Abundant Living, Black Mental Health, Featured Category

Building Generational Wealth

February 13, 2020

Systemic issues that seek to prevent building general wealth in black families will probably always exist within this country

 

Poverty Mentality

The Black community have suffered for so long from poverty, that many of us have developed and have become attached to a poverty (scarcity) mentality. We have generations of families that have nothing to offer the next generation which serves to continue the legacy of poverty, poverty mindset, and financial dependence.

Here we are celebrating another Black History month, and many families are still in the same financial situations as the years before. Building wealth is not the only goal for black families. But, building wealth is a necessity.

 

Black families have longed prayed about the many complex problems that our communities face, but we need much more than prayer. Click To Tweet

 

Religion

While our community has focused on religion and faith – which has historically told us that money is the root of all evil – we have not progressed very far in economics, financial stability, and healing our families.

Black families have longed prayed about the many complex problems that our communities face, but we need much more than prayer. There is absolutely no doubting the power of prayer, but I know that God needs people who are willing to step out on faith.

God is not going to come down to earth to do what we can do ourselves. Yes, He gives supernatural assistance and has the power to completely transform our lives, but many of us are living with broken familial cycles that do not serve the greater good for ourselves and our families.

It’s not just about changing our actions; we need to change our mindsets. God can work miracles and bring us to new circumstances, but if our mindsets are still attached to the past with outdated information, we will never advance further into His kingdom.

 

God is not going to come down to earth to do what we can do ourselves. Click To Tweet

 

Building General Wealth

Building generational wealth is essential to reducing the financial instability that our culture faces. Most of us recognize that systemic issues, racial issues, and social issues will remain prevalent issues that we will face.

Many of us are dying with nothing to pass to our children and future generations. Building generational wealth allows us to build up our family systems and encourages us to invest in our families and in each other. Wealth provides access to resources that we are sorely lacking.

 

Building Generational Wealth for our Families

Here are some ways for your consideration to help you build generational wealth for your family. These are not overnight options, they require structure, discipline, and planning. Let us focus on long-lasting wealth for our families rather than short term goals, such as fancy cars and jewelry.

  1. Learning a trade vs traditional educational opportunity
  2. High interest online savings accounts
  3. Life insurance policies
  4. IRAs
  5. Property investments
  6. Investment in entrepreneurship
  7. Investing in new and up & coming industries

 

Renew Your Mind

These are just a few suggestions to get you started on thinking about ways to transform your life. We can’t wait on others to transform our lives; nor can we wait on societal influences to change our lives.

God (not religion) has given us all talents and gifts, let’s think about how we can build on them to change our life trajectories.

 

Follow Through

Begin by exploring the worksheets on the Printables tab and engage in a self-exploration if you’re unsure of what your gifts are.

If you believe that you also have self-defeating thoughts, then grab your copy of the Limiting Beliefs Workbook in the GMP shop and get to work.

Remember, God reigns about all circumstances, and you are the only thing blocking your abundance.

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