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Subject: "great post M2" This topic is locked.
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CantCBob
Member since Aug 13th 2002
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Tue Jul-22-03 03:25 AM

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35. "great post M2"
In response to In response to 25


  

          

and I'd like to add that if someone were to follow the plan set up by couple B and add to it some estate planning so that they could better transfer their wealth to their children, Couple B's children would be starting from a financial point significantly greater than the average person. you were talking about spending 5% less as a people. now just imagine if that 5% was invested with the sole purpose of passing it on to future generations. but why stop at 5%? its all about wealth building and estate planning. what I think is fucked up about our country is that it seems like white people are the only ones who know about that kind of shit. black people don't engage heavily in wealth building and estate planning out of some genetic deficiency or some bullshit like that, they're excluded for the most part because they don't have access to the resources that teach them how to do it. take a walk down any street in most cities in this country that have a large black community and ask them what a 401K is or as them what an irrevocable family trust is, you'll get a lot of blank stares. that's sad. its not because they're stupid or have a consumer mindset, its because nobody has taken the time to bring this knowledge to the black communities. fuck black own businesses right now, that's not what's gonna bring about economic equality. what needs to be done is more financial planning services for minorities. now obviously it won't be the most lucrative industry due to the relatively small amounts of money involved with lower class families, but it would be a very beneficial social service that say a charitiable organization could engage in. its just sad that there's so many white kids growing up in america that don't know what the fuck a trust is either, but the difference is that they still have one that their parents set one up for them when they were born. what needs to happen is more blacks need to be educated about the benefits of wealth building and then you will see more participation and eventually economic equality.


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Does black america have real wealth? [View all] , Chris40, Fri Jul-18-03 08:55 AM
 
Subject Author Message Date ID
The Real Issue
Jul 18th 2003
1
So M2
Jul 19th 2003
2
My beef with M2's
Jul 19th 2003
3
Wealth Building is Simple Math
Jul 19th 2003
7
the east indian community in houston
Jul 19th 2003
4
RE: the east indian community in houston
Jul 19th 2003
5
Based on What?
Jul 19th 2003
8
      I guess you have to see it to understand
Jul 19th 2003
9
           Okay.......
Jul 19th 2003
10
                lol
Jul 19th 2003
14
                     Abandon Fantasy
Jul 19th 2003
15
Missing the Point Entirely
Jul 19th 2003
6
At the risk of sounding ignorant..
Jul 20th 2003
18
      It wasn't meant as a Rebuttal
Jul 20th 2003
22
RE: So M2
Jul 19th 2003
11
Excellent Points
Jul 19th 2003
12
RE: So M2
Jul 20th 2003
17
      not nearly on the same level
Jul 20th 2003
20
RE: The Real Issue
Jul 20th 2003
16
Which only enriches certain individuals
Jul 20th 2003
23
      RE: Which only enriches certain individuals
Jul 21st 2003
28
RE: The Real Issue
Jul 21st 2003
30
      Prove me Wrong
Jul 21st 2003
31
In my center
Jul 19th 2003
13
the trend of convergence.
Jul 20th 2003
19
      RE: the trend of convergence.
Jul 20th 2003
21
           can u elaborate
Jul 22nd 2003
32
                RE: can u elaborate
Jul 22nd 2003
33
                     Further
Jul 23rd 2003
37
                          RE: Further
Jul 23rd 2003
38
the main issue
Jul 20th 2003
24
ding ding ding
Jul 22nd 2003
34
Defining Wealth Building
Jul 20th 2003
25
      Seek and you shall find
Jul 22nd 2003
36
nice read
Jul 20th 2003
26
80% of all Businesses fail in Five Years
Jul 21st 2003
27
I USED THE WRONG TITLE TO THIS TREAD!!!!
Jul 21st 2003
29

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