Most of us came to this country looking for the American dream. The importance of hard work, education, and love for our community is instilled in us as children, with the hope that these principles shape our future. However, when we finally find ourselves in an environment where we can put these principles into practice, we are overtaken by what is called survival’s remorse. This is a condition where, after emerging from a challenging situation, such as poverty, you feel the need to pull everyone out of it. Some refer to this as the black tax, where it is almost mandatory to support your families or dependents. If you’ve ever been on an airplane, you’ll notice they always tell you to put on your own oxygen mask first before helping others. Don’t get me wrong; it is a blessing to help others, but you cannot keep doing that if you do not have a plan for yourself. This only means sooner or later, you will end up at the bottom with the same people you are trying to pull up or even lower.
When it comes to building wealth, many African immigrants are facing an uphill battle. So, the big question is, what can I do? Saving money will not make you rich. When you turn around and see affluent people in their Teslas and Bentleys, these individuals did not grow their wealth by putting money in their no-interest savings accounts. How many times have you seen interest being deposited into your savings account? For the most part, it is below a few cents. You need to leverage the power of the financial services community. The wealthy utilize financial products that can take their money and grow it exponentially.
What I love about the financial services industry is that it offers a wide variety of products to meet your needs. My most favorite benefit is that some of these products can grow your money and still protect you from loss. I am personally a fan of financial products that let you grow a cash value, and this is what I have used to help several families. If you have an account that can grow interest of up to 12%, why would you not take advantage? The biggest question should be how I can get access to this and how can I earn more on my money. You will be shocked at information that is not available within our community.
Our people have not had the opportunities to truly accumulate wealth until very recently. Most of us are now standing in positions to build a new legacy for our families. Gone are the days where we made excuses like wealth transfer, inheritances, or estate planning did not occur during our upbringing. Intergenerational wealth has not been a thing in our communities. The story can be different today. Only you have the power today to redefine what wealth transfer looks like for you and your family. We can all agree that wanting to give your children a better future, one with fewer challenges than you had, is a universal desire. Our takeaway should be that scared money doesn’t make money.”
