Dr. Boyce Watkins on why AAs tend to avoid the stock market

[Diyhai]

...ownership isn't for everyone huh

...that's that subtle scare tactic bullshyt to keep people in the community from striving to have more. It just smells funny with how, matter-of-fact, he came across. It was real subtle...

nothing to do with cism
people just need to be aware of there circumstances before they choose ownership
this just doesnt apply to housing
getting in to a mortgage doesn't always build wealth it can be one of the biggest destroyers of it

 

[Sunalmighty]

...ownership isn't for everyone huh

...that's that subtle scare tactic bullshyt to keep people in the community from striving to have more. It just smells funny with how, matter-of-fact, he came across. It was real subtle...

"In the community"??? Go back and do your research on the 2008 real Estate crash. MILLIONS of people lost their homes. Not just black. Everything they said about real estate was on point. Think about it, you are dedicating the next 15-30 years to a payment. There should be caution there. What if the market crashes, i lose all my equity, house burns down, lose my job ..etc. it's no different than any other investment. Know what you are getting yourself into basically. There are folk that still are underwater on their mortgages and areas that have never recovered their value. That was damn near 10 years ago

 

[LEEeveryday]

"In the community"??? Go back and do your research on the 2008 real Estate crash. MILLIONS of people lost their homes. Not just black. Everything they said about real estate was on point. Think about it, you are dedicating the next 15-30 years to a payment. There should be caution there. What if the market crashes, i lose all my equity, house burns down, lose my job ..etc. it's no different than any other investment. Know what you are getting yourself into basically. There are folk that still are underwater on their mortgages and areas that have never recovered their value. That was damn near 10 years ago

If it were easy, every body would do it. I want my people to not shy away from owning. PERIOD.
I feel like that's fear mongering and dissuades my people from doing more with their finances. Something more constructive, something that could leave their family with a nice base for wealth. Something they can inherit.

It's subtle breh.

Maybe we become more financially responsible? Why baby us with this, soft-shoe, c00ning?

I see what you're saying, but it's bigger than that. It's like a justification to do something else with our money, something that white supremacy would rather us do, like spend money to make their businesses richer, by spending money in ventures that help, further, subdue our community.

i just have a wider lens I look thru.

 

[LEEeveryday]

nothing to do with cism
people just need to be aware of there circumstances before they choose ownership
this just doesnt apply to housing
getting in to a mortgage doesn't always build wealth it can be one of the biggest destroyers of it

It's a road white supremacy doesn't want us to take. I'm not in the business of listening to a system that doesn't want us to thrive.

Instead of talking about all the detriments, how about talk about the benefits? Do white people have these concerns? Probably not, because a lot of them have the option of inheriting a home already bought. We need a base to build on.

 

[Reginald Noble]

I didn't watch the video yet but know of this dude.

Don't get hype over it. Financial markets are a beast in and of themselves. Look at what just happened in China.

If you don't know what you doing - DO NOT BET ON STOCKS.

It takes 10,000 hours to become comfortable with something, spend a year analyzing markets and understanding trading options. Don't just dive in even if you have a Fidelity.

If you are only gonna get 2-3% gains YoY it's a waste. Financial literacy is a life long goal for many. Hire a good CPA before you even think of getting into the market. I am working closely with mine on long term goals but am not there yet. I'm trying to get my next bump up career wise before I start rolling the dice. You need more play money to win. $5k a year is the bare minimum to get into the game. If you can't put that much aside (about $450-500 a month) don't bother. Focus on getting your net income up first.

 

[Reginald Noble]

We need a base to build on.

We will never have that base and always be working from a disadvantage. This is why our techniques must differ from our White counterparts. They use under the table tactics even more than we do.

We need to be thinking off the books but in a legit manner. Bartering. But this requires a collective mentality that ultimately we can never achieve in this nation.

The conditions and hundreds of years of brainwashing prevent us from doing so.

 

[Diyhai]

It's a road white supremacy doesn't want us to take. I'm not in the business of listening to a system that doesn't want us to thrive.

Instead of talking about all the detriments, how about talk about the benefits? Do white people have these concerns? Probably not, because a lot of them have the option of inheriting a home already bought. We need a base to build on.

yes white people have these concerns
why are you worried about white people
you should worry about making the best financial decision for you and your family

 

[LEEeveryday]

yes white people have these concerns
why are you worried about white people
you should worry about making the best financial decision for you and your family

....Just try to understand my main point. That's it.

I want more for my people. I'm sick of being placated into servitude. We've been duped to limit ourselves in seeing what is actually possible.

It's not a worry about white people, every time we put our minds to something and break into a white dominated market, we flourish....We're exemplary

Until we can get a more balanced system into place that benefits us inherently..I'm down to bust down these falls they have up..

 

[LEEeveryday]

We will never have that base and always be working from a disadvantage. This is why our techniques must differ from our White counterparts. They use under the table tactics even more than we do.

We need to be thinking off the books but in a legit manner. Bartering. But this requires a collective mentality that ultimately we can never achieve in this nation.

The conditions and hundreds of years of brainwashing prevent us from doing so.

I feel you, on every point.

....but what do we do until then?

I believe a mentality has to be cultivated. A mentality absent of fear and discouragement.

 

[Sunalmighty]

I didn't watch the video yet but know of this dude.

Don't get hype over it. Financial markets are a beast in and of themselves. Look at what just happened in China.

If you don't know what you doing - DO NOT BET ON STOCKS.

It takes 10,000 hours to become comfortable with something, spend a year analyzing markets and understanding trading options. Don't just dive in even if you have a Fidelity.

If you are only gonna get 2-3% gains YoY it's a waste. Financial literacy is a life long goal for many. Hire a good CPA before you even think of getting into the market. I am working closely with mine on long term goals but am not there yet. I'm trying to get my next bump up career wise before I start rolling the dice. You need more play money to win. $5k a year is the bare minimum to get into the game. If you can't put that much aside (about $450-500 a month) don't bother. Focus on getting your net income up first.

Horrible advice. Start with whatever you can afford to start with, even if it is 50 bucks per month. Get comfy with investing small before investing 500 per month. MOST Americans cannot afford that and everyone's financial obligations are different. What someone should do is start with a set amount, and year after year increase their deductions gradually. Adjust your living expenses accordingly. Everyone should invest, before you know it you will wake up at the age of 60 with nothing because you thought starting small wasn't going to cut it. A Roth account is the best start. You get 15 months (January-april) to max out the 5500. I would start with the minimum match 401k if your job has one and the rest into a roth.

 

[Field Marshall Bradley]

$5k a year is the bare minimum to get into the game. If you can't put that much aside (about $450-500 a month) don't bother. Focus on getting your net income up first.

Best advise given thus far

 

[Field Marshall Bradley]

Horrible advice. Start with whatever you can afford to start with, even if it is 50 bucks per month.

If all you can save is 50 dollars a month to invest, you would do yourself a better service by putting it in a savings account for the time being....

 

[Reginald Noble]

Horrible advice. Start with whatever you can afford to start with, even if it is 50 bucks per month. Get comfy with investing small before investing 500 per month. MOST Americans cannot afford that and everyone's financial obligations are different. What someone should do is start with a set amount, and year after year increase their deductions gradually. Adjust your living expenses accordingly. Everyone should invest, before you know it you will wake up at the age of 60 with nothing because you thought starting small wasn't going to cut it. A Roth account is the best start. You get 15 months (January-april) to max out the 5500. I would start with the minimum match 401k if your job has one and the rest into a roth.

Set aside that little 50 bucks a month do you realize that shyt is 600 measly dollars a year?

So the nikka let's say he can only spare 50 bucks a month for FOUR YEARS.

What you got negro? You got $2,400 mah nikka. Even in Georgia maybe that pays your rent for 3-4 months. In NYC it's one month dude, two max.

I know you can't be a market whiz because you take $2,500 to the average trader he'll laugh in your face. Maybe eTrade will take you and you'll blow out 20% of your money on fees alone. Stop the madness dude. Most minimums to get a decent plan start at 10k-25k.

Put that $50 a month in a piggy bank for when your car breaks down. Like I said, saving doesn't do jack shyt when you're bringing in anything less than 65k a year in a 2nd tier metro (Philly, Joilet, Canton, Minneapolis, Detroit, etc.) and 85k in a 1st tier metro (NYC,LA, DMV, Seattle, SF, etc.)

 

[R.B.J1]

Stocks are not for the broke. It's like a video game for the super rich.

If you're waiting on 10-15 years you are gambling on something you cannot control which is time/mortality.

I'd much rather invest my money in inventory and flip it now at a much higher rate in my ecommerce stores. But that's just me.

ecommerce stores? tell me more.

 

[Sunalmighty]

Set aside that little 50 bucks a month do you realize that shyt is 600 measly dollars a year?

So the nikka let's say he can only spare 50 bucks a month for FOUR YEARS.

What you got negro? You got $2,400 mah nikka. Even in Georgia maybe that pays your rent for 3-4 months. In NYC it's one month dude, two max.

I know you can't be a market whiz because you take $2,500 to the average trader he'll laugh in your face. Maybe eTrade will take you and you'll blow out 20% of your money on fees alone. Stop the madness dude. Most minimums to get a decent plan start at 10k-25k.

Put that $50 a month in a piggy bank for when your car breaks down. Like I said, saving doesn't do jack shyt when you're bringing in anything less than 65k a year in a 2nd tier metro (Philly, Joilet, Canton, Minneapolis, Detroit, etc.) and 85k in a 1st tier metro (NYC,LA, DMV, Seattle, SF, etc.)

You're 100% wrong. Fidelity has mutual funds that you can start off at 50.00 every month or bi-weekly. There is a 2500k minimum buy in upfront but they allow you to start at a minimum investment (it's called the Automatic Investment Plan). What's wrong with that? You can even start an account with Wealthfront. For 500.00 You don't need 10k to start investing, most folks don't have that kind of bread. What you are saying makes sense, but MOST folk can't afford that. Also if you are taking your money to a TRADER instead of opening a brokerage account and learning to invest yourself (you mentioned eTrade FEES but TRADERS/BROKERS charge fees out the ass) you are a fukking idiot. Makes zero sense when through Fidelity you can buy and sell stock for 7.95 all day long. It doesn't take a whiz to know that. There are various investment vehicles that you can get into where you don't have to have a shyt load of bread. I'm saying that because everyone's income is different. Everyone has to have options to invest.