August 9, 2024 • 38 mins
Today on Financial Fridays with Tony K, he is joined by Dawnette Palmore Expert Money Coach & Owner/Founder of Your Money On Purpose Coaching. Your Money On Purpose Coaching™ is a financial mentorship & Coaching entity on a mission to craft a world where individuals break free from their financial constraints. Follow Dawnette on IG @yourmoneyonpurpose or visit the website at www.yourmoneyonpurpose.com for more info on how to get your money right! Cannabis Talk 101, “The World’s #1 Source For Everything Cannabis”, made global history by becoming the first cannabis show to partner with iHeartMedia, on 4/20/2020. Thank you for listening & watching Cannabis Talk 101 with Christopher Wright, aka "Blue" the CEO and creator of Cannabis Talk 101 and the Cannabis Talk Network. & Joe Grande, former Co-Host on Big Boy’s Neighborhood on Power 106 FM, On-Air with Ryan Seacrest on 102.7 KIIS FM in Los Angeles and The Dog House in the Bay Area on WILD 94.9 KYLD. FOX SPORTS, NBC SPORTS. Financial Fridays with Tony Kassaei, The Inside Investor, 40 TONS TALK, WITH ANTHONY SLIMBURG, CHRONIC HISTORY WITH HISTORY CONNOR V. Toking with the Stars with Chuckie & Marty, & on YouTube, IHeartRadio App, Spotify, & Apple Podcasts.
Check out the Cannabis Talk Magazine (HERE).
Call us anytime: 1-800-420-1980
FOLLOW US on all Social Media:
Linkedin: @CannabisTalk101
Instagram: @CannabisTalk101
Tik Tok @CannabisTalk101:
Facebook: / CannabisTalk101
Twitter: / CannabisTalk101
@BLUE
@JoeGrande
@Tony Kassaei The Insider Investor
@40TONSBRAND
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
After twenty two years of being a Titan on Wall
Street and starting his own firm, Tony Kasai get is
walking away.
Speaker 2 (00:07):
What just said?
Speaker 3 (00:08):
The ugly side.
Speaker 1 (00:09):
Hooking and only Inside We'll interview insiders and other titans
of all types of industry, offering advice and sharing stories
of it. First, this is another episode the Inside Show.
Speaker 3 (00:22):
Welcome to Cannabis Talk one on one's Financial Fridays with
the Inside Investor Tony K. We're the world's number one
source for everything cannabis.
Speaker 4 (00:31):
The information provided by Financial Friday and Tony Kasai is
for general information entertainment purposes only and should not be
considered as professional financial advice. Consult with the professional for
making any financial decisions. YO.
Speaker 1 (00:45):
I don't know where you are, what you're doing, or
what day of the week it is for you, But
over here the CT one on one iHeart studios, ladies
and gentlemen, it is Financial Fridays for us.
Speaker 2 (00:54):
I'm Tony K.
Speaker 1 (00:54):
You're Inside Investor, and now I'm here to get your
mind right and your money game type. You're hearing me
on the world famous CT one on one, heard in
all over the world in one hundred and eighty three countries, guys,
feel free to leave me a financial question anytime at
one eight hundred four twenty nineteen eighty. You can always
find me on Instagram at the Insider Investor. Please make
sure to follow the show on YouTube. Guys, Cannabis Talk
(01:15):
one on one, make sure you follow show us some love.
Keep subscribing.
Speaker 2 (01:19):
Now, you guys know why I created Financial Fridays.
Speaker 1 (01:21):
Right because after twenty years of being a Wall Street insider,
I got sick and tired of watching the little guy
get screwed over.
Speaker 2 (01:27):
And of course you know what I want to do now.
Speaker 1 (01:28):
I want to empower you guys by giving you access
to what's been in my head for over twenty years.
And more importantly, I want to bring on with my
special friends to share their wisdom of empowerment, the markets
and just life in general.
Speaker 2 (01:40):
Guys.
Speaker 1 (01:40):
And of course, one of the biggest secrets empowers that
I've discovered over the years was that your money is
always going to be hit with taxes, right, And it's
not how much money you make, it's how much money
you keep. And the biggest misconception out there is that
taxes need to be in April problem you know, or
October if you own a corporation. But the reality is
most people understand is you got to not just have
a CPA attax from the deals with your stuff on
(02:02):
a monthly or an annual basis.
Speaker 2 (02:04):
You need to consider your taxes on a monthly basis.
Speaker 1 (02:07):
That's why I love my friends over at Easier Accounting
dot com. Easier Accounting they got a brick and mortar
location out in Utah, so they're not outsourcing anything.
Speaker 2 (02:14):
It's a massive entity.
Speaker 1 (02:15):
They've been around forever and they also have a special
carved out section just for the cannabis community. More importantly,
they deal with entrepreneurs LLC setup formation. They handle cash
flow projections Easier Accounting. It's in their name, guys. Easy
to find them and if you want to give them
a call eight eight eight six twenty zero seven seven zero.
Now you guys, I've been talking about a lot of stuff.
(02:38):
Sometimes people are like, man, I thought your show was
financial Fridays, not politics Fridays. What you don't understand is
that it's all tied together, right, as Tony Montana said,
First you get the money, then you get the power,
then you get the ladies. But I do want to
kind of go back to the core roots of financial Fridays.
Speaker 2 (02:55):
I just don't want to make it boring.
Speaker 1 (02:57):
So I want to try to bring on guests and
speakers and on entrepreneurs like my friend Donne Palmore. Now,
you guys, before I introduce her officially, you guys got
to understand that she's an expert money coach, owner and
founder of your Money on Purpose Coaching. She's also got
a little side hustled that's becoming pretty big. In fact,
that's how we met, which is called White Oak Craft Barbecue.
As you guys know, I don't bring on any financial advisors,
(03:19):
anybody kind of affiliated with Wall Street because as much
shit as I talk on Wall Street, but more importantly,
I just think that there's enough of that noise out there.
Speaker 2 (03:27):
I like to people.
Speaker 1 (03:28):
I like to bring on guests that are thinking a
little bit more outside the box when they're asking you
to teach you and coach you on money. So it's
my pleasure to bring on miss Donnette Palmore.
Speaker 5 (03:38):
Awesome, thank you so much, awesome to be here.
Speaker 1 (03:42):
As you can tell, we have a pack studio audience
minus one hundred. No, you know, this was an impromptu
show today. We were originally trying to do a content show.
But as luck would have it, we're actually going to
be at the same event tomorrow. I am seeing that
your White Oak business is yes.
Speaker 5 (04:00):
We'll be catering it and I'll actually be speaking there
as well.
Speaker 1 (04:03):
Oh no, kidding, excellent, Well, this is turning out to
be a lot more in common than we thought. And honestly, guys,
true story, because I don't bullshit you guys, is today
she was in here meeting with Taylor and Gemma, who
you guys know from the Taylor Armstrong Show. They shoot
their show here in the studio as well, and obviously
any friend of theirs is a friend of ours. So
I knew you're gonna be at the event tomorrow and
(04:23):
I wanted to kind of help promote your side hustle.
But once we started talking about your bio, turns out
you got this expert coaching and first question I asked
you is, well, what's your credentials?
Speaker 2 (04:32):
What do you do? And you said, well, shit, I
actually did business.
Speaker 1 (04:34):
I've had multiple businesses, we own multiple different verticals, et cetera.
So well, that's the topic, guests, that I want to
bring up. So welcome to Michelle.
Speaker 5 (04:41):
Thank you, I appreciate it.
Speaker 1 (04:43):
Yeah, So tell me about your journey of entrepreneurship. How'd
you get to where you're at and what are you
doing now?
Speaker 5 (04:47):
Yeah, So it started about I would say even more
than twenty three years ago. I started out with like,
not even knowing I was an entrepreneur. I was a
stay at home mom for twenty years. I homeschooled my
kids and I helped my husband run or small business.
But before that, I started doing, like you know, selling
tupware and avon and things like that. Had no idea
where it was going to lead me or even what
(05:08):
that was about, just trying to make some extra money, right, entrepreneurship.
We started a business it was appraisals for car damage,
and that just like grew and grew. We've bought in
a couple of body shops. One of our partners took
all the money right before Christmas time and left us
with nothing. And then we had a body shop out
(05:31):
in Hysperia doing just r V work, which was very good,
very good money.
Speaker 2 (05:37):
But then you didn't trust the wrong person this time.
Speaker 5 (05:39):
No, it was actually my husband and one of our
good friends that was doing it. So we yeah, we
didn't trust the wrong person, right, and it just like
it grew into this huge business. We had originally partnered
with someone. We broke off to do our own thing.
I was helping with the books, doing the accounting. I
turned into managing doing some of the HR stuff and
(06:00):
that business. Actually, I think it's been like eight years.
They changed the industry here in California and we went
from forty thousand dollars a month to five thousand dollars
a month in about six months.
Speaker 2 (06:12):
Like it was simply because of the legislative changes.
Speaker 5 (06:16):
I know, the insurance companies brought in their own in
house appraisers and just wiped us out. And I was
just like, what are we going to do? Like this
is crazy? And my husband actually took a job right
down the street right before all this started happening. And
what year it was like eight years ago? Yeah, I
don't know what year that was.
Speaker 1 (06:35):
It was relatively yeah, I stopped counting in years now.
It's like pre trauma post trauma. Like I'm like Jesus,
I have defining modes eighty.
Speaker 5 (06:45):
You got to make up your own urb. So he
took a job and I didn't really understand the time
why he was taking that job, but I just started
paying off all kinds of debt and I was like,
we don't need that money, We'll just start paying off debt.
But then our business started going down. My mother in
law was dying of cancer, my husband was checked out,
we were closing this business down, my secretary was quitting.
(07:06):
Like all this stuff started.
Speaker 1 (07:07):
And when you say your husband, you didn't understand why
he was taken, that was he kind of shielding you
from the.
Speaker 5 (07:13):
TI He didn't know either. It was just like an
act of God, like he.
Speaker 1 (07:16):
Just got a sixth sense that I need to kind
of have a diversification of my income exactly.
Speaker 5 (07:21):
And it really helped us to get through a really
hard time because I was pretty much going through it
by myself so that he could just be with his
mom and deal with that. But because I had gotten
our finances in order before that, I didn't go through
it with like a piece, but I but I did,
like I was like, Okay, I know where all my
money's going. I know that we have these bills, like
(07:42):
they're paid off. We had like one debt left, which
was our solar panels of all things. But it just
made the transition so much easier, and just it sucked
I mean, I'm not gonna lie right, life sucks, but
just having that in order, it was one less thing
I had to worry about.
Speaker 1 (08:00):
And so the job that he took did that kind
of pivot you guys into what you're doing now, or
talk to me about You talked about the downside, now
give me the upside. How did then you kind of
stumble upon, you know, the main hustle, the side hustles,
and these different verticals of income and the coaching.
Speaker 5 (08:17):
So while I was getting my money right, I was like,
I have to share this with other people, Like I
need to open a business to be able to help
other people because I know a lot of people are
going through this. I think the statistics are like eighty
it's probably eighty five percent now that people are living
paycheck to paycheck, and four out of five six figure
income earners are living paycheck to paycheck. So it's pretty bad.
(08:38):
And we know inflation is like outrageous and.
Speaker 1 (08:41):
And you know, and what she said, some of you
guys who don't make six figures a year may think, oh,
that's just you know, if I was making that, to
be honest with you, the circles that I ran in, right,
ten million, twelve million, and fifty million dollar houses your
entire Newport coast. The statistics are actually almost that most
of these guys that you would call a multimillionaires and
the Ferraris and the Lambos and all that, they're also
(09:04):
living kind of deal. It's not necessarily paycheck to paycheck,
but it's deal the deal, right, They got hundreds of
thousands in debt, they got one hundreds thousands dollars of expenses, mortgages, rents,
et cetera. So all it takes is that one deal
to keep them scrambling. And you know, I briefly told
you my backstory, but Orange County, California, where we live,
is the Ponzi scheme capital of the world. There's more
(09:25):
Ponzi schemes that are started in Orange County than in
any other county.
Speaker 2 (09:28):
In the world. And it's mainly because of that.
Speaker 1 (09:30):
There's and they also say that ninety percent of those
didn't start off as Ponzi's.
Speaker 2 (09:34):
It's people kind of got into rut.
Speaker 1 (09:36):
They started off as hitty real estate deals that went
on here and the economy changed or were kind of scrambling.
They've taken on too much debt, unsecure debt and that's
how the snowballs started. So it's it's it's it's an
interesting statistic, but I think we understand.
Speaker 2 (09:50):
But I think a lot of young entrepreneurs, Oh, I
would never make passes story.
Speaker 4 (09:54):
You know.
Speaker 1 (09:54):
I can't even imagine making in orton or half to
own part year until you get there.
Speaker 2 (09:59):
And I don't if jay Z said, I've got more money,
more problem.
Speaker 6 (10:02):
But as long as you have the right fools, it
doesn't happen to be your problem.
Speaker 1 (10:05):
Right right, Well, listen, we're gonna take a break. I
have a feeling this is gonna look get a little
bit more exciting. I want to give you guys actually
tools to make sure that this doesn't happen to you.
So when we get back, I'm gonna find out a
little bit more about what this expert coaching is all about.
We'll be right back here Financial Fridays on iHeart Radio.
Speaker 3 (10:21):
We'll be right back with the Financial Friday five on
Cannabis Talk one on one's Financial Fridays with the Insider
Investor Tony K. Welcome back to Cannabis Talk one on
one's Financial Fridays with the Insider Investor Tony K. It's
(10:42):
now time for the Financial Friday five you.
Speaker 1 (10:45):
Guys, Master Mentors Live. You hear me talk about it
all the time. You see me out on the road
on my Instagram. Well, we're coming to city in town
near you. Master Mentors Live.
Speaker 2 (10:54):
What is it? Listen up. Here's what we do. We
go out to the States.
Speaker 1 (10:56):
We offer free ninety minute workshops to teach you how
to be the next canipreneur.
Speaker 2 (11:01):
It's the hottest, fastest.
Speaker 1 (11:02):
Growing industry right now, soon to be a multi trillion
dollar industry. And it's not just about being a grower
owning a dispensary, which we can help you get license
to do that as well, but there's a thousand different
ancillary businesses that support that industry. We're talking about HVAC design, packaging,
what we do, a media company, publications, podcasting, you name it.
Speaker 2 (11:23):
There's an opportunity in there.
Speaker 1 (11:24):
If you want to learn more about how to diverse
fire income, check out our upcoming Master Mentors Live events.
I'm now back here with ms Palmore and she coined
herself as the expert money coach and con founder of
your Money on Purpose Coaching, which is also trademark which
I love.
Speaker 2 (11:41):
So you learned that lesson hard way.
Speaker 1 (11:44):
So give me a little bit. Okay, so I'm gonna
play Devil's advocate here. You had a couple of successful businesses,
you had a fall down. Was it you taking little
bits and pieces of things that made you valuable or
did you kind of look at other systems, products services?
Give me a little bit of understanding of how the
coaching program works.
Speaker 5 (12:04):
Yeah. So I took my experience and I've taken some classes.
I've taken some courses, but really it's when you get
into the room with people, like what is it that
they really want? Because a lot of money coaches or
financial coaches have a cookie cutter system.
Speaker 2 (12:22):
They want to that to.
Speaker 5 (12:24):
Do you know, baby steps, or they want you to
do this and they want you to do that. But
that doesn't work for everybody. It doesn't work for most people.
Most people, especially here in southern California, we want to
spend money, We want to have fun.
Speaker 2 (12:35):
Right, yeah, sometimes too much?
Speaker 5 (12:40):
So how can we do all those things? And we
value those things? You know, those are important for us
to go out to network or to have events or
whatever it is. So how can I help people to
I say, do all the things? How can we pay
our bills, invest in our future, and do what is
important to us right now.
Speaker 1 (12:57):
And so when they hire you on as a coach,
is this kind of like building out a one to
three year roadmap. Obviously you don't offer investments because you're
not licensed, which, guys, by the way, the reason I'm
asking these questions is you guys have kind of preached.
I mean, I think financial advisors play a great role.
But what she said is exactly true, and there's a
lot of great financial advisors out there. I still I
(13:18):
was just on the phone with the buddy of mine
that we actually got licensed together and we owned a
firm together part time. But the reality is is that
every single top firm out there, Morgan Stanley, Goldmen Sacks, Merrill,
Lynch Ubs, and out of those names, I've worked at
three out of four, all of those have cookie cutter
products that they package up together. They get all the fees,
they get all the dog and pony shows, they get
(13:40):
the trips to Bora Bora and can Kun and Aruba,
all places that Ferbs took me to to then that
those trips are sponsored by these mutual fund companies and
they pay the nut we go out there we get
wined and dined and trips for free.
Speaker 2 (13:54):
When we come back, we're encouraged to sell those products.
Speaker 1 (13:56):
Now, our commissions aren't tied to those because that would
be illegal. However, it's like, hey, you get free Britney
Spears front road tickets back when you gave a shit
about Britney Spears, or at least your girlfriend did, right,
And so there was, you know, somewhat pressure, There was accolades,
there was hey, you'll get the corner office. So they
kind of got around those. But the reality was that
all the products on Wall Street. This is a statistic
(14:19):
I'm not making up. If you google right now, what
is the average money manager on Wall Street make for
their investors. The average rate of return is less than
seven percent, somewhere between six to eight percent net of fees.
Speaker 2 (14:31):
So that means that if.
Speaker 1 (14:32):
You trust your hard earned money with them, after all
the ups and downs, you're lucky if you make less
than ten percent, but at least come out positive. And
when you see that stat and when you understand what
these guys are up against, it's not their fault. Now,
there are crummy advisors out there that chase, chase high
commissioned products but overall, the advisors aren't given all the tools.
That's why I ended up going independent. But even in
the independent world, you're still limited on the offerings.
Speaker 2 (14:54):
And there's a.
Speaker 1 (14:55):
Handful of people out there that aren't looking to sell
you products, but they're looking to actually what they know.
And those are the kind of entrepreneurs and coaches and
people that I kind of want to subscribe to because
sometimes you can take a nugget that this person teaches
you and you can really get real life advice. Right,
So is your primary student if you will, or a client?
(15:17):
Are they kind of entrepreneurs struggling? Are there people trying
to get out of debt? Are there multimillionaires who want
to look for diversification? Kind of give me an understanding
what the clients.
Speaker 5 (15:26):
Dook like things, all the things. So most of my
clients are entrepreneurs. They're women who have businesses. I say,
they make great money, but they don't know where their
money's going. Yeah, and that's frustrating. It brings a lot of,
you know, stress, and so how can I help them
gain clarity, control and confidence with their money? And so
that's what we do. We sit down and we come
(15:47):
up with where is their money going. That's the first thing, right,
We got to look at those bank statements and find
out what what are we doing?
Speaker 2 (15:57):
Uh?
Speaker 5 (15:57):
And then we come up with a plan. And I
don't do a budge. I don't like that word. We
don't use it. We use spending plan because we're making
a plan with our money. We get to tell our
money where to go and figure out how can we
do the things that we want to do. Do we
have to make more money? Do we have to make
some choices on how we're spending our money? Like, we
get to make those choices. It gives us our power
back to look at that way, to look at it
(16:18):
that way.
Speaker 2 (16:19):
Now, what tools do you use?
Speaker 1 (16:21):
If somebody so most people have a problem with managing
their spending, I would say, right, that's at least when
I was in my console.
Speaker 2 (16:28):
So that's what I hasn't changed. That part has changed.
I've been away for seven years, but that hasn't changed.
Speaker 1 (16:34):
And to your point, I quickly figured out the guy
that makes five million a year or fifty thousand a year,
they all kind of have the same problem. Is their
allocation of resources worrey spending it. But let's say you
get somebody and now they're making better decisions. But they
have piles of cash, and now you need to advise
him on where to deployment. How do you make those
decisions and what do you do on that regards?
Speaker 5 (16:56):
Well, that depends on what their goals are.
Speaker 2 (16:58):
Right.
Speaker 5 (16:58):
If they want to make you buy a piece of property,
you put them in touch with a real estate agent.
If they want to invest it, you put them in
touch with a financial advisor. You know, you just kind
of I sublet all that stuff out.
Speaker 2 (17:10):
I trusted resources.
Speaker 5 (17:12):
I have trusted resources. Who can I send them to
if they don't already have someone because I don't want
to step on anybody's toes or ruined relationships. But who
can I send them to that can help them do
the right things with the money?
Speaker 2 (17:23):
That's awesome.
Speaker 1 (17:23):
Yeah, I think that's a huge value. Add guys and
I and you know I, I was just sharing this
with you. It took me kind of leaving Wall Street
to hire my first paid coach, and now I probably
have three or four of them. I have a health
and witness coach I got. I still have a business coach.
I have a legal coach forgot that. But it's important
(17:44):
to have those and you guys hear us talk about
this obviously the drop we just did with Master Mentors,
another coaching program that we've started to help young candid
canipreneurs as we call them. But every successful and when
I say successful, I'm talking about guys that make over
a million dollars a year take home. Every single one
of them has no less than three coaches. And most
people that don't have money look at us. Why would
(18:06):
I pay for a coach? Why would you pay for
a business coach? Why would you pay for a personal coach?
Why would you know? What are their designations? And you know,
I'm sure you get that a lot too. And in fact,
one of my buddies when I got into this, well,
he's like, well, you just you know, walked away from
Wall Street, you went through this huge scandal. Why would
anybody pay you to be on your show or how
you know? And there's so many people that think that
(18:28):
designations or a brand representable. You're not with Morgan Stanley,
you're not with the top firm. But it's those guys
that are struggling the hardest. And it's those guys that
are kind of pre programmed into only offering well, no,
you got to buy this annuity or you got to
buy this mutual fund. And it's it's a shame because
I think there's a lot more opportunities out there for
people if they really just start thinking outside the box.
Speaker 2 (18:48):
And that was the whole premise of the show. So
I'm glad you came on today, but.
Speaker 1 (18:52):
Before we let you leave, I think it help the
audience if we put you through the Financial Friday five.
These are five questions that we ask every guest. Just
give me the answer straight off the top of your head.
They're not zingers, they're just kind of a lot of
times these questions elicit advice that the audience can take
and we can kind of convert it into take home
little nuggets. And that's what I always tell the audience
is sometimes you can just take one little piece of
advice from every single show. You'd be surprised at how
(19:15):
valuable that makes you. And I hope the show brings
a little bit of nuggets for you because unlike my
politics show, I'm bringing on financialvice.
Speaker 2 (19:21):
This is named directly it a hater that I got every.
Speaker 1 (19:24):
Nastages, all right, So number one on the Financial Fighting
five is what was the best investment you ever made.
Speaker 5 (19:32):
My best investment, I think, is just investing in personal development,
making sure that I take classes, I learned skills, I
get coaches and make myself help me to become the
best version of me.
Speaker 1 (19:47):
Funny she said that, because if you guys have listened
to at least half of the past fifty two shows
the successful people that I bring on again, the people
that are qualified to give money advice nine times out
of that's their advice is personal development.
Speaker 2 (20:03):
Myself, they'll say.
Speaker 1 (20:05):
But the reason they can say myself because they did
pay somebody to become the best version of themselves. And
that phrase becoming the best version of yourself. I guarantee,
not knowing this that she got it from a personal
development either guru, a book, or being around somebody that
has that in their vernacular. Because before I joined my
personal coaching program and then hired the gentleman to be
my personal coach, and he charges, by the way, guys now,
(20:28):
and it's no joke. He charts one hundred and fifty
thousand dollars to coach with them per year. And at
the time people told me I was crazy because I
was paying them five thousand dollars a month, which you
know is six still sixty thousand a year, and when
you're struggling sixty thousand years a lot of men, you
have to pay to go see him every every year,
every month we'd meet up a month in Texas. So yes,
(20:48):
becoming the best version of yourself is definitely the best
investment you ever make. And it goes along with advice
I gave you guys, because I do get dms and messages,
especially when I do more, you know, drops on Instagram
about the market going side, what should I buy?
Speaker 2 (21:00):
What should I invest in? Do believe in bitcoin?
Speaker 1 (21:02):
And my first question is, you know, unless you already
have your shit figured out, you have over one hundred
thousand savings, your business is rocking and rolling, that you
need investing yourself. You don't need to start dabbling in
cryptocurrency and what stock should I buy? And this and that,
because you're going to spend the time following that stuff
instead of following yourself and your investment. So if you
(21:23):
if you're struggling, you're still trying to figure out there's
no stock, there's no crypto coin, there's no dump coin
that's going to get you out of the rut until
you start investing in yourself. And if you've listened to
my story, you know that I'm a testament living proof
of that. Question Number two is what is the worst investment? Now,
this is gonna be into a business or person that
you've ever met.
Speaker 5 (21:41):
Uh, I don't know if there's ever been a worse investment, right,
because everything's a lesson learned.
Speaker 1 (21:48):
How about, because I'm not gonna let you off that,
what was the worst or investment you ever made in
a business or person that costs you the most money.
Speaker 5 (21:58):
That costs me the most money? Well, we went into
business with somebody we were talking earl. Yeah, we went
into business with a partner for a body shop and
right before Christmas he took all the money and ran.
Speaker 1 (22:09):
So, in hindsight, what would you have done different to
kind of not be in that situation?
Speaker 5 (22:16):
Contracts, agreements, knowing the person better.
Speaker 1 (22:21):
Yeah, you know, sometimes guys, you got to go You
got to grow through what you go through. Right, another
phrase from that world, And it's important because sometimes people
ask me, well, do you know how you you're a
financial advisor? How did you let your former partners start
a twenty three million dollar ponzi scheme. You know, aren't
you supposed to be the one that sniffs out. Sometimes
(22:42):
you can do everything in the world. Sometimes you can
have contracts, you can know a person, you can live
with them, you can rock with them for twenty years.
Speaker 2 (22:48):
You can help bury his mom like I did.
Speaker 1 (22:51):
But at the end of the day, poss are going
to be poss right, And there's only so much you
can do. And you can't really blame yourself too often.
Now if that happens, if you're on your eighth marriage,
it's you, not that all right, So the same shit
keeps happening it over and over the mirror, but our
reality coach shit.
Speaker 2 (23:10):
But but no.
Speaker 1 (23:11):
I mean in all honestly, you know, I don't know
any again successful person that hasn't been sued at least
three times that doesn't have a horror story, doesn't have
that story of somebody robbing them, stealing from the next cetera.
Speaker 2 (23:22):
So it's just something you got to grow through.
Speaker 1 (23:24):
You go through and you'll grow out of it and
then you'll be able to say, well, it was still
worth it. In fact, funny story on that when I
lost my personal five million and my client's lost and
all that, my Mom's like, you know, how do you
when she didn't mean it in mean way, but she's like,
how do you even wake up? And just like function
knowing that you just lost you know, everything, close to
five mil. And I said, well, you know, maybe this
(23:45):
is my way of learning a lesson going through this,
so someday I can save five million when I'm about
to make fifty million. And I was just putting it
out the universe at the time, I had no idea
how that was going to happen. But now I feel
like over the past seventy eight years, I've put myself
in that position now to word.
Speaker 2 (24:00):
Now, before I.
Speaker 1 (24:01):
Was trusting everybody I'd asked, you know, I kind of
like assume the best of people. And now I'm still
kind of like that. I'm still easy going, but behind
the scenes, I have an army of people. I want
you to do background check. Once you do a credit check,
that you fall that asshole around and then I'll sit
there and yeah, I mean not just a PI. I
like black Market PI, Dark Web PI is like, yeah,
if I'm gonna trust anybody, And subsequent to that, I
(24:22):
still got screwed over a couple more people. So I
realized as you get into the big money world, there's
always going to be people some of the biggest bawlers
out there.
Speaker 2 (24:29):
School you know took.
Speaker 1 (24:30):
Me to But this time I had the right contracts,
I had the right resources, so they have the assets
so eventually they'll pay. So now it's just my approach
to it has been different. So every you're going to
go through that question number three on the Financial Friday
five is what is the best present you ever bought yourself?
Speaker 5 (24:48):
I ever bought myself This ring right here paid for
your own wedding ring. No, but I wanted an upgrade
and so I got.
Speaker 1 (24:57):
Okay, there we go tooth comes out, So tell me
a little bit about it.
Speaker 2 (25:01):
Five cars, three cares quality.
Speaker 5 (25:04):
So I have my original I have my original ring
on here because I can get it off. Because this
is just a reminder of humble beginnings right where we started.
This is like one hundred dollars, which was a lot
of money for me twenty six years ago. I had
to put on a credit card, somebody else's credit card.
Actually it wasn't even my own, but it just reminds
me of you know, where I've come from, and.
Speaker 2 (25:26):
Now how far I've come, that's really cool. Yeah, very cool.
Speaker 5 (25:30):
So that was the best.
Speaker 2 (25:31):
So you guys have been married now twenty six years. Yeah, yeah, excellent.
Speaker 1 (25:36):
And when you guys first met, so it sounds like
you're both struggling or not really, you know, living and
lavish lifestyle.
Speaker 5 (25:42):
No, no, we were. We were doing okay. And when
I get pregnant, I get very sick, and I get
sick for a long time and I can't do anything.
So I couldn't work.
Speaker 2 (25:53):
This is the whole morning puke thing, or it was
all day puke. I've never gone through this. It was bad. Yeah,
it was so.
Speaker 5 (26:01):
Yeah. I wasn't able to work, and we had one
of our kids in private school, and just one thing
led to another, and yeah, we struggled for a long time.
But you know, we had what we needed. We've always
said what we needed.
Speaker 1 (26:12):
I've realized that, you know, being in California, I think
it's now close to one out of every two marriages
ends up in divorce. And but it's also based on
if you got married before twenty five, it's like fifty percent.
Speaker 2 (26:22):
As you get a little bit.
Speaker 1 (26:23):
Older, if you get married in your forties and fifties,
then it's kind of skewed a little bit different where
it's like thirty percent. But California also happens to be
the divorce capital of the United States. And it's mainly
because I've found that people that started young, if they're
both struggling, and they kind of go through these up
and now as they make it. But it's when you're
mixing the different economic levels and expectations. Well he's got
to go to work and I'm home with the kids
(26:44):
and he's making the millions.
Speaker 2 (26:45):
Well I'm not.
Speaker 1 (26:46):
That's where you kind of see the problems. But when
they're getting married later in life, people have already figured
out that shit, so it tends to work. So a
little fun fact, but I like that president you bought yourself. Now,
follow up question the question before is what's the best
president you ever bought?
Speaker 5 (26:58):
Somebody else talking about this earlier, and I don't know
how to say it, but it's one of those Eulaugerie
books for my husband.
Speaker 2 (27:06):
What does it call?
Speaker 5 (27:07):
How do you say?
Speaker 2 (27:08):
Bourgeois bourdoir?
Speaker 1 (27:10):
You know you arede those photo things that the chicks
do for their husband that board no.
Speaker 5 (27:14):
Yes, yes, And I did that just a couple of
years ago.
Speaker 2 (27:18):
So do you know that, girlfriend?
Speaker 5 (27:23):
I think it was also empowering for myself, you know,
just being forty seven and doing something like that.
Speaker 2 (27:29):
Now do you guys hang that in the bedroom.
Speaker 5 (27:31):
It's just a little book for him. It's just for him.
Speaker 2 (27:33):
Very cool, very his wedding ring too, ring he lost
one hundred dollars wedding ring. Yes, all right, So what
does he walk around with? Nothing? He doesn't know.
Speaker 5 (27:47):
He doesn't have anything because he he can scratch cars
and stuff with it because he works in a body shop.
Speaker 2 (27:52):
So that makes sense. Good excuse Phil, He has an out.
Speaker 1 (27:58):
That's like I had taken off to wash my heads.
Speaker 2 (28:02):
All right, guys.
Speaker 1 (28:02):
Final question on the Financial Friday five is if you
could buy one thing and money is not an object,
what would that be?
Speaker 2 (28:09):
Oh my god, And the answer cannot be I want
to buy more wishes.
Speaker 5 (28:12):
No, I don't want to buy more wishes. I think
it would be to buy what I want, which is
to have a house for women who have been abandoned
by their husbands.
Speaker 2 (28:20):
Oh, excellent, like a little shelter.
Speaker 5 (28:22):
Yeah.
Speaker 1 (28:23):
Are you are you doing anything to kind of make
that a reality? Starting nonprofit planning the seeds?
Speaker 5 (28:29):
That is what I'm I'm thinking about starting a nonprofit.
I'm actually working with a nonprofit profit right now out
in North Carolina, so I help there are homeless people
who are being brought in by the mission, and then
I teach them how to manage your finances, so kind
of learning the workings of their mind and what's going
on in the workings of a nonprofit so that I
can start opening my own and start getting that well, let's.
Speaker 1 (28:51):
Put that out there in the universe. I've found that
when I do do that, and I do it on
a public format like this, it tends to kind of materialize.
So if there's anything I can do to help with that,
be more than happy to. I think it's a very
valid needing concern. In fact, I think that's one of
the biggest problems is financial literacy. You know, I harp
about it all the time right now, but even through
college and high school, all the crap we learned and
(29:14):
paid for and leaving college with six figures in debt,
you don't learn about foreclosure processes. You don't learn how
to buy first trusteeds, you don't learn how to repair
your credit, you don't learn any of the things that
can actually help you make money, not ruin money.
Speaker 2 (29:25):
No classes on that.
Speaker 1 (29:26):
But you know, the forty fifth president in Nicaragua was
on a test or whatever.
Speaker 5 (29:30):
Right, So make things that don't matter.
Speaker 2 (29:32):
Things that don't matter.
Speaker 1 (29:33):
And I mean, I guess it matters if you want
to study, you know, international presidency law. But that's why
I kind of tell kids now, especially this generation, to
where you know the schools will give you hundreds of
thousands of dollars in loans. You want to go back to school,
still give you loans. All right, you graduated, you need
a business loan. Sorry, you don't have experience, you don't
have this, you don't have that. So but let's still
give you credit cards on the first day of freshman year.
(29:55):
So it's unfortunate that the school systems in the United
States are completely broken. Of course, there's value in it
if you're going to be a dentist, lawyer, doctor, attorney.
But you know these kids that go with and I
keep picking on this term, but I got a sociology degree.
Speaker 2 (30:10):
Cool, all right, yeah, what are you gonna do with it? Exactly?
Because I can't think of a single job that that
you know is the deciphering criteria. But I encourage people.
Speaker 1 (30:20):
You know, look at look at alternatives, look at just
trying to you know, first figure out what.
Speaker 2 (30:24):
You want to do.
Speaker 1 (30:24):
Learn entrepreneurship, hire mentors, and quite frankly, you know if
you don't have that mindset, and school sucks for you. Attorneys, plumbers,
electricians all are making six figures and multiple steaks right now.
Speaker 2 (30:36):
If there's a shortage of them, we'll.
Speaker 1 (30:38):
Be continuing shortage of them because AI is not going
to fix that.
Speaker 2 (30:41):
All these other industries.
Speaker 1 (30:42):
AI is going to take over, and so if you
are struggling, I do not think schools answer anymore, guys.
Speaker 2 (30:48):
And I think there's.
Speaker 1 (30:49):
Different types of schools that you go to that don't
come with a fabricated degree run by a corporate.
Speaker 2 (30:54):
Sorry, it's got to try to make that back trade.
Speaker 1 (30:56):
Back absolutely all right, guys, we're gonna take quick break.
When we come back, I'd like to hear a little
bit more about how you guys can find.
Speaker 2 (31:04):
Out how to tap into her system. We'll be right
back here on Financial Life.
Speaker 3 (31:07):
We'll be right back with more financial Fridays with the
Inside Investor Tony K. Make sure you follow Tony at
the Insider Investor. Welcome back to Cannabis Talk one on
one's Financial Fridays with the Inside Investor Tony Ka. Make
(31:29):
sure you like, follow and subscribe to the show.
Speaker 2 (31:31):
Now.
Speaker 1 (31:32):
Oh guys, if you get yourself caught up and you're
looking for an attorney, please consider mister Freddie Sage. He's
our personal attorney here at c T one to one.
He's become a good friend of ours. This dude handles everything, man.
He's become an expert in cannabis law. He speaks all
over the United States. In fact, he speaks at our
master Mentor's live events. He's also an entertainment attorney from
a defense attorney. He's also got ties into many other
(31:53):
legalities that you may need to But he's somebody that
I trust, which is a hard thing to say about
my fellow attorneys, right, but.
Speaker 2 (31:58):
This is a good dude. Guys, give them a call.
It's three one oh eight seven seven five.
Speaker 1 (32:01):
Zero three three again three one eight seven seven five
zero three three, Or go to this website. It's the
Foxfirm dot com. That's what two x's are the fix.
We're now back here on Financial Fridays, guys.
Speaker 6 (32:12):
Before we took this last break, I asked her about
this money coaching program that she has, and I think
I haven't been bringing that on the show a lot
because it's hard for me to kind of recommend anybody
else in the money game, especially when it comes to investments,
and the fact that she doesn't have a product to
sell you. She doesn't have a cookie cutter box ops
(32:32):
a way. She's not selling you amway or coaching in
a box. She's literally just giving you her life experiences
and showing you the trials and tribulations so you can
learn her from her mistake. Plus, it looks like we
have an opportunity to kind of get your finances at order. Uh,
you've heard me kind of talk about not just the
political environment, but the direction that this country's taken. I
do think at some point we're going to have this
other black Swan event, which is just another thing that
(32:54):
you never expected to happen that I think it will
really shock the system. So I keep saying, get your
money in order to house in order, and I think
somebody like this could really help you out. So if
I'm a new client and I just hurt watch this
and I'm like, hey, I want I want to check
this out, what can I expect what's the price.
Speaker 2 (33:09):
Points, what kind of commitment is that, and what do
you need from me?
Speaker 5 (33:12):
Yeah, so I start everybody on foundational coaching, So we
got to heil the onion back, as you said, and
really get to the basics, where's your money going, what
is it doing, where do you want it to go?
And really building out your plan, working on your mindset,
your behaviors. It's it's a process. So for personal coaching,
(33:33):
ninety days, it's twelve ninety seven. I also do business coaching,
so business is twenty four ninety seven, so ninety days.
And then we move into what I call accountability and growth,
and it's just continuing the work that we started because
we still need accountability, right.
Speaker 1 (33:47):
And then the accountability is weekly coaching calls monthly or
as I have needs and problems, I kind of address
them with you or how does that work?
Speaker 5 (33:55):
So it's usually about two times a month. It depends
on what the client needs. Eventually work them into like
once a quarter that would be great, right, And you
don't want them to be having to talk to you
all the time. You want to empower them to be
able to make those decisions themselves.
Speaker 1 (34:08):
You mean, you don't just try to stream people along
for forty years to take their money.
Speaker 5 (34:11):
No, I wouldn't be a good.
Speaker 1 (34:16):
Yeah, there was this joke in the coaching community that
you need to coach them on how they need you
right keep paying every month? But right, yeah, it's it's
you know, the whole coaching world that I got involved with,
there's so many bad ones that kind of just like
any other industry. Though I used to think it was
just the financial services industry where I would identify like
three guys I'm like, dude, I can't believe these people
(34:36):
would trust this guy with their money. But I realized
as I dabbled in the real estate world, masterminding world,
entertainment world, it's kind of like that. In every industry,
you got some bad apples that give the industry a
bad name, and then quickly that people kind of look
at you, so, oh, are you going to be one
of them? And so I think, I think the best
thing you can do is just be authentic, be yourself,
and people kind of resonate that before we take off,
(34:57):
give me a give the audience a little bit of
info on how they can get a hold of you,
or your Instagram, your website.
Speaker 5 (35:03):
Yeah, you can find me on all the places at
your Money on Purpose dot Com, Instagram, TikTok, LinkedIn, Facebook.
Speaker 2 (35:09):
Your Money on Purpose.
Speaker 5 (35:10):
Your Money on Purpose. My website is your Money on
Purpose dot com. And then I also have a podcast
it's actually your Business on Purpose because it's all about business.
Speaker 2 (35:20):
Actually, how many episodes you got there? Now?
Speaker 5 (35:23):
I am over one hundred. I definitely know the exact number,
but we're over one hundred.
Speaker 2 (35:27):
Now. You're in the top three percent of all podcasters.
Speaker 6 (35:29):
I know.
Speaker 1 (35:30):
That not a fascinating statistic. Actually it's ninety percent of all podcasts.
They'll make it past ten episodes.
Speaker 2 (35:36):
I know.
Speaker 1 (35:36):
It's so weird nice and it just tells you how
many people start things that don't that never finish. And
I think that's why there's so much room for opportunities
out there, because people always think like, oh, it's too
late to get into that. People aren't doing things the
right way. A lot of people may be getting into
a certain business or industry, but it doesn't mean they've
mastered it. So congratulations to you. And I mean one
hundred episodes of snow Joke. And how long ago did
you start?
Speaker 5 (35:58):
It's been over a year or so. I put an
episode out every.
Speaker 1 (36:01):
Week, so okay, yeah, that makes sense. So every week
you're looking at about forty episodes. So you've been doing
it for two years or you had that Missus money
coach over a year.
Speaker 2 (36:19):
Yeah, no, I'm just teasy.
Speaker 1 (36:20):
Yeah, before we leave, is there any other events or
any kind of events you want to promo?
Speaker 2 (36:25):
Other speaking gigs you have? Yeah?
Speaker 5 (36:28):
So, well, tomorrow will be at Divina's events. So that's
going to be an awesome event. And if you guys
don't make it, make sure you get on her list
for the next event, which I think she's having in October.
I'll actually be having our food there, so I also
have a catering company. We'll be featuring my husband's amazing
Texas style barbecue.
Speaker 1 (36:46):
I'm from Texas and I'm a big barbecue freak, so
that check better cash, and I'll be honest it will.
I like Texas barbecue because it's not overly sugary. I
feel like California and some of these other barbecues just
put a shit ten of sugar in it.
Speaker 2 (36:58):
So I do like Texas barbecue.
Speaker 5 (37:00):
As they don't know how they're doing.
Speaker 1 (37:04):
How can they find out about the barbecue and hiring
you for pop up events and.
Speaker 5 (37:08):
Carrie, Yeah, so we're on Instagram at white Oak Craft Barbecue.
So white Oak Kraft Barbecue on Instagram. That's the only
place you can find us.
Speaker 1 (37:18):
And you guys, she mentioned Divina's event. I know you
may you may have seen this online etcter. This one
was I think more of a private industry only event.
But she's really looking at expanding that. It's going to
be a great networking opportunity in southern California. Shoot me
a DM, shoot her DM. I'll get you on the
list for the next event. I think it's something that
it's always valuable when you can kind of be a
part of a network. They say your net worth is
(37:40):
your network, right, and you you know, the more good
people you have, you the bigger your rolodex is.
Speaker 2 (37:46):
As you expand and you pivot and you have to
look at multiple streets of income.
Speaker 1 (37:49):
You'll never know when having another person.
Speaker 2 (37:51):
In your group will help you expand on that.
Speaker 1 (37:54):
So with that said, I want to thank you for
coming on the show. I'll take an invite to be
on your show anytime because now I'm excited.
Speaker 2 (38:00):
This is one hundred plus episodes.
Speaker 1 (38:04):
I think I just barely hit my one hundredth episode
after all the shows, but we only do a show
once a week or every Friday basically for the past.
Speaker 2 (38:11):
Trip, So congratulations again on that. Looking forward to facing
your food tomorrow.
Speaker 1 (38:16):
And you guys, I want to thank you for listening
to Finance Fridays here on CQ one on one. I'm
Tony Ka and you can always find me on Instagram
at the Insider Investor.
Speaker 2 (38:23):
Remember, keep that wallet tight, keep your mind right. I'll
see you next Friday on Financial Friday. Until next time,
I'm out.
Speaker 3 (38:30):
Thank you for listening to Financial Fridays with the Insider
Investor Tony Kay on Cannabis Talk one oh one, the
world's number one source for everything cannabis.
After twenty two years of being a Titan on Wall
Street and starting his own firm, Tony Kasai get is
walking away.
Speaker 2 (00:07):
What just said?
Speaker 3 (00:08):
The ugly side.
Speaker 1 (00:09):
Hooking and only Inside We'll interview insiders and other titans
of all types of industry, offering advice and sharing stories
of it. First, this is another episode the Inside Show.
Speaker 3 (00:22):
Welcome to Cannabis Talk one on one's Financial Fridays with
the Inside Investor Tony K. We're the world's number one
source for everything cannabis.
Speaker 4 (00:31):
The information provided by Financial Friday and Tony Kasai is
for general information entertainment purposes only and should not be
considered as professional financial advice. Consult with the professional for
making any financial decisions. YO.
Speaker 1 (00:45):
I don't know where you are, what you're doing, or
what day of the week it is for you, But
over here the CT one on one iHeart studios, ladies
and gentlemen, it is Financial Fridays for us.
Speaker 2 (00:54):
I'm Tony K.
Speaker 1 (00:54):
You're Inside Investor, and now I'm here to get your
mind right and your money game type. You're hearing me
on the world famous CT one on one, heard in
all over the world in one hundred and eighty three countries, guys,
feel free to leave me a financial question anytime at
one eight hundred four twenty nineteen eighty. You can always
find me on Instagram at the Insider Investor. Please make
sure to follow the show on YouTube. Guys, Cannabis Talk
(01:15):
one on one, make sure you follow show us some love.
Keep subscribing.
Speaker 2 (01:19):
Now, you guys know why I created Financial Fridays.
Speaker 1 (01:21):
Right because after twenty years of being a Wall Street insider,
I got sick and tired of watching the little guy
get screwed over.
Speaker 2 (01:27):
And of course you know what I want to do now.
Speaker 1 (01:28):
I want to empower you guys by giving you access
to what's been in my head for over twenty years.
And more importantly, I want to bring on with my
special friends to share their wisdom of empowerment, the markets
and just life in general.
Speaker 2 (01:40):
Guys.
Speaker 1 (01:40):
And of course, one of the biggest secrets empowers that
I've discovered over the years was that your money is
always going to be hit with taxes, right, And it's
not how much money you make, it's how much money
you keep. And the biggest misconception out there is that
taxes need to be in April problem you know, or
October if you own a corporation. But the reality is
most people understand is you got to not just have
a CPA attax from the deals with your stuff on
(02:02):
a monthly or an annual basis.
Speaker 2 (02:04):
You need to consider your taxes on a monthly basis.
Speaker 1 (02:07):
That's why I love my friends over at Easier Accounting
dot com. Easier Accounting they got a brick and mortar
location out in Utah, so they're not outsourcing anything.
Speaker 2 (02:14):
It's a massive entity.
Speaker 1 (02:15):
They've been around forever and they also have a special
carved out section just for the cannabis community. More importantly,
they deal with entrepreneurs LLC setup formation. They handle cash
flow projections Easier Accounting. It's in their name, guys. Easy
to find them and if you want to give them
a call eight eight eight six twenty zero seven seven zero.
Now you guys, I've been talking about a lot of stuff.
(02:38):
Sometimes people are like, man, I thought your show was
financial Fridays, not politics Fridays. What you don't understand is
that it's all tied together, right, as Tony Montana said,
First you get the money, then you get the power,
then you get the ladies. But I do want to
kind of go back to the core roots of financial Fridays.
Speaker 2 (02:55):
I just don't want to make it boring.
Speaker 1 (02:57):
So I want to try to bring on guests and
speakers and on entrepreneurs like my friend Donne Palmore. Now,
you guys, before I introduce her officially, you guys got
to understand that she's an expert money coach, owner and
founder of your Money on Purpose Coaching. She's also got
a little side hustled that's becoming pretty big. In fact,
that's how we met, which is called White Oak Craft Barbecue.
As you guys know, I don't bring on any financial advisors,
(03:19):
anybody kind of affiliated with Wall Street because as much
shit as I talk on Wall Street, but more importantly,
I just think that there's enough of that noise out there.
Speaker 2 (03:27):
I like to people.
Speaker 1 (03:28):
I like to bring on guests that are thinking a
little bit more outside the box when they're asking you
to teach you and coach you on money. So it's
my pleasure to bring on miss Donnette Palmore.
Speaker 5 (03:38):
Awesome, thank you so much, awesome to be here.
Speaker 1 (03:42):
As you can tell, we have a pack studio audience
minus one hundred. No, you know, this was an impromptu
show today. We were originally trying to do a content show.
But as luck would have it, we're actually going to
be at the same event tomorrow. I am seeing that
your White Oak business is yes.
Speaker 5 (04:00):
We'll be catering it and I'll actually be speaking there
as well.
Speaker 1 (04:03):
Oh no, kidding, excellent, Well, this is turning out to
be a lot more in common than we thought. And honestly, guys,
true story, because I don't bullshit you guys, is today
she was in here meeting with Taylor and Gemma, who
you guys know from the Taylor Armstrong Show. They shoot
their show here in the studio as well, and obviously
any friend of theirs is a friend of ours. So
I knew you're gonna be at the event tomorrow and
(04:23):
I wanted to kind of help promote your side hustle.
But once we started talking about your bio, turns out
you got this expert coaching and first question I asked
you is, well, what's your credentials?
Speaker 2 (04:32):
What do you do? And you said, well, shit, I
actually did business.
Speaker 1 (04:34):
I've had multiple businesses, we own multiple different verticals, et cetera.
So well, that's the topic, guests, that I want to
bring up. So welcome to Michelle.
Speaker 5 (04:41):
Thank you, I appreciate it.
Speaker 1 (04:43):
Yeah, So tell me about your journey of entrepreneurship. How'd
you get to where you're at and what are you
doing now?
Speaker 5 (04:47):
Yeah, So it started about I would say even more
than twenty three years ago. I started out with like,
not even knowing I was an entrepreneur. I was a
stay at home mom for twenty years. I homeschooled my
kids and I helped my husband run or small business.
But before that, I started doing, like you know, selling
tupware and avon and things like that. Had no idea
where it was going to lead me or even what
(05:08):
that was about, just trying to make some extra money, right, entrepreneurship.
We started a business it was appraisals for car damage,
and that just like grew and grew. We've bought in
a couple of body shops. One of our partners took
all the money right before Christmas time and left us
with nothing. And then we had a body shop out
(05:31):
in Hysperia doing just r V work, which was very good,
very good money.
Speaker 2 (05:37):
But then you didn't trust the wrong person this time.
Speaker 5 (05:39):
No, it was actually my husband and one of our
good friends that was doing it. So we yeah, we
didn't trust the wrong person, right, and it just like
it grew into this huge business. We had originally partnered
with someone. We broke off to do our own thing.
I was helping with the books, doing the accounting. I
turned into managing doing some of the HR stuff and
(06:00):
that business. Actually, I think it's been like eight years.
They changed the industry here in California and we went
from forty thousand dollars a month to five thousand dollars
a month in about six months.
Speaker 2 (06:12):
Like it was simply because of the legislative changes.
Speaker 5 (06:16):
I know, the insurance companies brought in their own in
house appraisers and just wiped us out. And I was
just like, what are we going to do? Like this
is crazy? And my husband actually took a job right
down the street right before all this started happening. And
what year it was like eight years ago? Yeah, I
don't know what year that was.
Speaker 1 (06:35):
It was relatively yeah, I stopped counting in years now.
It's like pre trauma post trauma. Like I'm like Jesus,
I have defining modes eighty.
Speaker 5 (06:45):
You got to make up your own urb. So he
took a job and I didn't really understand the time
why he was taking that job, but I just started
paying off all kinds of debt and I was like,
we don't need that money, We'll just start paying off debt.
But then our business started going down. My mother in
law was dying of cancer, my husband was checked out,
we were closing this business down, my secretary was quitting.
(07:06):
Like all this stuff started.
Speaker 1 (07:07):
And when you say your husband, you didn't understand why
he was taken, that was he kind of shielding you
from the.
Speaker 5 (07:13):
TI He didn't know either. It was just like an
act of God, like he.
Speaker 1 (07:16):
Just got a sixth sense that I need to kind
of have a diversification of my income exactly.
Speaker 5 (07:21):
And it really helped us to get through a really
hard time because I was pretty much going through it
by myself so that he could just be with his
mom and deal with that. But because I had gotten
our finances in order before that, I didn't go through
it with like a piece, but I but I did,
like I was like, Okay, I know where all my
money's going. I know that we have these bills, like
(07:42):
they're paid off. We had like one debt left, which
was our solar panels of all things. But it just
made the transition so much easier, and just it sucked
I mean, I'm not gonna lie right, life sucks, but
just having that in order, it was one less thing
I had to worry about.
Speaker 1 (08:00):
And so the job that he took did that kind
of pivot you guys into what you're doing now, or
talk to me about You talked about the downside, now
give me the upside. How did then you kind of
stumble upon, you know, the main hustle, the side hustles,
and these different verticals of income and the coaching.
Speaker 5 (08:17):
So while I was getting my money right, I was like,
I have to share this with other people, Like I
need to open a business to be able to help
other people because I know a lot of people are
going through this. I think the statistics are like eighty
it's probably eighty five percent now that people are living
paycheck to paycheck, and four out of five six figure
income earners are living paycheck to paycheck. So it's pretty bad.
(08:38):
And we know inflation is like outrageous and.
Speaker 1 (08:41):
And you know, and what she said, some of you
guys who don't make six figures a year may think, oh,
that's just you know, if I was making that, to
be honest with you, the circles that I ran in, right,
ten million, twelve million, and fifty million dollar houses your
entire Newport coast. The statistics are actually almost that most
of these guys that you would call a multimillionaires and
the Ferraris and the Lambos and all that, they're also
(09:04):
living kind of deal. It's not necessarily paycheck to paycheck,
but it's deal the deal, right, They got hundreds of
thousands in debt, they got one hundreds thousands dollars of expenses, mortgages, rents,
et cetera. So all it takes is that one deal
to keep them scrambling. And you know, I briefly told
you my backstory, but Orange County, California, where we live,
is the Ponzi scheme capital of the world. There's more
(09:25):
Ponzi schemes that are started in Orange County than in
any other county.
Speaker 2 (09:28):
In the world. And it's mainly because of that.
Speaker 1 (09:30):
There's and they also say that ninety percent of those
didn't start off as Ponzi's.
Speaker 2 (09:34):
It's people kind of got into rut.
Speaker 1 (09:36):
They started off as hitty real estate deals that went
on here and the economy changed or were kind of scrambling.
They've taken on too much debt, unsecure debt and that's
how the snowballs started. So it's it's it's it's an
interesting statistic, but I think we understand.
Speaker 2 (09:50):
But I think a lot of young entrepreneurs, Oh, I
would never make passes story.
Speaker 4 (09:54):
You know.
Speaker 1 (09:54):
I can't even imagine making in orton or half to
own part year until you get there.
Speaker 2 (09:59):
And I don't if jay Z said, I've got more money,
more problem.
Speaker 6 (10:02):
But as long as you have the right fools, it
doesn't happen to be your problem.
Speaker 1 (10:05):
Right right, Well, listen, we're gonna take a break. I
have a feeling this is gonna look get a little
bit more exciting. I want to give you guys actually
tools to make sure that this doesn't happen to you.
So when we get back, I'm gonna find out a
little bit more about what this expert coaching is all about.
We'll be right back here Financial Fridays on iHeart Radio.
Speaker 3 (10:21):
We'll be right back with the Financial Friday five on
Cannabis Talk one on one's Financial Fridays with the Insider
Investor Tony K. Welcome back to Cannabis Talk one on
one's Financial Fridays with the Insider Investor Tony K. It's
(10:42):
now time for the Financial Friday five you.
Speaker 1 (10:45):
Guys, Master Mentors Live. You hear me talk about it
all the time. You see me out on the road
on my Instagram. Well, we're coming to city in town
near you. Master Mentors Live.
Speaker 2 (10:54):
What is it? Listen up. Here's what we do. We
go out to the States.
Speaker 1 (10:56):
We offer free ninety minute workshops to teach you how
to be the next canipreneur.
Speaker 2 (11:01):
It's the hottest, fastest.
Speaker 1 (11:02):
Growing industry right now, soon to be a multi trillion
dollar industry. And it's not just about being a grower
owning a dispensary, which we can help you get license
to do that as well, but there's a thousand different
ancillary businesses that support that industry. We're talking about HVAC design, packaging,
what we do, a media company, publications, podcasting, you name it.
Speaker 2 (11:23):
There's an opportunity in there.
Speaker 1 (11:24):
If you want to learn more about how to diverse
fire income, check out our upcoming Master Mentors Live events.
I'm now back here with ms Palmore and she coined
herself as the expert money coach and con founder of
your Money on Purpose Coaching, which is also trademark which
I love.
Speaker 2 (11:41):
So you learned that lesson hard way.
Speaker 1 (11:44):
So give me a little bit. Okay, so I'm gonna
play Devil's advocate here. You had a couple of successful businesses,
you had a fall down. Was it you taking little
bits and pieces of things that made you valuable or
did you kind of look at other systems, products services?
Give me a little bit of understanding of how the
coaching program works.
Speaker 5 (12:04):
Yeah. So I took my experience and I've taken some classes.
I've taken some courses, but really it's when you get
into the room with people, like what is it that
they really want? Because a lot of money coaches or
financial coaches have a cookie cutter system.
Speaker 2 (12:22):
They want to that to.
Speaker 5 (12:24):
Do you know, baby steps, or they want you to
do this and they want you to do that. But
that doesn't work for everybody. It doesn't work for most people.
Most people, especially here in southern California, we want to
spend money, We want to have fun.
Speaker 2 (12:35):
Right, yeah, sometimes too much?
Speaker 5 (12:40):
So how can we do all those things? And we
value those things? You know, those are important for us
to go out to network or to have events or
whatever it is. So how can I help people to
I say, do all the things? How can we pay
our bills, invest in our future, and do what is
important to us right now.
Speaker 1 (12:57):
And so when they hire you on as a coach,
is this kind of like building out a one to
three year roadmap. Obviously you don't offer investments because you're
not licensed, which, guys, by the way, the reason I'm
asking these questions is you guys have kind of preached.
I mean, I think financial advisors play a great role.
But what she said is exactly true, and there's a
lot of great financial advisors out there. I still I
(13:18):
was just on the phone with the buddy of mine
that we actually got licensed together and we owned a
firm together part time. But the reality is is that
every single top firm out there, Morgan Stanley, Goldmen Sacks, Merrill,
Lynch Ubs, and out of those names, I've worked at
three out of four, all of those have cookie cutter
products that they package up together. They get all the fees,
they get all the dog and pony shows, they get
(13:40):
the trips to Bora Bora and can Kun and Aruba,
all places that Ferbs took me to to then that
those trips are sponsored by these mutual fund companies and
they pay the nut we go out there we get
wined and dined and trips for free.
Speaker 2 (13:54):
When we come back, we're encouraged to sell those products.
Speaker 1 (13:56):
Now, our commissions aren't tied to those because that would
be illegal. However, it's like, hey, you get free Britney
Spears front road tickets back when you gave a shit
about Britney Spears, or at least your girlfriend did, right,
And so there was, you know, somewhat pressure, There was accolades,
there was hey, you'll get the corner office. So they
kind of got around those. But the reality was that
all the products on Wall Street. This is a statistic
(14:19):
I'm not making up. If you google right now, what
is the average money manager on Wall Street make for
their investors. The average rate of return is less than
seven percent, somewhere between six to eight percent net of fees.
Speaker 2 (14:31):
So that means that if.
Speaker 1 (14:32):
You trust your hard earned money with them, after all
the ups and downs, you're lucky if you make less
than ten percent, but at least come out positive. And
when you see that stat and when you understand what
these guys are up against, it's not their fault. Now,
there are crummy advisors out there that chase, chase high
commissioned products but overall, the advisors aren't given all the tools.
That's why I ended up going independent. But even in
the independent world, you're still limited on the offerings.
Speaker 2 (14:54):
And there's a.
Speaker 1 (14:55):
Handful of people out there that aren't looking to sell
you products, but they're looking to actually what they know.
And those are the kind of entrepreneurs and coaches and
people that I kind of want to subscribe to because
sometimes you can take a nugget that this person teaches
you and you can really get real life advice. Right,
So is your primary student if you will, or a client?
(15:17):
Are they kind of entrepreneurs struggling? Are there people trying
to get out of debt? Are there multimillionaires who want
to look for diversification? Kind of give me an understanding
what the clients.
Speaker 5 (15:26):
Dook like things, all the things. So most of my
clients are entrepreneurs. They're women who have businesses. I say,
they make great money, but they don't know where their
money's going. Yeah, and that's frustrating. It brings a lot of,
you know, stress, and so how can I help them
gain clarity, control and confidence with their money? And so
that's what we do. We sit down and we come
(15:47):
up with where is their money going. That's the first thing, right,
We got to look at those bank statements and find
out what what are we doing?
Speaker 2 (15:57):
Uh?
Speaker 5 (15:57):
And then we come up with a plan. And I
don't do a budge. I don't like that word. We
don't use it. We use spending plan because we're making
a plan with our money. We get to tell our
money where to go and figure out how can we
do the things that we want to do. Do we
have to make more money? Do we have to make
some choices on how we're spending our money? Like, we
get to make those choices. It gives us our power
back to look at that way, to look at it
(16:18):
that way.
Speaker 2 (16:19):
Now, what tools do you use?
Speaker 1 (16:21):
If somebody so most people have a problem with managing
their spending, I would say, right, that's at least when
I was in my console.
Speaker 2 (16:28):
So that's what I hasn't changed. That part has changed.
I've been away for seven years, but that hasn't changed.
Speaker 1 (16:34):
And to your point, I quickly figured out the guy
that makes five million a year or fifty thousand a year,
they all kind of have the same problem. Is their
allocation of resources worrey spending it. But let's say you
get somebody and now they're making better decisions. But they
have piles of cash, and now you need to advise
him on where to deployment. How do you make those
decisions and what do you do on that regards?
Speaker 5 (16:56):
Well, that depends on what their goals are.
Speaker 2 (16:58):
Right.
Speaker 5 (16:58):
If they want to make you buy a piece of property,
you put them in touch with a real estate agent.
If they want to invest it, you put them in
touch with a financial advisor. You know, you just kind
of I sublet all that stuff out.
Speaker 2 (17:10):
I trusted resources.
Speaker 5 (17:12):
I have trusted resources. Who can I send them to
if they don't already have someone because I don't want
to step on anybody's toes or ruined relationships. But who
can I send them to that can help them do
the right things with the money?
Speaker 2 (17:23):
That's awesome.
Speaker 1 (17:23):
Yeah, I think that's a huge value. Add guys and
I and you know I, I was just sharing this
with you. It took me kind of leaving Wall Street
to hire my first paid coach, and now I probably
have three or four of them. I have a health
and witness coach I got. I still have a business coach.
I have a legal coach forgot that. But it's important
(17:44):
to have those and you guys hear us talk about
this obviously the drop we just did with Master Mentors,
another coaching program that we've started to help young candid
canipreneurs as we call them. But every successful and when
I say successful, I'm talking about guys that make over
a million dollars a year take home. Every single one
of them has no less than three coaches. And most
people that don't have money look at us. Why would
(18:06):
I pay for a coach? Why would you pay for
a business coach? Why would you pay for a personal coach?
Why would you know? What are their designations? And you know,
I'm sure you get that a lot too. And in fact,
one of my buddies when I got into this, well,
he's like, well, you just you know, walked away from
Wall Street, you went through this huge scandal. Why would
anybody pay you to be on your show or how
you know? And there's so many people that think that
(18:28):
designations or a brand representable. You're not with Morgan Stanley,
you're not with the top firm. But it's those guys
that are struggling the hardest. And it's those guys that
are kind of pre programmed into only offering well, no,
you got to buy this annuity or you got to
buy this mutual fund. And it's it's a shame because
I think there's a lot more opportunities out there for
people if they really just start thinking outside the box.
Speaker 2 (18:48):
And that was the whole premise of the show. So
I'm glad you came on today, but.
Speaker 1 (18:52):
Before we let you leave, I think it help the
audience if we put you through the Financial Friday five.
These are five questions that we ask every guest. Just
give me the answer straight off the top of your head.
They're not zingers, they're just kind of a lot of
times these questions elicit advice that the audience can take
and we can kind of convert it into take home
little nuggets. And that's what I always tell the audience
is sometimes you can just take one little piece of
advice from every single show. You'd be surprised at how
(19:15):
valuable that makes you. And I hope the show brings
a little bit of nuggets for you because unlike my
politics show, I'm bringing on financialvice.
Speaker 2 (19:21):
This is named directly it a hater that I got every.
Speaker 1 (19:24):
Nastages, all right, So number one on the Financial Fighting
five is what was the best investment you ever made.
Speaker 5 (19:32):
My best investment, I think, is just investing in personal development,
making sure that I take classes, I learned skills, I
get coaches and make myself help me to become the
best version of me.
Speaker 1 (19:47):
Funny she said that, because if you guys have listened
to at least half of the past fifty two shows
the successful people that I bring on again, the people
that are qualified to give money advice nine times out
of that's their advice is personal development.
Speaker 2 (20:03):
Myself, they'll say.
Speaker 1 (20:05):
But the reason they can say myself because they did
pay somebody to become the best version of themselves. And
that phrase becoming the best version of yourself. I guarantee,
not knowing this that she got it from a personal
development either guru, a book, or being around somebody that
has that in their vernacular. Because before I joined my
personal coaching program and then hired the gentleman to be
my personal coach, and he charges, by the way, guys now,
(20:28):
and it's no joke. He charts one hundred and fifty
thousand dollars to coach with them per year. And at
the time people told me I was crazy because I
was paying them five thousand dollars a month, which you
know is six still sixty thousand a year, and when
you're struggling sixty thousand years a lot of men, you
have to pay to go see him every every year,
every month we'd meet up a month in Texas. So yes,
(20:48):
becoming the best version of yourself is definitely the best
investment you ever make. And it goes along with advice
I gave you guys, because I do get dms and messages,
especially when I do more, you know, drops on Instagram
about the market going side, what should I buy?
Speaker 2 (21:00):
What should I invest in? Do believe in bitcoin?
Speaker 1 (21:02):
And my first question is, you know, unless you already
have your shit figured out, you have over one hundred
thousand savings, your business is rocking and rolling, that you
need investing yourself. You don't need to start dabbling in
cryptocurrency and what stock should I buy? And this and that,
because you're going to spend the time following that stuff
instead of following yourself and your investment. So if you
(21:23):
if you're struggling, you're still trying to figure out there's
no stock, there's no crypto coin, there's no dump coin
that's going to get you out of the rut until
you start investing in yourself. And if you've listened to
my story, you know that I'm a testament living proof
of that. Question Number two is what is the worst investment? Now,
this is gonna be into a business or person that
you've ever met.
Speaker 5 (21:41):
Uh, I don't know if there's ever been a worse investment, right,
because everything's a lesson learned.
Speaker 1 (21:48):
How about, because I'm not gonna let you off that,
what was the worst or investment you ever made in
a business or person that costs you the most money.
Speaker 5 (21:58):
That costs me the most money? Well, we went into
business with somebody we were talking earl. Yeah, we went
into business with a partner for a body shop and
right before Christmas he took all the money and ran.
Speaker 1 (22:09):
So, in hindsight, what would you have done different to
kind of not be in that situation?
Speaker 5 (22:16):
Contracts, agreements, knowing the person better.
Speaker 1 (22:21):
Yeah, you know, sometimes guys, you got to go You
got to grow through what you go through. Right, another
phrase from that world, And it's important because sometimes people
ask me, well, do you know how you you're a
financial advisor? How did you let your former partners start
a twenty three million dollar ponzi scheme. You know, aren't
you supposed to be the one that sniffs out. Sometimes
(22:42):
you can do everything in the world. Sometimes you can
have contracts, you can know a person, you can live
with them, you can rock with them for twenty years.
Speaker 2 (22:48):
You can help bury his mom like I did.
Speaker 1 (22:51):
But at the end of the day, poss are going
to be poss right, And there's only so much you
can do. And you can't really blame yourself too often.
Now if that happens, if you're on your eighth marriage,
it's you, not that all right, So the same shit
keeps happening it over and over the mirror, but our
reality coach shit.
Speaker 2 (23:10):
But but no.
Speaker 1 (23:11):
I mean in all honestly, you know, I don't know
any again successful person that hasn't been sued at least
three times that doesn't have a horror story, doesn't have
that story of somebody robbing them, stealing from the next cetera.
Speaker 2 (23:22):
So it's just something you got to grow through.
Speaker 1 (23:24):
You go through and you'll grow out of it and
then you'll be able to say, well, it was still
worth it. In fact, funny story on that when I
lost my personal five million and my client's lost and
all that, my Mom's like, you know, how do you
when she didn't mean it in mean way, but she's like,
how do you even wake up? And just like function
knowing that you just lost you know, everything, close to
five mil. And I said, well, you know, maybe this
(23:45):
is my way of learning a lesson going through this,
so someday I can save five million when I'm about
to make fifty million. And I was just putting it
out the universe at the time, I had no idea
how that was going to happen. But now I feel
like over the past seventy eight years, I've put myself
in that position now to word.
Speaker 2 (24:00):
Now, before I.
Speaker 1 (24:01):
Was trusting everybody I'd asked, you know, I kind of
like assume the best of people. And now I'm still
kind of like that. I'm still easy going, but behind
the scenes, I have an army of people. I want
you to do background check. Once you do a credit check,
that you fall that asshole around and then I'll sit
there and yeah, I mean not just a PI. I
like black Market PI, Dark Web PI is like, yeah,
if I'm gonna trust anybody, And subsequent to that, I
(24:22):
still got screwed over a couple more people. So I
realized as you get into the big money world, there's
always going to be people some of the biggest bawlers
out there.
Speaker 2 (24:29):
School you know took.
Speaker 1 (24:30):
Me to But this time I had the right contracts,
I had the right resources, so they have the assets
so eventually they'll pay. So now it's just my approach
to it has been different. So every you're going to
go through that question number three on the Financial Friday
five is what is the best present you ever bought yourself?
Speaker 5 (24:48):
I ever bought myself This ring right here paid for
your own wedding ring. No, but I wanted an upgrade
and so I got.
Speaker 1 (24:57):
Okay, there we go tooth comes out, So tell me
a little bit about it.
Speaker 2 (25:01):
Five cars, three cares quality.
Speaker 5 (25:04):
So I have my original I have my original ring
on here because I can get it off. Because this
is just a reminder of humble beginnings right where we started.
This is like one hundred dollars, which was a lot
of money for me twenty six years ago. I had
to put on a credit card, somebody else's credit card.
Actually it wasn't even my own, but it just reminds
me of you know, where I've come from, and.
Speaker 2 (25:26):
Now how far I've come, that's really cool. Yeah, very cool.
Speaker 5 (25:30):
So that was the best.
Speaker 2 (25:31):
So you guys have been married now twenty six years. Yeah, yeah, excellent.
Speaker 1 (25:36):
And when you guys first met, so it sounds like
you're both struggling or not really, you know, living and
lavish lifestyle.
Speaker 5 (25:42):
No, no, we were. We were doing okay. And when
I get pregnant, I get very sick, and I get
sick for a long time and I can't do anything.
So I couldn't work.
Speaker 2 (25:53):
This is the whole morning puke thing, or it was
all day puke. I've never gone through this. It was bad. Yeah,
it was so.
Speaker 5 (26:01):
Yeah. I wasn't able to work, and we had one
of our kids in private school, and just one thing
led to another, and yeah, we struggled for a long time.
But you know, we had what we needed. We've always
said what we needed.
Speaker 1 (26:12):
I've realized that, you know, being in California, I think
it's now close to one out of every two marriages
ends up in divorce. And but it's also based on
if you got married before twenty five, it's like fifty percent.
Speaker 2 (26:22):
As you get a little bit.
Speaker 1 (26:23):
Older, if you get married in your forties and fifties,
then it's kind of skewed a little bit different where
it's like thirty percent. But California also happens to be
the divorce capital of the United States. And it's mainly
because I've found that people that started young, if they're
both struggling, and they kind of go through these up
and now as they make it. But it's when you're
mixing the different economic levels and expectations. Well he's got
to go to work and I'm home with the kids
(26:44):
and he's making the millions.
Speaker 2 (26:45):
Well I'm not.
Speaker 1 (26:46):
That's where you kind of see the problems. But when
they're getting married later in life, people have already figured
out that shit, so it tends to work. So a
little fun fact, but I like that president you bought yourself. Now,
follow up question the question before is what's the best
president you ever bought?
Speaker 5 (26:58):
Somebody else talking about this earlier, and I don't know
how to say it, but it's one of those Eulaugerie
books for my husband.
Speaker 2 (27:06):
What does it call?
Speaker 5 (27:07):
How do you say?
Speaker 2 (27:08):
Bourgeois bourdoir?
Speaker 1 (27:10):
You know you arede those photo things that the chicks
do for their husband that board no.
Speaker 5 (27:14):
Yes, yes, And I did that just a couple of
years ago.
Speaker 2 (27:18):
So do you know that, girlfriend?
Speaker 5 (27:23):
I think it was also empowering for myself, you know,
just being forty seven and doing something like that.
Speaker 2 (27:29):
Now do you guys hang that in the bedroom.
Speaker 5 (27:31):
It's just a little book for him. It's just for him.
Speaker 2 (27:33):
Very cool, very his wedding ring too, ring he lost
one hundred dollars wedding ring. Yes, all right, So what
does he walk around with? Nothing? He doesn't know.
Speaker 5 (27:47):
He doesn't have anything because he he can scratch cars
and stuff with it because he works in a body shop.
Speaker 2 (27:52):
So that makes sense. Good excuse Phil, He has an out.
Speaker 1 (27:58):
That's like I had taken off to wash my heads.
Speaker 2 (28:02):
All right, guys.
Speaker 1 (28:02):
Final question on the Financial Friday five is if you
could buy one thing and money is not an object,
what would that be?
Speaker 2 (28:09):
Oh my god, And the answer cannot be I want
to buy more wishes.
Speaker 5 (28:12):
No, I don't want to buy more wishes. I think
it would be to buy what I want, which is
to have a house for women who have been abandoned
by their husbands.
Speaker 2 (28:20):
Oh, excellent, like a little shelter.
Speaker 5 (28:22):
Yeah.
Speaker 1 (28:23):
Are you are you doing anything to kind of make
that a reality? Starting nonprofit planning the seeds?
Speaker 5 (28:29):
That is what I'm I'm thinking about starting a nonprofit.
I'm actually working with a nonprofit profit right now out
in North Carolina, so I help there are homeless people
who are being brought in by the mission, and then
I teach them how to manage your finances, so kind
of learning the workings of their mind and what's going
on in the workings of a nonprofit so that I
can start opening my own and start getting that well, let's.
Speaker 1 (28:51):
Put that out there in the universe. I've found that
when I do do that, and I do it on
a public format like this, it tends to kind of materialize.
So if there's anything I can do to help with that,
be more than happy to. I think it's a very
valid needing concern. In fact, I think that's one of
the biggest problems is financial literacy. You know, I harp
about it all the time right now, but even through
college and high school, all the crap we learned and
(29:14):
paid for and leaving college with six figures in debt,
you don't learn about foreclosure processes. You don't learn how
to buy first trusteeds, you don't learn how to repair
your credit, you don't learn any of the things that
can actually help you make money, not ruin money.
Speaker 2 (29:25):
No classes on that.
Speaker 1 (29:26):
But you know, the forty fifth president in Nicaragua was
on a test or whatever.
Speaker 5 (29:30):
Right, So make things that don't matter.
Speaker 2 (29:32):
Things that don't matter.
Speaker 1 (29:33):
And I mean, I guess it matters if you want
to study, you know, international presidency law. But that's why
I kind of tell kids now, especially this generation, to
where you know the schools will give you hundreds of
thousands of dollars in loans. You want to go back to school,
still give you loans. All right, you graduated, you need
a business loan. Sorry, you don't have experience, you don't
have this, you don't have that. So but let's still
give you credit cards on the first day of freshman year.
(29:55):
So it's unfortunate that the school systems in the United
States are completely broken. Of course, there's value in it
if you're going to be a dentist, lawyer, doctor, attorney.
But you know these kids that go with and I
keep picking on this term, but I got a sociology degree.
Speaker 2 (30:10):
Cool, all right, yeah, what are you gonna do with it? Exactly?
Because I can't think of a single job that that
you know is the deciphering criteria. But I encourage people.
Speaker 1 (30:20):
You know, look at look at alternatives, look at just
trying to you know, first figure out what.
Speaker 2 (30:24):
You want to do.
Speaker 1 (30:24):
Learn entrepreneurship, hire mentors, and quite frankly, you know if
you don't have that mindset, and school sucks for you. Attorneys, plumbers,
electricians all are making six figures and multiple steaks right now.
Speaker 2 (30:36):
If there's a shortage of them, we'll.
Speaker 1 (30:38):
Be continuing shortage of them because AI is not going
to fix that.
Speaker 2 (30:41):
All these other industries.
Speaker 1 (30:42):
AI is going to take over, and so if you
are struggling, I do not think schools answer anymore, guys.
Speaker 2 (30:48):
And I think there's.
Speaker 1 (30:49):
Different types of schools that you go to that don't
come with a fabricated degree run by a corporate.
Speaker 2 (30:54):
Sorry, it's got to try to make that back trade.
Speaker 1 (30:56):
Back absolutely all right, guys, we're gonna take quick break.
When we come back, I'd like to hear a little
bit more about how you guys can find.
Speaker 2 (31:04):
Out how to tap into her system. We'll be right
back here on Financial Life.
Speaker 3 (31:07):
We'll be right back with more financial Fridays with the
Inside Investor Tony K. Make sure you follow Tony at
the Insider Investor. Welcome back to Cannabis Talk one on
one's Financial Fridays with the Inside Investor Tony Ka. Make
(31:29):
sure you like, follow and subscribe to the show.
Speaker 2 (31:31):
Now.
Speaker 1 (31:32):
Oh guys, if you get yourself caught up and you're
looking for an attorney, please consider mister Freddie Sage. He's
our personal attorney here at c T one to one.
He's become a good friend of ours. This dude handles everything, man.
He's become an expert in cannabis law. He speaks all
over the United States. In fact, he speaks at our
master Mentor's live events. He's also an entertainment attorney from
a defense attorney. He's also got ties into many other
(31:53):
legalities that you may need to But he's somebody that
I trust, which is a hard thing to say about
my fellow attorneys, right, but.
Speaker 2 (31:58):
This is a good dude. Guys, give them a call.
It's three one oh eight seven seven five.
Speaker 1 (32:01):
Zero three three again three one eight seven seven five
zero three three, Or go to this website. It's the
Foxfirm dot com. That's what two x's are the fix.
We're now back here on Financial Fridays, guys.
Speaker 6 (32:12):
Before we took this last break, I asked her about
this money coaching program that she has, and I think
I haven't been bringing that on the show a lot
because it's hard for me to kind of recommend anybody
else in the money game, especially when it comes to investments,
and the fact that she doesn't have a product to
sell you. She doesn't have a cookie cutter box ops
(32:32):
a way. She's not selling you amway or coaching in
a box. She's literally just giving you her life experiences
and showing you the trials and tribulations so you can
learn her from her mistake. Plus, it looks like we
have an opportunity to kind of get your finances at order. Uh,
you've heard me kind of talk about not just the
political environment, but the direction that this country's taken. I
do think at some point we're going to have this
other black Swan event, which is just another thing that
(32:54):
you never expected to happen that I think it will
really shock the system. So I keep saying, get your
money in order to house in order, and I think
somebody like this could really help you out. So if
I'm a new client and I just hurt watch this
and I'm like, hey, I want I want to check
this out, what can I expect what's the price.
Speaker 2 (33:09):
Points, what kind of commitment is that, and what do
you need from me?
Speaker 5 (33:12):
Yeah, so I start everybody on foundational coaching, So we
got to heil the onion back, as you said, and
really get to the basics, where's your money going, what
is it doing, where do you want it to go?
And really building out your plan, working on your mindset,
your behaviors. It's it's a process. So for personal coaching,
(33:33):
ninety days, it's twelve ninety seven. I also do business coaching,
so business is twenty four ninety seven, so ninety days.
And then we move into what I call accountability and growth,
and it's just continuing the work that we started because
we still need accountability, right.
Speaker 1 (33:47):
And then the accountability is weekly coaching calls monthly or
as I have needs and problems, I kind of address
them with you or how does that work?
Speaker 5 (33:55):
So it's usually about two times a month. It depends
on what the client needs. Eventually work them into like
once a quarter that would be great, right, And you
don't want them to be having to talk to you
all the time. You want to empower them to be
able to make those decisions themselves.
Speaker 1 (34:08):
You mean, you don't just try to stream people along
for forty years to take their money.
Speaker 5 (34:11):
No, I wouldn't be a good.
Speaker 1 (34:16):
Yeah, there was this joke in the coaching community that
you need to coach them on how they need you
right keep paying every month? But right, yeah, it's it's
you know, the whole coaching world that I got involved with,
there's so many bad ones that kind of just like
any other industry. Though I used to think it was
just the financial services industry where I would identify like
three guys I'm like, dude, I can't believe these people
(34:36):
would trust this guy with their money. But I realized
as I dabbled in the real estate world, masterminding world,
entertainment world, it's kind of like that. In every industry,
you got some bad apples that give the industry a
bad name, and then quickly that people kind of look
at you, so, oh, are you going to be one
of them? And so I think, I think the best
thing you can do is just be authentic, be yourself,
and people kind of resonate that before we take off,
(34:57):
give me a give the audience a little bit of
info on how they can get a hold of you,
or your Instagram, your website.
Speaker 5 (35:03):
Yeah, you can find me on all the places at
your Money on Purpose dot Com, Instagram, TikTok, LinkedIn, Facebook.
Speaker 2 (35:09):
Your Money on Purpose.
Speaker 5 (35:10):
Your Money on Purpose. My website is your Money on
Purpose dot com. And then I also have a podcast
it's actually your Business on Purpose because it's all about business.
Speaker 2 (35:20):
Actually, how many episodes you got there? Now?
Speaker 5 (35:23):
I am over one hundred. I definitely know the exact number,
but we're over one hundred.
Speaker 2 (35:27):
Now. You're in the top three percent of all podcasters.
Speaker 6 (35:29):
I know.
Speaker 1 (35:30):
That not a fascinating statistic. Actually it's ninety percent of all podcasts.
They'll make it past ten episodes.
Speaker 2 (35:36):
I know.
Speaker 1 (35:36):
It's so weird nice and it just tells you how
many people start things that don't that never finish. And
I think that's why there's so much room for opportunities
out there, because people always think like, oh, it's too
late to get into that. People aren't doing things the
right way. A lot of people may be getting into
a certain business or industry, but it doesn't mean they've
mastered it. So congratulations to you. And I mean one
hundred episodes of snow Joke. And how long ago did
you start?
Speaker 5 (35:58):
It's been over a year or so. I put an
episode out every.
Speaker 1 (36:01):
Week, so okay, yeah, that makes sense. So every week
you're looking at about forty episodes. So you've been doing
it for two years or you had that Missus money
coach over a year.
Speaker 2 (36:19):
Yeah, no, I'm just teasy.
Speaker 1 (36:20):
Yeah, before we leave, is there any other events or
any kind of events you want to promo?
Speaker 2 (36:25):
Other speaking gigs you have? Yeah?
Speaker 5 (36:28):
So, well, tomorrow will be at Divina's events. So that's
going to be an awesome event. And if you guys
don't make it, make sure you get on her list
for the next event, which I think she's having in October.
I'll actually be having our food there, so I also
have a catering company. We'll be featuring my husband's amazing
Texas style barbecue.
Speaker 1 (36:46):
I'm from Texas and I'm a big barbecue freak, so
that check better cash, and I'll be honest it will.
I like Texas barbecue because it's not overly sugary. I
feel like California and some of these other barbecues just
put a shit ten of sugar in it.
Speaker 2 (36:58):
So I do like Texas barbecue.
Speaker 5 (37:00):
As they don't know how they're doing.
Speaker 1 (37:04):
How can they find out about the barbecue and hiring
you for pop up events and.
Speaker 5 (37:08):
Carrie, Yeah, so we're on Instagram at white Oak Craft Barbecue.
So white Oak Kraft Barbecue on Instagram. That's the only
place you can find us.
Speaker 1 (37:18):
And you guys, she mentioned Divina's event. I know you
may you may have seen this online etcter. This one
was I think more of a private industry only event.
But she's really looking at expanding that. It's going to
be a great networking opportunity in southern California. Shoot me
a DM, shoot her DM. I'll get you on the
list for the next event. I think it's something that
it's always valuable when you can kind of be a
part of a network. They say your net worth is
(37:40):
your network, right, and you you know, the more good
people you have, you the bigger your rolodex is.
Speaker 2 (37:46):
As you expand and you pivot and you have to
look at multiple streets of income.
Speaker 1 (37:49):
You'll never know when having another person.
Speaker 2 (37:51):
In your group will help you expand on that.
Speaker 1 (37:54):
So with that said, I want to thank you for
coming on the show. I'll take an invite to be
on your show anytime because now I'm excited.
Speaker 2 (38:00):
This is one hundred plus episodes.
Speaker 1 (38:04):
I think I just barely hit my one hundredth episode
after all the shows, but we only do a show
once a week or every Friday basically for the past.
Speaker 2 (38:11):
Trip, So congratulations again on that. Looking forward to facing
your food tomorrow.
Speaker 1 (38:16):
And you guys, I want to thank you for listening
to Finance Fridays here on CQ one on one. I'm
Tony Ka and you can always find me on Instagram
at the Insider Investor.
Speaker 2 (38:23):
Remember, keep that wallet tight, keep your mind right. I'll
see you next Friday on Financial Friday. Until next time,
I'm out.
Speaker 3 (38:30):
Thank you for listening to Financial Fridays with the Insider
Investor Tony Kay on Cannabis Talk one oh one, the
world's number one source for everything cannabis.
Hosts And Creators
Joe Grande
Marc Wasserman
Craig Wasserman
Christopher Wright (Blue)
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.