Black People : The Black Economic Wealth Gap

Kemetstry

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Feb 19, 2001
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The 100 Black Men are doing their part.




This seems to be for beginners. I have decent savings, good credit, a home. How do I step into investing or entrepanurship?
(sp)















:em0200:


 

Knowledge Seed

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Feb 22, 2008
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This seems to be for beginners. I have decent savings, good credit, a home. How do I step into investing or entrepanurship?
(sp)














:em0200:



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?
 

Full Speed

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Sep 7, 2009
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This seems to be for beginners. I have decent savings, good credit, a home. How do I step into investing or entrepanurship?
(sp)
:em0200:



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.

Cashflow_Quadrant.jpg
 

Knowledge Seed

Well-Known Member
REGISTERED MEMBER
Feb 22, 2008
2,740
549
Atlanta, GA
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.

Cashflow_Quadrant.jpg
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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