Kimbro Believes Courage, Not Cash Key to Wealth
Shewanda Riley, Special to The Informer from NNPA | 7/2/2013, 3 p.m.
An unshakeable passion to see people do better financially is how many describe national bestselling author Dr. Dennis Kimbro’s over 20-year career motivating others to change their lives. Best known for the classic book Think and Grow Rich: A Black Choice, Kimbro has spent decades studying the economic conditions of African Americans. The statistics are alarming. According to his research, the average household income of Black America stands at $29,000, barely above poverty and more than 35 percent of Black children live in poverty. And because Kimbro believes your net worth equals your self worth, the figures concerning net worth are more astounding. Nearly 35 percent of African Americans possess zero net worth. Is it a lack of knowledge or a lack of opportunity? For Kimbro, it’s neither: the real issue is courage.
”As a race, unfortunately, we don’t pay homage to our financial elite. Wealth is the result of a conscious choice, action, faith, innovation, effort, preparation and discipline,” notes Kimbro. In his latest book, The Wealth Choice: Success Secrets of Black Millionaires, Kimbro shares the results of an exhaustive study of the success secrets of 1,000 Black millionaires. “Over a seven year period, I interacted with nearly 1,000 Black millionaires; wealth creators who started with nothing, built a financial empire without the use of a microphone or a ball,” explains Kimbro. In a recent phone interview with The Dallas Weekly, the Clark Atlanta University professor enthusiastically stated that their inspirational stories about how to build wealth must be told.
Courage and a determination to passionately pursue dreams were the most common traits among those he interviewed. “This work is not about ‘cash’—it’s about ‘courage.’ It takes courage to chase your dream; it takes courage to save 10 percent of your earnings; it takes courage to forsake today in search of tomorrow; and it takes courage to find a new set of friends because your current friends either disempower you or don’t believe in your future or your abilities,” reflects Kimbro.
Hoping to revolutionize how African Americans view wealth, Kimbro is on a crusade to convert those who struggle with believing they can attain wealth. He brings that crusade to the Dallas Fort Worth area June 19th – 22nd. One way to change that mindset is get people to stop thinking about wealth simply as income. He explains that “Money follows people who respect it and who will use it the right way.” He firmly believes that once the African American community is better informed, the community will start making better choices. Kimbro notes, “If you know better, you can do better. If the average African American knew the current data surrounding the financial condition of his or her race, it would cause him to shudder.”
According to Kimbro’s research, Black America is either in last place or next to last place when it comes to indicators that lead to financial success. These include credit worthiness, employment, home ownership, education, marriage and family stability, and savings. “And, as WEB Du Bois stated in The Negro in Business written in 1899, ‘The man or woman who won’t control his finances will control little else,’” Kimbro laments. Despite these sobering statistics, Kimbro is hopeful that African Americans can improve their finances and become wealth builders. He encourages those who want to transform their finances to do the best they can. “If you can’t save 15%, do the best you can,” he suggests.
Kimbro’s book discusses nine primary factors that lead to success and wealth building. “After seven years of empirical research, I can unequivocally state that wealth is not a function of circumstance, environment, luck, or the cards you are dealt. Starting with the simple question of”What’s the key to generate a seven-figure income?” Kimbro found that the answer wasn’t just education or hard work but a combination of 7 best practices including faith.
One fact that Kimbro learned from the millionaires he interviewed like Tyler Perry and Bishop T.D. Jakes was that a key component to success was a deep rooted religious belief. According to Kimbro, faith encompassed their belief to not be afraid and to not give up. “Faith is a verb and must include action steps,” he notes. Most importantly, Kimbro’s research for the book shows that acquiring wealth was not a matter of chance but a matter of choice. According to Kimbro, “Rich people make money and while the rest of us make excuses.”