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ITV # 207: These Write-Offs Are Keeping You POOR — The Episode You’ll Replay Twice · Inside The Vault with Ash Cash

0:00
[SPEAKER_01]: You can go and listen to everyone on social media telling you right off all this stuff, but too many right hours will cause you to look broke.
0:10
[SPEAKER_02]: Texas saved my life.
0:11
[SPEAKER_02]: When we're looking at people's financials, most likely there's issues with them.
0:17
[SPEAKER_01]: Your financial task to tell the story.
0:18
[SPEAKER_01]: Let me go cash out of car.
0:20
[SPEAKER_01]: Let me go take some truth.
0:21
[SPEAKER_01]: I didn't know how to manage a money.
0:22
[SPEAKER_01]: Black, white.
0:23
[SPEAKER_01]: The current your money, the current your assets and have to invest to save on Texas.
0:30
[SPEAKER_01]: Hispanic Asian.
0:31
[SPEAKER_01]: I think a lot of people have ego issues and just need to drop those.
0:36
[SPEAKER_01]: A lot of people have that hustle and that strive, but if you don't have the systems and automation is in place, then it's hard to run a business.
0:44
[SPEAKER_01]: 90% of people don't know about money.
0:46
[SPEAKER_01]: They just think, you know, getting the LLC and LSE authority.
0:48
[SPEAKER_01]: No, I'm going to break down every single thing
0:54
[SPEAKER_02]: Hey, wait, wait, wait.
0:56
[SPEAKER_02]: I know you want to watch this next video, but listen, if you are an entrepreneur, business coach, business consultant, or a small business owner who has a story and wants to learn how to create multiple strings of income from your story, I need you to text me right now.
1:11
[SPEAKER_02]: to six, four, six, six, eight, seven, four, one, five, two.
1:15
[SPEAKER_02]: That is my personal number.
1:17
[SPEAKER_02]: I have been an author for over 12 years.
1:19
[SPEAKER_02]: I've written 10 books, four of them have been best sellers, and I've sold over 100,000 books.
1:24
[SPEAKER_02]: But I've also helped a lot of my clients take their expertise and put it into a story, then create multiple streams of income from that.
1:32
[SPEAKER_02]: So I wanna help you do the same thing.
1:34
[SPEAKER_02]: So text my book to six, four, six, six, eight, seven, four, one, five, two.
1:39
[SPEAKER_02]: I, let's go back to the video.
1:57
[SPEAKER_02]: All right, so welcome to another awesome episode of Inside The Vault with Ash Cash, the greatest money mindset show on the planet.
2:05
[SPEAKER_02]: Most entrepreneurs don't fail because they don't make money.
2:08
[SPEAKER_02]: They fail because they don't understand the tax game behind the money.
2:14
[SPEAKER_02]: Today's guest has spent over 20 years inside the system, not just preparing taxes, but
2:27
[SPEAKER_02]: from helping everyday business owners turn chaos into cash flow to earning the presidential lifetime achievement award, Dr. Rosie Thomas didn't just learn the rules, she mastered the loopholes, but here's the real question.
2:43
[SPEAKER_02]: Are you building a business, or are you building a tax liability
2:49
[SPEAKER_02]: waiting to explode.
2:51
[SPEAKER_02]: Inside this episode, she's breaking down the hidden deductions, the mindset shifts, and the systems that separate six figure earners from seven figure wealth builders, and what she reveals about how entrepreneurs leave money on the table every single year.
3:08
[SPEAKER_02]: You're going to want to hear the that part twice.
3:12
[SPEAKER_02]: Ladies and gentlemen, Rockville applause for
3:16
[SPEAKER_01]: I'm so glad to be here.
3:18
[SPEAKER_01]: Thank you for having me.
3:19
[SPEAKER_02]: No, I'm glad to hear because this is tax season.
3:23
[SPEAKER_02]: So we're in tax season.
3:25
[SPEAKER_02]: People are, I think this is the biggest, this separates the hash of the half knots and a lot of people don't even realize that they don't realize that what you understand about the tax game can be the differentiated between being wealthy or being one,
3:42
[SPEAKER_02]: paycheck away from poverty or one mistake away for your entrepreneur.
3:47
[SPEAKER_02]: And so the information that you've learned over a 20-year span, the millions and millions of those you help your clients, like this is going to be one of those interviews that people are going to want to watch over and over and over again.
4:02
[SPEAKER_02]: But before we go to it, before you give us other gain,
4:04
[SPEAKER_02]: for those who don't know who is Dr. Rosie.
4:08
[SPEAKER_01]: I'm Dr. Rosie Thomas.
4:10
[SPEAKER_01]: I'm born and raised in Dallas, Texas.
4:12
[SPEAKER_01]: Been around my life.
4:13
[SPEAKER_01]: I am an accountant.
4:15
[SPEAKER_01]: I'm a wife.
4:16
[SPEAKER_01]: I'm a mom and I'm a serial entrepreneur.
4:20
[SPEAKER_01]: I started in the industry.
4:21
[SPEAKER_01]: I've been in a 21 years now, a long time.
4:24
[SPEAKER_01]: Who am I?
4:27
[SPEAKER_01]: But yeah, so I started about 21 years ago, and every since then, like, taxes in the county changed my life.
4:34
[SPEAKER_01]: And I have, I mean, I've seen my lows and I've seen my highs, and now I fully understand the blueprint, and I just help my business on them, and my people don't make the mistakes that I made along the way.
4:47
[SPEAKER_02]: And so being in the tax game for over 20 years, when did you realize that it wasn't just about compliance,
4:56
[SPEAKER_02]: like tax is like power, like it's, you know, it's, it's, it's the power that builds well.
5:02
[SPEAKER_01]: So, honestly, it took about eight years in, because I used to just focus on personal taxes, more, more, uh, the earning income credit clients, because I feel like this, you know, this way everybody started making money.
5:14
[SPEAKER_01]: But when I got into funding, purchased in the home, that was another thing as a business owner.
5:21
[SPEAKER_01]: And things where my financials and my taxes matter, that's when I shift it and I start helping people because I know other people within the same situation I was.
5:32
[SPEAKER_01]: Because if your financials are not together and your taxes are not fair correctly, you can't buy that home.
5:39
[SPEAKER_02]: It's on a little bit about that because I think a lot of times people try
5:44
[SPEAKER_02]: to avoid taxes or they don't want to report taxes and things of that nature and like you said, people want to want to buy homes, they want to get loans like what is that balance between saving on taxes but then also doing what's necessary to make sure that you're able to, you know, you know, receive the fruits of your labor.
6:05
[SPEAKER_01]: There is a lot of strategies that will,
6:12
[SPEAKER_01]: show money on paper when you go into the bank.
6:15
[SPEAKER_01]: So it's plenty of things that you can use.
6:17
[SPEAKER_01]: That's why I have in an account in the strategies is important Especially if you make in great money your business because a lot of times people just write off everything and when they go to the bank They're looking broke
6:29
[SPEAKER_01]: But there is strategy, such as depreciation, you know, malice, things like that, that will give you a great deduction, but still make you look like money on paper.
6:40
[SPEAKER_02]: I love that.
6:41
[SPEAKER_02]: I love that.
6:42
[SPEAKER_02]: I know a lot of entrepreneurs kind of like they deal in ego if you will, right?
6:47
[SPEAKER_02]: And so what would you say the biggest financial mistakes you've seen successful business owners make because of their ego, because of how they want to present themselves?
6:56
[SPEAKER_01]: A lot of them don't file a taxes and let alone file it correctly.
7:00
[SPEAKER_01]: Some of the biggest influencers in the industries, different industries are making a lot of money, but they're not filing their taxes or they're not filing their taxes correctly.
7:09
[SPEAKER_01]: And not even that, they don't feel comfortable.
7:12
[SPEAKER_01]: giving place in their income in our financials and they business and other people hands.
7:18
[SPEAKER_01]: So that stops them from getting the help that they're needing.
7:22
[SPEAKER_01]: So they ego getting the way because they think someone is going to be worried about how much they're making or even how it's how they're not taking care of the business, the way they're supposed to, you know?
7:36
[SPEAKER_01]: So it could they either put them, they get to know it.
7:39
[SPEAKER_01]: But one thing about me as an accountant, there is no judge me is on.
7:44
[SPEAKER_01]: Like my clients, I wouldn't, you know, I don't share the information.
7:47
[SPEAKER_01]: Honestly, I don't really pay attention to what they make.
7:50
[SPEAKER_01]: I just do my job.
7:51
[SPEAKER_02]: Yeah, for sure, for sure.
7:53
[SPEAKER_02]: You know, when I think of bikes, like somebody, like a tax strategist or a accountant or whatever,
8:01
[SPEAKER_02]: I look at that, like a service provider, like I'm gonna pay you, you provide a service, you say that you're not a service provider, you're a wealth architect, when did that pivot, or when did that realization come for you that you're like, you know what, I'm not just providing services, I'm helping you to architect your wealth.
8:20
[SPEAKER_01]: So I would say about five years ago, I was nervous about my high income client, I got a client making about two million.
8:27
[SPEAKER_01]: And I was like, oh, I ain't ready for that, because I'm used to, you know,
8:30
[SPEAKER_01]: servicing people making a half a million.
8:32
[SPEAKER_01]: Like that was, but I outdid myself.
8:35
[SPEAKER_01]: Like I knew the strategies.
8:36
[SPEAKER_01]: I knew what I supposed to do.
8:38
[SPEAKER_01]: I just didn't was afraid to apply it and have those types of clients.
8:42
[SPEAKER_01]: But I was able to service that client.
8:44
[SPEAKER_01]: Say them on taxes.
8:46
[SPEAKER_01]: They pay way less than they had ever paid and also educate them.
8:51
[SPEAKER_01]: And so that client is now providing their bookkeeping, you know, on all of their accounting services.
8:56
[SPEAKER_01]: So that made me realize, like Rosie, like get out of your own head, like you is the stuff.
9:02
[SPEAKER_02]: You know, yeah, yeah, yeah, yeah.
9:04
[SPEAKER_02]: And I love that, and I love the distinction, no, too, because a lot of times, you know, you know, people think they could treat, like a service provider is like, hey, I'm gonna bounce around to whoever could provide the service, but as a wealth architect,
9:19
[SPEAKER_02]: you know, helping them build, build.
9:22
[SPEAKER_02]: Is there a advantage of finding the right tax professional and then making sure that you stick with them year after year?
9:31
[SPEAKER_01]: Yes, of course.
9:33
[SPEAKER_01]: And I glad you say it like well strategy.
9:36
[SPEAKER_01]: You need to get with someone that's not only going to do your taxes but help you build wealth.
9:40
[SPEAKER_01]: and save on taxes all together.
9:42
[SPEAKER_01]: I always say if you have a tax professional and you're comfortable with them, you don't have to bounce around.
9:52
[SPEAKER_01]: Stay with who you're comfortable with and on the flip side.
9:56
[SPEAKER_01]: Don't be afraid to try someone new.
9:57
[SPEAKER_01]: If you know, you're not getting the services that you you know, supposed to have that you, you know,
10:04
[SPEAKER_02]: Yeah.
10:05
[SPEAKER_02]: Well, you know, you, you've been featured for uncovering overlooked deductions, right?
10:11
[SPEAKER_02]: What are three deductions?
10:12
[SPEAKER_02]: Most six bigger entrepreneurs are legally missing out on.
10:16
[SPEAKER_01]: When I'm going to say the home office deduction, everybody know about the home office deduction.
10:22
[SPEAKER_01]: And every since COVID, most business owners are working from home.
10:25
[SPEAKER_01]: I just shut down all my offices.
10:27
[SPEAKER_01]: I work from home, but me and my husband work from home.
10:31
[SPEAKER_01]: So if you have a spouse, both of you guys are working from home, you can combine that deduction.
10:37
[SPEAKER_01]: So if your husband have a space that he worked from and you have a space, you can combine the square footage
10:46
[SPEAKER_01]: A lot of people didn't know that, and then hiring your family, hiring your kids, that's a huge deduction.
10:53
[SPEAKER_02]: Yeah, and I have my 17 year old daughter as my assistant actually, so she gets a salary.
11:03
[SPEAKER_02]: And she answers the emails that she sets up the beat.
11:06
[SPEAKER_02]: And it makes them responsible.
11:07
[SPEAKER_02]: And I would love about it.
11:10
[SPEAKER_02]: And I think any parent who has kids, no matter how old, I mean, is there an age limit like do they have to be?
11:16
[SPEAKER_01]: As long as they're not working like a full-time job, I have any other income, you can pay them up to the standard deduction, and they don't have to fall every turn.
11:25
[SPEAKER_01]: So my son is 10, so I can, oh, yes, you can.
11:27
[SPEAKER_01]: As long as you get, he can be shredding some papers, he, you know, whatever you feel, if it's just coming in, fall in some paperwork, shanning some paperwork, whatever it is, what that a teen you're all can do, you can hire them, give them their job,
11:46
[SPEAKER_01]: Hey, payroll is going to take over that allowance.
11:51
[SPEAKER_02]: You know, allowance anymore.
11:52
[SPEAKER_02]: And that's what I realized, right?
11:54
[SPEAKER_02]: So for me, I realized like my daughter, I should probably know this by now because she's 17.
12:01
[SPEAKER_02]: But I give her a hard time, but there's nothing I'm gonna say no to her.
12:04
[SPEAKER_02]: Like anything, she wants I'm gonna give anything.
12:06
[SPEAKER_02]: And I'll even matter, right?
12:07
[SPEAKER_02]: Like she's asked me for, and she tested it all the time.
12:10
[SPEAKER_02]: She'll do, she'll ask something ridiculous and I'll be like, ah, I'll give her a hard time, but I still do it.
12:17
[SPEAKER_02]: I started realizing like she's very expensive.
12:20
[SPEAKER_02]: And so I said, listen, if I'm a kid, it's been all this money, I might as well be able to deduct it.
12:27
[SPEAKER_02]: And so that was that, that's what we did.
12:30
[SPEAKER_02]: And I had it.
12:32
[SPEAKER_02]: Like literally at the end of the boy.
12:33
[SPEAKER_01]: It's the same as parents.
12:35
[SPEAKER_01]: I have some clients that pay for, they pay for a private school.
12:41
[SPEAKER_01]: So you can put your child on payroll.
12:44
[SPEAKER_01]: They pay for their own schooling.
12:46
[SPEAKER_02]: or a portion of it, because then go, oh yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah,
13:05
[SPEAKER_01]: because it's, you have to think about it.
13:07
[SPEAKER_01]: It's the same way, whether they do what they want to with the money or you put it to where it needs to be.
13:12
[SPEAKER_00]: Yeah.
13:13
[SPEAKER_01]: So with me, staying way, my kids in private school and my son, his money go directly deposited into his account and the portion of his going to go towards the school.
13:22
[SPEAKER_02]: And I like, you know, we're staying
13:29
[SPEAKER_02]: It could be education at the same time, because at the same time, it's showing them, like my daughter is showing her responsibility.
13:39
[SPEAKER_02]: She gets access to like high-level type of conversations that she has to set me in for things of that nature.
13:45
[SPEAKER_02]: But now that I'm, you know, I'm dealing with my son, I'm like, if I could add him to my payroll and then let him pay for his school because he, he'll do it anyway.
13:56
[SPEAKER_01]: Yeah.
13:57
[SPEAKER_02]: And so if I could have him pay for his school, now he understands like, oh, this is how much it calls.
14:03
[SPEAKER_02]: Let me send this.
14:04
[SPEAKER_02]: Let me send this wire for this monthly for the monthly school.
14:09
[SPEAKER_02]: So next time also when when he feel like stand home, he knows no, you can't stay home because look how much
14:16
[SPEAKER_01]: You did have the pay for it, even though you stand at home the day you have the it's coming at you paying for you to be at school.
14:22
[SPEAKER_02]: Right.
14:23
[SPEAKER_02]: What would you say the difference is between someone making 300K and someone keeping 300K.
14:30
[SPEAKER_02]: Hmm, the difference between someone making 300 games and someone like eating it like, you know, like let's let's just say somebody who makes 200k doesn't really You know, using any tax strategies or whatever and they just made the 300k But it's like like what would be the difference between somebody who made 300k and was actually able to like keep the 300k
14:54
[SPEAKER_01]: I would say, are you as to what tech strategies they can use?
14:58
[SPEAKER_00]: Yeah, yeah, yeah.
14:58
[SPEAKER_01]: Okay, so if they keep the 300K, I always recommend don't sit your money in the banks.
15:04
[SPEAKER_01]: So one of the, everybody is talking about the biggest number one tech strategy right now.
15:10
[SPEAKER_01]: It's real estate.
15:11
[SPEAKER_01]: So for me, if I had $300,000 right now and that I'd profit it, it would definitely go back into real estate.
15:17
[SPEAKER_01]: I would have won a tax advantage and be able to reinvest it and make more money out that $300,000.
15:24
[SPEAKER_02]: Yeah, I always hear about the strategy called buyborrow.de.
15:30
[SPEAKER_02]: right where like you said you have 300k you buy the property and then and then you just confirm if this is true you can borrow against that 300k now or whatever the bank lets you borrow against
15:46
[SPEAKER_02]: and there's no taxes on debt.
15:48
[SPEAKER_01]: No, it's not.
15:50
[SPEAKER_02]: So they use that money tax rate.
15:53
[SPEAKER_01]: You can use that money tax.
15:54
[SPEAKER_01]: And that's legal.
15:55
[SPEAKER_01]: It's legal.
15:56
[SPEAKER_01]: If you have a property that has equity, you can pull that out.
15:59
[SPEAKER_01]: Like it's so many strategies around real estate.
16:04
[SPEAKER_01]: You can depreciate that property.
16:06
[SPEAKER_01]: I know some people make, like I had a guy made $800,000.
16:10
[SPEAKER_01]: profit and then pay no taxes because he have riddles he have doors and he was able to appreciate those properties and you know of course a few others but the good thing remember what I said before it's still it's considered income when he get ready to buy a house or you know go get a loan to get more properties if you want it to.
16:29
[SPEAKER_02]: Wow wow wow.
16:31
[SPEAKER_02]: And so what do you think right and like
16:37
[SPEAKER_02]: to punish the everyday person, reward, business owners, like who was the tax co-creating for?
16:44
[SPEAKER_01]: I think the tax code was created for the rich, but then at some point the rich found away in a loophole to not pay taxes and so a lot of us are just found in this out.
16:55
[SPEAKER_01]: I have clients that been paying taxes for years didn't know anything about strategy.
16:59
[SPEAKER_01]: They was putting money to the side, but today in age, you can make as much as you want and pay little to no taxes.
17:08
[SPEAKER_02]: Wow.
17:08
[SPEAKER_02]: Did you, did you, did you, did you drop with money?
17:10
[SPEAKER_02]: Like, what was yours?
17:11
[SPEAKER_01]: No, no, no, no, I came from one of the poorest places of Dallas, right?
17:15
[SPEAKER_01]: I didn't know anything about money.
17:17
[SPEAKER_01]: I didn't have no mentors.
17:18
[SPEAKER_01]: I didn't, you know, I was, honestly poor growing up.
17:21
[SPEAKER_01]: Wow.
17:22
[SPEAKER_01]: So I didn't understand money.
17:23
[SPEAKER_01]: It took me a while to fully understand money and how to move money and the value of money.
17:29
[SPEAKER_02]: Yeah.
17:30
[SPEAKER_02]: So what made you want to become an accountant and give it to me?
17:34
[SPEAKER_01]: It actually landed in my life.
17:35
[SPEAKER_01]: This is nothing that I wanted to do.
17:37
[SPEAKER_01]: I was 19.
17:39
[SPEAKER_01]: All my own.
17:41
[SPEAKER_01]: I raised my little brother at the time.
17:42
[SPEAKER_01]: He was nine.
17:43
[SPEAKER_01]: I was 18.
17:44
[SPEAKER_01]: I moved out of my home.
17:46
[SPEAKER_01]: Got my own apartment by the age of 19.
17:48
[SPEAKER_01]: I was pregnant with my first child.
17:50
[SPEAKER_01]: So I was working a full-time job, trying to make ends meet.
17:53
[SPEAKER_01]: And I started looking for a part-time job.
17:56
[SPEAKER_01]: and I filled out about 14, 15 applications.
18:00
[SPEAKER_01]: Only one place called me back.
18:02
[SPEAKER_01]: And that was the tax company.
18:03
[SPEAKER_01]: Wow.
18:04
[SPEAKER_01]: And so I was like, for me, I'm just looking at, okay, let me, well, when they first called me, I'm like, tax is, I don't know.
18:10
[SPEAKER_01]: And for that, I took me mad at school, you know?
18:13
[SPEAKER_01]: But when I started, it was really easy.
18:17
[SPEAKER_01]: When I was getting people $8,000 back 10,000, I was like, oh, look at your deraille.
18:22
[SPEAKER_01]: She didn't pay for my dad.
18:24
[SPEAKER_01]: Um, I just took it out ran with it because I've always liked to help people, right?
18:29
[SPEAKER_01]: And I, when I see the joy on the people, these people face when they get in this much money back and I was able to help them do it, I just, it was, it was, it was, it, it brought joy and I love it and so from there I kept doing taxes.
18:42
[SPEAKER_02]: Wow.
18:42
[SPEAKER_02]: Wow.
18:43
[SPEAKER_02]: So from, it's like the blessing right from, um, you know, taking care of your brother, uh, to, it's, you know, to
18:54
[SPEAKER_02]: right from taking care of brother to being a teenage mom, uh, landed you into this business that has, you know, you have, you have made millions, you have helped other people, you know, saved millions, make millions.
19:07
[SPEAKER_02]: Um, what would you say is like anybody trying to get into this space?
19:13
[SPEAKER_02]: Like what, um, what's the first thing that they should know about the tax business?
19:18
[SPEAKER_01]: The tax business is lucrative, like I've right now I mentor over 200 business owners with most of them making six figures and I have helped numerous of people make seven figures in this industry.
19:32
[SPEAKER_01]: If you're looking to get into what I was to just take it serious because I tried different things along the way and there was no money made like the money in the tax industry.
19:42
[SPEAKER_01]: But you do have to have a heart forward and love it.
19:45
[SPEAKER_01]: And I just, I mean, get in and lock in and if there's something you really, really want to do because it's lucrative and it can open doors to many other things and the truth is like taxes and something that's never going to go away.
19:59
[SPEAKER_02]: Never going to go away.
20:00
[SPEAKER_02]: If there's a recession, depression.
20:03
[SPEAKER_02]: I risk on one as money.
20:04
[SPEAKER_01]: When COVID, everybody was out of work, COVID.
20:06
[SPEAKER_01]: I'm failing taxes.
20:08
[SPEAKER_01]: I didn't come, I created a system where my clients can do everything virtual from the time they send me the information to the time of signing their tax return and submitting.
20:19
[SPEAKER_01]: I was still making money during the pandemic.
20:21
[SPEAKER_02]: How do you learn, because speaking of pandemic, I want to say during the pandemic, we saw a rise in the financial expert, right?
20:32
[SPEAKER_02]: and what I mean, but that prior to the pandemic, you had to have some type of credentials, like you couldn't just come out of nowhere and say, I'm a tax strategy.
20:42
[SPEAKER_02]: So I do funding, why do whatever.
20:44
[SPEAKER_02]: Like you had to have some type of skittling again.
20:49
[SPEAKER_02]: After COVID, it just kind of ramped up by 1,000, right?
20:54
[SPEAKER_02]: What would you say is like the biggest lie, these social media, financial experts are telling people
21:03
[SPEAKER_01]: Um, they're feeding them a lot of write-offs that cause them to look broke and, you know, when they go to the bank, I wouldn't say there's a lot of myths or false information.
21:18
[SPEAKER_01]: It's just the way you use it.
21:19
[SPEAKER_01]: Yeah.
21:19
[SPEAKER_01]: So they give you a lot of information and things that you can write out.
21:23
[SPEAKER_01]: But if you're trying to grow within your business, if you're trying to take your business to the next level, get funding or purchase the home, whatever you're trying to do, it has your financials has to tell the story.
21:34
[SPEAKER_01]: So you can go and listen to everyone on social media telling you right off all this stuff, you know.
21:40
[SPEAKER_01]: go on vacation, which you can, go right off your vacation.
21:43
[SPEAKER_01]: But too many ride-offs would cause you to look broke.
21:47
[SPEAKER_01]: And your financial stories, it has a dent in it, because you tell to me, you make all this money, but looking at it on paper, you make nothing.
21:55
[SPEAKER_02]: Yeah, yeah, I was like, I got that.
21:57
[SPEAKER_02]: Should everybody start an LLC, is that the easiest way to start taking the advantage of, like, well strategies?
22:07
[SPEAKER_01]: I would say it just depends on where you at and if you already have a business, some people can have an escort and they can't.
22:14
[SPEAKER_01]: Of course, have multiple LLCs under that one umbrella.
22:19
[SPEAKER_01]: A lot of people just have a vision and hit in their mind and just go get a LLC.
22:24
[SPEAKER_01]: No, it doesn't work like that.
22:26
[SPEAKER_01]: Have a business plan together.
22:27
[SPEAKER_01]: So when you do get that LLC, you able to put it to work and actually use it.
22:32
[SPEAKER_01]: But just because you have a thought, does it mean you have to go get a LLC?
22:36
[SPEAKER_02]: Yeah, yeah, I love that.
22:37
[SPEAKER_02]: And let's just say right now, somebody's watching, they make about 150,000, I mean, 150,000 last year, but they feel broke.
22:46
[SPEAKER_02]: They don't feel like they got no money, they don't have anything.
22:49
[SPEAKER_02]: What are like the first three things they should should audit immediately?
22:53
[SPEAKER_01]: their financials.
22:55
[SPEAKER_01]: Sometimes you could be spending way more money on marketing than you should or supplies.
23:01
[SPEAKER_01]: That's why I have in those financials and proper bookkeeping employees, whether you do it yourself or you have an expert do it, you're able to look at what's coming into the business and what's going out and you won't have to overspin.
23:15
[SPEAKER_01]: If you're making like 150,000
23:18
[SPEAKER_01]: 50,000, just make sure your expenses are at minimum to where you're still profiting and you able to survive.
23:26
[SPEAKER_02]: Yeah, I love that.
23:27
[SPEAKER_02]: And so you started Thomas Tax Academy.
23:30
[SPEAKER_02]: What was the inspiration like around you getting into the education space now?
23:38
[SPEAKER_01]: that's the dirt of my heart.
23:40
[SPEAKER_01]: It was a lot.
23:41
[SPEAKER_01]: But when I started doing Texas, there was no mentors.
23:45
[SPEAKER_01]: You know, we barely had internet.
23:46
[SPEAKER_01]: I think I first social media site was my space back at a day.
23:50
[SPEAKER_01]: So I had, oh man, I lost a lot.
23:53
[SPEAKER_01]: I went through a lot of traveling errors and one thing about it, Texas saved my life.
23:59
[SPEAKER_01]: It changed my life.
24:00
[SPEAKER_01]: And so I wanted other people to experience what it is to, you know, have a business and make money.
24:07
[SPEAKER_01]: When I started mentoring, nobody, it was like a secret to tell people how to store the tax business.
24:14
[SPEAKER_01]: So I was one of the first to teach people how to get an even, which is what you're needing to about to store the tax business.
24:22
[SPEAKER_01]: and get all the registrations to store the business going into what I didn't was a structure the way it should have like hang a lot my first class.
24:31
[SPEAKER_01]: It was the one day class, I charged $2.99 and I taught for eight hours and I thought they had everything they need to be successful.
24:39
[SPEAKER_01]: So over the time, things got better, my program grew, got, you know, the structure and everything, and I was able to help people.
24:46
[SPEAKER_01]: Especially when I was able to help people make seven figures.
24:49
[SPEAKER_01]: People that came from the same background I come from, from nothing.
24:54
[SPEAKER_01]: So it was just a blessing to be able to give back and help people.
24:58
[SPEAKER_02]: Yeah, um, 12, 12 a little bit about some of the things that you teaches out of the academy.
25:04
[SPEAKER_02]: How do you turn chaos into clarity?
25:07
[SPEAKER_01]: Whoo, the main thing in the text, business, or any business structure.
25:10
[SPEAKER_01]: I always tell people that first figures is hustle, but then first, seven figures is structure.
25:17
[SPEAKER_01]: Everybody have a lot of people have that hustle in that tribe, but if you don't have the systems and automation is in place, and the systems, then it's hard to run a business.
25:27
[SPEAKER_01]: So inside of my program, when you come in, it's like a one stop shop.
25:31
[SPEAKER_01]: My routine is their year one.
25:33
[SPEAKER_01]: I'm going to give them everything that I know, the full blueprint.
25:36
[SPEAKER_01]: They're going to show them how to complete a tax return from beginning to the end, how to recruit, and how to bring in partners.
25:43
[SPEAKER_01]: and everything is streamlined.
25:45
[SPEAKER_01]: Every process within the business is automated.
25:49
[SPEAKER_01]: So that business owner can lead like a real CEO and just focus on building that business.
25:55
[SPEAKER_01]: I do have my own CRM.
25:57
[SPEAKER_01]: So anybody coming to my program, their website is built out, the CRM is there, the systems in place, and I have a full academy with instructors to teach them everything that they need.
26:08
[SPEAKER_02]: And if it's this, if it's this one of those businesses that, um, you got a, like, like, once you lock in, this is your only business or like, let's just say that somebody watching that has a nine or five, then I've already leave that nine or five, could they start this business?
26:23
[SPEAKER_01]: Yes, I suggest don't leave your nine or five until you get to a place where you want to be financially.
26:29
[SPEAKER_01]: But with taxes you can do a virtual.
26:32
[SPEAKER_01]: Most up right now 80% of tax professionals are running a virtual business, meaning that you can do taxes at whatever time of the day you like you have a system in place where your clients submit the documents to you and then you're able to complete those tax returns at any time.
26:49
[SPEAKER_02]: No, I love that, I love that.
26:51
[SPEAKER_02]: And so you, you look, yeah, mentorship, you have your, you know, your academy, you're doing something special, right?
27:00
[SPEAKER_02]: You're running a challenge.
27:02
[SPEAKER_02]: Talk a little bit about that challenge.
27:03
[SPEAKER_01]: So the reason, the name of my challenge, or I don't call it a challenge, I call it mastermind.
27:09
[SPEAKER_01]: It's the three day virtual mastermind in its call strings to millions.
27:13
[SPEAKER_01]: And the only reason I want to focus more on that is because I've helped people make a lot of money within their business.
27:21
[SPEAKER_01]: But I now want to show them how to take that money, keep it and invest it into multiple streams.
27:26
[SPEAKER_01]: In this program, in this three-day mastermind, I'm going to teach them how to invest in real estate, get into the digital game, with digital products,
27:40
[SPEAKER_01]: It happened to those other streams because when I started, yeah, I did a taxes.
27:44
[SPEAKER_01]: I did not make my first step and figure off only to a taxes.
27:48
[SPEAKER_01]: I did multiple things with a under my financial services that helped me fast-track.
27:53
[SPEAKER_02]: Yeah, I love that because I think that, you know, there's so much opportunity out there now.
27:59
[SPEAKER_02]: And when people hear millions, I don't know, I don't think people realize
28:06
[SPEAKER_02]: how easy, if taught the right things, it is to become a millionaire, to make millions of dollars and to your point having the different streams though, I'm gonna help that and so, you know, like you say, right, learning, you know, how to focus on those streams but really funding that people always need, how to structure a business, like why would, why would, why would
28:33
[SPEAKER_02]: uh, what's the benefit right of somebody spending three days with you like all right like like what what what is that that special sauce that Dr. Rosie is putting on there is going to help me I'm like I feel like these three days is going to help people reach
28:48
[SPEAKER_01]: it's going to give them what they've been looking for.
28:50
[SPEAKER_01]: Right.
28:51
[SPEAKER_01]: So a lot of people always looking for that breakthrough.
28:53
[SPEAKER_00]: Yeah.
28:54
[SPEAKER_01]: How can I do better?
28:55
[SPEAKER_01]: How can I make more?
28:57
[SPEAKER_01]: Yeah.
28:57
[SPEAKER_01]: And in this three days, I'm going to show you how to make money with the clients that you already have.
29:01
[SPEAKER_01]: So you don't have to market to get more clients.
29:03
[SPEAKER_01]: We just have to service the clients that you already have.
29:06
[SPEAKER_01]: So I'm going to teach you how to serve as your client list and make more money as well as serve a benefit to the clients that you already have.
29:17
[SPEAKER_02]: I love that.
29:18
[SPEAKER_02]: What is your long-term goal, right?
29:21
[SPEAKER_02]: Because you've been, you know, you've won humanitarian awards, wealth building awards, like what impact do you want to leave on the world?
29:31
[SPEAKER_02]: Like what matters to you most as a business owner at this point?
29:34
[SPEAKER_01]: I want to.
29:35
[SPEAKER_01]: on this lead to touch more people.
29:38
[SPEAKER_01]: I want to expand my academy from not just being a tax academy, but an entrepreneur academy, a business academy.
29:46
[SPEAKER_01]: Because I feel like I've helped people build a structure tax business.
29:52
[SPEAKER_01]: I can do the exact same thing with any business.
29:55
[SPEAKER_01]: And I feel like, you know, God gave me this gift and he put me here to serve and I want to serve more people so they can understand what their financials are supposed to look like, how to secure their money and how to make more money and service, you know, the clients that they have.
30:11
[SPEAKER_01]: But I just want to touch more people.
30:13
[SPEAKER_02]: Yeah.
30:13
[SPEAKER_02]: Yeah.
30:14
[SPEAKER_02]: Would you say, having a lot of money is like
30:20
[SPEAKER_02]: Is that a good thing, it's like, like, how do I say this?
30:24
[SPEAKER_02]: It's like, you know, I hear people all the time, it would be like, oh, it's not about the money or this, like, what should thoughts about people making a lot of money?
30:34
[SPEAKER_01]: For me, the money will come.
30:36
[SPEAKER_01]: I guess not about having a lot of money.
30:38
[SPEAKER_01]: If you are truly dedicated and love what you do,
30:44
[SPEAKER_01]: and you're so goal is to help people, the money will flow, it'll come.
30:49
[SPEAKER_01]: And having a lot of money, sometimes come with problems too.
30:53
[SPEAKER_01]: So you could talk about, oh, I made millions, I made this.
30:56
[SPEAKER_01]: People don't know, like when you make that type of money, your lifestyle change, your expenses change, and that bottom line could be a little bit different than what, you know, everyone thinks.
31:07
[SPEAKER_01]: So.
31:07
[SPEAKER_02]: And there's no training for you.
31:09
[SPEAKER_02]: Especially somebody who may not necessarily come from money, you've never seen whatever it looks like.
31:16
[SPEAKER_02]: So now you make a lot of mistakes.
31:19
[SPEAKER_02]: I tell you from experience like you start making a lot of money.
31:22
[SPEAKER_02]: You make a lot of mistakes.
31:23
[SPEAKER_01]: Yeah.
31:24
[SPEAKER_01]: I told Jack came from nothing.
31:25
[SPEAKER_01]: My first year like branching off in partner with someone.
31:29
[SPEAKER_01]: I made about $200,000 in February.
31:34
[SPEAKER_01]: I told why I was broke.
31:36
[SPEAKER_01]: It sounds like a lot of money.
31:38
[SPEAKER_01]: I wasn't used to that, but I was thinking, I got all this money.
31:42
[SPEAKER_01]: Okay, let me go cash out of court.
31:43
[SPEAKER_01]: Let me go take some truths.
31:44
[SPEAKER_01]: Let me just, and before you know it, because I didn't know how to manage your money.
31:47
[SPEAKER_01]: Wow.
31:48
[SPEAKER_01]: So I could say I had it and talk about it all day long, but I really don't have it.
31:53
[SPEAKER_02]: No more.
31:54
[SPEAKER_02]: Wow.
31:55
[SPEAKER_02]: And that's the thing, no.
31:55
[SPEAKER_02]: I think people don't realize that with money, there's a making of the money.
32:01
[SPEAKER_02]: There's a managing of the money within that third piece which is multiplying the money, right?
32:06
[SPEAKER_02]: And that multiplying the money is worth what's necessary.
32:09
[SPEAKER_02]: If somebody wanted to scale from six to seven figures without losing everything to taxes, what mindset shift must they have first?
32:18
[SPEAKER_02]: I'm sorry to tax is like, are you saying tax industry person or no, so like see say somebody is is making six figures and then scaling to seven figures, but they don't want to lose that money that they made too fast here.
32:33
[SPEAKER_02]: That's it.
32:34
[SPEAKER_02]: All right, guys, you might have to get the game.
32:37
[SPEAKER_02]: So let's say, someone wants to scale, right?
32:41
[SPEAKER_02]: So they currently make it six figures.
32:42
[SPEAKER_02]: They're scaling from six to seven figures.
32:46
[SPEAKER_02]: What kind of mindset shift do they have to have to make sure that they're not like losing all of that extra income to the IRS?
32:54
[SPEAKER_01]: I would say to invest in an accountant, as tax strategies, as tax strategies, when you start making a certain amount of money, you store elevator, you need to put people in place to help you save that money and keep the money.
33:09
[SPEAKER_01]: So I highly recommend if that's you cause a lot of entrepreneurs get afraid.
33:13
[SPEAKER_01]: when they start making more money, especially pushing to seven figures.
33:16
[SPEAKER_01]: The first thing they think about, oh my god, I'm not to pay so much in taxis.
33:20
[SPEAKER_01]: But if you go to your strategies or your tax professional or account CPA, head on, I would say,
33:28
[SPEAKER_01]: Third, fourth quarter, they'll be able to tell you what your projected taxes that you're going to pay and they'll be able to put some strategies and some plans together to help you save.
33:38
[SPEAKER_01]: So if you're one of those people, you need to be sent down with a tax planner, ace that.
33:44
[SPEAKER_01]: Yeah.
33:44
[SPEAKER_01]: So make sure that you're not.
33:45
[SPEAKER_01]: You keep it at money and your pocket and not spending money.
33:47
[SPEAKER_02]: How do you get over that fear of, like Cabin you mentioned earlier, right, like, you know, influencers or anybody, really does that make some money.
33:59
[SPEAKER_02]: There's this fear of giving their information to somebody, is this fear of, you know, someone seeing them naked, right?
34:07
[SPEAKER_02]: We don't know.
34:08
[SPEAKER_02]: that finance is a serious thing, you know, I was a former banker and so I'll tell you 90% of people don't know about money and this is not black, white, Hispanic, Asian, 90% of people don't know anything about money number one, number two, what they do know about money is not enough to help them save any significant amount of money so when we're looking at people's
34:33
[SPEAKER_02]: financials, most likely there's issues with them.
34:38
[SPEAKER_02]: But for some reason, us, our community, we kind of feel like we want to present perfect, or it's almost like not going to say doctor.
34:47
[SPEAKER_02]: It's like, all right, go go to the doctor.
34:49
[SPEAKER_02]: Because,
34:50
[SPEAKER_02]: It's a doctor don't tell, if nobody tell me I have a lot of pressure in the eye, I have a lot of pressure.
34:54
[SPEAKER_02]: Yeah.
34:54
[SPEAKER_02]: So it kind of feels like that.
34:58
[SPEAKER_02]: Like, how do we, I don't know, like how do you change that mindset?
35:01
[SPEAKER_02]: How do you get people crusting professionals and being willing to be vulnerable, especially as they're growing?
35:12
[SPEAKER_01]: Yeah, so when it comes to accounting,
35:15
[SPEAKER_01]: There is no judge me, so we, when we, where everybody else is you?
35:20
[SPEAKER_01]: I know it mean.
35:21
[SPEAKER_01]: There's no judge me, so I'll read the for you to take care of the problem before the IRS come behind you.
35:25
[SPEAKER_01]: Then you'll be running to me.
35:26
[SPEAKER_00]: Yeah, yeah.
35:27
[SPEAKER_01]: Um, but when I look at tax returns, I'm looking at numbers.
35:30
[SPEAKER_01]: I'm looking at the story.
35:31
[SPEAKER_01]: I'm looking at financials.
35:33
[SPEAKER_01]: I don't care what you put on social media, or you say you make dead doesn't bother me, or I don't pay that no attention.
35:39
[SPEAKER_01]: My soul goal is to help you save on taxes and get your taxes bail and your financials together.
35:45
[SPEAKER_01]: Um, so you won't have that burden or thinking about what is going to happen if you don't file.
35:51
[SPEAKER_01]: But I think a lot of people have ego issues and just need to drop those.
35:56
[SPEAKER_01]: Especially if you have someone that knows what they're doing, especially if you know other people that has, um, worked with this person.
36:05
[SPEAKER_00]: Yeah.
36:05
[SPEAKER_01]: I don't think you should think about, oh, she gonna know how much I make or she's gonna know that I'm irresponsible or whatever the case can best what be going through their hair.
36:15
[SPEAKER_01]: Because even with us accounts, we're human.
36:18
[SPEAKER_01]: We don't walk a straight line.
36:20
[SPEAKER_01]: Even though we know we're supposed to.
36:22
[SPEAKER_01]: So there's no judgment zone with judgment whatsoever.
36:27
[SPEAKER_01]: Just swallow your pride.
36:29
[SPEAKER_01]: and get it done before the IRS come behind you and make you do it.
36:33
[SPEAKER_02]: Yeah, yeah.
36:33
[SPEAKER_02]: Not because I remember, I remember one time I had a bad year, right?
36:36
[SPEAKER_02]: That was just, I was making, I was making more money than I've ever made before in my life, but then I was also spending a lot of, I was making a lot of dumb decisions.
36:47
[SPEAKER_02]: But at the same time, I had already been popular.
36:50
[SPEAKER_02]: And so I was the, I was afraid, I was like, I'm afraid, and that's to your point that I had to,
36:59
[SPEAKER_02]: almost like swallowing the ego, it was like, all right, let me find this person that I know they know what they're doing or whatever and you know, really, and the funny thing about it is that once you find the right person, you ain't gonna feel the kind of way anyway, you know what I'm saying?
37:13
[SPEAKER_02]: Because you're gonna feel their energy and then you're gonna realize like, okay, like this person's, you know, forming.
37:21
[SPEAKER_02]: Talk about some of the successes that you've had within your program.
37:24
[SPEAKER_02]: You know, some of your students, like people who have, you know, taken the information that you've given them and, you know, take taking their lives at the next level.
37:35
[SPEAKER_01]: So in my tax academy, I actually had someone recently joined my program two years ago.
37:40
[SPEAKER_01]: Their first year, they made $174,000.
37:42
[SPEAKER_01]: And the second year, they made $1.5 million.
37:47
[SPEAKER_01]: That was great.
37:48
[SPEAKER_01]: That's the most craziest testimony thing that it was big for me, but that person had
37:58
[SPEAKER_01]: that ambition.
37:59
[SPEAKER_01]: They they had that hustle.
38:01
[SPEAKER_01]: Right.
38:02
[SPEAKER_01]: Um, and he's like, what?
38:03
[SPEAKER_01]: How did they?
38:04
[SPEAKER_01]: They followed the blueprint.
38:05
[SPEAKER_01]: They followed the blueprint.
38:07
[SPEAKER_01]: A lot of people will come in and they have step.
38:09
[SPEAKER_01]: But if you come in and someone is making the money already, they have the blueprint.
38:14
[SPEAKER_01]: If you come in and you follow it, you can make pretty much the same amount.
38:18
[SPEAKER_01]: especially in the tax industry.
38:19
[SPEAKER_01]: I can talk about that industry.
38:21
[SPEAKER_01]: But yes, they were able to and let's just put in the right systems in place.
38:26
[SPEAKER_01]: I can't, I can't stress that an up systems in out of main your business, put more give you more time to focus on running the business, bringing in more money.
38:35
[SPEAKER_01]: You know, so you should be sitting here doing everything manually, but putting those systems together, those strategies, a retention system, just putting those systems in place definitely will get you where you need to be in business.
38:50
[SPEAKER_01]: It's say my life.
38:51
[SPEAKER_02]: Yeah.
38:51
[SPEAKER_02]: Yeah.
38:52
[SPEAKER_02]: And I could have tested that.
38:53
[SPEAKER_02]: I think that's one of the biggest things that entrepreneurs or people don't realize in general, that systems are designed to save you time, right?
39:03
[SPEAKER_02]: Save your energy, save you money.
39:06
[SPEAKER_02]: And if people implement systems earlier, they would be, you know, well, well, well, well on their way.
39:13
[SPEAKER_01]: And I live one thing out.
39:17
[SPEAKER_01]: delegating.
39:20
[SPEAKER_01]: So I know for years and I meet a lot of people.
39:23
[SPEAKER_01]: They don't want to hand over the baby.
39:24
[SPEAKER_01]: They think nobody can do it like them.
39:26
[SPEAKER_01]: When I tell you, you got people that can do it better than you.
39:29
[SPEAKER_01]: If everybody is playing their part, everything gets done.
39:33
[SPEAKER_01]: So don't be afraid to delegate especially.
39:36
[SPEAKER_01]: Like I know, even with you, like I know you've been entrepreneur for a while.
39:40
[SPEAKER_01]: You didn't always delegate.
39:42
[SPEAKER_02]: Oh, that's the fact.
39:43
[SPEAKER_02]: Yeah, like I was on my Tyler Perry.
39:45
[SPEAKER_02]: I wanted to do everything.
39:46
[SPEAKER_02]: And to your point though, I will say that when you're like the jack of all trade trying to do everything, you are really like stifing in your growth, right?
39:57
[SPEAKER_02]: Because I know for me, like I run so many different businesses, but what's made me successful is making sure with every business I have,
40:06
[SPEAKER_02]: There's like a main point person, whether this person is a partner, whether that person were with me, whether they were for me, there's usually a main person that I go to for each thing.
40:19
[SPEAKER_02]: So that way, I know I'm not dropping the ball, like this person manages that, that person manages that.
40:26
[SPEAKER_02]: Um, and yeah, I mean, it's tough in the beginning, but when you start to see the difference that you can make between trying to do everything yourself, the burnout, the, you know, the tiredness, all that stuff compared to like, all right, if I let you do it, yes, if I let somebody else do it, it's going to free me up, it's been, it's been a, it's been a game change.
40:46
[SPEAKER_01]: And I'm glad you said that, because that makes a difference too.
40:49
[SPEAKER_01]: Like you should have an operations manager, a someone who delegate the task to the rest of the team.
40:55
[SPEAKER_01]: You don't want everybody, you know, reporting to you.
40:57
[SPEAKER_01]: So you give everything to the operations manager and let that operation manager delegate those tasks to the rest of the people and it works out great.
41:05
[SPEAKER_01]: A lot of times, I like mines and I'm pretty sure you're that dedicated person.
41:09
[SPEAKER_01]: They know what you like.
41:10
[SPEAKER_01]: They know what you want.
41:11
[SPEAKER_01]: They've been around you long enough.
41:12
[SPEAKER_01]: They may be talking like that.
41:13
[SPEAKER_02]: That's a fact.
41:14
[SPEAKER_02]: Yeah.
41:14
[SPEAKER_01]: So that is very important to have the dedication, what the dedicate, delegate things within your business.
41:22
[SPEAKER_02]: Yeah.
41:23
[SPEAKER_02]: When it's all set and done, you know, what do you want?
41:26
[SPEAKER_02]: What do you want Dr. Rosie's legacy to be?
41:29
[SPEAKER_01]: My legacy is just, well, leaving something for my kids to live on like my my keys.
41:36
[SPEAKER_01]: They do taxes.
41:36
[SPEAKER_01]: They regretted repair.
41:38
[SPEAKER_01]: Oh, yeah, they're looking for newers.
41:41
[SPEAKER_01]: I have three.
41:42
[SPEAKER_01]: Okay.
41:42
[SPEAKER_01]: My oldest 24.
41:43
[SPEAKER_01]: I have a 16 year old and I have a seven year old.
41:45
[SPEAKER_01]: Wow.
41:46
[SPEAKER_01]: Yes.
41:46
[SPEAKER_01]: So, and my daughter, she's my assistant.
41:49
[SPEAKER_01]: She helped me with everything.
41:50
[SPEAKER_01]: So, when I leave this world, my
41:56
[SPEAKER_02]: So you got the succession plan everything already I'm putting them to work my son He's 16.
42:03
[SPEAKER_01]: Yeah, he's gonna I'm put you you got to do something this video what you want to do Sign so he's he's getting in and into it and he's doing different things He want to learn how to do taxes data entry
42:14
[SPEAKER_01]: So he sees the vision and he sees it, it's working.
42:19
[SPEAKER_02]: That's what was blessed is that to be able to work with your kids.
42:22
[SPEAKER_01]: It's a blessing.
42:23
[SPEAKER_01]: It's a blessing, like, because I didn't have no one so important to me like that.
42:27
[SPEAKER_01]: And so I inspire my kids.
42:29
[SPEAKER_01]: They tell me all the time, like, mom, you doing your thing.
42:33
[SPEAKER_01]: And I want to take away from my husband, too, because he, he holds it down for us.
42:37
[SPEAKER_01]: Like, me and my husband been together two years, just as long as I've been doing this.
42:40
[SPEAKER_01]: Yeah, we've been together all our life.
42:43
[SPEAKER_01]: So we do this thing together.
42:45
[SPEAKER_01]: All right.
42:46
[SPEAKER_01]: And he made that work like that.
42:47
[SPEAKER_01]: Yeah, don't bump ads or it.
42:48
[SPEAKER_01]: Oh, my husband's so laid back to you and he's just so supportive of you see like when he's with me everybody Like he is so cuz he's everywhere and if I need this he's gonna get it and this vice versa with his you know his business Yeah, I'm there for him.
43:02
[SPEAKER_01]: Yeah, but our family like we all like a business inside of our home everybody plays the poor everybody have their chores
43:11
[SPEAKER_01]: They're on payroll.
43:12
[SPEAKER_01]: They have their their job description and they're about to do what they supposed to do I love that.
43:18
[SPEAKER_02]: I love that.
43:18
[SPEAKER_02]: I love that.
43:19
[SPEAKER_02]: And so three day challenge, right?
43:22
[SPEAKER_02]: You want You know, you're gonna you're gonna scream your way to millions.
43:27
[SPEAKER_02]: Give me give me the the mindset though, right?
43:30
[SPEAKER_02]: Like
43:31
[SPEAKER_02]: I don't know.
43:32
[SPEAKER_02]: I think I think it could be like a shocker to people if they don't prepare for the millions.
43:38
[SPEAKER_02]: Like if they don't like, I don't know if I said they want to be a million and something we even say want to be billionaires, right?
43:45
[SPEAKER_02]: But there's like a level of like preparation, right?
43:48
[SPEAKER_02]: What type of how do you prepare yourself to actually like receive millions?
43:54
[SPEAKER_01]: Oh, you have to have some discipline, structure.
43:58
[SPEAKER_01]: And for me, what helped me out and helped me manage, no lies is reinvesting.
44:04
[SPEAKER_01]: So instead of my money sitting there, I don't want to see it.
44:07
[SPEAKER_01]: Let me reinvest it and let it work for itself.
44:09
[SPEAKER_01]: That's good.
44:10
[SPEAKER_01]: So as long as the money is sitting here account, oh, I got 2,300,000.
44:14
[SPEAKER_01]: No.
44:15
[SPEAKER_01]: Reinvested, I don't think should be sitting your bank account and I'm gonna teach this on this three-day Mastermind.
44:21
[SPEAKER_01]: I'm gonna show you how to get the money, but I'm gonna show you how to secure it How to keep it and how to invest it because that's one thing that wasn't taught to me Like I was taught how to get the money, but no one ever showed me how to manage it and how to invest it So in here, I'm pretty much it's gonna give my Life story and the things that help me
44:41
[SPEAKER_01]: along the way and I'm going to pour in some of my people because a lot of people they have the gift.
44:47
[SPEAKER_01]: They have the vision.
44:48
[SPEAKER_01]: But they just don't know how to apply it.
44:50
[SPEAKER_01]: They don't know the systems.
44:52
[SPEAKER_01]: They don't know how to keep it.
44:53
[SPEAKER_01]: They don't know what it is to have a trust.
44:56
[SPEAKER_01]: You know, they don't know what it is.
44:57
[SPEAKER_01]: You know, to have a proper structure with babies.
45:01
[SPEAKER_01]: They just think, you know, getting the LLC and LSE authority.
45:03
[SPEAKER_01]: No, I'm going to break down.
45:05
[SPEAKER_01]: every single thing from starting your business, putting the right systems in place, securing your money, securing your assets, and how to invest to save on taxes.
45:18
[SPEAKER_02]: Man, that's powerful.
45:20
[SPEAKER_02]: Like this is just so much it's so needed, especially now because
45:27
[SPEAKER_02]: There's a wealth treasure happening like they are saying the baby boomers are leaving like trillions of dollars, you know, now you got, you know, Jinx, Gen Z, Millennials like all these inheritors of wealth.
45:42
[SPEAKER_02]: If you don't learn how to manage that, if you don't learn how to multiply, if you don't learn how to receive it and that's one thing I want to say that I appreciate or I want to just touch on is like when you make all this money, you don't have to spend it.
46:01
[SPEAKER_02]: Like yes, I mean, this is why I love Real Estate too and I love that you're teaching this,
46:14
[SPEAKER_02]: I didn't give rid of the money.
46:16
[SPEAKER_02]: You didn't.
46:16
[SPEAKER_02]: Because now, instead of having this piece of paper, that's really worth nothing, right?
46:24
[SPEAKER_02]: It's just an accepted medium of exchange.
46:28
[SPEAKER_02]: And I take that and I get an actual asset that has value that I could actually, let's just say if it's a rental park on rent and out,
46:40
[SPEAKER_02]: and not only, as I'm renting it out, I still have that asset.
46:45
[SPEAKER_02]: I'm now created money.
46:47
[SPEAKER_02]: Yes.
46:47
[SPEAKER_02]: I've created a level of cash flow for myself.
46:50
[SPEAKER_02]: Like, I mean, that's genius.
46:53
[SPEAKER_02]: That's genius.
46:55
[SPEAKER_01]: They think, you know, we don't get, you're not getting any younger.
46:58
[SPEAKER_01]: You said yourself up a retirement.
47:00
[SPEAKER_01]: Yeah.
47:01
[SPEAKER_01]: You know, if you,
47:02
[SPEAKER_01]: Even if you get to rental properties a year, by the time you retire, you know how much money that is coming to your mailbox Yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah yeah, yeah yeah, yeah yeah, yeah yeah, yeah yeah, yeah yeah, yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah yeah
47:18
[SPEAKER_02]: No, I love it.
47:19
[SPEAKER_02]: I love it.
47:19
[SPEAKER_02]: I love it.
47:19
[SPEAKER_02]: I love it.
47:20
[SPEAKER_02]: So if people wanted to, I met like before we go before each other people would a good join.
47:25
[SPEAKER_02]: Um, is it any question that I didn't ask?
47:27
[SPEAKER_02]: Like maybe it was something that you like, man, ask, I needed you to ask me this question.
47:32
[SPEAKER_02]: What would that be?
47:32
[SPEAKER_01]: What's your thing?
47:33
[SPEAKER_01]: Um, I was there.
47:34
[SPEAKER_01]: What do you didn't ask?
47:35
[SPEAKER_01]: Why don't you talk about it?
47:39
[SPEAKER_02]: Because I want to, because this is coming down before the challenge.
47:44
[SPEAKER_02]: I think what could be, uh,
47:46
[SPEAKER_01]: You want to touch on real estate or you want to touch on digital products?
47:50
[SPEAKER_01]: How much are making it?
47:50
[SPEAKER_02]: Because I know Rod doesn't run x is really what's going.
47:53
[SPEAKER_01]: Yeah, just say, or you, yeah, how, what should be the question?
47:57
[SPEAKER_01]: Talk a lot about real estate.
47:59
[SPEAKER_01]: Yeah, we did.
48:00
[SPEAKER_02]: We talked a lot.
48:01
[SPEAKER_02]: Okay, so I will, I will touch on some digital products and that's pretty much it.
48:04
[SPEAKER_01]: So, so I'm, I'm going crazy with those right now.
48:08
[SPEAKER_02]: I'm like, that's something like that.
48:09
[SPEAKER_02]: Yeah, no, it's you good.
48:10
[SPEAKER_02]: So I'm gonna ask the question again, I'm gonna ask it, I'm gonna just say, is there anything that you wanna me to talk about?
48:15
[SPEAKER_02]: And then your answer would be like, you know what?
48:19
[SPEAKER_02]: I know we told you a lot about real estate, but what about digital real estate?
48:26
[SPEAKER_02]: And then you start talking about digital products.
48:28
[SPEAKER_02]: Okay.
48:29
[SPEAKER_02]: Okay.
48:30
[SPEAKER_02]: And so, is there anything, any question that, you know, I didn't ask that, like, like, you're like, man, I want you inside us to know this.
48:40
[SPEAKER_02]: Like you didn't ask me about this.
48:42
[SPEAKER_01]: Yeah, we talked a lot about real estate, but I wanna talk about the digital, real estate, like the digital game.
48:49
[SPEAKER_01]: Okay, okay.
48:49
[SPEAKER_01]: Everyone, and I don't care what industry you in, you should have some type of digital product.
48:55
[SPEAKER_01]: You should be running ads.
48:57
[SPEAKER_01]: I'll give you a play.
48:58
[SPEAKER_01]: So, you need to go create some type of funnel of digital product, whether it's a ebook, a digital course, something within your niche, run ass around.
49:11
[SPEAKER_01]: Let me start over.
49:12
[SPEAKER_01]: I've been talking out there in 1988.
49:14
[SPEAKER_01]: Nothing.
49:14
[SPEAKER_01]: Okay.
49:16
[SPEAKER_01]: ready?
49:16
[SPEAKER_02]: Yep.
49:17
[SPEAKER_02]: You want answer the question again?
49:18
[SPEAKER_02]: Okay.
49:19
[SPEAKER_02]: So, so is there like a question that you're like your ash?
49:25
[SPEAKER_02]: You know, I wish you to ask me this.
49:27
[SPEAKER_02]: I want your insight as to know this.
49:30
[SPEAKER_01]: I know we talked a lot about real estate, but we didn't talk about digital, real estate, like the digital game.
49:36
[SPEAKER_01]: Yeah, yeah, yeah.
49:36
[SPEAKER_01]: Everyone should have some type of digital products.
49:40
[SPEAKER_01]: Good.
49:40
[SPEAKER_01]: Running ads, you should have a digital course, some e-books, something, because most people are on digital products are making at least $1,000 a day.
49:51
[SPEAKER_01]: or even more, and that's just I've running ads, having a funnel, and a digital product.
49:57
[SPEAKER_02]: Yeah.
49:58
[SPEAKER_02]: So give me the play, right?
50:00
[SPEAKER_02]: So just for those who don't understand what you're saying, right?
50:02
[SPEAKER_02]: So like, let's just say, for instance, like, I, you know, I help people, you know, write books that can make them six figures, right?
50:13
[SPEAKER_02]: Are you saying, I write an ebook about this?
50:16
[SPEAKER_02]: Mm-hmm.
50:17
[SPEAKER_02]: And if I, I'll run ads to that ebook,
50:21
[SPEAKER_02]: $1,000 a day.
50:22
[SPEAKER_02]: Yes, something someone need.
50:23
[SPEAKER_01]: Yeah, like you said an ebook or a book.
50:24
[SPEAKER_01]: Yeah, something you already know right a book or an ebook on that given them step by step, because you want to make sure that they get a return on that this man, they purchased this digital product from you, but they're able to make money out of it.
50:31
[SPEAKER_01]: Yeah.
50:31
[SPEAKER_01]: And so if you sell that product, if you want to make money out of it, and so if you sell that product, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to make money out of it, if you want to
50:44
[SPEAKER_01]: 30 people buy it a day and it's $30.
50:48
[SPEAKER_01]: How much did you just make?
50:50
[SPEAKER_01]: Right, right, like $9,000, I can tell you, yeah.
50:53
[SPEAKER_01]: I mean, it's digital money.
50:54
[SPEAKER_01]: And you don't have to do anything if you have the systems in place.
50:58
[SPEAKER_00]: Yeah, yeah, yeah, yeah.
50:59
[SPEAKER_01]: You know, you have your funnel set up.
51:01
[SPEAKER_00]: Yeah.
51:01
[SPEAKER_01]: Everything is being automatically delivered from the time that they purchased to the time of the liberal.
51:07
[SPEAKER_02]: Are you teaching some of the three days?
51:09
[SPEAKER_02]: I am going to teach it on the three days.
51:10
[SPEAKER_02]: And you know, you know, and I'm glad that you,
51:15
[SPEAKER_02]: NAS, I think about it, right?
51:16
[SPEAKER_02]: Like you said, we talked about real estate a lot, but real estate is finite, right?
51:23
[SPEAKER_02]: So like if you make 300,000, and you take that 300,000, and let's just say you buy a two family home with that 300,000, you can only make money off of the two homes.
51:37
[SPEAKER_01]: Right.
51:38
[SPEAKER_02]: That's it.
51:39
[SPEAKER_02]: Like there's no way you could dice up and splice up.
51:43
[SPEAKER_02]: that home.
51:45
[SPEAKER_02]: Right, so that 300,000 is only going to make you that amount of money.
51:48
[SPEAKER_00]: Right.
51:48
[SPEAKER_02]: But when you think about digital real estate, like an ebook, well, ebook is digital.
51:54
[SPEAKER_02]: So there's millions of versions of that digital asset.
51:59
[SPEAKER_02]: And so with the right ad strategy.
52:02
[SPEAKER_02]: Yes.
52:02
[SPEAKER_01]: Hmm, definitely you want to tap and say ask because it needs to go past your page and people that see you all the time.
52:10
[SPEAKER_02]: What would you say is that, you know, I look, I know you're going to have to join the guy I want to give up all the sauce.
52:16
[SPEAKER_02]: But what would you say is that the average amount that they need to be, you know, investing in ads in order.
52:22
[SPEAKER_02]: Let's say let's say that's my goal.
52:23
[SPEAKER_02]: Let's just say.
52:26
[SPEAKER_02]: You know what, I want to make an extra $30,000 a month and I want to get $1,000 a day, right?
52:35
[SPEAKER_02]: How much an ad should I be spending in order to get there?
52:39
[SPEAKER_01]: I would say, for me, $102,000 a day.
52:43
[SPEAKER_01]: The more money you spend on ads, the more money you're gonna make.
52:46
[SPEAKER_01]: So I've never not doubled my, our triple my investment into ads.
52:53
[SPEAKER_01]: So if you're looking to store digital products, I would say start with at least $100 a day and have multiple ads.
53:00
[SPEAKER_01]: No, just run one.
53:01
[SPEAKER_01]: You need to cause some people made like the one that you didn't even think, no one would like over the one that you took your time and effort on.
53:09
[SPEAKER_01]: So I would say start with like six ad copies and spend $100 a day on ads and you'll see a huge difference in your sales.
53:18
[SPEAKER_02]: You know, you're up at a tap in because now if I do the math, $100 a day is just $3,000 a month.
53:26
[SPEAKER_02]: It's tax season, y'all.
53:27
[SPEAKER_02]: I'm not telling y'all what to do, but imagine taking $3,000, this one time.
53:33
[SPEAKER_02]: And then now, if she's saying you could double or triple that money, imagine taking a $3,000, and that makes $9,000.
53:42
[SPEAKER_02]: And the truth is, you could take that $6,000, rinse and repeat put that $3,000 back in and just keep kind of doing that.
53:50
[SPEAKER_02]: Or if you're smart,
53:53
[SPEAKER_02]: What I would do is I'll take the nine and I'll double down so I can get to whatever my Goal is as an income.
54:02
[SPEAKER_02]: Yes, oh, I like that.
54:04
[SPEAKER_01]: All right, look, maybe I wanted to add something.
54:06
[SPEAKER_01]: Yeah, yeah I made a digital course in my living room with my phone in my tripod A digital course is calling people probably see it all the time it's funding to fortune
54:18
[SPEAKER_01]: Dad, of course, that I made in my liberal room has made me about $200,000.
54:23
[SPEAKER_01]: $200,000, but I spent a great amount on A, but I didn't do anything.
54:31
[SPEAKER_01]: And I made, I didn't put money into it.
54:33
[SPEAKER_01]: I was like, OK, let me just do this myself.
54:35
[SPEAKER_01]: And I'm going to break down in my three-day mentorship exactly what systems I use.
54:42
[SPEAKER_01]: everything that I did and how to make those videos and create the full course in the comfort of your own home, so I make it money.
54:51
[SPEAKER_02]: So again, if people want to connect because you use you to a lot, right?
54:55
[SPEAKER_02]: If you want to connect with you, they want to join the, you know, the streams of million week and they find you.
55:00
[SPEAKER_01]: I'm on our platforms, Dr. Rosie Thomas, and you can register the link is in my bio, streamsomillions.com.
55:08
[SPEAKER_01]: And if they come from ash, podcast, I got some special for her.
55:11
[SPEAKER_01]: All right, look, make sure you're a DM, right?
55:14
[SPEAKER_02]: In the DM, say, you are an insider.
55:17
[SPEAKER_02]: I just saw your insider, the vote with ash, cash, and she got something special.
55:21
[SPEAKER_02]: You know we take care of people.
55:22
[SPEAKER_02]: Dr Rose, we appreciate you.
55:24
[SPEAKER_02]: Thank you so much for being here.
55:27
[SPEAKER_02]: We are closing out the vault.
55:28
[SPEAKER_02]: Another awesome episode of Inside the Vault with Ashcast.
55:31
[SPEAKER_02]: The greatest money mindset show on the planet.
55:34
[SPEAKER_02]: Make sure you visit us inside the vaultshow.com.
55:37
[SPEAKER_02]: Follow us on all social media platforms at
55:40
[SPEAKER_02]: inside the vault.
55:41
[SPEAKER_02]: Me, I am Ashcast, make sure you visit me.
55:43
[SPEAKER_02]: I am Ashcast.com.
55:44
[SPEAKER_02]: Follow me on all social media platforms, act.
55:47
[SPEAKER_02]: I am Ashcast.
55:48
[SPEAKER_02]: We will see you.
55:49
[SPEAKER_02]: Oh, man, if I join the abundance community, go to theabundancecommunity.com.
55:53
[SPEAKER_02]: We will see you next time.
55:55
[SPEAKER_02]: Same time.
55:55
[SPEAKER_02]: Same place.
55:57
[SPEAKER_02]: God's well.
55:58
[SPEAKER_02]: Peace!