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5 Ways Black Parents Can Get Financially Empowered This Juneteenth

June 5, 2021

June 5, 2021

On June 19th, 2021, millions of Americans will come together to honor a key piece of American history; Juneteenth — the emancipation of those who had been enslaved in the United States.

“Understand the history” says Alfred Nickson, “but utilize this date to empower yourself financially and personally, as empowerment is what this day is all about.” says Nickson, who went from welfare to millionaire by age 25 (all on his own)! The 28-year-old was recently featured this month in Entrepreneur, Entrepreneur en Español, Black Enterprise, Face 2 Face Africa and Power Broker Magazine.


“Understand the history” says Alfred Nickson, “but utilize this date to empower yourself financially and personally, as empowerment is what this day is all about!”


take baby steps to Empower yourself

As the youngest person ever inducted into the Network Marketing Hall of Fame, Nickson offers “5 Ways Black Parents Can Get Financially Empowered This Juneteenth. Nickson has coached and empowered over 30,000 in the Financial Literacy space, with over 100 documented six-to-seven figure earners in his organization.

Alfred Nickson, Financial Literacy

Author

Alfred Nickson

Nickson has dedicated his career to widespread Financial Literacy through public speaking, coaching, volunteering and activism— empowering as many people as he can to build financial wealth, and keep it!


On June 19th, 2021, millions of Americans will come together to honor a key piece of American history; Juneteenth — the emancipation of those who had been enslaved in the United States.

1. Sign Up For Life Insurance

Who needs a life insurance policy? Everyone. Choose between whole life or term life insurance (30 years from the day you start). Term life has more value and generally costs less monthly. Both will give your loved ones up to millions of dollars when you die, creating generational wealth.

2. Make A List of Assets

Create a list of everything you own, (this can be tangible items like a vehicle or jewelry to stocks, bonds or life insurance policies). Even one pair of gold earrings can be added to your assets, and is better than no assets at all.

3. Get a Will And Trust

Who needs one? Everyone, especially if you have children. Contrary to what you might think, a will and trust doesn’t have to cost thousands of dollars. You can use a law-firm to stamp them for as little as $500 [or use a free service like RocketLawyer.com.] Make sure to name beneficiaries on who will receive assets upon your death (loved ones, charities).

4. Start A Hustle

I recommend any home based business, the infrastructure is already there and anyone can start making money right away. It’s inexpensive to start (typically a few hundred dollars to kick off — use your stimulus check!).

5. Save, Save, Save

Regardless of what you make, put 10% of your income into a high-yield savings account. (5% can be short-term savings for a car, new home, school supplies, etc. The remaining 5% can be for long term or 401K).

CONTRIBUTOR


Alfred Nickson

Author

From welfare to millionaire, 28-year-old Alfred Nickson found his success as a network marketer. But, that success didn’t come easy. Nickson had all odds against him, growing up in one of inner city Miami’s poorest neighborhoods. At 19, he began his entrepreneurial journey, with a deep hunger to make life better for himself and the African American community. Within three short years, he was a six-figure earner before building his own brand of nearly 100,000 subscribers. Today, he is the youngest person ever inducted into the Network Marketing Hall of Fame, mentoring over 100 documented six-to-seven figure earners. In 2018, the keynote speaker created the Millionaire Mindset Conference, which took place in Los Angeles to a sold out crowd of 800+ guests. His expertise lies in building financial confidence, including credit repair, wills and trusts, credit litigation, and financial planning. Nickson has been both rich and poor, which is why he has dedicated his career to widespread financial literacy through public speaking, coaching, volunteering and activism, empowering as many people as he can to build financial wealth, and keep it.

Nickson was recently featured in Entrepreneur, Entrepreneur en Español, Black Enterprise Network, Face 2 Face Africa, WGN Chicago, FOX40 Sacramento, Biz TV, KYW Philadelphia, and the Black Information Network, to name a few.

 Miami, USA

Financial Education Services


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