The Real Estate Law Podcast

Normalizing Black Wealth with Certified Financial Planner Jacqueline Schadeck

July 12, 2022 Jason Muth + Rory Gill Season 1 Episode 58
The Real Estate Law Podcast
Normalizing Black Wealth with Certified Financial Planner Jacqueline Schadeck
Show Notes Transcript

We have an amazing guest - Jacqueline Schadeck, a Certified Financial Planner from Atlanta.

Fresh off of having hosted Black Equity Con in Miami, which featured 3,000 attendees, 50 Speakers, and 40 Breakout Sessions about entrepreneurship and financial growth, Jacqueline is host of the show Melanin Money.

She's building a community of investors. She's all into education, and getting people financially free and on the right path, especially people of color.

The net worth for the black community is set to be zero by the year 2053, a statistic discovered pre-pandemic. Her mission is to help people build their first million dollars of net worth, and create $100 million of new black net worth over the next 10 years.

After witnessing her family fall victim to poor financial advice, losing an inheritance worth over $1 million after receiving poor financial advice, Jacqueline set out to be the go-to person for financial guidance.

Things we discussed in this episode:
- What motivated Jacqueline to become a financial professional
- The importance of a financial team - CPA, CFP, and attorney
- When should somebody seek out and hire a financial professional?
- The origins of Melanin Money
- Are smart investors lucky or just better prepared?
- Jacqueline's free resources and paid courses, including her new offering to people interested in becoming successful digital financial advisors

Fun fact - Jacqueline did Toastmasters when she first started out in an effort to overcome her natural introvertedness (Author's Note: it sure seems to have worked!)

Get in touch with Jacqueline:
Website - https://www.jacquelineplans.com/
Instagram - https://www.instagram.com/jacquelineplans/
LinkedIn - https://www.linkedin.com/in/jacqueline-schadeck-cfp%C2%AE-awma%C2%AE-7151a8b7/
Facebook - https://www.facebook.com/jacqueline.schadeck.7
The Melanin Money Show - https://www.youtube.com/channel/UCa1AU4m48UkKPGi1wK70Atg
Melanin Money website - https://melaninmoney.com/
Black Equity Con - https://blackequitycon.com/

Join Jason Muth and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast!

#realestatepodcast #nexthome #humansoverhouses #realestate #realestateinvesting #realestateinvestor #realestatelaw #realestateagent #financialindependence #financialfreedom #melaninmoney #blackwealth #financialplanning #financialadvisor #financialadvice #millennialmoney #financialprofessional #financialtips
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The Real Estate Law Podcast is hosted by Jason Muth and Attorney / Broker Rory Gill.

This podcast and these show notes are not legal advice, but we hope you find both entertaining and informative.

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Jacqueline Schadeck:

The net worth for the black community is set to be zero by the year 2053. And that statistic was actually discovered before the pandemic. So, you know, with us having heard that, and with us, obviously being people of color, we were like, you know, we really want to help people to get their first million dollars of net worth. You found The Real Estate Law Podcast, because real estate is more than just pretty pictures. And law goes well beyond the paperwork and courtroom argument. If you're a real estate professional, or looking to build real estate expertise, then welcome to the conversation and discover more at realestatelawpodcast.com

Jason Muth:

Hello, hello. Hello. It's another episode of The Real Estate Law Podcast. I'm Jason Muth here with Attorney broker Rory Gill from NextHome Titletown Real Estate and UrbanVillage Legal in Boston. And we have an amazing guest - we've been really looking forward to speaking with Jacqueline Schadeck. She is out of Atlanta, she's a Certified Financial Planner, she is a host of a show herself, Melanin Money. She's building a community of investors. She's all into education, and getting people financially free and on the right path. And we've been really looking forward to this conversation. And I wanted to welcome you, Jacqueline to the podcast. And thank you so much for spending a little time with us.

Jacqueline Schadeck:

Thanks so much for inviting me, Jason and Rory. I really I'm super, super excited. You know, I talk a lot about wealth building. And real estate can really be a key piece to that. So I'm excited to take a deeper dive today.

Jason Muth:

Well, we're glad to have you. We love comparing notes with other investors around the country. We love talking about people that are kind of like on the right path financially, mentally, and are sharing that wisdom with others. And as a certified financial planner. I mean, it's kind of part of the gig. But you've taken that far beyond just building a business and you're building a community. So tell us a little bit about what you're doing. I know we've watched a number of episodes of your show with your hosts. They're so informative. You're amazing on social media. Where did all this start?

Unknown:

Well, thank you guys. I'm blushing. If you can't see, I appreciate the introduction. So interesting thing. So it actually all started, I grew up on thousand acre ranch in Northern California. And long story short, I'm sure Rory will want to know the facts here, but the property was sold out from under us. And so my mom inherited a little over a million dollars. And she lost all that money within four years, which is really due to poor financial advice because she had hired a financial advisor. And so I was asking her, I was like, I don't understand what happened. And she couldn't really explain it to me, and I couldn't find anybody around me who could explain it. So I just decided to become that go-to person for financial guidance. So it was interesting. As I began working in my career, it's been over eight years now, when I first started, I was super, super excited to honestly work with wealthy people. I was like, okay, cool. I've never really seen this side of the world, like what are these people who have $5 million and up net worth? What is this like? And so I started to pursue more education on working with higher net worth individuals and tactics they can take to grow and sustain their wealth. And while I was doing that, my mom was foreclosing on that home that she had purchased with that inheritance money. And so I was like, Oh, I don't know any of these answers to anything about a foreclosure. I didn't study foreclosure, I study helping multimillionaires get more millions. And so I realized that the people who really needed my information, who needed my help, who needed my guidance, who needed my financial competence, were the people who didn't have the most money. And so I had to figure out how to make this pivot, which still sustain my life, right? How to make this pivot to helping more people who didn't have a whole lot of money. And so we were able to build a community were able to start the podcast, I've been able to produce very affordable courses, ebooks and things to help people just, and like you said, social media, just free information. And so it's been quite the journey.

Rory Gill:

You know, I'm sorry to hear what you know what happened to that ranch. And I can only imagine kind of what that that means to you and to your family. But without kind of going into the details. I'm sure the line below the podcast would appreciate that. But without going into the details, what happened there? What were what was working against your parents what was working, you know, and what, maybe mindset or lack of information got in the way?

Jacqueline Schadeck:

Good question. So it's funny because in California, when you grow up, you guys know like when you go up, you go through middle school, they put you through like the state history. And so you learn the history of the state pretty well in depth. And so a lot of us are familiar with the 1840 gold rush, where you know, a bunch of people rushed over to California for gold. And so my family was one of those people. And so that's how we got the land initially. And then the land was passed down from generation to generation and so I had landed on a 50-50 split between my grandfather and his sister. And so the sister had, you know, moved to the city and became the big businesswoman and all that stuff. And so she realized she had this asset that she could liquidate. And so she basically coaxed my grandfather into signing away his ownership, which he lived on the property. And so in the middle of us fighting this battle of her, you know, forcing him to do this, he passed away. And so then the property was just sold. And so what happened was, you guys would know, listeners, more than you know, most people having when you look at your net worth, if you have real estate on there, it's not - unless it's cash flowing, you know, it's just an asset that sits there. So unless you make money off of it in some type of way, you're probably cash flow poor. So that's what happened with my family, we didn't have any cash flow. So there wasn't a whole lot of financial literacy, there wasn't a whole lot of, you know, business acumen. And so once we inherited the money, we weren't exactly ready. And then the way that the financial advisory industry is set up, people get taken advantage of. It's hard to watch, but people get taken advantage of all the time.

Jason Muth:

So you talked a little bit about the financial literacy, and you know, the importance of cash flowing assets, and that land didn't cash flow at the time, right. But I mean, since you're a Certified Financial Planner, it sounds like maybe you've taken that experience and recommended it for some of your clients. You mentioned net worth of 5 million or more. I don't know if that's the wheelhouse of who you're working with, or if you're working people just getting started. But you are an advocate for real estate investing, like so talk a little bit about how real estate fits into the portfolios of some of the folks you're working with.

Jacqueline Schadeck:

Yeah, good question. So I think there's a lot of different spaces that real estate can fit into. The first one that I talk about, which isn't even the quantitative one is just the qualitative of what does real estate do for you? Like, in my case, my family having had that real estate for so long, everybody lived on that property before it was sold. So having real estate is a physical place, right for us to gather. And when you think about real estate ownership, I tell people, I'm like, literally everything is real estate, like you, we need real estate, I'm in real estate right now. I don't know exactly where y'all are. I know you're up. But you're in real estate. The highway outside is real estate, you know, the apartment building across the street is real estate. Everyone needs it. Everywhere you go. It's real estate. And so we have to figure out how it fits into your portfolio, how it fits into your lifestyle, you know, for people who have multimillion dollar net worth, so a lot of times it's about how they can mitigate their taxes, actually. You know, there's so many tax benefits that come to that come along with real estate ownership, that it's like, we can't overlook those. Even for people who don't have multimillion dollar net worth, you know, I have some clients that are just getting started. And so one client in particular, you know, since the tax code changed a few years back, a lot of people are filing their own taxes. And so she had purchased a home in 2019. You know, she was like, Hey, can you double check my taxes really quickly, which I don't actually file taxes, but she's like, can double check my taxes really quickly, it seems like I owe a lot. It's fine. I don't know what's going on here. I just want to make sure I have everything accounted for. She didn't account for the mortgage interest that she had been paying for the last year. And she didn't account for her property taxes. Both of those can be written off. So she went from owing an $8,000 tax bill to the IRS owing her $4,000, just because she needed to add that additional benefit of real estate ownership in there. So even for people who are not quite ready to purchase a home, we have real estate investment trust - REIT. And what REITs are is a way for people who will Real Estate Investment Trusts were first created for average investors to get into real estate. And so that's an opportunity for other people to invest in real estate as well, especially for people who can't afford commercial real estate. So I think that there's a place for everybody.

Jason Muth:

REITs are a good place to start. I mean, it's a little more passive in nature to if you want to be a landlord, you don't want to fix a roof. You don't have your network yet, you know, just go find a good REIT that's invested well in growing assets or growing areas. I can see people getting fidgety because they want to, you know, tinker with stuff but with a REIT, you're not tinkering with any with anything. You're just you know, put your chips down on the right number and waiting a few years, right?

Jacqueline Schadeck:

Yeah, absolutely. And there's so many options opportunities there, commercial, residential, mortgage, there's just a lot of options.

Jason Muth:

I actually have a question about the types of clients that you work with because a lot of people at my day job know that I do real estate investing on the side they know about Rory and a lot of my conversations aren't about work work there are about that, you know, because everyone's thinking about real estate these days, especially with property prices going up as they are. How educated are people that you work with like you talked about tax code? I think three of us know and many of the listeners on this note the tax benefits of real estate. It's like a secret, if you don't know. But it's like right out in the open for all of us, right? Tell us about the level of experience, even the high net worth people, like, are they super smart about all this? Are they coming into it like and you're, you're revealing stuff to them that you thought they should have known. And the early people that are starting in their journey, like, what are the types of clients you're working with? What are the questions they are asking?

Jacqueline Schadeck:

It's funny because I can't remember the name of this test. But there's a personality test that we take and defines, like what your strengths and weaknesses are, right. And in this particular test that I took, it was like, Oh, you're a problem solver. So it's a strength where you because you can find like a problem and pretty much anything and find a solution. And so I was like, that's true. Because it doesn't matter what net worth the client has, when they come to me. I'm like, I can find a fallacy in your plan, I can find a fallacy like something that you could be doing better, something that could be making your money work better for you whether it's returning a better investment to you, or it's just something that makes you feel better, something that helps you sleep at night. So people across all incomes, all net worths have something that they're missing. Like my biggest client had a $20 million net worth. And they still had areas that they weren't 100% adept on. And I think that that's because you know, you hire a professional to do what they do, right? Like we hire Rory as an attorney to do what he does, because he spent a lot of time studying those techniques. And so I think that it's always helpful for people to have an objective third party just to take a look at what they have going on. To answer your question, specifically, what kind of questions do they have? The tax code is always changing. High net worth clients are always going to have questions around the tax code. And part of that is because you have a lot of times you have a team, right, you have that network, you have a team. And so you have a team of your attorney, your CPA and your financial advisor. And so a lot of people want to ask their CPA questions, which is really, really good, you need to do that. But you also need to understand that your certified public accountant is there to account for things that have happened in the past. That's what accounting is. A financial planner is there to look into the future and to help you say, oh, we need to plan for this, we need to, you know, change these things, you know, switch up the trajectory here. And so it's important that you have your team working together for you. And so a lot of times clients will have a particular question. And I may need to bounce something off of their CPA, but we ultimately find out what's the most effective thing for them.

Rory Gill:

When should somebody seek out and hire a professional? And when should somebody take initiative on their own?

Jacqueline Schadeck:

In terms of just comprehensive financial advising?

Rory Gill:

Yeah. So I mean, I think about people who kind of set it and forget it, they hire somebody to handle their investments and advisor, and then kind of walk away and then just kind of treat that as if it's completely on autopilot. And I know there are roles for for those people where you want to set up an investment. But when should somebody be actively engaging with their own money and making decisions for themselves? And when should they be relying on this to support professionals?

Jacqueline Schadeck:

Good question. So I have a course that I sell, and I sell that to the general public, but I make sure that my clients have it, and they're able to go through for the financial education piece, because all clients should be educated on what they're doing. So in my case, I tell clients, I'm like, Look, I want you to know exactly what's going on in your portfolio and in your finances, and why we're making the recommendations that we are because honestly, the best clients and I don't know about you, Rory, but the best clients or the clients who literally could do it themselves, right? What are the best clients, they could do it themselves, they just don't have the time or the real desire, right? Because then it's like they understand what's going on. They understand why they're making these changes, but they're just not the 100% expert. They don't do it all day, right. So I think that it's really key that you're having that annual meeting with your financial advisor, you know, the industry is super, super convoluted. So it's hard because you may have hired an insurance person, you may have hired, you know, a tax professional, you may have hired, you know, just somebody who sells annuities, right. Like that person is not a comprehensive financial adviser who's going to look at all pieces of your financial picture and help you pull it all together. So I just think that it's really important that you're making sure that you have that person so that you can have an annual meeting because you should be looking at it at least annually, if not more often than that maybe quarterly depending on your situation.

Jason Muth:

And we will link up in the show notes your website which features the ability to go purchase this course and work with you and whatnot. I want to talk about your real estate investments a little bit yourself. But I also first I want to mention Melanin Money and The Melanin Money show because I love the mission of what you're doing. How did that start? Like, what was the origin of it? How do you know your your co hosts? What's the community? Like? Let's talk more about that.

Jacqueline Schadeck:

Good questions. So The Melanin Money Show is interesting. We actually had a Forbes Top 10 podcast called the uncensored show, George and I did. George started it, he invited me to be his co-host, which was based on him finding me on Instagram. So shout out to social media. We are really, really powerful tool if you use it the right way. And so he found me on there, and it was like, Hey, do you want to be my co-host? I'm like, sure, because I didn't really want to start a podcast from scratch. It's not really my thing. He was like, Hey, come be on the show. I was like, Alright, cool. So we had started the community. And long story short, we ended up rebranding it to The Melanin Money Show and The Melanin Millionaire's club, just because we wanted to be really defined on what our purpose was and who we're serving. And, you know, the net worth for the black community is set to be zero by the year 2053. And that statistic was actually discovered before the pandemic. So, you know, with us having heard that, and with us, obviously, being people of color, we were like, you know, we really want to help people to get their first million dollars of net worth. And I can attribute real estate to me helping, like helping me get there, initially. And so it's super, super exciting to have that community of people, we have over 2,000 people in there right now, We're getting ready to put on our first conference. I don't know if you guys, if it'll be some social media clips of it on the internet by the time this goes live, but we're putting on our first conference in Miami. So super, super excited. We have over 3,000 attendees. So we're making the mission work, you know, and the mission is just to create $100 million of new black net worth over the next 10 years. And so we have our work cut out for us.

Jason Muth:

Wow, that is awesome. That is really great. It's a lot of work to put on a conference like that. But I mean, you've already built up this community. And you know, my hunch is you're a celebrity among many of them. You even mentioned that you're getting noticed on the street now, when you're walking around.

Jacqueline Schadeck:

Yeah, it's a little bit weird. I never thought that that was gonna happen. But people will just walk up to you like, oh, my gosh, you're such and such. You're just minding your own business.

Jason Muth:

Yeah. But you know, you're changing lives, right? Like you're sharing information online. I mean, social media is great. And the investment in time, you know, leads to all this, I'm sure it's not free. But first of all, time isn't free. But second of all the production and people that you hire, and to work with and whatnot, you know, that costs money, you want to offset. But you know, it's the influence. And it's not like a traditional, quote unquote, influencer, who, you know, we all know the influencer culture these days, some people are just hocking products, but some people are changing lives. I mean, Bigger Pockets is a great community for real estate. You know, maybe you've been part of that as well. I think a lot of people that have been on this podcast know about that. And I read so many things about how it legit changes people's lives, it changes how they think. And my hunch is, you know, Millionaire's Club is the same way, you know, and you might come out of that with your conference. And this is the first conference you're doing?

Jacqueline Schadeck:

It's the first conference, yeah.

Jason Muth:

You might come out of that with just Oh, my God, you know, such great accolades afterward. And I could just imagine some of the quotes you're gonna see on social media and some of the testimonials afterward, you know, if all goes well,

Jacqueline Schadeck:

Yeah, thank you so much. It's super exciting. Yeah. But I told the people who are coming, I said, look, the goal is for us all to be able to pitch in on the yacht next year. Okay, not just for pick up the tab. I want everybody to pitch in - that's the goal.

Jason Muth:

Pass the hat around the room, right?

Jacqueline Schadeck:

Absolutely.

Jason Muth:

So talk about your real estate investments, you know, I know you have a couple of properties. I'm not sure exactly, you know, how they're cash flowing or what they're doing. But you know, what's the direction that you chose to go with your own personal portfolio

Jacqueline Schadeck:

It's interesting. So I actually bought my first investment property before I bought the house that I live in. I don't really recommend that. I don't know your guys's opinion, but I don't really recommend that because I really think that you need somewhere that you're going to be stable and so I was still renting during that time. And for me, it just didn't feel stable. So I ended up selling that duplex that I purchased and I sold it in 2020. Before 2020 I had bought the house that I live in now. For me personally, I don't know if there's any other single women listening to this podcast, but for me personally, I chose the condo life because I was like, you know, I just want somewhere safe, secure, I don't have to do any maintenance, decent HOA fees. You know, I just pull in, come home and leave and not responsible for the roof or anything like that. So I chose the condo life. So those are my first two investments, if you will. Atlanta real estate, you know, of course the whole nation is up. But you know, Atlanta real estate specifically is up, like over 30% In the last year, so and it's been nice. It's been nice. And then since then I bought two other properties. I bought one in Mississippi. Mendon. It's just like a little house in Mississippi little single property home. And then I bought another property in South Atlanta, six acres that has the current house on it, but I plan to tear the house down and build six houses.

Jason Muth:

Wow. Little sub development.

Jacqueline Schadeck:

Yeah, I think it'll be it'll be exciting. Own little.

Jason Muth:

are you are going to sell those six houses off individually? Are you kind of keeping all that yourself and you're planning to do you know, short term or long term rentals with all six?

Jacqueline Schadeck:

I have not 100% decided, but I think I'm going to rent them. It's in a pretty good school district. And so I think I'm gonna rent them.

Jason Muth:

Yeah. So you'd keep it all yourself then. Basically keep all six. Roy and I talk a lot about this. We watch a lot of news, probably too much news. It's not unheard of, for someone to buy a second home before your first home. I think that happened a lot in the pandemic where there were a lot of people that were buying homes outside of the city, whatever city you name it Chicago, Boston, New York, Atlanta, DC that had more space, right, where they can go buy something and escape the pandemic escape, you know, being cooped up in their small apartment, and they couldn't maybe afford in that city yet, but they certainly could afford two hours away. So I think there definitely is a precedent for doing something like that.

Jacqueline Schadeck:

Yeah, mine was way before the pandemic. But, ya know, that makes a lot of sense. I've seen a lot of it's been a crazy, you know, just here in Atlanta, just watching real estate go. It's just been a really, really crazy battle. I lucked up all my property that I bought a few months ago, I just I got lucky that the guy was ready to move out. It was time for him to go to assisted living. He was just ready to get rid of the property. So I just right time, right place kind of a deal. But yeah, it's been it's been an interesting last couple of years.

Jason Muth:

Yeah, there's a degree of luck involved with all real estate, though, in my opinion. I mean, I could probably give the same example of being lucky. Like, I got lucky with where I bought my first condo in Boston. It happened to be, you know, a neighborhood that was turning and then just accelerated. But I think some of that luck is also intuition. Right? Like, you probably have the intuition to identify that as a good deal.

Jacqueline Schadeck:

No, I like that a lot. And it's interesting that you say that because I like to do a freebie you guys that listen to the show, I like to do freebies. So for those who have listened this far, I would like to reward you. I did a webinar. That was how investors get lucky. And you can too. So I'll make sure to give you guys that information. So we can link it in the show notes. But I in that webinar, I talk about how you know investors who are perceived to be lucky, they they really weren't lucky, there's a lot of calculation there. There's some strategy, there will be like a little dash of luck. But a lot of it is preparation, strategy and understanding the different tactics that make you appear to be lucky. And so I'll talk about Peter Thiel, Rihanna, and Donald Trump in there and how they have all gotten lucky, you know, quote, unquote. And so I would love to share that with you guys and listeners.

Jason Muth:

We love freebies, and our listeners love freebies. So we can't wait to get a hold of that. I'm a true believer in luck. I'm a little superstitious, Rory thinks I'm a little nuts for that. I always put my right shoe on first. Don't ask but I heard years ago, it gets you lucky, right? It works for me. But with luck, if you take swings, you'll get lucky sometimes if you don't take swings, if you don't try, you're never gonna get lucky. Luck doesn't just happen. Luck happens to the people that are out there swinging, swinging the bat.

Jacqueline Schadeck:

What's that famous Oprah quote, luck is when preparation meets opportunity. So I noticed that when I got into the world of finance, I was like, wow, there's a lot of opportunities out here. And then I realized I was like, wow, I don't have any money to take advantage of any of these opportunities that I've been to get better prepared for these opportunities.

Rory Gill:

Those lucky opportunities come from these relationships. And if you're not out there, maintaining a bunch of relationships, that luck is never really going to find its way to you. So it's a lot of work to lay that groundwork and to invite that that luck or those opportunities and I'm not superstitious, I'll say opportunities, but that's it's a lot of work set the way for it.

Jacqueline Schadeck:

Yeah, no, that's very true. And it wasn't until you know, we started gathering again in person that I was like, Oh, we we need this. You need that to like build the genuine connections. And so that's why we were like when it's time for us to put on a conference like we've got to meet people in person and build these real relationships. And there's so many times you know, even like you were asking me earlier, Jason, how did I come about like meeting my podcast mates and business partners, and it was social media, you know, there's a lot of people that are listening, that are scared to put themselves out on social media. And it's like, that's one of the best ways to meet people, you know, had we not put ourselves out on social media, we wouldn't have connected for this amazing podcast interview, make sure you guys leave a five star review, we wouldn't have this opportunity. And so it's just important that you're putting yourself out there repeatedly. You know, even if you're not comfortable going out in person, do it on social media, you know, do it on LinkedIn, and just connect with people and grow.

Jason Muth:

Yeah, that makes all the sense in the world. It's part of why we started this podcast. We started a couple years ago, we've mentioned it a few times in past episodes, and then we went on hiatus when we had our baby. And then the past year, we've been pretty religious and consistent with it coming kind of out of the pandemic, even though numbers keep popping up here and there. But it's been a great way to connect with folks. And I think that in the real estate world, people are very competitive, but they're super giving. Especially if you have knowledge, people want to share that knowledge with others, because I think that, like what you're doing is you're building a community of people. And it's not zero sum, right? Like if you, you don't have to win for somebody else to lose.

Jacqueline Schadeck:

Exactly. That's a good point.

Jason Muth:

Tell us about the conference. Well, can you - sneak peeks for what people can see if they're gonna go down there?

Jacqueline Schadeck:

Well so we have over 40 speakers. So we've got people talking from building money, like in the digital world, to we've got some celebrities that are gonna be in the building that are just kind of talking about their journey and how entrepreneurship has worked for them. We've got some, you know, social media celebrities, we're gonna talk about social media growth. So it's, it's gonna be a it's gonna be a good conference, I'm super excited. It's almost going to be good.

Jason Muth:

When is it?

Jacqueline Schadeck:

It's a two day conference in June from the 9th and 10th.

Jason Muth:

I think that's going to happen before this episode is released. So we will circle back with you and see how it went after this comes out. But that's great. Is there anything else you're working on that you want to talk about? Right now, I know the conference is a lot. I know that Melanin Money is probably a lot and your own Certified Financial Planning work is a lot. But you know, do you have any kind of final words before we get to the final questions that we have for you?

Jacqueline Schadeck:

of people message me on social media all the time. They're like, how did you build your clientele? How did you build your following? How did you become a Certified Financial Planner. And so I have a few YouTube videos out there. But I realized that wasn't really enough. And I'm really just trying to be the mentor that I know I needed when I started in the industry, because sometimes you just need somebody to tell you straight up, you know, what's the best path, what are the best options, and I made plenty of mistakes along the way, there's some things that I did late that I should have started earlier. And so I just want to share that inside of my mentorship that I'll be launching in July to help others become successful digital financial advisors. So super, super excited for that it's probably my newest thing that's coming up. I'm going on a TV show in late June that airs on Comcast so super, super excited for that too. So I don't know there's always something going on. You just gotta follow me on social media to see.

Jason Muth:

Rory this is going to be one of these episodes that like a year later we're gonna be like, I can't believe that we had Jacqueline on the podcast because like you'll be everywhere right now you know, like mogul of these conventions on Comcast TV, you know, mentor to many so grateful that you came on,

Rory Gill:

Our tagline is gonna be really the podcast that Jacqueline Schadeck came on. So I appreciate that.

Jason Muth:

Please send us all that stuff. So we could put it the show notes. We definitely want to make sure everyone has all the links to all those areas to find all those great resources. Let's get to final three questions. We ask these of all of our guests just as a way to kind of wrap things up and get to know you a little bit better. The first question that we have is if you were to get on stage for a half hour and you might do this in your at your conference, and talk about something with zero preparation, what would it be? Yeah, the drink.

Jacqueline Schadeck:

Really funny, I did Toastmasters for a Yeah, it was like the first thing I had little bit when I first started in my profession, because I'm an introvert guys. I'm a big introvert so I would probably to talk about for like five minutes straight on get up and talk about - it's funny I just remember I had to Toastmasters. But no, honestly, I played college basketball. So talk about Tang. Y'all know Tang? it'd be really fun to just talk college basketball.

Jason Muth:

Basketball and Tang. And I just mixed they two. Tang was the drink that went to space. Right. Like Wasn't that what the astronauts Yeah.

Jacqueline Schadeck:

And that's what I talked about.

Jason Muth:

Yeah, and Toastmasters? Like I'm familiar with it. But maybe you could share, you know, to the audience if you don't know what Toastmasters is, like, you know, how did you get involved with that? And why did you do it? I mean, you're an introvert. So you're trying to like pull yourself out of your shell. But what what is that?

Jacqueline Schadeck:

So for those who don't know, Toastmasters is a nationwide organization to help groom speakers. So it's funny, because you have all different age ranges, you have like some young people who are like trying to just build up their speaking skills. Sometimes you just have some really old people who are just bored, and they need something to do. So it's really interesting, but it really does help. It helps you to think on the spot and helps you to just talk in front of strangers that you've never talked to before. So for anybody who may be uncomfortable getting on social media, and chatting, it's a really good place for you to start. So you probably have a local chapter near you. And I don't know how they're doing things virtually these days. But I'm sure there's an opportunity for you to grow there.

Jason Muth:

Rory, we've had a lot of people that are self professed introverts on this podcast, which is just so ironic for a podcast, isn't it?

Rory Gill:

It is, and I don't know if I necessarily believe the data can't be correct that everybody's an introvert, that's speaking to us on the podcast, but maybe we're, you know, developing really good ideas as introverts and then when we get to express them worth be the star on the podcast.

Jacqueline Schadeck:

INFJ. All like Myers-Briggs told me I'm

Jason Muth:

All right, go with that. Yeah, my brains isn't introverted, so. wrong. Second question, you actually might have answered this one already. But maybe you have a different answer. Tell us what happened early in your life or career that impacts the way that you work today,

Jacqueline Schadeck:

Something early that happened, I had a really good mentor at the beginning of my career. And he was like, Look, when you go in this room, he was like, you're gonna be young, you're like, you're gonna be black, you're gonna be female, he was like, you're probably going to be the youngest one, you're probably going to be the blackest one. And you may or may not be the only female. So he was like, just go in there with confidence. Be yourself, you know, do what you came to do and let that be that. And so it was a, it was very interesting at the beginning, but it was super, super impactful for him to tell me that, you know, to empower me as a 20-21 year old kid, just trying to get a footing in the finance industry, because our industry is known for this tagline, male, pale, and stale. I didn't come up with that. Everybody knows it. Okay. We all know that because financial advisors are typically older white men that are age 50 and up And so him instilling that confidence in me was really, really key for me to you know, just let my career grow. And so I needed that I needed that it was it was amazing.

Jason Muth:

Well, good for you. We need varying voices, diverse voices in every industry out there. It should not be male, pale, and stale. You know, unfortunately, Rory's still in his 30s. I'm in my 40s, approaching 50. So I'm going to fall into that. But I speak up for Generation X, we're the generation that like doesn't get acknowledged, you know, the millennials are there, the boomers are there. We're just the ones in the middle. We're the small little generation in the middle. And I hope we think like you know, about equality and diversity and whatnot. But, you know, we're firm believers in that.

Jacqueline Schadeck:

Yeah, I guess because I was like, Well, what happened during your generation, like they call your latchkey kids, so you got left at home?

Jason Muth:

We're supposed to be slackers. So Gen X, like the movie that defined Gen X is like Reality Bites, which came out like in the early 90s. And it was all the people from Seattle that were just like, you know, stoners wearing flannel and you know, just wanted things handed to them. That's how our generation was painted. I don't think that's how it turned out, but.

Jacqueline Schadeck:

Y'all are great. Y'all are really good. Millennials are not slackers. We're not.

Jason Muth:

I don't think so. At all. Yeah. You're a millennial, right?

Rory Gill:

Yes. The Oregon Trail generation the very oldest here of the the millennials. Yeah.

Jacqueline Schadeck:

Oregon Trail though. Yes.

Jason Muth:

Yeah. I never played Oregon Trail. I just know that everyone died of dysentery or something.

Jacqueline Schadeck:

Pre-computer era, Jason.

Jason Muth:

Um, Commodore 64. You don't even know what that is probably. Final question. Tell us something you're watching or listening to or reading these days, anything in the world.

Jacqueline Schadeck:

I watch anything that comes out that's like, Oh, this is about a financial advisor. So I watched all the Ozark episodes. What am I reading? I'm reading a lot of things about just growing business and understanding business. I know that was like a fallacy in my family's plan. So Alex Hermosa has some really good stuff. I'm learning more about digital. So it's funny because we talk about the Oregon Trail. And I was not the computer person. So we had those boxes at school. But I was like, Yeah, this is not my thing. So I was never that tech person. So actually learning the digital world has been like new to me. It's it's different. So I'm reading a lot of books about just surviving and thriving like on social media and in the digital world.

Jason Muth:

One common thing we see from people coming on the podcast who have such ambition and successes, they're always learning. And they're, they're putting themselves into situations that maybe they're not super comfortable with. So if you're not comfortable with digital, and you're not comfortable speaking, it certainly doesn't come across that way. You know, and you've, you've made some strides in that probably in your life, you probably realize that right now. But you probably have that little voice in the back of your head that, you know, continues telling you that like, you know, you're not good at this. And that's what motivates you.

Jacqueline Schadeck:

Yeah, it's called your Gremlin voice. So for those listening, ignore that guy. Ignore that moment. Because I think I'm just a walking testament that you really can achieve anything you want. Like, you really can go after anything you want. I follow the Jeff Bezos goal setting method, which is to look forward seven years in the future and decide what you want, you know, seven years from now to look like and then work backwards to engineer that plan. And what I realized when I did it, the first time, which was about seven years ago, was everything that I've manifested is what came true. And so what I learned from that was, stop listening to the Gremlin and set bigger goals because you really can achieve anything that you put your mind to. So I know it's a little cliche, but I appreciate y'all that made it to the end of the episode. Yeah.

Jason Muth:

Well, I don't know. I think people have made it to the end. They're just you know, I always say leaning in leaning in and listening, like, you know, listening more closely. So if you're still listening right now, you're clearly leaning in. And I hope you've enjoyed the conversation. Let's tell everyone where we could find you. Your website, your social, what would you like to put out there?

Jacqueline Schadeck:

So everything is Jacqueline Plans. So when you look for me on social media, whichever platform is your choice, you will find me there.

Jason Muth:

We will put links in all the show notes. We're pretty good with that. Rory, where can people find you? know Jacqueline's gonna tell all of her friends to go do that once she gets off this. And once you publish the podcast, that 3,000 new fans, hopefully, you know, down in Miami, but you know, we wish you the best. We hope that you know, when this comes out, the conference will have been a smashing success. So you know, but up until that point, we hope that, you know, your final weeks of planning go really well, and that you enjoy the conference and that a lot of people get things out of it. So I think it's going to be a dynamic showing for you guys.

Jacqueline Schadeck:

Well, thank you guys so much. I appreciate your support and having me on and I'll see you soon.

Jason Muth:

All right, awesome. Thank you for listening. It's been The Real Estate Law Podcast. I'm Jason, I'll see you later.

Jacqueline Schadeck:

This has been The Real Estate Law Podcast because real estate is more than just pretty pictures. And law goes well beyond the paperwork and courtroom arguments. were powered by NextHome Titletown, Greater Boston's progressive real estate brokerage. More at nexthometitletown.com. And UrbanVillage Legal, Massachusetts real estate Council serving savvy property owners, lenders and investors more at urbanvillagelegal.com. Today's conversation was not legal advice, but we hope you found it entertaining and informative. Discover more at realestatelawpodcast.com. Thank you for listening.