Friday, October 3, 2014

African American Celebrities From Fame to Fortune to Broke

Interesting documentary Video Titled:
"When the Checks Stop Coming In
This film takes a look and analysis of the lives of black celebrities' rise to fame, fall from fame, and finally, Just plain broke! :( 

It's available on Amazon.com


Many of us never learned Financial Literacy as children and adolescents. Many of our parents did the best they could with the energy they had, and taught about savings, sharing, and household budgeting (to some degree). Really, for me, growing up in the hood, I never really heard a lot of financial discussions on stocks, bonds, mutual funds, retirement savings, 401 K's, etc. My mother did teach and modeled for me how to open a bank account and fill out the forms, how to pay bills, how to talk to authority or professional people in the business district, how to advocate for myself and so on but because we struggled as well with low income (never went hungry to my knowledge-but I'm sure there were days that we (my siblings and I) didn't know how close to being without we were. 

Like many people say, "We might have been poor but didn't know it." I understand that in the midst of struggling and survival, and relationship and financial burdens, communication on being smart with your money, investments and retirement, get's lost because the focus (being consumed) with trying to make one day at a time. 

Now what happens when many of us who've never had a lot of money or made no more than $7,000 to even 60 or $70,000 annually (because we don't bring this whole amount home-thus the reason why even the "Middle Class struggles") come into major financial wealth? We may even get a out of control (meaning crazy, senseless, confused and/or stupid even-meaning wasteful and negligent) with fortune or fame, and because of ignorance-(lack of knowledge) like many of these celebrities. The best way out of these scenarios is "Education" by (attending seminars, classes, getting mentored, etc.), and "Renewing the Mind" (changing the way we think which changes thoughts and feelings).