Episode 5 – Yes, I Do Work With White People

I get this question a lot! I’ll never stop talking about how I help LGBT/bipoc folks built wealth because that language has been absent forever in the finance space, but about half my clients are white! I am latinx, but I, too, am white!  If you are white, it’s important to acknowledge white privilege, move past the guilt, and do something about it to help yourself and others.

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Episode 5 – Yes, I Do Work With White People

Podcast Transcript Below

Hello everybody. Welcome to the Unicorn Millionaire Podcast. I’m your host, Charly Stoever. I’m a non-binary Latinx money coach, helping my first gen clients become millionaires. I’m a formerly undocumented Mexican American and currently digital nomad traveling all over the world. Super excited to have you here along with me on my journey.

I talk about personal finance, money, mindset, twerking, unicorns, rainbows, you name it. We’re here, we’re queer, and we are going to build wealth for ourselves and our communities.

Okay, so I’m laughing right now, because I never in my wildest dreams would have imagined that I would want to record an episode, titled Yes, I Do Work with White People. It’s just so funny to me. Because for so many reasons, I mean, I’m white. And I think it makes people like uncomfortable sometimes that I just talked about it so openly, but I don’t mind. I mean, I’m literally one of the most privileged members of society, even though I’m queer as fuck, like I have white privilege.

So it’s important to acknowledge that. But I’m also Latinx, you can be Latinx and be mestizo, you can be LatinX and be white, you can be Latinx, and be black. So that’s that on that. And I think that my presence online, really just highlights that people have this conception that I’m a person of color, but I don’t identify as that because I have white privilege. I’m not scared of the cops ever. When I walk down the street, I’m never scared of being pulled over. I’m never scared for being racially profiled. So I have that privilege.

But it is interesting. I do want to say that. I think that because I talk explicitly about helping BIPOC folks build wealth in my experience as a Latinx immigrant who is undocumented before, there’s some lurkers on there online, on Instagram and on my mailing list, who are white and who’ve been following me for a while and who’ve been wanting to work with me. But they assume that I don’t work with white people.

And I just signed a client a couple of months ago who had been following me for a year and had a bunch of money that they wanted to invest. And then we started working together. But I remember one of the first things they asked me was, hey, do you work with white people? Like, yes, I do.

And then I posted a reel which my white Mexican cousin helped me film. It starts with her saying in her Mexican accent, but in English, Hey, Charly, do work with white people. And then she helped me shoot that she came up with the idea of me opening these doors and me saying, Yes, I’m coming out of the closet again. I too, am white. And some of y’all have DM me being like that video cracks me up. But interestingly enough, today, I had a sales call with another white person. Mind you all the white people that have worked with me have been queer as well. It’s not to say that I don’t work with straight people either. But that’s just how it’s been going so far.

I’m open to new clients. I don’t discriminate like that. I have a problem that I’m trying to help people solve in the marketplace. And I serve value. And people want to work with me of all different races and identities. That’s fine. So yeah, I spoke and signed this client today, who’s queer and white. And she was also nervous about working with me. She was like, I don’t know if I’m your ideal client. And I was like, yeah, just based off of your intake form, which I have potential clients fill out before having a free 45 minute sales call with me to see if the program is right for you. I was like, yes, you’re my ideal client, you have a bunch of money that you’ve saved, that’s been losing value to inflation. You’ve been following me for a year, you know how I roll. You know, you can trust me with your money, because I talk about it all out here on these interwebs.

And then, when she hopped on the sales call with me, she still had this misconception, this anxiety that she still wasn’t my ideal client. So I’m sure there’s other people out there listening. If this resonates, you are not alone. But I wanted to blow this objection up like dynamite that yes, I do work with white people. And I had to reassure her even on the sales call that yes, you’re my ideal client. You have a bunch of money that’s been sitting there. You’re investing a little bit it but you don’t know how to maximize credit card rewards or really make your money work for you in the stock market, but also have a social impact.  And that’s my ideal client.

I love helping people of all races and identities. With these things, especially if you’re first gen and you haven’t been taught these things by your family. It just doesn’t make sense for somebody who has no money trauma, has their money mindset on lock has investments right and left and is giving back to their community to really work with me. Those are not my ideal clients. My ideal clients want help with their money mindset want help with maximizing credit card rewards, want help with understanding the different investment vehicles out there, to make their money, grow passively for them and grow itself for decades, and also want to give back to their communities.

 And step one hiring me that’s a social impact investment because I’m a queer Latinx owned business, and I’m purely funded by myself, I don’t have white men and venture capital money funding me and I don’t follow anybody else’s terms, except myself. So that’s something to be aware of, if you’re interested in working with me.

But it is important to acknowledge your privilege, which I’ve also done on my podcast, I’ve also acknowledged my privilege, even though I’m a queer, non-binary Latinx, formerly undocumented person, I also have had privilege because I’ve also inherited money when one of my relatives died. I inherited $20,000 Out of nowhere. But I use that shit, I invested it. And that helped me start my own business. That’s a social impact business where I can hop on lives,  and serve value day in and day out for free to people following me on this podcast, or if you’re on my mailing list, and I have three free master classes on my website at Traveler Charly, I just serve so much value all over the place.

So it’s important to acknowledge our privilege, but not just be stuck and feeling guilty about it. Like if you’re white and have a bunch of money just sitting there to inflation, you’re not doing the world any good by just letting it sit there and feeling guilty about it.

So I want you to let that sink in. If you have a bunch of money, that’s just sitting there 10s and 10s of 1000s of dollars that’s just sitting there, you could be using that money to invest not only in the stock market, but also in your own community and forms of mutual aid, or donate to causes that you care about or starting your own social impact business, there’s just so many ways that you could be using that money for good instead of just having cash that there to inflation, which is at about 8% right now.

So I just wanted to name that we can acknowledge our privilege, but then we got to move the fuck on and help ourselves and then help others. And this client that I signed today to she was after we started talking and everything and I just normalized that she, she should definitely be investing. She also wants to give back to charities like Planned Parenthood. And I said, Great, if you have money extra to invest, you can even open a charitable investment account.

Rich ass people open charitable investment accounts, because they want to give back but also because they get a write off, they get a write off by donating stocks to a charity fund. And that money can sit there and their charity fund, you don’t have to take it out. It’s not like a retirement account with like that you have to start taking money out when you’re 72. Like that money in the charity account can stay there and you can invest that ish for decades.

About a year ago, I was a grad school student, but I started my business, my money coaching business. And after I hired my Latina business coach, social impact investment example right there. I went from making $100 months to $7,500 months. So I was all of a sudden in this mindset of Oh, money is abundant. Money is flowing to me and I want to give back.

So I opened a charitable investment account while in grad school and invested like $400. And that money still sitting there, it’s not doing too hot because the stock market’s down. But I’m gonna have that money sit there and grow and grow and grow. And then when I decide to sell the stock and take the money out, I can do that and donate it to a cause that I care about. So there’s lots of different investment account types that I become familiar with as I worked as a stockbroker.

In the client that I signed today, she’s on the road to maxing out her Roth IRA. There’s a limit of $6,000 a year and that you should definitely be investing in not just having that in cash, you should definitely be investing it, especially if you’re young, you have so much time on your side to be investing that, but it doesn’t stop there.

Once you maximize the Roth IRA account, there’s other accounts, like a brokerage account that you can invest money and that doesn’t have any limits to it. And I’m actually going to be doing a brokerage account investing masterclass, tomorrow, Wednesday, the 13th, at 1pm eastern, you can sign up for that, I’ll put the link, depending on if I publish this podcast today in the show notes, or I’ll have the recording up. By the time this podcast goes live, if you’re watching it live the links in my bio, sign up for that it’s going to be a money party. And yeah, I’m excited to see you in that class to just start normalizing talking and hearing about investments in a group setting as well. So don’t miss out.

If you’ve thought about signing up, sign up for the class, you’ll have access to the recording as many times as you want. And then feel free to book an intro call to work one on one with me to a bunch of folks have had book sales calls with me and sign up for the masterclass too. So that’s really exciting. People are seeing that stock markets down and there’s a recession going on. But instead of being afraid and letting that stop us people are jumping in on this sale and wanting to learn and invest. And so that’s something that’s, that’s exciting.

What else do I have in my notes here? Yeah, and I just want to mention, just because you’re white doesn’t mean you’re immune to mindset coaching or that you don’t need it. I have served white clients who grew up with somewhat privilege. But pretty much every client I’ve worked with, who was raised with a scarcity mindset where conversations around money were negative, stressful, anxious, or they revolved around scarcity. So that’s something that I do with my clients on our second session after we do our net worth party. Second session, we go through mindset, I want to hear about your childhood, I want to hear about how your parents talked about money in front of you, or with each other, because you absorb the way that your parents or primary caretakers, whoever raised you talked about money or felt about money.

And until you’ve reprogrammed yourself, you’re gonna be walking around on this earth for decades with that same programming. So that’s what I do with all my clients, I don’t care if they’re Latinx, black or white. If that’s something that’s beneficial, because you can do their mindset work for the rest of your life. When I’ve had $0 months, in my business, I definitely have had to use the mind work mindset work on myself, to create that sense of safety for myself, and to continue to have fun, because that’s what at the end of the day, my work is really all about creating safety for ourselves, and having fun, how can we stop being afraid of money and make it our bitch and enjoy life, because we’re all gonna die one day life is short. So might as well have fun and not let money scare you as much.

And right now recession, stock market dips can be triggering as fuck for people, especially if you don’t understand how the stock market works. But once you see that this shit is cyclical, and the stock market’s gonna go up and continue to crash. And the rich people always take advantage when the stock market dips, and crashes. And when it’s poppin, that’s when wealthiest people or myself, we’re selling our stock. And then using market fluctuations to our advantage. So that’s something that I help all my clients. So yeah.

Another thing that I wanted to add that I’ve heard, my white clients tell me at first before they start working with me is that they’re afraid that they’re taking space away from other clients. And you’re not. If I’m ever at full capacity, I’ll just shut down my one on one coaching, because I won’t be doing this forever. Because once I have enough demand, I’ll just offer a group masterclass. So I’m taking clients, I’m very selective about my clients. My clients are selective about me, I’m not swamped with clients because I have a very selective process, I want to get to know you and see if we’re the right fit, and vice versa. So I don’t want you to worry about taking space away from other clients.

And that reminds me that kind of feeds into my savior complex that I’ve had to get coached on and checked to. Because this kind of makes me feel like oh yeah, I don’t want you to take away hypothetically this, this would assume that yeah, I don’t want you to take space away from other clients because I’m the only person on the planet that can help them. And that’s false.

But as a first gen, immigrants society has programmed us to have that subconscious savior complex, where we feel like we’re pretty privileged to be the first to go to college, or get the high paying job, and that we have to save our community and bring our community with us. That’s also a narrative that I was fed when I worked in the nonprofit sector, which is one of the most exploitative sectors working in nonprofit because instead of paying you, they compensate you with guilt, and saying, Oh, you have privilege, you need to give back to these people. And that’s a form of compensation that’s not sustainable. And it leads to a lot of burnouts.

I was out here making like $10k, doing City Year in America, our program in San Antonio. And they, instead of paying us more, they would literally take us to what was it state services, and tell us you’re not making enough money, you qualify for food stamps, so they would take us and have us apply for food stamps, instead of just paying more money. And there are a lot of people that quit, because we’re working 10 hour days, right out of college, there was not a lot of support. I wanted to quit, but they kept me sucked me in for the whole 10 months, even though it was miserable.

And when I was miserable, definitely the students were noticing that but I was just told to stick it out and think about the kids. And basically fed into my the guilt. And that first gen savior complex, they were just like blowing up my ego in that way while I was being burnt out. So I realized through business coaching that I’m receiving that I had this savior complex side, that has made me feel like I’m the only one that can solve people’s problems. And I have to take everyone with me. And that’s not true.

If you’re a first gen, it’s not your job to save everyone. And not everybody wants to be saved, either. Your whole community won’t come along with you on your journey as you’re leveling up and exploring yourself. People will leave you who are not simply in alignment with your journey and your energy. So that savior complex is definitely something that I’ve had to get coached on this year.

That was just a subconscious bias that I had that I’m glad that I’m checking now. But I’m not the only money coach, there’s so many other amazing money coaches as well. But I also gravitate people who are in my energy and frequency. So you’re not taking a space away from other clients. If you book a call to work with me, that’s on me to decide, as a business owner, if I’m ever at capacity to offer a group masterclass, or to change my business structure, I’m the CEO, I have the ability to change my business structure or to decide to stop doing money coaching or to raise my prices at any time too. So I just wanted to clear that objection, that you’re not taking space away from other clients. So I hope this has helped.

Yes, I do work with white people, about half my clients are white. It’s important to acknowledge your privilege, though, as a white person and move past the guilt. Yes, you have a bunch of money, you can acknowledge the guilt, but what you’re gonna do with that money, and how are you going to help yourself and other more marginalized folks, too. So that’s up to you and I’d love to help you figure out how to do that and get your money in order as well. So yes, go ahead and sign up for my brokerage account masterclass. That’s going to be tomorrow. And if you want to work one on one with me, I’ll put the link in the show notes to book a one on one sales call with me. All right, have a great day everybody. Bye.