ORLANDO, Fla. – This week on “Black Men Sundays,” it’s a throwback to Season 5 when host Corie Murray interviewed Jamil Frazier, an entrepreneur who’s founded more companies than most people have probably ever worked for.
“For me, it was always a dream, I always wanted to be in a position where I could give back,” Frazier said, discussing his motivation for creating scholarships, something stemming from his own experiences growing up.
He emphasized the importance of partnering with local schools and communities to establish scholarship funds, encouraging listeners to find out what they’re passionate about so they can start connecting with leaders in those fields.
But building wealth isn’t as easy as just meeting new people and making connections, however fruitful they may be.
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Frazier stressed the importance of saving and investing on top of all that networking. The key, he says, is ensuring you invest consistently, regardless of the amount.
“If you have some sort of income coming in, take 10% of that and start putting it away to save. Take another 10% of that and put it away so that you can invest, and my philosophy — what I teach my students and what I teach my kids — it’s that last 10%, put it away so that you can give it away, so you can tithe or give it away in the form of scholarships. Live off of 70% of your income,” he said, encouraging listeners to invest in various vehicles such as real estate, the stock market and private equity, adding, “All of them work.”
Hear the interview and more in Season 6, Episode 8 of “Black Men Sundays.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.
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