Nov. 22, 2025
Episode 319 - The Turning Point That Helped Me Stop Consuming and Start Building Wealth
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In this episode, host Paul Lawrence Vann shares the pivotal moment that changed his relationship with money forever. Learn how to shift from consumer habits to wealth-building actions, uncover practical steps to begin creating assets, and hear insights that will inspire you to transform your financial destiny.
Key Takeaways:
- Identify your personal turning point
- Replace consumerism with creator habits
- Build a sustainable wealth mindset
- Embrace delayed gratification for long-term freedom
Support this podcast at — https://redcircle.com/wealth-academy-podcast-wealth-is-more-than-just-money/donations
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[SPEAKER_00]: your host Paul Alon's band and episode 319, I welcome each and every one of you to this particular episode and be willing to share this title of this episode.
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[SPEAKER_00]: The turning point that helped me stop
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[SPEAKER_00]: and start building wealth.
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[SPEAKER_00]: And I also, with this particular segment that I'm providing, is to help you.
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[SPEAKER_00]: And when I post these particular questions to you, I will also answer them for myself.
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[SPEAKER_00]: So welcome to the wealth academy podcast where we believe that wealth is more than just money.
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[SPEAKER_00]: It's mindset, habits, and the curse to build something lasting.
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[SPEAKER_00]: I'm your host Paul Lines van and today I'm diving deep into a defining moment that changed everything.
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[SPEAKER_00]: The moment I stopped being a consumer and started becoming a creator of wealth.
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[SPEAKER_00]: This episode isn't just about money, it's about transformation.
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[SPEAKER_00]: Because the truth is, wealth begins the moment you start buying into everyone else's dream and start building your home.
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[SPEAKER_00]: And this is very important primarily because we know
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[SPEAKER_00]: that we live in a consumer society and oftentimes we're really driven by the commercials we see whether they are on television and social media on radio, on podcasts, wherever it may be, we seem to be marketed to more than anyone else on planet Earth.
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[SPEAKER_00]: And as a result, we have this by consume and spend mentality and we're going to have to make a transformation in order to
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[SPEAKER_00]: be able to align with the fact in realization that we truly need to be more of a wealth builders as opposed to making someone else wealthy.
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[SPEAKER_00]: And so during this episode, I'm going to start with these questions, I'll post a question to you and then I'll answer it from my own personal perspective and that way we all
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[SPEAKER_00]: And followers, no and colleagues, no about this particular episode, episode 319, the turning point that helped me start consuming and start building wealth because this is truly where wealth building starts for a this particular series that that I have here.
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[SPEAKER_00]: So the question number one is what is the exact moment that made you realize you needed to stop consuming and start building well.
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[SPEAKER_00]: Now, this helps you all to identify your own wake-up moment that sparks financial transformation.
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[SPEAKER_00]: And for me, that transformation really occurred once I separated from the United States Air Force.
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[SPEAKER_00]: And I decided to give the business industry a go at it, if you will.
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[SPEAKER_00]: And I was recruited by mobile or company.
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[SPEAKER_00]: And I worked for mobile, chemical company in Beaumont, Texas.
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[SPEAKER_00]: And our regional office was in Houston, Texas.
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[SPEAKER_00]: And so I found myself at that crossroads while left the military.
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[SPEAKER_00]: And I was basically professionally start and all over.
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[SPEAKER_00]: And I've made the departure from Ohio.
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[SPEAKER_00]: from Illinois, while I was at the time I was signed at the time Scott F was basically saying Louis and I made my way to Beaumont, Texas and I needed housing and I needed housing because I had planned on really stand there for a while.
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[SPEAKER_00]: that meaning at mobile chemical, it was the oil and gas business and I felt that that would give me probably the best edge in terms of earnings for my career.
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[SPEAKER_00]: And so shortly after arriving there I hired a real estate agent and she took me around to several houses and I took a look at them and then I purchased my very first house and that was really the aspect of me transforming from
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[SPEAKER_00]: a consumer to a starting wealth because with that house it really changed the dynamics because it's the first house I ever owned and it also helped prepare me to get my second house years later but it laid the foundation for me so that was really the transformation for me and then I found myself stop consuming because once she purchased a house
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[SPEAKER_00]: It's not like on a rent where you have to do the lawn or you have to take care of pairs.
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[SPEAKER_00]: But what a house you do have to do that.
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[SPEAKER_00]: So, of course, I had to mow the lawn.
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[SPEAKER_00]: I have to make any repairs in the house that I purchased and was a very nice house.
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[SPEAKER_00]: Not too far from work, so it worked out quite well for me.
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[SPEAKER_00]: And but that was my transformation and what about shorts when did you make that transformation or have you made it yet depending on who you are and what you do and what.
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[SPEAKER_00]: level that you happen to be in your professional career or as an entrepreneur.
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[SPEAKER_00]: But for me, it was, that was the moment that I realized I had to stop consuming because I had to really take things serious, looking at things assurance on the property, and it was near the Gulf Coast.
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[SPEAKER_00]: So with that being said, the hurricanes that came in over the years, I think I experienced about five
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[SPEAKER_00]: And with damage at one point, the latter give about $10,000 worth of one storm damage.
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[SPEAKER_00]: And so at that point, I'm no longer a consumer, but I'm actually investing in the house that I was living in at the time and then you have to take care of course all of your utilities as I mentioned before, you're insurance and then you have to look at any repairs that are being made.
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[SPEAKER_00]: That was the moment that I realized and I want you to think about what was the moment for you to.
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[SPEAKER_00]: And then the next question is, how did your relationship with money change once you shifted from spending to investing?
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[SPEAKER_00]: And from this standpoint, you learn how the mindset directly shapes your financial habits and your outcomes.
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[SPEAKER_00]: And for me, mine,
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[SPEAKER_00]: relationship with money changed when I shipped it from spending to investing was when I two years later when I was living in that house in Aboma, Texas, I received a call from a kernel from the Pentagon.
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[SPEAKER_00]: And he asked me, he said, Paul, he said, we saw your paperwork and we see that you're trying to get into the reserves.
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[SPEAKER_00]: How would you like to come back on active duty?
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[SPEAKER_00]: because I was a cost-estimated and they were looking for a cost and let's become up and perform some work for them.
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[SPEAKER_00]: So I agree, I would left mobile or company and I went back to the United States Air Force in the Pentagon.
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[SPEAKER_00]: And as a result of that, that's when I shifted from spending to investing because, again, in many ways, I was starting a whole over.
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[SPEAKER_00]: And as a result of starting a whole over, I found myself, okay, so now I have to find a place to live.
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[SPEAKER_00]: So I stayed with a friend of mine from college, college class man.
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[SPEAKER_00]: He was also at XF4C and left at F4C and started working for the FAA.
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[SPEAKER_00]: So I stayed with him and hence why for about 90 days, while I was waiting for my orders to come through to come back on an active duty.
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[SPEAKER_00]: And then it was stalled, and so I took a job.
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[SPEAKER_00]: And I sold cell phones for GTE mobile communications in Alexandria, Virginia.
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[SPEAKER_00]: And what that experience taught me was sales.
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[SPEAKER_00]: And I would sell cell phones up above services.
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[SPEAKER_00]: And the next thing you know, I was selling phones and service to the,
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[SPEAKER_00]: That time the Washington Redskins and addition to the Washington Bullets who are now the Washington Wizards.
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[SPEAKER_00]: So I met athletes from there some from a home state of North Carolina and it was another experience and as I was waiting I was kind of getting into the social life a little bit more because I was just waiting to find out when when I come back on duty.
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[SPEAKER_00]: Because I came back to the Washington area on New Years of 1989.
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[SPEAKER_00]: And it wasn't until June of 1990 that I came back on active duties.
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[SPEAKER_00]: And when I came back, of course, I had to find somewhere to stay.
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[SPEAKER_00]: So I left my college classmates house and I ended up getting apartment not too far from joint base andries.
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[SPEAKER_00]: And I stayed there.
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[SPEAKER_00]: I think for probably a couple of years and then at that point, I started looking for housing closer to the Pentagon because I was still there and I found this townhouse and I
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[SPEAKER_00]: purchase it.
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[SPEAKER_00]: And then a couple of years later, I saw this sign on this house, which used to be the myor house on this subdivision.
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[SPEAKER_00]: And I looked at it, you know, it's phone number for the partner veteran affairs.
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[SPEAKER_00]: So apparently a veteran and his wife had been in the house.
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[SPEAKER_00]: And they lost it.
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[SPEAKER_00]: They lost the property.
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[SPEAKER_00]: So I ended up taking there.
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[SPEAKER_00]: VA loan and I purchased this house the one in which I live in today and so when you look at what shift at me from spending to investing I still have the house in taxes.
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[SPEAKER_00]: And now I have a house in Maryland, so I have two houses, but I'm elicing out the property in Texas that I have left.
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[SPEAKER_00]: So that's when the investing start coming in.
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[SPEAKER_00]: And basically the tenant was paying for my house.
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[SPEAKER_00]: All I had to do was get property management of which I did, and they did a great job.
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[SPEAKER_00]: And I at least had a house out, and I had it for about 12 years.
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[SPEAKER_00]: And that worked out really great, and I purchased this house.
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[SPEAKER_00]: And then years later, at that retired,
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[SPEAKER_00]: and for about twice as much as I paid for it.
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[SPEAKER_00]: So that was investing aspect where my relationship with money changed once I shifted from spending to investing.
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[SPEAKER_00]: So at that point I had a new house, of course, and with a new house I bought the property as it is.
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[SPEAKER_00]: So what that meant was that was repairs in the property and have to get in shards and basically have been in this house since 1997.
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[SPEAKER_00]: And so as a result, the investing still continues because, again, I'm looking for other properties.
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[SPEAKER_00]: So the next question, question number three, is what were the biggest fears of doubts of face doing that transition?
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[SPEAKER_00]: And I want you to preface this to yourself.
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[SPEAKER_00]: What were your biggest fears of doubts you face doing the transition?
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[SPEAKER_00]: and what we're looking for here is the highlight and the emotional and psychological barriers that many faced when shifting from consumer to creator.
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[SPEAKER_00]: And so, in my particular case, I ended up in the Pentagon, I stayed there for 12 years,
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[SPEAKER_00]: And there was a war and a couple of conflicts that took place, so my mind really shifted away from my personal side, but what to the professional side because of the demands, and of course we know doesn't storm does a shield and then later on we had a 9.11.
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[SPEAKER_00]: So when you have these type of things taking place, my personal life kind of took a back seat to what was happened in the greater world.
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[SPEAKER_00]: And so when it came to the biggest fears of Dallas, I faced doing that transition, it was more so one of us staying with stability.
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[SPEAKER_00]: And by staying with stability as to stay in place, don't move anywhere else.
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[SPEAKER_00]: continue to keep your dollars local.
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[SPEAKER_00]: And when we look at the war, things heightened, there's more pressure.
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[SPEAKER_00]: There's no, I come in at this time, I'll leave at that time.
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[SPEAKER_00]: You come in and you may not leave for another day or two.
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[SPEAKER_00]: And so I have to pack for that, and I have the gym at the Pentagon, put the Pentagon offices, the athletic club,
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[SPEAKER_00]: but you take extra clothing, in case you don't go home, extra uniform, extra undergarments, and of course your toiletries.
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[SPEAKER_00]: So when it came down to that, I found myself from a consumer to creator.
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[SPEAKER_00]: I just stayed in place and ultimately, I retired.
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[SPEAKER_00]: And after I retired,
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[SPEAKER_00]: It immediately became an entrepreneur because it's really kind of who I am.
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[SPEAKER_00]: And as a result, if I looked at from shifting from consumer to creator, I made that shift from being employed for 22 years and in other states Air Force to become an
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[SPEAKER_00]: podcasted hosted a radio show first called the wealthy speaker talk radio show with probably 800 episodes and then I shifted over to the podcast when podcasts became a little bit more mainstream and for me that happened in 2004.
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[SPEAKER_00]: In 2024 rather and
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[SPEAKER_00]: As a result, I found myself, well actually it was 2020 because that's when we COVID hit and I decided instead of not promoted and marketing my business, I can use that through the podcasts itself and so when it came to fears of doubts really didn't have any because I was kind of condition through the military.
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[SPEAKER_00]: four crises situations.
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[SPEAKER_00]: So the next question number four, as we've moved and right along, is what habits did you have to let go of to truly start building wealth.
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[SPEAKER_00]: And this of course offers some actionable insight into replacing the structure spending patterns with productive habits.
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[SPEAKER_00]: Well, one thing that really helped me was the fact that my main
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[SPEAKER_00]: I guess you would say responsibility and the military was that of leadership, but my functional specialty was financial management and I retired as a certified financial manager.
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[SPEAKER_00]: And as a result of money topics was not really a big issue for me because it's what I had been a part of for so long.
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[SPEAKER_00]: And so when we get down to start building wealth, I just shifted from, okay, I will receive
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[SPEAKER_00]: and now military retirement paid, and I would shift over to contractors.
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[SPEAKER_00]: I did contracting for a couple of years for organization, and right there, still at the Pentagon for two years.
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[SPEAKER_00]: And after that, I just decided, I wanted to start becoming a speaker and going out for a time, doing it.
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[SPEAKER_00]: And so as a result, the habits that I'll let go was no longer thinking in terms of being employee,
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[SPEAKER_00]: a creator and an employee year.
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[SPEAKER_00]: And so I found myself putting together contracts of organization and doing like data to 12 city speaking to and I spoke to Fortune 500 companies, federal government organization is not on profits and even more.
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[SPEAKER_00]: And so that's when I really started building wealth at that time.
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[SPEAKER_00]: So I found myself at that point where I had a coach for speaking,
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[SPEAKER_00]: I learned how to write my verifurs book through that coach and then I started training.
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[SPEAKER_00]: I did a lot of diversity training all over the country and then I started doing a lot of media work.
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[SPEAKER_00]: So for me, what I had to let go was just,
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[SPEAKER_00]: letting go of that employee-centered relationship or philosophy and coming more into the entrepreneurship space.
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[SPEAKER_00]: And so what is it for you?
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[SPEAKER_00]: And what helped you to replace the destructive spending patterns?
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[SPEAKER_00]: Because once I became an entrepreneur, there was a lot of investment taking place.
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[SPEAKER_00]: having websites built and I built my first websites myself, writing the book, I self-published my book, I hosted my own radio talk radio show and now podcasts.
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[SPEAKER_00]: And so there were a lot of things that I shifted from thinking that it was an aspect of power and someone else to do and I did it myself.
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[SPEAKER_00]: But I saved in that process,
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[SPEAKER_00]: So the question five is, what financial principles got at you during this turning point?
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[SPEAKER_00]: But of course, for you, this helps educate you on the foundational strategies like budgeting, saving, and compound interest.
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[SPEAKER_00]: So again, the question is, what financial principles got at you during this turning point?
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[SPEAKER_00]: Well, for me, again, I had been in that financial space for years and I'm a certified financial planner.
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[SPEAKER_00]: and also help start.
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[SPEAKER_00]: I also learn how to conduct financial literacy for different organizations.
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[SPEAKER_00]: And as a result, I helped work with the Maryland Legislature, which is the state I reside in, help them to get a bill pass, a Senate Bill 500, and
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[SPEAKER_00]: that help provide an elective for students and every county in the state of Maryland.
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[SPEAKER_00]: But now the requirement is all the students have to complete the financial that is the program before they can actually graduate from high school.
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[SPEAKER_00]: So from that standpoint, I started providing
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[SPEAKER_00]: different financial programs to clients such as coaching, have digital courses, and I do different things to help people.
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[SPEAKER_00]: And of course, this podcast is a great platform, it's a point of that.
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[SPEAKER_00]: And so when it came to investing and saving and all understanding,
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[SPEAKER_00]: what now are called financial intelligence sharing that with people and helping them to understand the importance of being a financial leader and that also helps.
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[SPEAKER_00]: So that was a turning point for me going through the programs
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[SPEAKER_00]: that was headed up by the FDIC, the Federal Deposit Insurance Corporation, they funded and hosted these programs and I went through it and so I received different presentations to deliver to different organizations.
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[SPEAKER_00]: And so that's what's the turning point of what financial principles got it beyond this turning point.
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[SPEAKER_00]: Now, question six is, who influenced a mentor to you during your wealth building journey?
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[SPEAKER_00]: and of course for you, the emphasis is going to be on the importance of community guidance and mentorship in the financial success.
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[SPEAKER_00]: Well, for me, again, I'm more so in that financial space meaning that even when I was on active duty in the military, I helped set up a junior achievement program at a school in Ovalon, Ohio, which is in the
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[SPEAKER_00]: Illinois area, and at this high school, a Fallon High School, I helped set up that programs our top students, how to start a business, and how to make money, and we did that.
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[SPEAKER_00]: We had about 300 students that applied for the program, and we selected 30.
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[SPEAKER_00]: And we split up the 30 people into two groups.
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[SPEAKER_00]: at that school for the very first time.
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[SPEAKER_00]: And we taught them how to start a business and to sell products.
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[SPEAKER_00]: And it was very successful.
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[SPEAKER_00]: So again, I've been in this space a long time.
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[SPEAKER_00]: And also when I was on Capital Hill, I was primarily in that space of obtainance, securing funding for all branches of the service.
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[SPEAKER_00]: And then I went to, after I retired, I went to the
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[SPEAKER_00]: family readiness for the National Guard Bureau and helping families with their finances when they had a loved one who was departed on a deployment in support of Desert Shill and different programs, conflicts such as that.
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[SPEAKER_00]: So, yeah, that is one.
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[SPEAKER_00]: And if you look that mentor
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[SPEAKER_00]: When you really get down to it, I'm self-mentored, but I have really attended a lot of schools at the United States Air Force provided for me, and I have over 40 hours of accounting, so I can actually sit.
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[SPEAKER_00]: for the Certified Professional Accountant CPA certification if I choose to do it.
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[SPEAKER_00]: And so it's all been a part of me.
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[SPEAKER_00]: And I have two masters degrees in business administration.
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[SPEAKER_00]: And a bachelor's degree in business and accounting.
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[SPEAKER_00]: So it's really the feel that I have actually happened to have been in most of my professional career.
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[SPEAKER_00]: OK, question seven, how did your lifestyle and relationship change as you embraced building over?
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[SPEAKER_00]: embrace wealth building over consuming.
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[SPEAKER_00]: Now what this question really takes into account and I'll read it again how it's your lifestyle and relationship change as you embrace wealth building over consuming.
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[SPEAKER_00]: Now for you it shows the broader impact wealth building has on one's life relationships itself work and for me I look at it as being holistic holistic
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[SPEAKER_00]: and finances and my business life and finances and getting them all aligned that the personal finances differ from the business financing.
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[SPEAKER_00]: And when it comes to wealth building, you know, it's investing in real estate is investing in insurance policies is investing in stocks and bonds.
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[SPEAKER_00]: And so when you look at my personal lifestyle, that's the direction
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[SPEAKER_00]: It would be earning revenue, generating revenue, pouring the monies back into the business, investing in myself for coaches and for different programs that would help accelerate my business.
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[SPEAKER_00]: And so from that standpoint, I have both the personal life and the business life that are separate, but yet they're
22:59.157 --> 23:22.043
[SPEAKER_00]: align and then when it comes down to self-worth is that me, knowing the things that I know, I know if there is a economic crisis, I know how to navigate it one way or the other and continue to flow and define ways to continue to lead my business irrespective of the economy.
23:22.023 --> 23:28.029
[SPEAKER_00]: You just have to make shifts and I'm wholly aware of that and I hope that you are as well.
23:28.489 --> 23:37.078
[SPEAKER_00]: So let's get to the last question now and the last question is what advice would you give to someone ready to make their own turning point to that?
23:37.759 --> 23:45.807
[SPEAKER_00]: And not only this question is for me, but it's for you too, whether you're a mentoring youth in the community or your own child or family members.
23:46.227 --> 23:47.929
[SPEAKER_00]: Someone at your house of worship.
23:48.331 --> 23:56.244
[SPEAKER_00]: I could be at a non-profit that you work with, but the question again is, what advice would you give to someone ready to make their home turning point today?
23:56.725 --> 24:04.097
[SPEAKER_00]: And what this does is it inspires immediate action and give listeners a starting point for transformation.
24:04.918 --> 24:12.010
[SPEAKER_00]: And so my advice to everyone is this, and it's one that you should hold, Dilly is that,
24:12.327 --> 24:22.002
[SPEAKER_00]: we know that money is more of a resource and the more money that we have, the more we can do, we can help people.
24:23.424 --> 24:39.870
[SPEAKER_00]: Oftentimes when it comes to wealth, sometimes it's not monetary, but it's as a community leader, or it is as a mentor to youth, or it is to an organization, a community-based
24:40.154 --> 25:02.213
[SPEAKER_00]: So wealth is more than just money as I will monitor for this podcast state, but when it comes to the starting point today what I would tell someone is that it's very important to really understand money and your relationship with money and then once you understand your relationship with money,
25:02.513 --> 25:05.856
[SPEAKER_00]: you're quickly understand that money wants you to multiply it.
25:05.876 --> 25:14.705
[SPEAKER_00]: So you want to start learning how to have an abundance money set where money comes and flows to you easily.
25:14.745 --> 25:17.908
[SPEAKER_00]: And you don't have a scarcity mindset.
25:17.948 --> 25:32.082
[SPEAKER_00]: Well, you said, well, I'd like to do this, but I can't do it because I just don't have the money, but you can come up with ideas and ways of sourcing money to help you invest in yourself and are your business.
25:32.062 --> 25:41.599
[SPEAKER_00]: understand what your personal relationship is with money and continue to develop it over time and I believe that
25:41.849 --> 25:47.777
[SPEAKER_00]: Anyone is capable of doing it and I'll share this quick story with you as I'm wrapping this up.
25:47.837 --> 25:59.111
[SPEAKER_00]: There was a lady in Mississippi and she washed clothes for college students at a campus, I think it's southern Mississippi.
26:00.193 --> 26:05.680
[SPEAKER_00]: And she never put up money in the back and then finally she has so much money in her mattress.
26:06.048 --> 26:08.592
[SPEAKER_00]: that a bank has said, hey, you should put that money in the bank.
26:08.632 --> 26:10.935
[SPEAKER_00]: So you don't lose it or someone was still at all.
26:10.955 --> 26:13.799
[SPEAKER_00]: If you have a fire and your house is something like that.
26:13.880 --> 26:18.406
[SPEAKER_00]: So she believed and him and trusted him as she provided money in the bank.
26:18.426 --> 26:27.820
[SPEAKER_00]: And over the years, as she had never finished school, she I think she stopped school and maybe they'd fifth for sixth grade, she had over $300,000.
26:28.829 --> 26:40.634
[SPEAKER_00]: And since she never got married and have any children, she just decided to make it a source to help students under privileged students with scholarships to attend college.
26:41.496 --> 26:45.825
[SPEAKER_00]: And not only does she do that, but the alumni at the university.
26:46.261 --> 26:55.351
[SPEAKER_00]: decided to double that investment and it ended up with $600,000 and to this day, I think her name is Mrs. McCarthy.
26:56.272 --> 27:07.104
[SPEAKER_00]: And she to this day, those scholars, she's passed away, but those scholarships continue to go to students to this day and it's all because of her relationship with money.
27:07.885 --> 27:14.732
[SPEAKER_00]: She when she was growing up her parents had passed away since she stayed with her aunt
27:15.067 --> 27:20.914
[SPEAKER_00]: And so she'd never had to pay for her housing because she lived in their house.
27:20.934 --> 27:23.657
[SPEAKER_00]: She'd never had a new TV she used to one that they had.
27:24.198 --> 27:33.289
[SPEAKER_00]: She didn't drive so she had a shopping cart and she would take her food at the shopping cart and then take a food home and then return to cart.
27:34.290 --> 27:39.176
[SPEAKER_00]: But the more of the story is there is a way, will, there's a way.
27:39.897 --> 27:43.842
[SPEAKER_00]: And that's what I say to people today
27:44.294 --> 27:53.443
[SPEAKER_00]: You have to have and know what your personal relationship is with money and the sooner you understand what it is, the further long you will get.
27:53.677 --> 27:58.084
[SPEAKER_00]: So in close and I hope you really enjoy this particular episode.
27:58.204 --> 27:59.647
[SPEAKER_00]: I enjoyed sharing it with you.
27:59.747 --> 28:18.537
[SPEAKER_00]: I was kind of chilling today, really just putting this information out there, mostly for you to understand it and pose in these questions to you and yet answering them personally for myself to stimulate from thought and some consideration from yourself.
28:18.517 --> 28:22.561
[SPEAKER_00]: And so, in closing, every wealth builder reaches across roads.
28:23.081 --> 28:37.535
[SPEAKER_00]: And it's a moment that defines whether you'll continue consuming what others create, or begin crafting your own path to financial independence, whether you're going to start a business or just become an investor or whatever it may be.
28:38.036 --> 28:40.278
[SPEAKER_00]: Because you can join, of course, investment clubs.
28:40.979 --> 28:44.582
[SPEAKER_00]: And the turning point isn't about perfection, it's about progress.
28:44.783 --> 28:47.325
[SPEAKER_00]: And we want to be better today than we work yesterday.
28:47.660 --> 28:51.705
[SPEAKER_00]: And remember, when you start building, you start believing in yourself again.
28:52.146 --> 28:57.853
[SPEAKER_00]: And that belief compounds faster than any stock bond are crypto, ever could.
28:58.373 --> 29:01.778
[SPEAKER_00]: Now, as always, I always have a call to action.
29:02.619 --> 29:13.012
[SPEAKER_00]: And what I'm going to share about the call of action today is this, if this episode spoke to you, share it with someone who's ready to make their own turning point towards financial freedom.
29:14.193 --> 29:16.536
[SPEAKER_00]: Subscribe to Well for Academy podcast,
29:16.904 --> 29:21.447
[SPEAKER_00]: on your favorite platform and I recommend that you leave a review.
29:22.253 --> 29:45.513
[SPEAKER_00]: at Apple Podcasts and just simply go to Apple Podcasts and look for welfare category podcasts and you'll find me there and leave a review when a five-star rating and then join our Facebook community lead yourself to wealth which is a private Facebook group and let's build wealth together one decision at a time.
29:45.913 --> 29:51.298
[SPEAKER_00]: And thank you so much for your time today for listening
29:51.498 --> 29:52.841
[SPEAKER_00]: and your colleagues.
29:53.042 --> 29:54.606
[SPEAKER_00]: And I really appreciate it.
29:55.107 --> 29:56.150
[SPEAKER_00]: And thank you so much.
29:56.230 --> 30:00.501
[SPEAKER_00]: And I'll see you on the next episode of Wealth Academy podcast.
30:00.561 --> 30:03.388
[SPEAKER_00]: Again, I'm your host Paul Lawrenceman.
30:03.408 --> 30:04.090
[SPEAKER_00]: Enjoy your day.
00:12.350 --> 00:25.356
[SPEAKER_00]: your host Paul Alon's band and episode 319, I welcome each and every one of you to this particular episode and be willing to share this title of this episode.
00:25.436 --> 00:28.182
[SPEAKER_00]: The turning point that helped me stop
00:28.162 --> 00:29.964
[SPEAKER_00]: and start building wealth.
00:30.525 --> 00:36.112
[SPEAKER_00]: And I also, with this particular segment that I'm providing, is to help you.
00:36.152 --> 00:42.961
[SPEAKER_00]: And when I post these particular questions to you, I will also answer them for myself.
00:42.981 --> 00:47.327
[SPEAKER_00]: So welcome to the wealth academy podcast where we believe that wealth is more than just money.
00:47.867 --> 00:51.452
[SPEAKER_00]: It's mindset, habits, and the curse to build something lasting.
00:51.432 --> 00:57.441
[SPEAKER_00]: I'm your host Paul Lines van and today I'm diving deep into a defining moment that changed everything.
00:57.961 --> 01:02.748
[SPEAKER_00]: The moment I stopped being a consumer and started becoming a creator of wealth.
01:03.189 --> 01:07.235
[SPEAKER_00]: This episode isn't just about money, it's about transformation.
01:07.715 --> 01:15.907
[SPEAKER_00]: Because the truth is, wealth begins the moment you start buying into everyone else's dream and start building your home.
01:16.288 --> 01:19.212
[SPEAKER_00]: And this is very important primarily because we know
01:19.495 --> 01:37.538
[SPEAKER_00]: that we live in a consumer society and oftentimes we're really driven by the commercials we see whether they are on television and social media on radio, on podcasts, wherever it may be, we seem to be marketed to more than anyone else on planet Earth.
01:37.978 --> 01:47.410
[SPEAKER_00]: And as a result, we have this by consume and spend mentality and we're going to have to make a transformation in order to
01:47.390 --> 01:59.966
[SPEAKER_00]: be able to align with the fact in realization that we truly need to be more of a wealth builders as opposed to making someone else wealthy.
02:00.407 --> 02:14.545
[SPEAKER_00]: And so during this episode, I'm going to start with these questions, I'll post a question to you and then I'll answer it from my own personal perspective and that way we all
02:14.980 --> 02:35.019
[SPEAKER_00]: And followers, no and colleagues, no about this particular episode, episode 319, the turning point that helped me start consuming and start building wealth because this is truly where wealth building starts for a this particular series that that I have here.
02:35.480 --> 02:43.047
[SPEAKER_00]: So the question number one is what is the exact moment that made you realize you needed to stop consuming and start building well.
02:44.410 --> 02:52.288
[SPEAKER_00]: Now, this helps you all to identify your own wake-up moment that sparks financial transformation.
02:53.190 --> 03:01.710
[SPEAKER_00]: And for me, that transformation really occurred once I separated from the United States Air Force.
03:02.483 --> 03:08.852
[SPEAKER_00]: And I decided to give the business industry a go at it, if you will.
03:09.272 --> 03:11.395
[SPEAKER_00]: And I was recruited by mobile or company.
03:11.415 --> 03:15.161
[SPEAKER_00]: And I worked for mobile, chemical company in Beaumont, Texas.
03:15.301 --> 03:17.784
[SPEAKER_00]: And our regional office was in Houston, Texas.
03:18.305 --> 03:22.771
[SPEAKER_00]: And so I found myself at that crossroads while left the military.
03:23.332 --> 03:26.597
[SPEAKER_00]: And I was basically professionally start and all over.
03:27.518 --> 03:30.482
[SPEAKER_00]: And I've made the departure from Ohio.
03:30.698 --> 03:47.998
[SPEAKER_00]: from Illinois, while I was at the time I was signed at the time Scott F was basically saying Louis and I made my way to Beaumont, Texas and I needed housing and I needed housing because I had planned on really stand there for a while.
03:48.383 --> 03:59.053
[SPEAKER_00]: that meaning at mobile chemical, it was the oil and gas business and I felt that that would give me probably the best edge in terms of earnings for my career.
03:59.113 --> 04:16.230
[SPEAKER_00]: And so shortly after arriving there I hired a real estate agent and she took me around to several houses and I took a look at them and then I purchased my very first house and that was really the aspect of me transforming from
04:16.210 --> 04:41.880
[SPEAKER_00]: a consumer to a starting wealth because with that house it really changed the dynamics because it's the first house I ever owned and it also helped prepare me to get my second house years later but it laid the foundation for me so that was really the transformation for me and then I found myself stop consuming because once she purchased a house
04:42.063 --> 04:48.973
[SPEAKER_00]: It's not like on a rent where you have to do the lawn or you have to take care of pairs.
04:49.494 --> 04:51.537
[SPEAKER_00]: But what a house you do have to do that.
04:51.637 --> 04:53.820
[SPEAKER_00]: So, of course, I had to mow the lawn.
04:53.841 --> 05:00.170
[SPEAKER_00]: I have to make any repairs in the house that I purchased and was a very nice house.
05:00.250 --> 05:03.615
[SPEAKER_00]: Not too far from work, so it worked out quite well for me.
05:04.000 --> 05:15.799
[SPEAKER_00]: And but that was my transformation and what about shorts when did you make that transformation or have you made it yet depending on who you are and what you do and what.
05:16.218 --> 05:20.365
[SPEAKER_00]: level that you happen to be in your professional career or as an entrepreneur.
05:20.946 --> 05:33.649
[SPEAKER_00]: But for me, it was, that was the moment that I realized I had to stop consuming because I had to really take things serious, looking at things assurance on the property, and it was near the Gulf Coast.
05:34.411 --> 05:40.842
[SPEAKER_00]: So with that being said, the hurricanes that came in over the years, I think I experienced about five
05:41.243 --> 05:46.891
[SPEAKER_00]: And with damage at one point, the latter give about $10,000 worth of one storm damage.
05:47.371 --> 06:09.141
[SPEAKER_00]: And so at that point, I'm no longer a consumer, but I'm actually investing in the house that I was living in at the time and then you have to take care of course all of your utilities as I mentioned before, you're insurance and then you have to look at any repairs that are being made.
06:09.121 --> 06:14.249
[SPEAKER_00]: That was the moment that I realized and I want you to think about what was the moment for you to.
06:14.269 --> 06:21.300
[SPEAKER_00]: And then the next question is, how did your relationship with money change once you shifted from spending to investing?
06:22.282 --> 06:28.592
[SPEAKER_00]: And from this standpoint, you learn how the mindset directly shapes your financial habits and your outcomes.
06:29.092 --> 06:31.416
[SPEAKER_00]: And for me, mine,
06:32.172 --> 06:47.478
[SPEAKER_00]: relationship with money changed when I shipped it from spending to investing was when I two years later when I was living in that house in Aboma, Texas, I received a call from a kernel from the Pentagon.
06:47.738 --> 06:54.710
[SPEAKER_00]: And he asked me, he said, Paul, he said, we saw your paperwork and we see that you're trying to get into the reserves.
06:54.730 --> 06:56.593
[SPEAKER_00]: How would you like to come back on active duty?
06:57.333 --> 07:01.978
[SPEAKER_00]: because I was a cost-estimated and they were looking for a cost and let's become up and perform some work for them.
07:02.058 --> 07:09.565
[SPEAKER_00]: So I agree, I would left mobile or company and I went back to the United States Air Force in the Pentagon.
07:09.585 --> 07:19.515
[SPEAKER_00]: And as a result of that, that's when I shifted from spending to investing because, again, in many ways, I was starting a whole over.
07:20.236 --> 07:26.682
[SPEAKER_00]: And as a result of starting a whole over, I found myself, okay, so now I have to find a place to live.
07:26.662 --> 07:30.632
[SPEAKER_00]: So I stayed with a friend of mine from college, college class man.
07:30.672 --> 07:35.886
[SPEAKER_00]: He was also at XF4C and left at F4C and started working for the FAA.
07:36.407 --> 07:43.185
[SPEAKER_00]: So I stayed with him and hence why for about 90 days, while I was waiting for my orders to come through to come back on an active duty.
07:43.537 --> 07:48.083
[SPEAKER_00]: And then it was stalled, and so I took a job.
07:48.203 --> 07:53.610
[SPEAKER_00]: And I sold cell phones for GTE mobile communications in Alexandria, Virginia.
07:54.070 --> 07:56.614
[SPEAKER_00]: And what that experience taught me was sales.
07:57.415 --> 07:59.958
[SPEAKER_00]: And I would sell cell phones up above services.
08:00.018 --> 08:04.043
[SPEAKER_00]: And the next thing you know, I was selling phones and service to the,
08:04.023 --> 08:10.250
[SPEAKER_00]: That time the Washington Redskins and addition to the Washington Bullets who are now the Washington Wizards.
08:10.330 --> 08:26.049
[SPEAKER_00]: So I met athletes from there some from a home state of North Carolina and it was another experience and as I was waiting I was kind of getting into the social life a little bit more because I was just waiting to find out when when I come back on duty.
08:26.650 --> 08:30.975
[SPEAKER_00]: Because I came back to the Washington area on New Years of 1989.
08:31.563 --> 08:36.426
[SPEAKER_00]: And it wasn't until June of 1990 that I came back on active duties.
08:37.132 --> 08:40.497
[SPEAKER_00]: And when I came back, of course, I had to find somewhere to stay.
08:40.877 --> 08:49.650
[SPEAKER_00]: So I left my college classmates house and I ended up getting apartment not too far from joint base andries.
08:50.171 --> 08:51.072
[SPEAKER_00]: And I stayed there.
08:51.092 --> 09:03.831
[SPEAKER_00]: I think for probably a couple of years and then at that point, I started looking for housing closer to the Pentagon because I was still there and I found this townhouse and I
09:04.250 --> 09:05.051
[SPEAKER_00]: purchase it.
09:05.372 --> 09:12.022
[SPEAKER_00]: And then a couple of years later, I saw this sign on this house, which used to be the myor house on this subdivision.
09:12.522 --> 09:16.188
[SPEAKER_00]: And I looked at it, you know, it's phone number for the partner veteran affairs.
09:16.228 --> 09:19.052
[SPEAKER_00]: So apparently a veteran and his wife had been in the house.
09:19.573 --> 09:20.474
[SPEAKER_00]: And they lost it.
09:20.815 --> 09:21.836
[SPEAKER_00]: They lost the property.
09:21.896 --> 09:24.520
[SPEAKER_00]: So I ended up taking there.
09:25.343 --> 09:36.687
[SPEAKER_00]: VA loan and I purchased this house the one in which I live in today and so when you look at what shift at me from spending to investing I still have the house in taxes.
09:36.987 --> 09:43.133
[SPEAKER_00]: And now I have a house in Maryland, so I have two houses, but I'm elicing out the property in Texas that I have left.
09:43.173 --> 09:45.595
[SPEAKER_00]: So that's when the investing start coming in.
09:46.235 --> 09:48.718
[SPEAKER_00]: And basically the tenant was paying for my house.
09:48.878 --> 09:52.961
[SPEAKER_00]: All I had to do was get property management of which I did, and they did a great job.
09:53.822 --> 09:57.986
[SPEAKER_00]: And I at least had a house out, and I had it for about 12 years.
09:59.067 --> 10:02.310
[SPEAKER_00]: And that worked out really great, and I purchased this house.
10:02.330 --> 10:06.994
[SPEAKER_00]: And then years later, at that retired,
10:06.974 --> 10:10.318
[SPEAKER_00]: and for about twice as much as I paid for it.
10:10.879 --> 10:20.091
[SPEAKER_00]: So that was investing aspect where my relationship with money changed once I shifted from spending to investing.
10:20.451 --> 10:27.160
[SPEAKER_00]: So at that point I had a new house, of course, and with a new house I bought the property as it is.
10:27.140 --> 10:39.816
[SPEAKER_00]: So what that meant was that was repairs in the property and have to get in shards and basically have been in this house since 1997.
10:40.522 --> 10:48.196
[SPEAKER_00]: And so as a result, the investing still continues because, again, I'm looking for other properties.
10:48.677 --> 10:55.731
[SPEAKER_00]: So the next question, question number three, is what were the biggest fears of doubts of face doing that transition?
10:56.011 --> 10:58.075
[SPEAKER_00]: And I want you to preface this to yourself.
10:58.556 --> 11:03.846
[SPEAKER_00]: What were your biggest fears of doubts you face doing the transition?
11:03.826 --> 11:13.562
[SPEAKER_00]: and what we're looking for here is the highlight and the emotional and psychological barriers that many faced when shifting from consumer to creator.
11:14.163 --> 11:21.835
[SPEAKER_00]: And so, in my particular case, I ended up in the Pentagon, I stayed there for 12 years,
11:21.815 --> 11:37.512
[SPEAKER_00]: And there was a war and a couple of conflicts that took place, so my mind really shifted away from my personal side, but what to the professional side because of the demands, and of course we know doesn't storm does a shield and then later on we had a 9.11.
11:38.183 --> 11:45.654
[SPEAKER_00]: So when you have these type of things taking place, my personal life kind of took a back seat to what was happened in the greater world.
11:46.275 --> 11:55.628
[SPEAKER_00]: And so when it came to the biggest fears of Dallas, I faced doing that transition, it was more so one of us staying with stability.
11:56.710 --> 12:02.638
[SPEAKER_00]: And by staying with stability as to stay in place, don't move anywhere else.
12:02.618 --> 12:05.241
[SPEAKER_00]: continue to keep your dollars local.
12:05.882 --> 12:11.810
[SPEAKER_00]: And when we look at the war, things heightened, there's more pressure.
12:12.871 --> 12:15.975
[SPEAKER_00]: There's no, I come in at this time, I'll leave at that time.
12:16.356 --> 12:19.199
[SPEAKER_00]: You come in and you may not leave for another day or two.
12:19.820 --> 12:27.630
[SPEAKER_00]: And so I have to pack for that, and I have the gym at the Pentagon, put the Pentagon offices, the athletic club,
12:27.982 --> 12:39.934
[SPEAKER_00]: but you take extra clothing, in case you don't go home, extra uniform, extra undergarments, and of course your toiletries.
12:40.235 --> 12:46.241
[SPEAKER_00]: So when it came down to that, I found myself from a consumer to creator.
12:47.042 --> 12:50.505
[SPEAKER_00]: I just stayed in place and ultimately, I retired.
12:51.206 --> 12:52.167
[SPEAKER_00]: And after I retired,
12:52.568 --> 12:56.635
[SPEAKER_00]: It immediately became an entrepreneur because it's really kind of who I am.
12:56.655 --> 13:15.285
[SPEAKER_00]: And as a result, if I looked at from shifting from consumer to creator, I made that shift from being employed for 22 years and in other states Air Force to become an
13:15.265 --> 13:32.269
[SPEAKER_00]: podcasted hosted a radio show first called the wealthy speaker talk radio show with probably 800 episodes and then I shifted over to the podcast when podcasts became a little bit more mainstream and for me that happened in 2004.
13:32.750 --> 13:39.720
[SPEAKER_00]: In 2024 rather and
13:39.886 --> 14:02.232
[SPEAKER_00]: As a result, I found myself, well actually it was 2020 because that's when we COVID hit and I decided instead of not promoted and marketing my business, I can use that through the podcasts itself and so when it came to fears of doubts really didn't have any because I was kind of condition through the military.
14:02.617 --> 14:04.600
[SPEAKER_00]: four crises situations.
14:05.161 --> 14:14.016
[SPEAKER_00]: So the next question number four, as we've moved and right along, is what habits did you have to let go of to truly start building wealth.
14:14.937 --> 14:22.109
[SPEAKER_00]: And this of course offers some actionable insight into replacing the structure spending patterns with productive habits.
14:22.129 --> 14:27.257
[SPEAKER_00]: Well, one thing that really helped me was the fact that my main
14:27.912 --> 14:37.566
[SPEAKER_00]: I guess you would say responsibility and the military was that of leadership, but my functional specialty was financial management and I retired as a certified financial manager.
14:38.026 --> 14:45.297
[SPEAKER_00]: And as a result of money topics was not really a big issue for me because it's what I had been a part of for so long.
14:45.818 --> 14:53.869
[SPEAKER_00]: And so when we get down to start building wealth, I just shifted from, okay, I will receive
14:54.305 --> 14:59.871
[SPEAKER_00]: and now military retirement paid, and I would shift over to contractors.
14:59.951 --> 15:06.819
[SPEAKER_00]: I did contracting for a couple of years for organization, and right there, still at the Pentagon for two years.
15:07.680 --> 15:14.087
[SPEAKER_00]: And after that, I just decided, I wanted to start becoming a speaker and going out for a time, doing it.
15:14.768 --> 15:24.278
[SPEAKER_00]: And so as a result, the habits that I'll let go was no longer thinking in terms of being employee,
15:24.612 --> 15:27.074
[SPEAKER_00]: a creator and an employee year.
15:27.615 --> 15:40.627
[SPEAKER_00]: And so I found myself putting together contracts of organization and doing like data to 12 city speaking to and I spoke to Fortune 500 companies, federal government organization is not on profits and even more.
15:41.247 --> 15:45.371
[SPEAKER_00]: And so that's when I really started building wealth at that time.
15:46.032 --> 15:52.037
[SPEAKER_00]: So I found myself at that point where I had a coach for speaking,
15:52.625 --> 15:59.777
[SPEAKER_00]: I learned how to write my verifurs book through that coach and then I started training.
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[SPEAKER_00]: I did a lot of diversity training all over the country and then I started doing a lot of media work.
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[SPEAKER_00]: So for me, what I had to let go was just,
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[SPEAKER_00]: letting go of that employee-centered relationship or philosophy and coming more into the entrepreneurship space.
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[SPEAKER_00]: And so what is it for you?
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[SPEAKER_00]: And what helped you to replace the destructive spending patterns?
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[SPEAKER_00]: Because once I became an entrepreneur, there was a lot of investment taking place.
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[SPEAKER_00]: having websites built and I built my first websites myself, writing the book, I self-published my book, I hosted my own radio talk radio show and now podcasts.
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[SPEAKER_00]: And so there were a lot of things that I shifted from thinking that it was an aspect of power and someone else to do and I did it myself.
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[SPEAKER_00]: But I saved in that process,
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[SPEAKER_00]: So the question five is, what financial principles got at you during this turning point?
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[SPEAKER_00]: But of course, for you, this helps educate you on the foundational strategies like budgeting, saving, and compound interest.
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[SPEAKER_00]: So again, the question is, what financial principles got at you during this turning point?
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[SPEAKER_00]: Well, for me, again, I had been in that financial space for years and I'm a certified financial planner.
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[SPEAKER_00]: and also help start.
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[SPEAKER_00]: I also learn how to conduct financial literacy for different organizations.
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[SPEAKER_00]: And as a result, I helped work with the Maryland Legislature, which is the state I reside in, help them to get a bill pass, a Senate Bill 500, and
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[SPEAKER_00]: that help provide an elective for students and every county in the state of Maryland.
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[SPEAKER_00]: But now the requirement is all the students have to complete the financial that is the program before they can actually graduate from high school.
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[SPEAKER_00]: So from that standpoint, I started providing
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[SPEAKER_00]: different financial programs to clients such as coaching, have digital courses, and I do different things to help people.
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[SPEAKER_00]: And of course, this podcast is a great platform, it's a point of that.
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[SPEAKER_00]: And so when it came to investing and saving and all understanding,
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[SPEAKER_00]: what now are called financial intelligence sharing that with people and helping them to understand the importance of being a financial leader and that also helps.
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[SPEAKER_00]: So that was a turning point for me going through the programs
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[SPEAKER_00]: that was headed up by the FDIC, the Federal Deposit Insurance Corporation, they funded and hosted these programs and I went through it and so I received different presentations to deliver to different organizations.
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[SPEAKER_00]: And so that's what's the turning point of what financial principles got it beyond this turning point.
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[SPEAKER_00]: Now, question six is, who influenced a mentor to you during your wealth building journey?
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[SPEAKER_00]: and of course for you, the emphasis is going to be on the importance of community guidance and mentorship in the financial success.
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[SPEAKER_00]: Well, for me, again, I'm more so in that financial space meaning that even when I was on active duty in the military, I helped set up a junior achievement program at a school in Ovalon, Ohio, which is in the
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[SPEAKER_00]: Illinois area, and at this high school, a Fallon High School, I helped set up that programs our top students, how to start a business, and how to make money, and we did that.
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[SPEAKER_00]: We had about 300 students that applied for the program, and we selected 30.
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[SPEAKER_00]: And we split up the 30 people into two groups.
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[SPEAKER_00]: at that school for the very first time.
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[SPEAKER_00]: And we taught them how to start a business and to sell products.
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[SPEAKER_00]: And it was very successful.
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[SPEAKER_00]: So again, I've been in this space a long time.
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[SPEAKER_00]: And also when I was on Capital Hill, I was primarily in that space of obtainance, securing funding for all branches of the service.
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[SPEAKER_00]: And then I went to, after I retired, I went to the
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[SPEAKER_00]: family readiness for the National Guard Bureau and helping families with their finances when they had a loved one who was departed on a deployment in support of Desert Shill and different programs, conflicts such as that.
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[SPEAKER_00]: So, yeah, that is one.
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[SPEAKER_00]: And if you look that mentor
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[SPEAKER_00]: When you really get down to it, I'm self-mentored, but I have really attended a lot of schools at the United States Air Force provided for me, and I have over 40 hours of accounting, so I can actually sit.
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[SPEAKER_00]: for the Certified Professional Accountant CPA certification if I choose to do it.
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[SPEAKER_00]: And so it's all been a part of me.
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[SPEAKER_00]: And I have two masters degrees in business administration.
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[SPEAKER_00]: And a bachelor's degree in business and accounting.
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[SPEAKER_00]: So it's really the feel that I have actually happened to have been in most of my professional career.
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[SPEAKER_00]: OK, question seven, how did your lifestyle and relationship change as you embraced building over?
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[SPEAKER_00]: embrace wealth building over consuming.
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[SPEAKER_00]: Now what this question really takes into account and I'll read it again how it's your lifestyle and relationship change as you embrace wealth building over consuming.
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[SPEAKER_00]: Now for you it shows the broader impact wealth building has on one's life relationships itself work and for me I look at it as being holistic holistic
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[SPEAKER_00]: and finances and my business life and finances and getting them all aligned that the personal finances differ from the business financing.
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[SPEAKER_00]: And when it comes to wealth building, you know, it's investing in real estate is investing in insurance policies is investing in stocks and bonds.
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[SPEAKER_00]: And so when you look at my personal lifestyle, that's the direction
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[SPEAKER_00]: It would be earning revenue, generating revenue, pouring the monies back into the business, investing in myself for coaches and for different programs that would help accelerate my business.
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[SPEAKER_00]: And so from that standpoint, I have both the personal life and the business life that are separate, but yet they're
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[SPEAKER_00]: align and then when it comes down to self-worth is that me, knowing the things that I know, I know if there is a economic crisis, I know how to navigate it one way or the other and continue to flow and define ways to continue to lead my business irrespective of the economy.
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[SPEAKER_00]: You just have to make shifts and I'm wholly aware of that and I hope that you are as well.
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[SPEAKER_00]: So let's get to the last question now and the last question is what advice would you give to someone ready to make their own turning point to that?
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[SPEAKER_00]: And not only this question is for me, but it's for you too, whether you're a mentoring youth in the community or your own child or family members.
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[SPEAKER_00]: Someone at your house of worship.
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[SPEAKER_00]: I could be at a non-profit that you work with, but the question again is, what advice would you give to someone ready to make their home turning point today?
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[SPEAKER_00]: And what this does is it inspires immediate action and give listeners a starting point for transformation.
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[SPEAKER_00]: And so my advice to everyone is this, and it's one that you should hold, Dilly is that,
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[SPEAKER_00]: we know that money is more of a resource and the more money that we have, the more we can do, we can help people.
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[SPEAKER_00]: Oftentimes when it comes to wealth, sometimes it's not monetary, but it's as a community leader, or it is as a mentor to youth, or it is to an organization, a community-based
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[SPEAKER_00]: So wealth is more than just money as I will monitor for this podcast state, but when it comes to the starting point today what I would tell someone is that it's very important to really understand money and your relationship with money and then once you understand your relationship with money,
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[SPEAKER_00]: you're quickly understand that money wants you to multiply it.
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[SPEAKER_00]: So you want to start learning how to have an abundance money set where money comes and flows to you easily.
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[SPEAKER_00]: And you don't have a scarcity mindset.
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[SPEAKER_00]: Well, you said, well, I'd like to do this, but I can't do it because I just don't have the money, but you can come up with ideas and ways of sourcing money to help you invest in yourself and are your business.
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[SPEAKER_00]: understand what your personal relationship is with money and continue to develop it over time and I believe that
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[SPEAKER_00]: Anyone is capable of doing it and I'll share this quick story with you as I'm wrapping this up.
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[SPEAKER_00]: There was a lady in Mississippi and she washed clothes for college students at a campus, I think it's southern Mississippi.
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[SPEAKER_00]: And she never put up money in the back and then finally she has so much money in her mattress.
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[SPEAKER_00]: that a bank has said, hey, you should put that money in the bank.
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[SPEAKER_00]: So you don't lose it or someone was still at all.
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[SPEAKER_00]: If you have a fire and your house is something like that.
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[SPEAKER_00]: So she believed and him and trusted him as she provided money in the bank.
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[SPEAKER_00]: And over the years, as she had never finished school, she I think she stopped school and maybe they'd fifth for sixth grade, she had over $300,000.
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[SPEAKER_00]: And since she never got married and have any children, she just decided to make it a source to help students under privileged students with scholarships to attend college.
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[SPEAKER_00]: And not only does she do that, but the alumni at the university.
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[SPEAKER_00]: decided to double that investment and it ended up with $600,000 and to this day, I think her name is Mrs. McCarthy.
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[SPEAKER_00]: And she to this day, those scholars, she's passed away, but those scholarships continue to go to students to this day and it's all because of her relationship with money.
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[SPEAKER_00]: She when she was growing up her parents had passed away since she stayed with her aunt
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[SPEAKER_00]: And so she'd never had to pay for her housing because she lived in their house.
27:20.934 --> 27:23.657
[SPEAKER_00]: She'd never had a new TV she used to one that they had.
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[SPEAKER_00]: She didn't drive so she had a shopping cart and she would take her food at the shopping cart and then take a food home and then return to cart.
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[SPEAKER_00]: But the more of the story is there is a way, will, there's a way.
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[SPEAKER_00]: And that's what I say to people today
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[SPEAKER_00]: You have to have and know what your personal relationship is with money and the sooner you understand what it is, the further long you will get.
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[SPEAKER_00]: So in close and I hope you really enjoy this particular episode.
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[SPEAKER_00]: I enjoyed sharing it with you.
27:59.747 --> 28:18.537
[SPEAKER_00]: I was kind of chilling today, really just putting this information out there, mostly for you to understand it and pose in these questions to you and yet answering them personally for myself to stimulate from thought and some consideration from yourself.
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[SPEAKER_00]: And so, in closing, every wealth builder reaches across roads.
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[SPEAKER_00]: And it's a moment that defines whether you'll continue consuming what others create, or begin crafting your own path to financial independence, whether you're going to start a business or just become an investor or whatever it may be.
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[SPEAKER_00]: Because you can join, of course, investment clubs.
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[SPEAKER_00]: And the turning point isn't about perfection, it's about progress.
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[SPEAKER_00]: And we want to be better today than we work yesterday.
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[SPEAKER_00]: And remember, when you start building, you start believing in yourself again.
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[SPEAKER_00]: And that belief compounds faster than any stock bond are crypto, ever could.
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[SPEAKER_00]: Now, as always, I always have a call to action.
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[SPEAKER_00]: And what I'm going to share about the call of action today is this, if this episode spoke to you, share it with someone who's ready to make their own turning point towards financial freedom.
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[SPEAKER_00]: Subscribe to Well for Academy podcast,
29:16.904 --> 29:21.447
[SPEAKER_00]: on your favorite platform and I recommend that you leave a review.
29:22.253 --> 29:45.513
[SPEAKER_00]: at Apple Podcasts and just simply go to Apple Podcasts and look for welfare category podcasts and you'll find me there and leave a review when a five-star rating and then join our Facebook community lead yourself to wealth which is a private Facebook group and let's build wealth together one decision at a time.
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[SPEAKER_00]: And thank you so much for your time today for listening
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[SPEAKER_00]: and your colleagues.
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[SPEAKER_00]: And I really appreciate it.
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[SPEAKER_00]: And thank you so much.
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[SPEAKER_00]: And I'll see you on the next episode of Wealth Academy podcast.
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[SPEAKER_00]: Again, I'm your host Paul Lawrenceman.
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[SPEAKER_00]: Enjoy your day.
