[VIDEO] Why black people fail to build generational wealth.

ORDER_66

ORDER_66

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have living wills and life insurance policies that go directly to your next of kin...:francis: Also it helps that you educate your kids about finances on some next level shyt when they're young so that they wont blow it all... alot of black folks leaving their kids with nothing but debt... yes i saw the video this morning :francis:
 
UncleTomFord15

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Have a high paying job/develop a high paying business

Invest a portion of that money into index funds or individual stocks if you're more risk adverse

Pickup rental properties. You get tax write offs, appreciation plus rental income. Can even use a 1031 exchange to avoid capital gains tax.

Pick up life insurance. If your under 40 and in good health can literally get a million dollar policy for like 25 dollars a month.

Stop falling for get rich quick schemes

Never stop educating yourself on investments and money making opportunities.

Been doing all these for years (currently still in pursuit of the rental and finalizing the insurance end of the year actually), should be a millionaire within the next decade :manny: . nikkas need to stop sitting around crying and making excuses all day. All the information needed is right at our fingertips in 2023.
 
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Dave24

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UncleTomFord15 said:
Have a high paying job/develop a high paying business

Invest a portion of that money into index funds or individual stocks if you're more risk adverse

Pickup rental properties. You get tax write offs, appreciation plus rental income. Can even use a 1031 exchange to avoid capital gains tax.

Pick up life insurance. If your under 40 and in good health can literally get a million dollar policy for like 25 dollars a month.

Stop falling for get rich quick schemes

Never stop educating yourself on investments and money making opportunities.

Been doing all these for years, should be a millionaire within the next decade :manny: . nikkas need to stop sitting around crying and making excuses all day. All the information needed is right at our fingertips in 2023.
Click to expand...

@UncleTomFord15 if you are single and have no children should you get life insurance?
 
ThrobbingHood

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TheGreatMTB said:
people throw the phrase generational wealth around far too much. Throughout history, the overwhelming majority of people did not have it....they lived average lives (by the standards of their society) and got by through the love of family and the little things.

Most white people do not have generational wealth. It takes an extraordinary person (or parent/child handoff) to build it. Hell...a lot of pro athletes blow their money before they can even pass it on.
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5thbornpowerseed said:
Wealth in the US was built from landownership.

If you know US history ie northwest ordinance, headrights act, homestead act, affordable housing act…you know a comparative examination about wealth building between races makes no sense. Our struggle is our own.
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Both of these things were addressed in the video. He addresses it from a microeconomic perspective, not just a macro, which acknowledges racism.

Today, with all the information out there, people have no excuse to leave their children financially destitute.

Wills should be prepared. Life insurance is a must. Trust funds should be started earlier. You don’t have to be rich or wealthy to implement this things.
 
Ghost Utmost

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Went to a white college.

White roommate who was a total stranger before told me this. Dude was from money.

"My Dad has thousands of dollars in a change that he saves in change jars."

I was like. That's brilliant I'ma try that.

Dude looked at me like :comeon:

"You have to start with a lot of cash in the first place to end up with that much change. Just collecting change won't get you there."

SOHH. Just wanting to do something for your kids is not enough. You actually have to be pulling in enough to leave some after. Right?

My grandfather built a house. He left his kids some change but I know for sure that 2/3 of his kids ripped thru that shyt pretty quick.

But the house was the key. I'm back here now with my moms and my unc (my name on the deed and shyt so they like live with me, nahmean. .. bullshyt I say to make myself seem like less of a loser).

It's like being rich. Not having rent. It costs money to run the house but not much straight cash per month. You could maybe get a decent used car ... ten years ago ... for what we pay monthly. Like a Honda with 100K miles on it.

And that my friends allows me to stack like crazy.

My mother's father was the first one in our line to leave something. I AM NOT WEALTHY at all. I'm lower middle class but able to behave as upper middle.

When all of the niqqas in my family alive now are not alive anymore, G-d forbid (the inevitable).. there is prolly gonna be a decent pile for the next generations after us. Or at least for a few immediately under us. Then it's up to them.

But no way to blame the children of slaves for still being broke. You'd like to think they can just "snap out of it".. but it ain't like that. The ones still down bad BEEN down bad for generations.
 
CrimsonTider

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UncleTomFord15 said:
Have a high paying job/develop a high paying business

Invest a portion of that money into index funds or individual stocks if you're more risk adverse

Pickup rental properties. You get tax write offs, appreciation plus rental income. Can even use a 1031 exchange to avoid capital gains tax.

Pick up life insurance. If your under 40 and in good health can literally get a million dollar policy for like 25 dollars a month.

Stop falling for get rich quick schemes

Never stop educating yourself on investments and money making opportunities.

Been doing all these for years (currently still in pursuit of the rental and finalizing the insurance end of the year actually), should be a millionaire within the next decade :manny: . nikkas need to stop sitting around crying and making excuses all day. All the information needed is right at our fingertips in 2023.
Click to expand...
This isn’t generationAl wealth
 
Sonic Boom of the South

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ThrobbingHood said:
Only ignorant fools with nothing intelligent to contribute retort with insults.
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Only c00ns constantly make threads on the coli with negative energy about Black people and that is you thread making history!

fukk yaself
die
Lemme put you on ignore:mjgrin:
 
ThrobbingHood

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Sonic Boom of the South said:
Only c00ns constantly make threads on the coli with negative energy about Black people and that is you thread making history!

fukk yaself
die
Lemme put you on ignore:mjgrin:
Click to expand...
A smart man will watch this video and take it as educational.

Only a moron would call it negative energy.
 
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