October 22, 2024
I never got the memo on money, and I know many of you can relate. From a young age—or as my grandmother would say, "when I came to my senses"—I knew we weren’t well off but I did not think we were poor. Living in the country in Jamaica, I had shoes to wear to school when many of my classmates went barefoot. But when I migrated to the U.S., it became clear that we were broke—beyond broke.
Whenever I got sick as a child, I just pushed through it because I knew my mom didn’t have the means to take me to the doctor. So, as a young child, I made a decision: I was going to have money. I promised myself I wouldn’t live on the "survival train" forever. When I got a job after college earning a good income, I thought I was set. Was I wrong.
Understanding the pillars of financial freedom became my focus. I had to figure out how this money thing works. I read books, attended workshops, and gained so much knowledge that I was able to help my family, friends, and even co-workers achieve financial stability.
That’s what led me to start my financial coaching practice. I want to help immigrants and others get off the hamster wheel and start truly living. As immigrants, we take great pride in working hard (often multiple jobs) to provide for our families. But in doing that, we miss out on so much. We lose time with the very people we’re working so hard to support—time we will never get back. We miss the chance to enjoy life.
Building Wealth for the Future
I’ve done what’s needed to start building wealth. I’ve lived below my means, built up my emergency fund, and saved for retirement. But now, I want my money to work harder for me. I want to build wealth, not just for myself, but for the generations to come. The question is, how do I do that while also taking care of my aging parents and ensuring my children are set for the future?
As the trailblazer in my family breaking the cycle of survival, I don’t have a blueprint or someone I can turn to for advice. But I’ve made it a point to educate myself. I’ve taken courses (some more useful than others), read books, listened to audiobooks, and watched countless YouTube videos. I’ve put my learning into practice by contributing to my employer’s retirement plan and opening a Roth IRA. But now, I’m looking for ways to invest in assets outside of retirement accounts—money I can access if needed—while still building wealth. I’m also working on creating streams of income where I’m not just trading time for money.
And through all of this, I want to help my clients do the same because when it comes to money, we are always learning. I get such joy when I see the peace my clients experience after going through my program. But wealth comes from owning assets, not from leaving money in a savings account—whether through the stock market, investment properties, or other opportunities.
Until next time, remember keep your money Irie!
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