by Clarence E. Stowers | May 22, 2008 | Empowerment, Family, Money and Finance
African Americans are steadily increasing their wealth, boosting their
holdings in real estate, stocks, and savings vehicles, as they seek to
fund college educations for their children and create a secure
retirement for themselves. It's a process of becoming ever more keenly
aware of the need to save, invest, and plan for the future.
Black Enterprise Magazine has created the Circle of Wealth, a black
wealth initiative that seeks economic empowerment for African Americans
by changing attitudes toward money management. The Circle is an ongoing
cycle comprised of 1.) Knowledge, 2.) Commitment, 3.) Investment, 4.)
Portfolio Management, and 5.) Wealth, all enabling Reinvestment in
Children, Businesses, and Community. As part of this powerful initiative, the magazine developed the
Declaration a Financial Empowerment, the following 10–point
wealth–building pledge (I added the 11th point 🙂
In order to attain a measure of
success, power and wealth, I shall uphold the principles of saving and
investing as well as
controlled spending and disciplined consumerism. I vow to fully
participate in the capital markets and make a solid commitment to a
program of wealth accumulation.
Determination and consistency will serve as my guides, and I shall not
allow external or internal forces to keep me from reaching my goals. By
adjusting my course and embracing a new mandate that stresses planning,
education and fortitude, I lay a strong, unbreakable foundation for the
preservation and enrichment of my family, children and children's
children.
From this day forward, I declare my lifelong commitment to financial empowerment.
DECLARATION OF FINANCIAL EMPOWERMENT
I pledge the following:
1. To use home ownership to build wealth
2. To save & invest 10-15% of my after-tax income
3. To commit to a program of retirement planning and investment
4. To engage in sound budget, credit, and tax management practices
5. To measure my personal worth by my net worth, not income
6. To be proactive & knowledgeable about investing, money management, & consumer issues
7. To provide access to programs that will educate my children about business & finance
8. To support the creation & growth of profitable, competitive black-owned enterprises
9. To use a portion of my wealth to strengthen my community
10. To ensure that my wealth is passed on to future generations
11. To give @ least 10% (or more) of my wealth to my church to honor God and expand His Kingdom
TODAY IS THE DAY I TAKE CONTROL OF MY FINANCIAL DESTINY!
COME JOIN US AND MAKE THE COMMITMENT!
by Clarence E. Stowers | May 20, 2008 | Other Stuff
Only us will do stuff this stupid… (you gotta check this video out – click the link)
Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity!
Sometimes my people make me angry – the stuff we do for money…
Black people, when will we learn?
How can we stop the madness? C'mon, help me…
by Clarence E. Stowers | May 16, 2008 | Money and Finance
Recession,
recession, recession. Everyone has been talking about this topic
lately. Some say a recession is almost here, others say it has
already begun. But, what is a recession exactly?
First,
lets get to the definition of a recession and then I will give you
some tips on how you could recession-proof your life.
Defining Recession
Well,
technically, a recession is when the GDP or gross domestic product is
showing two consecutive quarters of negative economic growth. While
they are extremely unpleasant, recessions are a normal part of the
business cycle and typically, well, last for six to eighteen months.
What makes a recession noticeable to you and I is when it starts
affecting our wallets.
So
how can you spot a recession before it comes?
-
Watch
the Gross Domestic Product or GDP. If there’s a sudden drop in the
domestic product and production, there’s a chance a recession
might be coming.
-
You
can also watch the value of the US dollar. If the value drops while
other currencies maintain their value or rise, it can sometimes mean
an impending recession. Obviously when you see a drop in the dollar
value, it is always in relation to other currencies. What we have
seen lately is the dollar moving down, and that is obviously a
precursor to the recession we are witnessing right now. That is
also a real good forward forecasting method to see if a recession is
going to be around the corner.
Recession-Proof
Your Life
Now,
the really important part…how to recession proof your life. It’s
all about planning ahead.
- Start paying off that bad debt. By ‘bad’
I mean those high interest credit cards and late fees. Combine all of
your debt into a much better scenario for yourselves. Find the low
interest rate possible, and you’ll have more success in
balancing those books further down the line.
- Start a side business
that can help keep you afloat should the economy take a turn for the
worse and you’re laid off or have, you know, maybe your hours cut.
Obviously it is all about planning ahead.
- Make sure you continually
invest in your 401K plan as much as you can. Think about it, stocks
are low and you get more for your money right now. Take that extra
money you have and put it somewhere you know it’s going to grow no
matter what happens to the economy.
- Make sure to refinance your
mortgage and get a lower interest rate. This will help you save big
time during a recession.
So, what are you doing…
by Clarence E. Stowers | May 15, 2008 | Family
When life deals you blows and setbacks, coming home to this evens the score…this is for Daddy’s little girl…
by Clarence E. Stowers | May 13, 2008 | Bible Journey
I’m in the process of going back through the Bible viewing it through the eyes of a leader. Here are more leadership gems from Matthew 8-14
- All leaders face fear. Having faith doesn’t eliminate fear. God is
still in control, though, so we don’t need to be paralyzed by fear. (8:23-27)
- Jesus modeled building relationships with those he was trying to influence. (9:11)
- I’m supposed to pray for God to send those that will serve beside me. I wish he’d send them faster. (9:37-38)
- The team is more important than the tools. (10:9-10)
- If people don’t listen, I need to move on. (10:14)
- Good leaders find the right balance between being "shrewd" and "innocent." (10:16)
- To go with that, in parts of this book I’m called to be "meek," and
then there are times when God wants me to "forcefully advance" the
mission. (11:12)
- Organizations will will not be successful or last where division exists. (12:25)
- My words will always reflect the condition of my heart. (12:34)
- Though I find strength and encouragement and accountability in my
relationships with others, I still need to prioritize the time when I’m
alone with God. (14:13)
- Sometimes I need to risk comfort and safety to get closer to God. (14:22-36)
