Black Folk's Guide to Making Big Money in America Hardcover – January 1, 1980

The greatest book I've read in the last 8 months regarding personal finance, business and real estate. It is truly comprehensive and a must buy for anyone serious about improving their financial situation.

Great book

The Best!!! George Trower Subira is a God-Send.

I came across this book while on one of my usual forays to the local library in search of books on investment. Two books seemed to beckon me that day- this one and a book by Thomas Shapiro titled 'The Hidden Cost of Being African American: How Wealth Perpetuates Inequality'. I do not know what possessed me to pick up these two books but for some reason, I was compelled to get them, and both made for very powerful (and at times quite unsettling) reading.I have somewhat of a history with Mr. Trower-Subira's book. As I began to read it, it dawned upon me that I had actually read it before, in my youth, when I was just a lanky, introverted, over-achieving ghetto child taking college prep courses in high school. Although I freely confess that I was not quite ready to handle the wisdom that Trower-Subira laid on me and found the book somewhat off-putting then (mostly because of the author's attempt to keep it real- after all, I was a budding Black Scholar who knew something (HAH!), not just another ignorant homeboy), I was very receptive to its contents nonetheless. Some of its advice eventually found its way into my investment repertoire. As I got further along in the book, I also realized that I had heard much of what it had to say before, albeit from various sources (parents, mentors, the business and financial cognoscenti), over the years, but no one had put it all together in one place before, nor had they bothered to address the African American community in particular. Yet, while reading this book along with Shapiro's book, I came to a few realizations.First, Trower-Subira and Shapiro emphasized the central importance of home ownership as a source of equity capital. Both decried the usage of earned income and accumulated home equity to fuel (conspicuous) consumption binges. Trower-Subira got it right when he said that real estate should be the base asset for African Americans from which to build wealth. As long as you borrow against your home to acquire other, income producing assets, you are doing yourself a favor by pursuing homeownership.Second, both stressed the importance of financial assets in building wealth. Trower-Subira put forth a brilliant explanation of the types of assets that produce income and that African Americans in particular should endeavor to pursue (real estate is just one of several). Shapiro demonstrated quite well in his book how economic inequality between whites and blacks is perpetuated by a long-standing disparity in the amount of financial assets- particularly those assets that produce income.Third, both emphasized the importance of continuing education combined with an asset-based approach to wealth building. Trower-Subira wrote in the context of his day, but now the game has shifted somewhat. That is not to say that the problems of his day are no more; indeed, many of the problems of his day still relentlessly follow the African American community, and in too many instances, the problem have actually gotten worse. Although we are presented with new opportunities, we also face new challenges- on top of the same old challenges that we have yet to vanquish.I've half a mind to re-issue this book under my own name, issues of naked, unabashed plagiarism aside. Although I did take issue with the writing style, and feel that some of the action steps are a bit obsolete, I am totally in agreement with his core message. Every intelligent African American serious and intent upon building wealth needs to read this book.

It's a great book. It helps to put you in a mindset that's needed to become successful.

very good informative reading.

A must read

Very good information