Honor Mental Health Awareness Month and Build Your Wealth

As you continue (or prepare) to meet with friends and family as we reopen as a country, my hope is that you take in these special moments. 

May is Mental Health Awareness Month, and the National Association of Mental Illness states boldly that “now more than ever, we need to find ways to stay connected with our communities.” NAMI’s rallying cry - “You are Not Alone” - should provide some comfort to you or those around you. I provided some mental health resources to weather COVID-19 back in September, so please refresh yourself with them as you need or share them along as we hit a new season.   

Mental health comes in all shapes and sizes, and therapy is one of those shapes. In my book talks around the country, one of the biggest pieces of feedback that I have received is “Thank you for being very open and vulnerable about therapy.” You see, getting a therapist helped me to create an environment for wealth creation. I strongly believe that working with therapists potentially provides an environment for you to grow personally. The thing that many people underestimate is how much your issues can weigh you down in your pursuit of wealth. If you haven’t dealt with issues that might be lurking underneath the surface, then it is incredibly difficult to spend the time or energy on wealth-building activities.

Going to therapy is preventative health. If you give it time and focus, it becomes routine and part of your journey. In my life, I have found therapy to be that mental and emotional wellness check-in that creates a healthy, wealth-giving mindset thanks to inner reflection.

There is no shame in therapy. Better yet, my hope is that therapy gives you the confidence to go forth boldly and eventually tell others about the positive benefits you received. In this way, we can collectively crush the stigma and pass the wealth forward.

And, here are a few articles that inspired me this week: 

• Coinbase Profit Surges in Crypto Exchange’s First Report as Public Company. Coinbase’s stock price has been down since the company had its IPO. The stock price largely mirrors the movement of the underlying digital currencies that trade on its cryptocurrency exchange. I found Coinbase’s shareholder letter refreshingly honest, especially the statement “the crypto market is inherently unpredictable. Its trading volume and active users are driven “potentially materially” by changes in bitcoin’s price and the market’s volatility.” Are you in Dogecoin or Ethereum? I really would love to know.  Feel free to share your own crypto journey on my blog.

• 'I Bought a Rental Property For My 2-Year-Old'. This article gives a wonderful perspective on Alex Edwards, a father who wanted to give his son the opportunity to fail. He wants his son to have the space to figure out what he wants to do. As he states in the article, “When you're stuck in a miserable job so you can pay the bills, you're losing out on the opportunity to find yourself and what your talent is.” That’s a large opportunity cost that most of us don’t want to face. So, Alex bought a piece of real estate and put the property in his name and the money is going into a trust of which he is the beneficiary. Before he was a father to his son, Alex Edwards quit his job at 23 years old and became a real estate agent. While studying for his broker's license, he realized he could get 100 percent of his commission and started his own company. 

Whether it’s a piece of property, a 529 plan, a business, educational knowledge, exposure to a unique skill set, passing wealth down to the next generation is so important. In fact, I believe that intergenerational wealth goes way beyond the money, and everyone deserves to pursue it. You can read more about my thoughts in this Fortune article that I recently wrote. 

A Wealthy Girl Corner

Mark your calendars! This coming Thursday May 20th at 8 PM ET, I’m excited to join Tulaine Montgomery for the Instagram Live “Say More live conversations with Tulaine’ to have an intimate discussion covering my book “A Wealthy Girl: 7 Steps to Prosperity, Peace, and Personal Power” along Black liberation and justice, self-care, creativity and history. 

Tulaine Montgomery is a dear friend and the newly appointed Co-CEO of New Profit. You won’t want to miss her as she is a GEM! I invite you to join us in community and engage in conversation with us and experience what will certainly be a great conversation. 

To join on IG live, follow @tulaine_montgomery and tune in on May 20th at 8 PM ET! 

See you there and have a great week!