# Info You Can Use: Helping the black community become financially independent and build generational wealth.

An episode of [Money Making Conversations Master Class](https://invisiblenetwork.ai/podcast/1264705641), 12 Mar 2025, 25 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/b1db7263-d1a3-4d00-8976-af62012aab44/e9fdbf6e-dbda-49e8-8687-b2910107567b/audio.mp3?utm_source=Podcast&in_playlist=35a10561-3e1b-4d05-a529-af62012aab6a

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Carter Cofield. He is the co-founder of Melanin Money, and also a CPA who empowers individuals to achieve financial freedom. He is recognized as one of the top CPS for millennials showing them how to live tax free. Carter's mission is to help the black community become financially independent and build generational wealth. Company Description * We help people build wealth so they can live the life they always dreamed of. We have curriculum, community, and coaching designed to help you level up your wealth. Make More Money, Manage Your Finances, and Maximize Your Money Through Investing. Our theory is that not having your finances together can literally impact your health. One of the leading causes of death is heart disease. One of the leading causes of heart disease is stress. One of the leading causes of stress is money. Money can't buy happiness, but it buys you options, freedom, and choices. So it's fair to say that it's a good down payment. We want you to stop stressing about money and be the wealth starter for your family. #BEST #STRAW #SHMS Money Making Conversations Master Class with Rushion McDonald is America's premier entrepreneurship, business leadership, financial literacy, and wealth-building podcast featuring successful entrepreneurs, executives, founders, celebrities, and industry experts sharing actionable insights for professional and financial success. Business Podcast Entrepreneurship Small Business Business Growth Financial Literacy Wealth Building Black Entrepreneurs Minority Business Leadership Executive Leadership Business Funding Marketing Strategies Personal Development Startup Advice Sales Training CEO Interviews Founder Stories Professional Development Economic Empowerment Business Success Networking Brand Building Innovation How to start a business Small business funding Entrepreneur success stories Business leadership podcast Wealth building strategies Black entrepreneur podcast Minority business development Marketing for small businesses Business growth strategies Startup funding opportunities Executive leadership training Financial literacy education Success mindset podcast See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Thank you for coming on my listening to my show.
[0:01] Speaker 1: First of all, I am row Shawn McDonald. I host
[0:04] Speaker 1: the weekly Money Making Conversation Masterclass show. The interviews and
[0:07] Speaker 1: information that this show provides are for everyone. It's time
[0:11] Speaker 1: to start reading other people's success stories and start living
[0:14] Speaker 1: your own. If you want to be a guest on
[0:16] Speaker 1: my show, please visit our website, Moneymakingconversations dot com and
[0:21] Speaker 1: click the b a Guest button. Now let's get this
[0:23] Speaker 1: show started. My guest is the co founder of Melanin Money.
[0:28] Speaker 1: Melanon Money, He's gonna correct it if I'm saying is wrong,
[0:31] Speaker 1: and also a CPA who empowers individuals to achieve financial freedom.
[0:36] Speaker 1: He's recognized as one of the top financial planners for
[0:39] Speaker 1: millennials by showing them how to live tax free. His
[0:43] Speaker 1: mission is to help the black community become financially independent
[0:47] Speaker 1: and build generational wealth. Please welcome to Money Making Conversation Masterclass.
[0:52] Speaker 1: Carter Cofield. How you doing, Carter?
[0:56] Speaker 2: Amazing brother. Thank you so much for having me. I'm
[0:58] Speaker 2: excited to be here.
[1:00] Speaker 1: Please announciate the name of your company that you co founded.
[1:04] Speaker 2: Yeah, melon In Money, you said it correctly, Okay, cool?
[1:07] Speaker 1: Now why did you co found that company.
[1:11] Speaker 2: Yeah, so a few reasons. So number one is we
[1:15] Speaker 2: wanted to super serve our community and people that look
[1:18] Speaker 2: like us. Right when I was working in Corporate America,
[1:20] Speaker 2: I was doing taxes for like, well see people in
[1:23] Speaker 2: Fortune five hundred companies, which was cool, but it wasn't fulfilling,
[1:26] Speaker 2: especially as a kid that grew up on the South
[1:28] Speaker 2: Side of Chicago. So I had a friend of mine
[1:32] Speaker 2: who's not my business partner, and he was an amazing
[1:34] Speaker 2: financial advisor and I'm an amazing CPA. And we kept
[1:38] Speaker 2: sending clients back and forth to each other. Like, my
[1:40] Speaker 2: clients save on taxes, they would want to learn how
[1:42] Speaker 2: to invest it. His clients was investing. They want to
[1:44] Speaker 2: learn how to save on taxes. So instead up sending
[1:46] Speaker 2: clients back and forth to each other, we just decided
[1:48] Speaker 2: to come together and come up with a financial services
[1:51] Speaker 2: firm that helps business owner to save on taxes and
[1:54] Speaker 2: invest their money.
[1:55] Speaker 1: Now, now you like, I'm just telling everybody it. He's
[1:58] Speaker 1: like a superstar, y'all. He's like this got He's not
[2:01] Speaker 1: a regular CPA. And I say that in a very complimented,
[2:04] Speaker 1: complimentary manner because I've seen him he's very uh, he's uh,
[2:08] Speaker 1: he's very People gravitate to him. He's very articulate. He's like,
[2:12] Speaker 1: it's a clear understanding of his business model. Why why
[2:17] Speaker 1: why is that happening for you? You know, because your
[2:20] Speaker 1: CPA boring, you know, adding up numbers? How did you
[2:25] Speaker 1: build your brand to become what I see it as
[2:28] Speaker 1: today and promote the success stories of finance of people
[2:33] Speaker 1: who want to make money, because that's what you do.
[2:36] Speaker 2: Yeah. So I had to look myself in the mirror
[2:43] Speaker 2: and have the courage to be authentically myself. Okay, And
[2:49] Speaker 2: it didn't start out that way because I worked in
[2:51] Speaker 2: corporate America and I was told to cut off my
[2:53] Speaker 2: face you of here, I was told to have my tattoos.
[2:55] Speaker 2: I was told to not drive my nice car to
[2:58] Speaker 2: work because it made the other cowork feel uncomfortable because
[3:01] Speaker 2: my car was better than theirs and I was younger
[3:03] Speaker 2: than them. So I dealt with a lot of imposter
[3:06] Speaker 2: syndrome in my early years in my career because I
[3:09] Speaker 2: wasn't allowed to be myself. And I just woke up
[3:15] Speaker 2: one day and said I would rather be hated for
[3:17] Speaker 2: being me than be loved for being someone I'm not,
[3:21] Speaker 2: and I decided to leave my firm and start my
[3:23] Speaker 2: own business and really just be myself. And I am
[3:26] Speaker 2: a really fun, energetic, extroverted extrovert who loves teaching people
[3:33] Speaker 2: about finances and taxes and in a really really boring industry,
[3:38] Speaker 2: I decided to show my personality. And it was scary
[3:42] Speaker 2: at first because you know, people don't really think those
[3:46] Speaker 2: cvah should be funny and cool, and people think the
[3:49] Speaker 2: CVA should be stuffy and wear glasses and look a
[3:51] Speaker 2: certain way. So it was nerve wrecking at first. But
[3:54] Speaker 2: like I said, I would just rather be myself than
[3:56] Speaker 2: have the people who are for me before me, and
[3:58] Speaker 2: they have the people who are not not be You know, I.
[4:01] Speaker 1: Smile when I hear you talk because I know who
[4:04] Speaker 1: you are as an individual. I've seen you, and you're
[4:06] Speaker 1: absolutely correct. I've worked in the corporate space and you
[4:10] Speaker 1: are limited on what you can do. They asked you
[4:12] Speaker 1: to be successful, but you don't want to show your success,
[4:15] Speaker 1: and will you show your success? It gets what the
[4:18] Speaker 1: opportunities for you to be more successful can be stopped,
[4:22] Speaker 1: can be halted. You know, a lot of corporate spaces
[4:26] Speaker 1: don't want you driving a better car than your supervisor.
[4:28] Speaker 1: Supervisor sees that they can stop giving you opportunities or
[4:32] Speaker 1: stop promoting you. That's a difficult space to live in.
[4:36] Speaker 1: But youre courageous enough to look in the mirror without fear,
[4:40] Speaker 1: because fear stops a lot of people. Carter, how did
[4:43] Speaker 1: you make understand that I'm not gonna walk through that fear?
[4:47] Speaker 1: I want my listeners to hear that.
[4:51] Speaker 2: Yeah, well, I believe that you know, you have really
[4:55] Speaker 2: two choices in life. You can make a living or
[4:59] Speaker 2: you can desig life, right, And if you're going to
[5:02] Speaker 2: take the second route and design a life, you have
[5:04] Speaker 2: to understand that you're going to have to do things
[5:06] Speaker 2: that makes you uncomfortable. And one of my favorite definitions
[5:10] Speaker 2: for fear is finally exiting average reality. Right, So that
[5:17] Speaker 2: always replays in the back of my mind. Anytime I'm
[5:19] Speaker 2: about to do something that's scary, I'm like, oh, I'm
[5:21] Speaker 2: scared because I'm finally exiting this average season in my
[5:25] Speaker 2: life and I'm about to go leave extraordinary and inter extraordinary.
[5:29] Speaker 2: I'm about to lead familiar and into phenomenal. So anytime
[5:32] Speaker 2: something gets scary for me, which still happens today, I
[5:36] Speaker 2: just understand that that's the part of growth. And the
[5:39] Speaker 2: scariest thing for is not. The scariest thing is getting
[5:43] Speaker 2: to the end of your life and waking up and
[5:45] Speaker 2: realizing that you never truly live. That's the scariest thing,
[5:49] Speaker 2: you know.
[5:50] Speaker 1: It's really interesting when I was reading your story and
[5:54] Speaker 1: the backstory, We're going to turn to some dark moments
[5:57] Speaker 1: in your life emotionally when you will youth and you
[6:00] Speaker 1: lost your parents, but that laid a foundation for you.
[6:04] Speaker 1: How you looked at money, how you looked at your future.
[6:10] Speaker 1: Talk about those moments if you don't mind sharing it
[6:12] Speaker 1: on my show, Because I think that everybody deals with
[6:16] Speaker 1: sadness or death differently. I know I deal with it differently.
[6:20] Speaker 3: You know.
[6:20] Speaker 1: I tell everybody, if everybody, if I'm alive, I'm gonna
[6:23] Speaker 1: do the eulogy for everybody in my family. I'm gonna
[6:27] Speaker 1: do it despite that tough assignment. I do it. And
[6:30] Speaker 1: I've been unfortunate able to do it for both my
[6:33] Speaker 1: parents and two of my sisters. So I've had depth
[6:38] Speaker 1: in your life at a young age, much younger than mine.
[6:41] Speaker 1: Talks to that experience and how it impacted you and
[6:43] Speaker 1: your family.
[6:46] Speaker 2: Yeah, well, how I look at it now different? How
[6:48] Speaker 2: look at it back then, right, And one thing I,
[6:52] Speaker 2: of course I live by is there is a gift
[6:56] Speaker 2: in all adversity if for a willing to open the package.
[7:01] Speaker 2: So when my parent I all off my parents are
[7:04] Speaker 2: six fourteen and sixteen, it was absolutely devastating, absolutely devastating. However,
[7:10] Speaker 2: because I didn't know how to deal with my emotions,
[7:12] Speaker 2: I buried my self in my students because the only
[7:17] Speaker 2: way that I cannot think about not having my parents
[7:20] Speaker 2: is to put my head in books. So I became
[7:24] Speaker 2: really smart from age sixteen on when I wasn't good
[7:27] Speaker 2: at school before then, but from age sixteen onwards I
[7:31] Speaker 2: became an excellent student because the only way I can
[7:33] Speaker 2: get away from my emotions is to bury myself with
[7:35] Speaker 2: my books. And so what ended up happening for me
[7:38] Speaker 2: as I reflect on it, the gift in that adversity
[7:42] Speaker 2: was I got to grow up at age sixteen. Most
[7:46] Speaker 2: people don't grow up to their twenty one, twenty twenty
[7:48] Speaker 2: three years old. So with the way I look at
[7:50] Speaker 2: it now, I had like a seven or eight year
[7:53] Speaker 2: head start on all of my peers when it came
[7:57] Speaker 2: to being a successful a dough So by the time
[7:59] Speaker 2: I was a co at nineteen, everybody's partying. I'm already like,
[8:03] Speaker 2: I'm focused, you know, right. Yeah, for me, it was
[8:07] Speaker 2: it was like okay, cool, So you know, it really
[8:11] Speaker 2: was tough in the moment, But I always looked for
[8:14] Speaker 2: lessons and that they're like, what was God trying to
[8:17] Speaker 2: teach me? Oh? He was trying to teach me that.
[8:22] Speaker 2: You know, the earlier you start, the better chances you
[8:25] Speaker 2: are being successful. Oh, when you lose your parents at sixteen,
[8:28] Speaker 2: guess what. Guess what, You're not scared to do. You're
[8:30] Speaker 2: not scared to quit your job and start a business
[8:32] Speaker 2: because you already had the worst possible thing happened to
[8:36] Speaker 2: you already, which is losing your parents. Everything else is
[8:40] Speaker 2: table stakes. So my ability to take on risk is
[8:44] Speaker 2: so much higher than most people because I've already lived
[8:48] Speaker 2: the worst case scenario.
[8:51] Speaker 1: Wow.
[8:51] Speaker 2: And so when I approached when I approach life, like
[8:53] Speaker 2: things like, oh, that's risky, but like, nothing's risky than
[8:56] Speaker 2: like losing your parents, So I don't have to go
[8:58] Speaker 2: through that again. So whatever whatever failure that could come
[9:01] Speaker 2: from taking this risk, it's not gonna be worse than
[9:03] Speaker 2: what I've already been through. So I just would encourage
[9:06] Speaker 2: people who have been through parental losses or tough childhood experiences,
[9:12] Speaker 2: like you can't change the experience, right, but you can
[9:16] Speaker 2: change the effect of that experience on your future.
[9:18] Speaker 1: It's really amazing now. When I was reading in the
[9:21] Speaker 1: part about your life and there was this story about
[9:24] Speaker 1: a life insurance and how much it was, I woud
[9:27] Speaker 1: think it was fifteen thousand dollars and it had to
[9:30] Speaker 1: be used. And I don't want to detail out the
[9:32] Speaker 1: story because I want you to share with my autists
[9:34] Speaker 1: from your aunist standpoint, and that's when it really that's
[9:37] Speaker 1: when you first started understanding what a life insurance policy is.
[9:40] Speaker 1: Can you share us with that story?
[9:43] Speaker 2: Yeah. So when my father passed away, he had his
[9:46] Speaker 2: like W two job life insurance, which if you all
[9:49] Speaker 2: don't know the life insurance through it your job is
[9:51] Speaker 2: not a lot of money for it to take care
[9:53] Speaker 2: of your family. So it was a twenty five thousand
[9:55] Speaker 2: dollar life insurance policy. And after his funeral, couse, we
[9:59] Speaker 2: had about fifteen thousand dollars left divide between me, my brother,
[10:03] Speaker 2: and my sister. So that means after our father, who
[10:07] Speaker 2: was the breadwinner of our family is gone, all we
[10:09] Speaker 2: got is five thousand dollars each to figure it out.
[10:13] Speaker 2: And I just remember like that was when my money
[10:19] Speaker 2: learning journey started because I was like, Yo, this five thousand,
[10:23] Speaker 2: This five thousand dollars is my broke, right, Like, I
[10:27] Speaker 2: don't consider broke being at zero. I consider broke being
[10:30] Speaker 2: at this five thousand dollars level because I don't have
[10:33] Speaker 2: a fallback plan. So that was like my first understanding
[10:36] Speaker 2: of what an emergency fund. What emergency fund was. I
[10:38] Speaker 2: didn't know that was a name for it, but I'm like,
[10:40] Speaker 2: this is my last five thousand dollars. I don't like,
[10:43] Speaker 2: if this ever goes to four thousy, eight hundred and something,
[10:46] Speaker 2: I'm beyond broke. So that was kind of my first
[10:49] Speaker 2: financial literacy lesson. And although it wasn't a lot, it's
[10:52] Speaker 2: still was something. And that is just the value of
[10:56] Speaker 2: life insurance because when you're going through a death in
[11:00] Speaker 2: the family, the last thing you wanted, the last thing
[11:04] Speaker 2: you want to have to deal with on top of
[11:06] Speaker 2: that is worrying about paying bills. Death is enough, right,
[11:11] Speaker 2: So the value of life insurance in the way I
[11:13] Speaker 2: see the power of vice assurance now it's so much
[11:16] Speaker 2: more profound because I actually had an experience where the
[11:19] Speaker 2: life insurance proceeds did have a significant effect on my life,
[11:22] Speaker 2: even though it wasn't that much, right.
[11:24] Speaker 1: You know. But the whole thing about your story is
[11:26] Speaker 1: that each each time you talk is about moving forward,
[11:31] Speaker 1: you know. And I never heard the term you know,
[11:34] Speaker 1: just waddled there, you kept you always talk about moving forward,
[11:36] Speaker 1: moving forward, moving forward. And that's key, isn't it. Because
[11:40] Speaker 1: some people they can to just stay there and remain stuck,
[11:44] Speaker 1: as they say in that moment, and they can't. How
[11:47] Speaker 1: do you keep moving forward?
[11:49] Speaker 2: Card I understood that there was other people's other people's
[12:07] Speaker 2: future was tied into my obedience of doing the things
[12:10] Speaker 2: I was put on this plan to do. Okay, And
[12:14] Speaker 2: I feel like as tough as things get, the worst
[12:21] Speaker 2: thing that you can do is let that situation break you.
[12:26] Speaker 2: Because these situations are situations. You have two choices. You
[12:29] Speaker 2: can let the situation break you, or you can allow
[12:31] Speaker 2: the situation to make you right. So if you can't
[12:35] Speaker 2: change the past, the only thing you can change is
[12:39] Speaker 2: the future. So living in the past will not allow
[12:44] Speaker 2: you to change the future. So for me, it was
[12:49] Speaker 2: like I just didn't want to be as statistic and
[12:51] Speaker 2: I'm a control freak, and I don't believe that anybody
[12:54] Speaker 2: has more control of them. That's that's the reality. I'm
[12:56] Speaker 2: a control for I don't I don't believe anything else
[13:00] Speaker 2: have more control over my life than me. So I'm
[13:03] Speaker 2: going to put myself in position to try to change things,
[13:06] Speaker 2: because if I can't change it, then like, what's the
[13:12] Speaker 2: point of it? All right? So for me, it's just
[13:15] Speaker 2: move forward because you can't change the past, right as
[13:18] Speaker 2: you always have the ability to change your future.
[13:20] Speaker 1: Wow. Talking to car to Kolefil, he's recognized as one
[13:22] Speaker 1: of the top financial planners for millennials.
[13:26] Speaker 3: Please don't go anywhere. We'll be right back with more
[13:29] Speaker 3: money Making Conversations Masterclass. Welcome back to the Money Making
[13:39] Speaker 3: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
[13:45] Speaker 3: continues online at Moneymakingconversations dot com and follow money Making
[13:50] Speaker 3: Conversations Masterclass on Facebook, Twitter, and Instagram.
[13:55] Speaker 1: One of his theories is which I enjoyed talking to him,
[13:58] Speaker 1: is that finances, if you don't have it together, can
[14:02] Speaker 1: literally impact your health. How is that, Carter? So I
[14:08] Speaker 1: can make sure my audience don't die because they don't
[14:11] Speaker 1: have their accounts together, or they have bad credit. Help
[14:14] Speaker 1: us out, because this is one of the staples to
[14:16] Speaker 1: how you think and has motivated people to follow you
[14:20] Speaker 1: and invest in your vision to help them out. Talk
[14:23] Speaker 1: to its carter.
[14:25] Speaker 2: Yeah, So I believe that health is wealth and wealth
[14:28] Speaker 2: is health. Right, So if your finances are not in order,
[14:32] Speaker 2: number one, the stress of not having money to do
[14:35] Speaker 2: day to day things obviously can have a huge negative
[14:38] Speaker 2: effect on your day to day health. And they take
[14:43] Speaker 2: it deeper than that, Like a lot of people make
[14:46] Speaker 2: poor health decisions based on poor financial decisions.
[14:49] Speaker 1: That's true, right.
[14:50] Speaker 2: Some people only eat fast food because that's what they
[14:54] Speaker 2: can afford, because to eat healthier food it's more expensive.
[14:58] Speaker 2: So they're literally deteriorating their only asset that they have,
[15:03] Speaker 2: which is their bodies that would be long lasting. They're
[15:06] Speaker 2: they're the depleting their biggest asset because of financial concerns.
[15:11] Speaker 2: So again, as a kid a groupment in the South
[15:13] Speaker 2: touch Chicago, my parents used to order McDonald's all the
[15:17] Speaker 2: time because that's all we could afford, right, And so
[15:20] Speaker 2: some some people literally make their health decisions based on
[15:23] Speaker 2: their wealth standpoint and functionality, which is which is tough
[15:29] Speaker 2: to see Now.
[15:31] Speaker 1: It's really interesting when I when I listen to you
[15:33] Speaker 1: talk the motivation now the award show, I want to
[15:36] Speaker 1: go back to the award show because is he coming
[15:39] Speaker 1: back to Atlanta? First of all, I want to ask
[15:41] Speaker 1: that question.
[15:42] Speaker 2: Yes, it is coming back to Atlanta July eighteenth through
[15:46] Speaker 2: the twentieth, So yes, it is coming to Atlanta.
[15:50] Speaker 1: I would not describe it, but I would tell you
[15:53] Speaker 1: it is fun. They come down the aisle, the music
[15:57] Speaker 1: is blaring him and it's part to George. They'd be
[15:59] Speaker 1: dam answering if people be standing up rocking to them.
[16:02] Speaker 1: They hit that stage, they are the host of the event,
[16:06] Speaker 1: and it's all celebrating success, black success, people of color
[16:11] Speaker 1: success in the financial community. Am I correct when I
[16:15] Speaker 1: say that? Carter?
[16:16] Speaker 2: Absolutely, You're absolutely correct?
[16:19] Speaker 1: And what caused you two? Now I'm only talking to you,
[16:23] Speaker 1: so I'm gonna just say you to come up with
[16:25] Speaker 1: this idea and to grow this vision, which is a
[16:29] Speaker 1: celebration of what you're trying to get people to see.
[16:33] Speaker 1: Make this money, share your success, and then people see
[16:36] Speaker 1: that success and maybe they're motivated to want to be
[16:39] Speaker 1: successful too by operating through the right tools.
[16:42] Speaker 2: Correct, Absolutely, absolutely so. The thesis of the Award Show
[16:48] Speaker 2: is based on the thesis of black culture. Right. We
[16:51] Speaker 2: love being celebrated for our accomplishments, which is why we
[16:56] Speaker 2: buy nice clothes, which is why we buy nice cars,
[16:59] Speaker 2: because we want to say, hey, show people, Hey, I'm successful. Right,
[17:03] Speaker 2: And so what we decided to do was kind of
[17:05] Speaker 2: flip the narrative on its head. Right, instead of being
[17:09] Speaker 2: rewarded or applauded for buying nice things, why don't you
[17:14] Speaker 2: get awarded or applauded for investing in nice things? Right,
[17:18] Speaker 2: Because the problem with investing is wealth is what you
[17:22] Speaker 2: cannot see. You can't see that somebody has a million
[17:25] Speaker 2: dollar IRA, you can't see that somebody has a multi
[17:28] Speaker 2: million dollars for one K. You can't see that somebody
[17:31] Speaker 2: has a forty million dollar like insurance policy. Those things
[17:34] Speaker 2: you can't wear them on a T shirt. Right. So,
[17:37] Speaker 2: all those people are doing the right thing, they rarely
[17:40] Speaker 2: get celebrated for doing the right thing financially. So with
[17:43] Speaker 2: the Award Show, we said we're going to award and
[17:46] Speaker 2: celebrate those people who are doing the right things financially.
[17:50] Speaker 2: So we have awards people hitting it at first, one
[17:52] Speaker 2: hundred thousand dollars in net worth half a million dollars
[17:55] Speaker 2: in networth, million dollars in networth. Our highest client got
[17:58] Speaker 2: awarded last year for having a ten million dollar network,
[18:01] Speaker 2: and she said that was her first time being celebrated
[18:05] Speaker 2: since college. You imagine that you've been doing everything right
[18:09] Speaker 2: you're supposed to do financially, you accumulated a ten million
[18:12] Speaker 2: dollar networth and you have it. The last time you
[18:14] Speaker 2: were celebrated was in college. So the thesis of the
[18:17] Speaker 2: award show came about said, we're going to celebrate people
[18:20] Speaker 2: for building wealth and have this is the biggest celebration
[18:23] Speaker 2: of black wealth that the United States has ever seen.
[18:26] Speaker 1: Well, it shows and that's why I want to make
[18:28] Speaker 1: sure I bring up so month of July. How can
[18:31] Speaker 1: they find out information about the event if they want
[18:33] Speaker 1: to attend and see why I'm so excited why I
[18:37] Speaker 1: have you on this show because of the fact that
[18:39] Speaker 1: I'm gonna let them say where it's going to be at,
[18:41] Speaker 1: and then I'm gonna come back and talk about the
[18:43] Speaker 1: fact that you guys are at an age, a millennial age,
[18:46] Speaker 1: where I was nowhere thinking like that, but shares that
[18:50] Speaker 1: information so we can participate at the event if we
[18:54] Speaker 1: have time in the month of July.
[18:57] Speaker 2: Yeah, if you go to Meloninmoney Awards dot com melton
[19:00] Speaker 2: in Money Awards dot com, you'll see the website where
[19:05] Speaker 2: tickets are available for purchase, or they can justly see
[19:10] Speaker 2: what to see when the warshow was going to be
[19:12] Speaker 2: and yeah, that's it.
[19:14] Speaker 1: Now here's the cool thing about it. You go to
[19:16] Speaker 1: their website. Young people, just young people. Just I'm gonna
[19:19] Speaker 1: tell you something. May I joined the fraternity and makasif
[19:21] Speaker 1: five love. It changed my whole life. But I was
[19:25] Speaker 1: not thinking about investing in the stock market. I wasn't invested.
[19:28] Speaker 1: I wasn't investing in nothing. I may have a savings
[19:31] Speaker 1: account that of trying to pull the money out as
[19:32] Speaker 1: fast as I put it in. What what encourages you
[19:37] Speaker 1: when you see the people surrounding you, card your age
[19:41] Speaker 1: group or maybe a little bit younger, a little bit older,
[19:44] Speaker 1: understanding the value of the stock market and how to
[19:48] Speaker 1: invest money.
[19:52] Speaker 2: It's very empowering to watch my tears and my colleagues
[19:58] Speaker 2: get excited about investing and doing the right things with
[20:03] Speaker 2: their money. Actually had a call with a friend of mine.
[20:07] Speaker 2: He checked his investment account because he hasn't checked it
[20:09] Speaker 2: since I helped him set it up, and he's like, dude,
[20:12] Speaker 2: like he's I opened my account and it said thirty
[20:15] Speaker 2: three thousand dollars and it was green, and so what
[20:17] Speaker 2: does that mean? I said, that means that your money
[20:19] Speaker 2: made you thirty three thousand dollars. He did, Wait, so
[20:22] Speaker 2: you mean to tell me I did nothing in the
[20:25] Speaker 2: past few months and my money made me thirty three
[20:27] Speaker 2: thousand dollars. Absolutely, that is the power of investing. And
[20:31] Speaker 2: one of my favorite quotes to tell new investors is
[20:34] Speaker 2: that it's okay to sleep in late when your money
[20:38] Speaker 2: woke up early. And I love it. As a T
[20:43] Speaker 2: shirt brother, as a T shirt man, I love it.
[20:50] Speaker 2: It's just amazing to see that, you know, people that
[20:54] Speaker 2: look like us are understanding the value of their money,
[20:58] Speaker 2: and I understand the value of making their money work
[21:00] Speaker 2: harder for them than they work for it.
[21:02] Speaker 1: Well, you know, when we talk about money, we talk
[21:04] Speaker 1: about the word. It's a word that gets thrown around
[21:06] Speaker 1: a lot card. If you could really help my audience
[21:08] Speaker 1: out the word generational wealth. I hear a lot of
[21:13] Speaker 1: this show. Can you explain to me, maybe help me out?
[21:16] Speaker 1: I hear it a lot. Nobody explains to me what
[21:18] Speaker 1: it really is and also help out my audience when
[21:20] Speaker 1: people are throwing out around those two words generational wealth.
[21:26] Speaker 2: Yeah, I just think most people don't have the best
[21:28] Speaker 2: definition for generational wealth. They think that leaving money for
[21:32] Speaker 2: their kids is generational wealth. And my definition is your
[21:38] Speaker 2: generational wealth is having your money last for more than
[21:41] Speaker 2: just one generation, right, Like, I don't want to do
[21:44] Speaker 2: all this work and then my kids get to see it,
[21:47] Speaker 2: but then their kids never get to see it, right, right,
[21:50] Speaker 2: So generational wealth is having the wealth that you've accumulated
[21:54] Speaker 2: during your lifetime set your family up for generations and
[21:58] Speaker 2: generations and generations to come so that your great grandkids
[22:02] Speaker 2: they might not never meet you. They're like, yo, I
[22:05] Speaker 2: have this trust set up that when I turn eighteen
[22:07] Speaker 2: to automatically a half a million dollars from my great
[22:11] Speaker 2: great grandfather. I never met him, but he made sure that,
[22:15] Speaker 2: you know, by the time I turned eighteen, I had
[22:17] Speaker 2: an option of paying for college through that or starting
[22:20] Speaker 2: my own business and not needing anybody else's money. So
[22:23] Speaker 2: I believe the generational wealth is having your money last
[22:26] Speaker 2: for multiple generations based off the work that you did
[22:30] Speaker 2: while you're alive.
[22:31] Speaker 1: Ladion Jenlemen, my guess is a superstar. He's a superstar
[22:34] Speaker 1: in this business, a CPA who empowers individual to achieve
[22:38] Speaker 1: financial freedom. Between now and the award show, what are you?
[22:42] Speaker 1: What are you gonna be doing now? Card? Where are
[22:44] Speaker 1: you going? Where you traveling?
[22:45] Speaker 3: Man?
[22:45] Speaker 1: Who are you making rich? Talk to me, bro, talk
[22:48] Speaker 1: to me.
[22:49] Speaker 2: Well, I'm not traveling for a little while, I lived
[22:52] Speaker 2: in other countries. I'm happy to be sitting down. But
[22:55] Speaker 2: one thing that we are doing is we're hosting a
[22:57] Speaker 2: absolutely free class, a money class, everywhere every Wednesday night,
[23:01] Speaker 2: seven o'clive Eastern. Probably write this for the next two months.
[23:05] Speaker 2: And if you simply go to my Instagram page, which
[23:09] Speaker 2: is Cofield Underscore Advisor on all social media platforms, the
[23:14] Speaker 2: link in my bio will take you to the free
[23:16] Speaker 2: class and then you can simply join us. I learn
[23:18] Speaker 2: about money for free on a Wednesday.
[23:20] Speaker 1: So, my brother, I really appreciate, appreciate you taking you know.
[23:24] Speaker 1: I've reached out to you in Chicago. Coach Chicago, So
[23:26] Speaker 1: can you come on with show car you said, I'm
[23:28] Speaker 1: there because you're all a special talent. Brother, and thank
[23:32] Speaker 1: you for allowing me to share your honest story and
[23:35] Speaker 1: continue to grow and I will see you in July.
[23:38] Speaker 2: Okay, yes, sir, thank you for having me brother, have
[23:40] Speaker 2: a great day.
[23:41] Speaker 1: We talked soon again. That's money Making Conversation master Class
[23:45] Speaker 1: and I as we close out another edition of Money
[23:47] Speaker 1: Making Conversation Master Class hosted by me Rashaan McDonald. Thank
[23:51] Speaker 1: you to our guess on the show today and thank
[23:53] Speaker 1: you our listening audience now. If you want to listen
[23:56] Speaker 1: to any episode I want to be a guest on
[23:58] Speaker 1: the show, visit our will website Moneymaking Conversations dot com.
[24:03] Speaker 1: Our social media handle is money Making Conversations. Join us
[24:06] Speaker 1: next week and remember to always lead with your gifts,
[24:09] Speaker 1: Keep winning. This has been another edition of Money Making
[24:13] Speaker 1: Conversation Masterclass posted by me Rashaun McDonald. Thank you to
[24:17] Speaker 1: our guests on the show today and thank you for
[24:19] Speaker 1: listening to audience now.
[24:20] Speaker 4: If you want to listen to any episode I want
[24:22] Speaker 4: to be a guest on the show, visit Moneymaking Conversations
[24:26] Speaker 4: dot com. Our social media handle is money Making Conversation.
[24:30] Speaker 4: Join us next week and remember to always lead with
[24:32] Speaker 4: your gifts.
[24:33] Speaker 1: Keep winning.

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