Do It For The Hood

08/01/2021

10/10/2020

Buy a house and get a 15 year fixed mortgage rather than a 30 year mortgage. Saves a lot of money in interest over the life of the loan. If you must get the 30 year mortgage, verify that there is no prepayment penalty. This gives you the flexibility of paying it off early if you are able. But it also gives you the option of making lower payments when times are tough...

When you start your job, get an HSA account and not FSA and get the high deductible health insurance. It will lower your tax bracket and the money is yours to use. You also earn 40% in most cases after 10k!!!
Never buy a car brand new! I’ve watched Escalades go from 100k (new) to 35k four years later.

Get you an LLC (incorporate your name!!) and run it as an S Corp. Remember Jay-Z quote “I’m not a Businessman I’m a Business Maaaaaaaan....” Let that sink in.
Build business credit! The loans are bigger and the interest rate is lower.

Once your LLC has been established you can then hire your children and pay them an annual salary up to $12,400 which serves a tax break for you and lowers your yearly liability, at that point your children can use their earnings to pay for things like their tuition, school trips and any other activity or upkeep that you were originally going to be financially responsibility for so their needs are met, you're assisting them in establishing a good work ethic but more importantly you're decreasing your taxes and keeping more of your earning in house

Get a business bank account (in most cases this costs around $500 to start). Some people got two stimulus checks (one from Trump and one from the SBA). Also no fees.

Go to Community College first and transfer into a four year college (unless you have scholarships to help mitigate the costs) as a Junior. School is a power move you must be able to secure the bag. Majors in STEM will always be needed, are in high demand and the skills can directly help the black community.

If you want to support Black People, support Black Business and Black Institutions of Higher Education.

Get life insurance for you (whole life) and your children (term) as soon as they are born (one thing is for sure is we will die..might as well leave your kids or family something extra). The sooner you get it, the cheaper it is. And you can borrow against it to fund certain projects. Also, the ones that pay out dividends are the best! They normally are associated with the market (money market accounts). IUL’s are great!

Get the people in your immediate family to save collectively! If 10 people save $500/month, that’s 60k every year. You could buy 3 starter homes every year and in 4 years all ten of you are home owners. Buy on the same block or neighborhood if you can...this way you control the value of the homes (remember Monopoly!).

We need to promote financial literacy. Building capital and creating equity to create generational wealth. Having financial freedom is everything! This is not being taught in the school curriculums or our education systems! We must do it ourselves!

***I need 10 people to copy and repost this on their pages and groups and spread financial literacy!

10/07/2020

The fridge is for anyone who needs fresh produce, baby food or even a pre-packaged meal.

10/04/2020

09/23/2020

Five states have been added to New York's travel advisory, Gov. Andrew Cuomo announced on Tuesday. The advisory requires individuals coming to New York from areas with significant community spread of COVID-19 to quarantine for 14 days. Areas are added based on whether they have a positive test rate....

09/15/2020

We want to change the perception and the landscape of what is represented. Black Day Traders exist a

08/19/2020

08/17/2020

Three Buffalo School teachers, three different grades, three different schools, have all come forward to the 7 Eyewitness News I-Team to share a message: inside the schools they don't feel children are safe.

08/17/2020

See if you qualify for a new solar program that allow homeowners to install solar panels with $0 upfront costs. Easy government incentives!

08/15/2020

From Dr Boyce Watkins:

It’s very important that we understand one important fact.

Building wealth is deeply connected to your culture and value systems.

If we teach our young men that life is about fast money, entertainment and sports, that is all they will understand.

But if we teach them about investing for the future, learning about economics, starting businesses, and owning real estate, then this will impact how they view the world.

We must confess that our children have no problem learning the latest dances, buying pairs of Jordans and keeping up with the drama on social media.

But does your child know how to invest in the stock market?

Your child made the football team, but has your child learned how to create their own LLC?

You sent your daughter to cheerleading camp and it cost you a fortune, but did you also send her to a class to teach her how to be a homeowner?

These are the things that wealthy people are doing with their children, and these are the things that Black people must do as well.

If you’d like to take a look at our Black Business School for children please visit BlackMillionairesOfTomorrow.com

08/14/2020

AMC is finally reopening its theaters, and guests will need to spend just 15 cents to get in.

08/14/2020

Curious about the specifics of maritime law? Read the latest blog from Michael Flanagan, then contact our office today for your initial consultation!

08/14/2020

Looking for a great mantra? Start here.

08/12/2020

Many parents are already overwhelmed with how to keep their kids on track academically this fall. But one subject can actually improve students’ performance, concentration and mood while they are learning remotely. Read more here.

08/10/2020

An urban music driven crime thriller where gangstas on the run push drugs and guns to survive the threat of the cops on the gritty streets of Oakland, CA that features Bay Area rap artists Bavgate, Keak da Sneak, Ricky Styles, Rankin Scroo, Poohman, D.J. Upgrade and Tony Tag

08/07/2020

The self-imposed deadline by Congress for the second stimulus package is today.

08/07/2020

Anything worth keeping, takes time...

Learn patience and planning becomes easier.

08/07/2020

Buffalo schools superintendent Dr. Kriner Cash had suggested it might not be a good idea to start any in-classroom instruction for students until October.