MONEY TALK$ EMPOWERMENT Invariably, when someone dies, we find ourselves hoping that life insurance in place. In his book To Follow Right, Ewart Walters chronicled the role that the Spectrum has played since its inception in the Ottawa Black community including observer; educator; representative of the disfranchised; voice of the community; holder of the mirror; media ambassador for the Caribbean people and the African Diaspora; friend, and political advocate. With this the final run of the Spectrum, the Black community has been dealt a serious blow. We all assumed that it will always be there. What will take its place? In The Road to Now, Montreal historian Dr. Dorothy Williams, showed the importance of being the gatekeeper of one’s own story or risk it being told by someone else. The Spectrum was the stage on which the community expressed itself. We controlled how our story was told. Although the print media in general is suffering from declining readership and advertising, unlike other newspapers, the Spectrum was a sort of “community centre” where we assembled in search of familiar faces and where news of our accomplishments were highlighted compared to the often negative exposure we received elsewhere. On a smaller scale, this column used everyday language to educate readers about the power of proper financial security planning on individuals, families, and the community. Last year I attended a conference in Dallas, Texas, where a well-known life insurance company made a commitment to join forces with the conference organizers to educate Black America on how to break the cycle of poverty within the Black community and create intergenerational wealth. Apparently, despite all the racial inequalities, and not because of them, even middle class and educated Blacks have fallen short on using life insurance as an effective tool to manage risks, increase wealth, and reduce taxes. This has contributed to the Black community’s poorer health and lack of economic and political clout – even with a Black president. Economic empowerment is attained by taking control of one’s own finances, one dollar, one family, and one community at a time. When we insure our lives, wealth is created that can be passed on; funerals are funded; widows live with dignity; money is set aside for even our grandchildren’s education; businesses are created; Black unemployment decreases; Black home-ownership increases; physical and emotional health improve; and Black families (read coupledom) is strengthened. Within one generation the economic, mental, and social state of the Black community can be changed with as simple a tool as owing life insurance. For most young couples, it would cost as little as $2/day – less than a cup of coffee, a hamburger, a pack of gum, or one Jamaican beef patty and a cola champagne. I cannot break it down simpler than that. It translates into individual, family, and civic responsibility – otherwise, talk is cheap. I hope that the Spectrum’s fire will continue to burn in another life-form as well as in our hearts. For everything there is a season. With Money Talk$ it was my desire that someone, somewhere would gain sufficient insight and act upon them. I’ve received many encouraging feedback over the years and I feel blessed to have being associated with the paper. Thank you. Elcho Stewart is licensed to practice in Quebec, Ontario, Saskatchewan, Manitoba, Alberta, and British Columbia. Telephone: 613-422-9188/Toll free 1-866-783-8516/ Fax: 613-422-9188. E-mail: elchostewart@weblifefinancial.
Posted on: Mon, 09 Sep 2013 17:08:58 +0000
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