How Black Middle-Class Kids Become Poor Adults

[LadySimone]

This "start a business" catch-all for success I see all the time here is irksome.

Multiple revenue streams is a must but "starting own business" as main source of income isn't for anybody. Working for the man isn't ideal but the whole package of a decent/good "job" can be worth a lot . Even just 80k + benefits (health care, life insurance, pension etc.) can help you achieve a lot. Once you got those multiple revenue streams popping (landlord, freelance work in your field, a hobby that can pay) that starts to look very healthy.
I know too many sole-traders hustling all day and night for decades being unable to acquire liquid assets long enough to make moves.

When it comes to businesses blacks don't need to reinvent the wheel. Black folks consume sooo much. We have a lot of money to circulate among ourselves. Even if one black family has horrible spending habits if they buy black, they are just making another black family rich by buying their crap.

I think its always been a myth that people cant afford health care. if you can afford your phone bill you can afford health care. blacks also need to stay healthy. Safe sex, exercise, and better nutrition. Most of our diseases are lifestyle diseases. Obesity being totally preventable and hella expensive.

 

[The Coochie Assassin]

There are many factors from the past that have resulted in whites having more wealth. But of course we can't change history, we can only focus on the present.

We are still playing catch-up. Most of our parents/grandparents give the youth outdated career advice that worked (to an extent) in the 70s/80s/90s. But its 2015 now, the game has changed and cacs in the know, know that . Yes your 50 year old father wants the best for you, but he has no idea how the economy is gonna look like in the year 2030, but these capitalists/multi millionaires do (or at least try to predict and move the country toward that vision) and the best way to stay up to date is to look at what they got their kids learning and doing

I listen to mad business podcasts and theres a Jewish cat named James Altucher, self made multi millionaire with a college education (although he got kicked outta grad school) yet he doesn't want his daughters to go to school unless they want to be something like a doctor or lawyer where u HAVE to pay to learn it. It's hilarious to me hearing all these cacs saying its strange when your brightest students are all in the same schools, learning the same subjects. That doesn't seem productive for the future, having your best learning and doing the same thing. Ignorant cacs fall into this trap (and get mad when their cacness doesn't make them rich), so don't follow Jake who works with u.

This is how I feel blacks are fuccin up, we tell all of our brightest students to do the same damn thing. Go to college, study a STEM field, work for these companies. Join these frat/soror clubs. That's not how we gonna get ahead in today's world. Being hood rich in black America is not winning. We gotta diversify our talent pool even more, some of these black students should hold off on going to Harvard or wherever the black quotas need to be filled and instead work on a start-up in a niche that interests them at age 18/19. That could be film, science, computers, sports, etc. This is when pooling together our money for funding black start-ups come in. Creativity will reign supreme for the next generation. The most creative will be the big money makers and I feel blacks have the most potential, lets get it

 

[Richard Wright]

It's obvious to me. Black people have no networks, no old boys club, no nothing.

We step out at 18 into enemy territory occupied by people who hate us and want to see us fail.

You could call it regression to the mean but it's more than that. somebody out there has put a lot of effort into making sure we stay exactly where we are..

Its called networking. Its not like they dont let black people do it, its just it is very unlikely our parents taught us that its just as important as working hard, and a generation ago it was very difficult for us to network, our gathering in groups used to be outlawed.

I know too many successful blacks to blame my failures on a good old boys club. Move to the DMV then.

 

[↓R↑LYB]

This "start a business" catch-all for success I see all the time here is irksome.

Multiple revenue streams is a must but "starting own business" as main source of income isn't for anybody. Working for the man isn't ideal but the whole package of a decent/good "job" can be worth a lot . Even just 80k + benefits (health care, life insurance, pension etc.) can help you achieve a lot. Once you got those multiple revenue streams popping (landlord, freelance work in your field, a hobby that can pay) that starts to look very healthy.
I know too many sole-traders hustling all day and night for decades being unable to acquire liquid assets long enough to make moves.

Just my opinion. but when I speak on black people starting businesses it's for multiple reasons. Mainly it's because the reason our unemployment/poverty levels are so high is precisely because we don't own our own businesses and depend on whites to hire us. If we had our own businesses, we'd be able to easily provide employment for ourselves and wouldn't have to deal with discrimination in employment. As someone who does freelance, you'll still face discrimination because again, you're more than likely gonna have to be hired by a white person.

 

[CHILLL]

be black brehs ....smh

 

[egobiggs]

Yup, its why I'm not having kids

 

[The Coochie Assassin]

Just my opinion. but when I speak on black people starting businesses it's for multiple reasons. Mainly it's because the reason our unemployment/poverty levels are so high is precisely because we don't own our own businesses and depend on whites to hire us. If we had our own businesses, we'd be able to easily provide employment for ourselves and wouldn't have to deal with discrimination in employment. As someone who does freelance, you'll still face discrimination because again, you're more than likely gonna have to be hired by a white person.

its really that simple...everyone isn't gonna be a business owner...but the ones that are capable should so they can hire their own

 

[RiffRaff]

Most of these families don't encourage their kids to have their own business. It's always be the best employee as you can...

Yep, love my parents to death, but my mom especially has always had this mentality that livelihood revolves around working for another person. I've tried to tell her that following this social norm is not necessary or beneficial to us as a people, but it kinda goes in one ear and out the other. Lucky for me, my dad's sister married a Ghanian man who actually has his own profitable and respectable company, and so from my Uncle I've gotten to see first hand just how fruitful maintaining our own businesses can be.

 

[↓R↑LYB]

its really that simple...everyone isn't gonna be a business owner...but the ones that are capable should so they can hire their own

Exactly. But honestly we're so far behind the 8-ball when it comes to entrepreneurship that we need as many black people to start businesses as possible.

 

[↓R↑LYB]

Yep, love my parents to death, but my mom especially has always had this mentality that livelihood revolves around working for another person. I've tried to tell her that following this social norm is not necessary or beneficial to us as a people, but it kinda goes in one ear and out the other. Lucky for me, my dad's sister married a Ghanian man who actually has his own profitable and respectable company, and so from my Uncle I've gotten to see first hand just how fruitful maintaining our own businesses can be.

What does her husband do?

 

[RiffRaff]

Delete

 

[↓R↑LYB]

You had any convo's with him about his business ?

Always wondered how much money it would take to start something like that.

 

[Danny Up]

Black people need to learn more trades. shyt people in general. But unfortunately everybody wants a cushy sitdown job, with minimal "work" required. Parents even urn kids away fom those jobs as they want them to have a "better life" than they did. But realistically if a kid graduated t 18, Was allowed to stay at home got a trade or a "job". He could stack at least 40 Grand by age 22 if he/she was wise with money. He could then begin living his real life. He'd already be ahead of his peers and completely debt free. No he would have the "college experience" or the "degrees" and such but he'd be on a good path.

 

[YouMadd?]

I actually think the problem lies in the fact that we have raised a lot of entitled suburban negroes. You see it more in the new generation but as we become more upwardly mobile, we begin producing children like white folks do. Produced a bunch of entitled brats who expect everything handed to them. Only we as black folks do not have the luxury to behave this way. Have to stay hungry, or else you will get lost.

This is why some of our hardest working, highest achievers started out without a pot to piss in. They get it.

 

[YouMadd?]

There are many factors from the past that have resulted in whites having more wealth. But of course we can't change history, we can only focus on the present.

We are still playing catch-up. Most of our parents/grandparents give the youth outdated career advice that worked (to an extent) in the 70s/80s/90s. But its 2015 now, the game has changed and cacs in the know, know that . Yes your 50 year old father wants the best for you, but he has no idea how the economy is gonna look like in the year 2030, but these capitalists/multi millionaires do (or at least try to predict and move the country toward that vision) and the best way to stay up to date is to look at what they got their kids learning and doing

I listen to mad business podcasts and theres a Jewish cat named James Altucher, self made multi millionaire with a college education (although he got kicked outta grad school) yet he doesn't want his daughters to go to school unless they want to be something like a doctor or lawyer where u HAVE to pay to learn it. It's hilarious to me hearing all these cacs saying its strange when your brightest students are all in the same schools, learning the same subjects. That doesn't seem productive for the future, having your best learning and doing the same thing. Ignorant cacs fall into this trap (and get mad when their cacness doesn't make them rich), so don't follow Jake who works with u.

This is how I feel blacks are fuccin up, we tell all of our brightest students to do the same damn thing. Go to college, study a STEM field, work for these companies. Join these frat/soror clubs. That's not how we gonna get ahead in today's world. Being hood rich in black America is not winning. We gotta diversify our talent pool even more, some of these black students should hold off on going to Harvard or wherever the black quotas need to be filled and instead work on a start-up in a niche that interests them at age 18/19. That could be film, science, computers, sports, etc. This is when pooling together our money for funding black start-ups come in. Creativity will reign supreme for the next generation. The most creative will be the big money makers and I feel blacks have the most potential, lets get it

yeah I just read this article in fast company about being black in Silicon Valley and they had this round table interview with like 14 black folks working in tech. All of them spread thin amongst these companies. Im sitting here like "take your talents and voltron!"