3 Reasons Black People Are Broke!

1. Lack of Confidence

According to Federal Safety Net (2017), “there are 9.2 Million African Americans in Poverty (22.0%)”. Now with those statistics imagine behind in the shoes of someone who lived in these environments. There’s pawn shops, liquor stores, failing black businesses, theft, robberies, murders, broken homes, and etc. Of course growing up in these conditions would give any African American in America lack of confidence. We don’t see many make it out alive and if we do they are either playing sports, rapping, or acting. On television we don’t see many black Financial Advisors teaching the youth or working for Fortune 500 coming back to preach on how to become successful. We have to establish a better lack of confidence. We all have to pick up our confidence and start being supportive of each other. I know there are many mental issues that come with staying in impoverished communities but we have to start being more positive even though we face many adversities than any other race in America.

2. Spend the Money before it Comes

This is a sad, but very true statement. African Americans that live in improvised communities already lack financial literacy. We don’t know how to manage thousands, if not hundreds of dollars at a single time. What I’ve witnessed growing up in the inner city is that a big check means splurge as fast as you can, before it’s collected quickly by the bill collector and piled up debt. Growing up, I even struggled with this because before I even knew the big check was coming I made a list or already had a spend all the money plan in motion before it even came, so on the day of I hit the stores ferociously and had no appreciated assets, only items that impressed everyone around me who couldn’t afford it, because they also shared a place with me in poverty.

3. Low Self – Esteem Issues

Coming from poverty many African Americans face self-esteem issues. We undergo stress due to our constricted environment. We are surrounded by “what ifs” & “I wish I did this”. Meaning many people who had the chance ruined it by not sticking to their plan. They let others opinions get to them, which robbed them of their dreams and even took it to the graveyard way before their known death. African – Americans that have been through poverty have been let down many times and we are the main race that bring others down, which has to change, but with a strong work-ethic and mind you too can overcome the obstacles you are in and take bigger risk to reap big rewards.


“Think about it with me”!? They don’t put the real Millionaires on TV, they only advertise the Flashy ones. The ones who buy 3,000$ suits, but the average millionaire only spends 47$ on a suit from JC Penny. They don’t show you the ones who spend 3 nights in a row at the kitchen table writing a budget, they show you the ones who just spend 100,000 on Shoes out of Lennox.

You have to understand how America programs your minds too consumerism, which is instant gratification. See if they showed you these Real Millionaires who may even stay next door too you, you will be confused and TV will lose ratings and stores would lose value. They don’t show you the ones who are trying to build a legacy, they show you the ones who have it temporarily.

Broke, But Young

I know, I know! You are completely tired of running out of money before the end of the month or the next pay period. You are anxious to take a different route of advancement but feel stuck because you have too many priorities and feel as if you are stuck. The 9 to 5 isn’t working, you are spending more than you make, and when you ask for help you have nobody even though you give too anybody. I know! That’s why it is time for a change.

Today is January 5, 2018 (Friday), which is another day you have to make fast decisions with your life and which direction you want to go. Another day to get up and stop listening to others who have no right to tell you what your next step should be. Take affirmative action and take the lead. Take the lead on your income, spending habits, investments, and job of preference. Listen to me, you may be broke, but you are young! You have plenty Years of risk, so snap out of your sh*t and make sh*t happen. There is no time to feel sad and depressed. Conquer that demon and get ahead of yourself. You owe it to yourself to be bigger than you are at this very exact moment!

Additional Steps to take in order to be a Winner:

1. Write down your goals

2. Leave out bullsh*t

3. Step up to the new challenges

4. Get out of your Comfort Zone

Speculation is a Sin

What ever you do in the investing world, make sure you do not speculate. If so, take only about 3 to 5 percent of your annual income and have a speculation account or what Benjamin Graham may call it a Mad Money Account. No matter the situation never cross or mingle the two.

The reason(s) I highly say don’t speculate because you are gambling your riches away. Don’t let us forget that Stock Market is already volatile and it’s important to know which investments are sound based on your judgement. Always invest in what you know and not in what CNN or every other Broker tells you.

If you are Dollar Cost Averaging, which is putting a certain amount away in the Stock Market every week, bi-weekly, or monthly no matter how the market is playing out, don’t speculate. If you must speculate, only involve what you are able to and nothing more.

Remember these keys 🔑 when it comes to investing that was written by Benjamin Graham himself:

– Speculating becomes mortally dangerous the moment you begin to take it seriously.

– You must put strict limits on what you are willing to wager.

That Side Line Paper’

If you start all your dollar bills, you will never have any on the bench. In order to grow your wealth you need what I call that Side Line Paper. It’s beneficial to have some paper stacked up on the side. Without that cushion you will always be in need and stressing over the fact your Paper low. Without that extra cushion which is labeled “Stash Money”, you will do anything for it like give away all of your time.

We only have one life in us. Don’t waste your time chasing money. You should do what you love and be proud of what you are doing. By having savings and sacrificing to put up, you are actually helping the future you escape the mentality of working for money. Learning how to make your money work for you through bonds, stocks, businesses, and savings is the key to Financial Greatness. That Side Line Paper is key to prospering and living a life you always imagined.

1 Stock at a Time

Many times while I read those who invest frequently they forget the hardships of the lower class. The struggle we are going through as a whole. They forget that most of us have to many priorities to just leave our hard earned cash in the Stock Market. We have kids, bills, minimum wage jobs, and too much BS to even lend a penny over. That’s why I am writing this article on 1 Stock at a Time.

True enough most of us struggle harder than the next, but it’s vital we still put our money to work. We have to find those cracks through our financial hardships to invest in the Stock Market, if you don’t invest or own a business your financial future will not look so bright. Though may still live comfortably, you will always give your time for little to nothing dollar signs.

Learn how to change your mental process when it comes to invest. Every time you get paid buy 1 Stock from a Company you believe will be around for 20 plus years. If you do this continuously and diverse your wealth you will have ownership and appreciation from the works of the Stock Market. That will not only help your finacial future but open many other doors/venues when it comes to investing and companies and building your net-work.

Money won’t Save You, You Will.

Money will never save you, you are the only person that can. Anybody on this planet could make a decent amount of money. No matter if it is 15,000 to 80,000 and up a year. It’s very imperative you know how to control the flow of you hard earned dollars.

Through managing your finances and staying true to frugal lifestyle you could potentially make your money work hard for you and change your living circumstances. This does require hard work and a strong mind frame to accomplish.

Don’t let you be the reason you aren’t up financially in the next 3, 5, 10, and even 30 years from now. Break the generational trait of being broke. It’s time to require the knowledge it takes to have infinite wealth. Learn the Stock Market today! Don’t be hesitate to ask me any question.

Stay blessed and stack it up.

Little things Matter

If you invest 15 dollars of your money monthly in a common stock and based the yearly yield at 7%, including dividends you receive but reinvested in your stocks you could have 85,000 in 20 years rather than just 3,600 in a traditional bank account.

No, you don’t need to be “Warren Buffet” or “Bill Gates” to make it big. You only common sense and less emotions when it comes to investing in the Stock Market. No need to watch the Market daily and wonder when your Stock will go up or why isn’t it going up. You only need patience, time, and a little amount of your money working for you. Learn how to invest and have less stress. It’s never too late until you are old and gray. Then, you have nothing put up for retirement or vacations!

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.

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.