During the ‘60s and my early childhood in Barbados, I was fortunate to witness my parents’ entrepreneurial spirit. My dad was an executive at a sugar factory during the week, while my mom ran our family’s dry-cleaning business (Millers Laundry) on Baxter’s Road in Bridgetown, Barbados. On weekends, my mom (an accomplished seamstress) made outfits for family and friends, while my dad (an accomplished tailor) also made suits and slacks.

I grew up learning how to build wealth (thanks to my parents) at a very early age. It became a part of my DNA. I also passed that knowledge onto my children at a very early age, and they in-turn will do the same with their children. I learned how to save at the age of 10 when I opened my first savings account. At 14 when I got my first real job in New York, I wasn’t pleased with the interest on the savings account, so I learned how to invest and how to seek a bigger ROI (return on investment).

Around that time, I also learned the importance of good credit and the leverage that comes with it. I went to Junior High School 136 in the Bronx and Theodore Roosevelt High School also in the Bronx. Then, I attended the City College of New York where I received an Undergraduate degree in Economics, and I received my MBA from Long Island University.

Throughout my entire educational experience, not once do I recall any of my teachers or professors discussing any of the vitally important topics in this book, such as: FICO scores, good credit, passive income, residual income, investing in the stock market, or estate planning. I’m not alone in this regard.

Most of my family members and friends never received this vitally important information from their schools and universities either. How on Earth could educators fail to teach such important information? Was this omission intentional? Why was it not included in our curriculums? As a society, if we’re serious about ending poverty, and ending the by products of poverty: crime, mental illness, poor health, homelessness, unemployment, and hunger! Why would we fail to teach people how to build wealth?

Therein lies the reasons why I wrote Building Black Wealth. I’ve been fortunate to receive this knowledge, and it has definitely served me well throughout my lifetime. As a result, I felt the need to share the information with folks who look like me. Over the years, I’ve owned several businesses including: an automobile dealership (Accent Lincoln Mercury in St Louis, Missouri), an insurance agency which I currently own and operate in St Louis, Missouri (StoneLeaf Finance & Insurance Group – www.stoneleafinsurance.com), an internet marketing company (Automotive Internet Marketing), an internet portal (AutoconsultantsUSA.com), and a real-estate company that currently manages our rental properties. I’ve also been self-employed for several years as an insurance broker.

Throughout my business career, I’ve learned the importance of having multiple revenue streams: residual income, passive income and stock market income are the three I focus on in this book. My first business (the Automobile Dealership) was very cyclical. Sales and profits were off in September when my clients
focused on back to school supplies.

Thanksgiving and Christmas were always slow, when they focused on the Holidays. During recessions, it got even worst with unemployment skyrocketing. As a result, I had to seek my income from business ventures that were recession proof to eliminate the peaks and valleys in my revenue. Real-estate and insurance foot the bill perfectly.

People always need shelter! When they get paid, they make it a point to pay rent, life insurance, health insurance, car insurance, and home insurance first even before buying food. The lessons I’ve learned over the years, the experience of running several businesses and being self-employed have all contributed to the knowledge shared with you in this book. The hope is that you will use it to build your wealth, and that you will share it with your family, friends, and loved ones, so that together, we will build generational black wealth!

Thank you for reading BUILDING BLACK WEALTH