Melanie Johnson and Jenn Foster talk with Loral Langemeier on Elite Expert Insider Podcast.
Loral Langemeier is the owner of Live Out Loud Corporation. Loral grew Live Out Loud into a multi-million company in only five years. A highly sought-after money management expert, she has appeared in USA Today, The Wall Street Journal and The New York Times, on television at CNN, CNBC and Fox News Channel, and on the web at ABCNews.com, Forbes.com, and BusinessWeek.com. She has appeared as a money expert on The View helping teens grow their fledgling businesses and Dr. Phil, advising families in financial crisis about making more money. Her popular website, www.liveoutloud.com, receives nearly 8,000 hits a day.
Her company, Live Out Loud, was named as one of the 15th Fastest Growing Women-Owned Businesses in 2007 in the San Francisco Bay Area by the San Francisco Business Times and has since ranked every year.
Her stage appearances continue to broaden to encompass international stages, including Tony Robbins Wealth Mastery Stage, Chris Howard Stages in the United States, Australia and England; appearances on stages with Mark Victor Hansen, Harv Eker, Todd Dotson, John Rutledge, Brian Tracy and many other notable speakers; a National Keynote on eWomen Network’s stage; Tupperware’s Leadership Convention keynote speaker; Speaker at Sisel International Conventions all in addition to her Live Out Loud events, including Cash Machine Workshops.
Her fifth book, “Yes! Energy: The Equation To Do Less Make More“, skyrocketed to number one on Barnes and Noble and Amazon bestseller lists and debuted at number four on the New York Times and number nine on the Wall Street Journal bestseller lists. Yes! Energy was number 51 on USA Today’s list of the bestselling books in the country the same week it was released. However, the book is just the beginning of something much greater – a new movement, the Yes! Energy Movement, in which we can now become fully engaged in a new conversation. A conversation in which “Yes!” is the only answer required for success. In the words of Langemeier herself, “Say yes and then figure out how.”
Learn more about Loral Langemeier at JustMetLoral.com
Subscribe to the PODCAST NOW on Apple Podcast
Listen Below or Watch the YouTube Video.
For access to all of Elite Expert Insider podcasts visit:
Welcome to elite expert insider podcast where we will inspire, motivate, and educate entrepreneurs, innovators, and grow seekers. Brought to you by Elite Online Publishing, making the best and brightest in the industry number one bestselling authors. 80% of people say they want to write a book, we are assuming you are one of those people. If so, contact us at www.EliteOnlinePublishing.com and make your book a reality!
Melanie: Melanie Johnson here along with Jenn Foster. How are you doing, Jenn?
Jenn: Hey guys, how’s it going?
Melanie: Well, listen, we want to remind you to subscribe to our podcast.Then you are going to hear about the latest and greatest interviews and what you’re going to learn ahead of time so that you don’t miss all the fabulous information. So make sure you subscribe, make sure you share the podcast. I don’t want you to keep all this great information to yourself. You have to share so share it with other people, let them know what you learned and how fabulous the podcast is.
Today, you’re going to learn how to make some money. Everybody wants to learn how to make money how to be smarter and have better strategies, we have a woman with us today that we’ve followed and have been through her programs, Laura Lang Meyer.
But before we get to her, I want to remind you that we are Elite Online Publishing and if you are looking to publish a book and become a number one bestseller seller, you need to come and talk to us. We have made over 50 people #1 bestselling authors and we have over 1500 products on Amazon that we have launched. We just did an Amazon giveaway this week, and it was for the Success Planner: Design your Goals and Dreams and Achieve Success Daily Planner. So you’re not gonna believe this but I put this on an Amazon giveaway and within less than 24 hours 1800 people opted in to get my book. We had a winner and I’ve never had anything goes so fast ever, so I think this is a great one. This planner is great for Mother’s Day, for girls, and teenagers. The design is white, pink, and Aqua and it is by Elite Online Publishing.
Now we’re going to talk about making money. So Loral Langemeier, she is the author of The Millionaire Maker along with many more other books, products, and games. You may think that you want to make money with stocks and bonds but let me tell you there’s no world out there, just don’t go that way. Loral we are so happy and excited to finally get you here. So welcome, thanks for coming.
Loral: Thank you. Thanks for having me. I have to just make a response that if you want to lose money and totally risked everything, then put your money in the stock market. Good luck. I call it park your money and pray to God helps you. That is the worst way to do it, we’ll talk about the best way to do it.
Jenn: Exactly! Again, thank you for being here Loral. Tells us a little bit about your background, where you came from, and how you have all these books today.
Loral: Yeah, so I’ve gotta do little Trump thing here (not like I’m not Trump, Donald Trump, but like Trump the bestseller thing) because I have five New York Times bestsellers as well as some publisher weekly, the Wall Street Journal, and USA Today. So when I went for it I hit every 11 categories with five books and I have around 40 books that I co-authored and written. So definitely get with these guys (Elite Online Publishing) and write a book! I always say that your book is your brains on paper. You all have one, so just get it out of your brain and on to paper and created an expert status for yourself. The only reason that I would say I choose New York Times over Amazon —well back in the day because I’m a little older than you, I published from 2006 to 2012— So those are my five new york times and it mattered then, it was was a status thing. Only around 300,000 people had the New York Times bestseller tag and now there are like 3 million people. So if you can hit any bestseller, Amazon included, just go for it because it’s a crowded space so just get your book and then use your own marketing effort.
Why did I do them? I wanted to I think my conversation with money —which isn’t mine is the conversation of the wealthy— needs to be in the homes. Not Suze Orman or Dave Ramsey’s conversation about saying broke that’s in the homes of America and unfortunately, they didn’t know better. But they made that choice and they bought that stuff and their conversation is get a job maximize your 401K, park your money in the stock market and pray that it all works out and it doesn’t, it never works out. That’s why the rich get richer the poor get poorer. So if you want to get rich, then we’re in right conversation.
Melanie: So tell us how you got started with the whole money thing. Tell us a little background of your story how you started with one career and then how you switched over into really learning how to make money with your money.
Loral: Yeah, so I actually at age 17 I kind of decided I wanted to be a lawyer. You know me I love to talk and I love to debate. Then I got the book Think and Grow Rich at 17 and thought, I gotta study why so few people become millionaires like why is this such a formula that can’t be cracked. That kind of wasn’t a direct trajectory. I dumped law school and I went to got a finance degree and then went and really studied the traditional banking I was taught in school. That’s a whole joke that actually supports all of that financial system—conversation’s like what Suze and Ramsey say about get a job and maximizing your 401K— no one teaches you to be an entrepreneur. That is where the gold is! If you want to be really rich, you’ve got to be an entrepreneur. You’ll have companies, make money and individuals get taxed.
So I studied that and then got really disappointed that I still didn’t know how to be an entrepreneur. So then I thought, well, I’m going to go start a business in what I love, which is fitness. So I got a master’s degree in exercise physiology, designed 272 fitness centers on oil rigs, and designed corporate wellness centers all across the Midwest. That was my big break when Chevron hired me to design fitness centers that took me all over the world. By age 24 I was making hundreds and hundreds of thousands of dollars not spending it right. Again, I was under a contract but still didn’t know what to do. So that’s when I went out found money mentors, entrepreneurs, that would teach me how to be a proper entrepreneur. Only a few years after that became a real estate millionaire and I worked with the Rich Dad Poor Dad organization for a long time to learn educational aspects and why a book is so critical in your world. I really didn’t want to write the book, I wanted investors. I use the book to get investors. That’s how I became a millionaire because a lot of investors were attracted to my millionaire maker and we bought gas and oil we went and bought real estate together.
Fast forward, I teach off Wall Street assets we have franchises and I recycle glass companies. We’re going to go solar and currently, I’m in the two best asset classes in the world, which is cryptocurrency and cannabis. In fact slightly more in cannabis, next Monday I leave for Canada to go raise $75 million to buy us revenue producing assets in cannabis. Mostly real estate, I’m on the real estate side I’m out on the product side I just know how to do the business money. So I think for me, I stay current, I’m right with it, I love teaching, I love getting you guys off the couch, I was in The Secret. That’s the stuff being a New York Times bestseller get you— a big high profile.
Jenn: So I really love what you said your book. You said that you used your book to get investors. A lot of times people think, Oh, I want to write this book and I’m gonna sell all these books. What they don’t understand is that the power of the book is to leverage it. To use it for another purpose like getting investors, raising capital, or all these different ways you can use a book.
Loral: Yeah, you guys know that I have what’s called the big table. Which is a mentoring program, but we are kind of transitioning it to where it’s like an elite mastermind. We’re attracting more and more millionaires to that group of people and it’s the place where millionaires that want to understand money get to hang out. For an example; the new solar group, there’s a guy that just sold his restaurant for 2.6 million, McDonald’s for 3.9 million, it is those kinds of people need to have a conversation with other rich people. So we have that advanced community where people get to talk about money, business development, and tax strategies. We have clients all over the world, so we knew how to do international strategies.
Once you get the book— remember the book is just like a new brochure, It’s not going to make a lot of money. I got five publishers and every one of them owns all my rights and now that I’ve been so successful, I’m using the books that I buy at my author price and I use them through my radio ads and my infomercials for a free book. So that doesn’t make your statistics look like you’re a big bestseller, even though I have millions of books on the planet. So there’s this whole algorithm that’s kind of nonsense and the problem is it’s very few people— now I don’t know how you guys feel about bookstores closing it’s gonna break my heart because I love bookstores but they are going to close. Just like retail is going to close, Amazon prime has taken the world by storm and everybody is shopping online. So if you think you’re going to get your book in a bookstore, remember that you have to pay for it. That’s the new rule, I called to get my millionaire maker printed again and they wanted to charge me $9 for my new author price because it costs so much to get them into bookstores, because no one’s in bookstores. So there’s a lot of messages in that but just get published get it online. If you need to get it printed go to adjust in time print place. Don’t worry about the rest of it. I know I wasn’t here just to talk about books, but I know a hell of a lot about books and I just had two of my clients that said I want to be in New York Times, and I’m like why? It’s going to cost you $300,000 just to start the game and then what do you want from it? Just a status, do you want a TV show? You want to be very careful about those because I think a lot of people spend a lot of money thinking it’s easy and it’s hard. It’s like another business getting to become a bestseller, especially a New York Times bestseller.
Melanie: love all this book talk. I really do, because that’s our business. But I know we have our money talk with you, so I want to get to that. Let’s break it down for the everyday entrepreneur starting a business. What do I do? Even maybe the second tier of that would be, I’m at home and I’m a homemaker and I have some money. What do I do with my cash. How do I run my family as a business as well?
Loral: Well and you know that I’m a huge family fan, I think your whole family might need to be involved. So let’s go two ways. One, you want to start a business, you have a job and you want to start a business just for additional revenue. First of all, get incorporated. I don’t care what state you’re in. I don’t care what your accountant says, companies make money and individuals will get taxed. The new tax reform is going to support those of you that are incorporated, if you stay a sole proprietor or sole trader you’re the number one hit for an audit and you don’t have the right for all the deductions. If you stay in an individual you have no deduction legality, so start the company, an LLC, a limited partnership. There will be a link at the end call JustMetLaura and if you want an appointment you can click the appointment tab and click on my team then we will give you a free appointment, just to see what kind of company you have. Another thing as well is that a lot of people have a company and they don’t know how to use it. So even if you have one make sure that you’re using it to its fullest advantage.
I always say do the easy thing first. Whatever is easy for you do that first, you’re just learning to be an entrepreneur and the last thing you need is some invention or some big thing that you’re going to go patent. Do you know much money that takes? Remember you have no brand status. In fact, the fax machine took 14 years and the cell phone took 18 years. If you are trying to do something totally new to the market, unless you have one hell of a bank account, it is not the way to start. Just do something easy. If you’re a teacher, be a tutor. If you’re a chiropractor, add extra products. I mean, there’s plenty of ways to add products and services to just sell something. If you literally don’t have anything to sell, come sell my stuff to be an affiliate of ours and sell our stuff. Really, that’s what I did with Kiyosaki. I sold somebody else’s stuff until I knew how to sell stuff. So sell the easy stuff, make it an easy business because you have to learn marketing. You have to learn sales and you have to learn cash flow. You have a lot to learn when you first start. I know how to teach you. You guys have been to my three-day workshop where you’re guaranteed to learn all this and make money in three days.
So once you make money in the company, then you need to invest it. We have different vehicles, we have a robotic trader that we trade with so that’s the only way we played in the market. On average, our clients make 39% and it only takes $10,000 starts. So if you’re somebody who’s home and have a little bit of money. I have some real estate partners across the country. I just did another deal with a guy, he couldn’t close for a lot of reasons. He doesn’t have good credit but he wanted to buy a $35,000 Six Plex. So I closed and I’m his bank but he’s gonna pay me 10% because I actually own the building and if he stops pay me I get Six Plex and I’ll just go flip it and sell it.
We’ll show you ways that with small amounts of dollars you actually can get a good start. The worst case is to do nothing and that is what I’ve seen over and over and over. If you really want to stay to make money or money for your kids, you need to make it and invest it, make it invested. Not make it and then spend it. You make it and invest it. You need to get our conversation in your pipeline and really understand how do you make money and how you get it invested even at small little amounts. For example, my kids will have Roth IRAs and they own LLC that own that robotic trader. so like Logan trading is probably over $100,000 and making 39% and that’s a pretty good return for an 18-year-old.That’s just going to accumulate and if he goes off to college we will extract some of the cash flow to pay for whatever didn’t get coverage by a scholarship so you can get your kids to college tax-free. I love that. I love that.
Melanie: Tell us more about that! There are a lot of moms whose kids are going to be going to college that watch here. So tell us the tax free strategy for college.
Loral: Well, when your kid turns 18 so mine did last September, they get an update, their legal adult so they get an LLC and I’ve had one since he was born. So he’s acquiring an 18-year-old one. Now that’s a huge advantage by the way from corporate credit and getting credit cards and he’s got huge corporate status. So just real estate and national inside that regardless of the brand new one. What could they do to make money? Logan does math tutoring, not a lot anymore, but he does and that money goes in LLC this year he actually had you’re instructing and there’s a C code. So all that money went to go get easy stuff that he just knows how to do is going to naturally do he’s going to get paid for it not do it for free. So then the company he has off to call it has any wants a business degree, but it’s going to require him to go get a degree. So there’s a lot of companies and here’s what the big people like I say this way the little people don’t think they have a people strategies and the truth is you have strategies like the chevron they sent me through courses after course after course after course it was 100% deductible to trip around it was 100% reimbursement. So we set up that same thing Logan’s required to go to college, get a business finance degree and as long as he does his degree and he requires a certain GPA, then he can submit all of those expenses back to the company tax so that it’s it’s a pre-tax expense. Yes, it’s an expense for its pre-tax. It’s an expense to the company. So the companies require him to go to school and by the way to companies want to be a global company by this insurance vehicle like all of he operates as a corporate unit and I’m teaching this and you still home. I mean, graduates in June and then he has after college. In September, but by time he’s gone. You want to run it will have corporate credit he will know how to run come to be his own course and not fund his Roth IRA, he’ll have his robotic traders and by the way, the robotic trader that we have also, it didn’t come producer. So if you really love it. Like he loves it and he can sell it to another college friends. It makes $600 per unit. The software cost you thousands of a deal and then he’ll make the quarterbacks and not to go into his company because those are parts what he offers in his company. So it’s teaching your kids to think like a business owner right when they’re at and get them set up properly through his LLC.
By the way, I have tons of information on it’s called just met Loral. I have a lot of my kid’s programs. I have a video where I taught UCLA kids this exact strategy, there’s a video that never pays or kids in allowance. There’s how to put more cash in your pocket eight hours of me reading a book to you there are all these goodies and then you click if you want a one on one appointment about whatever you want to talk about.
Jenn: Cool. I’ll put that link for those watching the video so they can see how to see that but that’s awesome all that great content.
Loral: Now kids stuff is critical because no one teaches the kids stuff properly.
Melanie: You talked about a Roth, do you believe in a self-directed Roth, or just a regular Roth?
Loral: Self-directed. So when you go to a typical financial house, they’re going to set you up, however, they want to set you up and they’re going to say it’s self-directed and it is self-directed but only to their products you go to fidelity and then you come back fidelity bonds and mutual funds infidelity support it stops where they make a fortune on your purchase self-directed means you self-directed which means you have to get educated, I would say of the lean and learn as usual and you do with it. I know that’s why I’m your new best friend. I’m gonna show you what to do with it, you can do a robotic trader. I just signed up to do a note with women out of Texas, or we’re going to buy a performing note which is basically where the bank and for 10 years. She is the cash flow for 10 years I get the cash flow. So we’re talking nice cashflow, we’re talking 30%. So there are lots of ways where you and all that money comes back into a Roth factory tax-deferred. So using a Roth allows you like all this. To be honest, I put my cannabis apart the part that I own in the cannabis business because I am on the life inside I’m not just unrelated on both sides. I’m acquiring licenses. I’m putting my license side with my LLC. So all that I make on my the cannabis part of the business will all go into my Roth factory tax-deferred so I expect to make millions and millions into my route. There’s a legal way to do it. So self-directing is very different outside of financial Institute’s there’s only about maybe 8-10 companies in the country that allow you to do it the way we’re talking about which is alternative you know my new way. I’m talking about what we’re doing because I think some people listen to and go. It’s not risky like the traditional medical institutes right if you don’t want like the traditional medicine which most of you shouldn’t say you have cancer or some severe which is also I like medicinal marijuana like we have a kid in 94 seizures a day he took one of our products and has no seizures. So there is a medical medicinal like facts that that’s just crushing it so if you had something when you can go find an alternative if it wasn’t working. So think about the same way you can go to the traditional bank finance a traditional finance. And by the way, traditional medicine wants you to stay broken or you go find us. We’re alternative financial people that’s what you last were. You asked for alternative financial people were doing things differently than the norm, which is why only 10% make it because we don’t. We’re not made me think about just the media. I mean, you’ve got you got Fortune Magazine, you’ve got all the magazine supported by the traditional financial Institute. They don’t want to hear from me like I was actually a couple years ago I was actually the top 25 fortune women of the year. And did I get published? I got one little section because they hated to have to publish but I do I because on the next page there’s you know Fidelity. So become smart consumers about what you’re buying me. You might think, how come she’s not out world where she shouldn’t be well because I’m in an alternative space me talk about like acupuncture that’s like going up what against farmers like it doesn’t work the financials don’t work so thank God become a smarter consumer and get more alternative and your life will get better at every case health and well Yes.
Jenn: I just love that you’re talking about money making money because a lot of times people say save your money or spend, we just spend our money and you’re talking about everything you’re doing is money making money so you’re taking the money you earn and you’re making more money with it. And I think that’s the key right there as being a millionaire is really just make using your money to make money instead of doing what they want you to do, which is spend it on everything. Right?
Loral: Exactly, Exactly.
Melanie: So we have them, make sure you have an LLC for you and your kids. Once they turn 18 or even before 18 and then you turn it over to them. You have created a Roth IRA for yourself. So if they don’t go to fidelity or somewhere to make an IRA, who is it that we go to?
Loral: If you want to JustMetLoral.com and put in an opt-in. We’ll make a request box where you can request what you want because there are three different companies we use it. It depends on your age, how much you have and which one you go to so we’ll help you screen it. We will do that as a free service just put in your name for your opt-ins, your phone number, email, and then they’ll be every request line and say I want to learn which Roth and then one of our team members will give you a call to a quick assessment. There’s kind of three different places we send you depending on what you did yourself or what you want.
Melanie: That’s perfect. That’s perfect. So, and then some people may say, Well, you know, I don’t have any money to start I’m living paycheck to paycheck. But I think one of the strategy you gave if you start to implement some of this if you create the LLC’s is you’re going to have taxes savings right away instead of taking that money and throwing it away or spending it on a new jacket or a trip or whatever to start to invest it so if you’re saying you don’t have money Laurel just created a new cash flow stream for you with saving money in taxes that you can use to start to invest in things. But I know you’ve talked about as well that even if you don’t have money there are ways to still make a deal happen a real estate deal or something, you kind of touched on like pull groups together, but people who have any money. I’m not gonna wait, I’m not going to get that much from my tax savings. How do I get started with no money?
Loral: Partner with somebody who knows, that’s what I did. I mean, I became a millionaire six months partnering with people who know what they’re doing. This is part of our community and you know they can also come to a three day workshop, they’re guaranteed to make money forced them into that funnel. The bottom line, you say, I don’t have any money. You got to sell somebody something a product or service that’s going to change their lives and you guys asked for money, so you can’t avoid the process. So if someone already has a system that selling stuff, like we have a lot of kids as you know I mean your kids rocked our workshop that weekend.
Melanie: Yeah, we made $3,000 selling stuff with Instagram.
Loral: Right. Yeah. So there are all sorts of ways to do it. A lot of you have something you’re just not set up in a business or structure ready to make money and you don’t have a price. You got to price yet order forms and we have a lot of people who sell our games as a way to get started because into close to the organization. They’re close to me and how I teach me how to make money, you could get a little army selling you know your books for you to sell someone else’s stuff we tell someone else’s Julia friend does jewelry of somebody else down the street who work for somebody as a contractor, but not an employee as a different way to get started as another strategy.
Melanie: So, we can find another revenue stream find something that either yours. You’d be surprised. Like when you go through laurels workshop, you have to take this inventory of what I know what are my assets. What could I do and it makes you think outside the box and thinking a different way. You think, what can I do, what do I have so you start taking inventory of your skills and you go, somebody would want that? And then the other big aha, I think for the kids and people in the room and even for us as business people, there are so many different sales things on how to sell how to close and I love one day. The first time we met, you’re like, just go ask him for the sale so we had, but we haven’t closed anybody at. What are you saying, Go tell them, give me your credit card and sign up right here and I want people in all five of them were like, oh, okay, here’s my credit card. You think it’s like this brilliant thing. And she’s like, no, you just ask for the credit card. Yeah, she’s right, you’re trying to make this big difficult thing about it. So keep it simple and she just puts it right in your face that makes it easy.
Loral: Absolutely. So I’m gonna run I’ve I do a facebook live every Tuesday I do a little lunch with Loral. Do you have a last question?
Melanie: We just want to let you know. Tell us where they can meet you, find you online, which you did that a little bit. Let’s reiterate that and some of the joint for you.
Loral: So JustMetLoral.com will give you a whole bunch of free stuff and you’ll be able to opt-in and give me requests. If you want to say I want to know how to get an LLC. I want to know how to get an IRA any those reflections make a request and my team follow up with you and make sure you’re taking care of and then we do really two or three things we do a 3 day workshop every month so like this week we’re in Costa Mesa, you’re guaranteed to make money we design a portfolio. We talked about taxes. It’s a very different workshop actually since the one you guys give it meant to me I bring out cross-border accounts I bring out like four or five wealth team members. So it’s really taught by wealth team, but I am out there. Then in May. We’re going to come to Phoenix. In June, we’re actually coming home to Reno all this back in LA and then we’re going to Salt Lake kind of our series. We’ve also been adding some tours. A lot of people want to see our cannabis rose in our cultivations so we’re doing in cannabis tour we bought them an arena. We’re fixing up we’re going to see that we’re doing a lot more tours, where we take you to the street to show your assets because these assets are also in your neighborhood and you don’t know how to find them. So, by taking you to show you what we do and how we find him that you can go home to your world and you can figure out how you could find. So we’re doing to those cool things. And then, of course, we have my big table mastermind where it’s a one time fee and your whole family gets to go we change the ladies really we should revisit it cuz I’ve really changed. It’s just you and your family one-time fee and comes learn about money and bring those kids along with our charity, they get to come for free because these kids need to learn to make it because they’re our next generation praying to God.
Melanie: Awesome. Thank you, a pleasure having you here. So make sure you subscribe to this podcast because we have outstanding people like Loral Langemeier here that are giving you all kinds of great content that motivate, inspire, and educate you and make you wealthier.
We’ve got the book, Seven Costly Mistakes when you’re publishing a book. It’s our brand new book that we have out there. We just launched it reach number one, so get that book. And if you want to publish a book and be a number one bestselling author come to EliteOnlinePublishing.com and we will see you next time right here.
If you’d like to create the most powerful advertising tool for your business, contact us at www.EliteOnlinePublishing.com where we will help you create, publish, and make your book a number one bestseller. Show you how to get new leads and more revenue for your business. If you’d like to check us out on our Facebook page, we have a free book for you as our gift. Just go and click free book. Remember to subscribe and leave a comment for our podcast. We would love to hear from you.