Peace family! I hope summer 19 has been good to you thus far, I had a slow June but July has been boomin boomin! I wanted to share a recent experience with you that needs to be discussed. So this entry won't have any pics like the previous entries, but hopefully it will spark a change within you.
Earlier this week I met with a financial adviser to discuss my financial future and come up with an investment plan, I had a plan in place but to go to the next level I knew I needed some guidance of a professional. This is something majority of the black community doesn't participate in for some reason, which is why I'm blogging about it. There could be a number of reasons why my fellow black people don't have a money plan in place, so I'm not going to assume or generalize. I just knew I didn't want to be like the majority, and I also wanted to be an example my community can look to if they want to make a change.
Here's the investment plan I put in place with the financial adviser, I'm starting with $100 a month with $50 of it going into the Roth IRA I just opened up, $22 going to my life insurance, & $25 into a raining day fund. Simple right? Also inexpensive too, I waste $100 a month eating out so this will help me cut back. Look at your bank statement and calculate those misc charges and eating out charges. You could take that money and invest it in a high yielding account, you don't need much to start. With my mutual fund I started with $50 a month, then I switched it to $50 quarterly. Now I'm going to switch it back to monthly so I have $50 going into my Roth and $50 going into my mutual fund.
I hope this post inspires you to change your outlook on your finances, I hope you begin to plan for your future so you won't have to keep working while you're 60 or 70 years old. Change starts with us individually, and we as black people have to change our relationship with money. I encourage you to sit down with a financial adviser, take control of your life and your future. Change starts now. Love.