Blacklining Forum

E18: Wills & Trusts

Guest Kerry Reilly returns for a sobering-yet-important episode that takes a deeper dive into wills, trusts, and the importance of estate planning. The conversation addresses the worrying fact that a vast majority of Black Americans lack a legally-framed will, and how this oversight could prevent their participation in the largest wealth transfer in US history. Examples include high-profile celebrities like Chadwick Boseman, Prince, and Aretha Franklin, who tragically passed away with no wills - or unclear ones - triggering complex financial headaches for their heirs.
Kerry Riley navigates us through the maze of legalities surrounding wills and trusts, providing practical advice and clarifying common misconceptions. She explains how these legal documents operate before and after death, how frequent updates should be, and distinct issues regarding tangible property and real estate ownership. In particular, Kerry provides an easy-to-grasp analogy of trusts as a "lockbox" for assets. She also notes the varying implications of owning a property individually vs in joint tenancy, adding layers to the discussion.

E17: Dynastic Black Wealth

What's the difference between generational wealth and dynastic wealth?
Dr. LaTanya White, a scholar-practitioner who specializes in the intersections of global competitiveness, equity, entrepreneurship, and the racial wealth gap, joins us to introduce the concept of dynastic wealth, breaking down its five key forms — financial, spiritual, intellectual, relational, and wealth of knowledge — and how they can be intentionally cultivated and passed down through generations. She also discusses the importance of mindset, entrepreneurship, and community in building sustainable wealth.
Through practical examples and insightful anecdotes, Dr. White provides listeners with actionable steps to start meaningful conversations about wealth within their own families. Whether you're an entrepreneur or simply looking to understand how to create a lasting legacy, you'll hear valuable perspectives and resources to help you on your journey.
Learn how to transform your approach to wealth, legacy, and community impact, ensuring that future generations are not only financially secure but also rich in knowledge, identity, and purpose.
Dr. White also offers a complimentary Wealth Personality Quiz online at https://meetdrwhite.com/shownotes. 

E16: Blaxit

Who's an expat?
Who's an immigrant?
How does being a Black person from the United States, United Kingdom, or Canada complicate the idea of those identities when personal and societal experiences, perceptions, and feelings are factored in?
Derek and Melony discuss the historical impacts and societal implications of these notions with guests Margo Gabriel, a journalist based in Portugal, and Karleen Porcena, a globetrotting scholar of comparative politics. Our discussion also captures the personal journeys and insights we've each had overseas, from the Dominican Republic to Japan.
During the conversation, we unpack and critique the significance of Black Westerners "going back" to Africa with the complexities of lived experiences, anticipated discrimination, and entitlement. We also question the source of Black freedom when it's detached from ownership of land.
Our shared experiences and reflections offer takeaways for individuals considering international relocation or seeking to understand the experiences of Black Americans abroad, as we emphasize seeing ourselves beyond our socialized expectations and embracing the responsibilities of a broader worldview. Whether you're an aspiring traveler or have been away from your home country for a while, this episode is your ticket to explore the horizons of the global Black experience.

E15: Ambition

Melinda Jordan, a leading real estate advisor based in Chicago, returns to the show to take us on her personal roller coaster. From leaving a six-figure corporate job to losing everything and then rebuilding to establish a successful career, Melinda's journey is a testament to the power of resilience and determination. Her resourcefulness in the face of adversity was also a constant companion on every step of the way. She reveals the various tactics employed to thrive despite very large challenges, emphasizing the importance of asking for help while navigating life's uneven playing field.
Derek and Melony also explore concepts of personal growth and the importance of mindsets with Melinda as she shares how she overcame her limiting beliefs, learned to celebrate her accomplishments, and broke free from cultural and familial norms. We also discussed personal growth and the inevitably of feeling discomfort during the process, particularly when it creates distance with those around us.
In short, if you've ever asked yourself "How did they do that?" about someone, this conversation about self-investment and mindset shifts will provide personal and professional insights that answer your question. It's a tale of unwavering ambition and strategic risk-taking that will inspire you to confront your own challenges and achieve success against the odds.

E14: Long Term, Big Picture

Melony and Derek exchange insights with Courtney Brunson, a champion for economic and racial justice, and Director of the Greater Boston Partnership to Close the Racial Wealth Gap at the Boston Foundation. We begin with considerations of wealth-building strategies for Black communities, housing access complexities, and the role of fair housing in wealth creation.
But, the episode diverges from that path by taking a deeper dive into the cultural and societal growth of the City of Boston. We raise concerns about the socioeconomic factors in the landscape that challenge the city's cultural narrative, and explore whether the evolution of the American standard of beauty is a model for Boston to evolve its approach to "standards" of culture and inclusivity.

E13: Intro to Estate Planning

Today Melony and Derek delve into the crucial, yet often misunderstood, topic of estate planning. We consider its vital role in ensuring future financial security, protecting asset privacy, and transferring wealth in accordance with your wishes. Guest Kerry Reilly, Estate Planner to the 99%, unpacks the common misconception that estate planning is exclusive to the affluent and shines a light on its relevance and necessity for everyone.
We focus on the importance of planning for future contingencies, indicating how estate planning could serve as your ultimate "out-of-office memo" for safeguarding personal financial health. Additionally, we examine legal elements of estate planning, such as power of attorney and healthcare proxy. Through discussing various scenarios, we emphasize the potential consequences of not having these vital provisions in place.
Transitioning to property inheritance, we detail the responsibilities, legal challenges, and emotional aspects associated with handling an inherited home, especially for adult children or other family members. We also underline the necessity of a comprehensive estate plan by discussing the options - sell, keep or develop the property - and the need for accessible legal documents.
This is a must-listen to episode for people seeking practical, introductory advice on estate planning. Think of it as your primer for wealth preservation and for maintaining control over personal financial affairs.

E12: Community Building For Us, By Us

Glynn Lloyd has been a pioneer in the field of transformative urban economic development for over 25 years. He is the founder of City Fresh Foods, a nationally-renowned food service business, and over 20 years grew it on average 15% annually to an 8-figure revenue. He is also a founder of the Urban Farming institute (UFI), a community-led nonprofit supporting the development of the urban farming industry in Massachusetts and helped establish the Black Economic Council of Massachusetts (BECMA), a coalition of black business, community, religious and labor leaders working together to improve economic indicators in the Black community. Recently, Glynn has been appointed to the Commonwealth of Massachusetts Economic Development Planning Council. The council is responsible for crafting a strategic plan to guide Massachusetts economic development policy over the next four years.
Currently, he is the Executive Director of Mill Cities Community Investments (www.mccinvest.org), the first Black-led community development financial institution (CDFI) in Massachusetts. Glynn is also the founding Executive Director of the Foundation for Business Equity (FBE). The Foundation’s award-winning initiative, the Business Equity Initiative (BEI), is executing a unique approach to scaling up local Black and Latino enterprises to close the racial wealth gap (www.fbequity.org).
In this fast-paced conversation, Glynn shared his insights on what's involved with building community and how that work is sustained. During our conversation, he reveals tidbits about his mindset, explains how money works, and discusses the importance of sustainability at both the individual and community level.

E11: Collective Equity

In this episode, we delve into the world of collective equity with Jock Payton, founder and CEO of Nubian Square Investment Advisors. With his wealth of experience, Jock paints a vivid picture of the varying definitions and applications of equity, and its capacity to foster social justice and financial well-being. He sheds light on how individual investments can transform into collective equity, potentially bringing a significant impact to a broader community. Furthermore, this conversation helps even those outside of the financial sector understand how equity and value intersect with societal structures and social justice.
The discussion then transitions toward the importance of community investment in local businesses and how such collective ownership can shape factors like wages, job opportunities, and worker benefits.
Bridging the gap between the community's investment desires and their financial capacity, we note with caution the role that affluent players can have in social-impact investments. We also tackle the misconception that significant capital is necessary for wealth creation, emphasizing how even small steps, like paying off debt and increasing saving, can start the journey to financial equity.
Eventually, our conversation centers around the idea of redefining wealth, underlining that wealth is not just about money, but also comprises elements like education, health, cultural freedom, and individual talents. We discuss how everyone can contribute to the financial health of their community, irrespective of their monetary status, as well as how new initiatives like the Dream Exchange, the first Black-owned stock exchange in U.S. history, can promote both individual and community wealth.
We end by underscoring the significance of investing in oneself, emphasizing education, skills development, networking, and pursuing one's passions. In short, we elevate the transformative power of collective equity and its potential to redefine communities.