Who You Are With Money

WEBVTT

00:00:00.270 --> 00:00:03.069
Hey there, and welcome to Faith and Finance,

00:00:03.350 --> 00:00:06.230
where your values and your financial vision come

00:00:06.230 --> 00:00:09.189
together. I'm your host, Geil Thompson, financial

00:00:09.189 --> 00:00:12.869
advisor at Joseph Wealth Management. Every week,

00:00:12.910 --> 00:00:15.929
I'll be walking with you through the tools, truths,

00:00:16.190 --> 00:00:18.870
and strategies that help you build wealth with

00:00:18.870 --> 00:00:22.429
purpose, clarity, and peace. Because your money

00:00:22.429 --> 00:00:25.829
isn't just about what you have, it's about what

00:00:25.829 --> 00:00:55.670
you're building. Let's get started. Welcome to

00:00:55.670 --> 00:00:58.250
Faith in Finance. I'm Geil Thompson, Financial

00:00:58.250 --> 00:01:01.590
Advisor at Joseph Wealth Management. Each week,

00:01:01.649 --> 00:01:04.150
we break down how capital moves, how markets

00:01:04.150 --> 00:01:06.590
shift, and how you can position your resources

00:01:06.590 --> 00:01:09.390
with wisdom and strategy to build ownership,

00:01:09.829 --> 00:01:12.870
grow your wealth, and establish lasting legacy.

00:01:13.230 --> 00:01:16.909
Let's get into it. Before we talk about money,

00:01:17.129 --> 00:01:20.230
we need to talk about something even more important,

00:01:20.349 --> 00:01:23.549
and that's who you are with money, because your

00:01:23.549 --> 00:01:26.650
identity How you think about money will determine

00:01:26.650 --> 00:01:29.590
how you use it, how you build it, and whether

00:01:29.590 --> 00:01:33.189
you'll even multiply it. Most people were never

00:01:33.189 --> 00:01:35.909
taught to think like owners. We were taught to

00:01:35.909 --> 00:01:39.530
think like workers. We go to school, get a job,

00:01:39.750 --> 00:01:43.489
pay the bills, try to save something if there's

00:01:43.489 --> 00:01:46.790
even anything left, and maybe, after decades

00:01:46.790 --> 00:01:50.189
of working, hope that there's enough for us to

00:01:50.189 --> 00:01:52.849
even retire on. But I want you to know something,

00:01:52.930 --> 00:01:56.439
folks. That's survival. That's not a wealth model.

00:01:57.319 --> 00:02:01.019
Survival doesn't equate to wealth. You see, there

00:02:01.019 --> 00:02:03.900
is a game being played every single day right

00:02:03.900 --> 00:02:06.719
in front of us. But most people were never taught

00:02:06.719 --> 00:02:10.840
the rules. The game is called capital. Most people

00:02:10.840 --> 00:02:13.599
know how to work for money, but very few have

00:02:13.599 --> 00:02:15.939
been taught how to make money work for them.

00:02:16.460 --> 00:02:19.780
And once you understand how capital moves, how

00:02:19.780 --> 00:02:22.599
ownership creates multiplication. everything

00:02:22.599 --> 00:02:26.860
changes. This is where the shift begins. From

00:02:26.860 --> 00:02:29.800
working to earning, from earning to owning, and

00:02:29.800 --> 00:02:34.800
from owning to multiplying. A basic mindset will

00:02:34.800 --> 00:02:38.120
ask questions like, well, how do I make more

00:02:38.120 --> 00:02:42.159
money? Or how much do I make? But let's change

00:02:42.159 --> 00:02:44.500
that narrative. Let's ask that question a little

00:02:44.500 --> 00:02:48.039
bit more strategic. The wealthy would ask something

00:02:48.039 --> 00:02:52.340
more like, What do I own that continues to earn

00:02:52.340 --> 00:02:56.319
even when I'm not working? So whether that's

00:02:56.319 --> 00:02:58.400
investing in real estate, investing in the stock

00:02:58.400 --> 00:03:01.080
market, because here's the thing, right, folks?

00:03:01.479 --> 00:03:04.599
Everywhere you look, people are spending money

00:03:04.599 --> 00:03:08.500
and not everyone is participating in the spending,

00:03:08.520 --> 00:03:12.120
but many people are actually owners. So let's

00:03:12.120 --> 00:03:15.020
talk about basic things we do every day. Some

00:03:15.020 --> 00:03:17.300
of you probably purchased coffee this morning.

00:03:17.789 --> 00:03:20.909
But let's be clear. Someone owned that Starbucks.

00:03:21.210 --> 00:03:24.509
And even more, someone owns that Starbucks stock.

00:03:25.349 --> 00:03:28.189
People are filling up their gas. Guess what?

00:03:28.289 --> 00:03:30.469
You probably put gas in your car this week for

00:03:30.469 --> 00:03:33.990
work. But someone owns the gas station. And even

00:03:33.990 --> 00:03:36.750
more importantly, someone owns the energy companies.

00:03:37.389 --> 00:03:41.090
People are buying new iPhones, Samsungs, Androids,

00:03:41.110 --> 00:03:44.129
whatever it is. But guess what? Someone owns

00:03:44.129 --> 00:03:48.330
Apple and its stock. You see? Ownership is the

00:03:48.330 --> 00:03:51.389
seed of wealth. And this is where your financial

00:03:51.389 --> 00:03:55.729
identity shifts from worker to owner. So why

00:03:55.729 --> 00:03:59.530
not you? Why not you own the Starbucks stock

00:03:59.530 --> 00:04:03.310
or the BP or the shale stock or even the Apple

00:04:03.310 --> 00:04:06.969
stock? So when consumers eat or they spend their

00:04:06.969 --> 00:04:09.610
money or they use these products, it works to

00:04:09.610 --> 00:04:14.370
your benefit. Now, now that you understand ownership

00:04:14.370 --> 00:04:18.660
matters. Let's get very practical, because when

00:04:18.660 --> 00:04:21.019
we talk about ownership, we're really talking

00:04:21.019 --> 00:04:25.060
about controlling assets, things that continue

00:04:25.060 --> 00:04:28.839
to appreciate and produce value whether you're

00:04:28.839 --> 00:04:32.279
working or not. So what exactly is an asset,

00:04:32.399 --> 00:04:36.680
you may ask? Well, this is the definition. Ultimately,

00:04:36.720 --> 00:04:39.399
it's anything that produces value over time.

00:04:39.639 --> 00:04:43.790
So, for instance, your home. Whether you own

00:04:43.790 --> 00:04:46.550
it or you rent it, someone purchased it at a

00:04:46.550 --> 00:04:50.230
particular price. And that house now grows in

00:04:50.230 --> 00:04:53.990
value, which makes guess what? In an asset. A

00:04:53.990 --> 00:04:56.689
stock. We've talked about several of the companies

00:04:56.689 --> 00:04:59.529
that we use on a regular basis, whether it's

00:04:59.529 --> 00:05:03.069
Shell Gas or it's BP or it's Apple. I have an

00:05:03.069 --> 00:05:05.930
iPhone or even if it's a cup of coffee. There

00:05:05.930 --> 00:05:09.750
are stocks that pay dividends on growth as guess

00:05:09.750 --> 00:05:14.120
what? As long as you own these. assets. And lastly,

00:05:14.240 --> 00:05:17.439
let's talk about businesses that generate profits.

00:05:17.899 --> 00:05:20.720
And guess what? Those businesses that are profitable

00:05:20.720 --> 00:05:23.480
are considered assets. So if you're thinking

00:05:23.480 --> 00:05:26.459
about even entrepreneurship, it's definitely

00:05:26.459 --> 00:05:28.779
food for thought because it becomes an asset

00:05:28.779 --> 00:05:32.300
to you later on down the line. Think of assets

00:05:32.300 --> 00:05:37.060
like seeds. You plant them, you water them, or

00:05:37.060 --> 00:05:40.959
you get other consumers to water them. But in

00:05:40.959 --> 00:05:44.459
the long run, they protect you. And over time,

00:05:44.680 --> 00:05:48.199
they grow. So if you're only working for money

00:05:48.199 --> 00:05:52.000
and never acquiring assets, you're only earning.

00:05:52.060 --> 00:05:54.819
And you're only earning as long as you're working.

00:05:55.500 --> 00:05:59.480
But when you own an asset, your wealth has the

00:05:59.480 --> 00:06:03.759
ability to multiply independently of your labor

00:06:03.759 --> 00:06:07.319
or even the hours you've worked. That's where

00:06:07.319 --> 00:06:10.660
we're trying to get to now. Let's clear up one

00:06:10.660 --> 00:06:13.420
thing that most people oftentimes misunderstand

00:06:13.420 --> 00:06:16.879
about the wealth building process. And I get

00:06:16.879 --> 00:06:18.959
it. It can be quite intimidating. And that's

00:06:18.959 --> 00:06:22.959
the stock market. But for many, although this

00:06:22.959 --> 00:06:25.680
may be a complicated subject, I just really want

00:06:25.680 --> 00:06:28.959
you to know it's really not. At its core, it's

00:06:28.959 --> 00:06:32.240
very simple. It's just a marketplace of businesses.

00:06:32.660 --> 00:06:35.639
When you buy a stock, you're buying ownership,

00:06:35.879 --> 00:06:40.560
a real piece of a real company. Now, depending

00:06:40.560 --> 00:06:43.040
on the number of shares you acquire over time

00:06:43.040 --> 00:06:46.439
determines your percentage of ownership. However,

00:06:46.800 --> 00:06:50.579
what comes with owning these assets is what's

00:06:50.579 --> 00:06:54.120
important. It's power. It's power to buy back

00:06:54.120 --> 00:06:57.560
your time. It's power to free yourself where

00:06:57.560 --> 00:06:59.720
you're no longer just working from check to check.

00:06:59.920 --> 00:07:02.980
No longer are you just making money, but now

00:07:02.980 --> 00:07:07.399
your money is working for you. The next time

00:07:07.399 --> 00:07:09.720
you see a McDonald's, I want you to think about

00:07:09.720 --> 00:07:12.139
something. Do you own any of those McDonald's

00:07:12.139 --> 00:07:14.899
stocks? Because guess what? Every time someone

00:07:14.899 --> 00:07:18.399
purchases fries, it could benefit you. Do you

00:07:18.399 --> 00:07:21.879
own Apple stock so that every time anyone upgrades

00:07:21.879 --> 00:07:24.720
their iPhone or purchases a new iPhone, guess

00:07:24.720 --> 00:07:27.819
what? You participate in the value creation.

00:07:28.019 --> 00:07:30.759
And guess what? You also benefit from the stock

00:07:30.759 --> 00:07:34.560
price. Listen, there are benefits that come with

00:07:34.560 --> 00:07:37.769
your ownership. The stock market isn't gambling.

00:07:38.089 --> 00:07:41.470
It's ownership. But you first must approach it

00:07:41.470 --> 00:07:46.350
with knowledge, strategy and patience. I want

00:07:46.350 --> 00:07:49.509
to address something that oftentimes go unspoken.

00:07:49.509 --> 00:07:51.949
And I was there. So I think it's important for

00:07:51.949 --> 00:07:55.910
us to talk about it. And that's fear. See, I

00:07:55.910 --> 00:07:58.430
know that oftentimes we've heard phrases like

00:07:58.430 --> 00:08:01.490
where people perish is because they don't have

00:08:01.490 --> 00:08:04.449
knowledge. Well, I'll say this as well. Sometimes

00:08:04.449 --> 00:08:08.050
people fear what they don't know. And I know

00:08:08.050 --> 00:08:10.709
for many people, when you hear words like assets,

00:08:11.089 --> 00:08:16.209
capital, ownership, stocks or businesses, one

00:08:16.209 --> 00:08:19.589
or two things happen. We either not politely

00:08:19.589 --> 00:08:22.290
as if like, oh, I really understand what you're

00:08:22.290 --> 00:08:25.750
saying. But deep down inside, you may feel unsure,

00:08:26.149 --> 00:08:31.110
sometimes even confused. But listen, I know this

00:08:31.110 --> 00:08:34.779
may sound complicated. I don't want to get it

00:08:34.779 --> 00:08:39.320
wrong. I know I've said that several times, but

00:08:39.320 --> 00:08:41.580
this is for the people that are ready to move,

00:08:41.799 --> 00:08:44.759
that are ready to make money. And let me pause

00:08:44.759 --> 00:08:48.039
right here. There's nothing wrong with you. You

00:08:48.039 --> 00:08:51.259
lack nothing. You're not missing anything. All

00:08:51.259 --> 00:08:54.600
you're missing simply is a strategy. You were

00:08:54.600 --> 00:08:56.879
never taught the language of ownership, so of

00:08:56.879 --> 00:08:59.379
course this is going to sound new. But don't

00:08:59.379 --> 00:09:02.950
resist it, because listen. This can truly break

00:09:02.950 --> 00:09:07.429
you free as well as your family. My role is to

00:09:07.429 --> 00:09:10.389
break this down so that you don't have fear.

00:09:11.110 --> 00:09:14.090
But at the same time, too, I don't want to water

00:09:14.090 --> 00:09:16.809
down this truth too much because I need to bring

00:09:16.809 --> 00:09:19.389
you up to the level where we are. You're fully

00:09:19.389 --> 00:09:22.309
capable of understanding how capital works, but

00:09:22.309 --> 00:09:24.929
you first must allow yourself to learn a new

00:09:24.929 --> 00:09:27.269
way of thinking and definitely a new language

00:09:27.269 --> 00:09:32.200
model. And yes, people will say. But isn't investing

00:09:32.200 --> 00:09:36.220
risky? Of course it is. Everything carries risk.

00:09:36.500 --> 00:09:39.460
But let's be honest. You've been working probably

00:09:39.460 --> 00:09:42.039
on your job more than a year or more than two.

00:09:42.240 --> 00:09:44.500
And there's some people who've even stayed on

00:09:44.500 --> 00:09:48.639
jobs for 40 plus years. If you don't think that

00:09:48.639 --> 00:09:52.179
that's risky, hey, that's a totally different

00:09:52.179 --> 00:09:54.980
type of risk. But this is what I need you to

00:09:54.980 --> 00:09:57.220
understand about risk. It's not about eliminating

00:09:57.220 --> 00:10:00.440
it. We're not trying to eliminate risk. It's

00:10:00.440 --> 00:10:03.080
about how do you manage risk through knowledge,

00:10:03.340 --> 00:10:07.720
through diversification, and time. Investing

00:10:07.720 --> 00:10:10.639
is not about gambling when you know what you

00:10:10.639 --> 00:10:14.220
own, why you own it, and how to position it for

00:10:14.220 --> 00:10:17.700
growth. There is a wealth formula, and I want

00:10:17.700 --> 00:10:19.919
to break it down for you. It's really simple.

00:10:20.720 --> 00:10:25.639
Number one, you earn from your work. Number two,

00:10:26.029 --> 00:10:30.149
You save a portion of what you earn. Number three,

00:10:30.190 --> 00:10:33.289
you purchase and own assets that grow and appreciate

00:10:33.289 --> 00:10:37.929
in value. And number four, over time, these assets

00:10:37.929 --> 00:10:41.549
multiply, producing more value so that guess

00:10:41.549 --> 00:10:47.629
what? You make money while you sleep. See, income

00:10:47.629 --> 00:10:51.669
and jobs pay bills, but ownership builds wealth.

00:10:52.549 --> 00:10:55.350
The world we're living in today, we're constantly

00:10:55.350 --> 00:10:58.769
moving at a fast pace. But please, don't allow

00:10:58.769 --> 00:11:02.769
technology, economic shifts, or even global events

00:11:02.769 --> 00:11:06.129
to make you not realize what's happening and

00:11:06.129 --> 00:11:09.509
the impact it's making on your finances every

00:11:09.509 --> 00:11:13.210
day, day in and day out. But while people react

00:11:13.210 --> 00:11:16.470
emotionally to the headlines, those of us who

00:11:16.470 --> 00:11:19.509
understand capital flow, we're positioning ourselves.

00:11:19.929 --> 00:11:23.210
We want to know where the capital is moving next

00:11:23.210 --> 00:11:26.450
because we know one thing. If we can identify

00:11:26.450 --> 00:11:29.429
where capital is moving, then we know that there's

00:11:29.429 --> 00:11:31.909
opportunity, of course, that's available there.

00:11:32.409 --> 00:11:35.309
So think about this the next time you look at

00:11:35.309 --> 00:11:38.470
the news. When governments spin, when industries

00:11:38.470 --> 00:11:43.019
shift, When new technologies emerge, watch the

00:11:43.019 --> 00:11:46.419
capital reallocations. Watch where the money

00:11:46.419 --> 00:11:48.620
is moving, because if you're paying attention,

00:11:48.980 --> 00:11:52.620
you can position yourself to participate, not

00:11:52.620 --> 00:11:55.519
just observe. We're no longer just standing in

00:11:55.519 --> 00:11:57.460
the coffee lines at Starbucks, people. We're

00:11:57.460 --> 00:12:01.279
buying the Starbucks stock, okay? So I want you

00:12:01.279 --> 00:12:03.960
to sit with this, and sit with this as kind of

00:12:03.960 --> 00:12:07.799
food for thought. Ask yourself, who have you

00:12:07.799 --> 00:12:10.639
been with money? And how have you been with money

00:12:10.639 --> 00:12:15.179
up until now? Think about that. Are you one of

00:12:15.179 --> 00:12:18.440
those people that are just saving it and tucking

00:12:18.440 --> 00:12:21.059
it away, but it's actually not producing anything

00:12:21.059 --> 00:12:25.240
for you? Listen, because wealth isn't simple,

00:12:25.399 --> 00:12:29.559
I want you to understand this. This is all about

00:12:29.559 --> 00:12:33.220
identity shift. We want to shift your identity.

00:12:33.720 --> 00:12:36.399
You've been taught to think like a worker, but

00:12:36.399 --> 00:12:39.240
wealth builders think like owners. They don't

00:12:39.240 --> 00:12:41.779
think just like workers. They think about ownership.

00:12:42.259 --> 00:12:44.980
This is the journey we're taking together. Week

00:12:44.980 --> 00:12:47.379
after week, we'll teach you how capital moves,

00:12:47.580 --> 00:12:50.200
how markets shift, and how to position your resources

00:12:50.200 --> 00:12:54.159
with wisdom, strategy, and clarity. The next

00:12:54.159 --> 00:12:56.840
move is yours. You can keep watching capital

00:12:56.840 --> 00:13:00.419
move, or you can take a position yourself to

00:13:00.419 --> 00:13:03.690
participate. And if you're ready to move, From

00:13:03.690 --> 00:13:07.090
information to execution, I invite you to connect

00:13:07.090 --> 00:13:10.029
with us directly. Go to josephwealthmanagement

00:13:10.029 --> 00:13:13.950
.com. Contact us and schedule your private consultation

00:13:13.950 --> 00:13:17.230
today. Whether you're building, restructuring,

00:13:17.230 --> 00:13:20.269
or expanding your financial plan, we want you

00:13:20.269 --> 00:13:24.230
to prosper. And as you prosper, your finances

00:13:24.230 --> 00:13:27.429
will prosper as well. Every season of wealth

00:13:27.429 --> 00:13:31.169
requires strategy. Let us help you build yours

00:13:31.169 --> 00:13:33.620
together. I look forward to seeing you soon.

00:13:37.519 --> 00:13:40.639
Today, we talked about who you are with money.

00:13:40.940 --> 00:13:44.580
And I really want you to assess, truly ask yourself

00:13:44.580 --> 00:13:48.500
who you are with money. Let me give you a story.

00:13:49.059 --> 00:13:51.899
It's known as the parable of the talents. There

00:13:51.899 --> 00:13:55.100
was a master who went off. But before he went

00:13:55.100 --> 00:13:57.059
off, he entrusted three of his servants with

00:13:57.059 --> 00:14:00.059
specific amounts of money. One, he gave five

00:14:00.059 --> 00:14:02.850
talents. the other two, and the third one he

00:14:02.850 --> 00:14:05.710
gave one. The Bible says he gave it to them each

00:14:05.710 --> 00:14:09.269
according to their ability. See, he didn't just

00:14:09.269 --> 00:14:11.870
give them instructions, but just an opportunity.

00:14:12.889 --> 00:14:15.350
Two of them, it says that they actually went

00:14:15.350 --> 00:14:17.990
out. The one that had five talents went out and

00:14:17.990 --> 00:14:21.049
traded and received five more. The one that had

00:14:21.049 --> 00:14:23.370
two talents went out and multiplied and received

00:14:23.370 --> 00:14:26.769
two additional. But that third one, the one that

00:14:26.769 --> 00:14:29.570
had one talent. The Bible says that he buried

00:14:29.570 --> 00:14:33.210
his talent out of fear. So when the master returns,

00:14:33.610 --> 00:14:37.389
he doesn't get upset. He's just a bit grieved

00:14:37.389 --> 00:14:41.649
because he did nothing. He let fear paralyze

00:14:41.649 --> 00:14:44.909
his potential. This story isn't about money.

00:14:45.350 --> 00:14:48.590
It's really more so about mindset. And it's the

00:14:48.590 --> 00:14:51.350
reason I asked you the very question, who are

00:14:51.350 --> 00:14:55.009
you with money? The first two saw themselves

00:14:55.009 --> 00:14:58.389
as stewards and acted in faith. The third saw

00:14:58.389 --> 00:15:01.269
himself as a protector and fear held him back.

00:15:01.529 --> 00:15:04.450
And that's the same tension that each of us face

00:15:04.450 --> 00:15:07.710
on a day -to -day basis. God has placed something

00:15:07.710 --> 00:15:11.149
in all of our hands, whether it's income, a skill,

00:15:11.429 --> 00:15:15.009
a dream, or even a vision. The question isn't

00:15:15.009 --> 00:15:18.309
how much you've been given. The real question

00:15:18.309 --> 00:15:21.149
is, is are you putting the talents he's given

00:15:21.149 --> 00:15:24.950
you to work? Financial stewardship means taking

00:15:24.950 --> 00:15:28.519
action. not recklessly, but strategically with

00:15:28.519 --> 00:15:31.899
wisdom and courage. So whether you're working

00:15:31.899 --> 00:15:34.639
with a little or a lot, this is your invitation

00:15:34.639 --> 00:15:38.399
to shift from fear to faith, from protecting

00:15:38.399 --> 00:15:41.720
to multiplying, from surviving to building something

00:15:41.720 --> 00:15:44.740
that lasts. Because God doesn't just provide

00:15:44.740 --> 00:16:16.070
the resource, he honors our response. The Faith

00:16:16.070 --> 00:16:18.470
and Finance podcast is intended for educational,

00:16:18.750 --> 00:16:21.110
informational, and entertainment purposes only.

00:16:21.230 --> 00:16:23.350
The views and opinions expressed by the hosts

00:16:23.350 --> 00:16:25.929
and guests are their own and do not necessarily

00:16:25.929 --> 00:16:28.710
reflect those of Joseph Wealth Management, Joseph

00:16:28.710 --> 00:16:31.750
Eden Capital, or any affiliated entities. Nothing

00:16:31.750 --> 00:16:34.029
shared on this podcast should be construed as

00:16:34.029 --> 00:16:37.490
personalized, financial, legal, tax, or investment

00:16:37.490 --> 00:16:40.230
advice. All investing carries risk, including

00:16:40.230 --> 00:16:42.690
the potential loss of principal. Listeners are

00:16:42.690 --> 00:16:44.669
strongly encouraged to consult with a licensed

00:16:44.669 --> 00:16:47.289
financial advisor or fiduciary who understands

00:16:47.289 --> 00:16:49.909
their unique circumstances before making any

00:16:49.909 --> 00:16:52.190
financial decisions. Joseph Wealth Management

00:16:52.190 --> 00:16:54.590
and Joseph Eden Capital are registered entities

00:16:54.590 --> 00:16:57.129
and operate in accordance with applicable regulatory

00:16:57.129 --> 00:17:00.409
guidelines. Business is conducted only in jurisdictions

00:17:00.409 --> 00:17:03.250
where they are duly licensed or exempt from registration.