The Importance of Owning Your Own Business – Dr. Boyce Video

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action 

In case you didn't know this, one of the things that most people think about every single day is how they are going to make enough money to get by. Life is tough and finding enough money to live can be even tougher. What's worse is that the black community's struggle to build economic institutions and obtain financial security are things that keep us from being truly liberated in a fundamentally and historically racist society. The link between civil rights and economic prosperity was the seminal reason for my book, "Black American Money."
The commitment I made to the black leadership and the audience at the "Measuring the Movement" forum this year (hosted by Al Sharpton and the National Action Network) was to promote the idea of black entrepreneurship. Entrepreneurship is not just a matter of having your own business. It can also be as simple as finding some extra streams of income in order to obtain critical financial security. In this economy, you have no job security if you've only got one job. You have to find (what I would call) "a side hustle."

 

Click to read.

The Latest from The Invested Life – 10/29/10

 

Chicago:

(video) Tom Forde talks about whether a Roth IRA is right for him, and what he’s learned as he’s researched it:

http://bit.ly/aGO9uC

(text) while Matt Sapaula says that financial security is important, but insuring yourself is every bit as vital:

http://bit.ly/bhh8eC

Portland:

(video) Kathleen Lansing explains why her road to retirement is scary, but it makes the small business owner proud to hear about the value of her life’s work:

http://bit.ly/9XdF7n

(text) While Jenn Meacham looks back on the most important financial lesson she learned, at age fourteen:

http://bit.ly/cY3cUS

Los Angeles:

(video) Lisa and Brandon Schindelheim explain how switching roles taught her about finance, and him about he difficulties in being Mr. Mom:

http://bit.ly/bkM7w5

(text) While Candace says that’s it important to educate not only yourself about finances, but your kids as well:

http://bit.ly/aDm6yX

New York:

(text) Jennifer Sherwood explains why shopping in fancy stores might be a rush, but so is saving money:

http://bit.ly/cAQsyV

(text) While Dr. Boyce Watkins says that you don’t need to have big money to build a portfolio:

http://bit.ly/a4e8YR

Colorado:

(text) Michael Jake is glad to hear that his business has grown enough to start hiring, but has his concerns:

http://bit.ly/ajLbzk

Dallas:

(text) On our show, we’ve seen former NFL star Winfred Tubbs thinking about buying a house. In this new blog, he reveals that he’s had to scrap those plans and live in his condo instead until the real estate market improves:

http://bit.ly/bZNNn6

(text) While Ed Butowsky talks up the value of utility stocks:

http://bit.ly/cQiuZW

Miami:

(text) Suzan McDowell reveals her list of the 10 must-by priorities she can’t live without, and what she learned about herself while compiling it:

http://bit.ly/bWYiX7

(text) While Ben Tobias explains that if you don’t know what’s important to you, you’ll never effectively maximize your happiness:

http://bit.ly/9e6k3c

Is Racism an Occupational Hazard for African Americans?

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action 

Most of us know Hanes Brands as the company that has Michael Jordan peddling underwear. The company is also responsible for other leading brands such as Champion sports apparel and Playtex, among others.

The company is now in the middle of controversy after an African American employee, Yunusa Kenchi, filed suit for discrimination. An embarrassing email has allegedly surfaced in which Kenchi was referenced using the n-word. The employee has taken the case public, and Hanes has yet to respond.

 

Click to read.

Study Says Black Single Moms Getting Hurt Most by the Recession

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action 

NYU’s Women of Color Policy Network recently released a report citing some disturbing trends in the economic status of single mothers of color. Basically, the report shows that women of color have a median net worth of zero. Yes, you heard that correctly, nearly zippo in the bank account, and maybe a little bit of debt.

The numbers compare with a net worth of $25,000 for single fathers of all races, and a net worth of $6,000 for white single moms. Young single moms are in the worst shape, with more than half of the moms under 40 having zero or negative net worth.

 

Click to read.

CNN’s Almight Debt

http://www.cnn.com/video/#/video/us/2010/09/23/inam.trailer.almighty.debt.cnn

Documentary Clips

CLIP#1
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/05/inam.almighty.debt.clip1.cnn
SHORT URL http://on.cnn.com/cHsGQR
CLIP #2
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/05/inam.almighty.debt.clip2.cnn
SHORT URL http://on.cnn.com/aAYp0W
CLIP #3
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/05/inam.almighty.debt.clip3.cnn
SHORT URL http://on.cnn.com/9RKoRK

CLIP #4
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/06/inam.almighty.debt.clip4.cnn
SHORT URL http://on.cnn.com/bDH99C
CLIP #5
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/06/inam.almighty.debt.clip5.cnn
SHORT URL http://on.cnn.com/9L9cd5
CLIP #6
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/06/inam.almighty.debt.clip6.cnn
SHORT URL http://on.cnn.com/bYEDlA
CLIP #7
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/06/inam.almighty.debt.clip7.cnn
SHORT URL http://on.cnn.com/9biKix
CLIP #8
CNN.com URL http://www.cnn.com/video/#/video/bestoftv/2010/10/06/inam.almighty.debt.clip8.cnn
SHORT URL http://on.cnn.com/cAVC4n

Townhall clips

CLIP#1

Should pastors provide financial advice?

http://on.cnn.com/dgDg5h

CLIP #2

Sources of the wealth gap

http://on.cnn.com/c4uUvF

Townhall Photos

http://imftp.turner.com/User/ImageListing.aspx?f=19dp

Why Some Black Men Date White Women

by Dr. Boyce Watkins, Syracuse University 

First, I’ll start this article by saying, “just kidding.” I have immense loyalty to black women, and that’s all I’ve ever dated in my adult life.  But after reading the article “8 Reasons to date a white man,” I just had to respond for the brothers.   We know white men are just as imperfect as the rest of us.  But the idea that the author decided to put white males on a pedestal above black men without considering the challenges of being black in America had me fuming.  So, here are some reasons that those brothers who date white women might have decided to do so:

 

Click to read.

Lack of Funding is a Huge Hurdle for Black Entrepreneurs

by Dr. Boyce Watkins, Syracuse University – Scholarship in Action 

Danielle Douglas, an entrepreneurship expert and CEO of Inspire Enterprises, conducted a survey of African Americans interested in owning their own businesses. The survey,which can be found here, was qualitative in nature, asking questions about the pitfalls that people run into when trying to become either full-time or part-time entrepreneurs.
Douglas made it clear that the greatest obstacle that African Americans face when trying to start their own business is a lack of access to capital. In an interview with AOL Black Voices, Douglas said this:
"Overwhelmingly, respondents number one frustration is lack of financial resources as it relates to start up capital , access to capital in general, and identifying viable resources to help them attain capital."

 

Click to read.

Why are Corporations Not Hiring the way we need them to?

 

Click here to watch Dr. Boyce Watkins on CNBC