Eddie C. Brown is the founder, chairman, chief executive and senior portfolio manager of Brown Capital.
I was raised in the Jim Crow South, when the railroad tracks separated whites from blacks and African Americans were considered second-class citizens. Raised by common laborers who worked hard in Florida’s citrus groves, I had my world widened by weekend excursions to Orlando, where seeing white men in suits and ties behind desks left an impression. It was there where possibility was seeded.
I began my investment career as the first African American portfolio manager at T. Rowe Price in 1973, not because of some quota or the good graces of white executives, but because the meritocratic model made me visible and managers were supportive. After 10 years in the business, I became an entrepreneur.
Source: WAPO
My Comments: I found Mr. Brown’s piece in the Washington Post to be very insightful, timely and important reading for African Americans still trying to eek out a piece of the American dream.
Christine Benz
Attribution: This article was posted on Morningstar.com by the veritable Christine Benz. I could not help but post it on my blog because this is the clearest I have ever seen the numbers laid down that describes in pure detail what racism looks like.
Income and wealth disparities along racial lines have repercussions for all aspects of life in the U.S.: education, health, homeownership, retirement, and life expectancy.
Racial inequality in the United States has many dimensions, but one of the most impactful and broad-ranging is economic. On average, people of color experience significantly
lower levels of income, retirement savings, and rates of homeownership than white Americans. Those shortfalls contribute mightily to other ill effects: poorer healthcare outcomes, lower educational attainment, and shorter life expectancies, for example.
Making strides toward improving these issues, let alone solving them, is far from simple. But a key first step is acknowledging and understanding the magnitude of the problem. And if there’s a single positive associated with financial inequality along racial lines, it’s that it’s incredibly easy to demonstrate with data.
Here are some key statistics about the impact of the racial divide for income, savings, and overall financial well-being.
1. Don’t make a belief about “living in the moment.” Either do not trust that purchasing new bags, shoes, or clothes can give you extra points, yet don’t think it is cool to squander. Before the age of 30, you need to save money and accumulate assets for yourself. Cash is your fundamental courage and confidence when faced with difficulties.
2. Hold the strongest desire to win and insist on self-improvement. If you go all out, you will have no regrets even if you fail.
3. Learn to invest and manage money to make more benefits. After many years, you will find that although people who manage and people who do not manage may have the same income level, they have a significant gap. And this gap will have an increasing effect over time.
4. Manage your time. After getting off work, spend two hours studying to improve yourself. In the long run, you will become significantly different from those who spend hours watching soaps and playing games.
5. Be prepared for change. In this era, no job will exist forever. The company wants to see the benefits. Once you cannot create benefits, you will be dismissed without exception. Learn to accumulate methods and resources so that you have core competitiveness. Even if you are layoff, you can feed yourself.
6. Don’t let yourself stop for a long time. Once you get used to it, you will lose your ability to seek change, and you will eventually become a man abandoned by the 21st century.
7. Learn to accept yourself. Accept that you are imperfect. Let your advantages to glow and heat continually, and you will eventually become the best self.
8. Formal education will keep you busy for a lifetime, while self-education will keep you productive for a lifetime.
9. Your current situation is the result of your past. If you are not satisfied with your current situation, it may be that the past efforts are not enough. If you want to be happy with yourself, you should start with what you can do right now. And the only people who can change the status quo are ourselves. Even if you are conscious but don’t take corrective action, then after five years, you may be more passive than now.
10. Curious about the world every day, tirelessly drawing knowledge from books and courses, especially willing to invest for your growth. Continue to invest in yourself and become a more valuable person.
11. Health is important. Staying up late when you are young will sooner or later turn into tears when you are old. After all, life is a marathon. It is good to run fast, but more importantly, it is better to run far.
12. Nowadays, information technology is so developed, with all kinds of temptations are emerging, and our time is easily eaten up by various mobile apps, games, and advertisements. Time black holes like Tik-Tok, if we are not careful, it will drain your time. Ask why you have done nothing? Because you haven’t used your time well.
13. Life is short, follow your heart more, and do what you like. Follow your own heart, take your path, and be your protagonist.
14. It is easy to give up, but it must be cool to persevere. Life will fail people who work hard, but not people who work hard all the time. Be kind to yourself, and be cruel to yourself.
15. Reduce the amount of time for meaningless chatting and socializing. Devote more time to yourself, and gradually approach people who are close to your hobbies and views.
16. There are three most essential costs in life: time, health, and money. Every time you do something, ask yourself, what expenses do you have to pay, how much do you have to pay. This helps you judge whether a thing is worth doing.
17. Getting close to people who appreciate you and encourage you will give you motivation and courage. Stay away from the people who disappoint you and oppose you, because getting along with such people for a long time will consume your emotions excessively.
18. Find a way to make yourself happy, such as one or two small interests that can indulge yourself.
Lifted from Quora
Really like this list – lifted from Quora by Kelly Duncan:
See it here – https://qr.ae/pNrEU2
I just love this list that I lifted from Quora – written by Jasmin Mous, 