How This Single Mom Built Wealth In 2025

So I want to spend a little bit of time on how a Single mom of five can build a business in 2025 today, can recover a lot of money in taxes, reduce tax liability, create more wealth for their family and be properly positioned for the long term without having to take on massive risk. Meaning I don't need to hunt for any particular money making opportunity online. What this person can do and what you can do. Watching go back. The first half of this masterclass was focusing on the personal development side within your values, beliefs, your mission and purpose. There's a business in there and we have to just activate it, we have to unlock it, then we go into the marketplace and we see where it can best fit into the marketplace. We need to develop our skill set so that people can see our value and then pay us for that value. So with a single mom, five kids, what her vision? This is her own words. And I'm going to have you guys do this as well. Whenever I work with clients, I like to take lots of note when I work with you guys because it's your words that I'm then using on you whenever you fall off. And that's what accountability is for. So entrepreneurial vision. This is from a mom of five. I want to eventually be able to be my own boss and or be able to plug into something much bigger than myself and teach my children and grandchildren how to do the same. So we have a framework so far. So mom, single mom, five kids, she is using the word entrepreneur. Entrepreneur desire. She wants to be a boss, okay. Or plug in to something bigger than herself and the root or the result, once she learns how to plug into something bigger than herself, she wants to be able to teach her kids and the grandchildren, teach children and grandkids, huge. That's our foundation. Now she's got some long term goals here. There's things that she wants to do to her home. She wants to have a property in Missouri. So we're located in Missouri, this is the state that we're in. She already has one home. She wants another property in Missouri and essentially establish a compound, you know, some sort of properties, you know, foundation home base, close to a gun range so that she could learn how to shoot. Her kids can learn how to shoot, they can learn how to defend themselves. That's a value that and we have experience. She's got experience in the medical field. So when I'm working with you one to one, I'm looking at existing skill sets that you have existing skill sets and then new or unexplored interests. So we got existing skill sets and then we have new or unexplored skills from there. I will do research on the place that this person wants to be in. So it's critical that you spend time like this now with me. And I'm asking you to comment. 23 people in the house, I think we were upwards of 40 earlier, and I was asking you, what are your values and your beliefs and what is your mission and what is your purpose? And it's so interesting that really only one of you answered or even attempted to answer in the hour and a half. And I know not everyone is planted. I know some of you are mobile, in a car, driving, on your way to work, all that good stuff. But there are some of you that are planted, dialed in, focused. You're at your table, you're studying. This is your learning time, and you're not participating. You're missing out on an opportunity. My hope is that you'll at least comment in the video below once this video is done to just air your thoughts out, get those thoughts out. There is no bad vision, no wrong purpose. It's simply in alignment with you or not in alignment with you. It's either clear or it's not clear. For this mom right here, we're not fully clear yet. We don't know exactly what it is, but we have these ideas that we're formulating and I'm taking you through that process of how we're going to get there sooner. So I know that she wants to have a property in Missouri. She wants to establish like a base, be close to a gun range, so there might be a business there potentially. I know that she has a desire to potentially be in a boss so CEO position or plug into something like an organization that's bigger than herself where she can continue to grow her income. You know, she more than willing to work with someone in partnership, not necessarily for someone. And we know that long term she wants to be in a position where she can teach her children and grandkids. Okay, that's good. Now, what we also know is she does have some existing skill sets. What are her existing skill sets? Well, she's a mom of five. She probably knows how to do a lot in terms of raising and patience management. And she's already proven a good financial stewardship. We've been working together for a year and she's been able to double her cash flow without necessarily increasing her income. In fact, her income went down about 200 bucks, almost 300 bucks. So very efficient with her dollars that's very good. We're going to need that from an entrepreneur standpoint. We're going to need that. She's got medical experience, 26 years in the medical space. It's like a medical specialist. I forgot the exact title of her job. I think it's medical coding specialist. And so she's been in that field for 26 plus years. So there might be something in the medical field. And then we got new or unexplored skills. So whenever I talk to this mom in particular, we'll often have conversations about government, about the way certain things are run and handled. So she had got me thinking. I'm like, okay, maybe, maybe she might be interested in politics later in her life. Maybe, maybe she might be interested in one of those advocacy type groups that are like indirectly, directly involved in politics to some extent. She's got a lot of thought about how certain things work and how they can work better. So she could be a operator and that could be an unexplored skill set that she could build. So these are the early growing stages, stepping into entrepreneurship, positioning ourselves for wealth creation. Let's say we figured out what the what is and in this little column, the how. And we can start with the free way to do it up and then work our way up to paid. So initially, the moment you get an idea, you can establish a sole prop. Sole proprietorship. You're not incorporated yet, you're not officially in business yet, but that's okay because you have time to formulate these ideas and to save the money up. Save the money up to then put into the business to establish what that idea will be. So sole proposal is typically free outside of whatever it costs to maintain a certain amount of money in a business checking account at a bank. I always recommend my clients to open up when they're going to start a business. Open up an account with a credit union, a local credit union, because their limits are going to be much smaller than bank of America. You know, if you open up a business checking account with one of the big banks, you're going to pay 12, 15 plus dollars a month probably. And in order to avoid that fee, you have to maintain sometimes about like 5,000 bucks, I think, or more per day. Maintain $5,000 or more in a business checking account to avoid that fee. Whereas at a local small credit union, sometimes the balance you have to maintain on a daily basis is only like $1,500, sometimes a thousand. Sometimes they give you like time to really get the money in there. So that's a Nice little tweet there. So you got sole prop, which is free. I think someone can fact check me on this. Let's say you're sole prop for one year or less and you had expenses of around, I think 10,000 or less. Could be more, not, not certain. But you have what's called startup cost that could be used as taxable deductions before you even have the business enforced. Yet, to give you an example, when I first started my business, and I'm going to delete this part right here, I started technically making videos on YouTube around August of 2018. I think it was August or sooner 2018, I started making money. The first amount of money I made was August. Started making money from August to January. I was unincorporated. I was essentially like a sole prop. I was receiving money from you all back, way back in the day. If you were with me back in 2018, people were giving me money. I was eventually going to have to pay income tax on that money. Ordinary income tax, highest tax that you'll pay. So from August to January, I had startup cost to run the business. So let's say I made 10 grand from August to January, but I had $10,000 of expenses by January. I incorporated, got an LLC. My accountant was able to go back in time, and I think you can go back up to one year. And she was able to capture those startup costs and that offset the income. So now that the tax liability either went to zero or very, very low, I ended up making a lot of money in my first year. But for most businesses do not make profit in the first year or any money at all. But that's not necessarily a bad thing because most businesses need about three to five years to profit. So there's a tax play that occurs where even if the business is not making money and this mom is still working a W2, when she decides to start that business and get it going, even if it doesn't make money, she has expenses in here that can turn into tax deductions, deduction on the business side, which then lowers her tax liability on the W2 side, which literally puts more money in her pocket. So she has more money, more net cash flow, and she directed dollars to the business, got a tax deduction for that, she gets a refund, a higher refund on her tax return. And that gives her the time to really grow the business and step into the thing that she really, really wants to do. So we're not going to abandon the debt payoff. We're going to still do that. We're Also formulating ideas. This doesn't cost anything but your time. So you're building your time. You're intentionally depositing time into the wealth building activities according to your skills, gifts and talents, new and new and or unexplored skill sets to discover the thing that you want to do this moment. Hired a financial coach, partnered up with me, has the accountability and support. She's using other methods. We're putting it all together, we're making it happen. So simple case study, just showing you like we can be at any level and make this happen. So netting just under 5k a month is not a lot of money in the United States. Okay. But because she has incorporated cultural shifts, she's transformed her mind. She did one particular move that most people never do in their life. She invested in accountability. So she could have took this $50 that she's paying me a month and she could have bought bitcoin with it. She could have bought a stock with it. She could have, you know, just had that money sit in a high yield and be scared and worry and hope and pray for a rate of return. She decided. And it was a higher number initially, but we reduced it so that she could have more cash flow to achieve her moves. Because I'm confident and I'm the type of coach that if you do what I say, if you lock in with and you actually execute on the things that we discuss and I lay out the blueprint and you follow it and you do it very accommodating. I'm more than willing to cut my amount of money that I'm making off of my clients. I'm more than willing to reduce. There's even times where I go to zero. The fact that that person initially committed to say, I want to work with you, I'm not in the best shape financially. I want to work with you and I'm willing to do the work. So they say it, they do it, they initially sign up, then they actually do the work. And let's just say life happens. It wasn't anything they weren't doing. It's just life happens, circumstance happens. Like for this particular case, this mom that I'm working with, there was a death in the family. One of her kids had an injury, broke his leg. Like there's been stuff that's happen to this mom. And then she had an honest conversation. She said, hey, I'm not able to afford the coaching plan that I initially signed up for. Can I pause, come back to you later? I said, absolutely not. You're not going to Pause anything. Matter of fact, we're going to reduce the number to zero or whatever you think you can afford at this place in time, but we're not going to cut off our relationship. That's what we're not going to do. So you're going to keep calling me every month and you're going to check in and you're going to dial in and we're going to keep doing the work despite our circumstance. When you get that mindset to say, I need the accountability, I need a partner to team up with to take me to the next level, game changer. I'm very accommodating when it comes to my price. Like, my price is my price. And if it takes you five years to pay it, so be it. If it takes us two years, three years, whatever it is, so be it. Let's make it happen. Like, I'm very accommodating. I don't. I'm in a position now so blessed, where I don't even. I don't think about money anymore, in a sense. Like, even though I think about money all day long in terms of, like, working with clients and running numbers, running case studies. So in a way, yes, I think about money all day, every day, in a sense, because it's. It's my work. But I don't think about money like others think about money in terms of, like, I need it to do this and I'm hoping for this and ba da da. And what is this going to happen for me? It's like I'm just. I'm just operating. I'm just being who I am. I have these ideas in my brain about how money works, how it could work for this situation or another situation, and we implement it. And as long as I have that commitment from you, wow, we are able to do wonderful, amazing, impactful things together. Just like this mom is doing. In just one year, been able to double her cash flow without increasing her income. Her income actually went down a little bit. Circumstances outside of our control. But we're still dialed in, we're still working, we're still paying off debt, and we're still building and having ideas and conversations because we're doing all that now. As more debt gets paid off and more cash flow frees up, when the opportunity strikes and presents itself for her, she's going to have the confidence to move forward because she's already done the groundwork, she's done the mundane stuff. She's reading the books, she's watching the content, she's engaged. That's what this is all about. So again, when it comes to building wealth simultaneously while trying to get out of debt, the, the most efficient way to position yourself on the wealth side is to establish a business. But not just any business. Not just a business. You think that's going to make you money? No. You want to dial in on those values, beliefs, that purpose, that mission. We look at your pre existing skill sets that you have and any new or unexplored skills that you're interested in. Combine that together, we do market research together and we find out who's doing what you may want to do already or get engaged in so that we can proceed. And it doesn't cost a whole lot. It's amazing. It's amazing. So we got Jerry in the house. Need your one to one coaching, follow you for a year or so. But I don't know what I don't know and can't afford to make a mistake. I'm signing up right after this presentation. Wonderful. For those of you that are at that point willing to make that, that commitment, I have my, on my website, Denzel Rodriguez.com all my services are there that you can, that you can view. And again I'm very accommodating, very accommodating in terms of like payment options, payment plans. So I have the most amount of payment plans and options that I've ever presented before. So that link right there will take you, you can see all different options, what you get the whole layout, everything. One of those is going to work. One of those is going to fit for everybody. Love you're a student, an adherent of Dr. Miles Monroe. Don't. I don't live up to the Kingdom standards but I'm working on getting there. Nice reference to his definition of repentance. Absolutely, absolutely. We got a question. Love it. What is better to do a lump sum or monthly premiums and why? Beautiful. So quick little segue Carlos. Thank you for asking a question. Carlos is referring to life insurance premiums. His question is is it better to do a lump sum or monthly premiums? So when it comes to funding a life insurance contract, a permanent life insurance contract with cash value, let's say whole life, you have the option to make your premium payments monthly, quarterly, semiannual, annual or sporadic depending on how the company structures it. I for the last seven years have been paying my policies on an annual basis, a lump sum basis, all upfront, simply because it is technically cheaper to do. So let's say you're going to fund your policy $10,000 a year. If you were to stretch that out over monthly payments, the total amount ends up being like $10,600 or like $10,500. That extra 500 bucks is just fees from the insurance company because they're taking on the risk of the death benefit that they're insuring you for that you're paying the 10,000 on. That's why they do that. They're also providing an incentive on the other end. So if you say I'm going to pay 10,000 a year and you're going to give me this amount of death benefit, that 10,000, if you pay it all up front, it's less risk to the insurance company. That was the agreed upon contract. Pay that all up front, they give you the incentive of it just being 10k. Then all throughout the year, your 10,000, a portion of that goes into the cash value and it starts to grow. Day one, day one of starting the contract, however much is in there in cash value, that's how much it's going to grow by versus the person that pays monthly. Your money is growing each time you put new dollars in. So if you compared someone that pays their policy monthly compared to someone that pays their policy annually, same age, same gender, same health rating, all of it, same funding amount, the person that's paying in lump sum, one payment per year is going to have more cash value, their policy is going to perform better, and they technically paid in less because they're just paying in 10,000 versus the person that pays in monthly is paying 10, 5, 10, 6, something to that effect.