-The financial management issue, affects most middle class Americans...it's just a bigger problem for Blacks.

It's not just about enterprenurship, remember most Businesses Fail. It's about handlin yo' bidness, financially. If you do that, you can become financially sound even if you have a job. People who aren't sound financially, got that way because they don't know how to manage their finances, not because they work for someone else.

Even if they have their own Businesses, they'll manage their money the same way.

Being able to manage your money, is more important then were it comes from.

True Story:

A friend of my mentor, worked for GE for 24 years......started as an Intern back in the 70s. From day one he maxed out his 401k contributions, kept an eye on it and managed it wisely. Eventually the value of his 401k hits 1.4 million dollars, he adds up the value of his house, bank accounts, brokerage accounts and IRA and realizes he's worth well over 2 million bucks.

He quits his job because he realizes that 1/2 way decent asset management, he can have a 6 figure income after paying the capital gains tax, just off the interest and appreciation of his investments.

He gets bored though, starts half heartedly looking for a new job. Asking a ridiculous salary, (and to have Friday's off) just for fun......eventually, someone makes him an offer.

So what happens when manage your money right?

You don't have to live like a pauper either, just live beneath your means.


Anyway, I'm preaching to the choir here. :) I'm just like you with my loot, I've got months worth pay saved up, loot chillin in brokerage accounts and I make it a point to live well....but below my means. Something I learned from my Pops.

Something else I learned from him, (and I practice) is to work for someone and then have a small business on the side. The job pays living expenses and you use the business for investment money and savings... and to tide you over if you get laid off.

Blacks need to learn to be financially savvy more then learning enterprenurship. Otherwise, they'll work for themselves and still be in debt.



peace,




M2