Precious LaTonia Williams (00:50.282)
All right, savvy ladies, welcome back to another exciting edition of the Power of the Ask podcast. Today's theme, we'll be talking about shifting the financial mindset. And with my great co-host, Queen Lisa, she's gonna introduce the guest and we'll get started. Take it away, Queen Lisa.
Lisa Zeiderman (01:08.713)
Thank you so much, precious. It's such a pleasure to be here again with you and actually doing the Savvy Ladies podcast, The Power of the Ask. And today we are so fortunate to have Lizetta Rainey Braxton with her MBA and her CFP. And from her, it's all about doing the work. And...
Lazetta Braxton is passionate about amplifying culture and talent and life and money. And she does it through financial planning and public speaking and writing. And she is probably one of the busiest people I've ever seen, actually. Lizetta is a co-CEO of 2050 Wealth Partners, where she provides access to financial planning to individuals and families who are probably so fortunate to have her and who desire financial freedom experience give and make a difference for their family and their future generations. And of course, because Lizetta is the woman who could do it all. She also has a consulting practice, Lizetta and Associates, where she employs a no fear, no shame zone to help financial services firms nurture culturally aware and hospitable workplace environments. And Lizetta, we're going to definitely talk about that because that's so incredible.
Lazetta Braxton (02:09.471)
She also has a consultative business of her associates where she applies a new field, the notion of zoom to help financial services from a larger culturally aware and has been a workplace in environments. And so we're gonna talk about that because it's still incredible. This is a true.
Lisa Zeiderman (02:28.972)
Lizetta is a true entrepreneur and she is so dedicated. She was named as a Crain's New York Business notable black leader and executive, as well as one of the top.
Lazetta Braxton (02:34.488)
So, thank you. Thank you to the creative business, the black leader and executive, and well, as we have talked about.
LisaZeiderman (02:39.84)
10 of Investopedia's 100 top financial advisors for three consecutive years. She has been honored by Investment News as one of its inaugural Women to Watch, an Excellence in Diversity and Inclusion recipients. She also received the Association of African-American Financial Advisors Leadership Legacy Award, and if that was not enough, and the Heart of Financial Planning Award from the Financial Planning Association. It's not surprising.
Lazetta Braxton (02:45.099)
except for the US. She has the power of the US.
Lazetta Braxton (02:55.647)
She also received the Association of Grand Prix.
Lazetta Braxton (03:07.435)
Association. It's surprising. Listen to that. She has appeared on the NBC Daily News with Lester Holt. She has appeared on the Daily Business Report. CNBC is closing down on Shutter News. And she writes and writes on topics that are related to culture and culture and
Lisa Zeiderman (03:09.734)
Zetta has appeared on NBC Nightly News with Lesta Holt. She has appeared on Nightly Business Report, CNBC's Closing Bell and Cheddar News, and she writes and writes on topics that are related to culture and talent and wealth. Member of the CNBC Digital Financial Advisor Council. She is a big contributor. So Lizetta, we're gonna turn it over to you to tell us something I didn't say about you and I'm sure there's a lot because you must be one of the busiest ladies in town.
Lazetta Braxton (03:43.158)
I want to say that I don't feel busy. I just feel blessed. And it's so wonderful for me to be able to share what you asked of me, what's not on here. And that is being the proud mom of my daughter, Karis, who is now a freshman at Yale.And also a four-legged dog, Samson, for which my husband, Brad, and I are very proud of our children and the work that we're doing really is to advance the next generation, to put some good energy in the world, along with the animals and the trees and the nature, and really celebrate our ability to really impact lives really impact life.
Precious LaTonia Williams (04:38.302)
Well, we can definitely understand that. So one of the things that, can we be real? Can we go there right now?
Lazetta Braxton (04:44.915)
That's the only way that I know.
Precious LaTonia Williams (04:46.842)
Okay, so when we usually hear about financial news, it really is talking about the top 1% and what they are doing. But you're really talking about leveling the playing field for the other 99% within the workforce, within companies, with women, Black and African American women, so that they have a sense of belonging. And then with just individuals, period. Why is that so important to you?
Women, minorities, and others who are in the 99% as opposed to, let's just talk about the 1%.
Lazetta Braxton (05:23.667)
You checked off the box for me, women. Minorities, right? At the point, not a part of the 1%. But really, it's not about me. It was really about my parents, who also checked off the boxes. My mom and dad were high school sweethearts. They married right out of high school, had me, and so I saw them struggle with money. And so I was just wondering, it was a matter of education, systematic issues, or a combination of the two?
And I believed and saw how money really supported people's lives and provided happiness. When people say money doesn't provide happiness, I'm like, that's a lie. Try poverty. Try not having a lot of resources. Yeah. And so because I could see and experience the struggle firsthand, there was just a part of me that says it shouldn't.
Have to be this way, particularly with parents so dedicated to their crafts as a construction worker for my dad, as a factor worker turned licensed practice nurse for my mom, making money, working hard and still not having enough. And so that's my why. And it's continued to be a part of my mission of truly bringing Wall Street to Main Street.
Precious LaTonia Williams (06:48.145)
Mmm.
Lisa Zeiderman(06:49.388)
You know, I love the fact that you were so real and that you said that money does make a difference because so many people are, I think, intimidated to admit that or somehow think that it's something that they shouldn't admit. So I really applaud you for that, Lizetta. And it's such an important thing. And you are this great female entrepreneur and you know, I'm an entrepreneur also.
And I've been an entrepreneur probably since I'm 20 years old, first in the fashion business, and then having my own law practice. So I know that there are so many barriers that I've had to break down and lots of ceilings that I've had to actually try to crack. But I'm going to be really real now, too, and say to you, as a black female in the financial industry, it had to be really difficult.
And how did you break down the barriers? How did you crack that so-called glass ceiling? What propelled you forward?
Lazetta Braxton (07:54.867)
Propelled me for was a toxic work environment. I've had several of them throughout my career. And the last one was really traumatic for me. I had worked for a wealth management firm for which I was their first VP in that office. So I designed a lot of...
Precious LaTonia Williams (07:59.15)
Oh!
Lazetta Braxton (08:17.771)
protocols a lot of infrastructure and proposals for high-net-worth clients and Institutions and there was a prospective client that actually used the n-word and said are there Around it got back to the office because in fact I was the VP on this particular account. I'm glad that The news traveled back to the office, but once it traveled back as a lawyer Realized that there was no recourse because it was said in the prospect's home. And not that I really wanted recourse, I just wanted coverage. I wanted to be honored as a contributor to the team and that wasn't the case. They brought on the client. And for me, that was a signal that said, I didn't matter, that money did.
With that in mind, that impetus of saying that I will not be treated less than as my ancestors were treated, that entrepreneurship just felt like a fresh breath of air. Yes, so it has been difficult, but nothing as difficult as it was to work for a firm that you have poured your life. And I was pregnant at the time, just a lot of trauma for which there was just
Precious LaTonia Williams (09:20.139)
Ha ha!
Lazetta Braxton (09:36.371)
total disregard for my humanity and contributions. And from that point on, I said, thank God, my husband and I had our go to hell money because there was finances for us to be able to take the leap and become an entrepreneur, which means capital, self-funding. And I'm glad that we exercised and practiced what
I'm now preaching as a financial planner in terms of being able to weather as an entrepreneur uneven paychecks, trying to figure out where capital is going to come from, how many seats that you can have for clients to really serve them well and get the income that you need, particularly when you're being counter cultural into the market that you're serving, people who are not used to financial planning and dealing with a market that has also been disregarded as well too.
Precious LaTonia Williams (10:31.638)
Well, in recognizing the need for financial planning and financial knowledge and financial education, I'm sure you see that a lot of our young people are not in these conversations. They may see what's going on social media and think being an entrepreneur, it's easy. Six figures in six days. Why is it important for us to touch the next generation of women, whether they become entrepreneurs or they're in corporate America or they just do something on their own?
Lazetta Braxton(11:03.327)
Since we're talking about women and we all are in this energy of taking charge, right, the power of asking what we need, fighting for what we need, along with that sometimes comes imposter syndrome, sometimes a second guess in yourself. So I'm going to bring this to your question about financial education.
We run a lot of households. It is our responsibility, but sometimes we don't have the time to really focus in the way that we want to, and we judge ourselves for that. And then we often, because of all the stress, may misuse money and the relationship because of associated stress that is projected on the relationship with money.
And now you're thinking about the next generation. I think about Gen Z, my daughter's in this generation as well. They've seen the generations ahead of them just abuse the system over and over and over again. We still are fighting to get financial education in high schools. I mean, there's a lot of progress that's been made, but it hasn't been core in their experience. So they do have to go to a TikTok. And then parents.
Our generations are still not having the money conversation, so we're not equipping them to be courageous about having these conversations without fog, fear, obligation, guilt, and shame.
So when they're getting all this information in next generation, it's like, how can they apply it? And oftentimes when you apply, you kind of run it by someone, what do you think about this and that in the chat? And then you get all this misinformation that compounds bad decisions that makes it even worse. So it's this vicious cycle that we're trying to break.
Lazetta Braxton(12:59.455)
with having good content like this podcast out there to say information is good and so is community, trusted community and relationships to have these conversations.
Precious LaTonia Williams (13:10.114)
You know, I got to follow up on something else you said too. So in starting your own firm, going from corporate America to starting your own firm, what was the number one thing that surprised you about running your own firm? We talked about good months, bad months, but what was something else that truly surprised you that you didn't think you would encounter knowing so much about financial education?
Lazetta Braxton(13:34.047)
Such a good question. And the reason why I'm pausing, because I come from a family, particularly on my dad's side, of people, of uncles who all had a specific craft. So my dad is welder, my uncle's a carpenter. They did not translate that craft into a business. And I saw them being used in the workplace.
For their craft and not being paid well and also experiencing a lot of injury because it was hands on. And so for me, I think because I did, I got my MBA in business.
I started my first job as an auditor for Marriott, that I was fortunate enough to be exposed to the intricacies of running a business as an auditor, seeing my different family members come in and out in terms of receivables and drumming up business and working in the business versus working on the business that I don't have any problems pivoting. And that's...
sometimes hard for business owners is, you know, sometimes you got to extend yourself in debt. Sometimes, you know, you're wondering where the next paycheck is coming from. And like I said, I wouldn't worry and I'm still not. So for me, it's got to work, period. Period.
Precious LaTonia Williams (14:58.528)
Hahaha!
Precious LaTonia Williams (15:05.576)
Period.
Lisa Zeiderman(15:10.304)
You know, Lizetta, you are such a champion of the unrepresented, and you're such a great advocate of savvy ladies. And we are so grateful to have you here today. And I'm going to pick your brain a bit, because it's not every day that we get someone like you to give women the tips that they need to start out and make it all work. So what tips would you give women who are starting out who are starting out
You know, people are trying to either climb the corporate ladder or start their own businesses. What should they know?
Lazetta (15:48.115)
I am going to respond because you said those who are climbing the corporate ladder starting your own business and I'm also gonna say a combination of the two Yes, because capital is real that you need and I had to do that too. I had to work You know full-time while I was doing the part-time and the like While you are thinking about how you want to use your human capital because that's the nest is what you said
Lisa Zeiderman (15:55.257)
Great.
Precious LaTonia Williams (15:55.778)
Oh yes.
Lazetta Braxton (16:11.879)
You are your biggest asset. Remind yourself of that, that you are valuable wherever you decide to land and go, and command that respect as an asset that you are. Next is finding resources. So for entrepreneurship on that side, free resources like a score.
for business, tremendous. You can get a coach, you can get lots of resources, and it's designed to help business owners with a free tool. The next step, I would say, for those who are in the corporate environment is to study the industry well. Know your job description well. Hone your craft. Flex.
document what you've done, right? It's your responsibility to be your advocate and connect with people who are aligned with you as well. And that's an intentional job to find and identify people who are aligned with you that may be able to become sponsors to help you move forward or mentors. And what I'm driving at in both cases is...
taking yourself, your human capital as the job to nurture, providing your exposure to resources that are available to you and have the expectation that these resources are available to you. Be diligent on that. And then the other important thing, we're talking about finances. You gotta be comfortable with the numbers. And I'm not saying extensive math, I'm talking addition and subtraction.
Precious LaTonia Williams (17:54.213)
Ahem.
Lazetta Braxton (17:54.375)
what's coming in and what's going out and not be afraid of that at all. So it is not calculus. It's sitting down and knowing addition and subtraction, right, in a way that appeals to you. So it could be an app, it could be an Excel spreadsheet, it could be a back of the envelope type of situation, but know your numbers, don't judge yourself for them.Look at them and see if they align with what your goals and needs are. So when you're going to your resources
You can say in your mind you know you need to make more you've gone to salary.com and researched your job and realized you should be making more you have documented your work on your own and made sure that's aligned with your performance review so that you can earn the money and not be like the statistic like a black woman earning 63 cent on the dollar for every dollar white man earns right because you're the asset
You gotta manage that. And on the entrepreneurship side, knowing your numbers, you are your business, so you're gonna have to know what you need to make and what the business needs to make to run both you and the business.
Precious LaTonia Williams (19:16.262)
I'm just, you're making me, I was once a young attorney in New York State a long time ago. And you know, going through law school, becoming an attorney, all of that sounded great, but the true practice of it all, I realized when I walked through those hallways and just saw those offices of the partners. I did feel as a first generation, as a first generation in everything, that how dare, could I dare to dream that high? Because I felt so inadequate because I didn't come from that background.
I didn't have the self confidence. I knew I could slay in the courtroom, but I didn't know how to build up my own self confidence because there wasn't too many people around that looked like me. There was a gentleman, we'll call him an ally, but I call him like an angel. I was once in a, I was once in a, what do you call them, reviews? And I was basically told I was trash. Couldn't write, couldn't speak or anything.
I went back to my office and just kind of sat there dazed and confused. A gentleman came up to me, closed the door, asked me what happened. I told him, he said, what I need for you to do is I want you to go back in there and make another appointment. You know I ain't want to do that. And then he told me what to do in the next appointment when I met with them. And I had to challenge him on everything they said about me and they had no words.
Precious LaTonia Williams (20:55.702)
That man, that Jewish man became such an angel to me. There are savvy ladies who are listening right now who have been in a situation and didn't have an ally or a friend to help them. How do you, in your journey, how have you been able to inspire self-confidence and financial confidence in women who may find themselves in those positions? Who look like you and who don't?
Lazetta Braxton (21:25.579)
I'm so grateful that there are media like this in terms of podcasts and being able to listen because I'm a Gen Xer. There was not online resources, right? Feel the energy and to hear these words that you just shared.
Precious LaTonia Williams (21:41.626)
Mm-mm.
Lazetta Braxton (21:50.723)
And so many people want to downplay the podcast, the TikToks and the like, but if you select and choose and discern good energy, it's gonna come to you. The other aspect of this is, is to be open. Right, what I heard you say, you were crushed and this gentleman came to you and encouraged you and you listened and responded.
Sometimes people want to call us the angry black woman, right? And you can be because of the trauma in a fight mode, right? And not here when people are trying to encourage you because the hurt and the scars are so deep. So another part of this is just being open and hopeful.
that there are angels around who see you and hear you. And don't settle for anything less to say, there's no hope, because there is. Be open to it. And it could come from a podcast. It can be reinforced with a conversation. It could be somebody in the grocery store where you see oppression happening because somebody's skipping line. I mean, nastiness is everywhere.
And when your money is involved, it takes an livelihood. It takes it to another level. But the energy is still the same of people trying to oppress who you are. And so whatever inspiration you can get and wherever you can get it from, ball it up and keep pressing to say, I'm going to add more to my cup because I know it's out there. Even though I don't see it, I know it exists. And I'm going to be open to receive.
Lisa Zeiderman (23:43.212)
Lizetta, you are such an inspiration, and I know you're going to be an inspiration for our listeners. Can you tell us, I know you've given us bits and pieces, but can you tell us about your personal journey, what your secret sauce was as you were on this journey, so that women could actually start to think about shifting their own mindsets, and maybe hear what your journey was like, and how you got here.
Lazetta Braxton (24:12.759)
start by saying be nice to yourself and these are things that I realized because I wasn't. I was just a super overachiever who felt a lot of responsibility as the oldest child to take care of everybody. I did, you know, work two jobs in high school, two jobs in college. I got married at 23. My husband's in the, you know, ministry. Now, you know, seminary so I've dealt with churches, just lots of people coming from a small town and also having the responsibility to really learn quickly what the world is delivering to you and that's why for me I
Lazetta Braxton (24:58.375)
was true to myself about just pretty much being aggressive, assertive, because I had to, I'm on a mission. And we all are, we all are trying to live the life and legacy that we desire and we deserve. And so if someone wants to say, you're loud, you're bossy, say, mm-hmm, yes.
Yes, I am. Right. And then what you learn to do is navigate, right? But you don't minimize yourself. Those days are over. Because we know the scripts are still the same, and that's gaslighting. We can name it for what it is now. So you may not be mentally, emotionally.
Precious LaTonia Williams (25:24.278)
Thank you.
Lazetta Braxton (25:45.247)
financially where you want to be and that's your journey and you own your power to say this is where I am on a work in progress and don't let anybody take that away from you because everybody is a work in progress.
Precious LaTonia Williams (25:55.732)
all day.
Lazetta Braxton (25:56.959)
All day. And so that's why I knew by color, you know, black, but you couldn't tell me I was less than. You still can't tell me that. I know where I come from. I know who I belong to. And I'm saying the same for people who are listening is that elevate who you are, meet people where they are, and give them the opportunity to be their better selves.
And then when your numbers are right and you're confident there, then that confidence flows over in your conversations and you feel like you can take more risk. And the whole idea of making it up as you go along, that's just courage as you're getting wisdom and think about everything about as growth, not failure.
Precious LaTonia Williams (26:46.126)
Queen Lizetta, there's a question we ask all of our guests, but before I ask that question, this is a question that I've been wanting to ask you since you began.
Precious LaTonia Williams (27:03.434)
As a black woman who's a professional financial educator who's making sure that women and the other 99% are understanding the value of financial education, empowerment, all these things, do you often feel as if when people ask you questions, you have to ask for the whole black race or that you're only...
put in places to speak to a certain demographic? And if so, how do you break free to show others that you're professional grade, and you can speak to so many more than what people will box you into?
Lazetta Braxton (27:43.723)
To answer your question, and I've been clear about the community of Black, particularly CFPs, because that's kind of the narrow focus for me, because that's who I am. And I know there are other certifications that absolutely serve our population well. I have decided that I want people to see my Blackness, because I also know I'm a super expert. So for me, I navigate how I want to be treated and in what aspects.
Precious LaTonia Williams (27:55.075)
Bye bye.
Precious LaTonia Williams (28:13.23)
Yes.
Lazetta Braxton (28:13.639)
So I have to say one of my inspiring, I'm gonna say she's an ancestral natural blood related is Harriet Tuckman. That underground railroad for me is now above ground railroad to financial freedom. And so I want you to see my color because it's a social construct that still has negatives. So we need to unlearn.
Precious LaTonia Williams (28:23.684)
Oof.
Lazetta Braxton (28:41.251)
a lot of things and I want it to be seen in a positive light for my race as defined by this country until such things have changed and they have not. And I also know because I have, like I said with my parents, they were serious about their craft. I'm serious about my craft. So it's so fun to me when people want to pigeonhole me.
know how to change the conversation and be extremely versatile, right and pitched myself so that I can't be boxed in. Even if people want to say, Oh, you're not like the rest of them, or you just focus on the or you this well, no, I write, I'm on CNBC. I'm in the Wall Street Journal. Right. And so what you got?
with your tech list. Because I know that black women, we have to do, we have to get the extra degrees, we have to fight for the books. And then every time opportunity comes, I'm not trying to be a Martin Luther King, just the face. No, that's why in terms of the communities, being a part of sharing opportunities, we mainstream, baby.
Lisa Zeiderman (29:38.66)
Great.
Precious LaTonia Williams (29:40.002)
Thank you.
Precious LaTonia Williams (29:59.37)
I love that you said that. And again, shout out to my ally Angel from years ago. You are one of our Harriet Tubmans for financial empowerment and you're just leading the way. We have a question we ask all of our guests and I can't wait to hear your answer. Why is the power of the ask so important to women, especially financially? And why is it now so critical?
Lazetta Braxton(30:25.387)
Voice. Voice, you are your own advocate. Right, and so the power of ask, don't be worried about disappointment with a response. Once again, I'm saying, give people and institutions the opportunity to be their best self. And the way that you do that is value yourself as an asset, document what you've done.
Be proud of what you've done. Work on the areas you know you need to work on. All things that we do anyway. And when gaslighting comes, name it for what it is. Name it for what it is. Because part of oppression is making you feel less than. And if you have your tools, your craft, your confidence, then you, hey, as lawyers, make your case.
Precious LaTonia Williams (30:59.308)
right.
Lazetta Braxton(31:23.643)
and staying on your business.
And then when you get home, cry and do whatever you got to do. Cause that's a part of it. But save that for last. But if the tears come like they had for me before to speak your piece, let the tears go. It's still staying in your business. Do whatever it takes.
Do whatever it takes with integrity to be you and be that light, because you are. And we know that, and they see that too.
Lisa Zeiderman(31:57.)
Zetta, you are, as I said, an inspiration. I feel like I could do like a marathon, go to my office, work another day, do all of these things after listening to you. You really energize the room, the podcast, me certainly, I bet my co-host, Precious, you really, we are so fortunate to have had you here today as our guest and we really thank you for giving us your time.
Lazetta Braxton (32:04.359)
Hahahaha
Lisa Zeiderman(32:26.744)
and sharing your knowledge and your expertise and your story with us. So thank you again, Lizetta, for being our guest today.
Lazetta Braxton (32:34.795)
Thank you for having me. Hospitality means the world, and this is how you fill your cup with being aligned with people who really celebrate and honor one another. So thank you.
