From Food Stamps to Millionaires, I Share Our Secrets: Episode 310

On this episode, I’m sharing how my husband and I went from food stamps to millionaires. Now, I don’t normally like talking about money. I never want people to think I’m bragging. It’s always to say, look what YOU can do. Hope this episode inspires you, and makes you think how much your life can change in such a short period of time.
On this episode, I’m sharing how my husband and I went from food stamps to millionaires. Now, I don’t normally like talking about money. I never want people to think I’m bragging. It’s always to say, look what YOU can do. Hope this episode inspires you, and makes you think how much your life can change in such a short period of time.

Get resourceful (5:31)

“It’s not a lack of resources that keep us stuck, it’s a lack of resourcefulness.” -Tony Robbins

Back when we were on food stamps, it would have been normal to say “I can’t afford it”

But I knew we couldn’t stay in that place.

I remember going through our house selling everything we could to be able to make an investment in myself.

I knew my son deserved a better situation.

Instead of thinking that’s how things would always be, I asked myself how I could get out of that current situation- I knew it was possible and found a way.

 

Get a vision (6:51)

You gotta know where you’re going, what you want, and WHY you want it.

Get that crystal clear in your mind.

Know what reality you want to create for yourself.

 

Invest in Yourself (7:11)

A few of the first personal development books I read:

  • The Compound Effect: by Darren Hardy
  • Eat That Frog: by Brian Tracy

These books taught me so much.

It taught me this formula:

Invest 3% of your income back into yourself.

Always have a budget for investing back into YOU.

I personally wanted to up it, so I have been investing 10% of my profit back into myself in personal development. This can mean courses, summits, seminars, live events, etc.

The growth you can have from learning from other people is exponential and needs to be a part of your strategy.

 

Know Who You Need to Become (8:15)

“The question we should be asking ourselves is who do I need to become?” -Darren Hardy

Who you are now, is not

Past Rachel was staying at a super shady motel, so dirty, known for drug dealing, and had bed bugs.

She stayed in watching reruns of Grays Anatomy.

That is not me anymore. I’ve grown!

And I knew in those days that’s not the best version of myself and who I want to be.

What are characteristics you see that millionaire version of yourself doing? Does she get up early? Does she have a morning routine? Have a healthy diet? Implement those things now. BE who you want to BECOME.

 

Hang Out With Millionaires (9:58)

What happens when you hang out with people more successful than you? You up level. You begin to rationalize making that money, their habits, their mindset.

Remember: You are the sum of the 5 people you hang out with most.

My coach?

Millionaire.

Masterminds I attend?

Curated for higher caliber entrepreneurs.

I surround myself with like minded entrepreneurs who push me. What are the traits and characteristics that they have, so I can adopt them too!

Show up powerfully and surround yourself with people who are more successful than you. You WILL up level.

 

Think Like a Millionaire (11:55)

“Before you can become a millionaire, you must learn to think like one!” -Thomas J. Stanley

“How do millionaires think?”

“What would a millionaire do in this situation?”

As you’re going through your business, and life, don’t think of every problem as the end of the world. Instead, think like a millionaire. Realize that every situation is an opportunity to grow.

 

Help People (12:18)

When your focused on adding value, and helping people, the money is a natural byproduct of that.

Every day show up and think how can I help somebody today?

If you do this, and show up eager to HELP, the money will follow.

 

Diversify your income (12:47)

The average millionaire has 7 streams of income. You’ve gotta diversify.

I have so many past podcast about diversifying income:

  • Investment’s We Made
  • Our Rich Journey

Passive income is key.

It’s really hard to trade time for money and earn 1,000,000.

It’s much easier to invest! So you’ve gotta become an investor.


I highly recommend the Our Rich Journey investment course:

(Sign up here: https://ourrichjourney.thinkific.com/courses/InvestingforFIRE)

 

Track Your Progress (16:48)

We have a net worth tracker, I go in the 1st of every month and track all our investments.

We look at what’s grown and track our numbers so we can always keep an eye on investments.

 

What’s Changed Since Becoming Millionaires? (17:05)

After I saw we’ve become millionaires, we realized nothing’s really changed. It’s a huge deal, but our lives remain very similar.

In episode 183 and 293 I talk a lot about how we haven’t really increased our standard of living, because we have the goal to retire by 40.

Don’t celebrate and be done, have a what’s next to continue to work towards, so you can continue to grow!

 

Millionaire Mindset Quotes:

“It’s important to be willing to make mistakes. The worst thing that can happen is you become memorable.” -Sara Blakely

“The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking any risks” – Mark Zuckerberg

“Become a millionaire not for the million dollars, but for what it will make of you to achieve it.” -Jim Rohn

Watch Full Episode:

From Food Stamps to Millionaires, I Share Our Secrets: Episode 310

Thanks so much for listening! Comment below with your #1 takeaway!

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Rachel Ngom is the host of the She’s Making an Impact Podcast. She is a business and lead-generation expert, helping purpose-driven entrepreneurs create more freedom in their businesses so they can spend time on what matters most.

Rachel went from being on food stamps with negative $400 in her checking account to a millionaire by 34 while working 20 hours/week. She now helps others do the same with her signature courses and programs.

Rachel has lived in Kenya and Senegal, got married in Morocco, and spent 2 years in France.

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