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Black Folk's Guide to Making Big Money in America
A primer on personal finance, business and real estate. It is truly comprehensive and a must read for anyone serious about improving their financial situation.
First, Trower-Subira emphasizes the central importance of home ownership as a source of equity capital. He decried the usage of earned income and accumulated home equity to fuel (conspicuous) consumption binges. Trower-Subira got it right when he said that real estate should be the base asset for African Americans from which to build wealth. As long as you borrow against your home to acquire other, income producing assets, you are doing yourself a favor by pursuing homeownership.

Second, he stressed the importance of financial assets in building wealth. Trower-Subira puts forth a brilliant explanation of the types of assets that produce income and that African Americans in particular should endeavor to pursue (real estate is just one of several).

Third, Trower-Subira emphasizes the importance of continuing education combined with an asset-based approach to wealth building. Trower-Subira wrote in the context of his day, but now the game has shifted somewhat. That is not to say that the problems of his day are no more; indeed, many of the problems of his day still relentlessly follow the African American community, and in too many instances, the problem have actually gotten worse. Although we are presented with new opportunities, we also face new challenges- on top of the same old challenges that we have yet to vanquish.
'80s  advice  African-Americans  Amazon  books  business  home_ownership  mindsets  personal_finance  primers  real_estate  self-help  wealth_creation 
april 2019 by jerryking
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