Dr. Boyce Watkins on Why African Americans Avoid Stock Market

[Drones]

I really hope Boyce doesn't make these Vlad interviews a thing. He just being used by him

Yep, Vlad's whole business model is to get mostly black people to do free interviews which he gets paid from.

 

[nubianqueenbee]

It's not complicated.

Most black people don't know very much about stocks (or finance in general) and thus don't have that knowledge to pass down to their kids. White people are more likely to have parents/family members in the finance history, or at least come from a household where their parents are more financially literate.

I've often considered getting into mutual funds/stocks/etc myself but I don't know where to start and am kind of averse to risk, so I just squirrel my money away in a savings account.

I think there is a lot of information out on the internet, we just need to get out there and start searching. A lot of our parents couldn't teach us because they did not know. But in their day it they could get by with just scrolling and saving because the cost of living was lower. Now the interest rates are so low there is no incentive for most people to use a savings account as an investment option.

I think a good option to start for investing, for most people, if the have the option, is through their employer. If you can get into an Employer Stock Purchase Plan, or ESPP, I highly recommend it. You take a percentage or set dollar amount out of each paycheck and the funds are used to purchase company stock, usually twice a year. The purchase price is usually at the lowest price the stock was trading at during the period, so as the stock price increases the value of your stock goes up. The great part is if you need some cash, just sell some of your stock. You pay tax on your gains in the stock price. If you want, you can sell the company stock and buy stock in another company.

Same thing with a 401k plan. Many companies with match your employee deduction up to a certain percentage. You should definitely take advantage of this because it doubles the amount you save. You have OPTIONS as to how you can allocate your funds.

Sorry for the long post. The main point is to start as soon as possible and don't stop. I opted out of both of these for a couple of years at work thinking I needed the extra money. I could kick myself a thousand times for doing that.

 

[Suicide King]

It's not complicated.

Most black people don't know very much about stocks (or finance in general) and thus don't have that knowledge to pass down to their kids. White people are more likely to have parents/family members in the finance history, or at least come from a household where their parents are more financially literate.

I've often considered getting into mutual funds/stocks/etc myself but I don't know where to start and am kind of averse to risk, so I just squirrel my money away in a savings account.

Southside VA posted a complete guide to stocks and bonds. I re-posted it a couple times.

It gets very detailed and covers the fundamentals without the message getting lost in the author's philosophy or investment strategy.


Investing ---
Comprehensive guide to stocks posted By Southside VA.pdf (358.22KB)
https://www.sendspace.com/file/4dw4lr

Comprehensive guide to funds posted By Southside VA.pdf (245.28KB)
https://www.sendspace.com/file/jhit8y