Get it Gone, Student Loan 

Duck, Duck, Student Loans, Get Gone ! – Section8

“First off congrats on all you dummies who took out so much money for bills, groceries, 2016 chargers, challengers, dates, drugs, & new clothes! You now owe all that plus more back in student loans.” – Section8Investor

Anyway, let’s talk about a solution that could possibly get you out of that nasty debt. I call it the student loan challenge. Yes, the Student Loan Challenge ! Let’s not act like America isn’t 1.2 Trillion Dollars in Debt. A whopping 44.2 Million Americans have student loan debt! That number is scary than ever. Also, the graduating class of 2017 owes roughly 35K a piece for their undergraduate degree, let’s not even talk graduate degrees (Masters). The crazy thing is these numbers are steady climbing! How the hell are you even thinking about buying a house or start investing…… different story, different blog. Anyway, that’s why a friendly game of Get it Gone, Student Loan is exactly for “YOU”.

Get it Gone, Student Loan 

I remember after I received my undergraduate degree, I was thinking to myself how in the world am I going to pay these student loans? It was a disaster I tell you an complete nightmare. Unfortunately, in the Black Community we like to hide our money problems and act like we are a part of the 3 percent, so you could imagine how alone I felt while playing this game by myself. Which sucked a**! Well not literally, – but you catch my drift. 6 months after you graduate school, best believe Sally Mae and her corporate assiciates is coming for your soul and everything else you own; No call or heads up, just a piece of paper in the mail with your outstanding balance. Don’t let it get you down, it’s now time to take action and that’s why Get it Gone, Student Loan is the perfect game for you and your broke non-invested friends!

Game Instructions 

  • Preferably 3 or more friends who all have high amounts of student loan debt
  • Set a 1 year goal and a hundred dollar buy in to play
  • Check in monthly too see who takes the lead (Motivational Purspose)
  • Winner who paid the most take home the money (hopefully it goes to student debt)
  • Play again until each of your students loans disappear forever

It will be a challenge but don’t give up. This game will teach you how to handle money as well throughout the course. Student loan debt is causing harmful damage to the economy, especially if you are from the Lower Class. There are other downfall factors you may face already while living in the Lower Economy (unemployment, minimum wage, single parent, & other debt). Don’t let it dry you up, take it by the horn and ring it out!

6 Retiree Financial Regrets

Many times we enter our retiree age with a lot of regrets. We sort of wish we could go back in time with our space machine and change the hands of time. One thing for certain we will never get back is our time. That’s why it is very crucial we are planning for the future even if we don’t see it. I’ll rather be taking the steps now not knowing when my last day on earth is going to be instead of not doing so and living until I am 65.

Here are 6 Retiree Financial Regrets:

1.) Not Saving enough for Retirement !

Must feel great to finally retire and realize you have nothing to support the following 40 years that’s comes after it (sarcastically stated)! This is the problem many of us have when we finally leave the work force. I couldn’t tell you how many times I have seen the elderly cry because they found out they still have to work a job way after retirement just because they didn’t have enough to live on. Social security only gives so much and the pension we have known years ago is also deteriorating only being 34 jobs that still has it in America and they are currently finding ways to get rid of. Hell, even the military finding alternate ways for pension plans starting the upcoming year (2018) with TSP Options. You have to save and invest in your retirement vehicles now.

2.) Not Saving enough for Emergencies !

Knock, knock! Who there? Bank account! Bank account who? Bank account with the low savings amount!

I know corny right? Seriously, saving for emergencies is vital when you are living on your on and have responsibilities to handle. Americans just don’t save as we trail our countries who pay more in taxes and have way less opportunities than we have in this rich country. In fact, less than 69% of Americans have a 1,000 saved for emergencies. That tells me that when a tragedy happen far as getting the car fixed, pipes fixed, and bills paid we are steadily stressing and dragging ourselves in more debt. By not Saving enough for Emergencies we are setting ourselves up for failure every time. Your emergency fund need to be at least 3 to 6 expenses stashed away for a rainy day!

3.) To Much Student Loan Debt !

We all know Student loan debt is steady climbing throughout America. With its 1.4 Trillion Dollar debt spread among 44 million college graduates it is safe to say many are doomed. With high interest rates and low job rates it’s hard to even think about buying a house or paying the debt off. As hard as it may seems it is important to get rid of those student loans. Too much student loan debt could hold you back from building wealth and prospering in your retirement years.

4.) To Much Credit Card Debt !

All I hear is swipe me when I receive a new credit card offer through the mail. I politely open it up and laugh at the interest rates and cut it up. The abuse of credit card debt is real in America as we are heavy consumers and buy, buy, and buy trying to impress everyone except ourselves. Together combined from the states of 2016 we have a total of 765 Billion credit card debt bill owned by Americans in the United States. Must be great to be an American right? That’s why it is imperative you live below your means and stop relying on credit cards. You will never get ahead if all you do is depend on credit cards to get you out of a crisis. You would be paying the debt from your grave or worse your kids will take on the bill. Yes, it is coming to your following generation paying the bill, so why do yourself or family like that?!

5.) Not Saving too Much for Children’s Education !

I firmly believe if you took the time to lay away and have sex to make the baby, it is your duty as a parent to provide everything you possibly can to send that child to college. Not saying you have to pay it all but at least have it to where he or she doesn’t graduate with a phone number (9,999,999,999). You have to save for your child’s education or else it will come back to bite you in the behind or better yet the child’s behind. Their are many investment vehicles you could open up prior to the baby being born such as the 529 College Savings Plan. This is a tool used to make sure your child goes off to college and it gives you tax breaks.

6.) Buying a Bigger House than you could afford !

Law states that your housing bill shouldn’t exceed 28% of your income. No matter if it is rented, financed through a mortgage, and including the bills. Most of us want to live life like the joneses throughout our earlier years and we spend more than half of our wealth on a house we don’t need. We become more and more in debt, have kids, and realize it wasn’t worth the hassle in the end. There are many wonderful cheap houses in America. There is now need to run to a gated community or in the “White neighborhood” as I should call it. May sound biased but this is how we call it coming from the infested ghettos and HUD Housing. Anyway, it is important you tally in your Housing expenses and don’t spend a large part of your wealth on a house that could go down in flames any giving day. Your retirement counts on you to make better decisions.

No Rich Parents; No Assistance 

“Hard times make the toughest Men” -Section8Investor

I was blessed to have both of my parents through my entire life even in the worst environment, but when it came to financial stability it wasn’t the best. Growing up we struggled, and I mean hard. Staying with inlaws (grandparents), cousins, and friends of the family was hard enough on me mentally. Seeing the struggle first hand molded me. It molded me into a kid who found ways to get money without bothering my mother for it.

Not having rich parents, I had to learn the willingness to build wealth differently than others. I went through challenges and many ups and downs. I took many losses and have been completely broke, but didn’t understand why on many occasions. Staying in the ghetto where every corner had a pawn shop or liquor store, I truly didn’t see any wealth solutions in my community. I had to think outside the box and become distant from the majority.

By having this type of lifestyle at the bottom of the barrel it made me strong. I always tell others if you make it from where I’m from you could do anything you wish in this 1 lifetime. People who experience the depths of hell and struggle know how it’s already like to fail many attempts and be in the dark. That’s what most successful people never deal with because they were born into rich successful homes. We know how to respond when tragedy happens, they don’t.

Having great parents, but not rich parents gave me all the leadway in the world to become successful. The struggle and my bad economy gave me all the confidence in the world today to do what I do and become wealthy. Don’t keep your head down no more. Get up, make a difference, and influence.

Ghetto Poverty

We vanished, vanished, and completely vanished under the surface of America! They focused and focused on ways to drag us underneath the social class of America. They left us for poor and worse as before.

Growing up in poverty seemed normal to me. I had friends just like you and everything seemed perfect. I didn’t realize how poor we actually were until I got older and noticed my surroundings. Pawn shops in every neighborhood, liquors stores on every corner, and barely any jobs that would hire us without the right credentials or color skin.

9 times out of 10 if you grew up in the ghetto you are most likely to go through an significant event. Either you will be robbed, kilt, or end up in prison by default. I hate to say it, but the system is always working against the urban community and black families.

One way to defeat the system is to have a financial IQ. Doing better with your money and managing it better will help you ever than before. Yes, we may come from the ghetto where they count us out, but we can change our circumstances. It will not take a day, month, or even a year but overtime we will get through this.

Save the money and buy items with meaning. Ownership is the only key out of the slums. I know because I came from it and reading is key. We make so much money, we just need to realize that’s our power in the 21st century. Got to learn to spend a 20 save a 50.

Down to 1

Teach others, be dedicated – Justin A. Starks

One more loan to payoff and I am debt free! Once I noticed how much I could be reserving and putting into a wealthy machine, I was determined to break the leash of being a debt slave.

Debt is used to keep us on a tight leash. We see no hope being in debt and that put a pause on everything we want to do in life. We get overwhelmed and depressed, which isn’t good for any of us.

Being debt free isn’t all about money. It’s about having a choice and a voice. By being in debt you have no control over how you want to live your life. That’s scary. By being debt free you have the upper hand on your next move. Either if it’s put your money to work or buying a new shirt feeling guilt free.

By any means do as you please with your money but make sure you are taking the steps to becoming debt free and out of that poor mentality. Don’t plan for Saturday night, lets plan for Four Generations. Anyway, have a blessed day, I just wanted to share I am down to 3,000 and I am debt free! Feels great to say that.

“If you need help or want to talk about your finances. Feel free to email me at Section8Investor@gmail.com”

Doesn’t Make Cents Sunday’s: Giving all your Wealth Away!

Sometimes when you give all your money to the poor, you will become poorer! – Justin A. Starks

Giving all your wealth away isn’t going to help your future self or family. You have to look at your money like a business. Would your employer give money to non-workers? Would your employer ever pay you more than they are supposed to? That answer is absolutely no!!! Then why are you breaking your neck trying to give out your hard earned dollars to people, who don’t even care about you? This could come in the form of spending at stores (non-black owned), and supporting begging family and friends.

If you come from the Inner City Community you should already understand what I mean by giving your wealth away. We sometimes grow up in poor communities with a chip on our shoulder. We are either entitled to help our immediate families or everyone else who hold importance to us in the ghetto. Every time they go down financially we think we have to jump up and save the day, by giving away what we worked hard for. In some cases it is okay to let someone borrow money, but not all the time, because that is taking away from your wealth empire.

Start putting your wealth to use. If you feel like you have more to give out then that monies should be put to a cause. You could flourish by donating, buying more assets, and growing your business. Don’t let others around you keep you down, because they aren’t doing what they are supposed to do. Hold them accountable and if they want to borrow money from you, no matter the amount, make sure they give a reasonable explanation of how they are going to pay you back. Giving away everything once you get paid is just going to turn you into a beggar.

Inner City Let Downs: Extra Money Problems

IMG_2372[1]In order to expand your net worth coming from nothing, you have to do the opposite of what your surroundings are doing – Justin A. Starks

Ever heard of the phrase “Mo money, Mo problems”? Well let’s put that same phrase in rotation and change it to “Less Money, Many More Problems”! Coming from the section 8 community, I have witnessed many different challenges and stress related issues regarding money. This has made me very hungry to do everything in my power to prevent me from going back to that terrible, horrific life style.

Since an early age, I have witnessed firsthand how money was used incorrectly in the inner city communities. We have so much work ethic, but we are just financially stupid. We work many long hours away from our families, some even working 2 jobs, but still use majority of our money incorrectly. These types of behavior start at home and have to change immediately in order to ever surpass your living condition for the better.

In order to change how we look at money, we have to change our mindsets. All I heard around me was people saying they don’t want a lot of money. Was it because they knew they never would reach a certain level of success and gave up on themselves, or because they were content with their low – wage paying non loving job (Owner). We just have been beating up so much mentally that we just give in to how America wants us to be. This is what they want! Throw us away in cages, leave us in the inner city violence with no hope, and never acquire the knowledge we need to get out. Until we unlock our minds as a whole and start turning our actions for the better we will forever be broke violent moneyless junkies, but with a job, house, and car, thinking we are doing better because the next door neighbor is struggling.

Going back to the beginning caption phrase, “Doing what others are doing outside of your surrounding”, is completely true. You see your next door neighbor buy a coupe, doesn’t mean you need to outdo them. Just because you hear your favorite rapper spend 50k on you tube on some diamonds that will not last forever doesn’t mean you have to do the same exact thing once you get that bag rolling in. You have to start doing the opposite of illiterate financial dummies in order to build your financial legacy for you and your generations to come. Be the one who breaks the generation of bad financial choices and not the one who continues to let your generation to fail when it comes to building wealth.

9 To 5’s Destroyed The Majority

IMG_2366[1]“You will never be up working that 9 to 5 alone”. – Justin A. Starks

That intro statement at the top with my name behind it is pure key to your financial future! Only working a 9 to 5 putting in all those hours in isn’t enough to get you to where you ultimately want to be. Let me be the one to crush your dreams right now before you punch that clock any longer, because someone has to do it. That job you hate and still pull up too doesn’t care about your financial stability. That job you take a shower for every night and morning, if you even do, doesn’t care about your sick child at home or when your tire blows out. That job that you repeatedly take abuse from day on and day off, doesn’t care about your feelings or you not paying the bills.

A 9 to 5 alone isn’t going to take you too financial freedom. That job alone isn’t even going to move you and your family of 8 out the hood. If you grew up in a poverty stricken neighborhood like me, then you know that working a measly underpaid job isn’t going to cut it throughout the year. Yeah, you may be receiving that yearly tax check, but I guarantee it will go quick and in a hurry because of unpaid bills you have added up all throughout the past year. It is a never ending game of cat and mouse.

All the time I see friends celebrating they have two jobs that are completely awful. It isn’t smart to get two jobs just to continue going deep in debt and not pushing your purpose. That’s what I call robbing yourself blind. That’s a quick way to end up on a road to depression, because you will never realize how you are setting yourself up for failure.

Me personally have seen how even jobs wasn’t enough to sustain in the ghetto, as we still struggled terribly. There was so many sleepless nights I encountered because 1. I couldn’t eat or 2. I was up hearing my mother cry because we didn’t have enough for the bills. This system failed my family for ages and it’s time it stops at this generation with me. Those vulnerable moments are stuck with me for life as I change the hand of life forever and ever. If you are going to work a 9 to 5 start learning how to invest and utilize your money better. Your money is exactly like time, it is a resource, and once it’s gone, it’s gone forever until you waste another 500 hours getting it back or however time is consumed from that awful thing you call a job.

Lastly, people think just because they work for a certain company or career field they have automatically won this game called life! That’s where we as a majority are wrong. A title has nothing to do with how you stand economically. If you know nothing about starting a business or investing in the stock market or real estate, you will forever play a game of throw the money away. The American Dream will only be a mere dream and leave you hopeless getting deeper in debt, thinking of a wrong way out. We have to stop depending on these 9 to 5’s and use them as a stepping stone. That stepping stone could be running a successful business or utilizing the dollar cost averaging when it comes to investing! Just motivation for my poor folks, hope you pick this up and run with it! Make sure you send me a email to Section8Investor@gmail.com where we can discuss your financial goals! I’m out, Peace and Love!

 

Simple Equation, be Heroic!!

“Don’t let others get you down, & never let your dreams drown”. – Justin A. Starks

Not so Simple

If it was this simple everybody would own a house(s) or have infinite wealth. The key is to not follow broke minded people, but study the game. Your income reflects your closest 5 friends. The reason is their mindset. It’s a big difference hanging around millionaires, than one who make little to nothing and struggling trying to impress their friends. Also, read, read, and read!

Change your scenery

Coming from the hood I was limited on my resources. I was thinking at a high level, but never seemed to get any results, because others just didn’t have the mental capacity as me. This led me to give up on myself and not follow through on my goals. I would start and switch which isn’t the greatest idea when trying to find the motivation and aspiration to build a legacy. It took me to change my scenery to grow. This means from friends and the infested ghetto I had to leave behind. I still keep in touch, but I totally understand our minds are not the same. By doing so, it allowed me to find myself and pursue my true passion and that’s key to living in this world. It may seem very harsh, but sometimes it’s mandatory you do so in order to grow. You don’t have to leave forever but you also don’t have to stick around forever.

Feed your passion

You must first find your passion and decide you want to succeed just as bad as you want to breathe. By having a vision, you will want to strive and live every single day. I remember when I didn’t have a plan, or a vision, but I knew I wanted to become rich and wealthy. I had to first learn how to deal with failure and people. I also had to learn that it is not about the money, but being a better servant for others. If you are really passionate about what you do then money isn’t the issue and it will come eventually. Stick to your plan, grow, and elevate to the next level. Don’t let others get you down and never let your deepest dream drown.

Johnny, Lester, & the 401k

“Corporate Thuggin”- Section8Investor 

Johnny is 21 and is new to his company. The company he works for is called, “Benjamin Guapo LLC”. He’s new, experienced, and has no knowledge on what a 401k is. When asked by his employer to open a 401k he was skeptical because he didn’t think it was a good idea and he heard nothing but horror stories of the stock market and stated he would rather keep it in his regular bank account. He thought it was a complete scam and a game for the criminals. Once he turned down the 401k offer his employer only offered him to think about it and take a couple finance courses they offer around the city.

The following day Johnny was out with a coworker by the name of Sunny Lester. Sunny is also with the firm and has been since 1974. During lunch that evening Johnny asked a serious question. Sunny said, “well young man what is your question”? Johnny asked,”Sunny are you invested in the 401k scam and if so how many years have you been trapped”? Mr. Lester laughed immediately after he heard the question and said, “lad you remind me of myself when I was your age and boy do I regret it”. Sunny gladly discussed his share on the Companies 401K. He told the truth, bad, and the ugly.

Like stated before, Lester joined the company in 1974 at the same age of 21 as Johnny. Mr. Lester admitted to not investing until he was 40 because he was unaware of Compound Interest and the free money it offered with the 5 perfect match. Johnny politely stopped and said, “Compound Interest, what’s that Sunny”? Once again Lester laughed and was so astonished at how so much Johnny reminded him of himself back in 74′.

He gladly explained to little Johnny how Compound Interest works & the whole nine. He even showed Johnny his portfolio with inclusive tips and tricks, but he also told Johnny to be wise, diversify, and invest in what he knows. Taking it all in he didn’t understand the jargon and terminology but once he educated himself the following month he was well aware of the wonderful opportunities of the 401K and Compound Interest. He knew free money could be left on the table and didn’t want that to happened. It was a grab and go one of a kind deal!

That following month Johnny proudly walked in his employers office and demanded the 401k option. Well, well, well,”said bossman”, I see someone figured the beautiful invention of Compound Interest. What made you change your mind? Johnny answered,”a great friend”. Ever since then Johnny has been well invested, saving 15 percent of his income towards his 401k, taking advantage of tax breaks, and also free 5% match. Also, till this very day he still keeps in contact with his mentor/friend/coach Mr. Sunny “401k Legend” Lester.