The Wilson Wealth Show

In this week's episode Ablavi and Ciera discuss relationships and success.  How do you divide the household duties when both spouses are building successful careers?  What about the kids' needs?  And where do gender roles come into play?

Ablavi and Ciera have the answers.

People post their highlight reel on social media.  - Ablavi

I like to call marriage a beautiful challenge. - Ablavi

It's all about challenging each other to be better.  - Ciera

 

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On this episode of The Wilson Wealth Show, Ablavi and Ciera continue this month's theme "Women and Money" with a conversation about he challenged women face in business.

Some highlights:

Are you doing what you are supposed to be doing?  Are you fulfilling your purpose? - Ablavi

Our first step is to figure out what bring us fulfillment. - Ablavi

I started over several times.  I was doing things my parents wanted.  I had to push back thoughts about being further ahead.  It’s all BS.  You have plenty of time to figure out what you want to do in life. - Ciera

Felt pressure to be as successful as my mother.  Ciera

You have to get used to people hating you.   Ciera’s Mom

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On this week's episode, Ablavi and Ciera discuss the financial impact of maternity.

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Facebook: WilsonWealthFBPage

Instagram: Wilson Wealth Mgmt Group (@wilsonwealth) • Instagram photos and videos

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

In today's podcast, The Wilson Wealth Show navigates a conversation about the trend of women choosing to have children later in life and why that is. Ciera and Ablavi talk about their own experiences with the phenomenon and why they think it's ultimately a good idea in today's economic climate.  They also discuss the financial and life impact of having a child and why planning is so important. Find out more about budgeting, planning, stigma, and everything that goes with having a child as an older woman in "Should I Wait to Have A Child" on the Wilson Wealth Show.

“You need to plan for a baby in the same way you’d plan for any big purchase in your life like college or purchasing a home.”

“If you want children, don’t put it on the back burner because it won't just fall into place, it takes a lot of planning and sometimes scientific help if you’re an older woman.”

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

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Instagram: https://www.instagram.com/wilsonwealth

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

 

 

In this week's episode of The Wilson Wealth Show, Maurice highlights the value of historically black colleges and universities.  With the election of Vice President Kamala Harris as a Howard University graduate, which is the nation's premier HBCU; this has opened a conversation about how HBCU's are often underappreciated and undervalued.  According to our research, HBCU's often are the best values in price, networking, and obviously opportunity as Kamala Harris has proved by being both the first black and female Vice President.

Is there something we are missing out on by not sending our children to HBCUs? Is there still a stigma about HBCUs that is preventing us from getting the best value out of the most expensive part of parenthood? 

Find out more about this interesting take and more with Maurice in our final February episode on the Wilson Wealth Show. 

Quotes:

“If you’re in the black community or if you’re in a historically underserved or underrepresented community, you know the significance when someone from your community achieves something that is unprecedented.  It expands the horizon of what can be accomplished by you and your community.”

– Maurice L. Wilson

 

“One of the perceived cons of going to a black college is that after graduation you couldn’t compete in a wide-open workforce and integrated economy and Kamala not only broke those barriers but gave hope to future HBCU students.”

– Maurice L. Wilson

 

“Everybody loves a college student; nobody loves an unemployed college graduate.”  – Maurice L. Wilson

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Facebook: WilsonWealthFBPage

Instagram: Wilson Wealth Mgmt Group (@wilsonwealth) • Instagram photos and videos

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

Show Notes: Dating & Money Part 2:

This week's Podcast showcases the exciting conclusion to Dating and money in our final installment of this month's series “What's Love Got to Do with It?”.

Things heat up with more hard-hitting questions about how our finances fit into our dating lives.

Our panelists discuss questions that most would consider sensitive subjects in dating such as “At what point in dating do you ask how much someone has in savings, investments, a trust account or if they will be coming into a significant amount of money from an insurance policy or will?” or “What’s most important when dating as it pertains to money: career, credit, salary or savings?”. These different generations all have different points of view on these more difficult questions and many other subjects such as prenups, children, flashing cash and even religious perspectives in relationships.

 

Quotes:

“My biggest question is can we grow together? Are we on the same page? Those are the things I think are the most important when dealing with finances in relationships”. -Cassandra

 

“There's a difference between protecting your assets and stealing; if we are really struggling and you're sitting on a million plus, that’s stealing, but if we are crushing it and you're sitting on that million plus, that’s protecting your assets.” - Maurice

 

“What's most important to me is a person's stewardship of their money. Managing your money is so much more important than how much you're making”. -Greg

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Facebook: WilsonWealthFBPage

Instagram: Wilson Wealth Mgmt Group (@wilsonwealth) • Instagram photos and videos

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

Show Notes: Money and Dating Part 1

In this week's podcast, we explore the world of money and dating in three big categories:

• millennial and unmarried with guests Ciera and Connor
• late thirties and dating with guests Greg and Toccara;
• and lastly, for our 40+ group and divorced, we have our guest Cassandra.

We asked all our guests a series of questions based on an old client of Maurice’s dating philosophy where he only dated within his credit score to protect himself. This begged the question; "At what point of dating do we ask our significant other their credit score?"

 

What about how much they make?

 

Find out how these different generations tackled the hard questions with their unique perspectives in our first installment of this month's series "What's Love Got To Do With It?".

 

Notable Quotes

    " From the perspective of someone in their 20's, everyone is still figuring things out.  You could meet someone who has no idea what credit is at the same age as someone with fantastic credit, so it can be hard to navigate" - Ciera

 

    "I'm more interested in a person's spending habits rather than their credit, that tells much more about a person than a credit score"- Greg

 

    "I know doctors and Lawyers whose lifestyles don't reflect their salaries, so as long as you're living a comfortable life within your means, I don't care whether you make 30 or 60 grand"- Greg

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Facebook: WilsonWealthFBPage

Instagram:  Wilson Wealth Mgmt Group (@wilsonwealth) • Instagram photos and videos

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

 

In this episode Maurice and Ciera sit down with special guest, Bryan Woodward to discuss the GameStop incident.

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Instagram: Wilson Wealth Mgmt Group (@wilsonwealth) • Instagram photos and videos

Facebook: Wilson Wealth | Facebook

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

Summary:

On this episode of The Wilson Wealth Show, Maurice, Ciera, and Ablavi discuss what it means to be trapped by success; how it happens and how you can escape, sharing real life examples and solutions.  Ciera explains that it is possible to reach financial milestones and still find yourself unfulfilled by the job, the house, the family trips and all the other things that come with success.  She says when this happens, you can begin to feel trapped. This episode focuses on strategies for how you can do what you love and get paid for it.

 

Maurice begins by diving into what causes someone to get trapped. He explains that if you have not established healthy financial milestones throughout your life you may not be equipped to pivot or take a risk when you find yourself in a career you don’t enjoy.  Parental pressure can also be a factor. It’s not unusual for parents to set the focus of a child on the wrong thing and that pressure to make ends meet can easily point them in the wrong direction. The parents might satisfied but in 20 years the child is trapped causing the cycle to repeat generationally.

 

If the goal is to make a living doing what you love than the key to escaping the trap of success is to keep focused on that goal. Maurice has years of experiencing helping clients reach that goal and suggests setting a 5-year window. Take five years to pursue a new direction whole heartedly by making sacrifices and adjusting your retirement timeline accordingly.  After the five years is up assess whether you have attained your goal or return to your original plan having borrowed the five years from your retirement. As Ablavi points out, escaping the trap is rewarding but requires mental fortitude to step into the unknown. 

 

Ciera summarizes by suggesting 3 key takeaways. First, determine if you are trapped by success. Take a long look at your life and what you’re doing and decide if you are happy and proud of what you’re doing. Second, if you discover that you’re not it may be time to look into other options so you can have that fulfillment and escape the trap of success. Finally, and most importantly, create a strategy to get paid doing what you love. Wilson Wealth is experienced and equipped to help with that.  Visit wilsonwealth.com and check out the trapped by success infographic that describes Maurice’s escape plan in greater detail.

 

We hope that you found this episode helpful and we look forward to you joining us again next time!

 

 

Key Quotes:

 “When you are trapped by success you have one of two options. You can remain trapped or you can figure out a strategy to attain the fulfillment you desire.” (Ablavi)

 

“If you’re not making any money as an adult doing what you love you’ve got to figure out a way to pay the bills until what you love starts paying you.”  (Ablavi)

 

 “Vilification of money has been used as a coping mechanism for people to make excuses for not living up to their potential.” (Maurice)

 

“ You have good intentions but at the end of the day you cannot force yourself to be a different person. You are who you are.”  (Ciera)

 

“The escape is actually quite simple, just like the goal of making a living doing what you love.” (Maurice)

 

What We Covered:

1:05 – What does it mean to be trapped by success

5:50 – What causes someone to get trapped

11:49 – Impact of parental pressure

23:55 – The goal: make a living doing what you love

24:22 – How to escape the trap and reach your goal

27:35 – 3 Key Takeaways

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Facebook: WilsonWealthFBPage

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson

 

Summary:

On this episode of The Wilson Wealth Show, Maurice, Ciera, and Ablavi discuss the importance of buying life and disability insurance at a young age and talk with special guest Nykea Gray about building credit early. Maurice explains that credit provides you with the ability to buy big ticket assets before you actually have the cash to pay for them and insurance protects your family and your income while you are building wealth. He uses the analogy of guaranteed versus non-guaranteed contracts to describe what it is like to be living with and without life and disability insurance.

 

Ablavi goes on to explain that while it is simple to say that you should buy insurance and build credit early, it is more difficult for individuals and families when economic conditions cause financial strain. She says that she is aware of many families who are having to prioritize day-to-day costs and needs over wealth-building ones due to the pandemic and underemployment. While this is a very real factor, Maurice points out that the less you spend on things like insurance and building credit, the longer it takes to build wealth.

 

Nykea Gray is a credit card and fraud expert who joins us today to share her insights on credit and provide a good tip on setting your kids up for success. While individuals must be 18 years old to qualify for their own credit cards, they are eligible at the age of 12 to be made an authorized user on their parents’ credit cards. Authorized users receive the benefits and drawbacks of the credit history on that particular card, so be sure that the card you choose to add them on has a strong payment history and a low utilization percentage, but this is the best way to establish good credit for them before they are able to do so for themselves. The door swings the other way as well, however, so be careful not to allow that particular credit card to get behind on payments or get too close to maximum utilization.

 

We hope that you found this episode helpful and we look forward to you joining us again next time!

 

Key Quotes:

“These are critical tools that should be addressed at the beginning of our wealth-building journey.” (Maurice)

 

“In the game of life, we all have non-guaranteed contracts when it comes to how long we have to build wealth.” (Maurice)

 

“It is important to know the factors that are included in wealth-building.” (Nykea)

 

“Knowing how to manage and maintain credit at an early age is going to set you up for success.” (Nykea)

 

 

What We Covered:

0:56 – Credit and insurance as wealth-building tools

1:52 – How credit and insurance help you build wealth

4:32 – The less you spend, the longer it will take you to build wealth

6:53 – Our guest, Nykea Gray, shares about how to build credit early

14:56 – Making material cost cuts rather than transactional ones

16:30 – The negatives of adding your teenagers as authorized users on your credit card

 

 

Connect with the Wilson Wealth Show Team:

Website: https://www.wilsonwealth.com/

Facebook: WilsonWealthFBPage

Maurice @ LinkedIn: https://www.linkedin.com/in/mauricewilson