1043: On a Mission to Empower Communities and Close the Poverty Gap with Author and Speaker Angela Duncan

Unknown Speaker 0:00 Welcome back, it's the market or do the podcast and Angela Duncan is here. Now Angela is from empower her money.com. Angela was raised in Section Eight housing, welfare and she worked at a young age. And she has personal finance expertise. And she inspires hope through financial literacy. And she's worked in banking, financial advising and owning a top 10 REMAX office with over $2 billion in sales. But now that we've caught up to the present, she is closing the poverty gap by empowering others to change their financial future. Angela is the host of empower her money podcast, which is the top 5% podcast globally. And she believes no matter where one starts in life, they have the power to shape their own destiny. So Angela, glad to be speaking with you. Yes, thank you so much for having me today. Glad to have you. And so we gave a little bit about your bio, but what just has you fired up lately? What's your passion? What's your focus? What is happening in the now? Yeah, so I always thought that I wanted to teach people about money and about investing. And what I learned is, we all have a story, we all have learned something about money that we can share with other people, no matter how big or small that idea, or that thought that you had, there's someone else who needs that information in this moment. And so having a pod class platform, like you know, is the way that you can share everybody's message to a good group of people, because it is a free platform. So now we're making financial literacy accessible to those that don't have money so that they can take the time to listen and and learn from other people. And that is huge. And like you said, there's so much just attached to money, right? There's the fear, it seems to be its own kind of organism. And yet, you can't really like like, see it or touch it like you couldn't touch bills. But as far as just the whole, the whole mess of like your bank account and your debt and your assets and the interest in your habit. It's all kind of intangible. And it seems like you never know, whose advice or which angle or perspective we'll break through for you. Right? Breaking through the fear of money or being smarter with your money strategy. But and there's so much to to navigate. And so in order to attack this problem, where do you think people are stuck with money these days? Do they not budget or track? Do they make dumb decisions? Just what's the the starting off point? The jumping off point? Yeah, first, let's talk about your childhood. Because your brain has been formed by seven. And that's where your initial money beliefs come from? Is that like, subconscious part of your brain? So what did your parents teach you? And how are you repeating that pattern today in your life? And sometimes when you really think back, that's where that like, Aha moment comes from, like, Oh, my parents taught me that I didn't need this. And so today in life, I don't need money, because I was taught that as a young age. And the way that we kind of transform that mindset is we change the way you think about money. Money is just a tool, like this pen that I'm in my hand right now, right? I use this tool to write money is a tool that you use to exchange for something else. That's all it is. So take the emotion part of that out. And just think of it as a tool that you're going to use as part of your toolbox in everyday life. And it's going to help you accomplish goals. So how do we use money to accomplish your goals? It's going to be different for each person. But thinking about what are your goals? What does that feel like when you accomplish those goals? And then thinking how do I need to use this tool money to get to those goals and accomplish them?

Unknown Speaker 3:43 Wonderful. So you're saying we need to go back to childhood, take that inventory, figure out where we got these initial limiting beliefs. And that way we can proceed without fear. And we can use money instead of money using us to get to where we want to go. And as far as you personally, what was this journey for you like and kind of uncovering the emotion attached and how to kind of maybe not get rid of the emotions, but maybe just like decouple the emotions for money. That way you could look at it objectively what was like that like for you? Yeah, so this is a shorter podcast. We don't have hours to unpack all of that. But my short version is I grew up in poverty. I didn't have anybody around me to teach me about money. And when I say poverty, Section Eight housing, welfare living in other people's couches, I mean, like true poverty right here in the US. And so I've always been fascinated by numbers. And I knew by watching TV or being at school, I thought this thing that people call money is helping people to have a different lifestyle and to have some freedoms that I don't have because we don't have money. So I've studied it for 25 plus years. And what seems like common sense to me I learned is not common sense for other people, but it's because I enjoy learning about money.

Unknown Speaker 5:00 And now I want to take all of this information and help other people in a very simple way to learn about money to teach them simple action items that they can implement in their life today without worrying about, you know, a book that requires a dictionary just to get through those financial terms. Let's keep it simple, the more we can simple, fie learning about money, the more people will do it, and then you just change generations of people in front of you by changing one life. Wonderful. And I like what you said a few things in there about as far as getting to financial literacy, like find a way to be interested in fascinated and excited about numbers and about money. And to me, it seems like it gets back to that idea that you said about the story that you're telling yourself if someone says, Oh, I'm not a numbers person, I don't know about money. Well, do you get excited playing the video game and getting the high score, and you think about how the game Monopoly, I think they started it during the Depression, when everyone just had no jobs, nothing to do. And they're like, Hey, let's play this board game. And we can kind of run through these different scenarios. And it can be exciting to grow this pile of stuff and do things with it and buy properties. And then you know, sell properties and trade and do kind of make these these strategies and make these sorts of moves. And so you're seeing here that in order to get there, we need to make it simple. So is there like a simple concept that is maybe not all of it, but just like a first step towards this financial freedom path? Yeah, you got to start with what are your own numbers. And a good challenge I give to your audience is to print out three months of statements, credit card statements and bank statements and read it. How much money are you spending on each of those categories? How much money are you actually taking home at the end of the day? And I think when people really start to look at what their expenses are, they can realize what they can cut out. And so when you know your numbers first, that's how you build your foundation. Where am I today, if you if you pick up your phone, and you put in an address with Google Maps, right, it can't tell you how to get to that destination without knowing where you are today. So let's start with today. Where are you today, and it really doesn't matter and give yourself some grace. If you're in debt, it's okay. You know, just figure out what your starting point is today. And then let's figure out what goals that you want to have short, mid long term. And I like to tie emotions to it. So you know, say, for example, you want to buy a house? Or what does that feel like? Who's in your life in that moment, and when you tie that emotion in the heart, with the brain with a goal, you're so much more likely to accomplish that goal. But it really does start with where are you today? I like that process. And they don't teach this in school, of course, right? Just this simple idea of you print out the statement. So you can look at it and look at what's going in what's coming out. And then what are the categories that way you can sort things and maybe improve that equation a little bit right and increase where you want to increase. And then I also like how you said, well, bringing the emotion back in, but connect the emotion to the future and not about the regret of the past or the pain of the present. And oh, I made all these mistakes I would have should have could have had done that you say hey, instead, do you want to be a homeowner? Do you want to live in this place? You want to have this this better lifestyle? And then well? How excited will you be for that? And that way you have that goal. And now you're tapping into in all these people that have the things like the the vision boards, or you have the the dollar bill behind you, and then the coins and things like that. And you have like these kind of visual reminders and the goal and the excitement about what is to come. And so you have this, this M power hermits podcast and you teach these things like women's empowerment. And that has me really curious because as a man, I know not to speak to this at all, to not have any opinions. But it's also good to kind of hear about other people's experiences and stories. So is there really anything just like really messed up still, in this modern day and age? Are things really messed up? When it comes to women? Like you hear about like, the pink tax and the shampoos tinier, and they get paid less at work, but just what is your opinion about the current states of women and money in the present? I think a lot of that it's a limiting belief. I mean, yes, it's only been about 50 years that a woman could have a credit card on her own or get a loan for a house that happened in the 70s. So it wasn't that long ago that we weren't able to even have credit by ourselves. But when we talk about things like I don't make as much as my male counterpart, well, it's because the man is more willing to ask for the raise, even if he doesn't believe he has earned it or deserves it yet, because he feels he's gonna get there. Whereas a woman thinks I have to earn it first and then ask for a raise and then I'm not gonna even ask for my full potential because I'm just scared too. So you know, a lot of times that that gap and that income falls upon us to so look in the mirror, figuring out how do I invest in myself, how do I get a better education come up with great ideas that my employer is going to see that I have

Unknown Speaker 10:00 value, and then ask for more. Because what are they going to say? No, you're not worth that. They're never gonna say that to your face, right? So if you ask for more the chances are, you're more likely to get it than if you never asked at all. So the income gap has come a long ways, but we do still have some ways to go. But I think a lot of times it falls on the woman, she's just not asking for that raise. And so take a look in the mirror and take the responsibility and prove yourself. And if they can't see that, now you go somewhere else. I love it. We can all benefit from these different ways of thinking of saying, Well, if I feel like I deserve more, well, that's great. You have a feeling but what can you prove what's concrete? What kind of education certification? What can you demonstrate in order to get more of what you want? And it's just, it's helpful in general, just to say, well, I know that I may be stuck in this way of thinking, but I can also we try these other ways of going about it. And maybe that will get me to what I want. And so as far as the podcast goes, you know, people are watching and listening to a podcast. And what's even better is to go and check out another podcast, because someone is already here proving that they're a podcast listener. So to get people amped up about you and your podcast, what do you talk about? What kind of guests have you had? What has surprised you in your podcasting journey? Yeah, so I interviewed women, mostly, I have had two males that have interviewed Tim story, and John Lee Dumas, with entrepreneurs on fire. But what I find is, you know, we, each of us have a unique story. And I want to share that story. And I want that person to share their own experience about money and about business and give tips that they've learned so that someone that's listening can go ahead and implement that into their lives. And the reason why I focus on women, obviously, I'm a woman. And I know, the way that I receive information is definitely a heart centered. And so when I have women who talk about their past and what they're doing today, it's very emotional, we are very emotionally tied to investing to money to, you know, being parents and children, in our businesses. And so when you can relate to someone that you're listening to, you're more likely to implement what they're teaching when you can relate to them personally. And so that's just that's my focus. I'm a woman. So I feel like I have a better understanding about what women want and how we react to things. So having a platform where women teach women, I think just empowers us and empowers everybody. I mean, men listen to it as well. And they can take away you know, feedback and action items as well. But that's, that's my focus. Oh, great. And I think about that a lot. But it hurts my brain, like the difference between men and women, right? Men are just like, here it is. Here's the facts go do this. And some women need a little more finesse, a little nuance, right? They need like, Okay, here's, here's my story, here's how I relate to you. Let's go on a journey together. And then maybe you can pick up a few things after you feel emotionally, like settled in and like we're, we're having a nice kind of two way conversation. And so that's wonderful to think about. And since I'm just a man, and I'm like, facts, facts, subject subject, I kind of want to make you think with this, that's what a man is. He's logical. And he wants that that factual information. And that's why it's such a different way of thinking and teaching and receiving the information as well. And that's okay. And I try every day to have some self awareness about that, to know that, okay, not everyone thinks in this way. But also, I know what what my strengths are and how I want to learn. And sometimes I'm just like, the short micro factors and talking points. And so as far as you and the real estate, what's that about? Like? What has your journey been like there? What have you built in accomplished? Yeah, so for me, real estate is tangible. It's something that I can go look at. I don't understand crypto, I don't invest in it. If I don't understand something, I'm not going to invest in it. I don't understand art, I don't know much about wine or cars. So none of that, to me, is something that I invest in, but a house people need to live somewhere, right. And we only have so much land available. So there's only so much land opportunities to build a house for me. Because I've studied numbers for so long. And I am fascinated by numbers. Real Estate makes sense to my brain, you know, you buy it for a certain amount, you rent it for a certain amount, then you know what your profit is going to be. It's math, it's not emotional. And so that's kind of me stepping into my masculinity, right? Because it's more of a logical play than an emotional play. And I love the apartment investing because I'm hiring someone to manage it for me. Whereas before when I had single family properties, you know, if a family fell on hard times, or you know, medical bills came up, or Christmas came up, and they came to me, they're like, Oh, I'm so sorry. I had to feed my family. I can't pay rent on time, will emotionally I get attached to that and I'm like, Oh, that's okay. But for me, it's not okay because I still have my bills to pay. I still have my family to support so I had to take that emotional piece out of it. And that's why apartment complexes and storage units so

Unknown Speaker 15:00 is a great opportunity for me to invest because there's no more emotional play because someone else is managing it. Wonderful and I know that your Grant Cardone student he's all about that right having the multiple doors, but then I think it seems a little scary as far as that that first step right when you say Oh, I have to buy a whole apartment building like what will the maintenance costs be and what will the huge downpayment be at ALMA hook for all this money? So what would you say to someone who has maybe heard about the the Grant Cardone stuff or your advice? And they say, man, a whole apartment building? Like, that's really scary? What's the the way through? Yeah, so first off, it's more scary to me to have a single family house because if they move out, I have 100% of $0 versus and 100 unit apartment complex. So first kind of shifting your mind on that, too, is you have to have a mentor, you've got to find a coach that's going to teach you about it until you truly know what you're investing don't don't invest in multifamily, unless you have the money. And know you can put it away for a long time and to really know and trust the person you're investing with, because you could lose every penny. And that has happened to me, I've had a couple investments where it didn't go great. And I didn't do enough research early on to determine what I wanted to invest in, and I lost that money. So it's never coming back. Right. But the coach and the mentors key, you have to really truly know who you're learning from make sure that they're an expert. Yes, I'm part of grant cardones mentorship, it's got $4 billion in real estate, I think he kind of knows a little bit more about me. And so I'm not you know, I don't have a big ego, I know that I can find a coach and I know I can find someone who's an expert and learn from them. Because I don't know everything. And I'm always a student, I never stop learning. And I think that's also key is just finding an investment class, whatever that looks like to you. Learn about it, find a mentor, and then make sure that you have enough money set aside for your necessities that you can potentially lose this investment, and then start from there. And that seems to tie back to having that healthy relationship with money, right of that. There's like the, the scarcity mindset and the abundance mindset, right? Scarcity Mindset is like I have to hang on to every penny and abundance mindset says, Well, money might come and go, but cash flow is more important. And if I make a bad choice, or go down a bad path, and the money's gone, then you you figure it out again, and you make more money, and it doesn't have to just completely end you. And so this is all wonderful to think about. And you know, there's also a phrase I heard the other day, which was something like contextual confidence, right? If someone says, I'm not confident about that, then someone might you might say, Well, are you confident about other things? Or, or if you're not confident, maybe that is exactly the reason why you need to approach a coach. And when they give you advice, because they know more than you don't necessarily try to shortcut or fight them just like go with that advice and make the strategic moves. And like you said, also, if someone says I'm afraid about going this path in real estate, you say, Well, hey, well, you thought there was the safer path might be kind of a bad road to go down. And since we're on a podcast, and stories are fun, and stories about things crashing and burning are fun. I know you mentioned a little tidbit about the lost money. But is there anything that you feel like sharing with us? That's like a story of a past failure where you overcame? And you can get stressed out a little bit by listening to it, but it's okay, because it all worked out. So what comes to mind as far as a scary failure story? Yeah, so I got my real estate license in 2007. And if anyone knows the US housing market that was right before the downturn, everyone's like, Oh, real estate's great, get your license, you know, you're gonna make tons of money, and then the economy crashes, right. So as a brand new real estate agent, I didn't know what to do, you really have to shift your mindset with that as well. Because now I really need to be a student about real estate, I've got to find a niche area that I'm going to learn and become the expert in experts are where you make the money, right. So find something that means something to you, and figure out how to become the student, your expertise. And then you know, if you need certifications, whatever you need to become an expert. That's what I had to do first. And then I learned short sales, I learned how to work with banks to do bank owned properties, because that was, you know, the client that needed the most help at that time. But I really had to become a student first. So my failure was entering the market at the wrong time. But I use that as a strength because as agents were getting out of the market, I just doubled down on my education, and then really put that into place so that I can help clients that are still existing in this market. And then as soon as it kind of shifts to a different side. I learn more about that. And then I shift my expertise. So it's it's kind of like you know, you got to know your market. And it doesn't have to be about money. No, maybe you love to fix cars, and that's your expertise. Well, you make money from it, you invest so that you don't have to do it forever. And then you teach others

Unknown Speaker 20:00 People How to fix cars and they put money away. And it just like that that transformation that change. So figure out what you love to do learn about it being an expert. And if it isn't investing great, if not hire someone that's an expert to do it for you. I love that that's a wonderful and helpful path. But in order to get on that process from being like the the worker and the investor and the teacher, we need to learn and we need to go back to school in a way, right, take these different classes. And that's the that's probably the cruel, sad irony of life and adulting is that we were kids, we thought, I can't wait to get out of school and be done. Well, guess what, since the internet's happened, and life moves so fast, we have to learn more now than ever, and be open to these new ideas. And even some of these techniques that we learn in the short term, like like the short sales that but then something else might be huge with real estate. And we might learn to have to learn like the landlording, or the apartment complexes or something else. So not only do we need to learn, but also we need to stay up to date and learn new things and be grateful for the new challenges that are ahead of us and so much more. So as far as the future as far as those things to look forward to coming up what is in store for Miss Angela Duncan. Yeah, so empower her money podcast that would love to be able to reach more people. And as far as investing, I'm in the commercial real estate space. So the next may be 18 months with interest rates. And, you know, the election coming up is gonna be a very interesting year. So I'm paying close attention to that I'm conservative. So I'm kind of sitting on the sideline right now, if a great opportunity comes up. I'm all about it, because I've educated myself, but I'm not going to take big risks right now. Because the markets a little uncertain, and I don't like to invest in certainty. Okay, but when the timing is right, when there's an opportunity, you're right there, and you're in North Florida, correct. I'm In Miami, South Florida. Oh, nice. Okay. And so as far as if someone is in that Miami area, and they want to contact you for some kind of like real estate reason, like what is your your flavor? Or what would interest you about that exact right type of person communicating with you? What kind of person is your people? Well, if they want to reach out to me that have questions, I'm always open on Instagram and power her money if they're looking at actual real estate investing. For me right now, I'm not investing in South Florida, the prices just don't make sense. So outside of there, I'm still looking at storage units. And I'm also doing some flip properties, hard money loan, meaning people who have opportunities, but don't have cash available. So those are the type of opportunities that I personally am currently looking for. But I'm always open to real estate questions. And I'm happy to just jump on a quick call with someone and help them along the way. Fantastic. And what is the call to action to do that? Where's your website? And what are your contact details? Yeah, so website, tic tock Instagram and podcasts, empower her money, best place to find me. Fantastic. Empower her money on all those social platforms. And as we're wrapping up weighing down our conversation here, Angela, it's always fun to put my guests on the spot and ask for a quote or lesson that they really liked. That could really help us what comes to mind as far as a fun quote or lesson. Yeah, so um, there's a book called The Travelers gift. And there's a section about be happy. So I, you know, really challenge you to change your mindset and be a positive person and learn how to be happy because that's how we share information with the world. Fantastic, be happy happiness is a choice, but it may might take some work might take some muscle to tap into that positivity, but find a way and a good starting point for that sort of thing is by going to empower her money.com and not orbit and whatever your social media platform of choices, Tik Tok, Instagram, whatever, go to empower her money, and like and subscribe and comment and all those other things interact. That way you train the algorithm on whichever social platform to show more of Miss Angela Duncan and PowerPro monies content and that way you can just be tapped in to your own wealth creation and your learning and positivity and gratitude and everything that comes with that. So that way, you're not at the mercy of this thing called money that way you can have money that way you can make choices now possibilities. So Angela Duncan from empower her money.com Fabulous speaking with you. Thank you