Discussion in 'Black People Open Forum' started by Kemetstry, Jul 30, 2010.
What is our focus ofcollective wealth, and what organizations are focused on Black collective economics?
The MMM was suppose to set this agenda. The MWM was suppose to set one. That is one consistant thing our leaders have failed on
The 100 Black Men are doing their part.
And what is their agenda on collective Black economics?
This seems to be for beginners. I have decent savings, good credit, a home. How do I step into investing or entrepanurship?
I recommend maxing out all of your government-insured savings plans(CDs, IRAs, Roths, etc).
If you still have money left over to invest, and you don't want to personally manage the investments yourself, I recommend buying an index fund.
As far as entrepreneurship goes, it depends on what you want to do and if there is a market for that particular product or service. What kind of business do you want to start?
It seems their financial and economic development initiatives are comprehensive having something to offer to the financial novice to those ready to create generational wealth through investing and entrepreneurship.
Furthermore, finacial education is widely available and universally applicable independent of race. A good source of financial education is the "Rich Dad, Poor Dad" series from Robert Kiyosaki. I teach my children concepts from his products that cover the 4 basic techniques for earning money, then ask them which method or combination of methods do they think fits their personality and life goals.
Robert Kiyosaki offers good advice but is vehemently opposed to some of core principles of personal finance(spending less than you earn, saving for retirement, etc).
Don't get me wrong. I love what RK teaches. But when you combine what he teaches with that of Clark Howard or Dave Ramsey, then you're talking about the next level.
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