by Rupe | Apr 11, 2021 | Education, Money Matters, Social-Race Issues
Je’lon Alexander is a Morehouse Man who graduated in 2018. He has roughly $55,000 in debt, even after a $15,000 annual scholarship. His parents, who have advanced degrees and close to $400,000 of debt between them, deferred their loans and took jobs on opposite sides of the country so they could contribute as much as they could to his education. (Je’lon, too, is deferring his loans while he pursues his master’s degree at Georgia State, with plans to get his PhD.) When Je’Lon’s mother was interviewed for my book, “The Whiteness of Wealth,” she said she did not regret any of these choices, despite the steep costs.
This is an absolute read for parents of black kids – Source: WAPO
by Rupe | Feb 26, 2021 | Money Matters, Social-Race Issues
Income and wealth disparities along racial lines have repercussions for all aspects of life in the U.S.: education, health, homeownership, retirement, and life expectancy.
Racial inequality in the United States has many dimensions, but one of the most impactful and broad-ranging is economic. On average, people of color experience significantly lower levels of income, retirement savings, and rates of homeownership than white Americans. Those shortfalls contribute mightily to other ill effects: poorer healthcare outcomes, lower educational attainment, and shorter life expectancies, for example. The pandemic has exacerbated many of these issues.
Source: MorningStar
by Rupe | Apr 21, 2020 | Frugal-Me, Money Matters, philosophy-religion
The below list was lifted from Quora and is authored by Adam Fayed Founder of Global Online Financial Advisory Firm. I really like this list a lot. I think just successful is enough though – not just ultra successful. I am even sure what ultra successful means. I suppose there is something to be said about degrees.
The ability to delay gratification
- Focus
- Determination
- Persistence
- They are less influenced by the majority
- They are readers
- They invest in themselves
- They invest in financial projects
- They are open-minded
- They also take care of their health and other things which aren’t directly linked to their wealth
- They take personal responsibility
- They are less focused on losses, and more on gains, or a realistic view of gains/losses. Most people are more focused on avoiding loss.
- Focus on the long-term
- They learn from their mistakes
- And the mistakes of others
by Rupe | Jun 19, 2018 | Money Matters
Saving money can be difficult. But spending it? That part was supposed to be easy for retirees who’ve spent decades building up their nest eggs for their golden years.
Source: The Really Surprising Thing People Get Wrong In Retirement
My Comments: Excellent piece on steps to follow in retirement.
1. Update budget
2. Organize your income and expenses into buckets
3. Keep paying yourself first
4. Consider professional advice.
by Rupe | Jun 19, 2018 | Money Matters, Pure Fun
Fritz Gilbert knew in his 20s that he did not want to die at his desk. Gilbert, 55, who retired last week, started saving decades ago for what could be one of our most fraught decisions: When do I retire?
Source: When should you retire? Don’t die at your desk, but don’t outlive your money either
My Comments: This is an excellent piece. It presses all the button for me.
by Rupe | Apr 23, 2018 | Money Matters
I know how to save. It’s in my DNA.
Spending, now that’s a challenge. My dog chewed away part of the cushion on the inside of one of my shoes. You can clearly see his bite mark. But will I replace it? Not a chance. That, to me, is unnecessary spending.
You’ve no doubt heard many times that we have a retirement crisis in part because people are spending more than they are saving.
Source: How to live it up without going broke before you die
My Comments: Pretty insightful piece from Michelle
