Tucker Carlson: Immigrants Have ‘Plundered’ Our Wealth and Are Coming for More

Fox News host Tucker Carlson told viewers on Tuesday night that immigrants have been “plundering” America’s wealth for decades and more “are coming” to bleed the country dry.

Claiming that “functioning societies don’t operate like this,” the conservative primetime star declared that American leaders don’t want to enforce the laws and “defend our nation” because they are “decadent and narcissistic.”

“That’s obvious and the rest of the world knows it,” Carlson said. “The American piñata has been getting pummeled for decades and now it has finally come apart. Our national wealth is up for grabs by whomever gets here first, and they are coming.”

Read more at The Daily Beast.

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Trump’s wealth in the spotlight with new disclosure forms

America is about to get a tantalizing look into the hidden fortune on which Donald Trump made his name but is at the root of some of the most mysterious unresolved questions about his presidency.


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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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How Students Are Turning Their Fashion Degrees Into a Wealth of Opportunities

There can be comfort in preparing for a career with a linear path to success. But if your aspirations happen to be in fashion, expect the road ahead to come with twists, turns and likely an unexpected detour (or five). Such has been the case for some of the most prominent figures in fashion; see: …

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The Beach Walk Where Bill & Melinda Gates Chose To Give Away Their Wealth | SuperSoul Sunday | OWN

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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Melinda Gates Reveals What Keeps Her Grounded Despite Her Wealth | SuperSoul Sunday | OWN

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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25-Year-Old Nigerian Entrepreneur Is One of the Top Young Wealth Creators

25-year-old Nigerian fintech entrepreneur Odunayo Eweniyi was voted one of the Top 100 Inspirational Women in Nigeria. Forbes Africa named her one of the top 20 young wealth creators in Africa.

In under three years, her startup PiggyVest has helped over 230,000 African millennials invest and save over $ 15 million, reversing the trend of not just millennials (20% of which think they’ll die in debt), but also narrowing the black/white wealth gap.

“PiggyVest actually exists because 80% of Nigerians—and probably Africans—need to save at least 40% of their monthly income to survive,” Eweniyi says. “The black dollar—or in my case, naira—is so important, much more important than most realize.”

In the business of finance and tech, Odunayo—as a woman—sits in the minority. This is exactly why her story is so important. In this Q&A, Odunayo breaks down the importance of black savings, her advice to aspiring founders, and why a broken financial system helped create a quarter million black investors.

BLACK ENTERPRISE: What made you want to become an entrepreneur?

Odunayo Eweniyi: I’ve always wanted to make an impact. I didn’t know how I would do it, but I felt a compulsion to. After graduating from university and trying and failing to get a gig that fit, it became clear that the only thing that’ll fit is something I started on my own. So, my journey as an entrepreneur started the same year I left university.

You’ve managed to effectively change how young Africans invest. How did the idea come about?

Piggybank.ng (now PiggyVest) started as a sustainable alternative to actual, physical piggy banks. People had been using that to save and the process was so flawed. But it also showed that there clearly was a gap in the finance industry that we could bridge.

How did you bridge it?

Piggybank.ng was built as an automated savings platform that helps Africans better manage their finances by making it clearer and more transparent. Our platform helps Africans save automatically. We focus on low-to-middle income earners who are struggling to meet up with their responsibilities and payments because they have no way of saving up. We automatically deduct fixed amounts of money from our users’ accounts periodically, according to their instructions toward a target.

Here in the U.S., we see Millennials and Gen Z who never invested now doing so through Robinhood, Qapital, and so on. Is there an appetite for this in Nigeria? 

Huge! Piggybank.ng actually exists because 80% of Nigerians – and probably Africans – need to save at least 40% of their monthly income to survive. Because we have no credit system most of our payments are done in bulk, upfront, and in cash. The current African banking system, as it is, is heavily transactional—and the charges you incur when you interact with your account form part of a commercial bank’s revenue.

Right.

That doesn’t apply to Piggybank.ng. Our platform is personal, but yet super disciplined. Unlike the banks, Piggybank actually encourages saving by automating the savings process and creating a barrier to access.

How so?

You get four free withdrawal days in a year. Outside of that, withdrawal attracts a penalty. We also offer savings interests rates that are more than 50% better than that of commercial banks.

What’s the traction so far?

We now have over 230,000 users whom we have gathered organically, with about 50% of them actively saving on our platform. And we’ve so far saved over $ 15 million with about $ 7 million in assets under management. We concluded our seed funding round in March last year closing $ 1.1 million from local and international investors.

What’s your advice to young entrepreneurs of color, especially young women? How can they do what you’ve done? What’s the biggest piece of advice you can give?

Embrace the failures and the mistakes; they are opportunities to learn. Persevere; almost everything that is worth it takes time — and aim big. Don’t let anyone place limits on you, and more importantly don’t place any limits on yourself! Whatever you dream of, focus – like laser focus – and then go get it.


Black Enterprise Contributors Network 

The post 25-Year-Old Nigerian Entrepreneur Is One of the Top Young Wealth Creators appeared first on Black Enterprise.

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Socialists are scaring rich New Yorkers into downplaying their wealth

Last year, socialite Jean Shafiroff was in the market for a new car. “I always thought it would be fun to have a pink convertible,” she said. “But my husband made it clear that we can only drive gray or black cars now. “It’s not cool to be too flashy,” Shafiroff, 64, added of her…
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Black Nutritionist Dr. Rovenia Brock Breaks Down Why Health Is Wealth

You’ve probably heard it time and time again that health is wealth—and it’s true. But have you heard it from a black nutritionist? Dr. Rovenia Brock, widely known as “America’s Nutrition Coach” and author of Lose Your Final 15, wants you to live a more nutritionally balanced lifestyle so that you can eat your way to wellness.

With more than three decades of experience in helping people transform their lives and looks, Dr. Ro has helped over a half-million Americans lose more than 5 million pounds and served on the medical advisory board for the Dr. Oz Show for seven seasons. Moreover, she is passionate about helping the black community get in shape.

Like with any lifestyle change, it’s important to start with the facts. And for Dr. Ro, it begins with the harsh health realities that plague the black community. “The fact is that we as a community across the board disproportionately suffer from lifestyle diseases like heart disease, Type 2 Diabetes, hypertension and some forms of cancer. Lifestyle plays a crucial role in why this is.”

When you think about your everyday lifestyle, the time you spend on the go, and the time you don’t have—a good question to ask yourself is what does that mean for your eating habits? If you are someone who can’t find the time to meal prep or make the best food decisions you could benefit from partnering with a nutritionist. Dr. Ro recommends starting with a Google search for black nutritionists because a wellness app can only get you so far.

Partner with a nutritionist

“This person should be credentialed. They need to have at least a bachelor’s of science because nutrition is a science and not an art. At the very least they should have a B.S. in nutrition, community nutrition, or dietetics,” says Dr. Ro.

Once you find a nutritionist who is a good fit for you there is work that you need to do.

“Your nutritionist can create a plan for you based on your personal needs. A lot of people try to do this on an app when tracking their daily nutritional needs. But that’s as pretty far as the app can go. The human expert will know how your needs fit into your lifestyle. And they can adjust that plan according to your real life desired goal. From there it’s really about support, accountability, and honoring commitment within the process,” Dr. Ro advises.

As a coach, she works with clients to help them set and meet their health and wellness goals even when people have a hard time committing to the process.

“As someone who has been doing this for over 30 years, I understand that these are real people with real challenges and problems that spill over into what they eat; where they eat; and when and how they eat it. And when that happens those things can dominate the person’s plan and often breaks the person’s plan. My job as your coach is to help you connect to those challenges and to give you alternatives that will work for you and not against you.”

Sounds like a lot of us, right?

Adopt a healthy lifestyle

If you want to commit to the decision to live differently and lose weight Dr. Ro encourages you to know your “why” and do it for yourself.

“You have to figure out what your why is. That gives me information on some of the things that they struggle with and insight on whether or not what they have done in the past has worked for them—and why it maybe didn’t work for them.” She adds, “If you’re doing it for someone other than yourself it’s never going to work. It has to be your reason for doing it. You’re never going to achieve permanent results if you’re doing it for someone else.”

Lastly, Dr. Ro says that you have to set realistic goals.

“The reason why my book is called Lose Your Final 15 is because you’ll be losing your weight 15 pounds at a time no matter your number. When you have a specific goal you can map out a specific strategy to achieve that goal. You need to have a specific plan. That’s how you measure your progress and stay on track.”

If you are looking to jump-start your nutrition journey today, Dr. Ro has these four simple tips.

Get started today

  • Eat one more colorful vegetable and fruit than you did yesterday
  • Drink one more glass of water than you did yesterday
  • Leave food on the plate – Busy people eat out a lot. If you eat out three times a day you can save up to 500 calories when you do that. If you eat out an average of three times a week you stand a good chance of gaining an extra 45 to 60 pounds a year depending on how often, what, and how much you eat.
  • Cut your portions in half. Eat half of what you ate yesterday and you’ll notice a big difference.

 

Want to hear more from Dr. Ro? Meet her in Atlanta at the SOAR Empowerment Series on April 6. Get your ticket today!

The post Black Nutritionist Dr. Rovenia Brock Breaks Down Why Health Is Wealth appeared first on Black Enterprise.

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Rev. Jesse Jackson and Black Leaders Discuss The Wealth Gap at the Wall Street Project Economic Summit

The Rainbow PUSH Coalition and Citizenship Education Fund’s 22nd Annual Wall Street Project Economic Summit kicked off with a bang on Wednesday, with moving speeches and remarks from a host of dynamic leaders. Rev. Jesse Jackson Sr., the founder of the Rainbow PUSH Wall Street Project, opened the three-day conference by addressing this year’s conference theme, “400 Years Later: Closing the Wealth Gap, Expanding Opportunity.” Although slavery was abolished 150 years ago, a stark disparity in wealth between black and white households continues to persist.

“African Americans have journeyed through four stages of a 400-year struggle,” said the civil rights leader. “Stage one – ending slavery after 246 years in bondage; Stage two – ending the Jim Crow era with its mass lynchings and terror campaigns; Stage three – securing the right to vote; and currently, Stage four – securing access to capital, industry, technology and deal flow in the U.S. economy.”

Closing The Gap

Day one of the summit commenced with the “400 Year Journey Roundtable” discussion, where Jackson was joined by Dr. Johnnetta Betsch Coles, Ph.D., the president of the National Council of Negro Women, and Dr. Ron Daniels, Ph.D., the president of the Institute of the Black World 21st Century, for a conversation on the progress of black Americans since Africans were first brought to the country as slaves.

racial wealth gap

Eugene Mitchell, Marc Morial, and Rev. Jesse Jackson (Photo credit: Gerald Peart)

After that session, Marc H. Morial, the president and CEO of the National Urban League, opened the “Wealth Gap Panel” with a brief history lesson on the origins of the wealth gap, which is rooted in U.S. laws and policies that created systemic barriers that prevented people of color from accumulating wealth. Morial went on to address the controversy around the #ADOS movement, a fringe group that stands for American Descendants of Slaves and advocates for reparations and reform policies that solely benefit African Americans. Some critics reportedly believe that Russian trolls have infiltrated the group and are using their philosophy to cause division among black voters.

“The internet is being used as a tool of manipulation,” Morial cautioned. “Our ability to impact the racial wealth gap depends on our ability to exercise and maximize our political power. We need to maximize our political power if we are going to address the racial gap.”

Wall Street Project Economic Summit

Alfred Edmond, Jr., SVP, Executive Editor-At-Large at Black Enterprise (Photo credit: Gerald Peart)

Morial’s comments were followed by a panel discussion between BLACK ENTERPRISE’s SVP/ Executive Editor-at-Large Alfred A. Edmond Jr. and Eugene Mitchell, the founder of the E. Mitchell Consulting Group and the author of The 7 Untold Rules for Creating Black Wealth: Let’s Come Together and Close the Wealth Gap!, moderated by Janice L. Mathis, the executive director of the National Council of Negro Women. Each panelist discussed tangible solutions to close the gap.

“Spend less than you make—whatever you make—and bank the difference,” said Edmond. “We must get into a situation where we are incrementally and steadily accumulating assets in the form of savings. And right now, when we make more money, we spend more money.”

Edmond, the host of the “Your Money, Your Life” personal finance podcast, also stressed the importance of using debt with the purpose of driving wealth. “We need to create wealth out of any career. Your net worth is what you own minus what you owe. Debt is only good if you are going to take that resource to make more money.”

Mitchell, a former corporate vice president at New York Life Insurance Co., discussed the importance of life insurance and estate planning as vehicles to create generational wealth in the black community. “We’re not doing what it takes to create wealth, to keep wealth, and to sustain wealth in the way of having proper estate planning,” he said.

Mathis also emphasized the intersection between political power and economic strength in the black community. “If we’re going to defeat these wealth gaps, we will do it by using the power of our votes because these systems are entrenched like barnacles onto capitalism that needs to be moderated by democratic principles and ideals.”

Other notable speakers scheduled to appear at the conference include Rep. Maxine Waters, Susan L. Taylor, Rev. Al Sharpton, hip-hop mogul Percy “Master P” Miller, and John W. Rogers Jr., CEO of Ariel Investments.

The post Rev. Jesse Jackson and Black Leaders Discuss The Wealth Gap at the Wall Street Project Economic Summit appeared first on Black Enterprise.

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It will take more than a tax on the rich to fix the wealth gap, says former Sen. Heidi Heitkamp

The call to increase taxes on the wealthy has been gaining steam — but that isn't enough to stop to the growing wealth and income gap in America, says Democratic former Sen. Heidi Heitkamp.
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Larry Summers, ex-advisor to Democratic presidents, isn’t jumping behind Warren’s wealth tax

Larry Summers, who served as Treasury Secretary under President Bill Clinton and as director of the National Economic Council for President Barack Obama, says he'd rather investigate other changes before moving "into whole new areas of taxation."
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Ocasio-Cortez and Warren’s wealth tax plans are ‘economically illiterate’: Trump advisor

"It's very disappointing that over and over again I see the Democrats pursue really economically illiterate proposals just because they think they sound good politically," Kevin Hassett says.
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Richest 26 people now own same wealth as poorest half of the world, Oxfam claims

In a report published on Monday, the charity revealed that billionaire fortunes rose by 12 percent in 2018 as the poorest half of the world saw its wealth decline by 11 percent.
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The Importance of African American Wealth Management Advisers

Manhattan West Asset Management is an extremely diverse firm in the wealth management sector, existing in a world that is overwhelmingly white and male-dominated. The firm is made up of high character, highly-educated financial advisers with incredible backgrounds that previously reflect leadership roles at Morgan Stanley and JP Morgan among others. It currently has a mix of African American employees that hold executive roles, Latino American partners, and a list of high ranking women.

Although extremely impressive, this is not the norm. Stats that include this type of makeup are extremely low. According to the Center for Financial Planning Board  (CFP), less than 3.5% of all the 80,000 certified financial planners in the United States are black or Latino. So what is going on?

BLACK ENTERPRISE caught up with executive Justin McCurdy to find out what got him involved in wealth management and the importance of African American wealth management advisers as a career option for people of color.

Black Enterprise: How did you break into Wealth Management?

Justin McCurdy: I do not have the typical background of most wealth management professionals, but I believe that is why I am able to serve such a diverse client group. I came to the United States as an immigrant from Canada. My family moved from Jamaica to Canada before I was born in search of more opportunity. I won’t go too far into my personal life, but my background contributes to how unusual it is for me to be in my current role. My mother had me at a young age and we moved from apartment to apartment, city to city, before finally settling in Los Angeles when I was 11 years old.

I worked hard and was accepted at the University of Southern California. I financed my education through financial aid and the revenue earned from the youth sports organization I founded at the age of 18, which I still operate today. After about a dozen internships, I graduated and took a position as an advisor at Morgan Stanley. With no family connections, financing or an existing Rolodex, it was an uphill battle to build a client base. Fast forward 5 years and I am now at Manhattan West Asset Management holding a leadership role and realizing the abundant opportunities available when you’re willing to go after what you want in life.

What attracted you to wealth management?

My passion in educating those who did not come from backgrounds that gave them the skillset to properly manage wealth is what initially attracted me to the industry. I came from a traditional working-class family and although supportive, I was not exposed to wealth accumulation or preservation concepts. I worked extremely hard to educate myself and with the help of mentors I met through sports was able to develop a strong understanding of finance.  Ultimately, I want to use my knowledge to educate and empower those around me, with a special focus on those that might have encountered the same roadblocks as me along the way.

What types of clients do you advise?

My clients stem from all walks of life but I have a special emphasis on professional athletes and entertainers.

African American wealth management advisers

Justin McCurdy and client, retired NBA veteran, Ryan Gomes (Image: Instagram)

Why do you think there is such a drastic shortage of African-American Advisors?

It’s simply a matter of exposure. African American kids do not often see Financial Advisors of color, making it hard for them to envision themselves taking that career path.

Why is it beneficial for African-Americans to be involved in a career like this?

It’s my belief that the more African-American advisors there are, the more educated the black community will be about finance. This will only lead to more wealth accumulation and preservation within the community.  Living in such a unique time where people from all demographics/walks of life are acquiring wealth at sometimes rapid paces leads me to believe that professionals servicing them need to evolve and represent this newfound diversity as well.

Many African-American children have not had the opportunity to see successful Financial Advisors of color and that needs to change.  I want the upcoming generation to see wealth management as a viable career opportunity that embraces those willing to work hard for their clients. Class, background or socio-economic status should not be a factor.

 

The post The Importance of African American Wealth Management Advisers appeared first on Black Enterprise.

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Family matters for future wealth

New research, for the first time using actual income numbers from two generations of Australians, reveals they do not easily move from low-income to high-income bands, however mobility is greater than the US. The analysis also suggests that family structure — who you’re married to, when you have children and how many you have — matters when it comes to income mobility.
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‘We need to trust the decision-making’ of OPEC: Russian sovereign wealth fund

"I think we need to trust the decision-making of the joint body because they're not interested in artificially high oil prices," says the CEO of Russian Direct Investment Fund, Kirill Dmitriev.
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Wealth of world’s billionaires grew 20% last year, study reveals

China's ultra-wealthy are driving the trend, adding two new billionaires per week last year, and growing at a rate almost double that of the Americas and Europe.
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