Welcome back to Travel Friday’s. We took a long break but we are back with a new episode. This episode we discuss some of the best destinations to visit for Memorial Day Weekend. Watch the full episode posted below.
It won’t be long before November is upon us, and some black voters, most importantly, want some answers. Especially with midterms being so crucial to how the next two years will play out.
We previously covered some of the president’s promises to black voters back in 2020. His main two promises were tied to voting rights and police form. Neither promise was fulfilled; however, other legislation was done specifically for different races and ethnicities.
So fast forward to now, and we still don’t have much progress. Things are looking dire, and I don’t know if they will get any better. The focus right now is on the Ukraine and Russia war. The administration is sending billions in military aid to help Ukraine with its fight. The two main promises heavily promoted on the campaign trail (and website) are no longer brought up.
This has resulted in many black voters being upset and angry due to nothing getting done. They have a right to be because of how black voters came out and voted for Biden. The administration plans to make another announcement in August related to student loan payments. Which will be used to appeal black voters.
This strategy is going to be used to get voters back on his side right before the midterms in November. But that support is not looking good due to no specific legislation being passed for black voters only.
Black voters worked hard and did a lot with their efforts in organizing and educating voters for the last presidential election. Now we are two years in, and black voters have watched things get done for other specific groups of people while we have nothing to compare, which is disheartening because black voters always support the Democratic party.
The patience is running out for some, and some are exhausted with the same results every election.
Some may say that “it’s only been two years” or “give him some time.” But in the wise words of James Baldwin, “You always told me it takes time. It’s taken my father’s time, my mother’s time, my uncle’s time, my brothers’ and my sisters’ time. My nieces and nephews’ time. How much time do you want for your progress?”
The topic of building generational wealth always catches the ears of people looking to leave a legacy behind for future generations. It is a popular discussion whenever you talk about financial literacy and financial stability.
It is a selling point when you hear instructors, investors, or financial advisors talk about planning your financial goals for the future. But what does that look like, and is it feasible in today’s market and work environment?
According to data from black demographics, we (black people) are still behind when looking at the median family income compared to white families. So what are some things black families can do to start to build that wealth.
The first thing that is the most important that everyone should do is to get a plan together to solidify what is the target number that they need to reach or would like to reach when it comes to setting that foundation.
Many black people work at a specific job, and some can contribute to their 401K. So planning for your retirement and making the right investments will help build the foundation of the things to leave behind.
Another thing that can be very beneficial is leaving something tangible behind, whether that is land, property, or a profitable business, which can be viewed as an asset and has value when the kids and grandkids take over.
Another way is strategically looking at investing and figuring out what works for you. The word “investing” is thrown around a lot and can mean many things, but we are referring to putting some disposable income in the stock market and cryptocurrency.
These are two markets heavily used by those looking to grow their money. The stock market and mutual funds have posted positive returns over the decades.
Then Crypto is the new digital currency that has taken the investing world by storm and has not looked back. It is a currency that seems to have staying power.
There is no one way to build wealth for your future generations. However, the key is to start planning and organizing a goal that works best for you and your family.
Here are some great podcasts that you can listen to that will help with ideas. But also remember to do your research no matter who you get your information from, whether it’s going to a library or online research.
Earn Your Leisure and Anthony O’Neal are two podcasts that you can start listening to and get some good guidance on financial literacy and financial goals.