This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
The Wealth Choice By Dennis Kimbro
I’m not going to dig into all the stats, which you can find in the book, but I will belabor a few of the topics discussed in the book that still resonate with me today.
Black kids watch more television than other kids.
Historical statistics show that black kids watch more television than white kids.
Furthermore, black kids have lower literacy rates than other races and fall on the bottom of the scale.
One of my favorite sayings is: The more you learn, the more you earn.
Black people are infamously known to suffer economically more than many other racial groups; this is directly linked to their lack of knowledge.
The more you know, the better you can do financially and in many other areas of life; this isn’t opinion.
Look at Asian and White Americans – both do better than African Americans economically; what is the common denominator for their success?
Access and education, both of which African Americans lag in.
Black people are typically underpaid due to a lack of self-value.
As I’ve learned several times over in the tech world, many African Americans are paid significantly less than other racial groups, primarily due to lack of confidence, lack of self-value, and lack of knowledge.
A white man is more likely to negotiate his salary.
A black person is more likely to accept the first offer.
Time and time again, I’ve had to remind, teach, and inform minority mentees (who I help career-wise) that if they don’t develop confidence and self-value, they will be significantly underpaid throughout their careers.
Black people invest less than other racial groups.
People who invest their money and put it to work understand the fundamental power of compound interest.
People who fear investing have a lack mentality and will never experience wealth.
To grow your money, you must put it to work, or it will slowly decrease in value due to inflation.
Self-education is underrated
I used to have a goal to read one book a week. Now I’m hovering sometimes up to 14 books a week.
There is no greater power one can obtain than from exposing themselves to information.
With knowledge comes infinite potential power.
If more African Americans spent more time reading books versus scrolling social media, watching television, or surfing the internet, we’d be doing better as a racial group.
Always Think Bigger
Many people were upset that Robert L. Johnson sold BET to Viacom in 2001.
Many thought, “Why not keep it a black-owned business?” But Robert sought significance and desired to expand his financial footprint.
Thinking about yourself or your sole community can limit your financial opportunities.
Due to the sale of BET, Robert L. Johnson became the first black billionaire; though he lost most of his wealth to a costly divorce, he will never lose this honor of the gigantic step he took to show what is possible for African Americans.
Black People Be Broke AF
12 Steps Black People Need to Execute W/ Their Money
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.