Episode 41: How to Make Money Forex Trading with Nia Imani

Acquania Escarne 0:03

You are listening to the Purpose of Money Podcast, a podcast where we talk about ways to build wealth and create more freedom in your life today. I am your host Acquania Escarne.

Hey, welcome back to the Purpose of Money podcast. I'm super excited to have season three, we are going to have some amazing interviews with women who are building wealth and sharing their tips and stories with you guys on the podcast. I have a lot to catch you up on since the last time we had an episode. I had a birthday in August, I turned 38. And I was so excited to share my birthday with you guys. I also launched a birthday bundle with some amazing digital products a never before released spreadsheet, on how to budget for a full year, as well as access to two of my master classes, one on setting SMART goals and how to achieve them and the other on five budgeting mistakes to avoid to help you in your budgeting journey. And then I also gave you access to my standard spreadsheet bundle where I share a simple monthly budget if you want to just do paycheck to paycheck or month to month budgeting. In addition to my asset trackers, you can track how you're building wealth, and my debt paydown tracker.

I want to thank everyone who supported the birthday bundle because I really appreciate you supporting the Purpose of Money but also getting your money and finances in order. I plan to have a lot more surprises this month because September is also the third anniversary of the Purpose of Money. So we are going to be sharing and celebrating all month long tips, tools and prizes to help you on your financial journey. And last but not least, September is also Life Insurance Awareness Month. So I'm going to be sharing some important facts about life insurance, and also tips and tools on how you can use it to significantly build wealth and leave a legacy for your family. But without further ado, I want to hop into this first episode of season three, featuring Nia Imani from Fabulous Life International. She is an amazing young woman out of Atlanta, Georgia, who is helping women build wealth through trading foreign currency. Some of you may know this industry as Forex. I've never had a guest talk about forex trading on the podcast. And I'm glad to have her here today to break down how you can build wealth through this strategy and how she's helping women through her live courses. Learn the process so they can build wealth through foreign currency exchange to.

So hop into the episode, take notes. And of course if you want to connect with Nia Imani, listen to how to connect with her at the end and hit her up. She is always willing to help more people. Thank you again. Until next time, keep building generational wealth.

Hey guys, welcome back to the Purpose of Money podcast. I'm super excited. Today we have special guest Nia Imani. She is a mother of three and is affectionately called Love by her grandbabies. She is the legacy lifestyle expert at Fabulous Life International. Her company educates women how to consciously create generational wealth and you know how I love to talk about generational wealth because that is the Purpose of Money. Nia Imani expanded her platform by opening the doors to the Legacy Tribe University her online course platform. She is also honored to give others an opportunity to create their own success stories. LTU is designed to facilitate transformational topics that are rooted in the richness of her personal and professional experiences, which don't worry we're going to talk more about today. She is also a purpose driven lead her who established the legacy tribe, a manifestation community for women that are intentionally elevating their higher self. There is so much more to say about this amazing woman. We had an amazing conversation when we first spoke, but I can't wait to talk more about her journey on the podcast today.

So let's hop into this conversation with our award winning entrepreneur with over 20 years of experience in the finance and real estate industry. Nia, how you doing today.

Nia Imani 4:58

I'm excellent Thank you so much for having me.

Acquania Escarne 5:01

Of course, let's talk about this impact that you've been having on women in the world. I was really drawn by you and your story. I met you, quote, unquote, via Instagram, but we connected on the phone. And I knew after our conversation that I needed to have you on the show, because I was just so inspired by how you been an entrepreneur for over 20 years in the real estate space. But then we also share a passion for helping women build generational wealth. So before we hop ino that, I want to talk a little bit more about your journey to this point. And what is it that inspired you to launch your platform and your online courses? You know what, what was in Nia Imani his life before you were a successful entrepreneur that you are today?

Nia Imani 5:52

Wow. Well, to begin, I like to tell people, I'm a survivor of everything. And when I say everything, I mean, teenage pregnancy, domestic violence, I dropped out of school at 16 years old, I actually never went back to school, I don't have a high school diploma or college degree, I've been homeless, you know, in an effort to escape the domestic violence relationship that I was in. But one of the things that was always in me was a ability to fight and an ability to see life on the other side of my situation. So I've never, even at my lowest points of life, never allow those circumstances to define my future. And that alone just kind of created like this fire in me to do something different on behalf of myself, and on behalf of my children. And so that's basically where that seed was planted, to build generational wealth. And honestly, it just kind of innately came about, I never heard the word before, I didn't even know what I was doing. But I was just heading towards a path to just, you know, change the trajectory, and rewrite my history. So I just went into this mode of, I'm going to be better I'm going to do more, I'm going to expose my children to things that I never learned when I was younger. And I made a commitment over 20 years ago. And I'm still doing that today. And my children have, you know, embodied that spirit. And then I'm fused all of that passion and that purpose into Fabulous Life International and created what we have today. So im excieted.

Acquania Escarne 7:49

I love that. And, you know, you, you gave us a lot. So I want to unpack that a little bit. Because not every teenage mother is able to take control of her life, escape domestic violence situations and become a success story. So tell me, you know, after having a child at such a young age, what was your blueprint? Did as besides being motivated to change the trajectory of your life? Did you have mentors to help you, or anyone that kind of steered you in a direction of how you can still succeed without finishing school, going into real estate, for example, where you could study for an exam, become a realtor and make money that way? How was that opportunity presented to you?

Nia Imani 8:37

Wow. So my first entry career into finance world was a temp job at Bank of America. And it was so funny, because I was still like, hot girl, back then right, and I'm like I'm here now, and I was late to the interview. And so when I got there, I looked at the clock, I looked at the lady and I was like, I'm here by two o'clock interview. And it was clearly at like 12. So she let me go ahead and interview. And that was the beginning of a new me. When I started working at Bank of America, it just really opened me up to the other side of money. Because I was working in the IRA department, the stocks, bonds and mutual funds was our same floor, and me, coming from the heart of hood. And being able to see this environment where people are saving and investing money. I was like so intrigued. And I was also curious because there was women that was way older than me that have been there forever and it was just kind of going through the motions but I wanted to learn I wanted to go ask questions. I started getting mutual funds and things like that and IRA set up even back then. And, you know, keep in mind, the only people that I saw that have money in our neighborhood was the drug dealers, the killers and stealer right. And so all of this was so new to me, but it was like, just the the heavens had open. And it was like my answer to my silent prayer, you know, to just God expose me to something different, something that I've never seen before, something that's going to help me open up doors for my children, and just live a better life.

So Bank of America was my first door into finance. And then from there, I actually bought my first house while I was working at Bank of America, I was making $12 an hour. And I was always good at saving money. So I was able to buy my first house. And then from there, a young lady called me and asked me about refinancing. Even though I knew I didn't want to refinance, we hit it off, kind of like, when I hit it off, I've always had this personality. Um, so we were just talking and stuff. And she said, You know, you have a really great personality. Have you ever thought about doing mortgage loans, and I had never done mortgage loans before, but me and my tenacious self, I was like of course, you know, I'm pretty sure I'll be good at that, you know. And so she called me up, and she said, if I get you to an interview, would you come out, I said absolutely. Becasue I was, when I bought my house. I was commuting probably for an hour to work because of a different city. And so I went to the interview, I got the job. And that's basically how I became a loan officer by a telemarketer calling my home about refinance. And, um, and I took the job, and I did, you know, really well, there, but the entrepreneurial bug bit me, and I met a gentleman in an insurance class, back then in 2000. And I was on track to get my insurance license, but he told me about government contracting, and so that it opened up my eyes to something else that I could do. And he introduced me to a gentleman his name was Michael Pugh. He took me under his wing, and became one of my mentors. And he basically walked me through the government contracting process, I was 24 years old.

Remember, I was the little girl from the hood that just had a desire, right? strong desire to break generational curses of poverty, prison pain, my kids father was going in and out of jail. So I just wanted to just I really, really wanted to do something different. And so I got that opportunity. He helped me with my first contract, and then he loved me so much, he would just over bid on stuff and then give it to me. So within less than a year, I had a seven government contracts. And during that time, I got married, and we're not equally yoked at all.

Unknown Speaker 13:19

And I was very motivated, very tenacious, very ambitious, and he was just kind of going through the motions, right. And so that marriage didn't last long. And I made a decision that I was gonna sell my home and move to Atlanta to do real estate investing. I didn't, I had never even been to Atlanta. I didn't know anybody in Atlanta. And I just took the initiative to put my home on the market it sold in like two weeks. I winded up selling it for over $100,000 more than what I bought it. And I just took like a real estate investor google class, and I was off to the races. I was coming to Atlanta to do real estate investing. And that's exactly what I did.

Acquania Escarne 14:18

I love that story. I'm from Atlanta. So I always love when anyone has success in my hometown. But I'm just so amazed that how you went from one opportunity to the next and you were constantly growing, which is super important. And you found the right people and I say that's nothing but God because if anyone else has showed up at two o'clock for an interview that was at 12, they probably would have been like chick you're not getting this job. We going to waste our time, but they they interviewed you and you still amaze them and look at the journey that you've been on.

So let's fast forward to now you are living your best life. You've had full career in real estate and I know that you're looking at transitioning again in your life. What is it that motivated you specifically to start your online platform and help women, also their mindset build wealth, you know, in different ways, because I know one of the things that you focus on that I've never had anyone talk about on the podcast is foreign exchange. But I also want to talk about your platform and what you work on first. So a woman who wants to build generational wealth and go through your program, what are some of the things that you focus on first?

Nia Imani 15:41

Okay, so the evolution of my business started out in real estate, and then I went into consulting, because I always have had this innate ability to inspire women, that has always been the foundation of everything that we do, and inspiring them to create generational wealth. As I was leading by example, right. One of the things that hit me like a ton of bricks during my journey, was that I had a whole bunch of like, hidden trauma, and challenges, mental challenge that I had not had the opportunity or the capacity to address. So what happened was, I would build something and blow it up, I would build it and blow it up. Because I was just so emotionally damaged. And I was very, I had a lot of walls. Even though I was having a lot of success, I was having a lot of challenges, because there was so many things that I mastered. But their was one of the things that I wasn't good at. And that was because human. I didn't know how to hurt, I didn't know how to ask for help. I didn't know how to do any of those things. Because I've never been in a situation where I had the ability to do that, right. I was just like one accomplishment after the other, and I was just chasing ambition.

And so when Fabulous Life International started evolving, I came up with our Signature Course, which is the wealth methodology, and wealth broken down is women emerge and live through here. Because actually, their wealth is so much more than money. And I learned that the hard way, I can make money very easily. I can adapt to opportunities, I can execute. I can envision things. But I really needed to do a lot of work on my mind. So what we do with our wealth methodology is we walk women through a trilogy of principles. And the first principle is mindset wellness, because that's the journey of self discovery and personal peace. I want them to have a healed heart and a sound mind. And then we work on vision manifestation because I believe that once your heart is healed, and your mind is quiet and aligned, then you can see the vision is so clear. And you could go from concept to completion very easily, I have been able to faster manifestation. And so I can do that, you know, for myself. And I encourage women to just pull those creative ideas that are already within them, and bring them to fruition. And then lastly, we talk about legacy. So legacy planning came about because of course, I have a background in real estate and finance. And then in 2017, I got my life insurance license. So we tie all of that together. So we talk about money management, which is the cornerstone and a foundation of everything that you're going to do, and legacy planning because you can make a million dollars, you can have a six figure, income business or job. But if you don't know how to manage your money, it doesn't matter. So we start with money management and legacy planning is basically the preparation of transferring wealth from one generation to the next. And so we talk about real estate, we talk about life insurance. And then lastly, last year, I learned forex. And so we've incorporated forex as one of our cash flow opportunities in our legacy planning division because it's a way for you to make a significant amount of money from the comfort of your home, and I wanted to make sure that we had a well rounded approach to legacy planning. So the wealth methodology covers everything that I am personally about Professionally, and I'm able to offer that to women.

Acquania Escarne 20:04

That's excellent. So what exactly is foreign exchange or Forex? for those who've never heard of it or are not familiar with this wealth producing cash flow strategy, can you define it for us and then explain how it's used in an in your class or even by investors.

Nia Imani 20:26

Absolutely. So, for forex is short for foreign exchange market, so the foreign exchange market is a is similar to the stock market, but like my son says, it moves 10 times faster, and it has a lot of differences, then the stock market because forex is basically exchanging foreign currency. So for example, you are trading the Great Britain pound against the US dollar, you are trading the Euro against the Japanese yen, you are trading the Swiss franc against the against the the New Zealand dollar. So there's so many different currencies that you could exchange and you're basically going in and taking either a buy or sell position. What I like about the foreign exchange market is that you can make money in increasing markets or declining markets, unlike the stock market, we're typically you only going to be able to make a profit when your stocks or your shares increase, right. And so forex we're typically in and out of the market in a relatively short period of time, I have adapted and learn the scalping strategy. So that's a short term trading strategy. But they do have more long term like day traders, you probably heard that. And then they also have swing traders. So swing traders can stay in a trade for months, up to a year. But I have basically created a systematic approach and, and a formula that my clients, aka students can follow and become profitable in the market and my courses only four weeks. But by week three, they are already understanding the foundation of forex and being able to get in and out of trades. And by the fourth week, which is graduation week, and review, they are coming to the table, and they have already been able to make a profit.

Acquania Escarne 22:44

I love that. So you're teaching women the basics, the opportunity to actually apply the knowledge and even make money by the end of the course. So they could essentially make their money back. Right?

Nia Imani 22:58

Absolutely. That is the goal is for them to be able to make their investment back, which is only $144. Our course is four weeks is two hours, every Tuesday. But the way that I learned was not the way that I teach. The way that I learned was very chaotic. It was no system, there was no process or procedure. And I'm a very, like, methodical person, right? You know, my mind works 123 step one, step two, step three, in everything that I do, there is going to be a concept or there's going to be steps that you follow. I just always been that way I run my home that way, you know, I run my business that way. Um, so I created when we call the six figure strategy, and then I broke that down into 10 steps. And I've learned blood, sweat and tears, what to do and what not to do. When I was learning. I stayed up almost 24 hours sometimes, you know, I'm really, you know, because the market is open 24 seven, they have the London session, which is like 4am to 8am I will be on that session learning. I will be on the New York session which is 8am to noon, I will be on the that. I will be on the evening session, which is the asian session from 8pm to 12am. Literally, you know fighting to obtain this information even though they were throwing out like darts literally you had to like just catch what you can catch on but all of that I believe my 15 years of experience in the real estate and finance industry basically allowed me to take all of those pieces of the puzzle that I was thrown and be able to go Create a systematic approach to the Forex market, which is extremely complicated. By the way, I make it sound easy, because just, I just have it that inner genius kicking in and be able to understand it from a layman's terms, and be able to communicate it to my clients so that they can understand it, and then apply the information and see profits right away.

Acquania Escarne 25:34

So how much money does someone really need to get started? In forex trading,

Nia Imani 25:40

You can start with as little as $50, my initial account that I started a year ago, I started with $50, my goal was to turn that $50 and a $500. And I did that in a month. And then I just kept growing it from there. And mind you at that time, I still didn't really know, you know what I was doing. But, um, yeah, you could start with as little as $50, you just start with 500, you can start with 1000, you know, of course, but I always teach my clients is to keep your leverage low, and focus on making accurate decisions and understanding what you're doing. And then once you actually get the concept, and you see a pattern of successful trades, then you can increase your lot size, and then that will accelerate your income. But my goal is to get them to six figures, which is three to $500 a day what you could do that very easily. But it does take some time, and effort, you know, in order to understand when to get in when to get out. And just it's timing is everything and forex.

Acquania Escarne 26:55

Okay, I like that. And how much time in a day do you need to commit to this because I understand, you know why you were in your learning phases, you were up all hours of the day, getting into different markets, but does a mom who has a nine to five and is looking to do this as a side hustle that she needs to commit that many hours a day? What's the minimum to really get that $50 into $100, and then slowly increasing it from there?

Nia Imani 27:24

Yeah, I like how you broke that down, because that's exactly what I tell my clients, you know, I will consistently make $50 a day, I will. And this is like affirmations that I have them say, I will consistently create $100 a day, I will consistently create $300 a day, I will consistently create $500 a day. So basically, with me as their professor, um, that time frame has been dramatically cut down, you know, my whole purpose for this course, our six figure course is to decrease your learning curve, and be able to help people increase their income right away. Um, so I mean, it really depends. But you can have two hours, four hours, you know, because I have everything laid out for you is not sporadic to where you're looking on YouTube. And you're trying to read, you know, this material over here or watch this video over here. No, because that's how it was presented the information, they have slides and everything is broken down per week. And everything is very neat and accessible. And then they have access to me also. So I communicate with my students three ways live class on Tuesdays, they could do one on ones if they have additional questions throughout the week. And then we do live q & a Thursdays as well, I don't have a lot of students who sign up the live q & a Thursdays. That's because I'm so dope. And they you know, oh, collar popping or what have you. But um, but yes, I don't have a lot of students that come through q&a Thursdays because they either get their answers on the live class and refer back to the material because if they send me a message, I'll say that's in chapter two page dadada you know, um, so or they can schedule a one on one and then I'll spend some time with them just kind of clarifying things at that point. It's not like they're just lost, but they just have some additional questions. So their time that they need to commit I would say depending on what time they have available, it could be two or four hours a day. are two to four hours every other day. It just really depends on what their availability is.

Acquania Escarne 30:07

I love that I love that flexibility. And I think that everyone is looking for passive income. I talked to a couple people today whose goal is passive income, passive income. For some people, that's real estate, land being a landlord renting out properties. For others, it could be making money in the market, and now you're introducing the foreign market as a great way to do it. And we've been people have been doing this for centuries. So why shouldn't we, as black women be a part of this too. I love what you're doing to break down the concepts and make the barrier for entry lower for us and helping us do it wisely. Because I do think you can lose a lot of money trying to figure it out on your own. And I appreciate how you took your experience and packaged it up in a much better presentation.

So now I want to talk more about you and your vision for yourself and your company. You know, what is next for you, as you continue to embark upon your journey to help and inspire women

Nia Imani 31:12

To just grow. I'm excited a backhaul, this the second season of success for me. Because I have been an entrepreneur for so long. I mean, I ran, I hustled, I fail, I made a lot of accomplishments, I manifested a lot of stuff right along the way. So now I feel like I finally answered my like ultimate quote, because I've always been a teacher, I've always inspire people. And I feel like through our online university and our manifestation community, I get to operate in the fullness of me. And that's the core, that's the soul, that's the support. So my ultimate goal is to be teaching, training, and traveling. So in that order, and I prayed for this, and I asked God, you know, to just give me an opportunity to be in that position. And again, you know, as my company evolves into our education platform, and then our membership platform is going to allow me to get out and meet more people to share our message and our methodology with people.

We actually offer the wealth methodology complimentary. People don't even have to pay for that. Because I want people to be exposed to that. So that is our signature course. And we give that away, I do signature talks about it. And then if they are interested in taking a more specific study path, like if they just want to focus on mindset wellness, we do have that course elecard available. But in reference to being exposed to the concept in general, I had to give that away, because that's just how I am. But yeah, for the evolution of everything that I'm doing would be to roll a very large, enrolled, subscription of clients and students that are taking our courses, we're going to be adding some more courses to our curriculum, and then also our membership platform, being able to grow our members and being able to expose them to the services that we have available, being able to get their businesses and take those to the next level. We do have a profit share that we offer our members so they help us expand and they you know, expose our membership community to other women we share profit share with them also. So you know, the sky is pretty much the limit out I'm just looking forward to meeting a lot of new women, we're going to start our higher selves summer series, which is a brunch, dinner party, um, yoga, meditation, whatever I'm feeling we just started doing like pop ups and really just bring everything like I said, the company that we offer to the table allows people to bring their dream their higher self to the table and be loved on and be supported and edify and all that they do.

Acquania Escarne 34:40

I love that let's get people back outside and networking, connecting and thriving together. That's beautiful. If I'm in Atlanta, which I will be soon I definitely want to take part in one of your events or just connect in any way we can. So the name of the podcast is called the Purpose of Money. I do ask every guest this question, what is your purpose for money?

Nia Imani 35:05

Wow, my purpose for me is to do exactly what legacy planning is. And that's to transfer wealth from one generation to the next. It's not really even about me. It's about my children. It's about my grandchildren. It's about the lessons that my grandchildren will learn from us and my children, and be able to, you know, just keep that ball rolling. So the purpose of money for me is to create a lifestyle that is encompass of so many different experiences and opportunities that we'll be able to live on for generations to come.

Acquania Escarne 35:47

That's such a beautiful answer. Nia Imani. I am so blessed to have you on the show today. And your story is amazing. The just experiences that you've been through to lead you to where you are today is nothing but God working through you. I can tell I can feel it. And I'm super excited for what's next for you and your second season of success. So I want you to keep going. I'm here to support and I want my listeners to support you too. So please let us know where can they find and follow you on social media and on your website.

Nia Imani 36:23

Social media, you can find me Nia Imani, just make sure it has a Fabulous Life International because there's a lot of Nia Imani out there, believe it or not. And then our website is thewealthmethodology.com that's going to lead you to everything that we do. And I just look forward to connecting with each and every one of you, however, way that I can support what you're doing and connect just like we were able to connect. I'm also looking to take those online relationships offline and give me some new sister friends.

Acquania Escarne 36:55

Yes, let's do a alright guys. So you heard that I'll make sure to include all the links in the show notes. I hope that you reach out following Connect. As usual. If you liked this episode, please share it like it subscribe. I want everyone to get this knowledge because this is important. Until next time, keep building generational wealth.

Thank you for listening to the Purpose of Money podcast. For more resources and information, check out my website the purposeofmoney. com. And while you're there. Please sign up for our newsletter so you have the latest information on new episodes and blog posts. Until next time, keep creating freedom in your life today.

Transcribed by https://otter.ai