From the very inception of WayMaker Journal, we have been discussing the possibility of a “money issue,” and finally, here we are—our guide to all things financial. From the beginning, we’ve known the importance of capital, savings, investments and creating wealth for our community. So, we’ve taken on the painstaking task of putting everything we believe you need to know about money in one issue. Now, of course, we understand that’s impossible, but we’re giving it our best shot to educate and inspire you when it comes to the importance of wealth-building.
In these pages, you’ll learn about the importance of a 401(k) savings account and what to do with it when you change jobs. You’ll also find some simple tips on saving from Tiffany “The Budgetnista” Aliche. We even explore the world of NCAA sports and how student-athletes can now make money in the world of NIL (name, image and likeness). We also share advice from Ross Mac and Xavier Miller on the kind of mindset it takes to become a millionaire.
We enjoyed learning about one of the top Black-owned investment firms, Channing Capital, from one of its co-founders, Rodney Herenton. He shares his very intriguing story as someone with roots in Memphis, Tennessee, whose journey took him to Howard University, then Harvard and on to Wall Street.
We also hear from “Haitian CEO” Herman Dolce Jr., who teaches the importance of financial health through his Bella Sloan Enterprises; you can’t over-emphasize the importance of having good credit and being credit-worthy. We were also excited to speak with teenage tech leader Ian Brock as he continues his journey in educating Gen Zers on the importance of money with his new book, New Nerd Money. As some of you may know, Ian is not only a friend but also an in-house WayMaker consultant on reaching and inspiring young people.
Switching it up to provide even more inspiration, we asked our travel friends at Detourxp.com to do something a little different for this issue. Usually, they write about how you can travel on a budget; this issue talks about the delights of luxury travel at the highest levels.
Capital and charity
Our mission at WayMaker is rooted in my longtime passion for the world of philanthropy. I’ve always felt that our community needs to better understand the importance of giving beyond family.
We all know that in almost every area of our community, there are great deficiencies and a great need for resources and capital that will make a difference. Whether we’re talking about education, health, arts or even athletics, there is not enough money available for Black people on their road to success.
So, we spoke to two people trying to be an example by educating others on the importance of giving—Phoenix businessman and HBCU trustee Justin Bayless and Carrie Davis, who recently gave a major donation to her college alma mater. After reading their stories, we hope you will be inspired to create your own legacy of philanthropic efforts.
As we thought about some of the areas that our millennials and Gen Zers might have a real passion for, the arts stood out. So, we reached out to the CEO of Kickstarter, the crowdfunding platform that focuses on creativity in music, film, art, theatre and games. CEO Everette Taylor educates us on Kickstarter’s importance and his passion for being in the space and making a difference for young entrepreneurs.
Finally, our “10 Top” lists introduce you to some of the people and institutions who are making a difference and exemplifying the importance and value of financial health, from banking and investment to entertainment and education.
I hope that as you read this issue, you will learn something you may not have known and be inspired to go to the next level in every aspect of your life. That could be the next level of education, the next level of savings, the next level of investing, the next level in your career or the next level of giving back. Understand that improving our families and communities starts with one person at a time. And always remember that to change the world, you must grow your life.
