Kelsey Wilson, founder of comprehensive wealth management firm Black Lines Financial, joins the podcast to discuss topics ranging from financial literacy, attaining true equity, and how past generational habits and trends influence our current socioeconomic status today.
00:00:00 - Introduction and Guest Background
00:00:27 - About Black Lines and Fiduciary Financial Firms
00:01:16 - Kelsey's Journey into Finance
00:03:31 - Financial Literacy in America
00:05:06 - Investment Strategies and Savings
00:06:03 - The Role of Financial Advisors
00:07:19 - Contributing Factors to Financial Illiteracy
00:08:34 - The Importance of Early Financial Planning
00:10:38 - Addressing Financial Constraints
00:13:51 - Payday Routines and Personal Finance Management
00:15:44 - Investment Strategies and Personal Spending
00:17:21 - The Psychological Aspect of Money
00:18:31 - The 60-20-20 Rule in Financial Planning
00:21:39 - The Influence of Marketing and Peer Pressure on Spending Habits
00:25:46 - The Importance of Conscious Financial Decision Making
00:27:26 - The Impact of Generational Financial Habits
00:27:26 - Generational Financial Literacy and Its Evolution
00:28:20 - The Influence of Historical and Cultural Factors on Financial Habits
00:31:18 - The Historical Impact of Slavery on Consumption Habits
00:32:49 - The Evolution of Wealth in the Black Community
00:33:35 - The Need for Reparations and Equitable Resources
00:35:30 - The Role of Government in Addressing Inequities
00:36:52 - The Business of Slavery and its Profits
00:41:05 - The Importance of Keeping the Conversation Alive
00:42:20 - Quantifying the Profits from Slavery
00:45:39 - The Modern-day Implications and Continuation of Slavery
00:46:43 - Incarcerated Labor Force and Modern Slavery
00:50:07 - The Impact of Economic Inequity on the U.S. Economy
00:53:30 - The Global Currency and the U.S. Dollar
00:56:27 - Investing in Cryptocurrency
00:58:51 - Retail Investors and the Stock Market
01:02:01 - Managing Your 401k Investments
01:02:32 - Understanding Investment and Voting Rights
01:03:51 - The Power of Financial Literacy
01:04:56 - Thoughts on BlackRock, Vanguard, and State Street
01:06:32 - The Role of Government in Market Regulation
01:08:14 - The Influence of Large Companies
01:09:23 - The Balance of Power in the Market
01:11:57 - Introduction to Black Alliance Financial
01:14:40 - Final Thoughts and Contact Information