Untitled - October 31, 2025
00:00:00 Speaker: Hi, I'm Denise, host of the Working Moms Redefined podcast. Let's join together as we lessen the hold of mom guilt in our lives, thrive in our careers, and raise great kids. You are doing enough. Let us boost your confidence. Today on this episode of the Working Moms Redefined podcast. Parents hold a lot of responsibilities. We don't want to mess our kids up. And I don't know about you, but something that I know that I can use some help in is teaching our kids how to be responsible with money. Now growing up in a farming family, my mom still to this day balances the checkbook. So do I. And yet, is that something that I'm going to need to be teaching my children that is small scale? And then how do we look long term? What does investing and teaching our kids about investments look like? We have an expert with us. Her name is Beth Underhill. She is the founder of Lifestyle Equities Group and investing with Beth. She empowers families just like yours and mine, as well as investors, to grow and protect wealth through real estate. How interesting. We also dive in about private lending and her property legacy loop strategy, with a passion to really help and to teach that financial education piece with I don't know about you, but if I'm going to learn from somebody, I want somebody with a proven track record. And Beth has that. She's dedicated to help others build a freedom based lifestyle, stewardship and legacy across generations. Sounds pretty cool, right? Beth enjoys life with her husband, daughter, and their dogs out of Cincinnati, and when she's not structuring deals or mentoring investors, she is in the gym lifting weights and embodying the same discipline that she has used in her business to drive such success in wealth creation. Beth, thank you for joining us today. Well, thank you, Denise, for having me. And thank you for the lovely introduction. I appreciate that very much. Warranted. And, Beth, if you are a listener right now and you are hearing all of these awesome things about you, and yet what is one of the biggest takeaways that you hope listeners leave with after our time together today? Um, I think the biggest thing that I want listeners to understand is that wealth isn't about having more, it's about having options. So freedom of time, freedom of choice, freedom of impact, um, and that really anybody can build wealth, um, if they intentionally want to do so. And that is truly made by aligning your money decisions with your values. And when you do that, and wealth is different for everybody, right? I mean, some people define wealth as, you know, how many dollars you have in your bank account or the things that you have. You know, for me, wealth looks a little bit different, but I think it's important for everyone to decide what does wealth look like for them and then intentionally create and and basically align your money, your values all with that. And you will you will experience what wealth truly is. I mean, wealth really starts on the inside and then it goes from there. Let's let's dive right in. How do you define wealth for you, Beth? Um, for me, you know, wealth starts, um, as I said it, wealth starts within. Um, when I started really understanding. Okay, how was I going to build wealth? It wasn't going to be about chasing the next real estate deal, the next business, or creating the next business, or or doing all the things figuring out, you know, should I invest in the stock market or not? It was really about, okay, so what are my values? Who I am as an individual? What do I define myself as? Um, how do others see me? How do I want others to see me? And from there, um, it's it's really about then starting to kind of make over who Beth is based off of what it is that I wrote down. And that comes from, you know, things like, okay, what are the foods I choose to eat? What are the daily habits that I decide I'm going to, um, implore, you know, if it's fitness, if it's water, if it's walking, if it's listening to, you know, thirty minutes of a podcast, if it's voice loops, you know, I love voice loops. Um, you know, all of those sort of things to, to make me believe, number one, that I can go create wealth and and wealth in the sense of, you know, from the dollar sign standpoint, but also create wealth for other people. And that's through giving and helping and, you know, being impactful and just, you know, every single day setting your intentions to say, how am I going to impact, you know, the people that I love and that I care about? And and that's through, you know, thoughtful intentions, you know, with your words, your actions, um, you know, just responding to even text messages in a kind and generous way. So, so that's that's kind of how wealth started for me. You know, it was like, okay, it's got to start internally so that externally then I can, um, I can exude, you know, what's coming from within. And that's just going to start to create, you know, this flow of abundance. So that's that's for me, beautiful. And I can't get past the fact that in that answer, Beth, there was no mention of dollars. No, I think that's a mind shift for some of us. Wouldn't you agree? I would agree, I think everyone like I, I think I mentioned earlier, people equate wealth with the dollar sign or wealth with the things you know. And you know, we've heard this before. Some of the wealthiest people are the unhappiest people, you know. So does that truly make them wealthy? And not necessarily. We all have an expiration date, right? So when that time comes, you know, I want I would hope that if I'm, you know, looking back at my life and seeing, you know, what what it is, what it is that I did or who I impacted or, you know, and really, for me, the biggest wealth transfer is not going to be what I leave to my daughter in the dollars and cents. It's what I'm going to leave to her in terms of how she lives her life, how she treats other people. Um, you know what her relationships are going to look like. Did she learn a single thing from me? And if she did, then I have transferred a level of wealth that you can't put a dollar sign. You can't attach a dollar sign to that. Which almost, I would say, gives parents a sigh of relief to know you're doing you're doing well. And yet, if you want to do even better or different, this is the place to be. I want to know, Beth, about your passion. But before we get to that, I have to go back to you said you love voice loops. Excuse my ignorance. Please explain what voice loops are. Oh, I I'm happy to explain what voice loops are. I use these on a daily basis. And this comes from a mastermind that I was involved in. Um, so they challenged us to make a voice loop. And the voice loop was, um, really designed to, um, you know, list out. You know who you are as an individual so that you can remind yourself. You know all the time, every single day. And so these voice loops are about a minute long. Um, and it's, it's all about who Beth is. And it's, it's really designed to help someone from, you know, the mindset shift of, of, you know, instead of taking all the negative in and believing what the world wants to tell you or wants to decide who you're going to be, your commanding, your subconscious to say, no, this is who I really am. So mine starts off with I am Beth and I am prosperity. And then it goes on from there and I can memorize it. I can spout it off, you know, I can say it over and over now that I've listened to it enough times. But essentially it's a minute long and there's this app called parrot, and I didn't know about it, so I, um, I downloaded it, I recorded a voice loop, and I just started listening to it over and over and over and over, and it's awesome. I, you know, um, on some mornings when I'm not in the gym, I'll go to, um, I do this contrast therapy where I go twenty minutes in a sauna and then do three minutes of a cold plunge. And so while I'm in the sauna, I'm just listening to this voice loop over and over for almost twenty minutes. I've got two different ones, so I divide it up. One. Yeah, one's for ten minutes, the other one for the other ten minutes, and it's really shifted. You know who I am? So when I look in the mirror now, I'm not looking at, you know, oh, gosh, you know, I'm, I'm not this or I'm not that. It's really I am this, I am that. So there's a lot of I am statements. But that's how we can transform ourselves into really embracing, you know, the beautiful person that we all were created to be. And, um, so yeah, it's been, it's I've been doing the voice lips now since, um, uh, end of June, and it's been very transformative. I can't wait. We are five, eight minutes in, and I already have a takeaway that I am going to be implementing today. Thank you. Beth. Your passion radiates. You can tell that you have a desire to help and dare I say you in a round about way, are telling listeners before wealth can come to you. In that abundance mindset, would you say that we have to really build a belief in ourselves that you are worth wealth at all? Oh, absolutely. I mean, for years I did not believe that I deserved anything. And and that, you know, came from oh, gosh, you know, just. Growing up, you know, things come at you. Um, you know, I grew up in a family of five. Love my family dearly. But, you know, we were all challenged with trying to gain the attention of of mom and dad and and so forth. And and then I went through a very dark period in my life, twenty six years battling an eating disorder. You know, there were so much of that, you know, trying to be perfect in so many ways. And and so I battled that and, and, you know, really, it wasn't until I got to the other side of it that I started to realize, like, I have value, I am worthy. But, you know, I still didn't believe it. And and it really it's one of those things that, you know, we're not we're not taught this kind of stuff. And, you know, I mean, it starts very early on. Now, even with kids so much younger, I mean, we didn't I didn't have social media growing up. Right? So it was a heck of a lot easier to grow up without it. But we were still impacted, right? But now these kids, I mean, Um, you know, I've seen children with phones in their hands at age eight and they're on, you know, these apps and TikTok and so forth. And, and I think there's a place for all of it. And I think it can do a lot of good. But by the same token, wow, it can do a lot of damage. And, you know, comparison is the thief of joy. And I, I do feel like there's a lot of joy being stolen right now simply because of, of the comparison that goes on. So in order to really, you know, embrace what's coming at you. And I think things were probably coming at me ten, twelve years ago, but I didn't feel like I was worth it. And so therefore it was very easy for, um, for me to push it, push it out of my life. And now I'm like, no, no, no, come at me, come at me. Let me decide what it is that I'm going to push out of my life because it maybe doesn't align with, you know, who I am as a person, my values or just timing, you know, whatever that looks like. But, um, but yes, you have to want to embrace it, want to believe it, want to believe that you deserve it. And I think that, um, that's a piece that that is often overlooked in terms of, you know, when it comes to, to wealth, you know, wealth building piece in both senses of the words p I e in the sense of you have to have that as part of the puzzle piece, if you will, while also, once you get there, there's a level of peace. P-e-a-c-e. And I love that you say that because it's multifaceted and you help people in lots of ways. As you can hear her talk about this, and if you're watching us on YouTube, you can see her get so excited about this piece of the puzzle, if you will, with wealth. But where did you Have this passion to be like, I'm gonna make a career out of this with investing with Beth and a lifestyle equity group that sounds so fancy and very foreign to yours truly. Well, you know, so much of this was. I mean, it was built. I mean, brick by brick, you know, Rome wasn't built in a day, and neither was Beth. Um, so brick by brick, it it was one of those things that I had to keep building on my experiences and and and overcoming adversity, and and really, I do believe that, um, people, you know, are afraid of failing. And I feel like I have someone that just has embraced it because it's happened so often. Right? Um, my husband and I both have had a very entrepreneurial, you know, heart and spirit. And, you know, when I first met him, I was like, oh my gosh, this is like the male version of me. I'm so excited! This is awesome and we have tried so many different things and we have failed at multiple things, and we have still managed to be here on this earth and continually bounce back. And I do believe that it is because we've embraced the fact that, hey, stuff's going to happen and it's okay, and we will figure it out. And sometimes it's me figuring it out, sometimes it's him figuring it out, whatever that looks like. Sometimes it's both of us figuring it out. But, you know, we've been through enough stuff to say that, okay, brick by brick, you know, we're just going to keep, you know, even if a few bricks fall, we're going to keep adding on bricks. And then we finally get to, you know, this tower that, that we built. And so, you know, when Lifestyle Equities Group came along, I was like, I need a name. I'm getting into real estate. I'm going to I want to, you know, be part of commercial acquisitions. What's that going to look like. So you know I thought about, okay, um, equity, you know, money and so forth. Lifestyle. You know, creating a lifestyle. So, you know, lifestyle equities group came about. Is it my. Forever. You know, name of what I think you know I where I'm even at right now. No not necessarily but that's okay. It's it's it's sticking around and it it houses you know all of my commercial acquisitions so that's fine. Um, and then investing with that really you know it kind of lifestyle equities group morphed into investing with Beth because I wanted people to know like, hey, you know, I, I want, you know, you to invest with me and together we're going to do this. And it's not necessarily just about investing in, in the, in the physical sense, right, of, of putting your dollars into deals. It's also about like, how can I invest in you and what can I do to help you? And creating this legacy wealth, again, not just from the dollars and cents standpoint, but but living life, you know, as a legacy and doing so on purpose. You know, we there's plenty of books that talk about, you know, living life on purpose and like the Purpose Built Life. I think that's what it's called. Um, and, you know, I do believe, like when I go to bed at night, I want to make sure that that my twenty four hours or however many hours that I were up, that I was awakened up, that I actually did something that was purposeful. And so that if you know, tomorrow, for whatever reason, I expired, you know, at least I can say that, hey, this day, you know, impacted meant something and and I can sleep well at night. I think, you know what? When you sleep well at night, that's a good sign that you're doing something right. It's when you are, you know, you've got so much on your mind. You can't get a good night's rest. You know, it's it's not that you're doing anything wrong. It's that there's just, you know, you're in too many different directions or or there's things that are weighing you down, stressing you out, and you're not really living that purposeful life that you know you're creating that wealth from within. As you can tell, Beth is speaking from experience in that you can tell that she has had some sleepless nights, but that then also means that your work now is aligned with those values that you referenced. And so you kind of already giving a guide as to how do we start working towards the thought of, hey, you don't need to necessarily work hard for money, but maybe shift that mindset to say how to make our money work for us. That's a that's an interesting mindset mindset shift for some. How do people start? Education number one. And you know, I think the one thing that, um, people tend to think is that financial literacy is inherited and it's not. It can be taught. It's something that if someone has a desire to learn more about money, the velocity of money, how to make money work for you as opposed to you working for it, it's something that there's YouTube University is out there. You can go learn from from, you know, all different strategies. If you're an audio person, there's plenty out there. If you like to read, there's plenty out there. And that's really what I started doing. I was like, I need to educate myself. I knew nothing about investing in commercial real estate, for instance, and I thought, well, what better way to learn than to just jump right in? I started attending, um, masterminds events and so forth. I was I was being discerning in terms of where I was going to go, what kind of money I was going to spend. I, I started off locally. There's plenty of things that, you know, plenty of places you can, um, you know, be able to, um, places and things that you can, um, I guess, invest in, so to speak, to learn from that aren't going to cost you thousands and thousands of dollars. I mean, you hear masterminds that are like forty thousand, fifty thousand. It's like, no, you don't need to start there. Um, that's sometimes throwing good money after bad. Um, so you have to be careful with that. Um, but for me, really, it's, it's I would say education is number one, understand? You know, what it is that you gravitate towards. You know, not everybody is a stock person. I don't want to learn about stocks. Like it doesn't excite me at all. You know, I pay attention to it because I think that to some degree it helps benchmark just what's going on in the economy, what people are thinking, how they're, you know, how they're feeling, what's driving them, and so forth. But that doesn't excite me. Real estate excites me. Insurance excites me. Um, you know, understanding the velocity of money, how I compounding interest and you know, where I can put my, my dollars in order to earn business, small business, growing a small business, you know wealth. Some of the the the largest, some of the wealthiest individuals really have become wealthy through business. And most people don't realize that. Some people think that, oh, you've got to be in the stock market, you have to be investing and so forth. But really, a small business that have have created the majority of wealth in this country. And so, you know, so again, learning, understanding, seeing what someone, whatever, whoever it is, um, you know, that we're, we're speaking to out there, you know, what do you gravitate towards. You know, what are you passionate about? If you like real estate, figure out like what area of real estate makes sense? Um, if it's if it's something else, if maybe you want to start a small business, you know? Okay, well, I created three different small businesses in addition to the one that my husband and I currently own, which we've had since nineteen ninety nine. I love to cook, so I started a catering business. Great. It was highly successful. Festival. We cater to one of the largest hospitals here in Cincinnati, and we did all of their events, but I did it out of my own home and eventually I was like, okay, we need to move this to a commissary, a kitchen of some sort. But I was pregnant at the time, and so my husband and I sat down and we weighed the pluses and the minuses, and we said, okay, well, I want to be I want to be there for my daughter. I don't want to be, you know, cooking for four hundred and fifty people on a Saturday afternoon when I could be watching my daughter at a volleyball game or a soccer game. So, you know, choices, right? Um, you know, so then I took my next passion, which was golf, and I turned that into an internet based business so I could stay at home, you know, raise my daughter and then drop ship everything. And that was beautiful. We had a great run with that as well. Um, and then I decided fitness was was the next thing. So I had a brick and mortar. So, you know, you can you can be whoever you want to be if there's something you gravitate towards in each one of those businesses had, you know, their own level of success in different ways. Um, but ironically, it was, you know, kind of the back to back businesses of, of a, um, a golf business and then a fitness studio, both catering to women, that I really developed this passion for wanting to help more women. And as I started to get involved in real estate and then in financial services as well too, I saw, wow, there's a huge disconnect here. There's not enough women in these spaces, and we need more women in these spaces. Why aren't women showing up? I was just at an event a couple of weeks ago in Nashville. I there were two women there, and there were thirty five guys. Financial services. And then the one, uh, the other woman, she left before we were able to take a picture. And so there's this picture of me and all these guys. I'm like, what's wrong with this picture? Um, but that's where the passion for helping women, you know, really started to evolve is just seeing the need of. Okay, I want I want more of of me in this space, you know, what can I do to make that happen? For the women that are listening to this and finding themselves saying inside, not externally, I can't do that. What would you say to them? Yes you can. There's no reason why you can't. You're telling yourself you can't. And I used to think. Mm. You know, can I do this? And I'm like, why not? Like, what is the worst that can happen? If it doesn't work out, it doesn't work out. But I, it's like, what is the quote by, um, Michael Jordan. You miss one hundred percent of the shots that you don't take. It's like, if I don't take that chance, then I'm never going to know. I don't want to look back on my life and say, oh, I wish I would have done this or I wish I would have done that or, you know, kicking yourself. I, I just I don't want to live like that anymore. I did that too much back in, you know, my earlier days. And and I never want to say I have regrets, but I can look back and say, gosh, you know, there's there's some things that I could have done and, and I wish I would have and, and, you know, interestingly enough, my daughter has taught me, um, a lot of that. You know, she always. What is the YOLO? You only live once, right? So I get that quite a bit when, if we're texting back and forth and, and I'm like, oh, honey, I'm so happy that you're doing this. And she comes back with yolo. YOLO. I, you know, and I'm like, you know what? Seeing her just going out and and living and experiencing. I'm like, I need to do the same. So for all the women out there that you think you can't, it's only because you're telling yourself that. But you can. And today is the day that you decide differently. I love it. A thought that often comes to my mind is, well, why not me? If I find myself taking the next step and then maybe hesitating before I take a second, I find myself saying, well, why not me? I mean, may as well watch me. And so it's that internal dialogue that plays such a role. And in addition to saying today is the day that you start, what is one tip that you would like to give working moms to start seeing themselves as capable investors, even putting that name behind them. Might sound scary, especially in a busy season. What's the tip? The good question. And you know, I do want to go back to that internal voice that is telling you you can't. That's where the voice loop can really start to change just how you feel about yourself. If you created a voice loop that says, I am a capable investor and you, you know, go use ChatGPT to help you come up with, you know, something that you want to, you know, tell yourself day in and day out that is going to be a mindset shift right there of you saying, yes, you know what, I can do this. Um, but yeah, really, that tip is I would say, um, the more you get educated, the more you start to surround yourself with the right people, the more you, um, push yourself to go to networking events and, and start to talk to people, you know, put yourself in the rooms. That's where you really need to be in the rooms, you know, again, in the books, in the rooms, in the education. And you're going to find the more you do this, the more comfortable you become. That's how like when I started looking at like it was really easy to do something out of comfort, right? So I enjoyed cooking. So cooking was easy, right? So it was easy to go create a business. And it was because the cooking portion of it was easy. I was like, oh, I can figure out the marketing part. Okay. Great golf, right? I knew what I would like if I were on the golf course, so that was easy. Fitness. I knew what kind of fitness classes I, I gravitated towards and, and also did some research to see what the need was. But when it came to commercial real estate investing, I had no idea. All I knew was that one day someone had said to me, one of these days I'd like to buy an apartment building. And I looked at this individual, and he happened to be an investor friend that had invested. Um, we did a joint, uh, fix and flip together. I looked at him and I'm like, you're crazy. Like, that's only for the wealthy people. Like, only they can buy one hundred unit apartment buildings. And as I started sitting on that a bit more, it was, you know, kind of the aha moment. Like, why not me? Like, what is it that I need to know? And you know what? I was scared to death about getting into commercial real estate because I knew nothing about it. Right. It wasn't like, oh, I've played golf before, so it's easy to know, like, you know what kind of glove I would like to wear if I were on the golf course and so forth. So, you know, yeah, if you find yourself getting into something that you don't know anything about, well, the best place is to just jump into the water and start learning, because, you know, if you dip your toe in, you're probably going to just pull that that toe right back and and you're never gonna it's like going into the swimming pool, you know, and you instead of just jumping in and you decide you're going to go down the stairs, you know, like on the shallow end and, and you start going in and it takes a little bit longer than just, hey, you get right in and you start to feel comfortable right away in that cold water. What a good comparison. And yet I'm thinking for me, I want my kids to know all of this. I want our children to know that there is so much more than the dollar bill they get for doing a chore on the weekend. Before I really can teach them, I kind of need to teach myself. So I love the education piece so that I can build a confidence within myself. So then when I want to go really teaching our children how to be more responsible with our money, I feel more educated in that. Am I correct in that you help parents teach that? What are some things that I can start implementing with our kids that can set them up on the right foot? Oh, I mean multiple things. I mean, at every, every stage in their life. And when I say stage, it could be if you kind of were to divide it out, so to speak, maybe ages three to eight, you know, and then eight to eight to fifteen and then, you know, sixteen to twenty one or so. I mean, you can be teaching your kids, you know, things along the way. If, if, if I were to take the, uh, the first age group ages three to, to eight, let's just say, um, I would probably start with something like, hey, you know, three jars or let them pick out, like, you know, three buckets of some sort, whatever that might look like. Take them to target, let them find, you know, there's so many inexpensive things in the dollar section, you know, that you can you can pick and and as they start to earn money, you know, start to show them, hey, there are three buckets in which you can put your money. Actually, there's you could technically say there's, there's more like four. Um, but I'll get to that here in a minute. But first one is give. What are you going to give. So what are you going to give? And to who are you going to give it to. So you're you're earning money, right. Well the tendency is, well I want to keep it. I want to hold on to it. I want to go, you know? You know, spend it on myself. Know? Let's start understanding and learning what giving really does and the power of giving. Because honestly, you give you're going to get that in return. I've seen that happen over and over and over. Um, then there's the bucket of saving and, and for a three year old, seven year old, you know, we're just going to have the saving bucket. But that other bucket would be a saving bucket and an investing bucket. And then there's the bucket of spending. And so it's it's like if we have ten dollars for instance, you know, we're going to take a dollar of that. We're going to take ten percent of those ten dollars. We're going to put a dollar of it into, um, the giving bucket. And then we're going to take the rest of it, the, the nine dollars. And we're going to divide that depending on how we want to divide that. It could be a a sixty forty split, it could be fifty fifty whatever that looks like. And we're going to divide that out and put some in savings. And we're going to say, hey, this is how much that you now have to spend. And let's hypothetically say out of that ten dollars, it's fifty percent goes to spending and forty percent is going to go to savings. Awesome. You know, well, you started to teach them like, hey, these are good strategies so that when they as they get older and they maybe earn that paycheck because they're working at Chipotle or Chick fil A or something like that, you know, in high school, you know, they get that two hundred dollars paycheck. Awesome. This is how this bucket is going to look now. And and you've already started to instill in them, you know, some of those values. And the cool thing is, is that you can be doing that right alongside with them with your own money, with like, hey, here's how I'm going to start allocating, you know, and it doesn't, you know, the giving bucket doesn't have to be big. You know, it's a start small. Um, depending on, you know, where you are with, you know, budgeting and so forth. But, you know, those are things you can start to teach them as they start to move, you know, as they start to get older, you know, one really good, you know, lesson is to begin budgeting, right. Like starting to teach them like, okay, guess what. It's back to school time. And here's here's how much I'm going to allow you. You know, here's the budget that you have for back to school clothes and, you know, be able to to start to show them, hey, how you can work within a budget and still look fashionable. I mean, there's plenty of options out there, but but just teaching them, you know, just the value of, you know, okay, this isn't like just we're we're is a free for all and we're going to spend as much as we, you know, want to spend. No, it's, it's we're going to start to learn exactly what this should look like as they, you know, as they start to, you know, work, you know, if they are, um, sixteen, they have a job and so forth. Well guess what. Go open up that that, uh, checking account with them. Um, you know, uh, co-own it together. Of course. And and maybe then have a savings account where they can transfer money. They can deposit the money into the checking account. They can transfer some of the monies into the savings account. And that's a good time to to start to even show them, um, hey, there's there's these options out there. Um, like, I started, um, with my daughter, uh, Charles Schwab had has this, um, these stock slices that you can invest in very small amount. You can pay one hundred dollars a month and you can just, you know, put like, you know, you can divide it up as to where you want it to go. And I was like, hey, my daughter's name is Gia. I said, Gia, tell me, like, what are your three like three top like stores, brands and so forth, you know, so she's got like target and you know, McDonald's and Nike and you know and this was like back back at the time when I first asked her and uh, so I said, okay, great. This is where I'm going to put like some of these your money into it so you own like a slice of their stock, but at least it's a place where they can go and they can look and they can see their money going up and down. And in all those fun things, lots of opportunities, you know, as you know, you go through the stages of life with your kids to teach them about money. And at the same time, too, you are learning yourself, right? You're you're learning just through being able to share with them. And and you know, obviously it's it's important if you're not following through and doing the same thing as to what you're teaching it, it's going to up here. It's going to start to kind of wear on you a bit, and you're going to start to think twice about, wait a minute, this is what I want to be teaching them. I need to be doing the same. I find it easy in the moments when, if we're going on a road trip on a Saturday and we go through a local coffee drive thru and the kids are like, we want a drink. And I say, what did you do this week to earn money for you to be able to pay for this? Now, selfishly, is there a little part of that where I'm like, I don't want to spend three dollars on a hot chocolate for you, but my seven dollar latte, I have no problem. I don't know if that's healthy or not, but you know what? The next time that we were leaving, the kids said, hey, are we going to go to Farmhouse Coffee? And you guys are going to get a drink? And I said, yes, yes we are. And Sydney, my eight year old goes, I'll go grab some money. And I was like, you betcha. So did I absolutely pay for her drink and take her money and then put it back into her jar? Yes, one hundred percent. But I loved the initiative that she took. I love your explanation of the three jars. We have a similar setup, but it's not super pretty. And I know that this is silly, but I want it to look good. I wrote this down. We are going home today and we're going to target and we're going to pick out some fun things, like you said in the dollar section, to be able to make it fun and pretty for them to do, because I only imagine and my parents did a fabulous job showing us how to budget. I would say sometimes I don't operate, though as much as I would like from an abundance mindset, because my parents parented from their parents ways and they were in the Great Depression. And so we save and you buy things not on a loan because we're a farm. So then you you buy things when you have the money. And so there's a dynamic there of maybe investing. Yes, a four hundred one K was great and that's what I was taught. But the the dynamic of wealth, I think I probably could have learned a little bit more, but they did us such a fabulous job. If you think back to your childhood, Beth, or your upbringing, what is something that you wish you had known maybe earlier that you want to share with parents Now. A couple of things. The first is that money is, um. It's neutral. It's neither good nor bad. And I do believe that there, um, like, growing up and in this didn't just come from my parents, right? It was just kind of. It was the time period of, you know, just how people viewed money. If if there were people that had money, well, they, you know, they're not good people. And, um, they're rich because and they, you know, there was almost, you know, not any sort of credibility given to them that they they earned it or they deserved it necessarily. Um, or that, you know, if you had too much money, it was bad. Um, and that you're a good person if you don't have a lot of money or you do good, you must be doing good because you don't have a lot of money. So, you know, money really is neutral, right? It's just a tool. And I wish I would have learned that so much sooner. Because for me, you know, I had equated money, you know, to so many different things in my head and even to my my worthiness that I wasn't worthy of money because I was doing bad things. So therefore, you know, I must not be worthy of it. So, yeah, it just it it's that part was, um, kind of a bummer to, to kind of get through life and then have the aha moment, you know, and uh, and be able to say, oh my goodness, like it. It really was never bad nor good. It was just it's just a tool and that's all it is. So that's number one. Number two just understanding the velocity of money and what it can do. So my father, um, he had an insurance policy. And there's a strategy that is talked about quite a bit, called Infinite Banking, if you're not familiar with it. Um, happy to to educate anyone on it. It's a great strategy and we can either talk about that at some point or I, you know, you can get in touch with me. But anyways, he had overfunded essentially a life insurance policy and utilized the overfunding on took out a policy loan, you know, because of the cash value that he overfunded it with and took out policy loans to then eventually, um, pay for our college education with five kids. Um, some of us had scholarships, some of us didn't. But that was how he had financed, um, the college education. Interestingly enough, he never shared that strategy with any of us. So as as we were going, you know, along in life, um, he he received this phone call one day from the insurance company, and the insurance company says, well, you owe us all this money back. Well, he had taken out the money in the form of policy loans. And if you take it out in policy loans, you don't owe the money back. If you take it out and withdrawals, then that's a whole different story. I mean, you do owe the money back from a policy loan, but as long as the policy can support, um, if it's growing enough inside, it can support the loans, and then that's fine. Um, but he was a little panicked. And then, you know, we sorted through that, we figured out everything. But, you know, upon his death, my mom received an inheritance that was the equivalent of whatever the death benefit was on the policy, less the policy loans that he had taken out. So it's a great strategy, right? And people use it to fund all kinds of things. He never taught us any of this. Ironically enough, here I am learning about this now. You know, however many years later and I become an insurance agent specifically so I can help other people, um, you know, implement this strategy as part of a, you know, a financial tool that can help them, you know, down the road, you know, both, as you know, a death benefit covering, you know, any of their loved ones in case of a loss, and also to growing and accumulating cash value. So if they want to use, you know, some of this cash value for college education. Um, you know, down payment on a house or anything like that, they can do. So, um, but my, my father never said anything. So I think it's the other thing is just not having enough conversations about money itself. And I think I would implore, you know, parents and especially moms, you know, to have those conversations. You know, money is not something it's not taboo. It's not something that shouldn't be talked about. Yet we do find that we get really uncomfortable when the, when the topic of, of money comes up, even if we're talking about it with family or friends. Um, but you know, most importantly, you know, your your immediate family, like your your kids and so forth. That is is when to really get them to feel comfortable about money, because the more comfortable they are with money, the better stewards they're actually going to be. I need to know about this. What is this infinite insurance policy? Is that what it's called? Tell me more. Well, the it's a it's a whole life insurance policy, but the strategy is called infinite banking. Um, so you essentially are taking a whole life insurance policy. You are funding this policy. Um, when I say up front, it could be, uh, it's generally over a period of it can be, um, you know, three to five years. Um, it could be a lump sum payment. As long as it doesn't, it doesn't. You're not over funding it too much to where it becomes what they call a mech policy. But that's for another day. Um, but anyways, you can fund these policies and then turn around. And within sixty, ninety days you can, you know, take some of those funds back out and start to use them in, in other ways. So you see this like in real estate, for instance, where someone will have cash value that has accumulated in a policy, um, they take out a policy loan and are charged maybe five or six percent simple interest. So simple interest is of course a key word right here. But they're not really removing money from their cash value per se. They're taking a loan out from the insurance company okay. And you don't need to you know, all you do is sign on documents. You're not going through underwriting like what you typically would, um, with a bank. Um, but essentially your cash value is the collateral for that particular loan. Okay. So you're, you're pulling those funds out and you may want to go private money, lend and earn, you know, fifteen percent, uh, flat or annualized or something like that on those funds. So essentially what you're doing is you're being able to arbitrage the difference between the five or six percent simple interest. And then of course, whatever you're earning outside of the policy. Now, the real, you know, interesting piece is that your policy acts as though the funds are still in there. So if you're earning interest in your policy still and receiving dividends, then that acts as though like you still have the funds in there. So it's it's kind of putting your money to work in a couple of different places at the same time. And so it's a very powerful strategy that people can use. Um, and at the same time, you know, the most important piece is that there's a death benefit. So in the event that something does happen to you, your loved ones are, you know, protected with something that can be, um, you know, that is passed along to them upon your death. Your expiration. Well done. Explaining what could be a hard concept. So interesting. Last question on this and then we will move on. I know that you mentioned maybe, you know, three to five years or a lump sum. What's the minimum look like to be able to do something like this? Would you say? You know, it really all depends on how we design the policy. So that's that's a tough question simply because it's going to be based off of death benefit. What what makes sense. You know, what someone is looking to do from a strategy standpoint. So um, that's going to be individualized. And that is one way that you can work with Beth is when you have those types of conversations. And we will have ways to get Ahold of her. Contact her email, Instagram within our show notes. And I love that, thought Beth, in that it is customized because that makes it doable for so many. I think sometimes what prevents people from going down this route of wealth and investment is because we might be fearful that we don't have enough to start as we round out our time together. What would you say? First of all, knowing that wealth is so much more than money, but money being a piece of that. What would you say to somebody that says or is thinking, I don't have anything to get started? I think everybody has something to get started. Okay. And it's just a question of how much, right? And I think that sometimes people feel like, okay, I don't have I don't think I have enough. But let's take a look at, let's take a look at what you're doing. And, you know, one of the exercises that I've done is to go through every single credit card and bank statement and start to, you know, earmark, okay, what is an absolute necessity? And I need to define what necessity is. And what is a total want. Like what do I you know, what have I subscribed to? That I don't use enough that to. To keep subscribing to it or, um, what are these monthly charges that I may have forgotten about. And they keep coming out and I'm, you know, don't pay enough of of time to my credit card statement to say I need to stop this or stop that. I think everybody has money that they can find, so to speak. If, you know, if truth be told, you know, and, and, um, and that's really just taking a good hard look at what are you doing all the time, and where is it that you can be shifting because you want something different, you know, a year from now or three years from now or five years from now, whatever that looks like? I think you just have to get very clear on your goals and, you know, and don't make it complex, you know, that money is going to be there to, you know, to help you, to protect you and to start building assets that can pay you. And in order to do that, I need to just start with something. Even if it were, let's just hypothetically say one hundred dollars a month, you can start with one hundred dollars a month. You can put it into I mean, there's plenty of of online platforms that you can put it into it REIT's. And you know, I mentioned the, the stock slices. Um, there's um, another um, uh, is it so, so hi. So, fi, um, you know, all kinds of ways that you can get started with nominal dollars. Um, but I think the, the key is you just need to start. And again, it goes back to, you know, what is it that you're believing about where you're at in life. And if you believe you're in a certain place, then guess what? Nothing's going to happen. That's why you need to shift that mindset and get it into the right, you know, the right space to say, I can do this and I will do this, and I am doing this. She just wrapped up. We started along that thought process. We got into the meat and then we landed again on what's the next step? It's deciding that you are worth it, and knowing that it is going to be hard. It's going to be difficult to look at some of the ways in which you are spending money. It is going to be difficult to maybe learn and and equate time on your calendar to go learn from YouTube University, as Beth mentioned. And yet choose your heart. Sitting on a couch, not doing anything, moping about how you don't have any wealth is hard. Learning how to build wealth is also hard. Choose your heart. Well done Beth. So educational. I so appreciate it. One of my favorite things about podcasts is wrapping it up on a fun and light note with lightning round questions. And so, Beth, a few words. One word however you see fit. If money could talk, what nickname would it give you? She's the boss man, I love it. Okay. What is one splurge that you will absolutely never feel guilty about. Oh, traveling with my family and just experiences. I. To me experiences are far outweigh buying a new piece of clothing any day of the week. Could not agree more. Top three vacations. If you had to say for experience wise for people to go to, what are your favorite top three that you've done? Uh, Italy's number one. Um, yeah. I'm Italian, so my heritage, just visiting what my daughter calls the motherland. We just so enjoy it. Um, the Caribbean. I can't go wrong in the Caribbean. Um. And I love to. I have yet to get to, but I'd love to get to Australia. That's so great. What is one piece of outdated money or financial or wealth advice that you would like to officially ban? Uh, debt is bad Because debt can. If you use it strategically, it can be a tool for leverage. And it if you use it. Right. And I've I've seen that more and more. Um, just just how to leverage. And that comes from, you know, now being in real estate, seeing the power of of debt and what it can do. But yeah, I mean, I think we're taught to, to believe that. Oh my gosh, you know, you should not have any debt whatsoever. Well, that's not necessarily the case. Um, I think that it, it it's, it's a powerful tool when used the right way. Beautiful. Beth Underhill with investing with Beth and of course her own group as well, lifestyle equities group. If you want to learn more, connect with her in our show notes. Thank you for being so vulnerable in your life experiences that have gotten you to be the success that you are today, and empowering all of us to know that you can start and you can choose your heart today. You are welcome. Thank you so much for having me. I've enjoyed my time and I look forward to hearing from anyone in the audience and seeing how I can help them further. Beth Underhill investing with Beth. Thank you for listening to this week's episode of the Working Moms Redefined podcast. And remember, choosing your hard is a choice that you get to decide. Thank you for listening to the Working Moms Redefined podcast. It is not lost on me that you chose to spend time together. Thank you. Let's connect outside of the space on socials. We'd love for you to follow us on Instagram, Facebook, LinkedIn, Pinterest. We've got it all to connect with you. If you feel as if someone in your life could be impacted by this message, feel free to share it. That is the biggest compliment as we part ways together. Remember, you can do hard things.
