Listen and Subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, or wherever you listen to podcasts. New Money Making Conversations episodes drop daily.  I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur.  Keep winning!

Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Lisa Mulrain.

CEO of Legacy Building LLC and founder of Mulrain Law, in a wide‑ranging conversation about financial literacy, credit repair, estate planning, community impact, and the mindset shifts required for long-term financial success. The discussion highlights her personal journey, her transition from federal service to entrepreneurship, and her mission to educate and empower individuals—especially in minority communities—to build and protect wealth.

🎯 Purpose of the Interview

The purpose of Lisa’s appearance on Money Making Conversations Masterclass was to:

1. Educate listeners on financial literacy

She breaks down credit repair, debt management, estate planning, and smart investing in simple, actionable terms.

2. Promote her services

Lisa shares how Legacy Building LLC helps clients strengthen their financial footing and how Moraine Law protects the assets they build.

3. Inspire financial empowerment

Lisa’s personal story—from growing up in a financially challenged environment to becoming a securities attorney and entrepreneur—reinforces the idea that financial transformation is possible for anyone.

4. Encourage mindset change

She stresses that financial improvement begins with understanding one’s money mindset, especially for people raised in environments of scarcity.

💡 Key Takeaways

Below are the major themes and lessons Lisa shares throughout the discussion.

1. Your Money Mindset Shapes Your Financial Life

Lisa emphasizes that many financial problems stem from long‑standing beliefs formed during childhood—especially in communities where money was scarce. People often develop a “lack mentality”, influencing decisions like using credit irresponsibly or putting bills in a child’s name. 

She teaches clients to first understand why they ended up in financial trouble before addressing how to fix it.

2. Credit Repair Requires Understanding the Root Cause

Lisa rejects quick‑fix credit repair approaches. Instead, she helps clients: 
Assess what led to their financial hardship
Identify self-inflicted issues (overspending, poor planning)
Contact creditors directly
Negotiate payoffs or settlements
Avoid repeating the same mistakes

She notes that high‑interest credit cards (often 20%+) make it nearly impossible to pay off debt without a consolidation strategy.

3. Estate Planning Is Essential—Not Optional

Lisa stresses that everyone, not just wealthy people or seniors, needs an estate plan. 

Key points:
A will and trust prevent the state from deciding what happens to your assets.
Even celebrities like Prince and Aretha Franklin suffered consequences of no estate plan, leading to long probate battles.
Trusts allow individuals to manage their own assets during life and ensure smooth transfer after death.
Estate planning protects homes, bank accounts, cars, jewelry, and other valuables.

She also explains that a trust must be funded and a will acts as a secondary backup.

4. Smart Investing Starts Early and Happens Consistently

Lisa outlines a clear investing roadmap:

✔ Use employer 401(k) match

Not contributing at least, the match percentage (e.g., 4% in federal roles) means leaving free money on the table.

✔ Open and fund a Roth IRA
After‑tax money → tax‑free growth
Contributions can be withdrawn without penalty before age 59½ in emergencies
Limits vary by age and year (e.g., $7,000 to $8,500)

✔ Open a brokerage account

She prefers long‑standing firms like Charles Schwab and Fidelity that allow fractional investing.

✔ Time in the market beats timing the market

Small consistent investments grow over time; you don't need large sums to start.

✔ Always research

Look at a company’s history, layoffs, strategy, and performance over time before investing.

5. Combining Law + Finance Gives Clients Full Protection

Lisa explains the unique advantage of running a financial literacy firm and a law firm: 
Legacy Building: teaches people to build assets
Moraine Law: protects those assets

This integrated model helps clients avoid mistakes, shield wealth, and plan for long-term financial security.

6. Her Vision for Legacy Building LLC

In 5 years, she sees:
National and international expansion
Partnerships with small businesses
Partnerships with government agencies where employees earn good salaries but lack financial education
Increased financial literacy and asset acquisition among minority communities
Becoming a leader in helping everyday citizens gain confidence investing in the market

📣 Notable Quotes from the Interview

Below are standout quotes directly from the transcript (with citations).

On the value of being on the show

“Each time the show aired, I received numerous calls and some of those calls converted into clients.”

On the core of Legacy Building

“I was always curious about how we could all change our financial projection and help communities.” 

On her motivation

“Helping people has always been at my core… I took great pleasure in serving the public.” 

On money mindset

“When we grow up with lack, we adopt that lack mentality… We already start from a place of ‘we don’t have it.’” 

On investing

“You’re leaving money on the table if you don’t contribute enough to get the 401(k) match.” 

On the importance of estate planning

“You’ve worked so hard for your assets, and without a plan, the state decides how they get distributed.” 

On the power of a trust

“A trust dictates your wishes and allows for effective management of your assets during life.” 

On investment strategy

“It’s time in the market, not timing the market.” 

#SHMS #STRAW #BEST

Listen and Subscribe to Money Making Conversations&nbsp;on&nbsp;<a href="https://www.iheart.com/podcast/1119-money-making-conversation-28341098/" data-auth="NotApplicable" data-linkindex="0">iHeartRadio</a>,&nbsp;<a href="https://podcasts.apple.com/us/podcast/money-making-conversations-master-class/id1264705641" data-auth="NotApplicable" data-linkindex="1">Apple Podcasts</a>,&nbsp;<a href="https://open.spotify.com/show/3ABAQdTXqAnhGwxrsjFa5y" data-auth="NotApplicable" data-linkindex="2">Spotify</a>, or wherever you listen to podcasts. New Money Making Conversations episodes drop daily.&nbsp; I want to alert you, so you don&rsquo;t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur.&nbsp; Keep winning!
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Lisa Mulrain.
CEO of&nbsp;Legacy Building LLC and founder of Mulrain Law, in a wide‑ranging conversation about financial literacy, credit repair, estate planning, community impact, and the mindset shifts required for long-term financial success. The discussion highlights her personal journey, her transition from federal service to entrepreneurship, and her mission to educate and empower individuals&mdash;especially in minority communities&mdash;to build and protect wealth.
<hr>
🎯 Purpose of the Interview
The purpose of Lisa&rsquo;s appearance on&nbsp;Money Making Conversations Masterclass was to:
1. Educate listeners on financial literacy
She breaks down credit repair, debt management, estate planning, and smart investing in simple, actionable terms.
2. Promote her services
Lisa shares how Legacy Building LLC helps clients strengthen their financial footing and how Moraine Law protects the assets they build.
3. Inspire financial empowerment
Lisa&rsquo;s personal story&mdash;from growing up in a financially challenged environment to becoming a securities attorney and entrepreneur&mdash;reinforces the idea that financial transformation is possible for anyone.
4. Encourage mindset change
She stresses that financial improvement begins with understanding one&rsquo;s money mindset, especially for people raised in environments of scarcity.
<hr>
💡 Key Takeaways
Below are the major themes and lessons Lisa shares throughout the discussion.
<hr>
1. Your Money Mindset Shapes Your Financial Life
Lisa emphasizes that many financial problems stem from long‑standing beliefs formed during childhood&mdash;especially in communities where money was scarce. People often develop a &ldquo;lack mentality&rdquo;, influencing decisions like using credit irresponsibly or putting bills in a child&rsquo;s name.&nbsp;
She teaches clients to first understand why they ended up in financial trouble before addressing how to fix it.
<hr>
2. Credit Repair Requires Understanding the Root Cause
Lisa rejects quick‑fix credit repair approaches. Instead, she helps clients:&nbsp;
<ul>
<li>Assess what led to their financial hardship</li>
<li>Identify self-inflicted issues (overspending, poor planning)</li>
<li>Contact creditors directly</li>
<li>Negotiate payoffs or settlements</li>
<li>Avoid repeating the same mistakes</li>
</ul>
She notes that high‑interest credit cards (often 20%+) make it nearly impossible to pay off debt without a consolidation strategy.
<hr>
3. Estate Planning Is Essential&mdash;Not Optional
Lisa stresses that everyone, not just wealthy people or seniors, needs an estate plan.&nbsp;
Key points:
<ul>
<li>A will and trust prevent the state from deciding what happens to your assets.</li>
<li>Even celebrities like Prince and Aretha Franklin suffered consequences of no estate plan, leading to long probate battles.</li>
<li>Trusts allow individuals to manage their own assets during life and ensure smooth transfer after death.</li>
<li>Estate planning protects homes, bank accounts, cars, jewelry, and other valuables.</li>
</ul>
She also explains that a trust must be funded and a will acts as a secondary backup.
<hr>
4. Smart Investing Starts Early and Happens Consistently
Lisa outlines a clear investing roadmap:
✔ Use employer 401(k) match
Not contributing at least, the match percentage (e.g., 4% in federal roles) means leaving free money on the table.
✔ Open and fund a Roth IRA
<ul>
<li>After‑tax money &rarr; tax‑free growth</li>
<li>Contributions can be withdrawn without penalty before age 59&frac12; in emergencies</li>
<li>Limits vary by age and year (e.g., $7,000 to $8,500)</li>
</ul>
✔ Open a brokerage account
She prefers long‑standing firms like Charles Schwab and Fidelity that allow fractional investing.
✔ Time in the market beats timing the market
Small consistent investments grow over time; you don't need large sums to start.
✔ Always research
Look at a company&rsquo;s history, layoffs, strategy, and performance over time before investing.
<hr>
5. Combining Law + Finance Gives Clients Full Protection
Lisa explains the unique advantage of running a financial literacy firm and a law firm:&nbsp;
<ul>
<li>Legacy Building: teaches people to build assets</li>
<li>Moraine Law: protects those assets</li>
</ul>
This integrated model helps clients avoid mistakes, shield wealth, and plan for long-term financial security.
<hr>
6. Her Vision for Legacy Building LLC
In 5 years, she sees:
<ul>
<li>National and international expansion</li>
<li>Partnerships with small businesses</li>
<li>Partnerships with government agencies where employees earn good salaries but lack financial education</li>
<li>Increased financial literacy and asset acquisition among minority communities</li>
<li>Becoming a leader in helping everyday citizens gain confidence investing in the market</li>
</ul>
<hr>
📣 Notable Quotes from the Interview
Below are standout quotes directly from the transcript (with citations).
On the value of being on the show
&ldquo;Each time the show aired, I received numerous calls and some of those calls converted into clients.&rdquo;
On the core of Legacy Building
&ldquo;I was always curious about how we could all change our financial projection and help communities.&rdquo;&nbsp;
On her motivation
&ldquo;Helping people has always been at my core&hellip; I took great pleasure in serving the public.&rdquo;&nbsp;
On money mindset
&ldquo;When we grow up with lack, we adopt that lack mentality&hellip; We already start from a place of &lsquo;we don&rsquo;t have it.&rsquo;&rdquo;&nbsp;
On investing
&ldquo;You&rsquo;re leaving money on the table if you don&rsquo;t contribute enough to get the 401(k) match.&rdquo;&nbsp;
On the importance of estate planning
&ldquo;You&rsquo;ve worked so hard for your assets, and without a plan, the state decides how they get distributed.&rdquo;&nbsp;
On the power of a trust
&ldquo;A trust dictates your wishes and allows for effective management of your assets during life.&rdquo;&nbsp;
On investment strategy
&ldquo;It&rsquo;s time in the market, not timing the market.&rdquo;&nbsp;
<hr>
#SHMS #STRAW #BEST

Hi, this is Rushion McDonald. Welcome to the podcast world of Money Making Conversations Master Class. I interview profits and nonprofits to learn their "Secrets to Success."  I'm a former IBM Executive with a degree in Mathematics. I started my entrepreneurial career as a stand-up comic, then became a sitcom writer, award-winning baker, social media influencer, award-winning television Executive Producer, and brand architect for super-successful celebrities and products. Money Making Conversations Master Class interviews a diverse group of celebrities, entrepreneurs, and influencers in the financial and business community with their advice and tips so you can be successful, too. It's time to stop reading other people's success stories and start building your own. People always talk about their purpose or gifts. If you have a gift, Lead with your Gift, and don't let your friends, family, or co-workers stop you from planning or living your dream. Keep Winning!

https://www.moneymakingconversations.com

https://www.youtube.com/MoneyMakingConversations

https://www.facebook.com/MoneyMakingConversations/

https://twitter.com/moneymakingconv

https://www.instagram.com/moneymakingconversations/

Hi, this is Rushion McDonald. Welcome to the podcast world of Money Making Conversations Master Class. I interview profits and nonprofits to learn their "Secrets to Success."  I'm a former IBM Executive with a degree in Mathematics. I started my entrepreneurial career as a stand-up comic, then became a sitcom writer, award-winning baker, social media influencer, award-winning television Executive Producer, and brand architect for super-successful celebrities and products. Money Making Conversations Master Class interviews a diverse group of celebrities, entrepreneurs, and influencers in the financial and business community with their advice and tips so you can be successful, too. It's time to stop reading other people's success stories and start building your own. People always talk about their purpose or gifts. If you have a gift, Lead with your Gift, and don't let your friends, family, or co-workers stop you from planning or living your dream. Keep Winning!
https://www.moneymakingconversations.com
https://www.youtube.com/MoneyMakingConversations
https://www.facebook.com/MoneyMakingConversations/
https://twitter.com/moneymakingconv
https://www.instagram.com/moneymakingconversations/

Money Making Conversations Master Class

Financial Tips: Her interview educates people on entrepreneurship, financial literacy, credit repair, estate planning.

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/524f6db1-9649-4f61-ae61-b3e700183a75/transcript