Coming out of college with $180,000 in debt, Angel Rich is a living example of what it takes to overcome financial burden. As the CEO and founder of The Wealth Factory, Angel is on a mission to manufacture economic independence for one million entrepreneurs by 2020.
In addition to being the CEO and founder of The Wealth Factory, Angel is also an author, director, and producer. In her debut book entitled, “History of The Black Dollar”, Angel reveals the impact and significance of economics throughout American history in relation to the black community. To date, Angel has been dubbed, “The next Steve Jobs” by Forbes, has won grants from JPMorgan Chase, and has been interviewed on The Breakfast Club and Hot 97.
In this episode of our Take Ownership Podcast, Angel talks to us about the importance of teaching financial literacy to the youth, understanding our history, and her Black Tech Matters award show.
Teaching Financial Literacy to The Youth…
According to a study by Dr. Annamaria Lusardi of George Washington University, “When we teach our youth financial literacy, it influences the entire family’s behavior” says Angel. “When we teach a preschooler financial literacy because the parents have to assist with the homework, it then influences the family’s behavior and understanding of finances.”
In addition, Angel also goes on to mention that in 2009, the whole financial industry told her that she was crazy for trying to market life insurance to youth. “It was groundbreaking at the time and I sold the marketing plan to Prudential. Now it’s common to market financial services to youth” says Angel.
Understanding Our History…
“When we understand our history and the different tactics that have been used against us, we then start to feel like we are not crazy,” says Angel. “When we know the history of the marginalized practices that have been put into place as a means of doing us a disservice, we can foresee when someone is trying to play us in the future. The reason why we continue to fall for the same tactics is because we do not understand our history. At the same time, we are not learning how to be able to improve the future. This is why I decided to put it into a game and create Credit Stacker.”
In addition, Angel is in talks with Marvel about developing a potential Black Panther game. Although she could not disclose all of the details, the premise of the game has to do with adding value to our communities and expanding our empire through collaboration as opposed to conflict, destruction, fighting, and killing.
Black Tech Matters…
“Nothing matters until it is published in writing or in media. This is why media is critical when it comes to black culture” says Angel. This is also exactly why she created her Black Tech Matters awards show. “Until things are recognized and put into media and writing, we can all do a bunch of stuff that will not mean anything. What is not published means nothing to the world, there is no legacy behind it, there is no transformation of information behind it, and other people can come along and take it” says Angel. “Starting the Black Tech Matters awards show was one of the most important things I have ever done in my life.”
(Uh • Kway • Us) Aquaus Kelley is a forward-thinking brand strategist, curator, and educator. As the Founder of A Lovers Ambition Lifestyle Group, he is extremely passionate about bridging the gap and building value between brands, communities, and culture. His ultimate mission is to use his influence to project positivity across the globe and invest in the collective future of society through the arts, education, entertainment, and leadership.