Black Millennials are completely behind when it comes to Wealth
Black Millennials are completely behind when it comes to Wealth
Black Millennials are completely behind when it comes to Wealth is an excerpt from a recent YouTube Live stream with Wairish. We discussed the lack of wealth and inheritance within the black families in the west and how this singular practice is keep us down as a group of people.
Full Video:…
source
Reviews
0 %
Africa is our home invest in Africa for the future of your kids , stop running and depending on the west for value and recognition stop being cheap go back home and build and you will see
Bitcoin doesn’t care what race you are, what age you are, or your credit score.
College grads earn an average of $1,000,000 more than non-grads over a lifetime. Black folks NEED a college diploma
It's unfair to compare, when Blacks have basically only been "free" in America since 1970. With that said, she is correct about advance degrees. I only have undergraduate degree, many of my high school classmates have MBAs and I out earn them because I was getting work experience while they were studying!
I remember filling out financial aid documents. My EFC was 6500. My parents contributed 0
Balderdash.
I feel you on the student loans. We are just catching on to the education game.
The loans are another way to keep us locked out of advancing. The education game changed when blacks began to be educated. The financial cost for education changed when we began to be educated. They pushed education as a way to advance and it worked for whites because they looked out for each other and opened doors for each other. As we began to do the same, they began to shut us out. They strategized how to shut us out and the glad ceiling, financial cost skyrocketed, and doors closed to hiring, so this hope for us for redlined also. Skilled work is the best route for us. Coding, technology, ac/heating. Etc. It will bring a great income without the loan burden. I wish I knew that when. I hope this change for my people in the future. Even in the skilled field, they lock us out
Teach your children financial management. There are lots of programs available to teach yourself and kids. Teach delayed gratification. Teach investment. Lots of YouTube info out there
https://youtu.be/4ElFsCRlA-I
My children do not wait until you complete university or grad school to purchase property. Income to debt will be too great to qualify for a mortgage. I used my student loan money to buy distressed properties in the states. By the time I completed my master's I owned, outright 4 properties. While I got my PhD, put my loans in deferment, then mortgaged another piece of property, The young lady is absolutely correct never pay for PhD. You need to know the rules of the game !!
Wairish you are a critical thinker I love it.
This lady is very correct am 22 year old lady own a diploma in business
But currently investing in generational wealth (buying land and building shops)
On my land I opt to go abroad to hustle for money .( Working as a cleaner)
HND can wait
Now am way ahead of my peers still struggling to get HND certificate
Our black Americans focus too much on complaining rather they should take things in their hands and do something. Why should this person go on and no without allowing you also to talk?
Not racism however, our people are working 70hrs plus a week but will not investing $100 plus a month in share of the companies we use their products and personal development
The caller @wairish c made a lot of sense. Unfortunately, we have this attitude of acquiring all these qualifications just for the sake of it….so they can write their names & line it with all these titles 😏. I have started educating my kids on this, there are loads of opportunities and career paths out there that doesn’t involve getting into debt to achieve.
Fact informations
Blame, blame, and more blame. How is this helping us?
African immigrants need to start creating programs for them, by them whilst creating impactful investments back home that will lead to profit.
The country is a mess so we send our kids to school abroad. Do they then return home to continue our business legacy in this mess or they’re better of bettering their lives wherever they want? Also, it seems more difficult to build such continuity of business outside your home-country. Just trying to figure out the way for a continuous business legacy in a stable economy in your home country. Thanks for suggesting.
The Blacks thinks that the West is full of milk and honey, but it’s not the case, because you have to sacrifice by working hard when you’re in your twenties, have savings, party less, focus on your dreams, goals so you don’t get distracted. Always look for opportunities and do a lot of research and stop carrying other people’s burdens. It will take time, but eventually you will get to your promise land.
The system was created to keep information about creating family wealth legacy secretive.
Yes, the degrees is just a thing of the past if you don’t know anything about financial literacy.
Phrankleen, l missed this. I didn’t get the notifications that you’re on.
Black people must begin to learn to acquire assets and businesses. The stupidity of acquiring big degrees without owing or acquiring cashflowing assets in the black community must stop. We need skills and acquisition of businesses that cashflows. The 2 young Asian men who acquired Asda in UK is a case in point. They started acquiring petrol stations all over UK until they got to a critical mass to acquire Asda for 6.5billion pounds!
This is why we started investing in our children future before they were born. They have education investment accounts, and each have life insurance as a wealth plan.
Also buy life insurance for each member of your family to have access to wealth. It's the cheapest way to increase your networth.
But our people don't want to play this game. They want to just spend it on expensive college education's with no returns, clothes, cars, flashy life, parties, and things to be seen.
Anyways… We are playing the game in the capitalist world backward.
My aunt and her husband bought a house in America fully paid for …..in future it will appreciate to more than 300,000$ , the son will inherit or pass it to their grand child or they can he can sell the use the rest to send their grand child and get a new place if they don’t want to live at that place , my uncle is dead my aunt is the one left and she is around 70 something plus they own a property in Nigeria, they paid their children University fee and car loan completely and they moved to America 25 years ago ..
I call that planning , she doesn’t have a single loan , credit card is 700 ..
I have two Aunty like that and they keep educating me since I moved to America
Their advice was :
Avoid accumulating credit loan , pay off immediately
Build ur credit score for house and car purchase
Buy want u need and avoid unnecessary purchase
Utilize coupons and discounts whenever their is one , invest home or aboard
It starts with earning a decent income from having professional role or successful business and investing it well. Also not wearing or spending to show off to people you don’t know or care about. Financial knowledge is very important.
OMG i love this conversation . People need to wake up, i am not knocking education but ownership is the key especially for black people.
Most Black folks have wealth, the problem is most black folks spend outside of the race and they sit on the money (money in the banks doing nothing). They don't invest in each other why?? most don't know what to do with it, a scarcity mindset or selfishness towards their own children. when growing up you used to hear your parents referring to words " MINE" "YOU OWN NOTHING AROUND HERE" "GO AND GET YOURS" but at the same time refuse to teach their children about money, banking, investment etc.
Exactly Africans will flex with having advanced degrees but my dear you went into 100k plus interest debt for a job that will pay half. Somebody please make it make sense to me? We need to prioritize financial education and building assets
Not this Millienial I invest into index funds, cryptocurrencies, ect. Too many people are scared of the stock market because they aren’t correctly informed
The problem is the keeping up with the Jones system many Africans have. It's like everything is a competition. My Aunts go to people parties and change their Asoebi 3 times during a party. The money they spent could have been saved .
Ain’t it crazy that all we have to do to achieve these great things is come together as a unit and start building our community. I don’t understand why we can’t simply do it. Individualism is one of our major problems. We always want to stunt and show off even in a country where the owner of the land couldn’t careless what his or her next door neighbour wears or drive. It’s so damn stupid a black person driving a damn Toyota would think he is miles better than a Japanese walking down the street.
Black people are playing catch up. However we as blacks have to work hard as a team to bring each other up. There is power in unity.
this is super deadly, something needs to be done here, more Africans need to have the opportunities to lead them acquire more wealth
this is super deadly, something needs to be done here, more Africans need to have the opportunities to lead them acquire more wealth
Hello