Latest / The Table with Anthony ONeal / If You Don't Have These 3 Accounts, You'll Stay Broke! (By Income Level)

Transcript

If You Don't Have These 3 Accounts, You'll Stay Broke! (By Income Level) · The Table with Anthony ONeal

0:00
[SPEAKER_00]: Most people think that building wealth is about making a lot of money.
0:07
[SPEAKER_00]: But what's the truth?
0:09
[SPEAKER_00]: We got to ask ourselves this question up front.
0:14
[SPEAKER_00]: Let me tell you truth.
0:17
[SPEAKER_00]: If you don't have these three buckets set up, you'll always be one emergency away from being broke or one emergency away.
0:28
[SPEAKER_00]: from living paycheck to paycheck.
0:30
[SPEAKER_00]: No matter the size of your income, let's get real for a minute.
0:35
[SPEAKER_00]: Seven out of 10 families are living paycheck to paycheck.
0:40
[SPEAKER_00]: And when I say thumbs, I wanna put this into perspective and make sure that you understand what I'm saying.
0:44
[SPEAKER_00]: I'm not talking about one person.
0:45
[SPEAKER_00]: When we say thumbs, we're talking about two adults and one and a half children, meaning one child that's up age and a newborn.
0:54
[SPEAKER_00]: More than half of Americans,
0:56
[SPEAKER_00]: These are single now individuals can't even cover a thousand dollar emergency fund.
1:03
[SPEAKER_00]: And if we really go deeper to the individuals who look like me, the average black household has just 10% of the net worth of the average white household.
1:15
[SPEAKER_00]: This that specifically comes from the federal reserve, right?
1:19
[SPEAKER_00]: So I'm not just guessing this out of my head.
1:20
[SPEAKER_00]: I'm giving you factual numbers.
1:24
[SPEAKER_00]: But here's why I get so excited to do what I do.
1:26
[SPEAKER_00]: This is why I love releasing a show every Monday and Wednesday.
1:30
[SPEAKER_00]: This is why I love teaching at Virginia Union University.
1:34
[SPEAKER_00]: This is why I'm so excited that I'm at Regent University, get in my doctorate degree.
1:40
[SPEAKER_00]: Because we got some good news.
1:43
[SPEAKER_00]: There is a system that works, not just for Wall Street,
1:48
[SPEAKER_00]: not just for, you know, the rich individuals, not just for the celebrities, not just for the hip hop artists and the athletes.
1:55
[SPEAKER_00]: No, there's a system that works for average people who can do extra ordinary things.
2:04
[SPEAKER_00]: There's a system that works for everyday families who want to break the cycle and build real well.
2:10
[SPEAKER_00]: And today I'm gonna be giving you three buckets, every family needs.
2:16
[SPEAKER_00]: the future bucket, the safety bucket, and the last one is the dreams bucket.
2:20
[SPEAKER_00]: I'll break down what goes into each and how to set them up and why this system is the foundation for generational wealth.
2:28
[SPEAKER_00]: Why this is the system and the foundation that is gonna work not just for you, but you can take this information and pass this down to your children.
2:39
[SPEAKER_00]: So I want you to dial in today.
2:40
[SPEAKER_00]: If you're driving, turn me up, put your phone on, do not disturb.
2:43
[SPEAKER_00]: If you're walking around the house, hey, man, turn me up even more.
2:46
[SPEAKER_00]: So when you walk into the other room, why you're cooking, you can hear me, and also do me a favor.
2:51
[SPEAKER_00]: Share this with the friend.
2:53
[SPEAKER_00]: Share this with someone.
2:54
[SPEAKER_00]: If you love your friends, you'll share this with them.
2:57
[SPEAKER_00]: Period.
2:58
[SPEAKER_00]: I wanna talk about why most people never build wealth.
3:03
[SPEAKER_00]: Why people always stay in the middle,
3:06
[SPEAKER_00]: class, income bracket, and never get to the wealthy class, right?
3:16
[SPEAKER_00]: I believe, I believe, I teach that money flows two ways.
3:23
[SPEAKER_00]: Money flows in and money flows out.
3:27
[SPEAKER_00]: It's a set of different ways so you can get it.
3:29
[SPEAKER_00]: Money comes in and money leaves.
3:34
[SPEAKER_00]: It goes out.
3:35
[SPEAKER_00]: bills, rent, groceries, parties, me and my team, we were, I took them out to lunch the other day and the bartender she was telling me that how the average bottle at a lounge today is $650.
4:02
[SPEAKER_00]: And I was just flabbergasted.
4:03
[SPEAKER_00]: I was like, I'm not paying $650 for a gag on bottle that only cost me $50 inside the store.
4:10
[SPEAKER_00]: And she's like, well, we sell it so much because, you know, you come and get the girls coming out.
4:14
[SPEAKER_00]: Yeah, yeah.
4:18
[SPEAKER_00]: And I'm like, so how many do you all sell a night?
4:21
[SPEAKER_00]: Oh, everybody wants to do it about everybody wants to have that experience.
4:25
[SPEAKER_00]: It's really not about the drink.
4:26
[SPEAKER_00]: They just went their name on a big old thing and how the girls come and out pretty much half naked.
4:31
[SPEAKER_00]: Let's be honest and doing this.
4:35
[SPEAKER_00]: You see, but at the end of the month, watch this, the same people who bought the bottles, the same people who did all this, they have nothing.
4:44
[SPEAKER_00]: And they even have nothing left for the future.
4:46
[SPEAKER_00]: There's no margin, there's no peace, there's no plan, but there was fine.
4:52
[SPEAKER_00]: I'm gonna ask you this question.
4:54
[SPEAKER_00]: Maybe you're not the person who's having a lot of fun.
4:56
[SPEAKER_00]: Maybe you are the individual that is working every single day and a lot of your money is going to your necessities.
5:01
[SPEAKER_00]: This is sound familiar to you.
5:03
[SPEAKER_00]: Drop a yes in the comment section.
5:05
[SPEAKER_00]: If you're watching or replay this or drop a yes in the comment section or in the chat section, if you're watching this live while they're premieres.
5:12
[SPEAKER_00]: Drop a yes if you ever felt like your money just disappears.
5:18
[SPEAKER_00]: I want to be honest with you, it's not just yourself.
5:21
[SPEAKER_00]: You see, according to the Federal Reserve, 6% of Americans do not have $1,000 to say for emergencies.
5:29
[SPEAKER_00]: In our work community, specifically the Black African American community, the number is even higher.
5:37
[SPEAKER_00]: But that's not just about emergencies.
5:40
[SPEAKER_00]: It's about opportunity.
5:43
[SPEAKER_00]: When the biggest wealth transfer in history is happening,
5:47
[SPEAKER_00]: $84 trillion over the next 20 years is going to be shifting to us.
5:54
[SPEAKER_00]: And if we are not positioned, we will get left behind.
6:03
[SPEAKER_00]: So how?
6:04
[SPEAKER_00]: How do we get positioned?
6:07
[SPEAKER_00]: Well, for me, I really believe that there has to be a system and a strategy that we follow,
6:17
[SPEAKER_00]: a system and a strategy that actually works automatically every single month down to every single day.
6:28
[SPEAKER_00]: And so I have three buckets that is on my wall in my office.
6:33
[SPEAKER_00]: And I want to share with you the three buckets that I honestly make sure that every single month, I am depositing into these buckets.
6:43
[SPEAKER_00]: And I want you to write down these buckets and when you're doing your budget throughout the month, I wanna make sure that you are depositing money and that you are actively looking out, okay, do we have it in this bucket?
6:56
[SPEAKER_00]: Do we have it in this bucket?
6:57
[SPEAKER_00]: And what are we putting in this bucket?
6:59
[SPEAKER_00]: If you follow this system in this strategy on top of everything else that you've learned from me and that you will learn from me throughout the rest of this year, I promise you this system is gonna pay off.
7:10
[SPEAKER_00]: Here's bucket number one, bucket number one.
7:15
[SPEAKER_00]: This is your wealth bucket.
7:17
[SPEAKER_00]: This is the bucket that's going to make sure that you are positioned to retire whenever you're ready to retire.
7:23
[SPEAKER_00]: This is the bucket that you have investing inside of and that this is the bucket that your generation of wealth transfer will come from this bucket.
7:34
[SPEAKER_00]: because this is the bucket that your 401k, your IRAs, your Roth IRAs, your index funds, your ETFs, your real estate, your land, your assets, not liabilities, your assets that grow over time sitting.
7:50
[SPEAKER_00]: This is how you pay your future self first.
7:57
[SPEAKER_00]: Every single time before I get paid from my own company, you all know me,
8:03
[SPEAKER_00]: I give God His 10%, after I give God His 10%, I pay myself.
8:10
[SPEAKER_00]: I invest into my future, and I invest into my nephews and nieces feature.
8:16
[SPEAKER_00]: I did this before I paid the bills, before I go buy corn and cold bottles and I've never bought a bottle in my entire life.
8:22
[SPEAKER_00]: Not one time.
8:24
[SPEAKER_00]: I've never seen the value of spending $600 on something that calls $40.50.
8:29
[SPEAKER_00]: And I just don't know, no disrespect because I get it.
8:33
[SPEAKER_00]: The bartender, she said that, that's how they made the money.
8:35
[SPEAKER_00]: So I'm not gonna knock that, but I just think that's just poor management of money.
8:40
[SPEAKER_00]: I do, I do, that's just for me, right?
8:42
[SPEAKER_00]: That's just for me, right?
8:44
[SPEAKER_00]: Some of those may have the capital and they don't care about it.
8:47
[SPEAKER_00]: Cool, right, no problem.
8:50
[SPEAKER_00]: No problem.
8:52
[SPEAKER_00]: But did you know?
8:52
[SPEAKER_00]: This interesting stat that just came out.
9:00
[SPEAKER_00]: I think it's homeowners, homeowners in America.
9:04
[SPEAKER_00]: our worth 40% or not 40% 40 times more than renters, meaning if this individual is a homeowner, they are 40 times wealthier than renters.
9:21
[SPEAKER_00]: On average, this is not for everything, right?
9:27
[SPEAKER_00]: It's not for everyone, because renting is not a negative.
9:33
[SPEAKER_00]: But ownership is how we start building wealth.
9:36
[SPEAKER_00]: You see, the average black family who are homeowners, homeowners has a net worth of $113,000.
9:43
[SPEAKER_00]: The average black renter has a net worth of $5,000.
9:49
[SPEAKER_00]: These are not Anthony O'Neill stats.
9:52
[SPEAKER_00]: This stat came from the Urban Institute in 2024.
9:56
[SPEAKER_00]: I'm waiting for their study to actually open up, because I want to see how those numbers change.
10:02
[SPEAKER_00]: So now, look at what we're saying, look at what we're saying, black homeowners, their network, meaning assets, they got $113,000, the average.
10:18
[SPEAKER_00]: But when you're just renting and you have no other assets, you're only worth about $5,000.
10:25
[SPEAKER_00]: Why is this so important to me?
10:35
[SPEAKER_00]: But by 254, we're still going to be looking good in whatever we wear.
10:39
[SPEAKER_00]: We're still going to be at the club, dropping money on bottles.
10:42
[SPEAKER_00]: We're still going to be, well, I ain't going to say that.
10:48
[SPEAKER_00]: Here's the action steps of what I really want you to do within this particular bucket.
10:54
[SPEAKER_00]: I want you to automate 22 to 25% of your income.
11:04
[SPEAKER_00]: the next 12 to 15% of your income needs to go into retirement accounts and investment accounts.
11:11
[SPEAKER_00]: If you're not there yet, to where you can't give 12 to 15%.
11:15
[SPEAKER_00]: Then I want you to start with 1% and increase that every single month.
11:22
[SPEAKER_00]: I want you to open up a brokerage account like that so far or public or fidelity or robin
11:34
[SPEAKER_00]: But I want you to start today.
11:37
[SPEAKER_00]: I need you to start today.
11:40
[SPEAKER_00]: As a matter of fact, check out this quick clip about the importance and how to open the program as you can today.
11:48
[SPEAKER_00]: Check this out, family.
11:49
[SPEAKER_00]: Did you know that nearly four and 10 Americans still have zero money invested in the stock market?
11:56
[SPEAKER_00]: That's a gap where wealth is built or missed.
12:00
[SPEAKER_00]: If you're just saving, you're falling behind because the market's average close to about a 10% a year for a century.
12:07
[SPEAKER_00]: While your savings account is barely keeping up within place.
12:11
[SPEAKER_00]: I want to make this plan.
12:12
[SPEAKER_00]: If you wait just five years to start investing, you could lose out on hundreds of thousands of dollars in future wealth.
12:19
[SPEAKER_00]: That's not hype.
12:20
[SPEAKER_00]: That's real math.
12:20
[SPEAKER_00]: The wealthiest 10% of Americans now own over 90% of all sucks because they started and they stayed consistent.
12:28
[SPEAKER_00]: But here's the thing, you don't need to be rich to honestly get inside of the investing game.
12:33
[SPEAKER_00]: With platforms like SoFi Invest, Public and Moo Moo, you can open the account today, start with as little as a dollar, literally, and buy fractional shares of the same assets that have built generational wealth for millions.
12:46
[SPEAKER_00]: No commissions, 100% no excuses on your area.
12:49
[SPEAKER_00]: Listen, I need you to hear me clearly.
12:52
[SPEAKER_00]: Stop sitting on sidelines.
12:53
[SPEAKER_00]: Go to anthonyoneo.com for session desk right now to compare the top investing platforms and open your first investing account today.
13:01
[SPEAKER_00]: Your future self and your children's children will thank you for taking action right now.
13:07
[SPEAKER_00]: We have to start building well, not just watching others get rich.
13:12
[SPEAKER_00]: Do not let another year go by, as my fact don't let another day go by.
13:17
[SPEAKER_00]: Take the first step, family.
13:19
[SPEAKER_00]: Visit www.anthonyonew.com for Sasha Invest.
13:22
[SPEAKER_00]: Let's get to work.
13:23
[SPEAKER_00]: Let's start investing ASAP.
13:25
[SPEAKER_00]: Let's get back to the show.
13:26
[SPEAKER_00]: If you don't own a home, I want you to make it a goal.
13:30
[SPEAKER_00]: I don't want you to rush into it.
13:32
[SPEAKER_00]: Because here's the truth.
13:33
[SPEAKER_00]: We're talking about our future self, right?
13:36
[SPEAKER_00]: A dream at the wrong time becomes a nightmare.
13:40
[SPEAKER_00]: So if you go from renting to home ownership early, that could become a liability and a nightmare.
13:52
[SPEAKER_00]: I wish somebody would have told me that.
13:54
[SPEAKER_00]: I really do.
13:57
[SPEAKER_00]: I think I'm gonna do a whole...
13:59
[SPEAKER_00]: Oh, show, I'm gonna bring in my, my realtors, Keith and I want to talk about like, what should, how should we start home on me?
14:06
[SPEAKER_00]: Because I remember when I first bought my home and my, my young 20s in Tennessee, I bought a big home.
14:13
[SPEAKER_00]: I built a custom home and I wish someone were just told me to start small and buy a duplex, live on the right hand side and rent out the left hand side and let the left hand side pay for the entire mortgage.
14:27
[SPEAKER_00]: But no, even being the money guy, even teaching money, I'm just like, you're not even getting to a nice home.
14:33
[SPEAKER_00]: I need to become a homeowner.
14:35
[SPEAKER_00]: While 50% of that was right, but how I was thinking at that time, I just really wish some I would have taught me how to start small and build my way up.
14:47
[SPEAKER_00]: Bucket number two, okay?
14:49
[SPEAKER_00]: Bucket number two.
14:51
[SPEAKER_00]: Safety.
14:53
[SPEAKER_00]: This is, I call this your piece of mind bucket.
14:59
[SPEAKER_00]: This is where your emergency funds are, your insurance is, this is what I call, I can sleep at night and be peaceful, money.
15:12
[SPEAKER_00]: I'm gonna say something that I think the mature mind will understand what I am saying.
15:18
[SPEAKER_00]: And I think the immature mind will probably be the ones to have a comment about this.
15:28
[SPEAKER_00]: This is the bucket to where you and your spouse can have amazing intimacy because you're not worried about how you're going to pay bills.
15:40
[SPEAKER_00]: This is the bucket that saves marriages.
15:49
[SPEAKER_00]: This is the bucket that prevents arguments inside of marriages.
15:56
[SPEAKER_00]: I think I'm a bring on a marriage couple.
16:00
[SPEAKER_00]: Council on how to show about money and marriage because I am nowhere near the place where I can give relationship advice, not qualified to give relationship advice.
16:19
[SPEAKER_00]: I am qualified to give money advice.
16:22
[SPEAKER_00]: And when I sit down and have a conversation with couples from our community, and I have one, I've had several, not just one, I've had several couples, and specifically wives.
16:34
[SPEAKER_00]: I'm going to be honest with you.
16:37
[SPEAKER_00]: Sit at men.
16:37
[SPEAKER_00]: I cannot enjoy intimacy or sex with my husband because I am concerned and I'm thinking about how are we going to pay these bills?
16:50
[SPEAKER_00]: I'm thinking about how are we going to pay for my son's field trip?
16:54
[SPEAKER_00]: How are we going to pay for my daughter's prom?
16:58
[SPEAKER_00]: Like, I have all this distraction on me and Anthony.
17:03
[SPEAKER_00]: I'm not trying to gross you out of giving too much information, but money is so heavy on us that we don't even really enjoy or think about intimacy in our marriage.
17:15
[SPEAKER_00]: So this bucket is the piece bucket, it doesn't solve all the problems, but at least at least it is a bucket where you can sleep at night, you don't have to worry about when life happens, it will not destroy your family, it may make your family pause, it may make you step back and look at some things, but this bucket is going to allow you to still progress forward.
17:43
[SPEAKER_00]: This is the bucket where you have a high yield saves account, not your checking account, not a regular check.
17:48
[SPEAKER_00]: Not a regular savings account.
17:50
[SPEAKER_00]: This is the bucket where we put three to six months of net pay, not your expenses.
17:54
[SPEAKER_00]: I know for years, I talked about save three to six months of expenses and and and I still respect that philosophy, but for me, here's what I've learned.
18:05
[SPEAKER_00]: I don't want my life to change at all.
18:10
[SPEAKER_00]: because I've learned when I can keep doing the things that I've always been doing, I tend to make better decisions.
18:17
[SPEAKER_00]: When my back is up against the wall and I feel the stress, I react fast to remember.
18:23
[SPEAKER_00]: I did a show from the book and it talks about our fast side of our mind and the slow side of our mind.
18:30
[SPEAKER_00]: And we make bad decisions when we operate out of the fast side of our mental.
18:39
[SPEAKER_00]: decisions from our slow.
18:42
[SPEAKER_00]: So this bucket allows us to activate our slow mind and not necessarily move slower, but we don't feel the stress to make a quick decision and then we make that quick decision with like, Doug on it, I should have did this or Doug on it, I should have said that.
19:00
[SPEAKER_00]: So this bucket gives you the room to sit back for 30 days, 60 days, not okay, wait.
19:06
[SPEAKER_00]: All right, do I wanna go and apply for here or wait?
19:08
[SPEAKER_00]: Do I wanna go start a business or wait?
19:09
[SPEAKER_00]: Do I wanna go do this?
19:10
[SPEAKER_00]: Okay, wait.
19:11
[SPEAKER_00]: Okay, all right, babe, what do you think we should do?
19:13
[SPEAKER_00]: Okay, you know, let's go talk to a financial advisor.
19:15
[SPEAKER_00]: Let's go talk to a coach.
19:16
[SPEAKER_00]: Let's go talk to our pastor.
19:17
[SPEAKER_00]: Let's go talk to someone else and get some other wisdom.
19:20
[SPEAKER_00]: Not move quickly.
19:23
[SPEAKER_00]: Not move quickly.
19:27
[SPEAKER_00]: This is the bucket.
19:30
[SPEAKER_00]: that you have, you're insurance policies.
19:34
[SPEAKER_00]: This is the bucket that man, what I have right now, I'm the healthiest I've ever been in my life, and it's so funny how, at 40, how I even look at life, what I even tolerate in my life, and some of the goals in my life has changed.
19:58
[SPEAKER_00]: I was recently told I'm a little boring, boring.
20:03
[SPEAKER_00]: I'm 42.
20:06
[SPEAKER_00]: I'm too old to be still having fun like I was in my 20s and young 30s.
20:13
[SPEAKER_00]: It's fun seeing my investment portfolio go up.
20:17
[SPEAKER_00]: It's fun seeing my high heels save as it can't go up.
20:20
[SPEAKER_00]: It's fun writing books that's going to impact the culture and that's going to produce generational wealth from my children's children.
20:28
[SPEAKER_00]: It's fun goughing.
20:31
[SPEAKER_00]: And I don't have the word by paying bills.
20:36
[SPEAKER_00]: It's fun being able to go to the hospital and do my annual check-up because I have the proper amount of health insurance.
20:42
[SPEAKER_00]: And I worry about my health, it's it's fun when my doctor tells me a man, you don't have diabetes.
20:52
[SPEAKER_00]: It's fun when I have a low month.
21:02
[SPEAKER_00]: And I don't get stress.
21:10
[SPEAKER_00]: Maybe you didn't that fun.
21:12
[SPEAKER_00]: but it for sure is peaceful.
21:17
[SPEAKER_00]: It is peaceful going to my mailbox and it's not one aim of open air that I do not want to open.
21:30
[SPEAKER_00]: I don't have credit card bills and collection bills and debt collectors reaching out to me.
21:39
[SPEAKER_00]: But 54% of Americans,
21:43
[SPEAKER_00]: Say, debt and emergencies are their number one concern.
21:49
[SPEAKER_00]: It is their number one reason they cannot build wealth and have a piece of mind.
21:57
[SPEAKER_00]: Fifty-four percent.
22:01
[SPEAKER_00]: This bucket.
22:04
[SPEAKER_00]: If done right,
22:12
[SPEAKER_00]: This bucket, it's just as important as a future bucket because if you don't have the piece bucket, you'll never get to a brighter future.
22:28
[SPEAKER_00]: So here's the action steps for this particular bucket.
22:31
[SPEAKER_00]: Number one, I need you to open up a high U of savings account to date.
22:35
[SPEAKER_00]: I need you to go from saving money in your checking account or saving money in your traditional, you know, save the account.
22:41
[SPEAKER_00]: Why are you giving these big banks?
22:44
[SPEAKER_00]: Your money to sit there, allow them to use your money to loan your money out to other people and they only pay you 0.01%, no, no, no, no, no.
22:51
[SPEAKER_00]: Move that money into another account.
22:54
[SPEAKER_00]: That's gonna pay you a higher yield.
22:57
[SPEAKER_00]: So that way your emergency fund is growing without you even putting any more money in it.
23:04
[SPEAKER_00]: And what you're gonna do is set up automatic transfers every single time you get paid to go inside of that bucket, even if it's just $10, you're gonna put money inside of it.
23:15
[SPEAKER_00]: As a matter of fact, check out this one, this quick commercial about the best savings accounts you can open today.
23:22
[SPEAKER_00]: This is a family.
23:23
[SPEAKER_00]: If your savings account is earning less than one percent, you're literally donating money back to the bank.
23:29
[SPEAKER_00]: You see, traditional savings accounts are paying payments.
23:32
[SPEAKER_00]: While high-year savings accounts are paying dollars, and the gap is costing you real wealth every single year.
23:41
[SPEAKER_00]: I want to get real with you here real quick.
23:43
[SPEAKER_00]: When $10,000, the regular bank might pay you $40 a year, but a top high-year savings account, that's $400 to $500 a year, just for moving your money.
23:53
[SPEAKER_00]: That's hundreds of extra dollars in your pocket.
23:57
[SPEAKER_00]: No extra work, no risk in your money stay safe and FDIC and Shua.
24:02
[SPEAKER_00]: Nearly one in four Americans have zero emergency savings and most who do are missing out on free money.
24:10
[SPEAKER_00]: By leaving their cash and lazy accounts, how your savings account is the fastest, simplest upgrades you can make to hit your emergency fund and short-term goals faster.
24:22
[SPEAKER_00]: So listen, stop letting your heart earn dollars say lazy, visit amphinyonil.com for SaaS savings, compare the best high you'll save as accounts and open yours in literally two minutes.
24:33
[SPEAKER_00]: Every extra dollar interest gives you closer to finance or freedom, so please do not wait.
24:39
[SPEAKER_00]: Don't let another year go by earning pennies.
24:43
[SPEAKER_00]: Go to amphinyonil.com for SaaS savings, let your money start working for you today.
24:50
[SPEAKER_00]: All right, let's keep back to the show.
24:51
[SPEAKER_00]: So now once you do that, the next thing in this bucket go is you've got to review your insurance policies.
24:57
[SPEAKER_00]: For me, term life insurance is a must.
25:00
[SPEAKER_00]: If you have a family or loved ones who you love, you've got to protect them.
25:05
[SPEAKER_00]: And you've got to protect your margin.
25:09
[SPEAKER_00]: because peace is the breeding ground, the foundation, to wealthability, which leaves me into the last bucket, which is bucket number three, your drain bucket.
25:22
[SPEAKER_00]: I call this for me, drain bucket for sure, but this is like my purpose bucket.
25:28
[SPEAKER_00]: You know, this is the bucket that I believe is all about
25:34
[SPEAKER_00]: me and what makes me feel happy and somewhat fulfilled.
25:41
[SPEAKER_00]: Because we've covered our future, right?
25:44
[SPEAKER_00]: We've covered our peace.
25:48
[SPEAKER_00]: Now let's have a little bit of fun.
25:51
[SPEAKER_00]: This is when you're saving for home ownership for your dream home.
25:55
[SPEAKER_00]: This is so you can have an amazing family vacation.
25:58
[SPEAKER_00]: You don't have to go on carnival and spend $200 to be around a bunch of people.
26:04
[SPEAKER_00]: Well, let me be quiet.
26:04
[SPEAKER_00]: Because somebody else still do carnival and I don't want to not get right carnival.
26:08
[SPEAKER_00]: I enjoy it.
26:09
[SPEAKER_00]: I went on it not last year.
26:11
[SPEAKER_00]: The daughters went to go to we did royal for her graduation.
26:16
[SPEAKER_00]: But we've done carnival together as families before.
26:21
[SPEAKER_00]: This bucket allows you to travel wherever you want to travel.
26:24
[SPEAKER_00]: This bucket is, if you want to go back to school and get education, get a certificate, continue growing.
26:31
[SPEAKER_00]: This bucket is your giving and your legacies inside of it.
26:37
[SPEAKER_00]: This is the down payment fund.
26:40
[SPEAKER_00]: This is the college fund.
26:41
[SPEAKER_00]: This is the, you know, oh my gosh, like I, whoop.
26:47
[SPEAKER_00]: This is where you fund your vision.
26:50
[SPEAKER_00]: not just your survival.
26:57
[SPEAKER_00]: This is when you, this is the bucket that you say for your dream car.
27:06
[SPEAKER_00]: This is your bucket.
27:08
[SPEAKER_00]: This is you and your spouse's bucket.
27:11
[SPEAKER_00]: This is the bucket that gets you excited.
27:18
[SPEAKER_00]: Did you know, I was reading as article to other day because I'm doing a paper for my school.
27:24
[SPEAKER_00]: And I came across this study on Pew Research from 2024 and it says, one in three black families, say they've never taken a family vacation due to money.
27:38
[SPEAKER_00]: But families who say for dreams specifically are two times more likely to achieve them and to take that vacation.
27:48
[SPEAKER_00]: When I read this article, I stopped and I paused because it's true.
27:55
[SPEAKER_00]: My mom and stepfather got married at the south of the border, so they didn't even have a wedding.
28:05
[SPEAKER_00]: Never went on a honeymoon.
28:08
[SPEAKER_00]: And watched this.
28:15
[SPEAKER_00]: for 20, seven years, they never went on a vacation.
28:23
[SPEAKER_00]: And when I say vacation, I'm talking about get on a flight just them to and go somewhere and enjoy.
28:35
[SPEAKER_00]: When me, my sister and my brother found that out that they never even had a honeymoon, that they never did anything.
28:47
[SPEAKER_00]: That bothers me.
28:48
[SPEAKER_00]: Hi, I'm 27 at the time.
28:53
[SPEAKER_00]: Smumma, I'm gonna have to be what?
28:55
[SPEAKER_00]: Late 30s, early 40s?
28:59
[SPEAKER_00]: Oh, no, it should be a 40s.
29:01
[SPEAKER_00]: My mom was 20 when she had me.
29:03
[SPEAKER_00]: So 27, 30s had fourth.
29:04
[SPEAKER_00]: So my mom was almost 47, 48 years old, never been on vacation.
29:12
[SPEAKER_00]: So we sent our parents on vacation.
29:18
[SPEAKER_00]: For their anniversary, that year, we sent them on a cruise.
29:24
[SPEAKER_00]: We gave them money to spend on a cruise.
29:26
[SPEAKER_00]: Don't worry about nothing, Mom and Dad, thank you for being amazing parents.
29:32
[SPEAKER_00]: And we sent them on a vacation.
29:37
[SPEAKER_00]: And side of this dream bucket, it is not just my dream, but it's, how can I help the dreams of my parents happen?
29:47
[SPEAKER_00]: Every year, me and my father, biological father, we get away and we go golfing last year.
29:51
[SPEAKER_00]: I took him to Las Vegas for a whole week and we golfed.
29:58
[SPEAKER_00]: We didn't worry about nothing.
30:00
[SPEAKER_00]: My dad didn't worry about it.
30:01
[SPEAKER_00]: And then I bought his flight.
30:03
[SPEAKER_00]: I bought him his own hotel room and I got him a suite at one in the top floors.
30:07
[SPEAKER_00]: I remember he was so high.
30:08
[SPEAKER_00]: He called my mom his wife.
30:11
[SPEAKER_00]: And said, hey, look what Anthony got me.
30:14
[SPEAKER_00]: Look at this room.
30:15
[SPEAKER_00]: And my mom called and said a little, I need to fly out there, babe, I need to come.
30:21
[SPEAKER_00]: We're golfing on some of the top, most luxury golf courses.
30:25
[SPEAKER_00]: That's a dream.
30:28
[SPEAKER_00]: That's a dream that I'm able to spend time with my father, who sacrificed for me, who's who's who's blood is running through my veins.
30:42
[SPEAKER_00]: Eat at high in restaurants.
30:49
[SPEAKER_00]: pass a dream.
30:52
[SPEAKER_00]: And I pray my son can do that for me one day.
30:56
[SPEAKER_00]: For this particular bucket, I need you to open up a totally different high yield save as account for your dream.
31:04
[SPEAKER_00]: And I want you to label that on your budget, dream account.
31:08
[SPEAKER_00]: And even if you don't have major dreams right now, I want you to be intentional about putting money
31:15
[SPEAKER_00]: So whenever a new dream comes, she might not have already been saving for you.
31:23
[SPEAKER_00]: Maybe your dreams to take your children to Israel, maybe your dreams to take your kids to Ghana, Africa, to be with us.
31:32
[SPEAKER_00]: Maybe your dream is to own a home in another country.
31:41
[SPEAKER_00]: I don't know.
31:43
[SPEAKER_00]: A label that account dream.
31:46
[SPEAKER_00]: and don't forget to automate a small amount every single time you get paid to your dream account.
31:54
[SPEAKER_00]: And have a conversation with your spouse.
31:57
[SPEAKER_00]: Talk about your dreams.
32:00
[SPEAKER_00]: Talk about, and when I say dreams, I really much like it to hear me.
32:04
[SPEAKER_00]: Don't say my dream is to get that free.
32:05
[SPEAKER_00]: That's another two buckets.
32:06
[SPEAKER_00]: No, what is your dream?
32:10
[SPEAKER_00]: Start saving for it.
32:13
[SPEAKER_00]: Give.
32:15
[SPEAKER_00]: Generosity is one of the key ingredients of booting wealth.
32:23
[SPEAKER_00]: My dream is to be, and it's a stay-in-to-but stay-in-the-top, 1% of tithers and givers at my local church.
32:39
[SPEAKER_00]: Not because it's a competition.
32:42
[SPEAKER_00]: Because I know the more that I give back to God than the more he can trust me with.
32:47
[SPEAKER_00]: And if God can trust me with more than a more I can leave, my children, the more I can hire more black people in.
32:57
[SPEAKER_00]: Touch more lives, the more I can fulfill some of my dreams and desires and my wife's dreams and desires.
33:03
[SPEAKER_00]: And hey, let's be real.
33:06
[SPEAKER_00]: I want to be able to give my kids some of their dreams and desires before they even leave.
33:10
[SPEAKER_00]: I want to be such an impression on my daughter's life that when a man, hopefully a black man, finds her that she's not impressed easily because her father has set the bar automatically.
33:27
[SPEAKER_00]: I want to be so strong.
33:34
[SPEAKER_00]: My dream is that if I'm blessed to have a daughter that when her husband finds her, that once she's not easy and pressed, but then too, she's going into the marriage as an asset.
33:46
[SPEAKER_00]: She ain't got debt.
33:47
[SPEAKER_00]: She got a check and a good career and a great mind.
33:55
[SPEAKER_00]: Some of I saw the internet go off from my boy, uh, Laterius Whitfield, because his wife
34:09
[SPEAKER_00]: My dream is that my daughter and my son are so financially set insecure, but they can chip in for their own way.
34:24
[SPEAKER_00]: I don't know if I would want to pay for a wedding.
34:28
[SPEAKER_00]: I'll let them pay for the wedding.
34:29
[SPEAKER_00]: You got the money.
34:32
[SPEAKER_00]: I invested money into you.
34:34
[SPEAKER_00]: You can go buy a house.
34:35
[SPEAKER_00]: I want I want to give.
34:37
[SPEAKER_00]: I want to I want to make sure that my resources and at my tools is helping you with life, not just with one day.
34:49
[SPEAKER_00]: So my, my daughter can go to her fiance and say, hey, you know what, I want to get married here and, you know, my parents invest so much into me and I've been investing that, um, and I can chip in half a bit too, because this is what I designed.
35:03
[SPEAKER_00]: This is what I want.
35:05
[SPEAKER_00]: We're not going to borrow no money.
35:07
[SPEAKER_00]: My parents taught me better than that.
35:08
[SPEAKER_00]: They positioned me better than that.
35:10
[SPEAKER_00]: Do you know how many brothers will be happy about that?
35:17
[SPEAKER_00]: Well, that's my dream.
35:18
[SPEAKER_00]: I'm dreaming too much, huh?
35:19
[SPEAKER_00]: No, I, listen, let's, let's get practical real quick before we end today show.
35:24
[SPEAKER_00]: How do you set up your three buckets this week?
35:28
[SPEAKER_00]: Very first thing that I want you to spend the rest of this week.
35:33
[SPEAKER_00]: I'm going into next week.
35:35
[SPEAKER_00]: being intentional about setting that set in them up.
35:38
[SPEAKER_00]: And I'm going to give it a step here.
35:39
[SPEAKER_00]: Step number one is I want you to open up three separate accounts.
35:43
[SPEAKER_00]: One for each bucket.
35:45
[SPEAKER_00]: Your future account, your dream, account, and your safety account.
35:50
[SPEAKER_00]: All right, set number two.
35:52
[SPEAKER_00]: I want you to automate some of the transfers.
35:54
[SPEAKER_00]: Even if it's just $5, $10, $50 into it, I want you to set it and forget it, right?
36:00
[SPEAKER_00]: And as your incoming creases,
36:05
[SPEAKER_00]: Once you get out of debt, then you should really be maxing out these accounts, specifically your future account, right?
36:12
[SPEAKER_00]: Step 3, I want you to review the last 90 days of your budget, and I want you to adjust moving forward for the next 90 days.
36:22
[SPEAKER_00]: So it just means that you're pulling up your bank statement, you're pulling up your credit card statements, and you're gonna really get detailed and see, okay, what have we spent our money on the last 90 days?
36:31
[SPEAKER_00]: And what are we gonna change the next 90 days?
36:34
[SPEAKER_00]: So we can really start building out these buckets.
36:42
[SPEAKER_00]: And for the next 90 days, I want you to ask yourself two questions.
36:48
[SPEAKER_00]: Are you on track?
36:53
[SPEAKER_00]: Can you increase your contributions?
36:59
[SPEAKER_00]: If I have any extra money coming in, where can we bump up in one of our buckets?
37:08
[SPEAKER_00]: And then step number four, step number four, this is a, this is a very important one.
37:14
[SPEAKER_00]: Involve your family and when I say your family, I'm talking about your spouse and your children,
37:21
[SPEAKER_00]: and possibly your parents.
37:23
[SPEAKER_00]: Why is this important?
37:24
[SPEAKER_00]: Because your spouse and your children, the well off the top, you and your spouse need to be on the same page.
37:31
[SPEAKER_00]: If you're single like myself, make sure that your family knows like, hey, I'm being super intentional for the rest of 2026 to really build out these three buckets that I learned from AO.
37:41
[SPEAKER_00]: And so no mom, I won't be able to give you money, no friend, I won't be able to do this.
37:46
[SPEAKER_00]: I had my mom asked me for something just recently.
37:50
[SPEAKER_00]: And I told her mom, I said, yo, I can't do that this month because it's not in a budget for this month, but I can definitely look into it next month.
37:58
[SPEAKER_00]: I got you, right, I'll add it to the budget because I couldn't take it away from any of the buckets, right?
38:05
[SPEAKER_00]: And y'all, I have the funds, but I didn't allocate it.
38:09
[SPEAKER_00]: And it wasn't a need.
38:12
[SPEAKER_00]: I'm off, oh my gosh, I'm not going to fulfill somebody else's wants by taking away from my needs.
38:30
[SPEAKER_00]: No mama, no daddy, no sibling, no friend, no girlfriend, and I'm guilty of that.
38:37
[SPEAKER_00]: I am guilty.
38:41
[SPEAKER_00]: of pulling from my buck is to fulfill a young lady who I'm dating once trying to impress her I'm I'm guilty of that.
38:52
[SPEAKER_00]: I'm guilty of pulling from my knee and giving money to some of my family members once.
39:05
[SPEAKER_00]: I've just had a family member too.
39:07
[SPEAKER_00]: There's a couple of weeks ago, call me and ask me for thousands of dollars.
39:12
[SPEAKER_00]: And while I love all of my family, I love all of my family.
39:19
[SPEAKER_00]: I sent no.
39:22
[SPEAKER_00]: Because I can't afford to rob from my future.
39:24
[SPEAKER_00]: I can't afford to rob from my knees.
39:27
[SPEAKER_00]: I can't afford to not position myself to be the best.
39:32
[SPEAKER_00]: Husband and a possible cam whenever I get married.
39:34
[SPEAKER_00]: I can't afford to rob opportunities from my staff and from my team members to make more money to fulfill their dreams and needs.
39:41
[SPEAKER_00]: No.
39:43
[SPEAKER_00]: So you gotta talk with your family about the buckets at the dinner table, talk to your kids about each one of these buckets and then teach them how to get their own buckets as well.
39:55
[SPEAKER_00]: And then step number five, which is the last step, you gotta protect the system.
39:59
[SPEAKER_00]: Do not dip into your future or safety buckets for your own ones, and especially for their ones.
40:05
[SPEAKER_00]: Use your dream buckets for what matters most to you, what fulfills you and your family.
40:12
[SPEAKER_00]: Not somebody else's family, because remember, I've said this several times.
40:18
[SPEAKER_00]: The moment you say yes to something, you're saying no to something else.
40:27
[SPEAKER_00]: Scripture reminds us that a good man leaves an inheritance for his children's children.
40:34
[SPEAKER_00]: Some Proverbs 13 verse 22 I think.
40:39
[SPEAKER_00]: Fam, wealth isn't just about money, it's about freedom, it's about peace, it's about legacy.
40:46
[SPEAKER_00]: And when you set up these three buckets, you're not just building for yourself, you're building for your children's children, this system honors God.
40:57
[SPEAKER_00]: It protects your family and it gives you the margin to stay yes to opportunities and no to stress.
41:05
[SPEAKER_00]: And let's be real.
41:07
[SPEAKER_00]: The system is raped to keep us spending money, not saving money.
41:12
[SPEAKER_00]: To keep us paying interest, not receiving interest.
41:16
[SPEAKER_00]: But when you automate these buckets, you flip the script.
41:20
[SPEAKER_00]: You put your money to work for you, not the other way around.
41:27
[SPEAKER_00]: Listen, go set up these three accounts, go set up these three buckets.
41:35
[SPEAKER_00]: Think about it, process it, share this video with a friend or a family member who needs to build their bucket, share this with your young kids, share this with your young adults who are your kids, share this on the internet.
41:48
[SPEAKER_00]: Let's hold each other accountable, especially with an our community in the black.
41:54
[SPEAKER_00]: Because we're getting out of the red, and we're getting in the black.
41:58
[SPEAKER_00]: One bucket at a time.
42:02
[SPEAKER_00]: I was your bull amp and you'll know, I'm gonna drop some of the links in the show description to help you with the full fill in these buckets.
42:09
[SPEAKER_00]: And I'll see you in the next show.
42:12
[SPEAKER_00]: Peace out.