Read our latest Power Moves on Lyndsae' Peele, MBA. She is the CEO of Kingdom Vision Consulting @kingdomvisionconsult, a Financial Wellness Coach, and Director of O'Hara Development @oharadevelopments.
How would you describe your life as an entrepreneur? Life as an entrepreneur has been a very spiritual journey for me. It has taught me a few valuable lessons.
How to truly surrender my wants and desires for God's will over my life. His will is always best and will grant me the desires of my heart only if I commit to releasing control and leaning into Christ in all things even if I'm afraid, feeling overwhelmed, or just don’t know which way to turn.
How to trust me and believe in my power. We all have a purpose, power, and a position to serve in this lifetime, we just have to understand it, believe it, and walk in it. This will take you being confident in your ability to be all that you can be even if you don’t feel like you’re ready. Trust that you have been called for a reason.
I've also learned that I can design the life of my dreams that includes building tangible and intangible wealth that I can proudly pass on to my heirs on my terms. Money is a tool and whether you are a full-time entrepreneur or part-time, you decide how you want to trade your time for money to reach your goals.
Biggest inspiration? My biggest inspiration would be my parents. They have taught me how to be resilient in entrepreneurship. Growing up, I saw my parents make sacrifices that I didn’t always understand in order to build a profitable business. I saw them be relentless about their dreams and get up every day to make them happen. At 70 years old, my parents still rise before me and take much pride in running our family business that has provided such a fruitful life for me.
What is one thing you wish minorities were more knowledgeable about when it comes to homeownership? I wish we knew more about the benefits of owning multiple properties. Most of us are still aiming for the “American dream” of owning a big house with a white picket fence and our real estate dreams stop there. While I am grateful that more minorities are dismantling myths and are challenging preexisting systemic issues in pursuing homeownership, I want them to know that there are opportunities out there to build wealth through real estate even if they do not desire to be a landlord. We commit to 30 years of one mortgage without thinking about how to truly capitalize on the biggest industry in the world, housing. We tend to think that owning multiple properties is out of our reach as people of color, it's not.
Resources such as Airbnb, the traveling nurse industry, and remote work has presented us with a record number of opportunities to create passive income in the simplest of ways.
What’s your investment philosophy? Understand your risk tolerance, understand what resources you have available to you, understand your current financial position, and understand that not everything performs the same.
I believe in diversifying your assets and investments to protect your overall wealth. Every industry and investment vehicle has its ebbs and flows but not always at the same time. You want to learn how to manage your portfolio in a way that if your brokerage accounts aren't performing that well, your real estate portfolio can cover that loss or vice versa. You never want to put all of your eggs in one basket, instead, think about how to create multiple streams of income through your investments beyond dividends and market growth.
Advice you would share with someone looking to follow a similar path as yours? Create intentional daily habits that can position you to be in control of your life, your goals, and how you achieve them. Take a chance on yourself, you are your biggest asset. Don’t forget about your needs and desires while you’re focusing on the needs of others in the marketplace. Connect to a higher calling, you cannot follow your dreams and build a sustainable business with your strength alone. Commit to your purpose and the money will follow.
The most important thing you would want minority people to know about building generational wealth.
It will not happen overnight. We have to train our minds to see our wealth journey as a marathon and not a race. Our people didn’t get here overnight, and we won’t reverse this generational poverty cycle overnight. Learn how to be in full control over your finances including your wealth mindset, how you manage your funds, and how to properly set SMART goals. Generational wealth doesn't just relate to tangible financial assets, it also includes intangible things like our mental and physical health, our emotional health, and our spiritual health. We have to redefine what wealth looks like for us on our terms.