July 31, 2025 âą 31 mins
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Mujahid Muhammad.
A financial coach specializing in wealth-building, shares his insights on personal finance, real estate investing, and financial independence. He discusses his journey, strategies for managing wealth, and the importance of financial literacy.
đ Key Themes & Highlights
- His Financial Journey
- Started his financial journey by investing in real estate, acquiring his first duplex.
- Built a portfolio using financial strategies, later facing setbacks like Hurricane Katrina and the 2008 real estate crash.
- Understanding Financial Stratospheres
- Defines different financial stages: failure, stability, growth, and independence.
- Emphasizes the need for strong financial foundations before pursuing major investments.
- Infinite Banking Concept
- Explains how individuals can become their own financial gatekeepers rather than relying on banks.
- Encourages strategic financial planning to control one's money flow.
- Middle-Income Struggles
- Discusses financial challenges middle-income individuals face, including debt accumulation and limited savings.
- Offers strategies for breaking free from debt and building long-term wealth.
- Financial Coaching and Mentorship
- Stresses the importance of financial education, mentorship, and strategic planning.
- Encourages individuals to seek guidance and accountability in their financial journey.
đ About His Financial Coaching
Brother Mujahid Muhammad provides coaching and financial strategies to help individuals build wealth. He specializes in real estate investing, insurance, and personal finance education.
#SHMS #STRAW #BEST
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hi.
Speaker 2 (00:00):
I am Rashan McDonald host the weekly Money Making Conversation
Masterclass show. The interviews and information that this show provides
are for everyone. It's time to stop reading other people's
success stories and start living your own. If you want
to be a guest on my show, please visit our website,
Moneymakingconversations dot com and click to be a guest buddy.
(00:21):
First submit and information will come directly to me. Now
let's get this show started. My guest is a personal
financial coach, a wealth coaching Stratosphere. They provide expert financial coaching.
They help you take control of your money and build
a strong foundation for your future. Whether you need to
break free from debt, create a financial game plan, develop
(00:42):
better money habits, We're here to support you. That's their model.
Please welcome the Money Making Conversations Masterclass, Brother majah Hid Mohammad.
Speaker 3 (00:52):
How you dog, Brother Majiat, I'm doing great by God's
grace and I'm happy to be here with you.
Speaker 4 (00:57):
Brother Rashon.
Speaker 2 (00:58):
Okay, now, you're basically Houston, Texas, born and raised in Houston, Texas.
So when I saw your information come through my guests
be Against portal, I jumped on it. Immediately tell me
what you're doing down in Houston, Texas, Brother.
Speaker 3 (01:09):
JAHI, Well, we are committed to assisting people in the
personal financial space. My expertise is both the real estate,
personal finance, and insurance as well. So we're helping young
families or people in general, you know, to get off
to a fast start and not duplicate those mistakes that
were originated by myself coming up and trying to develop
(01:29):
my personal financial portfolio.
Speaker 4 (01:32):
Well, I always say you learn from your mistakes. You
put it out there first.
Speaker 2 (01:36):
Brother, But Jahid, what was some of the mistakes you
made that you don't want us to make?
Speaker 4 (01:41):
Give us a couple of them.
Speaker 3 (01:43):
Well, let me start from the beginning. I think as
I grew up, the story was told to me. My
dad went to the military and he was sending home
checks to help take care of the family. At that time.
You know, they were extremely poor, so it was a necessity.
And he's sending CHEX every month, every pay peer. When
he got out of the military, unbeknownst to him, my grandmother,
(02:04):
his mother, never cashed any of those checks, so she
gave the money back to him and he used that
to buy his first duplex, and that laid the foundation
for his financial future. In mimicking fashion, I joined the military,
but I didn't need to send checks. We were in
a different time, although I'm sure he would have taken
my checks, but I was saving the money. And when
(02:27):
I came home from the military, my father helped me
find my first duplex, and it was from that duplex
that was the launching pad.
Speaker 1 (02:35):
I got married. A few years later.
Speaker 3 (02:38):
I identified this thing called equity. I pulled out over
twenty thousand dollars in equity and I immediately start. They
called it the Bird technique. Back then, there was no bird,
there was no YouTube and everything like that. But we
essentially I was buying real estate, renovating it, renting it,
our buying it, refinancing it, renting it out that.
Speaker 1 (03:01):
Whole bird method.
Speaker 3 (03:02):
So we did that UNTI I massed a million dollar portfolio.
I thought I had enough to leave my W two job.
I left the W two job. Three months later, Hurricane
Katrina hit the New Orleans area and at that time
none of my portfolio.
Speaker 5 (03:20):
Year was that.
Speaker 4 (03:21):
What year was that? Just remind everybody that the year
hurricane in two thousand and five.
Speaker 3 (03:25):
Yes, sir, yes, sir, so yeah, it hit us and
twenty years ago. Yeah, yeah, yeah, twenty years ago.
Speaker 1 (03:31):
And so at that time I wasn't covered.
Speaker 3 (03:37):
It just it wasn't required and a devastation like that
never happened before, so there was no flood insurance. So
we literally had these decimated properties with no money to
repair it. And I remember being on a phone with
a one of the I was in the middle of
a renovation at that time, and the lender was chiding me.
He was like, look, I need you to get back
(03:57):
on it and rebuild this property and rent it out.
I'm like, I don't think you understand. It's not my property.
There's no there's no houses for blocks and blocks. The
whole community was gone. So that level of devastation was
really unfathomable to all parties involved. So after suffering that,
went to Houston to try to regroup and I said,
(04:19):
I'm gonna come back and recommit to building my portfolio.
And then in two thousand and eight and behold, we
know what happened with the real estate market. And that
was kind of like the nail that kind of sealed
the coffin. So from there I kind of hit myself
over the head with that invisible Hamm. I was blaming myself,
thinking I wasn't what I thought I was, And for
(04:40):
several years I just went on and thought I was
a failure as it relates in the financial space.
Speaker 1 (04:45):
But there was a net unique circumstance that turned things around.
Speaker 6 (04:49):
You know.
Speaker 3 (04:49):
I got a phone call from my wife. We had
one car at the time, and I was at work,
and she said, she said, bet they turned off the water.
So I moved some things around. I said, look, go
pay this water bill. So she literally walked to the
utility company to pay that water bill before the children
could come back home and realize what had happened. And
(05:10):
I remember looking at my wife in the face and
I said, back, this next chapter of our life, I
promise you We're gonna have a lot of problems, but
it won't be a financial one. And so I committed
myself to turning our situation around. And that was the
impetus to where I knew I needed to do something different.
Speaker 1 (05:28):
And that's really really.
Speaker 3 (05:30):
The motivator for helping other families to not experience that
experience that I felt in that moment.
Speaker 4 (05:36):
What year was that, brother, Majahad.
Speaker 3 (05:39):
So you have two thousand and eight was from the
collaption of the home mortgage that was collapsing the house
Katrina two thousand and eight, collapse of the home mortgages.
Speaker 4 (05:50):
And then you had.
Speaker 3 (05:52):
At least at least seven years that I was just
doing ins and out odd things.
Speaker 1 (05:59):
I drove, but drove this. So yeah, So what's seven
on top of two thousand and eight?
Speaker 4 (06:04):
Twenty fifteen?
Speaker 1 (06:05):
Okay, So yeah, we're in that area at this point.
Speaker 4 (06:09):
Okay, cool. So now the next ten years you got
a plan in place?
Speaker 1 (06:12):
Absolutely okay?
Speaker 4 (06:13):
And what was that plan?
Speaker 2 (06:15):
And why did you feel the need to do because
you know you already messed up in New Orleans? Did
that properties got washed away by Mother Nature Hurricane Katrina?
Why would you go back into real estate after that
level of devastation?
Speaker 4 (06:31):
Brother, majority, Well, here's what.
Speaker 3 (06:33):
I learned, and I think a lot of times, what
we do in our community, we try to lead with business,
looking for business to solve our personal financial situation. And
the light bulb that came up with me is that
if you soalve your personal financial situation, you can grow
organically and come to the market in a different way.
(06:56):
So I prefer to come to the market as a
well capitalizing as opposed to an undercapitalized investor. And when
you prioritize your personal finance, accualage and grow according to
stage by stage, you'll eventually reach a point to where
you can come to the market and be more productive.
Because the big biggest lesson I learned was that leverage
(07:19):
without liquidity is stupidosy, and so at that time I
was real estate rich but cash poor, and so I
coming around a second time, I overemphasizing controlling my personal
financial situation so that I can approach the market from
a totally different perspective.
Speaker 4 (07:34):
So basically maintaining control with a plan.
Speaker 2 (07:37):
Absolutely, So most people get out there, and I will
tell you when I heard my first business, I just
had a dream.
Speaker 4 (07:44):
I didn't have a plan.
Speaker 2 (07:46):
I didn't know the severity of what taxes were. I
didn't know understanding my employees workmen's insurances that need to
be applied, working with conversation, liability.
Speaker 4 (08:00):
All E and O.
Speaker 2 (08:01):
If you're into advertisement, all those things on top on top.
Speaker 4 (08:06):
To stay in business. Legitimately, that's what you learned in
New Orleans.
Speaker 2 (08:10):
Right, you were in business, but you were not in
business because it got taken away because you didn't have
all the necessary safeguards in place.
Speaker 4 (08:20):
Now we're twenty fifteen.
Speaker 2 (08:22):
You contact me, say, Sean, I want to tell everybody
about me. I'm a personal finance coach. My business is
wealth coaching stratus fear. What is wealth coaching stratus fere?
Speaker 3 (08:32):
So the term stratusphere is pretty much a metaphor. And
what we've done is we've identified five areas of financial
development in each the lowest being financial failure. That's when
you have more money than month, right, the least desirable
stratus fere you want to be in. But the next
(08:52):
is financial health. That's where most of us find ourselves
paycheck to paycheck, we're able to meet those obligations. And
then the next stratosphere is financial fluency. That's what things
get better where you have more money than month. And
then you graduate to financial wealth. And the difference between
wealth and fluency is the accumulation of income producing assets
(09:15):
until finally you grow into financial independence, where your money
is making money. So with each one of those stratospheres
is a diameter of thought that.
Speaker 2 (09:23):
Determines you may strata is three or four, it should
be five, it's five.
Speaker 4 (09:28):
Stratus trist repeat.
Speaker 3 (09:29):
Them again, financial failure, financial health, financial fluency, financial wealth,
and financial independence.
Speaker 2 (09:38):
There you go, yes, sirs, I missed that count. Yeah,
and so it started financial failure because that's why a
lot of people are I'm in there.
Speaker 4 (09:46):
You know.
Speaker 2 (09:46):
The reality that's why a lot of people get to
the next step is homeless. You know, pride comes into play.
Don't have a plan to get out of that spiral.
Why do the average person live in that financial failure
status of finding themselves descending into that financial failure status.
Speaker 3 (10:08):
I think some of the major contributors is self esteem, certainly,
But then some of the more practical things or problems
is that we take advice from other poor people. And
that's the biggest mistake you can make in financial failure.
A lot of times people that have jobs at I
don't want to name one of the low income places
just to be derogatory, but they got those jobs from
(10:31):
friends that got them in there. And so when you're
not where you are, you have to do what you
haven't been doing. And so taking advice for people that
are in different stratusphees of different spaces is the biggest
way you can gain that quantum leap into your next
stratus feld.
Speaker 4 (10:48):
Let me ask you this.
Speaker 2 (10:48):
Let's talk about personal financial philosophy. Your personal financial philosophy.
He gave us the five points. But I'm just a
guy walking into your office. Brother, But j'ah hate and
I don't know. Man, I'm frustrated. I want to I
see people out there making money, but I'm not making
the money. I'm just an average guy working a forty
(11:09):
hour week job.
Speaker 4 (11:10):
Can you help me?
Speaker 1 (11:12):
Yes, emphatically.
Speaker 4 (11:13):
Yes.
Speaker 3 (11:14):
The first step is understanding that it's a process and
not a product. You can't come to anyone to buy
something to ameliorate your situation. It's a process and you
got to be committed to the process. And for a
lot of people, it begins by just looking at your situation.
You'd be surprised the people that just refuse to look
(11:34):
at where they stand. So you have to look at
it and receive some information that's objective to point you
in the right direction. And once you take a look,
nine times out of ten, it's not as bad as
you think it is.
Speaker 4 (11:48):
With the piso.
Speaker 5 (11:49):
What side of the table you're sitting there, brother, Okay,
cause I'm telling you I've had a headache on out
side of the table because it looked pretty bad. But
I think that what you're saying is don't allow the.
Speaker 4 (12:02):
Moment to overwhelm you. Emphatically, I always saying take that
deep breath.
Speaker 2 (12:08):
Absolutely, And also I think a key for me is
looking around and surrounding and see who's there to not
so much give you money, but that can support you,
that you can talk to, because a lot of people
fall victim to a lot of their calamity because they
don't have anybody to talk to, because they, like you
said earlier, a shame.
Speaker 4 (12:30):
I feel that they don't want to look bad.
Speaker 2 (12:32):
They don't want to feel that, hey, I'm a failure,
especially the families, especially the friends, especially coworkers. Now when
you're talking about your financial philosophy, I'm a person.
Speaker 4 (12:46):
I'm doing all right. I want to get into real estate.
Speaker 2 (12:50):
You know already told me your real estate story two
thousand and five, Katrina, send your packet, set you pack it.
Speaker 4 (12:57):
How do I get in the real estate?
Speaker 1 (13:00):
Mm hmm.
Speaker 3 (13:02):
My suggestion as far as real estate is to it
should be it should be pre approached with the capitalization
phase and you should not approach that unless you're in
you you pass financial fluency. So what what happens is
a lot of times. You know, there's a lot of
things out here no money down.
Speaker 1 (13:19):
And these are true philosophies.
Speaker 3 (13:21):
You can acquiesce real estate with creative financing with no
money down. But what the story that's not told is
you can't keep real estate with no money down. Real
estate is a heavy, financial intensive business and there's a uh,
there's a what you call it a factor. It allows
(13:43):
it acquires a lot of involvement. So the best thing
you can do is go through that capitalization phase, which
we know you beyond that, but I'm talking to the
average person. You need to spend time. What does that
mean capitalization? That's just saving money. A lot of people
from on saving money. But you can't approach an opportunity
without an opportunity fund. So you want to come to
(14:06):
the market well capitalized. That's my advice before you thinking
about real estate, first, focus on capitalizing your personal situation,
and it makes a big difference. When you come to
the market well capitalized. The first thing is you see
opportunities that other people don't see. And a lot of
times when you have money, things that you thought that
(14:26):
you wanted when you were broke, you don't want it
anymore said, And lastly, I say this, what does well
capitalized look like? That's a very subjective language, but we
do know that Warren Buffet's right hand man, Charles Munger,
he said, you got to get your first one hundred thousand,
do whatever you do to do that. And there's just
(14:49):
something that happened when you have that kind of liquid.
It's a different mental space, it's a different flip. So
you want to approach the market from position strength.
Speaker 1 (15:00):
That's my advice.
Speaker 6 (15:02):
Please don't go anywhere. We'll be right back with more
money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Masterclass hosted by Rashaan McDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making
(15:25):
Conversations Masterclass on Facebook, Twitter, and Instagram.
Speaker 2 (15:29):
I love people who say one hundred thousand like it's
like an everyday cash flow. You know, I love not
saying you but that's how people would money think. Well,
you know, you got to get there one hundred thousand
and then everything on rock and roll. But you understand
what they're saying. You have to plan to be successful.
You have to plan and so many people. This will
(15:51):
always get to me. People want to get into real estate, right, brother,
And so they sit up there and they go buy land,
but they have no way of saying and they forget
the one key thing about buying land taxes.
Speaker 1 (16:05):
They gonna come get those taxes.
Speaker 4 (16:07):
So if you.
Speaker 2 (16:07):
Bought land, that's what you was talking about having capitalization,
that's what you're talking about, having money. Because if you
are not in a position to make money off that
land or that house that you just bought, and you're
not remodeling, you're not trying to flip it, the taxman's
going to come and he's gonna come and want his money.
If he doesn't get his money, he's gonna find you
(16:30):
and find you. Eventually he's gonna take back something that
you invested in.
Speaker 1 (16:34):
And that's a key.
Speaker 2 (16:35):
Element that a lot of people don't think about when
they buy land.
Speaker 4 (16:39):
Land is key.
Speaker 2 (16:40):
If you buy land and there's nothing happening on that land,
that could become a liability very very quickly, correct, brother, absolutely,
And I want to really speak to the one hundred
thousand dollars because it may overwhelm someone that's in another stratosphere.
Speaker 3 (16:55):
And the point is that this is a process, not
a product. I'm speaking in a certain stratosphere when I
say a hundred thousand, and you have to respect the process.
So if you're in a financial health stratosphere, you don't
need to be thinking about real estate. You got to
be a thousand are before you can be a ten
thousand air before you can be one hundred thousand are.
So respect the process, know where you are, and grow organically.
(17:16):
It was I think Abraham Lincoln is credited as saying,
if he has six hours to chop down a tree,
he will spend four of them sharpening his axe. So
don't underscore preparation. It's not that nothing is happening. Something
is happening. You're developing so that when you approach the market,
you approach it from a position of strip.
Speaker 4 (17:34):
I love you man, you got it.
Speaker 2 (17:35):
You got those catchphrases down path made I love talking
to you man. What is the benefits of financial coaching
that you provide? What are the benefits?
Speaker 3 (17:45):
So it's being able to talk to someone kneecapped. To
kneecap is being able to hear from someone objectively, someone
to be able to feel what you feel.
Speaker 1 (17:54):
That's been where you've been at.
Speaker 3 (17:56):
Like I said, most time we take advice from people
that are on our same level. We need to hear
from someone objectively on our next steps. Now, financial coaching
is a very serious step. So if you're not serious,
you might want to read a book, you might want
to watch the YouTube page. But when you talk talking
about financial coaching, you're talking about you're really committed to
(18:16):
going to that next level.
Speaker 2 (18:18):
It's important that people understand. I'm talking to brother majah
Hid Muhammad. He's a personal financial coach located in Katie
right outside of Houston, Texas, and the name of the
company is Wealth Coaching Stratosphere.
Speaker 4 (18:32):
When we talk about three words, our clients can work
with us, that means us being you.
Speaker 2 (18:37):
How can a client come to you in those three
ways you benefit them.
Speaker 3 (18:41):
Absolutely, So I would say you can eat. If you
just have a one off question or concern, just shoot
me an email. And if you don't mind hearing an opinion,
I can't give you investment advice. You want to seek
those professionals out, but I would love to hear from
you where you are and share ideas with you. So
that's one way to just an email. If you lead
(19:02):
a financial group, or you promote financial literacy and you
want us to come on and share some concepts and
help develop that group.
Speaker 1 (19:10):
We talked to.
Speaker 3 (19:12):
Married circles where there's there's singles and you talk about
money and marriage and different things like that. Or if
you want direct financial coaching, visit us at wealth Coaching
statusphy dot com. Set up a free consultation and we'll
we'll put you in the right direction.
Speaker 4 (19:28):
I love the word free here that ladies and gentlemen,
he will give you.
Speaker 2 (19:33):
Like I said, man's not gonna give away his business career,
but he's willing to consult you, lay down a game plan,
find out if you guys can work together, then they
put a plan in place and you both can win.
But again he's being honest. A lot of people who
charge the world consultant got to pay him a fee,
whether it's nine ninety nine or fifty nine ninety five,
he's not saying that. He's saying that basically, come to him,
(19:56):
contact him. He'll lay down the whole process in a
complimentary fashion. Find out y'all can develop a work a relationship.
You get a work a relationship on port, then you
win together. Now let's talk about the personal financial condition
of middle income America, because that's where every politician who
runs for office talks.
Speaker 4 (20:16):
About middle income.
Speaker 2 (20:18):
And then we got tariffs sitting out there, brother Muhammad Man,
the president talking about, Hey, hang in there, it for
high I don't know if people buying chickens so they
can make produce their own egg The world is strange now.
(20:39):
You know when I go to pet code, they sell
the chickens. Okay, you know they're telling ways. They said, hey,
do your own eggs. That is not what I expected
this country to sound like a be like in twenty
twenty five.
Speaker 4 (20:52):
It may change because we're early now.
Speaker 2 (20:54):
But when you hear all your clients screaming, all your
clients being nervous, and you right there, man, you're the
finger in.
Speaker 4 (21:03):
The dam, what do you say, brother Muhammedan.
Speaker 3 (21:07):
So the good news is that the economy doesn't have
to be your economy. And that's why we teach personal finance.
And here's the outlook of the average American that after
take home pay, twenty percent is committed to transportation, another
thirty percent to housing, and then another forty percent is
(21:30):
committed to living expenses, which leaves ten percent which we're
trying to invest in mutual funds, real estate and what
we do. But if we would just give focus to
that ninety percent that is encumbered through financing. We need
to get the banks.
Speaker 4 (21:47):
Out of our lives.
Speaker 3 (21:48):
They are over help us, over committed, and underfunded. But
if you work to free up that cast, now you
create a tail wind that can really cause you to
change your financial reality.
Speaker 1 (22:02):
So I know we're taught to have the credit cards.
Speaker 3 (22:05):
I know we're taught to get the real estate forty
five percent because out doubt it looks so good, and
all these the cards and all these things. But we
just need to get those banks out of our lives,
free up that cash flow. Because look, if you have
a six figure income, your problem is you. And I
hate to sound so bunt like that, it's about living
within your means and being a partner with your partner
(22:28):
and coordinating your personal financial reality and you can really
change your your situation.
Speaker 4 (22:34):
Wow, now we were talking about banks.
Speaker 2 (22:36):
Now on your card, you sent me about infinite banking concept.
I've never heard that. What is that infinite banking concept?
Help me out there, brother Mahama. A gentleman named Nelson Nash.
Speaker 3 (22:51):
He identified a concept that he dubbed the infinite banking concept,
And through the infinite banking concept, we're taught to gain
control of the banking function in our lives. That's something
we really don't think about. But when we want to
buy a home, when we want to buy a car,
when we want an education, we have to go to
(23:14):
third party gatekeepers that will determine if we can have that.
In building your own banking, you learn how to use
a life insurance policy for its living benefits to accumulate
capital that can in turn allow you to access for
(23:34):
business opportunities. So I was my barber. We were in
a barbershop. He decided to leave and he sorted his
own barbershop. So we were in just getting a standard cut,
and he said, hey.
Speaker 4 (23:46):
You need a chair in another barbershop. Yeah.
Speaker 3 (23:49):
So yeah, my barber was in a barbershop and he
decided to go do his own thing. So yet So yeah,
so I'm at his chair in a barbershop and we're talking.
He said, hey, you know, the barbershop leftis up for sale,
and so I said, oh, that's interesting. Why the manager
of the barbershop, while he didn't buy it, he said
he don't have that type of money.
Speaker 1 (24:08):
I said, you don't want to buy it. He said,
if I had the money, I would buy it. So
then light bulb.
Speaker 3 (24:13):
You know, opportunity dropped in my head because I had resources. Though,
that's the point I'm trying to make. Because I had capital,
an opportunity came to me and I was able to
access that capital without permission from anyone. And this is
the power of the infinite banking concept. So the infinite
banking concept is a course. It should be approached as
(24:34):
a course, and it should and you should be under
the tutelage of a professional to set it up. But
once it's set up, it's an intergenerational opportunity to gain
and strengthen your finances and have living benefits. It's just
a phenomenal approach to wealth building and to functioning and
building a personal economy.
Speaker 2 (24:54):
That's a personal or As a financial literacy expert, what
did you get your background to learn and what courses
did you take to get you to this point that
be so literate a literal or literle this level of
expert advice that you're able to give us.
Speaker 1 (25:09):
I would say that the school of hard Nots is
a big, uh big, my biggest university.
Speaker 3 (25:17):
But going into the fields, my experience in real estate,
I learned a ton being in the insurance space, I
learned the son a lot of self study. I've been
a tutelage under one of Nelson's top mentors, so a
lot of great mentors and all that. But you can't
underscore mentorship. You cannot underscore mentorship. And you know what's
(25:39):
a lot that's not taught is that the game is sold,
not told. There's a lot of great information you can
get from YouTube, but when you really want to take
it to the next level, you gotta be willing to pay.
Speaker 1 (25:49):
And that's what I've done.
Speaker 3 (25:50):
I've paid for a lot of coaching and mentorship and
it's brought me to the next level.
Speaker 2 (25:54):
I've heard this terminal a lot. Can you break free
from debt through? The game is situated where you got
to stay in debt? Correct, brother Muhammad. So when people's
call over I used that term debt free, that's not real.
Speaker 3 (26:13):
Correct, Know that that freedom is real, it is attainable,
and it is it's a beautiful space to be in.
Speaker 1 (26:23):
I mean, now you over, you tell.
Speaker 2 (26:26):
Me right, and now you don't have a credit card
bit that don't have a credit card, don't have a car, note,
don't have a house.
Speaker 1 (26:33):
Note.
Speaker 3 (26:36):
Yeah, it's it's it's a beautiful space. But now it
comes with a price. It comes with a price for
the average person. It may take two to seven years
to accomplish that. And I don't want to paint a
rosy picture. But all I can say is it is
sure worth it. It is show worth it. I remember
when we were on our journey, I asked my wife
how much was her student loans.
Speaker 1 (26:58):
She said fifty thousand, and so we got into an argument.
Fifty thousand. She said, yeah, you told me to the first.
I said, I didn't tell you to the third. We
going back and forth, you know what I'm saying.
Speaker 3 (27:07):
So once cooler hands prevailed, I said, all right, all right,
we need to win it.
Speaker 1 (27:12):
We don't do it together.
Speaker 4 (27:13):
I love It was like.
Speaker 1 (27:16):
You've never heard that. Yeah, no, no, At that time,
that was huge for us. That was huge.
Speaker 4 (27:22):
And so it's like sometimes because I'm married too, and
sometimes my wife will say something, I go and she goes,
I've told you that.
Speaker 3 (27:29):
Right, right right, But here here's the kicks part of Shane.
After cooler hands prevailed, we said, okay, let's attack it.
We pulled the credit report. The real number was seventy
two thousand. Almost fell out my shit. I was like,
oh my god. It took everything. But you know, we
stayed the course. We fought through it, and today that's
(27:51):
a major part that that binds us that journey. So, uh, yeah,
it is attainable. It is a process. You linked with
the right community, we can help you accomplish that. It's
a it's a it's a phenomenal reality.
Speaker 4 (28:04):
Yeah.
Speaker 2 (28:04):
Because now with you, my brother, how do I create
that financial game plan with your brother Mohammed?
Speaker 4 (28:11):
You you're my personal financial coach. Now I've consulted with you.
Speaker 1 (28:15):
It's free.
Speaker 2 (28:16):
So now I'm going I like this brother, he got everything,
He's saying all the right things to me.
Speaker 4 (28:22):
How do you create that game plan for me?
Speaker 3 (28:24):
Well, we're gonna we're gonna start with a discovery call
and we're just gonna open up your financial situation and
let you see it for yourself. Everything. We're gonna look
at all the ins and out. And once we look
at all the ins and out, we're gonna give you
a game plan that starts from scratch that allows you
the one to get out of the situation you in
to begin to capitalize. The first phase of capitalization is
(28:46):
an emergency fund. The second phase is a homeowner down
payment unless you already have it, and the third phase
is building up that opportunity fund and then show you
how to appost the market correctly. So I'm giving a
over view but trying to give me some insight to
how we put you on a plan and work with
you a lot of to ask those questions and work
(29:08):
through that process.
Speaker 2 (29:10):
The process is this, if I sit down with you,
do I need life insurance? Brother Mohammad? Do I need
life insurance? Does the everyday person need life insurance?
Speaker 3 (29:23):
So personal finance is personal, so there needs to be
a personal assessment to answer that question. Generally speaking, yes,
there's some one off situations where you're single, no children,
nobody's depending on you. You may get away with a
burial policy you know you don't have any assets or whatever.
(29:44):
But generally speaking, we need to get into the business
of insurance to promote this intergenerational exchange of wealth so
that we can compete with our counterparts. So we strongly
encourage you to get that insurance policy in place.
Speaker 2 (29:58):
Absolutely, I'll tell you this has been fun, fun and
educational for me. I love your personality, I love your
approach to this. How do we in touch with you,
brother Muhammad.
Speaker 3 (30:09):
There's a few ways you can go to Wealth coachingstratusphere
dot com. You can email me at support at wealth
Coaching stratusphere dot com. I'm on Instagram at Wealth Coaching
stratusphere and uh yeah, I just love to connect with you.
Send me an email, let me know what your questions are,
concerns though, and however we can serve.
Speaker 1 (30:28):
You, we'd be happy to do so.
Speaker 4 (30:30):
Well.
Speaker 2 (30:30):
He's up there doing big things down and Katie, Texas,
which is right outside of Houston, Texas, my hometown. He's
a personal finance coach, a wealth coaching stratosphere.
Speaker 4 (30:40):
He's brother Majia Head Mohammed.
Speaker 2 (30:43):
Thank you for coming on Money Making Conversation Masterclass, my friend, Thank.
Speaker 1 (30:46):
You, brother sim We'll talk to yes, sir.
Speaker 2 (30:50):
This has been another edition of Money Making Conversation Masterclass
posted by me Rashaun McDonald. Thank you to our guests
on the show today and thank you. I'll listen to
the audience now if you want to listen to any episode.
I want to be a guest on the show. Visit
Moneymaking Conversations dot com. Our social media handle is Moneymaking Conversation.
Join us next week and remember to always leave with
(31:11):
your gifts.
Speaker 4 (31:12):
Keep winning.
Hi.
Speaker 2 (00:00):
I am Rashan McDonald host the weekly Money Making Conversation
Masterclass show. The interviews and information that this show provides
are for everyone. It's time to stop reading other people's
success stories and start living your own. If you want
to be a guest on my show, please visit our website,
Moneymakingconversations dot com and click to be a guest buddy.
(00:21):
First submit and information will come directly to me. Now
let's get this show started. My guest is a personal
financial coach, a wealth coaching Stratosphere. They provide expert financial coaching.
They help you take control of your money and build
a strong foundation for your future. Whether you need to
break free from debt, create a financial game plan, develop
(00:42):
better money habits, We're here to support you. That's their model.
Please welcome the Money Making Conversations Masterclass, Brother majah Hid Mohammad.
Speaker 3 (00:52):
How you dog, Brother Majiat, I'm doing great by God's
grace and I'm happy to be here with you.
Speaker 4 (00:57):
Brother Rashon.
Speaker 2 (00:58):
Okay, now, you're basically Houston, Texas, born and raised in Houston, Texas.
So when I saw your information come through my guests
be Against portal, I jumped on it. Immediately tell me
what you're doing down in Houston, Texas, Brother.
Speaker 3 (01:09):
JAHI, Well, we are committed to assisting people in the
personal financial space. My expertise is both the real estate,
personal finance, and insurance as well. So we're helping young
families or people in general, you know, to get off
to a fast start and not duplicate those mistakes that
were originated by myself coming up and trying to develop
(01:29):
my personal financial portfolio.
Speaker 4 (01:32):
Well, I always say you learn from your mistakes. You
put it out there first.
Speaker 2 (01:36):
Brother, But Jahid, what was some of the mistakes you
made that you don't want us to make?
Speaker 4 (01:41):
Give us a couple of them.
Speaker 3 (01:43):
Well, let me start from the beginning. I think as
I grew up, the story was told to me. My
dad went to the military and he was sending home
checks to help take care of the family. At that time.
You know, they were extremely poor, so it was a necessity.
And he's sending CHEX every month, every pay peer. When
he got out of the military, unbeknownst to him, my grandmother,
(02:04):
his mother, never cashed any of those checks, so she
gave the money back to him and he used that
to buy his first duplex, and that laid the foundation
for his financial future. In mimicking fashion, I joined the military,
but I didn't need to send checks. We were in
a different time, although I'm sure he would have taken
my checks, but I was saving the money. And when
(02:27):
I came home from the military, my father helped me
find my first duplex, and it was from that duplex
that was the launching pad.
Speaker 1 (02:35):
I got married. A few years later.
Speaker 3 (02:38):
I identified this thing called equity. I pulled out over
twenty thousand dollars in equity and I immediately start. They
called it the Bird technique. Back then, there was no bird,
there was no YouTube and everything like that. But we
essentially I was buying real estate, renovating it, renting it,
our buying it, refinancing it, renting it out that.
Speaker 1 (03:01):
Whole bird method.
Speaker 3 (03:02):
So we did that UNTI I massed a million dollar portfolio.
I thought I had enough to leave my W two job.
I left the W two job. Three months later, Hurricane
Katrina hit the New Orleans area and at that time
none of my portfolio.
Speaker 5 (03:20):
Year was that.
Speaker 4 (03:21):
What year was that? Just remind everybody that the year
hurricane in two thousand and five.
Speaker 3 (03:25):
Yes, sir, yes, sir, so yeah, it hit us and
twenty years ago. Yeah, yeah, yeah, twenty years ago.
Speaker 1 (03:31):
And so at that time I wasn't covered.
Speaker 3 (03:37):
It just it wasn't required and a devastation like that
never happened before, so there was no flood insurance. So
we literally had these decimated properties with no money to
repair it. And I remember being on a phone with
a one of the I was in the middle of
a renovation at that time, and the lender was chiding me.
He was like, look, I need you to get back
(03:57):
on it and rebuild this property and rent it out.
I'm like, I don't think you understand. It's not my property.
There's no there's no houses for blocks and blocks. The
whole community was gone. So that level of devastation was
really unfathomable to all parties involved. So after suffering that,
went to Houston to try to regroup and I said,
(04:19):
I'm gonna come back and recommit to building my portfolio.
And then in two thousand and eight and behold, we
know what happened with the real estate market. And that
was kind of like the nail that kind of sealed
the coffin. So from there I kind of hit myself
over the head with that invisible Hamm. I was blaming myself,
thinking I wasn't what I thought I was, And for
(04:40):
several years I just went on and thought I was
a failure as it relates in the financial space.
Speaker 1 (04:45):
But there was a net unique circumstance that turned things around.
Speaker 6 (04:49):
You know.
Speaker 3 (04:49):
I got a phone call from my wife. We had
one car at the time, and I was at work,
and she said, she said, bet they turned off the water.
So I moved some things around. I said, look, go
pay this water bill. So she literally walked to the
utility company to pay that water bill before the children
could come back home and realize what had happened. And
(05:10):
I remember looking at my wife in the face and
I said, back, this next chapter of our life, I
promise you We're gonna have a lot of problems, but
it won't be a financial one. And so I committed
myself to turning our situation around. And that was the
impetus to where I knew I needed to do something different.
Speaker 1 (05:28):
And that's really really.
Speaker 3 (05:30):
The motivator for helping other families to not experience that
experience that I felt in that moment.
Speaker 4 (05:36):
What year was that, brother, Majahad.
Speaker 3 (05:39):
So you have two thousand and eight was from the
collaption of the home mortgage that was collapsing the house
Katrina two thousand and eight, collapse of the home mortgages.
Speaker 4 (05:50):
And then you had.
Speaker 3 (05:52):
At least at least seven years that I was just
doing ins and out odd things.
Speaker 1 (05:59):
I drove, but drove this. So yeah, So what's seven
on top of two thousand and eight?
Speaker 4 (06:04):
Twenty fifteen?
Speaker 1 (06:05):
Okay, So yeah, we're in that area at this point.
Speaker 4 (06:09):
Okay, cool. So now the next ten years you got
a plan in place?
Speaker 1 (06:12):
Absolutely okay?
Speaker 4 (06:13):
And what was that plan?
Speaker 2 (06:15):
And why did you feel the need to do because
you know you already messed up in New Orleans? Did
that properties got washed away by Mother Nature Hurricane Katrina?
Why would you go back into real estate after that
level of devastation?
Speaker 4 (06:31):
Brother, majority, Well, here's what.
Speaker 3 (06:33):
I learned, and I think a lot of times, what
we do in our community, we try to lead with business,
looking for business to solve our personal financial situation. And
the light bulb that came up with me is that
if you soalve your personal financial situation, you can grow
organically and come to the market in a different way.
(06:56):
So I prefer to come to the market as a
well capitalizing as opposed to an undercapitalized investor. And when
you prioritize your personal finance, accualage and grow according to
stage by stage, you'll eventually reach a point to where
you can come to the market and be more productive.
Because the big biggest lesson I learned was that leverage
(07:19):
without liquidity is stupidosy, and so at that time I
was real estate rich but cash poor, and so I
coming around a second time, I overemphasizing controlling my personal
financial situation so that I can approach the market from
a totally different perspective.
Speaker 4 (07:34):
So basically maintaining control with a plan.
Speaker 2 (07:37):
Absolutely, So most people get out there, and I will
tell you when I heard my first business, I just
had a dream.
Speaker 4 (07:44):
I didn't have a plan.
Speaker 2 (07:46):
I didn't know the severity of what taxes were. I
didn't know understanding my employees workmen's insurances that need to
be applied, working with conversation, liability.
Speaker 4 (08:00):
All E and O.
Speaker 2 (08:01):
If you're into advertisement, all those things on top on top.
Speaker 4 (08:06):
To stay in business. Legitimately, that's what you learned in
New Orleans.
Speaker 2 (08:10):
Right, you were in business, but you were not in
business because it got taken away because you didn't have
all the necessary safeguards in place.
Speaker 4 (08:20):
Now we're twenty fifteen.
Speaker 2 (08:22):
You contact me, say, Sean, I want to tell everybody
about me. I'm a personal finance coach. My business is
wealth coaching stratus fear. What is wealth coaching stratus fere?
Speaker 3 (08:32):
So the term stratusphere is pretty much a metaphor. And
what we've done is we've identified five areas of financial
development in each the lowest being financial failure. That's when
you have more money than month, right, the least desirable
stratus fere you want to be in. But the next
(08:52):
is financial health. That's where most of us find ourselves
paycheck to paycheck, we're able to meet those obligations. And
then the next stratosphere is financial fluency. That's what things
get better where you have more money than month. And
then you graduate to financial wealth. And the difference between
wealth and fluency is the accumulation of income producing assets
(09:15):
until finally you grow into financial independence, where your money
is making money. So with each one of those stratospheres
is a diameter of thought that.
Speaker 2 (09:23):
Determines you may strata is three or four, it should
be five, it's five.
Speaker 4 (09:28):
Stratus trist repeat.
Speaker 3 (09:29):
Them again, financial failure, financial health, financial fluency, financial wealth,
and financial independence.
Speaker 2 (09:38):
There you go, yes, sirs, I missed that count. Yeah,
and so it started financial failure because that's why a
lot of people are I'm in there.
Speaker 4 (09:46):
You know.
Speaker 2 (09:46):
The reality that's why a lot of people get to
the next step is homeless. You know, pride comes into play.
Don't have a plan to get out of that spiral.
Why do the average person live in that financial failure
status of finding themselves descending into that financial failure status.
Speaker 3 (10:08):
I think some of the major contributors is self esteem, certainly,
But then some of the more practical things or problems
is that we take advice from other poor people. And
that's the biggest mistake you can make in financial failure.
A lot of times people that have jobs at I
don't want to name one of the low income places
just to be derogatory, but they got those jobs from
(10:31):
friends that got them in there. And so when you're
not where you are, you have to do what you
haven't been doing. And so taking advice for people that
are in different stratusphees of different spaces is the biggest
way you can gain that quantum leap into your next
stratus feld.
Speaker 4 (10:48):
Let me ask you this.
Speaker 2 (10:48):
Let's talk about personal financial philosophy. Your personal financial philosophy.
He gave us the five points. But I'm just a
guy walking into your office. Brother, But j'ah hate and
I don't know. Man, I'm frustrated. I want to I
see people out there making money, but I'm not making
the money. I'm just an average guy working a forty
(11:09):
hour week job.
Speaker 4 (11:10):
Can you help me?
Speaker 1 (11:12):
Yes, emphatically.
Speaker 4 (11:13):
Yes.
Speaker 3 (11:14):
The first step is understanding that it's a process and
not a product. You can't come to anyone to buy
something to ameliorate your situation. It's a process and you
got to be committed to the process. And for a
lot of people, it begins by just looking at your situation.
You'd be surprised the people that just refuse to look
(11:34):
at where they stand. So you have to look at
it and receive some information that's objective to point you
in the right direction. And once you take a look,
nine times out of ten, it's not as bad as
you think it is.
Speaker 4 (11:48):
With the piso.
Speaker 5 (11:49):
What side of the table you're sitting there, brother, Okay,
cause I'm telling you I've had a headache on out
side of the table because it looked pretty bad. But
I think that what you're saying is don't allow the.
Speaker 4 (12:02):
Moment to overwhelm you. Emphatically, I always saying take that
deep breath.
Speaker 2 (12:08):
Absolutely, And also I think a key for me is
looking around and surrounding and see who's there to not
so much give you money, but that can support you,
that you can talk to, because a lot of people
fall victim to a lot of their calamity because they
don't have anybody to talk to, because they, like you
said earlier, a shame.
Speaker 4 (12:30):
I feel that they don't want to look bad.
Speaker 2 (12:32):
They don't want to feel that, hey, I'm a failure,
especially the families, especially the friends, especially coworkers. Now when
you're talking about your financial philosophy, I'm a person.
Speaker 4 (12:46):
I'm doing all right. I want to get into real estate.
Speaker 2 (12:50):
You know already told me your real estate story two
thousand and five, Katrina, send your packet, set you pack it.
Speaker 4 (12:57):
How do I get in the real estate?
Speaker 1 (13:00):
Mm hmm.
Speaker 3 (13:02):
My suggestion as far as real estate is to it
should be it should be pre approached with the capitalization
phase and you should not approach that unless you're in
you you pass financial fluency. So what what happens is
a lot of times. You know, there's a lot of
things out here no money down.
Speaker 1 (13:19):
And these are true philosophies.
Speaker 3 (13:21):
You can acquiesce real estate with creative financing with no
money down. But what the story that's not told is
you can't keep real estate with no money down. Real
estate is a heavy, financial intensive business and there's a uh,
there's a what you call it a factor. It allows
(13:43):
it acquires a lot of involvement. So the best thing
you can do is go through that capitalization phase, which
we know you beyond that, but I'm talking to the
average person. You need to spend time. What does that
mean capitalization? That's just saving money. A lot of people
from on saving money. But you can't approach an opportunity
without an opportunity fund. So you want to come to
(14:06):
the market well capitalized. That's my advice before you thinking
about real estate, first, focus on capitalizing your personal situation,
and it makes a big difference. When you come to
the market well capitalized. The first thing is you see
opportunities that other people don't see. And a lot of
times when you have money, things that you thought that
(14:26):
you wanted when you were broke, you don't want it
anymore said, And lastly, I say this, what does well
capitalized look like? That's a very subjective language, but we
do know that Warren Buffet's right hand man, Charles Munger,
he said, you got to get your first one hundred thousand,
do whatever you do to do that. And there's just
(14:49):
something that happened when you have that kind of liquid.
It's a different mental space, it's a different flip. So
you want to approach the market from position strength.
Speaker 1 (15:00):
That's my advice.
Speaker 6 (15:02):
Please don't go anywhere. We'll be right back with more
money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Masterclass hosted by Rashaan McDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making
(15:25):
Conversations Masterclass on Facebook, Twitter, and Instagram.
Speaker 2 (15:29):
I love people who say one hundred thousand like it's
like an everyday cash flow. You know, I love not
saying you but that's how people would money think. Well,
you know, you got to get there one hundred thousand
and then everything on rock and roll. But you understand
what they're saying. You have to plan to be successful.
You have to plan and so many people. This will
(15:51):
always get to me. People want to get into real estate, right, brother,
And so they sit up there and they go buy land,
but they have no way of saying and they forget
the one key thing about buying land taxes.
Speaker 1 (16:05):
They gonna come get those taxes.
Speaker 4 (16:07):
So if you.
Speaker 2 (16:07):
Bought land, that's what you was talking about having capitalization,
that's what you're talking about, having money. Because if you
are not in a position to make money off that
land or that house that you just bought, and you're
not remodeling, you're not trying to flip it, the taxman's
going to come and he's gonna come and want his money.
If he doesn't get his money, he's gonna find you
(16:30):
and find you. Eventually he's gonna take back something that
you invested in.
Speaker 1 (16:34):
And that's a key.
Speaker 2 (16:35):
Element that a lot of people don't think about when
they buy land.
Speaker 4 (16:39):
Land is key.
Speaker 2 (16:40):
If you buy land and there's nothing happening on that land,
that could become a liability very very quickly, correct, brother, absolutely,
And I want to really speak to the one hundred
thousand dollars because it may overwhelm someone that's in another stratosphere.
Speaker 3 (16:55):
And the point is that this is a process, not
a product. I'm speaking in a certain stratosphere when I
say a hundred thousand, and you have to respect the process.
So if you're in a financial health stratosphere, you don't
need to be thinking about real estate. You got to
be a thousand are before you can be a ten
thousand air before you can be one hundred thousand are.
So respect the process, know where you are, and grow organically.
(17:16):
It was I think Abraham Lincoln is credited as saying,
if he has six hours to chop down a tree,
he will spend four of them sharpening his axe. So
don't underscore preparation. It's not that nothing is happening. Something
is happening. You're developing so that when you approach the market,
you approach it from a position of strip.
Speaker 4 (17:34):
I love you man, you got it.
Speaker 2 (17:35):
You got those catchphrases down path made I love talking
to you man. What is the benefits of financial coaching
that you provide? What are the benefits?
Speaker 3 (17:45):
So it's being able to talk to someone kneecapped. To
kneecap is being able to hear from someone objectively, someone
to be able to feel what you feel.
Speaker 1 (17:54):
That's been where you've been at.
Speaker 3 (17:56):
Like I said, most time we take advice from people
that are on our same level. We need to hear
from someone objectively on our next steps. Now, financial coaching
is a very serious step. So if you're not serious,
you might want to read a book, you might want
to watch the YouTube page. But when you talk talking
about financial coaching, you're talking about you're really committed to
(18:16):
going to that next level.
Speaker 2 (18:18):
It's important that people understand. I'm talking to brother majah
Hid Muhammad. He's a personal financial coach located in Katie
right outside of Houston, Texas, and the name of the
company is Wealth Coaching Stratosphere.
Speaker 4 (18:32):
When we talk about three words, our clients can work
with us, that means us being you.
Speaker 2 (18:37):
How can a client come to you in those three
ways you benefit them.
Speaker 3 (18:41):
Absolutely, So I would say you can eat. If you
just have a one off question or concern, just shoot
me an email. And if you don't mind hearing an opinion,
I can't give you investment advice. You want to seek
those professionals out, but I would love to hear from
you where you are and share ideas with you. So
that's one way to just an email. If you lead
(19:02):
a financial group, or you promote financial literacy and you
want us to come on and share some concepts and
help develop that group.
Speaker 1 (19:10):
We talked to.
Speaker 3 (19:12):
Married circles where there's there's singles and you talk about
money and marriage and different things like that. Or if
you want direct financial coaching, visit us at wealth Coaching
statusphy dot com. Set up a free consultation and we'll
we'll put you in the right direction.
Speaker 4 (19:28):
I love the word free here that ladies and gentlemen,
he will give you.
Speaker 2 (19:33):
Like I said, man's not gonna give away his business career,
but he's willing to consult you, lay down a game plan,
find out if you guys can work together, then they
put a plan in place and you both can win.
But again he's being honest. A lot of people who
charge the world consultant got to pay him a fee,
whether it's nine ninety nine or fifty nine ninety five,
he's not saying that. He's saying that basically, come to him,
(19:56):
contact him. He'll lay down the whole process in a
complimentary fashion. Find out y'all can develop a work a relationship.
You get a work a relationship on port, then you
win together. Now let's talk about the personal financial condition
of middle income America, because that's where every politician who
runs for office talks.
Speaker 4 (20:16):
About middle income.
Speaker 2 (20:18):
And then we got tariffs sitting out there, brother Muhammad Man,
the president talking about, Hey, hang in there, it for
high I don't know if people buying chickens so they
can make produce their own egg The world is strange now.
(20:39):
You know when I go to pet code, they sell
the chickens. Okay, you know they're telling ways. They said, hey,
do your own eggs. That is not what I expected
this country to sound like a be like in twenty
twenty five.
Speaker 4 (20:52):
It may change because we're early now.
Speaker 2 (20:54):
But when you hear all your clients screaming, all your
clients being nervous, and you right there, man, you're the
finger in.
Speaker 4 (21:03):
The dam, what do you say, brother Muhammedan.
Speaker 3 (21:07):
So the good news is that the economy doesn't have
to be your economy. And that's why we teach personal finance.
And here's the outlook of the average American that after
take home pay, twenty percent is committed to transportation, another
thirty percent to housing, and then another forty percent is
(21:30):
committed to living expenses, which leaves ten percent which we're
trying to invest in mutual funds, real estate and what
we do. But if we would just give focus to
that ninety percent that is encumbered through financing. We need
to get the banks.
Speaker 4 (21:47):
Out of our lives.
Speaker 3 (21:48):
They are over help us, over committed, and underfunded. But
if you work to free up that cast, now you
create a tail wind that can really cause you to
change your financial reality.
Speaker 1 (22:02):
So I know we're taught to have the credit cards.
Speaker 3 (22:05):
I know we're taught to get the real estate forty
five percent because out doubt it looks so good, and
all these the cards and all these things. But we
just need to get those banks out of our lives,
free up that cash flow. Because look, if you have
a six figure income, your problem is you. And I
hate to sound so bunt like that, it's about living
within your means and being a partner with your partner
(22:28):
and coordinating your personal financial reality and you can really
change your your situation.
Speaker 4 (22:34):
Wow, now we were talking about banks.
Speaker 2 (22:36):
Now on your card, you sent me about infinite banking concept.
I've never heard that. What is that infinite banking concept?
Help me out there, brother Mahama. A gentleman named Nelson Nash.
Speaker 3 (22:51):
He identified a concept that he dubbed the infinite banking concept,
And through the infinite banking concept, we're taught to gain
control of the banking function in our lives. That's something
we really don't think about. But when we want to
buy a home, when we want to buy a car,
when we want an education, we have to go to
(23:14):
third party gatekeepers that will determine if we can have that.
In building your own banking, you learn how to use
a life insurance policy for its living benefits to accumulate
capital that can in turn allow you to access for
(23:34):
business opportunities. So I was my barber. We were in
a barbershop. He decided to leave and he sorted his
own barbershop. So we were in just getting a standard cut,
and he said, hey.
Speaker 4 (23:46):
You need a chair in another barbershop. Yeah.
Speaker 3 (23:49):
So yeah, my barber was in a barbershop and he
decided to go do his own thing. So yet So yeah,
so I'm at his chair in a barbershop and we're talking.
He said, hey, you know, the barbershop leftis up for sale,
and so I said, oh, that's interesting. Why the manager
of the barbershop, while he didn't buy it, he said
he don't have that type of money.
Speaker 1 (24:08):
I said, you don't want to buy it. He said,
if I had the money, I would buy it. So
then light bulb.
Speaker 3 (24:13):
You know, opportunity dropped in my head because I had resources. Though,
that's the point I'm trying to make. Because I had capital,
an opportunity came to me and I was able to
access that capital without permission from anyone. And this is
the power of the infinite banking concept. So the infinite
banking concept is a course. It should be approached as
(24:34):
a course, and it should and you should be under
the tutelage of a professional to set it up. But
once it's set up, it's an intergenerational opportunity to gain
and strengthen your finances and have living benefits. It's just
a phenomenal approach to wealth building and to functioning and
building a personal economy.
Speaker 2 (24:54):
That's a personal or As a financial literacy expert, what
did you get your background to learn and what courses
did you take to get you to this point that
be so literate a literal or literle this level of
expert advice that you're able to give us.
Speaker 1 (25:09):
I would say that the school of hard Nots is
a big, uh big, my biggest university.
Speaker 3 (25:17):
But going into the fields, my experience in real estate,
I learned a ton being in the insurance space, I
learned the son a lot of self study. I've been
a tutelage under one of Nelson's top mentors, so a
lot of great mentors and all that. But you can't
underscore mentorship. You cannot underscore mentorship. And you know what's
(25:39):
a lot that's not taught is that the game is sold,
not told. There's a lot of great information you can
get from YouTube, but when you really want to take
it to the next level, you gotta be willing to pay.
Speaker 1 (25:49):
And that's what I've done.
Speaker 3 (25:50):
I've paid for a lot of coaching and mentorship and
it's brought me to the next level.
Speaker 2 (25:54):
I've heard this terminal a lot. Can you break free
from debt through? The game is situated where you got
to stay in debt? Correct, brother Muhammad. So when people's
call over I used that term debt free, that's not real.
Speaker 3 (26:13):
Correct, Know that that freedom is real, it is attainable,
and it is it's a beautiful space to be in.
Speaker 1 (26:23):
I mean, now you over, you tell.
Speaker 2 (26:26):
Me right, and now you don't have a credit card
bit that don't have a credit card, don't have a car, note,
don't have a house.
Speaker 1 (26:33):
Note.
Speaker 3 (26:36):
Yeah, it's it's it's a beautiful space. But now it
comes with a price. It comes with a price for
the average person. It may take two to seven years
to accomplish that. And I don't want to paint a
rosy picture. But all I can say is it is
sure worth it. It is show worth it. I remember
when we were on our journey, I asked my wife
how much was her student loans.
Speaker 1 (26:58):
She said fifty thousand, and so we got into an argument.
Fifty thousand. She said, yeah, you told me to the first.
I said, I didn't tell you to the third. We
going back and forth, you know what I'm saying.
Speaker 3 (27:07):
So once cooler hands prevailed, I said, all right, all right,
we need to win it.
Speaker 1 (27:12):
We don't do it together.
Speaker 4 (27:13):
I love It was like.
Speaker 1 (27:16):
You've never heard that. Yeah, no, no, At that time,
that was huge for us. That was huge.
Speaker 4 (27:22):
And so it's like sometimes because I'm married too, and
sometimes my wife will say something, I go and she goes,
I've told you that.
Speaker 3 (27:29):
Right, right right, But here here's the kicks part of Shane.
After cooler hands prevailed, we said, okay, let's attack it.
We pulled the credit report. The real number was seventy
two thousand. Almost fell out my shit. I was like,
oh my god. It took everything. But you know, we
stayed the course. We fought through it, and today that's
(27:51):
a major part that that binds us that journey. So, uh, yeah,
it is attainable. It is a process. You linked with
the right community, we can help you accomplish that. It's
a it's a it's a phenomenal reality.
Speaker 4 (28:04):
Yeah.
Speaker 2 (28:04):
Because now with you, my brother, how do I create
that financial game plan with your brother Mohammed?
Speaker 4 (28:11):
You you're my personal financial coach. Now I've consulted with you.
Speaker 1 (28:15):
It's free.
Speaker 2 (28:16):
So now I'm going I like this brother, he got everything,
He's saying all the right things to me.
Speaker 4 (28:22):
How do you create that game plan for me?
Speaker 3 (28:24):
Well, we're gonna we're gonna start with a discovery call
and we're just gonna open up your financial situation and
let you see it for yourself. Everything. We're gonna look
at all the ins and out. And once we look
at all the ins and out, we're gonna give you
a game plan that starts from scratch that allows you
the one to get out of the situation you in
to begin to capitalize. The first phase of capitalization is
(28:46):
an emergency fund. The second phase is a homeowner down
payment unless you already have it, and the third phase
is building up that opportunity fund and then show you
how to appost the market correctly. So I'm giving a
over view but trying to give me some insight to
how we put you on a plan and work with
you a lot of to ask those questions and work
(29:08):
through that process.
Speaker 2 (29:10):
The process is this, if I sit down with you,
do I need life insurance? Brother Mohammad? Do I need
life insurance? Does the everyday person need life insurance?
Speaker 3 (29:23):
So personal finance is personal, so there needs to be
a personal assessment to answer that question. Generally speaking, yes,
there's some one off situations where you're single, no children,
nobody's depending on you. You may get away with a
burial policy you know you don't have any assets or whatever.
(29:44):
But generally speaking, we need to get into the business
of insurance to promote this intergenerational exchange of wealth so
that we can compete with our counterparts. So we strongly
encourage you to get that insurance policy in place.
Speaker 2 (29:58):
Absolutely, I'll tell you this has been fun, fun and
educational for me. I love your personality, I love your
approach to this. How do we in touch with you,
brother Muhammad.
Speaker 3 (30:09):
There's a few ways you can go to Wealth coachingstratusphere
dot com. You can email me at support at wealth
Coaching stratusphere dot com. I'm on Instagram at Wealth Coaching
stratusphere and uh yeah, I just love to connect with you.
Send me an email, let me know what your questions are,
concerns though, and however we can serve.
Speaker 1 (30:28):
You, we'd be happy to do so.
Speaker 4 (30:30):
Well.
Speaker 2 (30:30):
He's up there doing big things down and Katie, Texas,
which is right outside of Houston, Texas, my hometown. He's
a personal finance coach, a wealth coaching stratosphere.
Speaker 4 (30:40):
He's brother Majia Head Mohammed.
Speaker 2 (30:43):
Thank you for coming on Money Making Conversation Masterclass, my friend, Thank.
Speaker 1 (30:46):
You, brother sim We'll talk to yes, sir.
Speaker 2 (30:50):
This has been another edition of Money Making Conversation Masterclass
posted by me Rashaun McDonald. Thank you to our guests
on the show today and thank you. I'll listen to
the audience now if you want to listen to any episode.
I want to be a guest on the show. Visit
Moneymaking Conversations dot com. Our social media handle is Moneymaking Conversation.
Join us next week and remember to always leave with
(31:11):
your gifts.
Speaker 4 (31:12):
Keep winning.
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