No Struggle, No Progress
No Struggle, No Progress
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…and what blacks must learn to survive this new economy By Solomon Ali, Private Equity Investor It is important for Black Americans to understand that if you invest some money for 13 months you will pay less on that investment income in the form of capital gains tax than you will on your earned salaried income. The more that pyramid flips in the favor of investment income or passive income, the less tax you will pay. “The Borrower is Slave to the Lender” – Proverbs 22:7 As Black Americans, we are a spiritual people and always have been. I...
… and what blacks must learn to survive this new economy To bring this lesson home, a person who earns $100,000 per year and spends $100,000 per year will prosper far less than a person who earns $40,000 per year and spends only $20,000 per year. The latter person is on the path towards building wealth, whereas the prior person is spinning his or her wheels and making no progress towards achieving wealth. In fact, bankruptcy could be in his or her future if there is an abrupt loss of income. You now have the idea. Wealth is the result of a...
… and what blacks must learn to survive this new economy The general population, otherwise known as the 99%, have a love/hate relationship with wealth. They resent those who have it, but spend their lives attempting to get it for themselves, all the while self-sabotaging that effort in ways that are avoidable if they knew the rules of the rich. Yes, the rich have rules. The reason most individuals, and certainly the majority of Black Americans, never accumulate any substantial savings is because they do not understand the nature of money and h...
