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Transcription
The transcript is about the importance of financial literacy and making intentional choices with money. It emphasizes the need to reconsider spending habits and investment strategies to build wealth and secure a comfortable retirement. It also highlights the negative impact of financial secrecy and encourages questioning traditional financial advice. The transcript suggests seeking knowledge and resources, such as the Sweet Leaner Formula courses and Investopedia, to make informed financial decisions. It concludes by emphasizing the importance of financial literacy in relationships and future generations. Welcome back guys to another episode of Sweet Leaner Formula! I have to say kudos to you guys for all of your comments, your likes, your subscribes, everything that you are going off in the comments. I love it. I love that the conversation has even started. I love that as women, men, that we have the capacity in today's age to be able to say, you know what, I do need to reconsider what I'm spending my money on. I do need to reconsider what it is that I'm pouring my time and my energy and my effort into. Because you know what, what you do, what you reap, what you sow, you will reap. And you cannot play the hustle. You know, most people think that they can play the hustle. You can't play the hustle. It won't give you what you didn't earn, okay? So you have to make sure that the energy that you're putting into your finances and your generational wealth, that it's intentional. I love that you guys are speaking up. I love that you guys are leaving comments. And I love that you have this new momentum in your finances, in your relationships, in your household. And you're talking about these new things now. You're talking about stock options because you took in the Sweet Leaner Formula investing course. You took our municipal bonds course. You know what you're talking about now. You know what the pictures look like. You have been to Investopedia. I would highly suggest that you guys, I am having a ball on Investopedia, okay? I invested in Tesla. I invested in Apple. I invested in Nike. I invested in Kat. I have a little bit under $70,000. The thing about Investopedia.com that you guys subscribe to Investopedia. It is worth it, guys. I'm telling you right now. You get the chance to live have an actual stock screen where you have $100,000 to invest, guys. And it's so worth it because once you take your Sweet Leaner Formula course on investing in stocks, you will be able to use that course along with a few others, a few other e-books, a few other master classes. We suggest you just continue to absorb the knowledge here at Sweet Leaner Formula because we're a community of wealth builders and nothing is off limits when you're trying to build wealth and you're trying to find out where should I go, how should I invest, what does the long term look like, what does my retirement look like, are my 401Ks full of fees, is it tax deferred, what is it that I'm going to have to pay once I get 75, 85 ready to deduct and live off of my 401Ks, what has that really been built up, how has the last 50 years of my life been built up? We have seen plenty of people between social media and different scenarios where they've been working at the Ford plant or they've been working at the General Electric and they find out they don't have any pensions after 30 years. So how is it that they could possibly retire? They cannot retire. These people are in their 50, 55, they've been working since 28 years old, 35 plus years and they don't have any pension, any SSI to look forward to. So that means that they have to keep working. That is just like ding, ding, ding. Do you want to be a person who is 65, 75 years old? You look up, you have been, you expect it. The problem is you expect that your company to really be investing all of these for match percentages into your 401K. Yeah, right. Yeah, right. When you take our investing courses, you will find out that there is an amount of up to 10% and probably 3 to 4%, but that's per fee, per company. The products that you are being sold by your financial advisor are for the benefit of their company, guys. Yeah, they are not, unless they are a fiduciary, independent financial advisor, they are in it for their company, not for you to have your money when you retire. They are looking to suck up your money. I suggest you guys read the book, Money, Math is a Game. I am dropping gems today, okay? Yes, guys, I'm fired up, okay? One of the things that came up to me as you guys were leaving comments is that there is still a problem with living in financial secrecy, okay? When you live in financial secrecy, I'm going to list just a couple of things that those things affect, living in financial secrecy. Well, what is living in financial secrecy? Living in financial secrecy is you are never discussing with yourself. You never having a plan for your finances. You never looking into what your 401K fees are. You live in having a 19% interest rate on that vehicle that you are leasing. You paying a substantial amount of insurance because your credit score is low. You not being able to afford yourself the life to invest into your life insurance policy. How is it that a life insurance policy of $500,000 is only $241, but you are paying $350 in car insurance that you barely use? How does that work? Let's be real. How is it that you cannot afford a $500,000 policy, which in five years, three years, eight years, you can take living benefits of $100,000 plus a equity loan from your life insurance policy. You can take an equity loan from your life insurance policy and start a business, have the capital. You don't need no bank if you have life insurance. Be your own bank. But this is the thing. You're listening to Sweetener formula and you're gaining this knowledge, and I'm glad that you're here. But I need you to make changes accordingly. You cannot spend your life, the next 17, 12 years, working for somewhere to pay a $600 car note and a $350 of insurance. You just cannot do that. It's just not going to work. So what I need you to do is restructure your mindset, restructure your ability to have capacity to spend a year or two years taking the Metro and you can save close to $7,000 to $8,000 per year. You are likely to save $7,000 to $8,000 per year by not driving a car, not paying Geico, State Farm. All those companies are stock companies. You can be investing in index funds with those companies instead of you spending your money actually paying them billions of dollars of money. You can spend that money investing to an index fund of $5,000. Put $5,000 into an index fund, an S&P 500, and watch how your retirement is having millions of dollars in the next 25 years, in the next 35 years. You have the option to, like I said, have a $500,000 policy. Your children could have a $250,000 policy, $300,000 policy, for less than $100 a month. If you decide to become definite and intentional and use the strategies from your Sweetener and formulas investments, those courses that you're taking, we're not just taking courses, and we're not just forming courses because it looks good. There is a need for people to have financial literacy, and they need to know what it looks like. What does a stock screen look like? Our e-books are filled with information that show you what the stock screen looks like, that break down the definitions of what these terms mean, so that you don't have to be afraid of them. When you look at your 401K and you look at the amount of fees that you're paying, you're paying miscellaneous fees, a holding fee. You're paying a financial fee. You're paying a backdoor fee. You're paying a he wrote this, he signed this for you fee. You're paying up to 7% in fees. So if you're supposed to be, if they're supposed to be matching you 4%, you're already in a negative 3%. Okay? So what I want you to start to do is to question everything, believe nothing, question everything, so that you can make the changes in your life that are going to be in sync with you having the funds that you need to benefit from living now in abundance instead of dying in poverty. Okay? We are not doing that. This is the season of our lives. And so when I mean living in financial secrecy, those are some of the things that hinder you, okay, from you living in financial literacy. It affects your decision making. It affects your finances. You have no growth in your bank account. It affects the relationships and who you're sleeping with, who you're willing to, if your confidence is low because your money is low, because you don't have financial literacy, you are going to settle for somebody who is just as illiterate as you, and you guys wondering why you don't have joy, peace, sunshine, and prosperity into your relationships because that's what y'all avoiding. Y'all avoiding y'all money. Stop the fire. Y'all avoiding becoming financial literate. And that's a problem because in the long term, if you're going to have children with this person, if you're going to lay down and be so willing to have a child with another person who is deemed financially illiterate, then you're only creating a deaf child because what you're going to do is you're going to allow that child to become 18 years old and you're going to allow them to push them right into the ocean and spend for themselves with no life jacket on. At least when they turn 18 years old, give them a deck to walk on, a yacht to stand on, a life jacket to have, and if they want to start to invest in stocks, they'll be more likely to survive the world. This world is just not like a easy world, especially when you're financially illiterate. When you're financially illiterate, then you're more likely to take out credit cards by 18 years old in college that have 26 APR rates when you're supposed to be financially literate and you're supposed to have, your peers are supposed to add you to their credit as an authorized user when you turn one years old. You're also already supposed to have 18 years of credit history, and I think that that's a problem is that when you question everything, you're more likely to start to make decisions that open up the loopholes, the falsehood, the propaganda that you're being sold. They're telling you to invest your money into Chase, but what you need to be doing is not investing your money into Chase, but you need to be investing your money into an individual retirement account, an IRA, an educational fund that is high yield, that is going to give you a return on your money versus a 0.01%. We've already talked about this. This is not where you want to put your money. No Wells Fargo savings account, no Chase, no Bank of America. These institutes are using you as a pawn in their billion-dollar scheme. Wells Fargo paid $526 million out to different individuals because they had their identity stolen and they were making new accounts from their information, and Wells Fargo just took that as a laugh because they're just like, $526 billion, we make that yearly. So the money that you think you're having a checking account, what you're having is, this is what I realized the other day too, is that even though they used to do paper checks and you have to go to the Ace cash or check or wherever it is that you would have to cash or check if they didn't have banks, those same fees are being charged to you $7.99 a month to have a checking account. And then on top of overdraft fees, banks are generating billions of dollars in overdraft fees from their customers and their consumers. With these products that they're selling, you need to question everything. Go back and look at your financial statements and find out in 20 years, how much would the money that you have in that savings account, how much is it going to yield? You need to sit down with a branch manager, a branch general manager, and you need to schedule an appointment on what it is that that bank is really offering you and what it is that you need to start to invest in, high yield savings accounts, credit unions, IRAs, stocks, municipal bonds, CDs. All of these things are the alternatives and where your money should be growing. When you make an investment into an asset, your money is going to compound. You're going to get compounded interest over the long term because that money is sitting in these places that is active in the stock market, that is active and be making compounded interest versus you putting your money into a bank. That is illiterate and we don't condone that here. So guys, I definitely want to make sure that you have the tools that you need. So definitely subscribe to SweetMillionaireFormula.com. SweetMillionaireFormula.com. We have courses on credit recovery, home buying, real estate. You want to invest into your first property? Go to our website right now and find out courses that are going to be tailored to your needs. Digital literacy, you don't know how to make a website. You think just having a Shopify is profitable, but your website can be having ad clips that are paid from Amazon, ad clips that are paid from Google. When you have an actual website, you're more profitable to your community. You're more looked at as a staple and a leader of your genre and your niche versus you just having a Shopify. Nothing wrong would happen in Shopify, but you need to make sure that you understand how to run a website, how to have an intellectual property that benefits and yields generational wealth, how to write books. We have these courses available at SweetMillionaireFormula.com, guys. Go to our page today to find courses that are going to be tailored towards your needs, okay? The last thing that I wanted to talk about was the emotional imbalance that comes from living in financial secrecy, okay? So you have people that are willing to – that are not even willing to. I wouldn't even say that they're willing to, but they've been living in – great-grandma ain't never talked about finances. Great-grandma been cooking, raising them kids, and trying to get by, while your grandmother – if your grandmother was anything like my grandmother, RIP to Ms. Linda Loper. But if your grandmother was like my grandmother, my grandmother was shrugging on crack when I was being raised by my great-grandmother. And my great-grandmother – well, my grandmother had my mother at 16 years old, so you can only imagine the dynamic in which I was raised in. My mother was in jail, sitting in jail, and my great-grandmother was raising me. So that's two generations – actually, my grandmother did go to jail, actually. But two generations of my life – three generations of my life that sparked my life is my great-grandmother, my grandmother, and my mother. Two of those generations are sitting in prison while I'm growing up. I'm 10, 11, 12. I'm becoming a teenager, and I'm 13 years old. I'm just figuring out – I'm joining the marching band, and we're going to different states and traveling. I went to Alabama State one year for the Turkey Day Classic. And when we got to Alabama, when I say mink coats, RVs, I had never seen black wealth on this capacity in my life. So at 13 and 14 years old, seeing things like that and then going back to the childhood, it just – I question, like, why didn't we have the same wealth as everybody else? And that's why I'm so passionate and created this company, Sweet Millionaire Formula, because there has to be a time where you get fed up with not having the abundance, not having the resources. And instead of begging, waiting, having your hand out for the world to hand you something, you know what you do? You stand up and you create what you want to see, okay? So guys, yeah, the emotional imbalance that comes with living in financial secrecy is actually turmoil, depression, sadness, and it causes families to fall apart in the long run, because nobody wants to continue to be in a family that is not generating generational wealth, that is not having the finances, the businesses, the books, the intellectual properties that are being passed down that makes it easier on the next generation. So you want to make sure that you establish yourself in your niche, in your passion right now, and you want to make sure that you are creating avenues for your children to breathe in. You don't want to suffocate your children by having them grow up and having to start their identity and financial literacy as they're turning 18, because we know that there's a volatile moment for them to lose their way and to become systems of drug abuse, of alcohol abuse. This is financially related, and it's all coming from stemming back from slavery, but we are in a day and age where you're one click away. SweetMillionaireFormula.com has one-click-away courses where you can learn and take the sting and the scariness out of what your finances are supposed to look like, and you become financially whipped and equipped with these resources that allow you to start to dedicate and allocate money towards your portfolio. So guys, that's going to be today's episode. I highly suggest you guys go to SweetMillionaireFormula.com to get your courses and start to invest in yourself, because you're going to be much more worth it in the long run, okay? Leave your comments under our page. Guys, continue to support and reach out to SweetMillionaireFormula. If you have any inquiries or you want to book SweetMillionaireFormula for workshops, go to our website, SweetMillionaireFormula.com. All right, guys, have a great day.
