Black History Month: Finance Edition with Stix
- Brandon "Stix" Salaam-Bailey is the founder and CEO of Think Watts Foundation.
- Stix likes to empower others through his music; he's been in the music industry for more than 16 years as a rapper, songwriter, and producer.
- Think Watts focuses on financial literacy, economic development, and housing placement for the homeless.
Black History Month is a celebration for African-Americans who have paved or are paving the way for future generations. We collaborated with several finance influencers who are making a difference throughout their community and beyond. We asked those same influencers to share their thoughts about generational wealth, legacy building, the Black dollar, and more.
Brandon "Stix" Salaam-Bailey is the founder and CEO of Think Watts Foundation, which focuses on financial literacy, economic development, and housing placement for the homeless. Stix has a wide-ranging portfolio; he's been in the music industry for more than 16 years as a rapper, songwriter, and producer.
Along with empowering others through his music, Stix utilizes his platform to help build his hometown of Watts, California, into a thriving community by providing individuals and families with resources from financial education programs to charitable fundraising.
Check out Stix's answers to our Black History Month finance questions below.
Q1: What is the significance of the Black dollar to you?
The more we buy Black, the Black dollar goes back into building a Black economy. The bigger the Black economy grows, the more opportunities and resources that are developed for Blacks. The more opportunities and resources become available, the more powerful Blacks become.
Q2: What does a financial legacy look like for you?
Financial legacy is homeownership, life insurance policies, a diversified stock portfolio, Roth IRA account, and owning a few small businesses.
Q3: Is there a historical story or fact that made you look at wealth-building differently?
The Black Panther story and how it built a self-sufficient black economy. They were also very smart with investments.
Q4: How are you working toward building generational wealth for your family?
By opening life insurance policies on every member of the family and explaining the importance of it. Also, educating each child on the importance of starting their own business, owning real estate, and investing in stocks.
Q5: Share lyrics that speak to your financial philosophy.
"I got my whole hood learning stocks now, entire life been a risk, trade volatile" -Stix, "Right Now"
Q6: What is the biggest financial lesson that you have learned?
Save 10% of every check you receive. Separate your accounts. Create an emergency, investment, and family vacation account. If you don't save properly, you will be on the hamster wheel [paycheck-to-paycheck cycle] forever.