Welcome back to the Minority Money Podcast! I'm your host, Emlen Miles-Mattingly, and it's been an incredible four-year journey. We've reached listeners worldwide, and I want to express my heartfelt gratitude for your support.  Recently, I took the opportunity to revisit our very first episode, and it struck me how much has changed since then. Reflecting on the growth and transformations that have occurred, both personally and professionally, I am overwhelmed with gratitude. Throughout the years, we have had the privilege of learning from exceptional guests, including my own wife and daug ..read more

We often get caught up in the idea of making big purchases without fully considering the costs associated with them. In this episode we will explore the difference between price and cost through a conversation with my 15-year-old daughter about buying a car. While my daughter was focused on the price of the car and how to pay for it, I wanted to highlight the additional costs associated with owning a car, such as insurance, maintenance, and the cost of time spent away from other important activities. Understanding the difference between price and cost can also be applied to other significant p ..read more

What financial advice would you give to your younger self or your children? In this episode, I’ll discuss principles for teaching young people about money. These include paying oneself first, not spending more than one makes, investing early and frequently, never stop learning, and managing debt effectively. It is very important to have open conversations with family members about money and building a healthy relationship with it. Build healthy financial habits and ensure that future generations are equipped to make informed financial decisions. Listen now! Key Points: [02:40] #1 Pay yourself ..read more

As we near the end of the year's first quarter, let’s reflect on the goals we have accomplished and those we still aim to achieve.  In this episode, we’ll talk about removing obstacles and distractions in our lives that prevent us from reaching our financial goals. We will also explore the concept of body budgeting and how it ties into the brain's function in the body's ability to budget.  Plus, don't forget to sign up for our six-month Spring Cleaning Your Finances Boot Camp Program with group coaching, one-on-one sessions, and access to an award-winning software for 12 months.  ..read more

Spring has arrived, and it's time to freshen up more than just your home! Why not give your finances a much-needed clean-up?  Join me in this episode as we dive into the benefits of spring cleaning your finances and discover how Gen X Wealth's Jumpstart Your Finances Bootcamp can help you reach your financial goals.  Let's make this season the start of a new, financially savvy you! Key Points: [1:45] #1 Jumpstart Your Finances Bootcamp by Gen X Wealth [2:14] #2 Key areas covered in Gen X Wealth's Bootcamp [4:21] #3 Tips on managing retirement accounts after being laid off or changing ..read more

Businesses beware: The collapse of Silicon Valley Bank sends a stark reminder of the impact a bank failure can have.  In this episode, we explore the far-reaching consequences of the bank run that caused its downfall and the importance of FDIC insurance for both individuals and businesses.  Listen to learn more about the impact of Silicon Valley Bank's collapse on businesses and the importance of FDIC insurance for depositors. Key Points: [1:16] #1 The collapse of Silicon Valley Bank [3:15] #2 What happens when a bank collapses and the importance of FDIC insurance [5:38] #3 The impac ..read more

The power of insurance should never be underestimated. But how about we dig deeper into what insurances do and realign them with your financial goals? Today’s episode is about Indexed Universal Life insurance. We talk about how it can be a good investment while serving as your life insurance. We’ll also discuss how to understand policies so you can strategize investing for it. We’ll also debunk insurance misconceptions so you can utilize it according to your financial intentions and outcomes. Make your goal specifically yours. Reclaim your power to strive for life. Tune in now!  Key Point ..read more

We are already in the final days of Black History Month!  As we set our goals, we cannot help but strive for wealth. But how about we recalibrate them and aim for your well-being? Today’s episode is about setting your goals. We talk about how focusing on the things that speak longevity and genuine happiness as your goal brings you flexibility, clearer perspectives, and better relationships with the people around you.  Make your goal specifically yours. Reclaim your power to strive for life. Tune in now!  Key Points: [3:15] #1 What’s more important to you than money? [5:19] #2 F ..read more

If you've ever missed out on a big sale in the stock market because of fear or uncertainty, you're not alone. But don't let that fear keep you from taking advantage of potential gains. In this episode, we'll introduce the concept of dollar-cost averaging (DCA) - a practical investment method for those just starting. DCA allows you to control the frequency of your investments and can help reduce your overall risk. This strategy can also be used in your retirement accounts, where a portion of your income goes into your company retirement plan every month, purchasing shares of mutual funds, ETFs ..read more

Ensure your love lasts a lifetime. Plan your estate to secure your loved one's future and bring them peace of mind. In this episode, I will discuss the importance of estate planning and share a personal experience to highlight its benefits. I will also cover the documents that go into an estate plan, such as wills, trusts,  and medical health care directives. Estate planning will help you distribute your assets, and medical health care directives can ensure that one's wishes are respected in case of incapacitation.  Take the first step in showing your love for your family by creating ..read more