Nationwide — The Profit Room, a Black-owned day trading firm, is sharing some valuable tips for African Americans who want to build generational wealth. Founders Latoya Smith-Dean and Ernest D. Gains created The Profit Room based on their individual success as investors and traders. Here’s their advice to others:
P – Pay Yourself First.
When you earn a dollar the first person you should pay is you. Most people will pay everyone else first. Make it a habit to pay yourself, as in automatic payments from your check straight to your savings or investment accounts. The point in this matter is you can not spend what you do not have. By making the mental switch to paying yourself first into a necessity rather than a desire; then over time you would have saved a substantial amount money.
L – Learn and Change Your Mindset.
It’s never too late to condition your mind and thoughts. Early in our lives we had certain perspectives that shaped our perception and views about money. We can change the way we think about money. Many people believe that it is difficult to become financially free. Although the process is a journey the information that is readily available is endless. It’s just your willingness to accept positive changes in order to reprogram your subconscious mind.
A – Attainable Goals.
Through the technology age, we have so much access to information. This is why we created a platform (TheProfitRoom.com) to help individuals with money building strategies. We get countless emails from people stressing about their 9-5s and the discontent with their current jobs. The truth is an hourly rate alone will not make you wealthy, therefore we are giving you several alternatives that will help you generate additional income. No matter what your situation is in life, you too can achieve a level of financial success.
N – Nothing Can Stop You!
If it’s in your mind to achieve financial success, your reason on “why” you started should motivate you enough to continue your journey. Perseverance, dedication and action is a great formula to push you towards success. Do away with excuses. Excuses do not help anyone progress in life. The formula for one’s success is not perfect, it is a process of lows and highs, just start creating and stay consistent. Nothing can stop you! You have all the power.
The Profit Room specializes in providing financial knowledge along with mentorship so anyone can navigate and make additional income in the financial markets effectively. Tax season is here and they are providing tax strategies that will benefit any income level. Do you have a legacy/ Retirement account? If not, they will show you where to start and how to create one. For more details and/or to get started, call (844) 339-9939 or visit www.theprofitroom.com/workshop.