Are Married Families The Starting Point For Black Wealth?

I saw this post on social media: "Generational wealth starts with the married family."

While I think it is almost essential for more Black people to become wealthy on the foundation of stable viable families (because 2 incomes or people working together is better than one) I think it starts with individuals getting financial literacy.

If you have a married family of shop-a-holics and people who don't save, invest, and endeavor to own businesses and multiple streams of income - you're going to have a broke married family. I do agree more of us could acquire wealth if we could stay married and work together informed on how to build wealth.

Should Black Men Pay All The Bills In A Family?

This post is in response to a meme of a Black male claiming he pays all the bills and his woman shouldn't have to pay for anything.  This is head of the household thinking from back in the 1950s. 

Today Black men and women have to work together to get ahead.  We live in an economic apartheid in the US.  Black wealth is on average only 1/10th of white wealth.  Whites own $100 trillion in wealth to Blacks only owning $4 trillion.

This society sucks all the income out the Black community in taxes, undervalued property, and controlling the economics in our community. They take all the money from our 401Ks, pension funds, and stocks and invest it in white owned corporations and startup companies.

Most Blacks will need 2 incomes just to get ahead because we only get paid 60% of what whites get paid for the same jobs.  The average white high school grad gets paid more than a Black college grad.

I think if Black couples really understood the economic racism against us we would work together more.  We have to work together harder and smarter.

Why Many Black Businesses Need Multiple Streams of income

Me and My 2 Sisters

Black people usually need multiple streams of income because they get very little (less than 2%) in venture capital or angel investing equity financing to expand their businesses. So they are many times looking for other ways to generate income.

Our families also have less money to help us invest in businesses. The truth be told we get very little small business loans and federal contracts to grow to scale. We also get less job income statistically.

For instance the average Black college grad makes less money than White high school grads in the US. So you have to be looking for multiple streams of income constantly.

I definitely have income streams that make a lot more now than when I started in business. I am scared to think what would have happened to me if I wasn't looking to expand into multiple streams of income in the past. I'm still looking at ways to expand today. 

A Mind Is A Terrible Thing To Waste

 

Well look at Africa. It looks free but Europe and now China exploits all their resources and money.

Blacks want to focus on everything but economic development. Even if you want to have an collective economic program you need a plan.

You have to take care of your family and community - how can you do it without financial resources? That is why Africa and Blacks were used to build other people's wealth. In this country whites have 10 times the wealth of Black people. In the US whites own 100 trillion dollars in wealth to Blacks 4 trillion.

If you're not talking economic wealth for Blacks in the US and in Africa bruh you're just wasting your time. Blacks go to prison more than whites because many of us can't afford lawyers. 70% of Blacks in incarcerated are there because they can't post bond.

Are we serious? Let's Study economics fast. Log off social media and learn about business and economics. A mind is a terrible thing to waste.

Are Blacks Political Suckas?

Are Blacks Political Suckas?  A Black dude on Facebook claimed we are.  He cited that the new Biden/Harris Ticket was basically not going to do anything for Black people. 

In my opinion: Black organizations from broad perspective are putting pressure on Biden/Harris. People from established politicians over cabinet picks, progressives on social programs, and nationalist on reparations. So I wouldn't call us suckers. Really I think your assessment is off based.

Blacks are largely in the position they are in because we are less economically organized. It has less to do with politics. We need more economic focus and using our income to develop more viable Black businesses and institutions. The other side GOP is the party offering even less than the dems financially to Blacks. I bet if the GOP offered serious reparations to Blacks then Blacks would switch parties. But we both know that isn't happening right?

Good Things Comes In Pints

 

OMG! I just ate a pint of Ben & Jerry's Ice Cream before my dinner. I haven't ate a whole pint of ice cream in 23 years since someone explained to me you can work out all you want but if you eat a pint of ice cream everyday you're gonna be fat. Hahahahaha!

Increase Your Memory As You Mature

As you mature it is a good idea to practice memory exercises to compensate for the loss of short term memory. I try to remember people I met years ago, Facebook friends names, and phone numbers.

I don't use contacts speed dialing I try to remember all my contacts and even client numbers in my head. You'd be surprised how it will increase your memory.

I have friends who think I have an incredible memory. Little do they realize I do memory exercises. I have a client who is an expert on aging. He told me to do memory exercises. K@...