The Power Of Saving (Continued for The Seed)

I met Jerilyn And Ashley when I interviewed them for Our August Edition of The Seed entitled Be Naturally Beautiful after the interview we talked for a while and Jerilyn (pictured left) mentioned that she bought her first car with money she earned from Disney stock. Chris had given me the idea about the (WE)alth article a few months before and I asked Jerilyn if she would help me and she agreed.

Jerilyn is the Co-founder of Afiya LLC. Afiya sells a vast array of all natural, haircare and skincare products. Jerilyn has been investing practically all her life, so I decided to ask her a few questions that might help those of us who may not know much about finance. Below are her answers.


Henry: How old were you when you started investing?

Jerilyn: I started investing when I was about 5 years old. At that time I was guided by my parents, by middle school I was able to research investment opportunities independently. However the investing was still guided by my parents.

Henry: How did you get started?

Jerilyn: My parents started me out with the simplest form of investment which is basic saving. They opened an account for me at their credit union. They would give me a weekly allowance of $5 dollars. They made me put half of it in my savings account. They also made me save half of all the money I received for Birthdays and Christmas. My father always watched the ticker tape of the stock market on CNN and would read the stock information in the newspaper. When I was about 10, my father encouraged me to invest some of the money I had been saving into the stock market. At that time, I had about $1,500 dollars in my savings account. I decided that I wanted to buy stock in Disney, one of my favorite channels at the time. I used the money I made off of that stock purchase to buy my first car.

Henry: What should people do before they start investing?

Jerilyn: I believe that people should do a good amount of research before they start investing. Decide what your goals are for investing. It is important to conduct research so that you can invest in a way that will help you reach your goals. It is imperative that you understand all of your investment options before you develop your investment strategy. You also should have an understanding of the industries you are considering investing in. In many industries there is a buying season, where stocks prices are traditionally lower than other times in the year. Good research is the best first step to any sound investment strategy.

Henry: What options are available for people with limited financial resources?


Jerilyn: People with limited resources can consider the following options:

1. One of the best investments a person can make is to pay off debt first. For example, if you have a consumer credit card and your payment is $36 per month. If you pay that card off, it makes it easier to divert money to investing.

2. If you do not have debt, take an inventory of your current expenses to see where you can re-allocate funds for investing. Cutting back on things like eating out, movies, shopping, etc can free up cash for investing.

3. Start saving early and regularly. It is one of the simplest forms of investing. Savings accounts pay compounding interest. Over the course of a couple of years you can see a sizeable increase depending on your rate of saving. That’s why it is important to start as early as possible. Once you have accumulated 1,000- 3,000 you can roll the money into a money market savings account with a higher interest rate.

4. Buying shares for the long – term (15+ years) is an ideal option for those in their twenties to forties. Also consider saving up an initial $ 500 - $1000 to buy units in a professionally managed fund. Then make regular contributions to grow the portfolio. This was my mother’s strategy. She was a school teacher whose highest earnings were in the mid $40,000s. At retirement she had accumulated well over $100,000 in her mutual fund. This was a great supplement to her retirement benefits.

5. Focus on low risk, relatively liquid assets. CDs and Savings bonds are good to consider. You will need to research interest rate trends and maturity dates in order to find the right mix for your goals.

6. Now if you are just itching to play in the stock market. Consider using a service like Sharebuilder. Research penny stocks that are expected to gain value. Sharebuilder promotes several $4 dollar stocks. Research municipalities which have a tendency to rise over the long term.

Henry: What do you think about pooling your money with family/friends to invest?

Jerilyn: I do not recommend pooling money for investment. A person’s investment strategy is very personal, usually driven by unique factors in that person’s life. Changes in a person’s life(new job, job loss, birth of a child, buying a house, etc…) can cause their individual strategy to change. Once you start pooling money, a person’s decision to change their investment strategy changes the portfolio for the entire group. In this situation a single persons actions can affect your ability to meet your investment goals.

I do advocate starting small investment clubs with family and friends. You can share and discuss information, research, new opportunities, etc…If you do decide to pool money, draw up contracts that spell out procedures and consequences for adding or withdrawing money early. It may be necessary register the group as an LLC and invest as a business entity. This way the entity controls the funds and procedural and decision making processes are filed in the articles of organization with your state, and no one person can lawfully manipulate the funds without the consensus of the managing members.

Henry: How much money do you need to start investing?

Jerilyn: You only need a couple of dollars a week to start investing. Remember that saving is the simplest form of investment. If you save $6 dollars a week for investment you will have $312 dollars to invest at the end of the year. Remember saving and investing should increase as your income increases.

For more information about Afiya products visit their website www.afiya4you.com

Throwback Interview With Spike Lee - 1995 - Clockers/Knicks/Don King

Song of Freedom - Paul Robeson Film

Great film starring Paul Robeson. We'll be posting The Emperor Jones soon.

500 Years Later - A Very Important Film

This is a film I had a chance to experience a few years back. I recently stumbled upon it again. Enjoy...

The Importance of Land (cont'd from The Seed)

In the latest article of The Seed I reported about the Pigford settlement that has yet to be paid to Black Farmers. In a recent interview with Tavis Smiley, John Boyd gives the history of the Pigford settlement and his plans for moving ahead. To understand why Boyd is so dedicated we need to understand why land is so important. It seems that we as Black people don’t understand the importance of owning land. There are over 40 million Black people in America yet only 68,000 of us own land. In his profound article “The 40-acre Crisis” Mr. William Foster lays out how land ownership is directly related to wealth, politics, school curriculum, crime and unemployment rates. Looking at our history, Black Wall Street in Tulsa, OK and Sweet Auburn in Atlanta, GA show us the potential for economic, social, and political growth when we own land.

Black Wall Street

Nneka - New Artist from Nigeria - Music with a Message

This is an artist I stumbled upon earlier this year. I downloaded one of her mixtapes and really enjoyed the mix of musical influences. Check out her videos below: The Uncomfortable Truth, Who Is Nneka?, and Heartbeat for which Nas appears on the remix. Visit her website to find out more about her: http://www.nnekaworld.com/

Video for Heartbeat




Who Is Nneka?




The Uncomfortable Truth

Guru Speaks on Hip Hop Artists Becoming Slaves To Music Labels

The internet has largely taken away an artist's need to sign with a major label. In this video one of Jay-Z's producers goes into detail about how rappers often become slaves to record companies when they sign the contracts many young talented artists yearn for.

Jay-Z Sits Down with Warren Buffett and Steve Forbes (52 min. Video)

Dope conversation between Warren Buffett, Jay-Z, and Steve Forbes. Video after the jump.

Hip Hop In The Classroom (cont'd from The Seed)

If you look at hip hop on it's face (radio, BET and MTV) it doesn't look like there is much intellect in our hip hop artists. This is not because there are no intelligent hip hop artists it has more to do with what is presented to us. If you know the history of hip hop or choose to dig a little deeper you'll soon see there are plenty intelligent hip hop artists that create complex concepts and quality songs. In my article I mentioned 9th Wonder and a few other artists. The 9th Wonder video shows the depth of hip hop, specifically Nas' classic album Illmatic. The other videos are (in order)Public Enemy's Fight The Power, OutKast's Git Up Git Out, and Goodie Mob's Beautiful Skin. Please enjoy and be sure to leave your thoughts in the comment section. Peace.

9th Wonder


Public Enemy


OutKast


Goodie Mob

Cowardice & Hypocrisy: Pastor Terry Jones Cancels Quran Burning Event

In my recent article for The Seed, I made reference to a “Pastor” Terry Jones, who had planned the infamous “International Burn a Quran Day”. He has decided to cancel this event and is now seeking to have a meeting with the Imam who is spearheading the effort to build Park51, the Islamic Cultural Center near Ground Zero. He claims that God is telling him to stop and that he has accomplished his mission of exposing the radical element in Islam. Though he made the right decision in cancelling this event, his reasons are rooted in great hypocrisy, does not represent a “change of heart” moment, and as Pastor Jones now knows, has grave consequences. There are two essential interviews of Pastor Jones that shows his hypocrisy. The first is a CNN interview with Rick Sanchez and his interview on the Today Show on September 11. In the CNN interview Pastor Jones declares that “Islam is of The Devil”(which is the title of is new book) and that “there is no such thing as a moderate Islam”. However, is his second interview he says he wanted “to expose that there is an element of Islam that is very dangerous and very radical". So, Pastor Jones went from denouncing the entire religion to saying that there are only “elements of Islam” that are radical. In the CNN interview Pastor Jones said that “there are moderate Muslims” so Pastor Jones already knew this, but that didn’t stop him, so this could not have been his inspiration for canceling this event. What really happened is he over estimated the level of disdain for Islam as well as, the backlash from the Islamic and Christian communities and folded under the pressure.

In the Today Show interview, Pastor Jones was joined by his assistant pastor Wayne Sapp. Mr. Sapp added an interesting point of view, which represents the quintessence of their hypocrisy. Mr. Sapp states that “I believe there are some teachings that are carried on throughout the entire religion, as there in denominations in Christianity… there are facets in Islam that push one element more than others”. This is interesting because though he admits that there are elements within his own religion that are radical, they choose to focus their reformation efforts on Islam. In the bible (Matthew 7:5) Jesus states: "Hypocrite! First remove the plank from your own eye, and then you will see clearly to remove the speck from your brother's eye.” This is a quote from the man that is the foundation of Pastor Jones’ and Mr. Sapp’s faith, so how can they try to reform Islam while ignoring the radical elements within their own religion? Let’s just say they were trying to reform Christianity; would they take the same course of action that they are taking with regard of Islam? Would they burn The Bible, would they write a book called Christianity is of The Devil or put a sign in front of their church saying the same thing? I highly doubt it. As the quote from Jesus implies, if they were trying to reform their own religion, they would know that the course that they are taking is very detrimental to all sides. In the final analysis, Pastor Jones and company didn’t cancel this event, because “God told them to stop”, he did it because he saw his plan backfire. With criticism from General David Patraeus saying that it “could endanger troops and it could endanger the overall effort in Afghanistan” and the backlash he is now seeing that includes “over 100 death threats” this is only an act of great hypocrisy and cowardice.

Tavis Smiley Reports

Tavis Smiley Reports is a series that began in January of this year. It includes four 1-hour long reports from Tavis Smiley where he goes sort of behind the scenes to give us a more in-depth look on issues both past and present. The first report is posted below. I also enjoyed the two other reports that have been released so far MLK: A Call To Conscience and New Orleans: Been In The Storm Too Long. Check out the episodes and let us know what you think.

Tracy McGrady's Visit to Africa

This is a video we came across a few months ago. Thought it'd be a good idea to share it here on The Exchange. Enjoy.

Websites for Young Entrepreneurs

During a recent interview with the founders of Afiya LLC, I asked them what resources they found for small businesses; the answer was prayer, family and friends. I understand their feelings; owning a small business, especially for young people, can sometimes seem like you’re the lone ranger fighting your way to success. Upon hearing this answer I looked around to see what I could find online. Recently I read an online article on Black Enterprise highlighting websites specifically for entrepreneurs under 30. I decided to take a look at these websites to see if they were indeed useful. These sites all have unique features that range from interviews from with entrepreneurs under 30 years of age, to providing money for start ups. So, if you’re thinking about starting a business or you’re already a business owner and are looking for resources to help you along the way; you will find at least one of these websites helpful. Peace.

Straight, No Chaser Mixtape: Volume 2

Listen to the new mixtape for free:

2 Pens & Lint Chapbook Publishing

Wouldn’t it be nice to sell your own collection of poetry when you step off the stage at an open mic? Wouldn’t it be nice to see a set of your poems in print? Well, publishing a chapbook through 2 Pens & Lint would be a great way to achieve that goal of pushing your poetry career to the next level.

The Good Shepherd

Black museums are the final front in the battle for the preservation of our history. There has been a constant effort to erase or cover our contributions to civilization.

 Philanthropists and Historians play a part in this effort. Curriculum in public schools has never been a place where our history can be explored in depth. Thus making Black museums the only institution that will present our story with omissions and distortions. If we don’t support these institutions we stand to lose the last resource that is dedicated to the preservation of history. If that happens we will in effect relegate our children and the children of other races to the distorted and pure falsehoods and, in effect disconnect them from their historical blueprint for how to succeed.

Malcolm X: The Full Scope

This November Manning Marable will release Malcolm X: A Life of Reinvention. This book has been in the works for over 15 years. Below is video from an interview with Manning Mararble from 2005 when he discusses amongst other things, the three missing chapters of Alex Haley's Autobiography of Malcolm X.

Straight, No Chaser Mixtape: Volume 2 - Now Available

Straight, No Chaser Mixtape: Volume 2

Download & Listen for Free

http://www.christopherkp.bandcamp.com/

NEWBO's: The Rise of America's New Black Overclass

I watch a lot of documentaries and biographies on Hulu since I don't own a TV (and don't really plan to soon). I figured I'd begin posting some of the better ones here on the blog. This is one I watched a few weeks ago. I think it's inspirational for any young African American looking to move into business or honestly, any type of professional career. We always see bad examples of our people but this highlights numerous African-American MALES who are making moves. Check it out. Let us know what you think. Peace.

Not So Fast Professor Gates - by Henry Duncan

Reparations has been debated since the 1800’s. Yet the 40 acres and a mule has never been delivered. For some reason, Professor Henry Louis Gates has taken on this issue in his op-ed article in the New York Times entitled Ending The Slavery Blame Game. In this article, Prof. Gates argues that, since African monarchs sold their slaves to Europeans, that Europe
and Africa share responsibility for slavery. Obviously this claim has sparked much controversy. You can start with the letters in response to the article. Eric Foner, a professor of history at Columbia University, who states that “reparations are unworkable” does refute a point that Gates presents in his article.

In the article, Gates states:
Advocates of reparations for the descendants of those slaves generally ignore this untidy problem of the significant role that Africans played in the trade, choosing to believe the romanticized version that our ancestors were all kidnapped unawares by evil white men, like Kunta Kinte was in “Roots.” The truth, however, is much more complex: slavery was a business, highly organized and lucrative for European buyers and African sellers alike.

1 of 30 (National Poetry Month)

1 of 30. You give the title/subject and I'll write the poem. This is for Nicholas who told me to write on: Hunger.



Ain't nothing lighthearted about K dot P dot
so please see me not
with them LOL's and LMAO's
we out for them pesos
won't be spending mine on no yeyo
or no Jose Cuervo
probably cop some rice, that new Badu
and some lit writ by Plato
do my part for my compadres
hustle hard on holidays

Africa Is The Future: Part 2 (Continued from The Seed)

I often think about what other countries think about the images they see of Black people in the media. I'm always most concerned with how this image is taken by our brothers and sisters in Africa. Just as Blacks are given a false image of Africa, I think Africans are given a false image of Black people. Just as a European or Asian may look at Blacks with a sense of disgust, I think this is true for some Africans also. This sense of disgust helps contribute to a disconnect that already exists between the two cultures due to the the negative images many Blacks hold towards Africans.

The Historical Significance of Haiti

We all know of the recent earthquake that has devastated the country of Haiti. I don’t know if you have donated your money or time to help in the relief efforts, but in the spirit of Black history month I thought you should know about the historical significance of Haiti. Haiti is the only country in the world to gain it’s independence as a result of a slave revolt. From the early small rebellions lead by the likes of Dutty Boukman in 1780 that lead to the larger and successful revolt lead by Toussaint L'Ouverture and finished by Jean-Jacques Dessalines. The slave revolts in Haiti inspired many of the slave revolts in America such as the revolt led by Nat Turner. The link between the Black people in the United States and the people of Haiti is undeniable. Their ancestors are the same as ours. The only difference between us and them is our former slave masters. Our slave masters spoke english so we spoke english and have english names. Their slave masters spoke French so they speak French and have French names. So make no mistake, those are literally our brothers and sisters dying down there. Keep that in mind as you consider making your charitable contributions.

Were We Expecting Too Much? A year for the Black President

I remember how excited the Black community was a year ago when Barack Obama was elected president of the United States. True, it was a historic moment when you consider the racial history of America. True, he's a much better president than Bush but I can't help but notice that Black people lately aren't rooting for President Obama as much as we were before he was elected. Has he let us down? Were we expecting too much? Was it all just hype?


Many of the problems in the African American community are issues that must be dealt with on the ground level. I remember last year when Obama stated that he can reform the education system but he can't wake up and take our children to school. However, when Obama was elected we acted as if all of our problems had been solved. We acted as if he was Superman and that he'd fix every problem in the African American community.