Everyone has their own definition of rich and poor. If you ask Dr. Boyce Watkins, he'll tell you that he feels poor people are those who can't afford a home, food or basic clothing and are "barely keeping their head above water," but feels certain entertainers who make lots of money can still be squeezed into that category due to their ways of thinking.
"A lot of the billionaires I know don't dress like billionaires. They don't try to floss or show what they have because they're comfortable with who they are," says Boyce Watkins. The author believes that when it comes to several African American entertainers and athletes, they are sucked into what he calls the "Black Financial Addiction."
In this interview Vlad recalls times he's talked to his athlete friends, and not once were investments and future business plans discussed in their locker rooms, but instead mentions of their new purchases and girlfriends. Dr. Boyce Watkins feels this happens because they're "compensating for something that's missing on the inside" and the people in their circle don't truly care about their well-being, which leads to the average athlete becoming broke a few years after leaving the league.
Watch on as Dr. Boyce Watkins voices why college athletes should be paid, how Black people attempt to buy their humanity because they already grow up believing they are "three-fifths of a human being," and hear his advice to the people who are stuck in debt. "One of the easiest ways to build wealth is to stop spending so much money in the first damn place. Realize the difference between what you want and what you need."
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