RACE 2 WEALTH - BENEFITS OF A BUSINESS PARTNERSHIP

[Music] tip [Music] hello this is another production of boss of houston network welcome to our show race to wealth i'm your host vanessa harrison and i'm your host delphine thomas um we're so excited that you are joining us today um for our new listeners and viewers we want to tell a little bit about the intentions of our show so the intentions of our show is to bring awareness to financial literacy so that no matter what um comes up in your financial life that you're better able to handle it being able to have heard the information before so um we do have a real life situation for the story of the day today so the story of the day today comes from one of our business partners uh first i'd like to say the name of this episode is the benefits of partnership exactly so the story of the day is about one of our business partners and she came across something that was truly devastating in her life um she was diagnosed with cancer and upon being diagnosed with cancer she had to start making some tough decisions about her life and she was really trying to figure things out and in trying to figure things out she wanted to know like what was going to happen with her children she wanted to plan for that what was going to happen in her finances what would happen to everybody if something were to happen to her and as that was going on she started like researching and seeing like what options do i have what options do they have and she started applying for different life insurances and things like that and found out that she was getting denied you know she was getting denied because she had a pre-existing condition and you know having cancer and um and then she was researching okay well what do i have already you know what do i have and she found out that she did have life insurance um but horrifically enough this life insurance was from her employer and with that the employers would have been the beneficiaries and her family would not have been able to benefit from those from the life insurance company so she was she was horrified and so one of the things that our organization i'm so proud of is breaking ground on is that um is that we allow our agents to qualify for life insurance policy with no medical exam and you know with no medical exam yeah you know a six figure exactly did you know that a lot of companies do not let their let their employers employees know that they take our life insurance on them yeah yeah unbeknownst to a lot of people i did not know once a long time ago that uh they take out life insurance on you and you don't know anything about it but eventually you will get something in writing or either you may get an email asking for your permission right and it's a really it's a really tricky kind of subject because it seems like something that a lot of people wouldn't know about exactly like how would you um just to think about how would you even know the whole you know concept comes from i was reading this article about um what they used to call this and it was it used to be called dead peasant insurance it was that's crazy yeah dead peasant insurance and that is um bro it's a throwback to russia because then when people were working they considered the people as like property yeah that they insured and if something happened to them and then they would have some kind of benefit from them working for them you know now they make it they've made it more cute you know so now they call it uh company owned life insurance yes so it's cauli c-o-l-i company-owned life insurance so they made it cute right you know right but what what an idea what that's very disappointing yeah that's very disappointing and disturbing and heart-wrenching you know to know that that's how they treated people as property yeah but you know it's crazy and then because so many people probably aren't aware of this you know how would people even know if they were um if they had this life insurance policy taken out on them because wouldn't you want to know if there's a life insurance policy on you that it was well regulated and all that but so how i know you were looking at how did they how do the people even know there's a life insurance and you know like i said before um a lot of times the employers will either send you a letter send you an email or either um just one one or the other you will be informed in some kind of a way yeah yeah and you know that that's another thing about uh financial literacy and why it's so important because you know sometimes we get these things that come across our desk that talk about accrued benefits or sole beneficiary partial beneficiary and because we're not used to seeing that language all the time anything could happen we could sign it you know and mail it back in thinking that we are benefiting from that information we could just leave it there and just leave money on the table and the thing about leaving money on the table is that sometimes we just don't know exactly yeah you're talking about talking about that financial language yeah and then i love about our company because the more that you get involved or and learn about financial literacy which is having to do with your credit repair and other products and services that we will be talking about um you will become your ear and your you know you'll become more educated about more open open about the financial language yeah it's kind of like you know i'm a mother so i have to speak from my mother's point of view exactly that um it's like when you have a small kid and you are talking to them but you spell out a word you know because you don't want them to know what it is you know then when they get a little bit older maybe you write something in cursive right because you know they're not at that stage and uh and or maybe cuando en pies you know you know they're not going to understand so you can speak like that and it's the same way with with financial language you know this is such a big thing it's a big thing it is gotta get in on it gotta know the language it's just like like you said it's just so important i myself you know once um i got started and involved in the corporation that i'm involved with our company the financial language i had to like you said get an ear for it because i didn't know certain terminologies but after i got to know it it makes you more powerful it makes you become more educated about you know the products and services again you know credit repair budgeting restoration you know all of these things you need you know for your future and for your family's future i mean after being there are so many things so many ways that i've benefited just getting around the language of financial literacy i mean if i just listen y'all do y'all have time because i might have been a bit of a wreck before but um it's so useful knowing that language and seeing that language all the time just like um just like for our business partner who didn't know that she had life insurance but it wasn't going to benefit her you know it's really heartbreaking in a way so um like we're saying the intention of the show is to put the financial language out there because you want to know who are the who are the beneficiaries of your estates you want to know that you have a plan in place that is growing you for right now exactly you know and in the future for you for your family for your for whoever is around you you want yourself to benefit but then also everybody around you and also if you have property you have debt you know your debts your assets and your property you want to make sure that that's going to the right proper person or a person that you love that you know that's going to take care of your affairs um yeah so that is one of the things that um with the her will and trust she was able to do was to set up some of the guardianship for her children exactly and she was able to appoint people in the right places you know you know knowing that your kids are going to go to um exactly where they should they're not going to be exactly you know awards of the state and they're not you know that's that's something that you think about yeah you want your kids and your family to be well taken care of and so when she qualified for the six figure life insurance policy figure now that's a benefit of being a partner because not only did she qualify for this six figure life insurance policy but it was at no additional cost so even at the at the price of just credit restoration she had all these other things that a lot of times people don't have in place um and she was able to put those things in place and structure her finances in such a way that it was going to benefit her and it was going to benefit her so i absolutely love that right so um we definitely want to uh talk some more on this we're so excited that you guys have joined us for this show benefits of benefits of partnership um and we are going to take a short break short commercial break and we'll be right back [Music] oh my god i just got through watching a great show on box of houston network have you heard they're bossing up okay and i heard they're looking for you any podcasters talk show host if you're a writer or producer we definitely need you come aboard and boss up are you a small business owner that is struggling to promote your company our topic today is what's your status shoot the guys at this point [Music] so yes [Music] hey how y'all doing all right [Music] imagine being televised on a national platform how about being a host or sponsor on a syndicated podcast or being featured on exclusive promotions and interview for your product to your ideal customer hi i'm kayla sneed and i'm head of sales with boss up houston and here at boston we like to help small business owners and entrepreneurs advertise promote or become a sponsor for one of our television podcasts or radio shows all you have to do is click the link down below to see if you qualify i'll be seeing you soon this is boss of houston where we look up stay up in boston [Music] hello you guys and welcome back you know before the break we were discussing about how one of our business partners was able to benefit from um from getting her finances in order in the face of a fight with cancer thank god she is doing well now and um but yeah it was it was a really big deal for her to go through that now we did want to touch on the will and trust yes because um just think about it in our communities you know sometimes um we hear these words like will and trust i know on the fresh prince of bel air i would always hear them talking about trust funds you know they were a trust fund kid but um do we really know what that means like what is it exactly so let me let me tell you what that is right so going forward the will um your will the will and trust so what we wanted to talk about was the will so your will is giving people permission uh well what well first of all we wanted to say that they were professionals that did not have a will oh yeah and we wanted to say some of the people you've probably heard about even on tv yeah aretha franklin was one of them yeah tupac tupac was one of them prince prince was one of them um billie holiday was one of them yeah um marvin gaye yes didn't have one so you know those situations were huge because with them having the finances that they had and you know they had you know the residual income coming in that they did because they were entrepreneurs devastating they um it caused a lot of energy to go out to their families because then they had to go into probate and they had to go into the court system and go through all of this different litigation so that they could take care of the estate so those things can continue to run for one thing really but then they had all these people coming out of the woodworks to say you i'm the cousin that was my daddy right you know and then they had to go through a lot of um a lot of them had to go through heaven and things like that and that that causes emotional strain emotional family that causes the light and on that note right so let me fill you in so a will is a legal document that sets forth your wishes regarding the disre distribution of property and the care of a minor children yeah without a will that those wishes may not be carried out and that's how that's hurtful um that's devastating you know so this is this is a note to all of us uh that are listening to this if you care about your family you need to get a will done you really do yeah and it's unfortunate a lot of families or even a lot of people we don't want to talk about it but things will happen in life and if you don't have a will written up on what you want your love wants to do it will definitely be devastating what you what your wishes are uh just for instance this is personal but i'll share it i told my i'm married and i told my husband if anything were to happen to me i don't want to be i said give me a week and i know that may sound hard or or ugly to people but you can give me about a week if i'm a vegetable i don't want to i don't want to be there any longer just having my body just being in a hospital or him having to take care of me i don't want to put that on him or my or my sisters if they love me as much as he do i don't want them to fight we'll leave her on a ventilation yeah or you know leave her in the hospital give her another month if my wrist my wishes are written they're written and this is what i want so on that note yeah that will is definitely important it is vital because it also takes strain off of the family yeah because um a lot of times we've seen it go a lot of different ways if someone is in the hospital or you know they have to make decisions on what their care is going to be like and some people already have it set in their mind what they want to happen but if at any time they're incapacitated like they're not able to make decisions then that decision-making responsibility that burden goes on to the family and then you know they're left you know thinking am i making the right choice um would they have wanted this when you know right we could write those things down and and then take some of the guilt off of them we want them to enjoy themselves you know and not have that burden on them yeah exactly um and then so about the will you get to write out what happens with you but then also when it comes to um a trust so a trust is an even more active document when you are still here there's no here still here y'all so the trust allows for you to appoint someone the responsibilities for their benefit so that they can handle affairs so even while you're here so if someone is um is if you the trust store um allow the trustee to make decisions on your behalf then that means that they have access to certain things and you can line out exactly how you want things to be taken care of so for example if you have a business and you have a business that is high functioning and every month you pay a certain um insurance maybe you pay each employee at this rate and at this salary you pay out this much in travel expenses you pay out this much you can line those things out and whoever is the trustee of that they can continue on your business the way that you would have it to be run you know and so then the people who are your employees they can continue to function they can continue to work um to take care of their families because you thought enough about them to take care of their families as well because as we all know it doesn't just stop with us so we have a responsibility to take care of ourselves and that's just what we do naturally yes but we also have a responsibility once we have grown to also um ensure that the people around us are taken care of are taken care of especially those who are depending on us yes you know if they're depending on us we don't want them to just be thrown out to the wolves and that's just like when we were talking about the will even though we're getting ready to get into the trust but it's the same thing with the will you know if they the the the uh movie stars or the actors that lost their lives and did not have a will yeah they they have people on staff as well yeah so immediately those people were out of jobs what happened and so that's more emotional devastation because yeah yeah it does then put to like it didn't put things in writing you know so but uh there's a there's a responsibility we just have to realize the importance of um of taking care of ourselves taking care of others you know and um and not only that while while we're taking care of these things for the end time taking things for us right now um we want to switch gears a little bit yes and um you know talk a little bit more about um the importance of the the multiple streams of income okay you know yeah because one of the ways to even get in a position well everyone who is alive and breathing um needs to have a will and trust in place and some people have heard them talk about how well i don't i don't have anything that i can will to someone else but we really do if you have enough to take care of yourself there are plenty of things that you can um that you can will over to other people that you might not even consider to be significant but they are yes you know before before we move on i do want to say there was something that i saw on social media the other day you know sometimes social media wins because they have all the points but um the trust reminded me of this and they on the post that was talking about a significant other you know and we do have we all should have significant others and if you look at the word significant it spells out sign if i can't so having an awesome yeah i think what's up yeah that's what's up so having a trust set up allows you to have a significant other someone who can sign if you can't if you can yeah a significant other yeah i really like that significant other yes it is so um we're uh she was just talking about multiple streams of income so if you just have a job that's fine too but just like all of the devastation that we just went through with covert and everything um we also have um in our business as business partners we have the opportunity for you to become a business partner with us and have another stream of income at home that's what's up that's what's up that's what's up you know that's what's up so yeah based business so if anything happens again you already have something in place to take care of you and your family yeah and it goes further than that yeah it goes a lot it goes a lot deeper um so just like we were talking about being able to you know pass on things then we we shifted to having multiple streams of income because we don't want to just set up for a time far off from now when you know we may be able to pass something along we also want to be building right now in this moment because now is a time like none other in history well we've probably had times like this before but if you've noticed there are so many people who have you know side gigs yes or side jobs or you know that are building businesses and this is the time there's so much support um in the marketplace for small businesses up and coming businesses where people are um supporting their friends supporting their family in a way that i haven't seen in my generation and so what we offer is a is another opportunity to make extreme income definitely the thing that i really loved about um about what we do is that um you know originally just to give a little background on myself i had been a teacher for over a decade and i got involved with this business opportunity and i didn't really know that it was going to be as big as it was i had no idea but i knew that i needed to get my credit restored because i wanted to be able to sign for things myself i wanted to boss up i wanted to be i wanted to be able to do anything that my heart desired and i had a lot of hopes and dreams and so when i signed up i signed up for the for the services but then after i got signed up and my credit score went up over 100 points i was like yeah wait a minute oh my gosh i started telling everybody everybody i was like girl i know and i was in the program i uh two got involved got in the program and literally i'm in the 700 club yeah meaning that your score can't go up to 850. you just got to get in the club not the club program and get started yeah and it does work i guarantee you another thing right personally i was able to put in for a loan had not put in for a loan for over seven years i'm telling you i was shocked you know and you know what uh what the trickle effect of that was is that when i started telling everybody yes i didn't realize that everybody i knew needed the same thing that i did i thought it was just me in a bad situation but i didn't realize everybody needed it everybody needed it as i was telling people about it and the success that i had they were like they asked well how did you do that how how can i do that right and so when people started enrolling in the program i started making a significant amount of money hello so i had to you know decide like what am i really going to do am i going to like continue to teach am i going to do this full time you know i just wasn't i was like this is helping in a very very uh important way because i was able to do things that i couldn't before and um and then the families i was i was helping through you know education and the schooling system this was another very real way to help them you know um so uh we're just out here telling them no okay that's what we're here for to make sure people know what we have going on yeah well um yes that is that is right yeah okay so um but we do want to go ahead and take a quick break so that um so that we can come back and give you some additional information information about some other products and services so you guys take a look at this commercial our new house is amazing great street huge yard there is a bit of an issue with our neighbors fencing at least geico makes bundling our home and car insurance easy which helps us save even more hey sarah hey peter what for bundling made easy go to geico.com if you like this video please share it and hit the subscribe button to watch more great geico videos hey guys can you please watch the begonias just planted those [Music] [Applause] [Music] [Applause] [Music] hi guys and welcome back to race to wealth on the boss of houston network so um with all of that that we talked about before the commercial break um you know on this show we've already talked about a business partner in the way that she was able to benefit in a huge way and then for us also how we've been able to benefit and all the different ways that you know you can get yourself set up financially as far as these services go of course there are a lot of other services that we didn't touch on for today but with all that being said it is a time to um to reflect yeah and just think about where we are financially of course no one ever um feels like they have arrived no you know ever no you know that's not that is not the case um because even like um uh bill gates and some of the other people are so fortunate to have structured their life in a way that they're consistently you know um they're consistently like investing in assets assets that are going to bring them um more financial freedom right and they have multiple streams of income they have multiple streams of income and it once you start accruing more and more assets then um it's automatic you have to do even more to keep those going exactly right if there's anything to invest in it is investing in yourself and some of the ways that you invest in yourself is reading uh different books on finances oh yeah a lot of oh my gosh definitely i've read um uh kimosaki rich dad rich dad poor dad oh that's a really good one so that's on the that's on the suggestion list it's on the suggestion and susie um and then well i i think that um a great book for someone who's starting out to see exactly how is it that i that i want to structure my money consistently would be um the richest man in babylon oh wow so yeah and you've read that one i know we were talking about that the the richest man in babylon is a book about um this guy he wants to be in a better place financially um but he's just not sure of how to get there and along the way he realizes how he can divide his money up each time you want to divide your money up and send your troops out you know sometimes me and and some of my um some of my partners talk about dividing your troops up because your money is a tool it's something that you use to send out into the world and it has a job to do so you don't want to just go throwing your troops away you want your troops to go out you know and recruit for you and bring even more troops back to you you know so that your army can grow and your financial army can grow and show them how to do the same thing okay so you know the book you were talking about rich dad poor dad yeah um that story yeah i i mean um what's the book um rich dad poor dad right yeah that is that okay that is um i really liked how he compared um his father he had a biological father right and then he had a stepfather right what it was a friend's father oh a friend's father and then a friend's father yeah and he said his father wanted him to work yes and write verses and he used to say well how do i become rich you know when he was young and he said and he said well my my friend's father's rich he said well go ask your friend's father yeah but then when he went to go and ask his friend's father his other dad wasn't really seeing like how that was gonna work he said he said you need to go to school get a great education exactly get a good job and that's it and and spend your money responsibly on things like getting a house getting you know all the things that you know say that you have status but then the rich dad he was into investing your money yes like real estate real estate and investing in assets you know and he was saying that if you have a house that a house isn't necessarily an asset if you're not going to do anything with it you know if you have a house and maybe like in this day and time the way that the real estate market is going oh my god it's crazy so but if you had a house during this time and you were thinking to make your house um open it for like an airbnb where you would be able to open it up as a studio or something like that and you can have your whole mortgage paid and you can pay for some other assets and then that would be a great way to use you know your house as an asset and be able to save some money and be able to save yeah yeah so it was interesting how they talked about the two different points of view and if you read this book at different points in your life you know you can better relate with one and then once you get into business and start doing some of the business practices and building yourself up in different ways then you start to better um better relate to the other one and the mindset starts to change when people go into business it really does it really does yeah and um yeah that's a whole nother subject right there going into business for yourself because it takes you away from working being in the workforce working for someone else it's completely different but one of the takes that i've learned and working for myself is the fact that you go out every day of your life and you'll work for someone else and they'll never yes you may grow yes you get promoted and things like that but in the at the end of the day do they give you a blueprint for when you decide to retire where you can make hundreds of thousands of dollars like they're making yes like they're making no are people showing that no about people who get into business for people to get into business start they are navigating through and navigating through how that goes and how they can build themselves up and how they can build their wealth and how they can network and have the right connections to put them in a good position how they can have the right assets to put them in the right position how they can understand their finances better because even if you say you know i would like to get my finances in order but i'm going to hire someone who can handle all of my finances well if you don't know and you have no clue about what they're doing right then you're are you really putting yourself in the best position so that's one of the things i really love about our program is that you are involved in the process so as you grow as your soul prospers yes you prosper as well because little by little you're finding out about what finances are all about i love it yeah beautiful things a beautiful thing to know the language of finance yes and on that note um we do want to take a quick commercial break it's been so great talking with you guys and listen we are open so feel free to leave a comment in the chat um here at boss of houston race to well we are open we want to know what you know something that stood out to you you know we want to know something that stood out to you as you're watching if you have any questions um or if you'd like to contact us please leave a comment below and we would love to we would love to connect with you guys so um on that note let's take a quick commercial break and we'll see you soon [Music] hook updated [Music] [Music] hey welcome back everybody back yes welcome back to race to wealth so we want to give you a today a subject on tough love we want to talk to you about tough love because we know about some tough love situations that we've had in our life yeah we've we've all been through situations and you know sometimes it's good to have that um to have someone to tell you something that maybe you haven't heard before or maybe if it comes from someone else that you'll take it in and receive it you know and when we say tough love we don't mean like harsh exactly we mean here's the meat of it here's the here's one of the takeaways that we would um that we would hope that you guys would take away from it but you know so the the tough love tough love is advice for the day is to get your finances in order um and we're saying that or i'm saying that as well we're doing it together individually but when you think about it it is tough y'all we know it's hard and that's why you know we wanted to challenge everybody and come out and talk to everybody that we that we feel that are listening uh even if you know about finances if you're in that financial arena you know we know that you know what we're talking about not just that but personally personally when you've gone through hardships in your life and it's a financial battle or hardship again this is the tough love advice and we can give that because we've been in those situations and we're we've we've put our foot forward we've sacrificed we're we're still fighting to make a better financial investment in our lives yeah and so this is a big part of it the information that's that we have been sharing with you thus so far yeah and so um the the tough love advice is to get your mental thinking ready for what is happening now and what happens in the future because you might not always have time to get it all together and we all know that finances can be a web of things and a web of events so that you know the tough love advice is to get it get it together um just do it you know do it now get your finances together we are definitely here to support you as we're supporting ourselves and our family yes um just get it together because you might not always have time like our business partner had some time to really look around and research and get things together but who knows how much time we have and so just a tough love advice is just to get your finances in order you don't know how much time you have to do it and i also want to everyone know vanisa another thing that's why we're doing what we're doing so again if she's going to give you some information if you need to get in touch with us we would love to work with you definitely support you and work with you however long it takes we have information awesome and to be to be a guest on the show because you know we're looking for realtors and people who are in this arena who would also like to come in and talk about their profession and what they do and how finances impact their industry so if you'd like to be a guest on the show or if you'd like more information you can contact us at racetoywealth.org or

um or race2wealth.net yeah and so um this um so you can also contact us on the boss of houston network and as always if you would like to be on the boss of houston network you can also reach out at bossuphoustonnetwork.com for more information um so remember to remember to tune in remember to tune in to race to wealth every sunday every sunday 2 p.m at 2 p.m um this has been another episode of racism where we focus on your financial health and we love you guys see you guys see you later later [Music] tip

2021-06-08 14:14

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