Life insurance is really that cheat code black folks need to start investing in...

[Easy-E]

In this sentence, did you meant aren't hustling life insurance plan for generational wealth?

I'll just make this simple.

 

[Tookalossfellbackcameback]

Yeah average black person dies a go fund me is created to pay for the funeral

I have a million dollar policy on myself no kids yet though

I know black folks that needed to throw a fish fry just to put a loved one in the ground. The point of this thread was to keep raising awareness...and also give you my own personal experience having just gone through the process of being a beneficiary.

 

[BaldingSoHard]

I'll just make this simple.

I kinda feel like "yes" or "no" would have been more simple than a 6:44 video.

 

[Easy-E]

You're losing focus here. The prevailing thought in this thread isn't that the hypothetical 100k payout = generational wealth...it's the opportunity that 100k payout gives an individual to create, build and establish generational wealth within the black family.

I'm not losing focus, you weren't ready for a rebuttal. Respectfully.

That 100k ain't free and most of these have a 2% return if you abide by all the terms of the insurance. ie Some terms cancel or reduce your payout for missed or late payments.

Oh....and don't get me to bring up the wealth numbers for black Americans (who this thread was aimed at).

This is a case taking thing rich people do because their rich and thinking it made them rich.

 

[Neo. The Only. The One.]

It can be a real starting point for generational wealth. My father passed away recently and I'm absolutely floored at how a man who made a fairly modest living can set my sister and I up with life changing money just off the strength of a life insurance policy and a few small investments.


The temptation is to start living like I won the lotto, I won't lie...but I'm talking most of that money and investing it. Put a chunk of it somewhere and let that money keep making money. I also recently established a term life insurance policy for my own family.


All of you would be wise to do the same.

I'm sorry for your loss, bro.

Regarding your message about life insurance, you're 100% right.

 

[Pseudonym]

I kid you not, my grandmother said "aint nobody getting rich off of my death"

I can honestly say that I was disgusted and hurt by this comment. I love her so much and dont want her to pass but the ignorance is just wow... I havent looked at her the same since, shes our matriarch.

This is how generational wealth is started. My son will be good if something happens to either one of his parents.

Edit: and the twins ( i keep forgetting about them) ...my son is going from 100% to 33% in less than a year....damn...

 

[Ghostface Trillah]

Well damn that's a morbid outlook.

"How he get the cash today his father passed away, left 'em wit a lil something 16 he was stuntin." - Kanye West on drive slow


It's a harsh reality that keeps happening cycling because people don't care to stop it.

 

[Neo. The Only. The One.]

I kid you not, my grandmother said "aint nobody getting rich off of my death"

I can honestly say that I was disgusted by this comment. I love her so much and dont want her to pass but the ignorance is just wow... I havent looked at her the same since.

This is how generational wealth is started. My son will be good if something happens to either one of his parents.

Don't blame your grandma. The fact of the matter is... our community suffers from so much misinformation and we have been so mistaught, that a lot of us SIMPLY DO NOT KNOW.

I didn't know about the importance of life insurance until about 3 or 4 years ago when someone had to teach me.

And just like we have never been taught, many of our parents and grandparents were never taught either.

Regardless of what some of us think, we are not on equal footing in this society, not in terms of finances or in terms of INFORMATION.

 

[13473]

i'd do this if i left the money in a trust fund with specific instructions. i have slow & disabled family members who will need help. also, i don't trust my family members

 

[Pseudonym]

Don't blame your grandma. The fact of the matter is... our community suffers from so much misinformation and we have been so mistaught, that a lot of us SIMPLY DO NOT KNOW.

I didn't know about the importance of life insurance until about 3 or 4 years ago when someone had to teach me.

And just like we have never been taught, many of our parents and grandparents were never taught either.

Regardless of what some of us think, we are not on equal footing in this society, not in terms of finances or in terms of INFORMATION.

Yeah, i dont blame her entirely. Im just let down because I look up to her and to see that shes has fallen victim makes me feel bad

 

[Neo. The Only. The One.]

Yeah, i dont blame her entirely. Im just let down because I look up to her and to see that shes has fallen victim makes me feel bad

Every black man and woman in America has been a victim of the circumstances that were imposed on us. But I understand your feelings.

 

[CarbonBraddock]

what exactly is 'life-changing money?'

so i guess op just 'didn't see' this post? guess the answer is like 100k though from his other post.

 

[Tookalossfellbackcameback]

so i guess op just 'didn't see' this post? guess the answer is like 100k though from his other post.

I saw the post breh...I ignored it, with all due respect. I'm not bout to jump on here stunting and giving you numbers. That wasn't the point of this thread. Whatever I received was life changing...make of that what you will.

 

[MikelArteta]

I know black folks that needed to throw a fish fry just to put a loved one in the ground. The point of this thread was to keep raising awareness...and also give you my own personal experience having just gone through the process of being a beneficiary.

My condolences to you and your family breh

 

[SnowflakesByTheOZ]

My condolences to you and your family breh