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Episode 106: Ask Luzy: What Mindset or Attitude Shifts Are The Most Beneficial For Long-Term Financial Well-being?

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FEATURING

/ Luzy King

Luzy King is an award-winning Latina Wealth Coach. She became a first-gen investor after learning about investing and wealth building by accident through her MBA program in 2019. During the same year, Luzy was denied access to financial advice because she didn’t have $100K to start investing, and she made a commitment to learn things on her own and become the first one in her family to start investing. Now, she is passionate about teaching women of color all of the strategies she wishes someone would have taught her in school. Luzy is a certified trauma-informed Financial & Business Coach, contributing author, and Community Leader. Luzy is on a mission to destigmatize the idea of wanting more money, more money, and more options. She is ready to teach women of color how to build a legacy through stock market investing and entrepreneurship.

What Mindset or Attitude Shifts Are The Most Beneficial For Long-Term Financial Well-being?

Welcome back to the podcast, everyone! In today’s episode, I’m excited to address some of the insightful questions I received after speaking at a non-profit event focused on empowering Latinas to pursue political candidacy. Your engagement and curiosity about financial literacy truly embody the drive to break generational cycles and build wealth. But before we dive in, I want to remind you about Cash Libre, my new weekly newsletter series. Joining Cash Libre grants you access to actionable steps you can take from home to enhance your financial well-being.

Now, let’s delve into the questions. The first query comes from a 25-year-old sister seeking advice for her 18-year-old sibling on cultivating key financial habits. One fundamental practice I advocate for is paying yourself first. In our community, we often prioritize expenses over savings and investing. Shifting this mindset and making savings a priority, even with small amounts, lays the foundation for generational wealth.

Next, a question about mindset shifts for long-term financial well-being. It’s crucial to embrace the belief that wealth-building is attainable for you, regardless of your current financial status. Adopting a millionaire mindset entails investing in income-generating assets and consistently nurturing your financial growth.

For the 25-year-old sister, I recommend setting a goal to increase income through job hopping, ensuring fair compensation for your skills and expertise. Additionally, consider investing in retirement accounts like a Roth IRA, even outside of employer-sponsored programs, to capitalize on tax benefits and secure your financial future.

While I don’t have a blog specifically detailing the process of establishing LLCs, I encourage everyone, including those with traditional careers, to explore avenues for monetizing their skills and knowledge. Building multiple streams of income, whether through entrepreneurship or investments, is a cornerstone of wealth accumulation.

Lastly, I emphasize the importance of open communication about money within relationships and with friends. Discussing financial goals and values early on fosters alignment and accountability. And remember, leverage credit cards responsibly as a tool for earning rewards, not as a source of debt.

In conclusion, remember that you have the power to shape your financial future. Take advantage of available resources and opportunities, and don’t hesitate to reach out with any further questions. Let’s embark on the journey to financial empowerment and wealth creation together. Thank you for tuning in, and let’s build wealth together!

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What sets Luzy Apart

She is an exceptional, sought-after speaker whose passion for financial empowerment resonates powerfully with her audience. Her presentations left a lasting impact on the community, with attendees describing it as engaging, empowering, and providing clear actionable steps.

 

What sets Luzy apart is her ability to demystify complex financial concepts, making them easy to understand and incredibly engaging. Attendees have expressed gratitude for her tailored content that addresses their unique identities, creating a relatable and inclusive learning environment.

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Until next Time

Let’s Build Wealth Juntxs,

Luzy King