Discussing the wealth gap between America's rich and poor, Dr. Boyce Watkins chalks it up to the fact that "a lot of rich people keep their money in the stock market and poor people don't." The observation kicks off the economist's views on investing in small business during his recent interview with VladTV, plus a discussion on how and why he left academia.
Both stock markets and mutual funds are recommended as ways to build generational wealth, but soon Dr. Boyce Watkins revealed his reason for investing into his community. "First of all, it had a two-fold meaning for me, I wasn't just investing because I wanted to make money, I was investing because I wanted to help the people that I care about, and I also invested because I wanted to invest in the things that I loved to do."
As the clip continues, Dr. Watkins discussed how he was the first Black person to join the Finance department at Syracuse University in 100 years, and after realizing he wasn't accepted due to his "radical" views and that his firing was eminent, Dr. Watkins took the necessary steps to earn money elsewhere so he could leave the position on his own terms.
Watch the clip to hear more investment advice from the good doctor and why leaving academia was the best decision for him.
