Black folks and INVESTING

[ice-c]

Something rather disturbing transpired out of my make money thread....

MOST folks assumed that it involved THEM making an investment and were IMMEDIATELY IMMEDIATELY turned off to the idea...

turned off to the IDEA that they haven't even heard.

How do we as Black folk understand and realize that most long term wealth comes from INVESTING. Whether it be in ones own business or in the stock market?




*CD, i expect u to chime in :D*

[swtjamaica]

Originally posted by ice-c
Something rather disturbing transpired out of my make money thread....

MOST folks assumed that it involved THEM making an investment and were IMMEDIATELY IMMEDIATELY turned off to the idea...

turned off to the IDEA that they haven't even heard.

How do we as Black folk understand and realize that most long term wealth comes from INVESTING. Whether it be in ones own business or in the stock market?




*CD, i expect u to chime in :D*


...have you considered the idea that the reason some folk were stressing about investing money was because they didn't have any to invest??? don't put words in folks mouth until you KNOW for SURE what the issue is....

[Tastey]

Originally posted by swtjamaica



...have you considered the idea that the reason some folk were stressing about investing money was because they didn't have any to invest??? don't put words in folks mouth until you KNOW for SURE what the issue is....

I agree 100%.

I am well aware of the value of investing, but until I have money to invest that knowledge doesn't mean a whole lot.

[Pamalicious]

the entire post sounded like one of those 1-900-houses commercial, lol

If you really have some viable way to make some money why don't you just lay it all out and not have all that 'secrecy' surrounding it?

We all live in different states there's enough money to go around and not encroach on someone else's pot.

[ice-c]

first of all.

Everybody (mostly) that is now interested (no names) THOUGHT it required money.

No where did I say it did.

But my question is...even if it DID...what if the investment was only $20....what if I was gonna pay your investment? What if all you had to do was SHOW UP....WHAT IF....WHAT IF.....WHAT IF...

The question is: Why do black folk shy away from money investments? IS it always that we don't have the SPARE money to make the MORE money?

[ice-c]

Originally posted by Pamalicious
the entire post sounded like one of those 1-900-houses commercial, lol

If you really have some viable way to make some money why don't you just lay it all out and not have all that 'secrecy' surrounding it?

We all live in different states there's enough money to go around and not encroach on someone else's pot.

Either you are interested or not. Not gonna beg folk to make money. No sir.

[swtjamaica]

Originally posted by ice-c
first of all.

Everybody (mostly) that is now interested (no names) THOUGHT it required money.

No where did I say it did.

But my question is...even if it DID...what if the investment was only $20....what if I was gonna pay your investment? What if all you had to do was SHOW UP....WHAT IF....WHAT IF.....WHAT IF...

The question is: Why do black folk shy away from money investments? IS it always that we don't have the SPARE money to make the MORE money?


...i didn't ask you if money was involved (i don't think), and i'm still debating as to whether or not i want to get involved...my father is more interested than i am, but we don't make quick decisions about things like this, whether we have the money or not....20 bones isn't anything that would be missed, but in reality, depending on who you talk to, YES, most folk DO NOT have the SPARE money to make MORE money...it may be a hard reality for you to grasp, but it's true for A LOT of other people....

[Tastey]

Originally posted by ice-c
first of all.

Everybody (mostly) that is now interested (no names) THOUGHT it required money.

No where did I say it did.

But my question is...even if it DID...what if the investment was only $20....what if I was gonna pay your investment? What if all you had to do was SHOW UP....WHAT IF....WHAT IF.....WHAT IF...

The question is: Why do black folk shy away from money investments? IS it always that we don't have the SPARE money to make the MORE money?

Common sense dude.

My education of long term investments tell me that one of the first principles of business is you gotta spend money to make money.

So of course when you offer an investment, I realized that investment means I invest something. Whether it be time, money or whatever. You are not just gonna mail out checks to people.

Second of all your lists of what ifs are cool, but I treat those like I do the publisher's clearing house sweepstakes.

If you got a million dollars to give me hand it here, but don't make me jump through hoops of filling out forms, reading spam, and ordering magazines to get it.

My life is too busy for that.

If you've found an opportunity that can benefit me or anyone else I appreciate you sharing it.

But to say black people don't know anything about investing because they didn't know you had a long list of what if's is unfair.

Your what if's are out of the ordinary.

I'm a bottomline person...I don't need the song and dance and sell.

[CD]

In general Black folks don't know a thing about money.

Don't know how to get it
Don't know what to do with it once that get a bit.
Don't know how to keep it.


Investing is giving to yourself. In general black folks don't treat themselves well.

It's a mind set. It's values. It's ignorance. It's consistently making bad decisions about finances.

Most can not get by the concept that no credit is 100% better than bad credit.

[mystkev]

Originally posted by ice-c
The question is: Why do black folk shy away from money investments? IS it always that we don't have the SPARE money to make the MORE money? I have a question: why is it that just because the black people on this board may or may not shy away from money investments people take that to mean black folks in general shy away from them?

Some people do not have the spare money to make more money. Or they simply have an aversion to risk.

[CD]

Originally posted by mystkev
I have a question: why is it that just because the black people on this board may or may not shy away from money investments people take that to mean black folks in general shy away from them?

Some people do not have the spare money to make more money. Or they simply have an aversion to risk.

From my exposure and talking to financial professionals black folks in general are weak in this area. It's starts way back to growing up. Black parents don't talk about credit and the purpose of it, and what happens when you mess it up.

As far as not having spare money, who has spare money?

You either make the decision or you don't make the decision to forgo the immediate satisfaction for future satisfaction.

[zuriyahe]

Originally posted by mystkev
I have a question: why is it that just because the black people on this board may or may not shy away from money investments people take that to mean black folks in general shy away from them?

Some people do not have the spare money to make more money. Or they simply have an aversion to risk.

Sorry, Myst, but it is generally true. Blacks are great consumers...but poor investors.

This type of conversation has been going on for a while in the "Da Money" category.

[zuriyahe]

The truth is, that investing IS possible. Too many of us will buy the most expensive shoe...for our kids...several times a yeah...when they can buy less...and put that money to better use. We use check cashing places and rent to own places...when our money can be used in better ways. I invest...but I can do better.

[mystkev]

Originally posted by CD
From my exposure and talking to financial professionals black folks in general are weak in this area. It's starts way back to growing up. Black parents don't talk about credit and the purpose of it, and what happens when you mess it up.

As far as not having spare money, who has spare money?

You either make the decision or you don't make the decision to forgo the immediate satisfaction for future satisfaction. I'm not really sure how me asking about investing, turned into an issue of credit. Not to mention that all black parents aren't the same. I am almost certain (or I at least hope) that you have more black parents teaching their children about money and credit today then in previous years.

The spare money was an answer to a question, and yes there are people that do have spare money, meaning all bills met and money left over. I cannot speak on those that do not, but I am sure there are some people that truly do not have the means to invest or save 10-15% of every paycheck.

But none of this is neither here nor there. All I am saying is that as black people we did not all grow up in the same household or with the same beliefs or with the same money problems and issues. I just wonder when it will be that I think what I think, or do what I do, because of who I am and not the color of my skin.

[zuriyahe]

Originally posted by ice-c


Either you are interested or not. Not gonna beg folk to make money. No sir.

Actually, ice...if you wanna share...then share. No need to beg. In your case, it is the "if ya wanna make money, send me a PM" kinda stuff that sounds really fishy. If you are down with helping your people...then KISS and come out with it. We are big kids...we can take it.

[CD]

Originally posted by mystkev
I'm not really sure how me asking about investing, turned into an issue of credit. Not to mention that all black parents aren't the same. I am almost certain (or I at least hope) that you have more black parents teaching their children about money and credit today then in previous years.

The spare money was an answer to a question, and yes there are people that do have spare money, meaning all bills met and money left over. I cannot speak on those that do not, but I am sure there are some people that truly do not have the means to invest or save 10-15% of every paycheck.

But none of this is neither here nor there. All I am saying is that as black people we did not all grow up in the same household or with the same beliefs or with the same money problems and issues. I just wonder when it will be that I think what I think, or do what I do, because of who I am and not the color of my skin.

I made the credit point to illustrate that the fundermetals of finance are ignored in most black households. Investing is a part of finance.

True all black parents are not the same, but far to many are ignorant when it comes to finance. The trend is changing, but not fast enough.

[sistuhchey]

Originally posted by zuriyahe


If you are down with helping your people...then KISS and come out with it.



I agree!!...

(IMO....I'm learning to start all my post this way....)

we are last on the totem pole...to invest...I agree..I'm also guilty, for those that consider it......they may be hungry for knowledge...so they don't want appear to be stereo-typed..as "IGNORANT" or "JUST CONSUMERS"....however, with many working african americans...that are privvy to the internet..401k's from their jobs...homeowner, different banking options.....Our curosity is fueled...we just need to strike the match........

Admin and a few others have spoke out about their home-owning expierences... paying off credit cards... and what it means to them...their rejoicing, learning and growing...and feeling good about it.........I remember the thread about the...russell simmons debit card....and pre-paid credit cards.....

Yano...Knowledge is power.....some don't respond or listen today.....it doesn't mean we don't hear you....

as black-folk...we tend to be leery....for we're not schooled...or trust issuses surface... ..i still laugh and chuckle...at the fact of my grandmother...and daddy's era...use to dress up just to go to the bank......"IT WAS A BIG DEAL"...that was less than 40 years ago..

I appreciate..CD,Que,Admin...and others...sharing...sometimes it just takes time...or like mentioned...maybe folks just don't have the $$$

[Tastey]

Well speaking as someone who didn't respond until the money and credit aspect was taken out it.

I am not ignorant of investments or credit.

This year alone I have paid off all debts and am beginning to have extra income for the purpose of investing.

I have looked into SEVERAL different ventures for what is best for me and my child.

But all Ice said was "you wanna make some money in real estate".

That's not my chosen area of investment. Nothing against it, just not what I'm currently looking at.

To turn that around to "black folks are ignorant of investing" is CLASSIC ICE and why people didn't respond to him.

He always has an ANGLE, he never is forthcoming with information in a manner that would make me immediately trust him.

He's the used car salesman of the Hush...and THAT'S why I didn't respond.

Yes alot of black folks don't know about investing, or credit, or what's financially best for their lives.

They are living in the projects driving Lincoln Navigators, wearing Prada suits and behind on child support.

I understand ALL THAT.

But to say that is why no one responded to Ice's thread...bull!

[swtjamaica]

...there are MANY black folk who invest me and my family are one of them...HOWEVER, as tastey stated, if you wanna help someone make money, don't come around like lenny on good times with a jacket loaded with stolen watches trying to sell one :D!!! i am interested, but i'm in school, and there is more info that i need before i decide what to do...my father is looking at other info related to this so a sound decision is made...once he's had all of his questions answered, a decision will be made...no one is asking ANYONE on this board to beg anyone else to make money...PERIOD!!!

[CD]

Originally posted by swtjamaica
...there are MANY black folk who invest me and my family are one of them...HOWEVER, as tastey stated, if you wanna help someone make money, don't come around like lenny on good times with a jacket loaded with stolen watches trying to sell one :D!!! i am interested, but i'm in school, and there is more info that i need before i decide what to do...my father is looking at other info related to this so a sound decision is made...once he's had all of his questions answered, a decision will be made...no one is asking ANYONE on this board to beg anyone else to make money...PERIOD!!!

Swtj

You are not adequatly informed as to the state of Black America when it comes to money and finances. We save a lot less than our cultural counterparts. If we save less then our ability to invest is reduced dramatically. .

Although you may want to think your family is representative of all black families, you are mistaken. The majority of black folks don't even own their own home.



The real estate activity mentioned by ICE-C is common knowledge to those who have interest in investing.

[ice-c]

gosh...

there is so much....to say....

i didnt mean to correlate my two questions.

swtj, i was not talkin about u. u asked for information...i gave it to you.

now with subsequent i decided that wasnt the best way to do it because A LOT OF EXPLANATION needs to happen along with the information that i gave u swtj....

myst, i didnt mean to generalize, but my every experience (limited as it is) has been that IN GENERAL black folk are hesitant to invest.

yes, tastey...there is a TIME investment required. Not much time, but time nonetheless. u put this statement in your post where u blasted me:

To turn that around to "black folks are ignorant of investing"

first, i don't recall saying that black folks were ignorant...i am still searching for where i said that...especially since u QUOTED me.
second, i'm not turning anything around into anything.

i mentioned an opportunity.....mentioned real estate. if u were further interested...u contacted me. if u were NOT interested in real estate...u didnt contact me. that was simple.

but it doesnt always take money to make money...sometimes it takes a little bit of time and effort.

swtj, u took this post personally, but i wasnt even talkin about u at all...u were the FIRST to inquire and seek clarification. i can't fault u for that at all.

but again...NO WHERE DID I MENTION investing MONEY...and yet folks are still thinking you have to.

and as far as me coming around like lenny....

i didnt want to post this opportunity on a public board in detail. i wanted to share it privately...and i will. that's my choice. if u think its illegal....then u r sadly mistaken.

i do plan on doing a conference call where all questions can be answered.

[ice-c]

Originally posted by swtjamaica



...have you considered the idea that the reason some folk were stressing about investing money was because they didn't have any to invest??? don't put words in folks mouth until you KNOW for SURE what the issue is....

again...where did i SAY invest MONEY?

[Tastey]

Originally posted by CD
In general Black folks don't know a thing about money.

Don't know how to get it
Don't know what to do with it once that get a bit.
Don't know how to keep it.


Investing is giving to yourself. In general black folks don't treat themselves well.

It's a mind set. It's values. It's ignorance. It's consistently making bad decisions about finances.

Most can not get by the concept that no credit is 100% better than bad credit.

CD is the one who mentioned ignorance. I was neither quoting or blasting you.

But that is the turn this thread is going.

No one expects you to outline the plan in detail on a public message board.

But honestly you didn't not give ANY DETAILS in your initial post and then you assume that folks didn't respond because of the investment involved.

The only thing I am saying is people didn't respond for a variety of reasons. Some of those being too little information, not wanting to invest, not knowing what was up your sleeve.

You ASSUMED that it was disregarded solely because of the money needed to invest and that Ice is unfair.

The bottomline is you didn't say much of anything.

This reminds me of the "collect my poetry" thread a former Hush member did. :rolleyes:

They wanted and expected a certain response and when it wasn't given people were then called to task for it.

That is getting old dude.

People have PM'd you, people have shown interest.

Why is this thread needed in RELATION to your post.

Discussing the issue of black folks and spending vs investing is a valid discussion on it's own.

What does it have to do with YOU???

[ice-c]

Originally posted by ice-c
i didnt mean to correlate my two questions.



this was my FIRST STATEMENT...

i didnt mean for this to happen...but folks were makin statements and questions relative to the other thread.

and

i didnt make an assumption. I got some pms where folks mentioned MONEY as a part of makin the investment.


I don't mind folks not responding. But not responding because of an assumption about MONEY....well.....i just think there was something to that....HENCE THIS DISCUSSION.

[CD]

check it out for yourself./www.consumerfed.org/102903blackamsaves.pdf (www.consumerfed.org/102903blackamsaves.pdf)

[Tastey]

Ice do you not see that was a fair assumption.

If someone walks up to your door and says "I'm selling candy" isn't it a fair assumption that you'll need to pull some money out of your pocket to pay for the candy?

Now what if...what if...it's only 5cents, what if it's buy one get one free. Your initial response is going to be based on the LOGICAL assumption...that you need MONEY to buy candy.

Anyone who has even an elementary understanding of investing know that it takes money.

That is a logical assumption.

[mystkev]

Originally posted by CD
check it out for yourself./www.consumerfed.org/102903blackamsaves.pdf (www.consumerfed.org/102903blackamsaves.pdf) Not sure what's hard to swallow, because what I saw was improvement and that a large percentage of african americans save regularly. Whether they are on track w/the rest of the world or not.

[swtjamaica]

Originally posted by CD


Swtj

You are not adequatly informed as to the state of Black America when it comes to money and finances. We save a lot less than our cultural counterparts. If we save less then our ability to invest is reduced dramatically. .

Although you may want to think your family is representative of all black families, you are mistaken. The majority of black folks don't even own their own home.



The real estate activity mentioned by ICE-C is common knowledge to those who have interest in investing.

...you have me mistaken...I AM informed adequately, i was just SPEAKING FOR MYSELF!!!! i am QUITE aware of the financial state of black America, and yes, it does SUCK!!!!!

[ice-c]

Tastey....

if i ring your doorbell...

and say "Come on...let's go make some money!"

u won't say

"um....how much?"

but i DO understand how it could have been confused.

[Tastey]

Originally posted by ice-c
Tastey....

if i ring your doorbell...

and say "Come on...let's go make some money!"

u won't say

"um....how much?"

but i DO understand how it could have been confused.

I will ask you "how are we gonna make money?" "when you say by investing in real estate" then I'm gonna say "How much I gotta invest?"

logical progression.

[ice-c]

and i would say....
"less than 5 hrs a week...."

put it this way...

if u own a home...u can sign that home over to me.

guess how much that costs?

[Melotic]

Great subject...

[Tastey]

Originally posted by ice-c
and i would say....
"less than 5 hrs a week...."

put it this way...

if u own a home...u can sign that home over to me.

guess how much that costs?

I understand that Ice. I sent you a PM to learn more.

I'm just saying INITIALLY that was unclear so folks had questions.