Its Not What It Looks Like

The speaker reflects on their journey from poverty to success and the importance of breaking the generational curse of poverty. They discuss the systemic racism and discrimination faced by black people and the need for individuals to take control of their own success and wealth. The speaker also addresses the wealth gap between different generations, emphasizing the importance of real estate ownership and investing for building generational wealth. They encourage individuals to take charge of their financial future and become financial institutions for their families. How you guys doing? Welcome back to another episode of 3 Millionaire Formula. How you guys doing today? So I wanted to just thank you guys for tuning in. I am super excited about today's episode because I think one of the things that stood out to me or would have prompted me to talk about this episode is the fact that even my child to this day was just like, Mommy, we broke the generational curse of our lives. And she's like, I cannot wait to continue your legacy of generational wealth. And that kind of brought me to tears because I remember vividly like at least 12 years ago when I was going to Howard University and I was just a single teenager, 19, 20 years old, just kind of roaming the city, didn't even know how to navigate the city and navigate. I think it's important to know and to have mentors and to have leadership in your family that knows the ropes and knows the ins and outs of what wealth looks like. And I think that for families that come from poverty, like such as my family, born and raised in a project, my grandmother raised in a project, my great-grandmother raised in a project, everybody's raised in a project. So that's like four or five generations of children and women and men raised in a project. And we know that the system is basically waiting for our downfall. They're waiting for us to be working at the McDonald's, having the kids, being on Section 8, get in prison, kill each other, fights and stabbings and all this other stuff. And then for the men in particular, there is this prison pipeline system where if they can't reach this certain level by third or fourth grade, then they can determine that these statistics are going to prove that these teen boys or kids are going to be teenage juveniles in the prison system and return to the prison system again as adults and again as many times in their lives they're going to be in prison at least up to three times with a maximum of 15 to 20 years. So it's like there is a system of, how can I describe it? There's a system of racism and discrimination against black people. And I feel like for my daughter to see me build this company, see me in a formula from the depth of my dreams and my plans because it started as me writing books. It started as me dreaming like, oh, hey, I want to have this business. And then I ended up opening up my mobile nail salon, which became very successful. And so what I've shown her over the course of her life is that you have to be your own success. You have to be your own wealth. You cannot expect, because my mom worked at Wendy's or because my mom worked at McDonald's, that we're going to be able to have this money to do this, this, and that. And she would be so upset. We all had to find ways, like bike riding and let's go to the park, let's find a festival and things like that. I had to do things that were free all of the time because when I worked at minimum wage jobs, there was no way that I could even think about affording to take her out of town or take her on luxury trips, take her on a carnival, view this country, that country, because I had – that wasn't even in my plans. I never thought about or never even looked up lights to go out of the country because I knew with this salary I cannot make dreams and aspirations and tell my daughter lies that we'll be successful. But it's just so amazing that eight years later she's seeing me run this business on a high level, booking high-end clientele, getting paid $5,000 to $6,000 to speak, another $3,000 in for them purchasing my book. And I believe that that is the difference between you saying that you're going to be successful and then you putting the actions behind it. Even though it took me close to 12 to 14 years to reach this level, I, for the life of me, knew that this is where I would be in life and this is what I wanted to do, but I didn't know how it would come to fruition. And I thought that paying people to build my brand, I thought paying people to show me how to do this would get me to that level when it's like you will feel all this morale and motivation once they're there. And then when you have to go home without being in their presence and you have to do the work, there was this lack of morale. And I feel like – I was like, dang, if I just had a platform or if I just had a community where I could build and where I could be a part of building generation wealth, I think I would be more successful. And so while I've seen – after the pandemic, I've seen hundreds of people in different places because it seems like on social media it seems like everybody's doing it, but when you dissect it and see that it's maybe two or three people from this state, two or three people from that state, this state, this state, and you really see like, okay, so there is a room and there is a lane for me to create this community, that's what I was looking at. I was looking like, okay, now that I'm in the DMV area, how can I maximize on being here and how can I continue to raise my wealth and my value to whatever setting that I am? How can I be an asset versus a liability? Because I think it's one thing to go up to a room and say, can you be my mentor? Can you help me? And you're not bringing anything to the table, but it's the same when you're bringing a number one voted podcast, you're bringing a top producing website, you're bringing your own IPs, your own copyrights, your own trademarks to the table, and then you're asking for navigation. I think that that's what separates people from being winners and then being basic is because the bar can be set so low because you think like, oh, I did this or I did that, and that determines who you are, but you have to look at your success from your last accomplishment. If your last accomplishment was five years ago, then you still need to be working and making a legacy for yourself. You cannot depend on your last accomplishment. You have to continue to set the bar, raise the bar, increase the bar, and get around people in rooms that continuously raise the bar so that you don't settle for what you thought was great, and then you get into other rooms and just realize, oh, that's just a floor level. So I think that it's always a constant nag, and it's a constant, especially when you don't have generational wealth. That's why this sweet leader formula is so important is because it raises the bar. It constantly has you to pay attention to your wealth. It has to constantly have you pay attention to what you're building, what you're investing in, what's your budget looking like, what is it that you're basically aiming for when you say that you're going to be generational wealth and you're going to have generational wealth. What does that look like? And I wanted to give you guys a little article. It says, in 2021, the average network in American households between ages 64 and 75 reached over 1.2 million, while the average household under 35 has a network of just 76,000. With these massive generational wealth gaps, self decided to dig deeper into the historical wealth distribution of different generations to understand why the wealth gap has been so vast. Okay? So these are some fact findings. The average 64 to 75-year-old American is 94 percent wealthier than a 35-year-old. Today's 40-year-olds own half of the wealth of older generations when they are the same age. Baby boomers own 33 percent more real estate than Generation X at the same age. Baby boomers are collectively 10 times wealthier than millennials. Millennials are 24 percent behind Generation X in terms of generational wealth. Okay? So it's basically giving us the breakdown of how the silent generation, baby boomers, Generation X, and millennials are weighing up in generational wealth compared to 60, 70-year-olds, compared to 25-year-olds, compared to 35-year-olds. And so basically there's a vast majority of the country's wealth that belongs to the older generations and the baby boomer generation because they own 52 percent of the country's wealth, while a silent generation owns 15.2 percent. Generation X, age 41 to 56, owns 27 percent of the overall country's wealth, while millennials ages 25 to 40 only own and possess 5 percent of the country's total wealth. Hence, a group of baby boomers are more than 10 times more wealthy than millennials. So I believe that they're basically saying that baby boomers' generation is 10 times more wealthy than the millennials of this time. And then it says who owns the real estate? 44 percent of baby boomers own real estate. 31 percent of Generation X, 11 percent for millennials, and 13 percent for the silent generation. So there's basically just a graph showing you guys that baby boomers, they know to own real estate and they're home owners. And I think when you think of generational wealth and why they own 55 percent, which is 10 times more than the Generation X and silent generation is because when they had their jobs, they bought houses. When they bought their houses, they were able to send their kids to college. When they were able to send their kids to college, they produced much more successful children, much more successful wealth in their household, and much more successful, how can you say, investments. And knowing that real estate is important, knowing that investing is important, and I think that for our generation, we want to live so fast and we want to live so flashy that you're avoiding the whole just of what it is to really be wealthy, and that's to establish real estate, to establish your investing tools, to have assets, to have a portfolio, and to develop yourself to being a financial institution for your family. I think we take away our power when we give everybody else a decision to decide how will we become financially free. But when you decide, oh, I can create my own IPs, I can write my own e-books, I can write my own workshop programs that are going to be presented for financial companies, for media companies, for the generation, the silent generation and the Generation X that we are looking at that don't know financial literacy, that can't imagine themselves being 64, 74, and having $1.2 million in wealth, that's what Sweet Millionaire Formula does, is we're changing the narrative and we're giving the generation and the silent generation and Generation X their generational power back to be able to be financially literate and understand that investing in real estate right now is the difference of you having the $1.2 million wealth versus the $76,000 wealth that you cannot really double or you cannot increase $76,000. But if you invest in real estate, if you invest in stocks, if you have your IRA in place now, then those compounded interest over the next 40 years is the difference between you being wealthy in your 60s and 70s versus impoverished and waiting on Social Security and living with your family members and going and living in the local homeless shelters. That's the difference. I think that the understanding and having knowledge of what a baby boomer's generational wealth looks like versus what a Generation X generation's wealth looks like, I think that's the difference and that's what Sweet Millionaire Formula does is we give you guys the tools, we give you the classes, we give you the e-books, we give you the step-by-step guides that show you how to invest in stocks, that show you how we're not afraid to say that generational wealth is going to be ours because we know how our credit effects are, our decisions to be able to buy cars. We know we don't want an 18% APR. We know we want a 2% or a 1% or no percent APR. We know that we can lease cars instead of having to buy cars. We know that if we save money, a $600 a month car note for the next five or six years, that we'll be able to put $50,000 down to buy a half a million dollar house. Understanding the logistics of generational wealth is the difference between you ignoring 40, 50 years of building wealth and you investing in your wealth now, and so 40 and 50 years, your splice of the pie looks like 1.2 million. It looks like it's comfortable. So for today's episode, guys, I definitely want you guys to leave your economists and your opinions on our private group chat. If you haven't joined Sweet Millionaire Formula's private group chat or our community, I highly suggest because we go over and we have so much amazing recognition, community building and seminars and conferences and retreats that you guys can look forward to, and I think when you're part of the community, it makes your experience with Sweet Millionaire Formula that much more personal. So leave your comments today. That's what we're going to discuss for today's episode, guys. Thank you guys for tuning in so much.