The proud Berkeley native, Michele Faith Condon, CEO at Faithful Consulting Enterprises is on a mission! Retiring at age 35 from healthcare to go to Hollywood; Michele was ready to step out on Faith!
However, life threw her an immediate curveball. The detour from superstardom led her to the center stage in the world of finances, insurance, real estate, and entrepreneurship! Michele embraced it all and dived full force into her consulting business that she started in 2008.
Michele always understood the importance of multiple streams of income, protecting your income, and establishing a strong financial future, but she wanted to help others do the same. She decided to take it up a notch by partnering and joining forces with like-minded individuals to go out and empower, not only her community, but the entire Nation!
Michele loves sharing stories about her journey in life that led her to become a Wealth & Health Coach! Showing others how to create generational wealth while doing the same for her 1-year-old son is her #1 goal in life!
She loves cooking and catering fabulous meals for her love ones, as well as hosting empowerment events at her home. When she’s not in the kitchen she’s writing material for her next comedy performance or being a Supermom to her son!
She’s also the Host with the Most, so catch her at an event near you or book her for your next event to really bring the fun, excitement, and great energy! Michele’s big personality combined with her expertise and knowledge when it comes to financial consulting makes her a powerhouse!
Educating others and sharing her knowledge with the world through storytelling is one of her greatest abilities. She plans to share her gift with the world by reaching and helping as many families as possible!
What You’ll Learn In This Episode
- Financial literacy
- 3 Enemies to Your Money- Inflation, Taxes, Risk
- Living benefits
- “Why I do this- MY WHY!”
- Personal financial check-ups (PFC)
This transcript is machine transcribed by Sonix
Intro: [00:00:06] Broadcasting live from the Business RadioX Studios in the Bay Area. It’s time for Bay Area Business Radio. Now here’s your host
Lee Kantor: [00:00:17] Lee Kantor here, another episode of Bay Area Business Radio and this is going to be a good one today on the show we have Michele Faith Condon with Faithful Consulting Enterprises. Welcome, Michele.
Michele Faith Condon: [00:00:31] Thank you so much for having me today, Lee, I really appreciate the opportunity.
Lee Kantor: [00:00:36] Well, I’m excited to learn what you’re up to. Tell us about faithful consulting enterprises. How are you serving, folks?
Michele Faith Condon: [00:00:42] You know what? We are serving everyone, whoever we can reach any and everyone who we can reach with the mission of financial literacy. We’re all about educating people and helping people get their finances in order and really talking about anything that has to do with insurance, real estate and entrepreneurship as well, because those are the four pillars to really create wealth.
Lee Kantor: [00:01:06] Now, how did you get into this line of work? What’s your back story?
Michele Faith Condon: [00:01:09] Well, my back story is that I was in biotech since I was 16 years old. However, I always had this entrepreneurial spirit. So when I was 20, I actually went into real estate. So by the time that I got about twenty three, I decided to start my own consulting company, Saiful Consulting Enterprises, when I was predominantly just doing real real estate on the side. However, by the time I got 35, I decided, You know what? It’s time to step out on faith. I want to be a superstar and a stand up comedian, and I’m going to quit my job, retire early, leave corporate America and go to Hollywood. However, I wanted to make sure that the money that I had invested in my 401k that I did the right thing with it after spending six years in the biotech industry. So I wanted to make sure that I wrote it over into a platform because you know what? You can go to Hollywood and still end up broke. But in doing so, I realized, Oh my gosh, there’s so much I don’t know about retirement. The number one thing being that I cannot retire, I’m not in position, and it made me realize how many other people don’t know this financial information. So, you know, my life just took a whole 360 and I decided, You know what? It’s really time for me to dove headfirst into my financial services company and to really go out and educate the community and make it a mission to empower them on financial literacy and how to leverage insurance to create wealth.
Lee Kantor: [00:02:40] Now, are there some kind of, let’s say, maybe some enemies or villains in the story in terms of people in their money? Are there some things that are there that really could negatively impact people’s financial wealth if they don’t plan for it properly?
Michele Faith Condon: [00:02:58] Definitely. Definitely. Listen, the three main enemies to our money are inflation, taxes and risk. And right now we are in the midst of an inflation storm. You know, in August, inflation was like five point four percent. So the thing about it is is people don’t understand if your money is not in a pay in a place where it’s outpacing inflation. Typically, inflation is about three to four percent a year. So if you’re not going to raise on your job of three to four percent a year, if your money isn’t in the bank getting three to four percent a year, if your investments aren’t getting three to four percent a year, your money’s going to fall short at some point. And then also taxes, like so many people are saving for their financial future and retirement, you know, and they’re using 401ks in different vehicles. However, they don’t know the tax obligation. When you go to withdraw this money, you know, and when it comes to taxes, when you when you purchase things, you pay sales tax, you know what I’m saying? You know anything you do. It doesn’t matter when you die, you pay their taxes. You know, there’s always taxes associated to every aspect of our lives. So if you don’t know the different types and different categories of taxes and how they work, you won’t be able to set yourself up for a financial future where you don’t have to pay as much taxes without this education.
Michele Faith Condon: [00:04:18] And then last but not least risk, you know, we saw in 2020. In March, we saw the stock market drop 30 percent over like twenty two days, right? So a lot of people who had these different accounts, especially 401Ks, they took a big hit. And for me personally, you know, it really resonates with my family and my story because I moved my dad’s 401k. I moved it in in December of 2019, right before the market crash in March. You know, and he did not lose a dime. And then my father ended up dying in August and it became my inheritance. The one thing I know was that he felt really good knowing that we did not have that big loss that so many people in the world, in America, everywhere had when the market crashed because of the COVID 19 pandemic. So, you know, you have to have a solid financial future. Everything can’t be risky. You know, a lot of people like the reward, but that risk can really just take you out of the game. And so that’s what we really educate people on their options to grow their money safely without the risk.
Lee Kantor: [00:05:25] So now we are having this conversation with folks, are they typically at the beginning of their kind of financial journey or are they already have accumulated some wealth?
Michele Faith Condon: [00:05:36] The thing about it is, is we work with a wide range of people. You know, it doesn’t matter your age, the earlier you receive this information, the better. But whatever stage in life you’re at, because it’s a lot of people who get this information and they’re thinking they’re about to retire. However, they realize, Oh my gosh, I’m not in position. I didn’t know that I still have to pay taxes on this money before I withdraw it. Oh, I had no idea that my money was at risk. So the thing about it is is we want to work with people wherever they are in their journey because this information will help any and everybody. If you plan to retire at some point in your life, you need to hear this information.
Lee Kantor: [00:06:19] So now, if you’re if you’re a young person and you’re at the accumulation stage of your journey, it’s a different strategy than if you’re, you know, 65 and you’re looking to get out of the working. How do you kind of help each of those people kind of manage that unique situation that they’re dealing with themselves?
Michele Faith Condon: [00:06:42] Well, FFO consultant enterprises, we work with over 40 different financial institutions, so the thing about it is, is we’re we’re not just we don’t have one option for people. We work with a lot of different companies to make sure that our different clients and their different individual needs can be met. One company might have a plan that’s perfect for the 22 year old. However, another company might have a plan that’s perfect for the sixty five year old. So that’s why we want to make sure that we work with a multitude of companies so we can have multiple options to be able to serve everyone.
Lee Kantor: [00:07:17] So that way, the more resources you have at your disposal, the better you’re able to serve your clients.
Michele Faith Condon: [00:07:23] Yes. Yes, yes. Yes. And then we also have additional resources. You know, sometimes you can go into your budget, go into your finances, and there’s just not enough money there. And a lot of people have dreams and goals that are a lot bigger than the current salary that they have. So we also help people find additional streams of income and really tap into their entrepreneurial spirit. So that’s a big part of what we do because we all know in this day and age we’re living in, we need multiple streams of income and we definitely help people connect the dots there.
Lee Kantor: [00:07:55] And that’s an important consideration. A lot of folks don’t realize that they think that that just having a job is enough, but most people that have accumulated some wealth have multiple revenue streams.
Michele Faith Condon: [00:08:07] Definitely. And that’s exactly what we try to educate because a lot of times people are like, Oh my gosh, I feel like I’m just walking in circles and working in circles, and it’s like, I want to buy this house, you know, I want to send my kids to college. I want to retire early. But the thing is, you have to have a financial plan in place because if you don’t know, you can say you’re going to do these things all day. But if you don’t have a plan with specific steps that you need to take and a and specific amounts that you need to save and and generate over a course of time, you’re not going to be able to accomplish accomplish those goals. So that’s what we want to do. We want to help you connect and align your dreams and your finances.
Lee Kantor: [00:08:53] So now when you’re working with somebody, they’re coming to you initially because they have some anxiety may be about their financial situation and then you help them through that and then it expands to these other areas.
Michele Faith Condon: [00:09:08] The thing about it is you can think you know everything about finances, but think about it. We’re never taught about finances in school, even if you go to school to begin to become an accountant. The different financial principles that we teach a lot are they’re very basic, but they’re powerful. So, you know, some people think they know it all and then they hear this information, they’re like, Oh my gosh, well, I didn’t know that or I didn’t think about it. And even a lot of times with financial advisers, they advise you what to do with your money now and how to save you on taxes now. But we take a deep look into the future and think, what can we do to save you and help you in the future? And that’s the difference in a lot of the different platforms that people use to teach financial literacy. Ours is about helping people now, so they don’t have to struggle later in how to build the wealth, how to create generational wealth and to have a financial future that consists of a little bit of freedom.
Lee Kantor: [00:10:07] Now, in order to really create this kind of holistic plan for somebody, you have to really help them get clear on what is there, why like, what is the big things they want to accomplish, right? And have a long term view of all this.
Michele Faith Condon: [00:10:21] Definitely, see, the thing is, is this you have to have a strong why in life, no matter what you do, you have to have fuel behind you, financial goals, especially purchasing your first home, you know, becoming a real estate investor, becoming an entrepreneur, creating a business that’s going to generate income. And we’re all about helping people create business to generate passive income. You have to have a strong reason why to keep going. And for me, you know, my my reason is I really I have a one year old son and I want him to be able to have a strong financial future. I want to be the bank for him. Mommy is going to be the bank, and that’s what fuels me. Just knowing that the steps that I take now can really change the dynamics of his life and my grandkids life. You know, generational wealth is within our reach. You just have to know what steps to take and when people really find out like, Oh my gosh, if I just sacrificed this amount for this certain amount of time, I can change the generations to come. They’re like, they’re all in there ready for it. You know, everybody needs, you know, everybody’s not born with that silver spoon in their mouth. But there’s a lot of things that we can do to give the next generation an advantage. And that’s exactly what we want to do here at faithful consultants.
Lee Kantor: [00:11:38] So now what are some kind of baby steps or some easy things that anybody could do right now if you were to tell them to do do one or two things right this minute? There are things that they could do right this second to help them.
Michele Faith Condon: [00:11:52] Dove into your finances and take a look. Write down all of your expenses, see what it is going out every month and see what it is that is going in every month, you know, down to that $10 subscription you have for a cosmetic box, your Netflix, I mean, down to the nitty gritty, how much are you paying for your son to go to soccer every month, right? Like, look into it. How much are you spending at McDonald’s and really see where the bulk of your finances is going and where there’s room for improvement? Where are some things that you cannot offer that list and sacrifice and make adjustments so you can reach your financial goals? And so what you could do right now is to contact me. And what we like to do is personal finance checkups. So pretty much we like to start with the education piece because when people are educated, they want more for their life. We’re not about sales. We empower people. And when you’re empowered, you know more and you want more. And then we go and connect the dots to this financial information. We connect it with your dreams and your life and your finances through a personal finance checkup. And we start. What are your dreams and goals in life? Because a lot of times they’re their goals are not in alignment with their finances. And that’s one of the biggest mistakes we make is that we don’t get our finances and our goals in alignment. So we’re dreaming for all of our lives, but we really have to have things in place because we see what’s going on in the economy. You know, the economy is just all over the place. You don’t want your finances to be all over the place.
Lee Kantor: [00:13:30] So now when you’re working with people, it doesn’t matter where they’re at, right? Like even if they’re in debt, even if it seems hopeless, even if they’re super wealthy, it’s worth having a conversation with you or somebody on the team because everybody’s situation you, you probably can help them in some way or another.
Michele Faith Condon: [00:13:48] Listen, you said it best. Everyone can receive this information and get a nugget or a jewel from this information. The thing about it is is, like I said, I retired at thirty five and had no idea of the taxes I would be paying. And it’s like, we don’t know, you know, I got another 30 years before I could really retire, right? So it’s like, we don’t know how much the taxes are going to be in the future. So the thing is is we help you just really understand that there are some different ways and platforms to secure a financial future with a tax advantage as well as without the risk. And that’s just really the game changer that can really set anyone at any stage in their financial journey ahead.
Lee Kantor: [00:14:37] So if somebody wanted to learn more about what you got going on, is there a website?
Michele Faith Condon: [00:14:42] Yes, yes, yes, you can go to for consulting enterprises. You can set an appointment and you can. We can talk about what it is that you desire to achieve in life. And I will help you get your finances in alignment with that dream. And I’m available to help everyone. This is what I do full time. Twenty four, seven, you know, I’m a stay at home mommy and I operate my business and I’m a hundred percent thousand percent dedicated to this cause.
Lee Kantor: [00:15:12] Well, Michelle, thank you so much for sharing your story today. You’re doing important work and we appreciate you.
Michele Faith Condon: [00:15:17] Thank you so much for having me. I truly appreciate it.
Lee Kantor: [00:15:21] All right, this is Lee Kantor. This episode of Bay Area Business Radio is brought to you by Leah Davis coaching inspiring women of color to claim their wealth legacy. We’ll see you all next time.