

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right?

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So it's so important for you to figure out what does your financial house look like today before we start planning for your future.

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Well,

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let's talk first a little bit about Empower Her Money.

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Tell us about your services.

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I know you have a podcast and you're a speaker.

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So just give us kind of an overview about your business.

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Yeah,

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I would love to.

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So early on,

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I thought I wanted to be a stockbroker on Wall Street.

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That didn't work out.

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So then I switched to real estate right before that bubble burst.

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And so I was in real estate for a long time and I've learned a lot about real estate investing.

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And about a year ago,

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I launched a podcast,

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which we talk about money on my podcast.

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And so I really wanted to have an avenue for people to be able to invest what they're learning about.

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And so that's what I do today is I do help people with their passive investment opportunities.

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But I still talk a lot about money because I think it's so important,

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especially for us women,

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to understand what money is,

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how we use it as a tool and kind of take away that emotional piece of it so that we can create wealth and income for our families.

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Well,

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a lot of us are at a point where either we have some investments or maybe we have,

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we don't have any,

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but we all think about,

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you mentioned real estate.

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Everybody talks about real estate,

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real estate,

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and real estate is an investment.

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I mean,

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even you purchasing your home is an investment.

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What are your suggestions for people,

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for women who might be thinking about real estate from an income standpoint?

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Like,

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cause that can be really tricky.

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It can be.

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And there's so many different ways that you can invest in real estate,

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right?

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So most people know like you can buy a house,

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you can rent it out,

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and it's providing some type of income.

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But the biggest struggle with that is if your tenant moves out,

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you're 100% vacant,

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which means you're 100% responsible for bills without income.

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So I like to look at other avenues,

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you know,

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so whether that is,

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you know,

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going in and buying a bill,

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like a bigger building is potentially possible.

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Where I focus and kind of where I teach is tax liens.

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And that has been a great avenue for a lot of people who are just too busy to do research or figure things out on their own.

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You know,

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you really want to get with a professional,

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a mentor or a coach and learn about the different opportunities.

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Learn about what kind of investor are you?

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Are you more of a conservative investor?

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You don't want to take risk or maybe you want to be riskier.

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As we age,

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we tend not to be as risky with our money because who knows how long we've got.

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Right.

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So I like giving conservative options to people so that they can hopefully continue their work or their business,

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set some money aside for the future and know that it might be a little bit safer than the riskier investments,

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such as like a single family house.

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Yeah.

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Yeah.

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Well,

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I brought that up because I'm actually thinking about it.

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So that's why I brought it up.

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But let's get back to what you do as far as like on your podcast and speaking and.

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you know,

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on your website,

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you really talk.

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about changing your financial future.

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and how do we do that?

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Like,

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where do you begin?

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How do you do it?

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I mean,

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we're all beginning at different stages in life,

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but just kind of give us an overview for a couple of different stages,

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like how you change your financial future.

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Yeah.

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So two things,

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there's the inventory of what is,

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you know,

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tangible.

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Like we talked about what's your income,

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what your expenses,

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what are you currently invest in?

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Those are all tangible items.

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And when you have a very clear picture of what that looks like.

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your brain is aware now,

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right?

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Because so many times,

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like people don't check their bank statements or their credit card statements.

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Well,

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how do you know what your real expenses are if you're not looking at what you're spending,

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right?

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So have a very clear picture of the tangible part of where you're currently at today.

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Then I also talk about mindset because even as we age,

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we're still dragging things from our childhood that we were taught that are not our truth today.

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but they're still there subconsciously.

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Like I don't need more money or I'm not going to make more money.

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Well,

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none of that gets true.

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You can obviously change that about your life,

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but until you become aware of what you're thinking about,

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we can't break through that and figure out real tangible ways for you to create that income.

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Right.

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And so that could be whether or not if you're working in a job,

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maybe you need to invest in some education to get a raise in order to move to a different position.

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Or if you're a business owner thinking about

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your client base.

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How else can you serve them?

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Or maybe you need to charge more.

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I know that's very difficult for us women.

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We don't like to charge more,

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but if you really truly want to create and achieve your financial goals,

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we've got to figure out a way to bring some more money in.

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I'm more of the abundance mindset,

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meaning let's create more income versus let's cut out your expenses.

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I do.

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you've got to control your expenses.

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But if we focus on making more money,

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then that's just so much easier for us.

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And it sits with us so much better than depriving ourselves or cutting out expenses.

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It's such a negative thought.

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So creating income is more of a positive thought.

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And I like to live in the positive.

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You know,

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it's interesting.

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You said something that really was interesting.

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You said invest in education so that you can get a raise.

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I think

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I guess I really hadn't thought about that.

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And a lot of people don't think about that.

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You get to a certain point in your life where you are in midlife.

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You maybe are kind of very professional in what you do,

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but there's always ways to increase that knowledge so that,

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like you said,

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you can make money from it or make more money from it.

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or even a hobby.

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Because I know I've talked to a few people who,

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you know,

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they're photographers,

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but these are side gigs that they're moving into a more professional space,

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but they invested the money into themselves so they can bring in some more income.

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So that's really,

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really interesting.

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Tell us a little bit more about your services overall.

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And if you have any speaking engagements coming up,

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just tell us a little bit more about you.

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Yeah,

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absolutely.

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So I'm in Miami.

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I do travel to speak,

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but I have an event coming up in July that we're just putting all of the details on.

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So I'm excited about that because really where my focus is,

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is on women.

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So I'm going to events that primarily,

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you know,

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the attendees are women or women business owners,

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because you guys get so busy in like the weeds of your business that you just pile money and you don't take the time to really make that money work super hard for you.

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which is so important because you're working hard for that money.

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We want the money to work for you too.

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So you asked about the speaking engagement is coming up in July.

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I've got a couple more things later on this year.

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I have an article coming out in success magazine later this year,

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which I'm really excited about.

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I've been a fan of that company forever,

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but I'm just looking for different ways to reach women.

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And that's why podcasting is so amazing because someone can watch this for free.

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So when I say.

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best in yourself.

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It doesn't have to cost money.

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You can go on YouTube and you know,

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if you have,

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like you were talking about,

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um,

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a side job,

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right?

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If you have an interest that you want to take your hobby and make some money of it and have some fun,

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well,

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take the time to educate a little bit more so that you can add value to your clients,

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right?

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So YouTube podcasting,

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great opportunities there.

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And yes,

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empower her money podcast,

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just like you.

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I'm sure Sherry.

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I love interviewing people.

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sharing their stories and having them teach you something different from their experience.

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That way we can just,

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you know,

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help more people learn more and figure out what is it that you need at this moment.

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And,

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you know,

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people come to me on Instagram and they ask me money questions.

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I love doing videos for them.

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So it's just,

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this is my passion.

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I want to teach more people about money because there really is no reason for us to live in poverty because we can and should.

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change that for just us,

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for our family,

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and for the generations in front of you?

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00:10:08.047 --> 00:10:08.228
Well,

263
00:10:08.348 --> 00:10:09.051
like you brought up,

264
00:10:09.151 --> 00:10:13.646
just changing it sometimes can be the hard part.

265
00:10:14.121 --> 00:10:14.482
you know,

266
00:10:15.003 --> 00:10:25.317
especially when you're stuck in something where you might have kids in college or kids going to college or even small kids and your paycheck isn't really stretching that far.

267
00:10:25.618 --> 00:10:26.961
It covers the basics.

268
00:10:27.764 --> 00:10:34.984
What are your suggestions for women who are in those situations who want to increase their wealth or grow their money,

269
00:10:36.989 --> 00:10:39.456
but really just don't know what to do?

270
00:10:39.677 --> 00:10:39.837
Like,

271
00:10:39.979 --> 00:10:41.196
how do they do that?

272
00:10:42.205 --> 00:10:43.268
Yeah.

273
00:10:43.309 --> 00:10:45.837
So once you're aware of your income and your expenses,

274
00:10:45.958 --> 00:10:46.901
let's think about this.

275
00:10:47.121 --> 00:10:47.322
You know,

276
00:10:47.422 --> 00:10:48.024
I'm in Miami.

277
00:10:48.465 --> 00:10:50.432
Miami is super expensive to live.

278
00:10:50.933 --> 00:10:54.044
So if your job allows you to move somewhere else,

279
00:10:54.084 --> 00:10:57.421
maybe it's a national company or your profession is in need somewhere else,

280
00:10:57.782 --> 00:10:59.248
then look at perhaps moving.

281
00:10:59.388 --> 00:11:06.415
That way you can cut back your monthly expenses a little bit to help you get out of debt or save for a house or plan for the future.

282
00:11:06.756 --> 00:11:08.541
And you just mentioned kids in college.

283
00:11:09.086 --> 00:11:12.236
I know it's very hard for us moms to understand this,

284
00:11:12.396 --> 00:11:15.185
but your kid can get a loan for college.

285
00:11:15.505 --> 00:11:17.725
You cannot get a loan for retirement.

286
00:11:17.965 --> 00:11:20.677
So if you haven't fully funded your retirement account,

287
00:11:21.058 --> 00:11:22.585
do not save for your kid's college.

288
00:11:22.685 --> 00:11:26.421
And I know I get backlash a lot for that because we just want to help our kids,

289
00:11:26.903 --> 00:11:33.264
but I would prefer them to get a loan and understand what the value of a dollar is and how hard it is for them to pay that back.

290
00:11:33.697 --> 00:11:40.100
then for them to have to support me someday and for me to live in their house and be a burden on them because I did not plan properly.

291
00:11:40.562 --> 00:11:41.787
So really thinking about,

292
00:11:41.807 --> 00:11:42.048
you know,

293
00:11:42.208 --> 00:11:43.935
even as like an empty nester,

294
00:11:44.778 --> 00:11:46.102
I find ways to help my daughter,

295
00:11:46.122 --> 00:11:48.430
but I also find ways to teach her about money.

296
00:11:48.912 --> 00:11:49.273
That way,

297
00:11:49.534 --> 00:11:50.678
I don't want to be a burden on her.

298
00:11:50.939 --> 00:11:54.954
And it's not selfish of me to put money to my retirement at all.

299
00:11:54.954 --> 00:12:01.453
It's taking care of myself first is a very unselfish act so that she doesn't have to take care of me later.

300
00:12:02.369 --> 00:12:02.710
Wow.

301
00:12:02.870 --> 00:12:03.792
I love how you said that.

302
00:12:03.872 --> 00:12:04.152
Yes,

303
00:12:04.292 --> 00:12:05.014
it was shocking,

304
00:12:05.534 --> 00:12:06.957
but like you said,

305
00:12:06.977 --> 00:12:07.177
I mean,

306
00:12:07.217 --> 00:12:08.680
it makes perfect sense,

307
00:12:09.020 --> 00:12:09.641
especially,

308
00:12:09.661 --> 00:12:09.922
I mean,

309
00:12:10.122 --> 00:12:11.444
we remember when we were younger,

310
00:12:11.484 --> 00:12:14.469
we just kind of had to make it work and we got loans and we got credit cards.

311
00:12:14.509 --> 00:12:14.749
We got,

312
00:12:15.070 --> 00:12:15.390
you know,

313
00:12:16.051 --> 00:12:19.675
and all of the things that happen where you have these credit cards,

314
00:12:19.735 --> 00:12:21.537
everybody's throwing them at you when you were in college.

315
00:12:21.938 --> 00:12:26.483
And then all of a sudden you've got debt and you just don't really know what to do with it.

316
00:12:26.683 --> 00:12:31.889
Whereas this could be a way of training and teaching your child about.

317
00:12:32.916 --> 00:12:33.156
money.

318
00:12:33.397 --> 00:12:33.999
Like you said,

319
00:12:34.059 --> 00:12:34.640
I love that.

320
00:12:36.144 --> 00:12:36.866
Let's see.

321
00:12:37.247 --> 00:12:37.748
Ooh,

322
00:12:37.828 --> 00:12:41.760
I love when I have people on talking about money because that's always so scary.

323
00:12:42.382 --> 00:12:42.623
Now,

324
00:12:43.024 --> 00:12:43.907
what about,

325
00:12:44.770 --> 00:12:45.773
you mentioned retirement.

326
00:12:48.795 --> 00:12:53.551
I think we all dream about not necessarily retiring because a lot of people,

327
00:12:53.812 --> 00:12:54.053
you know,

328
00:12:54.233 --> 00:12:56.766
I feel like I'm going to just be working because I like to work.

329
00:12:56.947 --> 00:12:58.032
I like to do what I do,

330
00:12:58.797 --> 00:13:00.773
but how do you make

331
00:13:01.984 --> 00:13:03.808
now at this point in midlife,

332
00:13:04.049 --> 00:13:05.372
if you're not retired,

333
00:13:06.695 --> 00:13:09.001
how do you prepare for that retirement?

334
00:13:09.262 --> 00:13:14.701
What do you do other than you might have a 401k or you might have some money in savings?

335
00:13:15.241 --> 00:13:17.692
How do you think about that money?

336
00:13:17.732 --> 00:13:18.636
So it stretches,

337
00:13:18.696 --> 00:13:21.131
especially since a lot of us are living a lot longer too.

338
00:13:21.676 --> 00:13:22.321
That's a whole other.

339
00:13:23.177 --> 00:13:23.378
Right.

340
00:13:23.418 --> 00:13:24.603
So if you have investments,

341
00:13:24.683 --> 00:13:26.631
definitely speak with your financial advisor,

342
00:13:26.691 --> 00:13:31.829
making sure that the investments are properly diversified in your timeframe.

343
00:13:31.909 --> 00:13:32.170
Meaning,

344
00:13:32.190 --> 00:13:32.431
you know,

345
00:13:32.431 --> 00:13:33.114
the older we get,

346
00:13:33.536 --> 00:13:34.802
the more conservative we want.

347
00:13:34.842 --> 00:13:39.402
We don't necessarily want to be super risky because we don't have the time to ride the market up and down.

348
00:13:39.723 --> 00:13:39.904
Now,

349
00:13:40.084 --> 00:13:41.570
still be risky with part of it.

350
00:13:41.932 --> 00:13:42.755
That's important.

351
00:13:43.137 --> 00:13:43.257
But,

352
00:13:43.298 --> 00:13:43.599
you know,

353
00:13:43.800 --> 00:13:50.573
talking to the financial advisor and also you want to talk to a financial advisor who's super savvy on social security.

354
00:13:51.105 --> 00:13:54.196
because then they can help you understand if you take it at this age,

355
00:13:54.356 --> 00:13:55.741
expect this amount per month.

356
00:13:56.021 --> 00:13:57.167
If you take it at this age,

357
00:13:57.167 --> 00:13:57.429
you know,

358
00:13:57.429 --> 00:13:58.233
the longer we wait,

359
00:13:58.254 --> 00:13:59.521
the higher that amount goes up.

360
00:13:59.923 --> 00:14:02.261
But that only makes sense if you have another source of income.

361
00:14:02.402 --> 00:14:07.601
So really getting that clear picture and asking those difficult questions to your financial advisor is key.

362
00:14:08.161 --> 00:14:09.205
And then thinking about,

363
00:14:09.547 --> 00:14:09.787
you know,

364
00:14:09.848 --> 00:14:11.113
if you do retire someday,

365
00:14:11.133 --> 00:14:13.141
are you going to work part time or you're not going to work at all?

366
00:14:13.601 --> 00:14:15.501
What are your expenses going to look like?

367
00:14:15.962 --> 00:14:19.257
Most likely they're going to be at the same or above what you are now,

368
00:14:19.458 --> 00:14:21.164
because when you have more free time,

369
00:14:21.646 --> 00:14:22.509
we spend more money,

370
00:14:22.730 --> 00:14:22.971
right?

371
00:14:23.252 --> 00:14:24.877
Maybe we want to travel a little bit.

372
00:14:25.199 --> 00:14:29.172
So really thinking about what does retirement look for you and budget accordingly.

373
00:14:29.594 --> 00:14:32.042
And then you back into where am I at today?

374
00:14:32.283 --> 00:14:33.306
How much do I have?

375
00:14:33.728 --> 00:14:34.931
Where's that shortfall?

376
00:14:35.393 --> 00:14:37.700
And am I going to decrease my expenses later?

377
00:14:37.820 --> 00:14:38.526
Or am I going to,

378
00:14:38.728 --> 00:14:38.950
you know,

379
00:14:39.011 --> 00:14:40.021
find that side hustle?

380
00:14:40.565 --> 00:14:42.191
or ask for that raise or,

381
00:14:42.271 --> 00:14:42.532
you know,

382
00:14:42.612 --> 00:14:43.656
charge more of my business.

383
00:14:43.656 --> 00:14:49.621
So I'm creating more income now so that I'm okay when I retire at that time in my life that I think I'm going to retire.

384
00:14:50.924 --> 00:14:53.001
You brought up financial advisor.

385
00:14:54.961 --> 00:14:55.342
That,

386
00:14:57.647 --> 00:14:58.369
let me just say,

387
00:14:59.030 --> 00:15:01.155
I don't know a lot of people who have them.

388
00:15:01.336 --> 00:15:02.077
I mean,

389
00:15:02.458 --> 00:15:03.621
you just kind of guess.

390
00:15:05.724 --> 00:15:09.337
What are the advantages to having a financial advisor?

391
00:15:12.426 --> 00:15:14.759
some of them won't even take you on unless you have a certain amount of money.

392
00:15:15.380 --> 00:15:17.599
But what are the advantages of having a financial advisor?

393
00:15:17.759 --> 00:15:20.199
And what if you can't afford a financial advisor?

394
00:15:20.320 --> 00:15:20.957
Is that a thing?

395
00:15:21.459 --> 00:15:24.779
Are there people out there that will help you for minimal amount?

396
00:15:25.548 --> 00:15:26.091
I was going to say,

397
00:15:26.171 --> 00:15:29.464
I think you can not afford to have a financial advisor,

398
00:15:29.504 --> 00:15:31.047
but I understand there's minimum amounts.

399
00:15:31.147 --> 00:15:33.217
And if there are minimum amounts and you're not there,

400
00:15:33.700 --> 00:15:35.824
then you really have some serious planning to do.

401
00:15:36.508 --> 00:15:39.367
A financial advisor is just like a coach.

402
00:15:39.528 --> 00:15:41.107
I've had coaches my entire life.

403
00:15:41.167 --> 00:15:42.759
If anyone played sports as a kid,

404
00:15:43.101 --> 00:15:43.847
you had a coach.

405
00:15:44.027 --> 00:15:49.743
That coach is there to study that craft and teach you so that you have a shorter learning curve.

406
00:15:50.146 --> 00:15:52.043
You don't have to learn everything about stock market.

407
00:15:52.163 --> 00:15:53.863
You don't have to learn everything about social security.

408
00:15:53.983 --> 00:15:56.083
You don't have to learn everything about the different investments.

409
00:15:56.444 --> 00:16:00.243
But when you have a coach or a mentor on your side that's studying that all the time,

410
00:16:00.885 --> 00:16:08.683
that you need to be able to make room for in your life because if you don't have someone advising you and you're trying to just steer this by yourself,

411
00:16:09.145 --> 00:16:10.783
you might run out of money someday.

412
00:16:11.003 --> 00:16:12.223
And that's a very scary thought.

413
00:16:12.363 --> 00:16:14.683
So I would much rather have someone on my side.

414
00:16:15.224 --> 00:16:17.103
And if you can't necessarily afford

415
00:16:17.909 --> 00:16:20.015
someone or you don't have enough to invest with them,

416
00:16:20.617 --> 00:16:22.322
look at financial clubs,

417
00:16:22.502 --> 00:16:24.127
go to free webinars.

418
00:16:24.547 --> 00:16:25.853
Most of my financial advisors,

419
00:16:25.933 --> 00:16:27.781
I know they put them on all the time.

420
00:16:28.122 --> 00:16:31.074
And while it doesn't go in depth to your own situation,

421
00:16:31.195 --> 00:16:37.061
it's at least giving you some overview of what you need to be thinking about when you're looking forward towards retirement.

422
00:16:37.442 --> 00:16:39.170
And then they start speaking language,

423
00:16:39.231 --> 00:16:40.658
which you become familiar with.

424
00:16:40.678 --> 00:16:41.582
You learn about it.

425
00:16:41.582 --> 00:16:44.536
Maybe you go home and listen to a podcast on a certain subject.

426
00:16:44.878 --> 00:16:46.667
So it helps you become more educated.

427
00:16:47.211 --> 00:16:47.894
and hopefully,

428
00:16:48.034 --> 00:16:48.275
you know,

429
00:16:48.275 --> 00:16:49.439
you can take that education,

430
00:16:49.720 --> 00:16:54.480
implement it into your current life and plan out ahead for that retirement.

431
00:16:54.560 --> 00:16:59.107
And then maybe you get to a level where you can hire that person because they've given you so much free information.

432
00:17:00.448 --> 00:17:04.761
So how do you go about finding a financial planner?

433
00:17:04.801 --> 00:17:08.778
Like what are some of the key questions you should keep in mind when speaking to,

434
00:17:08.1000 --> 00:17:09.241
you know,

435
00:17:09.522 --> 00:17:13.567
looking for one and what are the things that they should offer?

436
00:17:14.674 --> 00:17:14.835
Yeah.

437
00:17:15.096 --> 00:17:15.637
So first,

438
00:17:15.657 --> 00:17:16.640
how do I find one?

439
00:17:17.503 --> 00:17:18.987
I'm asking people in my world,

440
00:17:19.228 --> 00:17:20.231
and it could be a boss,

441
00:17:20.351 --> 00:17:21.255
it could be a mentor,

442
00:17:21.677 --> 00:17:27.967
could be someone within a networking group that looks like perhaps they're doing something successfully and you just start asking them questions.

443
00:17:28.349 --> 00:17:28.711
Ask people,

444
00:17:28.811 --> 00:17:30.419
who do you use for your financial advisor?

445
00:17:30.499 --> 00:17:32.951
Who do you ask for financial advice from?

446
00:17:33.471 --> 00:17:34.697
And when you meet with them,

447
00:17:34.878 --> 00:17:37.469
you want to know what kind of advisor they are.

448
00:17:37.529 --> 00:17:39.457
They're going to want to ask you most of the questions,

449
00:17:39.517 --> 00:17:43.071
but jump in and ask because if you're a conservative investor,

450
00:17:43.574 --> 00:17:46.564
you want someone who is a conservative advisor,

451
00:17:46.724 --> 00:17:50.638
meaning they're going to take less risk because that's the type of client that you are,

452
00:17:50.999 --> 00:17:52.825
but maybe that's their focus,

453
00:17:53.187 --> 00:17:53.448
right?

454
00:17:53.548 --> 00:17:54.371
And so like for me,

455
00:17:54.511 --> 00:17:55.595
I'm a real estate investor.

456
00:17:55.636 --> 00:18:01.017
So the mentors in my world all invest in real estate because that's where I want to invest.

457
00:18:01.599 --> 00:18:03.066
Another question you want to ask them,

458
00:18:03.086 --> 00:18:03.347
you know,

459
00:18:03.387 --> 00:18:04.733
how long have you been in the business?

460
00:18:04.813 --> 00:18:05.938
How do you get paid?

461
00:18:06.300 --> 00:18:07.826
Because they're either receiving,

462
00:18:08.047 --> 00:18:08.268
you know,

463
00:18:08.288 --> 00:18:09.105
a commission or they're

464
00:18:09.400 --> 00:18:12.472
or they're receiving a percentage of what you have invested in them.

465
00:18:12.512 --> 00:18:14.702
So it's important for you to understand the difference in that.

466
00:18:15.063 --> 00:18:19.121
The reason why one is better than the other is because the more money they make for you,

467
00:18:19.602 --> 00:18:20.947
the more money they get paid,

468
00:18:21.248 --> 00:18:22.654
which incentivizes them.

469
00:18:22.754 --> 00:18:24.601
So I think that that's key for you to look at.

470
00:18:25.022 --> 00:18:28.696
And also you want to ask for references and you can Google them.

471
00:18:28.816 --> 00:18:29.117
I mean,

472
00:18:29.519 --> 00:18:31.244
I know when I Google certain people,

473
00:18:31.605 --> 00:18:35.475
we are more likely to put a negative review online than a positive one.

474
00:18:35.861 --> 00:18:37.774
So if there's something negative about them,

475
00:18:37.955 --> 00:18:38.579
it's out there.

476
00:18:38.779 --> 00:18:40.310
And if you do a Google search by their name,

477
00:18:40.350 --> 00:18:41.619
most likely you're going to find it.

478
00:18:41.920 --> 00:18:43.748
So understanding where they're coming from,

479
00:18:43.768 --> 00:18:44.250
what kind of,

480
00:18:44.552 --> 00:18:44.853
you know,

481
00:18:45.074 --> 00:18:46.179
advice that they give,

482
00:18:46.539 --> 00:18:51.221
check the references and ask for other happy clients so that you can have conversations with them,

483
00:18:51.703 --> 00:18:55.479
do a background check via Google and see what information is out there.

484
00:18:55.579 --> 00:18:57.959
And obviously I want someone who's been in the business for a while.

485
00:18:58.406 --> 00:18:59.218
I also ask them.

486
00:18:59.822 --> 00:19:03.252
What kind of education do you do now and going forward?

487
00:19:03.393 --> 00:19:07.145
Because if they got their license and they're not doing education,

488
00:19:07.546 --> 00:19:17.039
then that's a red flag for me because I want someone who's continually working on themselves and being the best advisor they can be by absorbing new information,

489
00:19:18.141 --> 00:19:19.084
watching the markets,

490
00:19:19.205 --> 00:19:24.445
listening to whatever it is that they need to listen to in order for them to be a better advisor for you.

491
00:19:25.108 --> 00:19:25.932
That's important for me.

492
00:19:25.952 --> 00:19:27.579
They have to be continuing their education.

493
00:19:29.080 --> 00:19:31.828
So for you,

494
00:19:32.209 --> 00:19:32.750
how did you,

495
00:19:33.031 --> 00:19:33.372
I know,

496
00:19:33.592 --> 00:19:34.876
like we mentioned earlier,

497
00:19:35.156 --> 00:19:36.059
you didn't come from money.

498
00:19:36.483 --> 00:19:37.879
I know a little bit about your story.

499
00:19:38.099 --> 00:19:39.999
It's online on your website.

500
00:19:40.899 --> 00:19:46.699
What motivate you to choose money as your path?

501
00:19:47.199 --> 00:19:47.819
You know what I mean?

502
00:19:48.221 --> 00:19:50.419
Everybody chooses a path when they're very young.

503
00:19:51.099 --> 00:19:53.519
And what made it motivated you to choose money?

504
00:19:53.719 --> 00:19:56.431
And how did you go about just,

505
00:19:56.893 --> 00:19:58.279
I don't want to say making that happen.

506
00:19:59.099 --> 00:20:00.831
But what were some pitfalls?

507
00:20:01.882 --> 00:20:05.554
initially that kind of turned you around and got you back on path,

508
00:20:05.795 --> 00:20:07.320
if you know if that makes sense.

509
00:20:07.660 --> 00:20:07.801
Yeah,

510
00:20:07.841 --> 00:20:08.263
absolutely.

511
00:20:08.404 --> 00:20:10.312
So I think when you grow up without money,

512
00:20:10.734 --> 00:20:11.016
for me,

513
00:20:11.197 --> 00:20:13.063
I always thought money was the answer.

514
00:20:14.126 --> 00:20:14.788
As a kid,

515
00:20:15.009 --> 00:20:20.247
getting free lunch or going to a charity to get Christmas gifts or getting the kids to make,

516
00:20:20.428 --> 00:20:22.780
or they were making fun of me because I didn't have new clothes.

517
00:20:23.200 --> 00:20:25.149
Those were all pain points for me as a kid.

518
00:20:25.210 --> 00:20:26.717
So I remember what that feels like.

519
00:20:26.737 --> 00:20:27.943
It's an awful feeling,

520
00:20:28.024 --> 00:20:28.285
right?

521
00:20:28.768 --> 00:20:29.190
And so

522
00:20:29.713 --> 00:20:30.880
I thought if I had money...

523
00:20:31.547 --> 00:20:33.413
then all of those problems would go away,

524
00:20:33.593 --> 00:20:34.837
which we know is not true.

525
00:20:35.338 --> 00:20:37.204
But that started my journey.

526
00:20:37.445 --> 00:20:39.272
And I really wanted to learn more about money.

527
00:20:39.492 --> 00:20:40.155
And so for me,

528
00:20:40.677 --> 00:20:44.672
I always sought out other people and asked tons of questions.

529
00:20:44.692 --> 00:20:44.933
You know,

530
00:20:44.953 --> 00:20:45.776
my first career,

531
00:20:46.098 --> 00:20:49.389
I worked for a bank in the financial advisor industry.

532
00:20:49.650 --> 00:20:54.104
And I found women that were in the industry longer and ask them questions like,

533
00:20:54.544 --> 00:20:55.429
how do you do business?

534
00:20:55.469 --> 00:20:55.710
You know,

535
00:20:55.750 --> 00:20:56.695
what is it that you study?

536
00:20:56.816 --> 00:20:58.344
What's important for clients to know?

537
00:20:58.917 --> 00:20:59.163
And

538
00:20:59.540 --> 00:21:01.245
I come from contribution as well.

539
00:21:01.326 --> 00:21:03.653
So that if I'm asking someone questions,

540
00:21:03.653 --> 00:21:04.737
I'm asking for their time.

541
00:21:04.817 --> 00:21:07.487
I'm very cautious not to ask for too much time,

542
00:21:07.908 --> 00:21:12.545
but finding different mentors to ask those questions to just helps build my knowledge.

543
00:21:13.067 --> 00:21:13.288
And,

544
00:21:13.429 --> 00:21:13.670
you know,

545
00:21:13.710 --> 00:21:21.236
one of my first investing stories I'll tell you before I sought out real advice is I walked into a bank and I had like a hundred dollars,

546
00:21:21.316 --> 00:21:23.726
which was a lot of money to an 18 year old at the time.

547
00:21:24.208 --> 00:21:25.031
And I asked,

548
00:21:25.092 --> 00:21:26.096
how do I invest this?

549
00:21:26.297 --> 00:21:28.036
And the nice lady handed me a brochure.

550
00:21:28.271 --> 00:21:30.577
it was for a mutual fund and sent me on my way,

551
00:21:30.717 --> 00:21:30.938
right?

552
00:21:31.840 --> 00:21:34.788
I invested that $100 and I lost $20.

553
00:21:35.629 --> 00:21:37.959
And it wasn't the first time in my life I've lost money.

554
00:21:38.381 --> 00:21:47.011
But what I learned from that is that I needed to become a student and I needed to find someone else that could teach me about money and about investing.

555
00:21:47.232 --> 00:21:51.846
And so that was a very early lesson for me to lose 20% of my investment.

556
00:21:52.227 --> 00:21:52.368
But

557
00:21:52.735 --> 00:21:55.168
Now I understand that I'm going to seek out a professional.

558
00:21:55.208 --> 00:21:57.580
I'm going to find a better way to invest my money,

559
00:21:57.640 --> 00:22:00.067
but understanding what kind of investor I am as well.

560
00:22:01.512 --> 00:22:04.298
for those women out there who like yourself,

561
00:22:04.459 --> 00:22:06.162
they have investments,

562
00:22:06.323 --> 00:22:09.392
they kind of know how to make their money work.

563
00:22:09.452 --> 00:22:11.883
They've worked with financial planners and work,

564
00:22:11.924 --> 00:22:18.801
continue to work with them and are looking at maybe money being their side project.

565
00:22:19.122 --> 00:22:19.523
You know,

566
00:22:20.445 --> 00:22:24.981
what suggestions do you have for them to move into that industry?

567
00:22:25.101 --> 00:22:25.382
If they're,

568
00:22:25.402 --> 00:22:27.107
if that's something they're interested in moving into.

569
00:22:27.739 --> 00:22:27.899
Yeah.

570
00:22:28.039 --> 00:22:31.909
So specifically I help clients invest in tax liens.

571
00:22:32.370 --> 00:22:33.332
And so for me,

572
00:22:34.054 --> 00:22:35.338
I wanted to find an avenue,

573
00:22:35.378 --> 00:22:37.166
not only that it helps create income for me,

574
00:22:37.467 --> 00:22:39.296
but that I'm impacting other people.

575
00:22:39.537 --> 00:22:41.385
I want to change other people's lives.

576
00:22:41.465 --> 00:22:44.056
And I think when you get into the money field,

577
00:22:44.476 --> 00:22:49.716
it's very easy for some people to go down a bad path where we call just like product popping,

578
00:22:49.856 --> 00:22:49.997
right?

579
00:22:50.017 --> 00:22:52.329
You're just selling stuff to sell stuff because you want an income.

580
00:22:52.792 --> 00:22:53.516
That's not my goal.

581
00:22:53.717 --> 00:22:55.645
and I definitely don't encourage that at all.

582
00:22:55.966 --> 00:22:57.252
If you're going to get into this field,

583
00:22:57.712 --> 00:22:58.254
pick a lane,

584
00:22:58.796 --> 00:23:00.983
become really knowledgeable about that lane,

585
00:23:01.464 --> 00:23:03.090
but come from contribution.

586
00:23:03.290 --> 00:23:05.739
You want to truly impact people's lives.

587
00:23:05.779 --> 00:23:08.328
So it's not just about investing for my clients,

588
00:23:08.730 --> 00:23:09.593
but I'm teaching them.

589
00:23:10.115 --> 00:23:14.232
I'm connecting them with a tax strategist so that we can help keep more of that money.

590
00:23:14.792 --> 00:23:21.392
I'm teaching them about other investment opportunities so that we can diversify and not keep everything just in one place.

591
00:23:21.816 --> 00:23:23.925
but I really truly want to put the client first.

592
00:23:24.085 --> 00:23:25.410
I want to know what their goals are.

593
00:23:25.471 --> 00:23:27.098
I want to know what kind of investor they are.

594
00:23:27.460 --> 00:23:31.440
I want to be able to celebrate some of the wins with them because that's really fun and amazing.

595
00:23:31.841 --> 00:23:33.811
And then I challenge them to teach other people,

596
00:23:33.911 --> 00:23:39.753
whether they're going to refer to me or take the time to teach other people because I want to impact one life,

597
00:23:40.175 --> 00:23:42.523
but that one life can impact hundreds,

598
00:23:42.663 --> 00:23:42.924
right?

599
00:23:43.326 --> 00:23:46.459
And so it's really important for me that if you're getting into this field,

600
00:23:46.479 --> 00:23:48.088
that you get into it for the right reasons,

601
00:23:48.108 --> 00:23:49.772
which is not making money for yourself.

602
00:23:50.304 --> 00:23:54.600
but helping other people change their lives and generations in front of them.

603
00:23:56.069 --> 00:23:59.052
So since we are a show for women in midlife,

604
00:23:59.492 --> 00:24:01.634
I often like to ask my guests,

605
00:24:02.235 --> 00:24:05.839
what do they wish for themselves at this point in their life?

606
00:24:06.219 --> 00:24:06.459
You know,

607
00:24:06.479 --> 00:24:07.501
you've been through a lot,

608
00:24:08.021 --> 00:24:08.401
but then,

609
00:24:08.802 --> 00:24:09.042
you know,

610
00:24:09.082 --> 00:24:11.284
there's a lot more to go and experience.

611
00:24:11.385 --> 00:24:14.668
What do you wish for yourself in midlife at this point?

612
00:24:15.389 --> 00:24:15.550
Yeah,

613
00:24:15.610 --> 00:24:20.459
I think there was a book that I had read and it talked about like they interviewed people that were,

614
00:24:20.1000 --> 00:24:21.280
you know,

615
00:24:21.781 --> 00:24:22.162
dying.

616
00:24:22.322 --> 00:24:22.563
Right.

617
00:24:23.164 --> 00:24:23.725
And asked,

618
00:24:23.745 --> 00:24:25.268
what's one thing that you wish you would have done?

619
00:24:25.934 --> 00:24:29.782
and most common answers were live life more,

620
00:24:30.444 --> 00:24:31.426
volunteer more,

621
00:24:31.987 --> 00:24:32.748
give more,

622
00:24:33.169 --> 00:24:33.951
travel more.

623
00:24:34.432 --> 00:24:37.584
So making sure that all of those are budget items in your,

624
00:24:37.765 --> 00:24:38.006
you know,

625
00:24:38.046 --> 00:24:39.412
line items in your current budget,

626
00:24:39.713 --> 00:24:42.181
so key because tomorrow's not promised.

627
00:24:42.262 --> 00:24:45.252
I'm here today and I do my best to take care of my health,

628
00:24:45.733 --> 00:24:45.913
but

629
00:24:46.415 --> 00:24:48.262
I don't want to have that kind of wish.

630
00:24:48.443 --> 00:24:48.925
I want to be,

631
00:24:49.246 --> 00:24:49.527
you know,

632
00:24:49.587 --> 00:24:50.872
those last days for me saying

633
00:24:51.294 --> 00:24:53.225
I gave everything I could.

634
00:24:53.406 --> 00:24:54.412
So volunteering.

635
00:24:55.074 --> 00:24:56.421
giving back to my church,

636
00:24:56.823 --> 00:24:57.848
traveling the world,

637
00:24:57.928 --> 00:24:59.567
if that's something that's important to you,

638
00:25:00.090 --> 00:25:01.707
making sure that you're living today.

639
00:25:02.766 --> 00:25:04.438
but also planning for tomorrow.

640
00:25:05.880 --> 00:25:10.658
And the interesting thing about that is in midlife,

641
00:25:10.818 --> 00:25:14.178
that's the point where all of those things seem possible.

642
00:25:14.418 --> 00:25:14.642
You know,

643
00:25:14.723 --> 00:25:15.475
when you're younger,

644
00:25:15.475 --> 00:25:15.678
it's like,

645
00:25:15.778 --> 00:25:15.899
oh,

646
00:25:15.939 --> 00:25:18.378
I really want to travel or you're wishful.

647
00:25:18.783 --> 00:25:19.818
But in midlife.

648
00:25:20.547 --> 00:25:22.018
children are out of the house.

649
00:25:22.218 --> 00:25:26.918
Usually money is at a point where,

650
00:25:27.058 --> 00:25:27.497
you know,

651
00:25:27.859 --> 00:25:29.138
you can do those things.

652
00:25:29.278 --> 00:25:30.978
So I like that advice,

653
00:25:31.198 --> 00:25:34.418
basically set yourself up so that you can do that.

654
00:25:34.479 --> 00:25:35.717
Cause midlife has a span,

655
00:25:35.878 --> 00:25:36.096
you know,

656
00:25:36.402 --> 00:25:37.177
I say 40.

657
00:25:38.086 --> 00:25:38.687
as you know,

658
00:25:38.707 --> 00:25:40.393
that's my number where it begins,

659
00:25:41.015 --> 00:25:41.255
but

660
00:25:41.596 --> 00:25:41.897
I mean,

661
00:25:41.998 --> 00:25:42.559
it can go on.

662
00:25:42.539 --> 00:25:43.843
You can live until whenever,

663
00:25:44.204 --> 00:25:44.565
you know?

664
00:25:45.207 --> 00:25:45.347
So,

665
00:25:45.888 --> 00:25:46.089
um,

666
00:25:46.410 --> 00:25:48.796
I do appreciate you being here,

667
00:25:49.117 --> 00:25:49.478
Angela,

668
00:25:50.019 --> 00:25:53.494
if you can kind of give an overview of how people can get in contact with you,

669
00:25:53.816 --> 00:25:55.002
I'm going to put it in the description,

670
00:25:55.645 --> 00:25:59.440
but just kind of share with people how they can get in contact with you.

671
00:25:59.460 --> 00:25:59.922
That'd be great.

672
00:26:00.442 --> 00:26:00.623
Yeah.

673
00:26:00.623 --> 00:26:01.307
And if it's okay,

674
00:26:01.327 --> 00:26:02.051
I have a freebie.

675
00:26:02.111 --> 00:26:04.122
I would love to help out your audience as well.

676
00:26:04.720 --> 00:26:08.498
One of the things I talked about was figuring out what kind of investor you are.

677
00:26:08.759 --> 00:26:11.338
So important before you determine what you're going to invest in.

678
00:26:11.738 --> 00:26:14.518
And so I've created a fun quiz for you to take.

679
00:26:14.999 --> 00:26:16.786
If you reach out to me on Instagram,

680
00:26:17.026 --> 00:26:20.842
empower her money and just type in the word quiz in my messages,

681
00:26:20.962 --> 00:26:24.878
I'll make sure they get that link so that they can figure out what kind of investor they are.

682
00:26:24.978 --> 00:26:25.381
But yes,

683
00:26:25.523 --> 00:26:27.338
empower her money on Instagram and TikTok.

684
00:26:27.920 --> 00:26:29.818
My podcast is called empower her money.

685
00:26:29.878 --> 00:26:32.818
I would love to connect and answer any money questions you have.

686
00:26:33.844 --> 00:26:35.439
Thank you so much for being here,

687
00:26:35.540 --> 00:26:35.762
Angela.

688
00:26:35.962 --> 00:26:37.087
And I want to have you back,

689
00:26:37.629 --> 00:26:38.975
kind of just do a check,

690
00:26:39.035 --> 00:26:41.746
especially if I start my real estate investing,

691
00:26:42.188 --> 00:26:43.573
just kind of giving you,

692
00:26:43.734 --> 00:26:44.838
we can kind of talk about the,

693
00:26:45.160 --> 00:26:46.549
give an overview of what's happening,

694
00:26:46.549 --> 00:26:47.195
what I'm doing right,

695
00:26:47.216 --> 00:26:47.862
what I'm doing wrong.

696
00:26:48.225 --> 00:26:49.422
So that would be great.

697
00:26:49.622 --> 00:26:51.262
Thanks again for being here.

698
00:26:51.704 --> 00:26:52.201
Thank you.

699
00:26:54.902 --> 00:26:56.902
You're listening to the Mature Allure Podcast.

700
00:26:57.804 --> 00:26:58.432
I'm your host,

701
00:26:58.675 --> 00:26:59.141
Sherri O.

702
00:26:59.783 --> 00:27:03.062
If you have a topic in mind that you'd like us to cover on Mature Allure,

703
00:27:03.662 --> 00:27:08.102
drop us a note in the comments or share it with us on one of our social media channels.

704
00:27:08.763 --> 00:27:09.833
Until the next time,

705
00:27:10.338 --> 00:27:10.682
remember,

706
00:27:11.302 --> 00:27:15.822
self-love is the key to unlocking the radiant allure that shines from within.