Opinion

OP-ED: Vote Like Your Money Depends On It

Published

11 years ago

October 28, 2014

“It’s not businesses that create jobs” ~ Hilary Clinton

Seriously? The following quote was taken from Mrs. Clinton’s campaign speech last week. Is she also going to tell us that water is not wet?

To the entrepreneur that starts out with a dream and an idea and that works 80 plus hours a week to build a business those words of former Secretary of State Hillary Clinton sound like nails going down a chalk board. Obviously neither Hillary Clinton nor this administration knows where jobs come from because the job creation during this administration is dismal at best.

Thisadministration is touting that the unemployment rate has dropped to 5.9% the lowest since the summer of 2008. But if that is truly the case why is everyone still not working? Because it is not the unemployment numbers we should be looking at it is the job participation rate.

The Labor Force Participation Rate which in September slid from an already three decades low 62.8% to 62.7% the lowest in over 36 years, matching the February 1978 lows. And while according to the most recent Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million people who have left the work force.

And this trend is not getting better. According to an article in the Kansas City Star, titled Business Startups Hit a 30 year Low “Startups of new businesses, which are historically the key source of new jobs. Are at their lowest point in 30 years. They’re occurring so sparingly that U.S. businesses are now dying faster than they’re being born. The news is shockingly bad and starting to look like a death spiral.”

Indeed, a Kauffman-funded Census report cites that “new firms and young businesses account for about 70 percent of gross job creation and disproportionately contribute to net job creation.” Over 50% of the working population works in a small business ergo, less entrepreneurs will continue to cripple the U.S. economy.

And for black Americans a simple glance of a list of the wealthiest blacks in America from the Oprah Winfrey’s to the Robert Johnson’s prove that wealth creation for black Americans is in entrepreneurship. The story of Greenwood, Oklahoma in the 1920’s known by many as the Black Wall Street because of it’s vast wealth and prosperity had amassed over 600 successful business.

The blacks in Greenwood would become multi millionaires because of the businesses they started which ranged from grocery stores, movie theaters, banks, law offices, a hospital and even a bus system. Tragically , Greenwood, OK aka Black Wall Street would fall victim to the Tulsa race riots of 1921 which has been coined one of our nation’s worst acts of American racial violence in which 35 square blocks of business and homes were torched by angry white mobs.

Karen Watson is the author of the book, “Being Black and Republican in the Age of Obama”. Email karen.watson@gopbuzz.com

As you go to the polls to hire a politician to work for you question whether their ideas and intents are pro entrepreneur or not. And make sure your choice is fiscally sound, if we begin to vote as if our paychecks depended on it we might just see a new Black Wall Street rise again!

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Advice

Women & Wealth: Tips for Navigating Your Lifelong Financial Journey

Published

3 weeks ago

March 15, 2026

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Sponsored by J.P. Morgan Wealth Management

We are in the midst of a seismic shift in wealth. This phenomenon, often referred to as the “Great Wealth Transfer,” describes the unprecedented movement of assets from the Baby Boomer generation to their heirs – an estimated $105 trillion by 2048. And women are poised to inherit most of this.

J.P. Morgan Wealth Management’s 2025 Investor Study found that women are not only set to receive significant wealth – they’re actively working to build it on their own. Ninety-three percent of women surveyed who are expecting an inheritance aren’t relying on it to reach their goals.

Here are a few tips for women to consider in their wealth-building journey:

Create a financial roadmap

A detailed, well thought out plan is important. J.P. Morgan’s study found that 90% of those surveyed with a plan feel confident about reaching their financial goals, compared to 49% without one.

Your plan should reflect your unique goals, priorities and circumstances. Consider your investment horizon and risk tolerance, and remember to revisit your plan regularly as life evolves.

Are you saving up for goals like buying a house, sending your kids off to college or retiring early? Where do you want to be in the next five, ten or twenty years? Everyone’s financial situation is unique, so it’s important to think about these questions and build a plan that is unique to your life.

Women tend to live longer than men on average. Many take career breaks or care for family members, which can influence long-term planning. It’s important to adjust your strategy with these factors in mind.

Where to start with investing

Don’t let misconceptions hold you back. Starting to invest doesn’t require a large sum, and beginning early can be beneficial. The earlier you start, the more time your money has to potentially grow over the years. Understand your overall financial situation, set clear goals and develop a long-term plan.

It’s important to also make sure you’re covered for unexpected expenses that come up before you start to invest. Build up a cash emergency fund, typically enough to cover three to six months of expenses, and pay down any high-interest debt.

Taking charge of your finances

The good news is that women are taking charge of their finances. J.P. Morgan’s research found that 75% of women respondents make financial decisions with their partner or take the lead themselves. For those who have a spouse or partner, it’s important for each person in the relationship to play an active role in the process.

Building wealth can be empowering for many women. The same survey found that 73% of women respondents said money gives them “security,” while 64% of Gen Z and Millennial women associated it with “freedom.”

The power of having a team

Some people find it helpful to work with a financial advisor, so you don’t have to tackle things alone. An advisor can help you craft a plan tailored to your needs and keep you on track throughout your lifelong financial journey. If you expect to receive an inheritance, you should also consult with estate planning and tax professionals.

No matter where you are on your wealth-building path, education is key. It’s so important to be an informed investor, and there are plenty of resources out there to help. You can find a library of free educational resources at chase.com/theknow.

As the landscape of wealth continues to evolve, women have a unique opportunity to shape their financial futures and those of generations to come. By staying informed and planning ahead, women have the tools to help them confidently navigate the Great Wealth Transfer and set themselves up for financial freedom.

The views, opinions, estimates and strategies expressed herein constitutes the author’s judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions. For additional guidance on how this information should be applied to your situation, you should consult your advisor.  

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.  