How Generational Wealth Can Help Heal Communities of Color.
When we teach financial education within communities of color, it’s important to blend lessons in financial literacy with lessons on how to empower self, heal the wounds of our ancestors, as well as advocate for the financial wellness of future generations.
As someone who saw the people she loved most work themselves to the bone and slowly deteriorate physically, mentally, emotionally, spiritually, and financially from a lifetime of trading time, health, and sanity for money, the threat of dying with nothing to show for a lifetime of work as well as having to force each subsequent generation to have to start back at square one (with $0 dollars in the bank) has carried over a profound wound within my soul that I’ve committed my life’s work to learning how to heal for myself and for others.
Thankfully, we live in incredible times where we now have easier access to financial vehicles that have the capacity to change the narrative for past, present and future generations especially for communities of color. One of those vehicles being life insurance.
Check out these 10 things that you might not have known that life insurance could do:
1.// Pay for long-term care expenses.
2.// Provide benefits if you're terminally ill.
3.// A source of cash if you're disabled.
4.// Give one last gift to a favorite charity.
5.// Ride out a bear market.
6.// Minimize your taxes in retirement.
7.// Insure the life of a child.
8.// Cover a child's college costs.
9.// Waive your premiums.
10.// Return your money if you don't die. Fascinating, right?
During the first season of the Latina Money Podcast, I had the privilege of interviewing Life Insurance Agent, Priscilla Land who enlightened me as well as our audience on the benefits of utilizing life insurance to begin to create generational wealth.
Want to hear the episode for yourself? You can tune in to Episode 3 here: Why You Need A Financial Best Friend w/Priscilla Land.
Today and every day, let’s honor those who came before us as well as those who are yet to come by continuing to have the tough conversations about money that have the power to positively catalyze long-lasting change for our communities.
We can’t change what we don’t talk about and during these challenging times, there’s no way we can afford NOT to talk. So, let’s talk about stuff. Even the stuff that’s hard to talk about. Our lives and the lives of the people in our communities depend on it.
Financial empowerment is personal empowerment.
Personal empowerment is financial empowerment.
Want to learn more about life insurance or ready to create your own policy? Connect with Priscilla on Instagram and don't forget to show some love by telling her that Latina Money sent you!
Here is to your financial healing.
Stay fabulous, fierce + financially savvy bellas!
