Thursday, October 4, 2007

W.E.B. DuBois on Prosperity

"During his economics class at Atlanta University — now Clark Atlanta University — the scholar and educator W.E.B. DuBois was asked by an inquisitive student for the quickest and surest way to prosperity. "What I am about to share," Dr. DuBois replied, "you would do well to write on your heart and place in your purse. Many a ruined man dates his downfall from the moment he began buying what he did not need. If you are in debt, part of you belongs to your creditor. To whom you give your money, you give your power."

"More than a half-century later, DuBois' words still resonate." As referenced in the Atlanta Journal-Constitution, by Professor Dennis Kimbro, a professor at the Clark Atlanta University School of Business Administration, "nothing deserves [our] attention more than education, entrepreneurship and wealth creation. . . . In the same vein of W.E.B. DuBois who admonished his young student more than 60 years ago to take control of his financial destiny, black America can trace its economic future, in part, to how well we arm the next generation of business leaders — whether corporate climbers or entrepreneurs — with the skills, tools and mental toughness to compete in a highly competitive global marketplace. DuBois suggested — and I concur — that education is the most powerful force on earth."

As Professor Kimbro mentioned, many of us lack the savings needed to sustain ourselves in later years. I am single with no kids and I am one of those people who bought many things that I just had to have, many of which I did not need. Consequently, I have not adequately saved to prepare for my retirement. It's time for Plan B. With that said, this blog will be my creative outlet to educate myself and others about money, saving, investing, entrepreneurship and unconventional ways to get ahead in addition to, or in lieu of trading hours for dollars for 40+ years. I know it is possible for me to Start Late and Finish Rich. Better yet, I know I can Start Now and Finish Rich. Join me in my quest to live to my potential.

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