During her childhood, Angela Duncan had a limited grasp of money, only realizing that her family lived with very little of it. They frequently moved from one place to another, residing in motels, garages, government-subsidized housing, and occasionally in cars.
As she matured, however, Duncan started to understand that gaining financial literacy could be her escape from a life of poverty and abuse. This motivated her to delve deeply into the realms of business, personal finance, and wealth accumulation.
Currently, she assists others in achieving similar goals through Empower HER Money, a podcast focused on financial independence and entrepreneurship. In addition, Duncan works as a financial consultant at the investment firm Drive Planning and has authored the book Empower YOUR Money: 101 Simple Ways for Female Entrepreneurs to Create Financial Freedom.
Her path has been fraught with challenges. Nonetheless, Duncan aspires to share the many valuable lessons she has gathered throughout her journey, with the hope of helping other women take charge of their finances and shape the lives they desire—just as she has done.
“It took me a considerable amount of time to share my narrative,” she reflects. “I felt ashamed about growing up in poverty and the experiences I endured. Yet, in hindsight, it was a blessing…. Growing up without money instilled in me a deeper understanding of the effort needed to earn it. [My background] motivated me to work diligently and appreciate the worth of every dollar. I believed that with more hard work and education, I could achieve great things.”
‘That’s what brings them joy’
Duncan faced numerous hardships in her early years. Despite this, she was always inclined toward entrepreneurship. She fondly recalls going door to door with her cousins, trying to sell origami designs for 25 cents each.
In high school, witnessing her classmates living in beautiful homes and driving their own cars made her aware of her own circumstances, as she relied on public transportation. This realization intensified her determination to alter her situation. “I thought, ‘They must have more financial resources than we do. That’s the key to their happiness,’” she states. “I was convinced that money was significant, prompting me to learn more about it and study it further in school. Thus began my financial exploration.”
Investing with Heart
At the age of 18, Duncan signed her first lease, finally liberating herself from her tumultuous family environment. She supported herself through college by juggling multiple jobs. After five years, she earned her degree in accounting and finance from California State University San Marcos.
One of her jobs at a bank exposed her to the country’s financial system from the inside. During this time, Duncan worked alongside a female financial adviser, who introduced her to investing and highlighted the distinct way women often approach financial matters.
“Women tend to be heart-centered. I could see that when she engaged with clients, she genuinely cared, and they could sense it,” Duncan explains. “When clients know you’re invested in them, they’ll be more receptive. If that connection is lacking, you risk becoming a mere salesperson, which is a common approach among many men in finance.”
Duncan obtained her real estate license in 2007, coinciding with the onset of the Great Recession and just before the housing market downturn. Nonetheless, this challenge became just another hurdle to navigate. Collaborating with her now-ex-husband, she contributed to establishing a successful real estate business in Tampa, Florida.
As their income increased, the couple made it a priority to reinvest in their education and business. They sought coaching, browsed library materials, viewed YouTube tutorials, and participated in numerous training opportunities offered by their brokerage. They also networked with professionals from various fields to gain valuable insights.
“Regardless of where you find yourself in life or what kind of business you operate, investing in your education is crucial,” Duncan advises.
Empowering Others
Although her marriage ended in divorce, Duncan embraced a new beginning. She relocated to Miami, where she founded and expanded a lucrative insurance company. After selling that business in February 2023, she initially planned to retire but soon felt restless, as is often the case for entrepreneurs. She began accepting speaking engagements and discovered her passion for imparting her hard-won knowledge to others. Encouraged by her college-aged daughter, she decided to reach a broader audience by starting a podcast.
This venture began in June 2023, and since then, Duncan has released over 200 free episodes. She invites fellow female entrepreneurs to share their journeys, including their achievements and hurdles, while offering valuable advice for listeners. Her work in private investing also serves as another pathway for aiding individuals in achieving their financial aspirations.
“My journey to where I am now has been long, which is why I am so dedicated to educating women about financial matters,” she says. “I simplify the process into manageable steps so they can set their own objectives, take the necessary actions, and strive for financial independence. I can cheer them on and support them through each phase.”
Duncan’s Recommendations for Financial Achievement
1. Familiarize Yourself
To enhance your financial situation, it’s essential first to comprehensively understand your income and expenditures. While this may seem overwhelming, Duncan advises printing out three months’ worth of bank and credit card statements and dedicating 30 uninterrupted minutes to review them. “You may discover unnecessary waste,” she notes. “If you find expenses that don’t align with your financial goals, like unwanted subscriptions, it’s time to cut them.”
2. Choose One Path
If you’re interested in investing but unsure where to begin, Duncan recommends narrowing your focus to just one strategy that intrigues you. “For instance, if you’re passionate about automobiles, consider investing in classic cars,” she suggests. “Establish your lane, and then dedicate time to educate yourself.”
3. Align With Your Values
Prior to entering a business deal or investing your funds, conduct thorough research. “Inquire about their values,” she suggests. “We often lack insight into how someone will react in challenging situations. Ask them, ‘How would you respond if the market saw a downturn?’”
