As a child, Angela Duncan didn’t really understand money—only that her family didn’t have much of it. They bounced from place to place, living in motel rooms, garages, Section 8 housing and even cars.
But as she got older, she began to realize that mastering money was her ticket out of poverty and abuse—and she set out to learn as much as possible about business, personal finance and building wealth.
Today, she’s helping others do the same with Empower HER Money, a podcast about financial independence and entrepreneurship. Duncan is also a financial consultant for the private investment firm Drive Planning and author of the book Empower YOUR Money: 101 Simple Ways for Female Entrepreneurs to Create Financial Freedom.
Her journey hasn’t been easy. But Duncan hopes that, by sharing the many lessons she’s learned along the way, she can help other women take control of their finances and build the life they want—just like she did.
“It took me a long time to tell my story,” she says. “I was embarrassed about growing up in poverty and the childhood I endured. But actually, it was a blessing…. When you grow up with money, you don’t always appreciate the work that goes into it. [My upbringing] taught me how to work hard and understand the value of a dollar. It drove me forward. I thought, ‘If I just worked harder, if I just had more education, then I would be able to accomplish things.’”
‘That’s what makes them happy’
Duncan’s childhood was filled with hardship. Even so, she was always an entrepreneurial kid. She remembers going door to door with her cousins, trying to sell origami creations for 25 cents apiece.
In high school, she saw that her peers lived in nice houses and drove their own cars to school while she was stuck taking the city bus. This only further fueled her desire to change her situation. “I thought, ‘They must have more money than we do. That’s what makes them happy,’” she says. “I had this idea that money was important, and so I should learn more and study it in school. That’s what started me on my financial journey.”
Heart-centered investing
When Duncan turned 18, she signed her own lease and finally broke free from her troubled family situation. She put herself through college by working multiple jobs. It took five years, but she graduated with a degree in accounting and finance from California State University San Marcos.
One of those jobs was at a bank, which opened her eyes to the inner workings of the nation’s money system. While there, Duncan began working for a female financial adviser, who taught her about investing—and, more specifically, about the unique way women tend to approach finances.
“As women, we’re heart-centered. And I could just tell when she sat with a client, she cared about them and they could feel that from her,” Duncan says. “When someone knows you care about them, then they’re going to listen to what you have to say. If you miss that piece, then you become a salesperson, which is what a lot of men in our world do.”
Duncan got her real estate license in 2007—just as the Great Recession hit and right before the housing market crashed. But that was just another hurdle to overcome. Working alongside her now-ex-husband, she helped build a thriving real estate business in Tampa, Florida.
As the couple’s income grew, they prioritized reinvesting in themselves and their business. They hired a coach, read library books, watched YouTube videos and attended every training course available through their brokerage. They also actively networked with other professionals, even those who were outside their field, to glean helpful insights and tidbits.
“No matter where you are in life, no matter what business you’re running, you have to invest in your own education,” Duncan says.
Helping others
Though her marriage ultimately ended in divorce, Duncan got a chance at a fresh start. She moved to Miami, where she started and grew a successful insurance company. She sold that business in February 2023 and had planned on retiring but quickly grew bored, as entrepreneurs often do. Duncan began booking speaking engagements and realized she had a passion for sharing her own hard-earned knowledge with others. Her college-aged daughter suggested she try reaching an even bigger audience by launching a podcast.
That was in June 2023, and since then, Duncan has put out more than 200 free episodes. She invites female entrepreneurs onto the show, where they talk about their successes and challenges, as well as share tips for listeners. Her private investing work is another avenue for helping people reach their financial goals.
“It has taken me a long time to get to where I’m at, which is why I’m so passionate about teaching women about money,” she says. “I break it down into simple steps so they can create their own goals, take action and work toward financial freedom. I can be their cheerleader and help them along the way.”
Duncan’s advice for achieving financial success
1. Get familiar
Before you can improve your financial situation, you need to have a solid understanding of your income and expenses. It might seem daunting, but Duncan recommends printing out three months of bank and credit card statements and then setting aside 30 distraction-free minutes to comb through them. “Because what you’re going to find if you haven’t done this is that you’re wasting money,” she says. “And if you find things that are not serving your financial goals, like subscriptions, cancel them.”
2. Pick one lane
If you’re curious about investing but don’t know where to start, Duncan suggests focusing on just one strategy that interests you. “Maybe you love cars, so you’re going to invest in antique cars,” she says. “Pick one lane, [then] spend the time to educate yourself.”
3. Align your values
Before you go into business or invest your money with someone, do your due diligence. “Ask them questions about their values,” she says. “We don’t know how someone’s going to react until crunch time. Ask them, ‘What would happen if we had a downturn in the market? How would you respond?’”
This article originally appeared in the September/October 2024 issue of SUCCESS magazine. Photo by ©Daria Loff
