Your Wealth Action Plan: Build, Own, Multiply

0:01 Hey there, and welcome to Faith in Finance, where your values and your financial vision come together. I'm your host, Geil Thompson, Registered Rep for Joseph Eden Capital, a sister firm of Joseph Wealth Management. Every week, I'll be walking with you through the tools, truths, and strategies that help you build wealth with purpose, clarity, and peace. Because your money isn't just about what you have. It's about what you're building. Let's get started. Faith in mind is hand in hand Rooted in values that firmly stand Building a future that shines so bright With hope and wisdom we take flight or catching the ones that speak to your season, you are taking steps towards financial clarity, purpose, and wealth building.

1:07 Today, I'm sharing a framework that I walk every client through, no matter their income, background, or level of financial knowledge. It's simple, it's powerful, and it's effective. I call it the BOM, build, own, and multiply. Let's break this down. No matter where you are financially, whether it's paycheck to paycheck, mid -level investor, or early retirement, listen, you fall into one of these three stages. But first, I want to talk about build. See, this is the foundational stage. It's where you focus on increasing your income, whether that's building a savings, improving your money habits, growing your skills. For example, maybe you're freelancing to bring in some extra income. Maybe you have cakes. Cookies, ideas, maybe a business that you need to be starting.

2:01 Or maybe budgeting to save your first $5 ,000 for that emergency fund. Listen, you might be taking a course to improve your market value, but all of this that we're talking about is builder's energy. Number two, it's about ownership. Ownership is where the wealth strategy begins to take root. See, this could be buying your first home. investing in a rental property, launching a small business, or securing equity in a startup. It could even be intellectual property, writing a book, patenting an invention, or even licensing a product. For example, one of my clients sold some NVIDIA stock after the split of June of 2024. That 10 for 1 split allowed her to use the profits to purchase a small condo. But here's what's amazing. Because she learned build, own, and then multiply, that same condo now pays her $800 a month in rental income. She's moved from just being a builder to now owning. The third step is multiplication.

3:14 This is where the real growth happens. I want you to think automation, compounding interest, or even legacy planning. See, multiplication sometimes also looks like pouring back into others. It looks like you've got systems that grow your money without you even having to put much effort into it. See, you're creating something scalable. You're no longer trading time for money. Building and multiplying in this instance is more about your legacy. So let's ask you this. Where are you right now in these three stages? Are you in build mode? And if you are, I want you to focus on increasing your income, maybe creating a budget that works for you and starting out that emergency fund. I want you to download apps like YNAB or EveryDollar because, see, these apps will allow you to do better at budgeting yourself, but also managing where your cash flow is going. Are you in own phase? And if you're in an owner's phase, then it's time to acquire and strengthen your money with other assets.

4:24 So what could that look like? It could be buying rental property or investing in REITs. REITs are real estate investment trusts. Or maybe it's setting up a SEP IRA, a simplified employment pension individual retirement account. Or are you in the last phase, which is multiplication? Multiply. If you're in the multiply phase, you're focused on automating your contributions, investing in long term assets like trust and mentoring the next generation of wealth builders. An ideal client in multiply can automate their giving. They're going to definitely max out their retirement accounts and begin coaching others. They no longer are worried about money day to day, but are multiplying their mission. So here's your assignment. decide where you are build own or multiply and choose one action to take this week just one because movement not your perfection is what creates momentum and as always if you're ready to go deeper or want some assistance with building your personal wealth action plan visit josephwealthmanagement .com and book your consultation listen you don't have to figure this out alone We wish above all things that you prosper, and we're here to walk you through each step of the way. Thank you for joining me today on Faith and Finance. My name

5:55 is Jill Thompson, and I look forward to seeing you prosper. As you think about your own wealth action plan, build, own, multiply, I want to leave you with a faith principle that mirrors this exact journey. In the book of Nehemiah, we meet a man who wasn't a king, a priest, or a financial expert. He was a cupbearer, a trusted servant in the king's court. But when he heard that the walls of Jerusalem were in ruin, it broke his heart. He didn't just pray. He prepared. He fasted. He sought God's wisdom. And when the king asked what he needed, Nehemiah had a plan.

6:37 He requested letters of safe passage, timber for construction, and the time he'd need to get the job done. Then he traveled. He inspected the wall in secret at night. He assessed the damage, counted the cost, and then rallied the people, not just with emotion, but with a clear blueprint. He delegated, he guarded, he built, all while facing opposition. Nehemiah didn't rebuild the wall in one day, but brick by brick, gate by gate, the vision came to life. Not because of luck, but because of leadership, planning, and faith fueled execution. That's how we approach wealth building. Faith isn't passive. It's disciplined movement in the right direction. It's not just praying for breakthrough. It's showing up with a budget. a strategy, and then you gotta have some resolve to see it all the way through. The Bible says, though it tarry, wait for that vision.

7:38 So as you build your financial life, don't move in fear. Don't move in guesswork. Move with wisdom. Have a vision and have a strategy because God doesn't just bless the desire to build. He honors the plan. The Faith and Finance podcast is intended for educational, informational, and entertainment purposes only. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect those of Joseph Wealth Management, Joseph Eden Capital, or any affiliated entities. Nothing shared on this podcast should be construed as personalized, financial, legal, tax, or investment advice. All investing carries risk, including the potential loss of principal.

8:48 Listeners are strongly encouraged to consult with a licensed financial advisor or fiduciary who understands their unique circumstances before making any financial decisions. Joseph Wealth Management and Joseph Eden Capital are registered entities and operate in accordance with applicable regulatory guidelines. Business is conducted only in jurisdictions where they are duly licensed or exempt from registration.