Race and wealth is always a touchy issue here in the States. While on the one hand, free trade and transparent capital markets have done wonders for many Americans, minority ethnic groups are sometimes left behind in our economic system.

That said, in an effort to bring Afro-American voices into the personal finance discussion, here is a video by Keith Jones, a speaker and author who has focused on building wealth in the African-American community. If you listen to the core of his message, I think you’ll find that its consistent with writing by others: live frugally, save and invest regularly, etc.

The video is a bit long, so you might want to close your browser and listen to it in the background.

Best,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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