DISQUS

Big ups!

Preciate the comments. There is a lot of conscious folks out there, glad YBP is working to bring us together.

Hmm. Might have to investigate this opportunity. Looks interesting....

What's even worse than these "pigs" actions are the comments from readers across America after the article that imply implicitly and explicitly that these cats deserved what they got. Described as "thugs" "gangstas" "hoodlums" people seem to feel these young brothas needed that ass kickin they got.
And they wonder why black men got chips on they shoulders.

Good post. You do have to wonder what they hell they were thinking, but I have made so many not so great decisions in my life that I can't knock them. I guess I just got lucky or more than likely it was the grace of God that prevented something catastrophic happening to me.

Good info. If you don't mind I'd like to reference this web address on my site. Thanks.

Jmac--the link was messed up so I could not read the article. As with every investment each individual or club in Lionel's case has to make sure it fits them. Not telling anyone What to do but just providing info...

I've always thought that Bush was crazy like a fox. This is like some new age, gentrification on steroids type of ish. First destroy a continent with colonialism which leads to civil war which leads to abject poverty which leads to high HIV/AIDS rates. Then come back in and invest at Dirt Cheap prices.
Dont let Dubya fool ya he's a wolf in an idiots clothing.

Good advice and good article.

Amen. BTW RIP Pimp C. I know he probably wasnt the embodiment of YBP, but damn I loved UGK!

BTW again--Fredric I just figured out who you were. I kept looking and looking at your picture and I finally spoke with a mutual acquaintance who told me you were Frat from St.Louis. I came thru ZA in Columbia. Hope all is well.

This is interesting stuff. I would love to see Barack in 08 but it looks very doubtful. He would bring a fresh perspective to government, too bad America isn't ready for that. (sigh...)

Once again, I'm not saying that being wealthy is a bad thing. I run a website that promotes that very concept... I'm just asking how much is too much...Could you help one extra family or one more organization if you didn't have that $350k car? Just asking. And you are right about King David, but what about Paul or any of the first Christians? By all acounts they were NOT Ballin and faced hardships their entire existence(If you doubt this just read the New Testament, these cats had it rough) What prosperity preachers "sell" folks on is that EVERYONE is gonna be prosperous that believes in what they say, which is just not true. God's will varies in each individuals life. I can die penniless, but I may have carried out God's will for my life. When God speaks about abundance he means HIS definition of abundance not ours.

On your note about perception, I disagree. Our role as Christians is to be outward examples of God's light. If we are supposed to set ourselves from the world by our actions, how can we so freely take in what the world defines as bounty? We should be preaching to the world about what God's love, grace and peace can do for your inside man vs. how many things God can provide you with....in my opinion

I also read and heard about the investigations. Here's my take. Since writing the "Does God Care".. article I've thought some about prosperity preaching, the meaning of money, etc. My take is this, the Bible admonishes us to be content in what ever our situation is...not that we shouldn't be striving for more but always realizing how blessed we currenlty are. I don't have a problem with various "prosperity" ministries bringing in millions upon millions I just want to know that those dollars are going to those that need them. The question that then arises is Do Creflo, Joel, etc. NEED mansions, Bentleys, and 20K toilets??

My biggest problem with prosperity minisitries is perception...Perception from the secular world. In my humble opinion these ministers come off in a bad light because they are living such extravagant lifestyles and this turns many non-believers off.

Lastly, you can't compare big business or any business to that of a non profit. Businesses exist SOLELY to enhance the investments of the owners. So that's why CEO's get paid so much. I'm no Bible wizard but I'm pretty sure preachers don't OWN the churches---they belong to God.

i am very envious of you Fredric. My goals is to jump off the corporate ladder in 6 months or so and focus 100% on growing my business.I figure if I dont do it now it will never happen. in the grand scheme of things it's riskier for me to stay where I am now then to be completely happy doin my own thing.

For the 2Pac lovers out there i submit The Above the Rim Soundtrack and the Poetic Justice soundtrack.

Just a point of clarification. You DO have to worry about how much you take out of your I.R.A. The only tax-free, penalty dollars that you can take out are your own contribution dollars. In earnings in the account will be taxed and penalized if taken out early unless the withdrawel is exempted.

I think the point everyone is missing is this. When you retire and take out money it is taxed as income--just like if you were working. The difference is that you get taxed on the amount you take out for that year. For example: I may have $500,000 in my retirement account when I turn 60. If I take out $50,ooo to pay my expenses for the year then I am taxed on that $50,000 not on the $500,000 in my account. So the $50,000 you take out for that year determines your tax bracket. NOT the $500,000 in your retirement account. Ya dig?

I'm not so sure I agree with anything you wrote. The problem with not contributing to a tax-deferred retirement plan is twofold. First contributing to a tax-deferred retirement plan lowers your current taxable income(which you acknowledged) secondly and probably more importantly is that if you put the money into a regular taxable account you would have to pay taxes on the growth of those dollars every year. So you get the double tax whammy. Also without forced savings, most people would not contribute at all. Our national savings rate is already negative and we ALL know that social security probably won't be there for us. Advising people to not contribute to a retirement plan is just bad, bad, bad. I'm not even sure what you were talking about when it comes to the 30 percent fees??

Just to be clear, I am not knocking TD, Osteen, Warren or even Creflo. I definitely respect what they do and if any body should be getting paid, it's a man of God. This was just an exercise of my own fluctuating feelings regarding prosperity and spirituality. For all of us we get bombarded with commercial images(3000 per day) so its tough sometimes to see what really matters in life. If you're bored, there's a piece on my site that speaks directly to America's overconsumption. http://www.urbanmoneyonline.com/folam.html

I'm really digging the dialogue. I still have questions but I think Phillipians 4:11-12 satisfies me...for now anyway.

Big ups for the pic of the Men of Black and Old Gold!

I rocked the all black suit, with the all black shirt and tie. I thought about wearing my black leather gloves also, but its still kinda warm out!

"Pro Black--I won't pick cotton out of an aspirin bottle" --Nas

It's the premise that you learn by doing. You don't have to be Ben Bernanke or Warren Buffett to be a good investor, as a matter of fact you probably know more than you think right now. A good portion of picking investments is common sense. Investment clubs give the opportunity to discuss investments rationally and deliberately. Most investors fail because they buy and sell with emotion. Investing is a process based on fundamentals and information--larger groups can (usually) see past the noise and ask the tough questions.

ETS -- The beauty of investment clubs is that you don't have to have a lot of investment knowledge. That's actually the best by product of joining/starting one. Props on finding an advisor you trust but its always good to know a little bit about the game you are playing.

A couple of thoughts on this.
While I am not a fan of Hedge Funds for investors--I definitely think they hold great opportunities for careers. Where else can you go and make $300k/per a year at 28? Let's say that in the worse case scenario you flame out after a couple of years-----so what, youv'e just banked several hundred thousand which puts you in the top 10 percent of American. We definitely need to have more representation in this area as blacks. Believe me if I were smart enuf to do it, that's exactly where I would be. One thing to keep in mind is that these hedge funds are looking for the cream of the crop talent--specifically in math and science from top tier schools. If you fit that bill--then GO GET PAID.