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Have you heard of the Tulsa Race Massacre also known as the Black Wall Street Massacre?
It is not uncommon that most people don’t know of this event which has been called “the single worst incident of racial violence in American history”. It occurred in Tulsa, Oklahoma in the year 1921. Learn more about this harrowing event in this episode as I close out Black History Month with my friend Kevin Matthews II.
Kevin is a bestselling author, speaker and former financial advisor. In 2010, he launched the blog BuildingBread to inspire millennials to set, simplify and achieve any financial goal. He was born in Tulsa and grew up in the neighborhood where the massacre happened.
We can only just imagine the mental health and wealth implications of this event to the people of Tulsa. Kevin shares how the incident affected black wealth and how to help close the racial wealth gap.
He also discusses the long-term consequences and the generational trauma that affected generations to come up until this present day. He shares how this event pushed him to build intergenerational wealth for his family through investing.
As investing is a risky process and can trigger anxiety, find out how you can also invest responsibly and protect/manage your mental health at the same time.
Plus, learn what happened with GameStop a few weeks ago and why it’s a risky investment.
What You Will Learn From This Episode
- The Tulsa Race Massacre and why a lot of people are not aware of this incident
- The trauma and long-term consequences of this event
- Actionable steps we can take to help close the racial wealth gap
- How to build intergenerational wealth through investing (investing tips and strategies)
- How to invest and protect/manage your mental health at the same time
“I have to wonder how much different my community would look like today. Like that’s not too far removed, my great-grandparents may have benefitted from that. Again they called it a riot instead of a massacre at the time to deny insurance claims.” – Kevin Matthews
“In the context of African-Americans, it’s gonna take 228 years for African-Americans to catch up to the level of wealth that white families have today.” – Kevin Matthews
“My son has more money at age 3 than I had in 18.” – Kevin Matthews
“Usually, when you just stay put, mind your business and just keep investing and leave things alone, it’s gonna put you in the best spot” – Kevin Matthews
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Timestamps
3:20 – What happened during the Tulsa Race Massacre
5:30 – Why a lot of people are not aware of this incident
07:50 – The long-term consequences and trauma of the massacre to the people in Tulsa
12:10 – What is the racial wealth gap and actionable steps we can take to help close it
18:29 – How Kevin is building intergenerational wealth for his family
23:17 – What really happened with GameStop’s stock price and why it’s a risky investment
27:03 – Investing tips so you can build wealth responsibly
31:56 – How you can invest and protect/manage your mental health at the same time
35:21 – What is rebalancing and why it’s important in your investing strategy
37:05 – The technical aspects of rebalancing
Resources
- Can Trauma Be Passed Down From One Generation to the Next?
- Public – Invest in Stocks (referral link)
- Nicole Antoinette
- Jason Zweig
Connect with Kevin
Connect with Melanie
- mentalhealthandwealth.com
- melanielockert.com
- Contact: mentalhealthandwealthshow@gmail.com
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