Wealth Podcast Post

Financial Prosperity with Penelope Jane Smith

George Grombacher July 28, 2022

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Financial Prosperity with Penelope Jane Smith

LifeBlood: We talked about financial prosperity, what it is, how to find it, a framework for making it happen, and how to get started, with Penelope Jane Smith, Financial Freedom Mentor and author. 

Listen to learn why you should do something for your future-self every day!

You can learn more about Penelope at RealProsperityInc.com, Facebook, Twitter, YouTube and LinkedIn.

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Our Guests

George Grombacher

Penelope Jane Smith

Episode Transcript

george grombacher 0:00
Come on one level this is Georgie and the time is right welcome today’s guest strung apart from Penelope Jane Smith, but LLP. Are you ready to do this?

Unknown Speaker 0:18
Oh yes, here we go.

george grombacher 0:20
Let’s go. But LB is the executive director of real prosperity Inc. They’re an organization on a mission to elevate prosperity of the planet by providing individuals the education opportunities and support necessary. She’s a financial freedom mentor for women entrepreneurs. She is the author of The Little Book of prosperity, Penelope, tell us a little about your personal life some more about your work and why you do what you do.

Unknown Speaker 0:45
Oh my god, well, I actually have a very dramatic money story. I was living and working in Japan teaching. And I stumbled across Robert Kiyosaki his book Rich Dad, Poor Dad. And I learned about passive income and building businesses and investing. I was like, Okay, that sounds great. So I learned about passive income in my 20s. And I decided that when I got back to the US, I would start by investing in real estate. So in just four years, I took $10,000 of my own money, and I turned it into over $6 million in real estate. I don’t think you know, this about me, Georgia, or maybe you do, but we haven’t talked about it. So that alone was very dramatic, right. But then 2008 came the crash, and I lost it all. So I went from being on track to retire by the time I was 31 to be millions of dollars in debt, and struggling and struggling to pay my bills and make ends meet, my electricity got turned off. I eventually lost my home to foreclosure and I lived in fear that I was gonna like come home, find the locks changed, and my pets trapped inside and I scrambled and scrambled to like, find another place to live. So it was really intense. I would never wish that on anybody. And so I’ve lived through some of people’s worst nightmares financially. And then like right in the middle of as I was losing everything I got invited to participate in this High Level Mastermind on Necker Island. Have you ever heard of that? Sir Richard Branson’s place. Yes, Sir Richard Branson’s private island in the Caribbean. So $50,000 investment to go for six days for this mastermind. And I of course, my credit was trashed. I didn’t have any income or money. And I was like, Oh, my God, that’s like, there’s no way I should be signing up for this. But I had this like, really strong intuitive hit that I was supposed to be there. So I was like, Okay, I will tell my inner critic to take a coffee break. And I’m gonna go through ahead, see if I could figure out how to do this. I’m happy to share, you know, how, how I ended up doing it, but it worked. And so I went to this billionaires private island. And one of the things that really had that experience helped me turn everything around was that the facilitator announced publicly that he wanted to win a Nobel Prize for single handedly turning the economy around. And I was like, wow, I mean, that really inspired me. And so I’m sitting there on this billionaires, private island, sitting with the question, What could I Penelope Jane Smith do to single handedly turn the global economy around. And I got a download, can I share what I came up with, please? Awesome. So what I noticed too, is that like, everybody has their own personal economy, like my personal economy, obviously was tanking, right, I was losing my house going bankrupt. My personal economy was a train wreck. But there were other people on Necker Island. And even that I knew back home and the San Francisco Bay Area where I’m from, they were having their best year in business ever. And their personal economies were amazing. And I was like, There’s something here, if I could support enough individual entrepreneurs, because we create a lot of opportunities and jobs and goodness, if I could support enough individual entrepreneurs to shift their personal economy, then we’d hit a tipping point. And that would shift the economy at large. And so as soon as I got back, I started making micro loans to women business owners in Africa, Asia, South America, so I could have a positive global impact right off the bat. And I started hosting events to teach people how to like make money right away because that’s something I’m really good at. And that really like shifted everything you know, by focusing on supporting other people. My own business tripled since then, I’ve gone on to cashflow my dream wedding. You know, I have an extra long maternity leave with my first kid just just had my second kid. I’m enjoying a lot of time with him. bought our beautiful dream house with a water view like way nicer than the house. I lost. travel all over the world, you know. And the reason I am passionate about sharing my story, which I couldn’t do without bursting into tears for a long time, is that I have lived through some people’s worst nightmares financially and so I want to help people make or help people make better decisions and I did and avoid some of the painful mistakes that I made. And then also, if they have faced financial challenges, help them like stand up, dust themselves off and like, move on, you know, so you asked more thick what you bargained for. But that’s why I’m passionate about what I do.

george grombacher 5:19
Nice. I appreciate that very much. And, you know, a lot of time, all the time, I wish that people would be able to avoid going through something awful. But do you think that you would be where you are today, if you hadn’t gone through that terrible experience?

Unknown Speaker 5:36
I think my life would be very different. I mean, I am a much more compassionate human being. You know, when when someone says, like, oh, I can’t afford, you know, whatever, like in the past, I’d be like, well, you just go manifest more money, you know, but I got to the point where like, I couldn’t just go manifest more money. And so I know what it’s like to cross the bridge in the Bay Area, we have some toll bridges, and then not have the few dollars to get back over it, you know, and to actually have to worry about that. I know what it’s like to go a year with holes in my shoes, not able to hit No, buy new shoes. I know what it’s like to be without a car. And so I have a lot more compassion for people not like, I’m just going to get there with them and their story. But I provide a lot of free educational resources for people who are in financial crisis. Because I’ve been there, you know, it’s also made me a much more savvy investor, and a better teacher. So I’ve definitely harvested a lot of experience a lot of lessons from the experience that I think, make me a more thoughtful, compassionate, savvy, person, teacher investor today, what I want to go through that again, now what I wish that I did what I wished somebody else know. But on the other hand, you know, I shared this story on a teleclass, I remember teleclasses, on a teleclass, with one of my JV partners, and somebody actually emailed me afterwards and said, You know, I am going through something similar to what you went through. And I’ve actually been, you know, considering killing myself, and hearing your story, gave me the courage to keep going, because I was in that place, too. And I shared that I had had those thoughts. And I was like, you know, what, if I had to go through all of that, to save this person, and shift their perspective, then that was worth it, you know, something good came out of it. But it was very, very hard time.

george grombacher 7:45
I don’t doubt that for a second. But that was what I was thinking. And that story, really, you know, sort of proved it that makes you so much more relatable, when you can get up in front of people and be vulnerable and say, hey, you know, I’ve been to all these had these terrible experiences, and I’ve been in these really, really tough spots, versus I’m perfect. And I’ve never made a misstep, and you know, that kind of thing. So and helping people to shift their perspectives. I think that that perspective is just one of the most valuable things that we have. It’s hard to get, and it’s easy to lose, the more we can remind ourselves and remember, yeah, I used to have holes in my shoes. I used to be worried about getting back over the bridge. I think that that keeps us grounded. How do you get people started? If if if they are in a bad place, the world of finance and personal finance and these personal economies you’re talking about? It’s a lot. So how do I go from just feeling ashamed and like I’m stuck and trapped to just making positive moves getting started?

Unknown Speaker 8:50
Well, there’s a spectrum of financial experience, and you can feel shamed and trapped anywhere on the spectrum. So like, on the one hand, there’s people who are in true financial crisis, like I was, like, facing foreclosure or facing bankruptcy, not having enough money to come in to pay their basic living expenses, all the way to like, you know, getting out of debt, saving and investing, buying a house paying for things for cash, you know, helping their kids go to college, maybe paying off the house all the way. On the other side of the spectrum to wealth building legacy building financial freedom, where your passive income is more than your expenses. There’s that whole spectrum, right and that’s the spectrum of your actual financial experience. But anywhere on that, on that spectrum, you can still have the emotional experience of shame. Like I have people who are millionaires, multimillionaires, that come into my class and they have shame around not knowing how to invest better like they’re working with a financial advisor. I’m not a financial advisor by the way, that’s why I love that you actually support people their 401 k’s and stuff because I don’t do that. So it’s nice to be able to connect somebody connect them with somebody does, but you know, they have a lot of fun. Hang on not understanding like what their advisor is doing. Or when they meet with their advisor, they don’t understand what they’re saying. And they’re like, is this good? Am I gonna have enough to retire? Like, I don’t know. So even on the that end of the spectrum, where, you know, people over here might be like, Wow, they are really wealthy, they really have their stuff together, they still have shame and anxiety and feel trapped and paralyzed. You know, so there’s like the the financial situation journey, and there’s the emotional journey. And how I work with people is through what I call my wealth accelerator system, which has four parts, mindset, education systems and strategy, or mess for short, because like, like, a lot of us are a hot mess when it comes to money. Like nobody taught us this, most of us didn’t learn how to make save, manage investment, protect money, at home or in school, like a lot of us have a formal education, some kind of professional education, but we never receive a financial education. And then we think we’re just supposed to have this figured out, everybody else has it figured out. But guess what, nobody has it figured out you need to, you need to go learn, you need to listen to podcasts, like this, you need to take courses and read books and actually put those money systems in place. And so as we’re working through and always touching on up leveling your mindset, your education, your systems and your strategies. It’s like a positive spiral that encompasses both the emotional psychological side and the outer game, how to get your money systems in place side.

george grombacher 11:32
I love it. Mess, that’s perfect.

Unknown Speaker 11:35
So you’ll always have a mess, it kind of takes the pressure off it. Right. But working on your mess and up leveling your mess. Like that’s the key to really building wealth and freedom.

george grombacher 11:45
I think that’s fantastic. All right, give me the what is the and again, mindset

Unknown Speaker 11:50
mindset, and the E, education,

george grombacher 11:53
education systems, and then strategies. I love it. So where do people have the hardest time? Or do people struggle with different, it’s just kind of depends.

Unknown Speaker 12:07
everywhere. I mean, those are the four areas that it really takes to get your whole financial picture complete. You know, I think that if somebody has their mindset in the right place, and all we do is uplevel their systems and strategies, then they can become financially free very quickly. It just, it just depends. But I think there’s always another level in all of those areas, especially the mindset and education. It’s like an ongoing practice this system, just like a yoga practice. It’s like something you just get better and better at but there’s no like end. So you’re always up leveling your mindset. You’re always increasing your education, you’re always tweaking your systems, you’re always reevaluating your strategy and making sure it’s solid.

george grombacher 12:53
How does somebody know if if they’re ready for this? Do they have to be ready for this to turn people away and say, hey, you know what, I can see that you need my help, but you’re not ready for it or not.

Unknown Speaker 13:05
I think that if somebody if somebody thinks that like money is bad or evil, and there’s no point in them coming to my financial freedom one on one event or watching any my Penelope Jane Smith, YouTube videos, like if, if they think that money is a bad thing, then I can’t help you. I’m not the person for you, right. But if you have a vision of getting your money stuff together, like you want to be able to manage and save and invest wisely. And you you realize, okay, that’s a skill that I never learned and I’m open, and I’m willing to learn about it. Then I support people all along the spectrum, you know, for I have one on one work with people who are a little further along. And for people who are all the way in financial crisis, like I was, I have all kinds of free stuff, you know, videos, and E zine and all these resources that can support them, even if they can’t afford to, like hire me as their coach, right? Because I do want to be able to support people wherever they are on that journey and meet them where they’re at, and then bring them along. It’s like this is my easy it is called prosperity Express. And it’s like, here’s the prosperity train, we’re heading out of the station, like jump on if you want to come with us, and I want the doors to that train to be open everybody.

george grombacher 14:22
I love it. How is your thinking about prosperity changed as your family has grown and your personal life has changed, if at all?

Unknown Speaker 14:31
Well, I changed a lot because it’s I’m having a lot of the same conversations that I used to have around money around time. Because now like money is more abundant, but time has become extremely precious and you know, difficult to come by. And so I’m having to be like very, very careful and smart about what I say yes to you know, because in order for me to be here during this interview, for example, not only do I have to have somebody watching my five year old, I need to have somebody watching the newborn, there needs to be quiet on the set, you know, I need a little time to put my makeup on and plug my microphone. And so it’s not like, I can just show up in my office to my webcam on and I’m ready to go. Like, there’s a lot more planning that goes into something like this, you know, so I really have to make my work time count, you know?

george grombacher 15:28
Yeah, it’s fascinating. And how are you doing with it?

Unknown Speaker 15:34
Um, there’s, on the one hand, I feel like I am rocking it. Like I’ve had a lot of people say like, how are you doing this to the new world? You know, like I, I was just featured in a docu series. I’ve been doing interviews, I’m like, about to do my financial freedom one on one event, which is my three day online signature event. And people were like, how are you launching with a baby? How do you already have 200 people registered for your event when you have a baby? And I’m like, I have abundant support. I learned a lot from the first baby. I thought I had a lot of support. And my mom came to stay with me for a month, I had a doula. I had a personal assistant. So I was like, Oh, yes, I have lots of support. It felt like nothing. At the time, I was like, it’s, you know, having a newborn was like torture. People would say, like, oh, it’s gonna get better six months, and like, six months, like, I don’t know, if I’m gonna make it to the next 20 minutes, you don’t understand, like, This is bad. This is dire. It was like, really, really, really intense. And I completely shut down my business and my programs. For my first kid, I kept my newsletter going my bi weekly newsletter, and that was it. Everything else, all my programs shut down. And then like six months later, I took on a few one on one clients and kind of started building things back up from there. So this time, I was like, you know, what abundant support looks like it looks like two people at all times just to hand the baby back and forth. Right. Like, in order for somebody to be able to eat, go to the bathroom, take a shower, these things that we completely take for granted until our parents, you know, you really need two people in the mix to be able to survive, then if anything’s going to actually get done, like food getting cooked, or groceries getting bought, we need that same person, right? And then oh, now somebody has to take care of Gabriel, because there’s the five year old in the mix, you need four people. And oh, if I’m going to work, I need to step out of that and put a fifth person in there. So I have a combined weekly schedule with the five roles and who’s on what role when, like crazy, and that is how I have managed to have a pretty good time with a newborn. It’s still hard. Sometimes, like I’m enjoying it way more, I haven’t had that feeling of it being torture, or like I’m not going to make it. I actually like have enjoyed the time with my baby a lot, which is wonderful. And my five year old, I’ve enjoyed time with both of them. And now that he’s eight weeks old, what we’re doing this interview. I’m like, Okay, we made it. Where does it stop? So like this kind of like quiet despairs creeping in, like, Am I ever gonna be able to like, shoot more YouTube videos or do these things I used to do. But I think that as he gets older, I won’t be able to. So there’s some of that.

george grombacher 18:21
I love it. Well, I don’t love the idea of quite despair, obviously, anyway, but I feel like there’s another book in there feel like your next book is all about successfully managing this and all that. So but

Unknown Speaker 18:34
on the other hand, like I’ve put all these systems and team and awesomeness in place where I don’t need to work as much, thankfully Right? Like I actually my my last event before Michael arrived was so successful, like I could do just fine not doing anything else for the rest of the year. And I mean, if I really, really wanted to, I could probably stop marketing my business entirely and just declare myself financially free right now, because I have enough. You know, I have enough streams of passive and semi passive income that I could probably make that work at this point. But I have you know, I have a vision for what I want to do with my business and I just have to balance that with my vision for having a family.

george grombacher 19:17
Love it. Open LP, you’ve given us a lot, but the people are ready for that difference making tip, what do you have for them?

Unknown Speaker 19:24
I’d say one of the most powerful things I can share with you is comes from just like a meme that I ran across the rows on Facebook, and I wish I could give someone credit but there was no like who this is by. But it totally stopped me in my tracks. And I’m like that is what it’s all about. And it’s something I bring up a lot because I’m so passionate about this. And so here it is. Do something today that your future self will thank you for do something today that your future self will thank you for and I’m like oh my god. You know, freedom is one of my highest values. That’s why I support people to become financially free and the That’s, that’s what it’s all about, right? It’s about putting those systems in place, you know, buying assets, creating assets, putting those income streams in place, so that your future self is going to be really happy. And I mean, that goes for all things, financial, health, relationships, everything. But when I think about my, my past self, I am so grateful to that person for putting everything in place now. So I get to, like, live in my dream home and have my family and have this amazing business around my passion. I mean, my, my life is pretty amazing, right? And that’s all thanks to her, you know, and I really, really appreciate her. So that’s probably the biggest tip I can share.

george grombacher 20:39
Well, I think that is great stuff that definitely gets come up. Do something today that your future self will thank you for. I think that yeah, that’s amazing. If you do that every day, then yes, that God willing, we’ll all be old one day, Penelope, and that old version of us will be really grateful for this current version of us. Yeah, and

Unknown Speaker 20:57
the thing is, like, the time is gonna pass anyway, you’re gonna work on something anyway? Why not invest a little bit of your time and a little bit of your effort in something that’s going to really set you up for success in the future?

george grombacher 21:09
Have it open LP thank you so much for coming out. Where can people learn more about you? How can they engage with you? How can they get signed up for your upcoming financial freedom one on one course?

Unknown Speaker 21:18
Well, if you like what I’m about, you can check out my Penelope Jane Smith YouTube channel got a lot of great financial education videos on there. But if you really want to go deep and work on your mess, and totally up leveling, then I would suggest coming to my financial freedom 101 event. That’s an online event. So you can attend from anywhere in the world. And in just three days, you’re gonna get the tools to become financially free forever. So you can go to my website and get a ticket for 497. But I want to give you a special link where you can bypass that and come as my guest and that is a gift from penelope.com gift from penelope.com. So if you go to that link and register, it’s just a $97 seat deposit which you get back when you come so this really is my gift to you. We just ask for a deposit because we send out a workbook and materials and we don’t want to do that if you’re just like oh yeah, sure I’ll I’ll come and then you don’t show up. So that’s why we do that. But I would love to see you there and work with you over three days to get all your money systems dialed in so you can totally rock your financial freedom vision. Love it.

george grombacher 22:22
If you enjoyed this as much as I did show Penelope appreciation and share today share with a friend who also appreciates good ideas, checkup and LLPs YouTube channel Penelope Jane Smith and then go to gift from penelope.com for the discount on her on her three day financial freedom one on one course take advantage of that. Work on your mess and get everything all taken care of and start investing in that future self and everything else we’ve been talking about. Thanks good Penelope. All right. And until next time, keep fighting the good fight. We’re all in this together.

Transcribed by https://otter.ai

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