The Wealth Choice: Success Secrets of Black Millionaires

The author lays out 7 principles of wealth for African Americans who are on the path of wealth, abundance and prosperity. He has interviewed and surveyed black entrepreneurs and business owners of different industries to learn the secret to wealth and you quickly learn that it's no secret but it all starts from within. Even though things have changed since this book was written because of technology and business models changing this book is relevant for building a foundation of wealth.

I thought this was an excellent book.I loved that* It is well researched - the author surveyed 1,000 self-made black millionaires and did extensive additional 1-1 interviews and focus groups, including interviewing five black self-made billionaires. He also drew on sources of data such as government statistics to underscore key points in the book with data.* It is politically on point - at the end of his career, Dr. Martin Luther King, Jr., was examining the economic power of the black community, and how economic equality can help with achieving political equality. Becoming wealthy, for people in the black community is then not just an act of economic self-interest, it is also an act of political empowerment. The book quotes some leading black figures to make this point:“Never forget, until you are free economically, true independence will always be an afterthought. Today, we, as Black Americans, can live where we want, eat what we want, sleep where we want, and send our children to the finest schools we so desire. But for far too many of us this form of freedom is difficult to express. Why? Because in most cases we cannot afford to. Unless you are free economically and financially, you will never be free personally.” - John H. Johnson"Dr. King and I integrated the lunch counter, but we never integrated the dollar. And to live in a system of free enterprise, and yet not to understand the rules of free enterprise, that’s the definition of slavery" - Andrew Young* The approach in the book is centred around finding your strengths - the path to wealth that Kimbro documents is centred in finding your strengths and putting them to work in service to others.In a nutshell, Kimbro's research says that to become wealthy there are two keys:1. Take control of your own financial destiny by starting a business and working for profits, not paychecks, and2. Save and invest.Kimbro maps this out into 7 laws of wealth (I added the phrase at the start of each law, the phrase at the end is from Kimbro):1. Mindset & Right Ideas: Wealth begins in the mind but ends in the purse2. Decide: Decide that you will not be poor3. Self-belief & Faith: Believe in thyself when no one else will4. Build on your Strengths To thine own self be true; find your unique gifts5. Add Value: How may I serve thee?6. Ownership: Thou shalt own thy own business7. Save & Invest: Wealth Make thy money growI recommend this book.I agree with another reviewer that the writing style could probably have been tightened up a little for increased engagement, but it wasn't bad - it just could be better. I still give it 5 stars, primarily for the content it delivers and the relevance and value of that content.Also, FWIW I'm a white guy. I think that the wealth advice he gives is relevant for black people, latinos, Asians, Native Americans, and yes, white people, as well as for people all around the world in different countries outside America. It is relevant for both men and for women - he gives success story examples from both genders.This book is part of the author's life's work spent studying and teaching this topic. It shows.

The author explained the premise, the process, and steps to success that anyone can follow. With dedication, determination, and by putting into practice what was discussed, anyone can do this. My suggestion is to teach this to high school and college students so that they are ready and prepared once they graduate. The steps are very easy, 1. work for someone, 2. start a business during your down time, 3, invest in real estate, and 4. invest your income to grow it more (other investment vehicles or other real estate).Knowledge is power.

This book should be REQUIRED reading for every HBCU, predominantly Black high school and middle school in the country. Personally, I have not come across too many books where the author has studied the lives of scores of successful Black people and compiled that information in a true “FUBU” type manner. I THOROUGHLY enjoyed this book and will be reading it again. In addition to the data collected and the highlighted lives of some amazing Black individuals that we do not frequently hear about, Mr. Kimbro dropped so many wealth nuggets that it forced me to stop, selah and meditate more times that I could count. Mr Kimbro is an amazing, gifted, talented and cerebral writer. In this book, Mr. Kimbro challenged me mentally, emotionally and spiritually. More people need to be aware of the great work that he has done. If Mr. Kimbro ever reads this, one of my requests would be that he updates it with new Black millionaires seeing that it has been about 10 years. This book is a gift to the Black community! This is why I started earlier that I believe every HBCU with a business school, should adopt this book and it should be required reading for our students.

I highly recommend this book. This author gives several detailed accounts of the average Black millionaire, which seems like an older married couple with decent jobs who invest, save, and make a set of consistently wise financial decisions, including owning a home, investing in the stock market, save in 401k, or own a business. It sounds very typical. It’s not hard but requires an unparalleled amount of consistency and delayed gratification. The book not only describes the Black millionaire but also provides a motivational blueprint of sorts: (1) It inspires Black Americans who think it is impossible to achieve millionaire status in America where their ancestors built wealth for oppressors, (2) It lays out the framework upon which Black wealth is built. Given that America is currently in a deep recession and protests about racial injustice are happening across the country, some of the same general rules about wealth building apply whether or not we are in a short-term debt cycle or at the end of a long-term debt cycle (See Ray Dalio’s Principles): Hard work in the face of seemingly insurmountable obstacles, focus, consistency in the pursuit of excellence, and a diversified portfolio of economic activity are all characteristics for building wealth. It’s unfortunate that the aforementioned qualities are not trained or systematically reinforced in public schools. Each child must bring most of those things with them. What most should know but don’t is that the vast majority of wealth creation is built during economic downturns. Those who build wealth during economically challenging times understand or unknowingly practice the concept of anti-fragility. Wealth acquisition should not be a foreign concept but it is.

Great book.So much valveable information on acquiring wealth. This book illustrates how the average or disadvantage person was still able to become a millionaire.

The book is very helpful, thank to the author

A book that looks at self-determination, moving out of self-imposed stigmas. Although the book at times leans to broad discussions of success the anecdotes of African-America's own capitalist story makes for a fascinating and inspiring read.

Good book that every black person must read . Inspirational stories of African Americans who have attained wealth from humble beginnings

After reading this powerful tome of real stories and advice I feel empowered. I'm not yet finished though. I must now go back and apply it in stages to reap the timely benefits of his advice. This book has taken away the boundaries that I have unconsciously set for myself. My next step is action. Read this at the result of imagining wild success but apply it and be successful. Can't wait to write my second review to show the progress I've made.