Episode 358: Navigating First Generation Wealth + Helping Family With Finances With Maria Melchor
Journey To Launch
Jamila Souffrant
5 • 1.7K Ratings
🗓️ 24 January 2024
⏱️ 45 minutes
🧾️ Download transcript
Summary
Maria Melchor, financial educator and creator of FirstGenLiving, joins the Journey To Launch Podcast to talk about her experience being the first in her family to build lasting wealth in America and how she built FirstGenLiving into the successful business it is today.
We also talk about taking on student loan debt to avoid burdening parents with school expenses, “survivor’s guilt,” the fallacy of the “working harder will make you wealthier” narrative, and more.
FirstGenLiving began in 2020 and reaches an audience of 130,000+ across social media platforms. FirstGenLiving provides personal finance education tailored to the experience of first-generation immigrants, students, and professionals in the United States. Maria has been featured in outlets including CNBC, Univision, and Money Magazine.In this episode you’ll learn about:
- How Maria’s immigrant background shaped her journey and influences her finances
- The challenge of raising second generation kids with grit through intentional parenting
- Guilt and anxiety surrounding making more money than anyone in your family
- Navigating helping family financially, starting an online content creation business, pitching yourself to loved ones, and more
Other Links Mentioned in episode:
Transcript
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| 0:00.0 | You know that in the US you don't need an immigration status to invest in the |
| 0:09.6 | stock market or to open a bank account, there's no like national rule, federal rule saying that you can't set up your finances. |
| 0:21.0 | As an immigrant, you may just encounter a few more roadblocks to setting up |
| 0:26.1 | your finances in the US, but you're not not allowed to do it. T-minous 10 seconds. |
| 0:33.0 | Welcome to the Journey to Launch Podcast with your host Janila Sufrant as a money expert who walks her |
| 0:40.0 | talk. |
| 0:41.0 | She helps brave journeyers like you, get out of debt, save, invest, and build real wealth. |
| 0:47.0 | Join her on the journey to launch to financial freedom in five four three two one |
| 0:57.0 | If you want the episode show notes for this episode go to Journey to |
| 1:06.9 | launch.com or click the description of wherever you're listening to this |
| 1:11.1 | episode in the show notes you'll get the transcribed |
| 1:14.5 | version of the conversation, the links that we mentioned, and so much more. |
| 1:19.4 | Also, whether you are an OG journeyer or brand new to the podcast. I've created a free jump |
| 1:24.9 | start guide to help you on your financial freedom journey. It includes the top |
| 1:29.4 | episodes to listen to, stages to go through to reach financial freedom, resources, and so much more. |
| 1:35.0 | You can go to Journeytolaunch.com slash Jump Start to get your guide right now. |
| 1:40.0 | Okay, let's hop into the episode. |
| 1:43.0 | Hey, hey, journeyers. |
| 1:46.0 | Welcome to the Journey to Launch Podcast. |
| 1:48.0 | Today I have on Maria Melkor, who is a financial educator and creator of first-gen living. |
| 1:55.4 | The first-gen living, Maria Taylor's personal finance education to first-gen professionals |
| 1:59.9 | eager to become the first in their family to build lasting wealth in America. |
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