Subscribe
Share
Share
Embed
Financial literacy, generational wealth, credit - money in all types of ways. Bruce Milam Jr. talks all things finance for the Las Vegas valley.
Unknown Speaker 0:00
This is a K und studios original program.
Unknown Speaker 0:03
The content of this program does not reflect the views or opinions of 91.5 Jazz and more the University of Nevada, Las Vegas or the Board of Regents of the Nevada System of Higher Education.
Unknown Speaker 0:16
Hey, welcome to find naturalism. And I'm your host, Bruce smilin, Jr, where we talk about financial literacy, generational wealth, investing and entrepreneurship. We cover everything from credit, business credit, oh, just money in all types of ways. You definitely want to tune into this. Let's go
Unknown Speaker 0:42
hey, this is Bruce Milam Jr. And this show is fine naturalism, financial literacy at its finest. The more you know, the more you grow. Hey guys, this is show number one. I'm excited right here doing this show at K u in V jazz and more. I really love it here, man. And we're going to drop some gems for you today. But on this episode number one, before we get started in this path of financial, financial literacy, I want to talk about the rules of money. Okay, now this show that we're going to have financial ism we're going to talk about you know, the next episodes everything from insurance life insurance whole life, getting your credit, right business credit, corporations LLCs generational wealth, you name it all in a financial perspective, we're going to be talking about in interviewing some really special guests. So I want you guys to stay tuned and go on this journey with me bro smile and Jr. and financial lism. Let's dive into it. Number one, let's go. mindset. Before we get started with define naturalism, in diving in, I wanted to talk about the mindset. We've been programmed as, as a kid, you know, coming up, we've been programmed. And one thing I want to say is we have to deprogram ourselves because things have changed since the 50s, the 60s, the 70s, and 80s. A lot of things have changed when it comes to financial literacy, generational wealth, economic empowerment. So when it comes to credit, and everything, so I want you guys to really open up number one, number one is, reprogram yourself, okay? Reprogram has a lot of things to learn. And I want you to be open. Sometimes our parents might program or sometimes we might be programmed by society, and community. So just be open, because a lot of things has changed. There's a lot of millionaires and billionaires getting made on right now and you can be a part of it. Okay? Even if you're working, if you're an entrepreneur, whatever you are, you can do this. Okay. So let's talk about this. Now, rules of money. First thing I want you to do is pay yourself first, okay? Pay yourself first. All right. Now, what that means is, when you get paid, the first thing we usually do is we pay bills, we buy some clothes, we do some shopping and pay our credit card, but what I want you to do is set up a couple of accounts, some bit some bank accounts that you have, have you got your personal account, right, have another account, that's just strictly for your savings, right, you also have some money for your emergency savings, your regular savings, and money for investing, and that could be 10% each one 20% whatever you can afford, do never think that just because you making so much money on your hourly job that you can't afford to save and invest some money, say I'm not making enough to invest. I'm barely getting by I'm living check the check. I don't care how much you making, you can take 10% 5% And it's really about that habit. Now habit is how the wealth is built. It's all about the habit in the mindset. Okay, so just have the habit of saying I'm gonna invest $5 A week $10 A week. All right, I'm gonna you got that coffee cost that a burger just going out just silly stuff cost that amount of money. Okay? So what I want you to do is be in the habit of making these changes, pay yourself first. Okay, send it to that bank account. I don't care if you put it in your your at home account, but what I really want you to do is send it to that bank and have account set up where as soon as you get paid and when it goes there that's for you. Then I want you to invest some of that money. You there's all types of apps out here you know, you can go to Fidelity you can go to just random just random random websites, we can get into that link you'll be able to follow me we'll get into the different places but there's so many online apps do your investigation out there and then you you know, there's so many different apps where you can do your investing, investing with your stocks and bonds and and I follow people like Warren Buffett you know, when it comes up, follow success. Let's get into rule number two. Okay, pay yourself first. And then what I want you to do is follow successful people study successful, wealthy people. Now you don't have to live religiously through them. Right? But I want you just to study how they think, how they became wealthy. What kind of investments today? Did they made? What books do they read? You know, how did they get to this point? Study successful people follow those paths. Sometimes the Path to Wealth is really easy. It's about mindset, habit, studying successful people. And following that blueprint. Okay. Let's go on we, we get down we get down today, but I'm gonna get into some of these rules of money. That's really good. Check this out. I don't want you to be a hater of money. Don't be no hater of money. What does that mean bros. That means when you owe money is the root of all evil, but we need it for everything. Money is a tool. Okay? Money is a tool and freedom is the actual end goal. Right? And so to get the freedom, you got to use that money as a tool to build that wealth. generational wealth. Okay, so remember, money is not evil. It's just a tool, right? And if you use it, right, you can be alright, and you can start tonight. All right. So listen, don't be a hater of money. You know, remember, we reprogramming ourselves getting our mindset together? Also, money is really a doubles game with that mean? As a double. That means we're going to win money doubles, you got 10 doubles away from a million, you know, right? You got you got 10 $10,000 you double that does 2020 goes to 4040 goes to 8080 to 160. So really, how fast can I double some money? You know, and and that can be with investment investing. Okay, so remember, it's a doubles game, we're gonna double the money. Now, how can I do with this money? Bruce, we're going back to that investing. So we got to invest, guys, we have to invest the money. So I'm gonna get back to my next rule is when we talking about investing, okay, and talking about paying yourself and we breaking all these files down. One of my other rules of the money. This is a good one, guys. Okay, we were talking about doubling. Right? You got to remember this, you can't save your way to wealth. You said what do you say Bruce, I can save money and become a millionaire. I can just keep putting money away. Yeah, but if that money is not making money, you're losing money. If it's sitting in the bank, just relaxing. It's not making any money guys, we have to put this money to use money gets bored, money is currency, it has to flow, keep the money moving, money has to grow. You cannot save your way to wealth. Okay, let me say that again. You cannot say your way to wealth, guys. All right, what you got to do, you got to invest it, set that investment on autopilot, right? invest into your favorite things to you know, you don't and there's different different lots of different investing, you know, so it's not just about stocks, or crypto, you know, let's go back to my next rule. You know, when you invest into yourself, start a business, man, there's so many benefits to starting a business. And now you don't have to old school way start a vicious thing about having a brick and mortar, I got to open up a store. No, a business can be your hobby, you know, you you sold Somebody sold some clothes, you know, you may have an idea that you do something nice, you might be an artist, you know, you might you might write you might you might write books, intellectual property, there's so many things you can do. And one of the things is starting the business has so many tax benefits. Trust me, I have alpha business services. She's going to be one of our next guests and she's a tax professional. And she actually does my taxes for my naturalism, purism my company that smell good company, nor home and body, and it's in my married so I'm doing joint taxes. But when you own a business, you have so many write offs. So say for instance, you making money like I owe but when you have that business, you can write off certain things in your business and that can combine together. So even if you're a sole prop a sole proprietorship, and we're going to get into the that's going to be a whole nother segment coming up soon as about the businesses and business structure, but we're going to just go over briefly start a business, you can be a sole proprietorship, you can be an LLC, you can be a C Corp, or an S corp. But let me tell you when you start this business and you structure it properly, is so many tax benefits to starting a business. And remember, take your side hustle and make it a business is not that hard to do. Okay, now you're gonna be able to reach me and I'm gonna help you with the process if you need me, you know, but this is what the show was about. This is fine naturalism, we want to just guide you through that process here. Okay. I remember starting a business is one of the rules of money in Condesa a good way of investing. Okay, so hope you guys are following me right now we're doing good here. Thank you for following me. This first show of financial lism with Bruce, my love, Jr. Okay, let's get back into the rules, seduction, you got to seduce Money Money. Money is money like to be seduced, don't chase money, you know how you chase somebody, you're sweaty and you're like, hey, I want to so bad, you know, just you got to relax, be smooth, let money Chase Chase, you let money come to you. Right? Don't chase money. When you chase things. Sometimes it runs away from you, you position yourself really nice. And money will come to you. So don't chase that money. Don't I know we go to work, of course. But that's where we have to just position ourselves to invest properly, do the right things. But you got to seduce that money. Money likes to know that you know what to do with that money. That's why financial literacy is so important. That's why gaining knowledge and the wisdom and that's why it's called financial lism. Right? It's the knowledge and the wisdom of this finance, the finance industry. Okay, now, I want you to know, my next rule of this money is a game, right? You got to know how to play the game. You know, that's almost one of the rules number one, but but I have to break it down money is an actual game. Once you learn the rules of the game, you practice the game, it's like playing basketball, you first get out there, you shoot somebody, you shoot some shots, you know, you miss next, you know, you shoot threes from the corner. Next, you know, you get you on TV, you know, you just take it to the next level. So remember, money is a game, and it wants to be played properly. And once you learn the game, you can be a specialist in it. And you can get awards and ceremonies and really make a lot of money. Once you learn that money as a game player, right guys be a participant? Do you want to be on the sidelines just watching the game? Or do you want to be in it? When it comes to money? I want to be in it about you. All right. This is Bruce Smiling Man you're listening, find naturalism. This is financial literacy at its finest. The more you know, the more you owe, and rewrite now, on K u n v. Right now 91.5 Jazz and more. Let's go. Next rule, timing, how right? It's about timing, when to do certain things with the money when not to do certain things. You know, sometimes you have to pace yourself. And there's so many distractions with the things that's on the internet that's online, so many ways of making money, you can become very distracted, you know, so that's why timing and making sure that you position yourself properly, don't be all over the place. Stay focused, stay focus. That means you know if there's 50 and 50 different ideas of what making money, just you know, have your couple you know, you got your you got your, your nine to five and you want to you got that certain talent, you know, let those have branches versus doing so many different things, you know, I'm gonna, I'm a plumber, I'm gonna be a teacher, I'm over here, I'm a construction and, you know, you know, all over the place and your time can only be spent so many different places. And once you split your time up so much, you know, you don't give that certain thing that that energy that you can really build on. So what we want to do here at find naturalism as let our money go to work, we want to position our money to work for us use our talents and skills to gain more money, but then we want our money to work so we can have more freedom. Remember, money is a to freedom is the end goal. All right, we get in deep today with financial lism your first episode we going in? I love it. All right. Another rule. Money do not like being bored. Okay? Same thing. It's almost like the seduction and the timing but but boredom, money don't like being bored. You guys just sitting lonely in the bank. On the mattress. What happens when something is bored? If you're, if your partner is bored you with somebody and you're just doing the same thing and there's no excitement, there's no living, you know, they end up leaving, so they go somewhere else. That's what money does. If money just sit in your pocket, it just goes somewhere it goes to the next person who know what to do with it. You know, so use that money, don't let that money be bored. Its currency. Let it flow. All right. Now, another rule have a secret account. What does that mean? Bruce? You trying to tell me to have a secret account? Yes, I am. I'm telling you to have a secret account that no one knows about. No one only you. And this account has a secret stash is different from your emergency fund that you may have. You may have that emergency fund for the family for you. And that you have there just in case something happens that's different. That money sits there and you know, it's not to be messed with. It's only for emergency purposes. You got that fun. That's for investing. You know that money is for investing in your crypto, you're stocks your real estate your business and when he goes there right you got your fun money but this secret account is for a your personal emergency that's like oh, you build no here no one knows about. Always have that secret account. Yes, I have one guy sorry wifey. Yes, I do. She would benefit from it. Okay, let's go to the Netherlands. We Good morning, guys. I want you guys to study your politicians in your city and state and the country know what's happening and the laws the Assemblyman the councilman? What laws is being passed? What's going on? How are you being taxed? This is kind of a double rule. How are you being taxed in your city and state? State? How was your your real estate? How was your sales tax? How was your federal tax state tax like Nevada, we don't have a certain tax here, state tax but you know, federal soldiers. And then you can maneuver when you know, how you're being taxed the maneuver when you know how your politicians is working and who's in office? What's their beliefs when it comes to money? And where's that money flow into? There are so many organizations, I mean, your city, there's no chambers of commerce, and there's SBA is their score. There's so many different organizations, your colleges, right here UNLV, you know, you can tap into the business, the business community here, you know, there's so many organizations that will help you out. And you have to tap in and recognize and find out what the money is going to But back to the politics. Know, your politics know what's going on in your community. Okay. All right. We're getting deep, y'all. I'm loving it. All right. And don't forget, this is a game. So all this is a part of the game structure. All right. Now, I told you guys to study, you know, smart investors. You know, we broke down that. Now. I want to I want to break down, which is really serious about making your job, your business partner. Okay. Now, this is a whole segment. All right, for all my people out there who work and say, I can't start a business because I work. All right. I just don't have enough time. There is not enough money. All right. Give you guys a little background real quick. I started a business called the smell good company in 1998, in Long Beach, California, and I had a store. And right off the Atlantic and South Street there. Then I had a was a retail store, then I started a wholesale business, right? The wholesale business really kicked up. And that's how I ended up coming to Vegas. And the wholesale business that I had, and still have to this day, we sell wholesale products to stores meal, incense, oils, candles, all type of aromatherapy products. That's why I stay smelling good. I'm still in business. And that business I did. I mean 100% For a long time. And I would always take money from the business, I thought all the money was my I thought, hey, I made this money, I made 2000 I need 1000 of that to pay my bills, another 500 for vacation, I need 300 For my personal stuff, well, I got a couple $100 left, that's the money I got to invest back with. And that was a good habit. I did that for many, many years until I had to recognize that my business has to pay me a salary. So say for instance, if I work and I get paid 5070 to 100,000, whatever my salary is that I need, my business needs to be able to pay me that. And then I also need money for my business to actually grow. So I have to reinvest money. And a lot of times you have to invest majority your money when you first start business, right. So for many years, I would just take all the money for my business, I would never, I want to give a lot of minimal back in a business never grew. It took me years later where I had to recognize that I need to leave that money alone. So now I'm working in the business and working business loans right now. All right, and I just passed my real estate tests. So my real estate career is starting and I will always be in the finance industry with the business loans and things I just love working with entrepreneurs. And the real estate is all about generational wealth. So you know getting to about how you can make your job your business partner, you know, now I work and I steal when the when I my extra money that I use that I have left, instead of that money being spent on a lot of frivolous stuff. I reinvest my money into the business, extra money and my business still make some money, but now I have this extra money that I have, I can use it for me when I say my job is my business partner. Now I'm gonna have my extra money, I need some money for marketing, I need some money for this. I can put that into my business. I can hire I can have somebody working while I'm at work. I can pay somebody part time or you know independent contractor so your job can be your business partner. So when you at work, don't say I have to quit my job to be an entrepreneur one day that is to go okay, I understand that that is the goal to be able to have your job pay your salary, because you want to get closer to closer to freedom as possible. So Yes, but if you're working out there, I don't I want to, I want everybody to know, if you're working, and you want to take that step into entrepreneurship, you can do it while you at work. And it's all about setting those steps up having that account where that money is going to investment. And you remember that account, that money can be used to start your business, you see what I'm saying. So you've been investing automatically. Next, you know, you have a little pot of money, you take that money, you start your business, you can go online and get your website, you get your EIN, and we're going to get much, much deeper into all that concept. But one of the rules is about starting your business, and making your job your business partner, if you are currently working, okay, so we're going to get deep, this is episode one, you guys, so just, you know, be patient with me, we got to have tons of knowledge, we're going to be interviewing a lot of people from all the sectors. Alright, so now, one of the next rules is, and this should be like rule number 111. Is credit is king rules of money, oh, my goodness, this is going to be a whole show, I can't wait to have my specialist coming on about this. Credit is king when it comes to money. You know, I'm working business funding right now. And customer, customer calls up, they want some money, you know, we take a peek at their credit, credit is a little low, got a good business, though, we got to get, we got to give them a a low offer, just because the fact that they don't have their credit up to par. So that is key. So I'm looking forward to you guys of having that the credit show was coming. But credit is King guys. All right, I really want you to really pay attention to your credit, your utilization, your you're paying things on time, even if it's the minimum balance, you know, having so many some a few different accounts that you need to have having a few credit cards, you know, having a if it's a secure loan, and then you got to pay it off, until it could be an unsecured loan, you need to have, you know, these trade lines on there. Different things have that credit profile up. And remember, please pay everything on time, even if it's the minimum payment. You can't get anything without that credit, being right not gonna say anything, you know, that's false, that's false, you can get things without your credit being good. You can pay cash, you just gonna pay a higher interest rate, your options get a little bit limited when you have a lower credit score, lower FICO, and things like that. So, you know, credit is King guys. Alright, so you know, all the research that I've been doing about your credit, this is the time to do it, you know, by building generational wealth, and your financial empire, credit is gonna be key. A lot of wealthy people use leverage to build a business, to build their empire, to be able to get loans and better take that loan and build their business, get their house, you want to get a house, man, the Lord of credit, the higher the interest, you know, when your credit is super beautiful, you can walk places and they just get excited when you come in there and your credit score is higher. Right? So remember guys, credit is king. All right, so we went through some good things today. This is only this is only part one, part one guy. So once again, you're listening to find naturalism, financial literacy at its finest. The more you know, the more you grow. Alright, we right now on 91.5, jazz and more K, u and v. And I'm Bruce Marlon Jr. also known as downtown Bruce. And I really appreciate you guys. So once again, guys, when went through the rules of money today, this was only episode one, we're gonna have another episode about the rules of money because it's more things we need to break down. And just an overview. Remember, pay yourself first credit is king. Make your job your business partner. And I didn't tell you this, but remember when you invest in buy low, sell high, and when you buy and low and when you buy in stocks and things like that when everybody's scared when everybody's scared. That's when you buy when everybody's excited. And that's when you sale. Okay guys, hey, we dropped some gems for you today. I really appreciate you guys. You know, you know tuning in. This has been wonderful. Shout out to UNLV and K you in V. Right. And this is Bruce meinem Jr. and you can reach me at 818-415-9079 If you want to find me and you can also find me on all social media platforms at financial ism with a Z. Isiah financial ism on all platforms. Okay Facebook, Instagram, the website is very new guys. We're getting started. As we start Episode One we started a whole new platform of fine naturalism so everything is fresh, just like this episode and that is fine. naturalism.com my email Bruce at to financial ism.com Hey, thank you for listening to fine naturalism. I'm your host, Bruce Milam, Jr. It has been an absolute pleasure taking you to the next level. And I want you always to remember, the more you know, the more you grow. You can always reach me on all platforms, find naturalism. All right, that's what the I ZM at the end, don't forget website, financial ism.com and all platforms. And if you want to reach out to me directly on my socials, you can go to be my love Jr. That's mi la m, Jr. on Facebook and Instagram, and also downtown Bruce out there telling you all the hotspots about where to go to in Las Vegas and all that. Love you guys. Thank you so much for your support. And once again, this is financial ism
Transcribed by https://otter.ai