The Black Enterprise Wealth For Life Principles

Step-by-step guidelines to responsible saving, investing, and spending to build wealth and pass it on to future generations


When Black Enterprise unveiled its Declaration of Financial Empowerment nearly a decade ago, the idea was to create a program to help African Americans build wealth. Since then, the dynamics of wealth building (and perhaps more importantly in these times, wealth preservation) have changed significantly. To that end, we unveil the next step in the evolution of wealth creation: the Wealth for Life Principles.

The 10 Wealth for Life principles are meant to serve as a step-by-step guide to responsible saving, investing, and spending in order to build wealth and pass it on to future generations. Wealth preservation goes hand-in-hand with wealth accumulation. Consequently, the new principles place greater emphasis on financial discipline. Through consistent application of these principles, you and your family will be well on your way to establishing a financial legacy that will survive the test of time. We resolve to give you the tools you need to not just survive, but thrive, regardless of what the economy and financial markets look like.

Our Wealth For Life Principles

1. I Will Live Within My Means
2. I Will Maximize My Income Potential Through Education and Training
3. I Will Effectively Manage My Budget, Credit, Debt, and Tax Obligations
4. I Will Save At Least 10% of My Income
5. I Will Use Homeownership as a Foundation For Building Wealth
6. I Will Devise An Investment Plan For My Retirement Needs And Childrens’ Education
7. I Will Ensure That My Entire Family Adheres To Sensible Money Management Principles
8. I Will Support the Creation and Growth of Minority-Owned Businesses
9. I Will Guarantee My Wealth Is Passed On To Future Generations Through Proper Insurance And Estate Planning

10. I Will Strengthen My Community Through Philanthropy

26 Responses to The Black Enterprise Wealth For Life Principles

  1. Robert F says:

    First of all I want to thank you for the heads up on the Wealth for Life, Keep up the good work.

  2. A Belle says:

    It’s good that we have insight to shift our princples to fit the times that we live in. I am pleased that this change is timely, very practical and helpful for all of those who aspire to wealth and who want to leave a legacy for generations to come.

  3. Clent says:

    BE has been nothing short of a blessing since I began my subscription in 2003. I’ve lived by and applied the declaration of financial empowerment/wealth of life principles for the last 4 years of my adult life. I’ve been a true disciple of what Graves and the rest of the BE family represents and will continue to use it’s guidance to help others.

    Thank you BE and God Bless you

  4. Well done Black Enterprise!

    Just what we need— a reminder to balance our lives.

    We plan on adding your widget to the iKwanzaa Community!


  5. Natonya says:

    Thank you BE, you have laid out the principles plain and simple. I think I will print it out, frame it, and hang it in my home office. I want it right in front of my face when I am paying my bills on-line and and revising excel sheet I created for the sole purpose of tracking my increasing networth. I will also distribute this to others.

  6. percy sherrod says:

    im thankful 4 BE for the last ten years i have been reading this article.

  7. Krishna says:

    Thank you, BE, for goal #8

    –from your readers’ local 7-11 ownership and management!

  8. carol m says:

    thanks for all the important info given from ur website! this is truly a blessing!i have told several of my friends and family about ur magazine and believe it or not they all subscribed, and now recieves BE. my MOM AND COUSIN HAS BOTH STARTED THEIR OWN BUSINESS!and i’m om my way to starting mines! thanks to you! keep up the good work and god bless!

    Carol M

  9. It’s the first time I comment here and I should say that you give genuine, and quality information for bloggers! Good job.
    p.s. You have a very good template for your blog. Where did you find it?

  10. Great post thank you, I have also sent this to twitter hope it helps you with traffic.

  11. sexefr says:

    Well, the article is in reality the best on this worthy topic. I concur with your conclusions and will eagerly look forward to your incoming updates. Saying thanks will not just be enough, for the fantasti c clarity in your writing. I will at once grab your rss feed to stay abreast of any updates. Genuine work and much success in your business efforts!

  12. Clifford Feigel says:

    No Twitter marketing!? What’s with you man!

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