Self-made millionaires are always inspirational in themselves, but to have a female reach a 7-figure portfolio in her 30’s? That’s a different level of respect!
Insert Alicia Holmes, a financial educator and coach who deems herself “The Wealth Whisperer.”
She states, “My life’s work is to disrupt what many believe is the inevitable worsening wealth gap for women of color. With accurate information, proven investing tools and a wealth-building mindset, we can turn things around.”
So what exactly is a wealth-building mindset? Holmes answers, “It’s a willingness to be both curious and courageous in learning about your financial past and future.”
In her 20’s, Alicia Holmes was given an investor’s roadmap. Now, she is here to empower women of color all around the world that they too can obtain wealth and financial freedom. From adopting a millionaire mindset to mastering money management to even stock investing, cryptocurrency investing, and understanding Web3 , Holmes offers a 4-work long introductory bootcamp called Journey To Wealth that teaches women how to become entrepreneurs and fully maximize their potential.
Additionally, Holmes is the founder of Disrupter DAO, a decentralized autonomous organization created to disrupt the racial wealth gap and propel Black and Latinx women into the Fifth Industrial Revolution.
Sheen spoke with Alicia Holmes about her background, what financial wealth means to her, creating her own company, and more!
Where are you from originally? How does that play into your life and career?
I was born and raised in the Bedford Stuyvesant section of Brooklyn, New York. The Brooklyn of my youth was definitely not the gentrified Brooklyn of today.
My family lived in one of the beautiful brownstones – as renters. Most of the families I knew were renters. The few who weren’t renting didn’t talk much about owning property. The majority of the people in my community didn’t talk about money, home ownership, or any financial matters. What I experienced then, and what I continue to hear to this day, were conversations about struggle, strife, and survival.
I remember when my mom and many people began using credit cards instead of cash or layaway. Credit cards gave people the ability to purchase things they couldn’t afford without thinking twice. It became commonplace to see people, even those making very little money and struggling to make ends meet, owning very expensive items.
How did you get into this space?
I was one of the first in my family to go to college. At an alumni event for Black and Latinx students, I met someone who became my financial mentor. I’d never heard anyone talk about wealth, net worth, people of color being “status starved,” the difference between being an investor versus a consumer, and so much more. Everything he shared was paradigm-shifting, and I was curious about it all.
He asked me, “Do you want to be rich, or do you want to be wealthy?” My first thought was, what’s the difference? This simple, yet powerful question caused me to look at my relationship with money, and it became the catalyst for me to create wealth for myself, my family, and my community.
When I learned about the power of leverage through real estate investing, I was all in. I always lived way below my means, making purchasing assets a priority. Two years after college, although I worked for a non-profit organization and was making a meager salary, I was able to go to an auction and buy my first piece of property. I went on to purchase assets including real estate, stock, crypto, and businesses. I have made it a priority to own things that build my net over spending on things that add to the net worth of others.
What does financial freedom & generational wealth mean to you?
Financial freedom means not having to exchange my time for income because my investments are generating income. Instead of working for my money, my money is working for me.
Generational wealth and estate planning is important, and our community has been underserved in this area for a long time. A lack of information and the cultural assumption that estate planning is mostly an endeavor of the rich, famous, and white, have resulted in real consequences for black and brown communities. Taking care of this area is about setting our families up for the type of wealth that has long eluded us.
Within the next ten years, baby boomers are set to pass to their children more than 68 trillion dollars. Black and Latinx families have to learn how to protect and preserve our assets. That means having trusts where these assets grow and where we can be directive about our intention to benefit future generations. This is one of the most critical financial concerns for our wealth – that we ensure each generation is not starting from scratch. If we don’t plan for our wealth transfer, the government will do it for us and we don’t want that.
Talk about your company Journey to Wealth & what its mission statement is.
JTW “Women in Action” is a subscription-based membership community that creates a safe and exciting place to learn, grow and invest with a community of like-minded women.
I believe the right money mindset combined with vital practical knowledge and powerful intention can create financial freedom for women and those important to them.
I founded Journey to Wealth (JTW), and I coach women all over the world because I truly believe the hope for the future lies with the financial empowerment of women.
The mission of Journey to Wealth is to provide women of color with the tools to create a mindset shift, get out of debt, and build their net worth – with a focus on the game-changing benefits of investing in innovative technology.
What is the #1 advice for those who are hoping to follow in your footsteps?
I feel it’s imperative that women commit to two things: curiosity and courage. The key to thriving in the wealth-building game, specifically when it comes to investing, is to be curious and courageous despite our fears. That’s the definition of courage–not being free from fear, but rather, not letting fear stop us. I tell the ladies all the time, choose courage over comfort and take action. And I offer my journey as an example of the possibilities available when we have a better understanding of how to build wealth and attain financial freedom.
What are you most excited for next?
With the changing world and what some are calling the 5th industrial revolution I have co-founded a DAO (a decentralized organization) called Disruptor DAO with women from the Journey to Wealth community. Disruptor DAO is a community-led entity with a shared mission focused on educating and securing a place in the future of Web3 for Black and Latinx women.
I am very excited about Web 3 (DAOs, Metaverse, NFTs, DeFi etc.), and I see that there are far fewer barriers to entry in Web 3 than in any other industrial revolution. We are still in the very beginning and can we shape the space and create unprecedented opportunities for otherwise disenfranchised communities.
Both Journey to Wealth and Distributor DAO’s missions are to empower black and Latinx women with the knowledge, skills, attitudes, and behaviors to build for generations to come. I feel fortunate to be able to do this work at this time in history.