The Dr. Will Show Podcast podcast

Ray'Chel Wilson, CFEI - The Goal Is Financial Freedom

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Ray'Chel Wilson is an educator turned entrepreneur who was recently recognized as the 2024 U.S. Small Business Administration Young Entrepreneur of the Year for the state of Oklahoma. As a Teach for America alumna, the challenges faced by Ray'Chel's scholars inspired her to become a Certified Financial Education Instructor and author the "Black Wealth Freedom" series. Having sold nearly 2000 copies of the series in 7 different countries, she now serves as CEO of the upcoming "ForOurLastNames" app - removing the barrier of financial trauma from wealth building. As a Duke Master’s level student, Ray'Chel researches the value of stewardship and its impacts on personal finance & economic engagement. Ray’Chel’s multi-industry background positions her to share her keynote “The Pace of Productivity” and financial wellness workshops for corporate and nonprofit audiences. Ray’Chel is passionate about providing marginalized communities with financial knowledge, empowerment, and resilience. Why? To build generational wealth, for our last names. 

Sign up for the  ForOurLastNames waitlist at www.ForOurLastNames.io! Launching September 2024.

Access the internationally selling Black Wealth freedom 3-part workbook series at www.RTBInvestments.org
 

Want Ray’Chel to speak to your team on personal finance, entrepreneurial thinking, or change management? Email [email protected]

 

Takeaways

  • Financial literacy is important because it helps individuals understand their relationship with money and the rules of that relationship.
  • Investing is a critical component of building wealth because it allows money to grow at a faster rate than saving alone.
  • Diversification is key in investing to mitigate risk and maximize returns.
  • Overcoming the fear of market fluctuations requires developing a healthy mindset and healing from financial trauma.
  • Financial trauma can impact our relationship with money and our ability to make sound financial decisions. Developing a healthy mindset around money is crucial for financial freedom.
  • Integrating financial literacy into the classroom can be done by incorporating career discussions and comparing salaries and cost of living in different cities.
  • Starting a business as an educator can be done gradually, using your job as your first investor.
  • Prototyping and testing your business ideas with a target market can lead to a successful launch.
  • The Four Our Last Names app offers money mindset meditations and connects users with trustworthy financial professionals.
  • Financial liberation should be prioritized over personal financial freedom, and investing in communities is essential for collective liberation.

Chapters

00:00 Introduction and Excitement for the Guest

02:00 Ray'Chel Wilson's Journey from Educator to Entrepreneur

02:58 Becoming a Teacher and the Importance of Relationships

05:17 Ray'Chel's Personal Finance Journey and Student Impact

08:27 The Importance of Financial Literacy and Personal Finance

09:54 Why Financial Literacy is Crucial in Today's World

13:01 Investing as a Pillar of Building Wealth

15:27 The Importance of Financial Planning and Sharing Wealth Journey

19:11 Investing for Everyone and Mistakes to Avoid

20:25 Why Investing is Critical for Building Wealth

23:12 Overcoming the Fear of Market Fluctuations

25:00 Healing from Financial Trauma for a Healthy Relationship with Money

26:54 Developing a Healthy Mindset for Financial Freedom

29:10 Transitioning from Educator to Entrepreneur

33:32 Integrating Financial Literacy into the Classroom

38:47 The Journey of Creating the Four Our Last Names App

48:27 Financial Liberation and Investing in Communities

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