Episode No. 65

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Episode No. 65

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For far too long, the playing field has been tilted in favor of those with power and wealth, leaving many individuals and communities struggling to make ends meet. But there are ways to navigate the system and leverage its resources to build a better future for yourself and your loved ones.❤️

In this episode, Savannah D’Orazio talks about the systemic barriers that have prevented many individuals and communities from achieving financial success. She also shares her insights on how one can overcome these obstacles by acquiring the necessary skills to navigate the system and leverage it to their advantage, ultimately creating a brighter future for oneself and establishing generational wealth for their family.

Savannah D’Orazio aka Sav Works is a financial coach and educator who is passionate about helping individuals and families build wealth and achieve financial freedom. With years of experience in business, Savannah has developed expertise in strategic planning, investing, and more. She believes that financial education is a critical tool for empowering people to take control of their financial futures and achieve their goals. Through the Generational Wealth Works 30 day Wealth Building Jumpstart Program, Savannah and her partner Chris help clients to navigate the complex world of personal finance and support their journey to build generational wealth for themselves and future generations.

So sit back, grab a pen and paper, and join us as we explore how to turn the tables on a system that was built to hold you back.


Key Quotes:

“It’s important to step outside of that fear and outside of those what I think are just like emotional blocks, and really step into understanding, if this is how the system operates, how can I use that to ultimately, still meet my goals.” – Savannah D’Orazio

“Generational wealth is one’s ability to accumulate resources that last them or the people that they care for longer than one generation. It’s about originating and adding value in a way that can sustain you,” – Savannah D’Orazio


Resources mentioned:

The Power of Zero


Connect with Savannah!

Website – http://www.generationalwealthworks.com/

Youtube – / @the_works


Let’s get connected! 

You can find Nicole on LinkedInInstagram, or Facebook. Visit her website https://noirvestholdings.com



[00: 00: 00 – 00: 00: 32]

Until we realize that we are actually in that ocean and that we do need to learn how to swim. Like we can talk about how we don’t like living in the ocean or how, you know, there’s a hole in our boat or all these things that at the end of the day, like you’re gonna sink or you’re gonna swim. So I feel like it’s important to step outside of that fear and outside of those, what I think are just like, emotional blocks and really step into understanding, okay, if this is how the system operates, how can I use that to, ultimately still meet my goal.


[00: 00: 33 – 00: 01: 08]

Welcome to the Share the Wealth Show, where minority professionals can learn to escape the racial wealth gap and catapult themselves into abundance. Your host, Nicole Pendergrass, grew her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy so we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.


[00: 01: 09 – 00: 03: 05]

Welcome everyone back to another episode of the share the wealth show. This is the show where we discuss strategies on how to build, grow and protect minority wealth. And I’m actually super excited about the guests that we’re going to talk to today, Ms. Savannah pronounced your last name. That’s okay. Doratio. Cause I definitely was going to butcher that. So it’s Italian. Yeah. Nice. So. Looking at your profile stuff, I was thinking that your last name was works. And I was like, there’s no way their last name is works. No, it’s our brand. I was like, that really works for the whole branding that you guys were doing. Totally. Okay. But that’s not so works is not your last name. No, no, it’s for our socials. Um, and it’s the brands that we operate under. So it’s kind of an umbrella brand. Um, but, but honestly, and I can dig into that a little bit, but It’s basically, we can, you can be called Nicole works. We call our employees, Elizabeth works, Jack works. It’s just kind of like a thematic. It’s more of like a principle or an understanding of our relation to our jobs and our livelihoods. You know what I mean? Yeah, I love that. And it’s kind of a way to create that cohesiveness of like just environment of the people that you’re working with and, you know, making everything kind of gel together. I kind of like that. I kind of see how I can incorporate that my business name is not as simple, so I need to find something else, because my business name is nor best so like Nicole nor this savannah nor this like that’s just too much works so okay in any case. introduce yourself. Tell everyone what are you doing now? Like, well, I’ll get into some of your past and where you came from, how you got to this point, but kind of just wanna give an overview of like your bio, what you’re doing now, let people know who you are.


[00: 03: 06 – 00: 04: 52]

Sure, so what I do now is I teach people how to build generational wealth. And as I do that, I’m also simultaneously building my own legacy through a business called Casa de la Luna. So I have a startup. that basically focuses on women’s healthcare below the waste. That is still a pre-revenue startup. I’ve been building it for going on two years now and it’s something that has my heart for sure. And basically I balance navigating that company and building that with my more day-to-day activities. And I am a full-time entrepreneur and investor. So I focus mostly on real estate as my preferred asset class. But I also work in the venture-backed space and with a lot of tech companies and that’s a lot of the sphere that I find myself in. Nice, okay. Well, great. Now… with your generational wealth works, right? What is the basis of that and how are you helping people with that? Cause I know like my whole thing is I love, that’s why this is the basis of the show, right? It’s to expose people to all these different types of avenues for building wealth. And now I’m very big on how to keep it and make it last. Generationally beyond like one or two generations, right? Like, how do we make that long term? How do we protect the assets and all that? So I have people from all those different types of like categories on the show to like give people a well-rounded wealth building like clan, you know, or how to build that. So for you, what is generational wealth and how do you help people do that?


[00: 04: 53 – 00: 06: 47]

Great. So I would say for me, the way I define generational wealth is one’s ability to accumulate resources that last them or the people that they look to care for longer than one generation, right? So it’s about originating and adding value in a way that can sustain you. So it’s how can you feed yourself or feed others for a very long time. And in terms of like my relationship to generational wealth, I decided to build this course Chris came into the matrix. He’s my boyfriend as well as a business partner in several of the ventures that we run. And we are both full-time entrepreneurs and investors. And so for us, I spent probably the early years of my, the first like two and a half years of my full-time entrepreneurship, really learning the ropes for the first time. I didn’t have a lot of financial literacy. I came from a family that… I never really learned how to leverage credit from them or, you know, how to navigate my finances. And I would say I was always a very hard worker. So I had a job since I was 14 years old. I was always stacking my cash. I would, you know, I had my first entrepreneurial experience when I was like 15, 16. I was teaching kids how to swim at a local pool. And so I was, I had an entrepreneurial spirit, but I didn’t always like understand the principles of wealth building. And I wanted to step out of that scarcity mindset and a lot of the financial instability that my family experienced. For me, it was really important to like establish myself and my goals. So as I was doing all of this work and like still trading time for money, I said, okay, something’s gotta give. I need to be able to step into passive income. I need to be able to diversify.


[00: 06: 48 – 00: 08: 29]

And I started to research and to learn and to connect with people. And especially when I entered… the venture space and start to understand, okay, what is it like to build a company where you need to raise multiple millions in order to launch? Like what is that experience and process like? And I feel like for me, I have jumped through so many hoops in trying to learn this. And one of the, what I believe it’s one of the biggest acts of generosity that I could do is really to create something that I can continue sharing and dispersing with others. So Chris and I do free events. and we try to teach people at least the basic principles. And I can tell you a little bit about kind of our philosophy around generational wealth in just a moment, but we’ve got this course because we want to really invite people who are serious about like long-term planning and wealth building and also giving back to really transform their relationship to money. So I feel like a lot of, I mean, millennials don’t hold a lot of wealth. We kind of know the numbers there and we don’t have to like. focus or go through that particular, but I just feel like a lot of people in my community never actually got a starting chance at understanding what taxes really are and how to navigate them. Like what is the difference between having, W-2 income versus a capital gains income? What does it mean to, like why should everybody have an LLC? Why are these components of our lives that again, are never caught in school? It doesn’t matter if you went into the best Ivy league schools, chances are you never learned this. So we have people from all different kinds of backgrounds.


[00: 08: 30 – 00: 09: 39]

And I would just say for me, what’s most rewarding about it and why I keep doing it is that I see people go from through their transformation. They go from what I call a zero state to a hero state. And so in that process, they go from feeling insecure or. control over it or that they know exactly what strategy to approach or to take. And a lot of people go into like, they believe, okay, real estate’s important. Let me go buy a single family home. And we have this like running joke where it’s like rich friends. Don’t let their rich friends buy single family homes. So, you know, we, we try to help people understand and compartmentalize. Okay. Well, what are your long-term goals? If they shift, do you know how to actually attack your strategy in a way that will lend itself to. a swifter or maybe easier or less tumultuous experience in that pursuit. Right. And so for me, I get a lot of pushback from people around capitalism and, you know, obsession with money. Like my mom actually was like, Savannah, you’re obsessed with networking. And I’m like, mom, when you call me for a favor, I’m going to go call my network.


[00: 09: 40 – 00: 11: 27]

And it’s hilarious because, you know, I, we also deal with a lot of families and communities and people who their families are immigrants and they come to this country and they come with different notions around you know how do you handle interest like is interest that’s a very like American thing right you know why not to buy a house with all cash you know like there’s all these kinds of like money myths that we carry so I feel like this education is something that lasts for generations and it doesn’t matter who we touch I know I feel so secure that has a ripple effect. So I tend to tell people that my goal is to reach more people than, to serve more people than McDonald’s, right? And I believe I can do that with my venture Casa de la Luna. And what I feel about this generational wealth stuff is that if I teach one parent, they’re likely teaching their kids, their siblings, maybe even their parents, right? And I just love the idea of… family and family offices even really is like a principle. So that’s something that a lot of people don’t talk about or know, but yeah, it’s been a complete joy for me to be able to translate a lot of what I know. So I can get into like a little bit more of our philosophy if that’s helpful, but I’ll pause here unless you have it. Yeah. Okay. Yes. No, I definitely want to hear more about the philosophy like if you have any pillars and things like that, like the most important things, but a couple of things that you said I want to touch on. So you said, one, you said, you show people why everybody should have an LLC. So I’m gonna ask you why should everybody have an LLC. And then two, you also said that people, why people should not pay for a house with all cash. So I’m gonna ask you those two questions so that everyone can hear what your philosophy and answer is to that.


[00: 11: 28 – 00: 12: 34]

Listen, I know you’ve been digging in studying everything you can listening to all the podcasts, reading all the books, even going to meetups. You basically have a degree from YouTube University, right? But you still feel stuck. You don’t know how to actually implement what you’ve learned. You’re nervous about taking the next step. So I’ve decided to start the Micro Family Investing Accelerator. This is a mentorship program where I personally guide you through my five proprietary pillars so you can learn how to buy your first commercial multifamily property and scale while not biting off more than you can chew by focusing on five to 20 units. That’s what I call micro family. And so you can also get hands on guidance from an experienced micro family investor who’s been right where you are. And so you can also create the cash flow needed. to give you freedom and options to build the abundant life that you were destined to live. So I’ll be limiting the first cohort because they’ll have direct access to me and I will be heavily invested in their success. If you’re ready to grab 2023 by the horns, schedule a free discovery call with me today. The link is in the show notes. And now let’s get back to the show.


[00: 12: 35 – 00: 14: 15]

Totally. So we’ll start with you know, utilization opportunity. And I’ve also completely maxed out cards on investments, right? Like I’ve never really been somebody who, I guess, would make like poor financial decisions. However, I have taken extreme risks when it comes to my business, right? And everybody has different risk profiles. So I won’t really jump too much into that, but to return to the all-cash house purchase question, systems work when you… believe in them, right? And when you participate in systems, and I wanna be very clear here when I say that, I am not a huge proponent or supporter of a lot of the current systems in place. I studied education policy and public politics in grad school, and I feel like some of our policies are totally criminal, right? And I don’t think that they always lend themselves to equitable environments. And I think that they definitely disproportionately. and negatively affect communities of color and so on and so forth, right? There’s evidence and data around all of that. And until we realize that we are actually in that ocean and that we do need to learn how to swim, like we can talk about how we don’t like living in the ocean or how, you know, there’s a hole in our boat or all these things that at the end of the day, like you’re gonna sink or you’re gonna swim.


[00: 14: 16 – 00: 15: 45]

So I feel like it’s important to step outside of that fear and outside of those, what I think are just like emotional blocks. and really step into understanding, okay, if this is how the system operates, how can I use that to ultimately still meet my goals? Because I just think it’s like a fallacy to believe that, being wealthy is a bad thing. So when it comes to the house, now I’ll actually answer that right now. In the United States, it is better to, typically better to leverage a mortgage, right? and for you to be able to use what’s called OPM, so other people’s money, and that comes in so many forms, right? That can come through a formal fundraise, if you’re, whether you’re opening a fund or you have a formal SEC offering, and that could come from hard money, that could come from an informal loan from your family, that could come from a credit line, it could come from anything, but the point is that you are able to shift from a mindset of, let me… purchase all this and work on my own to, okay, how can I leverage other opportunities or build in this system in a way that can actually bring me more or allows me to do more with my time? I mean, I never thought, I never came from a family that I never even knew people who bought brand new cars.


[00: 15: 46 – 00: 16: 59]

During the pandemic, it was actually a smarter financial investment for me to buy a brand new car than to buy a used car. not only were the interest rates way better on new cars, but I also actually got a lower rate on a new car than I would have gotten that same exact model two years earlier. And there was a shortage of cars. I mean, I don’t know, I won’t go too specific into it, but the point is like, I had to step out of what I had been told my whole life, which is don’t ever buy a new car, right? It’s a hugely depreciating asset. It’s not, you know what I mean? Like there’s all these kinds of like. It’s not like probably it’s very distinct from real estate and how, you know, real estate is amazing, mostly because of taxes. But I had to shift my mindset completely and really understand, okay, why does this investment decision make sense? Because I’m renting my car because I’m putting it on trial because the miles that I drive, the businesses that I own, all these things, like it actually made more sense for me to make that financial decision. So. We have to understand if there are people doing this, how and why. So when we come to the LLC question, I would say this is important for everyone because most people don’t really look at taxes as a roadmap or strategy. That is just the government trying to incentivize us to spend our dollars in particular ways.


[00: 17: 00 – 00: 18: 41]

So instead of feeling super burdened by taxes and or upset about it. And I’m not saying, cause like, listen, I get upset paying taxes too. It’s not like whatever. Yeah, right. I read this amazing book and it was about the 0% tax bracket and it basically walks through how people navigate their tax brackets and how they strategize a year in advance for the upcoming year. And when I started to learn things like that, it totally transformed. the way I approach my lifestyle. So when you have an LLC, you are able to leverage your lifestyle differently. High income earners at a certain point, they tend to shift their income strategies and they start to disperse their income even amongst their family members, right? And so like as we think about generational wealth and how do you actually pay your kids? What do you do with the money that you pay your kids? Do you actually put in a bank account for them? Do you hand it over in a check? Do you put it in a trust, right? Like there’s all these things and it’s really the secrets of the wealthy. But I’ve never met a wealthy person I haven’t or had a mentor who’s, you know, generational wealth path I admire that has not had multiple LLCs. And so when people, first, I think just like taking that leap and actually having that, having that in your own name is very powerful. You can get loans in that business. You can… use it to protect yourself, even if you’ve got a side hustle, you can, you know, do so many things with it.


[00: 18: 42 – 00: 20: 09]

And the purpose behind LLCs was really to protect the individual. You get to get taxed like a sole proprietor, but you have the, again, limited liability, right? It’s a distinct type of corporation. And our neighbors don’t always have that side. There’s no such thing as an LLC in Canada, right? So it’s like, why is that specific structure that works in the United States? And so tax profiles, if you think about, okay, how can I really do x, y or z, it tends to be helpful to have that structure and that actual business in place to operate out of and from. Yeah. Oh my goodness. There’s so much, so much there. So wait, if someone does not, most people don’t have business, don’t have, don’t even have a side hustle, right? They’re, they’re stuck in the. Go to W2, go to your job, come home, handle life, or do anything to kind of deflect from what’s happening and paying bills and working and being just an adult, right? A lot of people will think of the LLC as a burden or something else like that they have to do that they, so not everybody is entrepreneurial or wants to do their own thing, but could still benefit from the, the different parts of an LLC and having that LLC.


[00: 20: 10 – 00: 21: 31]

So what can someone do or can someone have an LLC? Like how can they have a business when that’s not their profile, right? Of what they wanna do or is that just something if that’s not in their blood and DNA, they’re nothing they’re interested in, then the LLC idea is probably not for them. Okay, interesting. What do you think about that? Yeah, so this is a great question. I want, I want, this is my- I think every single person needs one. And I want to be very clear, entrepreneurship is not for everybody. It is not, it is not for the faint of heart. Business ownership, however, I think should be looked at a little bit different. The way I classify entrepreneurs, it’s more like, are you going out there and you’re building something completely new to solve a problem? Versus, do you own a business? Are you using an entity to generate revenue for yourself? is also protecting you and giving you a benefit within our system. So if you live in the United States and whether or not you decide to have your side house or whatever, I recommend always having an LLC because at any point in your lifetime, you might decide, okay, I have got this LLC that is sitting here, right? And like, again, if you’re not making money out of that, like you don’t even have to report taxes on it in the first few years. So it’s like, it’s not harming you. You can still leverage that later. You can still use that in the case that you do.


[00: 21: 32 – 00: 23: 29]

So what are some examples of things that you can do for people who have diversified income? If you want to step outside of just having W-2 income, which I think is very risky to only have that type of income. And the reason being is that when we talk about, even when we talk about like taxing the rich, we’re really talking about income tax. We’re focused on the money that… is rewarded and directly given to you as an individual. And that’s like, you’re receiving that as the person that you are versus being able to offset costs and benefit from deductions related to even lifestyle expenses, right? So you’ll find that people who are full-time entrepreneurs or full-time investors, like a lot of their lifestyle things, whether that’s their car, whether that’s their extra office, it’s their anything, really are hidden and protected in that structure. And I think that those things are really important. And I feel like one of the most radical things that we can really do as people of color, as minorities, as people who don’t historically hold the wealth in this country is really to take action and to leverage those things and to build in that space. And again, it doesn’t have to look like, oh, you’re a big time entrepreneur and you’ve got this full time running business. It could be something really, really simple. you know, content creation has been a really big thing. I know people who are, you know, making reels and they don’t have, you know, they’ve got their full-time jobs or maybe they’re nurses or whatever, but what is the entity that’s protecting you from that? How are you actually funneling that money? How can you write off some of the expenses that you have, whether that’s your cell phone or that’s anything else? So again, I think it’s something that helps you long-term and is ultimately something that like, even people who are not big-time business owners, should consider for themselves.


[00: 23: 30 – 00: 24: 42]

Yeah, I completely agree. There’s so much even to dig into that. But is that something that you guys cover in your wealth building course? Because the first thing that comes to mind for me is how does somebody know for them? Because there’s so much information out there, right? If you just go just on social media, all the different reels, everyone has a different opinion on how you should do something, escort versus LLC and writing off the business and all these other things. It’s just like information overload and people just get confused as to what to do next. So at least for their personal situation, because everything is… personal individualized, my first thought goes to like a tax strategist who’s like really good and can, you know, lay out like what you’re doing, what you want to do, some options maybe to like help with the tax code and making sure that you’re doing things, you know, appropriately and what entity to have and you know, how to funnel the money and all that kind of stuff and not funnel the money when I say, I don’t know when I said that it sounded like that like you’re trying to hide money, but fun like there’s ways to do it appropriately and do your bookkeeping and all that stuff. But so I think tax like a tax strategist is key, but then also there are sources from people who lay this information out. So yeah, that was a long-winded question about like whether what you cover in your wealth building course.


[00: 24: 43 – 00: 26: 37]

Yeah, so I’ll jump into what the structure is and then talk a little bit about some stuff you’ve said. So in terms of It’s really, what we call it is a 30-day wealth building jumpstart. So it’s a one-month program. It really extends a little bit beyond that, but I’ll explain that. So basically it’s four classes and it’s the same day and time every week. So it’s a once a week thing. And the very first class is on mindset and planning. So we talk about those money myths that I was mentioning earlier. We dig into, okay, what is your schedule like? How do we do an audit of the time that you spend? We give people what’s called a destination analysis. So we help walk. people through not, hey, here’s a roadmap. It’s, hey, here are some guiding questions for you to determine what your goals are. And as you continue throughout this class, you will continue to answer questions about yourself that will help you identify the best roadmap for you. So the next three classes are just high level approaches to what we consider like the three most important pieces of building generational wealth. So that’s owning real estate, funds and taxes. So I talk about stocks and, you know, kind of, I don’t really teach people how to evaluate them. I’m more focused on why this is important, what digital revolution is going on right now and why the buzzword of crypto and these other things are relevant to our lives. And then the last one is on building a business. And what I focus on there actually is finding things within your passions and within your interest and or within your familiarity that you can quickly utilize to help you grow or build, right? So being creative about shifting to an investor mindset and then the other piece is AI.


[00: 26: 38 – 00: 27: 56]

So I do some free AI trainings. You know- I was gonna ask you about this because I saw it on your profile. Yeah, yeah. A lot of people have different perspectives on this. And listen, like we’re very social. Like I, we go out to, you know, a baseball game for the kids at West 50th will be talking to somebody on the subway. Like we’re super social people. And so I’ve run into some people that are very fearful of AI, and they’re not very comfortable with how we as a society are transitioning. I use chat GPT on a daily basis. My team, I ask my team to leverage artificial intelligence tools all the time. Artificial intelligence is like such a large umbrella. And we’ve been using AI for years and You know, that concept, you know, now we’re moving into a different set of tools that are much more accessible to people. And so I think that they’re that causes fear and causes insecurity. And I do think that a lot of limitations will continue to be put on them. But I think it’s again, one of the most radical things we can do, especially as people of color, to ensure that we are not getting left behind, that we are taking action on the things and the tools at our disposal. And right now we have an opportunity to close the wealth gap in a way that. I don’t think we were positioned to years ago. And I think, you know, what are we doing if not? And I do feel too that some of the best and brightest entrepreneurs that I’ve met are people who are solving problems that are related directly to their livelihoods or the experiences that they’ve had.


[00: 27: 57 – 00: 29: 23]

So a lot of those people, especially when people from the Bronx, from, you know, inner city Chicago, from, you know. I’ll be like, Hi, Leah in Florida and like just, you know, more from like urban communities that are more disenfranchised. I think they have some of the coolest, most radical ways to solve problems for people. And I think that that’s beautiful. So if we do not step into this authentically, if we’re not learning to navigate our finances and builds like right now, and I should tell you this. So I have like three LLCs. I have a Delaware C corporation. I have various business entities and they all serve different purposes. Like I mentioned earlier before we really started the recording, man, I was all over the place. I have a lot of businesses. Now I’m transitioning to focusing more. I’ve been very interested in building a potential real estate fund. So maybe that’s a quick drop right there that we don’t have to get into too much. But anyway, back to the course. Basically- We can talk about that later because that’s something I’ve been thinking about for a long time. Oh, great. Yeah. increasing access and opportunity to people who don’t have a 50k minimum investment, right? So, okay. So yeah, we’ll definitely talk about that. But yeah, this is something that I wanted to ask you about. So there’s a few things I want to ask you. I just got to make sure I remember all of them. That’s okay.


[00: 29: 24 – 00: 31: 12]

But I know that we were just, we were talking about Chat GPT, but then talking about like opportunities like that. Yes. And with the course, I know you had saving a few hours a day using utilizing chat GPT. So I have chat GPT. I do not feel like I’ve been using it to its optimal potential to really benefit, my life and operations. I’m so busy, but to save a few hours a day would save me. It would really help and put that also like coupled with my VA and like other system. So all those things would just be super helpful. What’s the tip or the tricks or what are you doing with chat? TBT that is helping to save time on your daily activities. Yeah. I love this. Okay. This is great. And also, and those trainings are free. That’s why I like again, listen, I’m going to make it every one day. Send me the link so we can put that in the show note. I’m going to put the whole, the link to the book, um, the 0% tax bracket, totally. I think this is the one, is this the one with the red cover? Um, the one that I had was, uh, a yellow cover, but I think it is the same. Who’s the author? Cause like it’s so tiny. I can’t see it. Do Duval Day. Okay. It’s not that person, but I’m sure that one sounds good too. The it’s, it’s the power of zero, but David McKnight. That’s the one. Power of zero. Okay. The power of zero by David McKnight, everyone. You’ll get that book. So I’ll have the link to in, in the show notes and I’ll have the link to your chat GPT and to your welcome to. Or it’s into everything. Okay. Awesome. No, that’s okay. So let’s jump into it.


[00: 31: 13 – 00: 32: 10]

So, you know, it’s so crazy. I, so in the last AI training that I did, um, I asked people, cause it’s very informal, it’s really casual the way I’m doing it right now, eventually I’m going to make a prerecorded evergreen kind of thing, but with chat GPT and with AI in general, so many things changed. So it’s one of those things I’m going to have to keep kind of, but the point is. Um, in that, in that. webinar, I asked the crowd, I said, Hey, listen, like, how well do you feel like you know, you know, understand and or navigate AI from one to five. And most of the people in the room, and I thought they were going to say maybe like two or three, most of them are saying four or five, which was awesome. So what was the indicating like, what was the lead indicator for me? People who are in it again, it says clearly AI for beginners, right? And so it was amazing because if all these people are coming and they’re saying, hey, we know quite a bit, we were having very dynamic conversations. And so for me, it’s like, all right, obviously this wasn’t something that caught the attention of people who are completely brand new and haven’t either heard of it or are not using it, right?


[00: 32: 11 – 00: 33: 38]

Number two, of those people, what I think was the common theme was that, and this is why I’m bringing it up, one of the skills that is gonna be very important moving forward is, knowing how to prompt these machines. So the algorithms work when you, their systems or codes or equations essentially, where you put an input into them and they’re gonna spit an output to you. So if your input is erroneous or isn’t aligned with what you’re expecting the output to be, then there’s going to be a difficulty actually. building what you need. So you have to be able to tell it very specifically. Use, you know, create an A-B split test for what, so like using experts is still gonna be very important. Like if I’m a doctor and I know the language and the lingo or, you know, the specific questions or ways to prompt chat, like Savannah is not gonna know the same things that Bill knows, right? Like I’m not the lead marketer on our team. So when it comes to. using a specific marketing prompt. So let’s say like, um, and I can, I can definitely send you a list of some of these cause I like when I find them on LinkedIn, I’m saving them. Nice. I definitely will. Yes. That would be yes. Yes.


[00: 33: 39 – 00: 34: 48]

It’s about like, can you tell it specifically, create this based off of this framework or this theory, or maybe you can even say things like use this kind of tone, make the reader feel this. Right. So whether it’s copy on. Instagram posts or websites or anything like that. We definitely use it. Is it foolproof? Absolutely not. We typically, you know, we’ll try and use it and sometimes we’ll be like, oh my God, this like totally didn’t work and we’ve got to make it ourselves, right? And what’s kind of funny too is that I made a lot of the course materials before a lot of these things are like publicly accessible and available or that I was aware of them. And so now I’m going back and I’m enhancing them. And so there’s this question One of the women who works with us, she says, at my job, it’s still a little bit taboo. And I don’t think she’ll mind me sharing this, but she said, they think it’s cheating to use Chat GPT. And it’s a private company. It’s not like, if you go to the DOE, the DOE has that blocked completely. I couldn’t even show kids in school what it was. Anyway, so neither here nor there.


[00: 34: 49 – 00: 36: 00]

The point is, I do think it’s important for us to build on these skills and tools. In the class, I do help. I help. encourage people to stay ahead of technology. And the reason being that Even if you’re not using it day to day, like my, my parents are like, they’re not even super comfortable like texting and typing and doing a whole bunch of stuff, right. And I, yeah, I grew up a little bit spoiled because my little sister was the techie. So when it comes to like setting up a TV or a printer, I was always busy with my grandma is that my grandma’s over here asking me to set up the TV. And I was like, hold on, hold on. I don’t know. Let me call my sister. And so. I said, we always, just as like a principal, we should always stay ahead of things. And even though it’s not for everyone, not everybody realistically needs to use Chat GPT on a daily basis. However, there are a lot of ways that you can use the tool honestly to save you time and money and also to just ease your experience. So whether it’s like writing a note to your daughter’s teacher about her arm, right? Or if it’s about any of the things that you’re experiencing, it just can, again, instantaneously create things for you that are just… easier, you know, and I think why not lean into it.


[00: 36: 01 – 00: 37: 26]

So the prompting is the most important skill to learn. Yeah, and definitely I was actually just talking about this to a group of friends yesterday. And one of them is a teacher we’ve been, well, yeah, she is kind of in a different role, but we’re encouraging her to start her own like homeschooling cohort and you know, she can make great salary and then just. work with, you know, four or five students. But then we were just talking about all these other things and we’re talking about, she was talking about like, one thing that she would do is showing students how to use chat GPT. Cause you would think that that’s like, there’s a big thing about like cheating or using that to write your papers and all this other stuff. But that’s when we were talking about the prompts as well. Like how important it is for you to have the right input or you have to have some certain knowledge already to be able to give the chat GBT the. correct input to get the output that you’re expecting. And even when you look at it, she was like, okay, then I would be like, okay, let’s have the chat GPT, the AI do XYZ, and then you see the output. And now how do you analyze that? How do you look at that critically? How do you make sure that that’s still correct? How do you change it and alter? So I think it’s gonna be something that… Yes, are some kids going to use it a little bit more heavily on doing their work for them? Probably. They’ll probably be, the schools will come out with something to figure out, to see if a paper sounds like it was written by AI versus, you know, by a person or kind of whatever they use to figure that out.

[00: 37: 27 – 00: 39: 16]

But I know for me at least, sometimes I work better. No, not sometimes. A lot of times I work better. If I have something to look at and I can edit that, and that’s like a prompt for me, and now it gets my brain thinking, okay, like, no, not really that. I wanna say more like this, and I can try and change it around. So I work better off of like interaction and conversation. And I guess even if that conversation is with AI, like it’s giving me something to now I have feedback to work with. Instead of coming up with something completely from a blank slate, it takes more effort. Like you’re saying, it just, this is easier. Like not that you won’t have to do anything, but it’s easier to get started and at least get the ball rolling. And even if you don’t use it to write the whole thing, like you use it to start that thought process and get the wheels rolling, which I’ve used it minimally for like the blogs that I’m putting out on my real estate website. And we’ll put in the prompt or the title that I wanna talk about. And then along with some other internet research and knowledge I already know. then we create, but it helps give the framework to like tweak from instead of just write everything from scratch. Of course. I wanted to bring up two important points here because as you were speaking and sharing, which thank you by the way, cause like, it’s still like a little taboo. I think not everybody would candidly share what you’re sharing. And I don’t think any part of this is wrong. And I want to be clear. I feel like. People, I feel like anybody listening to this is going to know, people can still pretty much sniff out if they’re talking to a bot online or if they’re talking to a human, would you agree? Yes.


[00: 39: 17 – 00: 41: 03]

So let’s like, if we start from that like grounded point right there, we have to understand and step back for a moment. Our grandparents, right? Having information at our fingertips was completely foreign to them. So I’m, I am technically like second generation non-farmers, right? So like my grandparents on both sides come from like very rural places. They did not have formal education. Like my mom’s parents, they literally like, they didn’t even make it to middle school or beyond. So these are people who worked, they owned businesses, they did a lot of things. So skills were very important when it came to technology and advancements. Like ultimately you have to understand that like the world is changing so rapidly and what it looked like even 10 years ago, 20 years or 30 years, like we couldn’t fathom, right? Like my grandparents, listen, I went to a prestigious university. If I went and looked them in the eyes and I was like, oh yes, I go to Columbia. I went to, like that would mean nothing to them, like blank face. Like it would be like, okay, yeah, anyway, you know, so it’s like, context, it’s your world. It’s like, what are you really leading to? What skills or tools do you need on a day-to-day basis? So some people are going to need this more, others are not. Will it change, I think, human relationship to work? But I don’t think it’s something that we need to be afraid of. I think we need to lean into utilizing tools. AI in particular, and I want to just give this little caveat, AI is incredibly powerful, especially in the way that these tools are used. And I think that’s what, you know, that’s why we’re seeing all these like big tech people saying, you know, signing, saying, like, I’m sorry to laugh. It’s like, I don’t mean to be rude, but it’s kind of because it’s, you know, They’re realizing that the tools that they are, they’re putting out, they like you’re in the control, but you know, we’re, we’re also seeing some people leaving school and building multimillion dollar companies very quickly.


[00: 41: 04 – 00: 42: 46]

And again, it’s not for everybody, but I do think that if we close the door on that opportunity, or we don’t warm up to the idea, we, we disallow ourselves an amazing opportunity to build and understand the world differently and even have a different relationship to work. And I don’t think there’s anything wrong with that. You know, like look at how much Google has changed, right? And that’s just how much has changed since you’ve been using the internet. Like, you know, so anyway, I just think again, it’s moving faster and faster and faster and it’s gonna be a little hard to keep up. And I don’t know, I just think for the audience of this podcast, everybody should be using it. Do not be afraid, come to my website. You know? Yeah, and that’s a great point. Cause even Google, cause most people like having, you know, things automated or their passwords remembers, so you don’t have to remember each time, or things connected like this app connected to this app or whatever so that everything is seamless because it makes it easier for them. And I don’t think people just putting it together that is AI doing that, right? Like Google’s been using AI and following our footsteps. And some people, yes, they do realize that, but like now that it’s kind of like, oh, I can do the inputs myself. Now it’s like, Red flag, this AI is taking over, but AI has been taking over. You just didn’t have access to it because it was bigger companies. Okay, one question popped up into my head that I’m like, hmm, how can we use, can we use AI to help us in our wealth building or generational plan in our journey? Of course. How can we do that?

[00: 42: 47 – 00: 43: 19]

Okay guys, don’t kill me, but I’m gonna have to cut this episode short. This is too juicy and we need to do this in a part two. So stay tuned for the next episode that airs and you can hear the rest of our conversation. Did you love this episode of Share the Wealth Show? Be sure to connect with Nicole by following her on LinkedIn, Instagram or Facebook. If you picked up any of the gems that were dropped by today’s guests, make sure you not only put them in your bag, but if you know of someone who would benefit from this information, don’t keep it to yourself. Share the Wealth and make sure to leave us a rating and review. We’ll see you for next week’s episode. Subscribe so you’ll be notified.

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Nicole Pendergrass