Today I Launched My Campaign—Imperfectly, But Right on Time

Today, I officially launched my campaign to donate 50,000 Generational Wealth Kits to HBCU Day 1 Students and Alumni across the country.

The truth is—I’ve been dreaming about this campaign since February. I’ve been carrying it in my heart, mapping out every detail in my mind. I created a list of nearly 100 people who said they’d support on Day 1. I imagined the momentum, the press, the ripple effect—how we might even go viral and inspire 50,000 people over time to help ensure that HBCU students and graduates get access to the wealth-building tools we were never taught.

But life rarely unfolds the way we plan.

I was supposed to have a full video rollout. A series of polished posts. A step-by-step launch strategy. Instead, life got in the way—as it often does. And despite everything that didn’t go as planned, I showed up anyway.

Because May 7th wasn’t just any day—it was launch day. And I held myself accountable to that.

So no, the launch wasn’t perfect. But it was perfecting. It reminded me that this campaign isn’t about perfection—it’s about purpose, and persistence.

As my night comes to an end, we didn’t reach 100 donors—but we did reach four amazing ones. And those three are helping us donate 15 Generational Wealth Kits. It’s not 100. But it’s not 0. And for that, I am deeply thankful.

I’m building something for us. For our future. For Black and Brown students who deserve more than debt after graduation. Who deserve tools, support, and knowledge to build wealth—not just survive.

So here we go. We’ve launched. Not perfectly, but powerfully.

Let’s get these kits into the hands of 50,000 students and alums. Let’s make generational wealth a reality, one kit at a time.

If you’re with me, please consider being one of the first to donate, share, and spread the word. This is just the beginning.

Day 1 Photo

Ruby SunShine Taylor, founder of Financial Joy School, launching the HBCU Wealth Journey to donate 50,000 Generational Wealth Kits.

With gratitude and purpose,
Ruby SunShine Taylor
Founder & CEO, Financial Joy School

CLICK HERE

https://www.gofundme.com/f/generational-wealth-for-all-empower-50000-families

The post DAY 1 OF The HBCU Wealth Journey: A Campaign to Build Generational Wealth, One Student and Alum at a Time appeared first on Financial Joy School.

Inflation Reduction Act

on Small Businesses

The Inflation Reduction Act of 2022 was signed into law by President Joe Biden on August 16, 2022, making historic moves towards helping everyday Americans fight against inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40% by 2030. Let’s take a look at what specifically will help small businesses.

What is the Inflation Reduction Act About?

Looking closely at the Inflation Reduction Act, it is aimed to make life easier for small business owners. First, there’s the goal of preserving critical support for small business health care costs. This Act would preserve the American Rescue Plan premium tax credit support for the Affordable Care Act (ACA) plans by extending them through 2025. Based on 2021 tax data, the ACA Marketplace is a source of coverage for 2.6 million small business owners and self-employed adults—small business owners and self-employed people make up 25% of Marketplace enrollment. Since the implementation of the ACA, the uninsured rate dropped from a staggering 30% in 2013 to a much-improved 20.5% in 2019.

The Inflation Reduction Act includes a number of provisions that save small business owners on energy costs, including a tax credit that covers up to 30% of switching over to low-cost solar power. This lowers operating costs and helps protect against volatile energy prices that are squeezing small business owners. Small businesses with a building can receive a tax credit up to $5 per square foot to support energy-efficient improvements that deliver lower utility bills. Small businesses that use large vehicles (like trucks or vans) will reap the benefits of tax credits covering 30% of purchase costs for clean commercial vehicles, such as electric and fuel cell models.

The focus on mitigating energy costs not only helps support small business owners, it also helps combat the climate crisis by focusing on energy-efficient and environmentally friendly usage.

How does the Inflation Reduction Act impact my small business?

So, how do this impact you? 

The Inflation Reduction Act aims to double the Research and Development (R&D) tax credit for small businesses. Pre-revenue startups create jobs and support economic growth through research, discovery, and innovation. This bill aims to level the playing field and will help spur high-impact R&D by increasing refundable research and development tax credit for small businesses from $250,000 to $500,000. Starting in 2023, small businesses may use the credit to further reduce payroll taxes and several other business expenses by up to $500,000 annually, so they can do what they do best: innovate to solve global problems and create jobs nationwide that propel economic growth.

They also boost American manufacturing and competitiveness by opening opportunities for small businesses, spurring on U.S. supply chains which include green technologies like solar, wind, carbon capture, and clean hydrogen. This legislation includes specific tax incentives aimed towards manufacturing materials sourced from the U.S., like batteries, solar, and wind turbines.

It all boils down to greater economic growth for small businesses on a nationwide scale, thus allowing small businesses to get greater tax credits and feed that money back into their business ventures, supporting employees and employers alike.

What now?

If you’re left wondering what to do or how to utilize the Inflation Reduction Act, you can look at the White House website for specifics on the Act, including this page that sources more information about the aid it provides to small business owners. No family or small business making less than $400,000 per year will see taxes go up by a single cent—that is what this Act helps to ensure for average Americans.

To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.

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As a new, budding, or seasoned investor, you might have heard of a REIT. You might even be interested to invest in one. But do you know what they are? Let’s take a look at this seemingly mysterious investment and see if it’s right for you.

Real Estate Investment Trusts

REIT stands for real estate investment trusts. These companies either finance or own real estate that produces income throughout several various property sectors. Companies that deal with real estate must meet the list of standards needed to be considered REITs through certain qualifying requirements. Major stock exchanges do trade most REITs, and these trusts offer several perks to the investors who own them.

If you’re interested in the real estate market, investing in REITs is the way to go. These investments can be added to your portfolio just as you add your other industry investments via mutual funds, ETFs, or individual company stocks. Rather than going out to buy your own real estate to make money, investing in a REIT allows you to earn a share of real estate income by becoming a stockholder instead of a property owner. REITs are prevalent investments for about 150 million Americans through their IRAs, 401(k), pensions, or other means of investments.

What Investments Are in REITs?

Real estate investment trusts hold several types of property, including hotels, medical facilities, offices, apartment buildings, data centers, cell towers, retail centers, warehouses, and various infrastructure. When investing in REITs, you’ll find several focus on certain types of properties, however their portfolios hold varying kinds of real estate.

REITs make money by collecting rent on their real estate properties through leasing the space. With this income, the company pays dividends to its shareholders. Of their taxable income, about 90% of it must be paid to these shareholders, yet most REITs end up paying 100% of their income. The shareholders, then, end up paying income tax on their dividends.  

Are REITs a Good Investment?

REITs are indeed a good investment. Their payouts have been consistent historically, by delivering total returns that are competitive. This is determined by high and solid income through dividends over the long term with capital appreciation. If you want to diversify your portfolio, REITs are the way to go, as they have a low correlation when compared to other assets. Ultimately, they reduce your risk while subsequently increasing your returns. Both of these are very good things. 

Over the past 45 years, REITs have provided proven dividends that grow and are reliable. When coupled with long-term capital appreciation through increasing stock prices, REITs have become quite the attraction for investors through return performance when compared to the rest of the stock market, bonds, and the like. 

It definitely pays to invest in REITs and if you’re thinking about it, go ahead and dip your toe into the real estate market. These investments have proven themselves to be excellent contenders for building generational wealth.

To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.

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With inflation on the rise and prices going up all over the country, there is talk in the news about a coming recession. But what is a recession? The term refers to economics and indicates a gradual decline in the business cycle. When spending drops, such as when prices soar during inflation, the economy goes into a recession. Money isn’t circulating as it should as people and families struggle to keep every coin close. What does a recession mean for you and your family? Let’s take a look.

Recession Hits Everyone

A recession is nationwide, therefore it is not a mere inconvenience of high prices that hits a family trying to make ends meet. Businesses and stocks are affected as well. Jobs are cut back, finding employment is slim, and if you are already employed, chances are you won’t be getting a raise or a promotion any time soon. Even though prices are climbing everywhere you look, businesses don’t have the funds to compensate their workers, which means you might struggle all the more with paychecks that cannot keep up with the rising cost of living.

As for stocks, a recession could make their prices fall dramatically. Their prices might also wildly fluctuate as investors seek to buy and trade where there is the slightest sign of good news. While the stock market is unpredictable during a recession, never fear. Investing is played out over many long years, not this small snapshot of time. It is always best to seek solid and steadfast companies whose stocks won’t budge regardless of market performance. Yet even so, you might lose money with your investments. Keep the faith, however, as the economy will eventually turn and you’ll be on the right track once again.

How Does the Economy Recover?

What are some of the ways the economy might recover from a recession? The government might increase their spending while decreasing taxes or cut back on placing more money in circulation. The plan is to make the dollar stretch farther which then causes prices to fall to more manageable levels. Sometimes stimulus checks are issued which act like a defibrillator for the failing economy. If more families have more money, the idea is they’ll spend more and thus get the economy moving again. But stimulus checks could backfire if families and individuals save them or hold off on getting a new job because of them.

Providing workers with new jobs and new job opportunities is one of the classic ways to pull a country out of a recession, yet if stimulus checks continue to be issued and unemployment checks are boosted to compensate for inflation, there’s not a lot of incentive for workers to head back to work, which could make things worse, not better. 

All in all, it takes a few months for an economy to pull itself out of a recession. Sometimes longer if it’s a deep one. With more money in circulation, prices for goods and services soar sky high which brings on inflation, and eventually, recession. Times will be tough, of that there is no doubt. However, if you’re smart with your money, you’ll survive to thrive.

To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.

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for Black Families

It doesn’t matter if you’re new to the investing world or a seasoned pro, chances are you’ve heard of ETFs. What are they? ETFs, or exchange-traded funds, are like mutual funds, but are more flexible when it comes to trading. Like mutual funds, their stocks are diversified, however, you do not need to choose individual stocks. Unlike mutual funds, ETFs can be traded throughout the day whenever the stock market is open and they generally have lower fees, including commission-free trading. This makes ETFs more fluid than mutual funds and with less risk than individual stocks. All these factors come together to make ETFs incredibly attractive to investors. Let’s take a look at the best places to purchase them.

Charles Schwab

Charles Schwab is a favorite for purchasing ETFs due to their zero-commission rate on trading, not only on their own offered ETFs, but also across the board with all ETFs you may own. Charles Schwab also loves to educate their investors and has various resources to do so, including information on performance over time and any applicable fees. This allows you to make your best informed decision when you’re ready to make your purchase.

Fidelity

This list wouldn’t be complete without Fidelity, the investment titan in mutual funds, ETFs, and retirement funds. Fidelity offers no commission on any ETFs available for investors, which makes them as attractive as Charles Schwab. An advantage they have is their search tool for ETFs, sorting them according to the criteria you might wish to purchase. This criteria might be expense ratio, company size, or fund size. You’ll also be able to track your portfolio from Fidelity’s mobile app, which allows you to trade your ETFs on the go. 

TD Ameritrade

Another investing giant on our list is TD Ameritrade, who also offers their ETFs at a zero commission rate. TD Ameritrade, however, does not require a minimum balance. This brokerage offers an ETF screener tool which allows you to search for funds that might match your existing portfolio, or meet with your investment goals. It is of note, however, to mention that TD Ameritrade has been purchased by Charles Schwab. Their funds will roll over into Charles Schwab at some point in 2023 so now’s the time to purchase.

Vanguard

It’s no surprise that Vanguard is also on our list. This brokerage is well-known and well-loved throughout the investment community and also offers ETFs at no trading cost on their platform. One of the biggest perks of Vanguard is they allow you to compare ETFs with each other regarding passive or active management style, expense ratios, and much more. They also offer planning tools to help you get your portfolio in tip-top shape. 

Ally Invest

Ally Invest is an excellent choice for ETFs if you already do your banking through Ally Bank. This allows for easy and efficient trading and connects your portfolio with your bank account. They also offer zero commission ETFs and allow you to screen them for various interests you might have, such as ETFs in the tech industry, sustainable ETFs, or currency ETFs. There is no fee to open a brokerage account through Ally Invest.

These five companies are a sure bet when looking into purchasing ETFs and will help you to be well on your way to financial freedom.

To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.

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For the past few weeks, we’ve been diving into mutual funds and have presented our choices for some of the best ones if you’re thinking about investing in them. Now we’re discussing a new tool offered by Wells Fargo, their Intuitive Investor. The Intuitive Investor is an automated investment program offered by Wells Fargo that offers a portfolio option catered just for you. Let’s learn more about Wells Fargo’s Intuitive Investor and see if this is the right investment path for you.

Wells Fargo Intuitive Investor

What is the Intuitive Investor? Simply put, it is an automated investment program offered by Wells Fargo that uses algorithms to take a peek at any risk factors in your profile and, using that information, then offers a portfolio option catered just for you. This takes the guesswork out of choosing options for your own portfolio. First-time investors will find this tool extremely easy to use, and seasoned investors will love its simplicity.

The algorithms then continue to keep watch over your investments and make any changes as needed to more fully meet your investment goals. One of the great draws to the Intuitive Investor is that it also has a mobile app, so you’ll be able to keep track of your investments on any device, at home or on the go.

Investment Calculator

Before you invest, Wells Fargo has offered an investment calculator directly on the Intuitive Investor webpage. By using this calculator, you can see at a glance what your investments might look like in twenty years’ time, including a poor market, a middle-of-the-road market, and a good market. Depending on how much you wish to invest over the years, you can see for yourself how well you might do overall down the road. 

Minimum investment is $500, but feel free to invest more. Their investment calculator shows you an estimate due to your initial investment as well as your monthly contributions. Not only does the Wells Fargo Intuitive Investor do your investing for you, it has already foreshadowed your path of success with their calculator, showing how you’ll most definitely gain in the long run, even in a poor market.

Several Accounts Available

No matter what kind of account you’re looking to open for investment purposes, the Wells Fargo Intuitive Investor likely has what you’re looking for. Their accounts include Individual, Joint, Trust, Custodial (UGMA/UTMA), Roth IRA, Traditional IRA, SEP IRA, Inherited Roth IRA, and an Inherited Traditional IRA. ETFs are also a possibility. If you want to rollover a qualified retirement plan, you can do that too. 

There’s Nothing Simpler

If you have been looking for a way to jump into the world of investing, the Wells Fargo Intuitive Investor is for you. It is easy to use, very simple, has a mobile app, and offers several different types of accounts. This tool invests in the market for you and builds a custom portfolio according to your needs. If you’re not too familiar with investing or if you don’t want to think about it too long or too hard, why not go the simple route and invest with the Intuitive Investor? In twenty years, you’ll be so glad you did. 

To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.

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