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Subject: "RE: Why don't Black kids go to college?" This topic is locked.
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M2
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Tue May-01-01 11:49 AM

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24. "RE: Why don't Black kids go to college?"
In response to In response to 20


          

-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

The Blog: http://www.analyticalwealth.com/

An assassinís life is never easy. Still, it beats being an assassinís target.

Enjoy your money, but live below your means, lest you become a 70-yr old Wal-Mart Greeter.

  

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Why don't Black kids go to college? [View all] , loryn, Mon Apr-30-01 07:05 PM
 
Subject Author Message Date ID
Plain and simple
Apr 30th 2001
1
Not so plain, but kinda simple....
dobiewonk
May 01st 2001
12
      hold on
May 01st 2001
13
      RE: hold on
dobiewonk
May 01st 2001
16
      RE: hold on
May 02nd 2001
36
           RE: hold on
dobiewonk
May 04th 2001
47
      I don't know....
May 02nd 2001
37
           RE: I don't know....
May 03rd 2001
44
      Back when I was in school, we walked 4 hours in the snow..........
dobiewonk
May 01st 2001
14
           So you must know Jerwayne Ellis!
May 01st 2001
22
couple reasons
May 01st 2001
2
good point:
May 01st 2001
7
RE: couple reasons
May 01st 2001
8
RE: couple reasons
May 01st 2001
9
      of course....
May 01st 2001
21
No shit.
May 04th 2001
49
Money, Cash, hoes.....
May 01st 2001
3
RE: Money, Cash, hoes.....
May 01st 2001
4
      RE: Money, Cash, hoes.....
May 01st 2001
28
      It's simple
May 02nd 2001
38
      RE: Money, Cash, hoes.....
msm200
May 02nd 2001
42
Maybe a another question is...
May 01st 2001
5
and yet another question is
dobiewonk
May 01st 2001
15
      RE: and yet another question is
msm200
May 02nd 2001
43
RE: Why don't Black kids go to college?
May 01st 2001
6
RE: Why don't Black kids go to college?
ladyt277
May 01st 2001
11
RE: Why don't Black kids go to college?
May 01st 2001
10
Additional input
ladyt277
May 01st 2001
17
      RE: Additional input
dobiewonk
May 01st 2001
18
      In fact
May 02nd 2001
39
      i don't understand
May 02nd 2001
40
      RE: i don't understand
dobiewonk
May 04th 2001
46
           trivialization
May 05th 2001
50
                RE: trivialization
dobiewonk
May 07th 2001
51
      WHAT?!
May 02nd 2001
41
      who does more..
May 01st 2001
19
RE: Why don't Black kids go to college?
musha
May 01st 2001
20
it's not for everyone
May 01st 2001
23
RE: Why don't Black kids go to college? --Answers
ladyt277
May 02nd 2001
30
--Answers
ladyt277
May 02nd 2001
31
RE: Why don't Black kids go to college?
dobiewonk
May 02nd 2001
33
lowered expectations, maybe?
May 01st 2001
25
yeah
May 01st 2001
27
I'm not sure about this
May 01st 2001
26
RE: I'm not sure about this
May 01st 2001
29
RE: Why don't Black kids go to college?
May 02nd 2001
32
RE: Why don't Black kids go to college?
dobiewonk
May 02nd 2001
34
      do the hustle
May 02nd 2001
35
Here's the truth
May 03rd 2001
45
BASTA!!!!
Wise_7
May 04th 2001
48

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