Participants:
Series Code: LTBW
Program Code: LTBW000018A
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00:35 Hi, I'm Dr. Kim, and welcome to, Live To Be Well.
00:39 Let me ask you a question. 00:41 How are your finances? 00:43 Well today I have an amazing financial adviser 00:48 on Live To Be Well. 00:49 - Welcome, Ryan. How're you? - Thank you so much, Dr. Kim. 00:52 And thank you for the work you're always 00:54 doing for the community. 00:55 Oh listen, likewise. 00:56 Well let's get into the heart, because I know I'm going to 00:58 learn a lot from you and how to improve what I have. 01:02 - It's all about growth, right? - Absolutely, all the time. 01:04 Alright, let's talk about inner city finances. 01:07 What are some of your concerns or some of the challenges 01:10 you see within our community? 01:12 Well, within inner cities you have a lot of 01:16 essentially predators preying upon what we don't know. 01:18 One of the most precious commodities sadly in our 01:20 communities is ignorance. 01:23 You would think it would be God, you'd think it would be love, 01:25 but sadly many individuals exploit ignorance, 01:27 what individuals don't know. 01:29 So if you walk down the streets within inner city, 01:31 you see the check cashing places, the payday loans, 01:33 the title loans, the cash advances, 01:35 the pre-paid debit cards. 01:37 The new banking within many inner cities has become the 01:40 pawn shop because individuals are living 01:41 check to Tuesday not able to sustain their wealth 01:44 through the rest to their payday. 01:46 So what they're doing is, I saw one stat that said 01:49 in south side Chicago they're spending as much as 01:53 23 million dollars in one zip code in the 01:55 south side of Chicago on lotto tickets. 01:57 So again, it seems if we are spending 23 million dollars, 02:02 that means individuals are spending more money 02:04 on luck and they have more faith in luck than what God has 02:08 given them to be successful. 02:09 So what we have to do is really understand that, 02:12 yes, individuals, it's half a trillion dollar industry 02:15 that individuals are making on what we don't know. 02:18 So if we can take that knowledge and say that God has given us 02:21 knowledge, the wealth of knowledge and all these things 02:24 that God has given us, and use that knowledge 02:26 for tools of empowerment. 02:27 And that's what financial literacy really is all about. 02:30 You know, it's all about wisdom, it's about understanding 02:32 who you are, it's about understanding whose you are. 02:35 And understanding that, yes you do have the ability to 02:37 be successful, and God has given you, I think it says, 02:39 Ephesians 1:3, "Blessed be the Lord and Father 02:42 of our God Jesus Christ, who hath blessed us 02:44 with all spiritual blessings in heavenly places in Christ." 02:47 That doesn't mean He's going to bless us. 02:49 It means He's already blessed us. 02:51 So we don't have to wait any longer for God to bless us. 02:53 We just have to use the tools that God has given us right now 02:56 to say, "Listen, we've got to put that ignorance to the side 02:59 and use the wealth and faith and knowledge in God 03:01 and what Christ has given us to be successful." 03:03 And then start saying, "I'm going to use financial literacy 03:05 to prove that I have faith and prove that there is a Lord, 03:09 and I'm going to walk and be successful with it." 03:11 Oh, I agree with that. 03:13 When I hear you talk about the check cashing places 03:15 and all these entities, it's like slavery. 03:19 - Financial slavery. ~ Yes, absolutely. 03:21 If I'm someone who is coming out of college, 03:24 or even before I get to college, how do I begin 03:29 developing my financial portfolio? 03:31 What do I need to do? 03:33 There's this thing called, what I like to term as money heaven. 03:36 And that's when you spend money on these things, 03:38 you're never going to see it again. 03:40 And so when you realize what money heaven means, 03:42 that means that when you spend money on debt, 03:44 so you have to really control your debt. 03:46 You have to really control when you spend money on taxes, 03:48 you have to minimize your taxes, minimizing the amount of money 03:51 you're putting in living expenses, all those things 03:53 that you don't need, you know. 03:55 What you can walk away from, you have mastered. 03:57 What you cannot walk away from has mastered you. 03:59 So what we have to understand is, take those living expenses, 04:02 minimize those. 04:03 And then on irresponsible giving. 04:06 I mean, we want to tithe to our churches, 04:08 we want to give to our churches. 04:09 But we don't want to do that irresponsible giving. 04:11 People come and say, "Hey, let me hold $20." 04:13 "Let me hold $100." 04:15 "Let me pay you back when I get my tax return," type of deal. 04:17 So that's not the type of giving we want to get into. 04:20 We want to give it in an empowerment way. 04:21 So all these things; between debt, taxes, 04:24 irresponsible giving, all these things we want to make sure 04:28 we minimize those things, and living expenses. 04:31 But then we can take the rest of that money 04:33 and put towards increase. 04:35 You know, God wants us to live a life of increase. 04:38 So how can we put money into things that are actually 04:40 increasing and not decreasing? 04:41 Using debt responsibly; 04:43 mortgages and putting money on homes. 04:45 Using debt responsibly by purchasing a 04:47 business that you've had. 04:49 Using debt or using money responsibly 04:51 by putting money in assets that actually appreciate in value. 04:54 You know, stocks, bonds, business real estate. 04:56 All those types of things. 04:57 When you are putting the money on the irresponsible things 05:00 aside, now you're putting your money to things that increase. 05:03 We do a lot of work with those in the inner city, 05:05 gang members and whatnot, and helping individuals. 05:07 I was talking to one of them and they said, "Ryan, I don't have 05:09 enough money to start a business." 05:12 But he had on a $700 Ferragamo belt. 05:14 So he had enough money to buy this belt, 05:17 but he didn't have enough money to start a business. 05:20 I said, "Well, essentially what you're doing is," 05:22 I said, "I'll point it out to you, you have that 05:23 $700 Ferragamo belt." 05:25 What we have been taught is, you know, when you go to an 05:28 apple orchard, right, I like eating apples, 05:30 you go to an apple orchard and you like to 05:32 pull apples from the tree. 05:34 We eat from the tree. 05:36 But we have not been taught that we can be like the tree. 05:38 So what he's been taught, I said, "What you're doing 05:41 with that $700 Ferragamo belt is you are essentially 05:43 only eating from the tree making somebody else rich." 05:46 You're paying his bills, you're paying his mortgage, 05:49 you're putting money in his pocket. 05:51 Meanwhile, you have a dream that God has put inside your head 05:54 that you are robbing. 05:56 And you are not only robbing yourself of that dream, 05:58 but all those other individuals of that business. 06:00 You know, when I was in Brooklyn we helped over 2000 individuals 06:03 start their own business who were formerly incarcerated. 06:05 How did we do that? Because we had our own business. 06:08 Because we saved, we put money aside, 06:11 we started businesses, and then we were are able to 06:13 then take time out to give and help those coming from prison, 06:16 help those who were formerly incarcerated. 06:18 Then they started their own businesses, they helped other 06:20 Bloods and Crips get off the street. 06:22 So this is the type of things that our communities, 06:24 especially you talk about the inner city, 06:26 the type of things that we have to start looking at. 06:28 So building wealth is not only what you can do for yourself. 06:31 It really frees you to help do things for other people. 06:34 So what I always ask is not how much money you've obtained, 06:38 but what have you done for other people? 06:40 And what have you done to make a difference for other people? 06:42 And you know, Madame C. J. Walker said it best, 06:45 "It's not how much money I make, it's about what I can do. 06:48 And the more money I make, the more people I can help." 06:51 And that's really what it's all about. 06:52 So I want people to make all the money in the world. 06:54 I want them to make a lot of money. 06:56 I want them to move those obstacles out of the way. 06:58 But I want them to invest. 06:59 And even if you're not able to become a millionaire, 07:01 or even a multi-thousandaire, whatever you can do, 07:04 you're being responsible and you're living a life 07:06 that Christ has meant for you 07:07 and you're not living a life that is Satan's. 07:10 Because we know he's out there. 07:11 And you know he's attacking all of our families 07:13 in our household trying to break us up. 07:15 So we have to do those things that are responsible. 07:17 Financial literacy does that. 07:18 What are the myths in the community and families that, 07:23 "I don't have a lot of money, so why do I need 07:25 to sit down with a financial adviser?" 07:27 Well I mean, my mother, when she raised us, 07:31 we had some of that cheese that doesn't melt in the oven. 07:33 And we had the powdered milk and we had the sausage 07:37 that might of had a couple of extra pieces of gristle in it 07:39 where you might lose a few teeth if you 07:41 chewed down too hard on it. 07:42 So I mean, but we had some help from the government growing up. 07:45 But my mother also knew how to budget. 07:48 And she also understood that when she would... 07:50 She literally would take me window shopping with her. 07:53 And she would go to the highfalutin stores downtown, 07:55 the Somerset stores. 07:57 She couldn't afford to pay for anything there. 07:59 She would come back on the side of town we lived at 08:01 and she would spend $5 or $10 for the exact 08:04 same outfits that she saw in those stores at Somerset 08:07 at the resale stores. 08:08 Why? Because she budgeted. 08:10 You know, I actually... 08:11 And then she would buy bonds for us. 08:14 And she would say, "Ryan, I'm investing 08:16 for your college future. 08:17 I don't have a lot of money for a lot of things, 08:18 but I want you to go to college. 08:20 And this is valuable to me. This is where my value lies. 08:23 In your future and where you're going to be. 08:26 Not where you are, but where you're going to be." 08:27 And that's what Christ has for us, right? 08:30 Christ invests in where we're going. 08:31 He doesn't invest in where we're at now, 08:32 He's already got the place prepared. 08:34 We've just got to go get it, right? 08:35 So that's what my mother was doing for us. 08:38 And so that's what we really have to do. 08:40 When we embrace that, and then the myths of, 08:43 "We don't have enough money," again, all those individuals 08:46 out there who are exploiting us, they want us 08:48 to keep thinking that. 08:49 I was in a pawn shop the other day 08:51 and we took a tour of the pawn shop. 08:54 We do workshops inside the pawn shops in inner cities. 08:58 So we do financial literacy, because we've got to go 08:59 where the people really need us. 09:01 So we're inside the pawn shop, and actually in this pawn shop 09:04 they actually had fur coats inside 09:07 the back house, in the warehouse. 09:08 People have been trained to purchase the fur coat 09:12 in the fall, they wear it in the winter, 09:15 they pawn it in the spring, they pay for it in the summer, 09:18 then they bring it back out in the fall 09:20 to wear it in the winter. 09:22 And the cycle goes on and on and on. 09:24 So they pay for this same fur coat over and over again 09:27 because they want to look the part. 09:29 They might not have it, because they want to look the part. 09:31 Because their self-esteem, or whatever it is, 09:33 is as such where they put a value on what they look like 09:37 as opposed to what's in their pocket 09:38 or according to what my mother was doing for us. 09:40 "I might not have a lot of money, but I'm going to 09:42 invest in my children's future." 09:43 "I might not have a lot of money, but you know, 09:45 I'm going to buy my first house and move 09:46 out of this neighborhood." 09:48 "I might not have a lot of money, but I'm going to 09:49 make sure that I'm going to help my kid start his first business 09:52 and make sure he can go." 09:53 And I got my first job at eleven and a half years old. 09:56 All these types of things are the values that we have to 09:59 start putting into our families and our household, 10:01 which is really the crux of what financial literacy is all about. 10:03 So I don't want to hear about, "I don't have a lot of money." 10:07 The less money you have, the more you need these principles, 10:10 the more you need to budget, the more you need to 10:12 avoid financial predators, the more you need to learn 10:14 how to mitigate your risk with the right levels of assurance, 10:16 the more you need to make sure you can have 10:18 the right levels of estate planning, 10:20 the more you need to make sure you can 10:21 learn about stocks. 10:22 Again, we're not preparing for where we are. 10:24 We're preparing for where we're going. 10:26 So don't you think one day, because if God has promised 10:29 you a life of increase, don't you want to prepare for that day 10:31 when you get that increase? 10:33 So you might not have a lot of money to put 10:34 a lot into stocks right now, even though you can buy 10:37 DRIP accounts and investments for as much as 10:39 $25 a month, and you can buy different investments, 10:42 pieces of securities, for $25 or $50 a month. 10:45 So you might have that. 10:46 To really go at that myth, if it costs $200 for our Nike shoes, 10:52 walk through inner city neighborhoods. 10:53 How many pairs of Nike shoes do you see? 10:55 If it costs $200 for Nike shoes, last I heard Nike stock 10:58 trades at about $52 or $53 dollars a share. 11:01 So if you can buy shoes for $200, 11:04 you can buy four shares of stock. 11:06 So again, we've been trained to eat from the tree, 11:08 but yet we have not been trained to be like the tree. 11:11 So once we start learning these principles, 11:13 then all of a sudden we're going to start 11:14 seeing empowerment start to reign again. 11:16 And God wants us to, God has promised us a life of increase. 11:20 So financial literacy is that tool to help us 11:22 get to where God has promised us to go. 11:24 And I'm trying to go where God wants me to go. 11:26 Let's talk about your humble beginnings. 11:28 You know, where you're from, your parents, your siblings, 11:32 your education. 11:33 Well I mean, I grew up in Detroit, Michigan. 11:36 And so again, you know, Detroit is not always 11:38 the most positively talked about city in the world. 11:41 But it's the best city in the world as far as I'm concerned. 11:43 It's the best city. 11:45 It is not a city in the world that can 11:46 prepare you for life the way Detroit can. 11:47 And I have a lot of friends that are from Detroit. 11:49 They go all around the world and they're always successful 11:52 because of the hustle that has been put within us. 11:54 And we were blessed to live in the city. 11:55 And you know, I'm from the east side of Detroit. 11:56 Okay, yes ma'am. 11:58 So you know I have that hustle, okay, alright? 11:59 I use to hang out there in east side all the time. 12:01 Boy, I loved it. 12:02 And the thing is that, so I was very close with my mother. 12:05 My father, we got closer later on. 12:08 And so we developed a good relationship later on in life. 12:11 So I'm very thankful and blessed for that. 12:14 So I have two older brothers. 12:15 Both doing well and both who are very familiar with 12:18 humble beginnings as well. 12:21 But we were always taught, again, it's really about 12:23 the level of impact that you have, and so we would have 12:26 days where we would go volunteer 12:28 even though we didn't have a lot of money. 12:29 My mother always taught us, said, "Look, we might not 12:32 have a lot of money, but we could always give to somebody." 12:34 You might not have money to give, but you have time to give, 12:37 you have love to give, you have value and education to give. 12:40 So that's why we're always teaching. 12:41 My brother is an attorney. 12:43 And my other brother is a pharmaceutical sales rep, 12:45 but he gives his time all the time at different shelters, 12:48 and he teaches his children. 12:49 And my brother does the same as well. 12:50 So all of these things come together, but I mean, 12:53 I will tell you, when I first really understood how 12:56 financial literacy was extremely valuable to me, 12:59 I was walking down a street in Brooklyn. 13:02 I just started my business and I'm this highfalutin 13:06 financial planner now, you know. 13:08 And I saw this little girl who was shot, was murdered. 13:11 And it struck me. 13:13 And I knew that it was probably the result of a crossfire 13:16 right on the street right near where I lived at. 13:19 And I knew the Bloods lived there, were always there. 13:22 I said, "Why?" 13:23 They were pulling the sheet over the top of her head. 13:25 And it resonated with me. 13:26 I said, "Wow, what a... 13:27 You know, we've got to do something about this." 13:29 This is the lifestyle. We're not meant for this. 13:31 We're not made for this type of living. 13:33 So we pulled all the Bloods and the Crips and the Latin Kings 13:36 together in the neighborhood. 13:38 At least a lot of the leadership. 13:39 And it was a very small room, and we talked to them about 13:41 what can they do to put their guns down 13:43 and how can we help them. 13:44 Be as tangible as possible. 13:46 And I picked out the leader of the largest sect in Brooklyn, 13:50 the Bloods, and we met. 13:52 And again, nine months later we sat down for breakfast... 13:55 The next morning we sat down, and nine months later 13:58 we helped him form his own business. 14:00 And he employed ten other Bloods through that business. 14:03 And he started to take them off the street and help them. 14:06 So this is the type of thing. 14:07 We eventually employed or helped over 2000 individuals 14:10 who were formerly incarcerated. 14:11 So if I had not been fiscally responsible, right, 14:16 I would not have been able to address that 14:18 or respond in that way. 14:20 Because I knew that it had to take time. 14:22 Financial literacy really is all about creating time. 14:26 Because we are not designed, God does not want us to be 14:29 concerned or worried about money. 14:31 Be anxious for nothing, especially for money, right? 14:34 So He does not want us to be concerned 14:35 or worried about money. 14:37 He wants us to make sure that we are living our life of purpose. 14:40 The purpose of life is a life with a purpose 14:42 and to give back and empower others. 14:44 To make a life a better place. 14:46 So we can't do that if we've got bills piling up. 14:49 We can't do that if we're all worried about material things 14:52 and all these things that mean actually nothing 14:54 while we don't have enough money to afford to pay our rent. 14:57 So we can't do all these things if we're worrying about money. 15:00 So financial literacy takes us... 15:02 God wants us to say, "Move that money off the table 15:05 and live the life that I want you to live." 15:08 And you know, God teaches us about everything. 15:11 The Bible teaches us about everything. 15:14 There's no single greatest financial planning book 15:18 than the Word of God. 15:19 The Word of Christ was a blueprint that gave us 15:21 every single living thing. 15:22 - So read that book first. - Read it first. 15:25 And then go on to Suze Orman. 15:27 And you know, maybe if you feel like it, 15:29 pick up my book, or something like that. 15:31 Alright, I most definitely will. 15:32 But you start with the Bible. 15:34 If you read that Bible and you go in Proverbs, 15:37 it talks about your mentality, it talks about estate planning, 15:40 it talks about wisdom. 15:41 I mean, there's so much that it has that relates to how we 15:44 manage our resources effectively. 15:46 The Bible talks about, "Above all things I wish for you to 15:49 prosper and be in good health." 15:52 We see that our communities are integrated with the 15:58 liquor stores, you know, the supermarkets. 16:02 Where you go somewhere and get the lettuce maybe 16:06 for $1.50, but in the inner city it's $4.00. 16:10 Because they can't get to the supermarkets. 16:14 So you think about, "I only have this much money. 16:18 I mean, I have four or five children. 16:20 And I'm trying to keep a roof over my head, you know. 16:22 And I need some help." 16:25 Are there financial programs available 16:29 for our inner city communities? 16:31 Absolutely. Well we're actually starting 16:33 a movement called, Main Street. 16:35 And one of the things is that... 16:37 You know, I use to be a part of those 16:39 things called, Operation HOPE. 16:40 I raised a few million dollars. 16:41 I helped individuals to provide free financial literacy 16:43 resources in the inner city communities, 16:45 and rural America as well. 16:47 But these programs, there are so many programs, 16:50 so many resources, you'd be amazed on how 16:53 they help you repair your credit for free. 16:55 They help you put your budget together for free. 16:57 They help you manage your debt for free. 16:59 They help you to make sure you purchase or 17:01 have the right response for purchasing your home for free. 17:05 They help you to make sure you don't buy that car 17:08 unless you have a good sound strategy 17:10 with paying it off for free. 17:12 All these services are free of charge. 17:14 Just in the city of Detroit alone I can name many. 17:17 Operation HOPE, U-Snap-Bac, Jewish Vocational Service, 17:21 Southwest Solutions. 17:23 All these organizations that are providing 17:25 free services to individuals. 17:28 But do you know what the problem is? 17:30 They don't have enough bodies. 17:33 And all of them are saying the exact same thing. 17:35 "We want to serve more people." 17:37 But they can't say it publicly because their funders 17:39 won't continue to pay them. 17:40 So they all have the same problem. 17:42 So whenever the funders come in they say, 17:44 they give this rosy, "Yeah, we had this great..." 17:47 "This is awesome, this is great. We had a great quarter." 17:50 Because they want to keep the funding coming in. 17:51 And I can't begrudge them for that. 17:54 So what we have to do as a community is understand that 17:57 right down the street, right around the corner 17:59 there are organizations and resources that are available 18:02 to you that we have to pick up and lift on high 18:04 and embrace, and say, "We want to send more folks to them." 18:07 We have to be the mouthpieces of those greatest things 18:09 that God has blessed us within our communities. 18:11 We have to be the one. 18:13 You know, we have to stop waiting on our ship to come in. 18:15 It's not going to come in. 18:16 We have to learn how to swim out to it. 18:18 Or better yet, create our own ship. 18:20 You know, it's the victim that complains about the wind. 18:23 But the victor creates sails. 18:25 And so this is how we have to learn how to 18:27 create our own destiny. 18:28 Because God gave us all these tools already. 18:31 And if we just look around us, we'll see this Operation HOPE, 18:35 we'll see this United Way, we'll see this Goodwill 18:39 and Salvation Army that are doing good services, 18:42 expanding beyond just providing clothes for the communities. 18:44 But then we have to lift those up. 18:46 We just can't look at them and walk away and say, 18:48 "Yeah, well they'll be just fine." 18:49 No. Talk to them. 18:51 Ask them, "What do you need to be successful? 18:53 How can I bring more people? 18:54 Can we take my, can we pick my organization I'm a part of 18:58 and bring them down here and can we help 18:59 volunteer for you for a day?" 19:01 I always say that, especially around family, 19:03 our families are the most important valuable resource 19:06 that God has blessed us with. 19:07 So we've got to protect the family, protect that household 19:09 with our dearest lives. 19:12 Because that is the strength of our communities. 19:14 Within families we had this thing called, 19:16 the family empowerment program. 19:18 And within the family empowerment program 19:20 what we would do was essentially have those family members 19:23 to bring all their family members to come together 19:27 and just ask basic questions. 19:29 Who needs a job? 19:31 And some people would raise their hand. 19:32 Okay, you need a job? What type of job do you need? 19:35 And who can help this person get that job? 19:37 Who in here has started a business? 19:39 Oh, you started a business? 19:40 How can we help that business be successful? 19:42 Can you provide a job for this person? 19:44 How can we help that business make more money? 19:46 Who in here is going to school in the next 18 years? 19:49 Oh, can we create our own scholarship fund 19:51 and put our own 529 plans together for them? 19:53 All these are different basic questions 19:55 that we can use as a family. 19:57 And then I would always say, "You know what? 19:59 That family needs to adopt one of those resources 20:02 in the community that's doing good work." 20:04 And take those resources, put your arms around it, 20:06 and say, "We're going to help you for a least one day, 20:08 maybe two days a month." 20:10 A year rather. 20:12 And we're going to just bring all our people to just 20:14 volunteer and make sure all these resources are... 20:17 Because if they're doing good work helping people 20:19 be fiscally responsible, that's going to help your community, 20:22 that's going to help your property value. 20:23 That's going to help your whole community come together. 20:25 We can't come back unless there's some... 20:27 A real blessing when we come together in value and unity. 20:29 I remember many years ago, back about 40 years ago, 20:33 and I was terminated from my position 20:38 at one of the Detroit public schools. 20:40 I stopped by my parents' home and my father looked at me 20:45 and he was like, "You can't move back here?" 20:47 And my mother said, "What happened?" 20:49 And I said, "Well, I was working with my students 20:51 and I was helping them with their enunciation, 20:54 articulation, and diction." 20:56 Don't say, "Doo." Say, "Door." 20:59 Say, "That." 21:00 Put the final consonant in your words. 21:02 Well the principle, was Caucasian, walked in 21:06 and said, "We don't need them to learn all that. 21:09 Let them just... 21:10 They live here on the east side of Detroit, 21:12 let them just talk bad. 21:14 You know, we just want to do the number count 21:16 and get the amount of money from the state." 21:18 And I was like, "No, I'm going to teach my students 21:21 how to shake a hand, eye contact, 21:23 'Good morning, Miss Logan.' 21:25 'Good morning, Miss Logan.'" 21:27 So they reprimanded me, you know, three times, 21:29 and then they said, "We're terminating you." 21:32 Well, I took my program to Dr. Jefferson, 21:36 Detroit public schools. 21:37 And I had about 15 minutes to do my presentation. 21:42 I stood up and I asked twenty teachers, 21:45 "Give me the eight parts of speech." 21:47 And they were like, "Really?" 21:48 And I said, "Well, noun, pronoun, verb, adverb, 21:53 adjective stands alone, the three -tions; 21:55 conjunction, interjection, preposition." 21:58 They gave me a four million dollar contract. 22:02 Just like that. 22:03 Because you were blessed to get terminated. 22:04 - Come on now. - There you go. 22:06 You know, man's pink slip is God saying, 22:08 "I've got something for you." 22:10 So I started Kim Logan Communication. 22:14 And going to school to school, to school, 22:17 teaching young people how to speak, how to communicate. 22:19 Giving back. 22:20 They would use that Title I money to bring me in. 22:23 Started doing graduations. 22:25 Started doing, I wrote a program for them on oral communication. 22:30 Now, so one day I was sitting with my mom and dad, 22:34 and my dad and mom were watching sports. 22:36 And I told you earlier, don't care for the sports. 22:39 So my father said, "What don't you see during commercials?" 22:42 And I was like, "I don't understand. What?" 22:44 He said, "What don't you see?" 22:46 He said, "We're going to take Kim Logan 22:48 Communication to another level." 22:50 And he said, "You need to contact this player, 22:52 this player, this player. 22:54 You don't see black athletes commentating. 22:57 You're going to get black athletes ready for transition 23:01 out of sports and how to commentate." 23:05 So God gave me the vision. 23:07 So I contacted Willie Gault. 23:09 You know, I contacted Walt Frazier. 23:11 I contacted different athletes to talk with them, 23:16 "Would you be interested?" 23:18 And Walter Payton. 23:19 He was like, "Dr. Logan, this is amazing." 23:22 He said, "Because you don't see us in front of the camera 23:25 unless we're playing the ball." 23:26 I said, "Well, don't you want to have a future 23:29 investment for your family? 23:31 Use your gifts and talents." 23:33 And from that I built that entity. 23:36 Let's talk about what we see in the sports industry today. 23:41 They play ball, they're not using their money wisely. 23:45 We have athletes who are now in prison from 23:48 taking their own personal money to buy drugs, 23:51 and now they're in prison. 23:53 We just had an athlete who committed suicide 23:56 for killing someone. 23:58 And so he knew he would never get out, 24:00 so he took his life in prison. 24:02 So let's talk about what you have seen, because you've 24:04 worked with different entities. 24:06 I've worked with them. 24:08 And what do you see and what have you been challenged by? 24:12 Well the Word says, "Of what use is money in the hand of a fool 24:15 that they have no desire to obtain wisdom?" 24:18 So the bottom line is that anyone, you know... 24:22 And that's why most lottery winners go broke. 24:26 Because they're chasing money as opposed to chasing wisdom. 24:31 So no matter who you are talking to, if I give you 24:36 a million dollars, and someone's not educated, 24:39 or they're not wise on how to receive that, 24:41 they're going to lose that money, 24:43 they're going to squander that money. 24:44 They might do irresponsible things. 24:45 It's going to open up a whole world of Sodom and Gomorrah 24:48 that they've never seen before. 24:50 And all of a sudden they're going to have so many 24:51 temptations they're not going to be wise enough 24:53 to be able to navigate that field. 24:54 That's why God wants us to be wise. 24:57 So chase wisdom, don't chase money. 24:59 So when you talk about athletes, we're seeing all these young 25:03 children, basically. 25:05 They are. 25:06 And all of a sudden they've got this 25:08 multi-million dollar contract. 25:10 And they don't know how to navigate it. 25:12 And they've got all these people talking. 25:15 I've talked to athletes and they are talking to their accountant, 25:19 and they say, "Yes, you know, every time I meet with him 25:22 I pay 30 or 40 thousand dollars a year." 25:25 I'm like, "Why are you meeting that many times with him 25:28 and why are you paying that much money?" 25:29 "Well, it's his fees. I don't know." 25:31 So they just don't know. They don't know. 25:34 They don't have, you know, "in abundance of 25:37 counselors there is victory." 25:38 The Word says that, right? 25:40 So we have to create an abundance of counselors 25:42 around us, people who are God fearing counselors. 25:45 People who understand that, "Yes, we want to protect you 25:48 because we understand the value that God has in you." 25:51 And it hurts my heart to see or hear about athletes 25:56 who end up in prison or they end up having these wrong decisions. 25:59 Because there are so many blessings that are 26:01 inside of them that they could be giving people. 26:04 And when I hear about positive stories, you know, 26:07 individuals like LeBron James who blesses so many people. 26:11 You know, a good buddy of mine, Allan Houston, 26:13 who starts foundations and creates things. 26:16 Magic Johnson who starts businesses 26:18 and helps others folks start their own businesses 26:20 and franchises. 26:21 I mean, their blessings can be so bountiful for other people. 26:27 And it almost really robs them because they want to take it, 26:30 they want to squander it. 26:32 And I mean, the amount of money that many athletes who 26:35 don't even make it but two or three years in the league, 26:38 it's more money than some individuals 26:39 make in an entire lifetime. 26:41 So you don't even have to be a Robert Parish 26:43 to make it to 40 something years old in the league. 26:46 You can just be in there a couple of years 26:48 and you could have had dollar value, 26:49 blessings, that you could have created for other individuals. 26:52 So what we have to do is, again, whether you an athlete 26:55 making millions of dollars or whether you're somebody who 26:57 just got a windfall of money, or somebody that, again, 27:00 we want to talk to those folks doing scratch offs 27:03 in the lotto line in the stores hoping that they 27:05 can just make it big. 27:07 Say, "No, no, no, no. You know what? 27:08 God is not going to bless you on the other side of 27:10 that scratch off ticket. 27:12 He's already blessed you. 27:13 And all you've got to do is go down to that local 27:15 community college and figure out and use that knowledge 27:18 and train yourself and use the blessings of God 27:21 to do something that enhances the blessings 27:22 that God already has. 27:24 Because God has already given us a lotto ticket. 27:26 - It's called Jesus Christ. - Jesus Christ. 27:28 And so I'm going to use Jesus Christ. 27:30 And say, "Thank You, Jesus, for all the stuff You've given me. 27:33 And I'm going to just thank You for Your grace, 27:36 and keep moving in that direction." 27:37 So we don't have to ask for anything else. 27:39 So again, I just... 27:41 It hurts me to see individuals squander money, 27:43 whether they're an athlete or whatever. 27:47 Well Ryan, I tell you, time has gotten away from us. 27:50 And I truly appreciate all the knowledge I have gained. 27:53 I'm going to be in touch with you because there are 27:56 some things I need to improve on. 27:59 And we need to support one another. 28:01 I want to thank God for your wisdom, your knowledge, 28:04 and I ask that the Lord will continue to bless you 28:07 to live to be well. 28:08 I just want to say, thank you for your work. 28:09 And keep up the good work as always. 28:11 And you are a blessing to many people. 28:12 Thank you so much, Ryan. 28:14 Well listen, remember, there is wisdom 28:17 within the book of Proverbs to handle your finances. 28:20 And remember, above all things God want you to 28:22 prosper and be in good health. 28:24 I'm Dr. Kim. 28:25 Live to be well in your finances. 28:28 God bless. |
Revised 2018-04-11